Saker Nusseibeh

speaker

77 appearances 1 recordings 1 series first heard Jul 2020 last heard Jul 2020

Saker Nusseibeh’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · After Strong Quarter, Where Is Wall Street Headed Next? · 1 Jul 2020 podcast

economy is still a strong engine.

And actually, I'm very constructive on the U.S.

recovery.

I would say what we say at Federated Hermes anyway is the only way to invest is for the long term.

And for the long term, I'd put money into the market.

And I remind people of I was a growth manager for most of my career.

And I remind people of what the greatest value manager ever said.

And that's Warren Buffett, of course, when he said, when I see a discount in my favorite store, I get happy because I can buy my stuff cheaper, something to those effects.

And I'd say the same about the economy.

The economy is not destroyed.

It's just taking time out, but it will come back.

If I think of somebody at 60 who plans to retire at 65, they would have a different tolerance for volatility, which is what we're talking about, than somebody who says 40 and plans to retire at 65.

Likewise, if you're 59 like me and you're not planning to retire before 70, you have a higher tolerance of volatility.

So in general, trying to react to the market by trying to time it is a loser's game.

And it's a loser's game because the statistics show, stats show that people on average don't get it right.

And what you end up doing is actually shifting typically at the wrong point because you sort of want to come into the market just when everybody else has come in.

You want to come out of the market when everybody else has gone out.

So I would be careful about changing my allocation.

But people have different circumstances.

And people who are one year away from retirement might want to try to lock in what they've got into cash and physical assets.

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