This episode delves into the complexities of market behavior, providing listeners with strategies on how to manage their investments effectively. Bill Gundersen delivers timely insights into cryptocurrencies, market forecasts, and sector performances while sharing his expert perspective on forward P-E ratios and market predictions. Tune in for a blend of financial education and practical investment advice tailored for both seasoned investors and beginners.
He’s been seen on CNBC, the Fox News Channel, and the Fox Business Channel. His articles can be found on MarketWatch, Seeking Alpha, TheStreet.com, and many other places. He’s the author of the weekly Best Stocks Now newsletter and the inventor of the Best Stocks Now app. He’s president of Gundersen Capital Management. Here is professional money manager Bill Gundersen.
SPEAKER 08 :
And welcome to the Wednesday, the midweek, December 3rd edition of the Best Stocks Now show with professional money manager Bill Gunderson, president of Gunderson Capital Management, a nationwide fee-based only registered. investment advisory firm and financial planning firm. And I’m here with Barry Kite, our chartered financial, certified financial planner, and our CFA. We have a little downdraft in the market today, but it’s getting better. We have a mixed market now, and the mixed part has improved quite a bit. The Dow is up 123%. to $47,598 after a weaker-than-expected jobs-related report. The NASDAQ is down 54 right now. That’s 23 basis points. The NASDAQ’s at 23,357. The S&P is up one point right now to 68.29. And the small cap Russell 2000 index is up one half of 1%. Bitcoin is having a good day today. Another rebound for the crypto, the beleaguered crypto here recently, the volatile crypto. Bitcoin is up 2,807 to 92,821. I’m seeing the little rallies in Bitcoin being sold, at least for now. I think you still have to wash out a lot of those folks. And gold is having a good day. Gold is up half a percent to $4,241. So welcome to today’s Best Stocks Now show with the professional money manager, Bill Gunderson, president of Gunderson Capital Management. I’m here with Barry Kite. Our chartered financial analyst. I got a lot of lessons today, Barry, to, you know, I mean, every day different news items come up. But within today’s news items, there seems to be a lot of lessons here to learn from. Absolutely. The market did eke out some small gains yesterday after the down day on Monday. Kind of a quiet December, which is kind of typical right now without a lot of moves one way or the other. But you’ve always got individual stocks bouncing around. The 10-year is currently at 4.07%. It’s come down a little bit. It got up to 4.11%. And Bitcoin, which has been the story of the last month maybe, bounced $5,500 yesterday. It’s up another $2,500 today. The first lesson, I think, is the forward P-E ratio of the S&P 500, which I track now on a daily basis because it’s been such kind of really a critical lesson. Kind of a trading number. When it gets to 23, that seems like the top of this current band in the S&P 500. And when it gets down into the 21 area, that seems to be a rallying point. Where are we at right now? We’re at 22.51. which puts us just 2.2% away from that 23 level. And when I do the math, it seems like the top of the market right now where you would hit 23 times forward PE ratio on the S&P 500 is 6,977. So I don’t see Tom Lee from Fundstrat. I don’t see us reaching his magic. His target price is $7,300 over the next three weeks, basically, is what he’s predicting. I see the top somewhere in the $69.77 area because that puts us back at that $23 forward PE. Now, how do we arrive at that number? Well, yesterday the S&P 500 closed at 6,828. And the P.E., the earnings expected over the next four quarters or 12 months, is $303.38. So you divide the current price, the price, the P, 6,828, by the forward earnings, the forward… ratio forward earnings estimates of 303 38 you get 22.51 so i’m going to keep uh i track it every day but i’m going to bring it to you i think on a daily basis too and as we know that 23 being the uh you know that as we’ve talked about for a while now being that five-year top of that ceiling cap right Yes, which, you know, I’ve never seen the market kind of trade within a PE range, forward PE range, but that’s what it’s doing right now. So we may as well use it as a guide. Private firms unexpectedly shed 32,000 jobs in November last year. according to the ADP payroll company’s report. And the futures were doing pretty well until that news came out about an hour before the market opened. And that sent the futures reeling for a while. NASDAQ was down 200 points at one point in time. So you can see we’ve made quite a comeback since then in that NASDAQ.
