JUNE 18 Father's Day Podcast

1 00:00:02,439 --> 00:00:06,120 Good morning, everybody. This is the Money Matters Show. I'm Dylan Greenberg. 2 00:00:06,240 --> 00:00:10,080 I'm here with Dave Sherwood. Dean is over in Europe and tossed down 3 00:00:10,080 --> 00:00:13,240 to Mexico. Is out of the country except us. Is Dylan, Hugh 4 00:00:13,279 --> 00:00:16,440 and me in two empty chairs. Is indeed we have a couple of people 5 00:00:16,480 --> 00:00:20,160 on though throughout the show is gonna Melissa from All American Lending, and we 6 00:00:20,280 --> 00:00:26,000 have John Sibilia from Edward law Yay Py and Sunday morning, the eighteenth of 7 00:00:26,079 --> 00:00:30,239 June, and it is Father's Day. Is indeed the Father's Day edition of 8 00:00:30,280 --> 00:00:33,240 The Money Matters Show. I want to say Happy Father's Day all the guys 9 00:00:33,240 --> 00:00:37,079 out there who are lucky enough who have gotten that job. When my daughter 10 00:00:37,119 --> 00:00:41,640 wishes me happy Father's Date, my response is best job in the world and 11 00:00:41,759 --> 00:00:46,479 in parentses thanks to your mom because I got to have all the fun stuff 12 00:00:46,520 --> 00:00:49,240 and when it went south, I turned her over to mom. Yeah it's 13 00:00:49,240 --> 00:00:51,479 funny. So yeah, I mean, I'll say Happy Father's Day to my 14 00:00:51,520 --> 00:00:54,280 dad, even though probably won't hear this over there about an eight hour difference, 15 00:00:54,320 --> 00:00:59,200 but he's struggling over there. He got it. He's struggling because he 16 00:00:59,200 --> 00:01:02,479 likes to dance, but he's older now, and he turned sixty six four 17 00:01:02,560 --> 00:01:03,319 days before he left, and now he can't dance as well. And he 18 00:01:03,359 --> 00:01:07,680 got caught up and he twisted his knee. Now they think they don't know 19 00:01:07,719 --> 00:01:11,000 for sure, but it might be an acl tear because he likes to dance 20 00:01:11,040 --> 00:01:15,640 too much. Now, the story I got was that he had rubber soul 21 00:01:15,799 --> 00:01:19,840 shoes on, yeah, and tried to make one of his dance moves, 22 00:01:19,879 --> 00:01:23,879 and the rubber soul shoe got stuck and over he went and into the stage 23 00:01:23,920 --> 00:01:26,959 and his foot didn't move, and he kept moving and there went the knee. 24 00:01:26,000 --> 00:01:30,840 So he's gonna be in Europe for another three weeks, walking on crutches, 25 00:01:30,359 --> 00:01:34,560 yep, checking out all the museum in history there on crutches. It's 26 00:01:34,760 --> 00:01:37,879 a typical Dean because I was talking to him yesterday and he was kind of 27 00:01:37,879 --> 00:01:41,319 funny. You know that initially when something like that happens, and then the 28 00:01:41,439 --> 00:01:45,640 next day it starts to set in that things are not going to be right, 29 00:01:46,120 --> 00:01:49,519 and so his whole thing and this is so Dean. He said, 30 00:01:49,560 --> 00:01:53,599 I just need to have an attitude adjustment and we'll be just fine. And 31 00:01:53,719 --> 00:01:56,480 that's so, Dean, I mean, it is what it is. Right, 32 00:01:56,840 --> 00:02:00,519 Life comes at you and you just you you adjusted. He's in the 33 00:02:00,519 --> 00:02:04,760 adjustment process right now. Once he gets adjusted and his crutches and your mom 34 00:02:04,840 --> 00:02:07,639 is a trooper and in a way they go, yeah, he seems like 35 00:02:07,639 --> 00:02:10,199 he's a good spirits But yeah, like you said, it is what it 36 00:02:10,240 --> 00:02:13,080 is. Like, what are you gonna do? You have to deal with 37 00:02:13,080 --> 00:02:16,719 what happened? But a lot of people would would cancel the trip, you 38 00:02:16,759 --> 00:02:22,560 know, any number of things. And it's just his His whole attitude about 39 00:02:22,639 --> 00:02:25,960 adversity is so refreshing. Yeah, I definitely think I got that from him. 40 00:02:27,240 --> 00:02:29,599 Yeah, I think show going to read the disclaimer to get there. 41 00:02:29,680 --> 00:02:32,159 Yeah. So we've been doing the show for thirty three years now. This 42 00:02:32,159 --> 00:02:36,719 show is sponsored by the Greenberg Financial Group. You can listen on this channel 43 00:02:36,719 --> 00:02:40,439 seven ninety Cannasty or iHeartRadio. We also have the podcast on Spotify, Apple 44 00:02:40,520 --> 00:02:45,960 Music, any of the big streaming services that have the podcast. The show 45 00:02:45,960 --> 00:02:50,759 discusses different investment types, different products and strategies. Every product and strategy have 46 00:02:50,919 --> 00:02:54,120 some type of inherent risks, and we struggly encourage our listeners to properly understand 47 00:02:54,360 --> 00:02:58,840 the risk to determine whether to buy, sell, or hold. The Greenberg 48 00:02:58,879 --> 00:03:01,680 Financial Group is a register with the SEC and a member of FINER and SIPPIC. 49 00:03:01,800 --> 00:03:06,319 You can visit our website at Greenberg Financial dot com for more information or 50 00:03:06,319 --> 00:03:09,159 give us a call at five to zero five four four four nine zero nine. 51 00:03:09,199 --> 00:03:14,000 Fantastic and what a week it was in the market. You go back 52 00:03:14,039 --> 00:03:16,960 to May twenty fourth. May twenty fourth, the SMP five hundred got up 53 00:03:17,039 --> 00:03:23,159 to that August high, that forty three twenty five, where we frankly thought 54 00:03:23,159 --> 00:03:27,560 it would fail didn't. We didn't think it would have enough energy to get 55 00:03:27,560 --> 00:03:30,240 through that. It busted through that like a hot knife through butter. And 56 00:03:30,360 --> 00:03:35,960 we've been off to the races ever since. Broke above forty four hundred on 57 00:03:36,120 --> 00:03:42,479 Friday, up two point six percent for the week to a fourteen month high. 58 00:03:42,520 --> 00:03:46,240 And I don't think not only did we really not see this coming, 59 00:03:46,280 --> 00:03:47,719 I don't think a lot of other people saw it coming either, Which is 60 00:03:47,759 --> 00:03:53,680 why you see that dramatic, parabolic type of move is you have a lot 61 00:03:53,759 --> 00:03:59,479 of people who are are hedged, are short YEA and the performance is coming 62 00:03:59,520 --> 00:04:01,680 to the end of June. You get paid on your performance, and there's 63 00:04:01,719 --> 00:04:06,360 a lot of people scrambling to do something for performance. But again Daling, 64 00:04:06,439 --> 00:04:10,520 it was still the magnificent seven. It is. But what I was looking 65 00:04:10,560 --> 00:04:14,039 at right now is interesting that the RSP, the equal weight at SMP five 66 00:04:14,120 --> 00:04:16,560 hundred, yes, was up just about the same as the SMP five hundred 67 00:04:16,560 --> 00:04:20,079 this past week, and for the month it's up over a percent more than 68 00:04:20,160 --> 00:04:24,199 the SMP five hundred. That's a good point. So that's interesting the fact 69 00:04:24,240 --> 00:04:28,560 that we think it's the magnificent seven, but the other four hundred ninety three 70 00:04:28,560 --> 00:04:30,879 stocks are now kind of waking up a little bit, kind of holding their 71 00:04:30,920 --> 00:04:34,639 own helping out. Now. I did look at the value exchange traded funds 72 00:04:34,680 --> 00:04:40,199 on Friday, which are the blue chip diving in payers where most conservative investors 73 00:04:40,240 --> 00:04:43,519 have and they're still down for the year, still slightly down for the year. 74 00:04:43,600 --> 00:04:46,920 Oh it's tech TEX running this Tex for sure. The magnificent seven is 75 00:04:46,000 --> 00:04:49,560 Kramer calls them, Yeah, running the show. And Nvidia new all time 76 00:04:49,639 --> 00:04:54,279 high, multiple new all time highs. Last year. You got Meta a 77 00:04:54,319 --> 00:04:57,439 two hundred and eighty dollars a share. Again, you have Tesla, which, 78 00:04:57,720 --> 00:04:59,680 like I mean, you're going to talk about it no, I know 79 00:05:00,000 --> 00:05:01,160 for a fact, to talk about him more because he's been I'm gonna talk 80 00:05:01,160 --> 00:05:08,240 a lot about Tesla the second hour, Ron Land's last Week, our guy 81 00:05:08,279 --> 00:05:13,600 with Solar and our EV guy. Yeah, he and I after the show, 82 00:05:13,680 --> 00:05:15,720 he and I were going back and forth, kind of arguing a little 83 00:05:15,759 --> 00:05:19,519 bit about the whole thing. And and it's it ignited, Uh, the 84 00:05:19,639 --> 00:05:23,720 curiosity in me. And I've been doing a lot of research and I've got 85 00:05:23,759 --> 00:05:28,759 some some really interesting things. Uh. The the EV market is is growing 86 00:05:29,439 --> 00:05:33,879 exponentially. Um, and I've got some some facts about that. I think 87 00:05:34,000 --> 00:05:38,600 I think we'll find. By the way, Uh, we're going to celebrate 88 00:05:38,639 --> 00:05:43,720 Father's Day by taking Tomorrow off and and people will say, what do you 89 00:05:43,759 --> 00:05:47,720 mean taking him out? What? What's what? Holidays on Monday, juneteenth, 90 00:05:47,279 --> 00:05:49,439 June. This is the second year it is the federal holiday. So 91 00:05:49,480 --> 00:05:54,399 that all the markets are closed. Our office will be closed. Mail mail's 92 00:05:54,439 --> 00:06:00,240 clanks, yep, anybody anybody that can be pretty much anybody they can be 93 00:06:00,279 --> 00:06:05,680 closed is closed. And Dylan said, Uh, in the disclaimer there on 94 00:06:05,720 --> 00:06:10,920 our website or the iHeart app, you can you can look at fast shows 95 00:06:10,959 --> 00:06:14,079 if you're If this is the first time you're tuning in and said, what 96 00:06:14,199 --> 00:06:17,040 are these guys all about you? There's dozens of shows available for you to 97 00:06:17,040 --> 00:06:21,279 look at on iHeart Radio, the iHeart website, the ihard app or our 98 00:06:21,279 --> 00:06:26,360 own Greenberg Financial. Yeah, and if you look up the podcast that you 99 00:06:26,439 --> 00:06:30,600 got to look up Greenberg or Money Matters with Dean Greenberg, because there's a 100 00:06:30,600 --> 00:06:31,879 ton of Money Matters out there, but it'll show up if you put with 101 00:06:32,040 --> 00:06:35,199 Dan Greenberg. Yeah, sorry to him. I was sitting with a guy 102 00:06:35,680 --> 00:06:39,680 last week and he was trying to get on his phone and we did have 103 00:06:39,759 --> 00:06:43,600 to go with Dean Greenberg. Yeah, just to narrow it down exactly, 104 00:06:43,839 --> 00:06:46,600 and I think you enjoy it. Past shows are are are fun if you 105 00:06:46,800 --> 00:06:49,879 if you miss Dean's voice, and this is the second week he's gone, 106 00:06:49,920 --> 00:06:54,040 I think he's gone three more, so it'll be a while before you hear 107 00:06:54,120 --> 00:06:57,319 Dean's voice again. If you miss him, you can go back and listen 108 00:06:57,360 --> 00:07:02,560 to his monologue, his wonderful monologues on any of those stations. Headlines this 109 00:07:02,560 --> 00:07:06,160 week, dealing a couple of big headlines. Big one was the fed first 110 00:07:06,319 --> 00:07:10,959 Rate pause since they've been hiking it for the last fifteen months. But they're 111 00:07:11,000 --> 00:07:15,079 saying there's about a sixty to sixty five percent chance that they're gonna hike at 112 00:07:15,079 --> 00:07:18,879 another twenty five basis points in July, and they're not done increasing them. 113 00:07:19,160 --> 00:07:25,079 This is where you I've said before on the show that the market will from 114 00:07:25,120 --> 00:07:29,680 time to time getting a situation or getting into a place where all news is 115 00:07:29,680 --> 00:07:32,519 good news or all news is bad news. It just matters how you frame 116 00:07:32,560 --> 00:07:38,959 it. And what you just said is exactly what I'm talking about. The 117 00:07:39,000 --> 00:07:42,560 Fed did not raise interest rates. That was widely expected. There was like 118 00:07:42,600 --> 00:07:46,160 an eighty five percent expectation that that's what would happen. Now. Many market 119 00:07:46,319 --> 00:07:51,199 pundits, in fact, a majority of market pundits, believed that there would 120 00:07:51,199 --> 00:07:58,480 be at least one interest rate cut before year end, maybe two interest rate 121 00:07:58,600 --> 00:08:01,639 cuts before year We've not been on that team, you know, we don't 122 00:08:01,639 --> 00:08:07,439 believe that's the case. But the Fed comes out not only did they not 123 00:08:07,680 --> 00:08:11,040 suggest there were dividend cuts coming, but they suggested there might be two more 124 00:08:11,319 --> 00:08:18,319 increases. Now that would have sent the market in a world where all news 125 00:08:18,439 --> 00:08:20,720 is bad news, that would have sent the market down three four, five 126 00:08:20,800 --> 00:08:24,160 hundred flights. Yeah. Instead, the market just shrugged it off. The 127 00:08:24,160 --> 00:08:26,879 market shrugged it off, because here's how the market took it. When all 128 00:08:26,040 --> 00:08:31,159 news is good news, you frame that, oh, well they're almost done, 129 00:08:31,759 --> 00:08:35,360 yep, exactly, and that's how they framed it. Yeah, I 130 00:08:35,399 --> 00:08:39,480 mean it did. And yet we have not been in the business of thinking 131 00:08:39,480 --> 00:08:43,799 that they're going to cut rates anytime soon, because they still won't waiver from 132 00:08:43,840 --> 00:08:46,519 the two percent inflation target that they have. And I mean inflation came in 133 00:08:46,559 --> 00:08:50,720 with four and a half percent year over year, four annualized came out of 134 00:08:50,720 --> 00:08:52,320 four, so got to cut it in a half still. Yeah, So 135 00:08:52,320 --> 00:08:56,120 it's it was the biggest drop since they've started. And we've talked about this 136 00:08:56,159 --> 00:09:00,840 on the show too. Once the Fed funds rate, which is currently five, 137 00:09:01,600 --> 00:09:07,639 gets above the rate of inflation, inflation typically drops very quickly. And 138 00:09:07,840 --> 00:09:13,679 what we saw in May was the largest month over month drop since they start 139 00:09:13,679 --> 00:09:18,799 a raising rate. Yeah, from essentially from five to four. So it's 140 00:09:18,799 --> 00:09:22,320 on the right track. And that's why people were happy as well, because 141 00:09:22,360 --> 00:09:24,440 I mean, dropping that much and you're really only two percent off in the 142 00:09:24,480 --> 00:09:26,679 grand scheme of things, but you still have to cut that in half and 143 00:09:26,720 --> 00:09:31,600 it still has to work. So now what we're waiting to see is did 144 00:09:31,600 --> 00:09:35,440 this rate pause? Is it gonna be helpful or are they going to think 145 00:09:35,480 --> 00:09:37,720 that they got to raise a fifty basis points next July or in July. 146 00:09:39,480 --> 00:09:41,679 But I don't think that's gonna happen. I'm just saying, kind of playing 147 00:09:41,360 --> 00:09:46,559 what could happen data dependent exactly. A couple of other big headlines last week 148 00:09:46,879 --> 00:09:50,200 the Denver Nuggets Denver Nuggets forty seven years as a franchise, and they finally 149 00:09:50,200 --> 00:09:54,559 won, finally won the NBA championship after forty seven years, first time ever. 150 00:09:54,759 --> 00:10:01,240 Also, this weekend starts the college baseball worlds here with your Kentucky Wildcats 151 00:10:01,480 --> 00:10:07,120 almost there, I know, and my TCU horn Frogs are in the shell. 152 00:10:07,360 --> 00:10:11,120 You guys have had a good year. Football obviously was good, and 153 00:10:11,159 --> 00:10:13,960 then now baseball is good. Yeah, So it's it's it's been a good 154 00:10:15,039 --> 00:10:18,039 year for TCU and we for school with ten thousand kids exactly. It's it's 155 00:10:18,120 --> 00:10:20,480 kind of kind of fun to see the little guy win from time to time. 156 00:10:20,480 --> 00:10:24,600 But you know, the Fed did talk about did signal a couple more 157 00:10:24,679 --> 00:10:28,440 radio increases this year. I gotta believe that's overkill. Yeah, I just 158 00:10:28,519 --> 00:10:31,559 think that I don't see the necessity. Well, the thing is that the 159 00:10:31,639 --> 00:10:35,320 data is good. For the next month, you could see them change their 160 00:10:35,360 --> 00:10:41,159 tone. Yeah, so we'll see producer prices were actually down from April to 161 00:10:41,279 --> 00:10:46,559 May. They actually declined by three tenths of a percent producer prices. That's 162 00:10:46,600 --> 00:10:48,279 the wholesale price level, which is good. That's a good thing. So 163 00:10:48,320 --> 00:10:52,799 we're on the right track. But what the market is seen right now that 164 00:10:52,320 --> 00:10:56,399 again, we talked about the technical breakout. A lot of by technical, 165 00:10:56,440 --> 00:11:01,440 we're talking about charts, and there are a lot of trade and money managers 166 00:11:01,480 --> 00:11:07,759 that use the charts. And when you have a chart where forty three twenty 167 00:11:07,759 --> 00:11:09,200 five is the high, and you went up to that and then you fell 168 00:11:09,200 --> 00:11:11,679 back, and you went up to that again and fell back, you would 169 00:11:11,720 --> 00:11:16,000 expect the third time up you're going to fall back. Well, when that 170 00:11:16,080 --> 00:11:20,840 doesn't happen, when it breaks through that, then that tells you that we 171 00:11:20,039 --> 00:11:26,360 better beginning long in a hurry. And the next seventy five points, actually 172 00:11:26,399 --> 00:11:30,200 the next almost hundred points happened in about five minutes. It seems like it 173 00:11:30,240 --> 00:11:33,440 was a day at day and a half. Yeah, I mean, once 174 00:11:33,440 --> 00:11:35,360 it starts running, it just runs because then everybody has the fear of missing 175 00:11:35,399 --> 00:11:39,720 out, so they just jump in, whether it's the ETS or they try 176 00:11:39,720 --> 00:11:41,759 and get into these tech stocks which are still running running the show. Because 177 00:11:41,759 --> 00:11:45,600 the NASDAC was up the most for the week at three point two percent, 178 00:11:46,399 --> 00:11:48,399 and for the year it's up thirty one percent, which is almost wiping out 179 00:11:48,440 --> 00:11:52,759 all of last year's losses. In christ year lost thirty three percent, not 180 00:11:52,840 --> 00:11:54,399 even six months in, not even halfway through the year, and has almost 181 00:11:54,399 --> 00:11:58,559 come back that way. And that's that is in due part to the Magnificent 182 00:11:58,600 --> 00:12:05,360 seven. This is the best first half for the semiconductor sector ever in history. 