These Big Investing Fallacies Are Costing You Thousands! (Uncut) 02-25-2025

everyone has inherent biases and it’s not necessarily that we need to overcome them but I think it’s important for us to at least understand them when we’re making investment decisions it’s better to be in the market than out of the market however it’s with the exception of major inflection points and we think that you can see those inflection points coming in today’s day and age we have to kind of redefine what we mean by safe what we mean by conservative what we mean by aggressive these are terms that

are all relative to a point in time welcome to wean I’m Andrew Brill often times we have a misconception of how our portfolio should work we’ll tackle some statements we hear repeatedly but might not be right on please welcome back to weth on a founder and managing director of Windrock wealth management who also happens to be one of wealth On’s partner Ras Chris welcome back to wealth on and glad you’re feeling better from your tooth surgery hey Andrew thanks for having me on uh looking forward to the discussion

so I you know I I have the first question and to peel back the curtain a little bit we we talked beforehand about some of the things we’re going to talk about but the stock market you know my dad may he rest in peace was not a big fan he said I always lose money in the stock market a lot of people think that the stock market investing is like gambling and I know that in today’s world with all the information we have not exactly right but could be a little form of that couldn’t it well a lot of people have Hang-Ups or misconceptions

or just biases you know that on various aspects of investing um that particular comment about you know kind of being a a gambling type atmosphere or you know obviously that it depends what type of gambling you mean if it’s if it’s where there’s set odds you know house eventually wins that’s absolutely true but investing is really not like that um and we all have these kind of misconceptions or uh perceptions just based on our the very fact that we’re humans right it’s how our brain processes uh reality and then on top of

that so that that kind of General mentality is what you call just behavioral Finance right that’s that’s things that are pretty unique uh or not unique but they’re they’re all humans kind of possess them there’s a lot of good psychological studies on this um not just on the fact that we have these biases but also on the fact that it impacts investing right some studies show that it could have a negative drag of say 2% on a portfolio so we all have the by virtue of being humans we all have them by virtue of our experiences

in life like like your dad’s talking about whether it’s you know you got burned on a particular type of stock or what have you you know everyone has inherent biases and it’s not necessarily that we need to overcome them but I think it’s important for us to at least understand them when we’re making investment decisions so Chris a lot of our viewers and I’m sure a lot of your clients are a little older in age maybe before retirement or of retirement age looking for a a steady stream of income and those people think or there’s the

misconception I should say that you should be in dividend stocks and bonds is that where they should be or is that just another fallacy I see a lot of people have that mentality that you know I’m on whether it’s a fixed income with social security or I have a finite amount of retirement funds they’re very concerned about me household expenses and I and I get it it makes sense but because of that a lot of people I’d say are too fixated on uh generating income like you’re talking about cash returns

whether it’s dividends or interest and the reality is that that’s not a good way to look at your portfolio because if you strip out taxes and that’s really then returns it doesn’t matter where the return comes it could be from interest could be from dividends it could be from capital gains you strip out taxes all things are being equal if you put taxes into the picture well in reality capital gains long-term capital gains are better than interest and better than dividends in a lot of ways so that’s one thing is that people

should realize when they’re older or maybe they have some income needs it doesn’t have to be from cash generated from the portfolio it should be from overall returns and if there’s a downturn where where’s where stocks and bonds go down in value maybe you take a little bit of the actual amount the portfolio out you know you cash out of something and grow it later on but I think too many people are fixated on the need um for you know particular income and what that happens is when you’re fixated on that it tends to drive what I

would call misallocations you’re not being properly allocated or Diversified it just creates a lot of issues with your portfolio let what about timing the market now you know everybody’s like oh you know I sold too early or I bought in too late you know there’s a whole thing of timeing the look I I do it myself is I I’ll sell a stock before it gets to its size like ah I could have made a lot more than what I made or I could have lost a lot more than I lost if I if I didn’t put my stop losses in place

what is the miscon conception about timing the market yeah I think most wealth manager managers were not one of them but they would all tell you you can’t time the market ever and you should always be fully invested right that’s that’s what I consider a very um unhealthy and potentially dangerous type of position that a lot of wealth managers would have and a lot of investors the reality is if you look at studies it is true it’s all things being equ it’s better to be in the market than out of the market however it’s with the

