May 27, 2025

Market Volatility Amid Tariffs and Fiscal Policy Changes on Memorial Day Weekend

Market Volatility Amid Tariffs and Fiscal Policy Changes on Memorial Day Weekend
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Market Volatility Amid Tariffs and Fiscal Policy Changes on Memorial Day Weekend
Market Volatility Amid Tariffs and Fiscal Policy Changes on Memorial Day Weekend
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Welcome to another episode of the Money Matter Show! On this special Memorial Day weekend edition, hosts Dave Sherwood, Dylan Greenberg, Todd Glick, and Sebastian Borsini dive into another eventful week in the world of finance, markets, and economic policy. This week, the team breaks down some of the hottest headlines influencing the markets: market whiplash from renewed trade tariffs, drama on Capitol Hill, and the far-reaching implications of the new “Big Beautiful Bill” rattling both investors and lawmakers alike.

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Good morning, Welcome to the Money Matter Show. It's like

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Dean said, is that time again? Dean is out of

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the office. But I have Sebastian, I have Todd, I

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

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the Money Matters Show on this Memorial Day weekend edition

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of the show.

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Yep, my markets are going to be closed on Monday.

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Closed on Monday, three day weekend.

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Woo.

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My veteran friends have reminded me over the years that

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this is not Veterans Day. Monday is to honor the

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men and women who gave their lives for this country.

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I honestly don't know how to properly honor those who

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gave their lives for our freedom. But amidst the barbecues

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and the picnics this weekend, I hope we'll all take

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a moment to remember that freedom is not free. We

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thank those people for their service. My goodness, I can't

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even imagine. If you have someone who lost their life

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in the service, we thank you, and we hope we'll

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everyone will spend a little bit of time this weekend

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to honor them. So what's going on, guys?

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Well, the market was going south this week because of

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all the tariff tantrums, more of it, and we had

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some drama on Capitol.

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Hill unbelievable, and tariff tantrums was exactly what's going on,

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And if you look at it day by day, it's

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just it was crazy. You know. We had a really

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strong week last week. China and the US paused their

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tariffs for ninety days and we figured, okay, well maybe

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that's the end of it. And the market really liked

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that and jumped up what five and a half percent thereabouts,

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And then on Monday morning we walked in and learned

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over the weekend the Moodies downgraded US debt and I

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think the first question that investors ask themselves is where have.

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You been right?

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You know, first time since nineteen seventeen? Are you kidding me?

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Well?

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And they put it on in twenty twenty three, they

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put a negative watch on this. It's just slow moving, right.

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Dylan, nineteen seventeen. I mean, we went through the Great Depression,

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we went through World War two, Vietnam, the banking crisis,

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the tech mailtdowns, and this is the first time.

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I mean, I think Standard and Poors downgraded the debt

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in twenty eleven, the great Great recession, and then we

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fitched it in twenty twenty three and moodies just didn't move.

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And that's ultimately why the news was kind of overblown.

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You know, the market did soll off in the aftermarket

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on Friday once that news came off, But then Monday,

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what did we do, We'd just bounced right back up.

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Well, to be fair to the analysts too, I mean,

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if you look at the old time debt, we've never

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been this and debt in comparison to the GDP. So

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from their standpoint, even though we had bad economic times

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during the depression other times in this country, we also

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never had this level of debt. So what happens if

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we do go through a bad economic time with this

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level of debt, what happens?

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I think you could go back to the end of

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World War Two, and I think our debt to GDP

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then was higher than it is now. But that was

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the only time.

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Yeah, and then the debt increase over one thousand percent

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during from nineteen thirty three to nineteen forty five.

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Okay, right, crazy, it's crazy. I mean if this were

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a corporation, if the United States were a corporation, you'd

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absolutely be downgrading the dead right. I mean, the last

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twelve months, we've had four point nine trillion in income,

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six point seven trillion inexpenses. Four point nine income, six

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point seven inexpensive. How long you think your house would

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run if you had it that way? I mean, somebody

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has got to do something. And we're all excited about

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about Trump because finally somebody is doing something. But then

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here comes the big beautiful bill.

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Well, here's blowing the doors off. And here's the historical context.

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Our death to GDP during the World War two peak

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nineteen forty six, one hundred and six percent. Now at

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the end of twenty four we're at one hundred and

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twenty four percent.

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Okay, so we're much higher than yes, I would have

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thought it was.

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And the projections with what we're kind of talking about

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is that we're headed to about one hundred and thirty

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four percent over the next decade. And this one big

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beautiful bill, which it's really called that for those of

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whom actually called that, it is actually called that one.

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It's it's interesting because there is projections anywhere from three

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to five trillion of it being added to the deficit.

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Now that number is not including the offset of what

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Trump's trying to do as well, like cutting dose, trying

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to bring in revenue through tariffs. So what the net

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effect is is going to determine on also our GDP

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growth because Besset, the Secretary, said, if we get one

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percent and Noles avoids all the extra spending we're doing

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in this bill, according to him, and if we get

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he thinks projecting three percent, which he thinks is realistic,

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will be just fine and the bill pay for itself. Thoughts.

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My thoughts are, I've seen this supply side economic story

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before and it has not worked one time, not one

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single time. We've got to stop spending. We've got to

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raise taxes something right and boy, you say raised taxes there,

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but head starts spinning.

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Right point, How are we going to pay for this debt.

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They've done such a horrible job.

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Or change the tax code on corporations if you want

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them to pay taxes so bad?

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Oh, Dean said last week, another one and a half

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percent from millionaires where people have taxable income over a million. Okay,

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well that's an idea, you know, that's part of it.

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They never mind they pay ninety percent of the taxes already.

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And the debt that we already got on ourselves into

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is not going to get even more costly if we

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can't get that ten year down. And that's what we

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saw kind of way on markets as well throughout this

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entire week, is higher interest rates. That bill is considered

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a little bit fiscally irresponsible. We didn't just see that

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in rates. We also saw that in golden bitcoin this week.

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We'll talk about that later, but there is some level

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of fear about this fiscal irresponsibility.

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Yeah, So I think that became very clear on Wednesday

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when the ten years started to approach five percent again,

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which is a kind of a magic line in the sand,

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if you will.

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What do we finish the weekend?

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We're above that for six the tenure was four let's see,

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the ten year was four or five to one, four

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or five to one, but up from four to three

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to two last week. So that's pretty good up in

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one week.

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It's still down a bit for the year.

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Yeah.

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Yeah, thirty years the one that's up. Thirty years over

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five five, it's over five. It dropped after it's high

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from earlier this we or earlier last week. We got

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to like five point one to two, but it's still

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about three percent.

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For the year.

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All the trades are back to the sevens.

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Yeah, but the main one that economist everybody follows is

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a tenure because that's what auto loans and all that

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stuff is.

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Yeah, so watch the ten year if you want to

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know how things are going, Watch the ten year. You

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want to see the coming down if at all possible.

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We're keep in mind, this is the thing that makes

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it so difficult when you look at the budget and

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the budget deficit, about how you're going to get this

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under control. Forty percent. Now, we spent six point seven trillion,

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which was which was I'm sorry, we spent yeah, six

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point seven trillion, which was one point eight trillion more

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than we took in, trillion more than we took in.

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Of that six point seven you're saying, well, how do

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we cut that down? How do we cut down that spending?

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Of that six point seven, forty percent of it is

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social security and interest rates forty percent. You're not going

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to get do anything with social security, certainly, So you've

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got to get the interest rates down. And that's why

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Trump keeps yelling for lower interest rates because he can

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see that's one of the Yeah, you can't control the

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market though you cannot control the market.