183 00:12:07,039 --> 00:12:13,440 It's the strongest rally overall since November of twenty one, and it's based 184 00:12:13,480 --> 00:12:18,720 on the belief that we've got this Goldilocks scenario going right now. And I'm 185 00:12:18,720 --> 00:12:22,200 not disparaging that are criticizing that, but that's what we have. We have 186 00:12:22,240 --> 00:12:26,759 a Goldilocks scenario where there are going to be no more rate increases. Yep, 187 00:12:28,159 --> 00:12:31,720 We've avoided the recession. We are going to have a soft landing, 188 00:12:33,559 --> 00:12:39,720 and artificial intelligence is going to drive corporate darning still levels unseen. Yeah, 189 00:12:39,759 --> 00:12:43,559 I mean, I feel like that's really what's running the two is the AI 190 00:12:43,600 --> 00:12:46,320 because semiconductors are doing but they're the ones that run AI, just like in 191 00:12:46,440 --> 00:12:48,720 video, keeps sitting new highs because they are the leader in the chips that 192 00:12:50,679 --> 00:12:54,720 AI needs. And there's just sold out still yeah, they still you can't 193 00:12:54,720 --> 00:13:01,320 get any I think one question I get asked by our visors as well as 194 00:13:01,320 --> 00:13:05,759 our clients, what do we do now? I mean, the market is 195 00:13:07,200 --> 00:13:11,720 twenty six percent off of the October low. Yeah, twenty six percent. 196 00:13:11,799 --> 00:13:13,480 Technically we're in a bull market now, absolutely, And there was a it 197 00:13:13,600 --> 00:13:18,639 was a big discussion. Remember when the SMP thirty four ninety one back in 198 00:13:18,679 --> 00:13:22,440 October and then it came off of that level. There was an awfully lot 199 00:13:22,480 --> 00:13:26,279 of people believing that we would have to either retest that or maybe go below 200 00:13:26,320 --> 00:13:30,879 that. Yeah, now, I said no, I said thirty four ninety 201 00:13:30,919 --> 00:13:33,360 one was going to be the bottom. That was it? Right? And 202 00:13:33,080 --> 00:13:37,200 every now and then you get one, right, like a buying hog finds 203 00:13:37,200 --> 00:13:39,480 an acorn from time to time. Yeah, as we say in South Dakota. 204 00:13:41,879 --> 00:13:45,919 But thirty four ninety one looks like it's now in the rearview mirror, 205 00:13:45,960 --> 00:13:50,159 and I can't imagine that there's anyone now that believes that we're going to revisit 206 00:13:50,320 --> 00:13:56,039 that level. So what do you do now? I think probably the thing 207 00:13:56,080 --> 00:14:01,519 you don't do is aggressively buy. Yeah, I agree with that. You 208 00:14:01,559 --> 00:14:03,960 don't want to aggressively buy when these stocks have run up to fifty two week 209 00:14:05,039 --> 00:14:07,720 highs so quickly, and they just keep doing it like at one point there's 210 00:14:07,759 --> 00:14:11,720 gonna be profit taking there will it will come. And then what I see 211 00:14:11,720 --> 00:14:13,759 happening with that, especially with these tech stocks, is you got the big 212 00:14:13,799 --> 00:14:16,960 investors, institutions and all will start taking profits or whatever happens. Maybe you 213 00:14:18,000 --> 00:14:20,039 can see it after June thirtieth, because, like you said, that's the 214 00:14:20,120 --> 00:14:24,720 end of the quarter. Money managers usually try and get their institutions, try 215 00:14:24,759 --> 00:14:26,360 and get as much out of it as they can towards the end of the 216 00:14:26,399 --> 00:14:30,960 quarter. Once that happens, they might take some profits at the next quarter. 217 00:14:31,279 --> 00:14:33,440 And then it's the retail investors, the individual investors on robin Hood and 218 00:14:33,480 --> 00:14:37,039 all that tend to get scared once they see and video all of a sudden 219 00:14:37,120 --> 00:14:41,679 drop ten percent, they'll sell, just take their profit because they're done. 220 00:14:41,759 --> 00:14:43,720 They don't want to be part of it anymore. They're kind of nervous. 221 00:14:43,759 --> 00:14:46,440 They lost ten percent, and that's how you can see a slide happen real 222 00:14:46,519 --> 00:14:50,480 quick, because tech stocks do run quick. Both ways, we've been trimming 223 00:14:52,519 --> 00:14:56,039 for lack of a better word here. And if you're a home gamer and 224 00:14:56,679 --> 00:15:01,120 you have end video that you bought it a hundred, four hundred and twenty 225 00:15:01,159 --> 00:15:03,320 five, four hundred and thirty whatever, you've got to take some off the 226 00:15:03,360 --> 00:15:07,879 table. You've got to trim that back. That doesn't mean it doesn't go 227 00:15:07,960 --> 00:15:09,919 to five hundred or six hundred or seven hundred, but it could easily be 228 00:15:09,960 --> 00:15:13,120 three hundred. Well's the idea. That's why you need a plan of what 229 00:15:13,159 --> 00:15:15,080 you wanted, a plan of action, and what you want to do. 230 00:15:15,120 --> 00:15:18,320 If you want to have a video be three percent of your portfolio and now 231 00:15:18,360 --> 00:15:20,039 it's run up, Like you bought it at one hundred dollars for three percent 232 00:15:20,039 --> 00:15:22,399 of your portfolio, and now it's that for undred and thirty five dollars to 233 00:15:22,480 --> 00:15:26,519 share. What you're probably about was say eight ten percent of your portfolio. 234 00:15:26,559 --> 00:15:31,960 Now take the seven percent gain and just go back to three percent. Now 235 00:15:31,960 --> 00:15:35,039 you take all your profit and you're still in an video in case it does 236 00:15:35,159 --> 00:15:37,799 run to five hundred dollars, six hundred dollars. You don't know, but 237 00:15:37,840 --> 00:15:41,080 at least it took some off the table, and you'll be happy with that. 238 00:15:41,120 --> 00:15:43,200 You'll be able to sleep better at night because rather than being full in 239 00:15:43,279 --> 00:15:46,440 the whole time or full out, you don't have to go full out just 240 00:15:46,480 --> 00:15:50,679 because it's at four thirty five. Take your profit a little bit and then 241 00:15:50,759 --> 00:15:52,919 let the other part run. Well said, Well, I said, because 242 00:15:52,919 --> 00:16:00,799 the economy does continue to show signs and flowing corporations are continuing to be cautious 243 00:16:00,799 --> 00:16:07,559 in their outlook. Yeah, we saw the A lot of comment about the 244 00:16:07,600 --> 00:16:10,799 recession is now off the table. There isn't going to be a rason. 245 00:16:10,879 --> 00:16:12,279 Well, there will be a recession, I promise you, I guarantee it. 246 00:16:12,320 --> 00:16:15,080 Actually, well, a lot of economists are saying there's still going to 247 00:16:15,120 --> 00:16:22,519 be a recession, not like you still have that idea going around. So, 248 00:16:22,360 --> 00:16:26,840 but the one thing that we're seeing doing and is a widening of not 249 00:16:26,919 --> 00:16:30,360 only is the yield curve inverted, and I'll talk a little bit more about 250 00:16:30,399 --> 00:16:36,879 that, but we're actually seeing a widening of that inversion we talked last week 251 00:16:37,399 --> 00:16:40,879 on the show, and maybe be a good time to look at the housekeeping. 252 00:16:41,519 --> 00:16:45,279 Remember we talked about how long can that yield curve stay inverted? Inverted 253 00:16:45,360 --> 00:16:48,200 means that a ten year rate of interest is below the two year radi of 254 00:16:48,200 --> 00:16:52,679 interest, something that's very unusual, not unheard of, but unusual. An 255 00:16:52,679 --> 00:16:59,679 inverted yield curve, excuse me, it's excuse me, it's an unusual event. 256 00:17:00,000 --> 00:17:03,880 Typically proceeds a period of economic downturn. Obviously, people think that in 257 00:17:03,920 --> 00:17:07,519 the short term rates are higher, but in the long term rates are going 258 00:17:07,559 --> 00:17:11,200 to be lower because the economy is going to be weaker. Federative is going 259 00:17:11,200 --> 00:17:15,920 to be cutting interest rates to prop up the weakening economy, so rates will 260 00:17:15,960 --> 00:17:19,599 be lower down the road. The yield curve inverted on April first of twenty 261 00:17:19,640 --> 00:17:25,039 two, and last week we ask is this an unusually long time for the 262 00:17:25,079 --> 00:17:30,319 yield curve to be inverted? And it is not surprisingly. Over the last 263 00:17:30,359 --> 00:17:33,119 fifty years, the typical inversion has been under ten months. That's been the 264 00:17:33,160 --> 00:17:40,319 average, under ten months. We're currently at fifteen months. Interestingly, recessions 265 00:17:40,319 --> 00:17:45,680 tend to start within eighteen months of the yield curve inverting, which is kind 266 00:17:45,680 --> 00:17:49,720 of interesting since the average inversion period is ten months. That means that most 267 00:17:49,799 --> 00:17:56,119 inversions there isn't a recession that follows that would not be consistent with statistical norms. 268 00:17:56,640 --> 00:18:00,839 Yeah, but we're getting close. If eighteen months is the is the 269 00:18:00,920 --> 00:18:06,920 period before from inversion to recession, we're getting pretty down closed. Well. 270 00:18:06,920 --> 00:18:10,519 It's kind of this whole market for the last two years has kind of proven 271 00:18:10,559 --> 00:18:17,119 why statistics and theories are kind of just are there because we look at history 272 00:18:17,160 --> 00:18:18,839 and as money managers, you look at history what happened and how do we 273 00:18:18,920 --> 00:18:22,839 predict it? And that's what we're saying. If the yield inverts, then 274 00:18:23,720 --> 00:18:27,839 it has happened in the past, that is gonna be a recession leading that, 275 00:18:29,240 --> 00:18:30,720 But it doesn't always happen. And that's what we're seeing right now is 276 00:18:30,759 --> 00:18:33,440 how we're still waiting, waiting, waiting, And that's why you see a 277 00:18:33,480 --> 00:18:37,079 lot of economists say that we're going to be in a recession because that's just 278 00:18:37,119 --> 00:18:40,839 how it's happened in history following an inversion of the yield curve. If you 279 00:18:40,920 --> 00:18:44,240 if you predict a recession, you will absolutely be right at some point, 280 00:18:44,400 --> 00:18:47,400 at some point, like they stopped watch being right twice a day, exactly, 281 00:18:47,440 --> 00:18:48,839 yeah, exactly, And it's the invert. Yeah, you say recession 282 00:18:48,880 --> 00:18:52,160 is coming, Oh, it was just two years too early. I think 283 00:18:52,200 --> 00:18:56,039 one of the things that we look at here at Greenberg Financial before we take 284 00:18:56,079 --> 00:19:00,720 a position in something, we ask ourselves, if it doesn't work, how 285 00:19:00,759 --> 00:19:06,039 do I explain why I did it? Here? Yeah, and right now 286 00:19:06,079 --> 00:19:11,240 with the market up twenty seven percent off of the October low just October and 287 00:19:11,440 --> 00:19:17,039 up fifteen percent for the year, it's hard to explain why you bought most 288 00:19:17,079 --> 00:19:22,000 things. So we have not been buying most things. We've been trimming exactly. 289 00:19:22,240 --> 00:19:23,640 And that's what we're talking about, because we did have gains in Nvidia 290 00:19:23,640 --> 00:19:29,920 in different stocks. If your risk tolerance allowed for that kind of correct everybody 291 00:19:30,000 --> 00:19:33,839 can take the Nvidia's up and downs. Balanced account typically isn't going to have 292 00:19:33,960 --> 00:19:36,599 much Nvidia. They'll have it in the ETF form. Yeah, yeah, 293 00:19:36,759 --> 00:19:40,400 exactly, but exactly. Yeah, I can't hurt to take that. And 294 00:19:40,400 --> 00:19:44,079 then that's what we do look at because we can't necessarily why why would you 295 00:19:44,079 --> 00:19:45,839 want to buy it at the two week guys, it just doesn't make sense 296 00:19:45,839 --> 00:19:48,559 to us when we're trying to manage somebody's money, especially if they're more on 297 00:19:48,599 --> 00:19:52,759 the balance side just doesn't make sense. But there always is opportunities in the 298 00:19:52,799 --> 00:19:55,960 markets. You just got to find them. Like I mean, for instance, 299 00:19:56,000 --> 00:19:59,440 take Disney. A lot of these companies, a lot of these growth 300 00:19:59,480 --> 00:20:02,960 companies, that big companies, good companies, Apple, Amazon, Google and 301 00:20:03,160 --> 00:20:06,640 Video Meta and all them or have run up to fifty two week highs, 302 00:20:06,640 --> 00:20:10,359 if not all time highs, and then he got Disney that's just down right 303 00:20:10,359 --> 00:20:11,839 now. It's in the nineties, it's down quite a bit from it's all 304 00:20:11,839 --> 00:20:15,680 time high, but it's still Disney, and it's still a good company, 305 00:20:15,680 --> 00:20:18,920 and they're still trying to put it into the right direction with Bob Iger taking 306 00:20:18,000 --> 00:20:22,680 back over again and trying to go with his vision again. There's still a 307 00:20:22,720 --> 00:20:26,400 good company. So if your restaurant allows for that, it is that's in 308 00:20:26,480 --> 00:20:29,319 the buying opportunity, right there is how we kind of view that. But 309 00:20:29,359 --> 00:20:33,160 we're not going to go chasing the fear of missing out trade the magnificence seven. 310 00:20:33,240 --> 00:20:37,079 Yeah, we're not in the business of the trading or chasing that. 311 00:20:37,240 --> 00:20:41,079 We'd rather take the cash and be patient. And it's just the hardest thing 312 00:20:41,079 --> 00:20:44,160 in the market like this, right And one of our number one objectives is 313 00:20:44,240 --> 00:20:48,200 return of the money. Return on the money is important. But one of 314 00:20:48,200 --> 00:20:52,119 the things that we look at his return of the money. Yeah, in 315 00:20:52,160 --> 00:20:56,319 the perfect world, we would have no downside, just outside Well that's not 316 00:20:56,400 --> 00:21:00,880 realistic, but we like to keep the downside. We like to concentrate more 317 00:21:00,880 --> 00:21:06,079 on minimizing the downside than maximizing the upside. Could you have to do one 318 00:21:06,160 --> 00:21:08,200 or the other. Yeah, I mean that's why we've put the hedge on 319 00:21:08,240 --> 00:21:11,880 and we've had our headge on, which is I mean it's not the whole 320 00:21:11,880 --> 00:21:14,440 account, it's just five percent, ten percent of the account, but we've 321 00:21:14,440 --> 00:21:18,799 had the hedge on for the downside protection in case it does happen. We're 322 00:21:18,799 --> 00:21:21,240 playing the costious side and we've been. That's been our montra for the last 323 00:21:21,279 --> 00:21:26,119 few months. I think I said last week that I was nervous enough about 324 00:21:26,200 --> 00:21:29,160 the strength of the market that I wish we would have taken all of the 325 00:21:29,759 --> 00:21:32,319 heade off. So that must be a good sign. Well not yet. 326 00:21:33,400 --> 00:21:37,039 Yeah, but just like economists, you know, you predict the accession just 327 00:21:37,079 --> 00:21:38,880 two years too late. But we'd rather be on the coustious side for part 328 00:21:38,880 --> 00:21:42,759 of the portfolio, just to have that protection. Because also we are working 329 00:21:42,799 --> 00:21:48,519 with clients who are retirees who their accounts or their money they're not accumulating anymore, 330 00:21:48,039 --> 00:21:49,720 so they want to be able to sleep at nice So it's nice. 331 00:21:49,759 --> 00:21:52,799 They liked the idea of having a hedge on in case the markets do turn 332 00:21:52,839 --> 00:21:56,240 and you can't expect you don't expect it. Yeah, and that's why you 333 00:21:56,279 --> 00:21:57,880 have a little bit of growth, you have a little bit in value in 334 00:21:57,920 --> 00:22:03,240 the dividend pain stile. We've got a model that we put together. Yeah, 335 00:22:03,279 --> 00:22:04,720 speaking of the model, that's also why we're in the model. We 336 00:22:04,759 --> 00:22:10,200 put together seventy tfs that cover the broad markets, and we put no more 337 00:22:10,200 --> 00:22:15,759 than roughly twenty five percent into an account with our model, typical account in 338 00:22:15,839 --> 00:22:18,119 the model. And the reason for that is because we don't know if the 339 00:22:18,160 --> 00:22:22,640 markets take off and run like they are right now. You don't you can't 340 00:22:22,680 --> 00:22:23,880 predict that, like we weren't predicting it, but all of a sudden it 341 00:22:25,079 --> 00:22:29,240 is taken off and running. At least our clients portfolios are invested in the 342 00:22:29,559 --> 00:22:33,319 broad market, so they are seeing some of those were participating exactly. Our 343 00:22:33,319 --> 00:22:37,839 accounts are growing nicely, and that model we rebalance the model. We don't 344 00:22:37,000 --> 00:22:40,880 ever really take it all out and put it all in. That model stays 345 00:22:40,920 --> 00:22:45,640 invested. That's just part of your portfolio. Right. The oil is up 346 00:22:45,640 --> 00:22:48,599 a dollar sixty on a week to seventy one eighty. Gold was up eight 347 00:22:48,599 --> 00:22:52,599 bucks last week to nineteen seventy. Again, that spread on the between the 348 00:22:53,519 --> 00:22:57,200 ten year and the two year widened a little bit, which is not very 349 00:22:57,200 --> 00:23:02,200 good if you're bullish. Three point eight percent as a ten year treasury, 350 00:23:03,000 --> 00:23:07,079 four point seven is a two year treasury, and I actually personally got five 351 00:23:07,119 --> 00:23:12,519 and a quarter on a one year treasury on Thursday of last week. Nice. 352 00:23:12,720 --> 00:23:17,519 Yeah, that's government guaranteed with no state income tax. Five and a 353 00:23:17,599 --> 00:23:22,960 quarter Bitcoin down for a fourth straight week. We saw the regional banks continue 354 00:23:23,000 --> 00:23:26,799 to rebound. A lot of that has to do with the strength of the 355 00:23:26,839 --> 00:23:29,440 market, but a lot of it also has to do with there hasn't been 356 00:23:29,480 --> 00:23:33,400 another shooter drop yelling. Yeah, there's been nobody else. Yeah, I 357 00:23:33,440 --> 00:23:38,440 mean and the and there. People think that it's over because of the the 358 00:23:38,559 --> 00:23:42,759 FEDS or the government stepped in quick enough with First Republic that they think it's 359 00:23:42,839 --> 00:23:45,599 they caught it and they're not going to let another two thousand and eight happen. 360 00:23:45,880 --> 00:23:49,319 And if it's all about it is all about consumer confidence. The amount 361 00:23:49,359 --> 00:23:53,640 of money we have behind the account is not enough to pay everybody, every 362 00:23:53,640 --> 00:23:59,200 bank account in the country. So it becomes a situation of consumer confidence. 