exception of major inflection points and we think that you can see those inflection points coming so whether it’s looking at uh year-over-year monetary growth whether it’s looking at the yield curve whether it’s looking at expanding credit spreads whether it’s just looking at the general situation of the economy um and perhaps the debt situation with the federal government there are major inflection points where you can avoid uh Market tops and if you do that it’s very beneficial and to put that some numbers

to it or I should say some time to it if you look back at 1929 and some people hate using that as example uh because it seems extreme but but it can’t not be it can’t not be uh ignored right it’s 1929 happened while inflation adjusted terms uh you could argue that the market didn’t recover until 1956 right so that’s a long that’s almost a lifetime that’s half a lifetime to be out of the you know waiting to recover since you were in the market 1929 and we see this that is an example we see it time and time again uh most

recently with the tech bubble in 2000 it took about six years for Nasdaq to recover we see it time and time again with 1960s 1970s nifty50 whenever you have these downturns it easily takes 12 to 24 months for the market to recover and that could be a very long time it’s a long time if you need the money uh it’s it’s a long time to get back to even let alone all the opportunity cost of missing out on gains so I generally agree that people shouldn’t be Market timers but I think they should be very

cognizant of Market tops and bottoms and position accordingly so is there a difference between timing the top of a stock versus timing the top of the market well geez I know I guess I probably haven’t thought about that recently but I I’d say there certainly is um for a couple reasons one is that a stock can only do as long as you’re diversify to an extent you know it’s only going to do so much damage so it’s not as important as a market Market timing event right so I’d say that’s the biggest uh situation also stocks may not

be impacted individually nearly as much um as the market in general to macroeconomic factors so for instance If the Fed comes out with some data on or government comes out with some data and we had a recession that started last quarter does that reallya impact an AI stock that much maybe it helps it because now firms are looking for Less labor intensive Solutions so um in general yes I’d say it applies much more to the market to be cognizant of than any individual stock and there I I guess when we’re talking about economic

factors there’s some stocks that do well with certain factors and some stocks with the same exact factors won’t do as well or will be negatively affected right that’s extremely well documented It’s actually an argument as to um it’s evidence for what I would call the off stream theory of the business cycle right so you always see the so-called cyclical stocks perform far worse and then perform far better in recovery and that’s that’s typical with just the theory behind what causes recessions but

yes you’ll see that for a whole bunch of different Industries a lot of them have different um are impacted differently from macroeconomic factors and you can go back and Chris and I actually did an episode on this factors you know W which uh were affected by the new Administration versus the old Administration and the economics that that the new Administration brings versus what the old administ ation bring so if you’re looking for those types of factors you can go back and watch one of our old episodes by the way Andrew we’re

going to have to do a uh a follow-up to that later this year say October November you know what was right what was wrong based on our predictions from that time happy to do that that would be a great idea so Mario if you can Mario’s our producer if Mario if you can write that down we need to have Chris on later this year to to you know go over our our our truths and negatives about the last episode but Chris get into taxes a little bit now I know that if you make money you have to pay and that’s the

bottom line but is there a way to structure portfolios or or do people believe that you structure portfolios for the best tax incentives well you always want to um optimize your tax efficiency right and there’s just say outside of investing you can do that with retirement plans if you own a business or you own real estate there’s some really fantastic options available to you the but the problem or the misconception exists that a lot of people are too focused on this right it’s kind of the tail wagging the dog they’re they’re too

obsessed with minimizing taxes and I’ll just give you an example of how that can be detrimental you could have a young professional upand cominging that maybe socks away every single dollar they have in their company 401K plan well the reality is 401K plans tend to be fairly Limited in your investing options so it’s very easy to do that and you think you’re doing well I I socked away you know $40,000 last year but if you’re stuck into a handful of mutual funds that really you wouldn’t be investing in but

for the fact that they’re your only options that can have very negative effects so um while taxes everyone should be cognizant of them and structure things accordingly whether it’s uh taking um losses at the end of the year to cover some gains what have you that’s all prudent that all makes sense way too many people are focused on Purely tax management the premise of you have if you make money you have to pay is taxes something people should worry about if they’re investing in stocks and I understand the

vehicles that that can be used to minimize your your tax burden but look if you go into it if shouldn’t the mindset be if you’re GNA make money you’re gonna have to pay whether it be long-term or short-term capital gains that’s something another way to minimize some of those taxes we see that a lot of people are very adverse to paying anything right so that the the negative impact is that could delay a sale like maybe you’re waiting maybe you all things been equal you should sell a stock in November but you’re going to

