Feb. 7, 2025

Market Mayhem, Nvidia’s Historic Loss & AI’s Disruption

Market Mayhem, Nvidia’s Historic Loss & AI’s Disruption
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Market Mayhem, Nvidia’s Historic Loss & AI’s Disruption
Market Mayhem, Nvidia’s Historic Loss & AI’s Disruption

Welcome to The Money Matters Show, brought to you by Greenberg Financial Group. This week, we break down the latest market turbulence, as the Dow finished higher while the Nasdaq and S&P 500 ended lower after a rollercoaster week.
The biggest...

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Welcome to The Money Matters Show, brought to you by Greenberg Financial Group. This week, we break down the latest market turbulence, as the Dow finished higher while the Nasdaq and S&P 500 ended lower after a rollercoaster week.
The biggest headline was Nvidia’s unprecedented $600 billion market cap loss in a single day, sending shockwaves through the tech sector. This selloff was triggered by a report from Chinese AI firm DeepSeek, which challenged the prevailing narrative that Nvidia’s AI chips are the best or only option for model development. As a result, investors pivoted toward safe-haven assets, which helped the Dow rise while tech stocks tumbled.
We also cover the Federal Reserve’s latest decision to hold interest rates steady and what it means for the markets. Additionally, we dive into major Q4 earnings reports from Apple, Meta, and other key players that helped markets stabilize after Monday’s sharp decline.
Looking ahead, we analyze the three biggest factors influencing markets next week: earnings reports that reveal how companies are holding up in today’s uncertain economy, key economic data that could shape the Federal Reserve’s next moves, and the latest political and AI developments, including Trump’s presidential decisions and the rapid evolution of AI technology.
Finally, we discuss our financial planning process and how we leverage state-of-the-art technology to help our clients secure their financial future. Tune in for expert insights and actionable advice—because when it comes to your money, knowledge is power.
If you would like to contact us to learn more about our firm and our process call us at 520.544.4909 or go to our website at www.Greenbergfinancial.com or email us at Contact@Greenbergfinancial.com

WEBVTT

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Good morning. It's that time again. This is not Dean Greenberg.

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Dean Greenberg's missing. I've got Sebastian, I've got Todd, I

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got Dylan. I'm Dave, and we're here to bring you

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the money matter showing. It's February, and more importantly for me,

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it's warming up out there. I'm actually being able to

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go outside again and spend a lot of time in

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the gym. And you know what that means watching CNN not.

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Good speak was ridiculously cold.

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Good It's been ridiculously cold for a couple of weeks now.

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So nice to see the calendar flip to February. Nice

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to see some eighty degree tempts coming up this next week.

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I'm really looking forward to that. Dean is uh is out.

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He had a little sin of surgery early in the week,

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and for medical reasons, yeah, exactly said it's it's been

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struggling a little bit for Dean not to be in

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the office. That's a that's a major deal. He's he's

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in the office almost come, no matter what what's going on,

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and Uh to see him not in the office, he's

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hurting out there. So I think he went to the

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doctor on Friday, and things are improving and hopefully he'll

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be back next week. And we all miss him, and

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we certainly missed his voice on the radio, and we

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miss getting to mess around for twenty four minutes while

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he does his monologue. We have to actually work for

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his twenty four minutes, right, you know? Every week I

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kind of look and say, what's the big headline of

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the week, And sadly, this week, I think it was

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the American Airlines tragedy in Washington, and it really hit

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close to home. I think we've all been on those

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Regional American Airlines flights, whether I go to Milwaukee, I

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go to Milwaukee to visit family in Dallas to Milwaukee,

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Dallas to Minneapolis, regional American airlines, So I think we've

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all been on those and it was a real tragedy

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and what the worst airplane accident in the United States

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in twenty three years. I think it's a sixty seven

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people perished and really really sad, sad day that happens,

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and I guess say it felt close to home town.

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I think the big news for the market this week

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was deep Seek.

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Yes, Chinese start Deep.

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Seek, Chinese startup company called deep Seek that's d E

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E P S e e K. They were. They were

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formed about eighteen months ago, two years ago to uh,

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it was relatively recently twenty three, twenty four to to

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try to explore how they could get this high end

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technology without the chips that that we control and that

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Biden Intelligence smartly wouldn't send them. And uh, they're trying

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to find a work around, if you will. And Deep

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Seek came out on Monday right at the open and

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said that they'd figured out a way to do AI

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without the Nvidio chips, without any of the high end ships.

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He used an old, cheap run of the mill chips, right.

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It wasn't the complete old school though. They just used them,

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used more of the power. They used about ninety percent

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utilization of the chips. And that's the biggest thing.

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And what percentage of the cost?

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Six million dollars they said charge, which is a fraction

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of what AI does.

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And of course the whole thing regarding AI has been

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the in video ship. You have to have the in

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video ship, what forty thousand bucks a piece at least,

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and you've got to have those and people have just

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been hoarding them and piling them up and now all

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of a sudden, well, wait a second, maybe we don't

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need those chips.

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Well, I was kind of surprised about the initial like

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how dramatic the reaction was, just because we typically look

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at Chinese data and take it with a grain of salt,

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and I mean, this is Chinese company. How much can

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we really trust them?

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And you have to and then we're doubters that that

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particular data. Monday and Video lost seventeen percent. Todd, you

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mentioned earlier, not on this broadcast, but on another broadcast,

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is the biggest one day market cap loss for any

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US company in history?

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Yes, in history? Yeah, you know, in the nominal terms,

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that's it's how it's gonna be. You know, going forward,

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companies get bigger and bigger. One seventeen percent drop, Yeah,

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it's a big drop. But when you have that seventeen

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percent drop happened in the world's largest company in the

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world in terms of market cap, that's how you get

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a six hundred billion dollar loss. So in nominal terms,

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it's the biggest dollar value loss, not percentage wise.

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Yeah, last year Nvidia had three of the top ten,

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well including this one. In the last twelve months, they

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had three of the top ten largest drops in a

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single day and really one up one hundred and seventy percent.

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Last very volatile stock, as you said many times the show, Dave.

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I mean, if you look at the beta, it's I think,

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which is the reflection of how much it moves to

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the stock market. It's around two, so it's at least

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moving double whatever the market's doing. It's a very volatile stock.

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It's run up so much so it pulling back seventeen percent,

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it's still up over ten x.

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It was so much collateral damage. I was blown away

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by the collateral damage. One of those stocks we really

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like very if they make the cooling systems that help

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these red hot and video chips run, because you run

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red hot and it allows them to run without melting down.

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It lost thirty percent.

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If people really want an in depth knowledge of what's

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going on with this deep sea company, I'd employ you

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to go to the CNBC's YouTube page. They they released

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a video about this on Friday of last week, and

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I watched it Friday afternoon after the market closed, and

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I thought I found it very interesting because they said

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exactly what the market woke up to on Monday. On Friday.

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Avenews CNBC had a video article talking about the fact

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that AI in China has caught up to the American

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companies potentially, and that they're all the CEOs. When they

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were at Davos a couple of weeks ago, when all

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the CEOs came together and all the AI revolutionaires were

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talking about what's to come, they all were very impressed

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by deep Seek's ability to perform just as well as

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the other Western AI models, but on a fraction of

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the computing power. And they were doing this because they

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were on a open source platform, and this open source

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platform increased efficiencies.

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Explain that a little bit. You explained it to me,

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so explain it to the listener.

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Yeah. So an open source platform is something that doesn't

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use just internal talents, so anyone can build on top

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of the platform. And another idea of what open sources

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is Bitcoin. Bitcoin's and open source technology because developers of

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anyone can produce a the idea to the Bitcoin network

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saying hey, I want to make an upgrade to the

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Bitcoin network, and if everyone agrees to it, it will

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implement it. So it's an open source project. There's been

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many updates to the Bitcoin network since it's been created,

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and it's because of the open source community. Another project

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that's open source is Lama of Meta. The Meta AI

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model is actually open source, and that's why you saw.

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We'll talk more about why Meta got a bid this week,

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but that's part of it. They're an open source AI

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versus a chat GPT, which is open ais anthropic AI model.

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Those are closed source models, so they don't use outside talents.

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It's all internally based.

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So if I done it down, an open source means

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they're not working for deep Seek. This could be somebody

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working from home correct contributing to this deep sea.

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Building things on top of the platform. And I kind

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of lind this to an example of Apple App Store.

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The Apple App Store is the infrastructure to how to

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build the app, so it can work on Apple foams.

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But you can build whatever app you want. It can

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be a fitness Pal app, it can be tracking of

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your sport, whatever it may be, is your music app.

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What you build on the platform is completely up to

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the creator. But deep Seek is the foundation. It's allowing

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others to create other AI models on top of it,

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and it's doing so at a more efficient rate than

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the current Western models compared to the technology compared to

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the chips that they have available to them because of

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the Chip Act. The Chip Act did not allow them

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to get the newest and latest and greatest chips. From

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the video, they got some h one hundreds, but they

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also talked about how they might have gotten some new

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chips from South Korea, and the Department of Justice is

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looking into this to potentially say that South Korea bottom

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and then sold them to China to get around the

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the tariff. So they're they're making sure that they didn't

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get access to some of these latest and greatest chips

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in a backwards way and in innutrial.

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If if you don't need the red hot n Vidio chip,

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you certainly don't need variative to cool it.

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I mean that was the prevailing narrative of the market.

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You need the Navidia chip because it's the latest and greatest,

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and that's the only way you can build the hottest

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AI model, the only way. And this flew in the

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face of that.

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It did, it did, and so n LR the the

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EUTF was down ten percent. Yeah, and when people.

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Need to understand it doesn't mean that people are going

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to start using deep seek instead of chat GBT. No

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American company is going to build anything on a Chinese

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AI model. There's the security risks there are obvious, but

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the idea is okay, Well, these AI models here in

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the United States, potentially they don't need to be using

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the latest and greatest chips. They could be saving money.

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They're over spending on this AI development.

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That's why I think like a company like AMD, for example,

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I know a lot of chip stocks got absolutely crushed,

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and AMD was one of them. I think they lost

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about six to seven percent this week. But they were

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the sister company to Nvidia in some sort of way,

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right a two year low, you're low, but they hung

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they hung in there, they hung in there. They caught

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a bit better.

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Better than most, better than most. I gotta tell you

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the even that the power companies, if we're not going

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to need these all of these high power chips, we're

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gonna not going to need the power company. So Consolation

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Energy down twenty percent, straight down thirty percent, Evranova down

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twenty percent, uh energy stock after energy stock.

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Now, and I mean the big one, like you said,

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was that VRT For people who don't know, I mean

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I lost forty five percent one day. Yeah, it's in

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one day, and it was all because VRT, its entire

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business model is based on the Blackwell chip.

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Yeah, they're out of business if you don't need the

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black Wall chip there, and they're out of bit.

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Right because the current cooling machanisms are fine for the

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current chips. It's when you get to these new and

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latest and greatest you need specialized cooling. And that's where

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VRT specialized. And like you said, with these other utilities

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in nuclear, you don't need as much energy if you

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don't need these specialized cooling systems.

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The collateral damage was just unbelievable, wasn't it. Yes, And

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then video came out the next day and they said

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they applaud deep cheek that they thought they had done

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a good job of building training wheels for the bicycle,

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but if you want to be on in the tour

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de front, you have to come see yes, And that's

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pretty much their response to that. Now, with that said,

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the Nasdaq was down six hundred points on Monday. It

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bounced back four hundred points on Tuesday, so finish the

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week down one and a half percent.

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Let's before based on that risk of saying the video

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had the six hundred billion dollar loss all investments come

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with just that risk. So let's talk about the disclosure

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real quick.

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Yeah, Hey, I want to say, let's let's finish up

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this thought on the deep seak thing had a couple

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or just a couple more things in video for the week.

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For the weekend, Vidio down sixteen percent. Right, So where

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we go with the n video? What do you think,

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Dylan buyer? Sealer?

228
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Hold right now? You hold?

229
00:11:12.759 --> 00:11:14.440
I mean if it drops a little more than buying,

230
00:11:14.720 --> 00:11:16.200
and like, if you don't have a position, I think

231
00:11:16.240 --> 00:11:17.320
it might be a time to get in.

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But if you have some already, I will just hold it.

233
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God, I'll talk about after disclosure by sealer hold. I

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don't know. I don't know right now?

235
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How about you? God doesn't have an opinion.

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I'm holding.

237
00:11:29.360 --> 00:11:32.159
I'm holding where it is. I'm not out adding to

238
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it and I'm not selling it.

239
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I think that I think there's a possibility that this

240
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whole thing is going to delay orders for them, and

241
00:11:40.919 --> 00:11:44.679
I think there's some downside left for Nvidia, not because

242
00:11:44.720 --> 00:11:47.480
it's not a spectacular company with a spectacular product, but

243
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I really think it's going to delay some of the orders.

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The one thing that's really bullish for in the video

245
00:11:52.000 --> 00:11:53.399
is going to be that Trump's going to be on

246
00:11:53.440 --> 00:11:55.840
their side. Trump doesn't like that when Chinese companies does

247
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something better than American companies, we'll put so he's going

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to come out and say this is a bunch of

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below America. First, we're behind the video.

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And especially going to get a bit, but especially when

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it affects the markets the way that it did. Disclaimer

252
00:12:06.600 --> 00:12:08.159
real quick. The show is sponsored by the Green Brick

253
00:12:08.200 --> 00:12:10.000
Financial Group and you can listen on seven to ninety

254
00:12:10.080 --> 00:12:14.440
KNSD or iHeartRadio. The show discusses different products, investment products

255
00:12:14.480 --> 00:12:16.799
and strategies. Every product and strategy have some type of

256
00:12:16.840 --> 00:12:19.919
an inherent risk. We strongly encourage our listeners to properly

257
00:12:20.000 --> 00:12:23.120
understand the risk to determine whether to buy, sell, or hold.

258
00:12:23.639 --> 00:12:25.159
The show has been on air for over thirty years.

259
00:12:25.159 --> 00:12:27.480
A green Brik Financial Group is registered with SEC and

260
00:12:27.519 --> 00:12:30.120
a member of FINRA and CIPIK. Visit our website at

261
00:12:30.120 --> 00:12:32.200
Greenbrik Financial dot com for some more information.

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00:12:32.480 --> 00:12:35.240
So depending on that risk, what we saw is that

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00:12:35.320 --> 00:12:37.960
on all time high day on Friday when we closed

264
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last week on Monday, we had a two percent drop.

265
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That's only happened two other times since nineteen seventy that

266
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you had a two percent drop following a day where

267
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you close that at all time.

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High, all time high for the S and P five hundred.

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Okay, yeah, so it doesn't happen most of the time,

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and but on average when it does happen, it doesn't

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really lend a signal of anything. So really, right now

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the major top three things to watch that are going

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to impact markets moving forward. Next week we have a

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whole bunch of earnings reports out of big, big companies

275
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too that are really going to impact markets. We have

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economic reports that is going to be labor oriented next

277
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week on Friday, see what labor market says. The Fed

278
00:13:19.799 --> 00:13:22.840
is increasingly saying that they don't care about the labor market,

279
00:13:23.039 --> 00:13:24.720
which is really interesting.

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If that's all they focused on.

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They focused on it for like three or four months,

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00:13:28.120 --> 00:13:29.639
like that's the biggest thing in the world, and now

283
00:13:29.679 --> 00:13:33.679
they don't care about it anymore. So it's back to inflation.

284
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We got PC on Friday this week and it came

285
00:13:37.240 --> 00:13:39.799
in pretty much in line with expectations. I think it's

286
00:13:39.840 --> 00:13:41.960
a couple of weeks until we get the next inflation numbers,

287
00:13:42.000 --> 00:13:44.080
So it's really going to be earnings and then the

288
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Trump and AI developments, if we have any more AI

289
00:13:46.399 --> 00:13:49.080
developments at a deep seek or any other part of

290
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the sector, as well as if Trump says anything big.

291
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He's started to say some tariffs about Canada. We'll have

292
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to see exactly what that looks at.

293
00:13:59.240 --> 00:14:02.200
Yes, he's and that's why the markets dropped off on

294
00:14:02.240 --> 00:14:04.039
Friday because they announced that they're going to go implement

295
00:14:04.080 --> 00:14:06.759
them on Saturday. So they've been implemented now when this

296
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is airing, it's twenty five percent tarots on Mexico and

297
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Canada and a ten percent duty on China.

298
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Is what's being added.

299
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The duty on China.

300
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In retaliation.

301
00:14:17.759 --> 00:14:21.559
It's the Press Secretary says, in retaliation the illegal fentanyl

302
00:14:21.639 --> 00:14:24.399
that have been sourced and allowed to distribute into the US.

303
00:14:25.279 --> 00:14:26.360
Okay, So that's what their basis.

304
00:14:26.480 --> 00:14:28.759
He also put tariffs on Canadian oil. I don't know

305
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to what extent, but that's gonna obviously impact oil companies.

306
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A couple oil companies reported this week exce on one

307
00:14:35.639 --> 00:14:39.519
of them, which did I think Friday morning the stock

308
00:14:39.600 --> 00:14:41.039
kind of yawned. I mean, I think it was down

309
00:14:41.080 --> 00:14:43.519
maybe two percent after the report, didn't really do much,

310
00:14:43.720 --> 00:14:46.519
but I'm really interested in the Exxon and Chevron space

311
00:14:46.840 --> 00:14:50.559
with obviously Trump Saint Drill, Baby Drill. The first idea is, okay,

312
00:14:50.559 --> 00:14:52.120
oil price is lower, why would you want to be

313
00:14:52.159 --> 00:14:55.440
in an oil company? But they are the companies that

314
00:14:55.480 --> 00:14:57.720
are going to be producing a lot. I mean, they

315
00:14:57.759 --> 00:15:01.960
have a lot of offshore drilling sites, and those offshore

316
00:15:02.039 --> 00:15:05.720
drilling sites, according to some research, is a cheaper break

317
00:15:05.759 --> 00:15:08.000
even point than the onshore drilling sites.

318
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On Chevron on Friday reported disappointing and quarterly results. I

319
00:15:12.879 --> 00:15:15.039
didn't look at that cause it wasn't it down seven bucks.

320
00:15:15.240 --> 00:15:16.200
I didn't look at Chevron.

321
00:15:16.399 --> 00:15:18.840
I think Chevron had had a rough day on Friday

322
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and Exon down as well. You know, it depends on

323
00:15:21.279 --> 00:15:23.759
where oil settles in. If oil is going to go

324
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down into the fifties, then Exon and Chevron are not

325
00:15:27.320 --> 00:15:28.480
where you're gonna want to have money.

326
00:15:28.559 --> 00:15:29.120
No, definitely.

327
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I just I don't see the upside in the oil

328
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stocks at this point.

329
00:15:32.919 --> 00:15:35.200
But I mean, if you're putting tariffs on Canadian oil,

330
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that would why did you bring prices up, wouldn't it?

331
00:15:41.240 --> 00:15:43.960
They probably have I'm sure they have drilling operations in Canada.

332
00:15:44.000 --> 00:15:46.559
I mean, I'm sure that the supply will increase, but

333
00:15:46.879 --> 00:15:49.840
the demand's not going anywhere. And that's what I think

334
00:15:50.240 --> 00:15:52.759
this price action in oil is a little overdone.

335
00:15:53.080 --> 00:15:55.639
But I think the demand is going somewhere. I mean,

336
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I think the demand is declining in oil. Yes, how well,

337
00:16:01.080 --> 00:16:02.559
you got a couple of things. First of all, a

338
00:16:02.679 --> 00:16:04.480
nuclear if nuclear does get.

339
00:16:04.399 --> 00:16:06.879
Legs, but how long is that gonna take?

340
00:16:07.360 --> 00:16:10.960
Depends to go with the s l R, s MR

341
00:16:11.120 --> 00:16:14.240
the smaller ones, right, you can whip those out, but those.

342
00:16:14.120 --> 00:16:17.080
Aren't even they're not even commercialized yet, right.

343
00:16:17.120 --> 00:16:19.639
And you have you have more and more electric vehicles

344
00:16:19.679 --> 00:16:20.320
every day.

345
00:16:20.200 --> 00:16:22.320
But those are still running on a fossil fuel grid.

346
00:16:22.480 --> 00:16:23.919
That what does that mean?

347
00:16:24.039 --> 00:16:28.320
You know it runs on oil. Six or six percent

348
00:16:28.360 --> 00:16:31.320
of the grid runs on fossil fuels. Some of that

349
00:16:31.440 --> 00:16:33.399
is obviously natural gas. You have some cold when you

350
00:16:33.399 --> 00:16:36.360
have oil too. A lot of our grid is relying

351
00:16:36.399 --> 00:16:36.799
on oil.

352
00:16:37.120 --> 00:16:39.399
I just think that the demand for oil is going

353
00:16:39.440 --> 00:16:41.399
to decline and the supply is going to increase, and

354
00:16:41.440 --> 00:16:43.159
I think it's going to mean lower oil prices.

355
00:16:43.200 --> 00:16:45.200
Yeah, I can't. I can't imagine a world where we

356
00:16:45.279 --> 00:16:48.080
are needing more and more energy that we're going to

357
00:16:48.159 --> 00:16:49.240
use less and less oil.

358
00:16:50.519 --> 00:16:54.200
Okay, okay, that's fair. That's fair. You want to give

359
00:16:54.240 --> 00:16:55.679
us a summary of what happened, we have done that.

360
00:16:55.840 --> 00:16:58.399
We kind of weekly numbers. So we have the Dow

361
00:16:58.480 --> 00:17:01.039
that went up thirty basis points three tenths of the percentage.

362
00:17:01.120 --> 00:17:03.120
S and P five hundred went down one percent, the

363
00:17:03.200 --> 00:17:06.640
Nasdaq Tech went down one point six percent, the Russell

364
00:17:06.680 --> 00:17:09.359
two thousand small caps went down one percent, and the

365
00:17:09.480 --> 00:17:11.599
RSP equal weight to S and P five hundred went

366
00:17:11.599 --> 00:17:13.119
down fifty basis points.

367
00:17:13.759 --> 00:17:16.759
So we've got the year today to dial up four

368
00:17:16.799 --> 00:17:20.079
point seven. Well, the Nasdaq's up one point six. We

369
00:17:20.160 --> 00:17:21.039
haven't seen that in a while.

