March 17, 2025

Impact of Tariffs on Market Trends & Understanding Market Volatility

Impact of Tariffs on Market Trends & Understanding Market Volatility
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Impact of Tariffs on Market Trends & Understanding Market Volatility
Impact of Tariffs on Market Trends & Understanding Market Volatility

In our latest episode, we dove into the volatility of financial markets and the impact of recent economic policies. Here's what you need to know:

- Mitigating Market Risks: Dean stressed the importance of understanding and mitigating risks when...

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In our latest episode, we dove into the volatility of financial markets and the impact of recent economic policies. Here's what you need to know:

  • Mitigating Market Risks: Dean stressed the importance of understanding and mitigating risks when investing. With current market volatility, it's crucial to be nimble and ready for significant shifts, like using inverse positions or diversifying investments.
  • Economic Cycles & Tariffs: We discussed how tariffs and economic cycles impact markets. Tariffs might seem like random decisions, but they play a significant role in the broader economic strategy, potentially impacting inflation and interest rates.
  • The Value of Diversified Investment: The team highlighted buying indices as a way to manage and spread risk — S&P 500, Dow Jones, and NASDAQ all provide broad exposure, which can be beneficial in uncertain times.
WEBVTT

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Good morning, everybody. It's that time right here, seven ninety

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k and st eight o'clock in the morning, and it's

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the Money Matter Show with Dean Greenberg. The Money Matter

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Show is brought to you by Greenberg Financial Group, which

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is a registered investment advisory. That means they're registered with

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the SEC, and that means that you need to be

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careful when you are investing, because when you invest, there's risk,

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and when there's risk, you need to go ahead and

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understand it. We always tell people that they don't really

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get it. Some do, some don't, But this is a

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perfect week that you need to understand risks. We talk

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about different things. We talk about different products, we talk

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about different ideas, and we talked about mitigating risk. We

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talked about the volatility in the markets that were basically

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started about a month and a half ago and will continue.

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And that type of risk is not just portfolio risk,

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it's mental risk, it's stress risk, it's how you're going

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to navigate through these markets. I mean, on Monday, everyone

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thought that the world was falling apart. Then we had

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a nice bounce, and then we fell again on Thursday,

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all the way down to fifty five hundred. On the

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S and P five hundred, But then on Friday we

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rallied all the way back up over one hundred SMP points.

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That's volatility. When you when you're watching the SMP go

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up one and a half to two percent up or

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down in the day, that's volatility. But did you usually

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when you see stuff like that, it gets over sold,

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which I believe it. Did you see? Uh? You see

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a bounce coming, and then when the bounce comes, you

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gotta be kind of nimble because I don't think it

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continues much higher than maybe fifty eight fifty to fifty

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nine hundred, let's put it that way. We'll see by

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the time it gets there. Where did we end on

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the S and P five hundred. We ended at about

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fifty six thirty four, So that would give us wid

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fifty six uh, about two hundred more points to one

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hundred and fifty more points. So with that said, that

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would be probably maybe another four percent higher, five percent

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high or something like that. If we get that, that

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won't even make us up for the month. It'll bring

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you back about even for the year, because right now

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the S and P five hundred for the year is

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down four percent for the month. It's down five percent,

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and week it was down two and a half. The

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dal Jones was down three and a half for the week,

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five percent for the month, and for the year it's

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down two and a half. The nazak Go was down

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two and a half percent for the week. For the

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month it was down almost six percent, and for the

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year it's down eight percent. So you look at the

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small caps, well, this week it did better. It was

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only down one and a half percent, but for the

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month it's down five and a half and for the

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year it's down the most eight point two percent. The

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equal weighted S and P five hundred it was down

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two point three percent for the week, down four percent

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for the month, down one point four percent for the year.

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Not very comfortable, but you got to remember we were

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down more than that earlier. We gathered back pretty decently

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this week after being down so much and then going

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up and then getting hit again on Thursday. Pretty much

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a lot of the buy was broad based, and the

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tech stocks bound back. They've been getting beaten up pretty good.

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So my experiences in this type of market, we look

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for a bottom, you try to buy in, you buy

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an indexes, you buy some of the stocks that you

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like that you can if you can handle the volatility,

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like you know, the video was down there at one

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o six, one oh seven, one o eight. I mean

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it was pretty good. Buy down there. Microsoft got way

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down a lot of them. If you buy stocks. If

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you don't buy stocks, you stay away for and just

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going to the the to the indexes. You can buy

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the Dow Jones, you can buy the S and P

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five hundred, and you can buy the nattack or the

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Russell two thousand. Why do you do that? That gives

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you the broad base you can dollar cost savage in

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and when the markets go up, it's an easy sell

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pretty quickly and you can keep your core portfolio. Being nimble.

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Mitigating risk is very important. We did take off some

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of our instruments that we were using to mitigate risk.

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Our inverse position. We cut in half the this week.

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Why didn't we take it all off? Because we feel

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like if we get a bounce, we're going to add

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back on and plus more. Because we think ultimately if

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we break that fifty five hundred where we were this week,

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which we could do into later on in April, we

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could see us down to that fifty two hundred to

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forty eight hundred level would be where I would be

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looking at buying longer term positions. Markets usually don't turn

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on a diamond and then and then just go right

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back up to new highs. They back and fill. We

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have a lot going on. I don't need to tell

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you that. What can make is pop even more from here. Well,

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let's face it, if we get good news out of

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the Ukraine and Russia war. I mean, obviously they're talking

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about a ceasefire which can turn into a long term

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peace plan. That is positive. Some more hostages were released,

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we can move get that thing over there in the

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Middle East, calm down and stop and get a peace

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agreement there. That's two wars we can get stopped in

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a very short period of time. That's great for the market.

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Oil prices have dropped, that's good for the market. You

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saw inflation numbers lower this week. That's great for the

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market and the economy. What's not great for the economy,

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And we see it, and I've told you this, we're

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going We're in an economic cycle. Every economic cycle has

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a recession. We were almost in a recession during the

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four years Biden was there, but we adverted it. And

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why did we do it because it is spending by

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the government. The government can keep economy going by spending

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and hiring and doing the things you need to do.

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But what's the other side of that. The other side

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of it is our debt keeps rising, our interest rates

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start going up. We spend trillions on just paying our

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debt off, and until the economy slows and interust rates

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come down, we're not helping anybody because people can't afford

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those prices. So if you see what's going on now,

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which you are and listening, all you hear from the

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from the left side now when we just get started,

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is we're hurting the middle class, We're hurting the lowland

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cop just so they can get tax cuts for the billionaires. Well,

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guess what, nothing changes to give anyone credit or dismay

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in such a short period of time. Because inflation went

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to two point seven on the okay, rather than three percent,

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which is what they were looking for. You can't say, oh,

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everything that Trump is doing is great, that's why he

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did it. Now, it's the cycle. But just like when

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you sit there and go, well, eight prices have gone up,

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you can't say that and blame that on Trump. If

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there are people believing it and saying that stuff to me.

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I can't even talk to them because they don't have

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a clue of what cycles are and how long they take.

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But I do know this, in every economic cycle that

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I've been doing this with in this market for over

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forty something years, we have downturns and we haven't had one.

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We're do for one. Will the tarrifts be the one

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that creates it? Could be everyone says tariff is going

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to create higher prices. I'm the one that's telling you

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the tariffs are going to be what exactly eventually brings

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down inflation and brings down interest rates. Couple because with

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tariffs on the short run, they can say it's going

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to cost more. It's not just us, it's costing more.

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It's gonna hurt kind of Mexico, Europe, China, every other place.

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So that country's got to do something too, because if

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you want to look at it, we are stronger and

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we can handle it more than any of these other countries.

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But the terroriffts are going to get us on equal footing,

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which will eventually help us. But at the terraffs, let's

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just look the short in the short run of the tariffs.

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In the short run of the tariffs and the and

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and these uh and the well, you know, the firings

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and the cleaning up government and getting rid of people,

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there's gonna be unemployment that goes up. There's no doubt

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about it. Unemployment is going to go higher. We'll have

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a slow down in the economy. It's going to be

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short lived, but the interest rates are going to start

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coming down, which means housing is going to start picking

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up again. Housing is the number one industry in our

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country that keeps us going. There's so many industries that

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filter into housing. Corporations are adaptable. They will figure out

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how to go ahead and live through the higher tariffs

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and bring businesses back here. Especially if they start cutting

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taxes on corporations. Okay, that will bring businesses back here.

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Then there'll be jobs. You can pay people more money.

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So if you see intertrates coming down, you see jobs slowing,

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you see increase in in in in being able to

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get paid. That is great for the blue collar worker,

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that union worker that they say we don't care about.

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Those are the jobs that are going to be created

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in America. If we're able to bring back more manufacturing,

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you hear more and more of this. That doesn't have

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to be the dirty industrial jobs. Because even now when

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you go and see the old manufacturing of the smoke

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stack of the car companies, now you go look at

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the floor of the and and the and the for

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for the car companies and how they build these cars.

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It's clean. It's very clean. But you have to be

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smarter than you used to be in the early nineteen

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hundreds and nineteen thirties and forties, because now you're gonna

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have to operate with robotics. But you get trained. People

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are more accustomed to how to use those Younger people

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thirties and forties are much more accustom to knowing how

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to use technology now than they used to be. Honda's

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bringing in the plan. I hear Porsche could be bringing

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in a plant here. Now you start working towards what

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we're looking for. Interest rates coming down, inflation coming down,

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everything we were looking for. Energy prices have been coming down.

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That will be the start of it. You just don't

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turn everything around right away. And I'm not sitting here

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just touting Trump because I liked Trump. I'm touting economic

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policies something that I know something about. For a long

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period of time. And here's the thing that I do know.

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When you are trying to do something, everything is not

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gonna be perfect. It's not gonna be one right. There

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are gonna be mistakes and you have to make changes.

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As you see things not working, you change them to

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make them better. As so, one thing our government never does,

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it just adds on and adds on regulations. Remember, regulations

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are gonna get it cut. You're gonna see the pipelines

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come back on. You're gonna see us plumping more oil gas.

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We're gonna be exporters. We're gonna be making money. There's

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different ways, different ideas that this administration keeps coming up

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with to be able to bring in money to pay

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down the debt and to balance the budget. Even if

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it doesn't work, we have to applaud this administration to

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try to do it. And all you hear on the

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left hand side is they're cutting social security, they're cutting Medicaid.

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They're getting rid of the fraud and social security, they're

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getting rid of the fraud in medicaid. I've never heard

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them saying that they were cutting the entitlements. Ever. In fact,

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they've gone the other way and say we are not

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going to touch your social security, We're not going to

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touch your medicaid. However, there needs to be a plan

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by somebody at some time on once we fix this,

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like we fix the border, what is the plan for

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immigration on the border? What is the plan to keep

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social security and medicare going? So we are not going

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aheading sucking out of our grandchildren to be able to

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pay for people. And there is a way to do it,

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but you've got to cut spending. You got to cut spending.

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But so what are they doing. Number one, they're looking

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at every single government agency and cutting trying to cut

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down government. Does that hurt if you are an employee

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of the government and you're going to lose your job,

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Yes it does, and I have empathy for that, I do,

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But I also believe if you're wanted the better ones

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for the most part that are working in the government,

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you are going to still have your job because we

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still need people working in the government. But maybe we

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don't need millions of people. Maybe we need half of

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that amount, and maybe that's going to be trial and error.

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Maybe they were, oh, we have too many, we got

234
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to hire more back. I don't know the answer because

235
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I'm not privy to see in everything that's going on.

236
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I know, though, productivity is everything, and I do know

237
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that a lot of the government jobs are not productive.

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They're bureautic, buriodic or whatever, bureaucracy where one person has

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to ask another person has to ask another person. And

240
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that's the same thing in corporations. I don't see the

241
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empathy so much when people get laid off from their

242
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corporate jobs when we have a slow down, and that's

243
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what they have to do. Tech has been laying off

244
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people for two years now, ten thousand here, fifteen thousand there.

245
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People get fired from their jobs, whether they do a

246
00:15:18.480 --> 00:15:21.519
good job of bad job. I wouldn't be here today

247
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if I didn't get fired in nineteen eighty seven. I

248
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have to stick it up for clients when the market fell,

249
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and if there's no reason I should have been fired,

250
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none zero, but I was, and I didn't have any money,

251
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and I had to figure it out. That's what people

252
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do now. If you're stubborn and you see I'm not

253
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moving or I don't want to go where there's a

254
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job opportunity, or I'm not moving to a place that's

255
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actually growth oriented, yeah, then you might have some problems,

256
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but what we have to do is look at America

257
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as being an opportunity now for people to start doing stuff.

258
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All right, if I don't want to hear anymore about

259
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he's raising taxes on the lower income people so he

260
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can give tax breaks to its billionaires. I continually ask

261
00:16:15.240 --> 00:16:19.240
people how many billionaires are in the country that you

262
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keep hearing it over and over and over again towards nauseum.

263
00:16:27.080 --> 00:16:31.039
So I just said one day, I said, Alexis, how

264
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many billionaires are there in the United States? And she

265
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responded to me, she said, in twenty twenty three, the

266
00:16:40.120 --> 00:16:44.679
United States of America had seven hundred and fifty three billionaires.

267
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Seven hundred and fifty three American billionaires in twenty twenty three.

268
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So I said, you know what, things have been pretty good.

269
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I'm going to say a thousand, now a thousand. You know,

270
00:16:58.399 --> 00:17:02.559
most people think there's twenty fifty thousand, one hundred thousand.

271
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We keep talking about the same thing over and over

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and over again. First of all, people that have big wealth,

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generational wealth, they have lawyers, accountants, they have ways that

274
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they legally know how to not pay taxes. And the

275
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number one thing is called real estate. You get the

276
00:17:28.400 --> 00:17:32.240
obviously the depreciation from real estate, and if you want

277
00:17:32.279 --> 00:17:35.079
to sell something that appreciated a lot, you go into

278
00:17:35.119 --> 00:17:41.200
another real estate deal within exchange, paying higher price to

279
00:17:41.279 --> 00:17:43.599
keep the prices up, and the next thing you know

280
00:17:43.720 --> 00:17:47.000
is what you have more depreciation on the new asset.

281
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And then what happens when you die, Everyone gets a

282
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stepped up basis. So there are no taxes. So if

283
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you want to complain about the rich not paying their

284
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fair share or whatever that means, then you need to

285
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talk to the Democrats for not passing something when they

286
00:18:06.279 --> 00:18:10.480
kept talking about this two years ago, about passing at

287
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least to carry forward attacks. Because what that does is

288
00:18:14.920 --> 00:18:20.000
most of these people that they talk about are invested

289
00:18:20.039 --> 00:18:24.400
in their private equity, hedge funds, stuff like that, and

290
00:18:24.440 --> 00:18:27.839
they get paid out in shares instead of salary, and

291
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they consider it long term gains and that is why

292
00:18:31.559 --> 00:18:36.279
they pay twenty percent, and that is why their secretary

293
00:18:36.319 --> 00:18:43.319
pays thirty percent, because that's the way it works. Similar

294
00:18:43.759 --> 00:18:48.599
our own Democratic senator, who was in office when they

295
00:18:48.599 --> 00:18:51.559
did this, voted against this. She was the last one.

296
00:18:51.680 --> 00:18:54.039
If she voted yes, they changed it. She voted no.

297
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And you know what her reason was it will hurt

298
00:18:57.799 --> 00:19:01.319
the real estate market. Okay, then go ahead and tell

299
00:19:01.359 --> 00:19:03.680
the public that we're not going to change it, so

300
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they get off the backs of the people that create

301
00:19:06.240 --> 00:19:14.039
the wealth in America. Remember, if you make under sixty

302
00:19:14.079 --> 00:19:16.839
thousand dollars, you probably don't even pay taxes right now,

303
00:19:16.960 --> 00:19:20.000
and if you do, your paying very very little. The

304
00:19:20.079 --> 00:19:22.640
people that are getting hurt the most right now is

305
00:19:22.680 --> 00:19:25.279
that person making about one hundred and twenty five to

306
00:19:25.839 --> 00:19:29.759
three hundred thousand dollars and has a family. Of course,

307
00:19:29.799 --> 00:19:32.960
the deductions aren't enough as they offer the lower income.

308
00:19:34.039 --> 00:19:36.799
There's not enough benefits for them on the other side,

309
00:19:39.200 --> 00:19:41.799
and they struggle for month to month. That's the person.

310
00:19:42.039 --> 00:19:44.160
And I'm sure somebody that's making fifty goes, ah, I

311
00:19:44.200 --> 00:19:46.640
wish I was making one fifty. Do you understand it?

312
00:19:46.640 --> 00:19:50.839
Wondn't even be that much of an incremental more money

313
00:19:50.839 --> 00:19:53.720
coming to you with that extra hundred, because now you're

314
00:19:53.720 --> 00:19:56.039
going to pay some taxes on that, and now you're

315
00:19:56.079 --> 00:19:58.200
not going to get to the other things that you get,

316
00:19:58.359 --> 00:20:00.200
and you're going to spend a little bit more mone

317
00:20:00.359 --> 00:20:03.279
and you're gonna be in the same situation. That's what's

318
00:20:03.319 --> 00:20:11.519
gonna happen so right now for my crystal ball, whatever

319
00:20:11.559 --> 00:20:14.480
that means. But we've been pretty right right now. I

320
00:20:14.519 --> 00:20:17.599
told you we're gonna have a lot of volatility. I

321
00:20:17.599 --> 00:20:20.160
think we could have this week. We hit a bottom,

322
00:20:20.559 --> 00:20:23.519
went up, hit another bottom at fifty five hundred, We're

323
00:20:23.519 --> 00:20:25.839
gonna make a lower high and that could be anywhere

324
00:20:25.839 --> 00:20:28.240
from fifty eight hundred to fifty nine hundred if we

325
00:20:28.279 --> 00:20:30.759
get over there. Anything that's bored or anything you have,

326
00:20:30.880 --> 00:20:34.079
I would loosen up again. Not sell everything, of course,

327
00:20:34.119 --> 00:20:37.559
because things could change, but loosen up, reduce your risk,

328
00:20:37.920 --> 00:20:40.599
mitigate your risk. If I take off the mitigation of

329
00:20:40.640 --> 00:20:42.880
the risk down here, if you did, and then look

330
00:20:42.880 --> 00:20:46.519
for an opportunity down. If we break fifty five hundred

331
00:20:46.559 --> 00:20:49.559
around that fifty four to fifty two forty eight hundred

332
00:20:49.680 --> 00:20:51.720
level on the S and P five hundred, we go

333
00:20:51.799 --> 00:20:53.920
down about forty eight hundred, that'll be a little over

334
00:20:53.960 --> 00:20:56.799
twenty percent. Everyone want to have the heads up, Oh,

335
00:20:56.839 --> 00:20:59.480
thank you Trump, You're killing us. Look what he's doing.

336
00:20:59.720 --> 00:21:01.079
You know, Oh, this is a Trump's fault.

337
00:21:01.319 --> 00:21:01.519
You know.

338
00:21:01.640 --> 00:21:07.799
The funny part about it is when when Biden during

339
00:21:07.839 --> 00:21:10.640
his four years, he had a twenty three percent moved down,

340
00:21:10.880 --> 00:21:14.160
a thirteen percent moved down, and a ten percent moved down.

341
00:21:14.799 --> 00:21:17.559
The twenty three was a little bit more, obviously out

342
00:21:17.599 --> 00:21:19.680
of character. But he had a twenty three percent move

343
00:21:19.960 --> 00:21:22.839
but to ten and the thirteen nobody said a word.

344
00:21:24.400 --> 00:21:29.440
Nobody said a word. They bounce back. But as soon

345
00:21:29.480 --> 00:21:32.599
as this market goes down, they're beating up Trump. And

346
00:21:32.640 --> 00:21:35.720
he's the one that's gonna get us going. He's the

347
00:21:35.759 --> 00:21:39.720
one that's gonna put cement steps under economy instead of

348
00:21:39.759 --> 00:21:44.000
house of cards. He's the one that's gonna get our

349
00:21:44.240 --> 00:21:46.960
debt down. He's the one that's going to get up

350
00:21:48.119 --> 00:21:52.400
budget balanced thy halpe in the next few years. That's

351
00:21:52.440 --> 00:21:55.119
the one that's going to get interest rates down. That's

352
00:21:55.160 --> 00:21:57.920
the one that's gonna get the war stopped. He's the

353
00:21:57.920 --> 00:22:04.440
one that's gonna get the uh the immigration process under control. Yes,

354
00:22:04.519 --> 00:22:07.680
do I want to see an immigration policy that sticks. Yes,

355
00:22:08.799 --> 00:22:11.680
I have no problems of we're lowering taxes if we

356
00:22:11.720 --> 00:22:15.279
can pay our bills. Why don't we go down that

357
00:22:15.359 --> 00:22:20.079
road first? Instead of keep taxing everybody and then giving

358
00:22:20.079 --> 00:22:24.759
away trillions of dollars around the world, why don't we

359
00:22:24.839 --> 00:22:28.720
cut taxes for people? See where we are and say, hey,

360
00:22:28.839 --> 00:22:32.359
I gotta taxes more, a little bit more to be

361
00:22:32.400 --> 00:22:35.200
able to pay for these things. I'm all about that.

362
00:22:35.400 --> 00:22:38.599
I'm okay with that. No different than state tax. It

363
00:22:38.640 --> 00:22:40.880
goes up, it goes down, it goes up, it goes down,

364
00:22:40.920 --> 00:22:42.799
we vote on it, we cut it out. They're all

365
00:22:42.839 --> 00:22:46.480
we're trying to get more. How about balancing a budget.

366
00:22:46.480 --> 00:22:48.880
How about knowing how to do the budget. How about

367
00:22:48.920 --> 00:22:52.039
not hiring everybody that you need there and don't need.

368
00:22:52.640 --> 00:22:54.960
How about getting rid of the people that don't work.

