CIO Scott Martin Interviewed on Fox News 1.7.22

Kingsview CIO Scott Martin discusses how emotions can keep investors from buying low and selling high, and why they should commit to a long-term plan. He also talks about “gaming” the Federal Reserve and what we might see happen in the market in the coming months.

Program: Making Money with Charles Payne
Date: 1/7/2022
Station: Fox Business News
Time: 2:00PM

CHARLES PAYNE: All right, folks, are some data suggesting retail investors starting to lose some steam here over the last couple of months. Options trading activity starting to move up to a big time record. But at the same token, some of the investing in regular equities have not now. You know, one of the things that’s propelled this market has been a new investor revolution. I want to see that continue. I want to bring in Rob, Rob Luna and Scott Martin. First and foremost, guys, a happy new year to both of you. And Rob, I’ll start with you this the market activity here. I mean, still, gobs of money have piled into this market. Record amounts of money into ETFs. A lot of new accounts are still being opened, but I’m a little concerned that, you know, when people turn the page on a calendar, retail investors may look at this and say it was fun for a while, but I’m ready to do something else.

ROB LUNA: Yeah, Charles, I know you’re a huge champion of the retail investor. I mean, that’s evident by the show that you’re putting out there today. And look, a lot of the new retail investors came into this market just over the last year and a half two years. And like you and I both know, this has been a little bit of an all up market. It’s been a little bit easy. And now they’re starting to see some of this volatility. And I think they’re getting a little bit nervous. But I think what I’m here to tell them is this is a normal part of investing. You got some tax loss selling that happened last quarter. A lot of what’s going on at the beginning of this year is just people being a little bit nervous. But look, some of these big names that we’ve been talking about are down twenty five, 30 percent. And for those investors out there that miss some of this are looking to get in the market, this is the type of discount that you’re looking to enter.

PAYNE: Scott, you know, buy low, sell high is the first axiom of the Wall Street. But another part that people do have to grapple with is occasionally you will take a loss and occasionally you will be down in a stock that maybe you just have to ride it out.

SCOTT MARTIN: Yes, Charles, and emotions typically, I mean, I’ve been through them as well as an investor keep you from buying low and selling high. You actually buy high and sell low because you freak out and you forget for the first reasons why you bought the stock and how long you want to hold it for and why you’re holding it for so long. So I think to Rob’s point, you need to have a game plan going into every position. And simply, that game plan could be to hold a stock for the next five or 10 percent, or it could be to hold it for the next five or 10 years. But once you commit to that game plan, once you commit to that stock, as we do for investors, we stay on that game plan. Investing is a rollercoaster. Life is is a waterfall of emotion. That’s a coast modern song. That’s a line from a postmodern song that I like. The point is, you have to go through the ups and downs of investing to get the rewards.

PAYNE: So with that in mind, it feels like to your point, you can have a strategy. And some people say, I like growth, I like value. I like this. I like that. It feels like right now, the only thing moving this market is how we game the Federal Reserve, and I’ll go back to you and Scott. I mean, how much of the Fed? I think this is going to be short term. I think whatever we think the Fed is going to do collectively, we’ll digest it in the markets. We’ll trade the way they normally trade. But how much of this could be overkill right now with respect to the Fed?

MARTIN: Totally agree. Overblown. I mean, this is a typical buy the rumor. Sell the news when the news actually happens, Charles. The fact is actually realized with the Fed here. Say maybe it. That’s in March, June, whenever the market’s probably not going to do much. So I agree with you. I think there is some gamesmanship to be had here in the near term. I think that’s chasing things. Yes, guys. I talked about with Cavuto a few weeks ago. Sorry, my man. We talked about this back in December about energy and materials. I think those are ways to play this inflation trade into the first rate hike. Certainly, financials are responding well, but don’t be too committed to those things because those will wear off, as you, as you said earlier as well, and then go back to the typical trade of, say, tech and see more communications and information technology.

PAYNE: We saw that a couple of times this week, you know, even yesterday it was the Nasdaq that found a way to climb off the canvas and rally pretty strong a close flat after Bullard’s comments. But it feels like there’s some buyers out there. And how do you do this, Rob? Did you start trying to be nimble and catch these waves? Or do you just just solidify your real long term positions here?

LUNA: No, I think, Charles, look, you know, I talked to a couple of weeks ago about getting into some of these names that were going to respond better, like Capital One to rising interest rates. We’re looking at some BDCs like areas right now that are really set to capitalize on that. But what did I do with my own money, I think is the most important thing this morning. I bought some Airbnb this morning and I bought CrowdStrike because those are they’re going to be the winners long term. They’re down twenty five and 30 percent. And like Scott said, when you have a plan, no matter how bad it feels, this is what you do. You buy high quality names when everyone else is throwing them out. Buy low, sell high is how you make money. If you’re going into the financials after they rally 10 12 percent, that’s probably not the thing you want to be doing, even though that feels like the best thing right now.

PAYNE: Yeah, there’s no doubt about it. I mean, the KBW ISS, I think, is up 10 percent this week alone. I got a minute to go. Then we now we’re talking about the Fed running off the balance sheet, not just tapering anymore, it’s tapering rate hikes and balance sheet. Is there anything else we should be worried about? Rob is there. What’s the next negative that can derail this market?

LUNA: Yeah, tax hikes, right? I mean, let’s let’s let’s remember that’s going to be on the table this year, we’re not hearing a lot about it early on. But you know, you start raising corporate taxes, you start raising personal income taxes. That’s definitely going to put some pressure on the market that I don’t think is really been priced in.

PAYNE: Yeah, I got to leave it there, guys. I really appreciate both. That’s how I wanted to end the week on a tough week for the market. Two guys that have done it well and done it really well for a long time. See you both very soon.

5:27

CIO Scott Martin Interviewed on Fox News 12.31.21

Kingsview CIO Scott Martin discusses the resiliency of the market, and a positive outlook for 2022. He also discusses the cruise lines and airlines, plus the news for Peleton.

Program: Making Money with Charles Payne
Date: 12/31/2021
Station: Fox Business News
Time: 2:00PM

ASHLEY WEBSTER: Well, markets are slightly lower and have been that way since the opening bell on this very last trading day of the year. But that said, all three major indexes are expected to finish 20 21 with some serious gains and on the precipice of new record highs. So did the Santa Claus rally deliver to expectations? Let’s bring in our market panel today from Kingsview Wealth Management Scott Martin. Great to see you, Scott. And the chief market strategist at Cross Mark Global Investments, Victoria Fernandez, Victoria. Good afternoon to you. Let me begin with Scott, though, Scott. How are we feeling about the markets as we wrap up Twenty twenty one.

