>> IF YOU LET'S TAKE A LOOK AT
BACK AT THE MAJOR INDEXES AGAIN
A MIXED MARKET TOO TODAY, THE
DOW OFFICIALLY SETTLING DOWN
JUST
AFTER HALF THE POINT THAT
BASICALLY HUGGING THE FLAT LINE
AND I DO WANT TO BRING IN
ATLANTA. THE AS CEO AND FOUNDER
OF MITT WEALTH MANAGEMENT
ADAM, THANKS SO MUCH FOR COMING
ON THE SHOW THIS AFTERNOON HAS
CERTAINLY MAKES MARKET WE GOT
THE FMC MINUTES AT
THIS AFTERNOON AS WELL THE TAPE
OR DOES STILL SEEM TO BE ON
TRACK WITH FIRST RATE RISE
PERHAPS AS SOON AS NEXT YEAR.
WHAT'S YOUR REACTION TO THE
MANY HEADLINES BEHIND THIS
MARKET ACTION TODAY.
>> WELL, THE FACT OF THE MATTER
IS THE ECONOMY'S GOING THROUGH
A TRANSITION AND WE DO HAVE
SUPPLY CHAIN ISSUES WE
DO HAVE INFLATION ISSUES BUT
THE BIG THING THAT I WANT TO
STRESS WITH FOLKS IS.
THE STRENGTH OF THE U.S. HOUSE
WILL IT'S UP 25% THAT'S
UNPRECEDENTED WE HAVE 2.5
TRILLION IT
IN CASH SITTING ON THE
SIDELINES AND I THINK THAT PUTS
US IN A REALLY UNIQUE
SITUATION. I MEAN WE'VE TALKED
ABOUT CPI. THE UP OVER THE
HIGHEST OVER THE LAST 8 YEARS
BUT
EARNINGS GROWTH YEAR OVER YEAR
IS UP YOU KNOW NEARLY A 30%.
SO YOU KNOW
YES, WELL AND I ARE COST BUT
THERE'S A TON OF CASH ON THE
SIDELINES. VALUATIONS ARE A
LITTLE BIT HIGHER
RIGHT NOW THAN THEY ARE
HISTORICALLY IN THE 5 YEARS
THEY THEY'VE AVERAGED
ABOUT 18 RIGHT NOW THERE ARE
ABOUT 20, BUT AT THE SAME TIME
WHENEVER THE GOVERNMENT REJECTS
MONEY INTO THE SYSTEM
HISTORICALLY
THE MARKET IT'S BEEN GOOD
EFFECT ON PREDICTING THAT THE
MARKET WILL BE UP TO 15 PERCENT
OF THE NEXT
12 MONTHS, A LOT OF INDUSTRY
ANALYSTS ARE SAYING OK SO.
>> IT'S STILL GOT TO GET
THROUGH THE END OF THIS YEAR,
THOUGH OF COURSE THE 3RD
QUARTER EARNING SEASON NOW
REPORTING SEASON. THAT'S UPON
US ALL SAY THAT EARNINGS
QUESTION
MOMENTARILY, ADAM. HOWEVER,
WHEN WE SEE INFLATION DATA THIS
MORNING AS SHOWING THAT SOME
CATEGORIES OF MORE THAN 40% IN
TERMS OF PRICE RISES AND
INFLATION AT ITS HIGHEST LEVEL
IN MORE THAN A DECADE. HOW DO
WE SEE THE 10 YEAR
TREASURY YIELD COME DOWN TO 1.5
4%. AND THE NASDAQ
RISING NOW THE TOTALLY IN CAN
GREW IT FROM WHAT HAS BEEN
TRANSPIRING IN THIS MARKET
SINCE THE SPRING.