370
00:17:21.119 --> 00:17:23.319
I mean the Dow being up this week. I think

371
00:17:23.319 --> 00:17:25.839
we saw it on Monday. We talked about it how

372
00:17:26.200 --> 00:17:30.319
home deep boat lows. Some of these it b which

373
00:17:30.359 --> 00:17:32.759
is the home builders eat have all up around two percent.

374
00:17:33.119 --> 00:17:35.559
So that money was that went out of the video

375
00:17:35.599 --> 00:17:37.599
and the risk assets moved to some of the safe

376
00:17:37.640 --> 00:17:41.200
haven assets. We saw obviously rates go down, so people

377
00:17:41.200 --> 00:17:44.039
were just buying bonds too, but they were definitely moving

378
00:17:44.039 --> 00:17:46.200
into more of the safe side in the equities picture.

379
00:17:46.759 --> 00:17:50.720
Even the value ETFs beat the Nasdaq and the SMP

380
00:17:50.920 --> 00:17:55.640
both in January. So that's that's indicative of people who

381
00:17:55.720 --> 00:17:58.960
are wanting risk off, still want to be involved in

382
00:17:59.000 --> 00:18:02.279
the market, still feel good about Trump two point zero, right,

383
00:18:02.319 --> 00:18:05.599
but are wondering if maybe the high beta stocks like

384
00:18:06.319 --> 00:18:09.160
an n video or maybe not the place to be.

385
00:18:09.359 --> 00:18:12.759
Did you see the cybersecurity stocks off of that you

386
00:18:12.880 --> 00:18:15.039
Seek news that they were the real winners of that?

387
00:18:15.480 --> 00:18:15.640
Oh?

388
00:18:15.680 --> 00:18:15.960
Really?

389
00:18:16.039 --> 00:18:16.240
Yeah?

390
00:18:16.240 --> 00:18:17.359
I mean I missed it completely.

391
00:18:17.400 --> 00:18:19.440
Cyber ETF I think that day went up about two

392
00:18:19.480 --> 00:18:21.759
point three percent. You had CrowdStrike jumping more than nine

393
00:18:21.759 --> 00:18:24.200
percent on that day, hitting a new all time high.

394
00:18:24.240 --> 00:18:27.200
And then I think Halo Alto also had a pretty

395
00:18:27.200 --> 00:18:27.519
good day.

396
00:18:27.599 --> 00:18:28.960
Had to put you on the spot. But what would

397
00:18:29.000 --> 00:18:32.119
be the thinking there security concerns?

398
00:18:32.200 --> 00:18:35.799
I would think, Yeah, I mean if you're building companies

399
00:18:35.839 --> 00:18:38.240
on a deep seek but again you're not going to

400
00:18:38.279 --> 00:18:38.799
be doing that.

401
00:18:38.880 --> 00:18:42.960
Yeah, but you're saying to get chanticles into the US.

402
00:18:42.839 --> 00:18:44.519
Right, and you needed some type of protection.

403
00:18:44.920 --> 00:18:46.880
We saw how that worked out with TikTok, Right, they.

404
00:18:46.799 --> 00:18:49.400
Would never let that happen. I thought an interesting company

405
00:18:49.400 --> 00:18:51.079
I saw. I just put it on my watch. This

406
00:18:51.119 --> 00:18:53.319
haven't really dug too much into it, but it was

407
00:18:53.359 --> 00:18:56.400
a company specializing in AI cybersecurity.

408
00:18:57.720 --> 00:18:59.359
AI cyber security.

409
00:18:59.440 --> 00:19:01.559
Well, I would think that like crowd striking, Palo all

410
00:19:01.640 --> 00:19:04.000
to have something going there. I mean, there's kind of lead.

411
00:19:04.960 --> 00:19:10.880
I guess you know this says AI Cloud Networking Solutions. Okay, whatever,

412
00:19:10.920 --> 00:19:16.880
that Arrow company, it's it's a net No, No, it's

413
00:19:16.880 --> 00:19:21.960
an actual company. I'm yeah, it's Arista Networks. But I

414
00:19:22.039 --> 00:19:23.880
just thought I thought it was interesting because you're going

415
00:19:23.920 --> 00:19:25.960
to start seeing these companies just throw AI on it,

416
00:19:26.039 --> 00:19:28.279
you know, whether it means that it actually makes it

417
00:19:28.559 --> 00:19:31.480
new or it's just a marketing scheme.

418
00:19:31.519 --> 00:19:33.440
I mean, you had, like we've talked about on the show.

419
00:19:33.480 --> 00:19:36.880
You had that Quantum energy drink that's that changed their

420
00:19:36.920 --> 00:19:39.480
name to Quantum and then rallied thousand percent.

421
00:19:39.920 --> 00:19:42.519
Whatever the hot whatever the hot commodity is.

422
00:19:42.720 --> 00:19:47.680
Well, because we talked about how like Quantum cybersecurity or

423
00:19:47.839 --> 00:19:51.759
our Quantum cloud computing, eventually that that's that would come.

424
00:19:51.839 --> 00:19:54.759
But I don't know how AI would help that space.

425
00:19:55.200 --> 00:19:57.200
You just got to be careful when you see words

426
00:19:57.240 --> 00:20:00.960
or buzzwords, really make sure there's a business model there

427
00:20:01.000 --> 00:20:03.440
before you're investing in something just because of words.

428
00:20:03.680 --> 00:20:06.119
Yeah, back in the back in the late nineties and

429
00:20:06.160 --> 00:20:08.799
early two thousand, everything was dot com right, and it

430
00:20:08.799 --> 00:20:11.119
wouldn't matter whether you were even involved in computers, your

431
00:20:11.160 --> 00:20:13.640
name had dot Com in it. It was ridiculous. Calm

432
00:20:13.720 --> 00:20:16.480
energy drinks, Yes, yeah, there you go. Yeah, the Federal Way.

433
00:20:16.559 --> 00:20:18.519
By the way, the Federal Reserve did meet this week

434
00:20:18.559 --> 00:20:21.079
on interest rates and decided to leave them the same.

435
00:20:21.319 --> 00:20:23.599
Jerome didn't really want to talk to No, he didn't.

436
00:20:23.359 --> 00:20:26.160
Want to say much and ask him about Trump beating

437
00:20:26.200 --> 00:20:27.839
him up, and he's essentially.

438
00:20:27.599 --> 00:20:29.400
But he has no contact with him whatsoever.

439
00:20:29.440 --> 00:20:31.599
He had no contact. Wish him the best, you know.

440
00:20:31.839 --> 00:20:34.359
I looked it up. I was like, could the president

441
00:20:34.400 --> 00:20:36.599
ever get rid of the Federal Reserve and the way

442
00:20:36.640 --> 00:20:39.839
it's structured now, it's very difficult for him to do it. Okay,

443
00:20:39.880 --> 00:20:41.839
the first one the first, So there's been two other

444
00:20:41.880 --> 00:20:44.359
central banks that have been taken out of the United States,

445
00:20:44.400 --> 00:20:47.039
so this is technically the third one. The first and second.

446
00:20:47.920 --> 00:20:49.799
I don't know how I think it's It was basically

447
00:20:49.799 --> 00:20:53.160
a charter because the second one, Andrew Jackson, he just said, yeah,

448
00:20:53.200 --> 00:20:55.920
I'm vetoing the charter. We're not going to keep you on.

449
00:20:56.799 --> 00:20:59.440
And so for the seventy years America had no central bank.

450
00:20:59.680 --> 00:21:02.400
Then the Federal Reserve Act came in and pretty much

451
00:21:02.640 --> 00:21:04.839
entrenched them to the point where the president couldn't do

452
00:21:04.880 --> 00:21:10.039
it by himself. He could appoint new governors that potentially

453
00:21:10.119 --> 00:21:12.559
might make a change from inside the Federal Reserve. But

454
00:21:12.599 --> 00:21:15.000
people don't understand it's Federal Reserve is a private business.

455
00:21:15.079 --> 00:21:18.599
It's completely separate from the from the government, and they

456
00:21:18.640 --> 00:21:21.759
are chartered to handle our money supply. They have a

457
00:21:21.799 --> 00:21:24.440
group of private shareholders, and they have a border reserve

458
00:21:24.559 --> 00:21:26.839
just like a company does, and they report to the

459
00:21:26.839 --> 00:21:29.200
Congress twice a year to talk about how they're doing

460
00:21:29.400 --> 00:21:32.880
on monetary policy and realistic The only way you can

461
00:21:32.920 --> 00:21:37.039
get them removed from the monetary system is to have

462
00:21:37.079 --> 00:21:40.400
a Congress enact at bill, have it past Congress, have

463
00:21:40.440 --> 00:21:43.640
it pass Senate, and the President would have to sign

464
00:21:43.680 --> 00:21:46.400
off on it. So it's pretty entrenched at this point.

465
00:21:46.519 --> 00:21:48.559
Yeah, I think, you know, if you've got it, you've

466
00:21:48.559 --> 00:21:50.559
got to say though that I think most people would

467
00:21:50.559 --> 00:21:53.839
agree that Paul's done a pretty good job inflation from

468
00:21:53.880 --> 00:21:57.359
nine percent down to to and change, and done it

469
00:21:57.400 --> 00:22:00.359
in a deliberate manner that didn't blow up. I mean,

470
00:22:00.599 --> 00:22:03.960
there was a lot of talk about how there's no

471
00:22:04.480 --> 00:22:09.559
possible way to orchestrate a smooth landing, right, and he did.

472
00:22:09.759 --> 00:22:12.400
He did, so, I give him a lot of credit

473
00:22:12.440 --> 00:22:15.039
for that. Uh. They left their key interest rate in

474
00:22:15.119 --> 00:22:18.920
check on Wednesday, they said the economy continues to expand

475
00:22:18.960 --> 00:22:21.680
at a solid path. God you said they took their

476
00:22:21.680 --> 00:22:23.880
focus off of their jobs market, which has been kind

477
00:22:23.880 --> 00:22:25.359
of their cyber focus.

478
00:22:25.039 --> 00:22:27.279
For They said that they couldn't read into it because

479
00:22:27.279 --> 00:22:28.440
of the immigration.

480
00:22:28.759 --> 00:22:28.960
Yeah.

481
00:22:29.519 --> 00:22:31.160
Yeah, and so it's like we don't know how to

482
00:22:31.200 --> 00:22:34.720
necessarily impact like how much this is going to impact labors,

483
00:22:34.799 --> 00:22:38.599
and there's they said labor is not a significant contributor

484
00:22:38.640 --> 00:22:41.359
to inflation, So why did they care about it in

485
00:22:41.359 --> 00:22:42.039
the first place.

486
00:22:42.319 --> 00:22:44.680
Yeah, they cared about it all they did.

487
00:22:44.839 --> 00:22:45.759
So, I don't get it.

488
00:22:46.000 --> 00:22:47.799
We saw the first look at how is it not?

489
00:22:48.440 --> 00:22:53.319
That's what was it not said? When Q four.

490
00:22:53.200 --> 00:22:55.880
GDP came in a little softer than expected two point

491
00:22:55.880 --> 00:23:00.519
three percent, Again, that's rear view mirror. Who cares? I mean,

492
00:23:01.240 --> 00:23:04.279
how are you going to react to what happened the

493
00:23:04.319 --> 00:23:06.880
last three months? Tell me what's going to happen the

494
00:23:06.920 --> 00:23:09.240
next three months. Let me react to that or the

495
00:23:09.279 --> 00:23:12.400
next six months. Todd's hid PCE up two point six percent.

496
00:23:12.480 --> 00:23:16.319
That was writ in line with expectations. I think by

497
00:23:16.599 --> 00:23:21.720
any measure you want to pick, the market is richly valued.

498
00:23:23.440 --> 00:23:26.160
And when you have a richly valued market and you

499
00:23:26.240 --> 00:23:28.960
have a little bit of a one off, like we

500
00:23:29.160 --> 00:23:32.240
did on Monday morning with Deep Feek, there can be

501
00:23:32.279 --> 00:23:40.079
some gut wrenching decline. We offer risk analysis tools, We

502
00:23:40.200 --> 00:23:44.039
offer lots of ways to help you identify what your

503
00:23:44.119 --> 00:23:47.559
tolerance for risk is and we'd be love to talk

504
00:23:47.599 --> 00:23:50.039
to you about that. So give us a call. Come

505
00:23:50.079 --> 00:23:52.240
on in the guy that's still doing financial plans left

506
00:23:52.279 --> 00:23:54.759
and right. If you're one of the few people out

507
00:23:54.759 --> 00:23:57.839
there that has not taken advantage of the free financial plan,

508
00:23:58.799 --> 00:24:01.400
we'd love to have you do it. It's no obligations,

509
00:24:01.400 --> 00:24:05.960
no strings attached, and we do the guys do several

510
00:24:06.000 --> 00:24:09.240
of them every week. And that or risk or your

511
00:24:09.319 --> 00:24:12.759
risk talent tolerance, or you want to review your current

512
00:24:12.759 --> 00:24:16.359
portfolio with somebody else and tell you what your risk

513
00:24:16.599 --> 00:24:19.279
score is there and see if it lines up with

514
00:24:19.319 --> 00:24:21.680
what your tolerance for risk is. We'll be back with

515
00:24:21.880 --> 00:24:24.119
the next segment of the Money Matter Show right after

516
00:24:24.160 --> 00:24:27.039
this message. Welcome to February.

517
00:24:28.279 --> 00:24:30.720
Welcome back to the Money Matter Show. My name is Toglik.

518
00:24:30.759 --> 00:24:34.160
I'm here with Dylan Greenberg, David Sherwood, and Sebastian Borscini.

519
00:24:34.640 --> 00:24:36.559
This week, the big news was around deep Seek, a

520
00:24:36.599 --> 00:24:40.400
company out of China that had the ability to figure

521
00:24:40.400 --> 00:24:43.480
out how to use chips efficiently that Western companies could not.

522
00:24:43.960 --> 00:24:46.960
But the real idea was that they're an open source company.

523
00:24:47.000 --> 00:24:49.400
And another company that has an open source AI model

524
00:24:49.440 --> 00:24:52.240
is Meta. And Meta was a big contributor because even

525
00:24:52.279 --> 00:24:56.319
though most risk assets fell off a cliff on Monday Test,

526
00:24:56.519 --> 00:25:00.400
almost all tech assets were selling off, Meta held in there.

527
00:25:00.839 --> 00:25:03.960
Apple was another one because all but yeah, Meta was

528
00:25:04.000 --> 00:25:07.359
the real one. I mean that open source platform is

529
00:25:07.519 --> 00:25:11.720
super interesting. On top of that, Meta's integrated already into

530
00:25:11.759 --> 00:25:15.559
social life. You already have Facebook, you already have WhatsApp,

531
00:25:15.599 --> 00:25:18.680
you already have Instagram. All these apps are very easily

532
00:25:18.720 --> 00:25:21.839
integrated into AI, where all of a sudden, your comments

533
00:25:21.880 --> 00:25:24.640
you could just put an AI filter, your pictures, your videos,

534
00:25:24.640 --> 00:25:26.759
your anything you're posting can be AI.

535
00:25:26.960 --> 00:25:28.920
But I like that you mentioned WhatsApp because it's like

536
00:25:29.119 --> 00:25:31.720
it's global. A lot of people internationally use WhatsApp. But

537
00:25:31.720 --> 00:25:33.759
I don't see how you could use AI and WhatsApp.

538
00:25:33.759 --> 00:25:34.880
It's just a messaging tool.

539
00:25:35.240 --> 00:25:37.799
Absolutely, you could use I'm texting my mom a make

540
00:25:37.839 --> 00:25:45.880
this sound like I love her? Okay, I don't know

541
00:25:45.880 --> 00:25:46.400
how to say.

542
00:25:48.119 --> 00:25:49.759
I mean, it's a global Yeah, that's a good point.

543
00:25:49.759 --> 00:25:52.559
App So you could do it for the real time translations.

544
00:25:52.839 --> 00:25:53.559
That's a good point.

545
00:25:53.759 --> 00:25:58.559
Absolutely, yeahs use it for You know, we talk. There's

546
00:25:58.640 --> 00:26:02.880
a lot of different firms offering financial services, and we

547
00:26:03.079 --> 00:26:07.640
like to distinguish ourselves because of the service. We think

548
00:26:07.680 --> 00:26:10.880
our service is next to none. And to that end,

549
00:26:11.680 --> 00:26:13.559
my buddy Sebastian, you want to tell us a little

550
00:26:13.559 --> 00:26:15.039
story about what happened last week.

551
00:26:15.559 --> 00:26:17.920
Yeah, Basically, you know, we've been going through this process

552
00:26:17.960 --> 00:26:21.759
of a advisor, connects portals, new setups, and we had

553
00:26:21.759 --> 00:26:23.799
a client's not going to give his name, but he's

554
00:26:23.799 --> 00:26:25.519
an older client and he'd lived at what a care

555
00:26:25.559 --> 00:26:29.799
home and he was having the biggest trouble ever trying

556
00:26:29.799 --> 00:26:31.759
to get logged into his computer. And I knew exactly

557
00:26:31.799 --> 00:26:34.039
what was going on. He had an old bookmark that

558
00:26:34.079 --> 00:26:36.920
sent him to the old websites. Basically, I went to

559
00:26:36.920 --> 00:26:38.640
his care home and set it up for him and

560
00:26:38.720 --> 00:26:41.079
I don't think that most advisors out there are going

561
00:26:41.359 --> 00:26:41.799
and doing that.

562
00:26:42.039 --> 00:26:44.680
You drove from Camelon River to and he lives West.

563
00:26:44.720 --> 00:26:47.519
Yeah, I was on. After about a thirty minute phone

564
00:26:47.519 --> 00:26:49.039
call with trying to get him set up, I said,

565
00:26:49.039 --> 00:26:50.240
you know what, I'm just gonna come over.

566
00:26:50.440 --> 00:26:52.759
You got in the car, call to the guy's house

567
00:26:53.079 --> 00:26:55.119
and helped him get set up so he could view

568
00:26:55.160 --> 00:27:00.640
his account online that service. Yeah, it's amazing. It's amazing

569
00:27:01.000 --> 00:27:01.839
financial yep.

570
00:27:02.079 --> 00:27:05.319
Well let's go back to Meta because when they did

571
00:27:05.359 --> 00:27:08.599
report their earnings, they were great as well. I mean,

572
00:27:09.119 --> 00:27:11.839
that's what sorted them off to a new all time high.

573
00:27:11.880 --> 00:27:14.799
They finished the week up about six percent. They're over

574
00:27:14.920 --> 00:27:17.440
US seven hundred dollars if I mean, it's absolutely amazing,

575
00:27:17.680 --> 00:27:19.799
just crazy. You remember that stock just at one hundred dollars.

576
00:27:19.920 --> 00:27:21.680
I remember was that one hundred dollars. It looked like

577
00:27:21.720 --> 00:27:23.880
a car heading towards the brick wall at about eighty

578
00:27:23.880 --> 00:27:26.680
miles an hour. At Nobody wanted anything to do with.

579
00:27:27.039 --> 00:27:31.000
Spending on on on virtual reality. The company is gonna

580
00:27:31.000 --> 00:27:31.920
go out of whatever.

581
00:27:32.519 --> 00:27:32.880
My year.

582
00:27:33.000 --> 00:27:35.400
Yeah, that first year they spend nine billion dollars on

583
00:27:36.240 --> 00:27:39.519
or they lost nine billion dollars on virtual reality. Everybody

584
00:27:39.519 --> 00:27:44.200
thought Zuckerberg has lost his touch and was crazy. And

585
00:27:44.440 --> 00:27:46.279
the stock I think was what.

586
00:27:47.440 --> 00:27:48.000
Hundred dollars.

587
00:27:49.880 --> 00:27:50.960
When he was talking about that.

588
00:27:51.079 --> 00:27:53.640
Yeah, at the end of twenty two in October, they were.

589
00:27:53.480 --> 00:27:55.759
Talking about how it was crazy overvalue a three hundred

590
00:27:55.759 --> 00:27:58.400
dollars a share too, just keeps going.

591
00:27:58.279 --> 00:27:59.759
Kind of give it away. Yeah, every now and then.

592
00:27:59.839 --> 00:28:02.480
You I remember when Google came public, Right, I've been

593
00:28:02.480 --> 00:28:04.839
in the business that long. When Google came public, it

594
00:28:04.880 --> 00:28:07.920
was shortly after the dot com bubble head burst. You

595
00:28:07.960 --> 00:28:10.400
couldn't give it away. They can't lower in the price.

596
00:28:10.400 --> 00:28:11.640
They were going to bring it at one hundred, and

597
00:28:11.640 --> 00:28:14.039
then it was ninety five, then it was ninety finally

598
00:28:14.119 --> 00:28:16.759
eighty five. They found enough people interested in buying it

599
00:28:17.440 --> 00:28:19.599
to get it public. And a heck of a time

600
00:28:19.640 --> 00:28:23.359
bringing Google public because nobody wanted anything to do with

601
00:28:23.400 --> 00:28:24.680
that darn computer stuff.

602
00:28:25.000 --> 00:28:27.559
And and Zuckerberg was on the Rogan podcast a couple

603
00:28:27.599 --> 00:28:30.440
weeks ago and he said, how many people.

604
00:28:30.319 --> 00:28:30.680
Do you.

605
00:28:32.160 --> 00:28:35.640
Use your service? This is meta cover and it was

606
00:28:35.680 --> 00:28:39.039
like two billion people meta? Yeah, Facebook, twenty.

607
00:28:39.319 --> 00:28:41.880
Of the world's Facebook, Instagram, and WhatsApp.

608
00:28:42.039 --> 00:28:44.519
Yeah, all three that's the metaph met.

609
00:28:44.599 --> 00:28:46.759
What appened is more popular internationally.

610
00:28:47.319 --> 00:28:49.599
It's it's huge for international. Yeah, a lot of when

611
00:28:49.640 --> 00:28:52.400
I leave the country, I use What'sapple lot, but I

612
00:28:52.440 --> 00:28:53.480
don't use it within the US.