SCOTT MARTIN: Not a bad gift from Santa Claus? Actually, I mean, if you go back a couple of weeks ago, three weeks ago, everybody was panicked, coming in to the end of the year. I mean, this is going to be the big unwind, right? As you mentioned the lead in there of this big rally we’ve had and it didn’t happen. And that’s frankly, because that’s typically what happens in market psychology actually is when people start calling for the experts, quote unquote start calling for the great roll over. It doesn’t happen and the market goes back in their face. So I think we should be relatively full of gratitude with what happened here because the market has shown itself to be very resilient and being able now to push through a lot of these same old problems that we’ve laid out with, say, the COVID variant with promises of tax hikes and things from the Federal Reserve as well that were scary for the markets, ones seemed to not be scaring us anymore. There’s a lot to be positive about going into twenty twenty two, in my opinion.

WEBSTER: All right, Victoria, know we’ve had a lot of analysts say, look, you can expect higher interest rates next year. You can expect lower stocks and you can certainly count on volatility. Would you agree?

VICTORIA FERNANEZ: Yeah, I think actually all three of those are probably accurate. I mean, you know, Santa Claus came in with a bang and we’ve been a little lackluster the last couple of days. But the Santa Claus rally should continue into the first couple of trading days of next year. Then we start to refocus and look at some of these items you’re talking about. We do think rates will go up on the longer end. We think there’ll be some consolidation in the equity markets as the Federal Reserve starts to lay out their plan of when they’re going to raise interest rates. And that’s going to cause some volatility. So I think we can anticipate that for twenty twenty two.

WEBSTER: All right, Victoria, I’m going to follow up with you, talk about the cruise lines, the CDC simply says, don’t go crazy, crazy, you know, cruising these days. So where do these and other reopening stocks go from here? I know that’s difficult to predict, but what do you think?

FERNANDEZ: Yeah, I’ll have to look into my crystal ball and see what it tells me, but I think one of the things we’ve always talked to our clients about is don’t make a huge play on pure reopening trades, right? Look at the longer term perspective in these names and see if it’s a business model you like. Let’s see if there’s growth potential. Look at the balance sheets of these companies. It’s what we always talk about for cruise lines. It’s not a place where we want to be right now and we’re not in airlines right now either. I think you can look at the reopening trade more towards the consumer side in regards to consumer discretionary and some consumer staples. I would stay away a little bit more from those highly volatile names of cruise lines.

WEBSTER: I’m going very good, Scott, to you. Yeah. Scott Peloton sliding on a downgrade. Well, one of the great pandemic stocks being able to turn it around or is it more bad news for Peloton?

MARTIN: I hope so because I own some and I own some low. So that’s OK. You know, gosh, though, what an interesting tale actually for Peloton these days. I mean, you know, talk about when you think you hit rock bottom when the girls from Sex and the City take shots at you and then you get downgraded after that. So I think the bad news, I mean, look, the bad news is pretty much everything has happened to Peloton that can possibly happen, right? I mean, maybe the the girls of the View are going to attack them or something. The point is there’s there’s bad news and a lot of stocks right now to Victoria’s point. Same with the cruise lines. At some point the airlines, too. You have to pick these up because it can’t get much worse. It feels horrible. Don’t get me wrong, but I think Peloton is a buy here now.

WEBSTER: All right. Victoria, very good. Scott Victoria Treasury yields dipping today. They’ve been a bit of a yo yo. The 10 year. Do you still like financials?

FERNANDEZ: We do like financials, it’s one of our favorite sectors going into twenty twenty two. We actually think the the longer into the curve has been probably mispriced a little bit when you look at where inflation has been, when you look at where credit spreads are. And so we think that longer into the curve will start to move higher. But it’s not the only reason we like financials. Their balance sheets have been extremely strong, especially compared to where they’ve been historically. We think there’s going to be some long growth. And look, the financials have been hit. They’ve taken a hit the last month or so. So it’s a good place to go in, especially for the big money center banks and maybe start a position if you don’t have one already.

WEBSTER: Very good, we’ll have to leave it right there, folks, but Victoria and Scott Speller stuff, thank you so much for joining us and a happy new year to you both.

5:12

CIO Scott Martin Interviewed on Fox News 12.17.21

Kingsview CIO Scott Martin discusses capitulation in some names, when investors should add to their position and the reason for owning gold

Program:  Making Money with Charles Payne
Date:  12/17/2021
Station:  Fox Business News
Time:  2:00PM

CHARLES PAYNE: Want to bring it to the best market gurus, Victoria Fernandez and Scott Martin. You know, the old market adage, just buy the first, the first hike, sell the penultimate rate hike. And now we’re hearing, at least from Bank of America, that it’s all wrong this time that the is there. The chief investment strategist, in fact, is looking for full blown capitulation. And of course, you know, Victoria, I think capitulation is different, at least from when I started in this business. It’s not a one day, even the two day event in my mind, it’s been happening for weeks, and I think we’re closer to the point where we should be buying. That’s selling your thoughts.

VICTORIA FERNANDEZ: Yeah, I would agree with you, Charles, that it’s not a one day event, and I think the last couple of weeks and all the volatility we’ve seen is proof of that. So look, if you’re waiting on the sidelines waiting for that one big moment, trying to time the market on what that one capitulation moment is going to be, you know how we feel about that. We think that’s a fool’s errand and you need to be building your portfolio over time. But look, here’s the key. You look at the S&P five hundred and it’s down a couple percentage points from its all time high, but that’s really being driven by a handful of names. Look at your shopping list. The average stock is down 13 to 14 percent from its all time high. So get in there on some of these pullbacks. Get the names that you want and start building your portfolio, and I think you’re going to have a lot of opportunities to do that with the volatility going into twenty twenty two as we still do have uncertainty around growth, inflation and central banks.

PAYNE: So, Scott, I mean, are you waiting for that ultimate capitulation moment? I guess in this day and age, it would be a 20 points on the Dow, maybe a three percent move on on the S&P. Or are we living it right now?

SCOTT MARTIN: Yeah, I mean, it’s around us. Charles and I think to Victoria’s Point, it may not be this this big two, three or four or five day kind of break. We’re already seeing that in several names. And so the capitulation is here in some names. I mean, look at Teladoc, look at Peloton, look at Zoom. I’ll look at Adobe just the other day. I mean, my goodness, if you’re an Adobe investor like we are, we took that pullback of the 10 percent after earnings and guidance to just say, Hey, we want to add some more here. So you’re seeing the opportunities arise in these individual names. So just don’t wait for the big down day, I think over on the markets, but watch these initial names as victoriously. You don’t get the shopping list out. And when they pull back to say support, you got to get in there and add your position.