363 00:23:59,200 --> 00:24:03,960 And right now the consumer confidence in the regional banks has stabilized. I don't 364 00:24:03,960 --> 00:24:07,359 want to see it's growing, because it's not growing, but it has stabilized. 365 00:24:07,400 --> 00:24:11,160 I don't hear anybody talking about it anymore. I'm not getting any more 366 00:24:11,160 --> 00:24:15,279 calls about insurance. What's what are my accounting shirt? I'm just not hearing 367 00:24:15,319 --> 00:24:19,680 that anywhere. Yeah, and we're gonna have a brief break here. We'll 368 00:24:19,680 --> 00:24:23,480 be back with Melissa Hand from All American Lending talking a little bit about what's 369 00:24:23,480 --> 00:24:30,920 going on in the mortgage market. Thanks for listening, say it's all good 370 00:24:30,920 --> 00:24:34,400 morning again. This is the Father's Day edition of the Money Matters Show. 371 00:24:34,440 --> 00:24:40,319 I'm Dave Sherwood. I'm here with Dylan Greenberg and two empty chairs except one's 372 00:24:40,319 --> 00:24:42,240 full now actually, actually I only have one empty chair. Yeah. We 373 00:24:42,319 --> 00:24:45,440 got Melissa Hand from All American Lending, and yere, how you doing, 374 00:24:45,480 --> 00:24:48,160 Melissa. I'm doing well, thank you. Ol. Yeah, So we 375 00:24:48,240 --> 00:24:52,640 bring her on to talk about the mortgage industry and the lending and everything that's 376 00:24:52,680 --> 00:24:55,880 been going on in that industry. Have you seen anything different? I know, 377 00:24:56,000 --> 00:24:59,440 rates they seem to kind of he's off last back a little bit. 378 00:24:59,680 --> 00:25:03,359 Yeah. Um, the feens didn't raise it this month, but you know, 379 00:25:03,400 --> 00:25:07,000 we'll see they're thinking maybe they'll raise it a couple more times because inflation 380 00:25:07,200 --> 00:25:12,680 is, you know, still very high. However, Um, they did 381 00:25:14,119 --> 00:25:21,920 raise the loan limits to seven for a conforming loan to seven twenty six, 382 00:25:22,079 --> 00:25:26,480 seven hundred and twenty six thousand, and an FHA to four hundred and seventy 383 00:25:26,480 --> 00:25:30,680 two thousand. So I explain conforming loan. I know what it is because 384 00:25:30,680 --> 00:25:33,720 they used to do market. Um, it's a loan where you can just 385 00:25:33,799 --> 00:25:40,640 put five percent down. And if you go into a jumbo loan, which 386 00:25:40,680 --> 00:25:45,799 is a loan amount above the six seventy two or seven twenty six, excuse 387 00:25:45,839 --> 00:25:49,640 me, I got the numbers mixed up. Um, you go into jumbo 388 00:25:49,680 --> 00:25:55,960 pricing and those you have to put ten percent down minimum, and their pricing 389 00:25:56,119 --> 00:26:00,799 is a lot higher. Conforming loans are are essentially the way to gain you 390 00:26:00,799 --> 00:26:03,039 can get right. The VA loan is by far the best you can get 391 00:26:03,079 --> 00:26:07,599 and by the way, they deserve it absolutely so you couldn't agree more, 392 00:26:07,759 --> 00:26:11,039 um, you know, and they're also on they have a program called home 393 00:26:11,039 --> 00:26:15,920 Ready for first time homebuyers. Anybody who has not owned a home in the 394 00:26:15,000 --> 00:26:21,920 last three years can qualify for the program. And they're raising the income limits 395 00:26:22,000 --> 00:26:26,279 on that, which is really nice because if you fall you know right now 396 00:26:26,319 --> 00:26:30,079 that income woman is like sixty two thousand or something like that. If you 397 00:26:30,160 --> 00:26:33,440 make more than that, you don't qualify for the program. So they're raising 398 00:26:33,440 --> 00:26:37,720 it so more people can can buy homes. And that's only three percent down, 399 00:26:38,079 --> 00:26:41,200 and plus the mortgage insurance is a lot less. Now this is for 400 00:26:41,319 --> 00:26:45,920 who, yeah I heard it, but time home buyers that have not owned 401 00:26:45,960 --> 00:26:51,599 a home for the past three years. So but if you if you're a 402 00:26:51,599 --> 00:26:56,160 first time HomeBuyer, you technically never owned a home. Well, they also 403 00:26:56,200 --> 00:27:00,559 include people who have not owned a home within that's trying to clarify. If 404 00:27:00,599 --> 00:27:03,079 you have not owned a home, if you've been renting for the last three 405 00:27:03,160 --> 00:27:07,319 years, correct, then you qualify for that program if your income limits or 406 00:27:07,400 --> 00:27:11,640 your income there's three down three percent down. Is there mortgage insurance, there's 407 00:27:11,680 --> 00:27:15,480 there's mortgage insurance, but it's less than conforming and there's also the rates are 408 00:27:15,559 --> 00:27:18,680 less than confu Talk a little bit about mortgage insurance for people that don't know 409 00:27:18,720 --> 00:27:22,599 what that mortgage insurance. You're gonna have mortgage insurance anytime you put less than 410 00:27:22,640 --> 00:27:26,160 twenty percent down. That's just fanning. And that's not that's not insurance on 411 00:27:26,200 --> 00:27:30,079 the house. No, that's not homeowners insurance. It's mortgage insurance. It's 412 00:27:30,079 --> 00:27:38,920 really an insurance policy. You're paying out of your out of your check, 413 00:27:40,359 --> 00:27:45,920 you know, on your account for that that basically pays for the lenders insurance 414 00:27:45,960 --> 00:27:49,480 to insure your loan so that if you ever foreclose or anything like that, 415 00:27:49,559 --> 00:27:52,839 they get the benefits of the insurance policy. So the purpose of that of 416 00:27:52,880 --> 00:27:59,240 the mortgage insurance is essentially insurance against default. Correct, and it's an insurance 417 00:27:59,319 --> 00:28:03,599 premium of pain, and the beneficiary is the lender. Lender cracks. But 418 00:28:03,759 --> 00:28:06,920 doesn't the mortgage insurance go towards the twenty percent down? Like once you hit 419 00:28:06,960 --> 00:28:11,079 twenty percent, you're done with mortgage insurance. And say it's one hundred dollars 420 00:28:11,079 --> 00:28:14,480 a month, Each one hundred dollars goes towards you gotta wait at least two 421 00:28:14,519 --> 00:28:18,359 years. And if you're you know, if your house goes up, you 422 00:28:18,400 --> 00:28:22,720 know, twenty percent or fifteen percent or whatever it is in two years or 423 00:28:22,920 --> 00:28:26,920 less than two years, you have to refinance the whole thing in order to 424 00:28:27,599 --> 00:28:30,079 get it taken off. It's a good point. So you've got to pay 425 00:28:30,079 --> 00:28:33,519 that mortgage insurance for at least Isn't it funny that we're even talking about this, 426 00:28:34,000 --> 00:28:38,680 well, that prices could go up. The average appreciation in real estate 427 00:28:38,720 --> 00:28:42,119 historically it's three percent per Yeah, that we're talking about if it goes up 428 00:28:42,200 --> 00:28:47,799 more than twenty percent in two years? Are you serious? It's been a 429 00:28:47,839 --> 00:28:51,119 crazy market the last few years. It's a California kind of thing, right, 430 00:28:52,000 --> 00:28:53,720 Yeah, I think apparently it has been. Though, I'm just absolutely 431 00:28:53,720 --> 00:28:56,279 shocked and less see you see it more than I do. I'm absolutely shocked 432 00:28:56,279 --> 00:29:00,079 at prices that I see when how's this cell? Well, this is the 433 00:29:00,119 --> 00:29:07,799 problem they've uh Fannie Mae and Freddie Mack and at the HUD has UH deemed 434 00:29:08,079 --> 00:29:17,400 Arizona a declining state. So yeah, and our supply system is next to 435 00:29:17,519 --> 00:29:22,799 nothing, um, especially here in Tucson and Phoenie, really anywhere. When 436 00:29:22,799 --> 00:29:27,119 they say a declining stagium means they think that the house prices are declining, 437 00:29:27,839 --> 00:29:33,680 and so we get hits hits for that. I feel like I have seen, 438 00:29:33,799 --> 00:29:36,400 like you on Zilla, you see price cuts more often than you did 439 00:29:36,640 --> 00:29:41,359 a year and a half ago. Well, that's because they're asking stupid amounts. 440 00:29:41,599 --> 00:29:45,720 So maybe that's what they're looking at. I had one that didn't the 441 00:29:45,759 --> 00:29:51,000 price the other day, and they're asking stupid amounts, and you know, 442 00:29:51,119 --> 00:29:56,039 unfortunately they went out and remodeled the whole thing and put way too much money 443 00:29:56,160 --> 00:30:00,880 into this house. And just like putting us pool in, when you put 444 00:30:00,880 --> 00:30:03,000 a swimming pool in your house, it costs eighty thousand dollars, it's only 445 00:30:03,000 --> 00:30:07,920 going to give you a value about fifteen to twenty thousand extra. So people 446 00:30:07,920 --> 00:30:10,519 don't understand that. You know, you go and remodel your whole house, 447 00:30:10,559 --> 00:30:14,119 it's not going to give you ninety thousand that you put in remodeling it. 448 00:30:14,119 --> 00:30:17,200 It's just not I heard that. I've heard that the best place to put 449 00:30:17,240 --> 00:30:22,440 remodel money is the master bath and the kitchen. The kitchen and the bathrooms 450 00:30:22,559 --> 00:30:27,720 are the best place to remodel. Yeah, that is I used to in 451 00:30:27,759 --> 00:30:34,400 your opinion, does solar come close to enhancing the value of the house anywhere 452 00:30:34,400 --> 00:30:40,599 near would it cost? No? Okay, so that and that's kind of 453 00:30:40,599 --> 00:30:42,960 because that's kind of what I've been seeing a Dylan. You bought your house. 454 00:30:44,119 --> 00:30:45,519 I bought my house that solar on it. All I did. You 455 00:30:45,519 --> 00:30:48,799 could have cared. It's cool. You could have cared, though, I 456 00:30:48,799 --> 00:30:52,119 mean I was still about the house. No, but it wouldn't It didn't 457 00:30:52,119 --> 00:30:52,880 matter. You said, all, I gotta buy that house because they got 458 00:30:52,920 --> 00:30:55,960 solar. Yeah, exactly. No, if it didn't have a solar, 459 00:30:56,000 --> 00:30:57,400 I was still gonna buy it. Yeah. I didn't enter your thought process. 460 00:30:57,680 --> 00:31:00,480 No, they were just telling me about it. And then I mean, 461 00:31:00,480 --> 00:31:03,200 now it's cool. I see my electric bills twenty five dollars a month. 462 00:31:03,319 --> 00:31:06,200 Yeah, well, you're young enough for it to be able to pay 463 00:31:06,240 --> 00:31:07,680 for itself. Not. Yeah, So it's like it's a lease. Good 464 00:31:07,680 --> 00:31:11,079 point, it's a least I have like nine more years on I have to 465 00:31:11,079 --> 00:31:12,839 pay, So I have to pay that monthly payment and then my electric bill, 466 00:31:14,279 --> 00:31:17,279 so it comes out to probably around the same that I would have if 467 00:31:17,279 --> 00:31:21,079 I didn't have solar. It's just electricity, probably about the same price. 468 00:31:21,279 --> 00:31:25,640 But you're again young enough for it to be the thing. I don't know 469 00:31:25,680 --> 00:31:27,720 though, is at least it's like they come take it in nine years or 470 00:31:27,799 --> 00:31:30,400 is it just mine after nine years after the lease is up. That's something 471 00:31:30,440 --> 00:31:34,920 he probably needs to probably because a lot of people buy them. Yeah, 472 00:31:34,920 --> 00:31:37,599 I'm not sure if it's like least a buyer. I gotta I think you're 473 00:31:37,640 --> 00:31:41,160 paying for it. I could. They wouldn't come and take it off and 474 00:31:41,279 --> 00:31:44,319 go away with it, would they couldn't tell you? Yeah, I don't 475 00:31:44,319 --> 00:31:47,200 know if you guys knew, you know, I know, because they're a 476 00:31:47,279 --> 00:31:49,519 lot of people will just buy them out right, Okay. I didn't realize 477 00:31:49,519 --> 00:31:52,680 you could just random I mean that doesn't make sense. Why would you do 478 00:31:52,720 --> 00:31:56,759 that when you're paying two fees, are paying electric and you're payments. Yeah, 479 00:31:56,799 --> 00:31:59,240 because I mean, so it comes out to about one hundred bucks a 480 00:31:59,279 --> 00:32:04,279 month for electricity and my solar monthly payment. So that's probably what my electricity 481 00:32:04,279 --> 00:32:06,640 would be if I didn't have solar. So that I think, I think 482 00:32:06,680 --> 00:32:08,640 it maybe it would make sense to buy it like that, I'm buying it. 483 00:32:09,039 --> 00:32:12,279 I don't know. I have to double check that. Yeah, sure, 484 00:32:12,559 --> 00:32:14,960 I don't know. If you I don't know if you knew I did 485 00:32:15,000 --> 00:32:17,519 not. We've discovered over the last few weeks that Dylan knows precious little about 486 00:32:17,559 --> 00:32:22,519 his solar system. Well you know what solar system. Yeah, I'm technically 487 00:32:22,599 --> 00:32:25,880 challenged, so I'm further back than he is. Like I said, I 488 00:32:25,880 --> 00:32:30,920 didn't buy the house because oh no, I'm too old. Well, you 489 00:32:30,960 --> 00:32:32,720 know it never benefit me. No, you bring it up. I've got 490 00:32:32,839 --> 00:32:37,839 my next door neighbors are in the early eighties and they're having a solar installed, 491 00:32:37,839 --> 00:32:40,240 and I'm thinking that's pretty optimistic. Maybe they're leaving it for their kids. 492 00:32:40,799 --> 00:32:44,839 I don't know. But if it doesn't enhance the value of your house 493 00:32:45,599 --> 00:32:49,200 and you're never gonna get your money back, what's the point. Well, 494 00:32:49,319 --> 00:32:52,640 there's a lot of good salesman. You're absolutely right, that is correct, 495 00:32:52,279 --> 00:32:58,279 does absolutely correct good salesman. We had to got a listener Ron Lenzon last 496 00:32:58,279 --> 00:33:02,319 week talking about solar and we talked about why people buy systems that are way 497 00:33:02,400 --> 00:33:07,400 bigger than what they need, and he explained that there's some very good salesman 498 00:33:07,440 --> 00:33:10,240 out there. Yes, on top of that, they can help their neighbors 499 00:33:10,240 --> 00:33:15,119 as well. Their neighbors can fish off of it, get the whole neighborhood 500 00:33:15,160 --> 00:33:20,279 going off one group of panels. So what's the conforming rate? What's the 501 00:33:20,440 --> 00:33:25,160 what's if you're twenty percent down in really good a credit? UM? Probably 502 00:33:25,200 --> 00:33:31,480 six six point five. Okay. It's interesting that that the maximum conforming loan 503 00:33:31,759 --> 00:33:37,599 level is now seven twenty six correct. I refinanced my house seven twenty six 504 00:33:37,680 --> 00:33:39,799 two, I think, to be exact, crazy, I refinanced my house 505 00:33:39,839 --> 00:33:44,960 when rates got down to nothing UM about four or five years ago with you 506 00:33:45,000 --> 00:33:47,640 guys, and I think the maximum conforming loan level then, Actually no, 507 00:33:47,720 --> 00:33:51,799 it was it was when I bought the house I'm in now, which was 508 00:33:51,960 --> 00:33:55,160 almost eleven years ago. The maximum conforming loan level eleven years ago is four 509 00:33:55,279 --> 00:34:00,200 twenty Yeah. When we started in the yearly that I needs, it was 510 00:34:00,319 --> 00:34:02,759 to twelve yeah, I think. But I mean eleven years have gone from 511 00:34:02,759 --> 00:34:08,840 four twenty seven six, and is that that's where that's where pricing is going 512 00:34:08,920 --> 00:34:13,960 for houses? I mean, you know, people couldn't afford them, and 513 00:34:14,159 --> 00:34:20,519 they still can't afford them. I mean I I just closed on a a 514 00:34:20,599 --> 00:34:29,800 double wide UM and eight five seven one three area code or ZIP code UM 515 00:34:30,079 --> 00:34:34,760 two hundred and four thousand for a double wide mobile home. Correct, it 516 00:34:34,840 --> 00:34:40,320 wasn't a modular it was actual mobile home home two hundred and four thousand, 517 00:34:40,320 --> 00:34:44,760 and I mean, it's it's ridiculous. I mean it was an eye. 518 00:34:44,960 --> 00:34:49,000 I mean that they've taken the previous owners really taken care of it. Man. 519 00:34:49,280 --> 00:34:54,559 But you know, I don't know, it's it's it's something that uh 520 00:34:54,599 --> 00:35:00,119 it opened Drysda mean, I was looking at home down in the Sam Hughes 521 00:35:00,159 --> 00:35:05,239 area probably three or four years ago, in three fifty, four fifty another 522 00:35:05,400 --> 00:35:08,480 seven and eight. Yeah, and that's a hot area. It is a 523 00:35:08,519 --> 00:35:14,880 hot area, and my area is hot. The house in my historical areas 524 00:35:14,960 --> 00:35:19,440 and my street don't sell very quickly, you know, because there's no land 525 00:35:19,440 --> 00:35:22,159 to build on anymore. Yeah, And you know, but the thing is 526 00:35:22,159 --> 00:35:28,519 is I'll never sell ever. Yeah, with a mortgage rate you've got. 527 00:35:29,039 --> 00:35:32,679 We do have a lot of clients that have dealt with Melissia and her husband 528 00:35:32,760 --> 00:35:37,800 Dave. They own All American lending. This next doctor office. And if 529 00:35:37,840 --> 00:35:42,119 you're not using All American lending and you're paying too much, it's that simple. 530 00:35:42,400 --> 00:35:45,800 Well, you know, we we are the house. We don't split, 531 00:35:45,679 --> 00:35:50,960 you know, with three hundred other employees. We love you. Thanks 532 00:35:50,960 --> 00:35:53,519 for coming on All American Lending. Give us a call five two zero five 533 00:35:53,599 --> 00:35:57,400 four four four nine on nine. We'll put you in touch. Thank you 534 00:35:57,519 --> 00:36:05,320 say it's all welcome back. You're listening to the Money Matter Show. We're 535 00:36:05,320 --> 00:36:07,239 at the bottom of the hour, and I want to thank Melissa Hand for 536 00:36:07,280 --> 00:36:12,199 coming on from All American Lending. They're great, they do great, they 537 00:36:12,239 --> 00:36:15,039 get great race because like she was saying right at the end, they they're 538 00:36:15,079 --> 00:36:17,719 the house. They can do pretty much what they want. Yeah, when 539 00:36:19,159 --> 00:36:22,199 they out of the house meeting that they own the company. They don't have 540 00:36:22,239 --> 00:36:24,280 to answer to anybody. They're not trying to sell the mortgage to somebody else 541 00:36:24,480 --> 00:36:29,000 exactly. They are as flexible as as you can get. And if you 542 00:36:29,239 --> 00:36:32,360 are having a difficult time getting a mortgage for one reason or another, they 543 00:36:32,360 --> 00:36:37,440 are outstanding at making that happen. They are yep, and they're located at 544 00:36:37,480 --> 00:36:40,159 our building, forty five eleven North Campbell Avenue. So if you ever want 545 00:36:40,199 --> 00:36:42,639 to give them a call, just give us a call and we can get 546 00:36:42,639 --> 00:36:44,920 you in touch with them. For the week. Though, like we were 547 00:36:44,920 --> 00:36:47,599 talking about just during our break, is just a great week. The Dow 548 00:36:47,679 --> 00:36:51,280 was up one point three percent. That's and P five hundred was up two 549 00:36:51,280 --> 00:36:54,440 point six percent, the NAZAC was up three point two percent. Russell two 550 00:36:54,440 --> 00:36:58,000 thousand, which is a small cap, kind of lagged. It was up 551 00:36:58,039 --> 00:37:00,280 five point five percent, which is I've actually been doing a lot better than 552 00:37:00,280 --> 00:37:05,159 the other ones recently. And then the equal weighted S and P five hundred 553 00:37:05,199 --> 00:37:07,679 was up two point five percent. So overall the market just did well. 554 00:37:08,039 --> 00:37:13,360 Yeah, they like the idea of the FED rates pausing, and it's the 555 00:37:13,480 --> 00:37:15,440 kind of the outlook of it in the sense that, like you're saying, 556 00:37:15,440 --> 00:37:17,840 all the news is good news, they paused it. We're looking okay, 557 00:37:17,880 --> 00:37:22,039 maybe this is the start of something of the cuts soon rather than later. 