SPEAKER 07 :
And that ADP number has always been a bit noisy, right? It’s funny. We’re not going to have a payrolls number, so that’s why people are looking at the ADP number. And so… Normally the ADP number is pretty noisy. Usually when we sit here on a jobs week, right, it’s ADP doesn’t really mean that much. And then, of course, the non-farm payrolls are the thing that ends up moving the market. In this case, it’s the only data we got.
SPEAKER 08 :
So are we going to get non-farm payroll?
SPEAKER 07 :
No, it sounds like we’re not getting that this month.
SPEAKER 08 :
We’re flying in the dark.
SPEAKER 07 :
ADP is all we get. Of course, the weekly jobless claims, I’ve heard a lot of economists and prognosticators obviously pay more attention to that weekly number as we do just because it’s a higher frequency number, but it is somewhat indicative of the ADP number in terms of If you look at some of the weekly jobless claims, they’re fine, but some of those continuing claims have been sticky, and so it just means, right, obviously, I think the consensus was $10,000 added. I think what we lost, like $30,000 to $35,000, I think is what the number was.
SPEAKER 08 :
Yeah, and we watch those numbers because that will be our first indications of a recession. And, of course, we haven’t had a recession since 2008 and 2009. And so we continue to be on Recession Watch. This is the 17th year of Recession Watch, right? We’re always on Recession Watch.
SPEAKER 07 :
Yeah, and we had a couple of them. two GDPs in a row, but it wasn’t during COVID. Yeah, and it wasn’t the textbook version because even economists were like, that’s when we all figured out, oh, it takes more than just two negative GDPs in a row, right? That was kind of the rule of thumb. And then there were some other numbers, and it’s like, no, even though we got two in a row, it’s not quite a real recession.
SPEAKER 08 :
Here’s the news item that always makes me scratch my head and slap my forehead and say, what in the heck? EU reaches a deal to end gas imports from Russia. by late twenty twenty seven why didn’t they cut him immediately i mean why did they continue to ship weapons to ukraine and by castro with one hand there they’re shipping weapons that you ukraine to fight russia and on the other hand they’re buying gas they could easily turn around and say hey the u s or whoever we’re gonna buy gas from you but They’re going to hopefully by the end of 2027, that’s over two years away, they’re going to continue to buy Russian gas, which makes absolutely no sense whatsoever to me. Talking about taking on a little gas here, the Trump family, ABTC stock sinks even as Bitcoin rallies. You know, I think if your last name is Trump, now this is his two sons, You’re going to get attacked from somewhere. Probably the short sellers are after this one. But I was looking at a chart of this ABTC, and it is true, even though there is a rebound. We were up 5,000 yesterday in Bitcoin. We’re up just over 2,000 today, but ABTC… Well, it’s rebounding. It’s up 9% right now. It was down 50% yesterday. So talk about a volatile stock. That’s Trump’s sons, and they’re one of their little ventures. SEC warns ETF companies, hey, cut it out. Two times leverage is about all we’re going to allow anymore. We’ve heard some stories about, you know, these direction especially is one of them.
SPEAKER 07 :
And ProShares, our friends at ProShares who… Oh, you got what the biggest, remember the TQQQ, triple Qs. That’s the largest, I think we just said it’s the largest leverage ETF in the world. And the best performing one. Yeah.
SPEAKER 08 :
Well, that’s how it got to be the largest, right? Right, probably. It helps to have performance. You know, people don’t realize… Three times does it quick, right? In our industry, you can get a lot of organic growth from your investments, okay? It doesn’t just come from acquisitions, the investments you make. And that’s how that ETF became so big, because of the investments in the NASDAQ, tripled the NASDAQ. Okay. In fact, the SEC said, you know, we think that 200, two times leveraged exposure to underlying indices or securities, that’s enough leverage. That’s about all we’re going to allow anymore, even though there are some 3Xs. And they were hoping for 4, 5, 6. Who knows? We’ll be right back.