369
00:22:55.200 --> 00:22:59.680
How about getting more productivity out of everything? How about

370
00:22:59.759 --> 00:23:03.960
change the mindset on how we operate as a state,

371
00:23:04.839 --> 00:23:09.960
as a county, as a country. How about us taking

372
00:23:10.000 --> 00:23:12.680
care of ourselves first. I believe in that. If we

373
00:23:12.720 --> 00:23:15.359
can't take her there selves and we ended up not

374
00:23:15.359 --> 00:23:18.039
being able to pay our bills and on debt toppled

375
00:23:18.119 --> 00:23:23.400
us over, what country will go ahead and tax there

376
00:23:24.559 --> 00:23:29.000
their they're citizens, more money so they can send USA

377
00:23:29.119 --> 00:23:32.839
people the checks so we can live a life of socialism.

378
00:23:33.599 --> 00:23:36.640
Tell me one, because that's how I look at Canada

379
00:23:36.640 --> 00:23:38.759
when they get two hundred billion dollars a year off

380
00:23:38.799 --> 00:23:41.680
of us and they claim, oh we got everyone can

381
00:23:41.799 --> 00:23:45.160
use our healthcare everybody can get a social Security check.

382
00:23:45.480 --> 00:23:49.440
Everybody can do that. Take away two hundred billion. You

383
00:23:49.480 --> 00:23:51.599
think you're gonna tax the people bore? You think they're

384
00:23:51.599 --> 00:23:54.720
gonna be okay with that, because it ain't gonna work.

385
00:23:56.160 --> 00:24:01.319
Reality is simple. Take Looking from the rich to pay

386
00:24:01.359 --> 00:24:05.839
the poor doesn't work. Having too much debt doesn't work.

387
00:24:06.440 --> 00:24:13.079
Having excess productivity will create a scenario where there's enough

388
00:24:13.160 --> 00:24:16.440
money to go ahead and tax less and still do

389
00:24:16.559 --> 00:24:19.119
all the things that we need to do and pay more.

390
00:24:19.599 --> 00:24:24.240
The markets will respond to that. Remember, mitigate risk high

391
00:24:24.759 --> 00:24:27.440
by low. We'll be right back, and I do appreciate

392
00:24:27.480 --> 00:24:31.839
you listening. Welcome back everybody to the Money Matter Show.

393
00:24:31.880 --> 00:24:38.000
We got Day Dylan, we got Sebastian and myself. Todd

394
00:24:38.160 --> 00:24:41.759
is on his way to cal Lupifornia. I see your

395
00:24:41.799 --> 00:24:45.000
grandfather there, which I think is great. Yes, absolutely got

396
00:24:45.000 --> 00:24:45.559
to go see him.

397
00:24:45.680 --> 00:24:46.279
Why I can?

398
00:24:46.960 --> 00:24:49.759
All right, So markets fell again, but actually at least

399
00:24:49.799 --> 00:24:51.480
on Friday they bounced back two percent.

400
00:24:52.160 --> 00:24:54.079
The best thing I can say about last week was

401
00:24:54.079 --> 00:24:55.440
it was better than the week before.

402
00:24:56.119 --> 00:24:58.359
Yeah, and that was purely because of Friday. I was

403
00:24:58.400 --> 00:25:01.880
down to the week still jump two percent.

404
00:25:01.640 --> 00:25:04.160
On Friday, Yeah, I know, get back half of his losses.

405
00:25:04.160 --> 00:25:04.359
It was.

406
00:25:04.519 --> 00:25:05.640
It was a ridiculous week.

407
00:25:05.759 --> 00:25:07.160
There's a lot of news in the week too, I

408
00:25:07.200 --> 00:25:10.839
mean with Russia and Ukraine, with all the terroffts, every

409
00:25:10.880 --> 00:25:15.319
day something new, and then you have all the inflation

410
00:25:15.480 --> 00:25:16.599
that was lower than expected.

411
00:25:17.039 --> 00:25:19.680
Yeah, the inflation just got drowned out by the tariffs.

412
00:25:19.839 --> 00:25:20.079
Yeah.

413
00:25:20.200 --> 00:25:22.279
Right now, everybody's focused on arists and what is actually

414
00:25:22.279 --> 00:25:24.039
gonna happen. I mean, he wakes up every morning and

415
00:25:24.119 --> 00:25:25.000
with a different idea.

416
00:25:25.200 --> 00:25:27.240
I love the fact that everyone tells you what to

417
00:25:27.279 --> 00:25:30.400
happen with the terrorists, and no one knows. No, nobody knows.

418
00:25:30.599 --> 00:25:33.799
And I think that's the problem is is not the

419
00:25:33.839 --> 00:25:36.920
appro not the terrorists, but the approach that they approached.

420
00:25:37.640 --> 00:25:40.960
Twenty percent today, thirty percent row maybe fifty next week.

421
00:25:41.160 --> 00:25:42.079
Oh maybe none.

422
00:25:42.519 --> 00:25:43.480
That's what we were talking about.

423
00:25:43.519 --> 00:25:46.880
I mean, back with Biden's administration last year, they increased

424
00:25:46.920 --> 00:25:49.519
tariffs on the lumber from Canada. For me, it was

425
00:25:49.559 --> 00:25:51.519
like eight point sixty five percent. They increased at the

426
00:25:51.519 --> 00:25:54.000
fourteen point zero five percent or something like that, more

427
00:25:54.000 --> 00:25:56.759
specific and the scenes, more calculated. And then Trump wakes

428
00:25:56.799 --> 00:25:58.160
up and says that I'm doing fifty percent.

429
00:25:58.240 --> 00:26:05.200
Noxt daylated, except one doesn't say anything. It's quiet. It

430
00:26:05.319 --> 00:26:07.640
just gets there and the press back sit, no big deal.

431
00:26:07.720 --> 00:26:09.920
I get that, But I'm saying they don't use decimals

432
00:26:10.000 --> 00:26:12.200
or anything. He's just using broader numbers. That's what people

433
00:26:12.200 --> 00:26:12.680
don't like.

434
00:26:13.000 --> 00:26:14.920
People wanted to have an idea and the markets are

435
00:26:14.920 --> 00:26:17.039
already overbought, so they're saying, screw it, I'm taking my

436
00:26:17.079 --> 00:26:19.279
profit and waiting till this will be down.

437
00:26:19.440 --> 00:26:22.039
Will be smart. If we know this is going to happen,

438
00:26:22.119 --> 00:26:24.319
the markets go down. That's why we mitigated risks. If

439
00:26:24.319 --> 00:26:26.680
when down to the places we thought were good, we

440
00:26:26.799 --> 00:26:29.960
came out of some of our mitigative risks. Bottom line

441
00:26:30.079 --> 00:26:32.519
is you never heard Biden get up and say he

442
00:26:32.599 --> 00:26:35.079
was going to do anything. Trump tells you what he's

443
00:26:35.119 --> 00:26:37.559
gonna do all the time, and it's different. People don't

444
00:26:37.599 --> 00:26:39.680
know how to do it because they can't think about

445
00:26:39.720 --> 00:26:42.759
what that means. Other Oh, it's going to be more expensive.

446
00:26:43.079 --> 00:26:45.599
Why is he doing it? Everyone knows it's stupid. Well,

447
00:26:45.599 --> 00:26:48.240
of course Canada is going to say it's stupid because

448
00:26:48.279 --> 00:26:50.480
it's going to cost their citizens a lot of money.

449
00:26:50.920 --> 00:26:54.400
And who's going to be able to survive better is us? Now,

450
00:26:54.440 --> 00:26:57.000
I don't like the fact that you have bad relations,

451
00:26:57.359 --> 00:27:00.319
but I don't like the fact that finally someone's trying

452
00:27:00.359 --> 00:27:04.319
to take care of US America and show people how

453
00:27:04.400 --> 00:27:07.319
much it's been costing us before we go broke, is

454
00:27:07.400 --> 00:27:08.640
trying to do something about it.

455
00:27:08.759 --> 00:27:11.200
Yeah, I think the uncertainty is what's bothering the market.

456
00:27:11.240 --> 00:27:13.759
The market hates uncertainty without a doubt, and you never

457
00:27:13.839 --> 00:27:15.079
know from one day to the neck of what he's

458
00:27:15.079 --> 00:27:15.640
going to say.

459
00:27:15.799 --> 00:27:17.039
Yeah, and like I was saying too, I mean, you

460
00:27:17.119 --> 00:27:18.880
got a lot of stock, especially text stocks that were

461
00:27:18.880 --> 00:27:20.400
so overbought.

462
00:27:20.480 --> 00:27:22.519
Yeah, it was only a time and they got nervous.

463
00:27:22.839 --> 00:27:25.599
They're saying, Okay, I'll just take profit off the table

464
00:27:25.640 --> 00:27:26.920
and wait till it settles down.

465
00:27:26.960 --> 00:27:29.039
Other than Friday, it seems like every single time this

466
00:27:29.079 --> 00:27:31.240
week that the market wanted to bounce back higher, Trump

467
00:27:31.279 --> 00:27:32.920
would come out and say the T word. He'd say

468
00:27:32.960 --> 00:27:34.839
something about tariffs and bring it right back down.

469
00:27:35.000 --> 00:27:37.599
Yeah, yeah, okay, okay. But you see, it's because people

470
00:27:37.599 --> 00:27:40.839
don't understand tariffs. They don't understand we've been being charge

471
00:27:40.880 --> 00:27:41.480
this already.

472
00:27:41.559 --> 00:27:41.599
Know.

473
00:27:41.720 --> 00:27:44.000
What we don't understand is the erratic is thera.

474
00:27:44.240 --> 00:27:46.599
It's not erratic. I don't think it's erratic. He's telling

475
00:27:46.599 --> 00:27:48.519
them what he's going to do until they want to do.

476
00:27:48.640 --> 00:27:50.640
How you don't think it's erratic If every day is

477
00:27:50.640 --> 00:27:51.200
a different.

478
00:27:51.000 --> 00:27:54.359
Number, different every day, and it can be different every.

479
00:27:54.319 --> 00:27:57.119
Day on the change the idea that he's putting tariffs

480
00:27:57.160 --> 00:27:58.880
on Canada. It just seems like every day is a

481
00:27:58.880 --> 00:28:01.960
different number, whether it's not, whether it's lower, it's always different.

482
00:28:02.000 --> 00:28:03.519
And that's what people don't like. You have millions of

483
00:28:03.559 --> 00:28:06.279
people invest in our markets that are already skittish because

484
00:28:06.279 --> 00:28:08.240
of a new administration. They're gonna take their money off

485
00:28:08.279 --> 00:28:09.880
the table, and that's why we're seeing a pullback on this.

486
00:28:10.319 --> 00:28:11.319
I'm saying it's.

487
00:28:11.240 --> 00:28:14.279
Right, but some of it's retaliation. Some of it the okay,

488
00:28:14.359 --> 00:28:15.960
so we said we're going to do ten percent and

489
00:28:15.960 --> 00:28:18.480
they say twenty five percent. We're gonna come back and say, fine,

490
00:28:18.519 --> 00:28:19.920
we'll do twenty five persent exactly.

491
00:28:19.960 --> 00:28:21.920
And I mean with Europe, with the EU, we put

492
00:28:22.039 --> 00:28:25.119
twenty five percent tariff on steel and aluminum. So they

493
00:28:25.200 --> 00:28:27.599
turn around and put twenty five percent or fifty percent

494
00:28:27.640 --> 00:28:30.440
on our whiskey. So Trump turns around and puts twenty

495
00:28:30.680 --> 00:28:34.200
two hundred percent on champagne. So that's why we have

496
00:28:34.279 --> 00:28:35.920
those terrors because they put it on whiskey, we put

497
00:28:36.000 --> 00:28:37.400
on stealing aluminum.

498
00:28:37.640 --> 00:28:38.920
But it's all retaliatory too.

499
00:28:38.920 --> 00:28:41.519
But I mean they're saying he's escalating it all and

500
00:28:41.559 --> 00:28:43.079
it's just people get nervous.

501
00:28:43.119 --> 00:28:45.359
I think that you could definitely like classify it as

502
00:28:45.480 --> 00:28:47.519
erratic behavior. But at the same time, I do think

503
00:28:47.559 --> 00:28:49.079
that he knows what he's doing.

504
00:28:49.880 --> 00:28:52.079
Well, he is the art of the deal, right, I mean,

505
00:28:52.119 --> 00:28:54.039
that is the author of art of the deal.

506
00:28:54.119 --> 00:28:56.039
Well, depends on you. Always half the country says yes,

507
00:28:56.119 --> 00:28:57.039
how the country says no.

508
00:28:57.119 --> 00:29:00.960
No, We understand that, we know what his style. Vote

509
00:29:00.960 --> 00:29:04.200
out there and keep hitting them, saying you want to

510
00:29:04.240 --> 00:29:06.079
do this, you keep playing this game. I'm just going

511
00:29:06.079 --> 00:29:08.079
to keep upping it. You're going to be hurt more

512
00:29:08.119 --> 00:29:10.480
than us. That's his game. That's what he was doing.

513
00:29:10.759 --> 00:29:14.240
He's telling Canada, we don't need you, you need us more.

514
00:29:14.640 --> 00:29:17.720
If we're going to survive with our fifty states, we're

515
00:29:17.720 --> 00:29:20.599
going to be better and easier to survive. If we

516
00:29:20.759 --> 00:29:23.240
just had to go ahead and pull on horns and

517
00:29:23.279 --> 00:29:25.680
develop stuff and do stuff, then you will as one

518
00:29:25.680 --> 00:29:26.480
country up there.

519
00:29:26.880 --> 00:29:28.880
Well, I think Dylan hit the nail on the head.

520
00:29:28.880 --> 00:29:31.839
The market was looking for an excuse to correct, and

521
00:29:31.839 --> 00:29:35.319
it found it in the tariffs. That became the excuse

522
00:29:35.519 --> 00:29:37.559
that I'll agree with. Because you don't agree with that,

523
00:29:37.880 --> 00:29:39.680
I will yeah, yeah.

524
00:29:39.440 --> 00:29:41.200
Because I mean you had inflation that came down lower

525
00:29:41.200 --> 00:29:43.880
than expected on both ends, the CPI and the PPI.

526
00:29:43.799 --> 00:29:46.880
Really good inflation numbers this week, and interest rates went up.

527
00:29:48.319 --> 00:29:51.599
Marcus went down, interest rates went up, and all you

528
00:29:51.680 --> 00:29:54.920
kept hearing is that everything's going to be bad. Inflation

529
00:29:55.000 --> 00:29:56.640
is going to be so high. On the next readings

530
00:29:56.839 --> 00:29:59.400
comes in lower and expected. Marcus don't care. It's we're

531
00:29:59.440 --> 00:30:01.200
kind of at that point when you always talk about Davis.

532
00:30:01.200 --> 00:30:02.079
Every news is bad news.

533
00:30:02.119 --> 00:30:05.400
Right now, Oh we got to fed this week, right, Okay,

534
00:30:05.480 --> 00:30:08.759
So we'll find out where they're thinking. What's gonna go happen?

535
00:30:09.079 --> 00:30:11.400
The big news though next week. This week coming up

536
00:30:11.880 --> 00:30:16.720
is the big tech conference and with Navidia, And you know,

537
00:30:16.799 --> 00:30:18.440
if you go back and look at history, every time

538
00:30:18.440 --> 00:30:20.680
they had this conference, it's been very good for Navidia.

539
00:30:21.119 --> 00:30:23.200
I can't believe now they're not even talking about just

540
00:30:23.240 --> 00:30:25.960
a Blackwell chip for Navidia. They're talking about the next

541
00:30:25.960 --> 00:30:28.920
one after that Yeah, that that that's even amazing. So

542
00:30:29.359 --> 00:30:31.880
that just wipes out everything what they were talking about

543
00:30:31.960 --> 00:30:34.960
with deep seek and and everything else, that people are

544
00:30:35.119 --> 00:30:38.119
gonna need these things? How much how I mean to me,

545
00:30:38.279 --> 00:30:41.319
how much far ahead is the vidio then everybody else?

546
00:30:41.400 --> 00:30:43.240
Well, they're still I think, the same amount that they've

547
00:30:43.240 --> 00:30:46.160
been ahead. They're always one chip ahead. But no, sounds

548
00:30:46.200 --> 00:30:48.359
like the two chips ahead. No, because other companies are

549
00:30:48.400 --> 00:30:51.279
catching up the blackwell, which was they were already ahead

550
00:30:51.279 --> 00:30:53.039
of it before, and now they're coming out and videas

551
00:30:53.039 --> 00:30:54.920
already one or two steps ahead of everybody.

552
00:30:55.200 --> 00:30:56.000
And that's what this new.

553
00:30:56.039 --> 00:30:56.200
I think.

554
00:30:56.240 --> 00:30:57.480
It's like bearra or something.

555
00:30:57.480 --> 00:30:59.440
I'm gonna ask you young guys. It's called what are

556
00:30:59.480 --> 00:31:02.920
these going to do? I mean, what how how much

557
00:31:02.960 --> 00:31:05.079
more advance can we get in chips? And what is

558
00:31:05.119 --> 00:31:05.839
it wing to do?

559
00:31:05.960 --> 00:31:07.640
What is I read an article on it is what

560
00:31:07.680 --> 00:31:09.440
this is gonna be able to do? These chips that

561
00:31:09.480 --> 00:31:11.920
are coming out now is gonna make it's the large

562
00:31:12.000 --> 00:31:16.480
language models that make the AI able to think, not

563
00:31:16.640 --> 00:31:20.839
just regurgitate information. It'll have it'll be more like a

564
00:31:20.920 --> 00:31:22.880
intuitive thinking from what I read.

565
00:31:23.440 --> 00:31:25.799
So are we not gonna think as humans? Anymore.

566
00:31:25.920 --> 00:31:28.319
You know, it's just the robots the AI, that's what.

567
00:31:28.480 --> 00:31:31.559
And that's like the next hurdle of AI. The next

568
00:31:31.640 --> 00:31:36.240
level of AI is having these AI bots think for

569
00:31:36.319 --> 00:31:37.359
themselves in a sense.

570
00:31:37.599 --> 00:31:38.680
I don't know to what extent.

571
00:31:38.759 --> 00:31:42.480
I know there's all these regulations on not wanting to

572
00:31:42.559 --> 00:31:45.160
push AI too far because the movies like I Robot,

573
00:31:45.200 --> 00:31:47.759
where they start thinking from themselves and start revolting, which

574
00:31:47.799 --> 00:31:49.559
you've already seen some robots kind of do.

575
00:31:49.640 --> 00:31:51.440
And then these AI bots.

576
00:31:51.160 --> 00:31:53.839
Sometimes like chat GPT, they people put them through the

577
00:31:53.880 --> 00:31:56.440
ringer on these questions and then if they get too much,

578
00:31:56.480 --> 00:31:59.559
so about like going that if the robot, if the

579
00:31:59.680 --> 00:32:02.599
chats goes down that road, it gets shut down, like

580
00:32:02.920 --> 00:32:04.920
the response is stopping it says it has ended.

581
00:32:05.160 --> 00:32:07.799
I think, uh, you know, the law of diminishing returns.

582
00:32:07.799 --> 00:32:09.160
I think that we're going to get to the point

583
00:32:09.200 --> 00:32:12.200
with these chips, like what's the point of getting the

584
00:32:12.200 --> 00:32:14.759
new one? Kind of with an iPhone iPhone sixteen, is

585
00:32:14.759 --> 00:32:16.759
it really much better to get the iPhone seventeen for

586
00:32:17.039 --> 00:32:17.640
the consumer?

587
00:32:18.680 --> 00:32:21.319
I don't agree with that. I think I think we're

588
00:32:21.359 --> 00:32:23.319
far away from that. I mean, and its infancy.

589
00:32:23.759 --> 00:32:27.599
Of course, the quantum currently right now. Of course, the

590
00:32:27.599 --> 00:32:29.599
black Well chips the one that everybody wants to get.

591
00:32:29.799 --> 00:32:32.640
But for a company, smaller business out there, what's the

592
00:32:32.680 --> 00:32:33.400
point of me going, what.

593
00:32:33.359 --> 00:32:34.400
Does a Blackwell chip do?

594
00:32:36.720 --> 00:32:37.640
Just makes it better?

595
00:32:38.440 --> 00:32:40.519
That's my point. None of us know what any of

596
00:32:40.519 --> 00:32:43.559
the people people. It makes things out right fast. I

597
00:32:43.559 --> 00:32:46.079
mean when we started with computers, Dave, we knew with

598
00:32:46.200 --> 00:32:48.559
that punch card, we were going down that to be

599
00:32:48.640 --> 00:32:52.640
able to know they can do this calculation faster than

600
00:32:52.680 --> 00:32:55.160
any human can do it. That's what we knew. They

601
00:32:55.160 --> 00:32:58.279
were calculating that mathematic equations for.

602
00:32:58.359 --> 00:33:01.880
Us being faster. Okay, it's all about being faster. I

603
00:33:01.880 --> 00:33:03.119
think it's being faster.

604
00:33:03.319 --> 00:33:06.359
I think where this is gonna the places it's going

605
00:33:06.400 --> 00:33:10.200
to have the biggest and best positive impact. It's going

606
00:33:10.279 --> 00:33:10.839
to be healthcare.

607
00:33:12.559 --> 00:33:16.160
And what it's gonna help is quantum computing. I'm guessing

608
00:33:16.599 --> 00:33:19.039
as it goes through, as quantum keeps advancing, I mean,

609
00:33:19.160 --> 00:33:21.920
China shows that they're a little bit ahead of us

610
00:33:21.920 --> 00:33:22.839
in quantum computing.

611
00:33:22.960 --> 00:33:23.960
Google came out.

612
00:33:23.960 --> 00:33:26.039
A few months ago with their chip that was their

613
00:33:26.079 --> 00:33:28.720
quantum computing that was like five years ahead of schedule.

614
00:33:29.200 --> 00:33:33.079
There's an article on China's whatever scientists showing that their

615
00:33:33.720 --> 00:33:36.880
quantum computing is about a thousand million times or million

616
00:33:36.880 --> 00:33:39.359
times faster or something like that, much faster, much more

617
00:33:39.359 --> 00:33:41.359
advanced than the US quantum right now.

618
00:33:41.440 --> 00:33:44.599
But will that okay, but will that help a bullet

619
00:33:44.640 --> 00:33:48.319
go faster? Will that help a ship go faster? Will

620
00:33:48.359 --> 00:33:50.400
that help a man run faster? I don't know.