613
00:28:53.839 --> 00:28:55.119
It's like a text messaging tool.

614
00:28:55.200 --> 00:28:57.759
Yeah, my daughter was at a wedding in Mexico and

615
00:28:57.799 --> 00:29:02.200
I got what app app to communicate with her, and

616
00:29:02.240 --> 00:29:05.240
I was able to communic easily with her on what's App.

617
00:29:05.359 --> 00:29:07.359
I guess I probably couldn't have texted her.

618
00:29:07.440 --> 00:29:10.160
Well, maybe your provider gives it to you. But at

619
00:29:10.160 --> 00:29:11.880
the same time, a lot of providers charge you for

620
00:29:11.920 --> 00:29:15.200
that service right to text internationally or call internationally, so

621
00:29:15.240 --> 00:29:15.799
you could just stoot.

622
00:29:15.880 --> 00:29:18.319
Yeah, you go over country lines. Technically you're in a

623
00:29:18.359 --> 00:29:20.079
different dealing zone.

624
00:29:20.559 --> 00:29:22.920
I guess with that. With that said, though, we have

625
00:29:23.119 --> 00:29:27.039
a client in Brussels, Belgium, and she has an Arizona

626
00:29:27.119 --> 00:29:29.880
cell phone number and I call it and she answers, yeah,

627
00:29:29.920 --> 00:29:31.559
you can have international. It blows me away.

628
00:29:31.720 --> 00:29:32.720
You can still do that?

629
00:29:32.960 --> 00:29:34.839
Well, no, it blows me away. I mean you guys

630
00:29:34.880 --> 00:29:37.119
probably don't remember long distance. I mean you used to

631
00:29:37.200 --> 00:29:39.039
have to go through all kinds of things to call

632
00:29:39.119 --> 00:29:40.319
somebody internationally.

633
00:29:40.559 --> 00:29:42.039
Wasn't a crazy expensive, too.

634
00:29:42.160 --> 00:29:45.799
Crazy expensive, fifteen digit phone numbers. You know, it was

635
00:29:45.880 --> 00:29:47.880
just unbelievable if you could do it at all.

636
00:29:47.759 --> 00:29:49.519
Would you do, like buy those cards or something.

637
00:29:49.839 --> 00:29:51.880
No, it was on your phone bill. You get your

638
00:29:51.880 --> 00:29:54.599
phone bill. It looked a lot like your mortgage. You know,

639
00:29:54.599 --> 00:29:58.480
if you had somebody, you had somebody overseas. Yeah, it

640
00:29:58.519 --> 00:30:00.359
was very expensive in a long distance. What happened a

641
00:30:00.400 --> 00:30:02.799
long distance? I remember your phone bill used to have

642
00:30:02.839 --> 00:30:05.200
the long distance charge down. There's no long distance anymore.

643
00:30:05.440 --> 00:30:06.440
Yeah, you sounds sad.

644
00:30:08.200 --> 00:30:14.039
Fantastic you want that, No, it's fantastic. Hey, good news

645
00:30:14.039 --> 00:30:18.119
for our folks out at Raytheon new all time high

646
00:30:18.200 --> 00:30:21.960
on Tuesday reported, Uh, you always talked about Raytheon a

647
00:30:22.000 --> 00:30:26.000
lot and thought, okay, if Trump really can calm the

648
00:30:26.000 --> 00:30:30.160
world down, even if you can't calm himself down, calm

649
00:30:30.200 --> 00:30:33.680
the world down? Right? What does that mean? Less business

650
00:30:33.680 --> 00:30:36.440
for Raytheon? And what what they reported in their quarterly

651
00:30:36.519 --> 00:30:39.079
report is they're spending a They're getting a lot of

652
00:30:39.119 --> 00:30:43.240
revenue from number one restocking Israel. That's a duh, right,

653
00:30:43.519 --> 00:30:45.519
I mean that Israel has shot off a lot of

654
00:30:45.519 --> 00:30:47.599
Patriot missiles over the last year and a half. Or

655
00:30:47.640 --> 00:30:50.519
so they've got to restock those. So that's number one.

656
00:30:51.000 --> 00:30:55.039
Number two is restocking Ukraine, who has also used a

657
00:30:55.039 --> 00:30:57.200
lot of Patriot missiles. But the third one I hadn't

658
00:30:57.240 --> 00:31:00.119
really even thought about is Western Europe, a lot on

659
00:31:00.160 --> 00:31:03.680
the border with Russia, a lot of Patriot Mischill's being

660
00:31:03.680 --> 00:31:05.079
put in place in Finland.

661
00:31:05.079 --> 00:31:06.759
And did you see what they had to say about

662
00:31:06.759 --> 00:31:08.599
their guidance moving forward anything?

663
00:31:09.200 --> 00:31:09.400
No.

664
00:31:09.519 --> 00:31:11.720
The only reason I asked was because Lucky Martin also

665
00:31:11.759 --> 00:31:14.240
reported and they dropped about ten percent because of their

666
00:31:14.319 --> 00:31:15.119
horrible guidance.

667
00:31:15.200 --> 00:31:18.119
Yeah, different business, a little different business, similar but different.

668
00:31:18.440 --> 00:31:21.599
But Raytheon a new all time high. I would like

669
00:31:21.640 --> 00:31:22.119
to see that.

670
00:31:23.400 --> 00:31:26.759
And also Raytheon might benefit if they do nuclear production,

671
00:31:27.480 --> 00:31:31.559
nuclear warheads, anything. Trump might want to increase the stockpile,

672
00:31:32.640 --> 00:31:36.680
show some muscle potentially. Maybe Trump's even like We're going

673
00:31:36.720 --> 00:31:38.720
to create an iron dome here in the US or something.

674
00:31:39.039 --> 00:31:41.720
You know. I think Raytheon is is kind of the

675
00:31:41.799 --> 00:31:45.200
quintessential defense company, right, It's kind of like the Baltimore

676
00:31:45.279 --> 00:31:48.920
Ravens of the of the of the of that world.

677
00:31:48.920 --> 00:31:51.440
I mean, they're they're they're all about defense.

678
00:31:51.519 --> 00:31:54.039
I wasn't a bad analogy not bad. I wasn't bad,

679
00:31:54.119 --> 00:31:54.440
thank you.

680
00:31:56.160 --> 00:32:00.559
Not bad anyway. Anyway, it seems like there's a lot

681
00:32:00.599 --> 00:32:03.519
more people out there playing defense than offense. And the

682
00:32:03.559 --> 00:32:06.240
people playing defense are the ones with the money. The

683
00:32:06.240 --> 00:32:09.559
people playing offense are the the you know, hummaus.

684
00:32:09.119 --> 00:32:11.880
And because you have to, they're back into the corner.

685
00:32:11.960 --> 00:32:13.839
Yeah yah, the third world guys who are just trying

686
00:32:13.880 --> 00:32:15.440
to upset the second world.

687
00:32:15.279 --> 00:32:17.079
You know, defense with championships.

688
00:32:17.759 --> 00:32:21.160
Look look, look, look good. Interesting week for gold. New

689
00:32:21.200 --> 00:32:24.319
all time high for gold up twenty nine dollars on

690
00:32:24.359 --> 00:32:25.759
the week to twenty eight to eight. I think it

691
00:32:25.839 --> 00:32:27.279
hit twenty eight thirty five.

692
00:32:27.920 --> 00:32:29.240
Was it up that day?

693
00:32:29.759 --> 00:32:32.599
Yeah, I was. I was in a jeweler on Thursday

694
00:32:33.000 --> 00:32:35.200
and this is one of the top jewelers in talent,

695
00:32:35.240 --> 00:32:37.119
and I was talking about and he said, you know what,

696
00:32:37.279 --> 00:32:41.640
we don't get it. We don't understand how or why

697
00:32:41.799 --> 00:32:45.039
gold is doing this. And the only thing, and it

698
00:32:45.599 --> 00:32:47.920
used to move inversely with the US dollar. It's not

699
00:32:48.039 --> 00:32:51.599
doing that anymore. It's just going up. And it used

700
00:32:51.640 --> 00:32:55.160
to be because it concerns about inflation. Inflation is coming down,

701
00:32:55.200 --> 00:32:59.400
so it's not that is it concerns about war? Well,

702
00:32:59.599 --> 00:33:02.640
Trump's kind of trying to wind down the war. So

703
00:33:02.680 --> 00:33:05.559
it's not that I think it's international buyer. I think

704
00:33:05.559 --> 00:33:09.920
you're right, Todd. I think out there is internationally. Maybe

705
00:33:09.920 --> 00:33:12.000
it's one country, maybe it's a dozen pountries.

706
00:33:12.519 --> 00:33:15.559
It's got to be the the brick countries. They don't

707
00:33:15.640 --> 00:33:17.559
like the dollar. So if they could do anything that

708
00:33:17.640 --> 00:33:20.680
shows that gold is going up against the dollar, it's

709
00:33:20.680 --> 00:33:23.400
probably not hurting them. You know, more and more people

710
00:33:23.400 --> 00:33:26.079
say I'd rather use the gold than as my transaction,

711
00:33:26.240 --> 00:33:29.359
and then hopefully over time this is their idea. Hopefully

712
00:33:29.359 --> 00:33:33.440
over time the dollar becomes less value, well, less used

713
00:33:33.559 --> 00:33:34.960
in terms of daily transactions.

714
00:33:35.200 --> 00:33:37.599
I think it gives that your thought process there on

715
00:33:37.640 --> 00:33:42.440
gold being bought by international countries of more validity. Is

716
00:33:43.200 --> 00:33:47.119
gold always used to be a fraction of platinum. Platinum

717
00:33:47.160 --> 00:33:50.920
is far more rare than gold, and platinum always used

718
00:33:50.960 --> 00:33:56.160
to trade higher than gold, fifteen twenty five percent higher

719
00:33:56.200 --> 00:33:59.880
than gold. Always it's now one third the price of gold,

720
00:34:00.400 --> 00:34:04.160
platinum one third the price of gold. Wow, And it's

721
00:34:04.200 --> 00:34:07.200
always been more expensive than gold because it's more rare

722
00:34:07.319 --> 00:34:10.920
than gold. And we'll talk again talking to the jeweler

723
00:34:10.920 --> 00:34:13.159
about he said it just we don't get it, you

724
00:34:13.320 --> 00:34:17.119
understand it, and and that would be.

725
00:34:16.239 --> 00:34:20.159
Someone's doing it for strategic reasons, yes, for monetary yes,

726
00:34:20.400 --> 00:34:21.199
game reasons.

727
00:34:21.320 --> 00:34:23.239
Yes. I think you're absolutely right on that. And so

728
00:34:23.519 --> 00:34:26.320
how high it goes? Who knows? Oil finished a week

729
00:34:26.360 --> 00:34:29.280
down two dollars to twenty five cents seventy two for another.

730
00:34:29.559 --> 00:34:31.960
You know, part of that space that is affecting gold

731
00:34:32.079 --> 00:34:34.760
is part of the rates, you know, And I think

732
00:34:34.800 --> 00:34:38.400
that if you have rates come back down, potentially you

733
00:34:38.480 --> 00:34:41.639
don't have gold as much. I mean if when rates

734
00:34:41.639 --> 00:34:44.840
come down, the risk asset picture gets more attractive, at

735
00:34:44.920 --> 00:34:45.719
least historically.

736
00:34:45.880 --> 00:34:48.880
Yeah. Well again, it's moving inversely. It's like a teeter totter.

737
00:34:48.960 --> 00:34:51.599
Right when gold would go up, the dollar was going down,

738
00:34:52.360 --> 00:34:54.800
and dollar goes down because interest rates are going down.

739
00:34:54.880 --> 00:34:57.440
So as interest rates go down, gold goes up. Advice

740
00:34:57.599 --> 00:35:00.000
you know, it's been doing the aposto option.

741
00:35:00.400 --> 00:35:02.599
When we've been looking at TLT for a while here,

742
00:35:02.719 --> 00:35:06.039
and this is a it's a really interesting space to

743
00:35:06.079 --> 00:35:09.199
look at it. I mean, it's eighty seven on TLT.

744
00:35:09.440 --> 00:35:13.760
Another place PLT is the I shares ETF for the

745
00:35:13.920 --> 00:35:19.519
twenty to twenty five year treasury twenty yeah plus yeah, yeah,

746
00:35:19.599 --> 00:35:22.000
And then another one we like is the eed V,

747
00:35:22.159 --> 00:35:24.719
which is the twenty to thirty year bond, which has

748
00:35:24.760 --> 00:35:29.599
a little more fluctuations dependent on the interest rates how

749
00:35:29.639 --> 00:35:32.639
they move, so we I don't think rates are going

750
00:35:32.719 --> 00:35:35.119
much higher than where they are now. I think if anything,

751
00:35:35.159 --> 00:35:36.519
five on the ten year is going to be the

752
00:35:36.559 --> 00:35:38.880
max if it can somehow get there again. But there's

753
00:35:38.880 --> 00:35:41.159
gonna there's a huge resistance level there that I think

754
00:35:41.159 --> 00:35:43.400
it will like it. That'll be the top and something.

755
00:35:43.440 --> 00:35:45.239
Now at the end of another segment, we'll be back

756
00:35:45.280 --> 00:35:47.360
with the third segment of The Money Matter Show. Thanks

757
00:35:47.360 --> 00:35:50.360
again for joining us on this warmer Sunday morning.

758
00:35:51.599 --> 00:35:53.280
Welcome back to the Money Matter Show. My name is

759
00:35:53.320 --> 00:35:56.079
Sebastian Borsini here with Todd click Junior, Dylan Greenberg, and

760
00:35:56.159 --> 00:35:56.960
David Sherwood.

761
00:35:57.800 --> 00:35:59.960
A really fatal week those of you just tuning in.

762
00:36:00.400 --> 00:36:04.639
Yeah, a lot of stuff happen, like just market wise,

763
00:36:04.760 --> 00:36:06.880
ends us all over, you know, with the plane crash

764
00:36:06.880 --> 00:36:09.039
and everything like that. And then to end Friday you

765
00:36:09.119 --> 00:36:11.559
had the announcement of the terrorists being put in place

766
00:36:11.599 --> 00:36:12.280
on Saturday.

767
00:36:12.760 --> 00:36:13.679
It's a lot going on.

768
00:36:13.760 --> 00:36:16.199
If you ever miss anything, you just go to our website.

769
00:36:16.199 --> 00:36:18.199
We have all the resources there where you can access

770
00:36:18.199 --> 00:36:21.559
our YouTube page for weekly market updates. Our TV shows

771
00:36:21.599 --> 00:36:25.440
we are weekly TV shows on KVOA Sunday morning and

772
00:36:25.519 --> 00:36:29.159
Sunday Night after the News on NBC. We also have

773
00:36:30.079 --> 00:36:33.719
the Saturday radio shows constantly. People love to hear those.

774
00:36:34.000 --> 00:36:36.119
We've bringing a lot of appointments from people on the

775
00:36:36.119 --> 00:36:38.840
Saturday listeners. We always had our flagship show on Sunday

776
00:36:39.199 --> 00:36:40.760
eight to ten, but if you ever miss it, just

777
00:36:40.800 --> 00:36:43.719
go to our podcast Paige or whatever your favorite podcast

778
00:36:43.760 --> 00:36:46.039
is type in Money Matters with Dean Greenberg. You can

779
00:36:46.159 --> 00:36:47.519
listen to it on demand.

780
00:36:48.000 --> 00:36:52.679
Yeah, the Saturday shows are more overall financial planning, macroeconomics,

781
00:36:52.679 --> 00:36:55.679
and longer term because we record them. The Sunday show

782
00:36:55.760 --> 00:36:59.280
is more current events. Yeah, obviously recorded every Friday, but

783
00:36:59.320 --> 00:37:01.079
they all have a lot of information, especially with that

784
00:37:01.119 --> 00:37:04.320
financial plan that we always talk about because we find

785
00:37:04.320 --> 00:37:06.199
a lot of benefit from a lot of use out

786
00:37:06.239 --> 00:37:09.719
of the financial plan, helping people do different scenarios with

787
00:37:09.800 --> 00:37:11.360
what they're trying to look for. We've been doing a

788
00:37:11.400 --> 00:37:14.159
lot of roth conversion scenarios about whether it makes sense,

789
00:37:14.199 --> 00:37:16.559
whether it doesn't make sense, how much to do. We

790
00:37:16.599 --> 00:37:19.559
can give you a general idea Obviously, if you want

791
00:37:19.559 --> 00:37:21.320
a specific number with how much to do in your

792
00:37:21.400 --> 00:37:24.360
roth conversion, you gotta get with the CPA. We're not CPAs.

793
00:37:24.760 --> 00:37:28.079
So it's helpful though to get an idea of if

794
00:37:28.119 --> 00:37:30.800
it's even something you should look into, which recently we've

795
00:37:30.800 --> 00:37:32.880
had a lot of people come in and talk about

796
00:37:32.920 --> 00:37:35.000
roth conversions and end up doing them, because what we

797
00:37:35.079 --> 00:37:38.239
said is taxes are quite low right now, and if

798
00:37:38.239 --> 00:37:40.400
you do them now, you don't know what they're gonna

799
00:37:40.440 --> 00:37:42.679
be later on, so it's benefits there. It's also a

800
00:37:42.679 --> 00:37:45.199
big thing if you're looking to leave money for your heirs,

801
00:37:45.519 --> 00:37:47.840
it might not help you so much now because you're

802
00:37:47.840 --> 00:37:49.239
gonna pay the taxes on it. You're gonna have to

803
00:37:49.239 --> 00:37:50.960
deal with the taxes. If you want to leave money

804
00:37:51.000 --> 00:37:53.480
to your errors and you have that whole bequest that

805
00:37:53.519 --> 00:37:56.000
you want to leave, it might be something to look

806
00:37:56.039 --> 00:37:58.480
into of doing a roth conversion because then they don't

807
00:37:58.480 --> 00:38:00.119
have to pay taxes on it when they inherit it

808
00:38:00.199 --> 00:38:00.599
later on.

809
00:38:00.760 --> 00:38:02.840
It's kind of like a living trust. It's a great

810
00:38:03.039 --> 00:38:05.599
idea that gives you no current benefit.

811
00:38:05.920 --> 00:38:09.159
Speaking of trust exactly, and speaking of trust wills and

812
00:38:09.199 --> 00:38:13.000
Saturday shows, Jonathan Sabilia or estate Planner here eight or

813
00:38:13.039 --> 00:38:15.719
eight thirty am. We toggle between the two time slots

814
00:38:15.719 --> 00:38:18.000
on Saturdays. If you want to listen to his estate

815
00:38:18.039 --> 00:38:20.400
planning show, he does it with mel Greenberg and they've

816
00:38:20.440 --> 00:38:23.239
been getting a lot of good comments on that showst

817
00:38:23.280 --> 00:38:23.559
couple of.

818
00:38:23.519 --> 00:38:25.800
Weeks, bitcoining down about three percent.

819
00:38:26.280 --> 00:38:28.119
We'll go back to bitcoin just in a second. I

820
00:38:28.280 --> 00:38:32.559
just recently completed the Trusted Charitable Advisors program that is

821
00:38:32.639 --> 00:38:35.880
put on through the Jewis Philanthropies of Southern Arizona. And

822
00:38:36.199 --> 00:38:38.039
this is a program that they modeled off of the

823
00:38:38.159 --> 00:38:42.480
jp Jews Philanthropies Network in San Diego, and it's a

824
00:38:42.519 --> 00:38:48.039
network where they get together with attorneys CPAs, estate planning attorneys,

825
00:38:48.039 --> 00:38:51.000
and financial and wealth management planners to get an idea

826
00:38:51.039 --> 00:38:53.920
of how to efficiently give to charities. There's a lot

827
00:38:53.960 --> 00:38:57.079
of people, especially normally the high networth ultra high networth,

828
00:38:57.239 --> 00:39:00.360
but even just the regular day person that wants to

829
00:39:00.679 --> 00:39:02.920
have some type of charitable giving as part of either

830
00:39:02.920 --> 00:39:05.639
their living plan or their estate plan. And a wealth

831
00:39:05.679 --> 00:39:08.559
manager actually does have the ability to help you out

832
00:39:08.559 --> 00:39:12.119
with this. There's a lot of tools donor advise funds, endowments.

833
00:39:12.159 --> 00:39:14.760
The differences between the two how they can be used

834
00:39:14.760 --> 00:39:19.000
for you. There's obviously qualified charitable distributions we can talk about.

835
00:39:19.320 --> 00:39:22.199
Out of your erais how to use your irays efficiently

836
00:39:22.440 --> 00:39:25.480
in terms of charitable giving. And if you are even

837
00:39:25.599 --> 00:39:27.760
using your irays to live on and also want to

838
00:39:27.760 --> 00:39:30.079
do charitable giving, there's a way to do that in

839
00:39:30.119 --> 00:39:32.719
a more efficient matter. So there's a lot of strategies

840
00:39:32.719 --> 00:39:35.159
that people just don't know because of a lack of education.

841
00:39:35.519 --> 00:39:37.519
And that's one of the reasons I took this course

842
00:39:37.679 --> 00:39:41.119
and I'm now able to help. I have the information

843
00:39:41.599 --> 00:39:43.920
and put you into the right hands to get that.

844
00:39:44.280 --> 00:39:47.559
Not only the vetting of the of the nonprofits done

845
00:39:47.599 --> 00:39:50.199
for you, so finding which nonprofits are going to do

846
00:39:50.280 --> 00:39:52.440
what they say they're going to do, actually looking into

847
00:39:52.480 --> 00:39:55.760
their books, looking into their programs, but also finding the

848
00:39:55.840 --> 00:39:58.719
vehicles to do it the most efficient way possible, how

849
00:39:58.760 --> 00:40:01.760
we can donate and have it right off, and things

850
00:40:01.840 --> 00:40:04.559
like this. It's very complex when you when you get

851
00:40:04.559 --> 00:40:06.280
into us. I'm not going to talk about any examples

852
00:40:06.360 --> 00:40:09.840
on the air, but if you have a charitable inclination

853
00:40:09.960 --> 00:40:11.599
that you won't even want to do while you're living

854
00:40:11.840 --> 00:40:14.239
ten percent a year whatever it may be, or you

855
00:40:14.320 --> 00:40:16.480
know that you want to have an x percentage left

856
00:40:16.480 --> 00:40:18.760
to a charity, give us a call. That's set of

857
00:40:18.800 --> 00:40:20.840
a financial plan to make sure we're doing that as

858
00:40:20.840 --> 00:40:21.840
efficient as possible.