SPEAKER 1 :
Thank you.
SPEAKER 08 :
And welcome back to the second quarter of today’s Best Stocks Now show. Now, here’s a chief investment strategist that I agree with. He’s with Piper Sandler. That’s Michael Kantrowitz. He believes that softer employment data is setting the stage for lower interest rates and a broader economic recovery strategy. that would include a broadening in stock. So actually, Barry, weak employment reports, if you buy into that theory, which I do, is going to lead to lower interest rates because that’s the two things that the Fed watches. There’s another lesson. The two things. We have one of the homes we lived in. We had a model home that was all decorated. We bought it with the furniture. Modeled home. That’s an easy way to do it. It was pretty cool.
SPEAKER 05 :
It was called move-in ready, right? Move-in ready. I didn’t have to.
SPEAKER 08 :
And it came with this big scale where you balance two things on the scale. And I think of the Fed. On the one hand, it is jobs and job weakness. And on the other hand, it’s inflation. Those are the two things that they’re weighing. And when the scale tips towards inflation, they get stingy on the rate cuts. And when the scale tips towards a weakening job market, they start to think about we need to cut interest rates to keep the economy going. So we’re going to watch that scale all throughout 2026 because it’s going to be a very important one. Which leads to my next story. There was a company that reported last night, which it wasn’t really that meaningful. It was Okta. They reported earnings. But what the analysts were worried about is they did not provide fiscal 2027 outlook. They did not provide one. And that just proves the point that I’ve been saying that the analysts on the street are looking ahead. They’ve already got 2025 factored in a long time ago. Of course, there’s only one month left. They’ve already factored in 2026, those earnings estimates, and now they’re looking ahead to 2027. And, you know, that is another ratio that I watch. It’s the current price of the S&P 500 divided by 2027. which goes beyond the next 12 months, right? The next 12 months is all of 2026, but right now they’re looking at 2027 and it’s worrisome to them when a company reports earnings and doesn’t supply uh 2027 now i know and it’s hard to project that far ahead but these companies do have all of them have long-term three to five year uh pro forma income statements and they’re in an interest i mean which we’ve talked about in terms of ai execution right in terms of uh you know in terms of winners and losers i mean they’re they’re set up in a nice place in terms of i you know
SPEAKER 07 :
Identification, I’ve heard, in terms of AI, it’s going to be important, right, in terms of who you’re identifying. That’s what happened in one of these issues in terms of that hack where you had the Chinese AI hack where they were essentially acting like they were. Their agents were acting like they were part of the security team at the place they were infiltrating. And so identifying who’s on the other end is important. Well, Okta’s in that single sign-in space. In other words, they could either benefit greatly from it or they could get squeezed out via new technology. And to me, I’d be more worried if they’re not giving guidance that that might be an issue. But you never know. It could be that, hey, we’re on to it. Everybody needs what we need. And our guidance may be better. blow out who knows yeah my guess is it’s weird the stock hasn’t even moved much yeah and the stock hasn’t moved and it really hasn’t moved much if you look at the chart i mean it’s been in basically a range for you know since june almost yes now speaking of ai and we’ve been talking about this at the end of the day there’s going to be two major players but there’s going to be one that’s dominant and right now that horse race is between uh
SPEAKER 08 :
Google, which all of a sudden got back in the race and has probably taken the lead and in second place now is ChatGPT. But you can’t count out Anthropic, which is lurking out there as a private company. They’re backed by Google, which would be another feather in Google’s cap, by the way, and Amazon. That would give Amazon exposure to AI. But I read that Anthropic is stepping up their IPO prep. In the race against OpenAI. And, you know, I would say if Anthropic comes public, I don’t know when OpenAI is planning to come public, but they’re basically Microsoft, okay? Them and Microsoft are tied at the hip. That’s ChatGPT. But if Anthropic goes public, that could put Microsoft in third place. So the money being spent, the value to the eventual winner of this race is enormous. And so really you’ve got those three, along with several others. You can’t count out Grok. I read, too, that Elon, one of his other ambitions, which we haven’t heard from in a long time, is the Boring Company. He’s ramping up plans in Las Vegas and Nashville, your old hometown.