558 00:37:22,360 --> 00:37:25,360 It's been about a year and a half since I felt this fear of missing 559 00:37:25,400 --> 00:37:30,320 out, because that's what you're feeling. Well, I've got cash. I 560 00:37:30,320 --> 00:37:31,719 need to I need to put that cash to work. I got I gotta 561 00:37:31,800 --> 00:37:36,800 quit being so conservative, the types of things that you go home at night 562 00:37:36,800 --> 00:37:38,840 with calluses on your hands from pulling in the reins. Right, yeah, 563 00:37:38,880 --> 00:37:44,119 exactly, because we know this doesn't last forever. Yep, it doesn't. 564 00:37:44,159 --> 00:37:46,280 And you know somebody that just came into a lot of cash. Michael Jordan. 565 00:37:46,360 --> 00:37:50,000 You see, he's sold the hornets, sold the hornets too. He 566 00:37:50,079 --> 00:37:52,119 sold the hornets to the guy who owns one of the guys. There's two 567 00:37:52,159 --> 00:37:57,039 guys. One is a partner at this big private equity firm in New York 568 00:37:57,280 --> 00:38:01,199 and another guy is I forget it for his name, but he owned Melvin 569 00:38:01,280 --> 00:38:06,440 Capital, the one that got killed on the game stopped short when they got 570 00:38:06,440 --> 00:38:07,800 the short squeeze. Yeah, they were short and they got killed. They 571 00:38:07,840 --> 00:38:10,639 lost roughly fifty six percent. They had to close. He had to get 572 00:38:10,719 --> 00:38:15,320 money and fused from Ken Griffin and Citadel Capital and all of them to stay 573 00:38:15,320 --> 00:38:19,440 afloat. But he's still worth four and a million dollars and he's buying a 574 00:38:19,519 --> 00:38:22,000 steak in the Hornets. It's amazing. What did Michael Jordan paid for them? 575 00:38:22,079 --> 00:38:25,800 He paid two hundred and seventy five million dollars in twenty two, seventy 576 00:38:25,840 --> 00:38:30,039 five million more because he had a minority steak before then, and then he 577 00:38:30,039 --> 00:38:31,760 had to pay two hundred seventy five more million to get the majority steak. 578 00:38:32,000 --> 00:38:36,840 So what's just cost basis roughly three hundred seventy five million, I think is 579 00:38:36,880 --> 00:38:39,360 what they said they sold it for I saw he sold it for three billion 580 00:38:39,360 --> 00:38:44,400 dollars. But it's interesting because four values the Hornets as a whole as one 581 00:38:44,440 --> 00:38:46,000 point seven billion dollars and he's not the sole owner. Yeah, I don't 582 00:38:46,039 --> 00:38:51,280 think three would three seems a little high. That's what the articles. Yeah, 583 00:38:51,400 --> 00:38:53,639 it was on CNBC and they updated the article. Well remember back when 584 00:38:53,679 --> 00:38:59,960 when the Golden State Warriors was it we're on the market and different people were 585 00:39:00,119 --> 00:39:04,280 bidden back and forth, not Golden Set Warriors, La Clippers, all the 586 00:39:04,280 --> 00:39:07,760 Clippers. Yeah, Bamberne he got to go one point nine billion, then 587 00:39:07,800 --> 00:39:10,599 I get goes too, and he goes two point one billion, and Steve 588 00:39:10,599 --> 00:39:15,559 Bomber, one of the founders of Microsoft, coming in to go three yeah, 589 00:39:15,679 --> 00:39:17,440 three billion, and that was the end of it. Yeah, well, 590 00:39:17,440 --> 00:39:22,800 I mean, yeah, exactly. You got the Hornets are their valuation 591 00:39:22,920 --> 00:39:25,280 according to Fort Franks, twenty seventh out of thirty teams in the NBA. 592 00:39:25,400 --> 00:39:29,039 Yeah, so I don't know how they got the three billion. I wonder 593 00:39:29,079 --> 00:39:30,639 if that number will change, because it's kind of interesting how he got almost 594 00:39:30,719 --> 00:39:35,320 double what their valued at. Amazing, but he still comes into a lot 595 00:39:35,360 --> 00:39:37,599 of money, and now he still has a minority steak, but he doesn't 596 00:39:37,599 --> 00:39:40,280 want to be the majority anymore. Next week's calendar kind of quiet, Dylan, 597 00:39:40,519 --> 00:39:45,159 No CPI, no FAD, no corporate earnings. Although Wednesday is the 598 00:39:45,360 --> 00:39:50,320 longest day of the year, yep. And for the people that struggle with 599 00:39:50,400 --> 00:39:52,079 the summer shore, I always go, you know, starting Thursday, the 600 00:39:52,079 --> 00:39:55,239 sun's going to be moving south. It's gonna be cool and off right. 601 00:39:55,519 --> 00:39:58,840 Well, it takes a little while for that to happen, but mentally, 602 00:39:59,000 --> 00:40:01,519 mentally, if you're thinking, well, that's the peak, Sun's moving south 603 00:40:01,559 --> 00:40:06,679 again. But isn't it ironic that we live in a place where the longest 604 00:40:06,760 --> 00:40:10,920 day of the year is often very uncomfortable? Everything about that? No, 605 00:40:12,480 --> 00:40:15,880 and uh, how the longest day of the year is could potentially be the 606 00:40:15,920 --> 00:40:17,400 hottest day of the year. Probably right now it's gonna be the hottest par 607 00:40:17,400 --> 00:40:20,079 of the sun. Did you want the shortest day of the year to be 608 00:40:20,079 --> 00:40:23,000 the hottest day? Making the longest day because the sun's gonna be up? 609 00:40:23,000 --> 00:40:28,800 But yeah, no, we are we finally hit summer. Yeah, we 610 00:40:28,880 --> 00:40:31,800 just fent whistling through the graveyard, haven't we May no one hundred degree days 611 00:40:31,840 --> 00:40:35,559 the first half of June, just like you know, ninety five, there 612 00:40:35,639 --> 00:40:37,719 was an eighty nine in there, and I'm like, what's going on here? 613 00:40:37,920 --> 00:40:40,519 And now we're in the and I thought, okay, now we're back 614 00:40:40,519 --> 00:40:43,960 to the one h two, one oh five, one oh eight. Yeah, 615 00:40:44,079 --> 00:40:46,159 okay, it's I'll be I'll be in Illinois for the longest day of 616 00:40:46,159 --> 00:40:50,119 the year and in the Midwest, that sun does not go down for You're 617 00:40:50,119 --> 00:40:52,559 going to Illinois next weekend, right on Wednesday. So next weekend it's just 618 00:40:52,639 --> 00:40:55,719 me and Todd. Yep, there will be. So it's just the one 619 00:40:55,760 --> 00:41:00,119 thing that's constant about Greenberg Financial is me. It isn't there always you are 620 00:41:00,159 --> 00:41:05,400 always here, as it turns out, California in here. That's it. 621 00:41:06,000 --> 00:41:09,719 China trying reported this is kind of interesting, trying to report a global exports 622 00:41:10,039 --> 00:41:15,880 drop seven point five percent in May, and that's because US companies are moving 623 00:41:15,920 --> 00:41:19,159 away. They're going to Vietnam, they're going to India, they're going to 624 00:41:19,239 --> 00:41:23,400 other countries. And isn't that really the best weapon we have against China? 625 00:41:23,480 --> 00:41:27,400 Yeah, because they need they need us way more than we need them. 626 00:41:27,639 --> 00:41:30,039 Yeah, And that's why they're trying to get this bricks going with their own 627 00:41:30,039 --> 00:41:34,239 currency, so they can beat the US dollar because they've figured that's the only 628 00:41:34,239 --> 00:41:36,679 way they can try and take us down. Okay, I'm gonna talk about 629 00:41:36,719 --> 00:41:39,199 that because that's not even remotely going to happen. Yeah, I just yeah, 630 00:41:39,199 --> 00:41:43,440 that's their idea with it, and they're getting more countries to join up 631 00:41:43,480 --> 00:41:45,039 with They tried to when they tried to get them to do the wand and 632 00:41:45,039 --> 00:41:47,840 then none of them wanted the wand so they had to go back to what 633 00:41:47,920 --> 00:41:51,360 they did was they were doing them in wands, and then they converted them 634 00:41:51,360 --> 00:41:53,920 immediately to dollars. It's like, wow, now they're trying to create their 635 00:41:53,920 --> 00:41:57,119 own currency. I don't know where they stand with that. But also those 636 00:41:57,159 --> 00:41:59,440 countries that are part of it, like Brazil and all, they just want 637 00:41:59,440 --> 00:42:02,280 to trade in their own currency. So I don't think China is. It's 638 00:42:02,280 --> 00:42:05,559 not working out for them like they thought it would. Well, we can 639 00:42:05,559 --> 00:42:07,400 actually talk about that right now if you want to have a We have a 640 00:42:07,400 --> 00:42:10,599 copy of an article from Barons March thirty first, probably one of the most 641 00:42:10,639 --> 00:42:15,519 sensible articles I've ever seen regarding that because you hear so much talk about it, 642 00:42:15,760 --> 00:42:19,400 and the reason you hear talk about the dollar being replaced by other currencies. 643 00:42:19,880 --> 00:42:23,760 Is because the gold dealers want you to fear the dollar and the bitcoin 644 00:42:24,000 --> 00:42:30,320 dealers want you to fear the dollar. So everything that they do is promoting 645 00:42:30,360 --> 00:42:34,039 the demise of the US dollar, when in fact, the US dollar is 646 00:42:34,079 --> 00:42:37,519 not demising in any way, shape or form. There are efforts to undermine 647 00:42:37,599 --> 00:42:42,199 the dollar. That's one of one of China's things. But here's an interesting 648 00:42:42,239 --> 00:42:46,159 thing. China has a Belt and Road initiative. Is the government program called 649 00:42:46,320 --> 00:42:53,679 the Belt and Road initiative. China made those loans from the Belt and Road 650 00:42:53,760 --> 00:42:59,880 initiative in China, right, They made those loans in one but recipients quickly 651 00:43:00,159 --> 00:43:07,000 swamps them into dollars. So now China banks are financing these belt road initiatives 652 00:43:07,280 --> 00:43:09,679 with US dollars. Yeah, in China. So I mean, that's how 653 00:43:09,679 --> 00:43:15,679 well it's working out for him. The one other thing is the dollar. 654 00:43:15,239 --> 00:43:17,920 And if you like a copy of this article, we certainly can sent it 655 00:43:17,960 --> 00:43:21,800 to you. It's out of Barons from March thirty first, if you want 656 00:43:21,800 --> 00:43:24,760 to go online and google it. Here's the I think the salient point Dylan 657 00:43:24,840 --> 00:43:30,480 from this whole thing. The dollar is on one side or the other of 658 00:43:30,679 --> 00:43:36,519 eighty eight percent of all currency trades in the world, eighty eight percent in 659 00:43:36,639 --> 00:43:42,599 nineteen eighty nine. That was ninety in nineteen eighty nine, So thirty four 660 00:43:42,719 --> 00:43:46,559 years ago, it was roughly where it is right now. So stop talking 661 00:43:46,599 --> 00:43:50,519 about the demise of the US dollar. Quit worrying about it. That's the 662 00:43:50,599 --> 00:43:54,320 media trying to fearmongerate. It's just fearmongerates going on in course thirty six years. 663 00:43:54,400 --> 00:43:58,400 Well, and people that demand, people that benefit from the dollar, 664 00:43:58,760 --> 00:44:02,639 of people doubting the dollar. The dollars just recently hit a ten year high 665 00:44:04,119 --> 00:44:08,880 in value. That's not something that's being sold. Yeah, exactly right, 666 00:44:09,280 --> 00:44:14,679 So just just relax about this and understand where when you read articles, look 667 00:44:14,760 --> 00:44:17,159 and see who wrote them, and most of the time it's from people trying 668 00:44:17,199 --> 00:44:21,079 to sell you gold, are trying to sell you a bitcoin. Yeah, 669 00:44:21,119 --> 00:44:23,360 we see those gold commercials coming up a lot lately, and but we have 670 00:44:23,400 --> 00:44:27,960 a lot more clients asking about gold because they're talking about fear of recession and 671 00:44:28,000 --> 00:44:30,159 you got to buy gold now or like then why are they selling gold because 672 00:44:30,199 --> 00:44:34,400 they want their commission on it. Well, and you remember gold is priced 673 00:44:34,440 --> 00:44:40,400 in dollars. Dollars tend to decline When interest rates decline, gold goes inversely 674 00:44:40,679 --> 00:44:46,960 to dollars. So if interest if gold, I'm sorry, gold is priced 675 00:44:47,039 --> 00:44:50,360 in dollars, So if the dollar goes up, gold must go down. 676 00:44:50,960 --> 00:44:52,800 Right, if the dollar goes down, gold must go up. So it's 677 00:44:52,840 --> 00:44:58,960 not our great inflation heade because during inflation you have rising interest rates, which 678 00:44:58,960 --> 00:45:05,480 makes gold go down. Yeah, exactly. It's also I mean, someone's 679 00:45:05,480 --> 00:45:07,320 got to find value in it. If you can't. Also, you can't 680 00:45:07,320 --> 00:45:10,159 go to Like people are wanting to give gold so they can hold it like 681 00:45:10,159 --> 00:45:13,840 a bricket gold. They feel safer with it, They feel like they have 682 00:45:14,199 --> 00:45:16,119 their value. But then if you have no more dollars and you're using gold, 683 00:45:16,440 --> 00:45:19,000 how are you gonna go to the grocery store? How are you going 684 00:45:19,079 --> 00:45:21,159 to go do this? How you're gonna pay your mortgage? You can't pay 685 00:45:21,159 --> 00:45:23,480 it with gold. So that's the issue you run into. Two people now 686 00:45:23,480 --> 00:45:28,519 are just watching these commercials and getting scared, so they're thinking they have to 687 00:45:28,519 --> 00:45:30,760 get a safe and fill it with gold. Do you ever wonder if gold 688 00:45:30,880 --> 00:45:35,760 is such a spectacular investment, why are you selling me yours? That was 689 00:45:35,800 --> 00:45:37,360 what I was saying. Yeah, I was kind of wondering why would you 690 00:45:37,400 --> 00:45:39,360 sell any of it? Why would you ever sell any of it? If 691 00:45:39,400 --> 00:45:43,400 it's gonna be the greatest thing ever, Why wouldn't you just keep it all? 692 00:45:43,440 --> 00:45:45,840 Wouldn't you make more money if you held it the way you're saying it? 693 00:45:45,079 --> 00:45:49,360 Yeah, I guess maybe the commissions are getting in the way of that. 694 00:45:49,480 --> 00:45:52,400 Huh man, I would think. So. Hey, I've got a 695 00:45:52,400 --> 00:45:55,559 friend that works in immigration. We hear about the border and people flooding across 696 00:45:55,599 --> 00:45:59,400 the border. You don't hear about it anymore. You don't hear you kind 697 00:45:59,440 --> 00:46:01,360 of like the rain, you know, the warning Ukraine is still going on, 698 00:46:01,480 --> 00:46:07,119 but you never hear about it because because people just got exhausted, there's 699 00:46:07,159 --> 00:46:09,679 nothing you can do about it. It's very frustrating. All it does is 700 00:46:09,760 --> 00:46:13,920 irritate the crap out of you. It's the same with a border. There 701 00:46:13,960 --> 00:46:16,320 isn't anything we can seemingly do about it. Nobody's in a position of power 702 00:46:16,360 --> 00:46:22,719 seems to care so and what can we possibly do about anyway? You think 703 00:46:22,760 --> 00:46:24,760 while the immigration things may be quieted down because I'm not hearing about it. 704 00:46:25,599 --> 00:46:30,000 This buddy of mine said, here in Tucson, we process fourteen hundred people 705 00:46:30,079 --> 00:46:36,599 a day, fourteen hundred people every day. Wow, that's half of our 706 00:46:36,760 --> 00:46:42,880 entire city's population every year. Think about that. That's insane. So in 707 00:46:42,920 --> 00:46:47,039 two years you've you've processed the entire city of Tucson illegally, and you know, 708 00:46:47,159 --> 00:46:52,159 then you release them and let them go and hope they show uppe the 709 00:46:52,199 --> 00:46:54,360 cell phone you gave them works when you go to call them to have them 710 00:46:54,360 --> 00:46:57,760 come in for their hearing. Five years from now, six years from now. 711 00:46:57,840 --> 00:47:01,360 Ye's not a high percentage mass. That's why mass. Anyway, it 712 00:47:01,519 --> 00:47:07,639 is still out there, it's still going on, and it's although I will 713 00:47:07,679 --> 00:47:10,480 say that it's it's we didn't get the surge we were expecting from the title 714 00:47:10,679 --> 00:47:14,599 forty two is it. Yeah. You kind of saw those videos of it 715 00:47:14,679 --> 00:47:19,119 just flooding, real quiet, it seemed like it's stabilized. We'll be back 716 00:47:19,119 --> 00:47:21,960 with the second hour of the Money Matter Show. We have Jonathon Sabelia. 717 00:47:22,840 --> 00:47:28,440 I've got some interesting things to talk about. Last week we had Ron Lan's 718 00:47:28,559 --> 00:47:32,840 talk about electric vehicles and it really got me to thinking about electric vehicles. 719 00:47:32,880 --> 00:47:36,679 And I've actually, over the last week or ten days, because I'm a 720 00:47:36,679 --> 00:47:42,440 curious guy, I've become almost an expert in the miss Tesla now in electric 721 00:47:42,519 --> 00:47:45,440 vehicles, and that's some interesting things and one of the reasons I became an 722 00:47:45,440 --> 00:47:47,679 expert. We'll talk to you right after this break. Thanks for listening. 723 00:47:52,039 --> 00:47:53,599 Welcome back. You're listened to the Money Matter Show. We are at the 724 00:47:53,679 --> 00:47:57,440 top of the second hour. Got a lot going on in the markets. 725 00:47:58,000 --> 00:48:00,360 A lot happened last week. He was a good week in the mark markets. 