ALL EYES ARE ON THE MARKET,
WATCHING, WAITING, AND A LOT OF
ANALYZING.
WE HAVE PRESERVATION GROUP BACK
WITH US.
AND IT'S GOOD TO HAVE YOU ON
THE SHOW.
THANKS FOR THE HAVING ME.
AND EVERYBODY IS LOOKING AT
THE MARKET.
AND A LOT OF DIFFERENT STUDIES
AND RESEARCH REPORTS COMING OUT
ON WHAT MAY OR MAY NOT HAPPEN.
BUT CERTAINLY SOMETHING THAT
EVERYBODY IS TALKING ABOUT.
IT CERTAINLY IS.
AND IT'S MOSTLY A SELLER'S
MARKET RIGHT NOW.
AND A COUPLE OF THINGS.
THIS IS DISJOINTED AND I'M
GOING TO TALK FAST BECAUSE WE
HAVE A LOT OF MATERIAL.
BUT IT IS A SELLER'S MARKET.
THE DOW JUST CROSSED 20,800 FOR
THE FIRST TIME.
THE S&P 500 AND THE NASDAQ ARE
BOTH UP.
AND THE NASDAQ HAS NOT BEEN
ABOVE 5000 FOR 15 YEARS.
BUT IN THE WORDS OF WARREN
BUFFET.
BE FEARFUL WHEN OTHERS ARE
GREEDY, AND GREEDY WHEN OTHERS
ARE FEARFUL.
THAT'S GOOD SAGE ADVICE.
AND ON WEDNESDAY FOR EXAMPLE,
THE DOW ROSE FOR THE NINTH
STRAIGHT SESSION.
THAT'S LONGEST SESSION SINCE
1987.
AND THE SIGNIFICANCE OF THAT IS
THAT IN 1987 -- AND I'LL READ
FROM THE WALL STREET JOURNAL --
AND THIS IS ON AUGUST 26, 1987,
IN A MARKET LIKE THIS EVERY
STORY IS A POSITIVE ONE.
ANY NEWS IS GOOD NEWS.
IT'S TAKEN FOR GRANTED NOW THAT
THE MARKET IS GOING TO GO UP.
EIGHT WEEKS LATER ON OCTOBER
20, STOCKS PLUNGED 508 POINTS.
THE PERCENTAGE DECLINE WAS
GREATER THAN IN 1929.
AND THIS IS WHAT THAT DAY
LOOKED LIKE.
THIS POLYP RIGHT HERE IS --
BLIP RIGHT HERE IS NOON OF THAT
DAY.
AND YOU SAID WE'RE IN
UNCHARTED TERRITORY AT THIS
POINT.
WITH THE ELECTION SO NEW TO
US.
WE DON'T KNOW.
I READ SUBSTANTIAL.
I DON'T KNOW.
I CAN'T TELL YOU WHAT'S GOING
TO HAPPEN FIVE-MINUTES FROM
NOW.
BUT THIS CAME OFF FIRST THING
THIS MORNING.
AND THE TITLE OF IT IS FROM THE
AMERICAN COLLEGE WHICH ISSUES
DESIGNATIONS AND WHAT NOT TO
FINANCIAL A ADVISERS.
AND THE TITLE OF IT IS AMERICA
-- LITERACY QUIZ.
THIS IS GOING TO BLOW YOU AWAY.
THE RESULTS SHOW A GENERAL LACK
OF INCOME LITERACY.
THE AVERAGE PERCENTAGE FOR THE
PORTION OF THE SURVEY WAS 42%.
ONLY 19% RECEIVED A PASSING
GRADE, 60 OR HIGHER.
NO ONE SCORED AN A.
NO ONE.
90 OR HIGHER.
ONLY 1 PERCENT SCORED A B 80 OR
HIGHER.
MORE THAN 20% OF THE
PARTICIPATES SCORED LOWER THAN
30% CORRECT.
AND THIS IS ON RETIREMENT.
THIS IS ON RETIREMENT.
SO DOES THAT MEAN WE'RE
BASICALLY GIVING OUR MONEY TO
SOMEONE ELSE.
WHAT'S INTERESTING WITH YOUR
OFFICE IS THAT YOU'RE HANDING
US BOOKS AND STUDIES SO THAT WE
CAN KEEP UP AND HAVE SOME
KNOWLEDGE.
A LOT OF PEOPLE ARE PUSHING
THEIR MONEY AND WAITING FOR
SOMETHING ELSE TO HAPPEN.
I THINK IT'S A MINDSET
PARTIALLY THAT PEOPLE DO NOT
WANT TO ADMIT THAT -- AS THEY
ARE AGING AND RETIREMENT IS
GETTING CLOSER, OUR PARENTS ARE
TERMED THE GREATEST GENERATION,
AND THE GREATEST SAVERS EVER.
THE BABY BOOMERS ARE THE WORST
EVER.
AND THERE ARE A LOT OF THEM.
10,000 RETIRING A DAY.
WOW.
AND OF COURSE LOOKING DOWN
THE LINE AT THE NEXT GENERATION
AND WHAT THAT'S GOING TO BRING.
IT'S REALLY SCARY.
WE HAVE A LOT OF INFORMATION
HERE.
IF YOU'D LIKE TO SIT DOWN AND
LEARN MORE, IT'S PRESERVATION
FINANCIAL GROUP IN JOHNSON
CITY.
THE OFFICERS ARE ON SUNSET
DRIVE.
