May 18, 2025

Market Resilience & Rally: Why Staying Invested Pays Off

Market Resilience & Rally: Why Staying Invested Pays Off
The player is loading ...
Market Resilience & Rally: Why Staying Invested Pays Off
Market Resilience & Rally: Why Staying Invested Pays Off
Apple Podcasts podcast player badge
RSS Feed podcast player badge
Spotify podcast player badge
Amazon Music podcast player badge
Apple Podcasts podcast player icon RSS Feed podcast player icon Spotify podcast player icon Amazon Music podcast player icon

In this episode of Money Matters , brought to you by Greenberg Financial Group, we break down the powerful market rebound that’s pushed the S&P 500 back into positive territory for the year—now more than 20% off the April lows. After a volatile stretch, a key driver has emerged: the pause on U.S./China tariffs. We dive into which sectors and companies have benefited most from this rally, explore how long the momentum could last, and ask the big questions: Is a recession still on the horizon? Are prices going to rise even more?
We also highlight how our financial planning process has helped our clients stay calm during turbulence—and even seize opportunities when stocks go on sale. Don’t miss this timely look at what’s driving markets and how to stay positioned for what’s next.
If you would like to contact us to learn more about our firm and our process call us at 520.544.4909 or go to our website at www.Greenbergfinancial.com or email us at Contact@Greenbergfinancial.com

WEBVTT

1
00:00:00.360 --> 00:00:03.399
Good morning everybody. It's that time again, Sunday morning, eight

2
00:00:03.439 --> 00:00:06.919
o'clock right here on seven ninety k NST. And this

3
00:00:07.040 --> 00:00:09.119
is Dean Greenberg, and I'm gonna bring you the Money

4
00:00:09.119 --> 00:00:10.679
Matter Show, and the rest of the group will be

5
00:00:10.759 --> 00:00:14.439
here later. Can you believe we are now making money

6
00:00:14.439 --> 00:00:19.760
for the year? The markets are now up for the year? Okay?

7
00:00:20.039 --> 00:00:21.679
And why do I make such an effets on that,

8
00:00:21.719 --> 00:00:23.760
Because I know it's not really hot that high up.

9
00:00:23.800 --> 00:00:26.280
I mean, you got to Dow up point three percent,

10
00:00:26.320 --> 00:00:28.600
you got then the S and P up maybe point

11
00:00:28.679 --> 00:00:31.879
one percent, and the Knaves DAGs down to half and

12
00:00:31.960 --> 00:00:35.840
Russell's down. But the one that's up the most is

13
00:00:35.880 --> 00:00:38.560
the Russell or the S and P five hundred well

14
00:00:39.000 --> 00:00:43.640
equal rating, and they are up two point seven percent.

15
00:00:44.840 --> 00:00:49.399
Why is it such a big deal? Because it reflects

16
00:00:49.679 --> 00:00:51.719
on where we are as a country right now more

17
00:00:51.759 --> 00:00:58.200
than anything. Because right now you hear nothing, hear nothing

18
00:00:59.640 --> 00:01:01.719
about the markets are now back up for the year.

19
00:01:02.240 --> 00:01:04.359
But about a month ago, month and a half ago,

20
00:01:04.519 --> 00:01:10.079
all we heard was Trump is destroying your four one

21
00:01:10.159 --> 00:01:15.719
K plan, Trump is destroying your investments. Trump is ruining you.

22
00:01:15.719 --> 00:01:19.640
You better watch out and you better not shout you

23
00:01:19.760 --> 00:01:23.560
better just get out. That's all we heard as a

24
00:01:23.640 --> 00:01:28.719
market slid from the fifty nine hundred level down to

25
00:01:30.159 --> 00:01:33.519
forty eight hundred, back to about fifty one hundred, and

26
00:01:33.519 --> 00:01:38.400
then we have rallied. We have rallied twenty from those

27
00:01:38.439 --> 00:01:40.879
olders that go back up to where we are now.

28
00:01:41.000 --> 00:01:44.920
But all you heard was in the media, in social media.

29
00:01:45.480 --> 00:01:50.120
Your four to one K plan is destroyed. He's destroying, destroying, destroying.

30
00:01:50.480 --> 00:01:52.840
And now that we're back up and now things are

31
00:01:52.879 --> 00:01:57.560
starting to look better. Now there are negotiations going on.

32
00:01:57.719 --> 00:01:59.920
It looks like we can get some type of negotiation,

33
00:02:00.680 --> 00:02:04.040
possibly peace in the Middle East. People are wanting to

34
00:02:04.040 --> 00:02:08.319
do business with us again. But you hear nothing, no chirping,

35
00:02:08.400 --> 00:02:11.800
know nothing about Hey, you know what, maybe we were wrong.

36
00:02:12.719 --> 00:02:17.439
Only good people admit when they blast you on something

37
00:02:17.479 --> 00:02:22.280
that's bad, that they're wrong. But you know what, how

38
00:02:22.360 --> 00:02:24.759
will you feel right now if you sold out everything

39
00:02:25.479 --> 00:02:27.479
when they were telling you how bad it was and

40
00:02:27.560 --> 00:02:30.159
how much further down it was going and it's not

41
00:02:30.479 --> 00:02:32.639
going to be good and we're going into a recession

42
00:02:32.960 --> 00:02:36.080
and everything's going to be terrible. They did the same

43
00:02:36.120 --> 00:02:37.960
thing when he was in when he first got into it,

44
00:02:38.039 --> 00:02:41.360
we destroy the economy. He's going to destroy the economy.

45
00:02:41.840 --> 00:02:45.800
I'm telling you right now. He's got good, smart people

46
00:02:46.280 --> 00:02:49.879
around him. He's a visionary. He's not the same. He

47
00:02:49.960 --> 00:02:53.479
doesn't do the detailed work. He's a visionary of wanting

48
00:02:53.479 --> 00:02:55.800
to get things done. And he's a common sense guy

49
00:02:56.080 --> 00:02:58.719
that understands how we're going to get to where we

50
00:02:58.759 --> 00:03:01.879
need to get to. We talked about journeys. You go

51
00:03:02.000 --> 00:03:04.319
from point day to point B. You know how you

52
00:03:04.360 --> 00:03:07.919
want to get there. But it's not smooth. Sometimes you

53
00:03:08.000 --> 00:03:10.919
got problems, sometimes you don't. It's been so saying Trump,

54
00:03:10.960 --> 00:03:13.560
and he's told us is we're gonna have some problems.

55
00:03:13.599 --> 00:03:18.000
I never thought we'd be back here this quickly. But

56
00:03:18.080 --> 00:03:22.000
we did what we always do. We had mitigating risk

57
00:03:22.080 --> 00:03:25.240
on when it came down, we took off the mitigation

58
00:03:25.400 --> 00:03:28.879
risk and we went in and started buying for people

59
00:03:28.879 --> 00:03:32.039
that were underinvested. We got started buying into more quality

60
00:03:32.080 --> 00:03:37.280
stuff that was maybe get done and got more invested. Well,

61
00:03:37.319 --> 00:03:40.960
now it's come up here. You know, evaluations are high again.

62
00:03:41.039 --> 00:03:43.680
Different things can happen again. So we're taking a little

63
00:03:43.680 --> 00:03:47.240
bit money off the table again. Maybe we're gonna break out,

64
00:03:47.280 --> 00:03:50.360
Maybe we're gonna go to new highs. We don't know.

65
00:03:50.800 --> 00:03:52.919
What I do now. Is selling up here is a

66
00:03:52.960 --> 00:03:55.000
hell of a lot better than selling at five thousand.

67
00:03:55.479 --> 00:03:57.439
Buying at five thousands a hell of a lot better

68
00:03:57.479 --> 00:04:00.439
than buying up here. I know that, I can tell

69
00:04:00.439 --> 00:04:03.840
you that for sure. I still think the market's got volatility.

70
00:04:03.840 --> 00:04:05.719
I still think the market has a little risk. I

71
00:04:05.719 --> 00:04:08.120
don't think we're gonna go all the way back down,

72
00:04:08.319 --> 00:04:13.080
but I can't be for sure. I know this evaluations

73
00:04:13.080 --> 00:04:14.960
a little higher. I'm gonna take a little bit of

74
00:04:14.960 --> 00:04:16.800
money off the table. I'm gonna reduce my risk a

75
00:04:16.839 --> 00:04:19.279
little bit, and I'm gonna look for an opportunity if

76
00:04:19.279 --> 00:04:21.360
we come back, or for some other stocks to go.

77
00:04:21.839 --> 00:04:24.480
Remember how nobody wanted Boeing and how bad Boeing was

78
00:04:24.560 --> 00:04:26.879
and nobody should be there, And all of a sudden,

79
00:04:26.920 --> 00:04:31.600
it's back over two hundred, IBM down on was one seventy.

80
00:04:31.680 --> 00:04:34.079
We're talking about how good IBM should be, and that's

81
00:04:34.120 --> 00:04:35.959
the next one to buy. Now it's making all time

82
00:04:36.000 --> 00:04:40.120
new highs. I'm not saying you step up now and

83
00:04:40.160 --> 00:04:43.480
buy these stocks. What I'm saying is opportunities are always

84
00:04:43.519 --> 00:04:47.079
there if you want to go ahead and understand that

85
00:04:47.199 --> 00:04:51.240
it takes time for these to come back. The only

86
00:04:51.319 --> 00:04:53.399
one that's been sitting down there for a long time

87
00:04:53.439 --> 00:04:56.279
and I don't know if I would step up. I

88
00:04:56.360 --> 00:04:58.279
tried to one time, and then I took some law

89
00:04:58.399 --> 00:05:02.000
and moved into other things was Intel. I mean, you

90
00:05:02.040 --> 00:05:04.240
would think by now Intel will get their act together.

91
00:05:04.319 --> 00:05:07.240
I just don't know if they will. But all the

92
00:05:07.319 --> 00:05:11.279
chip stocks, all these all these stocks that are part

93
00:05:11.319 --> 00:05:16.240
of AI that was doing great, that got annihilated, they've

94
00:05:16.240 --> 00:05:19.399
come back nicely. Not to where they were, but they've

95
00:05:19.399 --> 00:05:21.920
come back about sixty seventy percent of where they were,

96
00:05:22.560 --> 00:05:26.839
which is a good move back up. Maybe this is

97
00:05:27.319 --> 00:05:29.199
maybe they'll pull back a little bit and then go

98
00:05:29.240 --> 00:05:31.519
back to where they want and make new highs. But

99
00:05:31.560 --> 00:05:34.480
you know what's funny. All those data centers, remember that

100
00:05:35.279 --> 00:05:38.000
they were doing great. Everything attached the data center was

101
00:05:38.040 --> 00:05:40.439
doing great, and all of a sudden, deep seat came

102
00:05:40.480 --> 00:05:43.639
out and everyone was saying, oh, no, no, no, no,

103
00:05:43.759 --> 00:05:46.120
maybe we'll you know, got to slow down here. Maybe

104
00:05:46.120 --> 00:05:49.319
there's other stuff, maybe it's cheaper. And now they're all

105
00:05:49.319 --> 00:05:53.480
back on that wagon again. They're all back on that wagon.

106
00:05:54.839 --> 00:05:58.240
That's why you never sell everything. But you can reduce positions.

107
00:05:58.480 --> 00:06:01.360
That's why you always diversify, so you never know which

108
00:06:01.360 --> 00:06:04.040
one's gonna be your best winner or your or your

109
00:06:04.040 --> 00:06:09.759
biggest loser. Diversification allocation is the key to being successful

110
00:06:10.120 --> 00:06:12.959
in these markets. We had a good week. I mean

111
00:06:13.000 --> 00:06:14.560
the Dow was up three and a half, the S

112
00:06:14.680 --> 00:06:17.000
and P was up five and a half, the NAZAC

113
00:06:17.120 --> 00:06:19.720
was up seven, the Russell was up for equal weighted

114
00:06:19.839 --> 00:06:22.800
S and P was up for that's a good week.

115
00:06:22.920 --> 00:06:25.160
It's even better that it's better than good. It's a

116
00:06:25.199 --> 00:06:28.319
great week. So where do we go from here? That's

117
00:06:28.360 --> 00:06:31.279
the question. I think we could still try to grind

118
00:06:31.279 --> 00:06:33.360
a little higher. We could have a little bit of

119
00:06:33.360 --> 00:06:35.319
a pullback. I don't think. I think right now we're

120
00:06:35.360 --> 00:06:39.680
back into that two three percent full back buy because

121
00:06:39.720 --> 00:06:41.399
I think they're gonna try to bring this higher. What

122
00:06:41.519 --> 00:06:47.439
is out there now, The deals are being done now,

123
00:06:47.480 --> 00:06:50.680
the market's always forecast what happens further. Could we still

124
00:06:50.720 --> 00:06:53.040
have a recession? I guess so. Uh, you know it's

125
00:06:53.079 --> 00:06:56.000
probably gonna happen. You're gonna see some prices going up,

126
00:06:56.040 --> 00:06:58.160
and those are the ones that are uh, the left

127
00:06:58.160 --> 00:07:00.120
and never the media are all gonna hop on. Look, look

128
00:07:00.120 --> 00:07:02.319
at these prices. They're going through the sky. But they

129
00:07:02.319 --> 00:07:04.199
don't want to look at the other things going down.

130
00:07:04.399 --> 00:07:05.800
They don't want to look at the fact that the

131
00:07:05.839 --> 00:07:10.199
PPI and the CPI numbers are actually going down, not up.

132
00:07:10.600 --> 00:07:12.879
But they make excuses for them. Well, you know, with

133
00:07:12.959 --> 00:07:15.439
the tariffs and all, they can go higher. They could,

134
00:07:16.079 --> 00:07:19.720
but maybe they won't. It's pretty interesting. Walmart comes out

135
00:07:19.720 --> 00:07:23.399
with earnings this week, the CEO says, yeah, we're probably

136
00:07:23.439 --> 00:07:26.079
gonna have to raise rates, raise prices. You know, it

137
00:07:26.120 --> 00:07:28.759
could say lost some money and they want excuses. The

138
00:07:28.839 --> 00:07:32.399
pas CEO says, they're already built in. They don't have

139
00:07:32.480 --> 00:07:36.279
to raise prices. They got the cushions, they got the relationships,

140
00:07:36.480 --> 00:07:40.399
and then they probably won't have to raise prices. So

141
00:07:40.959 --> 00:07:44.600
at the end of the day, don't believe anyone. Do

142
00:07:44.720 --> 00:07:48.839
your research, look at pricing and understand when things get

143
00:07:48.839 --> 00:07:52.360
too good, pair back and when things get too bad

144
00:07:52.439 --> 00:07:56.560
by don't listen to us social media, don't listen to

145
00:07:56.600 --> 00:08:00.040
all these economists. Think about how many people told you

146
00:08:00.399 --> 00:08:04.959
we're having a recession. Guess what's one thing that left

147
00:08:05.000 --> 00:08:11.480
to do. It's the FED lowering interest rates. You know,

148
00:08:11.720 --> 00:08:14.120
they're afraid of tarifts before, so they couldn't lower it,

149
00:08:14.360 --> 00:08:16.079
but they thought that they should lower it in case

150
00:08:16.120 --> 00:08:19.240
we have it slowed down. Well, the tariff situation isn't

151
00:08:19.240 --> 00:08:23.120
getting to to be so bad. Prices are coming down,

152
00:08:23.360 --> 00:08:29.639
oil is coming down. So now what if he keeps

153
00:08:29.639 --> 00:08:33.559
making deals so around the world and people start looking

154
00:08:33.639 --> 00:08:38.679
towards peace and prosperity rather than, like he said, trade

155
00:08:38.720 --> 00:08:43.600
prosperity not nukes. You know, maybe this world would be

156
00:08:43.600 --> 00:08:46.320
a safer place. But it's really interesting to me as

157
00:08:46.360 --> 00:08:49.600
I watched him travel through the Middle East this week

158
00:08:51.279 --> 00:08:59.720
and how the audience enjoys them and he's the same

159
00:09:00.039 --> 00:09:03.519
talks to them like he's talking to normal human beings

160
00:09:04.039 --> 00:09:07.960
and these are the princess and the presidents and the

161
00:09:08.000 --> 00:09:13.000
dictators of all these other countries. But immedia just doesn't

162
00:09:13.039 --> 00:09:16.519
get it. Sometimes they don't understand you can talk to

163
00:09:16.559 --> 00:09:23.159
people normally. Oh, he's siding with them. Cutter is trying

164
00:09:23.200 --> 00:09:25.120
to get an edge in to give us these planes.

165
00:09:25.120 --> 00:09:30.320
This is unconstitutional. This is corrupt. This is this. You

166
00:09:30.360 --> 00:09:34.000
know what's corrupt is when you do things that nobody

167
00:09:34.000 --> 00:09:40.919
else knows about, like making deals with Ukraine and getting

168
00:09:40.960 --> 00:09:46.080
kickbacks making deals with China, with your son being the

169
00:09:47.200 --> 00:09:51.200
head of it. That's corrupt and nobody knows about it

170
00:09:51.480 --> 00:09:57.320
and it's always put under the rug. What's corrupt is

171
00:09:57.360 --> 00:10:01.399
fifty million dollars not having it being spent by Democrats

172
00:10:02.120 --> 00:10:04.440
and not having any tag on it on what it

173
00:10:04.519 --> 00:10:11.480
was spent for, and then finding out it's spent for parties, planes, trips,

174
00:10:11.840 --> 00:10:17.600
personal stuff. That's corrupt. Then when he just said, hey,

175
00:10:17.639 --> 00:10:19.360
we need to know where every penny goes, and all

176
00:10:19.399 --> 00:10:22.120
of a sudden nobody's asking for the money anymore. Isn't

177
00:10:22.159 --> 00:10:29.440
that interesting? But because cutter off is a plane to

178
00:10:29.480 --> 00:10:34.320
the United States of America Department of Defense, you know

179
00:10:34.399 --> 00:10:37.759
that Congress has to agree for it or not. It's

180
00:10:37.799 --> 00:10:41.720
not Trump agreeing to it and saying, okay, this is it.

181
00:10:41.799 --> 00:10:47.480
That's a dictatorship. Whatever he says goes a democracy is

182
00:10:47.519 --> 00:10:49.759
when hey, yeah, that's a great idea. Why do we

183
00:10:49.759 --> 00:10:52.039
put out all this money. We can say five hundred

184
00:10:52.080 --> 00:10:55.320
million dollars right now and stop having to fix up

185
00:10:55.320 --> 00:10:58.080
our planes and have the plane over the only thing

186
00:10:58.159 --> 00:11:01.720
I thought, my first thing was not that there was kickbacks,

187
00:11:01.799 --> 00:11:06.480
not that there was promises or could uh uh or

188
00:11:06.600 --> 00:11:10.279
anything like that. I thought like, Okay, are we going

189
00:11:10.360 --> 00:11:16.559
to make sure that this plane is definitely no, no, no,

190
00:11:16.960 --> 00:11:19.960
it's there's no spy equipment on it. There's nothing that

191
00:11:20.000 --> 00:11:22.120
they can do to get into and bring the plane down,

192
00:11:22.559 --> 00:11:25.600
nothing like that. That's the only thing I thought was, Okay,

193
00:11:26.200 --> 00:11:28.960
can that will they have control of the technology? Is

194
00:11:28.960 --> 00:11:31.200
the conduct? There are there bugs in the conduct to

195
00:11:31.279 --> 00:11:34.080
spy on us with the technology. That's the only thing

196
00:11:34.120 --> 00:11:36.000
I thought. And then you know, you think, well, I

197
00:11:36.039 --> 00:11:38.639
hope respond enough with all the technology we have that

198
00:11:38.720 --> 00:11:41.840
we we cleanse it and we make sure there's nothing

199
00:11:41.879 --> 00:11:44.759
there and no one else can control the planes. I

200
00:11:45.120 --> 00:11:49.120
I was looking at it from a perspective of of safety,

201
00:11:49.600 --> 00:11:55.159
not from a perspective of of greed and and and

202
00:11:55.320 --> 00:11:58.559
and and and and gratitude and stuff. I mean, at

203
00:11:58.559 --> 00:12:03.080
the end of the day, we give away everything and

204
00:12:03.159 --> 00:12:08.440
nobody owes us anything. Have they look at look at NATO,

205
00:12:08.840 --> 00:12:10.399
Look what we have to do to get them to

206
00:12:10.519 --> 00:12:13.200
do give us the money that they have agreed to,

207
00:12:14.039 --> 00:12:16.519
and yet we keep putting in all the money. But

208
00:12:16.600 --> 00:12:18.440
now they finally agreed to it. Did you see that

209
00:12:19.000 --> 00:12:22.200
they will agree to paying five percent of the GDP

210
00:12:23.639 --> 00:12:26.679
as this world gets rescue and riskier. Well, that's what

211
00:12:26.720 --> 00:12:30.159
we need. We'll be there to protect. You do your share,

212
00:12:30.200 --> 00:12:34.279
We'll do our share. But can you imagine now if

213
00:12:34.360 --> 00:12:37.960
Syria gets on board, and then Iran gets on board,

214
00:12:38.879 --> 00:12:46.200
and Hezbollah goes away and har Mosque goes away, and

215
00:12:46.240 --> 00:12:49.960
the Palestinians can go back and live and rebuild their

216
00:12:50.000 --> 00:12:56.120
place without the fear of war, and Israelis can go

217
00:12:56.159 --> 00:12:58.639
and live their life without feeling they're going to be

218
00:12:58.679 --> 00:13:04.279
attacked at any moment. But until Iran does not have

219
00:13:04.399 --> 00:13:11.840
their nuclear power or the ability for a nuclear bomb,

220
00:13:13.399 --> 00:13:18.879
that's not going to go away. But they need to

221
00:13:18.919 --> 00:13:22.559
make a deal with the United States. China they're open

222
00:13:22.639 --> 00:13:27.200
to talks. You know, everyone said, oh, China is all

223
00:13:27.200 --> 00:13:29.919
okay on their own. They don't need us, They don't

224
00:13:29.919 --> 00:13:34.279
need us. We need them. Well, as the news came

225
00:13:34.320 --> 00:13:37.080
out and as you saw, they would say their factories

226
00:13:37.080 --> 00:13:40.279
were closing down. We talked about it on the show

227
00:13:40.679 --> 00:13:42.639
that from people that we knew that were over there,

228
00:13:43.039 --> 00:13:46.480
they were hurting. They were hurting. Yes, can can a

229
00:13:46.480 --> 00:13:52.080
communist nation survive by going ahead and just taking care

230
00:13:52.080 --> 00:13:54.240
of the people? And everything they do goes back to

231
00:13:54.279 --> 00:13:56.639
the to the to the country, Yes, but they don't

232
00:13:56.639 --> 00:14:00.440
want to be like that. They want prosperity, they want

233
00:14:00.480 --> 00:14:03.759
an economy. They want it because that makes them more

234
00:14:03.919 --> 00:14:10.519
richer and powerful as a communist party, because when you

235
00:14:10.600 --> 00:14:13.480
don't go that, you get unrest, and when you get

236
00:14:13.519 --> 00:14:15.879
billions of people that might be unrest, you're going to

237
00:14:15.919 --> 00:14:20.159
have a problem on your hands. So they're going to

238
00:14:20.200 --> 00:14:23.159
go ahead and they want to make a deal, and

239
00:14:23.240 --> 00:14:28.000
part of that is opening back up to US companies.

