Live at Future Proof

The Compound and Friends

Josh Brown

Business News, Business, Investing, News

4.7 • 2.2K Ratings

🗓️ 16 September 2022

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

On episode 62 of The Compound and Friends, Shirl Penney joins Michael Batnick and Downtown Josh Brown to discuss market volatility, adjusting to a higher risk-free rate, investment banking, the state of wealth management, hiring top advisors, and much more! This episode was recorded in front of a live audience at Future Proof on 9/13/22. Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/disclosures/ Inclusion of advertisements by podcast sponsors does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers: https://abnormalreturns.us5.list-manage.com/track/click?u=f8843b0fc6f0ed7d35e67dcf5&id=33b07916d1&e=4e0f612ef0. Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Thank you Nicholas, Nick's got copies of his of his book and the the price that he's
0:25.0	offering them at here. They are selling like hotcakes. It's called zero dollars. Just stop buying. Actually,
0:34.4	today would be a great day. Great to stop buying. So first things first, we're going to do some
0:38.3	market stuff, but I want to introduce you to my friend Cheryl Penny, who I consider to be one of
0:43.7	the Titans in the RIA space. I mean that with absolutely no sarcasm whatsoever, Cheryl has built
0:51.8	a massive platform for independent advisors, breakaway advisors, people who want to launch
0:58.7	their own firm and do so with a very high level of professionalism. And I've been in admire of
1:04.4	yours since we met and I heard your story and what you've built. So it really means a lot to me
1:08.8	personally to have you in my hot box today. I was like 110 degrees in here. I didn't tell your
1:19.0	team about a metal box on the beach. I might take my shirt off. Badnik is is basting like a
1:26.0	rotisserie chicken. Anyway, welcome to the compound and friends endurance test. Thank you,
1:35.1	thank you guys so much for being here and being part of the show. The stock market is in the midst
1:39.6	of a little mini panic or a crash. Michael, give us some of those. All right, so the Dow fell
1:45.9	12 hundred points today yesterday. In this very hot box, I was saying that the S&P 500 just had
1:52.6	its best 4-day run since the lows in June 2000. Well, 22 and it's over. So they all got ripped away
1:58.8	today. So the Dow fell 12 hundred points dollars up rates up everything else down. If you own it,
2:04.5	it's down. Yeah. But other than that, it's you know, it's sunny out. It's nice. Yeah.
2:09.4	But let me just say what the good news is. And by the way, thank you for inviting me to an event
2:17.8	where I'm actually one of the old people. Yeah, which one of the many things. We're the same age.
2:22.2	I feel old. Yeah, I do. Yeah. So for those of you who haven't been in the industry as long,
2:27.9	this is the advisor Super Bowl. Right? You live for moments like this. Football season just
2:34.4	kicked off. And right now is the moment in time where everyone wants to talk to an advisor.
	...

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