OKAY LET'S TURN BACK TO THE
MAJOR INDEXES AGAIN AS SECOND
STRAIGHT DAY OF
LOSSES, THE VOLATILITY INDEX
CLIMBING ABOVE 30 PER SAT 30 A
RATE OF 30 ON
THE VIX AND ALL COMES AMID THIS
NEW VARIANT DETECTED HERE IN
THE STATE OF CALIFORNIA AND
JOINING ME NOW
IS JUST JOSH SALAR PARTNER OF
BLUES OWN WEALTH ADVISORS.
JOSH, THANKS SO MUCH FOR COMING
ON THE SHOW.
WHAT IS YOUR REACTION TO THE
MARKET ACTION TODAY. I WE'LL
SEE THE STEEP LOSSES
ACCELERATING INTO THE CLOSE.
>> YEAH A LITTLE OFF OR SELL
OFF IS THAT JUST READY
FOR CLOTHES RIGHT AND YOU AND
ALWAYS NICE CATCH YOUR EYE ON
THAT NOTE WE'RE HAVING THIS
INTERVIEW BE ABLE TO TALK ABOUT
SOMETHING A LITTLE BIT
DIFFERENT, BUT IT SEEMS LIKE
YOU KNOW PEOPLE ARE
REALLY CAREFUL.
>> OF THIS NEW VARIANT SHOWING
AND DOMESTICALLY SO BEFORE THE
MARKETS WERE RELATIVELY TOUGH
AND YOU WE'RE STARTING TO SEE
SOME SOME CRACKS YOU KNOW YOU
NEED THE SERVICE, PRIMARILY
UNIT JUST INTEREST RATE
SENSITIVITY.
>> IT WAS THE 1, 8, TODAY.
I THINK YOU HAVE TO TAKE A STEP
BACK.
>> SO IT'S NOT JUST THE VARIANT
RIGHT, BUT IT'S ALSO THE
INFLATION PICTURE AND
SAID SHARED AROUND POWELL OF
COURSE REITERATING HIS NEW
STANCE, A STAKE
IN THIS WEEK AS HE TESTIFIES AS
PART OF REGULAR PROTOCOL IN
FRONT OF CONGRESS ALONGSIDE
TREASURY SECRETARY JANET YELLEN
SAYING THAT INFLATION
IS NO LONGER TRANSITORY DESPITE
THE FEDS SAY THAT FOR YEAR AND
THAT INTEREST RATES COULD
RISE SOONER RATHER THAN LATER
HOW MUCH DOES THAT HAVE TO DO
WITH THE WEAKNESS IN RECENT
VOLATILITY THAT WE'VE SEEN.
>> YEAH I WILL FLY AND DROP ALL
THAT TURNED OFF OR WHERE IS THE
ANSWER IS THEY'RE JUST
INCREDIBLE. HE DIDN'T RETIRE
THE WORD TRANSITORY AND YOU
SPECIFICALLY SAY
THAT THERE LOOKING AT TALKING
ABOUT YOU KNOW THAT YOU BRING A
FEW MONTHS ADDED SCHEDULES SO I
DON'T KNOW THIS IS GOING TO
CHANGE HIS GAME.
>> FOR SAYING THAT HE
DEFINITELY NEEDS USE DIFFERENT
OBVIOUSLY THAT IS WHAT
THE MARKETS RIGHT NOW RIGHT
INTEREST RATE SENSITIVITY AS I
MENTIONED BEFORE. YEAH, IT'S
REALLY THE SORT OF SHAKING UP
THE VALUATION MODELS STATIONS,
HIGHER GROWTH, YOUR TECH MEANS
TRACTION
RESTART I MEAN WE SEE THIS AND
YOU JUST MENTIONED A COUPLE OF
GREAT NEWS THERE THAT HOW WELL
OFF
THEIR HIGHS. SOME OVER
>> SO WHAT DOES THIS MEAN WE I
MEAN THE FIRST DAY OF A BRAND
NEW
MONTH JOSH AND WE'VE GOT THE
FED DECISION COMING MID MONTHS,
WE'VE GOT TO WAIT 2 WEEKS FROM
TODAY FOR THE ACTUAL DECISION
ANY FURTHER INDICATIONS FROM
THE FED CHAIR
AS TO THE POP FORD FOR INTEREST
RATES AND INFLATION. I MEAN
REGARDLESS OF WHETHER OR NOT
YOU'RE TAKING OUT A LOAN YOU'RE
CERTAINLY SEEN INFLATION.
