Dec. 1, 2024

Market Milestones and Financial Feasts: Thanksgiving Week Insights

Market Milestones and Financial Feasts: Thanksgiving Week Insights
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Market Milestones and Financial Feasts: Thanksgiving Week Insights
Market Milestones and Financial Feasts: Thanksgiving Week Insights

Join the Money Matters Radio Show, brought to you by the Greenberg Financial Group, as we carve into this Thanksgiving trading week! The markets served up new all-time highs, and with December’s historically strong momentum ahead, we dish out whether...

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Join the Money Matters Radio Show, brought to you by the Greenberg Financial Group, as we carve into this Thanksgiving trading week! The markets served up new all-time highs, and with December’s historically strong momentum ahead, we dish out whether this rally has more room to run. Plus, we unwrap our proven financial planning process that’s been helping folks gear up for critical decisions and fine-tune their asset allocation. It’s a feast of insights, strategies, and a little holiday cheer—don’t miss it!

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Good morning, Tucson, and Happy Thanksgiving. Hopefully everyone's having a

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great Thanksgiving. We have a lot to be thankful for,

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a lot to look forward to in the future, and

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I hope you guys are enjoying it. I mean, you

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know that the intensity, the intensity of the election is

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over right now. So you know, it's like you can

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go to Thanksgiving and sit there and just smile to

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those that are scared and just if they have questions,

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you answer them. If they don't, then let them be.

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But at the end of the day, we're seeing the

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movements going in the right direction.

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You know.

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The markets like it, and that's what we're interested in

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the most right now. The war right across the board.

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I've never seen this before. Everything the Dow, S and P,

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na's Dak Russell and the equal weighted SMP, they're all

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up one point one percent for the week, maybe one

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point two percent, which gives them a great month. The

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S and P was up almost was up five point seven,

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that DO was up seven and a half, the NAVZAC

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was up six point two, the wrestle was up eleven,

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and the equal weighted S and P five hundred is

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up six and a half percent. That's very very good,

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good returns for the year. If that's all your If

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you have your money that's invested like the indexages, that's

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what you made. It's how much you have, probably your

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whole portfolio. It's not just an invested in it. So

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you know if you have bonds and stuff, remember it's

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a total return and your bonds are probably going to

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give you four or five percent, if the if the

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S and P gives you twenty percent, depending what your

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your your share is, that's where you're going to be.

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So understand that as you look at your overall portfolio.

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I'm going to talk about where we stand as money managers,

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what we're doing, and what we're thinking, and why we're

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thinking it, and uh, we're cautious, there's no doubt. But

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before that you have to make the disclaimer. Greenberg Financial

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Group is both a registered investment advisory and a broken

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dealer registered with the SEC, members of FINRA and members

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of SIPIK. On this show, we talk about different products

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and different strategies. Everything has everyone has their own opinion.

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Just understand everything has risk. Everything has risk. Everything we

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talk about has risk. Somehows less risks than others, Some

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have more risk than others. But understand risk and your

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portfolio and your risk tolerance prior to investing. I can't

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tell you any clearer. Everything has risk, and the markets

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have risk. Right now. I mean we're making new highs, guys,

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We're making new highs across the board. Okay, think about that.

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The S and P made a new high, the Dow

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makes a new high. Everything's making a new high. Why

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Because people are afraid to miss out. They keep investing

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the money. But I see rotation going on. The money's

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moved pretty much from those high tech AI type stocks

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because they've kind of been going back and forth in

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the same trading range and moving more into the industrials,

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more into the Dow Joe's Timestot Dow Jones type stocks,

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financials and stuff, which is great for building a base.

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But the diversion is starting to bother me. Money's coming

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out of one and going to the other. I don't

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see money coming in. New money needs to come in

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to make the markets rally even more. New money needs

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to come in to let the markets rally more. So

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with that, when do we get new money. Well after

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the first of the years, when we usually get new money,

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people then start putting money back into the foreign case.

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People that have already maxed them out. We'll start all

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over again. New money, bonuses, you name it, all come

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in after the first of the year, so January, February,

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March usually you see new money coming in. New money

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comes into set plans, new money comes into therefore not

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on their foreign case. But I raise raw thigh raise.

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It's new money that comes in which can propel the

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markets higher in the first part of the year. And

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you know, seasonally, that's what it is. So what happens

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between now and then. If I had a guess, most

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people are cautious right now, and there's a good reason.

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Evaluations aren't great. Markets are funneled into a few stocks.

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Now it's starting to broaden out a little bit. You

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got retail season season, and then you got obviously, you

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know Trump talking about tariffs raising prices. If that happens,

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nobody really knows. So as the talk gets heated closer

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to January, I think you can come in next week

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and see, you know, a little bit of a selloff.

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I'm not looking for a crash right now. I'm looking

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for maybe a three, five, maximum seven or ten percent pullback.

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I don't even think it gets seven to ten. I

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think it's a three to five, maybe seven percent pullback.

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So what's five percent to three that that's three hundred

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S and P points brings you down to fifty seven hundred.

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If it does go down a ten percent, that brings

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you down to fifty four hundred on the S and

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P five hundred. I do believe that any pullback will

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be bought going into the end of the year, and

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if not, the end of the year, beginning January through April,

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you'll see that it all bounce back. So if you

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see the opportunity here and you're underinvested, which a lot

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of us are because I've been cautious taking money off

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the table and sitting getting my money market funds, which

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you are paying I don't know, close to four and

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a half five percent, and happy with it. Okay, happy

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with it. I just waiting to see for an opportunity. Patients. Patients,

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Patience is the virtue of the game, because if you

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don't have patience and you force trades or you force investing,

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and you don't have that length of time that you

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had when you're in your twenties and thirties, because usually

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you have your money when you're in your fifties sixty seventies,

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you get scared when it turns the other way. So

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understanding mitigating risk. We have mitigated risk obviously, that's like insurance,

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and we want to lose on that. And we are

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losing on a mitigating risk right now because the markets

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are going higher. But the things that we stayed invested

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in that didn't have to sell and take tax and

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pay taxes are going higher or maintaining where they were.

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Very important. Understand mitigating risk just takes down your risk

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of your portfolio, allows the others to still make money.

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And you can make money by mitigating risk. But mitigating

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risk will or set losses if it goes down, and

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give you more cash if it goes down in order

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to go ahead and reinvest at a lower price. That

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mentality is what makes managing money effectively successful. Understanding markets

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go up and down, Understanding how to invest when the

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markets go up and down, how to mitigate risk, how

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to take money off the table, how to reduce your

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positions that are the most risky, ist how to do

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this within a best tax practice situation. So many people

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don't know what to do. They have these highly appreciated

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stocks that have made them two to three five hundred

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thousand million dollars and they just hold on to it,

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which is great, except if one day that stock gets hurt.

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We've all seen it, We've all been there. Okay, I

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won't talk about ed Ron, I won't talk about you know,

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uh those type stacks. But let's talk about Bear Stearns.

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Let's talk about Merrill Lynch, Let's talk about Bank America,

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all those stocks that were great stocks, paying dividends, Lehman Brothers.

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You know, you had never thought they would be out

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of business, and boom puff they got the one out

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of business.

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So be careful.

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It's allocations is what keeps you in the game. Allocations

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obviously how much you want to have an individual stock

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versus how much you want in ETFs ets or less

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risky than that individual stocks. Yes, you can make more

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on an individual stock if you catch it right, but

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you will lose more on an individual stock. And an

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individual stock can actually go down while the S and

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P while the index is going higher. So be careful

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on how you do it. So when when you look

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at this, why could the markets go down? Well, I'll

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tell you right, now it's because everyone knows markets go

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up and down. It the buying stops. And when there's

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no money flowing into mutual funds to buy, and you

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get some sell orders, people taking money off the table,

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then it goes down. Where would that happen. Probably won't

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happen in taxable accounts, but I can see it happening

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in the retirement accounts, the tax deferred accounts. I can

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see people taking some money off the table. To be

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careful about what's going on, because it's the prudent thing

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to do. It's hard to do because if you sell

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it and it goes higher, everyone's scratching their head, going, oh,

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what am I gonna do? What am I gonna do?

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Well?

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I do believe we're in a scenario that they're always surprises,

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and when the markets are this high, have moved up

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this fast, and you get a surprise, the downside comes quick.

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Hey let's someone up six thousand. We were down to

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fifty seven hundred pretty quickly. Understand that can happen very quickly.

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So the best way to do it is when the

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markets are higher, take a little off the table. If

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you got six hundred chairs, take off one hundred to

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two hundred chairs if you're if you're too much invested.

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You know, you were sixty percent, you're like being sixty

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percent inequities, and now it's up to sixty five seventy.

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Pull it back to sixty or even fifty five or fifty.

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Be a little bit more cautious. When we're at the

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levels that we're at, figure out a way to do it.

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If you have highly appreciated stock, you don't want to

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come out, there's ways to protect that stock without having

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to sell it. And that's the use of selling a

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call and buying a put and protecting it or just

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buying the put so you know, if it goes down,

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you're gonna do it. You're gonna buy insurance on that stock.

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That's as simple as I can make it. We do

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that for many people that are in that position. You know,

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they come to us and they got a quarter a million,

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three hundred thousand dollars in realize gains. They don't want

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to take that. So what we do is we p

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tech that stock and and and then we can sell

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it off. If it's still going higher and the options

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are losing us money, then great. That's how we'll sell

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off some of the stock, then into the losses and

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match them up. There's ways to do things. If you've

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been around this business long enough than we are. Remember

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what we do here is not just do financial planning, okay,

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which we do a fantastic job. Almost everybody wants to

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get that that financial plan that we give to them,

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and we don't charge them for doing it because it's

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very important to us as advisors to know the whole picture.

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How can we help you if we don't know the

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whole picture? You know, if you come to us and say, oh,

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I've got chess pain, Okay, we think we you know

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as a doctor, but you've got to go in and

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find out. But that chess pain could be coming from

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your your your hit, That chess pain could be coming

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from someplace else. What other things do you have going on?

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You have to find the whole picture because things are interconnected.

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It's no different when someone comes to us. We just

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don't manage the money. That's the that's the cherry on

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top of the whip cream at the end. It's the

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bottom line is that we're able to go ahead and

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know your whole picture so we know how to manage

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the money. How if you want to be aggressive, you're

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better not being using that money to be able to

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live on if you want to be aggressive. But if

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you already have enough income coming to you and doing

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the things you need, and you want to be aggressive,

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then we figure out how you want to be aggressive,

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what kind of quality do you want, how much risk

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do you want to take, and then we do it

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that way. But you know, you have to plan for

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social security, you have to plan for medicare, you have

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to plan for all these things, all right, and then

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you've got to plan for everything else that you're going

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to do in your life. When you're thirty and forty,

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you're planning differently than when you're fifty, and you're definitely

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planning differently when you're in sixty, seventy eighty years old.

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And the planning is what's so important. And we do

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that every day, and it's gotten better and better and better.

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And it's not just to sell insurance products like that's

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the way it was. For almost thirty years. I was

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in the business financial plans. So the insurance guy can

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go ahead and sell you insurance. And it's not just

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life insurance, it's all types of insurance products, annuities, or

233
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whatever it was. That's what they did to show you

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to do it. Our financial plans are actually setting you

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up on how much income can you take over period

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of time and be able to still sustain your net worth,

237
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your capital and even see some growth. Very important, very important.

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So as we move through week to week, day to day,

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you know, and get excited about Trump and his administration,

240
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obviously we start we keep hearing about these tariffs. That's

241
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the biggest thing, because you know, let's face it on that,

242
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you know, the biggest reason he won is because of pricing.

243
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Where the prices were, where people were, you know, they

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couldn't afford things well, and they're still kind of there.

245
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But the oil prices have been coming down a little bit.

246
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You know, you see some inflation coming down, but remember

247
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the inflation is coming down, but it's still inflation, you know.

248
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And if wages aren't increasing, they are not and corporations

249
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can't increase wages unless they're making money. So everyone's afraid

250
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that if he hits twenty five percent taxes on Mexico

251
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and Canada and China, you know, increasing go by ten percent,

252
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all the costs are going to go higher. Well, I'm

253
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not going to say that at some time in the

254
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beginning of doing it, if he did hit it right away,

255
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that sometime down the road to court, they don't go

256
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up a little bit higher. But no one's talking about

257
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the effect of the other side of it. The Mexican

258
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president the Canadian president both getting in touch and say, hey,

259
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let's work a deal here. We know you want terrorists,

260
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you know you want this, Let's work a deal. We

261
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know you want to shut the borders. If we shut

262
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the borders, I don't want you giving us these extra terrists.

263
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But in the meantime, it's not just about the borders.

264
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It's about the Chinese infiltrating Mexico and making them a

265
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richer country by doing and producing you know, goods there,

266
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and no one's seeing the bigger picture. I don't want

267
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China in Mexico. It's bad enough they're infiltrating us with

268
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the fentanyl, which we're gonna shut that down, okay, but

269
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I don't want them let them produce overseas. They stop

270
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producing in Mexico and flooding them with stuff. It's gonna

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and then then everyone's gonna want to go to Mexico

272
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to buy stuff, and then they're gonna make Mexico wealthy

273
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on the back of the Chinese, and then the right

274
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and our backyard don't want it. You think the Chinese

275
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are doing it out of the goodness of the heart.

276
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They don't do that. They're coming into Mexico, they're coming

277
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into Africa. They're taking up the raw materials, and that's

278
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how they want to take over the world. They want

279
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to be in charge of the things that everybody needs.

280
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We need to keep North America from Canada all the

281
00:14:56.639 --> 00:15:02.320
way down to Central America Chinese free. Okay, we need

282
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to keep them Chinese free. We do not need that.

283
00:15:06.039 --> 00:15:09.080
We need to be the ones helping Mexico get rich.

284
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We need to be the ones that are helping Mexico

285
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have the have the ability to to give us cheap

286
00:15:16.120 --> 00:15:18.879
labor to move into the United States. We have to

287
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have a compromise with them. Everything cannot just be built

288
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in the United States. It's not gonna happen. That's not capitalism,

289
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and it's certainly going to shut off. But why can't

290
00:15:28.120 --> 00:15:33.519
we use Mexico instead of China and all the Asia.

291
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It would be cheaper for all of us, even if

292
00:15:36.200 --> 00:15:39.200
it costs a little bit more On Mexico, And why

293
00:15:39.279 --> 00:15:42.840
what don't we want to make our border states as

294
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strong as possible on our backs so that way, if

295
00:15:47.720 --> 00:15:51.799
anything happens, we work together. It's the one thing we

296
00:15:51.919 --> 00:15:55.200
have is you got to come by air land. You

297
00:15:55.240 --> 00:15:57.120
can't come by land. You got to come by air

298
00:15:57.559 --> 00:16:03.000
or sea to attack us. Okay, it's not like a

299
00:16:03.039 --> 00:16:05.799
Russia situation in China where you can just move across

300
00:16:05.799 --> 00:16:08.840
the border and now you got Europe. All right, No,

301
00:16:09.120 --> 00:16:10.679
you can't do that with us. But if you all

302
00:16:10.720 --> 00:16:13.320
of a sudden in Mexico and you're loading into Mexico,

303
00:16:13.799 --> 00:16:16.360
it's a hell of a lot easier to attack us

304
00:16:16.360 --> 00:16:19.559
from Mexico than it is from China. So we need

305
00:16:19.559 --> 00:16:23.799
to be very, very very careful on how much we

306
00:16:23.919 --> 00:16:26.879
allow Mexico to have a relationship with China. And then

307
00:16:26.919 --> 00:16:29.519
you do and you know, if I had a bet,

308
00:16:30.000 --> 00:16:34.759
most of the Chinese relationships of Mexico are cartel related.

309
00:16:35.080 --> 00:16:37.000
I would love to see America make a deal with

310
00:16:37.080 --> 00:16:39.600
Mexico that we will send our people in with their

311
00:16:39.639 --> 00:16:44.240
help and clean out Mexico cartel. Wouldn't that be nice?

312
00:16:45.039 --> 00:16:47.080
That'd be nice to do it all around the world.

313
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But at least we can do it in our own backyard.

314
00:16:49.679 --> 00:16:52.120
Get rid of it. Let's work together. We've tried that,

315
00:16:52.200 --> 00:16:54.919
We've been working together for a long time. Let them

316
00:16:54.960 --> 00:16:57.200
shut down the border for us. Let us work a

317
00:16:57.279 --> 00:17:00.600
deal so it works across the board for every everybody.

318
00:17:01.080 --> 00:17:04.160
And it is going to be America first, and anyone

319
00:17:04.200 --> 00:17:06.839
that has a problem with America first, I have a

320
00:17:06.920 --> 00:17:11.000
problem with because you cannot be strong for the world

321
00:17:11.680 --> 00:17:14.880
if you're not strong for yourself. And that's a hard

322
00:17:14.960 --> 00:17:18.759
concept for socialists because they want more and more and more,

323
00:17:18.799 --> 00:17:21.319
but they're not strong enough themselves to help anybody out.

324
00:17:21.359 --> 00:17:24.440
They're always got their hand out wanting more for themselves.

325
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I do not want to go down and become a

326
00:17:26.720 --> 00:17:30.279
socialistic country. I want to stay the strongest economy in

327
00:17:30.319 --> 00:17:33.160
the world. I want to be ahead on technology. I

328
00:17:33.200 --> 00:17:36.119
want people having to use our dollar come to us

329
00:17:36.319 --> 00:17:39.920
because we are the sustainable country that moves forward. And

330
00:17:39.920 --> 00:17:42.400
we're going in that direction. And Trump is going to

331
00:17:42.480 --> 00:17:44.400
keep us in that direction, and we are going to

332
00:17:44.400 --> 00:17:47.039
be stronger. And I'm telling you we're going to see

333
00:17:47.680 --> 00:17:53.400
these wars probably start coming to a halt at least

334
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I'm not going to say to an end, but at

335
00:17:54.759 --> 00:17:58.319
least a halt as we see conversations going on. And

336
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the key to that is China. So we need to

337
00:18:02.240 --> 00:18:05.200
have a relationship with China where they stay in their

338
00:18:05.319 --> 00:18:08.319
area and we stay in ours. But they help us

339
00:18:08.640 --> 00:18:12.880
with Russia and Ukraine. They can they have a plan

340
00:18:12.960 --> 00:18:16.079
for ceasefire. It's just never been brought to the table.

341
00:18:16.799 --> 00:18:20.240
Let's see what's going on. Let's open it up. There's

342
00:18:20.279 --> 00:18:25.359
nothing wrong with being friends, not friends, acquaintances with these

343
00:18:25.440 --> 00:18:29.200
other countries to go ahead. They get some, we get some,

344
00:18:29.440 --> 00:18:32.160
but we always know where we're going. But if they

345
00:18:32.160 --> 00:18:38.000
can help stop these wars with Putin and then and

346
00:18:38.039 --> 00:18:40.160
then with and down and down in the Middle East

347
00:18:40.200 --> 00:18:43.039
and we start getting peace, piece is the first way

348
00:18:43.079 --> 00:18:46.480
we can start growing. And who's gonna make all the

349
00:18:46.519 --> 00:18:48.799
money in Ukraine when it's starting to get rebuilt up.

350
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Think about that. Who's gonna be the ones that are

351
00:18:51.799 --> 00:18:53.599
paying for it? I don't want to be the one

352
00:18:53.640 --> 00:18:55.839
paying for it. And other people getting the money better

353
00:18:55.839 --> 00:19:01.279
be American companies that will be better fitting from us

354
00:19:01.319 --> 00:19:04.920
when we rebuilding Ukraine. Now, is Ukraine gonna have to

355
00:19:04.920 --> 00:19:08.440
give up some? Probably? Do they want to know? Would

356
00:19:08.480 --> 00:19:11.119
I want to know? But if I can end the

357
00:19:11.119 --> 00:19:14.160
war and stop the killing, would I do something? Probably

358
00:19:14.960 --> 00:19:18.119
that's what compromises all about. But you're gonna have to

359
00:19:18.119 --> 00:19:22.200
make Putin feel like, you know, he he's not giving

360
00:19:22.279 --> 00:19:25.039
up too much, that he's winning. Ukraine's gonna have to

361
00:19:25.039 --> 00:19:27.960
feel like they're winning. And somehow, some way, they each

362
00:19:28.000 --> 00:19:30.240
got to get something. And when they do, we can

363
00:19:30.279 --> 00:19:32.200
see the end of the war there, see the end

364
00:19:32.200 --> 00:19:34.640
of the war in the Middle East, and stop growing

365
00:19:34.640 --> 00:19:37.720
this cut the world. We start doing that stuff. America

366
00:19:37.759 --> 00:19:40.920
is going to be strong again. It will be You're

367
00:19:40.960 --> 00:19:45.480
gonna see you're going to see the tax the Trump taxes.

368
00:19:45.880 --> 00:19:49.440
You're going to see them, obviously in some shape or form.

369
00:19:49.480 --> 00:19:51.720
If there's going to be any more increase or decrease

370
00:19:51.759 --> 00:19:55.680
in taxes, that's gonna be ratified. You're probably gonna see

371
00:19:55.880 --> 00:19:59.160
corporate tax come down a little bit, probably not fifteen percent,

372
00:19:59.240 --> 00:20:02.160
but maybe eighteen percent. That's what he wants. He wants

373
00:20:02.200 --> 00:20:06.000
corporations to be here and paying taxes to us. Maybe

374
00:20:06.039 --> 00:20:08.519
the way they pay taxes, maybe that needs to change

375
00:20:08.519 --> 00:20:11.000
a little bit so we actually don't see these billion

376
00:20:11.079 --> 00:20:15.599
dollar companies. Remember, it's always the tax code that makes

377
00:20:15.640 --> 00:20:20.039
the difference. The tax code. They don't cheat, well, most

378
00:20:20.079 --> 00:20:23.799
of them don't cheat on purpose. They have all these accountants,

379
00:20:24.000 --> 00:20:27.119
it's what the tax code allows them. Why only simplify

380
00:20:27.200 --> 00:20:29.839
all that, you know, I always have said that, simplified

381
00:20:29.920 --> 00:20:32.799
so everyone understands how much you got to pay in taxes.

