Dec. 11, 2024

Bitcoin Boom, 2025 Buzz, & Estate Planning Secrets!

Bitcoin Boom, 2025 Buzz, & Estate Planning Secrets!
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Bitcoin Boom, 2025 Buzz, & Estate Planning Secrets!
Bitcoin Boom, 2025 Buzz, & Estate Planning Secrets!

This week on Money Matters, brought to you by Greenberg Financial Group, we’re diving into the latest developments shaping the financial world. Bitcoin has surpassed the monumental $100,000 mark—what does it mean for the markets, and where could it go...

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This week on Money Matters, brought to you by Greenberg Financial Group, we’re diving into the latest developments shaping the financial world. Bitcoin has surpassed the monumental $100,000 mark—what does it mean for the markets, and where could it go from here? We’ll also explore the latest political news and its potential impact on the economy in 2025.
Plus, we’re joined by special guest Jon Scibilia, the estate planning attorney we partner with, to discuss critical insights from the estate planning world that you can’t afford to miss. Don’t miss this episode packed with market updates, expert opinions, and practical advice.
If you would like to contact us to learn more about our firm and our process call us at 520.544.4909 or go to our website at www.Greenbergfinancial.com or email us at Contact@Greenbergfinancial.com

WEBVTT

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Owning everybody. It's that time, Sunday morning, eight o'clock right here,

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seven ninety K to s tea. It's the Money Matters

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Show with Dean Greenberg and the rest of the crew.

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Will be here for the rest of the show today,

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two hours of us talking to you about just about

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everything and relating it to financial wealth. You know, you

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look at this week. What is the big thing that

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happened this week? Bitcoin? Bitcoin? Is that interesting? Over one

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hundred thousand? How many people thought it would be over

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one hundred thousand? Down a lot? Why is it over

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one hundred thousand? Could just say just because of the

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Trump bump? Or was it because they're actually going to

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do something with bitcoin? As the fear of the dollar

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of the brick nations are trying to do something other

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than the dollar. Will bitcoin it sometimes be something. It

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seems like it's getting traction, Let's just put it that way.

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I don't know if a hundred thousand dollars is a

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temporary top or just the beginning of a launch. But

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like everything else, you know, people that don't mind a

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little bit of volatility probably can use a little bit

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in there their accounts using the ets. Ever since the

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ETFs came out. They've done a great job in making

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sure that people have the liquidity they need and the

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exposure that they want in bitcoin. Now, it's not for

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everybody because, believe me, just like gold, what is the

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purpose of bitcoin? But maybe down the road there is something,

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Maybe there is something the administration will do, Maybe there

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is something that this is what's gonna happen over the

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next four years, So you know, you decide for yourself

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where it goes. It is speculative. I would not say

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it wasn't and it could get hit, yes it could.

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But you know what, there's something about it that's making

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me take another look at it, and you know, and

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uh and see if other than more growths, some growth

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counts I should have a little bit of exposure. But

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you know, it's hard to do it at a one

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hundred thousand. We'e here. But like I said, is this

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is this the springboard or is this the high and

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only you can make that decision on your own. A

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lot of things happen this week in the UH In

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the UH unemployment world, the UH we had two hundred

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and twenty seven thousand new jobs. UH we also had

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four point two percent unemployment. You know, in the in

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the in the common sense world, you would think that

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the FED would not raise interest lower interest rates here

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and stimulate the economy anymore. But they've been so determined

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to lower these interest rates, and I know they want

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to bring it down to help the debt, but all

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that could be is inflation area, and that's inflationary. You're

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going to see the bonds that we have to refinance

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all the time go higher anyway. So it'll be interesting

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to see what happens in the next week or two

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with interest rates and the FED making the decision whether

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or not they are going to lower the rates or

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hold steady. With all that, would you have you had

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the s and P up one percent for the week,

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NASDAK got three point three, which is obviously all the

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tech stocks, but everything else was down. You had to

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Rustle down one percent, that equal weighted SMP down one percent,

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and the Dow was down a half a percent. And

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so that tells me is a divergence going on, which

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usually leads to a market decline of some sort. I

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would not be surprised to see, I don't know, three

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five seven percent move down scary quick. And if that

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happens between now and the end of the year. Be

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a buyer now. If we keep moving higher into the

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end of the year, that makes me more nervous coming

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into January because on a cycle basis, a technical basis

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bigger than new How going into January before Trump actually

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gets to enact some of his ideas to actually put

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him into play, I think as he came out and

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started talking about what he's going to do, you're gonna

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see a lot of hesitance, confusion. Markets don't like confusion,

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so they actually see what actually happens, and you can

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probably see a market declined from that point. So it's

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either gonna happen now. If it does, it's a buy.

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It happens after the first of the year, we getting

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to the first year to new high, then that's probably

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the time to maybe look to buying opportunities. If it

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happens in the first quarter, anytime the markets do full

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I would say five to seven ten percent or more,

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look to be a buyer. I'd be cautious right now.

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I am cautious. I've been cautious. It doesn't mean I

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haven't been making money as the markets go higher. I

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just haven't been knocking it off the charts because you

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know what, it's kind of kind of scary. Evaluations are high,

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too many people are bullish. Everyone's on board with the

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Trump train, and when that happens, usually something goes the

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other way because the markets are built on whatever is

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underpinning them, and when you get stretched so far from

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the two hundred day moving average like we are now,

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there's nothing stopping it from coming back. And once the

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selling starts, then the mentality of it starts and people

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sell before asking questions. Computers kick in next thing, you know,

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with down five to seven percent and trying to figure

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out where we're going. So don't be the one that

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gets scared. Be the one that sells into these rallies,

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knowing at sometime it will pull back. So where are

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we and how do you do that? The easiest way

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is to take some money off the table. Obviously, you

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don't want to create capital gains for you right now,

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so look for the losses that you can take going

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into the end of the year, raise cash, put in

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a money market fund, wait for the opportunities for things

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to happen. Stocks that have really appreciated that you do

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want to take somebody you don't want to pay taxes

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on it. You don't wanna, uh, I'll set it, hedge

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those accounts, sell a call, buy a put, buy an

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insurance put against the whole the portfolio. Use your inverse

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funds if you're If you're mostly NASDAC used the use

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use the Q I D if you're mostly S and P,

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use the U SDS if you're mostly the dow, use

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the the the the inverse for the dow. It's very

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easy to do. Learn about it. Learn how to mitigate risk,

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especially when the markets where they are. I know it

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keeps going higher. Okay, little here, a little there. But

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the diversions we have right now is making me a

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little nervous. So put that in the back of your

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mind and realize where we're going. So on a political note,

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you start now with having everybody settling in Trump's coming

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up with his cavities, coming up with his ideas, and

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of course you have all the pundits telling you which

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ones they like, which one they don't. They are clowns

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or jokes, they don't have experience. Let me tell you something,

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this is exactly what we needed. Exactly. We need people

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in there that have common sense. We need people in

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there that complain that they're billionaires. How did you become

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a billionaire when you didn't inherit it? You earned it

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by making decisions, taking risk and understanding the markets. What

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you're involved in running the government is massive, but it's

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not complicated in my opinion. The complications come from all

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the laws and all the maneuvers for power and all

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the things that people do behind the scenes. But if

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you really look at the government, it's a business and

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nobody ever wants to look at as a business. And

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they always say, you don't look at as a business

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because it's not a business. It doesn't have to be profitable.

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If it was a business, we'd be bankrupt. But since

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it's not a business, doesn't mean that you can keep

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increasing your debt. Eventually countries go bankrupt. I don't need

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to remind you of Greece and Spain in the most

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recent years where they had to reduce everything, and France

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and how they had to cut back on pensions. That's socialism.

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The less administrations wanted us to go down that road

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to socialism. Keep giving, giving, giving, giving. You saw that

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with all their immigrants coming in and living better than

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most of our poor people, getting hotel rooms, getting jobs,

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getting credit cards, to be able to spend, because it

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was the humane thing to do, but it wasn't the

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humane thing to do for our own citizens that live here.

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We get billions, hundreds of billions of dollars, trillions of

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dollars a year away to around the world, but we

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said we do not have enough money for us. Else

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that needs to change to think that, to put ourselves first,

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to put America first, is not narcissistic, and it's not

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a problem if you understand you trying to make yourself

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strong in order to help others. The government functions, like

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everything else, on a budget. The problem is people don't

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want to live with budgets. The University of Arizona got

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in trouble because they did not want to live within

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their budget and they overspent their budget, and departments overspent

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their budgets, and then by the time everybody realized what

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was going on, we were two hundred and fifty million dollars

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in the hole. You have a budget, you stick to it.

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We haven't stuck to a state to a budget in

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the in the government, and I don't know how long

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we always go over. We always need more money, and

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they always have to go down to a show down. Well,

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it's time to put a budget out there without increases

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every year and decrease the budgets, decrease how we spend,

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And I get it. Politicians need money to spend so

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they can keep in Well, you know what, I don't

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care if you do not get reelected because you're not

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doing the right things for the people of the United

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States and you're just trying to have things for yourself,

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then you're not there for the people of the United States.

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Everyone will have a little bit for themselves, but the

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people of the United States will work as a team

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as opposed to individuals, which are what politicians continue to do.

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They do not work as a team. They work as individuals,

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and as individuals, they do a poor job of trying

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to come together as a team, and they always fight

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the other side. The Doge Committee, to me, is one

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of the greatest things that I've heard to actually put

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on the table and try to implement. Now, whether it

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get done or how it's going to get done, I

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don't know, but I do believe cutting spending, trying to

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get to two trillion dollars worth is a great, great

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opportunity for us as a country to finally look under

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the cover, under the roof, under the and see what's

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going on with all the fat, with all the deals,

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who's making the money, where the money's being sent? Audited,

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it audited it, We all get audered. The government gets

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ordered who they have to answer to themselves. No one

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knows what goes on. But the biggest thing as we

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know now, sixteen percent of government employees go to the office,

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and obviously a lot of that is security that has

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to be there anyway, right, People that clean, they have

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to be there. Only sixteen percent of government salary employees

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go to an office. That means the rest of I'm

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on at home. Now. I'm sure there's a lot of

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government employees that work hard and do the things they

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need to. But when you give the opportunity as we

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have over the last four years and tell people, hey,

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we can't fire you. You're part of the government, it

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takes this, this, and this to get rid of you.

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Do you think they're working hard at home? Anytime I've

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had to work with people that are at home and

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they say that it takes days to get back. Send

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me an email, We'll get to it. Give me a

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work order, we'll get to it. That takes time and money.

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We can cut those people out right away and get

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people that want to go to the office and get

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things done. You and I both know when you're in

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an office and there's people around, things get done because

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if you can't do it, you get someone to help

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you do it, and it gets done. When everyone's at

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home supposedly on the computer and doing things, who knows

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what they're doing. What time do they get up, What

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time do they get what time are they on plugging in?

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You know, if they have to turn on their computers

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so they know they're working. Great. Is there is there

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a camera there? Are they watching everyone? Hell no, they're

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all doing the same thing. We don't need cushy government

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jobs who get these huge pensions at the end of

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the day when we don't have the money to pay them.

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That's your money, my money coming out of our taxes.

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00:13:23.039 --> 00:13:26.120
I believe we pay too much in taxes. I know

229
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they had you believing that the rich should pay more

230
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and everything else. Well, maybe we need to go do

231
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what we're gonna do over the next few years and

232
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find out where all the money is going, and maybe

233
00:13:38.320 --> 00:13:41.200
with that with tax cuts, we can do the things

234
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we need to do. When we're sending trillions of dollars

235
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around the world, maybe we're charging ourselves too much in taxes.

236
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Let's see what happens. And of course all you here, well,

237
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the defense spending is the one that's costs the most.

238
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They're Medicare and Social Security. So where are they gonna

239
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cut They're gonna cut Medicare and soid security. They are

240
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not cutting Medicare and Social Security. First of all, we

241
00:14:02.879 --> 00:14:07.080
all know that Social Security is there for at least

242
00:14:07.440 --> 00:14:12.000
another eight to ten years. Okay, What they are going

243
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to do is cut the lazy people that don't want

244
00:14:14.480 --> 00:14:16.679
to come to work. What they are going to do

245
00:14:17.919 --> 00:14:21.039
is cut the fat and try to get rid of

246
00:14:21.080 --> 00:14:23.559
all the fraud that goes on as much as possible.

247
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One way you do that is by working in an

248
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office together. There are I can't even tell you how

249
00:14:30.120 --> 00:14:34.679
many government office buildings vacant that they're paying rent on.

250
00:14:35.039 --> 00:14:37.399
Get rid of them, sell them and get rid of

251
00:14:37.440 --> 00:14:42.399
the rent and bring in money. No reason to just

252
00:14:42.600 --> 00:14:47.240
keep spending our money. Spend the money like it's theirs. Okay,

253
00:14:47.639 --> 00:14:50.600
like it's our money, and we care about where every

254
00:14:50.639 --> 00:14:56.600
single dime goes at least every dollar. Okay, stop telling

255
00:14:56.679 --> 00:14:59.240
you it's too big to know. The military wastes so

256
00:14:59.320 --> 00:15:01.200
much money to you. You know that I know that.

257
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And to get appropriations and to do things, and to

258
00:15:04.159 --> 00:15:06.399
tell people, well, if you if you don't spend all,

259
00:15:06.480 --> 00:15:08.639
if you spend, if you don't spend your entire budget

260
00:15:08.639 --> 00:15:11.960
this year, you can't get anymore next year. That incentitize

261
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people to overspend and be in a position to ask

262
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for more so they need more next year. Stop it

263
00:15:18.120 --> 00:15:20.639
with the game we ward the people. Don't take the

264
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money away from them if they're not doing, if they're

265
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not spending it. Make sure everyone that's spending the money

266
00:15:26.159 --> 00:15:28.679
is going for true and tried and needs to spend

267
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that money. Make sure every department has all the people

268
00:15:32.399 --> 00:15:34.799
they need, and get rid of the ones that aren't working.

269
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Make them not have to be able to have tenure

270
00:15:38.080 --> 00:15:40.919
where they it's almost impossible to get rid of a

271
00:15:41.000 --> 00:15:48.039
government employee unless they do something fraudulent. Make them accountable

272
00:15:48.320 --> 00:15:52.279
for actually production and working. Make them accountable for the

273
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money that's being spent. Make them accountable for making changes,

274
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Make them accountable for keeping a track of what's going

275
00:16:00.000 --> 00:16:06.080
going on I would guess we got twenty five percent

276
00:16:06.440 --> 00:16:09.639
too many employees in the government. If you think about it,

277
00:16:09.720 --> 00:16:12.639
every time we're increasing jobs where most of the jobs

278
00:16:12.679 --> 00:16:15.720
coming from not the private sector, the government sector.

279
00:16:15.759 --> 00:16:18.840
They hire higher hire, they.

280
00:16:18.679 --> 00:16:22.200
Don't need to do that more production. When you have

281
00:16:22.279 --> 00:16:24.200
more people in the office. Now the people that are

282
00:16:24.200 --> 00:16:28.480
doing well, give them more money. Give them more money.

283
00:16:28.639 --> 00:16:31.799
I'm okay with that. But for every three, get rid

284
00:16:31.840 --> 00:16:36.840
of one. You don't need that many employees. Let them

285
00:16:36.879 --> 00:16:41.360
find other jobs. It's okay. Unemployment goes up, interest rates

286
00:16:42.639 --> 00:16:47.120
have a reason to come back down. Give incentives to

287
00:16:47.159 --> 00:16:51.559
the private sector to hire people, let people learn more,

288
00:16:54.679 --> 00:16:58.519
and don't just give away things to people. If you're

289
00:16:58.559 --> 00:17:02.320
able bodied, you only have so lunch time to be

290
00:17:02.399 --> 00:17:06.720
able to be on unemployment and get benefits. People need

291
00:17:06.759 --> 00:17:10.640
to work. They need to show that the part of

292
00:17:10.720 --> 00:17:14.799
society and doing the things that are right. We keep

293
00:17:14.839 --> 00:17:17.680
handing our checks to people. Why would anyone work. We

294
00:17:17.720 --> 00:17:22.960
saw that whole thing go through before. This all will

295
00:17:23.000 --> 00:17:27.599
help and help and help us grow. Now, where do

296
00:17:27.640 --> 00:17:32.000
we need more government jobs? Border safety, both borders. We

297
00:17:32.079 --> 00:17:36.319
need more border people. We need people that will expedite

298
00:17:37.839 --> 00:17:40.519
the immigrants coming in to make sure that they don't

299
00:17:40.519 --> 00:17:44.119
have to wait five, six, seven years for trial. We

300
00:17:44.160 --> 00:17:46.079
need to know where they are, and we need to

301
00:17:46.160 --> 00:17:50.240
start assimilating the ones that we agree need to be

302
00:17:50.319 --> 00:17:54.039
here that we're helping. Let them help us learn English,

303
00:17:54.160 --> 00:17:57.119
learn a trade, learn what's going on so you can

304
00:17:57.160 --> 00:18:00.799
go to work in the United States, pay your taxes,

305
00:18:00.839 --> 00:18:04.160
pay your health care, and be a citizen. That actually

306
00:18:04.240 --> 00:18:09.240
helps America grow. The uproar from everybody on everything else

307
00:18:09.319 --> 00:18:11.519
is obviously from the left. We haven't even done anything.

308
00:18:11.519 --> 00:18:14.000
There's nothing that's been done yet. Let's see where we go.

309
00:18:14.039 --> 00:18:17.319
Are there going to be some hiccups? Absolutely do. I

310
00:18:17.359 --> 00:18:19.200
believe at the end of the day, we're gonna have good,

311
00:18:19.279 --> 00:18:22.200
common sense people there trying to sit and make decisions

312
00:18:22.200 --> 00:18:25.440
at the best for America. I do because when billionaires

313
00:18:25.480 --> 00:18:29.200
are in there, they're not trying to get richer. They're

314
00:18:29.200 --> 00:18:31.200
trying to make sure America is here so they can

315
00:18:31.359 --> 00:18:36.839
continue to stay rich. They make decisions based on America

316
00:18:37.200 --> 00:18:39.720
and growing America and doing the things that we need

317
00:18:39.759 --> 00:18:46.640
to do with trade and relationships and foreign policies. That's

318
00:18:46.680 --> 00:18:49.839
what we do, not on how they're going to get

319
00:18:49.920 --> 00:18:52.000
rich and how many people they can talk to and

320
00:18:52.039 --> 00:18:58.599
everything else, which takes me down to the Bidens. Okay,

321
00:18:59.720 --> 00:19:08.279
the big news was about Biden's son getting parted. You

322
00:19:08.359 --> 00:19:10.319
might not like what I'm going to say, but I'm

323
00:19:10.319 --> 00:19:13.039
going to tell you right now. If that was Joe

324
00:19:13.119 --> 00:19:19.599
Biden and my son had the problems he had, if

325
00:19:20.519 --> 00:19:23.920
Hunter was still on drugs, no way do I pardon him.

326
00:19:24.839 --> 00:19:28.319
But if he's getting himself cleaned, getting his act together,

327
00:19:28.400 --> 00:19:30.640
doing the right things, and really believing it that he's

328
00:19:30.680 --> 00:19:34.720
doing it. If I was Joe Biden, I would what

329
00:19:36.200 --> 00:19:37.279
would have parted my son?

330
00:19:38.319 --> 00:19:38.599
Now?

331
00:19:40.039 --> 00:19:42.079
I probably would have had him apologize to the United

332
00:19:42.119 --> 00:19:44.759
States of America, but I would be up front and

333
00:19:44.839 --> 00:19:48.480
transparent and say, this is my son, just like many

334
00:19:48.519 --> 00:19:50.400
others that have gone through crisis. He's trying to put

335
00:19:50.400 --> 00:19:55.720
his life together. Did he do things wrong, Yes, But

336
00:19:55.759 --> 00:19:58.000
it's all about opportunities, and this is an opportunity and

337
00:19:58.039 --> 00:20:00.200
I'm going to take as a father to give my

338
00:20:00.279 --> 00:20:03.440
son the ability to stay clean the rest of his life.

339
00:20:04.559 --> 00:20:06.920
If he does not, and if you do not, and

340
00:20:06.920 --> 00:20:10.400
I would say it right to his face, and you

341
00:20:10.519 --> 00:20:16.039
mess up, then they will put you in jail and

342
00:20:16.039 --> 00:20:18.039
there will be no more that you can get out

343
00:20:18.039 --> 00:20:20.160
of And that would be the way it would be.

344
00:20:20.200 --> 00:20:25.599
I'd be honest with America. I wouldn't be going ahead

345
00:20:25.640 --> 00:20:28.000
and trying to lie about things all the time. Yeah,

346
00:20:28.039 --> 00:20:29.799
I know, he said he wasn't going to pardon him.

347
00:20:30.079 --> 00:20:36.079
It's his son, he's got his life together. We've been

348
00:20:36.079 --> 00:20:40.160
allowing people out of jail that have killed people. Okay,

349
00:20:40.559 --> 00:20:43.839
So let's put it all in perspective. What would you

350
00:20:43.880 --> 00:20:46.359
do if that was your son or your daughter and

351
00:20:46.559 --> 00:20:49.599
they were trying, and they were putting their lives together

352
00:20:49.720 --> 00:20:52.079
and working in the right direction and doing the right things.

