Fed Decides on Rates Again Next Week…Ready?

WEBVTT 1 00:00:00.520 --> 00:00:03.439 Good morning, Tucson, and this is Dean Greenberg. This is the Money 2 00:00:03.480 --> 00:00:08.320 Out of Show. We're right here eight o'clock on seven ninety K and S. 3 00:00:08.439 --> 00:00:11.679 T. Glad you can join us. Glad you've been able to join 4 00:00:11.759 --> 00:00:15.160 us for a long time. A lot of our listeners been listening for years 5 00:00:15.160 --> 00:00:18.320 and years and years. Some have been listening since the nineties. We've been 6 00:00:18.320 --> 00:00:24.160 doing the show for thirty four years now, and I enjoy it. I 7 00:00:24.199 --> 00:00:28.760 hope you enjoy it. We try to bring a little bit of levity to 8 00:00:29.480 --> 00:00:33.880 the markets, to investing. We talk about it from a money mountage side, 9 00:00:34.119 --> 00:00:39.640 financial planning side, financial advising side. We kind of give you to 10 00:00:39.640 --> 00:00:42.520 tell you what we're doing and how we do it and give you a little 11 00:00:42.520 --> 00:00:45.880 bit more insight to what things are going on. We try to take a 12 00:00:45.920 --> 00:00:50.880 common sense approach to it all, something that nobody else seems to be doing 13 00:00:50.960 --> 00:00:56.359 in our political world of things. We tried to understand there's two sides of 14 00:00:56.399 --> 00:01:02.679 stuff. We also tried to understand where there's opportunit unities and opportunities take time 15 00:01:02.719 --> 00:01:07.680 to to actually span out, and when they do pan out, they obviously 16 00:01:07.280 --> 00:01:12.280 do pretty well. But it's always quality that you have to look at for 17 00:01:12.359 --> 00:01:17.439 opportunities. This is the Moneymatter Show, and as you know, it's brought 18 00:01:17.439 --> 00:01:22.000 to you by Greenberg Financial Group. Greenberg Financial Group is both a registered investment 19 00:01:22.040 --> 00:01:26.040 advisory and they broke a dealer registered with the SEC. Members of SIPICK and 20 00:01:26.159 --> 00:01:30.359 members of FENRI. On the show, we talk a lot about product strategies, 21 00:01:30.439 --> 00:01:36.920 ideas, we have opinions. Everything has risk. I need you to 22 00:01:37.040 --> 00:01:40.760 understand that everything that you invest in, everything you do has some type of 23 00:01:40.840 --> 00:01:45.079 risk. Anything you do driving a car has risk. Everything you do. 24 00:01:45.200 --> 00:01:51.920 Understand the risk involved. It's no different with investing. Understand the risks. 25 00:01:53.159 --> 00:01:57.159 Even when things are going up. Understand eventually things don't always go up, 26 00:01:57.200 --> 00:02:00.120 and they turn and go down. And and once they go down, you 27 00:02:00.120 --> 00:02:04.359 know they turn and go back up. So where were That's where we're at 28 00:02:04.439 --> 00:02:07.360 right now. So where are we on the risk reward strategy? We'll probably 29 00:02:07.400 --> 00:02:12.319 about a six and a half, maybe getting closer to us seven right now 30 00:02:12.719 --> 00:02:16.479 on the risk tolerance, ten being the highest risk. And why do I 31 00:02:16.520 --> 00:02:20.360 say that? I say because we just keep moving up. Prices keep moving 32 00:02:20.439 --> 00:02:25.599 up, and they're going up in the face of our FED Chairman Powell talking 33 00:02:25.599 --> 00:02:30.639 about higher interest rates. So we'll find out this week whether he says things 34 00:02:30.639 --> 00:02:36.120 to propel the Santa Claus rally or he ends up being the scrooge he talks 35 00:02:36.159 --> 00:02:39.120 on Wednesday, they make a decision on Wednesday, they meet on Tuesday. 36 00:02:39.759 --> 00:02:46.199 That will be a big decision on how for investors, on how he discusses 37 00:02:46.280 --> 00:02:51.520 things, whether or not it's the same rhetoric he's been using higher for longer. 38 00:02:51.560 --> 00:02:53.599 We'll look at the data. Well, we had data, and this 39 00:02:53.719 --> 00:03:00.319 week the jobs report showed that we have more jobs created. They thought it 40 00:03:00.319 --> 00:03:04.800 was gonna be one ninety it was one ninety nine. Unemployment felled three point 41 00:03:04.919 --> 00:03:09.840 seven. November was only one hundred and fifty thousand jobs. So way up 42 00:03:09.879 --> 00:03:14.719 there from jobs and not decreasing. Even though interest rates have gone up, 43 00:03:14.840 --> 00:03:19.719 even though things are slowing, people are still getting jobs. I think a 44 00:03:19.759 --> 00:03:23.520 lot of that has to do with the fact you're coming out of that pandemic 45 00:03:23.560 --> 00:03:25.199 that they always talk about, and people are running out of money and say, 46 00:03:25.560 --> 00:03:28.719 I need to get a job, I need to do something, so 47 00:03:28.759 --> 00:03:30.960 they keep looking for opportunities. What they can do. You know, there's 48 00:03:31.319 --> 00:03:37.240 in November, in December, they start hiring in November for December, for 49 00:03:37.280 --> 00:03:43.199 the Christmas season, retail especially hospitality also, so you got a lot of 50 00:03:43.240 --> 00:03:46.800 that going on as we get through the through the end of the year. 51 00:03:46.479 --> 00:03:49.840 Do I think there's a big sell off coming, No, I don't. 52 00:03:49.879 --> 00:03:54.680 I actually think we're gonna stay neutral to propel a little higher. I could 53 00:03:54.680 --> 00:04:00.719 see as getting up to forty six fifty mayby stretch it, you know, 54 00:04:00.840 --> 00:04:02.840 forty seven hundred. Maybe. I don't know. The only thing that's going 55 00:04:02.879 --> 00:04:06.759 to bring it down to something that we don't expect, like Powell coming out 56 00:04:08.039 --> 00:04:10.919 and saying no, I'm not lowering interest rates. In fact, I'm going 57 00:04:11.000 --> 00:04:13.840 to raise interest rates. If he talks like that, the markets will fall. 58 00:04:14.879 --> 00:04:16.319 But then everyone's going to ask him, why do you say that, 59 00:04:17.199 --> 00:04:20.560 Why, why do you need to do that? Why do you got to 60 00:04:20.600 --> 00:04:25.800 crash the economy? You know? And we don't. We don't. What 61 00:04:25.920 --> 00:04:33.439 we need to do is see illustrious politicians do something. They need to do 62 00:04:33.519 --> 00:04:39.600 something other than making fed the Federal Reserve always handling the monetary side of things, 63 00:04:39.879 --> 00:04:44.519 They need to do something on the fiscal side and start making regulations to 64 00:04:44.600 --> 00:04:53.399 do things that will help help bring down the the inflation, help bring down 65 00:04:53.839 --> 00:04:59.600 the supply chain that they always use and everything else that they talk about. 66 00:05:00.279 --> 00:05:02.319 Obviously, when interest rates are so high, people holding on to their low 67 00:05:02.360 --> 00:05:05.519 interest rates. It happened so fast. If you have a three or around 68 00:05:05.519 --> 00:05:08.959 a three percent mortgage, why would you get rid of your house on any 69 00:05:09.279 --> 00:05:14.720 level that's cheap. Compared to where we are today, it's more than double. 70 00:05:15.279 --> 00:05:18.759 So of course there's not going to be a lot of inventory and prices 71 00:05:18.759 --> 00:05:25.000 are going to go higher, but that all hits a high level also, 72 00:05:26.240 --> 00:05:30.519 So you know what we've always talked about this, it's all about oil too. 73 00:05:31.920 --> 00:05:38.560 Energy is the biggest proponent of inflation. Oil prices will come down. 74 00:05:39.720 --> 00:05:43.600 They fell another four percent this week, and then they started to turn up 75 00:05:43.600 --> 00:05:47.480 at the end of the week as our government starts going back in and finally 76 00:05:47.560 --> 00:05:55.600 refilling our strategic petroleum reserves. And then they'll drain it off again when they 77 00:05:55.639 --> 00:05:59.120 think they need to do that. But we need to get that back up. 78 00:06:00.120 --> 00:06:05.040 But you know, if you listen this week, especially to President Trump 79 00:06:05.079 --> 00:06:12.720 talking about the oil fields up by Alaska that the Bidy administration was going to 80 00:06:12.720 --> 00:06:16.199 allow for drilling and turned it down, it was interesting that he said there's 81 00:06:16.319 --> 00:06:21.360 as much oil up in there at that area underground than pretty much in the 82 00:06:21.399 --> 00:06:30.680 Middle East. So when you think about that and you think about today's technology, 83 00:06:31.759 --> 00:06:38.680 why are we saying we have to go all electric? It makes no 84 00:06:38.800 --> 00:06:44.800 sense. That's like saying in your portfolio, just being a magnificent seven and 85 00:06:44.839 --> 00:06:47.240 that's all you need. Don't allocate any other way. Just stay in those 86 00:06:47.319 --> 00:06:53.519 high growth tech stocks. Sure for a while, that works great, till 87 00:06:53.519 --> 00:06:59.959 it doesn't. We do not have the capacity to just go all electric cars. 88 00:07:00.079 --> 00:07:09.240 Before twenty and thirty, there was all the motor companies, dealership signing 89 00:07:09.279 --> 00:07:15.319 off, sending letters to the White House telling them they cannot move these cars 90 00:07:15.879 --> 00:07:20.439 at these prices. We know they're getting subsidized now, but now they're subsidized, 91 00:07:20.600 --> 00:07:29.839 they're losing money over the subsidiation from the government. The saturation has happened. 92 00:07:29.839 --> 00:07:32.560 Everyone that wants to pretty much wanted an electric cars, got an electric 93 00:07:32.600 --> 00:07:40.800 car. The big humper is there. The big buying has already occurred. 94 00:07:41.000 --> 00:07:45.040 So where are they at now? Now You've got cars out there that people 95 00:07:45.079 --> 00:07:48.480 can't afford. So you bring down the prices and then the governments so well 96 00:07:48.519 --> 00:07:53.120 will subsidize you more. That means people that don't want electric cars, are 97 00:07:53.120 --> 00:07:59.040 paying for it through their taxes to the government. How many billions of dollars 98 00:07:59.040 --> 00:08:03.160 have they wasted on chart stations and not even implemented it over the last couple 99 00:08:03.199 --> 00:08:09.560 of years and putting charge stations together. You need an infrastructure before you can 100 00:08:09.639 --> 00:08:15.839 have a product. It's easy in California, and they'll go with anything that's 101 00:08:16.639 --> 00:08:20.959 you know, liberal, and they make money and they're able to go buy 102 00:08:22.000 --> 00:08:24.439 them and they oh, they makes them feel good about the way they live. 103 00:08:24.720 --> 00:08:31.000 That's fine, and they put a little bit of infrastructure there. But 104 00:08:31.160 --> 00:08:35.320 try going from California to Texas. How many days is that going to take 105 00:08:35.320 --> 00:08:37.960 you? And with all the stops you got to make, and hopefully that 106 00:08:39.000 --> 00:08:45.759 you find charge stations and they tell you three hundred and fifty miles that you 107 00:08:45.840 --> 00:08:50.279 get until you put on the air conditioner in the radio and it's down to 108 00:08:50.279 --> 00:08:56.559 about one hundred and fifty one hundred and seventy. So why don't we have 109 00:08:56.679 --> 00:09:03.799 gas, hybrid and electric and let people use It's always interesting to me that 110 00:09:03.840 --> 00:09:09.440 they're all about choice, all about choice, freedom up choice until they don't 111 00:09:09.480 --> 00:09:16.360 want you to choose something different than what they believe in. And it's getting 112 00:09:16.399 --> 00:09:26.919 worse and worse, and these politicians are getting tired and old and come up 113 00:09:26.919 --> 00:09:31.279 with no new ideas. It's the same old, same old, which means 114 00:09:31.279 --> 00:09:37.480 they stay in power over and over again with the same rhetoric. I don't 115 00:09:37.480 --> 00:09:43.600 know about you. I'm tired about talking about beating up wealthy people, taxing 116 00:09:43.600 --> 00:09:46.879 the wealthy people, when they do nothing in Congress to do something to change 117 00:09:46.919 --> 00:09:50.120 it. And listen to Elizabeth Warren earlier in the week, she was on 118 00:09:50.200 --> 00:09:52.120 again. I don't know why they have her on, but she's on, 119 00:09:52.799 --> 00:10:00.240 sprewing the same crap that she always does about wealth tax. Wealth tax. 120 00:10:00.279 --> 00:10:05.320 You know what wealth taxes. It's what your next word, your net worth 121 00:10:05.440 --> 00:10:09.360 is, And they want to tax you on that. That means unrealized gains, 122 00:10:09.399 --> 00:10:13.360 things that you never even sold and have no idea what the gain is. 123 00:10:13.840 --> 00:10:15.879 You need to get it to praise and they'll tell you, and you're 124 00:10:15.919 --> 00:10:22.799 gonna get taxed on it year after year after year. That is, they 125 00:10:22.840 --> 00:10:30.360 talk about pay your fair share. That ain't a fair share. Let's take 126 00:10:30.360 --> 00:10:33.600 it for them rich given to the poor. The rich will give to the 127 00:10:33.639 --> 00:10:39.240 poor, and they'll make sure they don't pay the taxes to the government, 128 00:10:41.240 --> 00:10:46.519 but unrealized gains. How do you do that and then when you sell it 129 00:10:46.559 --> 00:10:48.679 and you got a loss, now you're going to take it as a loss. 130 00:10:48.440 --> 00:10:52.279 Makes no sense. All they're trying to do is crumble people that have 131 00:10:52.360 --> 00:10:58.720 been successful, wealthy families. I get it. Some people like that people 132 00:11:00.159 --> 00:11:03.440 they don't think they you know what enough is? Enough is enough? You 133 00:11:03.440 --> 00:11:07.120 know these people that are billionaires, they didn't plan out to be a billionaire. 134 00:11:07.799 --> 00:11:13.200 They became billionaires because whatever they were doing took off because people like you 135 00:11:13.279 --> 00:11:16.240 and I wanted their products, wanted their ideas, wanted the buy from their 136 00:11:16.279 --> 00:11:20.000 companies in their stock rows. Because the company kept making money and they had 137 00:11:20.000 --> 00:11:26.720 millions and millions of shares, and that's why they become multi billionaires. You 138 00:11:26.720 --> 00:11:31.759 think Jeff Bezos thought that he was going to be worth the money he is. 139 00:11:33.080 --> 00:11:37.519 Or Eli Musk or Bill Gates, they started different type of companies. 140 00:11:37.559 --> 00:11:41.639 One's a tech company. Think about that, Elin Musk, things outside the 141 00:11:41.679 --> 00:11:46.080 box. He's got spaceships, he's got electric cars, he got battery companies. 142 00:11:46.600 --> 00:11:50.840 He's got this boring company. He's got so much. He doesn't look 143 00:11:50.840 --> 00:11:52.639 in there, how much money can I make off this stuff? He creates 144 00:11:52.720 --> 00:12:00.000 ideas that people want from his company. He owns the shares they go higher. 145 00:12:00.039 --> 00:12:05.639 Yeah. The only person that really ever made money off of people like 146 00:12:05.679 --> 00:12:09.320 you and I the same way who stocks was Warren Buffett. I don't hear 147 00:12:09.360 --> 00:12:13.440 people saying, oh, Warren Buffett, we should take money from him. 148 00:12:13.679 --> 00:12:20.759 He's too rich. He made money in stocks buying companies, the same companies 149 00:12:20.799 --> 00:12:28.799 that everybody complains about, insurance companies, banks, These people that put themselves 150 00:12:28.879 --> 00:12:31.120 on the line. You think you think Bill Gates ever thought that working out 151 00:12:31.159 --> 00:12:35.000 of his garage with the software from Microsoft, that come to what it is. 152 00:12:35.039 --> 00:12:37.440 But you know what, they did a great job, and they and 153 00:12:37.480 --> 00:12:39.519 the people that succeeded them did a great job, and they have a product 154 00:12:39.519 --> 00:12:46.919 that everyone in the world needs. That's technology Amazon. I don't think have 155 00:12:46.000 --> 00:12:50.080 to worry. Half the world can live without Amazon. We've gotten so used 156 00:12:50.080 --> 00:12:56.919 to ordering something and happening there in two days, and then and then with 157 00:12:56.919 --> 00:13:03.399 with uh Eli Musk and all these different companies. That's how they get rich 158 00:13:03.519 --> 00:13:07.480 like that. It's not because they're getting a paycheck and they're getting paid more, 159 00:13:09.720 --> 00:13:16.360 all right. So if you want to change the way the people like 160 00:13:16.399 --> 00:13:22.000 Warren Buffett and the hedge fund people, and these people making hundreds of millions 161 00:13:22.039 --> 00:13:28.080 of dollars a year and paying only long term gains and less change the rules, 162 00:13:28.399 --> 00:13:33.679 don't spou out that they need to pay and get well taxed in this 163 00:13:33.799 --> 00:13:41.360 and that warrant. You guys had opportunities to change it, and and and 164 00:13:41.600 --> 00:13:50.960 actually with Cinema that decided against it, and they had to scrap it because 165 00:13:50.000 --> 00:13:56.120 hedge funds they get if they look at it as a fundy and when they 166 00:13:56.159 --> 00:14:00.360 get money, the way they earn them money is put it into the shows. 167 00:14:00.720 --> 00:14:03.679 They get more shares and the next thing you know they sell the shares 168 00:14:03.759 --> 00:14:07.080 is long term capital gains instead of thirty five forty percent. That's how they 169 00:14:07.080 --> 00:14:15.240 save money. Okay, that's a good thing. Change it if you don't 170 00:14:15.320 --> 00:14:18.639 like it. Real estate people make and complain about real estate. All these 171 00:14:18.679 --> 00:14:26.399 real estate people making millions and millions of dollars. Of course, you're not 172 00:14:26.440 --> 00:14:31.080 going to change you because they give you so much money. But the depreciation 173 00:14:31.240 --> 00:14:35.080 and everything else, but that's what you need. You need people to invest. 