{"id":12738,"date":"2026-07-07T07:00:11","date_gmt":"2026-07-07T12:00:11","guid":{"rendered":"https:\/\/www.cainwatters.com\/digitalblogs\/?p=12738"},"modified":"2026-07-01T08:58:17","modified_gmt":"2026-07-01T13:58:17","slug":"wealth-podcast-ep-295","status":"publish","type":"post","link":"https:\/\/www.cainwatters.com\/digitalblogs\/wealth-podcast-ep-295\/","title":{"rendered":"Risky vs. Safe in Today&#8217;s Market &#8211; Ep. 295"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"12738\" class=\"elementor elementor-12738\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"has_ae_slider elementor-section elementor-top-section elementor-element elementor-element-ba71d94 elementor-section-boxed elementor-section-height-default elementor-section-height-default ae-bg-gallery-type-default\" data-id=\"ba71d94\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6359606f ae-bg-gallery-type-default\" data-id=\"6359606f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-57c3115b elementor-widget elementor-widget-heading\" data-id=\"57c3115b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Navigating investment \u201crisky\u201d and \u201csafe\u201d choices in uncertain markets<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5bfdabd3 elementor-widget elementor-widget-text-editor\" data-id=\"5bfdabd3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div><span class=\"TextRun SCXW102758288 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW102758288 BCX0\">In this episode of the Accumulating Wealth podcast, hosts Judson Crawford and Hunter Satterfield discuss the complexities of\u00a0<\/span><span class=\"NormalTextRun SCXW102758288 BCX0\">identifying<\/span><span class=\"NormalTextRun SCXW102758288 BCX0\">\u00a0risk in investments.\u00a0<\/span><span class=\"NormalTextRun SCXW102758288 BCX0\">They share insights from various managers\u00a0<\/span><span class=\"NormalTextRun SCXW102758288 BCX0\">regarding<\/span><span class=\"NormalTextRun SCXW102758288 BCX0\">\u00a0current markets, sectors that might be risky or safe, and how market trends\u00a0<\/span><span class=\"NormalTextRun SCXW102758288 BCX0\">impact<\/span><span class=\"NormalTextRun SCXW102758288 BCX0\">\u00a0personal financial planning.\u00a0<\/span><span class=\"NormalTextRun SCXW102758288 BCX0\">They dive into how perceived safe havens might not always be the best choice and how calculated risks can support long-term growth. The discussion includes how risk\u00a0<\/span><span class=\"NormalTextRun SCXW102758288 BCX0\">perception<\/span><span class=\"NormalTextRun SCXW102758288 BCX0\">\u00a0varies not just among investors but in day-to-day decisions as well.\u00a0<\/span><\/span><span class=\"EOP Selected SCXW102758288 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/div><div>\u00a0<\/div><div>Have questions or ideas for Hunter and Judson? Reach out at <a href=\"http:\/\/cainwatters.com\/wealth\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #33cccc;\">cainwatters.com\/wealth<\/span><\/a>.<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3fcc651d libsyn elementor-widget elementor-widget-shortcode\" data-id=\"3fcc651d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><iframe title=\"Embed Player\" src=\"https:\/\/play.libsyn.com\/embed\/episode\/id\/41911245\/height\/128\/theme\/modern\/size\/standard\/thumbnail\/yes\/custom-color\/0c2340\/time-start\/00:00:00\/playlist-height\/200\/direction\/backward\/download\/yes\/font-color\/FFFFFF\" height=\"128\" width=\"100%\" scrolling=\"no\" allowfullscreen=\"\" webkitallowfullscreen=\"true\" mozallowfullscreen=\"true\" oallowfullscreen=\"true\" msallowfullscreen=\"true\" style=\"border-width: medium; border-style: none; border-color: currentcolor; border-image: initial;\"><\/iframe><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7ff1b82f elementor-widget elementor-widget-heading\" data-id=\"7ff1b82f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">WHAT YOU\u2019LL LEARN<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1371ef4d elementor-widget elementor-widget-text-editor\" data-id=\"1371ef4d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"none\">How market uncertainty affects investor decisions<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">The influence of consumer behavior on investment risks<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Importance of personal risk tolerance in financial planning<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Insights from investment managers on market segments, including consumer discretionary spending, tech hardware, real\u00a0estate\u00a0and utilities<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">Role of diversification in risk management<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6ddc9d54 elementor-widget elementor-widget-heading\" data-id=\"6ddc9d54\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Questions Answered in this Episode<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fcdf678 elementor-widget elementor-widget-text-editor\" data-id=\"fcdf678\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b><span data-contrast=\"auto\">What makes an investment risky?<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">High variability and dependence on market trends can increase risk.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">How do investment managers view current market risks?<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Consumer discretionary, tech hardware, and\u00a0leveraged\u00a0companies are viewed as riskier.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">What sectors are some considering \u201csafe\u201d right now?<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Utilities, transportation, and diversified portfolios are seen as stable.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-89df578 elementor-widget elementor-widget-heading\" data-id=\"89df578\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Key TakEaways<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1548d46e elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"1548d46e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"3 4 18 14\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M9.55 17.2a1.2 1.2 0 0 1-.85-.35l-4.9-4.9a1.2 1.2 0 1 1 1.7-1.7l4.03 4.03 9-9a1.2 1.2 0 1 1 1.7 1.7l-9.85 9.87a1.2 1.2 0 0 1-.83.35z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Risk varies across sectors and individual preferences <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"3 4 18 14\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M9.55 17.2a1.2 1.2 0 0 1-.85-.35l-4.9-4.9a1.2 1.2 0 1 1 1.7-1.7l4.03 4.03 9-9a1.2 1.2 0 1 1 1.7 1.7l-9.85 9.87a1.2 1.2 0 0 1-.83.35z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">High inflation impacts investment safety <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"3 4 18 14\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M9.55 17.2a1.2 1.2 0 0 1-.85-.35l-4.9-4.9a1.2 1.2 0 1 1 1.7-1.7l4.03 4.03 9-9a1.2 1.2 0 1 1 1.7 1.7l-9.85 9.87a1.2 1.2 0 0 1-.83.35z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Diversification minimizes ignorance-related risks <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"3 4 18 14\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M9.55 17.2a1.2 1.2 0 0 1-.85-.35l-4.9-4.9a1.2 1.2 0 1 1 1.7-1.7l4.03 4.03 9-9a1.2 1.2 0 1 1 1.7 1.7l-9.85 9.87a1.2 1.2 0 0 1-.83.35z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Market trends require adaptive strategies <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4cfe7cce elementor-widget elementor-widget-heading\" data-id=\"4cfe7cce\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Who's this episode for?