859
00:40:22.159 --> 00:40:24.480
I had met with an an older gall in her

860
00:40:24.519 --> 00:40:28.320
eighties last week and she said that she had given

861
00:40:28.599 --> 00:40:32.400
had left much of her estate to charities, and had

862
00:40:32.480 --> 00:40:35.159
left her daughter enough that her daughter would be just fine.

863
00:40:35.400 --> 00:40:37.440
And she says, plus, I'm gonna I'm going to sign

864
00:40:37.480 --> 00:40:39.519
the house over to her in the next couple of weeks.

865
00:40:39.519 --> 00:40:42.239
I said, no, you're not. No, you're not, because that's

866
00:40:42.280 --> 00:40:44.039
a gift. That's a gift. You can give us eighteen

867
00:40:44.079 --> 00:40:46.960
thousand dollars a year, right, that's a gift. That's gift

868
00:40:47.039 --> 00:40:48.960
tax on that. If you just wait till you die,

869
00:40:49.400 --> 00:40:52.440
the capitol gain completely goes away. She gets the house

870
00:40:52.480 --> 00:40:57.119
without any tax. Do not do not gift the real

871
00:40:57.199 --> 00:40:59.880
estate to anyone.

872
00:40:59.159 --> 00:41:02.719
Or even a highly appreciated stock, highly high appreciated us

873
00:41:02.719 --> 00:41:05.440
that you should not be donating, especially if you're close

874
00:41:05.440 --> 00:41:08.039
to the end of life. It does not make any sense.

875
00:41:08.079 --> 00:41:10.440
You guys were talking a minute ago about the Roth conversion,

876
00:41:10.440 --> 00:41:13.639
and I had a new client come in. He has

877
00:41:13.719 --> 00:41:17.039
intentionally had no income the last two years. He quit

878
00:41:17.079 --> 00:41:20.280
his job, had done very well, had plenty to live on,

879
00:41:20.400 --> 00:41:22.800
and wanted to kind of charge a new course for

880
00:41:22.880 --> 00:41:24.800
his life. So he had two years of no income

881
00:41:25.239 --> 00:41:28.639
and he came in to me to have his assets

882
00:41:28.679 --> 00:41:32.320
managed by us. And he has a large roth ira

883
00:41:33.000 --> 00:41:37.320
and a large but a larger traditional ira. What an

884
00:41:37.360 --> 00:41:40.519
absolute perfect time. And that's something that would have been

885
00:41:40.599 --> 00:41:43.800
uncovered with the financial plan that he never even had

886
00:41:43.840 --> 00:41:47.400
heard of, never even thought about. And had you guys

887
00:41:47.440 --> 00:41:49.719
done a financial plan for him, had he come in

888
00:41:50.119 --> 00:41:53.119
for the free financial plan, he would have saved himself

889
00:41:53.159 --> 00:41:53.880
a ton of money.

890
00:41:53.960 --> 00:41:56.519
Yeah, many people don't realize that the opportunity until it's

891
00:41:56.559 --> 00:41:57.000
too late.

892
00:41:57.280 --> 00:41:59.360
Didn't even know it existed. He never heard of it

893
00:42:00.280 --> 00:42:01.960
because I asked him by it. Why have you not

894
00:42:02.280 --> 00:42:03.800
done that? He goes, I have no idea what you've

895
00:42:03.840 --> 00:42:04.559
been talking about.

896
00:42:05.320 --> 00:42:06.960
In this sense, there's no limit to how much you

897
00:42:06.960 --> 00:42:08.880
can convert. It's just what taxes do you want to

898
00:42:08.880 --> 00:42:10.599
pay on the money. Yeah, so if you want to

899
00:42:10.639 --> 00:42:12.800
go up to a certain tax bracket, then that's the limit.

900
00:42:13.159 --> 00:42:15.639
But ipothetically you could convert your whole traditional ira.

901
00:42:15.960 --> 00:42:18.679
Again, there's no current benefit to you it's for the

902
00:42:18.679 --> 00:42:19.960
people that are coming behind you.

903
00:42:20.320 --> 00:42:23.199
There could be current benefits depends age. Yeah, if you

904
00:42:23.199 --> 00:42:25.719
retire young, there's benefits to you. If you're doing it

905
00:42:25.800 --> 00:42:29.119
late sixties seventies, like right before raw your R and

906
00:42:29.239 --> 00:42:31.639
D start, not so much benefit to you, more for

907
00:42:31.679 --> 00:42:34.039
your errors. If you retire and you're doing it in

908
00:42:34.079 --> 00:42:36.760
the early sixties, then that's more benefit.

909
00:42:36.880 --> 00:42:38.679
I think you need at least fifteen years of tax

910
00:42:38.719 --> 00:42:41.480
free growth to really say that you can make up

911
00:42:41.519 --> 00:42:43.920
the case for the text on the front end.

912
00:42:44.159 --> 00:42:46.280
Yeah. When I when the broth first came out, and

913
00:42:46.320 --> 00:42:48.679
I've been around long enough, I remember that when first

914
00:42:48.719 --> 00:42:52.559
came out, my first visit was to a state planning attorney,

915
00:42:52.599 --> 00:42:54.639
and then to an accountant, and then to another accountant

916
00:42:54.719 --> 00:42:57.719
trying to figure out where does this make sense? And Todd,

917
00:42:57.719 --> 00:43:00.840
they weren't quite as a strangergy you should fifty five.

918
00:43:01.639 --> 00:43:05.119
Beyond fifty five, it makes no sense. Things have changed.

919
00:43:05.679 --> 00:43:09.760
Life expectancy is longer now, and I think your point's valid.

920
00:43:09.760 --> 00:43:11.920
If you've got fifteen years, that's beautiful.

921
00:43:12.199 --> 00:43:14.159
Yeah, I mean you can normally make up for there.

922
00:43:15.360 --> 00:43:17.239
Were you at. Your suggestion is if you're in your

923
00:43:17.239 --> 00:43:20.239
forties or fifties, it could make some sense to do that.

924
00:43:20.599 --> 00:43:22.280
Yeah, I mean it, Just think about it. If you

925
00:43:22.320 --> 00:43:26.239
were in your forty forties right now, would you rather

926
00:43:26.280 --> 00:43:28.199
be contributing to a wroth or a four one K?

927
00:43:28.440 --> 00:43:29.440
That's easy, yeah, right.

928
00:43:29.480 --> 00:43:32.400
So if you have room in your income while working

929
00:43:32.840 --> 00:43:35.880
or in your forties fifty, and you retire early somehow, right, Yeah,

930
00:43:35.920 --> 00:43:37.920
then of course you should take advantage of it, because

931
00:43:37.920 --> 00:43:39.719
if you had earned income, you would go into the roth.

932
00:43:39.760 --> 00:43:42.239
Anyways, I guess I never really thought a conversion made

933
00:43:42.280 --> 00:43:43.920
any sense until you were retired.

934
00:43:44.800 --> 00:43:46.719
Well, of course it doesn't, because most of the time

935
00:43:46.960 --> 00:43:49.960
you're in your highest income brackets while you're working. Sure,

936
00:43:49.960 --> 00:43:52.039
some people have one off scenarios where it's you know,

937
00:43:52.199 --> 00:43:54.800
maybe you got a disability that's not taxed, so you

938
00:43:54.880 --> 00:43:57.239
technically have earned income but it's not taxed, So then

939
00:43:57.239 --> 00:43:59.519
you have a weird one off year where you can

940
00:43:59.559 --> 00:44:01.760
maybe do a rock and version. For the most for

941
00:44:01.800 --> 00:44:03.280
the most part, it's yeah, you have to wait till

942
00:44:03.280 --> 00:44:06.719
you retire because if you're looking at the analysis, your

943
00:44:06.719 --> 00:44:08.440
income is going to fall off a cliff normally when

944
00:44:08.440 --> 00:44:10.280
you retire. From a taxable standpoint, you.

945
00:44:11.519 --> 00:44:12.760
And you know, I talk to you, talk to your

946
00:44:12.920 --> 00:44:15.239
tax prepared, talk to your accountant about it, and see

947
00:44:15.239 --> 00:44:16.920
if it makes any sense. Just say, hey, does the

948
00:44:17.000 --> 00:44:18.119
rock conversion make any sense?

949
00:44:18.400 --> 00:44:18.559
Yeah?

950
00:44:18.599 --> 00:44:20.760
But es, the easier first step is just to come

951
00:44:20.760 --> 00:44:23.760
in and do the financial plan, because it's very easy

952
00:44:23.760 --> 00:44:26.360
to look on it from a cash flow standpoint. If

953
00:44:26.400 --> 00:44:29.719
it's even gonna work, even bring up the ideas of

954
00:44:29.760 --> 00:44:32.519
the accountants. Yeah, and we're free. The accountant may not be,

955
00:44:33.079 --> 00:44:35.360
so come in do it for free. See if it

956
00:44:35.400 --> 00:44:37.119
even makes sense to ask the question, and then you

957
00:44:37.159 --> 00:44:37.760
can go from there.

958
00:44:37.880 --> 00:44:39.880
You're saying you might pay an hourly rate to talk

959
00:44:39.880 --> 00:44:42.079
to the accountant, and you don't. You don't talk to us.

960
00:44:42.280 --> 00:44:45.440
It literally is completely free. It's a risk we take

961
00:44:45.840 --> 00:44:47.440
in the hope that you like us and want to

962
00:44:47.440 --> 00:44:50.599
do business with us. If you don't, you don't. Yeah.

963
00:44:50.639 --> 00:44:52.960
I mean there was three different people this week that

964
00:44:53.079 --> 00:44:55.280
I told rock and versions made no sense.

965
00:44:55.079 --> 00:44:58.679
For Yeah, it just didn't. Yeah, sometimes it doesn't. I

966
00:44:58.679 --> 00:45:00.599
mean I've said it in on nose Wood Toad and

967
00:45:00.599 --> 00:45:03.320
then yes, sometimes it just makes no sense. Let's talk

968
00:45:03.320 --> 00:45:05.480
a little bit about bitcoin. It's all everybody was talking

969
00:45:05.480 --> 00:45:06.320
about it these days.

970
00:45:06.400 --> 00:45:09.079
Yeah, Yeah, bitcoin is that one hundred and two thousand,

971
00:45:09.159 --> 00:45:11.440
it closed. Uh, well, it never closes, but you know

972
00:45:11.440 --> 00:45:14.239
what I mean, one hundred and two thousand. It looks

973
00:45:14.320 --> 00:45:17.199
like right now it's really going to just be following

974
00:45:17.280 --> 00:45:21.719
risk assets wherever it wants to go. I have, based

975
00:45:21.719 --> 00:45:24.280
on what I'm looking at it, I feel like it's

976
00:45:24.320 --> 00:45:26.440
just gonna be another week of range trading and then

977
00:45:26.480 --> 00:45:28.519
maybe a week after that we'll see some price movement.

978
00:45:29.440 --> 00:45:32.719
It just seems like the tailwinds right now for bitcoin

979
00:45:33.280 --> 00:45:38.679
are pretty strong, and it's a completely risk asset. No

980
00:45:38.719 --> 00:45:40.599
one has any idea, No one has any idea what

981
00:45:40.639 --> 00:45:41.039
it's worth.

982
00:45:41.159 --> 00:45:42.679
I was talking to a client and I feel like

983
00:45:43.159 --> 00:45:46.000
I certainly think there's one more push left in bitcoin,

984
00:45:46.280 --> 00:45:48.320
maybe one hundred and twenty five, maybe one hundred and fifty.

985
00:45:48.360 --> 00:45:51.480
But the time horizon on this thing is so difficult

986
00:45:51.559 --> 00:45:53.719
to gauge because they might go to one twenty five,

987
00:45:53.760 --> 00:45:56.239
one to fifty and then six months later got a fifty.

988
00:45:56.559 --> 00:45:58.760
So if you don't perfectly get in and get out,

989
00:45:59.239 --> 00:46:01.679
you might end up a year later down thirty. But

990
00:46:01.800 --> 00:46:03.440
at one point during that year you were up one

991
00:46:03.480 --> 00:46:06.440
hundred percent. And then that's the volatility of bitcoin that

992
00:46:06.440 --> 00:46:08.320
I want people to understand, like, just because you go

993
00:46:08.400 --> 00:46:10.159
in at one hundred, it might go to one fifty.

994
00:46:10.199 --> 00:46:12.079
You're feeling great about yourself, it can easily go from

995
00:46:12.079 --> 00:46:14.559
one fifty to fifty. And it's done this many times,

996
00:46:14.920 --> 00:46:17.880
so you can't Like. That's why I like these bitcoin

997
00:46:17.920 --> 00:46:20.239
etf products that are coming out with the downside protection

998
00:46:20.320 --> 00:46:22.119
of Like, yeah, if if you want three or five

999
00:46:22.119 --> 00:46:24.840
percent of your portfolio with a max downside of twenty percent,

1000
00:46:24.960 --> 00:46:27.719
knowing that that's obviously a very volatile asset, but you

1001
00:46:27.719 --> 00:46:30.400
can't lose more than twenty right, make up to fifty

1002
00:46:30.400 --> 00:46:35.199
five sixty. That's a better risk scenario to be playing,

1003
00:46:35.199 --> 00:46:37.239
to get your feet wet in the scenario then to

1004
00:46:37.280 --> 00:46:40.679
go one hundred percent naked into this underlying position that

1005
00:46:40.760 --> 00:46:43.159
is extremely volatile and if you've never had any experience

1006
00:46:43.199 --> 00:46:45.599
with it, it could put a very sour taste in

1007
00:46:45.639 --> 00:46:48.199
your mouth, even if it's three five percent of your portfolio.

1008
00:46:48.480 --> 00:46:51.440
Yeah. Yeah, I've got a friend at the hike with

1009
00:46:51.480 --> 00:46:53.119
on Tuma Moock and he said, there isn't a lot

1010
00:46:53.159 --> 00:46:57.440
of bitcoin being traded. Apparently a lot of it's pledged

1011
00:46:57.559 --> 00:46:59.039
or whatever. I don't know what the term is.

1012
00:46:59.719 --> 00:47:03.679
I don't know about why he would, He says, I

1013
00:47:03.760 --> 00:47:06.400
know the volume is he was on an early.

1014
00:47:06.119 --> 00:47:09.679
Bitcoin guy he's got he was buying it at fifteen

1015
00:47:09.840 --> 00:47:10.519
hundred dollars.

1016
00:47:10.679 --> 00:47:12.440
Yeah. I mean you can see the daily volume on

1017
00:47:12.480 --> 00:47:15.599
bitcoin on any chart. Doesn't look like it's gone off

1018
00:47:15.599 --> 00:47:16.400
a cliff.

1019
00:47:16.159 --> 00:47:19.559
No, all right, Anyways, it's it's the thing we want

1020
00:47:19.559 --> 00:47:21.199
to leave you with. Is is it a It's a

1021
00:47:21.280 --> 00:47:23.440
risk asset. Everybody seems to be interested in all of

1022
00:47:23.480 --> 00:47:26.400
a sudden and asking questions about it, but it's it's

1023
00:47:26.400 --> 00:47:29.159
a highly risky asset. And we'll be back with the

1024
00:47:29.199 --> 00:47:31.199
second half of the Money Matter Show. Thanks again for

1025
00:47:31.280 --> 00:47:32.880
joining us. We'll be right back.

1026
00:47:33.760 --> 00:47:36.360
Welcome back to the second hour of the Moneymatter Show.

1027
00:47:36.400 --> 00:47:39.000
I'm Dylan Greenberg here with Dave Show with Sebastian Boorsini

1028
00:47:39.320 --> 00:47:41.840
and Todd Glick. For those of you just tuning in,

1029
00:47:41.880 --> 00:47:43.760
the Dow was up point three percent for the week.

1030
00:47:43.800 --> 00:47:47.199
The SMP five hundred was down one percent, the NAZAC

1031
00:47:47.320 --> 00:47:49.519
was down one point six percent, the Rustle two thousand

1032
00:47:49.599 --> 00:47:51.920
was down one percent, and the equal way to SMP

1033
00:47:52.039 --> 00:47:53.800
five hundred was down to half a percent.

1034
00:47:54.440 --> 00:47:55.280
It was of aut a week.

1035
00:47:55.400 --> 00:47:57.760
There was a lot going on deep Seek caused a

1036
00:47:57.760 --> 00:48:00.480
lot of chaos on Monday, which is the AI from

1037
00:48:00.599 --> 00:48:03.039
China that said they could do it cheaper. They like,

1038
00:48:03.079 --> 00:48:05.559
they showed that they could do it cheaper than all

1039
00:48:05.559 --> 00:48:07.159
these companies in the US, and that caused a lot

1040
00:48:07.199 --> 00:48:11.559
of sell off between Nvidia, between Broadcom, all the chips.

1041
00:48:11.599 --> 00:48:13.400
Just had a rough day, but then they bounced back

1042
00:48:13.400 --> 00:48:15.800
the next day. And then we had the American airlines

1043
00:48:15.960 --> 00:48:19.760
crash that just it wasn't really market no response, but

1044
00:48:19.840 --> 00:48:21.239
it's just something that happened.

1045
00:48:21.400 --> 00:48:21.920
That's sad.

1046
00:48:22.360 --> 00:48:23.800
It was a busy week with a lot of things.

1047
00:48:23.840 --> 00:48:27.199
And then to end the week, Trump announced tariffs that

1048
00:48:27.280 --> 00:48:31.519
he's talked about during his campaign and he's making good

1049
00:48:31.559 --> 00:48:33.880
on his promise. He's gonna do twenty five percent on

1050
00:48:33.960 --> 00:48:37.880
Canada and Mexico and ten percent on duty from China.

1051
00:48:38.320 --> 00:48:39.880
And then, like we were saying, the first hour is

1052
00:48:39.920 --> 00:48:42.800
gonna be tariffs on Canadian oil as well. I'm sure

1053
00:48:42.800 --> 00:48:44.559
there's more terrorists to come. So the market had a

1054
00:48:44.559 --> 00:48:47.400
big sell off at the end of Friday to pretty

1055
00:48:47.480 --> 00:48:49.639
much put the markets into the right for the.

1056
00:48:49.559 --> 00:48:51.960
Week, and we did see a movement away from risk

1057
00:48:52.039 --> 00:48:56.239
ass that's Bitcoin dropped a few thousand dollars. The Nasdaq

1058
00:48:56.440 --> 00:49:00.519
was the leader to the downside, the equal I'm sorry,

1059
00:49:00.519 --> 00:49:03.960
the value ETFs where the Procter and Gambles of the

1060
00:49:03.960 --> 00:49:08.119
world did better than the NASDAC or the S and

1061
00:49:08.199 --> 00:49:12.039
P in January. January's historically a good month. We finished

1062
00:49:12.079 --> 00:49:15.400
up two point seven. That's good, right, Yeah. The market

1063
00:49:15.440 --> 00:49:17.519
is ritually valued, however, and I think we're going to

1064
00:49:17.599 --> 00:49:19.760
have a I think we're due for a five percent

1065
00:49:19.880 --> 00:49:21.559
or so pull back, and I think they're probably going

1066
00:49:21.639 --> 00:49:23.360
to happen in February with the big.

1067
00:49:23.239 --> 00:49:25.960
Drops too from the tech companies. It's like for the

1068
00:49:26.199 --> 00:49:29.519
chip companies especially, it's like those present buying opportunities. But

1069
00:49:29.559 --> 00:49:31.480
if you don't want to try and pick which one

1070
00:49:31.920 --> 00:49:34.159
hit the floor, if you don't think on video or

1071
00:49:34.280 --> 00:49:36.599
rock hom or something like that, there's always ETFs. And

1072
00:49:36.639 --> 00:49:39.360
you got one that's called Socks's SOXX that has a

1073
00:49:39.400 --> 00:49:41.599
lot of those chip companies in there. So if you're trying,

1074
00:49:41.639 --> 00:49:43.480
if you've been trying to get your feet wet in

1075
00:49:43.559 --> 00:49:45.960
the chip industry, but it's been hard because all I

1076
00:49:46.000 --> 00:49:47.719
do is go up. You don't know when the pullback

1077
00:49:47.719 --> 00:49:50.880
would come. Then starting a position in an ETF is

1078
00:49:50.920 --> 00:49:53.679
a good way to get familiar with it, with actual

1079
00:49:53.679 --> 00:49:54.440
skin in the game.

1080
00:49:54.679 --> 00:49:55.760
Those are always good ideas.

1081
00:49:55.920 --> 00:49:58.039
And if people are really trying to understand what's going

1082
00:49:58.079 --> 00:50:00.920
on with this deep seat, go to that CNB YouTube page.

1083
00:50:01.000 --> 00:50:04.679
On Friday last week, they released a video. It'll explain

1084
00:50:04.840 --> 00:50:07.840
exactly why the market reacted the way it did this

1085
00:50:07.920 --> 00:50:09.480
week perfectly, which.

1086
00:50:09.400 --> 00:50:11.559
Is great timing. You watched that last Friday and then

1087
00:50:11.599 --> 00:50:12.599
on Monday that happened.

1088
00:50:12.800 --> 00:50:15.079
Yeah, was on top of it. It was unbelievable.

1089
00:50:15.119 --> 00:50:15.480
They were.

1090
00:50:15.800 --> 00:50:19.840
Yeah, it's just in a nutshell. If you can get

1091
00:50:20.039 --> 00:50:25.320
accomplished AI with less expensive chips, then you don't need

1092
00:50:25.360 --> 00:50:27.840
in video. And if you don't need a video, then

1093
00:50:27.880 --> 00:50:30.159
you don't need the people to cool the video ships.

1094
00:50:30.599 --> 00:50:32.880
You don't need all the extra energy that the video

1095
00:50:32.920 --> 00:50:34.719
ships take. You don't need of this stuff.

1096
00:50:35.079 --> 00:50:37.760
Six hundred billion dollars wiped out in a day, largest

1097
00:50:37.800 --> 00:50:38.519
in history.