PAYNE: You know, so funny. I’m I really know. Still, a lot of people still waiting for a capitulation from March 2009 that one final leg down. All right, so let’s talk about the last seventy two hours, 48, 72 hours. We’ve had different narratives every single day, right? Initially, when we had the FOMC meeting, techs rocked and then they got rocked. Cyclicals yesterday led the way, and now today’s cyclicals are getting slammed. The fence names show life earlier in the session. And guess what, Victoria? Here comes tech again. I mean, first of all, you know, a lot of people are wondering, though, about the shelter in the storm. But more importantly, have we figured out what the what the Fed is going to do and what it means for the market?

FERNANDEZ: No, I don’t think we figure it out completely, and you see that with the discontinuity between the equity market and between the fixed income market, and so really you need to have that balanced portfolio right now instead of trying to time that rotation perfectly. You know, we’ve been trimming our growth, your names when they’re on updates, trimming some of those down and focusing more on cyclicals and more on value names. We’ve talked about consumer facing names. We liked Target, Lululemon, Dick’s Sporting Goods, but we’re really focusing on the financials right now. Look over the last month, including today and see the pullback in the financials, especially in the bank names Bank of America, JPMorgan. You’ve got names here that have good balance sheets. They’re cheap to the market. You look and see, possibly dividend raises next year. And we do think the longer under the curve is going to move a little bit higher to catch up with inflation expectations. I think the long into the curve is pulling back now because of Omicron, so we would focus on some of those names.

PAYNE: All right. And by the way, we’ve got a great dividend guy coming in 30 seconds, but I’m give Scott the last word. First two things, Scott. I’m loving the fact that on the Nasdaq, at least it’s the individual investor bringing back those so-called meme stocks. And now these other tech names, some you just talked about, but also Gold Gold’s acting pretty intriguing and living up to the old to It’s all respectable, you know, being an alternative to inflation. Is it time to start to add some gold here?

MARTIN: We believe so. We’ve been back in gold, Charles, given the fact that gold was not acting well for most of the year and I think the shine was off gold then and certainly as the inflation numbers have started to really come to pass, I think gold is finally getting its its luster back, let’s say. But the reason you own gold is not just because it goes up on days like today, but because it’s doing something different than other things in your portfolio. It’s different than equities, it’s different than fixed income and hopefully different than some of your other alternatives. Maybe, maybe crypto. So gold for us is a position in the portfolio is something to hold here as we try to navigate this volatility.

PAYNE: And as my man, William Devane said, you can hold it in your hand and look at it. Victoria, Scott – Have a great weekend.

5:09

CIO Scott Martin Interviewed on Fox News 12.10.21

Kingsview CIO Scott Martin discusses different reasons people buy – and sell – stocks. He also discusses the “fast and furious” nature of market phases, and how investors must realize that their portfolios need different things at different times.

Program: Making Money with Charles Payne
Date: 12/10/2021
Station: Fox Business News
Time: 2:00PM

CHARLES PAYNE: CEOs insiders, meanwhile, are cashing in their stocks at historic rates from Elon Musk to Google co-founders. Sixty three point five billion dollars have been sold through November. That’s up 50 percent from last year. Joining me now, Rob Luna and Scott Martin. And you know, Scott, I don’t really get too frustrated when insiders sell unless they sell a large percentage of their stock. But for many, it’s a it’s a problem. I mean, would you be buying? Tesla’s made a 50 point reversal off the low today, Alan, would you be a buyer if these insiders are selling?

SCOTT MARTIN: Sometimes it’s a good thing to do that, I mean, and here’s the funny thing, Charles, to your point about people getting so emotional and so wrapped up in what insiders are doing sometimes are selling for different reasons than you’re buying. I mean, they’re selling for four tax loss or tax gain type capture, as well as the fact that maybe if their personal situations that they’re taking advantage of or my goodness, as investors, sometimes they’re selling because the stock is way up and they want to just take some chips off the table. So what I like to look at in that particular notion of Tesla is I like to buy Tesla on big down days, big, big washout days. We had one recently, Charles earlier this week when the New York Times came out with that report about the self-driving technology. So yes, I like Tesla long term here. I think it’s a great part of our future. But I want to wait for those big down days because those are short lived when Tesla pulls back hard. That’s when you jump into buying news in the next couple of days, it’s up.

PAYNE: Of course, rob the reason one of the main reasons we’re seeing all the selling this year and the new laws and the tax hikes are coming and a lot of these folks are are cashing in stock just so they’re getting paid some of these tax obligations. So when you look at it on a company by company basis, when does it become a big deal?

ROBERT LUNA: Yeah. And I completely agree with Scott, actually, surprisingly, Charles, you know, from the standpoint of, you know, these executives look, they file something called a 10b5 one. Investors can look at that and you could actually see that these sales, a lot of times are predetermined. I work with a lot of corporate level executives. This is something we do just as risk management when you think about it, Charles. That’s where the majority of their income is coming from. So they have to go ahead and sell those stocks. But to your point, it is a case by case basis. Don’t sell the stock or buy a stock just based off of what insider is doing. And to Scott’s point, if you like these stocks when they get beat up for any reason, if the excuse does, your is the CEO is selling, go ahead and buy them then, but don’t let this determine your investment strategy.

PAYNE: And a quick note there is apparently the AMC CEO sold 90 percent of his stock. I don’t know. I’m not cool with that. The stock got hit is still on a lot of pressure. I’m really surprised he did that. I don’t know. I think he may have taken advantage of investors on that one. Let me ask you guys about today’s session because some folks are confused. Rob, I’ll start with you. Does a day like today when we could have easily been off a whole lot more? But we’re not. Does that signal anything to you?

LUNA: Yeah, I mean, I’m really surprised at your previous guest is a technical analyst, there was kind of talking about this. The market’s extremely resilient. We have so many opportunities and reasons to go down here. And now we’re seeing all the predictions of a twenty to twenty five percent pullback next year. What I’ve learned a long time ago in this market, Charles, is you want to go against consensus and the obvious set up for next year is probably what what you do not want to be doing. I think the market is strong as long as the interest rates stay low. You’ve got a 10 year cylinder, 1.5 inflation, as we saw this morning as an issue. Cash is trash. You want to be invested in assets. Use these opportunities as a pullback. This market’s going higher, in my opinion.

PAYNE: You know, Rob, I mean, let me let me start with you on this one, Scott. It’s it is interesting to me, though. Yesterday, the best performing stocks were the most boring stocks, right? The S&P 500 low volatility names. It’s just I mean, they’re right is the Pepsis of the world and the McDonald’s in the world. I mean, is there a time when you say, OK, I want to park a little bit more money than normal and boring, but steady?

MARTIN: Yes. And we’ve been doing that for our clients, Charles, but we don’t stay there. I mean, these market phases are fast and furious. And then some days, like you mentioned you, the staples, are there. Other days, energy is there. Other days utilities have been great and then other days tech. My goodness, which has been a great sector for us the last several years is lit up like a Christmas tree that may or may not have been set on fire. And so you have to realize that there are times you need to have different things in your portfolio. Doing different things at different times and having those experiences over a long term period is how you’re going to win in this market.

