4.6 • 658 Ratings
🗓️ 18 October 2023
⏱️ 53 minutes
🧾️ Download transcript
Even though the market has been dropping for the past 3 months, very few people think it is going lower.
BIG QUESTION: Why does virtually no one on Wall Street believe J Powell?
He has been clear. We have been clear. Rates will be higher for longer than most people think. The markets are starting to reflect it, wait till it is fully baked in. Not a rollercoaster I want to be on.
Today's Panelists:
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0:00.0 | Welcome to the Money Tree Investing Podcast. |
0:04.5 | Stock market, wealth, personal finance, value stocks, invest in your life. |
0:11.1 | Hello, Smart Money Tree podcast listeners. |
0:13.0 | Welcome to this week's show. |
0:14.1 | My name is Kirk Chisholm and I'll be your host. |
0:16.2 | So today I'm joining with my good friend Doug Heyren. |
0:18.3 | Hey, Doug. |
0:19.0 | Hey, Kirk. |
0:19.5 | How you doing today? |
0:20.2 | It's always a pleasure to be here. There's no place I'd rather be |
0:23.7 | than spending time with you, Kirk. Oh, that's so sweet, Doug. If only you told the listeners what |
0:28.3 | you really thought. I was going to say, now that we've gotten all the lies out of the way, |
0:32.7 | we're going to spend the time telling the rest of the listeners the truth. Yes. Let's talk about politics, Doug. That's a good |
0:38.2 | way to start that conversation. That's right. Hey, kissing babies. Yeah, kissing babies. Stumping all the way. |
0:45.3 | All right. Well, let's start this week. And I titled this, The Sky is Falling or Just the Market in Jest, |
0:50.4 | because I've been getting a lot of comments, thoughts, and just curiosities about what's going on. |
0:57.0 | And so I wanted to tap into it without tapping into it. So what I find fascinating is people get stuck in, |
1:04.3 | some people would call it time dilation. And you could use this to mean many different things. |
1:09.0 | I'm going to try to describe it in a way that hopefully is illustrated for people. |
1:13.7 | Time dilation is when you look at something, you naturally think that it's going to go on forever. |
1:19.7 | So there's some sort of recency bias in there like, oh, the market's up. It's going to go up forever, which is great. |
1:25.8 | Or another version of time dilation is, oh, yeah, |
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