June 29, 2025

Market All-Time Highs, Trump Moves, and AI: Breaking Down a Wild Financial Week

Market All-Time Highs, Trump Moves, and AI: Breaking Down a Wild Financial Week
The player is loading ...
Market All-Time Highs, Trump Moves, and AI: Breaking Down a Wild Financial Week
Market All-Time Highs, Trump Moves, and AI: Breaking Down a Wild Financial Week
Apple Podcasts podcast player badge
RSS Feed podcast player badge
Spotify podcast player badge
Amazon Music podcast player badge
Apple Podcasts podcast player icon RSS Feed podcast player icon Spotify podcast player icon Amazon Music podcast player icon

This week on the Money Matter Show, Dave Sherwood, Todd Glick Jr., and Sebastian Borsini unpack the market’s record highs fueled by “Trumptimism,” despite global unrest. From Apple, Tesla, and Nvidia’s latest moves to Roth 401ks, FOMO investing, and Tucson’s real estate scene, the team covers what matters most to investors. Plus, a look at AI’s impact on the S&P 500 and why Visa and Mastercard are eyeing stablecoins. Tune in for sharp insights, smart planning tips, and a touch of Tucson flavor—only from Greenberg Financial Group.

WEBVTT

1
00:00:00.200 --> 00:00:03.359
Good morning. It's Sunday morning, June twenty ninth, in the desert.

2
00:00:03.399 --> 00:00:05.440
This is the Money Matters Show, with a chance of

3
00:00:05.519 --> 00:00:10.240
rain every day starting tomorrow, said Dave Sherwood. I'm here

4
00:00:10.240 --> 00:00:13.400
with Todd click Junior, or here with Sebastian Borsini, because

5
00:00:13.560 --> 00:00:16.800
Todd the monsoon season is starting now. I've lived here longer.

6
00:00:17.039 --> 00:00:20.000
I've lived here actually twice as long as either of

7
00:00:20.039 --> 00:00:22.199
you have been on Earth, so I know a little

8
00:00:22.199 --> 00:00:26.079
bit about this place. And several years ago somebody decided

9
00:00:26.079 --> 00:00:29.640
that the monsoon season started June fifteenth, which is bunk.

10
00:00:29.960 --> 00:00:33.280
Unless you live in Albuquerque. Monsoon season does not start

11
00:00:33.359 --> 00:00:36.000
during fifteenth. If you're new to Tucson, you've been hearing

12
00:00:36.039 --> 00:00:39.799
this relaxed. It's not true. The average number of rainy

13
00:00:39.880 --> 00:00:44.320
days in June historically one, so obviously the monsoon does

14
00:00:44.399 --> 00:00:47.759
not start June fifteenth. I don't know who came up

15
00:00:47.799 --> 00:00:49.719
with that, but it's been recent, like within the last

16
00:00:49.759 --> 00:00:53.679
few years. Monsoon season starts to July first, really kicks

17
00:00:53.719 --> 00:00:55.880
off on July fourth, that's kind of the and it

18
00:00:55.920 --> 00:00:58.640
doesn't last till September fifteenth, typically a last helth the

19
00:00:58.719 --> 00:01:00.759
end of August. Ready for them, and we are so

20
00:01:00.880 --> 00:01:04.159
desperate for rain that we hope God's miles on our

21
00:01:04.200 --> 00:01:08.640
state over the next sixty days and brings us the normal. Well,

22
00:01:08.840 --> 00:01:10.959
how about this two and a half inches is the normal?

23
00:01:11.079 --> 00:01:12.560
How about he brings us three and a half or

24
00:01:12.599 --> 00:01:15.680
four inches. We certainly could, we certainly could use the rain.

25
00:01:15.760 --> 00:01:18.760
Well, we've been raining money too in the markets.

26
00:01:18.439 --> 00:01:20.760
Been raining money, and that, you know. I always looking

27
00:01:21.040 --> 00:01:23.480
to see what the big headline for the week was. Man,

28
00:01:23.640 --> 00:01:28.359
was this easy. I'm sitting Saturday afternoon playing soccer with

29
00:01:28.400 --> 00:01:32.599
my grandson with his soccer games, indoor soccer game, a

30
00:01:32.640 --> 00:01:36.599
little warm outside, and I see on the news newsflash,

31
00:01:36.760 --> 00:01:40.280
Trump drops the bombs on Irun. I go, oh, my goodness,

32
00:01:40.680 --> 00:01:42.680
this is not going to be good. This is I

33
00:01:42.680 --> 00:01:44.480
don't know what's going to happen next week. I don't

34
00:01:44.519 --> 00:01:47.680
know what the mark is doing. I thought, Sunday afternoon,

35
00:01:47.680 --> 00:01:50.400
the futures start to trade around three o'clock our time.

36
00:01:50.799 --> 00:01:54.040
I thought down probably one thousand, maybe fifteen hundred.

37
00:01:54.079 --> 00:01:56.120
They were done, what three hundred points, one hundred.

38
00:01:55.879 --> 00:01:59.439
Points, Yeah, they were down one hundred points, And I thought, okay,

39
00:01:59.480 --> 00:02:02.239
so what's going on here? Well, what's going on here?

40
00:02:02.400 --> 00:02:05.120
Is that there was little or no retaliation. I think

41
00:02:05.159 --> 00:02:07.480
I ran shout off six missiles. Somebody said that they

42
00:02:07.519 --> 00:02:09.280
called let us know they're going to do it. I

43
00:02:09.520 --> 00:02:10.560
don't know that's true or not, but.

44
00:02:10.599 --> 00:02:11.879
Yeah on the bassin guitar.

45
00:02:12.199 --> 00:02:14.919
Yeah, yeah. You can't believe the news. So if the

46
00:02:14.960 --> 00:02:17.840
news says something happen, you'd have to double check it about.

47
00:02:17.719 --> 00:02:19.919
Well, yeah, they said that they told them to limit

48
00:02:19.960 --> 00:02:23.719
civilian civilian casualties. Was the idea, Yeah, well it was

49
00:02:23.759 --> 00:02:25.319
a it was a nothing burger and.

50
00:02:25.319 --> 00:02:29.280
Yeah, we just to say faith right, and and no

51
00:02:29.400 --> 00:02:32.560
other countries responded, and it so it appeared to the

52
00:02:32.599 --> 00:02:35.080
market that hey, this is this is good. Here we

53
00:02:35.120 --> 00:02:38.719
go and let's get some trade deals. And I ran

54
00:02:38.879 --> 00:02:41.439
not going to have nuclear and uh, the world's going

55
00:02:41.479 --> 00:02:43.919
to be a sunny place and let's get it on here.

56
00:02:44.000 --> 00:02:46.919
And I think with oil, you see oil oil collapsed

57
00:02:47.240 --> 00:02:48.199
down ten bucks.

58
00:02:48.439 --> 00:02:51.360
I mean, that's a crazy collapse because it lost pretty

59
00:02:51.400 --> 00:02:54.120
much everything that had gained the several three weeks before

60
00:02:54.199 --> 00:02:55.319
leading up to the conflict.

61
00:02:55.599 --> 00:02:58.240
And that was literally an hour after Goldman. Sachs says,

62
00:02:58.319 --> 00:03:01.120
if I ran closed the trader from which essentially would

63
00:03:01.120 --> 00:03:03.759
cut off their income, they have nothing else they would

64
00:03:03.800 --> 00:03:05.719
also cut off their income. So they're not going to

65
00:03:05.800 --> 00:03:07.639
do that. But Goldman Sachs said, if they do that,

66
00:03:07.759 --> 00:03:10.599
while I was going to one hundred dollars literally an

67
00:03:10.639 --> 00:03:15.759
hour before it collapsed. So another great call. Seems like

68
00:03:16.039 --> 00:03:18.680
the entire world, with the exception of the Congressional Democrats,

69
00:03:18.719 --> 00:03:23.639
are on board with this action. And we all know Iran,

70
00:03:23.960 --> 00:03:26.159
we all know this isn't over right.

71
00:03:26.199 --> 00:03:28.400
Well, I didn't understand because they said that there was

72
00:03:28.439 --> 00:03:30.240
going to be a ceasefire, and then the next morning

73
00:03:30.360 --> 00:03:33.360
Israel head shut off a couple of missiles.

74
00:03:33.360 --> 00:03:36.840
Now, a part of any ceasefire is the timing of it.

75
00:03:36.919 --> 00:03:39.919
And when you have a ceasefire, normally happens after the

76
00:03:40.039 --> 00:03:42.840
night closes, because the next day, when daytime breaks, you

77
00:03:42.840 --> 00:03:44.919
don't have as much shooting. Most of the shooting happens

78
00:03:44.919 --> 00:03:47.439
at night. So you would say the ceasefire ends at

79
00:03:47.639 --> 00:03:50.520
twelve that night. Well Trump didn't like that. You know,

80
00:03:50.599 --> 00:03:52.599
probably three in the morning, four in the morning whatever.

81
00:03:52.879 --> 00:03:56.479
Israel did a lot of bombing Iran, assuming they did

82
00:03:56.520 --> 00:03:58.960
a couple two or whatever. By the end of that

83
00:03:59.080 --> 00:04:02.280
day there was no more retaliation or anything. So the ceasefire,

84
00:04:02.280 --> 00:04:04.400
as far as I'm aware, is still in effact. It

85
00:04:04.520 --> 00:04:07.840
is strong. It's just the fact that it is kind

86
00:04:07.840 --> 00:04:10.360
of tricky of when exactly a ceasefire is going to

87
00:04:10.479 --> 00:04:15.560
take place, because especially with Iran, their entire military communication

88
00:04:15.680 --> 00:04:18.800
network was absolutely obliterated. So how do you communicate to

89
00:04:18.879 --> 00:04:21.319
someone in a cave somewhere that they're not fighting the

90
00:04:21.360 --> 00:04:22.160
Israels anymore?

91
00:04:22.720 --> 00:04:22.879
Right?

92
00:04:22.920 --> 00:04:24.600
I mean, it takes a while to get that message

93
00:04:24.600 --> 00:04:27.120
spread if you don't have a network, and we know

94
00:04:27.199 --> 00:04:28.600
that it's already been compromised.

95
00:04:29.160 --> 00:04:32.720
I think the deadline was six hours after Trump announced

96
00:04:32.720 --> 00:04:35.759
the ceasefire in Israel. Took that six hours download everything

97
00:04:35.759 --> 00:04:39.120
they had on Iran, which is good, which I know.

98
00:04:39.319 --> 00:04:42.439
I understand that these folks are not going to be trusted.

99
00:04:42.879 --> 00:04:46.800
They've never been trustworthy. They've never held up to any

100
00:04:46.839 --> 00:04:49.839
agreement they've ever made. And it's sad because you go

101
00:04:49.920 --> 00:04:51.959
back to the seventies Iran and was a real friend

102
00:04:52.000 --> 00:04:52.399
of the unit.

103
00:04:52.680 --> 00:04:54.560
You still have Iran out there saying that they want

104
00:04:54.600 --> 00:04:57.000
to continue their nuclear process.

105
00:04:57.720 --> 00:05:00.000
Well yeah, they know they still want that, and they

106
00:05:00.079 --> 00:05:05.120
want jihad, you know, which essentially is defending the Muslim

107
00:05:05.160 --> 00:05:12.000
faith against others. Right at war with that said, if

108
00:05:12.040 --> 00:05:16.800
this does, if this action will actually make Iran come

109
00:05:16.879 --> 00:05:19.639
back to the nineteen seventies, which is when they were

110
00:05:19.639 --> 00:05:22.920
a friend of the United States and a powerhouse in commerce,

111
00:05:23.399 --> 00:05:25.879
If that will take them out of the fifteen hundreds

112
00:05:26.240 --> 00:05:29.519
and bring them into the you know, into the twenty

113
00:05:29.519 --> 00:05:33.279
first century, the Middle East could be a really different place.

114
00:05:33.759 --> 00:05:35.480
And the way the media is trying to spin this

115
00:05:35.920 --> 00:05:39.759
as it being unsuccessful, it's really disgusting. I mean, if

116
00:05:39.800 --> 00:05:42.000
you really look at the fact that the one leaked

117
00:05:42.160 --> 00:05:45.480
material that came out of the Department of Defense was

118
00:05:45.519 --> 00:05:48.399
not a completed article. I mean the way that works

119
00:05:48.480 --> 00:05:50.759
is it goes up the chain of command to get

120
00:05:50.759 --> 00:05:54.240
confirmation that it is done, and it was a half

121
00:05:54.279 --> 00:05:57.040
done report that said that it did not do as

122
00:05:57.079 --> 00:06:00.079
much damage as Trump said. Trump originally said, we totally

123
00:06:00.120 --> 00:06:04.120
obliterated their program set the back years, if not completely.

124
00:06:04.199 --> 00:06:06.000
That's because everything that he does is wrong.

125
00:06:06.199 --> 00:06:08.000
Well, and efforts are underway to find the person to

126
00:06:08.079 --> 00:06:10.759
leak that, and it's a criminal it's a criminal's case

127
00:06:11.399 --> 00:06:13.120
if they can find that person. And then of course

128
00:06:13.399 --> 00:06:16.199
CNN ran with it because they do everything they can

129
00:06:16.360 --> 00:06:19.519
to Trump, so they and his mission.

130
00:06:19.360 --> 00:06:22.199
Is incredible what they did. I mean, the B two bombers,

131
00:06:22.199 --> 00:06:25.399
if people don't know what they are, just incredible feats

132
00:06:25.399 --> 00:06:28.199
of engineering. But then on top of that, you have

133
00:06:28.240 --> 00:06:30.839
a bomb that goes two hundred feet into the ground

134
00:06:30.879 --> 00:06:32.519
before exploding and then explodes.

135
00:06:32.800 --> 00:06:33.839
And they got six of those?

136
00:06:33.920 --> 00:06:35.040
How you do how you got six?

137
00:06:36.800 --> 00:06:38.639
Got six of those? Now, how's that gonna work out?

138
00:06:38.720 --> 00:06:41.519
And I believe what if I read correctly, the B

139
00:06:41.600 --> 00:06:44.079
two bomber took off somewhere in like Missouri.

140
00:06:43.800 --> 00:06:48.120
Missouri, Missouri, thirty two hour round trip, like thirty two

141
00:06:48.160 --> 00:06:51.480
hour round trip, flew from Missouri to Iran, dropped six

142
00:06:51.560 --> 00:06:53.920
bunk or buster bombs and then return of Missouri. Is

143
00:06:53.959 --> 00:06:57.560
that amazing? I mean that's just mind boggling. Yeah, for

144
00:06:57.639 --> 00:06:59.519
our military, right for all for.

145
00:06:59.439 --> 00:07:01.560
All the listeners. If you haven't yet seen how that

146
00:07:01.600 --> 00:07:04.399
bunker buster bomb works, I highly recommends you go on

147
00:07:04.439 --> 00:07:07.519
YouTube and search bunker buster bomb. It's really neat.

148
00:07:07.839 --> 00:07:11.199
Yeah. And if you look at you know, hegseeth the secretary.

149
00:07:11.199 --> 00:07:14.759
He was really defending the fact that this was the

150
00:07:14.839 --> 00:07:17.720
Leads report and what they have the intelligence as say

151
00:07:17.759 --> 00:07:19.680
that they were set back years.

152
00:07:19.920 --> 00:07:22.560
All right, If you if you're not on board with this,

153
00:07:23.480 --> 00:07:27.160
at least to the extent of great job. Something's wrong

154
00:07:27.199 --> 00:07:29.920
with you. Because it was a great job. Our military

155
00:07:30.120 --> 00:07:33.360
just performed beautifully. And to be able to fly from

156
00:07:33.360 --> 00:07:36.399
Missouri to I ran and drop those things down a shaft,

157
00:07:36.399 --> 00:07:39.639
are you kidding me? From fifteen thousand feet? It's just

158
00:07:39.720 --> 00:07:40.680
so darn impressive.

159
00:07:40.720 --> 00:07:42.519
And I feel like you compare that to the fact

160
00:07:42.560 --> 00:07:46.519
that the previous administration, instead of solving the nuclear problem,

161
00:07:46.519 --> 00:07:50.759
they're giving millions and millions of dollars for safe sex.

162
00:07:50.720 --> 00:07:55.199
Billions for millions of dollars, safe sex, safe millions of

163
00:07:55.240 --> 00:07:57.800
dollars too. I ran to to to get them to

164
00:07:57.800 --> 00:08:00.120
come to the table, and Israel said, you know, well,

165
00:08:00.160 --> 00:08:02.879
we've had enough. We've been doing this for twenty years.

166
00:08:03.000 --> 00:08:05.000
Let's kill and the Trump comes in and ends.

167
00:08:05.160 --> 00:08:07.560
Trump comes in, Well, let me put the exclamation point

168
00:08:07.600 --> 00:08:11.399
on it. And it's just a very impressive job by.

169
00:08:11.360 --> 00:08:13.439
Twelve days to have a war end in twelve days.

170
00:08:13.680 --> 00:08:17.600
Yeah, Well, it's typical Israel. It's kind of out of

171
00:08:17.600 --> 00:08:18.160
our wards. Go.

172
00:08:18.360 --> 00:08:21.120
Something I actually found out about this week the genocide

173
00:08:21.120 --> 00:08:23.519
going on in the Congo that was also put to

174
00:08:23.560 --> 00:08:27.040
an ends through Trump's policy and still working on.

175
00:08:27.120 --> 00:08:29.480
I don't know if it's technically at an end. Yeah,

176
00:08:29.519 --> 00:08:31.399
because it's gone. It's been going on since the night,

177
00:08:31.560 --> 00:08:31.920
I mean.

178
00:08:31.879 --> 00:08:36.000
Is right regardless, there's there's action that's been taken.

179
00:08:36.039 --> 00:08:39.240
Finally, yeah, right, Well you heard the Trump piece peace

180
00:08:39.279 --> 00:08:43.240
through strength, and I will guarantee you that the United

181
00:08:43.279 --> 00:08:46.480
States enemies, whether it be Russia or China or North

182
00:08:46.519 --> 00:08:51.759
Korea or whoever. I observed what happened and went, oh wow.

183
00:08:52.159 --> 00:08:55.200
I love what Trump said too. He said, uh, you know,

184
00:08:55.840 --> 00:08:58.320
Putin called him and said we can broke her a

185
00:08:58.360 --> 00:09:01.480
peace deal with between on in Israel, and he said,

186
00:09:01.600 --> 00:09:03.519
I don't need you to broker a piece to between Israel,

187
00:09:03.600 --> 00:09:05.799
raw I needs your broker a piece between you and Ukraine.

188
00:09:06.399 --> 00:09:06.559
You know.

189
00:09:06.559 --> 00:09:08.879
It turned it back on him to say, no, you

190
00:09:08.879 --> 00:09:10.799
have your own war. You need to solve this.

191
00:09:11.000 --> 00:09:13.159
I want to heard Trump say on Thursday that I

192
00:09:13.240 --> 00:09:14.720
ran wanted to talk to that. I want to talk

193
00:09:14.720 --> 00:09:16.559
to him. I got to talk about I don't how

194
00:09:16.600 --> 00:09:19.039
want a deal. We're done, you know, And I think

195
00:09:19.080 --> 00:09:22.720
that's that's really way. I think we all agree props

196
00:09:22.759 --> 00:09:23.840
to our military props.

197
00:09:24.120 --> 00:09:26.120
And also a really good job of him saying we're

198
00:09:26.120 --> 00:09:27.720
going to have a two week window to make a

199
00:09:27.759 --> 00:09:30.720
decision and then taking only two days because that was

200
00:09:31.720 --> 00:09:33.799
you know, the smoke and mirrors. I mean, as a

201
00:09:33.840 --> 00:09:37.440
commander in chief especially, and everything is so public these days,

202
00:09:37.440 --> 00:09:39.960
how do you have a secret operation? It's a very

203
00:09:39.960 --> 00:09:41.240
well done that.

204
00:09:41.399 --> 00:09:43.840
And then, of course on Friday was a Thursday afternoon

205
00:09:43.840 --> 00:09:46.559
of Friday, the trade deal with China, which your fears

206
00:09:46.600 --> 00:09:50.159
to be a real trade deal. The market did sell

207
00:09:50.200 --> 00:09:54.679
off briefly Friday afternoon after Canada in the US suspended

208
00:09:54.720 --> 00:09:57.320
trade talk. But that's Trump, That's the way he operates.

209
00:09:57.480 --> 00:09:59.480
Do you want to do that? Okay, fine, we're done. Yeah.

210
00:09:59.519 --> 00:10:01.440
And then the Mark we don't need right back at

211
00:10:01.440 --> 00:10:02.080
the end of the day.

212
00:10:02.120 --> 00:10:03.840
We don't need you. If you were a state, you'd

213
00:10:03.840 --> 00:10:07.159
be the number four state, you know, stop it and

214
00:10:07.639 --> 00:10:09.279
bounce right back at the end of the day. Because

215
00:10:09.279 --> 00:10:11.200
they know that something will come out of this.

216
00:10:11.559 --> 00:10:13.120
I mean, the only thing you could say for sure

217
00:10:13.200 --> 00:10:16.879
is probably lumber that they could squeeze us for. Yeah,

218
00:10:16.919 --> 00:10:18.639
but I mean I don't think we get a lot

219
00:10:18.639 --> 00:10:20.720
of oil necessarily from them either.

220
00:10:20.759 --> 00:10:24.120
Now they do have rare earth minerals in Canada. They

221
00:10:24.120 --> 00:10:26.759
could help us certainly they can do some things for us,

222
00:10:26.759 --> 00:10:30.200
but I mean, we were the eight hundred pound guerrilla. Certainly,

223
00:10:30.200 --> 00:10:33.639
I'm in North America, and uh, that's just the way

224
00:10:33.679 --> 00:10:36.159
Trump negotiates, and Okay, fine, I walk away.

225
00:10:36.840 --> 00:10:38.679
And it's really interesting what they're going to do with Mexico.

226
00:10:38.679 --> 00:10:40.799
I was just talking with a client this week about

227
00:10:40.799 --> 00:10:44.279
how a lot of you know, operations that they do

228
00:10:44.360 --> 00:10:47.360
in Mexico are so well incentivized that they'll have like

229
00:10:47.480 --> 00:10:51.120
daycares for the people. And even though they're providing all

230
00:10:51.120 --> 00:10:53.799
these extra incentives to make sure people show up to work,

231
00:10:53.840 --> 00:10:56.559
it's way cheaper than having to pay a union in

232
00:10:56.639 --> 00:11:00.720
Ohio or minimum wage to an American worker. So I'm

233
00:11:00.799 --> 00:11:02.879
really curious to see how Trump's going to get around

234
00:11:02.879 --> 00:11:05.759
that problem, or whether he's just going to go near

235
00:11:05.799 --> 00:11:07.480
shoring instead of complete on shoring.

236
00:11:08.600 --> 00:11:10.240
New all time high for the S and P five,

237
00:11:10.639 --> 00:11:13.759
new all time high for the NASDAQ one hundred last week.

238
00:11:13.840 --> 00:11:18.360
Never been this high. A lot of enthusiasm. I'm calling it,

239
00:11:18.720 --> 00:11:21.600
a lot of optimism, which I'm calling trumptimism. We've been

240
00:11:21.679 --> 00:11:24.000
using that term. I think that's probably very true. It's

241
00:11:24.000 --> 00:11:27.240
not so much optimism as trumptimism. You feel confident that

242
00:11:27.320 --> 00:11:29.559
this guy's going to get the job done, whether it

243
00:11:29.559 --> 00:11:31.799
be Iran, or whether it be the trade deals, or

244
00:11:31.840 --> 00:11:32.919
whether it be the economy.

245
00:11:33.080 --> 00:11:35.240
And I think what also though you see is the

246
00:11:35.279 --> 00:11:39.360
AI revolution, right, I mean this AI revolution through this war.