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Yea.

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And again, this bill passed the House, but there's a

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lot of senators. It has to go through the Senate now,

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and there's a lot of senators that said they need

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to do a lot of changes to this bill today

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even say yes, So this whole bill could change a

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lot more in the next month or so before the

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Senate actually passes it.

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And let's talk about the bill though. I mean, there's

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a lot of things that were in it that most

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people won't know until they listen to the show. So

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one of the things is that's kind of interesting is

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the MAGA accounts. There's a provision that maybe not like

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Dylan says, some of these might get taken out, but

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for now, this is what actually passed. The MAGA accounts

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would be one thousand dollars for everyone born between the

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start of twenty twenty five to the end of President

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Trump's term in twenty eight and every kid gets a

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thousand dollars. And it's trying to help for financial security.

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Well because we have so much extra money laying around.

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Interesting idea, right, yeah, it won't.

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Spend less than they do that, I mean, it's a

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good idea. But then it kind of goes against it.

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They're raising they're raising tax credits for kids, so if

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you have you're gonna get more money for that. They're

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going to raise the standard deductions for family members. They're

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trying to make permanent the twenty seventeen tax cuts so

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we never have that increase in the tax code as well.

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They're also adding a senior deduction bonus for four thousand

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dollars for individuals and eight thousand married filin.

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Jointly those five hundred bucks. It was about five hundred

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bucks they think on the actual savings.

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On taxes for the senior deduction.

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Yeah, because that was like their way of doing the

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Social Security thing. They couldn't get it in the non

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tax because you.

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Know, they said, no, are you kidding me? If no,

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you can't, you can't. You can't not tax Social Security. Man,

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I love that.

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I get well, you know that's what they A lot

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of people thought was gonna happen. Oh, I mean a

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lot of people thought that Trumps was going to say, like,

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no tax Sole Security. I'm gonna get that in and

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I mean this is the bone they got. Oh my goodness, right,

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So that was that was another thing that took place,

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but there was also a lot of medicaid talk. If

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you if people were watching the drama leading up to

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the passage bill, that was one of the big things.

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And the decaid work requirements as well as food stamp requirements,

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I think are very incentivizing to get people off the system.

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And it's basically saying work requirements, meaning that if you

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are an able body person between the age of eighteen

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and sixty four, So we're not talking miners, we're not

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talking elderly people, but if you're an able body person

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living off the system, you have to prove that you're

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either trying to like you're either working a certain amount

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of hours or you're at least doing community service, which

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to me makes sense because if you are an able

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body person, if you're living off the system, at least

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give back to the system that you're taking off from.

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And these are able body people who have no dependents

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and they can it's at least eighty hours a.

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Month you gotta work, so twenty hours a wee.

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Part time, and then other than that, yeah, ors community

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service can do.

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And I think it incentivizes people who are just trying

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to play the game and live off the system. Who like,

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as you said, Dave, how do we make this one

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point five trillion deficit lower. That's the way to do it,

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you know, And that's part of what Doge was and

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is doing still is trying to cut out that fat

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and INCENTI devising the actual the whole society to do

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their job right.

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And then on the part on the other end, incentsifies

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a childbirth that we have enough people to pay for

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social security later on.

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Yeah, that's something we don't talk about that. Declining birth

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rates is something that's pretty prevalent in developing countries. We

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see it a lot in Asia right now. But if

239
00:10:18.879 --> 00:10:20.600
we have that, that's a really bad thing for not

240
00:10:20.600 --> 00:10:22.879
only our social security system, but our labor force as well.

241
00:10:23.000 --> 00:10:25.000
All of a sudden, you as much as you don't

242
00:10:25.039 --> 00:10:26.919
like immigrants, if you're not having babies, you're gonna have

243
00:10:26.960 --> 00:10:27.879
to have a lot more immigrants.

244
00:10:27.919 --> 00:10:30.960
Yeah, I think that for such a push pull conversation.

245
00:10:31.080 --> 00:10:33.240
We've been talking about it all week with the incentive

246
00:10:33.600 --> 00:10:34.960
incentivizing childbirth.

247
00:10:35.120 --> 00:10:36.639
The problem with it is most of the time the

248
00:10:36.679 --> 00:10:39.960
people who are benefiting the most off of these credits

249
00:10:39.960 --> 00:10:43.120
are the lower socio economic people that sometimes just have

250
00:10:43.240 --> 00:10:46.240
kids to get more benefits from the system, right, and

251
00:10:46.440 --> 00:10:49.279
that's not always the best thing for the overall country.

252
00:10:49.759 --> 00:10:52.320
There are there are two countries, speaking of Asia and

253
00:10:52.399 --> 00:10:54.000
you just brought it up, there are two countries that

254
00:10:54.120 --> 00:10:57.360
have a higher debt to GDP ratio than the United States.

255
00:10:58.080 --> 00:10:59.679
And you're not gonna know who. You're not gonna one

256
00:10:59.679 --> 00:11:00.600
of them, pretty odous.

257
00:11:00.600 --> 00:11:01.360
It should be Japan.

258
00:11:01.519 --> 00:11:03.279
Japan. On what's the other one?

259
00:11:03.399 --> 00:11:03.639
China?

260
00:11:03.720 --> 00:11:06.480
Good job doing it's amazing. And you always think of

261
00:11:06.600 --> 00:11:09.879
China as just you a washing cash and everything's looking

262
00:11:09.879 --> 00:11:11.320
good if you want to.

263
00:11:11.080 --> 00:11:13.399
Portray it, right, that's how they portrayed to everybody.

264
00:11:13.399 --> 00:11:14.639
It's not true that you know that. If you look

265
00:11:14.639 --> 00:11:17.039
at videos that you see just about the day, like

266
00:11:17.200 --> 00:11:18.919
in the average, it seems like it's not as good

267
00:11:18.919 --> 00:11:19.799
as they always say it is.

268
00:11:19.799 --> 00:11:22.000
And if people want a history lesson of what our

269
00:11:22.039 --> 00:11:25.039
country could go into, it is would be similar to

270
00:11:25.080 --> 00:11:28.279
what Japan went into the nineteen nineties, where they inflated

271
00:11:28.360 --> 00:11:30.080
so much leading up to that and then they just

272
00:11:30.120 --> 00:11:34.759
had a dead decade of growth and nothing increased. There

273
00:11:34.840 --> 00:11:35.679
had really low.

274
00:11:35.519 --> 00:11:37.360
Interest rates, negative interest rates.

275
00:11:37.159 --> 00:11:40.200
They had no actual growth in their economy, so that's

276
00:11:40.240 --> 00:11:42.000
something we want to avoid. One thing that we have

277
00:11:42.120 --> 00:11:43.919
in our back pocket that no other country has is

278
00:11:43.919 --> 00:11:45.960
that money printer. So as much as yeah, you're right,

279
00:11:46.039 --> 00:11:48.360
we had a deficit and you're saying, how could a

280
00:11:48.360 --> 00:11:50.559
household do this, well, the household doesn't have a money printer.

281
00:11:50.600 --> 00:11:52.960
So that's why the bonds are still double.

282
00:11:52.799 --> 00:11:53.759
A rating right.