353
00:20:52.400 --> 00:20:55.240
Now do I know he's not doing drugs anymore? No,

354
00:20:56.000 --> 00:20:58.440
Obviously the cocaine and the white substance or whatever in

355
00:20:58.440 --> 00:21:01.480
the White House had to come from some place who knows.

356
00:21:02.519 --> 00:21:05.079
But if he's actually together and doing the right things,

357
00:21:05.079 --> 00:21:10.759
it could be in society then yes. But we know

358
00:21:10.839 --> 00:21:12.960
all the other things too. How does he have these

359
00:21:13.000 --> 00:21:17.279
relationships with China? Okay, in Ukraine and stuff. I want

360
00:21:17.319 --> 00:21:22.200
all that stuff uncovered and stopped. In politics, we don't

361
00:21:22.200 --> 00:21:26.839
need that stuff anymore. So when it comes to these things,

362
00:21:27.240 --> 00:21:29.880
let's be honest, we would try. We would not want

363
00:21:29.880 --> 00:21:32.160
our son or a daughter if they were in that position.

364
00:21:32.480 --> 00:21:35.000
So stop beating up Joe Biden and the Democrats for that,

365
00:21:35.039 --> 00:21:37.000
because you know what the Republicans do it to be

366
00:21:37.039 --> 00:21:39.559
the same on the other side. But the bottom line is,

367
00:21:39.640 --> 00:21:43.200
I'm tired of listening to the Press Secretary stand up

368
00:21:43.240 --> 00:21:47.160
there and continually make excuses for them, lie for them,

369
00:21:47.599 --> 00:21:50.920
say that you know, Yes, it was a hard decision. Yeah,

370
00:21:51.039 --> 00:21:57.039
it wasn't a hard decision. Pretty easy decision. Son. No

371
00:21:57.079 --> 00:21:59.559
longer trying to get on the straight and narrow. Stay

372
00:21:59.559 --> 00:22:04.200
in there. I'm eighty years old. I've had a tough

373
00:22:04.240 --> 00:22:07.640
life with other children. No, I'm not gonna spend the

374
00:22:07.640 --> 00:22:11.039
rest of my life not having my son available. No,

375
00:22:11.440 --> 00:22:14.759
that's exactly it. Tell the truth. The problem is they've

376
00:22:14.799 --> 00:22:19.240
never told the truth, so America can't stand it. And

377
00:22:19.319 --> 00:22:22.119
I'm so tired of listening to the Press Secretary be

378
00:22:22.279 --> 00:22:26.319
up there and talk out her mouth, knowing she's lying.

379
00:22:26.559 --> 00:22:28.279
I hope she doesn't get a job. The only place

380
00:22:28.319 --> 00:22:29.960
that's gonna go with CNN. You know that, And I

381
00:22:30.000 --> 00:22:32.839
know that, Okay, And she's gonna yabba and jabber and

382
00:22:33.440 --> 00:22:37.839
talk and nothing nothing that she ever said will will.

383
00:22:37.880 --> 00:22:43.880
I believe Ever, for years we listened to how he

384
00:22:44.079 --> 00:22:47.200
was energized and had all this stuff, and he knows

385
00:22:47.240 --> 00:22:52.200
what's going on all the time years and you know,

386
00:22:52.279 --> 00:22:54.039
and I know Joe Biden had a lot to do

387
00:22:54.119 --> 00:22:56.640
with all this, and you know that's the main reason

388
00:22:57.039 --> 00:23:00.559
too that he got parted. Now, all these the other ones,

389
00:23:00.640 --> 00:23:03.480
I don't understand it. Trying to part in other people

390
00:23:03.480 --> 00:23:06.880
that have not committed crimes yet. Hell no, And you

391
00:23:06.920 --> 00:23:09.319
know what, Let's move forward. I don't even want to

392
00:23:09.359 --> 00:23:11.400
go back and do this stuff. But here's the funny part.

393
00:23:12.559 --> 00:23:16.359
They talk about how the crimes that Hunter did should

394
00:23:16.400 --> 00:23:19.079
never have been brought. I'm going to tell you this.

395
00:23:20.119 --> 00:23:22.079
The crimes that they tried to get Trump on in

396
00:23:22.119 --> 00:23:24.079
New York that they're trying to put them in jail for,

397
00:23:26.279 --> 00:23:29.519
that was a bunch of hogwash. The banks didn't even

398
00:23:29.559 --> 00:23:31.799
want to pursue anything because it was nothing there to

399
00:23:31.839 --> 00:23:36.759
pursue evaluations that he put down. Anyone knows that if

400
00:23:36.759 --> 00:23:38.240
you're going to get a loan, the banks do their

401
00:23:38.240 --> 00:23:40.279
own evaluations and tell you what they're going to put

402
00:23:40.319 --> 00:23:43.680
down on there, not the statement that you give to them. Yes,

403
00:23:43.759 --> 00:23:45.839
so much real estate, he has so many other things.

404
00:23:45.880 --> 00:23:48.039
Give me a break, but yet you never want to

405
00:23:48.039 --> 00:23:50.119
look at Pelosi and see how they made all their

406
00:23:50.200 --> 00:23:52.599
hundreds of millions of dollars on stock trades and land

407
00:23:52.640 --> 00:23:56.279
trades and everything else that go on. The bottom line

408
00:23:56.359 --> 00:24:00.079
is it's two sides talking out of their mouths, and

409
00:24:00.119 --> 00:24:02.400
that's the problem. Let's get rid of it. Because as

410
00:24:02.440 --> 00:24:05.480
we move forward with this new Trump group, I believe

411
00:24:05.519 --> 00:24:08.240
regulations to cut taxes are coming down. We're gonna cut

412
00:24:08.279 --> 00:24:10.160
the ball, we're gonna stop the border. We're going to

413
00:24:10.160 --> 00:24:13.000
come up with great ideas. So anything that comes down

414
00:24:13.079 --> 00:24:16.000
between now and March is buying because the next three

415
00:24:16.079 --> 00:24:19.599
years I think are gonna be fantastic. We'll be back.

416
00:24:19.720 --> 00:24:22.680
It's the moneymat of Show, and I appreciate you all listening.

417
00:24:23.559 --> 00:24:26.119
Welcome back to the Money Matters Show. This is Dave Sherwt.

418
00:24:26.119 --> 00:24:29.200
I'm here with Sebastian Borsini. I've got Todd Clint Junior,

419
00:24:29.599 --> 00:24:32.279
and I've got Dylan Greenberg and I've got Dean Greenberg

420
00:24:32.319 --> 00:24:35.519
plowing around here and he'll be on shortly interesting week,

421
00:24:36.279 --> 00:24:39.200
very interesting week. I started to see, you know, this

422
00:24:39.440 --> 00:24:45.720
unrelenting Trump two point zero push higher is absolutely understandable.

423
00:24:45.920 --> 00:24:49.759
I mean, Trump the first term was a pro business president.

424
00:24:50.400 --> 00:24:52.240
There's gonna be some issues though, that are gonna come

425
00:24:52.359 --> 00:24:55.279
up that the market may not like, like tarros and

426
00:24:55.640 --> 00:24:59.720
things that it's getting a little frothy here.

427
00:25:00.119 --> 00:25:03.319
More concerned about the inflationary pressures we're still seeing.

428
00:25:03.519 --> 00:25:05.519
Yeah, I think so, And we're going to find out

429
00:25:05.559 --> 00:25:09.480
next week. We've got CPI on Wednesday, PPI on Thursday.

430
00:25:09.559 --> 00:25:11.319
Those are going to tell us a lot about where

431
00:25:11.319 --> 00:25:14.079
we're at. We don't know if we're going to see

432
00:25:14.119 --> 00:25:17.960
the weakness in housing start to enter in at that point,

433
00:25:18.039 --> 00:25:21.440
but we may one of the This is an interesting

434
00:25:21.519 --> 00:25:23.720
headline and it probably doesn't mean as much to you

435
00:25:23.799 --> 00:25:27.720
guys as it does to older guys, But Art Cashing.

436
00:25:28.079 --> 00:25:30.880
Did you see where Art Cashing passed away? Art Cashing

437
00:25:31.079 --> 00:25:34.559
is the Walter Cronkite of Wall Street. He would be

438
00:25:34.599 --> 00:25:37.279
on CNBC. If you watch CNBC, you know who Art

439
00:25:37.319 --> 00:25:42.039
Cashing is. He's been the voice of reason in unreasonable times,

440
00:25:42.480 --> 00:25:48.279
many many times. Just a calm, demeanor, intelligent guy who

441
00:25:48.440 --> 00:25:51.000
was on Wall Street for sixty years.

442
00:25:51.119 --> 00:25:51.319
Wow.

443
00:25:51.960 --> 00:25:54.000
He joined the New York Stock Exchange at the age

444
00:25:54.000 --> 00:25:57.720
of twenty three. Died last week at eighty three. And

445
00:25:58.000 --> 00:26:02.240
I will miss Art cashing. You was a special special

446
00:26:02.240 --> 00:26:02.799
started guy.

447
00:26:03.200 --> 00:26:06.720
Well, as you said, going back to the FED, they

448
00:26:06.799 --> 00:26:10.000
actually one of the FED members said that the issues

449
00:26:10.039 --> 00:26:14.200
with housing and the deterioration could eventually start to find

450
00:26:14.240 --> 00:26:16.759
itself in the CPI and inflation reports. And that's why

451
00:26:16.799 --> 00:26:18.839
they think that they have some legs to stand on

452
00:26:18.960 --> 00:26:22.720
to continue cutting rates. It doesn't seem like they should

453
00:26:22.759 --> 00:26:25.240
be at all. At the labor market seems to be fine.

454
00:26:25.559 --> 00:26:27.839
That seems to be their only thing that they're kind

455
00:26:27.839 --> 00:26:30.079
of laying their hat on is the labor market is

456
00:26:30.119 --> 00:26:34.799
softening somewhat, but it's still relatively strong, very strong based

457
00:26:34.799 --> 00:26:35.319
on history.

458
00:26:35.519 --> 00:26:37.519
Yeah, they did the fifty basis point cut a couple

459
00:26:37.640 --> 00:26:39.400
months ago, and we thought, oh, whether they see that,

460
00:26:39.440 --> 00:26:43.720
We don't see well nothing, I mean, it's everything's just

461
00:26:43.759 --> 00:26:44.240
going along.

462
00:26:44.359 --> 00:26:48.119
Just yeah, you're not seeing mass layoffs. If you want

463
00:26:48.160 --> 00:26:50.240
a job, it still seems like you can get a job.

464
00:26:51.119 --> 00:26:54.559
I don't see where the money is definitely available in

465
00:26:54.599 --> 00:26:55.119
the system.

466
00:26:55.359 --> 00:26:58.079
All right, Yeah, we have the FED meetium next week.

467
00:26:58.079 --> 00:26:59.440
Or is that December seventeenth?

468
00:26:59.480 --> 00:27:01.640
Thank you? Yeah, a couple of weeks yet a week

469
00:27:01.720 --> 00:27:04.440
another week and what a I think? On Friday it

470
00:27:04.440 --> 00:27:06.880
was an eighty percent chance they'll cut it, cut short

471
00:27:06.960 --> 00:27:10.319
term rates another quarter. Yeah, And of course the natural

472
00:27:10.319 --> 00:27:12.680
response is, well, why is that not making mortgage rates

473
00:27:12.759 --> 00:27:15.440
come down? We're talking short term rates. The FED can

474
00:27:15.559 --> 00:27:19.480
only control short term rates. The market controls long term rates,

475
00:27:19.519 --> 00:27:21.880
and the market doesn't agree with the Fed right now.

476
00:27:22.000 --> 00:27:25.319
Yeah, the tenure US industrate has actually been decreasing over

477
00:27:25.359 --> 00:27:29.039
the last several weeks because of some of the Trump's

478
00:27:29.079 --> 00:27:33.319
appointees potentially going to help reduce his inflationary policies, his

479
00:27:33.400 --> 00:27:38.079
Treasury secretary pick, and I believe also the FOMC, that's

480
00:27:38.119 --> 00:27:41.279
the Federal Open Market Committee. I'm talking about the there's

481
00:27:41.319 --> 00:27:43.480
a trade FTC, I think, oh yeah, yeah, yeah, the

482
00:27:43.519 --> 00:27:44.240
appointment for that.

483
00:27:44.480 --> 00:27:44.720
Yeah.

484
00:27:44.759 --> 00:27:46.960
So those two appointments the market kind of liked as

485
00:27:47.119 --> 00:27:50.960
potentially not as inflationary or help reduce what may be

486
00:27:51.119 --> 00:27:54.680
inflationary with some of Trump's policies, and so mortgage rates

487
00:27:54.720 --> 00:27:56.920
have decreased on the back of that. It's now around

488
00:27:56.960 --> 00:27:59.200
six point sixty nine, but it's a far cry from

489
00:27:59.200 --> 00:28:00.839
where they were in the low six is when the

490
00:28:00.839 --> 00:28:04.480
Fed actually starts six point six lines of FHA right now,

491
00:28:05.160 --> 00:28:05.960
the Freddie.

492
00:28:05.640 --> 00:28:09.599
Mac mortgage Yeah, that's conforming twenty percent down right.

493
00:28:09.720 --> 00:28:11.759
Yeah, yeah, that's the only way to get like a

494
00:28:11.759 --> 00:28:13.160
real standard average.

495
00:28:13.440 --> 00:28:15.640
And of course we're seasonally. We're seasonally in a period

496
00:28:15.680 --> 00:28:16.960
where real estate just goes dead.

497
00:28:17.720 --> 00:28:20.240
It makes sense, right if you're the holidays, he wants

498
00:28:20.279 --> 00:28:22.160
to buy a house in the middle of December.

499
00:28:21.839 --> 00:28:25.240
Fire cell house, and actually so looking at real estate

500
00:28:25.279 --> 00:28:27.079
over the next thirty days or so and trying to

501
00:28:27.119 --> 00:28:30.279
glean anything from it's probably not gonna get you anywhere.

502
00:28:30.839 --> 00:28:34.720
But oil has continue to decrease over the last seemingly

503
00:28:35.640 --> 00:28:39.519
four five months. That has to eventually see itself into inflation,

504
00:28:39.759 --> 00:28:40.480
and that will help.

505
00:28:40.880 --> 00:28:41.200
It will.

506
00:28:41.359 --> 00:28:43.200
But the other thing I would take from that is

507
00:28:43.240 --> 00:28:48.119
you don't generally see oil prices moving steadily lower when

508
00:28:48.160 --> 00:28:49.480
things are really great.

509
00:28:50.240 --> 00:28:52.799
The only thing you could make the case for is that, obviously,

510
00:28:52.839 --> 00:28:55.559
if things are going great and oil steadily lower, it

511
00:28:55.599 --> 00:28:57.640
means that there's more supply than needed.

512
00:28:58.160 --> 00:29:00.920
I get that. And that's a fair argument that that

513
00:29:01.000 --> 00:29:03.359
Trump will come in and his oil policies will mean

514
00:29:03.400 --> 00:29:06.039
a lot more supply and and so the price needs

515
00:29:06.079 --> 00:29:07.839
to come down. I get that. Then that's a that's

516
00:29:07.839 --> 00:29:09.599
a very reasonable argument.

517
00:29:09.400 --> 00:29:11.559
And isn't other countries. They're not kind of happy with

518
00:29:11.599 --> 00:29:14.839
their quotas that OPEC put on them, so they want

519
00:29:14.839 --> 00:29:17.079
to they might produce more than what they're supposed to.

520
00:29:17.119 --> 00:29:18.839
Produce, so they're happier. They're not happy.

521
00:29:18.920 --> 00:29:21.799
They're not happy. So you know, OPEC tells these countries

522
00:29:21.839 --> 00:29:24.160
what they're allowed to produce in terms of the unit.

523
00:29:24.200 --> 00:29:25.480
They wanted to produce more.

524
00:29:25.319 --> 00:29:27.920
And obviously they want to produce more at certain prices

525
00:29:27.920 --> 00:29:28.720
so they make more.

526
00:29:28.599 --> 00:29:30.799
Money, except for the Netherlands.

527
00:29:30.240 --> 00:29:34.480
But OPEC is trying to manage that supply, except which is.

528
00:29:34.400 --> 00:29:39.000
What consistently the happiest country in the world consistently, like

529
00:29:39.039 --> 00:29:40.680
every report. I don't know what's going on there.

530
00:29:40.599 --> 00:29:41.480
But oil.

531
00:29:42.119 --> 00:29:43.880
It also has to do with it has to be

532
00:29:44.359 --> 00:29:46.440
with being happy. It has to do with size of

533
00:29:46.960 --> 00:29:47.720
the country.

534
00:29:47.759 --> 00:29:48.839
That's probably a part of it.

535
00:29:48.920 --> 00:29:50.920
To Phoenix, I.

536
00:29:50.839 --> 00:29:51.799
Think it's like Delaware.

537
00:29:51.839 --> 00:29:55.799
Yeah, hey, if you got a lot of elbow room,

538
00:29:55.799 --> 00:29:56.680
you're going to be happy.

539
00:29:56.799 --> 00:29:59.839
I would be happy too. It's a beautiful country side too.

540
00:30:00.240 --> 00:30:01.799
Yeah. Before we go in here further going to do

541
00:30:01.880 --> 00:30:03.640
this disclaimer. The show is sponsored by the Green Brig

542
00:30:03.680 --> 00:30:05.559
Financial Group and you can listen on seven to ninety

543
00:30:05.599 --> 00:30:10.000
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544
00:30:10.039 --> 00:30:12.400
Every product and strategy have some type of inherent risk,

545
00:30:12.480 --> 00:30:15.000
and we strongly encourage our listeners to properly understand the

546
00:30:15.119 --> 00:30:18.920
risk that's a to determine whether to buy, sell, or hold.

547
00:30:19.279 --> 00:30:21.559
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548
00:30:21.559 --> 00:30:23.720
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549
00:30:23.759 --> 00:30:26.400
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550
00:30:26.440 --> 00:30:28.440
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551
00:30:28.880 --> 00:30:32.119
Good jobs bask. I think probably the big headline this

552
00:30:32.160 --> 00:30:35.759
week was bitcoin. Right, one hundred thousand dollars, one thousand

553
00:30:35.799 --> 00:30:39.119
dollars and on Thursday, go ahead Wednesday.

554
00:30:38.799 --> 00:30:41.960
Nights jobbing at todd he always talk about bitcoin.

555
00:30:42.119 --> 00:30:43.079
Yeah, yeah, superrappy.

556
00:30:43.279 --> 00:30:46.519
Well, it's interesting, it's crazy, it's over one hundred thousand.

557
00:30:46.839 --> 00:30:49.160
That's unbelievab all it ten dollars.

558
00:30:49.160 --> 00:30:51.039
This is a this is a fun one. Uh, they

559
00:30:51.039 --> 00:30:53.359
know the answer. But two years ago to the day

560
00:30:54.119 --> 00:30:56.079
that bitcoin crossed one hundred k, what was the prize

561
00:30:56.079 --> 00:30:56.319
of it?

562
00:30:57.799 --> 00:31:01.759
Uh, twenty thousand, good guess it?

563
00:31:02.519 --> 00:31:04.359
Eighteen it was sixteen thousand.

564
00:31:04.440 --> 00:31:07.480
Okay, we're closed, yeah, close in the ballpark. Sixteen thousand

565
00:31:07.839 --> 00:31:12.000
two years ago today. Two years ago today was sixteen thousand. Yeah, yeah,

566
00:31:12.039 --> 00:31:14.960
it's been, it's been amazing, and it is it's a

567
00:31:15.200 --> 00:31:17.839
kind of an indicator of this speculative nature of this

568
00:31:18.000 --> 00:31:19.200
market and how I.

569
00:31:19.119 --> 00:31:21.079
Just think also though, when you look at you know,

570
00:31:21.319 --> 00:31:23.799
Trump led this rally, that's fine to say, right from

571
00:31:23.839 --> 00:31:27.640
fifty thousand to here, you can definitely say that's the catalyst. Right,

572
00:31:27.720 --> 00:31:31.359
sure was the catalyst from sixteen to forty four. Right,

573
00:31:31.759 --> 00:31:34.400
Trump wasn't in, there's no talks of anything, no, and

574
00:31:34.400 --> 00:31:36.799
it still went higher, So there's something in it.

575
00:31:36.880 --> 00:31:39.599
I think a big part was the the ets that

576
00:31:39.640 --> 00:31:42.799
came out. Yeah, firns being able to create a ets

577
00:31:42.799 --> 00:31:45.960
that just follow it because the closed end funds that

578
00:31:46.000 --> 00:31:48.480
were out. Rayscale had them before, but they were closed ends,

579
00:31:48.759 --> 00:31:50.799
so it's better that they're not the spotty team.