174 00:14:35.120 --> 00:14:41.559 Who's going to do that? People take chances and they use it as 175 00:14:41.559 --> 00:14:45.679 the guidelines. If you wanted to change something, you know, would step 176 00:14:45.759 --> 00:14:52.159 up basises and all that stuff. Look at it, but don't decide that 177 00:14:52.200 --> 00:14:56.039 you're going to just go ahead and tax people. Elizabeth Warren's been on this 178 00:14:56.120 --> 00:15:00.159 kick forever, you know, and you know that they never want to do 179 00:15:00.200 --> 00:15:03.879 a flat tax because obviously a flat tax would not go overwhelm with them, 180 00:15:05.519 --> 00:15:09.480 all right, because the people that give them their donations don't want to probably 181 00:15:09.519 --> 00:15:13.200 have a flat tax because they would pay more. So they'll pay millions to 182 00:15:13.240 --> 00:15:22.720 go ahead and pay no taxes. Sell the idea. And then you have 183 00:15:22.279 --> 00:15:31.480 Congress. And I'm going to give congresswomen Stephanick a lot of credit. I 184 00:15:31.679 --> 00:15:39.600 listened to her the other day go against all three of the presidents, Penn 185 00:15:39.639 --> 00:15:50.559 and Harvard. They forgot the other one about the way their students are acting 186 00:15:50.639 --> 00:16:04.720 on their campuses and how they won't go head and say that's basically hate speech 187 00:16:07.440 --> 00:16:14.000 when they're chanting genocide to the Jews, Destroy the Jews, wipe out the 188 00:16:14.080 --> 00:16:22.320 Jews, take back Israel. You know what, these presidents became political and 189 00:16:22.360 --> 00:16:26.799 they started saying, nobody should have hate speech, nobody should be doing this. 190 00:16:26.120 --> 00:16:30.320 We don't condone that we don't do this. Well, you don't condemn 191 00:16:30.399 --> 00:16:34.720 it because you've allowed it on your campuses. You've allowed signs, you've allowed 192 00:16:34.799 --> 00:16:44.679 chance, you have allowed protests basically saying genocide to the Jews. You've been 193 00:16:44.679 --> 00:16:51.600 there allowing them to back up Palestine Hamas without the separation between the Palestinian people 194 00:16:51.919 --> 00:16:57.000 and the terrorist group called Hamas. Hamas is the government that's running the Palestinians, 195 00:16:57.519 --> 00:17:03.120 who the Palestinian people have had an uprise against, and allow them as 196 00:17:03.200 --> 00:17:11.799 terrorists to kill all the Jews. But because the Jewish people of Israel have 197 00:17:11.960 --> 00:17:18.839 fought back in a manner that can wipe out Hamas, and unfortunately a lot 198 00:17:18.839 --> 00:17:26.200 of Palestinian innocent people will be killed. They want to genocide the Jews, 199 00:17:27.640 --> 00:17:37.039 and the people on the campuses are the presidents are not condoning it. I 200 00:17:37.079 --> 00:17:41.079 have no idea if the presidents are anti Semites or not. Obviously you put 201 00:17:41.079 --> 00:17:45.599 one and one together you say they're anti Semites. That's not what I'm believing. 202 00:17:45.839 --> 00:17:49.799 I think that the presidents of universities are so weak and cow talented the 203 00:17:49.839 --> 00:17:56.279 media that they cannot come out with a straight answer and not allow that to 204 00:17:56.359 --> 00:18:04.039 happen. Could you imagine that the same thing happened with another race, Blacks, 205 00:18:04.160 --> 00:18:11.160 Asians or whatever. They would never allow them the protest, never allowing 206 00:18:11.200 --> 00:18:15.519 the protests, and they shouldn't be allowed to protest against a race or color 207 00:18:17.240 --> 00:18:22.240 of people. But for some reason, I don't know what people think Jews 208 00:18:22.240 --> 00:18:26.839 are, but they are people. Yes, it's a religion too, Jewish 209 00:18:26.960 --> 00:18:30.599 is a religion. But Jews are people, no different than blacks, no 210 00:18:30.640 --> 00:18:37.000 different than Asians, no different than Hispanics, and no different than white. 211 00:18:37.000 --> 00:18:41.119 But you know, the only two people that they can go ahead and protests 212 00:18:41.119 --> 00:18:45.319 against are whites and Jews. Maybe it's because Jews are whites. I have 213 00:18:45.400 --> 00:18:52.200 no idea. I filled in last week for Garry lusa's show, and one 214 00:18:52.200 --> 00:18:56.519 of the things I asked is why do people hate Jews. People couldn't come 215 00:18:56.559 --> 00:19:00.279 up with a real answer. But so, for some reason on in these 216 00:19:00.319 --> 00:19:06.039 college campuses, if they're protesting against Jews, which is basically protesting against America 217 00:19:06.079 --> 00:19:15.960 for helping Israel and helping them defend themselves, that's not okay and something's got 218 00:19:15.960 --> 00:19:18.240 to change. And what they say is, well, it's not what they 219 00:19:18.319 --> 00:19:22.799 say, it's the conduct of the people. So in other words, you've 220 00:19:22.839 --> 00:19:26.480 got to kill Jews to stop the protests that they want to kill Jews. 221 00:19:29.799 --> 00:19:34.480 That makes no sense to me and to most people it doesn't. But they 222 00:19:36.000 --> 00:19:38.400 are weak. These presidents are weak because they can't stand up and say no, 223 00:19:40.920 --> 00:19:44.400 we are not going to allow you to protest where you're calling for the 224 00:19:44.559 --> 00:19:48.799 death of anybody, and in this case, you're calling for the death of 225 00:19:48.839 --> 00:19:52.119 all the Jews, and we are not gonna let you protest and put up 226 00:19:52.160 --> 00:19:56.759 those signs you want to tell. If you want to talk about peace, 227 00:19:57.160 --> 00:20:00.359 if you want to talk about stuff, that's fine, But when as soon 228 00:20:00.400 --> 00:20:07.759 as you step over the line and start talking about hatred and killing a whole 229 00:20:07.839 --> 00:20:14.559 nationality because they're defending themselves, We as a president and president is not going 230 00:20:14.599 --> 00:20:18.400 to allow that at our universities. And if they were, if that was 231 00:20:18.440 --> 00:20:25.480 what everyone wanted, they wouldn't be losing all these donations and all this money, 232 00:20:25.640 --> 00:20:27.440 and the people wouldn't be there. And how the media is allowing this 233 00:20:27.519 --> 00:20:38.319 to happen is incredibly irresponsible. What the schools need to do is actually teach 234 00:20:40.400 --> 00:20:48.160 these students on how to protest proactively in a manner that they're not just destroying 235 00:20:48.920 --> 00:20:56.799 and putting out there to kill Jews or Asians or whoever they're going against without 236 00:20:56.839 --> 00:21:00.920 the backlash of people coming in and saying, you gonna go ahead and talk 237 00:21:00.960 --> 00:21:07.119 about killing me, I'm gonna wipe you out first. That's what's gonna happen. 238 00:21:07.559 --> 00:21:11.839 Okay, if they continue to let this happen, there's gonna be another 239 00:21:11.880 --> 00:21:15.400 group on the other side that's going to come in and destroy them. We 240 00:21:15.440 --> 00:21:21.559 don't like, we don't let the white supremacist say they hate Jews or blacks 241 00:21:22.039 --> 00:21:23.799 or anything else. But we don't let's just steal with the Jews here. 242 00:21:23.960 --> 00:21:29.240 We do not let them talk about how they want to kill the Jews. 243 00:21:29.839 --> 00:21:33.039 Hell no, if if a white supremacist went ahead and said that they're in 244 00:21:33.119 --> 00:21:37.519 trouble. But for some reason, we're letting students on campus be able to 245 00:21:37.559 --> 00:21:42.440 protest against there. And we constantly put in more and more of these gender 246 00:21:42.480 --> 00:21:48.680 type classes and and and and and and race classes and all these other things 247 00:21:48.759 --> 00:21:52.920 rather than teaching them how to how to actually learn. And I've told you 248 00:21:52.960 --> 00:21:57.240 this, and it scares me that we have the power people coming out of 249 00:21:57.519 --> 00:22:03.559 these Ivy League schools who end up becoming the politicians of power in our country. 250 00:22:03.000 --> 00:22:06.079 And if this is the way they think. Now, why are they 251 00:22:06.160 --> 00:22:10.480 going to change their mind in ten or twenty or thirty years. They're not. 252 00:22:11.759 --> 00:22:17.799 They're not. And maybe this opens the eyes to corporations and everybody else 253 00:22:18.079 --> 00:22:22.599 realizing that these kids now are so many generations down, a bunch of spoiled 254 00:22:22.640 --> 00:22:29.160 brats with a lot of money that just want to go ahead and cut down 255 00:22:29.160 --> 00:22:37.839 America. They've got the power because they have money that needs to change. 256 00:22:37.440 --> 00:22:41.279 Look for your best opportunities. Stop saying that everyone has to get in there 257 00:22:41.319 --> 00:22:45.359 because we have to have certain races and certain things. And I be able 258 00:22:45.400 --> 00:22:49.000 to give opportunities to the people that are willing to make the opportunities. Hell, 259 00:22:49.119 --> 00:22:52.440 school is so easy now. If you can't get over three h three 260 00:22:52.519 --> 00:22:56.640 five in school, that means you're lazy and you're not learning. And if 261 00:22:56.640 --> 00:23:00.680 you have a learning disability, they're going to help you. Schools aren't tough 262 00:23:00.759 --> 00:23:08.960 anymore. Laws aren't tough anymore, rules aren't tough anymore. Everybody keeps changing 263 00:23:10.000 --> 00:23:15.720 it. What we need to do to get America strong again is stop allowing 264 00:23:15.720 --> 00:23:19.359 those inside keep eating us away. We got to stop protests against each other. 265 00:23:19.359 --> 00:23:23.640 We got to stop protests against racing races. We got to stop this 266 00:23:25.640 --> 00:23:29.400 again. You wouldn't let white supremacst be there. Why you're letting the people 267 00:23:29.400 --> 00:23:34.160 that these youth of America in our colleges stand up and do this. And 268 00:23:34.200 --> 00:23:38.440 of course it's all the liberals colleges, all the liberal cities and where they're 269 00:23:38.440 --> 00:23:44.160 going to take America from there. There's a problem people, because it's a 270 00:23:44.240 --> 00:23:48.559 smaller group of people that are going against the rest of America of what their 271 00:23:48.559 --> 00:23:52.480 beliefs are. If not, the money that's coming out and not getting donated 272 00:23:52.519 --> 00:23:57.160 to these schools is in the hundreds of billions of dollars probably by now. 273 00:23:59.279 --> 00:24:03.720 But the schools don't care because they have these incredible endowments and the parents that 274 00:24:03.759 --> 00:24:07.160 send their kids they have all this money because they think they're special and they 275 00:24:07.160 --> 00:24:08.960 think they can do everything. And look at all the cheating that went on 276 00:24:10.039 --> 00:24:14.319 with Hollywood, the hypocrites of Hollywood to get their kids into these schools. 277 00:24:15.000 --> 00:24:18.839 Live a lot to playing field. Those that earn and get it. The 278 00:24:18.880 --> 00:24:23.319 rest of you stop protesting and start getting tough enough to realize that America is 279 00:24:23.359 --> 00:24:26.119 the best country in the entire world. We'll be back. It's the money 280 00:24:26.160 --> 00:24:34.680 mated show. Thanks so much for listening. Welcome back everybody, Money Matty 281 00:24:34.720 --> 00:24:38.880 Show right here, seven ninety Knisy, we got Dave Sherwood, Dylan Greenberg, 282 00:24:40.440 --> 00:24:45.400 Todd Glick and myself Dean Greenberg bringing you the best the ability to what's 283 00:24:45.400 --> 00:24:49.519 going on. Absolutely another little down week, not upweek. I mean six 284 00:24:49.599 --> 00:24:52.960 in a row. Yes, you know what's six in a row, Six 285 00:24:53.079 --> 00:24:56.599 up weeks in a row for the S and B five hundred. It's correct, 286 00:24:56.680 --> 00:24:59.480 six up weeks in a row. It took six up weeks in a 287 00:24:59.559 --> 00:25:02.720 row to get back to where we were in July zero point. Yeah, 288 00:25:02.839 --> 00:25:04.839 there's nothing the dow. You see the dow. The dow was up three 289 00:25:04.880 --> 00:25:11.240 point I know for the week, but the last a sixth consecutive week of 290 00:25:11.319 --> 00:25:15.240 games. Yep, right back to the peak. Like you said, a 291 00:25:15.359 --> 00:25:18.160 new fifty two week high for the S and P five hundred, and fifty 292 00:25:18.160 --> 00:25:22.559 two week high for the Doubt. Goldie Locks is alive and well. Everything 293 00:25:22.640 --> 00:25:30.000 is just right except for quick evaluations, quick take a picture. Well we'll 294 00:25:30.000 --> 00:25:33.039 find out this week how much Power likes where we're at. It's going to 295 00:25:33.119 --> 00:25:38.359 be very important what the chairman and his group think about what's happening. I 296 00:25:38.440 --> 00:25:41.519 mean, everyone saw it, keeps thinking that we're going to have lower interest 297 00:25:41.599 --> 00:25:45.599 rates next year, don't I don't see it. I don't see, but 298 00:25:45.599 --> 00:25:48.160 they keep talking about it, and I'm like, where does this come from? 299 00:25:48.680 --> 00:25:52.839 You know what I mean? You cut interest rates under one circumstance, 300 00:25:53.519 --> 00:25:56.279 you have a disaster in the economy and you got to protect them. It's 301 00:25:56.279 --> 00:26:00.640 not good, right, not good. And if that happens the markets are 302 00:26:00.680 --> 00:26:03.279 going down, or if you have GDP, you know, not being positive 303 00:26:03.279 --> 00:26:07.839 for two consecutive quarters, possibly three, that's another sign that you need to 304 00:26:07.880 --> 00:26:11.960 cut rates because you don't have activity in your country. Had that they didn't 305 00:26:11.960 --> 00:26:15.440 cut rates, We had it barely, Yeah, and that was last year 306 00:26:15.759 --> 00:26:18.599 we talked about. That was that was when they were in their rate hiking 307 00:26:18.640 --> 00:26:22.079 site. So that's not always true. Because we were doing that, they 308 00:26:22.079 --> 00:26:25.839 were raising rates. They were hoping then we're going to slow down. But 309 00:26:25.920 --> 00:26:29.599 somehow the economy is a slow down because people still spend money. Where's this 310 00:26:29.720 --> 00:26:32.720 money coming from? Well, well, we know where the money is coming 311 00:26:32.720 --> 00:26:37.119 from. It's all in the cash position. Everyone has huge cash positions, 312 00:26:37.240 --> 00:26:42.279 so taking from their investments, then well a lot of people had increased savings 313 00:26:42.319 --> 00:26:45.440 from the pandemic. Okay, so cash levels were at at all time high 314 00:26:45.519 --> 00:26:48.559 during the pandemic, So they're taking from the savings, which is yeah, 315 00:26:49.119 --> 00:26:55.599 it's cutting down. Credit cards are going higher, yes, okay, most 316 00:26:55.599 --> 00:26:57.839 people's credit cards that don't pay them off every month because most people can't do 317 00:26:57.960 --> 00:27:03.759 that keep creeping up, not only because of buying stuff and doing things, 318 00:27:03.200 --> 00:27:08.359 but because the interest is fifteen to twenty twenty five percent. Yeah, you 319 00:27:08.400 --> 00:27:12.559 know, credit card debt is is at record highs. The title loan business 320 00:27:12.640 --> 00:27:17.039 is booming, the pawn shop business is booming. But I don't think that 321 00:27:17.400 --> 00:27:19.559 is the money that's fueling the market deing. So your question is an interesting 322 00:27:19.599 --> 00:27:27.279 one. There's still all time highs in money market funds held currently really so, 323 00:27:27.440 --> 00:27:30.079 and this is a lot because you get five percent now, right, 324 00:27:30.240 --> 00:27:33.400 so okay, and it's hard to take the risks to get all if you 325 00:27:33.400 --> 00:27:37.880 can get five percent in some of these money market funds and the mygos and 326 00:27:37.920 --> 00:27:40.319 all this other stuff to go do anything. Yeah, Well you can be 327 00:27:40.359 --> 00:27:42.160 seeing right now is that they do have the money and the money markets. 328 00:27:42.160 --> 00:27:45.440 But it is like Day just said, the FOMO. If you're missing out 329 00:27:45.960 --> 00:27:48.960 for the Santa Claus rally in November, and January is historically a good month 330 00:27:49.000 --> 00:27:52.960 as well. So that's what maybe is fueling the market right now, is 331 00:27:52.960 --> 00:27:55.160 that money that's on the side is now being put to work so they don't 332 00:27:55.200 --> 00:27:57.920 miss out. Seventy two billion dollars was inflow to equities in November, so 333 00:27:59.319 --> 00:28:04.839 that money marketsket was also low in October, right, and I don't increase 334 00:28:04.920 --> 00:28:08.759 through November. People got the FOMO because here's a problem. What makes stocks 335 00:28:08.759 --> 00:28:15.519 go higher money money new money, not the old money. Otherwise you see 336 00:28:15.559 --> 00:28:18.200 what happens is the doll will go up, the doll will sell off, 337 00:28:18.200 --> 00:28:21.880 and that money are going to uh uh uh knave Zach, then Daves Thatch 338 00:28:21.880 --> 00:28:23.319 goes up, nas that go sol off, and then the dial and that's 339 00:28:23.319 --> 00:28:26.599 a bill go up. So it's just a rotation of same money. For 340 00:28:26.680 --> 00:28:30.240 the markets to go up and make new highs, more people need to be 341 00:28:30.240 --> 00:28:34.880 committed with new money. The only time new money comes in is like January 342 00:28:36.000 --> 00:28:40.279 through basically April, with all the money coming in, there is new money, 343 00:28:40.279 --> 00:28:42.359 though, because the Federal Reserve has not been as restrictive on their balance 344 00:28:42.359 --> 00:28:45.720 sheet that they said they would be and a lot of that has to do 345 00:28:45.799 --> 00:28:49.599 with showing up the regional banks. They are still lending a lot of money 346 00:28:49.599 --> 00:28:52.640 to the regional banks to show up that they have a lot of unrealized losses 347 00:28:52.640 --> 00:28:56.680 on all their securities positions, the same thing that happened back in March on 348 00:28:56.720 --> 00:29:00.000 their treasuries. So the regional banks are still taking a lot of money from 349 00:29:00.400 --> 00:29:03.920 the FED, and that's where the new money could be coming from. But 350 00:29:03.960 --> 00:29:06.920 the FED might have unrealized losses on the treasure, but it doesn't matter. 