Inflation is Slowing - Will Interest Rates Drop?

1 00:00:02,399 --> 00:00:07,839 Good morning, everybody. I'm back. It's Sunday morning. It's money matters 2 00:00:08,160 --> 00:00:12,960 right here at seven ninety am. Okay, and it's two This is gonna 3 00:00:12,960 --> 00:00:15,320 We're gonna bring you this for two hours. We've got a lot to talk 4 00:00:15,359 --> 00:00:19,039 about. We got a lot to talk about. The markets have been going 5 00:00:19,399 --> 00:00:24,719 up and up and up, and if you think that they're going to continue 6 00:00:24,719 --> 00:00:30,079 to go up, maybe they will, but I don't really see it. 7 00:00:30,320 --> 00:00:33,840 And I know I've been saying that, and we're coming into that timeframe now 8 00:00:33,880 --> 00:00:37,520 of August, September, October, and the higher we've gone, we've let 9 00:00:37,560 --> 00:00:41,359 it stretch. I get a little bit more nervous each time. We're gonna 10 00:00:41,359 --> 00:00:47,119 talk about how you can protect yourself right now where the markets are, unless 11 00:00:47,159 --> 00:00:50,799 you believe we're going up to new Hives, which if you are, give 12 00:00:50,840 --> 00:00:53,719 me a phone call and tell me why. Because at the end of the 13 00:00:53,799 --> 00:00:58,000 day, I don't see the liquidity there to do it. I don't see 14 00:00:58,039 --> 00:01:03,200 the valuations to be able to do it, and I don't see the institutions 15 00:01:03,519 --> 00:01:07,640 wanting to do it. So with that said, how are we going to 16 00:01:07,680 --> 00:01:10,640 get it up there? It's got to be more than seven stocks that I 17 00:01:10,640 --> 00:01:12,159 can tell you all right, this is the money amount of show that is 18 00:01:12,159 --> 00:01:18,040 brought to you by Greenberg Financial Group. Greenberg Financial Group is both a registered 19 00:01:18,079 --> 00:01:21,200 and an investment advisory and they broke a dealer or registered with the SEC. 20 00:01:21,879 --> 00:01:25,920 Members of FINER and members of SIPPIC. On the show, we talk about 21 00:01:25,959 --> 00:01:29,879 different products, different strategies and different ideas. We all have our own opinions. 22 00:01:30,239 --> 00:01:34,000 Every one of those carry some type of risk. We highly suggest you 23 00:01:34,120 --> 00:01:40,480 understand those risks prior to investing. Risk is there all the time. Sometimes 24 00:01:40,480 --> 00:01:45,879 you've got greater risk then you have reward. Sometimes the risk is less and 25 00:01:45,959 --> 00:01:49,000 reward is greater. Right now, I think the risk is greater, especially 26 00:01:49,000 --> 00:01:53,680 with the FED talking about raising interest rates again. The markets were up this 27 00:01:53,760 --> 00:01:57,280 week two percent on the Dow, two and a half percent on the SMP. 28 00:01:57,799 --> 00:02:04,120 Now's that three percent, and the equal weighted was up two point four 29 00:02:04,159 --> 00:02:07,120 so the same thing as the SMP. You're seeing the money spread out a 30 00:02:07,159 --> 00:02:10,639 little bit, but that's just on the year to the week and month. 31 00:02:12,000 --> 00:02:16,759 The year to day, the equal weighted equal weighted SMP five hundred is still 32 00:02:16,800 --> 00:02:27,319 ten percent lower than the regular SMP five hundred, and it's twenty eight percent 33 00:02:27,400 --> 00:02:31,280 lower than the navstack. So what does it really tell you? And the 34 00:02:31,400 --> 00:02:36,560 Dow is only up four percent for the year, well, the smps up 35 00:02:36,599 --> 00:02:39,319 seventeen, the nastacks up thirty four, and the equal weighted is only up 36 00:02:39,360 --> 00:02:43,840 seven What does that tell you? That tells you lately that the other stocks, 37 00:02:43,879 --> 00:02:47,520 the broadest stocks are start equal out in the SMP. But but those 38 00:02:47,560 --> 00:02:53,240 seven eight stocks that drove this SMP and in all obviously not in the DAW, 39 00:02:54,439 --> 00:02:59,000 but they are in the NASDAC, and there's gonna be a little change 40 00:02:59,000 --> 00:03:01,840 over with that as they go through. The SMP is looking how to change 41 00:03:01,840 --> 00:03:07,039 the equal weighting a little bit because they don't want your seven stocks driving the 42 00:03:07,080 --> 00:03:14,159 market. It doesn't make sense, and it makes valuations very very high. 43 00:03:14,319 --> 00:03:20,520 I understand artificial intelligence. I understand all the new things that are coming out 44 00:03:20,560 --> 00:03:24,599 with technology. I understand the video, I understand Tesla, I understand Microsoft 45 00:03:24,639 --> 00:03:30,439 and all these and then obviously the Microsoft Active Vision deal it was at least 46 00:03:30,479 --> 00:03:34,599 pushed back to look for more evidence to allow it to happen. There's good 47 00:03:34,639 --> 00:03:39,240 things on the horizon, but the valuations are so high, and maybe that 48 00:03:39,280 --> 00:03:42,840 doesn't mean anything to you. It means something to me. I know, 49 00:03:42,879 --> 00:03:46,080 on a short term basis, there's nothing worse than feeling like you're being left 50 00:03:46,080 --> 00:03:51,479 behind. But we remember the type of investor you are. Are you a 51 00:03:51,520 --> 00:03:55,080 conservative investor? You are balanced investor? You all you know to the wall 52 00:03:55,319 --> 00:04:02,080 type of investor aggressive as anything. Most of you are not very few people 53 00:04:02,120 --> 00:04:06,199 aggressive. Sure, and your little trading accounts that you have, when you 54 00:04:06,280 --> 00:04:10,639 do it and you buy the amazons and the apples in the microsauce, sure 55 00:04:10,680 --> 00:04:15,639 they're gonna be great. They're gonna outperform. But an overall portfolio has those 56 00:04:15,680 --> 00:04:20,480 in there as a percentage, small percentage, not twenty five percent or even 57 00:04:20,519 --> 00:04:27,000 fifteen percent usually of your account. A balanced portfolio is fixed income in it 58 00:04:27,040 --> 00:04:31,399 has growth stocks in it has value stocks in its, high yield stocks in 59 00:04:31,439 --> 00:04:35,279 it. They have a whole bunch of different things in it, and it 60 00:04:35,319 --> 00:04:43,399 balances out. And that's why the SMP is up seventeen, but the equal 61 00:04:43,480 --> 00:04:47,759 right it is up only seven because it's across the board. And that's how 62 00:04:47,800 --> 00:04:51,040 you have to look at your portfolios. A balance account has income, Well, 63 00:04:51,079 --> 00:04:56,160 we finally can get some income. You can finally get four five percent 64 00:04:56,319 --> 00:05:03,680 in good quality income. Then you don't have to stretch risk and you were 65 00:05:03,720 --> 00:05:09,600 able to go ahead and balance out your account because eventually, here what income 66 00:05:09,680 --> 00:05:13,439 does for you with the markets drop, the income keeps into coming into the 67 00:05:13,480 --> 00:05:16,319 portfolio to all set the market drop. We still haven't had that. Why 68 00:05:16,439 --> 00:05:20,639 am I soul concerned and cautious? Still, Well, let's face it, 69 00:05:20,720 --> 00:05:25,800 guys. You hear about the valuations, so I don't have to go over 70 00:05:25,879 --> 00:05:29,879 that again. But one of the things I've been watching is the balance sheet 71 00:05:29,920 --> 00:05:33,079 of the Federal Reserve, and they keep reducing it and reducing and reducing it, 72 00:05:33,160 --> 00:05:38,680 which means they're selling off their assets. We were at the same level 73 00:05:38,759 --> 00:05:44,160 we were at twenty nineteen when we had a mini run on the Federal Reserve, 74 00:05:44,639 --> 00:05:46,759 and that was for a day or two and they were able to go 75 00:05:46,800 --> 00:05:53,000 ahead and rectify that. But the markets drop really fast. Then we had 76 00:05:53,040 --> 00:05:58,199 twenty twenty and the stability was not there. When we first came out about 77 00:05:58,199 --> 00:06:02,519 the pandemic burn, the markets fell, but then they came rolling back because 78 00:06:02,560 --> 00:06:06,720 the FED did the changes they needed to. The FED is not easing right 79 00:06:06,759 --> 00:06:12,959 now, they are tightening. They are raising rates in the face of recession, 80 00:06:13,959 --> 00:06:18,040 of possibility and the raising rates with the idea that inflation is coming down. 81 00:06:18,079 --> 00:06:21,720 They're not giving it time. They are combating it every single month. 82 00:06:21,759 --> 00:06:25,839 We had one pause. That's what the markets like. That's why the markets 83 00:06:25,839 --> 00:06:30,519 are higher. We saw good CPI numbers and that's what happened. Right, 84 00:06:30,879 --> 00:06:35,000 So now where are we. We're at forty five hundred on the SMP five 85 00:06:35,120 --> 00:06:40,839 hundred, at thirty nine hundred. The markets were overvalued at forty five hundred, 86 00:06:40,920 --> 00:06:45,439 you gotta believe it definitely overvalued. That doesn't mean it can't go higher. 87 00:06:45,680 --> 00:06:47,639 So you have to invest with the idea that you're gonna make money if 88 00:06:47,680 --> 00:06:53,360 it goes higher, but you just won't make as much and you can't be 89 00:06:53,439 --> 00:06:57,600 upset about that. If you are a conservative, balanced type of portfolio, 90 00:06:57,639 --> 00:07:04,160 which ninety ninety five percent portfolios should be an awe. And what happens is 91 00:07:04,600 --> 00:07:10,079 you still have you separate it out. Look at what your what your growth 92 00:07:10,079 --> 00:07:14,120 portfolio has done, and then look at your fixed income. Separate it out. 93 00:07:14,240 --> 00:07:17,839 Is your growth portfolio actually grown as your growth stocks up like the NASDAC 94 00:07:17,920 --> 00:07:24,199 in the SMP, they should be for the most part. Let's face it, 95 00:07:24,480 --> 00:07:27,879 the video has gone ridiculously high. It was one hundred and twenty no 96 00:07:27,920 --> 00:07:32,600 one wanted, and it's four hundred and eighty now and everybody wants it. 97 00:07:32,600 --> 00:07:35,879 It's gonna take time with them chips doing. I think it's another couple of 98 00:07:35,959 --> 00:07:39,800 quarters, all right, and it can probably get the five five fifty, 99 00:07:39,839 --> 00:07:43,240 and then you gotta be careful. Well, you should be careful here now 100 00:07:43,279 --> 00:07:46,879 anyway, because the idea is you take some of your winnings off. It 101 00:07:46,959 --> 00:07:50,160 is too big of a position and gets what happened when it goes down, 102 00:07:50,959 --> 00:07:55,279 It brings your whole portfolio down. So the idea is, how do you 103 00:07:55,279 --> 00:07:59,839 protect yourself. Well, you compare back your positions that are way too high 104 00:08:00,079 --> 00:08:03,759 right now. That doesn't mean you sell it the whole position. But if 105 00:08:03,800 --> 00:08:05,240 you had two hundred chairs in the video, maybe you go down to one 106 00:08:05,439 --> 00:08:09,720 fifty. If you had two hundred chairs and Microsoft, maybe you go down 107 00:08:09,759 --> 00:08:13,000 to one fifty or one hundred Apple, same thing. You just take off 108 00:08:13,079 --> 00:08:16,000 some money from the big positions that have run up. The other positions haven't 109 00:08:16,079 --> 00:08:22,360 run that much. You reduce your risk exposure to the ones that have done 110 00:08:22,360 --> 00:08:24,360 the most. And guess what. Put it in the money market fund, 111 00:08:24,839 --> 00:08:28,399 put in government buns earn five percent, four and a half percent whatever they're 112 00:08:28,399 --> 00:08:33,159 paying right now, that will benefit you. And now with those stocks pulled 113 00:08:33,159 --> 00:08:39,960 back ten percent to so go back in and those shares to it. That's 114 00:08:39,960 --> 00:08:43,600 how you make money over time on stocks that are rising. They all have 115 00:08:43,639 --> 00:08:48,440 pullbacks at some time. Remember that the markets do not have the liquidity with 116 00:08:48,639 --> 00:08:54,679 the Federal Reserve tightening right now. I am concerned August, September, October, 117 00:08:54,919 --> 00:08:58,399 which are the bad months of the year, that if any little thing 118 00:08:58,440 --> 00:09:01,159 happens, we can still see it pretty big sell off pretty quickly. I'm 119 00:09:01,200 --> 00:09:05,240 not saying twenty thirty. I'm saying a good you know, five ten percent. 120 00:09:05,919 --> 00:09:09,080 It could happen. We could go right back down to thirty nine and 121 00:09:09,240 --> 00:09:15,440 more, depending on why it's happening. I still think eventually it will work 122 00:09:15,480 --> 00:09:18,759 its way down, whether it's later this year or next year. But just 123 00:09:18,840 --> 00:09:22,159 because I think that doesn't mean I'm not going to make money as the markets 124 00:09:22,159 --> 00:09:26,320 are going higher. You can hedge your accounts by buying some of the inverse 125 00:09:26,360 --> 00:09:31,000 funds, which go down as the market goes up, but you're making money 126 00:09:31,000 --> 00:09:33,840 on everything else. You can buy money, but you can put up some 127 00:09:33,879 --> 00:09:37,600 money and buy put options that go out six months a year. If the 128 00:09:37,639 --> 00:09:43,039 markets fold, those go up in value exponentially. But if the markets go 129 00:09:43,159 --> 00:09:45,879 up, they lose value and you lose the money. But you know what 130 00:09:45,960 --> 00:09:50,840 your risk is in doing it. These are way to mitigate risk while still 131 00:09:50,919 --> 00:09:54,759 making money while the markets are going higher. You also know that things that 132 00:09:54,840 --> 00:09:58,600 go up eventually come down at some time. We just don't know when, 133 00:09:58,639 --> 00:10:01,559 how or when they do it. But they've over expanded. To think about 134 00:10:01,559 --> 00:10:07,399 a rubber band that justice has expanded so much, and now eventually when it 135 00:10:07,480 --> 00:10:11,279 stops back, it goes the other way. No different when the markets went 136 00:10:11,360 --> 00:10:16,039 down more than they should. I really hope there is no problems coming up. 137 00:10:16,080 --> 00:10:20,399 If we keep raising interest rates, you're going to have a banking problem. 138 00:10:20,240 --> 00:10:26,399 I keep listening to Jamie Diamond, who is one of the premier CEOs 139 00:10:26,480 --> 00:10:30,360 of one of the best banks in the world, JP Morgan, and he 140 00:10:30,399 --> 00:10:33,480 continues to tell us as banking crisis is not over, there's going to be 141 00:10:33,559 --> 00:10:37,120 a problem. And I don't think he's talking about the big banks. I 142 00:10:37,120 --> 00:10:41,840 think he's talking about the regional banks, because as interest rates continue to go 143 00:10:41,919 --> 00:10:45,720 up, it's going to be a problem. As we continue continue to see 144 00:10:45,759 --> 00:10:50,960 what's happening in the country with people wanting to stay at home and commercial office 145 00:10:50,960 --> 00:10:56,879 space being reduced because they don't need as much. The real estate market is 146 00:10:56,919 --> 00:11:01,799 going to get hurt. On the commercial side. I understand the retail side 147 00:11:01,879 --> 00:11:05,440 is doing well, it's all about inventory. Well, if it's about inventory 148 00:11:05,480 --> 00:11:09,559 there and then we have a glut of commercial space or the commercial markets will 149 00:11:09,559 --> 00:11:15,720 get hit. Does it mean the retail law you know, the grocery stores 150 00:11:15,759 --> 00:11:20,480 and stuff, the retail shopping malls because people still have to go and get 151 00:11:20,519 --> 00:11:24,080 what they need. But you could see that with big businesses and the biggest 152 00:11:24,120 --> 00:11:28,320 cities and all when people are reducing because let's face it, they can keep 153 00:11:28,320 --> 00:11:31,360 telling people to come back to work, but they don't come back to work 154 00:11:33,120 --> 00:11:35,799 all right. They want to have a three day work week, So you 155 00:11:35,840 --> 00:11:37,320 know, they don't mean as much space. They're gonna be having shared space. 156 00:11:37,720 --> 00:11:41,200 There's a there's a change going on which we know, and companies are 157 00:11:41,200 --> 00:11:45,120 gonna have to deal with it. And you know, as much as the 158 00:11:45,159 --> 00:11:48,960 pendulum has swung all the way to the left, it's coming back a little 159 00:11:48,960 --> 00:11:52,799 bit and eventually we'll get in the middle and kind of come to a compromise 160 00:11:52,840 --> 00:12:00,120 on how we do all this. But be careful, be cautious. I 161 00:12:00,159 --> 00:12:03,960 don't care if the markets keep going up. Right now the overvalued in my 162 00:12:03,080 --> 00:12:09,039 opinion, and they're also the That doesn't mean I'm selling everything I'm holding, 163 00:12:09,759 --> 00:12:11,799 but I'm looking how to mitigate risk. If you don't know how to mitigate 164 00:12:11,879 --> 00:12:16,440 risk, if and you're too nervous, call us. That's all. It's 165 00:12:16,440 --> 00:12:20,039 that easy. We'll go over it, will review your portfolio, will do 166 00:12:20,080 --> 00:12:22,000 the plan for you, would do all that stuff, and if that works 167 00:12:22,000 --> 00:12:28,240 for you, great, But just sitting there saying, ah, the markets 168 00:12:28,240 --> 00:12:31,120 were down and everyone was worried about it and just went up. Right, 169 00:12:31,159 --> 00:12:35,039 But now's the time. This is no different than a year ago when we 170 00:12:35,039 --> 00:12:39,279 were telling people at forty seven forty eight hundred, you know what, we 171 00:12:39,360 --> 00:12:41,360 think the markets got some trouble and it kept going higher, and then all 172 00:12:41,399 --> 00:12:46,240 of a sudden, next thing, you know, we're down thirty percent almost, 173 00:12:46,919 --> 00:12:50,720 And then everyone got scared and then they wanted to sell, and everyone 174 00:12:50,759 --> 00:12:52,840 told them to stay there. And you still don't do that. When the 175 00:12:52,879 --> 00:12:56,440 markets sell, you should have gone ahead and sold some of the stuff and 176 00:12:56,639 --> 00:13:00,799 piled it back in to all the good companies. And if you don't have 177 00:13:00,840 --> 00:13:03,039 two or three of those or four companies, or you don't have the ETFs 178 00:13:03,039 --> 00:13:09,240 which with all these tech companies, then you're missed out. And it doesn't 179 00:13:09,240 --> 00:13:13,000 mean you chase. We're not institutions that have a whole bunch of money that 180 00:13:13,120 --> 00:13:16,519 always come in. And if you buy the video at four eighty and it 181 00:13:16,559 --> 00:13:20,759 goes to three fifty, or they can buy more now, they keep their 182 00:13:20,759 --> 00:13:26,120 add their positions where they need to, they add to them. After they 183 00:13:26,159 --> 00:13:28,120 take off, they come back down. It all depends on how much they 184 00:13:28,120 --> 00:13:35,320 want to need stock. And in each area, the markets at a time 185 00:13:35,919 --> 00:13:37,840 sometimes risk reward. I think the risk is greater than the reward. Right 186 00:13:37,840 --> 00:13:41,960 now, we go down, and we fall down August, September, October 187 00:13:43,600 --> 00:13:46,000 to a point that I'll tell you the reward is greater than the risk, 188 00:13:46,039 --> 00:13:48,080 and we'll get back in. And if it's not this year, it's going 189 00:13:48,159 --> 00:13:50,879 to be next year. Something's gonna happen. Don't know how, don't know 190 00:13:50,919 --> 00:13:54,399 where. And if I'm wrong, I'm still gonna make money. Learn how 191 00:13:54,440 --> 00:13:58,919 to mitigate risk and make money. Even if you think the markets are going 192 00:13:58,919 --> 00:14:01,440 down in your cautious. If you sell everything and get out of everything, 193 00:14:03,600 --> 00:14:05,080 how are you going to get back in? You have to be one hundred 194 00:14:05,080 --> 00:14:07,879 percent right. I don't want to have to be in that position. I'd 195 00:14:07,879 --> 00:14:11,480 be one hundred percent right. But I don't want to be stupid and just 196 00:14:11,519 --> 00:14:13,399 be so bullish and thinking we're going to the moon. We're not going to 197 00:14:13,440 --> 00:14:18,559 the moon. Okay, so keep that in mind as we go through. 