SPEAKER 07 :
I’ll tell you what, you want to dig through Nashville. I mean, there’s a lot of granite. I’ve known a lot of, you know, you’ve got to blow stuff up to build stuff there.
SPEAKER 05 :
So good luck. I mean, it’s not a bad place to try if it works.
SPEAKER 08 :
California is the same way. I used to use a jackhammer to put in a sprinkler system in my front yard. A jackhammer. Yeah. because it was so compacted dirt.
SPEAKER 05 :
Not even an auger. An auger wouldn’t even do it.
SPEAKER 08 :
You’d have to have a jackhammer. But, you know, traffic is a major problem, and you can either go under it, or if you’re Archer Aviation, you’re going to go over it. Archer reveals plans for the Miami Metropolitan Air Taxi Network. Okay, you want to fly over the traffic, you grab an air taxi, And they will have service from Miami to Fort Lauderdale, to the Fort Lauderdale Hollywood Airport, that is, the Palm Beach International Airport. I didn’t know they had an international airport in Palm Beach. I guess they do, along with other aviation airports in the area. So, you know, that’s the idea, is either go up and over the traffic, Or underneath the traffic, which seems to me there’s a lot of obstacles to boring the tunnels and building this underground network. I don’t really see that. But never count Elon. He wants electric cars under the ground is what he wants. All right. Now, here’s our good friends from Europe. They have a watchdog for everything, Barry. The UK’s advertising watchdog has banned advertisements from Nike, Superdry, and Lacoste. That’s the shirt with the little alligator. They’ve made misleading environmental claims as part of the regulators’ crackdown on greenwashing. So if there’s not a regulation or a tax or a fine or an investigation that Europe is not up to right now. Now, what kind of claims has Nike made on their greenwashing? efforts and uh you know climate change efforts but europe’s all over it cracking down and banning ads that overstate their efforts we’ll be right back this is bill gunderson thank you for tuning in to today’s best stocks now best inverse funds now show I put several hours of research in during the wee hours of the morning each day to bring you the very best cutting-edge stories that I can. To get two free weeks of my newsletter, go to GundersonCapital.com. To talk to us about our fee-based only money management services, call us at 855-611-BEST. Now, back to the second half of the show. And welcome back here to the second half of today’s Best Docs Now show where there’s a lot of lessons here in the market today. Some good, some bad. It cuts both ways. But anyways, we always like to learn from what’s going on in the market. There’s usually an explanation for it. You know, the market really, there’s a lot of logic to the market, Barry. I mean, people, I think, make it too complicated sometimes. Look at the very simple equation of earnings. Times a multiple equals a target price. That’s pretty easy to figure out, and that gives some order to the market. You’ll hear people say that it’s just all random, that it’s rigged. There’s a lot of logic in the market, to be honest, and that’s what I try to do is bring the logic to it. Look, consider this logic. In 08, the market, the S&P 500, made $60 per share. This, right now, over the next 12 months, we’re expected to make $303 per share, okay? So if you apply a 22 or 21 or 20 multiple to that, Shoot, you had a $1,200 target price back in 2008, and that’s about where the S&P 500 traded at. And now you’ve got a $7,000 target price. It’s based on those earnings, and even more importantly, those earnings estimates. And that’s why the analysts get sideways when a company doesn’t provide estimates, even as far out as 2027. Now, that’s an anomaly. Most of the companies do provide. estimates uh… out uh… further than that uh… but in this case the company didn’t and uh… you’ve got uh… the uh… the market all upset with that which is which is kind of silly really uh… other news here today in the market
SPEAKER 07 :
let’s take a look at uh uh i just lost my notes barry yeah fill in there for a minute while i yeah well i mean to me what i’ve been having my eye on today is is is another lesson learned would be bitcoin um you know we’ve talked about how it’s hard to see you know envision kind of a move back to speculation and without uh you know some recovery in bitcoin because you had a lot of and the capital out there that really just went poof, particularly when you involve leverage. And so with Bitcoin, what, up, I think it’s at $92,667 at the moment. So it’s bounced fairly significantly off that low, but I think it almost broke $80,000 at one point. It may have broken. It actually did break $80,000 at one point. It got down to $74,000, I believe.