351 00:29:07.039 --> 00:29:10.359 No regional banks have the unrealized losses. And so the Fed's giving the regional 352 00:29:10.359 --> 00:29:15.680 banks the money to shore up that collateral issue. We saw the Uh yeah, 353 00:29:15.759 --> 00:29:19.599 so I just are lending it maybe yeah, But then it becomes a 354 00:29:19.759 --> 00:29:23.000 it's a windows ability to them because the FED just created that new tool in 355 00:29:23.119 --> 00:29:29.279 March to in response to the banking crisis. Yeah. I was thinking during 356 00:29:29.319 --> 00:29:32.880 the week we talked about the PCE last week, right, and it struck 357 00:29:32.960 --> 00:29:37.720 me that the PCE, the personal consumption expenditures, right, and which is 358 00:29:37.799 --> 00:29:41.640 which is the Fed's favorite number, was up two tenths of a percent for 359 00:29:41.680 --> 00:29:45.880 October, and multiply that time twelve that's two point four what the Fed wanted 360 00:29:45.960 --> 00:29:48.720 to be two. I mean, you're there, Yeah, you're there, 361 00:29:49.240 --> 00:29:53.559 You're essentially there. It just seems like they would be holding until something really 362 00:29:55.319 --> 00:29:57.400 big happens. Right Why would they be so quick the cut rates when they 363 00:29:57.440 --> 00:30:00.559 can just keep them here because you, like you said, Dave, we 364 00:30:00.599 --> 00:30:04.279 have this Goldilock scenario right now, what would cause him to really want to 365 00:30:04.319 --> 00:30:08.359 cut The last comments we had out of Powell would during this past week was 366 00:30:08.720 --> 00:30:11.839 I'm gonna have to raise them. I might have to raise rates again. 367 00:30:12.400 --> 00:30:18.200 So there's no talk about cutting what do you mean talk from everywhere else? 368 00:30:18.279 --> 00:30:22.480 But that's what he wanted, not from the people that actually make the decisions. 369 00:30:22.680 --> 00:30:25.960 Pow wanted to shut that down real quick because everybody was being optimistic about 370 00:30:26.079 --> 00:30:27.279 rate cuts coming next year, and he wanted to shut that down. I 371 00:30:27.279 --> 00:30:30.920 mean, that's why I think he went to the other end of the pendulum 372 00:30:30.920 --> 00:30:34.640 saying my race rates. He did the same thing in Jackson Hole right about 373 00:30:34.640 --> 00:30:37.640 a year ago, and then the markets sold off. It was one of 374 00:30:37.640 --> 00:30:41.880 the biggest drops for the S and P in a single day in years because 375 00:30:41.920 --> 00:30:44.640 of that. So that could be a setup for what he's trying. The 376 00:30:44.680 --> 00:30:48.880 markets have rallied in October, the market did the work for pal Right now, 377 00:30:48.000 --> 00:30:52.839 the market's against Powell here, so Powell may say, you know, 378 00:30:52.960 --> 00:30:56.920 you guys have gone up too fast. Our big number number of the month 379 00:30:56.119 --> 00:30:59.799 as far as we're concerned. Right next week, on the twelfth, the 380 00:31:00.119 --> 00:31:06.240 CPI and on the thirteenth the PPI. Next week, so something to watch 381 00:31:06.279 --> 00:31:10.880 for. On the fourteenth, we get retail sales. So a few things 382 00:31:10.519 --> 00:31:12.039 in the Fed talk next week, Dean, there's some stuff coming up next 383 00:31:12.039 --> 00:31:18.440 week that could move the market. I guess, as someone with forty two 384 00:31:18.559 --> 00:31:22.519 years of experience at this, my biggest concern right now is just it is 385 00:31:22.559 --> 00:31:26.920 so complacent market's going higher. Had a technical analyst on she thinks it's going 386 00:31:27.000 --> 00:31:30.920 to be another what four or five percent higher by the end of the year. 387 00:31:30.119 --> 00:31:33.640 Well that's two weeks away, three weeks away, I mean, you're 388 00:31:33.680 --> 00:31:38.079 serious. And the VIX index, I think Sebastian has said it was at 389 00:31:38.119 --> 00:31:42.519 a two year low lowess since twenty twenty January, the lowest since twenty twenty 390 00:31:42.920 --> 00:31:48.160 six being the fear index. The fear index, and when markets get this 391 00:31:48.319 --> 00:31:52.000 complacent, it's not good. It's not good. So I will say it's 392 00:31:52.039 --> 00:31:56.839 Goldielock scenario. I understand why the market's happy. I understand why it's content, 393 00:31:56.720 --> 00:32:00.160 but just way too much complacency. Well you saw that in the bond 394 00:32:00.160 --> 00:32:04.720 market, and they responded. The inversion actually increased this week based on the 395 00:32:04.799 --> 00:32:07.960 jobs report, and it's now about fifty bases points and last week it was 396 00:32:08.000 --> 00:32:14.039 about forty four. So the market is not really thinking that. The bond 397 00:32:14.039 --> 00:32:16.839 market doesn't like the last jobs report that came out on Friday. I mean, 398 00:32:16.839 --> 00:32:20.200 did we talk about the jobs report? How it came out. The 399 00:32:20.279 --> 00:32:22.720 unemployment took down from three point nine to three point seven average hour of the 400 00:32:22.759 --> 00:32:27.799 earnings came in a little hotter than expected, but the market really shrugged off. 401 00:32:27.799 --> 00:32:30.559 The report opened lower but finished higher, right right, Yeah, it's 402 00:32:30.559 --> 00:32:35.319 funny, isn't it. The jobs report came out hotter than expected, interest 403 00:32:35.400 --> 00:32:37.920 rates jumped up for the first time in quite a while, and the market 404 00:32:38.119 --> 00:32:43.359 initially sold off and then screamed to a new fifty two weeks high. Yep, 405 00:32:44.000 --> 00:32:47.440 oh it. You know the interest rates have really dropped since the ten 406 00:32:47.480 --> 00:32:52.839 twenty three peak. Yeah, the ten year Treasury's gone from five to four 407 00:32:52.880 --> 00:32:55.599 point two. Todd I think you mentioned mortgage rates. Yeah, week seven 408 00:32:55.640 --> 00:33:00.240 point zero two, lowest since October, lowest since October. Sorry August, 409 00:33:00.359 --> 00:33:04.279 I don't okay, that makes August. Yeah, so four months low. 410 00:33:04.400 --> 00:33:08.000 Yeah. So that oil below seventy dollars this past week for the first time 411 00:33:08.359 --> 00:33:12.839 since July. Yeah, after production cuts. Yeah, and that ended the 412 00:33:12.839 --> 00:33:15.279 week down four and a half percent too. I mean it got back over 413 00:33:15.319 --> 00:33:17.519 seventy seventy one twenty, but yeah, I still got under seventy for the 414 00:33:17.559 --> 00:33:21.839 first time in a while. Does he? Gold This week Golden hammered down 415 00:33:21.960 --> 00:33:24.759 seventy one dollars back to two thousand dollars, And of course that's a tick 416 00:33:24.839 --> 00:33:28.759 up in the dollars part of that. And we talked about it last week. 417 00:33:28.759 --> 00:33:31.759 It was the fourth time it hit that that zone. It was basically 418 00:33:31.759 --> 00:33:37.039 now a quadruple top, and it actually screamed higher over the weekend, but 419 00:33:37.160 --> 00:33:40.640 then Monday it just sold off big time, and then it continues selling off 420 00:33:40.640 --> 00:33:45.680 throughout the week. How about Bitcoin, it's been just insane. Bitcoin above 421 00:33:45.720 --> 00:33:49.119 forty thousand for the first time in quite a while, trading on like forty 422 00:33:49.119 --> 00:33:52.680 four thousand now had like forty four now. Yeah, Friday it was eleven 423 00:33:52.720 --> 00:33:55.240 percent this week if you include the weekends. What was the on time high 424 00:33:55.240 --> 00:33:59.519 in bitcoin sixty eight thousand, sixty eight sixty eight. Yeah, that's the 425 00:33:59.519 --> 00:34:04.000 first time nineteen months, it's been about forty. Yeah, it's it's very 426 00:34:04.000 --> 00:34:07.719 interesting space right now. And you have a lot of inflows in the digital 427 00:34:07.719 --> 00:34:10.280 assets. It's not just bitcoin. You can see ethereum, you can see 428 00:34:10.280 --> 00:34:13.880 all the you know, you're gonna hear a lot of advertisements start. You're 429 00:34:13.880 --> 00:34:15.719 gonna it's like gold. You know, when when things like that start to 430 00:34:15.760 --> 00:34:20.360 really take off, do not go for the really risky stuff like this is. 431 00:34:20.679 --> 00:34:23.199 I just can't figure out what makes bigcoin go up and down. Somebody 432 00:34:23.239 --> 00:34:25.719 on the other end is willing to pay the forty four thousand. I don't, 433 00:34:25.760 --> 00:34:30.440 but it seems to manipulated to make just we can have a talk later, 434 00:34:30.760 --> 00:34:34.079 Okay. It just seems Jamie Diamond said he shut the whole darn thing 435 00:34:34.119 --> 00:34:37.159 down. Of course he's a banker. President, yeah, the president VP 436 00:34:37.239 --> 00:34:40.320 Moore. But you know, of course, it's opportunity to buy what was 437 00:34:40.320 --> 00:34:45.280 it two years ago? Boeing was at ninety nine dollars, ninety eight dollars 438 00:34:45.000 --> 00:34:47.480 and that was two forty five or something, right, you know, when 439 00:34:47.480 --> 00:34:51.519 everyone thought that would work. It's like I keep saying, by good companies 440 00:34:51.559 --> 00:34:53.320 like that. So I look around and you see what companies are down there. 441 00:34:53.360 --> 00:34:57.679 Like Target went down all the way down to what one and I think 442 00:34:57.679 --> 00:35:00.440 it was one eleven. It's about that back down back up to one thirty 443 00:35:00.480 --> 00:35:05.239 five. Rating on dropped down to the low seventies, back into the eighties. 444 00:35:05.280 --> 00:35:07.880 Probably gonna over time, could move up by it, but people don't 445 00:35:07.880 --> 00:35:15.719 give those times. There's always opportunities in these good companies that produce things that 446 00:35:15.760 --> 00:35:20.679 we need that if you buy them when they get just whacked out for whatever 447 00:35:20.719 --> 00:35:23.440 reason, you wait two three, four years and they do a good job 448 00:35:23.480 --> 00:35:27.000 coming back. Talking Disney too, I mean that was that. That's another 449 00:35:27.119 --> 00:35:30.639 that's the other value pushing almost two one hundred sometimes, right, I mean 450 00:35:30.760 --> 00:35:35.039 the tiser's that one to fifty plus. I'm sorry, we're coming around a 451 00:35:35.039 --> 00:35:37.119 break here, but I've got more about that when you come back. Yeah, 452 00:35:37.280 --> 00:35:39.639 more after the break, because I've got something really kind of interesting. 453 00:35:39.840 --> 00:35:43.760 You know, it's funny when somebody interrupts and they say I'm sorry I'm interrupting. 454 00:35:44.480 --> 00:35:47.159 Are they sorry or they wanted to interrupt, interrupting, say goodbye to 455 00:35:47.239 --> 00:35:52.679 everybody. We have a break. I'm so sincerely against the money battage show. 456 00:35:53.079 --> 00:36:07.519 We do love each other. Say it's only a welcome back, everybody. 457 00:36:07.840 --> 00:36:10.199 This is Dean Greenberg bringing you the money back to show with Dave and 458 00:36:10.320 --> 00:36:15.280 Dylan and Todd. So we got three new companies going into the SMP five 459 00:36:15.360 --> 00:36:19.960 hundred as of twelve eighteen this year. You got Uber, JBL and Builder's 460 00:36:20.000 --> 00:36:24.840 first source. They are replacing Sealed there Alaska Air Group and Solar Edge Technologies 461 00:36:24.880 --> 00:36:30.440 which got hammered. That's a solar company that just got absolutely killed, obliterated. 462 00:36:30.760 --> 00:36:32.719 Yep. So they're coming out. And Uber was the largest company ranked 463 00:36:32.719 --> 00:36:36.239 by the market cap at one hundred and sixteen billion that was not in the 464 00:36:36.280 --> 00:36:39.639 s and P five hundred so far. So to qualify for s and P 465 00:36:39.760 --> 00:36:43.880 five hundred, to meet the criteria, you gotta have a certain market cap 466 00:36:43.920 --> 00:36:45.199 which is greater than fourteen and a half billion dollars, which is a lot 467 00:36:45.199 --> 00:36:50.079 smaller than I thought it'd be. The value of the market cap traded annually 468 00:36:50.719 --> 00:36:52.880 at least a quarter of the million of the shares traded in each of the 469 00:36:52.880 --> 00:36:57.599 previous six months, most of its shares in public hans and had its IPO 470 00:36:57.599 --> 00:37:00.760 at least one year earlier, so a certain criteria. So sometimes that's why 471 00:37:00.800 --> 00:37:04.079 these big companies that come out don't automatically just get into the S and P 472 00:37:04.159 --> 00:37:07.760 five hundred. But Houber's really come back. It's made a strong comeback. 473 00:37:07.360 --> 00:37:09.760 Yeah, Dean brought us something in the last segment that the hell was kind 474 00:37:09.800 --> 00:37:13.400 of interesting, and I had a little bit about that too, Dean, 475 00:37:13.480 --> 00:37:16.599 you said that talked about Boying and in twenty one, Boeing was the worst 476 00:37:16.599 --> 00:37:20.800 performing stock. In twenty two, it was one of the best. In 477 00:37:20.880 --> 00:37:24.800 twenty two the worst performing stock Salesforce dot Com, and in twenty three one 478 00:37:24.840 --> 00:37:30.960 of the best. I noticed that CBS is down thirty percent year to date 479 00:37:30.119 --> 00:37:36.519 versus a forty six percent decline for Walgreens. CVS opened three percent higher on 480 00:37:36.559 --> 00:37:39.079 Tuesday after raising guidance, jumping the dividends, but Walgreens had a little reaction. 481 00:37:39.599 --> 00:37:43.599 However, the next day, Walgreens did rally to the highest level in 482 00:37:43.639 --> 00:37:46.400 three weeks, gained ground again on Thursday to the highest level in two months, 483 00:37:46.639 --> 00:37:51.599 finished the week up eleven point four percent. The worst performing stock in 484 00:37:51.639 --> 00:37:54.519 the Dow this year, without a doubt Walgreens. And I don't know why 485 00:37:54.519 --> 00:38:00.719 I'm so infatuated with the stock other than you seldom see a doustock plunge like 486 00:38:00.800 --> 00:38:05.440 this and not come back. Full disclosure, we do not have a single 487 00:38:05.480 --> 00:38:08.519 share of Walgreens in any of our managed to counts. But it's intriguing. 488 00:38:08.719 --> 00:38:13.119 You've got an eleven percent pop off the bottom. It has a dividend. 489 00:38:13.440 --> 00:38:15.320 With the rally, the dividend has gone from nine to three quarters down to 490 00:38:15.320 --> 00:38:19.480 eight and a half. But it's an eight and a half percent dividend based 491 00:38:19.559 --> 00:38:22.360 upon earnings estimates for next year, they should be able to keep the dividend. 492 00:38:23.039 --> 00:38:25.400 And you just keep waiting for the next shoot to drop. What is 493 00:38:25.440 --> 00:38:34.199 going on here? But if twenty threes boying twenty twenty threes, salesforce dot 494 00:38:34.239 --> 00:38:37.639 com might just be Walgreens. It's tough, though, if you live in 495 00:38:37.679 --> 00:38:39.760 Tucson and you want to look at Walgreens, because all I see around town 496 00:38:39.840 --> 00:38:44.079 is is Walgreens closing. You know the shape of the building and what it 497 00:38:44.119 --> 00:38:45.559 looks like. If you lived here for a while, you've seen them and 498 00:38:45.599 --> 00:38:49.400 now they're just empty, right, Yes, is opening new ones. But 499 00:38:49.400 --> 00:38:51.840 Walgreens seems to be going out in Tucson. I don't know about that. 500 00:38:51.880 --> 00:38:55.639 Now. Walgreens was early on get me out of the difficult areas where there's 501 00:38:55.679 --> 00:39:00.599 a lot of theft. You know, Target closed down what seven eight stores 502 00:39:00.599 --> 00:39:04.920 in northern California due to that, and Walgreens was ahead of that game. 503 00:39:05.000 --> 00:39:09.400 They were a couple two or three years ago. They started closing stores where 504 00:39:09.440 --> 00:39:15.039 the theft rate was so high that it was difficult to be profitable. And 505 00:39:15.079 --> 00:39:19.360 I think that's what's what's going on there. I've not seen any of the 506 00:39:19.400 --> 00:39:22.519 Walgreens stores in good areas close down. Maybe maybe I'm missing something, but 507 00:39:24.760 --> 00:39:30.280 Tu Sound is not a good area, the whole city, the whole city. 508 00:39:30.400 --> 00:39:32.159 Hey, I just noticed I saw something on climate change. You know, 509 00:39:32.199 --> 00:39:37.039 we hear about climate change all the time. Carbon emissions may or may 510 00:39:37.079 --> 00:39:43.400 not be the problem. Dean. Get this. Since two thousand, twenty 511 00:39:43.440 --> 00:39:46.239 years twenty three years, right, Carbon emissions in the United States have dropped 512 00:39:46.239 --> 00:39:52.239 by ten percent. Carbon emissions in Europe have dropped by sixteen percent. Good 513 00:39:52.280 --> 00:39:58.400 news, right, However, China and India. In India, emissions have 514 00:39:58.559 --> 00:40:02.679 risen one hundred and sixty five percent, and in China they've doubled. In 515 00:40:02.719 --> 00:40:07.639 a period where we've cut ten percent, they've seen emissions double. And we 516 00:40:07.679 --> 00:40:12.880 talked on on this show a few months ago about China has more coal fired 517 00:40:13.119 --> 00:40:19.360 generating plants approved for construction than exist in the United States. Yeah, I 518 00:40:19.360 --> 00:40:22.119 mean the world, Indian, I know how you're gonna fight this battle all 519 00:40:22.119 --> 00:40:25.599 by yourself, But I think this is what struck me next time someone mentioned 520 00:40:25.599 --> 00:40:30.280 climate change, I think the appropriate response is, yes, those damn Chinese. 