198 00:14:18,720 --> 00:14:22,279 All right, I want to see the switch subjects. Obviously a lot of 199 00:14:22,279 --> 00:14:24,399 you know, I've been gone for a while. Um did some We have 200 00:14:24,559 --> 00:14:28,080 some business I had to do over in Ireland. And once we were there, 201 00:14:28,120 --> 00:14:31,080 I told my wife, listen, we're gonna spend some time over here. 202 00:14:31,120 --> 00:14:35,759 We're gonna go some places and check them out and and uh and and 203 00:14:35,799 --> 00:14:39,519 go and get to know some people and do some things and and and just 204 00:14:39,679 --> 00:14:43,720 like enjoy the enjoy the trip. It's a long trip over Anyone that fly 205 00:14:43,000 --> 00:14:46,799 goes to Europe I has to do that understands that there's no way I'm going 206 00:14:46,879 --> 00:14:50,440 up there and coming back for a week. It's just too much. So 207 00:14:50,600 --> 00:14:56,120 we decided to spend some time more time in Ireland, Portugal and then Paris. 208 00:14:56,879 --> 00:15:01,759 I am going to tell you unequivably. And I don't know it's because 209 00:15:01,799 --> 00:15:07,279 of since the pandemic or not, but the world is friendlier. The people 210 00:15:07,720 --> 00:15:15,480 are friendlier, They are commendating to taurists. Didn't see a lot of Americans 211 00:15:15,519 --> 00:15:20,360 until we really got to Paris, but most of the other places we were 212 00:15:20,399 --> 00:15:24,559 in they were very accommodating to everybody. They went out of their way, 213 00:15:24,600 --> 00:15:28,600 they were polite, they wanted to service you. They wanted to do the 214 00:15:28,679 --> 00:15:33,159 things that you expect when you're on vacation or doing things or on a trip. 215 00:15:33,519 --> 00:15:37,639 And the way I like to go is not like a tourist. I'm 216 00:15:37,639 --> 00:15:41,039 not a tourist. I don't have to see every little thing everywhere. I 217 00:15:41,159 --> 00:15:45,399 like to be a traveler. I like to get to feel for the people, 218 00:15:45,559 --> 00:15:48,000 the area on that in, what's going on, what's the history of 219 00:15:48,039 --> 00:15:52,159 it, you know, and talk to people, and you know, talking 220 00:15:52,159 --> 00:15:54,600 to people in Ireland, talking to people in Portugal, talking to people in 221 00:15:54,600 --> 00:16:00,480 Paris. Guess what, we're pretty much all on the same page. They're 222 00:16:00,519 --> 00:16:06,320 all socialistic countries, right, but we all have something in common. We 223 00:16:06,399 --> 00:16:08,840 don't like people that don't want to work. We don't like the government. 224 00:16:10,120 --> 00:16:12,039 We do not trust the government. Nobody I spoke to when I want to 225 00:16:12,080 --> 00:16:17,679 spoke to one hundred and fifty people trust any of their governments. Paris, 226 00:16:17,919 --> 00:16:23,679 Portugal Island. Everyone complains, how are these governments in control if the people 227 00:16:23,720 --> 00:16:30,919 don't trust them? It's crazy. Another thing is nobody likes his woke stuff 228 00:16:30,960 --> 00:16:38,120 going on. Nobody. They don't like the transgender stuff being thrown down their 229 00:16:38,639 --> 00:16:45,080 down their throats. People are tolerable if everything goes on, they're open to 230 00:16:45,159 --> 00:16:48,360 it, no judgment, but they just feel it's being pounded on them and 231 00:16:48,399 --> 00:16:52,600 they're not allowed to make their own ways. And I wasn't just talking to 232 00:16:52,639 --> 00:16:56,399 conservative people, okay, because as you know, in some of these places 233 00:16:56,440 --> 00:17:00,799 they got three parties and and all at the end of the day. At 234 00:17:00,840 --> 00:17:03,759 the end of the day, everybody wants to be able to make their own 235 00:17:03,799 --> 00:17:10,759 decisions. They don't want the government making decisions for them. They don't want 236 00:17:10,799 --> 00:17:12,799 to go ahead and be giving stuff to people that don't want to work. 237 00:17:12,960 --> 00:17:18,240 They think, we're out of our minds. What Biden's doing on how he's 238 00:17:18,279 --> 00:17:25,400 leaving people come across the border. Nobody's doing that. Think about the riots 239 00:17:25,400 --> 00:17:30,359 that they had in Paris, Okay, and compare those riots and anksful with 240 00:17:30,440 --> 00:17:33,640 talking to people about this that we had in Seattle a few years ago. 241 00:17:36,319 --> 00:17:40,759 Seattle, what do they do? Some are love, burn the police, 242 00:17:41,039 --> 00:17:45,359 burn the cause, take over the city. Boom boom boom, And we 243 00:17:45,519 --> 00:17:52,680 let them and they were applauded and nobody went to jail. Paris go ahead 244 00:17:52,680 --> 00:18:00,400 and protests under the same circumstances of a policeman killing a black person a nature 245 00:18:00,000 --> 00:18:06,519 which just to not just it's not right. Okay, we don't know the 246 00:18:06,599 --> 00:18:11,160 details, but the bottom line is there were riots all around in France. 247 00:18:11,519 --> 00:18:17,200 Lasted three days. They locked up over two thousand people. They shut it 248 00:18:17,240 --> 00:18:19,200 down, and by the time we got there, nobody even talked about it 249 00:18:19,240 --> 00:18:25,279 was and nobody feared anything. You didn't have signs going up all over the 250 00:18:25,279 --> 00:18:30,440 place, you didn't have people rioting in the streets, you didn't have BLM 251 00:18:30,440 --> 00:18:33,759 posted all over in the streets. You didn't have everybody going ahead and going 252 00:18:33,799 --> 00:18:38,359 and doing the things that we allowed to happen in our country. And they're 253 00:18:38,400 --> 00:18:53,839 a socialist border communist. We allow these people in our country to criminalize our 254 00:18:53,839 --> 00:18:59,200 country without doing anything. They do not let that happen in those countries, 255 00:18:59,759 --> 00:19:04,160 you break the law, you're going to jail. In our countries, you 256 00:19:04,240 --> 00:19:10,680 break the law, you're getting out because they call racism. It's ridiculous. 257 00:19:11,000 --> 00:19:18,400 Our thoughts are worse than socialistic countries. That is the impression that I got 258 00:19:18,640 --> 00:19:25,960 in talking and speaking with all these people. We need to wake up, 259 00:19:26,079 --> 00:19:30,039 We need to think about what's going on in our country. We need to 260 00:19:30,039 --> 00:19:37,079 start fighting back and making people realize we're we're going it's because we think everyone's 261 00:19:37,119 --> 00:19:44,039 like this to not And then the other side is most people agree in France, 262 00:19:44,880 --> 00:19:48,839 okay, that they have to raise the social security age because they're giving 263 00:19:48,839 --> 00:19:52,599 away everything and they're not going to run out of money. But the few 264 00:19:52,720 --> 00:20:00,039 people on the left that love the riot want to riot about that. We 265 00:20:00,160 --> 00:20:04,480 all do in the same situation. We just understand a little bit better about 266 00:20:04,599 --> 00:20:07,759 the economy and that we need to do that even though they we're not happy. 267 00:20:07,960 --> 00:20:11,240 But no one's doing anything about it in the world to fix things. 268 00:20:12,799 --> 00:20:21,200 Nobody is fixing things now. Some of you know, because I know the 269 00:20:21,200 --> 00:20:26,079 guys he had talked about it. I got hurt the first week and I 270 00:20:26,119 --> 00:20:32,319 was in the hospital for a night in Ireland Public Hospital, and I am 271 00:20:32,359 --> 00:20:37,640 telling you. From the time they got me from the hotel and put me 272 00:20:37,680 --> 00:20:41,759 in the ambulance till we got to the hospital, they could not be nicer, 273 00:20:44,079 --> 00:20:48,480 couldn't be nicer. Now I don't know, it's of course they liked 274 00:20:48,559 --> 00:20:55,599 us, and the e MT knew some people to hospital or whatever, but 275 00:20:55,680 --> 00:21:00,960 it was it was not a bad experience other than the fact nothing can get 276 00:21:00,000 --> 00:21:07,559 done. Everybody's overworked, not enough people on staff. There's where the problem 277 00:21:07,680 --> 00:21:10,759 is. We don't want to fix the problems that we need. We don't 278 00:21:10,799 --> 00:21:12,759 want to put the money to where we need to. We want to give 279 00:21:12,799 --> 00:21:17,359 it away. They need to hire more people just over there with us, 280 00:21:17,920 --> 00:21:21,839 the public hospital, the public things. You're limited. It takes time to 281 00:21:21,880 --> 00:21:27,799 do everything. Every single hallway had seven to ten of us on beds in 282 00:21:27,920 --> 00:21:34,039 the hallway. Luckily, by three o'clock in the morning they got me a 283 00:21:34,039 --> 00:21:41,640 private room. Then the doctors came in, X rays, CT scan all 284 00:21:41,640 --> 00:21:45,759 the stuff I needed. And at the end of the day they could not 285 00:21:45,880 --> 00:21:51,559 be nicer except anyone that knows when you blow out a knee and it's swelling 286 00:21:51,640 --> 00:21:56,319 up, you need ice and you need to elevate it. No, I 287 00:21:56,359 --> 00:22:00,519 had to keep yelling, not yelling getting the nurses attention. When I was 288 00:22:00,559 --> 00:22:03,480 in the hallway to get me some ice. One time they got me ice. 289 00:22:04,599 --> 00:22:07,160 They didn't give me anything to put under my leg to elevate it. 290 00:22:07,279 --> 00:22:11,519 Those are two simple things, I know. They kept saying, I'm sorry, 291 00:22:11,599 --> 00:22:14,960 we're understaffed. I gotta deal with this. I said, I get 292 00:22:15,039 --> 00:22:18,000 it, no problem. Please just get me some ice, or get me 293 00:22:18,079 --> 00:22:21,839 pain pills. Okay, get me something. Because I was in a lot 294 00:22:21,880 --> 00:22:25,319 of pain that night. I couldn't move. I thought I broke my hip. 295 00:22:26,519 --> 00:22:29,720 My back was hurt and at my knee. They said, I told 296 00:22:29,720 --> 00:22:30,880 my acl or something. I don't know yet. I just got home. 297 00:22:30,920 --> 00:22:34,559 I got to check it out next week. But at the end of the 298 00:22:34,640 --> 00:22:40,200 day, it was a pretty good overall experience. They went out of the 299 00:22:40,319 --> 00:22:45,720 way to take my wife from the hospital back to the hotel. They brought 300 00:22:45,720 --> 00:22:51,039 her back twice over over the next twenty four hours. Back and forth. 301 00:22:52,559 --> 00:23:00,079 People cared. They cad, that was the great part. In our country, 302 00:23:00,079 --> 00:23:03,920 we complain, we see healthcare. Listen, we gotta fix it. 303 00:23:04,000 --> 00:23:07,240 Not just here in the world. They have a two tier system. They 304 00:23:07,279 --> 00:23:11,240 have a private hospital. Private hospital closed when I was there, I would 305 00:23:11,240 --> 00:23:15,440 have had to go the next day and all this stuff. They would not 306 00:23:15,759 --> 00:23:19,519 Anything that's an emergency, they will do for you in the in the hospital, 307 00:23:21,160 --> 00:23:22,640 but if it's not an emergency, they will not do it if you're 308 00:23:22,640 --> 00:23:27,480 a foreigner. In a couple of weeks, these doctors that I met, 309 00:23:29,039 --> 00:23:32,200 they want to come on a show. I want to talk to them about 310 00:23:32,319 --> 00:23:36,599 national lines, medicine and all that stuff. They're not for it, even 311 00:23:36,599 --> 00:23:40,640 though that's what they have, and they're gonna give you the explanations. It's 312 00:23:40,640 --> 00:23:42,359 going to be a pretty cool thing. So in a couple of weeks I'll 313 00:23:42,400 --> 00:23:45,400 advertise it, let you no one they're coming on. But these guys were 314 00:23:45,440 --> 00:23:48,839 great, and because I weren't even the doctors that were working on me, 315 00:23:48,920 --> 00:23:52,920 these were guys I met later on that we're able to explain to me the 316 00:23:52,960 --> 00:23:56,319 system and what's they're going on and all, and we're going to talk about 317 00:23:56,319 --> 00:24:00,799 how insurance works over there and not works, and they're gonna take care of 318 00:24:00,799 --> 00:24:03,880 you the how of what. And then they I guess, I don't know 319 00:24:03,960 --> 00:24:06,839 somehow I didn't give them any information. I don't know if anybody else did. 320 00:24:07,079 --> 00:24:08,759 And then they sent me a bill so an overnight in the hospital, 321 00:24:10,119 --> 00:24:15,039 CT scans, X ray twice, all that stuff, private room. I 322 00:24:15,039 --> 00:24:18,279 think it's going to cost me about nine hundred dollars. Pretty done good, 323 00:24:18,920 --> 00:24:21,440 I would say, compared to what we have. All Right, we got 324 00:24:21,480 --> 00:24:23,720 a lot to talk about markets, everything else, planning. We'll be right 325 00:24:23,759 --> 00:24:34,880 back. Thanks for listening to the moneymount of show. Welcome back, everybody. 326 00:24:34,880 --> 00:24:38,240 It's the money amounted show right here Sunday morning, KNST. We got 327 00:24:38,319 --> 00:24:44,480 Dave, Dylan, Todd and myself Dean finally back to bring you everything we 328 00:24:44,599 --> 00:24:47,720 know about what's going on. And I'm sure everyone loves to hear that voice. 329 00:24:47,880 --> 00:24:49,359 Hear that INDs the end. We're all back. I mean, my 330 00:24:49,440 --> 00:24:52,279 goodness, who thought what ever gonna happen? All four of us? It's 331 00:24:52,319 --> 00:24:57,160 first time? What seven weeks? Yeah, yea seven weeks, two months, 332 00:24:57,319 --> 00:25:00,519 all four of us are back seven weeks. I think the big headline 333 00:25:00,559 --> 00:25:06,039 this week was CPI got a doubt up two tenths of a percent for the 334 00:25:06,079 --> 00:25:11,359 month and year over a year, or three percent, which is a seventy 335 00:25:11,400 --> 00:25:17,480 percent below where it was and at the lowest level in two years. Yeah, 336 00:25:17,519 --> 00:25:21,240 it's definitely coming down, So that's good. Yeah, it's coming down 337 00:25:21,279 --> 00:25:23,880 now. The food prices were slow gaining and then declines, and vehicles and 338 00:25:23,920 --> 00:25:30,599 airplane prices, the underlying economic news is getting better compared to inflation. Yes, 339 00:25:30,640 --> 00:25:34,039 the problem we have is that you see in the layoffs, I mean 340 00:25:34,079 --> 00:25:40,880 Microsoft laid off, how many people six thousand or some ten and more and 341 00:25:40,960 --> 00:25:44,359 more people are getting laid off. Companies are pulling back. You can see 342 00:25:44,400 --> 00:25:47,359 what's going on, and the FED wants to rage rates again, it is 343 00:25:47,400 --> 00:25:51,039 interesting that that the Feds wanted to raise rates with inflation coming down, so 344 00:25:51,599 --> 00:25:53,880 they must be seen something part of its wage inflation. Have you seen the 345 00:25:53,880 --> 00:25:59,400 CPI when you X out food and energy. Yes, and that's still pretty 346 00:25:59,400 --> 00:26:03,559 elevated. That's still around five percent. So if you're thinking about that standpoint, 347 00:26:03,759 --> 00:26:07,720 and the Fed has always said that's what they base their decisions on is 348 00:26:07,079 --> 00:26:11,920 X food and energy, because they don't their monetary policy does not impact those 349 00:26:11,960 --> 00:26:15,720 two sectors. That's a very valid sector there. They think that they when 350 00:26:15,720 --> 00:26:21,119 they raise interest rates are lower interest rates. That's the X food and energies 351 00:26:21,160 --> 00:26:23,200 what's really going to be impacted. So if they still see that elevated, 352 00:26:23,200 --> 00:26:26,440 maybe that's what they're thinking. Well, and housing is forty two percent of 353 00:26:26,480 --> 00:26:30,440 the CPI, and housings are not falling at all, right, I mean, 354 00:26:30,480 --> 00:26:33,640 it's just stabilized. In fact, there was a report I read last 355 00:26:33,640 --> 00:26:37,200 week that in some of the Northeastern cities it is back to the all time 356 00:26:37,279 --> 00:26:40,880 high in terms of the cost of a home. I've got a breakdown of 357 00:26:40,920 --> 00:26:45,559 the of the different components of the consumer depression indecent on what really moved m 358 00:26:45,799 --> 00:26:51,839 Gasoline down twenty seven percent, that'll make a difference, yep, health insurance 359 00:26:51,880 --> 00:26:53,799 down twenty five percent. I thought that was interesting. I've seen that. 360 00:26:55,119 --> 00:27:00,559 Yeah, the pickleball people haven't either. So airline fairs down nineteen percent. 