Testing the alltime highs any day now but you still have to be selective folks im going to explain that to you meanwhile as biden climbs in the polls what does it mean for investors or will comments like these make it impossible for the democratic nominee to win in november . Were probably anywhere from 1015 of the people out there who are just not very good people. Charles ouch the 2. 0 and defunding maybe eliminating the police thats the latest rally call how will this play out in november and what will the police state actually look like . I wouldnt be around to find out but well ask President Trumps attorney, jenna ellis. Weve got a jam packed show for you on making money. Charles you know folk, i started on wall street in 1985 one of the first lessons that i learned is you listen to the message of the stock market and inform about the future of the economy, and in fact, probably better than any other source out there, and if youre wondering about whats the next six months are going to look like, a year even longer, you always look at the market and then really delve into the components for clues and this is not to say of course that the market does not make knee jerk moves based on emotions or over react to the downside or the upside, but daytoday activity has always been for it until recently, and now the stock market is always wrong when it goes higher, the market of course does telegraph much betterthanexpected unemployment report and of course, consensus got it all wrong. Now, the survey also though suggested that the job loss be temporary. The street didnt listen to that the adp number was much betterthanexpected and none of this matters to the folks providing individual investors with his and or advice and instead the market was up because well board millennials were just day trading. I asked everyone to do two things when this whole thing started falling apart. Do not take a loss of stock that youll regret later and try your best to make money on oversold market that was pricing , and now the market is still very selective and the economy is still fragile and the election will soon add another layer of complexity. Its called you want to take some profits but remember you cant make money in the stock market if you are not in the stock market. Joining me news rye bmo Capital Market chief strategist, brian b elsky. This is something, over and over again, when the market fell off that cliff in march, every news channel in the world wanted to give brian belsky on because he had been too bullish. You stood up and you stuck to your conviction, you stuck to your work, are you still as convinced . We are and thank you so much for having us. Its excessively humbling to be correct sometimes but guess what sometimes the market will humble you on the downside as well but i think it really speaks to your preamble in terms of the market is the best message of all and i think weve forgotten about that charles especially the last 20 years in this , i would call, the secular negativity that surrounds our business on wall street and we are so afraid to be wrong, we dont want to be right. We, needing consensus and i think we meet so many binary negative decisions in forecast in february and march and we kind of forgot that americas got the best companies in the world and oh, by the way theyve gotten Even Stronger through this and some of these deeply deeply negative consensus thoughts have traded the best buying opportunities in a generation whether or not you are pouncing on blood in the streets on the airlines or the hotels or the reit, or you are still playing the secular winners that were winners before covid, during covid and after covid, we still think that equities are the best place to be. We still think that north american equities including canada is going to be a great place to be the next three to five years as emerging markets and the rest of the world kind of try to right their ship on a fundamental basis so yeah, you need to be a fundamental investor, you need to look at companies, services, products, earnings, valuation, management, all of the stuff that you and i grew up in the 80s and 90s learning how to pick stock. Charles you know, to that point, dagen and i had a conversation on marias show this morning just the amount of fund flow out of domestically oriented mutual funds not just now but over the last few years it boggles the mind why people would use these products every single day. Tell their friends about these products every single day and somehow think they should be buying stock in a company they never heard of, dont know how to measure it, and of course, wall street is the one that leads the way with this all the time. Where does the disconnect come from . I think the disconnect comes from especially on the etf side charles quite frankly is is you buy because its easy to buy so you jump off the bridge because everybody else is jumping off the bridge . Thats the biggest problem i think with this whole notion of buying these instruments or not really understanding the multi assettype strategies that were in vogue if you remember a few years ago, and then you dovetailed into esg and what all that means is all these themes. The best theme of all are good Stocks Company goods and i think live by the rule if you dont know what that company does then stay away from it, and keep it really simple, stupid and buy those companies that you can actually understand and guess what . Weve got a lot of them here and a lot of them have been very transparent from the healthcare side of 5070 companies trying to chase down the vaccine whether or not its a drug company, Biotech Company or instrumentation company, i mean follow the trends and follow the news, but at the end of the day, you want to buy those companies again, that you understand what they do and those are going to be core parts of your portfolio for a long, long time. Charles