CIO Scott Martin Interviewed on Fox News 3.9.22

Kingsview CIO Scott Martin discusses the “fast market”, what’s been happening in oil pricing, and the volatility in commodities.

Click here to watch the video

Program:  Cavuto Coast to Coast
Date:  3/9/2022
Station:  Fox Business News
Time:  12:00PM

NEIL CAVUTO: Scott Martin, now Kingsview Asset Management. You know, Scott, I understand all those numbers very outline, but I always wonder about the support that Vladimir Putin has back home and he’s they’re not told much. I get that, but they can see what’s going on. They can see these McDonald’s that are soon to be all close Coca-Cola products that are soon to be all gone, Starbucks, that you know they’re not going to be able to get. Of course, if you want to spend, you know, fifty dollars for a cup of coffee, I exaggerate to make the point. Isn’t that the kind of stuff that would have a far greater impact on the average Russian wondering what the Hell’s going on than whatever banks are doing or whatever big Fortune 500 companies, you know, no longer trading on open central banks with them are doing.

SCOTT MARTIN: It’s more common. It hit its home. It hits Main Street right off the bat. Neil, I feel for these people not only because of what’s going on politically there, but because I mean, my goodness, if I got my Big Mac or chicken nuggets or my frou frou cappuccino taken away from me, I’d be upset. But you made something very important. As far as a point. We’re not sure what they’re being told, and I have a guess as to what they’re being told, and it’s probably not the truth. And so when you see these companies go away and it is a political statement on on their part, it’s the right move. As Gerry pointed out, it’s a few percent of revenue globally, so it’s not really that impactful. So it speaks maybe more volumes than it does actually in revenue numbers. But Neil, the people in Russia could be told a completely different story than really what’s going on. And so is they see restaurants move out. You got to think that maybe the Russian government, Russian officials find a way to turn this even against the Western world because they’re taking things away from the Russian people. At times, they much need them.

CAVUTO: Yeah, well, he’s blamed us naturalists interest for all of this, so maybe that’s the story they’re buying. You know, let me switch to the markets today. This Big Oil drop, of course, oil’s run up prohibitively double the price this year. I’m just wondering what you make of this reaction. There are extreme swings at the yesterday. For a while, we have better than 600 points of, especially when the president seemed to pivot on the idea of a total ban on Russian oil. Some might have interpreted that as a sign he could pivot on domestic production. But what had been a 600 point gain turned into a 170 plus point loss. What do you tell your clients with markets that have these huge swings?

MARTIN: I’m going to take your words earlier. It’s a fast market. And you mentioned crude today. I mean, Neil crude. Before the market opened yesterday, it was up over 130. So that’s a 24 hour move and about what? About 30 hours? That’s a move that’s big enough for a year, let alone a day and a half. So clients are nervous because of that because there’s not a lot of stability, there’s not a lot of forecasting that really can be relied on here. But what we tell our clients is that, look, we’ve got you in portfolios, we have you in positions that are geared towards that long term goal or even the short term goal, whatever it may be, and you reduce risk along the way, depending on how close you get to those goals. But we’re actually positioned to take advantage of some of this volatility in the commodities market. But to your point, it’s bleeding into other markets. I mean, this is totally bled into the bond market. It’s bled into equities. And so we just have to be prepared for good days and bad days. But just like all these other times that you and I have talked about on the shows now for gosh, to date us here decades, my friend, things do come back. The Sun does come up again, and it’s usually darkest before dawn, and I think this is no different.

CAVUTO: We shall see. Always good, Scott, thank you very much, Scott Martin.

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