521 00:40:30.920 --> 00:40:35.079 I mean, what else can you do? I mean, you can't 522 00:40:35.079 --> 00:40:38.039 fight this alone, and you don't need to fight it alone. You've got 523 00:40:38.079 --> 00:40:42.599 to take a different tax to stop being the people that say we're gonna we're 524 00:40:42.639 --> 00:40:45.840 gonna clean everything up, but we won't do it for anyone else. Let's 525 00:40:45.840 --> 00:40:49.840 come with the compromise where everybody, whatever you're doing, you're telling me today's 526 00:40:49.880 --> 00:40:53.239 technology, you can have much cleaner coal fired plants. Of course you can, 527 00:40:53.920 --> 00:40:59.920 or nuclear if we just stopped scared of that word. You know, 528 00:41:00.360 --> 00:41:04.119 we know that's a superior energy source that we just for some reason don't want 529 00:41:04.119 --> 00:41:07.840 to get behind. Yeah, it is. It is interesting because there are 530 00:41:07.880 --> 00:41:12.280 countries in the world whose main power source is nuclear and then they're just fine, 531 00:41:12.559 --> 00:41:15.639 Yep, we just can't seem to get our hands around it. For 532 00:41:15.679 --> 00:41:19.840 whatever reason. Bernstein came out. They said, your best long idea, 533 00:41:19.880 --> 00:41:24.239 the best stock to buy in twenty twenty four is Amazon, and the best 534 00:41:24.239 --> 00:41:30.400 doctor short is Tesla. The price target I wouldn't show with Tesla. Yeah, 535 00:41:30.400 --> 00:41:31.840 but I mean, even if it goes down, I wouldn't show a 536 00:41:31.880 --> 00:41:37.199 Tesla because, let's face the guys, there's some reas. It's like a 537 00:41:37.239 --> 00:41:39.840 cult. Somehow, some way that stock always seems to be rise up from 538 00:41:39.840 --> 00:41:43.320 the ashes. It does. It does. It is one of the only 539 00:41:43.360 --> 00:41:46.079 profitable TV companies. Yeah, and it's the only even with the ones the 540 00:41:46.239 --> 00:41:51.119 traditional car companies, they're losing a ton of money on evs. They're sectors, 541 00:41:51.320 --> 00:41:53.920 so that's why it's always coming back. And you have the added extra 542 00:41:53.960 --> 00:41:58.400 bonus of the chargers, which is really what's bringing them a lot of income. 543 00:41:58.480 --> 00:42:01.400 There will be a time though, Okay, and Dave can relate to 544 00:42:01.440 --> 00:42:05.679 this at the major company, like you said, you'll go in well, 545 00:42:05.800 --> 00:42:10.000 like if you're going to buy three companies today, the biggest companies, which 546 00:42:10.000 --> 00:42:14.719 ones would they be? Apple? Amazon? Microsoft? Right? Apple, 547 00:42:14.840 --> 00:42:17.159 Amazon, and videos up there too. But no, but those three okay, 548 00:42:17.800 --> 00:42:21.480 you got to use them. We all use them. It's all part 549 00:42:21.519 --> 00:42:25.360 of our lives. That's it. One day they're going to be just like 550 00:42:25.440 --> 00:42:30.679 IBM, Cisco and Intel. You get so big, okay, making so 551 00:42:30.840 --> 00:42:34.880 much money, but no growth, right, it's part of the cycle. 552 00:42:35.280 --> 00:42:37.800 Yes, this is part of the cycle. And IBM's at the end of 553 00:42:37.840 --> 00:42:39.760 their cycle and that's why they're not at growth anymore. Back in the nineties 554 00:42:39.800 --> 00:42:45.400 they were a huge growth just like well, the real risk to an Apple 555 00:42:45.519 --> 00:42:51.079 is what happened to Intel, right, because the technological revolution, Intel was 556 00:42:51.239 --> 00:42:53.400 on the front cusp of it and they benefited a lot from it, and 557 00:42:53.440 --> 00:42:58.679 then they really kind of just didn't do anything for a long time. And 558 00:42:58.719 --> 00:43:00.920 the reason being is they weren't up to date with the new technology that was 559 00:43:00.960 --> 00:43:05.519 bringing the world forward. So it's it's not just that you know, Apple 560 00:43:05.559 --> 00:43:09.079 has to They can continue to grow as long as they adapt and change as 561 00:43:09.119 --> 00:43:12.599 the years go on. It's gonna be come. But you have done this. 562 00:43:12.840 --> 00:43:15.039 Yeah, but remember it, sock. You would always buy nothing else. 563 00:43:15.159 --> 00:43:19.599 What's the best sack to buy? IBM, IBM, IBM, IBM. 564 00:43:19.840 --> 00:43:22.159 But that's not this I'm saying. What I'm trying to say is and 565 00:43:22.199 --> 00:43:24.199 they're not in the same revolution. I'm thinking, okay, yeah, but 566 00:43:24.239 --> 00:43:28.679 then what I'm saying is what you're saying about Apple is what we said about 567 00:43:28.679 --> 00:43:30.519 IBM. I was in this business in the nineteen eighties and there was a 568 00:43:30.519 --> 00:43:35.639 client who sat at my desk and Apple had just come out, and he 569 00:43:35.719 --> 00:43:39.000 said, you know that that symbol Apple would the the bite out of it. 570 00:43:39.119 --> 00:43:43.559 He goes, IBM is going to eat the whole Apple, so that 571 00:43:43.599 --> 00:43:46.360 will not out of business, right mindset? Yeah, yeah, that was 572 00:43:46.400 --> 00:43:50.119 the mindset. Yeah, yes, you never know. But I mean also, 573 00:43:50.159 --> 00:43:52.920 there's gonna be companies that come out of nowhere. Like the dot com 574 00:43:52.920 --> 00:43:55.480 bubble, you had companies that made it through it and exploded, like Amazon 575 00:43:55.519 --> 00:43:59.079 kind of came out around there. Google came out around then with the ip 576 00:43:59.239 --> 00:44:02.880 O. You have companies that come IPO around now that are doing AI stuff, 577 00:44:02.960 --> 00:44:05.960 and that are companies that you're not gonna know now, but twenty years 578 00:44:06.000 --> 00:44:07.639 from now you're gonna say, dang, I wish I got it back then, 579 00:44:07.679 --> 00:44:12.199 because but it's unknown companies. But it's the AI revolution that's going to 580 00:44:12.239 --> 00:44:14.599 be happening in twenty years I think, right, And you don't have to 581 00:44:14.639 --> 00:44:17.719 catch it in the in the infant stage. You got to catch it in 582 00:44:17.800 --> 00:44:22.880 their like elementary stage and teenage stage before they become adults. We've been a 583 00:44:22.880 --> 00:44:28.639 client today or on Friday that was talking about they own Applestock. But when 584 00:44:29.320 --> 00:44:32.599 Steve Jobs died, her husband convinced her to sell it, and she was 585 00:44:32.679 --> 00:44:37.119 like, okay, okay. At twenty dollars a share, that's where her 586 00:44:37.199 --> 00:44:39.159 unicost was. They sold it. She made some money, she said, 587 00:44:39.159 --> 00:44:44.400 but obviously that was eight years ago. A lot different if you just held 588 00:44:44.440 --> 00:44:46.320 it and that was like a gross stage. You didn't know because when Steve 589 00:44:46.440 --> 00:44:49.360 Job's that you didn't know what was going to happen. But it was in 590 00:44:49.400 --> 00:44:52.280 a gross stage that was kind of in a sense elementary from what they've done. 591 00:44:52.320 --> 00:44:54.199 Now. Well, that's my point. You'll have an opportunity. You 592 00:44:54.199 --> 00:44:58.519 don't have to go with all these newsletters and all these things that are out 593 00:44:58.519 --> 00:45:01.119 they try to find that stock that's three four dollars out there that's going to 594 00:45:01.159 --> 00:45:05.719 be the next Amazon or the next Apple, or the next thing. Let 595 00:45:05.719 --> 00:45:09.880 them mature, let them become something. You had many opportunities to buy Apple 596 00:45:10.079 --> 00:45:14.880 over the last ten years that would have made you tons of money. I 597 00:45:15.119 --> 00:45:20.239 do think there are things with the Apple product, the iPhone. It takes 598 00:45:20.280 --> 00:45:23.360 so many products that used to be traded companies and are no longer. For 599 00:45:23.400 --> 00:45:27.639 example, your camera that you used to buy the company used to make them, 600 00:45:27.719 --> 00:45:32.119 Like what are they the camera company? Or no Kia, no, 601 00:45:32.119 --> 00:45:37.400 no Kia, whatever the idea is. You have calculators. A company used 602 00:45:37.400 --> 00:45:40.239 to make calculators they don't know and buys Kodak exactly. That was what was 603 00:45:40.320 --> 00:45:45.079 Kodak. So your your camera is now in your iPhone. Apple took that 604 00:45:45.119 --> 00:45:50.159 market share away from Kodak. The calculator. Apple took the trans They are 605 00:45:50.199 --> 00:45:52.039 coming up with more and more. They just came out with this translate product. 606 00:45:52.400 --> 00:45:55.840 Anyone who has a translate product, your company's done because it's now an 607 00:45:55.840 --> 00:46:02.199 Apple. They are constantly involving more and more products. Their portfolio of products 608 00:46:02.480 --> 00:46:07.599 is so much more vast than the old people. I mean Google, They're 609 00:46:07.639 --> 00:46:09.559 making cars, they're making phones, they're making the search engine. They have 610 00:46:09.639 --> 00:46:13.840 YouTube much saying the Apples, you're going anywhere in the next five, ten, 611 00:46:14.000 --> 00:46:19.719 fifteen years. It took IBM what the Dave eighties, nineties, two 612 00:46:19.760 --> 00:46:23.880 thousand and one, two thousand and eight, probably fifteen, about fifteen years 613 00:46:23.880 --> 00:46:29.199 ago. So yeah, but okay, on Todd's On Todd's point, Apple's 614 00:46:29.239 --> 00:46:32.239 coming out with watches, with cars, with virtual reality. They're getting into 615 00:46:32.280 --> 00:46:36.360 everything that's going forward. So that's how they're expanding. That's how they're able 616 00:46:36.400 --> 00:46:38.400 to keep up with this growth and state the largest company for the fifth year 617 00:46:38.400 --> 00:46:42.519 in a row because they're evolving with it. IBM didn't do that, Yeah, 618 00:46:42.519 --> 00:46:44.519 and they also have what they did and they kept doing what they did, 619 00:46:44.559 --> 00:46:46.760 and that's what Intel did too. In the sense of I'm much saying 620 00:46:46.800 --> 00:46:50.840 Apple's going away, IBM didn't go away. What I'm saying it becomes a 621 00:46:50.920 --> 00:46:54.679 time that the growth there and IBM doesn't grow as much as the video grew 622 00:46:54.719 --> 00:46:59.920 today. And I think that's because IBM did not make the specific investment they 623 00:46:59.880 --> 00:47:01.679 should have twenty years ago and they had plenty of money to do same, 624 00:47:01.719 --> 00:47:06.519 where with Intel, things change. You'll see. We're just saying if you 625 00:47:06.559 --> 00:47:10.159 evolve like Apples, continuing just that's fine. I get it, guys. 626 00:47:10.480 --> 00:47:15.679 All I'm trying to give you is some wisdom from Dave and I that things 627 00:47:15.039 --> 00:47:20.760 in fifteen twenty twenty five years are different than so that what you're looking at 628 00:47:20.840 --> 00:47:23.280 today. And if you can get on board with the AI companies that get 629 00:47:23.320 --> 00:47:29.840 into the teenage type years of their growth and ride that through their maturity into 630 00:47:29.880 --> 00:47:34.039 their old age, that's fine. Video there's still listen. I still think 631 00:47:34.079 --> 00:47:37.760 Apples a young adult. I think Microsoft's an an older adult. That's how 632 00:47:37.800 --> 00:47:39.480 I look at it. We'll be back to the Money Batter Show. It's 633 00:47:39.519 --> 00:47:45.880 the old guys teaching the young guys that everything isn't the same all the time. 634 00:47:45.079 --> 00:47:57.599 We'll be right back. Say it's only name. Welcome back. You 635 00:47:57.679 --> 00:48:00.400 listen to the second hour of the Money Matter Show. I'm doing Greenberg. 636 00:48:00.400 --> 00:48:04.079 I'm here with Dean Greenberg. They sure what and Todd Glick. Pretty flat 637 00:48:04.119 --> 00:48:07.559 week, but it was a six week positive in a row. The Dow 638 00:48:07.679 --> 00:48:09.559 was actually flat. The sm P five hundred was up point two percent, 639 00:48:09.800 --> 00:48:12.840 and to clarify, that was the six week in a row for the SMP 640 00:48:13.159 --> 00:48:15.000 to be up. The NAZAK was up point seven percent, the Rustle of 641 00:48:15.000 --> 00:48:19.119 two thousand was up one percent, and the RSP, the equal weight to 642 00:48:19.239 --> 00:48:22.039 SMP, was up point one percent. The Dow was up three points For 643 00:48:22.039 --> 00:48:27.039 the week, SMP was up ten points and the NAZAK was up ninety nine, 644 00:48:27.239 --> 00:48:30.039 So nothing really happened, But I mean it was at least in the 645 00:48:30.079 --> 00:48:32.000 right direction. If we say about forty six hundred, we could be looking 646 00:48:32.000 --> 00:48:37.920 at about forty six seventy five forty six forty seven hundred. Let's put it 647 00:48:37.960 --> 00:48:40.679 that way technically now. Analyst on CNBC on Friday they said forty seven to 648 00:48:40.679 --> 00:48:45.880 fifty yere end. If Powell says what we want him to say, Yeah, 649 00:48:45.920 --> 00:48:47.159 well, I can't see how that won't be the case. But if 650 00:48:47.159 --> 00:48:52.039 how but Powell says, we're wasting weights outer than mine, whether yeah, 651 00:48:52.119 --> 00:48:55.800 bomboom, you're going to see a thirty forty five hundred pretty quickly. That 652 00:48:55.840 --> 00:48:59.719 would not be a good thing. Probably forty four fifty Yep, yeah, 653 00:48:59.760 --> 00:49:01.119 that not be a good thing. You want a fun fact, sure, 654 00:49:01.159 --> 00:49:04.679 I've talked about fun fashion. You better have a fun I do with that. 655 00:49:04.880 --> 00:49:07.039 Enough fun, war fun, This is fun, okay? You know. 656 00:49:07.079 --> 00:49:12.320 Warren Buffett has lived in the same house in Omaha, Nebraska for sixty 657 00:49:12.440 --> 00:49:15.400 five years, one of the wealthiest men on the planet. Same house. 658 00:49:15.719 --> 00:49:20.039 He paid thirty five hundred dollars for try the same cart sixty five years ago. 659 00:49:20.440 --> 00:49:23.039 Is recently what's it worth now? I don't know. He's probably made 660 00:49:23.079 --> 00:49:28.400 some improvements. You think maybe he probably put a new floor down. It's 661 00:49:28.440 --> 00:49:30.840 crazy, Okay, so thirty five hundred is probably worth three fifty now. 662 00:49:31.320 --> 00:49:35.039 Yeah, you can't even imagine. Oh, it's a six thousand square foot 663 00:49:35.039 --> 00:49:37.400 house. Oh is it? Or four thousand? Yeah, but it's in 664 00:49:37.639 --> 00:49:43.199 it's in Nebraska, Omaha, I guess would be seven hundred thousand is recently. 665 00:49:43.280 --> 00:49:47.679 Deceased partner Charlie Munger lived in the same house in California for seventy years, 666 00:49:49.559 --> 00:49:52.039 which is kind of funny though, because you have a left Yeah. 667 00:49:52.119 --> 00:49:53.599 Yeah, but they own they both don't, you know, have an ownership 668 00:49:53.599 --> 00:49:58.320 in Berkshire Hathaway that owns properties. So like, yeah, they live in 669 00:49:58.360 --> 00:50:02.599 their own but they have a pretty big portfolio properties. It's ironic as when 670 00:50:02.599 --> 00:50:06.719 I'm saying he died at ninety nine, which means the home he bought when 671 00:50:06.719 --> 00:50:09.079 he was twenty nine. Yeah, he still lived in right and it died. 672 00:50:09.400 --> 00:50:12.880 Yeah. It's just mind bogging, isn't it. Yeah. They don't 673 00:50:12.880 --> 00:50:15.400 do it for themselves, but they'll do it for business. Crazy. He 674 00:50:15.679 --> 00:50:21.000 well, it's crazy, is they were the wealthiest people that leave led the 675 00:50:21.119 --> 00:50:23.679 cheapest life. I mean, I mean, I'm sure they gave money to 676 00:50:23.679 --> 00:50:28.440 people and did things okay, you know, charities and stuff, but they 677 00:50:28.480 --> 00:50:34.440 never enjoyed life with it. Well, I don't know about that. Coming 678 00:50:34.519 --> 00:50:37.480 They were value investors. I think Dean's right here. When you have a 679 00:50:37.559 --> 00:50:42.119 value, everything is based on value, and everybody, everybody makes value. 680 00:50:42.360 --> 00:50:47.920 Everybody's opinion of what enjoying life is is different. Point and you have nowhere 681 00:50:47.920 --> 00:50:52.599 near the money that won buffer that lived more than three houses at the end 682 00:50:52.599 --> 00:50:58.599 of the day. Okay, being cheap, you think it's being frugal and 683 00:50:58.599 --> 00:51:01.320 stuff. Not realizing, guys, you do things and buy things or build 684 00:51:01.360 --> 00:51:06.599 things, you're also creating jobs for people. Yeah, well then they I 685 00:51:06.639 --> 00:51:07.760 think they've created a lot of jobs for people, and they own a lot 686 00:51:07.800 --> 00:51:12.960 of companies they've started and create those jobs. They didn't create those jobs. 687 00:51:13.199 --> 00:51:15.280 They bought those companies to make money, period. They didn't create jobs. 688 00:51:15.519 --> 00:51:20.280 In fact, it probably laid people off and create jobs for Apple, he's 689 00:51:20.360 --> 00:51:22.960 bought a lot of Apple stock. That that's true. That's true there. 