>> YEAH, BUT THE FACT OF THE
MATTER IS YOU KNOW 75% OF
COMPANIES UP TO 80% OF
COMPANIES ARE
EXCEEDING EARNINGS AND EVERYONE
IS IGNORING YOU KNOW CAUSE OR
NOT A PLACE I WANT TO BE AN
IMPACT ON ENCOURAGING FOLKS TO
STAY AWAY FROM CORPORATE COSTS
ARE NOT IN PLACE WE NEED TO BE
ALL YOU KNOW IT THE FACT OF
THEM AS LONG AS INFLATION
IS REASONABLE UNDER 6% THE
STOCK MARKET HAS DONE
INCREDIBLY WELL OVER A LONG
PERIOD
OF TIME. I THINK WE NEED TO
STAY TAKE A STEP BACK AND STOP
LOOKING AT THIS SUCH A SHORT
TERM BASIS I THINK THAT'S VERY
FRUSTRATING AND YOU KNOW I
I THINK THE FACT OF THE MATTER
IS A LOOK AT OTHER ECONOMIES
AND OTHER NATIONS
LIKE INDIA. IF THEY HAD YOU
KNOW THE DELTA VARIANT IT WENT
WAY UP AND THE SAME THING
HAPPENED HERE. I THINK THE
RECESSION RISKS ARE LOW.
I THINK YOU KNOW ULTIMATELY.
YOU KNOW. PEOPLE NEED TO BUY
THIS IS A GREAT TIME.
>> THE PRESIDENT ANNOUNCED
TODAY THAT THE PORT OF LOS
ANGELES ADAM WILL BE JOINING
THE PORT OF LONG BEACH AT OUR 2
BIGGEST PORTS HERE IN AMERICA
ON THE
WEST COAST IN TURN INTO
A 24 7 OPERATION OF COURSE, YES
IT DOES REQUIRE THAT BY AND FOR
RETAILERS. SOME OF ALREADY DONE
THAT LIKE WAL-MART AND TARGET
AND FREIGHTERS AS WELL BUT IS
THAT
SOMETHING MAKING THEY CAN TRULY
I TURN THIS ECONOMY AROUND.
>> YES, I MEAN YOU KNOW THE
FACT OF THE MATTER IS WE'RE
PROBABLY GOING TO BE
STRUGGLING.
MAYBE THROUGH 2023, BUT THAT'S
JUST GOING TO YOU KNOW THE
PROFITS THAT RT ARE EXCEEDING
ACROSS THE THE FACT OF THE
MATTER IS IF YOU GO TO THAT
HOSPITALS THE WORLD GO TO THE
AIRPORTS ARE ANYTHING THEY'RE
ALL AT ALL PEOPLE ARE SPENDING
MONEY AND THEY EXPECTED YOU
KNOW PEOPLE SPENT LESS MONEY IN
AUGUST THEY ACTUALLY SPENT MORE
MONEY SO YOU KNOW THAT'S
SOMETHING THAT WE LOOK AT ALL
UTLEY AND FOLKS NEED TO YOU
KNOW REMAIN CALL. AND
IN PRAYER IF THEY'RE GOING TO
OWN STOCKS FOR THE REST OF
THEIR LIVES. AND EVERYTHING
GOES THROUGH CYCLES IN.
>> NOW AT 3RD QUARTER EARNING
SEASON OFFICIALLY UPON US AND I
THINK THIS I'M MORE SO THAN
REALLY A YOU KNOW OTHER THAN
THE DEPTHS OF THE PANDEMIC I
THINK THERE ARE REAL CONCERNS
ABOUT THE STATE I THINK
CORPORATE AMERICA IS IN
ESPECIALLY WITH THE SUPPLY AND
HIRING SHORTAGES. WHAT ARE YOU
ANTICIPATING THIS EARNING
SEASON AND WHAT WILL BE THE
IMPACT ON THE STOCK MARKET.
>> WELL 71% OF COMPANIES ARE
YOU KNOW REPORTING SUPPLY CHAIN
ISSUES. BUT ULTIMATELY ALL THE
REVENUES ARE OFTEN SO THAT'S
WHAT I'M FOCUSED ON A LOT OF
COMPANIES ARE A LOT BETTER
DECISION THAT THEY WERE AND ARE
PRYING HER PRIOR UP.