580
00:31:50.839 --> 00:31:54.279
It just increases the adoption of it as a whole.

581
00:31:54.440 --> 00:31:55.960
All of a sudden, people can now buy it in

582
00:31:56.000 --> 00:31:58.640
their I raise, their regular investment accounts. They don't have

583
00:31:58.680 --> 00:32:00.519
to go to a crypto exchange. They can go to

584
00:32:00.559 --> 00:32:03.599
their traditional stock exchange and actually buy exposure to the asset.

585
00:32:03.720 --> 00:32:07.039
We talked buying it. I mean FBTC is fidelities Bitcoin

586
00:32:07.079 --> 00:32:10.000
at ECF and that's eighty eight dollars a share rather

587
00:32:10.039 --> 00:32:12.160
than trying to buy a whole bitcoin of one hundred grand.

588
00:32:12.640 --> 00:32:14.680
So makes I know, you can buy it in fractions,

589
00:32:14.680 --> 00:32:16.839
but it makes it a little simpler for most investors.

590
00:32:16.880 --> 00:32:20.039
And we were talking with these ets, with these inverse strategies,

591
00:32:20.240 --> 00:32:23.599
with these leverage strategies that you could use now options.

592
00:32:24.039 --> 00:32:26.759
This can lead to more price stability within bitcoin, wouldn't

593
00:32:26.799 --> 00:32:27.119
you say?

594
00:32:27.319 --> 00:32:31.279
Yeah, volatility products that are options actually bring more stability

595
00:32:31.359 --> 00:32:34.279
to an asset class over time. It won't happen immediately.

596
00:32:34.319 --> 00:32:36.559
Bitcoin will still be a very volatile asset, probably for

597
00:32:36.599 --> 00:32:39.680
the next ten years. But we're not talking about just

598
00:32:39.720 --> 00:32:41.759
ten years. I mean for people that are our age,

599
00:32:41.799 --> 00:32:43.519
we're talking about for the next sixty eighty years. And

600
00:32:43.559 --> 00:32:46.240
where are our currency is going to be in the future.

601
00:32:46.440 --> 00:32:48.119
What are we going to be using And if you

602
00:32:48.160 --> 00:32:50.480
look at history, we've never used one currency for all

603
00:32:50.480 --> 00:32:54.000
of human history. It's always changed, right, Actually the oldest

604
00:32:54.119 --> 00:32:57.319
currency lasted I think like eight hundred years or something

605
00:32:57.359 --> 00:33:00.839
like that. We always change the currency we use because

606
00:33:00.920 --> 00:33:04.039
new technology comes about. That's where I think eventually we'd

607
00:33:04.039 --> 00:33:06.079
see in this economy.

608
00:33:05.960 --> 00:33:08.640
It's possible, but in course of volatility right now makes

609
00:33:08.640 --> 00:33:11.079
it impossible to use as a currency. Just to give

610
00:33:11.119 --> 00:33:13.599
you an example, on Thursday alone, it went from ninety

611
00:33:13.640 --> 00:33:16.440
seven to one hundred and four thousand back to ninety

612
00:33:16.440 --> 00:33:19.839
seven on Thursday. So, I mean, yeah, I have I

613
00:33:19.880 --> 00:33:22.359
have a couple of calls from people in their late

614
00:33:22.400 --> 00:33:26.480
eighties when lady called and says, what about this crypto coin?

615
00:33:26.960 --> 00:33:29.440
You know what I'm thinking? Okay, so where shall we start?

616
00:33:29.640 --> 00:33:32.359
We had a seventy seven year old client on Friday.

617
00:33:32.680 --> 00:33:35.160
I want to get into it too. Yeah, she was

618
00:33:35.480 --> 00:33:36.359
like get her feet well.

619
00:33:36.200 --> 00:33:37.599
With Hey what she asked us a little doll and

620
00:33:37.640 --> 00:33:39.680
she's like, hey, when you buy a bitcoin, do you

621
00:33:39.680 --> 00:33:40.599
get an actual coin?

622
00:33:41.160 --> 00:33:41.359
Yeah?

623
00:33:41.359 --> 00:33:42.039
Like a gold coin?

624
00:33:42.119 --> 00:33:42.680
Do you get?

625
00:33:42.799 --> 00:33:43.000
You know?

626
00:33:43.119 --> 00:33:45.359
She wanted something hard that you get. It's something material.

627
00:33:45.599 --> 00:33:48.279
And remember two years ago Trump called her a scam.

628
00:33:48.920 --> 00:33:52.880
Jamie Diamond, the president of a CEO of a Chase,

629
00:33:53.480 --> 00:33:54.480
called it a scam.

630
00:33:54.640 --> 00:33:57.240
People have a really hard time understanding abstract.

631
00:33:57.440 --> 00:33:59.079
Absolutely, yeah, I got that.

632
00:33:59.160 --> 00:34:01.400
I mean think about it. Didn't understand the computer for

633
00:34:01.480 --> 00:34:03.799
fifteen years, and now it's it's.

634
00:34:03.920 --> 00:34:06.799
Changing from the status quote too which is what makes

635
00:34:06.839 --> 00:34:10.159
people nervous. And they've been knowing something for fifty sixty years,

636
00:34:10.239 --> 00:34:12.480
like those two, all of a sudden they're saying it's

637
00:34:12.480 --> 00:34:15.039
getting adopted. Their first instincts to say it's a scam.

638
00:34:15.400 --> 00:34:17.719
Deals with money every day. Jamie Diamond, he's gonna say

639
00:34:17.719 --> 00:34:18.400
it's a scam.

640
00:34:18.199 --> 00:34:20.440
Of course, But and it's also a threat to his

641
00:34:20.679 --> 00:34:22.679
business model, So it makes a lot of sense why

642
00:34:22.719 --> 00:34:23.880
he would want it to die.

643
00:34:24.000 --> 00:34:25.639
I mean, if you want to put two or three percent,

644
00:34:25.760 --> 00:34:27.480
two or three percent of your assets in at that,

645
00:34:27.639 --> 00:34:29.000
you know they have fun.

646
00:34:29.599 --> 00:34:31.199
But when we talk about two to three percent of

647
00:34:31.199 --> 00:34:33.079
our assets, right, you start to thinking, Okay, what if

648
00:34:33.079 --> 00:34:36.679
companies do that, that's that's the game change.

649
00:34:36.760 --> 00:34:38.599
No, I get it, and I don't know a.

650
00:34:38.639 --> 00:34:40.039
Bit twenty a few years ago, I don't if they.

651
00:34:40.000 --> 00:34:40.519
Still I don't know.

652
00:34:40.519 --> 00:34:42.599
They saw that. You know, you see these companies and

653
00:34:42.639 --> 00:34:46.280
they have hordes of cash. And if this invasion rates continue.

654
00:34:46.000 --> 00:34:48.320
That the fact that Tesla' stock went up twelve and

655
00:34:48.320 --> 00:34:50.719
a half percent last week, for right, the only reason

656
00:34:50.800 --> 00:34:53.480
is because a couple of firms increased their price target.

657
00:34:54.039 --> 00:34:57.440
Well, the interesting thing about Tesla is remember their business

658
00:34:57.840 --> 00:35:02.679
model has not changed, business has not gotten better. Business

659
00:35:02.800 --> 00:35:06.239
kind of sucks. And the stock has risen fifty percent

660
00:35:06.280 --> 00:35:10.199
since Trump was elected, strictly on the basis of wondering

661
00:35:10.280 --> 00:35:13.360
what wonderful thing Trump is going to do for Tesla

662
00:35:13.760 --> 00:35:17.000
to pay Musk back for his loyalty, and you don't know.

663
00:35:17.119 --> 00:35:18.840
I mean, it could be anything, something we've never even

664
00:35:18.880 --> 00:35:21.760
thought about, but obviously there's people out there. And the

665
00:35:21.840 --> 00:35:24.800
same with bitcoin. What kind of wonderful things is Trump

666
00:35:24.880 --> 00:35:28.519
going to do with bitcoin to repay his bitcoin supporters

667
00:35:28.679 --> 00:35:29.519
for getting him elected?

668
00:35:29.559 --> 00:35:31.320
Obviously he doesn't need to do anything. It's just going

669
00:35:31.400 --> 00:35:32.119
to rise.

670
00:35:31.880 --> 00:35:37.760
Anyone, rising ship or rising ship and all that. Anyway,

671
00:35:37.960 --> 00:35:40.039
we'll be back with the next segment of The Money

672
00:35:40.039 --> 00:35:42.719
Matter Show. We thank you for joining us. We'll be

673
00:35:42.840 --> 00:35:43.320
right back.

674
00:35:44.000 --> 00:35:45.840
Welcome back to the Money Matter Show. My name is

675
00:35:45.880 --> 00:35:48.480
Todd Glick. I'm here with Sebastian Boards, Sine, Dylan Greenberg,

676
00:35:48.559 --> 00:35:50.880
and David Sherwood. This week in the market, we had

677
00:35:50.880 --> 00:35:53.199
a fun one with the Nasdak hitting a new all

678
00:35:53.239 --> 00:35:54.920
time high as well as the S and P five hundred,

679
00:35:54.920 --> 00:35:57.159
But the Nasdak led the way big time this week.

680
00:35:57.159 --> 00:36:00.400
It was up three point three percent, led the way

681
00:36:00.440 --> 00:36:02.840
by a large margin. The closest second was the S

682
00:36:02.840 --> 00:36:05.159
and P five hundred one percent, but all the other

683
00:36:05.159 --> 00:36:07.440
indusses actually traded lower on the week. The Dow Jones

684
00:36:07.440 --> 00:36:09.880
down sixty base points, the Russel two thousand down one

685
00:36:09.880 --> 00:36:12.480
point two. That equate to down one point three. So

686
00:36:12.800 --> 00:36:15.639
the top ten names, that's that's where the money flowed

687
00:36:15.639 --> 00:36:17.199
to this week, and it was all tech.

688
00:36:17.360 --> 00:36:20.400
It was all about tech this week. A bitcoin obviously

689
00:36:20.440 --> 00:36:21.960
got the headlines, but it.

690
00:36:21.880 --> 00:36:23.760
Was all about tech minus and video.

691
00:36:24.239 --> 00:36:27.159
Uh, in Vidia didn't participate. That's true. But you know,

692
00:36:27.199 --> 00:36:30.280
and I looked at the five trading days, right, the

693
00:36:30.400 --> 00:36:33.960
Dow was up the thirty stock Dow was up one day,

694
00:36:35.199 --> 00:36:39.239
the Nasdaq one hundred, The tech stocks were down one day.

695
00:36:39.800 --> 00:36:41.880
They were up four out of five. Dow was down

696
00:36:41.920 --> 00:36:45.079
four out of five. Uh. The equal weight to the RSP,

697
00:36:45.199 --> 00:36:47.079
the equal weighted S and P five hundred down one

698
00:36:47.119 --> 00:36:49.440
point three percent on the week. That tells you that

699
00:36:49.519 --> 00:36:52.159
the overall market was soft last week. So if you

700
00:36:52.199 --> 00:36:54.880
look at your account versus last week and you're down,

701
00:36:55.400 --> 00:36:58.239
it's probably where it should be. The market did actually

702
00:36:58.280 --> 00:37:01.159
move down a little bit by S and P five

703
00:37:01.239 --> 00:37:03.079
hundred hitting all time high. Yeah.

704
00:37:03.119 --> 00:37:05.039
If you're more of a balance account, that probably happened.

705
00:37:05.039 --> 00:37:07.000
But if you're more of a growth oriented account, you

706
00:37:07.079 --> 00:37:08.360
probably gained last week.

707
00:37:08.480 --> 00:37:11.920
That would be yeah, goodyear exposure. Yeah right, yeah, sure,

708
00:37:12.039 --> 00:37:13.000
exposure to exactly.

709
00:37:13.039 --> 00:37:14.599
And when you look at the price, the earnings ratio

710
00:37:14.679 --> 00:37:19.159
the SMP, it is above historical norms, and that's that's

711
00:37:19.199 --> 00:37:21.199
a concern. Eventually you're going to see some type of

712
00:37:21.239 --> 00:37:23.920
pullback there. You just have to find a catalyst that's

713
00:37:23.920 --> 00:37:25.599
gonna initiate that trade.

714
00:37:25.679 --> 00:37:28.719
And there's a there's an no old same value valuation

715
00:37:28.840 --> 00:37:31.360
doesn't matter until it does right right, and then will

716
00:37:31.400 --> 00:37:32.880
come a point where it will matter. And then they

717
00:37:32.920 --> 00:37:35.440
started looking at these valuations going, holy count, what what

718
00:37:35.480 --> 00:37:36.440
am I doing in this thing?

719
00:37:36.800 --> 00:37:39.039
I saw that in twenty twenty two. Yeah, yeah, the

720
00:37:39.079 --> 00:37:41.280
evaluation matter from twenty twenty to twenty twenty one, and

721
00:37:41.280 --> 00:37:42.599
then all of a sudden they did, and we saw

722
00:37:42.599 --> 00:37:43.199
a big drop.

723
00:37:43.639 --> 00:37:45.320
The S and P five hundred right now is about

724
00:37:45.320 --> 00:37:47.280
ten and a half percent above the two hundred day

725
00:37:47.320 --> 00:37:50.360
moving average. Twelve has been the highest we've seen it

726
00:37:50.400 --> 00:37:52.239
over the last couple of years. That was last July

727
00:37:52.960 --> 00:37:56.119
before it took a ten percent. Header, we're getting close.

728
00:37:56.920 --> 00:38:01.440
There's more upside to go. Maybe one last thing on bitcoin, Todd,

729
00:38:01.480 --> 00:38:03.920
I think you would agree. Six months from now, it's

730
00:38:04.320 --> 00:38:07.079
close Friday, but I didn't closed. It never closes. But

731
00:38:07.119 --> 00:38:09.719
it was around one hundred and one thousand. Uh. Six

732
00:38:09.760 --> 00:38:11.400
months from now, could be one hundred and fifty thousand.

733
00:38:11.760 --> 00:38:14.400
It could be fifty thousand. I don't think anybody knows

734
00:38:14.519 --> 00:38:15.559
you no.

735
00:38:15.639 --> 00:38:17.320
I mean I've said for a while I think it

736
00:38:17.400 --> 00:38:21.159
will go to one twenty. I think if it goes

737
00:38:21.320 --> 00:38:24.159
super crazy, it could go up to the high two hundreds,

738
00:38:24.199 --> 00:38:26.360
and then it's going to crash in the late twenty five,

739
00:38:27.000 --> 00:38:29.719
early twenty six. It's gonna crash how it always does.

740
00:38:29.840 --> 00:38:31.440
It'd be about a seventy percent crash.

741
00:38:31.920 --> 00:38:33.440
Seventy yeah. Wow.

742
00:38:33.719 --> 00:38:35.920
Which if it crashes like that again, you think, okay,

743
00:38:35.920 --> 00:38:37.239
it's another buy an opportunity.

744
00:38:37.519 --> 00:38:37.920
I find it.

745
00:38:37.960 --> 00:38:39.079
We're seeing these waves.

746
00:38:39.280 --> 00:38:40.679
Yeah, I'm I done. I'm kind of with you that

747
00:38:41.000 --> 00:38:43.440
I think there's so many people that would like to

748
00:38:43.480 --> 00:38:46.719
be in this space suddenly that it's gonna be hard

749
00:38:46.719 --> 00:38:47.119
for it to.

750
00:38:47.119 --> 00:38:49.239
Crk about it like this. In twenty seventeen, the high

751
00:38:49.280 --> 00:38:53.079
for bitcoin was eighteen thousand okay, and then subsequently in

752
00:38:53.119 --> 00:38:55.559
twenty twenty ran up to sixty four thousand and then

753
00:38:55.639 --> 00:39:00.199
dropped all the way down to sixteen thousand. Okay, are

754
00:39:00.199 --> 00:39:03.000
around the old high, right, this time it runs all

755
00:39:03.039 --> 00:39:05.280
the way up to whatever it runs up to. It

756
00:39:05.320 --> 00:39:08.079
probably drops down to the previous high, which was around

757
00:39:08.119 --> 00:39:10.119
that sixty fifty thousand dollars level.

758
00:39:10.239 --> 00:39:13.079
The one thing we know is it does move dramatically

759
00:39:13.119 --> 00:39:16.559
in both directions. Yes, and so it is a speculative investment.

760
00:39:16.920 --> 00:39:20.639
It is only for speculative money. And I even hesitate

761
00:39:21.000 --> 00:39:21.880
I call it this way.

762
00:39:22.519 --> 00:39:24.960
No bitcoin investment has lost money if you hold over

763
00:39:25.000 --> 00:39:27.960
a four year period, So don't invest money that you need.

764
00:39:28.320 --> 00:39:31.519
I think you could say on Friday that anyone who's

765
00:39:31.519 --> 00:39:34.159
ever bought bitcoin is up and held.

766
00:39:34.360 --> 00:39:37.119
Yes, you have to hold, but yeah, there's.

767
00:39:36.920 --> 00:39:38.320
Probably were a few people that bought it at one

768
00:39:38.360 --> 00:39:41.000
hundred and and one hundred and three and one oh

769
00:39:41.079 --> 00:39:43.280
three eight, I think as high as a got. Yeah,

770
00:39:43.320 --> 00:39:45.320
there are some people that bought there, they're probably down.

771
00:39:45.400 --> 00:39:48.079
But for the most part, ninety nine percent of people

772
00:39:48.079 --> 00:39:49.719
who have ever bought bitcoin are up.

773
00:39:49.840 --> 00:39:52.079
But it's it's saying that even with the volatility, if

774
00:39:52.119 --> 00:39:53.880
you hold over a four year period, you will be

775
00:39:53.960 --> 00:39:56.960
up and any four year period in bitcoin's history. So

776
00:39:57.199 --> 00:39:59.760
the idea is you don't invest money that you need

777
00:39:59.800 --> 00:40:01.840
in the next five years, even ten years. This should

778
00:40:01.840 --> 00:40:03.920
be a very very long term asset, and don't make

779
00:40:03.960 --> 00:40:06.960
it more than, like you said, five to ten percent.

780
00:40:07.320 --> 00:40:09.400
Yeah, just be careful out there with this one. This

781
00:40:09.559 --> 00:40:12.639
is speculative and if you have money. I had a

782
00:40:12.639 --> 00:40:15.920
gal call me and she I've talked about her before.

783
00:40:15.960 --> 00:40:18.119
She has to sell her home because of financial issues,

784
00:40:18.159 --> 00:40:20.119
and she's trying to sell it and had been having

785
00:40:20.119 --> 00:40:23.320
no luck selling it and price has dropped about forty

786
00:40:23.360 --> 00:40:27.039
percent since she started listening. She did list it too high, okay,

787
00:40:27.079 --> 00:40:31.199
and full disclosure. But she called today and said, you know,

788
00:40:31.199 --> 00:40:33.000
with Trump getting elected and all, should I be going

789
00:40:33.039 --> 00:40:34.880
back into the market. I said, can you afford to

790
00:40:34.920 --> 00:40:35.639
lose ten percent?

791
00:40:35.760 --> 00:40:35.840
No?

792
00:40:36.000 --> 00:40:37.960
I can't. I can't afford to lose a penny. Well,

793
00:40:38.119 --> 00:40:39.320
there you answered your own question.

794
00:40:39.480 --> 00:40:42.719
Yeah, I think another before we move on lastly on

795
00:40:42.719 --> 00:40:44.400
the bitcoin subject, I actually am.

796
00:40:44.400 --> 00:40:44.639
Now.

797
00:40:45.320 --> 00:40:48.480
I have a bank that will I will send my

798
00:40:48.559 --> 00:40:51.239
direct deposit to my paycheck and then I can get

799
00:40:51.239 --> 00:40:55.079
paid in bitcoin. They'll immediately convert it, so I'll have

800
00:40:55.159 --> 00:40:58.639
like twenty percent of paycheck automatically going. You can even

801
00:40:58.639 --> 00:41:00.840
have one hundred percent of you paycheck go straight into bitcoin.

802
00:41:01.440 --> 00:41:03.599
There's a lot more products that are coming out where

803
00:41:03.639 --> 00:41:05.760
you can actually use your bitcoin in the regular world.

804
00:41:05.920 --> 00:41:08.199
I can even pay my mortgage and things like that.

805
00:41:08.199 --> 00:41:11.920
Because your creator's creating demand for bitcoin.

806
00:41:12.679 --> 00:41:15.159
Yeah, I mean using it, yeah, creating the demand for

807
00:41:15.199 --> 00:41:16.280
it as a transaction piece.

808
00:41:16.360 --> 00:41:16.519
Yeah.

809
00:41:16.559 --> 00:41:18.039
Yeah. I mean if you're if you're willing to get

810
00:41:18.039 --> 00:41:20.599
paid in bitcoin, then they obviously have to convert dollars

811
00:41:20.639 --> 00:41:21.159
to bitcoin.

812
00:41:21.280 --> 00:41:23.599
Yeah, And that's what that company does. They take care

813
00:41:23.639 --> 00:41:25.599
of the conversion for you to make it your scene.