361 00:27:00,799 --> 00:27:04,720 That come on, that's that's ridiculous. I have not seen any I know, 362 00:27:04,799 --> 00:27:08,640 down nineteen that's ridiculous. Year down nine I've been seeing it. Yeah, 363 00:27:08,839 --> 00:27:11,799 I mean year over year last year they were real high. Yes, 364 00:27:12,000 --> 00:27:15,480 so I think the high Alicia, No, they're not higher this year. 365 00:27:15,559 --> 00:27:22,000 No, they're down nineteen percent. And the other big one was natural gas 366 00:27:22,079 --> 00:27:26,720 down eighteen percent. Now, natural gas and gasoline make makes sense. The 367 00:27:26,079 --> 00:27:29,920 air farres, the health insurance, I'm kind of scratching my head, going 368 00:27:30,200 --> 00:27:33,000 gosh, really a car rental was down twelve percent. That was another big 369 00:27:33,079 --> 00:27:36,960 dropper. Oh really yeah, because one day went to close to me almost 370 00:27:36,960 --> 00:27:40,279 four hundred dollars for a car. Wow. Yeah. Yeah, there's there's 371 00:27:40,279 --> 00:27:42,480 a company out there that you can It's kind of like the Airbnb of cars. 372 00:27:42,720 --> 00:27:45,279 It's not really in Tucson, but I forget what the name of it 373 00:27:45,359 --> 00:27:48,640 is. You can rent a car like an Airbnb right day right most like 374 00:27:48,759 --> 00:27:52,599 a lot of luxury cars. You can rent vans. But we talked about 375 00:27:52,640 --> 00:27:53,559 that. Yeah, I remember the name of that time. No, because 376 00:27:53,559 --> 00:27:56,240 Anthony came on the show and talked about man, yeah, yeah he did. 377 00:27:56,319 --> 00:27:59,759 And then I actually looked at it when I was when I was looking 378 00:27:59,799 --> 00:28:03,839 at and you can clearly rent now you can rent anything. Well, that's 379 00:28:03,880 --> 00:28:07,480 the thing Anthony was on the show about saying, who is in the insured 380 00:28:07,720 --> 00:28:12,079 of that vehicle? Because the person you're renting to isn't actually insured. The 381 00:28:12,119 --> 00:28:15,640 insurance company is ensuring you older. Right. And when I when I was 382 00:28:17,240 --> 00:28:21,680 exploring the electric vehicle world, i went on there to see if they had 383 00:28:21,720 --> 00:28:26,720 electric you had Tesla's it's absolutely everything in anything you want. Yeah, the 384 00:28:26,720 --> 00:28:30,359 company is Toro. Okay, that's I was going to see to but I 385 00:28:30,400 --> 00:28:32,960 know that. Yeah, but that's it's not like with a drop off though, 386 00:28:33,000 --> 00:28:36,519 you have to stay in the city or wherever you're at someone's that they're 387 00:28:36,519 --> 00:28:37,400 renting out to you. Yeah, that's what it is. Yeah, you 388 00:28:37,440 --> 00:28:42,240 can't take it from Arizona to Florida. So if I drive someone's car and 389 00:28:42,319 --> 00:28:48,119 supperson owns the car, is the insured. You're the second insured who's driving 390 00:28:48,160 --> 00:28:52,799 it. However, if you went from a rental company, it's your insurance, 391 00:28:52,119 --> 00:28:56,759 right. Well, that's why the insurance companies don't like this. They're 392 00:28:56,799 --> 00:29:00,640 asking you to get a special policy and that's differ than the normal policy to 393 00:29:00,720 --> 00:29:03,160 allow you to rent out your vehicle to someone. Of course that's what they 394 00:29:03,160 --> 00:29:06,480 want. They want to to spend more money on new insurance. Right. 395 00:29:06,599 --> 00:29:10,200 We exported the big droppers. How about the big gainers in the inflation world? 396 00:29:10,319 --> 00:29:14,920 Number one motor vehicle repair up twenty percent, and that makes sense. 397 00:29:14,960 --> 00:29:18,519 We had Anthony on the show last week talking about why insurance premiums are so 398 00:29:18,599 --> 00:29:21,319 much higher than they were six months ago, and he said a lot of 399 00:29:21,319 --> 00:29:23,480 it's because of the costs of the vehicle. It's not as chief cost of 400 00:29:23,519 --> 00:29:26,839 the parts the parts that yea, yeah, the inflation that has taken place 401 00:29:26,880 --> 00:29:33,559 within the components they go into it. Frozen vegetables were number two. Don't 402 00:29:33,559 --> 00:29:37,960 need a lot of frozen vegetables. I couldn't. A motor vehicle insurance number 403 00:29:37,000 --> 00:29:40,880 three, and those you know, one and three go together. Yeah, 404 00:29:41,039 --> 00:29:45,039 motor vehicle insurance and the repairs candy and chewing gun was fourth. Oh that's 405 00:29:45,079 --> 00:29:48,240 there you go. But I think the gasoline down twenty seven percent. That's 406 00:29:48,960 --> 00:29:52,599 just love to see those numbers there. Big, that's the big. It's 407 00:29:52,640 --> 00:29:56,799 kind of interesting to see where it comes from. You know, you get 408 00:29:56,839 --> 00:29:59,319 the one number, you know, three percent, and you go, okay, 409 00:29:59,400 --> 00:30:03,759 but I'm feeling more pain than that, right, And it might be 410 00:30:03,759 --> 00:30:07,640 because you are in some of these areas that have are I've gotten more expensive. 411 00:30:07,119 --> 00:30:12,920 Think about this though. Okay, last year twenty twenty two, stocks 412 00:30:14,000 --> 00:30:19,920 dropped hard and bonds dropped hard because industrates one up. Now this year industrates 413 00:30:21,839 --> 00:30:26,680 we have we have high interest rates and the markets still going higher. This 414 00:30:26,759 --> 00:30:30,599 is this is the market is puzzling because we're not seeing the type of a 415 00:30:30,640 --> 00:30:34,279 market, Dean that you would see in this economic environment. You're seeing the 416 00:30:34,279 --> 00:30:37,279 type of market you would see coming out of a pandemic or coming out of 417 00:30:37,319 --> 00:30:41,599 a recession. You're seeing the type of market that you'd expect when everything is 418 00:30:41,960 --> 00:30:45,880 you know, a pedal to the metal and everybody's recovering. You know, 419 00:30:45,960 --> 00:30:48,640 corporating earnings are going to be better, you know the economy is going to 420 00:30:48,680 --> 00:30:53,319 be That's not where we're at right. What you're seeing is computers trading on 421 00:30:53,519 --> 00:30:59,480 momentum, and they also all the ones that also sell. So when you 422 00:30:59,519 --> 00:31:03,799 see them all gets down five hundred points, it's because they're indiscriminately selling because 423 00:31:03,839 --> 00:31:07,559 they're hitting certain points, or something happens, oil goes off, but whatever 424 00:31:07,640 --> 00:31:12,160 it is, or yields hit a certain point, they automatically sell. The 425 00:31:12,160 --> 00:31:19,000 whole idea is right now is that the computers aren't really thinking about what kind 426 00:31:19,000 --> 00:31:22,960 of is natural, right, They're just looking at price movement and they're picking 427 00:31:22,960 --> 00:31:26,519 the stocks out of the momentum stocks, and that's what's going on. Yeah, 428 00:31:26,559 --> 00:31:32,839 the technical fundamental we had a little a snapshot of what can happen uh 429 00:31:33,079 --> 00:31:37,160 Friday afternoon with then video. They got up to four hundred and eighty dollars 430 00:31:37,160 --> 00:31:41,200 a share, and an hour and a half later it was five percent lower. 431 00:31:41,359 --> 00:31:42,960 Yeah, it dropped five percent in the last hour and a half of 432 00:31:44,000 --> 00:31:48,920 tradeing on Friday, that's twenty points. Yeah, yes, thirty points. 433 00:31:49,519 --> 00:31:53,000 Yeah, it got to four eighty and closed at four fifty five. While 434 00:31:53,400 --> 00:31:57,000 yeah, the the divergence between you know, the ten year interest rates still 435 00:31:57,039 --> 00:32:02,160 saying elevated, but technology, which are all based on rates their growth rates, 436 00:32:02,240 --> 00:32:06,960 right, and they just contentue to take off. It shouldn't be happening. 437 00:32:07,039 --> 00:32:08,759 I mean, you look at the NASDAC. You're to date up thirty 438 00:32:08,799 --> 00:32:15,359 five percent. The Dow is up four thirty five verses four. Well, 439 00:32:15,359 --> 00:32:17,960 they're having to rebalance the NAZAC one hundred two for the third time in history. 440 00:32:19,039 --> 00:32:22,960 They've actually said we've got to do something to make this look more realistic. 441 00:32:22,200 --> 00:32:27,079 Yes, seven stocks is makes up more than fifty percent, and I 442 00:32:27,079 --> 00:32:30,480 think those seven You're absolutely right, those seven stocks are going to be cut, 443 00:32:30,519 --> 00:32:32,039 Their exposure is going to be cut, probably at least in half, 444 00:32:32,160 --> 00:32:37,240 and yet it didn't impact them this week. It's to twenty four is when 445 00:32:37,279 --> 00:32:39,079 they do it. They do it to twenty fourth before the open, you 446 00:32:39,079 --> 00:32:44,039 would expect those seven stocks to get hit because that means everyone's selling all at 447 00:32:44,119 --> 00:32:46,519 once. Yeah, when they rebalance, anyone who has that product is going 448 00:32:46,559 --> 00:32:52,759 to be selling. It's gonna have to would you make the NASDAC less risky? 449 00:32:52,759 --> 00:32:54,839 Then? In theory? In theory, and so you have seven stocks 450 00:32:54,839 --> 00:32:59,119 that are that should be really aggressively sold. But if you think about it, 451 00:32:59,160 --> 00:33:02,240 the selling them up here, after this big move the markets fall, 452 00:33:02,799 --> 00:33:07,640 they'll go right back in and buy them again, right And you also you 453 00:33:07,759 --> 00:33:10,000 also can shut them and then cover with with what you've got in the portfolios. 454 00:33:10,440 --> 00:33:14,079 But but you know, if you're trying to mimic the NASDAC, there 455 00:33:14,079 --> 00:33:16,920 really is no reason to play that game. Is it the NASTAC or the 456 00:33:17,000 --> 00:33:22,400 Naya, the NAZAC one hundreds different than the NASTAC or the NASDACK composite. 457 00:33:22,680 --> 00:33:25,759 Yeah, yeah it is, thank you. That's a good clarification. It's 458 00:33:25,799 --> 00:33:30,640 the NASDAC one hundred that's being rebound. But it's only the third time in 459 00:33:30,720 --> 00:33:35,240 history. Gean nineteen ninety nine when everything went crazy bonkers and the you know 460 00:33:35,319 --> 00:33:37,720 in the tech world was and then in twenty fifteen, and I don't know 461 00:33:37,759 --> 00:33:42,000 why. In twenty fifteen, I probably should have looked at up but I 462 00:33:42,200 --> 00:33:45,799 don't know what happened in twenty fifteen, but there must have been a fairly 463 00:33:45,799 --> 00:33:49,359 significant rally in a few of the tech stocks. So with all this said, 464 00:33:50,880 --> 00:33:54,000 it's time for people to look at the portfolios and and and make sure 465 00:33:54,079 --> 00:33:59,240 that the balance right, the sitting right, We do remember what their risk 466 00:33:59,279 --> 00:34:02,400 tolerance is, because right now a lot of portfolios might be too risky, 467 00:34:02,720 --> 00:34:07,039 no question, and so it might not be too risky, but it's time 468 00:34:07,079 --> 00:34:10,400 to sit down with your adviser and check it out and make sure it's fitting 469 00:34:10,400 --> 00:34:15,920 in with your plan, your portfolio, your risk tolerance, your percentages and 470 00:34:15,000 --> 00:34:20,320 everything else. And if you don't, we'll do that complimentary for you, 471 00:34:20,599 --> 00:34:23,719 which means free, and we'll do it for you like coming in sending an 472 00:34:23,760 --> 00:34:27,880 appointment, and we view when your entire thing. It's a great time to 473 00:34:27,920 --> 00:34:30,480 do redo your risk tolerance if you haven't done it in six plus months, 474 00:34:30,480 --> 00:34:32,719 because the markets have run up a lot, and a lot of people are 475 00:34:32,719 --> 00:34:36,800 coming to us right now who are a lot more aggressive than they were six 476 00:34:36,840 --> 00:34:38,960 months ago, just from a mental I can't tell you the number of calls 477 00:34:39,000 --> 00:34:45,199 I've had from people that I know are really nervous investors. One in enough, 478 00:34:45,239 --> 00:34:47,039 she should be more aggressive. We've been through that so many times. 479 00:34:47,039 --> 00:34:50,480 Oh, Dean, I mean, think about the people that we've had that 480 00:34:50,519 --> 00:34:52,920 wanted to get aggressive. They put more money in the market goes down to 481 00:34:53,000 --> 00:34:57,559 twenty two, and they're done. They parent cash out. We had one 482 00:34:57,599 --> 00:35:00,360 client. We had one client who is absolutely perfect. We actually called it 483 00:35:00,440 --> 00:35:05,119 at that, you know, Joe blow Index, because he would when he 484 00:35:05,199 --> 00:35:07,639 was selling, you wanted to be buying. When he was buying, you 485 00:35:07,679 --> 00:35:10,800 wanted to be selling. He is absolutely the best contrary indicator ever. And 486 00:35:10,840 --> 00:35:15,320 that's emotions, right, And a lot of people are ruled by our emotions, 487 00:35:15,360 --> 00:35:19,119 and when you are, you need a money manager that isn't ruled by 488 00:35:19,239 --> 00:35:22,760 his emotions. Right. That's short term. Everyone becomes short term, right, 489 00:35:22,840 --> 00:35:24,400 Okay, they think, oh my god, these four months, six 490 00:35:24,440 --> 00:35:27,280 months a month, I got to go in. It's just like when the 491 00:35:27,360 --> 00:35:30,280 market falls, when you go back and look at history and you look at 492 00:35:30,280 --> 00:35:32,519 a chart, you look at the eighty seven crash, the two thousand and 493 00:35:32,599 --> 00:35:37,639 one, two thousand and eight, the blips on the chart. But when 494 00:35:37,639 --> 00:35:39,920 you went through him for two years, it was a heartache. It was 495 00:35:40,000 --> 00:35:44,440 disaster. I'm never gonna get it back. I'm so old, I'm this. 496 00:35:45,000 --> 00:35:47,480 The bottom line is this is when you need to mitigate risk, and 497 00:35:47,519 --> 00:35:50,679 when it goes down is when you have to go the other way. We'll 498 00:35:50,679 --> 00:35:52,679 be right back. Thank you for listening to the Money mounted Show. We 499 00:35:52,719 --> 00:36:04,840 do appreciate it. Say it's all Welcome back everybody, it's some money about 500 00:36:04,840 --> 00:36:07,559 the show. We're all here today. We got Dave, Dylan Todd and 501 00:36:07,719 --> 00:36:13,400 myself Dean. Remember you can hear us on Sundays. You can hear us 502 00:36:13,719 --> 00:36:17,119 anytime you want, because if you're not in town, just go to iHeart 503 00:36:17,239 --> 00:36:22,199 the app and you can hear it live, or go to our website. 504 00:36:22,360 --> 00:36:28,760 We post them the next day, or just listen to podcasts with Dean Greenbooks 505 00:36:28,840 --> 00:36:32,719 fourth or July weekend the radio show. The radio station was closed on Monday 506 00:36:32,800 --> 00:36:37,639 the third, and so it didn't get posted until Wednesday. Well, we 507 00:36:37,719 --> 00:36:43,159 got some phone calls on Wednesday. Where are your podcasts? Yeah we did. 508 00:36:43,480 --> 00:36:47,480 Oh it's growing, there's no doubt. I mean we're helping people and 509 00:36:47,599 --> 00:36:52,360 I've done that the show now for what thirty three years, and we've moved 510 00:36:52,400 --> 00:36:55,920 into not only the money management, which we think is very very important, 511 00:36:57,199 --> 00:37:00,239 and diversification and doing it and we've got a lot of experience in that. 512 00:37:00,599 --> 00:37:05,719 But the financial plan, now, financial planning since the pandemic, pandemic has 513 00:37:06,119 --> 00:37:12,679 skyrocketed, you know, and unfortunately a lot of people use that pandemic the 514 00:37:12,760 --> 00:37:16,480 financial plan to just sell annuities to people, or insurance okay, or insurance, 515 00:37:16,760 --> 00:37:21,840 well that's a duties are insurance and products too. Yeah. If that's 516 00:37:21,840 --> 00:37:23,760 happening to you, I think twice. That's all I'm going to tell you. 517 00:37:23,840 --> 00:37:30,239 Think twice. Get another opinion. A financial plan should encompass everything. 518 00:37:30,840 --> 00:37:35,480 It should encompass when you should take Social Security? Are you covered enough on 519 00:37:35,559 --> 00:37:39,519 Medicare? Which one you should be? On your tax situation? Trying to 520 00:37:39,559 --> 00:37:45,679 reduce your tax situation? RMD situations should when will you take out? How 521 00:37:45,760 --> 00:37:49,679 do you how do you save on taxes? Yeah? I want to talk 522 00:37:49,679 --> 00:37:53,400 about that real quick. Because our financial plan has gotten more robust because of 523 00:37:53,440 --> 00:37:58,800 this new feature, we're actually able to go in and plan around and expect 524 00:37:58,880 --> 00:38:01,679 what taxes are going to look like throughout retirement. For example, I was 525 00:38:01,719 --> 00:38:07,880 creating this one proposal for a client where from age sixty to sixty five, 526 00:38:07,880 --> 00:38:12,159 we're going to focus on growing the assets. From sixty five to seventy, 527 00:38:12,199 --> 00:38:16,400 we're gonna take money out of the IRA to lower the account value so that 528 00:38:16,480 --> 00:38:21,239 when he turned seventy five in RMD start, the rmds aren't going to be 529 00:38:21,239 --> 00:38:24,039 as much. And then from seventy to seventy five taking money out of the 530 00:38:24,320 --> 00:38:29,159 roth IRA. I'm able to model all of this into the financial plan and 531 00:38:29,239 --> 00:38:34,159 see exactly an estimate of how much taxes he could be saving based on that 532 00:38:34,199 --> 00:38:38,920 strategy versus doing something else right and having to don't even want to talk about 533 00:38:38,960 --> 00:38:43,559 that though. One I was like, well, the things you're maybe fearful 534 00:38:43,599 --> 00:38:45,360 of, if you think a certain thing is going to happen, you can 535 00:38:45,599 --> 00:38:49,559 put that into the program. Yeah, I mean, the program really can 536 00:38:49,639 --> 00:38:52,079 encompass anything you want to do. It's if you have if say you think 537 00:38:52,280 --> 00:38:55,400 you might if social Security, if you think it's going to get cut, 538 00:38:55,559 --> 00:38:59,760 we can play with that and see what would happen to your plan if say 539 00:38:59,760 --> 00:39:02,280 social Security got cut by twenty five fifty percent, anything like that. We 540 00:39:02,320 --> 00:39:06,039 can kind of show you would it affect your plan or would it not? 541 00:39:06,039 --> 00:39:07,599 Would it even matter? And a lot of times it really doesn't matter. 