621
00:33:50.640 --> 00:33:52.960
I mean probably a ship go faster. Maybe that.

622
00:33:54.319 --> 00:33:56.799
I mean, cars have all these chips. Now, it's not

623
00:33:56.839 --> 00:33:58.200
gonna help a human run faster.

624
00:33:58.880 --> 00:34:01.839
Well, maybe in the electrical world it'll it'll help in

625
00:34:01.880 --> 00:34:04.279
the in the electric call world.

626
00:34:04.319 --> 00:34:06.599
Got great helps for healthcare, den like you said, that's

627
00:34:06.640 --> 00:34:07.319
where I think it is.

628
00:34:07.400 --> 00:34:08.639
I mean, that's what preventive.

629
00:34:08.840 --> 00:34:11.559
That's why Harry Ellison of Oracle said when Trump first

630
00:34:11.599 --> 00:34:14.719
talked about that five hundred million dollar investment between Oracle

631
00:34:14.719 --> 00:34:18.639
and chat Ebt or open ai and uh soft bank

632
00:34:19.079 --> 00:34:22.320
for the AI moving forward. Yeah, Larry Ellison said, this

633
00:34:22.440 --> 00:34:25.559
AI investment is going to be huge in healthcare.

634
00:34:26.039 --> 00:34:27.800
Just imagine being able to lay on the table and

635
00:34:27.840 --> 00:34:30.000
have a machine scan you and yep, everything's good.

636
00:34:30.199 --> 00:34:31.800
I mean this was months ago too, all right, I'm

637
00:34:31.800 --> 00:34:34.000
sure it's just advancing by the day. Is these AI

638
00:34:34.519 --> 00:34:37.679
models and the AI machines can detect like breast cancer

639
00:34:38.360 --> 00:34:39.679
way before a human can.

640
00:34:39.840 --> 00:34:42.039
And think about all the all the billions of dollars

641
00:34:42.039 --> 00:34:44.440
that these companies pour into R and D into making

642
00:34:44.480 --> 00:34:46.559
a new drug be.

643
00:34:46.599 --> 00:34:48.719
Able to right, they can do it. The AI will

644
00:34:49.480 --> 00:34:53.199
drugs and do things in reaction to the right. Right,

645
00:34:53.639 --> 00:34:55.800
this is how That's where I see that, That's where

646
00:34:55.800 --> 00:34:58.079
I see it going. Well, then that brings us back

647
00:34:58.079 --> 00:35:00.360
to the other part. Then people live longer. How are

648
00:35:00.360 --> 00:35:01.599
we going to afford social security?

649
00:35:01.679 --> 00:35:04.119
There you go there, retiring age will be one hundred.

650
00:35:04.199 --> 00:35:07.079
Yeah, you know what I'm saying. There's gonna be a

651
00:35:07.079 --> 00:35:09.079
lot of things that have to be able to, uh

652
00:35:09.719 --> 00:35:12.679
be realizing change as it goes.

653
00:35:12.920 --> 00:35:16.119
So tired of hearing the clients saying that they're gonna

654
00:35:16.599 --> 00:35:20.039
Trump's gonna cut their social security just so hearing that

655
00:35:20.119 --> 00:35:23.440
for forty years. But I've been hearing that for forty.

656
00:35:23.320 --> 00:35:26.079
No one's cutting social security. Do they have to make

657
00:35:26.159 --> 00:35:29.360
plans to change it over the next twenty to thirty years? Yeah,

658
00:35:29.400 --> 00:35:31.840
so we're not dependent on it, yes, But are they

659
00:35:31.840 --> 00:35:35.239
cutting people's social security? No? And on that note, I'm

660
00:35:35.239 --> 00:35:37.599
going to say, we'll be right back. We can talk

661
00:35:37.639 --> 00:35:41.000
more about it. Your social security is not going to

662
00:35:41.119 --> 00:35:43.880
be cut. If you're getting it right now, We'll be

663
00:35:43.960 --> 00:35:45.960
right back to the Money Matter Show. Thanks for listening.

664
00:35:47.239 --> 00:35:48.960
Welcome back to the Money Matter Show. My name is

665
00:35:48.960 --> 00:35:51.800
Sebastian Borsini. I'm here with Dylan Greenberg, Dean Greenberg, and

666
00:35:51.920 --> 00:35:52.679
David Sherwood.

667
00:35:52.800 --> 00:35:54.199
We're talking about client go aheadeah. No.

668
00:35:54.320 --> 00:35:57.800
Say, we were talking about social security before this, before

669
00:35:57.800 --> 00:35:59.159
the break we had to go to and I mean

670
00:35:59.159 --> 00:36:00.719
we could talk a little bit more about that because

671
00:36:00.760 --> 00:36:04.320
it is becoming a big topic talking about is it

672
00:36:04.400 --> 00:36:06.920
gonna get cut? Is the tax is gonna get cut

673
00:36:06.920 --> 00:36:08.880
on it? That's the positive side of it. You got

674
00:36:08.880 --> 00:36:11.199
other people saying they're gonna cut social Security. It's gonna

675
00:36:11.199 --> 00:36:14.079
go defunk. That's all this stuff. If nothing's done with

676
00:36:14.079 --> 00:36:17.280
Social Security, it is gonna go bankrupt or whatever. In

677
00:36:17.320 --> 00:36:20.119
twenty thirty five, they've been kicking down they can down

678
00:36:20.159 --> 00:36:22.960
the road for decades. You guys have been hearing that

679
00:36:23.039 --> 00:36:24.920
longer than I've been in the business. Yep, that Social

680
00:36:24.920 --> 00:36:26.880
Security is gonna go bankrupt and you're not gonna get

681
00:36:26.880 --> 00:36:29.400
your social security. No administration if they can help. It

682
00:36:29.440 --> 00:36:32.199
will be that administration that has social Security go out.

683
00:36:32.480 --> 00:36:36.079
Now, here's the interesting part about social security, right people,

684
00:36:37.039 --> 00:36:39.239
you know when you hear that, oh, it's a Ponzi scheme,

685
00:36:39.280 --> 00:36:42.280
it's this and that. No, it's not. I want that.

686
00:36:42.480 --> 00:36:46.360
I paid for that social Security. It's our money, Dean, Okay, right,

687
00:36:46.440 --> 00:36:49.119
I hear that all the time. Listen to me. I

688
00:36:49.159 --> 00:36:53.000
want you to listen because everyone, no one has solutions,

689
00:36:53.000 --> 00:36:57.000
They always have complaints. Social Security right now is in

690
00:36:57.039 --> 00:37:00.400
this scenario that we know, if we don't keep raising

691
00:37:00.440 --> 00:37:04.719
the age of retirement age, it's going to go broke.

692
00:37:05.079 --> 00:37:08.119
And it's like basically seven or eight more years. They said,

693
00:37:08.199 --> 00:37:13.119
right now, we are social Security is based on the

694
00:37:13.159 --> 00:37:18.760
workforce that is able to pay for the older generation. Well,

695
00:37:18.800 --> 00:37:22.320
the older generation is living longer and the workforce is

696
00:37:22.320 --> 00:37:26.119
getting smaller. Okay, So what the answer is from people

697
00:37:26.639 --> 00:37:30.199
is why don't we just let social Security just go?

698
00:37:30.440 --> 00:37:33.039
There is no cap on it. And those people that

699
00:37:33.159 --> 00:37:35.880
say that, thinking the cap is like still like one hundred,

700
00:37:35.920 --> 00:37:38.440
one hundred and twenty and don't even realize one hundred

701
00:37:38.440 --> 00:37:40.760
and sixty five thousand, now one hundred and sixty eight

702
00:37:41.039 --> 00:37:44.159
is where you're paying up on your Social Security both

703
00:37:44.199 --> 00:37:50.320
employer and employee. Right, Okay, so that continues to go up,

704
00:37:50.480 --> 00:37:52.119
so that all they want to do is what they

705
00:37:52.119 --> 00:37:54.880
want to tax people more if you're making five hundred

706
00:37:54.880 --> 00:37:57.840
thousand dollars or whatever for what reason to be able

707
00:37:57.840 --> 00:38:01.079
to pay for the other people. And they don't get

708
00:38:01.159 --> 00:38:04.559
that's not a remedy. That is not a fix. What

709
00:38:04.679 --> 00:38:07.199
it is it's like a Ponzi scheme. We're using other

710
00:38:07.199 --> 00:38:09.400
people's money to pay for other people's money. Who put

711
00:38:09.400 --> 00:38:11.519
the money in? So at the end of the day,

712
00:38:12.880 --> 00:38:16.159
what happened to all the money? Where in the constitution

713
00:38:16.360 --> 00:38:20.199
did they say they can borrow the money from all

714
00:38:20.320 --> 00:38:22.480
money that goes into that subsecurity fund?

715
00:38:23.079 --> 00:38:25.320
What wouldn't be in a constitution because it came after.

716
00:38:25.199 --> 00:38:28.920
No kidding day. They always use the constitutional. It's against

717
00:38:28.920 --> 00:38:29.599
the constitution.

718
00:38:29.719 --> 00:38:32.360
I was not meant to be permanent.

719
00:38:32.480 --> 00:38:35.599
It was the depression, right y, Yeah, No, it was

720
00:38:35.719 --> 00:38:36.679
never meant to be permanent.

721
00:38:36.719 --> 00:38:40.960
It was never but it was right solidify people that

722
00:38:41.000 --> 00:38:41.559
are retired.

723
00:38:41.599 --> 00:38:44.400
Yeah, but then they realized they could start borrowing from it. Yes,

724
00:38:44.480 --> 00:38:45.440
and that's what's happened.

725
00:38:45.480 --> 00:38:48.480
And now I can't get an answer on how that

726
00:38:48.559 --> 00:38:52.280
was allowed I owe yous. Well, of course there's no money.

727
00:38:52.280 --> 00:38:54.320
Could you imagine if the money just stayed and they

728
00:38:54.320 --> 00:38:56.480
would never have a problem, no problem, right, and we'd

729
00:38:56.519 --> 00:38:59.039
be getting more. So with that said, how do you

730
00:38:59.159 --> 00:39:02.480
change this? What you change it is over time? So

731
00:39:02.639 --> 00:39:04.800
right now everyone pays about I don't know if the

732
00:39:04.960 --> 00:39:08.199
six point three or six point four percent employee six

733
00:39:08.239 --> 00:39:12.159
point three six point four uh employee. Well maybe for

734
00:39:12.199 --> 00:39:15.599
the people that are ten years out, they reduce it

735
00:39:16.159 --> 00:39:19.320
just one percent and they start putting it in. Then

736
00:39:19.320 --> 00:39:21.119
they reduce it a little bit more off of people

737
00:39:21.159 --> 00:39:22.480
fifteen years, twenty years.

738
00:39:22.360 --> 00:39:24.440
And thirty answer who reduces what?

739
00:39:25.119 --> 00:39:29.079
How much goes into the government social security versus your

740
00:39:29.079 --> 00:39:30.480
own private account? Well?

741
00:39:30.760 --> 00:39:33.360
Yeah, I mean okay, Like they started doing new four

742
00:39:33.440 --> 00:39:35.360
or own ks. They're forcing employees to put in at

743
00:39:35.400 --> 00:39:37.039
least three percent. That's going to go up to ten

744
00:39:37.039 --> 00:39:39.440
percent I think in the next five or ten years.

745
00:39:39.800 --> 00:39:41.920
With four or one K plans that were created brand

746
00:39:41.960 --> 00:39:45.400
new in the last year or two. It's putting people's

747
00:39:45.400 --> 00:39:47.320
retirement in their own hands. Now they're not relying on

748
00:39:47.320 --> 00:39:49.679
the government. This was something I was put in place

749
00:39:49.760 --> 00:39:53.239
last administration, and it's I think it's great, But like

750
00:39:53.239 --> 00:39:56.320
you're saying, you start phasing out Social Security tax, but

751
00:39:56.360 --> 00:39:58.440
then what do you do. You start forcing that six

752
00:39:58.480 --> 00:40:00.719
percent tax that was going in social scuity and you

753
00:40:00.880 --> 00:40:03.559
change that into you take that person six percent and

754
00:40:03.559 --> 00:40:05.119
put it into their forumn case. And now when they

755
00:40:05.199 --> 00:40:07.199
retire they got more money than they ever thought. They

756
00:40:07.199 --> 00:40:09.840
build their own pension. It puts it on the person,

757
00:40:10.119 --> 00:40:10.880
but it has to.

758
00:40:10.840 --> 00:40:14.079
Be reduced to one side increased on the other. But

759
00:40:14.840 --> 00:40:19.119
it's like, now, Dave, anyone that's working, we're being taxed

760
00:40:19.159 --> 00:40:21.480
on us social Security in order to pay get her

761
00:40:21.519 --> 00:40:25.039
own check. We're paying ourselves and it's not even the

762
00:40:25.039 --> 00:40:26.960
same amount of money we're putting into Social Security.

763
00:40:27.039 --> 00:40:28.960
Unfortunately, we're getting back a lot more than we're paying in.

764
00:40:29.079 --> 00:40:29.239
Yeah.

765
00:40:29.320 --> 00:40:32.039
Yes, And then but the argument then goes to what

766
00:40:32.039 --> 00:40:34.000
are you gonna do about the disability and all that stuff?

767
00:40:34.000 --> 00:40:36.280
For people who get on there early because of medicare

768
00:40:36.360 --> 00:40:38.800
they they're disabled. You have to have a different new

769
00:40:38.840 --> 00:40:41.840
fund or something for that. That's the other side argument.

770
00:40:41.599 --> 00:40:44.599
Right, Well, that's a career path in the United States,

771
00:40:45.039 --> 00:40:47.880
trying to get on solf security disability, that's a career.

772
00:40:47.639 --> 00:40:51.519
Path, you know. So, I mean, but that's a whole

773
00:40:51.599 --> 00:40:52.199
other thing to it.

774
00:40:52.239 --> 00:40:54.920
But the broad social security I like the idea putting

775
00:40:54.960 --> 00:40:56.360
into the individual's.

776
00:40:55.800 --> 00:41:00.199
Hand and somebody that's fifteen years old right now not

777
00:41:00.280 --> 00:41:02.239
have to worry about social security. They should be by

778
00:41:02.280 --> 00:41:06.039
the time they're working, putting very little towards social security

779
00:41:06.039 --> 00:41:07.920
for the people that are older and the rest of

780
00:41:07.960 --> 00:41:08.639
it for themselves.

781
00:41:08.719 --> 00:41:09.320
I'm thirty.

782
00:41:09.519 --> 00:41:12.559
I've been told since I was sixteen, you're not counting

783
00:41:12.599 --> 00:41:14.159
on the social security people because of you.

784
00:41:14.159 --> 00:41:17.480
Wait, and they don't count on it, but yet pay

785
00:41:17.559 --> 00:41:20.199
for it right and don't pay for it. That's where

786
00:41:20.239 --> 00:41:22.679
I have the problem. Nobody wants to worry about the

787
00:41:22.760 --> 00:41:25.119
young people, but yet they want to worry.

788
00:41:24.880 --> 00:41:27.960
About because if you're gonna say, if you take your

789
00:41:27.960 --> 00:41:30.239
phase out plan that you're talking about, yeah, that's just

790
00:41:30.280 --> 00:41:32.400
gonna be an uproar, Like what was it for in

791
00:41:32.440 --> 00:41:34.239
France they had an uproar about social security?

792
00:41:34.239 --> 00:41:35.960
Oh no, but you don't phase out the people getting

793
00:41:35.960 --> 00:41:38.280
social security. They don't get in that.

794
00:41:38.159 --> 00:41:40.440
Though, what if I stop paying it?

795
00:41:40.679 --> 00:41:43.360
Because what happens, Dylan, the people and I hate to

796
00:41:43.360 --> 00:41:46.320
say it, David and Iron, there we fall off. You

797
00:41:46.320 --> 00:41:48.760
don't have to pay us anymore. And then there's that

798
00:41:48.880 --> 00:41:50.920
Now there will be a time period maybe it's five

799
00:41:51.000 --> 00:41:53.119
or ten years that the government is going to have

800
00:41:53.159 --> 00:41:56.000
to subsidize. Well, I'd rather see two hundred and three

801
00:41:56.079 --> 00:41:59.639
hundred billion dollars from the government subsidizing the people so

802
00:41:59.679 --> 00:42:02.840
we don't have to get use social security anymore. Then

803
00:42:02.880 --> 00:42:05.440
going ahead and paying to tevy one in the world seems.

804
00:42:05.119 --> 00:42:07.079
More sustainable if you put it into the people's hands.

805
00:42:07.119 --> 00:42:09.480
I don't know exactly, and they can't use it.

806
00:42:08.840 --> 00:42:11.360
It's got to be waiting till the sixty five year.

807
00:42:11.360 --> 00:42:13.760
It's a retirement plan, right, but it's your personal one,

808
00:42:13.840 --> 00:42:15.360
so you can put more into it if you want.

809
00:42:15.400 --> 00:42:17.119
You can put you just can't put less.

810
00:42:17.159 --> 00:42:18.960
And it can be and it's gonna be in like

811
00:42:19.039 --> 00:42:21.679
it's probably the most it can be if you're young,

812
00:42:21.800 --> 00:42:25.599
fifty to fifty bonds and indexes, and then as you

813
00:42:25.639 --> 00:42:27.920
get older, eighty twenties the most you can be eighty

814
00:42:27.960 --> 00:42:30.719
bonds said, and guess what happens there, Well, buying our

815
00:42:30.760 --> 00:42:32.920
own bonds. We don't need China to buy a bonds.

816
00:42:33.280 --> 00:42:37.280
We have become self sufficient and self sustainable on keeping

817
00:42:37.320 --> 00:42:40.159
interests low, interest rates low to be able to take

818
00:42:40.199 --> 00:42:44.039
care of our own debt? Oh, what's wrong with that? Yeah.

819
00:42:44.079 --> 00:42:47.960
I probably have had fifteen people in the last three

820
00:42:48.000 --> 00:42:50.480
weeks say that Trump's gonna what about Trump cutting our

821
00:42:50.519 --> 00:42:51.360
social security?

822
00:42:51.519 --> 00:42:53.159
So the Life has done a good job.

823
00:42:53.000 --> 00:42:55.840
Of did they cut out that word cut taxes on it?

824
00:42:55.920 --> 00:42:56.079
Yeah?

825
00:42:56.119 --> 00:42:58.840
No, No, nobody's talking about cutting self security.

826
00:42:58.920 --> 00:42:59.280
Nobody.

827
00:42:59.280 --> 00:43:01.599
I've got a client who said her next door neighbor

828
00:43:01.760 --> 00:43:04.800
was so freaked out about it that she actually went

829
00:43:04.840 --> 00:43:08.840
to her doctor to see if there's something he could

830
00:43:08.880 --> 00:43:11.559
give her, and he took out his prescription pad. After

831
00:43:11.599 --> 00:43:13.920
the exam, he took out his prescription pad and he

832
00:43:14.000 --> 00:43:17.840
wrote down, turn off TV. That's a true Yeah, that's

833
00:43:17.840 --> 00:43:18.519
true story.

834
00:43:19.960 --> 00:43:23.880
Here's what they don't realize. It's happened. It happened in France,

835
00:43:23.920 --> 00:43:27.280
it happened in Greece, it happened in Spain. They had

836
00:43:27.320 --> 00:43:31.360
to cut people so retirement plans because they went out

837
00:43:31.360 --> 00:43:31.719
of money.

838
00:43:31.800 --> 00:43:34.199
Corporate retirement plans, yeah, not government retirement plans.

839
00:43:34.280 --> 00:43:35.880
Oh no, no, the pension plans.

840
00:43:35.960 --> 00:43:39.880
Say the cut France was they voted, they had they

841
00:43:39.880 --> 00:43:42.559
had to increase the retirement age like two or three

842
00:43:42.599 --> 00:43:43.719
years because they ran out.

843
00:43:43.960 --> 00:43:45.840
Yeah, and I get that.

844
00:43:45.920 --> 00:43:47.880
And now if I'm sixty four, I'm not going to

845
00:43:47.920 --> 00:43:49.920
want to hear about retire and age quickly going to

846
00:43:49.920 --> 00:43:53.599
see huge up francis a huge by you know, a

847
00:43:53.679 --> 00:43:55.599
fraction of the population. Nobody else would care.

848
00:43:55.679 --> 00:43:58.440
Well, that's what happens in the socialida. They they get

849
00:43:58.480 --> 00:44:00.920
this money to retire. You work four days a week

850
00:44:00.960 --> 00:44:04.119
maybe anyway, and they have two hour lunches. But but

851
00:44:04.119 --> 00:44:06.960
but they have but greed Greece went through it and all. Hey,

852
00:44:07.239 --> 00:44:10.280
people don't realize it happened in our country in two

853
00:44:10.360 --> 00:44:12.719
thousand and one and two thousand and eight. If you

854
00:44:12.760 --> 00:44:15.880
were in the state retirement plans, you had to put

855
00:44:15.960 --> 00:44:19.280
more money into those state replimate plans, if you were

856
00:44:19.320 --> 00:44:21.719
working to keep them funded so they can pay the

857
00:44:21.760 --> 00:44:25.119
people that are already retired. Then of course, once it

858
00:44:25.159 --> 00:44:26.960
got fully funded, they were able to reduce that.

859
00:44:27.039 --> 00:44:30.719
Again, this is I guess small small social security.

860
00:44:30.920 --> 00:44:33.320
Yeah right, but that's what happens. Yeah.

861
00:44:33.360 --> 00:44:35.760
Wait, but going back, Dean, I agreed with what you said.

862
00:44:35.800 --> 00:44:37.400
I just don't understand why would you want to put

863
00:44:37.400 --> 00:44:39.719
a limit onto how much equities you could be invested

864
00:44:39.719 --> 00:44:40.880
in if it's in our hands.

865
00:44:40.960 --> 00:44:42.559
No, because it won't not be in your hands, and

866
00:44:42.599 --> 00:44:44.239
people would do the wrong thing. They're blow it up.

867
00:44:44.559 --> 00:44:47.039
They're blown upsers to this world.

