Announcer:
It’s time now on KROS for Financial Focus, brought to you by NelsonCorp Wealth Management. The opinions voiced in this show are general information only and are not intended to provide specific advice or recommendations for any individual. Any indices mentioned are unmanaged and cannot be invested into directly. Registered representative securities offered through Cambridge Investment Research Incorporated, a broker dealer. Member of FINRA SIPC. Investment advisor representative Cambridge Investment Research Advisors Incorporated, a registered investment advisor, Cambridge and NelsonCorp Wealth Management are not affiliated. Cambridge does not offer tax advice. Now here’s today’s Financial Focus program.
Gary Determan:
Well, it is an absolute pleasure to have on the phone with us this morning Dave Nelson, Dave, how’re we doing
David Nelson:
Much better than I, [inaudible 00:00:52]
Gary Determan:
I can imagine. So I believe it might’ve been the January program, I think was the last time that we actually had you on, I think it was January when you got hit by this, right?
David Nelson:
Yeah, it was just out of nowhere. At least it had so many people and I’ll try to not botch up the disease anymore and possible, but it’s called limbic encephalitis. Essentially it’s brain swelling that typically takes place. When someone as this, which this comes with more often, not 104, 105, 106 degree temperatures, it oftentimes will be associated with a significant blow to the head, which causes then the brain to swell. And I had none of the above as far as a blow to the head. I did have a fever. Wasn’t feeling great, not terrible. And all of a sudden my arm, I just started getting this kind of almost like a duck flapping its wings or something as far as my right arm. And that started up and I didn’t think much of it. What the heck is this?
David Nelson:
And one day I went to touch the touchscreen and my computer is a touch screen. So I went to touch it and I literally couldn’t touch the screen. I thought something’s not right here. So I went over to see Dr. Kat and talked to him and did some x-rays and some tests and whatever, and didn’t come in anything conclusive. And few days later, it was I’m now going into a tailspin. And that’s around that era is when or that period was in my brain pretty much. I don’t recall. I’ve got three weeks, but I literally don’t recall anything. The last team that I coached was out at Cal weed and that game we won and my wife drove me to that game. And bottom line I don’t recall that game at all. I don’t recall anything that happened. I have no recollection of that.
David Nelson:
The day after that game, I went to physical therapy to try to help with this. When there are two consecutive days, I don’t recall any of that. And then again, started back, Eric cat, again, sent me down to my wife, drove me down to Genesis and get some hot shots down there. And four days down there, they couldn’t figure it out. They put me in an ambulance and sent me on to, I was sitting and I was out there for roughly two weeks. And, they came up with the ailment and heavy duty treatment, going to blast this thing, two spots on your brain. We got to take care of that. So a couple weeks later, I’m out of there and figured out I would be back to work as if it ever happen. So they said, this thing oftentimes will be weeks if that month and I’m in the month category and the doctor made it real clear.
David Nelson:
He says, it’s a good thing. You came out here and the sheet that you’re in, otherwise you wouldn’t be here today. And so I’m very thankful for it. There’s skill. And there abilities and locally here, Dr. America can’t read on things. Genesis did everything they could. And we just, it’s just a rare ailment. And very few people, and I had no signs of, of what would normally come along with us. So people are just shooting from the hip and then hoping that they were going to be right. One of the tests, literally it’s a two week turnaround and the doctor made it clear. He says, we don’t have time. So we got to go with our guts and a couple of days, and he’s going to be gone. So, anyway, they went with their gut blasted me and fortunately what they, their guts said.
David Nelson:
Correct. And so, anyway I’m hoping to get together with you last month, but my voice too was, for probably about a month period of time there, 80% of the day, perfectly fine. And then about 20% of the time, it just vanished. so, I thought I’ve got her on the radio and have that coming, it just comes out of nowhere. So they asked them to, it’s been a grind, but like I told so many people, I’m 58 years old and I said, this is the worst that’s going to happen to me. Or that has happened to me in 58 years. I’m pretty lucky. All you have to do is go to any one of these hospitals and go into the areas that I’m going into. And you look at the people that are walking in there and the misery that many of these people are in, and I’m waltzing in there now.
