Nov. 24, 2024

Market Pulse: Navigating Trends and Opportunities

Market Pulse: Navigating Trends and Opportunities
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Market Pulse: Navigating Trends and Opportunities
Market Pulse: Navigating Trends and Opportunities

Welcome to Money Matters, brought to you by the Greenberg Financial Group! In this information-packed episode, we dive into NVIDIA's earnings report and explore how the world’s largest company is shaping market dynamics.
We also take a closer look at...

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Welcome to Money Matters, brought to you by the Greenberg Financial Group! In this information-packed episode, we dive into NVIDIA's earnings report and explore how the world’s largest company is shaping market dynamics.
We also take a closer look at the latest moves in key markets, including gold, oil, Bitcoin, and more, keeping you informed on the trends that matter most. Beyond the numbers, we explore hot topics like nuclear energy, electric vehicles, streaming, and retail, breaking down what’s next for these transformative industries.
Additionally, we discuss the state of the housing market and share insights on staying cautious during frothy market conditions. Learn why maintaining your risk tolerance is critical and how chasing short-term gains can derail your long-term strategy.
Whether you're a seasoned investor or just looking to understand the markets better, this episode is packed with actionable insights and thoughtful analysis. Tune in now and stay ahead in the financial game!

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Good morning.

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You're listening to the Money Matters Show, brought to you

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by Greenberg Financial Group, broadcast from the world headquarters of

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Greenberg Financial Group, which aka Financial Plan Central.

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Right, you guys have been so big. I'm here with

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Sebastian Borsini, I'm here with Todd good Junior. I'm Dave Sherwood.

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The Greenberg boys are out of the office. The energy

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that the Dean has right now is blowing me away.

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Why because of the big playoff game.

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You know, you got the football thing going and they

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won last week, which is which was great. First time

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it made the news. First time what fifty.

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Five years or nineteen seventy something.

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Yeah, that Tucson High has actually won a playoff game,

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and they have another playoff game tonight. We record the

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show on Friday when they have another playoff game tonight.

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They're not too optimistic about that. But the weird part

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about this this is also the time when La Poloma

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has their annual Dove Hunt, which is a member of

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guest golf tournament. It's a big deal. I've been going

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on for a couple Decade's a pretty big deal. So

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what Dean's doing is he's going up there in the

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afternoon and playing golf, and then he's leaving there and

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going down to Tucson High coaching the kids, and then

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going back to La Palma for the festivities that's supposed

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to go on for. That's two days he's doing that.

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I talked to him this morning Friday morning, and he

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was exhausted and one more did he do it?

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It would be a really great win for Tucson High.

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If you know anything about Arizona High School football, Phoenix

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is always the you know, the big bully around around town.

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So the fact that they're gonna come down and have

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to come down to Tucson and playing a game is

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a big deal. And I hope that we could win.

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That's a win right there. Just making them drive.

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Probably you just you just know how they're thinking. They think, oh,

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we got to drive down to Tucson and whoop some butt. Well,

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hopefully we could turn it around.

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Yeah. I mean they're coming from like Buckeye or something.

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I mean, there was Glendale.

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That's not the good year.

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I'm certain good.

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It's not just Phoenix, it's West Phoenix. Right, They're coming

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a long way.

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To Hey, but they did it. They have that new

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road on that connects to West Phoenix.

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I don't know if you've ever Oh no, absolutely, the

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two two makes it way. Yeah, it makes fantastic. I

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love the one on one and the two oh two

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and those are those are really nice. Those are really

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good headline this.

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Week before you want going to do the disclaimer.

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First, like you're we're supposed to do well.

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Let's get out of the way, I think, get go.

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This show is sponsored by the Green brig Financial Group

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and you can listen on seven to ninety kN SC

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or iHeartRadio. The show discusses different investment products and strategies.

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Every product and strategy have some type of inherent risk,

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and we strongly encourage our listeners to properly understand the

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risk to determine whether to buy, sell, or hold. Show

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has been on air for over thirty years. The Green

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Briok Financial Group is registered with the SEC and a

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member of FINERA and SIPIK. Visit our website at Greenbriak

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Financial dot com for some more information. If you ever

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want to question answered on air, you could write me

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at contact at greenbrik Financial dot com or give us

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a call five two zero five four four four nine

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zero nine.

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You're on a roll. Wanted to tell them what the

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market did this week.

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Market this week, the Dow it was up two percent,

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the S and P five hundred was up one point

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seven percent, the Nasdaq was up one one point seven percent.

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The Russell two thousand big winner this week four point

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five percent, and the equal weighted S and P two

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and a half percent. Cool to see that higher than

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S and P five hundred. Actually, equ weighted.

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Russell two thousand had been pretty much lagging the whole year,

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and about halfway through, if my memory shows me correctly,

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it was unchanged on the year, with the S and

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P up thirteen fourteen percent. Russell has since been gaining ground.

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S and P's up twenty five for the year, dolloup

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seventeen for the year, Russell up nineteen for the year.

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Kind of contradictory to what of what I've been taught

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in school. You know, rates are higher, that's generally a

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bad thing for small cap companies, and small cap companies

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this week led the way.

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I agree, and I think probably a bigger thing in

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my experience is the economic weakness. If there's economic weakness,

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that small caps tend to get sold off because of

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concerns about bankruptcy, and in.

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This case the first time in a long time, rates

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of growing up because of the fact that the economy

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is strong. True, it's not because there's huge inflation out

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of nowhere and you have to raise rates to come

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out that, which was the case in twenty two and

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twenty three. This year, it's more of the rates are

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going up because the Fed's actually lowered them. It's not

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the Fed's job, it's the market repricing the market. So

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it's really interesting, and that's why mortgage rates are continuing

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to increase. They're not six point eighty four for the

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Freddy mortgage Freddy mac mortgage rates. So we're gonna continue

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to see rates ticking higher. But it's because the economy

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is stronger than expected and that's not a bad thing

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versus the opposite of lowering rates because the economy is

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increasingly worse. That's where we would probably see this small

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caps off.

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What did the tenure do in the week?

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Was I higher the ten year? Yeah? Flat?

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It was flat flat?

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Yeah, ten year didn't move. In fact, that was one

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of the things I thought helped the market go higher

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this week is the interest rate calmed down, right, just

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didn't really do much. And I keep seeing a lot

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of different recommendations, whether it be Stanley Black and Deck

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or Home Deep or lows based upon a resurgence in housing.

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I'm not seeing that locally. And I'm talking to my

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daughter in California. It's not happening there either. I've used

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the client that has to sell her home for financial

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reasons for a number of months now, and she started

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off in June at five to eighty, and then went

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to five point fifty, and then five twenty five by

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blah blah blah, you know, on and on and on,

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and here we are five months later, she's at four

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point fifty. Just turned down an offer for three seventy five.

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Well again, people are still waiting on the sidelines, right.

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They thought, with the FED cut, with the rate cut,

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the race we're gonna go down. They did nothing but

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tick higher.

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You would expect this time of the year also to

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be somewhat slow because people have other things on their

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minds besides housing. I'm not seeing any indication that the

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housing market is recovering yet. I'm seeing a continuation of

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the slow drift south, which you expect. I mean, when

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the stock market goes up as much as real estate

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went up over the last few years, you expect to

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pull back. It's natural. It's a correction as part of

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going higher. I mean, real estate always goes higher over time, always,

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but it's natural, I think to have a correction. I

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think we're in the middle of a correction right now.

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I'm seeing a lot more inventory than there has been.

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I went by a subdivision the other day that I

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know has forty homes, you know, three of them for sale,

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three signs on the street, houses for sale. I'm seeing

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homes for sale all over town and I'm not seeing

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any soul times, and generally you'll see soul sign anyway.

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That kind of digress there a little bit. But I

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don't see a recovery in housing yet. I see prices

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continuing to get a little bit better if you're a buyer,

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and that's part of the natural ebb and flow, don't

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you think time.

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Yeah, I think at the end of the day, you

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have to always look at how expensive a home is

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and also the supply and demand of it. And right now,

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the only people that really have an advantage in this

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market are the cash buyers. Talking with real estate agents.

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Just had one end last week. And that's what she

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was saying, is anyone who has cash and they can

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buy all in the mortgage rates aren't impacting them, right,

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So they have a whole litter to pick from. But

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the people who have to buy the home through financing

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is a huge deal about the rate, and so that's

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just taking buyers away.

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And that's that's a good point. Think about all the

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people that were waiting on the sidelines waiting for these

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rates to drop and then they got priced out of

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the market because the rates went higher, correct, right?

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Correct?

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How many How many people did that have to happen

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to I'd say it probably good amount.

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And to your point, Dave, housing always goes higher. And

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if you think it's about five percent, and you know

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annual return on average these houses went up twenty five

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percent almost year over year for two years, you're gonna

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have some type of pullback. Yeah, you can't expect that

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to continue. Sure, we printed a lot of money and

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that's why they increased by so much. If you have

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a hard asset, fixed supply of something or semi fix

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versus something that's just getting printed, you know, obviously the

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thing that's fixed or semi fix is going to go

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up in value, and that's what we saw across the

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board for all goods and services and including housing. But

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at a certain point there's an equilibrium that gets found

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because of supply and demand, and that's what we're seeing

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here now.

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Yeah, I think it's just an adjustment. It's not anything

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to panic about. It's just an adjustment after a huge, short,

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huge gained in the very short period of time.

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And realistically, I think rates dos still need to be

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higher for longer. You know, I don't think that we're

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restricted to restrictive enough. What did we just see, you know, rates,

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If rates go up, I'm sorry.

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But I also think investors are now realizing that it's

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not you know how people were really getting investment homes

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or investment properties because of the rent arbitrage that you

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could have, but because of rates now being so highest sortgage,

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I mean, you have to really be paying a house

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outright with cash to be able to make a profit

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on a rent these days.

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To your point, to have a good friend who's one

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of the top realtors, if not the top realtor in Tucson,

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and he deals pretty much exclusively and high end homes,

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and he posted on Facebook every time he sells something.

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Probably sold three homes in November, more than a million

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and a half. It was a two million in there,

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two and a half million. I mean, you're right to

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your point. People that have cash are coming to town.

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And you know, back in the day and not that

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long ago, you never saw a million dollar sale Tucson

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very very rare to see a million dollar sale. Now

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two and three million dollar sales not that in commons typical. Yeah,

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and again housing always goes higher over time. Got a

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kind of a battle for what's the big story of

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the week, But I think probably the biggest thing we

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were looking at last week, and probably the most important

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news event of the entire week, was Nvidia's earnings. Reason being,

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the market has been driven by AI, and Nvidia drives AI,

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so any indication that things are slowing down at in

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video would be negative for the tech sector and certainly

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negative for the overall market. The stock did move lower

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on Monday after there was a report that their Blackwell

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chip was overheating and that raised concerns about delays to consumer. Interestingly,

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that sent to VRT Veritas, which is one of our

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favorite stocks. They provide pardon.

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Our favorite stock that we don't own, a.

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Favorite stock that we don't have a big position. Yeah,

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because we can't buy it right right. Well, you always

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say as a money manager, be patient. You have to

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be patient. There's always another train coming. This is a

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train we'd like to be on, but it just doesn't

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seem to want to give us a break.

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It's not coming to the station.

233
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Now. Jump fifteen percent on Thursday. This is a company

234
00:10:58.759 --> 00:11:05.000
that makes the cool apparatus that surrounds these red hot

235
00:11:05.159 --> 00:11:09.559
literally chips. They're like racks yeah, like yeah, shelves, yeah,

236
00:11:09.960 --> 00:11:13.960
racks of cooling racks that allow these chips to run.

237
00:11:14.480 --> 00:11:16.799
And v rt is was one of the big East

238
00:11:16.840 --> 00:11:20.000
and when they when that news about the blackball chip

239
00:11:20.039 --> 00:11:22.840
overheating came out, and Video stock dipped, and of course

240
00:11:22.879 --> 00:11:25.879
the vr T stock went hire and the next day

241
00:11:25.879 --> 00:11:29.799
it was up fifteen percent. On Wednesday, the and Video

242
00:11:29.879 --> 00:11:32.360
did come out with their earned their court earnings for

243
00:11:32.399 --> 00:11:38.519
the most recent quarter sales earnings. Outlook, everything was above expectations.

244
00:11:38.559 --> 00:11:43.960
Not dramatically above expectations, but above expectations. With that said,

245
00:11:44.000 --> 00:11:47.440
the stock ended the week flat. Their biggest problem and

246
00:11:47.600 --> 00:11:51.559
Video's biggest problem, What a great problem to have is demand.

247
00:11:52.000 --> 00:11:55.120
There is just simply too much demand. They can't they

248
00:11:55.200 --> 00:11:59.440
can't meet the demand. Yeah. Fly constraints, yeah, supply constraints, right, not.

249
00:12:00.120 --> 00:12:02.200
Deuce enough of what everyone wants?

250
00:12:02.440 --> 00:12:04.240
Yeah, and can make the sales.

251
00:12:04.240 --> 00:12:06.960
And you have this backlog that you know, it looks nice,

252
00:12:07.039 --> 00:12:09.879
but also it's like, well, you're missing out on more

253
00:12:09.919 --> 00:12:10.720
potential sales.

254
00:12:11.240 --> 00:12:14.200
Sure, and then you go quickly spend billions of dollars

255
00:12:14.240 --> 00:12:17.480
to build another plant to make more and by the

256
00:12:17.519 --> 00:12:19.679
time that plant gets up and running and it's over.

257
00:12:20.000 --> 00:12:22.000
Yeah, it's over. You have another competitor in there.

258
00:12:22.080 --> 00:12:22.879
Yeah.

259
00:12:22.919 --> 00:12:26.080
And we saw that also with the competition of Amazon

260
00:12:26.879 --> 00:12:29.840
starting to try to do their own thing. I think

261
00:12:29.879 --> 00:12:34.440
also Google trying to produce their own chips that would

262
00:12:34.480 --> 00:12:37.639
kind of take away some of their customer bases. The

263
00:12:38.120 --> 00:12:43.799
Amazon currently their biggest customers Microsoft. Twenty percent of videos

264
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revenue from customers come from Microsoft.

265
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Yeah.

266
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I thought that was a pretty.

267
00:12:48.480 --> 00:12:51.320
Big that's a big number, a big number. Another big

268
00:12:51.360 --> 00:12:54.440
story during the week was on Tuesday, when Putin started

269
00:12:54.519 --> 00:13:00.120
talking nuclear war again. Market opened. The Dow opened on

270
00:13:00.159 --> 00:13:05.000
five hundred points, and quickly investors remembered, wait a second,

271
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he does this all the time. You know, he's threatening

272
00:13:07.960 --> 00:13:10.879
new anytime his back gets against the wall, up, we're

273
00:13:10.919 --> 00:13:15.159
gonna or the nuclear wars, it's gonna be whatever. Whatever.

274
00:13:15.480 --> 00:13:18.600
And the market actually closed Tuesday higher after opening down

275
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five hundred points.

276
00:13:19.399 --> 00:13:21.559
Well, Biden's definitely trying to get us in a war

277
00:13:21.639 --> 00:13:22.799
before he leaves office.

278
00:13:23.799 --> 00:13:24.720
Yeah, what's that about.

279
00:13:24.720 --> 00:13:27.080
I mean, why all of a sudden we're like, yeah, Ukraine,

280
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you can use to use our missiles. And it's like

281
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we've been saying that we're not allowed to They're not

282
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allowed to use our missiles for a reason, and then

283
00:13:33.240 --> 00:13:34.799
all of a sudden he's like, yeah, go for it.

284
00:13:35.360 --> 00:13:38.519
It's like, why is he still making decisions? We got

285
00:13:38.519 --> 00:13:40.159
to like get him out of there or something like.

286
00:13:40.200 --> 00:13:41.399
This is crazy.

287
00:13:41.840 --> 00:13:45.440
Speaking of a Biden decisions. Did you see on I

288
00:13:45.519 --> 00:13:47.960
think it was was Friday where the news broke about

289
00:13:48.000 --> 00:13:52.600
the Biden State Department. According to Smart News right, the

290
00:13:52.639 --> 00:13:56.559
Biden Harris State Department hosted a series of in house

291
00:13:56.919 --> 00:14:02.559
therapy sessions in wake up Trump's victory. Now, what happens

292
00:14:02.559 --> 00:14:05.480
if there's something actually serious happens in the world, You know,

293
00:14:05.600 --> 00:14:08.399
if you've got to have therapy sessions because you're concerned

294
00:14:08.440 --> 00:14:11.360
about all of these crazy things Trump's going to do.

295
00:14:11.519 --> 00:14:14.320
And remember this is Trump two point zero. This isn't

296
00:14:14.360 --> 00:14:17.320
the first time he's ever been president, and all of these,

297
00:14:18.720 --> 00:14:22.000
all of the things that the left used to diminish

298
00:14:22.080 --> 00:14:26.000
him during the election are coming out as facts in

299
00:14:26.039 --> 00:14:29.919
these people's minds. It's sad. We've had people that can't sleep,

300
00:14:30.000 --> 00:14:33.200
you know, because you see she hadn't one last week

301
00:14:33.240 --> 00:14:36.279
that she just couldn't sleep. Yeah, can all these concerned

302
00:14:36.279 --> 00:14:38.080
about all these things are going to happen.

303
00:14:37.879 --> 00:14:40.639
And the biggest concern being the fact that they're going

304
00:14:40.679 --> 00:14:42.399
to cut social Security by one hundred.

305
00:14:42.120 --> 00:14:44.039
Percent, cut all security eliminated.

306
00:14:44.120 --> 00:14:45.399
I haven't heard that once.

307
00:14:45.840 --> 00:14:48.759
Oh you haven't any election. Didn't hear Harry's talking about that?

308
00:14:49.120 --> 00:14:52.240
Well, I I never saw a real plan for it.

309
00:14:52.360 --> 00:14:55.159
No, no, no, no, Well Trump's going to cut social

310
00:14:55.159 --> 00:14:56.279
security in medicare.

311
00:14:56.840 --> 00:14:57.120
Yeah.

312
00:14:57.440 --> 00:14:59.559
Really, and these people believe that he is going to

313
00:14:59.600 --> 00:15:02.639
do that. And wasn't he president for four years of war?

314
00:15:02.759 --> 00:15:05.200
Four years and nothing like that happened, you know, none

315
00:15:05.200 --> 00:15:05.399
of that.

316
00:15:05.480 --> 00:15:07.840
It's also solved until twenty thirty two. So why would

317
00:15:07.879 --> 00:15:10.000
he just all of a sudden Do you think that like, oh,

318
00:15:10.000 --> 00:15:12.759
this is my issue. I need to make a stand stagutory.

319
00:15:12.879 --> 00:15:16.679
You can't make a presidential social security. Are you kidding me?

320
00:15:16.840 --> 00:15:19.320
Can you imagine the outcry? Can you imagine what happened

321
00:15:19.360 --> 00:15:22.080
in this country if the Trump said I'm going to

322
00:15:22.200 --> 00:15:23.879
drop soldier security.

323
00:15:24.440 --> 00:15:26.080
I almost feel bad for them, Like.

324
00:15:26.159 --> 00:15:28.559
I feel terrible honestly that you're that.

325
00:15:28.399 --> 00:15:29.519
The media has done to them.

326
00:15:29.600 --> 00:15:31.879
Yeah, that you're that bollised by the news.

327
00:15:31.919 --> 00:15:33.360
Anyways, do you think the Dean will give us some

328
00:15:33.360 --> 00:15:34.399
mental health the next week?

329
00:15:36.279 --> 00:15:38.919
Another big story during the week, which was not as

330
00:15:38.960 --> 00:15:44.000
surprise at all as Matt Gates. You remember he was

331
00:15:44.000 --> 00:15:47.960
selected by Trump to to be the attorney general. In

332
00:15:48.039 --> 00:15:51.000
my mind that that had no chance of ever happening.

333
00:15:52.039 --> 00:15:56.080
I think Trump was Trump rewards loyalty, and he said, Matt,

334
00:15:56.120 --> 00:15:57.879
you've been loyal to me, You've been a good soldier.

335
00:15:58.039 --> 00:16:01.159
I'm going to nominate you for Attorney General, knowing that

336
00:16:01.440 --> 00:16:04.840
it's probably not going to happen, and he withdrew his

337
00:16:04.919 --> 00:16:09.080
nomination on with that, but he resigned Congress, so he's gone.

338
00:16:10.360 --> 00:16:12.440
So I know, a world without mag Gates, I don't know,

339
00:16:12.480 --> 00:16:13.399
it's gonna be kind of different.

340
00:16:13.480 --> 00:16:14.440
Huh.

341
00:16:14.480 --> 00:16:18.840
And then Todd one you were talking about on Friday, Gensler. Yeah,

342
00:16:18.879 --> 00:16:22.799
the SEC chairman Gendler stepping down. Now that's not a

343
00:16:22.840 --> 00:16:26.120
shocker really because he was going to get replaced Trump

344
00:16:26.159 --> 00:16:28.600
would Trump would have gotten rid of him. But give

345
00:16:28.600 --> 00:16:31.440
me your take on what that means to the market.

