While joining the way ░░░░░░░░ this morning as Michael ░░░░░░░░ si io lines Byrd ░░░░░░░░ private wealth management good ░░░░░░░░ Michael thanks for joining ░░░░░░░░ so the last full ░░░░░░░░ week of 20 twenty ░░░░░░░░ was quite eventful and ░░░░░░░░ With some record breaking ░░░░░░░░ now market breath continue ░░░░░░░░ deteriorate under the surface ░░░░░░░░ mega cab tech It ░░░░░░░░ maintaining their games but ░░░░░░░░ that we can catch ░░░░░░░░ breath and as we ░░░░░░░░ into the end of ░░░░░░░░ year what is your ░░░░░░░░ on where we stand ░░░░░░░░ terms that the broader ░░░░░░░░ The market this is ░░░░░░░░ better years and 20 ░░░░░░░░ more seen that concentrations ░░░░░░░░ juices can t check ░░░░░░░░ executive has deftly robben ░░░░░░░░ year we go returns ░░░░░░░░ areas of I still ░░░░░░░░ the markets not going ░░░░░░░░ run mountains All caps ░░░░░░░░ the little think large ░░░░░░░░ would go The electric ░░░░░░░░ urges And as we ░░░░░░░░ in to 20 twenty ░░░░░░░░ there s still potential ░░░░░░░░ but we don t ░░░░░░░░ a crystal ball So ░░░░░░░░ s talk about diversification ░░░░░░░░ a year of double ░░░░░░░░ percentage gains for the ░░░░░░░░ you struck averages and ░░░░░░░░ many sectors that the ░░░░░░░░ and p five hundred ░░░░░░░░ double digit percentage gains ░░░░░░░░ may not be top ░░░░░░░░ mine but what super ░░░░░░░░ mean to you especially ░░░░░░░░ we head into 20 ░░░░░░░░ five That really diverse ░░░░░░░░ gone through like a ░░░░░░░░ Well their own different ░░░░░░░░ but it s the ░░░░░░░░ thing Or owning industrials ░░░░░░░░ how real estate that ░░░░░░░░ a high energy that ░░░░░░░░ a that s a ░░░░░░░░ That s where your ░░░░░░░░ get too tight want ░░░░░░░░ look for diversification see ░░░░░░░░ I obviously didn t ░░░░░░░░ more on Obesity is ░░░░░░░░ big thing You want ░░░░░░░░ be involved in ivory ░░░░░░░░ I think having different ░░░░░░░░ from allow you to ░░░░░░░░ have some justification persecution ░░░░░░░░ from having one central ░░░░░░░░ which was most part ░░░░░░░░ the I It s ░░░░░░░░ have a lot of ░░░░░░░░ Worst case goes to ░░░░░░░░ your volatility to spread ░░░░░░░░ risk from different themes ░░░░░░░░ we think you re ░░░░░░░░ to work with different ░░░░░░░░ that will work And ░░░░░░░░ are here after the ░░░░░░░░ Federal Reserve meeting of ░░░░░░░░ year at the summary ░░░░░░░░ economic projections Often refer ░░░░░░░░ dot Pod show that ░░░░░░░░ media median expectation is ░░░░░░░░ for just two rate ░░░░░░░░ and 20 twenty five ░░░░░░░░ GDP projections were a ░░░░░░░░ over if I hire ░░░░░░░░ wall projections for unemployment ░░░░░░░░ lower Now when it ░░░░░░░░ to expectations especially on ░░░░░░░░ heels of the latest ░░░░░░░░ figures as well as ░░░░░░░░ what is your take ░░░░░░░░ need to keep in ░░░░░░░░ Palace stated that the ░░░░░░░░ does remains strong and ░░░░░░░░ did have an effect ░░░░░░░░ the mark It s ░░░░░░░░ Where are your concerns ░░░░░░░░ from right now I ░░░░░░░░ actually markets to expecting ░░░░░░░░ comfortable Year ago remember ░░░░░░░░ first and lot of ░░░░░░░░ participants seven rate cuts ░░░░░░░░ you But what you ░░░░░░░░ there Your mouth and ░░░░░░░░ do we think you ░░░░░░░░ going to you probably ░░░░░░░░ zero one I think ░░░░░░░░ is going to