Get Out Or Buy The Dip? | Lance Roberts

**Leanne** (0:00)
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**Lance Roberts** (1:00)
This is why over the last couple of weeks, we talked about reducing risk in our portfolio. We took profits and stuff.
We added to some defensive names in the portfolio because we were starting to get concerned about both the length of this advance as well as the very low volatility we were having. And then we talked about the negative divergence in breadth, as well as the negative divergence in relative strength, all signaling that we were about to have a corrective phase. So that's why we had reduced risk and rebalanced some positions. So we're now in that phase. But overall, despite those little dips, you probably want to be buying dip, and this one included, you probably want to buy these dips going into your end.

**Adam Taggart** (1:45)
Welcome to Thoughtful Money. I'm Thoughtful Money founder and your host, Adam Taggart, welcoming you back at the end of the week for another weekly Market Recap featuring my good friend, the Entomological Portfolio Manager, Lance Roberts. Lance, how are you doing?

**Lance Roberts** (1:58)
I'm doing fine. How are you today?

**Adam Taggart** (2:00)
I am doing great. It's great to be back on the program. Hope all is well.

**Lance Roberts** (2:03)
Yes, everything's doing very well. So yeah, good to be here. All right.

**Adam Taggart** (2:08)
Well, I went with Entomological, which maybe the scientists in the audience will know that that stands for, of and having to do with insects. We're hearing a lot of talk about cockroaches right now in the economy and the financial system. So we'll get to that in a bit. A couple of quick things though. So folks, if you're watching this video the day it's going live, if you're watching it when it goes live, we are just starting in parallel to this, the Thoughtful Money Fall Online Conference. Actually, if you still want to watch, you can still jump in early on in the conference. Just go to thoughtfulmoney.com/conference, buy your ticket, you'll get immediate access into the live event. It's a 10-hour event. In fact, it might be a 10-plus hour event. I got to figure out how to shave some time off. But folks, it is going to be fantastic. Just a tremendous faculty could not be more timely given what's going on in the world and the markets right now. If you're watching this later than that, if you go to that same URL, thoughtfulmoney.com/conference, you can purchase the full replay of the event after it's done. You'll get everything. You'll get all the presentations, all the live Q&A, all the archives from the live chat, and all the resources that were shared by the faculty members. Anyways, that's going on right now in parallel. Lance, I'm going to sleep for like three days straight after this.

**SPEAKER_8** (3:24)
You can probably.

**Adam Taggart** (3:26)
I also want to say last week, while you were busy with your wife, and Michael Leibowitz sat in for you, we had to record a date early because of my schedule. I made just a huge karmic error of saying, hey, Mike, well, we're recording here on Thursday, so folks, we're going to be missing one day of the week. Hopefully, nothing happens in the markets on Friday, and the markets heard that and said, hey, buddy, here, hold my beer.

**Lance Roberts** (3:52)
Yeah, exactly.

**Adam Taggart** (3:53)
We had a 2 percent down day in the S&P, biggest drops of the year. Anyways, there's lots to talk about this week.

**SPEAKER_9** (4:00)
Yeah, absolutely.

**Lance Roberts** (4:01)
Go ahead.

**Adam Taggart** (4:02)
Well, I'm trying to figure out where do we start. Do we start with cockroaches in the credit markets? Do we start with the whole trade war?