Buyer Beware: Wall Street Products That Get ̶B̶o̶u̶g̶h̶t̶ SOLD, Ep #92
Posted
August 3, 2022
What’s up! It’s episode 92 of Payne Points of Wealth and markets have finally rallied! Economic data, well… still not great. Earnings…not bad. But pay attention because the forward-looking markets are telling you about the future. We’re going to explain why the market went up even in the light of huge inflation and geopolitical issues. Today on the Tipping Point, we’re going to talk about what Wall Street loves to sell you, the products, and the schemes that you need to avoid to make sure you’re on your path to financial independence.Â
You will want to hear this episode if you are interested in…
Embrace the gloom [1:05]
You can’t be all or none [3:58]
Never a bad time to be in the market [7:00]
The Tipping Point [10:47]
Question to ask yourself if the yield sounds too good to be true [12:32]
The 2 out of 3 ruleÂ
Hidden Facts of Finance [18:06]
There is NEVER a bad time to be in the market!
Jerome Powell has done a great job. As we’ve said, week after week, he’s had his foot on the break, not trying to kill the economy just trying to slow it down. Not every company came out with spectacular earnings, even though 70% of the companies that have reported have shown positive on their earnings. But remember they’re ratcheting those earnings down a little bit since we’ve had all these negative headwinds to contend with.Â
We can’t declare victory just yet, we still have inflation and a FED that’s behind a curve. There is a chance that rates could go higher. That’s why you have to be an investor and you have to make moves in this market. You can’t be all or none because if you’re sitting on the sidelines right now and you got out of the market, even if you just got out in January, you’re wondering now what do I do as you’re still making nothing on your cash!
This week on the tipping point: Preposterous Products
In our collective 75 years in the financial services industry at our firm PCM, we analyzed close to like 50 portfolios a month. We know what everyone is doing out there and we find it shocking that in our industry a lot of the products that are sold are great for the firm that sold them and great for the commission to the broker that sold them but they’re not necessarily the best place for you