1098
00:50:38.559 --> 00:50:42.159
Six hundred billion dollars. That's me speaking of tech. Let's

1099
00:50:42.159 --> 00:50:47.400
talk thin air. Yeah, yeah, we're vanished into somebody's pocket

1100
00:50:48.119 --> 00:50:51.159
to a short Yeah, someone's pucket. Let's talk a little

1101
00:50:51.199 --> 00:50:55.480
bit about Apple. We last week we pointed out that

1102
00:50:55.519 --> 00:50:58.960
Apple was far and away the worst performing stock in

1103
00:50:59.000 --> 00:51:03.840
the Dow excuse me, for this year three times four

1104
00:51:03.880 --> 00:51:07.199
times as bad as any other stock. At the end

1105
00:51:07.199 --> 00:51:10.840
of last week and coming Monday, the stock's up five

1106
00:51:10.880 --> 00:51:13.079
points or what eight or nine points? Is up another

1107
00:51:13.119 --> 00:51:16.239
eight or nine points. Erniest came out on Thursday night,

1108
00:51:16.679 --> 00:51:19.679
and I thought was somebody knows what's going to be

1109
00:51:19.719 --> 00:51:24.079
reported here. When they actually did report, the report was

1110
00:51:24.320 --> 00:51:28.480
not as bad as some had feared. They're showing growth

1111
00:51:28.519 --> 00:51:33.039
in areas like India. They're showing strong growth in their

1112
00:51:33.119 --> 00:51:37.079
services sector, which is more than off setting their decline

1113
00:51:37.119 --> 00:51:41.199
in iPhone sales. And the stock rallied at the open

1114
00:51:41.679 --> 00:51:44.000
on Friday and then gave it all up and then

1115
00:51:44.039 --> 00:51:47.880
some and stock did finish the week up probably three

1116
00:51:47.960 --> 00:51:51.360
or four percent for the week. You have to continue

1117
00:51:51.360 --> 00:51:55.079
to ask yourself, though, what's the catalyst we talked about

1118
00:51:55.079 --> 00:51:57.840
this last week where they haven't come up with a

1119
00:51:57.840 --> 00:52:01.039
new product in quite a while, are reworking some of

1120
00:52:01.079 --> 00:52:03.519
their older products, you know, the newest iPhone, the newest

1121
00:52:03.559 --> 00:52:06.320
I watch, Apple Watch and I'm sorry I always call

1122
00:52:06.320 --> 00:52:10.599
it I Watch. Yeah, the vision pros gone, and nobody

1123
00:52:10.599 --> 00:52:12.960
seems to care. Apparently nobody wanted to sit around on

1124
00:52:13.000 --> 00:52:15.440
the couch with the goggles on and pretend they were

1125
00:52:15.480 --> 00:52:18.599
somewhere else. I don't know. It seemed like an odd

1126
00:52:18.639 --> 00:52:20.199
concept to me when I came out.

1127
00:52:20.320 --> 00:52:23.000
The catalyst is gonna be probably five years away, but

1128
00:52:23.079 --> 00:52:26.840
it's gonna be those same goggles. But then those glasses

1129
00:52:26.840 --> 00:52:27.960
you're wearing on your face right.

1130
00:52:27.880 --> 00:52:30.119
Now, regular eyeglasses.

1131
00:52:30.199 --> 00:52:34.360
Yeah, if you can do everything like that in your glasses,

1132
00:52:35.679 --> 00:52:36.480
you'll take.

1133
00:52:37.159 --> 00:52:39.559
Yeah, that's that's for younger people. I'm not interested in.

1134
00:52:39.719 --> 00:52:42.519
I don't want to have. It's like my car. I

1135
00:52:42.519 --> 00:52:45.440
don't want this speedometer and all that flashing on my windshields.

1136
00:52:45.559 --> 00:52:51.480
So like, imagine you're working, it says Stephanie's calling you.

1137
00:52:51.480 --> 00:52:55.159
You just say answer and you talk. No one can

1138
00:52:55.159 --> 00:52:56.440
hear your conversations in your air.

1139
00:52:56.599 --> 00:52:59.400
Yeah, no one hear my conversation now because everything my

1140
00:52:59.400 --> 00:53:04.360
hearing age. It drives my wife crazy. I'll be looking

1141
00:53:04.400 --> 00:53:05.760
at something on my phone laugh at my house.

1142
00:53:06.079 --> 00:53:07.800
Well that's the only thing I can see that's really

1143
00:53:07.800 --> 00:53:10.199
going to be a new technology that Apple can create.

1144
00:53:12.039 --> 00:53:15.000
Other than that, the ecosystem seems so built out.

1145
00:53:15.159 --> 00:53:18.559
It does it does? I think that you probably have

1146
00:53:18.679 --> 00:53:21.119
some upside if they can get this Apple Intelligence up

1147
00:53:21.159 --> 00:53:24.159
to speed. I think that's possibly a catalyst.

1148
00:53:24.599 --> 00:53:28.440
Yeah, but I just how are people going to use it?

1149
00:53:28.920 --> 00:53:32.039
Yeah? Yeah, no, I got to see it. It's got

1150
00:53:32.079 --> 00:53:34.920
to be useful. It's like the vision pro, like the goggles.

1151
00:53:34.920 --> 00:53:36.639
You know, people have to want it.

1152
00:53:36.840 --> 00:53:39.239
Yeah, I mean even when I you know, I love

1153
00:53:39.360 --> 00:53:41.199
chat GBT. I use it for a lot of things.

1154
00:53:41.719 --> 00:53:45.199
But I'm a very early adopter. I'm not someone the

1155
00:53:45.199 --> 00:53:47.360
most people aren't using it the way I'm using it.

1156
00:53:47.360 --> 00:53:50.199
It will take five or ten years for the masses

1157
00:53:50.239 --> 00:53:51.920
to use that. So that's what I think about AI

1158
00:53:52.360 --> 00:53:54.679
with the Apple. Even if they get the AI involved,

1159
00:53:54.920 --> 00:53:56.840
most people won't even know what to do with it.

1160
00:53:57.159 --> 00:53:58.559
They're just gonna be like, oh, this is cool. But

1161
00:53:58.880 --> 00:54:01.079
I don't know unless it's very easy to use.

1162
00:54:01.800 --> 00:54:04.480
I write a monthly update that we send out to

1163
00:54:04.559 --> 00:54:06.719
clients and post on our website. You can you can

1164
00:54:06.760 --> 00:54:08.719
see it by going to Greenberg Financial dot com and

1165
00:54:09.079 --> 00:54:11.199
one of the it's it's right there. We do too,

1166
00:54:11.400 --> 00:54:13.920
me and Dylan. Yeah, you read all of our articles.

1167
00:54:14.159 --> 00:54:17.800
Oh well no, the whole newsletter is posted there, right.

1168
00:54:17.960 --> 00:54:19.960
I know, we all do articles. Do you do your

1169
00:54:19.960 --> 00:54:22.440
own article? Todd doesn't talking.

1170
00:54:22.239 --> 00:54:24.840
About I'm just I'm making a point here. I'm not

1171
00:54:25.079 --> 00:54:28.480
I'm not. I'm not dissing you guys. Okay, I love

1172
00:54:28.480 --> 00:54:30.639
you guys. You're very talented. Okay, but I write this

1173
00:54:30.679 --> 00:54:33.920
newsletter about the market. And and Todd came in today

1174
00:54:33.920 --> 00:54:36.119
to help me, help me out on Friday, I'm sorry,

1175
00:54:36.280 --> 00:54:38.039
and helped me out, and he was gonna drop it

1176
00:54:38.039 --> 00:54:41.159
into chat gd g P D see whatever.

1177
00:54:40.880 --> 00:54:47.199
It is GDP gross domestic Product GDP no, g g

1178
00:54:47.320 --> 00:54:50.880
P T right g P t right dropped in there

1179
00:54:51.119 --> 00:54:53.480
and the it reworked how much things And I'm looking

1180
00:54:53.519 --> 00:54:55.400
at it, going, you really think you're fine of me,

1181
00:54:55.440 --> 00:54:55.880
don't you.

1182
00:54:56.719 --> 00:54:59.920
I actually resented a little bit, actually presented it a little

1183
00:55:01.119 --> 00:55:02.719
I'm looking at it going, no, that's not the way

1184
00:55:02.719 --> 00:55:07.239
you shay, and it's you know, I'm sorry, but I'm

1185
00:55:07.239 --> 00:55:09.280
going to do it this way. Yeah. But it's an

1186
00:55:09.320 --> 00:55:11.519
interesting technology. And some of the things you were showing

1187
00:55:11.519 --> 00:55:14.400
me last week about some of the videos and things.

1188
00:55:14.119 --> 00:55:15.880
Well that's what I was about to say, Like we

1189
00:55:15.880 --> 00:55:18.000
were playing around with some videos that we could generate

1190
00:55:18.320 --> 00:55:21.960
just make you know, through artificial intelligence, and that's all

1191
00:55:22.000 --> 00:55:24.199
I could see the average consumer doing with it, Like

1192
00:55:24.320 --> 00:55:25.719
they're not going to be productive, all right.

1193
00:55:25.719 --> 00:55:27.800
And that's why I think it's so bullish about meta.

1194
00:55:27.880 --> 00:55:30.199
You know, you're you're on your Facebook and you're like,

1195
00:55:30.400 --> 00:55:33.360
make a video of the Chiefs beating the Eagles in

1196
00:55:33.400 --> 00:55:36.280
the super Bowl, you know, and it's AI generated.

1197
00:55:36.480 --> 00:55:39.199
But I mean it's chilly stuff too. But it will

1198
00:55:39.239 --> 00:55:41.679
not allow you to use anyone's face.

1199
00:55:41.480 --> 00:55:44.119
And that no, it doesn't let me do that. Yeah,

1200
00:55:44.119 --> 00:55:48.280
it says your your account isn't approved for using faces.

1201
00:55:48.360 --> 00:55:50.719
So you did create a video of Dave dancing in

1202
00:55:50.760 --> 00:55:52.519
the tesla and it actually similar to you.

1203
00:55:52.599 --> 00:55:55.519
Yeah, but I had to how to describe your features?

1204
00:55:55.800 --> 00:55:57.639
That was a song. I couldn't even see the video.

1205
00:55:58.559 --> 00:56:00.800
Yeah, I just white hair like you.

1206
00:56:01.079 --> 00:56:04.159
Yeah, I created I'll show you after the show.

1207
00:56:04.599 --> 00:56:07.639
A guy with politician hair dancing on his tesla. I

1208
00:56:07.679 --> 00:56:11.960
just said, white hair, politician hair. No, no, at least

1209
00:56:11.960 --> 00:56:14.039
once a week out, here's some busy you should run

1210
00:56:14.039 --> 00:56:16.679
for office, yeah, politician hair.

1211
00:56:16.880 --> 00:56:19.239
But yeah, it's that it's the silly things for sure.

1212
00:56:19.280 --> 00:56:24.079
That probably, Yeah, I might be a little young. Y

1213
00:56:25.760 --> 00:56:28.280
might be a little young. Everybody run into big big

1214
00:56:28.320 --> 00:56:30.559
deal like Buffett and Trump and all that all ldered

1215
00:56:30.599 --> 00:56:33.880
me but also talking about how human individuals are going

1216
00:56:33.960 --> 00:56:36.559
to use AI? How are companies going to use AI?

1217
00:56:36.599 --> 00:56:38.880
And I saw an interesting chart. Obviously a lot of

1218
00:56:38.880 --> 00:56:43.360
companies are trying to incorporate AI. According to this chart,

1219
00:56:43.519 --> 00:56:48.599
financial and insurance firms, only ten percent are scheduled to

1220
00:56:48.639 --> 00:56:52.159
try to incorporate AI in some way into their their practices.

1221
00:56:52.199 --> 00:56:55.800
Five percent had already had AI incorporated, another five percent,

1222
00:56:56.079 --> 00:56:58.320
so now it'd be up to ten percent. The biggest

1223
00:56:58.840 --> 00:57:02.840
sector is that that is increasing their AI usage, of course,

1224
00:57:02.920 --> 00:57:04.159
is technology sector.

1225
00:57:04.840 --> 00:57:07.159
The insurance Department's getting hold of it kind of scares me.

1226
00:57:07.280 --> 00:57:09.719
It feels like it's an easier way to discriminate against,

1227
00:57:09.800 --> 00:57:11.360
like who you're going to give the premiums.

1228
00:57:11.760 --> 00:57:13.800
It's it wouldn't be a way to discriminate. It's a

1229
00:57:13.800 --> 00:57:16.000
way to enhance their risk management problem.

1230
00:57:16.119 --> 00:57:16.440
For sure.

1231
00:57:16.719 --> 00:57:19.119
They've got a secret They got a secret database somewhere

1232
00:57:19.159 --> 00:57:21.960
that they all have access to. When I backed my

1233
00:57:22.159 --> 00:57:22.800
Tesla end of.

1234
00:57:22.800 --> 00:57:24.119
The Wall, everybody knew.

1235
00:57:24.320 --> 00:57:27.679
Everybody knew. My premium went from nineteen hundred to twenty

1236
00:57:27.880 --> 00:57:30.480
to forty one. They do share it for me, and

1237
00:57:30.639 --> 00:57:33.559
so I said, let's shop it. He goes. Can't they

1238
00:57:33.599 --> 00:57:39.639
know everybody knows, Dylan, everybody knows.

1239
00:57:40.039 --> 00:57:43.039
Yeah, and well, one of the interesting uh we heard

1240
00:57:43.079 --> 00:57:47.159
there's a new AI development coming that will allow financial

1241
00:57:47.199 --> 00:57:51.480
advisors to know everything about public transactions that occur with

1242
00:57:51.679 --> 00:57:53.880
their clients or even proSP clients.

1243
00:57:53.920 --> 00:57:56.360
So like your client just sold a boat out and

1244
00:57:56.679 --> 00:57:59.239
wherever he is, you can know about that instantly.

1245
00:57:59.400 --> 00:58:02.719
That's because it's it's technically a public transaction.

1246
00:58:03.079 --> 00:58:07.239
This the company is just let you know. But it's

1247
00:58:07.280 --> 00:58:09.000
not like they go to private records.

1248
00:58:09.039 --> 00:58:11.360
Like imagine you had someone that parsed through all the

1249
00:58:11.800 --> 00:58:15.239
data that is kept on every single county's assessor's office

1250
00:58:15.519 --> 00:58:17.920
in the country. No one could do that, but an

1251
00:58:17.960 --> 00:58:20.840
AI could. That's what That's what it's saying.

1252
00:58:20.920 --> 00:58:22.519
But it's it's kind of like that. That kind of

1253
00:58:22.519 --> 00:58:24.599
reminds me of these creeps out there that watch the

1254
00:58:24.880 --> 00:58:27.159
obituation and then go pray on the widow.

1255
00:58:27.719 --> 00:58:29.719
Yeah, yeah, a little bit. I guess man.

1256
00:58:29.760 --> 00:58:34.320
That's just like seems right to me. You know, you

1257
00:58:34.400 --> 00:58:36.679
see the husband died and you go in to see

1258
00:58:36.679 --> 00:58:39.039
if they ever survived by and it gives his wife's

1259
00:58:39.079 --> 00:58:41.599
name and find her and let's go talk.

1260
00:58:42.719 --> 00:58:43.599
Never heard of that.

1261
00:58:43.639 --> 00:58:44.280
That's horrible.

1262
00:58:44.440 --> 00:58:46.599
You've heard of it now, it's not uncommon.

1263
00:58:46.679 --> 00:58:49.280
Well, you know that brings up a good point about scams.

1264
00:58:50.280 --> 00:58:53.840
We we had one client that was scammed this week,

1265
00:58:53.920 --> 00:58:57.039
and you got to be very careful with the paypower

1266
00:58:57.199 --> 00:59:01.039
venmo or Zelle scams. You'll see him all the Amazon's

1267
00:59:01.239 --> 00:59:04.599
coming you have this bill due. Don't click on links

1268
00:59:04.639 --> 00:59:06.199
if you don't know what's coming from.

1269
00:59:06.559 --> 00:59:07.480
Don't click on links.

1270
00:59:07.519 --> 00:59:10.119
Don't answer calls from numbers you don't know. If they

1271
00:59:10.199 --> 00:59:11.920
are needing to get ahold of you, they'll leave you

1272
00:59:11.920 --> 00:59:14.159
a voicemail and look at the Make sure your voicemail

1273
00:59:14.159 --> 00:59:17.079
box is empty or at least can accept voicemails it's

1274
00:59:17.119 --> 00:59:17.480
not full.

1275
00:59:17.599 --> 00:59:19.920
And if you get an email that's a little suspicious,

1276
00:59:19.960 --> 00:59:22.320
look at the returning address if it makes no sense. Yes,

1277
00:59:23.199 --> 00:59:25.800
the biggest way, that's the biggest way to tell. Just

1278
00:59:25.840 --> 00:59:28.559
look at that recurring dress. If it looks chilly, I

1279
00:59:28.719 --> 00:59:30.159
just just delete it. OK.

1280
00:59:30.400 --> 00:59:33.199
For this For this person's case, they got sent a

1281
00:59:33.280 --> 00:59:35.159
link and they clicked on it. They got connected to

1282
00:59:35.199 --> 00:59:37.960
a phone call and they had to act immediately. If

1283
00:59:38.000 --> 00:59:40.639
you are ever asked to act immediately, just stop it,

1284
00:59:40.960 --> 00:59:41.599
hang up the phone.

1285
00:59:41.760 --> 00:59:44.039
All many times you've been on the computer. Nothing maybe

1286
00:59:44.039 --> 00:59:46.199
you guys never but you're on the computer and all

1287
00:59:46.199 --> 00:59:48.360
of a sudden the alarm starts going off. Right, Yes,

1288
00:59:49.880 --> 00:59:51.880
I don't even know what makes that happen. I've never

1289
00:59:51.960 --> 00:59:53.639
had to my wife that had happened in a number

1290
00:59:53.639 --> 00:59:56.000
of times. I think you're clicking on something, probably, but

1291
00:59:56.039 --> 00:59:58.079
the alarm starts going off. You're a computer has been

1292
00:59:58.119 --> 01:00:00.679
in factor. You have to call this number away, you know,

1293
01:00:01.199 --> 01:00:04.199
And this this klient of ours did and and they

1294
01:00:04.199 --> 01:00:08.000
got her life savings. Everything that was not with Greenberg

1295
01:00:08.079 --> 01:00:14.719
Financial was gone in a matter of hours. Terrifying, horrible,

1296
01:00:14.760 --> 01:00:17.920
horrible people out there, horrible people. Hey, how about IBM?

1297
01:00:17.960 --> 01:00:20.519
We talked about IBM last week, Dylan, you mentioned is

1298
01:00:20.840 --> 01:00:22.800
it is it going to be like IBM? We're just

1299
01:00:22.880 --> 01:00:26.440
kind of goes to sleep, right? IBM up twenty five

1300
01:00:26.480 --> 01:00:30.360
percent IBM in the last twelve months. Another ten percent

1301
01:00:30.360 --> 01:00:34.079
at the open on Thursday, new all time high, all

1302
01:00:34.119 --> 01:00:35.679
time high IBM.

1303
01:00:35.800 --> 01:00:38.880
Remember remember Dave, you always ask me, what why don't

1304
01:00:38.880 --> 01:00:42.320
you guys take your profits? Yeah, we took our profits

1305
01:00:42.360 --> 01:00:42.760
on that one.

1306
01:00:42.840 --> 01:00:44.639
Yeah. Yeah? Is that IBM?

1307
01:00:44.760 --> 01:00:45.920
Yeah?

1308
01:00:46.159 --> 01:00:46.480
Out of it?

1309
01:00:49.480 --> 01:00:52.199
Yeah, twelve you got twelve?

1310
01:00:53.000 --> 01:00:55.320
Yeah, I think we have twenty five thirty percent on it.

1311
01:00:55.360 --> 01:00:57.000
You know, all time high you get out.

1312
01:00:56.840 --> 01:00:58.960
Of it take I'm guessing one thing you're not going

1313
01:00:59.039 --> 01:01:02.199
to ever be is the best day in twenty years.

1314
01:01:03.440 --> 01:01:06.639
I'm gonna hold for the best day in twenty years.

1315
01:01:06.639 --> 01:01:07.760
Oh you didn't know that was coming?

1316
01:01:08.480 --> 01:01:09.679
What is the matter with you?

1317
01:01:09.760 --> 01:01:11.960
Somebody that had a good week this week? Starbucks? I mean,

1318
01:01:12.039 --> 01:01:13.960
and they had horrible earnings.

1319
01:01:13.960 --> 01:01:18.400
That didn't make a lot of sense. Guidance the stars helped.

1320
01:01:18.639 --> 01:01:20.920
Brian Nichols must be really good at talking about guidance.

1321
01:01:20.960 --> 01:01:22.480
Well, the way that he was talking about I did

1322
01:01:22.519 --> 01:01:24.119
listen to a little snippet. He thinks that they're going

1323
01:01:24.199 --> 01:01:26.800
to double the stores in America. I mean, they didn't

1324
01:01:26.800 --> 01:01:28.760
give a time frame or anything like that, but that's

1325
01:01:28.760 --> 01:01:31.920
his goal is to double the amount of stores in America.

1326
01:01:32.079 --> 01:01:35.079
Why not so many?

1327
01:01:36.239 --> 01:01:38.360
His goal also is to bring it back to being

1328
01:01:38.400 --> 01:01:40.840
a more sit down and do homework, do work there

1329
01:01:41.119 --> 01:01:44.000
rather than a Dutch Bros. Where Starbucks was going towards that,

1330
01:01:44.280 --> 01:01:45.960
where's drive thro will only get in get out as

1331
01:01:46.000 --> 01:01:48.119
quick as possible, and he wants to bring it back

1332
01:01:48.119 --> 01:01:49.880
to sit down and hang out, which could lead to

1333
01:01:49.960 --> 01:01:52.599
more sales because they're sitting there. You're gonna have two coffees,

1334
01:01:52.639 --> 01:01:54.920
you're gonna have an hour, and you're gonna be like, Okay,

1335
01:01:54.920 --> 01:01:56.840
I'm hungry. I'm gonna get a food piece of food

1336
01:01:56.840 --> 01:01:59.960
from Starbucks. So that could lead to more revenue.