542 00:39:07,639 --> 00:39:12,519 So US gives them a fresh breath and a sense of relief in that sense, 543 00:39:12,599 --> 00:39:15,960 because usually that's a big fear is like all they hear is social security 544 00:39:15,000 --> 00:39:17,760 is going to go away in twenty thirty six, so security is this and 545 00:39:17,800 --> 00:39:21,360 that. But then you really show them it really doesn't do much to the 546 00:39:21,400 --> 00:39:23,280 plan helps them sleep at night. Yeah, I think Dean brought up a 547 00:39:23,360 --> 00:39:25,960 very good point. If you go through the financial plan, and at the 548 00:39:27,039 --> 00:39:30,440 end of the financial plan the person that's giving it two you says, based 549 00:39:30,480 --> 00:39:35,159 on this, I really think you need an annuity, you know, this 550 00:39:35,840 --> 00:39:40,719 particular annuity. If the financial plan comes with a recommendation to do a product, 551 00:39:42,119 --> 00:39:45,199 there's probably an issue with it. If it depends. No, yeah, 552 00:39:45,199 --> 00:39:47,599 it depends because I mean we recommend products too, but not in the 553 00:39:47,639 --> 00:39:51,559 sense of one hundred percent of your whole portfolio is going into one product. 554 00:39:52,000 --> 00:39:53,920 We don't. We don't want to put even the majority of anything into one 555 00:39:53,920 --> 00:39:59,440 product. But you're also talking to these talking in generalities, right we are. 556 00:39:59,440 --> 00:40:00,719 It's all siffic to your plan. I mean, if it fits to 557 00:40:00,840 --> 00:40:05,679 go into a variable annuity or something like that in the sense of guaranteed income, 558 00:40:06,000 --> 00:40:07,920 because that's what you need during retirement to bridge your gap between expenses and 559 00:40:07,960 --> 00:40:14,519 income that makes sense, Z variable annuity with the income writer, they can 560 00:40:14,519 --> 00:40:16,559 get your journey three percent the shop. Everything doesn't matter. But we're not 561 00:40:16,599 --> 00:40:21,599 saying we're never gonna go into an annuity because it wouldn't if it makes sense 562 00:40:21,639 --> 00:40:24,639 saying it doesn't end with an annuity. Pitch right now? Well, also, 563 00:40:24,800 --> 00:40:29,480 like what's fearful? Right? People have very common concerns. Will my 564 00:40:29,519 --> 00:40:31,599 soul security to get cut? Will I live too long? What happens if 565 00:40:31,639 --> 00:40:36,559 there's a big two thousand and eight recession during retirement? What happen too long? 566 00:40:37,000 --> 00:40:38,719 Yeah? I think will I outlive my money? Is probably a better 567 00:40:38,760 --> 00:40:42,760 way to say that. Oh okay, well that's the same the same thing. 568 00:40:42,840 --> 00:40:45,559 But you know, oh out there, sound well, what I live 569 00:40:45,599 --> 00:40:47,119 too long? You know, last year, the biggest concerned inflation. What 570 00:40:47,119 --> 00:40:51,119 happens if we have five percent inflation for the next ten years. We can 571 00:40:51,199 --> 00:40:53,400 model that, We can show you exactly what would how your plan would look 572 00:40:53,440 --> 00:40:59,079 based on that, And having all these included in the plan actually allows us 573 00:40:59,320 --> 00:41:01,440 to look at all the products available and see which one works best. Because 574 00:41:01,440 --> 00:41:06,599 if you're just selling one product, that product is only going to have safety 575 00:41:06,599 --> 00:41:09,280 for a certain number of concerns. What happens when that one concern pops up 576 00:41:09,440 --> 00:41:13,039 like a big market drop, and now you need extra liquidity, but you 577 00:41:13,039 --> 00:41:15,559 can't get it out of the annuity because of surrender penalty. Let's let's talk 578 00:41:15,559 --> 00:41:23,360 about annuity for a second. Last year, what's the greatest biggest sales revenue 579 00:41:23,360 --> 00:41:28,239 for annuities? Right right? All time record? People sold annuities in the 580 00:41:28,280 --> 00:41:30,559 last The second one was two thousand nine, right after another big crowd. 581 00:41:30,599 --> 00:41:35,199 And what did we say, do not be putting your growth money in the 582 00:41:35,239 --> 00:41:39,519 annuity just because you're scanned, right, okay, because all of a sudden, 583 00:41:39,559 --> 00:41:44,880 what they sell they sell fear fear fear. So now even if you're 584 00:41:44,880 --> 00:41:49,760 in a balanced portfolio, you're up eight percent. I promise you you're not 585 00:41:49,880 --> 00:41:52,480 up that much in the annuities. We'll guarantee you five percent. Can you 586 00:41:52,480 --> 00:41:58,480 hear the sp seventeen? You guess what you're getting? Five percent exactly. 587 00:41:58,960 --> 00:42:01,280 But mind it's the fees out of it. There's a place for it. 588 00:42:01,760 --> 00:42:06,480 There's a place for a nuity. So saving on taxes, needings in a 589 00:42:06,559 --> 00:42:10,039 guaranteed income stream. I get all that, but most of it is just 590 00:42:10,280 --> 00:42:16,440 more sales on fear and I'm tired of listening to these people tell you that 591 00:42:17,000 --> 00:42:23,039 fear of fear don't sell. Fear, fear sell optimism sell. How are 592 00:42:23,039 --> 00:42:27,679 you going to mitigate risk along with making money going up? I could not 593 00:42:27,800 --> 00:42:31,280 be wrong from forty two hundred the last three hundred SMP points. I'm baffled. 594 00:42:31,679 --> 00:42:37,599 But we still made money while still protecting the portfolios. That is so 595 00:42:37,679 --> 00:42:42,880 important that people don't even realize it. But if you're an annuity, you're 596 00:42:42,920 --> 00:42:46,800 not anywhere nia what the markets are doing, even nine to ten percent that 597 00:42:46,960 --> 00:42:51,880 the average balanced portfolio is this year. The annuity has to make sense for 598 00:42:51,920 --> 00:42:53,920 your entire plan. That's pretty much what we're saying in that and your risk 599 00:42:54,119 --> 00:42:58,559 and your risk, and but it's never We're never going to put one hundred 600 00:42:58,599 --> 00:43:00,960 percent of your portfolio into it. Won't do that in that sense because it 601 00:43:01,039 --> 00:43:04,719 can never be. It won't be that idea. I heard another. I 602 00:43:04,760 --> 00:43:07,159 heard it last night. I was watching a TV and I had there was 603 00:43:07,199 --> 00:43:12,599 a commercial on for a twenty five percent bonus if you sign up for this 604 00:43:12,599 --> 00:43:16,159 annuity, plus I guaranteed ten percent per year. People. That is not 605 00:43:16,360 --> 00:43:21,679 real money, right, That is funny money. You get. It's your 606 00:43:21,719 --> 00:43:24,480 income, it's your income writer factor. That's all it is. With all 607 00:43:24,519 --> 00:43:29,760 that said, okay, if you take some of your games off. Now, 608 00:43:30,840 --> 00:43:32,199 say you say you had five hundred thousand and you made one hundred, 609 00:43:32,239 --> 00:43:36,119 one hundred and fifty grand this year, and you take one hundred grand off 610 00:43:36,519 --> 00:43:39,440 and put it into annuity. Now it's not such a bad idea. But 611 00:43:39,559 --> 00:43:44,000 that's not your growth money anymore, right because you locked you're locked in, 612 00:43:44,199 --> 00:43:46,599 you locked in, you're you're gained, and put it into something you can't 613 00:43:46,679 --> 00:43:50,119 lose, and I only go forward. Well, even better than that. 614 00:43:50,199 --> 00:43:53,199 How about instead of maybe not even getting it because in a fix index nudity 615 00:43:53,239 --> 00:43:55,440 might get zero percent, how about you lock those in, put it into 616 00:43:55,480 --> 00:44:00,920 a MAGA where you're getting five point two percent guaranteed for either three years, 617 00:44:00,960 --> 00:44:04,639 five or seven years. You picked the term MICA is a multi year guaranteed 618 00:44:04,639 --> 00:44:07,360 annuity. And what it is is pretty much a CD from a bank, 619 00:44:07,599 --> 00:44:12,360 but it's getting you a better interest rate. And those are for taxable accounts, 620 00:44:12,440 --> 00:44:15,280 a taxab account. You're not paying any taxes on that. It's almost 621 00:44:15,280 --> 00:44:17,599 said, it's a CD from a CD with a life insurance company. It's 622 00:44:17,639 --> 00:44:22,079 exactly what right without but the beauty of it you don't pay taxes to you 623 00:44:22,119 --> 00:44:24,559 take it out. Yeah, and you can control that. You can control 624 00:44:24,599 --> 00:44:28,000 that you don't have to take it out at the end of five years. 625 00:44:28,000 --> 00:44:30,119 It's one of those few products where you can actually know what's your ending value 626 00:44:30,119 --> 00:44:34,960 going to be. Yeah, it's very simple control. Being part of this 627 00:44:35,079 --> 00:44:38,480 rally is going on is because I think that most analystic recession is now off 628 00:44:38,519 --> 00:44:43,679 the table, but the bond market's telling you there's no way, right, 629 00:44:44,119 --> 00:44:45,920 there's no way the recessions off the table. It's still common. Yeah. 630 00:44:45,960 --> 00:44:51,440 And with inflation slowing, that means the economy is slowing right, right, 631 00:44:51,440 --> 00:44:53,719 it's not growing at the same rate. So what happens if inflation turns into 632 00:44:53,760 --> 00:44:59,519 deflation? Yeah, that's something to be concerned about. It. The yield 633 00:44:59,519 --> 00:45:04,320 spread is still uh inverted. There's still one percent difference between the two year 634 00:45:04,400 --> 00:45:08,920 treasury and the ten Again, the only thing I can tell you for sure, 635 00:45:10,239 --> 00:45:14,440 nobody knows what's going to cause the market to go down. They always 636 00:45:14,480 --> 00:45:16,840 go down at some time and then you go, oh, that's what caused 637 00:45:16,840 --> 00:45:20,719 it, right, yep, Okay. All I can tell you is there's 638 00:45:20,840 --> 00:45:23,559 risk I'm not sure where the risk will come from the knock the market down, 639 00:45:23,880 --> 00:45:28,960 but the valuations are creating risk. And if it's like a house of 640 00:45:29,000 --> 00:45:32,400 cards, it's not. It's not cement steps right now, So a house 641 00:45:32,440 --> 00:45:37,039 of cards when the thoughts tumbling, like you said with na video, all 642 00:45:37,119 --> 00:45:39,800 of a sudden, it's dropped thirty points in one an hour. Yeah, 643 00:45:40,159 --> 00:45:44,039 okay, yeah, that's because once everyone wants to go out the door at 644 00:45:44,079 --> 00:45:45,800 the same time. Said, well, you go to a party, right, 645 00:45:45,840 --> 00:45:49,800 and go to a house party and there's two hundred people in the house 646 00:45:49,840 --> 00:45:52,360 party. But it was never a problem, right because she came at different 647 00:45:52,360 --> 00:45:55,719 times and went in the door, front door. But everyone's in the house. 648 00:45:55,760 --> 00:46:01,119 Now, now there's a problem. There's you know, you don't can't 649 00:46:01,159 --> 00:46:05,199 get out the front door. At the same time, you're jumping out of 650 00:46:05,239 --> 00:46:07,880 windows, you're knocking in walls, you're doing whatever to get out to save 651 00:46:07,920 --> 00:46:12,519 yourself. And if you think about that way the market, you want to 652 00:46:12,559 --> 00:46:15,480 we'll leave that party a little bit early and walk through the door so you 653 00:46:15,480 --> 00:46:20,239 don't have to be injured. If you're comfortatigate your risk. I can't tell 654 00:46:20,239 --> 00:46:22,679 you how much I want you to mitigate your risk right now for the rest 655 00:46:22,719 --> 00:46:24,840 of the year, and then you can see where we are off from there. 656 00:46:24,960 --> 00:46:29,239 If you're comfortable with sixty percent exposure to the market, and now that's 657 00:46:29,320 --> 00:46:32,079 seventy percent, cut it back to sixty, cut it back to where you're 658 00:46:32,079 --> 00:46:36,559 comfortable. This is not a time to be more aggressive. I think a 659 00:46:36,559 --> 00:46:39,159 lot of time to be all in. If you looked at yourself six if 660 00:46:39,199 --> 00:46:43,679 you could go six months in the future and if we had the markets drop 661 00:46:43,840 --> 00:46:46,480 and you could look back saying I could have got a guaranteed rate of return 662 00:46:46,599 --> 00:46:51,360 with a treasury on MIGA CD whatever it may be, and you didn't do 663 00:46:51,440 --> 00:46:53,079 that, and you would you be kicking yourself six months down the road. 664 00:46:53,360 --> 00:46:57,239 That's how you have to think about it now, because if you go back 665 00:46:57,280 --> 00:47:00,559 and the markets drop significantly and you could have got guaranteed into you're gonna be 666 00:47:00,599 --> 00:47:02,320 really mad at yourself. And it's not like you're giving up the growth part. 667 00:47:02,360 --> 00:47:05,679 You still have it. All you're doing is taking the money off the 668 00:47:05,719 --> 00:47:08,440 table that you've gained. Yeah, just it's it's time to be cautious. 669 00:47:08,480 --> 00:47:12,400 It's not a time to be aggressive. It's not a time. And I 670 00:47:12,519 --> 00:47:17,519 get these calls from from conservative risk adverse people that thinking, well, maybe 671 00:47:17,559 --> 00:47:22,199 we ought to just up up our allocation to the market a little bit here. 672 00:47:22,559 --> 00:47:25,280 No, No, it's kind of like the same flag when you got 673 00:47:25,280 --> 00:47:28,960 a lot of all your friends start calling you about penny stocks like we did 674 00:47:28,960 --> 00:47:32,239 back in twenty twenty, same idea. All right, listen, many ways 675 00:47:32,280 --> 00:47:36,079 to call us, many ways to see us. We can do a lot 676 00:47:36,119 --> 00:47:37,960 of things for you. All you have to do is get in touch. 677 00:47:37,000 --> 00:47:39,920 We'll be right back. You're listening to the Money Bounty Show. If you 678 00:47:40,079 --> 00:47:44,079 miss it, go look, go look it up. It's on a website. 679 00:47:44,199 --> 00:47:45,599 You'll be able to hear it by Monday night. We'll be right back. 680 00:47:46,599 --> 00:47:54,760 Say it's all. Welcome back, everybody. This is the Money Batty 681 00:47:54,800 --> 00:47:59,920 Show. This is Dean Greenbook. I'm here with Dave, Dylan and Time. 682 00:48:00,599 --> 00:48:02,320 And what you're trying to do is give you the information that we know 683 00:48:04,119 --> 00:48:07,599 on how to protect yourself, why we protect ourselves, why planning is important, 684 00:48:07,679 --> 00:48:12,880 what it does, and everything else. It's very good stuff that's going 685 00:48:12,920 --> 00:48:17,199 on. And you know what, people are concerned, but when things are 686 00:48:17,199 --> 00:48:21,639 going good, they stop being concerned until they start falling. This is the 687 00:48:21,719 --> 00:48:24,360 time to be concerned. Now. Now when the market falls five or ten 688 00:48:24,400 --> 00:48:30,320 or fifteen percent again, now is the time to be concerned and do something 689 00:48:30,360 --> 00:48:34,280 about it. It's easier to sell when the markets are higher than when it 690 00:48:34,360 --> 00:48:38,480 is lower. There were thirty percent off at the October low. Pretty good 691 00:48:38,559 --> 00:48:42,679 rally and nine but not even nine months? Right? Can we keep talking 692 00:48:42,679 --> 00:48:45,079 about it? How? I mean this rally has been big, but it's 693 00:48:45,079 --> 00:48:49,480 been centered around seven stocks very near and that's yeah, it's very narrow, 694 00:48:49,639 --> 00:48:52,039 and it can turn very quickly because those stocks can turn very quickly. It 695 00:48:52,119 --> 00:48:55,400 can turn negative very quickly. There's an awful lot of stocks that have not 696 00:48:55,559 --> 00:49:00,159 been participating. I think we talked about the Dow the thirty dolls. Half 697 00:49:00,199 --> 00:49:04,199 of them are down for the year. Half of the thirty stocks. The 698 00:49:04,280 --> 00:49:07,360 index itself is up four percent or yeah. I mean, it's like it 699 00:49:07,400 --> 00:49:09,760 is all the AI craze right now, which is in video. But when 700 00:49:09,760 --> 00:49:13,559 a video is one hundred and eighty dollars a share, nobody wanted to touch 701 00:49:13,559 --> 00:49:16,400 it. That was about what thirteen months ago, not even Yeah. I 702 00:49:16,400 --> 00:49:20,960 think the one thing about the doll you should point out is you have only 703 00:49:21,000 --> 00:49:25,599 thirty stocks in that index, right, So from a diversification standpoint, you're 704 00:49:25,639 --> 00:49:30,360 not having allocation to the broad range of the market as much as you are 705 00:49:30,440 --> 00:49:32,840 with the NASTAC and the S ANDP just by pure number six. I remember, 706 00:49:32,840 --> 00:49:37,119 the Dow does have Microsoft and Apple in it. You take Microsoft and 707 00:49:37,159 --> 00:49:38,960 Apple out of the Dow, you're down right. And you know, the 708 00:49:39,079 --> 00:49:45,079 five dividend ETFs I follow are down an average of two percent for the year. 709 00:49:45,320 --> 00:49:50,320 They're down, with a Nastack up thirty five percent. These are down. 710 00:49:50,599 --> 00:49:52,920 Everybody's flocking to growth. Yeah, I mean, I mean it's evident. 711 00:49:53,000 --> 00:49:57,320 The Nastac's up thirty five percent, the seven stock, Yeah, the 712 00:49:57,360 --> 00:50:00,920 magnificent percent from his loss, and all se even stocks are being priced on 713 00:50:00,960 --> 00:50:05,400 this price to magic ratio. Yes, it could be worth as much as 714 00:50:05,400 --> 00:50:07,840 you want, and you don't need a reason or about any fundamental reason. 