096 Owen Schrum: Crypto, The Fed and Other Things Not Said

About Fun With Annuities Episode #96

When you are one of the top personal money managers in the country, you have access to some of the top minds in the financial world.  Owen Schrum’s status allows him to have conversations with the movers and shakers on Wall Street, which he then uses that insight to the benefit of his main street clients.  I have him on my “Fun With Annuities” podcast.  I want my clients and listeners to access the best financial minds, including his brain.

A long time ago, I was fortunate enough to be partners with Owen at Dean Witter and Morgan Stanley…where we managed individual clients’ money at a very high level.  I can honestly say that he taught me pretty much everything I know about the markets.  He now runs his firm (www.schrumpw.com) and continues to be a priceless resource for me ongoing.  One of the hardest decisions I’ve ever made was leaving Morgan Stanley and starting my firm, The Annuity Man.  I had to do something to satisfy my entrepreneurial spirit, but I miss interacting with Own daily as we did at Dean Witter/Morgan Stanley.

Full disclosure, Owen manages a discretionary account for my wife and me for the non-annuity part of our portfolio.  It’s like having Michael Jordan playing on your basketball team.  I feel very comfortable with the ball (i.e., my money) in his hand.

During this podcast, Owen broke down what you need to know in 2022 to manage these volatile times.  With over three decades of experience, he has seen real market drops and chaos.  As they say in the wild west, he has been to this rodeo before.

We discussed current interest rates, and Owen predicted how many interest rate hikes you will see this year and in 2023.  You will not believe what he said!  He also addressed what that will mean for stocks, bonds, mutual funds, ETFs, and markets.  His prediction on how these projected rates hikes will affect the economy was shocking as well.

If there was ever a need for professional financial advice, it’s right now.  I would encourage you to set a time with Owen to see if he will accept you as a client.  Does he charge a fee?  Yes.  Is his fee worth every penny?  Yes.  You get what you pay for, and remember that most financial advisors have never even seen a down market.

Owen and I covered many topics during this podcast, and you might need to listen to it twice or take notes while listening.  It’s that good.  Enjoy!

"We’re going back to an era where diversification is king. You need to have different asset classes, different sectors, different size stocks. You need to be diversified." —  Owen Schrum.

Brief Bio on Co-host: Owen Schrum

Owen Schrum, President of Schrum Private Wealth Management has been around for a while almost as long as me so he's seen many market cycles and helped his clients succeed through all of them. He's one of the select few financial advisors to successfully earn the prestigious Certified Investment Management AnalystSM, CIMA® designation. He's someone who's deeply passionate about helping people achieve a level of predictability and financial security that helps them live life well. I have come across many financial advisors over the years, and Owen is among the smartest. You might have seen some of his columns in US News and World Report, but he also has an interesting blog I suggest you check out. You can also get more information on Owen and Schrum Private Wealth Management on their website or YouTube channel.

In this episode, The Annuity Man and Owen Schrum discuss:

• Correction and volatility in 2022
• Blockchain and cryptocurrency
• What’s causing supply chain problems?
• The most critical time for investing

Key Takeaways:

• We will see a big increase in volatility this year and at least two corrections in 2022. Corrections are when the market goes down 10% or more and then corrects itself.
• Blockchain technology is legit, but cryptocurrency is a risk-asset class; it has no stored value. It’s a way for people to trade something.
• Outsourcing products overseas is dangerous. A disruption in their area could cause huge supply chain problems.
• The most critical time investing is the three to four years before you retire and the three to four years after you retire. You can’t take a chance on luck when you retire.

Fun With Annuities® Podcast is hosted by America’s Annuity Agent®, Stan Haithcock, The Annuity Man®. Hear brutal annuity facts with no sales pitches from the top independent agent in the country, licensed in all 50 states. Author of 7 books, Stan dives deep on all annuity types and strategies. It’s fun, learning the contractual truths on how annuities actually work and if they’ll fit your personal retirement lifestyle.

Listen in on how you can be livin’ the reality, not the dream®. Listen and subscribe on Libsyn, Stitcher,Apple Podcasts, Google Podcasts, Amazon Podcasts, and Spotify.