Fox Business host defends Trump as stocks crash: “If you're at retirement age and you were fully invested in the market, why?”
Jackie DeAngelis: “For people who were looking at this market as their piggy bank for the last two years, I think there is some conversation that needs to be had around that rather than finger-pointing at him”
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From the April 7, 2025, edition of Fox Business' The Big Money Show
JACKIE DEANGELIS (CO-HOST): Dagen made the point earlier about who's invested in the market, who's not invested — there is a lot of Wall Street investors that are getting hurt here, there are a lot of mom-and-pops through pensions and 401(k)s. But a point that keeps being made is if you're at retirement age, you know — and the point is being made to kind of attack Donald Trump. If you're at retirement age right now and your 401(k) is taking a hit, you should be angry with Donald Trump. I would also say to some of these folks, if you're at retirement age and you were fully invested in the market, why? Why weren't you in some fixed income? Why weren't you in some diversified assets? For people who were looking at this market as their piggy bank for the last two years, I think there is some conversation that needs to be had around that rather than finger-pointing at him, because I still say whether or not he triggered the sell-off with tariffs, this sell-off was coming.
CHARLES PAYNE (FOX BUSINESS HOST): Just real quick to add to that, if you're like 72, 65, it assumes that you've been in the market for maybe 30 years, 20 years, and at some point you do start to say I'm going to be collecting soon, and you do shift to Treasurys and things like that. So to your point, whenever people get greedy — when I was a broker, I would get new clients because they would always told me their last broker was, you know, didn't do a great job. But it didn't take me long to figure out it wasn't the last broker, you know? “Hey, Pete, XYZ is up so-and-so, let's take profits.” “Let's hold on a little bit longer.” “OK.” Then it goes down. “Why didn't you get me out?” You know what I mean? So listen that's a great, I think that's great.