868
00:44:47.119 --> 00:44:48.719
No no, no, no, no no, you'll blow it up.

869
00:44:48.719 --> 00:44:51.440
Everybody's gonna be in bitcoin right enough. People don't know

870
00:44:51.519 --> 00:44:55.760
enough about people. You got indexes, and you got and

871
00:44:55.800 --> 00:44:58.400
you got bonds, okay, and that's what and that's what

872
00:44:58.440 --> 00:44:59.920
you get to do. Period.

873
00:45:00.320 --> 00:45:03.360
Be careful, be careful with this market. Big rally on Friday, Dean,

874
00:45:03.400 --> 00:45:05.000
I think it was a short covering rally. I think

875
00:45:05.000 --> 00:45:07.079
you and I both agree that was. I don't think

876
00:45:07.079 --> 00:45:08.440
we've seen the bottom.

877
00:45:09.000 --> 00:45:11.519
Oh I don't know. Yeah, I don't know. It was shortcut.

878
00:45:11.559 --> 00:45:13.760
Probably part of it was short covering. I think we

879
00:45:13.840 --> 00:45:16.559
hit fifty five hundred now technically was a good place

880
00:45:16.559 --> 00:45:19.320
to go in and over sold, okay, and then the

881
00:45:19.360 --> 00:45:21.559
market started buying it. And then when we broke out,

882
00:45:22.000 --> 00:45:24.639
also on a technical basis, fifty six hundred and stayed

883
00:45:24.639 --> 00:45:26.559
over it. Then the buying came in at late in

884
00:45:26.599 --> 00:45:29.239
the day. Well that hold. I don't know. I mean,

885
00:45:29.239 --> 00:45:31.920
you know, there's going to be pressure immediately next week

886
00:45:31.960 --> 00:45:33.880
to try to take it down. But if it bounces

887
00:45:33.920 --> 00:45:36.280
and goes higher, I think you're looking at fifty eight

888
00:45:37.000 --> 00:45:40.079
fifty seven hundred to fifty eight hundred, fifty seven fifty

889
00:45:40.079 --> 00:45:40.920
to fifty eight hundred.

890
00:45:41.639 --> 00:45:43.559
Maybefty seven is going to be tough because that's the

891
00:45:43.559 --> 00:45:44.920
Turner day movie average, right.

892
00:45:44.960 --> 00:45:47.039
But if we break through that, we break through that,

893
00:45:47.119 --> 00:45:48.639
I think we can get to that fifty eight to

894
00:45:48.679 --> 00:45:51.239
fifty nine hundred. I don't think fifty nine I could.

895
00:45:51.280 --> 00:45:53.280
If we got to fifty nine hundred day, i'd be

896
00:45:53.400 --> 00:45:54.760
I would be hedging on a council.

897
00:45:55.199 --> 00:45:58.239
I think I think we'd probably retest those lows from

898
00:45:58.360 --> 00:46:00.199
from Thursday.

899
00:45:59.760 --> 00:46:03.159
Before we go higher from where we are now. That'd

900
00:46:03.199 --> 00:46:05.480
be my gues. I don't know. Just have one day up.

901
00:46:05.519 --> 00:46:06.639
I mean, if you know he's.

902
00:46:06.480 --> 00:46:07.760
Had one day up and I think, I think what,

903
00:46:07.960 --> 00:46:10.639
I don't think we've hit the bottom. I think that, Oh,

904
00:46:10.679 --> 00:46:11.679
I don't think we hit the bottom.

905
00:46:11.719 --> 00:46:13.800
I think our bottom is fifty two hundred to forty

906
00:46:13.800 --> 00:46:16.400
eight hundred on the S and P once we break there.

907
00:46:16.400 --> 00:46:17.920
But I think we have a little bit more here

908
00:46:19.320 --> 00:46:21.760
and then come April when we go back to the

909
00:46:21.800 --> 00:46:26.039
TA word again. Uh, doing all those those on April second,

910
00:46:26.320 --> 00:46:29.440
all the tariffs, I think that creates a lot of hostile.

911
00:46:29.199 --> 00:46:31.159
I don't know I haven't had a day without tariffs.

912
00:46:31.199 --> 00:46:32.639
Has there been a day without tariffs?

913
00:46:32.679 --> 00:46:33.079
Friday?

914
00:46:33.800 --> 00:46:35.800
Friday was a day you didn't talk about tariffs since

915
00:46:35.960 --> 00:46:38.519
the market can round. Be careful here, this is not

916
00:46:38.599 --> 00:46:40.920
a jump jump in, you know. And we had a

917
00:46:41.000 --> 00:46:43.719
call from a client. He said, now Trump's president, I

918
00:46:43.719 --> 00:46:46.119
want to get more aggressive. And we talked him out

919
00:46:46.119 --> 00:46:49.360
of it. And then he called or probably what a

920
00:46:49.400 --> 00:46:52.760
week ago, and said, I think I'm too aggressive. Same guy,

921
00:46:52.960 --> 00:46:53.800
Same exact guy.

922
00:46:53.960 --> 00:46:55.079
So don't make a change.

923
00:46:55.119 --> 00:46:58.079
Don't be jumping around like this. Don't be jumping around

924
00:46:58.119 --> 00:47:00.840
like that. That's not the way to week. You don't

925
00:47:00.840 --> 00:47:02.719
go all in, you don't go all out. I'm telling

926
00:47:02.760 --> 00:47:05.119
you learn how to mitigate risk. You know how to

927
00:47:05.159 --> 00:47:07.679
mitigate risks as many different ways to do it. You

928
00:47:07.719 --> 00:47:10.039
can buy in verse funds, you can sell calls, you

929
00:47:10.039 --> 00:47:12.760
can buy insurance puts, you can sell stuff, you can

930
00:47:12.880 --> 00:47:15.280
raise cash. There's a lot of ways to do it.

931
00:47:15.519 --> 00:47:17.559
Learn how to do it. We'll be right back. This

932
00:47:17.639 --> 00:47:20.719
is the Money Matters Show. We appreciate so much that

933
00:47:20.800 --> 00:47:21.239
you listen.

934
00:47:22.119 --> 00:47:24.599
Welcome back to the second hour of the Money Matters Show.

935
00:47:25.079 --> 00:47:28.840
Doing Greenberg here with Dave Sherwood Sebastian Borsini, Dan Greenberg,

936
00:47:29.079 --> 00:47:30.920
and Toglick is on his way to California to have

937
00:47:30.960 --> 00:47:33.239
fun with his family. Yeah, for those of you just

938
00:47:33.239 --> 00:47:36.639
tuning in, it was a pretty down week again just

939
00:47:36.679 --> 00:47:38.360
like the previous week, but we did have a big

940
00:47:38.440 --> 00:47:40.519
rally on Friday to cut that in half. The Dow

941
00:47:40.599 --> 00:47:42.320
was down three point one percent for the week, The

942
00:47:42.400 --> 00:47:45.079
SMP five hundred was down two point three percent, the

943
00:47:45.159 --> 00:47:47.320
Nasdaq was down two point four percent, the Russell two

944
00:47:47.320 --> 00:47:49.519
thousand was down a percent and a half, and the

945
00:47:49.519 --> 00:47:52.000
equal weight to SMP five hundred was down two point

946
00:47:52.039 --> 00:47:55.679
three percent. Bringing the year to date returns. The Dow

947
00:47:55.960 --> 00:47:58.079
is down two point five percent, this MP is down

948
00:47:58.119 --> 00:48:01.440
four point one percent. Now Deck, which is tech heavy,

949
00:48:01.599 --> 00:48:04.559
is down eight point one percent, small Cap two thousand

950
00:48:04.880 --> 00:48:07.119
is down eight point two percent, an equal weight to

951
00:48:07.280 --> 00:48:09.360
SMP is only down one point four percent, so it's

952
00:48:09.360 --> 00:48:10.000
down the least.

953
00:48:10.199 --> 00:48:12.760
It was a market as a whole, not down so much.

954
00:48:12.960 --> 00:48:14.199
Yeah, that's the overall market.

955
00:48:14.320 --> 00:48:17.400
So it's the tech companies that were riding the coattails

956
00:48:17.400 --> 00:48:20.039
on the way up the last couple of years. We're

957
00:48:20.119 --> 00:48:22.079
now the ones tanking it. But the equal weight it

958
00:48:22.119 --> 00:48:23.480
is shown to be a little more stable.

959
00:48:23.559 --> 00:48:24.880
Well, I thought it was interesting that the S and

960
00:48:24.960 --> 00:48:27.320
P five hundred and RSP this week both lost that

961
00:48:27.400 --> 00:48:29.519
same two point three percent. And I think that had

962
00:48:29.519 --> 00:48:31.159
to do with the fact that the doll kind of

963
00:48:31.159 --> 00:48:32.079
took a beating this week.

964
00:48:32.320 --> 00:48:32.480
Doll.

965
00:48:32.599 --> 00:48:33.880
Yeah, the dollstacks took a beat.

966
00:48:34.000 --> 00:48:35.599
I was down the most, that's for sure.

967
00:48:35.679 --> 00:48:39.119
You know, it's what's happening is is the the first

968
00:48:39.159 --> 00:48:41.960
of all, I think the headline of the week obviously

969
00:48:42.079 --> 00:48:43.840
was the market. But here in Tucson, I think rain

970
00:48:43.920 --> 00:48:45.119
probably got number two.

971
00:48:45.199 --> 00:48:46.920
Right there we go, there's the weather day of two

972
00:48:47.000 --> 00:48:47.719
days of rain.

973
00:48:47.679 --> 00:48:48.639
Man, two days of rain.

974
00:48:48.880 --> 00:48:53.079
Yeah, Yuma had a two hundred consecutive day without rain. Two.

975
00:48:54.000 --> 00:48:54.199
Well.

976
00:48:54.320 --> 00:48:57.000
I grew up in rural South Dakota, and I remember

977
00:48:57.000 --> 00:48:58.960
as a kid my dad was a lawyer in this

978
00:48:59.079 --> 00:48:59.559
small town.

979
00:48:59.599 --> 00:49:00.519
He was lawyer.

980
00:49:00.920 --> 00:49:03.480
And whether we ate or not, well that's probably a

981
00:49:03.519 --> 00:49:07.400
little strong. How we lived was all about the weather,

982
00:49:07.480 --> 00:49:09.639
dependent on whether if the crops. If the weather was

983
00:49:09.679 --> 00:49:11.880
good and the crops came in, good, Dad would get paid.

984
00:49:12.400 --> 00:49:14.719
If the weather was bad and the crops didn't come in,

985
00:49:14.800 --> 00:49:17.400
he wouldn't get paid. So as a young man, I

986
00:49:17.719 --> 00:49:20.000
I kind of took that to heart and I said, boy,

987
00:49:20.119 --> 00:49:22.760
I want to I want to whatever I do for

988
00:49:22.800 --> 00:49:26.119
a career, I don't want it to have to be

989
00:49:26.199 --> 00:49:27.639
impacted by outside forces.

990
00:49:28.079 --> 00:49:29.039
How'd that work out for me?

991
00:49:29.119 --> 00:49:32.519
Yeah, I was gonna say, how did.

992
00:49:32.440 --> 00:49:33.039
That work out for it?

993
00:49:33.159 --> 00:49:35.199
Still pretty dependent on the outside force.

994
00:49:34.960 --> 00:49:35.719
Totally, totally.

995
00:49:35.760 --> 00:49:38.360
And you know, the big thing that's happening here is

996
00:49:38.400 --> 00:49:42.480
that the terrafts are creating uncertainty. Uncertainty causes businesses to

997
00:49:42.519 --> 00:49:47.960
slow expansion plans. It causes customers to slow purchase plans.

998
00:49:49.360 --> 00:49:52.440
You might delay the remodel on your house, you might

999
00:49:52.480 --> 00:49:55.519
delay that. Addition, I've got a friend that works in

1000
00:49:55.559 --> 00:49:58.800
the furniture business had a ten thousand dollars order for

1001
00:49:59.440 --> 00:50:03.000
a house and got a call and said, I can't

1002
00:50:03.199 --> 00:50:05.360
go ahead now with this stock market the way it is.

1003
00:50:05.400 --> 00:50:08.360
Literally blamed it on the stock market, canceled the order,

1004
00:50:08.719 --> 00:50:11.960
and that happening all over the country. And what the

1005
00:50:12.039 --> 00:50:15.679
market is trying to determine is how much is the

1006
00:50:15.760 --> 00:50:17.079
economy slowing down?

1007
00:50:17.440 --> 00:50:19.079
Now? The negative people will say.

1008
00:50:18.880 --> 00:50:21.880
Wow, we're going we're going to into recession, and others

1009
00:50:21.920 --> 00:50:24.960
will say, now it's an opportunity to buy, so that's

1010
00:50:25.000 --> 00:50:27.559
what that's the uncertainty. What we're trying to figure out

1011
00:50:27.559 --> 00:50:29.719
here is just how much down we go. Just give

1012
00:50:29.719 --> 00:50:35.079
you an example consumer related stocks, Costco, American Express, Starbucks.

1013
00:50:35.079 --> 00:50:37.360
Pretty wide variety there, right, I mean, but that's all

1014
00:50:37.400 --> 00:50:42.480
consumer all down twenty percent. Twenty percent, that's pretty good hit.

1015
00:50:42.559 --> 00:50:44.719
I mean, I don't remember that there's been years since

1016
00:50:44.800 --> 00:50:46.400
Costco has dropped twenty percent.

1017
00:50:46.159 --> 00:50:47.880
Since Yeah, but I mean if you go to Costco

1018
00:50:47.920 --> 00:50:50.079
on a Sunday, it's like nothing what you wouldn't even.

1019
00:50:49.960 --> 00:50:50.840
Know it's a mob scene.

1020
00:50:50.880 --> 00:50:54.360
So yeah, yeah, So again, the market is trying to predict.

1021
00:50:54.760 --> 00:50:57.079
Market is trying to predict the future, and what they're

1022
00:50:57.159 --> 00:50:58.679
what they're saying is well, there's going to be a

1023
00:50:58.679 --> 00:51:01.880
slowing in the economy, and how much is it going

1024
00:51:01.960 --> 00:51:02.239
to slow?

1025
00:51:02.280 --> 00:51:03.920
And I think that might have overshot.

1026
00:51:05.199 --> 00:51:07.519
I've been noticed a long time, and when I see

1027
00:51:07.760 --> 00:51:11.000
a bounce like Friday out of nowhere. It would have

1028
00:51:11.000 --> 00:51:13.760
been nice to see Friday open down about two hundred

1029
00:51:13.800 --> 00:51:16.480
points and then come back to close up seven hundred.

1030
00:51:16.719 --> 00:51:19.760
That would have been really nice. It just doesn't feel

1031
00:51:19.800 --> 00:51:20.599
like a bottom to me.

1032
00:51:20.719 --> 00:51:22.440
Well, it's like that the investors finally look at the

1033
00:51:22.480 --> 00:51:26.440
inflation data and then decided to buy on Friday because

1034
00:51:26.440 --> 00:51:29.039
inflation came down loaded and expected in both ways during

1035
00:51:29.119 --> 00:51:30.920
last week and it was just blown off to the

1036
00:51:30.960 --> 00:51:32.960
side because of tariffs all those news.

1037
00:51:33.039 --> 00:51:35.239
Yeah. So, I mean how many how many?

1038
00:51:35.480 --> 00:51:37.760
How many people have called within the past two weeks

1039
00:51:37.800 --> 00:51:41.800
fashion about gaining online access to their accounts so they

1040
00:51:41.840 --> 00:51:42.880
can punish themselves.

1041
00:51:43.000 --> 00:51:43.760
I'd say a lot.

1042
00:51:43.880 --> 00:51:46.039
I mean, what I got to call it. I got

1043
00:51:46.079 --> 00:51:47.320
to call it a day for a guy has looked

1044
00:51:47.360 --> 00:51:49.360
at it. I'm looked at this in six months. I

1045
00:51:49.360 --> 00:51:51.519
figured I better shot Why.

1046
00:51:51.440 --> 00:51:53.599
Well, you didn't why to look? You didn't want to

1047
00:51:53.599 --> 00:51:55.559
look last year when your account was up eighteen per

1048
00:51:55.840 --> 00:51:56.320
six months.

1049
00:51:56.320 --> 00:51:57.519
He hasn't looked at it in six months.

1050
00:51:57.559 --> 00:51:59.960
He's out. He's a busy guy. I mean he's retired,

1051
00:52:00.039 --> 00:52:02.880
but he's very active. He didn't care, but he decided

1052
00:52:02.920 --> 00:52:03.559
he's gonna look.

1053
00:52:03.599 --> 00:52:04.840
Now. Why why?

1054
00:52:04.920 --> 00:52:07.840
I have a friend who's a client and always text

1055
00:52:07.840 --> 00:52:09.199
me when the markets are down. If the markets are

1056
00:52:09.199 --> 00:52:10.719
down over one percent, I'll get a text right in

1057
00:52:10.760 --> 00:52:13.039
the morning. And then on Friday the markets are up

1058
00:52:13.039 --> 00:52:15.760
two percent, no text. I text him in the afternoon.

1059
00:52:16.079 --> 00:52:17.559
I said, hey, man, the markets are up two percent.

1060
00:52:17.559 --> 00:52:18.039
Did you see that?

1061
00:52:18.159 --> 00:52:18.599
You see that?

1062
00:52:18.719 --> 00:52:20.159
He's like, I look every day, but I only text

1063
00:52:20.159 --> 00:52:21.559
you on the bad days. I was like, all right,

1064
00:52:21.559 --> 00:52:22.079
I appreciate that.

1065
00:52:22.119 --> 00:52:23.760
Yeah, I've noticed, right, I've noticed.

1066
00:52:23.960 --> 00:52:25.760
Yeah, He's like, you're sick of me.

1067
00:52:25.840 --> 00:52:27.840
Yet to your treasury.

1068
00:52:27.559 --> 00:52:30.119
Got below for you last week, back up four point

1069
00:52:30.199 --> 00:52:33.960
oh two this week, despite those inflation numbers, which are

1070
00:52:33.960 --> 00:52:39.199
outstanding because what they're seeing is teriffs creating higher prices.

1071
00:52:39.239 --> 00:52:43.360
That that's that that thesis is is getting legs.

1072
00:52:42.960 --> 00:52:44.400
In the intermediate term though.

1073
00:52:44.320 --> 00:52:47.360
Yeah, right, yeah, And so.

1074
00:52:46.719 --> 00:52:49.159
Going back to your farmer talk, I think that farmer's

1075
00:52:49.280 --> 00:52:51.639
kind of taking a direct hit on these terraces right now.

1076
00:52:51.880 --> 00:52:53.599
I don't know if you saw, but China, which is

1077
00:52:53.599 --> 00:52:59.400
the largest largest market for chicken, wheat, corn, soybeans, pork, beef,

1078
00:52:59.519 --> 00:53:02.199
and free roots from the United States of America, they're

1079
00:53:02.199 --> 00:53:04.559
all going to get tax or tearf ten percent. So

1080
00:53:05.159 --> 00:53:07.519
that's kind of taking a hit on those farmers currently.

1081
00:53:07.599 --> 00:53:11.119
Yeah, it's amazing how many soybeans China buys FRUS it's

1082
00:53:11.159 --> 00:53:13.880
a huge that's probably the biggest of all those.

1083
00:53:13.719 --> 00:53:16.880
You mentioned soybeans were where do we even do the soybeans.

1084
00:53:16.880 --> 00:53:17.280
I don't know.

1085
00:53:17.360 --> 00:53:19.519
I don't need Chinese food much, but there must be

1086
00:53:19.599 --> 00:53:23.360
some soy bean, some heavy soybeans and Chinese foods. Right

1087
00:53:24.440 --> 00:53:27.199
next week we have the FED decision. Interesting, speaking of China,

1088
00:53:27.800 --> 00:53:31.039
Chinese market up two percent this week, up now up

1089
00:53:31.079 --> 00:53:34.480
twenty three percent this year with our market down five.

1090
00:53:34.760 --> 00:53:37.000
Wow, So how's that for crazy?

1091
00:53:37.079 --> 00:53:39.760
How did China's market end last year? I forgot I

1092
00:53:39.800 --> 00:53:40.519
think it was down right?

1093
00:53:40.559 --> 00:53:41.000
It was horrible.

1094
00:53:41.079 --> 00:53:43.079
Yeah, no, they've been They've been horrible for two years

1095
00:53:43.119 --> 00:53:44.039
while we've been kicking it.

1096
00:53:44.159 --> 00:53:44.360
Yeah.

1097
00:53:44.400 --> 00:53:46.440
So it's an economic cycle, like when Dad was talking

1098
00:53:46.480 --> 00:53:50.880
about in his monologue. Yeah, economic cycles, they happen. It's

1099
00:53:50.880 --> 00:53:53.719
not doesn't have to do with one specific event like

1100
00:53:53.719 --> 00:53:56.480
we're talking about though. Terrorist mighta kickstarted a little selling

1101
00:53:56.920 --> 00:53:59.800
frenzy right now because they're fragile because of how over

1102
00:54:00.199 --> 00:54:03.719
they were. But what effect won't One thing will not

1103
00:54:03.800 --> 00:54:05.920
affect the market as much as people think.

1104
00:54:05.960 --> 00:54:07.880
And if you're sitting here looking at your portfolio and

1105
00:54:07.920 --> 00:54:12.599
wondering why you're not participating in the international exposure through China,

1106
00:54:12.679 --> 00:54:14.840
it's because we can't trust the numbers, right, I mean.

1107
00:54:14.840 --> 00:54:16.559
The last five years, that's COVID.

1108
00:54:16.840 --> 00:54:19.440
The last five years, China has been so unpredictable and

1109
00:54:19.519 --> 00:54:23.760
unreliable on what they report, right, what actually is happening there,

1110
00:54:23.760 --> 00:54:26.119
what's going on? And it's I mean, we owned win

1111
00:54:26.199 --> 00:54:29.239
as a firm for years yep, because that's an American

1112
00:54:29.280 --> 00:54:32.800
company that had a huge casino in Macau, which they

1113
00:54:32.840 --> 00:54:34.840
had this whole deal where no new casino could be

1114
00:54:35.639 --> 00:54:37.800
built in Macau for ten years. So they've pretty much

1115
00:54:37.800 --> 00:54:40.679
had a stronghold between them and in like five other casinos.