1337
01:02:00.159 --> 01:02:02.960
This is a young guy, I think fifty fifty two

1338
01:02:03.039 --> 01:02:05.519
or something like that. He he was the CEO of

1339
01:02:05.519 --> 01:02:09.719
of Taco Bell, No Taco Bell for six years and

1340
01:02:10.639 --> 01:02:13.239
was rock star there got hired away by Chipotle.

1341
01:02:13.440 --> 01:02:14.639
Oh I didn't know that either.

1342
01:02:14.719 --> 01:02:16.880
Oh yeah yeah, and they became the CEO of Chipotle

1343
01:02:16.920 --> 01:02:19.480
and that was that was all the rage everybody wanted

1344
01:02:19.519 --> 01:02:22.320
in on Chipotle, and then Starbucks got him. Now what

1345
01:02:22.400 --> 01:02:24.760
he's doing this is brilliant. What he's doing is he's

1346
01:02:24.760 --> 01:02:28.400
going back and he's poaching people from Taco Bell and

1347
01:02:28.480 --> 01:02:32.559
from Chipotle, people that he knows are really good people

1348
01:02:33.719 --> 01:02:37.280
he's taking. He's taking them from Taco Bell and from Chipotle.

1349
01:02:38.000 --> 01:02:40.960
And they were four to quarter of results to beat expectations,

1350
01:02:40.960 --> 01:02:44.840
although Same Stars did decline for a fourth consecutive quarter.

1351
01:02:46.920 --> 01:02:49.760
I think the I think the guy. If you're buying

1352
01:02:49.800 --> 01:02:52.079
Starbucks here, you're you're buying Brian Nichols.

1353
01:02:52.480 --> 01:02:54.320
You're giving him the benefit of the doubt right now

1354
01:02:54.400 --> 01:02:57.480
that he's settled in and getting his vision enacted.

1355
01:02:57.800 --> 01:03:01.039
Yes, And you're probably seeing the commercials now the Starbucks

1356
01:03:01.079 --> 01:03:04.679
coffee company. That's a lot of classy, isn't it. The Starbucks?

1357
01:03:04.800 --> 01:03:07.920
The Starbucks coffee company. And you gave him all that,

1358
01:03:08.039 --> 01:03:10.400
You give him a lot of grief about his sharpie idea,

1359
01:03:10.440 --> 01:03:13.199
the shoppy idea now and the commercials are showing writing

1360
01:03:13.199 --> 01:03:15.719
little notes to the clients on and I don't think

1361
01:03:15.719 --> 01:03:17.360
it's our phone number, all right.

1362
01:03:18.559 --> 01:03:20.440
Yeah, I mean it will be some places.

1363
01:03:21.119 --> 01:03:23.480
Probably people will do that. Probably it's happening.

1364
01:03:23.480 --> 01:03:23.599
Though.

1365
01:03:23.840 --> 01:03:26.880
One of our clients had their name written on it

1366
01:03:26.960 --> 01:03:28.559
on the Starbucks.

1367
01:03:28.199 --> 01:03:30.119
Name smiley face, have a good day.

1368
01:03:30.920 --> 01:03:31.880
Oh how cute?

1369
01:03:32.119 --> 01:03:35.880
You know, I don't know. Personal touch the person ability

1370
01:03:36.199 --> 01:03:36.599
a long way.

1371
01:03:36.639 --> 01:03:38.679
It doesn't like it makes it I mean it's small,

1372
01:03:38.719 --> 01:03:40.360
but it also makes it feel like it's not so

1373
01:03:40.559 --> 01:03:44.400
cold anymore. Like my problem is starting modern and sharp

1374
01:03:44.440 --> 01:03:46.039
and cold brick and mortar before.

1375
01:03:46.079 --> 01:03:47.360
Your problem with Starbucks is.

1376
01:03:47.360 --> 01:03:50.400
A warm environment where you want to go be cozy.

1377
01:03:50.760 --> 01:03:53.840
The problem is the brick and mortar. You're gonna double stores,

1378
01:03:53.920 --> 01:03:56.519
You're got your doubling the square footage you have to

1379
01:03:56.519 --> 01:03:56.880
pay for.

1380
01:03:57.639 --> 01:03:59.639
I think this, I think if we don't see this,

1381
01:03:59.679 --> 01:04:02.039
style could a new all time high this year. I'll

1382
01:04:02.039 --> 01:04:04.679
be surprised. And I knew all the time high is

1383
01:04:04.719 --> 01:04:07.719
that far way seven or one eight on Friday from

1384
01:04:07.760 --> 01:04:09.480
the all time highs one twenty five.

1385
01:04:09.719 --> 01:04:12.679
From the call. Brian Nickel inspired campaign aims to fix

1386
01:04:12.760 --> 01:04:16.800
crippling throughout issues, reducing menuclutter, revamped a food offering with

1387
01:04:16.880 --> 01:04:22.119
actual testing, improve in store customer experience with Sharpie's focus

1388
01:04:22.159 --> 01:04:24.519
on serving consistently great coffee. This quarter of the main

1389
01:04:24.559 --> 01:04:27.880
margin headwinds stemming from this were because of marketing activity,

1390
01:04:27.920 --> 01:04:30.280
which we've seen a lot more commercials of. And at

1391
01:04:30.280 --> 01:04:33.039
the same time, their margins got destroyed with a non

1392
01:04:33.119 --> 01:04:36.239
dairy you know how they stopped charging charging for people

1393
01:04:36.280 --> 01:04:38.159
if they want oat milk or if they want almond milk,

1394
01:04:38.280 --> 01:04:41.000
that's tapped into their margins and he's looking to destroy

1395
01:04:41.079 --> 01:04:43.199
those or you know, then those down later on.

1396
01:04:43.360 --> 01:04:45.159
Yeah, I'd feel better if he wasn't working from home.

1397
01:04:45.159 --> 01:04:48.960
But you know he's got a free jet every time people.

1398
01:04:49.199 --> 01:04:52.719
People forget that people love Dutch pros. Okay, there's a

1399
01:04:52.760 --> 01:04:55.599
lot of other coffee companies too that people like going to.

1400
01:04:56.559 --> 01:04:58.320
Just because you double stores doesn't mean you're gonna get

1401
01:04:58.360 --> 01:04:59.840
double customers.

1402
01:04:59.440 --> 01:05:01.960
Right, But if you you drive by a Starbucks, you

1403
01:05:02.320 --> 01:05:05.800
very rarely will you see the same thing about Dutch Bros. Though,

1404
01:05:05.960 --> 01:05:07.480
same thing about Touch Bros.

1405
01:05:07.760 --> 01:05:08.480
Very popular.

1406
01:05:08.719 --> 01:05:11.639
Yeah, no, I understand that when I drive by Dutch Bros.

1407
01:05:11.679 --> 01:05:13.559
It's never less than four cars.

1408
01:05:14.199 --> 01:05:16.840
I've not had that same experience. But anyway, Dust Bros.

1409
01:05:16.960 --> 01:05:18.440
Is a little more niche though in the sense of

1410
01:05:18.480 --> 01:05:24.119
like they got more like sweets. It's more caffeine, more caffeine,

1411
01:05:24.119 --> 01:05:27.360
more sweetters. They're very high calorie drinks and food and stuff.

1412
01:05:27.639 --> 01:05:29.920
Starbucks just has the regular coffee. It's not as much

1413
01:05:30.000 --> 01:05:32.920
like that as Dutch Bros. Is more unique. I like

1414
01:05:33.000 --> 01:05:35.719
Dutch Bros. Though, but I do go to Starbucks too.

1415
01:05:36.039 --> 01:05:38.519
From someone who never developed a taste for coffee, I'll

1416
01:05:38.599 --> 01:05:40.119
have to defer to you, guys.

1417
01:05:40.719 --> 01:05:43.000
I don't drink I drink mushroom coffee.

1418
01:05:43.119 --> 01:05:45.559
You drink what mushroom coffee? Mushroom coffee?

1419
01:05:45.639 --> 01:05:47.119
Yeah, shout out the rise.

1420
01:05:49.000 --> 01:05:56.000
Okay, Walgrains we doesn't go by that. We don't talk

1421
01:05:56.039 --> 01:05:58.800
about Walgreens, right either, they've got somebody that wants to

1422
01:05:58.800 --> 01:06:01.440
take them over, or we've got the Department of Justice

1423
01:06:01.519 --> 01:06:06.880
gonna sue them. They fell twelve percent on Thursday after

1424
01:06:06.920 --> 01:06:10.000
they said they're going to suspend their cash dividend. Now,

1425
01:06:10.719 --> 01:06:12.880
Walgreen said in the press release it's in the midst

1426
01:06:12.880 --> 01:06:15.960
of long term turnaround. Is aiming to strengthen his balance

1427
01:06:15.960 --> 01:06:19.599
sheet by reducing debt and improving cash flow. Okay, if

1428
01:06:19.599 --> 01:06:25.239
you're a company that's struggling to reinvent yourself, why are

1429
01:06:25.280 --> 01:06:27.960
you paying a dividend at all? And that they would

1430
01:06:28.000 --> 01:06:32.920
suspend the dividend to me not only is brilliant, but generally,

1431
01:06:33.039 --> 01:06:36.960
I say, generally with the capital g generally that's the bottom.

1432
01:06:37.920 --> 01:06:40.639
When when they it's gotten so bad, we're gonna have

1433
01:06:40.639 --> 01:06:44.559
to suspend the dividend that is often assigned to the bottom.

1434
01:06:44.599 --> 01:06:47.239
Not suggesting you buy Walgreen stock, because it just seems

1435
01:06:47.320 --> 01:06:49.480
like the company can't get out of its own where

1436
01:06:49.559 --> 01:06:52.119
is it going to go? Yeah, you can't get out

1437
01:06:52.159 --> 01:06:55.400
of his own way, So I don't know. I think Dylan,

1438
01:06:55.400 --> 01:06:59.519
you talked about Germany right were last week, I think

1439
01:06:59.519 --> 01:07:02.159
you were Europe and you said Germany's economy was really

1440
01:07:02.199 --> 01:07:03.760
in the toilet things.

1441
01:07:04.000 --> 01:07:05.199
Probably may not say that.

1442
01:07:05.599 --> 01:07:06.920
Probably, man, it sounds.

1443
01:07:06.800 --> 01:07:08.360
Like something Todd would say, I would say it.

1444
01:07:08.760 --> 01:07:13.199
German government on Wednesday slashed this gross domestic product forecast

1445
01:07:13.239 --> 01:07:16.960
two point three percent. That's the growth that they're projecting

1446
01:07:17.000 --> 01:07:21.360
in twenty twenty five. They're ahead of economy and climate

1447
01:07:21.440 --> 01:07:28.440
said they diagnosis is serious. Germany is stuck in stagflation. Stagflation,

1448
01:07:28.519 --> 01:07:31.320
of course, is inflation with no growth. It's the worst

1449
01:07:31.360 --> 01:07:36.840
economic condition that you can find that's not abnormal for Europe.

1450
01:07:36.880 --> 01:07:39.159
And one of the reasons that how many years ago

1451
01:07:39.239 --> 01:07:41.639
we got out of all of our European stocks? Yeah,

1452
01:07:41.679 --> 01:07:43.360
two or three now, yeah, it's been two or three

1453
01:07:43.400 --> 01:07:43.760
years ago.

1454
01:07:44.000 --> 01:07:47.280
Although again the reason German, the German country is and

1455
01:07:47.360 --> 01:07:50.400
where they are is because of socialism. Yes, they wanted

1456
01:07:50.480 --> 01:07:53.679
to be part of the EU. The EU started bring

1457
01:07:53.679 --> 01:07:56.519
God out and now they're the only semi decent country

1458
01:07:56.559 --> 01:07:58.039
in the EU that has to pay for all the

1459
01:07:58.079 --> 01:08:02.800
other semi performing countries. Not only that, their entire industrial

1460
01:08:04.559 --> 01:08:08.079
manufacturing economy has just gotten glutted because of this and

1461
01:08:08.400 --> 01:08:11.800
people finding cheaper labor outside in other countries. Same thing

1462
01:08:11.840 --> 01:08:14.239
that kind of happens to the US. So Yeah, that

1463
01:08:14.320 --> 01:08:17.159
country just doesn't have the worlds of currency like we do,

1464
01:08:17.239 --> 01:08:18.760
and so they're not going to be able to really

1465
01:08:18.800 --> 01:08:21.319
develop the inflation that they need to keep their economy going.

1466
01:08:21.399 --> 01:08:23.319
So I don't I don't see really good things happening.

1467
01:08:23.319 --> 01:08:23.640
For the year.

1468
01:08:23.720 --> 01:08:26.800
We see the euro almost at parody with the dollar. Yes,

1469
01:08:27.119 --> 01:08:28.319
that's largely because of it.

1470
01:08:28.960 --> 01:08:31.399
Yeah, it's it's it's fad to see. I mean, Germany

1471
01:08:31.439 --> 01:08:33.720
for years was an industrial giant, and.

1472
01:08:34.600 --> 01:08:36.199
I'm going to Germany this year, so I'll let you

1473
01:08:36.239 --> 01:08:37.560
are how they're how they're doing.

1474
01:08:37.840 --> 01:08:41.000
You are and for a while with Greece and Italy

1475
01:08:41.159 --> 01:08:46.560
struggling mindily with their economies, not paying taxes in those

1476
01:08:46.600 --> 01:08:49.800
two places as an art, so that's it's not surprising

1477
01:08:49.880 --> 01:08:55.800
that they're struggling. A lot of people moving from Italy

1478
01:08:55.920 --> 01:08:58.760
and Greece, a lot of talent moving from Greece to Germany.

1479
01:08:58.760 --> 01:09:02.199
So I don't know, Yeah, it's kind of I don't

1480
01:09:02.199 --> 01:09:06.199
know where it went wrong, right, but but Germany is

1481
01:09:06.279 --> 01:09:09.039
in trouble and and all of Europe is lagging far

1482
01:09:09.079 --> 01:09:10.159
behind the United States.

1483
01:09:10.199 --> 01:09:13.119
And if you have a the situation got exacerbated when

1484
01:09:13.119 --> 01:09:16.960
the when Britain left, Yes, and yes, that was they

1485
01:09:16.960 --> 01:09:20.039
were the other good country and the U helping and

1486
01:09:20.079 --> 01:09:23.119
now the burden was just left on Germany.

1487
01:09:23.199 --> 01:09:25.199
Soil kind I was talking about earlier that had the

1488
01:09:25.359 --> 01:09:27.760
large Ira and never did a roth conversion during two

1489
01:09:27.800 --> 01:09:29.880
years of an Nella income also as twenty five percent

1490
01:09:29.880 --> 01:09:33.680
of his portfolio in Europe. So yeah, it's clific. He

1491
01:09:33.720 --> 01:09:35.359
showed up here when he did well.

1492
01:09:35.359 --> 01:09:37.359
Hey, when we're coming up on the end of this segment,

1493
01:09:37.399 --> 01:09:40.199
I just want to shout out the Tucson Jewish Museum

1494
01:09:40.239 --> 01:09:43.159
a Holocaust Center. It's an organization I serve on the

1495
01:09:43.159 --> 01:09:45.680
board for and they're close to my heart. They talk

1496
01:09:45.760 --> 01:09:49.760
about they have actually the oldest synagogue in the Arizona

1497
01:09:49.880 --> 01:09:54.039
territory that was first formed, and then also the Holocaust Center,

1498
01:09:54.079 --> 01:09:56.760
which talks about the genocides.

1499
01:09:56.199 --> 01:09:56.680
Of the world.

1500
01:09:56.960 --> 01:09:59.640
How easily societies can fall into it. It's not just

1501
01:09:59.680 --> 01:10:02.840
about the color of your skin, it's about it's tribalism,

1502
01:10:02.880 --> 01:10:07.520
it's classifying individuals as others. At the end of the day,

1503
01:10:07.520 --> 01:10:11.000
we're all humans, and so the worst thing a society

1504
01:10:11.039 --> 01:10:14.600
can fall into is a genocidal act. And it doesn't

1505
01:10:14.640 --> 01:10:18.399
matter what rhyme or reason, it's for killing humans. Is

1506
01:10:18.439 --> 01:10:22.199
never something that should be brought into human civilization, so

1507
01:10:22.680 --> 01:10:26.279
teaching the kids about how easy societies have fallen into

1508
01:10:26.319 --> 01:10:28.119
it in the past is very important to us. We

1509
01:10:28.239 --> 01:10:30.239
educate people. If you want to go check this out,

1510
01:10:30.279 --> 01:10:32.399
it's one of the best kept secrets in Tucson. You

1511
01:10:32.439 --> 01:10:35.560
can go Wednesday through Sunday one pm to five pm.

1512
01:10:35.640 --> 01:10:39.920
And also, we're having our annual gala coming up in

1513
01:10:40.000 --> 01:10:44.840
April sorry March area. That will be at the Tucson

1514
01:10:44.880 --> 01:10:46.920
Opera House. So if you want information, you can email

1515
01:10:46.960 --> 01:10:49.479
me at Todd at Greenberg Financial dot com or go

1516
01:10:49.520 --> 01:10:52.439
to the Tucson Jewish Museum a Holocaust Center website. You

1517
01:10:52.479 --> 01:10:55.800
can find tickets information about it there. The Greenberg Financial

1518
01:10:55.800 --> 01:10:58.920
team will be there as well, celebrating that night, and

1519
01:10:58.960 --> 01:11:02.000
so we're looking forward to see some of you people there.

1520
01:11:02.199 --> 01:11:05.159
Located it's downtown the Tucson Opera House.

1521
01:11:05.000 --> 01:11:07.319
So that's where the festivity is, yes.

1522
01:11:07.119 --> 01:11:10.079
But oh, the jushow On Jewish Museum Holocaust Center is

1523
01:11:10.079 --> 01:11:13.039
located at six and Stone sixth in Stone Downtown.

1524
01:11:13.319 --> 01:11:16.880
Fantastic, fantastic, good people doing good work. Love it, Love it.

1525
01:11:17.680 --> 01:11:20.680
Tesla doubled in the last six weeks following the election

1526
01:11:20.960 --> 01:11:23.880
in the six weeks following the election, down twenty percent

1527
01:11:23.960 --> 01:11:26.680
from that high. On Wednesday, they reported they missed sales

1528
01:11:26.680 --> 01:11:29.399
and earnings for the most recent quarter, and the stock

1529
01:11:29.520 --> 01:11:30.399
rallied four percent.

1530
01:11:30.479 --> 01:11:32.680
Yeah, but then it fill and then it fell again

1531
01:11:32.720 --> 01:11:34.680
on Friday. Did it finish up on Friday?

1532
01:11:34.800 --> 01:11:37.319
I think you finished probably finished down a percent or

1533
01:11:37.319 --> 01:11:39.199
two on the week. But it's just we continue to

1534
01:11:39.199 --> 01:11:40.840
be puzzled by why that.

1535
01:11:41.039 --> 01:11:42.640
I didn't even look at the earning support. I just

1536
01:11:42.640 --> 01:11:43.439
like looking at the chart.

1537
01:11:43.680 --> 01:11:48.479
Yeah. Anyway, we'll be back with the next segment of

1538
01:11:48.520 --> 01:11:50.800
The Moneymatter Show again. Thanks again for joining us. We

1539
01:11:50.840 --> 01:11:51.520
appreciate it.

1540
01:11:53.720 --> 01:11:55.720
Welcome back to The Money Matter Show. My name is

1541
01:11:55.760 --> 01:11:58.640
Todd Lick. I'm here with Dylan Greenberg, David Sherwood, and

1542
01:11:58.680 --> 01:12:02.439
Sebastian Borsini. Go ahead and go to our Facebook page.

1543
01:12:02.439 --> 01:12:07.079
You can always see where we post Dave's monthly market

1544
01:12:07.159 --> 01:12:09.439
update in the newsletter. There. You can see all of

1545
01:12:09.439 --> 01:12:12.439
our newsletters by going to our website and signing up

1546
01:12:12.439 --> 01:12:15.119
for it as well. As we just came out with

1547
01:12:15.359 --> 01:12:17.960
new TV shows, so you can go on NBC Sunday

1548
01:12:18.000 --> 01:12:20.359
Morning or Sunday Night check those out. You can also

1549
01:12:20.399 --> 01:12:22.840
catch them on the YouTube page if you ever miss them.

1550
01:12:23.159 --> 01:12:25.720
This week, it was a lot of story around semi conductors.

1551
01:12:26.439 --> 01:12:30.640
The Chip act helped propel the video higher because they

1552
01:12:31.640 --> 01:12:34.199
helped the narrative that they were the latest and greatest

1553
01:12:34.279 --> 01:12:37.119
chip you needed them. But now that you had this

1554
01:12:37.199 --> 01:12:40.079
deep seat company come out, it's likely that that narrative

1555
01:12:40.159 --> 01:12:44.000
had a kink and its armor. Do you know about

1556
01:12:44.800 --> 01:12:48.399
Nicholas Teleeb, You know who that is. He's the author

1557
01:12:48.439 --> 01:12:51.279
of a book called Black Swans, and it talks about

1558
01:12:51.399 --> 01:12:54.720
black Swan events and almost how bubbles are formed and

1559
01:12:54.760 --> 01:12:58.880
broken in the past, and famous scenario of the tulip

1560
01:12:59.000 --> 01:13:02.479
mania and this was back in New Amsterdam, sure when

1561
01:13:02.520 --> 01:13:05.640
the tulips got real valuable and then crashed like crazy.

1562
01:13:05.680 --> 01:13:09.600
And it just talks about how when these narratives are formed,

1563
01:13:09.760 --> 01:13:12.560
things can go up very very quickly. But when that

1564
01:13:12.640 --> 01:13:15.920
narrative has its first little kink in its armor and

1565
01:13:15.960 --> 01:13:18.520
then that glass starts to break, it can all come

1566
01:13:19.840 --> 01:13:23.079
crumbling down very quickly as well. Think all the just

1567
01:13:23.119 --> 01:13:24.520
as fast as it went up, it can come down.