240
00:14:28.279 --> 00:14:30.679
But again, will they fulfill it, will they stay with it?

241
00:14:30.919 --> 00:14:32.840
I'm not so sure. If I was Apple that I

242
00:14:32.840 --> 00:14:34.759
would want to just say that probably want to go

243
00:14:34.879 --> 00:14:37.720
other places, but I would also want to come back here.

244
00:14:39.120 --> 00:14:42.320
You know, he's not taking the tariffs off everything. He

245
00:14:42.440 --> 00:14:44.399
still wants companies to come back here. He's still going

246
00:14:44.440 --> 00:14:47.080
to be a minimum ten percent tariff, which is great

247
00:14:47.080 --> 00:14:51.080
for us. But as you're seeing, it's things that have

248
00:14:51.159 --> 00:14:54.519
to be done. It's good for the economy. The things

249
00:14:54.519 --> 00:14:57.480
that are happening are good for the economy, and he's

250
00:14:57.519 --> 00:15:03.519
doing this all trying to make it safer. There's not

251
00:15:03.720 --> 00:15:06.480
one positive thing I hear from the left about the border,

252
00:15:06.639 --> 00:15:11.919
not one. All we kept hearing about is we can't

253
00:15:12.279 --> 00:15:15.039
you've got to have you have to you have to

254
00:15:15.080 --> 00:15:17.600
have the give a day in court to these three

255
00:15:17.639 --> 00:15:23.080
million people that are here illegally to make sure that

256
00:15:23.120 --> 00:15:27.639
they don't have a reason that they can stay here. Meanwhile,

257
00:15:27.679 --> 00:15:30.360
I thought it was brilliant by the administration to come

258
00:15:30.399 --> 00:15:33.039
up and say, hey, if you're here illegally in the

259
00:15:33.120 --> 00:15:38.559
last few years, if you're here illegally, you know you're

260
00:15:38.559 --> 00:15:41.039
not supposed to and if we find you, and especially

261
00:15:41.080 --> 00:15:44.559
if you're doing something bad, you get deported, you're done.

262
00:15:45.720 --> 00:15:48.360
They're like, we will pay for you to go back

263
00:15:48.360 --> 00:15:51.799
to your country. We will give you thousand dollars a

264
00:15:51.840 --> 00:15:55.480
person to go back to where your country is, and

265
00:15:55.519 --> 00:15:58.399
then you can get in line to come back, and

266
00:15:58.440 --> 00:16:04.080
we'll try to expediate that the other way. There's nothing

267
00:16:04.120 --> 00:16:07.600
wrong with that. There's nothing wrong with that. But I

268
00:16:07.600 --> 00:16:14.600
don't understand now the Democrats want to fight that. Will

269
00:16:14.639 --> 00:16:17.919
there be some people that are illegal that are sent back,

270
00:16:18.600 --> 00:16:24.080
that are good people, working people, family people, probably, but

271
00:16:24.200 --> 00:16:30.000
it's still illegal. I hope that anybody that's here that's

272
00:16:30.240 --> 00:16:34.200
legally here would not be sent back and there won't

273
00:16:34.200 --> 00:16:38.039
be those type of mistakes. Obviously, I do not want

274
00:16:38.080 --> 00:16:42.799
that to happen. But if people are here illegally and

275
00:16:42.840 --> 00:16:45.320
they haven't done any and they don't want to take

276
00:16:45.360 --> 00:16:50.320
their situation and they're taking a risk, but the chances

277
00:16:50.360 --> 00:16:52.320
of a good person that had been here for a

278
00:16:52.360 --> 00:16:56.360
while that's here illegal, as I'm understanding it, it's going

279
00:16:56.399 --> 00:16:59.320
to be very hard because they're not looking for them.

280
00:17:00.559 --> 00:17:03.960
They're not looking for them. They're looking for the people

281
00:17:04.039 --> 00:17:07.359
that have come here over the last few years illegally,

282
00:17:07.599 --> 00:17:12.599
but looking for the people that are criminals, gang members, killers, murderers,

283
00:17:14.119 --> 00:17:20.759
people with records. That's what they're looking for. That's going

284
00:17:20.839 --> 00:17:23.559
to take a while. Then we'll move forward from there.

285
00:17:25.680 --> 00:17:27.720
But one of the things I do believe we should

286
00:17:27.759 --> 00:17:34.240
be doing and looking at is people that were that

287
00:17:34.400 --> 00:17:41.440
came here with their parents, graduated high school, graduated college.

288
00:17:41.480 --> 00:17:46.240
They're still living here quote considered illegal, but they've got jobs,

289
00:17:47.079 --> 00:17:50.480
they're paying taxes to doing those things. They're still illegal,

290
00:17:50.519 --> 00:17:54.279
but we need to find something for them. We need

291
00:17:54.319 --> 00:17:57.359
to go ahead and make them feel comfortable that they

292
00:17:57.400 --> 00:18:00.720
can be here as they contribute to America. They've been here,

293
00:18:00.720 --> 00:18:03.240
they went to high school here, even they went to

294
00:18:03.279 --> 00:18:07.519
colleges here, and they've been working here. They've been contributing

295
00:18:07.559 --> 00:18:13.200
to being an American even though they're not. Those are

296
00:18:13.200 --> 00:18:16.200
the people we got to find common ground for. Common

297
00:18:16.279 --> 00:18:21.519
sense would work on that situation. So now we put

298
00:18:21.519 --> 00:18:25.240
this all together, I do believe over time, over these

299
00:18:25.279 --> 00:18:30.480
four years, we're going to see very good markets. We're

300
00:18:30.480 --> 00:18:33.920
gonna get this tax bill done. You're gonna put money

301
00:18:33.920 --> 00:18:41.519
in people's pockets that work on tips, social Security over time,

302
00:18:41.839 --> 00:18:47.680
hard working American senior citizens that could definitely use a

303
00:18:47.720 --> 00:18:52.000
tax break by just not paying taxes on things that

304
00:18:52.240 --> 00:18:59.680
are over and above. And honestly, you know a lot

305
00:18:59.680 --> 00:19:02.359
of people I know don't like this, but they said

306
00:19:02.359 --> 00:19:06.759
it anyway. On people making a lot of money, I

307
00:19:06.799 --> 00:19:09.480
mean a lot of money if you get taxed another

308
00:19:09.680 --> 00:19:13.000
one and a half percent because you raise the highest

309
00:19:13.000 --> 00:19:19.519
tax bracket over I don't know, a million dollars a year, Okay,

310
00:19:20.160 --> 00:19:25.240
I'm okay with that. It's a compromise. I'm a compromiser

311
00:19:26.319 --> 00:19:29.039
that shows say, hey, I'm giving money to people working

312
00:19:29.039 --> 00:19:32.279
on tits, which are usually people not making five hundred

313
00:19:32.279 --> 00:19:36.759
thousand dollars. I'm giving Social Security taking tax onf They've

314
00:19:36.759 --> 00:19:39.599
already paid their taxes on Social Security when they when

315
00:19:39.599 --> 00:19:42.000
they when they were earning their moneys. Now I'm giving

316
00:19:42.039 --> 00:19:46.079
them a break. People that work hard to do overtime

317
00:19:46.119 --> 00:19:49.039
because they need more money, they want to save more money.

318
00:19:49.880 --> 00:19:52.880
Don't tax them on that. I'm okay, I'm okay with that.

319
00:19:57.440 --> 00:20:01.519
To go ahead and raise the top tax bracket just

320
00:20:01.599 --> 00:20:07.920
a little bit, not a lot. That's a compromise. See,

321
00:20:07.920 --> 00:20:12.160
we all have to compromise. Both sides have to compromise. Okay,

322
00:20:12.440 --> 00:20:14.960
the Republicans are going to have to get together and

323
00:20:15.000 --> 00:20:17.799
compromise and make sure they get this bill done. If

324
00:20:17.799 --> 00:20:21.640
we screw this up like we did last time, shame

325
00:20:21.680 --> 00:20:26.240
on us, Shame on us. We've got the momentum, we've

326
00:20:26.240 --> 00:20:29.640
got the people. They're excited. Now we have to go

327
00:20:29.720 --> 00:20:34.519
ahead and make sure the job gets done. And if

328
00:20:34.519 --> 00:20:37.240
that job gets done, you and I both know what's

329
00:20:37.240 --> 00:20:42.119
gonna happen. We're gonna be doing fantastic in America. People

330
00:20:42.160 --> 00:20:44.359
are gonna be happy again. They're gonna be making more

331
00:20:44.440 --> 00:20:47.279
money to pay for a few things that might be

332
00:20:47.359 --> 00:20:50.400
a little bit more expensive. But the markets are gonna

333
00:20:50.400 --> 00:20:53.039
go higher, So the fall one K plans are gonna

334
00:20:53.079 --> 00:20:54.720
go higher. And you're not gonna hear anyone on the

335
00:20:54.759 --> 00:20:57.680
left say Hey, look at this fall one k plans,

336
00:20:58.000 --> 00:20:59.599
even though they all want it to be higher, and

337
00:20:59.640 --> 00:21:02.519
they feel good about it. And if you can imagine

338
00:21:02.680 --> 00:21:05.400
if we can get Europe to unify and help, and

339
00:21:05.440 --> 00:21:08.759
we get Ukraine and Russia to stop fighting, and we

340
00:21:08.839 --> 00:21:12.119
get peace in the Middle East, and then look what

341
00:21:12.160 --> 00:21:16.440
he did with India and Pakistan. He got that stop

342
00:21:16.559 --> 00:21:20.160
pretty quickly. That doesn't mean it's gonna always be stopped,

343
00:21:21.160 --> 00:21:23.599
but right now there's a cease fire, no one's dying.

344
00:21:24.920 --> 00:21:27.359
That's what we need to get in Ukraine. And then

345
00:21:27.359 --> 00:21:29.559
we got to get that in the Middle East. Then

346
00:21:29.640 --> 00:21:34.160
start working towards a real, real deal. You get the

347
00:21:34.200 --> 00:21:36.759
world moving in the right direction. You know, everyone said, oh,

348
00:21:36.759 --> 00:21:41.319
well global economy. Yeah, a global economy with a hell

349
00:21:41.359 --> 00:21:43.480
of a lot of fighting going on all out in

350
00:21:43.480 --> 00:21:48.039
the world, which only opens the door for greed and

351
00:21:48.119 --> 00:21:51.079
obviously for people doing things they're not supposed to do.

352
00:21:51.880 --> 00:21:54.000
We you know, we said this for years and we've

353
00:21:54.039 --> 00:21:56.680
never heard an answer. All the money we give to Ukraine,

354
00:21:56.759 --> 00:22:00.160
where does it go. We don't follow the money, the

355
00:22:00.200 --> 00:22:02.759
money we give to Israel, the money we give around

356
00:22:02.759 --> 00:22:05.799
the world. We don't have a way to follow the

357
00:22:05.839 --> 00:22:08.359
money of where it's going, and you know it lands

358
00:22:08.400 --> 00:22:12.759
in the pockets of the power. Some does go all

359
00:22:12.759 --> 00:22:15.519
the places, some in the power. We need to make

360
00:22:15.599 --> 00:22:17.920
the world better. We always talk in America. You got

361
00:22:17.960 --> 00:22:22.559
everyone protesting in America for equal opportunities. I love equal opportunities.

362
00:22:24.160 --> 00:22:29.599
I don't like checkbox opportunities. It's a difference. Equal opportunities

363
00:22:29.640 --> 00:22:33.119
means everybody has an opportunity to do it. The best

364
00:22:33.119 --> 00:22:35.839
person gets the job, the best person gets to be

365
00:22:35.960 --> 00:22:39.200
the first string, the best person gets that. If you

366
00:22:39.279 --> 00:22:41.680
want to get to that. If the argument is we

367
00:22:41.759 --> 00:22:44.759
got to give more opportunities to people that don't always

368
00:22:44.799 --> 00:22:48.079
have those doors open, I'm all for it. But I'm

369
00:22:48.079 --> 00:22:50.680
not all for Okay, we got a white person, we

370
00:22:50.759 --> 00:22:53.160
got a black person. Now we got to get a woman.

371
00:22:53.200 --> 00:22:55.200
Oh now we got to get a black woman. And

372
00:22:55.519 --> 00:22:59.039
no matter what the qualifications are, that's not what I'm about.

373
00:22:59.400 --> 00:23:03.640
Equal opportunities helping those at the lower playing field come

374
00:23:03.720 --> 00:23:07.240
up to the upper playing field. When that happens, we

375
00:23:07.359 --> 00:23:09.640
are going to skyrocket. We are going to be in

376
00:23:09.680 --> 00:23:12.920
great shape. All I'm looking for is for my children,

377
00:23:13.039 --> 00:23:18.319
my grandchildren and their children to have a society that

378
00:23:18.440 --> 00:23:22.400
doesn't dissolve and go broke because it got too heavy

379
00:23:22.440 --> 00:23:25.880
in debt and the world wanted us to fall to

380
00:23:26.160 --> 00:23:28.960
number two or number three. They wanted the dollar to

381
00:23:29.039 --> 00:23:31.319
go away. They didn't want us make a decisions. Well,

382
00:23:31.319 --> 00:23:34.960
you see how quickly that has changed. See how quickly

383
00:23:35.400 --> 00:23:39.759
we have now looked like a very powerful country in

384
00:23:39.839 --> 00:23:42.519
the world, and we're not that bad. I don't care

385
00:23:42.599 --> 00:23:45.279
what people say, I don't care what people protests. But

386
00:23:45.400 --> 00:23:49.079
the biggest thing that I love is you now seeing

387
00:23:49.440 --> 00:23:52.000
when the college has said no one can leave these

388
00:23:52.000 --> 00:23:54.440
protests and if you don't have and if you don't

389
00:23:54.480 --> 00:23:56.799
have a student ID, you got to stay here and

390
00:23:56.839 --> 00:23:59.480
we're arresting you. Now you're seeing how many people go

391
00:23:59.559 --> 00:24:02.720
to these oh tests. They're not even college students. They're

392
00:24:02.799 --> 00:24:06.440
just stir it up, stir it up. Where's that money

393
00:24:06.480 --> 00:24:09.960
coming from? And lastly, are we ever gonna find out

394
00:24:09.960 --> 00:24:12.480
who ran the country for four years? I do not

395
00:24:12.640 --> 00:24:16.279
understand why the Republicans don't open up and stop finding

396
00:24:16.279 --> 00:24:19.759
out and put a special counsel together like they did

397
00:24:19.799 --> 00:24:22.559
with everything else, and honestly bring these people to the

398
00:24:22.599 --> 00:24:27.119
table and find out why and who was doing what

399
00:24:27.279 --> 00:24:30.759
they were doing when they did it. We'll be back

400
00:24:31.240 --> 00:24:34.240
the markets in good shape. Be careful. This is the

401
00:24:34.240 --> 00:24:41.400
Money Matter Show. Thank you for listening. Welcome back everybody

402
00:24:41.400 --> 00:24:43.920
to the Money Matter Show. I got Dave Sherwood, I

403
00:24:43.960 --> 00:24:47.799
got Sebastian and Todd and myself here to bring you

404
00:24:48.519 --> 00:24:50.519
another hour and a half of The Money Matter Show.

405
00:24:51.640 --> 00:24:52.440
Good morning boys.

406
00:24:54.039 --> 00:24:56.839
The explosion on Monday right last weekend. We talked on

407
00:24:56.880 --> 00:25:00.720
the show last weekend about the trade talks and hoping

408
00:25:00.759 --> 00:25:03.720
that something positive could come out. We didn't dream that

409
00:25:03.759 --> 00:25:06.519
it would be as positive as it was, did we.

410
00:25:06.519 --> 00:25:09.359
Well, this is how positive it was. My ex wife

411
00:25:10.079 --> 00:25:16.319
text me, who's right now doing a a thing with

412
00:25:16.440 --> 00:25:20.039
the idf O in Israel? Okay, just as a volunteer.

413
00:25:20.880 --> 00:25:23.119
Text me and goes, I can't believe you were so right,

414
00:25:23.359 --> 00:25:25.000
I said, what do you mean? You told me that

415
00:25:25.599 --> 00:25:27.039
they were going to make a deal with China and

416
00:25:27.079 --> 00:25:29.720
the markets would go up, and you stopped me from selling.

417
00:25:29.839 --> 00:25:31.559
Thank you. And by the way, she doesn't have an

418
00:25:31.559 --> 00:25:34.720
account with us. I'm just yes, she uses me still.

419
00:25:35.599 --> 00:25:36.279
We kept it.

420
00:25:36.359 --> 00:25:39.200
But but for her to go ahead and text me that,

421
00:25:39.559 --> 00:25:41.759
and you know that that was something that people didn't

422
00:25:41.799 --> 00:25:43.359
know what was gonna thought that was going to happen.

423
00:25:43.480 --> 00:25:46.279
Well, I understand that thirty days ago the market the

424
00:25:46.440 --> 00:25:49.519
twenty percent lower, didn't You wondered if the guy even

425
00:25:49.559 --> 00:25:51.680
know what he was talking about. Those of us that

426
00:25:51.839 --> 00:25:56.039
kind of can see a big picture believe that this

427
00:25:56.200 --> 00:25:59.799
was the right track. And sure enough it turned out.

428
00:25:59.839 --> 00:26:02.640
You know, has been amazing. He's got so much criticism

429
00:26:03.160 --> 00:26:07.160
about these tariffs and they have worked so well that

430
00:26:07.279 --> 00:26:10.720
even the pope was made in America. Well, I mean,

431
00:26:10.759 --> 00:26:11.039
come on.

432
00:26:13.880 --> 00:26:18.079
A week, you know, no iPhones.

433
00:26:20.240 --> 00:26:22.880
Listen, you know, that's why I send JD. Vance over there. Yeah,

434
00:26:23.079 --> 00:26:25.519
just to make sure he died on Easter and that

435
00:26:25.680 --> 00:26:26.920
we'll get to American America.

436
00:26:26.960 --> 00:26:28.039
Make sure you getting American pope.

437
00:26:28.079 --> 00:26:29.119
Yees what they're saying, right.

438
00:26:29.279 --> 00:26:32.240
Yeah. It was funny because when they first started off,

439
00:26:32.279 --> 00:26:34.480
by the way, that's that's not what we believe it is.

440
00:26:34.519 --> 00:26:36.160
But when they first started off this, well maybe the

441
00:26:36.359 --> 00:26:39.119
because the Pope has been kind of uh anti Trump,

442
00:26:39.160 --> 00:26:42.480
anti Vance, and then well maybe that maybe they selected

443
00:26:42.480 --> 00:26:45.519
the pope to help offset Trump. And I think I

444
00:26:45.519 --> 00:26:47.000
don't know if it was it was the left that

445
00:26:47.079 --> 00:26:49.359
was saying that, and so Trump's now running with that

446
00:26:49.440 --> 00:26:54.359
and saying that he's responsible for the first American why

447
00:26:54.440 --> 00:26:57.079
not if they're going to say, well, they probably picked

448
00:26:57.119 --> 00:27:00.880
him because offset you Okay, then I'm respond, you know.

449
00:27:00.920 --> 00:27:03.480
And then we talked about the first hundred days. The

450
00:27:03.519 --> 00:27:06.119
press was all over this, the first hundred days of

451
00:27:06.160 --> 00:27:10.640
its administration being the worst, sense Nixon. The marketing performance

452
00:27:10.720 --> 00:27:12.160
was the worst, sense ni than.

453
00:27:12.119 --> 00:27:15.000
Oh, the market perform performance was the worst, sense.

454
00:27:14.880 --> 00:27:17.960
Nixan And the last thirty days have been maybe the

455
00:27:18.000 --> 00:27:18.960
best in history.

456
00:27:19.880 --> 00:27:22.519
What we said, twenty three percent off the lows, twenty.

457
00:27:22.279 --> 00:27:25.799
Three percent off of the low he had just what

458
00:27:25.880 --> 00:27:26.559
five weeks ago?

459
00:27:26.759 --> 00:27:29.920
Five weeks ago, early April, everyone seemed to be dire

460
00:27:29.920 --> 00:27:32.599
about the economy. The question is, though we did get

461
00:27:32.640 --> 00:27:36.720
a negative quarter GDP, we seemingly all believe we would

462
00:27:36.759 --> 00:27:39.920
get a negative quarter as well in Q two, Right,

463
00:27:40.039 --> 00:27:42.920
So does that technically mean we're in recession? And does

464
00:27:43.000 --> 00:27:46.039
these trade deals, which most of them are still trade pauses.