247
00:11:40.240 --> 00:11:43.120
It's like every time there was a conclusion of some

248
00:11:43.480 --> 00:11:46.000
part of the war, the market just kept going higher.

249
00:11:46.200 --> 00:11:48.080
And now we are higher than where we were before

250
00:11:48.080 --> 00:11:52.200
we had any of these tariffs, which seems a little counterintuitive, right,

251
00:11:52.200 --> 00:11:54.320
you would have said, if you add terriffs, doesn't that

252
00:11:54.399 --> 00:11:56.120
slow down growth at some point?

253
00:11:56.200 --> 00:11:59.840
It certainly raisious prices. It's gonna you can talk all

254
00:11:59.879 --> 00:12:01.320
you want about how it's not going to raise it's

255
00:12:01.320 --> 00:12:02.159
going to raise prices.

256
00:12:02.320 --> 00:12:03.679
It's just to lead from the short term.

257
00:12:03.720 --> 00:12:05.120
We know that it's going to be a tax on

258
00:12:05.159 --> 00:12:07.200
the American people that's going to go straight to the

259
00:12:07.240 --> 00:12:08.720
budget deficittion.

260
00:12:08.519 --> 00:12:10.679
Right, and which inevitably slows growth.

261
00:12:11.080 --> 00:12:13.039
Yeah, you would think it would have to so on

262
00:12:13.080 --> 00:12:13.360
I think.

263
00:12:13.360 --> 00:12:15.240
But on the other side of that sloyal growth, we

264
00:12:15.279 --> 00:12:17.440
have the AIA. So it's like we have this like

265
00:12:17.480 --> 00:12:21.000
two edged sword where AI the hope is it's going

266
00:12:21.039 --> 00:12:24.759
to grow, so much right, and we see this Navidia

267
00:12:25.159 --> 00:12:28.240
back to all all time most valuable company right now,

268
00:12:28.960 --> 00:12:32.120
well over three trillion dollars got over Microsoft. Even though

269
00:12:32.159 --> 00:12:33.840
Microsoft hit a new all time high as.

270
00:12:33.759 --> 00:12:35.519
Well, they hit five hundred this week. Did they close

271
00:12:35.519 --> 00:12:37.000
over five hundred Microsoft?

272
00:12:37.279 --> 00:12:40.679
I believe, so Microsoft knew all time high. I mean,

273
00:12:40.720 --> 00:12:44.320
we got many companies, the Max seven are doing very well,

274
00:12:44.440 --> 00:12:47.320
very well, except for the Tesla and Apple.

275
00:12:47.919 --> 00:12:51.919
Yeah. Yeah, Tesla just continues to be a mystery to me.

276
00:12:52.000 --> 00:12:54.720
It was up ten percent on Monday after they rolled

277
00:12:54.720 --> 00:12:59.879
out that robotaxi in Austin over the weekend. But by Monday,

278
00:13:00.279 --> 00:13:02.399
uh and Dan ives. By the way, Dan ives, he's

279
00:13:02.440 --> 00:13:04.120
a noted analyst. He took a ride in and he

280
00:13:04.159 --> 00:13:09.320
said it exceeded his expectations. Even Tesla baar ubs raised

281
00:13:09.320 --> 00:13:12.279
their price target from one ninety to two fifteen. Now

282
00:13:12.480 --> 00:13:14.879
never mind the stock with a three forty when they

283
00:13:14.919 --> 00:13:16.840
did that, So I went from one ninety to two

284
00:13:16.919 --> 00:13:19.120
fifteen of the stock at three forty. But on Monday,

285
00:13:19.120 --> 00:13:23.240
Tesla also was contacted by the National Highway Traffic Safety

286
00:13:23.240 --> 00:13:27.600
Administration after videos were posted on social media showing the

287
00:13:27.600 --> 00:13:31.559
company's robotax and driving erratically, including going down the wrong

288
00:13:31.600 --> 00:13:32.600
way down to one Way Street.

289
00:13:32.679 --> 00:13:35.039
Oh no, did you have any more details on that,

290
00:13:35.080 --> 00:13:37.120
because Todd was saying earlier this week that all those

291
00:13:37.120 --> 00:13:39.799
cars had drivers in him or maybe not all of them,

292
00:13:39.799 --> 00:13:41.240
but yeah, good amount of them.

293
00:13:41.399 --> 00:13:43.720
The reports I was reading that, well, I think only

294
00:13:43.799 --> 00:13:45.159
twenty were actually released.

295
00:13:45.759 --> 00:13:48.120
I didn't think there were that many, but there could

296
00:13:48.159 --> 00:13:50.399
have been. Yeah. But but just but you know, if

297
00:13:50.399 --> 00:13:53.240
you if you're not Waymo, I mean Wayno's been doing

298
00:13:53.279 --> 00:13:55.120
this for five years, Todd, and they've got it down.

299
00:13:55.279 --> 00:13:56.919
I mean, you see him around Photex. You don't even

300
00:13:56.919 --> 00:13:58.360
think about him. No, you don't eve give him a

301
00:13:58.399 --> 00:14:00.679
second thought. No, you don't worry about him.

302
00:14:01.000 --> 00:14:02.639
I'm sure other people do. I think we say that

303
00:14:02.639 --> 00:14:04.000
because we're so close to Phoenix.

304
00:14:04.080 --> 00:14:06.639
Yeah, I mean there was a friend coming from Pennsylvania

305
00:14:06.799 --> 00:14:09.000
that came to Phoenix and they saw the way Mos

306
00:14:09.039 --> 00:14:11.000
for the first time and they're like, there's no driver.

307
00:14:11.480 --> 00:14:13.279
What do you mean there's no driver in that car?

308
00:14:13.440 --> 00:14:13.679
Right?

309
00:14:13.720 --> 00:14:15.399
And they're like, what are all those things on the

310
00:14:15.639 --> 00:14:18.519
So we definitely have gotten used to it, but from

311
00:14:18.519 --> 00:14:21.960
the outsiders, and that's because of Phoenix having that Sandbox

312
00:14:22.279 --> 00:14:25.000
Act that allows the Waymo and Cruise and some of

313
00:14:25.000 --> 00:14:29.320
those self driving vehicles to take a bigger leap forward

314
00:14:29.960 --> 00:14:32.039
without the regulation red tape around it.

315
00:14:32.559 --> 00:14:36.799
Now. No, no, Not only did the debut of the Robotaxi

316
00:14:36.919 --> 00:14:41.639
not go terribly smoothly according to social media, but they

317
00:14:41.679 --> 00:14:45.279
also got a report last week that their European sales

318
00:14:45.320 --> 00:14:49.639
declined for a fifth straight month, down twenty eight percent

319
00:14:49.720 --> 00:14:53.080
versus last May, as Europeans seem to be turned off

320
00:14:53.120 --> 00:14:56.279
by Musk and they're moving towards Chinese vehicles. Yeah, and

321
00:14:56.360 --> 00:14:56.879
that's crazy.

322
00:14:56.960 --> 00:15:01.559
Did you also see he fired his head of manufacturer. Yeah, yes, yes,

323
00:15:01.639 --> 00:15:02.879
which is an interesting move.

324
00:15:03.159 --> 00:15:05.879
A close guy, a close associate, I mean, he was

325
00:15:05.919 --> 00:15:06.879
an important.

326
00:15:06.440 --> 00:15:08.879
Guy, right and not just like let go. It's like fire.

327
00:15:09.000 --> 00:15:11.279
So there's definitely some type of strife there.

328
00:15:11.399 --> 00:15:13.720
And let's hope it was some personal thing he did.

329
00:15:14.200 --> 00:15:17.120
Let's hope he was messing with the wrong gall or

330
00:15:17.120 --> 00:15:20.200
something that wasn't just Trump being or must be a Musk.

331
00:15:21.000 --> 00:15:26.320
Yeah, you know, but he was huh, it's a big

332
00:15:26.320 --> 00:15:27.080
position of fire.

333
00:15:27.159 --> 00:15:29.200
Well, he was also involved in space X. He was

334
00:15:29.200 --> 00:15:31.720
brought down to space X to help moskeet. Oh you know,

335
00:15:31.799 --> 00:15:34.639
he was worked very closely. This was a close associate.

336
00:15:35.200 --> 00:15:37.240
So the only thing I can, of course, if you

337
00:15:37.840 --> 00:15:41.080
if it was some egregious thing, some violation of company

338
00:15:41.120 --> 00:15:43.399
ethics or whatever, you think, he would be allowed to

339
00:15:43.440 --> 00:15:47.840
resign right right, as opposed to getting fired right And

340
00:15:47.840 --> 00:15:50.799
and can you be fired because your sales are plummeting

341
00:15:50.960 --> 00:15:55.960
because you alienated Europe with your behavior in Washington?

342
00:15:56.679 --> 00:16:01.120
Not his fault, right, you know, interesting move out of Tesla,

343
00:16:01.200 --> 00:16:04.320
and that that company continues to stay overvalued as much

344
00:16:04.320 --> 00:16:07.240
as it has this beautiful future of the robots. I

345
00:16:07.240 --> 00:16:09.279
mean it kind of is already trading with that priced in.

346
00:16:09.879 --> 00:16:14.600
It's it's arguably extremely expensive stock, not an attractive stock.

347
00:16:15.440 --> 00:16:19.360
And uh, they're they're they're banking on the ROBOTAXI, which

348
00:16:19.559 --> 00:16:21.200
so far has been kind of a little bit of

349
00:16:21.200 --> 00:16:21.759
a problem.

350
00:16:22.080 --> 00:16:24.240
And what I also saw this week on CNBC was

351
00:16:24.240 --> 00:16:28.519
a fun would you rather question? Was uh uh Google?

352
00:16:30.159 --> 00:16:30.320
Uh?

353
00:16:30.600 --> 00:16:31.840
Microsoft or Apple?

354
00:16:32.639 --> 00:16:38.320
Sure what you're gonna? Yeah? I like Apple. I think

355
00:16:38.399 --> 00:16:40.799
it's just I think the potential for Apple is is

356
00:16:41.159 --> 00:16:45.639
pretty significant, but potential significant for all those companies. Google.

357
00:16:46.080 --> 00:16:49.480
Yeah, I'm thinking Google myself. I just the problem with

358
00:16:49.559 --> 00:16:54.080
Apple for me is the long term market share of

359
00:16:54.120 --> 00:16:57.799
their phones. They have a real competition with AI wearables

360
00:16:58.120 --> 00:16:59.200
in my opinion.

361
00:17:00.080 --> 00:17:04.079
Uh, potentially, I was I was at a restaurant the night.

362
00:17:04.119 --> 00:17:05.880
You talk about the glasses and stuff like that.

363
00:17:06.680 --> 00:17:08.759
It might be a glasses, but I'm just saying in general,

364
00:17:08.799 --> 00:17:11.079
there's just so many of those wearables that when they

365
00:17:11.119 --> 00:17:13.920
come to market, I feel like, eventually the phone's not.

366
00:17:13.880 --> 00:17:16.880
Going to be it, right, because remember when phones first

367
00:17:16.920 --> 00:17:18.359
came out, there were a lot bigger than what we're

368
00:17:18.400 --> 00:17:22.519
holding today, the iPhone? Right, will it keep getting smaller

369
00:17:22.519 --> 00:17:23.079
and smaller?

370
00:17:23.240 --> 00:17:23.400
Right?

371
00:17:23.519 --> 00:17:26.599
Is this iPhone here in my pocket? Is it too clunky? Maybe?

372
00:17:26.680 --> 00:17:28.519
Maybe it gets to that point. So what if there

373
00:17:28.559 --> 00:17:30.519
was a contact version of a phone? What if, like

374
00:17:30.599 --> 00:17:33.599
Todd's saying, there's a meta glasses that you put on

375
00:17:33.680 --> 00:17:35.759
and you could do everything that you typically do on

376
00:17:35.799 --> 00:17:37.000
your phone. Three glasses.

377
00:17:37.359 --> 00:17:39.319
Yeah. First of all, I was at I was at

378
00:17:39.359 --> 00:17:43.359
a restaurant a week ago and there were six It

379
00:17:43.440 --> 00:17:44.599
was a little bit four or five. I was a

380
00:17:44.599 --> 00:17:46.720
little early and they had shift had to start yet,

381
00:17:46.759 --> 00:17:48.359
and there were six of the employees, all of the

382
00:17:48.359 --> 00:17:50.920
them I know, sitting around, you know, chat and have

383
00:17:51.039 --> 00:17:53.720
a little snack or whatever, and that this came up.

384
00:17:53.799 --> 00:17:57.279
The glasses came up, The glasses with the Internet functions

385
00:17:57.359 --> 00:17:59.319
all on it came up, and I said, okay, yeah,

386
00:17:59.359 --> 00:18:02.000
six people, all of them under twenty five. Of these

387
00:18:02.079 --> 00:18:05.400
six people, how many of you think that's a great idea?

388
00:18:05.960 --> 00:18:08.680
One the other five said not, yeah, no way.

389
00:18:08.759 --> 00:18:11.400
Well, also ask them how many of them bought bitcoin

390
00:18:11.440 --> 00:18:15.799
in twenty fourteen. I, like most people don't know how

391
00:18:15.839 --> 00:18:18.880
to think in the future. I mean, who would have

392
00:18:18.920 --> 00:18:21.559
thought a computer was why do I need a box

393
00:18:21.599 --> 00:18:22.240
that does something?

394
00:18:22.279 --> 00:18:24.920
I can't imagine anybody over there to forty one glasses

395
00:18:24.920 --> 00:18:27.680
with the Internet screaming across it. I just I don't

396
00:18:27.720 --> 00:18:30.079
get it doesn't appeal to me at all, and it

397
00:18:30.079 --> 00:18:32.240
didn't appeal to five of these six young people.

398
00:18:32.359 --> 00:18:34.880
But I also didn't think that someone your age and

399
00:18:34.920 --> 00:18:37.640
the vast majority people your age could easily work an iPhone.

400
00:18:38.359 --> 00:18:39.599
But we've gotten to that point.

401
00:18:40.240 --> 00:18:42.440
Yeah, Oh, the iPhone is simple.

402
00:18:42.559 --> 00:18:45.960
I mean, well it wasn't always. Yeah, I guess because

403
00:18:45.960 --> 00:18:49.200
the user interface got so easy to use that anyone

404
00:18:49.240 --> 00:18:51.480
can use it. And that's the whole purpose of technology.

405
00:18:51.519 --> 00:18:54.559
It is very complex until you can make it very simple.

406
00:18:55.200 --> 00:18:58.680
And that's the job of Apple. Right, you had a picture,

407
00:18:58.759 --> 00:19:01.759
you had a calculator, you had a contact book, all

408
00:19:02.000 --> 00:19:07.359
merged into one thing. A host of other different use

409
00:19:07.400 --> 00:19:08.640
cases you can use the phone for.

410
00:19:08.880 --> 00:19:13.079
Sometimes we come up with incredible technological advances that nobody wants.

411
00:19:13.359 --> 00:19:15.960
That happens. I mean, you guys will admit that happens. Yeah,

412
00:19:16.000 --> 00:19:18.359
I mean the vision pro Yeah, I think that that

413
00:19:18.440 --> 00:19:21.160
the whole uh, put the glasses, put the headset on,

414
00:19:21.319 --> 00:19:24.680
and and experience this other world, you know, has kind

415
00:19:24.680 --> 00:19:26.160
of other than our cade.

416
00:19:26.200 --> 00:19:28.640
But I don't think that's That's not what these glasses are.

417
00:19:28.640 --> 00:19:30.519
And that's you can't think of those like that. It's

418
00:19:30.799 --> 00:19:33.519
glasses that you're just walking around every day and message

419
00:19:33.559 --> 00:19:35.640
pops up on, you know, the top right corner of

420
00:19:35.640 --> 00:19:36.000
my eye.

421
00:19:36.119 --> 00:19:38.559
I don't want that. I don't I don't need it

422
00:19:38.559 --> 00:19:40.759
to happen on my glasses. Okay, I don't want to

423
00:19:40.799 --> 00:19:43.920
be It's annoying enough already, I don't need it annoying

424
00:19:43.920 --> 00:19:46.960
even further. Anyway, that's a that's for another day. I

425
00:19:47.000 --> 00:19:51.119
think it's uh uh, maybe some technological advance that isn't

426
00:19:51.240 --> 00:19:52.000
going to be that widely.

427
00:19:52.079 --> 00:19:55.279
But my purpose of the Apple debate is saying they

428
00:19:55.319 --> 00:19:58.799
need a new product's cell phone forever, because that's not

429
00:19:58.839 --> 00:20:00.519
going to warrant the growth rate, the training.

430
00:20:00.759 --> 00:20:03.240
They need to buy somebody. They need to buy some

431
00:20:03.759 --> 00:20:07.079
company that's thinking outside the box. That's what they need

432
00:20:07.119 --> 00:20:11.160
to do, uh, to to break this logjam they're in.

433
00:20:11.400 --> 00:20:15.759
We did, however, see on Friday, with the market having

434
00:20:15.839 --> 00:20:18.920
moved so strongly to new all time highs of people

435
00:20:19.000 --> 00:20:23.839
looking for what hasn't moved, and Nike gotta bid, United Healthcare,

436
00:20:23.880 --> 00:20:28.079
gotta bid, Apple, gotta bid. All those stocks perform better

437
00:20:28.079 --> 00:20:31.559
on Friday because we're getting to the point where everything

438
00:20:31.640 --> 00:20:33.440
is either add an all time high or close to

439
00:20:33.480 --> 00:20:35.720
an all time high. So what is there out there

440
00:20:35.920 --> 00:20:39.079
that's a goodbye? And I would I would say this

441
00:20:39.359 --> 00:20:42.200
with a lot of years of experience doing this, this

442
00:20:42.279 --> 00:20:44.960
is not a time to be all in you just

443
00:20:45.160 --> 00:20:47.200
this is. And of course it's not a time to

444
00:20:47.279 --> 00:20:50.359
be out either. It's a time to be cautious. Uh.

445
00:20:50.559 --> 00:20:54.839
Maybe those laggered Dow stocks, the United Healthcare and things.

446
00:20:54.920 --> 00:20:58.039
And let me also say, see if you want to

447
00:20:57.920 --> 00:21:00.720
do the disclaimers go at the end of first.

448
00:21:00.480 --> 00:21:02.839
Assurement sort of thing show a sponsored by the Greenberg

449
00:21:02.880 --> 00:21:05.039
Financial Group, and you can listen on seven ninety KNIST

450
00:21:05.200 --> 00:21:08.359
or iHeartRadio. The show discusses different investment products and strategies,

451
00:21:08.359 --> 00:21:10.480
and every product and strategy have some type of an

452
00:21:10.519 --> 00:21:14.559
inherent risk associated with it, and we strongly encourage you guys,

453
00:21:14.559 --> 00:21:17.480
our listeners, to properly understand this risk to determine whether

454
00:21:17.519 --> 00:21:19.680
to buy, sell, or hold. Show has been on air

455
00:21:19.680 --> 00:21:21.640
for over thirty years and the Greenberg Financial Group is

456
00:21:21.640 --> 00:21:24.559
registered with the SEC. Visit our website at Greenberg financial

457
00:21:24.559 --> 00:21:26.400
dot com for some more information. You could give us

458
00:21:26.400 --> 00:21:28.519
a call and book a free financial planning meeting at

459
00:21:28.519 --> 00:21:30.920
five two zero five four four four nine zero nine.

460
00:21:31.039 --> 00:21:33.079
And you guys are still doing those, so thanks for

461
00:21:33.119 --> 00:21:35.200
whipping that in. It kind of led into what I

462
00:21:35.240 --> 00:21:38.279
was going to say, and that is any stock you

463
00:21:38.359 --> 00:21:42.119
hear about on this show is not a recommendation. Don't

464
00:21:42.160 --> 00:21:46.559
take it as a recommendation. Our purpose here is to

465
00:21:46.640 --> 00:21:48.559
be factual and hopefully have a little bit of fun.

466
00:21:49.160 --> 00:21:51.920
And we don't know your investment objective, We don't know

467
00:21:52.000 --> 00:21:56.000
your risk tolerance. Nothing we mentioned, no stock we mentioned,

468
00:21:56.000 --> 00:22:00.519
no strategy we mentioned, is intended as a recommendation to you.

469
00:22:01.160 --> 00:22:03.079
Is def yi. That's why I want you to.

470
00:22:03.079 --> 00:22:04.799
And a great points on that. It's like we've been

471
00:22:04.799 --> 00:22:07.839
talking about MP materials for since twenty dollars a share, right.

472
00:22:08.039 --> 00:22:10.119
We liked the stock at twenty dollars. Last week I

473
00:22:10.119 --> 00:22:11.599
talked about how I don't really like it here at

474
00:22:11.599 --> 00:22:13.400
thirty eight and whatted to do. On Friday it fell

475
00:22:13.440 --> 00:22:15.400
ten percent. So if you're one of those people that

476
00:22:15.480 --> 00:22:17.680
you know for one of the first time listening, maybe

477
00:22:17.759 --> 00:22:19.680
go listen to one of our other shows and you know,

478
00:22:19.839 --> 00:22:21.440
get some backtrack.

479
00:22:21.559 --> 00:22:23.680
Speaking of which, how about the Circle of Internet group.

480
00:22:23.880 --> 00:22:25.960
We talked about that it came public at thirty one

481
00:22:26.000 --> 00:22:29.680
dollars back on June fourth. June fourth went to two

482
00:22:29.920 --> 00:22:32.880
ninety nine. This is a company that's involved in the

483
00:22:32.960 --> 00:22:37.000
stable coin and it was down. I think it closed

484
00:22:37.000 --> 00:22:40.799
Friday at thirty forty percent off that high. Forty percent

485
00:22:41.079 --> 00:22:44.680
in three days off of that high. Yeah, And I

486
00:22:44.680 --> 00:22:49.359
think to myself, even if stable coin becomes the law

487
00:22:49.400 --> 00:22:52.720
of the land, it's going to take years to monetize,

488
00:22:53.519 --> 00:22:57.279
years for this company to make good money off this.

489
00:22:57.759 --> 00:22:59.920
Wouldn't you agree to Well, the good.

490
00:22:59.720 --> 00:23:02.559
Money is the interest that they're receiving onto it. So

491
00:23:02.680 --> 00:23:06.559
the monetizations already happened already have the ideas how much

492
00:23:06.599 --> 00:23:08.880
can it scale? No, I I mean, so when you

493
00:23:08.920 --> 00:23:12.640
look at the valuation of the business, never should should

494
00:23:12.640 --> 00:23:16.039
circle the company warrant a market cap that's bigger than

495
00:23:16.079 --> 00:23:19.880
the total circulating market cap supply of the thing that

496
00:23:19.880 --> 00:23:21.720
they issue, which is a USDC. No.

497
00:23:21.880 --> 00:23:22.319
Exactly.

498
00:23:22.400 --> 00:23:24.799
At one point their their market cap when it got

499
00:23:24.839 --> 00:23:28.960
up to over two twenty was that's almost ten billion

500
00:23:28.960 --> 00:23:32.000
dollars more than all the circulating supply of USDC. And

501
00:23:32.039 --> 00:23:34.200
that's not even what they make the money on. They

502
00:23:34.200 --> 00:23:36.880
make the money on the interest on that money. So

503
00:23:36.960 --> 00:23:39.920
if they have sixty billion of USDC, they're making four

504
00:23:39.920 --> 00:23:43.079
percent on that. That's their real revenue. And then you

505
00:23:43.200 --> 00:23:48.240
may warrant an eight you know, eight times premium to that.

506
00:23:48.359 --> 00:23:52.000
But yeah, I mean, it was trading way way too high.

