After struggling to come back from a recent losing streak, the dow jones ended the day down around 100 points. The s p 500 is down around a quarter of a percent. The nasdaq was relatively flat. Cryptocurrency trading platform, coinbase has lost half its value in the past week as bitcoin, and other digital coins continue to plummet. Joining us now is ryan belanger ryan is the founder and managing principal of claro advisors. Ryan. Welcome great to have you with us. So what was driving the markets down today? Well, i think you had a bunch of different factors, but mostly its sentiment. Youve got an environment here where people are just taking bad news is bad news, and good news is bad news, and so youve got an environment where really any news thats coming out is going to be perceived as weakness. You know until we see a home for interest rates. I think this is going to continue to play out in the markets and its really just a tough environment uh that investors have to kind of get through at this point uh, knowing that therell be some brighter days ahead. All right, i want to ask you now about this crypto crash, because again you mentioned inflation, and this is coming as the federal reserve, hiked interest rates, of course, in an effort to cool inflation, but its also sending high risk tech stocks into a tailspin. So what are your thoughts on crypto? Is this its never really been a safe bet, but what is it now for people looking for a long term, investment well for long term, investment, uh youve got to think long term now with crypto, because its turned out to be.

You know the worst nightmare, which is an extremely volatile asset class, and you know i think the market is finally realizing that its treating crypto uh along with like the way it treats all the tech stocks and which is, if its a long duration, stock, uh thats, Going to take years and years to make money off of its not worth holding right now and then youve got on the other. You know, coupled with that, youve got some some language from a few of these cryptocurrency players. Uh, citing you know what would happen in a bankruptcy situation which i think is creating a tenuous situation for people that are holding this as if its a safe haven asset class, when its really not backstop by much thats right – and you know one of the draws Of it initially right was that this is a unregulated digital asset, but now that uh, that is now proving to be also a drawback uh, as you know, theres a lack of bankruptcy protections here. So what happens to a customers assets if one of these crypto companies has to file for bankruptcy? Well, i think its dependent upon the uh, the different cryptocurrency um, and you know what were trying to tell our clients is. You got to stay focused on on long term, assets that can produce cash flow, and you know the cryptocurrency environment right now, its just not something that were interested in putting uh. You know client assets into its uh.

You know its an unknown asset class. It popped up, you know five or ten years ago, got really popular in a low interest rate environment people had cash or spend and theyre putting it in speculative places, and this is just the latest example of potentially a situation where youve got assets tied up in Something that perhaps, is more speculative than the average investor thought it was so you know a lot of people were saying. I really want to wait till crypto cools off to get into this asset class now its obviously cooling off uh. Is this a buying opportunity for those people, or do you think you know people should just stay away for the time being? You know it depends on the the investor its a great question, its so specific to each person. But if youre a type of person that wants to take risk and is speculative in nature, then you can go ahead and do that if it suits your portfolio in a certain percentage for most people, theyre not going to understand the interest intricacies, how it works. How you can get your money back? What happens in defaults in certain situations, so i think for the general population, its probably not something that deserves a position in a portfolio but for speculative investors. You know thats exactly what it is right. You should just know the risk going in all right know: the risks all right, ryan, velander of claro advisors, thanks so much for joining us.

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