814
00:41:25.719 --> 00:41:25.960
Yeah.

815
00:41:26.079 --> 00:41:28.440
Interesting, that's what some NFL players did a few years ago.

816
00:41:28.519 --> 00:41:30.119
They got their contract.

817
00:41:30.079 --> 00:41:33.039
That they worked with that company specific did they strike, Yeah, oh,

818
00:41:33.079 --> 00:41:33.840
the same company.

819
00:41:33.960 --> 00:41:34.280
Yeah.

820
00:41:34.480 --> 00:41:35.599
Like Saquon Barkley was.

821
00:41:35.559 --> 00:41:37.400
One of the big ones, Squon Odell And then this

822
00:41:37.559 --> 00:41:39.960
lineman for the Panthers got six and a half million

823
00:41:39.960 --> 00:41:43.119
dollars put into bitcoin. Everybody thought he was stupid. Now

824
00:41:43.119 --> 00:41:45.199
it's worth twenty four and a half million. He said

825
00:41:45.239 --> 00:41:47.719
his mom when the uh, he puts some money in

826
00:41:47.760 --> 00:41:50.920
there for for her and she called him when a

827
00:41:51.000 --> 00:41:52.880
crash and was like, please sell, I don't want this,

828
00:41:52.960 --> 00:41:54.519
and he's like, I lied and told her I did,

829
00:41:54.519 --> 00:41:55.079
but I never did.

830
00:41:55.599 --> 00:41:56.840
That's me fun?

831
00:41:57.400 --> 00:42:00.320
How fun is that? That's so? That's so cool. The

832
00:42:00.360 --> 00:42:03.599
inter true is pretty flat down around or four point one.

833
00:42:03.679 --> 00:42:05.519
If you want a one year treasury up to an

834
00:42:05.559 --> 00:42:08.679
eight year treasury, it's all about four point one. At

835
00:42:08.679 --> 00:42:10.639
ten years it gets to a four point one five,

836
00:42:10.760 --> 00:42:13.519
So very flat yield curve. Is it going to go

837
00:42:13.519 --> 00:42:17.920
inverted again? Who knows? Good? Widened out a little bit

838
00:42:17.960 --> 00:42:20.199
this week, so yeah, oil was down a dollar around

839
00:42:20.199 --> 00:42:22.440
a week to sixty seven bucks. Todd, you mentioned that

840
00:42:22.440 --> 00:42:24.239
I saw gold was down twenty dollars.

841
00:42:24.880 --> 00:42:28.199
Saw some interesting things about China over the week and

842
00:42:28.280 --> 00:42:32.000
how bad their protests that have been getting over there,

843
00:42:32.000 --> 00:42:34.280
because you don't really hear about protests in China because

844
00:42:35.760 --> 00:42:39.599
they're well, they're not really short lived. It's more of

845
00:42:39.679 --> 00:42:41.239
just like they're not going to let you hear about it, right,

846
00:42:41.320 --> 00:42:43.159
China doesn't want to look bad to the world. They

847
00:42:43.239 --> 00:42:46.679
kind of control what comes out of that country. They're communists.

848
00:42:46.920 --> 00:42:50.079
So the question is is how do these numbers even

849
00:42:50.559 --> 00:42:52.519
are they even to find them? It's independent journalists on

850
00:42:52.559 --> 00:42:55.000
the ground that try to like get these numbers, but

851
00:42:55.039 --> 00:42:57.639
it says that they're up like like thirty percent year

852
00:42:57.639 --> 00:43:01.079
over year on protests for financial reasons and political reasons.

853
00:43:01.119 --> 00:43:03.519
So the people in China aren't happy, and it's because

854
00:43:03.559 --> 00:43:07.039
of obviously what's going on in the residential sector in

855
00:43:07.079 --> 00:43:09.880
that space and has just brought down a lot of consumption,

856
00:43:10.320 --> 00:43:14.000
which probably leads to some of the oil reduction and

857
00:43:14.079 --> 00:43:15.679
supply on the global scale.

858
00:43:15.920 --> 00:43:18.119
Yeah, the demand out of China is certainly down, and

859
00:43:18.239 --> 00:43:20.239
that's that's one of the things that kind of kept

860
00:43:20.280 --> 00:43:23.199
oil down in the low seventies. And of course Trump

861
00:43:23.239 --> 00:43:27.320
getting elected certainly should mean more supply here in the

862
00:43:27.440 --> 00:43:30.480
United States, even though Todd, you've mentioned before we're producing

863
00:43:30.519 --> 00:43:32.400
more oil in the United States than we have ever

864
00:43:32.480 --> 00:43:33.360
produced in history.

865
00:43:33.400 --> 00:43:34.559
I mean, I'll have to check that again.

866
00:43:35.039 --> 00:43:36.840
Well you could, I mean, you could you open up

867
00:43:36.840 --> 00:43:39.719
the Keystone pipeline. I mean, you can crank it up.

868
00:43:40.239 --> 00:43:42.320
We definitely have an ability in America to produce more

869
00:43:42.360 --> 00:43:43.519
than what we're even doing now.

870
00:43:43.480 --> 00:43:45.599
Sitting on the largest oil reserves in the world, right,

871
00:43:46.159 --> 00:43:46.719
you know, and.

872
00:43:46.639 --> 00:43:48.599
With technology it makes it easy and easy to bring

873
00:43:48.639 --> 00:43:52.079
these type of projects to market at a profitable level.

874
00:43:52.480 --> 00:43:54.320
So I think one of the more interesting stories are

875
00:43:54.400 --> 00:43:56.119
One of the more shocking stories of the week was

876
00:43:56.119 --> 00:44:00.719
that United Healthcare ceo, fifty year old guy leaving his

877
00:44:00.840 --> 00:44:04.320
hotel walking to another hotel nearby that had where they

878
00:44:04.320 --> 00:44:08.519
were having their annual shareholders meeting, and somebody in a

879
00:44:08.519 --> 00:44:12.800
hoodie comes out of nowhere and killed him. The bullets

880
00:44:13.519 --> 00:44:18.360
that he used were engraved with the word deny, which

881
00:44:18.440 --> 00:44:23.599
tells you that obviously Unite Healthcare denied some type of

882
00:44:23.639 --> 00:44:27.920
acclaim for someone this guy is close to. But this

883
00:44:28.000 --> 00:44:30.679
is a fifty year old CEO, and to get to

884
00:44:30.719 --> 00:44:34.880
that level at age fifty, that's pretty darning impressive. So

885
00:44:34.920 --> 00:44:39.039
he was obviously an impressive guy, and somebody took it out.

886
00:44:39.079 --> 00:44:41.960
And I promise you he knew nothing about this guy

887
00:44:42.039 --> 00:44:45.079
that killed him, or this guy's situation that killed him.

888
00:44:45.280 --> 00:44:47.559
He's the CEO of the company. He's not working on

889
00:44:47.599 --> 00:44:51.960
the ground in wherever this happened. Supposedly came from the

890
00:44:51.960 --> 00:44:55.519
southfit but absolutely shot him dead. And you know the

891
00:44:55.599 --> 00:44:58.440
weird part that particular day had happened in the morning.

892
00:44:58.639 --> 00:45:02.480
I think it was six day Yeah, yeah, yeah, yeah,

893
00:45:02.480 --> 00:45:03.840
it happened first thing in the morning, and then the

894
00:45:03.880 --> 00:45:05.000
stock didn't react at all.

895
00:45:05.519 --> 00:45:07.519
It did it was down like six percent.

896
00:45:07.679 --> 00:45:10.880
No that day, that day finished up up a couple

897
00:45:10.880 --> 00:45:11.119
of points.

898
00:45:11.480 --> 00:45:12.559
I saw it, and the next.

899
00:45:12.480 --> 00:45:15.159
Day doing down, and the next day down. So it

900
00:45:15.280 --> 00:45:17.239
lost ten percent over the next two days. But I thought,

901
00:45:17.400 --> 00:45:20.440
this is the weird reaction. Your ceo gets murdered on

902
00:45:20.519 --> 00:45:24.000
the streets of Manhattan and your stock doesn't react.

903
00:45:23.679 --> 00:45:25.199
Doesn't get affected whatsoever.

904
00:45:25.280 --> 00:45:27.320
Yeah, you go look on Instagram and stuff and look

905
00:45:27.360 --> 00:45:29.440
at comments about videos like you go to a new

906
00:45:29.519 --> 00:45:31.760
station and they have that story up there. People are

907
00:45:31.800 --> 00:45:35.239
calling that guy who shot him a hero because the

908
00:45:35.320 --> 00:45:39.880
CEO was big, bad insurance guy, so he deserves to

909
00:45:39.920 --> 00:45:42.119
die because of claims that other people did. Wow, you

910
00:45:42.119 --> 00:45:44.039
guys got like social media makes it so much that

911
00:45:44.079 --> 00:45:47.079
you get lack of empathy for people. It's insane and

912
00:45:47.119 --> 00:45:49.000
that's a big issue that we've been having the last

913
00:45:49.039 --> 00:45:51.639
few years. This is evident right there, and they don't

914
00:45:51.679 --> 00:45:54.039
care that guy just walked up in the streets and

915
00:45:54.079 --> 00:45:54.840
shot a guy dead.

916
00:45:55.159 --> 00:45:58.800
Don't care, right, like David saying, it's not the like

917
00:45:58.840 --> 00:46:01.800
he's not on the ground work. No, No, he's not

918
00:46:01.840 --> 00:46:02.719
the one denying claims.

919
00:46:02.719 --> 00:46:05.639
No, he's not denying claims. He's not handling claims at all.

920
00:46:05.960 --> 00:46:06.960
He's trying to run.

921
00:46:06.880 --> 00:46:07.559
Someone who does that.

922
00:46:07.840 --> 00:46:10.440
It's okay because he's a rich that's a rich CEO.

923
00:46:10.480 --> 00:46:12.039
That is what they're saying. But like a regular guy

924
00:46:12.039 --> 00:46:14.760
in Manhattan, I got shot killed the same way. He

925
00:46:14.800 --> 00:46:16.639
doesn't get the news press like this, So they're saying

926
00:46:16.800 --> 00:46:19.239
it doesn't matter that this guy died, is what people

927
00:46:19.280 --> 00:46:19.599
were saying.

928
00:46:19.599 --> 00:46:22.159
It was like I actually I had my first experience

929
00:46:22.199 --> 00:46:24.599
with that on Friday, doing what you're exactly what you're saying.

930
00:46:24.599 --> 00:46:27.320
I had a client call and said, well, you know,

931
00:46:27.440 --> 00:46:30.360
people out there need to understand that when we've had

932
00:46:30.360 --> 00:46:32.039
it now, we're going to take these things into her

933
00:46:32.079 --> 00:46:34.599
own hands. I think that that kind of sounds like

934
00:46:34.639 --> 00:46:39.119
you're thinking this is okay, which it isn't okay in

935
00:46:39.119 --> 00:46:41.880
any way, shape or form. If you think about this guy,

936
00:46:41.920 --> 00:46:43.960
you think about his family, you think about his children,

937
00:46:44.880 --> 00:46:48.280
and obviously he was a he was a rising star

938
00:46:49.000 --> 00:46:51.719
to be the CEO of a major company like that

939
00:46:51.800 --> 00:46:55.400
at age fifty. Whatever you think about the company, whatever

940
00:46:55.400 --> 00:46:58.360
you think about the insurance industry, I think you have

941
00:46:58.440 --> 00:47:01.480
to just stop and kind of take inventory of yourself.

942
00:47:01.480 --> 00:47:04.079
If you're thinking it's okay to shoot somebody dead on

943
00:47:04.119 --> 00:47:06.559
the streets of Manhattan because of the industry that they're

944
00:47:06.559 --> 00:47:08.360
employee buy, it's horrible. I know.

945
00:47:08.760 --> 00:47:11.280
It just seems we should tell that to the the

946
00:47:11.320 --> 00:47:12.559
war industry.

947
00:47:13.559 --> 00:47:15.480
Well, we're coming up on it. We're coming up on

948
00:47:15.519 --> 00:47:17.320
it on a hard break here halfway through.

949
00:47:17.519 --> 00:47:18.039
What the heck?

950
00:47:18.159 --> 00:47:22.079
Todd? You get him out there? He always always leaving

951
00:47:22.159 --> 00:47:24.840
up to Todd right to come in again. We thank

952
00:47:24.840 --> 00:47:28.039
you for joining us. We'll be back right after this message.

953
00:47:28.679 --> 00:47:31.000
Welcome back to the second hour of the Money Matters Show.

954
00:47:31.039 --> 00:47:33.400
I'm Dylan Greenberg here with Todd glicks A bashing boards

955
00:47:33.519 --> 00:47:36.559
Anddan Greenberg and Dave Sherwood. For those of you just

956
00:47:36.559 --> 00:47:39.079
tuning in. The Dow was downero point six percent for

957
00:47:39.119 --> 00:47:41.519
the week, The SMP was up a percent, the Nasdaq

958
00:47:41.599 --> 00:47:44.039
was up three point three percent, the Russell two thousand

959
00:47:44.119 --> 00:47:46.360
was down one point two percent, and the RSP, which

960
00:47:46.400 --> 00:47:49.119
is the equal weighted SMP five hundred, was down one

961
00:47:49.159 --> 00:47:49.960
point three percent.

962
00:47:51.039 --> 00:47:53.159
We got to go ahead any good.

963
00:47:53.679 --> 00:47:55.239
No, I was just gonna say, you're the date we're

964
00:47:55.280 --> 00:47:56.800
coming up in the last few weeks of the year

965
00:47:56.960 --> 00:47:59.280
are sm P five hundred was up twenty seven point

966
00:47:59.320 --> 00:48:02.760
seven percent so far for the it's amazing. Nasdak, which

967
00:48:02.760 --> 00:48:05.159
is tech heavy, is up thirty two percent, Russell two

968
00:48:05.199 --> 00:48:08.840
thousands of nineteen percent, and the RSP is up seventeen percent.

969
00:48:09.119 --> 00:48:10.719
I think it's just had a great year.

970
00:48:11.000 --> 00:48:12.840
Yeah, I mean Nas they got forty percent off the

971
00:48:12.880 --> 00:48:17.719
low YEP, so fifty two week forty two forty percent increase.

972
00:48:17.840 --> 00:48:21.639
In a year. That's that's just absolutely absolutely unbelievable. Hey,

973
00:48:21.679 --> 00:48:23.719
had Trump Junior. You see how Trump Junior is getting

974
00:48:23.760 --> 00:48:26.800
some jobs. Ut there Now, Biden j got part in,

975
00:48:27.239 --> 00:48:29.719
He's going with Trump. He's got jump. Trump's heard. Yeah,

976
00:48:29.760 --> 00:48:32.599
Biden Junior gets against a walking and Trump Junior. If

977
00:48:32.599 --> 00:48:35.320
you want your stock price to get a boost, either

978
00:48:35.440 --> 00:48:40.079
mentioned AI or say Donald Trump Junior is joining your board. YEP.

979
00:48:40.440 --> 00:48:43.599
Last week, PSQ Holdings, which is a penny stock, which

980
00:48:43.639 --> 00:48:46.440
is down about sixty seven percent in the last twelve months,

981
00:48:46.679 --> 00:48:50.280
tripled on Tuesday after Bloomberg says Trump Junior is going

982
00:48:50.360 --> 00:48:52.920
to join their boards. Same thing happened. Remember this last

983
00:48:52.920 --> 00:48:55.639
week with uh, what is it called unusual machines?

984
00:48:55.880 --> 00:48:56.000
Oh?

985
00:48:56.079 --> 00:48:56.880
Yeah, what's the company.

986
00:48:57.039 --> 00:49:00.000
He said he was going to drones they make drone

987
00:49:00.159 --> 00:49:04.119
that he was going to join their board and uh

988
00:49:04.199 --> 00:49:07.920
and that stock when it's crazy that I think that

989
00:49:07.920 --> 00:49:10.239
that's one of the one of the ways you you

990
00:49:10.280 --> 00:49:12.519
can get your stock to rally is just get Downaldrum

991
00:49:12.679 --> 00:49:13.559
Junior on your board.

992
00:49:13.679 --> 00:49:16.960
Isn't that so interesting though? That like, it's crazy that

993
00:49:17.000 --> 00:49:19.679
the president can just pardon whoever he wants.

994
00:49:19.679 --> 00:49:21.400
Pretty cool. It's a power.

995
00:49:21.599 --> 00:49:22.119
What power?

996
00:49:22.159 --> 00:49:23.840
I was thinking about the one thing that.

997
00:49:23.880 --> 00:49:26.000
We still have to figure out, and we and we're

998
00:49:26.000 --> 00:49:27.920
going to figure that. We're going to find out can

999
00:49:27.960 --> 00:49:28.960
you pardon yourself?

1000
00:49:29.480 --> 00:49:31.400
We're going to find that out on January twenty first.

1001
00:49:31.440 --> 00:49:32.679
I think we'll find out very quick.

1002
00:49:32.719 --> 00:49:33.280
How can you not?

1003
00:49:33.800 --> 00:49:34.039
Why?

1004
00:49:34.079 --> 00:49:34.719
Why would you know?

1005
00:49:35.159 --> 00:49:37.239
Can you part? You can pardon anybody? Right? Can you

1006
00:49:37.280 --> 00:49:38.320
parton yourself? Why not?

1007
00:49:38.920 --> 00:49:40.519
And there are a lot of Democrats that are pissed

1008
00:49:40.519 --> 00:49:42.840
off and Biden for doing that. Oh yeah, And it's

1009
00:49:42.920 --> 00:49:44.800
just kind of staying on his presidency. He is kind

1010
00:49:44.800 --> 00:49:46.400
of opens it up for Trump to parton himself.

1011
00:49:46.400 --> 00:49:51.400
Like you say, oh yeah, I guess the Democrats are

1012
00:49:51.480 --> 00:49:54.880
just so salty about everything. Look, it's that's the power.

1013
00:49:55.199 --> 00:49:57.360
It's been in the Constitution for two hundred and fifty years.

1014
00:49:58.679 --> 00:50:02.039
Nobody's going to change it now, But anybody does listening

1015
00:50:02.079 --> 00:50:05.440
to this. Okay, you're in your eighties. Your son, who's

1016
00:50:05.519 --> 00:50:09.599
probably around sixty, has got himself in a real bunch

1017
00:50:09.599 --> 00:50:12.320
of trouble, and you can make it go away. You

1018
00:50:12.320 --> 00:50:14.519
were in your eighties. Why wouldn't you do it? You

1019
00:50:14.639 --> 00:50:15.440
who wouldn't do it?

1020
00:50:15.519 --> 00:50:18.519
Yeah, you would do it. There's a lot of political

1021
00:50:18.559 --> 00:50:20.199
heads on the left that are pissed off.

1022
00:50:20.239 --> 00:50:21.760
Oh, they can yell and scream all they want, but

1023
00:50:21.800 --> 00:50:23.280
I'm telling you that that.

1024
00:50:23.599 --> 00:50:26.360
Yeah, anyone in that position, eighty year.

1025
00:50:26.239 --> 00:50:28.320
Olds listening would do the exact same thing. Yeah.

1026
00:50:28.599 --> 00:50:31.280
It's just a really interesting power to have because it

1027
00:50:31.320 --> 00:50:34.159
seems like it could get around some things.

1028
00:50:34.159 --> 00:50:35.119
The ultimate power, isn't it?

1029
00:50:35.159 --> 00:50:35.599
A little bit?

1030
00:50:36.199 --> 00:50:38.199
So, how do you think the biggest tech winners over

1031
00:50:38.239 --> 00:50:40.880
the last two years? What would be your guest and video?

1032
00:50:41.000 --> 00:50:44.159
Video and video? Right, Well, that's a good guess, because

1033
00:50:44.199 --> 00:50:47.800
then video is up seven and twenty one percent in

1034
00:50:47.840 --> 00:50:48.639
the last two years.

1035
00:50:48.679 --> 00:50:51.000
That's not enough to beat that. It's good enough for

1036
00:50:51.079 --> 00:50:54.280
number two. Yeah, it's good enough for number two. Let's

1037
00:50:54.280 --> 00:50:57.280
see number one. I'm gonna say, let's guess Meta, you.

1038
00:50:57.280 --> 00:50:59.639
Never could get it. I wouldn't have gotten it Bird if.

1039
00:51:01.320 --> 00:51:02.559
It makes this all really happen.

1040
00:51:02.599 --> 00:51:06.760
One number one, up seven, up seven, and sixty one percent.

1041
00:51:07.119 --> 00:51:10.639
Verdiev is a company that makes these cooling tours go

1042
00:51:10.639 --> 00:51:14.280
go around these really high powered ships that tend to

1043
00:51:14.360 --> 00:51:19.039
run very, very hot, and Verdiev has the number one

1044
00:51:19.079 --> 00:51:21.559
performing tech stock over the last two years.

1045
00:51:21.559 --> 00:51:21.719
Now.

