We study billionaires and this is episode 115 of the Investors Podcast.

Broadcasting from Bel Air Maryland. This is the Investors Podcast.

They'll read the books and summarize the lessons. Don't test the waters. Tell you what it's called.

They'll give you actionable investing strategies.

Your host Preston Pish and Stig Broderson.

Hey, how's everybody doing out there? This is Preston Pish and I'm your host for the Investors Podcast.

And as usual, I'm a company by my co-host Stig Broderson, Owl and Soul South Korea.

Today we have one of our favorite guests back on the show and that is Toby Carlaw.

And we just wanted to do an episode to talk about current market conditions,

everything that's going on in the world right now. We've got a new president elect,

all sorts of changes in the markets and we think that it's probably wise just to talk about all these things that are going on.

So I want to open up the show and welcome to the show Toby, always a pleasure to have you back on.

Thanks always a pleasure to be here.

All right, so I want to open up the show with this idea that back in the 9th of March 2009,

the Dow Jones industrial average closed at 6,500.

And then this week in November 2016 and we're recording this on the 23rd in November,

the Dow has passed 19,000.

And when you think about going from 6,500 to 19,000 on the Dow,

and we've only had one rise in interest rates,

the Federal Reserve has only raised interest rates one time through that entire 300% gain.

And then let's add this in there, the one time that they did raise the interest rates,

they did it at 0.25%.

...