465
00:27:46.119 --> 00:27:48.359
There's not as many trade deals as kind of the

466
00:27:48.400 --> 00:27:50.880
market seems to want to believe there is. We have

467
00:27:51.039 --> 00:27:53.839
UK and US. The China deal wasn't a deal, it

468
00:27:53.880 --> 00:27:55.799
was a pause. They're still trying to work out a deal.

469
00:27:56.200 --> 00:27:58.720
Other than the UK US deal. I don't know if

470
00:27:58.759 --> 00:28:02.000
there's a major country has actually made another deal.

471
00:28:02.599 --> 00:28:04.640
No, I don't think so either. But I think the

472
00:28:06.079 --> 00:28:10.920
pause of the tariffs with China takes recession off the table.

473
00:28:11.680 --> 00:28:14.279
Well, then why did we get a negative quarter one?

474
00:28:15.079 --> 00:28:17.000
Negative? We did get a negative Q one and if

475
00:28:17.039 --> 00:28:20.440
you saw on Friday the Atlanta Fed is now projecting

476
00:28:20.559 --> 00:28:23.119
Q two will be positive two and a half percent,

477
00:28:24.000 --> 00:28:25.920
it's a long way from positive two and a half

478
00:28:25.920 --> 00:28:29.039
percent to negative. To me, we need two negative quarters

479
00:28:29.079 --> 00:28:30.680
consecutively for a recession.

480
00:28:30.680 --> 00:28:33.319
Well, let's think about this. We did not have tariffs

481
00:28:33.359 --> 00:28:35.920
in quarter one, Nope, they weren't set till Ampil second.

482
00:28:36.599 --> 00:28:39.039
So why were we having a negative GDP in quarter one?

483
00:28:39.039 --> 00:28:45.440
Then? Just a general slowdown? I think concern about tariff's coming. Sometimes,

484
00:28:45.480 --> 00:28:47.759
you know, the concern about what's coming is worse than

485
00:28:47.799 --> 00:28:48.359
what comes.

486
00:28:48.880 --> 00:28:51.519
And now that we've had already half of this quarter

487
00:28:51.640 --> 00:28:53.559
with that same type of fear, we saw where the

488
00:28:53.559 --> 00:28:54.200
markets were.

489
00:28:54.559 --> 00:28:56.759
And also, I've got to tell you though, in full disclosure,

490
00:28:56.799 --> 00:28:59.839
I'm feeling a little pressure today because I found out

491
00:29:00.039 --> 00:29:03.680
last week that our client, al who's been with us

492
00:29:03.720 --> 00:29:06.039
for a long time, and he's been a listener for

493
00:29:06.079 --> 00:29:09.200
a long time. Al. Every Sunday morning, Al gets in

494
00:29:09.200 --> 00:29:12.119
his pickup truck and he drives to the gym. But

495
00:29:12.240 --> 00:29:15.119
before he gets out of his pickup truck at eight am,

496
00:29:15.599 --> 00:29:16.799
he sits and listens to.

497
00:29:16.759 --> 00:29:18.039
Our show for two hours.

498
00:29:18.039 --> 00:29:20.319
For two hours, and then he goes in the gym.

499
00:29:20.400 --> 00:29:22.839
So I am really feeling a lot of pressure, Al,

500
00:29:23.559 --> 00:29:27.359
to make this worth your while. So can you help

501
00:29:27.359 --> 00:29:27.599
me with that?

502
00:29:27.720 --> 00:29:30.400
Todd, Well, you kind of got I don't even know

503
00:29:30.440 --> 00:29:32.200
what you're talking about. I'm just thinking of a guy

504
00:29:32.519 --> 00:29:35.119
sitting to us for two hours. I appreciate the support.

505
00:29:35.559 --> 00:29:37.119
We appreciate, Al, we do.

506
00:29:37.160 --> 00:29:38.400
I appreciate Al big Al.

507
00:29:39.200 --> 00:29:42.160
It's nice of him to say. You know, so many

508
00:29:42.160 --> 00:29:45.119
people over the last month or so have wondered if

509
00:29:45.160 --> 00:29:49.759
Trump knew what he was doing, and it appears now

510
00:29:49.839 --> 00:29:54.680
that there is a growing consensus that he probably does.

511
00:29:54.720 --> 00:29:56.839
And I think the thing that I've thought through this

512
00:29:57.039 --> 00:30:03.079
entire thing, Dean, is thankfully someone is trying to do something.

513
00:30:04.119 --> 00:30:06.519
I mean, this ship is headed to an iceberg at

514
00:30:06.519 --> 00:30:11.640
fifty knots. It's thankfully someone is trying to do something.

515
00:30:11.720 --> 00:30:14.759
But from day one we spoke about it, and I

516
00:30:14.839 --> 00:30:18.039
told you that what he's going to do, what is happening,

517
00:30:18.079 --> 00:30:21.319
and what he's trying to do is great. He's trying

518
00:30:21.319 --> 00:30:22.920
to get us out of debt. He's trying to make

519
00:30:23.400 --> 00:30:26.200
our generations to come not have to take on what's

520
00:30:26.240 --> 00:30:28.039
going on now, because someone's going to have to handle

521
00:30:28.039 --> 00:30:30.680
it at sometime. And maybe this is why he got

522
00:30:30.720 --> 00:30:32.519
He lost, He came back and he only has four

523
00:30:32.599 --> 00:30:35.960
years and he doesn't have to run again. Why so,

524
00:30:36.400 --> 00:30:38.279
And he's strong enough to take it on. But the

525
00:30:38.400 --> 00:30:44.559
people he has around him beset. The Treasury secretary. It's

526
00:30:44.599 --> 00:30:48.680
so smart when it comes to money, currency, the way

527
00:30:48.720 --> 00:30:53.880
it works globally. He ran huge headphones. He knows exactly

528
00:30:54.000 --> 00:30:59.279
the correlations with everything that's happening beyond most people's imaginations. Okay,

529
00:31:00.079 --> 00:31:03.400
and people just say it, but this is how you know,

530
00:31:03.440 --> 00:31:06.200
they don't know what the hell they're talking about. As

531
00:31:06.240 --> 00:31:08.440
soon as it's going down, they're jumping all over Trump

532
00:31:08.440 --> 00:31:10.480
and that he's an idiot and he's losing all your money.

533
00:31:10.519 --> 00:31:13.720
Now it's up. Nobody wants to say anything. They never

534
00:31:13.759 --> 00:31:16.279
They just want to come up with stuff and not

535
00:31:16.440 --> 00:31:20.440
tell the truth. He said to us there was going

536
00:31:20.519 --> 00:31:22.559
to be some bumps in the road. I don't think

537
00:31:22.599 --> 00:31:24.359
he thought it was going to be this short lived.

538
00:31:25.039 --> 00:31:27.440
I still think there can be some bumps in the road.

539
00:31:27.759 --> 00:31:29.039
Okay, got done, We're not done.

540
00:31:29.039 --> 00:31:31.680
Okay, there's going to be some things. Like Todd said,

541
00:31:32.680 --> 00:31:37.200
the deals are in ink, but there's discussions. You have

542
00:31:37.279 --> 00:31:40.240
to start someplace. You don't one day say the war

543
00:31:40.359 --> 00:31:44.039
is over. You get a cease fire a couple of

544
00:31:44.079 --> 00:31:46.920
times until you finally do it. It's like being married

545
00:31:47.039 --> 00:31:49.680
before you get divorced. You just don't sit awake up

546
00:31:49.720 --> 00:31:51.759
one day and say I'm divorced. Well, maybe some people do,

547
00:31:51.880 --> 00:31:55.519
most people don't. It's years of battling back and forth,

548
00:31:55.559 --> 00:31:57.319
should we get divorce, should we get a divorced? Should

549
00:31:57.319 --> 00:31:59.720
we get a divorce? Until finally you say this ain't

550
00:31:59.720 --> 00:32:03.839
work it and they get divorced okay, or this is

551
00:32:04.000 --> 00:32:08.759
working and they stay together. It's a series of lengths

552
00:32:08.759 --> 00:32:11.599
of time, and nobody wants to ever look past what

553
00:32:11.640 --> 00:32:14.759
they see in front of them on that damn social

554
00:32:14.839 --> 00:32:19.039
media bull crap. Okay, that feeds their minds of whatever

555
00:32:19.079 --> 00:32:19.680
they want to know.

556
00:32:20.240 --> 00:32:23.400
Well, and I all, we all know that the bad

557
00:32:23.440 --> 00:32:26.920
news sells papers, right, So you turn on the station

558
00:32:27.000 --> 00:32:29.880
and into everything in the world is good. We got

559
00:32:29.880 --> 00:32:32.279
the border secured. Men aren't going to be in women's

560
00:32:32.279 --> 00:32:35.000
sports anymore. One of the reasons trade trade.

561
00:32:34.720 --> 00:32:37.880
Timeout we put down back to the astronauts. We forgot

562
00:32:37.920 --> 00:32:41.160
all about that. Yeah, they hate money, they love us

563
00:32:41.200 --> 00:32:43.559
now they hate must the cause that they said, we're

564
00:32:43.640 --> 00:32:45.480
going to make a man date. Everybody has to have

565
00:32:45.519 --> 00:32:48.559
an electric car. Let's blow up the elect all the teslas.

566
00:32:48.720 --> 00:32:52.319
Uh, yeah, absolutely.

567
00:32:51.799 --> 00:32:54.200
Let's go vandalize them. Yeah, it's ridiculous.

568
00:32:54.240 --> 00:32:56.680
You know what I'm saying. They don't. It makes no sense.

569
00:32:56.759 --> 00:32:59.440
They make no sense to me. And that's what I think.

570
00:32:59.519 --> 00:33:01.640
I'm gives me more when I when I talk to

571
00:33:01.680 --> 00:33:04.720
people that tried to make their argument, it doesn't make sense.

572
00:33:04.759 --> 00:33:07.559
Give me a sensible argument. The other day, I'm talking

573
00:33:07.559 --> 00:33:09.559
to someone that is so far it's still on the left,

574
00:33:10.119 --> 00:33:12.960
and she comes up with, you know what I think.

575
00:33:13.880 --> 00:33:15.599
I think we're going to have to go ahead and

576
00:33:15.640 --> 00:33:18.480
realize that we have to get a white male in

577
00:33:18.759 --> 00:33:21.880
if we want to win this. Okay, wow, this is

578
00:33:22.000 --> 00:33:25.640
this is different. Not even twenty four hours later, I

579
00:33:25.759 --> 00:33:28.079
see it all over the headlines that that's what they're

580
00:33:28.079 --> 00:33:31.039
talking about. So some sorts that she had made them

581
00:33:31.079 --> 00:33:33.920
realize it's time for a white male, even though they

582
00:33:33.920 --> 00:33:36.160
don't want it. That's the only way the Democrats a

583
00:33:36.240 --> 00:33:39.039
young white male that can come back and win. I'm like,

584
00:33:39.440 --> 00:33:43.000
you don't come up with any of your own information,

585
00:33:43.400 --> 00:33:48.240
your own common sense. You just you're just regurgitating whatever

586
00:33:48.279 --> 00:33:51.200
you're fed. And that's the real problem. Yeah, you know

587
00:33:51.319 --> 00:33:53.160
you've said before, come up with a plan.

588
00:33:53.599 --> 00:33:57.400
Yeah, don't just say everything that's wrong with or are

589
00:33:57.440 --> 00:34:01.079
perceived to be wrong with Trump's plan. Come up with

590
00:34:01.160 --> 00:34:03.960
your own plan. Obviously, some of the things Trump is

591
00:34:04.079 --> 00:34:05.799
doing are working.

592
00:34:05.680 --> 00:34:07.960
And someone might not work. I get that. We all

593
00:34:08.000 --> 00:34:10.639
know that some things he says are stupid and horrible.

594
00:34:10.679 --> 00:34:12.920
We don't like it. Other things they do were great.

595
00:34:13.239 --> 00:34:15.519
But at least we were honest about what side of

596
00:34:15.559 --> 00:34:18.400
the whole thing is. Take it all away. I'm all

597
00:34:18.400 --> 00:34:21.000
about the economy. Because you have a strong economy, you

598
00:34:21.039 --> 00:34:23.639
have a strong country, You have able to help others.

599
00:34:24.199 --> 00:34:26.559
But when we're just giving away and giving away and

600
00:34:26.599 --> 00:34:30.920
taking from ourselves, we don't have a strong country. Well,

601
00:34:31.000 --> 00:34:33.599
I can't believe in six months now five months, become

602
00:34:33.679 --> 00:34:36.199
such a strong country again. People are listening to it.

603
00:34:36.280 --> 00:34:37.960
I want to deal with us globally.

604
00:34:38.079 --> 00:34:40.519
Yes, yeah, absolutely, which is great for us.

605
00:34:40.679 --> 00:34:42.320
Now we can go back and do the things we

606
00:34:42.360 --> 00:34:46.800
want to do. The markets will do well. Right your

607
00:34:46.880 --> 00:34:49.079
four on ande K plan, which they were complaining about

608
00:34:49.119 --> 00:34:51.880
all the time. I hope you didn't sell. I hope

609
00:34:51.880 --> 00:34:54.159
you didn't listen to the bozos, and I hope you

610
00:34:54.239 --> 00:34:56.920
stayed in and I hope you bought more.

611
00:34:56.440 --> 00:34:59.519
We met with a number of clients during the down

612
00:34:59.599 --> 00:35:04.159
twing lasted about a month, right, and reassured people that

613
00:35:04.679 --> 00:35:07.719
every market decline is an opportunity to buy. Every market

614
00:35:07.760 --> 00:35:11.119
decline is has been followed by a new all time high.

615
00:35:11.920 --> 00:35:14.000
And we've put a little insurance on for a couple

616
00:35:14.039 --> 00:35:16.360
of people that were nervous. Yeah, and that's fine. You know,

617
00:35:16.639 --> 00:35:18.360
whatever it takes to get you to sleep.

618
00:35:18.360 --> 00:35:20.639
And we also got all the mitigating risks is stuff

619
00:35:20.639 --> 00:35:22.960
that we had on we took off down there, right okay,

620
00:35:23.119 --> 00:35:24.519
right now we're looking to see if we put it

621
00:35:24.559 --> 00:35:27.559
back on again. You don't lose, you don't win, you

622
00:35:27.559 --> 00:35:29.920
don't make money. When you're just mitigating whisks. You still

623
00:35:29.920 --> 00:35:31.280
lose it, but not as much.

624
00:35:31.440 --> 00:35:33.920
Right on this last sound turn, I kind of feel

625
00:35:34.000 --> 00:35:36.159
like we educate our clients enough to the to the

626
00:35:36.199 --> 00:35:39.519
point that I had a lot of calls from clients saying, hey,

627
00:35:39.519 --> 00:35:40.920
why don't we buy some more right here?

628
00:35:41.079 --> 00:35:45.320
Yeah, that's what they hed, right, That's that's the way

629
00:35:45.360 --> 00:35:47.039
a bunch of our clients are, or they don't call

630
00:35:47.119 --> 00:35:48.239
us because they know that's.

631
00:35:48.079 --> 00:35:49.559
What we're going to do to the financial plan.

632
00:35:49.679 --> 00:35:51.280
Then all right, we got to wrap this one up.

633
00:35:51.320 --> 00:35:53.800
We got another little break here. We'll be back for

634
00:35:54.400 --> 00:35:57.360
our next segment before the bottom of the top of

635
00:35:57.400 --> 00:35:59.760
the hour is the Money Matter Show. We do appreciate

636
00:35:59.800 --> 00:36:03.159
you listening. Welcome back, everybody. This is the Money Body

637
00:36:03.199 --> 00:36:06.599
Show with Dave and Sebastian and Todd and myself.

638
00:36:07.280 --> 00:36:09.239
You know, I want to talk about a stock that

639
00:36:09.400 --> 00:36:11.960
is on a lot of people's minds right now. It

640
00:36:12.119 --> 00:36:16.119
is the worst performing Dow stock of all of them,

641
00:36:16.480 --> 00:36:19.880
obviously United Healthcare, and I wanted to talk about, well,

642
00:36:19.880 --> 00:36:22.760
you're still here, down twenty five percent for the year,

643
00:36:22.840 --> 00:36:26.400
fifty percent off of it is high. It lost another

644
00:36:26.480 --> 00:36:30.119
seventeen percent on Tuesday to the lowest level since the pandemic.

645
00:36:30.480 --> 00:36:34.079
After the CEO stepped down and they suspended their guidance.

646
00:36:35.159 --> 00:36:38.639
A seventy two year old former CEO has taken over.

647
00:36:38.800 --> 00:36:41.599
Then the next day we find out that the company

648
00:36:41.679 --> 00:36:47.199
is under sec investigation for Medicare fraud by the Justice Department.

649
00:36:47.440 --> 00:36:51.480
That sent the stock down another fifteen percent. And we

650
00:36:51.599 --> 00:36:56.519
find out Friday that on Wednesday, after the initial drop,

651
00:36:56.880 --> 00:37:00.559
one of the directors and before the DOJ announcement, one

652
00:37:00.599 --> 00:37:03.599
of the directors bought five hundred thousand dollars with the stock.

653
00:37:04.199 --> 00:37:07.039
Now that's not just pennies, that's five hundred thousand dollars

654
00:37:07.480 --> 00:37:10.199
with the stock, and that caused the stock to bounce

655
00:37:10.320 --> 00:37:12.639
back up on Friday. I think it went from it

656
00:37:12.679 --> 00:37:16.519
was four hundred change a week ago, it dropped down

657
00:37:16.599 --> 00:37:19.119
to I think the lower was around two forty nine.

658
00:37:19.800 --> 00:37:23.559
Closed Friday around close to three hundred, was pushing three hundred.

659
00:37:24.840 --> 00:37:27.480
What do you think? What are your thoughts on Unite Healthcare.

660
00:37:27.840 --> 00:37:33.760
Every time that there's anything that comes across illegally that

661
00:37:33.800 --> 00:37:37.039
does an investigation, I kind of use the bounce to

662
00:37:37.079 --> 00:37:40.559
get out. I used to not I would just stay

663
00:37:40.559 --> 00:37:42.239
in it because all it's got to come back or

664
00:37:42.239 --> 00:37:44.599
add to it and it goes. But anytimes there's a

665
00:37:45.159 --> 00:37:47.039
I mean, this is Medicare for it, so you got

666
00:37:47.039 --> 00:37:49.400
the doj in this one. But you know with the

667
00:37:49.440 --> 00:37:52.920
SEC or something like that, or find new investigations. They

668
00:37:52.960 --> 00:37:55.920
always find something to hold you up. You know when

669
00:37:55.960 --> 00:37:59.880
there's a when there's when there's something that's wrongfully, wrongfully done,

670
00:38:00.119 --> 00:38:02.440
even at the end if it's not, that's what will

671
00:38:02.440 --> 00:38:06.000
bounce the stock, But it becomes dead money for a

672
00:38:06.000 --> 00:38:08.480
while because usually the stock won't do anything until things

673
00:38:08.519 --> 00:38:09.199
get resolved.

674
00:38:09.440 --> 00:38:11.559
And we've seen that with three M went on for

675
00:38:11.599 --> 00:38:14.079
a couple of years before they then became the best

676
00:38:14.079 --> 00:38:17.519
performing dovestock. We saw it with Boyne went on for

677
00:38:17.559 --> 00:38:20.599
a couple of years before that became the best performing dovestock.

678
00:38:21.320 --> 00:38:22.840
Do you think this is another case?

679
00:38:22.920 --> 00:38:26.760
The thing that bothers me about this is medicaid fraud.

680
00:38:26.920 --> 00:38:29.519
For those two words true, we know it's been going

681
00:38:29.559 --> 00:38:35.960
on a lot. It wouldn't I hope, I don't know.

682
00:38:36.280 --> 00:38:38.440
I don't know. You know that a big company like

683
00:38:38.480 --> 00:38:41.719
you and AH that we all count on it isn't

684
00:38:41.800 --> 00:38:45.000
involved in it. And if it was an involvement, it's

685
00:38:45.079 --> 00:38:49.559
just one department that did something and they all they couldn't.

686
00:38:49.639 --> 00:38:52.079
They didn't see it going on, and obviously people get

687
00:38:52.119 --> 00:38:56.760
fired because of that. But medicaid Ford is a big

688
00:38:56.800 --> 00:38:59.639
problem right now. And if it's going on with one company,

689
00:38:59.760 --> 00:39:01.679
is going on with other companies.

690
00:39:01.559 --> 00:39:03.400
And you know, I think my take on it is

691
00:39:03.679 --> 00:39:06.199
there's so much noise around this name that I don't

692
00:39:06.239 --> 00:39:08.599
know that it's investible at this point.

693
00:39:08.840 --> 00:39:09.559
That's what I'm saying.

694
00:39:09.679 --> 00:39:11.880
And tradeable is tradable. You want trade, you know, if

695
00:39:11.920 --> 00:39:14.840
you're a trader, it's kind of fun. Moves around a lot,

696
00:39:15.280 --> 00:39:17.320
but I don't I don't know as an investment, if

697
00:39:17.360 --> 00:39:19.599
it's a smart thing. You know, stock was over six

698
00:39:19.679 --> 00:39:23.239
hundred dollars just now under three hundred dollars, so you think, god,

699
00:39:23.320 --> 00:39:24.519
half price, that's a pretty good deal.

700
00:39:24.639 --> 00:39:26.400
Well, and then people that have it at five six

701
00:39:26.440 --> 00:39:28.400
hundred dollars are saying, oh, I can't get out now.