CATCH UP WITH YOU AT THE PUMP
PRICES AT THE PUMP FOR GASOLINE
AT THE
GROCERY STORE. AND EVEN OUR
HEATING BILLS UNFORTUNATELY,
WHICH ARE EXPECTED TO SKYROCKET
THIS WINTER SHOULD WE BE
EXPECTING MORE VOLATILITY THE
REST OF AND OR EVEN A SELL OFF
HEADING INTO YOUR AT.
>> YEAH, IT'S LIKE ALRIGHT
EXPECT
MORE VOLATILE. I THINK THAT'S
ALMOST CERTAIN TO BE EXPECIALLY
ESPECIALLY WITH A
VERY CHILLY. AND THOSE CASES
ARE ONLY GOING TO RISE, SO WE
NEED SOME BETTER GET OUT OF
THAT. WHAT I WOULD EXPECT BONE
TO PICK UP AS A FIRM WERE NOT
NECESSARILY MAKING ANY.
LARGER STRUCTURAL INCISIONS
WITH THE PORTFOLIO RIGHT
ALTHOUGH WE ARE LOOKING AT
GETTING A LITTLE BIT DEFENSIVE
COME THE NEW YEAR INTO THE NEW
TAX YEAR. BUT IT IS ALL EYES
IN THAT YOU NEED TO
TO TENNESSEE WHAT THE WRITER
ACTUALLY ENDS
UP BEING. BUT RIGHT NOW
WE ARE ABOUT TO BRING MORE CASH
TRIES TO US AN OPPORTUNITY SAYS
>> THE ONLY WILD CARD IN THIS
IS THAT WE KNOW THAT THEY'RE
STILL TRILLIONS OF DOLLARS JOSH
ON THE SIDELINES AND QUESTIONS
AS TO HOW THAT WILL BE SPENT, I
MEAN MAYBE PEOPLE ARE TRULY
SAVING IT FOR A RAINY DAY OR TO
ACCOMMODATE HIGHER
PRICES WHICH WE EXPECT WILL
PERSIST REALLY ACROSS ALL
CATEGORIES IN THE LATEST
INFLATION DON'T THINK THERE WAS
ONE SINGLE CATEGORY, YOUR
INDUSTRY PRICES ACTUALLY
DECLINED.
>> YEAR
OVER YEAR.
>> WITH THAT MONEY ON THE
SIDELINES CAN IT BE PUT TO WORK
IN THE STOCK MARKET OR DO YOU
THINK IT WILL BE ALLOCATED IN
OTHER WAYS.
>> WE HAVE SEEN DIDN'T YOU
CONSUMER IS SPENDING AGAIN.
>> AND VERY HEALTHY
AMOUNT ON VARIOUS AMOUNTS THAT
THEY'RE ACTUALLY ON THE EITHER
SO HEADING INTO THE HOLIDAYS.
I THINK THAT THERE'S BEEN SOME
SOME EXCEPTIONAL SPENDING.
I'M I
YOU HAVE CONFIDENCE IN THE
CONSUMER AND THAT WAY I THINK I
AM A LOT OF MONEY HAS A LOT OF
SAVINGS HAS FOUND ITS WAY INTO
THE STAR MARKET SIMPLY BECAUSE
WE HAVE JUST THESE AND SAMMY
LOW INTEREST RATE ENVIRONMENT
RIGHT NOW IS THERE'S REALLY
NOWHERE ELSE TO 2.
AND SO WE'RE OFF AND SEEING
THAT PEOPLE ARE CONSIDERING
THESE HUGE SHIFT CHECK THOSE
NAMES AS ALL THE ASSETS INTO A
LOT OF WAYS THAT ARE SO I DON'T
NECESSARILY THINK THAT IS GOING
TO
STOP IT. SO THE REALLY
INTERESTING TO SEE THAT WHEN
VOLATILITY DOES TAKE OUT WHICH
PARTS OF THAT ROSE A
TECH SECTOR.
HOLD ON VERSUS WHICH WANTS THEM
TO DO SO AND AS I MENTIONED YOU
SEE HERE CORRECTION A LOT
OF NEEDS RICHARD VALUE STOPPED.