<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-56b6f72e elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"56b6f72e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"3 4 18 14\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M9.55 17.2a1.2 1.2 0 0 1-.85-.35l-4.9-4.9a1.2 1.2 0 1 1 1.7-1.7l4.03 4.03 9-9a1.2 1.2 0 1 1 1.7 1.7l-9.85 9.87a1.2 1.2 0 0 1-.83.35z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Investors exploring market opportunities <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"3 4 18 14\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M9.55 17.2a1.2 1.2 0 0 1-.85-.35l-4.9-4.9a1.2 1.2 0 1 1 1.7-1.7l4.03 4.03 9-9a1.2 1.2 0 1 1 1.7 1.7l-9.85 9.87a1.2 1.2 0 0 1-.83.35z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Financial advisors advising on risk management <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"3 4 18 14\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M9.55 17.2a1.2 1.2 0 0 1-.85-.35l-4.9-4.9a1.2 1.2 0 1 1 1.7-1.7l4.03 4.03 9-9a1.2 1.2 0 1 1 1.7 1.7l-9.85 9.87a1.2 1.2 0 0 1-.83.35z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Business owners managing financial risk <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"3 4 18 14\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M9.55 17.2a1.2 1.2 0 0 1-.85-.35l-4.9-4.9a1.2 1.2 0 1 1 1.7-1.7l4.03 4.03 9-9a1.2 1.2 0 1 1 1.7 1.7l-9.85 9.87a1.2 1.2 0 0 1-.83.35z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Individuals assessing personal risk tolerance <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-73c46d0 elementor-widget elementor-widget-heading\" data-id=\"73c46d0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">ABOUT THE HOSTS<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6717ddbe elementor-widget elementor-widget-text-editor\" data-id=\"6717ddbe\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #003366;\"><a style=\"color: #003366;\" href=\"https:\/\/www.cainwatters.com\/hunter-satterfield\/\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline;\"><strong>Hunter Satterfield &#8211; CPA &amp; Partner<\/strong><\/span><\/a><\/span><\/p><ul><li>Financial Advisor with Cain Watters &amp; Associates since 2007<\/li><li>Chief Investment Officer<\/li><\/ul><p><span style=\"color: #003366;\"><a style=\"color: #003366;\" href=\"https:\/\/www.cainwatters.com\/judson-crawford\/\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline;\"><strong>Judson Crawford &#8211; CPA &amp; Partner<\/strong><\/span><\/a><\/span><\/p><ul><li>Financial Advisor with Cain Watters &amp; Associates since 2004<\/li><li>Public speaker, New associate mentor, Marketing Committee member<\/li><\/ul><p>Reach Hunter and Judson here: <a href=\"https:\/\/www.cainwatters.com\/wealthpodcast\/\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #33cccc;\">cainwatters.com\/wealthpodcast\/<\/span><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2e0c315 elementor-widget elementor-widget-heading\" data-id=\"2e0c315\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">About the show<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6d5bcad9 elementor-widget elementor-widget-text-editor\" data-id=\"6d5bcad9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The Accumulating Wealth Podcast helps business owners and professionals make smarter financial decisions through insights on tax strategy, investing, and long-term wealth planning.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-113dee92 elementor-widget elementor-widget-heading\" data-id=\"113dee92\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Additional Resources<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-418a9619 elementor-widget elementor-widget-n-accordion\" data-id=\"418a9619\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;default_state&quot;:&quot;all_collapsed&quot;,&quot;max_items_expended&quot;:&quot;multiple&quot;,&quot;n_accordion_animation_duration&quot;:{&quot;unit&quot;:&quot;ms&quot;,&quot;size&quot;:400,&quot;sizes&quot;:[]}}\" data-widget_type=\"nested-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"e-n-accordion\" aria-label=\"Accordion. Open links with Enter or Space, close with Escape, and navigate with Arrow Keys\">\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-1090\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"1\" tabindex=\"0\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-1090\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Podcast video <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chevron-up\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M240.971 130.524l194.343 194.343c9.373 9.373 9.373 24.569 0 33.941l-22.667 22.667c-9.357 9.357-24.522 9.375-33.901.04L224 227.495 69.255 381.516c-9.379 9.335-24.544 9.317-33.901-.04l-22.667-22.667c-9.373-9.373-9.373-24.569 0-33.941L207.03 130.525c9.372-9.373 24.568-9.373 33.941-.001z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chevron-down\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div class=\"has_ae_slider elementor-element elementor-element-6d067327 e-con-full e-flex ae-bg-gallery-type-default e-con e-child\" role=\"region\" aria-labelledby=\"e-n-accordion-item-1090\" data-id=\"6d067327\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-36f5614 elementor-widget elementor-widget-text-editor\" data-id=\"36f5614\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><a href=\"https:\/\/youtu.be\/Kob2U-pKpxo\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration-line: underline; color: #33cccc;\">Podcast Video<\/span><\/a><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-1091\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"2\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-1091\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Full transcript <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chevron-up\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M240.971 130.524l194.343 194.343c9.373 9.373 9.373 24.569 0 33.941l-22.667 22.667c-9.357 9.357-24.522 9.375-33.901.04L224 227.495 69.255 381.516c-9.379 9.335-24.544 9.317-33.901-.04l-22.667-22.667c-9.373-9.373-9.373-24.569 0-33.941L207.03 130.525c9.372-9.373 24.568-9.373 33.941-.001z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chevron-down\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div class=\"has_ae_slider elementor-element elementor-element-32cc6b62 e-con-full e-flex ae-bg-gallery-type-default e-con e-child\" role=\"region\" aria-labelledby=\"e-n-accordion-item-1091\" data-id=\"32cc6b62\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-33098935 elementor-widget elementor-widget-text-editor\" data-id=\"33098935\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"auto\">Welcome to the Accumulating Wealth podcast.