382
00:20:33.640 --> 00:20:36.720
But you know, at the end of the day, it's

383
00:20:36.759 --> 00:20:41.839
about compromise, give it a little bit, taking a little bit,

384
00:20:42.319 --> 00:20:45.119
and moving forward. And I do think that in a

385
00:20:45.200 --> 00:20:47.000
year from now, we're going to feel a lot different

386
00:20:47.039 --> 00:20:49.519
than we do now. And I hopefully, I believe in

387
00:20:49.519 --> 00:20:52.319
my heart, is going to be very positive. I think

388
00:20:52.359 --> 00:20:54.640
we're going to see things that are done quicker than

389
00:20:54.680 --> 00:20:57.640
we've ever seen before. I think that that the red

390
00:20:57.680 --> 00:21:01.359
tape and regulations are going to help, and it's gonna

391
00:21:01.880 --> 00:21:07.440
incentitize companies to be able to invest money and go forward.

392
00:21:07.960 --> 00:21:09.880
You know, when I when I look at where we've

393
00:21:09.880 --> 00:21:12.799
been and what we're doing, and and and and and

394
00:21:12.839 --> 00:21:17.880
politically changes people's minds, but it really doesn't, because if

395
00:21:17.880 --> 00:21:19.960
you think about it, what has changed since Trump got

396
00:21:20.000 --> 00:21:22.839
into there, Nothing really has changed that much. Maybe he's

397
00:21:22.880 --> 00:21:25.319
gonna get a little bit more transparent and we're gonna

398
00:21:25.319 --> 00:21:28.559
see stuff everyone's worried about everything. It's so funny to

399
00:21:28.599 --> 00:21:31.680
me because you know, almost everyone agrees that we had

400
00:21:31.720 --> 00:21:35.559
to do something with the border. Okay, but now when

401
00:21:35.559 --> 00:21:38.839
it comes to uh deporting people and getting rid of

402
00:21:38.839 --> 00:21:41.400
the people that don't belong here because they're not illegally,

403
00:21:41.880 --> 00:21:43.759
then everyone's up in an uproar. Why I don't want

404
00:21:43.759 --> 00:21:46.319
them separating there? So separating that or there's a it's

405
00:21:46.359 --> 00:21:48.519
probably gonna happen on a little bit here and a

406
00:21:48.519 --> 00:21:51.480
little bit there. We won't know all the details, guys,

407
00:21:51.920 --> 00:21:53.960
but the news is gonna blow it up every time,

408
00:21:54.359 --> 00:21:56.000
you know it. They're gonna want them to look bad.

409
00:21:56.039 --> 00:21:58.519
But at the end of the day, they're gonna be

410
00:21:58.559 --> 00:22:01.359
working on the criminals and the people that are terrorists

411
00:22:01.400 --> 00:22:04.640
that don't belong in our country that are here. They're

412
00:22:04.640 --> 00:22:06.839
gonna go after the people that aren't going for their

413
00:22:07.640 --> 00:22:11.759
dates that are due, and they're gonna keep winding it down. Okay.

414
00:22:12.200 --> 00:22:14.759
I know people worried about people here five, ten, twenty

415
00:22:14.839 --> 00:22:17.680
years way before all this stuff is going on. I

416
00:22:17.720 --> 00:22:21.119
don't know what's gonna happen from there. We'll see, all right,

417
00:22:21.359 --> 00:22:23.400
I don't think that's what we're trying to do. We

418
00:22:23.519 --> 00:22:26.279
know there is a lot of great immigrants and people

419
00:22:26.279 --> 00:22:29.119
that are here illegally that are helping America grow and

420
00:22:29.200 --> 00:22:32.440
have jobs and paying taxes. We gotta look at it

421
00:22:32.640 --> 00:22:36.079
with common sense. They don't need to go, but if

422
00:22:36.119 --> 00:22:38.680
you do something wrong, you need to go. If you

423
00:22:38.720 --> 00:22:40.799
came in in the last three or four years, there's

424
00:22:40.799 --> 00:22:44.000
no reason why you should be here none. You've been

425
00:22:44.039 --> 00:22:48.519
here illegally. Okay, that's what we're talking about. And there's

426
00:22:48.599 --> 00:22:51.160
millions and millions of them that they have come in illegally.

427
00:22:51.359 --> 00:22:52.480
And I want to hear this all. How are you

428
00:22:52.480 --> 00:22:55.839
gonna feel the jobs and do this? We'll fill the jobs. Remember,

429
00:22:57.599 --> 00:23:04.160
people complain without solutions. People complain without change. You cannot

430
00:23:04.200 --> 00:23:07.960
move forward. You cannot be successful if you don't look

431
00:23:08.000 --> 00:23:11.039
at what you're doing and what's not working. Change it.

432
00:23:11.640 --> 00:23:14.400
If you don't change it, you're in the same old

433
00:23:14.480 --> 00:23:17.640
rut trying to make excuses. And that's how we look

434
00:23:17.640 --> 00:23:21.319
at what's happened over the last couple of years and

435
00:23:21.440 --> 00:23:25.599
what's going on. Excuses are for people that are mediocre.

436
00:23:26.319 --> 00:23:30.359
Change is for people that want to be great, do

437
00:23:30.519 --> 00:23:34.200
the things that matter. Yes there's risk involved, and yes

438
00:23:34.359 --> 00:23:36.720
not everything works, but at the end of the day,

439
00:23:36.759 --> 00:23:40.119
when you're changing and you're doing things different that gives

440
00:23:40.160 --> 00:23:43.440
you the ability to win. It's no different than what

441
00:23:43.519 --> 00:23:48.119
we did at Tucson High. We changed the mentality of

442
00:23:48.160 --> 00:23:52.480
the kids, We changed the mentality of the culture. We

443
00:23:52.759 --> 00:23:57.920
changed the relationship with the administration at Dylan and myself

444
00:23:58.000 --> 00:24:01.359
and all the other coaches, Zach laugh who's very close

445
00:24:01.400 --> 00:24:04.240
with the head coach. We went ahead and did stuff

446
00:24:04.279 --> 00:24:09.720
there that hasn't been done since nineteen seventy one. In

447
00:24:09.759 --> 00:24:12.759
a year and a half. Two years we took over

448
00:24:12.799 --> 00:24:14.960
the team. Last year, we went to the team. This year.

449
00:24:15.200 --> 00:24:17.319
We went from never there, never not being able to

450
00:24:17.359 --> 00:24:19.640
win more than seven games to winning nine, winning a

451
00:24:19.640 --> 00:24:24.319
playoff game at home because we changed the way things

452
00:24:24.319 --> 00:24:28.160
were done. You change things, you do things that historic,

453
00:24:28.559 --> 00:24:31.319
So expect that to happen in the next four years.

454
00:24:31.319 --> 00:24:34.079
We'll be back with everybody. Hope everyone's having a good Thanksgiving,

455
00:24:34.880 --> 00:24:40.160
and thank you for listening. Welcome back to everybody to

456
00:24:40.240 --> 00:24:45.240
our Thanksgiving version of the Moneybotty show Man. One month

457
00:24:45.240 --> 00:24:46.920
and now we're gonna be in twenty twenty five.

458
00:24:47.480 --> 00:24:51.160
Yes, who thought right? It's gone quick amazing.

459
00:24:51.480 --> 00:24:53.359
So many things have happened but it all led up

460
00:24:53.400 --> 00:24:54.240
to the election.

461
00:24:54.480 --> 00:24:56.640
You know who did think the calendar?

462
00:24:57.039 --> 00:25:02.160
Yes, indeed, oh, now the calendar is ai pretty much. Yeah,

463
00:25:03.799 --> 00:25:04.279
they think.

464
00:25:05.200 --> 00:25:07.960
Hey, the market served up a good week for us. Yeah,

465
00:25:08.000 --> 00:25:10.839
it was a good dish, new all time highs. Again.

466
00:25:12.160 --> 00:25:14.960
We've got everybody in the house. We've had the Greenberg

467
00:25:15.000 --> 00:25:17.680
boys in and out with their coaching, and we talked

468
00:25:17.680 --> 00:25:20.279
about it a little bit on the radio, and we

469
00:25:20.400 --> 00:25:23.160
want to congratulate them. You know, only one team wins

470
00:25:23.160 --> 00:25:27.160
their last game, and it wasn't you, but nine and three.

471
00:25:27.319 --> 00:25:30.839
Very impressive. And I got me thinking last year at

472
00:25:30.839 --> 00:25:33.720
one point you were one and five. Yes, so of

473
00:25:33.759 --> 00:25:37.039
the last sixteen games, you're thirteen and three, right, pretty

474
00:25:37.079 --> 00:25:38.880
darn good for a school that has no history of

475
00:25:39.359 --> 00:25:42.680
And you know why I got I have some thoughts

476
00:25:42.720 --> 00:25:43.000
on it.

477
00:25:43.039 --> 00:25:45.119
But we changed it. We changed what we were doing.

478
00:25:45.200 --> 00:25:47.039
I remember you were one and five. You called everybody

479
00:25:47.039 --> 00:25:48.519
in your office, closed the door and you were in

480
00:25:48.559 --> 00:25:50.640
there for like four hours and you came out and

481
00:25:50.680 --> 00:25:51.960
the rest of the history.

482
00:25:51.880 --> 00:25:55.680
You when things ongoing, right, you change it. I did.

483
00:25:55.759 --> 00:25:56.559
Yeah, I heard you.

484
00:25:56.599 --> 00:26:01.000
Because it's so people don't use that enough about changing things.

485
00:26:01.039 --> 00:26:02.920
Yeah, well, if the status quo wasn't working. You got

486
00:26:02.920 --> 00:26:04.519
to figure out something to change and how to make

487
00:26:04.559 --> 00:26:07.079
it better. Right, just keep doing what you're doing. But

488
00:26:07.200 --> 00:26:09.079
that's what was going on for fifty one years there.

489
00:26:09.119 --> 00:26:11.319
Well, people complain. You keep doing what you're doing, and

490
00:26:11.359 --> 00:26:12.200
you complain about it.

491
00:26:12.400 --> 00:26:13.720
Yeah, blah blah blah.

492
00:26:13.880 --> 00:26:17.599
When you change things and do something good results can happen.

493
00:26:17.799 --> 00:26:19.240
We'll congratulations.

494
00:26:19.559 --> 00:26:21.880
Yeah, we appreciate that. E thinkt and Zach Zach did

495
00:26:21.920 --> 00:26:23.240
a great job as his head culture.

496
00:26:23.599 --> 00:26:26.039
It's all culture like in general, not just on the field.

497
00:26:26.039 --> 00:26:29.759
I mean, the whole acultive GPA went up almost point

498
00:26:29.960 --> 00:26:31.359
six point seven.

499
00:26:31.799 --> 00:26:34.880
Really, yeah, we're three are three point twenty five is

500
00:26:34.920 --> 00:26:37.759
an overall GPA for our football teach.

501
00:26:37.720 --> 00:26:39.920
The kids how to be the kids are learning how

502
00:26:39.920 --> 00:26:40.640
to be winners.

503
00:26:40.880 --> 00:26:43.880
Yeah, well starts with that. We were very tough on.

504
00:26:43.960 --> 00:26:46.160
Off the field stuff. That's you got to change.

505
00:26:46.039 --> 00:26:47.720
Both in on the field and in the classroom.

506
00:26:47.799 --> 00:26:49.640
And we got rid of a couple of good players

507
00:26:49.680 --> 00:26:52.880
that were a problem off the field. They just couldn't

508
00:26:53.039 --> 00:26:54.559
you know what I mean. We didn't need that coming

509
00:26:54.599 --> 00:26:57.599
on to us. And it worked, and then our relationship

510
00:26:57.640 --> 00:27:00.759
with the administration got better and and and all. So

511
00:27:00.920 --> 00:27:02.599
there's one thing left we have to do. We have

512
00:27:02.640 --> 00:27:05.519
to change the culture of the parents. The parents don't

513
00:27:05.559 --> 00:27:08.839
understand because they haven't been in this position. They always

514
00:27:08.839 --> 00:27:10.720
want to see their kids do stuff and do things,

515
00:27:10.759 --> 00:27:13.839
but you know, they have to be involved. At soell Point,

516
00:27:13.880 --> 00:27:15.839
when Dylan was at South Point and they were whening,

517
00:27:15.839 --> 00:27:18.000
all the parents are involved. Whatever you need to get done.

518
00:27:18.200 --> 00:27:20.880
It wasn't ten percent of the parents. It was seventy

519
00:27:20.920 --> 00:27:22.720
five percent of the parents said what do I have

520
00:27:22.759 --> 00:27:24.759
to do to get it done? And they got it done.

521
00:27:24.960 --> 00:27:27.039
Here it's the opposite right now. We couldn't even get

522
00:27:27.160 --> 00:27:31.400
enough parents to do the snack bar during the playoffs. Okay,

523
00:27:31.480 --> 00:27:34.400
so we gave up like four thousand dollars during the playoffs. Yeah,

524
00:27:34.400 --> 00:27:36.240
and you got to get the lower level years. You

525
00:27:36.319 --> 00:27:38.519
have to get the lower level parents to be able

526
00:27:38.519 --> 00:27:40.799
to do that, okay. And they didn't want to do

527
00:27:40.880 --> 00:27:43.319
it because they have excuses. You know what I mean.

528
00:27:43.359 --> 00:27:44.480
I don't want to be that I got work, I

529
00:27:44.519 --> 00:27:47.240
got this. Okay, everyone's busy. But at the end of

530
00:27:47.240 --> 00:27:49.640
the day, if you want to be a consistent winner,

531
00:27:49.880 --> 00:27:52.960
you got to change the program culture from the parents down.

532
00:27:52.960 --> 00:27:55.839
We change the culture of the kids. You change the

533
00:27:55.839 --> 00:27:59.200
culture of the of the administration, the relationship of it.

534
00:27:59.559 --> 00:28:01.599
And now you got to go get the now. Don't

535
00:28:01.599 --> 00:28:05.160
get me wrong. The Booster club and what twenty of

536
00:28:05.160 --> 00:28:09.920
those parents they do everything, everything, dave everything, and that's

537
00:28:10.079 --> 00:28:12.440
unfair when you have a hundred families.

538
00:28:12.680 --> 00:28:14.960
Yeah, it's an amazing turnaround, and so much so that

539
00:28:15.000 --> 00:28:18.319
it made the evening news though it was it was

540
00:28:18.359 --> 00:28:20.079
so historic that it made the news.

541
00:28:20.359 --> 00:28:22.039
Well, the cool thing is is when you were playing

542
00:28:22.039 --> 00:28:26.319
the Phoenix teams, they were they were so impressed. Ago,

543
00:28:26.400 --> 00:28:28.359
I can't believe you guys did this in two years,

544
00:28:28.640 --> 00:28:30.440
he says. Two Son High used to be a threat.

545
00:28:31.000 --> 00:28:33.160
No one even knows about him. Everyone loved playing them.

546
00:28:33.519 --> 00:28:35.759
Nobody was tough, nobody was there, you know.

547
00:28:35.759 --> 00:28:36.119
What I mean.

548
00:28:36.240 --> 00:28:39.279
And and now you guys change it just quickly, which

549
00:28:39.640 --> 00:28:42.319
is unbelievable in this in this environment.

550
00:28:42.559 --> 00:28:44.920
And we're proud of you. There's a great, great deal

551
00:28:44.920 --> 00:28:47.559
and it's speaking of great how about this market, it's unbelievable, Dean.

552
00:28:47.599 --> 00:28:51.240
You and I both getting a little uncomfortable. Yeah, well,

553
00:28:51.279 --> 00:28:54.599
stretched out stretched out a little bit much here. Generally,

554
00:28:54.599 --> 00:28:56.599
when you get more than ten percent above the two

555
00:28:56.680 --> 00:28:59.039
hundred day movie and average, you're gonna have a pullback,

556
00:28:59.400 --> 00:28:59.880
and I'm not.

557
00:29:00.279 --> 00:29:01.119
So far are we? Now?

558
00:29:01.319 --> 00:29:03.799
Huh? How far are we by the twenty twenty six Yeah? Yeah,

559
00:29:03.839 --> 00:29:06.440
ten point six. It got to twelve in July before

560
00:29:06.440 --> 00:29:07.839
a ten percent correction.

561
00:29:08.519 --> 00:29:09.920
So you never know it's going to be a crash.

562
00:29:09.960 --> 00:29:12.480
You can't talk about a crash because something has to

563
00:29:12.519 --> 00:29:15.359
happen that we don't know, no crash to happen, Okay.

564
00:29:15.519 --> 00:29:18.799
But we can talk about is the elevation of the

565
00:29:18.839 --> 00:29:22.400
markets of where they are and the underpinnings of the market,

566
00:29:22.640 --> 00:29:25.720
so if something happens, it can go down a lot

567
00:29:25.759 --> 00:29:28.400
more than normal. Like if we were, say, if we

568
00:29:28.440 --> 00:29:31.480
were at five thousand right now and something happened, it

569
00:29:31.480 --> 00:29:34.160
wouldn't be as bad as we are when we're sixty

570
00:29:34.799 --> 00:29:37.960
six thousand on the SMP Yeah okay. And that's the

571
00:29:38.039 --> 00:29:40.960
difference is you don't have the supporting cast underneath it

572
00:29:41.039 --> 00:29:43.640
because all these stocks are so high. Think about two

573
00:29:43.720 --> 00:29:47.480
years ago, twenty twenty two, going into December. Whoever thought

574
00:29:47.720 --> 00:29:50.400
we would see Amazon at seventy five? You would see

575
00:29:50.559 --> 00:29:55.519
the video the video went down to what one ten? Okay. Granted, guys,

576
00:29:55.680 --> 00:29:58.799
I know it's one thirty eight. They split ten to one.

577
00:29:58.920 --> 00:30:01.680
Yeah, so that'd be like going from one thousands or

578
00:30:01.799 --> 00:30:03.519
from one thirty eight to like fifty.

579
00:30:04.279 --> 00:30:07.279
Yeah, it's absolutely maybe. I think that the big item

580
00:30:07.319 --> 00:30:11.880
this week, probably the most significant story was the Treasury Secretary,

581
00:30:12.359 --> 00:30:16.119
and that was a huge story with scottent I think

582
00:30:16.200 --> 00:30:19.640
is the way you pronounced it name Treasury secretary, the

583
00:30:19.640 --> 00:30:24.759
founder of the Keysquare Fund, a lot of money management background,

584
00:30:24.759 --> 00:30:28.119
friendly to the market. But what I took away from it,

585
00:30:28.440 --> 00:30:30.519
for the most part, was that they believe he can

586
00:30:30.640 --> 00:30:36.000
mitigate some of Trump's more radical thinking. That was as

587
00:30:36.039 --> 00:30:37.079
far as trade goes.

588
00:30:37.920 --> 00:30:41.559
I'd appreciate it if you stopped putting the word Trump

589
00:30:41.799 --> 00:30:44.559
with the same stuff that the liberals talk about. Okay,

590
00:30:44.759 --> 00:30:48.599
because he's not radical, no no changes. You say radical,

591
00:30:48.920 --> 00:30:52.920
you think that he's a crazy white guy, He's not. Okay, Okay,

592
00:30:53.000 --> 00:30:54.279
So let's get on the same paper.

593
00:30:54.359 --> 00:30:56.720
What word would you like me to use to describe

594
00:30:57.240 --> 00:30:59.240
ideas that are a little bit outside.

595
00:30:58.880 --> 00:31:01.720
The box, controverse policies, ideas?

596
00:31:01.759 --> 00:31:04.920
Okay, that's exactly what they are. The ideas to throw

597
00:31:04.960 --> 00:31:07.599
out there that are outside the box. That's why he's

598
00:31:07.599 --> 00:31:10.079
as successful as he's been in his life because you

599
00:31:10.119 --> 00:31:12.640
come up with things and then you listen to people

600
00:31:12.680 --> 00:31:14.640
and you kind of change it until it gets there.

601
00:31:14.960 --> 00:31:18.119
It wasn't. It wasn't a derogatory remark.

602
00:31:18.240 --> 00:31:19.160
Well it comes across that way.

603
00:31:19.200 --> 00:31:20.799
Oh I'm sorry about that, because that's not how.

604
00:31:21.480 --> 00:31:23.240
I know it was me. I know you didn't vote

605
00:31:23.279 --> 00:31:24.279
for Trump, but that's okay.

606
00:31:24.440 --> 00:31:29.279
I voted for I couldn't get two years ago you

607
00:31:29.319 --> 00:31:30.880
were not. I voted for Trump, but.

608
00:31:30.920 --> 00:31:33.079
It came around though. It's interesting.

609
00:31:33.160 --> 00:31:35.240
Well, you had a choice and you had to make

610
00:31:35.279 --> 00:31:38.279
it right, and I think it was probably one of

611
00:31:38.319 --> 00:31:41.160
the more interesting choices in history. But you know, you

612
00:31:41.240 --> 00:31:43.079
make the choice and you say, well, do I want

613
00:31:43.400 --> 00:31:46.160
this guy or do I want her? You know, and

614
00:31:46.200 --> 00:31:49.880
it's got nothing to do with her her sex at all.

615
00:31:50.279 --> 00:31:52.400
I think that one of the things we haven't tried

616
00:31:52.799 --> 00:31:55.480
is a female president. I'd love to try a female president,

617
00:31:55.799 --> 00:32:00.000
just not her and not Hillary. She will come home.

