00:00So what do you say to those investors who are disappointed that they didn't get in at the April lows and are looking at the market near all time highs now saying, I should have, should have, could have, would have?
00:12So, look, I think one of the reasons that we are at this level that we're at is that a lot of people got either caught off guard or a lot of people are underinvested.
00:20A lot of people who are 80, 20 equities to cash at the end of 2024, right?
00:26It made sense for them with the new administration coming in.
00:29Why would you want to give up?
00:30So they'd had such nice growth over the last couple of years.
00:33We had 50 percent growth in the S&P in 2023 and 2024.
00:37So with Mr. Trump coming in and being the wild card that he was, I think a lot of people are sort of went into cash to see how this new administration would pan out.
00:49They did not anticipate the big sell off.
00:51And I also did not.
00:52I don't think that they anticipated the incredible rally.
00:56While we were in the dark parts of April, I said the only silver lining to that massive quick sell off was that we can make it back in just this quick amount of time.
01:05And what ended up happening was after Mr. Trump told everyone to buy the market, we made it back there in half the time.
01:11OK, a lot of people were caught off guard.
01:13A lot of the big players are underinvested in the market and we're seeing a lot of catch up.
01:17The way the market is trading, a lot of these intraday reversals from lower left, upper right to me, show me with the experience that I have having been here for 40 years, is that the buyers are buyers of intent.
01:28They know what they're doing.
01:29They're picking their spots.
01:30At the end of the day, look, if someone missed the vote on buying that low, I did as well, just from my analysis perspective.
01:40Because when we were there and it was so dark and we were so down, and I think a lot of big institutions also felt this, we could not put ourselves in Mr. Trump's mind to think, what is his next move going to be?
01:52Right. Because he kept throwing out a lot of uncertainty.
01:55And so I think everybody was.
01:57I wouldn't feel bad about having missed that because there's always more opportunity.
02:01At the end of the day, if today's high is tomorrow's low, then there's a lot left, you know, for the rest of the year.
02:08We have a whole nother half of the year here.
02:10I think once these deals that are obviously, think about it, the reason, one of the reasons, another reason that the market is up is I believe there's been a lot of backdoor diplomacy going on while we've been focused on the war in the Middle East, that there's been a lot of deal work going on.
02:26I think that we're close to a deal with China.
02:28We are a couple of days away from the EU deal.
02:30We have got the UK on the line.
02:33We have India, right?
02:34We've got obviously Mexico and Canada that are still a little bit sketchy.
02:38But once these deals, right, which have been pending and they were kind of looming for a while, that are now going to probably be good deals, I think then this market could catapult higher.
02:48I'm not a financial disclaimer across the board.
02:51I'm not an advisor.
02:52But just the way the market is acting and the way it's trading, it feels like there's still plenty of room left.
