Peter Tuchman

So it was a little less dramatic, but it went on a very long time. It took almost a year for the market to get back to normal.

So it was a little less dramatic, but it went on a very long time. It took almost a year for the market to get back to normal.

Well, the big opportunities in a recession are building the ownership part of your portfolio. So all investments fall into one of two categories, owner or lender. So if you own US stocks or international stocks or real estate fund or private equity fund, or you own your own business, or you own a duplex you rent out, those are all ownership investments.

Well, the big opportunities in a recession are building the ownership part of your portfolio. So all investments fall into one of two categories, owner or lender. So if you own US stocks or international stocks or real estate fund or private equity fund, or you own your own business, or you own a duplex you rent out, those are all ownership investments.

And then the other side lending is loan money to the federal government. That's a treasury. You loan it to The state of California, that's a municipal. You loan it to Microsoft, that's a corporate bond. Those are all loans. You loan money to your friend, that's a bond as well. But in a recession, it's when being an owner, all those ownership assets are on sale in the recession.

And then the other side lending is loan money to the federal government. That's a treasury. You loan it to The state of California, that's a municipal. You loan it to Microsoft, that's a corporate bond. Those are all loans. You loan money to your friend, that's a bond as well. But in a recession, it's when being an owner, all those ownership assets are on sale in the recession.

So really looking for the quality there that fits your long-term approach and going as far into that as you possibly can, that's the perfect time to be doing it.

So really looking for the quality there that fits your long-term approach and going as far into that as you possibly can, that's the perfect time to be doing it.

Yeah, this is very, very rare, Nicole. So basically, normally when stocks are down, bonds are up. That's what happens about 85% of the time. That's not what happened this time. And part of that was we don't know if Japan and China were starting to sell all their bonds, but something happened.

Yeah, this is very, very rare, Nicole. So basically, normally when stocks are down, bonds are up. That's what happens about 85% of the time. That's not what happened this time. And part of that was we don't know if Japan and China were starting to sell all their bonds, but something happened.

over the last couple of days where there was a lot of supply of bonds thrown on the market and it drove bond prices down. So you're seeing both bonds and stocks go down at the same time. But even with that, they go down very differently. When bonds go down, they go down usually a few percent while stocks are going down 10 times as much.

over the last couple of days where there was a lot of supply of bonds thrown on the market and it drove bond prices down. So you're seeing both bonds and stocks go down at the same time. But even with that, they go down very differently. When bonds go down, they go down usually a few percent while stocks are going down 10 times as much.

So even when they're not behaving exactly the way we want them to, they're still providing a buffer.

So even when they're not behaving exactly the way we want them to, they're still providing a buffer.

I mean, if you think about the Trump administration's kind of perfect storm, you know, not too hot, not too cold, just the perfect gold deluxe moment would be that they negotiate a better tariff deal with every country on Earth. that they get the other things that they want around immigration with Mexico or drugs with other countries or TikTok and the Panama Canal with China.

I mean, if you think about the Trump administration's kind of perfect storm, you know, not too hot, not too cold, just the perfect gold deluxe moment would be that they negotiate a better tariff deal with every country on Earth. that they get the other things that they want around immigration with Mexico or drugs with other countries or TikTok and the Panama Canal with China.

Then they have low inflation. They have peace breakout with low oil prices, which really helps with low inflation. But that along the way, there's enough weakness that the Federal Reserve has to lower interest rates. So when all of this debt comes due next year, all those treasuries get replaced with lower paying treasuries. So the federal government's paying less in interest.

Then they have low inflation. They have peace breakout with low oil prices, which really helps with low inflation. But that along the way, there's enough weakness that the Federal Reserve has to lower interest rates. So when all of this debt comes due next year, all those treasuries get replaced with lower paying treasuries. So the federal government's paying less in interest.

There was a lot of talk that that's what Trump was trying to do, was talk the economy down, drive the stock market down. push the Federal Reserve to lower rates, then you get the lower rates and then you have the negotiations.

There was a lot of talk that that's what Trump was trying to do, was talk the economy down, drive the stock market down. push the Federal Reserve to lower rates, then you get the lower rates and then you have the negotiations.