618
00:32:00.319 --> 00:32:02.359
Someone will come along who will be a good candidate.

619
00:32:02.400 --> 00:32:04.799
You know, it is Thanksgiving weekend. There ought to be

620
00:32:04.880 --> 00:32:07.680
some Thanksgiving fun facts right to go with it. We

621
00:32:07.759 --> 00:32:10.839
got to think about Thanksgiving. I fun facts, No Dean,

622
00:32:11.079 --> 00:32:13.680
no fun facts. Tell me you will be got in

623
00:32:13.720 --> 00:32:15.960
the air like, oh, brother, here you go, just tell me.

624
00:32:16.039 --> 00:32:16.759
I like fun facts.

625
00:32:16.799 --> 00:32:20.359
Well, you know, the first Thanksgiving was sometime late fourteen hundred,

626
00:32:20.440 --> 00:32:23.000
early fifteen hundreds of the pilgrims in the Indians, right,

627
00:32:23.319 --> 00:32:26.559
that was actually the first Thanksgiving. When was the first

628
00:32:26.680 --> 00:32:28.960
official Thanksgiving in the United States?

629
00:32:29.119 --> 00:32:30.880
Nineteen forty two?

630
00:32:31.079 --> 00:32:32.000
Not even close.

631
00:32:33.240 --> 00:32:35.599
They made it the consistent date of the fourth Thursday.

632
00:32:36.039 --> 00:32:37.759
It was nineteen forty two. Was the first year that

633
00:32:37.799 --> 00:32:38.359
became a thing.

634
00:32:38.759 --> 00:32:42.039
Thanks the fourth Thursday.

635
00:32:41.680 --> 00:32:44.400
When they made it like Congress made it like the

636
00:32:44.640 --> 00:32:47.039
federal holiday where it's always going to be the fourth Thursday.

637
00:32:47.119 --> 00:32:48.519
Oh, maybe making it a federal holiday.

638
00:32:48.559 --> 00:32:50.839
Now, I was nineteen forty two. So every year since

639
00:32:50.839 --> 00:32:52.319
it's been the fourth Thursday.

640
00:32:51.960 --> 00:32:57.559
Of the Abraham Lincoln declared the very first Thanksgiving on

641
00:32:57.640 --> 00:33:01.640
October third of eighteen sixty three. And I don't he

642
00:33:01.759 --> 00:33:05.160
must not have said the fourth Thursday. That was Congress

643
00:33:05.160 --> 00:33:08.599
in forty two. What you're thinking, huh, So you're saying

644
00:33:08.680 --> 00:33:12.440
Congress in nineteen forty two made it decided it would be.

645
00:33:12.480 --> 00:33:15.599
The same day, maybe the same Thursday. Yeah, no, they

646
00:33:15.599 --> 00:33:17.599
made it the same Thursday. Every year is what they did.

647
00:33:18.599 --> 00:33:20.720
And then nineteen oh one they decided to have football

648
00:33:20.759 --> 00:33:25.079
on Thanksgiving and that is the good. They didn't have TV's,

649
00:33:25.119 --> 00:33:26.200
but they said football.

650
00:33:26.319 --> 00:33:28.240
It would be nice if they could find some more

651
00:33:28.359 --> 00:33:31.799
compelling games. Though. I looked at the schedule and it really.

652
00:33:31.839 --> 00:33:33.200
Well, they boys gotta have kid.

653
00:33:33.400 --> 00:33:36.279
At the beginning of the year, Chicago and the Lions

654
00:33:36.279 --> 00:33:37.119
looked like a great game.

655
00:33:37.160 --> 00:33:39.039
Maybe it was actually the best game. I mean, you

656
00:33:39.079 --> 00:33:41.279
thought the Packers and the Dolphins would have been a

657
00:33:41.279 --> 00:33:41.880
good game.

658
00:33:41.839 --> 00:33:44.000
That would have been as better than the other two

659
00:33:44.039 --> 00:33:46.000
because the other two featured the two worst teams in

660
00:33:46.000 --> 00:33:46.599
the NFL. Yeah.

661
00:33:46.599 --> 00:33:47.960
I don't think they thought the cow We're going to

662
00:33:48.000 --> 00:33:50.880
have the Cowboys. Cowboys anyway, but you have the Cowboys.

663
00:33:50.920 --> 00:33:52.640
I don't think they you gotta have the Cowboys, right,

664
00:33:52.720 --> 00:33:53.119
you got.

665
00:33:53.319 --> 00:33:54.400
And you always have the Lions.

666
00:33:54.559 --> 00:33:55.680
I always growing up.

667
00:33:55.640 --> 00:33:58.640
It was always the Cowboys in the Indians, the Redskins,

668
00:33:58.920 --> 00:34:05.839
Redskins and the Cowboys, Cowboys, the Riskins. It was it

669
00:34:05.880 --> 00:34:09.880
was like the game, right, but it's.

670
00:34:09.800 --> 00:34:12.320
Always been It's always been the Lions and it's always

671
00:34:12.320 --> 00:34:15.239
been the Cowboys. They always have host on Thanksgiving.

672
00:34:15.400 --> 00:34:17.760
Makes sense that they got Green Bay now too. It's

673
00:34:17.840 --> 00:34:19.159
like all American football.

674
00:34:19.239 --> 00:34:20.960
Yeah, they changed.

675
00:34:22.679 --> 00:34:23.760
To Hope. They have them.

676
00:34:24.559 --> 00:34:26.320
They have the Chargers a couple of years ago. They

677
00:34:26.320 --> 00:34:27.679
go over the place they changed.

678
00:34:27.800 --> 00:34:31.199
You know, it's cool game they change. Yeah, the third game,

679
00:34:31.239 --> 00:34:32.679
not Cowboys and the Lions.

680
00:34:33.079 --> 00:34:36.440
The Cowboys opponent they'll change, of course, always.

681
00:34:36.320 --> 00:34:40.239
An the Lions opponent they change. But the Cowboys Giants

682
00:34:40.440 --> 00:34:43.000
in a great rival until they both saw down.

683
00:34:43.119 --> 00:34:45.280
And the hard knocks. This year is going to be

684
00:34:45.280 --> 00:34:48.000
good with four different teams, the whole AFC North, that's

685
00:34:48.039 --> 00:34:48.880
going to be interesting.

686
00:34:48.960 --> 00:34:51.920
We'll see what's the primary activity on Thanksgiving?

687
00:34:52.320 --> 00:34:53.960
Eating football and.

688
00:34:54.320 --> 00:34:57.039
Absolutely eating without a doubt. Football is so far behind

689
00:34:57.079 --> 00:35:00.599
eating that not even on the same page. They like football,

690
00:35:00.599 --> 00:35:02.800
but there's a lot of people don't watch football. Can

691
00:35:02.800 --> 00:35:07.639
you imagine getting your Thanksgiving meal without a shopping cart,

692
00:35:08.639 --> 00:35:12.760
because that's what people did until nineteen thirty seven when

693
00:35:12.840 --> 00:35:15.079
Nathan Goldman Dean Nathan Goldman.

694
00:35:15.960 --> 00:35:19.039
Okay, you were your Thanksgiving dinner in a shopping cart?

695
00:35:19.119 --> 00:35:22.360
No, no, no, no, he invented the shopping cart.

696
00:35:22.440 --> 00:35:24.239
I mean you didn't go shopping to go get the

697
00:35:24.519 --> 00:35:26.800
Thanksgiving dinner. You came home here in the bag.

698
00:35:27.159 --> 00:35:29.880
Yeah, but can you imagine if, because up until nineteen

699
00:35:29.920 --> 00:35:32.199
thirty seven, what you could take out of the grocery charge,

700
00:35:32.239 --> 00:35:35.000
what you could carry. Yeah, and then the shopping car

701
00:35:35.079 --> 00:35:37.039
came on. What a different Thanksgiving would be if you

702
00:35:37.039 --> 00:35:38.400
didn't have a shopping cart?

703
00:35:38.800 --> 00:35:41.000
Well, how much how skinny we would be if we

704
00:35:41.000 --> 00:35:41.960
didn't have shopping carts?

705
00:35:42.960 --> 00:35:44.719
There is that. You know. My seven year old grandson

706
00:35:44.760 --> 00:35:46.519
at dinner, he came up with a good Thanksgiving one.

707
00:35:46.599 --> 00:35:49.079
He said, why did the turkey cross the road twice?

708
00:35:50.079 --> 00:35:51.840
Why so he wouldn't be chicken?

709
00:35:53.159 --> 00:35:56.679
There we go, fun facts.

710
00:35:56.960 --> 00:35:58.880
You know that's a seven year old, right, That's the

711
00:35:58.920 --> 00:36:03.320
kind of stuff that happens at Thanksgiving dinner. We'll be

712
00:36:03.440 --> 00:36:05.599
right back after this break with more of the Money

713
00:36:05.639 --> 00:36:06.119
Matter Show.

714
00:36:07.360 --> 00:36:11.599
Welcome back, everybody. This is the Thanksgiving session of the

715
00:36:11.639 --> 00:36:12.400
Moneymatter Show.

716
00:36:12.800 --> 00:36:14.519
I had a client tell me a great story. You

717
00:36:14.519 --> 00:36:16.920
want to hear a great Thanksgiving story, kind of warm

718
00:36:16.920 --> 00:36:19.519
your heart type of story on Thanksgiving weekend?

719
00:36:19.840 --> 00:36:20.159
I can't.

720
00:36:23.480 --> 00:36:31.840
I'm missed a Yeah, well, Todd has no heart, so

721
00:36:31.840 --> 00:36:34.719
it's kind of hard to warm his heart. Right.

722
00:36:35.440 --> 00:36:36.960
Hey, you guys, really go out it. I've been gone

723
00:36:36.960 --> 00:36:40.719
from the radio for a while. Nicer to each other.

724
00:36:41.079 --> 00:36:43.559
They're going at it constantly. This is a client of

725
00:36:43.559 --> 00:36:45.840
ours is now in his eighties, and when he was

726
00:36:45.840 --> 00:36:49.760
a kid. One Thanksgiving he was messing around with his

727
00:36:49.800 --> 00:36:53.599
siblings and mom was trying to get Thanksgiving dinner ready,

728
00:36:53.960 --> 00:36:56.800
and she said, would you get to her husband, get

729
00:36:56.800 --> 00:36:59.880
these kids out of here. I need some piece of quiet.

730
00:37:00.280 --> 00:37:02.079
So he took the kids down to his office and

731
00:37:02.199 --> 00:37:03.960
that's kids played down to Delfs for a while, and

732
00:37:03.960 --> 00:37:06.760
of course they inevitably got hungry, and so they went

733
00:37:06.800 --> 00:37:08.960
out to get some deep well and Thanksgiving there isn't

734
00:37:09.000 --> 00:37:11.559
a lot open. This is in Ohio. There isn't a

735
00:37:11.599 --> 00:37:15.119
lot open in Tucson or Ohio. But they came upon

736
00:37:15.199 --> 00:37:18.480
a white castle and the white Castle was open. So

737
00:37:18.519 --> 00:37:20.360
they went into the white Castle. And in the white

738
00:37:20.360 --> 00:37:25.480
Castle were three homeless people who were paying for their

739
00:37:25.519 --> 00:37:30.360
White Castle burgers with change pocket change they had, and

740
00:37:31.199 --> 00:37:34.239
as a lesson in what Thanksgiving is all about, the

741
00:37:34.400 --> 00:37:37.039
dad decided to buy each of them a full bag

742
00:37:37.920 --> 00:37:41.400
of White Castle sliders. So they bought them a whole bag.

743
00:37:41.480 --> 00:37:43.960
The cool part of this story is Schedus in his eighties.

744
00:37:44.639 --> 00:37:50.440
Since that day, every Thanksgiving Mourning, the entire family has

745
00:37:50.679 --> 00:37:54.840
white Castle sliders every single Thanksgiving morning in memory of

746
00:37:54.840 --> 00:37:58.119
that day. And he said, we don't have white Castle

747
00:37:58.159 --> 00:38:00.679
in Tucson. He said, but you can buy frozen white

748
00:38:00.719 --> 00:38:03.199
Castle burgers. And he said, I've got a dozen of

749
00:38:03.199 --> 00:38:04.719
them in the freezer. We're going to pull them out

750
00:38:04.719 --> 00:38:08.320
on Thanksgiving morning and have some sliders as a reminder

751
00:38:08.719 --> 00:38:10.000
of what Thanksgiving is all about.

752
00:38:10.119 --> 00:38:12.679
Have you ever had white Castle? At what time in

753
00:38:12.679 --> 00:38:13.079
the morning?

754
00:38:13.639 --> 00:38:15.280
Uh, six thirty seven?

755
00:38:16.559 --> 00:38:21.199
I met like two am or one am. Yeah, you

756
00:38:21.199 --> 00:38:22.039
never had white Castle?

757
00:38:22.960 --> 00:38:24.400
No sounds disgusting.

758
00:38:25.079 --> 00:38:27.039
Well, we used to do it in college. You go

759
00:38:27.079 --> 00:38:29.760
there because it was they were cheap, But after eating

760
00:38:29.800 --> 00:38:30.559
forty of them.

761
00:38:31.039 --> 00:38:32.880
It was like, yeah, it's like little tiny sliders.

762
00:38:32.880 --> 00:38:36.280
Oh it's two bites and like the cheapest little meeting

763
00:38:36.280 --> 00:38:38.960
in it, but you still have contexts how many kid people?

764
00:38:39.920 --> 00:38:41.440
And then you felt like crap the next day.

765
00:38:41.559 --> 00:38:43.599
I've said before that when I was in uh in

766
00:38:44.079 --> 00:38:45.920
high school, I was a page in the Senate out

767
00:38:45.960 --> 00:38:48.199
in South Dakota and they had a McDonald's out there

768
00:38:48.199 --> 00:38:50.559
and I'd never seen a McDonald's and they were selling

769
00:38:50.599 --> 00:38:54.320
members ten for a dollar, and that was I believe me.

770
00:38:54.320 --> 00:38:58.880
I bought ten of those. Often it's survival, right white

771
00:38:58.920 --> 00:38:59.480
Castle say.

772
00:38:59.519 --> 00:39:01.800
It's amazing. You could have taken five of those burgers

773
00:39:01.800 --> 00:39:03.760
and put them on one. Yeah, and that way you

774
00:39:03.840 --> 00:39:05.519
didn't have to have all the bread and it would

775
00:39:05.519 --> 00:39:08.159
be like an equal to like maybe a burger.

776
00:39:07.880 --> 00:39:09.760
Except I think the breads will make it. You can't

777
00:39:09.800 --> 00:39:10.239
be alive.

778
00:39:12.760 --> 00:39:14.320
We're still thinking about Thanksgiving food.

779
00:39:14.360 --> 00:39:16.639
And listen to us, we all talking about food.

780
00:39:16.679 --> 00:39:18.840
Is still well it is a Thanksgiving weekend. What it's

781
00:39:18.920 --> 00:39:20.239
the primary thing people think?

782
00:39:20.280 --> 00:39:21.599
Do you have turkey and ham?

783
00:39:21.679 --> 00:39:23.159
Turkey and hand ham both?

784
00:39:23.239 --> 00:39:23.480
Yeah?

785
00:39:23.519 --> 00:39:26.199
I don't think I've ever had turkey and ham. Oh

786
00:39:26.239 --> 00:39:29.119
you're kidding me. No, No, do you not have ham?

787
00:39:29.280 --> 00:39:31.599
One of the most people just have turkey?

788
00:39:32.079 --> 00:39:32.840
Yeah, never.

789
00:39:33.239 --> 00:39:35.840
I always had both every time I've been out of

790
00:39:35.840 --> 00:39:36.440
Thanksgiving and.

791
00:39:36.880 --> 00:39:40.039
For Christmas, never gone anywhere. Maybe the Jews have it

792
00:39:40.079 --> 00:39:43.239
for uh and they had both. Yeah, for Thanksgiving, because

793
00:39:43.239 --> 00:39:44.800
we have both every year I've been alive.

794
00:39:44.960 --> 00:39:46.320
Now we have Chinese food tonight.

795
00:39:46.719 --> 00:39:48.519
Oh yeah, yeah, because that's tradition. Right.

796
00:39:48.559 --> 00:39:51.320
Well, Mell's friend came in for California. He's from China,

797
00:39:51.360 --> 00:39:53.760
so he every Friday he makes us Chinese food.

798
00:39:53.960 --> 00:39:55.199
No Chinese food.

799
00:39:56.360 --> 00:39:58.280
No, no, we're not going to kwangmin or whatever the

800
00:39:58.320 --> 00:39:59.679
place is Golden Dragon.

801
00:40:00.119 --> 00:40:02.880
Well, isn't that one of the few restaurants open on thanks.

802
00:40:02.880 --> 00:40:07.440
That's why that is the thing for Jewish people on Christmas,

803
00:40:08.480 --> 00:40:10.400
the Chinese restaurants like the only one.

804
00:40:10.559 --> 00:40:14.880
Yes, but having your own guy Coca real Chinese food.

805
00:40:15.280 --> 00:40:16.920
I can't eat it. Well, I can't eat to eel

806
00:40:17.000 --> 00:40:20.920
and stuff. But everybody else, I mean, give me the dumplings.

807
00:40:21.000 --> 00:40:23.079
We'll get back to the market. The biggest economic report

808
00:40:23.119 --> 00:40:27.440
this week was the PCEE Personal Consumption Expenditure Index, the

809
00:40:27.519 --> 00:40:31.039
Fed's favorite measure of inflation, up two tenths of a

810
00:40:31.119 --> 00:40:35.320
percent from September to October two point three percent year

811
00:40:35.360 --> 00:40:38.039
over year, versus two point one percent that was expected.

812
00:40:38.360 --> 00:40:42.159
But inflation is creeping higher. Gold Ma Sachs put an

813
00:40:42.199 --> 00:40:47.840
interesting study out last week. For every ten percent of tariffs,

814
00:40:48.280 --> 00:40:52.920
you get a point one percent increase in inflation every

815
00:40:52.960 --> 00:40:55.280
ten percent. So that's interesting.

816
00:40:55.360 --> 00:40:57.960
It makes sense. I mean, on a short term basis,

817
00:40:58.000 --> 00:41:00.360
there's no way to get around supply chain. I mean,

818
00:41:00.360 --> 00:41:02.280
if you put a tariff on it, there's going to

819
00:41:02.320 --> 00:41:03.320
be an increase of price.

820
00:41:03.400 --> 00:41:05.480
Somebody has to pay that exactly. Somebody has to.

821
00:41:05.679 --> 00:41:07.840
That does go to the consumer, but everyone thinks it

822
00:41:07.880 --> 00:41:10.920
goes up twenty five percent. Oh yeah, No, everyone thinks

823
00:41:10.960 --> 00:41:13.000
if you have something that you pay one hundred dollars for,

824
00:41:13.039 --> 00:41:15.440
you're not going to pay one hundred and twenty five dollars.

825
00:41:15.760 --> 00:41:17.599
That's not what it is. And that's what they believe.

826
00:41:17.880 --> 00:41:19.800
You pay one hundred dollars, you might pay one hundred

827
00:41:19.840 --> 00:41:21.360
and one and a half for it.

828
00:41:21.480 --> 00:41:24.320
Yeah, like they said, it's a point one so it's

829
00:41:24.360 --> 00:41:27.199
not huge, but on the margins it does increase it.

830
00:41:27.280 --> 00:41:29.039
So on the whole, it comes out.

831
00:41:28.960 --> 00:41:30.679
And they're going to come up with technology and they're

832
00:41:30.679 --> 00:41:33.320
going to come up ways companies to keep course where

833
00:41:33.360 --> 00:41:34.119
they off for a while.

834
00:41:34.480 --> 00:41:36.800
Yeah, And there's there's all saying. You know, you say

835
00:41:36.840 --> 00:41:39.800
something often enough and long enough, people start to believe

836
00:41:39.840 --> 00:41:40.480
it as facts.

837
00:41:40.559 --> 00:41:41.119
They don't know.

838
00:41:41.320 --> 00:41:45.360
I know, but yesterday at dinner Thanksgiving dinner, they're actually

839
00:41:45.400 --> 00:41:49.079
talking about whether not Trumpell cuts Social Security.

840
00:41:49.159 --> 00:41:49.519
Right.

841
00:41:50.320 --> 00:41:53.119
I was saying that the people at the dinner and.

842
00:41:53.079 --> 00:41:55.000
So I've heard that from somebody else to like you said,

843
00:41:55.039 --> 00:41:56.920
that's from somebody else, you heard it, and it's where

844
00:41:56.960 --> 00:41:59.760
does that get hurt from clients that I'm just saying

845
00:42:00.079 --> 00:42:02.280
all that he's talked about for social Security is not

846
00:42:02.400 --> 00:42:02.880
taxing it.

847
00:42:03.000 --> 00:42:04.960
No, exactly, you can make it better.

848
00:42:06.440 --> 00:42:09.559
The only way social Security gets cut is what happens

849
00:42:09.599 --> 00:42:11.920
in Greece and Spain. Yeah, we do not have enough

850
00:42:11.960 --> 00:42:15.480
money to pay out everybody else because everyone else's tapped out.

851
00:42:15.559 --> 00:42:17.599
Yeah, and they're just trying to somebody's trying to blame

852
00:42:17.639 --> 00:42:19.079
Trunk because he's going to be the next president, And

853
00:42:19.079 --> 00:42:21.320
it's every president in the last few years that have

854
00:42:21.480 --> 00:42:23.119
just kicked the can down the road. And that's why

855
00:42:23.119 --> 00:42:24.679
they keep saying it's going to be insolved by twenty

856
00:42:24.719 --> 00:42:26.960
thirty five. Next president is going to just keep trying

857
00:42:27.000 --> 00:42:28.400
to push it to the next guy, so they're to

858
00:42:28.440 --> 00:42:29.239
blame and not them.