283
00:11:53.879 --> 00:11:58.120
Well, And in fairness, Moody's downgraded the US debt by

284
00:11:58.159 --> 00:12:01.360
a notch they have moody Has, if you know their system,

285
00:12:01.600 --> 00:12:05.759
they have seven different levels of A rating seven, so

286
00:12:05.840 --> 00:12:08.080
it went from the very top A rated to the

287
00:12:08.120 --> 00:12:11.799
second A rated. I mean, still higher than almost any

288
00:12:11.840 --> 00:12:16.840
corporation up there with the finest corporation, strongest corporation in

289
00:12:16.879 --> 00:12:19.080
the country and above them even what's the.

290
00:12:19.039 --> 00:12:22.240
Idea that they've finally got downgraded by all three by

291
00:12:22.279 --> 00:12:24.879
one Moodies. But I mean, like you said, movies hasn't

292
00:12:24.879 --> 00:12:27.720
done since seventeen. I mean, it got through World War

293
00:12:27.720 --> 00:12:29.080
two and depression and everything.

294
00:12:29.159 --> 00:12:31.399
So many things that happened. I thought it was interesting

295
00:12:31.440 --> 00:12:34.120
to see investors' reaction to it, and I saw that

296
00:12:34.240 --> 00:12:36.120
on Sunday, and oh man, this is not going to

297
00:12:36.159 --> 00:12:39.279
be pretty. How did investors react to that news about

298
00:12:39.279 --> 00:12:44.039
the Moody's downgrade. Individual investors bought four point one billion

299
00:12:44.120 --> 00:12:47.360
dollars worth of stock on Monday in the first three hours,

300
00:12:47.720 --> 00:12:51.039
which is the largest amount of stock buying in history

301
00:12:51.080 --> 00:12:54.759
for that three hours. That's how they reacted. Scared to

302
00:12:54.799 --> 00:12:57.080
death about the you know, they yawn.

303
00:12:57.360 --> 00:12:59.519
Before we go any further, I'm going to do the disclaimer.

304
00:12:59.600 --> 00:13:01.639
The show's sponsored by the Greenberg Financial Group and you

305
00:13:01.639 --> 00:13:04.799
can listen on seven ninety KNST or iHeartRadio. The show

306
00:13:04.799 --> 00:13:08.120
discusses different investment products and strategies. Every product and strategy

307
00:13:08.159 --> 00:13:10.600
have some type of an inherent risk, and we strongly

308
00:13:10.720 --> 00:13:13.480
encourage our listeners to properly understand the risk to determine

309
00:13:13.480 --> 00:13:16.159
whether to buy, sell, or hold. Show has been on

310
00:13:16.200 --> 00:13:18.320
air for over thirty years. The Greenbrik Financial Group is

311
00:13:18.360 --> 00:13:22.000
registered with the SEC. Visit our website at Greenberg Financial

312
00:13:22.000 --> 00:13:24.200
dot com for some more information. If you ever want

313
00:13:24.200 --> 00:13:26.279
a question answered on the show, you could reach us

314
00:13:26.279 --> 00:13:28.519
at contact at Greenberg Financial dot com.

315
00:13:28.559 --> 00:13:29.679
That was well done.

316
00:13:29.919 --> 00:13:31.919
We only got halfway through the week because then on

317
00:13:32.279 --> 00:13:34.559
you know, Thursday and Friday, that's where the tariff talk

318
00:13:34.639 --> 00:13:35.639
really started to pick up.

319
00:13:35.720 --> 00:13:38.120
Thursday was pretty quiet, day though, Thursday down much. Then

320
00:13:38.159 --> 00:13:40.679
Friday morning we woke up to this fifty percent tax

321
00:13:40.759 --> 00:13:41.600
on the EU.

322
00:13:41.519 --> 00:13:43.519
And then twenty five percent, right, he.

323
00:13:43.519 --> 00:13:46.320
Threatened, So I mean on June first, No, it's effective

324
00:13:46.360 --> 00:13:47.919
June first. He said he's going to do it effective

325
00:13:47.960 --> 00:13:50.519
JUNI first, So he actually implemented, and.

326
00:13:50.480 --> 00:13:52.399
I did say later later in the day he did say,

327
00:13:52.399 --> 00:13:54.960
he's like, there's no negotiation. It's done.

328
00:13:55.960 --> 00:13:59.000
Yeah, yeah, you know, obviously they've been flow coming to

329
00:13:59.039 --> 00:14:01.399
the table and I worked with your right, it worked

330
00:14:01.399 --> 00:14:01.840
with China.

331
00:14:01.960 --> 00:14:04.679
Well, I remember when the US and UK made the deal,

332
00:14:05.039 --> 00:14:07.559
EU is going to the World Trade Organization saying this

333
00:14:07.639 --> 00:14:09.799
isn't right, you can't put tariffs on it. So the

334
00:14:09.879 --> 00:14:12.120
EU is nowhere close to making a deal at that time,

335
00:14:12.159 --> 00:14:14.360
so he says, screw it, I'm gonna cut fifty percent.

336
00:14:14.480 --> 00:14:14.879
Terrifying.

337
00:14:15.000 --> 00:14:16.600
Yeah, you don't want it to talk, Okay, let's see

338
00:14:16.600 --> 00:14:17.200
how you like this.

339
00:14:17.360 --> 00:14:20.480
And then this whole thing with Apple too, same announcement time,

340
00:14:20.480 --> 00:14:22.320
he says he's gonna put twenty five percent tariff on

341
00:14:22.399 --> 00:14:25.360
Apple phone iPhones that are made outside the US.

342
00:14:25.440 --> 00:14:27.000
He doesn't care what country.

343
00:14:27.200 --> 00:14:29.639
And Samsung, well, and Samsung.

344
00:14:29.200 --> 00:14:31.320
With Apple is a big one. I mean it's the iPhone.

345
00:14:31.360 --> 00:14:33.600
It was based in the US. He wants the manufacturing

346
00:14:33.600 --> 00:14:35.679
and be in the US. Apple's currently building a one

347
00:14:35.679 --> 00:14:37.919
point five billion dollar factory in India.

348
00:14:38.399 --> 00:14:39.600
Yeah, what do you do?

349
00:14:39.720 --> 00:14:40.240
Just stop that?

350
00:14:40.360 --> 00:14:42.919
No, So, I mean ultimately the business, they're telling them

351
00:14:42.919 --> 00:14:45.399
that it's just better to eat the twenty five percent tariff.

352
00:14:45.759 --> 00:14:48.480
Pay for the tariff. It's cheaper, it's easier, it's gonna

353
00:14:48.519 --> 00:14:51.519
make everything fine. You just eat it, right, which, in

354
00:14:51.559 --> 00:14:53.879
a sense, okay, then I mean kind of get both.

355
00:14:53.879 --> 00:14:56.639
The corporation's paying more money towards the tariff's iPhones won't

356
00:14:56.639 --> 00:14:57.600
go up kind.

357
00:14:57.440 --> 00:14:59.639
Of, but then growth rates should go down for Apple.

358
00:14:59.679 --> 00:15:02.039
You it's say, right, because in the margin they're getting

359
00:15:02.080 --> 00:15:03.919
each iPhone, Selle is going to get less.

360
00:15:03.919 --> 00:15:06.639
Well you, depending on that, currently have a forty profit

361
00:15:06.720 --> 00:15:08.360
margin on the iPhone, So I don't know how much that's.

362
00:15:08.279 --> 00:15:11.159
Going to drop, right, I know what what what's the

363
00:15:11.200 --> 00:15:14.440
How does the triff impact Samsung? I didn't well this.

364
00:15:14.440 --> 00:15:17.919
Is a similar thing Samsung. Yeah, and then yeah, I

365
00:15:17.919 --> 00:15:20.559
mean Apple was down around over seven percent on the week.

