Peter Tuchman

And if opportunities present themselves, make sure that we seize them.

And if opportunities present themselves, make sure that we seize them.

Right. So I think it is interesting because there's all kinds of people out there. And I would there's what I would call the retail investor kind of doing things on their own. There's retail investors that have advisors. Those would be creative planning clients. There's institutional investors, which are big universities, endowments and so on. Our typical client.

Right. So I think it is interesting because there's all kinds of people out there. And I would there's what I would call the retail investor kind of doing things on their own. There's retail investors that have advisors. Those would be creative planning clients. There's institutional investors, which are big universities, endowments and so on. Our typical client.

really is, as a group, is generally unfazed by all of this. So we're constantly educating them on, just like you said at the top of this, Nicole, right? Corrections happen about every year or two. They're 10% or more. The average one's 14%. The bear markets, this is the third one in five years where there's a drop of 20% or more.

really is, as a group, is generally unfazed by all of this. So we're constantly educating them on, just like you said at the top of this, Nicole, right? Corrections happen about every year or two. They're 10% or more. The average one's 14%. The bear markets, this is the third one in five years where there's a drop of 20% or more.

I mean, they know this stuff is going to happen and we've built their portfolios to prepare for it. So if you're young and we've coached people that are young, like this is amazing. You know, the longer a market can stay down if you're young, the better because you're saving, you're buying, you want to buy while they're at discounted prices. You don't want the market at all time highs.

I mean, they know this stuff is going to happen and we've built their portfolios to prepare for it. So if you're young and we've coached people that are young, like this is amazing. You know, the longer a market can stay down if you're young, the better because you're saving, you're buying, you want to buy while they're at discounted prices. You don't want the market at all time highs.

You want it to stay down. If you're young or you're even if you're 55 and you're putting money away, the market run up yesterday was not positive because you want it to be lower while you're buying. But if you're retired or you're older and you're relying on the portfolio, well, you should have bonds to cover your short term needs. So either way,

You want it to stay down. If you're young or you're even if you're 55 and you're putting money away, the market run up yesterday was not positive because you want it to be lower while you're buying. But if you're retired or you're older and you're relying on the portfolio, well, you should have bonds to cover your short term needs. So either way,

the prepared investor isn't phased because they're prepared. They know these things happen and their portfolio is built in a way to prepare them. I think the average American, that's not how they're making their decisions, right?

the prepared investor isn't phased because they're prepared. They know these things happen and their portfolio is built in a way to prepare them. I think the average American, that's not how they're making their decisions, right?

They're buying stocks that they like and they watch them go down 20 or 30% and then they panic and then they go to cash and then the market goes up and you have this irreversible error. And you see that with the flows in bear markets. People tend to exit the market at the worst times and enter at the worst times.

They're buying stocks that they like and they watch them go down 20 or 30% and then they panic and then they go to cash and then the market goes up and you have this irreversible error. And you see that with the flows in bear markets. People tend to exit the market at the worst times and enter at the worst times.

whatever they're doing in their 401k or that regular paycheck should always continue. But if for any reason there was some hoarding along the way where there was money, cash kept to the side that's not needed for emergency reserve, we do encourage them to invest that when the market's down. You never call the bottom. I think of it like mortgage rates drop 1%. You refi your home.

whatever they're doing in their 401k or that regular paycheck should always continue. But if for any reason there was some hoarding along the way where there was money, cash kept to the side that's not needed for emergency reserve, we do encourage them to invest that when the market's down. You never call the bottom. I think of it like mortgage rates drop 1%. You refi your home.

Doesn't mean it's the bottom. They might drop again. You just refi again. And so the more aggressive you can be buying in the down market, the better.

Doesn't mean it's the bottom. They might drop again. You just refi again. And so the more aggressive you can be buying in the down market, the better.

The panicked investor is the worry. The biggest mistakes come from the panicked investors. If you're diversified, the way you're going to screw things up, the main way is by panicking. Now, if you only own one or two or three individual stocks, you have to worry both about the investor and the holdings. But if you're diversified, it's really the behavior that will drive the outcome.

The panicked investor is the worry. The biggest mistakes come from the panicked investors. If you're diversified, the way you're going to screw things up, the main way is by panicking. Now, if you only own one or two or three individual stocks, you have to worry both about the investor and the holdings. But if you're diversified, it's really the behavior that will drive the outcome.