>> HERE'S THE BIG QUESTION FOR
YOU AND THIS OBVIOUSLY WOULD
IMPACT THE COURSE OF THE
ECONOMY JOSH, PEOPLE'S
RETIREMENT PLANS AMONG OTHER
THINGS EVEN TRAVEL. BUT OIL
PRICES EXPECTED TO SOAR TO A
150 THE DOLLARS
A BARREL. MORE THAN DOUBLE WHAT
THEY ARE RIGHT NOW IN A FULLY
REOPEN WORLD INTO THE
INVESTMENT BANK JEFFERIES DO
YOU AGREE.
>> I THINK IN SPACE ARE
SHOCKING TO HEAR THAT NUMBER SO
I I DON'T WANT TO WE'LL PUT IT
THAT WAY.
>> THANK YOU TO SEASONS
$150 A BARREL. I THINK WOULD
REALLY UP AND THE PATH FORWARD
FOR THIS ECONOMY EVEN AT A TIME
WHEN WE SEE ELECTRIC VEHICLES
COMING TO MARKET MORE OFTEN
WITH PUBLIC CHARGING STATIONS
AS WELL MAKES THAT MORE
ATTRACTIVE AS OIL PRICES RISE
REALLY IS KIND OF A PERFECT
STORM FOR ELECTRIC VEHICLES
RIGHT NOW BUT IT STILL IS AN
EXPENSIVE TICKET PRICE AS THE
CHIP SHORTAGE DOES PERSIST
WHERE WE SEE OPPORTUNITY IN
THIS MARKET OTHER CERTAIN
SECTORS THAT LOOK MORE
ATTRACTIVE TO YOU OR EVEN
SECTOR JOSH THAT YOU WOULD BE
SELLING AT THIS POINT.
>> I DON'T NECESSARILY HAVE
ONES THAT ARE GOING TO A LOT
MORE THAN THE OTHER I THINK
TECHNOLOGY HAS A.
>> IT'S
>> VERY INTERESTING POSITION IN
OUR LIVES RIGHT NOW IN THE
SENSE THAT.
WHEN YOU THINK ABOUT IT OVER
THE LONG TERM THIS IS
INTERESTING JUXTAPOSITION OF
BEING ABLE TO CONTINUE GDP ROSE
ALSO
LOWERING UNEMPLOYMENT, WHICH IS
NOT NECESSARILY THE WAY TO
MENTION ALI. OUR AND SO I WOULD
BE TAKING A LOOK AT THOSE
INDUSTRIES AND SECTORS THAT
REALLY SAD THAT THAT SORT OF
THE YEAR.
WHERE THOSE AREAS CLOUDS ONE OF
WHERE IT JUST HAS EXACERBATING
THAT WERE FACT IT'S
ALMOST EVERYWHERE. AND IT'S NOT
GOING TO STOP GROWING AND SO
WE'RE REALLY GOT A LONG AS IT
ISN'T PERTAINS TO
I THINK ALSO THE ENERGY IS
GOING TO GET THE BERRIES
VERY VERY IMPORTANT TO OUR TO
OUR SOCIETY AND SO THAT'S
SOMETHING THAT THAT VERY SAME.
>> SO THE PUNCH BOWL IS STILL
HERE THE FED
IS STILL STIMULATING AT AN
UNPRECEDENTED PACE, EVEN THOUGH
THE TAPER STARTED MID LAST
MONTH JOSH. SHOULD INVESTORS
BUY THE DEBT AND WHAT DO YOU
THINK IS IN STORE FOR 2022,
IT'S THIS TIME OF START HEARING
FROM THE MAJOR STOCK STRATEGIST
THEIR EXPECTATIONS FOR WHERE
THE SNP WILL AND IN NEXT YEAR.
AND WHAT THE FORTHCOMING YEAR
2022 WILL BRING WHAT'S YOUR
CALL.
>> AND NO NOTICE TO LAW AS THEY
ALWAYS SAY.
I THINK THE CALL IS TO CONTINUE
TO VIE AT VALUATIONS PRICE THAT
YOU MAKE SENSE I
THINK IS FUNDAMENTALS ARE ARE
SOMETHING THAT
HAVE BEEN PUT ASIDE AS RECENT
HISTORY MEAN JUST THE LAST FEW
MONTHS JUST AS THINGS CONTINUE
TO
DO TOO. MOST WERE THE
FUNDAMENTAL USE WILL COME BACK
INTO THE
FOR YOU.