\u00a0I&#8217;m\u00a0Judson Crawford. And\u00a0I&#8217;m\u00a0Hunter Satterfield. We are CPAs, wealth advisors, and partners at CWA, a financial services firm here to help you navigate the decisions you face every day.\u00a0Today, we&#8217;re talking about something every investor thinks about, especially when markets feel uncertain: what&#8217;s actually risky and what&#8217;s truly safe?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Because in investing, the biggest risk is not always where people assume it is, and what feels safe on the surface is not always the best long-term move.\u00a0We&#8217;ll\u00a0unpack how to think about risk in the market, where investors can get tripped up, and how to make decisions that support both confidence and long-term growth.\u00a0Let&#8217;s\u00a0get into it.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Okay, before we get started, Judson, of course this is in no\u00a0means\u00a0investment advice.\u00a0Folks,\u00a0what\u00a0we&#8217;re\u00a0going to\u00a0talk about here,\u00a0we&#8217;re\u00a0not\u00a0going to\u00a0mention specific names or anything like that, but\u00a0we&#8217;re\u00a0going to\u00a0be talking about different sectors. But this, again, is not investment advice. We\u00a0don&#8217;t\u00a0recommend you take this and\u00a0trade on\u00a0it in any way. So\u00a0now that\u00a0that&#8217;s\u00a0done, Judson,\u00a0let&#8217;s\u00a0go.\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Okay, so Hunter, before we talk about risk further,\u00a0I&#8217;ve\u00a0got a questionnaire that\u00a0I&#8217;m\u00a0going to\u00a0gauge your level of risk, okay? Oh, boy. Oh, boy. And these are just quick yes and no answers.\u00a0You&#8217;re\u00a0going to\u00a0answer just what comes to you first, okay? Okay. And then\u00a0we&#8217;ll\u00a0assess your risk, and\u00a0I&#8217;ve\u00a0got one last question, okay?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So\u00a0if you go to a restaurant that you love and they have a special menu item that says, &#8220;Chef&#8217;s experimental special,&#8221; are you\u00a0going to\u00a0order it? No. Okay. You go to a theme\u00a0park, because\u00a0I know\u00a0you&#8217;re\u00a0a big theme park guy. You go onto to a smaller ride first to warm up, or are you going straight for the big boy? Straight for the big boy.\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Have you ever eaten something and\u00a0immediately\u00a0thought, &#8220;This could be a mistake,&#8221; but you kept going? On the July 4th episode last year, yes. That was forced, though. I\u00a0don&#8217;t\u00a0know if that counts. If something is significantly cheaper but has bad reviews, are you still tempted to buy it? 24-year-old Hunter, yes. Current age Hunter, no.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Would you take a job that could double your income but has a real chance of failing? No. If I give you $1,000 outside of Harrah&#8217;s Casino, would you put at least 50% on the first bet? I would turn around and walk away\u00a0immediately. That is not the question. No.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">I know the answer to this one, but if\u00a0you&#8217;re\u00a0in a pickup basketball game and\u00a0it&#8217;s\u00a0tied in the final seconds, do you want to take the final shot? 100%.\u00a0Yeah, we know I know this about you as well.\u00a0Have you ever ignored\u00a0an expiration\u00a0date and ate it anyways?\u00a0Absolutely. Really? Yes. I thought that would be a no. They&#8217;re just\u00a0suggested\u00a0dates, really. Okay.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Do you like trying apps or tech before anyone else has tested them? No. And last, would you start a business even if you had no\u00a0guarantee\u00a0it would make money? Yes.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So\u00a0let&#8217;s\u00a0see,\u00a0okay.\u00a0So\u00a0Hunter, you answered five yes and five no, which means\u00a0you&#8217;re\u00a0a calculated risk-taker. That sounds like\u00a0me. I agree. Indeed. You\u00a0like\u00a0upside, but you still like to sleep well at night. And\u00a0what&#8217;s\u00a0interesting about these is that while\u00a0they&#8217;re\u00a0kind of\u00a0goofy, each one also really is\u00a0kind of how\u00a0you make financial decisions for yourself, right?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So let me ask you this. Have any of these questions triggered something that reminds you of a risk\u00a0you&#8217;ve\u00a0taken in your real life?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Yeah. No, absolutely. I mean, I think\u00a0probably the\u00a0one that comes to mind most and is\u00a0probably consistent\u00a0with you as well is moving over to Cain Watters, right? I mean, we had a\u00a0very\u00a0known career path at our\u00a0previous\u00a0firm. There were steps you took. You climbed the ladder. You knew exactly what was\u00a0going to\u00a0be there when the time came, and yet neither one of us, from our perspective, neither one of us wanted that for our lives, and we came to a small CPA firm in a tiny office with a smaller team and I mean, that was a very&#8230; that was a straight up risk.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">I\u00a0don&#8217;t\u00a0even know\u00a0that\u00a0I could say it was calculated. It was just a straight up risk. I had many business mentors at the time that were like, &#8220;Hey, man, this is too risky.\u00a0You&#8217;ve got\u00a0two kids. I don&#8217;t think you can do this.&#8221;\u00a0But ultimately, I\u00a0knew that if I bet on myself, which is\u00a0probably what\u00a0you would say as well, it would\u00a0ultimately pay\u00a0off. But\u00a0that&#8217;s\u00a0probably the\u00a0biggest risk that I ever took and just\u00a0kind of\u00a0crossed\u00a0my fingers and said, &#8220;I hope it pays off.&#8221;<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Yeah, and for me, 22 years later,\u00a0I&#8217;m\u00a0still not sure. You know? I think\u00a0you&#8217;re\u00a0doing okay.\u00a0Yeah,\u00a0we&#8217;re\u00a0all right.\u00a0No\u00a0I think that&#8217;s a great point, but I think, again, going back to this, when we&#8217;re talking with our clients, when we&#8217;re dealing with our clients on a\u00a0day-in, day-out basis, we&#8217;re really dealing with risk\/reward in almost every decision, right?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Absolutely. I mean, if\u00a0there&#8217;s\u00a0not risk in a decision, and\u00a0I think oftentimes people\u00a0think risk means\u00a0it&#8217;s\u00a0going to\u00a0go down, right? I mean, but if you think\u00a0as\u00a0a simple example of a casino, whether you put it on red or black, I mean,\u00a0that&#8217;s\u00a0a risk\u00a0you&#8217;re\u00a0taking and it could go up, right?