346
00:16:31.759 --> 00:16:34.720
Yeah, Well, especially what it means for the crypto market,

347
00:16:34.799 --> 00:16:39.080
because pretty much everything but Bitcoin has been waiting regulations

348
00:16:39.120 --> 00:16:41.919
so it can actually do what they want to be

349
00:16:42.039 --> 00:16:45.559
done in different type of coins. And really it's because

350
00:16:45.600 --> 00:16:48.240
all other coins other than Bitcoin are right now classified

351
00:16:48.240 --> 00:16:51.720
as securities, which means you have to have a perspectus,

352
00:16:51.720 --> 00:16:53.960
you have to go through what ETFs and mutual funds

353
00:16:54.000 --> 00:16:55.840
have to go through and things like that, and that's

354
00:16:55.879 --> 00:16:57.919
pretty much impossible for any of these coins to be

355
00:16:57.960 --> 00:17:00.360
able to do. But if you have a new SEC

356
00:17:00.600 --> 00:17:03.720
chairman in here that maybe relaxes some of these regulations,

357
00:17:04.000 --> 00:17:06.640
it allows some of these coins to maybe get away

358
00:17:06.680 --> 00:17:08.880
with some of the stuff that they want to. And

359
00:17:09.400 --> 00:17:12.960
for me, personally, I don't really trust anything other than Bitcoin,

360
00:17:13.000 --> 00:17:14.799
and I think the only reason Bitcoin was the only

361
00:17:14.839 --> 00:17:17.799
coin that was regulated and as actually classified as a

362
00:17:17.799 --> 00:17:20.680
commodity is because no one actually controls it. I think

363
00:17:20.680 --> 00:17:23.599
if a group of people control something, it sounds a

364
00:17:23.640 --> 00:17:26.720
lot like a company or a mutual fund. You can't

365
00:17:26.759 --> 00:17:30.279
really say that it's a commodity. So that to me,

366
00:17:30.400 --> 00:17:33.480
I mean, I think it should have different regulations than Bitcoin.

367
00:17:33.519 --> 00:17:36.720
All these other coins should have different regulations, But potentially

368
00:17:36.799 --> 00:17:38.759
a new SEC chairman doesn't see it like that, and

369
00:17:39.039 --> 00:17:42.680
you be seeing things like Ripple and Ethereum really take

370
00:17:42.720 --> 00:17:45.200
off this week because of that. But also, you know,

371
00:17:45.279 --> 00:17:48.240
Bitcoin the king has been leading the charge and that's

372
00:17:48.240 --> 00:17:51.200
what normally brings all these other alt coins along with it.

373
00:17:51.559 --> 00:17:54.200
And you know, you see Bitcoin just nearing the one

374
00:17:54.279 --> 00:17:58.440
hundred k mark, hit ninety nine five on Friday, and

375
00:17:58.839 --> 00:18:01.759
it's up another temper sent this week, so it continued

376
00:18:01.839 --> 00:18:05.440
to climb higher, and a lot of that other news

377
00:18:05.480 --> 00:18:07.680
around bitcoin this week, and the first time ever this

378
00:18:07.759 --> 00:18:13.680
has been allowed, the Nasdaq Stock Exchange started trading options

379
00:18:13.720 --> 00:18:16.799
on ibit, which is the black Rock etf. The next day,

380
00:18:16.799 --> 00:18:19.640
the New York Stock Exchange approved all options for all

381
00:18:19.640 --> 00:18:22.599
the other crypto spot ETFs that are on the New

382
00:18:22.680 --> 00:18:24.960
York Stock Exchange, so you can now buy options, which

383
00:18:26.119 --> 00:18:28.480
it sounds like it could increase volatility, but also could

384
00:18:28.480 --> 00:18:31.839
help decrease volatility over time as well, because you can

385
00:18:31.920 --> 00:18:34.680
now sell calls on biitcoin positions and things like that.

386
00:18:34.839 --> 00:18:37.759
So it will be a very interesting space moving forward,

387
00:18:37.759 --> 00:18:39.480
and it's a new way to bet on price action

388
00:18:39.559 --> 00:18:42.559
for bitcoin. It adds more liquidity into the industry. So

389
00:18:43.000 --> 00:18:46.240
it's it's just a very new space that's ever evolving,

390
00:18:46.279 --> 00:18:48.319
and so this new SEC chairman is going to play

391
00:18:48.319 --> 00:18:49.079
a big part in that.

392
00:18:49.240 --> 00:18:52.680
Even new inverse products in bitcoin, right, I didn't see

393
00:18:52.680 --> 00:18:58.039
that one micro strategy well, I'm sorry, not inverse leverage.

394
00:18:58.200 --> 00:19:00.480
Leverage leverage, yeah, I mean, if we we we've seen

395
00:19:00.519 --> 00:19:04.640
micro strategy absolutely take off. I mean this thing is

396
00:19:04.720 --> 00:19:06.920
up I think seven hundred percent over the last year.

397
00:19:07.480 --> 00:19:10.599
And what this company does is they issue debt to

398
00:19:10.839 --> 00:19:14.119
shareholders through bonds, and they take that money and buy

399
00:19:14.119 --> 00:19:17.160
bitcoin with it. It's pretty much a currency trade against

400
00:19:17.200 --> 00:19:19.960
the dollar and buying bitcoin. And it didn't work out

401
00:19:20.000 --> 00:19:22.039
for them for two years. Right from twenty twenty two

402
00:19:22.079 --> 00:19:24.839
to twenty three, bitcoin is going down, so micro strategy

403
00:19:24.880 --> 00:19:27.759
got absolutely hammered. But then when bitcoin started rising, you

404
00:19:27.759 --> 00:19:30.000
have the opposite effect and you kind of see how

405
00:19:30.079 --> 00:19:32.799
micro strategy is up almost two x whatever bitcoin is

406
00:19:32.839 --> 00:19:36.160
on a certain day, and it's because they're a company.

407
00:19:36.400 --> 00:19:39.160
Older assets are always traded at a premium. The market

408
00:19:39.200 --> 00:19:42.200
always puts assets of a company at a premium.

409
00:19:42.519 --> 00:19:44.880
A spot. Bitcoin ETF doesn't have a premium. It's spot

410
00:19:44.960 --> 00:19:48.119
for a reason. It's the actual exchange price. So this

411
00:19:48.640 --> 00:19:50.759
micro strategy is actually kind of like it's acting as

412
00:19:50.839 --> 00:19:53.039
if it's a leverage bitcoin product because that's all they do.

413
00:19:53.039 --> 00:19:54.960
They just hold bitcoin on their balance sheet pretty much.

414
00:19:55.000 --> 00:19:57.160
They only make a couple hundred million from their actual

415
00:19:57.960 --> 00:20:03.200
business itself. That actually, you know, does business things vast majority.

416
00:20:03.200 --> 00:20:05.799
They made almost five billion dollars last quarter just holding bitcoin.

417
00:20:06.680 --> 00:20:10.799
Absolute, absolutely amazing. What's happened to bitcoin since the election? Now,

418
00:20:10.839 --> 00:20:13.359
there was a there was a talk that Trump would

419
00:20:13.400 --> 00:20:15.640
be more friendly towards bitcoin. Never mind that a year

420
00:20:15.640 --> 00:20:19.119
and a half ago he called it a scam. So

421
00:20:19.680 --> 00:20:22.319
where is he now? Is he a bitcoin supporter or

422
00:20:22.400 --> 00:20:25.880
is it a scam? Everybody believes he's a bitcoin supporter,

423
00:20:26.000 --> 00:20:28.559
and he's gonna do all kinds of things to make

424
00:20:28.599 --> 00:20:33.240
bitcoin fly, and they've been bidding that digital currency up

425
00:20:33.359 --> 00:20:35.839
like there's no tomorrow. I think it's up what sixty

426
00:20:35.880 --> 00:20:36.920
percent since the election?

427
00:20:37.559 --> 00:20:39.640
Yeah, I mean it's up now one hundred and thirty

428
00:20:39.680 --> 00:20:43.519
percent year to date, and I think, yeah, it was

429
00:20:43.640 --> 00:20:46.039
up fifty percent year to date before the election.

430
00:20:46.200 --> 00:20:49.039
So okay, yeah, I think it was around sixty grand.

431
00:20:49.079 --> 00:20:51.319
Wasn't around sixty thousand dollars and now it's one hundred

432
00:20:51.519 --> 00:20:55.720
thousand dollars, so about sixty percent since the election. You know,

433
00:20:55.960 --> 00:20:57.680
you wonder where it's going to go. And I mean

434
00:20:57.759 --> 00:21:01.599
it absolutely is a speculative as things come. I mean,

435
00:21:01.640 --> 00:21:04.160
I was on todd today. This is worth somewhere between

436
00:21:04.160 --> 00:21:07.200
twenty dollars and and a million, I don't know.

437
00:21:07.400 --> 00:21:11.240
Yeah, And I personally think almost all bull runs of

438
00:21:11.319 --> 00:21:15.000
bitcoin has six to seven thirty percent drops in the

439
00:21:15.039 --> 00:21:17.519
bull run itself, so even when it goes up, it

440
00:21:17.559 --> 00:21:20.920
has really bad drops. But when the big drops happen

441
00:21:21.039 --> 00:21:23.400
is when the when the craze, when it really tops out,

442
00:21:23.680 --> 00:21:25.759
and then you're gonna this thing could go up to

443
00:21:25.799 --> 00:21:27.480
one twenty and then go all the way back down.

444
00:21:27.279 --> 00:21:30.119
The fifty k right, absolutely, absolutely.

445
00:21:29.720 --> 00:21:33.160
Very easily. So is there an opportunity to get lower? Possibly?

446
00:21:33.240 --> 00:21:35.599
Will it go to even higher one twenty? Possibly? You

447
00:21:35.599 --> 00:21:37.839
don't really know. This thing is so volatile that it

448
00:21:37.880 --> 00:21:41.119
could really just take off, and once Fomo starts getting involved,

449
00:21:41.119 --> 00:21:42.759
who knows where things can go. We saw that with

450
00:21:42.799 --> 00:21:45.680
Game Stop, we saw that with AMC. Once that start,

451
00:21:45.799 --> 00:21:48.680
that thing starts, that euphoria starts, it will go crazy.

452
00:21:49.119 --> 00:21:52.000
That's normally the time where you start to pair back

453
00:21:52.000 --> 00:21:52.559
a little.

454
00:21:52.319 --> 00:21:55.079
Bit by the troubling side. But this week I started.

455
00:21:55.119 --> 00:21:57.279
I've heard I heard from a few people that had

456
00:21:57.319 --> 00:22:00.000
never even really talked about bitcoin or really probably didn't

457
00:22:00.079 --> 00:22:02.880
don't even know what it is. What should have you

458
00:22:02.920 --> 00:22:06.400
do with bitcoin? Really? You know, people that it is

459
00:22:06.440 --> 00:22:10.160
not appropriate for people that are conservative ministers, that everybody

460
00:22:10.200 --> 00:22:12.400
wants to know what's going on with bitcoin because it's

461
00:22:12.440 --> 00:22:15.240
gone up sixty percent. I went on, right, let me in,

462
00:22:16.440 --> 00:22:18.680
you get in here. Maybe it goes to one hundred

463
00:22:18.720 --> 00:22:21.319
and thirty, maybe it goes to fifty. You know, is

464
00:22:21.319 --> 00:22:24.440
that what you want? You want something like that? Most

465
00:22:24.440 --> 00:22:25.200
people don't.

466
00:22:25.400 --> 00:22:27.759
And to me, I never, I never try to really

467
00:22:27.759 --> 00:22:30.319
look at bitcoin as an investment. It's a way to

468
00:22:30.400 --> 00:22:33.640
protect your money. And I know that sounds counterintuitive because

469
00:22:33.680 --> 00:22:36.319
of the volatility of the asset, but to me, the

470
00:22:36.319 --> 00:22:40.440
inflation of the dollar is real and it's more than

471
00:22:40.440 --> 00:22:43.000
what they say in those inflation reports, in my opinion,

472
00:22:43.319 --> 00:22:46.519
and you can see that by the outpaced growth and

473
00:22:46.559 --> 00:22:50.039
bitcoin it's it's preally it's Bitcoin can only go up

474
00:22:50.119 --> 00:22:53.240
is if dollars get denominated by the by the country

475
00:22:53.279 --> 00:22:56.160
who prints them. So that that to me is why

476
00:22:56.160 --> 00:22:58.960
bitcoin constantly goes up and will for a period of time.

477
00:22:59.519 --> 00:23:02.039
There was a but you're right, it is extremely volatile.

478
00:23:02.240 --> 00:23:04.279
And let's say on Friday at clothes at one hundred

479
00:23:04.319 --> 00:23:07.839
thousand dollars per coin, right, that could be one hundred

480
00:23:07.839 --> 00:23:10.039
and fifty thousand dollars in two months. It could be

481
00:23:10.079 --> 00:23:14.039
fifty thousand dollars in two months. You better bring your

482
00:23:14.119 --> 00:23:17.000
seat belt strap it on if you really want to

483
00:23:17.039 --> 00:23:19.680
get involved in bitcoin. And it's not appropriate for everybody.

484
00:23:20.039 --> 00:23:23.759
We've said throughout this whole thing, has your investment objective

485
00:23:24.000 --> 00:23:27.799
really changed? Don't get caught up in this fomo, don't

486
00:23:27.799 --> 00:23:29.799
get caught up in blah. I got to be involved

487
00:23:29.799 --> 00:23:31.640
in this. There's a lot of people making money. My

488
00:23:31.680 --> 00:23:35.279
neighbor's talking about this and I'm not getting it. You

489
00:23:35.319 --> 00:23:39.039
know what your investment profile is. If you don't know

490
00:23:39.079 --> 00:23:41.000
what it is, give us a call. We can help

491
00:23:41.039 --> 00:23:45.200
you with that. And don't pick the all time high

492
00:23:45.240 --> 00:23:48.400
in bitcoin and the all time high in the S

493
00:23:48.480 --> 00:23:51.599
and P five hundred as a time to dump my bonds.

494
00:23:51.799 --> 00:23:56.200
Let's go. It just doesn't make any sense, but it's

495
00:23:56.440 --> 00:23:58.880
kind of the business we're in when when things go

496
00:23:59.039 --> 00:24:02.720
down and things are on sale and prices are more attractive.

497
00:24:03.319 --> 00:24:06.440
It's pretty quiet around here. When things are like they

498
00:24:06.440 --> 00:24:09.039
are now and you're getting new all time highs on

499
00:24:09.119 --> 00:24:10.279
a lot of different areas.

500
00:24:11.240 --> 00:24:12.000
Everybody wants it.

501
00:24:12.119 --> 00:24:15.440
Everybody wants it. We've never been busier, the firm's never

502
00:24:15.519 --> 00:24:19.319
been bigger, you know. Just anyway, just be careful, stick

503
00:24:19.319 --> 00:24:22.119
to your investment objectives. We will be back with more

504
00:24:22.160 --> 00:24:24.440
than Money Matter Show right after this break.

505
00:24:25.279 --> 00:24:27.440
Welcome back to the Money Matter Show. My name is Toddlick.

506
00:24:27.440 --> 00:24:31.279
I'm here with Sebastian Borsini and David Sherwood. This week,

507
00:24:31.519 --> 00:24:34.240
we don't have the Greenberg's here, you only got us three,

508
00:24:34.799 --> 00:24:36.839
but we did have a fun week in the markets.

509
00:24:37.319 --> 00:24:41.440
The SMP rose two percent and the Russell two thousand

510
00:24:41.559 --> 00:24:45.440
led the way the small caps. We also had Tesla

511
00:24:45.640 --> 00:24:48.599
this week. They're actually up ten percent, and it was

512
00:24:48.680 --> 00:24:51.559
kind of a quiet week for Tesla, but they quietly

513
00:24:51.759 --> 00:24:56.519
rose ten percent and continue to reach levels that do

514
00:24:56.559 --> 00:24:57.799
not make sense for that stock.

515
00:24:58.400 --> 00:24:59.799
They don't make sense. And I think it's one of

516
00:24:59.839 --> 00:25:05.119
those things with Trump rewarding loyalty and you go, what's

517
00:25:05.160 --> 00:25:05.720
he gonna do?

518
00:25:06.039 --> 00:25:06.079
What?

519
00:25:06.559 --> 00:25:08.440
What's he going to do for Musk? I mean, Musk

520
00:25:08.599 --> 00:25:12.480
was probably his biggest supporter through this whole campaign. What's

521
00:25:12.480 --> 00:25:14.400
he going to do for Elon? You know he's gonna

522
00:25:14.400 --> 00:25:17.079
do something? What's it? And you don't know? It's kind

523
00:25:17.079 --> 00:25:22.160
of like bitcoin. Now he's this big proponent of bitcoin. Okay,

524
00:25:22.160 --> 00:25:24.559
so what's he gonna do. Well, it's gone up sixty

525
00:25:24.640 --> 00:25:28.559
percent on thinking about what he's gonna do. What could

526
00:25:28.559 --> 00:25:31.519
he possibly do? You know? I mean when it gets

527
00:25:31.599 --> 00:25:34.839
right down to it. But this again, Tesla stock has

528
00:25:34.839 --> 00:25:37.559
been on fire. Monday, the shares jumped eight percent after

529
00:25:37.640 --> 00:25:42.440
Bloomberg reported that the Trump transition team is planning to

530
00:25:42.480 --> 00:25:47.240
make a national regulatory framework for stelf driving vehicles a

531
00:25:47.279 --> 00:25:51.200
top priority under the Trump administration. Nice, okay, so there's

532
00:25:51.920 --> 00:25:54.839
salvo number one. You know it's to okay, Elon, here's

533
00:25:54.920 --> 00:25:56.799
number one thing I'm gonna do about you? And you

534
00:25:57.039 --> 00:26:00.440
just don't know. I mean, Musk and Trump both think

535
00:26:00.480 --> 00:26:03.839
outside the box something could come that, you say, Man,

536
00:26:03.880 --> 00:26:07.160
I did not see that coming. But I saw an

537
00:26:07.240 --> 00:26:12.039
article last week about the three stocks that have performed

538
00:26:12.079 --> 00:26:14.759
the best since the election. I thought that was kind

539
00:26:14.759 --> 00:26:19.319
of interesting. Number one best performer since the election Axon.

540
00:26:19.720 --> 00:26:24.720
Now nobody knows what Axon is. That's Taser. That's Taser

541
00:26:24.759 --> 00:26:29.160
out of Phoenix, formerly Taser. That's the number one performing stock.

542
00:26:29.599 --> 00:26:32.000
So what do you do, Gonna give tasers out to

543
00:26:32.039 --> 00:26:37.279
everybody and him go round up illegals, I mean Taser stock.

544
00:26:38.240 --> 00:26:41.640
Taser stock is the number one performing stock. Number two

545
00:26:42.119 --> 00:26:46.200
Tesla Really not a surprise here. We've watched Tesla sources

546
00:26:46.240 --> 00:26:50.000
and and number three vrt Veritis that we talked about

547
00:26:50.000 --> 00:26:53.200
that provides the cooling. Number three performing stock.

548
00:26:53.000 --> 00:26:54.599
That makes me want to see election makes me want

549
00:26:54.599 --> 00:26:57.720
to cry, quite honest with you, not being anything. Yeah,

550
00:26:57.759 --> 00:26:59.599
I mean looking at it, staring at it in the

551
00:26:59.599 --> 00:27:04.599
face of one hundred dollars a share. Now, I think

552
00:27:04.599 --> 00:27:06.359
it's up like one hundred and ninety percent year to day.

553
00:27:06.680 --> 00:27:08.920
Started the year like forty seven dollars a share.

554
00:27:09.480 --> 00:27:11.960
Yeah, market did have a good opportunity. On Tuesday, when

555
00:27:11.960 --> 00:27:15.559
Putin started making remarks about nuclear war, had a good opportunity.

556
00:27:15.640 --> 00:27:19.799
Correct didn't take it right. It seems like all systems

557
00:27:19.799 --> 00:27:25.200
are gorum and Trumpanomics excitement is running the market. We

558
00:27:25.279 --> 00:27:29.640
do have an economy that's kind of goldilocks flash. PMI

559
00:27:29.839 --> 00:27:33.400
last week showed an upturn in business activity and get this,

560
00:27:33.839 --> 00:27:37.319
the sharpest increase in demand over the last two and

561
00:27:37.359 --> 00:27:42.240
a half years, which has the composite at fifty five

562
00:27:42.279 --> 00:27:45.759
point three. Fifty is the mid range. Anything below fifty

563
00:27:45.880 --> 00:27:50.559
is is contraction. Anything above fifty is expansion. Fifty five

564
00:27:50.599 --> 00:27:54.480
point three for November, that's good, strong expansion. That's the

565
00:27:54.599 --> 00:27:58.640
highest number since April of twenty two, which tells you

566
00:27:58.680 --> 00:28:02.640
that the economy is on firm footing. And so you say, Okay,

567
00:28:02.680 --> 00:28:05.559
I've got an economy that's on firm footing. I've got

568
00:28:05.799 --> 00:28:10.279
a guy that's going to take over the reins in January,

569
00:28:10.759 --> 00:28:14.200
who is known to be supportive of business, who's known

570
00:28:14.279 --> 00:28:19.359
to be supportive of the market. You've got interest rates, yeah, stable,

571
00:28:20.240 --> 00:28:23.119
and you've got inflation coming down and it's if the

572
00:28:23.160 --> 00:28:26.640
housing market continues to soften, you're going to see the

573
00:28:26.720 --> 00:28:29.440
CPI number eventually reflect that.

574
00:28:30.160 --> 00:28:32.880
But yeah, I mean, well, inflation did go up last month.

575
00:28:33.039 --> 00:28:35.000
It did. It did from the previous Yeah, from two

576
00:28:35.039 --> 00:28:35.519
point two.