1116
00:54:40.880 --> 00:54:44.320
So we're thinking that's a good strategic Bye got hammered

1117
00:54:44.360 --> 00:54:47.440
because of the every day wake up like Trump wakes

1118
00:54:47.480 --> 00:54:50.079
up and says different tariff numbers, China wakes up and says,

1119
00:54:50.239 --> 00:54:52.599
oh you're closed Macaw. Oh your open Macaw. Oh you're

1120
00:54:52.599 --> 00:54:55.639
closed China. Oh you're open China. For five years, so

1121
00:54:55.800 --> 00:54:58.199
we finally got positive a bit and we just sold.

1122
00:54:58.320 --> 00:55:00.679
And if you look at that's an American company in China.

1123
00:55:00.719 --> 00:55:02.719
And if you look at the long history through the

1124
00:55:02.800 --> 00:55:06.360
numbers of United States saying domestic ore going international to China,

1125
00:55:06.760 --> 00:55:08.880
United States dominates every single time.

1126
00:55:09.440 --> 00:55:11.360
You do have to be wary of companies that have

1127
00:55:11.519 --> 00:55:14.239
big exposure to China, like Starbucks and Apple. I mean,

1128
00:55:14.280 --> 00:55:16.679
like the Chinese government doesn't allow Apple phones any more,

1129
00:55:16.719 --> 00:55:18.519
so that hit Apple hard last year, even though Apple

1130
00:55:18.760 --> 00:55:21.480
still had a good year. But it's exposure there. I mean,

1131
00:55:21.639 --> 00:55:24.119
Starbucks is huge there. Technology is huge there.

1132
00:55:24.159 --> 00:55:26.039
And you're saying, yeah, be weary of it. But let's

1133
00:55:26.400 --> 00:55:29.199
go back and say, Okay, you want some exposure to China. Yeah,

1134
00:55:29.280 --> 00:55:31.639
let's get it out of a United States based company

1135
00:55:31.679 --> 00:55:32.400
like Starbucks.

1136
00:55:32.880 --> 00:55:33.880
Right, you can do that.

1137
00:55:35.000 --> 00:55:36.519
I didn't like it. Were like I was talking about

1138
00:55:36.519 --> 00:55:37.599
when I don't like it.

1139
00:55:37.679 --> 00:55:38.599
Right, Yeah, We've.

1140
00:55:38.440 --> 00:55:40.400
Got so many companies in the US. We know the US,

1141
00:55:40.480 --> 00:55:41.599
we know at least what's going on.

1142
00:55:41.679 --> 00:55:42.840
We're more transparent.

1143
00:55:43.159 --> 00:55:45.400
So that's why, like US as a firm has been

1144
00:55:45.880 --> 00:55:48.840
more outside of stand away from China for the last

1145
00:55:48.840 --> 00:55:51.159
few years. Maybe one day we'll get back in, but

1146
00:55:51.159 --> 00:55:53.400
we're not in a rush. There's so many other opportunities

1147
00:55:53.480 --> 00:55:54.280
in the vesting world.

1148
00:55:54.480 --> 00:55:57.880
Mm hmm, there are there are so oil. Oil is

1149
00:55:57.920 --> 00:56:00.280
up twenty five cents on the week. Sixty seven quarter,

1150
00:56:00.519 --> 00:56:03.039
gold got above three thousand for the first time in history,

1151
00:56:03.199 --> 00:56:06.320
closed to twenty nine to ninety, up eighty six dollars

1152
00:56:06.360 --> 00:56:09.360
on the week, but gold above three thousand, So just

1153
00:56:09.800 --> 00:56:13.519
keeps going regardless of what's going on with Bitcoin down

1154
00:56:13.559 --> 00:56:15.800
three percent, So it doesn't matter what bitcoin is doing,

1155
00:56:15.880 --> 00:56:18.039
or what the market's doing, or what the economy is doing,

1156
00:56:18.159 --> 00:56:19.599
or tariffts or anything.

1157
00:56:19.639 --> 00:56:21.039
Gold just keeps on keeping on.

1158
00:56:21.280 --> 00:56:25.000
Todd sent me an old message that back when we

1159
00:56:25.000 --> 00:56:26.679
were in college, we were still in the market, we

1160
00:56:26.679 --> 00:56:28.400
were looking at the markets, we were studying to be

1161
00:56:28.920 --> 00:56:31.960
participating in markets in the future. And this was five

1162
00:56:32.039 --> 00:56:34.480
years ago. He sends me an article gold burst above

1163
00:56:34.519 --> 00:56:38.960
seventeen hundred dollars with market Mayhem's stoking Haven demand five

1164
00:56:39.039 --> 00:56:41.719
years five years ago. Seventeen hundred Wow, like cool.

1165
00:56:42.280 --> 00:56:42.880
So that's up.

1166
00:56:42.920 --> 00:56:46.039
That's up fifty percent, right, that's up about well, not

1167
00:56:46.119 --> 00:56:49.480
even fifty percent up about what's that well, seventeen hundred

1168
00:56:49.519 --> 00:56:51.679
fifty it's up thirteen steps, like seventy percent.

1169
00:56:51.800 --> 00:56:54.920
Yeah, pretty good, that's pretty good. Yeah. I know who's

1170
00:56:54.960 --> 00:56:56.559
buying gold. I don't. I don't.

1171
00:56:56.840 --> 00:56:59.800
It's some country. There are rabonhood, there are country. There

1172
00:56:59.800 --> 00:57:02.760
is a country or countries that are buying it.

1173
00:57:02.880 --> 00:57:04.880
Speaking of our theory of that was bricks.

1174
00:57:04.920 --> 00:57:07.639
Countries are buying a bunch of gold trying to devalue

1175
00:57:07.639 --> 00:57:09.920
the dollar because they can't actually do it any other way.

1176
00:57:09.480 --> 00:57:11.679
That's that's our theory on how they're trying to devalue

1177
00:57:11.679 --> 00:57:14.920
the dollar. Bricks country is trying to take over the

1178
00:57:14.960 --> 00:57:17.440
world currency, which is the most powerful ones a dollar.

1179
00:57:17.519 --> 00:57:20.000
I thought a lot about that theory, and I just

1180
00:57:20.000 --> 00:57:21.440
don't get I can't get on board with it.

1181
00:57:21.920 --> 00:57:22.360
Whatever.

1182
00:57:22.440 --> 00:57:24.360
But Apple, speaking of China.

1183
00:57:24.199 --> 00:57:26.440
Oh what I suppose you think that Costco's doing it?

1184
00:57:27.039 --> 00:57:27.239
Do I?

1185
00:57:27.480 --> 00:57:29.280
That Costco's spiking gold?

1186
00:57:30.800 --> 00:57:32.719
The Apple hit an all time high. I get this

1187
00:57:33.000 --> 00:57:36.719
the day after Christmas last year, December twenty sixth, hitt

1188
00:57:36.719 --> 00:57:39.320
an all time high. Has since dropped by twenty percent

1189
00:57:40.159 --> 00:57:43.440
concerns about it is a ritually valued stock. The pe

1190
00:57:43.519 --> 00:57:49.039
is very high, facing increased competition and uncertainty, primarily in China.

1191
00:57:49.440 --> 00:57:51.800
You know what else is off twenty percent off its highs.

1192
00:57:52.199 --> 00:57:53.880
There's a ton of things I needed, a whole bunch

1193
00:57:53.920 --> 00:57:54.199
of them.

1194
00:57:54.360 --> 00:57:56.480
Yeah, you're right, But one that I'm keeping in mind

1195
00:57:56.559 --> 00:57:58.840
is Amazon. Yeah, Amazon's not going nowhere.

1196
00:57:59.039 --> 00:57:59.079
No.

1197
00:57:59.199 --> 00:58:01.000
And I've got a friend that wanted to buy Amazon

1198
00:58:01.000 --> 00:58:02.400
when it was down ten percent, and I said, no,

1199
00:58:02.440 --> 00:58:03.440
I want to be twenty percent.

1200
00:58:03.440 --> 00:58:04.639
He got down twenty percent. I called.

1201
00:58:04.679 --> 00:58:06.400
I said, okay, it's down twenty percent, and he goes, no,

1202
00:58:06.400 --> 00:58:07.039
not now.

1203
00:58:07.719 --> 00:58:09.400
So you think it's going to go down fifty per cent?

1204
00:58:09.440 --> 00:58:12.280
Once it starts dropping, it thinks that it's going to

1205
00:58:12.400 --> 00:58:15.079
just keep going down. But then I was My brother

1206
00:58:15.199 --> 00:58:17.760
has been trying to get into Reddit for a long time,

1207
00:58:18.039 --> 00:58:19.280
and I kept telling him. I was like, nah, I

1208
00:58:19.280 --> 00:58:20.880
don't think it's I think it's going to pull back.

1209
00:58:21.280 --> 00:58:23.679
It shot from one oh six to two thirty, and

1210
00:58:23.719 --> 00:58:25.119
he was all mad and stuff. And then it brought

1211
00:58:25.360 --> 00:58:29.199
back down to one sixteen in like three weeks. But

1212
00:58:29.280 --> 00:58:31.239
it kept dropping and we're like, okay, we'll probably go lower.

1213
00:58:31.559 --> 00:58:34.119
Now it was back to one thirty. You lose your chance.

1214
00:58:34.159 --> 00:58:35.679
And there's but, like I was saying, there's so many

1215
00:58:35.719 --> 00:58:38.239
other opportunities. You don't necessarily have to be fixated on one.

1216
00:58:38.519 --> 00:58:41.480
If you really truly believe in the company, start buying

1217
00:58:41.519 --> 00:58:43.519
a little bit, and then if it drops, you buy more.

1218
00:58:43.679 --> 00:58:45.679
When people were scared, just when we make the most money,

1219
00:58:45.760 --> 00:58:47.679
I mean, what was happening on Thursday, Dave, what were

1220
00:58:47.679 --> 00:58:48.039
you doing?

1221
00:58:48.360 --> 00:58:51.599
Yeah, well this is interesting because this past week you

1222
00:58:51.679 --> 00:58:53.480
might want to say, Okay, as a money manager, what

1223
00:58:53.519 --> 00:58:56.599
do you do. Well, last week we had a hedge position,

1224
00:58:57.400 --> 00:59:00.519
an ETF that goes up twice as fas as the

1225
00:59:00.559 --> 00:59:02.760
market goes down, just as a hedge.

1226
00:59:03.079 --> 00:59:04.159
We took half that off.

1227
00:59:05.199 --> 00:59:08.480
I have clients that had come in that were sitting,

1228
00:59:08.599 --> 00:59:12.079
as did you guys sit in cash? We deployed some

1229
00:59:12.159 --> 00:59:17.119
of that cash. I had a relatively aggressive client came

1230
00:59:17.159 --> 00:59:20.199
in year year and a half ago, and I had

1231
00:59:20.239 --> 00:59:23.159
them slowly over time, got an eighty percent invested in

1232
00:59:23.199 --> 00:59:25.760
the market. But I continue to hold twenty percent in

1233
00:59:25.800 --> 00:59:27.280
treasury just in case.

1234
00:59:27.679 --> 00:59:28.239
Just in case.

1235
00:59:28.599 --> 00:59:31.199
Well, I took half that put that into the market.

1236
00:59:31.280 --> 00:59:33.519
So what you do when you get that kind of

1237
00:59:33.559 --> 00:59:36.840
a drop is you reduce your hedges, you increase your

1238
00:59:36.880 --> 00:59:39.519
long positions, and it works out.

1239
00:59:40.239 --> 00:59:41.199
Sometimes it takes time.

1240
00:59:41.239 --> 00:59:43.639
Somebody asked me the other day or two ago, is

1241
00:59:43.679 --> 00:59:44.920
this a good buying opportunity?

1242
00:59:44.920 --> 00:59:45.400
Absolutely?

1243
00:59:45.880 --> 00:59:48.280
When market goes down ten percent, that's a very good

1244
00:59:48.280 --> 00:59:50.599
buying opportunity. Is it the best ever?

1245
00:59:51.039 --> 00:59:51.280
No?

1246
00:59:51.800 --> 00:59:55.519
I mean, I've got a I think my Tesla model.

1247
00:59:55.559 --> 00:59:58.079
Why when at least it was sixty four thousand. I

1248
00:59:58.239 --> 01:00:02.079
spoke to a client on Friday and he just bought

1249
01:00:02.119 --> 01:00:05.719
with the tax incentive, and they're offering eight thousand dollars

1250
01:00:05.719 --> 01:00:07.760
off the sticker because Tesla was struggling a little bit.

1251
01:00:07.840 --> 01:00:09.960
Right now, he's.

1252
01:00:09.800 --> 01:00:13.039
Thirty four thousand tax tid to license out the door out. Wow,

1253
01:00:13.159 --> 01:00:13.840
thirty four thousand.

1254
01:00:13.880 --> 01:00:15.800
You don't know if it's the best time to buy

1255
01:00:15.880 --> 01:00:18.440
ever until it's after the fact. That absolutely March at

1256
01:00:18.440 --> 01:00:21.599
twenty twenty, we bought Microsoft as a firm because we

1257
01:00:21.599 --> 01:00:23.599
thought it was a good time. The market's just tanked

1258
01:00:23.639 --> 01:00:26.719
thirty percent. Turns out it was the bottom of the

1259
01:00:26.760 --> 01:00:28.039
bottom for Microsoft.

1260
01:00:28.119 --> 01:00:28.719
It's tripled.

1261
01:00:28.920 --> 01:00:29.920
It is tripled since then.

1262
01:00:29.960 --> 01:00:31.559
We bought it one hundred and twenty three dollars to

1263
01:00:31.599 --> 01:00:33.840
share the change. You don't know that when you do it.

1264
01:00:33.880 --> 01:00:35.480
We just thought, Okay, it's a good time to buy.

1265
01:00:35.719 --> 01:00:37.400
It's good you think it's a good time. We'll start

1266
01:00:37.400 --> 01:00:39.679
getting clients into it, and we bought a position in it.

1267
01:00:40.039 --> 01:00:42.360
Obviously it's at three eighty, it was at four eighty

1268
01:00:42.400 --> 01:00:45.719
at one point four fifty, But we didn't know. We're

1269
01:00:45.719 --> 01:00:48.199
not saying on that day that it's the best time

1270
01:00:48.239 --> 01:00:49.599
ever to buy. We thought it was a good time

1271
01:00:49.599 --> 01:00:52.920
to buy, just like it might be on Monday. Might

1272
01:00:52.960 --> 01:00:54.559
be a good time to buy Amazon, and that might

1273
01:00:54.599 --> 01:00:57.000
be the lowest Amazon ever goes again, you don't know,

1274
01:00:57.280 --> 01:00:59.039
but it's again. If you want to start a position

1275
01:00:59.079 --> 01:01:02.000
in a company, lot of companies have taken a hit

1276
01:01:02.079 --> 01:01:04.360
in the last two weeks, start a position, put twenty

1277
01:01:04.360 --> 01:01:06.000
five percent of what you actually want to do, and

1278
01:01:06.039 --> 01:01:09.800
start dollar cousets averaging in and we actually got your

1279
01:01:09.800 --> 01:01:12.199
feet wet, and then your your whole mindset, your whole

1280
01:01:12.239 --> 01:01:13.159
belief changes.

1281
01:01:13.679 --> 01:01:16.519
And we absolutely always have a plan. And if you're

1282
01:01:16.519 --> 01:01:19.480
a home gamer, you've got to have a plan. And

1283
01:01:19.519 --> 01:01:21.760
don't just not the seat of the pants stuff. Now

1284
01:01:21.760 --> 01:01:23.119
I get up one morning and look at the screen,

1285
01:01:23.199 --> 01:01:24.719
go oh maybe that's gonna be good. Oh maybe that's

1286
01:01:24.719 --> 01:01:25.119
gonna be good.

1287
01:01:25.119 --> 01:01:26.840
If you want to do that, just do zero dated

1288
01:01:26.840 --> 01:01:28.960
options and then you don't have to worry about what

1289
01:01:28.960 --> 01:01:29.360
the next dame.

1290
01:01:29.440 --> 01:01:31.840
And also just choosing a quality company, right, I mean

1291
01:01:32.519 --> 01:01:35.719
something that you're okay with buying and okay with dropping

1292
01:01:35.760 --> 01:01:38.400
another ten percent because you know that Amazon's not going

1293
01:01:38.440 --> 01:01:39.119
to go nowhere.

1294
01:01:39.679 --> 01:01:41.320
Right, Let's talk a little bit about Tesla.

1295
01:01:42.639 --> 01:01:44.480
Jeez, I've never heard you talk about Tesla.

1296
01:01:44.559 --> 01:01:45.480
Le touched on a little bit.

1297
01:01:45.480 --> 01:01:46.599
Then it's got hammered.

1298
01:01:46.800 --> 01:01:49.039
It got hammered fifteen percent on Monday. It was the

1299
01:01:49.079 --> 01:01:53.079
worst day for the stock since the pandemic, but it

1300
01:01:53.239 --> 01:01:56.119
rallied after President Trump signals his intent to buy a

1301
01:01:56.159 --> 01:01:59.760
Tesla and Morgan Stanley recommended to buy the shares on

1302
01:01:59.800 --> 01:02:04.239
this dip. Tesla has become the poster child for must caters.

1303
01:02:04.719 --> 01:02:09.400
If you hate what what Musk is doing, you're just

1304
01:02:09.519 --> 01:02:10.800
anti Tesla.

1305
01:02:10.480 --> 01:02:12.440
And you're going to get tried as a domestic terrorists

1306
01:02:12.440 --> 01:02:14.840
if you do anything to those dealerships. That's what Trump says.

1307
01:02:15.039 --> 01:02:20.000
Well, I mean, it's unbelievable's happening. And to what to

1308
01:02:20.280 --> 01:02:23.880
arrest in the Northwest for fire bombing Tesla dealerships.

1309
01:02:23.960 --> 01:02:28.039
I saw somebody on I think it was x Twitter. Yeah,

1310
01:02:28.119 --> 01:02:31.519
they went and bought a Tesla and then just demolished

1311
01:02:31.519 --> 01:02:33.360
it to get back at Elon Musk.

1312
01:02:34.159 --> 01:02:35.159
And after them.

1313
01:02:35.880 --> 01:02:38.679
After Morgan Stanley raised their raised it to a buy,

1314
01:02:38.960 --> 01:02:42.760
Goggenheim lowered the price target to one seventy. Stock finished

1315
01:02:42.760 --> 01:02:45.880
on Friday around fifty I think somewhere around there. They

1316
01:02:45.960 --> 01:02:47.880
lowered the price target to one to fifty and habited

1317
01:02:47.920 --> 01:02:51.079
a sell. Last week, Morgan Stanley named it their top

1318
01:02:51.159 --> 01:02:52.440
pick in the auto sector.

1319
01:02:53.559 --> 01:02:56.840
Somebody's wrong that What was the price target that Morgan

1320
01:02:56.920 --> 01:02:59.039
Stanley gave it? It was something crazy, right.

1321
01:03:00.360 --> 01:03:05.320
Fifty fifty percent upside Yeah. Friday, Elon Musk warned the

1322
01:03:05.400 --> 01:03:09.559
US Trade Representative in an unsigned letter that it is

1323
01:03:09.599 --> 01:03:13.639
exposed that Tesla is exposed to retaliatory tariffs, and you

1324
01:03:13.719 --> 01:03:15.840
wonder if that might not be a turning point in

1325
01:03:15.880 --> 01:03:19.519
the trade wars. If Elon's starting to get hurt in

1326
01:03:20.000 --> 01:03:23.639
Tesla and in space X, might that make a difference

1327
01:03:23.639 --> 01:03:24.039
to Trump?

1328
01:03:25.119 --> 01:03:26.320
I don't know it could.

1329
01:03:26.639 --> 01:03:30.679
Separately, Wells Fargo lowered their price target on the ev maker,

1330
01:03:31.000 --> 01:03:33.559
citing a shocking sales drop in Europe?

1331
01:03:34.239 --> 01:03:34.960
Are you kidding me?

1332
01:03:35.239 --> 01:03:35.480
Yeah?

1333
01:03:35.480 --> 01:03:39.119
But then I had a client call me on Friday

1334
01:03:39.519 --> 01:03:42.880
to get money out of his account. He's seventy eight

1335
01:03:42.960 --> 01:03:47.400
years old, he's politically on the right side. And his

1336
01:03:47.599 --> 01:03:51.760
neighbor a couple of doors down got a Tesla, and

1337
01:03:52.239 --> 01:03:55.719
my client said, the neighbor was like, kind of embarrassed

1338
01:03:55.719 --> 01:03:57.519
to tell him that he had gotten a Tesla. You

1339
01:03:57.519 --> 01:04:01.599
know that's a tree hugger car, right Well now, so,

1340
01:04:02.039 --> 01:04:04.320
so my client said, So he asked me if I

1341
01:04:04.320 --> 01:04:06.199
wanted to drive it? And so I wanted to drive it,

1342
01:04:06.239 --> 01:04:09.480
and he goes, I'm addicted. It is unbelievable. So he

1343
01:04:09.559 --> 01:04:11.400
gets getting money out of his account to get a

1344
01:04:11.440 --> 01:04:14.400
test on it, not only to support Elon, but because

1345
01:04:14.440 --> 01:04:16.880
he just loves it. And I've always I've told friends

1346
01:04:16.880 --> 01:04:20.679
of mine that if if you have any thought about

1347
01:04:20.719 --> 01:04:23.719
a Tesla, no matter whether your thought is positive negative,

1348
01:04:23.760 --> 01:04:27.039
but don't test drive it. If you're done, you're absolutely going.

1349
01:04:26.920 --> 01:04:28.000
To buy it. Yeah, you're good, buy it.

1350
01:04:28.039 --> 01:04:31.280
Going back, you said that they're still doing the tax

1351
01:04:31.320 --> 01:04:32.920
credits on these Teslas if you buy.

