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“Back here to the final segment of the best doc s now radio hour well. Well. We ve talked about the why i called apple stock. A stinker.
A couple ago and sold it we ve talked about why the markets are nervous right. Now you don t have to look any farther than argentina. You don t have to look any further than turkey. You don t have to look any farther than china.
Wow. That s three of them now they re ganging up on us. I feel outnumbered and you don t have to look any further than the fed which hopefully will become less of a concern here this week. And for this reason markets are very very jittery right now add into the equation that most people like me have every reason to sell sitting on big profits and very little reason to buy right now after a huge year in 2004.
13. And that s one of the reasons. Why i m now forty percent sitting in cash. I practice what i preach.
I sell when they are no longer best docs. Now will they become best doc s now again they might and when they do i ll consider them again. But as for now i feel comfortable with where i m at what i m doing and being really really vigilant on what i still own the sixty percent that i still do own and also looking for opportunities out there may be shorting. These latin american markets could be a real profitable venture here in 2014.
I don t see them getting any better before make it worse. So we re looking for opportunities all over the globe right now i got on the elevator on friday. The day that the market was down 300 points. I was finally going home about four thirty in the afternoon and i got on an elevator with one of the brokers from down the hall.
Who works for one of these big wire. House firms. And i must have looked a little bit tired and ragged which i usually do by friday it s long week. I ve radio shows dealing with markets that are up and down docking with clients all kinds of things come into play working on the newsletter on every friday.
He said well looks like you had a rough day. I said no not really but i mean anybody in my business. You re in my business. The market was down 300 points today.
It was a little bit harder. Date. It s a lot more fun to come to a day at work when the markets are up then when they re down 300. I he says i don t even worry about the markets guys about 35 years old you know punk probably.
He s been in the business for three or four years five years maybe i don t even worry about the markets. He says okay whatever and i m thinking under my breath. I m glad you don t manage my money because i would want you to worry about the markets. How can you be oblivious to the markets and be in this business.
I don t even worry about the markets. Anymore hmm and i think that pretty much sums up how a lot of people in my industry. Feel they feel like yeah you know in the end it all works out if you just buy and hold and put assets away under management check them once a year. All is well hey you know what i don t believe that i think you have to be an active manager not a passive manager that has the gall to say i don t even worry about markets anymore with the smile on his face.
He says this like i could care less you know it ll all work out in the end. I just tell my people all as well don t worry stay the course all right look that s fine. That s how you do your business and i m sure you bring in clients under those pretenses and i m sure you your clients are happy with you and what can i say more power to you you do things differently than i do then yesterday. I got on the elevator with another one this guy s probably 25 years old somewhere in there.
I m 57 by the way and i start talking to him. He says. Oh you re an asset manager right down the hall. I said yeah.
I said i am. He says. Oh i ve been a broker here at i won t name them it s a big one of the big three. I ve been a broker here for about a year.
I said no what did you do before that you know i knocked around here and i knocked around all right. So you re like 25 years old were you around when the dot com crash happened were you around when the single family home crash happened you know how to put a valuation on a stock you know how to read a technical pattern. He said. No we just you know we kind of just do the asset allocation thing and sign people up and kind of move on to the next person.
I said yeah that sounds familiar and i said you know what i just couldn t do that and he said. How come you didn t go to work how come you don t work for a big firm. I said i couldn t i i d be fired like the second day you think they re going to allow me to do a national radio show and speak. My mind and give my opinions ya.
Know they re going to monitor me they re going to make me say what they are going to limit what i can say they re going to limit what i can buy they re going to limit what i can sell they re gonna be all over me they re going to strangle me there s no way that i could work under those circumstances. But i guess i could get on the elevator on friday and say i don t even worry about these markets. Anymore uh uh. Not me i just couldn t live that kind of a life under those kinds of circumstances with that kind of you know i don t know pollyanna.
I guess type of thing just put people into an asset allocation and move on to the next guy and then once a year call them in for their annual review. That s pretty much the derp no at the big wire house firms anyways. I think you could tell we do things a little bit differently here at gunderson capital management to each his own and i understand. There s a lot more of people out there that are more comfortable dealing with a brand name that is nationwide.
Don t forget it s those brand names that are nationwide that caused that helped we re at the center of the very crisis that almost killed us in 2007 in 2008. It was those very ivy league grads that invented the mortgage backed securities and bundled them up saying they were triple a paper all right that s just a reminder anyways. If you d like to get our newsletter which goes out every week. I don t know what happened over the weekend.
We re trying to figure it out i sent it out like i do every weekend. I spent extra time on this one 12 to 14 hours and constant contact or something a lot of people didn t get it so we re busy resending. The mount trying to figure out what went wrong also our phone number 855 611 best 855 611 best to have a ” ..
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