Embark on a journey with Bill Gunderson as he analyzes the recent sell-off and its implications for long-term investors. This episode sheds light on the art of risk management, focusing on capital gains and how to maintain a balanced portfolio in volatile times. Gunderson articulates the significance of recognizing market corrections, appreciating the nuances of stock performance, and the critical role of vigilant portfolio management. With real-time examples and insights, explore how industry titans like Eli Lilly manage to thrive through market ebbs and flows.
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 02 :
And welcome to the Thursday edition, the sell-off edition. Maybe the top was Monday. Who knows? But you do have a pretty hefty profit-taking round in the market today. We’re going to talk about that a lot. You might want to listen today. The Dow is down 221 right now after hitting a new high on Monday. That’s why I mentioned Monday. Dow down 0.5% right now. The NASDAQ down a little more. It’s down 189 right now, which is 84 basis points. The NASDAQ hit a new all-time high on Monday, 22,310 is where it sits today. The S&P, which hit a new high on Monday, is backing off by 0.5%. Right now it’s down 38%. $65.99. The biggest winners. They’re the most vulnerable, right? I mean, they’re the most vulnerable in the market. They’re selling off the most here today when you get a round of profit-taking. Or is it just profit-taking? More on that in a bit. The small caps are down 1.3. See, they’re the most risk-on asset class of the indexes, and so they’re going to go down the most. When you get a risk-off move like we have today in the markets, the 10-year is not helping, remaining stubbornly high at 4.17 after Jerome Powell’s continued hawkish remarks. He’s right about the valuation of the market. There’s no question about that. But he’s also way behind the curve on the rate cuts. The 10-year right now, 4.19, Jerome. They’ve gone up 20 basis points since you did your quarter of a point rate hike is gone. So welcome to today’s Best Stocks Now show with professional money manager Bill Gunderson, president of Gunderson Capital Management, a nationwide fee-based only money management firm. And I’m here with Barry Kite. Our chartered financial analyst, our certified financial planner, and as I mentioned, I think on Monday and Tuesday maybe, the title of the newsletter this week is Where’s the Top? Now, there’s different tops, Barry. There’s the ultimate top. I mean, we could go back to March of 2000, and the ultimate top on the NASDAQ was 5,300, and by the time the sell-off was over, it was down 79%. That was a… a top in the bull market.
SPEAKER 01 :
There was a top… That was a market restructure.
SPEAKER 02 :
Yes, there was a top in 08 when the S&P 500 went down 53%. So there’s a top in a bull market, and this bull market is now long in the tooth. It’s been going since 2009. It’s the longest one, I think, in the history of the market. Here we are in 2025. It’s now 16 years into this current bull. By I wrote that article in my newsletter back in March of 2009. I said a new bull market is being born, and I was within a few days of calling that one, and I’ve made three market calls since then. But I have not ever called a top in the market publicly, although I knew back in 2008 and 2009 there was a top being put in. But the other kind of a top, It’s just a time for a correction, right? A secondary correction within a bull market. And we’ve had several different tops since 2009. For instance, we had a top in 2021, early in 2021, after the sugar high from all the COVID stimulus. And interest rates, the 10-year going down to like 1%, under 1%. Mortgage loans going down to under 3%. It was just unheard of. When the Fed made that pivot and said, we’re going to start tightening, that was a top in the market. But it wasn’t a top in the bowl, which has been going on since 2009. That continues. We had a secondary sell-off within a 16-year-long bull market that took the market down, I think, about 30, 25 to 30, somewhere in there, Barry, in 2022. NASDAQ was down a little bit more. Yeah, you had NASDAQ down about 35%. Yeah, somewhere in there. Okay. And, of course, the bond market really took it in the shorts. Just go look at the vacant building in Silicon Valley of Silicon Valley Bank, which is no more. And it was interest rate driven.
SPEAKER 01 :
It wasn’t earnings driven. It wasn’t economy driven. Yeah, when you put your charts up there, you don’t see a downward earnings year in 2022, for example. It was strictly valuation slash interest rate.