David Nelson:
I’m able to function other than my right side. That was the one that was beaten up so badly with all this. There are many seizures. So every four seconds for 11, my right arm would just fly from my side up. And there were many days, I guess, that I was tied down as far as in the hospitals, because they’re afraid I would fall out of the bed. And so, again, my right arm, I’m still tinkering with that. And to figure out if we’re going to have to have surgery or something to try and rebuild things. But when it’s all said and done, I’m a really lucky guys to pay belief that this is a short ailments. And again, many individuals out there, many probably listening today are individuals that have ongoing type big problems. And David Nelson’s are relatively small in comparison. So, I’m very thankful for that Gary.
Gary Determan:
It’s still quite an ordeal. And again, how are you doing right now? I would imagine physical rehab is part of it, but I know you enjoyed your biking and you’re walking. How are things going along those lines?
David Nelson:
Yeah. So biking’s probably out for, I’m guessing at least a year. I’m in. Nobody has said that to me. He basically, when I left the doctor, that gentleman was a Harvard grad and a Yale grad really, really smart guy. And he didn’t put any big restrictions on. So walking is happening at a really high intensity type level. I’m able to do that now. I mean, it takes a lot out of me, obviously, as far as the energy being essentially pretty much confined to a bed for a couple months my body was not in the shape that I would like it to be. But the bike scares the heck out of me right now. I’m not sure my balance is going to be there as far as to be able to handle it. And then number two is my right arm right now is shot.
David Nelson:
So it’s, I’d have to ride one arm as far as the bulk of the time, which clearly I could do. It’s just a much slower pace. And, again, just don’t have the confidence level. So yeah I, it no, don’t jog don’t this don’t that. I never was really a runner like yourself. I preferred to intense walk and the, and certainly the biking, but just have to be patient as far as I’m at.
David Nelson:
But physically I feel a lot better. I, the medication that I was on, I mean, I came home and I’m popping more blasted pills and what have you, than you could shake a stick at. And the most of those have been cut back through dramatically, as far as the volume and soon I’ll have all, but one taken away. One will go for a year. If, if things go the way they’re supposed to, the other ones will go away and probably about 30 days. So, Oh, the quicker as many listeners to get out there know get some medicine out of your body, but you, I just don’t want to shove anything in that I don’t need, obviously. And, and that’ll be really good news when I’m able to tap stop two or three of them.
Gary Determan:
Well, it was great to hear from you. There’s no doubt about that. And I know when you built this empire that you have now, you were hoping for great support staff. And I would imagine that support was there while the time you weren’t able to be in the office.
David Nelson:
Yeah. It’s just, it’s stunning as far as the, so a lot of the news got out as far as just with the newspapers as far as miss missed another game. And at that point, nobody really knew, and family didn’t really know, and that, again, it wasn’t, the world doesn’t revolve around me and, but, yet a fair amount of clients inquiring. Those that I spoke to and there’s one in particular, that’s one of our more significant from just a side standpoint and a complexity standpoint, he made a comment to me as far as maybe now three weeks ago, he said, the place didn’t miss a beat. You should be really proud of the job that you’ve done as far as involving so many individuals in the operation.
David Nelson:
And so yeah the counting operations moving along beautifully again, I didn’t have a lot of involvement in that side anyway, but that, that one didn’t miss a beat. The other side, whether it be staff, whether it be other advisors, everybody stepped in. And obviously they knew that it was something fairly serious or I’d be here for those that don’t know me. I’m a, hard-headed a hard working individual that I have the flu. I don’t like to stay at home. I don’t know if there’s a 24 hour period and I would stay in the house ever. I got to get out at least get outside in some fashion.
David Nelson:
Obviously in this, there was none of that. And so it was crucial as far as staff and boy did they accept in and do a great job. As far as money management, we’ve got a system and a rule set established for that. As far as individuals are concerned, as far as client meetings are concerned, we’ve got a fantastic rule set as far as that. And so now it’s, I got a decent sized ego and the world, as far as the business around me, well, I found out pretty quick that David Nelson is replaceable. So I think that’s good. [inaudible 00:11:28]
Gary Determan:
I can hear you there. I can hear you there. Let’s go ahead and take a break for the weather. We’ll come back. We’ll talk business. How’s that sound? All right. 15:45 weather update brought to you by Peterson Haggie.
Morgan Stragby:
Good morning. We are going to remain warm again today with temperatures in the low to mid seventies, but we are going to bring in a chance of scattered showers and thunderstorms for the late morning and late evening hours of today. Right now, that’s severe chance remains low, but we will continue to keep a close eye on those storms as they move through today. Tomorrow, we will see temperatures drop off to around 60 degrees for highs, and we will keep a chance for some scattered showers as the system continues to move off to the Northeast. This has been your storm track. Eight weather update from meteorologist Morgan Stragby.