SPEAKER 08 :
I think stuff like this, though, I think it definitely, people got to wonder. It makes people wonder about, is it this safe haven to go? Is it this alternative currency that we can rely on when push comes to shove, right?
SPEAKER 07 :
Well, it’s poking some of those holes. I mean, it’s like, you know, one of the things, it’s like, oh, it’s digital gold. Well, of course, in this instance, right, you compare gold and Bitcoin over the last two months, right? And it’s, you know, they’re moving in two different directions. So it kind of poked, you know, so these events poke a hole in Bitcoin. you know, that particular thesis, right? The other one is, you know, is it a potential, you know, store of value, right? Or, you know, is it more of a speculative tool? So some of these, you know, some of this, it’s been kind of the Teflon-coated, you know, asset or Teflon-coated certainly in the crypto space. And it’s, you know, just like any asset, particularly if there’s a lot of speculation and not a great way to value it, right, in terms of valuation, you’re going to have these swings.
SPEAKER 08 :
Yeah, and I think it shakes people’s confidence, really. I mean, because it’s been a long time since there’s been any kind of real sell-off in Bitcoin.
SPEAKER 07 :
You have to almost go back to that. Remember when you had a lot of the… I always want to say Frankenstein, but it’s the crypto guy who got in trouble with the hair. So whenever he had to, they basically had to liquidate a lot of crypto to pay back the people that essentially stole from. And when all of that hit, You know, the market, as we’ve seen, you had this big exchange just sell $400 million of Bitcoin onto the market, and that’s kind of what dove that thing to below $80,000 for a few days.
SPEAKER 08 :
Yeah, that was really, yeah, that’s kind of the last big scare that we’ve had with the crypto.
SPEAKER 07 :
Bankman Freed. Bankman Freed.
SPEAKER 08 :
Yeah, Bankman Freed.
SPEAKER 07 :
I always think of a Ghostbusters always comes to mind.
SPEAKER 08 :
You go from $125,000 per coin down to $80,000. Man, there was some real pain there. I mean, I could feel it. Even though I don’t own it, I could feel the pain. And it definitely is a confidence shaker. ETF boom. November inflows pushed the industry to a record-breaking $1.25 trillion. That’s another thing that’s happened during my career in the industry. I think, you know, the stock picker, the putting together portfolios, et cetera, pretty hit or miss by most people if you’re a registered investment advisor. They don’t really teach that. I mean, when you pass the test and get your license to be an RIA, there’s nothing at all hardly.
SPEAKER 06 :
They don’t want you to be dangerous. No. They don’t really. I mean, most institutions will kind of direct you away from that.
SPEAKER 08 :
So along come the exchange-traded funds, which have put a big dent in the mutual fund industry. The advantages are they trade throughout the day. A mutual fund trades at the end of the day, whatever the closing price of the stocks were at that point in time. You have your chance to liquidate your shares, your holdings in the mutual fund, whereas the ETF trades during the day. And instead of a mutual fund, the expenses are a lot higher. You have more of that capital gains, tax inefficiency.
SPEAKER 05 :
Tax inefficiency.