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">I mean, it just, all risk is, is this, like, variability of outcomes or this uncertainty of outcomes or this unknown of outcomes. But if\u00a0you&#8217;re\u00a0going to\u00a0take any risk, if you refuse to do so,\u00a0you&#8217;re\u00a0not going to have really much reward, right?\u00a0That&#8217;s\u00a0right.\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And\u00a0I think that\u00a0is not just investing. I think\u00a0that&#8217;s\u00a0building a business. I think\u00a0that&#8217;s\u00a0taking a new job. I think\u00a0that&#8217;s\u00a0getting married. I think\u00a0that&#8217;s\u00a0having children. They all come with risks, but where we are on the risk\u00a0spectrum\u00a0I think varies just so heavily from person to person.\u00a0Absolutely.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Absolutely, and as you were just talking, I was thinking about, like, some of the day-to-day things that we may not think about risk\/reward with our clients, that we may not think about risk reward but absolutely are.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">I was recently having a conversation with a client about hiring, and it was like, do I go with this individual that has 20 years of experience and the cost is a lot higher, or do I go with this new person that I&#8217;m going to have to train more, the cost is lower, but the upside may be greater? They may not be stuck in their ways, right?\u00a0Yeah.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">That&#8217;s- And that example, it translates near perfectly to investments, right? It translates to building your business, to your point, buying a piece of equipment, opening a new location,\u00a0bringing on\u00a0an employee, to your point, doing\u00a0a new marketing\u00a0campaign, all of it.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">It&#8217;s\u00a0all a part of this bigger equation. And\u00a0I think we\u00a0just think so much it&#8217;s, &#8220;Oh, it&#8217;s just investment.&#8221; And we&#8217;re\u00a0going to\u00a0talk a lot today about investments, but also how that spills down into the rest of our financial plan because ultimately our job as financial advisors when we are meeting with our clients is helping them understand the risk, when the risk is right to take, when it&#8217;s probably not right to take and just guiding them, and then\u00a0ultimately\u00a0they make the decision.\u00a0Absolutely.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And I think that when, like you said, when they\u00a0ultimately make\u00a0the decision, I think\u00a0it&#8217;s\u00a0so important for each of us to really understand our own risk tolerance, our true risk tolerance, right? I mean, I\u00a0think for\u00a0you and me, we&#8217;ve been doing\u00a0this long enough with our clients that we pretty well know our clients&#8217; risk tolerance, right?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So,\u00a0let&#8217;s\u00a0say a new investment\u00a0comes\u00a0up. You\u00a0sort of know\u00a0who you can\u00a0go to\u00a0with this investment, and who\u00a0probably\u00a0doesn&#8217;t\u00a0fit their profile, right? For sure. But I think if the clients can understand that about themselves,\u00a0it&#8217;s\u00a0going to\u00a0be easier to make some of those decisions that come up.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Yeah.\u00a0Early on in my career with clients, we would give them different questionnaires and whatnot and try to gauge risk.\u00a0Now, I mean, when you&#8217;ve gone to dinner with them, flown to their town and hung out with them, sat in meetings here in our office for years, you pretty much know them, and you gauge the risk on small things, like where they choose to take vacations, how they choose to provide for their children, whether they went on a rollercoaster, right? Like, I mean, all those small things I think pour out to what their\u00a0risk\u00a0tolerance is and where they should be in the midst of a broader spectrum.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Now,\u00a0I think what\u00a0happens, though, is as investors, we tend to think, &#8221; Oh,\u00a0there&#8217;s\u00a0no risk if I\u00a0go do\u00a0this. I&#8217;m\u00a0going to\u00a0go do it\u00a0because,\u00a0everybody says invest 100% in the S&amp;P 500.&#8221; And I think\u00a0that&#8217;s\u00a0just flawed. We\u00a0don&#8217;t\u00a0align the risk where we have in the rest of our life with our investments, and\u00a0I&#8217;ve\u00a0never understood that, and\u00a0it&#8217;s\u00a0trying to get people to, &#8221; Hey, Dr. Smith, you\u00a0don&#8217;t\u00a0need to take this risk.\u00a0You have already prepared adequately. Why would we\u00a0go do\u00a0that? Why wouldn&#8217;t we de-risk from this\u00a0investment?&#8221;<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">That&#8217;s\u00a0right. And really what it comes down to when you talk about, like, bad example, which is like I just\u00a0want to\u00a0do 100% S&amp;P 500 because it&#8217;s worked recently, or because what I&#8217;m seeing online or my friends are doing or whatever it is, that really hearkens back to how we use allocation for risk, right?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Because yes, we are taking,\u00a0essentially in\u00a0a\u00a0way,\u00a0we&#8217;re\u00a0taking a certain\u00a0portion\u00a0of your investments and putting them 100% S&amp;P 500.\u00a0Absolutely. And\u00a0we&#8217;re\u00a0taking a\u00a0portion\u00a0of your\u00a0investments\u00a0and\u00a0we&#8217;re\u00a0putting it 100% small cap, right?\u00a0And that&#8217;s really what allocation is made up of.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">But I think\u00a0that,\u00a0we talk about this, we talk about these questionnaires\u00a0we&#8217;ve\u00a0done with our clients, we talk about allocation and how that correlates to their investments, but we wanted to take it a step further today, right? And talk a little bit about risk as we see it more from an economic standpoint and market segments and everything, because\u00a0that&#8217;s\u00a0also something that we assess on an ongoing basis for our clients, right?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Absolutely. And you know what?\u00a0It&#8217;s\u00a0interesting when\u00a0I&#8217;m\u00a0out traveling\u00a0and I&#8217;m\u00a0talking to people and I explain what our business is.\u00a0They&#8217;re\u00a0like, &#8220;Oh, that&#8217;s really interesting. Like, how do you think that on the broader market and your role as CIO or managing the investments for the firm or whatever\u00a0else?&#8221;<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And I say, &#8220;You know what?\u00a0It&#8217;s actually, I think it&#8217;s incredibly insightful because we work with 3,600 small businesses across the country.