RUSH TRANSCRIPT Back hiring ░░░░░░░░ trimming its marketing budget ░░░░░░░░ s turn back to ░░░░░░░░ major indexes joining me ░░░░░░░░ is just 11 is ░░░░░░░░ principal because wealth management ░░░░░░░░ russell thanks for coming ░░░░░░░░ the show as says ░░░░░░░░ gains across the board ░░░░░░░░ we like to see ░░░░░░░░ Yeah would you rally ░░░░░░░░ Would you call it ░░░░░░░░ relief rally I would ░░░░░░░░ hopefully the start of ░░░░░░░░ relief rally Talk to ░░░░░░░░ more about that Well ░░░░░░░░ think it started with ░░░░░░░░ U K they started ░░░░░░░░ said that they were ░░░░░░░░ to do everything they ░░░░░░░░ to support their bond ░░░░░░░░ so that sort of ░░░░░░░░ over into us fixed ░░░░░░░░ markets which in turn ░░░░░░░░ help the U S ░░░░░░░░ market today I thought ░░░░░░░░ was very positive apple ░░░░░░░░ a weakening factor in ░░░░░░░░ beginning of the day ░░░░░░░░ down between 3 4 ░░░░░░░░ then apple strains and ░░░░░░░░ think some of the ░░░░░░░░ might have been may ░░░░░░░░ misinterpreted and and I ░░░░░░░░ you said apple ended ░░░░░░░░ the day down one ░░░░░░░░ which is quite a ░░░░░░░░ better than it had ░░░░░░░░ and being a big ░░░░░░░░ of the indices apple ░░░░░░░░ a day of magnified ░░░░░░░░ on the on the ░░░░░░░░ s results So I ░░░░░░░░ seeing press so that ░░░░░░░░ might be able to ░░░░░░░░ an extended relief rally ░░░░░░░░ that the case because ░░░░░░░░ think sentiment gotten so ░░░░░░░░ especially for the end ░░░░░░░░ last week in the ░░░░░░░░ of this week too ░░░░░░░░ is there hope is ░░░░░░░░ real hope Well I ░░░░░░░░ think the market was ░░░░░░░░ that s pretty much ░░░░░░░░ common agreement there The ░░░░░░░░ were oversold after the ░░░░░░░░ s comments last week ░░░░░░░░ Jackson hole comments at ░░░░░░░░ kind of let into ░░░░░░░░ we ve seen a ░░░░░░░░ decline We we had ░░░░░░░░ market bottoming in in ░░░░░░░░ and the market rallied ░░░░░░░░ to a better than ░░░░░░░░ 50 gain from the ░░░░░░░░ and then all of ░░░░░░░░ sudden we had like ░░░░░░░░ said we have the ░░░░░░░░ hole comments we have ░░░░░░░░ Fed comments after their ░░░░░░░░ last week which led ░░░░░░░░ that moment those more ░░░░░░░░ than we re going ░░░░░░░░ do everything we have ░░░░░░░░ do where you knew ░░░░░░░░ we can do to ░░░░░░░░ inflation down it may ░░░░░░░░ some pain for investors ░░░░░░░░ cause some pain in ░░░░░░░░ economy because I m ░░░░░░░░ for consumers So not ░░░░░░░░ those are the exact ░░░░░░░░ I think that s ░░░░░░░░ was implied And that ░░░░░░░░ has led for 5 ░░░░░░░░ days of severe market ░░░░░░░░ I think everybody s ░░░░░░░░ of rushing ahead to ░░░░░░░░ to get ahead of ░░░░░░░░ you know There s ░░░░░░░░ s going to be ░░░░░░░░ pain So let s ░░░░░░░░ out quick but eventually ░░░░░░░░ selling comes to an ░░░░░░░░ were oversold now we ░░░░░░░░ having what will hopefully ░░░░░░░░ a relief rally and ░░░░░░░░ in the first part ░░░░░░░░ October Yeah and market ░░░░░░░░ yesterday said new highs ░░░░░░░░ the end of the ░░░░░░░░ at this point basically ░░░░░░░░ off the table walk ░░░░░░░░ through some of the ░░░░░░░░ wrestle in your longer ░░░░░░░░ it outlook out we ░░░░░░░░ see relief rallies in ░░░░░░░░ markets that does happen ░░░░░░░░ that s normal But ░░░░░░░░ long term one expectation ░░░░░░░░ how do people manage ░░░░░░░░ money Well again there ░░░░░░░░ long term and there ░░░░░░░░ long term the immediate ░░░░░░░░ term would be there ░░░░░░░░ be more real I ░░░░░░░░ if you see the ░░░░░░░░ increasing rates by one ░░░░░░░░ of the meeting they ░░░░░░░░ they re going to ░░░░░░░░ up maybe one of ░░░░░░░░ quarter between now and ░░░░░░░░ end of the year ░░░░░░░░ they go up more ░░░░░░░░ that they re if ░░░░░░░░ feel that they need ░░░░░░░░ be more severe and ░░░░░░░░ their work to get ░░░░░░░░ this to lower inflation ░░░░░░░░ s not going to ░░░░░░░░ good for investors that ░░░░░░░░ be so that I ░░░░░░░░ there s a 3 ░░░░░░░░ long term and then ░░░░░░░░ The 6 to nine ░░░░░░░░ long term this will ░░░░░░░░ to an end the ░░░░░░░░ will eventually bring inflation ░░░░░░░░ the economy may slow ░░░░░░░░ But once it slows ░░░░░░░░ and the Fed will ░░░░░░░░ reason to stimulate the ░░░░░░░░ in the lower rates ░░░░░░░░ I don t think ░░░░░░░░ re going to have ░░░░░░░░ do the kind of ░░░░░░░░ easing bond buying that ░░░░░░░░ did in the last ░░░░░░░░ They hopefully will be ░░░░░░░░ to a more Normal ░░░░░░░░ there is such a ░░░░░░░░ market cycle City think ░░░░░░░░ investors should stick with ░░░░░░░░ investments for now russell ░░░░░░░░ if there is more ░░░░░░░░ to the downside any ░░░░░░░░ s invasion of Ukraine ░░░░░░░░ to be ramping up ░░░░░░░░ that is no obvious ░░░░░░░░ in sight I wouldn ░░░░░░░░ make sense to sell ░░░░░░░░ these levels or stick ░░░░░░░░ it That s it ░░░░░░░░ I don t think ░░░░░░░░ should be a seller ░░░░░░░░ these levels I think ░░░░░░░░ you re when you ░░░░░░░░ talking about investors as ░░░░░░░░ to traders right The ░░░░░░░░ somebody who might be ░░░░░░░░ and out of the ░░░░░░░░ are part of the ░░░░░░░░ are certain stocks in ░░░░░░░░ short period of time ░░░░░░░░ if you re truly ░░░░░░░░ investor If you re ░░░░░░░░ a long term investor ░░░░░░░░ re saving for retirement ░░░░░░░░ you just have money ░░░░░░░░ invest and you need ░░░░░░░░ grow it faster than ░░░░░░░░ market the best way ░░░░░░░░ do that is to ░░░░░░░░ to probably remain invested ░░░░░░░░ you are close to ░░░░░░░░ invested and you have ░░░░░░░░ some loose change shaking ░░░░░░░░ I think if you ░░░░░░░░ put that into the ░░░░░░░░ over the next 6 ░░░░░░░░ 9 months probably going ░░░░░░░░ be happy that you ░░░░░░░░ that in a few ░░░░░░░░ if you are just ░░░░░░░░ with investing since things ░░░░░░░░ so unpredictable At the ░░░░░░░░ time things seem to ░░░░░░░░ very unpredictable I would ░░░░░░░░ you want it s ░░░░░░░░ s a difficult time ░░░░░░░░ invest I totally understand ░░░░░░░░ I think maybe setting ░░░░░░░░ some sort of systematic ░░░░░░░░ program makes sense And ░░░░░░░░ ll be glad you ░░░░░░░░ it you ll be ░░░░░░░░ in the future and ░░░░░░░░ I would just add ░░░░░░░░ I mean what happens ░░░░░░░░ times like this is ░░░░░░░░ roll out all the ░░░░░░░░ sayers mention any names ░░░░░░░░ they re pretty familiar ░░░░░░░░ And then they start ░░░░░░░░ get your attention right ░░░░░░░░ But I don t ░░░░░░░░ this is going to ░░░░░░░░ any different than the ░░░░░░░░ cycle s I ve ░░░░░░░░ through and work through ░░░░░░░░ you know there was ░░░░░░░░ tech bust There was ░░░░░░░░ great financial crisis the ░░░░░░░░ know the housing same ░░░░░░░░ the housing bubble burst ░░░░░░░░ things happen periodically They ░░░░░░░░ not find their painful ░░░░░░░░ have to live through ░░░░░░░░ But that those who ░░░░░░░░ and those who stick ░░░░░░░░ their original plan I ░░░░░░░░ the n word in ░░░░░░░░ long term Dollar cost ░░░░░░░░ I think another way ░░░░░░░░ investing as you were ░░░░░░░░ their russell just for ░░░░░░░░ viewers who are maybe ░░░░░░░░ bit new to investing ░░░░░░░░ how this but we ░░░░░░░░ had many people come ░░░░░░░░ the show saying just ░░░░░░░░ same thing is you ░░░░░░░░ your how in have ░░░░░░░░ systematic approach where you ░░░░░░░░ a little over time ░░░░░░░░ especially since it is ░░░░░░░░ rare that you see ░░░░░░░░ stock market in the ░░░░░░░░ that we have seen ░░░░░░░░ 3 major indexes now ░░░░░░░░ in a bear market ░░░░░░░░ and losers right I ░░░░░░░░ collecting only investing in ░░░░░░░░ index it s something ░░░░░░░░ I think people are ░░░░░░░░ thinking about we ve ░░░░░░░░ to leave it there ░░░░░░░░ Evans thanks so much ░░░░░░░░ coming on the show ░░░░░░░░ managing principal at the ░░░░░░░░ of management We do ░░░░░░░░ turn back to our ░░░░░░░░ story of the day ░░░░░░░░ of