702
00:39:28.440 --> 00:39:31.239
Should I buy more? Don't buy more? And I'm not

703
00:39:31.239 --> 00:39:34.079
so sure. You don't take your loss here, all right,

704
00:39:34.159 --> 00:39:36.719
and look for some other opportunities of things that they're

705
00:39:36.760 --> 00:39:39.199
starting to talk about. Done. AI is back on the

706
00:39:39.199 --> 00:39:42.280
table again. Okay. We talked about in the video when

707
00:39:42.280 --> 00:39:45.239
it was down to that one O five ten area,

708
00:39:45.519 --> 00:39:48.400
how it's still there out and everybody was negative on it,

709
00:39:48.400 --> 00:39:50.440
didn't want to buy it well, but now look where

710
00:39:50.480 --> 00:39:52.719
it's back to now you know, and then there's other

711
00:39:52.719 --> 00:39:56.239
ones you know that looking at Microsoft. Look how much

712
00:39:56.320 --> 00:39:59.960
Microsoft has come up meta. So I would keep my podage.

713
00:40:00.039 --> 00:40:02.440
So if I sold that and looked for the opportunities,

714
00:40:02.480 --> 00:40:04.880
technology is what going to drive this thing, period.

715
00:40:05.159 --> 00:40:07.440
So if you don't have it, you probably don't buy it.

716
00:40:07.480 --> 00:40:10.199
As an investor, would that be I would? I would

717
00:40:10.199 --> 00:40:10.559
not eat.

718
00:40:10.599 --> 00:40:12.639
I don't think that the timing of the CEO leaving

719
00:40:12.639 --> 00:40:16.679
the day before the fraud investigation comes about bodeswell whatsoever.

720
00:40:16.840 --> 00:40:19.480
It's interesting that the director would have bought five hundred

721
00:40:19.519 --> 00:40:23.320
thousand dollars on the drop after the CEO left, right,

722
00:40:23.480 --> 00:40:25.719
not knowing anything about the dog investor.

723
00:40:25.880 --> 00:40:28.679
So the CEO leaving the day before all the fraud

724
00:40:28.719 --> 00:40:31.679
investigations come about, does that mean THEO, that CEO that

725
00:40:32.000 --> 00:40:35.519
stepped down, he's just done, wipes his hands, clean out

726
00:40:35.519 --> 00:40:35.840
the door.

727
00:40:36.039 --> 00:40:38.599
Never, I mean then it Never. I mean you'd love

728
00:40:38.639 --> 00:40:42.079
to say yeah, but no, they can absolutely if there's

729
00:40:42.320 --> 00:40:45.840
If there's culpability, he'll be brought to the table for sure.

730
00:40:46.320 --> 00:40:49.400
It doesn't matter that you left. But I think the

731
00:40:49.480 --> 00:40:53.480
stock is tradable. My gut is that there's probably going

732
00:40:53.559 --> 00:40:57.079
to be some speculative buying, perhaps a couple of other

733
00:40:57.320 --> 00:41:00.599
directors seeing what's the five hundred thousand dollars are purchased

734
00:41:00.599 --> 00:41:03.119
for the one director did to this doctor's probably a

735
00:41:03.119 --> 00:41:04.920
couple other directors might know.

736
00:41:05.079 --> 00:41:07.639
If the directors are buying it. I would probably be

737
00:41:07.639 --> 00:41:13.079
more inclined to speculate with it because they usually look

738
00:41:13.119 --> 00:41:16.599
at it. Hey, just look at what was that? Was

739
00:41:16.639 --> 00:41:19.880
it Alliance? No, w a L what was that Western Alliance?

740
00:41:19.960 --> 00:41:24.360
Western Alliance? Okay, that got down to four or five dollars?

741
00:41:24.480 --> 00:41:28.079
Right bank, right in Arizona. It was an Arizona bank. Bank,

742
00:41:28.519 --> 00:41:31.400
and all the people we knew that new people around

743
00:41:31.400 --> 00:41:34.400
that bank and stuff that were involved, just kept buying it.

744
00:41:34.960 --> 00:41:37.599
And look what happened. Yeah, but of course we didn't

745
00:41:37.599 --> 00:41:37.880
buy it.

746
00:41:38.239 --> 00:41:40.280
No, And then of course, well, yeah, be care You

747
00:41:40.280 --> 00:41:42.239
gotta be careful when you get information.

748
00:41:42.159 --> 00:41:45.639
The what wasn't information. These are people that believed in

749
00:41:45.679 --> 00:41:48.280
the bank and understood the bank. It's not like there's

750
00:41:48.360 --> 00:41:50.519
anything else they were saying that this was happening, and

751
00:41:50.559 --> 00:41:52.760
this was happening. You may was when all the banks

752
00:41:52.760 --> 00:41:56.000
for I forgot exactly what was going on, and it

753
00:41:56.159 --> 00:41:58.920
wasn't value.

754
00:41:59.599 --> 00:42:02.360
Yeah, and I's so I think it's it's probably. I

755
00:42:02.400 --> 00:42:04.199
think you probably you might get a pop up into

756
00:42:04.239 --> 00:42:05.559
the three fifty area here.

757
00:42:06.679 --> 00:42:08.960
I'd be more inclined to look for a difference company

758
00:42:08.960 --> 00:42:10.440
in the healthcare space if I'm going to go in

759
00:42:10.440 --> 00:42:10.840
that area.

760
00:42:10.840 --> 00:42:13.480
If you don't own it, don't buy it. If you

761
00:42:13.519 --> 00:42:15.360
do own it, maybe look for Strong.

762
00:42:15.719 --> 00:42:17.480
So now we're on that subject, will you buy drugs

763
00:42:17.519 --> 00:42:17.880
right now?

764
00:42:19.000 --> 00:42:20.679
I'd buy Novo Nordisks?

765
00:42:21.519 --> 00:42:24.000
Why killing them?

766
00:42:24.119 --> 00:42:25.320
Companies are getting hammered.

767
00:42:25.559 --> 00:42:29.960
Yeah, because Lily, the the uh what do you call it?

768
00:42:30.000 --> 00:42:32.159
The zep bound, I think there is so much better

769
00:42:32.199 --> 00:42:33.159
than I think.

770
00:42:33.239 --> 00:42:36.199
Ultimately the demand for the semi glue tide shots are.

771
00:42:36.159 --> 00:42:38.280
So they're gonna have to come up with a second

772
00:42:38.320 --> 00:42:40.360
generation to be able to do it because the zeppound

773
00:42:40.880 --> 00:42:43.719
is now making people lose a lot more weight than

774
00:42:43.800 --> 00:42:48.639
the than the There's another one coming out eventually too,

775
00:42:48.760 --> 00:42:51.559
that's been through trials and and and stuff that is

776
00:42:51.599 --> 00:42:55.199
even better where they're saying you don't lose your muscle,

777
00:42:55.559 --> 00:42:56.840
it just goes after the fat.

778
00:42:56.920 --> 00:42:59.199
And that's an el Lily drug. Yeah, I think that

779
00:42:59.199 --> 00:43:01.079
that company benefit. It's a lot more off of the

780
00:43:01.119 --> 00:43:04.480
Alzheimer's as well. They have kind of a too tandem there.

781
00:43:04.599 --> 00:43:07.360
But I don't think. And that's a fabulous drug and

782
00:43:07.480 --> 00:43:09.960
let's hope it's comes, let's hope it's effective. But I

783
00:43:10.000 --> 00:43:13.000
don't think it's just as sexy as the weight loss drug.

784
00:43:14.199 --> 00:43:17.000
No, right, I mean, I don't know, Dave All.

785
00:43:17.719 --> 00:43:20.360
No, it's just hugely important, hugely important.

786
00:43:20.920 --> 00:43:23.159
It's not sexy because it's something you don't want to

787
00:43:23.159 --> 00:43:25.320
deal with, to talk about, but it would be so

788
00:43:25.440 --> 00:43:27.000
well welcome, it's not even fun.

789
00:43:27.000 --> 00:43:28.719
There's a difference. There's a heck of a lot more

790
00:43:28.719 --> 00:43:31.440
people overweight than there are with Alzheimer's.

791
00:43:32.159 --> 00:43:33.000
In your opinion.

792
00:43:33.280 --> 00:43:37.000
Oh oh, you think there's more people, please, that's any one.

793
00:43:37.039 --> 00:43:40.239
Fifty percent of the country is obedes. Yeah, and if

794
00:43:40.280 --> 00:43:42.639
you use the BMI charts, right.

795
00:43:42.559 --> 00:43:44.920
There's definitely more people overweight than the people who.

796
00:43:45.039 --> 00:43:46.400
I mean, that's debatable.

797
00:43:46.440 --> 00:43:49.320
Yeah, No, it's just you guys think anyone's overweight.

798
00:43:49.840 --> 00:43:52.480
We do. I don't think Todd's are you talking about?

799
00:43:52.679 --> 00:43:53.360
That's not true.

800
00:43:53.760 --> 00:43:57.239
Does Todd stands behind the flag pole? I can't see him.

801
00:43:57.559 --> 00:43:58.400
He's not overweight.

802
00:43:59.320 --> 00:43:59.840
Just keep talking.

803
00:44:00.039 --> 00:44:03.920
Don't come up with BMA all right, we didn't invent it.

804
00:44:03.960 --> 00:44:08.079
But I think we talked last week about about Novo

805
00:44:08.159 --> 00:44:11.320
Nordic's with their GOVI and how they had ain't to

806
00:44:11.400 --> 00:44:15.599
deal with CVS to become their primary choice, and and

807
00:44:15.639 --> 00:44:18.280
they ain't to deal with Hymns and Hers, which they

808
00:44:18.280 --> 00:44:21.559
had sued two months ago to stop selling their with GOVI.

809
00:44:21.840 --> 00:44:24.679
Now they've ain't to deal with them to sell with GOVIE,

810
00:44:24.760 --> 00:44:28.000
And we we speculated at that point, is is that

811
00:44:28.079 --> 00:44:30.360
happening because they're having a hard time with demand.

812
00:44:30.440 --> 00:44:35.119
I think Eli Lily at sixty times earnings or or

813
00:44:35.159 --> 00:44:36.840
you have Novo at nineteen.

814
00:44:36.960 --> 00:44:38.599
So it's just, oh, it's not even close.

815
00:44:38.880 --> 00:44:42.239
There's very different on valuation perspective. But Novo, obviously Eli

816
00:44:42.280 --> 00:44:45.000
Lily has the more pretty future.

817
00:44:45.360 --> 00:44:47.840
I think I think Dean has said it weather and

818
00:44:48.320 --> 00:44:53.719
Dean said that the zep bound is simply more effective

819
00:44:53.719 --> 00:44:56.320
in test after test after tests than ozempic.

820
00:44:56.480 --> 00:44:56.679
Yeah.

821
00:44:56.679 --> 00:44:58.519
But if Novo can find a way to get it

822
00:44:58.760 --> 00:45:01.159
to the consumer cheaper or something like hims and Hers,

823
00:45:01.199 --> 00:45:02.639
I think it'll be it'll benefit them.

824
00:45:02.719 --> 00:45:05.159
Yeah, and also the people who just want semi glue types,

825
00:45:05.320 --> 00:45:06.639
if they don't care about having the best win.

826
00:45:08.400 --> 00:45:11.199
If the same price, it goes zupbound instead of yeah.

827
00:45:11.239 --> 00:45:13.760
But I think you're you're onto something there, Sebastian. If

828
00:45:13.760 --> 00:45:15.360
they can get a half priced right, if they could

829
00:45:15.360 --> 00:45:19.320
get a price half weight a certain crowd, right, So

830
00:45:19.400 --> 00:45:21.800
you're doing half price to lose eighty percent as much weight.

831
00:45:22.119 --> 00:45:24.079
About the generics, I mean, the generics couldn't have been

832
00:45:24.119 --> 00:45:26.679
as good as the best semi glue tides out there

833
00:45:26.679 --> 00:45:28.599
when they were allowed to sell them, but people were

834
00:45:28.599 --> 00:45:30.039
willing to get them because they're cheaper, right.

835
00:45:30.159 --> 00:45:32.199
People were hammering the compound pharmacuy.

836
00:45:32.199 --> 00:45:35.000
It was interesting because Trump said he's remembers last weekend.

837
00:45:35.039 --> 00:45:37.440
Trump said he's going to issue an executive order that's

838
00:45:37.519 --> 00:45:40.400
going to bring drug prices down to what the rest

839
00:45:40.400 --> 00:45:43.320
of the world is charging. Turns out he can't do that.

840
00:45:43.559 --> 00:45:44.320
How would he do that?

841
00:45:44.559 --> 00:45:46.559
It has to go through Congress. So, oh, he's going

842
00:45:46.639 --> 00:45:47.599
to do it, but he can't.

843
00:45:47.760 --> 00:45:49.880
Well, I didn't even it was a genuine question. I

844
00:45:49.920 --> 00:45:52.840
just feel like this entire healthcare system is so entrenched

845
00:45:53.639 --> 00:45:56.239
over the last forty years of special lobby groups, and

846
00:45:56.679 --> 00:45:58.960
they did a great job and putting their money into

847
00:45:59.039 --> 00:46:01.880
Congress and getting the as they needed to build the system.

848
00:46:01.920 --> 00:46:04.719
That they have now, because, like you said, not even

849
00:46:04.719 --> 00:46:08.039
the president himself can make the system better. It is

850
00:46:08.079 --> 00:46:08.599
what it is.

851
00:46:08.840 --> 00:46:10.920
Well, Congress better get off the duff and do something.

852
00:46:10.920 --> 00:46:13.039
Oh yeah, because they're going to do that because they

853
00:46:13.039 --> 00:46:15.400
care about the people. We saw they don't even vote

854
00:46:15.519 --> 00:46:17.920
for the what was the senators, I mean it wasn't

855
00:46:17.920 --> 00:46:20.599
the House, but the senators didn't vote for the freaking.

856
00:46:20.400 --> 00:46:25.360
Not one Democratic senator would vote against men and women's sports,

857
00:46:25.719 --> 00:46:26.119
not one.

858
00:46:26.440 --> 00:46:27.519
So they don't care about people.

859
00:46:27.599 --> 00:46:29.840
They don't care about the country. They care about their party.

860
00:46:30.760 --> 00:46:32.679
And I'm not saying so, how are you supposed to

861
00:46:33.199 --> 00:46:37.320
expect them to actually care about people's cost of health care?

862
00:46:37.599 --> 00:46:38.960
I don't see that happening.

863
00:46:39.119 --> 00:46:41.679
They care about making sure that the companies that pay

864
00:46:41.719 --> 00:46:43.960
them pay their campaigns keep getting paid.

865
00:46:44.360 --> 00:46:46.599
And a lot of us are alive and living the

866
00:46:46.639 --> 00:46:49.480
life that we live because of Big Pharma, so thank

867
00:46:49.519 --> 00:46:51.880
you to them. But on the other side of that

868
00:46:52.239 --> 00:46:55.840
comes a lot of power, and they have over the years,

869
00:46:55.920 --> 00:46:56.159
and a.

870
00:46:56.079 --> 00:46:57.719
Lot of people have died earlier though because of Big

871
00:46:57.719 --> 00:47:02.599
Pharma too. Really, yes, Oxy, you can see that. So

872
00:47:02.639 --> 00:47:05.199
it's not all just sunshine and rainbows. That's obvious.

873
00:47:06.320 --> 00:47:08.719
Okay, there's two sides of it. Okay, there's two sides

874
00:47:08.719 --> 00:47:12.639
of it. Obviously, if you're in pain, you want help, okay,

875
00:47:13.280 --> 00:47:14.960
But what you don't want to do is be addicted.

876
00:47:15.360 --> 00:47:18.159
Every medication has some poison, you know, every medication.

877
00:47:18.760 --> 00:47:22.280
Some has more than others well, and also some are

878
00:47:22.280 --> 00:47:24.360
pretty pointless too, like like we found out with the

879
00:47:24.360 --> 00:47:26.639
COVID vaccine, where you're just putting things in your body.

880
00:47:26.679 --> 00:47:27.639
Who knows what it's gonna do.

881
00:47:27.760 --> 00:47:30.239
Oh, it's save some lives too. I mean that the

882
00:47:30.239 --> 00:47:32.480
whole COVID thing. You just don't even know why some

883
00:47:32.480 --> 00:47:35.119
people died and some people didn't, why some people got anothers.

884
00:47:34.920 --> 00:47:36.960
D Why were they requiring a COVID vaccine didn't work?

885
00:47:36.960 --> 00:47:38.440
All right, we got to go to a heart break.

886
00:47:38.480 --> 00:47:40.440
We'll be right back. This is the Money Mighty Show.

887
00:47:40.480 --> 00:47:41.320
Thank you for listening.

888
00:47:42.960 --> 00:47:45.480
Welcome back to the Money Matter Show. My name is Todd. Look,

889
00:47:45.480 --> 00:47:48.800
I'm here with David Sherwood, Dean Greenberg, and Sebastian Borcini.

890
00:47:48.840 --> 00:47:51.119
This week it was a positive one. In fact, we

891
00:47:51.159 --> 00:47:52.719
are now positive for the year. On the S and

892
00:47:52.760 --> 00:47:55.079
P five hundred, the Dow was up three point four percent.

893
00:47:55.280 --> 00:47:57.320
The S and P five hundred was up five point

894
00:47:57.320 --> 00:47:59.239
three percent on the week. The Nasdaq led the way

895
00:47:59.280 --> 00:48:02.280
higher at seven point two percent, Russell two thousand was

896
00:48:02.360 --> 00:48:04.639
up four and a half, and the equal Weight was

897
00:48:04.719 --> 00:48:07.400
up four point three percent. So off the lows the

898
00:48:07.440 --> 00:48:09.800
S and P and now twenty three point two percent

899
00:48:09.840 --> 00:48:13.719
off those only three percent away from an all time high.

900
00:48:14.320 --> 00:48:17.239
It's just absolutely amazing, and I get it. I understand

901
00:48:17.280 --> 00:48:21.239
the rally, but the uh, the intensity of it seems

902
00:48:21.280 --> 00:48:24.199
a little overdone with a lot of the unknown ones

903
00:48:24.239 --> 00:48:26.239
that we don't know. We know we're going to get

904
00:48:27.079 --> 00:48:31.880
higher prices, we know that we're going to have higher

905
00:48:31.880 --> 00:48:35.519
interest rates. I think probably so far we have them.

906
00:48:35.559 --> 00:48:38.079
In the short term. The race has started to move up.

907
00:48:38.480 --> 00:48:42.880
When when they no no, no, no, no, no, no ten years,

908
00:48:43.039 --> 00:48:46.280
the ten years, the two year, and the tenure when

909
00:48:46.480 --> 00:48:48.800
it was interesting because when the news came out on Monday,

910
00:48:49.119 --> 00:48:53.599
it was not only the excitement, and understandably if the

911
00:48:55.079 --> 00:48:57.679
what's been weighed down the market over the last thirty

912
00:48:57.760 --> 00:49:00.519
days has been this concern that China and the US

913
00:49:00.559 --> 00:49:03.800
are going to get into a prolonged trade war and

914
00:49:03.840 --> 00:49:09.559
that's going to create all kinds of supply chain issues, availability, issues,

915
00:49:10.800 --> 00:49:15.159
rising interest rates, inflation, all kinds of craziness. And when

916
00:49:15.760 --> 00:49:18.320
they came out on Monday and said the US and

917
00:49:18.440 --> 00:49:21.840
China had agreed to pause their teriffs for ninety days,

918
00:49:22.679 --> 00:49:24.960
instantly you thought, hey, these guys are going to be

919
00:49:24.960 --> 00:49:26.920
able to make a deal, and if they can make

920
00:49:26.960 --> 00:49:30.199
a deal, then the market probably should be back where

921
00:49:30.239 --> 00:49:34.679
it was before the tariff tantrums started. Not only that,

922
00:49:35.239 --> 00:49:37.000
but now the recession is off the table.

923
00:49:38.199 --> 00:49:38.400
Right.

924
00:49:39.119 --> 00:49:42.440
Yeah, I'm not saying I'm not saying that this doesn't case,

925
00:49:42.719 --> 00:49:45.639
but that's what the market believes. Yeah, I mean, you're

926
00:49:45.639 --> 00:49:47.559
not going to see many weeks with the market S

927
00:49:47.559 --> 00:49:48.639
ANDP going up five percent.

928
00:49:48.960 --> 00:49:50.719
Well, the fact in one week, you don't see many

929
00:49:50.760 --> 00:49:52.880
weeks with S and P goes up every single.

930
00:49:52.639 --> 00:49:55.920
Day, every single day, five consecutive days, five percent, and

931
00:49:56.280 --> 00:50:00.199
that's after an explosion higher on Monday. About what, we.

932
00:50:02.039 --> 00:50:03.039
Didn't give any of it about.

933
00:50:03.039 --> 00:50:04.920
I gave none of it back, and it was no

934
00:50:05.079 --> 00:50:06.960
dep throughout the week. Believe me, I was trying to

935
00:50:07.000 --> 00:50:09.679
short the market and didn't work out for me.

936
00:50:09.719 --> 00:50:11.559
Well, you know what was the leading indicator for this

937
00:50:12.679 --> 00:50:15.880
was bitcoin? Because last week we had bitcoin. He reached

938
00:50:15.920 --> 00:50:18.639
back to its previous well not quite its previous all

939
00:50:18.679 --> 00:50:21.079
time high, but it's also right right there. And they

940
00:50:21.079 --> 00:50:23.400
had a big run up last week. So bitcoin knew

941
00:50:23.440 --> 00:50:27.679
something about the trade deal because by the time Monday

942
00:50:27.719 --> 00:50:29.480
came around, the market caught up.

943
00:50:29.639 --> 00:50:32.440
And then interestingly, this week bitcoin is flat. Didn't do

944
00:50:32.480 --> 00:50:33.280
anything right well.

