Investing Recommendation...Patience and Caution

**SPEAKER_1** (0:01)
Welcome to the Money Tree Investing Podcast. Stock market, wealth, personal finance, value stocks. Invest in your life.

**Kirk Chisholm** (0:11)
Hello, Smart Money Tree Podcast listeners. Welcome to this week's show. My name is Kirk Chisholm, and I'll be your host. So today, I'm joined with Phil Weiss. Hey, Phil.

**Phil Weiss** (0:18)
Hey, Kirk, how are you?

**Kirk Chisholm** (0:19)
Doing well. Having a post-Father's Day hangover. How was your Father's Day?

**Phil Weiss** (0:24)
I will tell you that my Father's Day got postponed until next week. Oh, because my wife has an aunt who lived in Toronto who passed away.
And her family decided that this past weekend was the weekend we do a celebration of her life. So she and I went to Toronto and we talked to all our kids and said, we're just going to change the calendar this year, and we're going to celebrate Father's Day next year.

**Kirk Chisholm** (0:47)
Nice. I do find it interesting how we as a culture really don't have way grief. You look at other cultures, other times, even way back, people had these weird processes, but it was a process for grief and we as a culture just don't know how to grief, which causes a lot of problems when it comes to families, when it comes to money. You and I deal with this all the time, but I always tell people, look, every time someone's ever died, someone thinks there's gold buried in the basement, someone else took it. Every single time, I'm sorry, one time it didn't happen, one time. But realistically, it just doesn't happen because everyone's fighting over something. The funny thing is, it's never the gold. It's always something else that came from childhood, this misplaced grief, this misplaced problem that when I was younger, you used to beat on me. Okay, that was 50 years ago.
But the problem is, this is how people deal with grief, they attack each other.
But it's a problem, some people should be aware of it, and you think, oh, that will never happen to me. It does, it happens to everybody, virtually everybody. Anyway, but I do like the idea of celebration life.

**Phil Weiss** (1:59)
One thing that I thought was really cool, so when she passed away, it was in March, and we were in Ireland. And my wife's aunt had always wanted to go to Ireland, but never gone.
And so the Jewish religion, when you go visit the cemetery, you put a stone on the headstone, a rock on the headstone to show that you were there because it lasts instead of flowers and all that. So because this happened, my wife had a rock that had a little bit of shine or glisten to it, that she picked up in Ireland and went to the grave site yesterday before we came home. She put the stone on the headstone because it was like bringing Ireland to her aunt's and she never actually made it. I guess that was a nice little touch.

**Kirk Chisholm** (2:46)
I didn't realize that that's why people put stones on top of the headstones. Interesting.
Although I have driven by Jewish hermitories and I haven't seen a lot of stones there. Does everyone do that?

**Phil Weiss** (2:56)
I don't know. I mean, it may only be certain parts of Judaism that do that because I don't know that I remember it from when I was growing up. And my wife's family is from the Middle East, so they're Sephardic Jews. My family is from Europe, so we're Ashkenazi Jews. And it might be that it's a Sephardic custom because I don't remember doing it when we were kids, so it's possible that it's just a Sephardic custom.

**Kirk Chisholm** (3:19)
Yeah, I know there was a cemetery near my town growing up. There were two blocks. One went north to south, one went east to west.
And I don't know which one was which, but I know one of them was a Jewish cemetery. I don't remember stones on the headstones, but of course, I wasn't looking too closely as I could be wrong. Yeah. Anyway, we're entering the summer months where things are not as exciting, not as many things going on as we've been talking about for the last few weeks. Our words of the summer are patience and caution for good reason. The markets have gone up quite a bit, but actually in the past, pretty much since mid-May, so about a month, the markets have basically gone sideways. They've been going up and down a lot. They're basically sideways for the past month, which is timely for what we've been saying, patience and caution. Hard to say whether that's going to continue, but the technicals of the market show that it's strong possibility that this is a continuation pattern, that it's working off the energy of the markets going up so fast, and eventually it'll start to take off higher. At the moment, I'm still in the patience and cautious camp. I don't think it's worth probabilistically taking big bets right now. If you're going to invest, you invest small, aim small and miss small. But there are times to be a pig, and that was that one.