Is It Time To "Sell The Rip"? | Lance Roberts & Adam Taggart

**Lance Roberts** (0:00)
You're gonna have these nice counter-trend rallies to reduce risk into, hedge your positions, raise a little bit of cash, kind of navigate volatility. And I think that continues to be the message here until we eventually kind of get to a market low.

**Adam Taggart** (0:22)
Welcome to Thoughtful Money. I'm its founder and your host, Adam Taggart, welcoming you here at the end of another week, featuring my good friend, the Rockum Sockum Portfolio Manager, Lance Roberts. Lance, how you doing?

**Lance Roberts** (0:34)
You know what? I don't think many people in your audience are probably old enough to remember Rockum Sockum robots.

**Adam Taggart** (0:39)
So. You know, I think most people probably do, or they will if they see it. And you know, folks, I'll put a little picture up here on the screen. But yeah, Rockum Sockum, because, you know, right now, that's sort of the theme of these tariff, you know, battles between the US and China right now. And we're sort of stuck in this will they, won't they push, pull, you know, headlines back and forth. Trump thinks the deal is going to get done. China, no, we're not even talking. Trump, I'm going to put more tariffs on them. China, well, maybe we'll exempt some of your products. So it feels very much like, yeah, being opposite the table from your opponent there clicking little buttons with your Rockum Sockum robots. Also, it's a nod back to your your pugilistic MMA days, Lance.

**Lance Roberts** (1:25)
Exactly.

**Adam Taggart** (1:25)
There you go. All right.

**Lance Roberts** (1:27)
Back in the day before USC actually made money.

**Adam Taggart** (1:31)
Sure. OK.

**Lance Roberts** (1:32)
The legacy of the legacy of my family was being professional athletes before they paid any money.

**Adam Taggart** (1:38)
So basically, you're saying Conor McGregor owes you a big debt of gratitude for what he's made, and he should probably cut you some slice of his winnings.

**Lance Roberts** (1:45)
He should definitely cut me in just like, you know, my dad was a professional tennis player back in the fifties and sixties with Pancho Gonzalez and those guys. He had to hitchhike his way to tournaments to get there. And now, you know, these guys are making millions of dollars a year playing tennis.

**Adam Taggart** (1:59)
So you played for like a $50 pot back then?

**Lance Roberts** (2:02)
Pretty much the case. Yeah. So, you know, it's just interesting. Wow.

**Adam Taggart** (2:07)
Pacho Gonzalez. That's a name I haven't heard in a long time.

**Lance Roberts** (2:10)
Like I told you, it's like, you know, back in the days when we had to fight dinosaurs on the way to school. So it's funny, I was doing that just real quick. I was doing an interview with Charles Payne on Wednesday of this week. And he put up this chart. He said in the 22,252 trading days since 1929, the number of stocks that traded positive in one day has only occurred like seven times in that period. And so when he came to me, he said, so Lance, what do you think about that? I said, well, having lived through all those days.

**Adam Taggart** (2:44)
You know, we call that seasoned experience, right? That's the right way to spend that.

**Lance Roberts** (2:51)
So real quick, I got an email this week that was, you know, questioning our conversations that we have on the show. It's like, oh, it's all pre-scripted. You and Adam have had these discussions beforehand and have mapped all this out. So y'all have this debate that goes on. And I just, you know, you don't tell me anything. When we're on this show, I don't know what you're going to ask me or where this thing is going. We're just having a conversation. So, you know, because it's because, you know, the joke with you is, is like, oh, I wrote it. I wrote an article about that. Well, the reason I wrote an article about that is you told me to write an article. That's not the way this works.

**Adam Taggart** (3:28)
No, it is anti the way this works, which is why I laugh. Not only do I not prepare you, Lance, not only do I not even know what we're going to talk about until I create my list, you know, like five minutes before we get on air. But I know that if I tried to reach out to you, you wouldn't even listen to me. Probably. Yeah, no. So folks, what you see here on the show every week is the sausage getting made in real time. So look, the markets have recovered a little bit, right? We've had about a five plus percent bounce or so from the latest bottoms.