366
00:15:20.679 --> 00:15:23.360
It's don't if Apple eats the cost, how is that

367
00:15:23.440 --> 00:15:26.320
gonna how doesn't that raise the price to the iPhones

368
00:15:26.399 --> 00:15:27.279
to the consumer.

369
00:15:26.960 --> 00:15:30.039
Not as much as building it in the US is

370
00:15:30.080 --> 00:15:32.440
what the got is what they're saying. It's cheaper to

371
00:15:32.480 --> 00:15:35.159
do that than try and build the infrastructure in the US,

372
00:15:35.679 --> 00:15:37.840
pay the workers in the US, because then iPhones are

373
00:15:37.840 --> 00:15:39.840
going to be doubling in that case. So if you

374
00:15:40.679 --> 00:15:42.320
put it it might be two or three hundred dollars

375
00:15:42.320 --> 00:15:43.159
more as what I read.

376
00:15:43.600 --> 00:15:47.279
Yeah, it's you don't often have this much weight on

377
00:15:47.320 --> 00:15:52.279
a company as successful as Apple. There's this many different things.

378
00:15:52.919 --> 00:15:55.600
I mean, they're just it's coming from from the tariffs.

379
00:15:55.600 --> 00:15:59.960
That's coming from their former design executive Johnny I who

380
00:16:00.159 --> 00:16:04.080
joined open Ai. Welly bought by open Yeah, got yeah,

381
00:16:04.080 --> 00:16:05.879
I got bought by his company.

382
00:16:06.080 --> 00:16:07.600
Who he's forgot about that.

383
00:16:07.679 --> 00:16:10.879
Yeah. He's kind of thought of as the the face

384
00:16:10.960 --> 00:16:13.799
behind the iPhone, you know, they kind of the creative genius.

385
00:16:13.799 --> 00:16:16.320
And he broke off from Apple in twenty nineteen, I believe,

386
00:16:16.440 --> 00:16:18.480
was formed his own company and that was bought by

387
00:16:18.480 --> 00:16:20.200
open Ai. Now they're saying, well, he's going to get

388
00:16:20.200 --> 00:16:21.840
together to the open Ai. They're going to come out with

389
00:16:21.840 --> 00:16:24.559
all these crazy AI devices. They're not going to need

390
00:16:24.600 --> 00:16:27.519
your iPhone anymore, you know, and it's just and then

391
00:16:27.559 --> 00:16:29.759
the tariffs, it's just this one thing after.

392
00:16:29.639 --> 00:16:32.159
Not well, Apple's getting punished for being a hardware company,

393
00:16:32.360 --> 00:16:35.919
and so like Meta Google, I mean obviously not insulated

394
00:16:35.919 --> 00:16:38.559
from tarif because it's still going to be impacted by advertisers.

395
00:16:38.559 --> 00:16:41.919
But they're not like as much as building something like Tesla.

396
00:16:41.919 --> 00:16:44.200
Obviously we could see how tariffs could or could not

397
00:16:44.240 --> 00:16:46.679
impact them. They have hardware type of stuff. Netflix is

398
00:16:47.200 --> 00:16:50.159
is completely digital, right, So some of these big Max

399
00:16:50.240 --> 00:16:54.440
seven companies are just software companies, whereas we're talking a

400
00:16:54.440 --> 00:16:58.039
lot this week about Meta turning into potentially a hardware company.

401
00:16:58.080 --> 00:17:01.919
These new ray band Meta glasses are really fascinating and

402
00:17:01.960 --> 00:17:04.519
where they could be headed. And I think Apple kind

403
00:17:04.559 --> 00:17:06.640
of caught wind of it because later in the week

404
00:17:07.720 --> 00:17:11.680
they actually dismissed the project of having a camera in

405
00:17:11.720 --> 00:17:14.599
their Apple Watch that was going to be their new product. Instead,

406
00:17:14.599 --> 00:17:17.480
they're gonna work on coming out with smart glasses AI

407
00:17:17.480 --> 00:17:20.720
glasses in twenty twenty six, and so to me, that

408
00:17:20.720 --> 00:17:22.119
makes a lot more sense. We know how bad the

409
00:17:22.200 --> 00:17:25.319
vision pros did not perform well for the company.

410
00:17:25.400 --> 00:17:28.440
They say how much the glasses were gonna cost No,

411
00:17:28.519 --> 00:17:29.839
I did not know such it. Yeah, because the vision

412
00:17:29.839 --> 00:17:31.799
pros I mean those are thirty four hundred dollars give

413
00:17:31.880 --> 00:17:34.720
or take. And the Metquest glasses you could buy go

414
00:17:34.759 --> 00:17:36.680
and buy for what two hundred and fifty three hundred dollars.

415
00:17:36.720 --> 00:17:38.240
Well, I think about raid bands right, when you buy

416
00:17:38.319 --> 00:17:39.720
ray bands, it would be probably two hundred two and

417
00:17:39.799 --> 00:17:42.119
fift anyways, So now I get AI capability in.

418
00:17:42.079 --> 00:17:42.880
It within it.

419
00:17:42.880 --> 00:17:45.480
It's it's it's like you know how those shock headphones

420
00:17:45.480 --> 00:17:49.480
are where it goes through your sole. Yeah, phones, the

421
00:17:49.480 --> 00:17:51.720
glasses do the same thing I call bone phones. The

422
00:17:51.759 --> 00:17:54.039
glasses will do the same thing, get on your obital bone.

423
00:17:54.160 --> 00:17:57.160
I guess the Apple glasses would be about the same price. Right.

424
00:17:57.839 --> 00:18:00.640
But if you think about it, like eventually, if you

425
00:18:00.839 --> 00:18:03.559
have incorporated your phone into that, yeah, you have your

426
00:18:03.559 --> 00:18:05.599
whole phone. I can call everyone, I can see everything

427
00:18:05.599 --> 00:18:07.039
that I have on my phone in my glasses, or

428
00:18:07.039 --> 00:18:09.279
maybe it turns into a cont whatever it may be

429
00:18:09.799 --> 00:18:11.759
in the next five to ten years. That's what Apple

430
00:18:11.799 --> 00:18:14.359
really has to compete with, especially with companies like Meta.

431
00:18:14.519 --> 00:18:18.480
Meta has three point four daily active users on all

432
00:18:18.519 --> 00:18:23.480
their platforms. When you combine What's App, Meta, Instagram, Apple

433
00:18:23.559 --> 00:18:26.279
really has to be careful, especially with open Ai getting

434
00:18:26.319 --> 00:18:29.559
steam as well, that they don't fall behind the hardware.

435
00:18:29.839 --> 00:18:31.960
So if you if you had Apple stock now it's

436
00:18:32.519 --> 00:18:36.880
coming back down towards about five six months low, what

437
00:18:36.920 --> 00:18:39.119
would you do with Apple? If you had Apple, would

438
00:18:39.119 --> 00:18:40.559
you sell it?

439
00:18:40.559 --> 00:18:43.279
Depends on my position size. I'm probably holding it. I mean,

440
00:18:43.359 --> 00:18:44.279
I believe in Apple is.

441
00:18:44.240 --> 00:18:46.920
A compromise position. You got three percent, you're not.

442
00:18:46.799 --> 00:18:50.680
Selling drop from this news for the year.

443
00:18:50.680 --> 00:18:56.599
I would not buy it, yes, kind of like attractive

444
00:18:56.720 --> 00:18:57.319
enough made.