1046
00:51:21.760 --> 00:51:24.320
We've been trying to have a buying opportunity for that

1047
00:51:24.440 --> 00:51:26.159
company for the last few months. It was at like

1048
00:51:26.199 --> 00:51:28.920
sixty dollars in the summer and it's just hasn't had

1049
00:51:28.920 --> 00:51:31.320
a break. It's at one thirty now. It's just been

1050
00:51:31.360 --> 00:51:33.639
tough to buy. But it's you feel like it will

1051
00:51:33.679 --> 00:51:35.679
be a pullback, is what we've been feeling, but there

1052
00:51:35.679 --> 00:51:37.480
hasn't been, and it's when it's the bottom.

1053
00:51:37.559 --> 00:51:39.440
Dylan and I were talking about verdiv and a meeting

1054
00:51:39.440 --> 00:51:42.840
on Friday, and the client brought up a good points

1055
00:51:42.880 --> 00:51:46.000
like eventually there's going to be a difference and better,

1056
00:51:46.119 --> 00:51:50.639
more efficient cooling method than this. Then the liquid cooling.

1057
00:51:50.760 --> 00:51:52.880
Right at first it was air cooling, now it's liquid cooling.

1058
00:51:52.920 --> 00:51:53.920
What's going to be the next one?

1059
00:51:54.239 --> 00:51:57.000
And can't You bet? You could certainly make a case

1060
00:51:57.039 --> 00:51:59.159
that Verdi will be the one that comes up with it.

1061
00:52:00.079 --> 00:52:02.760
That's what they do, right, I mean, that's what they

1062
00:52:02.800 --> 00:52:03.440
do for a living.

1063
00:52:04.079 --> 00:52:06.320
So if you think that they would come up with it,

1064
00:52:06.360 --> 00:52:07.719
but like what if in videos, like we want to

1065
00:52:07.760 --> 00:52:10.239
save some money, so they'll come up with their own versions,

1066
00:52:10.639 --> 00:52:16.400
idea that can happen. That's what could happen better than videos, exactly,

1067
00:52:18.199 --> 00:52:19.719
I get it. I'm just saying that's the only thing

1068
00:52:19.719 --> 00:52:22.079
you can see happening. Otherwise Verdi as the leader. You're

1069
00:52:22.119 --> 00:52:23.280
thinking that they're going to be the best.

1070
00:52:23.519 --> 00:52:26.199
Yeah, yeah, it's really really good. Hey, I've got a

1071
00:52:26.239 --> 00:52:28.360
consumer I've got a consumer alert. We do a lot

1072
00:52:28.400 --> 00:52:32.119
of things at Greenberg Financial, and one of the things

1073
00:52:32.159 --> 00:52:34.760
we do is watch out for consumers. This is a

1074
00:52:34.800 --> 00:52:36.519
consumer alert. Sebastian.

1075
00:52:37.599 --> 00:52:39.639
Ready, my wife.

1076
00:52:39.360 --> 00:52:42.920
Needed her phone upgraded, and I've seen the commercials on

1077
00:52:43.000 --> 00:52:46.880
TV where Verizon says bring in any cell phone and

1078
00:52:46.920 --> 00:52:51.599
you'll get a new iPhone sixteen and a tablet and

1079
00:52:51.639 --> 00:52:55.599
an Apple Watch on us. I'm here to tell you

1080
00:52:55.719 --> 00:52:59.800
it's a total why why, it's a total why. I've

1081
00:52:59.840 --> 00:53:04.199
been Verizon customer. According to their Records for thirty eight years,

1082
00:53:04.599 --> 00:53:07.800
and before that, I was with a company that became Verizon.

1083
00:53:08.440 --> 00:53:12.159
I've been with this company since nineteen eighty one. So

1084
00:53:12.440 --> 00:53:15.719
if you're gonna give anybody a break, it might be me, right.

1085
00:53:16.519 --> 00:53:19.760
I walked out with a new iPhone sixteen and a

1086
00:53:19.800 --> 00:53:22.880
tablet okay, but we decided we couldn't afford the watch

1087
00:53:23.360 --> 00:53:27.639
never mind on us, and my out of pocket was

1088
00:53:27.719 --> 00:53:30.000
five hundred and seventy five dollars. I paid cash for

1089
00:53:30.039 --> 00:53:33.440
the phone, okay, so plus I'm paying an additional forty

1090
00:53:33.480 --> 00:53:36.440
five dollars a month for the rest of my life

1091
00:53:36.639 --> 00:53:39.159
because in order to get to where I paid them

1092
00:53:39.239 --> 00:53:41.480
five hundred and seventy five dollars, never mind that they

1093
00:53:41.480 --> 00:53:43.960
said they'd give it all to me free. The only

1094
00:53:44.000 --> 00:53:45.639
way I could pay them five hundred and seventy five

1095
00:53:45.679 --> 00:53:50.519
dollars is to upgrade my plan. What Yeah, So I

1096
00:53:51.039 --> 00:53:54.719
couldn't even get that without upgrading the plant. I can't

1097
00:53:54.719 --> 00:53:57.239
get anything. They gave me a They were willing to

1098
00:53:57.239 --> 00:53:59.559
give me one thousand dollars cash on trade for her,

1099
00:53:59.679 --> 00:54:01.920
but I couldn't get that unless I upgraded both plans.

1100
00:54:02.760 --> 00:54:04.000
If you've seen because.

1101
00:54:03.960 --> 00:54:06.679
It's because you're in such a like dinosaur plan.

1102
00:54:07.079 --> 00:54:10.199
No, no, no, no, I had a great plans, a senior plan.

1103
00:54:10.480 --> 00:54:10.559
No.

1104
00:54:10.960 --> 00:54:13.800
What I'm saying is that plan loses Verizon money.

1105
00:54:13.800 --> 00:54:17.480
Now, I think you're probably right right, but the advertisement,

1106
00:54:17.719 --> 00:54:20.400
and it's so clear, isn't it that you bring any

1107
00:54:20.440 --> 00:54:23.920
phone in, will give you an iPhone sixteen, an Apple

1108
00:54:24.519 --> 00:54:28.239
a tablet, and an Apple watch on us. That's exactly

1109
00:54:28.239 --> 00:54:31.119
what it says. It's telling you is complete bull gets

1110
00:54:31.119 --> 00:54:33.559
you in the door. It's complete bull. And I'm sure

1111
00:54:33.599 --> 00:54:36.920
AT and T is doing the same exact thing because

1112
00:54:36.960 --> 00:54:39.760
I see their commercials and some of the others. So

1113
00:54:40.079 --> 00:54:43.559
be ready if you're if you're buying into this, be

1114
00:54:43.679 --> 00:54:46.159
ready to take your checkbook with you because you're going

1115
00:54:46.239 --> 00:54:49.559
to need it because it isn't on us.

1116
00:54:49.760 --> 00:54:52.000
So to speak, Dave, what happened to Lululemon?

1117
00:54:53.559 --> 00:54:55.440
We can talk about a lot of retail stocks, and

1118
00:54:55.519 --> 00:54:57.800
Lulu is certainly one of them. And the weird part

1119
00:54:57.800 --> 00:54:59.440
about that you want to talk about Lulu because you

1120
00:55:00.320 --> 00:55:02.639
you I both have some Lulu, not personally, but.

1121
00:55:02.760 --> 00:55:05.760
Well, I'm just happy that this thing finally came back around.

1122
00:55:05.840 --> 00:55:07.360
Just kind of crushed, right.

1123
00:55:07.199 --> 00:55:10.760
It got crushed. It dropped fifty percent fifty percent, and

1124
00:55:10.800 --> 00:55:12.880
one of the darlings on Wall Street, one of the

1125
00:55:12.960 --> 00:55:14.159
retail darling.

1126
00:55:13.960 --> 00:55:16.119
Let's go back. One of the biggest reasons that it

1127
00:55:16.159 --> 00:55:19.760
got crushed was because of their products manager was stepping out.

1128
00:55:20.159 --> 00:55:23.519
He stepped out, and their ernie's growth, our sales growth

1129
00:55:23.639 --> 00:55:28.320
was falling, Their creativity was being put in doubt, their

1130
00:55:28.360 --> 00:55:31.480
future was being put in doubt, and the stock dropped

1131
00:55:31.519 --> 00:55:34.480
from what five twenty five to two twenty six something

1132
00:55:34.480 --> 00:55:37.559
like that in a matter in a matter of just

1133
00:55:37.599 --> 00:55:41.719
a few weeks, it just collapsed and it's been slowly

1134
00:55:42.079 --> 00:55:47.079
edging its way back. And on Friday they reported good

1135
00:55:47.159 --> 00:55:50.320
international sales, although US sales are continuing to decline.

1136
00:55:50.360 --> 00:55:52.000
North America as a whole, candadate.

1137
00:55:51.760 --> 00:55:55.480
Too continuing to decline. Right, but the stock popped eighteen percent,

1138
00:55:55.519 --> 00:55:59.719
which I thought was kind of excessive. Considering the news.

1139
00:56:00.119 --> 00:56:02.239
I was pleased because I had some people that needed

1140
00:56:02.239 --> 00:56:03.599
to get out and they got a nice little gain

1141
00:56:03.679 --> 00:56:08.039
on it. Right, Very pleased with it, but wow, it

1142
00:56:08.159 --> 00:56:08.920
seemed like a lot.

1143
00:56:09.280 --> 00:56:12.719
Well again, going back, I'm pretty sure I bought this

1144
00:56:12.760 --> 00:56:17.159
thing right around the time that that product manager had left,

1145
00:56:17.519 --> 00:56:19.960
right right before that, And my biggest thesis on. It

1146
00:56:20.000 --> 00:56:23.400
was because retail had been slowing down. Everybody was saying

1147
00:56:23.480 --> 00:56:27.719
quote unquote, and they had just implemented this new d one.

1148
00:56:27.880 --> 00:56:29.679
Remember I was talking about the colleges. They're going to

1149
00:56:29.719 --> 00:56:31.239
start selling it at the colleges and that's going to

1150
00:56:31.280 --> 00:56:33.280
be a big revenue source. And that thing that that

1151
00:56:33.360 --> 00:56:37.079
side of the business has exploded. You've started doing it.

1152
00:56:37.119 --> 00:56:38.360
I was at the book store of the other day.

1153
00:56:38.800 --> 00:56:42.199
You go to the Lululemon section. Everything's gone, Everything's gone.

1154
00:56:41.920 --> 00:56:43.280
Why why is it gone?

1155
00:56:43.559 --> 00:56:45.440
They all bought it, just bought sold out, right, It

1156
00:56:45.519 --> 00:56:45.960
sold out?

1157
00:56:46.159 --> 00:56:50.119
Wow, sold out. You know, it's funny because you're hearing

1158
00:56:50.159 --> 00:56:55.199
a lot of interesting things about retail and how because

1159
00:56:55.239 --> 00:56:59.079
there's fewer selling days just here between Thanksgiving sanksty and

1160
00:56:59.119 --> 00:57:02.039
is fairly late. I guess Thanksgiving could technically be on

1161
00:57:02.119 --> 00:57:04.400
the thirtieth, right, the last Thursday of the month could

1162
00:57:04.400 --> 00:57:06.960
technically be the thirtieth, oh, the twenty eighth, So it

1163
00:57:07.000 --> 00:57:10.800
was pretty late, so fewer selling days. And you may

1164
00:57:10.840 --> 00:57:15.320
recall a few weeks back, both Target and Walmart said

1165
00:57:15.320 --> 00:57:18.360
that they had cut back their purchases for the Christmas season,

1166
00:57:18.400 --> 00:57:23.079
their wholesale purchases ahead of the Christmas season. I'm hearing

1167
00:57:23.119 --> 00:57:27.440
about the shorter selling period. I'm hearing analysts say it's

1168
00:57:27.519 --> 00:57:31.840
probably going to be a difficult Christmas for retailers. And

1169
00:57:32.119 --> 00:57:37.800
here you have Costco all time high, Walmart all time high,

1170
00:57:37.960 --> 00:57:42.320
William's Sonoma, the parent of Pottery Barn all time high.

1171
00:57:42.960 --> 00:57:47.000
I mean, who's right in this thing? But there is

1172
00:57:47.039 --> 00:57:49.239
a lot of caution towards retail right now.

1173
00:57:49.280 --> 00:57:54.599
And like, I'm pretty sure I saw Victoria's Secret right right, woman,

1174
00:57:54.679 --> 00:57:57.360
So they were up twelve percent this week in other retail.

1175
00:57:57.840 --> 00:58:02.239
And I saw a poping gap. You know, it's interesting.

1176
00:58:02.280 --> 00:58:04.440
Dollar General and Dollar Tree. You would think they would

1177
00:58:04.679 --> 00:58:09.320
really be kicking it with things slowing down as which

1178
00:58:09.400 --> 00:58:12.320
if they are, If they are slowing down right in retail,

1179
00:58:13.079 --> 00:58:15.320
you would think Dollar Tree and Dollar General would be

1180
00:58:15.320 --> 00:58:18.599
doing well in the inflationary environment where everything's more expensive.

1181
00:58:19.199 --> 00:58:23.039
I went to Chipotle last night and I used to

1182
00:58:23.079 --> 00:58:26.800
pay seven ninety five for a burrito at Chipotle, it

1183
00:58:26.840 --> 00:58:31.840
was twelve twelve. I'm thinking that's a fifty percent increase

1184
00:58:31.840 --> 00:58:35.400
since the pandemic. That's a lot. That's a lot, and

1185
00:58:36.159 --> 00:58:38.440
other people are experiencing this. Said, well, but what's happened

1186
00:58:38.480 --> 00:58:40.840
with Dollar General and Dollar Tree, and they're both down

1187
00:58:40.920 --> 00:58:44.320
fifty percent this year. They both reported pretty good results

1188
00:58:44.400 --> 00:58:48.440
last week. Neither stock reacted at all to the good results.

1189
00:58:48.440 --> 00:58:52.519
And what I'm reading is their core customer has been

1190
00:58:52.639 --> 00:58:56.559
one of those hardest hit by the rising prices, and

1191
00:58:56.599 --> 00:58:58.960
they're not looking for deals, they're not looking for anything

1192
00:59:00.039 --> 00:59:02.960
stopped spending so dollars.

1193
00:59:03.280 --> 00:59:05.920
I can't talk about Dollar General Dollar Tree. I'm pretty

1194
00:59:05.960 --> 00:59:09.280
sure their earning support were a little bit put to

1195
00:59:09.320 --> 00:59:13.440
the back back the line just because their CFO stepped down. Yes, right,

1196
00:59:13.480 --> 00:59:14.440
so that kind of over.

1197
00:59:14.800 --> 00:59:17.360
Dollar General came the next day, same thing, and they

1198
00:59:17.360 --> 00:59:20.760
didn't have a CFO step down. So yeah. The other

1199
00:59:20.960 --> 00:59:22.840
the other guy to stepped down the CFO is the

1200
00:59:22.880 --> 00:59:27.199
CFO of Costco. He started working for the company. And

1201
00:59:27.400 --> 00:59:29.320
this is going to be from memory, people, so don't

1202
00:59:29.480 --> 00:59:33.800
write this down. It was I want to say, nineteen

1203
00:59:33.880 --> 00:59:38.639
eighty five and the stock was a dollar fifty, and

1204
00:59:38.679 --> 00:59:41.039
the stock closed Friday at one thousand dollars.

1205
00:59:41.039 --> 00:59:41.719
Thousand dollars.

1206
00:59:41.800 --> 00:59:44.280
Yeah, just a few dollars short of one thousand dollars

1207
00:59:44.400 --> 00:59:47.079
a dollar fifty. And I think one of the coolest

1208
00:59:47.559 --> 00:59:49.679
stories about Costco, and we've talked about this on the

1209
00:59:49.679 --> 00:59:51.719
air before, but if you haven't listened to us, maybe

1210
00:59:51.760 --> 00:59:55.719
you didn't hear it is Their ceo started the guy

1211
00:59:55.800 --> 00:59:59.480
running the costco started with the company thirty five years

1212
00:59:59.480 --> 01:00:03.360
ago as a fork lift driver. Are you kidding me?

1213
01:00:03.440 --> 01:00:04.280
Pretty awesome story?

1214
01:00:04.440 --> 01:00:07.360
What an awesome story? Is that? A fork lift driver?

1215
01:00:07.920 --> 01:00:11.519
It's crazy Intel. Their CEO stup down.

1216
01:00:12.159 --> 01:00:15.239
See, well, yeah, he resigned, and I'm thinking.

1217
01:00:14.960 --> 01:00:17.679
It's kind of got He got pushed out, right, he

1218
01:00:17.719 --> 01:00:20.199
got pushed out. But honestly, it's kind of a kind

1219
01:00:20.239 --> 01:00:22.000
of a good bet for that guy. Didn't really do

1220
01:00:22.119 --> 01:00:24.719
much in his four years there. Let the stock price

1221
01:00:25.000 --> 01:00:26.480
plummet fifty and.

1222
01:00:27.039 --> 01:00:30.840
Lost his place in the Dow, this awe place, and

1223
01:00:30.880 --> 01:00:35.000
he gets what ten million dollars go home? Yeah, holy cow,

1224
01:00:35.159 --> 01:00:36.280
how do I get this job?

1225
01:00:36.360 --> 01:00:37.159
That sounds pretty good?

1226
01:00:37.239 --> 01:00:40.719
Man, it does sound pretty good. Hey, we're talking about

1227
01:00:41.559 --> 01:00:45.079
Tesla two and a half year high. You know, based

1228
01:00:45.159 --> 01:00:47.840
upon what we think, what people think Trump's going to

1229
01:00:47.880 --> 01:00:49.360
do for Elon, he's going to come up with some

1230
01:00:50.199 --> 01:00:52.199
magic out of your half thing. But again, the business

1231
01:00:52.280 --> 01:00:55.960
isn't any better. And as evidence to that, CEO Mary Bearra,

1232
01:00:56.119 --> 01:00:58.639
Now Mary Barra is the CEO of GM, and Mary

1233
01:00:58.760 --> 01:01:02.039
is all in non electric vehicles, she really is. She

1234
01:01:02.480 --> 01:01:06.960
sees the company becoming predominantly electric within the next decade.

1235
01:01:07.599 --> 01:01:12.519
So with that said, they had a third battery factory

1236
01:01:12.559 --> 01:01:17.000
that's just completing construction and they sold it. And they

1237
01:01:17.000 --> 01:01:20.079
asked why they sold it, and the spokesman has said,

1238
01:01:20.320 --> 01:01:25.199
we have sufficient battery capacity with the two factories we have. Now, well,

1239
01:01:25.239 --> 01:01:29.079
that doesn't sound like a good thing for sale of

1240
01:01:29.079 --> 01:01:32.599
electric vehicles, right, It's crazy.

1241
01:01:33.559 --> 01:01:35.960
I have something Lucid Motors, So I was thinking about that.

1242
01:01:36.000 --> 01:01:37.400
I was looking at their chart the other day and

1243
01:01:37.400 --> 01:01:39.400
it's Friday. I'm pretty sure it popped up ten percent.

1244
01:01:39.440 --> 01:01:41.159
What do you think about that company, Lucid.

1245
01:01:41.320 --> 01:01:44.559
Yeah, that's cas Grand one, right, yeah, yeah, Well you

1246
01:01:44.559 --> 01:01:46.400
know they're going to stay in business because they're backed

1247
01:01:46.400 --> 01:01:47.039
by the South East.

1248
01:01:47.079 --> 01:01:49.400
That's exactly what I was about to say. That's exactly

1249
01:01:49.400 --> 01:01:51.000
what I was about to say. And staring at that

1250
01:01:51.039 --> 01:01:53.360
stock at two three dollars share right now, it's kind

1251
01:01:53.400 --> 01:01:56.519
of looking attractive to me. I know that I have

1252
01:01:56.599 --> 01:01:58.320
no idea of not looking at their numbers, not looking

1253
01:01:58.360 --> 01:02:02.159
at their balance sheet. How could this company go under?

1254
01:02:02.159 --> 01:02:04.199
They got a huge factory in Casse ground. They just

1255
01:02:04.440 --> 01:02:07.119
pour billions dollars into Yeah.

1256
01:02:07.199 --> 01:02:10.280
No, absolutely. But speaking of two and three dollars stocks,

1257
01:02:10.360 --> 01:02:13.159
I've got a whole section of my computer that has

1258
01:02:13.159 --> 01:02:16.320
two and three dollars stocks on it. Canopy Growth is

1259
01:02:16.400 --> 01:02:19.519
one of them, a charge Point is another one. I mean,

1260
01:02:19.719 --> 01:02:22.360
I've got a list of stocks that have been a

1261
01:02:22.400 --> 01:02:23.480
dollar to two dollars.

1262
01:02:23.239 --> 01:02:24.320
Are altered three dollars.

1263
01:02:24.320 --> 01:02:27.679
Well, they've been there forever, you know, So you want

1264
01:02:27.719 --> 01:02:31.159
to buy looseid and sit on that two dollars stock. Ideally,

1265
01:02:31.199 --> 01:02:33.760
if you had some money to invest, you don't want

1266
01:02:33.800 --> 01:02:36.360
to put it in something that's working right Yeah, now,

1267
01:02:36.400 --> 01:02:38.519
But I said, if you've got if you're looking at

1268
01:02:38.519 --> 01:02:42.039
your portfolio right now and you've got something that's not

1269
01:02:42.159 --> 01:02:43.880
working and you're not selling.