yeah, the core parts of your life why not be part owner brian youre the best my man congratulations again, hope we have you back soon. I appreciate it thank you. Charles President Trump signing a bill to ease conditions Small Businesses have to meet in order to get those Paycheck Protection Program loans forgiven and just a short time ago, of course the president also praising todays blockbuster jobs report calling it the greatest comeback in american history. President trump i thought the number be a loss of 9 million jobs and it was a gain of almost 3 million jobs, ill go back to having the greatest economy anywhere in the world, nothing close, and i think well have a very good upcoming few months. Charles for more on this i want to bring in Senior Advisor to President TrumpKevin Hassett ive seen you making the rounds sin youve come back and you know, youve been cautious and optimistic but you have been cautious, so it feels like maybe even the white house agrees was caught off guard just how quickly how swiftly this economy is coming back. I would say that the only person in the white house that wasnt really surprised by these numbers was the president. You know the president has been super optimistic throughout and hes been even at times making a little bit of fun of me because im the one whose like oh, im really worried about the initial claims and so on but the thing is that the president s policies are working and we saw that today in the numbers that were really extraordinary. Think about it. The typical wall street economist missed todays number by 10 million. So were talking, you know, the miss is bigger than the population of a lot of states, right . Its just an astonishing astonishing bit of news, and we know why it happened too. It happened because the president and secretary mnuchin and the Economic Team designed policies to basically build a bridge for Small Businesses, 4. 5 million Small Businesses got loans from the government, so that they be there when the economy turned back on and they could bring their workers back and its happening way faster than we expected and dont forget, this is something you know better than anyone in fact you saw he quoted you. Youre going to put us all out of work on the economic advisors i think. Hes been watching your show but the fact is that the survey was early in the month. The 12th of the week of the 12th so actually now is, you know, were up against june, but if it were late in the month, imagine how good the numbers be and so i think that the june number is going to be Something Like this and it means weve hit bottom and were coming back way faster than, you know, anyone other than the president thought possible. Charles so the two other things i want to get to in a second with you kevin. The political station now of two thins, a second round, you know, and i think that we should probably go from calling it relief to stimulus but the second round of aid coming out of the federal government and i think youre right. The speed in which mnuchin put this together with the rest of the white house i think was the key. How do you keep that going when you have conservative economists saying enough is enough and then i want to ask you about the politicalization of todays number many people making light of the fact that the black Unemployment Rate ticked up of course they dont realize that 283,000 black americans got jobs last month but the median is going to drill in over and over again on negativity particularly when it comes to the black community so first, will there be another stimulus package . Yeah, there definitely will be but one of the things the that the president has instructed the team to do is to watch the numbers carefully, get as many realtime numbers as we can and have, you know, a menu of options for him thats conditional on how the economy is doing, and so if we have another bunch of job numbers like weve seen, you know, as going into july, then i could imagine it be a much different pace for a bill than if we had a whole bunch of months like april , and so the president is doing exactly the right thing which is he built a bridge that basically lasts until about the end of july, and so were going to use that time to monitor the economy and think about what the best policies are but im sure, there will be a phase iv deal because things like Liability Protection and so on that really has to happen. Charles right. And im sure you guys want to stay ahead. Thats what the key was. You dont want to linger too long. Just minutes ago are there specific plans other than the idea at the same time this all shifts to help the black community and other communities of this awakening if you will from Corporate America and others that maybe there should be some targeted help . Well yeah, theres been a whole bunch of targeted help since the president first got here, and thats why as you know , the African AmericanUnemployment Rate was the lowest on record as recently as january the jobs numbers actually did show an increase at almost 300,000 as you said, but i think that the policies that we have in place especially the opportunities of policy is something that has an enormous amount of potential going forward. There have already been specific policies but the general policies the tax cuts and the deregulation and everything made it so the Income Growth was higher for African Americans and unemployment was lower for African Americans so it was a much more just society in january then when President Trump took office. Charles january and february if people forget, Kevin Hassett, thank you very much. Politics are telling police no thanks they dont want their donations all of a sudden President Trumps attorney jenna ellis will give us a take on that but first, joe biden has channeled inner Hillary Clinton with his own deplorable moment and hes claiming up to 15 of americans are not very