Screen. And we look at buying opportunities intact. Ben, carlton and. [inaudible] all practicing social distancing, thank you for letting us into your homes, i promise i will try not to stare at the background behind you for personal details. Ill do my best. Then, let me go right to you about the market. I used to know a thing or two about how the stock market works. You had your ups and downs, you waited them out, you got good returns over time, i not only just watched a bull market turn into a bear market in record time, i briefly watch that bear make it turn into a bull market in record time. What in the holy blue is going on with the market. I wish i could tell you. The only thing we can really know right now is that it is volatile. Through tuesday the market had been averaging 6 . Day. It hadnt done anything like that since the great depression. These kind of moves that were seeing come from the unknowable thats out there. Before we were worried that the Financial System was melti
Crisis. He is in charge of 2. 3 trillion. Relief is on the way for millions of americans meanwhile and has a 2 trilliondollar coronavirus package is expected to help Small Businesses and individuals as soon as next week. It includes funding for public health, Small Businesses, Small Business loans, Unemployment Benefits and direct payment to americans. Steven mnunchin tells me that the new bank Lending Program will be ready by next friday. Chairman powell and i are speaking multiple times a day, every day. Even before this legislation was passed, the fed requested use of 133, those are there emergency powers, the way this works is the fed makes a request to me as treasury secretary, i have to approve it, ive approved all the requests so far, weve announced five of these transactions using existing money that we had before the legislation was passed, and the mechanism works in some of these where the fed is doing certain transactions, vacant credit support from the treasury and money th
They are warning the us economy could shrink a 14 in the Second Quarter. Thats coming as the Federal Reserve and global Central Banks across the world announce measures to offset the injured Economic Impact of coronavirus. Join me right now to talk about all of that hank smith. Hanks thanks much for weighing in today we appreciate you joining us, what are you doing in your portfolio in the face of all this . Well, first of all, we are not panicking. We constantly communicate with our clients regarding their asset allocation, we also, for a number of years have always recommend to have enough cash to meet spending needs one year even up to two years out. So, in an environment where you own both stocks and bonds, now is the time to start looking to your adding to your equity positions because that allocation has come down due to the obviously to this bear market. It is a pain trade for sure, but over the past six years, the opposite was equally true where we were trimming equities becaus
They are warning the us economy could shrink a 14 in the Second Quarter. Thats coming as the Federal Reserve and global Central Banks across the world announce measures to offset the injured Economic Impact of coronavirus. Join me right now to talk about all of that hank smith. Hanks thanks much for weighing in today we appreciate you joining us, what are you doing in your portfolio in the face of all this . Well, first of all, we are not panicking. We constantly communicate with our clients regarding their asset allocation, we also, for a number of years have always recommend to have enough cash to meet spending needs one year even up to two years out. So, in an environment where you own both stocks and bonds, now is the time to start looking to your adding to your equity positions because that allocation has come down due to the obviously to this bear market. It is a pain trade for sure, but over the past six years, the opposite was equally true where we were trimming equities becaus
Screen. And we look at buying opportunities intact. Ben, carlton and. [inaudible] all practicing social distancing, thank you for letting us into your homes, i promise i will try not to stare at the background behind you for personal details. Ill do my best. Then, let me go right to you about the market. I used to know a thing or two about how the stock market works. You had your ups and downs, you waited them out, you got good returns over time, i not only just watched a bull market turn into a bear market in record time, i briefly watch that bear make it turn into a bull market in record time. What in the holy blue is going on with the market. I wish i could tell you. The only thing we can really know right now is that it is volatile. Through tuesday the market had been averaging 6 . Day. It hadnt done anything like that since the great depression. These kind of moves that were seeing come from the unknowable thats out there. Before we were worried that the Financial System was melti