SPEAKER 02 :
And if I put up a chart of the market since 2009, you would see that the uptrend has never… curled over into a downtrend it’s still intact but we’ve had several i’m sure you studied that getting your cmt a a secondary move within a primary move okay those are called corrections And, you know, I kind of assume, I’ll just give you a little inside baseball. I kind of assume that every day, every time we hit a new high, I usually draw a line there at the top and assume it’s the top. And luckily I’ve been proven wrong. You keep moving that line. Well, yeah. I erase the old one and put in a new one. And I did that on Monday. I assumed that Monday was the top. I don’t think we’re looking at a bear market top, but we could be looking at a top of this current outsized move that we’ve made in the market, especially in the AI sector, which is now the most vulnerable. I was talking about all the clues that we have out there, the pieces of evidence that we have to weigh in our minds. i have an orange flag up on the market which is one away from a red flag right and it’s quite a ways away from a green flag which we put up in january of 2023 and it’s because of valuations that’s the biggest issue we’re getting these economic reports today they’re still good did you see they upped gdp to 3.8 percent Did you see that the trade deficit is narrowing? Did you see that the unemployment claims actually dropped again this week? Did you see that we had a good durable goods order? There’s nothing wrong with the economy. We’ve got a productivity boom, too, which is needed. Yes. But there are tops within these bull markets that, you know, sometimes you want to do, how do I risk manage? Well, through profit taking. If you’ve got a stock that’s doubled or is up, in fact, I sold several yesterday. You saw me sell maybe five that were way up, mostly down in the lower echelons, the smaller cap stocks that had huge gains. That’s one form of risk management, is taking some chips off the table and Locking in some profits. Do you know, Barry, we had a client that left us because I created a $700,000 gain for him in 2024 that he was not happy with. Okay, all right. That’s the first time. I think I’ve had two or three others do that.
SPEAKER 01 :
And there was reasons why you had to sell. I mean, in terms of trimming some gain. I mean, 2023 was a pretty bright year.
SPEAKER 02 :
Yes. Okay, now the thing is, you can say, I don’t want those short-term capital gains, nor do I want those long-term capital gains. Well, that problem can go away if the stock falls back to where you bought it. Do you want to lose those gains just not to pay the tax? That doesn’t make any sense. As a risk manager, I have to determine when I think something is over. I have 215 small decisions to make. That’s how many stocks that I have to look at that are in our portfolios right now amongst everybody. That includes bonds. That includes things that people have transferred in. That includes legacy positions that people don’t want to sell. And it includes the active stocks within our five portfolios right now. So 215 decisions. I just looked through seven or eight before the show began, and my decision was no decision. this looks fine somebody transferred in a lot of Apple it’s had a little spark here recently maybe the 17’s gonna be a hit they need a hit they haven’t had a hit in a long time but you know I said it’s fine we don’t need to do any then I got to about number six or number seven stock and I know that we have a new client that has a very large position that she’s very worried about and doesn’t want to lose that gain And I looked at it and I sent a text to Barry. I said, you know, this stock is sitting on important support level. If it cracks, she may want to sell another chunk of stock and take the profit and sell because she has a very large position in one stock. Not everybody has that issue. That’s why I have to manage portfolios on a little bit of a custom basis. But at the end of the day, I look at every position and make those 215 decisions on a daily basis. I don’t make one decision. I’ve had people call me and say, Bill, I don’t like the way these tariffs are going. Sell everything. And, Barry, we had people like that in March of this year. Of this year. that sold everything because they were worried about the tariffs. That was the absolute worst decision they could have made when that was one of the best buying opportunities of all time back in March of this year. So the market’s made up of a bunch of little decisions. Break it down into a manageable task every day, and it’s much more easy to accomplish those decisions. We’ll be right back. And welcome back here to the second quarter of today’s Best Docs Now show. Obviously, I think risk management begins with knowledge of where we’re at in the cycle, where we’re at in valuations, how much gains we’re sitting on, where we’re at in the interest rate cycle, what’s going on in the world. The more knowledge that you have, the better you can manage risk and recognize when risk comes along that could make things very, very vulnerable. And watching those individual holdings every day. I spend three or four hours a day in quiet time looking at everything I own and making all those individual decisions. And I also look at all the prospective holdings. potential new buys out there well at a time like this too another thing i consider it’s what a hedge fund does why should any why should what you hedge all the time the the airlines hedge against uh their business by uh hedging against oil prices that’s their biggest cost all right i hedge i say what’s the most vulnerable area of the market right now And almost always I come up with the same answer, ARC funds, Kathy Woods. Nothing against Kathy Woods. She is way out there on the frontier, okay? She’s way out there on the frontier in the things she owns. And those things can go up really fast. And a lot of times it’s her buying that drives those things up. And they can come down very fast. That’s the other side of that coin. And you’ve seen her. She was down 66% in the year 2021 when the Fed went on the March 2022, the forward march in interest rates. So I always look at SARC. SARC is Inverse Cathie Wood’s. I think there’s a two-to-one inverse now.
