Charles Thorngren on Diversifying Your Wealth
Newt's World
Gingrich 360
4.6 • 6.4K Ratings
🗓️ 5 December 2022
⏱️ 8 minutes
🧾️ Download transcript
Summary
Newt talks with Charles Thorngren, Founder and CEO of Legacy Precious Metals, about how to diversify your investment portfolio. Find out more by calling 866-484-4043 or go online to buylegacygold.com/newt
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Transcript
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| 0:00.0 | You know, with the stock markets volatility over the last year, I know many of us are wondering what's best for our financial portfolios. |
| 0:07.8 | And joining me is Charles Starngram, founder and CEO of Legacy Precious Metals. |
| 0:12.4 | He has been advising people on their personal finances and investments for over 25 years. |
| 0:18.1 | And given all of the stock market volatility with some big ups and downs in the market, I thought this is a good time to sort of |
| 0:25.8 | pick Charles's brain and get his advice. So how do you see the way the markets evolving Charles? |
| 0:31.9 | Great to be here, Newton. Yeah. |
| 0:33.5 | Interesting. The markets really are reacting almost the way that they should. |
| 0:38.0 | If you really consider what's going on, we should expect this pullback inflation being what it is. |
| 0:44.5 | The markets being told, we're going to ease up on all that free money we've been giving you for almost a decade now. |
| 0:51.3 | You have to have some reaction. And this is where we expect to see it. |
| 0:54.9 | So when we look and we say, okay, the NASDAQ 100 is down 33%. |
| 1:00.0 | It makes sense. But I would say it's not done yet. |
| 1:03.5 | Cryptocurrencies. |
| 1:05.0 | That's kind of a disaster. And it's been very painful for a lot of people. |
| 1:09.7 | 60% of its value. Now with a risky asset like that, it's not surprising. |
| 1:14.0 | It does go up tremendously and it falls tremendously. |
| 1:16.9 | But I think the one that hurts the most is when the Dow Jones industrial average is down 20%. |
| 1:22.1 | To me, that's your safe money. Right? That's where your retirement typically lives in the Dow Jones stocks. |
| 1:29.1 | So that's painful and that has ramifications. |
| 1:32.4 | But unfortunately, I don't think we're done yet. I think we see more. |
| 1:36.8 | So when you say we see more, you mean you're lucky to have more interest rate increases by the Fed, |
| 1:42.9 | more pressure on the economy and therefore more volatility in the stock market. |
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