715 00:50:08,159 --> 00:50:12,920 The future idea of it with AI, with Apple coming out, the VR 716 00:50:13,000 --> 00:50:15,239 headsets and everything and what they're doing, that's really what they're basing on. 717 00:50:15,280 --> 00:50:19,519 And then Meta came out with Threads, which is Twitter's rival. How about 718 00:50:19,559 --> 00:50:22,760 that one hundred million users in less than a week. Yeah, and they're 719 00:50:22,760 --> 00:50:27,519 talking about it really starting to be a competitor. Like quickly with Twitter. 720 00:50:27,800 --> 00:50:30,920 Twitter is a traffic apparently going off of the cliff. Yeah, and the 721 00:50:30,920 --> 00:50:34,639 aline has got to be sitting. They're going, oh, oh, this 722 00:50:34,760 --> 00:50:37,599 was not a good investment. They're trying different things to keep it going. 723 00:50:37,599 --> 00:50:38,480 But I mean, I'm not a big Twitter guys. I'm not either. 724 00:50:38,639 --> 00:50:42,519 I'm not either. I don't think most people. I will say this, 725 00:50:42,639 --> 00:50:45,880 and I said it before. Twitter is the best space for financial news to 726 00:50:45,960 --> 00:50:50,559 get it from more than one source and get it as soon as it comes 727 00:50:50,559 --> 00:50:54,639 out. I love Twitter. They call it finn Twitter financial Twitter, and 728 00:50:54,800 --> 00:50:58,519 uh, you know, you follow all the major people, you follow the 729 00:50:58,800 --> 00:51:01,400 good talking points, and you can get a lot better analysis of what's going 730 00:51:01,440 --> 00:51:05,039 on than you can from just the headlines. I know that one I look 731 00:51:05,079 --> 00:51:07,039 out on the city of Tucson and there's black smoke somewhere, I'll go on 732 00:51:07,039 --> 00:51:09,400 Twitter and see if I can figure out what's going on. Or if I'm 733 00:51:09,440 --> 00:51:15,360 on on the freeway between here in California and there's a wreck I'm stopped in 734 00:51:15,400 --> 00:51:17,199 traffic happens once in a while, that's a good point when I'll get on 735 00:51:17,199 --> 00:51:22,320 Twitter. On the Arizona Department of Transportation Twitter and usually I can tell him. 736 00:51:22,360 --> 00:51:25,719 Sometimes it's even a picture there, so it's actually can be informative. 737 00:51:27,119 --> 00:51:30,280 We had those protests, I would be on Twitter finding for the like. 738 00:51:30,480 --> 00:51:35,199 You can find a lot more news on every single city and actually see someone 739 00:51:35,280 --> 00:51:37,679 on the ground floor taking you know, a live video of something and instead 740 00:51:37,679 --> 00:51:42,639 of just whatever the news is showing you. And then have you been on 741 00:51:42,679 --> 00:51:46,159 the Facebook. I haven't been the meta threads or whatever. I didn't know 742 00:51:46,159 --> 00:51:50,719 where you'd find it. Not trying to expand my social media presence. Let 743 00:51:50,760 --> 00:51:52,840 me give us a summary of what happened in the market last week. Don't 744 00:51:52,880 --> 00:51:53,760 Yeah, we had a great week actually, I mean the DALLA was up 745 00:51:53,800 --> 00:51:58,239 two point three percent, the SP five hundred was up two point four percent, 746 00:51:59,000 --> 00:52:00,800 the NASDAC almost led it at three point three percent, and then the 747 00:52:00,840 --> 00:52:06,000 Russell two thousand, which is the small cap did lead everything at three point 748 00:52:06,079 --> 00:52:09,400 six percent. But then the equal weighted SMP five hundred the RSP was up 749 00:52:09,400 --> 00:52:13,679 two point four percent. So as a whole, the regular SMP five hundred 750 00:52:13,719 --> 00:52:15,920 and the RSP up the exact same, which hasn't happened well, No, 751 00:52:16,000 --> 00:52:21,079 in a new fifty two week high for the NASDACK and for the five hundred. 752 00:52:21,239 --> 00:52:23,480 We are over forty five hundred on the SMP, which is just it's 753 00:52:23,519 --> 00:52:29,800 unbelievable. At forty three twenty five was the August high, and we thought 754 00:52:29,800 --> 00:52:32,000 that would be where it would stop. Frankly, just well again, we've 755 00:52:32,079 --> 00:52:36,239 kept our core, so we are participating. We are you know, we're 756 00:52:36,239 --> 00:52:39,360 not up thirty percent like the nasdack, but most of our accounts are are 757 00:52:39,039 --> 00:52:42,199 up eight, nine, ten percent. Yeah, And I mean if the 758 00:52:42,199 --> 00:52:45,760 account is part of the risk tolerance that could have those type of growth stocks, 759 00:52:45,760 --> 00:52:47,679 and they were in it before, like they opened a count a couple 760 00:52:47,679 --> 00:52:50,480 of years ago, they're going to be in those type of stocks, those 761 00:52:50,519 --> 00:52:53,519 big tech stocks. We're on buying them right now because they're just completely overvalued 762 00:52:53,559 --> 00:52:57,719 and just all keep it in new highs. We don't see that it's would 763 00:52:57,800 --> 00:53:00,679 be smart to buy any buy into any new doc like that right now. 764 00:53:00,880 --> 00:53:05,199 Now. It's just again it's not a time to be aggressive. It's like 765 00:53:05,239 --> 00:53:07,880 Dean said, it's a time to be fearful. It's a time to be 766 00:53:07,920 --> 00:53:12,559 cautious. It's just time to be patient. There's the fear index is as 767 00:53:12,559 --> 00:53:15,519 low as it's spending years. There is no fear, there is no concern. 768 00:53:16,159 --> 00:53:21,960 All it takes is one little glitch and this thing can roll over, 769 00:53:22,199 --> 00:53:24,559 Like we saw with Nvidio, five percent in an hour and a half. 770 00:53:25,119 --> 00:53:28,639 Can you see that? Can you see the market drop five percent an hour 771 00:53:28,639 --> 00:53:31,320 and a half? Absolutely, I've seen it. I'm not predicting that. 772 00:53:31,719 --> 00:53:37,440 I think probably the first couple of moves down will be bought because there are 773 00:53:37,480 --> 00:53:39,679 people that just are just dying to get into this thing. Yeah, they 774 00:53:39,679 --> 00:53:44,239 think a five percent drops absolutely, absolutely, So I think it's going to 775 00:53:44,320 --> 00:53:49,119 take a couple of those downward moves for there to be any kind of a 776 00:53:49,159 --> 00:53:53,159 sustainable decline. And I would think a reasonable decline at this level would be 777 00:53:53,159 --> 00:53:58,320 back to that forty three twenty five level as a as a first spot it 778 00:53:58,400 --> 00:54:00,519 was about five percent. Oh yeah, that would be. That would be 779 00:54:00,559 --> 00:54:06,760 where you expect there to be some support for the former resistance and become support. 780 00:54:06,840 --> 00:54:08,119 Well, we'll see too. We're coming into a historically a couple of 781 00:54:08,159 --> 00:54:12,679 bad months. September is usually the worst one. August isn't too much better, 782 00:54:13,239 --> 00:54:15,199 So we'll see what happens is during those two months, I mean, 783 00:54:15,480 --> 00:54:16,320 and then at the end of the year we do see a rally, so 784 00:54:17,199 --> 00:54:21,079 historically this is all historically speaking, So we'll see what happens in the next 785 00:54:21,119 --> 00:54:23,440 couple of months. If markus do what it's done in the past. I 786 00:54:23,440 --> 00:54:28,199 think from a technical standpoint, you need to be very cautious right here. 787 00:54:28,280 --> 00:54:32,639 I mean, all the technical indicators are screaming oversold. Everything's above, they're 788 00:54:32,679 --> 00:54:37,599 moving averages, everything's on the top end of the relative strength and decks macd's 789 00:54:37,599 --> 00:54:42,400 are at the top end of the range. So every everything is looking like 790 00:54:42,920 --> 00:54:45,199 we've reached the top end of this rally, which doesn't mean we can keep 791 00:54:45,280 --> 00:54:50,320 going higher. It just means that every point higher we go, the more 792 00:54:50,400 --> 00:54:53,639 risk of going down increases, and the market can stay irrational longer than you 793 00:54:53,639 --> 00:54:58,079 can stay liquid. Right Yeah. Yeah, We're not saying this be like 794 00:54:58,159 --> 00:55:01,079 to fear into you. We're just saying because the idea that this market isn't 795 00:55:01,119 --> 00:55:07,239 invincible, it could turn quick. No, if you're those seven stocks, 796 00:55:07,280 --> 00:55:12,039 the Apple's, the Microsoft's, day and Videos and the meadows of the world 797 00:55:12,320 --> 00:55:15,079 that have led this thing, those are scary, scary expensive right now. 798 00:55:15,400 --> 00:55:22,000 Price earnest ratio on the market. Historically, the average price earnings ratio of 799 00:55:22,039 --> 00:55:27,599 the market is sixteen. Right now we're twenty six and change, so we're 800 00:55:28,280 --> 00:55:34,360 seventy percent above historic norms. Does that and you generally only get there when 801 00:55:34,440 --> 00:55:37,440 you believe that coming like coming out of the pandemic, when you thought the 802 00:55:37,480 --> 00:55:42,519 corporate earnings were going to accelerate with all of the money the government was thrown 803 00:55:42,559 --> 00:55:46,639 into the economy. That's when you typically see those price earnings ratios up around 804 00:55:46,639 --> 00:55:52,199 those levels. Not in this environment. Oil was up at buck forty on 805 00:55:52,239 --> 00:55:55,039 the week finished the seventy five twenty five. That's the highest oil has been 806 00:55:55,079 --> 00:56:00,639 since April. Well, it hit seventy seven midweek and then had a big 807 00:56:00,679 --> 00:56:04,800 sell off on Friday. H S S. April. Gold up twenty eight 808 00:56:04,800 --> 00:56:07,119 dollars on the week to nineteen fifty five. It's pretty good move on. 809 00:56:07,199 --> 00:56:12,079 Gold keeps moving back towards that two thousand and it gets up to two thousand 810 00:56:12,119 --> 00:56:15,599 and falls apart. Bitcoin was interesting week, TI, Do you wanted to 811 00:56:15,639 --> 00:56:19,000 talk about that a little bit. Yeah, So we had ripple that was 812 00:56:19,039 --> 00:56:22,679 in a lawsuit with the SCC. I don't believe the SECU actually ruled it 813 00:56:22,719 --> 00:56:30,719 was a ripple is a crypto coin ripple. They were basically trying to see 814 00:56:30,719 --> 00:56:35,159 if this was a securities transaction, and the judge ruled that it's not a 815 00:56:35,199 --> 00:56:39,719 securities transaction, therefore they didn't break any rules. With that being said, 816 00:56:40,119 --> 00:56:45,559 Ripple took off. They were up seventy percent. On Thursday. Bitcoin followed 817 00:56:45,599 --> 00:56:50,119 suit as long with all the other cryptocurrencies. Bitcoin was up like five percent. 818 00:56:50,360 --> 00:56:53,920 But then on Friday we saw a massive sell off, basically erasing any 819 00:56:53,960 --> 00:56:58,320 gain that the crypto coin had the previous day, just right back to where 820 00:56:58,360 --> 00:57:02,360 it started. Very volatile week would change, no change. The regional bank 821 00:57:02,440 --> 00:57:07,679 indecks up another four percent this week, now twenty five percent off of that 822 00:57:07,800 --> 00:57:12,840 low that hit back on May the fourth. We talk about that because that 823 00:57:13,039 --> 00:57:16,760 was the big problem, the collapse of regional banking as we know it, 824 00:57:16,920 --> 00:57:22,320 right, and it seems that that has stabilized now. It's one of the 825 00:57:22,360 --> 00:57:25,239 reasons that this market's been off to the races. And Dean talked about in 826 00:57:25,280 --> 00:57:30,119 his monologue. You know Jamie Diamond really astute, obviously being the CEO of 827 00:57:30,199 --> 00:57:36,480 JP Morgan him saying that the biggest concern is still the banks, and most 828 00:57:36,519 --> 00:57:38,840 likely he's talking about the regional banks, right. The big banks have a 829 00:57:38,920 --> 00:57:43,440 very strong balance sheet. They just passed the stress tests by the FED, 830 00:57:43,639 --> 00:57:46,039 but regional banks aren't subject to that stress test by the FED, and they 831 00:57:46,079 --> 00:57:50,000 have a different type of balance sheet. There are a lot bigger in the 832 00:57:50,079 --> 00:57:52,880 commercial real estate sector, and as Dean was mentioning, who's going back to 833 00:57:52,960 --> 00:57:58,079 offices right, it's been a very slow migration to get back there, and 834 00:57:58,159 --> 00:58:01,599 there's still many vacancies in these offs and next year. Dylan talked about it 835 00:58:01,639 --> 00:58:07,480 a couple of weeks ago on the show. There's around what a billion a 836 00:58:07,519 --> 00:58:09,599 trillion, which is insane. It's over the next two or three years is 837 00:58:09,639 --> 00:58:15,280 over a trillion dollars worth of commercial real estate coming up for refinance. And 838 00:58:15,440 --> 00:58:19,880 if just a bunch of these buildings are vanking, they can't get these workers 839 00:58:19,920 --> 00:58:22,639 back, so they just kind of the room off. So these rates are 840 00:58:22,119 --> 00:58:27,559 higher than obviously what they were five years ago, and everyone's refinancing, those 841 00:58:27,559 --> 00:58:30,280 payments are gonna at least double, probably more, which trickles down to the 842 00:58:30,320 --> 00:58:34,360 rest of the economy, which if you know, those commercial real estate go 843 00:58:34,440 --> 00:58:37,159 bankrupt, it affects the regional banks balance sheet, which then affects more of 844 00:58:37,159 --> 00:58:42,079 the economy. So there's still that's the only black swan that you can kind 845 00:58:42,079 --> 00:58:45,559 of project out that you could possibly see everything else, who knows, Maybe 846 00:58:45,599 --> 00:58:49,559 it hits and then we hindsights twenty twenty. Oh, we should have known 847 00:58:49,599 --> 00:58:52,800 that was going to happen. But right now that's the only concern I can 848 00:58:52,880 --> 00:58:58,280 really see that could pan out, and really haven't seen anything else that could 849 00:58:58,320 --> 00:59:04,559 cause something like that. The commercial real estate is important because regional banks provide 850 00:59:04,639 --> 00:59:07,800 most of that financing right for commercial real estates. That's why we talk about 851 00:59:07,800 --> 00:59:12,239 it. One of your one of your phoenix companies, carbon I. Have 852 00:59:12,320 --> 00:59:15,559 you watched that this week? Well this year, they've been killing it. 853 00:59:15,079 --> 00:59:19,320 At the end of last year, the stock was three dollars and fifty cents. 854 00:59:19,679 --> 00:59:22,280 Looked like it was headed for bankruptcy. Since then, it has increased 855 00:59:22,280 --> 00:59:28,599 a thousand percent a thousand percent. Rallied again on Monday after the company said 856 00:59:28,840 --> 00:59:36,599 it expected exponential growth within its used electric vehicle segment, which is which demand 857 00:59:36,679 --> 00:59:40,440 continues to skyrocket for evs. See that's how irrational this market is. Because 858 00:59:40,480 --> 00:59:44,440 you just said at the first segment or the second segment of the show, 859 00:59:44,760 --> 00:59:50,559 CPI, one of the sectors used car sales down what nineteen percent. Then 860 00:59:50,639 --> 00:59:54,559 this a used car dealer, Yeah, up a thousand percent, probably because 861 00:59:54,599 --> 01:00:00,320 there are more technologue techniques, you know, savvy used car dealer. But 862 01:00:00,480 --> 01:00:04,840 realistically, how can they be doing so much better than all the other used 863 01:00:04,840 --> 01:00:09,159 cars people when we just saw that the average nationally is down nineteen percent year. 864 01:00:09,480 --> 01:00:15,760 The other one that's really doing great is Carmacks and at their stocks up 865 01:00:15,800 --> 01:00:17,559 thirty five percent or something for the year, most of it within the last 866 01:00:17,639 --> 01:00:22,360 ninety days. And I said last week I had some experience with them, 867 01:00:22,400 --> 01:00:25,280 and they're they're really a wonderful company. They were really easy to deal with, 868 01:00:25,440 --> 01:00:30,760 and what they said they stuck to and uh, you know, I'll 869 01:00:30,760 --> 01:00:34,280 walk in with a title and handed it to them and they gave me a 870 01:00:34,360 --> 01:00:37,079 check and have a nice day. I bring it up because these markets aren't 871 01:00:37,079 --> 01:00:40,199 based on fundamentals, right, because if you're looking out in minus nineteen percent 872 01:00:40,320 --> 01:00:44,119 year of a year, you don't think that's a good place for growth. 873 01:00:44,440 --> 01:00:45,800 If you see interest rates where they are right now, you don't think that's 874 01:00:45,800 --> 01:00:52,039 a good place for growth. But we're seeing it constantly. And JP Morgan 875 01:00:52,119 --> 01:00:55,000 came out on Thursday and downgraded the shares of Carvon, and this is kind 876 01:00:55,000 --> 01:01:00,840 of where I was leading with this. They said the valuation is disconnect materially 877 01:01:00,119 --> 01:01:06,199 from fundamentals, and I think we're seeing a lot of different companies where you 878 01:01:06,239 --> 01:01:13,800 could make the case that's fundamentals are are disconnected from the valuation. Lucid, 879 01:01:14,159 --> 01:01:16,280 you know, I would talk a little bit about the luxury electric vehicle company 880 01:01:16,320 --> 01:01:22,039 added four percent on Monday, gained roughly thirty four percent. Lucid since hitting 881 01:01:22,039 --> 01:01:25,599 a fifty two weeks long in June twenty third. June twenty third, there 882 01:01:25,599 --> 01:01:30,639 are thirty four percent at Pune, twelve percent on Wednesday on Newsday delivered to 883 01:01:30,679 --> 01:01:34,960 get this fourteen hundred and four vehicles in the second quarter, fourteen hundred and 884 01:01:34,960 --> 01:01:37,280 four. Just a reminder, Tesla did three hundred and sixty six thousand. 885 01:01:37,480 --> 01:01:43,400 It's a reminder about seventy percent of what they produced. Lucid was able to 886 01:01:43,440 --> 01:01:45,960 deliver about seventy percent of what they produced. Todd, you talked about this 887 01:01:46,039 --> 01:01:51,119 last week. With the exception of Ford, most of the electric vehicle companies 888 01:01:51,159 --> 01:01:54,800 are now producing more than they're selling. And you have to wonder, we've 889 01:01:54,840 --> 01:01:59,199 talked about this on the show as well. Do you get to a point 890 01:01:59,239 --> 01:02:02,679 where everyone that wants one and part two, which is equally important, can't 891 01:02:02,719 --> 01:02:07,119 afford one as one. Right, I will say that I was in the 892 01:02:07,119 --> 01:02:12,519 Tesla dealership a few weeks ago. It's an awfully busy place over at a 893 01:02:13,039 --> 01:02:15,480 river and oracle. Yeah, because I don't know if that would happen. 