445
00:18:57.160 --> 00:18:58.960
A decision on what they want to do with the terrors.

446
00:18:58.960 --> 00:19:00.599
If they say screw, we're going to everything in the

447
00:19:00.680 --> 00:19:02.960
US whatever, they haven't made a decision. I wouldn't be

448
00:19:02.960 --> 00:19:04.880
too rash on buying it. If I have a position,

449
00:19:04.920 --> 00:19:06.039
I'm going to just let it stay.

450
00:19:06.440 --> 00:19:08.559
It could obviously change, but I think that they're definitely

451
00:19:08.559 --> 00:19:10.960
the weakest company in the bag seven mac seven.

452
00:19:12.839 --> 00:19:15.119
Yeah, yeah, And I agree, which is tough because you

453
00:19:15.119 --> 00:19:18.119
throw Tesla in there. I have right, right, right, Tesla's

454
00:19:18.160 --> 00:19:20.480
business model in terms of like what they're warranting on

455
00:19:20.519 --> 00:19:21.720
their price to earnings is.

456
00:19:21.640 --> 00:19:24.799
Completely Tesla is anomaly, you know.

457
00:19:24.880 --> 00:19:27.519
Yeah, Tesla is a hard one to get a handle

458
00:19:27.559 --> 00:19:30.720
on because it is one hundred and seventy two times

459
00:19:30.759 --> 00:19:33.000
earning and their business is declining.

460
00:19:33.319 --> 00:19:35.039
Well, you see the interview that they had with a

461
00:19:35.119 --> 00:19:37.359
Musk on CNBC this week. Did you catch any of it?

462
00:19:37.880 --> 00:19:38.200
No?

463
00:19:38.400 --> 00:19:39.319
Well, I was.

464
00:19:39.440 --> 00:19:41.400
He used to always say this too, about his stock

465
00:19:41.480 --> 00:19:43.559
being way too costly and no one should buy it,

466
00:19:43.799 --> 00:19:45.640
and there's videos him saying this, like I was like,

467
00:19:45.680 --> 00:19:48.720
I don't know, buy this. But this one was interesting

468
00:19:48.720 --> 00:19:50.680
because this in this interview he finally did say, yeah,

469
00:19:50.680 --> 00:19:52.200
I think it's a it's a good time to buy.

470
00:19:52.240 --> 00:19:55.240
He thinks optimist robots are going to kill it for

471
00:19:55.359 --> 00:19:59.039
the company. He thinks the robot tax. He's still going

472
00:19:59.079 --> 00:20:01.279
to be coming online I think by the end of

473
00:20:01.359 --> 00:20:02.440
tune or something like that.

474
00:20:02.599 --> 00:20:05.000
And that's how Tesla will grow with the robots and

475
00:20:05.039 --> 00:20:07.519
the robotext. He's not gonna grow with the regular y

476
00:20:07.599 --> 00:20:08.240
model anymore.

477
00:20:08.319 --> 00:20:10.319
Yah. You wouldn't think so, you wouldn't think. There certainly

478
00:20:10.400 --> 00:20:13.200
is no evidence that it's growing. There's a market share everywhere.

479
00:20:13.200 --> 00:20:14.960
I think that because you're dating wrong with this, just

480
00:20:14.960 --> 00:20:17.119
because it's a competition and saturated.

481
00:20:17.319 --> 00:20:18.680
I think that I have I think that I have

482
00:20:18.720 --> 00:20:20.839
a bias towards it, just because I went to test

483
00:20:20.920 --> 00:20:25.680
Drova Tesla recently Tesla but no, okay, I did the

484
00:20:25.680 --> 00:20:28.599
self driving feature right, and I drove for about five miles,

485
00:20:28.720 --> 00:20:30.480
didn't even touch the wheel once, And it just got

486
00:20:30.559 --> 00:20:32.400
me thinking, there's no reason that humans need to drive

487
00:20:32.440 --> 00:20:35.519
at this point. The Elon is onto something with this

488
00:20:35.599 --> 00:20:38.559
autonomous driving at some points, you know, I don't know

489
00:20:38.599 --> 00:20:41.319
how many years from now, we don't need to drive.

490
00:20:41.480 --> 00:20:43.039
There's no reason for it. It's safer.

491
00:20:43.519 --> 00:20:45.759
My my wife, I take my life's car and for

492
00:20:45.839 --> 00:20:48.319
service last week, and so she had my Tesla Model

493
00:20:48.359 --> 00:20:51.960
Why for a day and that night she said, we

494
00:20:52.000 --> 00:20:54.240
can solve all the world's problems if everybody would just

495
00:20:54.240 --> 00:20:56.480
have a Tesla.

496
00:20:57.079 --> 00:21:01.960
I don't know, the freaking uh program breaks and you

497
00:21:02.000 --> 00:21:03.680
go one hundred miles an hour in to something, right,

498
00:21:03.720 --> 00:21:04.279
that would.

499
00:21:04.599 --> 00:21:06.640
That's why I'm not I'm not trusting them just yet.

500
00:21:06.720 --> 00:21:09.559
But then you start to think about, you know, if

501
00:21:09.559 --> 00:21:11.359
we get to that point in society that we're not

502
00:21:11.480 --> 00:21:14.880
driving and we're depending on artificial intelligence to do so,

503
00:21:15.680 --> 00:21:17.559
do insurance cost plummet?

504
00:21:18.359 --> 00:21:20.480
Likely you would think, yeah, you would think it could

505
00:21:20.480 --> 00:21:23.920
be off youer accidents in theory.

506
00:21:23.559 --> 00:21:26.680
And that doesn't mean that the insurance companies go broke either, right.

507
00:21:26.599 --> 00:21:28.559
Yeah, And I think also the problem with the whole

508
00:21:28.599 --> 00:21:31.480
idea of technology sounds really amazing because I'm with you,

509
00:21:31.759 --> 00:21:34.720
it's definitely better for humanity net but the problem is

510
00:21:34.720 --> 00:21:38.119
also someone's going to control that network, and so someone

511
00:21:38.240 --> 00:21:40.160
if if they get mad at you, like if a

512
00:21:40.200 --> 00:21:42.799
government's like, yeah, this guy, we need to offer them,

513
00:21:43.000 --> 00:21:45.119
right and they just like Dylan says, throw your car

514
00:21:45.119 --> 00:21:47.319
into a walk two hundred miles an hour and oops

515
00:21:47.359 --> 00:21:48.240
it was a malfunction.

516
00:21:48.359 --> 00:21:50.039
Yeah, I mean we're gonna say, right, we're gonna have

517
00:21:50.079 --> 00:21:51.440
to keep investing in cybersecurity.

518
00:21:51.440 --> 00:21:54.400
It's like this. It's like this, It's like the CBDC

519
00:21:54.720 --> 00:21:56.880
Central Bank digital currency. It gives you a lot more

520
00:21:56.880 --> 00:22:00.559
capabilities to help, but on the other side of that

521
00:22:00.640 --> 00:22:01.440
gives them a lot more.

522
00:22:01.519 --> 00:22:05.119
You know. Whenever my wife some bizarre scenario like you

523
00:22:05.160 --> 00:22:08.799
just mentioned, I always use the old Seinfelder that's the

524
00:22:08.839 --> 00:22:11.880
show because every time something word will come up, that's

525
00:22:11.880 --> 00:22:14.440
the show. And every time she comes up with something,

526
00:22:14.440 --> 00:22:17.559
we're like and Nick Todd and Dylan going to have

527
00:22:17.759 --> 00:22:20.960
somebody take over your car. You don't run, you don't

528
00:22:20.960 --> 00:22:23.119
think they can do that into the wall. That's a

529
00:22:23.160 --> 00:22:24.319
show they can do it.