\u00a0We are seeing the pains and struggles well ahead of some institutional manager or some asset manager elsewhere sitting up on Wall Street.\u00a0We see it and feel it because we have emails in our inbox that people talk about, &#8220;Hey, this is something I&#8217;m dealing with.&#8221;<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">But this idea came up in my head because I was at this deal a few weeks ago, and one of the questions that was asked to a couple of our investment managers\u00a0are, &#8220;Hey, in this current market, what do you see as risky and what do you see as safe?&#8221; And\u00a0so\u00a0I was like, &#8220;Oh, this is\u00a0going to\u00a0be great,&#8221; because we had been wanting to talk about this topic for a while.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So\u00a0I sent an email out, listeners, to\u00a0all of\u00a0our different investment managers, and I said, &#8220;Hey, give me one risky thing right now and one safe thing.&#8221; And I\u00a0didn&#8217;t\u00a0ask for specific stocks. I\u00a0didn&#8217;t\u00a0ask for sectors necessarily. I just said, &#8220;Where do you see risk, and where do you see safety?&#8221; And I think\u00a0there&#8217;s\u00a0some threads that run through all of\u00a0this\u00a0so we\u00a0want to\u00a0talk about it.\u00a0It&#8217;s pretty fun.\u00a0Let&#8217;s\u00a0do it.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">All right. So first,\u00a0we&#8217;ll\u00a0start at\u00a0large\u00a0cap, and\u00a0we&#8217;ll\u00a0kind of\u00a0move\u00a0down the market. The first is one of our large cap managers, and he addressed the question as all cap equities, right?\u00a0So,\u00a0the whole U.S. stock market. And he said, Judson, risky to him was consumer discretionary, so pockets of the market where the consumer can be discretionary on\u00a0whether or not\u00a0they want to\u00a0purchase\u00a0things in there, right?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So\u00a0think about all the discretionary decisions you make every day, listeners, the\u00a0companies you buy from.\u00a0That&#8217;s\u00a0these types of companies. And he said, really the reason there is the consumer pressure, right, on just\u00a0CPI\u00a0and\u00a0I think that\u00a0comes through. We can talk about inflation hitting today.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">But\u00a0really,\u00a0he has seen weakening in that sector through the early part of this year. And higher for longer oil prices, what\u00a0appears to be\u00a0increasing inflation, I think are\u00a0going to\u00a0do some damage to this space.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">You\u00a0want to\u00a0rip through inflation today? Inflation. A\u00a0big important\u00a0number came out this morning.\u00a0That&#8217;s\u00a0right. Well,\u00a0yeah, CPI came out at 3.8%, y&#8217;all, and\u00a0that&#8217;s\u00a0the highest in over three years.\u00a0So\u00a0we&#8217;re\u00a0going back to that\u00a0time period\u00a0where we were seeing crazy numbers like seven and eight. PPI inflation is the highest in three and a half years at 6%. Energy is 18%, highest in four years. Gas, 30%, highest in\u00a0basically four\u00a0years as well.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And I think, again, these are the areas of the market\u00a0we&#8217;ve\u00a0been talking about with Brad during Story Time, where\u00a0there&#8217;s probably, even\u00a0if things settle down in the Middle East,\u00a0there&#8217;s\u00a0going to\u00a0probably be\u00a0more pressure. And\u00a0what&#8217;s\u00a0the through line to people&#8217;s actual businesses with this?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Well, I mean, to your point earlier, this inflation number is really just verification of what we&#8217;ve been hearing from clients all this year, right?\u00a0And what clients are hearing from both their staff and their patients, which is gas prices are\u00a0hurting,\u00a0grocery prices remain really high.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">I mean, you and I have talked about it.\u00a0Airlines\u2019\u00a0prices are double what they were six months ago. It just seems at every\u00a0corner,\u00a0prices are expensive, which makes, again, exactly what\u00a0you&#8217;re\u00a0talking about, for our clients, it makes that conversion of treatment harder, period.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Exactly, and\u00a0I think it\u00a0means that\u00a0you&#8217;re\u00a0going to\u00a0have to work.\u00a0You&#8217;re\u00a0going to\u00a0have to work for this, even if you\u00a0don&#8217;t\u00a0view it as discretionary treatment, if\u00a0the patient does, this is a sector\u00a0that&#8217;s\u00a0weakening everywhere. It\u00a0doesn&#8217;t\u00a0mean that people\u00a0aren&#8217;t\u00a0still flying. I mean,\u00a0I&#8217;m\u00a0seeing the lines on the news of people\u00a0checking in\u00a0in Heathrow and how long the lines are.\u00a0So,\u00a0people are still going, it&#8217;s\u00a0just\u00a0they&#8217;re choosing where their dollars are\u00a0going to\u00a0go.\u00a0That&#8217;s\u00a0right.\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So\u00a0his answer to safe was transportation stocks and again, this goes to like asset-heavy transportation companies, right?\u00a0So\u00a0things that\u00a0they&#8217;re\u00a0not\u00a0going to\u00a0get disrupted by AI.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">They&#8217;re\u00a0not\u00a0going to\u00a0get disrupted near as much by things like consumer discretionary choices or whatever else it is, because you\u00a0have to\u00a0have certain things\u00a0in order to\u00a0get your life done.\u00a0So\u00a0I thought that was interesting.\u00a0Moving down\u00a0the cap stack to mid-cap, he said one of our mid-cap managers said tech hardware.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So\u00a0like fiber optics, memory, things that are basically needed to create all of the AI development we had. And he said\u00a0it&#8217;s\u00a0really because of the\u00a0high expectations\u00a0driven by the huge AI spend\u00a0I think\u00a0this is a really\u00a0great way\u00a0to segue on the risk topic.\u00a0He&#8217;s\u00a0not saying\u00a0it&#8217;s\u00a0going to\u00a0go down.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">He&#8217;s\u00a0just saying\u00a0it&#8217;s\u00a0risky, right?\u00a0Yeah. I mean, if AI pays out, then these tech hardware stocks will do fine.\u00a0He&#8217;s\u00a0just saying\u00a0there&#8217;s\u00a0added risk because of the unknown of where AI&#8217;s going.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Well, and he may not have answered the same way a year ago, because at that time, there may&#8230; again, maybe it was a little bit more than a year ago, but there wasn&#8217;t quite as much money put into it, and they weren&#8217;t quite the same level they\u00a0are\u00a0today.\u00a0That&#8217;s\u00a0what makes it risky is\u00a0kind of what\u00a0he&#8217;s\u00a0saying. Again,\u00a0you&#8217;re\u00a0right. And I think\u00a0that&#8217;s\u00a0an important thing to say about risk in general.