507
00:23:52.079 --> 00:23:54.359
There were some really smart people that got in a

508
00:23:54.440 --> 00:23:58.039
room and spent hours and hours trying to figure out

509
00:23:58.079 --> 00:24:00.640
what they could get for the stock, and they figured

510
00:24:00.680 --> 00:24:04.440
twenty eight bucks a share. They finally got it, there's

511
00:24:04.440 --> 00:24:06.000
a little more demand than we thought. So they came

512
00:24:06.039 --> 00:24:08.319
at thirty one dollars. This year they went to nearly

513
00:24:08.400 --> 00:24:11.039
three hundred. So you've got to be careful of stuff

514
00:24:11.079 --> 00:24:13.240
like that. Again, we thank you for joining us on

515
00:24:13.279 --> 00:24:16.920
this day before the monsoon rains come. Come on, God,

516
00:24:17.079 --> 00:24:20.200
listen to me. We need it, we want it. We'll

517
00:24:20.240 --> 00:24:22.480
be back right after this break. Thanks again for joining us.

518
00:24:23.000 --> 00:24:24.720
Welcome back to the Money Matter Show. My name is

519
00:24:24.720 --> 00:24:27.680
Sebastian Borsini here with David Sherwood and Todd click Junior.

520
00:24:28.319 --> 00:24:29.799
Back of a week in the market's hit an all

521
00:24:29.839 --> 00:24:31.480
time highs in the s and P five hundred and

522
00:24:31.519 --> 00:24:34.720
sixty one eighty seven was a close on Friday, just

523
00:24:34.799 --> 00:24:35.359
keeps going.

524
00:24:35.559 --> 00:24:37.559
One of the things you guys, I bet here more

525
00:24:37.599 --> 00:24:39.559
than I do. When you sit in a meeting with

526
00:24:39.599 --> 00:24:43.200
a client, a financial planning meeting, and this client, this

527
00:24:43.240 --> 00:24:46.200
particular client, has done the right things and they have

528
00:24:46.279 --> 00:24:49.599
a million dollars in their four one K. They hang

529
00:24:49.640 --> 00:24:51.920
out with other people that have a million dollars in

530
00:24:51.960 --> 00:24:55.039
their four one K, so they think everyone has a

531
00:24:55.079 --> 00:24:57.200
million dollars in their four one K. I can't tell

532
00:24:57.240 --> 00:24:59.359
you over the years how many people I've met with

533
00:24:59.559 --> 00:25:02.160
that have one, two, three four million dollars and think

534
00:25:02.200 --> 00:25:05.640
everybody has one, two three four million. So I did

535
00:25:05.680 --> 00:25:08.359
a little research on this to just if you're one

536
00:25:08.359 --> 00:25:10.200
of those people out there that sitting with a million

537
00:25:10.319 --> 00:25:12.000
or two or three and you're four to one k.

538
00:25:13.160 --> 00:25:17.640
Get this. Social Security represents fifty percent of the income

539
00:25:18.400 --> 00:25:22.880
for fifty percent of retirees. So of your income, fifty

540
00:25:22.920 --> 00:25:26.400
percent of your total income is social Security for half

541
00:25:26.480 --> 00:25:28.160
of the people out there are retired. You want to

542
00:25:28.160 --> 00:25:30.799
know what the median four to one K balance is

543
00:25:30.839 --> 00:25:34.920
for somebody over sixty five? The median for one K balance.

544
00:25:34.880 --> 00:25:37.319
I'd guess like seven hundred thousand dollars.

545
00:25:37.359 --> 00:25:41.640
How about ninety five? Oh, ninety five thousand dollars? Is

546
00:25:41.680 --> 00:25:45.599
the median four to one K balance for people sixty

547
00:25:45.640 --> 00:25:50.079
five and older? The median US household savings. Now we're

548
00:25:50.119 --> 00:25:52.319
not talking about just people sixty five and older. That

549
00:25:52.400 --> 00:25:54.680
was sixty five and older ninety five grand and your

550
00:25:54.680 --> 00:25:59.279
four to one K household savings for everybody, the average

551
00:25:59.319 --> 00:26:02.279
household safe in the United States median I should say median.

552
00:26:02.680 --> 00:26:04.640
You can't use average when you looking at things like

553
00:26:04.680 --> 00:26:07.359
this because if somebody has if you have Jeff Bezos

554
00:26:07.400 --> 00:26:10.279
in there, it's gonna skew things right, So you need

555
00:26:10.400 --> 00:26:13.519
median median being the middle number. So when I talk

556
00:26:13.599 --> 00:26:16.759
about four one K Ballance sixty five and ninety five thousand.

557
00:26:17.000 --> 00:26:19.319
There are people that have ten million in their four

558
00:26:19.440 --> 00:26:21.559
one K, and there are people that don't have a

559
00:26:21.599 --> 00:26:24.680
four one K. The middle guy has ninety five grand,

560
00:26:25.400 --> 00:26:28.720
so on the US median savings, the middle guy eight

561
00:26:28.759 --> 00:26:34.319
grand a grand in total savings. Fifty percent of Americans

562
00:26:34.880 --> 00:26:39.240
could not handle a one thousand dollars unexpected expense. Fifty

563
00:26:39.240 --> 00:26:43.240
percent could not handle a one thousand dollars unexpected extent.

564
00:26:43.480 --> 00:26:45.119
So if you're sitting out there with a four one

565
00:26:45.200 --> 00:26:48.400
K with one two three million, very good job. That

566
00:26:48.440 --> 00:26:52.519
doesn't happen by accident. That takes planning and props to you,

567
00:26:53.480 --> 00:26:56.759
and not everybody has a million dollars. Yeah.

568
00:26:56.799 --> 00:26:59.279
That came out of the Vanguard report that they come

569
00:26:59.319 --> 00:27:01.599
out each year about four to one K plans, and

570
00:27:01.759 --> 00:27:06.920
they had some interesting other stats about specifically ROTH contributions.

571
00:27:07.000 --> 00:27:09.359
Eighty six percent of plans now offer ROW four to

572
00:27:09.400 --> 00:27:12.039
one K options. That's up from seventy four percent and

573
00:27:12.079 --> 00:27:12.599
twenty twenty.

574
00:27:12.640 --> 00:27:14.519
Eighty six percent of companies.

575
00:27:14.920 --> 00:27:16.839
Six percent of plans, oh plans.

576
00:27:16.559 --> 00:27:17.680
I'm sure, I say clients.

577
00:27:17.759 --> 00:27:21.759
Yeah, eighteen percent of participants use them and is a

578
00:27:21.759 --> 00:27:25.119
record high eighteen percent yes, eighteen percent. But that's it.

579
00:27:25.359 --> 00:27:27.599
Oh, that's lame. It's a record high day, that's flame.

580
00:27:28.119 --> 00:27:30.960
And that's why it's it's just education. I mean, we

581
00:27:31.000 --> 00:27:34.599
had a client come in here today on Friday, and

582
00:27:34.720 --> 00:27:38.359
you know, it's all about education. You know, when you're young,

583
00:27:38.400 --> 00:27:42.039
you don't necessarily know that having ten plus years of

584
00:27:42.279 --> 00:27:45.519
compound free growth anything over ten plus years, it's going

585
00:27:45.559 --> 00:27:48.240
to well overdo the savings you could have had on

586
00:27:48.279 --> 00:27:49.119
the front end.

587
00:27:49.960 --> 00:27:52.799
Yeah, this is a guy that's you know, Rayth, the

588
00:27:52.880 --> 00:27:56.200
unemployee does great for himself. What's the way twenty five

589
00:27:56.200 --> 00:27:58.119
percent of income in a year, And it's just coming

590
00:27:58.119 --> 00:28:00.880
into having that meeting that we you incorporate that into

591
00:28:00.880 --> 00:28:03.279
the financial plan and just making that little tweak. Hey,

592
00:28:03.279 --> 00:28:06.240
why don't you from the you know, move those out

593
00:28:06.319 --> 00:28:09.240
reallocate from the pretext bucket into the post text boocket

594
00:28:09.279 --> 00:28:11.119
because that trade off is a lot higher, a lot

595
00:28:11.160 --> 00:28:11.799
better for you.

596
00:28:11.880 --> 00:28:14.119
But I guess and it goes back to there's no

597
00:28:14.160 --> 00:28:17.200
immediate benefit to a wrath, no immediate benefit. And it

598
00:28:17.279 --> 00:28:19.200
kind of reminds me of the New York City election

599
00:28:19.319 --> 00:28:21.279
this past week. Did you see that.

600
00:28:21.319 --> 00:28:23.640
That's an interesting that's one of the are you going

601
00:28:23.640 --> 00:28:24.480
to connect that one?

602
00:28:24.599 --> 00:28:24.839
Huh?

603
00:28:24.839 --> 00:28:25.920
How are you going to connect that one?

604
00:28:25.960 --> 00:28:28.680
I'm going to connect that because it's it's instant gratification.

605
00:28:28.839 --> 00:28:31.519
You know that, Like there is no there's no benefit

606
00:28:31.640 --> 00:28:36.079
to doing a wroth, right, So so so why would

607
00:28:36.119 --> 00:28:38.440
you do that? So why would you vote for a

608
00:28:38.440 --> 00:28:40.079
politician who's not going to give you a whole bunch

609
00:28:40.119 --> 00:28:42.960
of free stuff? This guy's going to give you a

610
00:28:42.960 --> 00:28:46.359
whole bunch of free stuff, right? iMedia gratification? Uh, funding

611
00:28:46.400 --> 00:28:49.559
your four oh one k in this traditional manner, immediate gratification.

612
00:28:50.319 --> 00:28:53.079
Yeah, And I don't think most people even understand even

613
00:28:53.119 --> 00:28:56.880
feel that immediate gratification from that taxingravings. You don't probably

614
00:28:56.880 --> 00:28:57.559
even notice it.

615
00:28:57.839 --> 00:28:59.359
I know I did, But then back then, there weren't

616
00:28:59.400 --> 00:29:01.640
any ross when I first started, So then the roth

617
00:29:01.759 --> 00:29:04.240
kind of started to trickle out and you kind of

618
00:29:04.440 --> 00:29:05.400
didn't know what it was.

619
00:29:05.599 --> 00:29:08.920
And yeah, I mean, if you're putting twenty thousand into

620
00:29:09.440 --> 00:29:12.319
a four to one K and you're making around one

621
00:29:12.400 --> 00:29:15.920
hundred k, I mean, the tax savings on that means

622
00:29:15.960 --> 00:29:17.759
that you're just not getting tax one hundred k, you're

623
00:29:17.759 --> 00:29:22.200
getting taxed on eighty k instead. But that difference is

624
00:29:22.240 --> 00:29:25.599
not huge. And again if you weigh that against ten

625
00:29:25.599 --> 00:29:29.200
plus years of compound free growth and offset that versus

626
00:29:29.279 --> 00:29:31.640
tax deferred, you'll see how much the difference. Because we

627
00:29:31.640 --> 00:29:33.599
talk about this all the time. A million dollars in

628
00:29:33.680 --> 00:29:35.599
a four one K at sixty is not a million

629
00:29:35.640 --> 00:29:37.200
dollars if it's in a traditional and.

630
00:29:37.160 --> 00:29:39.519
We run into that all the time. Man, well, I

631
00:29:39.519 --> 00:29:42.200
think we'll run into it left and lets as we

632
00:29:42.240 --> 00:29:42.680
go forward.

633
00:29:42.720 --> 00:29:44.359
I think you've got only eighteen percent, Dave.

634
00:29:44.400 --> 00:29:46.119
We have so far. We got our job to do

635
00:29:46.519 --> 00:29:47.000
at job.

636
00:29:47.119 --> 00:29:49.279
We got it with education. So people who are listening,

637
00:29:49.400 --> 00:29:54.039
tell your grandkids, right, anyone who's under fifty really should

638
00:29:54.160 --> 00:29:56.319
entertain this idea of using the roth.

639
00:29:56.359 --> 00:29:58.000
If they're funding a four oh one K and they're

640
00:29:58.039 --> 00:29:59.799
not using the wroth four to one kN and they

641
00:29:59.839 --> 00:30:01.279
did available, that's a mistake.

642
00:30:01.319 --> 00:30:03.440
The eighty six percent of plans now have it, they

643
00:30:03.559 --> 00:30:04.160
need to do that.

644
00:30:04.240 --> 00:30:06.200
I mean it's really a samplein we can do the

645
00:30:06.200 --> 00:30:07.559
math if you'd like us to time.

646
00:30:07.559 --> 00:30:09.079
Most people don't know that you can also do the

647
00:30:09.079 --> 00:30:11.160
wroth iray on top of the Wroth four one K

648
00:30:11.240 --> 00:30:14.240
as long as you're under a certain limit of income, right,

649
00:30:14.319 --> 00:30:16.160
and so you can even put more away.

650
00:30:15.960 --> 00:30:17.839
Right, and for the people that you know make over

651
00:30:17.839 --> 00:30:21.720
the income limits can't open up their ROTH iray themselves,

652
00:30:22.039 --> 00:30:24.359
and you have access to that ROTH bucket and your

653
00:30:24.359 --> 00:30:26.000
four one K plan, that's a great way to get

654
00:30:26.000 --> 00:30:26.799
that tax benefit.

655
00:30:27.000 --> 00:30:29.680
Yeah. Yeah, because that's curt income level. You can't do

656
00:30:29.720 --> 00:30:32.519
a WROTH correct. I believe it's not a big number.

657
00:30:33.400 --> 00:30:35.440
It's for single filers. I believe it's close to one

658
00:30:35.480 --> 00:30:36.880
hundred and fifty thousand dollars.

659
00:30:37.519 --> 00:30:40.079
And fifty eight I believe now that's modified to justic

660
00:30:40.160 --> 00:30:43.079
gross income. And there is still ways to contribute to

661
00:30:43.119 --> 00:30:45.640
irays and then convert it to the WROTH each and

662
00:30:45.680 --> 00:30:48.000
every year, and and it's just a back door way

663
00:30:48.000 --> 00:30:50.599
to get it into the WROTH. But you know, there's

664
00:30:50.680 --> 00:30:54.079
there's many good ways to put into retirement, but ROTH

665
00:30:54.759 --> 00:30:57.039
is the best account. And the only account better than

666
00:30:57.039 --> 00:30:59.759
the WROTH is HSA. And mostly the don't know about

667
00:30:59.880 --> 00:31:02.680
h says how that can be used as another retirement

668
00:31:02.720 --> 00:31:05.039
vehicle as well. I mean, after sixty five, you don't

669
00:31:05.079 --> 00:31:08.759
have to necessarily use that money for medicare. If you do,

670
00:31:08.839 --> 00:31:12.240
you'll still pay taxes like an IRA would, but it's

671
00:31:12.279 --> 00:31:14.200
not tax or penalized.

672
00:31:13.880 --> 00:31:16.119
Right, And that wasn't clear when the HSA first came out.

673
00:31:16.119 --> 00:31:18.640
It was it was it was strictly for medical care.

674
00:31:18.720 --> 00:31:20.839
And if you did, if you were healthy, you think, well,

675
00:31:20.839 --> 00:31:23.160
why am I putting money here? You know, I'm not

676
00:31:23.160 --> 00:31:25.079
going to ever need this? And if I don't need it,

677
00:31:25.079 --> 00:31:27.920
then what happens? We'll use it eventually, I guess. But

678
00:31:28.119 --> 00:31:30.480
if I'm on Medicare advantage and I don't have any

679
00:31:30.759 --> 00:31:33.000
co pay that, well, any what.

680
00:31:32.920 --> 00:31:33.519
Good does it do?

681
00:31:33.759 --> 00:31:35.839
You can't use that's change right?

682
00:31:35.839 --> 00:31:39.359
And you can use hsas for premiums now too sure

683
00:31:39.559 --> 00:31:43.559
even a whole use this for uh gym memberships.

684
00:31:43.640 --> 00:31:45.720
You use it for massages. You can use it for accuput.

685
00:31:46.279 --> 00:31:48.839
My ankle this wet last week playing basketball, so I'm

686
00:31:48.839 --> 00:31:50.200
not gonna be running for a while. And I had

687
00:31:50.200 --> 00:31:52.279
to buy a boot. You get HSA for the boot

688
00:31:52.319 --> 00:31:52.880
on Amazon.

689
00:31:52.960 --> 00:31:53.759
Yeah, it worked fine.

690
00:31:53.839 --> 00:31:56.720
You know, all kinds of stuff you can use HSA's.

691
00:31:56.279 --> 00:31:58.480
For going back. Those are roth Ira income livings for

692
00:31:58.519 --> 00:32:00.640
twenty twenty five. If you're a single, one hundred and

693
00:32:00.640 --> 00:32:02.799
fifty thousand dollars in could call less than two hundred

694
00:32:02.799 --> 00:32:04.759
thirty six thousand dollars for those filing jointly.

695
00:32:04.880 --> 00:32:06.720
Good call. I should expound a little bit on that

696
00:32:06.799 --> 00:32:10.119
New York City election because I brought it up. It's

697
00:32:10.200 --> 00:32:13.759
really mesha scratch her head. In a city with the

698
00:32:13.880 --> 00:32:17.960
largest Jewish population in the country has elected in their

699
00:32:18.000 --> 00:32:23.759
Democratic primary a Muslim socialist. This guy is very has

700
00:32:23.799 --> 00:32:27.759
some very strange ideas free city buses, going to tax

701
00:32:28.119 --> 00:32:31.880
the top one percent until they can't breathe anymore. It's

702
00:32:31.920 --> 00:32:35.039
just very, very bizarre. And of course he was running

703
00:32:35.039 --> 00:32:38.559
against Andrew Cuomo, so kind of like, are you voting

704
00:32:38.599 --> 00:32:41.079
for this guy or against andre This guy was? This

705
00:32:41.160 --> 00:32:45.119
guy that won was a little known New York assemblyman

706
00:32:45.480 --> 00:32:47.480
when he decided he wanted to run for mayor of

707
00:32:47.519 --> 00:32:50.200
New York City and he wins the Democratic primary. Now

708
00:32:50.240 --> 00:32:53.480
the good news if you're in New York. He's going

709
00:32:53.559 --> 00:32:56.200
up against Mayor Eric Adams is running as an independent.

710
00:32:56.200 --> 00:32:59.000
It's the current mayor is running as an independent, so

711
00:32:59.039 --> 00:33:01.480
it'll be the the social.

712
00:33:01.200 --> 00:33:05.039
And I saw his interview with CNBC on Friday, Eric

713
00:33:06.000 --> 00:33:10.279
Mary Adams. He said that he's an independent with still

714
00:33:10.519 --> 00:33:11.480
Democratic ties.

715
00:33:11.799 --> 00:33:13.920
Yeah, so you know that.

716
00:33:14.279 --> 00:33:17.799
Yeah, I mean, he's he probably will win. It looks

717
00:33:17.880 --> 00:33:20.920
like but Yeah, it was quite a surprise.

718
00:33:21.480 --> 00:33:23.960
Well, you've been very critical of Israel, and he refuses

719
00:33:24.039 --> 00:33:27.920
to accept their ability to exist as a state. I'm

720
00:33:28.000 --> 00:33:30.960
not sure what that's all about. Yeah, I don't. I

721
00:33:30.960 --> 00:33:33.279
don't get it anyway. That's one of the mysteries of

722
00:33:33.359 --> 00:33:36.440
last week. For sure. We've got a lot of enthusiasm

723
00:33:36.480 --> 00:33:39.079
in the market, a lot of fomo, a lot of

724
00:33:39.119 --> 00:33:43.880
fear of mything out. We saw that Monday when the

725
00:33:43.920 --> 00:33:47.480
bomb dropped, and the reaction was the market opened higher,

726
00:33:48.000 --> 00:33:50.440
oil prices move lower, never goes. Oh my goodness, I

727
00:33:50.519 --> 00:33:53.000
better get on board. If you were short the market,

728
00:33:53.000 --> 00:33:56.759
you were recovering so fast you can you couldn't see straight,

729
00:33:57.079 --> 00:33:59.480
and you're putting cash to work. And I got to

730
00:33:59.480 --> 00:34:02.440
get into here quick and boom up we go, and

731
00:34:02.519 --> 00:34:04.759
now we finish. We got one more day of trading

732
00:34:05.319 --> 00:34:08.599
in June, and at the dependent on how much let's

733
00:34:08.599 --> 00:34:12.039
assume Monday closure is flat, you've got a sixty day

734
00:34:12.159 --> 00:34:15.559
market return of ten point eight percent. That's above the

735
00:34:15.840 --> 00:34:19.679
annual rate of return historically, so pretty good.

736
00:34:19.920 --> 00:34:23.000
Yeah. But if you just think about the fact that

737
00:34:23.039 --> 00:34:27.639
our we have such a dumb other side to think

738
00:34:27.679 --> 00:34:31.199
that if you tax people more what are they gonna do.

739
00:34:31.559 --> 00:34:34.480
They're gonna take their business and go somewhere else, So

740
00:34:34.519 --> 00:34:37.239
then that entire tax base will go away completely.

741
00:34:37.599 --> 00:34:38.239
So is that.

742
00:34:38.159 --> 00:34:42.039
Better than having? Like they just don't think. They don't

743
00:34:42.039 --> 00:34:45.480
even understand game theory of how if you do this,

744
00:34:45.480 --> 00:34:48.199
this will happen. Like they act like their actions have

745
00:34:48.239 --> 00:34:49.280
no consequences.

746
00:34:49.679 --> 00:34:51.880
This guy was promising all kinds of free stuff. You know,

747
00:34:51.920 --> 00:34:54.679
there's gonna be free buses, and rent control is really

748
00:34:54.719 --> 00:34:56.920
gonna be controlled, and then we're gonna be shity run

749
00:34:56.960 --> 00:34:59.719
grocery stores. Imagine how that would work? Be horrible? Imagine

750
00:34:59.719 --> 00:35:01.800
how that work us put the city in charge of

751
00:35:01.840 --> 00:35:03.360
the grocery stores. Are you kidding me?

752
00:35:03.440 --> 00:35:05.880
There's the reason that free things don't work. Public goods,

753
00:35:05.880 --> 00:35:07.920
public restaurants, tragedy of the commons.

754
00:35:08.679 --> 00:35:12.280
Why would someone want to pay for a failing system?

755
00:35:12.599 --> 00:35:16.000
They're going to move to another state or another country.

756
00:35:16.039 --> 00:35:19.079
It's just basically that they don't understand incentives. I think.

757
00:35:19.199 --> 00:35:21.559
Well, and then Schumer and Clinton both came out and

758
00:35:21.639 --> 00:35:26.119
endorsed this this guy a couple of days after the ad.

759
00:35:26.480 --> 00:35:29.920
They're socialists and that's and that's the idea. They want

760
00:35:29.960 --> 00:35:33.440
a world government. They want that central bank digital currency

761
00:35:33.480 --> 00:35:37.599
that you can control, control your personal interest rate. They

762
00:35:37.599 --> 00:35:39.440
want as much control as they possibly can get.

763
00:35:39.800 --> 00:35:42.119
Certainly, Trump gets the headlines for last week, but the

764
00:35:42.119 --> 00:35:44.199
election in New York was close. We'll be back right

765
00:35:44.239 --> 00:35:46.320
after this break with more of the Money Matter Show.

766
00:35:46.920 --> 00:35:49.119
Welcome back to The Money Matter Show. My name is

767
00:35:49.159 --> 00:35:52.000
Todd Glick. I'm here with Sebastian Borsini and David Sherwood.

768
00:35:52.199 --> 00:35:54.719
Last break, we were talking a little bit about retirement

769
00:35:54.719 --> 00:35:57.119
accounts and one of the other things that hits me

770
00:35:57.199 --> 00:36:00.719
a lot that most people don't know, especially the younger generations.