SPEAKER 08 :
So the ETFs did fill in a lot of gaps, and now you have a guy like me, who’s a registered investment advisor, and let’s say they’re new in the industry, and they like tech, they know that tech is a good, well, you can buy the semiconductor ETF. You can buy the software ETF. But having said that, the software ETF, for instance, is only up like 1% or 2% so far this year. Had you just focused on two or three, four of the best software stocks, which in my book are Palantir, which is up over 100% this year, CrowdStrike, which reported earnings yesterday, by the way, and CrowdStrike is down 2.2%. That’s the stock I’m looking to get back into. I took my profit in CrowdStrike because it was a good one. And I took my profit in Palantir. And then I would say, you know, the next ones that are good, Palo Alto Networks and a few others. But there’s a lot of really bad software stocks. And that’s the problem that I have with an ETF. Why do I got to buy all the crap online? a lot that’s that’s stuffed into this sausage when i can just pick out the really good ones but i guess the average uh guy in our business registered investment advisor is not capable of doing that So they say, just throw the dart, just shoot a shotgun at the software sector, and you’re bound to hit a few winners. But the vast majority of them are really mediocre stocks. So that’s my knock against this whole ETF, the explosion. I can’t even keep up. In the app… You know, I try to put all the major ETFs, but they’re coming out every single day with a variation on this and a variation on that. But I do have, you know, you can go to the app and you can click on ETFs and get the top-ranked ETFs. And it doesn’t matter whether it’s tech, oil. canada sweden uh norway ai uh nuclear etc etc etc uh it it lets you know it’s also a good way of tracking where the sector uh you know strength is in the market so you know i i think that’s important too is also narrowing down the sectors in the market for instance The oil and gas sector has done nothing this year, okay? The gold and silver sectors have been red hot. The precious metals, doesn’t it just make sense to kind of have a heavier weighting to the sectors that are doing well as opposed to the ones that are totally being left in the dust in 2025? We’ll be right back. And welcome back here to the final segment of today’s Best Docs Now show. My next subject is also another good lesson, I think. You know, there was a day not too long ago when Seeking Alpha was dominated by two things. REITs. and high yield investing. I got very disillusioned with Seeking Alpha. Those were the most popular articles. They always went right to the top of the leaderboard by most page views, etc. Trending articles. And I said, I don’t know why. Why are you here seeking alpha? That’s the name of the site, Seeking Alpha.
SPEAKER 05 :
We’re talking about dividend stocks.
SPEAKER 08 :
I even wrote an article. Why are you here on Seeking Alpha when you’re looking at dogs like high-yield stuff, crap, and REITs? Okay. Now, was I right? Well, okay, the REIT index. The index, RWR, I use as a proxy. It’s an ETF of REITs. Over the last 10 years, it has averaged 4.7% per year total return. 4.7. The S&P is 22.5. And yet, and I haven’t seen the guys, they seem to have disappeared. Maybe they’re working at Starbucks or something like my friends that I worked with in the early 2000s that got washed out of the market when the NASDAQ got clobbered. And, you know, the other argument about REITs, and I heard it yesterday, they were interviewing on Bloomberg a REIT guy, a professional who works for one of the big REIT companies out there. they always claim that REITs are non-correlated to the market. And that was the big argument they made with the non-traded REITs.
SPEAKER 07 :
Yeah, it’s because they weren’t priced. So, of course, they didn’t have much standard deviation and volatility because they were only priced once every so often.
SPEAKER 08 :
Well, and the other reason why you want to try to have some non-correlated things to the stock market is because when the market tanks, it supposedly goes the other way or holds up well. Well, let’s look at the REIT index during the last bear market. 08 and 09, the REITs went down 71.5% when the S&P went down 54.5%. I would say that that’s correlated in even a worse way. When the market gets clobbered, it gets clobbered even more. Now let’s just take a look at the landscape, and here’s another lesson. It doesn’t take a rocket scientist to look at malls, office buildings, regional shopping centers, all the things that REITs are made of, except for apartments. Okay, I’ll give you that, and I’ll look at the big apartment one here in a minute. And data warehouses. Yeah, well, data warehouses is a new thing. Usually those are REITs that only own data warehouses. Right. But, you know, just the landscape for REITs is bad. Are you going to invest? I see so many vacancy, space for lease. How much space is for lease across America’s landscape?