ISSUES THAT WE'VE HAD IN THE
ECONOMY SO ULTIMATELY YOU KNOW
THE RECESSION RISKS
ARE LOW. THE GAME CHANGER RIGHT
NOW IS WE HAVE A TON OF CASH
SITTING ON THE SIDELINES.
THAT'S UNPRECEDENTED. NO ONE IS
TALKING ABOUT THAT THAT NEEDS
TO BE HIGHLIGHTED BECAUSE THE
GET ECONOMY IS DRIVEN BY THE
CONSUMER AND I'M SURE WE'VE ALL
HEARD THAT 70% OF IT BUT WE'VE
NEVER HAD THIS MUCH CASH ON THE
SIDELINES. AND I THINK THAT'S
WHERE THE FOCUS NEEDS TO BE.
>> CASH ON THE SIDELINES, NOT A
LOT OF
PLACES TOO PUT IT OF COURSE HE
SAID YOU EXPECT THE MARKET AT
15 PER SAYS NEXT 12 MONTHS
ADAM, BUT WHAT HAPPENS BETWEEN
NOW AND YEAR-END WE DO HAVE A
TAPE OR THAT IS LIKELY TO START
BEFORE THE END OF THE YEAR.
>> WELL YOU KNOW OF THE DEBT
UNFORTUNATELY, A LOT OF THE
POLITICIANS GO IN A CRISIS SO
WE'LL HAVE SOME SHORT-TERM BALL
REALLY THE BOTTOM LINE IS WE'VE
GONE 18 MONTHS WITHOUT A FIGHT
PERCENT CORRECTION AND IF YOU
LOOK
AT THAT LAST 10 YEARS OTHERS
THAT YOU KNOW 6 CORRECTIONS OF
MORE THAN 10% ONLY ONE OF THOSE
YEARS THE MARKET WAS DOWN SO
ULTIMATELY. I THINK THESE
LITTLE DIPS
IN THEM A GREAT OPPORTUNITIES,
I LIKE STOCKS LIKE BLACKROCK
WE'VE SEEN DONE REALLY WELL
THAT WAS
ANOTHER ONE, THE BLUE CHIPPERS
COSTCO KNOW COSTCO'S ONLY PLACE
NOW WORLD CAN BUY A ROLEX AND
AND IT PEOPLE THAT KNOW THEIR
LOVE IT PEOPLE DO NOT MONEY IN
THEIR POCKET.
>> AND THEY'VE GOT MONEY IN
THEIR WE KNOW HOLIDAYS, HERE
UPON US
AS WELL. CONSUMER SPENDING
THOUGH STILL NOT AS HIGH.
I THINK IS SOME ECONOMISTS HAD
EXPECTED ADAM CAN THE HOLIDAYS
CHANGE THAT.
>> YEAH I MEAN YOU KNOW I THINK
WITH VACCINATION RATES UP.
IF YOU LOOK AT THE HIGHEST
VACCINATION PLACES IN THE
COUNTRY LIKE THEY REPORTED LAST
WEEK.
>> NO
CO.
>> IT CASES ARE NO POSITIVE
CASES SO I THINK WE'RE GOING TO
GET BACK TO SOME
NORMALIZATION AND I THINK YOU
KNOW PEOPLE ARE READY TO GO
ALL. I JUST GOT BACK
FROM CALIFORNIA. IT WAS IT WAS
PLEASANTLY SURPRISED THAT
PEOPLE EVERYWHERE WAS BUSINESS
AS USUAL.
>> BUSINESS AS USUAL ON TERMS
OF STANDOUTS WITH THE ENERGY
SECTOR SEEING PRICES RISE SO
MUCH OUR OIL STOCKS ONES THAT
YOU'RE LOOKING AT.