726 00:48:00,400 --> 00:48:01,920 With the Fed pausing the rates. It seem like investors like that. 727 00:48:02,039 --> 00:48:05,679 We're also coming up on the end of the quarter and we're just running to 728 00:48:05,760 --> 00:48:07,920 it. Markets for the week, the dall was up one point three percent, 729 00:48:07,960 --> 00:48:12,400 the SMP five hundred was up two point six percent, the Matz deck 730 00:48:12,519 --> 00:48:14,559 was up the most. It was up three point two percent, and the 731 00:48:14,599 --> 00:48:16,639 Russell two thousand, the small cap companies was up a half a percent. 732 00:48:17,119 --> 00:48:22,079 So overall, markets just across the board were up. And like we've been 733 00:48:22,119 --> 00:48:25,760 talking about, we're kind of not confused. We're just looking at it saying 734 00:48:25,840 --> 00:48:29,800 what's going on, and the idea of it just keeps running and we just 735 00:48:29,880 --> 00:48:31,159 we know it's a handful of companies. I've really been running it for the 736 00:48:31,239 --> 00:48:36,599 last few months, except this past week most companies were up, so it's 737 00:48:36,639 --> 00:48:39,039 a whole thing. But this idea of what we look at and what we 738 00:48:39,039 --> 00:48:42,920 were talking about in the first hour, why we stay invested with our model 739 00:48:42,920 --> 00:48:45,039 because you never know if the markets is going to run like this, But 740 00:48:45,360 --> 00:48:46,679 with it, you got to have a plan. And if you don't have 741 00:48:46,719 --> 00:48:50,159 your plan, then you're kind of just going by the way wind and you 742 00:48:50,199 --> 00:48:52,760 don't really know what's going on and you're just happy right now because the market's 743 00:48:52,840 --> 00:48:54,320 up. But what happens if the markets turned down? Do you have an 744 00:48:54,320 --> 00:48:58,519 idea of what's going on? Do you have a game plan to kind of 745 00:48:58,519 --> 00:49:00,039 try and mitigate your loss if you can't and hedge it? You are you 746 00:49:00,079 --> 00:49:04,199 doing that? If not, I suggest you give us a call because we 747 00:49:04,280 --> 00:49:07,039 have the tools to help you understand what the hedging is, what your plan 748 00:49:07,199 --> 00:49:09,679 is, how to do it. We have a great financial plan. We've 749 00:49:09,679 --> 00:49:14,079 been starting to use it this year. Clients are getting a lot of benefits 750 00:49:14,079 --> 00:49:16,239 from it. They're kind of peace of mind. We use the risk tolerance 751 00:49:16,320 --> 00:49:21,119 question there to get you an idea of what your risk level is, because 752 00:49:21,159 --> 00:49:23,840 are you somebody that can invest into these magnificent seven stocks and video? Apple 753 00:49:23,920 --> 00:49:27,960 can you or are you somebody that needs to go a little more conservative and 754 00:49:27,960 --> 00:49:30,320 maybe go the ETF way which gives you more diversification. Can you go more 755 00:49:30,360 --> 00:49:34,400 growth? Do you need more value? Do you need income? Those are 756 00:49:34,400 --> 00:49:37,360 all questions that we can help answer through the financial plan. It's helpful, 757 00:49:37,400 --> 00:49:40,360 it's free. We just want to be able to help you, guys have 758 00:49:40,440 --> 00:49:44,320 a peace of mind with your financial life as you're getting ready for retirement. 759 00:49:44,320 --> 00:49:46,199 If you're in retirement, we do the free second opinions. We just look 760 00:49:46,239 --> 00:49:50,840 at everything for the idea to help you out. You guys have been seeing 761 00:49:50,840 --> 00:49:53,440 you and TI have been seeling a lot of people and it is not just 762 00:49:53,639 --> 00:50:00,079 exclusively for new people. If you are an existing client of Greenberg Financial and 763 00:50:00,119 --> 00:50:01,599 you listen to the radio show and go, but I'd really like to do 764 00:50:01,639 --> 00:50:06,800 that, you are absolutely welcome to commend and we'll do that with you absolutely 765 00:50:07,000 --> 00:50:09,000 hundred percent part of your fee. YEA, we know not everybody's done it 766 00:50:09,000 --> 00:50:12,719 over the years, because this is a pretty new program that we just switched 767 00:50:12,760 --> 00:50:15,639 over to in twenty three, But we'd be happy to help you guys. 768 00:50:15,079 --> 00:50:19,119 Yeah, I don't want to do a scool doing a school existing clients, 769 00:50:19,159 --> 00:50:22,000 and most existing clients are pretty comfortable with Greenberg Financial, pretty comfortable of where 770 00:50:22,000 --> 00:50:24,960 we're going and have a pretty good idea what the plan is. If you 771 00:50:25,039 --> 00:50:28,400 don't want, if you're uncomfortable for any reason, give us a call. 772 00:50:28,559 --> 00:50:30,400 Yeah, we absolutely I do that. Things change over the years too. 773 00:50:30,480 --> 00:50:32,840 I mean, you might have been a client here for ten fifteen years, 774 00:50:34,480 --> 00:50:36,800 and a lot can happen in ten fifteen years, So that's what we can 775 00:50:36,800 --> 00:50:38,880 help. Kind of show too. Was it outlook look like with the new 776 00:50:39,000 --> 00:50:43,840 developments in your life? I said earlier in the show that Ron came on 777 00:50:43,920 --> 00:50:45,480 last week and talked a little bit about electric vehicles, and if you have 778 00:50:45,559 --> 00:50:50,400 no interest at all in electric vehicles, would never consider one for the rest 779 00:50:50,440 --> 00:50:54,159 of your life. You can take the next ten minutes and go have a 780 00:50:54,239 --> 00:50:59,760 soda or something, because I'm going to talk about electric vehicles. Ron perked 781 00:50:59,800 --> 00:51:02,159 my interest, piqued my interest, if you will. I argued with him 782 00:51:02,760 --> 00:51:09,880 over the dealing, just argued with him a little bit online, discuss a 783 00:51:09,880 --> 00:51:14,159 little thing online. Then I decided I was going to start checking it out 784 00:51:14,159 --> 00:51:19,679 for myself. I started visited the Tesla dealership. When looking around, really 785 00:51:19,679 --> 00:51:24,239 started doing some homework on this whole electric vehicle thing. We've we saw electric 786 00:51:24,360 --> 00:51:30,000 vehicle sales increase. They were only four percent back in twenty twenty electric vehicle 787 00:51:30,039 --> 00:51:35,599 sales in twenty four and twenty excuse me, two years later, they'd gone 788 00:51:35,639 --> 00:51:39,559 from four percent to fourteen percent. They're expected to be eighteen percent this year 789 00:51:39,880 --> 00:51:45,320 and by twenty twenty five expected to be twenty five percent of all sales are 790 00:51:45,320 --> 00:51:47,679 going to be electric vehicles. So it's of interest to a lot of people. 791 00:51:47,679 --> 00:51:52,960 It's growing exponentially. I don't want to be forced to buy an electric 792 00:51:52,039 --> 00:51:57,320 vehicle. I don't think we're going to get to all electric vehicles by twenty 793 00:51:57,400 --> 00:52:00,840 thirty in any way, shape or form. But there's some things about electric 794 00:52:00,960 --> 00:52:02,639 vehicles that you need to know. And I think, Dylan, one of 795 00:52:02,679 --> 00:52:07,320 the most significant things that I discovered over the last week or so in exploring 796 00:52:07,360 --> 00:52:13,920 this whole area is companies have been really good in figuring out how to build 797 00:52:14,000 --> 00:52:17,679 electric vehicles. What they have not been any good at is figuring out how 798 00:52:17,719 --> 00:52:22,199 to charge electric vehicles. They can build them, but they haven't been able 799 00:52:22,199 --> 00:52:25,519 to figure out how to charge them. Let me explain. There's three levels 800 00:52:25,519 --> 00:52:30,360 of charging when with an electric vehicle. Level one, that's the basic level. 801 00:52:30,400 --> 00:52:35,400 That's if you plug your electric vehicle into a wall outlet, you only 802 00:52:35,440 --> 00:52:39,320 get about three to five miles of charging for every hour that you're plugged in. 803 00:52:39,360 --> 00:52:42,800 So, in other words, you plug it in when you get home 804 00:52:42,840 --> 00:52:45,119 from work, and when you leave in the morning, you've bought yourself about 805 00:52:45,159 --> 00:52:49,199 fifty miles worth a charge. And that may be enough for some people, 806 00:52:49,639 --> 00:52:52,840 it certainly is not enough for most. That's a level one. Level two 807 00:52:52,000 --> 00:52:55,920 that's your typical home charger. Level two runs on a two hundred and twenty 808 00:52:55,920 --> 00:53:00,440 Bold outlet. It's easily installed. Had my electrician out this fast week and 809 00:53:00,840 --> 00:53:04,199 look at my house and said, if you were to want to do that, 810 00:53:04,280 --> 00:53:07,840 could you do it? Not a problem. Level two chargers are what 811 00:53:07,960 --> 00:53:12,079 you're going to see out there. Two of the largest companies, the largest 812 00:53:12,719 --> 00:53:16,800 company in terms of number of chargers is charge Point and the second largest company 813 00:53:16,920 --> 00:53:22,840 is ev Go. I like that name eve Go, and what they're putting 814 00:53:22,880 --> 00:53:25,119 out there, for the most part, are level two chargers. Now, 815 00:53:25,239 --> 00:53:31,559 level two chargers are going to get you about fifty miles per hour of charging. 816 00:53:31,960 --> 00:53:36,519 You get about fifty miles prose if you're on a trip from Twosons to 817 00:53:36,559 --> 00:53:39,679 San Diego and you stop in Yuma, you're gonna be there three or four 818 00:53:39,679 --> 00:53:45,719 hours to fill up your vehicle. That's not going to work. And almost 819 00:53:45,760 --> 00:53:52,280 all of the chargers out there are charge point or eve Go non Tesla chargers, 820 00:53:52,239 --> 00:53:57,480 and those are just simply not gonna work when you're on a trip. 821 00:53:57,840 --> 00:54:00,079 They're going to be effective in your office US if you have a bank of 822 00:54:00,119 --> 00:54:04,840 them at your office, or maybe in a hospital where people are gonna be 823 00:54:04,880 --> 00:54:07,079 there a while, somewhere where you can say, oh, I'd just like 824 00:54:07,119 --> 00:54:09,280 to top it off a little bit, you know. But if you're on 825 00:54:09,280 --> 00:54:14,639 a trip trying to get from Tucson to San Diego or me Ala Elizabel, 826 00:54:15,920 --> 00:54:19,000 I'm not gonna want to go to one of those charges. I'm gonna want 827 00:54:19,119 --> 00:54:23,039 level three. Level three is where Tesla shines. This is what you want 828 00:54:23,039 --> 00:54:27,039 when you're on the road. These guys use DC currents to the base at 829 00:54:27,079 --> 00:54:30,079 AC. They cost about ten thousand dollars per units. They'll give you a 830 00:54:30,119 --> 00:54:37,639 full charge in about fifteen minutes. That's that's reasonable. Two fifty's pardon that's 831 00:54:37,679 --> 00:54:40,599 two hundred and fifty. It's actually anywhere anywhere for twenty five kilo lots to 832 00:54:40,840 --> 00:54:46,519 three hundred and fifty kilo lots is considered a level three, but most of 833 00:54:46,519 --> 00:54:51,719 them are one one seventy five to one fifty. There's a two fifty here 834 00:54:51,719 --> 00:54:53,639 in town, and the rumor that there's a three fifty coming. The three 835 00:54:53,800 --> 00:54:59,119 fifty would charge you in probably five minutes. Yeah, so then that's competing 836 00:54:59,119 --> 00:55:00,639 with gas stations there. Oh yeah, yeah, so if they were all 837 00:55:00,679 --> 00:55:05,400 three fifties. But the point of all of this is, as I looked 838 00:55:05,440 --> 00:55:12,039 at electric cars, if you cannot charge your car on a Tesla charger, 839 00:55:13,679 --> 00:55:17,159 you've got yourself a problem because you're going to have to go to a level 840 00:55:17,199 --> 00:55:22,519 two charger. Yeah. And I mean that's why when Must came out and 841 00:55:22,559 --> 00:55:23,920 said last week or the week before, when they were talking about it, 842 00:55:24,480 --> 00:55:30,840 how they're opening their chargers to Chevrolet and Ford right there, he said, 843 00:55:30,840 --> 00:55:32,679 it's the moral thing to do because he, I mean, he obviously knows 844 00:55:32,679 --> 00:55:37,480 his charger is just better and they're quicker, and they just he needs to 845 00:55:37,480 --> 00:55:39,239 open it up to everybody. And he said that's what they just have to 846 00:55:39,280 --> 00:55:44,480 do morally. After Tesla announced, Tesla announced that they were going to allow 847 00:55:44,639 --> 00:55:50,800 Ford and GM to use their chargers. The stock just took off like a 848 00:55:50,840 --> 00:55:53,039 spaceship Tesla stock, which is one of the things that got me look at 849 00:55:53,079 --> 00:55:55,320 them. Wait, wait, why is that a big deal? This seems 850 00:55:55,360 --> 00:56:00,639 like it's a negative for Tesla customers, which it is ultimately, And and 851 00:56:01,000 --> 00:56:06,400 I one of the electric vehicles I looked at last week in my learning process 852 00:56:06,440 --> 00:56:10,679 here was the Ford Makie, which is a cool look and suv. Here's 853 00:56:10,679 --> 00:56:15,039 the problem. They're not going to have access to those Tesla chargers for twelve 854 00:56:15,320 --> 00:56:20,719 for twelve months. Interesting, they ain't the deal, but they have to 855 00:56:20,760 --> 00:56:23,760 manufacture the adapter and all that, and so that that's going to take a 856 00:56:23,800 --> 00:56:29,440 well, So Tesla stock took off because people like me. It was up 857 00:56:29,480 --> 00:56:31,679 thirteen days in a row, fourteen days, it was up today, fourteen 858 00:56:31,760 --> 00:56:37,599 days in a row Friday after announcing that deal. And again, if you're 859 00:56:37,679 --> 00:56:42,760 if you're going to be trying to take a Tesla out on the highway, 860 00:56:43,280 --> 00:56:45,679 excuse me, let me rephrase. If you're going to be trying to take 861 00:56:45,679 --> 00:56:50,159 an electric vehicle out on the highway, you better have access to Tesla chargers 862 00:56:50,360 --> 00:56:52,360 or it's going to be a miserable experience. Not funny. You're gonna be 863 00:56:52,400 --> 00:56:57,760 waiting forever. So so bottom line, what you have right now is you 864 00:56:57,760 --> 00:57:01,480 have Tesla and you have everybody else. And it isn't because of the technology. 865 00:57:01,800 --> 00:57:06,159 It isn't because of the look of the car. It's because of the 866 00:57:06,239 --> 00:57:12,440 darned chargers. Yea. And that never crossed my mind that that you would 867 00:57:12,480 --> 00:57:19,639 have vehicles being produced that couldn't be charged out on the road in any expeditious 868 00:57:19,639 --> 00:57:22,679 manner, because you're thinking it's like gas stations where you could star. Sure, 869 00:57:22,960 --> 00:57:24,280 I mean, come on, who didn't think of this? Wow, 870 00:57:24,719 --> 00:57:28,679 I'm glad. I'm glad anyway that there you go. I'm done with my 871 00:57:28,679 --> 00:57:34,400 my eving moment. John Sabilia our attorney here, and John hasn't is an 872 00:57:34,440 --> 00:57:37,400 independent attorney, but he has offices here. He has been seeing clients of 873 00:57:37,400 --> 00:57:42,920 ours, We have been seeing clients of his. It's a wonderful relationship. 874 00:57:42,960 --> 00:57:45,719 If you need a will of trust, any kind of thing of that nature, 875 00:57:46,360 --> 00:57:50,519 Jonathan is here in our office and more than willing to do it. 876 00:57:50,800 --> 00:57:52,920 Jonathan. Welcome, thank you, Welcome to the Money Matter Show. It's 877 00:57:53,639 --> 00:57:57,960 you make it every week. We missed last week and that was. That 878 00:57:58,000 --> 00:58:00,519 was my bad, but welcome back. Thank you very much. I appreciate 879 00:58:00,840 --> 00:58:05,280 well. I think one of the one of the more interesting things that in 880 00:58:05,280 --> 00:58:08,159 in why you have an office right next to mine, so I hear a 881 00:58:08,159 --> 00:58:12,079 lot of the things that go on in your office even though I'm deaf. 882 00:58:12,519 --> 00:58:16,440 Um, the are the variety of things, the variety of questions, and 883 00:58:16,880 --> 00:58:20,800 I guess if it wasn't a little bit complex, you wouldn't come to an 884 00:58:20,800 --> 00:58:22,920 attorney, You would just deal with it. A lot of times there's, 885 00:58:23,039 --> 00:58:28,519 uh, there's a lot of d I Y do it yourself issues that can 886 00:58:28,639 --> 00:58:30,440 be taken care of cheaply. You can give me a call and if it 887 00:58:30,559 --> 00:58:32,920 is a d I want d I Y issue, Uh, you know, 888 00:58:32,960 --> 00:58:37,079 I'm happy to you know, kind of without giving you too much legal advice 889 00:58:37,079 --> 00:58:40,559 where I'm on the hook, try to assist you in any way I can. 890 00:58:42,119 --> 00:58:46,239 Um, there's lots of issues that do come up, but the ones 891 00:58:46,239 --> 00:58:50,239 that I do handle tend to be the more complex, all right, the 892 00:58:50,280 --> 00:58:55,920 ones that I don't recommend, uh that a client or some some someone who 893 00:58:55,960 --> 00:59:00,519 doesn't know the legal framework of the situation and to do it themselves, because 894 00:59:00,519 --> 00:59:04,320 if they do, getting over their head. It might cost more money than 895 00:59:04,320 --> 00:59:07,800 just I was gonna say, how many times have you been paid to unwind 896 00:59:07,920 --> 00:59:10,639 something that got all wound up by somebody trying to do it themselves. You 897 00:59:10,639 --> 00:59:14,800 know, I hate to say it sometimes, but I tell clients, especially 898 00:59:14,800 --> 00:59:17,360 when they do their own LLC as you know, you may be able to 899 00:59:17,400 --> 00:59:21,039 do it for X amount of dollars. I'm telling you how much I would 900 00:59:21,119 --> 00:59:22,559 charge you to do it, But if you do it, make a mistake, 901 00:59:22,599 --> 00:59:27,440 I'm going to charge them more to fix your problems. Very well played, 902 00:59:27,960 --> 00:59:30,599 very well play. They go the cost more to fix the problem that 903 00:59:30,679 --> 00:59:31,519 it would for me to do it in the first place. And there's a 904 00:59:31,519 --> 00:59:35,840 lot more legal liability there when you when I'm when I'm cleaning up a mess. 905 00:59:35,880 --> 00:59:40,079 Oh absolutely absolutely. Um, you see so many different things. So 906 00:59:40,119 --> 00:59:43,800 you had one this week you were talking we were talking about earlier. Well, 907 00:59:43,880 --> 00:59:47,079 let me first start by saying that I kinda sat in on a meeting 908 00:59:47,079 --> 00:59:50,920 with one of actually Todd. I wish I could you could be here. 909 00:59:50,920 --> 00:59:52,840 Why I praise him? Um, you know, what are the big things 910 00:59:52,880 --> 00:59:57,400 about, you know, dealing with a financial planners? Um, I grew 911 00:59:57,480 --> 01:00:00,840 up during the mate off situation, and I actually went to UH and I 912 01:00:00,880 --> 01:00:04,840 was telling you about this. I sat next to a kid in home room 913 01:00:04,880 --> 01:00:07,639 who you know, ran off with a bunch of money, and he was 914 01:00:07,679 --> 01:00:12,599 a financial planner, and I asked you, you know, how do you 915 01:00:13,039 --> 01:00:15,559 make me feel better about that? When I was sitting there with Todd and 916 01:00:15,599 --> 01:00:22,440 we were talking with a client the way you guys have safeguards, it would 917 01:00:22,480 --> 01:00:25,239 it makes me feel comfortable referring people to you. And in fact, we 918 01:00:25,280 --> 01:00:28,800 had a client that was kind of asking those questions. It made me feel 919 01:00:28,800 --> 01:00:30,800 better about how the way he answered them. But it was also a client 920 01:00:31,039 --> 01:00:39,599 that didn't necessarily need a financial planner because their their disposable cash wasn't there yet. 921 01:00:39,679 --> 01:00:44,440 He said, you know what, as your friend, as a fiduciary, 922 01:00:44,559 --> 01:00:46,960 I don't recommend you start investing because you need X amount of dollars before 923 01:00:46,960 --> 01:00:49,960 you invest with you guys. And it kind of made me feel good that 924 01:00:50,000 --> 01:00:52,440 you guys aren't just taking you know, you're just taking everybody's money. You're 925 01:00:52,440 --> 01:00:57,159 actually helping them out and letting them know what's right and what's wrong. You 926 01:00:57,159 --> 01:01:00,599 know, you're not just uh, you're just not taking in as much money 927 01:01:00,599 --> 01:01:04,079 as you can. So it made me feel good and I really appreciate that 928 01:01:04,119 --> 01:01:07,920 and thank you for having me here. And on that, I did have 929 01:01:07,960 --> 01:01:13,480 a few clients, uh that called in, that were referred in and I 930 01:01:13,559 --> 01:01:17,719 kind of wanted to talk. I promised I would talk about some of the 931 01:01:17,800 --> 01:01:23,920 things that we uncovered during our meetings. Particular client asked this particular client exactly. 