charles: i always said sometimes stocks with low valuations have low valuations for a reason but you touched on something i think is sort of ironic, and the article did as well, because a lot of folks that come on the show, i talked about every 10 years or so there is a new leadership group. > i think you need to pay attention to that. i think you really have to get in there to look because just because a stock's price has come down does not mean it's a cheap valuation for the stock relative to the market. different sectors pulling back and then doing better. it really kind of fits into the narrative of a rolling recession. you can't just say these did well last time. you have to look at these stocks individually. Month, growth slowing, strong labor market, all the things happening. the choice is clear: make your business future ready with and you choose a next generation 10g network that's always improving, getting faster more reliable and more intelligent to keep you ready for today and tomorrow. you choose advanced security for total peace of mind. when you choose comcast business internet, you choose the largest, fastest reliable network. start today at for businesses of all sizes, there are a lot of choices when it comes to your internet and technology needs. join 17 million people and take control of your financial future to empower what's next. and i have been eating all these stupid chia seeds! i could totally live to be 100! why do i keep taking such good care of my- since we started working with empower, we're able to get all our financial questions answered, so we don't have to worry. what if we live to like 100? that's 35 years of being retired. i got to ask you about this morning, right? the latest consumer confidenceĭo you ever worry we'll live forever? no, it's literally never crossed my mind. charles: i think it is fantastic for people who can't control their emotions which is about 99% of us. so to secure our profits and if we get taken out we usually have a profit. obviously as we're going up higher, charles, we are trailing those stocks up higher. so i don't like to risk that much more than that in this kind of environment. generally speaking i will say maybe we're 10% on the downside.
we'll look also at the technicals, find a level we're comfortable with, couple percentage points, two percentage points below whatever the level is. based sometimes on average true range calculations.
we do individual work on all positions, in terms of the volatility of the stock, not necessarily the volatility of the market but of that particular issue that we're buying. for us it is technical for the most part. What is the relationship to the potential target you're looking for until you put on a new position? > fantastic question. i guess you're not a fan of month to month core cpe services less housing as the gauge we should be looking at? > well it is not that i'm not a fan of it. what is interesting you call it a made-up inflation gauge. > now you posted a chart of the fed's favorite impatience gauge. that was the basis why he said the financial conditions weren't overly tight although wall street kind of thought the other way because the stock market was up and there's the disconnect between the two. he is worried about the 5% of the american public that cannot come up with $1000 save national emergency. the fact of the matter jay powell is looking at the larger picture. i'm center of my universe and wall street is the center of its universe and thinks wall street revolves around it. is wall street too focused on what fed does to the market? > wall street always done.
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