>> OH DEFINITELY I LIKE WELL
OIL THAT WE LIKE TO PARK MONEY
A YEAR AND A HALF AGO, YOU KNOW
WE WERE SELLING OUT OF
POSITIONS LIKE EXXON BECAUSE
THERE RICARD IT OR DID BUT I
LIKE CHEVRON'S OF THE WORLD
MARATHONS IN THE WORLD. I THINK
THERE'S A LOT OFF WE'RE TUNING
IN THERE AND HISTORICALLY THE
MARKET HAS DONE WELL IN THIS.
TYPE OF ENVIRONMENT. THIS
EXPANSION.
>> HI CAN OIL PRICES
GO $82 A BARREL EARLIER
THIS WEEK I EVEN THOUGH DOWN
JUST A LITTLE BIT TO $80 A
BARREL TODAY AT A TIME
TRADITIONALLY WHEN OIL PRICES
FALL BECAUSE IT COMES AFTER
THAT BUSY SUMMER DRIVING
SEASON, HOW MUCH HIGHER CAN
EASE PRICES RISING AND WHAT
DOES THAT MEAN FOR ENERGY
STOCKS.
>> I THINK OPEC DOES REMAIN A
COMMITTED TO INCREASING
PRODUCTION
GRADUALLY IN YOU KNOW AS LONG
AS STOCK OR OILS
ABOVE SAID THE THEY CAN BE
PROFITABLE I DON'T THINK
THEY'RE GOING TO GO CRAZY BUT A
LOT OF THE MAJOR PLAYERS
WHETHER IT BE CONOCO PHILIPS
ARE ALL COMMITTED TO BEING A
LOW LOW COST PROVIDERS AND I
THINK THAT'S WHERE THE TREND IS
AND I THINK THERE'S SOME MONEY
TO BE MADE IN SOME OF THE
BIGGEST MONEY MANAGERS OUT
THERE ARE ADDING THAT THE
PORTFOLIOS.
>> A QUESTION FOR YOU AND
BEFORE YOU LET YOU GO IS I KNOW
AT LEAST YOU KNOW OVER THE NEXT
12 MONTHS WE DO EXPECT THAT THE
ECONOMY I WILL CONTINUE TO CHUG
ALONG SLOW GROWTH. THE STOCK
MARKET WILL CONTINUE
TO RISE. ANY THAT WE COULD SEE
A CRASH A MAJOR CORRECTION EVEN
IF IT IS
2 OR 3 YEARS OUT FROM NOW JUST
KNOWING THAT THIS CORONAVIRUS
HAS CHANGED OUR DAILY LIVES AND
CORPORATE AMERICA'S LIVES IN SO
MANY WAYS
AND I THINK THE OUTCOME STILL A
BIT UNCLEAR FOR ALL INVESTORS.
>> YEAH, I MEAN THERE'S ALWAYS
GOING TO BE RESCUED IN THE
MARKETS AND I TELL FOLKS ALL
THE TIME WE CAN STRESS ABOUT
IT, BUT IN THE MEANTIME LET'S
GO MAKE MONEY IN
THE MARKET AND THERE'S A LOT OF
COMPANIES OUT THERE THAT ARE
INTERNET BASED YOU KNOW WHETHER
THE CROWDS
TRY WORLD. YOU KNOW A LOT OF
FOLKS ARE BUYING THINGS ONLINE
AND I THINK
THE DEMOGRAPHICS ARE CHANGING
SOME OF THE BIGGEST COMPANIES
THAT WORK YOU KNOW JUST PART OF
THE UNITED STATES LIKE IBM,
MOST OF THEIR WORKFORCE IS IN
INDIA AND SO THAT'S GOT TO
BRING DOWN COSTS AS WELL WE'RE
IN A MUCH MORE GLOBAL
ENVIRONMENT. CAN YOU
KNOW THE UNFORTUNATELY I DO
THINK THE U.S. IS TREATING IT
THE WRONG I THINK THE
REAL OPERA TRINITY IS GOING TO
BE IN PLACE IS EMERGING MARKETS
PLACES LIKE INDIA, SOME OF YOUR
LARGEST EMPLOYERS IN THE
UNITED STATES. JORI OF THEIR
EMPLOYEES ARE BASED IN INDIA