932 01:01:23,960 --> 01:01:29,480 So one in particular was duan Celle clause. All right. So a 933 01:01:29,559 --> 01:01:35,519 duan Celle clause to basically U to put in layman's terms, is it's in 934 01:01:35,519 --> 01:01:43,199 the mortgage and a bank has the right to enforce h an immediate payment on 935 01:01:43,239 --> 01:01:46,320 that mortgage if you fall into a certain category. You know, if you 936 01:01:46,360 --> 01:01:50,679 owe three hundred thousand dollars, that duan Celle clause, if it's triggered, 937 01:01:50,800 --> 01:01:52,840 the bank can make you paid to three hundred thousand dollars or will force a 938 01:01:52,880 --> 01:01:57,519 cell of the home. All right. So, um, there was a 939 01:01:57,599 --> 01:02:02,519 law that was passed called the German the Garn Saint Germain Act back in eighty 940 01:02:02,519 --> 01:02:06,440 two. All right, Garn and Saint Germain. I think it was a 941 01:02:06,440 --> 01:02:08,840 Republican and Democrat. It was a deregulation, believe it or not. A 942 01:02:08,840 --> 01:02:14,960 Democrat was looking for deregulation of the banking system. But what it did is 943 01:02:15,000 --> 01:02:22,039 that, yes, it was passed basically making bank allowing banks to enforce a 944 01:02:22,159 --> 01:02:27,280 due on sale clause unless you fall into one unless you fall under one of 945 01:02:27,360 --> 01:02:30,360 nine categories, all right, and a bunch of those categories not but might 946 01:02:30,400 --> 01:02:34,880 not be relevant. But one of those categories if you take your home and 947 01:02:35,000 --> 01:02:38,400 transfer into a vocable trust, all right. If you if you transfer the 948 01:02:38,440 --> 01:02:45,239 home into a vocable trust, the bank cannot enforce the duan Celle clause. 949 01:02:45,519 --> 01:02:47,920 You may get a snot nose mortgage guy who's probably been into business for a 950 01:02:49,000 --> 01:02:52,000 year and tell you you can't transfer to a revocable trust. That's untrue. 951 01:02:52,039 --> 01:02:54,679 You have a federal protection that says that you can transfer it. Also, 952 01:02:55,079 --> 01:02:59,400 if you pass away with the home and it goes to a relative, Now 953 01:03:00,119 --> 01:03:02,840 law did not define what relative means, but if you pass away and your 954 01:03:02,840 --> 01:03:07,840 house goes to a relative, the bank cannot enforce to do on sale clause. 955 01:03:07,880 --> 01:03:15,519 So basically, whoever your beneficiary is of that trust, that that relative, 956 01:03:15,679 --> 01:03:20,559 they can keep on making those mortgage payments without without the bank, you 957 01:03:20,599 --> 01:03:22,840 know, putting up a fight. Well, I did not know, and 958 01:03:22,880 --> 01:03:27,360 I did mortgages for ten years, I did not know that. Yeah. 959 01:03:27,440 --> 01:03:30,199 In fact, I was talking to my buddy who's a real estate property attorney, 960 01:03:30,199 --> 01:03:31,000 says, we don't really deal a lot, Matt. So it's I 961 01:03:31,000 --> 01:03:37,039 guess it's exclusive to us A state planners. So interesting if someone dies and 962 01:03:37,159 --> 01:03:40,480 they leave their house to their child, the child can continue to make the 963 01:03:40,559 --> 01:03:46,039 mortgage famous. And even though the title to the property has changed exactly. 964 01:03:46,199 --> 01:03:50,880 And that's the big thing, is that the title is transferred. So and 965 01:03:50,920 --> 01:03:53,719 there's the nine exceptions, but one of the big things that one, it 966 01:03:53,800 --> 01:03:59,800 has to be a personal residence. Okay, you can't transfer into an LLC. 967 01:04:00,400 --> 01:04:02,920 You would probably want to get that in writing from the bank saying they 968 01:04:02,920 --> 01:04:09,639 won't trigger the Duancelle clause. It has to be a dwelling with less than 969 01:04:09,679 --> 01:04:14,320 five and I think it's five dwellings. That's usually apartment buildings that they're trying 970 01:04:14,320 --> 01:04:17,039 to commercial properties. But it's a it's a it's a personal residence. So 971 01:04:17,079 --> 01:04:21,280 I just want people to realize that, you know, when you are dealing 972 01:04:21,400 --> 01:04:27,079 with mortgage companies, when you're dealing with banks sometimes and a lot of times 973 01:04:27,079 --> 01:04:30,000 people that deal mortgages. They don't understand it, and they may tell you 974 01:04:30,039 --> 01:04:32,920 can't transfer into a revocable trust. That's absolutely incorrect. You can as long 975 01:04:32,960 --> 01:04:36,920 as it's inter vievos and you are the beneficiary, and a revocable trust you 976 01:04:36,960 --> 01:04:41,280 are the beneficiary. Is there any limit to it like a million dollar house 977 01:04:41,400 --> 01:04:45,039 or no limits? Suker? Interesting? And when you refinance, the mortgage 978 01:04:45,039 --> 01:04:50,039 company frequently will require you take it out of the trust, the property out 979 01:04:50,079 --> 01:04:55,400 of the trust, put it in joint Tennessee, then close on your loan, 980 01:04:56,039 --> 01:04:58,880 and then they'll typically like you did it back in correct. I've done 981 01:04:58,880 --> 01:05:01,519 that several times with the refinances over the years and never really had a problem 982 01:05:01,519 --> 01:05:03,280 with In fact, you were telling me the other day you had to double 983 01:05:03,360 --> 01:05:06,960 check you You're just to make sure you actually went double checked after you said, 984 01:05:08,079 --> 01:05:10,159 I checked for you after, did you? Yeah, you have the 985 01:05:10,159 --> 01:05:13,559 Pema County Assessor ubic information. Yeah, absolutely, that's what I went to 986 01:05:13,599 --> 01:05:16,599 the Pema County Assessor's website. I think it was the assessor or treasure probably 987 01:05:16,639 --> 01:05:20,639 assessor. Uh, it is the assessor, Yeah, I think it was 988 01:05:20,679 --> 01:05:26,760 the assessor that so this particular client, Well, can you talk about that 989 01:05:26,960 --> 01:05:30,239 situation? That Well, we were just kind of going through things, um, 990 01:05:30,519 --> 01:05:33,440 because you know, they're worried that they will you know, they may 991 01:05:33,480 --> 01:05:36,760 pass away with a mortgage on the property. Sure, they're worried that their 992 01:05:36,840 --> 01:05:41,679 children, um uh, you know, they don't want to have to refin. 993 01:05:42,000 --> 01:05:44,000 You know, you already have a two percent right now, a two 994 01:05:44,039 --> 01:05:47,320 percent mortgage. If they have to refinance at what six percent? Seven, 995 01:05:47,679 --> 01:05:51,599 that's kind that's kind of the catalyst for this exactly. People are coveting the 996 01:05:51,679 --> 01:05:56,960 mortgages, and that's one of the things that kept the housing market from falling 997 01:05:56,960 --> 01:06:00,440 apart, is people are just coveting these mortgages and not wanting to sell even 998 01:06:00,440 --> 01:06:04,679 though their property value is clearly going down, not dramatically, but I think 999 01:06:04,679 --> 01:06:09,960 mine's down about ten percent from the peak, and I think that's pretty typical. 1000 01:06:10,119 --> 01:06:13,199 Yeah, I definitely say so. Yeah. And that's what's keeping them 1001 01:06:13,239 --> 01:06:17,239 from selling, is is that coveting those mortgage rates. I know I covet 1002 01:06:17,320 --> 01:06:23,599 mine, so so that was her biggest concern is that, well, that 1003 01:06:24,480 --> 01:06:28,079 the child would not be able to keep that mortgage rate. That's a lot 1004 01:06:28,119 --> 01:06:31,639 of people's concern is that, what's my child going to do if they have 1005 01:06:31,719 --> 01:06:34,400 to refly. We want to keep the house in the family. We don't 1006 01:06:34,440 --> 01:06:38,000 worry, you know, just you know, and if if there is an 1007 01:06:38,000 --> 01:06:40,840 issue, if the bank does give us, think you know, call an 1008 01:06:40,880 --> 01:06:44,400 attorney, have them chat, you know, show them the show them a 1009 01:06:44,480 --> 01:06:47,079 law to say, hey, you this, we are federally protected. You 1010 01:06:47,119 --> 01:06:51,800 cannot accelerate the mortgage. I had no idea, and I can, but 1011 01:06:53,039 --> 01:06:56,480 I can see the catalyst for that is that rate? Oh yeah, without 1012 01:06:56,519 --> 01:07:01,519 a doubting on this week. It's interesting. Uh there's golf. Uh no, 1013 01:07:01,840 --> 01:07:08,840 it's another I actually had a phone call with another listener and uh, 1014 01:07:08,960 --> 01:07:11,519 something I did want to bring up because when I was I worked for a 1015 01:07:11,519 --> 01:07:15,119 pretty big firm in Phoenix, and the last client I worked on it was 1016 01:07:15,119 --> 01:07:19,719 a business and they merge with another another company, and it was their job 1017 01:07:19,880 --> 01:07:26,440 to reach out to former employees and pay out stale. I believe it was 1018 01:07:26,960 --> 01:07:32,000 part retirement some stock options. Okay, I would say a hundred of the 1019 01:07:32,079 --> 01:07:36,119 country. There was about one hundred former employees we could not locate, so 1020 01:07:36,320 --> 01:07:43,079 we had to basically in seven or eight different states. We had to submit 1021 01:07:43,159 --> 01:07:48,599 those stock options to unclaimed personal property. A lot of people don't realize that 1022 01:07:48,639 --> 01:07:55,239 you can go on your states Unclaimed personal Property and look up look to see 1023 01:07:55,519 --> 01:08:00,599 if there's any money due to you. Because there's a listener at least last 1024 01:08:00,639 --> 01:08:05,480 week or the week before that had unclaimed personal property from a diseased spouse that 1025 01:08:05,519 --> 01:08:10,079 they had no idea about and where attempting to go get that from the state. 1026 01:08:10,519 --> 01:08:12,679 Yeah. I think we've talked about that on the show a couple of 1027 01:08:12,719 --> 01:08:15,920 times that you go do it. I can't remember the website. Did you 1028 01:08:16,039 --> 01:08:18,720 do it this week or do you I haven't gone on, But you can 1029 01:08:18,760 --> 01:08:24,520 just google Arizona personal personal Property. You can do that for California. UM. 1030 01:08:24,920 --> 01:08:27,960 So it's pretty simple and it is amazing. As the older you get, 1031 01:08:28,000 --> 01:08:30,720 as life goes on, there's a lot of things that have happened in 1032 01:08:30,760 --> 01:08:32,800 your life. And like you this this pension thing that you talked about, 1033 01:08:33,079 --> 01:08:36,880 I mean, who would ever know. Maybe maybe someone that worked for that 1034 01:08:36,920 --> 01:08:41,600 company didn't even know there was a pension that they're due. Well, a 1035 01:08:41,640 --> 01:08:45,319 lot of times it's not the person who's who it's due. They passed away, 1036 01:08:45,000 --> 01:08:48,680 the spouse moved and they didn't realize and they've been trying to contact them, 1037 01:08:48,720 --> 01:08:53,079 sending it to the last last place of residence. And that's all they're 1038 01:08:53,079 --> 01:08:55,600 really really required to do is send it to the last place of residence. 1039 01:08:55,600 --> 01:08:59,319 And if they don't, if they don't receive the mail, if they don't 1040 01:08:59,399 --> 01:09:02,039 contact them, then they kind of wash their hands and say, Okay, 1041 01:09:02,039 --> 01:09:05,800 Arizona here take to take the property. If they look for it, good 1042 01:09:05,800 --> 01:09:10,000 for them. If they don't. If they don't, you know, and 1043 01:09:10,079 --> 01:09:14,239 then the State of Arizona holds it in perpetuity. I guess right. You 1044 01:09:14,239 --> 01:09:15,640 know, I don't know the rules to that either. I would have to 1045 01:09:15,680 --> 01:09:18,439 look at look into that. That would be something for next week. We'll 1046 01:09:18,439 --> 01:09:21,520 try to find out what the rule is on that. But I've often wondered 1047 01:09:21,560 --> 01:09:26,199 that in the unclaimed property, how long does the state have to hold that? 1048 01:09:26,760 --> 01:09:31,720 And there would seems like there would be a fairly good size storage facility 1049 01:09:33,079 --> 01:09:38,399 or staff to manage all of this, because there has to be a ton 1050 01:09:38,439 --> 01:09:43,359 of it. Well, what they do, and from my experience of actually 1051 01:09:43,359 --> 01:09:45,880 being part of the business that had to submit the claims to the state, 1052 01:09:46,359 --> 01:09:48,880 they just basically cut a check to the state and they hold it. So 1053 01:09:48,920 --> 01:09:54,319 I'm sure it's probably sitting in some account generating some sort of interest or sure 1054 01:09:54,359 --> 01:09:58,119 they're investing it or whatever they do. I don't know the administration side on 1055 01:09:58,159 --> 01:10:01,119 their end, but they're holding onto the CA until somebody comes and claims it. 1056 01:10:01,640 --> 01:10:08,279 But unclaimed property is not uncommon, and we've had clients and we've had 1057 01:10:08,439 --> 01:10:13,399 co workers here that went to the unclaimed property in Arizona and actually found. 1058 01:10:14,079 --> 01:10:18,000 Yeah, unclaimed property. It's surprising. You don't expect it. And like 1059 01:10:18,079 --> 01:10:21,000 I say, the older you are, the better the chance that something happened 1060 01:10:21,000 --> 01:10:26,079 to kind of wiggle its way in there. I know I have a pension 1061 01:10:26,159 --> 01:10:29,560 from when I worked for Merrilllynch one hundred years ago. I get thirty five 1062 01:10:29,600 --> 01:10:32,039 dollars a month from Marylynch. Well, I just found out I had a 1063 01:10:32,119 --> 01:10:40,359 Charles Schwab account that I just liquidated that I had no idea a fun fact. 1064 01:10:41,159 --> 01:10:45,119 I was on the IRS. I looked at my IRS transcript and I 1065 01:10:45,159 --> 01:10:48,560 saw that I had a fair market value in a Charles Schwab account from ten 1066 01:10:48,640 --> 01:10:53,319 years ago for CPA firm I worked for. So I called up Charles Schwab. 1067 01:10:53,319 --> 01:10:55,520 They're like, yeah, you know, we've been trying to contact you. 1068 01:10:55,720 --> 01:10:59,479 We have the we're holding a couple thousand dollars in your name in and 1069 01:10:59,600 --> 01:11:02,279 I in a wroth and a traditional I said, okay, let's clean it 1070 01:11:02,279 --> 01:11:06,880 out. I bought myself into a computer. There you go. It does 1071 01:11:06,920 --> 01:11:11,119 happened. I with a Merrilynch. You know, imagine getting thirty dollars a 1072 01:11:11,159 --> 01:11:13,960 month, even direct deposit, it's annoying. At the end of the year 1073 01:11:14,000 --> 01:11:15,880 you get a ten ninety nine for three hundred and sixty dollars. It's just 1074 01:11:15,880 --> 01:11:18,920 just dis annoying. I've tried to tell them, you know, pay me, 1075 01:11:19,479 --> 01:11:23,680 you know, thousand dollars and I'll sign off on you can go away, 1076 01:11:23,840 --> 01:11:28,319 but they won't do it. No, I'm stuck with my big Merrilynch 1077 01:11:28,359 --> 01:11:30,279 pension for thirty dollars a month for the rest of my life. So I 1078 01:11:30,279 --> 01:11:34,520 imagine there are other people out there that had similar situations and their employer, 1079 01:11:34,880 --> 01:11:39,159 like Merrilynch, couldn't find them, and so this thirty dollars a month goes 1080 01:11:39,199 --> 01:11:44,560 into a pool somewhere in their name and gets unclaimed. Jonathan, as always, 1081 01:11:44,600 --> 01:11:47,640 we appreciate your taking time to be with us. Always always interesting stuff, 1082 01:11:47,640 --> 01:11:50,680 and what we try to do is we try to talk about things that 1083 01:11:51,239 --> 01:11:58,640 you've You've actually been dealing with real life things that other people may be dealing 1084 01:11:58,640 --> 01:12:01,399 with as well, but just haven't thought to ask someone about it. Well, 1085 01:12:01,399 --> 01:12:04,640 now that I'm getting to know your listeners, I know exactly what questions 1086 01:12:04,640 --> 01:12:09,359 to ask and what to talk about every week. We love having you here. 1087 01:12:09,399 --> 01:12:11,960 We appreciate the work, and please give us a call if you want 1088 01:12:11,960 --> 01:12:15,800 to talk to Jonathan. First consultation is free. I'll talk to you right 1089 01:12:15,800 --> 01:12:25,359 after the present. Say it's all good morning. Once again, it's the 1090 01:12:25,439 --> 01:12:29,319 Father's Day edition of the Money Matters Show. Happy Father's Day to all of 1091 01:12:29,319 --> 01:12:31,720 you dads out there, Happy Father's Day Day. Best job in the world, 1092 01:12:31,840 --> 01:12:34,840 Thank you, buddy, best job of best job someone can get. 1093 01:12:35,640 --> 01:12:42,119 We appreciate your listening. We Dylan and Dave. We're here without Todd. 1094 01:12:42,199 --> 01:12:47,840 Todd's in Mexico and Dean Is went to Europe for a meeting with our clearing 1095 01:12:47,880 --> 01:12:51,119 firm. I think it's more of a reward trip than a meeting, but 1096 01:12:51,119 --> 01:12:58,920 they do have some meetings, and his relationship with the our clearing firm helps 1097 01:12:59,079 --> 01:13:01,199 make our firm run so much better. And if we need something, he 1098 01:13:01,680 --> 01:13:05,840 knows firsthand who to talk to it and they're fond of him. And he 1099 01:13:05,920 --> 01:13:10,880 went out dancing and with rubber soul shoes, which you're not supposed to wear 1100 01:13:10,960 --> 01:13:15,000 dancing, like tennis shoes things, and they got his foot caught and ended 1101 01:13:15,119 --> 01:13:21,439 up tearing his ACL. And he's in Europe on crutches. It's not for 1102 01:13:21,479 --> 01:13:24,800 sure as ACL. They just think it he's not going to get an MRI 1103 01:13:25,000 --> 01:13:28,760 until he gets back to the States. But after spending a night in there 1104 01:13:28,800 --> 01:13:32,279 in a Dublin hospital, Dublin hospital yet called me. He's like, where 1105 01:13:32,319 --> 01:13:34,479 do you think I am right now? And it was midnight his time, 1106 01:13:34,520 --> 01:13:36,960 so I was at a bar. He's like, I'm in the hospital. 