1352
01:04:32.840 --> 01:04:35.440
Yeah, oh yeah, yeah, And it's not and it's not

1353
01:04:35.559 --> 01:04:38.440
tax credit, it's cash at the at the at the

1354
01:04:38.480 --> 01:04:42.400
point of sale. Now they changed that January of last year.

1355
01:04:42.440 --> 01:04:47.159
What do they give you, Well, here's a check or

1356
01:04:47.199 --> 01:04:50.039
off what be off the sales price, obviously if you're

1357
01:04:50.039 --> 01:04:52.239
buying it. And one of the interesting parts about that

1358
01:04:52.400 --> 01:04:54.960
is probably at least fifty percent of the people buying

1359
01:04:55.000 --> 01:04:59.840
Teslas don't qualify for the tax credit because it's income based. No,

1360
01:05:00.199 --> 01:05:03.039
and they are kind of expensive cars. But that this

1361
01:05:03.119 --> 01:05:06.639
guy could walk out the door, tax title, license, everything,

1362
01:05:06.760 --> 01:05:09.719
a model why which is the number one selling car

1363
01:05:09.760 --> 01:05:12.079
in the world. For thirty four thousand dollars.

1364
01:05:12.239 --> 01:05:12.719
It's great.

1365
01:05:12.840 --> 01:05:13.800
It's pretty dwn good.

1366
01:05:13.920 --> 01:05:16.599
It's pretty darn good about Southwest.

1367
01:05:17.199 --> 01:05:21.159
Yeah, fifty four years tradition going down the drain. They're

1368
01:05:21.159 --> 01:05:24.039
no longer gonna have open seating, They're no longer gonna

1369
01:05:24.079 --> 01:05:26.440
have two free check bags for every customer. You're gonna

1370
01:05:26.480 --> 01:05:30.239
have to be they're a tier, top tier people. And

1371
01:05:30.280 --> 01:05:32.159
then if you have a Southwest credit card, you get

1372
01:05:32.159 --> 01:05:34.360
one bag check free. And then they're gonna have the

1373
01:05:34.400 --> 01:05:38.599
business elect class, they're gonna have the coach. They're turning

1374
01:05:38.639 --> 01:05:41.000
into every other airline. The thing that has set them

1375
01:05:41.039 --> 01:05:45.119
apart for fifty years is going away. So they're taking

1376
01:05:45.159 --> 01:05:47.920
a three hundred million dollar gamble. They said they're expecting

1377
01:05:48.000 --> 01:05:51.079
to generate about one point four billion in the bag

1378
01:05:51.119 --> 01:05:53.679
fees and all that, but lose about one point eight

1379
01:05:53.760 --> 01:05:55.159
billion in the next year or so in.

1380
01:05:56.679 --> 01:05:58.760
People not booking with them.

1381
01:05:58.840 --> 01:06:01.039
And I think that they did a good job about

1382
01:06:01.519 --> 01:06:05.719
They're trying to maintain the relationship with the people that

1383
01:06:05.880 --> 01:06:08.639
really like to fly Southwest. Still, if you have a

1384
01:06:08.679 --> 01:06:11.360
Southwest Rapid Rewards credit card, you are still going to

1385
01:06:11.400 --> 01:06:14.760
be able to check a free bag. If you are

1386
01:06:16.039 --> 01:06:19.400
whatever tier number, you get two bags, right. And I

1387
01:06:19.960 --> 01:06:21.960
truly think that this is probably a really good play

1388
01:06:22.000 --> 01:06:24.119
for the company. I think that the pricing models on

1389
01:06:24.199 --> 01:06:27.840
your seats is gonna every other airline out there takes

1390
01:06:27.840 --> 01:06:30.000
advantage of it. It's time that Southwest does it. Do

1391
01:06:30.400 --> 01:06:34.559
they really attract enough buyers to their company to use

1392
01:06:34.599 --> 01:06:39.159
Southwest to okay, buy a ticket on this airline just

1393
01:06:39.199 --> 01:06:41.559
so I could get a free air or a free bag,

1394
01:06:41.800 --> 01:06:43.840
or that way I could choose my seats. I don't

1395
01:06:43.880 --> 01:06:44.239
think so.

1396
01:06:44.400 --> 01:06:48.519
That's the gamble. But it's mainly because of Elliott. Active

1397
01:06:48.519 --> 01:06:50.800
Management took people stake in the company a year ago,

1398
01:06:51.079 --> 01:06:53.880
and they are a big private equity investment fund. They

1399
01:06:53.960 --> 01:06:55.480
took a huge stake in it because they wanted to

1400
01:06:55.559 --> 01:06:57.800
change it. And I don't know how many seats on

1401
01:06:57.800 --> 01:06:59.719
the board they took over, but I'm.

1402
01:06:59.599 --> 01:07:01.920
Guessing couple, yeah, two or three here, yeah.

1403
01:07:01.960 --> 01:07:04.360
And they're the ones that have been hammering this behind

1404
01:07:04.360 --> 01:07:06.840
the scenes as to change your model, change this, and

1405
01:07:06.920 --> 01:07:09.199
change everything that you've been doing for fifty four years.

1406
01:07:09.320 --> 01:07:11.880
And because they want better revenue, that's what private equity does.

1407
01:07:11.920 --> 01:07:13.639
They want to come in and they're all about the

1408
01:07:13.639 --> 01:07:15.800
bottom line and the numbers and the revenue increase and

1409
01:07:15.840 --> 01:07:16.480
then they sell it.

1410
01:07:16.679 --> 01:07:18.679
I'm not sure how that stock finished the week up,

1411
01:07:18.719 --> 01:07:20.960
but I think initially off the news they popped up

1412
01:07:20.960 --> 01:07:23.320
about eight eight percent give or take.

1413
01:07:23.719 --> 01:07:26.639
Ten drop ten percent on and think good reaction to today.

1414
01:07:26.719 --> 01:07:29.840
Yeah, yeah, we'll see the people. I know.

1415
01:07:29.920 --> 01:07:32.559
I mean, obviously is a select them out. The reason

1416
01:07:32.559 --> 01:07:34.480
they use Southwest is because of the free bags.

1417
01:07:34.719 --> 01:07:37.119
Seriously, yeah, I mean it's like fifty bucks.

1418
01:07:37.480 --> 01:07:38.679
Yeah, people don't want to pay that.

1419
01:07:39.360 --> 01:07:40.599
Okay, I did.

1420
01:07:40.840 --> 01:07:44.360
I'm not, yeah, you know, dismissing fifty bucks, but it

1421
01:07:44.400 --> 01:07:46.920
isn't going to change my airline if I'm if it's

1422
01:07:46.920 --> 01:07:47.920
going where I want to go.

1423
01:07:48.880 --> 01:07:51.719
Right, and especially if you know, Okay, I want to

1424
01:07:51.760 --> 01:07:53.960
fly to Atlanta and I have a non stop on

1425
01:07:54.199 --> 01:07:57.719
Delta and I have to stop somewhere with the Southwest one,

1426
01:07:58.199 --> 01:07:59.679
but I get a free back on Southwest. I'm not

1427
01:07:59.719 --> 01:08:02.559
gonna be a turn from Delta just to go in

1428
01:08:02.599 --> 01:08:04.159
the Southwest to get the free bag. I'm gonna take

1429
01:08:04.159 --> 01:08:05.159
my NonStop flight.

1430
01:08:05.039 --> 01:08:05.559
Man to fly.

1431
01:08:05.960 --> 01:08:07.719
Well, That's what I'm saying. But Delta has nice planes

1432
01:08:07.760 --> 01:08:08.039
and stuff.

1433
01:08:08.079 --> 01:08:10.360
Southwest planes need to be upgraded if they're gonna have

1434
01:08:10.360 --> 01:08:12.920
the same prices as Delta and United who have these

1435
01:08:12.920 --> 01:08:15.199
new planes, who have been upgrading for ten years. Delta

1436
01:08:15.360 --> 01:08:17.079
Southwest is gonna behind the game. They got to do

1437
01:08:17.079 --> 01:08:18.520
it quick, is what I'm saying.

1438
01:08:18.600 --> 01:08:22.319
Yeah, I flew to the Midwest twice last year last summer,

1439
01:08:22.600 --> 01:08:25.359
and paying for bags didn't even be able to enter

1440
01:08:25.399 --> 01:08:27.960
my mind. I just didn't.

1441
01:08:28.159 --> 01:08:30.119
I didn't realize that became a thing after two thousand

1442
01:08:30.119 --> 01:08:32.640
and one to help airlines recover costs. Yeah, and it

1443
01:08:32.680 --> 01:08:33.640
wasn't supposed to be permanent.

1444
01:08:33.760 --> 01:08:37.159
Oh no, temporary yeah, a fuel like a fuel charge

1445
01:08:37.159 --> 01:08:37.640
thing right.

1446
01:08:37.600 --> 01:08:38.640
Turn into social security?

1447
01:08:38.680 --> 01:08:41.840
Oh yeah, temporary to permanent.

1448
01:08:41.880 --> 01:08:42.039
Hey.

1449
01:08:42.039 --> 01:08:44.600
But also with oil being lower, it's gonna help these

1450
01:08:44.600 --> 01:08:45.159
airlines out.

1451
01:08:45.199 --> 01:08:46.680
I think, oh big time.

1452
01:08:46.880 --> 01:08:49.760
Prices are down for airlines, They're definitely down. I've been

1453
01:08:49.800 --> 01:08:52.560
looking at different flights going ticket ticket prices are down.

1454
01:08:53.479 --> 01:08:55.000
Keep me going well, I mean.

1455
01:08:54.960 --> 01:08:59.079
I Lexington, Kentucky from Tucson when college it was like

1456
01:08:59.359 --> 01:09:02.079
seven years eight years ago, ten years ago, it was

1457
01:09:02.319 --> 01:09:04.600
seven hundred dollars a ticket to get to Lexington because

1458
01:09:04.600 --> 01:09:07.920
it's a small airport. From Tucson Airport, it was four

1459
01:09:08.119 --> 01:09:10.960
fifty going. During the Horse Race meets, which is the

1460
01:09:10.960 --> 01:09:15.359
biggest time of year in yeah October, yeah, okay, or

1461
01:09:15.399 --> 01:09:17.159
if they do much cheaper than it's ever been that

1462
01:09:17.239 --> 01:09:17.680
I've seen.

1463
01:09:18.079 --> 01:09:20.439
So it was interesting. Wait did you sorry, did.

1464
01:09:20.319 --> 01:09:21.600
You guys see what Delta did?

1465
01:09:21.760 --> 01:09:22.119
Uh huh?

1466
01:09:22.279 --> 01:09:25.079
So coming out start the year, they had a January

1467
01:09:25.159 --> 01:09:27.359
estimate calling for about a six to eight percent rise

1468
01:09:27.359 --> 01:09:30.159
in the revenue, and then they come out with their

1469
01:09:30.439 --> 01:09:33.119
earnings report this last week and they say that they're

1470
01:09:33.159 --> 01:09:34.520
not going to be growing any more than a five

1471
01:09:34.520 --> 01:09:38.520
percent on the yearly basis, totally slash their expectations going forward,

1472
01:09:39.000 --> 01:09:41.039
and I think that that's what brought down the airline

1473
01:09:41.119 --> 01:09:43.640
sucks that day. I think that came in after the Southwest,

1474
01:09:44.039 --> 01:09:46.479
So again I'm not sure where Southwest ended up finishing

1475
01:09:46.479 --> 01:09:50.000
the week, got that initial ten percent pop, then Delta

1476
01:09:50.039 --> 01:09:53.359
comes in reports horrible earnings. All airlines go down.

1477
01:09:53.479 --> 01:09:55.159
One of one of the things that weighed on the

1478
01:09:55.199 --> 01:09:59.479
market this week is earnings reports were generally pretty darn good,

1479
01:09:59.760 --> 01:10:03.920
but almost every single company gave cautious guidance. And you

1480
01:10:03.960 --> 01:10:07.560
can understand why. With the tariff thing going on, You're

1481
01:10:07.720 --> 01:10:09.840
entering a world here where we don't know really was

1482
01:10:10.079 --> 01:10:13.399
and that's why businesses are pulling back on expansion plans.

1483
01:10:13.600 --> 01:10:17.640
That's why my friends customers not buying or furniture because

1484
01:10:17.680 --> 01:10:21.399
you just don't know. So, you know, things are changing here,

1485
01:10:22.239 --> 01:10:24.600
and I think we all hope that they're going to

1486
01:10:24.680 --> 01:10:28.520
ultimately change for the better. But right now there's a

1487
01:10:28.560 --> 01:10:32.279
tremendous amount of uncertainty in the market, in the economy.

1488
01:10:33.840 --> 01:10:34.039
Yeah.

1489
01:10:34.079 --> 01:10:36.600
And if this uncertainty and all of all this news

1490
01:10:36.640 --> 01:10:39.039
and stuff makes you nervous, makes it scary, It makes

1491
01:10:39.039 --> 01:10:41.560
you uncertain about what your future is for retirement, give

1492
01:10:41.640 --> 01:10:43.600
us a call. We always talk about our financial plan.

1493
01:10:43.640 --> 01:10:44.279
It's free.

1494
01:10:44.560 --> 01:10:46.439
We create it some scratch with do we go through

1495
01:10:46.439 --> 01:10:48.560
all the scenarios. We don't think social scary is going

1496
01:10:48.600 --> 01:10:50.239
to get cut, but we can show you what happens

1497
01:10:50.279 --> 01:10:52.399
if it does. We can do that in real time.

1498
01:10:52.399 --> 01:10:54.239
We can show you if inflation goes back up. We

1499
01:10:54.279 --> 01:10:56.520
can show you how long your money will last, Will

1500
01:10:56.560 --> 01:10:57.960
you be able to spend what you want to spend

1501
01:10:57.960 --> 01:11:00.359
in retirement. We can show you all that stuff off

1502
01:11:00.359 --> 01:11:03.239
your unique financial plan, and we go through it.

1503
01:11:03.359 --> 01:11:05.640
If we get those if we get those medical advancements

1504
01:11:05.640 --> 01:11:07.159
that Dean was talking about, and we're living to one

1505
01:11:07.199 --> 01:11:09.159
hundred and five hundred and ten years old. You want

1506
01:11:09.199 --> 01:11:11.399
to see if your plan's going to make it that long.

1507
01:11:11.560 --> 01:11:13.239
I could send you one hundred and fifty years old.

1508
01:11:13.239 --> 01:11:14.359
See see how it works.

1509
01:11:14.479 --> 01:11:17.000
Those scary's been around for ninety years. No one's ever

1510
01:11:17.119 --> 01:11:18.119
cut it a penny.

1511
01:11:18.199 --> 01:11:19.760
And what I was trying to get with the is

1512
01:11:19.800 --> 01:11:22.079
the financial plan is very cool. The software is very

1513
01:11:22.079 --> 01:11:24.560
cool that we could do plenty of what if scenarios.

1514
01:11:24.640 --> 01:11:27.479
It's a lot of nerves at ease, and it makes

1515
01:11:27.479 --> 01:11:29.920
the people feeling a lot more comfortable when they leave

1516
01:11:30.279 --> 01:11:30.680
after that.

1517
01:11:30.720 --> 01:11:33.199
And if your statements make you uncomfortable, don't open them.

1518
01:11:33.720 --> 01:11:36.600
If watching the market makes you uncomfortable, turn off the tv.

1519
01:11:37.039 --> 01:11:40.000
There are solutions, people. This is not a time to

1520
01:11:40.039 --> 01:11:43.159
be freaking out. Just relax. Every market decline in history

1521
01:11:43.159 --> 01:11:45.359
had been followed by a new all time high. We'll

1522
01:11:45.439 --> 01:11:49.399
be right back, Welcome back. This is the Money Matter Show,

1523
01:11:49.680 --> 01:11:53.640
Segment five. On a Sunday morning in the desert, and

1524
01:11:54.239 --> 01:11:56.079
things are getting warming up a little bit after we

1525
01:11:56.159 --> 01:11:58.720
could rain and cold, and Lord knows we needed it.

1526
01:12:00.199 --> 01:12:03.199
I think I stress more about the moisture than almost anybody,

1527
01:12:03.199 --> 01:12:05.199
and I don't know why. I think it's because I

1528
01:12:06.279 --> 01:12:09.199
love this place and I don't want to have to leave.

1529
01:12:09.319 --> 01:12:11.560
I think that in some alternate universe, maybe you're a

1530
01:12:11.600 --> 01:12:12.399
weather mass.

1531
01:12:12.760 --> 01:12:15.640
I could see myself as the weather man. I really

1532
01:12:16.760 --> 01:12:19.000
one of the primary issues with me, or one of

1533
01:12:19.039 --> 01:12:21.920
the primary problems, is I'm outside a lot. Yeah, so

1534
01:12:21.960 --> 01:12:23.000
the weather does matter.

1535
01:12:24.399 --> 01:12:25.319
You're looking at that a lot.

1536
01:12:25.399 --> 01:12:25.560
Yeah.

1537
01:12:25.560 --> 01:12:27.199
And I'm outside in the summer, and I'm outside in

1538
01:12:27.199 --> 01:12:29.920
the winter. And when you're outside a lot, the weather

1539
01:12:30.000 --> 01:12:30.640
really matters.

1540
01:12:30.840 --> 01:12:31.079
Yeah.

1541
01:12:31.159 --> 01:12:33.279
If you're if you're planning your kid's birthday party side

1542
01:12:33.279 --> 01:12:35.079
of park, hit Dave, I'll let you know if it's

1543
01:12:35.079 --> 01:12:36.000
going to rain that day or not.

1544
01:12:36.239 --> 01:12:36.640
Yeah.

1545
01:12:36.720 --> 01:12:39.079
Yeah, it's I'll do a better job than the weather man.

1546
01:12:39.119 --> 01:12:39.279
OK.

1547
01:12:39.640 --> 01:12:42.479
I'm sure generally, I generally generally know what's going on.

1548
01:12:42.560 --> 01:12:44.439
A couple of things from the past. How about docu

1549
01:12:44.560 --> 01:12:48.479
sign Oh wow, seventy five percent below it's pandemic high.

1550
01:12:48.560 --> 01:12:50.680
Remember how in the pandemic wine of us we're ever

1551
01:12:50.720 --> 01:12:53.079
going to go out again? And if you bought a house,

1552
01:12:53.119 --> 01:12:55.279
you wouldn't be able to have the cellar there when

1553
01:12:55.279 --> 01:12:57.000
you look at it, and you'd have to close by

1554
01:12:57.039 --> 01:12:59.920
docusige and and nobody's ever going to see anybody again,

1555
01:13:00.680 --> 01:13:03.920
down seventy five percent from the pandemic. I had did

1556
01:13:04.119 --> 01:13:07.560
pop fifteen percent on Friday after finding out how much

1557
01:13:07.600 --> 01:13:11.960
Greenberg Financial has been using it. Actually, I don't think

1558
01:13:12.000 --> 01:13:16.079
that was a specific reason they cited. But I've never

1559
01:13:16.159 --> 01:13:19.800
been a fan. No, I've never used docusin a lot,

1560
01:13:19.960 --> 01:13:23.520
just never needed in my life. My goodness, this conversion

1561
01:13:23.600 --> 01:13:26.880
we've done. If you're not a client, that we converted

1562
01:13:26.920 --> 01:13:30.159
from a broker dealer to a registered investment advisor, which

1563
01:13:30.199 --> 01:13:33.840
is essentially moving from Old Greenberg to New Greenberg. And

1564
01:13:33.960 --> 01:13:37.840
each of our clients needed to sign letters authorization to

1565
01:13:37.880 --> 01:13:41.399
do that, and clients all over the country and all

1566
01:13:41.439 --> 01:13:45.199
over the world, and Docusine made it so much easier,

1567
01:13:45.319 --> 01:13:47.840
so easy, and so I don't think it's going to

1568
01:13:47.840 --> 01:13:48.479
go away anytime.

1569
01:13:48.520 --> 01:13:50.039
So it's kind of the way of the world. You

1570
01:13:50.039 --> 01:13:52.600
think all realtors use it when you're buying a house now.

1571
01:13:52.840 --> 01:13:57.039
Yeah, most clients are, Most clients are comfortable with it

1572
01:13:57.079 --> 01:13:58.600
and are familiar with it.

1573
01:13:58.600 --> 01:14:00.880
It gets me thinking about Zoom. I've been watching that.

1574
01:14:01.239 --> 01:14:03.039
I've been watching that stock a little bit. It's trading

1575
01:14:03.039 --> 01:14:04.880
in the seventies, which was.

1576
01:14:04.840 --> 01:14:05.479
A little bit lower.

1577
01:14:05.479 --> 01:14:07.520
I'd take a stab at it. But they they've been

1578
01:14:07.600 --> 01:14:12.079
kind of integrating some new artificial intelligence stuff into their

1579
01:14:12.119 --> 01:14:15.720
platform as in a lot of these colleges, and they

1580
01:14:15.720 --> 01:14:19.720
do online classes right, so now as a student, I'm

1581
01:14:19.760 --> 01:14:25.039
able to encapsulate this whole hour long class and just

1582
01:14:25.079 --> 01:14:30.039
say AI, you know, Zoom summarizes for me, and that's

1583
01:14:30.079 --> 01:14:32.720
that's pretty cool. And not to mention, I think about

1584
01:14:32.760 --> 01:14:36.479
how Microsoft, for example, they have Ward, they have Excel,

1585
01:14:36.720 --> 01:14:40.880
they have all these things. They have teams. Now, when

1586
01:14:40.920 --> 01:14:43.680
you're a University of Arizona student, at least you have

1587
01:14:43.760 --> 01:14:46.479
that license, the Microsoft license that gets you access to

1588
01:14:46.560 --> 01:14:50.479
Microsoft Word, to Excel, to all of their platforms. What

1589
01:14:51.159 --> 01:14:56.079
other licenses does University of Arizona give you? Zoom because

1590
01:14:56.119 --> 01:14:58.159
that's the only thing that they that at least U

1591
01:14:58.159 --> 01:14:58.800
have a uses.

1592
01:14:59.079 --> 01:15:02.079
So as a you have a student, you automatically have Zoom.