SPEAKER 07 :
I mean, the only thing, to me, the only thing that they really have going for them, if you talk about any tailwind, right, would be potentially lower interest rates, right, which would make, you know, could potentially push cap rates higher, right? So just like we talk about lower interest rates make multiples higher, right? So your cap rate could end up being higher, but from a value standpoint. But a lot of these, I mean, these offices, you’ve seen a number of them in, in new york city beginning to turn in you know trying to turn it into residential yeah obviously that costs money well also it ends up being a negative yield at first right it’s like okay i got this reet um no one got a big vacancy but guess what to to get anyone in there i’ve got a Pour more money in. I’ve got to throw good money after bad, right, just to get it back to where it’s risky.
SPEAKER 08 :
And I’m starting to see a trend of these REITs lowering, cutting their dividend. Yep. And that’s not good either. And how have they done lately? When I talk about the market and the general consensus is to have exposure to all of the different sectors in the market at any given point in time, to not have all your eggs in one basket, which I don’t believe in doing that. I do believe in being diversified, but amongst the best sectors in the market now. The REITs over the last 12 months are down 3%. While the S&P is hitting new all-time highs, the NASDAQ is hitting new all-time highs, the S&P 500 is at or near new all-time highs, the REITs down 3%. We don’t have any exposure to real estate investment trusts. If I was putting together an asset allocation, which usually includes you want exposure to real estate, and it’s usually a pretty good chunk. As a certified financial planner, wouldn’t you say that most, 10% to 15% exposure to real estate of some kind? Now, a lot of people have it through their home.
SPEAKER 07 :
Right. And the key, as we always mention, obviously, it’s liquidity, right? I mean, the problem with obviously having, say, all of your money wrapped up in real estate is obviously from a liquidity standpoint, unless you’re just cash flowing a significant amount, say, from rental income during that period, right? I mean, you’ve It’s really usually the liquidity crunch is really what gets most real estate investors at some point, especially if they get overextended.
SPEAKER 08 :
Yeah, and I think a lot of money can be made in real estate by private individuals and little groups and this and that. But trying to do it through the stock market, and I have not seen any private REITs floated in a long, long time.
SPEAKER 07 :
In publicly traded REITs, correlation-wise, they are much more correlated to the market than real estate, I guess, privately held real estate has been historically. The problem with, like you said, these non-traded REITs is liquidity. Big time.
SPEAKER 08 :
So anyways, there’s another lesson. I mean, you do not have to have exposure amongst all the industries out there in America. Try to focus on the ones that are growing and are vibrant and have good blood circulation right now and avoid the ones that are basically near death in some cases. Several lessons in today’s show today. Well, the newsletter each week, I try to put in a lot of lessons in there. You get four free weeks. That’s a good way to start the year. You get ready for 2026, which I think we’re shaping up. We’re going to have a falling interest rate environment and a good earnings environment. That’s a good combination. Go to GundersenCapital.com. And, you know, if you’re stuck in REITs and oil sector and just a bunch of dead stuff in your portfolio, get a makeover. a second opinion, set up an appointment with us at 855-611-BEST. 855-611-BEST. Have a great day, everybody.
SPEAKER 04 :
This show is not a solicitation to buy or sell any securities. Bill Gunderson or clients of Gunderson Capital Management may have long or short positions in stocks mentioned during the show. Past performance is not indicative of future performance. Gunderson Capital Management is a fee-based registered investment advisory firm. All accounts are held at Charles Schwab. Schwab is a member of SIPC and FINRA.
This episode delves into the complexities of market behavior, providing listeners with strategies on how to manage their investments effectively. Bill Gundersen delivers timely insights into cryptocurrencies, market forecasts, and sector performances while sharing his expert perspective on forward P-E ratios and market predictions. Tune in for a blend of financial education and practical investment advice tailored for both seasoned investors and beginners.