859
00:42:29.480 --> 00:42:31.840
I guarantee you what he is going to talk about

860
00:42:32.159 --> 00:42:35.039
when they're reducing the government that if we don't do this,

861
00:42:35.599 --> 00:42:38.119
social Security is going to have a problem. He will

862
00:42:38.159 --> 00:42:41.840
say that, Okay, but if we can cut two trillion

863
00:42:41.880 --> 00:42:45.280
dollars out of the budget year after year and get

864
00:42:45.360 --> 00:42:47.199
rid of the fat and getting the right people and

865
00:42:47.280 --> 00:42:49.320
do to things and run it like a business, which

866
00:42:49.400 --> 00:42:53.519
everyone here has said forever, run the government like a business,

867
00:42:54.119 --> 00:42:55.119
will be in great shape.

868
00:42:55.239 --> 00:42:57.840
Right because you're talking about cutting one third of the

869
00:42:58.000 --> 00:43:01.559
entire federal budget. That's never going to happen, Dane, I believe.

870
00:43:01.239 --> 00:43:03.119
It's well, I believe it over to you.

871
00:43:03.639 --> 00:43:04.599
I do budget.

872
00:43:04.639 --> 00:43:07.079
I do, Dave. I think there's that much fat in

873
00:43:07.119 --> 00:43:10.400
there and that much lousy spending, because what we do

874
00:43:11.360 --> 00:43:14.199
is tell them, if you go ahead and don't spend

875
00:43:14.199 --> 00:43:16.639
the money, we will never increase your budget.

876
00:43:17.320 --> 00:43:20.119
But I don't remember what what percentage of that budget

877
00:43:20.159 --> 00:43:22.159
is entitlement programs, but it's pretty large.

878
00:43:23.159 --> 00:43:24.639
Some entitlements might go away.

879
00:43:25.239 --> 00:43:29.400
There's there's a lot of fat. It will hurt people

880
00:43:29.480 --> 00:43:31.599
if you all of a sudden take it away.

881
00:43:31.880 --> 00:43:33.320
It will There's gonna.

882
00:43:33.079 --> 00:43:34.920
Will a lot of run and guess what, maybe you

883
00:43:34.920 --> 00:43:37.760
go get a job. No are the ones that need help,

884
00:43:39.119 --> 00:43:42.119
you get people on disability, the people that need the stuff.

885
00:43:44.559 --> 00:43:47.079
No matter what happens, no matter if it succeeds, half

886
00:43:47.079 --> 00:43:50.760
the country is still gonna blame him for I lost

887
00:43:50.800 --> 00:43:53.440
my government job because you cut the government. Oh yeah,

888
00:43:53.599 --> 00:43:57.079
you know, I there's gonna be a lot of different stuff.

889
00:43:57.159 --> 00:44:01.079
You know, who knows about immigrant There's he's gonna make enemies,

890
00:44:01.159 --> 00:44:03.559
but in the long run, it's gonna be better for

891
00:44:03.599 --> 00:44:04.800
the country.

892
00:44:05.639 --> 00:44:09.199
The interest rates were five weeks ooh, I don't know

893
00:44:09.320 --> 00:44:10.079
what caused that.

894
00:44:10.639 --> 00:44:13.239
Well, like you said, it's the Treasury Secretary and how

895
00:44:13.280 --> 00:44:16.079
potentially it's not going to be as inflationary, so they

896
00:44:16.480 --> 00:44:19.440
they priced it down again. Mortgage rates stayed around the

897
00:44:19.519 --> 00:44:23.199
same level that they've been but still elevated six point

898
00:44:23.239 --> 00:44:25.639
eight percent. So that's that's why we've seen some of

899
00:44:25.719 --> 00:44:28.440
the late housing figures come out. I've heard some of

900
00:44:28.480 --> 00:44:31.559
the new home builders that you know, they are hitting

901
00:44:31.599 --> 00:44:35.559
their marks of more closings year over year, but the

902
00:44:35.559 --> 00:44:38.079
problem is the revenue figures are still the exact same

903
00:44:38.159 --> 00:44:41.880
year over years, so they're doing more production but same revenue.

904
00:44:42.039 --> 00:44:44.519
I've been saying for months, and I think you all

905
00:44:44.519 --> 00:44:46.760
would agree. Now, more and more for sale signs all

906
00:44:46.800 --> 00:44:50.920
over town without SOULD signs on them. There's a lot

907
00:44:50.960 --> 00:44:51.079
of it.

908
00:44:51.360 --> 00:44:53.119
I don't see it because in my community it's all

909
00:44:53.199 --> 00:44:53.599
new homes.

910
00:44:53.639 --> 00:44:55.440
Well, yeah, you're out of glad and farms.

911
00:44:55.280 --> 00:44:57.639
Right, Yeah, there's no sales out there.

912
00:44:58.039 --> 00:45:00.440
Yeah, it could have no not even any sales at

913
00:45:00.440 --> 00:45:01.800
this point, right because it's all brand new.

914
00:45:02.159 --> 00:45:03.599
Well, no half the homes have been there for like

915
00:45:03.679 --> 00:45:06.360
fifteen years. This cell it's I don't know that that

916
00:45:06.400 --> 00:45:08.880
area seems to not really have too many cells.

917
00:45:08.760 --> 00:45:10.519
But as you drive around too soon you can see them.

918
00:45:10.760 --> 00:45:13.199
Yeah, more for sales. And then somehow I got on

919
00:45:13.239 --> 00:45:16.360
a Zillow like email list. I don't really know how,

920
00:45:16.400 --> 00:45:19.840
but what I've seen is that it keep getting price

921
00:45:19.840 --> 00:45:22.079
cuts on different houses. I keep getting emails about price

922
00:45:22.119 --> 00:45:24.719
cuts from anywhere from five to fifty grand.

923
00:45:24.920 --> 00:45:27.360
Yeah, I've told you Michael was gone from five eighty

924
00:45:27.400 --> 00:45:30.119
to four fifty and he actually had a three seventy

925
00:45:30.119 --> 00:45:32.679
five offer from one of these guys that comes down TV.

926
00:45:32.960 --> 00:45:34.880
I'll buy your home, no matter what shape it's in,

927
00:45:34.960 --> 00:45:37.559
you know, And that's what they're trying to do. And

928
00:45:37.360 --> 00:45:40.960
there's nothing wrong with that if you're desperate, but she's

929
00:45:41.000 --> 00:45:45.639
not quite that desperate. Next week, one really economic number

930
00:45:45.679 --> 00:45:48.840
of note, which is the government's jobs report on next Friday.

931
00:45:50.199 --> 00:45:53.480
China actually had a little bit of an uptick this

932
00:45:53.519 --> 00:45:59.400
week after seven consecutive weeks lower oil opped up to

933
00:45:59.440 --> 00:46:03.000
seventy one bucks a week ago, back down at the

934
00:46:03.079 --> 00:46:05.719
sixty eight and a half this week. And again that's

935
00:46:05.920 --> 00:46:07.960
I think a lot of that's based upon China, and

936
00:46:08.000 --> 00:46:09.599
I think you could make a case being it a

937
00:46:09.639 --> 00:46:13.159
lot that's based upon the Trump administration probably opening that

938
00:46:13.480 --> 00:46:15.480
up a little bit more. Sure it is a little

939
00:46:15.519 --> 00:46:16.239
bit more supplied.

940
00:46:16.679 --> 00:46:19.639
I wouldn't not be surprised to see oil down in

941
00:46:19.719 --> 00:46:21.280
about forty five to fifty rangels.

942
00:46:21.280 --> 00:46:21.960
Oh really that low?

943
00:46:22.280 --> 00:46:24.280
And the reason is is that I don't think the

944
00:46:24.320 --> 00:46:27.760
Middle East is going to adhere to their price cuts.

945
00:46:28.519 --> 00:46:30.639
Agree They're going to say, screw this, we're going to

946
00:46:30.679 --> 00:46:32.519
put it out there. Why is the US able to

947
00:46:32.519 --> 00:46:34.559
put it out there? We're not going to do this,

948
00:46:34.800 --> 00:46:36.760
and it's going to open up the supply.

949
00:46:36.840 --> 00:46:38.599
In a while since I've thought about this number, but

950
00:46:38.639 --> 00:46:41.559
I think the break even on producing it to somewhere

951
00:46:41.559 --> 00:46:42.480
in the low fifties.

952
00:46:43.320 --> 00:46:46.840
It depends. It depends crackings lower. Yeah, that's true, you know,

953
00:46:47.719 --> 00:46:50.519
it depends. I thought it was more in the thirties

954
00:46:50.880 --> 00:46:53.639
that they can make money in their homework. First, I

955
00:46:53.679 --> 00:46:55.679
think it depends who it is too, and if they

956
00:46:55.760 --> 00:46:57.840
already established the Wales, so you're putting in a new

957
00:46:57.840 --> 00:47:01.280
well and all the other expenses i'ming off shore. How

958
00:47:01.320 --> 00:47:03.400
dirty is the oil? You know, there's a lot of

959
00:47:03.440 --> 00:47:04.119
different things.

960
00:47:04.519 --> 00:47:07.119
But what we're also seeing is other energy sources like

961
00:47:07.239 --> 00:47:11.119
nuclear continue to get bids because of that's gonna that

962
00:47:11.199 --> 00:47:14.079
space is needed to carry out. Oil can't be the only.

963
00:47:13.960 --> 00:47:16.960
No, we have to have alternative energy to be able

964
00:47:17.000 --> 00:47:20.360
to generate the energy needed for AI.

965
00:47:21.280 --> 00:47:22.599
Yeah, it's got to be a keep up.

966
00:47:22.599 --> 00:47:25.639
When we can be more acceptable towards nuclear, we think that's.

967
00:47:25.880 --> 00:47:27.360
We're coming up to the hard break. I want to

968
00:47:27.360 --> 00:47:29.679
thank everybody for listening being part of what we do.

969
00:47:29.920 --> 00:47:33.199
Whether it's watching TV, listen to the radio, Saturday, Sunday,

970
00:47:33.239 --> 00:47:35.159
you name it, we're here for you. Give us a

971
00:47:35.159 --> 00:47:37.599
call if you need a help. We'll be back right

972
00:47:37.639 --> 00:47:41.800
after this short break, and I hope everyone's having a

973
00:47:41.800 --> 00:47:42.519
great Thanksgiving.

974
00:47:44.320 --> 00:47:46.920
Welcome back to the second hour of the Money Matter Show.

975
00:47:46.960 --> 00:47:50.280
This is the Thanksgiving edition. Talked a lot about food

976
00:47:50.599 --> 00:47:52.840
in the first hour. For those of you just tuning in,

977
00:47:53.039 --> 00:47:55.159
the Dow is up one point four percent last week,

978
00:47:55.320 --> 00:47:57.320
the S and P five hundred was up one point one,

979
00:47:57.920 --> 00:48:00.119
the NASDAC was up one point one as well, and

980
00:48:00.159 --> 00:48:02.280
the Wrustle two thousand was up one point three percent.

981
00:48:02.519 --> 00:48:04.719
And then the equal weighted S and P five hundred

982
00:48:05.039 --> 00:48:07.000
was up one point one percent, so the SMP and

983
00:48:07.039 --> 00:48:10.239
the equal weighted were up the same. It never really happened.

984
00:48:10.480 --> 00:48:13.239
Usually it's been close, but it's never been the exact

985
00:48:13.239 --> 00:48:14.559
send that I've seen it.

986
00:48:14.760 --> 00:48:16.400
Don't slow down a little bit here, we could have

987
00:48:16.440 --> 00:48:17.760
one of the best years in history.

988
00:48:17.960 --> 00:48:18.119
I know.

989
00:48:18.239 --> 00:48:20.639
I have an interesting question to pose. So remember when

990
00:48:20.679 --> 00:48:22.960
we were at fifty six hundred and we thought the

991
00:48:23.000 --> 00:48:26.239
market was gonna go you know, that's kind of where

992
00:48:26.239 --> 00:48:29.599
we started putting on the protection, right yep. Since then

993
00:48:29.599 --> 00:48:32.519
because we thought there wasn't much money in the system

994
00:48:32.559 --> 00:48:34.440
at that time, there's not much money left to be

995
00:48:34.599 --> 00:48:37.320
bought to push the markets higher. Since then, the market

996
00:48:37.440 --> 00:48:40.920
is obviously pushed higher to above six thousand. But also

997
00:48:41.039 --> 00:48:45.719
what's interesting is an entire news space, the bitcoin world,

998
00:48:45.760 --> 00:48:48.559
the crypto world has gone absolutely crazy during that same

999
00:48:48.880 --> 00:48:51.079
run where the SMP has gone from fifty six to

1000
00:48:51.159 --> 00:48:53.480
six thousand. So not only was there new money to

1001
00:48:53.519 --> 00:48:56.840
push the equity markets to new all time highs, there's

1002
00:48:56.840 --> 00:48:59.960
also a lot of money to push this crypto world

1003
00:49:00.079 --> 00:49:02.719
to new all time hus So where do you think

1004
00:49:02.960 --> 00:49:04.960
all this extra money has come from?

1005
00:49:05.159 --> 00:49:08.039
Money market funds? I mean the money market funds for

1006
00:49:08.079 --> 00:49:10.480
the first time in years just paying what always used

1007
00:49:10.480 --> 00:49:13.079
to be just given five percent. You can always get

1008
00:49:13.119 --> 00:49:14.880
five percent of money market fund if you didn't mind

1009
00:49:14.880 --> 00:49:18.039
do anything else. But here we are back there, you know,

1010
00:49:18.239 --> 00:49:20.880
or here we were back there, and that's starting to

1011
00:49:21.679 --> 00:49:24.000
drift lower now as interest rates come down and most

1012
00:49:24.039 --> 00:49:25.760
of the money market funds are down around four and

1013
00:49:25.800 --> 00:49:28.599
a half now from a high of five and a quarter.

1014
00:49:29.039 --> 00:49:32.320
There's still around a trillion dollars a money market. Yeah,

1015
00:49:32.719 --> 00:49:35.039
there's a lot of money still sitting on the sidelines,

1016
00:49:35.880 --> 00:49:38.880
but there's still you know, all this increase. Potentially it

1017
00:49:39.000 --> 00:49:42.280
was the central banks around the world have started at

1018
00:49:42.320 --> 00:49:45.639
lower rates in the last five six months, right, and

1019
00:49:45.719 --> 00:49:48.880
so does that Has that been where the extra liquidity

1020
00:49:48.880 --> 00:49:52.280
has come from? Potentially, But there's been a lot of

1021
00:49:52.320 --> 00:49:55.960
extra money and sometimes what you've seen in this debt

1022
00:49:57.159 --> 00:49:59.840
denominated world that we live in. The higher and higher

1023
00:50:00.079 --> 00:50:03.280
set prices go, it can fund itself higher and higher

1024
00:50:03.320 --> 00:50:06.000
because then you can loan against your values of your

1025
00:50:06.000 --> 00:50:09.360
assets with more money. And the higher and higher it goes,

1026
00:50:09.360 --> 00:50:10.800
the more money you can loan out, and then you

1027
00:50:10.800 --> 00:50:13.320
can use that money to buy that same asset. It's

1028
00:50:13.360 --> 00:50:17.440
a reinforcing feedback loop and that helps push these markets

1029
00:50:17.800 --> 00:50:21.119
to levels that come sometimes feel frothy. And that's where

1030
00:50:21.119 --> 00:50:23.480
I think we're at this point where this market can

1031
00:50:23.519 --> 00:50:25.880
get unwound very quickly. And that's what we saw in

1032
00:50:26.039 --> 00:50:31.000
early August with the yen carry trade and a couple

1033
00:50:31.000 --> 00:50:34.360
of days we were down like five percent. Because when

1034
00:50:34.360 --> 00:50:36.519
you have a world that is all on that debt

1035
00:50:36.800 --> 00:50:39.960
and that collateral based system, the minute the collateral goes

1036
00:50:39.960 --> 00:50:42.400
down in value, that all those trades have to unwind.

1037
00:50:42.440 --> 00:50:44.320
It can go very quickly. So it's not a surprise

1038
00:50:44.360 --> 00:50:45.960
if all of a sudden we get a five to

1039
00:50:46.000 --> 00:50:49.840
ten percent pullback without really a big actually event or

1040
00:50:50.239 --> 00:50:54.719
unforeseen you know, black swan type of event. It could

1041
00:50:54.719 --> 00:50:57.480
really just be that one stock reports bad or one

1042
00:50:57.519 --> 00:51:01.119
stock has a bad news event that happens, and then

1043
00:51:01.119 --> 00:51:03.360
all of a sudden, that leads to a five ten

1044
00:51:03.360 --> 00:51:05.119
percent pullback in the general market.

1045
00:51:05.559 --> 00:51:07.760
It's gonna be interesting to watch bitcoin. I just can't

1046
00:51:07.800 --> 00:51:09.800
even imagine where it's going to go. So I had

1047
00:51:09.880 --> 00:51:12.840
an analysty the other day said that it's a real deal,

1048
00:51:12.880 --> 00:51:15.800
you'd better get on board. And I had another analyst

1049
00:51:15.840 --> 00:51:19.719
say it's the biggest bubble in history. It's just amazing

1050
00:51:19.760 --> 00:51:23.719
to watch this coin that you could have bought for

1051
00:51:23.760 --> 00:51:29.000
ten bucks a decade ago is now approaching one hundred

1052
00:51:29.039 --> 00:51:33.639
thousand dollars per coin and it and tod do you

1053
00:51:33.639 --> 00:51:35.119
know how volatile it is? It went up to what

1054
00:51:35.239 --> 00:51:39.000
ninety eight three or ninety nine eight, ninety nine eight,

1055
00:51:39.599 --> 00:51:42.119
then dropped back to around ninety thousand, I mean ten

1056
00:51:42.159 --> 00:51:45.360
percent drop in just a matter of ten days, and

1057
00:51:45.400 --> 00:51:47.800
now here it is back to the ninety nine thousand again.

1058
00:51:47.920 --> 00:51:51.400
It's so volatile, and I don't have any kind of

1059
00:51:51.440 --> 00:51:54.119
feel for it. There are no earnings, there's no ceo,

1060
00:51:54.760 --> 00:51:56.599
there's no sales, there's no product.

1061
00:51:56.719 --> 00:51:59.079
I mean no, it's it lives on supplying demand.

1062
00:51:59.199 --> 00:52:00.760
It's just supplying one million.

1063
00:52:00.960 --> 00:52:03.800
There's twenty one million units of it, and what is

1064
00:52:03.800 --> 00:52:08.000
it denominated against? A currency that continues to get printed.

1065
00:52:08.480 --> 00:52:10.360
And the one thing that I will say is that

1066
00:52:10.400 --> 00:52:14.480
I'm watching it. It's like the Nasdaq on steroids. If

1067
00:52:14.480 --> 00:52:16.760
the market were to correct five percent, bitcoin to be

1068
00:52:16.800 --> 00:52:21.480
down twenty percent, market keeps going, Bitcoin'll keep going. That's

1069
00:52:21.599 --> 00:52:22.280
that's my gut.

1070
00:52:22.360 --> 00:52:24.679
And also that's why equities always go up in value

1071
00:52:24.679 --> 00:52:29.840
because they're assets, right, Earnings are given, they're they're tangible,

1072
00:52:29.840 --> 00:52:32.519
they're actually real, they're they're coming in the door, right,

1073
00:52:32.840 --> 00:52:35.840
And so why do these things always go up in

1074
00:52:35.920 --> 00:52:38.639
value over time because it's denominated against the dollar, which

1075
00:52:38.679 --> 00:52:42.039
they're keep printing, and the dollar is getting less and

1076
00:52:42.119 --> 00:52:45.519
less valuable compared to the asset that is the NASDAK

1077
00:52:45.639 --> 00:52:46.039
or the.

1078
00:52:45.920 --> 00:52:46.239
S and P.

1079
00:52:46.840 --> 00:52:50.280
I would argue that it's not just the growth of

1080
00:52:50.320 --> 00:52:50.920
the companies.

1081
00:52:51.039 --> 00:52:53.280
Yeah, but I would argue that that the market is

1082
00:52:53.280 --> 00:52:55.960
always going to go over time, go higher over time

1083
00:52:56.519 --> 00:52:59.960
because it's a measure of GDP, and GDP is based

1084
00:53:00.079 --> 00:53:02.079
upon the number of people you have in the country.

1085
00:53:02.239 --> 00:53:03.880
As long as you have more and more people in

1086
00:53:03.880 --> 00:53:06.159
the country, the GDP is going to go higher and

1087
00:53:06.199 --> 00:53:07.239
the market's going to follow.

1088
00:53:07.559 --> 00:53:10.760
Yes, But when GDP is denominated in the currency that

1089
00:53:10.880 --> 00:53:14.800
keeps getting printed, you start to get nominal figures that

1090
00:53:14.840 --> 00:53:15.719
don't mean anything.

1091
00:53:16.800 --> 00:53:20.960
You put more credibility on, you put make currency more

1092
00:53:20.960 --> 00:53:23.199
of a factor than I would. But yeah, we'll agree

1093
00:53:23.199 --> 00:53:23.719
to disagree.

1094
00:53:23.760 --> 00:53:25.920
There's more there's no earnings in bitcoin. But there is

1095
00:53:25.960 --> 00:53:28.360
an argument to be made for the adoption, the widespread

1096
00:53:28.400 --> 00:53:31.360
adoption that's been happening across the globe of this asset.

1097
00:53:31.599 --> 00:53:34.679
Right, where can you use bitcoin commercially?