577
00:28:35.559 --> 00:28:37.920
And we saw a Fed, a FED member this week

578
00:28:37.960 --> 00:28:41.400
actually say that the progress on inflation is slowing, which

579
00:28:41.440 --> 00:28:43.319
is the first time a FED members said that in

580
00:28:43.359 --> 00:28:46.799
a while. So we might actually get some dissents on

581
00:28:46.920 --> 00:28:48.799
this next FED rate cut decision.

582
00:28:48.920 --> 00:28:51.359
Did you guys, did you guys see that banana with

583
00:28:51.480 --> 00:28:54.160
duct tape that sold for two point five million dollars

584
00:28:54.160 --> 00:28:57.880
the other day? Maybe billion dollars? What was it? It was

585
00:28:57.920 --> 00:29:00.359
a banana with duct tape on it and called it

586
00:29:00.480 --> 00:29:04.480
art And that's just like that's a lens of how

587
00:29:04.880 --> 00:29:06.960
non restrictive this policy still is.

588
00:29:07.519 --> 00:29:11.200
I mean, somebody really smart there. It sounds like the

589
00:29:11.240 --> 00:29:12.400
seller was really smart.

590
00:29:12.480 --> 00:29:14.799
Now you know what are is our is the biggest

591
00:29:14.799 --> 00:29:17.319
money laundering scheme in the world, because all you have

592
00:29:17.400 --> 00:29:19.000
to say is something is worth this, and you give

593
00:29:19.039 --> 00:29:21.400
me that money and now I can send that money

594
00:29:20.839 --> 00:29:22.279
to It's ridiculous.

595
00:29:22.400 --> 00:29:25.640
Yeah. Interest rates did hit the highest level in five

596
00:29:25.680 --> 00:29:28.599
months during the week, and that's what we're talking about.

597
00:29:30.599 --> 00:29:32.640
They finished the week. The ten year treasury finished the

598
00:29:32.680 --> 00:29:35.039
week flat. One of the things that's very confusing to

599
00:29:35.240 --> 00:29:39.519
most people is how can interest rates be rising when

600
00:29:39.559 --> 00:29:41.839
the Federal Reserve is cutting.

601
00:29:41.640 --> 00:29:44.079
Rate, Well, the market's saying it's wrong. Possible, the bond

602
00:29:44.119 --> 00:29:45.920
market is saying that the Fed is wrong.

603
00:29:46.319 --> 00:29:48.960
Well, I think that I agree with you, there Sebastian.

604
00:29:49.000 --> 00:29:52.160
But remember the Fed is dealing in short term rates.

605
00:29:52.799 --> 00:29:55.200
The market is dealing in what we're talking about, the

606
00:29:55.240 --> 00:29:57.759
ten year or the mortgage rates that Todd mentioned, those

607
00:29:57.759 --> 00:30:00.880
are long term rates. The difference betwe the two FED

608
00:30:01.480 --> 00:30:04.799
can't control long term rates. Long term rates are controlled

609
00:30:04.839 --> 00:30:07.440
by the open market, and long term rates are going

610
00:30:07.480 --> 00:30:10.720
higher and the long term rates the bond market would

611
00:30:10.759 --> 00:30:13.240
tell you. And it's interesting because the bond market is

612
00:30:13.279 --> 00:30:16.519
about three times, if I remember correctly, about three times

613
00:30:16.519 --> 00:30:20.200
the size of the stock market. So if you're wanting

614
00:30:20.279 --> 00:30:22.400
to know where things are going, you want to look

615
00:30:22.400 --> 00:30:25.359
at the bond market, because the bond market is way

616
00:30:25.400 --> 00:30:28.039
bigger than the stock market in terms of the number

617
00:30:28.079 --> 00:30:30.440
of dollars that move in and out of there. So

618
00:30:30.759 --> 00:30:33.640
they're telling you that that interest rates are going to

619
00:30:33.720 --> 00:30:37.319
be going higher if we don't do something to slow

620
00:30:37.400 --> 00:30:39.880
this thing down. Like I say, you've got the best

621
00:30:39.880 --> 00:30:45.200
PMI the the most the biggest increase in demand in

622
00:30:45.240 --> 00:30:48.359
two and a half years right ahead of a guy

623
00:30:48.440 --> 00:30:51.160
coming into office who is going to light the fire.

624
00:30:52.759 --> 00:30:54.119
You know, the fire is burning red hot, and you

625
00:30:54.119 --> 00:30:55.680
here you got a guy showing up with matches.

626
00:30:56.799 --> 00:30:58.960
So and the market then says, we're not going to

627
00:30:59.000 --> 00:31:01.160
get the rate cuts we back then because of those

628
00:31:01.160 --> 00:31:04.559
inflationary policies, and what could be I mean, if the

629
00:31:04.599 --> 00:31:06.680
market's doing well, why are you cutting rates?

630
00:31:06.960 --> 00:31:09.000
Yeah, it makes no sense, It makes no sense. I

631
00:31:09.000 --> 00:31:12.000
think cutting rates. That fifty basis point cut I think

632
00:31:12.119 --> 00:31:15.160
was a mistake. We said so at the time, and

633
00:31:15.200 --> 00:31:17.359
then the twenty five basis point cut after that, they

634
00:31:17.359 --> 00:31:19.839
were kind of stuck with that one. They had to

635
00:31:19.880 --> 00:31:23.640
do that. When I'm hoping the next FED meeting there

636
00:31:23.680 --> 00:31:25.960
isn't a rate increase. The market thinks there'll be another

637
00:31:26.039 --> 00:31:31.119
quarter and I don't they say increase, decrease, decrease, another

638
00:31:31.240 --> 00:31:32.279
quarter point decrease.

639
00:31:33.000 --> 00:31:35.440
But right now the market thinks it will happen. That

640
00:31:35.559 --> 00:31:38.839
prices it in absolutely and it doesn't make sense of

641
00:31:38.880 --> 00:31:41.039
why they're going to do it. But that's why I'm saying,

642
00:31:41.039 --> 00:31:43.000
you're probably gonna get a couple of FED members say

643
00:31:43.039 --> 00:31:45.200
that we don't agree with that FED rate cut, and

644
00:31:45.640 --> 00:31:47.960
it still will get approved. But once you get a

645
00:31:47.960 --> 00:31:50.359
couple of de cents, that means the next one you aren't.

646
00:31:50.359 --> 00:31:51.759
You're not going to get most likely.

647
00:31:52.000 --> 00:31:53.680
Well, I want to know what the Fed's seeing, because

648
00:31:55.519 --> 00:31:57.440
with the action that they're taking, it's like they're not

649
00:31:57.680 --> 00:31:58.920
data dependent anymore.

650
00:32:00.400 --> 00:32:05.359
Jerome POW's claim is that the labor market continues to weaken,

651
00:32:06.039 --> 00:32:10.200
and that gives him the justification. Yeah, and that outweighs

652
00:32:10.200 --> 00:32:12.400
the risk of inflation at this point.

653
00:32:12.880 --> 00:32:16.279
Calendar for next week kind of light. Not surprisingly, we

654
00:32:16.279 --> 00:32:19.640
do get on Wednesday, the day before Thanksgiving, we do

655
00:32:19.759 --> 00:32:24.480
get PCEE the governments the Fed's favorite measure of inflation,

656
00:32:25.759 --> 00:32:30.160
the personal Consumption Index is personal Consumption Expenditure Index. That's

657
00:32:30.160 --> 00:32:30.759
why it's PCE.

658
00:32:32.160 --> 00:32:34.279
And you get a lot of GDP reports, and for

659
00:32:34.319 --> 00:32:37.319
some reason, as of late, when GDP comes in higher

660
00:32:37.359 --> 00:32:41.039
than expected, the market loves it. Yeah, so that might

661
00:32:41.079 --> 00:32:42.920
be a market move or too, and not normally is,

662
00:32:43.000 --> 00:32:45.400
but as of late I think it's it's definitely moved

663
00:32:45.400 --> 00:32:46.759
markets on those days.

664
00:32:46.680 --> 00:32:49.640
A little bit of weird hours. Next week Thanksgiving a course,

665
00:32:49.680 --> 00:32:52.119
the markets closed, and then on Friday there's a half

666
00:32:52.119 --> 00:32:54.839
a day the market closes at eleven am two sometime

667
00:32:54.920 --> 00:32:59.200
on Friday, so kind of a We used to think

668
00:32:59.279 --> 00:33:01.960
that it had to be open on Friday because there

669
00:33:02.039 --> 00:33:06.640
was a federal law that no financial institution can be

670
00:33:06.680 --> 00:33:10.000
closed for more than three consecutive days. There actually are

671
00:33:10.319 --> 00:33:13.799
three states that have that law, but there is no

672
00:33:13.880 --> 00:33:17.079
federal law. It's just kind of customs since the twenty

673
00:33:17.160 --> 00:33:18.480
since the crash.

674
00:33:18.680 --> 00:33:21.200
Since you know which three states great Depression.

675
00:33:20.880 --> 00:33:25.559
Texas, Oklahoma, and Alaska have laws on the books where

676
00:33:25.599 --> 00:33:28.279
you cannot have a financial institution closed for more than

677
00:33:28.640 --> 00:33:31.839
three days. Now, those would be state chartered institutions. They

678
00:33:31.880 --> 00:33:38.519
couldn't control federally charged institutions. But it's become tradition or

679
00:33:38.599 --> 00:33:42.240
standard that we operate by where the financial markets are

680
00:33:42.240 --> 00:33:45.680
not closed other than nine to eleven for more than

681
00:33:45.759 --> 00:33:48.920
three consecutive business days, which I think makes a lot

682
00:33:48.960 --> 00:33:52.039
of sense. Gives people a peace of mind that they

683
00:33:52.039 --> 00:33:53.319
can get at their money.

684
00:33:53.960 --> 00:33:55.279
It could get access to their moneys.

685
00:33:55.359 --> 00:34:00.839
Yeah. Absolutely, China continues to drift lower. The FXI, which

686
00:34:00.880 --> 00:34:03.519
was the large cap index in China, down another two

687
00:34:03.519 --> 00:34:04.359
percent last week.

688
00:34:04.400 --> 00:34:06.359
Yes, shang Hi as a hole is down two point

689
00:34:06.359 --> 00:34:09.519
three percent. Uh, some of those companies are getting hammered.

690
00:34:10.119 --> 00:34:12.239
Yeah, I mean it's isn't that interesting here? Our Mark

691
00:34:12.360 --> 00:34:14.800
is just going to the moon, and China is selling

692
00:34:14.880 --> 00:34:18.159
off because we know they're their real estate bubble. You

693
00:34:18.199 --> 00:34:18.760
have you had?

694
00:34:18.800 --> 00:34:21.480
PDD Todd follows on quite a bit. They dropped ten

695
00:34:21.519 --> 00:34:24.159
percent off of their revenue estimates or off their earnings

696
00:34:24.159 --> 00:34:27.599
reports that they conducted you have the parent company of

697
00:34:27.960 --> 00:34:29.880
team Mate. Yeah.

698
00:34:30.039 --> 00:34:32.639
But also Amazon came out last week and said they're

699
00:34:32.679 --> 00:34:35.559
making their own TMU store where everything on this new

700
00:34:35.639 --> 00:34:38.000
store that they're making is going to be under twenty dollars.

701
00:34:38.280 --> 00:34:40.679
Oh really, every little single last star.

702
00:34:40.719 --> 00:34:42.000
Like an Amazon dollar store.

703
00:34:42.159 --> 00:34:44.639
Yes, the interesting Amazon twenty dollars store.

704
00:34:44.719 --> 00:34:46.840
Yeah, I tell you do not want to be competing

705
00:34:46.840 --> 00:34:48.400
with Amazon now they enter that.

706
00:34:48.400 --> 00:34:49.800
That hurt PDD quite a bit.

707
00:34:49.840 --> 00:34:52.159
Ali Baba's also gone crushed from about one hundred and

708
00:34:52.199 --> 00:34:55.719
ten dollars down to around eighty the first Trump term,

709
00:34:55.880 --> 00:34:58.679
we saw the same thing. They got smoked, and then

710
00:34:59.119 --> 00:35:02.840
it's skyrocket from about ninety dollars to three hundred and twenty. Oh,

711
00:35:03.039 --> 00:35:05.840
well that happened again. I don't know, probably not, but

712
00:35:06.280 --> 00:35:08.519
I'll keep an eye on it. I don't trust China.

713
00:35:08.320 --> 00:35:11.719
Though, Chinese market finished at the lowest level since late September,

714
00:35:11.760 --> 00:35:13.960
and back in late September is when they announced that

715
00:35:14.079 --> 00:35:18.960
stimulus package. Market shot up pretty good at that point

716
00:35:19.599 --> 00:35:23.119
and it just kind of drifted lower since. And the

717
00:35:23.239 --> 00:35:26.760
talk is that they need more stimulus at the real

718
00:35:26.880 --> 00:35:30.159
estate bubble there, which is really really huge and nothing

719
00:35:30.639 --> 00:35:33.480
something we can't even comprehend because our government is not

720
00:35:33.519 --> 00:35:35.760
going to go building cities in the middle of nowhere

721
00:35:36.239 --> 00:35:39.119
hoping people will show up, and that's exactly what they did.

722
00:35:39.119 --> 00:35:41.960
And guess what nobody showed up. Anyway, we'll be back

723
00:35:42.199 --> 00:35:44.280
with the next segment of The Money Matter Show. Thanks

724
00:35:44.320 --> 00:35:45.800
again for taking time to join us.

725
00:35:46.079 --> 00:35:49.360
Love this weather, Welcome back to the Money Matter Show.

726
00:35:49.400 --> 00:35:51.719
My name is Sebastian Borsini here with David Sherwood and

727
00:35:51.760 --> 00:35:54.239
Todd Glick Junior. You got the green Bergs outs hopefully

728
00:35:54.280 --> 00:35:58.599
winning a football game of semi no quarter final football game.

729
00:35:58.679 --> 00:36:01.559
Yeah, that would be if they win tonight. They're in

730
00:36:01.559 --> 00:36:02.320
the semi.

731
00:36:02.079 --> 00:36:04.559
Final semi finals for the five Bay State Championship.

732
00:36:04.719 --> 00:36:06.800
I have seen what the odds were, and he said,

733
00:36:06.800 --> 00:36:09.440
I just don't want to be embarrassed. I just want

734
00:36:09.440 --> 00:36:10.639
to be competitive, you know.

735
00:36:10.639 --> 00:36:12.880
All those Phoenix schools are big. I mean, I think

736
00:36:12.920 --> 00:36:15.039
we have I want to say, thirty five to forty

737
00:36:15.119 --> 00:36:17.280
kids on the team. They'll probably come here Tocson with

738
00:36:17.320 --> 00:36:18.320
about sixty.

739
00:36:18.119 --> 00:36:21.880
Drag them down. Yeah, that's another level. And this this

740
00:36:21.960 --> 00:36:25.320
team has a worse record than Tucson High, but it's

741
00:36:25.400 --> 00:36:27.239
because they played a lot different competition.

742
00:36:27.320 --> 00:36:29.360
They play some great teams up in Phoenix each week.

743
00:36:29.480 --> 00:36:31.119
Before the end of the last break, we were talking

744
00:36:31.119 --> 00:36:34.360
about China's housing bubble, and I heard an interesting tidbit

745
00:36:34.400 --> 00:36:36.559
about the fact that a lot of houses in New

746
00:36:36.639 --> 00:36:39.840
York are also vacant that we don't realize because of

747
00:36:39.960 --> 00:36:43.400
foreign investors that buy those properties as a way to

748
00:36:43.440 --> 00:36:46.320
pretty much hedge their inflation risks from their own country.

749
00:36:46.920 --> 00:36:50.840
And also American property increases a lot more than a

750
00:36:50.880 --> 00:36:53.159
lot of foreign property around the world, so it's a

751
00:36:53.159 --> 00:36:57.119
way for them to have an alternative investment that kind

752
00:36:57.159 --> 00:36:59.079
of grows at the at a higher rate than they

753
00:36:59.079 --> 00:37:01.519
could otherwise get. We just let them do that, and

754
00:37:01.559 --> 00:37:03.360
we let them do that. So that's why a lot

755
00:37:03.400 --> 00:37:06.079
of the house the housing prices in New York is

756
00:37:06.159 --> 00:37:10.000
just insane, and it's because of the foreign buyers that

757
00:37:10.199 --> 00:37:11.800
just buy up houses and there's no one in it.

758
00:37:11.880 --> 00:37:14.199
That's horrible. Why do we do that, Well.

759
00:37:14.320 --> 00:37:16.639
Because someone makes money from the foreign buyers, like the

760
00:37:17.280 --> 00:37:19.280
realtor that has the connection with the foreign buyer. They

761
00:37:19.280 --> 00:37:21.159
made a big chunk of money from that cell.

762
00:37:21.440 --> 00:37:24.800
Darn democracy, you know, Yeah, Saturday.

763
00:37:25.519 --> 00:37:27.239
Freedom is freedom at the end of the day. You

764
00:37:27.280 --> 00:37:28.199
can't have it both ways.

765
00:37:28.199 --> 00:37:29.199
The market.

766
00:37:31.320 --> 00:37:33.400
Well, in Mexico you have like if I wanted to

767
00:37:33.440 --> 00:37:35.199
go buy a condo in Mexico, I can't do that

768
00:37:35.519 --> 00:37:38.719
unless I, for one, get citizenship or I could go

769
00:37:39.320 --> 00:37:42.199
lease it out for one hundred and five year term, right,

770
00:37:42.239 --> 00:37:43.599
and then I can't pass it on to my family.

771
00:37:43.639 --> 00:37:44.360
That kind of things.

772
00:37:44.559 --> 00:37:46.840
Well, yeah, that's because Mexico is a little more socialist

773
00:37:46.920 --> 00:37:49.920
than is way more. Now.

774
00:37:49.960 --> 00:37:53.079
I know a bunch of people from Timbstun. They have

775
00:37:53.199 --> 00:37:54.480
their own homes in Mexico.

776
00:37:54.519 --> 00:37:56.599
They don't own them. Okay, they're on one hundred and

777
00:37:56.599 --> 00:37:57.159
five year lease.

778
00:37:58.000 --> 00:37:59.320
Most of them are lease backs.

779
00:37:59.559 --> 00:38:01.679
I mean us. They applied for citizenship and they got

780
00:38:01.760 --> 00:38:04.599
dual citizenship. But I think for them there now, I'm

781
00:38:05.280 --> 00:38:07.519
ninety nine point nine percent sure you cannot. You won't

782
00:38:07.559 --> 00:38:10.000
actually end up owning the house you have to give

783
00:38:10.039 --> 00:38:11.159
it back, but.

784
00:38:11.119 --> 00:38:12.639
You can still sell it and then just get a

785
00:38:12.679 --> 00:38:13.320
new lease.

786
00:38:13.440 --> 00:38:15.800
As long as during that one hundred and five years.

787
00:38:15.880 --> 00:38:18.719
Right, it's not a it's more I was thinking more

788
00:38:18.719 --> 00:38:20.119
if you wanted to pass it on to your kids.

789
00:38:20.119 --> 00:38:21.239
You know, you don't have a name.

790
00:38:21.760 --> 00:38:24.760
Commoditi's had had an interesting week. Oil up four dollars

791
00:38:25.440 --> 00:38:27.960
seventy one bucks. Oil has been beaten down for quite

792
00:38:28.000 --> 00:38:31.480
a while due to the decreased demand from China as

793
00:38:31.519 --> 00:38:32.840
their economy struggles.

794
00:38:33.039 --> 00:38:34.280
Is that what you attribute it to?

795
00:38:34.559 --> 00:38:35.920
Gold is the one I can't figure out.

796
00:38:36.119 --> 00:38:38.079
Huh is that what you tribute to that too?

797
00:38:38.519 --> 00:38:38.920
Oh? Yeah?

798
00:38:39.000 --> 00:38:39.519
Dropping oil?

799
00:38:39.599 --> 00:38:42.840
Yeah? I know what else? I mean? I you know,

800
00:38:42.920 --> 00:38:45.599
because if you're thinking, well, it's because Trump's going to

801
00:38:45.679 --> 00:38:47.880
become president and there's going to be a lot more

802
00:38:47.880 --> 00:38:50.480
oil produced. Well, they wanted to go up four dollars,

803
00:38:51.039 --> 00:38:53.880
it should be going down to sixty two fifty nine,

804
00:38:54.039 --> 00:38:57.599
you know if that's the case. So, and I understand

805
00:38:57.920 --> 00:38:59.840
where those people are coming from, and I don't dis

806
00:39:00.039 --> 00:39:02.079
agree with him. I mean, we're probably gonna see that

807
00:39:02.159 --> 00:39:07.039
Keystone pipeline up and running pretty quickly, I would hope.

808
00:39:07.880 --> 00:39:11.840
And but Todd, you've mentioned before we're producing more oil

809
00:39:11.880 --> 00:39:13.559
in this country than we ever have in history.

810
00:39:14.039 --> 00:39:16.880
Yeah, and it was a result of some bad policy decisions.

811
00:39:16.880 --> 00:39:18.639
But yeah, I mean, if you look at the numbers,

812
00:39:18.920 --> 00:39:21.960
we've definitely opened some things up. So I mean that

813
00:39:22.159 --> 00:39:24.760
increase of supply has led to some of that price

814
00:39:25.119 --> 00:39:28.440
going lower as well. When you have a big supplier

815
00:39:28.480 --> 00:39:31.639
that wasn't around, you know, five years ago, all of

816
00:39:31.679 --> 00:39:34.760
a sudden come online, that's gonna decrease prices.