SPEAKER 01 :
You held the flagpole for that first one. I remember the message.
SPEAKER 02 :
The guys who invented that ETF, which is an inverse ETF, and it trades very heavily because I’m not the only one that says, When the market goes, Kathy goes first.
SPEAKER 01 :
Well, it was a good way to judge a risk-off appetite, right? Yes. I mean, in terms of that long-duration trade, and that’s what we used it for.
SPEAKER 02 :
If you own long-duration stocks and interest rates start to go up, long-duration stocks and long-duration bonds are by far the most vulnerable, okay? So, yes, I bought a little Sark in my trading account. I’m kind of the guinea pig, right? I bought a little bit, I think, last Friday or something like that, just as a guinea pig. Let’s see how this thing behaves. And now it’s looking more and more attractive. That would be the first place I would go with a little hedge, maybe a 5% hedge against a growth portfolio or whatever. But it’s obviously the most vulnerable. Then you get down into the AI sector. There’s some hedges against that. AIBD is one. There’s some high beta stock, inverse funds. These are hedges, okay? This is a trampoline, a net underneath the tight wire just in case you go through a little bit of a correction. And they can be money-making opportunities also. Okay, well, we’re blaming the sell-off. And I’m seeing some buying coming into some of the better stocks right now. That’s another thing I can see when I look at individual stocks that I’m considering maybe trimming, okay? i think right now you’ve got valuation issue there’s no question about that and the rate cut uncertainties i mean jerome powell has really rattled the markets i just have to believe that his pride has been hurt his ego has been hurt And, you know, look, it takes a real man to just say, look, I’m not going to even listen to what Trump says or what the others say. I’m going to do my job. But everybody has a little bit of an ego. And I just don’t think that he’s going to do anything in his remaining months on the job to help the current administration. I think that he’s going to say things because he knows. Barry, when he opens his mouth, the markets move big time. And just look, he cuts rates by a quarter of a percent, but by his words, that quarter of a percent, no. Instead, we’ve had a rise of 20%. So that’s been totally offset, his rate cut, by the market, and it’s been caused by the words that he said underneath his breath. But he can’t say anything underneath his breath. The whole market is listening to what the guy has to say. He’s a piece of work, that guy. I’ll be glad when he’s gone. But I truly believe that down underneath he’s saying, I’m not going to do anything to help. You know, this current administration. That’s just the way I feel. His pride has been hurt. He got called on the carpet over spending billions of dollars on their new palatial headquarters for the Fed and this and that. Okay. In the meantime, the economy is humming. U.S. Q2 GDP revised higher to 3.8%, which is intensifying the rebound in the economy. U.S. international trades deficit narrows more than expected in August. Well, when you put 15% tariffs on European cars and tariffs on Chinese goods, that’s going to narrow the trade deficit. We’re not going to buy as many European cars. That’s the whole purpose of the tariffs, is to try to narrow that gap. And the car makers in Europe now have a set tariff of 15%. The deal is sealed. And people are going to think twice before they buy a European car. That’s what it’s meant to do. So that’s good news. Durable goods orders, surprise higher in August. They rose by 2.9%. So that’s why I say maybe a top is being put in now, but it’s a temporary top on this current uptrend in the market. I don’t see us turning the corner towards recession at this current point in time. Initial jobless claims dropped for the second week, all the way down to 218,000. Now, he used, Powell used the jobless claims numbers recently and the big revisions downward to jobs as his reason for lowering rates by a quarter of a percent. And now, you know, you’re seeing this initial jobless claims and maybe the jobs market isn’t as bad and that tilts him back. What’s the other side of his equation, Barry? Inflation. And he said, I had to choose between the fear of rising inflation and the fear of dropping jobs to make that decision. And we leaned towards the jobs market. And now we see a number that comes in that’s really good. Only 218,000 jobless claims. One other thing that relates to the jobless claims is, What’s this H-1B usage going to do? One of the reasons why Trump raised the price to $100,000 for H-1B is because of the layoffs happening in the tech industry. And it’s not happening to the H-1B people. It’s mostly happening to Americans, right? So I think that will also help the jobs market. Capitol Hill intensifies scrutiny of tech. H-1B amid layoffs. All right? Something else to think about. Why is crypto selling off? We’ll be right back.