530
00:22:24.359 --> 00:22:26.119
You have that in China where they can do it.

531
00:22:26.119 --> 00:22:28.880
They're like you're saying, for the digital currency stuff, your

532
00:22:28.920 --> 00:22:31.200
bank accounts is all through the government. So you get

533
00:22:31.200 --> 00:22:33.160
caught jaywalking, they have your face on it. They just

534
00:22:33.200 --> 00:22:34.799
take the money out for and find you.

535
00:22:34.880 --> 00:22:37.319
And we're talking before about about why you see when

536
00:22:37.359 --> 00:22:39.559
you see pictures of Asia, you see masks.

537
00:22:40.440 --> 00:22:42.200
Yeah, that's why because they.

538
00:22:42.680 --> 00:22:47.200
Have that why everywhere where Japan, though, they do wear

539
00:22:47.279 --> 00:22:48.519
masks like that, and they don't have the same.

540
00:22:48.480 --> 00:22:51.319
Jokes about facial recognition. A lot of it's about facial recognition.

541
00:22:51.440 --> 00:22:54.000
It's also cultural they do have it is cultural.

542
00:22:54.160 --> 00:22:56.359
They is cultural, But I wonder if it's cultural because

543
00:22:56.400 --> 00:22:57.359
of facial recognition.

544
00:22:58.440 --> 00:22:59.920
Yeah, it would make sense.

545
00:23:00.400 --> 00:23:02.559
I think Japan we're doing it way before and like

546
00:23:02.599 --> 00:23:05.279
the like once the in the twenty tens.

547
00:23:05.359 --> 00:23:08.359
But my only experience was autonomous driving was about a

548
00:23:08.440 --> 00:23:12.400
year and a half ago. Tesla gave free self driving

549
00:23:12.440 --> 00:23:14.640
for a month. It cost one hundred and ninety nine

550
00:23:14.640 --> 00:23:18.200
dollars a month back then a month, but it's free

551
00:23:18.240 --> 00:23:20.559
for most of the competitors, so it won't be along

552
00:23:20.640 --> 00:23:22.680
tell us to be free, but one hundred nine nine

553
00:23:22.720 --> 00:23:24.720
dollars a month. They gave me a thirty day free trial.

554
00:23:25.000 --> 00:23:26.759
So I'm going down River Road and you know, I

555
00:23:26.839 --> 00:23:29.000
have it on. So it gets to a curve in

556
00:23:29.039 --> 00:23:31.640
the road and all of a sudden, take control of

557
00:23:31.640 --> 00:23:35.960
the wheel immediately. Really, I thought you were driving. If

558
00:23:36.000 --> 00:23:37.880
you if you're not going to drive and you're gonna

559
00:23:37.880 --> 00:23:40.119
have me drive when there's a problem, then I'm just

560
00:23:40.160 --> 00:23:41.200
gonna drive all the time.

561
00:23:41.440 --> 00:23:43.359
Well, they want to blame the liability on you if.

562
00:23:43.240 --> 00:23:45.079
You're the one, you know, by car's ability to turn,

563
00:23:45.119 --> 00:23:46.039
it could do some crazy.

564
00:23:46.680 --> 00:23:48.440
You have to touch your wheel from time to time.

565
00:23:48.599 --> 00:23:50.119
No, well not really though.

566
00:23:50.480 --> 00:23:52.160
I think that's what it was with the Tesla. You

567
00:23:52.200 --> 00:23:54.039
have to touch the wheel. It has to know that

568
00:23:54.079 --> 00:23:54.319
you're in.

569
00:23:54.440 --> 00:23:56.039
And then it also has a feature that if you,

570
00:23:56.039 --> 00:23:58.079
you know, pull your phone up, it might yell at

571
00:23:58.119 --> 00:23:59.960
you the same thing. Hey, put your hands on the wheel.

572
00:24:00.119 --> 00:24:00.799
If they don't want you to.

573
00:24:00.759 --> 00:24:03.000
Falling asleep and you know, okay, I want to go

574
00:24:03.000 --> 00:24:04.759
to flags. You have put it on our driving and

575
00:24:04.839 --> 00:24:06.880
take a nap, right. They don't want that to happen. No,

576
00:24:06.960 --> 00:24:09.720
I don't want them and I'm not sure why if

577
00:24:09.720 --> 00:24:12.440
you're really good at this, this autonomous driving, why wouldn't

578
00:24:12.440 --> 00:24:14.279
you let me take a nap? I mean, are you

579
00:24:14.319 --> 00:24:15.640
gonna do this or you want me to do it,

580
00:24:15.680 --> 00:24:16.559
or are we gonna do it together?

581
00:24:17.119 --> 00:24:18.680
Very well, I think there's too much of a liability.

582
00:24:19.480 --> 00:24:21.759
It's too much of a liability on Tesla right now.

583
00:24:21.640 --> 00:24:24.039
So anywhere. We'll be back right after this break. Thanks

584
00:24:24.039 --> 00:24:25.160
for joining us.

585
00:24:30.119 --> 00:24:32.119
Welcome back to the Money Matter Show. My name is

586
00:24:32.119 --> 00:24:35.079
Todd Glick. I'm here with Sebastian Boords, Seni, David Surewoodend

587
00:24:35.160 --> 00:24:38.960
Dylan Greenberg. This week we had tariff talk as well

588
00:24:39.000 --> 00:24:43.039
as some drama on Capitol Hill. One big beautiful bill.

589
00:24:43.440 --> 00:24:46.000
It might be coming to too fruition. One of the

590
00:24:46.000 --> 00:24:47.799
other things we didn't talk about in the bill was

591
00:24:47.839 --> 00:24:50.920
they did get in the no tax on overtime and

592
00:24:51.480 --> 00:24:54.160
no tax on tips. Now, the no tax on tips,

593
00:24:54.160 --> 00:24:57.599
I don't think really impacts the whole debt collection system.

594
00:24:58.000 --> 00:24:59.279
Who is reporting tips anyways.

595
00:24:59.359 --> 00:25:02.000
I was just saying they're assuming we're already paying tips.

596
00:25:02.079 --> 00:25:03.839
And also it was saying up to one hundred and

597
00:25:03.839 --> 00:25:06.880
sixty thousand, anyone one hundred and sixty thousand tips It's like, Okay,

598
00:25:06.880 --> 00:25:09.079
if anyone making an undred six thousand is the server,

599
00:25:09.160 --> 00:25:09.920
they're doing just fine.

600
00:25:10.400 --> 00:25:12.000
Fine, Yeah, they good for them.

601
00:25:12.400 --> 00:25:14.799
How about some fun facts on this three day weekend?

602
00:25:14.839 --> 00:25:15.319
What do you got?

603
00:25:15.480 --> 00:25:17.400
I got that This is kind of an interesting thing.

604
00:25:17.440 --> 00:25:22.519
I saw this on Friday from May twentieth to May

605
00:25:22.519 --> 00:25:27.480
twenty ninth. The date is the same forward as it

606
00:25:27.559 --> 00:25:32.480
is backwards. Think about it. Today's five twenty five twenty five.

607
00:25:32.880 --> 00:25:38.160
Reverse those numbers five twenty five twenty five for the

608
00:25:38.240 --> 00:25:41.440
nine day period. That is cool, That's what I was saying. Oh,

609
00:25:41.519 --> 00:25:42.359
that's kind of interesting.