1568
01:13:24.520 --> 01:13:25.560
It's pretty much the point.

1569
01:13:26.079 --> 01:13:28.119
I think. I think that that's one of the reasons.

1570
01:13:28.159 --> 01:13:30.399
And I heard a couple of bandalists talk about this

1571
01:13:30.479 --> 01:13:34.039
last week where it probably if you have Nvidio's probably

1572
01:13:34.079 --> 01:13:37.760
makes some sense to lighten that position a bit because

1573
01:13:37.960 --> 01:13:40.880
that there is an uncertainty, and I think that's probably

1574
01:13:40.920 --> 01:13:43.039
one of the reasons it was down seventeen percent last

1575
01:13:43.039 --> 01:13:45.720
week and may have some more to come. But it's

1576
01:13:45.760 --> 01:13:49.800
it's for a couple of years, it's been every single

1577
01:13:49.920 --> 01:13:52.399
dip has been an opportunity to buy, and this may

1578
01:13:52.439 --> 01:13:56.199
be one as well. We won't only know in hindsight.

1579
01:13:56.359 --> 01:13:58.159
Yeah, but if you've owned it for a couple of years,

1580
01:13:58.560 --> 01:14:01.239
your position, if you had a favorite positions going to

1581
01:14:01.279 --> 01:14:01.600
be up.

1582
01:14:01.680 --> 01:14:03.319
So it's not a bad idea to take some profit.

1583
01:14:03.560 --> 01:14:05.880
I agree you your three is probably six.

1584
01:14:06.000 --> 01:14:08.079
Obviously, if you're in a taxable brokeredge you account, you

1585
01:14:08.079 --> 01:14:09.560
got to look into that to make sure you don't

1586
01:14:09.560 --> 01:14:12.079
realize too many games to deal with capital gains tax.

1587
01:14:12.119 --> 01:14:13.960
But if you're in a retirement account, you don't got

1588
01:14:14.000 --> 01:14:15.479
to worry about that, so it might makes sense to

1589
01:14:15.560 --> 01:14:17.399
raise some cash from profits from Nvidia.

1590
01:14:17.640 --> 01:14:17.840
Yeah.

1591
01:14:17.880 --> 01:14:20.560
We finished last week talking about our risk analyzing tool

1592
01:14:20.560 --> 01:14:22.800
and how it can help you prepare for market drops

1593
01:14:22.840 --> 01:14:25.359
like we saw on Monday, a two percent drop freaked

1594
01:14:25.359 --> 01:14:27.800
a lot of people out, but then also we saw

1595
01:14:27.800 --> 01:14:31.920
the market almost come back to where it started the week. Sure,

1596
01:14:31.960 --> 01:14:34.600
we ended about a percent down, but the now actually

1597
01:14:34.640 --> 01:14:38.840
finished up so quickly. Markets can change. You can't change

1598
01:14:38.880 --> 01:14:41.199
your investment thesis on a one day market move or

1599
01:14:41.239 --> 01:14:44.720
a one day event scenario. It really should be based

1600
01:14:44.760 --> 01:14:46.680
on a long term investment hes and your goals and

1601
01:14:46.720 --> 01:14:49.560
objectives of the plan, and just your pure risk tolerance

1602
01:14:50.119 --> 01:14:53.399
as in an individual. So having that risk tolerance is

1603
01:14:53.399 --> 01:14:55.199
something we can set for you. We can give you

1604
01:14:55.239 --> 01:14:57.239
a questionnaire. We can also set the risk tolerance of

1605
01:14:57.279 --> 01:15:00.600
your current portfolio. We have a software that will tell

1606
01:15:00.640 --> 01:15:02.960
you how risky each position is and then give you

1607
01:15:03.039 --> 01:15:06.000
an average riskore for the entire portfolio, and then we

1608
01:15:06.000 --> 01:15:08.960
can prepare that, I mean compare that to your actual

1609
01:15:09.039 --> 01:15:11.319
risk score and the risk wore your portfolio, and then

1610
01:15:11.399 --> 01:15:13.960
make adjustments if we need to based on that, but

1611
01:15:14.079 --> 01:15:17.199
not making adjustments based on the latest information that just

1612
01:15:17.239 --> 01:15:20.239
came out, because that can really make you emotional.

1613
01:15:21.640 --> 01:15:25.600
And the black swan event is something that typically is

1614
01:15:25.680 --> 01:15:30.239
going to be more impacting on high beta stocks, on

1615
01:15:30.359 --> 01:15:33.960
those stocks that have run up so dramatically and and

1616
01:15:33.960 --> 01:15:36.520
and generally speaking, it is because there's a lot of

1617
01:15:36.560 --> 01:15:40.119
fomo going on. There, a lot of fear of mithing out.

1618
01:15:40.239 --> 01:15:44.319
And you saw that with Nvidia, You've seen that with bitcoin. Uh.

1619
01:15:45.600 --> 01:15:50.359
It makes the possibility of a black swan event more

1620
01:15:50.399 --> 01:15:53.079
real for companies like that than for a Procter and

1621
01:15:53.119 --> 01:15:56.600
Gamble or a Colgate or something some more boring shock

1622
01:15:56.680 --> 01:15:57.159
if you will.

1623
01:15:57.199 --> 01:15:58.720
Did you see those cruise liners this week?

1624
01:15:58.960 --> 01:16:00.279
Yeah, they gotta they gotta bones.

1625
01:16:00.359 --> 01:16:02.319
My goodness, just tearing it up.

1626
01:16:02.720 --> 01:16:04.840
We're all Caribbeans doubled in the last twelve months.

1627
01:16:05.000 --> 01:16:07.319
And I think we've talked about price target. I mean,

1628
01:16:07.319 --> 01:16:09.960
they're they're training at I think I'm wrong.

1629
01:16:10.039 --> 01:16:12.279
If you if we talked about this about six months ago,

1630
01:16:12.319 --> 01:16:13.960
have you if you looked at a cruise liner's chart,

1631
01:16:14.520 --> 01:16:17.479
they're still they were still at the lows of the pandemic, right,

1632
01:16:17.720 --> 01:16:19.760
and then they were nowhere close to where they were

1633
01:16:19.760 --> 01:16:21.760
before the pandemic. So eventually you had to think they

1634
01:16:21.800 --> 01:16:23.680
had to get had to get there. We saw that

1635
01:16:23.720 --> 01:16:26.319
happen with the airline stocks. I mean, other than American,

1636
01:16:26.399 --> 01:16:27.920
all of them came back pretty much.

1637
01:16:28.319 --> 01:16:31.760
They they recovered very they had recovered very slowly, right,

1638
01:16:32.079 --> 01:16:34.840
the cruise line stock so slowly enough that they really

1639
01:16:35.000 --> 01:16:36.600
were of no interest to us.

1640
01:16:36.720 --> 01:16:39.359
People forgot about it in the office because you your

1641
01:16:39.399 --> 01:16:41.680
clients are wanting to make money in a market that's

1642
01:16:41.720 --> 01:16:44.640
moving higher, and those stocks were not moving higher. Yeah,

1643
01:16:45.560 --> 01:16:48.000
now the stock the market's kind of fattened out, and

1644
01:16:48.199 --> 01:16:50.520
off they go away, they go yeah, and it's just

1645
01:16:50.640 --> 01:16:53.920
it's hard to know. I always always say, our job

1646
01:16:54.079 --> 01:16:56.159
is every day, our job is to do the impossible,

1647
01:16:56.199 --> 01:16:58.960
and every now and then we get it right impossible,

1648
01:16:59.039 --> 01:17:01.760
being pretty confusure, I think right now you can say

1649
01:17:01.760 --> 01:17:05.600
that small caps are undervalued compared to the large caps,

1650
01:17:05.800 --> 01:17:11.479
and when that happens, small caps outperform large caps historically speaking.

1651
01:17:11.720 --> 01:17:14.920
So I don't think it's a bad idea to rediversify.

1652
01:17:15.119 --> 01:17:18.680
If you had a QQQ spy, anything associated with the

1653
01:17:18.720 --> 01:17:21.239
S and P five hundred NAZAC, which is highly tech related,

1654
01:17:21.520 --> 01:17:25.119
highly concentrated into a couple positions, you take some of

1655
01:17:25.119 --> 01:17:28.079
those profits and move it into a small cap, which

1656
01:17:28.680 --> 01:17:31.600
might not do great on the downside if there is

1657
01:17:31.640 --> 01:17:33.800
a downside event, like you said, a black Swan small

1658
01:17:33.800 --> 01:17:36.880
cap are beta high beta stocks, They're going to move down.

1659
01:17:37.079 --> 01:17:39.199
But when the market comes back off of that event.

1660
01:17:39.479 --> 01:17:41.399
They will be the first ones to come back, the

1661
01:17:41.439 --> 01:17:45.640
small caps, and then and then the large caps will too.

1662
01:17:45.680 --> 01:17:48.479
But eventually it's like what we say with the equal

1663
01:17:48.479 --> 01:17:51.319
weighted SMP and then the regular sm P, the equal

1664
01:17:51.359 --> 01:17:54.279
weighted will outperform the regular weighted at some point and

1665
01:17:54.600 --> 01:17:57.079
that's this will happen with small caps and large caps too.

1666
01:17:57.439 --> 01:17:59.840
And so as this trend has keep continuing, our large

1667
01:17:59.880 --> 01:18:03.000
cap keeps out performing, that's going to reverse at some point.

1668
01:18:03.439 --> 01:18:05.800
And if your portfolio was sixty forty and now we've

1669
01:18:05.800 --> 01:18:08.479
had back to back years with twenty percent gains, you're

1670
01:18:08.520 --> 01:18:11.600
probably more like a seventy five to twenty five and

1671
01:18:11.640 --> 01:18:14.039
you need to pair some of that back. And while

1672
01:18:14.119 --> 01:18:18.159
taxes are always a consideration, don't ever let taxes be

1673
01:18:18.239 --> 01:18:20.039
the reason you don't do the right thing.

1674
01:18:20.600 --> 01:18:24.319
Yeah, and as you said, reallocating into some more fixed income,

1675
01:18:24.319 --> 01:18:26.720
it's a perfect opportunity to go into a higher duration

1676
01:18:27.760 --> 01:18:31.640
ETF like a TLT or a EDF eDV that has

1677
01:18:32.600 --> 01:18:35.079
depreciated a lot over the last couple months as instur

1678
01:18:35.119 --> 01:18:37.439
rates have risen, and now we're at a point where

1679
01:18:37.439 --> 01:18:39.520
it doesn't look like rates it can go much higher

1680
01:18:39.600 --> 01:18:44.119
from here. Could they certainly, but they've already they're at

1681
01:18:44.199 --> 01:18:46.720
highs that we haven't seen since October twenty twenty three.

1682
01:18:46.840 --> 01:18:47.239
Right, So.

1683
01:18:48.800 --> 01:18:50.800
This is a good place to start a position of

1684
01:18:50.840 --> 01:18:52.520
going into the fixed income side.

1685
01:18:52.399 --> 01:18:55.399
Ye. Many times in my career I have had people

1686
01:18:55.439 --> 01:18:58.199
that did not want to sell something because of the

1687
01:18:58.279 --> 01:19:01.680
capital gain, and they waited long enough that that capital

1688
01:19:02.000 --> 01:19:05.239
capital gain disappeared. You didn't have to worry about that anymore.

1689
01:19:05.479 --> 01:19:05.680
Yeah.

1690
01:19:05.720 --> 01:19:07.359
We I mean, at the end of the day, taxes

1691
01:19:07.399 --> 01:19:08.239
me and you made money.

1692
01:19:08.560 --> 01:19:08.800
Yep.

1693
01:19:09.199 --> 01:19:11.640
Absolutely, you'd rather make money than not. Absolutely.

1694
01:19:11.760 --> 01:19:13.920
And I have a deal, a standing deal with all

1695
01:19:13.960 --> 01:19:17.159
of my clients. If you would rather have me take

1696
01:19:17.199 --> 01:19:20.159
the gain and pay the tax, I will. I will

1697
01:19:20.199 --> 01:19:25.000
happily do that if I bother If it bothers, you do,

1698
01:19:25.119 --> 01:19:27.920
and I'll take the gain and pay the tax. I'll

1699
01:19:27.960 --> 01:19:30.920
take that burden off of your shoulders. Not a problem. Hey,

1700
01:19:30.960 --> 01:19:33.840
it is officially the Gulf of America or Wolf of America.

1701
01:19:34.079 --> 01:19:37.079
Yeah, according to Google Maps, it's Gulf of America.

1702
01:19:37.279 --> 01:19:39.600
I think it's a it's not official until Google. It's

1703
01:19:39.640 --> 01:19:41.399
like you can't you know your birthday is not real

1704
01:19:41.479 --> 01:19:45.880
until it's on faithbook. Right? The Gulf of America isn't

1705
01:19:45.920 --> 01:19:49.479
official until it's on Google Maps. If Google Maps going

1706
01:19:49.520 --> 01:19:52.079
to change all of their maps, you know.

1707
01:19:52.159 --> 01:19:54.640
You know what, Well, a company that just got absolutely

1708
01:19:54.640 --> 01:19:59.000
obliterated UPS the first day in history, I believe.

1709
01:19:59.119 --> 01:20:01.399
Oh yes, and wow.

1710
01:20:01.960 --> 01:20:05.319
They're cutting back on Amazon shipments, which I don't know

1711
01:20:05.319 --> 01:20:08.880
how that helps them, but I just think Amazon had

1712
01:20:08.880 --> 01:20:11.680
to really killed that business model because it does not get.

1713
01:20:11.560 --> 01:20:14.640
A five year low. And what's been happening is UPS

1714
01:20:14.680 --> 01:20:18.279
has been delivering Amazon packages and they just came to

1715
01:20:18.319 --> 01:20:21.279
an agreement to deliver half as many packages.

1716
01:20:21.880 --> 01:20:22.880
Yeah, that doesn't make sense.

1717
01:20:23.039 --> 01:20:24.640
Yeah, and so the stock hits a five year low.

1718
01:20:24.760 --> 01:20:26.640
Doesn't make sense to you? What, like, why are they

1719
01:20:26.680 --> 01:20:29.159
going to Why would that they would agree to that?

1720
01:20:29.199 --> 01:20:32.800
Because otherwise they're gonna get none? All right, that's I mean,

1721
01:20:32.840 --> 01:20:35.439
that's the option. You're seeing these blue Amazon trucks all

1722
01:20:35.439 --> 01:20:37.640
over town. How about this, UPS? How about we give

1723
01:20:37.640 --> 01:20:43.399
you none? Okay, okay, we'll take half. Right so that

1724
01:20:43.479 --> 01:20:45.960
you ask why why they would agree that. That's why

1725
01:20:45.960 --> 01:20:49.239
they would agree to it, because because it beats none.

1726
01:20:49.039 --> 01:20:52.479
So Amazon no longer needs them. They're gonna not.

1727
01:20:53.199 --> 01:20:55.039
They need them, but they don't need them as badly

1728
01:20:55.079 --> 01:20:57.159
as they did because they got so many delivery trucks.

1729
01:20:57.159 --> 01:21:00.000
And I'm sure it's a contract, probably a three year contract,

1730
01:21:00.039 --> 01:21:02.560
probably something at least a three year to five year contract,

1731
01:21:02.840 --> 01:21:06.079
and they just renegotiated and Amazon said, I'll tell you

1732
01:21:06.079 --> 01:21:07.880
what We'll let's you do half as much as we

1733
01:21:08.000 --> 01:21:10.439
used to do in the UPS. Okay, yeah, fine, you

1734
01:21:10.439 --> 01:21:12.159
know we'll take better than zero. Yeah.

1735
01:21:12.199 --> 01:21:14.000
I definitely don't think you can use UPS as a

1736
01:21:14.039 --> 01:21:15.640
gauge of the global economy anymore.

1737
01:21:15.640 --> 01:21:18.079
No, not anymore. I was actually in an UPS.

1738
01:21:18.359 --> 01:21:20.760
Oh that X is the measure of the global economy

1739
01:21:21.119 --> 01:21:24.039
only because it really is the only shipper that really

1740
01:21:24.079 --> 01:21:31.359
truly is doing business globally, right, I mean DHL in Europe,

1741
01:21:32.000 --> 01:21:35.920
the UPS and the United States FDx federal expresses all

1742
01:21:35.960 --> 01:21:39.279
over the place, So that's kind of why they're the measure.

1743
01:21:39.439 --> 01:21:44.640
I thought something very significant announced on Friday, fair Text.

1744
01:21:44.720 --> 01:21:48.840
It's a pharmaceutical company. It's done absolutely nothing. The stocks

1745
01:21:48.840 --> 01:21:51.800
down one percent in the last twelve months. They gained

1746
01:21:51.840 --> 01:21:55.039
seven percent at the open on Friday. The FDA approved

1747
01:21:55.439 --> 01:22:01.560
their non opioid painkiller. Now that's huge, because yeah, all

1748
01:22:01.600 --> 01:22:04.039
we have is to talk about the opioid epidemic, right,

1749
01:22:04.399 --> 01:22:07.000
and and it's and as as someone who has had

1750
01:22:08.479 --> 01:22:13.279
injuries and has had surgeries and has been given opioids, Uh,

1751
01:22:13.399 --> 01:22:18.760
it's not fun to give up the opioids. So I

1752
01:22:18.800 --> 01:22:23.680
think if you could get a pain reliabor that was effective,

1753
01:22:23.920 --> 01:22:27.439
a non addictive, a non opioid, I think that could

1754
01:22:27.439 --> 01:22:31.399
be a big, big market. So we'll see where that goes.

1755
01:22:31.560 --> 01:22:36.319
It's the it's the first new painkiller in decades. Now.

1756
01:22:36.399 --> 01:22:39.680
They they've revamped there, they revamp, et cetera, and you know,

1757
01:22:39.920 --> 01:22:43.039
new and improved, right, but it's the first truly new

1758
01:22:43.359 --> 01:22:45.720
painkiller in literally decades.

1759
01:22:46.079 --> 01:22:46.359
Wow.

1760
01:22:47.000 --> 01:22:49.840
How much how much does the soccer ellly off of that?

1761
01:22:50.000 --> 01:22:50.319
Is it?

1762
01:22:50.479 --> 01:22:52.720
You know, that's what AI will really help with is

1763
01:22:53.119 --> 01:22:56.600
creating new painkillers, new medicines, new things like that, and

1764
01:22:56.640 --> 01:22:59.239
that you know, people just can't come up with themselves.

1765
01:22:59.760 --> 01:23:01.640
Big think about what Orcle was saying too with the

1766
01:23:01.640 --> 01:23:04.800
new investment into AI is that's what they're looking to do,

1767
01:23:05.319 --> 01:23:08.760
and do a lot of cancer stuff as well.

1768
01:23:09.399 --> 01:23:11.960
We've said on the show for almost every single week,

1769
01:23:12.000 --> 01:23:13.520
I think for the last couple of months that we

1770
01:23:13.600 --> 01:23:17.920
think that probably medicine is the primary beneficiary and a.

1771
01:23:17.840 --> 01:23:20.880
Big medicine story this week was John John F. Kennedy

1772
01:23:20.960 --> 01:23:26.159
Robert F. Kennedy being testified in front of the Senate

1773
01:23:26.479 --> 01:23:30.760
to be brought it could be confirmed as the Health secretary.

1774
01:23:31.319 --> 01:23:33.079
So that's gonna be really interesting. I haven't voted on

1775
01:23:33.119 --> 01:23:35.479
it yet, so they probably vote on it next week.

1776
01:23:36.479 --> 01:23:38.960
But he's done both of his hearings from the Finance

1777
01:23:39.039 --> 01:23:41.640
and he's done Health Committee. So now it's they do

1778
01:23:41.720 --> 01:23:44.119
their internal talking and they decide what they do.

1779
01:23:44.760 --> 01:23:48.680
So the former Democrat now now trump'skur whose family can't

1780
01:23:48.680 --> 01:23:51.199
stand him, and we'll have to see what happens.

1781
01:23:51.239 --> 01:23:53.079
It'd be the really good thing for a nation. I

1782
01:23:53.079 --> 01:23:54.039
know you don't believe it, but.

1783
01:23:54.199 --> 01:23:56.760
Well, you know, I think it's one of those people

1784
01:23:56.800 --> 01:23:59.319
that may not have all the origin of water. But

1785
01:24:00.000 --> 01:24:02.279
you know, he has a lot of fans and he

1786
01:24:02.319 --> 01:24:03.399
has a lot of detractors.

1787
01:24:03.560 --> 01:24:04.560
I'm one of his fans.

1788
01:24:04.680 --> 01:24:08.319
No, and my my daughter is as well, and I'm not.

1789
01:24:08.479 --> 01:24:11.159
So that's that is what it is. Uh, and we'll

1790
01:24:11.159 --> 01:24:13.159
we'll have to see how that hearing goes. It's gonna

1791
01:24:13.159 --> 01:24:15.119
be interesting to watch that vote. It's gonna be close.

1792
01:24:15.439 --> 01:24:17.439
We'll be back with the final segment of the Money

1793
01:24:17.439 --> 01:24:17.920
Matter Show.

1794
01:24:18.039 --> 01:24:20.840
Right after this break, Welcome back to the Money Matter Show.

1795
01:24:20.880 --> 01:24:22.920
This is the last segment. Money was Sebastian Border seeing

1796
01:24:22.960 --> 01:24:25.960
him here with David Sherwood, Dylan Greenberg, and Todd Glick Junior.

1797
01:24:26.159 --> 01:24:27.880
We talked a little bit about at the top of

1798
01:24:27.920 --> 01:24:29.560
the break, I mean on top of the show, but

1799
01:24:29.760 --> 01:24:33.920
Variative Holdings VRT stock lost forty two on one day

1800
01:24:33.920 --> 01:24:36.560
on Monday, largely due because in the video they are

1801
01:24:36.600 --> 01:24:38.399
the cooling of the Blackwell chip. If you don't need

1802
01:24:38.399 --> 01:24:40.279
the great latest and greatest Blackwell chip, you don't need.