817
00:39:35.079 --> 00:39:37.159
If you're looking for somebody to advise you on gold,

818
00:39:37.199 --> 00:39:41.119
it's not me. Gold up one hundred and forty five

819
00:39:41.239 --> 00:39:45.000
dollars last week. I was a week ago. I said, Okay,

820
00:39:45.039 --> 00:39:47.320
gold finally is down two hundred dollars. Work should be

821
00:39:47.480 --> 00:39:49.920
right up one hundred and forty five dollars last week

822
00:39:49.920 --> 00:39:51.000
to twenty seven to ten.

823
00:39:51.239 --> 00:39:53.039
While the dollar went up in value.

824
00:39:52.840 --> 00:39:55.599
And the dollar hit a two year high.

825
00:39:55.360 --> 00:39:57.880
Rates up. Gold stock's a bitcoin.

826
00:39:58.079 --> 00:40:00.440
That makes no sense. What's going on gold is gold

827
00:40:00.480 --> 00:40:03.800
is priced in dollars, So as the dollar goes, gold

828
00:40:03.840 --> 00:40:07.000
is supposed to be in verse. Think of a Teeter tyner, right, well,

829
00:40:07.000 --> 00:40:10.119
you've got both side, the Teeter tyner going up at

830
00:40:10.159 --> 00:40:11.719
the same time. It makes no sense.

831
00:40:11.880 --> 00:40:13.960
Well, to me, what I see what's happening is the

832
00:40:14.000 --> 00:40:16.920
fact that the US is not slated to do the

833
00:40:16.960 --> 00:40:21.239
amount of cuts that we had slated for twenty twenty five,

834
00:40:21.599 --> 00:40:23.920
and the market has repriced that in. When that gets reprised,

835
00:40:23.920 --> 00:40:27.880
the dollar goes higher in value. Yes, and also Europe

836
00:40:28.039 --> 00:40:31.599
is not is increasing the amount of cuts they were slated.

837
00:40:31.639 --> 00:40:33.199
They had a certain amount. Now they think they're going

838
00:40:33.280 --> 00:40:36.079
to have more cuts, so that weakens their currency, which

839
00:40:36.119 --> 00:40:38.719
adds to the strength of our currency. And then on

840
00:40:38.800 --> 00:40:41.320
top of that, I've heard from many different articles and

841
00:40:41.360 --> 00:40:44.519
people close to those bricks countries that they're not really

842
00:40:44.639 --> 00:40:47.320
so into the bricks currency. They're more into buying a

843
00:40:47.320 --> 00:40:50.039
lot of gold. And the same way that when bitcoin

844
00:40:50.119 --> 00:40:51.719
goes up and a lot of people then think, oh,

845
00:40:51.760 --> 00:40:54.400
I should ditch my dollars and go into bitcoin. Well,

846
00:40:54.440 --> 00:40:56.159
if gold keeps going up, people are going to say

847
00:40:56.239 --> 00:40:58.159
I should ditch my dollars and go into gold. And

848
00:40:58.199 --> 00:41:01.519
if that eventually leads to the dollar losing value over

849
00:41:01.559 --> 00:41:05.079
time in gold getting more and more steam, people increasingly

850
00:41:05.079 --> 00:41:07.599
don't trust the dollar, and that is the only way

851
00:41:07.800 --> 00:41:10.159
these bricks countries can really get away from this dollar

852
00:41:10.239 --> 00:41:12.599
rize system. If they try to create a bricks currency,

853
00:41:12.599 --> 00:41:15.079
no one's gonna trust it. They know that, so they

854
00:41:15.119 --> 00:41:18.239
have to use something that people can trust union latterally

855
00:41:18.519 --> 00:41:21.159
that isn't tied to one country, and that is most

856
00:41:21.199 --> 00:41:23.559
likely going to be gold. Potentially it's also bitcoin. Maybe

857
00:41:23.559 --> 00:41:26.280
they're the ones that pushing this thing higher, but you

858
00:41:26.320 --> 00:41:29.559
can definitely see there's a huge volume spikes and goals.

859
00:41:29.760 --> 00:41:31.239
Some there's a big buyer in there.

860
00:41:32.679 --> 00:41:36.199
It's it's it's just unusual. It should be going the

861
00:41:36.239 --> 00:41:40.480
opposite direction of the dollar. And and again when I

862
00:41:40.480 --> 00:41:42.679
look at the dollar at a two year high, I think, well,

863
00:41:42.719 --> 00:41:44.800
so much for all the conspiracy theorists to say the

864
00:41:44.840 --> 00:41:47.760
dollar is going to be replaced by you know this currency,

865
00:41:47.840 --> 00:41:50.639
that currency to nobody wants a dollar anymore. And of

866
00:41:50.639 --> 00:41:53.960
course that's that's how people sell gold, that's how people

867
00:41:54.000 --> 00:41:57.280
sell things, just to say, wow, the dollar is gonna well,

868
00:41:57.320 --> 00:41:59.039
guess what the dollars at a two year high.

869
00:41:59.079 --> 00:42:01.159
And I think this is I always look at currencies

870
00:42:01.320 --> 00:42:03.519
as an illustration of if if you imagine a whole

871
00:42:03.519 --> 00:42:08.599
bunch of boats in a bay, and imagine that all

872
00:42:08.639 --> 00:42:11.480
these boats have their own tides going up and down.

873
00:42:12.440 --> 00:42:14.760
And because they're all fiat currencies. At the end of

874
00:42:14.760 --> 00:42:17.360
the day, they're all backed by nothing. A euro is

875
00:42:17.400 --> 00:42:19.320
backed by nothing, a dollar is backed by nothing. A

876
00:42:19.599 --> 00:42:22.280
Japanese yen is backed by nothing. But they do have

877
00:42:22.320 --> 00:42:26.440
an exchange rate, right, which means there is a value

878
00:42:26.639 --> 00:42:29.519
that is between me going into a dollar versus me

879
00:42:29.599 --> 00:42:32.039
going into a Mexican peso and me going back. Right,

880
00:42:32.320 --> 00:42:35.159
there is an actual exchange rate, and that exchange rate

881
00:42:35.239 --> 00:42:40.639
is fluctuated by the strength of that bond issuer, which

882
00:42:40.679 --> 00:42:44.239
is the country, sure, and so when the rates go higher,

883
00:42:44.360 --> 00:42:47.199
the tide goes higher for that boat, and the tide

884
00:42:47.199 --> 00:42:50.400
goes lower for the other side of that coin.

885
00:42:50.760 --> 00:42:51.000
Right.

886
00:42:51.079 --> 00:42:53.800
So that's why to me, I look at it in

887
00:42:53.840 --> 00:42:56.039
that respect, because they're all fiats. At the end of

888
00:42:56.039 --> 00:42:58.960
the day, they're all based on nothing. But at the

889
00:42:59.039 --> 00:43:01.320
end of the day, they all are based on each

890
00:43:01.360 --> 00:43:04.920
each other's economic growth, and then that relative comparison of

891
00:43:05.079 --> 00:43:07.800
who's doing better or worse, and that leads to the

892
00:43:07.800 --> 00:43:09.559
strength or weakness of that currency.

893
00:43:10.679 --> 00:43:16.039
Interesting. Interesting, it's it's uh again. The dollar strength is

894
00:43:16.760 --> 00:43:19.159
confusing some of the conspiracy theorists.

895
00:43:19.199 --> 00:43:19.800
Have you heard of.

896
00:43:22.000 --> 00:43:28.119
Quantum computing incorporated Q The ticker's qubt yep so. This

897
00:43:28.199 --> 00:43:32.119
company was formerly known as Innovative Beverage Group Holdings, which

898
00:43:32.199 --> 00:43:38.119
is a energy drink. Right a week ago, they changed

899
00:43:38.119 --> 00:43:42.840
their name from again Innovative Beverage Group Holdings Incorporated to

900
00:43:43.000 --> 00:43:46.320
Quantum Computing Incorporated. This sent the stock up for the

901
00:43:46.320 --> 00:43:51.360
week one hundred and forty seven percent. This company, this

902
00:43:51.440 --> 00:43:53.480
company has what do you think in revenue?

903
00:43:54.159 --> 00:43:56.159
I know, but you've got Quantum Computing in the name.

904
00:43:56.199 --> 00:43:58.440
One hundred thousand dollars in revenue. Oh my goodness, Oh

905
00:43:58.440 --> 00:43:59.119
my gosh.

906
00:43:59.159 --> 00:44:01.880
Please be careful, people, absolutely, I want to talk about it,

907
00:44:02.039 --> 00:44:05.239
just real briefly about trading on Trump, what I've called

908
00:44:05.280 --> 00:44:08.239
trading on Trump. Over the past few weeks, we've seen

909
00:44:08.360 --> 00:44:13.519
several securities move significantly higher or significantly lower based on

910
00:44:14.280 --> 00:44:18.880
people Trump is nominating for various posts. These nominees, as

911
00:44:18.880 --> 00:44:21.679
you all know, may or may not pass Senate confirmation,

912
00:44:21.760 --> 00:44:24.519
and even if they do, there's no guarantee that their

913
00:44:24.559 --> 00:44:28.000
personal beliefs will be able to change the law. Be

914
00:44:28.159 --> 00:44:32.079
careful getting too excited or too depressed. Time will tell

915
00:44:32.159 --> 00:44:35.119
if any change is positive or negative, and they're going

916
00:44:35.159 --> 00:44:39.760
to take months to happen. Most market participants believe Trump

917
00:44:39.800 --> 00:44:42.519
two point zero is going to be much like the

918
00:44:42.559 --> 00:44:44.599
first term. It should be good for the overall market,

919
00:44:44.639 --> 00:44:48.679
but it'd be cautious reacting to specific industries. The Kennedy

920
00:44:48.760 --> 00:44:53.079
nomination is probably the most caused the most movement taking

921
00:44:53.159 --> 00:44:56.280
pharma companies down due to his anti vax and anti

922
00:44:56.360 --> 00:45:01.119
GLP one reputation reputation. I said, creating a rally in

923
00:45:01.239 --> 00:45:04.440
dental Get this, creating an a rally in dental supply

924
00:45:04.559 --> 00:45:07.679
stocks as doing away with floride in the water could

925
00:45:07.760 --> 00:45:12.559
mean more dental business. Now, people, that's gonna take year.

926
00:45:14.000 --> 00:45:16.000
Is that that's the fun one right there?

927
00:45:16.239 --> 00:45:19.400
A rally in dental supply stocks because Kennedy's going to

928
00:45:19.480 --> 00:45:21.239
take the floor height out of the water and it's

929
00:45:21.280 --> 00:45:25.079
going to cause teeth to get worse. Come on, I mean,

930
00:45:26.000 --> 00:45:29.840
you know, yeah, the market You think if that actually happened,

931
00:45:29.880 --> 00:45:32.639
If if A, if he actually was able to take

932
00:45:32.639 --> 00:45:35.239
flour right out of the water, A that he gets nominated,

933
00:45:35.360 --> 00:45:37.639
B that he actually is able to take the four

934
00:45:37.679 --> 00:45:40.559
height out of the water, see that it actually causes

935
00:45:40.639 --> 00:45:44.519
teeth to decay further and D it means more. How

936
00:45:44.599 --> 00:45:48.079
long do you think that would be? I mean, how

937
00:45:48.159 --> 00:45:51.760
sick of your dental supply stock doing nothing would you

938
00:45:51.880 --> 00:45:54.880
be before that actually happens.

939
00:45:54.920 --> 00:45:57.320
I mean, we're going to start shortening the mental institutions too.

940
00:45:57.840 --> 00:46:00.199
I mean, FRID makes it crazy to.

941
00:46:00.400 --> 00:46:03.000
Just be really careful out there people reacting. If you're

942
00:46:03.000 --> 00:46:05.480
a trader, that's one thing. If you're a trader, jump

943
00:46:05.519 --> 00:46:09.119
on and have fun. You know you're dealing with risk capital.

944
00:46:09.440 --> 00:46:12.639
But if you're an investor that's not investing buying the

945
00:46:12.719 --> 00:46:16.480
dental supply stocks on something like this, it's just silly.

946
00:46:16.679 --> 00:46:17.039
It is.

947
00:46:17.519 --> 00:46:22.679
Hey, McDonald's stock was unchanged on the year, but got

948
00:46:22.679 --> 00:46:26.239
a little bit of a pop on a Monday. They're

949
00:46:26.320 --> 00:46:31.000
preparing their twenty twenty five value offerings, including get this time,

950
00:46:31.400 --> 00:46:35.199
buy one, and get one for a dollar. You know,

951
00:46:35.239 --> 00:46:37.159
their value meals have been the big deal, And.

952
00:46:37.199 --> 00:46:39.079
I did the five dollar meal deal the other day

953
00:46:39.119 --> 00:46:39.760
for the first time.

954
00:46:39.800 --> 00:46:42.920
It seemed like a reasonably good deal. Yeah, you know,

955
00:46:43.559 --> 00:46:45.800
your opinion, So your very opinion is.

956
00:46:45.880 --> 00:46:48.280
I ordered the five dollar meal deal, but then I

957
00:46:48.320 --> 00:46:51.239
realized I can't just eat that. That's not enough food.

958
00:46:51.320 --> 00:46:53.199
So then I had to order a Big Mac. And

959
00:46:53.280 --> 00:46:57.920
the Big Mac was more than the entire five dollars.

960
00:46:57.280 --> 00:46:59.480
So that the five dollar meal did not fill you up.

961
00:46:59.719 --> 00:47:02.320
No is what you're saying, Oh, you had to get

962
00:47:02.320 --> 00:47:04.360
two five. I've burned too many calories every Yeah, but

963
00:47:04.360 --> 00:47:04.719
you're yeah.

964
00:47:04.760 --> 00:47:06.079
I was gonna say, you're talking a guy that he's

965
00:47:06.119 --> 00:47:07.920
probably like six thousand calories a day.

966
00:47:08.440 --> 00:47:10.920
When I was when I was in high school. The McDonald's,

967
00:47:11.320 --> 00:47:14.199
I was a in the state legislature in South Dakota.

968
00:47:14.239 --> 00:47:17.000
I was a page and they had a McDonald out there,

969
00:47:17.039 --> 00:47:19.800
and I never heard of McDonald's coming from my little higtown.

970
00:47:20.159 --> 00:47:23.239
And they were assailant. Hamburger's ten for a dollar. Wow,

971
00:47:23.360 --> 00:47:25.280
ten for a dollar. I a lot of them. We'll

972
00:47:25.280 --> 00:47:27.639
be back with the second half of the Money Metter Show.

973
00:47:27.840 --> 00:47:29.719
See if we can get more Hamburgers ten for a dollar.

974
00:47:32.639 --> 00:47:35.039
Welcome back. This is the Money Matter Show, Part two,

975
00:47:35.320 --> 00:47:38.840
two point zero two point h This is the second

976
00:47:38.920 --> 00:47:42.159
half of the Money Metter Show. We're here without the Greenbergers.

977
00:47:42.199 --> 00:47:44.800
I've got Sebastian Borsini, I've got Todd Gook Junior. I'm

978
00:47:44.880 --> 00:47:48.000
Dave Sherwood, and we're bringing you up pretty much everything

979
00:47:48.039 --> 00:47:50.519
we know. We had another strong week in the market.

980
00:47:50.599 --> 00:47:53.199
It just keeps going higher. Because now was up two

981
00:47:53.199 --> 00:47:55.599
percent for the week, now six percent on the month,

982
00:47:56.679 --> 00:47:59.840
seventeen percent on the year. But the one we followed

983
00:47:59.880 --> 00:48:02.400
them most. Of course, that's only thirty stocks the Dow.

984
00:48:02.599 --> 00:48:04.400
So what we would like to see is the S

985
00:48:04.480 --> 00:48:07.119
and P five hundred, which is about five hundred and

986
00:48:07.159 --> 00:48:09.639
three stocks, because a couple of the stocks have more

987
00:48:09.679 --> 00:48:12.280
than one class of stocks. The S and P five

988
00:48:12.360 --> 00:48:15.679
hundred up one point seven on the week, four point

989
00:48:15.800 --> 00:48:18.760
six percent for the month, twenty five percent for the year.

990
00:48:18.760 --> 00:48:23.119
We were concerned October, September and October ten to be

991
00:48:24.760 --> 00:48:27.639
difficult months for the market, and both of those months

992
00:48:27.719 --> 00:48:30.079
were up about two percent. We thought maybe some of

993
00:48:30.119 --> 00:48:36.280
the historical traditional November gain was eaten up by bat

994
00:48:36.559 --> 00:48:38.480
but boy, it doesn't seem like it. And I think

995
00:48:38.599 --> 00:48:41.199
a lot of that goes to the Trump election. Had

996
00:48:41.760 --> 00:48:44.039
we had a different result, we wouldn't be talking about

997
00:48:44.079 --> 00:48:47.039
these kind of numbers. We wouldn't be talking about Bitcoin

998
00:48:47.079 --> 00:48:52.079
at one hundred thousand. All of these changed on November fifth,

999
00:48:53.079 --> 00:48:56.360
and for the better. If you're involved in the stock market,

1000
00:48:56.400 --> 00:49:01.199
which of course we're very involved in the stock market. Onward,

1001
00:49:01.320 --> 00:49:04.920
onward and upward. A lot of earnings reports this week.

1002
00:49:05.039 --> 00:49:08.199
Uh well, one company that stood out that didn't have

1003
00:49:08.280 --> 00:49:12.480
earnings but did drop its Google, Google got another DOJ

1004
00:49:13.360 --> 00:49:16.239
suit on them. Good point, Good point to me. I

1005
00:49:16.880 --> 00:49:20.320
hear this as they got another one. Who cares? Yeah,

1006
00:49:20.480 --> 00:49:21.760
I think it's an opportunity.

1007
00:49:22.440 --> 00:49:27.519
You're about Google getting another uh well, not another lossit

1008
00:49:27.599 --> 00:49:32.000
but but a but the Justice Department petitioned the court

1009
00:49:32.079 --> 00:49:38.440
to force them to spin off Chrome Google Search Chrome right,

1010
00:49:38.920 --> 00:49:41.559
which would certainly make a big difference to a lot

1011
00:49:41.559 --> 00:49:45.760
of companies. I think Apple got something like twenty two

1012
00:49:45.920 --> 00:49:51.360
billion dollars revenue from Google for Chrome being the lead

1013
00:49:51.440 --> 00:49:55.599
search engine on on the Apple iPhone. I mean, can

1014
00:49:55.639 --> 00:49:58.800
you can you name three other search engines for you know?

1015
00:49:58.960 --> 00:50:01.320
Probably not. You might be able to Todd, but I

1016
00:50:01.320 --> 00:50:03.599
don't think the average person if you said, give me

1017
00:50:03.639 --> 00:50:06.280
the names of three search engines, we'll be Google. And

1018
00:50:07.280 --> 00:50:11.000
is they all still around? And you know kind of

1019
00:50:11.039 --> 00:50:13.519
where it ends. I mean when you say google something,

1020
00:50:13.599 --> 00:50:18.719
that people literally do google something. I saw an article

1021
00:50:19.079 --> 00:50:22.800
this is this is This is sad because it's talked

1022
00:50:22.800 --> 00:50:25.280
about scammers and we see a lot of that in

1023
00:50:25.400 --> 00:50:29.639
a lot of different businesses. But that's become so pervasive

1024
00:50:29.719 --> 00:50:33.360
in our society, and there isn't a lot being done

1025
00:50:33.920 --> 00:50:37.920
about it because it is so pervasive that they really

1026
00:50:37.920 --> 00:50:41.719
can't even deal with it anymore. Whether it be text,

1027
00:50:42.119 --> 00:50:46.199
whether it be mail, primarily email I think is the

1028
00:50:46.239 --> 00:50:49.480
predominant thing. And what they're trying to do is they're

1029
00:50:49.519 --> 00:50:52.920
trying to find older Americans who are vulnerable and scam

1030
00:50:52.920 --> 00:50:56.960
them out of their money. And they're getting really, really good,

1031
00:50:57.679 --> 00:50:59.800
really good. I mean, you got to my wife and

1032
00:50:59.840 --> 00:51:01.599
I talking the other day. You just kind of have

1033
00:51:01.719 --> 00:51:06.039
to believe that everything you see as a scam. That's

1034
00:51:06.119 --> 00:51:09.679
kind of where you're got to be your default. According

1035
00:51:09.719 --> 00:51:14.039
to the FTC, the number of older Americans who report

1036
00:51:14.239 --> 00:51:17.320
losing more than one hundred thousand dollars losing more than

1037
00:51:17.320 --> 00:51:21.559
one hundred thousand dollars to fraud each year has more

1038
00:51:21.599 --> 00:51:25.960
than tripled in the last three years tripled in the

1039
00:51:26.000 --> 00:51:30.119
last three years. In twenty twenty three, forty six hundred

1040
00:51:30.159 --> 00:51:34.800
adults age sixty and older reported being defrauded of at

1041
00:51:34.880 --> 00:51:39.840
least six figures. Forty six hundred people admitted to being

1042
00:51:39.880 --> 00:51:43.360
defrauded six stage. And you know how there's a thousand

1043
00:51:43.440 --> 00:51:45.679
out there that wouldn't admit it because they're too far

1044
00:51:46.320 --> 00:51:49.960
right or more so. Forty six hundred is a small number.