1098
00:53:35.480 --> 00:53:37.079
You could buy a Ferrari with it, you'd buy a

1099
00:53:37.079 --> 00:53:37.559
Porsche with it.

1100
00:53:37.599 --> 00:53:39.639
A couple of there's a couple of the rights. There's

1101
00:53:39.639 --> 00:53:41.599
a couple of those who have done that as a promotional.

1102
00:53:41.760 --> 00:53:44.239
NFL players get paid in bitcoin, now.

1103
00:53:44.400 --> 00:53:44.760
Do they?

1104
00:53:44.880 --> 00:53:47.960
They can't know, they don't. They don't automatically they get

1105
00:53:48.000 --> 00:53:49.599
the choice. They had a choice for the last couple

1106
00:53:49.639 --> 00:53:52.400
of years. They had a tackle for Carolina that was

1107
00:53:52.400 --> 00:53:53.639
the first guy to do it. He got half his

1108
00:53:53.719 --> 00:53:57.159
big half his new salary in bitcoin, and it like

1109
00:53:57.239 --> 00:53:59.079
right after that had dropped and everybody thought he's dumb.

1110
00:53:59.159 --> 00:54:01.840
And now he's there's been no reports on him lately.

1111
00:54:01.880 --> 00:54:06.079
But Saquon Barkley put his twenty twenty endorsement deals into bitcoin.

1112
00:54:06.119 --> 00:54:07.440
It was like ten million dollars.

1113
00:54:07.440 --> 00:54:09.519
Odell Beckham did the same thing around that time too.

1114
00:54:09.760 --> 00:54:13.480
Take his whole found money. Why not, right, Yeah.

1115
00:54:13.239 --> 00:54:16.320
Those guys that like this fourth contract salary that some

1116
00:54:16.360 --> 00:54:18.039
of these guys gets like Okay, we'll put.

1117
00:54:17.880 --> 00:54:19.440
In bitcoin, well Monday, they don't need it.

1118
00:54:19.480 --> 00:54:22.960
This is yeah, but it's paying off right now for him.

1119
00:54:23.079 --> 00:54:25.760
Yeah, it's kind of like a Otani from the Dodgers, right,

1120
00:54:25.800 --> 00:54:27.639
I mean, if he could take half a salary bitcoin

1121
00:54:27.679 --> 00:54:31.000
to lose it all, it wouldn't matter. Undred million dollars

1122
00:54:31.000 --> 00:54:31.559
for gonna sake.

1123
00:54:31.639 --> 00:54:33.440
Yeah, but he deferred all that for ten years, so

1124
00:54:33.440 --> 00:54:35.079
he's only getting paid two milli year right now.

1125
00:54:35.159 --> 00:54:36.719
Poor guy. It must be struggling.

1126
00:54:36.920 --> 00:54:39.760
Probably. I feel bou getting paid sixty million in endorsements.

1127
00:54:40.559 --> 00:54:42.719
Volatility of gold, what's going on there? Todd?

1128
00:54:43.159 --> 00:54:45.719
Well, I mean that that thing has gone up for

1129
00:54:46.239 --> 00:54:49.599
a very long time. I mean, what did it close

1130
00:54:49.639 --> 00:54:50.480
the week at.

1131
00:54:50.960 --> 00:54:54.000
It was only down twenty six to sixty, down about

1132
00:54:54.000 --> 00:54:54.679
fifty bucks.

1133
00:54:54.760 --> 00:54:56.960
Yeah, I mean that was a not a huge week.

1134
00:54:57.039 --> 00:55:00.239
Since now that it's so high. You know, Ffy drop crazy.

1135
00:55:00.320 --> 00:55:02.599
One hundred bucks two weeks ago and then rallied one

1136
00:55:02.679 --> 00:55:05.440
hundred and forty bucks higher, right a week ago?

1137
00:55:05.519 --> 00:55:08.519
What did it drop off of? Was it the Putin news?

1138
00:55:08.960 --> 00:55:11.559
Well, if you remember, that's the week when bigcoin really

1139
00:55:11.599 --> 00:55:12.639
started to go crazy.

1140
00:55:12.880 --> 00:55:13.800
So that's true.

1141
00:55:13.920 --> 00:55:17.480
It's potentially that people were just like, Okay, well I.

1142
00:55:17.480 --> 00:55:19.239
Might I'm tired of this whole stuff.

1143
00:55:19.320 --> 00:55:22.360
You know, gold's up twelve percent over the last six months,

1144
00:55:22.360 --> 00:55:23.880
but twelve percent today.

1145
00:55:24.480 --> 00:55:29.800
Shiny scientists found a gold like the positive cave through

1146
00:55:29.840 --> 00:55:31.880
however they do things over in one of their providences.

1147
00:55:32.039 --> 00:55:35.039
It's worth up to one hundred billion dollars if they

1148
00:55:35.039 --> 00:55:39.039
can mine it, which would make China the largest producer

1149
00:55:39.079 --> 00:55:40.679
or whatever of gold if they can do it.

1150
00:55:40.800 --> 00:55:41.000
Wow.

1151
00:55:41.719 --> 00:55:44.119
So that was last week, that was recently.

1152
00:55:44.280 --> 00:55:45.719
Yeah, I don't know.

1153
00:55:45.679 --> 00:55:46.800
If that I had anything to do with it, but

1154
00:55:46.800 --> 00:55:48.000
it's just no, it was fashioning.

1155
00:55:48.480 --> 00:55:49.800
Oh boy, there's a lot of supplies.

1156
00:55:50.039 --> 00:55:52.840
China's like, oh, we could become the highest of gold.

1157
00:55:53.400 --> 00:55:55.400
But you know, gold is a huge market. It's thirteen

1158
00:55:55.440 --> 00:55:58.119
trillion dollars, so one hundred billion dollars to move it

1159
00:55:58.119 --> 00:56:01.760
that much would be pretty cod. There's just definitely one of.

1160
00:56:01.760 --> 00:56:04.159
The psychologically, Yeah, I was just talking about goal without

1161
00:56:04.199 --> 00:56:05.599
and now China could be the leader in it.

1162
00:56:05.800 --> 00:56:08.079
If you're if you're reading about a new mind that

1163
00:56:08.199 --> 00:56:11.199
maybe the largest mine in history, the value of the

1164
00:56:11.199 --> 00:56:15.960
gold you have is essentially les, you would think maybe

1165
00:56:16.159 --> 00:56:18.320
maybe that accounted for the dip down. I didn't see

1166
00:56:18.360 --> 00:56:18.880
that article.

1167
00:56:19.280 --> 00:56:22.519
There's definitely a lot of more buyers wanting to protect

1168
00:56:22.639 --> 00:56:23.920
their assets from inflation.

1169
00:56:24.280 --> 00:56:26.719
So that's it's just it's just going to be interesting

1170
00:56:26.719 --> 00:56:28.920
to watch bitcoin again, be careful out there, people, This

1171
00:56:29.000 --> 00:56:32.280
is legalized gambling bitcoin. I mean, there's no fundamentals to it.

1172
00:56:33.159 --> 00:56:35.480
I one nd percent disagree when you said there's no

1173
00:56:35.519 --> 00:56:36.519
fundamentals to bitcoin.

1174
00:56:36.639 --> 00:56:38.519
No, what is the fundamental then?

1175
00:56:38.760 --> 00:56:41.199
Supply and demand based on the cost of energy.

1176
00:56:42.280 --> 00:56:44.519
Supply and demand based on the cost of it.

1177
00:56:44.639 --> 00:56:47.280
There's twenty one million bitcoin. Each bitcoin can only be

1178
00:56:47.280 --> 00:56:49.599
produced based on the cost that it did to mine it.

1179
00:56:49.840 --> 00:56:51.559
Well, what makes a bitcoin worth a penny?

1180
00:56:51.960 --> 00:56:54.639
The energy you have to just willing to pay it. No,

1181
00:56:54.800 --> 00:56:58.039
the energy you had to pay to mine the first bitcoin.

1182
00:56:59.000 --> 00:57:00.639
I think that's irrelevant.

1183
00:57:00.840 --> 00:57:03.000
Well, no, that's your opinion.

1184
00:57:03.079 --> 00:57:04.079
Absolutely, it's my opinion.

1185
00:57:04.159 --> 00:57:06.960
Yeah, but you actually have to pay money to produce something.

1186
00:57:07.039 --> 00:57:08.360
There is intrinsic value to do.

1187
00:57:08.440 --> 00:57:10.480
I have to pay one hundred dollars to produce something

1188
00:57:10.519 --> 00:57:13.039
and I can only sell for fifty dollars. That's my problem.

1189
00:57:13.239 --> 00:57:14.719
That's it's not all of a sudden it's going to

1190
00:57:14.760 --> 00:57:16.239
be worth one hundred and twenty five could it cost me?

1191
00:57:16.320 --> 00:57:18.320
Why does bitcoin keep going up in value because more

1192
00:57:18.360 --> 00:57:20.440
and more people trust it? Why did the dollar keep

1193
00:57:20.480 --> 00:57:22.440
going down in value over time?

1194
00:57:22.840 --> 00:57:24.760
But the dollar doesn't go down in value over time.

1195
00:57:24.800 --> 00:57:26.920
It's been going straight up and hit a what three.

1196
00:57:26.800 --> 00:57:29.239
Year high, two year high compared to what it was

1197
00:57:29.280 --> 00:57:31.800
two years ago. Look over time, if you look at

1198
00:57:31.800 --> 00:57:33.920
an asset, what does a dollar get you compared to

1199
00:57:34.000 --> 00:57:36.960
what it did fifty years ago? Not as much, right,

1200
00:57:37.000 --> 00:57:39.760
because the assets keep going up in value versus the dollar.

1201
00:57:40.760 --> 00:57:44.440
And that's what it's saying. I'm going to be interested

1202
00:57:44.480 --> 00:57:47.519
to watch. Bitcoin is worth somewhere between nothing and a

1203
00:57:47.599 --> 00:57:48.199
million dollars.

1204
00:57:48.320 --> 00:57:51.360
Remember when we were joking about the price of gold

1205
00:57:51.400 --> 00:57:54.840
going up because of the accessibility upon like, well at

1206
00:57:54.880 --> 00:57:57.119
since Costo's selling it, Well, I wonder if like the

1207
00:57:57.119 --> 00:58:02.639
accessibility of you know, buying though helps the price of bitcoin,

1208
00:58:02.679 --> 00:58:05.880
which obviously it does, and it's only easier now in

1209
00:58:05.920 --> 00:58:08.320
today's world. You know, I could buy bitcoin right now

1210
00:58:08.360 --> 00:58:09.039
in two seconds.

1211
00:58:09.239 --> 00:58:11.119
It's a big part of it that the ETFs.

1212
00:58:11.280 --> 00:58:14.360
You think the ets over a million bitcoin? Yeah, I

1213
00:58:14.360 --> 00:58:16.679
think there's only twenty one million that are ever going

1214
00:58:16.719 --> 00:58:17.280
to be out there.

1215
00:58:17.320 --> 00:58:20.559
Yeah. I don't know what the trust factor is on bitcoin.

1216
00:58:20.559 --> 00:58:22.320
The last I looked, it was twelve percent of the

1217
00:58:22.400 --> 00:58:23.960
population trust bitcoin.

1218
00:58:24.079 --> 00:58:25.679
Yeah, but who's going to fill out that survey.

1219
00:58:25.760 --> 00:58:28.239
I don't know, I don't know what you.

1220
00:58:28.559 --> 00:58:31.960
Have survey bias in there? And well, what way, because

1221
00:58:31.960 --> 00:58:35.239
who's filling out that survey that you're really on your

1222
00:58:35.280 --> 00:58:36.199
evidence to call.

1223
00:58:36.679 --> 00:58:39.039
What we do with typically in a study like that

1224
00:58:39.199 --> 00:58:41.480
is you would you would pull X number of people,

1225
00:58:41.960 --> 00:58:45.119
right survey? You are you comfortable with bitcoin? I don't

1226
00:58:45.119 --> 00:58:45.639
know what it is.

1227
00:58:45.639 --> 00:58:47.880
Who are you asking? Though? That's called volunteer.

1228
00:58:48.559 --> 00:58:50.719
It has to be random, you can't. It has to

1229
00:58:50.760 --> 00:58:51.519
be random.

1230
00:58:52.119 --> 00:58:53.440
So you're asking eight year old?

1231
00:58:53.760 --> 00:58:54.719
No, no, no, no, you're a.

1232
00:58:54.960 --> 00:58:57.519
There's no random. You have parameters of who you actually

1233
00:58:57.519 --> 00:58:58.039
you're asking.

1234
00:58:58.079 --> 00:59:01.599
No, you're you're not you're asking adults. But it's irrelevant,

1235
00:59:01.679 --> 00:59:04.920
it's irrelem. We'll see. It's gonna be fun. There's gonna

1236
00:59:04.920 --> 00:59:06.119
be a lot of people getting rich and a lot

1237
00:59:06.159 --> 00:59:08.840
of people going broke on bitcoins. So we'll see how

1238
00:59:08.840 --> 00:59:13.679
it happens in video. Kind of an interesting it's one

1239
00:59:13.719 --> 00:59:18.039
of the more interesting UH investments with actually has fundamental

1240
00:59:18.119 --> 00:59:23.159
value over the last two or three years, and as

1241
00:59:23.199 --> 00:59:25.679
one of the most talked about stocks. It hit a

1242
00:59:25.679 --> 00:59:28.039
new all time high after their earnings report on the

1243
00:59:28.079 --> 00:59:31.280
twenty first, but Sin Sin's dropped about ten percent. What

1244
00:59:31.320 --> 00:59:33.320
are your thoughts doing on in Vidia.

1245
00:59:34.239 --> 00:59:37.360
I mean, they're still the leader, they're still selling those chips,

1246
00:59:37.400 --> 00:59:40.400
so it could be overborrowing now. But I mean, I

1247
00:59:40.400 --> 00:59:41.920
don't know if it's gonna get back to one fifty

1248
00:59:41.920 --> 00:59:44.360
anytime soon, if we see a market as a whole drop.

1249
00:59:44.440 --> 00:59:48.519
But my concern, my concern with Nvidia is they have

1250
00:59:48.719 --> 00:59:53.719
demand that is off the charts. The demand is simply unlimited.

1251
00:59:54.039 --> 00:59:57.239
They can sell every single chip that they can produce.

1252
00:59:58.079 --> 00:59:59.920
I don't know how they do better than that.

1253
01:00:00.079 --> 01:00:01.800
I think at some point a competitor just.

1254
01:00:01.760 --> 01:00:05.039
Standing they have to keep staying ahead with like their

1255
01:00:05.039 --> 01:00:08.400
Blackwell chip is ahead, they're a year ahead of everybody else. Sure,

1256
01:00:08.480 --> 01:00:10.599
if they don't do that, then they're going to start

1257
01:00:10.639 --> 01:00:12.800
pulling back. But they keep staying a year ahead and

1258
01:00:12.840 --> 01:00:15.960
that much more advanced, then there's no they're not going

1259
01:00:16.000 --> 01:00:17.239
to slow down anytime soon.

1260
01:00:17.119 --> 01:00:19.000
I guess. But again, what I'm saying is, if you

1261
01:00:19.039 --> 01:00:23.000
can sell every single thing you can manufacture, how do

1262
01:00:23.039 --> 01:00:23.840
you do better than that?

1263
01:00:23.920 --> 01:00:25.599
You expand, you sell more, but you.

1264
01:00:25.559 --> 01:00:28.559
Can't know facause that's that you're talking about multi year

1265
01:00:28.800 --> 01:00:32.039
billions of dollars to expand. That's the way that that's

1266
01:00:32.079 --> 01:00:35.679
down two, three, four years. You know what about it's

1267
01:00:35.679 --> 01:00:37.679
all part I mean, it's all forecast and stuff. That's

1268
01:00:37.719 --> 01:00:38.360
what people want to say.

1269
01:00:38.360 --> 01:00:40.199
They're trading at fifty six times any.

1270
01:00:40.159 --> 01:00:42.079
Yeah, it's not even that expensive obviously.

1271
01:00:41.920 --> 01:00:43.960
Stocking future growth, so it doesn't either.

1272
01:00:44.000 --> 01:00:45.920
But it's all about the future and their expectations and

1273
01:00:45.920 --> 01:00:47.840
their guidance because I mean, yeah, like you're saying, they

1274
01:00:47.840 --> 01:00:50.440
sell everything they make, so what are investors looking at.

1275
01:00:50.480 --> 01:00:52.920
They're looking at what their future could hold. Are they

1276
01:00:52.920 --> 01:00:54.800
going to continue to expand? Are their goals will still

1277
01:00:54.800 --> 01:00:55.639
be that far ahead?

1278
01:00:55.920 --> 01:00:58.639
The most valuable company in the world. Yeah, And I'm

1279
01:00:58.639 --> 01:01:00.639
thinking myself, if I could have any company in the

1280
01:01:00.639 --> 01:01:02.519
world to own, it wouldn't be in video.

1281
01:01:03.800 --> 01:01:04.760
I agree with you there.

1282
01:01:05.039 --> 01:01:07.519
I think we all agreed. It's probably Apple. Huh, what

1283
01:01:07.599 --> 01:01:09.320
do you think which company would you own if you

1284
01:01:09.320 --> 01:01:11.679
could own any company in the world, just companies. Yeah,

1285
01:01:11.679 --> 01:01:21.599
you're gonna own the company micro Strategy now whatever, maybe.

1286
01:01:21.360 --> 01:01:24.159
Amazon, Amazon's the big one.

1287
01:01:24.800 --> 01:01:27.119
If you guys had to guess what AMD's performance year

1288
01:01:27.159 --> 01:01:30.239
to date was AMDMD.

1289
01:01:29.519 --> 01:01:32.079
And that's their competitor. It used to be this poor

1290
01:01:32.119 --> 01:01:35.960
step child to Intel, that's been down to one eighty. Obviously,

1291
01:01:36.920 --> 01:01:42.719
am d's year to date probably up ten, what down?

1292
01:01:42.800 --> 01:01:43.559
Four down?

1293
01:01:43.639 --> 01:01:44.400
Five down?

1294
01:01:45.639 --> 01:01:48.079
Yeah, one of the largest chip makers, and.

1295
01:01:48.159 --> 01:01:50.280
That that was said to be like the biggest competitor

1296
01:01:50.440 --> 01:01:51.760
to the like in Vidio's Black Will.

1297
01:01:52.119 --> 01:01:55.159
Yeah, but they're having struggles being able to produce their demand,

1298
01:01:55.639 --> 01:01:56.440
that's what they're.

1299
01:01:56.239 --> 01:01:58.360
Not only that, but the price earnings there issue, right,

1300
01:01:58.559 --> 01:02:00.039
we were we showing that up.

1301
01:02:00.559 --> 01:02:05.199
The trailings at one twenty eight compared to videos fifty fifties. Yeah,

1302
01:02:05.280 --> 01:02:08.880
so it's you're you're paying two x more than two xx.

1303
01:02:08.840 --> 01:02:12.320
Yeah, compared to video's proof of concept. That's happened. It's happening.

1304
01:02:13.000 --> 01:02:15.000
Video is still the leader, and you like, I mean,

1305
01:02:15.039 --> 01:02:16.719
if you have a pullback for it, you want to buy.

1306
01:02:16.760 --> 01:02:18.800
It's pretty crazy that AMD can get cut in half

1307
01:02:18.840 --> 01:02:21.719
and it would then be priced the same value that

1308
01:02:21.800 --> 01:02:22.559
the video is out.

1309
01:02:22.400 --> 01:02:24.440
Of It's much. The most amazing probably that whole thing

1310
01:02:24.480 --> 01:02:26.320
is that the CEO of n Video and the CEO

1311
01:02:26.360 --> 01:02:28.199
of AMD are related.

1312
01:02:28.280 --> 01:02:30.519
The first cousins cousins, right, our cousins.

1313
01:02:30.559 --> 01:02:32.920
Oh my god, what are the odds? Talk about an

1314
01:02:32.920 --> 01:02:33.840
overachieving family?

1315
01:02:33.920 --> 01:02:34.039
Right?

1316
01:02:34.039 --> 01:02:37.400
How can go to Thanksgiving? Dinner with them. Wow, what

1317
01:02:37.440 --> 01:02:42.280
are you doing? You did well? Not much apparently, first

1318
01:02:42.320 --> 01:02:45.199
of what you guys are doing. Apple slumped on Wednesday

1319
01:02:45.199 --> 01:02:49.440
after the Chinese government reported, get this, sales of foreign

1320
01:02:49.519 --> 01:02:53.920
branded smartphones in China fell forty four percent year over

1321
01:02:54.000 --> 01:02:57.280
year in October. Because that's what they've been trying to do.

1322
01:02:57.440 --> 01:03:00.199
Chinese has been trying to diminish the sale of on

1323
01:03:01.199 --> 01:03:06.039
cell phones to benefit their own companies there in China.