hold on to it because you want to hit the next calendar year for tax purposes right take take the gain then well the stock may be off 25% by then right so that’s just an example of putting taxes above just wise investment decisions that happens all the time so stocks and bonds like we’ve heard all about the bond market we’ve heard all about you know the the the the what what the FED is doing to try and you know pay pay the debt stocks bonds always complimentary is that a misconception I believe so I

mean that is what most people assume uh that’s why you know a classic 6040 or 7030 type portfolio the idea is that it’s a counter cyclical balance to stocks going down and we’ve seen that throughout history that has happened however it’s also not happened 2022 you had both stocks and bonds off let’s say 20% so in a way that was worse than the 08 crisis because if you had a healthy amount of bonds uh in 08 you actually did well in bonds and so that kind of protected your losses on the equity side

but if both are going down there’s no Escape for a typical mainstream type investor so um I think that that’s a fallacy people should be aware of because it doesn’t always hold true I think the misconception deres from the fact that typically with a equity downturn the FED goes and they instantly cut rates because their their unannounced objective really is to prop up the stock market it’s one of their mandates so to speak so um I think that uh yes they’re not always countercyclical people shouldn’t assume

that because it could hurt you severely so let’s say I have a financial advisor and I’m into ETFs mutual funds private Investments am I getting whacked double on fees well there’s fees in pretty much you know every fund out there there and but compared to you know 30 years ago they’re much more reasonable you’re they’re probably averaging I I haven’t looked at studies in a while but I’m guessing they’re less than 1% in general it’s active and passive combined um some people are concerned because we we’ve

actually had prospects tell us well why if I have to pay you then I have to double up on fees right then I’m also paying the mutual fund and that’s a very I’d say short-term kind of myopic way to look at it because the reality is is the Institutional Investor which you are typically with an raia you have much lower fees and they could be dramatically lower um for private Investments at least or otherwise we may have different minimums maybe you have access to something you didn’t have access to before um just look at filling

out suboc right subscription documents to a private investment I mean if you’re on your own that’s you know 300 Pages potentially you have to navigate whereas you have an advisor they can they can help you with that or if if not fill it out and just have you sign so um yes I think that’s probably another misconception out there that that there’s too that there’s too many layers of fees in reality when you have an advisor at most it’s probably more diminus than anything talk to me about those fees a lot of people like well I I

know I don’t I don’t pay an advisor because I don’t want to have to pay the fee but the the the 1% is is I guess that’s around the average 1% depending on the investment if you’re looking at private Investments maybe it’s it’s you know a different structure a lot of people are are not happy about paying that fee but if your investment advisor is going to get you a substantial return on your Investments compared to what you’re just going to do on your own with ETFs or mutual funds putting the private

Investments aside because as an individual you don’t have access to a lot of that like you would if you went to Windrock and say hey Chris help me out with my portfolio you would entertain some private Investments with them but how do you talk to people about that 1% well the 1% I was referring to before was really about underlying mutual funds or ETFs what have you I was saying they they average you know less than that but um as far as an advisory fee you know it’s highly dependent upon the client

situation as far as the overall amounts and the complexity of situation um the reality is I don’t I don’t think a lot of advisers do add value a lot of times and the reality is I do think a lot of people are capable of doing this on their own but it is a full-time job job it is a lot of research it is a lot of collaboration um so it’s kind of like being I I would compare it to yeah you could be a general contractor in your house right for having a built or what have you I’m yeah a lot of people can

it’s a nightmare and put your normal job on hold for two years right so that there is a lot of aspect a lot of reality to that how has I guess the internet and AI helped you because now it’s you know used to be called this the information Super Highway you used to have to get paper documents you used to wait for the prospectus or wait for the uh the the financials smug company to come in you’d pour over them you’d make notes and you’d have to wait for the next quarter’s financials to come in to

actually make a decision but now the the information is almost at your fingertips how much has that helped you well Ai and the internet have have helped us tremendously and put in perspective we started Windrock um I should know it’s off the top of my head let’s call it 2011 right so we’ve been around let’s say 13 14 years something like that maybe was 2012 and you know I’d say that’s first of all it’s one of the things that we’ve been big proponents of we’ve always sought techn technological efficiencies