1270
01:02:43.760 --> 01:02:47.159
You're staring at the thirty four percent year to date

1271
01:02:47.199 --> 01:02:50.480
and the QQQ forty year to date, and your stock's

1272
01:02:50.519 --> 01:02:51.000
not working.

1273
01:02:51.239 --> 01:02:55.480
Yeah, you're right, record all time high after all time high,

1274
01:02:55.480 --> 01:02:59.079
after all time high, and and your stock's not working.

1275
01:03:00.039 --> 01:03:02.880
What are you doing? What's going to make that work? Now?

1276
01:03:02.920 --> 01:03:08.079
If you have insight on something that's a catalyst somewhere

1277
01:03:08.079 --> 01:03:11.679
down the road, Okay, I get that. But if you don't,

1278
01:03:11.960 --> 01:03:14.039
then why not sell it now and take the tax loss.

1279
01:03:14.239 --> 01:03:17.000
You've still got a couple more weeks in twenty twenty four,

1280
01:03:17.519 --> 01:03:20.039
sell it, take the tax loss, and buy something that's

1281
01:03:20.079 --> 01:03:22.159
working or something that could work well.

1282
01:03:22.159 --> 01:03:27.000
I think people get so emotional about their positions sometimes.

1283
01:03:27.199 --> 01:03:28.960
Yeah, you got to leave emotion out of it. That's

1284
01:03:28.960 --> 01:03:31.639
one of the beautiful parts about having a money manager,

1285
01:03:31.719 --> 01:03:34.320
as we do take the emotion out of it, you know,

1286
01:03:34.800 --> 01:03:37.559
and I heard that's go ahead.

1287
01:03:37.599 --> 01:03:39.960
That's incorporated into the fee that you pay us, right.

1288
01:03:40.000 --> 01:03:41.760
I mean, that's a big portion of why you come

1289
01:03:41.800 --> 01:03:42.599
see a money manager.

1290
01:03:42.599 --> 01:03:45.079
It's a huge, huge fortune. To take the emotion out

1291
01:03:45.119 --> 01:03:46.920
of us. You can walk away and go enjoy your

1292
01:03:46.920 --> 01:03:49.920
life and let somebody else deal with all this minutia

1293
01:03:50.000 --> 01:03:54.119
every day. And speaking of charge Point, charge Point is

1294
01:03:54.119 --> 01:03:57.559
one of those stocks that has really really struggled. It's

1295
01:03:57.639 --> 01:04:02.599
the operator of the nation's largest charging network. How cannot

1296
01:04:02.760 --> 01:04:07.159
not be working. But in December of twenty twenty that

1297
01:04:07.280 --> 01:04:10.280
stock was forty nine dollars. It has spent most of

1298
01:04:10.320 --> 01:04:14.360
the last two years under two dollars. The stock date

1299
01:04:14.480 --> 01:04:17.320
rally eleven percent on Thursday, after the company reported a

1300
01:04:17.400 --> 01:04:21.360
smaller year over year loss, smaller loss than expected. They're

1301
01:04:21.360 --> 01:04:24.679
still is the money. You ask yourself, what went wrong?

1302
01:04:25.119 --> 01:04:28.440
How can you be the largest EV charging company in

1303
01:04:28.480 --> 01:04:28.960
the nation.

1304
01:04:29.119 --> 01:04:31.159
Well, you busted it, I thought, and not be doing

1305
01:04:31.159 --> 01:04:33.639
well because of their Level three chargers.

1306
01:04:33.760 --> 01:04:36.880
I'll be doing so now. Here's and I think you

1307
01:04:36.960 --> 01:04:40.840
hit on Sebastian. Ninety six percent of the company's charging

1308
01:04:40.880 --> 01:04:43.719
stations are level two. Level two is what I have

1309
01:04:43.760 --> 01:04:46.719
in my garage. Level two is going to charge my

1310
01:04:47.000 --> 01:04:51.679
car overnight. They're only useful if you have a lot

1311
01:04:51.719 --> 01:04:56.039
of time overnight charging, and hotels have been very, very

1312
01:04:56.079 --> 01:04:58.280
slow to purchase them. I'm a little surprised at this.

1313
01:04:59.400 --> 01:05:02.159
As I level around, I don't see a lot of

1314
01:05:02.199 --> 01:05:05.440
hotels with charging stations, and if I do, they might

1315
01:05:05.480 --> 01:05:09.599
have one or two. I really expected by now that

1316
01:05:09.719 --> 01:05:13.559
most major hotels would have a bank of charging stations,

1317
01:05:13.639 --> 01:05:16.559
not not level three, which is what Tesla has along

1318
01:05:16.639 --> 01:05:20.199
the freeway, because when you're traveling, you need level three.

1319
01:05:20.480 --> 01:05:22.320
Level three is the only thing that I can go

1320
01:05:22.400 --> 01:05:26.039
from twenty percent charge to eighty percent charge with a

1321
01:05:26.159 --> 01:05:28.239
Level three in about thirty minutes.

1322
01:05:28.320 --> 01:05:30.239
I think a hotel has to have a Level three

1323
01:05:30.320 --> 01:05:34.360
not a Level two. Why because you're not going to

1324
01:05:34.400 --> 01:05:36.679
have enough Level twos out there for everybody that has

1325
01:05:36.719 --> 01:05:38.960
an EV Oh you are, now okay?

1326
01:05:39.039 --> 01:05:41.159
Now yeah, I mean now you know, but I don't

1327
01:05:41.159 --> 01:05:41.880
see any of them.

1328
01:05:42.880 --> 01:05:44.880
You get what I mean? Like, put yourself in a

1329
01:05:44.880 --> 01:05:47.920
world that there's more EV's out there, and there's we're

1330
01:05:48.000 --> 01:05:50.079
not going to put that many chargers out here. I'm

1331
01:05:50.119 --> 01:05:51.480
going to be upset if I don't get my hands

1332
01:05:51.519 --> 01:05:52.360
on a charger for the night.

1333
01:05:52.599 --> 01:05:55.480
Right, But remember you could charge at a Level two overnight,

1334
01:05:55.760 --> 01:05:56.679
just fine.

1335
01:05:56.360 --> 01:05:56.599
I know.

1336
01:05:56.679 --> 01:05:58.559
But if there's not you know, if there's only ten

1337
01:05:58.639 --> 01:06:01.360
Level two chargers and there's twelve of EV cars and

1338
01:06:01.400 --> 01:06:02.320
how do I get to the.

1339
01:06:02.400 --> 01:06:05.119
Level then you snooze, you lose? Okay, So you have

1340
01:06:05.199 --> 01:06:08.440
to drive down the street to the Tesla charging station, right,

1341
01:06:09.079 --> 01:06:11.360
I'm just saying that you have to have that if

1342
01:06:11.400 --> 01:06:13.639
your hotel. That's going to be something that's going to

1343
01:06:13.639 --> 01:06:15.800
be demanded in the future. And yeah, in the future.

1344
01:06:15.960 --> 01:06:18.320
I don't think the future is that far off. And

1345
01:06:18.360 --> 01:06:21.840
the level two chargers are not that costly. You're looking

1346
01:06:21.880 --> 01:06:25.960
at five hundred to seven hundred dollars per charger. Would

1347
01:06:26.039 --> 01:06:28.159
that be a nice perk. You think of all the

1348
01:06:28.239 --> 01:06:31.440
things that hotels spend money on, spend lots of money on.

1349
01:06:31.880 --> 01:06:34.000
And I started my career in the hotel, but so

1350
01:06:34.000 --> 01:06:36.320
I know a little about about this. But the types

1351
01:06:36.360 --> 01:06:38.760
of things hotels spend thousands and tens of thousands of

1352
01:06:38.760 --> 01:06:43.000
dollars on to make guests more comfortable, to attract guests,

1353
01:06:43.320 --> 01:06:47.000
wouldn't ev charging stations be a natural.

1354
01:06:46.920 --> 01:06:49.559
Probably right now with the widespread adoption of them.

1355
01:06:49.639 --> 01:06:53.960
Yes, yeah, the level three chargers. You're talking fifty to

1356
01:06:54.280 --> 01:06:57.320
one hundred and fifty thousand fashion. So you're not going

1357
01:06:57.360 --> 01:06:59.679
to have hotels going to spend fifty to one hundred

1358
01:06:59.679 --> 01:07:02.519
and fifty thousand times eight or ten. No, definitely, it's

1359
01:07:02.559 --> 01:07:05.639
not going to happen though, So you're gonna but you

1360
01:07:05.679 --> 01:07:08.800
probably could get them to buy some level two chargers.

1361
01:07:10.159 --> 01:07:14.639
So anyway, the point the reason the stock has not

1362
01:07:14.760 --> 01:07:19.440
been performing is simply because they have the adoption of

1363
01:07:19.639 --> 01:07:22.480
level two chargers by the people that would buy the

1364
01:07:22.559 --> 01:07:28.280
level two chargers. Libraries, hospitals, hotels just simply have not

1365
01:07:28.320 --> 01:07:31.960
done it. And it's because they haven't gotten the pressure yet.

1366
01:07:32.199 --> 01:07:35.280
But they'll get some pressure and and it will happen.

1367
01:07:35.360 --> 01:07:38.199
Cybersecurity has been an interesting space lately.

1368
01:07:38.360 --> 01:07:39.400
Oh my goodness. Yes.

1369
01:07:39.960 --> 01:07:42.800
Back in I want to say February, we had boughten

1370
01:07:42.840 --> 01:07:45.559
a little bit of OTDA for some of our clients

1371
01:07:45.559 --> 01:07:47.159
and we got a great pop out of it, but

1372
01:07:47.199 --> 01:07:51.000
never got out of it. So some select accounts I

1373
01:07:51.000 --> 01:07:53.239
took it out and put it into a cyber ETF

1374
01:07:53.280 --> 01:07:55.000
which hit an all time high, and I feel pretty

1375
01:07:55.000 --> 01:07:57.840
good about that. But Ota just actually reported really really

1376
01:07:57.840 --> 01:08:01.440
good earnings, and looking at it on a technical standpoint,

1377
01:08:01.480 --> 01:08:04.079
it's coming up on two hundred day, it's right around there,

1378
01:08:04.639 --> 01:08:07.199
kind of looking to restart a position in that thing.

1379
01:08:07.760 --> 01:08:10.199
I think the issue with you guys is it worked

1380
01:08:10.320 --> 01:08:13.320
so well, so fast, so fast that you know, let

1381
01:08:13.320 --> 01:08:14.000
this thing run.

1382
01:08:14.079 --> 01:08:17.000
You know what makes me really want to maybe you

1383
01:08:17.039 --> 01:08:19.039
open up another position in this thing is the fact

1384
01:08:19.079 --> 01:08:21.680
that I see DocuSign on Friday, I see docu sign

1385
01:08:21.760 --> 01:08:23.840
go up twenty four to twenty five percent on Friday.

1386
01:08:23.880 --> 01:08:27.000
And that's something that we have used as Greenberg Financial

1387
01:08:27.039 --> 01:08:31.039
here in the last six months more than a pen.

1388
01:08:31.479 --> 01:08:34.079
You know, we used that DocuSign quite a bit.

1389
01:08:34.199 --> 01:08:37.680
And in full disclosure, up till three months ago, we

1390
01:08:37.720 --> 01:08:40.760
had never used it, never, never never that tack was

1391
01:08:40.960 --> 01:08:44.439
three hundred and fourteen dollars. During the pandemic, it dropped

1392
01:08:44.439 --> 01:08:48.520
to thirty eight and since it's gone eighty percent higher,

1393
01:08:48.520 --> 01:08:50.720
it was up another twenty five percent on Friday.

1394
01:08:51.800 --> 01:08:54.399
I think it closed around higher than one hundred dollars.

1395
01:08:54.479 --> 01:08:55.399
One hundred and four dollars.

1396
01:08:55.399 --> 01:08:58.279
Sure, I think it's really becoming a thing. You're seeing

1397
01:08:58.319 --> 01:09:02.279
it a lot with mortgage documents. We're using a ton

1398
01:09:02.359 --> 01:09:05.920
here Greenberg Financial as we're transitioning from broker to you

1399
01:09:06.079 --> 01:09:08.319
or to registered investment advisor. It's kind of a back

1400
01:09:08.359 --> 01:09:11.960
office thing, but we're making a transition, so all clients

1401
01:09:12.039 --> 01:09:16.119
need to sign a transition paperwork and that's going out

1402
01:09:16.199 --> 01:09:21.039
via docu sign and it's fantastic. I've never been exposed

1403
01:09:21.039 --> 01:09:22.600
to doccu siying in my life.

1404
01:09:22.359 --> 01:09:24.359
And so like people always say, you know, you invest

1405
01:09:24.399 --> 01:09:25.920
in the things that you use, you invest in the

1406
01:09:25.920 --> 01:09:28.880
things that you like. We use docu sign, what do

1407
01:09:28.960 --> 01:09:31.479
we also use okda? Know every single day when we

1408
01:09:31.479 --> 01:09:34.159
log into day, we log in with ODA.

1409
01:09:34.000 --> 01:09:36.479
We do we come on, we we log into our

1410
01:09:36.479 --> 01:09:38.359
machines and the first thing it does is sends us

1411
01:09:38.399 --> 01:09:41.840
in a loord on OKDA. That's on our phone. What

1412
01:09:41.880 --> 01:09:43.359
do we do without our cell phones?

1413
01:09:43.640 --> 01:09:44.279
I have no idea.

1414
01:09:44.359 --> 01:09:46.319
I mean, the world would not be able to run

1415
01:09:46.359 --> 01:09:49.319
with unfortunately, it would not be able to run. You

1416
01:09:49.359 --> 01:09:51.640
couldn't do all of the things that we do without

1417
01:09:51.640 --> 01:09:51.960
the self.

1418
01:09:52.039 --> 01:09:53.840
I could not have this job without a cell phone.

1419
01:09:54.119 --> 01:09:56.920
I'm not so I'm not. You know, I probably can

1420
01:09:56.960 --> 01:09:58.199
add the job, but I think it would be a

1421
01:09:58.239 --> 01:09:59.359
lot more difficult.

1422
01:09:58.960 --> 01:10:00.960
So you couldn't. I would would you log in a computer?

1423
01:10:01.159 --> 01:10:03.640
Yeah, well, well there'd be a different log in it.

1424
01:10:03.840 --> 01:10:05.159
I guess a dual log and then you got to

1425
01:10:05.159 --> 01:10:07.880
call into the work phone and then dial three digit

1426
01:10:07.920 --> 01:10:09.079
code or something. Have fun.

1427
01:10:09.159 --> 01:10:12.000
It just has made our life so much more incredible.

1428
01:10:12.039 --> 01:10:15.039
And I just remember to this day Steve Jobs standing

1429
01:10:15.119 --> 01:10:18.439
up in front of the audience holding the first iPhone,

1430
01:10:18.479 --> 01:10:20.560
you know, and say, and he's telling about all the

1431
01:10:20.600 --> 01:10:22.680
things he's going to do, and I'm just sitting there

1432
01:10:22.720 --> 01:10:27.039
astounded and saying, what are you talking about. It's a telephone, people,

1433
01:10:27.600 --> 01:10:31.119
You make calls, you receive calls. And that's why I'm

1434
01:10:31.119 --> 01:10:32.479
not Steve Jobs all right.

1435
01:10:32.600 --> 01:10:34.520
But we talked about early on show. It's hard to

1436
01:10:35.439 --> 01:10:37.279
wrap your head around the abstract sometimes.

1437
01:10:37.319 --> 01:10:39.840
Oh, yeah. Yeah, And there's special people out there, Elon

1438
01:10:39.920 --> 01:10:43.159
Musk being one of them who that's there. The abstract

1439
01:10:43.279 --> 01:10:46.920
is their norm. It's pretty pretty down incredible. Hey, Salesforce,

1440
01:10:46.960 --> 01:10:49.239
one of the newest style components, rallied more than twelve

1441
01:10:49.279 --> 01:10:54.000
percent on Wednesday, new all time high. Intersoft enterprise software

1442
01:10:54.079 --> 01:10:58.119
company posted a third quarter revenue beat and strong subscriptions.

1443
01:10:58.560 --> 01:11:01.600
Get this this is I'm thinking, if you're investing in

1444
01:11:01.640 --> 01:11:05.560
the company, this is probably a really good sign. They

1445
01:11:05.600 --> 01:11:10.880
announced that they have hired fourteen hundred new reps to

1446
01:11:11.039 --> 01:11:14.680
service their new business. Now, if you're having to hire

1447
01:11:14.760 --> 01:11:19.640
fourteen hundred additional people to service the new business, you're

1448
01:11:19.680 --> 01:11:23.479
pretty busy. You're probably getting a little bit busy anyways, Salesforce,

1449
01:11:23.520 --> 01:11:27.079
that's typical because generally, when when the stock earns joins

1450
01:11:27.119 --> 01:11:29.000
the Dow, the first thing you want to do is

1451
01:11:29.079 --> 01:11:29.880
sell it immediately.

1452
01:11:30.920 --> 01:11:32.279
When you said joins the Dell.

1453
01:11:32.319 --> 01:11:35.359
Yeah, yeah, it was. It didn't wasn't that long ago.

1454
01:11:35.439 --> 01:11:38.840
But we're about to come to the end of the

1455
01:11:38.880 --> 01:11:42.439
fourth segment, first segment of the second hour, again the

1456
01:11:42.439 --> 01:11:44.720
Money Matter Show, and we appreciate your joining us. We'll

1457
01:11:44.720 --> 01:11:46.800
hope we're getting something out of the show. We're certainly

1458
01:11:46.800 --> 01:11:49.039
having fun doing it. Talk to you right after the break.

1459
01:11:50.359 --> 01:11:53.079
Hello again, Welcome back to the Money Matter Show. This

1460
01:11:53.159 --> 01:11:56.359
is Dave Showoo. I'm here with Sebastian Borsini. Sebastian, we've

1461
01:11:56.359 --> 01:11:59.880
been deserted temporarily. Todd and Dylan and Dean all had

1462
01:12:00.079 --> 01:12:04.079
to go conference for the client for some reason, meet

1463
01:12:04.199 --> 01:12:07.079
the big client and see if we can can round

1464
01:12:07.159 --> 01:12:11.000
up some more business. Right anyway, Well.

1465
01:12:10.239 --> 01:12:11.279
We'll talk to you guys though.

1466
01:12:11.359 --> 01:12:13.359
We can handle this. You know, we can handle this.

1467
01:12:13.439 --> 01:12:15.800
We've been doing this a long time and we can

1468
01:12:15.840 --> 01:12:20.520
certainly get through this. The Jet Blue was kind of

1469
01:12:20.560 --> 01:12:25.079
interesting on this past week, down seventy percent. Stocks down

1470
01:12:25.159 --> 01:12:27.159
seventy percent in the last three and a half years,

1471
01:12:27.439 --> 01:12:30.319
but it did jump on Wednesday after the airline said

1472
01:12:30.319 --> 01:12:34.239
it sees a smaller decline in this full year revenue

1473
01:12:34.239 --> 01:12:37.720
guidance then originally expected. Now, what I read into that

1474
01:12:37.920 --> 01:12:42.399
is that it's seen a smaller decline in his revenue,

1475
01:12:43.119 --> 01:12:47.239
so that it's still declining. Let's buy the stock, Let's

1476
01:12:47.239 --> 01:12:48.960
buy it more, Let's buy this out quick, because it's

1477
01:12:49.000 --> 01:12:52.720
a business is still declining, but it's declining slower.

1478
01:12:54.680 --> 01:12:57.000
A right, I was you were talking about airlines, what

1479
01:12:57.000 --> 01:12:58.000
about American Airlines?

1480
01:12:58.039 --> 01:13:01.560
Aerican Airlines is that's an interesting one because because it

1481
01:13:01.720 --> 01:13:06.000
jumped and why it jumped is kind of a kind

1482
01:13:06.000 --> 01:13:06.560
of confusing.

1483
01:13:06.680 --> 01:13:07.760
So it's super confusing.

1484
01:13:08.199 --> 01:13:12.439
Jump seventeen percent to a seventeen month high on Thursday, right,

1485
01:13:13.079 --> 01:13:17.079
the airline's here's the news. The airline is dropping Barclays

1486
01:13:17.119 --> 01:13:22.119
as a credit card partner and making City its sole partner. Okay,

1487
01:13:22.119 --> 01:13:26.399
that was the news. Duh? Is that? Okay? So how

1488
01:13:26.680 --> 01:13:30.000
why is that exciting? And then it says the deal

1489
01:13:30.279 --> 01:13:34.800
is expected to take effect in January of twenty twenty six,

1490
01:13:35.079 --> 01:13:37.960
a year later, more than a year from now. So

1491
01:13:38.199 --> 01:13:42.520
I'm going to aggressively buy American Airline stock because they're

1492
01:13:42.560 --> 01:13:44.920
switching from Barclays to City.