PAYNE: I got that one my man the Christmas tree set on fire. You know, we, you know, we’re in low shoe sales kind of analogies over here these days. That’s all I’m saying. I’ve got one for you, a spoiler alert for all your sex and the City fans. That’s Robin Scott. There was a big death on this reboot. A character was actually using a Peloton bike ahead of their demise. Now the stock is down today, but it really probably isn’t. There was a massive downgrade on it. And Scott, I think the notion here is a lot of people were going for these stay at home stocks, you know, and we were told even after the pandemic is over, the hybrid work thing is going to be there forever. Forty percent of us will work from home and all of them, one by one by one, have been taken to the woodshed. Is there any hope for Peloton or any of these other names?

MARTIN: There is I mean, I think some of these stocks, like you mentioned, Peloton, whether it’s these, these these documentaries or say these, this these comedies or whatever you want to call that that show taking shots at Peloton, I think these stocks get overdone. Charles, I mean, you look at know, Rob mentioned the technical analysis aspect to think, look at the RSI, look at the relative strength on Peloton, look at the stochastic, look at the MACD histogram. This is all really cool stuff and technical analysis like they’re way overdone. So you have the ability to kind of ride the wave here. I think you got to get into belts on here.

PAYNE: All right. Hey, here’s the good news. There will be a vacancy for a main character if they make another movie, Rob. I checked you out and some of those honeymoon pictures. My man, you are perfect for the role and you could be the new Mr. Big any day. Both you guys, Rob Scott, have a great weekend.

MARTIN: Yeah, maybe bigger.

PAYNE: All right, folks, I love hearing from you on Twitter

5:58

CIO Scott Martin Interviewed on Fox News 11.12.21

Kingsview CIO Scott Martin discusses finding the things the market is leaving behind, and adding to a portfolio during a pullback.

Program: Making Money with Charles Payne
Date: 11/12/2021
Station: Fox Business News
Time: 2:00PM

CHARLES PAYNE: Joining me now. Market watchers Scott Martin and Ryan Detrick and Scott, you know, the theme for the day really is for twenty twenty one of these new opportunities, I’m talking investing versus maybe the traditional approach. You know, I’ve always seen you as a sort of an older school guy, but I know recently and bought you sold Amazon and you bought Netflix. And some people were saying, Golly, why would you do that? It’s been absolutely huge. Is that an example? Maybe now some of these newer names starting to emerge, not the fang names per se, but maybe a new set of names starting to emerge that people should be aware of.

SCOTT MARTIN: Yes, trading my age, I guess. Charles, you know, with respect to making some moves that are just frankly out of the box a little bit because nobody would have thought to sell Amazon in the spring. But if you look at that, like you said versus Netflix and video was part of that trade too. That was a great move. As well as that we made. And that’s just, I think, Charles, you know, kind of letting go of the traditional, like you said. I mean, some of the fang names have obviously been part of our portfolios for a long time, and it’s time to roll some of those out. And I think find some opportunities in some of the names of either people aren’t talking about or frankly, folks are hating on as it’s pulling down the stock price in some of these names that are coming down to levels where they’re very attractive, and that’s when you have to take off things that are at their all time highs.

CHARLES PAYNE: Ryan, of course, you know, the stock market, the history of the market better than anyone. This combination that we’re dealing with right now. Have you seen a time? OK, you’ve got inflation that’s rocketing higher at the same time, you’ve got slumping sentiment and then you’ve got this runaway rally. I mean, that seems like an odd combination to a lot of people looking at this from the outside.

RYAN DETRICK: Does Charles before I go there? That was a great answer by Scott. Turns out Scott and I are both from Springfield, Ohio. We went to the same elementary school, so he ever had that on your show. But oh, Springfield, Ohio, on the map today. Now. But anyway, Charles, you’re right. I mean, honestly, no, we’re we never really quite seen a scenario where inflation’s high confidence is low and stocks are up. But I love what Jim just pointed out when when your confidence is low, that tends to be a time you want to be an investor. But what have we seen before that we know the playbook gets when earnings are this strong earnings of the S&P. We’re supposed to be one sixty five at the start of this year. We’re looking at probably 208. That’s like a 25 percent increase in the expected earnings. How much is the S&P up this year? About 25 percent stocks are actually cheaper today than the were at the start of the year. So as long as we have that tailwind, which we think is still the case, we’d still think your stocks are going to keep beating bonds and his bull market still has some legs left to it. No, I

PAYNE: love that you bring that up. You know, there’s always that debate over cheap and you know and value and you know, people aren’t factoring that in, and that’s an important point. But you just said it. It feels like the fix is in, at least for the rest of the year. Is there anything that could change that, Ryan?

DETRICK: Yeah, I mean, the fix, everyone. Everyone’s bullish, right? Everyone feels pretty good. I mean that right there, everyone’s on one side of the boat. Maybe you could get something there, but I’ll tell you what, Charles, you’re the middle. First part of November is usually strong. The last part of November is really strong. November is the best month of the year. You know the troublesome area, it’s right in the middle. So we’re in that area, but also at the same time, small caps, industrials, materials, you know what they’ve done the last eight months? Like nothing. They went sideways from April until just recently went up a Todd’s being passed around and it’s the lifeblood of a bull market. Different areas are taking leadership. Small caps and close to us still look really good here.

PAYNE: Scott, as a professional, you know, buying and selling the market. How do you grapple when you’re buying at a market that’s already at record levels? This is a common question that I get, and when people see me in the street and I like to get, you know, different ideas, how do you do it? How do you say, OK, we’re at all time highs? It feels like it’s Topsy, but I still see value.

MARTIN: Yeah, you got to find the grenades out there, Charles, I mean, you got to find things that basically the market is leaving behind. I mean, a couple of names that come to mind recently, Disney. How about that name recently? Very much left behind in this rally, Peloton and PayPal or two other names that we’ve actually started to add to in this pullback? Tesla even pulled back some when Elon Musk sold that big share that he had there the other day that he put on Twitter. So the reality is that the market is going to go up. We do agree with that, but the names within the market that are going to be left behind are ones that need to pick up because that’s where the value lies. I don’t like to chase big, high flying names that everybody’s talking about, like Ryan mentioned these days, because those are names get, get, get, get really crowded. And when they start to pull back the weak hands get out. But if you start picking off names that have already sold off have already got the sellers exhausted. Those are names you have to go after in a raging bull market like we have today.

PAYNE: Yeah, full disclosure, I’m I’m counting a table on PayPal among some of those names that you just mentioned. All right, so Ryan, great here this year, monster a year, almost in the books. Take us to twenty twenty two. What’s what’s your crystal ball saying?

