• This week’s Market Alert focused on three major developments that could shape the investment landscape: the Federal Reserve’s latest stance on interest rates, the recent inflation report, and growing concerns surrounding technology stock valuations.
• Newly appointed Federal Reserve Chairman Kevin Warsh made it clear that interest rate cuts are unlikely this year, and additional rate increases remain on the table if inflation persists.
• While inflation came in higher than expected, we believe much of the increase is being driven by higher oil prices rather than broad based economic inflation, making this a situation we will continue to monitor closely.
• As geopolitical tensions begin to ease and energy markets stabilize, we expect inflationary pressures to moderate over time.
• One of the most important lessons this week came from the recent performance of SpaceX following its highly anticipated public debut.
• We previously cautioned against chasing the excitement surrounding newly public companies, and the sharp decline in SpaceX shares after an initial surge reinforces the importance of remaining patient and disciplined.
• History has repeatedly shown that buying into market excitement often exposes investors to unnecessary risk, especially when valuations become disconnected from fundamentals.
• While we remain optimistic about SpaceX’s long term potential, successful investing requires patience, thoughtful entry points, and avoiding emotionally driven decisions.
• As SpaceX becomes integrated into major market indexes, we expect to gain appropriate exposure through our diversified investment strategy rather than speculative buying.
• We also discussed the striking similarities between today’s technology market and the dot-com era leading up to the market correction of the early 2000s.
• Today, the ten largest technology and AI related companies account for an even greater percentage of the market than they did during the dot-com bubble, creating meaningful concentration risk.
• When a small number of companies drive a disproportionate share of market performance, investors should remain mindful of the potential impact if sentiment changes.
• History reminds us that periods of extraordinary optimism can often be followed by significant market volatility, making risk management more important than ever.
• That is why our Invest and Protect strategy continues to play such an important role in helping safeguard our clients from catastrophic market losses while remaining positioned for long term growth.
• Our philosophy has always been to prepare for the unexpected, because protecting your retirement is just as important as growing your portfolio.
• At Retirement Planners of America, our commitment remains unchanged: helping you make your money last as long as you do while giving you the confidence to enjoy living your second childhood without parental supervision.

Transcript:

Ken Moraif 

Ken Moraif 0:00
Hello, everyone, and welcome to our weekly market alert video for today, which is june 26 2026 And I am in the beautiful state of Colorado. I’m going to take you outside here and just show you, so we were having four. There were 30 fires that caused all this smoke, and you couldn’t breathe, and all of a sudden it rained like crazy. Look at this, you can see how it’s like everything. We got a lot of rain, and so today hopefully the sun will come out, shine on us, and we’ll have some blue skies. And there were 30 fires west of us, and the wind blows from the west towards us here in Aspen, Colorado. And so that creates a lot of smoke, and it’s unhealthy, but once the smoke clears, which I think the rain caused 30 of those fires. I think there’s 10 now this morning, so that’s good. So hopefully we’ll see some blue skies here. So thanks for being with me. So, what happened this week? Couple things: one is Kevin Warsh, or three things, actually. Kevin Warsh, who’s the new Federal Reserve chairman, had his first official meeting, and everybody was like waiting to hear what he had to say, and he came out swinging, baby. He said, “Man, we are not going to be lowering interest rates this year. So, kids, you can, you can put that one away. We’re actually potentially going to be raising interest rates if we have to, because inflation has picked up so much, and so that kind of was what we’ve been telling you was going to happen here. I mean, it’s kind of old news, but nevertheless it’s new news when the Federal Reserve chairman says it. The other thing that happened this week is that, you know, the inflation number came out and it was high. Yeah, that is a beautiful house behind us, isn’t it? I’m invading somebody else’s territory here. And so the inflation numbers came in, and they were high, but it’s an oil-driven story in our view, and with the apparent agreement going on with the Strait of Hormuz and with the oil embargo and whatever else is going on over there abating, then inflation should come down, and so we think that it’s an overwrought story, this whole inflation thing, so we’re left with the story that we told you was going to happen, and it’s why we always say that if you do not watch our weekly market alert videos, you are doing it at your own peril, because we said be careful of SpaceX, you know, we had many people saying, hey, we want to buy SpaceX, and we said, you know, learn from history, and we gave you the example of Facebook, where it came out, it was the hottest IPO in history at the time, everybody wanted to own Facebook, the sock came out of the chute like a rocket, pun intended, and then it went down 50% after that, and all the people that bought in early that got caught in that ended up losing a ton of money, and we said, “Be careful of SpaceX, because that’s almost it’s uncannily the same sort of thing. And in fact, that is what happened. It came out, and in the first two days it went up 40% and people who bought into that saw that value drop by 31% after that, and it may not be over yet, you know, because SpaceX isn’t going to show a profit for a long time, and now there’s questions about, okay, fine, you build data centers out in space, but how do you get all the equipment up there to build the data centers, and then how do you send all the data back down, and you know there’s a lot that has to happen for that to work. Now, I think you bet against Elon Musk at your own risk, but certainly the question is, you know, how long is all that going to take, and in the meantime, people are going to be building it out here on earth, and so we have that dynamic going. So, as we always say, you know, be careful about not watching our weekly market alert videos, because if you had, you would not have bought in and experience that 30% loss, and we’re all about that now.