Gary Determan:
Thank you Morgan. Looking pretty good right now. Fair skies. 65 degrees. Our Update brought to you by Peterson Haggie furniture.
Petersen Hagge Furniture:
You were lucky enough to be born with good taste. Why not let Petersen Haggie furniture help you put it to good use. Peterson’s is going to make your shopping experience as easy and pleasant as possible. And their friendly staff will help you make all the right choices. Choose from name brands, and find a selection of the newest furniture, styles, fabrics, and colors. And the prices at Peterson Haggie are as attractive as their furniture. Peterson Haggie furniture in Dewitt and Clinton.
Gary Determan:
Financial focus presented by NelsonCorp wealth management. First Wednesday, we go to the bottom of the hour and again, great to have Dave Nelson with us. So, Dave, when you came back to the office, what caught your eye? What really said, Whoa, what’s been going on.
David Nelson:
Well, it’s kind of interesting, Gary, as far as, since you bring it up, if we think back to during this period of time, we’ve now got a new president as far as in the white house. I mean, that was kind of during that window. And that was a lot of the inquiries as far as from folks that are every other physician slash nurse slash therapist, whatever that came in and that worked with me. And they go through their checklist as far as to see how with it, you are. And that came up all the time and who’s in the white house. And again, three week period of time, as I told you, I had nothing upstairs that that was of any value. So oftentimes my answer was wrong. It just wasn’t there. I tell people that the medication that I was on, I’ve got a doctor friend down in the quad cities and I was telling him this story and he got a good chuckle out of it.
David Nelson:
I said, I really kind of believe it was the medication I was on. I said, it was kind of like a scrub brush going in there as far as into the brain. And I said, I think my memory is better than it was when, prior to this. And he said, Oh, there’s no way. I said, I’m telling you, I think there’s like a good scrubber that took place and clean things out up there. So, but anyway, it really centered around just some of the decisions that were being made as far as from a political standpoint. Mark has had really, in that period of time changed that much. Gold had a big move. As far as in the downside. In comparison, if you look at stocks, you look at bonds during that window. Not very significant. Now, once again, I left the hospital. So about two days prior to leaving the wheels started turning again, my wife was hitting me on a fairly regular basis, and I didn’t realize why at the time, again, still kind of in a fog, they use the term fog with this Corona virus, that’s probably a pretty good description.
David Nelson:
I kind of had a feel for what was going on, but not really. He started putting pictures, photos in front of me, as far as on her phone of the grandkids. Who’s this and who’s this. And, or I don’t know, two, three, four or five days, but I was somewhat with it. I couldn’t come up with it. And so anyway, last couple of days, things started coming together and I realized as far as who it was, recognize them and come up with a name. And then as far as markets were concerned, I had my son James one day call and was talking to me. Again, I think this was a set-up as far as the docs, trying to get a gauge is the memory coming back, because oftentimes with this, one, you don’t make it. And if you do make it, then oftentimes it’s too late.
David Nelson:
As far as that, your brain has been under excess stress, that, you don’t come back fully, come back. And so, anyway, I’m now answering questions and whatever that they’re checking my direction. And so that was pleasant news. But the markets, I was probably, I’m going to say three weeks and I didn’t leave the house, not feeling well again, medicated pretty heavily, but functioning and eating plenty and which they won’t like. I don’t like so much. I put on a little more weight than I would’ve liked to. But anyway, what was interesting was just what was transpiring during that window and what we saw as the markets, all of a sudden start taking off pretty significantly. The bond market starts selling off, which is a fancy way of saying that interest rates were moving up and moving up quite rapidly.
David Nelson:
And again, if people don’t understand and I don’t think most people do as far as bonds, the way they work, if you own a bond and interest rates go up and your bond still pays the same interest rate, which they will tell you the same rate, let’s assume you were getting 3%. And when you bought your bond and today bonds are selling at 4%. Well, nobody really wants your bond because they only pay three. I can buy a new one and get 4%. So in other words, the value of your bonds then drops and subsequently during that particular window that we were in, we saw the bond market costing and losing people, fair amount of money yet people were going into stocks. And so nobody really cared. now the last week or so, we’ve kind of hit this kind of weird spot here where stocks are kind of moving sideways.