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Whenever we talk about an investment being risky, it\u00a0doesn&#8217;t\u00a0mean it is going to go down. It\u00a0probably means, though, that it has a higher variability of, hey, it could really go\u00a0up\u00a0or it could\u00a0probably also\u00a0really go down. Right. And\u00a0what&#8217;s\u00a0interesting is, like, this sector,\u00a0we&#8217;re\u00a0not\u00a0allocating\u00a0away from it, right?\u00a0We&#8217;re\u00a0just making sure that we are risked appropriately because it is\u00a0a very good\u00a0sector overall.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So, his safety net was utilities. And\u00a0it&#8217;s\u00a0just interesting, right? Because those are those, like, core things we need in our life.\u00a0It&#8217;s\u00a0like that- Utilities, transportation, right? Exactly. The down the fairway stuff.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And\u00a0so\u00a0I thought that was very interesting as well. Okay, moving down even further into the small-cap space. And he said, one of our managers in the small-cap space said anything\u00a0that&#8217;s\u00a0got a ton of leverage and exposure to interest rates. And I think\u00a0that&#8217;s\u00a0what\u00a0we&#8217;ve\u00a0been talking about all year, especially given these interest rate numbers, Judson.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Inflation. We\u00a0ain&#8217;t\u00a0seeing a cut.\u00a0We&#8217;re\u00a0not seeing a cut.\u00a0Yeah,\u00a0we&#8217;re\u00a0not seeing a cut. Period. And small-cap businesses depend so much on interest rates staying low.\u00a0I&#8217;m\u00a0assuming\u00a0that&#8217;s\u00a0why\u00a0he&#8217;s\u00a0saying\u00a0that&#8217;s\u00a0a very risky space right now. Well, and I wonder, and I haven&#8217;t read anything on it but what your thoughts are is, hey, we&#8217;re not seeing a cut, but what does this look like as this inflation number goes up to this almost 4% what the chances are that we could actually see an increase?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Yeah,\u00a0they&#8217;re\u00a0unfortunately rising. And\u00a0I think that\u00a0is something that the market has not priced in. And it could be a big shock to the system. We will see, as the Fed has their next meeting post-Warsh, some of the language that gets included. If the language is starting to point toward that, we could see a little bit of instability in the market very, very quickly. 100%.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So\u00a0I mean, again\u00a0it&#8217;s\u00a0an area where\u00a0it&#8217;s\u00a0like, is he moving away from that? No,\u00a0it&#8217;s\u00a0just an understanding of, hey, anybody\u00a0that&#8217;s\u00a0got a ton of leverage right now and\u00a0has got\u00a0susceptibility where rates are going is a riskier area. His safer area was\u00a0underappreciated\u00a0earnings power, right?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And\u00a0we&#8217;re\u00a0going to\u00a0see that when we talk about our yield space too here in just a second.\u00a0Like,\u00a0good assets, good companies that have consistent secular growth.\u00a0It&#8217;s\u00a0not complicated,\u00a0right? I mean, that is an area in a\u00a0high-interest rate\u00a0environment in a high inflation environment that can be\u00a0very, very good\u00a0because you have a lot of pricing power.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Yep. One thing that it made me think about when you were talking about his risky, which, he said any businesses that are really dependent on leverage, I would say, for any listeners, clients or non-clients, this is something to really look at for yourself as well.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">If\u00a0you&#8217;re\u00a0highly levered right now or\u00a0you&#8217;re\u00a0having- if\u00a0you&#8217;re\u00a0struggling with your debt payments anything like that with these economic headwinds that we have,\u00a0there&#8217;s\u00a0no better time to talk to somebody about looking at that, right? Because you\u00a0don&#8217;t\u00a0want to\u00a0head into a time where your revenues get a little bit\u00a0more choppy\u00a0or start to have even more headway if\u00a0you&#8217;ve\u00a0got a problem with debt. So, I mean,\u00a0again\u00a0a great time to reach out to somebody to help out with that.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Yeah, I mean, if you look at these companies that are dealing with over-levered balance sheets or whatever else it is, I mean, those are some of the decisions they\u00a0have to\u00a0make. I mean,\u00a0you&#8217;re\u00a0seeing companies that have\u00a0invested\u00a0a ton in AI who are laying off workers.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">I mean,\u00a0they&#8217;re\u00a0just,\u00a0they&#8217;re\u00a0laying it off. And they might be saying, &#8220;Oh, it&#8217;s\u00a0because we&#8217;re getting efficiencies from AI,&#8221; but the reality is\u00a0they&#8217;re\u00a0probably doing\u00a0it to continue to keep their earnings where they need to be. Yep. And again, I think that&#8217;s a perfect through line into a personal financial plan because it&#8217;s like if you are over-levered, you have too much debt, you are going to have some very difficult decisions as we go into this next spot of,\u00a0\u201cmaybe I&#8217;m not flying to London this year.\u00a0Maybe it&#8217;s\u00a0a smaller vacation that\u00a0doesn&#8217;t\u00a0include flights.\u201d<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">We just had this weekend, we were planning to go to one of the coasts to see a ball game and sit on a beach just for a few days with the boys, and I just went and I looked at airline tickets and hotel prices. I was like, &#8220;That&#8217;s stupid. It&#8217;s just stupid.&#8221;\u00a0It&#8217;s\u00a0crazy.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So\u00a0we\u00a0stayed\u00a0middle of the country, flew for\u00a0$250\u00a0round trip, stayed for $250 in a hotel, had an amazing time, great memories with the boys, and that trip was 15% of what it would&#8217;ve cost otherwise.\u00a0Yeah. And\u00a0that&#8217;s\u00a0the type of decision-making that\u00a0has to\u00a0be done in these areas.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">You&#8217;re still making\u00a0memories,\u00a0you&#8217;re still having fun, but you have to de-risk in areas like that.\u00a0Yeah,\u00a0totally similar\u00a0thing, I was looking at vacation, and I de-risked from the St. Regis to the Ritz.\u00a0Yeah, and you just moved from the penthouse suite- Presidential suite.\u00a0Yeah,\u00a0yeah. I moved down to just a junior suite.\u00a0Yeah, well,\u00a0it&#8217;s\u00a0good for you.\u00a0I&#8217;m\u00a0trying to keep my boys in a good\u00a0headspace. I was alone, so you know.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">All right, so moving to just some of our yield portfolios.\u00a0I think this\u00a0is so interesting because our yield manager responded back and said, &#8220;Yeah, I mean, there&#8217;s risky areas where there could be credit losses. There&#8217;s safe areas where, hey, we&#8217;ve got really good, consistent opportunities, whether it&#8217;s energy or whatever else it is.