690 00:51:22.000 --> 00:51:27.480 But ivery think some of the things they did, they did Who created that? 691 00:51:27.800 --> 00:51:30.719 Berkshire built that? They built that one, but I no like talking 692 00:51:30.719 --> 00:51:34.400 about that. Warren Buffett is given away ninetynine percent of his wealth when he 693 00:51:34.440 --> 00:51:38.480 passes away out of Charlie Munger decided to do him and what gates and they 694 00:51:38.559 --> 00:51:42.559 want to get all that is given away ninety nine of it. They have 695 00:51:42.599 --> 00:51:45.599 interesting personal life. Charlie Munger I think had nine kids and two or three 696 00:51:45.599 --> 00:51:51.599 wives. Warren Buffett's wife has lived in California for fifty years. Obviously fifty 697 00:51:51.800 --> 00:51:54.360 Charlie Munger's value. They have not lived together. She has lived together in 698 00:51:54.480 --> 00:51:58.079 decades and I know that. So then you can say that's why he has 699 00:51:58.199 --> 00:52:00.599 no money to spend, because she was spending it. All that could be. 700 00:52:00.800 --> 00:52:02.360 Yeah, we don't. We don't know how she lives, right, 701 00:52:02.440 --> 00:52:07.000 We don't know how Seriously, I mean, I know everyone praises him. 702 00:52:07.280 --> 00:52:09.840 That's not the style I wanted. And what kind of relationship it does? 703 00:52:09.880 --> 00:52:13.519 What kind of life is that? Your wife is here, you're here, 704 00:52:13.760 --> 00:52:15.360 we are your kids. You never see anything about his kids? Unusual? 705 00:52:15.440 --> 00:52:19.280 You know what I mean? There's more to life than just all that money. 706 00:52:19.760 --> 00:52:22.239 Believe me. It's like everyone that wins a lot of me. Not 707 00:52:22.320 --> 00:52:24.880 everyone, but a lot of people that win the lot of me destroys the 708 00:52:25.000 --> 00:52:28.719 lot. But you see that with greatness across the board. I mean with 709 00:52:28.760 --> 00:52:31.039 Michael Jordan. He was not good at a lot of other personal things, 710 00:52:31.320 --> 00:52:35.480 right, but he was the best basketball player of all time. He's also 711 00:52:35.519 --> 00:52:38.400 a great business person, a terrible gambler, a degenerate. It's not terrible. 712 00:52:38.480 --> 00:52:43.280 He lost a lot. Why is he terrible? You know the stories. 713 00:52:43.360 --> 00:52:47.119 He was worth billions. He's never loses. Him and Barkley don't lose 714 00:52:47.119 --> 00:52:52.119 more than they can afford. It's it's fun to them. Gambling one hundred 715 00:52:52.159 --> 00:52:54.360 thousand on the golf course is a lot different to Michael Jordan than like a 716 00:52:54.400 --> 00:52:59.079 normal like me. Okay, you can just watch thirty for thirties about Jordan's 717 00:52:59.159 --> 00:53:04.320 gambling. It pretty impressive, So don't get me stay point. The point 718 00:53:04.400 --> 00:53:07.440 is greatness takes all of your attention and meaning. If you want to be 719 00:53:07.519 --> 00:53:10.920 the best at something, you really got to put everything towards just that, 720 00:53:10.960 --> 00:53:15.840 and you're not going to spend time on other things in life like personal at 721 00:53:15.920 --> 00:53:19.480 hornets for four billion dollars, it's basketball. Yeah, just like he was 722 00:53:19.519 --> 00:53:22.400 great at playing, but he was running the team. He's a great businessman, 723 00:53:22.800 --> 00:53:27.679 he's a multi billionaire. Don't tell me what it wasn't great at what 724 00:53:28.199 --> 00:53:32.360 he did, not everything, because you you're never going to be great at 725 00:53:32.360 --> 00:53:37.360 anything if you're going to be great because you saying That's what my point was. 726 00:53:37.679 --> 00:53:38.880 All right, So here's another fun fact. We need to keep moving. 727 00:53:39.880 --> 00:53:43.239 Let me give you another fun fact. Maybe take your mind off this 728 00:53:43.360 --> 00:53:51.679 this hate. There are two really good buddies. Haven't added last day of 729 00:53:51.679 --> 00:53:55.239 this year? Pretty special? What's the last day of two three? Very 730 00:53:55.239 --> 00:53:58.800 good dying? One two three, one two three? How can they? 731 00:53:58.840 --> 00:54:01.039 How can they're not in well? When the last days one two three, 732 00:54:01.039 --> 00:54:07.800 one two three? We got to put on Michael Jackson three No, no, 733 00:54:07.039 --> 00:54:10.480 mikel Jackson. You know ABC, it's easiest one and two three. 734 00:54:10.880 --> 00:54:19.000 That's that's the new one. He's got to write this down, Yeah, 735 00:54:19.039 --> 00:54:21.360 one two three, one two three. If you want to stray down, 736 00:54:22.079 --> 00:54:24.920 there you go. One two three, one two three there you gos. 737 00:54:24.960 --> 00:54:30.519 And going back to companies and big companies that continue to you're all in a 738 00:54:30.559 --> 00:54:32.079 different way. It was a fun fact. But going back to companies that 739 00:54:32.079 --> 00:54:36.599 we're talking about, continue to grow with the new things coming out. Google 740 00:54:36.719 --> 00:54:40.639 just released Gemini, which is their most capable AI model to compete with chat 741 00:54:40.719 --> 00:54:45.480 GPT, which is owned by Microsoft for the most part. It'll include three 742 00:54:45.480 --> 00:54:49.599 different sizes, Gemini Ultra, Gemini Pro, and Gemini Nano. Gemini Ultra 743 00:54:50.000 --> 00:54:52.760 is their largest, most capable category and the other ones just offer a little 744 00:54:52.840 --> 00:54:58.480 less aspects to it. But Google is playing the licensed Gemini to customers through 745 00:54:58.519 --> 00:55:00.519 Google Cloud for them to use and their own applications. Gem and I will 746 00:55:00.559 --> 00:55:07.559 also be used to power which tries to answer these search queries with controversial conversational 747 00:55:07.559 --> 00:55:10.199 style text. So you're gonna be able to use it like on your phone 748 00:55:10.320 --> 00:55:13.840 on your computer, but you're going to be in a sense like lease it 749 00:55:13.880 --> 00:55:15.719 out, and that's how they're going to monetize it. Kramer's was out in 750 00:55:15.800 --> 00:55:20.519 the Silicon Valley this past week Jim Kramer, and he came back in his 751 00:55:20.559 --> 00:55:25.360 take was that the company that is monetizing AI the best right now is Microsoft. 752 00:55:27.840 --> 00:55:29.679 Well, they're ahead of it the game. Yeah, but this is 753 00:55:29.719 --> 00:55:35.039 Google's competition to it to Chat GPT. Have you guys been watching what's going 754 00:55:35.039 --> 00:55:38.320 on with Tesla over in Sweden? No, they're they're they're they're trying to 755 00:55:38.599 --> 00:55:43.480 they're trying to unionize, right, They're workers in Sweden are trying to unionize, 756 00:55:43.760 --> 00:55:49.079 and they've now garnered support from the postal workers who refuse to deliver license 757 00:55:49.119 --> 00:55:57.599 plates, and last week the DOC workers refusing to unload Tesla cars. They've 758 00:55:57.639 --> 00:56:04.079 got about sixty percent sixty percent because the Tesla workers want to unionize and Tesla's 759 00:56:04.119 --> 00:56:07.800 fighting them, and the postal service now won't deliver license plates. The dock 760 00:56:07.880 --> 00:56:12.599 workers won't unload the Tesla cars because sixty percent of blue color workers in Sweden 761 00:56:12.920 --> 00:56:16.840 are union So they're all getting a Muscus sued, of course, but little 762 00:56:16.880 --> 00:56:21.119 impact on the stock. You know, thirty two percent of all new cars 763 00:56:21.119 --> 00:56:25.239 sales in Sweden are electric versus nine here. Norway is number one. I 764 00:56:25.280 --> 00:56:29.639 didn't know this. Norway is number one. Eighty percent of all new car 765 00:56:29.719 --> 00:56:32.679 sales in Norway are electric. And I had a friend of mine from Europe 766 00:56:32.920 --> 00:56:37.760 who was visiting, and he said, you guys are so far behind in 767 00:56:37.800 --> 00:56:40.920 this whole electric thing. Could you know what? Norway also probably has good 768 00:56:42.039 --> 00:56:45.760 energy grid? Yeah, probably, they probably have some nuclear power plants. 769 00:56:45.960 --> 00:56:49.480 Also, they probably do people which is the size of Phoenix. Yeah, 770 00:56:49.559 --> 00:56:52.559 okay, so it's a lot easier to do that. That's the reason eighty 771 00:56:52.559 --> 00:56:55.480 percent of the people want electric cars because they're small, not like the car 772 00:56:55.519 --> 00:56:58.840 grid and stuff. So it's easier to say eighty percent of it. I 773 00:56:58.840 --> 00:57:00.079 mean, well, the whole car, the whole EU. It has been 774 00:57:00.079 --> 00:57:04.400 ahead of the Yeah, I was surprised at that, but that because it 775 00:57:04.440 --> 00:57:06.800 seems like it always feel wh would you be surprised at that, because it 776 00:57:06.800 --> 00:57:08.960 feels like as Americans, we always feel like we're cutting edge on everything. 777 00:57:09.039 --> 00:57:13.960 Right. Oh, no, they're real big on regulation. We have think 778 00:57:14.000 --> 00:57:16.360 about how vast the country is. Like Dylan said, if you have a 779 00:57:16.400 --> 00:57:21.199 country the size of Phoenix, you can put in a power good there over 780 00:57:21.239 --> 00:57:24.639 the ten years that that will fill suit everybody. The power good here is 781 00:57:24.679 --> 00:57:28.320 four times what it was twenty years ago. No, I'm just saying it's 782 00:57:28.320 --> 00:57:31.000 four times the size of was twenty year to build that infrastructure quicker in a 783 00:57:31.760 --> 00:57:36.760 country full of Phoenix size in the sense of population. But regardless of what 784 00:57:36.840 --> 00:57:38.880 kind of power grid you have, you also have to have people who are 785 00:57:39.000 --> 00:57:44.000 wanting to buy it. Like a car, we only have about forty percent 786 00:57:44.039 --> 00:57:46.000 here, if I'm not mistaken, how many are in Phoenix or how many 787 00:57:46.000 --> 00:57:50.280 are in LA. How many cars are in LA compared to Norway? About 788 00:57:50.280 --> 00:57:55.320 twenty five percent of LA is and we're talking that's a huge mark. Right. 789 00:57:55.320 --> 00:57:58.760 But if they go to the card deal is a socialist country, they 790 00:57:58.760 --> 00:58:00.079 go and say, I want to eat. That's what we're going to do. 791 00:58:00.280 --> 00:58:04.559 Maybe they're maybe they're getting a better incentives or something. I mean, 792 00:58:04.559 --> 00:58:07.440 you can't force people to buy a certain of car. No, we're not. 793 00:58:07.760 --> 00:58:10.599 We're making them available. We're not. We are trying to make people 794 00:58:10.639 --> 00:58:14.679 by eave. It's by saying we're going to be done with gas cars by 795 00:58:14.679 --> 00:58:19.400 two thousand. Well, Blues States, those eleven Blues Days Michigan just said 796 00:58:19.400 --> 00:58:22.239 that twenty thirty they're done with gas power cars. Is that insane or what? 797 00:58:22.000 --> 00:58:25.000 When they have FOURD there, it's just nuts, It's just nuts. 798 00:58:25.039 --> 00:58:30.000 I mean, that can't possibly happen. Yeah, Well, we've talked about 799 00:58:30.000 --> 00:58:32.440 on the show. The energy grid is very important for EV's to make sense, 800 00:58:32.719 --> 00:58:37.519 or otherwise you're just substituting one problem for another. Well, and then 801 00:58:37.559 --> 00:58:40.639 the other thing that when you talk about EV's is most of the charging is 802 00:58:40.679 --> 00:58:45.000 done overnight when the grid isn't being used. So it really isn't that big 803 00:58:45.039 --> 00:58:50.440 a deal. Yeah. Yeah, again, though it's really the carbon issue 804 00:58:50.599 --> 00:58:53.719 to begin with to create the car in the first place, assuming you're buying 805 00:58:53.719 --> 00:58:57.800 the car to save the world. If you're buying the car, isn't that 806 00:58:57.840 --> 00:59:00.719 the purpose of EV's. No, the purpose of evs have the greatest time 807 00:59:00.719 --> 00:59:04.719 in your life for you. It's not the reason they're putting these regulations in 808 00:59:04.760 --> 00:59:07.119 place. No. I mean, and that that'll come with time. That'll 809 00:59:07.119 --> 00:59:09.440 come with time. It's just a matter of getting it perfected. Yeah. 810 00:59:09.480 --> 00:59:16.079 I think you can make twenty hybrid batteries for one EV. But that battery 811 00:59:16.199 --> 00:59:19.920 it takes for all the lithium. Yeah, drost finger, and I hope 812 00:59:19.920 --> 00:59:22.679 they don't catch fire in your garage. No, the plug ins, the 813 00:59:22.719 --> 00:59:25.199 plug in hybrids. No, actually, twenty twenty to twenty twenty three, 814 00:59:25.199 --> 00:59:28.599 so I don't think they had pluggin in twenty twenty, did they? I 815 00:59:28.599 --> 00:59:30.960 don't know, pretty sure, I actually don't know. I've got a really 816 00:59:30.039 --> 00:59:34.880 interesting TV garage. But Sebastian here first. Hello, Hi buddy, Hey, 817 00:59:35.880 --> 00:59:37.920 let's have it. So we got a couple questions in if you guys 818 00:59:37.920 --> 00:59:42.199 need If you have any questions since you wanted to answered here on the Money 819 00:59:42.199 --> 00:59:47.159 Matter Show, you could email us at contact that's green Contact Greenberg Financial dot 820 00:59:47.159 --> 00:59:52.719 com. Right, I'm sorry, contact at Greenberg Financial dot com. Yes, 821 00:59:52.840 --> 00:59:54.880 right, correct? All right? The first question, can you write 822 00:59:54.880 --> 00:59:58.039 that down? I was writing stuff down for Dean, tried to write it 823 00:59:58.039 --> 01:00:00.960 down. I'm gonna write it down next week. All right, Okay, 824 01:00:00.960 --> 01:00:05.519 go ahead. This question comes in from Curtis. Uh. Bitcoin has had 825 01:00:05.519 --> 01:00:07.400 a significant run up lately. Why do you think this? Is Todd? 826 01:00:07.400 --> 01:00:12.000 What do you think? Bud we all default the Todd? Yeah, well 827 01:00:12.039 --> 01:00:15.400 he's the bitcoin boy is Yeah. I mean digital asset inflows total one hundred 828 01:00:15.400 --> 01:00:19.639 and seventy six million dollars last week, that reached that's now reaching a ten 829 01:00:19.679 --> 01:00:22.400 week total of one point seven to six billion. That's the highest since October 830 01:00:22.400 --> 01:00:27.519 twenty one. So obviously that's the reason a lot of funds are getting flowed 831 01:00:27.519 --> 01:00:30.559 in. Why are the funds getting flowed in? It's because of the potential 832 01:00:30.559 --> 01:00:35.199 spot ETF that is getting approved for black Rock by the SEC. If that 833 01:00:35.320 --> 01:00:37.679 happens, this is gonna go run even more, and a lot of these 834 01:00:37.679 --> 01:00:42.400 people are expecting that to happen, and that's why they're pricing the bitcoin price 835 01:00:42.480 --> 01:00:45.199 higher. On top of that, you have a really bullish set up for 836 01:00:45.360 --> 01:00:49.639 twenty twenty four because that's when the happening of the bitcoin mining reward happens. 837 01:00:50.440 --> 01:00:52.119 For people who don't know what happening means, it means the reward that's currently 838 01:00:52.159 --> 01:00:57.119 six point one twenty five for solving a bitcoin block will be cut in half 839 01:00:57.320 --> 01:01:04.519 to about three points something that is bitcoin's monetary policy, which helps reduce supply, 840 01:01:04.719 --> 01:01:08.840 which then helps increase price. In theory, that's everyone's kind of bullish 841 01:01:08.960 --> 01:01:13.760 set up for twenty twenty four of the happening, as well as more inflows 842 01:01:13.760 --> 01:01:17.519 from institutional investors by this spot ETF and I think there's also a big fomo 843 01:01:17.639 --> 01:01:21.679 going on, you know, the fear is actually not and that was very 844 01:01:21.679 --> 01:01:25.599 surprised by that because I saw a chart on bitcoin interest. Unlike past bitcoin 845 01:01:25.639 --> 01:01:30.000 runs, at least so far, there's no real sign of major public fomo. 846 01:01:30.199 --> 01:01:34.760 What turns bitcoin interest though, like, how are you monetizing that? 847 01:01:35.199 --> 01:01:39.519 So the amount of people that have bitcoin related securities holdings. So an article 848 01:01:39.599 --> 01:01:45.920 not too long ago the twelve percent of the public trust bitcoin twelve percent, 849 01:01:46.400 --> 01:01:50.559 just a slightly above the number of eds. I wonder, I wonder, 850 01:01:50.679 --> 01:01:55.199 what's the public percentage that trusts the government? Zero? Okay, so bitcoin's 851 01:01:55.199 --> 01:01:59.840 winning then. So the whole idea is that, you know, if you're 852 01:01:59.880 --> 01:02:02.159 not gonna have you don't have fomo. Yeah, it's just very surprising to 853 01:02:02.239 --> 01:02:07.480 me. So you just have to expect a consolidation at some point bitcoins price. 854 01:02:07.559 --> 01:02:12.280 It's just it just looks so good on the chart that I don't see 855 01:02:12.280 --> 01:02:14.719 it, but it has to. Nothing goes up straight to the to the 856 01:02:14.960 --> 01:02:17.760 just keeps going. All right, Ryan, This one comes in from Ryan. 857 01:02:17.920 --> 01:02:22.599 Is there is there an advantage of giving an asset instead of giving cash 858 01:02:22.320 --> 01:02:27.079 gift? It's kind of a loaded question. Yeah, well it depends. 859 01:02:27.159 --> 01:02:32.559 I mean there the advantage really is to the giver. The advantage is not 860 01:02:32.719 --> 01:02:37.280 to the receiver. It like if the if the receiver is receiving an asset, 861 01:02:37.360 --> 01:02:43.039 they're receiving the cost basis of the giver. Yeah, it's like the 862 01:02:43.239 --> 01:02:45.800 gift would come in, I made you my beneficiary from IRA, so you 863 01:02:45.800 --> 01:02:50.119 get that step up basis when they passed away, not the IRA. Iras 864 01:02:50.119 --> 01:02:51.840 don't have to step up. No, No, I'm sorry, Yeah, 865 01:02:52.119 --> 01:02:55.440 trust Trust brokeray account. But but that's so, I say, you give 866 01:02:57.239 --> 01:03:00.960 one hundred years of Apple at one hundred and ninety dollars right cost basis is 867 01:03:00.000 --> 01:03:06.639 twenty, you got a seventeen thousand dollars capital game that you've just inherited. 868 01:03:06.840 --> 01:03:08.840 Yeah, here, here, I have this because I don't want it. 869 01:03:09.159 --> 01:03:15.519 So cash certainly is a much better thing to receive than a gift of securities. 