1324
01:03:06.679 --> 01:03:08.559
A couple of things problems I have with is number one,

1325
01:03:08.960 --> 01:03:13.960
it's been reported by the Chinese government. I just unlike

1326
01:03:14.000 --> 01:03:17.559
the trust people. I don't trust the Chinese government. So

1327
01:03:17.960 --> 01:03:20.960
you go to take that. I think as Apple turns

1328
01:03:21.000 --> 01:03:23.159
on more and more of the Apple intelligence and you

1329
01:03:23.199 --> 01:03:25.119
start to hear more and more people talk about it,

1330
01:03:25.199 --> 01:03:26.960
I think you're probably going to get a lot more

1331
01:03:27.119 --> 01:03:30.719
interest in the iPhone sixteen than we have now. And

1332
01:03:30.760 --> 01:03:36.039
it's interesting because despite all of the noise, Apple on

1333
01:03:36.119 --> 01:03:40.400
Friday hit an all time high, all time high, you know,

1334
01:03:40.480 --> 01:03:43.719
not up ten percent for the all time high. With

1335
01:03:43.880 --> 01:03:48.599
all of this noise. You are Microsoft on Wednesday, right

1336
01:03:48.599 --> 01:03:53.039
before Thanksgiving, Happy Thanksgiving. FTC is starting to broad base

1337
01:03:53.119 --> 01:03:57.000
DOWNI trust investigation into Microsoft, and they announced it the

1338
01:03:57.000 --> 01:04:02.800
Wednesday afternoon before Thanksgiving. Nice, very nice for uh and

1339
01:04:02.960 --> 01:04:07.760
I trust like okay. So the good news at the

1340
01:04:07.840 --> 01:04:12.639
FTC has been informally speaking to Microsoft's competitors who would

1341
01:04:12.679 --> 01:04:13.599
love to see them.

1342
01:04:13.960 --> 01:04:18.000
Like Google's last antitrust lawsuit was in regards to what Chrome,

1343
01:04:18.159 --> 01:04:18.760
so it was just one of.

1344
01:04:18.920 --> 01:04:21.239
Search, search, and numerous other things they want to you know,

1345
01:04:21.400 --> 01:04:24.679
same with the same with Microsoft. Microsoft has their tentacles

1346
01:04:24.719 --> 01:04:27.760
into so many different areas, you know, take a pic.

1347
01:04:28.039 --> 01:04:31.079
The good news is that the dark days for tech

1348
01:04:31.679 --> 01:04:36.639
with Commissioner Lena Kahan at the FTC seems to me,

1349
01:04:36.679 --> 01:04:39.239
I probably numbered, what do you think?

1350
01:04:39.800 --> 01:04:43.079
Yeah? And another thing that about the Treasury pick that

1351
01:04:43.320 --> 01:04:47.360
Trump put in. His business currently has some connections with tether,

1352
01:04:47.519 --> 01:04:52.760
which is the stable coin and that denominates the dollar directly.

1353
01:04:53.119 --> 01:04:56.639
So uh, there's definitely some deregulation for a lot of

1354
01:04:56.679 --> 01:04:59.760
industries by just the multitude of picks that Trump has

1355
01:04:59.800 --> 01:05:03.199
been putting out, and that deregulation has been brought to

1356
01:05:03.280 --> 01:05:05.519
the market as a good thing. That's why the market

1357
01:05:05.639 --> 01:05:08.880
keeps climbing higher, you know, and expectations for these things

1358
01:05:08.960 --> 01:05:11.599
to finally be actually brought to fruition.

1359
01:05:12.000 --> 01:05:14.159
Well, because we go back eight years ago and what's

1360
01:05:14.239 --> 01:05:17.760
what's the very first thing Trump did? He started throwing

1361
01:05:17.800 --> 01:05:21.239
out regulations, you know, and the horse got out of

1362
01:05:21.280 --> 01:05:23.320
the pen and was able to run, and boy could

1363
01:05:23.320 --> 01:05:28.199
it run. And when you take away all these shackles.

1364
01:05:28.840 --> 01:05:33.639
Some shackles are obviously necessary and important, but but there's

1365
01:05:33.679 --> 01:05:35.960
an awfully lot of frivolous shackles. Yeah.

1366
01:05:35.960 --> 01:05:37.519
But I also this goes back to the point that

1367
01:05:37.559 --> 01:05:40.320
the presidents don't impact too much because you would say, okay,

1368
01:05:40.400 --> 01:05:42.599
we let the horse out of the barn with Trump,

1369
01:05:42.639 --> 01:05:44.679
and then you get Biden come in twenty twenty one

1370
01:05:44.719 --> 01:05:47.559
and say, well, here come the shackles. Right, the market

1371
01:05:47.639 --> 01:05:49.559
is not going to be able to grow. But twenty

1372
01:05:49.559 --> 01:05:53.440
three and twenty four were what years really really great yea,

1373
01:05:53.599 --> 01:05:56.800
and it was with under Biden's presidency. So you can't

1374
01:05:56.840 --> 01:06:01.079
dictate your investment philosophy off one person in behind a desk.

1375
01:06:01.679 --> 01:06:04.440
It's got to be based on actual factors that are

1376
01:06:04.440 --> 01:06:06.159
going to move the market. Because you could have been

1377
01:06:06.159 --> 01:06:08.320
in cash this entire year and you missed out on

1378
01:06:08.320 --> 01:06:09.960
one of the best years of the market's ever seen.

1379
01:06:10.079 --> 01:06:11.719
We've had a couple of people of those type of

1380
01:06:11.719 --> 01:06:13.639
people come in scared about that.

1381
01:06:14.239 --> 01:06:17.440
So it just when you're risk toleant, you can also

1382
01:06:17.480 --> 01:06:19.400
be your risk tolerance can say you're somewhere and you

1383
01:06:19.639 --> 01:06:24.159
could be underinvested, and if you're underinvested for a political reason,

1384
01:06:24.239 --> 01:06:27.400
or then you're not putting your money where you know,

1385
01:06:27.480 --> 01:06:30.480
most people say, I care about making money, you know,

1386
01:06:30.559 --> 01:06:32.719
that's what's what I want to protect my money and

1387
01:06:32.719 --> 01:06:35.480
make money. That's what I care most about, especially when

1388
01:06:35.519 --> 01:06:38.719
it impacts your day to day. And so just because

1389
01:06:38.920 --> 01:06:41.320
when president gets in that isn't you don't agree with it,

1390
01:06:41.320 --> 01:06:43.679
doesn't mean that your investment philosophy should change. It should

1391
01:06:43.679 --> 01:06:46.119
be based on your goals and objectives and your risk tolerance.

1392
01:06:46.760 --> 01:06:48.519
And then if you want to have a money manager,

1393
01:06:48.519 --> 01:06:50.360
do it. Let the money manager work based on what

1394
01:06:50.440 --> 01:06:52.599
he's seeing. If you're going to do it based do

1395
01:06:52.639 --> 01:06:55.199
it based on what you're seeing in the environment, the economics,

1396
01:06:55.199 --> 01:06:58.159
the economic the earnings reports, things that actually move markets.

1397
01:06:58.719 --> 01:07:03.559
The long run of political presidential policies are very long

1398
01:07:03.599 --> 01:07:06.159
to actually see it come to fruition. Think about the

1399
01:07:06.159 --> 01:07:09.280
Inflation Reduction Act. We're barely seeing the spending and that

1400
01:07:09.400 --> 01:07:10.159
was like two years ago.

1401
01:07:10.320 --> 01:07:14.119
They've been terrible. They've been terrible. The Biden administration has

1402
01:07:14.159 --> 01:07:16.440
been terrible at administry.

1403
01:07:16.400 --> 01:07:18.719
And I'm sure they are, but if you look in

1404
01:07:18.760 --> 01:07:21.360
the history of policies, they don't move very fast in general.

1405
01:07:21.639 --> 01:07:25.400
But you're like, you know, right, how about the infrastructure bill?

1406
01:07:25.440 --> 01:07:28.800
I think it's fifteen percent allocated? Right, that was two

1407
01:07:28.920 --> 01:07:32.280
years ago? Right, Really, what are you doing?

1408
01:07:33.360 --> 01:07:35.559
And who knows? Maybe Trump says, you know, that's that's

1409
01:07:35.599 --> 01:07:38.880
an extra part of money that hasn't been spent. Let's

1410
01:07:38.880 --> 01:07:40.760
not spend it. You know, that's an easy way to

1411
01:07:40.800 --> 01:07:43.320
reduce stuff sit right there. Yeah, So, and you know,

1412
01:07:43.360 --> 01:07:46.639
if that doesn't happen, then some of those infrastructure trades

1413
01:07:46.679 --> 01:07:48.480
that have been brought up over the last six months

1414
01:07:48.519 --> 01:07:52.199
will obviously get unwound. But other than that, you know,

1415
01:07:52.199 --> 01:07:54.679
there's there's definitely gonna be a lot of increase for

1416
01:07:55.079 --> 01:07:57.000
different industries because of the deregulation.

1417
01:07:58.320 --> 01:08:00.519
And unless you're a short term trader, do now do

1418
01:08:00.639 --> 01:08:04.000
not be trading on Trump's every nomination.

1419
01:08:05.360 --> 01:08:07.079
Yeah, Well, that's what you said. You got to find

1420
01:08:07.119 --> 01:08:10.159
an advisor to go the long haul with and believe

1421
01:08:10.159 --> 01:08:11.199
in what you do. And that's why you got to

1422
01:08:11.239 --> 01:08:13.639
find somebody that you trust that'll be there for a

1423
01:08:13.639 --> 01:08:16.119
while with you, not just three years or four years

1424
01:08:16.199 --> 01:08:19.359
or based on one election. Do it for your financial

1425
01:08:19.399 --> 01:08:20.079
plan for the whole.

1426
01:08:20.000 --> 01:08:22.960
Long haul, right, And it's natural tendency when the market's

1427
01:08:23.000 --> 01:08:26.000
doing what it's doing now to get more in, wrong

1428
01:08:26.239 --> 01:08:29.640
wrong thing to do when the market's falling, to get out,

1429
01:08:29.880 --> 01:08:33.680
wrong thing to do. You have an investment strategy, you

1430
01:08:33.760 --> 01:08:37.920
have an investment profile, you have a temperament. Stick to that.

1431
01:08:38.319 --> 01:08:41.640
But right now, like the biggest thing is, okay, this

1432
01:08:41.680 --> 01:08:44.479
person gets in office. Doesn't mean you go all the cash,

1433
01:08:44.479 --> 01:08:46.279
and it doesn't mean you go all the equities either.

1434
01:08:47.199 --> 01:08:49.600
Well, no, if you're a balanced investor, you're sixty percent

1435
01:08:49.640 --> 01:08:51.920
equity forty percent fixed income, what you would be doing

1436
01:08:52.000 --> 01:08:55.560
right now is selling stock and buying bonds. That's what

1437
01:08:55.560 --> 01:08:56.439
you would be doing right now.

1438
01:08:56.439 --> 01:08:58.359
Even if you're a pro Trump person says hey, this

1439
01:08:58.439 --> 01:09:00.399
is going to go to the moon, it's like we're

1440
01:09:00.399 --> 01:09:01.319
already at the moon.

1441
01:09:01.439 --> 01:09:05.159
Sure we are at We've got the money on the

1442
01:09:06.159 --> 01:09:08.159
Where are we going next? And maybe it will? I mean,

1443
01:09:08.439 --> 01:09:11.479
who knows how far this could go? Because it is momentum.

1444
01:09:11.680 --> 01:09:15.279
There a momentum trade right now the fundamentals are are

1445
01:09:15.359 --> 01:09:16.600
have been left behind.

1446
01:09:17.479 --> 01:09:19.600
So I mean for us, we got a lot on

1447
01:09:19.600 --> 01:09:21.960
the side too. For in the money markets, just waiting

1448
01:09:21.960 --> 01:09:22.600
for a pullback.

1449
01:09:22.840 --> 01:09:26.479
We have been yeah, and comfortably with five percent.

1450
01:09:26.640 --> 01:09:29.119
I don't feel like the fundamentals are so bad that

1451
01:09:29.279 --> 01:09:31.399
like what we've seen in twenty one where you saw

1452
01:09:31.520 --> 01:09:34.279
game stop and AMC and doc you sign at three

1453
01:09:34.359 --> 01:09:37.039
hundred and zoo oh no, no, no, four hundred. It's

1454
01:09:37.079 --> 01:09:37.760
not that bad.

1455
01:09:38.279 --> 01:09:39.279
It's just elevated.

1456
01:09:39.399 --> 01:09:40.119
Yeah, but it's.

1457
01:09:40.880 --> 01:09:42.880
Rich and pullback will probably put the money to work

1458
01:09:42.880 --> 01:09:43.399
in that sense.

1459
01:09:43.560 --> 01:09:45.960
But when we say bad, some people will hear that

1460
01:09:46.039 --> 01:09:48.840
as if you know, we're comparing it to a market

1461
01:09:48.880 --> 01:09:50.680
that was just you throw a dart of the stock

1462
01:09:50.720 --> 01:09:52.960
and you can make a winner. No matter what. We're

1463
01:09:53.000 --> 01:09:53.479
not there.

1464
01:09:54.399 --> 01:09:57.800
I think any any tradible dip will be bought. I

1465
01:09:57.800 --> 01:10:01.680
don't think there's much downside here, unless, like Deane said,

1466
01:10:01.680 --> 01:10:03.600
there's some kind of a black swan event, some kind

1467
01:10:03.600 --> 01:10:07.159
of a headline making. You know, I'm not even to

1468
01:10:07.439 --> 01:10:09.880
mention the possibilities because there I don't want to.

1469
01:10:09.800 --> 01:10:11.399
Hear that's the only way you see something like that.

1470
01:10:11.439 --> 01:10:14.159
Like in August, we thought with that carry trade. It

1471
01:10:14.239 --> 01:10:17.439
was we thought of something different, Marcus drop seven percent

1472
01:10:17.439 --> 01:10:18.279
in three days and then.

1473
01:10:20.039 --> 01:10:22.560
Had to economy hedge fund imploding.

1474
01:10:22.720 --> 01:10:24.199
Yeah, I had nothing to do with the economy, So

1475
01:10:24.239 --> 01:10:26.000
then it was that in a week.

1476
01:10:26.880 --> 01:10:29.000
Things of that nature. I think any kind of a

1477
01:10:29.039 --> 01:10:31.199
big move down in bitcoin might shake the market a

1478
01:10:31.239 --> 01:10:34.560
little bit, stuff like that. But you're right, I think

1479
01:10:34.600 --> 01:10:38.479
that uh, a tradeable down move three to five percent

1480
01:10:38.560 --> 01:10:41.000
probably is purchased because a lot of people missed this

1481
01:10:41.159 --> 01:10:44.079
run since Trump was elected and would like to be

1482
01:10:44.119 --> 01:10:44.600
a part of.

1483
01:10:44.520 --> 01:10:46.720
It, especially if it's the NASDA can move down with

1484
01:10:46.760 --> 01:10:47.600
all the tech companies.

1485
01:10:47.640 --> 01:10:49.760
Yeah, that'll be bought, Yeah, because that's very appealing.

1486
01:10:49.840 --> 01:10:51.880
The chip socks haven't really been I mean, they didn't

1487
01:10:51.880 --> 01:10:52.720
do nothing this week.

1488
01:10:53.000 --> 01:10:54.880
I got a little bit of a pop on Friday

1489
01:10:54.880 --> 01:10:59.800
when the Biden administration announced new restrictions on sales to

1490
01:11:00.720 --> 01:11:03.920
and they weren't anywhere near as severe as what had

1491
01:11:03.920 --> 01:11:06.439
been feared. I think that was a lot of what

1492
01:11:06.560 --> 01:11:09.840
gave the market a little boost on Friday is that

1493
01:11:11.600 --> 01:11:13.399
they could have been you know, they could have been

1494
01:11:13.479 --> 01:11:16.720
quite onerous, and they weren't. So it's kind of funny.

1495
01:11:16.800 --> 01:11:18.880
We're going to put more restrictions on what you can

1496
01:11:18.920 --> 01:11:22.039
sell to China, and you're going to respond by rallying

1497
01:11:24.840 --> 01:11:27.600
am doing down twelve percent on Tuesday. I want to

1498
01:11:27.600 --> 01:11:30.239
talk about the GLP one when we get back. We're

1499
01:11:30.279 --> 01:11:32.199
coming up on a break here, and I don't want

1500
01:11:32.239 --> 01:11:35.520
to start something. Bed Bath and Body down fifteen percent

1501
01:11:35.560 --> 01:11:39.239
this year, up fifteen percent on Monday. Stronger than an

1502
01:11:39.239 --> 01:11:42.720
expected quarter with upbeat guidance, and we did not see

1503
01:11:42.720 --> 01:11:45.359
a lot of upbeat guidance. Most of the guidance this

1504
01:11:45.399 --> 01:11:50.159
week was cautious, which there were four or five companies

1505
01:11:50.239 --> 01:11:52.880
I think it was on Wednesday that reported decent earnings

1506
01:11:52.920 --> 01:11:56.079
and cautious guidance. It's getting to be a little bit

1507
01:11:56.119 --> 01:11:58.079
of a trend. Anyway. We're coming up on a break here.

1508
01:11:58.359 --> 01:12:02.199
We appreciate you joining us on Thanksgiving edition of The

1509
01:12:02.239 --> 01:12:04.640
Money Matter Show. We'll be back with a couple more

1510
01:12:04.680 --> 01:12:06.039
segments right after this break.

1511
01:12:08.119 --> 01:12:10.399
Welcome back to The Money Matter Show. My name is Toddlick.

1512
01:12:10.439 --> 01:12:13.920
Come here with Dylan Greenberg, Sebastian Boardsini, and David Sherwood.

1513
01:12:14.359 --> 01:12:16.560
This week in the market, we saw interest rates take

1514
01:12:16.600 --> 01:12:19.079
a dip lower. But what also happened was the spread

1515
01:12:19.119 --> 01:12:22.039
between the two year, and the ten year narrowed even more.

1516
01:12:22.640 --> 01:12:27.560
It's now at only, well technically only seventeen basis points,

1517
01:12:27.600 --> 01:12:28.359
maybe even less.

1518
01:12:28.399 --> 01:12:30.720
I'm showing two years four point one seven and the

1519
01:12:30.800 --> 01:12:33.560
ten year four point two, so that'd be free basis point.

1520
01:12:33.600 --> 01:12:36.239
That's one Yeah, okay, I think, yeah, exactly.

1521
01:12:35.960 --> 01:12:36.880
Three basis points.

1522
01:12:36.880 --> 01:12:38.479
And what we did that's pretty flat.

1523
01:12:38.600 --> 01:12:40.399
Yeah, toad. Remember the end of day, I went through

1524
01:12:40.439 --> 01:12:43.039
the one to ten year treasuries and one to eight

1525
01:12:43.119 --> 01:12:46.560
year were all the same. Pick your year right and say, well,

1526
01:12:46.560 --> 01:12:48.520
why would I buy an eight year or if I

1527
01:12:48.520 --> 01:12:49.960
if the one if it paid the.

1528
01:12:49.960 --> 01:12:51.880
One year is a little higher one years at four

1529
01:12:51.880 --> 01:12:54.119
point three, but every other than that it's four point

1530
01:12:54.159 --> 01:12:55.000
one across the board.

1531
01:12:55.079 --> 01:12:57.560
Yeah, well I did this one. There was four. It

1532
01:12:57.640 --> 01:12:59.439
had to have been a few weeks back, and it

1533
01:12:59.479 --> 01:13:02.720
was four right across up through eight years. And so well,

1534
01:13:02.800 --> 01:13:06.119
why would I lock in for five years if I

1535
01:13:06.119 --> 01:13:08.560
can get the same rate for one? Well, because five

1536
01:13:08.640 --> 01:13:10.479
years from now there may be a recession going on

1537
01:13:10.520 --> 01:13:11.720
and the rates are going to be quite a bit

1538
01:13:11.720 --> 01:13:13.920
lower than they are now, and you will have locked

1539
01:13:13.960 --> 01:13:15.359
it in for five years.

1540
01:13:16.000 --> 01:13:16.199
Yeah.

1541
01:13:16.239 --> 01:13:20.039
But what the market's saying is we're it's not going

1542
01:13:20.039 --> 01:13:22.279
in the right direction. The boond market has three times

1543
01:13:22.319 --> 01:13:25.560
the amount of the stock market, and when you have

1544
01:13:25.640 --> 01:13:27.960
a closer and closer inversion on that, I mean, we

1545
01:13:28.039 --> 01:13:30.800
did see an inversion for sixteen months and we didn't

1546
01:13:30.800 --> 01:13:33.960
see any correction, but I don't expect to see another

1547
01:13:34.000 --> 01:13:37.279
inversion also not to see a correction again. You know,

1548
01:13:37.439 --> 01:13:40.039
normally you see maybe one outlier that it doesn't happen,

1549
01:13:40.119 --> 01:13:42.319
but it doesn't normally happen again.

1550
01:13:42.520 --> 01:13:45.600
And no, it's odd, isn't it? And from week from week.

1551
01:13:45.439 --> 01:13:46.920
To week was it was the first time in history,

1552
01:13:46.960 --> 01:13:49.399
I'm pretty sure. Yeah, yeah, not done a recession.

1553
01:13:49.439 --> 01:13:52.199
So yeah, it being so narrow that the spread being

1554
01:13:52.239 --> 01:13:54.199
so narrow a week to week it could invert, not

1555
01:13:54.680 --> 01:13:56.239
you know, day to day even right.

1556
01:13:56.359 --> 01:13:58.319
But I think what they say, like when the curve

1557
01:13:58.439 --> 01:14:00.960
is inverted for more than like three months or maybe

1558
01:14:01.000 --> 01:14:03.600
it was six months, it's like every time it's been

1559
01:14:03.600 --> 01:14:05.600
a recession one percent of the time. So this was

1560
01:14:05.600 --> 01:14:07.720
like the first time in where when we had that

1561
01:14:07.760 --> 01:14:10.680
inversion from twenty three into the twenty four where we

1562
01:14:10.680 --> 01:14:13.479
actually didn't have a recession and it never happens.

1563
01:14:13.319 --> 01:14:17.159
If I remember correctly, the longest inversion in history was

1564
01:14:17.239 --> 01:14:19.760
eighteen months, and this one was almost three years.

1565
01:14:19.840 --> 01:14:20.520
I was still in.

1566
01:14:20.479 --> 01:14:25.680
School when it first. Well, yeah it did, it did reinvert.