SPEAKER 06 :
Don’t like him talking so much. And he won’t play what they say to play.
SPEAKER 02 :
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.
SPEAKER 06 :
And welcome back here to the second half of today’s Best Docs Now show.
SPEAKER 02 :
Boy, time flies when we’re having fun, Barry. I mean, I have so much fun. This is one of my favorite things to do all day. I love doing the two hours of research. Before the show, I love doing the show. And then my favorite part of the day is then going in and looking at the investments that we have, that we’re responsible for, that we’re stewards over, and trying to find better ones or upgrades or when is it time to sell. Do we own the very best in the market right now? Is there something out there that’s better? And constantly, I mean, it’s a very exciting time. industry to be in because there’s always new developments every day is a new day it’s a it’s a clean slate yeah it never ceases right and of course the down days challenge you know but i’m going to give you a living live example here i’m looking at my holdings which is part of risk management vigilance vigilance we had an office my office was on the 19th floor right at front and broadway in san diego was the AT&T building a landmark building and Dean Witter was there for a long time and I was on the 19th floor of a 20 floor building my office looked out to the coronado islands and down to mexico and out to point loma I could literally smell the fumes of the Navy ships as they came in and out of the harbor. It was really something. I loved it up there. But on my same floor was a Morgan Stanley office. And they had subdivided that office into about 70 little cubicles, I’m going to guess, maybe 50 little cubicles. And, you know, I would arrive at the building in San Diego at about 5 a.m. Market opens at 6.30. Maybe I got there even a little earlier. Did my research, did the show, did the same routine that I do now. And after the show, I would go maybe take a little break, walk over, maybe get something to eat or whatever. And there would be nobody there. Nobody. Just the receptionist, right? Maybe a few office helpers and workers there. Where are the people that are responsible for managing the portfolios? There was nobody there. And that was not like one day a week. It was like that all the time. Maybe they’re at Rotary. I don’t know. Maybe they’re at Kiwanis. I don’t know. The Lions Club. Key Club. They’re not looking into their computer and watching over things and being vigilant. I do know that because they have their people in a mechanical, robotic machine. one-size-fits-all 50-50 stock bond allocation or 60-40 or 30-70 or whatever the case may be. And they don’t need to manage that, okay? If the people call up and say, I’m worried about my stock holdings, they say, well, don’t worry. 50% is in the bond market, and that will offset things. And, you know, so it’s just… It’s a low maintenance way, and they can spend more time selling as opposed to being vigilant and watching over and trying to really maximize performance for their clients. That’s just my take. But here’s a living example. When the market started to rebound, when I wrote my article on March 8th of this year, The S&P was at 4,800. And I said, I think the tariffs are going to work and the market’s going to turn around. And I did that after listening to an interview with Besant, our Treasury Secretary, a brilliant man who knows the markets. He’s made a fortune being a hedge fund manager, doing what I do, but only on a much bigger scale than me. And I felt in my gut conviction that what they’re, and you have to say, look at the economic reports today. The trade deficit’s going down. GDP is picking up. The market hit new all-time high on Monday. Is it working? Well, I’ll let you be the judge. But anyways, along about middle of June, we bought Astera Labs, which we’ve owned before. It’s a key AI stock. But we own it in our more aggressive portfolios, right? I mean, it’s not in our large cap growth portfolio. It’s not in our value fund. It’s for people that want to mix in a little bit more aggressive, you know, depending on their risk tolerance and what. So we initially bought it in the emerging growth portfolio. which is a pretty small portfolio, really, overall. But a lot of people maybe have it as one-fourth of their overall portfolio, right? So they’re going to end up with some shares in that emerging growth portfolio. And it’s done very well this year. It’s up 30% year-to-date. But Astera Labs has big gains in it right now, okay? We bought it in June. Then we added it to the Ultra Growth on July the 8th. And Astera Labs is up 118% since then. And it started to look a little rocky. Like, you know, I always draw a top in there. I put in a line. I said, maybe this is the top. That was two weeks ago. And it’s corrected a little bit, not a lot, but I always have a line in the sand. That’s my other risk management tool. You’re sitting on a big game. I would love to make this a long-term capital game, Barry. The difference in the tax rate on a long-term capital gain is 20% federal tax versus whatever your income tax rate is, right? Yeah, which could be very high. It could be 30%. It could be lower than 20%. I mean, some retirees have very low tax rates that they’re at right now. So anyway, I would love to have a long-term capital gain. But at the same time, I’m not willing to give up. When you get 115% gain, June, July, August, three months. Three months. I start drawing a line in the sand. If it drops below this line in the sand, I’m going to say thank you. I did that on about three or four yesterday. And that’s going to happen in the emerging growth portfolio where you can get moves like that very quickly. And, of course, in an IRA, it doesn’t matter. I don’t know, half of our portfolios, maybe more than that. Would you say 70% to 80% of our book is in IRAs?
