Here's How to Handle a Tough Market

I began my career working at the now-infamous Lehman Brothers... My first job on Wall Street was working there on the fixed-income syndicate desk, which was responsible for selling new bond issues. If you're not familiar with the history of Lehman Brothers, it was considered one of the great bond houses like Salomon Brothers. The […] Not rendering correctly? View this e-mail as a web page [here](. [Empire Financial Daily Weekend] Here's How to Handle a Tough Market By Enrique Abeyta --------------------------------------------------------------- [Bezos, Zuckerberg, Cuban, and Gates are in. Are you?]( A groundbreaking new $30 trillion shockwave is taking the crypto world by storm, and the smart money is making moves. But the real story is the tiny $2 crypto situated at the forefront of this story. Forbes even went as far as saying that the tech behind this class of coins is going to change your life. [Click here to see the $2 coin leading the way](. --------------------------------------------------------------- I began my career working at the now-infamous Lehman Brothers... My first job on Wall Street was working there on the fixed-income syndicate desk, which was responsible for selling new bond issues. If you're not familiar with the history of Lehman Brothers, it was considered one of the great bond houses like Salomon Brothers. The fixed-income syndicate was the nexus of the entire operation, as all banking fees came from those operations. Although few knew it at the time, Lehman Brothers still had partners – similar to the way Goldman Sachs (GS) operated. I was lucky enough to work on a desk that had several of them, and my mentor at the time was a gentleman named Brad Jack. Brad would go on to become the head of investment banking at Lehman Brothers and (unfortunately) passed away much too early a couple of years ago. For my first summer on Wall Street, though, he was my idol! Although we grew up worlds apart – he was an Irish guy from San Francisco, and I was a Mexican from Phoenix – we both grew up poor. Brad was brash and sometimes abrasive but whip smart, and he was a very straight shooter. He was tough on the younger employees, but I think he took a special liking to me because – unlike the other summer interns – I didn't back down. If I had something to say, I would say it to him – albeit respectfully. One of the most memorable conversations of my entire Wall Street career took place on the last day of my summer at Lehman Brothers. --------------------------------------------------------------- Recommended Link: [Billions Pouring into the Next Big Industry]( Major investors are taking note – and the legend who bought Amazon at $48 and Apple at $0.35 is [pounding the table on one $4 stock](. --------------------------------------------------------------- Brad asked me to walk him to his car, and as we walked through the parking lot, he told me the following... That Wall Street (and investing) was a very unusual and surprising business. In a year where you thought you were perfectly positioned to make a killing – you likely would get fired! During another year when you thought things were OK and it was just going to be normal – you might make your greatest fortune... He told me his key: Stay alive! He said that if I did things the right way – by being smart, working hard, and being honest – over time, I would make a lot of money working on Wall Street. The timing and magnitude of this success might be difficult to know, but with the right effort, it was an almost certainty. This advice has served me well and (unfortunately) turned out to be truer than I ever would have thought! Some of the years when I thought I was going to crush it, I ended up out of a job by the end of the year. Other years when I thought things were just going to be OK, I crushed it. Through time, I followed his advice and worked smart and hard and never lied. I worked very hard to be honest, not only with others but also with myself. The result is that over time, I was able to make enough wealth to provide for my family and our future. I've also built a career that can make this a reality for decades to come. Brad's advice is still a good parable for investors today... Recently in my Empire Breakthrough Investor and Empire Elite Growth newsletters, we did a position-by-position review of every single investment. In doing so, we focused on some of the incredible opportunities that we've seen emerge, but we also focused on staying alive. We called this the "upgrade trade," when you go through your portfolios and decide if you own companies that may not make it through a period of heightened economic volatility. The good news is that there are a ton of high-quality businesses with strong balance sheets and that are generating free cash flow that are down 50%, 70%, or even 90%! While these companies were overvalued and may have struggled with the transitions in the economy, they are not going out of business. Many of the more distressed companies will likely survive... But why bother taking the chance? Take the losses on those types of positions and reallocate your capital to these high-quality opportunities. As my mentor Brad Jack said to me all those years ago – just stay alive! In the investment world, if you do so and do it the right way, eventually you will reap the rewards... Generational wealth will be gained and lost in the coming months... And understanding one simple income strategy could be the determining factor. The sad part is, most people still believe that if they just hang on through the volatility – without being proactive or making a change – the markets will return to normal... and every loss will be recovered. Unfortunately, that's a costly mistake – not just in the short term, but for years to come. If you're still relying on the investing comfort zone you've been using for years, it will only guarantee that you'll get left behind when the economy inevitably recovers. In a special presentation, I share the only way to get reliable profits in a downturn... Get the details [right here](. Regards, Enrique Abeyta June 25, 2022 If someone forwarded you this e-mail and you would like to be added to my e-mail list to receive e-mails like this every weekday, simply [sign up here](. © 2022 Empire Financial Research. All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from Empire Financial Research, 601 Lexington Ave., 20th Floor, New York, NY 10022 [www.empirefinancialresearch.com.]( You received this e-mail because you are subscribed to Empire Financial Daily. [Unsubscribe from all future e-mails](