What's up! It's episode 76 of Payne Points of Wealth and we are wondering if every strategist and economist will be wrong. Probably! Today we're going to talk about what the sentiment is on Wall Street and what investors are thinking right now. Hint, hint...they're very negative on the economy and the stock market. We're going to give you our contrarian view of what we think is going to happen over the course of the next couple of months, especially with interest rates going up now that the FED is officially raising interest rates for the first time since 2018. 

The conflict in Ukraine continues to go on. 

We're going to unpack a lot for you today and talk about some old-school wisdom. Bob's going to go back to the 70s’ at Merrill Lynch (when he had long hair and listened to Led Zeppelin) and tell you exactly what you need to think about philosophically when it comes to the markets. Let's hop to it. We got a great show today. 

• Geopolitical conflict is not as damaging to the market as you’d think [1:23]

The one thing that we've been stating every week is that we're in an economic boom, no matter what those strategists and economic gurus tell you. At the end of the day, we have an abundance of jobs, and wages are going higher. People are NOT dialing back their spending. Even with oil prices skyrocketing it's not going to stop them from spending, especially now that the economy is full-blown reopened. No one cares about COVID anymore or at least not enough to stop them from living life. We've learned to live with it. These are all big, big drivers for economic growth.

We should write an article every week, "If things are so good, why do I feel so awful?" Because after you look at the media or watch the news you're like, oh my gosh, things are so bad. But meanwhile, the US house's net worth is 150 trillion with a T. We're the wealthiest we've ever been in the history of the country. 

Here’s a list of Bob Farrell’s 10 rules that are still true today. Check out the episode to hear a breakdown of our favorite ones!

1. Markets tend to return to the mean over time

• John Templeton following Bob-isms he didn’t even know about!

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