1107 01:13:38,000 --> 01:13:41,399 I never would have guessed it. Yeah, he called me in and said 1108 01:13:42,079 --> 01:13:44,159 the same thing. You'll never guess where I am. And I said, 1109 01:13:44,840 --> 01:13:46,199 well, I think you're still in Ireland right He goes, I'm in the 1110 01:13:46,239 --> 01:13:51,840 hospital calling everybody had nothing else to do anyway. It was a great week 1111 01:13:51,880 --> 01:13:56,479 for the market and um I looked at the Target dropped to a new three 1112 01:13:56,560 --> 01:14:00,279 year low last week. Dylan, after picking up a couple more down grades, 1113 01:14:00,439 --> 01:14:05,000 is that LGBTQ boycott is joined by concerns get this, Concerns that the 1114 01:14:05,119 --> 01:14:11,840 resumption of student loan debt in September, which is part of that. But 1115 01:14:12,920 --> 01:14:16,840 death ceiling deal. Yeah, the student loan debt payments I have to resume 1116 01:14:16,880 --> 01:14:21,520 in September. That that's gonna negatively impact Target. That's one of the reasons 1117 01:14:21,520 --> 01:14:25,600 they gave for the stock being death. That's a good reasoning too, because 1118 01:14:25,840 --> 01:14:28,800 what you're gonna spend now once they resumed, we're gonn probably have two hundred 1119 01:14:28,800 --> 01:14:31,319 fifty dollars plus a month going towards student loans. I wasn't before. Targets 1120 01:14:31,319 --> 01:14:39,239 considered premium compared to Walmart and all Okay, but Costco his Costco hits a 1121 01:14:39,279 --> 01:14:43,199 new fifty two week high because you can buy them both, so targets more 1122 01:14:43,239 --> 01:14:45,680 of this. Target different from that. My question is Target is different. 1123 01:14:45,680 --> 01:14:50,840 They're more like in a sense, they're more luxurious than Walmart is how it's 1124 01:14:50,880 --> 01:14:55,439 looked at. So and then cost they go to Target for I mean people 1125 01:14:55,439 --> 01:14:58,560 that go to Target, they go there for two things, end up leaving 1126 01:14:58,560 --> 01:15:00,199 with foreign knowledge with the stuff. They're not gonna go to Target now because 1127 01:15:00,199 --> 01:15:03,439 they're gonna have the student loans that they have to pay back. They're gonna 1128 01:15:03,479 --> 01:15:05,680 go to Costco. To buy them bulk, or they're gonna go to Walmart 1129 01:15:05,800 --> 01:15:12,199 or Fries or something, or Opersons or something like that. You really do 1130 01:15:12,319 --> 01:15:16,079 see Target being more impacted than Walmart or Costco. I would say, so, 1131 01:15:16,199 --> 01:15:18,239 yep, interesting because I got to go to the discount stores if you 1132 01:15:18,239 --> 01:15:20,439 got to spend three hundred dollars on your student loans all of a sudden, 1133 01:15:20,640 --> 01:15:24,319 very good point. I was listening to a comedian years ago when it was 1134 01:15:24,359 --> 01:15:27,520 still Price Club. This was a comedian. She was on the East Coast 1135 01:15:27,920 --> 01:15:30,960 and she was explaining to the people on the East Coast what Price Club was. 1136 01:15:31,000 --> 01:15:33,640 And she goes, let me describe it this way. You would not 1137 01:15:33,720 --> 01:15:38,359 go to Price Club to buy cheese. She goes, you would go to 1138 01:15:38,399 --> 01:15:42,920 Price Club if you were going to build something out of the cheese. That's 1139 01:15:42,920 --> 01:15:46,960 fair pretty close. Target, price learnings, ratio, dividen and all. 1140 01:15:47,199 --> 01:15:51,960 It looks screaming like it's a screaming buy. And I did have a client 1141 01:15:53,760 --> 01:15:59,239 call me last week and say, good job Greg. I think, give 1142 01:15:59,239 --> 01:16:02,279 Greg a shout out, say shouldn't we be buying Target here? It's just 1143 01:16:02,319 --> 01:16:05,039 going straight down like a rock, you know, it's I said, it's 1144 01:16:05,279 --> 01:16:09,279 dirt cheap, but it's yeah, And he said, well, you're the 1145 01:16:09,279 --> 01:16:12,359 expert, and I said, well, actually, your it's your money. 1146 01:16:12,960 --> 01:16:15,520 You want to take a run of Target, I have absolutely no problem with 1147 01:16:15,560 --> 01:16:17,880 it, he texted me back. But I didn't get the text until the 1148 01:16:17,960 --> 01:16:23,319 next day. Have you had that happen where? Yeah, maybe two days 1149 01:16:23,399 --> 01:16:27,079 later this text all of a sudden comes out of nowhere. And anyway, 1150 01:16:27,119 --> 01:16:29,479 make a long story short, Stock was one twenty eight by the time I 1151 01:16:29,520 --> 01:16:32,000 saw the text, it's one thirty two and jumped to one thirty six. 1152 01:16:32,600 --> 01:16:35,319 And now it's going by down. Anyway, Target looks very, very cheap. 1153 01:16:35,399 --> 01:16:43,560 My only concern is, look at bud Look at Disney. Look at 1154 01:16:43,600 --> 01:16:48,479 how long these these boycotts, these protests, this negative press. So Disney's 1155 01:16:48,479 --> 01:16:53,119 about a year into it now, yeah, and they're kind of pushing away 1156 01:16:53,159 --> 01:16:56,319 from it, trying to get out of that whole thing. They're just trying 1157 01:16:56,319 --> 01:16:59,359 to do business now. But but yeah, but I mean Modela took over. 1158 01:16:59,680 --> 01:17:01,680 That's selling beer. Madelo is the number one beer, number one belling 1159 01:17:01,720 --> 01:17:04,640 beer. And that is Constellation Brands, who has had a good couple of 1160 01:17:04,680 --> 01:17:08,439 weeks with the news that it might takeover and then it did takeover. It 1161 01:17:08,600 --> 01:17:13,720 also owns fifty percent of Canopy Growth Constellation Brands Yep, that they bought a 1162 01:17:13,800 --> 01:17:16,640 thirty nine dollars a sharing is now sixty four cents. Yeah, how did 1163 01:17:16,680 --> 01:17:21,279 that work out? They're happy that Madela is doing better. Yeah, when 1164 01:17:21,279 --> 01:17:25,399 you're a big company like that, you can some of your ills. Yeah. 1165 01:17:25,439 --> 01:17:29,840 The weedstocks just been getting clobbered ever since. The whole idea that they're 1166 01:17:29,840 --> 01:17:33,279 going to become federally legalized quick died off. Right. People just got out. 1167 01:17:33,520 --> 01:17:38,359 They're just no way that's going to happen. It's a saturated market too. 1168 01:17:38,960 --> 01:17:42,840 Yeah. So, and then it turns out even in the legalize who 1169 01:17:42,880 --> 01:17:46,079 we're finding out here in the United States is more and more states legalize it, 1170 01:17:46,560 --> 01:17:51,800 that more than fifty percent of the sales are still illegal because you can 1171 01:17:51,800 --> 01:17:55,840 get yourselves cheaper. Yeah, and you're gonna pay the tax on it, 1172 01:17:55,880 --> 01:17:58,560 That's what I'm saying, because that's because of the taxes, because of the 1173 01:17:58,600 --> 01:18:02,960 taxes that are assessed to the growers, and the taxes are assessed at the 1174 01:18:03,000 --> 01:18:08,279 point of sale. You're gonna pay quite a bit more for announce of marijuana 1175 01:18:08,600 --> 01:18:12,199 at a legal store here in Tucson. Then you're gonna pay on the street 1176 01:18:12,199 --> 01:18:15,560 corner. Yeah, that's a good point. That was a better control. 1177 01:18:15,760 --> 01:18:18,079 Is it safer? Yes, all that comes into play. But isn't it 1178 01:18:18,119 --> 01:18:24,319 interesting We thought if we just legalized marijuana, all that black market stuff will 1179 01:18:24,319 --> 01:18:27,279 go away. It hasn't. It's the old saying that you buy the rumor, 1180 01:18:27,319 --> 01:18:29,800 sell the news. Yeah, so you bought the rumor that was going 1181 01:18:29,840 --> 01:18:32,600 to get legalized federally and then you just selling news. But it was there 1182 01:18:32,720 --> 01:18:36,960 was a rare one last week, Dylan. Apple actually got a downgrade from 1183 01:18:38,000 --> 01:18:41,840 really yeah from Ubs. Wow. Ubs went from a buy to a hold 1184 01:18:42,560 --> 01:18:46,239 in This is one of the more popular stocks in the world. And everybody 1185 01:18:46,319 --> 01:18:49,920 knows that Apple never goes down, just goes up. And so you can 1186 01:18:49,960 --> 01:18:53,520 buy that and any kind of an account. You buy that and your great 1187 01:18:53,520 --> 01:18:58,800 gramma's account, it's fine. Yeah, a good run up they have. 1188 01:18:58,920 --> 01:19:05,039 They said that they've continued pressure for iPhone demand and services. Not that's interesting 1189 01:19:05,079 --> 01:19:10,159 because are we at a point now where everybody that needs a cell phone has 1190 01:19:10,199 --> 01:19:13,199 one? I would think so. I mean it seems like we're getting there 1191 01:19:13,199 --> 01:19:16,319 because you look at a Verizon there is no growth now Verizon is the number 1192 01:19:16,359 --> 01:19:21,840 one provider of cell phone service in the world. You see no growth there 1193 01:19:21,840 --> 01:19:25,079 at all. None. Yeah, because, like you said, everybody who 1194 01:19:25,159 --> 01:19:29,479 has a cell phone has one. All that is now is upgrades. There 1195 01:19:29,560 --> 01:19:34,720 was a gall in our building last week and the Yellow cab called and said 1196 01:19:34,800 --> 01:19:40,520 that they would This number was given for someone who needed a Yellow cab and 1197 01:19:40,560 --> 01:19:43,680 I thought, gosh, who could that be and why would they call our 1198 01:19:44,079 --> 01:19:49,239 office landline for that? Turns out there was a older gal downstairs. There's 1199 01:19:49,279 --> 01:19:55,439 a kidney doctor downstairs. There was an old, older gal who had had 1200 01:19:55,439 --> 01:20:00,079 her kidney appointment and needed a cab and asked one of our employees to use 1201 01:20:00,119 --> 01:20:04,960 her cell phone to call the gap, and they gave our but the scale 1202 01:20:05,000 --> 01:20:09,560 did not have a cell phone. Interesting, and I was so surprised at 1203 01:20:09,600 --> 01:20:12,439 that. You know that. Yeah, you don't hear that very often, 1204 01:20:12,600 --> 01:20:15,920 You don't, You don't. I've heard it more that people don't have emails 1205 01:20:15,119 --> 01:20:19,039 than cell phones. Yeah. Yeah. And the one thing I'll tell you, 1206 01:20:19,079 --> 01:20:21,000 the one thing I wouldn't want to be long, I wouldn't want to 1207 01:20:21,039 --> 01:20:25,720 be buying you if you're investing, is saying what's a good investment right now? 1208 01:20:26,119 --> 01:20:30,720 It's certainly not checking accounts. It's terrible. I'm seeing fewer and fewer 1209 01:20:30,760 --> 01:20:33,319 people with checking accounts. I mean, checking accounts are a dying are a 1210 01:20:33,439 --> 01:20:38,760 dying entity. It's unbelievable. Yeah. Yeah, well there's nothing, there's 1211 01:20:38,800 --> 01:20:42,920 no money to gain in there. You're just spending it as little as possible 1212 01:20:42,920 --> 01:20:45,039 in there, exactly. You know, so much business has gone away from 1213 01:20:45,159 --> 01:20:50,560 China. Recently, the Japan stock market rallied to a thirty three year high. 1214 01:20:50,680 --> 01:20:57,479 Japan. Now, Japan has been boring since I was young. Not 1215 01:20:57,600 --> 01:21:00,479 a place to put money, not a not a good investment in place. 1216 01:21:00,439 --> 01:21:08,479 Their population is elderly, their industries on matur but they did get a big 1217 01:21:09,199 --> 01:21:14,039 bump from the drop off in China business. I'm from an overall excuse me, 1218 01:21:14,079 --> 01:21:20,000 an overhaul of corporate governance rules in the country that now compel company executives 1219 01:21:20,079 --> 01:21:27,880 to improve shareholder returns. It's actually a government mandated policy. Yeah. J 1220 01:21:28,000 --> 01:21:32,279 F Morgan analysts said last week that the structural change is starting to take in 1221 01:21:32,359 --> 01:21:36,439 Japan and could give the current market rally stain power. So do you think 1222 01:21:36,439 --> 01:21:40,680 Toyota is going to do really well? Yeah? I think Taryota is gonna 1223 01:21:40,680 --> 01:21:44,079 make it. Yeah you think, I think they will. I'm saying maybe 1224 01:21:44,079 --> 01:21:45,800 they weren't even thinking of that before, and now they got the mandate for 1225 01:21:45,880 --> 01:21:48,560 it, it might do even better. You know, the Nazdak stocks here 1226 01:21:48,640 --> 01:21:54,720 on fire, but the exchange not so much. The Nazdak exchange, down 1227 01:21:54,760 --> 01:21:59,239 five percent for the year, dropped an another eleven percent on Monday after they 1228 01:21:59,279 --> 01:22:03,520 announced it able to buy software company a Denza for ten point five billions. 1229 01:22:03,520 --> 01:22:08,520 So what they're trying to do is they're trying to diversify, which is a 1230 01:22:08,600 --> 01:22:12,159 smart thing to do if you're in business, right, Diversification is a good 1231 01:22:12,199 --> 01:22:17,199 thing. Market did not like it. It is the NAZDAC exchange is largest 1232 01:22:17,239 --> 01:22:24,439 acquisition ever and the market is saying, we're not a big fan of you 1233 01:22:24,520 --> 01:22:28,199 to diverse. Fine, we kind of like you the stranglehold you have on 1234 01:22:28,239 --> 01:22:31,159 the NASDAC. Yeah, that's interesting. You got a tip for federal employees. 1235 01:22:31,239 --> 01:22:34,520 We deal with a lot of federal employees here and their TSP rolling it 1236 01:22:34,600 --> 01:22:38,399 over and everything like that. And we know a lot of federal employees do 1237 01:22:38,560 --> 01:22:43,560 retire early and considerably to fifty nine and a half, so they roll over 1238 01:22:43,560 --> 01:22:46,720 their IRA into or their TSP into an IRA. What I learned on Friday 1239 01:22:46,840 --> 01:22:53,039 was that if you retire the year you turn fifty five or later and then 1240 01:22:53,159 --> 01:22:56,520 say you leave it in the TSP up until you're before you're fifty nine and 1241 01:22:56,560 --> 01:23:00,359 a half, you will not incur the ten percent penalty if you will dropped 1242 01:23:00,399 --> 01:23:03,920 from the TSP, but if you retire fifty four or earlier, you will 1243 01:23:04,239 --> 01:23:08,239 have that. And if you roll it into an IRA between that time, 1244 01:23:08,560 --> 01:23:12,199 IRA rules apply, which is, if you take it out before fifty nine 1245 01:23:12,199 --> 01:23:14,760 and a half, you will have a ten percent penalty, but if you 1246 01:23:15,079 --> 01:23:16,920 so, if you leave it in your TSP, you won't have a penalty. 1247 01:23:17,119 --> 01:23:19,640 Which was interesting. I didn't know that. I'm actually I did know 1248 01:23:19,680 --> 01:23:24,239 that. I'm actually aware of that because I had a situation a couple of 1249 01:23:24,319 --> 01:23:29,439 years ago where we had a federal and file a retired fifty five rolled his 1250 01:23:29,600 --> 01:23:33,840 IRA into excuse me, rolled his TSP into an IRA because he had a 1251 01:23:33,880 --> 01:23:40,479 lot more investment choices. Yeah, two years in he needs money, we 1252 01:23:40,479 --> 01:23:43,439 send him the money. Yeah, then he goes to file his tax and 1253 01:23:43,439 --> 01:23:47,479 he goes, what is this ten percent penalty? And the account explains, 1254 01:23:47,520 --> 01:23:49,359 well, because you're coming out of an IRA. He goes, no, 1255 01:23:49,560 --> 01:23:53,600 I'm a TSP guy. No, no, No, you rolled it into 1256 01:23:53,640 --> 01:23:56,520 an IR. Yeah. So if you're between the ages, if you retire 1257 01:23:56,560 --> 01:23:59,439 fifty five and you think you might need money before fifty nine and a half, 1258 01:23:59,720 --> 01:24:01,079 you might want to but you want the more investment options, you might 1259 01:24:01,119 --> 01:24:04,000 want to leave a portion in your TSP so you don't have that penalty. 