to ░░░░░░░░ more peace is a ░░░░░░░░ I don t see ░░░░░░░░ back to where it ░░░░░░░░ t you re 20 ░░░░░░░░ and 20 two but ░░░░░░░░ last three or four ░░░░░░░░ inflation move higher We ░░░░░░░░ that s going to ░░░░░░░░ on the sidelines for ░░░░░░░░ long time the greats ░░░░░░░░ Irish going to be ░░░░░░░░ area where small cap ░░░░░░░░ get are not going ░░░░░░░░ do well because that ░░░░░░░░ can t check which ░░░░░░░░ mostly not leverage interest ░░░░░░░░ do well because you ░░░░░░░░ t borrow any money ░░░░░░░░ think the us dollar ░░░░░░░░ do well so I ░░░░░░░░ you ve got to ░░░░░░░░ what s lurking last ░░░░░░░░ months I m going ░░░░░░░░ continue the work I ░░░░░░░░ the expectation we have ░░░░░░░░ inflation s gonna be ░░░░░░░░ You need own stocks ░░░░░░░░ that have some pricing ░░░░░░░░ I I think of ░░░░░░░░ world s not going ░░░░░░░░ go higher the rest ░░░░░░░░ the commodity complex thoughts ░░░░░░░░ want to have some ░░░░░░░░ stocks and of suppressing ░░░░░░░░ And finally Michael let ░░░░░░░░ do a quick a ░░░░░░░░ track Since Bitcoin has ░░░░░░░░ a banner year it ░░░░░░░░ still over one hundred ░░░░░░░░ despite recent volatility in ░░░░░░░░ s training session where ░░░░░░░░ at Bitcoin back about ░░░░░░░░ 90 six thousand a ░░░░░░░░ 20 twenty four was ░░░░░░░░ pivotal year Priority the ░░░░░░░░ as well as blockchain ░░░░░░░░ and we saw institutional ░░░░░░░░ of digital assets increasing ░░░░░░░░ there are quite a ░░░░░░░░ of expectations for a ░░░░░░░░ regulatory and political environment ░░░░░░░░ digital assets The us ░░░░░░░░ D C is getting ░░░░░░░░ new chief who could ░░░░░░░░ long standing Legal issues ░░░░░░░░ well in simple coins ░░░░░░░░ also emerging as a ░░░░░░░░ payments tools for enterprises ░░░░░░░░ what do you expect ░░░░░░░░ see in the sector ░░░░░░░░ not just the coming ░░░░░░░░ or weeks but also ░░░░░░░░ I think you re ░░░░░░░░ entering those two golden ░░░░░░░░ crypto that administration that ░░░░░░░░ going to be pro ░░░░░░░░ mention the FCC commissioner ░░░░░░░░ lot of money up ░░░░░░░░ something with crypto and ░░░░░░░░ think the key is ░░░░░░░░ to be having each ░░░░░░░░ I ve seen Options ░░░░░░░░ allows us to be ░░░░░░░░ by a lot more ░░░░░░░░ just a handful of ░░░░░░░░ so it s kind ░░░░░░░░ become mainstream Now it ░░░░░░░░ about half a percent ░░░░░░░░ the world s assets ░░░░░░░░ see that quadrupling in ░░░░░░░░ next four years as ░░░░░░░░ people ads we re ░░░░░░░░ we re not talking ░░░░░░░░ percent of the portfolios ░░░░░░░░ at the average person ░░░░░░░░ s gonna happen portfolio ░░░░░░░░ start doing that Jesus ░░░░░░░░ up on the some ░░░░░░░░ yes there are over ░░░░░░░░ billion dollars in market ░░░░░░░░ I think that continues ░░░░░░░░ an adoption Almost next ░░░░░░░░ old I think you ░░░░░░░░ see that happen Similar ░░░░░░░░ bro one But I ░░░░░░░░ it s need to ░░░░░░░░ a lot of alter ░░░░░░░░ course something you don ░░░░░░░░ need to run by ░░░░░░░░ a lot of volatility ░░░░░░░░ can use at your ░░░░░░░░ but I think you ░░░░░░░░ have more with not ░░░░░░░░ it in the next ░░░░░░░░ years and you are ░░░░░░░░ on Okay Michael will ░░░░░░░░ you so much for ░░░░░░░░ me this morning and ░░░░░░░░ you for sharing All ░░░░░░░░ your insight have a ░░░░░░░░ holiday