&#8221;<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">But what I loved is\u00a0ultimately\u00a0he said, &#8220;We don&#8217;t see any risk on either space to our actual dividends getting paid out.&#8221; And Judson, for clients that are investing in the income yield space, which a lot of our clients do, it\u00a0doesn&#8217;t\u00a0matter what the stock prices do, right?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">It&#8217;s\u00a0kind of\u00a0the\u00a0whole point. Exactly.\u00a0Yeah. The income is consistent. And I think\u00a0that&#8217;s\u00a0the biggest thing, like him saying, &#8220;Hey, we don&#8217;t really see any of our dividends going away or decreasing, regardless of\u00a0risky\u00a0or\u00a0safe.&#8221; I love that answer. Yep. And I think\u00a0that&#8217;s\u00a0the real takeaway from the yield conversation. Yep.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Okay, so\u00a0Hunter, that was a good summary of what you got from our managers that are\u00a0managing in\u00a0the public sector.\u00a0We&#8217;ve\u00a0also talked a lot\u00a0on\u00a0this podcast this year or over the past year about the private markets.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Have you heard anything or gotten anything back on the private markets?\u00a0Yeah,\u00a0that&#8217;s\u00a0great.\u00a0So\u00a0I went to-\u00a0Let&#8217;s\u00a0talk\u00a0privates.\u00a0I went to private equity, private credit, and real estate managers very quickly.\u00a0Private equity was really interesting.\u00a0Risky was software, obviously. I mean,\u00a0that&#8217;s\u00a0a common theme right now.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">But\u00a0it&#8217;s\u00a0interesting. They said\u00a0it&#8217;s\u00a0also a potential opportunity, right? Because the comment that he made was AI and software are not necessarily zero sum. Meaning even if AI improves efficiencies,\u00a0you&#8217;re\u00a0still\u00a0going\u00a0to have software\u00a0that bundles itself around it, and so really understanding in the private equity markets, like how to navigate that.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">I love that because again, risk\u00a0doesn&#8217;t\u00a0always have to mean negative outcomes. It could also just be\u00a0opportunity\u00a0if\u00a0you&#8217;re\u00a0thinking\u00a0in\u00a0a nimble sort of tailored, nuanced approach on how to navigate those markets.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And then on the safe side great cash flowing assets. Yeah, I mean, down the fairway. That was a common theme. On the private credit side, he\u00a0kind of\u00a0copped\u00a0out.\u00a0It&#8217;s\u00a0fine. I\u00a0get\u00a0it.\u00a0He&#8217;s\u00a0like, risky is non-diversified, safe is diversified.\u00a0It&#8217;s\u00a0fine. I\u00a0actually really\u00a0like the answer because what\u00a0he&#8217;s\u00a0saying is what\u00a0we&#8217;ve\u00a0said before is\u00a0diversification&#8217;s\u00a0protection against ignorance, the Buffett quote.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And all\u00a0he&#8217;s\u00a0saying is we\u00a0don&#8217;t\u00a0know where the future holds, so we should\u00a0probably just\u00a0diversify. Yep.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And then last but not least in the real estate space, and we&#8217;re going to,\u00a0listeners,\u00a0we&#8217;re going to go even deeper on this. We&#8217;re actually going\u00a0have this real estate manager on to\u00a0talk through this, and it should be a really cool episode. He said safe is anything that matches demographics, right?\u00a0So\u00a0where demographics go, real estate goes, just by nature.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And you start thinking about the aging population in America. You start thinking about increasing student populations in colleges. You think about the cost of housing, so affordable housing. I love that. Like, go where the demographics go.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">That&#8217;s\u00a0great information, Hunter.\u00a0So\u00a0when you think about that, all right,\u00a0last\u00a0question before we wrap up.\u00a0Great information.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">You specifically asked these managers about today, where they saw risk and where they saw safety.\u00a0But can you talk a little bit about how you and the team over at Tectonic continually\u00a0monitor\u00a0this for our clients?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Yeah, absolutely. I mean, because thankfully we have these managers who are managing hundreds of billions, sometimes trillions of\u00a0dollars\u00a0and\u00a0they&#8217;re\u00a0doing a lot of this as well. But\u00a0it&#8217;s\u00a0all\u00a0about just\u00a0conversations, right? We have a process-oriented investment philosophy at Cain Watters that we\u00a0follow\u00a0tried and true.\u00a0So\u00a0it&#8217;s\u00a0just making sure that our team\u00a0that&#8217;s\u00a0managing money is following that investment philosophy. And if they are, if\u00a0it&#8217;s\u00a0diversified, and\u00a0it&#8217;s\u00a0finding\u00a0the places that we need to be, and\u00a0it&#8217;s\u00a0being indexed where we need to be, et cetera, et cetera, that\u00a0ultimately will\u00a0pay out in spades.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So\u00a0I do a whole lot of work to get to this spot, but\u00a0ultimately a\u00a0lot of times we\u00a0don&#8217;t\u00a0do much because we know that if we stay process-oriented and system-oriented\u00a0it&#8217;s\u00a0the most important thing.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Good conversation.\u00a0Yeah, it was awesome.\u00a0And hopefully this is super helpful, listeners, on what&#8217;s going on in the broader macro, even though each and every one of you is seeing this on a day-to-day basis in your practice.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Think about, again, these threads and how they go from the macro of the economy down to your business, but then also how they go to your personal financial plan and how you gauge risk that you take not just investment portfolio, but in your personal financial plan decision-making, whether it&#8217;s spending, whether it&#8217;s debt, whether it&#8217;s what you&#8217;re saving. I think\u00a0that&#8217;s\u00a0the biggest conversation from risky versus\u00a0safe.\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And in the next episode, we&#8217;re going to test Hunter&#8217;s real risk by bringing in expired milk and have him\u00a0testing\u00a0it.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">The best way to keep up with this is to subscribe to this podcast. That way, you never have to miss an episode, and you can go back and listen to all the others. If\u00a0you&#8217;re\u00a0enjoying us so far, leave us a review. If you have a question, comment, or suggestion for a future episode, drop us a line at cainwatters.com\/wealth. We really do answer these. And if you\u00a0want to\u00a0learn more about what we do when\u00a0we&#8217;re\u00a0not recording these episodes, visit cainwatters.com to see how\u00a0we&#8217;re\u00a0helping our over 3,700 clients reach their long-term financial goals.