771
00:36:00.760 --> 00:36:02.440
They're saying, I don't want to put money into a

772
00:36:02.440 --> 00:36:04.840
retirement account, and I'm not going to see till fifty

773
00:36:04.920 --> 00:36:06.039
nine and a half. I don't even know if I'm

774
00:36:06.039 --> 00:36:08.639
gonna live that long, which is really funny for twenty

775
00:36:08.719 --> 00:36:10.239
year olds to say. In thirty year olds right now,

776
00:36:10.239 --> 00:36:13.000
it's like you're living in probably the longest longevity you'll

777
00:36:13.519 --> 00:36:16.840
any human has ever lived in. But okay, besides the point.

778
00:36:16.679 --> 00:36:19.280
And to be so young and not better on humanity

779
00:36:19.320 --> 00:36:21.320
and longevity is just ridiculous.

780
00:36:21.679 --> 00:36:26.119
But even if that's your fear, there's something called hardship withdrawals,

781
00:36:26.159 --> 00:36:28.280
and these are a way to get money out of

782
00:36:28.320 --> 00:36:31.239
an IRA or a wroth IRA without paying that ten

783
00:36:31.239 --> 00:36:33.960
percent penalty which you otherwise would if you take money

784
00:36:33.960 --> 00:36:36.800
out before fifty nine and a half. And what also

785
00:36:36.840 --> 00:36:38.599
most people don't know is with the wroth, if I

786
00:36:38.639 --> 00:36:41.000
put in ten thousand, that principle I can take out

787
00:36:41.039 --> 00:36:44.199
that ten thousand without penalty. It's the growth on that

788
00:36:44.320 --> 00:36:46.039
money that I can't take out three.

789
00:36:45.880 --> 00:36:48.840
Year, three years three. You have to be in it

790
00:36:48.880 --> 00:36:51.239
for three years. So you put ten thousand in a roth.

791
00:36:51.679 --> 00:36:53.639
Or let's see, you have put ten thousand in a

792
00:36:53.639 --> 00:36:56.960
wroth and you run into a financial problem five years

793
00:36:56.960 --> 00:36:59.280
down the road, you can get that money back without tax.

794
00:37:00.440 --> 00:37:03.119
There's many hardship with draws. Other hardship with draws are

795
00:37:03.119 --> 00:37:05.559
also going to be first time home buyer. You can

796
00:37:05.599 --> 00:37:09.679
take up to ten thousand. There's economic hardship with draws

797
00:37:09.719 --> 00:37:11.880
which you can only have I think two a year,

798
00:37:12.239 --> 00:37:14.840
but you can take up to around a couple thousand

799
00:37:14.920 --> 00:37:19.159
for that. There's multiple ways to get out of divorce.

800
00:37:19.639 --> 00:37:21.840
But what Todd's talking about real quick, just going back,

801
00:37:21.960 --> 00:37:24.239
you're talking about the five year wait. You know you

802
00:37:24.239 --> 00:37:26.000
put your money in, you have to wait five years

803
00:37:26.000 --> 00:37:28.519
actually to get that five it's five okay to get

804
00:37:28.519 --> 00:37:31.920
that principle out. What Todd's talking about is hard hardship withdrawals.

805
00:37:32.000 --> 00:37:33.519
So if you have the first time home by it

806
00:37:33.599 --> 00:37:37.440
oversees this big difference five year window, right difference.

807
00:37:38.000 --> 00:37:41.599
Yeah, the we've we've got lower interest rates last week,

808
00:37:41.719 --> 00:37:47.880
we got much lower oil prices. Economy surprisingly good. Do

809
00:37:48.039 --> 00:37:51.440
we have world peath? I mean obviously we don't, but

810
00:37:51.519 --> 00:37:55.000
I mean, did that did those bombs really make a difference?

811
00:37:55.239 --> 00:37:58.599
Let's hope. So let's hope. So I don't trust the Iranians.

812
00:37:58.599 --> 00:38:00.800
I think that's probably just part of being an American

813
00:38:01.559 --> 00:38:02.320
or being a Jew.

814
00:38:03.079 --> 00:38:06.960
Yeah, really, just so you know the wroth, you can

815
00:38:06.960 --> 00:38:09.159
always take contributions out penalty for you don't have to

816
00:38:09.159 --> 00:38:12.239
wait five years. The five year rule applies to earnings

817
00:38:12.280 --> 00:38:14.280
and you have to be fifty nine and a half

818
00:38:14.800 --> 00:38:17.360
to take out earnings. You have to So they did

819
00:38:17.360 --> 00:38:20.800
that because of the wroth conversion thing. But you can

820
00:38:20.840 --> 00:38:23.199
always take out your contributions penalty for you. Really, like

821
00:38:23.280 --> 00:38:25.719
if you if I put in ten, well you can't

822
00:38:25.719 --> 00:38:26.920
put ten thousand a year, but if I put it

823
00:38:27.000 --> 00:38:29.159
seven thousand in one year max out my country, I

824
00:38:29.199 --> 00:38:31.639
can take out seven thousand the next year. That principle

825
00:38:32.199 --> 00:38:34.559
that if it grows to ten thousand, that three thousand

826
00:38:34.679 --> 00:38:37.719
night that I made, I can't take that out without penalty.

827
00:38:38.639 --> 00:38:41.239
Point last I'm over five years and I'm over fifty nine.

828
00:38:41.320 --> 00:38:43.400
Point is if you have the ability to do a

829
00:38:43.480 --> 00:38:46.480
wroth versus a traditional you should do the wroth. The

830
00:38:46.800 --> 00:38:48.320
numbers work out so much better.

831
00:38:48.480 --> 00:38:50.079
But also if you're young and you think that you're

832
00:38:50.079 --> 00:38:52.639
putting money away into something that you can't touch forever,

833
00:38:52.679 --> 00:38:55.599
that's not necessarily true. Especially if you're you're like I

834
00:38:55.639 --> 00:38:57.239
need to save up for my first time home buy,

835
00:38:57.320 --> 00:39:00.440
but I don't necessarily want to be pitch and holding

836
00:39:00.480 --> 00:39:02.280
myself and not have access to the money if I

837
00:39:02.320 --> 00:39:04.360
put it in this account, that's not necessarily true. You

838
00:39:04.400 --> 00:39:05.679
can still take out the principle.

839
00:39:06.239 --> 00:39:08.960
One thing we did is one minor casualty of the

840
00:39:09.159 --> 00:39:13.440
of the uh war and Iran being wye need what's

841
00:39:13.440 --> 00:39:14.760
the word I want? I want to pick the royal

842
00:39:14.800 --> 00:39:16.719
word because I don't as you know, I don't trust them.

843
00:39:16.719 --> 00:39:22.400
But how about slowing down or quite contemporary quiet period?

844
00:39:22.639 --> 00:39:26.039
It's in a quiet period right now, but raytheon drop

845
00:39:26.079 --> 00:39:29.360
five percent from the all time high after things settled down. See,

846
00:39:29.480 --> 00:39:31.639
but it seems to me they're going to have a

847
00:39:31.679 --> 00:39:36.000
tremendous amount of business replacing the thousands of things that

848
00:39:36.039 --> 00:39:37.199
have been been shut off.

849
00:39:37.320 --> 00:39:40.559
Not to mention that the Golden Dome, well, the iron Dome, No,

850
00:39:40.639 --> 00:39:41.800
it's the golden Golden here.

851
00:39:42.039 --> 00:39:45.079
Oh here, that's not gonna happen, according to Dave.

852
00:39:45.119 --> 00:39:45.920
Guys, it's not happening.

853
00:39:45.920 --> 00:39:48.599
We got no money, we can't afford it. Well, and

854
00:39:48.639 --> 00:39:49.239
we already have.

855
00:39:49.320 --> 00:39:51.440
Are paying for all the other study, but we don't

856
00:39:51.480 --> 00:39:52.079
have money.

857
00:39:53.320 --> 00:39:55.039
I was about to say, David, that doesn't make a difference.

858
00:39:55.039 --> 00:39:56.400
We don't have money now, and we're.

859
00:39:56.719 --> 00:39:59.079
Down to the point now where the debt to GDP

860
00:39:59.280 --> 00:40:02.519
is getting onerous, it's getting onorous.

861
00:40:02.639 --> 00:40:04.639
Or at this point it seems like a number they

862
00:40:04.639 --> 00:40:05.079
don't care.

863
00:40:05.320 --> 00:40:08.119
Yeah, let's hope they do, and we really don't need it.

864
00:40:08.159 --> 00:40:12.440
We have ballistic missiles strategically placed out from South Dakota.

865
00:40:12.440 --> 00:40:14.440
They were all over South Dakota because you know, if

866
00:40:14.480 --> 00:40:15.519
they come over to the North Pole.

867
00:40:15.960 --> 00:40:18.599
I don't think the argument is if they're needed. It's

868
00:40:18.639 --> 00:40:22.119
like it already seems like it's gonna happen. So if

869
00:40:22.119 --> 00:40:25.679
it happens, that's a great thing for Atheon obviously.

870
00:40:25.280 --> 00:40:26.719
Yes, and I need defense contract.

871
00:40:26.800 --> 00:40:30.119
Yeah. Well, you know they did help Israel build the

872
00:40:30.119 --> 00:40:33.480
Iron Dome. And you know, the interesting to the Iron

873
00:40:33.519 --> 00:40:36.360
Dome is read about it. It's a three tier, three different

874
00:40:36.440 --> 00:40:39.880
levels depending upon the what's being shot. And also I

875
00:40:39.880 --> 00:40:43.159
didn't understand that it has the ability to read what's

876
00:40:43.239 --> 00:40:47.400
incoming where it's projected to fall, and if it's going

877
00:40:47.480 --> 00:40:48.960
to fall in a field somewhere, they just let it go.

878
00:40:49.079 --> 00:40:49.440
Let it go.

879
00:40:49.599 --> 00:40:51.440
Yeah, I didn't realize it was just if it's going

880
00:40:51.519 --> 00:40:53.960
to hit a populated area, they blow it up.

881
00:40:54.079 --> 00:40:55.159
Yes, it's pretty efficient.

882
00:40:55.280 --> 00:40:57.800
It's pretty darn efficient. It's just amazing. Raything On in

883
00:40:57.639 --> 00:41:01.880
the US government bought that for him, paid Raytheon to

884
00:41:02.400 --> 00:41:03.920
build that for them, in a good job.

885
00:41:04.079 --> 00:41:05.599
Calling it the Golden Dome here in the US.

886
00:41:05.639 --> 00:41:09.639
Because the Trump's hair okay, okay, that wrapped there with

887
00:41:09.639 --> 00:41:11.239
the phone, there's not going to be actually made in

888
00:41:11.239 --> 00:41:11.760
the NICE.

889
00:41:11.760 --> 00:41:14.599
So we learned that this week. Trump's phone is definitely

890
00:41:14.639 --> 00:41:15.880
not going to be made in the US.

891
00:41:15.920 --> 00:41:18.199
We said last week it can't be We said last

892
00:41:18.199 --> 00:41:19.840
week it can't be it's impossible.

893
00:41:19.920 --> 00:41:21.880
Speaking of phones, do you guys remember BlackBerry?

894
00:41:22.360 --> 00:41:23.719
Yes, oh yeah, oh yeah.

895
00:41:23.760 --> 00:41:26.039
So that went out twelve percent this week and I

896
00:41:26.039 --> 00:41:27.480
just thought it was super funny. I have to pull

897
00:41:27.519 --> 00:41:31.400
it out from CNBC. This is their headline, BlackBerry the

898
00:41:31.480 --> 00:41:35.199
cybersecurity stock pop twelve percent after the first quarter earnings

899
00:41:35.199 --> 00:41:39.559
revenue cyber security stuck. I haven't read into this company

900
00:41:39.599 --> 00:41:41.519
and what they've been doing since. You know, they've dropped

901
00:41:41.519 --> 00:41:44.239
the little phone ages ago, but I didn't know that

902
00:41:44.280 --> 00:41:45.840
they were cybersecurity stock.

903
00:41:46.760 --> 00:41:48.440
I didn't either. I didn't even know what they'd do.

904
00:41:48.599 --> 00:41:51.079
But for those of you of a certain age, that

905
00:41:51.360 --> 00:41:54.320
was the cell phone that was the that was an

906
00:41:54.480 --> 00:41:57.920
encrypted secure and maybe that's why they came up with

907
00:41:57.920 --> 00:42:01.559
the cybersecurity because the BlackBerry was so secure, but that

908
00:42:01.800 --> 00:42:03.840
was the go to phone. If you had a BlackBerry,

909
00:42:03.880 --> 00:42:04.440
you were all that.

910
00:42:04.639 --> 00:42:06.880
You know, I have a client that's always touting BlackBerry.

911
00:42:06.920 --> 00:42:08.039
Way to go, Scott, good job.

912
00:42:08.119 --> 00:42:12.039
And you know why BlackBerry was replaced was because of

913
00:42:12.039 --> 00:42:16.119
the touch screen. Okay, right, there was a new technology

914
00:42:16.440 --> 00:42:19.159
that everyone was It was so much better than the

915
00:42:19.199 --> 00:42:20.800
little pearl they had. I mean when they came out

916
00:42:20.800 --> 00:42:22.880
with the Pearl. Everyone loved it. They're like, oh my gosh,

917
00:42:22.920 --> 00:42:24.079
you're able to control the phones.

918
00:42:24.079 --> 00:42:24.320
Cool.

919
00:42:24.599 --> 00:42:27.119
But now it's touch screen with the iPhone, the first

920
00:42:27.199 --> 00:42:30.119
iPhone and then ever since then, the iPhone took way

921
00:42:30.119 --> 00:42:31.639
bigger control of that market share.

922
00:42:31.800 --> 00:42:33.199
I know they had a strength. There was a point

923
00:42:33.239 --> 00:42:35.199
where they had a strangle hold on the cell phone market.

924
00:42:35.239 --> 00:42:36.480
They were the cell phone.

925
00:42:37.000 --> 00:42:39.440
But it took a revolutionary technology to take it away

926
00:42:39.440 --> 00:42:41.199
from them. Yeah, you know, And I think it's We've

927
00:42:41.199 --> 00:42:44.679
seen that in other businesses with Netflix and and and

928
00:42:44.920 --> 00:42:48.760
Blockbuster and Amazon and sears like that. That's what happens

929
00:42:48.760 --> 00:42:51.480
when a better technology comes along, it can replace even

930
00:42:51.519 --> 00:42:52.960
the strongest of businesses.

931
00:42:53.119 --> 00:42:55.519
And I don't think that Todd's calling death to Apple.

932
00:42:55.559 --> 00:42:57.239
I think it's just, you know, they need to make

933
00:42:57.280 --> 00:42:58.000
another product.

934
00:42:58.199 --> 00:43:00.239
No, I think we I think we all agree, uh

935
00:43:00.519 --> 00:43:02.519
and most of the analysts agree they need to come

936
00:43:02.559 --> 00:43:04.559
up with some theme. And I don't know that they're

937
00:43:04.559 --> 00:43:06.840
going to so they need to buy somebody who will

938
00:43:06.880 --> 00:43:07.760
come up with something.

939
00:43:07.960 --> 00:43:10.400
I'm really I mean, I think Google has a really

940
00:43:10.400 --> 00:43:13.400
good setup here for just so many different lines. Not

941
00:43:13.440 --> 00:43:17.079
only do they have YouTube, right, they have Google, but

942
00:43:17.159 --> 00:43:19.440
they also have the quantum computing on the back end,

943
00:43:19.440 --> 00:43:21.559
and they're one of the leaders. We've seen what IBM

944
00:43:21.760 --> 00:43:24.920
stock has been doing. Because of some of that, they're

945
00:43:25.000 --> 00:43:27.119
continuing to hit new all time highs. But it seems

946
00:43:27.119 --> 00:43:28.639
like Google is just kind of getting left in the

947
00:43:28.679 --> 00:43:31.039
dust because of all the drama they keep getting themselves in.

948
00:43:31.159 --> 00:43:33.000
Yeah. Again, I think they're involved with the federal government.

949
00:43:33.000 --> 00:43:36.559
They're involved in several lawsuits. A judge just talking about

950
00:43:36.599 --> 00:43:39.360
breaking up, breaking them apart. What's that going to mean?

951
00:43:39.440 --> 00:43:43.280
And yeah, they've just got a lot of noise surrounding.

952
00:43:43.440 --> 00:43:46.440
And the video new all time highs. Did not see

953
00:43:46.440 --> 00:43:47.280
that one coming.

954
00:43:47.000 --> 00:43:49.360
Out with me, neither just and it went todd It

955
00:43:49.400 --> 00:43:51.400
went from one thirty five to one fifty five in

956
00:43:51.440 --> 00:43:52.000
a heartbeat.

957
00:43:52.119 --> 00:43:55.599
I remember when you said it was I'm done, said

958
00:43:55.599 --> 00:43:57.920
it had a new all time That's why I absolutely

959
00:43:57.960 --> 00:43:59.960
believed it had hit an all time high and wouldn't

960
00:44:00.159 --> 00:44:02.320
it was never going to get back there because I

961
00:44:02.360 --> 00:44:06.320
didn't believe that the market could grow exponentially.

962
00:44:06.360 --> 00:44:09.159
But what happened this past week is they've gone off

963
00:44:09.199 --> 00:44:12.360
into another business essentially, so.

964
00:44:12.400 --> 00:44:14.400
I'm not just a semiconductor business.

965
00:44:14.519 --> 00:44:16.519
Yeah, So if okay, it's not going to be a

966
00:44:16.519 --> 00:44:18.320
one product company anymore.

967
00:44:18.039 --> 00:44:19.400
So robots, right.

968
00:44:19.480 --> 00:44:22.719
That's so, that's what I didn't see coming and probably

969
00:44:22.719 --> 00:44:24.239
should have. But again, like I said, it was a

970
00:44:24.239 --> 00:44:26.679
bold call that was wrong. But a lot of times

971
00:44:26.679 --> 00:44:30.440
when you make bold calls, you're wrong. The PCE, which

972
00:44:30.519 --> 00:44:34.000
is the Fed's favorite gage of inflation, was released on Friday,

973
00:44:34.079 --> 00:44:36.039
up one tenth of one percent, which was in line

974
00:44:36.079 --> 00:44:38.400
with expectations. I think it was what two point four

975
00:44:38.440 --> 00:44:41.039
percent of over a year, which is similar to the CPI,

976
00:44:41.239 --> 00:44:44.440
similar to the PPI showing that at this point inflation

977
00:44:45.360 --> 00:44:47.880
despite the tariffs not really in. But you know, the

978
00:44:47.920 --> 00:44:52.280
tariffs have not really kicked in yet for most of

979
00:44:52.320 --> 00:44:55.960
our training partners, so we'll have to wait and see you.

980
00:44:56.000 --> 00:44:58.239
HOWE was on the car it was on Congressional Hill

981
00:44:58.360 --> 00:45:01.800
this week. He was, yeah, And he was two different

982
00:45:01.880 --> 00:45:04.440
days of given hearings. He does that twice a year

983
00:45:04.880 --> 00:45:08.320
for whatever reason. It seems like a very pointless committee

984
00:45:08.679 --> 00:45:10.440
just asking him questions. Seems like he just hates his

985
00:45:10.519 --> 00:45:13.480
job when he's doing it. But what he says is

986
00:45:13.519 --> 00:45:16.519
inflation is the real key, which I thought was very surprising.

987
00:45:16.519 --> 00:45:18.039
I thought he was going to be talking about labor,

988
00:45:18.079 --> 00:45:20.960
but he still thinks it's inflation. If he sees inflation

989
00:45:21.639 --> 00:45:23.440
data come in and it's still low, he says he

990
00:45:23.480 --> 00:45:28.000
can start thinking about cutting rates soon. So July inflation

991
00:45:28.079 --> 00:45:30.039
is gonna be very interesting to see how that comes in.

992
00:45:30.079 --> 00:45:33.239
But like you said, the tariffs haven't quite taken place.

993
00:45:33.280 --> 00:45:35.719
So can he kick this ball a couple more months

994
00:45:35.840 --> 00:45:37.039
of saying the data isn't in.

995
00:45:37.079 --> 00:45:39.960
Yet, right? And I think that's his plan and I don't.

996
00:45:39.960 --> 00:45:42.480
I can't argue with him because we don't know, And

997
00:45:42.599 --> 00:45:44.760
boy would that be embarrassing to drop rates and then

998
00:45:44.800 --> 00:45:45.800
have to raise him.

999
00:45:46.199 --> 00:45:48.239
He did say that if we get it wrong, the

1000
00:45:48.280 --> 00:45:51.519
American person's gonna have a lot of pain and.

1001
00:45:52.280 --> 00:45:54.119
They're gonna lose faith.

1002
00:45:54.840 --> 00:45:57.079
But he's also already gotten it wrong with the inflation.

1003
00:45:57.960 --> 00:46:00.239
I mean, they said it was transmitory and they were

1004
00:46:00.239 --> 00:46:01.039
completely wrong.

1005
00:46:01.320 --> 00:46:03.400
Well that was and Dean Dean picked that up the

1006
00:46:03.519 --> 00:46:06.159
very first time they said that. He said, that's not transitory,

1007
00:46:06.239 --> 00:46:08.559
it's wages. They're not going back, they're not going back down.

1008
00:46:08.599 --> 00:46:11.679
There's nothing transittory about this. Uh So Dean was desightful

1009
00:46:11.760 --> 00:46:14.679
enough to as a businessman and someone who employees, has

1010
00:46:14.679 --> 00:46:18.280
employed hundreds of people over the years to see that's no,

1011
00:46:18.719 --> 00:46:21.719
this is not transfittory. Been here, done that, and it's

1012
00:46:21.800 --> 00:46:25.199
it's not coming back down. We got the the jobs

1013
00:46:25.199 --> 00:46:28.360
report next Friday or next Thursday, I'm sorry, next Friday,

1014
00:46:28.960 --> 00:46:29.599
fourth of July.

1015
00:46:29.880 --> 00:46:31.559
Yeah, short day, right, yeah.

1016
00:46:31.559 --> 00:46:36.679
No, no Wednesday cursed on a Wednesday. Wednesday, the market closes.

1017
00:46:37.000 --> 00:46:37.800
The market closed.

1018
00:46:37.599 --> 00:46:39.679
Early on the third, either ten or eleven.

1019
00:46:39.800 --> 00:46:42.039
Oh it does. Yeah, okay, but half a day.

1020
00:46:42.039 --> 00:46:44.239
The day before, the day before us a half day

1021
00:46:44.239 --> 00:46:45.800
and then obviously no work on Friday.

1022
00:46:45.880 --> 00:46:47.719
Yeah. A lot of times it's it's not a half

1023
00:46:47.760 --> 00:46:49.920
day before holiday, but this time it is. Huh ah.

1024
00:46:49.960 --> 00:46:51.840
So we get three and a half day weekend. Look

1025
00:46:51.880 --> 00:46:53.800
at that, who are gonna be one hundred and ten

1026
00:46:53.800 --> 00:46:59.440
degrees and well, yeah, rainy, rainy and back because I'm honestly,

1027
00:46:59.440 --> 00:47:01.800
and we'll have started then, come on, let's go. Yeah,

1028
00:47:02.000 --> 00:47:04.239
first after the first of July, so the monsor will

1029
00:47:04.280 --> 00:47:09.719
have started. I getting to Albuquerque. But here, you know,

1030
00:47:09.400 --> 00:47:11.679
if it comes up from the south and it goes

1031
00:47:11.719 --> 00:47:14.360
to New Mexico first and then it moves over here.

1032
00:47:14.519 --> 00:47:17.480
So yeah, New Mexico June fifteenth, here, first of July

1033
00:47:17.880 --> 00:47:21.440
so settle down, people. Anyway, every day next week, chance

1034
00:47:21.480 --> 00:47:24.079
of rain. We'll hope that the forecast is right, and

1035
00:47:24.079 --> 00:47:26.440
we'll hope that the Lord blessed us with a ton

1036
00:47:26.920 --> 00:47:29.480
of water. We'll back right off this message with the

1037
00:47:29.519 --> 00:47:32.440
second half of the Money Matter Show, and welcome back.