1493
01:13:45.079 --> 01:13:47.159
Sounds like Barclays was getting the better end of the

1494
01:13:47.159 --> 01:13:51.199
stick whatever deal that they had. Obviously Barclays was winning.

1495
01:13:51.319 --> 01:13:53.720
And I thought to myself, Okay, why is that making

1496
01:13:53.720 --> 01:13:56.600
the stock go higher? And I thought about this, Sebastian,

1497
01:13:57.000 --> 01:14:01.119
might it be this? On that same day, Southwest Airlines

1498
01:14:01.239 --> 01:14:05.560
raised its fourth quarter guidance for operating revenue p available

1499
01:14:05.600 --> 01:14:09.560
seat mile, which sent their stock to a seventeen month high.

1500
01:14:09.800 --> 01:14:12.039
Southwest. Yes, I didn't see that.

1501
01:14:11.960 --> 01:14:16.079
But then might American have peggy backed on that?

1502
01:14:16.079 --> 01:14:18.920
That's not Southwestern jumps seventeen percent?

1503
01:14:19.680 --> 01:14:23.680
No, No, Southwest went to a seventeen month high. You

1504
01:14:23.720 --> 01:14:24.359
didn't hear me.

1505
01:14:24.359 --> 01:14:28.279
Correctly, Airline They jumped seventeen percent.

1506
01:14:28.119 --> 01:14:33.279
Perican airline jump seventeen. Southwest jumped to a new seventeen.

1507
01:14:32.800 --> 01:14:35.399
My question to you is why is American airlines jumping

1508
01:14:35.439 --> 01:14:37.119
more than Southwest did on that day?

1509
01:14:37.239 --> 01:14:41.199
Percentage right percent West. I don't know, honestly, unless it's

1510
01:14:41.239 --> 01:14:44.199
down more. I don't follow the airlines closely, so it

1511
01:14:44.199 --> 01:14:44.920
could have been down Moore.

1512
01:14:44.960 --> 01:14:46.760
I've been watching them closely a little bit more.

1513
01:14:46.720 --> 01:14:48.279
So, were then to answer your own question?

1514
01:14:50.039 --> 01:14:50.479
Forget it.

1515
01:14:52.399 --> 01:14:54.000
You're telling me you do not have an answer to

1516
01:14:54.039 --> 01:14:54.600
your own question.

1517
01:14:54.680 --> 01:14:55.159
Oh I do not.

1518
01:14:55.520 --> 01:14:59.000
You know it's interesting. Uh. The old Taser company is

1519
01:14:59.039 --> 01:15:01.399
now called Accent. I'm not sure where they come up

1520
01:15:01.399 --> 01:15:05.960
with Axo n why that's the name for Taser, but

1521
01:15:06.039 --> 01:15:08.840
it used to be Taser out of Phoenix. It's risen

1522
01:15:09.000 --> 01:15:13.079
fifty percent since the election, moved to another new all

1523
01:15:13.159 --> 01:15:17.159
time high up on Tuesday, after Morgan Stanley raised the

1524
01:15:17.239 --> 01:15:20.720
stock to a BUYE get this. Get this. The stock

1525
01:15:20.840 --> 01:15:23.960
is up one hundred and seventy five percent in the

1526
01:15:24.000 --> 01:15:27.520
last twelve months. And my question for Morgan Stanley is

1527
01:15:28.079 --> 01:15:28.720
where have you been?

1528
01:15:31.399 --> 01:15:32.760
I mean the stock analyst.

1529
01:15:32.960 --> 01:15:35.920
The stock is up one hundred and seventy five percent.

1530
01:15:36.039 --> 01:15:38.800
Yeah, but why Dave? Just because Trump got into office,

1531
01:15:38.840 --> 01:15:39.560
We're gonna.

1532
01:15:39.359 --> 01:15:43.279
Why fifty percent? Because we're gonna give everybody tasers and

1533
01:15:43.319 --> 01:15:45.159
go out and start rounding up illegal.

1534
01:15:44.800 --> 01:15:47.800
And that's what the company said and their their earnings call.

1535
01:15:48.039 --> 01:15:50.640
There's that company. I say something like that. But you know,

1536
01:15:50.680 --> 01:15:53.359
and you have to think yourself, why would that be?

1537
01:15:53.840 --> 01:15:54.720
It doesn't make sense.

1538
01:15:55.399 --> 01:15:59.359
Why would Taser jump fifty percent because Trump was elected president?

1539
01:15:59.399 --> 01:16:03.119
People were going to want to I self defense. I

1540
01:16:03.159 --> 01:16:03.359
don't know.

1541
01:16:03.399 --> 01:16:04.840
Maybe it's going to be okay to go out and

1542
01:16:04.840 --> 01:16:06.079
take their people now. I don't know.

1543
01:16:06.079 --> 01:16:06.840
It doesn't make sense.

1544
01:16:07.920 --> 01:16:11.960
I was puzzled by it. But super micro Computer, what

1545
01:16:12.560 --> 01:16:16.640
a what a ride they have had? Super micro Computer

1546
01:16:17.399 --> 01:16:20.479
plunged from one hundred and twenty three dollars to seventeen

1547
01:16:20.560 --> 01:16:26.119
dollars after short seller Hindenburg hinted that there were accounting

1548
01:16:26.239 --> 01:16:30.600
issues with the company. Remember, and it kind of implied

1549
01:16:30.600 --> 01:16:33.319
that this whole thing is just a big scam. Well

1550
01:16:33.359 --> 01:16:35.439
it's not a big scam. Super micro Computers is a

1551
01:16:35.439 --> 01:16:38.000
real company with earnings and sales and the whole thing.

1552
01:16:38.279 --> 01:16:42.880
From one twenty three to seventeen Monday, it was back

1553
01:16:43.119 --> 01:16:47.560
at forty two after an independent special review found no

1554
01:16:47.600 --> 01:16:51.479
evidence of misconduct, nothing nice, and so stock goes from

1555
01:16:51.479 --> 01:16:54.119
one hundred and twenty three to seventeen on nothing.

1556
01:16:55.439 --> 01:16:57.680
It makes you think, like, what about the auditor that

1557
01:16:57.720 --> 01:16:59.800
stepped down, Like why was he allowed to just yeah,

1558
01:17:00.039 --> 01:17:03.000
get out of there and destroy the stock price.

1559
01:17:02.760 --> 01:17:07.159
Of Yeah, it's got everybody thinking, well, he's leaving, he

1560
01:17:07.279 --> 01:17:09.439
was no something, he's getting out and no.

1561
01:17:09.439 --> 01:17:11.359
No, that's got me looking at in videos the biggest

1562
01:17:11.399 --> 01:17:14.439
customers seeing super microcomputer and getting scared about it.

1563
01:17:16.039 --> 01:17:18.640
The idiot has been just such a wonderful stock. I

1564
01:17:18.760 --> 01:17:21.399
just I think, I said last week, I don't know

1565
01:17:21.439 --> 01:17:25.439
what more they can do. They're producing as many of

1566
01:17:25.479 --> 01:17:29.119
these high powered ships as they possibly can. There's a

1567
01:17:29.159 --> 01:17:33.840
buyer for every one of them. You can't expand capacity

1568
01:17:34.439 --> 01:17:37.520
without going taking a couple of years and spending literally

1569
01:17:37.760 --> 01:17:41.239
hundreds of millions of dollars to do that. You can't

1570
01:17:41.279 --> 01:17:44.279
just pop up a plant. You know, there's no inflatable

1571
01:17:44.560 --> 01:17:46.439
that you can pop up next to the planet. Okay,

1572
01:17:46.439 --> 01:17:48.079
here's a new plant. You know.

1573
01:17:48.239 --> 01:17:49.880
With all to say, I we talked about the need

1574
01:17:49.920 --> 01:17:53.840
for the energy cooling systems. There's also a need for

1575
01:17:54.640 --> 01:17:57.000
advising of this. Right, A censure was a big company

1576
01:17:57.000 --> 01:18:01.079
that's going into this. Sure take look at those types

1577
01:18:01.119 --> 01:18:02.239
of companies out there.

1578
01:18:02.479 --> 01:18:05.640
Yastly I had a little news on the GLP one.

1579
01:18:05.720 --> 01:18:09.319
Every GLP one certainly catches the news out there. Wow,

1580
01:18:09.920 --> 01:18:13.600
Eli Lilly crushed. This is according to the article.

1581
01:18:13.680 --> 01:18:17.119
Oh yeah, crushed in I hated that article.

1582
01:18:17.239 --> 01:18:18.680
First of all, of course you did, because you own

1583
01:18:18.720 --> 01:18:22.159
Nova Nordis. In the first head to head trial comparing

1584
01:18:22.199 --> 01:18:27.119
their obesity drugs, Lily's zep Bound generated late loss of

1585
01:18:27.159 --> 01:18:31.279
twenty percent on average after seventy two weeks about six years, right,

1586
01:18:32.000 --> 01:18:35.399
versus fourteen percent for Novo. So so you're talking twenty

1587
01:18:35.439 --> 01:18:39.840
percent versus fourteen percent. Nobo makes well Goovi and Lily

1588
01:18:39.880 --> 01:18:41.279
makes zep Bound.

1589
01:18:41.199 --> 01:18:43.840
And they manufacture the drug together in the same plants.

1590
01:18:43.880 --> 01:18:47.239
Yeah, it's crazy, it's so weird. He's crazy. Lily opened

1591
01:18:47.239 --> 01:18:49.880
two percent higher on Wednesday. The interesting part about that

1592
01:18:50.039 --> 01:18:53.119
news article and why you probably should have yawned about

1593
01:18:53.159 --> 01:18:55.840
it is that Nobel really didn't react.

1594
01:18:55.600 --> 01:18:57.640
Did and react to whatsoever. And that's what That's why

1595
01:18:57.680 --> 01:18:59.239
I was gonna say that I hated the article, just

1596
01:18:59.239 --> 01:19:01.640
because I saw that article, got scared, looked at Novo

1597
01:19:01.640 --> 01:19:03.680
and what happens, nothing flat on the day.

1598
01:19:04.600 --> 01:19:07.079
There's something we're missing there, and it might be in

1599
01:19:07.119 --> 01:19:10.119
the cost. I'm guessing that maybe, well Gov is quite

1600
01:19:10.159 --> 01:19:12.840
a bit cheaper than zep bound. I could see that,

1601
01:19:13.600 --> 01:19:17.239
and so if you can get two thirds of the

1602
01:19:17.359 --> 01:19:21.640
results with half the money, you might choose that route.

1603
01:19:22.199 --> 01:19:25.520
We know that the compound pharmacies have been doing a

1604
01:19:25.560 --> 01:19:32.760
ton of business. We're calling back that when Novo and

1605
01:19:33.119 --> 01:19:38.720
Lily had way more demand than supply, the FDA allowed

1606
01:19:38.720 --> 01:19:41.399
these compound pharmacies to make it for them, and of

1607
01:19:41.439 --> 01:19:45.279
course they gave them the formula. Now that that whole

1608
01:19:45.279 --> 01:19:49.279
thing has been canceled, the compound pharmacies are out there

1609
01:19:49.359 --> 01:19:52.479
making this thing, still making the thing, now selling it

1610
01:19:52.560 --> 01:19:55.760
under their own name, using the same formula, selling it

1611
01:19:55.760 --> 01:19:58.800
for a fraction of the price. And of course Eli,

1612
01:19:58.880 --> 01:20:00.760
Lilly and Novo are even foul.

1613
01:20:01.560 --> 01:20:04.760
I mean, I've talked about this probably a year ago.

1614
01:20:05.319 --> 01:20:08.840
How do you allow this? It doesn't make sense.

1615
01:20:08.920 --> 01:20:09.600
It makes no sense.

1616
01:20:09.600 --> 01:20:12.199
Does they make billions of dollars?

1617
01:20:12.239 --> 01:20:14.239
And the FDA says that's okay, right.

1618
01:20:14.279 --> 01:20:17.119
They put billions of dollars into R and D, billions

1619
01:20:17.119 --> 01:20:20.479
of dollars into research and developments, And for what.

1620
01:20:21.279 --> 01:20:24.439
It gave these other companies the formula because they needed

1621
01:20:24.520 --> 01:20:31.119
help meeting demand for a drug that is arguably improving

1622
01:20:31.199 --> 01:20:35.119
the health of many Americans. Right way, loss typically will

1623
01:20:35.159 --> 01:20:40.000
improve your health. Yes, there are some downsides once you

1624
01:20:40.079 --> 01:20:42.000
start on these drugs you have to stay on them

1625
01:20:42.000 --> 01:20:42.800
for life.

1626
01:20:43.279 --> 01:20:44.920
Or the way it comes right back.

1627
01:20:45.239 --> 01:20:53.600
But despite that, despite the shortcomings, if you typically weigh

1628
01:20:53.600 --> 01:20:55.880
two fifty and now you can weigh one seventy five,

1629
01:20:55.960 --> 01:20:57.960
and the only difference is you have to take this

1630
01:20:58.039 --> 01:21:00.640
injection once a week or once a month, they pain

1631
01:21:00.760 --> 01:21:04.560
upon which drug you take. You probably could would do

1632
01:21:04.640 --> 01:21:07.319
that if you could afford it. I think one of

1633
01:21:07.399 --> 01:21:09.600
the big problems that we've run into, and why the

1634
01:21:09.680 --> 01:21:13.119
compound pharmacies are being allowed to run with this, is

1635
01:21:13.159 --> 01:21:17.359
that affordability is a real issue here. A lot of

1636
01:21:18.680 --> 01:21:23.960
people who are overweight and need this drug are overweight

1637
01:21:24.039 --> 01:21:27.680
because they don't eat a good diet and they don't

1638
01:21:27.720 --> 01:21:31.039
need a good diet because they can't afford good food.

1639
01:21:31.399 --> 01:21:32.039
That's a good point.

1640
01:21:33.439 --> 01:21:37.960
Do you find obesity is rampant in low incomes because

1641
01:21:38.000 --> 01:21:41.680
you just cannot afford to go to Vivace, You have

1642
01:21:41.760 --> 01:21:42.680
to go to McDonald's.

1643
01:21:42.800 --> 01:21:46.560
Yeah, that's a great I'm glad that you brought that up,

1644
01:21:46.560 --> 01:21:49.199
because I'm looking at it over here from the pharmaceuticals

1645
01:21:49.640 --> 01:21:53.159
business standpoints the fork down right right, Well, yeah, right right,

1646
01:21:53.159 --> 01:21:56.119
put the fork down. I've put poured billions of dollars

1647
01:21:56.159 --> 01:21:58.159
into the research and developments. I'm supposed to have this

1648
01:21:58.199 --> 01:22:00.479
patent for five or ten to fifteen years that I'm

1649
01:22:00.479 --> 01:22:02.439
supposed to make all my money back, and you know,

1650
01:22:02.479 --> 01:22:04.600
we're going to just sell to everybody. Now, we're going

1651
01:22:04.640 --> 01:22:05.760
to like everybody have it.

1652
01:22:05.760 --> 01:22:08.399
It'll be interesting to see what the FDA under Trump

1653
01:22:08.479 --> 01:22:12.960
does to this, Yeah, because it may be that they

1654
01:22:13.279 --> 01:22:15.840
they may put an end to the compound pharmacy selling us.

1655
01:22:15.880 --> 01:22:20.079
I'm sure that the only justification that the Biden administration

1656
01:22:21.119 --> 01:22:26.159
would have for allowing compound pharmacies to eat into this

1657
01:22:26.640 --> 01:22:30.359
business where you, like you've accurately said, people have had

1658
01:22:30.359 --> 01:22:33.840
to spend billions of dollars on R and D would

1659
01:22:33.920 --> 01:22:37.960
be this warm heart deal, you know that. Okay, we

1660
01:22:38.119 --> 01:22:42.279
understand that this doesn't seem fair on the surface, but

1661
01:22:42.439 --> 01:22:48.239
it's getting this much needed medication to people who really

1662
01:22:48.279 --> 01:22:51.880
need it at much more affordable prices.

1663
01:22:52.199 --> 01:22:54.600
And I think we also miss a little bit of

1664
01:22:54.600 --> 01:23:00.399
something here. Remember the drug started off for diabetes for diabetics, right,

1665
01:23:00.439 --> 01:23:04.119
so you get all these iabetics that started they started

1666
01:23:04.119 --> 01:23:06.600
this drug and then they couldn't get it anymore. So, yeah,

1667
01:23:06.680 --> 01:23:09.479
there was maybe a need for these compound pharmacies to

1668
01:23:09.520 --> 01:23:11.279
step in and help meet that demands.

1669
01:23:12.399 --> 01:23:15.399
Yeah, and it's funny how often that happens. A Viagra

1670
01:23:15.960 --> 01:23:20.319
was a blood pressure drug, right, Viager was developed to

1671
01:23:20.479 --> 01:23:24.560
help blood pressure, and now Viagra's used to increase your

1672
01:23:24.560 --> 01:23:31.079
blood pressure, if you get my drift. Yeah, but it

1673
01:23:31.199 --> 01:23:33.920
is interesting the three M posted note right that the

1674
01:23:34.000 --> 01:23:37.159
employee came up with that by accident. It is amazing

1675
01:23:37.159 --> 01:23:40.119
how many of these wonderful products we have that do

1676
01:23:40.239 --> 01:23:46.680
wonderful things for our life were invented by accident, if

1677
01:23:46.720 --> 01:23:50.840
you will. Yeah, it's crazy. We've been doing a lot

1678
01:23:50.840 --> 01:23:53.039
of financial plans. You guys have just been busy as

1679
01:23:53.079 --> 01:23:55.520
can be and so I haven't done that yet. Come

1680
01:23:55.560 --> 01:23:58.359
on in the holiday season. You've actually down to scene

1681
01:23:58.399 --> 01:24:00.279
one or two people a day as a post of war.

1682
01:24:00.920 --> 01:24:04.840
So there is some room on the schedule. And if

1683
01:24:04.880 --> 01:24:08.079
you haven't gotten your free financial plan, and it is free,

1684
01:24:08.079 --> 01:24:11.239
we're now gonna bug you. It's totally free. Give us

1685
01:24:11.279 --> 01:24:12.960
a call, come on in and do it. A lot

1686
01:24:13.000 --> 01:24:14.479
of people have gotten a lot of peace of mind

1687
01:24:14.479 --> 01:24:15.680
from it. We'll be right back.

1688
01:24:16.239 --> 01:24:18.119
Welcome back to the Money Matter Show. My name is

1689
01:24:18.119 --> 01:24:21.199
Todd Glick. I'm here with Sebastian Board, Sni and Dylan Greenberg,

1690
01:24:21.239 --> 01:24:24.399
and we have a special guest on this segment, Jonathan Sabilia,

1691
01:24:25.039 --> 01:24:27.840
our famous, our loved estate planner that we partner with

1692
01:24:27.880 --> 01:24:28.960
here at Greenberg Financial.

1693
01:24:29.119 --> 01:24:29.680
How you doing here?

1694
01:24:29.760 --> 01:24:31.680
John soon to be father at three right.

1695
01:24:33.640 --> 01:24:34.319
Any minute?

1696
01:24:34.399 --> 01:24:36.199
Yeah, by now he might already be a father of three.

1697
01:24:36.239 --> 01:24:39.359
You might have to leave this segment possibly, guys, I

1698
01:24:39.399 --> 01:24:44.239
gotta go, so, yeah, I gotta get on the way

1699
01:24:44.319 --> 01:24:48.159
do this Tuesday, hopefully. But the doctor said that could

1700
01:24:48.159 --> 01:24:53.119
happen any minute, and we are pumped and scared at

1701
01:24:53.159 --> 01:24:53.760
the same time.

1702
01:24:54.039 --> 01:24:55.680
So I, from a state planner's point of view, what

1703
01:24:55.680 --> 01:24:57.439
would you do like now? That you've got three kids,

1704
01:24:57.680 --> 01:24:58.880
change anything that got going on.

1705
01:24:59.039 --> 01:25:01.560
What would you tell a client got a kid on

1706
01:25:01.600 --> 01:25:04.600
the way. Well, here's what I'm gonna go do. I'm

1707
01:25:04.600 --> 01:25:08.119
gonna upstate update my trust because the way I have

1708
01:25:08.199 --> 01:25:10.720
mind written out, it's going to my two already fifty

1709
01:25:10.720 --> 01:25:13.960
to fifty we're going to provide for them. We've already

1710
01:25:14.000 --> 01:25:17.520
discussed five twenty nine plans. We've discussed whether or not

1711
01:25:17.560 --> 01:25:20.479
we were going to do that setting up early roths

1712
01:25:20.720 --> 01:25:24.000
for our children. But as you guys know what a

1713
01:25:24.119 --> 01:25:25.479
roth you need earned income.

1714
01:25:25.760 --> 01:25:25.960
Yep.