whenever possible and an early example would be I’m guessing we’re probably one of the first firms first registered investment advisors raas out there to really maximize and utilize as much as we can uh DocuSign or other type electronic signatures because I remember when I first started the company you literally and this isn’t our requirement a lot of custodians require this you were probably mailing in a thick stack of documents FedEx send it to a client they’d sign it inevitably they’d miss a

signature and you have to send it back and you’d finally get it so that alone just whether it’s reporting having software that’s reporting on a on a timely basis meaning real time whether it’s you know authorizations and signatures whether now as far as AI which is obviously much much newer compared to these other Technologies yes trying to embrace that as much as possible I think a couple areas where that could really assist in um one would be just research right it’s much easier to have ai in trying to you know take

that funnel and vet down um Investments uh and it’s going to help in another other ways that clients probably don’t see or notice right away um but they’re powerful so for instance we do uh podcasts or webinars to our own clients well there’s a lot of graphs a lot of information con ve I can’t wait till the day is when I tell AI exactly the type of graph I need right and then it’s created instead of me going to the Federal Reserve of St Louis downloading data you know com cons you know manipulating the data in Excel and

creating a graph you know it’s all very cumbersome so any technology whether it’s AI or otherwise has had profound um impact on the industry and it’s to everyone’s benefit which is gonna help my my next question because you can do your own research look at charts and graphs and I know that you’ve got some charts and graphs to share with us but the FED they come out with their beige book and they come out with their okay these are these are you know everything you need to know is that really everything we need to know well that’s

true a lot of firms assume the FED is almost infallible right they just kind of repeat or parot everything the FED says it’s not just the FED there’s a whole slew of other government agencies my I I have a lot of problems with the FED obviously we’ve talked about them we’ve talked talked about their predictive or lack of predictive ability here on in the past but the CBO this Congressional budget office is maybe even worse because they try to go out you know 10 15 years and they’re inevitably horribly wrong so I’ll give

you an example in let’s say 200 20201 they basically looked at what they thought would be the budget deficit or Surplus for the federal government over the next 10 years and they literally came out and said they were predicting a budget surplus for the next year of I know it’s called $150 billion and by the end of the decade so 09 they were forecasting maybe was like a $450 billion Surplus per perom right and so that would translate into you know trillions of dollars knocked off the federal debt well the reality is we

never came close to that reality is despite what they say about Clinton we actually never even had a budget surplus if you do the accounting correctly so um yeah they’re horrible with with forecasts I think everyone should take those with a grain of salt and if your advisor is just parodying whatever they say I think that’s a big red flag so it’s it’s Creative Accounting Chris we we know all about that it’s you know you make the numbers look the way you want the make numbers to look that’s the bottom

line you know Clinton did do that yeah when it’s easy to balance your budget when you take things off budget and that’s exactly what they did when they had so-called Surplus and if anyone doesn’t believe that all you have to do is look at the change in debt levels right because you can’t have have a debt increasing if you’re running a surplus by definition so the reality is the last time we had a balanced budget some people say Johnson but I think that’s an error to it’s really Calvin kulage and

he did it every year he was in office and the last year we actually this is really scary and maybe the only year the US government hasn’t had debt I think it was like 18 uh 35 or so under Jackson so um yeah the it’s it’s when you take things off budget makes everything easier look Chris we talk a lot about crypto and I know you guys have been into crypto for well over 10 years private investing and there is a misconception that those things should not be in a portfolio agree or disagree or is that a

misconception I think it’s a misconception too I mean there are obviously extreme cases if you have a 98y old retiree you’re not going to put him in on private Equity Fund for the next eight years now that and that sounds absurd it’s actually probably not as absurd as sounds because the reality is the estate would settle and it would pay out eventually to heirs and descendants you know it’s not really a problem um but I think too many people are fixated on this whole concept of you have now it is true you want to be safer

when you’re older because you need the money and you need it more sooner that all things being equal it’s true but I think in general people should remember that no investment is inherently necessarily safe or unsafe it’s really time and place and what’s going on it you investors now I have somewhat young kids in their 20s one of them in their late teens I’ve told them to max out their Roth IRA but also be aggressive you can be aggressive with your Investments because look we talked earlier about a 28-year gap

between 1928 1956 and then a six-year Gap so if things go a little South they will come back should younger investors invest aggressively or is there a medium that they should uh you know a medium investment or you know not I guess it it depends on returns but younger investors should they invest aggressively I mean all things being equal you could make an argument that yes compared to a the 98-year old retiree um they should be positioned with greater risk return profile yeah higher higher levels of both however the