DETRICK: Yeah, we still think it’s a bull market, but let’s take a look. You know, a couple of years ago, getting 30 percent last year gained 16 percent on the S&P this year. Twenty five percent. We think it’s going to be quite that good. But Charles, I’ll leave you with this. The last 11 times, the S&P 500 gained at least 20 percent for the year, so probably going to be in that situation this year. The next year was higher 10 out of 11 times, up 14 percent on average. So, hey, maybe we’re all getting 30 percent. But I’ll tell you what, Charles, things still look good and history would say the bull market still here.

PAYNE: Sprint, it was Springfield, huh? I just think the other thing you two guys is the most famous person from Springfield.

DETRICK: John Legend

MARTIN: Pitcher for the Cincinnati Reds.

PAYNE: All right. John Legend Dave Birbhum, Yeah, they’re up there. All right. They’re not on the same level as you two guys, but they’re getting there. I’ll tell you a shout out to Springfield. Shout out to two of the best Scott and Ryan. Have a great weekend, guys. Great talking to you.

5:24

CIO Scott Martin Interviewed on Fox News 11.4.21

Kingsview CIO Scott Martin discusses Fed support, inflation, and whether the market is toppy. He also talks about temporary weakness in pockets of stock and what that means for long-term investors.

Program: Making Money with Charles Payne
Date: 11/4/2021
Station: Fox Business News
Time: 2:00PM

CHARLES PAYNE: I want to bring it two market watchers with us, Uma Pattarkine. I’m close. I got an eighty five percent. The next one I’m on. And by the way, it took me like seven times to get Scott Martin right, too. So don’t feel bad. Let’s pick up on this conversation. It does feel like the market the stock market is entering this post COVID 19 world. And if that’s the case, how does that inform how we invest, how our portfolios humor should look?

UMA PATTARKINE: Great to be back, Charles, and yes, you know, as we talk to our institutional clients around the world, that’s what we’re really focused on today, right? Not what happened in the last two years, but where we see things going in the next five to 10 years. And so we’re really focused on some of these big thematics that we see really moving the way that demand patterns are coming through. And so one of those things that we’re focused on, for example, is e-commerce, right? We’ve all gotten used to expecting that shipping order in front of our doors in two hours, right? So that’s why Amazon has kind of trained us to do. And so that means that retailers are really trying to get their supply chains built out so they can meet those demands. And that means a ton of demand coming through for industrial real estate. So those are the types of thematics that we’re really looking to in the future.

PAYNE: Scott.

SCOTT MARTIN: Yeah, I agree. I think our time horizon, though, just given all the uncertainty out there, at least as far as how we’re managing money is a little shorter just because we can be a little more certain, maybe about the short term, I think. But I’ll tell you, I mean, look at look at Fed Chairman Powell’s testimony yesterday, Charles. I mean, they’ve had an extraordinary amount of support to this market. That’s been one reason I think amongst many why the market’s been able to hang in here so well. And now they’re just starting to step back a little bit from, say, all that liquidity purposes that they’ve provided the market. So just be a tapering. I mean, when it was pushed to talk for him to talk about raising rates next year, talking about inflation, he was still using the word transitory, in fact debating how the word transitory should almost be used in the dictionary. The reality is, the Fed still wants to be here. This the Fed wants to be ever present. They know the market needs them. And I don’t think the Fed’s going to raise rates for the foreseeable future as long as inflation, which is still going up, by the way, but at a decreasing rate. And that’s important to note as the Fed continues on their mandate.

PAYNE: So, you know, yesterday, of course, we covered the FOMC meeting. What was really interesting. I wanted the audience to take a look at this. The heatmap, the S&P heatmap. You can see a lot of red on that screen, right as the FOMC decision was being made. But then at the close, it was almost all green. So explain this to me. Stocks are going up. Bond yields are going down. You know, that doesn’t speak to an aggressive fed that doesn’t speak to a lot of rate hikes next year. So, so what’s happening here?

PATTARKINE: Exactly what you sent, Charles, right, so the crux of that message from the Fed was like Scott was mentioning, there’s still going to be here, accommodative policies here to stay. Right. And so what that means is that your kind of economy is on good footing, but we still have a lot of support. And those rates really aren’t looking to be increased in this near future. And we’re hearing that same type of commentary from central banks around the world, right? So we’re seeing those rate expectations get a little bit reset. And so what that means for investors really is two things, right? So first is that we need to find yield and income somewhere else, not fixed income. And then the second is something that we spoke about. Charles and Scott touched on it and that inflation is here, right? And so investors really need to be focusing on hedging against inflation and making sure that they’re finding some yield somewhere else. And we’re seeing real estate as a great place to do that.

PAYNE: Lots of signs. And you don’t have to be a real market expert, right? It even be a casual observer that maybe the market’s getting a little toppy. You know, some experts look at things like our relative strength that right there is flashing a signal, maybe an impending pullback. Of course, there’s a fear and greed index now at eighty eight. Obviously, some would say that’s too optimistic. Scott, do you buy this notion that the market, first of all, that it’s toppy and if it is stopping, you know, do you make changes in your portfolio? Do you say so what? Sometimes it’s got to go down.

SCOTT MARTIN: It does, and you take that as a long term investor to add to positions if you have the free cash. It’s toppy, Charles and broad based markets, but there’s areas, pockets of stocks, let’s say, that are falling back on earnings reports or other news that you have to pick up because they’re weak temporarily. And just adding to some of the indicators you mentioned. I mean, look at stochastic, look at Max D histogram. I mean, that said, if I look at VIX two, there’s not a lot of fear out there. And these are times that worry us a little bit if you’re trying to market time, because I believe that these are levels that will get some pullback in, and that’s when you got to come in with some of that free cash.

PAYNE: All right. Irma Peterkin and Scott Martin, thank you both very much.

4:46

CIO Scott Martin Interviewed on Fox News 10.25.21

Kingsview CIO Scott Martin discusses holding volatile stocks, Tesla as a long-term investment, and what might surprise investors and analysts.

Program: Making Money with Charles Payne
Date: 10/25/2021
Station: Fox Business News
Time: 2:00PM

CHARLES PAYNE: All right, stop me if you heard this before, but Tesla is a stock of the day. I mean, it’s a top performer in the S&P 500, bringing a consumer discretionary to the top of the pack. Morgan Stanley up their target to twelve hundred. This after their hurts, they’ll want to bring in Scott Martin and Michael Lee to discuss Mike, you buying here in this on Tesla?