Ken Moraif 4:30
For those of you who are wondering when we will potentially have SpaceX in our portfolio, the Nasdaq already has SpaceX in it. Okay, they made a decision that it was okay to have SpaceX in, in their, in their index. The S and p5 100 index probably won’t have SpaceX in it for a long time, at least a year. We, on the other hand, in our portfolio might have a certain amount. Of SpaceX, due to the fact that it is part of the NASDAQ in our portfolio before the end of this year, and so we will have some of that, but hopefully what will happen is this euphoria will have brought the price down, and now you know it’s a much better place to be buying it than when it first came out, so once again we hope that you are following what we ask you to do now. In terms of where we are, one of the things that’s a little bit scary is the uncanny, again, you know, learning from history parallels between what the stock market is doing from a technology standpoint, and what it is doing versus the dot coms. When technology went through the roof, and we saw it crash 78% from peak to the bottom, and there are so many parallels. In fact, you know, we can show you a chart. I’m doing this here as I’m walking around, as you can tell, so I won’t show you the chart, but if it plays out the way the technology stocks did in the past, we could see the same thing, right, which is this massive run up on this euphoria on what all these technology stocks are going to do, and you know, right now the top 10 stocks in the s5&P 100 index back in Y2K, which was the.com technology run up, and then we saw the 78% drop in those stocks back then. The top 10 stocks represented 26% of the s5&P 100 index of the stock market. Do you know what the top 10 AI, those related stocks, you know what percentage they now represent? 41% So back then we had this massive drop, and it was with 26% Today they represent 41% of the stock market, those top 10 stocks, and that is a lot of concentration risk. So, as always, we are so glad that we have our Invest and Protection in place in case we do have another crash like we did in 2000 And in 2000 you know, the technology stocks went down 78% but they dragged the rest of the market down with them, and the total market went down around 49% from peak to trough, that’s the S and p5 100 index. So, if that happens, that’s why we have our Invest and Protect. We want to be ready, we want to prepare for bad things, because catastrophic losses, in our view, are the biggest risk we have to your financial well-being, to your ability to retire when you want to, and your ability to stay retired once you have, so we want to do everything we can to protect you from that, and that’s why we have it. So, I hope that gives you the peace of mind it does me, because I’m invested right in there with you, and I don’t want to take a 49% drop, trust me on that one. So, I hope this video finds you healthy, wealthy, and wise, and please share this with your friends, share it with your business associates, anybody that you think might be interested in this kind of stuff, and staying up to date on it all. We would love to have them watch it, and hopefully one day meet them. So, thanks again. Hope this found you healthy, wealthy, and wise, and we’ll talk soon.

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