945
00:50:33.360 --> 00:50:36.000
Last week the market go exploded higher. It was like

946
00:50:36.000 --> 00:50:41.119
the exact opposite. So I there's something really interesting with

947
00:50:42.320 --> 00:50:44.360
how we're going to have these trade deals come to

948
00:50:44.400 --> 00:50:47.960
fruition and whether or not the AI rally plus the

949
00:50:48.000 --> 00:50:51.159
trade deal can get us back even above the all

950
00:50:51.239 --> 00:50:54.639
time high. If you have those two combinations, and you

951
00:50:54.719 --> 00:50:58.920
even have a fed maybe lowering rates or just keeping

952
00:50:58.960 --> 00:51:02.199
them stable over the next year, you could see a

953
00:51:02.239 --> 00:51:04.280
path to sixty six hundred.

954
00:51:04.599 --> 00:51:09.480
Yes, yes, I think. And we all hoped and believed

955
00:51:09.519 --> 00:51:13.599
that Trump becoming president would be good for the market.

956
00:51:13.920 --> 00:51:19.320
A businessman in taking away regulation, helping business to get

957
00:51:19.360 --> 00:51:23.800
more to be more successful, trade deals certainly better for

958
00:51:23.840 --> 00:51:27.400
the country. It all, we all thought that it would

959
00:51:27.440 --> 00:51:30.000
be a good thing. And that's why the market rallied

960
00:51:30.039 --> 00:51:32.199
so much after the election, because they all believe that

961
00:51:32.400 --> 00:51:34.920
Trump being president is good for the market. I agree

962
00:51:34.960 --> 00:51:39.000
with that and I think probably two years, three years

963
00:51:39.000 --> 00:51:42.199
down the road, assuming we don't get another pandemic, the

964
00:51:42.280 --> 00:51:43.880
market could be noticeably higher.

965
00:51:43.960 --> 00:51:47.920
Talking about deregulation and just different spaces to be invested in.

966
00:51:47.920 --> 00:51:49.559
Did you guys see what our friends over the pond

967
00:51:49.559 --> 00:51:52.320
did it this week and their energy bills. No, I

968
00:51:52.320 --> 00:51:54.760
don't really typically pay attention to that either, just so

969
00:51:54.800 --> 00:51:58.559
you do know, Oh really yeah, but Great British Energy

970
00:51:58.559 --> 00:52:01.800
out to twenty twenty five they implemented this. The initial

971
00:52:01.800 --> 00:52:04.719
focus really talks about the offshore wind, hydrogen and solar

972
00:52:04.800 --> 00:52:07.920
power to creates clean energy. But the one thing that

973
00:52:07.960 --> 00:52:09.719
I did want to highlights is it's going to work

974
00:52:09.760 --> 00:52:14.480
alongside the Great British Nuclear Company to support these nuclear projects.

975
00:52:15.199 --> 00:52:19.159
More and more countries are starting to implement this and deregulate,

976
00:52:19.960 --> 00:52:23.559
hopefully opening the door for nuclear space. I think again,

977
00:52:23.880 --> 00:52:25.400
this is a place that you want to be invested

978
00:52:25.400 --> 00:52:27.039
in over the next ten fifteen years.

979
00:52:27.159 --> 00:52:30.000
I love that. I love that that's happening in our world.

980
00:52:30.880 --> 00:52:33.440
After Three Mile Island, I thought I'm going to die

981
00:52:33.519 --> 00:52:35.719
with a nuclear is never going to come back in

982
00:52:35.719 --> 00:52:40.280
my lifetime. And I love that we're embracing nuclear again.

983
00:52:40.360 --> 00:52:45.239
It is without a doubt the way to go. Obviously,

984
00:52:46.480 --> 00:52:50.360
the risk are contained, there are issues. That's not a

985
00:52:50.440 --> 00:52:53.639
free ride, but it is absolutely the way to go,

986
00:52:53.719 --> 00:52:57.679
and I'm thrilled to see that becoming more and more acceptable.

987
00:52:57.800 --> 00:53:00.239
I never thought i'd see the day when that would

988
00:53:00.239 --> 00:53:03.440
see the light of day in the US, and I'm thrilled.

989
00:53:03.800 --> 00:53:06.559
Yeah, it's a really big thing for just the future

990
00:53:06.559 --> 00:53:10.000
of AI to be able to rely on clean, cheap energy.

991
00:53:10.679 --> 00:53:14.119
Eventually we need to keep drilling or we have to

992
00:53:14.119 --> 00:53:17.920
get off the fossil fuel systems. So either we have

993
00:53:18.000 --> 00:53:20.360
to keep the presidents that are actually going to be

994
00:53:20.519 --> 00:53:24.920
pro energy because eventually, if you get away from the oil,

995
00:53:25.199 --> 00:53:27.400
these other countries aren't going to be able to keep

996
00:53:27.559 --> 00:53:31.079
progressing either. So we need additional sources of energy.

997
00:53:31.119 --> 00:53:37.280
It's funny how nuclear once again became acceptable because of

998
00:53:37.400 --> 00:53:43.360
the power required by technology, by new technology, and you

999
00:53:43.360 --> 00:53:45.800
you have a couple of choices, right, you can have

1000
00:53:45.880 --> 00:53:48.159
windmills all over the place that are annoying and kill

1001
00:53:48.199 --> 00:53:51.559
birds and you know, on and on and on. Or

1002
00:53:51.599 --> 00:53:54.039
you can get more coal. Let's do let's get more

1003
00:53:54.039 --> 00:53:57.280
coal fired plants like China. You know, China has got

1004
00:53:57.320 --> 00:54:00.800
like sixty coal fired plants on the on the drawing board,

1005
00:54:01.159 --> 00:54:03.320
and you wonder why we can't get clean air. You

1006
00:54:03.360 --> 00:54:09.800
wonder why there's problems in the atmosphere from pollution. You

1007
00:54:09.840 --> 00:54:12.000
don't have to look any further than China and India.

1008
00:54:12.119 --> 00:54:15.159
I mean, they generated there a third of the world's economy.

1009
00:54:15.159 --> 00:54:18.320
They generate about forty percent of the world's pollution. We

1010
00:54:18.360 --> 00:54:20.599
can be as clean. I don't know, I got off

1011
00:54:20.639 --> 00:54:22.800
on this tangent. We can be as clean as clean

1012
00:54:22.840 --> 00:54:24.239
can be and it isn't going to make a heck

1013
00:54:24.280 --> 00:54:25.039
of a lot of difference.

1014
00:54:25.079 --> 00:54:27.599
Well, plus this, the ideas of some of these policies

1015
00:54:27.599 --> 00:54:30.480
are very just make you feel good, but they don't

1016
00:54:30.480 --> 00:54:34.280
do anything in reality. We know the mining of electric cars,

1017
00:54:34.320 --> 00:54:37.440
how much cost of energy cost to the climate that is,

1018
00:54:37.880 --> 00:54:39.599
they're not going to talk about that. You're not going

1019
00:54:39.639 --> 00:54:42.320
to talk about the fact that majority of the fueling

1020
00:54:42.440 --> 00:54:44.840
is there. There's a host of things like if you

1021
00:54:44.840 --> 00:54:47.360
think about how California though all their wildfires is because

1022
00:54:47.360 --> 00:54:51.440
they don't want to clear off the brush because they're environmentalists.

1023
00:54:51.599 --> 00:54:54.400
You can't take away Well guess what when you don't

1024
00:54:54.400 --> 00:54:56.320
do that, then you have these crazy big fires. So

1025
00:54:56.559 --> 00:54:59.400
you start to see that you can't just make yourself

1026
00:54:59.440 --> 00:55:01.199
feel good on the front end and then have these

1027
00:55:01.239 --> 00:55:03.519
huge problems on the back end. And that's what a

1028
00:55:03.519 --> 00:55:05.400
lot of these policies do. And it just seems like

1029
00:55:05.440 --> 00:55:09.280
anything around along the lines of socialism or communism, that's

1030
00:55:09.320 --> 00:55:10.840
that's what it looks. It feels really good on the

1031
00:55:10.840 --> 00:55:14.360
front end, you get everything cheap, but on the back end,

1032
00:55:14.440 --> 00:55:16.280
on the long run, you're going to be paying for it.

1033
00:55:16.920 --> 00:55:20.760
And it's interesting that it was it's technology that opened

1034
00:55:20.760 --> 00:55:25.320
this door to nuclear because it's become if you have

1035
00:55:25.440 --> 00:55:29.519
to have more power, and that's a given, then the

1036
00:55:29.559 --> 00:55:33.559
most acceptable way hold your nose nuclear right.

1037
00:55:33.760 --> 00:55:36.960
And you know what technology also does is it promotes decentralization.

1038
00:55:37.039 --> 00:55:40.159
And that's what we're seeing as the theme of President

1039
00:55:40.199 --> 00:55:45.840
Trump's administration is decentralization. It's doze Department of government efficiency,

1040
00:55:45.880 --> 00:55:50.559
taking away centralized power and giving it to more decentralized people.

1041
00:55:50.760 --> 00:55:53.280
We realize that the private companies know a lot more

1042
00:55:53.320 --> 00:55:56.800
about their industries than the regulators trying to regulate it.

1043
00:55:56.880 --> 00:55:58.960
They always make mistakes, They always make it a lot

1044
00:55:59.000 --> 00:56:02.239
harder to do better for the end to person, the client.

1045
00:56:02.760 --> 00:56:04.760
The regular is supposed to protect the client, but often

1046
00:56:04.760 --> 00:56:06.199
makes the product for the client at the end of

1047
00:56:06.239 --> 00:56:06.719
the day worse.

1048
00:56:07.239 --> 00:56:09.760
And the founders of this country tried real hard in

1049
00:56:09.840 --> 00:56:13.360
the early going not to make the central government be powerful.

1050
00:56:13.440 --> 00:56:14.440
That's why you had states.

1051
00:56:14.480 --> 00:56:18.239
Were supposed to be states' rights, right, that was the

1052
00:56:18.280 --> 00:56:21.239
whole idea behind this country. And over the years just

1053
00:56:21.320 --> 00:56:22.599
kind of morphed away from that.

1054
00:56:22.840 --> 00:56:25.320
Yeah, you got the federal government getting more and more power,

1055
00:56:26.000 --> 00:56:29.119
and that's the danger again. Everyone, well not everyone. Some

1056
00:56:29.199 --> 00:56:31.559
of the people will talk really badly about Trump's decision

1057
00:56:31.559 --> 00:56:33.480
on abortion, but giving it back to the states is

1058
00:56:33.480 --> 00:56:36.599
the original founding father's opinion. You can vote with your feet.

1059
00:56:36.639 --> 00:56:38.639
You can go to a different state if you so desired.

1060
00:56:39.000 --> 00:56:41.119
The economically in a client may not be able to

1061
00:56:41.119 --> 00:56:44.400
and that's unfortunate. But on the masses, people are allowed

1062
00:56:44.440 --> 00:56:46.519
to just go over to the next line and pick

1063
00:56:46.559 --> 00:56:48.880
one that they want, or vote for one that vote

1064
00:56:48.920 --> 00:56:51.079
for the changes they want. If enough people agree, they

1065
00:56:51.119 --> 00:56:53.239
will change. You don't agree with the people in your state,

1066
00:56:53.320 --> 00:56:55.840
go to a different one. But that gives you the

1067
00:56:55.880 --> 00:56:59.920
ability to be decentralized and have the best outcome per region.

1068
00:57:00.280 --> 00:57:02.599
You know, sometimes you're going to make different decisions in

1069
00:57:02.639 --> 00:57:04.119
the south, and you are going to make in the

1070
00:57:04.159 --> 00:57:06.519
north or the west to the east, and so having

1071
00:57:06.599 --> 00:57:10.519
a big, national wide policy has really impeded us from

1072
00:57:10.599 --> 00:57:12.280
the growth we could have made if it was more

1073
00:57:12.679 --> 00:57:13.760
regional specific.

1074
00:57:13.840 --> 00:57:16.320
I agree. I agree. Let's look at a couple of

1075
00:57:16.360 --> 00:57:18.559
things that the market. Oil was up a dollar this week,

1076
00:57:18.599 --> 00:57:22.920
got to sixty two forty gold. Here's the interesting part.

1077
00:57:24.119 --> 00:57:26.760
Over the last two weeks, I have seen a flood

1078
00:57:27.039 --> 00:57:29.559
of advertisements for gold.

1079
00:57:29.400 --> 00:57:30.320
Advertisements.

1080
00:57:30.440 --> 00:57:34.719
Yeah, as you want, people trying to sell you their

1081
00:57:34.800 --> 00:57:37.920
gold because it's the greatest place to have your money.

1082
00:57:38.159 --> 00:57:40.199
Which makes me wonder if it's the greatest place to

1083
00:57:40.199 --> 00:57:41.920
have your money, why do they want to sell.

1084
00:57:41.679 --> 00:57:44.239
Me their Is it thirty thousand? We're going to thirty thousand?

1085
00:57:44.320 --> 00:57:47.840
Days to go to gold. Yeah, gold's going to thirty thousand,

1086
00:57:47.880 --> 00:57:48.440
that's what I heard.

1087
00:57:49.000 --> 00:57:52.320
That's certainly possible, but down to another one hundred and

1088
00:57:52.320 --> 00:57:56.280
forty dollars to thirty one to ninety, now about ten

1089
00:57:56.360 --> 00:58:00.800
percent off of its high hit about three weeks ago. Now,

1090
00:58:00.840 --> 00:58:03.480
I don't know where it's going. We didn't know why

1091
00:58:03.519 --> 00:58:04.239
it was up there.

1092
00:58:04.280 --> 00:58:06.400
Well, I mean, I think we do have an idea

1093
00:58:06.440 --> 00:58:09.079
that it's been central banks, and we've gotten somewhat of

1094
00:58:09.119 --> 00:58:12.400
a confirmation that's that China's been buying a lot under

1095
00:58:12.440 --> 00:58:14.440
the radar, not reporting it.

1096
00:58:14.599 --> 00:58:15.440
They're buying a lot.

1097
00:58:15.480 --> 00:58:17.400
The central banks around the world are buying a lot

1098
00:58:17.440 --> 00:58:18.039
of gold.

1099
00:58:18.400 --> 00:58:21.440
There seems to be no other explanation that makes any

1100
00:58:21.480 --> 00:58:22.159
sense to.

1101
00:58:22.079 --> 00:58:25.119
Me, though, I don't think there's any way this is

1102
00:58:25.159 --> 00:58:26.039
too much gold being bought.

1103
00:58:26.119 --> 00:58:28.159
But then you wonder, how does the drop ten percent?

1104
00:58:28.320 --> 00:58:30.079
Do they all of a sudden do they take a

1105
00:58:30.119 --> 00:58:32.079
pause and say, let's let it come back to us

1106
00:58:31.960 --> 00:58:33.800
a deal away they go again?

1107
00:58:33.920 --> 00:58:36.400
I mean, was it the pause from I mean China

1108
00:58:36.760 --> 00:58:38.639
did pause this week? I mean, this is the biggest

1109
00:58:38.639 --> 00:58:42.280
weekly drop in gold that we've seen. Yes, really since Yes,

1110
00:58:42.880 --> 00:58:45.599
all of this so potentially is that who knows? I mean,

1111
00:58:45.639 --> 00:58:47.920
there's obviously at some point a sellof that had to

1112
00:58:47.960 --> 00:58:49.519
occur in goal. Do you look at that chart? It

1113
00:58:49.559 --> 00:58:51.920
was parabolic. You don't have things grow to the sky.

1114
00:58:52.400 --> 00:58:54.159
On the show last week, we were talking about the

1115
00:58:54.239 --> 00:58:57.280
CPI that was released this past weekend. We were concerned

1116
00:58:57.320 --> 00:59:00.960
about what the tariffs, if in anything, have done to

1117
00:59:01.000 --> 00:59:04.599
the CPI, and we wondered if the drop in oil

1118
00:59:04.719 --> 00:59:07.880
and the drop in shelter, which of course there's houses

1119
00:59:07.920 --> 00:59:13.039
and rant apartments, would offset any increases from the tariffs.

1120
00:59:13.159 --> 00:59:16.360
Sure enough, we got CPI at two point three percent

1121
00:59:16.400 --> 00:59:20.960
for April, which was the lowest in four years. There's

1122
00:59:21.000 --> 00:59:24.400
been no impact from the tarioft shit on that. Amazon

1123
00:59:24.559 --> 00:59:26.920
says they've seen no price increases.

1124
00:59:27.000 --> 00:59:30.079
Well, you've had a fear decrease in the overall marketplace

1125
00:59:30.159 --> 00:59:32.519
the vics. The volatility on the S and P five

1126
00:59:32.639 --> 00:59:35.360
hundred had been up to almost around the sixty. That's

1127
00:59:35.400 --> 00:59:38.119
back down to seventeen, below the twenty. Once you get

1128
00:59:38.119 --> 00:59:41.159
below fifteen, that's pretty much normal market behavior at that point.

1129
00:59:41.280 --> 00:59:46.599
So we've had a re set in the volatility, which

1130
00:59:46.639 --> 00:59:48.760
is the ups and downs in the market. We've seen

1131
00:59:48.800 --> 00:59:52.280
gold come down, which is kind of also a fear play.

1132
00:59:52.360 --> 00:59:54.079
As that comes down, you would have figured that the

1133
00:59:54.079 --> 00:59:56.840
fear is kind of sizzling out in the market because

1134
00:59:56.880 --> 01:00:00.760
people want to take those assets to more speculation of places.

1135
01:00:01.039 --> 01:00:03.119
With the VIX being in at seventeen and not being

1136
01:00:03.119 --> 01:00:07.400
in that typical market environment's normal market environments under fifteen.

1137
01:00:07.480 --> 01:00:10.079
Like you're saying, don't be surprised if you see a

1138
01:00:10.159 --> 01:00:12.960
jump from seventeen to twenty two. Right, that could happen

1139
01:00:12.960 --> 01:00:14.440
pretty easily. We could see a little bit of a

1140
01:00:14.480 --> 01:00:15.079
sell off here.

1141
01:00:15.599 --> 01:00:17.679
And now, what are you talking about seventeen to twenty two?

1142
01:00:17.800 --> 01:00:18.440
What in the vix?

1143
01:00:18.599 --> 01:00:21.119
Yeah, but you can't buy that anyway, so it doesn't matter. No,

1144
01:00:21.199 --> 01:00:24.920
But it's just an indicator. And right now the indicator

1145
01:00:25.039 --> 01:00:29.599
is be long or be wrong, right, belong to market?

1146
01:00:29.760 --> 01:00:32.639
Be wrong, I think probably.

1147
01:00:32.199 --> 01:00:34.199
But I want to go back to that just because

1148
01:00:34.360 --> 01:00:36.679
you say that you can't buy the bix. But yes,

1149
01:00:36.760 --> 01:00:39.119
it is an indicator. So if you see the vix

1150
01:00:39.159 --> 01:00:43.000
ever again at above sixty, that's an indicating you that

1151
01:00:43.079 --> 01:00:43.920
you should buy.

1152
01:00:43.920 --> 01:00:47.320
Yes, yes, And if you see it down around seventeen,

1153
01:00:47.360 --> 01:00:51.480
it's an indicator that they're probably a dip coming. Correct,

1154
01:00:51.519 --> 01:00:53.719
there's probably a dip cooming. And I think that's probably

1155
01:00:53.719 --> 01:00:56.519
the biggest thing that the market is vulnerable to right now.

1156
01:00:56.559 --> 01:00:59.719
Because the news backdrop is pretty good, it's hard to

1157
01:00:59.760 --> 01:01:03.840
find something that in the news backdrop that's concerning. You

1158
01:01:03.880 --> 01:01:06.440
could talk about, well, prices are gonna be higher because

1159
01:01:06.440 --> 01:01:09.199
of the tariffs, Okay, I get that. Does that mean

1160
01:01:09.239 --> 01:01:12.159
inflation is going to be higher? Well, if oil and

1161
01:01:12.199 --> 01:01:14.039
housing don't start to pick up steam.

1162
01:01:14.159 --> 01:01:16.119
Probably not all I can tell you like the bad news.

1163
01:01:16.159 --> 01:01:19.039
So think about India for example. They were talking about

1164
01:01:19.039 --> 01:01:21.360
how they're going to make an agreements to zero percent

1165
01:01:21.400 --> 01:01:24.480
tariffs each way. What happens when they say, you know what,

1166
01:01:24.519 --> 01:01:27.880
we're actually gonna go ten percent. That's the bad news.

1167
01:01:28.159 --> 01:01:30.880
Well, again, none of these agreements are ink. But how

1168
01:01:30.920 --> 01:01:33.119
would I mean when you say it's bad news? I

1169
01:01:33.880 --> 01:01:36.840
guess I'm thinking in terms of the overall market. What

1170
01:01:36.960 --> 01:01:41.519
could possibly I shouldn't say possibly.

1171
01:01:41.639 --> 01:01:42.320
It's very easy.

1172
01:01:42.360 --> 01:01:45.400
You have one weekend where it says that President Trump

1173
01:01:45.800 --> 01:01:49.159
made g mad, he didn't say the right thing. Trade

1174
01:01:49.199 --> 01:01:52.039
talks went falled apart. Yep, you have all of a sudden.

1175
01:01:52.079 --> 01:01:55.079
I mean, I don't think the war in Ukraine's gonna

1176
01:01:56.239 --> 01:01:58.400
make too much of a difference in our markets. But

1177
01:01:59.039 --> 01:02:01.320
you had putin in that cease far trying. I mean

1178
01:02:01.320 --> 01:02:03.119
that that would be beneficial, you would think if they

1179
01:02:03.159 --> 01:02:06.920
actually come to resolution. But I honestly it's got to

1180
01:02:06.920 --> 01:02:09.719
be somewhat. Of the China ports, we've seen that there's

1181
01:02:09.719 --> 01:02:12.880
been a big strike happening in one of the ports.

1182
01:02:12.880 --> 01:02:14.800
We also saw a big straight happening in New York,

1183
01:02:15.519 --> 01:02:18.880
New Jersey on the whole transit system so interesting that

1184
01:02:18.920 --> 01:02:23.199
you're having a little bit of actual strikes you're not

1185
01:02:23.239 --> 01:02:25.880
really hearing about as much as what you did last year.

