Don't Chase This Rally | Lance Roberts

**Lance Roberts** (0:00)
If you missed this rally, I wouldn't buy here. I would wait for a pullback to a decent level of support, work off some of the short-term overbought condition to add exposure to your portfolio.
The rallies happened, it was very fast, it was very vicious. My point is that the market is going to give you another opportunity to invest capital if you miss this rally.

**Adam Taggart** (0:21)
Right. And what I'm taking from you is don't chase this right now.

**Lance Roberts** (0:25)
Yeah, you don't want to chase markets.

**Adam Taggart** (0:34)
Welcome to Thoughtful Money, I'm Thoughtful Money Founder and your host, welcoming you here at the end of the week for another weekly market recap featuring my good friend, the Anglophile and portfolio manager extraordinaire, Lance Roberts. Lance, how are you doing?

**Lance Roberts** (0:49)
Okay, I'm going to have to ask you, Anglophile, I do not know that word.

**Adam Taggart** (0:53)
That is somebody who is a big fan of England, and all things English, British. You were just over there in the UK last week. How was the trip?

**Lance Roberts** (1:04)
I am not a fan of all things British.

**Adam Taggart** (1:08)
Way to go. You just like totally insulted 4% of our audience here.

**Lance Roberts** (1:15)
No, I didn't say everything British. I just said not a fan of all things British. I do not understand mushy peas. First of all, I am not a huge pea fan to start with. But I don't understand why you mash them up. I just serve them with fish and chips and all kinds of stuff. So I am not a big fan of mushy peas. But no, the trip was great.
As I said before, my wife's aunt had gotten married to a British gentleman. And all of his family, his kids, everybody, they still live in England. So they had the wedding in the US. And then they had the reception at a place called Lake Windermere in England, which was on this really beautiful lake.

**Adam Taggart** (2:01)
Sounds fancy.

**Lance Roberts** (2:02)
Yeah, it was great. And so it's an old manor. It's like 200 years old. And everybody, there was like 40 people staying in this manor. And so we would have breakfast and stuff. You walk about a quarter mile into town. And there's a marina there with boats that go out on tours on the lake and all kinds of stuff. And then there's town. So we would just walk into town, have coffee, get a Danish, whatever, kind of do some window shopping. It was very nice. Weather was beautiful the whole time. We got very lucky with the weather. It was supposed to be kind of typical UK weather and raining, but it was absolutely beautiful blue skies. Best part of this whole trip was, is in the backyard. So you come out of the manor and there's this big kind of sitting area and it overlooks the lake. Well, on both sides of this lake are these, what they call mountains. They're just really, really big hills.
The lake is embedded inside of this kind of ravine with these hills on both sides of this lake. And the lake is very elongated. So like it's a 30-minute trip, you can get in a boat and 30 minutes away, there's another town you can go to and go visit and have lunch, then take the boat ride back.
So what's interesting though is that we'll be sitting out there and about every hour to hour and 45 minutes, there will be three Eurofighters come screaming low-level flight through this ravine. This is like Top Gun Maverick, right? Training for the mission. They would come through doing low-level flight training down this ravine across the lake. So you get this air show the whole time you're there. It was an absolute ball. I'm a military freak anyway. So I love, I think everybody else was annoyed by the sound.

**Adam Taggart** (3:41)
But I was going to say, I'm sure a lot of people like would totally ruin the pastoral tranquility of it. But Dexon here is rooting for it.

**Lance Roberts** (3:48)
It was great for me. I loved it. So but yeah, it was a lot of fun. But no, it was great. We took a train from London. We rode the train from London over to Grantham. We met our son there. He picked us up, drove us to Windermere. And so we just spent, it was mostly there to see our son and kind of visit the new family that we had met before.
So I now have a much bigger extended family I had no idea about. So but I thought one of the funniest things is that the last night, the Thursday night, one of the last nights we were there, they wanted to have a dress up party, like a costume party for everybody.