1593
01:15:02.239 --> 01:15:05.159
Yes, correct, Oka correct, you have a Zoom account and

1594
01:15:05.399 --> 01:15:07.760
that's if you have an online class, that's how you

1595
01:15:08.119 --> 01:15:11.439
log into it. A lot of the times they teachers,

1596
01:15:11.600 --> 01:15:13.960
you know, you might go to class in person, but

1597
01:15:14.000 --> 01:15:15.880
at the same time they'll cover the lecture and that's

1598
01:15:15.880 --> 01:15:19.800
set up through Zoom. That certification to give to your

1599
01:15:19.880 --> 01:15:23.439
thousands of students costs a ton of money. I think

1600
01:15:23.439 --> 01:15:26.039
that they're the leader in this space. Obviously. Of course, yes,

1601
01:15:26.039 --> 01:15:29.680
there's other video platforms out there that will be used,

1602
01:15:30.880 --> 01:15:32.720
but I think that Zoom is a big one, and

1603
01:15:32.760 --> 01:15:36.199
I think that a lot of colleges out there are

1604
01:15:36.239 --> 01:15:37.239
going to be utilizing that.

1605
01:15:37.880 --> 01:15:40.159
Another stock we've often had fun with on the show

1606
01:15:40.239 --> 01:15:44.479
is Peloton about how how long can they stay in

1607
01:15:44.479 --> 01:15:47.800
business and how the machine is a wonderful place to

1608
01:15:47.880 --> 01:15:50.920
hang clothes. But you know, quietly, the stock has more

1609
01:15:50.960 --> 01:15:53.760
than doubled off the August low, and they're trying to

1610
01:15:53.760 --> 01:15:56.039
come back from the dead. The rally was kicked off

1611
01:15:56.079 --> 01:15:59.159
by an agreement with Costco. They've done agreement with Costo

1612
01:15:59.279 --> 01:16:02.760
to sell their devices in Costco stores. That agreement was

1613
01:16:02.800 --> 01:16:06.760
over the holidays. It has been extended. The equipment is

1614
01:16:06.800 --> 01:16:10.560
still for sale. Stock jumped another fourteen percent last Friday

1615
01:16:10.560 --> 01:16:15.000
on a brokerage upgrade to buy Saint Pelagton has regained

1616
01:16:15.000 --> 01:16:18.239
its footing, is a clear leader in the fitness space.

1617
01:16:18.439 --> 01:16:23.279
You know it's but remember the now seven dollars stock

1618
01:16:23.399 --> 01:16:27.119
up from two seventy five, used to be one sixty.

1619
01:16:27.239 --> 01:16:28.920
So one hundred and sixty dollars a year.

1620
01:16:29.039 --> 01:16:31.039
Yeah, one hundred and sixty dollars a year, not a

1621
01:16:31.079 --> 01:16:33.279
dollar sixty. It was one hundred and sixty dollars.

1622
01:16:33.279 --> 01:16:35.399
When I use a peloton, I love it. I just

1623
01:16:35.560 --> 01:16:38.319
won't buy one anymore. But like I during twenty twenty,

1624
01:16:38.560 --> 01:16:40.640
everybody was contemplating because they said, I don't know if

1625
01:16:40.640 --> 01:16:41.159
a gym's going.

1626
01:16:41.159 --> 01:16:41.760
To open again.

1627
01:16:41.920 --> 01:16:42.960
What do you mean when you use one?

1628
01:16:43.000 --> 01:16:44.479
What do you use one like the gym?

1629
01:16:44.560 --> 01:16:44.720
Oh?

1630
01:16:44.720 --> 01:16:45.199
Really yeah?

1631
01:16:45.399 --> 01:16:46.079
At forty five.

1632
01:16:46.279 --> 01:16:48.439
No, there's a gym that I go do that has them,

1633
01:16:48.600 --> 01:16:51.239
and this is the only time I use it, So

1634
01:16:51.319 --> 01:16:53.039
the gym buys it. I go to the gym still

1635
01:16:53.119 --> 01:16:55.640
and then I'll use it. But I'm not buying one

1636
01:16:55.680 --> 01:16:57.279
at home. And I don't know anybody that's bought a

1637
01:16:57.319 --> 01:17:00.520
new one. They just have one from years ago. They're

1638
01:17:00.520 --> 01:17:04.199
great though you use them, they get a great workout. Yeah,

1639
01:17:04.439 --> 01:17:06.199
I'm just that's the only reason they're staying in.

1640
01:17:06.319 --> 01:17:08.039
But it's kind of like every other treadmill.

1641
01:17:09.520 --> 01:17:10.720
I'm talking bike.

1642
01:17:11.039 --> 01:17:13.079
Yeah, bike, Yeah, it's like you go to it's like

1643
01:17:13.159 --> 01:17:15.880
going to a bike class, like a spin class by yourself.

1644
01:17:16.319 --> 01:17:18.119
Don't you need to like a pay for membership for

1645
01:17:18.279 --> 01:17:20.039
this monthly subscription.

1646
01:17:20.119 --> 01:17:23.079
Yeah, the gym does. So I don't have to, right, right,

1647
01:17:23.159 --> 01:17:24.000
But you can.

1648
01:17:24.720 --> 01:17:25.720
But you don't have to, right.

1649
01:17:26.119 --> 01:17:28.600
But Oh okay. So if I'm a consumer and I

1650
01:17:28.640 --> 01:17:31.800
want to buy a peloton at my house, yes, I

1651
01:17:31.880 --> 01:17:33.039
need to buy the subscription.

1652
01:17:33.560 --> 01:17:35.239
I don't need to know, you don't need to make

1653
01:17:35.279 --> 01:17:38.399
It'll enhance the experience, gotcha, It enhance the experience.

1654
01:17:38.439 --> 01:17:40.039
I just I personally don't think that I'm going to

1655
01:17:40.039 --> 01:17:42.159
be buying the subscription because what does that give me?

1656
01:17:42.239 --> 01:17:45.920
One item? I could bike? If I pay the same

1657
01:17:45.960 --> 01:17:48.359
feat La Fitness, I have the world of my hands.

1658
01:17:48.640 --> 01:17:48.840
You know.

1659
01:17:48.920 --> 01:17:52.399
The value stocks have done better this year. Hoverizon was

1660
01:17:52.479 --> 01:17:56.199
up sixteen percent, but down seven percent on Tuesday after

1661
01:17:56.279 --> 01:18:00.319
saying wireless subscriber growth in the fourth quarter will often

1662
01:18:01.000 --> 01:18:04.720
do to off season promotions by competitors. How about because

1663
01:18:04.720 --> 01:18:07.119
you're lying to us about you on your ads, and

1664
01:18:07.239 --> 01:18:09.800
so that's what I would say, all of these ads

1665
01:18:09.800 --> 01:18:12.840
you see on TV about come and get the new

1666
01:18:12.880 --> 01:18:17.840
iPhone sixteen on us bogus, bogus, I've been down this road.

1667
01:18:18.680 --> 01:18:21.560
The only way, okay, you can get the new iPhone

1668
01:18:21.600 --> 01:18:28.319
sixteen free, but it requires a more expensive plan plan. Yeah. Yeah,

1669
01:18:28.640 --> 01:18:31.359
it's the whole thing. That just just a house of mirrors.

1670
01:18:31.359 --> 01:18:32.720
No free lunch in this world, Dave.

1671
01:18:32.840 --> 01:18:35.159
No, it's just a house of mirrors. And it's irritating frankly.

1672
01:18:35.199 --> 01:18:37.279
And I think if you're going to upgrade your phone,

1673
01:18:37.319 --> 01:18:38.840
you go to the Apple Store and buy it and

1674
01:18:38.840 --> 01:18:43.039
then and then turn it onto your network and don't

1675
01:18:43.039 --> 01:18:45.399
even get Verizon or AT and TI or any of

1676
01:18:45.439 --> 01:18:46.119
these other kind.

1677
01:18:46.039 --> 01:18:47.840
Of like in our business, when you hear people talk

1678
01:18:47.880 --> 01:18:50.039
about you get if you're buying a newd or you

1679
01:18:50.039 --> 01:18:50.760
get ten percent.

1680
01:18:51.319 --> 01:18:53.359
Yes, right, yeah there, yes, funny.

1681
01:18:53.079 --> 01:18:57.399
Technically, yeah, it's not lying, it's bibbing, it's just just

1682
01:18:57.680 --> 01:19:00.760
stringing in along. But what it is is money is

1683
01:19:00.840 --> 01:19:03.560
the funny money, which is you get ten percent on

1684
01:19:04.239 --> 01:19:06.560
income money if you keep the annuity alive. You don't

1685
01:19:06.560 --> 01:19:08.359
put it in one hundred thousand dollars into annuity and

1686
01:19:08.399 --> 01:19:10.720
automatically get ten thousand dollars. So then you close the

1687
01:19:10.720 --> 01:19:12.520
annuity and you close it with one hundred and ten

1688
01:19:12.560 --> 01:19:15.239
thousand dollars. That's not how that works. It goes towards

1689
01:19:15.279 --> 01:19:17.319
an income writer. If you pay for the income writer,

1690
01:19:17.680 --> 01:19:19.600
you get a little higher income boost, so it could

1691
01:19:19.640 --> 01:19:22.439
be beneficial to you. But the way it's advertised is

1692
01:19:22.479 --> 01:19:23.680
not very straightforward.

1693
01:19:24.640 --> 01:19:27.880
He's not straightforward. It's very misleading, as is a free

1694
01:19:27.960 --> 01:19:28.920
iPhone ad.

1695
01:19:29.600 --> 01:19:30.039
Exactly.

1696
01:19:30.119 --> 01:19:31.600
I had a client call me to your dan and said,

1697
01:19:32.279 --> 01:19:34.600
my bankers said that I can get a five percent

1698
01:19:34.640 --> 01:19:38.359
in my savings account. I said for what term? He

1699
01:19:38.439 --> 01:19:41.039
goes three months? I said what after that? And he goes, well,

1700
01:19:41.119 --> 01:19:44.319
it goes to market rate just two and a half three?

1701
01:19:44.359 --> 01:19:45.039
You know whatever.

1702
01:19:45.720 --> 01:19:47.680
That's that's not right, that's not right.

1703
01:19:47.800 --> 01:19:50.319
Wait, I got one go ahead, Redifin did you hear

1704
01:19:50.319 --> 01:19:50.680
about that?

1705
01:19:50.960 --> 01:19:51.119
Who?

1706
01:19:51.399 --> 01:19:51.920
Redifin?

1707
01:19:52.359 --> 01:19:53.479
No? What's up with threads? Finn?

1708
01:19:53.520 --> 01:19:54.479
Do you know what Redfin is?

1709
01:19:54.880 --> 01:19:55.199
Okay?

1710
01:19:55.720 --> 01:19:56.960
For the people a realty company?

1711
01:19:57.039 --> 01:19:58.439
Yeah, for the people like zill It's.

1712
01:19:58.359 --> 01:20:02.479
Exactly like Zilla, just the real estate companies sored sixty

1713
01:20:02.520 --> 01:20:05.119
eight percent after it announces that Rocket Companies is going

1714
01:20:05.159 --> 01:20:08.279
to acquire the company in an all stuck deal valued

1715
01:20:08.319 --> 01:20:09.960
at one point seventy five billion dollars.

1716
01:20:10.239 --> 01:20:11.039
Well, I didn't see that.

1717
01:20:11.159 --> 01:20:13.960
Yeah, shares a Rocket Company, though they moved fifteen percent,

1718
01:20:14.039 --> 01:20:18.000
lawyer or lower. Why is it so typical that when

1719
01:20:18.000 --> 01:20:21.000
a company buys another company out, the one that's doing

1720
01:20:21.039 --> 01:20:23.479
the purchase decreases.

1721
01:20:23.239 --> 01:20:26.840
Because you've bought Rocket Mortgage because you like Rocket Mortgage

1722
01:20:26.880 --> 01:20:29.600
at a premium. Yeah, you know, but you like Rocket

1723
01:20:29.600 --> 01:20:33.960
Mortgage not because you wanted red Fin. And to acquire

1724
01:20:34.119 --> 01:20:37.199
all of the shares of red Fin, that Rocket Mortgage

1725
01:20:37.239 --> 01:20:40.720
has to pay more than Redfin is worth or people

1726
01:20:40.720 --> 01:20:42.840
wouldn't sell you the stock. It's kind of like that

1727
01:20:42.880 --> 01:20:45.439
Walgreens thing where we talk about take under takeover, you know,

1728
01:20:45.520 --> 01:20:48.479
to get all of the stock. They they couldn't take under.

1729
01:20:48.560 --> 01:20:50.920
They couldn't find enough people to sell them the stock

1730
01:20:50.960 --> 01:20:54.039
at nine or at ten or at eleven, so they

1731
01:20:54.079 --> 01:20:56.239
had to go to eleven. But forty two or something.

1732
01:20:56.680 --> 01:20:59.600
That's the point where they said, okay, that's a point

1733
01:20:59.600 --> 01:21:02.640
where we can acquire all of the shares. You try

1734
01:21:02.680 --> 01:21:05.079
to buy all of the shares of Walgreens in the

1735
01:21:05.079 --> 01:21:08.920
open market or Redfin or whatever, you're going to drive

1736
01:21:09.000 --> 01:21:12.479
the price well above what you need to pay if

1737
01:21:12.520 --> 01:21:16.760
you make a offer. So that's why. And it doesn't always.

1738
01:21:16.800 --> 01:21:21.560
It's not always. The acquirer doesn't always go down. If

1739
01:21:21.600 --> 01:21:24.520
it's going to be a creative to earnings. In other words,

1740
01:21:24.520 --> 01:21:28.479
immediately effective to your bottom line, it probably goes up.

1741
01:21:29.640 --> 01:21:32.399
But what happened is you have this period of transition

1742
01:21:32.920 --> 01:21:40.560
where you're trying to assimilate Redfin into Rocket Mortgage corporate structure.

1743
01:21:41.079 --> 01:21:43.159
How does that work, What does that cost? How many

1744
01:21:43.239 --> 01:21:47.560
layoffs would that involve, what kind of additional regulatory expenses involved.

1745
01:21:48.239 --> 01:21:50.880
It's going to take some time, it may not. In

1746
01:21:50.880 --> 01:21:53.640
other words, if Redfin was earning a dollar share, and

1747
01:21:53.640 --> 01:21:56.640
I'm just throwing that out there, they probably don't earn

1748
01:21:56.680 --> 01:22:01.239
a dollar share once a Rocket takes right for a

1749
01:22:01.319 --> 01:22:05.600
while because of the transitional cost. So I think that's

1750
01:22:05.640 --> 01:22:06.479
the primary reason.

1751
01:22:06.600 --> 01:22:07.439
Yeah, that makes sense.

1752
01:22:07.680 --> 01:22:08.359
And you want to be in.

1753
01:22:08.359 --> 01:22:10.439
The mortgage business, not in the real estate business. Right

1754
01:22:10.479 --> 01:22:12.760
now you're in the real estate business. It's kind of

1755
01:22:12.800 --> 01:22:15.960
like Trump with his crypto reserve. You know, the taxpayers

1756
01:22:15.960 --> 01:22:17.399
are now all in the crypto business.

1757
01:22:17.560 --> 01:22:19.600
Well, I think the Rocket Mortgage probably thinks that they're

1758
01:22:19.600 --> 01:22:22.039
going to be able to get buyers through that.

1759
01:22:22.560 --> 01:22:22.760
Yeah.

1760
01:22:22.800 --> 01:22:25.960
No, absolutely, they'll become the mortgage company for the for

1761
01:22:26.039 --> 01:22:28.399
those buyers, they've got a leg up. They're going to

1762
01:22:28.520 --> 01:22:31.520
know before anybody else were signed a contract to buy

1763
01:22:31.560 --> 01:22:34.279
a house, because it's their real estate company.

1764
01:22:34.319 --> 01:22:35.520
It was definitely a good acquisition.

1765
01:22:35.960 --> 01:22:38.359
I mean I had a fifty years ago I worked

1766
01:22:38.399 --> 01:22:40.720
with a guy whose wife worked at Valley National Bank

1767
01:22:40.760 --> 01:22:44.079
and he was in this business, and he came in

1768
01:22:44.119 --> 01:22:46.560
one day and he had a list of maturing CDs

1769
01:22:46.560 --> 01:22:49.960
a value National Bank. You can't do that. It's illegal,

1770
01:22:50.319 --> 01:22:52.079
which is it's totally illegal.

1771
01:22:52.239 --> 01:22:52.840
What's illegal?

1772
01:22:53.239 --> 01:22:55.560
Totally you can't have it, you can't be working idea

1773
01:22:55.560 --> 01:22:59.399
I fight and have a list of Valley Bank maturing CDs.

1774
01:23:00.239 --> 01:23:04.199
You know, I said, come on, But so what can

1775
01:23:04.239 --> 01:23:11.680
happen here is the company matt ridfin Rocket will legally

1776
01:23:11.760 --> 01:23:15.000
be able to have this split list of people who

1777
01:23:15.039 --> 01:23:17.560
are buying houses and be able to be the first

1778
01:23:17.640 --> 01:23:20.800
one to pitch them on their deal.

1779
01:23:21.239 --> 01:23:23.199
So I see it a pretty good fit.

1780
01:23:23.720 --> 01:23:27.119
But I can understand why owners of Rocket Mortgage would sell.

1781
01:23:27.000 --> 01:23:28.399
The stock off immediately.

1782
01:23:28.960 --> 01:23:29.760
Yeah.

1783
01:23:30.039 --> 01:23:33.439
Another one that's really struggling right now is Coal's department stores.

1784
01:23:33.680 --> 01:23:34.840
Yeah, really struggling.

1785
01:23:34.920 --> 01:23:38.560
Down twenty five percent at the open on Tuesday, following

1786
01:23:38.600 --> 01:23:42.119
week forward guidance and bad fourth quarter results. Estimated earnings

1787
01:23:42.119 --> 01:23:45.800
are less than fifty percent of what was expected. Lost

1788
01:23:45.840 --> 01:23:48.920
another seven percent on Wednesday. I thought when they decided

1789
01:23:48.960 --> 01:23:52.319
that they would take back Amazon packages that that was brilliant,

1790
01:23:52.520 --> 01:23:55.119
But then Whole Foods got bought by Amazon. They'll take

1791
01:23:55.159 --> 01:23:57.319
them back, and there's a lot more whole foods than

1792
01:23:57.319 --> 01:23:59.640
there are coals. So we'll be back with the last

1793
01:23:59.640 --> 01:24:02.560
segment of the Money Matter Show right after this break. Again,

1794
01:24:02.640 --> 01:24:04.479
thanks for joining us. We appreciate it.

1795
01:24:06.239 --> 01:24:08.880
Welcome back to the final segment of this Money Matter Show.

1796
01:24:08.920 --> 01:24:10.399
It's been an eventful one. We had a lot of

1797
01:24:10.399 --> 01:24:12.560
stuff go on last week, a lot of uncertainty in

1798
01:24:12.600 --> 01:24:15.720
the markets been the way for the last two weeks.

1799
01:24:15.960 --> 01:24:17.520
And if you are uncertain about what's going on in

1800
01:24:17.560 --> 01:24:20.439
your financial plan, come talk to us. We'll create your

1801
01:24:20.439 --> 01:24:22.600
financial plan from scratch. If you have one, we can

1802
01:24:22.880 --> 01:24:24.439
look at it, we can see what's going on. We

1803
01:24:24.479 --> 01:24:26.600
can put it through our system see what If it's

1804
01:24:26.600 --> 01:24:29.279
the same, we can do our risk an analysis tool,

1805
01:24:29.680 --> 01:24:31.479
which is if you have a portfolio right now, we

1806
01:24:31.520 --> 01:24:34.800
can show you what your portfolio is based on its

1807
01:24:34.880 --> 01:24:36.319
risk and then we can also give you the risk

1808
01:24:36.319 --> 01:24:38.479
tolerance question there that shows you what your risk is.

1809
01:24:38.520 --> 01:24:40.479
If it's not the same, then you got to talk

1810
01:24:40.479 --> 01:24:43.279
about something. But we find a lot of benefit from

1811
01:24:43.319 --> 01:24:46.640
the financial plan because it just tells people build their

1812
01:24:46.680 --> 01:24:49.399
peace of mind for their retirement. It's really just figuring out.

1813
01:24:49.439 --> 01:24:50.960
I mean, the biggest question always is am I going

1814
01:24:51.000 --> 01:24:52.279
to run out of money? I don't want to run

1815
01:24:52.319 --> 01:24:54.319
out of money all of a sudden. I've been getting

1816
01:24:54.319 --> 01:24:55.920
a paycheck for my whole life from a company I

1817
01:24:55.960 --> 01:24:59.119
work for or the business I own. Now it's from

1818
01:25:00.079 --> 01:25:02.600
one K plan. Now it's from my I'm paying myself.

1819
01:25:02.640 --> 01:25:05.119
It's a weird feeling. It's a scary feeling because I'm

1820
01:25:05.119 --> 01:25:08.439
not sure if I have enough, And that's what the

1821
01:25:08.479 --> 01:25:10.920
financial plan helps to see if you have enough, and

1822
01:25:10.960 --> 01:25:13.479
you do. Most often they have more than they think,

1823
01:25:13.760 --> 01:25:15.359
and they're well off and they're ready to go for

1824
01:25:15.439 --> 01:25:17.920
retirement and they can do what they want. But it's

1825
01:25:17.920 --> 01:25:20.960
the idea of the mindset shift from accumulating money for

1826
01:25:21.039 --> 01:25:25.680
your whole career to now distribute the distribution phase. And

1827
01:25:25.720 --> 01:25:28.079
it's scary for a lot of people, which is justifiably so,

1828
01:25:28.680 --> 01:25:31.760
because who knows. We've been talking about AI working in

1829
01:25:31.760 --> 01:25:33.399
healthcare and helping people that we think is going to

1830
01:25:33.439 --> 01:25:35.720
help people live longer. That could happen where all of

1831
01:25:35.720 --> 01:25:37.600
a sudden in the one oh, five is average?

1832
01:25:37.640 --> 01:25:38.119
Is normal?

1833
01:25:38.560 --> 01:25:40.479
So is your money gonna last for forty years in

1834
01:25:40.479 --> 01:25:42.720
a retirement rather than than when it used to be?