1260 01:24:04,239 --> 01:24:09,159 Yeah. I had a new client that was coming from a TSP and I 1261 01:24:09,159 --> 01:24:12,680 said to him exactly, I said, do you understand because you're Fitch five, 1262 01:24:12,760 --> 01:24:15,800 you understand that if you need money before fifteen nine and a half and 1263 01:24:15,920 --> 01:24:17,680 you do roll it into an IRA, there's gonna be a penalty right here. 1264 01:24:17,800 --> 01:24:20,439 I understand I'm not gonna need the money. He knew. Yeah. 1265 01:24:20,600 --> 01:24:25,159 More importantly, I knew, yeah exactly because of that one situation we got 1266 01:24:25,199 --> 01:24:28,319 involved. You'll never forget it now. I'll never forget it now. Anyway, 1267 01:24:28,560 --> 01:24:31,439 we're coming to the end of the fifth segment. Got one more to 1268 01:24:31,520 --> 01:24:35,680 go, Dylan and I enjoy bringing the show to you. Todd will be 1269 01:24:35,960 --> 01:24:39,840 back next week, but Dylan will be gone. So it's just it's kind 1270 01:24:39,840 --> 01:24:43,600 of like June in the desert revolving doors. Everybody's trying to go somewhere else. 1271 01:24:44,079 --> 01:24:48,840 We'll be back right after this break. Thanks again for listening. Say 1272 01:24:47,079 --> 01:24:53,640 it's a welcome back. You're listening to the final segment of this Father's Day 1273 01:24:53,720 --> 01:24:56,880 edition of the Money Matters Show. It's a happy Father's Day to everybody, 1274 01:24:56,960 --> 01:25:00,039 especially my dad out in Ireland. Hopefully he's having fun as much as you 1275 01:25:00,079 --> 01:25:06,079 can hobble around, Dave, Happy Father's Day. Yeah, because of Linda, 1276 01:25:06,159 --> 01:25:10,800 Thanks Linda. But yeah, I mean we've had a jam pack Shaw. 1277 01:25:10,920 --> 01:25:13,239 Is a lot of information going on, a lot of stuff going on 1278 01:25:13,279 --> 01:25:16,239 in the markets coming up to the end of the quarter with the FED positive 1279 01:25:16,319 --> 01:25:19,000 rates, everything like that, and it all comes down to what we talk 1280 01:25:19,039 --> 01:25:21,319 about all the time, is your plan. Do you have a plan? 1281 01:25:23,079 --> 01:25:25,880 If you don't, give us a call. If you do have a plan 1282 01:25:25,920 --> 01:25:28,960 but you think it might be outdated, give us a call anytime you got 1283 01:25:28,960 --> 01:25:30,560 to think about it. We are glad to help. It's a free financial 1284 01:25:30,560 --> 01:25:34,239 plan that we offer and we just want to help you guys feel at peace 1285 01:25:34,640 --> 01:25:38,479 with what you're doing in retirement, getting ready for it. If you're already 1286 01:25:38,520 --> 01:25:41,920 in it, how you're going to do the income do you need more income 1287 01:25:41,960 --> 01:25:44,840 from somewhere else? Are you going to touch your assets or do you have 1288 01:25:44,840 --> 01:25:46,520 your good pensions going on, a lot of Feds do have great pensions, 1289 01:25:46,520 --> 01:25:49,239 so they don't even need to touch their TSP. They just wanted to grow 1290 01:25:49,560 --> 01:25:54,079 most likely for their kids. Stuff like that. Social Security optimizer, we 1291 01:25:54,119 --> 01:25:56,520 can help you with that. See when the best time is to take a 1292 01:25:56,640 --> 01:26:01,680 social Security based off numbers. Obviously there's other factors in that happened with social 1293 01:26:01,680 --> 01:26:04,920 Security with alengevity in your family, stuff like this, do you think you 1294 01:26:05,000 --> 01:26:08,880 might go back to work before your full retirement days? All that, But 1295 01:26:09,319 --> 01:26:11,640 it's all part of the conversation that we have with the financial plan. And 1296 01:26:11,640 --> 01:26:15,560 like you're saying, we've been having a lot of current clients new clients. 1297 01:26:15,600 --> 01:26:17,239 They come in, they want to do the financial plants. It's just great 1298 01:26:17,239 --> 01:26:20,680 thing to help people with. Yeah, if you need that peace of mind, 1299 01:26:20,720 --> 01:26:25,000 we certainly can help for that. I gotta shout out to listener Doug 1300 01:26:25,479 --> 01:26:28,760 and he's in Carl's Bad, California. I know if you've ever been to 1301 01:26:28,840 --> 01:26:32,079 Carl's Bad, very cool, very cool town it is. Yeah, it's 1302 01:26:32,119 --> 01:26:38,720 a kind of on the way between San Diego, and Agau and it's a 1303 01:26:38,760 --> 01:26:44,279 cool town. And he pointed out that Carl's Bad has the largest desalinization plant 1304 01:26:44,359 --> 01:26:49,119 in the Western Hemisphere. He said it can protest fifty million gallons a day. 1305 01:26:49,560 --> 01:26:53,880 Wow. Now, all the water needs in the Western United States, 1306 01:26:53,880 --> 01:27:00,520 in my opinion, could be solved by these plans. But the governing authorities 1307 01:27:00,560 --> 01:27:05,560 in California are more interested in protecting marine life than human life. Yep, 1308 01:27:06,520 --> 01:27:10,760 it sounds about right for them. There's currently twelve plants in operation, but 1309 01:27:10,840 --> 01:27:15,199 getting more builts, like getting a nuclear power plan approved, it is unbelievable. 1310 01:27:15,239 --> 01:27:18,439 You know what California is also passing is that starting the thing next year, 1311 01:27:18,840 --> 01:27:24,800 they want to charge people electricity bills based on their income. So if 1312 01:27:24,960 --> 01:27:27,720 you make one hundred and eighty thousand dollars, you were probably gonna pay five 1313 01:27:27,800 --> 01:27:30,319 hundred more dollars a year on your electric bill just because you pay more you 1314 01:27:30,359 --> 01:27:33,640 make more money. It's just they're trying to do socialism over there. They're 1315 01:27:33,680 --> 01:27:36,279 giving you no incentives to work hard and make more money. They'd rather you 1316 01:27:36,359 --> 01:27:41,920 just make less money and give it all the government. The one interesting thing 1317 01:27:41,920 --> 01:27:45,159 I discovered on my trip over there, and I had not seen this in 1318 01:27:45,239 --> 01:27:50,000 the western United States, but it's popping up pretty aggressively in Orange County. 1319 01:27:50,600 --> 01:27:56,359 Toll roads. Toll roads, Yeah, that's not a thing out on the 1320 01:27:56,359 --> 01:27:58,920 West. Usually that's all the East coast. It's not a thing. I 1321 01:27:58,920 --> 01:28:01,880 actually had to go on line to toll roads dot com or some stupid thing 1322 01:28:02,239 --> 01:28:09,319 and and register my vehicle or else I would be assessed fines for late payment. 1323 01:28:09,560 --> 01:28:12,319 There are reasoning for that, is saying they want to control the traffic 1324 01:28:12,319 --> 01:28:15,439 that happens like on the four or five and all in LA area and just 1325 01:28:15,560 --> 01:28:18,039 like that, so they're gonna charge people. Yeah, but they didn't call 1326 01:28:18,079 --> 01:28:20,399 it a toll road. They called us something else that This is the reason 1327 01:28:20,520 --> 01:28:23,680 I was like, this is a toll road, is what you're making it. 1328 01:28:23,680 --> 01:28:29,439 It's kind of like on you ever watch um not General Hospital, the 1329 01:28:29,560 --> 01:28:32,399 one in Seattle, UM grazon out of it. Yeah, thank you. 1330 01:28:32,520 --> 01:28:38,199 I've only I've only seen eighteen seasons of it. They've got a spin off 1331 01:28:38,600 --> 01:28:41,600 from that called Station nineteen, which is kind of good. It's kind of 1332 01:28:41,640 --> 01:28:44,640 like Chicago Fire. So it's a it's a cute show. Um, but 1333 01:28:44,720 --> 01:28:47,399 they don't have ambulances on this show. Now, I don't know if this 1334 01:28:47,479 --> 01:28:49,960 is real life Seattle or not, but there is no such thing as an 1335 01:28:49,960 --> 01:28:57,439 ambulance. They are aid cars, a ID cars. Why not ambulances? 1336 01:28:57,840 --> 01:29:05,760 I have no idea that probably less threatening, was less scary, dealing words 1337 01:29:05,800 --> 01:29:11,840 heard? Okay, big emotions, big emotions. Yeah, home builder lenar 1338 01:29:12,000 --> 01:29:15,319 all time high and isn't that amazing? You go back nine months ago, 1339 01:29:15,960 --> 01:29:20,199 the home builders were so out of favor because everybody knew the real estate market 1340 01:29:20,239 --> 01:29:26,399 was falling apart. Yeah, and guess what happened? They all nobody decided 1341 01:29:26,439 --> 01:29:29,880 to sell their house. Nobody's wanting to sell their house. Everybody is not 1342 01:29:29,960 --> 01:29:34,439 necessarily coveting their house, but coveting their mortgage rate exactly. So if you 1343 01:29:34,479 --> 01:29:38,119 want to buy a house, you got to buy a new house. So 1344 01:29:38,239 --> 01:29:41,960 guess what the home builders are doing? Just great, all of them hitting 1345 01:29:41,960 --> 01:29:44,720 all time highs. It's funny how that works. Yeah, because they were 1346 01:29:44,720 --> 01:29:46,279 dead in the water for a while, dead in the water. And healthcare, 1347 01:29:46,359 --> 01:29:50,560 you know, Friday, all of the insurers sold off United Healthcare, 1348 01:29:50,640 --> 01:29:57,479 Stagna, hemana um after after United. The CEO of United has said that 1349 01:29:57,600 --> 01:30:04,279 there has been a surge in on urgent surgeries surge in non urgent surgeries, 1350 01:30:04,399 --> 01:30:11,039 primarily elderly people doing elective surgery that they didn't do during the pandemic can kind 1351 01:30:11,039 --> 01:30:15,000 of put off and put off. And one thing that I know personally is 1352 01:30:15,000 --> 01:30:17,399 is orthopedic issues are going to be put off until you just can't take it 1353 01:30:17,439 --> 01:30:21,520 anymore. Yeah, until the pain is Like your dad, we'll find out 1354 01:30:21,520 --> 01:30:27,479 when he gets back. But I tore my meniscus hike in the Grand Canyon, 1355 01:30:27,800 --> 01:30:31,039 and I dealt with it for about six months until I just couldn't take 1356 01:30:31,039 --> 01:30:40,960 it anymore. Till the pain that I'm going to endure through surgery is less 1357 01:30:40,960 --> 01:30:44,439 than what I'm having to deal with every day on this with this armeniscus. 1358 01:30:44,960 --> 01:30:46,720 Yeah. Yeah, I mean you could expect that too, because a lot 1359 01:30:46,760 --> 01:30:49,840 of people, well they weren't even allowing elective surgeries for a while there none, 1360 01:30:49,880 --> 01:30:53,800 I mean for the longest time, through all of twenty twenty and most 1361 01:30:53,880 --> 01:30:57,159 of twenty twenty one, right, and now twenty twenty two, you can 1362 01:30:57,199 --> 01:30:59,279 start to do it. Well, here we are twenty twenty three, and 1363 01:30:59,279 --> 01:31:00,560 everybody's saying, well, I guess let's go ahead and do it. Yeah, 1364 01:31:00,560 --> 01:31:02,640 exactly. I want to go back to Tesla. Did you see they 1365 01:31:02,800 --> 01:31:05,720 you're mister Tesla. Now, did you see in China they have a concept 1366 01:31:05,960 --> 01:31:10,279 shop area that people can go see kind of see about the car. They 1367 01:31:10,319 --> 01:31:14,119 have an assembly line in there that makes a Tesla Model three within forty five 1368 01:31:14,159 --> 01:31:18,159 seconds. Oh my god, seconds, Holy cow. If they can get 1369 01:31:18,159 --> 01:31:23,640 that mass produced, that's insane. I went into the Tesla dealership on Oracle 1370 01:31:23,680 --> 01:31:28,239 and I just look around and they have a service department. And I said 1371 01:31:28,279 --> 01:31:30,600 to the guy, said, why would you have a service department? He 1372 01:31:30,640 --> 01:31:35,560 goes, people come in because they need their tires rotated every ten thousand miles 1373 01:31:35,640 --> 01:31:39,760 and he said, uh, once. And some people come in for broken 1374 01:31:39,760 --> 01:31:44,760 windshields. I think, isn't that like Safeco or some safeguard or whose Why? 1375 01:31:45,359 --> 01:31:47,159 He says, I'll tell you the big, biggest problem with his car. 1376 01:31:47,279 --> 01:31:49,199 Now, I go, what's that? And he takes me all his 1377 01:31:49,279 --> 01:31:54,239 smarty pants. He takes me over to this Tesla and he lifts up the 1378 01:31:54,319 --> 01:31:58,319 front which is a trunk. Yeah, it's not the engine. And there 1379 01:31:58,439 --> 01:32:01,119 is this little cap and he said, you've got to keep an eye on 1380 01:32:01,199 --> 01:32:06,000 that. It was windshell washer fluid. It's a good salesman. Yeah, 1381 01:32:06,079 --> 01:32:09,560 it's a good sale. This is gonna be mony of big issues. You 1382 01:32:09,640 --> 01:32:13,800 gotta keep that full. Yeah. Lastly, on Tesla, France wants on 1383 01:32:13,880 --> 01:32:17,760 the build a gigafactory there because they want to up there ev market get a 1384 01:32:17,760 --> 01:32:20,800 boost in there in the European market. The issue is they're trying to ban 1385 01:32:20,960 --> 01:32:25,680 Twitter. Yeah, so they're like at odds with Elon Musk right now. 1386 01:32:25,720 --> 01:32:28,399 But they want them to build a gigafactory and then band Twitter on them. 1387 01:32:28,560 --> 01:32:30,840 Yeah. I don't. I don't think there's any Boston, certainly none of 1388 01:32:30,880 --> 01:32:35,640 us here Greenberg Financial that think that the electric cars are the solution to a 1389 01:32:35,680 --> 01:32:41,279 world pollution, solution to folution like that. Um, but it's a step 1390 01:32:41,279 --> 01:32:45,199 in the right direction. That's I think we're We're support we're certainly supportive of 1391 01:32:45,199 --> 01:32:48,560 it. We're not interested in being mandated in any way, shape or form. 1392 01:32:48,600 --> 01:32:53,439 Yeah, I don't think any of us are anywhere near good with mandates. 1393 01:32:53,600 --> 01:32:56,880 No, we don't want that. It's up to you want had an 1394 01:32:56,880 --> 01:33:00,840 IPO, you know, initial public offering and IPO things that used to be 1395 01:33:00,920 --> 01:33:05,600 very common have become a very like a very very rare, very very rare. 1396 01:33:06,000 --> 01:33:13,279 And we actually had one this past week, a popular fast casual Mexican 1397 01:33:13,680 --> 01:33:18,640 restaurant Mediterranean Mediterranean thank you, called Cava, and I understand there's a couple 1398 01:33:18,680 --> 01:33:21,760 of them in Phoenix. That's what Todd was saying. I haven't eaten there, 1399 01:33:21,760 --> 01:33:26,039 but he said it's good. It's kind of like the Mediterranean version of 1400 01:33:26,079 --> 01:33:30,560 Chipotle. That's why I've heard a couple of times. They came out offered 1401 01:33:30,560 --> 01:33:34,359 at twenty two dollars to share Thursday morning, started trading about three or four 1402 01:33:34,399 --> 01:33:39,720 hours into the trading day double yep, and then it gave back about ten 1403 01:33:39,760 --> 01:33:42,319 percent of that on Friday. Yeah, it had doubled. The thing is, 1404 01:33:42,359 --> 01:33:45,479 if they run their company the same as Chipotle, they'll be a good 1405 01:33:45,520 --> 01:33:49,399 company, because chipol Stock is killing it. Pole Stock is unbelievable. It's 1406 01:33:49,439 --> 01:33:53,159 good management. It's it's like I have a good business model. They have 1407 01:33:53,199 --> 01:33:56,920 good management. They retain their employees, their board, everything. I eat 1408 01:33:56,920 --> 01:33:59,079 it from time to time, but I don't, finally, do nothing really 1409 01:33:59,079 --> 01:34:02,119 special about it. Every once in a while, it's easiness to get it. 1410 01:34:02,319 --> 01:34:04,920 Oh, it's pretty easy, and it's it's okay. You know, 1411 01:34:04,960 --> 01:34:08,520 I told you the other day out like I'll eat anything that's wrapped in a 1412 01:34:08,560 --> 01:34:11,640 tortilla. Yeah, exactly. I think I could eat Brussels sprouts if they 1413 01:34:11,680 --> 01:34:14,119 were in a Kirkia. I'm gonna get you that for your birthday. Brussels 1414 01:34:14,399 --> 01:34:16,640 Brussels sprouse wrapped in a burrito pick on, pick on me, huh, 1415 01:34:17,079 --> 01:34:20,640 you said it. I'm just thinking the most absurd thing. What's what's the 1416 01:34:20,640 --> 01:34:25,640 thing I just like in a motion in the world. Probably Brussels sprouts and 1417 01:34:25,640 --> 01:34:29,319 then maybe onions and tomatoes, so hey, put some unions and tomatoes on 1418 01:34:29,359 --> 01:34:32,560 the brussels. Probably wrap a minute to see if I could actually actually tolerated. 1419 01:34:32,840 --> 01:34:38,159 You know, most of us have a Logitech equipment at some point, 1420 01:34:38,279 --> 01:34:41,119 or have it now, or have had it in our house that they make 1421 01:34:41,159 --> 01:34:45,119 the keyboards and the mouth stuff. That's a I don't think it's mostes. 1422 01:34:45,119 --> 01:34:49,279 I think it's a mice. Thought of that with a computer mouse. Yeah, 1423 01:34:49,279 --> 01:34:53,279 you can kind of feeling in for your dad there. I used to 1424 01:34:53,279 --> 01:34:57,159 teach him about his diction and he's got to make up for it. A 1425 01:34:57,159 --> 01:35:00,800 lot of fun to have around. Um. This other should dropped ten percent 1426 01:35:00,840 --> 01:35:03,880 on Wednesday. Their new CEO is leaving for an outside of company and they 1427 01:35:03,960 --> 01:35:09,760 just actually got the brand new early got in there and Charity kicking the tires 1428 01:35:09,760 --> 01:35:12,359 and going and I don't think, what's the company he's moving to. It 1429 01:35:12,399 --> 01:35:16,199 didn't jealous. It was an out was an outside company that prompted City Group 1430 01:35:16,239 --> 01:35:21,000 to downgrade the stock I Robot. I robot jumped. On Friday twenty, 1431 01:35:21,279 --> 01:35:27,439 European regulators approved Amazon's attempt to acquire that company. I Robot is the maker 1432 01:35:27,479 --> 01:35:30,439 of roomba. Yeah, the room. That was a great company during twenty 1433 01:35:30,479 --> 01:35:33,720 twenty during the pandemic. Oh yeah, they were off the charts and then 1434 01:35:33,720 --> 01:35:38,560 they pulled back a lot. But yeah, they finally let Amazon. They 1435 01:35:38,640 --> 01:35:42,039 gave Amazon the go ahead, which is all it needed, and they got 1436 01:35:42,039 --> 01:35:45,319 the go ahead, and there there. I guess, you know, Amazon's 1437 01:35:45,399 --> 01:35:48,399 got so much extra cash. I'm not sure what they're thinking they're gonna do 1438 01:35:48,520 --> 01:35:53,840 with that. Make it their own. I guess on the Amazon they make 1439 01:35:53,840 --> 01:35:56,000 it cheaper and they'll sell more, because I'll buy a room if it's cheaper. 1440 01:35:56,119 --> 01:35:59,319 I'm not paying five hundred dollars for the roombo Thursday morning, I ordered 1441 01:35:59,399 --> 01:36:01,119 something my wife if asked me to order on Amazon, and when we got 1442 01:36:01,119 --> 01:36:05,960 home Thursday afternoon was sitting there and my wife. My wife goes, we're 1443 01:36:06,000 --> 01:36:10,439 gonna have to find somebody else. These guys are really sloughing off on delivery. 1444 01:36:10,560 --> 01:36:13,800 I mean, it's just mind boggling. Anyway, we appreciate you listening 1445 01:36:13,800 --> 01:36:15,720 to us, just the two of us, and next week it'll be just 1446 01:36:15,760 --> 01:36:18,119 the tow us, but it'll be a different two of us, and we'll 1447 01:36:18,159 --> 01:36:21,760 probably have Jonathan on next week and maybe have some guests. And again we 1448 01:36:21,800 --> 01:36:26,239 appreciate you taking time out of your Father's Day Sunday morning to listen to us. 1449 01:36:26,720 --> 01:36:30,720 We'll be back next week. We all want to be happy and we 1450 01:36:30,960 --> 01:36:33,159 all want to be healthy, but a Greenberg financial what we're trying to be 1451 01:36:33,399 --> 01:36:38,520 is profitable next week. Say it's all