870 01:03:15.480 --> 01:03:19.480 Right, that makes sense. If you have any stubborn family members, 871 01:03:19.519 --> 01:03:22.679 just gift them your capital gains, I guess, exactly, exactly. So 872 01:03:22.719 --> 01:03:28.679 we talked on this show about how Europe and the UK they're going to be 873 01:03:28.679 --> 01:03:32.280 cutting rates a lot faster than the US, and that's because of their economic 874 01:03:32.360 --> 01:03:37.559 activity. Their GDP is just almost negative. I mean, I think actually 875 01:03:39.800 --> 01:03:45.639 the Eurozone contracted this last quarter by just barely point one percent. They expect 876 01:03:45.639 --> 01:03:49.239 them to also contract in the fourth quarter. That technically signals a recession. 877 01:03:49.719 --> 01:03:52.800 Also in the UK, their GDP is next to zero. So from the 878 01:03:52.840 --> 01:03:55.679 central banks point of view, in both of those regions, they're going to 879 01:03:55.719 --> 01:03:59.480 say, hey, this is time where we should start cutting rates to help 880 01:03:59.519 --> 01:04:02.719 promp up their economy. That's going to be a kind of a read through. 881 01:04:02.760 --> 01:04:05.800 I think for the US. I agree, I agree, you're a 882 01:04:05.840 --> 01:04:09.760 temp for a trip to the EV garage. Let's go kind of interesting. 883 01:04:10.239 --> 01:04:15.239 Interesting report this week, Consumer Reports recently issued a new report that show's electric 884 01:04:15.519 --> 01:04:21.440 vehicle owners are reporting far more problems with their vehicles than owners of conventional cars 885 01:04:21.480 --> 01:04:28.239 or hybrids. A survey of three hundred and thirty thousand vehicle owners showed that 886 01:04:28.320 --> 01:04:33.760 EV owners are reporting nearly double the problems of internal combustion cars, while hybrids 887 01:04:33.800 --> 01:04:42.000 reported twenty five percent fewer issues than internal combustion cars. However, however, 888 01:04:42.800 --> 01:04:46.159 the report went on to say the problems are largely related to car companies that 889 01:04:46.199 --> 01:04:51.039 are new to the EV market. For the first time. Last week, 890 01:04:51.119 --> 01:04:57.760 Consumer Reports is recommending the Tesla Model. Y recommended to buy the Tesla Model 891 01:04:57.760 --> 01:05:00.519 Why, which in just four years has become one of the top selling cars 892 01:05:00.519 --> 01:05:04.159 in the world. That's the SUV. I least my cat, well, 893 01:05:04.159 --> 01:05:09.400 at least my test lie. I figured that Tesla has been making evs for 894 01:05:09.480 --> 01:05:13.360 twelve years, right, everybody else has been doing it for about twelve minutes. 895 01:05:14.280 --> 01:05:16.880 So I'm figuring if anybody's got this figured out, it's going to be 896 01:05:16.880 --> 01:05:21.480 Tesla And it sounds like I may have been right. Do you drive the 897 01:05:21.480 --> 01:05:26.119 Model Y? I do? I do. I'm an suv guy, so 898 01:05:26.239 --> 01:05:30.280 whatever the suv was, then it happened to be the Model Y. It 899 01:05:30.400 --> 01:05:33.719 also ranked and I'm not trying to sell Model ys here, but Model Y 900 01:05:33.840 --> 01:05:40.920 also was. Europe has new safety standards for automobiles that were implemented this year, 901 01:05:41.639 --> 01:05:45.559 and in the initial run through, the number one safest car in that 902 01:05:45.599 --> 01:05:51.239 survey was the Tesla Model Y. Did you see there's a video out there 903 01:05:51.239 --> 01:05:55.880 with the cyber truck crash video? No, it is ridiculous. How good 904 01:05:55.880 --> 01:05:58.320 that is? It crashed straight into it like the wall, like they do 905 01:05:58.679 --> 01:06:01.159 hardly anything into the cabin. Are you serious? I don't. I think 906 01:06:01.159 --> 01:06:04.400 it's going like forty or something thirty And it's bulletproof, right, And it's 907 01:06:04.679 --> 01:06:08.639 bulletproof? Is that true? But we can't figure that out, right, 908 01:06:08.679 --> 01:06:12.840 I mean they've talked about that and they I was watching. The body is 909 01:06:12.880 --> 01:06:17.440 bulletproof, right, what the body's bulletproof? The bullet the windows were to 910 01:06:18.239 --> 01:06:21.519 have to into it, but then you have to roll them. There's the 911 01:06:21.760 --> 01:06:24.679 trade off there, right, You can roll them down, so if you're 912 01:06:24.679 --> 01:06:27.679 gonna go eat fast food or something. You can't really do that. I 913 01:06:27.800 --> 01:06:30.199 just I'm just dying to see my first, uh my first Tesla truck on 914 01:06:30.239 --> 01:06:34.159 the road because it looks just horrific. I'm actually pretty excited to see it. 915 01:06:34.239 --> 01:06:40.320 Yeah, but for me, it just looks ridiculous. That looks like 916 01:06:40.519 --> 01:06:45.800 the Flintstones or the Jetson's or something forty nine Acolytic video. Yeah, so 917 01:06:45.920 --> 01:06:49.239 bizarre. But and maybe in person, Todd, you mentioned if someone saw 918 01:06:49.280 --> 01:06:51.920 one in person who said it was kind of cool. That's what people are 919 01:06:51.960 --> 01:06:55.719 saying. It's saying it looks terrible in pictures, but it looks better in 920 01:06:55.719 --> 01:06:59.880 person. I remember a few short years ago driving around town and I would 921 01:07:00.000 --> 01:07:00.960 see a Tesla and I go, oh, there's one of those Teslas. 922 01:07:00.960 --> 01:07:05.239 It was so rare to see a Tesla. Now you cannot run an errand 923 01:07:05.280 --> 01:07:11.480 without seeing a cloud a cloud license plate, just you can't. So it's 924 01:07:11.519 --> 01:07:15.519 coming, and Tesla. I got some. I read an article earlier this 925 01:07:15.599 --> 01:07:19.679 week about that, and it was Tesla is by far the most profitable one. 926 01:07:20.559 --> 01:07:26.039 There's only one other company. It's I forgot the name of it. 927 01:07:26.039 --> 01:07:30.800 It's only one other profitable company. Or sorry, there's two. It's byd 928 01:07:30.960 --> 01:07:33.159 andle Otto are the only other two evs that have been profitable like Tesla. 929 01:07:33.239 --> 01:07:38.199 But Tesla owns seventy percent of that profit. You got all the ones throughout 930 01:07:38.199 --> 01:07:40.880 the last couple of years from like twenty nineteen, Nicola, fisk Er, 931 01:07:40.960 --> 01:07:45.400 Rivi, and Lucid, Neo Xping, Polarster, Canoe, Lorstown Motors all 932 01:07:45.440 --> 01:07:47.000 at one point from twenty nineteen to twenty twenty one, they had a combined 933 01:07:47.360 --> 01:07:51.039 market cap of four hundred and seventy billion dollars when interest rates for zero percent, 934 01:07:51.079 --> 01:07:55.559 two percent all that today it's just pumping them up. Today the market 935 01:07:55.559 --> 01:08:00.639 cap combined is fifty nine million, sorry, fifty nine billion, seven percent 936 01:08:00.719 --> 01:08:05.280 drop. People are getting tired of these nonprofit, nonprofitable EVS companies. Well, 937 01:08:05.280 --> 01:08:08.760 I want to hear it with Tesla because it's profitable. I want to 938 01:08:08.800 --> 01:08:14.559 hear Ford and GM struggling with evs and stallantas so they're brand new to it. 939 01:08:14.800 --> 01:08:16.520 Where do you think where was Tesla twelve years ago? They were struggling. 940 01:08:16.680 --> 01:08:20.479 No that You just look at Toyota and Honda and compare that to Ford 941 01:08:20.520 --> 01:08:25.319 and GM and you can see a huge divergence in price performance because of just 942 01:08:25.399 --> 01:08:28.600 that. We well, we know that Tesla made one hundred and eighty degree 943 01:08:28.640 --> 01:08:30.680 pivot in April when they got the new CEO. They went from you know, 944 01:08:30.720 --> 01:08:33.880 they were all hybrid. You mean Toyota Tesla, I say, he 945 01:08:33.920 --> 01:08:38.520 said, Tesla, I'm sorry, Toyota. Back in April when they got 946 01:08:38.520 --> 01:08:42.439 the new CEO, they went from all hybrid to pretty much all electric. 947 01:08:42.880 --> 01:08:45.520 And it's gonna be interesting because they're coming with technology that we haven't seen. 948 01:08:45.840 --> 01:08:50.359 What will that do to the market for Tesla's If Toyota comes with a one 949 01:08:50.399 --> 01:08:54.680 thousand mile range that can be charged in ten minutes, that's just interesting. 950 01:08:54.720 --> 01:08:58.039 How Toyota did that one eighty with one new CEO, because I mean, 951 01:08:58.079 --> 01:09:00.640 the founder was all CEO and president. He was like, we're not going 952 01:09:00.680 --> 01:09:02.960 full electric, We're keeping the hybrids. It works well, we'll slowly get 953 01:09:02.960 --> 01:09:06.560 into electric. Yep. He retires a month later. Okay, we're going 954 01:09:06.600 --> 01:09:10.640 all electric and that's all. I'll tell you what crazy. My prediction for 955 01:09:10.720 --> 01:09:15.359 twenty twenty four is that EV sales will underperform and hybrid sales will all perform 956 01:09:15.560 --> 01:09:18.479 because interest rates won't go down as much, so people can't make evs affordable, 957 01:09:18.720 --> 01:09:23.039 and that's been the real problem with EV sales growth going forward, is 958 01:09:23.079 --> 01:09:26.520 that affordability issue. So I think people are not really looking at that. 959 01:09:26.640 --> 01:09:30.920 Like there's obviously increased interest I don't think that will slow down the increased ability 960 01:09:30.079 --> 01:09:33.640 to buy that car will go down because of interest rates, saying and not 961 01:09:33.680 --> 01:09:36.640 going down as fas as people expect. People don't have the savings they used 962 01:09:36.640 --> 01:09:40.399 to have. People already have a new car if they wanted a new car 963 01:09:40.439 --> 01:09:43.920 in the last three years. It just doesn't seem like a good setup for 964 01:09:44.319 --> 01:09:47.800 real big sales growth in EVS when you can get the alternative hybrid for a 965 01:09:47.880 --> 01:09:53.199 cheaper The other thing is is it's a matter of numbers too. Like you 966 01:09:53.279 --> 01:09:56.359 go from one to two, that's one hundred percent increase. Right, you 967 01:09:56.439 --> 01:09:59.640 go from two to three, that's a fifty percent increase. You got three 968 01:09:59.680 --> 01:10:02.560 to four, that's a thirty three percent increase. So when you hear about 969 01:10:02.880 --> 01:10:09.000 sales the growth of EV slowing, that's what's happening here over here. It's 970 01:10:09.079 --> 01:10:11.479 yeah, it's here over ear. This is going to be the number one 971 01:10:11.520 --> 01:10:15.239 year for EV sales ever in history. Uh So, slowing percentage wise, 972 01:10:15.319 --> 01:10:18.359 Absolutely, you can't grow you know, one to two, two to three 973 01:10:18.399 --> 01:10:23.199 two the example I used. You can only go so far, and then 974 01:10:23.319 --> 01:10:26.239 then the numbers start to get smaller. And I think that's what Dean was 975 01:10:26.279 --> 01:10:30.239 saying a little bit about the growth of companies like Microsoft and Apple and and 976 01:10:30.359 --> 01:10:36.119 Vidia. Eventually the numbers get so big it's hard to keep them the growth 977 01:10:36.479 --> 01:10:40.840 to pivot into different directions. And I think that's what Apple has done a 978 01:10:40.880 --> 01:10:44.159 really good job of just bringing new ideas to the table, which you didn't 979 01:10:44.159 --> 01:10:47.359 think they would. They've done a spectacular job. Yeah, their VR Virtual 980 01:10:47.399 --> 01:10:50.439 Reality had said it looks amazing compared to the oculus and stuff. And the 981 01:10:50.479 --> 01:10:54.560 craziest thing about those companies they have so much dry powder that if you have 982 01:10:54.640 --> 01:10:57.720 one of those teenagers that thing talked about that makes a really cool product, 983 01:10:57.720 --> 01:11:00.720 they just buy them out. You know, We've seen it so often Microsoft 984 01:11:00.800 --> 01:11:05.560 Chat GBT right, you know. So Apple's kind of the high tech version 985 01:11:05.600 --> 01:11:12.119 of Amazon. Right, so much cash, especially in the lawyers and stuff 986 01:11:12.119 --> 01:11:15.640 that when they get the anti treasdent like the pretty much trying to monopolize things, 987 01:11:15.640 --> 01:11:17.119 they just got to lawsuits buy it anyways, and then it's over. 988 01:11:17.640 --> 01:11:20.279 They have so much cash on the side to do that stuff. Yeah, 989 01:11:20.279 --> 01:11:25.000 we talked a little bit about Rivian. You know, Stifle initiated coverage of 990 01:11:25.039 --> 01:11:29.880 them last week with a buy rating. This Investment Banks thinks industry headwinds will 991 01:11:29.880 --> 01:11:32.079 abate over the next few years, they pointed out, and I'd forgotten about 992 01:11:32.079 --> 01:11:39.640 this. Amazon has agreed to buy ten thousand Rivian vehicles I'm assuming to pick 993 01:11:39.720 --> 01:11:44.199 up. No, No, it's it's delivery tru delivery truck. It's actually 994 01:11:44.239 --> 01:11:45.560 Rivian makes something we don't see on the road right now. Well, you 995 01:11:45.600 --> 01:11:48.920 see with Amazon trucks, you know those Amazon delivery trucks, it's like that. 996 01:11:49.039 --> 01:11:51.000 But for Rivian, they're going to buy those. Okay, I don't 997 01:11:51.039 --> 01:11:54.840 think I've ever seen a Rivian van of any that's what they're buying though, 998 01:11:54.920 --> 01:11:57.800 But that's what's not making up truck. They're making it for deliveries. Must 999 01:11:57.800 --> 01:12:00.960 be making it for Amazon, and they are. That's why we haven't seen 1000 01:12:00.000 --> 01:12:02.319 it yet, I think. So. Anyway, we're coming to the end 1001 01:12:02.359 --> 01:12:06.319 of the fourth segment. We'll be coming back. We've got Jonathan coming I 1002 01:12:06.319 --> 01:12:10.720 think in the last segment, and we appreciate your joining us. On this 1003 01:12:10.880 --> 01:12:13.960 Sunday morning. Without you, this whole thing's kind of windless. Well, 1004 01:12:13.960 --> 01:12:26.960 thank you, doctor. You're doing say it's only a man. Welcome back. 1005 01:12:26.960 --> 01:12:29.239 You're listening to the Money Matter Show. I'm Dylan Greenberg. I'm here 1006 01:12:29.279 --> 01:12:31.520 with talk Lick, Sebastian Borsini, and we got our constant guest on, 1007 01:12:31.640 --> 01:12:35.640 Jonathan Sibilia, our state attorney. How you doing. What's happening guys, 1008 01:12:35.800 --> 01:12:42.079 Well, let's talk about today. Yeah, absolutely, how you've been been 1009 01:12:42.079 --> 01:12:44.720 good? Doing good? You gotta talk a little closer into the mic. 1010 01:12:44.760 --> 01:12:46.399 I know this is this isn't even your first time. Well, it's a 1011 01:12:46.399 --> 01:12:51.319 new seat. So Dave got up and walked away type of Micright, So 1012 01:12:51.319 --> 01:12:53.920 what you got for us today? Well, I wasn't ask you. What 1013 01:12:53.920 --> 01:12:56.880 would you guys do if you want to lottery? What was the first thing 1014 01:12:56.920 --> 01:12:59.239 you would do? Well? How much money? Yeah? How much money 1015 01:12:59.279 --> 01:13:00.720 is it? Okay? Good question. Well let's just say it's a million. 1016 01:13:01.079 --> 01:13:03.520 It's a million, that's not a lot Okay, how about ten million? 1017 01:13:03.640 --> 01:13:05.640 Okay, take a million to do this is something fun with it, 1018 01:13:05.680 --> 01:13:10.560 and then put nine million in different things, investments in annuity for later on. 1019 01:13:10.640 --> 01:13:13.560 That's the first thing you would do. I put ten million for fun, 1020 01:13:14.359 --> 01:13:16.479 I put ten million. I probably buy a thirty year government because that's 1021 01:13:16.520 --> 01:13:20.159 four percent right now, and then I can get four percent off ten million, 1022 01:13:20.199 --> 01:13:24.119 which is four hundred thousand dollars a year, and I'll just live off 1023 01:13:24.159 --> 01:13:28.000 four thousand dollars a year and never touch my principal. How about you, 1024 01:13:28.000 --> 01:13:31.399 Sebastiana's not going to be ten mil. I'm buying tickets to the univers On 1025 01:13:31.479 --> 01:13:39.000 a versus Wisconsin game tomorrow. Get wipe clean after that, right, okay, 1026 01:13:39.000 --> 01:13:40.960 But if you get ten mills, what I'm saying, is it that 1027 01:13:41.079 --> 01:13:45.319 ten million or a gross ten million? You're asking wrong people this. You 1028 01:13:45.319 --> 01:13:46.880 guys are starting to confuse me a little bit. To make this a simple 1029 01:13:47.000 --> 01:13:51.319 question may be a little fun. I'm about to build my financial plan right 1030 01:13:51.319 --> 01:13:57.319 now. You'll pull up the planning tool. How about post tax ten million, 1031 01:13:57.439 --> 01:13:59.960 post tax ten mill? Yeah? Yeah, take a million to go 1032 01:14:00.039 --> 01:14:01.600 have fun and then putt nine million in loo at thirty year bonner in nudy. 1033 01:14:01.640 --> 01:14:04.039 What kind of fun would you do with it? I don't even know 1034 01:14:04.079 --> 01:14:08.600 yet. You don't know Vegas, Dad, do something for Vegas. Yeah, 1035 01:14:08.640 --> 01:14:12.439 I probably put two hundred and fifty thousand dollars on black. Hopefully, 1036 01:14:12.720 --> 01:14:14.880 hopefully it doubles. I want to at least stand it the whole way. 1037 01:14:14.920 --> 01:14:15.880 If I lose, I don't want to put it, never going to gamble 1038 01:14:15.960 --> 01:14:18.439 again. If I win, you's gotta have fun with self lifelong. You 1039 01:14:18.479 --> 01:14:20.920 want to put the majority and something smart that will help you later on it 1040 01:14:21.039 --> 01:14:25.039 last. You don't just blow through it in three years because you buy ten 1041 01:14:25.079 --> 01:14:27.720 cars, two houses. Divvy it up a little bit, right, Yeah, 1042 01:14:27.720 --> 01:14:29.840 you don't want to put on black and then head home from the from 1043 01:14:29.880 --> 01:14:31.199 got enjoy you win the lot You got enjoy a little bit, all right, 1044 01:14:31.199 --> 01:14:33.239 the majority and smart things. But what did you do is in a 1045 01:14:33.279 --> 01:14:35.199 state point, Yeah, we win lottery. What do we do with it? 1046 01:14:35.239 --> 01:14:38.239 Well, you know, I look at I look at the winning the 1047 01:14:38.279 --> 01:14:40.840 lottery. Sometimes it is getting in inheritance. You know, it's not always 1048 01:14:40.920 --> 01:14:45.159 nice that your parents or somebody close you passes away and you come to all 1049 01:14:45.199 --> 01:14:46.039 this money. But the first thing you need to do is just like I 1050 01:14:46.119 --> 01:14:49.520 kind of take a step back, right, you know, don't go out 1051 01:14:49.520 --> 01:14:54.760 and go crazy. You know, you hear all these horror stories, but 1052 01:14:54.880 --> 01:14:57.439 you want to like just sit there and like reflect. Okay, here's what's 1053 01:14:57.479 --> 01:15:00.119 happening. Here's what I didn't have, and here's what I want, and 1054 01:15:00.119 --> 01:15:02.279 here's what I want to do with it, right, you know? Uh? 1055 01:15:02.319 --> 01:15:05.640 And then the next thing to do call your financial planner? Right? 