At the ‘Straight Talk’ Luncheon Series, program last week, Chris Pelley, CEO & Managing Director of Capital Investment Management (CIMCO) introduced an old friend and today’s keynote speaker, Mike Robertson, ‘an experienced investment advisor’. Chris says, “Mike wants to share his wisdom and advice gathered over the years – he enjoys complex problem solving and helping people see there are better ways of doing things.” Mike’s radio show has been very successful in Texas for the past few years – they’re now opening up in Denver, broadcasting weekdays from 7:00am to 8:00am on Denver radio, AM-1060 on your dial. Larry was really interested and surprised at some of the things Mike talked about that maybe coming up in this year and in the next few years… Robertson said, “Well, I’m really happy, like everyone, that we’ve done so well these last couple of years. You roll back the clock and talk to somebody about this time in 2009 – the market was just beginning to turn around. We’d gone through a devastating loss, the market was off by 57% and people were really depressed. Okay, it’s recovered now. One of the things that’s great about Americans is we wake up in the morning ready to conquer the world, but we also tend to forget history a little bit. So my concern now is that people are not preparing for the next time it’s going to happen. I can’t say when it’s going to happen, the pull back in the market – There will be a pull back. How deep will it be? Who knows. Obviously we’ve done very well, we’ve come back a very long way. We have some systemic problems in the U.S. – We have way too much debt. We’ve got interest rates at zero, you have people that are investing in investments like stocks that have never been there before. There are people that literally used to invest in CDs that could get 7 – 8 – 10% on their CDs… they’re actually going to invest in stocks now because that’s the only place they can get in.” The bond market? Your interest rates are practically zero – they peaked on September 30th of 1981 – interest rates have been dropping since that time. They’ve pretty well hit the floor now and there is really only one way to go now. They can stay where they are now, at zero. Or, they’re going to go down in price as interest rates rise – at some point interest rates will rise… that’s just the way it is, everything goes in cycles. The important thing to remember is to prepare for those cycles in advance. Mike’s favorite quote, by John F. Kennedy, ‘The best time to prepare the roof is when the sun is shining.’ …listen for more valuable information…
Chris Pelly, Capital Investment Management, Securities offered through First Allied Securities, Inc. A Registered Broker/Dealer (Member FINRA/SiPC) Advisory services offered through First Allied Advisory Services Inc., A Registered Investment Advisor. Mike Robertson, Robertson Wealth Management, Securities offered through First Allied Securities, Inc. A Registered Broker/Dealer (Member FINRA/SiPC) Advisory services offered through First Allied Advisory Services Inc., A Registered Investment Advisor
Listen to the full interview below:
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