1045
00:51:50.199 --> 00:51:53.840
That's up from thirteen hundred and twenty twenty, so forty

1046
00:51:53.840 --> 00:51:58.039
six hundred. Tucson has a nonprofit group called Resources to

1047
00:51:58.119 --> 00:52:00.960
Safeguard the Elderly Is a Role was r O s E.

1048
00:52:01.840 --> 00:52:04.320
We had them on the show. They have a working

1049
00:52:04.400 --> 00:52:08.880
knowledge of scams and they're trying to to educate elderly

1050
00:52:08.960 --> 00:52:10.880
people about these scams. We had them on the show

1051
00:52:10.880 --> 00:52:13.360
a few months ago. If you want to have them,

1052
00:52:13.360 --> 00:52:18.039
come speak to your organization. This is such a huge problem.

1053
00:52:18.920 --> 00:52:24.199
They can be reached at Roseadvocacy dot org. That's www

1054
00:52:24.320 --> 00:52:28.760
dot Roseadvocacy dot org. God blessed the work these people

1055
00:52:28.800 --> 00:52:31.320
are doing. They're really trying to make a difference in

1056
00:52:31.400 --> 00:52:31.719
this I.

1057
00:52:31.679 --> 00:52:33.719
Remember when we had them on, Brian talked about one

1058
00:52:33.760 --> 00:52:37.719
scam in particular, and it was it was geared towards widows,

1059
00:52:37.840 --> 00:52:40.400
people that are lonely, that are looking for a relationship.

1060
00:52:42.760 --> 00:52:44.440
That's the biggie and God.

1061
00:52:44.480 --> 00:52:45.840
I think it was a couple of weeks ago we

1062
00:52:45.880 --> 00:52:48.400
had a client in here and I it almost came

1063
00:52:48.440 --> 00:52:51.239
to my mind, like is this guy getting scammed just

1064
00:52:51.239 --> 00:52:52.880
because the way that he was talking about having a

1065
00:52:52.880 --> 00:52:56.679
conversation with somebody on Facebook, and then they're talking. They're

1066
00:52:56.719 --> 00:52:59.559
asking him do you own any Bitcoin? And it's like,

1067
00:52:59.599 --> 00:53:03.559
why are you talking about bitcoin to anybody? To anybody?

1068
00:53:03.760 --> 00:53:03.880
Right?

1069
00:53:03.920 --> 00:53:06.960
If we're trying to go about something romantically here, why

1070
00:53:07.079 --> 00:53:10.480
is that your first question? It just highlights scam to me.

1071
00:53:10.599 --> 00:53:13.400
I had a client several years ago that came to

1072
00:53:13.440 --> 00:53:15.760
me because she was trying to get some money out

1073
00:53:15.800 --> 00:53:18.639
of her account and it just didn't seem right. So

1074
00:53:18.679 --> 00:53:21.320
I said, come on in, let's talk about this. So

1075
00:53:21.360 --> 00:53:23.480
she came in and I said, what's going on? And

1076
00:53:23.559 --> 00:53:26.119
she had brought the letter with her about the guy

1077
00:53:26.199 --> 00:53:30.800
who whose father lived in England and he had died.

1078
00:53:31.559 --> 00:53:34.639
And this guy, this romantic boyfriend of hers that who

1079
00:53:34.719 --> 00:53:39.199
she'd never met, who is from Phoenix, supposedly living in

1080
00:53:39.239 --> 00:53:43.159
the Philippines, supposedly is going to get his father's ten

1081
00:53:43.239 --> 00:53:46.159
million dollars, but he has to pay the estate tax

1082
00:53:46.239 --> 00:53:49.320
up front, and he needed her to wire him some

1083
00:53:49.360 --> 00:53:51.960
more money. I said, you don't want to wire this

1084
00:53:52.000 --> 00:53:54.760
guy money. This is a scam. She said, no, no, no,

1085
00:53:55.039 --> 00:53:57.079
I know. I said, you don't know him, you don't

1086
00:53:57.119 --> 00:54:00.639
know anything about him. I said, have you send him

1087
00:54:00.639 --> 00:54:03.000
money before? Oh, yeah, he's needed some money. I've had

1088
00:54:03.000 --> 00:54:05.039
to pay for that. I said, how much money have

1089
00:54:05.159 --> 00:54:10.039
you sent him? Four hundred thousand dollars? Four hundred thousand dollars.

1090
00:54:10.840 --> 00:54:13.559
She had sent him out of her bank before she

1091
00:54:13.679 --> 00:54:16.199
got to her brokerage account, and of course that's where

1092
00:54:16.199 --> 00:54:20.239
it stopped. And my hope, my hope is that as

1093
00:54:20.320 --> 00:54:27.280
more and more computer literate people reached that age, that

1094
00:54:27.480 --> 00:54:29.480
it'll become more challenging for him.

1095
00:54:29.880 --> 00:54:31.119
They'll figure out a different way.

1096
00:54:31.280 --> 00:54:33.920
My wife and I are that age, and you're not

1097
00:54:33.960 --> 00:54:36.920
going to scam us out of anything. And I'm hoping

1098
00:54:37.559 --> 00:54:40.800
that as you guys over the years, as you guys

1099
00:54:40.800 --> 00:54:43.320
get older, that door is gonna finally shut down on

1100
00:54:43.400 --> 00:54:46.960
these guys because it's really, really disgusting.

1101
00:54:47.079 --> 00:54:49.679
I think unfortunately it won't. It's the same reason that

1102
00:54:49.719 --> 00:54:53.159
people in our industry continue coming in with bad products.

1103
00:54:53.639 --> 00:54:56.840
And it's not because everyone in our industry are bad actors,

1104
00:54:56.880 --> 00:54:59.960
probably maybe only ten fifteen percent are. But the reason

1105
00:55:00.039 --> 00:55:01.800
and we have so much paperwork that we have to

1106
00:55:01.800 --> 00:55:04.239
fill out, the reason we have to go through so

1107
00:55:04.320 --> 00:55:06.719
much due diligence, and the reason clients come in with

1108
00:55:06.760 --> 00:55:08.800
bad products is because there are bad actors out there

1109
00:55:08.800 --> 00:55:10.360
that don't really care about you at the end of

1110
00:55:10.400 --> 00:55:12.599
the At the end of the day, they care about

1111
00:55:12.760 --> 00:55:16.559
earning money in their bottom pocket, and they don't necessarily

1112
00:55:16.599 --> 00:55:19.320
care if the product performs well or not afterwards, because

1113
00:55:19.360 --> 00:55:22.239
they're most likely on a commission base. And what's the

1114
00:55:22.320 --> 00:55:25.199
incentive for a product to continue to perform well if

1115
00:55:25.280 --> 00:55:28.119
once you collect your fee, there's really are your money

1116
00:55:28.320 --> 00:55:28.679
come out?

1117
00:55:28.880 --> 00:55:32.320
You see? You see that mostly in annuities, where there's

1118
00:55:32.360 --> 00:55:36.079
a big front end commission. You could choose a number

1119
00:55:36.079 --> 00:55:39.400
of different ways to get paid on annuities, one of

1120
00:55:39.440 --> 00:55:42.360
the common ways is up front and that commission. If

1121
00:55:42.360 --> 00:55:44.599
you were to get somebody to agree to a ten

1122
00:55:44.679 --> 00:55:46.559
year deal, it can be as high as seven or

1123
00:55:46.599 --> 00:55:49.519
eight percent, you know. So you get somebody put five

1124
00:55:49.599 --> 00:55:53.559
hundred thousand dollars in the annuity, there's your forty grand

1125
00:55:53.599 --> 00:55:56.039
for this month, now next month, you know, and over

1126
00:55:56.039 --> 00:55:58.599
a year you make five hundred thousand bucks just by

1127
00:55:58.599 --> 00:56:00.320
putting one doing one annuity month.

1128
00:56:01.320 --> 00:56:03.679
So, and something that I don't like that I've seen

1129
00:56:03.719 --> 00:56:07.480
on clients accounts recently is having mutual funds that are

1130
00:56:07.519 --> 00:56:12.519
from the actual brokerage house that is holding the account.

1131
00:56:12.840 --> 00:56:15.039
For example, you could have a Chase account that has

1132
00:56:15.079 --> 00:56:19.159
only Chase mutual funds in it. Normally, when I see

1133
00:56:19.199 --> 00:56:22.440
that you're not getting the most efficient product, agree, it's.

1134
00:56:22.280 --> 00:56:23.559
A wait for them to earn a fee on top

1135
00:56:23.559 --> 00:56:23.719
of it.

1136
00:56:23.719 --> 00:56:25.679
I think the only one you could maybe say you

1137
00:56:25.719 --> 00:56:27.639
have the most efficient product is if you had Vanderguarden

1138
00:56:27.679 --> 00:56:30.079
mutual funds. Yeah, and they were indexed or something. But

1139
00:56:30.119 --> 00:56:32.559
other than that, it's most likely you could find a better,

1140
00:56:32.679 --> 00:56:36.519
cheaper product and be more efficient. And just because you're

1141
00:56:36.559 --> 00:56:39.400
at some place, In some places they require you to

1142
00:56:39.480 --> 00:56:41.960
use only their funds, which should be a red flag.

1143
00:56:42.000 --> 00:56:45.119
But you shouldn't have only one fun family making up

1144
00:56:45.119 --> 00:56:47.559
your portfolio. That you can be diverse, fied across fun

1145
00:56:47.559 --> 00:56:50.559
families the same way you're diverse trying to cross asset classes.

1146
00:56:51.639 --> 00:56:55.840
Got a couple of retail reports this weekend. We've got

1147
00:56:55.840 --> 00:57:01.079
companies going in opposite directions. Walmart moved to a new

1148
00:57:01.199 --> 00:57:04.079
all time high on Tuesday after they posted their fiscal

1149
00:57:04.159 --> 00:57:09.280
third quarter results surpassed estimates. They also boosted their guidance

1150
00:57:09.320 --> 00:57:13.760
as they're saying customers are buying more groceries and those

1151
00:57:13.800 --> 00:57:17.760
sales mostly came from households with incomes above one hundred

1152
00:57:17.800 --> 00:57:21.519
thousand dollars. I'm not sure how they know that, and

1153
00:57:21.599 --> 00:57:23.559
I kind of have to scratch my head and go

1154
00:57:24.599 --> 00:57:28.599
really interestingly, the Walmart results were excellent, but they weren't

1155
00:57:28.639 --> 00:57:34.280
as excellent as Costco. And then along came Target. What

1156
00:57:34.519 --> 00:57:35.599
and the heck happened? There?

1157
00:57:35.679 --> 00:57:36.599
It fell twenty percent.

1158
00:57:36.960 --> 00:57:39.119
It's up twenty two percent over the last twelve months,

1159
00:57:39.159 --> 00:57:42.360
plenty of more than twenty percent new fifty two week ago.

1160
00:57:42.360 --> 00:57:45.920
On Wednesday, company missed third quarter earnings and revenue by

1161
00:57:45.960 --> 00:57:49.239
the biggest margin. Now, didn't miss it by a hair

1162
00:57:50.000 --> 00:57:53.599
They missed it by the biggest margin in over two years.

1163
00:57:53.880 --> 00:57:57.480
And they slashed their full year guidance three months after

1164
00:57:57.519 --> 00:58:02.199
they raised guidance. Makes you wonder, does anybody there know

1165
00:58:02.280 --> 00:58:05.760
what the heck's going on? Who's running Who's running this ship?

1166
00:58:06.079 --> 00:58:09.960
Target cited only a slight uptick in customer traffic and

1167
00:58:10.000 --> 00:58:14.440
the CEO did lingering softness and discretionary caddy. They also

1168
00:58:14.559 --> 00:58:18.960
blamed increase shipping cost get this as a result of

1169
00:58:19.000 --> 00:58:23.000
the three day port strike. Well, why did that not

1170
00:58:23.159 --> 00:58:28.239
impact Walmart? In Costco? If that's a legitimate concern, And

1171
00:58:28.400 --> 00:58:32.159
let's say it's cored. Target's core middle class customer base

1172
00:58:32.760 --> 00:58:36.559
has been strained by higher prices and is pulling back.

1173
00:58:37.320 --> 00:58:40.679
But wouldn't that also apply to Walmart and Costco?

1174
00:58:41.000 --> 00:58:44.159
Well, No, Walmart is a little more cheaper than Target,

1175
00:58:44.239 --> 00:58:44.639
for sure.

1176
00:58:44.760 --> 00:58:45.400
About Costco.

1177
00:58:45.960 --> 00:58:50.159
Costco is a bargained dealer, and different people shop there

1178
00:58:50.360 --> 00:58:51.039
to begin with.

1179
00:58:51.239 --> 00:58:55.400
So you're thinking, you're saying that the average income of

1180
00:58:55.519 --> 00:58:59.920
a Target shopper is likely higher than Walmart.

1181
00:58:59.519 --> 00:59:02.400
Or I would no, I would say definitely higher than Walmart.

1182
00:59:02.440 --> 00:59:05.039
But I think Costco is just a different I know

1183
00:59:05.079 --> 00:59:06.800
it's retail, but Costco.

1184
00:59:06.480 --> 00:59:08.480
Is able to give you lower prices because you're buying

1185
00:59:08.480 --> 00:59:08.840
in bulls.

1186
00:59:08.880 --> 00:59:09.880
Yeah, it was a comedian.

1187
00:59:09.960 --> 00:59:12.360
If you're a single person, right like you're a twenty

1188
00:59:12.440 --> 00:59:14.719
year old, you're not going to Costco. You'd go to

1189
00:59:14.760 --> 00:59:17.360
Walmart or Target. That's what I mean by that.

1190
00:59:17.480 --> 00:59:20.280
I was listening to a comedian years ago and she

1191
00:59:20.360 --> 00:59:22.400
was talking about Price Club. It was named price Club

1192
00:59:22.440 --> 00:59:24.679
then before they changed the name to Costco. And she

1193
00:59:24.840 --> 00:59:26.639
was on the East Coast and they weren't on the

1194
00:59:26.679 --> 00:59:30.400
East Coast yet, and she was Her comedy routine was

1195
00:59:31.119 --> 00:59:35.119
about Price Club, and she said, now you don't know

1196
00:59:35.239 --> 00:59:37.880
Price Club here in New York, but let me let

1197
00:59:37.880 --> 00:59:40.679
me describe Price Club like this. You would not go

1198
00:59:40.719 --> 00:59:44.159
to Price Club to buy cheese. You would go to

1199
00:59:44.239 --> 00:59:46.559
Price Club if you were going to build something out

1200
00:59:46.559 --> 00:59:52.360
of cheese, which I thought was pretty darn clever. Target

1201
00:59:52.360 --> 00:59:54.360
really got hammer. Now. The one thing I will say

1202
00:59:54.360 --> 01:00:00.159
about about this this Target, My experience with Target has

1203
01:00:00.199 --> 01:00:02.800
been this happens from time to time, and I don't

1204
01:00:02.800 --> 01:00:07.159
know why it happens. How do you raise guidance ninety

1205
01:00:07.239 --> 01:00:10.559
days ago and then lower guidance now, that's just like

1206
01:00:10.840 --> 01:00:13.360
you don't really even have a handle on your business,

1207
01:00:13.519 --> 01:00:17.800
it seems to me. But my experience has been every

1208
01:00:17.880 --> 01:00:22.320
time Target has dropped like this in my career, it's

1209
01:00:22.360 --> 01:00:26.840
been an opportunity. Yes, it can sometimes take months. Yes,

1210
01:00:26.880 --> 01:00:30.400
it can sometimes go lower than where it initially went.

1211
01:00:30.840 --> 01:00:35.599
Probably does, right, but it has always come back to

1212
01:00:35.679 --> 01:00:36.239
a new high.

1213
01:00:36.480 --> 01:00:36.719
Yeah.

1214
01:00:36.800 --> 01:00:39.880
I think it's also hard to compare Target to your

1215
01:00:39.920 --> 01:00:44.440
traditional like Walmart, just traditional grocer because a lot of

1216
01:00:44.480 --> 01:00:46.159
Targets don't even have groceries in them.

1217
01:00:46.280 --> 01:00:50.199
Also does Walmart? What Walmart doesn't have groceries in it either?

1218
01:00:50.559 --> 01:00:51.480
They do. Most of them do?

1219
01:00:51.639 --> 01:00:52.159
All of them do?

1220
01:00:52.280 --> 01:00:54.880
All Walmarts are saying it's not just groceries. Walmart is

1221
01:00:54.880 --> 01:00:56.679
the same as Target. No, no, but Target everything.

1222
01:00:56.800 --> 01:00:59.960
Sometimes Target doesn't have groceries at all, it's just close.

1223
01:01:00.159 --> 01:01:01.760
It's just cosmetics is very rare.

1224
01:01:01.840 --> 01:01:06.039
I don't think the big Target on Grand has groceries.

1225
01:01:06.880 --> 01:01:08.119
I've been there a few times. I don't think you

1226
01:01:08.199 --> 01:01:08.719
may groceries.

1227
01:01:08.760 --> 01:01:11.039
You might be right now, A lot of them don't.

1228
01:01:11.119 --> 01:01:12.280
And that's not a lot of them.

1229
01:01:12.280 --> 01:01:15.519
You're making it sound like it's a majority.

1230
01:01:16.079 --> 01:01:18.440
I think the only well they've shifted, they've shifted towards

1231
01:01:18.440 --> 01:01:21.199
putting the groceries in each store, but they still are

1232
01:01:21.199 --> 01:01:24.760
not there yet. So what I'm trying, what I'm trying

1233
01:01:24.760 --> 01:01:26.840
to get at, is that I'm not so if I

1234
01:01:26.880 --> 01:01:28.480
need groceries, I just need to run in for milk

1235
01:01:28.519 --> 01:01:31.000
for something, I'm gonna go to Walmart instead of Target, right,

1236
01:01:31.039 --> 01:01:33.519
And if I met Walmart already and I'm getting milk,

1237
01:01:33.639 --> 01:01:35.760
the chances are I might buy something else while I'm there.

1238
01:01:36.000 --> 01:01:37.920
But that's also not true because you can get milk

1239
01:01:37.960 --> 01:01:40.519
at a gas station, you get milk at CVS, Walgreens.

1240
01:01:40.840 --> 01:01:43.920
That's an easier than Walmart. Why are you going to Walmart?

1241
01:01:43.960 --> 01:01:46.440
Well, that's just a personal thing. I guess probably might.

1242
01:01:46.679 --> 01:01:48.679
I might go to Fries, I might go to Albertson's.

1243
01:01:48.679 --> 01:01:50.880
I might go anywhere else other than Target. I don't

1244
01:01:51.039 --> 01:01:52.840
when I when I think about Target, I don't think

1245
01:01:52.840 --> 01:01:54.760
about buying my groceries at Target.

1246
01:01:54.440 --> 01:01:56.559
Because it's you. But there's plenty of people, Like my

1247
01:01:56.679 --> 01:01:58.800
sister goes to Target and that's where she does her

1248
01:01:58.800 --> 01:02:03.079
grocery shopping. A lot of women actually do go to.

1249
01:02:03.320 --> 01:02:05.599
I believe that, But I'd say that a majority of

1250
01:02:05.639 --> 01:02:08.599
people that do go grocery shopping are what families right.

1251
01:02:08.639 --> 01:02:11.679
So if I could go get a discount, get a

1252
01:02:11.719 --> 01:02:13.840
discount of Walmart, I'm going to go there instead of Target.

1253
01:02:14.519 --> 01:02:16.800
I think that the targets that have grocery stores out

1254
01:02:16.840 --> 01:02:17.880
thres superstars.

1255
01:02:17.960 --> 01:02:19.880
And that's why people who shop at Target are not

1256
01:02:19.960 --> 01:02:21.920
the ones that are worrying about money. That's why I

1257
01:02:21.920 --> 01:02:24.599
said I think they have a higher higher average income

1258
01:02:24.719 --> 01:02:27.000
at Target than they do at Walmart, because people going

1259
01:02:27.000 --> 01:02:28.760
to Walmart do care about cost savings.

1260
01:02:29.519 --> 01:02:34.199
Okay, So the the the Target that the comment about

1261
01:02:34.360 --> 01:02:39.000
about their higher end customers feeling the pinch you think

1262
01:02:39.119 --> 01:02:40.559
is valid.

1263
01:02:41.000 --> 01:02:41.920
I think it could be.

1264
01:02:42.159 --> 01:02:44.719
But I also screened with I'm just asking, yeah, and

1265
01:02:44.800 --> 01:02:45.480
I The.

1266
01:02:45.519 --> 01:02:47.519
Thing I like about Target, and I talked about this

1267
01:02:47.599 --> 01:02:50.280
last week, is they are coming online with this Taylor

1268
01:02:50.360 --> 01:02:53.800
Swift that only they're selling, right, so you get a

1269
01:02:53.800 --> 01:02:56.639
whole bunch of increase in that consumer discussion, which they

1270
01:02:56.679 --> 01:02:58.000
did terrible on last quarter.

1271
01:02:58.159 --> 01:02:59.320
Right, So then you're.

1272
01:02:59.039 --> 01:03:02.039
Gonna probably have an increasing that sector in the next report,

1273
01:03:02.119 --> 01:03:03.440
which could help you.

1274
01:03:03.360 --> 01:03:05.760
Know, pusht catalyst definitely.

1275
01:03:05.800 --> 01:03:09.000
So you know, Taylor Swift, there's a there's you know,

1276
01:03:09.519 --> 01:03:11.760
hundreds of millions of people that would go on.