>> AS THEY
>> BECAUSE HE DID FIND SOME
OPPORTUNITIES TO BUY AN
EXTRAORDINARY SURE YOUR
COMPANY'S
THE TRIGGER PRICES, I THINK THE
BEST IN THIS START TO HAPPEN
AGAIN, ESPECIALLY AS WINDS.
2 NEW FACES UNCERTAINTY AROUND
THAT CONVERSATION. AND
ESPECIALLY WHEN YOU START TO
SEE REACTIONS AND PRICES WHERE
GOOD NEWS JUST ISN'T GOOD
ENOUGH NEWS. I THINK YOU SAW
SOME OF THAT AS YOU VERY HAPPY
ABOUT YOU KNOW SO
FOR US
GREAT COMPANY GREAT LONG-TERM
VIEW GREAT BUSINESS YOU KNOW,
BUT JUST DIDN'T PERFORM QUITE
TO THE EXPECTATION AND SO I
THINK THERE'S A HIGH BALL
RIGHT NOW AND THERE CAN BE SOME
OVERSIGHT SPECIALLY AS WE HEAD
INTO THE GAME OR DO THAT.
>> SO WHEN THE FED
JOSH MID DECEMBER 2 WEEKS FROM
TODAY, WE'LL GET THAT NEW FED
DECISION AS WELL AS A PRESS
CONFERENCE FROM THE FED CHAIR
JEROME POWELL. WHAT QUESTIONS
DO YOU HAVE FOR THE FED CHAIR
AS IT RELATES TO THE PAST FOR
BOTH FOR THE ECONOMY AND THE
STOCK MARKET.
>> THAT'S A GREAT
QUESTION AND THAT IS VERY GOOD
QUESTION. I THINK THAT I THINK
QUESTION FOR HIM THE ANSWERS
HAVE AND THE COUPLE.
THE INTEREST RATE ENVIRONMENT
POTENTIALLY POLITICIZED
INFLATION ENVIRONMENT. THOSE
ARE 2 THINGS
THAT DON'T NECESSARILY WANT TO
BE HAVING THIS CONVERSATION YOU
WANT TO BE HAVING THE SAME
TIME.
AND SO YOU KNOW THAT THE FED
HAS A STRUCTURE. THE PRIMARY
MISSION IS TO
MANAGE INFLATION. FULL
EMPLOYMENT YOU JUST YOU RECENT
HISTORY RIGHT HAVE THIS NEW THE
JOB OF HELPING TO KEEP MARKETS
AND THERE ARE
UPWARD TRAJECTORY. THAT'S A
TOUGH THING TO DO AND SO
RECONCILING THAT ENTIRE
CONVERSATION WAS THAT.
HOW WE DECOUPLE ONE OF THESE
THINGS SO THAT
OUR ECONOMIES ARE A REFLECTION
OF OUR STOCK MARKET IS THOSE 2
THINGS SEPARATE.
>> OKAY LAST QUESTION
JOSH. I YOU'VE BEEN A TEAM
SPORT HERE IN STICKING WITH US
AS WE TRY TO MAKE SENSE OF A
SECOND DAY OF A MARKET MELTDOWN
HERE ON WALL STREET WITH
VOLATILITY VERY MUCH BACK WITH
IN THE
STOCK MARKET TRADING COMMUNITY
A RECENT DISAPPOINTING CYBER
MONDAY SALES AND ACTUALLY A
DECLINE IN CYBER MONDAY SALES
FOR THE FIRST TIME EVER AS LONG
AS THIS DATA
HAS BEEN I KEPT TRACK CODY
ACCORDING TO ADOBE ANALYTICS IS
THAT ANY SORT OF WARNING SIGN
TO YOU THAT CYBER MONDAY SALES
COLLECTIVELY THE DOLLAR
THE AMOUNT OF MONEY SPENT ON
CYBER MONDAY ACTUALLY FELL.
>> I WOULD
SAY HOLD HER THAT SHE WANTS OR
NEEDS IT EVEN THOUGH, AND I
MENTIONED THAT THE CONSUMER IS
STRONG IT IS STRANGE THING
CONSIDERING WHERE
WE ARE THAT CYBER MONDAY WAS
WAS LACKING I THINK WE STILL
WILL SEE SOME SUN PRINCESS
PICKUPS THROUGHOUT YOU KNOW THE
WHOLE OF THE ONCE YOUR EYE BUT