1186
01:02:26.000 --> 01:02:28.360
Yeah, I think that if the one thing you just

1187
01:02:28.360 --> 01:02:30.239
just be I think what I'm trying to say here

1188
01:02:30.360 --> 01:02:34.800
is just be cautious. The Marcus had this explosive move higher,

1189
01:02:35.239 --> 01:02:36.760
and it would be easy to say, man, I have

1190
01:02:36.840 --> 01:02:40.639
got to get all in, and this probably isn't an

1191
01:02:40.639 --> 01:02:44.440
ideal time to get all in. I personally would like

1192
01:02:44.519 --> 01:02:46.639
to see maybe a five percent pullback.

1193
01:02:47.199 --> 01:02:50.880
Yeah, And I think unfortunately, when we're all kind of

1194
01:02:50.880 --> 01:02:53.920
thinking that it's too fast, too soon, you won't get

1195
01:02:54.079 --> 01:02:58.440
what you want. So it very easily could go, you know,

1196
01:02:58.880 --> 01:03:01.719
as people get more and more conservative, because it keeps

1197
01:03:01.719 --> 01:03:03.280
going higher and higher. I mean, we'd have this V

1198
01:03:03.320 --> 01:03:06.239
shape before we saw it in the pandemic, and when

1199
01:03:06.280 --> 01:03:08.159
we saw the first V we said there's no way

1200
01:03:08.159 --> 01:03:10.559
it can keep going. And it kept going for another

1201
01:03:10.679 --> 01:03:13.599
year and a half. So it's not that it can't happen.

1202
01:03:14.199 --> 01:03:18.119
And sometimes being too conservative will really get you opportunity

1203
01:03:18.159 --> 01:03:18.639
cost going.

1204
01:03:18.760 --> 01:03:21.440
Something that makes me pretty bullish on that and exactly

1205
01:03:21.519 --> 01:03:25.440
what you're saying a lot of quality companies, quality names

1206
01:03:25.440 --> 01:03:28.480
out that are that are still ten fifteen off their highs.

1207
01:03:28.480 --> 01:03:31.519
For example, Google, that's a great one. I mean, why

1208
01:03:31.599 --> 01:03:33.920
is that thing still not bounced back and recovered.

1209
01:03:34.480 --> 01:03:36.599
Well, it has this week, it had, It had a

1210
01:03:36.639 --> 01:03:40.559
really decent week on the especially after Wednesday. And that

1211
01:03:40.599 --> 01:03:43.280
company has been pretty cheap after all of it's dj

1212
01:03:43.440 --> 01:03:46.000
Sews said. It has to deal with as well as

1213
01:03:46.079 --> 01:03:51.679
just the gauntlet of you have this breakup that is potential.

1214
01:03:51.719 --> 01:03:54.280
So you have this weighing on the company where it's

1215
01:03:54.320 --> 01:03:58.079
the cheapest max seven by far. Every other maximum seems

1216
01:03:58.119 --> 01:04:00.920
to be above thirty on the peat side, and Google

1217
01:04:00.960 --> 01:04:01.440
is down in the.

1218
01:04:01.360 --> 01:04:03.599
Low Twenties's think of all the things coming at Google.

1219
01:04:03.639 --> 01:04:06.159
You've got the Department of Justice lawsuit trying to break

1220
01:04:06.199 --> 01:04:09.960
them up, right, You've got Ai taking away their search.

1221
01:04:11.199 --> 01:04:13.599
Which wasn't proven. It was just a rumor.

1222
01:04:13.760 --> 01:04:15.920
No, that's concern, but it wasn't proven.

1223
01:04:16.599 --> 01:04:17.239
It wasn't proven.

1224
01:04:17.880 --> 01:04:19.440
It's a concern that people have had.

1225
01:04:19.599 --> 01:04:21.679
Yeah, but it's like they prove that that's not true

1226
01:04:21.679 --> 01:04:23.400
with their numbers. So I don't know why people still

1227
01:04:23.400 --> 01:04:24.039
have that concern.

1228
01:04:24.239 --> 01:04:25.480
It's a concern going forward.

1229
01:04:25.559 --> 01:04:28.559
I think this, Yeah, because it's not It hasn't happened

1230
01:04:28.559 --> 01:04:31.719
this minute. Doesn't mean it's not the trend of the future.

1231
01:04:31.719 --> 01:04:37.000
You're not going to chat ever, you always see exactly Yeah, Google, Yah,

1232
01:04:37.519 --> 01:04:38.239
GPT and I.

1233
01:04:38.199 --> 01:04:39.159
Have a bad relationship.

1234
01:04:39.159 --> 01:04:41.519
Even if you don't go to chat bad Mary's probably

1235
01:04:41.519 --> 01:04:43.480
got something up their sleep. I think they're probably pretty

1236
01:04:43.480 --> 01:04:46.800
good at this AI race. You know, look, big company.

1237
01:04:46.480 --> 01:04:48.920
They're going to be just five. I mean most people

1238
01:04:48.960 --> 01:04:52.559
don't even haven't heard of Chat. I mean Google is

1239
01:04:52.599 --> 01:04:53.639
like a Kleenex at this.

1240
01:04:54.320 --> 01:04:58.199
No, I don't like yellow or whatever. You know, it is.

1241
01:04:58.239 --> 01:05:00.639
What you go go to to go is to go

1242
01:05:00.719 --> 01:05:03.000
through Search Engine and will be. Then they break it up.

1243
01:05:03.079 --> 01:05:05.360
What is that going to mean? Will that do anything?

1244
01:05:05.400 --> 01:05:07.480
And then of course the Department of Justice lawsuit.

1245
01:05:08.159 --> 01:05:09.840
You probably remember when they broke up E. C and T.

1246
01:05:10.000 --> 01:05:13.320
Right, Oh my goodness, what a mess, What a mess. Yeah.

1247
01:05:13.360 --> 01:05:16.320
Back in the eighties, we had a we had a

1248
01:05:16.320 --> 01:05:20.719
sheet of paper that showed all seven of the spinoff

1249
01:05:20.800 --> 01:05:24.239
companies and there's probably fifty of them now, but that

1250
01:05:24.360 --> 01:05:27.000
showed all seven of them, and what percentage of the

1251
01:05:27.079 --> 01:05:30.519
cost basis of AT and D was allocated Oh, what

1252
01:05:30.639 --> 01:05:33.039
a mess. What a mess. But the third thing that's

1253
01:05:33.199 --> 01:05:37.639
that's of concern to Google is dropping ad revenue with

1254
01:05:37.760 --> 01:05:40.960
a slowing economy. So those are the three things that

1255
01:05:41.000 --> 01:05:43.639
are And if you can look at those three things

1256
01:05:43.679 --> 01:05:46.559
and say they're all bunk, then the stock cheap and

1257
01:05:46.559 --> 01:05:47.199
you want to buy it.

1258
01:05:47.239 --> 01:05:49.440
Yeah, because if you don't, you didn't add anything in

1259
01:05:49.480 --> 01:05:52.960
there about quantum No, where is googling and being five

1260
01:05:53.000 --> 01:05:56.519
to ten years? Yeah, And when you're an investor thinking

1261
01:05:56.559 --> 01:05:59.239
in a ten plus year investment horizon, which is probably

1262
01:05:59.239 --> 01:06:01.639
anyone below the age of fifty for the most part,

1263
01:06:02.320 --> 01:06:05.199
if you can get your hands to Google, might be

1264
01:06:05.199 --> 01:06:08.400
a bad time to do it on a ten year horizon, right.

1265
01:06:08.599 --> 01:06:11.000
And again, we don't recommend stocks because we don't know

1266
01:06:11.039 --> 01:06:13.760
your investment objective, we don't know your risk tolerance. But

1267
01:06:13.760 --> 01:06:15.079
if you want to give us a call, we can

1268
01:06:15.119 --> 01:06:17.079
talk about that. We can run you through some things

1269
01:06:17.119 --> 01:06:19.039
and see if that's a good fit for you. I

1270
01:06:19.119 --> 01:06:22.639
was interested on Monday to see with the announcement of

1271
01:06:22.719 --> 01:06:28.000
the pause in the tariffs, which stocks benefited the most.

1272
01:06:28.079 --> 01:06:32.400
And a couple of things jumped out at me. Our Age,

1273
01:06:32.440 --> 01:06:36.159
which is the former restoration hardware luxury furniture imported a

1274
01:06:36.199 --> 01:06:39.719
lot of it from China. Jump seventeen percent, Best Buy,

1275
01:06:40.320 --> 01:06:43.079
which gets a lot of electronics from China to ten percent.

1276
01:06:43.400 --> 01:06:46.320
Williams Sonoma another company that does a lot of business

1277
01:06:46.360 --> 01:06:47.559
with China eleven percent.

1278
01:06:47.760 --> 01:06:49.519
What are these over time frames?

1279
01:06:49.719 --> 01:06:51.159
That day one day?

1280
01:06:52.079 --> 01:06:52.719
On what day?

1281
01:06:53.239 --> 01:06:53.559
Monday?

1282
01:06:53.639 --> 01:06:53.880
Monday?

1283
01:06:54.000 --> 01:06:58.360
On Monday Monday, Yeah, US listed Chinese shares rally casino

1284
01:06:58.440 --> 01:07:01.239
operators that have China's exposure rallied.

1285
01:07:01.719 --> 01:07:03.920
Which one is a good one? Uh, Lululemon they cut

1286
01:07:03.960 --> 01:07:05.760
a lot of steam. They got I think ten percent

1287
01:07:05.800 --> 01:07:06.440
pop that day.

1288
01:07:06.519 --> 01:07:08.440
Yeah, that would be another one's channing. I saw him

1289
01:07:08.519 --> 01:07:10.800
a bunch of double digit pops. I just happened to

1290
01:07:10.800 --> 01:07:14.280
pick out a few of that. Yeah, Boying, you know

1291
01:07:14.519 --> 01:07:17.320
Trump was over in Saudi Arabia got six hundred billion

1292
01:07:17.360 --> 01:07:18.519
dollars from the Saudis.

1293
01:07:18.559 --> 01:07:22.039
Boying and always been killing it. We were talking on

1294
01:07:22.079 --> 01:07:23.880
this show for a while about how low it's been

1295
01:07:23.880 --> 01:07:28.199
trading almost pre pandemic loads. For sure. It was that Yeah,

1296
01:07:28.239 --> 01:07:31.440
and uh yeah, they got some big deals inked with

1297
01:07:31.639 --> 01:07:34.559
the Saudis, and it looks like Raytheon also got their

1298
01:07:34.719 --> 01:07:39.559
first UH defense missile system being sold to Katar Lockheed

1299
01:07:39.679 --> 01:07:42.639
got some Missuh jets they're making for i mean the

1300
01:07:42.679 --> 01:07:45.920
whole defense space. On that day that Trump was speaking

1301
01:07:46.320 --> 01:07:49.320
in UAE to the whole people, to all the people,

1302
01:07:50.159 --> 01:07:51.880
a lot of deals were struck, but it looks like

1303
01:07:51.920 --> 01:07:55.800
the defense industry was the biggest beneficiary of that entire thing,

1304
01:07:55.840 --> 01:07:58.239
because the big reason Saudi wanted to invest is so

1305
01:07:58.239 --> 01:08:00.760
we get some military support from US. I mean, they

1306
01:08:00.960 --> 01:08:03.840
love the idea of we have the best military. Obviously,

1307
01:08:04.000 --> 01:08:05.679
it's why we can get away with the things we

1308
01:08:05.719 --> 01:08:07.880
get away with. That's why we can print so much money.

1309
01:08:07.920 --> 01:08:09.920
Don't forget people, so we always have to fund the

1310
01:08:10.599 --> 01:08:14.039
defense first. Everyone's like, what backs the dollar. It's not gold,

1311
01:08:14.079 --> 01:08:16.880
it's not it's not the printer. It's the military. It's

1312
01:08:16.920 --> 01:08:17.520
as long as we.

1313
01:08:17.439 --> 01:08:22.000
Can keep countries the military in the world good, right, exactly,

1314
01:08:22.079 --> 01:08:24.600
you'll be good. Yeah, And you're you're right. Boying hit

1315
01:08:24.680 --> 01:08:28.720
a new fifty two week high. Ge Aero Space hit

1316
01:08:28.760 --> 01:08:31.640
a new fifty two week high. I think hit a

1317
01:08:31.680 --> 01:08:36.000
new fifty Also hit a hit IBM, IBM sleepy sweety

1318
01:08:36.119 --> 01:08:41.199
IBM new all time high. Yeah, all time also all

1319
01:08:41.319 --> 01:08:43.439
time Yeah.

1320
01:08:43.520 --> 01:08:45.800
A company that we've been talking about for a while

1321
01:08:45.880 --> 01:08:47.880
on the show, is like, we've just been looking at

1322
01:08:47.880 --> 01:08:51.199
it as a super cheap was fsl R the first Solar.

1323
01:08:50.960 --> 01:08:53.199
Staff it's been so amazing the last week or so, and.

1324
01:08:53.239 --> 01:08:55.880
Then the last week it just absolutely took off. Only

1325
01:08:56.119 --> 01:08:59.239
there was a big an executive order that Trump signed

1326
01:08:59.239 --> 01:09:02.159
that helped f A clar up significantly and that's why

1327
01:09:02.159 --> 01:09:03.399
they jumped big on Tuesday.

1328
01:09:03.840 --> 01:09:04.319
He is an.

1329
01:09:04.199 --> 01:09:08.479
Executive essentially, an executive order says any Chinese type of

1330
01:09:08.479 --> 01:09:10.920
solar panels are gonna get hit hard with terraffs, but

1331
01:09:11.039 --> 01:09:14.159
because of f s larg's position being regionally made for

1332
01:09:14.199 --> 01:09:17.000
the most part, obviously we've heard about the couple factories

1333
01:09:17.039 --> 01:09:20.000
that have internationally, but for the most part, they're gonna

1334
01:09:20.039 --> 01:09:20.359
kill it.

1335
01:09:20.439 --> 01:09:23.880
Was that it that since the sucked flying the executive order, Yeah.

1336
01:09:23.800 --> 01:09:25.520
That was part of it. And then that same day,

1337
01:09:25.560 --> 01:09:28.680
Wolf Research came out and said that they they think

1338
01:09:28.760 --> 01:09:33.000
for ten billion dollars that the First Solar will gain

1339
01:09:33.039 --> 01:09:38.079
from these clean energy credits credits amazing ten billion dollars.

1340
01:09:39.039 --> 01:09:42.199
One of the stocks that has participated early in the

1341
01:09:42.199 --> 01:09:45.199
week but then went flat as Apple again one of

1342
01:09:45.239 --> 01:09:48.039
the worst performing Dove stocks. They're kind of between a

1343
01:09:48.119 --> 01:09:51.920
rock and a hard place. Trump is insisting on production

1344
01:09:52.000 --> 01:09:55.399
in the United States, and of course China to a peace.

1345
01:09:55.479 --> 01:09:57.960
Trump has been excuse me, Apple to a peace. Trump

1346
01:09:58.039 --> 01:10:00.399
has been moving production from China ty India.

1347
01:10:00.479 --> 01:10:02.199
Well, we thought they were in bed together, right.

1348
01:10:02.159 --> 01:10:04.279
And and Trump yeah, and Trump said, now that's not

1349
01:10:04.319 --> 01:10:05.760
going to work. You got to bring some of that

1350
01:10:05.840 --> 01:10:07.840
to productive, you know. And if you bring it to

1351
01:10:07.880 --> 01:10:12.239
the US, you've got increased labor costs. You've got the unavailable,

1352
01:10:12.479 --> 01:10:16.520
unavailability of workers. Like Taiwan's Semiconductor found not a lot

1353
01:10:16.520 --> 01:10:19.199
of people willing to go into factories and assembles stuff

1354
01:10:19.680 --> 01:10:22.439
in this country. You know, We're just not a country that.

1355
01:10:22.439 --> 01:10:23.680
Works like that.

1356
01:10:23.880 --> 01:10:25.319
No, we're not assembly line workers.

1357
01:10:25.399 --> 01:10:28.079
And the cost of shipping. Almost all of their parts

1358
01:10:28.119 --> 01:10:30.800
are made in Asia. And so if you even if

1359
01:10:30.840 --> 01:10:33.399
you build an assembly plant here in the United States,

1360
01:10:33.479 --> 01:10:38.920
you've got the people, costs shipping. And your iPhone just doubled,

1361
01:10:38.520 --> 01:10:43.640
doubled in price. So Apple on Thursday and Friday, with

1362
01:10:43.800 --> 01:10:48.079
the market continuing to explode higher, Apple did absolutely nothing.

1363
01:10:49.359 --> 01:10:51.760
I think that I think they probably have a little

1364
01:10:51.760 --> 01:10:55.319
bit of a short term weight on them over over

1365
01:10:55.399 --> 01:10:57.079
this issue, don't you guess yeah.

1366
01:10:57.079 --> 01:10:59.840
I mean it's not just the iPhone. Obviously they're going

1367
01:10:59.920 --> 01:11:03.399
to three do everything watch that, you know, there's all that.

1368
01:11:03.399 --> 01:11:05.399
I mean, they're in the bottom two or three performing

1369
01:11:05.520 --> 01:11:07.960
stocks in the Dow for the year. And you say, well,

1370
01:11:08.039 --> 01:11:11.079
you always want to buy the older performers. Would you

1371
01:11:11.199 --> 01:11:11.920
buy Apple?

1372
01:11:12.000 --> 01:11:13.600
I want it. And the problem I had with Apple

1373
01:11:13.640 --> 01:11:16.800
still is just how expensive it is. I mean, it's

1374
01:11:16.840 --> 01:11:19.560
not it's you know, it's yeah, it's traded off its

1375
01:11:19.600 --> 01:11:22.399
all time eyes, but it's not cheap. You think it's

1376
01:11:22.399 --> 01:11:26.199
still thirty three on the pe. So until I see

1377
01:11:26.199 --> 01:11:28.119
it in below twenty five, I'm not like, oh, this

1378
01:11:28.159 --> 01:11:30.800
is a screaming buy. Like you said, there's enough to

1379
01:11:30.840 --> 01:11:34.560
be worried about where it could easily drop another ten percent. Now,

1380
01:11:34.600 --> 01:11:36.279
I think it gets the benefit of the doubt because

1381
01:11:36.319 --> 01:11:38.640
it's such a big company that if the market keeps

1382
01:11:38.680 --> 01:11:41.319
going higher, it'll kind of drift higher. But I don't

1383
01:11:41.319 --> 01:11:43.520
think it explodes high until this resolution is found.

1384
01:11:43.600 --> 01:11:46.399
I think it's the fifty two week clows down around

1385
01:11:46.439 --> 01:11:50.520
one somewhere in se two. That would be a good

1386
01:11:50.520 --> 01:11:53.199
boy if I get If this, uh, if these issues

1387
01:11:53.239 --> 01:11:56.000
cause it to drop down into that area, I think

1388
01:11:56.039 --> 01:11:58.600
it's it. It's pretty attractive, but it would be expensive,

1389
01:11:58.600 --> 01:11:59.520
but it's still pretty.

1390
01:11:59.239 --> 01:12:01.119
Truck like Google, Google over Apple.

1391
01:12:01.199 --> 01:12:03.079
Right now, I'm with you. We'll be back right after

1392
01:12:03.079 --> 01:12:05.359
this break. Thanks again for joining us on the Money

1393
01:12:05.359 --> 01:12:09.159
Matter Show. Good morning, once again, this is the Money

1394
01:12:09.159 --> 01:12:12.920
Matter Show. Dave Surewood here with Dean Greenberg. Joan Greenberg

1395
01:12:13.039 --> 01:12:16.439
is out today. I've got Sebastian Borshini and Todd Click Jr.

1396
01:12:16.920 --> 01:12:20.760
This week we had Navidia and AMD also benefiting quite significantly.

1397
01:12:20.760 --> 01:12:23.880
I mean, the whole semiconductor space obviously had a really

1398
01:12:23.920 --> 01:12:25.840
good week, but the Navidian A m D are kind

1399
01:12:25.840 --> 01:12:28.279
of in the spotlight because those CEOs are always in

1400
01:12:27.880 --> 01:12:30.920
the big events. And you saw the na Vidi CEO

1401
01:12:31.000 --> 01:12:33.600
and am D CEO shake the hands of the Trump

1402
01:12:33.600 --> 01:12:37.399
and Ue during the spot We also saw Palanteer CEO there.

1403
01:12:37.479 --> 01:12:41.680
We saw Sam Altman, the Open AI guy.

1404
01:12:43.399 --> 01:12:43.600
You know.

1405
01:12:43.640 --> 01:12:47.319
Obviously Elon was there too, So some big, powerful names,

1406
01:12:47.560 --> 01:12:49.960
and that's something that obviously is just the striking difference

1407
01:12:50.000 --> 01:12:55.279
between Trump and Biden is the deals and also the

1408
01:12:55.359 --> 01:12:59.680
respect factor, but just the prestige of that event, I mean,

1409
01:12:59.720 --> 01:13:03.439
seeing all those people making big decisions around the world,

1410
01:13:03.439 --> 01:13:08.199
getting together and actually having meaningful conversation, something that I

1411
01:13:08.199 --> 01:13:10.199
don't feel like we've any of us has seen over

1412
01:13:10.199 --> 01:13:11.199
the last four years.

1413
01:13:11.399 --> 01:13:15.119
I agree with the difference between the two is just.