1277
01:03:11.800 --> 01:03:13.480
Buy that thing. Oh yeah, no, no, there's no question.

1278
01:03:13.559 --> 01:03:15.639
But you had a little problem with your hybrid this week.

1279
01:03:15.679 --> 01:03:18.280
Huh Yeah, I mean I think it's a solar ray.

1280
01:03:18.599 --> 01:03:23.400
Yeah. I can't disagree with that, but it made me,

1281
01:03:23.480 --> 01:03:27.920
it made me realize again the I understand that the

1282
01:03:27.960 --> 01:03:31.400
appeal of a hybrid, the appeal of a hybrid, God,

1283
01:03:31.440 --> 01:03:33.000
what would you say, the appeal of a hybrid is

1284
01:03:33.159 --> 01:03:38.480
gas mileage range. That's that's absolutely the appeal. But the

1285
01:03:38.519 --> 01:03:43.320
advantage of an EV is not only avoiding the gas pump, right,

1286
01:03:43.880 --> 01:03:47.159
but with fewer moving parts. Fewer things can go wrong.

1287
01:03:48.039 --> 01:03:53.519
The average EV has twenty moving parks. The average ice

1288
01:03:53.800 --> 01:03:58.599
internal combustion engine car has over two hundred moving parts. Well,

1289
01:03:58.639 --> 01:04:00.599
what can go wrong? Well, nothing's gonna go wrong. It's

1290
01:04:00.599 --> 01:04:05.840
it's a moving part, right, Twenty versus two hundred. Maintenance

1291
01:04:05.920 --> 01:04:09.159
is a huge plus about electric vehicles that people don't

1292
01:04:09.159 --> 01:04:13.039
talk about. Once a year, Tesla comes to my office,

1293
01:04:13.679 --> 01:04:16.639
charging me sixty five dollars and rotates my tires. That's it.

1294
01:04:17.000 --> 01:04:21.639
That's it. Once a year, my wife's SUV goes in

1295
01:04:22.440 --> 01:04:25.760
as well, but it's five hundred and two one thousand

1296
01:04:25.800 --> 01:04:26.679
dollars or more.

1297
01:04:27.599 --> 01:04:30.440
Are EV tars more expensive than their regular times slightly?

1298
01:04:30.840 --> 01:04:31.840
Why does that make sense?

1299
01:04:32.119 --> 01:04:34.239
Because probably because they're carrying out that battery.

1300
01:04:35.239 --> 01:04:37.880
It's a little heavier car. Although it isn't that much heavier.

1301
01:04:37.920 --> 01:04:39.360
People talk, oh it's so.

1302
01:04:39.480 --> 01:04:40.559
Heavy, Yeah, I couldn't imagine.

1303
01:04:40.599 --> 01:04:42.360
It really isn't that much heavier. If you look, if

1304
01:04:42.360 --> 01:04:45.719
you if you google the weight of an SUV versus

1305
01:04:45.719 --> 01:04:48.840
the weight of a like In my case, I googled

1306
01:04:48.840 --> 01:04:52.800
a Tesla Model Y, which is the suv, and I

1307
01:04:52.880 --> 01:04:57.039
googled the Porsche Macon, which is a similar they're the

1308
01:04:57.079 --> 01:05:01.960
same the same way. Interesting, but Tesla. Interestingly, when Tesla

1309
01:05:02.079 --> 01:05:05.280
was first being developed, the first time Musk ever wrote

1310
01:05:05.280 --> 01:05:08.320
in it, he was really annoyed it. You can imagine

1311
01:05:08.400 --> 01:05:10.880
Musk could get annoyed very easily, right, He seems like

1312
01:05:10.920 --> 01:05:14.000
a guy that could get annoyed very easily. A lot

1313
01:05:14.000 --> 01:05:16.000
of people with a lot of power get annoyed very easily.

1314
01:05:16.039 --> 01:05:19.239
I've noticed that in my life. He was very annoyed

1315
01:05:19.280 --> 01:05:22.159
by the sound of the tires. I thought it was

1316
01:05:22.199 --> 01:05:24.480
too noisy. He said, this is not gonna work. These

1317
01:05:24.519 --> 01:05:27.320
tires are driving me nuts. So they went back to

1318
01:05:27.400 --> 01:05:32.920
the drawing board and developed a new tire that is quiet, quieter,

1319
01:05:33.199 --> 01:05:35.480
last longer. It's noting like six Ply or I don't know.

1320
01:05:35.800 --> 01:05:38.320
I'm not a tire guy, but there's there's a special

1321
01:05:38.480 --> 01:05:42.039
Tesla tire that's a lot quieter and it cuts down

1322
01:05:41.800 --> 01:05:42.920
on the road noise.

1323
01:05:43.800 --> 01:05:46.559
So if you ever, when whenever you get new tires,

1324
01:05:46.559 --> 01:05:48.039
you have to get the Tesla tires.

1325
01:05:48.360 --> 01:05:51.000
I think. So I haven't gotten new tires. I only

1326
01:05:51.000 --> 01:05:52.880
had the car for a year and a half. I've

1327
01:05:52.960 --> 01:05:55.199
leased it for three years because I wouldn't buy I

1328
01:05:55.199 --> 01:05:58.440
wouldn't buy an ev I wouldn't because I just think

1329
01:05:58.480 --> 01:06:01.719
technology is changing too rapidly that you could end up

1330
01:06:01.760 --> 01:06:05.119
with a seven year old cell phone nobody to want.

1331
01:06:05.199 --> 01:06:06.480
Get a dinosaur in two years.

1332
01:06:06.639 --> 01:06:08.920
Yeah, it could be real easily a dinosaur. I remember

1333
01:06:08.960 --> 01:06:13.039
that when when Alexis first came out, everybody wanted Alexis.

1334
01:06:13.559 --> 01:06:16.400
And at the time I was driving a Mercedes Sedan,

1335
01:06:17.000 --> 01:06:20.320
and the value that merced Sudan literally dropped fifty percent overnight.

1336
01:06:20.360 --> 01:06:23.719
When the Tesla was introduced, nobody wanted it anymore. Everybody

1337
01:06:23.760 --> 01:06:27.599
wanted Tesla, Alexis. I'm sorry, I think I said Tesla.

1338
01:06:27.719 --> 01:06:30.719
Everybody wanted Alexas when Alexis first came out. This goes

1339
01:06:30.760 --> 01:06:33.800
back aways, but one of those things you have to

1340
01:06:33.840 --> 01:06:37.280
be worried about. I think I think buying a car

1341
01:06:37.400 --> 01:06:40.960
is probably a better economic decision for most people than

1342
01:06:41.079 --> 01:06:44.599
leasing a car. But in this particular case, I think

1343
01:06:44.639 --> 01:06:48.400
a case can be made for leasing. You're probably if

1344
01:06:48.400 --> 01:06:50.599
you can afford a Tesla, you're probably not going to

1345
01:06:50.679 --> 01:06:55.320
qualify for the seventy five hundred dollars rebate anyway, so

1346
01:06:55.360 --> 01:06:57.679
you might as well lease the thing and not get

1347
01:06:57.719 --> 01:07:02.199
on the hook for the the retail price of the car.

1348
01:07:02.239 --> 01:07:05.639
Has dropped at least fifteen thousand dollars since I got mine,

1349
01:07:06.320 --> 01:07:08.440
So if I were hanging on to it, you can imagine.

1350
01:07:08.880 --> 01:07:13.280
And then, of course, in twenty twenty five, I'm sorry,

1351
01:07:13.280 --> 01:07:18.039
twenty twenty six, a record number of SUV of electric

1352
01:07:18.159 --> 01:07:20.960
vehicles are going to come off of leath because fifty

1353
01:07:21.000 --> 01:07:23.840
percent of people smartly least them.

1354
01:07:23.880 --> 01:07:25.440
They're gonna flood that used car market.

1355
01:07:25.519 --> 01:07:27.280
Yeah, We're gonna flood the used car market.

1356
01:07:27.280 --> 01:07:29.039
So that's what I'm trying to I'm trying to keep

1357
01:07:29.079 --> 01:07:31.760
my current car till twenty twenty six, and that's the year.

1358
01:07:32.559 --> 01:07:34.639
That's the new car. That's the year where Todd's going

1359
01:07:34.679 --> 01:07:37.480
electric vehicle. I don't know about electric, but definitely hybrid,

1360
01:07:37.840 --> 01:07:40.239
but maybe electric depends on how good they've got him

1361
01:07:40.280 --> 01:07:40.480
by that.

1362
01:07:40.719 --> 01:07:42.960
I love this weather because you know, in the summertime,

1363
01:07:43.199 --> 01:07:45.039
I'm lucky if I can get one hundred and sixty

1364
01:07:45.079 --> 01:07:48.760
miles out of a charge. Two fifty right now, baby, wow,

1365
01:07:48.639 --> 01:07:49.639
two fifty.

1366
01:07:49.760 --> 01:07:51.800
That's a big delta right there, you.

1367
01:07:51.920 --> 01:07:57.159
Jumping, And it really is a major disadvantage to having

1368
01:07:57.840 --> 01:07:58.599
an electric but.

1369
01:07:58.559 --> 01:08:00.800
I mean it is forty fifty degree difference.

1370
01:08:01.079 --> 01:08:03.360
Yeah, I mean, that's that's why. Yeah, it isn't. But

1371
01:08:03.400 --> 01:08:06.000
that's why they're so popular in California because it's always

1372
01:08:06.079 --> 01:08:09.239
like this. Uh, it's always seventy degrees right for the

1373
01:08:09.239 --> 01:08:11.159
most part. And so you're getting your two hundred and

1374
01:08:11.159 --> 01:08:14.079
fifty miles, well they say three hundred and ten, but

1375
01:08:14.119 --> 01:08:17.479
it's not gonna happen. They're getting your two hundred and

1376
01:08:17.520 --> 01:08:20.279
fifty miles and all it's good.

1377
01:08:20.399 --> 01:08:22.600
And when I was at the thing I had with

1378
01:08:22.640 --> 01:08:26.079
my hybrid vehicle, it said that that the hybrid EV

1379
01:08:26.359 --> 01:08:28.239
just I don't know, wasn't doing it what it was

1380
01:08:28.279 --> 01:08:30.520
supposed to. So I go to the dealership and he

1381
01:08:30.600 --> 01:08:32.640
reads and I asked him, I'm like, does the cold

1382
01:08:32.680 --> 01:08:34.760
because it got cold all of a sudden and two, like,

1383
01:08:34.800 --> 01:08:37.800
does that impact the battery at already? He's like, no, honestly,

1384
01:08:37.800 --> 01:08:39.760
it's normally when it gets too hot that's when we

1385
01:08:39.800 --> 01:08:41.720
start to see more of the issues than when it

1386
01:08:41.760 --> 01:08:44.840
gets too cold. So I found that interesting. But yeah, no,

1387
01:08:44.960 --> 01:08:47.479
I mean, he clearly codes nothing ever came back on,

1388
01:08:48.600 --> 01:08:49.880
so solar.

1389
01:08:49.640 --> 01:08:53.800
Ray maybe just a solar What happened to Ford this week?

1390
01:08:54.000 --> 01:08:55.600
They said that they were going to cut their fourteen

1391
01:08:55.720 --> 01:08:59.239
fourteen percent of its European workforce stock solid about three percent.

1392
01:09:00.319 --> 01:09:03.359
Cited significant losses in recent years driven by weak demand

1393
01:09:03.359 --> 01:09:05.920
for electric vehicles, a lack of government support for the

1394
01:09:05.960 --> 01:09:09.000
shift toward electric vehicles, and a greater industry competition is

1395
01:09:09.000 --> 01:09:09.560
what they say.

1396
01:09:09.640 --> 01:09:11.640
I have a little first hand knowledge of that because

1397
01:09:11.680 --> 01:09:15.039
I when I looked at the Mustang mock E, which

1398
01:09:15.079 --> 01:09:17.920
is their electric vehicle, I thought it was the coolest

1399
01:09:17.920 --> 01:09:21.399
looking evy out there. And I had a car that

1400
01:09:21.560 --> 01:09:24.159
was had fifty thousand miles on it, which for me

1401
01:09:24.239 --> 01:09:26.479
is a lot because I normally least and I had

1402
01:09:26.479 --> 01:09:28.159
bought this one, I had fifty thousand. I started to

1403
01:09:28.159 --> 01:09:30.279
get a little nervous about it. You know, I'm not

1404
01:09:30.359 --> 01:09:32.000
used to having a car with that kind of milege

1405
01:09:32.119 --> 01:09:34.960
fifty yeah, and that's nothing. I mean people go one

1406
01:09:35.000 --> 01:09:37.359
hundred hundred and fifty two hundred, not me.

1407
01:09:37.880 --> 01:09:38.319
So funny.

1408
01:09:38.840 --> 01:09:40.600
No, I'm just not used to having a car with

1409
01:09:40.640 --> 01:09:42.840
that kind of mileage. So I was looking around. It's

1410
01:09:42.840 --> 01:09:47.279
time to change, right, So I really wanted that Ford Mackie,

1411
01:09:47.880 --> 01:09:51.680
And I'm telling you, they are so pathetic at making it.

1412
01:09:51.680 --> 01:09:54.439
It's a beautiful car. It's a it's a uh.

1413
01:09:54.600 --> 01:09:56.479
What do you mean, like the speed that they make.

1414
01:09:56.359 --> 01:09:59.960
At manufacturing it, you probably would have bought it too.

1415
01:10:00.279 --> 01:10:02.119
I would No, I don't think I would have bought it.

1416
01:10:02.119 --> 01:10:03.279
I would have lease it though, And I would have

1417
01:10:03.319 --> 01:10:05.359
I would have leased that instead of my Tesla if

1418
01:10:05.399 --> 01:10:07.079
I could have got my hands on one, but it

1419
01:10:07.119 --> 01:10:10.880
was three to six month wait. And so Tesla's losses

1420
01:10:10.920 --> 01:10:15.159
in EV as me ford losses in electric vehicles, A

1421
01:10:15.199 --> 01:10:18.159
lot of that is because Ford is pretty pathetic at it.

1422
01:10:18.680 --> 01:10:20.479
And that's kind of what took me to Tesla. Tesla

1423
01:10:20.479 --> 01:10:22.520
has been doing it for fifteen years. Ford has been

1424
01:10:22.560 --> 01:10:25.439
doing it for fifteen minutes, you know. So that's the

1425
01:10:25.479 --> 01:10:28.800
reason that I decided to go with Tesla, because I said, well,

1426
01:10:29.039 --> 01:10:32.159
this is relatively new technology. In fact, there's brand new

1427
01:10:32.199 --> 01:10:35.479
technology to a lot of these car companies out there

1428
01:10:35.960 --> 01:10:40.760
who are feeling pressured by the EPA mileage average that

1429
01:10:40.840 --> 01:10:41.800
they have to meet, right.

1430
01:10:42.079 --> 01:10:45.920
Yeah, that's a credit based system. Yeah, and that's why

1431
01:10:46.000 --> 01:10:48.880
Tesla gets a couple billion dollars a year from other

1432
01:10:48.920 --> 01:10:51.479
car companies that can't meet that quota. They have to

1433
01:10:51.479 --> 01:10:53.680
pay Tesla to buy some credits off of them. Because

1434
01:10:53.720 --> 01:10:56.000
Tesla has such a surplus and theirs and up.

1435
01:10:56.039 --> 01:10:58.000
Why so many of these car companies are jumping on

1436
01:10:58.039 --> 01:11:00.640
board the EV bandwagon not because they want to make

1437
01:11:00.680 --> 01:11:03.880
EV right because they can or their overall my they

1438
01:11:03.920 --> 01:11:06.960
have to right. And it turns out that when you

1439
01:11:07.079 --> 01:11:09.560
have to do something, it does not necessarily mean you're

1440
01:11:09.600 --> 01:11:10.039
good at it.

1441
01:11:10.079 --> 01:11:12.520
And I think this is so funny because if Tesla

1442
01:11:12.560 --> 01:11:16.720
had failed and it was on the brink of failing, yes, yes,

1443
01:11:16.760 --> 01:11:19.520
this would not be the case. Yes, we probably still

1444
01:11:19.520 --> 01:11:23.079
have all combustion engines. Yeah, and we just still be

1445
01:11:23.119 --> 01:11:25.880
thinking EV might be the case, might be coming, might

1446
01:11:25.920 --> 01:11:26.359
be coming.

1447
01:11:26.640 --> 01:11:29.159
Yeah. Now you can't drive five miles from your household,

1448
01:11:29.239 --> 01:11:30.439
ut see it, and.

1449
01:11:30.399 --> 01:11:33.000
You were that close from that world being completely different.

1450
01:11:33.000 --> 01:11:34.960
So that's why I don't get why Ford says that

1451
01:11:35.000 --> 01:11:37.359
there's a lack of government support for it. I mean,

1452
01:11:37.399 --> 01:11:38.920
there has quite a bit.

1453
01:11:38.880 --> 01:11:41.199
A lot of government a lot of government support, and

1454
01:11:41.279 --> 01:11:43.640
it just I would I would argue that Ford has

1455
01:11:43.760 --> 01:11:46.000
just been kind of pathetic at it. We'll be back

1456
01:11:46.680 --> 01:11:48.680
with two more segments of The Money Matter Show. We

1457
01:11:48.720 --> 01:11:49.720
thank you for joining this.

1458
01:11:51.479 --> 01:11:53.720
Welcome back to the Money Matter Show. My name is Todlick.

1459
01:11:53.760 --> 01:11:57.039
I'm here with David Sherwood and so Bashion Borsini, Hey,

1460
01:11:57.199 --> 01:12:00.560
I think we had an interesting earnings report of Williams

1461
01:12:00.560 --> 01:12:02.359
Snoma this week. You want to talk about it crazy.

1462
01:12:02.399 --> 01:12:05.199
I have friends that work at Pottery Barn, which is

1463
01:12:05.199 --> 01:12:07.920
owned by Williams Sonoma, and there's been a lot of

1464
01:12:08.239 --> 01:12:12.800
housing related retail that has been talked down because of

1465
01:12:12.840 --> 01:12:18.520
this housing slowdown. And but I when I talk to

1466
01:12:18.560 --> 01:12:22.640
my friends, they have been super busy. I don't busier

1467
01:12:22.640 --> 01:12:26.319
than they've ever been at Pottery Barn and Williams Sonoma

1468
01:12:26.359 --> 01:12:28.600
and what's the other one? And I can never think

1469
01:12:28.600 --> 01:12:31.159
of the name new Elm, New something else, New Elm

1470
01:12:31.279 --> 01:12:34.199
whatever or whatever it is. We westerm thank you, That's

1471
01:12:34.239 --> 01:12:36.960
what I can never think of the name. Busier than

1472
01:12:36.960 --> 01:12:39.760
they've ever been. I thought, well, maybe that's just Tucson

1473
01:12:39.840 --> 01:12:43.119
because so many people are moving here from other parts

1474
01:12:43.159 --> 01:12:46.279
of the country. Maybe it's just just here that that's

1475
01:12:46.319 --> 01:12:51.560
going on. Stock was languishing right man, off to the races.

1476
01:12:52.479 --> 01:12:55.319
Stock I don't even remember, don't even know have the

1477
01:12:55.359 --> 01:12:58.920
percentage on it, but stop jumped to a new all

1478
01:12:58.960 --> 01:13:00.840
time high on Wednesday twenty seven and a half or

1479
01:13:01.000 --> 01:13:03.359
twenty seven and a half percent in one day now

1480
01:13:03.479 --> 01:13:07.199
stocks like that. That's like Target or Walmart or Costco

1481
01:13:07.319 --> 01:13:09.880
jumping like that. Stocks like that don't move like that

1482
01:13:10.640 --> 01:13:15.359
twenty seven percent in one day on the back of

1483
01:13:15.800 --> 01:13:19.439
a strong Orange report, an increased sales forecast, and a

1484
01:13:19.520 --> 01:13:22.640
one billion dollar stock buy back program.

1485
01:13:22.720 --> 01:13:24.960
Oh that's I had a lot to do with it.

1486
01:13:25.399 --> 01:13:28.800
Luxury home goods set. It's luxury home goods.

1487
01:13:29.319 --> 01:13:31.279
Not so much. That's restoration hardware.

1488
01:13:32.760 --> 01:13:34.119
You don't think that will more?

1489
01:13:34.439 --> 01:13:38.159
No, I think it's certainly a lot of people buy

1490
01:13:38.680 --> 01:13:41.279
a nice thing, say Pottery Barn in West Elms. This

1491
01:13:41.359 --> 01:13:45.319
is not you know, some discount purnture store. These are

1492
01:13:45.359 --> 01:13:49.680
They're expensive. It's expensive stuff, but it's not restoration hardware.

1493
01:13:49.880 --> 01:13:53.840
Restoration hardware is another level restoration hardware. You look at

1494
01:13:53.880 --> 01:13:56.159
a coffee table, it's five thousand bucksing, Are you kidding?

1495
01:13:56.199 --> 01:13:56.640
Are you kidding?

1496
01:13:56.680 --> 01:13:59.199
Really? I can get that Target for fifty bucks.

1497
01:13:59.239 --> 01:14:01.199
I think it's funny. I haven't heard like five of

1498
01:14:01.199 --> 01:14:02.800
these places you're talking about right now.

1499
01:14:02.960 --> 01:14:03.800
You haven't heard of them.

