In Volatile Markets Like These, Wait For The Fat Pitch | New Harbor

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**Adam Taggart** (0:58)
Ted basically said, look, my job is just to not swing until the ball is in one of my sweet spots. And that makes a lot of sense. Now, Warren Buffett said that Ted Williams' problem is that he only had so many strikes. So in other words, he couldn't control the pitches that the pitcher was pitching to him. So of the balls that were in the strike zone, they all might not be in his perverted area. But if it's going to be a strike, he's got to swing. So Ted Williams had to swing at a bunch of pitches that weren't his absolute perfect pitch. Warren Buffett has said, as an investor, I'm like Ted Williams, except I have an infinite number of opportunities. I can sit on my hands for years if I need to. I'm only going to swing when it's right in my absolute sweetest spot. So Mike, you're basically saying, this is not a time right now where the market's delivering you lots of fat pitches. So just wait, there's no pressure to have to make swings now.

**Mike Preston** (1:58)
I think so.

**Adam Taggart** (2:05)
Welcome to Thoughtful Money. I'm Thoughtful Money Founder and your host, Adam Taggart. Welcoming you back here for another monthly check-in with the team here at New Harbor Financial. We started doing this a few months ago, and the reaction's been very positive, so we're continuing to do it. New Harbor obviously is one of the endorsed financial advisors by Thoughtful Money. They're here with me on this channel every week, oftentimes after one of the big interviews that we do this week, where they bring us up to date on what the market's done recently. But every once in a while, we like to do these monthly deep dives to get a sense for what's burning most brightly on their radars. And today will be no exception. So I'm joined as usual by lead partners, John Lodra and Mike Preston. Boys, good to see you guys.

**Mike Preston** (2:45)
Yeah, Adam, good to see you.

**John Lodra** (2:47)
Hello, Adam. Great to be with you again. Thanks for having us.

**Adam Taggart** (2:49)
All right, guys. Well, look, awful lot to talk about since the last time you guys were on.
Let's see here. The stock market, since the last monthly update of yours, stocks have rebounded quite dramatically. We have pretty much erased, I think we've officially erased all the losses that were around the tariff concerns and Liberation Day and all that. So where do you see us now, guys? I guess the big question I've been asking everybody recently, I'll just ask you, was the March-April drop just a correction in an otherwise intact bull trend or is May more of a bear market rally? Right? That's sucking people back in, getting them to feel really optimistic again, only to break their hearts.

**Mike Preston** (3:38)
Maybe I'll start answering that, Adam. And while I'm talking, I'm going to bring up a chart to talk to that. Right now, it looks like it was just a blip, honestly. But I don't think we could say for sure until we make new highs. We had a really sharp correction, a 21% peak to trough correction, and the rebound has been incredibly sharp. So you should be able to see that chart now. Now the S&P 500 daily chart. Right here, it might be hard to see this vertical line as the beginning of the year. So we were actually down 20% or so almost on the year, and it was like 21% peak to trough. And we have now come all the way back. So here we are right now at 5900 Seems to be a kind of a digestion level. But there's been some big movers here. I believe back here this big gap up was a China deal headline. And then yesterday was the headline that we weren't going to have, at least immediately, tariffs on the European Union. I think that we postponed a month or so or something like that. And then that was a big gap up. So we're sitting here at 5900 on the S&P. The all-time high was back here in the beginning of the year on roughly the mid-end of February at 6147