good people. At carvana, no matter what car you buy from us, you get the freedom of a 7day return policy. This isnt some dealership test drive around the block. Its better. This is seven days to put your carvana car to the test and see if it fits your life. Load it up with a weeks worth of groceries. Take the kiddos out for ice cream. Check that it has enough wiggle room in your garage. You get the time to make sure you love it. And on the 6th day, well reach out and make sure everythings amazing. If so. Excellent. If not, swap it out for another or return it for a refund. Its that simple. Because at carvana, your car happiness is what makes us happy. Robinwithout the commission fees. So, you can start investing today wherever you are even hanging with your dog. So, what are you waiting for . Download now and get your first stock on us. Robinhood. Do you think were as good as we can be as a nation . I dont think the vast majority of people think that. They are probably anywhere from 1015 of the people out there who are just not very good people. But thats not who we are. The vast majority of people are decent. We got to appeal to that and we have to unite people. Charles folks, thats the democratic nominee joe biden , hes saying that 1015 of americans are not very good people. Those biden remarks are widely criticized remarks by Hillary Clinton during the 2016 campaign in which he said that half of President Trumps supporters were called a basket of deplorables joining me is beverly halberg. I wonder when all of these folks are going to start calling you up because this seems like one of the worst selfinflicted wounds ive seen in a long time. How could a president ial candidate say that about the country he wants to lead . Well i think weve learned for a while that hes not good at communication. Hes been fumbling his way through this election, and frankly, i think the attack against joe biden are running themselves these days between what hes said and coming also a couple weeks ago lets not forget he said if you were a black american whose an undecided voter then you aint black. Look the Trump Campaign is going to use this and its really quite surprising that joe biden hasnt learned from Hillary Clinton, because many people s s comment was really the turning point in her campaign. Charles i agree, but here is the thing and its one thing to be an effective speaker and one thing to stay on point and be cognizant of the moment but another thing that maybe he believes that its in his heart and soul which really bothers me more than him fumbling. I agree with you and i saw one of the tweets you sent out earlier you were saying that you disagree with this internal poll ing of joe biden. I really think it was just off the top of his head. I agree with you its probably more like 1 of this country that are like truly dangerous to society but what joe biden is doing as well as many in our media, many of our elected officials we want to present this binary that youre either a good person or a bad person and they want to summit up based on who you vote for. So if hes going to lead with this division, if this is going to be about dividing americans out there which i fear is happening far too often these days, i actually think its a losing message for joe biden. Its not actually going to attract middle america. Charles im not sure, when this whole thing, the turning point happened like this , you know, when it was them versus us i know its effective. I know that it can lead to victory but it always seems to me to be a tarnished victory because youre left in a position of putting the pieces back together. I do want to switch gears also with you beverly and ill ask you about your oped in the washington examiner. You know, youve been really big on all of this with the socalled speech mobs, and now, what were sort of the same thing that youre talking about us versus them, putting neighbor against neighbor. Yeah, its really a shame what i hear from so many people they actually look at whats going on, they see the murder of george floyd and they say i want to help, but those of my friends who are wise as you know, im white myself often we feel like we dont know what to say so we are being criticized if were silent, if we speak up we dont speak up in the right way and i think part of this , are people who really dont want us to come together. There are Many Americans who say look, there is injustice we want to figure outd cops we solutions that help minorities in this country but we want to come to the table and have a productive conversation. My fear is that people actually dont want a productive conversation, my fear is that the people in the middle, that there are fringe elements out there who really just want to destroy any type of unity in this country, and i think were going to have to fight hard to fight against that. Charles yeah, theres a fringe element but there are also some longestablished institutions that stay in power as long as were at each others throats also. The element of fear is the calling card, always appreciate these conversations, with you beverly see you again soon have a great weekend. You too, happy friday. Charles all right folks. The push to defund the police is gaining a lot of steam in fact more cities are looking to cut funding President Trumps attorney jenna ellis willowing on that next also people are asking me if they should start selling because they are looking at recent polls that are turning against President Trump. Ive got the answers for you, the market implications of a Joe Biden White house, well be right back. The first and only full prescription strength nonsteroidal antiinflammatory gel available overthecounter. New voltaren is powerful arthritis pain relief in a gel. Voltaren. The joy of movement. New voltaren is powerful arthunlike ordinaryef in a gel. 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