1500
01:14:03.920 --> 01:14:06.680
No, I must not be a big shopper. Where do

1501
01:14:06.720 --> 01:14:11.279
you buy your furniture American furniture Warehouse. I get the

1502
01:14:11.880 --> 01:14:13.680
furniture warehouse up on the freeway.

1503
01:14:13.800 --> 01:14:14.079
Yeah.

1504
01:14:14.239 --> 01:14:16.479
Well yeah, well originally I bought it by but they

1505
01:14:16.520 --> 01:14:17.800
just they just moved into that one.

1506
01:14:17.880 --> 01:14:19.600
Yeah, yeah, yeah, buy your house.

1507
01:14:19.680 --> 01:14:22.159
That's yeah. I already had my furniture from my old house,

1508
01:14:22.159 --> 01:14:23.880
but I'm saying that originally I bought it from them

1509
01:14:23.960 --> 01:14:24.640
up in Phoenix.

1510
01:14:24.720 --> 01:14:29.399
U huh, Yeah, I just I think I I understand

1511
01:14:29.439 --> 01:14:34.520
the concern about slowing in the housing market affecting. Sure,

1512
01:14:34.560 --> 01:14:40.960
when Williams affecting Stanley Black and Decker Lowell's home depot Williams, Sonoma.

1513
01:14:41.239 --> 01:14:44.439
But then they have the stock spike twenty seven percent

1514
01:14:44.640 --> 01:14:47.600
in one day, it's completely unheard of.

1515
01:14:47.640 --> 01:14:51.000
Well, I think Home DEEPO had a pretty good response too.

1516
01:14:51.560 --> 01:14:51.960
They did.

1517
01:14:52.039 --> 01:14:55.319
Maybe it's not necessarily that people not buying homes, so

1518
01:14:55.359 --> 01:14:56.880
they're buying things for their current home.

1519
01:14:57.760 --> 01:14:59.560
You guys heard of Stanley Drunken Miller.

1520
01:14:59.760 --> 01:15:01.079
Yeah, I have heard of him.

1521
01:15:01.319 --> 01:15:05.079
Stanley Drunken Miller is warn Buffett junior.

1522
01:15:05.159 --> 01:15:07.600
Maybe definitely up there.

1523
01:15:07.640 --> 01:15:11.000
Seventy one years old versus Warrens ninety four. I guess

1524
01:15:11.000 --> 01:15:16.439
it's seventy one year young in that world, younger than Trump, right, Yeah, yeah,

1525
01:15:17.279 --> 01:15:20.159
I mean there's so many people out there that are

1526
01:15:20.159 --> 01:15:22.279
in their seventies and eighties. They are just killing it.

1527
01:15:22.359 --> 01:15:23.880
I mean, yeah, I mean you should be out I

1528
01:15:23.880 --> 01:15:25.199
was gonna say, what the heck, David.

1529
01:15:25.119 --> 01:15:27.760
I don't know why I'm not out there. I'm stuck

1530
01:15:27.840 --> 01:15:30.319
in behind his microphone. It should be.

1531
01:15:30.359 --> 01:15:33.920
Running for Congress so you can place those trades int.

1532
01:15:33.760 --> 01:15:36.720
You should probably say, have political hair, right, you might

1533
01:15:36.800 --> 01:15:37.319
be able to.

1534
01:15:37.960 --> 01:15:40.359
Yeah, until the scandals come out, and then you're done.

1535
01:15:40.479 --> 01:15:43.680
Oh yeah, what's the scandals? I don't even know what

1536
01:15:43.720 --> 01:15:48.479
we were talking about. Oh. Existing home sales, get this. Sales

1537
01:15:48.520 --> 01:15:53.199
have previously owned homes rose three point four percent from

1538
01:15:53.239 --> 01:15:58.279
September to October, according to the National Association Realtors, two

1539
01:15:58.399 --> 01:16:02.119
point nine percent higher than last year, same period last year.

1540
01:16:02.159 --> 01:16:06.039
And I'm thinking this is existing home sales right last

1541
01:16:06.079 --> 01:16:08.680
year as there were no existing homes to be sold,

1542
01:16:09.479 --> 01:16:11.439
so that you're higher than last year. Is that really

1543
01:16:11.479 --> 01:16:14.680
a meaningful number? I mean, is that a meaningful number?

1544
01:16:15.239 --> 01:16:19.399
I don't think so. I get you know, they often

1545
01:16:19.439 --> 01:16:22.520
say you can make numbers do anything, and I think

1546
01:16:22.560 --> 01:16:23.880
that's a good, good example.

1547
01:16:24.119 --> 01:16:26.560
Well, something that you can't make do anything, but without

1548
01:16:27.319 --> 01:16:31.680
some pretty big sentiment behind the president is Trump Trump's

1549
01:16:31.680 --> 01:16:35.520
second presidency could fuel nuclear energy and uranium demand because

1550
01:16:35.560 --> 01:16:39.000
the president elects pick for the Energy Secretary hints at

1551
01:16:39.039 --> 01:16:43.239
his plans for nuclear power. So if that happens, you know,

1552
01:16:43.279 --> 01:16:48.479
there's a vice president uranium mining company, Uranium Energy Corps

1553
01:16:48.520 --> 01:16:51.159
says the fundamentals behind the supply and demand of uranium

1554
01:16:51.159 --> 01:16:52.560
have never been more bullish.

1555
01:16:52.880 --> 01:16:56.600
And get this Trump's pick you just mentioned Chris Wright.

1556
01:16:57.840 --> 01:17:02.000
Chris Wright is the CEO of oil equipment exploration company

1557
01:17:02.039 --> 01:17:05.680
Liberty Energy and is on the board of nuclear startup.

1558
01:17:05.800 --> 01:17:10.079
Oh, and that's probably why Oaklow was up.

1559
01:17:10.119 --> 01:17:11.439
Had a great week this week.

1560
01:17:11.520 --> 01:17:14.560
Yeah, yeah, yeah, And he's been a denier of climate

1561
01:17:14.680 --> 01:17:17.960
change in the global crisis. That is, no climate change.

1562
01:17:18.079 --> 01:17:21.359
Stop it. Oh, de fossils anyway, that's that's.

1563
01:17:21.199 --> 01:17:24.800
The nuclear ETF had a huge week again, that thing

1564
01:17:24.880 --> 01:17:26.520
is up nine percent on the week.

1565
01:17:26.640 --> 01:17:29.840
And ETF again, that's trading with the Trump's pick. And

1566
01:17:29.880 --> 01:17:32.079
I just think that's yeah, you gotta be careful with that.

1567
01:17:32.239 --> 01:17:35.279
But nuclear we've been talking long before Trump, and obviously

1568
01:17:35.439 --> 01:17:39.720
you need the president elect. You know, if it Kamla

1569
01:17:39.760 --> 01:17:40.760
got in, it probably wouldn't have been.

1570
01:17:40.680 --> 01:17:41.960
Good for nuclear. No, no, I get it.

1571
01:17:41.960 --> 01:17:46.159
But nuclear is really good for like everyone, and so

1572
01:17:46.319 --> 01:17:48.239
I really think we've been needing this for a while.

1573
01:17:48.279 --> 01:17:51.279
I hope it goes through. And uh, you know that

1574
01:17:51.279 --> 01:17:54.239
that's that space is very underinvested.

1575
01:17:54.640 --> 01:17:57.399
It is, and it seems like there is a resurgence

1576
01:17:57.560 --> 01:18:01.479
in nuclear in this country. It seems like there might

1577
01:18:01.520 --> 01:18:03.239
be an appetite for it.

1578
01:18:03.840 --> 01:18:07.000
People hate those windmills, They hate the solar panels, they

1579
01:18:07.079 --> 01:18:09.560
really do. They cover up the land, they make everything

1580
01:18:09.560 --> 01:18:12.199
look terrible, and uranium so much safer.

1581
01:18:12.840 --> 01:18:14.840
And I really think Todd that that if we could

1582
01:18:14.840 --> 01:18:18.079
get a resurgence in nuclear in this country and do

1583
01:18:18.159 --> 01:18:21.359
it safely, which I think we can, that it could

1584
01:18:21.359 --> 01:18:24.920
be a new day, a new day, especially for you guys,

1585
01:18:24.920 --> 01:18:25.640
for young people.

1586
01:18:26.439 --> 01:18:29.199
Oil comes down, Yep, everything gets.

1587
01:18:29.039 --> 01:18:34.479
Cheaper, yep, everything's cleaner. It really has a lot of potential,

1588
01:18:34.479 --> 01:18:37.159
and it does look like we may be giving into

1589
01:18:37.199 --> 01:18:38.640
a place where that's going to work.

1590
01:18:38.680 --> 01:18:40.520
And I think the only reason we also have and

1591
01:18:40.560 --> 01:18:42.840
we've talked for some of the reasons why nuclear has

1592
01:18:42.840 --> 01:18:45.279
been under investor for so long, there's some geopolitical risks,

1593
01:18:45.279 --> 01:18:48.479
but also oil is a big player, right and you know,

1594
01:18:48.600 --> 01:18:51.199
the oil industrial complex, and we talk about these different

1595
01:18:51.239 --> 01:18:54.279
industrial complexes all the time. But it's true when you

1596
01:18:54.319 --> 01:18:55.960
have a lot of power in the world, because you

1597
01:18:55.960 --> 01:18:57.840
have a lot of money, you can stop things from

1598
01:18:57.920 --> 01:19:01.800
taking place. Like there's a famous story about the I

1599
01:19:01.800 --> 01:19:03.960
think there was an electric car a long long time

1600
01:19:04.000 --> 01:19:06.880
ago that got killed long before, Like it could have

1601
01:19:06.920 --> 01:19:09.279
been already in the market years and years ago, but

1602
01:19:09.279 --> 01:19:10.960
it got killed by the big players. They didn't want

1603
01:19:11.000 --> 01:19:17.840
to have that competition enough. But you have all these

1604
01:19:18.119 --> 01:19:22.520
different things throughout where indust like for example, JP Morgan

1605
01:19:22.600 --> 01:19:26.239
way back in the nineteen hundreds invested in who Thomas Edison,

1606
01:19:26.239 --> 01:19:29.399
who's the more famous one, instead of who Nikola Tesla.

1607
01:19:29.800 --> 01:19:32.720
Nicola Tesla had a different energy source system that would

1608
01:19:32.720 --> 01:19:35.560
have been very abundant and free to people. Thomas and

1609
01:19:35.720 --> 01:19:38.399
Edison's that doesn't make money and it doesn't make money.

1610
01:19:38.399 --> 01:19:40.239
So what did JP Morgan do? Invest in the person

1611
01:19:40.239 --> 01:19:42.840
that's gonna make money. And that's the same thing with oil.

1612
01:19:42.880 --> 01:19:44.199
Oil makes a lot of people a lot of money.

1613
01:19:44.199 --> 01:19:46.359
They don't want to see that stop. And that's I

1614
01:19:46.359 --> 01:19:48.880
think why this space has been under invested as well

1615
01:19:48.960 --> 01:19:49.920
for the periods.

1616
01:19:50.000 --> 01:19:52.720
How people get away from Stanley Drunken Miller, I don't know,

1617
01:19:52.920 --> 01:19:54.600
let's talk about I don't know where we've made that.

1618
01:19:55.560 --> 01:19:57.960
I know you said that you forgot where you were at,

1619
01:19:58.000 --> 01:19:59.880
and then you started talking about just in whom.

1620
01:20:00.000 --> 01:20:02.359
All right, Well, I think you're right.

1621
01:20:02.479 --> 01:20:05.640
I'm right about me Stanley.

1622
01:20:05.680 --> 01:20:08.560
Stanley is seventy one versus Warren's ninety four. And it's

1623
01:20:08.600 --> 01:20:10.960
kind of interesting because the guy runs a lot of money,

1624
01:20:11.000 --> 01:20:14.279
and it's kind of interesting to like, Warren moves the market.

1625
01:20:14.479 --> 01:20:17.079
Warren's buying this or selling that the market will move.

1626
01:20:17.399 --> 01:20:20.279
Stanley not so much. But I think that's that could

1627
01:20:20.279 --> 01:20:23.600
be coming. But it is interesting a guy that has

1628
01:20:23.720 --> 01:20:28.399
this kind of experience and runs these kinds of dollars,

1629
01:20:28.479 --> 01:20:31.079
billions of dollars what he's doing with his money, and

1630
01:20:31.119 --> 01:20:35.800
this is kind of interesting. He's been buying kr. KR

1631
01:20:36.199 --> 01:20:40.279
is the regional bank ETF. And I looked at it,

1632
01:20:40.319 --> 01:20:44.520
and I said, because he thinks Trump's deregulation could really

1633
01:20:44.560 --> 01:20:47.119
help the regional banks. That makes sense, pretty good thinking.

1634
01:20:47.880 --> 01:20:50.239
So I looked at the major bank ETF which has

1635
01:20:50.279 --> 01:20:54.319
been hitting new all time highs, and the regional bank

1636
01:20:54.359 --> 01:20:58.439
ETF is still twenty percent off of the all time high.

1637
01:20:58.800 --> 01:21:01.000
Oh for it, what's worth if you miss if you,

1638
01:21:01.079 --> 01:21:04.680
if you, if banks are a part of your investment thesis,

1639
01:21:05.079 --> 01:21:07.520
Stanley thinks KI is the place to be.

1640
01:21:07.760 --> 01:21:10.119
I've thought that this for a while. Regional banks and

1641
01:21:10.159 --> 01:21:13.359
you know, they can't compete with the big guys because

1642
01:21:13.399 --> 01:21:17.600
they have more regulations put on them for the loans

1643
01:21:17.600 --> 01:21:20.159
that they're allowed to put out versus the big guys,

1644
01:21:20.239 --> 01:21:24.800
And so the big guys can loan out on riskier loans,

1645
01:21:24.840 --> 01:21:29.239
which you can't compete against. I mean, Dean has talked

1646
01:21:29.279 --> 01:21:32.239
about this. He used to be on the board of

1647
01:21:32.279 --> 01:21:34.800
a bank, and that bank you just can't compete. They

1648
01:21:34.840 --> 01:21:36.840
had to end up selling to someone else because and

1649
01:21:36.840 --> 01:21:39.159
they got about out because of that same nature. You

1650
01:21:39.359 --> 01:21:41.680
just cannot compete with the big guys because you are

1651
01:21:41.680 --> 01:21:43.600
playing by a different rule book than the big guys.

1652
01:21:43.600 --> 01:21:46.479
Are you absolutely? Are? You? Absolutely are? I thought this

1653
01:21:46.520 --> 01:21:50.119
is kind of interesting. On Tuesday, ation r block dropped

1654
01:21:50.119 --> 01:21:52.880
eight percent. Do you guys see this into it had

1655
01:21:52.920 --> 01:21:56.000
a tough day. That was the worst day for ach

1656
01:21:56.159 --> 01:22:01.600
r block since the pandemic. Trump's transition team said it's

1657
01:22:01.680 --> 01:22:05.800
considering creating a free tax filing app.

1658
01:22:07.079 --> 01:22:07.960
It's gonna be horrible.

1659
01:22:08.600 --> 01:22:12.920
I can't even imagine but I mean, as Americans, we

1660
01:22:13.000 --> 01:22:16.840
spend an awfully lot of money, billions, billions of dollars

1661
01:22:17.760 --> 01:22:20.119
trying to calculate how much money we need to send

1662
01:22:20.119 --> 01:22:22.840
to the government. Would it be nice if there was

1663
01:22:22.880 --> 01:22:24.920
an easy way to do that, if you could actually

1664
01:22:24.960 --> 01:22:28.760
go online, go to an app, and and fill that out.

1665
01:22:29.239 --> 01:22:32.159
Then there's a lot of people whose taxes are very simple,

1666
01:22:32.640 --> 01:22:35.920
who have to pay hundreds of dollars to someone to

1667
01:22:36.439 --> 01:22:41.239
put the information in the right blank. It makes you beat,

1668
01:22:41.479 --> 01:22:42.600
you look doubtful.

1669
01:22:43.760 --> 01:22:46.520
I think the website's gonna suck. I think too many

1670
01:22:46.560 --> 01:22:48.000
people are gonna go on it. It's gonna look like

1671
01:22:48.039 --> 01:22:50.079
the fucks mobile app.

1672
01:22:50.239 --> 01:22:51.840
Well, it's a government website, so what do you want?

1673
01:22:51.920 --> 01:22:53.640
That's what I mean. It's gonna look horrible. So I'm

1674
01:22:53.680 --> 01:22:55.319
not even gonna be able to access it.

1675
01:22:55.439 --> 01:22:58.920
So Warner Brothers Discovery finally got a little bit of

1676
01:22:58.960 --> 01:23:00.960
love this week. It was off from AT and T

1677
01:23:01.039 --> 01:23:05.800
and it's been been dead money for years. Suddenly, rallied

1678
01:23:05.800 --> 01:23:08.239
twenty five percent in the last three months, moved higher

1679
01:23:08.279 --> 01:23:11.279
on Monday after the media conglomerate reached the settlement with

1680
01:23:11.359 --> 01:23:15.439
the NBA over allegations of breach of contract when it

1681
01:23:15.520 --> 01:23:18.960
was spent off from AT and T. I advice clients

1682
01:23:18.960 --> 01:23:21.039
to hang on to it is very small part of

1683
01:23:21.039 --> 01:23:24.479
their portfolio because I thought all of the consolidation in

1684
01:23:24.560 --> 01:23:28.600
the streaming industry would probably get they'd probably get caught

1685
01:23:28.640 --> 01:23:30.640
up in that. You'd probably get a bid, maybe make

1686
01:23:30.840 --> 01:23:34.239
fifty seventy five percent on very little money. It was.

1687
01:23:34.359 --> 01:23:36.920
It was a small spin off, and it just has

1688
01:23:37.000 --> 01:23:40.560
been laying there, like if this was your EKG, you

1689
01:23:40.600 --> 01:23:43.840
would not be happy. Okay, if you're looking at this

1690
01:23:44.439 --> 01:23:47.560
chart and it was your EKG, it's not good news.

1691
01:23:48.840 --> 01:23:52.279
But just suddenly within the past month or so, up

1692
01:23:52.319 --> 01:23:57.279
twenty five percent, and talk of consolidation, talk of different programming.

1693
01:23:58.079 --> 01:24:01.239
Content is so important. Every but he talks about content

1694
01:24:01.479 --> 01:24:04.479
is critical. We saw Netflix get a boost because people

1695
01:24:04.479 --> 01:24:07.520
are willing to actually watch commercials to have access to

1696
01:24:07.600 --> 01:24:10.239
their content. So we've got one more segment. We'll be

1697
01:24:10.279 --> 01:24:12.640
back right after this break. Thanks again for joining this.

1698
01:24:15.159 --> 01:24:16.840
Welcome back to the Money Matter Show. My name is

1699
01:24:16.840 --> 01:24:19.640
Sebastian Borerseni. I'm here with Todd click Junior David Sherwood,

1700
01:24:19.640 --> 01:24:21.199
and we are on the last segment of the Money

1701
01:24:21.239 --> 01:24:21.720
Matter Show.

1702
01:24:22.800 --> 01:24:24.680
Well, there's the interesting thing I saw this week when

1703
01:24:24.680 --> 01:24:27.159
I was talking with the client about the differences between

1704
01:24:27.600 --> 01:24:31.079
changing industries, and this one client mentioned Iron Mountain. Iron

1705
01:24:31.079 --> 01:24:33.439
Mountain is a paper shredding company.

1706
01:24:33.600 --> 01:24:34.880
And then storage company.

1707
01:24:34.920 --> 01:24:38.239
Actually they do a lot of shredding as well for papers.

1708
01:24:38.520 --> 01:24:42.159
And it's like one of those parallels where you can

1709
01:24:42.199 --> 01:24:45.119
see what's the opposite of using paper DOCKU dock you

1710
01:24:45.239 --> 01:24:48.079
sign right, and so well, if you have some Iron

1711
01:24:48.119 --> 01:24:51.199
Mountain shares, take half of that, put a doc tig right,

1712
01:24:51.960 --> 01:24:54.079
someone's gonna win in there. It's probably going to be

1713
01:24:54.119 --> 01:24:56.760
the new technology over a long period of time. Another

1714
01:24:56.880 --> 01:25:00.439
example what we've already seen take place Netflix Blockbuster. If

1715
01:25:00.479 --> 01:25:03.079
you took half your Blockbuster stock at the time Netflix

1716
01:25:03.119 --> 01:25:05.079
came out and put it in Netflix and bet on

1717
01:25:05.119 --> 01:25:08.119
both industries, you would have turned out really good, happy.

1718
01:25:08.319 --> 01:25:12.920
Yeah. That's probably the worst business decision in the history

1719
01:25:13.079 --> 01:25:19.600
of business decisions, Blockbuster passing on acquiring Netflix. Yeah yeah,

1720
01:25:19.720 --> 01:25:24.520
or probably the single most ridiculous or not ridiculous, the

1721
01:25:24.560 --> 01:25:28.039
single biggest error anyone's ever made in business.

1722
01:25:27.760 --> 01:25:29.680
Like one single error for sure. I think the only

1723
01:25:29.720 --> 01:25:32.960
thing else that rivals that is that the multitude of

1724
01:25:33.039 --> 01:25:36.039
errors that the Apple present CEO made when Steve Jobs

1725
01:25:36.079 --> 01:25:37.960
left and almost ran that company to the ground.

