James McDonald

speaker

95 appearances 1 recordings 1 series first heard Sep 2020 last heard Sep 2020

James McDonald’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Market Preview: What to Expect in the Fourth Quarter · 29 Sep 2020 podcast

We have a three-headed monster.

We have an election year.

We have a pandemic.

And then we have a Fed that is doing things that no Fed has ever done.

True volatility will return imminently.

We are expecting a big spike in volatility as seen in February and March when the virus first hit.

We saw a glimpse of that volatility again on June 11th when we had a minor pullback in the markets.

And then here, just in the beginning of September, we've seen the market correct in all three major indexes, the Dow, the S&P 500, and the Nasdaq.

And we got a really quick spike in volatility, but it's come back down

Volatility as a true asset class is underpriced here, and that's where we like to invest.

Now, will the stock market provide fits and starts and surprises?

Yes, but we think there's going to be a general downward trend starting probably late this week heading into the election, and then we will see a true spike in volatility.

Their caution level should be high.

And this is a tricky time for us.

We've seen this before.

I've been doing this for almost 30 years.

There are companies like Microsoft and Amazon and Google that are monsters in their space.

But these companies, too, had to trade during severe economic conditions.

And so if we go back to the 2001 dot com crash, was Microsoft a great company?

Absolutely.

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