1567
01:14:25.720 --> 01:14:29.840
It was like thirty months of inversion. It's never seen

1568
01:14:29.880 --> 01:14:32.520
anything like that. Let's talk about the GLP one stocks

1569
01:14:32.520 --> 01:14:32.960
a little bit.

1570
01:14:33.079 --> 01:14:33.760
What happened.

1571
01:14:34.760 --> 01:14:37.560
The Biden administration came out and they proposed a rule

1572
01:14:37.600 --> 01:14:41.319
that would expand access for the obesity drugs to millions

1573
01:14:41.359 --> 01:14:45.039
of Medicare and Medicaid patients. And this is a proposal

1574
01:14:46.039 --> 01:14:49.439
Trump gets in. Maybe that's the ing that so does

1575
01:14:49.479 --> 01:14:50.279
it have legs?

1576
01:14:50.439 --> 01:14:51.000
I don't know.

1577
01:14:52.560 --> 01:14:55.039
You wonder how long something like this would last, if

1578
01:14:55.720 --> 01:14:59.920
if GLP won. Critic Kennedy actually was confirmed, and he's

1579
01:15:00.119 --> 01:15:02.159
been very much of a non believer in the g

1580
01:15:02.319 --> 01:15:04.640
LP one. He's more of a put the fork down guy.

1581
01:15:04.760 --> 01:15:07.039
Novo's looking really attractive to me, and that's kind of

1582
01:15:07.079 --> 01:15:09.399
the only big thing keeping me out.

1583
01:15:09.640 --> 01:15:12.319
Well, Lily and Novo Nordis, who who are the two

1584
01:15:12.399 --> 01:15:16.239
primary makers of these drugs, really had to pop on

1585
01:15:16.279 --> 01:15:20.760
that news that Biden wants them to bring into Medicare

1586
01:15:20.760 --> 01:15:24.239
and Medicaid. Again, it's a proposal Biden's got about you know,

1587
01:15:24.319 --> 01:15:27.600
five minutes left in office. I'm not sure that that

1588
01:15:27.640 --> 01:15:30.800
would be a reason to load up on Lily stock

1589
01:15:30.920 --> 01:15:34.560
because somebody who's got him a month left or six

1590
01:15:34.600 --> 01:15:38.119
weeks left, whatever, is thinking that it ought to be

1591
01:15:38.520 --> 01:15:42.079
approved because getting that done, I think is pretty close

1592
01:15:42.119 --> 01:15:46.239
to zero this time of the year. And you wonder

1593
01:15:46.239 --> 01:15:47.479
how much that's political too.

1594
01:15:47.520 --> 01:15:50.239
Both of those companies, Eli Lily and Novo caught a

1595
01:15:50.279 --> 01:15:53.720
big bid on a off of Amgen's bat report.

1596
01:15:53.880 --> 01:15:56.359
Let's talk about Amgen a little bit. That's an interesting report.

1597
01:15:56.359 --> 01:15:58.760
Amgen has their own GLP one, or their own weight

1598
01:15:58.840 --> 01:16:02.239
loss drug, down twelve percent on Tuesday, hit a fifty

1599
01:16:02.279 --> 01:16:08.800
two week low after their weight loss drug excuse me,

1600
01:16:09.600 --> 01:16:14.000
weight loss candy showed that investors thought were disappointing results.

1601
01:16:14.119 --> 01:16:18.079
You lose twenty percent of your weight on average in

1602
01:16:18.119 --> 01:16:23.159
twelve months, okay, which is comparable weight loss to noble

1603
01:16:23.359 --> 01:16:28.159
artists and Eli Lilly. It's not enough to but see

1604
01:16:28.199 --> 01:16:31.239
here's the deal. You only use the emgine product once

1605
01:16:31.279 --> 01:16:33.920
a month, you use the others once a week.

1606
01:16:35.520 --> 01:16:36.880
Seems like a pretty good trade off to man.

1607
01:16:36.920 --> 01:16:39.880
Pretty good tradeoff, and perhaps that's why it takes a year.

1608
01:16:40.640 --> 01:16:42.079
And I think you know in the world we live,

1609
01:16:42.119 --> 01:16:43.680
and I'm not going to wait to eear to lose

1610
01:16:43.720 --> 01:16:45.079
twenty percent of my weight.

1611
01:16:45.920 --> 01:16:47.720
It for fifteen years, but I'm not going to take

1612
01:16:47.720 --> 01:16:49.760
a year to lose it right right overnight.

1613
01:16:49.840 --> 01:16:50.199
Right now.

1614
01:16:50.319 --> 01:16:51.760
I want to go out of it. I want to

1615
01:16:51.760 --> 01:16:55.119
be out of it like now right. So I'm thinking

1616
01:16:55.159 --> 01:16:57.159
maybe that's the one thing that accounts for it, is

1617
01:16:57.199 --> 01:17:00.520
that it takes a year rather than just a few months.

1618
01:17:00.560 --> 01:17:03.439
I thought the report was actually pretty good, and I said,

1619
01:17:03.439 --> 01:17:05.880
the stack down twelve percent, which is like really.

1620
01:17:06.039 --> 01:17:07.880
Probably a little overdone.

1621
01:17:07.600 --> 01:17:10.159
I thought, which maybe makes it to buy an opportunity

1622
01:17:10.479 --> 01:17:13.199
if stocks like that once they settle out, if you

1623
01:17:13.319 --> 01:17:15.800
like the company from a dip like that, you could

1624
01:17:16.079 --> 01:17:16.640
start a buying.

1625
01:17:16.800 --> 01:17:20.159
The only reason I wouldn't choose sam Gens because it's uh, Eli,

1626
01:17:20.199 --> 01:17:23.520
Liley and Novo seemed like they're the real leaders.

1627
01:17:23.239 --> 01:17:25.199
And this is a good one. So I had a

1628
01:17:25.239 --> 01:17:29.159
client over the weekend say that she's gonna gift she

1629
01:17:29.239 --> 01:17:32.279
has seven kids. She's gonna gift one thousand dollars to

1630
01:17:32.359 --> 01:17:35.000
each kid and the kid gets to pick a stock

1631
01:17:35.079 --> 01:17:36.319
on December twenty fourth.

1632
01:17:36.399 --> 01:17:38.279
Yeah, I've had a similar client and.

1633
01:17:38.199 --> 01:17:41.640
Then one year later, whoever has the biggest gain, they'll

1634
01:17:41.680 --> 01:17:46.359
double back value for that kid. So the question is

1635
01:17:46.479 --> 01:17:50.279
what's your what's your stock from December twenty fourth for the.

1636
01:17:50.319 --> 01:17:53.239
Next twelve months, it has to be a stock?

1637
01:17:54.399 --> 01:17:58.760
Yes, no, yes, no, commanders a stock.

1638
01:18:00.000 --> 01:18:00.640
It's a tough one.

1639
01:18:01.760 --> 01:18:03.840
Really want bitcoin, you can get microschuredgy.

1640
01:18:04.720 --> 01:18:10.359
Yeah, I'll take microcragy. I can't. It just feels like

1641
01:18:10.399 --> 01:18:13.039
bitcoin is getting ready to explode, which means it's probably

1642
01:18:13.039 --> 01:18:13.720
gonna fall apart.

1643
01:18:14.560 --> 01:18:17.079
You know, I know Kramer said buy it, so that,

1644
01:18:17.239 --> 01:18:18.640
oh man, that might be the same.

1645
01:18:18.680 --> 01:18:20.960
That's what I took it from ninety nine down to ninety.

1646
01:18:21.039 --> 01:18:23.600
Kramer's bat lucks moving off of just stocks too. He

1647
01:18:23.720 --> 01:18:25.840
predicted that he's like, Trump's not gonna win, and then

1648
01:18:26.079 --> 01:18:26.800
look what happened.

1649
01:18:27.920 --> 01:18:30.479
You know, listening to him every day on his I'm

1650
01:18:30.520 --> 01:18:32.960
a member of his investing club and just listen to

1651
01:18:33.000 --> 01:18:35.720
his he does a ten minute deal every morning in

1652
01:18:36.319 --> 01:18:38.439
Jeff Mark, I think, and so I listened to that.

1653
01:18:39.119 --> 01:18:42.359
He was pretty he was sending a lot of signals

1654
01:18:42.359 --> 01:18:45.479
that Trump was gonna win. For a couple of weeks

1655
01:18:45.520 --> 01:18:47.960
before the election, two or three weeks before the election,

1656
01:18:48.439 --> 01:18:51.479
I didn't say so outright, and I the bottom line

1657
01:18:51.520 --> 01:18:54.439
is nobody knew and if you, if you to no

1658
01:18:54.520 --> 01:18:58.159
one you loaded up on bitcoin because that was a

1659
01:18:58.279 --> 01:19:02.560
dull you know, a duh investment if you knew that

1660
01:19:02.560 --> 01:19:07.119
Trump was gonna win. If Trump had not won, instead

1661
01:19:07.119 --> 01:19:09.239
of going from sixty too already have gone from sixty

1662
01:19:09.279 --> 01:19:13.840
to thirty probably or at least not done anywhere near

1663
01:19:14.399 --> 01:19:17.239
what he's done. Remember last week we mentioned the money

1664
01:19:17.279 --> 01:19:18.920
manager Stanley Drunken Miller.

1665
01:19:19.000 --> 01:19:20.920
Well, you didn't answer the question, so I love how

1666
01:19:20.960 --> 01:19:24.640
you do my segment, and you weren't the only one

1667
01:19:24.680 --> 01:19:25.840
I was asking either.

1668
01:19:25.640 --> 01:19:28.359
So you're asking all the guys. Yeah, I don't know.

1669
01:19:28.399 --> 01:19:31.880
I don't know. I just kind of maybe i'll next week.

1670
01:19:32.119 --> 01:19:34.600
I'll answered the question next week. I think I look

1671
01:19:34.640 --> 01:19:35.079
at it little.

1672
01:19:35.079 --> 01:19:37.760
So I'm just going for absolute gains here, like I'm

1673
01:19:37.800 --> 01:19:40.239
not trying to be prudence or anything like that. Yeah,

1674
01:19:40.239 --> 01:19:41.800
because if I'm trying to be prudence and I want

1675
01:19:41.800 --> 01:19:44.560
to pick a good company buying, I'm buying Google.

1676
01:19:45.479 --> 01:19:48.640
If not just the gains, yes, the highest game, that's

1677
01:19:48.680 --> 01:19:49.119
how you win.

1678
01:19:50.840 --> 01:19:52.039
Well, it had to be something. It had to be

1679
01:19:52.039 --> 01:19:53.880
some penny stock, and I just can't think of anything.

1680
01:19:53.880 --> 01:19:54.199
I know.

1681
01:19:57.600 --> 01:20:02.199
It's already taken small module react Okay, s mr Head

1682
01:20:02.199 --> 01:20:05.960
a heck of a day on copping growing penny stock

1683
01:20:06.079 --> 01:20:09.960
open open whatever, it's k O P I N.

1684
01:20:10.680 --> 01:20:13.560
How would you say that word copping? See?

1685
01:20:13.920 --> 01:20:15.760
So how do you say cop C O P?

1686
01:20:17.319 --> 01:20:17.520
Right?

1687
01:20:18.760 --> 01:20:20.199
So why would you say k O P.

1688
01:20:23.560 --> 01:20:24.039
K O P.

1689
01:20:25.560 --> 01:20:28.600
Lead and three different means?

1690
01:20:29.880 --> 01:20:30.199
Really?

1691
01:20:30.399 --> 01:20:33.720
Moving on, they make little lenses for like the virtual

1692
01:20:33.760 --> 01:20:36.199
reality stuff for Apple. So I'm hoping, you know, Apple

1693
01:20:36.279 --> 01:20:40.520
just buys them Mountain next year. Yeah, that's my penny stock.

1694
01:20:40.520 --> 01:20:41.880
Otherwise R is the.

1695
01:20:43.319 --> 01:20:48.680
Yeah from a percentage gained. If I had to pick

1696
01:20:48.720 --> 01:20:53.439
an inexpensive stock, and I probably I might take a shot.

1697
01:20:53.159 --> 01:20:58.000
At Ford might take at some point, you.

1698
01:20:57.920 --> 01:21:02.159
Think that's gonna be a winner over a tech company.

1699
01:21:01.039 --> 01:21:03.680
UND fifty really because they're only eleven dollars.

1700
01:21:04.680 --> 01:21:07.319
Okay? In that sense Intel tanked.

1701
01:21:07.399 --> 01:21:10.640
Intel's possible the Intel Intel could come alive. What do

1702
01:21:10.680 --> 01:21:11.960
you think? What's your favorite?

1703
01:21:12.600 --> 01:21:14.920
I think one that I haven't heard is I like

1704
01:21:15.000 --> 01:21:19.920
Qualkham seventeen times earnings right now?

1705
01:21:19.960 --> 01:21:22.439
Yeah, a struggling super cheap I know why they're struggling.

1706
01:21:22.439 --> 01:21:24.720
But there was reports two months ago about them possibly

1707
01:21:24.760 --> 01:21:27.640
buying Intel. I don't know about you, but if I

1708
01:21:27.680 --> 01:21:29.760
don't know how you're struggling if you have reports about

1709
01:21:29.760 --> 01:21:32.600
you buying Intel, So I don't think there's.

1710
01:21:32.479 --> 01:21:33.680
Much to the work struggling.

1711
01:21:33.760 --> 01:21:35.479
No, no, no, I no, I agree with you, but it's like,

1712
01:21:35.560 --> 01:21:38.079
what what could you not like? On investors sides, like

1713
01:21:38.359 --> 01:21:40.199
and they're talking about buying someone out one of the

1714
01:21:40.199 --> 01:21:42.439
biggest those they obviously have some money.

1715
01:21:42.479 --> 01:21:44.680
Those talks have settled down. But yeah, the fact that

1716
01:21:44.720 --> 01:21:47.600
they can and even have the conversation even rumors.

1717
01:21:47.239 --> 01:21:50.880
About it, if it wasn't possible, it was streussed so

1718
01:21:51.760 --> 01:21:54.720
and then again seventeen times earning. They have really good earnings.

1719
01:21:54.720 --> 01:21:57.000
They even pay a dividend and their growth company that

1720
01:21:57.199 --> 01:21:59.600
could easily say some AI words and it goes crazy.

1721
01:21:59.640 --> 01:22:01.880
That's dog that two twenties, that one fifty right now.

1722
01:22:02.600 --> 01:22:04.520
You know they're one of the big suppliers of the

1723
01:22:04.920 --> 01:22:07.720
apple chips for Apple, right, and I think one of

1724
01:22:07.760 --> 01:22:10.079
the things so if aping on their own tip right,

1725
01:22:10.159 --> 01:22:12.680
so right, they won't equal com anymore? Is that maybe

1726
01:22:12.680 --> 01:22:15.560
that's what's possibly not the stock down, But but it

1727
01:22:15.640 --> 01:22:17.960
is a great company. I think different headquarters San Diego.

1728
01:22:18.000 --> 01:22:19.520
I think you know, but.

1729
01:22:19.760 --> 01:22:21.720
I think the small one that I would go for

1730
01:22:22.880 --> 01:22:26.880
also would be Mara because they started doing what micro

1731
01:22:26.920 --> 01:22:30.520
shagy does, but they also mind bitcoin, and bitcoin goes crazy,

1732
01:22:30.520 --> 01:22:32.520
that thing will go crazy. That'll go to like eighty

1733
01:22:32.560 --> 01:22:34.239
bucks and it's like twenty two right now, so that

1734
01:22:34.279 --> 01:22:34.720
would be a.

1735
01:22:34.640 --> 01:22:37.880
Crazy I think whenever you're which you typically find when

1736
01:22:37.920 --> 01:22:41.399
somebody wins one of these, you know, pick the stock contest,

1737
01:22:41.439 --> 01:22:45.319
it's generally some little penny stock bizarre thing that could

1738
01:22:45.359 --> 01:22:49.119
go to zero, but it didn't, right, So those are.

1739
01:22:49.359 --> 01:22:51.319
But it's fun ways for people to have ideas of

1740
01:22:51.319 --> 01:22:55.640
how to get their own grandkids or kids involved in investing. Obviously,

1741
01:22:55.680 --> 01:22:57.960
a thousand dollars isn't going to make or break anyone

1742
01:22:58.680 --> 01:23:01.840
for most people. So if you have some discussion and money,

1743
01:23:01.840 --> 01:23:03.960
it's a good way for them to at least gain

1744
01:23:04.000 --> 01:23:06.600
some education about what stocks are, the risks that are

1745
01:23:06.640 --> 01:23:10.840
involved in picking obviously very volatile stocks, and what the

1746
01:23:10.840 --> 01:23:14.159
differences are between like an index and actually just investing

1747
01:23:14.199 --> 01:23:14.880
in one stock.

1748
01:23:15.079 --> 01:23:17.520
Right, and you could be they would be custou deal

1749
01:23:17.560 --> 01:23:20.119
accounts where you still have control of the money. Obviously

1750
01:23:20.119 --> 01:23:22.520
you got a minor cannot open a brokerage account, right.

1751
01:23:23.560 --> 01:23:26.880
That's I've actually had another client that that does that

1752
01:23:27.000 --> 01:23:29.000
regularly with her grandchildren.

1753
01:23:29.000 --> 01:23:30.840
You could also just open your own brokerage account and

1754
01:23:30.880 --> 01:23:33.399
keep it in your name and just keep track of itself.

1755
01:23:33.520 --> 01:23:35.359
Absolutely could. Yeah, no, that's a good point.

1756
01:23:36.039 --> 01:23:38.520
It goes through a lot less paperwork than paperwork.

1757
01:23:40.479 --> 01:23:42.800
Call it the educational account or whatever, and then have

1758
01:23:42.880 --> 01:23:45.760
a separate ledger where you're keeping track of what kid

1759
01:23:45.800 --> 01:23:48.439
did what exactly. It's a lot easier and plus you

1760
01:23:48.520 --> 01:23:50.960
control the money. You don't have to give them the

1761
01:23:50.960 --> 01:23:55.039
money when they're eighteen, because sometimes despite how fabulous the

1762
01:23:55.079 --> 01:23:59.079
parents are, the children stray can happen. I've seen great

1763
01:23:59.079 --> 01:24:02.399
parents with a lowsy wellthy parents with great kids. So

1764
01:24:02.720 --> 01:24:04.199
you do the best you can and then you put

1765
01:24:04.199 --> 01:24:06.399
them out in the world and it is what it is.

1766
01:24:06.880 --> 01:24:09.319
We'll be back with the final segment of the Money

1767
01:24:09.359 --> 01:24:12.039
Matter Show on this Thanksgiving weekend. Hope everybody was able

1768
01:24:12.079 --> 01:24:14.760
to spend some time over the weekend with their family

1769
01:24:15.199 --> 01:24:18.720
and give thanks for what's really important in our lives,

1770
01:24:18.760 --> 01:24:22.159
which we should do every single day, but we don't.

1771
01:24:22.359 --> 01:24:24.079
So we have a day set aside each year when

1772
01:24:24.119 --> 01:24:26.279
the force is going to think about it. So Happy

1773
01:24:26.319 --> 01:24:28.760
Thanksgiving everyone. We'll be back right after this break.

1774
01:24:30.760 --> 01:24:32.560
Welcome back to the Money Matter Show. This is our

1775
01:24:32.640 --> 01:24:36.079
last segment on this Thanksgiving edition. I'm here with Dave Sherwood,

1776
01:24:36.119 --> 01:24:39.680
Sebastian Borsini, Dan Greenberg, and Todd Glick. You gotta see

1777
01:24:39.720 --> 01:24:41.840
there's going to be a new stock exchange coming out

1778
01:24:41.920 --> 01:24:45.239
second half of next year, twenty three hours, which can

1779
01:24:45.279 --> 01:24:48.840
expand to all the time, from Sunday at APM to

1780
01:24:48.920 --> 01:24:50.199
Friday at seven pm.

1781
01:24:50.520 --> 01:24:52.840
I can't wait to get a call asking to sell

1782
01:24:52.920 --> 01:24:54.000
some stock on Saturday.

1783
01:24:54.279 --> 01:24:55.760
No, it won't be. This's the only day it's not open.

1784
01:24:57.159 --> 01:25:00.159
But it's yeah, and they have one hour pause. It's

1785
01:25:00.159 --> 01:25:02.520
open from four am from time to seven pm or

1786
01:25:02.560 --> 01:25:05.680
oh sorry till whatever. Three am.

1787
01:25:06.159 --> 01:25:08.159
Just what everyone who has no life needs.

1788
01:25:08.199 --> 01:25:09.000
Let us relax.

1789
01:25:09.680 --> 01:25:12.479
It's horrible, No, it's it's a horrible idea and it's

1790
01:25:12.600 --> 01:25:14.319
I can't believe the SEC approved it.

1791
01:25:14.439 --> 01:25:16.680
It's better for to go through one more regulation. I

1792
01:25:16.720 --> 01:25:19.039
don't know what it's actually approved.

1793
01:25:19.640 --> 01:25:22.159
I can't believe anybody on Wall Street supportive of it.

1794
01:25:22.359 --> 01:25:24.119
I mean, you have to have a life.

1795
01:25:24.159 --> 01:25:26.720
This is what we do for a job, right, it's

1796
01:25:26.720 --> 01:25:28.399
going to be big companies where they're going to have

1797
01:25:28.680 --> 01:25:31.960
people work the morning shift and the night shift kind

1798
01:25:31.960 --> 01:25:32.199
of thing.

1799
01:25:32.640 --> 01:25:37.399
But I mean, what about ABC ABC stock closer to

1800
01:25:37.479 --> 01:25:39.399
thirty and you come in and it's at forty.

1801
01:25:39.119 --> 01:25:42.319
Five, Oh my gosh, or the other way no, or.