way that translates in the practice is that people interpret that as I got to be in all tech stocks or I have to all do all this and your kids I’m sure you tell me if I’m wrong but if they lost 50 60 70% of their money and they started at you know age 18 didn’t get back to their age 25 26 that’s going to be an awkward Thanksgiving for you like Dad remember when you told us to invest you know invest aggressively and put it all in tech stocks that can happen so all things being equal there’s there’s some

truth to it however that’s also minimized at what I call major inflection points at the market so if the Market’s an all-time high valuation wise if we’re due for a recession if debt levels are out of control and there’s a solvency Cris on crisis on Horizon I don’t know if I’d want my kids investing so-called aggressively they may Maybe not maybe that you want to do that turn that on a couple years from now so bonds we we talked a little bit about bonds versus stock are bonds considered a conservative in investment compared to

stocks well they are with the kind of the general um mainstream type wealth management industry absolutely all things being equal and and and that’s because you know they’re they’re higher up on the capital structure right if theoretically things went wrong with the company they’re the ones to be paid back first um but I think in today’s day and age we have to kind of redefine what we mean by safe what we mean by conservative what we mean by aggressive these are terms that are all relative to a point in time and I think you know

it’s to bring that up right now is actually uh timely because we’re in arguably one of the worst Bond markets us has ever had you could argue it’s one of the top three worst Bond markets and sometimes these I’m sorry these bare markets and bonds and sometimes they last a long time so before I talked about equities how long it takes to recover bonds can be even worse we’ve seen this in if you look at the 1970s when you had inflation running high for over a decade where you had the price level literally double over a 10-year

period Bonds were a horrible place to be in you lost about two-thirds of your money depending on you measure it it was it was a complete debacle for anyone invested in bonds we’re seeing that right now we’ve been in a bare Market in bonds since the summer of 2020 longer um duration or or longer maturity type bonds have really been pounded if you look at like the 30 years since that time the 30-year Bond treasury so yes um all things being equal theoretically bonds are safer but but again that’s

time and place and you know right now I wouldn’t necessarily consider them safer especially depending on who’s lending or who you’re lending the money to because that’s ultimately what a bond is right you’re lending the money to somebody can they pay you back so I I I want to ask um passive investing versus active investing now is one better than the other and is that something that uh is people say oh passive is better or active is better another misconception I think largely so I mean all things being equal there’s a lot of

um desirable attributes of passive investing so for instance it’s lower fees obviously right um there’s a lot of negatives too if you’re in an index like when that index goes down you know they’re forced to sell your index your your ETF or mutual fund is forced to sell there’s a lot of detriment too um I think it’s more important a lot of my answers are it depends and this is a this is the same situation it’s more important what you’re investing in if you’re investing in the S&P 500 I’d say active management is probably all things

being equal less important than would be if you’re investing in a highly nuanced or um or or or an industry where there’s you have to have a lot of skills or experience or knowledge about so for instance years ago I took a class at the Colorado School of mindes it doesn’t mean I’m able to sit down and assess whether or an exploratory Mining Company their or body is going to be viable and how they’re going to bring it the market like I I know enough to know what I don’t know but if you were going to

invest in let’s say gold mining stocks Junior Gold Mining stocks I’d say that scenario you probably do want an active manager because they know it instead of just you know broadly investing in a whole bunch of companies a lot of which will fail so active management I think has its place as do passive investing so it’s hard to make a gener generality about it where passing out passive is always better there are a bunch of biases Chris that we can talk about and one of them is is the loss aversion and

it’s like okay if a stop goes stock goes down you don’t a lot of people are like well I I I can’t lose I can’t lose whereas if it goes up if they make money okay they’re happy maybe they don’t maybe it goes up further not not as H as happy but you know that loss aversion where if it goes down cut your losses invest in something that’ll bring your money back where whereas a lot of people are like no no I can’t sell now because I’m in the red and then it it just continues to sink yeah there’s there’s a

couple I think biases right there you just mentioned one is definitely loss aversion a lot of people are for a given magnitude of gain or loss they have a much stronger emotional reaction to the loss that’s absolutely true a lot of people have that um there’s a lot of studies uh on that and I think that that can be very unhealthy especially if you’re talking about any individual security or investment because in that hand you’re not looking at the portfolio as a whole that should be your main purpose the entire time how is