1726
01:25:39.399 --> 01:25:43.039
But the Blockbuster did run there, Yeah, they did run. Yeah,

1727
01:25:43.399 --> 01:25:45.920
I get Speaking of Netflix, you talk.

1728
01:25:45.840 --> 01:25:48.479
About real quick, I was gonna say, also about like

1729
01:25:48.760 --> 01:25:52.439
CVS and Walgreens, what's the opposite of that Amazon? Like

1730
01:25:52.520 --> 01:25:55.359
I most if I was at my age twenty years ago,

1731
01:25:55.359 --> 01:25:57.359
I probably do go to Walman to pick up some

1732
01:25:57.399 --> 01:26:00.000
of the stuff that I ordered from Amazon now, right,

1733
01:26:00.079 --> 01:26:03.039
But that's gonna same with you, probably, David, you get

1734
01:26:03.079 --> 01:26:05.800
Amazon boxes all the time. You probably might have actually

1735
01:26:05.800 --> 01:26:07.359
went to a brick and mortar at one point to

1736
01:26:07.359 --> 01:26:09.119
get that stuff, and you probably actually did. You are

1737
01:26:09.159 --> 01:26:10.199
only the other way to get.

1738
01:26:10.119 --> 01:26:10.880
It, no question.

1739
01:26:11.079 --> 01:26:14.920
So it's like seeing both of the industries and saying, okay,

1740
01:26:14.960 --> 01:26:18.399
well they're connected one there's a change here, well that

1741
01:26:18.479 --> 01:26:21.800
change to take place, There's no certainty, but we've seen

1742
01:26:21.840 --> 01:26:24.000
the trends that a lot of things have gone digital.

1743
01:26:24.079 --> 01:26:26.720
So being able to take some of those legacy companies

1744
01:26:27.239 --> 01:26:29.119
and being able to put some of that money into

1745
01:26:29.159 --> 01:26:33.880
the new stuff helps diversify you around just being into Eventually,

1746
01:26:33.920 --> 01:26:35.760
like if you were just staying in standard oil for

1747
01:26:35.800 --> 01:26:39.039
the last one hundred years, you missed out on a lot,

1748
01:26:39.039 --> 01:26:40.560
but one hundred years ago it was the best stock

1749
01:26:40.640 --> 01:26:43.159
to be in. Yeah, you know, right, So you have

1750
01:26:43.239 --> 01:26:45.399
to be able to change with the times.

1751
01:26:45.720 --> 01:26:48.439
I've said over the past a few weeks that if

1752
01:26:48.479 --> 01:26:50.760
you want to do a financial plan with you guys,

1753
01:26:50.880 --> 01:26:52.560
that this is a good time to get in because

1754
01:26:52.560 --> 01:26:56.359
the holidays people tend to be doing other things. You

1755
01:26:56.399 --> 01:26:59.159
guys were slammed this week. I guess people paid attention

1756
01:26:59.239 --> 01:27:00.520
to what we said. Huh. Yeah.

1757
01:27:00.560 --> 01:27:03.119
I think we did what five six financial planning meetings,

1758
01:27:03.119 --> 01:27:04.560
a couple different proposal meetings.

1759
01:27:04.720 --> 01:27:07.039
Yeah, it was a busy week for sure, and a

1760
01:27:07.039 --> 01:27:10.600
lot of risk analyzing as well on portfolios to help

1761
01:27:10.680 --> 01:27:13.720
see the tax drag you know, expense ratios, the risk

1762
01:27:13.760 --> 01:27:16.640
of each portfolio that the stress tests the portfolio goes

1763
01:27:16.680 --> 01:27:18.600
through in comparison to the S and P and things

1764
01:27:18.640 --> 01:27:18.880
like that.

1765
01:27:18.960 --> 01:27:21.479
And I think the tax drag portion of the risk

1766
01:27:21.479 --> 01:27:24.039
analyzing tools is really cool, really cool for especially for

1767
01:27:24.039 --> 01:27:25.960
those big accounts, so that you know, you come in,

1768
01:27:26.039 --> 01:27:28.600
you give us the holdings and it's like you're totally

1769
01:27:28.640 --> 01:27:31.199
invested in mutual funds and you're paying up to one

1770
01:27:31.239 --> 01:27:32.159
percent in fees.

1771
01:27:33.039 --> 01:27:34.960
You'll see that a lot of times with a managed

1772
01:27:34.960 --> 01:27:37.720
account where people are charging you a fee to manage

1773
01:27:38.840 --> 01:27:42.640
holding that are charging you a fee. We don't hold

1774
01:27:42.720 --> 01:27:46.159
mutual funds for that reason. We have the Vanguard Money

1775
01:27:46.159 --> 01:27:48.039
Market Fund is the only mutual fund we have, and

1776
01:27:48.079 --> 01:27:50.039
that's because they're paying five and or four and a

1777
01:27:50.079 --> 01:27:54.239
half percent and our clearing firm is paying point eight. Oh,

1778
01:27:54.359 --> 01:27:56.000
we're going to have four and a half better than

1779
01:27:56.000 --> 01:27:56.439
point eight.

1780
01:27:56.520 --> 01:27:58.640
And also the expense ratio is like point one one.

1781
01:27:58.720 --> 01:28:01.720
Yeah, nothing, nothing, it's nothing. So that's but you guys

1782
01:28:01.760 --> 01:28:04.119
have been so busy, busy, don't what's the biggest concern

1783
01:28:04.319 --> 01:28:06.600
you're hearing anything any theme?

1784
01:28:06.760 --> 01:28:08.199
Social Security is getting cut.

1785
01:28:08.359 --> 01:28:09.319
Yeah, that's ridiculous.

1786
01:28:09.319 --> 01:28:11.399
I'm just kidding. That's probably not the biggest one. The

1787
01:28:11.439 --> 01:28:13.760
biggest one, I'd say is like the over extension of

1788
01:28:13.800 --> 01:28:17.000
this rally. People were questioning it.

1789
01:28:17.279 --> 01:28:20.279
It's one of the most unloved rallies in history, it

1790
01:28:20.399 --> 01:28:23.760
really is. It's a very unloved rally. That's I hear it.

1791
01:28:24.479 --> 01:28:26.840
Last week, Todd, you talked about the big fight you

1792
01:28:26.880 --> 01:28:30.199
were all excited for turned out to be a big bust.

1793
01:28:30.159 --> 01:28:32.840
But it also wasn't busted in terms of financial.

1794
01:28:32.399 --> 01:28:35.520
Though the only winners were the two boxers and Netflix.

1795
01:28:35.159 --> 01:28:40.239
And Netflix yeah, Netflix shareholders. Yeah. And I was watching

1796
01:28:40.279 --> 01:28:42.039
this and the thing that stood out to me, and

1797
01:28:42.039 --> 01:28:44.479
this was before the fight even really took place. Jerry

1798
01:28:44.600 --> 01:28:49.000
Jones went onto the Tyson fight and he says, I'm

1799
01:28:49.079 --> 01:28:51.680
really excited about Netflix. And just so if people don't

1800
01:28:51.720 --> 01:28:53.680
know this, this fight was held at at and T Stadium,

1801
01:28:53.720 --> 01:28:57.600
Jerry's World, right, So Jerry Jones is there, owner Dallas Cowboys,

1802
01:28:57.600 --> 01:29:00.520
one of the most influential owners in the NFL, and

1803
01:29:00.560 --> 01:29:04.039
he was on Netflix saying, I'm really excited about Netflix,

1804
01:29:04.079 --> 01:29:06.600
the future of NFL and Netflix together. We have our

1805
01:29:06.640 --> 01:29:09.920
first Netflix NFL game this year, which is the Chiefs

1806
01:29:09.920 --> 01:29:13.039
and the I believe the Raiders on Christmas Day. That

1807
01:29:13.119 --> 01:29:16.880
market because of the global nature of their audience base

1808
01:29:17.000 --> 01:29:20.479
and what does the NFL want to do expand globally.

1809
01:29:20.960 --> 01:29:24.279
I think it's a perfect connection there and I think

1810
01:29:24.319 --> 01:29:27.680
that will eventually turn into a synergistic relationship in the future.

1811
01:29:27.720 --> 01:29:29.119
And that's why I think we've seen some of the

1812
01:29:29.119 --> 01:29:31.159
games we've seen out of Netflix lately.

1813
01:29:31.720 --> 01:29:36.600
It was the most streamed global sporting event ever.

1814
01:29:37.359 --> 01:29:40.319
That Mike Tyson, Yes, oh my God.

1815
01:29:40.359 --> 01:29:42.319
The most stream and it was a bust, that big bust.

1816
01:29:42.600 --> 01:29:45.439
So just imagine if you have NFL, which everyone loves,

1817
01:29:45.479 --> 01:29:47.880
not everyone, but a lot of people love, right, and

1818
01:29:47.920 --> 01:29:51.520
you can start getting that global At presence, it could

1819
01:29:51.520 --> 01:29:52.479
be interesting.

1820
01:29:52.600 --> 01:29:54.520
I just worry about the global adoption of it because

1821
01:29:54.520 --> 01:29:57.239
why hasn't it happened already basketball? You've seen in China

1822
01:29:57.319 --> 01:29:59.800
people love basketball, people love the NBA. Well we see

1823
01:29:59.800 --> 01:30:00.520
that in the NFL.

1824
01:30:00.680 --> 01:30:00.840
Well.

1825
01:30:00.880 --> 01:30:03.199
Also, if you think about how do you consume NFL

1826
01:30:03.239 --> 01:30:06.920
here in America, If you don't have the Sunday ticket,

1827
01:30:07.199 --> 01:30:09.800
you don't and there's a lot of regulation put on it.

1828
01:30:09.880 --> 01:30:12.279
So that's what NFL is trying to get around. They

1829
01:30:12.319 --> 01:30:15.600
want to make it more accessible to the everyday person

1830
01:30:15.720 --> 01:30:17.279
because that's ultimately how you grow adoption.

1831
01:30:17.720 --> 01:30:21.960
In turn, you're gonna get huge, huge contracts for these players, right.

1832
01:30:22.199 --> 01:30:26.479
I mean, the old legacy cable system allowed Netflix to

1833
01:30:26.680 --> 01:30:29.680
I mean allowed NFL to use the NFL Sunday ticket,

1834
01:30:29.640 --> 01:30:31.960
and it did makes sense. But at this point with

1835
01:30:32.039 --> 01:30:35.840
the streaming world, the NBA is way ahead of the NFL,

1836
01:30:36.600 --> 01:30:38.319
you know, and I think that's the big difference.

1837
01:30:38.359 --> 01:30:41.039
Have you watch the NBA now, it's just on anything.

1838
01:30:41.520 --> 01:30:43.239
It's pretty much on anything. But you can get League

1839
01:30:43.239 --> 01:30:45.640
Pass anywhere and it's drastically cheaper.

1840
01:30:46.079 --> 01:30:47.800
The NBA seems like it's not a lot.

1841
01:30:48.680 --> 01:30:52.600
China loves NBA too, that's a oh yeah. NBA did

1842
01:30:52.640 --> 01:30:54.560
a huge push into China. That's why a couple of

1843
01:30:54.640 --> 01:30:57.399
years ago some of the high end NBA players where

1844
01:30:57.439 --> 01:31:00.800
you know, they like, for example, the Rock Gets they

1845
01:31:00.800 --> 01:31:03.560
said something bad about China, and China was like, what'd

1846
01:31:03.600 --> 01:31:05.399
you just say? And then they had to take they

1847
01:31:05.439 --> 01:31:08.279
had to take it back, you know, so they're they're yeah, NBAS.

1848
01:31:08.000 --> 01:31:08.720
A little beholden.

1849
01:31:08.920 --> 01:31:11.319
It's kind of NBA might be owned by China at

1850
01:31:11.319 --> 01:31:11.680
this point.

1851
01:31:13.000 --> 01:31:16.039
And a name that that a couple of years ago

1852
01:31:16.079 --> 01:31:18.600
you couldn't give away Robin Hood, right, it was kind

1853
01:31:18.600 --> 01:31:22.399
of fading into oblivion. It's tripled over the last twelve months.

1854
01:31:22.399 --> 01:31:26.439
It's a financial services platform, if you don't know, tripled

1855
01:31:26.479 --> 01:31:29.079
over the last twelve months, up more than eight percent

1856
01:31:29.119 --> 01:31:32.600
to a three year high on Monday, after Needham upgraded

1857
01:31:32.680 --> 01:31:35.720
this fact to a buy. Firm believes and again here

1858
01:31:35.760 --> 01:31:40.000
we go. Firm believes changes that the sec under Trump

1859
01:31:40.760 --> 01:31:44.560
will lead to more product launchers from the company. Piper

1860
01:31:44.640 --> 01:31:47.279
Sandler also became more bullish on the name, with an

1861
01:31:47.359 --> 01:31:50.479
updated price reflecting about a ten percent gain off of

1862
01:31:50.479 --> 01:31:54.199
Friday's close higher on Wednesday after the company announced they've

1863
01:31:54.199 --> 01:31:59.279
acquired trade PMR to boost this advisory category. So this

1864
01:31:59.479 --> 01:32:03.239
kind of thing, Todd you were talking about, where get

1865
01:32:03.640 --> 01:32:06.279
Gensler out of the way, the sec gains Aler out

1866
01:32:06.279 --> 01:32:09.479
the way. It's not just bitcoin, it's regulations in general.

1867
01:32:10.399 --> 01:32:12.399
Robin Hood has done a really good job at really

1868
01:32:12.439 --> 01:32:15.680
pushing people onto their platform given incentives. They got something

1869
01:32:15.720 --> 01:32:18.119
coming out it's called like a gold credit card, And

1870
01:32:18.239 --> 01:32:20.039
essentially what you're gonna be able to do is, you know,

1871
01:32:20.119 --> 01:32:23.039
every swipe that you every purchase that you make, you're

1872
01:32:23.039 --> 01:32:24.840
gonna get three percent back, and that with that three

1873
01:32:24.880 --> 01:32:27.279
percent rewards points, you could go straight into your robbin

1874
01:32:27.319 --> 01:32:30.199
hood account and buy stock with it. Talking about it,

1875
01:32:30.239 --> 01:32:33.439
you could buy fractional shares. Even so, it's I think

1876
01:32:33.439 --> 01:32:35.920
that's pretty incentivizing. I would think about doing that myself.

1877
01:32:36.159 --> 01:32:38.880
Yeah, younger person that wants to a lot of people

1878
01:32:39.000 --> 01:32:39.720
use robin Hood.

1879
01:32:40.319 --> 01:32:42.840
Yeah, it's in general three percent cash back is it

1880
01:32:42.960 --> 01:32:43.479
three percent?

1881
01:32:43.840 --> 01:32:46.600
It's very generous, and it's just the accessibility of it's

1882
01:32:46.600 --> 01:32:48.920
already into my brokerage account. I could go and buy

1883
01:32:49.039 --> 01:32:51.079
Apple stock ors T get it straight into the S

1884
01:32:51.119 --> 01:32:54.039
and P five hundred. It's kind of anything.

1885
01:32:54.399 --> 01:32:54.680
Wow.

1886
01:32:55.439 --> 01:32:58.159
And you know, I don't know the exact terms. We'll

1887
01:32:58.159 --> 01:33:01.119
see how long the three percent lasts. Four but that's

1888
01:33:01.119 --> 01:33:02.479
what they're incentivizing right now.

1889
01:33:02.479 --> 01:33:05.359
A lost leader. You think, maybe you think look at

1890
01:33:05.399 --> 01:33:06.000
the details.

1891
01:33:06.039 --> 01:33:08.279
I think eventually maybe you know, they're not gonna be

1892
01:33:08.319 --> 01:33:10.880
able to pay out that three percent fee for everybody,

1893
01:33:10.960 --> 01:33:13.800
so you end up doing like what Apple does. Apple

1894
01:33:13.840 --> 01:33:16.239
card does one percent back at grocery stores and two

1895
01:33:16.239 --> 01:33:17.479
percent back at gases.

1896
01:33:17.600 --> 01:33:19.239
And that's my bank of my America right.

1897
01:33:19.279 --> 01:33:21.119
Right, So I think eventually you'll probably have to go

1898
01:33:21.239 --> 01:33:26.199
that route. But in order to get people onto your platform, yeah,

1899
01:33:26.199 --> 01:33:28.800
this is really incentivizing for people. You know, I'm gonna

1900
01:33:28.800 --> 01:33:30.680
put I'm gonna jump into a three percent why not?

1901
01:33:31.119 --> 01:33:34.439
Yeah? Three percent? Everything is pretty significant. I don't buy

1902
01:33:34.479 --> 01:33:38.199
gas anymore, so I forgot about that.

1903
01:33:38.720 --> 01:33:41.039
You can't put your energy bill on your credit card.

1904
01:33:41.239 --> 01:33:41.720
I'm sorry.

1905
01:33:41.840 --> 01:33:43.520
You gotta put your energy bill on your credit card?

1906
01:33:43.600 --> 01:33:44.520
Which energy bill?

1907
01:33:45.439 --> 01:33:46.319
House energy bill?

1908
01:33:46.399 --> 01:33:48.000
Oh you talk about my electric bill?

1909
01:33:48.359 --> 01:33:48.880
Yeah?

1910
01:33:49.039 --> 01:33:51.960
Yeah, yeah, But other you have another energy bill.

1911
01:33:52.199 --> 01:33:55.800
Well there's okay, water is energy, gas is energy.

1912
01:33:55.880 --> 01:33:59.439
You're gonna tell me on particular, all of these.

1913
01:33:59.319 --> 01:34:02.000
Things are energy. Which intergey, are you talking about the

1914
01:34:02.079 --> 01:34:08.600
energy to run my car? No, but that's the typical

1915
01:34:08.640 --> 01:34:11.600
where you get one three percent and I can pick

1916
01:34:11.640 --> 01:34:16.159
the category that I get three percent on, and not surprisingly,

1917
01:34:16.600 --> 01:34:20.760
dining out is what I pick, since we get takeout

1918
01:34:20.840 --> 01:34:21.359
every night.

1919
01:34:21.880 --> 01:34:25.359
And I think Robin and like TD your marriag trade

1920
01:34:25.359 --> 01:34:27.079
for example, they used to have a really cool think

1921
01:34:27.159 --> 01:34:29.560
or swim platform. I'm pretty sure it's still around. It

1922
01:34:29.600 --> 01:34:33.199
is still around, just owned by Charles Schwab. Now Robinhood

1923
01:34:33.239 --> 01:34:35.720
is coming out with their desktop version of a trading platform.

1924
01:34:35.840 --> 01:34:37.239
Trading View is better than all of them.

1925
01:34:37.520 --> 01:34:40.039
No idea what it looks like. It's really Actually you

1926
01:34:40.039 --> 01:34:41.560
can't place trades to trading View.

1927
01:34:41.760 --> 01:34:43.640
You can, good Joe, yep, you just got to connect

1928
01:34:43.640 --> 01:34:44.079
your broker.

1929
01:34:44.159 --> 01:34:44.800
How cool is that?

1930
01:34:44.800 --> 01:34:48.079
I didn't know that Trading View is the the trade

1931
01:34:48.119 --> 01:34:50.680
desk that I use for my analysis on all the

1932
01:34:50.720 --> 01:34:52.960
start trating view. Trading View is what it's called. Is

1933
01:34:53.000 --> 01:34:55.680
there a subscription for that? Yes, there's a free subscription,

1934
01:34:55.760 --> 01:34:56.359
but I pay.

1935
01:34:56.279 --> 01:35:01.359
For the consider that a good one. I somebody were so.

1936
01:35:01.560 --> 01:35:03.840
And we also use things like shack and analytics and

1937
01:35:03.880 --> 01:35:06.479
that's that's how we able to analyze the stocks. And

1938
01:35:06.520 --> 01:35:07.720
we're not just going off.

1939
01:35:07.640 --> 01:35:09.560
News of of a home gamer. Where do you want

1940
01:35:09.560 --> 01:35:11.880
to sign up for that? How would they do that? Oh?

1941
01:35:11.920 --> 01:35:13.520
You just go a trading view and it has all

1942
01:35:13.520 --> 01:35:14.479
the options.

1943
01:35:14.039 --> 01:35:19.119
Tradenview dot comview dot com. Okay, it's a.

1944
01:35:18.880 --> 01:35:21.840
Great charting platform. It has all the fundamental analysis there

1945
01:35:21.840 --> 01:35:24.680
with it too. I won't say all because you know,

1946
01:35:24.680 --> 01:35:27.720
you got to do some work yourself, do some due diligence.

1947
01:35:28.239 --> 01:35:29.760
Kind of information on that little thing.

1948
01:35:29.800 --> 01:35:31.439
If your home gamer would be something to look at

1949
01:35:31.520 --> 01:35:35.720
to something that Todd who is a professional uses, and

1950
01:35:35.960 --> 01:35:39.119
it's always nice to know what tools, uh, people who

1951
01:35:39.239 --> 01:35:41.880
do it for a profession use. And we've coming to

1952
01:35:42.000 --> 01:35:44.079
the end of the Money Matter show. We missed the

1953
01:35:44.079 --> 01:35:47.279
Greenberg's but we'll get we'll get over it. We wish

1954
01:35:47.359 --> 01:35:51.399
everyone out there a super happy Thanksgiving. Weather sounds like

1955
01:35:51.439 --> 01:35:53.880
it's going to be perfect, and we want to be happy.

1956
01:35:54.640 --> 01:35:57.760
We want to be healthy. Greenberg Financial, we really want

1957
01:35:57.760 --> 01:36:00.600
to be profitable. You're excellent