David Spika
speaker
71 appearances
1 recordings
1 series
first heard Jul 2018
last heard Jul 2018
David Spika’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · This Should Worry Investors for the Rest of the Year · 30 Jul 2018
podcast
Sure.
I would agree that it doesn't appear a recession is on the horizon.
We are very long in the tooth in this economic expansion and in the bull market.
But as you mentioned, growth in the second quarter was over 4%.
Unemployment is still very, very strong or the employment rate is very, very high.
And there's still a lot of data that would indicate the economy is going well.
But in order to prepare, I think it's important for investors to note that this has been a very powerful and very long bull market.
And it's probably better to prepare ahead of time.
You don't want to get too greedy.
So at this point, it's probably a good idea to start thinking about being a little bit defensive.
It doesn't mean you sell your equities and hide out in cash, but cash rates are going up.
Cash is now becoming a more viable investment option.
There are other strategies besides stocks and bonds that do make sense in this environment, and they can protect you against the inevitable volatility that we're likely to face.
Absolutely.
I think now's a good time to do some de-risking.
So, for instance, you saw what happened with Facebook after they had their earnings announcement.
That was disappointing.
The stock was down 24 or 25 percent after hours.
Been a great company to own.
But clearly, at certain points, expectations get very, very high for stocks, get very high for asset classes.
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