1056 01:15:05.720 --> 01:15:12.239 You come into it Hard's right, because I came into some money about thirty 1057 01:15:12.279 --> 01:15:16.000 thousand dollars that I wasn't expecting a while back. And the first thing I 1058 01:15:16.000 --> 01:15:18.479 want to do is buy car. My wife stopped me and she says, 1059 01:15:18.520 --> 01:15:20.880 no, let's buy a house. And that's exactly what we did. And 1060 01:15:20.920 --> 01:15:24.520 that thirty thousand dollars, you know, I bought at the right time, 1061 01:15:24.600 --> 01:15:28.439 turn into a couple of hundred thousand dollars. Right. So the first thing 1062 01:15:28.479 --> 01:15:30.760 you want to do is what reach out your final financial planners? You guys 1063 01:15:30.760 --> 01:15:33.880 failed, you know, because you want to party with Wait wait wait, 1064 01:15:33.960 --> 01:15:36.840 I said, financial plan take up? I said, I was building my 1065 01:15:36.920 --> 01:15:40.800 financial plan, so I said take a portion and put the majority of it. 1066 01:15:40.920 --> 01:15:44.119 And secondly, we are the planners, so we're talking to ourselves already. 1067 01:15:44.239 --> 01:15:45.640 I know you guys should be a better teacher. I'm going to reach 1068 01:15:45.640 --> 01:15:51.119 out to Todd. I don't even know what to do. What do well? 1069 01:15:51.239 --> 01:15:54.359 If you do need a financial plan because it's just one of a lottery 1070 01:15:54.600 --> 01:15:56.680 that is a smart thing, Well, definitely don't put it on black, 1071 01:15:56.840 --> 01:16:00.000 right, not all of it. We would Uh, anyone listening with just 1072 01:16:00.039 --> 01:16:03.279 won the lottery, it's going to give you a free financial plan. It 1073 01:16:03.399 --> 01:16:06.159 just like we give everyone a free financial plan, is it? Because I 1074 01:16:06.159 --> 01:16:09.960 mean you come into ten million dollars as gross and you get that money and 1075 01:16:10.000 --> 01:16:12.600 you're thirty years old. That changes your entire life and you can make it 1076 01:16:12.680 --> 01:16:15.600 last your entire life if you are smart with it. If you go blow 1077 01:16:15.640 --> 01:16:17.880 it ten million on black in Vegas, you're back to where you were. 1078 01:16:17.920 --> 01:16:21.359 You could have a life changing event with this lottery and it could really change 1079 01:16:21.359 --> 01:16:25.000 you for the next thirty thirty, five sixty years. Yeah, and that's 1080 01:16:25.039 --> 01:16:28.079 even if you inherited two hundred thousand dollars, three hundred thousand dollars, four 1081 01:16:28.159 --> 01:16:30.239 hundred thousand dollars. If you got that kind of money, you know, 1082 01:16:30.279 --> 01:16:33.800 the first people you should speak to is your state planner and your financial planner. 1083 01:16:33.880 --> 01:16:36.279 Yep. And like what we can do with that is a financial plan 1084 01:16:36.279 --> 01:16:40.800 where it can show you what different scenarios would work and show you how it 1085 01:16:40.800 --> 01:16:45.479 would work if you say you put it into just a regular taxtuble account because 1086 01:16:45.479 --> 01:16:46.760 you inherited it, show you how that grows. What if you put it 1087 01:16:46.760 --> 01:16:49.239 an annuity and look for income later down in life. What if you do 1088 01:16:49.239 --> 01:16:53.439 some life insurance because you've got a young family. It's different avenues like that 1089 01:16:53.439 --> 01:16:56.199 that you could look at with the money you came into. But you also 1090 01:16:56.319 --> 01:16:59.399 in a sense act like a lot of it's not there, yeah there before. 1091 01:16:59.439 --> 01:17:00.520 If it's a large some of money, obviously it's going to impact your 1092 01:17:00.560 --> 01:17:03.439 lifestyle and may probably make it better. So that will show up and expenses. 1093 01:17:03.680 --> 01:17:05.720 So what you have to do is go to your plan and put a 1094 01:17:05.800 --> 01:17:10.319 higher expense number with the extra assets. Doesn't make a difference. Does the 1095 01:17:10.359 --> 01:17:12.560 plan work? If it does, cool, can we spend more? You 1096 01:17:12.560 --> 01:17:15.199 know, you're able to actually find what's the maximum amount you can spend without 1097 01:17:15.439 --> 01:17:19.159 making a really bad plan. And you can do that with software that we 1098 01:17:19.199 --> 01:17:23.319 have today in this world. So that's why it's so beneficial. I'm gonna 1099 01:17:23.319 --> 01:17:27.279 imagine getting ten million dollars, you know, fifty years ago, because you 1100 01:17:27.399 --> 01:17:30.560 really are just the knowledge that is around you is what you have. There 1101 01:17:30.600 --> 01:17:31.439 was no internet, there well, you know, there wasn't anything that you 1102 01:17:31.479 --> 01:17:34.840 could you go to the library. I guess that's the most knowledge you could 1103 01:17:34.880 --> 01:17:39.720 get it afforded to you. So now you have access and resources all around 1104 01:17:39.760 --> 01:17:43.439 you in terms of and really here we have everything you need. Right. 1105 01:17:43.439 --> 01:17:46.039 We have the financial planners. You're you're the estate planner. John helps them 1106 01:17:46.039 --> 01:17:48.640 with that, and we have you know, tax planners if we need that 1107 01:17:48.760 --> 01:17:54.159 thing. So yeah, yeah, so you know, and I so many 1108 01:17:54.159 --> 01:17:56.760 times that people that come into that money and then they just blow it. 1109 01:17:56.760 --> 01:17:59.000 They do go to Vegas and they do put it on black or they do 1110 01:17:59.640 --> 01:18:01.600 you know, so uh, you know, people all around them, they 1111 01:18:01.600 --> 01:18:04.239 start you know, hitting you up for money. Yeah, you know, 1112 01:18:04.279 --> 01:18:08.119 hey, can I borrow this? Can I borrow that? So you you 1113 01:18:08.119 --> 01:18:11.359 definitely want to speak with you guys. Invest it. I'm gonna start a 1114 01:18:11.399 --> 01:18:14.439 business and it's gonna do great. Sometimes the issue is too that like they 1115 01:18:14.479 --> 01:18:16.520 make say they win the lottery, it's two hundred thousand dollars. All of 1116 01:18:16.560 --> 01:18:19.119 a sudden, their mindset is I made two hundred thousand dollars this year, 1117 01:18:19.159 --> 01:18:23.920 that's gonna be forever. So they start spending it on stuff that they can't 1118 01:18:23.920 --> 01:18:27.319 necessarily forward for five ten years, like like you go buy a one hundred 1119 01:18:27.319 --> 01:18:30.479 thousand dollars car, but they couldn't afford that prior to this lottery. They 1120 01:18:30.520 --> 01:18:32.640 bought it like they could for ten years and that's what your payment whatever. 1121 01:18:32.680 --> 01:18:34.560 And that's what I think is going on with the economy right now, is 1122 01:18:34.600 --> 01:18:38.840 you know, so many people had the people had all this money for so 1123 01:18:39.079 --> 01:18:42.600 long, and now they're still spending as though they have it, and they're 1124 01:18:42.680 --> 01:18:45.920 driving up credit card fees, credit card debt all time high every month. 1125 01:18:45.000 --> 01:18:48.319 The last few months, you got, savings are draining. It's the doom 1126 01:18:48.399 --> 01:18:54.199 day doom days spending. It's the idea that these people think they have the 1127 01:18:54.239 --> 01:18:58.600 money available because they just came off a period of time where savings rates were 1128 01:18:58.600 --> 01:19:02.439 at the highest they've ever been because why people were getting sent money that they 1129 01:19:02.520 --> 01:19:05.880 didn't work for. Obviously, most people just save that because I never I 1130 01:19:05.880 --> 01:19:10.319 didn't need in the first place. So you know, cash levels were at 1131 01:19:10.359 --> 01:19:14.039 all time high for households. They're back down to pre pandemic levels now. 1132 01:19:14.199 --> 01:19:16.279 But you're right, Joan, people are still spending like they're in the pandemic, 1133 01:19:16.359 --> 01:19:19.920 getting those you know, stimulus checks, and they're using it on their 1134 01:19:19.920 --> 01:19:24.239 credit card because they're not getting stimulus checks, right, and then we're seeing 1135 01:19:24.279 --> 01:19:29.800 delinquency, you know, increase because rates increasing trying those credit card rates are 1136 01:19:30.239 --> 01:19:32.600 they're getting crazy, they're getting crazy. Sent at the highest average twenty five. 1137 01:19:33.520 --> 01:19:35.920 Seen a lot. Yeah, bankruptcy tourneys going to be in. The 1138 01:19:36.000 --> 01:19:41.119 other interesting thing you were you bringing up was you know chat GBT and how 1139 01:19:41.159 --> 01:19:45.279 that's kind of trying to disrupt the estate planning world and maybe failing it trying 1140 01:19:45.319 --> 01:19:48.840 to do So what what kind of some of the stories you've been hearing in 1141 01:19:48.840 --> 01:19:55.000 that space. Well, you know, the area of the line man is 1142 01:19:55.079 --> 01:19:58.960 very state specific. Okay, so I mean outside the tax that's federal, 1143 01:19:59.000 --> 01:20:01.840 but you know when it the you know, wills, trusts, probate, 1144 01:20:01.960 --> 01:20:08.479 that's all states specific. So everybody's in every state's got thrown law. And 1145 01:20:09.439 --> 01:20:13.119 what's happening now is that people are trying to avoid having to spend any money 1146 01:20:13.119 --> 01:20:16.640 on attorneys or or you know, at least consult with one, right, 1147 01:20:16.720 --> 01:20:19.840 and so there is all these diys. So they got to chat GBT, 1148 01:20:20.000 --> 01:20:26.359 which is pretty incredible software. But you know, uh, I was reading 1149 01:20:26.359 --> 01:20:29.880 a blog or an article recently they were saying that somebody said, creat a 1150 01:20:29.920 --> 01:20:32.159 will for me for all fifty states, and they created fifty wills, and 1151 01:20:32.159 --> 01:20:38.600 they were basically identical. Can't have that, okay, And one, if 1152 01:20:38.640 --> 01:20:41.720 you have too many mistakes, or if you have one mistake, that will 1153 01:20:41.800 --> 01:20:43.960 is going to get thrown out and we're going to probate, or well you'll 1154 01:20:44.000 --> 01:20:47.079 probably be in probate. But now you know we're causing problems. Let's say 1155 01:20:47.079 --> 01:20:50.479 you wanted everything to go to you know, your cousin sal and not to 1156 01:20:51.199 --> 01:20:56.199 ant Loretta. Well you're kind of in a little bit of trouble because if 1157 01:20:56.199 --> 01:20:59.920 the will gets thrown out, we're going we're having to follow what's called intestases 1158 01:21:00.359 --> 01:21:05.880 statute, and that basically means is the closest closest air to you will inherit 1159 01:21:05.920 --> 01:21:10.760 everything and you no longer have a will that will stand up in court. 1160 01:21:11.159 --> 01:21:15.399 So long story short, you know, DIY is not always a good thing 1161 01:21:15.479 --> 01:21:18.520 because if you want to avoid spending two fifty to five hundred dollars on a 1162 01:21:18.560 --> 01:21:25.800 will, you may cause all sorts of ruckus after you pass away. Their 1163 01:21:25.840 --> 01:21:29.680 beneficiary is an off officially fighting and something that could have been avoided by spending 1164 01:21:29.720 --> 01:21:32.600 five hundred, now you're spending five, ten, fifteen thousand dollars turning fees. 1165 01:21:33.079 --> 01:21:35.279 Yeah, I mean it's tough on people trying to think that it's just 1166 01:21:35.359 --> 01:21:39.359 a piece of paper that you're paying for. But at the end of the 1167 01:21:39.439 --> 01:21:42.279 day, it's just like a financial plan. Yeah, sure, it's printed 1168 01:21:42.279 --> 01:21:44.439 on a piece of paper, but it's so much more than that. It's 1169 01:21:44.439 --> 01:21:46.640 the conversations you had with the client beforehand. What are your values, what 1170 01:21:46.680 --> 01:21:50.600 are your visions for what the next generation is going to do with this money, 1171 01:21:50.640 --> 01:21:55.319 and how they're going to inherit it. That is really what the piece 1172 01:21:55.319 --> 01:21:59.079 of paper you're paying for. That's how it goes so much deeper. You 1173 01:21:59.079 --> 01:22:00.119 know, the same thing in ours the financial plan. Yeah, if you 1174 01:22:00.159 --> 01:22:02.560 just look at the financial plan, you know it's not a lot. But 1175 01:22:02.600 --> 01:22:06.600 if you realize everything that we just went through and covered and and you know, 1176 01:22:06.680 --> 01:22:10.680 the peace of mind that we instilled in our clients by doing so, 1177 01:22:11.399 --> 01:22:15.399 that's worth way more than you could ever describe. So it's it's really important 1178 01:22:15.439 --> 01:22:20.159 for people to understand that a piece of paper in a state planning isn't just 1179 01:22:20.279 --> 01:22:27.039 a piece of paper, right, Oh, absolutely, And you know when 1180 01:22:27.039 --> 01:22:30.960 you come to an attorney. You we sell our time and our knowledge and 1181 01:22:31.239 --> 01:22:34.640 you know, it's it's something that we've developed. And you know, there's 1182 01:22:34.720 --> 01:22:38.680 a lot of things that change yearly. You know, the laws change in 1183 01:22:38.680 --> 01:22:42.560 Arizona every year when it comes to wills and what's available and what's not. 1184 01:22:42.760 --> 01:22:45.239 And you know, uh, if you know with the state bars attorneys, 1185 01:22:45.239 --> 01:22:51.560 we get offered from the state Bar updates to the probate manuals because there's updates 1186 01:22:51.600 --> 01:22:57.680 every year. And if you make a mistake or you know, it could 1187 01:22:58.800 --> 01:23:01.880 delay distribute. And I'll tell you right now from my experience, one of 1188 01:23:01.920 --> 01:23:05.560 the worst things you can do is delay a distribution to the beneficiary because then 1189 01:23:05.560 --> 01:23:12.119 they're lawyering up and now everybody's it's costing everybody money. Yeah, well, 1190 01:23:12.159 --> 01:23:14.520 we're run out of time. But I wanted to bring up one point because 1191 01:23:14.880 --> 01:23:17.560 this question came up today in a financial planning meaning about state planning. How 1192 01:23:18.239 --> 01:23:21.359 if you had a spouse that you know, you've developed a trust, the 1193 01:23:21.399 --> 01:23:26.359 spouse passed away, and now you have the home that you have, should 1194 01:23:26.399 --> 01:23:29.520 you have the spouse to pass away taking off the deed, how does that 1195 01:23:29.560 --> 01:23:31.319 go about if the if it's already in the trust. This is not needed 1196 01:23:31.319 --> 01:23:35.680 to be done. So how does that work for people who in Arizona. 1197 01:23:35.840 --> 01:23:39.920 Yeah, the quick and easy way of doing it would be, you know, 1198 01:23:40.560 --> 01:23:45.279 if they're on the deed, we would do basically, you know, 1199 01:23:45.319 --> 01:23:50.359 you file the the certificate with the Recorder's office and then a renunciation basically you 1200 01:23:50.399 --> 01:23:55.680 know, taking you know, updating the certificate of trust, just saying okay, 1201 01:23:55.720 --> 01:24:00.840 this the spouse passed away, uh, the surviving spouse basically soul trustee 1202 01:24:00.960 --> 01:24:04.039 okay. And then there's another other document that we would record as well, 1203 01:24:04.199 --> 01:24:11.039 not record, excuse me, but prepare uh, basically the sole trustee assuming 1204 01:24:11.039 --> 01:24:15.159 their rights. Okay. Uh. There is a little bit of logistics there. 1205 01:24:15.199 --> 01:24:19.479 However, it's as simple as that recording the you know, if you 1206 01:24:20.199 --> 01:24:24.079 have to trustees on the deed, the first thing you would probably want to 1207 01:24:24.119 --> 01:24:28.680 do is record record a death certificate with the Recorder's office. All right, 1208 01:24:28.760 --> 01:24:31.359 well, John, we appreciate your time and look forward to having on the 1209 01:24:31.359 --> 01:24:34.319 show again. As we always say, if you want to get in contact 1210 01:24:34.319 --> 01:24:36.439 with John, feel free to give us a call out this office five two 1211 01:24:36.520 --> 01:24:40.520 zero five four four four nine zero nine. If you ever want a free 1212 01:24:40.520 --> 01:24:43.760 financial plan as well. Give us a call. Yep, give a call. 1213 01:24:43.840 --> 01:24:47.640 We'll be back for the final segment of The Moneybatter Show. Say it's 1214 01:24:47.720 --> 01:25:00.359 only a name. Welcome back to the Money Matter Show. My name is 1215 01:25:00.359 --> 01:25:02.640 Toug Lick. I'm here with Dean Greenberg, Dave Sherwood, and Dylan Greenberg. 