Peter Anderson, from Congress Wealth Management stops by

It is a hot day out there were going to be giving away. Ice coffee card your to do's call this number and -- be the number don't call it ADV 2052263. When yourself. Cardinals gave you more than one nice copies its author and analyst for welfare wealth are right. You know you have and admire evidently only 339 it is -- I think I'm in love with. Which I hope it's. After. I'm sure you do any. Alien. And -- you -- we asked the question earlier in the program. Guy best in our best investment that you've ever made 603 says my best investment was the 1984. Mercedes billions 300. Diesel worst investment you made was going to law school. If -- -- -- lawyer I tend to agree there just hear your rants butler's. You know not the lawyers have a -- it there's a reason rulers have bad reputation in -- not just me and I don't think -- you know that would -- level poll question. What is your opinion of 88 -- experienced -- If you defense lawyer. That's not the worst person. I. -- I agree he is knee if so many times when you see. Frivolous lawsuits. Filed in excessive fees charged in and I think that's what. The Genesis of them having a bad reputation. I think that's where comes for people feel like they got screwed. Will -- -- real eager to -- an extra points that's reputation happens. Six -- and it says my husband and I agree with Berry about lawyers we've always said lawyers make the laws to benefit lawyers in its troops and he looked. I mentioned that 60% of -- it. Is comprised of attorneys to -- numbers like 34%. House new orders the became became regulars -- -- politics. And then they make the laws to benefit their bodies. Anyway let's let's go to our friend at Peter Anderson from congress while management joining us today Peter welcome to the show argued one. I'm doing pretty well today thanks. Hey we've had three down days in a row three down days of more than a hundred points it doesn't happen an awful lot is this a buying opportunity -- the bigger beginning of a larger correction Peter. Well you know I think it is -- buying on torture anybody have to be very careful right now you know it's definitely not as stock pickers market we've heard that. Tired phrase over and over again in the past where you'd get rewarded. For finding these jams that are undiscovered and you have stock that. You know you'd figure out. Before everybody else. What will turn the stock around Perry right now that isn't getting rewarded well we're working very hard to find stocks like that. -- know you've got -- conviction behind them. He would best and the market just isn't paying attention to that right now it's so spooked by what's going on in Europe. That correlations you know holing everything moved in lock step most stocks are moving. Completely in lockstep right now which kind of defeats the whole purpose and doing original research. I question for that I don't understand is. If the the volume of trading is very light even for the summer you know both things slowdown in July and August. This is inordinately lol is this the new normal was this something we should expect going forward. Well I take it endemic of the fact that a lot of people have lots. But there are into it he has right now about the markets you know we used to joke that August with the time and psychiatrists and mining and actors who go on vacation. That's not the case for at least the money managers like before. -- last targets that you remember lies one heck of Vermont where a lot of news came down the pike so I don't think it's on that but I think it's just the general retail investor that has said. I can't really understand what's going on now and I think that's actually in this state. Should not be involved in the market long term because you know if you. Otherwise what you're doing -- you're actually a closet market timer. And we all know what happens to market yeah -- -- by a retired art school defied traded into cash and drive myself crazy not to mention I think -- probably leave a lot of profits. You -- a lot of clients that way -- would how do we make money and I don't mean dude trying to benefit from from somebody else's problems but. I mean they they -- is a severe drought in the midwest it's going to have a major impact. On crop prices I I've talked to me in Indiana they're plowed under the core that the crops the corn crop. How to -- it had we make money on this Peter. That's a very tough thing to do you know ally in the past you would look at that as. On the upside is there any companies had that as an import. But now that added import price is increasing dramatically. That's not a bad to take so you have to look at industries where there would actually benefit. From -- the higher prices and NAFTA talk quantify it right now and you know this is all cyclical anyway. I mean what we're really talking about. What you're really asking when -- strip but only if there is what's the weather going to be like you believe we all know how difficult that is predicted -- And you know it's kind of like that you've got to do three things a lot to make a decision you have to decide -- to get out of holding. We're gonna go with that money and then went to come back about three steps you have to take and I don't know about you but. I'm not that Smart he'd get periodic re right. And that's why -- -- most people if they have investment plan is that situation never -- has changed. He just we have to kind of grit -- -- in -- go through that stage now because we do have a high confidence that things will come back. If they always mean you look at history investing in the behavioral aspects -- it. And whether or not we're talking about a trowel to. -- the Euro Wall Street always. Give those things to worry about it and we can not just take ourselves on the -- -- we have to look at what's happening on the positive side in the a lot of good things stock prices are we are allies in many cases. India is a good buying opportunity as I mentioned -- -- that segment as long as you're careful you'll understand. What you're getting into. Rate you may have to hold it for awhile you know yeah that which is by Asian buy stock in the -- wanna hold great -- -- -- on the shore and on the company now. Well you know the other thing that's happening is the average holding period now if you look across the industry. Dramatically dropped stocks which also reflects our lack of patience. And long term discipline. Which I think you can use -- your advantage you know after 101000 feet above all this craziness and you have. So where outlook and can be rationalized it and you pick stocks that you know so long term outperform. It's kind of -- do ignored -- -- that noise and just focus on whatever your target right -- is. All right Peter thank you very much for joining us appreciate your time. Thank you that's Peter Anderson from congress wealth management joining us on the financial exchange.