894 01:02:15,480 --> 01:02:17,239 I think new people would always come up that are up for a new car, 895 01:02:17,320 --> 01:02:20,760 that can afford it every time, you know, I don't think they'll 896 01:02:21,000 --> 01:02:22,719 run well. I mean, if you hit a recession, right, people 897 01:02:22,719 --> 01:02:28,360 aren't buying new cars. So if you have a glut of inventory on your 898 01:02:28,360 --> 01:02:31,360 balance sheet, then a recession hits, no one's buying new electric vehicles. 899 01:02:31,400 --> 01:02:35,559 You gotta now cut your prices, which is cutting your margin, and it's 900 01:02:35,599 --> 01:02:38,400 just a death spiral. Toyota has been slow to bring electric vehicles to the 901 01:02:38,440 --> 01:02:43,920 market. They've been preferring the hybrid. What Toyota does is important because they're 902 01:02:43,920 --> 01:02:46,760 the world's largest car builder right right, and they have quite a presence in 903 01:02:46,800 --> 01:02:51,880 the United States. Last week, the company said that a new solid state 904 01:02:51,920 --> 01:02:57,199 battery that they are developing will have a seven hundred and twenty mile range and 905 01:02:57,400 --> 01:03:00,000 charge in ten minutes. That would be a game change. Wow, that 906 01:03:00,199 --> 01:03:05,960 is a game changer. Range and charging times are the two biggest negatives for 907 01:03:06,000 --> 01:03:08,480 electric vehicles. Boy, it would just be a big win, fretty if 908 01:03:08,519 --> 01:03:14,320 they did have a different type of battery that actually could be charged in ten 909 01:03:14,320 --> 01:03:16,039 minutes and give you a seven hundred miles. I wonder if they're going to 910 01:03:16,079 --> 01:03:21,800 make it compatible with the Tesla, the Tesla charging stations, the socket. 911 01:03:21,880 --> 01:03:24,559 Yeah, that'd be interesting because that's those are big rabbles. But you know, 912 01:03:24,599 --> 01:03:31,079 we know the four GM rivan and somebody else recently went to the Tesla 913 01:03:31,199 --> 01:03:35,920 charging system. Let me talk about this a little bit because we've we've been 914 01:03:35,960 --> 01:03:42,280 trying to do a little educational on electric vehicles. Since around twenty five percent 915 01:03:42,320 --> 01:03:46,360 of all new car sales are electric vehicles. It's and it's growing rather rapidly. 916 01:03:49,360 --> 01:03:52,480 Someone said last week that since only five percent of automobile trips are more 917 01:03:52,519 --> 01:03:58,920 than thirty miles, range really doesn't matter. And I would say to that 918 01:03:59,000 --> 01:04:03,480 bunk that it's just bunk. If you're not charging at home, if you 919 01:04:03,559 --> 01:04:08,840 don't have a home charger and your vehicle is getting less than two hundred mile 920 01:04:08,960 --> 01:04:12,159 range, which is fairly normal, that's real world stuff. They say it 921 01:04:12,159 --> 01:04:15,119 it gets three hundred to fifty three hundred. If you get two hundred's that's 922 01:04:15,159 --> 01:04:18,440 a big deal in the real world. Because of the air conditioner, they 923 01:04:18,440 --> 01:04:21,760 don't talk about that when they give you the ratings. Because of the heat, 924 01:04:21,960 --> 01:04:26,840 they don't talk about that. Because of the radio, there's all kinds 925 01:04:26,840 --> 01:04:30,440 of electronics in the car. For instance, there's a feature in the Tesla 926 01:04:30,519 --> 01:04:34,639 that you can turn on that will make sure that the cabin never gets above 927 01:04:34,639 --> 01:04:39,360 a hundred degrees no matter where you're parking. You'll be parked outside in the 928 01:04:39,400 --> 01:04:44,000 sun in Phoenix and your cabin will never get above one hundred degrees. However, 929 01:04:44,440 --> 01:04:48,000 it's stuck in your battery dry, keeping that below. So you know, 930 01:04:48,440 --> 01:04:54,239 in the real world, the average person drives about one thousand miles a 931 01:04:54,320 --> 01:04:57,719 month, which is about two hundred and fifty miles a week. Now, 932 01:04:58,440 --> 01:05:01,320 in my Testla, I get about one hundred eighty miles on a full charge. 933 01:05:01,800 --> 01:05:05,159 They only want you to use about seventy percent of the battery for the 934 01:05:05,159 --> 01:05:08,679 life of the batter so it's about one hundred and twenty five miles, So 935 01:05:08,719 --> 01:05:11,079 you get about one hundred and twenty five miles and you're driving two hundred and 936 01:05:11,079 --> 01:05:14,559 fifty miles a week. Don't tell me. Range doesn't matter if you don't 937 01:05:14,599 --> 01:05:17,760 have a home charger. About two months into this thing, you're gonna want 938 01:05:17,800 --> 01:05:21,199 to put a gun to your head. Is that you're going to these charging 939 01:05:21,280 --> 01:05:29,320 stations every three or four days and spending forty five minutes to an hour every 940 01:05:29,400 --> 01:05:32,960 three to four days. If you had a gasoline car that would only go 941 01:05:33,000 --> 01:05:35,880 one hundred and twenty five miles and then you'd have to stop at the gas 942 01:05:35,880 --> 01:05:40,840 bump, you would get rid of that thing so fast. Now, I 943 01:05:40,880 --> 01:05:43,840 will say that if you're going to get an electric vehicle, the number one 944 01:05:43,880 --> 01:05:45,760 thing you need is a home charger. You've got to have a home charger. 945 01:05:45,880 --> 01:05:48,960 Without a home charger, it makes no sense at all. Number two, 946 01:05:49,360 --> 01:05:53,800 you need to think of this as you're a round town car. Now, 947 01:05:53,840 --> 01:05:56,800 can you take it out on the road. Absolutely. I have friends 948 01:05:56,800 --> 01:06:00,000 that go to take theirs to San Diego. I have friends that have taken 949 01:06:00,119 --> 01:06:03,159 to Pinetop to Albuquerque. I had another friend that took his on a five 950 01:06:03,239 --> 01:06:08,760 thousand miles trip. But I'm telling you that every one hundred and fifty miles 951 01:06:08,840 --> 01:06:12,599 or so, you're gonna have to stop and spend anywhere from forty five minutes 952 01:06:12,639 --> 01:06:16,480 to an hour charging that battery. So if you're going to San Diego, 953 01:06:16,559 --> 01:06:20,840 just as an example, first stop Hell of Bend. You're spending forty five 954 01:06:20,840 --> 01:06:25,239 minutes to an hour in hell of Bend, then Yuma, forty five minutes 955 01:06:25,239 --> 01:06:29,599 to an hour in Yuma, then El Centro, y El Centro because you're 956 01:06:29,599 --> 01:06:32,280 about to go up those mountains to get to get over the mountains into San 957 01:06:32,280 --> 01:06:36,239 Diego. Mountains eat your battery up big time, so you're gonna be spending 958 01:06:36,599 --> 01:06:41,320 forty five minutes to an hour in El Centro. You're talking about adding two 959 01:06:41,360 --> 01:06:46,599 to three hours to a trip just to San Diego in the real world, 960 01:06:46,599 --> 01:06:49,400 I don't think most people want to do that. Most people don't have the 961 01:06:49,519 --> 01:06:54,519 time. The other big problem with taking an electric vehicle out on the road 962 01:06:54,719 --> 01:06:58,920 they don't have a spare tire. How about that they've got two trunks and 963 01:06:59,039 --> 01:07:03,039 no spare tire. Whose brilliant idea was that they're thinking was that only fifteen 964 01:07:03,119 --> 01:07:09,440 percent of cars ever have a flat tire, So why why why put a 965 01:07:09,519 --> 01:07:12,960 spare time? I'm thinking, you know what if you took your car to 966 01:07:14,280 --> 01:07:19,440 the White Mountains and you were coming down into the Salt River Valley and you 967 01:07:19,519 --> 01:07:25,039 had a flat tire. You're gonna be sitting there for a while before Tesla 968 01:07:25,159 --> 01:07:29,239 roadside assistance gets to you, like maybe two hours in hundred degree weather. 969 01:07:29,480 --> 01:07:31,599 You can't sit in your car because you're gonna eat up your battery. Right, 970 01:07:31,679 --> 01:07:36,559 So I just think it's really if you're taking the car out on the 971 01:07:36,679 --> 01:07:40,440 road, it's a leap of faith. It's a leap of faith. So 972 01:07:40,559 --> 01:07:43,679 think of it as your round town car. Like I said, I find 973 01:07:43,679 --> 01:07:45,400 it odd that a car with two trunks doesn't have a spare tire. But 974 01:07:45,920 --> 01:07:49,760 that was a real shocker to me when when I got it. Stuff every 975 01:07:49,800 --> 01:07:54,320 day about the electric cars. I'm telling I'm having a I'm having more fun 976 01:07:54,400 --> 01:07:57,679 with a car than a person should have, right, But it is not 977 01:07:57,800 --> 01:08:00,599 without issues. You have to understand these. Not Number one is before you 978 01:08:00,639 --> 01:08:04,320 buy get an electric car, you have got to have a home charging thing. 979 01:08:04,360 --> 01:08:06,880 That's gonna cost you a thousand and fifteen hundred bucks to get that set 980 01:08:06,920 --> 01:08:11,199 up. Yeah, I want to kind of switch gears. We talked about 981 01:08:11,360 --> 01:08:15,199 that federal employees. We do with a lot of federal employees here we do 982 01:08:15,239 --> 01:08:16,880 the whole financial planning. But if you are a federal employee, you do 983 01:08:16,960 --> 01:08:20,039 know you kind of have a niche in the sense of how your retirement works. 984 01:08:20,399 --> 01:08:23,960 You're the few that still have pensions, and they are do have good 985 01:08:24,000 --> 01:08:26,720 pensions that you have to active military have a pension. If you're on the 986 01:08:26,760 --> 01:08:30,439 civilian side, you'll have a pension. You have the health benefits, you 987 01:08:30,520 --> 01:08:33,640 have the Fegley. It's all different. It's all subjected to the federal employees 988 01:08:33,680 --> 01:08:38,079 only it's different, and it's but what we can do, what we help 989 01:08:38,119 --> 01:08:40,359 with a lot, and what's been helping is a new program that we've been 990 01:08:40,439 --> 01:08:43,880 using. The financial planning still works the same in the sense that it does 991 01:08:43,960 --> 01:08:47,319 help the federal employee retirement plan to kind of get the idea of where they'll 992 01:08:47,359 --> 01:08:49,800 be when they do retire, and we're able to kind if you don't have 993 01:08:49,880 --> 01:08:55,239 your estimates for your pension, we can get a rough estimate. Obviously we 994 01:08:55,279 --> 01:08:58,880 don't have the exact high three years that you'll have if you're ten years out 995 01:08:58,880 --> 01:09:00,680 from retirement, but we can get kind of a rust eftimation and we can 996 01:09:00,720 --> 01:09:04,199 give you an idea of where your retirement will be if you are a federal 997 01:09:04,199 --> 01:09:08,159 employee. The other thing, too, is the Fegley Dylan. You know 998 01:09:08,199 --> 01:09:11,960 how expensive that. They don't realize how expensive it gets as they get more. 999 01:09:12,199 --> 01:09:16,359 Yeah, what we've learned is when you retire Fegley, premium skyrocket the 1000 01:09:16,399 --> 01:09:20,279 Federal Health Benefits FHB. A lot of people keep that because those are very 1001 01:09:20,279 --> 01:09:23,800 good benefits. Or if you have the VA or you have the trcare, 1002 01:09:24,359 --> 01:09:26,600 tend to keep that because those are good benefits. You don't want to ever 1003 01:09:26,600 --> 01:09:30,119 get rid of those. But Fegley Life insurance, just those premiums just increased, 1004 01:09:30,119 --> 01:09:33,279 probably they almost triple sometimes and a lot of people at that time don't 1005 01:09:33,279 --> 01:09:41,760 even need life insurance anymore. Federal employed government life insurance. Yeah, yeah, 1006 01:09:41,800 --> 01:09:45,600 it's a life insurance. It's a life insurance plan for it's federally employee 1007 01:09:45,600 --> 01:09:47,199 government life insurance. Yeah, okay, and you pay a premium on that. 1008 01:09:47,239 --> 01:09:51,039 And then but as you get older, obviously it's more expensive. People 1009 01:09:51,079 --> 01:09:54,840 don't realize how much it's gonna go. So what it does, what it 1010 01:09:54,920 --> 01:09:57,920 Fegley does is the premium doesn't really go up too much as you're working, 1011 01:09:57,920 --> 01:10:00,560 even if you're sixty five. It won't go up too much. But then 1012 01:10:00,840 --> 01:10:05,279 you retire at sixty five, that next time we'll just explode universal life then, 1013 01:10:05,399 --> 01:10:09,560 is that what it is? It's all it is. But what they're 1014 01:10:09,560 --> 01:10:12,640 saying, Yeah, a lot of people get rid of it because it's not 1015 01:10:12,640 --> 01:10:15,039 worth it. And a lot of people don't even need life insurance at the 1016 01:10:15,039 --> 01:10:16,560 time they get it when they start working for the FEDS when they're twenty five 1017 01:10:16,720 --> 01:10:19,720 thirty. But by the time they're sixty five, they don't actually need to 1018 01:10:19,760 --> 01:10:24,319 have the need for life insurance anymore. And if they do, we look 1019 01:10:24,319 --> 01:10:26,760 to get them term or something like that because a lot cheaper and a lot 1020 01:10:26,760 --> 01:10:30,159 more straightforward. Rather than him, they save a lot of money. Ideally, 1021 01:10:30,199 --> 01:10:31,680 if you get older, the only reason you would have life insurance just 1022 01:10:31,720 --> 01:10:39,039 for a state planning, and a lot of what we see is they don't 1023 01:10:39,119 --> 01:10:42,960 need life insurance. Right. The whole idea is, once you hit retirement, 1024 01:10:43,279 --> 01:10:45,600 you're dependent on yourself. That's it. You're not you don't have your 1025 01:10:45,640 --> 01:10:49,199 kids that are depending on you. You don't have your you know, hopefully 1026 01:10:49,199 --> 01:10:53,600 not, but let's face how many people we deal with that still have the 1027 01:10:53,720 --> 01:10:57,199 kids. Uh, asking for money? The only reason you have life insurance 1028 01:10:57,319 --> 01:11:00,279 is someone's depending on your income. If you have already a nest egg that 1029 01:11:00,279 --> 01:11:03,159 you've built, w really don't need life in And a lot of federal employees 1030 01:11:03,199 --> 01:11:06,680 have the survivor benefits where their spouse will get if they do one hundred percent 1031 01:11:08,279 --> 01:11:13,159 of the survivor benefit, they'll get fifty of their pension when they pass away. 1032 01:11:13,239 --> 01:11:15,079 But if the house isn't paid off, they want to keep the insurance 1033 01:11:15,600 --> 01:11:18,880 for the spouse, Okay, because if that way it pays off the house. 1034 01:11:18,920 --> 01:11:21,479 Well, that's that's what the whole what he was talking about with you 1035 01:11:21,520 --> 01:11:26,399 still get the pension, you still get the spouse of soul security, so 1036 01:11:26,680 --> 01:11:29,439 you have the other thing though you have to look at a lot of people 1037 01:11:29,479 --> 01:11:32,840 make the mistake and they take the biggest pension rather than the second to die 1038 01:11:32,880 --> 01:11:36,439 pension, right exactly, So you want to look at the benefit survivor side 1039 01:11:36,439 --> 01:11:40,960 of things too. Exactly. It's a pretty complex retirement plan, but we 1040 01:11:41,000 --> 01:11:43,840 can we become you can simplify it for you guys. If you come in 1041 01:11:43,880 --> 01:11:46,000 and we go through everything with you. We do step by step and we 1042 01:11:46,079 --> 01:11:49,399 take our time with it and we explain how everything's going to work for you 1043 01:11:49,439 --> 01:11:51,600 when you do. We've been dealing with this one about the last five years 1044 01:11:51,640 --> 01:11:56,079 or so three years now. Yeah. The biggest thing is when you have 1045 01:11:56,159 --> 01:11:59,279 something laid out in front of you, a roadmac, you know where the 1046 01:11:59,319 --> 01:12:01,520 income's coming from. That's what gives you the real peace of mind. Have 1047 01:12:01,680 --> 01:12:05,159 you gives you that security through retirement and that's really what you need. All 1048 01:12:05,199 --> 01:12:08,600 right, and you speak the language. All right, we gotta go, 1049 01:12:08,680 --> 01:12:10,880 We gotta go, but take a break, you know that. All right, 1050 01:12:10,880 --> 01:12:13,760 We'll be right back. Thanks for listening and call us be part of 1051 01:12:13,800 --> 01:12:15,319 it. Look at a website. Do whatever you need to do. We're 1052 01:12:15,399 --> 01:12:21,079 here for you. It's Money Matter Show. Welcome back to the Money Matter 1053 01:12:21,119 --> 01:12:25,079 Show. My name is Todd Glick. I'm here with Dylan Greenberg, Dave 1054 01:12:25,159 --> 01:12:29,760 Sherwood and my man's Dean. He's back, yes, and like think never 1055 01:12:29,960 --> 01:12:31,680 left. I could have done this show from any country you wanted me to. 1056 01:12:32,840 --> 01:12:35,760 I wanted to do it all yourselves. It's fine. And the enterty 1057 01:12:35,800 --> 01:12:41,680 part about it is you really were in the office every day in a way 1058 01:12:41,720 --> 01:12:45,520 of speaking, right, well, it's it's kind of crazy how you can 1059 01:12:45,600 --> 01:12:47,239 be anywhere in the world now, yes, and do business it's just a 1060 01:12:47,279 --> 01:12:50,520 different time. It was like three to ten, three and afternoon to ten 1061 01:12:50,600 --> 01:12:54,279 at night, you know. And we have a we have a new log 1062 01:12:54,359 --> 01:12:58,680 in situation with our clearing from OURBC where you can log into any computer in 1063 01:12:58,720 --> 01:13:02,399 the world and have yours. You have your trading screen right in front of 1064 01:13:02,399 --> 01:13:05,760 you. Yep. As quite incredible, just amazing. You know, we 1065 01:13:05,840 --> 01:13:11,119 talked about the inflation a little bit in the past segments. It's really interesting 1066 01:13:11,199 --> 01:13:15,079 right now the Fed Funds effective rate is now around you know, five point 1067 01:13:15,399 --> 01:13:20,720 eight percent the CPI, the core CPI has finally fell below that rate, 1068 01:13:21,000 --> 01:13:24,520 and so we're waiting for that. We've been waiting. That's when you should 1069 01:13:24,560 --> 01:13:27,840 see a real big drop in inflation. We're already seeing big drops. I 1070 01:13:27,840 --> 01:13:30,760 mean, we went from three point nine to three. This last reading should 1071 01:13:30,880 --> 01:13:34,199 see probably another big drop. The one thing that we continue to say is 1072 01:13:34,199 --> 01:13:40,520 housing, the biggest component of the CPI is actually increasing year over year. 1073 01:13:40,960 --> 01:13:45,319 You know, you wouldn't expect to see this with mortgage rates being so high 1074 01:13:45,319 --> 01:13:48,960 and increasing over double in over a year's period. But again we talk about 1075 01:13:48,960 --> 01:13:53,960 the inventory there. It was a big housing reports this week exactly what you're 1076 01:13:53,960 --> 01:13:58,000 talking about. Listings are twenty five percent below last year, and the lack 1077 01:13:58,039 --> 01:14:01,960 of supply is driving the price. Prices in fifty percent of the nation's largest 1078 01:14:02,000 --> 01:14:06,359 markets have either returned to their peak or gone above their peak. Yeah, 1079 01:14:06,359 --> 01:14:11,920 fifty percent of the markets. And that's forty two of the CPI exactly. 