MICHAEL LEE: Well, look, it depends what your thoughts are on Tesla. Or if you’re a trader, I think you buy here and play the momentum. But you got to have an exit price mapped out because Tesla for years has had no correlation to any reasonable valuation. In my mind, it’s the original meme stock. And today there was a gamma squeeze combined with some fantastic news for them and the stock just exploded. If you’re a longer term investor. I’ll wait for some bad news to come out, which kind of invariably happens with kind of the National Transportation Board investigations of the company, the Elon’s propensity to over promise and under deliver. So I think if you want to be a long term investor, you wait to get in. I think if you were a trader, you could probably make some fast money on the back of this momentum

PAYNE: And so interesting with all of that. And then that’s sort of been the backdrop for the last half dozen years. It’s a trillion dollar stock, and Elon Musk is by far now the richest person on the planet. You know, Scott, when reminds me of is, I think about all the people who stopped out of this stock over the years. And I think there stocks that you have, regardless of how volatile they are, no matter what you plan to hold, you’re going to hold and you’re not going to let volatility get you out of this stock because I’m pretty sure I’ve been stopped at a Tesla in the past.

SCOTT MARTIN: Yeah, for sure, and I think like like Mike said, you know, it’s stuff that kind of has become meme ish. I guess if that’s a word, you know, stocks that have gotten this fanfare and then just been pushed down because of of things surrounding the company, I mean, Facebook, certainly one of them over the years, things like AMD to, you know, where have they just been slammed because of supply issues and other things a couple of years ago with respect to product development or product completion? So I think the intersting thing on Tesla for me, Charles, just quickly is that for me, it’s actually not really a trade right here. I think it is a good long term investment. I think the stock’s pretty much overdone considerably here to the upside, at least short term. But gosh, this is still to your point, a story of Tesla that’s maybe, you know, rags to riches or Ali to the highway with respect to how the stock has done. And I think it’s a great company owned for the future, but for many, many years in the future as well.

PAYNE: I think if you think of it that way, then you won’t get shaken out. You won’t get spooked out on those periodic air pockets that it does it. Let’s talk about Facebook, guys, they report after the close. It’s just simple, Mike. Buy, sell or hold? I mean, where are you on this stock right now?

LEE: Yeah, I buy this into into the close, and then if if for whatever reason, it sells off more tomorrow, I buy more. I think a lot of these names tend to go into going to earnings calls with enormous expectations. I don’t think that’s the case for Facebook. I think there’s a cloud over it. I think they’re going to blow through it. But on the odd chance, something on the call spooks investors, I’d be adding more.

PAYNE: Scott?

MARTIN: Yeah, I think Mike’s right expectations have come down a bit, which is good. You’re going to get a great opportunity to pick up some of these names in tech land this week, and I do believe that the one thing that could surprise investors and analysts if they do start talking about maybe ameliorating some of those security issues are some of the content issues that have been plaguing them for the last few months. So that was what I’d be kind of concerned about. If you’re not in the stock here and looking to buy it after earnings, because you may get some of that news.

PAYNE: In your mind, what would it be better to do? Buy it now before the close or wait until after the numbers come out and then look at it in the morning?

MARTIN: I’d buy it before the close

PAYNE: And real quick got, let’s say, a minute ago, is there something that might that people should be in this week before they report?

LEE: Besides Facebook, I don’t think so, a lot of these big fake names have a tendency to sell off fast and hard after their earnings, basically something on the call spooks investors. And that’s the time you want to add them because by the next call, they’ve almost completely recovered.

PAYNE: And to that point, you could have bought Netflix on temporary weakness last week and Tesla on a little bit of weakness for a brief moment. Last week, Scott Michael, thank you both very, very much.

4:04

CIO Scott Martin Interviewed on Fox News 10.15.21

Kingsview CIO Scott Martin discusses the psychology and emotion involved in investing, and trusting the system. He also talks about Amazon and Netflix, and expectations for Q4.

Program: Making Money with Charles Payne
Date: 10/15/2021
Station: Fox Business News
Time: 2:00PM

CHARLES PAYNE: So we know historically October, the most volatile month for the market, but also the month that sees that September weakness morph into a launching pad for a year end rally. And it looks like that may be happening this week. I want to bring in the market bros Scott, Martin, Rob Luna and before we even talk about that, both of you guys are very passionate about getting people into the stock market. In fact, Rob, I was reading your website today and something struck me quote. My mission is to mentor anyone who is willing to build and put in the hard work to secure their own business, invest in their future, for their future. You know, I think that’s the biggest hurdle, right? People now you kind of rely on social media. You get these tips. We call them water cooler tips. So it’s easy to find stock ideas, but really, you got to put a little bit more elbow grease in there. Isn’t that true?

ROB LUNA: Yeah, I mean, that’s exactly it, Charles. And especially when you look at our community being a Cuban-American yourself, African-American, the numbers are horrible. Charles Less than 10 percent of Latinos are invested in the market. 13 percent of African-Americans in my academy minorities represent over 75 percent. I’m really proud of that. We need to start educating these people. There’s a lot of wealth that’s being built and created in this market. But people need to get in, but they need to spend the time to do it the right way. It’s not on chat boards, it’s not reading news clips. It’s really understanding how to analyze, manage risk and invest in good long term quality companies.

CHARLES PAYNE: And of course, Scott, we’ve had this record amount of money pour into this market. So these new investors are getting in there. And this is one of the biggest tests the last few weeks for them. What is the key thing? Maybe they should take away from it that they should understand?

SCOTT MARTIN: I like the term hard work Charles and Rob has been great at that mantra. His whole career and the hard work for me working with clients too is the emotional aspect. I mean, you talk about the new investors. Charles, Rob talks about some of the minorities that need to trust the system, which you know, it’s hard number one. But number two, think about your emotions of when you invest. You know, people too many times compare their selves themselves to other investors. They compare themselves to that, you know, half brother, half sister, that half cousin, whoever it is that has that great idea, that investment in oil or cannabis that went crazy. You’ve got to understand your own psychology when you’re going into investing to know what you expect out of it, what you can take both on the upside and downside and how you’re going to deal with it.

PAYNE: I’ve got to ask you guys about earnings season. Let’s go to next week because we talked a lot about this week Squid Games, the hottest thing in the world. Will that make Netflix a buy before the earnings? Scott, would you be in this stock?

MARTIN: We already own it, man, and I got chastised and raked over the coals in May when we took it out of our managed stock portfolios in favour of Amazon. So we took out Amazon, which was taboo to ever sell and bought Netflix. Let’s look at the chart. That was actually a pretty good move. You know what’s funny, too? I don’t like Squid Games. I know I’m getting a ton of hate mail about it. I don’t think it’s that good. But I think a lot of their other content is geared. Charles. Sub numbers should look pretty good this past quarter. And so I like Netflix here going forward, especially into Q4.

PAYNE: Rob, are you? Are you? Would you be a buyer or owner? And if not, would it be like right now, Rob, what’s a fresh idea since we spoke last?