1216 01:25:02.760 --> 01:25:06.760 Just so everyone is aware, we do have that Federal Employee seminar coming 1217 01:25:06.880 --> 01:25:13.520 up on the thirteenth on the Wednesday. There are very limited seats available at 1218 01:25:13.520 --> 01:25:15.520 this point, so if you want to have it, if you want to 1219 01:25:15.520 --> 01:25:17.680 try to sign up, go to our website. You can go to the 1220 01:25:17.680 --> 01:25:20.800 Federal Employees page on our website and you've got the bottom of the page. 1221 01:25:21.039 --> 01:25:26.239 Click reditor now gets you directed directly to the event bright site where you will 1222 01:25:26.279 --> 01:25:29.239 have all the information about the event and you can sign up there. And 1223 01:25:29.279 --> 01:25:31.239 it's a seminar for federal employees getting ready to retire, probably within the next 1224 01:25:31.239 --> 01:25:34.600 ten years or so. It goes through everything that has to do with your 1225 01:25:34.600 --> 01:25:40.479 retirement in depth and comes in with a free financial plan as well afterwards to 1226 01:25:40.560 --> 01:25:44.039 incorporate those benefits into the plan and show how it will bridge your income gap 1227 01:25:44.119 --> 01:25:47.199 through retirement as well. With social Security and other things like that. Well 1228 01:25:47.279 --> 01:25:50.399 you sound so enthusiastic. Well, thank you. You know, this thing 1229 01:25:50.479 --> 01:25:55.720 is really great. They get a day off, they get lunch, they 1230 01:25:55.720 --> 01:26:00.760 get all this information and guess what they learned how to get into retirement stretch 1231 01:26:00.840 --> 01:26:04.439 free and not ever have to worry about it. Yep, when you find 1232 01:26:04.439 --> 01:26:08.880 somebody in from Texas or Louisiana, Louisiana, I mean, come on, 1233 01:26:08.920 --> 01:26:12.399 he's done these seminars all over the country, helped thousands of federal employees get 1234 01:26:12.439 --> 01:26:15.359 ready for retirement, to help them know what their options are. There's a 1235 01:26:15.359 --> 01:26:20.239 lot like the Greenberg tavern is putting out the last call, right, Yeah, 1236 01:26:21.000 --> 01:26:24.840 I mean it's three days from now. Yeah, it's pretty much pretty 1237 01:26:24.880 --> 01:26:27.520 much three days from now, it's gonna be over. Yeah, you know 1238 01:26:27.560 --> 01:26:31.520 that. There's an interesting chari I saw where it's said chapter eleven bankruptcy filings 1239 01:26:31.520 --> 01:26:35.720 at the highest level since twenty ten. That's a funny ten. That's a 1240 01:26:35.760 --> 01:26:40.159 silence stat you ever heard? Wow, do you think that'd be on the 1241 01:26:40.359 --> 01:26:45.239 on the news? And the companies that are on borderline companies borderline companies to 1242 01:26:45.319 --> 01:26:48.319 be on Okay, so I got wait for your phases us companies that are 1243 01:26:48.319 --> 01:26:54.079 on the on the border of bankruptcy is at the highest level as well that 1244 01:26:54.079 --> 01:26:57.520 we've ever seen. Get these numbers, well, this specific one is from 1245 01:26:57.560 --> 01:27:01.880 Bloomberg Opinion. The previous one, we got booming title loans. We got 1246 01:27:01.920 --> 01:27:08.199 booming Pond store. We got Campbell soup stock rallying Campbell soup stock is usually 1247 01:27:08.279 --> 01:27:12.760 you're signed that there's there's trouble in the watch. The market outlook is a 1248 01:27:12.960 --> 01:27:17.159 good one. That's everything's global sales growth is slowing again. So if you 1249 01:27:17.199 --> 01:27:19.720 just look at America, you might see goldilocks, but if you look at 1250 01:27:19.720 --> 01:27:24.039 the world, you don't. No, that's that's true, and that's probably 1251 01:27:24.079 --> 01:27:29.119 why he still feels he's not cutting interest rates right now, but the markets 1252 01:27:29.159 --> 01:27:31.600 think he has to. Maybe the markets feel he's going to be a problem. 1253 01:27:31.680 --> 01:27:35.479 Then Powell doesn't think there's going to be a problem. Yeah, you 1254 01:27:35.520 --> 01:27:39.800 see that in the Pond market. It's just it's so hard to understand why 1255 01:27:39.840 --> 01:27:43.920 stocks continue to rally higher, but they do. I mean, they forget 1256 01:27:43.920 --> 01:27:45.600 there's a war going on right at least. I mean, I guess there's 1257 01:27:45.640 --> 01:27:48.399 still a wall going on in the Ukraine because they keep asking for more money 1258 01:27:49.279 --> 01:27:54.279 You almost wonder if these wars get set up and then we give them money 1259 01:27:54.319 --> 01:27:57.479 and then the money comes back to Well, it's a really interesting hard line 1260 01:27:57.520 --> 01:28:00.199 stand that the Republicans put in this week where they said, no, we're 1261 01:28:00.199 --> 01:28:01.600 not gonna do any more funding for Ukraine if we don't have a border plan 1262 01:28:01.880 --> 01:28:04.600 right, And that was the first time they really stood up and said no, 1263 01:28:04.720 --> 01:28:06.840 we're not doing this. Bide In through a fit. He says, 1264 01:28:06.880 --> 01:28:10.880 you guys, you don't realize how the bad, the dire problem in Ukraine 1265 01:28:10.960 --> 01:28:13.760 is. You need to get this passed. And the Republicans just stink firm. 1266 01:28:13.840 --> 01:28:16.279 Well, because people are the same. Listen, you tell us we 1267 01:28:16.359 --> 01:28:20.279 got to help save the people of Ukraine, but you're not helping to saving 1268 01:28:20.359 --> 01:28:26.319 people of America. We need to we need to protect America just like we 1269 01:28:26.399 --> 01:28:30.880 got to protect Ukraine. Don't talk about protecting another country until you protect that 1270 01:28:31.079 --> 01:28:34.479 was. You know what's crazy is that we're still trying to help Ukraine in 1271 01:28:34.479 --> 01:28:39.159 the Ukraine Civil War and Putin's getting nominated for Time Person of the Year. 1272 01:28:39.680 --> 01:28:42.239 Is that unbelievable? What he was, Oh, you didn't know that. 1273 01:28:42.319 --> 01:28:46.399 I didn't, Taylor Swift, I don't even think about time Joe. It 1274 01:28:46.439 --> 01:28:53.520 was like a spoof. It was Taylor Swift, Trump's prosecutors. Yeah, 1275 01:28:55.079 --> 01:29:00.760 how you say his name from China and putin Hollywood Strikers. Those were the 1276 01:29:00.760 --> 01:29:09.920 nominees, Taylor Swift one that gunness. I mean, I don't think necesily 1277 01:29:10.319 --> 01:29:14.520 gave it to Taylor Swift. I don't think personally here always means like it's 1278 01:29:14.560 --> 01:29:17.439 the best person of the year. I think it's like it's the most influential 1279 01:29:17.479 --> 01:29:21.039 person. But it kind of implies important. How would you, Yeah, 1280 01:29:21.039 --> 01:29:25.479 why would you put Trump on there? It's pretty influential, of course that 1281 01:29:25.520 --> 01:29:28.760 they put Trump's prosecutors on there. Of course that's what they put on there. 1282 01:29:29.399 --> 01:29:31.760 It is more of the most influential. It might be just like you're 1283 01:29:31.800 --> 01:29:34.800 in the news a lot, and I'm kind of thing, I'm kind of 1284 01:29:34.800 --> 01:29:38.920 thinking that the war in Ukraine and the war in Israel's over because I'm watching 1285 01:29:38.920 --> 01:29:42.279 the Trump News Network and they're not talking about it anymore. They're talking about 1286 01:29:42.279 --> 01:29:47.880 Trump News Network, the CNN right then trying to do is just Trump Now. 1287 01:29:47.920 --> 01:29:50.119 They're trying to go back and rip them apart, and you know, 1288 01:29:50.279 --> 01:29:54.840 and and everything else, and it's not gonna happen. Guys. The bottom 1289 01:29:54.880 --> 01:29:58.560 line is is that America will be in big trouble if these numbers stay the 1290 01:29:58.560 --> 01:30:01.520 way they are. And so how bidenm wins the election? Oh my goodness. 1291 01:30:01.640 --> 01:30:04.439 Yeah, I won't stand for it. I don't care what people want 1292 01:30:04.479 --> 01:30:08.359 to call me next time. I will not say that. It was so 1293 01:30:08.399 --> 01:30:11.279 funny. I was listening on this on CBS. They come out with a 1294 01:30:11.319 --> 01:30:15.680 report saying in Georgia, the presidential race was won by twelve thousand votes, 1295 01:30:16.039 --> 01:30:24.239 and of the I guess claims that the voter that the votes that were used 1296 01:30:24.359 --> 01:30:27.880 to win were illegitimate. They looked back on it and they said only twelve 1297 01:30:27.920 --> 01:30:31.560 thousand were found to be illegitimate. You know, that's about what took to 1298 01:30:31.560 --> 01:30:35.239 win it. So what, But it is funny. As we look at 1299 01:30:35.239 --> 01:30:39.600 the economy, there's companies in the same business that are doing well and some 1300 01:30:39.800 --> 01:30:42.960 doing poorly. Right, depends on how your managed that. I saw a 1301 01:30:43.079 --> 01:30:47.600 report on Friday that restoration hardware they now call it our h right, a 1302 01:30:47.680 --> 01:30:55.319 luxury furniture store dropped to excuse me, was was down to five percent excuse 1303 01:30:55.319 --> 01:31:00.000 me, up five percent for this year versus Williams Sonoma. That's up, 1304 01:31:00.159 --> 01:31:04.520 which is Pottery barn It's seventy four percent this year the stock and five percent 1305 01:31:04.600 --> 01:31:11.560 and RNH was down fourteen percent on Friday after they missed the third quarter and 1306 01:31:11.640 --> 01:31:17.720 made cautious comments. This is after Williams Sonoma similar business right produced a great 1307 01:31:17.800 --> 01:31:23.039 quarter and had positive comments. So what's wrong with this picture? I could 1308 01:31:23.039 --> 01:31:25.319 see a couple of industries that are doing that. We talked about the evs, 1309 01:31:25.359 --> 01:31:29.039 the hybrid and absolutely you know companies with more cash or not cash, 1310 01:31:29.239 --> 01:31:31.119 you know how much they're able to do developments in R and R and things 1311 01:31:31.199 --> 01:31:35.239 like that. So yeah, it's a very interesting company struggling and other companies 1312 01:31:35.279 --> 01:31:39.800 doing well in the same in the same darn industry. About how about this 1313 01:31:39.840 --> 01:31:45.560 week you of A wanting to raise ticket prices on basketball and football twenty five 1314 01:31:45.600 --> 01:31:49.439 percent to pay for their mess up? Yeah, that is not the way 1315 01:31:49.439 --> 01:31:53.079 you do it. Now. It's just hard to understand. I have no 1316 01:31:53.199 --> 01:31:58.479 problems giving more money to football and basketball as long as it stays with football 1317 01:31:58.520 --> 01:32:04.439 and basketball. Yeah, we do not know they and really come clean on 1318 01:32:04.560 --> 01:32:10.359 where the two hundred million plus shortagees come from. I mean, seriously, 1319 01:32:12.079 --> 01:32:15.479 our tax dollars go to these schools, the state universities. Okay, why 1320 01:32:15.560 --> 01:32:19.560 don't we know? Why isn't someone accountable? Why isn't then why aren't they 1321 01:32:19.600 --> 01:32:25.800 doing some type of forensic accounting to find out exactly how it happened, not 1322 01:32:25.920 --> 01:32:29.279 to blame someone so much as not to happen to happen again, Well, 1323 01:32:29.279 --> 01:32:31.439 you have to have an audit. Yeah, so what who did the audit? 1324 01:32:32.760 --> 01:32:35.840 I have no idea. Did they have an audit? Why is it 1325 01:32:35.960 --> 01:32:39.840 that public? How do you get in that kind of trouble when you have 1326 01:32:39.960 --> 01:32:42.760 that kind of revenue? I mean, these these are cash cows. Well 1327 01:32:42.760 --> 01:32:46.600 they're going to blame that years five years that they messed up this whole allocated 1328 01:32:46.800 --> 01:32:50.840 much of the sports programs because I thought they could. Wasn't just sports programs 1329 01:32:50.880 --> 01:32:54.600 other things as well? Was it? So they just they just didn't know 1330 01:32:54.640 --> 01:32:57.880 that they were spending forty five million more than they could each year for five 1331 01:32:57.920 --> 01:33:00.279 years, So they essentially were spending money they didn't have that They did it, 1332 01:33:00.359 --> 01:33:03.119 yeah, exactly in the final but they weren't accounting for it. Well 1333 01:33:03.159 --> 01:33:06.039 it's yeah, so whoever's doing the books was the one that needs to be 1334 01:33:06.079 --> 01:33:11.479 sued or the firm, the CPA firm that did the audit, and they 1335 01:33:11.479 --> 01:33:15.760 didn't find the issue, that CPA firm should be sued or somebody hiding it 1336 01:33:15.880 --> 01:33:16.960 not knowing it, you know what I mean, who knows? Maybe did 1337 01:33:17.039 --> 01:33:19.880 someone make a mistake and they were just not putting it down. They're getting 1338 01:33:19.880 --> 01:33:23.199 away with one or two years. Now we can get rid of it away 1339 01:33:23.199 --> 01:33:26.920 with for three more years. But before you start asking for more, come 1340 01:33:27.000 --> 01:33:30.560 clean on what happens so it doesn't happen anymore. We got a top twenty 1341 01:33:30.640 --> 01:33:34.399 rated football team and then number one rated basketball team, and we're gonna shut 1342 01:33:34.479 --> 01:33:38.479 down. Yeah, you got to be. And that's why they're like, 1343 01:33:38.479 --> 01:33:41.039 hey, we can charge twenty five ords per send. Nobody's gonna care. 1344 01:33:41.199 --> 01:33:44.119 Listen, they have to put more money into the football program. I know 1345 01:33:44.199 --> 01:33:46.520 that, and pay more to the basketball coach if you want to keep them 1346 01:33:46.720 --> 01:33:49.720 with the nil and everything else. That's if you want to have it. 1347 01:33:49.920 --> 01:33:56.039 Now. My big question is, Okay, is it more beneficial to get 1348 01:33:56.079 --> 01:33:59.640 that extra money and give it to football and basketball that supports all the other 1349 01:33:59.680 --> 01:34:05.600 sports, or is it better going ahead and and uh with that and shutting 1350 01:34:05.600 --> 01:34:09.760 down a lot of these programs that are not making money. You're gonna have 1351 01:34:09.760 --> 01:34:13.720 a hard time doing that. Why title nine, Well, I'm not talking 1352 01:34:13.760 --> 01:34:17.159 about sports programs. I'm talking about classes we don't need. Well, the 1353 01:34:17.800 --> 01:34:20.560 reason I would say push back on that, Dean, is a lot of 1354 01:34:20.640 --> 01:34:25.600 things that you will be researching will not be lucrative. They're not going to 1355 01:34:25.680 --> 01:34:29.039 be valuable until years and years after. I mean if your research, I'm 1356 01:34:29.079 --> 01:34:31.600 talking about research, okay, And a lot of those research people write grants. 1357 01:34:31.640 --> 01:34:34.720 We have clients that work at the u of A that write grants and 1358 01:34:34.760 --> 01:34:42.720 get grants programs, right of course, I am. You know where where 1359 01:34:43.039 --> 01:34:46.520 they keep banning this stuff for what reason? All right, while they're taking 1360 01:34:46.520 --> 01:34:50.279 money from the other people that don't believe in those programs. There's a real 1361 01:34:50.359 --> 01:34:54.960 problem that's gonna happen, you know. And you know what's going to happen 1362 01:34:55.039 --> 01:34:59.199 is people that give money to those the football and basketball, and it goes 1363 01:34:59.199 --> 01:35:00.600 to and they find out going to other programs, they're not going to give 1364 01:35:00.600 --> 01:35:04.319 money anymore. They can't ask for sports to pay for other stuff. Yeah, 1365 01:35:04.439 --> 01:35:09.199 they just can't run the sports department. Then by itself, they get 1366 01:35:09.840 --> 01:35:13.079 its own division, its own entity, and that's your big revenue producer at 1367 01:35:13.079 --> 01:35:16.520 the university is other than tuition, is football and then basketball second. Yeah. 1368 01:35:16.640 --> 01:35:19.520 Yeah, the smartest thing to do is take that twenty five percent make 1369 01:35:19.600 --> 01:35:23.520 you a better on the football and basketball side. You bring even more money 1370 01:35:23.520 --> 01:35:27.239 in and use that money exactly. Yeah. I will see how they do 1371 01:35:27.319 --> 01:35:30.680 with the Alima ball against Oklahoma. Of all people, they might need to 1372 01:35:30.760 --> 01:35:33.760 hire someone from ASU Accounting or something. Well, there's funny people available because 1373 01:35:33.760 --> 01:35:36.279 they're leaving by the left and right. And I know a lot of people 1374 01:35:36.319 --> 01:35:40.880 say, don't get upset about this. When people are starting to stot not 1375 01:35:40.960 --> 01:35:45.399 playing in the bowl games because they're worried about their NFL career, I understand 1376 01:35:45.399 --> 01:35:48.119 and I was full behind that before they started getting paid. The NIL is 1377 01:35:48.239 --> 01:35:53.279 not paying these players to go play for football well as a fan, as 1378 01:35:53.319 --> 01:35:57.960 a university and coaches that get rewarded for bull victories. You need to step 1379 01:35:58.039 --> 01:36:00.199 up as a player. Now you're an employee, you're getting paid. You're 1380 01:36:00.199 --> 01:36:03.640 an employee, you paying you play in a bowl game. Because when you 1381 01:36:03.680 --> 01:36:06.920 make the NFL, then they'll say I'm not gonna play in a bowl game. 1382 01:36:06.920 --> 01:36:10.399 But if I make the NFL, I'm gonna go ahead and give you 1383 01:36:10.399 --> 01:36:14.399 a hundred thousand dollars back. How about that? How about something giving back 1384 01:36:14.399 --> 01:36:18.920 to the fans and the school and the coaches. How about something like that 1385 01:36:19.159 --> 01:36:23.720 rather than the fans doing it. And then it comes bull time, our 1386 01:36:23.720 --> 01:36:26.720 best lineman decise is not gonna play. Yeah, I don't like it. 1387 01:36:26.760 --> 01:36:30.720 All right, we'll be back next week where your money matters. Be happy, 1388 01:36:30.000 --> 01:36:38.079 be healthy, and let's all day. Rob all say it's only an