1080 01:14:11,960 --> 01:14:15,439 And you know, I have a connection to the housing market and the new 1081 01:14:15,479 --> 01:14:19,920 home by the new home sellers are still offering great deals in terms of buying 1082 01:14:19,960 --> 01:14:25,640 down rates, helping people make payments that are more attractive to them. And 1083 01:14:25,680 --> 01:14:30,359 so from a new home buyer standpoint, I mean they've been doing great, 1084 01:14:30,800 --> 01:14:34,560 they really have. And it's say that prices are weaker in areas that were 1085 01:14:34,800 --> 01:14:39,680 that benefited from the pandemic, and certainly Phoenix and two Sound would be two 1086 01:14:39,680 --> 01:14:44,239 of those, Yeah, Phoenix. More so. The experience I'm seeing through 1087 01:14:44,239 --> 01:14:47,880 my other son, Matthew, is they keep getting out bid on houses because 1088 01:14:47,920 --> 01:14:51,680 there's no inventory. All I'm saying is the new, the new that doesn't 1089 01:14:51,760 --> 01:14:57,880 existing homes new house, yeah, new new are home, yes, Yeah, 1090 01:14:57,920 --> 01:15:01,319 But I had any homecome on the market in my neighborhood, which very 1091 01:15:01,359 --> 01:15:04,600 there's only seventeen homes in my neighborhood. So yeah, but we've told us 1092 01:15:04,600 --> 01:15:08,920 about three now in the last year. Come no, no, this is 1093 01:15:08,960 --> 01:15:12,840 the first sale that's taken place in probably three or four years. And I 1094 01:15:12,960 --> 01:15:15,239 was the same house then that you keep talking it was. It was a 1095 01:15:15,359 --> 01:15:18,800 full, full price sale twenty four hours. Yeah, so you're right, 1096 01:15:18,840 --> 01:15:21,760 Dean. Yeah, well, there's other people that my other son put an 1097 01:15:21,760 --> 01:15:27,000 offer in. They literally want to look at another house on the they didn't 1098 01:15:27,000 --> 01:15:29,880 like it. On their way home, they saw this thing pop up a 1099 01:15:29,920 --> 01:15:31,520 news listing, so, oh, this looks good, let's go to it. 1100 01:15:32,000 --> 01:15:35,399 The people are actually there. They gave an offer before they left the 1101 01:15:35,439 --> 01:15:40,159 house. Okay, ye did, right, So it was like forty five 1102 01:15:40,239 --> 01:15:45,000 minutes. So he's called two hours after they were done, two hours after 1103 01:15:45,039 --> 01:15:47,479 they put it on. They gave him an offer and they basically said, 1104 01:15:47,520 --> 01:15:49,359 listen, I don't want to haggle, I don't want to do stuff like 1105 01:15:49,399 --> 01:15:51,800 that. This is what I want to do. I'll give you. It 1106 01:15:51,840 --> 01:15:56,520 was a fifteen thousand dollars over and I want you to buy it down for 1107 01:15:56,880 --> 01:16:00,760 you know, half of that. He offered them fifteen thousands more than the 1108 01:16:00,800 --> 01:16:02,920 list price. Yeah, he was tarry to get down and concessions and stuff. 1109 01:16:02,920 --> 01:16:05,720 So and then he gets concessions, which is the way a lot of 1110 01:16:05,720 --> 01:16:12,000 people are doing it now because then it helps you uh um taxwie yeah um. 1111 01:16:12,079 --> 01:16:15,520 But and then they call they accepted the offer. I think the bottom 1112 01:16:15,560 --> 01:16:18,920 line is is they were a family, they had little kids. They showed 1113 01:16:19,000 --> 01:16:23,199 up with the two year old. They hit it off great, and they 1114 01:16:23,199 --> 01:16:26,239 say, yeah, this is perfect. So they bought a house. Yeah, 1115 01:16:26,279 --> 01:16:28,439 it's a crazy how long it's been on there. I mean they it 1116 01:16:28,560 --> 01:16:30,560 was listed an hour and I'm hearing about it for the first time on the 1117 01:16:30,640 --> 01:16:33,560 radio. This happened last night at ten forty five days Okay, okay, 1118 01:16:34,039 --> 01:16:38,079 so that yeah, I feel a little bit. Everybody, Okay, that's 1119 01:16:38,159 --> 01:16:41,359 kind. And it's only a block away from Dylan. That's the amazing for 1120 01:16:41,760 --> 01:16:44,680 really, Yeah, it's like two minutes for me. Holy account. Our 1121 01:16:44,720 --> 01:16:46,680 neighbors. It's cool. I've heard of green Acres, but not Greenberg Acres. 1122 01:16:49,199 --> 01:16:51,640 They can walk to each other's house. Now, Oh that's amazing. 1123 01:16:51,800 --> 01:16:55,880 Yeah, that's amazing. And because he went visited your house and said this 1124 01:16:55,920 --> 01:16:58,800 is cool, and I like this neighborhood and no, no, it's completely 1125 01:16:58,920 --> 01:17:00,960 a neighborhood. I had to do it two streets over from him. Just 1126 01:17:01,000 --> 01:17:05,279 totally different. Yeah, completely random. Wow, right time. And you 1127 01:17:05,319 --> 01:17:08,640 know, we hear a lot of people talking about the US dollar and how 1128 01:17:08,640 --> 01:17:12,720 the US dollars under pressure. And you know, we talked about this last 1129 01:17:12,760 --> 01:17:16,039 week, Todd. I saw another ad on TV where this very sincere sounded 1130 01:17:16,119 --> 01:17:21,479 lady said, I bought gold to protect it from protect myself from the declining 1131 01:17:21,520 --> 01:17:27,560 dollar. In the last twelve years, gold is unchanged and the dollars up 1132 01:17:27,640 --> 01:17:31,239 thirty three percent. I'm not sure how goal is going to protect her. 1133 01:17:31,319 --> 01:17:35,840 The other thing everyone's worried about is a centralized currency, a digital currency. 1134 01:17:35,880 --> 01:17:40,079 Yeah, come, okay, and I have a call this week, and 1135 01:17:40,279 --> 01:17:42,760 this is how I explained it to him. I said, listen, it's 1136 01:17:42,760 --> 01:17:46,640 gonna happen at some time. Odd generation, it's gonna put it on hold 1137 01:17:46,640 --> 01:17:49,920 for a while. Okay, we still like cash, we don't trust the 1138 01:17:49,960 --> 01:17:55,680 government anything else. But at the younger generation, they're already there. They 1139 01:17:55,680 --> 01:17:58,239 don't have cash, they don't even know what cash is for the most part, 1140 01:17:58,279 --> 01:18:00,159 certainly don't have checking account Okay, checking accounts. I guess they have 1141 01:18:00,239 --> 01:18:03,520 ben Moo, they have zell, they have credit cards, which are connected 1142 01:18:03,560 --> 01:18:06,640 to checking accounts. Guys come out, you need you need to have account. 1143 01:18:09,840 --> 01:18:12,359 I mean, I cannot tell you the number of people are running into 1144 01:18:12,439 --> 01:18:15,000 the don't ever write checks ever, no write and checks and being connected to 1145 01:18:15,079 --> 01:18:17,960 who would write I know, it's it's a dying breede. Yeah, you 1146 01:18:18,000 --> 01:18:23,319 definitely to write. They don't have to give you checks anymore. I know, 1147 01:18:23,560 --> 01:18:26,039 having a check, you gotta have it. You gotta have an account, 1148 01:18:26,159 --> 01:18:29,680 yeah that you can get it and all that. But they won't mind 1149 01:18:29,760 --> 01:18:32,880 digital currency because they're already there right. They don't want to carry it around. 1150 01:18:33,079 --> 01:18:35,279 So it's gonna take some time, and it's some time, it'll be 1151 01:18:35,319 --> 01:18:39,600 there. Yeah. Can they be big problems from there? They could be 1152 01:18:39,600 --> 01:18:43,039 big problems. Now the US can shut down your account now. Yeah, 1153 01:18:43,159 --> 01:18:45,560 that's exactly what I'm gonna say. I mean, we already are in a 1154 01:18:45,640 --> 01:18:50,399 pseudo electronic coin currency. I mean, when when they print money or the 1155 01:18:50,640 --> 01:18:54,840 Federal Reserve, if they're giving a loan to a bank to help them out, 1156 01:18:55,039 --> 01:18:58,880 they're not sending them dollars, they're just putting credits in their balance sheet 1157 01:18:58,920 --> 01:19:01,920 and so they can loan that out. It's all electronic based right now. 1158 01:19:02,119 --> 01:19:04,800 I mean, everything is electronol, you know. So you want a fun 1159 01:19:04,920 --> 01:19:08,560 fact, I do, and this is one I think we can all relate 1160 01:19:08,560 --> 01:19:13,159 to. Okay, the average consumer spends ninety one dollars a month on Amazon. 1161 01:19:13,960 --> 01:19:17,399 It's that's every right. States where folks spend the most on Amazon are 1162 01:19:17,439 --> 01:19:21,039 kind of interesting. They're that states I would have expected. The number one 1163 01:19:21,079 --> 01:19:26,399 state that spends the most money on Amazon is Tennessee. Well that's close. 1164 01:19:26,640 --> 01:19:29,760 Yeah, no, that's very good. Dean Tennessee's number one. Number two 1165 01:19:29,920 --> 01:19:32,960 Delaware, I think probably probably the Bidens have something that I don't know. 1166 01:19:33,159 --> 01:19:36,960 Number three, Wisconsin, four Iowa, five, Washington. The states just 1167 01:19:38,079 --> 01:19:43,520 spend the least. West Virginia. I get that economically depressed area. I 1168 01:19:43,560 --> 01:19:46,600 get that um Daota hard to get to those mountain homes, I guess. 1169 01:19:46,640 --> 01:19:50,680 But Minnesota that's kind of an odd one one. Well except besides Minneapolis area, 1170 01:19:50,720 --> 01:19:55,039 it's pretty small towns and stuff. Well, so South Dakota and North 1171 01:19:55,079 --> 01:19:58,119 Dakota they're not on the list. At least they got well, they can't 1172 01:19:58,159 --> 01:20:01,279 get out of the house, so they just call it. Indiana was third, 1173 01:20:01,319 --> 01:20:04,960 Missouri fourth, main fifth. Arizona did not make either lists, so 1174 01:20:05,000 --> 01:20:11,760 apparently we're pretty average. We're probably spending ninety one dollars per husbands. There's 1175 01:20:11,800 --> 01:20:15,039 no way that's all they're spending. I'm thinking that's an Amazon package a day. 1176 01:20:15,079 --> 01:20:17,359 I'm thinking the same thing, four dollars or ten dollars. But there 1177 01:20:17,359 --> 01:20:23,840 are there probably are people out there who don't use Amazon. I don't know 1178 01:20:23,920 --> 01:20:26,479 them. I wouldn't know one person that doesn't. You know, no, 1179 01:20:26,640 --> 01:20:29,760 And there's hardly a day goes by the Amazon's not of my house. There's 1180 01:20:29,800 --> 01:20:32,119 more not a ninety one dollars at my house. It's just easy and your 1181 01:20:32,119 --> 01:20:36,720 house, dudan, Right, I just said that, between all of them, 1182 01:20:36,760 --> 01:20:41,760 this is the kind of world we're living in. Todd. Shopify jumped 1183 01:20:41,840 --> 01:20:46,239 five percent on Thursday after their CEO announced plans for an AI assistant tool. 1184 01:20:46,640 --> 01:20:50,920 That's all he did, no details, just they're gonna have an AI assistant 1185 01:20:50,960 --> 01:20:55,960 tool. Stock goes up five percent. Sounds a lot like the dot com 1186 01:20:55,960 --> 01:21:00,479 bubbles, all right. Anytime there is AI mentioned, just jumps because then 1187 01:21:00,520 --> 01:21:03,199 they think about the future for the next ten years. And the Microsoft. 1188 01:21:03,239 --> 01:21:08,199 Microsoft had a big day on Friday after they entered the cyber security business. 1189 01:21:08,239 --> 01:21:12,399 Now they're already an AI, but it was also Activision. Now they're gonna 1190 01:21:12,439 --> 01:21:15,960 be well the no. Earlier in the week. Earlier in the week they 1191 01:21:16,000 --> 01:21:20,800 got a pop because a judge ruled that they could take over Activision. And 1192 01:21:20,920 --> 01:21:25,119 then on Friday though, what they said is they're gonna give them ninety days 1193 01:21:25,199 --> 01:21:30,439 more to give them the information to uh that they need to to allow them 1194 01:21:30,439 --> 01:21:33,640 to do it. That's because the f FTC appealed Friday. They filed their 1195 01:21:33,680 --> 01:21:39,520 appeal right and then, and the British government is still on record as being 1196 01:21:39,560 --> 01:21:43,000 against it. They won't they won't allow it. Two American companies, why 1197 01:21:43,079 --> 01:21:45,800 why are they even involved? Right? Also, like the FDC, their 1198 01:21:45,840 --> 01:21:49,840 track records getting really bad. Right now, they're gonna win? Are they 1199 01:21:49,840 --> 01:21:53,600 gonna win? Something? Like I said in my monologue, the one thing 1200 01:21:53,680 --> 01:21:57,199 of all the countries that I went to they have in common. They do 1201 01:21:57,279 --> 01:22:00,000 not like the government. They don't trust the government, and they hate them 1202 01:22:00,000 --> 01:22:03,119 IDA and they think it's biased. Yeah. I just was puzzled at how 1203 01:22:04,359 --> 01:22:09,680 how England's involved in this merger at all. Have you seen the signs around 1204 01:22:09,680 --> 01:22:13,960 Pema County about panhandling? No, they're all over Pema County, talked about 1205 01:22:14,000 --> 01:22:17,800 you know people about yeah, yes, don't support panhandlers, right, instead, 1206 01:22:17,880 --> 01:22:21,560 support the agencies that help people who are down under the luck. I 1207 01:22:21,560 --> 01:22:25,560 think I think it's an attempt to try to cut down on some of the 1208 01:22:25,600 --> 01:22:28,680 panhandley hopefully, yeah, and the homeless and stuff and go to a place 1209 01:22:28,680 --> 01:22:30,159 as place as they can go, right because the City of Two Sound won't 1210 01:22:30,159 --> 01:22:34,079 do anything about it. They're you know, they're tree hugging whatever. But 1211 01:22:34,279 --> 01:22:39,359 Pema County has had made it illegal years ago. You can't panhandle in Pema 1212 01:22:39,399 --> 01:22:43,239 County years ago. But City of Two Sound is still running rampant. I 1213 01:22:43,239 --> 01:22:46,479 wonder if those signs will Being that we've already talked about the navjacary balancing on 1214 01:22:46,560 --> 01:22:49,880 the twenty fourth before they open, this is going to be really interesting to 1215 01:22:49,880 --> 01:22:54,560 watch over the next few days. What kind of an impact that has on 1216 01:22:54,600 --> 01:22:58,720 the Magnificent seventeen, if if any at all. Um So, maybe that's 1217 01:22:58,760 --> 01:23:01,119 when the video fell so much. Who knows well. So often we have 1218 01:23:01,239 --> 01:23:04,239 to come up to these events like this and we say, boy, it's 1219 01:23:04,239 --> 01:23:09,119 really gonna this is gonna happen. That's gonna happen, and nothing. If 1220 01:23:09,159 --> 01:23:12,720 it does happen, it's an opportunity of the money some of the shares that 1221 01:23:12,760 --> 01:23:15,319 you took off. As we've been talking about the last couple weeks, I'm 1222 01:23:15,319 --> 01:23:17,640 buy back in if the video dropped back on the four hundred United I mean, 1223 01:23:18,159 --> 01:23:19,920 when I get back in a little bit. Yeah, No, I 1224 01:23:20,319 --> 01:23:24,119 think that would be a very attractive because again, if it's gonna happen, 1225 01:23:24,199 --> 01:23:30,720 it's happening because the forcing selling right right the The The drop though on Friday 1226 01:23:30,760 --> 01:23:34,479 was was pretty pretty stunning in the last couple of hours in Feuter. Yeah, 1227 01:23:35,560 --> 01:23:39,600 right after it hit all the time high on Friday. It is absolutely 1228 01:23:39,600 --> 01:23:42,159 it's going over. It went up. It went algorithms, I did it. 1229 01:23:42,199 --> 01:23:45,640 I went up twenty points on Thursday and twenty points on Friday. You 1230 01:23:45,680 --> 01:23:48,680 saw this with Tesla. They everyone's raising their talkings with five hundred to five 1231 01:23:48,800 --> 01:23:51,720 fifty. Yeah, that means it's gonna blow by five fifty at some time 1232 01:23:51,760 --> 01:23:56,239 and probably go to six fifty seven hundred. They are selling these chips at 1233 01:23:56,279 --> 01:24:00,439 ten thousand dollars. There's no competition. The next three or four part is 1234 01:24:00,800 --> 01:24:03,640 they're gonna just keep showing great numbers and growth. I agree. And if 1235 01:24:03,680 --> 01:24:06,760 you and one of the analysts said that you either have to be on this 1236 01:24:06,880 --> 01:24:12,840 train or you're gonna get left behind. Right, and but again, cautious, 1237 01:24:12,439 --> 01:24:15,399 caucious and you know, and you'll have opportunities. Don't go don't go 1238 01:24:15,399 --> 01:24:19,600 out there a Monday and buy a ten percent position in the Nvidia. It's 1239 01:24:19,640 --> 01:24:23,800 just not not the way to do it. It's not cautious. No, 1240 01:24:23,880 --> 01:24:26,840 it's not cautious. And it's like Deans at the time. It's a time 1241 01:24:26,880 --> 01:24:30,439 to be cautious. It's a time to be defensive. Right, yep. 1242 01:24:30,800 --> 01:24:36,119 Remember FED employees. As Dylan said, we know what's going on with do 1243 01:24:36,199 --> 01:24:40,239 retirement plants. We've been working with a lot of them. We've been putting 1244 01:24:40,279 --> 01:24:43,920 on semin odds, we're doing workshops, we sit down, We're doing a 1245 01:24:44,039 --> 01:24:46,199 tire thing for you. Even if you got five years ago, ten years 1246 01:24:46,239 --> 01:24:49,199 