portfolio as a whole doing that’s that’s pretty much modern uh portfolio Theory right you you shouldn’t be because it used to be from a fiduciary aspect you could invest in anything that was going to lose money a long time ago right and the reality is you should be looking at the portfolio as a whole and how the portfolio does so a lot of people the worst thing is if they have loss AV verion as relates to a particular security um it’s one thing to have it for the portfolio but they should absolutely not have it for any given

security that’s absolutely true the the other bias that was kind of embedded uh in that mentality you just mentioned what was what I call like an anchoring bias so it’s it’s a fixation on either a particular price to sell or buy it’s a fixation on particular gain or loss I’ve seen this a lot we had a prospect one time that he had an ungodly amount of money in one stock it was a biotech company and it was literally maybe 90% it was Millions of dollars it was probably like 90% of his net worth and

he wouldn’t sell his mentality was as I recall he wouldn’t sell until it doubled in price and well it could also fall 50% you know that’s just that’s just a horrible but he was fixating on it he wouldn’t get off of that he’s like well once it doubles I’ll sell it and then I’ll kind of diversify so that’s another bias that’s out there that people should be aware of human nature Chris how how I I know it’s hard to fight human nature but you know you you look at a stock and say okay you know what I think this is

going to be you know a good stock to invest in and then we go and look for confirmation of that we don’t read everything with an open mind we look for a confirmation bias where okay yeah this confirms what I’m thinking whereas you read another article I’m not sure that’s that’s totally right how detrimental is this it can be fairly detrimental it’s um and it’s it’s primarily a problem when you’re kind of monitoring your portfolio or your individual Investments I’ll just give you an example for me

personally I’m a big proponent we’ve been on the show talking about um natural gas producers I think you know given electricity demands from various sources given the disparity in prices given the administration’s um announced goals and Personnel they put in place I think there’s a pretty nice future in that that area however if I’m researching or just kind of monitoring it I’m much more likely to click on an article about Trump’s latest you know his his recent um Secretary of Energy pick then I would be maybe if it was an

analysis report analyst report on natural gas companies saying how natural gas is terrible it’s going the way the dodo and we’ll never use it again we’re using um you know what solar and wind you know going forward so confirmation bias exists I think it’s a lot of it is just you have to be aware you have to force yourself to read some adverse opinions and news out there and what about I know it’s not a biases but fomo we’ve seen it a lot with mag s fear of missing out that one has to be a big one oh

absolutely you know some people call it the the cocktail party effect or you know whether you’re had a the golf the country club or you had a bar I mean everyone’s been in that situation you don’t want to hear about some guy first of all avoid all those guys that are talking about you know their last stock pick you probably go to a McDonald’s Sunday morning there’s there’s 10 old guys talking about their their stock picks um so yeah no one likes to be in that position where they’re talking about Nvidia or what have you and you

just never bought it right so that’s it’s very easy um to just want to be with the crowd the kind of this herd mentality however um knowing about that bias being cognizant of that could be uh very beneficial so for instance 2022 you remember the Super Bowl there were it seemed like every commercial was about cryptocurrencies right and you had all these Stars you had Matt Damon you had you know Tom Brady I forget all the guys that were involved in in cryptocurrency pitches that was a clear sign that maybe

maybe this has gone too far maybe maybe cryptocurrencies need a breather because everyone in their mom is investing it right now right so um being cognizant of that bias could be a very powerful and beneficial um knowledge that you could take action on but bottom line is that anyone at that cocktail party they were only telling you about their big win they are not telling you about their big loss which inevitably probably happened also oh yeah yeah absolutely true well Chris thanks so much for going

through this with me and I know that there’s a lot of misconceptions that we probably didn’t even touch on with regard to the market and the information that’s out there but I appreciate it and if you’re looking for more information hit up Chris at Windrock wealth.com they’re also on Twitter uh Twitter at I believe it’s at Windrock wealth right that’s right and thanks again Chris I really appreciate we’ll talk again soon and we’ll put it on the books for October November to talk about our predictions that we made with the the

new Administration looking forward to it thanks Andrew thanks so much for watching our discussion here on wealth on if you would like help with your wealth efforts please head over to wealth on.com free for a free portfolio review before you go please like And subscribe to the channel don’t forget to hit the notifications Bell so you hear about all the new videos we post and follow weon on social media all the links are below in the description if you like this content that looking for more ways to achieve long-term wealth