June 15, 2021

What About Speculation?

Phil Albitz, CFP®
Phil What About Speculation

Hi Everybody,

It’s that time we send out our every other month email blog. We try our best to provide interesting and timely information. We get a lot of good feedback on this method of staying in touch with you. We appreciate the comments.

I’m going to talk briefly about what’s going on in the stock market right now. It appears that there is a tremendous amount of speculation going on at this time. If you only watch the financial news networks, you are flooded with stories about crypto currencies swinging wildly in price, SPACs and NFTs catching big bids and then catching no bids. Some individual headline making meme stocks going up and down 50% in a day. Exciting right?

I don’t know but it does give people something to talk about. While this enthusiasm is indeed happening, it is a relatively small corner of the financial markets. And while some people are making a lot of money, there are other people who aren’t as fortunate. But that’s the market and when you speculate you take your chances. At Albitz/Miloe, we prefer the investment side of the equation but sometimes that might be boring…generally effective, but yes, it can be dull.

The major indexes have been calm and strong this year. The year isn’t over yet but if they just maintain a modicum amount of the calmness we’ve seen, then this will end up being a pretty good year. I am reminded though of the old adage: “Don’t say it has been a good day until nighttime.” Anyway, back to the speculation theme. We have clients who at times like to speculate. That is not a problem as long as they understand the risks. Those of you who know us, know that we do our best to make the risk/reward equation clearly understandable.

Over the years, I’ve learned that most people say they understand risk. But when I’m sure a client truly understands risk is after risk hits and I see how they react to it. At that point, it is clear to everybody.

I’m going to close this video out with a comment I heard and want to pass on to you. It goes like this: If asked how to get rich quickly: “I can’t tell you how to get rich quickly. But I can tell you how to get poor quickly, and that’s by trying to get rich quickly.” I like that sentiment because it is so true. That’s a good one to remember and if you have kids, remind them of that.

Anyway, until next time I’m Phil Albitz. Thanks for watching.

The views stated in this letter are not necessarily the opinion of Cetera Advisor Networks LLC and should not be construed directly or indirectly as an offer to buy or sell any securities mentioned herein. Due to volatility within the markets mentioned, opinions are subject to change with or without notice. Information is based on sources believed to be reliable; however, their accuracy or completeness cannot be guaranteed. Past performance does not guarantee future results. Investors cannot invest directly in indexes. The performance of any index is not indicative of the performance of any investment and does not take into account the effects of inflation and the fees and expenses associated with investing.

Phil Albitz

CFP®

Phil Albitz is a veteran Financial Advisor and Chief Investment Portfolio Manager for our Greater Value Accounts. Phil is also a CERTIFIED FINANCIAL PLANNER® and has been registered in the securities business since 1982. His strength is in stock market analysis, portfolio design, risk management and retirement income strategies. Phil works closely with our clients to help them meet their goals and objectives in a personal and professional manner. He is an avid sports fan and spent many years coaching his two sons, Clete and Vance, in basketball and baseball. In his free time, he enjoys playing with and watching his six grandchildren as they grow and mature. Phil was born and raised in Southern California and resides in Torrance with his wife, Velma. In 2024, they celebrated their 48th year of marriage.

Insights

Enjoy access to our continuously updated library of insights and educational resources.

1Phil Blog Article October

Under the Big Top

Hi everybody, I hope you had a great summer. Today I’m going to talk about something that’s been in the news quite a bit and, to an extent, what is driving the financial markets right now. Yes, we know about the upcoming midterms, the geopolitical chaos and the worries about AI running

Vance Screenshot 2026

Retirement Doesn’t End Your Paycheck. Here’s How to Build Your Own.

For forty years, a paycheck showed up every two weeks. When you retire, the paycheck doesn’t have to end, but you have to build the new one yourself. This article covers how we do that, and why it can feel harder than people expect. Two kinds of security While you’re working, your

1 22594 calculator 1516869

Taxes, Taxes, Taxes

Income and Payroll Taxes Have you ever looked deeper into all the taxes you pay? While tax discussions typically focus on the major players of Federal and State income tax, looking deeper can be eye opening. Since rates can vary by income, let’s consider an individual in CA making $100,000 per year.