Money Map: Know the Destination
episode
DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing
22 min
3 speakers
3 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
How did market volatility and a family trip set the episode's tone?
Hey, this is Allie, and thanks for listening to the show. Give us a five-star review where you listen and share this episode with someone who might need to hear it. Now, enjoy the show.
Welcome back, ladies and gentlemen. You're listening to another edition of DIY Money.
DIY Money. Welcome back. Quint, you're not looking very tan.
What's going on? That's because the majority of my vacation slash spring break was spent inside watching markets. It was, you know, the flip side of how great this business is, which I still... It's the greatest business in the world, despite the ups and downs and the challenges and so forth. But... Inevitably, over 25 years in this business, there have been countless times. And I say this. Early on, like in my marriage, I remember my wife, there was a season where we went away. And you plan these things. You try to budget the trip. You plan. You do this. And we went away. And it's like the entire long few days or whatever during the week, I was on the computer, phone calls, Zooms. And this was before. Chaos.
Staff and before help and all the rest of this stuff. And it was just the market was in meltdown mode. And the way I equate it to people is as, you know, I serve as chief investment officer of the firm. And it's like when you're on a plane and there's turbulence. I have flown thousands of times. I always hate turbulence. But you know what always makes me feel better? Ice cream. is when the pilot comes on and goes, ladies and gentlemen, there's a little bit of turbulence on here, so please buckle up. We should be through this in the next five to ten minutes. I count down ten minutes. I'm like, you better be right, buddy, because I'm going to be pissed if it's 11 minutes or 12 minutes, okay? Federal Air Marshal, please stay up at the front of the plane.
I don't like turbulence, okay? And so but his comment makes me feel a lot better. Right. He's in control. He's not asleep at the wheel. OK, the best time. This was amazing. My my family and I, we were flying across the Pacific and we hit turbulence that I have never experienced in my life. And to the point where I was like, well, all five of us are here. If we go down, we're all together. Like, we're not leaving a kid. Like, that was what was going through my head. The guy comes on the plane, and he goes, ladies and gentlemen, don't you worry. Big American airplane. We're going to be just fine. People laughed. It was like the levity. I was like, beer. I was like, give me a beer. Give me a glass of wine. No, it just made me feel better.
So the point is, is that did I do anything different? I mean, we did do a little bit of buying, which was nice, but this is coming out on We're producing this on April the 14th.
Why do Quint and Allie compare market turbulence to airplane turbulence?
The previous week, we had extreme volatilities, like 4% or 5% moves any given day. Ironically, the market ended up higher, but it was just important to be there, to communicate with clients, to be able to take calls, and it was wonderful. to know that you, Logan, Vincent, Daniel, Georgia were in the office holding down the fort. That was wonderful. I told my wife, if we did not have that team, I would not have been on that trip. There was just no way I would have been able to go if we didn't have all of you here. So it was really, really nice.
Okay, so that's the market rant, but what did you think of the Grand Canyon? Grand Canyon was grand.
I loved it. It was wonderful. My family and I, my oldest son wanted to do a trip kind of out west and do some hiking. That's not my normal MO, as you know. Oh, yes. However, I am I do have gotten into some ultra trail running, as you know, and I came away from that trip telling a buddy we're going to do the rim to rim. I said, we're going to do the Rim to Rim. And my buddy was like, what? Like, what's that? And I was like, oh, here's a link and another link and a this and a that. No, I really enjoyed it. It was a lot of fun. And the time period we went was beautiful. It wasn't too hot. And it's just a... It was a majestic place. I need to do... I know why you like it. I always joke with you because you put yourself like in death's doorstep when you do these things as a single woman, you know, with strangers and stuff.
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