1802
01:25:42.600 --> 01:25:45.399
Crashing had no control over, you had no idea. Why

1803
01:25:45.439 --> 01:25:47.239
weren't you in the office at three in the morning.

1804
01:25:48.079 --> 01:25:50.399
Yeah, it's like sleeping can't be the expectation.

1805
01:25:50.520 --> 01:25:53.960
Not a good idea, And hopefully it doesn't get like, yeah.

1806
01:25:53.760 --> 01:25:55.760
We'll see second half of twenty twenty five is there.

1807
01:25:55.760 --> 01:25:58.960
I'd expect that this is an ongoing trend. I mean

1808
01:25:59.039 --> 01:26:02.840
everything wants to be more, more accessible, more and more hours.

1809
01:26:02.920 --> 01:26:05.079
I mean the four x markets open six days a week,

1810
01:26:05.079 --> 01:26:08.399
twenty four to Sevencoin can do it, stock market can

1811
01:26:08.439 --> 01:26:08.680
do it.

1812
01:26:08.840 --> 01:26:10.640
I guess the only good news is the volume is

1813
01:26:10.680 --> 01:26:14.760
so swim and the off hours that you normally they are,

1814
01:26:15.039 --> 01:26:17.920
you're really rolling the dice when you're playing in that arena.

1815
01:26:18.439 --> 01:26:20.920
The only time it normally really sticks is around like

1816
01:26:20.920 --> 01:26:23.840
earning's reports or something like that. Has to be a

1817
01:26:23.840 --> 01:26:27.039
pretty ball to move for an aftermarket to really stick, right.

1818
01:26:27.000 --> 01:26:31.199
Have you ever heard of unusual machines. Yes, last week,

1819
01:26:31.239 --> 01:26:34.359
the company unusual, that's the actual name of the company.

1820
01:26:35.039 --> 01:26:38.720
It's it's the it's the It's a maker of drones

1821
01:26:39.279 --> 01:26:44.560
and drone components. Stock doubled on Wednesday after the company

1822
01:26:44.600 --> 01:26:50.880
announced Donald Trump Junior has joined the company's advisory board. Again. Well,

1823
01:26:50.920 --> 01:26:53.439
if Donald Trump Junior is on the board, maybe Daddy

1824
01:26:53.479 --> 01:26:56.720
can funnel us some business. But I thought that was

1825
01:26:56.760 --> 01:26:59.000
interesting to do. On the one that we've talked about

1826
01:26:59.039 --> 01:27:02.039
a lot. Did you see very Vertive this week? Not

1827
01:27:02.119 --> 01:27:05.039
a good week for a verdive and it hit an

1828
01:27:05.039 --> 01:27:09.920
all time Avertive is called Vertive Holdings Simple VRT, and

1829
01:27:10.039 --> 01:27:12.960
it's a company that makes the cooling towers I guess,

1830
01:27:12.960 --> 01:27:16.279
for lack of a better term, that are needed to

1831
01:27:16.479 --> 01:27:21.399
run these red hot chips that Nvidia and others are making.

1832
01:27:22.239 --> 01:27:26.520
They run at such a high speed that they tend

1833
01:27:26.520 --> 01:27:31.199
to overheat and melt down unless they're surrounded by cooling material.

1834
01:27:31.640 --> 01:27:34.479
It keeps them temperate. They hit an all time high

1835
01:27:34.800 --> 01:27:39.239
last week, but then drop fifteen percent, primarily because suddenly

1836
01:27:39.960 --> 01:27:43.359
investors are concerned about the company's ability to maintain its

1837
01:27:43.479 --> 01:27:48.079
high growth amidst of challenging economic environment. That's what I

1838
01:27:48.159 --> 01:27:52.640
read that right off their pressure release really challenging economic environments.

1839
01:27:52.640 --> 01:27:55.359
Seems to me like the economic environments got less challenging.

1840
01:27:55.399 --> 01:27:57.680
We sh would drop another twenty percent so we can

1841
01:27:57.720 --> 01:27:58.119
get in.

1842
01:27:58.920 --> 01:28:01.359
Yeah, it's a expensive there's a lot of it is

1843
01:28:01.439 --> 01:28:03.439
expensive growth priced in that stock.

1844
01:28:03.560 --> 01:28:05.520
I mean, like you said, what did a drop ten percent?

1845
01:28:05.520 --> 01:28:08.479
That there fifteen okay, fifteen percent last week and.

1846
01:28:08.439 --> 01:28:09.960
If you look at it in last month is still

1847
01:28:10.039 --> 01:28:10.920
up thirteen percent.

1848
01:28:11.079 --> 01:28:14.079
Yeah, it's I think this this keep coming, keep coming

1849
01:28:14.079 --> 01:28:16.800
down to a really different story at eighty bucks. Eighty

1850
01:28:16.800 --> 01:28:20.600
bucks you're like rarely excited about it, but you know,

1851
01:28:20.920 --> 01:28:23.279
the election was on the horizon. You don't quite know

1852
01:28:23.359 --> 01:28:26.159
which way you should be transitioning. And then it shot

1853
01:28:26.239 --> 01:28:29.039
up to one forty and you're like, well that's a

1854
01:28:29.079 --> 01:28:30.960
little out of that zone.

1855
01:28:31.039 --> 01:28:34.399
Just like a month too. Yeah, it's going and going

1856
01:28:34.439 --> 01:28:34.560
and go.

1857
01:28:35.920 --> 01:28:37.760
You know, we see more and more companies kind of

1858
01:28:37.760 --> 01:28:41.680
going to kind of having this backlash against woke and

1859
01:28:41.760 --> 01:28:45.760
everything woke Walmart of all companies, because you think if

1860
01:28:45.760 --> 01:28:48.079
anybody's going to be woke, it's gonna be Walmart. Right now.

1861
01:28:48.960 --> 01:28:51.159
You don't think so I was okay, I would think

1862
01:28:51.199 --> 01:28:52.000
Walmart would really.

1863
01:28:51.880 --> 01:28:54.439
Be people old Walmart, aren't they like the trumpet of

1864
01:28:54.520 --> 01:28:55.079
the masses.

1865
01:28:55.239 --> 01:28:57.479
I just think, for whatever reason I think of woke

1866
01:28:57.560 --> 01:29:00.199
is targeting. That's not even because of their last.

1867
01:29:01.439 --> 01:29:01.560
No.

1868
01:29:01.720 --> 01:29:03.600
No, before that, I would have thought that, no.

1869
01:29:03.920 --> 01:29:07.760
Fact that they got in trouble over the one thing. Anyway,

1870
01:29:07.960 --> 01:29:11.720
Walmart confirmed last week that they're ending some of their

1871
01:29:11.720 --> 01:29:15.960
diversity initiatives, removing some of the l g P t

1872
01:29:16.199 --> 01:29:21.039
Q related merchandise from the website, and winding down a

1873
01:29:21.079 --> 01:29:27.279
nonprofit that funded programs for minorities. I was surprised, I know,

1874
01:29:27.319 --> 01:29:29.239
I just kind of always think of Walmart as the

1875
01:29:29.279 --> 01:29:32.279
working man's still earn. I'm gonna go with the.

1876
01:29:32.239 --> 01:29:34.640
People who own Walmart. I'm pretty sure they're big Trump

1877
01:29:34.920 --> 01:29:35.600
being supportive.

1878
01:29:35.640 --> 01:29:36.239
Yeah. Probably.

1879
01:29:38.000 --> 01:29:41.159
Yeah, So that's that's why they would do that.

1880
01:29:41.279 --> 01:29:41.439
You know.

1881
01:29:41.520 --> 01:29:45.239
Something that was interesting is the peso against the dollar

1882
01:29:45.319 --> 01:29:48.840
continues to hit new highs, which means the peso is

1883
01:29:48.880 --> 01:29:50.880
weakening against the dollar. And I was talking a little

1884
01:29:50.880 --> 01:29:52.840
bit last week about how currencies go up and down.

1885
01:29:53.159 --> 01:29:55.920
The reason the peso continues to get weaker against the

1886
01:29:55.960 --> 01:30:00.880
dollar is the Mexicans elected a socialist resident, the woman

1887
01:30:01.399 --> 01:30:05.159
who has said that she's going to expand socialist projects,

1888
01:30:05.199 --> 01:30:07.880
which says they're going to spend more money, more money.

1889
01:30:07.960 --> 01:30:10.640
And then we elected a president who says we're not

1890
01:30:10.680 --> 01:30:12.840
going to spend more money, We're gonna cut up money

1891
01:30:13.399 --> 01:30:17.239
social Our dollar goes up in value, their dollar goes down, well,

1892
01:30:17.239 --> 01:30:19.039
pays so goes down in relation.

1893
01:30:18.760 --> 01:30:20.439
To all they exchange rate these days.

1894
01:30:20.560 --> 01:30:23.199
One it's one, it's twenty now one to twenty.

1895
01:30:23.319 --> 01:30:27.680
Okay. My grandparents used to winter in McAllen, Texas, which

1896
01:30:27.720 --> 01:30:29.960
is right on the border near the tip of Texas,

1897
01:30:30.319 --> 01:30:32.960
and they would bring back paysos and were for us kids,

1898
01:30:32.960 --> 01:30:35.840
and we've all we thought we were so rich. We'd

1899
01:30:35.880 --> 01:30:37.720
look them up, you know, I remember how you look

1900
01:30:37.720 --> 01:30:41.000
them up back then. But it was always it was

1901
01:30:41.039 --> 01:30:42.520
always twelve to a dollar.

1902
01:30:42.960 --> 01:30:45.720
Yeah, I mean, and it was it was seventeen to

1903
01:30:45.760 --> 01:30:46.880
a dollar at the beginning of the year.

1904
01:30:47.039 --> 01:30:47.399
Okay.

1905
01:30:47.720 --> 01:30:50.920
So it's up twenty percent year today. So it's quite

1906
01:30:50.920 --> 01:30:53.479
a bit cheaper for Americans to go down to Mexico

1907
01:30:53.479 --> 01:30:55.439
to buy things in relation now because of that.

1908
01:30:55.560 --> 01:30:57.199
One of what it is they exchange rate on the

1909
01:30:57.239 --> 01:30:59.560
Canadian dollar is still something in the eighty cents area.

1910
01:31:00.319 --> 01:31:02.079
The only reason I asked, because I grew up in

1911
01:31:02.119 --> 01:31:06.840
South Dakota and Canadian. We'd go to Canada, Canada, Canadians

1912
01:31:06.880 --> 01:31:11.760
would come to us. Yeah, and he used to be

1913
01:31:11.800 --> 01:31:12.439
dollar for dollar.

1914
01:31:13.119 --> 01:31:15.520
Yeah. We used to say, Canada has done really, really

1915
01:31:15.520 --> 01:31:18.159
bad on their policies. Right, they have to spend a

1916
01:31:18.159 --> 01:31:20.600
whole bunch of money. They're super socialists now, So their

1917
01:31:20.760 --> 01:31:24.960
dollar lost value against our dollar and that's that's why

1918
01:31:24.960 --> 01:31:27.680
it's worse now. So it's it's easy to see how

1919
01:31:28.479 --> 01:31:32.119
overtime government policies they really do impact the currencies and

1920
01:31:32.159 --> 01:31:33.920
those valuations and things like that.

1921
01:31:34.039 --> 01:31:36.439
Yeah, the socialism thing is not working that way home.

1922
01:31:36.479 --> 01:31:39.039
No socialism, their scoreboard isn't looking good.

1923
01:31:39.079 --> 01:31:40.279
I don't know who said it, but I think it

1924
01:31:40.319 --> 01:31:42.880
was Ever Jerkson, who's someone he probably had never heard of,

1925
01:31:43.159 --> 01:31:45.319
but he said the problem with socialism is eventually you

1926
01:31:45.399 --> 01:31:50.079
run out of other people's money, you know. I think

1927
01:31:50.119 --> 01:31:50.880
there's some truth to.

1928
01:31:50.920 --> 01:31:52.760
That that has no fundamental value.

1929
01:31:52.920 --> 01:31:56.399
No, what so socialism. I agree with you. We said

1930
01:31:56.479 --> 01:32:00.960
last week Target after their disappointing quarter, these declines in

1931
01:32:01.000 --> 01:32:04.199
the stock have been a long term opportunity in Oppenheimer agreed.

1932
01:32:04.640 --> 01:32:08.000
They made the retailer a top pick, citing their three

1933
01:32:08.000 --> 01:32:10.680
point five percent given a nice rally last week. I

1934
01:32:10.680 --> 01:32:13.479
think I think Stock picked up about ten percent on

1935
01:32:13.560 --> 01:32:16.079
the week, somewhere in that in that range.

1936
01:32:16.159 --> 01:32:17.920
And they're gonna get all that foot traffic from that

1937
01:32:18.000 --> 01:32:20.600
Taylor Swift album. Like Todd was talking about last week,

1938
01:32:20.720 --> 01:32:21.680
It's gonna be awesome.

1939
01:32:21.880 --> 01:32:25.159
She's so Cool'm such a swiftye. You know, I chieved

1940
01:32:25.199 --> 01:32:27.479
such a sweet gallo, so easy to share for her.

1941
01:32:27.760 --> 01:32:31.880
I don't know, maybe it's just me, apparently not. Last

1942
01:32:31.880 --> 01:32:34.000
week on the show, we talked about Stanley Drunken Miller,

1943
01:32:34.000 --> 01:32:36.399
who's the money manager, kind of the warm Buffett junior,

1944
01:32:37.159 --> 01:32:39.479
seventy one year old who runs billions of dollars, and

1945
01:32:39.520 --> 01:32:42.600
we said he was lowering up on the regional bank stocks.

1946
01:32:43.039 --> 01:32:45.119
And well, guess what. Monday, the group hit an eighteen

1947
01:32:45.159 --> 01:32:48.319
month high as they played catch up with the major banks,

1948
01:32:48.319 --> 01:32:51.000
which we pointed out on the show last week, a Stock,

1949
01:32:51.079 --> 01:32:54.159
you guys probably played with more than anybody's Robin hood.

1950
01:32:54.199 --> 01:32:56.159
What a week? Huh? What a what a month? What

1951
01:32:56.279 --> 01:32:59.640
a Since the election? I have you guys follow that

1952
01:33:00.079 --> 01:33:04.359
financial services company just it's quadrupled in the last twelve months.

1953
01:33:04.520 --> 01:33:07.399
He had a three year high last week after Morgan

1954
01:33:07.439 --> 01:33:10.640
Stanley became the latest in a growing group of analysts

1955
01:33:10.640 --> 01:33:14.760
to like the stock. Stock was up sixty percent in November.

1956
01:33:15.319 --> 01:33:17.319
I think that's a it's the same trade as coin.

1957
01:33:17.800 --> 01:33:20.199
If you saw a coin coin no coin, Oh yeah

1958
01:33:20.359 --> 01:33:24.600
see oyn coin based the company that they just shot

1959
01:33:24.720 --> 01:33:27.840
up like crazy. And I think it's because more people

1960
01:33:27.880 --> 01:33:29.960
are going to be buying crypto because of Trump's victory,

1961
01:33:30.399 --> 01:33:32.560
and people a lot of people buy crypto and Robinhood.

1962
01:33:33.079 --> 01:33:35.000
They don't think of it as a crypto exchange, but

1963
01:33:35.159 --> 01:33:37.159
I've known a lot of people that have bought in

1964
01:33:37.239 --> 01:33:38.439
their first crypto in Robinhood.

1965
01:33:38.479 --> 01:33:42.720
Why would you buy crypto as opposed to a crypto ETF.

1966
01:33:44.000 --> 01:33:46.000
Because you're gambling crypto a gamble.

1967
01:33:46.079 --> 01:33:49.000
But they moved together in theory, right, No, no.

1968
01:33:48.800 --> 01:33:50.880
No, you can make a one hundred and twenty percent

1969
01:33:50.920 --> 01:33:53.359
on one day using one coin. You might make ten

1970
01:33:53.359 --> 01:33:57.720
percent on an ETFs when you could do one twenty.

1971
01:33:57.800 --> 01:33:59.319
There's more to crypto than just bitcoin.

1972
01:33:59.359 --> 01:34:03.399
Also, yeah, but cod anything beyond you know the squirrel,

1973
01:34:04.079 --> 01:34:06.399
but anything beyond bitcoin is truly gambling.

1974
01:34:06.479 --> 01:34:09.039
Just I U, I agree with you that that's what

1975
01:34:09.079 --> 01:34:09.560
they're doing.

1976
01:34:09.600 --> 01:34:12.199
They're just not buying anything but bitcoin, really, are they No.

1977
01:34:12.239 --> 01:34:14.359
They're buying a lot of crazy stuff.

1978
01:34:14.359 --> 01:34:16.399
There's a coin that's been going up that's called Peanut

1979
01:34:16.399 --> 01:34:16.720
the Squirrel.

1980
01:34:16.800 --> 01:34:19.680
Peanut the Squirrel. You remember the whole because it's that

1981
01:34:19.720 --> 01:34:20.680
peanut the squirrel.

1982
01:34:21.000 --> 01:34:24.039
Squirrel is that squirrel that got killed in New York.

1983
01:34:24.159 --> 01:34:27.119
Yes, yeah, they made a coin after him. They made

1984
01:34:27.119 --> 01:34:30.479
a coin after a mean pepe You know. It was

1985
01:34:30.560 --> 01:34:32.159
up like one hundred and forty percent the day.

1986
01:34:32.000 --> 01:34:33.840
You could trade. You could trade all these coins on

1987
01:34:33.920 --> 01:34:37.520
robin Hood. Just literally robin Hood is like the brokerage

1988
01:34:37.560 --> 01:34:38.600
of the retail investors.

1989
01:34:38.640 --> 01:34:40.399
I guess I think is coin.

1990
01:34:41.079 --> 01:34:43.600
That's why so much Yeah I could turn with crypto

1991
01:34:43.760 --> 01:34:48.000
is that it can get stolen, whereas the isn't going

1992
01:34:48.079 --> 01:34:48.520
to be stolen.

1993
01:34:48.600 --> 01:34:50.479
But no, but when you have these robin Hood apps

1994
01:34:50.520 --> 01:34:52.560
or coin base apps, you're not gonna it's not gonna

1995
01:34:52.560 --> 01:34:56.159
get stolen from there. It's like you trusting Merrill Lynch

1996
01:34:56.159 --> 01:34:56.720
to hold your ass.

1997
01:34:56.800 --> 01:34:56.960
Yeah.

1998
01:34:56.960 --> 01:34:59.199
I was gonna say, it's like a client fidelity. They're

1999
01:34:59.239 --> 01:35:01.880
they're in surre Well, robin Hood's insured.

2000
01:35:01.560 --> 01:35:03.720
Too, but probably not on a bitcoin, is it.

2001
01:35:04.159 --> 01:35:06.479
On the crypto it's an asset. You're still insured.

2002
01:35:06.560 --> 01:35:07.720
I mean not sure what.

2003
01:35:07.840 --> 01:35:10.079
I'm sure it gets a lot, not a loss of money.

2004
01:35:10.159 --> 01:35:13.239
Not loss of money, yeah, exactly. So that's why most

2005
01:35:13.279 --> 01:35:15.720
people like to use the exchanges because if they forget

2006
01:35:15.720 --> 01:35:17.399
their password, they just go to robin Hood and hey,

2007
01:35:17.399 --> 01:35:19.720
I forgot my password, here's my information giving if you

2008
01:35:19.760 --> 01:35:22.479
have it in your own wallet and you lose your password,

2009
01:35:22.520 --> 01:35:24.199
it is what it is. So most people they like

2010
01:35:24.239 --> 01:35:26.560
to go to these robin Hood or coin base because

2011
01:35:26.560 --> 01:35:29.520
it's easier to use. But also robinhood has so much

2012
01:35:29.520 --> 01:35:31.800
other things other than just crypto that you know, they

2013
01:35:31.800 --> 01:35:33.960
have this new card they're coming out with, but they

2014
01:35:34.000 --> 01:35:37.159
have fractional investing as well. So for a retail person,

2015
01:35:37.239 --> 01:35:39.800
like we're not telling someone you can invest, you know,

2016
01:35:39.880 --> 01:35:41.920
twenty two cents into Tesla, but you can do that

2017
01:35:41.960 --> 01:35:43.880
on robin Hood if you really wanted to.

2018
01:35:44.079 --> 01:35:46.600
Okay, so last week I was talking about the credit

2019
01:35:46.600 --> 01:35:48.199
card that they're coming out with, and so you're gonna

2020
01:35:48.199 --> 01:35:50.640
be able to buy fractional shares through your rewards points

2021
01:35:50.640 --> 01:35:52.319
that they're getting. You get two percent back. I could

2022
01:35:52.359 --> 01:35:54.640
just throw it into applestock pretty pretty easily.

2023
01:35:54.800 --> 01:35:56.920
That's amazing and they're also part of this twenty four

2024
01:35:56.960 --> 01:35:58.560
hour exchange that they're talking about.

2025
01:35:58.960 --> 01:35:59.520
I'm sure.

2026
01:36:00.039 --> 01:36:02.399
Anyway, we're coming to the end of the Money Matter Show.

2027
01:36:02.439 --> 01:36:04.720
We thank you for joining us on this Thanksgiving weekend.

2028
01:36:04.800 --> 01:36:07.359
We hope it was fantastic for you. We all want

2029
01:36:07.399 --> 01:36:09.600
to be happy, and of course we want to be healthy,

2030
01:36:09.640 --> 01:36:12.680
because being healthy makes happy a lot easier. At the

2031
01:36:12.720 --> 01:36:14.680
end of the day, what Greenberg Financial is trying to

2032
01:36:14.680 --> 01:36:17.439
be is profitable next week.