1803
01:24:40.399 --> 01:24:43.560
VRT lost forty two percent, only finished the week down

1804
01:24:43.640 --> 01:24:47.439
twenty percent, so actually made forty after that drop to

1805
01:24:47.439 --> 01:24:50.520
get back up to only being down twenty percent. It's

1806
01:24:50.560 --> 01:24:53.439
done really well on the last four days of trading.

1807
01:24:53.840 --> 01:24:55.199
Did terrible on Monday.

1808
01:24:55.000 --> 01:24:58.000
But to be fair, before that horrible trading day that

1809
01:24:58.000 --> 01:24:59.760
had dropped forty percent, what to go up the five

1810
01:24:59.840 --> 01:25:00.479
day before that.

1811
01:25:00.640 --> 01:25:02.920
Yeah, it's actually very interesting when you want to look

1812
01:25:02.960 --> 01:25:03.800
at the chart.

1813
01:25:03.800 --> 01:25:05.239
What's back to where it was a week as though?

1814
01:25:05.319 --> 01:25:07.479
Well that's what I mean, I mean ten days ago.

1815
01:25:07.760 --> 01:25:10.159
If you wanted to look at on a monthly basis,

1816
01:25:10.199 --> 01:25:13.800
it's actually up over the past month. Okay, so you

1817
01:25:14.000 --> 01:25:16.920
wouldn't guess that like a thought goes through a forty correction.

1818
01:25:17.239 --> 01:25:20.199
Yeah, but right before the forty correction was a new

1819
01:25:20.239 --> 01:25:21.520
all time high exactly.

1820
01:25:21.640 --> 01:25:24.239
And that's what doesn't happen very often, is you go

1821
01:25:24.399 --> 01:25:27.760
up and then drop forty percent very quickly. By itself,

1822
01:25:28.800 --> 01:25:32.359
just goes to show how quickly market developments can change

1823
01:25:32.399 --> 01:25:33.159
a business model.

1824
01:25:33.239 --> 01:25:34.960
This was a biggie. I mean, this is this is

1825
01:25:35.039 --> 01:25:39.479
this entire rally has been based upon AI and Nvidia

1826
01:25:39.680 --> 01:25:42.920
is the king of AI. And if in fact you

1827
01:25:43.119 --> 01:25:47.079
don't need the Nvidia chip and can actually do it

1828
01:25:47.119 --> 01:25:50.199
with some of their older, cheaper chips, that's a game

1829
01:25:50.319 --> 01:25:55.640
changer that changes everything down the road. So I think

1830
01:25:56.359 --> 01:25:59.359
probably that there were a lot of detractors after the

1831
01:25:59.439 --> 01:26:02.840
comments from deep seek that it really wasn't that big

1832
01:26:02.880 --> 01:26:06.239
a deal and that they really didn't change that much

1833
01:26:06.279 --> 01:26:09.000
and they hadn't really gotten that sophisticated. Well.

1834
01:26:09.000 --> 01:26:10.479
I think a big thing that you're saying too is

1835
01:26:10.520 --> 01:26:15.600
that in large stock market part is that people might

1836
01:26:15.800 --> 01:26:17.680
just start taking profit from nvideo. So that might just

1837
01:26:17.720 --> 01:26:19.920
see a drop in that case where a lot of

1838
01:26:19.920 --> 01:26:21.560
people have been holding for a few years, like we're

1839
01:26:21.560 --> 01:26:23.399
talking about last segment, and now they're going to start

1840
01:26:23.399 --> 01:26:26.840
taking profits. I could see the stock drop just because

1841
01:26:26.880 --> 01:26:30.000
of that. They're like, Okay, now because of this news,

1842
01:26:30.000 --> 01:26:33.159
what if more news comes out and our gains start dropping,

1843
01:26:33.479 --> 01:26:35.359
Let's just take some profit right now. So that might

1844
01:26:35.359 --> 01:26:37.560
be an issue that they see in the near term.

1845
01:26:37.720 --> 01:26:41.119
We had a nice rally of Friday morning before Trump

1846
01:26:41.119 --> 01:26:46.039
announced the tariffs on Mexico and Canada that turned everything south.

1847
01:26:47.119 --> 01:26:51.800
And in that rally again early Friday morning, and video

1848
01:26:52.960 --> 01:26:57.439
didn't really look that strong to me. I actually shorted

1849
01:26:57.479 --> 01:27:01.199
a little bit of it Friday for a day trade.

1850
01:27:01.239 --> 01:27:03.079
It was up nicely and then it just got crushed.

1851
01:27:03.119 --> 01:27:04.279
I was up a couple of a couple of points.

1852
01:27:04.279 --> 01:27:06.039
I think it's actually at the highest. Probably was up

1853
01:27:06.039 --> 01:27:08.079
three points, which is that's not terrible. That's two and

1854
01:27:08.119 --> 01:27:11.560
a half percent, and then it just got went south

1855
01:27:11.560 --> 01:27:14.640
in a hurry. Apples the other one, Apple opened at

1856
01:27:14.760 --> 01:27:17.199
one nine. I think it closed the day on Friday

1857
01:27:17.239 --> 01:27:24.359
about one thirty five. I'm sorry, yeah, two thirty five.

1858
01:27:24.359 --> 01:27:27.079
I'm going to confuse with Nvidio, So two thirty five

1859
01:27:27.079 --> 01:27:30.279
from two forty nine. So down fourteen points. I thought,

1860
01:27:30.319 --> 01:27:32.520
when it, you know, because I know that they're they're

1861
01:27:32.520 --> 01:27:35.119
struggling a bit. I know that their business is slowed.

1862
01:27:35.520 --> 01:27:39.520
I know their China sales are down double digits. When

1863
01:27:39.560 --> 01:27:42.119
it when it showed the strong opening, it had a

1864
01:27:42.239 --> 01:27:44.560
strong day on Wednesday and a strong day on Thursday,

1865
01:27:45.000 --> 01:27:46.920
and on Friday morning when it opened higher on the

1866
01:27:46.960 --> 01:27:51.239
earnings report, I go, I'm either missing something or this

1867
01:27:51.359 --> 01:27:55.279
is a real great short opportunity. Again, short was selling

1868
01:27:55.319 --> 01:27:58.119
a stock that you don't own in the hope that

1869
01:27:58.159 --> 01:28:00.800
you can buy it back cheaper. Problem with that is

1870
01:28:00.840 --> 01:28:03.920
if it keeps going higher, at some point, you've got

1871
01:28:04.000 --> 01:28:06.680
to buy it back and there's no h The problem

1872
01:28:06.720 --> 01:28:09.960
with shortening the stocks is there is a limit to

1873
01:28:10.000 --> 01:28:12.359
what you can make, but there is no limit to

1874
01:28:12.359 --> 01:28:15.039
what you can lose. And I've never thought that was

1875
01:28:15.079 --> 01:28:18.840
a real good risk reward trade off where you could

1876
01:28:18.960 --> 01:28:22.039
lose an unlimited amount of money but only make a

1877
01:28:22.159 --> 01:28:25.760
specific amount of money. Yeah, I'm kind of like betting

1878
01:28:25.800 --> 01:28:26.520
on football, right.

1879
01:28:26.439 --> 01:28:29.880
The unlimited things limited football.

1880
01:28:30.039 --> 01:28:33.880
Oh yeah, technically you could if you just went every bet.

1881
01:28:34.880 --> 01:28:36.960
Now I'm talking about about it, Any any single bet,

1882
01:28:37.479 --> 01:28:39.760
any single bet you they cap you out.

1883
01:28:39.800 --> 01:28:42.439
I try to make parlays sometimes and they cap you

1884
01:28:42.479 --> 01:28:43.680
out at like a certain amount.

1885
01:28:43.880 --> 01:28:45.680
Yeah, I mean, you're upside's not gonna win.

1886
01:28:46.039 --> 01:28:47.439
But they still in the office.

1887
01:28:47.600 --> 01:28:50.119
Chance that it does win, they can't afford that payout,

1888
01:28:50.159 --> 01:28:50.800
so they cap you.

1889
01:28:50.960 --> 01:28:53.199
Hey, Dave, did you see that Trump Media is changing

1890
01:28:53.199 --> 01:28:54.000
their business model?

1891
01:28:54.119 --> 01:28:57.439
I did? Is that crazy or what? Guys we've been

1892
01:28:57.439 --> 01:29:00.239
We've talked about this. We talked about this Trump Media

1893
01:29:01.680 --> 01:29:04.600
a nauseum, right, because it literally is a company that

1894
01:29:04.680 --> 01:29:06.439
I think last year had a couple of million dollars

1895
01:29:06.479 --> 01:29:09.479
in sales. It's not really even a going concern.

1896
01:29:09.560 --> 01:29:12.399
Intrinsic value was maybe two values.

1897
01:29:12.520 --> 01:29:15.359
Balk or two per share. It's been trading in the thirties.

1898
01:29:16.119 --> 01:29:19.199
I've got down twelve percent since the election, but he

1899
01:29:19.359 --> 01:29:22.520
jumped ten percent on Wednesday after they said they're going

1900
01:29:22.560 --> 01:29:27.560
to expand into financial services, including investment vehicles and bitcoin.

1901
01:29:28.960 --> 01:29:33.560
So Trump Media and I you know, I don't discount

1902
01:29:33.600 --> 01:29:40.119
anything that he does because everything he not everything. Many

1903
01:29:40.159 --> 01:29:41.760
of the things he has touched in his life have

1904
01:29:41.840 --> 01:29:45.039
worked out really well. And I'm sure he's had a

1905
01:29:45.039 --> 01:29:46.960
lot of people along the way. So don't do it

1906
01:29:47.000 --> 01:29:48.359
that way. Don't do it that way, and he just

1907
01:29:48.439 --> 01:29:50.239
keeps doing it the same way he's always done, and

1908
01:29:50.319 --> 01:29:54.760
it worked out. I think you've got enough power in

1909
01:29:54.920 --> 01:29:59.439
that name that this company could hang around long enough

1910
01:29:59.439 --> 01:30:01.199
to wear really became a real company.

1911
01:30:01.239 --> 01:30:02.840
I think so too, But I have no idea what

1912
01:30:02.880 --> 01:30:05.319
they're going to do with this new financial services I mean,

1913
01:30:05.840 --> 01:30:09.680
the true five truth FY business unit plans to launch

1914
01:30:09.720 --> 01:30:12.279
its own investment vehicles later this year. What does that mean?

1915
01:30:12.319 --> 01:30:14.439
Are they going to launch ETFs? Are they gonna you know,

1916
01:30:15.720 --> 01:30:16.680
is it going to be a brokeerage?

1917
01:30:16.680 --> 01:30:20.239
Oh? Yeah? The article I read said financial services.

1918
01:30:20.319 --> 01:30:22.119
Yeah, so like a rock, like a Charles Schwab.

1919
01:30:22.600 --> 01:30:26.479
Yeah? Yeah, so could it? Could that grow into something? Perhaps?

1920
01:30:27.239 --> 01:30:30.319
And are you patient enough to hold a thirty dollars

1921
01:30:30.319 --> 01:30:34.000
stock that's worth two until the two becomes thirty? I

1922
01:30:34.239 --> 01:30:37.520
guess my thought on it was this company would have

1923
01:30:37.640 --> 01:30:41.439
to grow so exponentially. Better places to get back to

1924
01:30:41.520 --> 01:30:42.680
where it is now.

1925
01:30:42.600 --> 01:30:45.520
Better places for your money, it seems like it. Another

1926
01:30:45.600 --> 01:30:49.039
one that's uh interesting to me is Reddit. I mean,

1927
01:30:49.079 --> 01:30:51.720
they hit an all time high shares gains more than

1928
01:30:51.720 --> 01:30:55.239
three percent this year after Guggenheimen reddit or said that

1929
01:30:55.279 --> 01:30:57.600
Reddit is among the company's best position this year to

1930
01:30:57.640 --> 01:31:00.880
benefit from its digital ad landscape, especially as it utilizes

1931
01:31:00.960 --> 01:31:04.800
new format formats to monetize. So, I still don't see

1932
01:31:04.840 --> 01:31:06.520
ads on Reddit personally.

1933
01:31:06.119 --> 01:31:08.319
What what would a person use Reddit for?

1934
01:31:09.479 --> 01:31:12.920
It's like a disc like it's a forum.

1935
01:31:13.199 --> 01:31:14.079
Is it a search engine?

1936
01:31:15.439 --> 01:31:17.359
Yeah, you could call it a search engine. And so

1937
01:31:17.399 --> 01:31:20.560
there's like communities in there. So like the Wall Street,

1938
01:31:20.920 --> 01:31:23.600
that's community in there, if you remember that with the

1939
01:31:23.640 --> 01:31:26.880
all game stop stuff. A community you go into there

1940
01:31:26.880 --> 01:31:29.119
and people talk about stocks, what do I want to

1941
01:31:29.119 --> 01:31:30.600
buy here? What do I want to buy there? There's

1942
01:31:30.600 --> 01:31:35.800
communities for what type of you know, clean eating communities, whatever.

1943
01:31:35.840 --> 01:31:37.279
It's a communal based forum.

1944
01:31:37.399 --> 01:31:39.039
So is the chat room?

1945
01:31:39.239 --> 01:31:40.720
Yeah, essentially you could call it that.

1946
01:31:41.039 --> 01:31:42.560
Okay, So it wouldn't be a search engine.

1947
01:31:43.079 --> 01:31:45.199
No, No, it's not really a search engine. You can

1948
01:31:45.399 --> 01:31:49.399
search like topics, question into a chat room in a sense.

1949
01:31:49.479 --> 01:31:53.119
I see, So you you search some like plants you

1950
01:31:53.239 --> 01:31:53.680
go into it.

1951
01:31:53.920 --> 01:31:58.039
Yeah, yes, it's like what plants grow well in Arizona

1952
01:31:58.319 --> 01:31:59.039
and there's a chat.

1953
01:31:58.920 --> 01:32:01.039
Room talking about Arizona plants serien.

1954
01:32:01.159 --> 01:32:04.199
Yeah. Interesting. Yeah, but you don't see ads?

1955
01:32:04.439 --> 01:32:06.479
Yeah, I mean, and I'm not a big Reddit users.

1956
01:32:06.520 --> 01:32:08.560
I just sometimes find myself on it. I go to

1957
01:32:08.600 --> 01:32:09.960
it and I don't see ads on there.

1958
01:32:10.199 --> 01:32:11.439
No stock has done well.

1959
01:32:11.319 --> 01:32:13.199
Done really well. It's an all the time high.

1960
01:32:13.680 --> 01:32:16.039
I thought. The one that that that just keeps going

1961
01:32:16.159 --> 01:32:20.079
is is Boying. You know, Boying has has very quietly

1962
01:32:20.119 --> 01:32:22.880
gone up thirteen percent in the last ninety days. Gained

1963
01:32:22.920 --> 01:32:27.079
another six percent on Tuesday, despite reporting that there's the

1964
01:32:27.279 --> 01:32:30.720
Q four results missed analyst estimates. They had a loss

1965
01:32:30.760 --> 01:32:34.960
of five dollars and ninety cents per share. Five dollars

1966
01:32:35.039 --> 01:32:37.640
and ninety cents per share. Analysts thought they were going

1967
01:32:37.720 --> 01:32:41.960
to lose three dollars, so the stock the company lost

1968
01:32:42.159 --> 01:32:45.760
double what they were expected to lose, and the stock

1969
01:32:45.800 --> 01:32:50.439
went up. I don't know, it's almost like Tesla. I

1970
01:32:50.520 --> 01:32:52.720
just kind of scratched my head and say, say, what's

1971
01:32:52.760 --> 01:32:57.920
going on here? Maybe this quarterly report was the end

1972
01:32:57.960 --> 01:33:00.760
of the bad news. Maybe that's what invests are thinking.

1973
01:33:01.640 --> 01:33:02.319
But they're hoping.

1974
01:33:02.520 --> 01:33:06.199
The CEO was on CNBC and he did make optimistic comments,

1975
01:33:06.199 --> 01:33:09.399
so that's got to be what they're betting, is that

1976
01:33:09.399 --> 01:33:11.640
that's it, that's the end of the of the bad news.

1977
01:33:11.840 --> 01:33:15.039
I guess my biggest concern with Boeing is they don't

1978
01:33:15.039 --> 01:33:18.680
have earnings, they're losing money handle or fist. What if

1979
01:33:18.680 --> 01:33:23.239
they actually did have earnings, then they would have a pe. Yeah,

1980
01:33:23.279 --> 01:33:28.199
and the pe would be very very high an issue

1981
01:33:28.279 --> 01:33:32.159
for four or five years now. Yeah, like the unbelievable.

1982
01:33:32.920 --> 01:33:36.199
But I mean it's it's been at It's probably one

1983
01:33:36.239 --> 01:33:40.640
of the top performing dollstocks this year. Three M was

1984
01:33:40.720 --> 01:33:41.199
number one.

1985
01:33:41.279 --> 01:33:42.600
I'll let you know next week. I got to do

1986
01:33:42.640 --> 01:33:43.039
the update.

1987
01:33:43.119 --> 01:33:44.720
Yeah, you will have the update next week. But I

1988
01:33:44.760 --> 01:33:46.960
would think that Boyings will in the probably the top

1989
01:33:47.359 --> 01:33:48.640
in the top ten for sure.

1990
01:33:49.600 --> 01:33:52.600
A company I believe Salesforce is in there too, right,

1991
01:33:52.640 --> 01:33:57.199
the sales Force. Yeah, Salesforce briefly tied it's all time

1992
01:33:57.279 --> 01:33:59.920
high this week and bounced off of it and then

1993
01:34:00.159 --> 01:34:03.159
really have ended up the week that well. But Salesforce

1994
01:34:03.279 --> 01:34:06.079
ended up being a beneficiary off of the AI agent

1995
01:34:06.159 --> 01:34:09.840
model because they they actually would have somehow benefited from

1996
01:34:09.920 --> 01:34:12.520
deep seek, so they were actually kind of they held

1997
01:34:12.520 --> 01:34:13.159
in there pretty well.

1998
01:34:13.479 --> 01:34:16.079
Yeah. I saw that. I saw that. I listened to

1999
01:34:16.079 --> 01:34:18.159
a couple of the articles and read a couple of

2000
01:34:18.239 --> 01:34:22.159
articles about how their benefit fitting from this deep seek thing.

2001
01:34:22.159 --> 01:34:23.239
And I don't understand it.

2002
01:34:23.279 --> 01:34:25.880
I think it's because they use AI agents and it

2003
01:34:25.920 --> 01:34:28.600
doesn't necessarily matter to them whether they're using a chat

2004
01:34:28.640 --> 01:34:30.640
GBT model or a deep seek model.

2005
01:34:30.720 --> 01:34:31.640
Explain that a little bit.

2006
01:34:31.680 --> 01:34:32.640
What's an AI agent.

2007
01:34:32.960 --> 01:34:35.319
An AA agent is something that would do tasks for

2008
01:34:35.439 --> 01:34:37.239
you that would take three to four hours to three

2009
01:34:37.319 --> 01:34:38.359
to four days, right.

2010
01:34:38.239 --> 01:34:40.720
So Dave, rather than on chat GBT, you ask it

2011
01:34:40.760 --> 01:34:42.680
a question, it comes up with the answer. It gives you,

2012
01:34:42.680 --> 01:34:45.079
you know, from a couple of different articles. You tell it, hey,

2013
01:34:45.119 --> 01:34:47.119
I need you to build me in Excel sheets, here's

2014
01:34:47.159 --> 01:34:49.479
my data points, and it will start working on it

2015
01:34:49.479 --> 01:34:51.079
for you, give you an answer in about three to

2016
01:34:51.119 --> 01:34:51.800
four hours.

2017
01:34:52.199 --> 01:34:52.800
That's aging.

2018
01:34:52.960 --> 01:34:55.680
Yeah, I suppose it's long term project. So you'd like, hey,

2019
01:34:55.720 --> 01:34:57.279
I need you to build me an app.

2020
01:34:57.479 --> 01:34:59.640
So that's what salesforce dot com does well.

2021
01:35:00.119 --> 01:35:02.479
One of the examples of the commercial is AI agents

2022
01:35:02.560 --> 01:35:04.760
that they would do. Like Matthew McConaughey talks about how

2023
01:35:05.199 --> 01:35:09.359
AI agent could help you book a reservation at a

2024
01:35:09.359 --> 01:35:12.119
at a restaurant, and if the AI agent knows that

2025
01:35:12.199 --> 01:35:14.640
it's raining, it won't book it outside in a restaurant

2026
01:35:14.680 --> 01:35:19.000
that'd be outside side, and it could literally buy vacations

2027
01:35:19.000 --> 01:35:21.840
for you. It could do everything for you, and it

2028
01:35:21.880 --> 01:35:24.560
confirms it with you, of course, but it does all

2029
01:35:24.600 --> 01:35:27.159
the clicking, it puts your credit card information, and it

2030
01:35:27.199 --> 01:35:28.039
does everything for you.

2031
01:35:28.079 --> 01:35:29.600
So it's going to be really good for anybody that's

2032
01:35:29.600 --> 01:35:30.680
indecisive out there.

2033
01:35:30.960 --> 01:35:33.600
Again, do this for me again. This is a computer

2034
01:35:33.920 --> 01:35:37.720
technology thinking is smarter than me, which does not sit

2035
01:35:37.840 --> 01:35:40.000
well with me. I had a little experience with that

2036
01:35:40.119 --> 01:35:42.880
on Friday, and it did not play well with me.

2037
01:35:43.359 --> 01:35:45.560
I did not like it telling me what to do.

2038
01:35:45.760 --> 01:35:47.960
But then I've always had a problem with authority figures,

2039
01:35:48.039 --> 01:35:50.159
and maybe that's what it is. Maybe it's the whole

2040
01:35:50.199 --> 01:35:54.399
authority figure thing. Anyway, we want to be happy, and

2041
01:35:54.439 --> 01:35:57.079
we want to be healthy, because if we're not healthy,

2042
01:35:57.119 --> 01:36:01.720
we're not happy. Right burg, Financial, what we're really trying

2043
01:36:01.760 --> 01:36:02.000
to be.

2044
01:36:02.159 --> 01:36:05.399
Is profitable for you next week.

2045
01:36:08.359 --> 01:36:10.439
M m mmmmm