But it also helps to explain to people who say, how can the market be so strong given, you know, fill in the blank, inflation uncertainty, Fed policy uncertainty, election uncertainty, two wars going on.

And the answer is, well, under the surface,

there's been a tremendous amount of turmoil and churn

and rotation and weakness,

maybe more reflective of all these macro concerns. I'm Ricky Mulvey and that's Liz Ann Saunders, the chief investment strategist at Charles Schwab.

The Motley Fool's Bill Mann caught up with Saunders for our member event, Foolfest.

And on today's show we're playing a cut of their conversation. They discuss why

individual investors don't necessarily need to be in the

Magnificent Seven to do well, the state of inflation, and how smaller companies could benefit

from profit-taking at the top of the market.

So overwhelmingly the people that you're speaking to individual investors they have jobs they have hobbies they have kids they have you know addictions to candy crush whatever it is that that claims their time

As a professional investor, I've come to realize two things. One is that investing is pretty hard and two, there's way more that I could focus on that I have time to focus on.

So I'm going to give you a platform for a moment.

For individual investors, you know, with their Candy Crush Joneses and their taxable accounts.

What do you think is the most appropriate way for them to incorporate the type of

macroeconomic insights that you produce?

Well, the absence of time for a lot of people means they just

don't have the ability to drink from the fire hose of information that I do and that's

just because that's my job it's not part of my job it is it is my job it's not just interpreting all the information out there but trying to weed through what matters what doesn't matter, somehow get it to, you know, in my gut, in my brain and then figure out a way to

communicate that effectively to a very, very large, in our case, nine trillion dollar client audience. I think for for most

individual investors is a couple of important things to remember. First have a plan

before you start figuring out, well, what

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