David Nelson:
You got technology stocks that have been selling off fairly significantly. Last couple of weeks, bond market has been selling off. It’s now kind of flattened out. And so again, it’s the shocking thing then was just, what’s on the front burner what’s going to take place. And cause to believe that anybody at that point would have, could have seen interest rates moving as rapidly upward as they did. And people lose the money that owns those bonds, that own those bonds during that window. That was pretty shocking. So other than that, Gary, it was, it was kind of status quo. I mean, quite honestly. And as far as again, the investing world is concerned. Looking forward now it’s taxes. What impact are they going to have? There’s going to be some fairly significant changes that are going to take place. Again. I think the 90%, that’s probably a lie probably closer to 95, maybe even 96, 97% of the folks out there list the [inaudible 00:18:48] .
David Nelson:
As far as income taxes are concerned, we’ll probably see no change. If anything, maybe they might might see a reduction, but we’ll see, as far as what Biden and the Democrats and the Republicans are able to negotiate as far as again, for most individuals out there. And again, what impact is that going to have. Markets are telling us today that they’re okay as far as corporate tax rates going up a little bit, which is kind of interesting too. It’s already been factored in as far as the pricing of the market. So unless there’s something really, really significant and bad, significant we’re still pretty optimistic as far as looking forward, as far as markets are concerned from today.
Gary Determan:
All right. Very good to hear. Of course we are heading towards summertime it’s spring, of course right now, but it looks like the boys is summer are going to be back at NelsonCorp fields. So that is great news, the prospect league, and it’s your name? And it was great for you to come forward and to do that for the ball club. But of course, last year, no baseball down there, but thankfully there is going to be baseball down there this summer Dave.
David Nelson:
Isn’t that the truth and looking so forward to it. I, it was something a few years ago. I mean, I had been chatting with Ted Torno now and you know, everybody remembers as far as the college here as for things weren’t going too well, as far as for them. And again, I won’t get into the particulars as far as just it’s private entity in that line of the educational side, they just didn’t see the future as far as in [inaudible 00:20:28] Iowa. So they’re obviously pulling out, they’re writing a big check as far as to the ballpark and have their names flattered up there. And so I said Ted, you got a prospects, hoping that maybe one of the big factories in town with that board and this discussion went on for months and nothing, nothing, nothing.
David Nelson:
And what’s the tab. And he told me the tab and I said, well, that’s just way out of our league as far as the price that we needed in town. So like, we’re making a few calls and whatever, and basically struck out as far as any ability to get someone else to step forward. And at that point, we pretty much made the decision that we’re going to have to step forward. We’re going to have to figure it out. We need to keep this in our community. This is just crucial for Clinton Island as far as to have this. And as you say, the first year, fantastic last year, nothing this year having a two thirds of what we had before, isn’t exactly what we want, but it’s better than nothing. And again, the quality of the baseball that’s going to be played down there I’m being told is going to be a really, really high level.
David Nelson:
So, we’re excited about it. And again, it’s one of those things you do. As far as the business and established business we need the organizations in this area to step up. We got a lot of good things. I know people probably get tired of me getting on my soapbox as far as talking about the area, but I do travel a lot. And I have an opportunity as far as to drop anchor in lots of different areas, as far as to run a business from whatever. And Clinton Iowa is the place and I really believe that we have a lot of wonderful things here. And again, at the end of the day, we are going to continue to support as far as the community and the lumber Kings is going to be part of it.
Gary Determan:
Very good. Hey, great. Great to have you on the air. Once again, looking forward to when we get you back in the studio, continued success with your rehab and listen to what the doctors have to say, Dave.
David Nelson:
Yeah, I’m trying to.
Gary Determan:
All right.
Gary Determan:
Be good to be disciplined. So good chat with you too. Thank you.
Announcer:
Thank you so much.
Announcer:
Financial focus is a production of NelsonCorp wealth management in Clinton and Davenport. The opinions voiced in this show are for general information only and are not intended to provide specific advice or recommendations for any individual. Any indices mentioned are unmanaged and cannot be invested into directly. Registered representatives securities offered through Cambridge investment research incorporated, a broker dealer member, FINRA SIPC investment advisor, representative Cambridge investment research advisors incorporated a registered investment advisor, Cambridge and NelsonCorp wealth management are not affiliated. Cambridge does not offer tax advice. For more information, visit our website at www.NelsonCorp.com.