LUNA: Yeah, I mean, I think Scott’s a better stock picker than he is media critic. I think that’s a great game, a great show. I’ve been binge watching it for the last week. You know, I think you’ll look the fangs reporting next week. All of these companies are good long term holds, not trading around them. What I wanted to bring, though I knew it was coming up against some heat with the market bros I wanted to bring a fresh idea. That idea today is simple. Tigr, tigr, it’s up. Fintech. Look, there’s some controversy surrounding this. It’s a Chinese based company. A lot of online brokerage fintech, right? Take a look at this, though a big move into the US stocks down 30 percent in the last five years.

PAYNE: Take a look. I’ve got an admission. I’m in it with my subscribers and we are getting shellacked, so I’m so happy someone else is getting in there. And by the way, another admission I want you, Scott. I watched half an episode of Squid Games. Let’s say people may love it. I’m going to give it another shot over the weekend. And I do like Netflix. Guys have a great weekend.

3:54

CIO Scott Martin Interviewed on Fox News 10.8.21

Kingsview CIO Scott Martin discusses gold’s recent performance, plus the rise of cryptocurrency and its potential volatility.

Program: Making Money with Charles Payne
Date: 10/8/2021
Station: Fox Business News
Time: 2:00PM

CHARLES PAYNE: So all the record books say that it was the month of October, twenty twenty one when the Crown was officially passed to bitcoin and crypto from gold and silver. Now, according to J.P. Morgan, there right now three main drivers for bitcoin’s remarkable October to remember. So I want to get the read from Scott Martin and Meltem Demirors and Scott. Let me go to you, my man, because apparently institutions now see bitcoin as a better inflation hedge than gold. You’ve championed gold on this show for a long time. Is it time to throw in the towel?

SCOTT MARTIN: I have Charles, and I’m holding back tears doing this, but I’m good at doing that, so I won’t cry. I promised myself I would cry. We sold the gold today. I can’t believe it, and that was based on several factors, not because of what some of these institutions are doing, because those are not the guys to follow. In my opinion, as an independent adviser and one that manages ETFs and such. But the reality is this Charles, because of some recent data and certainly the performance of our friend Jld and some of the other ETFs that are out there in the gold space, it just hasn’t been there. As far as the non correlation in some of the upside capture. So while I don’t think that answer is as is the bitcoins or the theorems or the Solana’s, the reality is gold is just not handling itself very well as that alternative asset space in our portfolios right now. So I just think gold is not the thing to hold right now. I don’t think some of the bitcoin stuff is right, either, if that’s what you’re looking to replace it with.

PAYNE: OK, so Milton, Meltem, in the meantime, institutional investors are rushing in like gangbusters venture capitalists. I read where Mark Andresen shopped. The funding has gone through the roof from hundreds of millions to billions. So at least are the credibility questions over right now. Do you feel like as someone who’s championed this space, you took a lot of slings and arrows from these famous international types that you can finally say, OK, don’t question that credibility anymore?

MELTEM DEMIRORIS: Yeah, look, Scott, I’ll take the W all day. I’m sorry, but I’ll take the W. I think we are definitely at the point one percent of global aum across all asset classes is now in crypto. Of that, 50 percent is bitcoin and 50 percent is everything else. Crypto is here. 20 percent of Americans own bitcoin. This is no longer a fringe asset class. This is a diverse asset category that has publicly listed equities, including my company CoinShares. We have ETFs with exposure to equity. We’ve ETPs with exposure to digital assets themselves. We have the coin, so we have venture funds, we have SPACs. It is a growing and really robust category and I’m really excited about the opportunity ahead. We see a lot of opportunity for growth. And as we like to say in the industry, Q4 is the start of the madness. We’re calling it up tober, by the way, Charles. So this is not October, it’s uOtober.

SCOTT MARTIN: Just be ready for the volatility.

DEMIRORS: Hey, that’s the price of opportunity- price of opportunities, the volatility,

MARTIN: But different from alternatives of yesteryear, in my opinion, but no problem.

PAYNE: All right, so, so real quick, then I’m going to come back to you, Scott, but I do want to squeeze in with Meltem. The NFT is worthy. They stand there also having a pretty strong month there up Tobar as well.

DEMIRORS: Yes. I mean, yeah, I’ll talk about NFT’s, so yeah. Look, I think, you know, people love buying luxury goods. LVMH with a $400 billion company and they produce artificial scarcity, right? People buy handbags, people buy expensive cars, watches and have to use our digital flex right. For people like me, I spend all of my time on my laptop. I don’t need Chanel bags. I need digital flex. And so I think NFT is in many ways are filling this interesting new niche as we enter the so-called metaverse as we live increasingly online. We need different ways to sort of flex online. Right now, NFTs are very much focused on art and sort of displaying our unique clothes. We’re also calling them IS or profile photo NFTs, but are also seeing games using NFTs, luxury brands using NFTs. And I think it’s still a really early space, but want again where there’s tremendous growth for multiple different types of opportunities, whether it’s new brands, legacy brands, lot of space.

PAYNE: Let me only go. Got 30 seconds. I’m going to give Scott the last word, Scott. She mentioned the metaverse. You know, flossing on the metaverse. It sounds like you and me are going to be stuck outside the metaverse fishing. I mean, you’re going to jump at any of that stuff. Maybe some of these equity is riot, MHRA, Coinbase. Anyways, you’re going to get exposure to this space.

MARTIN: Yeah, we have some clients that have some of the riot, some of the DLC blockchain, and I think those are those are good if that’s the exposure you want. I also agree with Meltem, though you need exposure to the coins through Coinbase. You can actually trade the exact coins. And one quick point on the NFT, you can’t bring it in in stores and steal them, Gucci and all those. At least they’re unpreventable that way.

PAYNE: We got to leave it there. I’m handing it over to Lauren Simonetti Lauren to see.

4:57

CIO Scott Martin Interviewed on Fox Business News 9.17.21

Kingsview CIO Scott Martin discusses the amount of options in the market, using pullbacks to fortify positions, and the upward sloping yield curve in financials.

Program: Making Money with Charles Payne
Date: 9/17/2021
Station: Fox Business News
Time: 2:00AM

CHARLES PAYNE: Meanwhile, there’s an icon of dichotomy here between plunging investor confidence in amount of cash that’s gushing into the stock market. Individual bearishness that’s plunging. And of course, down at twenty 22 percent bullishness, rather the fear gauge moving closer toward extreme fear. So how can we come to grips when we’re personally growing fearful, but you still want to stay in this market? Believe me, I know it’s not easy. So let’s bring in our market experts Allan Boomer, Scott Martin and Mike Lee. You know, one of the reasons I’ve been bullish beyond the fundamentals is all the cash on the sidelines. Global investors took sixty two billion out of money markets. They put fifty one billion into stocks, forty six billion of that into US equities. So Mike, is this a reason you think for people to remain bullish?