1038
00:47:32.519 --> 00:47:34.920
This is the second half a second half hour, second

1039
00:47:34.920 --> 00:47:37.119
hour of the Money Matter Show, and we bring you

1040
00:47:37.480 --> 00:47:40.320
from Greenberg Financial Group. We thank you for joining us

1041
00:47:40.320 --> 00:47:43.280
on this beautiful Sunday morning, and it's supposed to be

1042
00:47:43.280 --> 00:47:46.920
hotter and blazes on Sunday and Monday and then start

1043
00:47:47.000 --> 00:47:50.159
to rain. I hope that that's I hope that's true.

1044
00:47:50.800 --> 00:47:54.480
Really really strong week in the market due to the

1045
00:47:54.599 --> 00:47:58.159
lack of a reaction to Trump's bombs, Trump dropping the

1046
00:47:58.159 --> 00:48:02.599
bombs on Iran, literally lack of a reaction, signaling to

1047
00:48:02.639 --> 00:48:06.320
me that the entire world says, finally somebody did something

1048
00:48:06.320 --> 00:48:09.320
about these lunatics. I hope, I hope that's right. The

1049
00:48:09.360 --> 00:48:11.880
dollar is up three point eight percent, s and P

1050
00:48:11.960 --> 00:48:14.920
five hundred three point four percent has deack up four

1051
00:48:14.960 --> 00:48:20.719
point two percent, so we're off and running right.

1052
00:48:20.760 --> 00:48:23.039
Sebastian, you still got the rustle two thousand down for

1053
00:48:23.079 --> 00:48:25.679
the years down two and a half percent. That's been

1054
00:48:25.880 --> 00:48:28.320
starting to catch a little bit of a bid recently, though.

1055
00:48:28.199 --> 00:48:30.239
It has a good sign. Yes, the S and P

1056
00:48:30.320 --> 00:48:33.440
five hundred up year to date. As of the let's

1057
00:48:33.440 --> 00:48:35.800
say June thirtieth, we got one trading day left. It

1058
00:48:35.960 --> 00:48:38.639
wouldn't expect much on Monday. With a four day week

1059
00:48:38.880 --> 00:48:40.920
or three and a half day week, you wouldn't expect

1060
00:48:41.000 --> 00:48:43.800
much action on Monday. So at the halfway through the year,

1061
00:48:44.119 --> 00:48:46.159
up five percent on the S and P five hundred.

1062
00:48:46.519 --> 00:48:48.880
The annual average rate to return on the S and

1063
00:48:48.920 --> 00:48:53.239
P five hundred action ten percent. So we're halfway through

1064
00:48:53.280 --> 00:48:55.840
the year, we're up five So talk about an average year,

1065
00:48:57.159 --> 00:49:00.039
very average year. What's not what's not average about it?

1066
00:49:00.199 --> 00:49:00.800
Volatility?

1067
00:49:00.840 --> 00:49:04.440
Is it plumbing to twenty percent in April? In April?

1068
00:49:04.920 --> 00:49:07.440
Uh and just freakd the dickens out of people that

1069
00:49:07.519 --> 00:49:11.280
didn't have the right financial plan and hadn't come to

1070
00:49:11.320 --> 00:49:14.880
see you guys, and hadn't been through the financial planning process.

1071
00:49:15.519 --> 00:49:19.320
So we had one of our left wing clients call

1072
00:49:19.440 --> 00:49:23.559
up and got ahold of one of our brokers and said,

1073
00:49:23.599 --> 00:49:27.039
I want to sell my S and P five hundred,

1074
00:49:27.159 --> 00:49:29.039
to which I would have said no, no, you don't.

1075
00:49:29.320 --> 00:49:33.400
You want to buy insurance two times to the downside

1076
00:49:33.400 --> 00:49:36.039
against that. So then when when the insurance started to

1077
00:49:36.519 --> 00:49:38.079
get eaten up, he would say, you know what, sell

1078
00:49:38.159 --> 00:49:41.480
that insurance. I'm good. So but where he's at, he's

1079
00:49:41.519 --> 00:49:43.880
been out of the S and P five hundred pretty

1080
00:49:43.920 --> 00:49:49.159
much since the bottom in April, So it's unfortunate that

1081
00:49:49.159 --> 00:49:51.880
that that that happened. I would have liked to have

1082
00:49:51.920 --> 00:49:53.599
seen him do it a little bit different way, but

1083
00:49:53.679 --> 00:49:54.159
he didn't.

1084
00:49:54.199 --> 00:49:58.519
So some people also a couple of days ago, before

1085
00:49:58.559 --> 00:50:01.440
this Thursday Friday, right the S and P was only

1086
00:50:01.519 --> 00:50:03.800
up about one and a half percent for the year.

1087
00:50:03.880 --> 00:50:04.119
I think.

1088
00:50:04.840 --> 00:50:08.360
So if you think about that, if with current money

1089
00:50:08.400 --> 00:50:11.159
markets being around four percent, you should be up about

1090
00:50:11.159 --> 00:50:13.639
two percent for the year. H So I heard a

1091
00:50:13.639 --> 00:50:15.960
couple you know people call and say, why is my

1092
00:50:16.000 --> 00:50:20.719
account doing less? Like doing worse than my savings account?

1093
00:50:20.719 --> 00:50:24.519
Shouldn't have done better? And again the market dropped a lot,

1094
00:50:24.559 --> 00:50:26.280
and it has come back a lot, but it's come

1095
00:50:26.360 --> 00:50:28.599
back to just pretty much where it is, and now

1096
00:50:28.639 --> 00:50:30.360
it has had a good week this week. So now

1097
00:50:30.360 --> 00:50:32.840
we're up about five percent for the year. But it

1098
00:50:32.960 --> 00:50:36.400
was doing just as well as a bond ladder was doing.

1099
00:50:36.280 --> 00:50:39.360
Well, and that's completely irrelevant.

1100
00:50:39.559 --> 00:50:42.159
And that's also that's also if you were sitting on

1101
00:50:42.159 --> 00:50:43.800
your hands as a money manager about a month and

1102
00:50:43.840 --> 00:50:45.360
a half ago, you know, we were buying at those

1103
00:50:45.440 --> 00:50:47.920
levels when the market was down twenty percent, we were buying.

1104
00:50:48.400 --> 00:50:50.559
Right. The bank will give you four percent on your

1105
00:50:50.559 --> 00:50:52.320
CD because they take the money and put in the

1106
00:50:52.360 --> 00:50:56.559
market and make ten Yeah, pretty sivil, right, So it

1107
00:50:56.599 --> 00:50:59.199
paved the bills or put in real estate, or put

1108
00:50:59.239 --> 00:51:03.119
it in investment vehicles other than you need if you

1109
00:51:03.199 --> 00:51:06.719
need absolute safety, safety comes with a price. We know

1110
00:51:06.840 --> 00:51:10.519
that one of the greatest wealth accumulation vehicles in history

1111
00:51:10.639 --> 00:51:13.760
is the stock market. But the price of admission is volatility.

1112
00:51:14.119 --> 00:51:16.280
The best way to do it is historical averages, and

1113
00:51:16.360 --> 00:51:18.239
especially when you're going into a new fund, if you

1114
00:51:18.280 --> 00:51:20.360
don't know what a fund has been doing, look at

1115
00:51:20.360 --> 00:51:22.760
their perspectives, look at the one year, five year, the

1116
00:51:22.840 --> 00:51:25.559
ten year, and the lifetime performance. And if it's not

1117
00:51:25.599 --> 00:51:27.360
ten percent, then you'd be better off just going in

1118
00:51:27.400 --> 00:51:29.639
the s and P five hundred, you know what I mean.

1119
00:51:30.079 --> 00:51:33.599
Other than that, if you want some risk mitigation, that's

1120
00:51:33.599 --> 00:51:36.039
where we get involved, right. But if you're just looking

1121
00:51:36.039 --> 00:51:38.519
at a pure equity portfolio, just in the S and

1122
00:51:38.519 --> 00:51:40.679
P five hundred. If it's not, if you're going into

1123
00:51:40.719 --> 00:51:44.079
another fund, it better be a better risk returned than

1124
00:51:44.079 --> 00:51:44.519
the S and P.

1125
00:51:44.760 --> 00:51:46.840
I had account that I opened about a year ago,

1126
00:51:46.880 --> 00:51:48.360
and the idea was he was going to put in

1127
00:51:48.559 --> 00:51:51.199
X amount of dollars per month from his business because

1128
00:51:51.199 --> 00:51:53.639
his business was doing very well, and he had not

1129
00:51:53.760 --> 00:51:56.360
put in a penny. And so I called him last

1130
00:51:56.400 --> 00:51:59.239
week and I said, why have you not put in

1131
00:51:59.320 --> 00:52:01.440
a penny? He goes, well, I really haven't seen the

1132
00:52:01.480 --> 00:52:05.360
performance to justify it. I said, you don't understand you

1133
00:52:05.760 --> 00:52:09.760
dollar cost. You keep putting money in, the performance will come, right,

1134
00:52:09.880 --> 00:52:12.480
you know. And when when the performance is not there,

1135
00:52:12.559 --> 00:52:15.360
that's when you're putting money in. And if it's going down,

1136
00:52:15.440 --> 00:52:18.679
you put more money money and because the performance will

1137
00:52:18.719 --> 00:52:21.320
come and you're going to be sitting on your hands going, oh,

1138
00:52:21.320 --> 00:52:24.159
I wish I would have put that money in, and.

1139
00:52:24.079 --> 00:52:26.599
He's yeah, hindsight, it's twenty twenty. You be when you

1140
00:52:26.599 --> 00:52:28.400
see that the market return twenty percent for the year,

1141
00:52:28.440 --> 00:52:30.760
you can't go back on January first and invest.

1142
00:52:30.480 --> 00:52:32.920
It ten percent in the last sixty days.

1143
00:52:32.599 --> 00:52:35.559
But then you can't expect after it's already returned twenty percent,

1144
00:52:35.719 --> 00:52:37.320
then it's going to do another twenty percent.

1145
00:52:37.519 --> 00:52:39.679
Yeah, I mean the todd and I have a prospect

1146
00:52:39.679 --> 00:52:43.679
that I maybe two weeks into my time here at

1147
00:52:43.679 --> 00:52:47.199
Greenberg Financial, he has thought about opening account with us

1148
00:52:47.239 --> 00:52:51.119
for you know, over two years. Now, market's too high,

1149
00:52:51.159 --> 00:52:54.440
market's too high, market's too high. Well here's another all

1150
00:52:54.440 --> 00:52:54.960
time high.

1151
00:52:55.039 --> 00:52:57.559
Yeah. No, And you had a couple of opportunities along

1152
00:52:57.599 --> 00:52:59.760
the way, and when those opportunities came about, you were

1153
00:52:59.800 --> 00:53:04.159
high eat under the bed, you know. The our market,

1154
00:53:04.159 --> 00:53:08.239
the s TOB five hundred last week up three point

1155
00:53:08.280 --> 00:53:11.199
four percent, Chryinga have three point six percent, Europe up

1156
00:53:11.199 --> 00:53:14.719
three point three percent. So it was a global rally

1157
00:53:16.119 --> 00:53:18.719
after the bombs were dropped, which again would adds more

1158
00:53:18.800 --> 00:53:21.599
credence to the belief that maybe the whole world did

1159
00:53:21.679 --> 00:53:23.480
on Iran not have a nuclear weapon.

1160
00:53:23.719 --> 00:53:25.599
You know, we talk a lot about risk on the show,

1161
00:53:25.760 --> 00:53:29.559
the risk tolerance, but something that also people think don't

1162
00:53:29.559 --> 00:53:32.199
think about with the risk return. Obviously, as more risk

1163
00:53:32.320 --> 00:53:35.800
you take, you expect a higher return, but there's a

1164
00:53:35.800 --> 00:53:38.800
couple of other variables that can affect your return as well.

1165
00:53:39.360 --> 00:53:44.639
Like liquidity. E liquid products can normally offer you things

1166
00:53:44.639 --> 00:53:48.679
that liquid products could never and we're talking things about

1167
00:53:48.719 --> 00:53:54.320
like insurance products, annuities, even sometimes other liquid investments. Think

1168
00:53:54.320 --> 00:53:57.079
about if I invest in Uber fifteen years ago, that's

1169
00:53:57.079 --> 00:54:00.000
an e liquid investment. They weren't public, right, so that's

1170
00:54:00.280 --> 00:54:02.280
I'm just basically lighting money on fire. But if they

1171
00:54:02.280 --> 00:54:04.199
do go public, I'm going to make a huge return.

1172
00:54:04.559 --> 00:54:06.880
But it's an e liquid investment. There's no marketability for

1173
00:54:06.920 --> 00:54:08.519
the shares I might be able to actually, you know,

1174
00:54:08.559 --> 00:54:10.519
there's probably not a market for it. And there's a

1175
00:54:10.559 --> 00:54:12.880
lot of those e liquid investments out there there. We

1176
00:54:12.920 --> 00:54:15.679
know about alternative investments that are you know, can only

1177
00:54:15.719 --> 00:54:19.119
be sold every now and then annuities which have surrender

1178
00:54:19.159 --> 00:54:21.920
schedules that have E liquid nature. But all these products

1179
00:54:22.000 --> 00:54:23.960
can offer you a little bit more than what a

1180
00:54:24.000 --> 00:54:27.280
liquid product can do, and that makes sense. On top

1181
00:54:27.320 --> 00:54:31.800
of that, another variable is leverage. If you use more leverage,

1182
00:54:31.880 --> 00:54:36.760
you expect higher risk, which packs your return correct. Right,

1183
00:54:36.800 --> 00:54:39.840
So if you use something like short selling or options

1184
00:54:40.199 --> 00:54:43.559
or margin, that will impact your returns as well. So

1185
00:54:43.719 --> 00:54:45.239
most of the time what we're talking about on this

1186
00:54:45.320 --> 00:54:48.159
show is just vanilla stuff. The s and p. Five

1187
00:54:48.280 --> 00:54:50.920
hundred and how we talk about accepting more risk is

1188
00:54:50.960 --> 00:54:54.079
normally just saying adding more equities to your portfolio, adding

1189
00:54:54.079 --> 00:54:54.800
more stocks.

1190
00:54:55.320 --> 00:54:58.159
How we tell people the more equity exposed you have,

1191
00:54:58.360 --> 00:55:02.159
the better you'll do over time. But not everyone can

1192
00:55:02.239 --> 00:55:06.480
tolerate that level of volatility one hundred percent equally, not everyone.

1193
00:55:07.119 --> 00:55:11.159
So we need to find the level where you are comfortable.

1194
00:55:11.360 --> 00:55:13.400
We want to have as much equity as we can

1195
00:55:13.480 --> 00:55:17.760
possibly have for you and still have you be comfortable, right,

1196
00:55:17.920 --> 00:55:19.679
And then that's what this whole process is about.

1197
00:55:19.760 --> 00:55:22.000
That's what the planning process is. I mean, we're putting

1198
00:55:22.039 --> 00:55:24.320
in all those variables and then trying to find what's

1199
00:55:24.360 --> 00:55:29.199
the best vehicle that maps you on that grid almost

1200
00:55:29.280 --> 00:55:30.119
per se because.

1201
00:55:29.880 --> 00:55:32.239
Then you guys are such a spectacular job. And I've

1202
00:55:32.280 --> 00:55:35.800
said almost every single week, the level of sophistication with

1203
00:55:35.920 --> 00:55:38.719
the plan you do is so far beyond what you

1204
00:55:38.760 --> 00:55:41.920
would expect coming in for the first time. It's so

1205
00:55:42.000 --> 00:55:47.079
far beyond, and your level of knowledge of different things

1206
00:55:47.119 --> 00:55:50.920
that can be done beyond what most people even know exist.

1207
00:55:52.000 --> 00:55:53.960
So if you have not come in for the free

1208
00:55:54.000 --> 00:55:58.480
financial plan, please do so. It's summer, it's quieter We're

1209
00:55:58.519 --> 00:56:01.760
still doing financial plans every day, but instead of three

1210
00:56:01.840 --> 00:56:04.159
or four, maybe we're doing one or two. So if

1211
00:56:04.239 --> 00:56:06.599
you if you have not done taken advantage of the

1212
00:56:06.639 --> 00:56:10.079
free financial plan, please do that. This is a great

1213
00:56:10.280 --> 00:56:13.159
time to do it. Oil was down ten bucks on

1214
00:56:13.159 --> 00:56:15.480
the week and sixty five goal dropped another one hundred

1215
00:56:15.480 --> 00:56:18.960
bucks down to thirty two sixty nine. It jumped up

1216
00:56:19.000 --> 00:56:20.360
pretty good when the bombs fell.

1217
00:56:21.400 --> 00:56:24.639
But the dollar keeps falling as well. The dollars down

1218
00:56:24.679 --> 00:56:26.599
ten percent for the year, and most people be like,

1219
00:56:26.679 --> 00:56:30.320
that's that's really bad. It's pretty good for US three

1220
00:56:30.440 --> 00:56:30.800
or low.

1221
00:56:31.400 --> 00:56:33.719
Yeah, every president in history will tell you they want

1222
00:56:33.760 --> 00:56:36.920
a strong dollar. Not a single one does. Because a

1223
00:56:36.960 --> 00:56:40.519
week dollar is good for business. It really helps our

1224
00:56:40.599 --> 00:56:45.840
multinational companies do better. So don't if you see the

1225
00:56:45.960 --> 00:56:49.119
CNN going bananas about the dollar drop and that's a

1226
00:56:49.119 --> 00:56:49.519
good thing.

1227
00:56:49.840 --> 00:56:53.800
Yeah, and it's not necessari Yes, you're you're losing value

1228
00:56:53.800 --> 00:56:55.519
in relation to other currencies.

1229
00:56:55.559 --> 00:56:56.280
Correct, You're not.

1230
00:56:57.119 --> 00:57:01.199
The dollar itself isn't every currency's evaluing. It's just at

1231
00:57:01.199 --> 00:57:04.480
the rate. It's the value devaluing against itself each other

1232
00:57:04.559 --> 00:57:07.760
at the time. Currencies are all just all fake. Let's

1233
00:57:07.760 --> 00:57:08.559
be real and.

1234
00:57:08.920 --> 00:57:12.159
And the currency, the US dollar tends to move with

1235
00:57:12.400 --> 00:57:15.519
interest rates, and so what that signaling is rates have

1236
00:57:15.639 --> 00:57:18.519
been coming down. The ten year was at five percent

1237
00:57:18.559 --> 00:57:22.280
a couple of months ago, finished at four four twenty

1238
00:57:22.320 --> 00:57:27.239
eight last on Friday. So it's coming down and the

1239
00:57:27.320 --> 00:57:31.119
dollar should come down, That's what happens. And interestingly, when

1240
00:57:31.119 --> 00:57:34.400
the dollar comes down, gold should go up. And so

1241
00:57:34.719 --> 00:57:36.920
gold continues to be in this own little world. That

1242
00:57:37.119 --> 00:57:40.239
relationship between gold and the dollar has been broken for

1243
00:57:40.719 --> 00:57:42.760
months and continues to be broken.

1244
00:57:42.800 --> 00:57:45.519
Copper's killing it, I mean, that's in crazy highest.

1245
00:57:45.719 --> 00:57:47.079
Yeah, So we can get some of some more of

1246
00:57:47.159 --> 00:57:49.880
that copper or concentrate and take it to Wymous so

1247
00:57:49.960 --> 00:57:52.000
the Chinese ships can pick it up and take it

1248
00:57:52.039 --> 00:57:55.320
over there and smelt it, because we don't want those nasty,

1249
00:57:55.400 --> 00:58:00.800
dirty smelters in the United States. We've got two two nasty.

1250
00:58:00.559 --> 00:58:02.320
Dirty smelters, one in Miami, Arizona.

1251
00:58:03.199 --> 00:58:07.599
We got twenty one's in Utah, somewhere in Utah banks.

1252
00:58:08.199 --> 00:58:10.800
The banking ETF was up twenty five percent this year,

1253
00:58:11.159 --> 00:58:13.159
again on the belief that life's going to be better

1254
00:58:13.199 --> 00:58:16.400
under Trump. And sure enough, the Federal Reserve on Wednesday

1255
00:58:16.440 --> 00:58:19.480
for post changes that would lower capital requirements for banks

1256
00:58:20.079 --> 00:58:23.159
that was implemented after the two thousand and eight financial crisis.

1257
00:58:23.639 --> 00:58:27.840
Tweaks to these rules known as enhanced get this enhanced

1258
00:58:28.119 --> 00:58:34.000
supplementary leverage ratio. Remember that that's going to allow the

1259
00:58:34.039 --> 00:58:36.480
nation's most important banks to lend more freely and make

1260
00:58:36.519 --> 00:58:38.599
it easier for them to buy more US government bonds.

1261
00:58:38.639 --> 00:58:40.719
So I found it very interesting that it was a

1262
00:58:40.760 --> 00:58:43.960
split decision, though it wasn't everyone on board with that.

1263
00:58:44.039 --> 00:58:46.639
But I get that. I get that we learned in

1264
00:58:46.679 --> 00:58:48.880
two thousand and eight if you take your eye off

1265
00:58:48.920 --> 00:58:50.280
the banks, they can misbehave.

1266
00:58:51.280 --> 00:58:55.239
And well, yeah, yeah, I mean Basel three is coming

1267
00:58:55.320 --> 00:58:58.079
up too, and that's trying to get to the finish line.

1268
00:58:58.119 --> 00:59:00.320
That's going to be another big banking acts going to

1269
00:59:00.440 --> 00:59:02.519
kind of revolutionize how things are done.

1270
00:59:03.159 --> 00:59:05.639
You guys, I was looking at the reading through some

1271
00:59:05.679 --> 00:59:08.880
things over the week. You guys familiar with mini bars

1272
00:59:09.480 --> 00:59:12.400
in hotels. You probably unfainting a lot of hotels in

1273
00:59:12.440 --> 00:59:15.159
your lives, But the mini bar used to be a

1274
00:59:15.199 --> 00:59:18.039
really really big deal and you'd go in the room.

1275
00:59:18.320 --> 00:59:19.960
First thing, you look at the man, what's in the

1276
00:59:20.000 --> 00:59:22.800
mini bar? Right? And the mini bar would would typically

1277
00:59:22.840 --> 00:59:24.679
be in a cabinet somewhere and you'd open it up

1278
00:59:24.679 --> 00:59:27.360
and there'd be some beer and some wine, and some

1279
00:59:27.400 --> 00:59:29.840
so it is, and a bunch of different kinds of

1280
00:59:29.840 --> 00:59:32.679
candies and stuff. And it was introduced to nineteen seventy

1281
00:59:32.719 --> 00:59:35.719
four by Hilton, and it just took off. It became

1282
00:59:35.840 --> 00:59:38.719
just a huge hit. At one point it accounted for

1283
00:59:38.880 --> 00:59:44.079
five percent of Hilton's total corporate income. Mini bar Wow,

1284
00:59:44.199 --> 00:59:50.239
five percent of Hilton's total corporate income. However, as the

1285
00:59:50.320 --> 00:59:53.559
years have gone by, in the country's moral fiber has changed,

1286
00:59:54.679 --> 00:59:57.199
convenience has faded from the scene. You don't see them anymore.

1287
00:59:58.119 --> 01:00:00.840
You seldom see them in a hotel room. I'm finding

1288
01:00:02.079 --> 01:00:04.960
I bet, I'm trying to think the last time I

1289
01:00:04.960 --> 01:00:07.800
saw a mini barn in a hotel outside of Vegas.

1290
01:00:08.480 --> 01:00:11.760
So you say, well, what why since they were such

1291
01:00:11.800 --> 01:00:13.760
a big money maker. Well, it turns out that, of course,

1292
01:00:13.800 --> 01:00:16.199
it's a logistical nightmare for the hotel and your staff.