SPEAKER 01 :
I’d probably say close to 70%. That’s just kind of that natural savings vehicle. Yeah, so it’s a moot point.
SPEAKER 02 :
If it’s in a Roth… So I guess I have to weigh the people that have a taxable account. But number one, I don’t want to give up the gain. So yesterday, it looked pretty rocky. And I thought, you know, this might be a good point. That’s one of the decisions I made yesterday. I can look pretty good walking away from this thing with about 130% gain in three months. But then I also know that it’s a key player. And the reason why it’s a little soft right now is when NVIDIA and Jensen Wang made that investment in Intel, which was one block. That happened like two blocks from us, Intel’s headquarters, when we were in the Silicon Valley last week. there was thinking that this could hurt Astera Labs, this combination of NVIDIA and Intel. But now I’m seeing buying coming in the stock. I’m seeing it hold the 200 level which many times a big round number like that is a support level and it hasn’t violated my line in the sand so not only do I put up here this could be the top there’s a line up there a horizontal line and down below a horizontal line this could be the bottom And if it should violate that bottom, right, that’s my line in the sand. And I looked at that thing yesterday, and I saw some buying coming into it as it got down close. Today it went barely below my line in the sand, and now it’s only down 1.6%. And if you look at a chart that shows the high-low for the day, right, Barry, some charts show the closing price only. Well, my MarketSmith charts are updated live, so I can see the trading for today. I can see the low for the day in the bar. I can see the high for the day in the bar. And I see that this stock is way off of its low. That means that on this dip today, buying came in.
SPEAKER 01 :
Yeah, supply and demand. Some demand came in for the stock.
SPEAKER 02 :
Now, the day’s not over yet, but I moved on to the next stock and said, you know what? I’m going to sit tight for now. Yes, it’s hot money. I’m sitting on a big gain, and that’s why when the market starts to sell off, it’s the hot money stocks. down in those aggressive emerging growth realms of the market. And even Cathie Wood, you can go further. I don’t go into the realm that Cathie Wood goes into. She’s buying crypto and Bitcoin miners and private companies. I just don’t go into that realm. That’s the most vulnerable area. And that’s why I say Sark is a good hedge when things get a little rocky in the market because her stuff goes first. Crypto is another one. I don’t like the way… We don’t have any exposure to crypto. But I think crypto would be a big clue as to when we’ve kind of hit a top here in the market. And it certainly has been very vulnerable. Man, we’re down to the last quarter of the show. I had a lot of things to talk about. We’re going to have a two-minute drill when we come back. And welcome back here to the final segment of today’s Best Stocks Now show. Now, I’ve looked through about 25, 30 of our holdings so far, Barry, and what I’m seeing is buying coming into every one of them. Buying of the dip. That’s another clue. Accumulation, distribution. They’re still being accumulated. The distribution. You get these little scary moments like we’ve had. We hit new highs Monday. This is Thursday. We’ve had a two-day sell-off. And then, of course, a few hours this morning, and I’m seeing buying. I can see that by looking at the individual stock. I can see much more in the market by looking at individual companies than I can by listening to the headlines on CNBC. Okay, that’s just the way it is. Amazon would be another example. I think maybe Amazon, their AWS business is being diluted a little bit with all of this announcement of NVIDIA and OpenAI and them getting into the server, data warehousing, storage. Amazon seems to be… very weak but it has not dipped down we have a line in the sand we own amazon i bought it when i thought it was trading at a pretty decent value believe it or not which it hasn’t for a long time so those lines in the sand are very important now the other concept here is every sector in the market and the market itself has good companies well-run cracker jack management that have delivered big returns to investors over the years And it has horrible, I call it leaders and laggards. And generally speaking, it’s the 90-10 rule. I mean, 10% of the fishermen catch 90% of the fish because they know what they’re doing. And I would say that just from my experience in the market and watching a database of 5,300 stocks, there’s usually about 500 or 600 that are superior over the rest. And some are really inferior. Okay, you can