ago, we will help them. We'll be back with some money by the 1247 01:24:49,239 --> 01:24:59,640 show. We're back. It's some money by the show. This is the 1248 01:24:59,800 --> 01:25:02,399 green Burg I got Dave, I got Dylan, I got Todd. Uh. 1249 01:25:02,880 --> 01:25:05,680 You want more of this, just go to Dean Greenberg Money Managers with 1250 01:25:05,720 --> 01:25:13,720 Dean Greenberg Podcast, our website or or iHeartRadio. You can pick it up. 1251 01:25:14,359 --> 01:25:17,920 We keep the back ones on there, um and um all chive to 1252 01:25:17,960 --> 01:25:20,560 any more than welcome to look at it. There's a lot of stuff on 1253 01:25:20,560 --> 01:25:24,680 our website. Go to it. It helps with your planning. It gives 1254 01:25:24,680 --> 01:25:27,880 you some ideas about who we are, what we do. And you'll be 1255 01:25:27,920 --> 01:25:32,760 seeing a new employee that just passed his test. I'll let Todd introduce him. 1256 01:25:32,960 --> 01:25:39,119 Uh yeah, his name is Sebastian Borsini. Recently passed his Series sixty 1257 01:25:39,119 --> 01:25:42,520 five, already got his SIE. So he'll be joining the team as a 1258 01:25:42,560 --> 01:25:45,399 registered advisor. Very happy to have him. Great addition to the team and 1259 01:25:45,600 --> 01:25:48,960 the only bad thing about him is the U a graduate. But other than 1260 01:25:49,000 --> 01:25:54,279 that, Todd, I think you're the one that has I wouldn't. I 1261 01:25:54,279 --> 01:25:58,319 can't believe you just let everyone know your AESO Go Devils. Yeah, well 1262 01:25:58,359 --> 01:26:00,680 all that ain't gonna happen. Yeah, more WILDCAF fans here. So you 1263 01:26:01,840 --> 01:26:06,199 go? Where where did the devils go? So there you go, Dad, 1264 01:26:06,239 --> 01:26:11,239 that's my response to here. Although I'm not a grad deals now do 1265 01:26:11,279 --> 01:26:13,800 you have a grad? D's now do you have a grad? We live 1266 01:26:13,880 --> 01:26:17,119 here, grew up here. Yeah, we support our community. Bruins Go 1267 01:26:17,279 --> 01:26:21,079 Devils. But it's good and you know, you know, a model is 1268 01:26:21,079 --> 01:26:26,119 bringing on young people training and being part of the deal for the next two 1269 01:26:26,199 --> 01:26:30,039 three five years, understanding what we're doing. And you don't throw him into 1270 01:26:30,079 --> 01:26:31,279 a fire. So you know down the road here you're gonna hear him on 1271 01:26:31,319 --> 01:26:34,359 the radio. We'll give him some stuff to do and some ideas. Very 1272 01:26:34,359 --> 01:26:39,479 smart kid graduated well, passed its tests on the first one. Um, 1273 01:26:39,560 --> 01:26:42,479 and it's excited. So you know that's the idea. Now, you know, 1274 01:26:42,800 --> 01:26:46,279 I want I want young people that want to learn and learn the right 1275 01:26:46,319 --> 01:26:49,199 way. And the client always comes first. It's not about how much money 1276 01:26:49,199 --> 01:26:51,760 they put in their pocket. And they have a good time. So we're 1277 01:26:51,880 --> 01:26:56,479 very happy to have some basketball seining with us. And uh, here's the 1278 01:26:56,479 --> 01:27:00,119 best part. He speaks fluent Spanish. Yes he does. Okay, So 1279 01:27:00,119 --> 01:27:02,319 in a society that we live here, if if that's the case and somebody 1280 01:27:02,399 --> 01:27:05,159 needs that, and we've had a lot of some people come in and you 1281 01:27:05,199 --> 01:27:09,520 know, um, it's a it's a little Barrie. I can get through 1282 01:27:09,560 --> 01:27:13,600 it like I did in Portugal, but there's no way I can make them 1283 01:27:13,600 --> 01:27:17,359 feel comfortable enough. Now who absolutely will do that? So if you if 1284 01:27:17,359 --> 01:27:20,479 you, if if you want to have done in Spanish, We haven't. 1285 01:27:20,520 --> 01:27:23,399 We have somebody that could do it for you know, we have a really 1286 01:27:23,479 --> 01:27:27,880 unique team here where we have the experience with the gray hairs over here, 1287 01:27:27,960 --> 01:27:31,520 right, I don't have gray hair. You have gray hairs. Yeah, 1288 01:27:31,560 --> 01:27:34,119 well, don't talk about my bead, talking about the head and I don't 1289 01:27:34,159 --> 01:27:36,720 have gray hair. You have some gray hairs gone, that's old, gray 1290 01:27:36,760 --> 01:27:43,800 went white? How long ago two thousand and two? Really pointing we got 1291 01:27:43,880 --> 01:27:46,880 we got over eighty years of experience with these two and then us three coming 1292 01:27:46,960 --> 01:27:51,079 up following in the footsteps. We have not only the experience but the longevity. 1293 01:27:51,119 --> 01:27:56,199 We hear so many times with people coming in, how long is is 1294 01:27:56,239 --> 01:27:59,239 Dean gonna keep working? Right? Well, then they don't know me. 1295 01:27:59,279 --> 01:28:00,239 Then if they don't, they think I'm about well, I take them some 1296 01:28:00,319 --> 01:28:04,279 time off and go have fun in my life. Absolutely, let's say said 1297 01:28:04,279 --> 01:28:06,840 it doesn't been the way you are. I go on the computer, I 1298 01:28:06,880 --> 01:28:11,560 have phone calls. I spoke to clients all to see the right and a 1299 01:28:11,560 --> 01:28:14,479 lot of people they talk with their advisor and they're like, he's he's kind 1300 01:28:14,520 --> 01:28:16,159 of getting he's as old as I am. Like what happens. If my 1301 01:28:16,239 --> 01:28:19,920 advisor dies, you have to buy a new one, right. And that's 1302 01:28:19,920 --> 01:28:23,560 why it's nice to have a team where you're not relying on just one person. 1303 01:28:24,159 --> 01:28:27,479 You have a whole team working for you. That's the difference between us 1304 01:28:27,479 --> 01:28:30,960 and a lot of places where you go, well, and Dylan's a junior 1305 01:28:30,000 --> 01:28:33,960 dean and you're a junior sure Wooden. And then we got we're not sure 1306 01:28:34,000 --> 01:28:41,960 words of Ashton fish yet, but a junior sue right. Uh yeah, 1307 01:28:41,960 --> 01:28:44,680 Hey, we haven't talked about China at all, and what's going on over 1308 01:28:44,720 --> 01:28:47,520 there that the uh, they continue to slow, their economy continued to slow. 1309 01:28:47,760 --> 01:28:50,800 They continue to struggle to come out of the pandemic. Uh, you 1310 01:28:50,800 --> 01:28:57,439 know they've been they've been three years of lockdown, which was ridiculous, and 1311 01:28:57,520 --> 01:29:00,880 they're still struggling to come out of But they reducer prices sank five point four 1312 01:29:00,920 --> 01:29:05,239 percent last month. We're talking about our producer prices being up less than they 1313 01:29:05,279 --> 01:29:10,520 expected, up less expect there's drop five point four percent. And not only 1314 01:29:10,600 --> 01:29:14,600 that, but it's the ninth consecutive month it declines, the steepest decline in 1315 01:29:14,720 --> 01:29:19,199 eight years in China US trades. This is the funny part about it, 1316 01:29:19,319 --> 01:29:25,119 that report came out and the shares of US traded stocks with exposure to China, 1317 01:29:25,640 --> 01:29:28,880 it would be Yum Brands, would be Starbucks, it would be when 1318 01:29:29,119 --> 01:29:32,720 Peter Orts would be three. They all took off, they all rallied when 1319 01:29:32,720 --> 01:29:36,960 that report came out. And I'm thinking why because they think it's bad enough 1320 01:29:38,399 --> 01:29:42,520 that the government's gonna have to do stimulus, right, And I could totally 1321 01:29:42,520 --> 01:29:45,479 see that out absolutely, and we know how that worked out for us. 1322 01:29:45,159 --> 01:29:47,319 You know, we know how that worked out for our stock market when the 1323 01:29:47,359 --> 01:29:50,279 government started stimulating. Well, that's what I was thinking, like, that 1324 01:29:50,399 --> 01:29:55,840 might be that one opportunity where and not a lot of people are talking no 1325 01:29:56,760 --> 01:30:01,000 China stocks don't is that? Is it China stocks? Hn etf oh, 1326 01:30:01,279 --> 01:30:03,239 I don't know. There's a couple of them, Yeah, a couple of 1327 01:30:03,279 --> 01:30:05,720 them. I don't know. I can't think what it is. I think 1328 01:30:05,800 --> 01:30:11,840 when when we decided to move away from our Chinese exposure, I've seen no 1329 01:30:11,880 --> 01:30:14,920 I was gonna say CNP, but yeah, it could be CHC. I 1330 01:30:14,960 --> 01:30:18,399 wouldn't really want to buy China into vidual. It was thea is what a 1331 01:30:18,960 --> 01:30:24,600 China cf A? That? But that alone yeah, I'm talking about he's 1332 01:30:24,600 --> 01:30:29,119 talking about the Chinese e TF. I was in it for years. I 1333 01:30:29,159 --> 01:30:32,479 traded it for years. But I can't think what the symbol is um Novavacs. 1334 01:30:32,520 --> 01:30:36,760 Have you guys been watching that Novavacs thing? Remember Novavacs was the four 1335 01:30:36,800 --> 01:30:41,520 dollars stock before the pandemic, and it went to three hundred and thirty one 1336 01:30:41,560 --> 01:30:45,840 dollars. Where'd you come up with? Yeah, c H C h N 1337 01:30:45,399 --> 01:30:48,800 China. That makes sense, that makes sense. I think there's another one 1338 01:30:48,840 --> 01:30:50,760 though. That's good. I re memory wasn't going too bad? Guy? 1339 01:30:50,880 --> 01:30:56,800 Is that the blue chip Chinese uh ETF Yeah, HNN eleven forty seven to 1340 01:30:56,880 --> 01:30:59,560 so. Yeah, anyway, Novavacs was four dollars, it went to three 1341 01:30:59,680 --> 01:31:02,560 thirty one, and they finally came up with a vaccine. This is the 1342 01:31:02,600 --> 01:31:08,239 company has never sold anything. They finally came up with a vaccine, and 1343 01:31:08,279 --> 01:31:11,359 then then they had to get approved by the FDA. They had approved by 1344 01:31:11,359 --> 01:31:14,479 the FDA, and then they have to get the manufacturing facility up and running 1345 01:31:14,760 --> 01:31:17,720 and it's over, you know. So they went from four dollars to three 1346 01:31:17,720 --> 01:31:20,840 dollars, three hundred and thirty one dollars and then back to four dollars. 1347 01:31:21,279 --> 01:31:26,880 Guess what, It jumped to nine dollars on Monday on news Canada is going 1348 01:31:26,920 --> 01:31:31,760 to pay them three hundred and fifty million dollars for unused COVID nineteen vaccines. 1349 01:31:32,359 --> 01:31:39,680 Canada is buying unused COVID vaccine for three hundred and fifty millions. What I 1350 01:31:39,840 --> 01:31:43,640 started a museum or what I mean, why wouldn't they It's Canada museum, 1351 01:31:43,760 --> 01:31:48,359 or yeah, it's Canada man. But really, there's still so many people 1352 01:31:48,359 --> 01:31:53,279 that wear masks overseas. It's unbelievable. Really, Yeah, and especially I 1353 01:31:53,279 --> 01:31:56,960 mean, you know, so I saw some people with double masks. I'm 1354 01:31:57,000 --> 01:32:00,680 like, I wanted to laugh, but I didn't let be who they all? 1355 01:32:00,199 --> 01:32:04,000 I've got to outside outside the wearing these oh my god, double mask 1356 01:32:04,079 --> 01:32:09,520 outside. It's also like people don't understand like the bacteria, Like you're breathing 1357 01:32:09,640 --> 01:32:13,960 in your own air constantly. That's not good for you. On Asia, 1358 01:32:14,000 --> 01:32:16,720 we've we've we've seen mask for for years and years, but we know why. 1359 01:32:16,880 --> 01:32:20,640 Number One, they have pretty bad air pollution. Number Two, the 1360 01:32:20,680 --> 01:32:24,920 facial identity thing. That's a big one, which is huge. I think 1361 01:32:25,000 --> 01:32:29,600 that's the primary thing, right especially in China. Because we know those particles 1362 01:32:29,840 --> 01:32:32,359 don't get stopped by the mask. I mean, you see all the time 1363 01:32:32,399 --> 01:32:36,239 when people blow their vape through their mask, all that vape comes out. 1364 01:32:36,760 --> 01:32:40,640 If you blow a vape as someone's face, it's gonna get in that mask. 1365 01:32:41,000 --> 01:32:45,319 If you're a medical grade mask, A little different story, isn't it. 1366 01:32:45,880 --> 01:32:48,079 Yeah, but you're not talking about only ninety five. No, very 1367 01:32:48,119 --> 01:32:51,079 few people actually wear the N ninety five. All right, let's wrap this 1368 01:32:51,279 --> 01:32:58,760 up with important stuff. Uh, market is rallied a lot. I always 1369 01:32:58,760 --> 01:33:01,560 look at things as risk. We award strategies. I believe the risk is 1370 01:33:01,560 --> 01:33:04,600 greater than the reward. Right now, we need to see a pullback, 1371 01:33:04,640 --> 01:33:09,920 so evaluations them so high. That makes more sense to us. That does 1372 01:33:09,960 --> 01:33:13,000 not mean you sell everything. That means you keep your call. But look 1373 01:33:13,000 --> 01:33:16,880 at your portfolio and understand you need to mitigate some risks that allows you to 1374 01:33:16,880 --> 01:33:20,720 still make money if this thing keeps getting stretched, but if it already snaps 1375 01:33:20,760 --> 01:33:25,239 back, you will obviously will make some money on the mitigating risk. We 1376 01:33:25,239 --> 01:33:28,279 talked about it earlier to show on how to do it. If you don't, 1377 01:33:28,359 --> 01:33:30,960 if you need more, call us, sit down with us. We'll 1378 01:33:30,960 --> 01:33:33,359 show you what we do and how we do it. We're not afraid to 1379 01:33:33,399 --> 01:33:36,279 tell you we really not. We're not hiding anything. We're not trying to 1380 01:33:36,279 --> 01:33:40,800 be above you. We learn, we educate, We love to edge. 1381 01:33:40,800 --> 01:33:45,119 OK. If we educate you, then you trust us more that you know, 1382 01:33:45,239 --> 01:33:47,439 if you know we know. So many people like to go away above. 1383 01:33:47,680 --> 01:33:50,960 So many people want to use fear and tell you just the buy annuities 1384 01:33:50,960 --> 01:33:55,520 to buy things that you know, you think look great on the surface, 1385 01:33:55,880 --> 01:33:58,760 but they turn out they might not be great because it's something you don't need. 1386 01:33:59,520 --> 01:34:02,640 Go ahead and make sure you have a financial plan. Whether you're thirty, 1387 01:34:03,039 --> 01:34:08,760 forty, fifty, sixty, seventy eighty years old, even there's a 1388 01:34:08,760 --> 01:34:12,359 plan that you need to look at to make sure that you're going to be 1389 01:34:12,439 --> 01:34:15,520 done in the right direction. But the sweet spot is fifty to seventy five. 1390 01:34:16,199 --> 01:34:19,079 That's the sweet spot that you need a plan and that way you could 1391 01:34:19,079 --> 01:34:21,920 make sure that you don't run out of money, that you can live your 1392 01:34:21,960 --> 01:34:29,119 life stressless, stress free? Stressless a word. I don't know that stressless 1393 01:34:29,239 --> 01:34:32,000 funds good. I feel like I'm stressless is a word? Pretty sure it's 1394 01:34:32,000 --> 01:34:34,159 a word, is it? I don't know? Stress free sounds good. 1395 01:34:34,279 --> 01:34:40,680 I'm able to check myself. I fact check con you can go on on 1396 01:34:40,720 --> 01:34:43,920 our website and you can check out our Google reviews. That's always a good 1397 01:34:43,920 --> 01:34:47,800 thing to do. And I bet you there's somebody in your life that deals 1398 01:34:47,800 --> 01:34:53,039 with Greenberg Financial. Yeah, if you're wanting to know about as we have 1399 01:34:53,159 --> 01:34:57,840 nothing to sell here, We don't have products to sell. We're like deeds. 1400 01:34:57,960 --> 01:35:00,319 We're trying to educate. We're trying to help people. We really truly 1401 01:35:00,399 --> 01:35:03,840 are, at the end of the day, trying to do what's the absolute 1402 01:35:03,960 --> 01:35:06,880 best thing for you. And if we make some money along the way, 1403 01:35:06,880 --> 01:35:10,960 that's wonderful. Yeah. I mean that's not our driver. That's not our 1404 01:35:10,960 --> 01:35:14,000 primary driver, Dave, Dave. We have to make money otherwise we're not 1405 01:35:14,039 --> 01:35:16,039 in business. Okay, you know, you know, but at the end, 1406 01:35:16,039 --> 01:35:18,640 it's the secondary consideration. Because we do a good job for people, 1407 01:35:18,640 --> 01:35:20,479 we're gonna make more. That was my point, right, Yeah, that 1408 01:35:20,479 --> 01:35:23,560 was my point. We're not. The way it came across is oh, 1409 01:35:23,600 --> 01:35:26,359 we don't care about I came across perfectly. You just misunderstood it. No, 1410 01:35:26,680 --> 01:35:31,840 you know what, that's great, Well, welcome home. Let's get 1411 01:35:31,840 --> 01:35:36,600 back in norm around here. Oh man, let's get back. I was 1412 01:35:36,600 --> 01:35:41,000 just gonna say, God has given us all the ability to take care of 1413 01:35:41,039 --> 01:35:44,159 these people, giving us the knowledge. That's why we love to do what 1414 01:35:44,199 --> 01:35:46,319 we do, because it truly we make a difference in these people's lives. 1415 01:35:46,399 --> 01:35:49,720 And that's all we're trying to do is help. Yeah, you hear so 1416 01:35:49,800 --> 01:35:55,520 much about being a what but do share we I laugh at that because when 1417 01:35:55,720 --> 01:35:58,439 eight nineteen eighty eight, when I set up my company, I sat on 1418 01:35:58,479 --> 01:36:00,159 the other side and said, Okay, what do I want to do as 1419 01:36:00,199 --> 01:36:01,680 a client? Do it as a client. When I tell people I've been 1420 01:36:01,720 --> 01:36:05,039 managing money for a feast since nineteen eighty eight that are in this business, 1421 01:36:05,239 --> 01:36:11,239 they think it's unbelievable how much foresight I had before this even happened. Bottom 1422 01:36:11,239 --> 01:36:15,199 line is we do the right thing, always do the right thing, and 1423 01:36:15,279 --> 01:36:16,880 if we don't, we make it right. All right, We'll be back 1424 01:36:17,119 --> 01:36:20,640 next week with your where your money matters. But in between, you can 1425 01:36:20,680 --> 01:36:25,239 call us any time and get any ideas that you need to help. Come 1426 01:36:25,279 --> 01:36:30,159 sit in and get that free financial plan. But let's be happy. Let's 1427 01:36:30,479 --> 01:36:33,319 we need to stay healthy. Stay healthy. At the end of the day, 1428 01:36:33,560 --> 01:36:39,359 we want to strive to be probable, say it's all