1293
01:00:16.199 --> 01:00:18.159
That's obvious, right, But that's part of what you do.

1294
01:00:18.199 --> 01:00:23.519
That's what you get paid for restocking. Okay, that's what

1295
01:00:23.639 --> 01:00:26.119
you get paid for food spoilage. Okay, yeah, I could

1296
01:00:26.119 --> 01:00:29.480
see a little bit but it's mostly candy wine liquor. Well,

1297
01:00:29.599 --> 01:00:32.880
you know what's going to spoil their theft theft, I know,

1298
01:00:33.079 --> 01:00:35.280
rampant theft, rampant theft.

1299
01:00:35.280 --> 01:00:38.679
Well, I mean and saw weights distributed. Now you can

1300
01:00:38.760 --> 01:00:40.679
take a water off of there and then put another water,

1301
01:00:40.840 --> 01:00:43.000
you know, fill the same water bottle up with your

1302
01:00:43.000 --> 01:00:44.519
toilet water, whatever you want to put in there, and

1303
01:00:44.519 --> 01:00:46.400
it's fine. I'm not getting charge.

1304
01:00:46.639 --> 01:00:51.199
Drink, drink the lot, fill it up. No. Is that

1305
01:00:51.280 --> 01:00:54.519
amazing that that that it just became. We became in

1306
01:00:54.599 --> 01:00:58.360
nineteen seventy four. We weren't those people today we are.

1307
01:00:58.679 --> 01:01:02.320
Well, you know it also happened in nineteen before that,

1308
01:01:02.360 --> 01:01:04.000
But nineteen seventy one.

1309
01:01:03.920 --> 01:01:04.880
Oh you know, you weren't here.

1310
01:01:04.880 --> 01:01:05.719
We got off the dollar.

1311
01:01:05.880 --> 01:01:09.599
Oh yeah, I mean yeah, good job.

1312
01:01:10.079 --> 01:01:13.199
Every ever since the gold everything got bad.

1313
01:01:13.360 --> 01:01:18.079
Tricky dick, tricky dick. You know. The McDonald's. The Dow

1314
01:01:18.199 --> 01:01:21.119
component was unchanged on the year, but opened lower on

1315
01:01:21.159 --> 01:01:24.440
Wednesday after they became the latest target of a grassroots

1316
01:01:24.519 --> 01:01:29.559
economic blackout campaign that had previously targeted their major corporation, CUB,

1317
01:01:29.679 --> 01:01:34.280
somewhat unsuccessfully. The Peoples Get This, the People's Union USA.

1318
01:01:34.639 --> 01:01:37.800
This is led by a fifty seven year old meditation

1319
01:01:38.000 --> 01:01:43.599
teacher in Chicago. Meditation teacher John Schwartz, he's now calling

1320
01:01:43.639 --> 01:01:47.960
on people to boycott McDonald's last Tuesday until next till

1321
01:01:48.039 --> 01:01:52.480
tomorrow Next Monday got a boycott McDonald's, explaining in an

1322
01:01:52.480 --> 01:01:58.480
Instagram post that he is demanding ready fair taxes and

1323
01:01:58.639 --> 01:02:07.519
into price gouging McDonald's real equality whatever that means, and

1324
01:02:08.159 --> 01:02:14.159
corporate accountability for what are you serious? As if he

1325
01:02:14.239 --> 01:02:17.599
needed a reason to go to McDonald's, this may be it. Yes,

1326
01:02:17.639 --> 01:02:20.280
I mean, are you are you kidding me? Fair taxes

1327
01:02:20.320 --> 01:02:26.159
and end of price gouging in McDonald's real equality. Okay,

1328
01:02:26.920 --> 01:02:28.840
thankfully the stock end of the week higher.

1329
01:02:28.880 --> 01:02:31.639
I'm bullish on McDonald's because they came out with a mcflurry.

1330
01:02:31.679 --> 01:02:34.280
That's morse addition, like a limited editions.

1331
01:02:34.480 --> 01:02:35.119
That sounds good.

1332
01:02:35.239 --> 01:02:36.039
It was really good.

1333
01:02:36.119 --> 01:02:37.719
That sounds good. If I was just tall and skinny

1334
01:02:37.719 --> 01:02:38.719
of you, I'd go have a couple.

1335
01:02:39.519 --> 01:02:40.360
You just have one?

1336
01:02:40.840 --> 01:02:43.760
Yeah, Well I'd have to have two. That's who I am.

1337
01:02:44.000 --> 01:02:46.800
That's who I am. We got a little little crypto

1338
01:02:46.880 --> 01:02:50.880
news two Republican senators finding the debut of framework for

1339
01:02:51.000 --> 01:02:53.320
a major building would set the rules of the road

1340
01:02:53.440 --> 01:02:54.920
for digital assets time.

1341
01:02:55.079 --> 01:02:57.159
Love, Senator Loomis, it works hard.

1342
01:02:58.000 --> 01:03:01.400
It's going to define crypto as whether it's a commodity

1343
01:03:01.480 --> 01:03:03.760
or security. And you and I've talked about this a lot.

1344
01:03:03.840 --> 01:03:06.559
It's going to allow crypto exchanges to register with commodity

1345
01:03:06.599 --> 01:03:09.880
futures and reduce the SEC's involvement.

1346
01:03:10.400 --> 01:03:15.360
Yeah, I'm not. I don't like crypto, so I hope

1347
01:03:15.360 --> 01:03:16.920
they classify mes securities.

1348
01:03:16.960 --> 01:03:20.480
Okay, so you like bitcoin, but you don't like crypto, correct,

1349
01:03:20.639 --> 01:03:21.760
explain the different.

1350
01:03:21.920 --> 01:03:26.079
Crypto is run by teams people, and bitcoin has already

1351
01:03:26.079 --> 01:03:31.079
been classified as property by the irs, property by itself.

1352
01:03:31.519 --> 01:03:34.760
It's just like anything. It's it's really like a commodity.

1353
01:03:34.840 --> 01:03:37.639
But when you have these other teams that are basically

1354
01:03:37.719 --> 01:03:40.440
just corporations. If I make a coin that me and

1355
01:03:40.480 --> 01:03:44.719
Sebastian run, it's no different than me in Sebastian creating

1356
01:03:44.760 --> 01:03:47.599
a fund, right right, And so why should the fund

1357
01:03:47.679 --> 01:03:49.800
have to go through the process of creating a perspective

1358
01:03:49.880 --> 01:03:52.000
to tell the investors what they're actually investing in so

1359
01:03:52.000 --> 01:03:54.679
that don't lose money. If me and Sebastian just create

1360
01:03:54.719 --> 01:03:57.760
a crypto coin and then I make a whole bunch

1361
01:03:57.800 --> 01:03:59.800
of money on it and then pull all the money

1362
01:03:59.800 --> 01:04:01.760
out off of them, and a whole bunch of people

1363
01:04:01.800 --> 01:04:03.800
lose money because I didn't tell them what they're actually

1364
01:04:03.880 --> 01:04:06.559
invested in. That seems like the government not doing their

1365
01:04:06.639 --> 01:04:08.920
job of making sure that if you're going to have

1366
01:04:09.000 --> 01:04:11.800
these perspectives, this seems like a perfect place to have

1367
01:04:11.840 --> 01:04:15.360
them for crypto. And it's specifically these ethereums run by

1368
01:04:15.360 --> 01:04:18.039
a group of people. I mean, it's not that it's

1369
01:04:18.119 --> 01:04:21.679
not decent. There's no actual like that's the difference with bitcoin.

1370
01:04:21.719 --> 01:04:24.440
There's no one, a regulating body over it.

1371
01:04:24.880 --> 01:04:26.639
And so that that's to me. I think they all

1372
01:04:26.679 --> 01:04:30.480
should be classified securities, but it would help the landscape

1373
01:04:30.480 --> 01:04:32.880
if the classified as commodities because of just regulation.

1374
01:04:33.079 --> 01:04:36.320
So yeah, and there does need to be some form

1375
01:04:36.320 --> 01:04:38.559
of regulation there just because again it's kind of why

1376
01:04:38.599 --> 01:04:40.519
crypto gets such a bad rap. You have you hear

1377
01:04:40.639 --> 01:04:42.800
so many of these pump and dump schemes. You know

1378
01:04:42.920 --> 01:04:45.599
that people get there the rug pulled out from underneath them.

1379
01:04:45.920 --> 01:04:47.960
There's a lot of scams in this industry in it

1380
01:04:48.360 --> 01:04:50.519
and that that's the problem. You know, you have to

1381
01:04:50.559 --> 01:04:52.719
get the bad stuff out to focus on the good.

1382
01:04:53.039 --> 01:04:55.400
And I think this potentially is going to highlight the bad.

1383
01:04:56.079 --> 01:04:58.599
Don't you think that the industry would like to see

1384
01:04:58.639 --> 01:05:01.760
more regulation. They like to know where the lines are.

1385
01:05:03.119 --> 01:05:04.599
I mean, it's kind of like playing in a soccer

1386
01:05:04.599 --> 01:05:05.559
field with no line.

1387
01:05:05.599 --> 01:05:07.199
Well, I don't know, they've I mean a lot of

1388
01:05:07.239 --> 01:05:10.719
these people are kind of those anarcho capitalists, libertarian type

1389
01:05:10.760 --> 01:05:14.360
of mindset. Good point, and they're not. They're loving the

1390
01:05:14.360 --> 01:05:17.760
government to begin with, right, They're coming from that standpoint

1391
01:05:17.840 --> 01:05:19.400
of we want to be away, we want to be

1392
01:05:19.440 --> 01:05:20.280
free type of things.

1393
01:05:20.360 --> 01:05:25.199
So yeah, so maybe not. Huh yeah. Keeps hearing little

1394
01:05:25.199 --> 01:05:27.239
snippets about the big beautiful bill. You know, we said

1395
01:05:27.320 --> 01:05:29.639
last week they're never going to make their July fourth deadline.

1396
01:05:29.760 --> 01:05:31.760
They figured out o a way to do it. Did

1397
01:05:31.800 --> 01:05:35.360
you see that you can't go home, You can't go home,

1398
01:05:35.440 --> 01:05:39.239
tells she's done. Yeah, So no fourth or July holiday

1399
01:05:39.280 --> 01:05:41.599
for you, no fireworks for you.

1400
01:05:41.639 --> 01:05:43.599
Why weren't they able to do that in past years?

1401
01:05:44.159 --> 01:05:46.440
They have They have, They have done that before with

1402
01:05:46.519 --> 01:05:48.920
other holidays and things. But uh, yeah, that's what they've

1403
01:05:48.960 --> 01:05:54.679
decided now. The majority leader in the Senate said, nobody's

1404
01:05:54.679 --> 01:05:57.480
going home until this is done. So you want to

1405
01:05:57.519 --> 01:06:00.960
get a really crappy piece of legs, do it this way.

1406
01:06:01.519 --> 01:06:04.440
But then also once it goes through the Senate, it's

1407
01:06:04.440 --> 01:06:05.480
going to go back to the House.

1408
01:06:05.639 --> 01:06:08.920
Well, they're working in reconciliation right now. So this is

1409
01:06:09.000 --> 01:06:12.039
as I understand it, and I'm certainly no legislative genius,

1410
01:06:12.079 --> 01:06:15.079
but as I understand that the House and Senate conferees

1411
01:06:15.119 --> 01:06:17.840
are working together to find something that's going to be

1412
01:06:17.880 --> 01:06:19.000
palatable to both sides.

1413
01:06:19.119 --> 01:06:21.000
That's the problem with I mean, I don't feel like

1414
01:06:21.920 --> 01:06:26.440
ninety of the population understands how our political system actually works,

1415
01:06:26.480 --> 01:06:29.039
like to get a like you know, how they had

1416
01:06:29.039 --> 01:06:30.920
the school rock of how to get a bill cross

1417
01:06:31.039 --> 01:06:33.079
Capitol Hill and it was really fun and easy to

1418
01:06:33.159 --> 01:06:33.840
understand what I have.

1419
01:06:33.880 --> 01:06:34.320
That was fun.

1420
01:06:34.519 --> 01:06:38.760
Yeah, I don't think it's like now a little bit

1421
01:06:38.800 --> 01:06:39.280
that I think.

1422
01:06:39.320 --> 01:06:41.480
So it's not like that at all anymore.

1423
01:06:41.639 --> 01:06:43.719
A couple of the couple of beneficiar.

1424
01:06:44.239 --> 01:06:46.239
Just one little thing that that big beautiful bill with

1425
01:06:46.280 --> 01:06:49.360
that I saw that was kind of interesting. Medicare and

1426
01:06:49.400 --> 01:06:55.880
Obamacare recipients must work eighty hours a month to qualify

1427
01:06:56.159 --> 01:06:59.440
in that bill eighty hours a month or do twenty

1428
01:06:59.440 --> 01:07:01.960
hours or community serving me in twenty hours a week,

1429
01:07:01.960 --> 01:07:03.440
which I think is a great thing. It's kind of

1430
01:07:03.440 --> 01:07:05.480
the same when you get paid for your an able

1431
01:07:05.519 --> 01:07:06.280
body person.

1432
01:07:06.360 --> 01:07:08.000
Yeah, and that's the other that.

1433
01:07:08.000 --> 01:07:10.119
Was the first thing that came to mind with Jimi Christmas.

1434
01:07:10.159 --> 01:07:14.519
What if you're a quadrantlate, it's not very it's gonna

1435
01:07:14.519 --> 01:07:15.679
be impossible.

1436
01:07:15.320 --> 01:07:17.239
Right, And he even says if you're under I think

1437
01:07:17.519 --> 01:07:20.440
sixteen or over seventy five, it doesn't apply to you.

1438
01:07:20.920 --> 01:07:22.480
And you have to be an able body person in

1439
01:07:22.480 --> 01:07:23.880
between that. We're trying to get rid of the free

1440
01:07:25.239 --> 01:07:28.760
kicking off the people that can't work, you know. And

1441
01:07:28.800 --> 01:07:31.000
that's what all the commercials are going to say, they're

1442
01:07:31.000 --> 01:07:33.800
cutting medicaid. This girl's not, obviously, she's going to keep

1443
01:07:33.800 --> 01:07:36.239
getting it, all right. It's the people that are taking

1444
01:07:36.239 --> 01:07:37.239
advantage of the system.

1445
01:07:38.199 --> 01:07:40.920
One of one of these, one of these vagrants or hope,

1446
01:07:40.960 --> 01:07:42.280
what's what do you want to call them, just wandering

1447
01:07:42.320 --> 01:07:47.880
around town that I'm familiar with, has an ATM card.

1448
01:07:48.679 --> 01:07:50.880
I've actually seen her at the ATM machine and get

1449
01:07:50.880 --> 01:07:53.360
any money. So I don't know who puts money in

1450
01:07:53.480 --> 01:07:55.639
the account. Could be a government.

1451
01:07:55.840 --> 01:07:58.000
How do you have an address on your account?

1452
01:07:58.960 --> 01:08:01.280
That's a good, good point. You need an address here

1453
01:08:01.280 --> 01:08:01.800
and there.

1454
01:08:04.639 --> 01:08:05.000
Street.

1455
01:08:05.360 --> 01:08:09.679
I don't know. It's interesting, you know, it really is interesting.

1456
01:08:09.719 --> 01:08:12.400
And I know that the city council fastest ordinance where

1457
01:08:12.480 --> 01:08:15.400
you can't be on the median uh anymore. Now they

1458
01:08:15.400 --> 01:08:18.119
passed ordans, they're fine, and they failed to pass the

1459
01:08:18.239 --> 01:08:20.359
ordinance you could not camp in the wash. Did you

1460
01:08:20.359 --> 01:08:22.960
see where they've now done that? Now came back then? Now, no,

1461
01:08:23.199 --> 01:08:25.760
we're camping in the wash good. Uh. Yeah, it's it's

1462
01:08:25.840 --> 01:08:27.840
kind of bizarre. The whole thing is bizarre.

1463
01:08:29.239 --> 01:08:31.359
People don't Sometimes when I'm on the riverwalk, I see,

1464
01:08:31.399 --> 01:08:33.000
you know, people taking their dogs down there and throwing

1465
01:08:33.000 --> 01:08:35.039
their balls, and I just think about, like, I don't know,

1466
01:08:35.279 --> 01:08:37.239
what if my dogs stepped on a needle or something,

1467
01:08:37.279 --> 01:08:39.199
because there's a bunch of tents out here.

1468
01:08:39.319 --> 01:08:41.199
That's when I was on the river path by Brandy

1469
01:08:41.199 --> 01:08:43.399
Fenn Park the other day and here's just this big

1470
01:08:43.520 --> 01:08:46.119
bubble in the wash down. What in Heaven's name is out.

1471
01:08:45.960 --> 01:08:47.720
Look, it's a neighborhood. It's a neighborhood.

1472
01:08:48.479 --> 01:08:51.439
Neighborhood in the neighborhood. So anyway, they're not supposed to

1473
01:08:51.439 --> 01:08:56.000
be on the medians and uh uh, one lady, that's

1474
01:08:56.239 --> 01:08:58.720
that's by where I live, is out there all the time.

1475
01:08:58.960 --> 01:09:01.840
The elderly lady, I said, I said, do you understand

1476
01:09:01.840 --> 01:09:03.399
there's a two hundred and fifty dollars fine now for

1477
01:09:03.439 --> 01:09:05.520
your contry? Goes Oh, I'm seventy one. I have no

1478
01:09:05.640 --> 01:09:06.239
other choice.

1479
01:09:06.319 --> 01:09:08.199
You know you're sive.

1480
01:09:08.239 --> 01:09:10.600
I said, I'm older than you are and I still

1481
01:09:10.600 --> 01:09:12.880
work full time. What are you doing? You know that

1482
01:09:13.119 --> 01:09:15.680
there are other options out there. I feel bad for

1483
01:09:15.720 --> 01:09:21.279
people that are mentally uh challenged. That's tough. I mean

1484
01:09:21.319 --> 01:09:23.399
that's real, real tough. But there's an awful lot of people

1485
01:09:23.399 --> 01:09:25.479
out there that just simply refuse to give up drugs.

1486
01:09:26.359 --> 01:09:29.640
Nike Nikes good? You do you want to talk about Nike?

1487
01:09:29.920 --> 01:09:31.399
You you pointed it out to me on Friday.

1488
01:09:31.680 --> 01:09:31.880
Yeah.

1489
01:09:31.960 --> 01:09:33.359
I was just gonna say it was a nice comeback,

1490
01:09:33.399 --> 01:09:35.159
and you had a great points on the fact that

1491
01:09:35.279 --> 01:09:38.239
you know, it seems like everybody's trying to find the

1492
01:09:38.279 --> 01:09:40.119
stocks that have lagged on Friday.

1493
01:09:40.239 --> 01:09:42.359
Yeah, we've got a bunch of foe all going on.

1494
01:09:42.439 --> 01:09:44.159
If you're missing out, and by I gotta get in,

1495
01:09:44.279 --> 01:09:46.319
I will kind of get in on the videos at an

1496
01:09:46.239 --> 01:09:48.880
all time high and uh and uh meta is an

1497
01:09:48.880 --> 01:09:52.960
all time high and microns are on forty What do

1498
01:09:52.960 --> 01:09:55.279
you got? How about how about Apple? How about Nike?

1499
01:09:55.319 --> 01:09:57.399
How about United Healthcare? These are all in the toilet.

1500
01:09:57.600 --> 01:09:59.319
Maybe that's what we ought to be doing. So I

1501
01:09:59.319 --> 01:10:02.159
think that's what happens as you get to the later

1502
01:10:02.319 --> 01:10:05.359
stages of one of these moves. And I'm not suggesting

1503
01:10:05.760 --> 01:10:08.960
the market rallies over because I think with Trump and

1504
01:10:09.079 --> 01:10:16.359
the UH, lower interest rates, declining regulations, going over the

1505
01:10:16.399 --> 01:10:18.840
next three and a half years should be pretty good.

1506
01:10:18.840 --> 01:10:21.000
We thought that when he got elected. I still think

1507
01:10:21.039 --> 01:10:23.560
that we've had a heck of a run here, but

1508
01:10:23.600 --> 01:10:25.520
we're not. We're only up five percent from when he

1509
01:10:25.560 --> 01:10:29.119
became president. That's happened exactly doubled, you know, so we

1510
01:10:29.199 --> 01:10:31.239
got I think we probably have a long way to go.

1511
01:10:31.279 --> 01:10:34.800
I'm pretty optimistic. I don't have the trumptomism that some have,

1512
01:10:35.000 --> 01:10:39.960
but I believe that the optimism is, in all fairness,

1513
01:10:40.000 --> 01:10:43.039
a lot of it is is on mister Trump. He's

1514
01:10:43.159 --> 01:10:46.840
he's causing it as being a guy that we finally

1515
01:10:47.439 --> 01:10:49.520
have a president. One of the biggest problems we've had

1516
01:10:49.560 --> 01:10:51.920
as a country is we won't let our military do

1517
01:10:52.000 --> 01:10:55.800
what our military can do because we're afraid of hurting

1518
01:10:55.840 --> 01:10:59.479
somebody's feelings, and I don't see that with Trump, so

1519
01:10:59.560 --> 01:11:02.520
that that's good thing. I don't see him being the

1520
01:11:02.600 --> 01:11:05.880
least bit concerned about being isolated from the rest of

1521
01:11:05.960 --> 01:11:10.279
the world because we were bad actors. You know. I

1522
01:11:10.319 --> 01:11:17.279
see him really sincerely wanting to make this country better.

1523
01:11:17.800 --> 01:11:21.319
And you may not agree with the policies that he

1524
01:11:21.560 --> 01:11:24.239
is implementing or trying to implement. I don't agree with

1525
01:11:24.319 --> 01:11:28.439
all of them. Because he's he's moving fast and hitting hard.

1526
01:11:28.520 --> 01:11:30.159
Did you see him drop the f bum the other day.

1527
01:11:30.279 --> 01:11:31.279
Yeah, that was pretty funny.

1528
01:11:31.359 --> 01:11:34.239
That was awesome, And I think that's one of the

1529
01:11:34.279 --> 01:11:36.479
things I like about him so much, because he's you know,

1530
01:11:36.720 --> 01:11:38.720
you humanize him and see.

1531
01:11:38.479 --> 01:11:40.680
He get frustrated. We all get frustrated, and and that

1532
01:11:40.720 --> 01:11:42.840
slips out from time to time. We all get frustrated.

1533
01:11:42.880 --> 01:11:45.039
There was a passion there, there was real passion in it. And

1534
01:11:45.039 --> 01:11:47.640
then I saw a ficture of him on Facebook with

1535
01:11:47.760 --> 01:11:49.439
the squear jar in front of him and putting a

1536
01:11:49.479 --> 01:11:52.279
quarter in. You know, we'll be back with more than

1537
01:11:52.359 --> 01:11:55.000
Money Matter Show after this message. Thanks again for joining us.

1538
01:11:55.560 --> 01:11:57.279
Welcome back to the Money Matter Show. My name is

1539
01:11:57.279 --> 01:11:59.359
Sebastian Bors seeing him here with Todd Glick Junior and

1540
01:11:59.439 --> 01:12:01.880
David Dave Sherwood or.

1541
01:12:01.880 --> 01:12:02.680
David either one.

1542
01:12:02.800 --> 01:12:04.520
Yeah, you know, I like Dave.

1543
01:12:04.560 --> 01:12:06.439
I think I'd be called worse. Dave is what I

1544
01:12:06.600 --> 01:12:08.840
like to go by because I'm kind of an informal

1545
01:12:08.880 --> 01:12:09.439
sort of guy.

