Election season upon us so you know that there will be an irrational impact of politics that is going to hit the market this fall. We also discuss the aging of political figures like Joe Biden and Donald Trump, and the impact of stress on leaders. We explore generational cycles, particularly the "Fourth Turning" theory, and reflect on media influence and propaganda, both in the U.S. and globally. Today we discuss...
- The U.S. presidential candidates and the physical and mental demands of the campaign trail, especially for older politicians.
- They explore the concept of "fourth turning" and generational cycles of conflict, predicting ongoing societal tensions.
- Global perspectives on the U.S. are discussed, contrasting media portrayals and public opinions abroad
- How "truth" is often subjective, shaped by perspective and opinion, especially in political contexts.
- Both sides in a debate typically view the other as misinformed or evil, leading to a polarized environment.
- The upcoming election period is expected to be filled with misinformation and humor, as political discourse tends to devolve.
- Investment markets exhibit similar behavior, where individuals often believe they can predict outcomes, leading to misguided confidence.
- Historical economic events, such as the housing market in the late '90s and 2007, demonstrate patterns of irrational behavior among investors.
- Wall Street often presents a biased perspective, promoting buying to maintain market stability and profits.
- People become emotionally invested in their stocks or political affiliations, which clouds their judgment and objectivity.
- Discussions of gold, silver, and cryptocurrency reveal that tangible assets are often viewed as safe havens in uncertain economic climates.
- Emotional decision-making plays a significant role in how individuals approach investments, especially concerning real estate versus stocks.
"Cash is not trash... Cash is King" - Kirk Chisholm
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Today's Guest: Kirk Chisholm
Kirk Chisholm is a Wealth Manager and Principal at Innovative Advisory Group, an independent Registered Investment Advisor located in Lexington, MA. He has been providing wealth management services to individuals, executives, entrepreneurs, and their families since 1999. He is an outside the box thinker, risk manager, inflation expert, blogger, podcaster, and all-around interesting guy. Kirk is dedicated to developing lasting relationships with all of his clients and their families. One of the benefits of working with Kirk is his patience, empathy, and his ability to provide clear and easy-to-understand explanations to complex financial topics.
Kirk developed a unique philosophy for the wealth management industry called Risk Management First. The medical field has a similar way of thinking of “first do no harm”. This philosophy focuses on risk management for clients in all aspects of their lives in ways the industry does not address. Risk management does not stop with investments. It also requires working closely with other professionals to address areas of their financial lives not currently being met.
In 2008, Kirk co-founded Innovative Advisory Group to address the needs not being addressed by the wealth management industry. It started with specializing in alternative assets held in retirement accounts (i.e. self directed IRAs/401ks). Then the company expanded into the specialization of college funding (i.e. planning, strategy, and paying the least possible for a high quality education), Risk Management First, exit planning for business owners, advanced planning (estate, tax, etc), and providing practice management and leadership training to other financial advisors, accountants and attorneys.
Kirk's Online Presence:
Today's Panelists
- Kirk Chisholm | Innovative Wealth
- Douglas Heagren | Pro College Planners