610
00:25:42.400 --> 00:25:44.839
We need to give like a visual to the somebody.

611
00:25:44.880 --> 00:25:48.039
Somebody observed that, right. How about how about X rays?

612
00:25:48.079 --> 00:25:49.160
You guys ever had X rays?

613
00:25:49.240 --> 00:25:53.519
Yeah, they're great for you. That what's a stand for xylophone?

614
00:25:53.960 --> 00:25:57.839
Xylophone? That's a good guess. But uh, the guy who

615
00:25:57.920 --> 00:26:01.440
invented the X ray in eighteen twenty five used the

616
00:26:01.519 --> 00:26:05.200
letter X indicating it was a newly discovered type of

617
00:26:05.279 --> 00:26:10.519
radiation whose properties were then unknown, And he actually called

618
00:26:10.559 --> 00:26:12.960
them X rays because he didn't know what they were,

619
00:26:13.319 --> 00:26:17.799
what the property was on. It's amazing Todd asking me this,

620
00:26:18.160 --> 00:26:21.240
of there's so many things that taste like chicken, right,

621
00:26:21.799 --> 00:26:24.000
I mean, have that tastes like chicken? Have that tastes

622
00:26:24.039 --> 00:26:27.240
like chicken? What you know, things that taste like chicken?

623
00:26:27.519 --> 00:26:29.599
You never heard people say it tastes like chicken. A

624
00:26:29.680 --> 00:26:32.359
rattle tastes like chicken, right, like chicken?

625
00:26:32.400 --> 00:26:32.839
Yeah?

626
00:26:32.920 --> 00:26:35.079
Okay, how come eggs don't taste like chicken?

627
00:26:35.119 --> 00:26:37.160
That's all I want to know. Yeah, that's a good point.

628
00:26:37.279 --> 00:26:41.839
You know, maybe because you're eating a baby, oh before.

629
00:26:41.559 --> 00:26:45.000
It's a chicken baby taste like eggs.

630
00:26:45.039 --> 00:26:46.799
I wonder if you ate frog eggs but it tastes

631
00:26:46.799 --> 00:26:47.200
like frog.

632
00:26:47.680 --> 00:26:49.680
I wonder. One of the mysteries in life is why

633
00:26:49.720 --> 00:26:54.359
do we drive on a parkway and park on a hiveway.

634
00:26:54.759 --> 00:26:55.759
That's kind of a weird one.

635
00:26:55.799 --> 00:26:57.720
Huh, are you gearing up for your stand up next week?

636
00:26:59.480 --> 00:26:59.799
I try.

637
00:27:01.680 --> 00:27:03.559
There have been people throughout my life that think I

638
00:27:03.559 --> 00:27:06.200
missed my calling, that I probably I probably should have

639
00:27:06.200 --> 00:27:08.079
been a standard. But I don't know. I think I

640
00:27:08.079 --> 00:27:11.039
would have enjoyed that, I think. But it's hard to say.

641
00:27:11.079 --> 00:27:13.680
But I see these stand up comedians, the successful ones,

642
00:27:13.720 --> 00:27:15.160
and it looks like a lot of work.

643
00:27:15.279 --> 00:27:17.240
Nig BARGOSSI though, Yeah, I was going to say you

644
00:27:18.079 --> 00:27:18.640
could beat him.

645
00:27:19.000 --> 00:27:21.079
Have my Nate BARGOSSI, I would That's who I would be.

646
00:27:21.519 --> 00:27:24.319
That's who I would be, A Nate Bargotti. It's a

647
00:27:24.759 --> 00:27:28.559
so the market. It kind of interesting statistic. I saw

648
00:27:28.640 --> 00:27:33.599
last week in January, the expectations for earnings pur Sure

649
00:27:33.640 --> 00:27:35.799
for the S and P five hundred were expected to

650
00:27:35.839 --> 00:27:38.279
go out fourteen point six year over year. That's January

651
00:27:38.839 --> 00:27:40.880
fourteen point six year over year. Here we are five

652
00:27:40.880 --> 00:27:45.480
months later now it's at nine. So it's gone from

653
00:27:45.480 --> 00:27:50.400
a fourteen point six percent growth to nine. That was

654
00:27:50.480 --> 00:27:52.640
kind of a that was a prison pretty significant drop.

655
00:27:52.720 --> 00:27:54.480
You know what I just did not get? How can

656
00:27:54.519 --> 00:27:57.119
you have a nine point nine percent or average quarterly

657
00:27:57.119 --> 00:27:59.559
growth for these companies but then you have a GDP

658
00:27:59.720 --> 00:28:03.400
that was negative for quarter one? Where was all the negative?

659
00:28:04.519 --> 00:28:04.880
Okay?

660
00:28:05.440 --> 00:28:05.640
Right?

661
00:28:05.880 --> 00:28:08.359
I mean, I mean, isn't companies contributed to GDP?

662
00:28:08.720 --> 00:28:12.319
Absolutely? Absolutely? Probably the I don't know, I may have

663
00:28:12.359 --> 00:28:14.480
something to do with they're dropping oil prices. To do

664
00:28:14.519 --> 00:28:16.000
with what they're dropping prices?

665
00:28:16.039 --> 00:28:17.680
I know, how is gone from I kind oft figure

666
00:28:17.720 --> 00:28:19.359
it out because then all of a sudden they're saying

667
00:28:19.400 --> 00:28:21.880
quarter two now the aspect estimations are we're having a

668
00:28:21.960 --> 00:28:24.640
plus two point four percent quarter in quarter two. New

669
00:28:24.720 --> 00:28:27.559
York Fed came out with that. I'm just thinking, how

670
00:28:27.640 --> 00:28:29.680
does it change? Like, where do they come up with

671
00:28:29.720 --> 00:28:30.279
these numbers?

672
00:28:30.759 --> 00:28:33.680
Yeah, it would be interesting to know what the algorithms

673
00:28:33.680 --> 00:28:36.319
are behind those numbers, because I'm sure they're they're I mean,

674
00:28:36.319 --> 00:28:39.720
they're they're factual, But it would be interesting to know

675
00:28:39.839 --> 00:28:42.200
if the algorithms, if we should looked at the algorithm

676
00:28:42.200 --> 00:28:43.440
and go, well, that's just stupid.

677
00:28:44.799 --> 00:28:45.799
You could yeah, we.

678
00:28:45.839 --> 00:28:46.839
Just gonna import more.

679
00:28:47.960 --> 00:28:49.680
Well, government spending might have gone down.

680
00:28:51.400 --> 00:28:53.599
We're all just throwing guesses out right. Who knows, because

681
00:28:54.240 --> 00:28:57.359
it's just a it's a big fluctuation to have all

682
00:28:57.400 --> 00:28:59.759
of a sudden, we had Originally quarter one was gonna

683
00:28:59.759 --> 00:29:02.480
be plus two and then it was negative, came into negative,

684
00:29:02.519 --> 00:29:04.799
and now we're quarter two was gonna be nega and

685
00:29:04.799 --> 00:29:09.680
now we're positive this. Yeah, Whip saw back and forth.

686
00:29:09.440 --> 00:29:14.039
That websage strictly on their Chinese caruff padge directly, and

687
00:29:14.079 --> 00:29:16.880
I think I think you can make a case because

688
00:29:16.920 --> 00:29:19.759
there was people pulling in their horns everywhere you looked,

689
00:29:19.799 --> 00:29:22.839
and then when that happened, it's like, ah, sorry, really.