1546
01:12:09.600 --> 01:12:12.680
You know, one of the biggest s beneficiaries or two

1547
01:12:12.680 --> 01:12:15.439
of the biggest s beneficiaries off of this oil dropping

1548
01:12:15.680 --> 01:12:18.720
was airlines and cruise liners. You had a Carnival they

1549
01:12:18.840 --> 01:12:21.239
jumped in nearly seven percent after they released their earnings,

1550
01:12:21.279 --> 01:12:23.000
and then you had a whole bunch of airline stocks

1551
01:12:23.000 --> 01:12:26.279
going up over five percent. You had Frontier Group, Alaska Airlines,

1552
01:12:26.319 --> 01:12:29.760
American Airlines, and United Airlines all going up over five

1553
01:12:29.800 --> 01:12:30.520
percent this week.

1554
01:12:30.640 --> 01:12:33.039
This is where you have to be really careful and

1555
01:12:33.159 --> 01:12:36.680
you're investing not to react to the headlines. Yeah, right,

1556
01:12:36.760 --> 01:12:40.039
because when the bombs dropped, what went into toilet? Right,

1557
01:12:40.239 --> 01:12:43.239
cruise line, cruise lines, the travel companies, the hotels, they

1558
01:12:43.279 --> 01:12:46.720
all went the toilet and within four days they're back

1559
01:12:46.720 --> 01:12:47.319
to where they were.

1560
01:12:47.760 --> 01:12:50.159
So you actually, yeah, you.

1561
01:12:50.119 --> 01:12:52.119
Really have to Yeah, you really have to take a

1562
01:12:52.600 --> 01:12:55.039
deep breath when you see something like that and say

1563
01:12:55.199 --> 01:12:58.000
maybe I'll set this out, you know, maybe I'll set

1564
01:12:58.039 --> 01:12:58.319
this out.

1565
01:12:58.359 --> 01:13:00.960
Did you guys see that new Netflix special on Carnival

1566
01:13:01.399 --> 01:13:02.359
about the poop Cruise?

1567
01:13:02.520 --> 01:13:03.800
No, what is it about?

1568
01:13:03.880 --> 01:13:06.640
Go check it out. There's some boats that Carnival had

1569
01:13:06.680 --> 01:13:09.119
and they they were left out at sea for like

1570
01:13:09.159 --> 01:13:12.439
ten days because they had some malfunctions, their power outages

1571
01:13:12.479 --> 01:13:16.079
and whatnot, and all the toilets ended up overflowing. Because

1572
01:13:16.079 --> 01:13:18.119
if you think about it, you know, tens of thousands

1573
01:13:18.119 --> 01:13:21.560
of people on this boats the toilets don't work. What

1574
01:13:21.600 --> 01:13:22.039
do you do?

1575
01:13:22.479 --> 01:13:23.960
Sure it's a.

1576
01:13:23.920 --> 01:13:24.800
Documentary about that.

1577
01:13:25.399 --> 01:13:27.960
It sounds like sounds like.

1578
01:13:28.520 --> 01:13:31.039
I'm not taking I wouldn't take a Carnival cruise.

1579
01:13:35.680 --> 01:13:37.920
No. Nordis one of your old favorites. Have you given

1580
01:13:38.000 --> 01:13:38.399
up on it?

1581
01:13:38.520 --> 01:13:40.039
What do you mean? Have I given up on it?

1582
01:13:40.159 --> 01:13:41.319
It's done really well.

1583
01:13:45.359 --> 01:13:48.439
Has been a big fan of Nobel Nordi, who's a

1584
01:13:48.479 --> 01:13:51.840
competitor of Lily, and it was down fifteen percent this year,

1585
01:13:51.920 --> 01:13:55.279
fifty percent off of his high dropped another five percent

1586
01:13:55.319 --> 01:13:57.439
at the opening on Monday, after the latest result for

1587
01:13:57.479 --> 01:14:02.000
the company's next generation obesity drug disappointing and showed no

1588
01:14:02.119 --> 01:14:04.920
clear advantage over Lily. This is the this is the

1589
01:14:04.920 --> 01:14:07.479
interesting part. Then the company also announced that ended this

1590
01:14:07.600 --> 01:14:10.760
collaboration with Hims and Hers, and that sent Hymns and

1591
01:14:10.760 --> 01:14:14.119
Hers down thirty percent. Talk about a Vosso stock that

1592
01:14:14.199 --> 01:14:18.840
you want to stock to to play with us, my good.

1593
01:14:19.079 --> 01:14:22.680
One and yeah, I know you want to talk crap

1594
01:14:22.720 --> 01:14:24.279
to me or whatever you want to say about.

1595
01:14:24.079 --> 01:14:26.199
No, no, I see, and I understood when.

1596
01:14:26.119 --> 01:14:27.319
You think that that's one of the things I want

1597
01:14:27.359 --> 01:14:30.439
to talk about, Like, you know, yeah, if you hear

1598
01:14:30.479 --> 01:14:32.079
back on the show, I've been talking about the stock

1599
01:14:32.159 --> 01:14:33.920
for maybe a year and a half. I bought it

1600
01:14:33.960 --> 01:14:35.319
at one hundred once one forty.

1601
01:14:35.560 --> 01:14:35.760
You know.

1602
01:14:36.000 --> 01:14:39.520
Yeah, now at this point it's in the toilets, but

1603
01:14:39.680 --> 01:14:41.680
you get back into it. You know, it's a good company.

1604
01:14:42.199 --> 01:14:44.399
You look for things that have gone being up and

1605
01:14:44.439 --> 01:14:45.159
this is one of them.

1606
01:14:45.399 --> 01:14:47.840
Things I just took away from this article about about

1607
01:14:47.840 --> 01:14:51.760
Lily and about him and Hers and about Noble nordisk Is.

1608
01:14:51.920 --> 01:14:55.840
A recent study showed that thirty percent of the weight

1609
01:14:55.920 --> 01:15:01.399
loss from these drugs is muscle. Thirty percent. That's pretty significant.

1610
01:15:02.000 --> 01:15:06.600
I think if you I think, as as time goes

1611
01:15:06.600 --> 01:15:08.279
on and you get to be an older person, if

1612
01:15:08.319 --> 01:15:11.840
you've given up thirty percent of your muscle to look better.

1613
01:15:12.720 --> 01:15:13.760
It's going to be concerning for.

1614
01:15:13.720 --> 01:15:16.039
That, I might be concerning. I don't know. Maybe maybe

1615
01:15:16.079 --> 01:15:19.960
that offsets the additional trouble you get from the weight.

1616
01:15:20.199 --> 01:15:22.560
I don't know, but it's it'd be aware that if

1617
01:15:22.600 --> 01:15:25.159
you are on Ozempi or Lily number one, it's a

1618
01:15:25.199 --> 01:15:28.359
lifetime commitment number two thirty percent of what you're losing

1619
01:15:28.439 --> 01:15:28.880
his muscle.

1620
01:15:29.000 --> 01:15:31.039
Yeah, it'll be interesting years down the.

1621
01:15:31.079 --> 01:15:35.840
Road, Todd, how about housing? Not good? KB Holmes already

1622
01:15:35.840 --> 01:15:38.199
down twenty percent this year, lower on Tuesday after the

1623
01:15:38.199 --> 01:15:42.199
builder lowered is full year guidance, saying the market has softened.

1624
01:15:42.199 --> 01:15:44.079
We've been talking about this for a long time now,

1625
01:15:45.000 --> 01:15:48.920
about the market softening. And my real estate friend here

1626
01:15:48.960 --> 01:15:51.600
and here in Trussa, one of the top real estate

1627
01:15:51.640 --> 01:15:55.159
agents in town, told me two weeks ago and I

1628
01:15:55.600 --> 01:15:58.079
said on the show that the market here is like

1629
01:15:58.159 --> 01:16:00.880
blood in the streets. He said, you're just absolutely nothing

1630
01:16:00.880 --> 01:16:04.640
going on. It's really really bad. And then we found

1631
01:16:04.680 --> 01:16:06.560
out later in the week the sales of new single

1632
01:16:06.600 --> 01:16:10.520
family homes plunged thirteen point seven month over month to

1633
01:16:10.600 --> 01:16:14.680
a seasonally adjusted low. That sequential drop marks the sharpest

1634
01:16:14.720 --> 01:16:18.039
decline since June of twenty two. Oh, that's not that

1635
01:16:18.159 --> 01:16:20.479
long ago. See how three years ago was this bad

1636
01:16:20.560 --> 01:16:22.520
or worse? And we recovered from that? Right?

1637
01:16:23.119 --> 01:16:25.560
Yeah, and again I had another conversation with my mom,

1638
01:16:25.600 --> 01:16:30.039
who's definitely in the game there, and she's definitely says

1639
01:16:30.079 --> 01:16:32.760
it's all land and infrastructure. That's what's going to be

1640
01:16:33.039 --> 01:16:37.560
the next three to five years, the thing that we need.

1641
01:16:38.199 --> 01:16:42.359
Tucson lacks infrastructure incredibly right now. It can't even handle

1642
01:16:42.479 --> 01:16:44.880
the amount of people it has now. And there's more

1643
01:16:45.000 --> 01:16:49.399
homes getting built, not necessarily in Tucson, but the greater

1644
01:16:49.479 --> 01:16:51.800
area of Tucson, No, I hear it. So when you

1645
01:16:51.800 --> 01:16:55.840
think about Sarreta Vail Morana, those roads are not I

1646
01:16:55.880 --> 01:16:58.439
mean there's the roads, but they're not designed for a

1647
01:16:58.520 --> 01:17:01.119
lot of people, and there's becoming a lot of people

1648
01:17:01.159 --> 01:17:04.800
there and the infrastructure can't even handle it now, let

1649
01:17:04.880 --> 01:17:08.199
alone have a whole bunch more communities, more businesses. You

1650
01:17:08.279 --> 01:17:11.239
might get a couple of data centers on top of that.

1651
01:17:11.279 --> 01:17:14.840
That's why Senator Mike Lee out of Utah is try

1652
01:17:14.920 --> 01:17:16.880
to throw into that big beautiful bill that they want

1653
01:17:16.920 --> 01:17:21.239
to sell quite a bit of land across the nation,

1654
01:17:21.359 --> 01:17:23.960
and there's been quite a bit of a fifty to

1655
01:17:24.000 --> 01:17:27.119
fifty if not more pushback on that side of things.

1656
01:17:27.159 --> 01:17:30.079
Many people are saying that they shouldn't do that. As

1657
01:17:30.119 --> 01:17:32.000
far as we're were, it was like twenty miles around

1658
01:17:32.039 --> 01:17:35.000
population center, so it seems like they've gone it down

1659
01:17:35.039 --> 01:17:39.520
to around five miles around the center. I have a

1660
01:17:39.560 --> 01:17:42.000
guy on Instagram that I follow that has been pretty

1661
01:17:42.039 --> 01:17:42.520
out here.

1662
01:17:42.560 --> 01:17:44.119
I was here to people on left sales. They're going

1663
01:17:44.119 --> 01:17:47.840
to sell Canyon now, They're not going to sell to that.

1664
01:17:48.079 --> 01:17:49.279
But I put houses right there.

1665
01:17:49.439 --> 01:17:50.800
Oh lord, And.

1666
01:17:51.319 --> 01:17:52.960
You know, I talked to my mom about that. She's like,

1667
01:17:52.960 --> 01:17:54.840
I don't know how much that would help because most

1668
01:17:54.840 --> 01:17:57.920
of that land is not necessarily great for homes. It

1669
01:17:58.000 --> 01:18:00.680
might be great for like data center or business to

1670
01:18:00.720 --> 01:18:04.079
come into, but not necessarily great for homes. But that's

1671
01:18:04.159 --> 01:18:06.000
that's really the key. I mean, we have to get

1672
01:18:06.039 --> 01:18:10.840
some of this land available, I think to have Tucson

1673
01:18:11.319 --> 01:18:12.960
really keep its growth rate.

1674
01:18:13.159 --> 01:18:15.119
I think that's important. I think right now, though it

1675
01:18:15.159 --> 01:18:18.000
seems to be just a lack of demand, we're just

1676
01:18:18.319 --> 01:18:20.680
there's anybody wanting to buy homes right now because there's a.

1677
01:18:20.720 --> 01:18:23.560
Couple at these prices well, there's always that.

1678
01:18:23.840 --> 01:18:25.600
You've got two other two things that work here, you've

1679
01:18:25.600 --> 01:18:28.760
got all of the economic uncertainty. Regardless of what you

1680
01:18:28.840 --> 01:18:31.920
think about Trump. There is certainly a high level of

1681
01:18:32.800 --> 01:18:37.239
volatility right now which has created uncertainty. My wife is

1682
01:18:37.279 --> 01:18:40.960
a does interior design, and she's feeling that she's hearing

1683
01:18:40.960 --> 01:18:42.680
it from clients that they want to wait until things

1684
01:18:42.680 --> 01:18:46.800
settle down in the economy settled down internationally, so that's

1685
01:18:46.840 --> 01:18:48.720
a factor, and then mortgage rates continue to be up

1686
01:18:48.800 --> 01:18:52.039
round seven until we get some relief in that area.

1687
01:18:52.159 --> 01:18:54.039
I don't know what's going to cause relief and give

1688
01:18:54.119 --> 01:18:55.000
us relief in that area.

1689
01:18:55.039 --> 01:18:58.359
Todd again, I think you're just going to have continued

1690
01:18:58.359 --> 01:19:00.479
home prices until you find a place where a lot

1691
01:19:00.520 --> 01:19:02.880
of people jump into the market because it's where they

1692
01:19:02.880 --> 01:19:03.279
want it.

1693
01:19:03.960 --> 01:19:05.560
You buy a home because you think it's going to

1694
01:19:05.560 --> 01:19:08.199
be more valuable in a year. That's the only reason

1695
01:19:08.199 --> 01:19:10.479
to buy it. If it's not gonna be more valuable

1696
01:19:10.479 --> 01:19:12.199
in a year, there's no reason to buy the house, right.

1697
01:19:13.039 --> 01:19:14.760
I guess control your own space. Maybe.

1698
01:19:15.079 --> 01:19:16.840
I think a lot of people are getting to the

1699
01:19:16.840 --> 01:19:18.880
point where they don't want to keep paying rent, so

1700
01:19:18.920 --> 01:19:22.640
they're okay with paying a mortgage, even even if the

1701
01:19:22.640 --> 01:19:25.399
house does go down in a year, because you know,

1702
01:19:25.479 --> 01:19:27.600
in five ten years it's going to be worth something,

1703
01:19:27.640 --> 01:19:29.479
Whereas if you keep paying rent for five ten years,

1704
01:19:29.479 --> 01:19:30.720
you're not going to end up with anything.

1705
01:19:30.880 --> 01:19:32.800
And we know one thing that's happened over time with

1706
01:19:32.920 --> 01:19:36.640
houses and with real estate and with collectibles and paintings

1707
01:19:36.680 --> 01:19:38.960
and all of those things is they always go higher

1708
01:19:39.000 --> 01:19:42.760
over time, always go higher over time. So if you

1709
01:19:42.920 --> 01:19:47.239
bought a home and it's gone down, I saw that

1710
01:19:47.279 --> 01:19:50.640
with my next door neighbors. They had a home that

1711
01:19:50.680 --> 01:19:53.560
they bought right at the top of the market back

1712
01:19:53.600 --> 01:19:56.439
in two thousand and seven, and it just fell apart

1713
01:19:56.560 --> 01:19:59.560
on them and they just finally sold it. It took

1714
01:19:59.640 --> 01:20:02.840
them from two thousand and seven until this year right

1715
01:20:04.000 --> 01:20:06.520
to get the price back, but they sold the first

1716
01:20:06.520 --> 01:20:08.880
twenty percent profit. But you know, I've took some time.

1717
01:20:09.199 --> 01:20:11.640
In the meantime, they were able to live there and

1718
01:20:11.720 --> 01:20:14.279
enjoy it. Right happens right.

1719
01:20:14.319 --> 01:20:14.479
You know.

1720
01:20:14.560 --> 01:20:17.079
Another part of that space is it b it's a

1721
01:20:17.079 --> 01:20:21.399
home construction ETF and that's gotten absolutely hammered quite a bit.

1722
01:20:21.560 --> 01:20:25.000
But I think it might be an interesting place to

1723
01:20:25.039 --> 01:20:28.039
start to take a stab at it's come down from

1724
01:20:28.079 --> 01:20:30.880
its highs of around one thirty. It's around ninety three now.

1725
01:20:31.479 --> 01:20:34.239
Probably a more diversified way, a less risky way than

1726
01:20:34.319 --> 01:20:38.119
just going into a single home builder or home ETF.

1727
01:20:38.960 --> 01:20:40.840
You know, who knows if home depot's going to be

1728
01:20:40.840 --> 01:20:42.760
the better place to be or a home builder. But

1729
01:20:43.239 --> 01:20:45.680
that's why that home construction ETF can be a better

1730
01:20:45.720 --> 01:20:47.640
way to just play the whole space if you think

1731
01:20:47.680 --> 01:20:50.119
it will come back over the next couple of years.

1732
01:20:50.359 --> 01:20:52.479
One of those things I've watched with curiosity over the

1733
01:20:52.600 --> 01:20:56.479
years is Krispy Kreme. Krispy came public back in two

1734
01:20:56.560 --> 01:21:00.359
thousand and Man, it was all the rage, but five

1735
01:21:00.439 --> 01:21:03.760
years later they filed for bankruptcy. Interesting story about that.

1736
01:21:04.039 --> 01:21:07.199
Krispy Kreme stock was nearest high and I walked into

1737
01:21:07.279 --> 01:21:09.840
Walgreens one day to get something and here was the

1738
01:21:09.960 --> 01:21:13.840
display of Krispy Kreme donuts. Well there goes the scarcity, right,

1739
01:21:14.319 --> 01:21:16.399
because that was one of the things that made them special.

1740
01:21:16.800 --> 01:21:19.039
I went back to the office the next morning and said,

1741
01:21:19.079 --> 01:21:21.840
sell all to Christy Creme, and thankfully we did. Five

1742
01:21:21.920 --> 01:21:25.319
years later, when bankrupt they struggled along for eleven years

1743
01:21:25.359 --> 01:21:29.359
trying to reorganize the company operating in bankruptcy, which you

1744
01:21:29.479 --> 01:21:32.359
can do if you are doing in a restructuring and

1745
01:21:32.640 --> 01:21:36.319
in twenty sixteen it was purchased by private equity. Private

1746
01:21:36.319 --> 01:21:38.119
equity cleaned it up as best they could, and in

1747
01:21:38.119 --> 01:21:40.319
twenty twenty one it came public for a second time.

1748
01:21:41.119 --> 01:21:44.159
Here we are four years later with news the company's

1749
01:21:44.199 --> 01:21:47.640
no longer going to sell their donuts at McDonald's, and

1750
01:21:47.720 --> 01:21:50.640
Krispy Kremes did a new all time low. No talk

1751
01:21:50.680 --> 01:21:54.039
about christpy Kreme having declared bankruptcy back in two thousand

1752
01:21:54.039 --> 01:21:57.960
and five. In twenty sixteen, taking public, and then it's

1753
01:21:58.000 --> 01:22:01.159
going to be taking private. I bought by equity out

1754
01:22:01.159 --> 01:22:04.520
of bankruptcy. Twenty twenty one, they come public again. Now

1755
01:22:04.520 --> 01:22:08.279
they're down to two bucks. Threat need to go bankrupt again. No,

1756
01:22:09.039 --> 01:22:11.359
they make They make a great don't it. I'll give

1757
01:22:11.399 --> 01:22:11.640
them that.

1758
01:22:11.680 --> 01:22:15.680
Too many people on Olympic Now I'm pressing that appetite.

1759
01:22:15.840 --> 01:22:20.199
There you go. I guess, although I don't know. I've

1760
01:22:20.199 --> 01:22:22.079
got mixed feelings about that. I would say, well, people

1761
01:22:22.079 --> 01:22:24.399
aren't I don't know Ozmpic are going to eat healthy?

1762
01:22:24.399 --> 01:22:26.760
And I'm thinking no, they're not, because they're they're gonna

1763
01:22:26.760 --> 01:22:28.600
eat healthy. They wouldn't need Olympic.

1764
01:22:28.199 --> 01:22:30.039
Right, but they're gonna eat less because of the appetite

1765
01:22:30.039 --> 01:22:31.800
supressing associated with well, you would.

1766
01:22:32.000 --> 01:22:33.720
I don't know how A company I think is just

1767
01:22:34.520 --> 01:22:37.560
widely too cheap probably is Target right now, the Target

1768
01:22:37.560 --> 01:22:41.960
Corporate Corporation trading at like a trailing pe of ten

1769
01:22:42.000 --> 01:22:45.199
point six. Yeah, I mean yeah, we talked about it

1770
01:22:45.199 --> 01:22:47.000
this week. How a company with no growth you can

1771
01:22:47.039 --> 01:22:48.479
put them at an eight pe eight.

1772
01:22:48.600 --> 01:22:51.279
Yeah, that's kind of the that's kind of the accepted

1773
01:22:51.319 --> 01:22:54.840
price earning poor company with no ten eight times journeys.

1774
01:22:55.000 --> 01:22:57.960
So Targets used to trade at around two hundred and

1775
01:22:57.960 --> 01:22:59.960
sixty dollars, a shared all time high in twenty two

1776
01:23:00.039 --> 01:23:04.199
only one, it's not ninety nine dollars. There's obviously a

1777
01:23:04.199 --> 01:23:06.880
lot that's happened through those years. They had the pushback

1778
01:23:06.920 --> 01:23:11.000
against their liberal merchandise that they had for a while

1779
01:23:11.039 --> 01:23:13.720
and all that. But I don't think Target's going out

1780
01:23:13.760 --> 01:23:14.239
of business.

1781
01:23:14.279 --> 01:23:15.840
I don't think they're going out of business.

1782
01:23:15.920 --> 01:23:18.760
So this is an interesting stock that I've been watching

1783
01:23:18.760 --> 01:23:20.920
for a while. It seems like over the last couple

1784
01:23:20.920 --> 01:23:23.560
of weeks it's found somewhat of a level I don't

1785
01:23:23.600 --> 01:23:25.560
know if it's a bottom, but they definitely found the

1786
01:23:25.680 --> 01:23:27.840
level here at around the ninety nine dollars level.

1787
01:23:28.000 --> 01:23:29.680
Or you know what comes after the fourth of July

1788
01:23:30.520 --> 01:23:33.479
the Amazon Prime yep, you know. It used to be

1789
01:23:33.520 --> 01:23:37.039
Amazon Prime Day too, and then it became two days,

1790
01:23:37.199 --> 01:23:40.279
it's a week. Now it's four days day. Do you guys,

1791
01:23:40.319 --> 01:23:45.600
you guys watch the Amazon Prime sales? Do you do

1792
01:23:45.640 --> 01:23:46.680
you pay any attention to it?

1793
01:23:46.760 --> 01:23:47.520
I'll browse it.

1794
01:23:47.720 --> 01:23:49.720
I mean, do you actually look at the prices and

1795
01:23:49.880 --> 01:23:51.920
wonder if there's something I like at the right price?

1796
01:23:52.079 --> 01:23:53.199
So you actually do use it?

1797
01:23:53.239 --> 01:23:55.800
I try. I try not to because unless I actually

1798
01:23:55.800 --> 01:23:57.520
needed something, you know what I mean, I'm not just

1799
01:23:57.520 --> 01:23:58.800
gonna buy something because it's cheaper.

1800
01:23:59.319 --> 01:24:01.479
How about your time? Yeah, you pay attention to it

1801
01:24:01.479 --> 01:24:01.760
at all?

1802
01:24:02.560 --> 01:24:05.960
No, I mean, I'm I'm I I might. I would

1803
01:24:06.000 --> 01:24:07.800
have to be pretty bored during those couple of days.