1414
01:13:15.800 --> 01:13:20.119
Dramatic, and I think the market's responding to that. With

1415
01:13:20.199 --> 01:13:21.800
the ten years still at four to five, we still

1416
01:13:21.840 --> 01:13:24.119
got a problem with that long term, and I think

1417
01:13:24.159 --> 01:13:27.000
Trump knows that. He was very happy and even touting

1418
01:13:27.039 --> 01:13:29.399
the fact that when the tenure got down to the

1419
01:13:29.439 --> 01:13:33.000
four low four level, he was bringing it up and

1420
01:13:33.359 --> 01:13:36.279
it quickly reversed course and it's back to the four fives.

1421
01:13:36.600 --> 01:13:38.479
With that four or five level, comes to the fact

1422
01:13:38.520 --> 01:13:42.640
that annuities are still relatively strong the magas. You can

1423
01:13:42.680 --> 01:13:45.479
still get around a five point five to five percent

1424
01:13:45.520 --> 01:13:48.640
guaranteed for three to seven years. If you want safe money,

1425
01:13:48.640 --> 01:13:51.560
that's a place to look. Uh, there's also guaranteed income,

1426
01:13:51.760 --> 01:13:55.079
right we obviously there's When you hear about bonuses, they're

1427
01:13:55.079 --> 01:13:58.840
normally around these guaranteed income type of products. So if

1428
01:13:58.840 --> 01:14:00.520
you ever have a question about a bone or have

1429
01:14:00.520 --> 01:14:02.560
a question about how annuity works, just give us a call.

1430
01:14:02.720 --> 01:14:05.479
We'll let you know how it works. We give it truly.

1431
01:14:05.720 --> 01:14:07.079
What we like to do now is look at fee

1432
01:14:07.079 --> 01:14:10.119
based annuities. We think fee based annuities are the way

1433
01:14:10.159 --> 01:14:13.159
to go for the future of our industry. It's more

1434
01:14:13.399 --> 01:14:17.000
like of how we're managing current investment accounts. It's fee based,

1435
01:14:17.119 --> 01:14:20.039
meaning if the account goes down in value, I make

1436
01:14:20.119 --> 01:14:23.000
less money and there's not a huge upfront commission that

1437
01:14:23.039 --> 01:14:25.960
I receive, meaning that there's an actual incentive for me

1438
01:14:26.000 --> 01:14:28.000
to have a long term relationship with the client instead

1439
01:14:28.000 --> 01:14:31.359
of just being a transactional one. So having these annuities

1440
01:14:31.920 --> 01:14:35.079
be cheaper for the insurance company that makes them allows

1441
01:14:35.119 --> 01:14:37.279
them to make a better product for the end user,

1442
01:14:37.319 --> 01:14:40.119
the client, So it actually helps the client get more

1443
01:14:40.399 --> 01:14:43.239
money than they otherwise would with a commission annuity. So

1444
01:14:43.760 --> 01:14:46.159
you know, me and Dave, we've been pretty surprised on

1445
01:14:46.239 --> 01:14:48.159
some of the annual income amounts that you can get

1446
01:14:48.159 --> 01:14:50.760
out of these products. So if you are kind of

1447
01:14:50.800 --> 01:14:53.680
on the fence and whether or not you should see

1448
01:14:53.680 --> 01:14:55.600
in it, you've seen bad things about annuities, I say,

1449
01:14:55.800 --> 01:14:58.279
give us a chance to explain these new ones, because

1450
01:14:58.279 --> 01:15:01.560
they're not as fee ridden as the commission ones that

1451
01:15:01.600 --> 01:15:03.439
you're really used to seeing in the past.

1452
01:15:03.680 --> 01:15:06.920
Right the change instructure, Greenberg Financial went from a broker

1453
01:15:06.920 --> 01:15:10.159
dealer to a registered investment advisor, which essentially we went

1454
01:15:10.199 --> 01:15:13.960
from a firm that could do commission business and fee

1455
01:15:14.000 --> 01:15:18.239
business to a all fee firm. And so the annuities

1456
01:15:18.279 --> 01:15:21.600
that we are able to provide now are all fee based,

1457
01:15:21.920 --> 01:15:26.000
and the difference in cost between those and the broker

1458
01:15:26.039 --> 01:15:30.239
dealer side are dramatic. So if you're talking to anyone

1459
01:15:30.279 --> 01:15:35.479
about an annuity, give us a call. Tell us what

1460
01:15:35.520 --> 01:15:39.479
you're doing. We saw one the other day that we

1461
01:15:39.520 --> 01:15:41.159
looked at that we said, yeah, that looks like a

1462
01:15:41.199 --> 01:15:43.800
reasonable deal. Go ahead and go with that. Saw one

1463
01:15:43.920 --> 01:15:48.119
on Friday where the clients had been put into a

1464
01:15:48.159 --> 01:15:53.119
fourteen year, ten ten year annuity, five hundred thousand dollars

1465
01:15:53.159 --> 01:15:55.720
into a ten year an annuity with ten years worth

1466
01:15:55.760 --> 01:15:58.199
of penalties and a fixed interest rate of two and

1467
01:15:58.239 --> 01:16:01.359
a half percent ten years. They're getting two and a

1468
01:16:01.359 --> 01:16:03.520
half percent. Now, you would have bought that back when

1469
01:16:03.600 --> 01:16:07.279
rates were down. We're low, right, but I promise you

1470
01:16:07.319 --> 01:16:10.239
that somebody got paid at least a ten percent commission,

1471
01:16:11.079 --> 01:16:13.920
you know, a fifty thousand dollars commission to sell them

1472
01:16:14.000 --> 01:16:18.119
that product, which is which was horrible. So please be

1473
01:16:18.199 --> 01:16:19.239
careful out there.

1474
01:16:19.119 --> 01:16:22.560
And when we offer the annuity, we like almost always

1475
01:16:22.560 --> 01:16:25.960
to do the financial plan first. Very rarely are we

1476
01:16:26.039 --> 01:16:29.239
just going to do annuity without understanding the whole picture,

1477
01:16:29.319 --> 01:16:31.760
because we have to understand the income, We have to

1478
01:16:31.840 --> 01:16:35.439
understand your entire liquid portfolio. We don't like to put

1479
01:16:35.479 --> 01:16:38.279
any time, really more than fifty percent of your portfolio

1480
01:16:38.640 --> 01:16:42.840
in an annuity because there are you know, surrender penalties

1481
01:16:42.960 --> 01:16:45.199
that you could face if you need more than what

1482
01:16:45.239 --> 01:16:47.880
you were designed to get out of them. So there's

1483
01:16:47.920 --> 01:16:50.520
a lot of things we have to follow. But with

1484
01:16:50.600 --> 01:16:53.319
the with the plan, we can decide do you even

1485
01:16:53.399 --> 01:16:55.800
need an annuity? Can we just supplement your income with

1486
01:16:55.840 --> 01:16:58.760
a traditional investment portfolio and not have to go through

1487
01:16:58.760 --> 01:17:00.600
any of the fees of the end it because there's

1488
01:17:00.600 --> 01:17:02.720
still going to be thieves, You're still going to give

1489
01:17:02.800 --> 01:17:06.079
up some type of return for the word guarantee. That's

1490
01:17:06.159 --> 01:17:08.479
just always there's no free lunch in this market, in

1491
01:17:08.520 --> 01:17:11.239
this world. But if you need that word, we can

1492
01:17:11.279 --> 01:17:12.359
find the best products for you.

1493
01:17:12.560 --> 01:17:15.000
And you guys are still doing the financial plans. I

1494
01:17:15.079 --> 01:17:19.960
see one, two, three of them every single day in here,

1495
01:17:21.119 --> 01:17:26.399
literally hundreds of people taking advantage of the completely free

1496
01:17:26.760 --> 01:17:30.199
financial plan that many many firms charge a lot of

1497
01:17:30.239 --> 01:17:32.399
money for I know that. On Friday, Todd, you and

1498
01:17:32.479 --> 01:17:35.239
I said in on one that where the people had

1499
01:17:35.279 --> 01:17:40.720
an annuity with a six percent penalty and they're paying

1500
01:17:40.800 --> 01:17:45.399
fifteen percent on a car loan because they have their credit.

1501
01:17:45.439 --> 01:17:49.680
Wasn't that great? We said, take the six percent penalty,

1502
01:17:50.079 --> 01:17:53.800
pay off the fifteen percent car loan. Duh, pretty easy

1503
01:17:54.399 --> 01:17:57.199
and something. And I said, why haven't you done that?

1504
01:17:57.239 --> 01:18:02.279
And they said, because no one's ever said to do that.

1505
01:18:02.279 --> 01:18:04.560
That's a real good good deal there. They were getting

1506
01:18:04.600 --> 01:18:07.199
two percent on the annuity, so they're going to save

1507
01:18:07.239 --> 01:18:10.640
that thirteen percent difference and they pay a six percent

1508
01:18:10.680 --> 01:18:13.000
penalty to get rid of that thirteen percent different So

1509
01:18:14.680 --> 01:18:19.439
nice seven percent win on that money. So those are

1510
01:18:19.560 --> 01:18:21.960
kind of some of the things I've had. I've sat

1511
01:18:22.000 --> 01:18:24.600
through other ones where you've said to people you need

1512
01:18:24.640 --> 01:18:28.079
to do a Roth conversion. Here. I've had clients that

1513
01:18:28.159 --> 01:18:31.279
transferred in that should have done a Roth conversion. They

1514
01:18:31.279 --> 01:18:33.920
had a couple of windows to do Roth conversions. They

1515
01:18:33.920 --> 01:18:37.279
didn't do them because no one had ever mentioned them.

1516
01:18:37.880 --> 01:18:40.319
These are the kind of things that come up in

1517
01:18:40.359 --> 01:18:45.199
these financial plans that you never even think about, that

1518
01:18:45.199 --> 01:18:49.399
that if you haven't done it. Free financial plan, take

1519
01:18:49.439 --> 01:18:51.960
advantage of it. It's really a cool deal.

1520
01:18:52.119 --> 01:18:52.319
Yeah.

1521
01:18:52.319 --> 01:18:54.239
I had a client that was coming in here where

1522
01:18:54.399 --> 01:18:55.960
I was looking at his income. I was like, why

1523
01:18:55.960 --> 01:18:58.640
do you have such high income showing up on the books.

1524
01:18:58.640 --> 01:19:00.199
And then he's like, actually, it just came down this

1525
01:19:00.279 --> 01:19:02.800
last year because I'm taking a little bit more a

1526
01:19:02.800 --> 01:19:05.239
little less out of my iras and I'm starting to

1527
01:19:05.319 --> 01:19:08.079
use my cash value life insurance policies. And I was like, oh,

1528
01:19:08.279 --> 01:19:10.039
that's perfect. I mean, that makes sense that you would

1529
01:19:10.079 --> 01:19:12.760
be using cash value life because it's bringing down your

1530
01:19:12.760 --> 01:19:14.720
taxable income on paper, so you're not going to get

1531
01:19:14.760 --> 01:19:17.000
tax as much, giving some room to possibly do some

1532
01:19:17.079 --> 01:19:21.000
roth conversions. That also if you don't do any wroth conversions,

1533
01:19:21.079 --> 01:19:22.920
or you can just bring down your IRMA, you know,

1534
01:19:22.960 --> 01:19:25.359
because every time you show higher income, you're going to

1535
01:19:25.399 --> 01:19:29.079
be impacting your ERMA brackets on Medicare and IRMA. For

1536
01:19:29.079 --> 01:19:33.920
those who don't know, is inflation something factor, but it's

1537
01:19:34.159 --> 01:19:38.000
it's essentially saying it's an income related factor. And what

1538
01:19:38.039 --> 01:19:41.239
it's doing is I think the base Medicare is one

1539
01:19:41.359 --> 01:19:44.439
ninety four per person, it can go up to five

1540
01:19:44.560 --> 01:19:47.960
hundred a little over five hundred per person if you're

1541
01:19:48.000 --> 01:19:51.319
in the top income brackets. So managing how much income

1542
01:19:51.359 --> 01:19:53.760
you're showing up on the books is very important in

1543
01:19:53.800 --> 01:19:56.399
retirement because there's a two year look back that Medicare does.

1544
01:19:56.720 --> 01:19:58.800
So what we're able to do with this guy was saying, hey,

1545
01:19:58.880 --> 01:20:01.680
let's actually take money from the cash relat life insurance

1546
01:20:01.840 --> 01:20:05.439
loan against it. IRS does not tax loans as income,

1547
01:20:05.760 --> 01:20:08.279
which then allows you to do some rock conversions, freeze

1548
01:20:08.319 --> 01:20:10.880
up taxable income, and you don't have to do as

1549
01:20:10.960 --> 01:20:12.960
much to be in the next ERMA bracket. So there's

1550
01:20:13.000 --> 01:20:16.319
a lot of creative things to do strategies that eventually

1551
01:20:16.319 --> 01:20:18.840
also help the next generation because the idea is to

1552
01:20:18.840 --> 01:20:21.399
get as much money into the WROTH buckets and the

1553
01:20:21.479 --> 01:20:25.479
taxable accounts because they'll get a step up in basis,

1554
01:20:25.560 --> 01:20:29.079
they'll get tax free transfer and the WROTH. But the

1555
01:20:29.520 --> 01:20:31.920
kind of the worst account to give in my opinion,

1556
01:20:31.920 --> 01:20:35.640
almost would be the traditional IRA because especially if I mean,

1557
01:20:35.640 --> 01:20:38.279
think about your your daughter doing pretty well, Dave, if

1558
01:20:38.319 --> 01:20:40.720
she just gets your traditional IRA, all of a sudden,

1559
01:20:40.800 --> 01:20:43.640
she has to take that income, right yeah, and then

1560
01:20:43.680 --> 01:20:44.800
you you don't get a choice.

1561
01:20:44.840 --> 01:20:46.119
You got to take it in ten years, and.

1562
01:20:46.079 --> 01:20:47.800
Then what if she's in a high income brack? Yeah,

1563
01:20:48.239 --> 01:20:48.960
what are you going to do?

1564
01:20:49.079 --> 01:20:49.159
So?

1565
01:20:49.920 --> 01:20:52.520
I mean sometimes even looking at the idea of if

1566
01:20:53.199 --> 01:20:55.439
if you were in a low income bracket, does it

1567
01:20:55.479 --> 01:20:57.159
make sense for you to pay the taxes now do

1568
01:20:57.279 --> 01:21:00.119
the conversion instead of having the air that might be

1569
01:21:00.119 --> 01:21:01.840
in the thirty six percent bracket already?

1570
01:21:02.039 --> 01:21:04.119
Yeah? I think that's it. And the point of this

1571
01:21:04.399 --> 01:21:08.159
is that the financial plan that you guys provide for

1572
01:21:08.199 --> 01:21:13.000
free is very sophisticated. It has a lot of moving parts.

1573
01:21:13.359 --> 01:21:16.479
It uncovers a lot of interesting things that people don't

1574
01:21:16.520 --> 01:21:20.079
think about. And if you haven't done it, if you've

1575
01:21:20.119 --> 01:21:22.600
done it, I think you probably would agree with me.

1576
01:21:23.039 --> 01:21:26.279
If you haven't done it, please take advantage of it.

1577
01:21:26.279 --> 01:21:30.239
It's for a limited time only the rest of our lives, right, yeah,

1578
01:21:30.760 --> 01:21:32.920
how long? I think GIN will probably do it as

1579
01:21:32.920 --> 01:21:33.560
long as we can.

1580
01:21:33.720 --> 01:21:36.600
So, you know, something else I think I'm looking at

1581
01:21:36.600 --> 01:21:40.359
with investment allocations here is part of the diversitify case.

1582
01:21:40.359 --> 01:21:43.239
Part of our model is a small cap index. The

1583
01:21:43.279 --> 01:21:46.479
small cap index is still sixteen point seven percent off.

1584
01:21:46.479 --> 01:21:49.439
It's high. Where the ECO weight is four point four,

1585
01:21:49.720 --> 01:21:53.720
the SMP only three point one Nasdak only four point nine.

1586
01:21:53.880 --> 01:21:56.279
Everything is under pretty much five percent off is all

1587
01:21:56.279 --> 01:21:59.560
the time high except Russell two thousand. The echo weighted

1588
01:21:59.680 --> 01:22:04.119
it is sixteen point seven off, so quite a significant

1589
01:22:04.119 --> 01:22:07.119
divergence there. Small caps have not been participating in this

1590
01:22:07.199 --> 01:22:10.000
rally that we've seen over the back half of April

1591
01:22:10.039 --> 01:22:11.800
and early May. So what do you what are you

1592
01:22:11.840 --> 01:22:12.520
seeing there, Dave?

1593
01:22:12.720 --> 01:22:15.279
I think it's a small camp is always is always

1594
01:22:15.279 --> 01:22:16.600
going to be the last. It's kind of like a

1595
01:22:16.640 --> 01:22:20.439
rental property, I'm sorry, a vacation home. A vacation home

1596
01:22:20.520 --> 01:22:22.319
is always going to be the last one to go

1597
01:22:22.439 --> 01:22:25.000
up when the market rallies and the first one to

1598
01:22:25.039 --> 01:22:27.840
come down when the market starts to weaken. And that's

1599
01:22:27.880 --> 01:22:31.319
the Russell. Russell is a vacation property.

1600
01:22:31.359 --> 01:22:33.159
And the funny thing about the Russell for those who

1601
01:22:33.159 --> 01:22:36.760
don't know, is, if I'm not mistaken, it would have

1602
01:22:36.800 --> 01:22:38.399
a higher growth rate than the S and P. It

1603
01:22:38.439 --> 01:22:42.119
should be around twelve percent to ten percent smps. So

1604
01:22:43.319 --> 01:22:46.119
it's a it's a more volatile index. The reason being

1605
01:22:46.199 --> 01:22:48.319
is you got to think about companies like Netflix fifteen

1606
01:22:48.399 --> 01:22:51.199
years ago, sure, and no one really believed in them.

1607
01:22:51.199 --> 01:22:53.079
They were like, why would you invest the Netflix Blockbuster

1608
01:22:53.119 --> 01:22:53.840
seems just fun.

1609
01:22:54.800 --> 01:22:56.640
Smaller companies that can double or go.

1610
01:22:56.600 --> 01:22:59.159
Out of Spotify a couple, you know, think about it. Right,

1611
01:22:59.239 --> 01:23:01.439
So those companies are gonna have higher growth rates, but

1612
01:23:01.439 --> 01:23:04.000
they're gonna have a lot higher volatility too, because when

1613
01:23:04.039 --> 01:23:07.119
the market isn't bad, there's a quite high significant chance

1614
01:23:07.119 --> 01:23:08.800
that they're not gonna make it.

1615
01:23:09.079 --> 01:23:11.760
Something we talked about last week was Weymo. We talked

1616
01:23:11.760 --> 01:23:16.359
about alphabet self driving cars using the Jaguar eye Pace.

1617
01:23:16.439 --> 01:23:20.239
I did not know that all of the weymore cars

1618
01:23:20.399 --> 01:23:23.119
eye paces, and last week we learned that they're going

1619
01:23:23.199 --> 01:23:27.000
to manufacture another two thousand of those vehicles in a

1620
01:23:27.039 --> 01:23:31.079
new plant in Mesa this year. And you know, Phoenix

1621
01:23:31.119 --> 01:23:34.279
is getting so much manufacturing it's just amazing.

1622
01:23:34.319 --> 01:23:36.359
They better have a lot of assembly line workers to go.

1623
01:23:36.800 --> 01:23:38.960
I don't, yeah exactly, I don't know where all those

1624
01:23:39.319 --> 01:23:41.840
But the thought crossed my mind, what's just going to

1625
01:23:41.920 --> 01:23:45.159
do to Tesla's robo taxi? Right?

1626
01:23:45.239 --> 01:23:47.920
And that is that like a competitor.

1627
01:23:48.119 --> 01:23:51.399
It's not really Yeah, And that's the one thing I

1628
01:23:51.399 --> 01:23:53.640
wanted to bring up. It's not because Waymo's not going

1629
01:23:53.680 --> 01:23:55.800
to sell these to the public as a whole different

1630
01:23:55.840 --> 01:23:56.479
business model.

1631
01:23:56.640 --> 01:23:58.279
What do you mean, So it's a public question. Not

1632
01:23:58.359 --> 01:24:01.760
they're going to just be a a ride sharing service.

1633
01:24:02.079 --> 01:24:04.159
That's what they do, right, They're not going to sell

1634
01:24:04.199 --> 01:24:06.960
these vehicles to the public like Tesla is.

1635
01:24:07.119 --> 01:24:09.359
But yeah, but robot taxi, the idea of is you

1636
01:24:09.399 --> 01:24:11.720
can sell your car to the public.

1637
01:24:12.039 --> 01:24:14.439
A different business model one of them's.

1638
01:24:14.640 --> 01:24:14.840
Yeah.

1639
01:24:15.079 --> 01:24:16.760
If I'm if I'm someone who wants to take a

1640
01:24:16.840 --> 01:24:20.600
driverless car, I can either pick a Tesla driverless car

1641
01:24:21.239 --> 01:24:22.720
or the Waimo driverless car.

1642
01:24:22.800 --> 01:24:24.800
And with that we'll close this segment. We'll be back

1643
01:24:24.800 --> 01:24:26.680
with the final segment of The Money Matter Show.

1644
01:24:27.319 --> 01:24:28.960
Welcome back to the Money Matter Show. My name is

1645
01:24:29.000 --> 01:24:31.880
Sebastian Borsini. I'm here with David Sherwood and Todd click Junior.

1646
01:24:31.880 --> 01:24:33.560
On the last segment, we were talking a little bit

1647
01:24:33.600 --> 01:24:37.439
about these way Moo autonomous vehicles and same thing with

1648
01:24:37.479 --> 01:24:42.720
the Tesla vehicles. Another interesting ride sharing program and it's

1649
01:24:42.720 --> 01:24:45.439
not gonna be it is ride sharing Archer Aviation. Have

1650
01:24:45.479 --> 01:24:47.319
you guys heard about that? About that this week?

1651
01:24:47.399 --> 01:24:48.039
We have.