1835
01:25:42.920 --> 01:25:44.760
Sixty five used to be the retirement age. It was

1836
01:25:45.600 --> 01:25:48.000
ten fifteen years in retirement then you pass away. Was

1837
01:25:48.159 --> 01:25:51.800
that life expendency You're lucky? Yeah, nowadays it's much longer.

1838
01:25:51.840 --> 01:25:54.760
So you're thinking money's got to last a lot longer.

1839
01:25:54.800 --> 01:25:56.119
But I mean, that's why we come and do the

1840
01:25:56.119 --> 01:25:58.520
financial plan. We show you what it is that maybe

1841
01:25:58.600 --> 01:26:00.920
it doesn't pay to be more risk because of that

1842
01:26:01.000 --> 01:26:04.439
volatility during retirement. Maybe it does pay to be more risky.

1843
01:26:05.199 --> 01:26:07.319
We don't know until we look at your specific plan.

1844
01:26:07.560 --> 01:26:10.560
The plan is tailored completely to you and your situation.

1845
01:26:10.880 --> 01:26:14.079
We can go through all the different scenarios that go

1846
01:26:14.159 --> 01:26:16.319
through your head. Any questions you have, we're here to help,

1847
01:26:16.359 --> 01:26:18.439
and I mean meetings last anywhere from an hour to

1848
01:26:18.520 --> 01:26:21.119
two hours, depending on how many questions, how intricate the

1849
01:26:21.159 --> 01:26:21.600
plan is.

1850
01:26:21.880 --> 01:26:22.520
Then we go through.

1851
01:26:22.560 --> 01:26:24.800
The second meeting is when we give our advice on

1852
01:26:24.840 --> 01:26:26.279
what we would do for your plan. We lay it

1853
01:26:26.279 --> 01:26:29.319
out in a whole pamphlet, give it to you, show

1854
01:26:29.319 --> 01:26:32.159
it to you, answer any question you have. We really

1855
01:26:32.880 --> 01:26:37.039
harp and emphasize education of the finance because it's new

1856
01:26:37.079 --> 01:26:38.520
to a lot of people. They just started putting money

1857
01:26:38.520 --> 01:26:40.239
in their retirement plan when they were twenty five and

1858
01:26:40.720 --> 01:26:42.640
never thought about it again. So now they're trying to

1859
01:26:42.680 --> 01:26:44.319
figure out what they're in, how this is going to

1860
01:26:44.399 --> 01:26:47.199
generate them cash for the rest of their life. That's

1861
01:26:47.239 --> 01:26:48.760
where we come in to educate you, to make you

1862
01:26:48.800 --> 01:26:50.800
feel comfortable, because the more you know about what you're

1863
01:26:50.800 --> 01:26:53.479
doing for your financial life, the more comfortable.

1864
01:26:53.079 --> 01:26:55.159
You are with market girations.

1865
01:26:55.279 --> 01:26:57.479
Like right now, we don't have a ton of people

1866
01:26:57.520 --> 01:27:00.319
calling who we did with the financial plan because they

1867
01:27:00.399 --> 01:27:02.319
know the idea that behind it. We have this one

1868
01:27:02.399 --> 01:27:04.359
model where it's called strategic income.

1869
01:27:04.560 --> 01:27:07.119
You don't have a ton of people calling with concerns.

1870
01:27:06.640 --> 01:27:08.800
Concerns about the market.

1871
01:27:08.560 --> 01:27:10.359
Kind of people coming at you. Guys are in three

1872
01:27:10.399 --> 01:27:11.359
of these every day.

1873
01:27:11.359 --> 01:27:14.079
It's sorry, current clients calling about the market volatility not

1874
01:27:14.159 --> 01:27:15.880
a lot because the people who went through the whole

1875
01:27:15.920 --> 01:27:18.880
plan sometimes those market those plans take three months to

1876
01:27:19.119 --> 01:27:21.680
talk about until they're comfortable enough to open an account

1877
01:27:21.720 --> 01:27:23.800
with us. We have one model where it's called the

1878
01:27:23.800 --> 01:27:26.720
strategic income model. We buy bonds at different rates in

1879
01:27:26.760 --> 01:27:30.560
different times, so we know we have income put away

1880
01:27:30.600 --> 01:27:34.640
for these people for three five years, and we can

1881
01:27:34.720 --> 01:27:36.359
weather the storm of a down year.

1882
01:27:36.640 --> 01:27:38.159
You don't have to sell a single stock.

1883
01:27:38.239 --> 01:27:40.560
You don't have to tell a stock to raise cash

1884
01:27:40.760 --> 01:27:42.920
during that period to raise cash, so we can send

1885
01:27:42.920 --> 01:27:44.720
to you the bond's mature at the end of the year.

1886
01:27:44.760 --> 01:27:46.359
They're ready for the next year. We're ready to send

1887
01:27:46.359 --> 01:27:48.399
you the money each month. So if March is down

1888
01:27:48.439 --> 01:27:52.199
ten percent, which not looking great so far this year,

1889
01:27:52.319 --> 01:27:54.119
doesn't matter. We have the money in the money market

1890
01:27:54.119 --> 01:27:55.760
ready to send you, so we don't have to sell.

1891
01:27:55.800 --> 01:27:58.520
If the markets are up ten percent in March, we

1892
01:27:58.560 --> 01:28:01.039
can sell stock out of profit, take some profit off

1893
01:28:01.039 --> 01:28:03.119
the table, put it in the money market, get ready

1894
01:28:03.159 --> 01:28:04.640
to buy a bond for the next time, so we

1895
01:28:04.680 --> 01:28:07.640
can build on the ladder during good years, not have

1896
01:28:07.720 --> 01:28:10.319
to sell during bad years. And it helps people sleep

1897
01:28:10.359 --> 01:28:12.920
at night with when they're trying to use their retirement

1898
01:28:12.920 --> 01:28:13.840
funds for income.

1899
01:28:14.279 --> 01:28:14.479
Yep.

1900
01:28:14.520 --> 01:28:16.560
And I think one of the most consistent reactions that

1901
01:28:16.600 --> 01:28:19.079
we get coming out of that financial planning meeting, that

1902
01:28:19.079 --> 01:28:21.960
initial financial planning meeting, whether they decide to become a

1903
01:28:22.000 --> 01:28:25.720
client or not, is a sigh of relief of being

1904
01:28:25.760 --> 01:28:28.960
able to visualize us. Okay, it makes sense. Now, Okay,

1905
01:28:29.000 --> 01:28:31.319
I'm knock going to outlive my money. Okay, I can

1906
01:28:31.439 --> 01:28:35.239
retire next month instead of three years from now. Come

1907
01:28:35.279 --> 01:28:37.039
get the peace of mind. Five two zero five four

1908
01:28:37.079 --> 01:28:38.239
four four nine zero nine.

1909
01:28:38.720 --> 01:28:41.039
Yeah, everything about it is free too.

1910
01:28:41.239 --> 01:28:42.840
The only time we would get paid is if you

1911
01:28:42.920 --> 01:28:46.199
decide to move forward with our recommendations. We implement the plan,

1912
01:28:46.359 --> 01:28:48.560
we manage your money. We get paid on the management

1913
01:28:48.600 --> 01:28:51.680
and the money, and then that includes unlimited times to

1914
01:28:51.720 --> 01:28:54.279
mess with your plan and change it. It go over

1915
01:28:54.319 --> 01:28:56.399
in scenarios. Happy to meet as much as you want.

1916
01:28:56.399 --> 01:28:58.439
On average, probably two times a year, but if you

1917
01:28:58.439 --> 01:29:00.279
want to be more, we're happy to do it.

1918
01:29:00.880 --> 01:29:02.560
You get your stuff together, your community to do the

1919
01:29:02.600 --> 01:29:05.000
financial plan. The guy should then spend a little time

1920
01:29:05.000 --> 01:29:07.680
with it. They come back with the idea how they

1921
01:29:07.680 --> 01:29:10.640
would handle your plan. If you decide to become a client,

1922
01:29:11.319 --> 01:29:13.039
you pick that up and then you walk out the door.

1923
01:29:13.119 --> 01:29:15.159
No obligation. You'll never hear from us again.

1924
01:29:15.239 --> 01:29:15.880
Yeah, we'll send you the plan.

1925
01:29:15.920 --> 01:29:17.960
We will send you the risk talent's question there, The

1926
01:29:17.960 --> 01:29:20.319
biggest thing with the plan is we go over your goals.

1927
01:29:20.800 --> 01:29:25.920
We build the initial plan based on your ideal retirement,

1928
01:29:26.000 --> 01:29:28.640
what is your fairy tale retirement and if it can

1929
01:29:28.680 --> 01:29:31.600
work that way pretty easy. If we have to change

1930
01:29:31.640 --> 01:29:34.119
a couple of things, then we show you what changes

1931
01:29:34.159 --> 01:29:35.920
you have to make to make it work. Sometimes you

1932
01:29:35.960 --> 01:29:37.399
got to spend a little less money. But for the

1933
01:29:37.399 --> 01:29:41.399
most part, people are okay, they've done well, they've saved well,

1934
01:29:41.439 --> 01:29:43.359
they've set themselves up for the retirement that they've been

1935
01:29:43.359 --> 01:29:46.720
planning and wanting for their life. So it just helps

1936
01:29:46.720 --> 01:29:48.640
them visualize it. We have it on the TV. We're

1937
01:29:48.920 --> 01:29:50.760
going through with you. We don't just sit behind a

1938
01:29:50.760 --> 01:29:52.760
computer while you look at the back of a computer

1939
01:29:52.800 --> 01:29:55.039
and we push it in the punching the numbers.

1940
01:29:55.079 --> 01:29:58.159
And this is a very The level of sophistication for

1941
01:29:58.239 --> 01:30:01.359
a free financial plan is ridiculus, very interactive.

1942
01:30:01.560 --> 01:30:02.359
It's ridiculous.

1943
01:30:02.359 --> 01:30:03.520
Nobody else is encompassing.

1944
01:30:03.800 --> 01:30:06.640
Just because it's free doesn't mean it's bad, no, you

1945
01:30:06.640 --> 01:30:08.680
know what I mean. It doesn't matter if you're paying

1946
01:30:08.720 --> 01:30:11.760
us five grand or it's free. We're doing the same

1947
01:30:12.199 --> 01:30:14.840
financial plan that we would do for anybody. Right.

1948
01:30:14.960 --> 01:30:17.880
But Deanie and I've been seeing financial punts for a

1949
01:30:17.880 --> 01:30:18.279
lot of years.

1950
01:30:18.319 --> 01:30:19.800
But they don't give it to him either after they've

1951
01:30:19.800 --> 01:30:22.359
done well. It used to be the sellinuities and insurance

1952
01:30:22.479 --> 01:30:24.800
pretty much all right, and it's changed. I was talking

1953
01:30:24.840 --> 01:30:28.479
to somebody that's been in the business, yeah, almost as

1954
01:30:28.720 --> 01:30:30.960
long as we are, not really twenty five years, okay,

1955
01:30:31.439 --> 01:30:32.960
And he's back in New York and I was just

1956
01:30:33.000 --> 01:30:34.600
talking to him about it, and he's been in uh,

1957
01:30:35.079 --> 01:30:37.119
trying to, you know, kind of go in this direction

1958
01:30:37.199 --> 01:30:39.880
that we've been doing since the nineties, you know, where

1959
01:30:39.920 --> 01:30:43.520
you're managing feed business. And it was it was amazing

1960
01:30:44.239 --> 01:30:46.840
what he was telling me. He wanted, He said, Dan,

1961
01:30:46.880 --> 01:30:49.119
I had this great idea. I've been just getting some

1962
01:30:49.159 --> 01:30:50.960
people in it and I and I put him in

1963
01:30:51.039 --> 01:30:54.039
these mutual funds that I get a back end trail

1964
01:30:54.079 --> 01:30:58.000
and then I buy treasuries with it. And I said, okay,

1965
01:30:58.079 --> 01:31:00.479
you're getting a fee. How you doing it? He goes, no,

1966
01:31:00.520 --> 01:31:02.479
I just buy the bonds that I do. I said,

1967
01:31:02.880 --> 01:31:05.399
what do you do? What do you do for it? Yeah?

1968
01:31:05.680 --> 01:31:07.800
What do you mean? He said? He didn't even understand

1969
01:31:07.800 --> 01:31:10.960
a management agreement And they be able to work it,

1970
01:31:11.039 --> 01:31:14.199
and you actually are managing the money for people along

1971
01:31:14.239 --> 01:31:16.119
with it. So then I talked to not only him,

1972
01:31:16.199 --> 01:31:20.279
but a couple other people about a financial doing financial planning.

1973
01:31:20.880 --> 01:31:22.399
I don't want to do the fund, I said, listen,

1974
01:31:22.800 --> 01:31:25.880
you know that A part that was me until I

1975
01:31:25.960 --> 01:31:28.399
see what's going on. I said, yes, it used to

1976
01:31:28.439 --> 01:31:30.680
be for insurance and this and that. I said, I

1977
01:31:30.720 --> 01:31:34.000
can't believe how happy people are. And it doesn't matter

1978
01:31:34.039 --> 01:31:37.840
that they have one hundred grand or they got twenty

1979
01:31:37.840 --> 01:31:41.920
five million. Everybody wants to see where they are and

1980
01:31:41.960 --> 01:31:44.680
what they're doing and feel comfortable. And if nothing else,

1981
01:31:45.239 --> 01:31:48.960
it brings it all together in one report if you

1982
01:31:48.960 --> 01:31:50.479
have stuff, because if you've got a lot of money,

1983
01:31:50.479 --> 01:31:51.680
it's all over the place.

1984
01:31:51.760 --> 01:31:53.560
Right and it forced you to together it all together,

1985
01:31:53.600 --> 01:31:55.520
and it forces you to talk about it with your wife.

1986
01:31:56.680 --> 01:31:58.880
And then that's why we have a family office. We

1987
01:31:58.880 --> 01:32:02.680
have a state planning, We have an accountant in the offer,

1988
01:32:02.800 --> 01:32:06.159
we have attorneys here. We got everything to help you

1989
01:32:06.319 --> 01:32:07.239
be the best you can be.

1990
01:32:07.520 --> 01:32:09.239
Yeah, and I mean that. We talked about it last

1991
01:32:09.239 --> 01:32:09.600
week too.

1992
01:32:09.600 --> 01:32:12.439
For those who tuned in into the the estate planning

1993
01:32:12.560 --> 01:32:14.319
firm is on its own, but he works out of

1994
01:32:14.319 --> 01:32:17.720
our office. The tax planning Johnson John's group has their

1995
01:32:17.760 --> 01:32:20.600
own office over on Oracle. But we all work in tandem.

1996
01:32:20.720 --> 01:32:22.640
If you're a client of ours, you're working with those

1997
01:32:22.640 --> 01:32:24.520
two as well. We all work in tandem to try

1998
01:32:24.560 --> 01:32:26.600
and give you the easiest experience of your to help

1999
01:32:26.680 --> 01:32:28.720
you through your financial life.

2000
01:32:29.239 --> 01:32:32.239
Yeah, and we have somebody in it virtually every area.

2001
01:32:32.279 --> 01:32:33.760
I mean it dot matter what you want, whether it

2002
01:32:33.760 --> 01:32:38.000
be accountant or a lawyer or whatever you need in

2003
01:32:38.039 --> 01:32:40.399
your life. I have a client of mind that called

2004
01:32:40.439 --> 01:32:44.319
me and wanted to know a good electrician, and the

2005
01:32:44.399 --> 01:32:46.239
guy came over and did the work for us. She goes,

2006
01:32:46.319 --> 01:32:48.640
this is the ninth one you've given me. That's been great.

2007
01:32:49.319 --> 01:32:51.239
The ninth person me.

2008
01:32:51.239 --> 01:32:53.279
And Dylan got a client that he's about thirty four

2009
01:32:53.359 --> 01:32:55.000
years old and he was on his way to purchase

2010
01:32:55.000 --> 01:32:58.279
a home and he send us the numbers, sent us, hey,

2011
01:32:58.279 --> 01:33:00.159
can you throw this into the plan really quick? Is

2012
01:33:00.199 --> 01:33:01.439
this going to be able to work out for me?

2013
01:33:01.800 --> 01:33:03.800
And we said, yeah, go pull the trigger.

2014
01:33:03.840 --> 01:33:04.039
Man.

2015
01:33:04.520 --> 01:33:05.319
I still get people.

2016
01:33:05.319 --> 01:33:06.880
It was a really cool experience.

2017
01:33:06.920 --> 01:33:09.920
Actually, I still get people calling me Dean, what do

2018
01:33:09.960 --> 01:33:13.000
I get a good pastami sandwich? Yeah? Yeah?

2019
01:33:13.239 --> 01:33:14.800
Or do you know everybody that can get a deal

2020
01:33:14.840 --> 01:33:18.760
on a car. Yeah, it's just such a wide myriad.

2021
01:33:19.119 --> 01:33:22.199
Uh Intel in the news again this week and see

2022
01:33:22.199 --> 01:33:24.920
if the shares were up eight percent. On Tuesday, Reuters

2023
01:33:24.960 --> 01:33:28.640
reported that Taiwan Semi has raised the prospect of a

2024
01:33:28.720 --> 01:33:33.439
joint venture with Nvidia, a MD and Broadcom to operate

2025
01:33:33.600 --> 01:33:36.680
Intel's foundry division. Then we talked about that planet in

2026
01:33:36.720 --> 01:33:39.640
Phoenix foundry and going to be manufacturing trips for a

2027
01:33:39.680 --> 01:33:42.399
lot of people. Apparently that's going to be Intel's future.

2028
01:33:42.520 --> 01:33:45.119
That wasn't even the biggest news though. With the CEO change.

2029
01:33:44.920 --> 01:33:46.720
Of the CEO change is huge.

2030
01:33:47.359 --> 01:33:50.239
They got a CEO that's pretty well thought of and

2031
01:33:50.279 --> 01:33:52.079
hopefully you can get them on the right drive.

2032
01:33:52.119 --> 01:33:54.479
It's a probably good chance. Before he became CEO, he

2033
01:33:54.600 --> 01:33:56.640
was talking to them about doing something in that too.

2034
01:33:56.680 --> 01:33:58.680
I'm thinking, yeah, you know what I mean, these guys

2035
01:33:58.760 --> 01:34:00.640
all talk, they all know each other. Well, he's from

2036
01:34:00.640 --> 01:34:01.239
that business.

2037
01:34:01.279 --> 01:34:04.159
But it could be that that's Intel's future or just

2038
01:34:04.199 --> 01:34:07.439
a manufacturing facility for others, which is fine, right, And

2039
01:34:07.720 --> 01:34:08.840
you make a living doing that?

2040
01:34:09.119 --> 01:34:12.720
Yeah, Well they want money, did you? Yeah? You you

2041
01:34:12.800 --> 01:34:13.760
had to show profitable.

2042
01:34:13.880 --> 01:34:15.600
What's special that's a Taiwan does it?

2043
01:34:15.680 --> 01:34:15.880
Yeah?

2044
01:34:15.880 --> 01:34:16.640
Of course you can make.

2045
01:34:16.520 --> 01:34:17.760
A living doing how about your Pepsi.

2046
01:34:18.520 --> 01:34:21.000
Yo, yo, it's all all over the place.

2047
01:34:21.000 --> 01:34:24.119
You've been touting Pepsi around the office. How much you'll

2048
01:34:24.159 --> 01:34:29.199
love Pepsi, Pepsi. What happened this week? Downgrade from Jefferies.

2049
01:34:29.439 --> 01:34:31.560
Yeah, I don't think it's the sod who likes. It's

2050
01:34:31.600 --> 01:34:32.079
all the snack.

2051
01:34:32.159 --> 01:34:34.319
It's all it's all the snacks. And it's the fact

2052
01:34:34.319 --> 01:34:37.720
that they're taking their distribution right now, pet Dave, Pepsi

2053
01:34:37.760 --> 01:34:40.800
has a distribution in the sense of, Okay, you send

2054
01:34:40.800 --> 01:34:42.880
the trucks with the sodas and you send the trucks

2055
01:34:42.960 --> 01:34:45.279
with the chips. They're going to merge every single one

2056
01:34:46.439 --> 01:34:49.720
both of those into one truck, right. That's a cut.

2057
01:34:49.840 --> 01:34:52.840
That's that come to think about it is uh.

2058
01:34:54.399 --> 01:34:56.479
Yeah, I mean what you and I have talked about

2059
01:34:56.479 --> 01:34:59.840
it before. Pepsi's big move is an effort to cut costs,

2060
01:35:00.039 --> 01:35:03.439
try to maintain margins. It's trying. They're trying to survive

2061
01:35:04.439 --> 01:35:06.199
because of some brilliant new idea.

2062
01:35:06.359 --> 01:35:08.199
No, it's not a going forward. It's going to be

2063
01:35:08.199 --> 01:35:10.399
a Pepsi and Evy tesla. There you go.

2064
01:35:11.159 --> 01:35:14.239
You can actually buy a trunk a cooler for the

2065
01:35:14.279 --> 01:35:17.039
trunk of the tesla. That plugs in, and I'm thinking

2066
01:35:17.079 --> 01:35:19.039
that's why I need another thing, another thing drawn on

2067
01:35:19.079 --> 01:35:19.560
the battery.

2068
01:35:19.880 --> 01:35:22.840
Right, all right, people, we are coming to the conclusion

2069
01:35:22.880 --> 01:35:25.720
of our two hour show. Remember there's many places to

2070
01:35:25.760 --> 01:35:28.199
see it here, go back and listen to it. If

2071
01:35:28.239 --> 01:35:30.039
you need to come and talk to us, set up

2072
01:35:30.039 --> 01:35:32.479
an appointment, would be glad to go over. Do anything

2073
01:35:32.520 --> 01:35:35.119
that you need to help you out. We are here

2074
01:35:35.159 --> 01:35:38.079
for you. We educate you, we help you, we answer

2075
01:35:38.119 --> 01:35:40.439
your questions. This is what we do. We'll be back

2076
01:35:40.479 --> 01:35:43.960
next week with your money matters. Be happy, be healthy,

2077
01:35:44.520 --> 01:35:46.319
and we all want to strive to be