1804
01:24:08.000 --> 01:24:09.960
Yeah, I honestly never even look at it, and I

1805
01:24:10.399 --> 01:24:12.920
probably should. I'm not a really great shopper, have never

1806
01:24:13.000 --> 01:24:15.119
been a really great shopper. Don't clip coupons, don't know

1807
01:24:15.159 --> 01:24:16.520
when to stop? You know, feel like you have to

1808
01:24:16.560 --> 01:24:18.600
be that type of person. Right, We'll be back right

1809
01:24:18.640 --> 01:24:19.520
after this break.

1810
01:24:20.239 --> 01:24:22.199
Welcome back to the Money Matter Show. My name is

1811
01:24:22.199 --> 01:24:25.159
tog Lick. I'm here with Sebastian Borsini and Dave Surewood.

1812
01:24:25.680 --> 01:24:29.239
This week, the market has gotten back into positive territory

1813
01:24:29.479 --> 01:24:31.159
for the year, and it's quite a bit. It's five

1814
01:24:31.159 --> 01:24:33.880
percent higher for the year and hit a new all

1815
01:24:33.920 --> 01:24:35.800
time high on the S and P and the Nasdaq,

1816
01:24:36.159 --> 01:24:37.920
new all time high on the S and P. So

1817
01:24:37.960 --> 01:24:40.640
the question is is it I mean, it just hits

1818
01:24:40.680 --> 01:24:42.560
new all time high as always, right, Dave.

1819
01:24:42.560 --> 01:24:45.680
It always, there's always. What we always say is is

1820
01:24:46.039 --> 01:24:49.680
the one consistency with the market is that every single

1821
01:24:49.800 --> 01:24:53.079
decline in market history has been followed by a new

1822
01:24:53.119 --> 01:24:56.159
all time high one hundred percent. And we had a

1823
01:24:56.159 --> 01:24:59.239
big decline in April. What was it followed by, Sebastian,

1824
01:24:59.479 --> 01:25:02.000
all time I knew, all time high every time one

1825
01:25:02.039 --> 01:25:04.560
hundred percent. So when in the market drops, why are

1826
01:25:04.600 --> 01:25:06.479
you freaking out? Why are you getting scared? Why are

1827
01:25:06.640 --> 01:25:07.159
selling stuff?

1828
01:25:07.159 --> 01:25:10.159
It's on sale? Come on, let's go, let's go use

1829
01:25:10.199 --> 01:25:10.960
those fingers by.

1830
01:25:11.560 --> 01:25:14.399
We had a fun stat we saw this week that

1831
01:25:14.479 --> 01:25:18.319
the Lakers were sold the Los Angeles Lakers for evaluation

1832
01:25:18.840 --> 01:25:22.199
of ten billion dollars for the Bee, all right, and

1833
01:25:22.239 --> 01:25:24.039
it's his daughter that s sold. Jerry Buss was the

1834
01:25:24.079 --> 01:25:26.479
original owner of the Lakers, brought it back at nineteen

1835
01:25:26.560 --> 01:25:30.359
seventy three, I believe, for around sixty seven million dollars

1836
01:25:30.840 --> 01:25:35.039
and exited with a ten billion dollar valuation. Pretty good investment.

1837
01:25:35.039 --> 01:25:37.239
That's one hundred and forty nine times return.

1838
01:25:37.359 --> 01:25:39.479
Yeah, I mean, you say, boy, I'd love to buy

1839
01:25:39.520 --> 01:25:41.920
something for that price itself. I'd love to have that

1840
01:25:42.000 --> 01:25:44.399
kind of return, So no way I can ever get

1841
01:25:44.399 --> 01:25:44.800
that right now.

1842
01:25:44.960 --> 01:25:47.359
Great, So the S and P five hundred. If he

1843
01:25:47.399 --> 01:25:48.880
would have said, you know, I don't want the Lakers,

1844
01:25:48.880 --> 01:25:49.880
I'm just going to put in the S and P

1845
01:25:49.960 --> 01:25:52.600
five hundred instead, that sixty seven million would have turned

1846
01:25:52.600 --> 01:25:58.479
into thirteen billion dollars. Probably had a little more fun

1847
01:25:59.039 --> 01:26:02.920
Lakers probably did. Yeah, But yes, the S and P

1848
01:26:03.680 --> 01:26:06.239
beat the return of owning one of the greatest sports

1849
01:26:06.279 --> 01:26:09.960
franchises and the growth of the sports franchise really over

1850
01:26:09.960 --> 01:26:10.399
the last.

1851
01:26:10.279 --> 01:26:12.560
Time about as good as you could get with a

1852
01:26:12.640 --> 01:26:16.000
sports franchise, about as about as well as you could.

1853
01:26:15.840 --> 01:26:20.920
Do, from almost really in irrelevancy to one of the

1854
01:26:20.960 --> 01:26:24.920
most valuable teams in the world. That's that's just you

1855
01:26:24.960 --> 01:26:26.319
can do the same thing with the s and b

1856
01:26:26.359 --> 01:26:26.840
BI hunters.

1857
01:26:27.000 --> 01:26:28.960
I love that statistic. You know. One of the things

1858
01:26:28.960 --> 01:26:32.319
that surprises me when you when you see a new technology,

1859
01:26:32.319 --> 01:26:34.319
you think, who's that gonna help? Who's that gonna hurt?

1860
01:26:34.520 --> 01:26:37.119
And with the Weimo and the Robotax, you know, I thought,

1861
01:26:37.359 --> 01:26:39.439
oh boy, here Uber not this is not going to

1862
01:26:39.479 --> 01:26:41.439
be good for Uber. Uber is close to an all

1863
01:26:41.479 --> 01:26:44.880
time high. They're partnering with all these people, and what's

1864
01:26:44.920 --> 01:26:47.319
going to happen is Uber is going to be using

1865
01:26:48.000 --> 01:26:52.399
Weimo vehicles to shuttle their people around. And guess what,

1866
01:26:52.840 --> 01:26:57.319
they just eliminated the most costly part of their business,

1867
01:26:57.359 --> 01:27:00.359
the driver. Yeah, it's like a.

1868
01:27:00.239 --> 01:27:03.560
It's just more infrastructure they had for a while.

1869
01:27:03.600 --> 01:27:06.920
They if you watch the original Uber series that they

1870
01:27:06.920 --> 01:27:09.760
have on Netflix about the creation of Uber, they actually

1871
01:27:09.760 --> 01:27:11.359
talk about this how they wanted to do the self

1872
01:27:11.439 --> 01:27:15.079
driving vehicles, and I believe they stole someone from Google

1873
01:27:15.199 --> 01:27:18.600
to help create it and end up not working because

1874
01:27:18.640 --> 01:27:20.840
of exactly your point. The CEO at that time knew

1875
01:27:20.880 --> 01:27:23.079
he needed to cut out the driver. That was the

1876
01:27:23.119 --> 01:27:26.840
most expensive part of that thing. And it's just really

1877
01:27:26.880 --> 01:27:29.520
smart on Uber's part because of their network effect of

1878
01:27:29.560 --> 01:27:32.399
the app. Right, everyone knows I'm gonna call an uber,

1879
01:27:32.439 --> 01:27:34.680
I'm gonna call a lyft and they have that Kleenex

1880
01:27:34.680 --> 01:27:37.479
effect our language. Right, No one's gonna download a Waymo

1881
01:27:37.560 --> 01:27:41.239
app to order a weay moo because you know it's

1882
01:27:41.319 --> 01:27:44.239
it's an extra step. So if they can get it on,

1883
01:27:44.680 --> 01:27:46.880
it's a perfect synergy.

1884
01:27:46.880 --> 01:27:49.880
There. Not living in Phoenix, I've never is there a

1885
01:27:50.119 --> 01:27:53.399
mo app? I guess there is? Right, Yeah, I mean I.

1886
01:27:54.880 --> 01:27:55.960
But definitely there is.

1887
01:27:56.039 --> 01:28:00.119
Yeah, that's because that's how you get them, right. But

1888
01:28:00.239 --> 01:28:02.399
I think one of the more interesting things about Waymo

1889
01:28:02.560 --> 01:28:04.479
that I found out. I mentioned it last week on

1890
01:28:04.520 --> 01:28:08.960
the show. Those are all Jaguar vehicles SUVs.

1891
01:28:09.159 --> 01:28:10.840
Seems like a pretty expensive class.

1892
01:28:10.920 --> 01:28:14.800
Yeah, every weymo is a Jaguar Suv. It's not a

1893
01:28:14.880 --> 01:28:18.119
hugely expensive car. My wife drives one, and the like,

1894
01:28:18.119 --> 01:28:21.680
oh it's one hundred dollar car. It's not you know,

1895
01:28:21.840 --> 01:28:26.159
she wouldn't be driving. They're not. They're not that much

1896
01:28:26.159 --> 01:28:28.119
more expensive than any other vehicle. In fact, they're a

1897
01:28:28.159 --> 01:28:31.039
lot less expensive than a lot of these fancy like

1898
01:28:31.079 --> 01:28:35.199
Porsches and things, a lot less expensive. But it is

1899
01:28:35.199 --> 01:28:37.920
interesting that that they're all Jaguars and are They are

1900
01:28:37.960 --> 01:28:40.960
going to be manufactured on a plant outside of Mesa,

1901
01:28:42.079 --> 01:28:45.239
So that's that's good for AIR. I just cannot get

1902
01:28:45.279 --> 01:28:52.279
over the number of corporate headquarters, corporate uh footprints that

1903
01:28:52.439 --> 01:28:55.600
are happening in Phoeni, Phoenix. It's just mind boggling.

1904
01:28:55.640 --> 01:28:56.199
It's awesome.

1905
01:28:56.359 --> 01:28:58.760
I mean, it's it's just it's just amazing. I mean,

1906
01:28:58.800 --> 01:29:01.159
the city is already the fourth largest in the country.

1907
01:29:01.359 --> 01:29:03.960
I don't think there's probably any chance of the mcclipsey

1908
01:29:04.000 --> 01:29:07.079
New York ally in Chicago, but there's nobody, nobody else

1909
01:29:07.159 --> 01:29:09.119
is gonna be close to them.

1910
01:29:09.239 --> 01:29:11.920
Yeah, and it's it's really going to be the next

1911
01:29:11.920 --> 01:29:14.119
Silicon Valley. It's looking like it seems like it. I

1912
01:29:14.159 --> 01:29:17.119
mean that's where it's all going to be. Yeah, it's

1913
01:29:17.800 --> 01:29:21.039
and uh, you know, a s U School of Innovation

1914
01:29:21.119 --> 01:29:22.560
bringing the innovation to the valley.

1915
01:29:23.479 --> 01:29:26.199
Oh my god, you guys, are we do we have

1916
01:29:26.279 --> 01:29:28.840
to go there? Do we have to do it? You know,

1917
01:29:28.880 --> 01:29:31.239
we're saying we're sending a little love to the Phoenix

1918
01:29:31.279 --> 01:29:33.119
and they they got to get put up with the food.

1919
01:29:33.159 --> 01:29:34.560
Do you think brought the businesses back?

1920
01:29:34.800 --> 01:29:38.399
Yeah? Wow alumni, Yeah, I think I think they should

1921
01:29:38.439 --> 01:29:42.680
be forked right, whatever, whatever.

1922
01:29:42.319 --> 01:29:44.319
We're talking about stable coins. You know, when I went

1923
01:29:44.399 --> 01:29:49.000
up this week Visa and stable coins, Visa and masters,

1924
01:29:49.039 --> 01:29:50.880
I saw that. How did they go up this week?

1925
01:29:51.479 --> 01:29:52.920
Because it isn't that big of a threat.

1926
01:29:53.239 --> 01:29:55.920
No, because they they're going to release their own stable.

1927
01:29:55.600 --> 01:29:58.479
Courts, they have their own table car.

1928
01:29:58.560 --> 01:30:00.560
They're trying, they're working on the technolog you for it.

1929
01:30:00.640 --> 01:30:02.479
I just can't actually know they've been working on this.

1930
01:30:02.600 --> 01:30:04.680
I'm just the bit to run into this for the

1931
01:30:04.720 --> 01:30:07.359
first time to get a real life feel for what

1932
01:30:07.640 --> 01:30:08.039
this is all.

1933
01:30:08.399 --> 01:30:10.960
Again, why would you an American would never use a

1934
01:30:10.960 --> 01:30:11.520
stable coin?

1935
01:30:11.920 --> 01:30:15.000
Why? Like so, why would Visa MasterCards need them?

1936
01:30:15.079 --> 01:30:18.439
Because you are still using dollars. So when you send

1937
01:30:18.439 --> 01:30:22.000
a zel, is that not a digital dollar? When you

1938
01:30:22.039 --> 01:30:25.159
send money through Zel, yes, digital dollars, that is essentially

1939
01:30:25.199 --> 01:30:27.399
a stable coin. You will never know you're using a

1940
01:30:27.399 --> 01:30:29.680
stable coin. It'll still just say dollars.

1941
01:30:29.960 --> 01:30:32.279
And we need it because there are parts of the

1942
01:30:32.279 --> 01:30:34.760
world that do not have access to the dollar.

1943
01:30:34.880 --> 01:30:38.840
No transaction transaction COSG transaction costs for the company so

1944
01:30:38.880 --> 01:30:41.399
efficient on Amazon, I will be able to go buy

1945
01:30:41.439 --> 01:30:44.800
two hundred dollars worth of stable coin of Amazon stable coin,

1946
01:30:45.039 --> 01:30:47.000
right and if I use that two hundred dollars worth

1947
01:30:47.039 --> 01:30:49.359
of stable coin, they'll give me a let's call it,

1948
01:30:49.399 --> 01:30:52.199
a three percent discount on whatever it is that I'm buying.

1949
01:30:52.319 --> 01:30:53.960
Why is that? Why are they going to give me

1950
01:30:54.000 --> 01:30:56.079
a discount on that? Because they're not paying that transaction

1951
01:30:56.159 --> 01:30:59.560
cost to visa two MasterCard, to whatever that credit card

1952
01:30:59.560 --> 01:30:59.960
provider is.

1953
01:31:00.800 --> 01:31:03.439
And it's bigger than it's just that it's based on settlement.

1954
01:31:03.880 --> 01:31:06.960
So the way we settle things now through bank deposits

1955
01:31:07.039 --> 01:31:09.359
or credits and trans that can be done through stable

1956
01:31:09.399 --> 01:31:12.039
coins and done a lot more efficiently than the old

1957
01:31:12.039 --> 01:31:14.079
school way of delivering actual money.

1958
01:31:14.199 --> 01:31:16.079
We were talking about it earlier today, Dave, Why do

1959
01:31:16.479 --> 01:31:19.439
you know small business owners like card washed guy? He

1960
01:31:19.479 --> 01:31:22.640
comes in? Why does he like cash right? No transaction cost?

1961
01:31:22.680 --> 01:31:25.079
Why does he like no transaction costs? He gets money

1962
01:31:25.159 --> 01:31:27.199
fully in. He gets annoyed if I pay with a

1963
01:31:27.239 --> 01:31:29.119
credit card. Why because he has to pay that fee,

1964
01:31:29.359 --> 01:31:32.840
which inevitably actually I pay for Because the consumer always

1965
01:31:32.840 --> 01:31:33.520
bears a burden.

1966
01:31:33.600 --> 01:31:36.279
That's not true. Why we saw that the consumer didn't

1967
01:31:36.279 --> 01:31:40.279
bear the burden with Toyota, with foreign cars, because actually

1968
01:31:40.319 --> 01:31:43.359
we are getting foreign cars cheaper now because of the tariffs.

1969
01:31:42.960 --> 01:31:48.000
Theres Why is that they decided Asia or Japan? Yeah, Asia,

1970
01:31:48.039 --> 01:31:51.439
they decided to incur the costs themselves. They didn't inflate

1971
01:31:51.439 --> 01:31:53.199
it on the back end. They said screw it. Why

1972
01:31:53.239 --> 01:31:57.279
because they want the brand loyalty Toyota in particular, or

1973
01:31:57.319 --> 01:32:00.920
Toyota Toyota and did look like Asian exports.

1974
01:32:00.960 --> 01:32:03.880
So whoever, you know, whichever companies come out of age.

1975
01:32:03.720 --> 01:32:05.840
If there's ten percent here, if they just eat that.

1976
01:32:06.119 --> 01:32:08.600
Yeah, and so it was a really interesting chart, and

1977
01:32:08.640 --> 01:32:09.880
I'll have to pull it up and show you show

1978
01:32:10.079 --> 01:32:13.119
the consumer didn't bear the burden. It's it's what it's

1979
01:32:13.159 --> 01:32:16.079
the exact opposite of what you would typically think.

1980
01:32:16.159 --> 01:32:19.640
If that's true, I would expect Toyota stock to be declining,

1981
01:32:20.079 --> 01:32:22.199
and it has. If it's down ten percent.

1982
01:32:22.880 --> 01:32:24.840
It's actually declined quite a bit.

1983
01:32:25.079 --> 01:32:28.119
Okay, well that would make sense. That would that would absolutely.

1984
01:32:28.479 --> 01:32:31.399
On Friday, what's their year to date and say check it.

1985
01:32:32.560 --> 01:32:36.760
I noticed that on it. I think Thursday. Robert F

1986
01:32:36.800 --> 01:32:41.279
can't remember. He fired all the vaccine panelists and hired

1987
01:32:41.319 --> 01:32:45.920
all new. His revamped government panel of outside vaccine advisors

1988
01:32:46.319 --> 01:32:50.680
recommended the use of shot to protect infants from RSV.

1989
01:32:51.640 --> 01:32:55.279
Remember he was highly touted as an anti vaxed guy,

1990
01:32:55.640 --> 01:32:58.560
and here's this group of people that he brought together

1991
01:32:59.119 --> 01:33:01.119
who say, yeah, this this vaccine makes sense.

1992
01:33:01.159 --> 01:33:04.680
They're down ten percent year to date, that the Toyota Okay,

1993
01:33:04.760 --> 01:33:06.520
well there you go. There's but they're at one point

1994
01:33:06.600 --> 01:33:07.239
four on the week.

1995
01:33:08.319 --> 01:33:11.960
Anyway, that that vaccine Committee approving there, I speak is

1996
01:33:12.000 --> 01:33:13.680
a little bit of a sigh relief to some of

1997
01:33:13.720 --> 01:33:16.920
the health officials that we're all concerned about about him

1998
01:33:16.960 --> 01:33:18.079
being anti vax and.

1999
01:33:18.760 --> 01:33:21.760
Yeah, he's only anti bad vaxes. So yeah, it's a

2000
01:33:21.760 --> 01:33:22.119
good thing.

2001
01:33:22.439 --> 01:33:25.680
And in his opinion, ours is for elderly.

2002
01:33:26.680 --> 01:33:30.079
Our speaker is for infants and elderly. Yeah, it's a

2003
01:33:30.199 --> 01:33:33.520
it's a long disorder. It's the number one reason that

2004
01:33:33.800 --> 01:33:37.279
children are hospitalized, number one reason, and it's one of

2005
01:33:37.319 --> 01:33:39.279
the leading causes of death amongst elderly.

2006
01:33:39.399 --> 01:33:40.960
I have a question for you, David. If you had

2007
01:33:40.960 --> 01:33:43.640
a device, a wearable device that could tell you exactly

2008
01:33:43.720 --> 01:33:46.439
like when you might have a heart attack or like

2009
01:33:46.600 --> 01:33:49.119
something's happening it's such like a doctor that's on you,

2010
01:33:49.119 --> 01:33:52.840
would you wear sure? Now, would any part of you

2011
01:33:52.920 --> 01:33:53.880
care about privacy?

2012
01:33:54.439 --> 01:33:54.600
No?

2013
01:33:55.960 --> 01:33:58.359
I feel like that's majority of Americans. As much as

2014
01:33:58.439 --> 01:34:01.439
much as people think they care about privacy, if it's

2015
01:34:01.439 --> 01:34:05.439
convenient enough and it's cool enough, like even your phone. Right,

2016
01:34:05.479 --> 01:34:08.560
It's like, as much as we're like we care about privacy,

2017
01:34:08.640 --> 01:34:09.600
we do a lot on our phone.

2018
01:34:09.640 --> 01:34:11.560
If you're carrying a cell phone around you, you don't

2019
01:34:11.560 --> 01:34:14.439
really care about privacy, right, right. I mean you might

2020
01:34:14.479 --> 01:34:21.520
say you do, right, but you don't. I mean, that's it.

2021
01:34:21.760 --> 01:34:23.000
I think it's an interesting idea.

2022
01:34:23.119 --> 01:34:25.319
I think when you when you talk about something that

2023
01:34:25.359 --> 01:34:28.520
could save your life, I'll give up some privacy for

2024
01:34:28.600 --> 01:34:31.640
that's what privacy am I giving up where I am?

2025
01:34:31.960 --> 01:34:34.199
Oh that's exciting. You'll follow that for about two days?

2026
01:34:34.199 --> 01:34:36.600
Ely so bored you you want to shoot yourself.

2027
01:34:37.760 --> 01:34:40.239
I guess the fear is they'll know exactly your cholesterol,

2028
01:34:40.279 --> 01:34:41.600
they'll know your diet.

2029
01:34:42.279 --> 01:34:43.840
Yeah, I don't know what they're doing that.

2030
01:34:44.079 --> 01:34:46.760
I think that we saw that. You know that back

2031
01:34:46.840 --> 01:34:49.279
up your points with Snowden back in twenty thirteen or whatever.

2032
01:34:49.279 --> 01:34:50.399
Who cares about that anymore?

2033
01:34:50.720 --> 01:34:53.439
No, I just don't. I don't have any problem with

2034
01:34:53.560 --> 01:34:57.439
everybody in the entire world knowing everything about my physical condition.

2035
01:34:57.520 --> 01:35:00.199
I don't care. Why would I care, Yeah, I mean,

2036
01:35:00.399 --> 01:35:02.279
what are you gonna do with it? Yeah?

2037
01:35:02.319 --> 01:35:03.960
And I think it was just one of the interesting

2038
01:35:03.960 --> 01:35:07.479
points that saw RFK talk about healthcare wearables and how

2039
01:35:07.479 --> 01:35:11.000
he wants to prevent, you know, bring that about. And

2040
01:35:11.359 --> 01:35:13.520
I think there's going to be a pushback and some

2041
01:35:13.680 --> 01:35:16.760
acceptance to that, because, yeah, technology makes it easier for

2042
01:35:16.840 --> 01:35:19.119
us to know where we are and our health status, right,

2043
01:35:19.159 --> 01:35:21.680
and helps the doctors be better too. But there's also

2044
01:35:21.720 --> 01:35:23.920
that like push and pull of I don't want to

2045
01:35:23.920 --> 01:35:25.560
give you everything type of thing.

2046
01:35:25.680 --> 01:35:28.159
So, yeah, I feel like I'm in good health. I

2047
01:35:28.159 --> 01:35:31.119
feel like I'm in pretty good shape for someone my age.

2048
01:35:31.159 --> 01:35:34.199
I've just recently had a physical all passed with flying colors.

2049
01:35:34.520 --> 01:35:36.159
You want to put that on the internet, go ahead,

2050
01:35:36.239 --> 01:35:39.520
I like everybody know, right. I mean, so, I'm not

2051
01:35:39.560 --> 01:35:42.920
sure what the privacy concerns would be. I don't have them.

2052
01:35:43.840 --> 01:35:45.680
So I guess if you had some kind of a

2053
01:35:45.760 --> 01:35:49.079
dreaded disease that people were afraid of, I could see

2054
01:35:49.079 --> 01:35:53.560
that you didn't want to contaminate other people back when

2055
01:35:53.560 --> 01:35:56.399
he had COVID, you know that when that was going around. Anyway,

2056
01:35:56.600 --> 01:35:58.760
we all want to be happy, and we all want

2057
01:35:58.760 --> 01:36:01.039
to be healthy, and at the end of the day,

2058
01:36:01.079 --> 01:36:03.279
what we're really trying to be here at Greenberg Financial

2059
01:36:03.439 --> 01:36:05.920
is profitable. See you next week.