1652
01:24:49.760 --> 01:24:51.960
On the week just because they came out and so

1653
01:24:52.079 --> 01:24:53.439
that they're going to cut a deal with the US

1654
01:24:53.520 --> 01:24:57.880
Olympics to be the electric taxi, the electric air taxi

1655
01:24:58.039 --> 01:25:02.319
of the Olympic Games, for LA twenty whatever.

1656
01:25:03.319 --> 01:25:05.920
It's every four years, gonna be gonna be the electric

1657
01:25:06.039 --> 01:25:08.159
air official electric air taxi.

1658
01:25:08.319 --> 01:25:10.720
Right, So then then you start then you start to

1659
01:25:10.800 --> 01:25:13.439
then you start to think about the small cap conversation

1660
01:25:13.479 --> 01:25:16.039
that Todd was talking about. Why would I buy Netflix

1661
01:25:16.159 --> 01:25:19.159
when best buy or when what is.

1662
01:25:19.079 --> 01:25:20.880
It larger best buy?

1663
01:25:21.079 --> 01:25:27.560
Or Netflix when blocks just fine? Why would I buy

1664
01:25:27.600 --> 01:25:33.880
this electric vehicle electric air taxi company? Why doesn't make sense?

1665
01:25:33.960 --> 01:25:34.279
Right now?

1666
01:25:34.960 --> 01:25:35.119
Well?

1667
01:25:35.159 --> 01:25:37.359
Yeah, I mean every time I think of that, I

1668
01:25:37.399 --> 01:25:40.119
just think of what Elon said and the reason he

1669
01:25:40.159 --> 01:25:45.399
stopped with the uh flying cars. As he says, it's

1670
01:25:45.439 --> 01:25:49.439
really annoying to hear you ever heard of drone? Oh yeah, yeah,

1671
01:25:50.039 --> 01:25:53.359
So imagine a drone like ten times to sid Yeah,

1672
01:25:53.479 --> 01:25:55.439
He's like that'd be really annoying. And then imagine like

1673
01:25:55.640 --> 01:25:58.199
a lot of them in the sky. No, Like, so

1674
01:25:58.279 --> 01:25:59.840
I was just like, yeah, that's a good point. You live,

1675
01:26:00.119 --> 01:26:03.000
you would would not want to live there, I don't guess.

1676
01:26:03.079 --> 01:26:05.720
I don't think they even if the city approves it,

1677
01:26:05.960 --> 01:26:08.079
quickly unapprove it, if you put it that way.

1678
01:26:08.239 --> 01:26:11.239
Well, they're supposed to be super quiet is what Archer

1679
01:26:11.279 --> 01:26:12.039
Aviation says.

1680
01:26:12.119 --> 01:26:14.439
Well, it would have to be. It would have to because,

1681
01:26:14.520 --> 01:26:17.760
like Elion said, if there is noisy to drone and

1682
01:26:17.800 --> 01:26:20.800
then times ten and you put you know, six of

1683
01:26:20.920 --> 01:26:21.600
them up, there might.

1684
01:26:21.600 --> 01:26:24.159
Good In the Russell two thousand, the small cap index,

1685
01:26:24.279 --> 01:26:26.079
that is the type of company that you would see

1686
01:26:26.119 --> 01:26:28.159
within that index that you don't know that if it's

1687
01:26:28.199 --> 01:26:29.920
going to be profitable or not in the next ten

1688
01:26:30.000 --> 01:26:31.520
fifteen years. You don't even know if it's going to

1689
01:26:31.520 --> 01:26:33.359
be around, but it could be.

1690
01:26:34.560 --> 01:26:40.199
Speaking of speaking of what could be around, how about Starbucks.

1691
01:26:40.319 --> 01:26:42.199
Did you see the news last week about China.

1692
01:26:42.880 --> 01:26:44.840
No, I've just been seeing a bunch of strike stuff

1693
01:26:44.840 --> 01:26:45.119
with them.

1694
01:26:45.239 --> 01:26:45.439
Yeah.

1695
01:26:45.479 --> 01:26:47.760
Wow, they've got yeah, they got some uniform issues, right,

1696
01:26:48.600 --> 01:26:49.079
some of their.

1697
01:26:48.960 --> 01:26:50.319
Employees title employees.

1698
01:26:50.399 --> 01:26:52.840
Right. Yeah. The interesting part about that, though, is is

1699
01:26:52.840 --> 01:26:56.560
is Starbucks they're twenty five percent off the high I

1700
01:26:56.600 --> 01:27:00.359
really like Brian Nichols. He has been successful everything starch

1701
01:27:00.479 --> 01:27:03.399
just turn to gold. He has this ability now to

1702
01:27:03.439 --> 01:27:08.039
go back to his former companies and hand pick highly

1703
01:27:08.159 --> 01:27:11.560
qualified people to come to Starbucks and work for him.

1704
01:27:12.199 --> 01:27:14.680
So he's in a really neat spot to try to

1705
01:27:14.720 --> 01:27:18.079
turn this thing around. The one thing I was concerned

1706
01:27:18.119 --> 01:27:21.199
about when they first announced him as CEO. The only

1707
01:27:21.239 --> 01:27:23.399
thing actually I was concerned about is he has no

1708
01:27:23.800 --> 01:27:29.000
international experience with Chipotle, none and was Taco Bell I

1709
01:27:29.039 --> 01:27:33.720
think was before that. They came out this week and

1710
01:27:33.760 --> 01:27:36.800
they said that they're reaching out to private equity firms,

1711
01:27:36.840 --> 01:27:41.079
tech companies and others about selling a portion of their

1712
01:27:41.159 --> 01:27:45.520
China business to someone else. So he's want he's wanting

1713
01:27:45.560 --> 01:27:50.920
to have China be a less be less of an

1714
01:27:50.960 --> 01:27:53.960
issue for him. You know, China has been ever since

1715
01:27:54.000 --> 01:27:57.520
they moved there, and China had become at one point

1716
01:27:57.560 --> 01:28:01.000
had become their biggest exposure was in China. They had

1717
01:28:01.000 --> 01:28:03.800
more stores in China than in the United States. Then

1718
01:28:04.199 --> 01:28:07.039
they were opening up one every nine hours something like that.

1719
01:28:07.119 --> 01:28:09.399
I'm remembering this from a year or two ago. Won

1720
01:28:09.439 --> 01:28:12.880
every nine hours in China. Well, of course, the Chinese

1721
01:28:12.920 --> 01:28:16.520
economy went south with the pandemic. They did a horrible

1722
01:28:16.600 --> 01:28:20.119
job of coming out of the pandemic. Now they have

1723
01:28:20.199 --> 01:28:23.840
all kinds of competition over there. You've got the trade

1724
01:28:23.880 --> 01:28:27.560
wars going back and forth. It's a difficult place to

1725
01:28:27.640 --> 01:28:32.840
do business. And Starbucks unfortunately has has big exposure there.

1726
01:28:34.199 --> 01:28:37.159
Dick's Sporting Goods. Did you see what they did something

1727
01:28:37.239 --> 01:28:41.560
that many of their investors think was really really stupid

1728
01:28:42.359 --> 01:28:45.279
foot Locker. They bought foot Locker before foot Locker could

1729
01:28:45.319 --> 01:28:47.000
go out of business.

1730
01:28:46.960 --> 01:28:48.319
And paid a premium for it.

1731
01:28:48.479 --> 01:28:53.079
They paid two point four billion dollars for a company

1732
01:28:53.119 --> 01:28:55.239
that many people believe was going out of business.

1733
01:28:55.239 --> 01:28:56.760
Well, you know what I think is also funny is

1734
01:28:56.760 --> 01:28:58.920
they put up a ten year chart of dick Sporting's

1735
01:28:58.960 --> 01:29:03.680
Goods against Nike, Okay, and I was very surprised Dick's

1736
01:29:03.680 --> 01:29:04.560
Sporting Goods.

1737
01:29:04.319 --> 01:29:06.319
Has killed, oh yeah, dramatically.

1738
01:29:06.920 --> 01:29:11.800
And then you're thinking, it's like, like Dick's though sells

1739
01:29:11.800 --> 01:29:13.960
like Nike. That's probably like one of their biggest brands

1740
01:29:14.000 --> 01:29:17.399
that they sell, right all it's like, how did like

1741
01:29:17.439 --> 01:29:19.079
they get the product from Nike? Like how are they

1742
01:29:19.079 --> 01:29:24.119
doing so much better because they you know, no, it's

1743
01:29:24.159 --> 01:29:26.039
not just shoes though. I mean, obviously Nike has a

1744
01:29:26.079 --> 01:29:28.960
gauntlet of things. But it was just very interesting to

1745
01:29:29.000 --> 01:29:33.000
see how bad Nike has done at selling things because

1746
01:29:33.399 --> 01:29:35.039
they should have done just as fine. They could have

1747
01:29:35.039 --> 01:29:38.760
become a sporting goods store over the last ten years Nike. Yeah,

1748
01:29:38.800 --> 01:29:40.000
I mean, if you just think and that's why I

1749
01:29:40.039 --> 01:29:42.720
think it's just like missed opportunities of businesses three times.

1750
01:29:42.760 --> 01:29:43.439
But in what way?

1751
01:29:43.479 --> 01:29:45.920
Because if I'm thinking, Okay, I'm gonna go take my kid.

1752
01:29:46.079 --> 01:29:48.319
They took away, they took it. They used to have golf,

1753
01:29:48.399 --> 01:29:50.880
they took that away. They used to have other things.

1754
01:29:50.880 --> 01:29:52.600
They keep taking it away. Why would they take it

1755
01:29:52.840 --> 01:29:54.960
buying a Nike baseball bat. I'm not buying a Nike

1756
01:29:55.000 --> 01:29:56.760
baseball glove. I'm not buying Nike.

1757
01:29:57.560 --> 01:29:58.600
I don't know. Whatever.

1758
01:29:58.840 --> 01:29:59.760
Yeah, but you would have.

1759
01:30:01.399 --> 01:30:04.079
So you tried a lot of different things, didn't they.

1760
01:30:04.359 --> 01:30:06.560
Well, they never had a sporting goods store. They always

1761
01:30:06.600 --> 01:30:10.359
had outlets. True, they always had clothing stores. And I

1762
01:30:10.359 --> 01:30:12.640
feel like if they truly leaned into their sports the

1763
01:30:12.640 --> 01:30:15.279
way Dick's Sporting Goods did, they would have been doing

1764
01:30:15.439 --> 01:30:18.760
just fine. But you're right on a fab basis where

1765
01:30:18.800 --> 01:30:22.359
you're just relying on clothing and now the biggest thing

1766
01:30:22.439 --> 01:30:26.279
is shoes. It's a very fashion related business.

1767
01:30:26.840 --> 01:30:30.000
Big change last weekend the ipo market, which has been

1768
01:30:30.079 --> 01:30:31.960
kind of laying dead for the last year and a half.

1769
01:30:32.000 --> 01:30:36.399
There have not been a lot of successful IPOs. When

1770
01:30:36.399 --> 01:30:41.079
they brought out e Toro E Toro is essentially the

1771
01:30:41.239 --> 01:30:43.119
Israeli version of Robin Hood.

1772
01:30:44.119 --> 01:30:46.359
Yeah, you could do a little cooler things with it, though.

1773
01:30:46.760 --> 01:30:49.359
You can do some copy trading, which is interesting, and

1774
01:30:50.039 --> 01:30:53.239
they've been around for a while, a little big into

1775
01:30:53.279 --> 01:30:56.560
the crypto space too. I'd expect that to get some

1776
01:30:56.680 --> 01:30:59.520
attention from the memes space. So be careful if you

1777
01:30:59.560 --> 01:31:02.800
see that dock do anything crazy. Don't just get into it.

1778
01:31:02.840 --> 01:31:07.119
But yeah, that could become meme stock. Yeah, it's after

1779
01:31:07.159 --> 01:31:10.199
the IPO which is which is kind of gave the

1780
01:31:10.239 --> 01:31:15.199
IPO market a little kick in the behind, if you will, uh,

1781
01:31:15.479 --> 01:31:17.880
forty percent higher than where it was where it opened,

1782
01:31:17.920 --> 01:31:20.880
I mean price, I have no idea to I'll say

1783
01:31:20.880 --> 01:31:22.479
it was ten dollars. Let's say it one hundred dollars.

1784
01:31:22.439 --> 01:31:25.359
Who cares about forty percent? I think it was around

1785
01:31:25.359 --> 01:31:28.600
fifty five, That's what I want to say. But that's

1786
01:31:28.600 --> 01:31:31.880
gonna that should bode well for some of these major

1787
01:31:32.000 --> 01:31:36.399
underwriters Morgan Stanley Goldman's acts should it should be good

1788
01:31:36.399 --> 01:31:39.720
for them that the IPO market is has woken up.

1789
01:31:40.000 --> 01:31:43.640
Did you see Doximity? Doximity is faithbook for doctors. I

1790
01:31:43.680 --> 01:31:45.800
don't know if you guys know about this, but it's

1791
01:31:46.000 --> 01:31:48.560
for medical professional. It's a kind of a faithbook for

1792
01:31:48.600 --> 01:31:51.079
medical present. It was already down thirty percent on the

1793
01:31:51.119 --> 01:31:54.319
ear lost another twenty percent at the open on Friday

1794
01:31:54.359 --> 01:31:57.319
after they said, Hey, business is not working out real

1795
01:31:57.399 --> 01:31:58.000
well for us.

1796
01:31:58.119 --> 01:31:59.720
We're getting a new addition into the S and P

1797
01:31:59.800 --> 01:32:04.000
five hundred Yes, coin based cryptos change exchange operator. It's

1798
01:32:04.000 --> 01:32:06.640
going to be replacing Discover Financial Services.

1799
01:32:06.880 --> 01:32:07.119
Yep.

1800
01:32:07.760 --> 01:32:09.239
I think you might get an all time high. I

1801
01:32:09.279 --> 01:32:12.720
had a bitcoin next like this month.

1802
01:32:12.840 --> 01:32:15.359
Oh this month? Yeah, oh boy, that's a bold call.

1803
01:32:15.520 --> 01:32:18.600
Yeah, I think it is. But I'm feeling it seeing it.

1804
01:32:19.359 --> 01:32:21.560
We'll see, because it's kind of it's kind of gone

1805
01:32:21.560 --> 01:32:24.319
flat here in the last a week or so. Yeah,

1806
01:32:24.439 --> 01:32:28.079
I think they're after a big spike. Hire you're feeling,

1807
01:32:28.159 --> 01:32:29.560
You're feeling it, you're feeling love.

1808
01:32:30.000 --> 01:32:32.039
One ten, we'll see.

1809
01:32:32.800 --> 01:32:32.920
Uh.

1810
01:32:33.279 --> 01:32:34.279
One O waits the all time?

1811
01:32:34.479 --> 01:32:36.520
One O waits the all time. I think we're close

1812
01:32:36.720 --> 01:32:39.319
one four on Friday or not didn't close it was

1813
01:32:39.359 --> 01:32:42.399
around one four, Okay, we'll see, we'll see. You know,

1814
01:32:42.520 --> 01:32:44.239
looking at your phone, it's already one ten, are you.

1815
01:32:44.640 --> 01:32:46.800
No, it's not one tent already. But what I do

1816
01:32:46.880 --> 01:32:49.359
want to know is do you remember when we asked

1817
01:32:49.359 --> 01:32:51.000
about the S and P, like we're going to be

1818
01:32:51.000 --> 01:32:52.439
at fifty three or fifty nine.

1819
01:32:53.079 --> 01:32:56.239
We said we were at fifty five, and I asked

1820
01:32:56.239 --> 01:32:59.560
whether we'd be at six or five first, and Sebastian

1821
01:32:59.560 --> 01:33:02.239
and I both said five, and you and Dealing both

1822
01:33:02.319 --> 01:33:05.279
at six, and you and Dylan are right, and Sebastian

1823
01:33:05.319 --> 01:33:15.000
I wrong. I mean you and your point. Yeah, if

1824
01:33:15.039 --> 01:33:17.000
you want a business where you're never wrong, this is

1825
01:33:17.079 --> 01:33:20.199
not it right, this is not the business.

1826
01:33:20.199 --> 01:33:21.399
Well you're never right either.

1827
01:33:21.920 --> 01:33:24.399
Now, well you can't be right every now and then. Well,

1828
01:33:24.399 --> 01:33:27.039
you're never always right, and you're lucky. Like we bought

1829
01:33:27.039 --> 01:33:29.840
Microsoft at the at at a five year low on

1830
01:33:30.439 --> 01:33:33.640
like March of twenty twenty. It's like, okay, that was

1831
01:33:33.720 --> 01:33:37.800
pretty lucky. And that literally was just luck. The Coinbase

1832
01:33:37.880 --> 01:33:41.520
thing was interesting. Coinbase jumped twenty four percent on Tuesday

1833
01:33:41.560 --> 01:33:43.159
on news that they'll be out of the S and

1834
01:33:43.159 --> 01:33:47.439
P like Sebastian said. However, on Thursday, the company confirmed

1835
01:33:47.439 --> 01:33:52.600
an SEC investigation and it dropped seven percent, only to

1836
01:33:52.680 --> 01:33:56.520
rebound seven percent on Friday. So it has been all

1837
01:33:56.520 --> 01:34:00.800
over the place. I think my biggest question with coinbase

1838
01:34:01.640 --> 01:34:07.640
is with the explosion higher in crypto this year, how

1839
01:34:07.720 --> 01:34:10.000
was coinbased down sixteen percent?

1840
01:34:10.840 --> 01:34:15.239
I try to tell this to many people before, about

1841
01:34:15.239 --> 01:34:18.760
how coinbase is not a proxy for the big coin

1842
01:34:18.920 --> 01:34:19.800
or crypto market.

1843
01:34:19.840 --> 01:34:21.119
Okay, still talk to me about it.

1844
01:34:21.199 --> 01:34:23.399
I don't. I think it's as if you're trying to

1845
01:34:23.399 --> 01:34:26.399
say the stock market went up and the New York stock,

1846
01:34:26.479 --> 01:34:28.680
the Nasdaq stock that you can buy on the stock market,

1847
01:34:28.840 --> 01:34:30.239
should have gone up the same amount.

1848
01:34:30.279 --> 01:34:32.439
No, it's the stock market went up and Robinhood didn't.

1849
01:34:32.560 --> 01:34:32.640
No.

1850
01:34:32.960 --> 01:34:37.000
Nasdak is a literal stock, the NASDAK market that we

1851
01:34:37.039 --> 01:34:39.880
all talk about. You can buy the Nasdak. It's a company.

1852
01:34:40.279 --> 01:34:43.520
But associating like it's gonna go one for one? Is

1853
01:34:43.800 --> 01:34:47.079
it a crazy philosophy to think about? It's an exchange

1854
01:34:47.239 --> 01:34:50.000
and then you have the actual underlying asset. An exchange

1855
01:34:50.000 --> 01:34:53.159
just helps you buy an asset. They make they make

1856
01:34:53.159 --> 01:34:55.439
fees on They don't make a lot of money on it. Yeah,

1857
01:34:56.000 --> 01:34:57.760
they make a lot of money because so many people

1858
01:34:57.800 --> 01:35:00.199
are doing it, so all the masses. If we ten

1859
01:35:00.439 --> 01:35:02.800
x the crypto community, yes, coin base is going to benefit.

1860
01:35:03.199 --> 01:35:04.960
But another thing that's gonna be really hard on coin

1861
01:35:05.000 --> 01:35:07.880
base in all cryptos going forward. Crypto exchanges is what

1862
01:35:07.920 --> 01:35:11.119
happens when you run out of bitcoin to buy, then

1863
01:35:11.199 --> 01:35:12.640
you have to ask the miners, and what if the

1864
01:35:12.640 --> 01:35:14.399
miners start charging your premiums?

1865
01:35:14.920 --> 01:35:16.920
I'm correct me if I'm wrong, But if I'm a

1866
01:35:17.279 --> 01:35:21.359
super big bitcoin advocate, I'm probably not owning my bitcoin

1867
01:35:21.439 --> 01:35:23.000
through coin base. I'm probably gonna own it.

1868
01:35:23.000 --> 01:35:25.159
If you're a true bitcoiner, you would not hold your

1869
01:35:25.239 --> 01:35:27.920
bitcoin on exchange because you don't trust them.

1870
01:35:28.159 --> 01:35:31.800
Yeah, I get that, it's yeah, I mean absolutely.

1871
01:35:31.600 --> 01:35:34.279
Look at First Republic. If you're why would you hold

1872
01:35:34.279 --> 01:35:36.239
your cash at a bank if you really don't trust

1873
01:35:36.479 --> 01:35:38.880
other people. That's the whole philosophy of bitcoin is not

1874
01:35:38.920 --> 01:35:41.880
trusting people to hold your government money or trust the

1875
01:35:41.920 --> 01:35:44.520
government to make decisions to not debase your money.

1876
01:35:44.279 --> 01:35:47.239
So it doesn't. So the coin base is not necessarily

1877
01:35:47.560 --> 01:35:49.279
uh shadow crypto.

1878
01:35:49.600 --> 01:35:51.840
No, I would not say that micro strategy though that

1879
01:35:51.880 --> 01:35:53.560
would be the better shadow of bitcoin.

1880
01:35:53.840 --> 01:35:56.000
All right, guys, well, we appreciate you joining this ol

1881
01:35:56.079 --> 01:35:57.920
enough sitting around time to go in the gym now

1882
01:35:58.359 --> 01:36:00.920
and uh, we don't want to be how healthy and

1883
01:36:01.239 --> 01:36:02.720
we all want to be happy and we all want

1884
01:36:02.720 --> 01:36:04.279
to be healthy, including.

1885
01:36:03.920 --> 01:36:05.479
Now we're trying to be.

1886
01:36:05.680 --> 01:36:08.199
Yeah, and a Greenberg Financial where we're really trying to

1887
01:36:08.199 --> 01:36:11.039
be is profitable. See you next week.