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Money Guy Show

Dealing with an Uncertain Market, US Credit under Fire, and What does $900 Gold Mean?

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.73.1K Ratings

🗓️ 21 January 2008

⏱️ 47 minutes

🧾️ Download transcript

Summary

If you need proof that this broad sell-off is nothing new then read an article that I wrote back in October 2002. (click here for a copy) In the article I let readers know that diversification and not letting their emotions get the best of them is the secret to long-term investing. Read more at http://www.moneyguy.com/2008/01/coping-with-an-uncertain-market-us-credit-under-fire-and-what-does-900-gold-mean  Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

I bet there are a bunch of scared people out there after the crazy week.

0:21.6

Let's talk about not just the crazy week, the crazy year 2008 has been so far for us.

0:26.6

I'm recording this on the 18th of January, which is Friday, so I have not had a chance.

0:31.3

Supposedly, I saw when I went out there and looked at the news wires this morning,

0:34.9

the president is going to put out a proposal, so I won't be able to give you my feedback on that for another week,

0:41.4

but it has been wild out there.

0:43.5

If you're talking about the cycle of market emotions, I think we've run the whole gamut here this week,

0:49.5

because you know, we started out at the beginning of the week with IBM coming out with some pretty good news.

0:55.0

And then, man, have things gotten bad very quickly, and we've seen a huge pullback out there in the financial stocks.

1:01.5

And we're going to be talking about that, and I've actually got a great article.

1:04.7

Let's hopefully go shed some light, give you a little bit of hope, a glimmer of sunshine in all this craziness.

1:09.8

I am the host of the Money Guys Show, Brian Preston.

1:12.9

By day, I am a certified public accountant and a certified financial planner that is doing fee-only financial planning

1:19.4

down here on the south side of Atlanta, and you've joined us here on the Money Guys Show.

1:23.4

We are going to go beyond common sense.

1:26.0

And man, are we going to be on common sense today, because we've got to talk about a lot of these things,

1:30.3

because right now, you guys are probably looking for some type of beacon of hope

1:34.8

to make you feel better about this crazy thing we call investing.

1:40.2

So let's talk about this.

1:41.7

I did write an article back in 2002.

1:45.2

I wrote it back in October, 2002, and it's titled What You Should Know in An Uncertain Market.

1:52.3

So I think it's kind of the timeliness of this is very, very good,

...

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