1715
01:25:26.319 --> 01:25:28.359
And so how do you get a three or four

1716
01:25:28.439 --> 01:25:30.960
year old to get earned income? You pay him as

1717
01:25:31.000 --> 01:25:33.119
a model, given as a model, right, you know on

1718
01:25:33.239 --> 01:25:36.079
my website, you know, hey, thank you, here's a couple

1719
01:25:36.119 --> 01:25:37.199
thousand dollars for.

1720
01:25:37.840 --> 01:25:39.800
As long as they make the minimum. If they have

1721
01:25:39.840 --> 01:25:41.279
to make you can put up to seven grand. If

1722
01:25:41.279 --> 01:25:42.880
they make seven grand that year, can put up that.

1723
01:25:42.960 --> 01:25:44.600
If they make five grand, you can only put five

1724
01:25:44.600 --> 01:25:44.920
grand in.

1725
01:25:45.039 --> 01:25:47.079
That's right, I did the mass. So if I contributed

1726
01:25:47.840 --> 01:25:53.159
now to my young ones to the maximum for three years,

1727
01:25:53.239 --> 01:25:55.359
by the time they're fifty nine or whenever they're allowed

1728
01:25:55.399 --> 01:25:57.800
to pull the money out, that that they'll have a

1729
01:25:57.880 --> 01:26:01.199
nice little retirement fund about one point million dollars. Not bad,

1730
01:26:01.319 --> 01:26:06.439
right payments? Why did compound interest? Compound interest?

1731
01:26:06.680 --> 01:26:10.279
Yep, it's the eighth magic wonder of the world. You know, John,

1732
01:26:10.279 --> 01:26:12.039
You're probably gonna get this one wrong. What do you

1733
01:26:12.119 --> 01:26:14.079
think if you could fold a piece of paper on

1734
01:26:14.119 --> 01:26:16.920
top of itself as many times? How many times would

1735
01:26:16.960 --> 01:26:18.439
you have to do that for it to reach from

1736
01:26:18.439 --> 01:26:19.239
the Earth to the moon.

1737
01:26:19.319 --> 01:26:22.600
I tried that once? What and how many times did

1738
01:26:22.640 --> 01:26:26.199
you get? Physically you can only do it six times?

1739
01:26:26.199 --> 01:26:28.840
I think it was it's about seven. But you're right,

1740
01:26:29.079 --> 01:26:31.279
if you theoretically you could keep doing it, how much?

1741
01:26:31.319 --> 01:26:32.520
How many folds would it take you?

1742
01:26:33.119 --> 01:26:34.399
Uh?

1743
01:26:35.239 --> 01:26:35.560
I good.

1744
01:26:35.760 --> 01:26:38.640
I don't know the answer to that. What one hundred times?

1745
01:26:38.640 --> 01:26:39.520
It'll go to the moon?

1746
01:26:39.840 --> 01:26:40.359
Forty two?

1747
01:26:40.479 --> 01:26:41.680
Forty two? See, I was close.

1748
01:26:42.079 --> 01:26:42.880
That was a pretty good guest.

1749
01:26:42.920 --> 01:26:44.119
That's a great good guess.

1750
01:26:44.560 --> 01:26:47.199
Most people say like a thousand or you know, but yeah, no,

1751
01:26:47.319 --> 01:26:49.560
compound interest is crazy. And I guarantee if you look

1752
01:26:49.560 --> 01:26:52.279
at that chart, the last million dollars was made in

1753
01:26:52.319 --> 01:26:53.159
the last five years.

1754
01:26:53.199 --> 01:26:55.279
Does it matter what size the paper or.

1755
01:26:57.199 --> 01:26:57.760
It's all the same.

1756
01:26:58.239 --> 01:27:00.520
You can actually ask chat GBT. It doesn'tally funny. It's

1757
01:27:00.560 --> 01:27:03.239
like each papers point one millimeter and a few times

1758
01:27:03.279 --> 01:27:05.319
that and you can compound it. This is how many

1759
01:27:05.359 --> 01:27:05.800
times you have.

1760
01:27:05.760 --> 01:27:06.000
To do.

1761
01:27:07.479 --> 01:27:09.800
Re estate plan for anyone that could fold a piece

1762
01:27:09.800 --> 01:27:11.000
of paper eight times.

1763
01:27:11.279 --> 01:27:13.960
There you go, that's that's that's a good one. You

1764
01:27:13.960 --> 01:27:17.680
should try that. The MythBusters did it once. Yeah, they

1765
01:27:17.720 --> 01:27:21.760
found to do it by hand. That that was a

1766
01:27:21.760 --> 01:27:24.119
good episode. So we're talking about a state planning. One

1767
01:27:24.159 --> 01:27:26.039
of the things that hits a lot of well, not

1768
01:27:26.119 --> 01:27:28.640
doesn't hit a lot of people, hit some is estate taxes.

1769
01:27:29.359 --> 01:27:31.560
There's obviously some trust that you can play with that

1770
01:27:31.800 --> 01:27:36.079
potentially lock in the current estate tax limit, which doesn't

1771
01:27:36.119 --> 01:27:39.159
seem like it's going to be lowered because of Trump's presidency. Also,

1772
01:27:39.199 --> 01:27:41.720
you have a red House or red Senate. Seems like

1773
01:27:41.760 --> 01:27:44.960
they're going to extend that that Tax Act a couple

1774
01:27:45.000 --> 01:27:47.279
more years. Who knows how long they're actually able to

1775
01:27:47.319 --> 01:27:50.600
do it. What are your some expectations on should you

1776
01:27:50.880 --> 01:27:54.239
lock in trust now to avoid some stuff or play

1777
01:27:54.279 --> 01:27:56.239
a waiting game to see what's going on or what

1778
01:27:56.399 --> 01:27:59.920
with some of your strategies with this new presidency.

1779
01:28:00.239 --> 01:28:03.159
Well, congratulations on winning the House and the Senate. Thank

1780
01:28:03.199 --> 01:28:08.800
you presidency guys. Congratulations to you too. Hey, you know what,

1781
01:28:08.840 --> 01:28:11.560
I'm excited about the QBI deduction extension.

1782
01:28:11.640 --> 01:28:12.239
So you know, I.

1783
01:28:13.760 --> 01:28:17.239
Always look at I look at everything from the positive side, right, and.

1784
01:28:17.159 --> 01:28:18.880
You just love businesses doing better, Bau.

1785
01:28:18.920 --> 01:28:21.720
This is doing better, more people making money. That's really important.

1786
01:28:21.760 --> 01:28:24.079
So I don't take a side. I'm just I look

1787
01:28:24.119 --> 01:28:30.399
at my personal benefit. So anyways, for the estate tax

1788
01:28:30.439 --> 01:28:34.199
purposes for transferring money in, I don't want to tell

1789
01:28:34.199 --> 01:28:36.680
people not to prepare for it to go down because

1790
01:28:36.760 --> 01:28:39.279
there is a possibility the estate tax exemption will go

1791
01:28:39.319 --> 01:28:42.600
down to seven million dollars. So if you're hovering around

1792
01:28:42.600 --> 01:28:45.560
that number around ten to fifteen million dollars, you would

1793
01:28:45.560 --> 01:28:49.199
probably want to talk to your estate planning attorney to

1794
01:28:49.319 --> 01:28:56.600
discuss preparation for that, because there are ways that we

1795
01:28:56.680 --> 01:28:59.359
can lock in the current number because as we know,

1796
01:28:59.399 --> 01:29:03.279
there is a back provision coming in and before the

1797
01:29:03.319 --> 01:29:05.479
Trump presidency, we were expecting it to go down to

1798
01:29:05.520 --> 01:29:09.239
about seven million dollars and you will lose that exemption

1799
01:29:09.399 --> 01:29:13.960
if you pass away after that snapback. If you pass

1800
01:29:14.000 --> 01:29:17.119
away now, you automatically get that fourteen million dollars. If

1801
01:29:17.119 --> 01:29:19.960
it snaps back and you pass away. After that, you

1802
01:29:20.319 --> 01:29:23.399
only get a seven million dollar exemption. Now, if this

1803
01:29:23.439 --> 01:29:26.000
is something that interests you, is something that's in your wheelhouse,

1804
01:29:26.000 --> 01:29:28.039
If this is if you have that kind of a

1805
01:29:28.079 --> 01:29:30.600
state that this type of thing worries you, then you

1806
01:29:30.600 --> 01:29:32.560
would want to talk to your state planning attorney because

1807
01:29:32.560 --> 01:29:35.960
there are some avenues that you can take to lock

1808
01:29:36.000 --> 01:29:39.720
in that number. Now, okay, And one of the things is,

1809
01:29:39.760 --> 01:29:42.760
you know, spouses, they consider what's called slats, spouse of

1810
01:29:42.880 --> 01:29:46.920
lifetime access trusts. We can do, you know, generation skipping

1811
01:29:47.000 --> 01:29:50.720
trusts for the children to lock in that number. But

1812
01:29:51.199 --> 01:29:52.520
I don't want to tell you not to do it,

1813
01:29:52.560 --> 01:29:55.479
but I don't. I can't imagine, especially with the with

1814
01:29:55.560 --> 01:29:57.600
the administration, going into that number is going to go

1815
01:29:57.680 --> 01:29:58.039
back down.

1816
01:29:58.279 --> 01:29:58.960
Yeah.

1817
01:29:59.039 --> 01:30:01.000
So that's the high line level of the state planning.

1818
01:30:01.000 --> 01:30:05.279
The middle level, which impacts more people, is just obviously

1819
01:30:05.439 --> 01:30:08.439
the normal. You're not really worried about hitting above the

1820
01:30:08.479 --> 01:30:11.239
thirteen million dollar limit, and you're just trying to transferr

1821
01:30:11.239 --> 01:30:15.399
assets as seemingly seeming I can't say the word seamless

1822
01:30:15.399 --> 01:30:19.159
as possible, goodness, gracious, seamless as possible. How is the

1823
01:30:19.159 --> 01:30:21.680
best way to do that. You've just talked about wills,

1824
01:30:21.720 --> 01:30:25.479
You've talked about trust. When is the trust specifically needed?

1825
01:30:28.000 --> 01:30:30.119
So I guess it all just depends on the facts,

1826
01:30:30.359 --> 01:30:33.920
the facts of the case, right, So if what are

1827
01:30:33.920 --> 01:30:36.399
your top three what are my top three reasons? Yeah,

1828
01:30:36.439 --> 01:30:39.000
if you have homes in multiple states, that is the

1829
01:30:39.000 --> 01:30:41.159
big one. I've had a couple of those walking the

1830
01:30:41.159 --> 01:30:43.000
door the past couple of weeks where they have homes

1831
01:30:43.000 --> 01:30:47.279
of multiple states. Because what are the ninety nine percent,

1832
01:30:47.359 --> 01:30:49.920
I would say ninety percent of the population who's going

1833
01:30:50.000 --> 01:30:53.479
to be not subject to the estate tax. They don't

1834
01:30:53.520 --> 01:30:57.319
necessarily need a trust unless they have homes of multiple

1835
01:30:57.319 --> 01:31:00.279
states because nobody really wants to go through prole well

1836
01:31:00.319 --> 01:31:02.640
not everybody, but most people don't want to go through probate.

1837
01:31:03.159 --> 01:31:06.680
And probate is you know, obviously the court administration or

1838
01:31:06.760 --> 01:31:10.439
court supervised administration of your trust. And if you have

1839
01:31:10.520 --> 01:31:13.680
homes in multiple states and those houses are not in

1840
01:31:13.760 --> 01:31:16.119
trust or they don't have another mechanism of getting that

1841
01:31:16.199 --> 01:31:19.039
to your beneficiaries, you'll open up probate in every state.

1842
01:31:19.640 --> 01:31:23.039
I'll tell you what, Arizona's not too bad probate. I

1843
01:31:23.079 --> 01:31:24.880
don't want to scare anyone off. But if you have

1844
01:31:25.079 --> 01:31:27.960
homes in California, you don't want to do probate in

1845
01:31:28.000 --> 01:31:30.880
California because the attorney's there. They can charge a percentage.

1846
01:31:30.880 --> 01:31:32.439
And if you've got a million dollar house, which is

1847
01:31:32.439 --> 01:31:36.239
not in common in California, and the attorney takes two

1848
01:31:36.319 --> 01:31:38.319
or three percent, well what's three percent of a million bucks?

1849
01:31:38.359 --> 01:31:41.640
They could just choose that. They can choose their percentage ethically.

1850
01:31:41.680 --> 01:31:45.760
They can buy ethically. We cannot in Arizona take a percentage.

1851
01:31:46.600 --> 01:31:48.840
In California, they can do Like.

1852
01:31:48.760 --> 01:31:50.319
Does the client have to accept it or does the

1853
01:31:50.399 --> 01:31:52.600
attorney just say I'm going to charge at three.

1854
01:31:52.479 --> 01:31:57.039
Well they yeah, usually upfront fee, they'll they'll charge a percentage,

1855
01:31:57.439 --> 01:32:00.279
and so we do either hourly or we you can

1856
01:32:00.479 --> 01:32:02.000
you know, I'll take a look at the estate and

1857
01:32:02.039 --> 01:32:04.560
I'll say, okay, this is reasonable a flat fee.

1858
01:32:04.880 --> 01:32:08.880
So number One, property in multiple states. Now, having investment

1859
01:32:08.920 --> 01:32:12.760
counts in multiple states probably isn't a reason. But having

1860
01:32:12.760 --> 01:32:14.079
houses in multiple.

1861
01:32:13.680 --> 01:32:16.960
States property, Yeah, yeah, if you have property in multiple states,

1862
01:32:16.960 --> 01:32:18.159
that's that's the big one.

1863
01:32:18.239 --> 01:32:20.159
Okay, Number two comes to mind.

1864
01:32:20.279 --> 01:32:22.600
Number two is just avoiding probate altogether. If you don't

1865
01:32:22.600 --> 01:32:25.000
want to, if you don't want to dip into probate

1866
01:32:25.119 --> 01:32:28.000
during you know, after you pass away, even if it's

1867
01:32:28.000 --> 01:32:33.359
in Arizona. Some people like to keep their their assets quiet.

1868
01:32:33.479 --> 01:32:35.960
They don't want it to become part of public record

1869
01:32:36.039 --> 01:32:38.439
because part of the probate process is a is a

1870
01:32:39.199 --> 01:32:44.720
process of of pleadings where you file pleadings, you file accountings,

1871
01:32:44.720 --> 01:32:46.960
and part of that accounting is what's inside the estate.

1872
01:32:47.439 --> 01:32:49.520
So Joe Schmoe is going to know what's inside your

1873
01:32:49.560 --> 01:32:52.199
state if they want to find out, because it's part

1874
01:32:52.239 --> 01:32:53.039
of public record.

1875
01:32:53.439 --> 01:32:57.399
So when it comes to contesting a trust, most people say, oh,

1876
01:32:57.399 --> 01:32:58.760
I'm going to do the trust so no one can

1877
01:32:58.760 --> 01:33:00.479
contest it. That's not necessarily the case.

1878
01:33:01.000 --> 01:33:03.680
Well, anything could be contest Anything could be contested.

1879
01:33:03.359 --> 01:33:06.039
Right, but a will will might not hold up as

1880
01:33:06.079 --> 01:33:08.359
well as a trust in front of a judge.

1881
01:33:08.439 --> 01:33:11.199
Is that kind of it gets It gets more difficult

1882
01:33:11.399 --> 01:33:14.000
when well, I would say a will and a trust

1883
01:33:14.039 --> 01:33:17.640
are equal in terms of contesting, because any any attorney

1884
01:33:17.680 --> 01:33:19.439
that tells you something can't be contested is lining to you.

1885
01:33:19.800 --> 01:33:23.920
Anything can be contested. The point of doing a will,

1886
01:33:24.039 --> 01:33:29.119
doing a trust is to if it is contested, something's

1887
01:33:29.119 --> 01:33:31.479
in black and white. You know, you don't want something

1888
01:33:31.520 --> 01:33:34.520
that's ambiguous. You don't want you don't want something written

1889
01:33:34.560 --> 01:33:36.680
where oh gosh, what did they mean here? You don't

1890
01:33:36.720 --> 01:33:40.319
want multiple versions of it, because if you have multiple versions,

1891
01:33:40.680 --> 01:33:42.880
then it's going to be well, mom promised me this here,

1892
01:33:43.039 --> 01:33:47.199
and this says that now we have to do a

1893
01:33:47.279 --> 01:33:50.880
judicial interpretation to figure out what exactly is going on

1894
01:33:51.000 --> 01:33:52.880
and what did mom and dad really intend.

1895
01:33:53.119 --> 01:33:55.319
And with a will, you don't necessarily have a fiduciary

1896
01:33:55.640 --> 01:33:59.119
preparing it. With the trust you're you're supposed to have.

1897
01:33:59.760 --> 01:34:03.000
A lawyer is supposed to be a fiduciary, right, who's preparing it?

1898
01:34:03.239 --> 01:34:05.840
No theory, the fiduciary is basically the trustee. EI are

1899
01:34:05.880 --> 01:34:10.239
the ones overseeing the assets the trust. Your attorney's your attorney.

1900
01:34:10.279 --> 01:34:12.800
Your attorney's the one taking your wishes and putting it

1901
01:34:12.840 --> 01:34:16.399
on paper, making sure that the fiduciary does fly straight.

1902
01:34:16.439 --> 01:34:18.840
Well, the word fiduciary also means just acting the client's

1903
01:34:18.880 --> 01:34:22.800
best interest. So do all attorneys do that? Would you say?

1904
01:34:22.920 --> 01:34:24.479
I guess in a way you can. I mean, if

1905
01:34:24.479 --> 01:34:26.640
that's your definition, I guess I am a fiduciary in

1906
01:34:26.680 --> 01:34:30.479
a way, I look at a fiduciary is instead of

1907
01:34:30.920 --> 01:34:33.640
turning out your wishes, is the person who you put

1908
01:34:33.640 --> 01:34:35.359
in charge of the trust or put in charge of

1909
01:34:35.399 --> 01:34:37.920
the will. But I want to make sure you know

1910
01:34:38.039 --> 01:34:41.279
the trust and a will are roadmaps and the roadmaps

1911
01:34:41.279 --> 01:34:44.479
on how that fiduciary should act, you know. So if

1912
01:34:44.520 --> 01:34:47.520
you just, hey, I have thirty seconds left to live,

1913
01:34:47.520 --> 01:34:50.159
I'm going to put my wishes down on a napkin. Well,

1914
01:34:50.199 --> 01:34:54.439
it's not really a roadmap. Things could go wrong, it

1915
01:34:54.520 --> 01:34:57.399
might get contested, it might get thrown out. This wasn't

1916
01:34:57.800 --> 01:35:01.600
done according to the Arizona Statute. I have, you know,

1917
01:35:01.760 --> 01:35:05.960
over my past three years, maybe seen four or five

1918
01:35:06.199 --> 01:35:10.119
napkin wills, and a lot of them are very difficult

1919
01:35:10.159 --> 01:35:13.119
to get through through through to the judge.

1920
01:35:13.319 --> 01:35:15.840
Right, And I think we're coming out band this segment.

1921
01:35:15.880 --> 01:35:17.880
But I think the third one comes to my mind

1922
01:35:18.159 --> 01:35:21.600
for sure, is specific instructions. I want to give this

1923
01:35:21.680 --> 01:35:23.560
kid when they turn thirty, or I want to give

1924
01:35:23.560 --> 01:35:25.840
this the money when they hit a new milestone. You

1925
01:35:25.840 --> 01:35:30.359
can't do that with a simple beneficiaries, or you might

1926
01:35:30.359 --> 01:35:32.119
be able to do it with a will, but it

1927
01:35:32.159 --> 01:35:33.760
seems a little easier to do it with the trust

1928
01:35:33.840 --> 01:35:35.520
and having specific instructions.

1929
01:35:35.560 --> 01:35:39.640
There's two types of trust. There's intervevos and testamentary. And

1930
01:35:40.279 --> 01:35:42.840
intervevos a Latin term for while you're alive, and it's

1931
01:35:42.840 --> 01:35:45.079
a trust that you create while you're alive. A testamentary

1932
01:35:45.119 --> 01:35:47.479
trust is one that's created through a will. And so

1933
01:35:47.560 --> 01:35:49.399
you can create a trust through a will, it's just

1934
01:35:49.520 --> 01:35:51.760
established through the probate. But why would you do that?

1935
01:35:52.239 --> 01:35:55.720
Why would you create a trust through a will when

1936
01:35:57.000 --> 01:35:58.199
it's going to have to go through probate.

1937
01:35:58.239 --> 01:35:59.039
Anyways, gotcha?

1938
01:35:59.279 --> 01:36:02.319
All right, Well, we appreciate you coming on this segment.

1939
01:36:02.359 --> 01:36:05.760
We had all had a great Sunday with you all listening.

1940
01:36:05.960 --> 01:36:09.239
We hope you all had a great Money Matters show.

1941
01:36:09.479 --> 01:36:12.439
And here at Greenberg Financial Group, we're looking to be happy.

1942
01:36:13.000 --> 01:36:15.079
We all want to be healthy, but at the end

1943
01:36:15.079 --> 01:36:17.800
of the day, what we're really trying to be isab