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-1092\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"3\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-1092\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Timestamps <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chevron-up\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M240.971 130.524l194.343 194.343c9.373 9.373 9.373 24.569 0 33.941l-22.667 22.667c-9.357 9.357-24.522 9.375-33.901.04L224 227.495 69.255 381.516c-9.379 9.335-24.544 9.317-33.901-.04l-22.667-22.667c-9.373-9.373-9.373-24.569 0-33.941L207.03 130.525c9.372-9.373 24.568-9.373 33.941-.001z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chevron-down\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div class=\"has_ae_slider elementor-element elementor-element-9fc48c0 e-con-full e-flex ae-bg-gallery-type-default e-con e-child\" role=\"region\" aria-labelledby=\"e-n-accordion-item-1092\" data-id=\"9fc48c0\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-625a87ba elementor-widget elementor-widget-text-editor\" data-id=\"625a87ba\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b><span data-contrast=\"none\">00:00<\/span><\/b><span data-contrast=\"none\">\u00a0&#8211; Risky vs Safe Intro<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">00:48<\/span><\/b><span data-contrast=\"none\">\u00a0&#8211; Quick Disclaimer<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">01:07<\/span><\/b><span data-contrast=\"none\">\u00a0&#8211; Risk Tolerance Quiz<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">03:12<\/span><\/b><span data-contrast=\"none\">\u00a0&#8211; Real Life Risk Story<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">04:15<\/span><\/b><span data-contrast=\"none\">\u00a0&#8211; Defining Risk Reward<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">06:22<\/span><\/b><span data-contrast=\"none\">\u00a0&#8211; Knowing Your Tolerance<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">08:50<\/span><\/b><span data-contrast=\"none\">\u00a0&#8211; Managers Market Takeaways<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">10:03<\/span><\/b><span data-contrast=\"none\">\u00a0&#8211; Large Cap Consumer Pressure<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">10:55<\/span><\/b><span data-contrast=\"none\">\u00a0&#8211; Inflation Check In<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">12:55<\/span><\/b><span data-contrast=\"none\">\u00a0&#8211; Mid Cap AI Hardware Risk<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">14:24<\/span><\/b><span data-contrast=\"none\">\u00a0&#8211; Small Cap Leverage Warning<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">18:04<\/span><\/b><span data-contrast=\"none\">\u00a0&#8211; Yield Income Perspective<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">19:01<\/span><\/b><span data-contrast=\"none\">\u00a0&#8211; Private Markets View<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">20:55<\/span><\/b><span data-contrast=\"none\">\u00a0&#8211; Monitoring Risk<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">21:54<\/span><\/b><span data-contrast=\"none\">\u00a0&#8211; Conclusion<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"has_ae_slider elementor-element elementor-element-6a5303d1 e-flex e-con-boxed ae-bg-gallery-type-default e-con e-parent\" data-id=\"6a5303d1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-17dbc3c1 elementor-widget elementor-widget-text-editor\" data-id=\"17dbc3c1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Have questions or ideas for Hunter and Judson? Reach out at\u00a0<a style=\"background-color: #00295b;\" href=\"https:\/\/www.cainwatters.com\/wealthpodcast\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: bold; line-height: inherit;\"><span style=\"text-decoration-line: underline; color: #33cccc;\">cainwatters.com\/wealth<\/span><\/span><\/a>. Don\u2019t miss an episode, subscribe and leave the guys a review on Apple Podcast, Spotify, or wherever you listen.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Navigating investment \u201crisky\u201d and \u201csafe\u201d choices in uncertain markets In this episode of the Accumulating Wealth podcast, hosts Judson Crawford and Hunter Satterfield discuss the complexities of\u00a0identifying\u00a0risk in investments.\u00a0They share insights from various managers\u00a0regarding\u00a0current markets, sectors that might be risky or safe, and how market trends\u00a0impact\u00a0personal financial planning.\u00a0They dive into how perceived safe havens might [&hellip;]<\/p>\n","protected":false},"author":50,"featured_media":12740,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[44,41],"tags":[],"ppma_author":[60],"class_list":["post-12738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth-podcast","category-featured"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Risky vs. Safe in Today&#039;s Market - Ep. 295<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cainwatters.com\/digitalblogs\/wealth-podcast-ep-295\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Risky vs. Safe in Today&#039;s Market - Ep. 295\" \/>\n<meta property=\"og:description\" content=\"Navigating investment \u201crisky\u201d and \u201csafe\u201d choices in uncertain markets In this episode of the Accumulating Wealth podcast, hosts Judson Crawford and Hunter Satterfield discuss the complexities of\u00a0identifying\u00a0risk in investments.\u00a0They share insights from various managers\u00a0regarding\u00a0current markets, sectors that might be risky or safe, and how market trends\u00a0impact\u00a0personal financial planning.\u00a0They dive into how perceived safe havens might [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.cainwatters.com\/digitalblogs\/wealth-podcast-ep-295\/\" \/>\n<meta property=\"og:site_name\" content=\"Cain Watters Blog\" \/>\n<meta property=\"article:published_time\" content=\"2026-07-07T12:00:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.cainwatters.com\/digitalblogs\/wp-content\/uploads\/sites\/2\/2026\/06\/CWA-Podcast-Template-1-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Judson Crawford\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Judson Crawford\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"44 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/wealth-podcast-ep-295\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/wealth-podcast-ep-295\\\/\"},\"author\":{\"name\":\"Judson Crawford\",\"@id\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/#\\\/schema\\\/person\\\/b9538da029ac6afcc305c7fd1198182d\"},\"headline\":\"Risky vs. Safe in Today&#8217;s Market &#8211; 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