MICHAEL LEE: Absolutely, Charles, I think any debate should be brought. I think the amount of cash on the sidelines is staggering. You have four and a half trillion dollars in money markets. You have over 700 billion dollars of buybacks amounts. And just keep in mind, OK, when that Fear Greed Index is up in the 80s and 90s, that’s what you want to sell when it gets down here. This is where you want to buy, and now it’s easier for me to say it than to do it. But that that historically proves the way it is when everyone’s calling for a correction. That’s where you want to be a buyer.

PAYNE: You know, Alan, you were a VP at Goldman Sachs and then you started your own firm in 2013 wasn’t a really great time, right? Most people hated Wall Street back then. So what’s the secret for you when you get investors to remain calm invested, particularly when they become fearful or distrustful?

ALLAN BOMMER: I hate to say it, Charles, but you got to tell them to turn the TV off, sometimes really focus on. Focus on the long term, you know, why are you investing in the first place? Is it because you want to know every minute, maximize your wealth or is it to really maximize your wealth over time? What are the things that you’re looking to achieve? Like, do you want to retire one day or leave money for your kids? Like days like today, weeks like these last few weeks aren’t really going to matter in the long run. You’ve got to keep folks focused on the big picture, right?

PAYNE: Scott, you know the amount of options. I want to get back to this old triple quadruple witching thing, the amount of options in this market. It’s got a lot of people concerned right there saying it’s really starting to skew underlying share prices. Also, it’s making people less respectful of risk. What are your thoughts about that?

SCOTT MARTIN: It’s wild, Charles. It’s definitely kicking up volume. I think it’s an opportunity like the guys have already said. I mean, any kind of drawdowns that we see because of options expiration or people say, repurposing or recalibrating their portfolios. If you’re getting pullbacks in names that you like, say, like airlines or restaurants, anything tied to the consumer, you’ve got to use those pullbacks or there’s triple which are not to buy in and fortify your positions.

PAYNE: So then let’s talk about resolve, market resolve again, for the most part, has been with us since 2009 on full display march of last year. This year, the S&P 500 has been holding that 50 day moving average like a champ, not just holding bouncing off it like a trampoline. So, so, Mike, you know, you’ve expressed a tremendous amount of bullishness. What happens if the 50 day fails and we start to accelerate to the downside?

LEE: Yeah, look, I don’t I don’t see any sort of acceleration from that, and again, I would be I would be a buyer on an I’d start start selling fixed income or finding other assets in other places to put more money to work. There’s so much cash on the sidelines, combined with the fact that while the economy, while the rate of change may be slowing, we’re an expanding economy. This is a bull market these last four years, not months. Markets don’t sell off because of valuation. There needs to be a catalyst for there to be a meaningful correction. And I’d say the more selling we get, the less likely the Fed is to be active, which in my mind is the only threat to the market at this point.

PAYNE: I do believe the Fed is hostage to the stock market, I think they’ve created a monster they will not be able to control other than keeping it going. Hey, let’s switch gears. We’ve been talking about stocks, but don’t look now. But that 10 year yield is really starting to build some momentum to the upside is right on the cusp of a big resistance point. Now, Scott, I know you like the financials. You talked about them. Obviously, they should do well as these interest rates are going up. Is this one of the areas to be in if we start to really break out?

MARTIN: I think so. Charles and we own JP Morgan and Citi. We have for about a year now, we like the upward sloping yield curve, as you pointed out. Also, the fundamentals on those two stocks are very good. So if you’re looking to expand your portfolio, looking at financials, I think those are the two top names. But obviously you can’t probably go wrong too much with Wells Fargo, given some of the pressure it’s had recently. But financials going forward here are going to take advantage of that upward sloping yield curve as the banks benefit from net interest margin expansion.

PAYNE: And, of course, if Elizabeth Warren gets her way, the by Wells Fargo, you end up with two companies for the price of one. Hey, Allan, at one point, were these higher yields change the way you’re investing right now?

BOOMER: Great question. I mean, I also like the banks, I like the regional banks as well as kind of the megacap banks, you know, you talk about JPMorgan. They. Made a lot of really powerful portfolio of businesses inside of JPMorgan like Citizens Financial, but you know, rates are going higher. I don’t think they’re going meaningfully higher. Like I predict in the next year, you’ll probably see a 10 year around 175. Like, that’s not enough to really, you know, turn us away from anything, you know, rates. I think rates will go higher. It’ll be a grind higher.

PAYNE: That’s like predicting the Knicks. That’s the playoffs, so I’m with you on that. OK. Let’s move on to gold because I got to bring this up. We talked about inflows. Well, guess what? Thirty seven million dollars winning the gold. It doesn’t sound like a lot, but that’s the most in five weeks. And getting it back to you for a long time, you’ve been telling us you got to be in gold. But is it time to throw in the towel in the sense that this is your best hedge against inflation?

MARTIN: No, not yet, Charles. I mean, we like gold and we have for many years because it’s not stock and it’s not fixed income. You mentioned the inflows on gold. It’s actually had a pretty rough week given those inflows. But the reality is this as I think interest rate starts backing up. I think as we see like maybe a little bit of a taper, actually an inflation that actually might help gold here. So we’re actually adding to our portfolios to build out that position a little bit higher.

PAYNE: Right, let’s talk about what you’re buying, Mike, because you got us pumped up, my man. We’re in a secular bull market. Nothing’s going to stop us. May hit a speed bump here and there. How do we take advantage of it? What’s new in your portfolio?

LEE: Hey, Charles, I’m on the other side of this. Interest rates, I don’t believe. I think interest rates are going to back up here. Maybe we get a little bit higher, but then they eventually rally like we’re in a low growth, low inflation world. So I just added some utilities on that trade just just as a low rate trade, as a kind of conservative anchor to my equity portfolio. And I also added a big position in REITS, I think the right sector, it’s done really well, but I think it’s going to be one of the last legs of this recovery. And I think the low lower for longer, low interest rates really help them lever up and rebuild themselves.

PAYNE: All right. You know, utilities, I mean, you’re a brave man. There’s one utility I like next there, and I tell everyone when Biden was elected by that stock, it did terrific under President Obama. All of these things are trying to do means cash in their pockets. But it’s a tough one, although defensive halves look pretty good. Over the last few weeks. All right. Real quick. I think I’ve gotten enough time, 30 seconds. And the last time you were on, you mentioned the FedEx. I don’t think we’ll get a chance to talk before they report. I think so. So stay the course there.

BOOMER: I love FedEx. You know, it’s linked to e-commerce, all the stuff that you ordered, it comes to your house. A lot of it comes from FedEx. UPS is another great name, but FedEx trades at a 24 percent discount on a valuation basis to two ups. So whether their earnings are good or not, and I do think they’ll be good, I think FedEx is a great position on.

PAYNE: All right, gentlemen, let’s leave it there. Alan, Scott and Mike, have a fantastic weekend.

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