Just How Much Should You Care About Dow 20K?

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... just how much should be a really care about Dow twenty thousand this is your money matters ... I ... the Journal thanks for listening this is your money matters from the Wall Street Journal ... joining us is Jeff Carmona is a managing partner at Cornerstone wealthy joins us from outside Charlotte North Carolina ... in the grand scheme of things ... just how important is down twenty thousand if I am an investor ... standpoint ... it's right more psychological ... than anything else ... a few of the Dow is right you know ... when you look at what the Dow ... is made up of you know we know that the job with a thirty two large US companies ... that the dollar weighted ... average ... it goes back to what it would establish an EP the late eighteen hundreds ... so it's probably not that that index ... for most investors because the global world we live and ... with no international soccer emerging market ... bonds to well you know from made up ... of looking at to pick out twenty covering it and I look at it more to psychological ... I think it ... the right that we build up around that is more than what actually did that to you ... given the fact ... that the one we've we actually get that point ... ALM ... so what what were talkin while talking with my client I really look at the kid that you've got twenty thousand leagues said ... psychological really wanna look at the underlying economy what's going on ... goals from your clients asking about down twenty thousand ... not that many advocates more ... if you enjoy media attention in charge of attention the key to the new ... baby from ... people listening in radio or TV ... they can enjoy the attention but we've been talking about it for awhile ... on the week ... after we made it before year-end ... cycle we get we headed ... of ... expected maybe a little bit of pullback all that ... we haven't had a high IQ but it's expected that probably in the next two weeks or so ... aam ... we make it if you look in the next week who knows but when that ... when I look at the bottom line really ... can't take that away really look at the underlying economy we do have some really good things going on while that always good to be issued out there there are seen to be more positive than negative right now ... is that ... were ... that is keeping the blue chips from hitting the twenty thousand mark ... ill right now it's the it's it's a little bit here and Congress week we started here we have a new Congress will have a new president ... I think a little bit of the backing off but maybe tax reform ... of the week so the other day when ... aam ... the comments were talking more about the ethics ... Committee for more then ... affordable Care Opal corporate tax reform or individual tax when income tax reform ... to take any I asked them what were some of the major campaign ... items that were discussed by ... then ... president ... of then candidate trial no present electro ... so I think it's taken me I off somewhat ... Hugh Hewitt pushing to get through and in Uganda ... to reopen settling ... into the big ones of corporate tax reform regulation reform ... aam ... we are looking repatriation of assets ... we can look at you from the infrastructure depends in all the thing affordable Care ... you all the things you in on ... some of the ones that go more prevalent in the market again would be corporate tax reform income tax reform could feel you could certainly Cayenne affordable care ... and regular and regulations ... go to that if we can't take on trade on those and that's where the market ... really took off surprisingly ... I think we look back after the election to everybody's surprise ... of the market reaction to finish ... test ... right after the election ... the initial reaction very positive and the continued momentum and positive into the year-end uneven ... you after a rate hike from the Fed in mid December ... certainly different from a year ago on December fifteen ... when the Fed raise rates in December fifteen for the first time we had to sell off into the urine and ... the market ... continued into the kiddo taking with the drop ... the legally bottom ... of the tournament ... early February time frame and then recovered from there ... we didn't see that the QE their second tour of market that dealt with ... better employment numbers that are he'll higher consumer confidence and sentiment ... improving GDP you actually start to keep rising inflation time to ... heal all positives ... that don't ... have led to the market running not just tied in knots that are not just the Trump rally ... the tothe of fundamental rally that is the ... lead by the move will ... he ... promises that were made and expectation to give them some reforms done ... Carmel ... on Cornerstone well with this new listening to your money matters from the Wall Street Journal ... thanks for listening everyone ... so test ... looking ahead to twenty seventeen where is the growth going to come from watery gonna have your eye on what sector were sectors ... will probably catch your eye the most ... sectors that were continuing to follow ... have really been one that we like ... to know ... that really falling correction and we ate we had a tale of two years last year where we had ... more defensive companies ... like utilities and consumer staples let them ... lead the way the first part of the year ... once we get to read that ... occurred a week after a correction in the market ... pullback but then recovered fairly quickly ... we ... were starkly start Hammerstein wrote ... cake ... take the lead ... and those sectors like technology ... financial has ... certainly taken off from the election ... energy ... so that over the direction the sectors we prefer ... aam we like to cap it like mid cap stocks in the U S especially with the information technology ... is it that we will be the typical be what you'd ... get to keep it tipping over here and think again ... Carbone managing partner at Cornerstone well thank you very much ... thank God ... just joining us from outside Charlotte ... and I'm John were Duncan this has been your money matters from the Wall Street Journal ... WSJ ... chance ... to sing and Sicily ...