take an Eli Lilly, which I think is the superior drug stock in the world today. Even though it’s been around 100 years, headquartered in Indianapolis. We talked yesterday about how they’re going to start making their drugs upbound down in Houston. They’re going to build a plant down there. Houston, we have a problem. Maybe it’s a weight problem. America has a weight problem. I know two people, I know much more than two people who have lost weight, but I know two that have lost 80 pounds on the ZEP mount. It would have never happened any other way. And I contend that it’s still the biggest health problem that we have in America. And I think if you solve the obesity problem and get it, it just ripples through the health of America. What are these RFK make America healthy again? Well, weight loss would be a big, huge thing there. uh in helping with cardiovascular and helping with the liver and helping with diabetes and helping with uh all kinds of things your joints all kinds of different things eli lilly has put up the numbers for investors over the years we’ve gone through the numbers many times and most of the other drug stocks pfizer merc Bristol Myers. Let me just give you an example. Okay. I tell people, someone mentions a stock to you. You know, you hear about it. Jim Cramer’s talking it up. He’s got the CEO on his show. He’s interviewing him. The first place I look is the performance of the stock over the last 1, 3, 5, 10 years. It’s a pretty good sampling. It’s a pretty good indicator of what the stock’s going to do in the future. BMY, Bristol-Myers, an investment in Bristol-Myers 10 years ago, just sitting on it, doing nothing and collecting the dividends, has delivered a total return of zero. All right. So what makes you think… You know, I always use the, my wife and I were at the Pomona races in Pomona, California one day, watching the races in the fall. And one of our friends had a horse in the race. So we were actually in the saddling paddock where they saddle up and the jockeys mount them. And we saw a horse running called the Whole Enchilada. And I looked him up in the racing form. He had run 66 times and never won. The trainer was Conrad Riggs, and I don’t know that Conrad Riggs had ever won as a trainer. But we just said, why does he think that 67 is going to be the charm and that horse is going to win today, right? Today’s the day. He had flies buzzing around him. He looked like he was sleepy. Both the trainer and the horse, by the way, had flies and sleepy. But what makes you think that Bristol-Myers, and yet that’s a stock that we see quite often in a big portfolio from a big Wall Street firm. Now, it gets even worse. Over the last three years, you’ve lost 11% per year. But yet I hear, the reason I bring this up is because somebody upgraded the stock today, and it’s in the news, and I always go and look at the, the other one that’s in the news today is because they’ve reported their earnings. And Accenture, Accenture shows up all the time in portfolios that are transferred to us. Look at the track record. The app, that’s the truth teller. In 10 seconds you can see, wow, this thing has a terrible track record. Now, sometimes something new comes along. GE did it. They turned the ship around. Can Intel turn the ship around? Boeing has turned the ship around. But more often than not, what you see is what you get. And it’s going to continue to give the same mediocre results. And conversely, a company that’s put up big results over the years and continues to put up the results, in my opinion, has a higher probability of continuing to put up, no guarantee. of good results, just like a 320 hitter at the plate has a better chance of driving in that run than a 196 hitter at the plate, which we have plenty of on the Padres. But anyways, I’m just teaching a concept there. Okay, well, we’re out of time. I am seeing buying coming in. I have 200 more decisions to make today. More than that, I mean, what are we going to have for dinner tonight? That’s another one. But anyways, that’s how I manage money, and that’s how I employ risk management constantly on a daily basis. You want to be in the best stocks to begin with. You want to be diversified amongst those stocks. You want to be in ones that match your risk tolerance. and you want to be vigilant on all of your holdings, or you want to have an advisor or money manager that is vigilant and doing that for you while you’re out golfing on the golf course. God bless you. To get a four-week trial, go to my newsletter, GundersonCapital.com. To set up an appointment with us, 855-611-BEST. 855-611-BEST. Have a great day, everybody.
SPEAKER 03 :
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.