690
00:29:22.720 --> 00:29:24.960
But if if fifteen percent you last you said this

691
00:29:25.039 --> 00:29:27.440
last week, fifteen percent of our GDP is to do

692
00:29:27.559 --> 00:29:31.839
with China. Yeah, well then if this that's a huge jump,

693
00:29:31.960 --> 00:29:32.240
you know.

694
00:29:32.400 --> 00:29:37.039
Yeah, it actually sixteen percent of rightly By comes from

695
00:29:37.200 --> 00:29:38.880
China sixteen percent.

696
00:29:38.920 --> 00:29:42.000
Obviously, it just seems like they're a pretty big player

697
00:29:42.200 --> 00:29:43.319
in our GDP numbers.

698
00:29:43.319 --> 00:29:45.519
You know what, the big beautiful bill did not include

699
00:29:45.559 --> 00:29:50.160
or actually took out the solar tax credits, which I

700
00:29:50.559 --> 00:29:52.839
absolutely destroyed the solar stocks.

701
00:29:52.480 --> 00:29:53.519
This week you got hammered.

702
00:29:53.640 --> 00:29:55.880
You had Sun Run those down thirty seven percent, you

703
00:29:55.920 --> 00:29:58.400
had en Phase and Solar Edge down nineteen and twenty

704
00:29:58.400 --> 00:30:01.680
four respectively, and have our top pick for solar only

705
00:30:01.720 --> 00:30:02.440
down four percent.

706
00:30:02.519 --> 00:30:05.599
Thankfully it's down quite a bit though. I got call

707
00:30:05.680 --> 00:30:09.079
from a listener about about the stock. And you know,

708
00:30:09.480 --> 00:30:13.440
if you have a normal position size two to five percent,

709
00:30:13.440 --> 00:30:16.839
I don't think you have to be uh doing anything here.

710
00:30:16.880 --> 00:30:19.640
I mean it, it jumped quite a significant Obviously it

711
00:30:19.680 --> 00:30:20.960
was a good place to take prof had a nice

712
00:30:21.000 --> 00:30:24.200
twenty percent, but it's come down quite a bit. And

713
00:30:24.200 --> 00:30:26.599
now the question is is just interest rates are probably

714
00:30:26.599 --> 00:30:28.039
going to be the big player for that stock.

715
00:30:28.119 --> 00:30:30.359
And so the reason that you know, for solar wasn't.

716
00:30:31.079 --> 00:30:35.359
Some companies got hammered for solar, didn't. Sun Run, for example,

717
00:30:35.400 --> 00:30:39.200
they dropped thirty percent. Legislation ends tax credits for installers

718
00:30:39.240 --> 00:30:43.640
like sun Run that lease equipments to the customers. Okay,

719
00:30:43.720 --> 00:30:46.680
for solar, it only fell four percent because the bill

720
00:30:46.799 --> 00:30:50.720
did not It left the manufacturing tax creadit really relatively unscathed.

721
00:30:50.720 --> 00:30:53.359
They didn't touch that, and so that helps for solar.

722
00:30:54.119 --> 00:30:56.839
Often in spaces like that we recommend DT. This is

723
00:30:56.880 --> 00:30:59.799
one of those rare exceptions where you have to pick

724
00:30:59.880 --> 00:31:02.079
the company first sol, right, and if you're going to

725
00:31:02.079 --> 00:31:04.839
be in that space, you need to be in that company.

726
00:31:05.200 --> 00:31:08.640
I mean they you know, with the ten you're going higher,

727
00:31:08.960 --> 00:31:11.559
and again with the ten you're going higher. And for

728
00:31:11.680 --> 00:31:14.240
solar dropping, maybe you could try to play as an

729
00:31:14.240 --> 00:31:15.480
interest rate play there Again.

730
00:31:15.240 --> 00:31:17.599
Another thing that we have with the first solar I mean,

731
00:31:17.599 --> 00:31:21.160
obviously that's the solar side of the ESG kind of thing.

732
00:31:21.200 --> 00:31:23.440
And we knew that the ESG was going to get

733
00:31:23.440 --> 00:31:28.440
carved out of the Washington landscape because of the administration.

734
00:31:28.799 --> 00:31:31.160
It was to appease some of the conservatives to get

735
00:31:31.160 --> 00:31:33.480
that bill past the House. And then the other things

736
00:31:33.480 --> 00:31:35.519
that they cut out was obviously the wind and all

737
00:31:35.599 --> 00:31:38.079
that stuff, but what they did leave in there was

738
00:31:38.119 --> 00:31:40.640
the nuclear side of things, and that helped the space

739
00:31:40.680 --> 00:31:41.440
out quite a bit.

740
00:31:42.319 --> 00:31:44.519
And that's one of those that's one of those spaces

741
00:31:44.559 --> 00:31:47.400
where I think you're better off with the ETF right.

742
00:31:47.759 --> 00:31:50.359
I I agree, there's so much volatility in that space,

743
00:31:50.440 --> 00:31:52.799
or so many different companies involved in that space. There's

744
00:31:52.799 --> 00:31:55.599
so many different angles that you can look at in

745
00:31:55.640 --> 00:32:00.200
that space. That NLR, which is the most pot Yeah,

746
00:32:00.240 --> 00:32:00.960
we used primarily.

747
00:32:01.480 --> 00:32:04.799
Yeah, we followed two of them were we hold a

748
00:32:04.839 --> 00:32:06.960
position in l n l R as a firm, but

749
00:32:07.000 --> 00:32:10.039
we also follow u r A. N l R on

750
00:32:10.119 --> 00:32:12.759
Friday was up near ten percent and u r A

751
00:32:12.880 --> 00:32:15.160
was up eleven percent, respectively.

752
00:32:14.559 --> 00:32:17.720
So yeah, yes, having a basket of those when you

753
00:32:17.759 --> 00:32:20.440
don't know who's good, nothing can be more frustrating than

754
00:32:20.519 --> 00:32:23.359
to pick the right industry and have the wrong stock.

755
00:32:23.440 --> 00:32:25.240
And I think ultimately the reason that we picked uh

756
00:32:25.680 --> 00:32:28.039
NLR instead of the u R A's because u RA

757
00:32:28.279 --> 00:32:31.640
had such a concentration in one company. I can't remember

758
00:32:31.720 --> 00:32:36.920
exactly which ones, Maybe it was Camco and Constellation and Constellation.

759
00:32:36.599 --> 00:32:39.680
So you know, je Jamie Diamond said, the market is

760
00:32:39.720 --> 00:32:42.799
too complacent about the impact of tariffs on the economy,

761
00:32:43.039 --> 00:32:45.640
and I can't I can't argue with that. But you know,

762
00:32:45.680 --> 00:32:48.920
a few weeks back, I gave you the term tariff tantrums.

763
00:32:49.400 --> 00:32:52.160
I think I use that first. I've got another one

764
00:32:52.200 --> 00:32:55.599
for you. What's driving this market? Trumptimism.

765
00:32:56.599 --> 00:32:57.279
Trumptimism.

766
00:32:57.359 --> 00:33:00.519
Trumptimism. We've got a lot of trumptimism going on. It's

767
00:33:00.519 --> 00:33:03.000
gonna that's kind of keeping the market from doing anything

768
00:33:03.039 --> 00:33:07.400
big on the down side, Kramer. On Priday, Kramer called

769
00:33:07.400 --> 00:33:12.960
Trump the administrator of pain. From the stock investor point

770
00:33:12.960 --> 00:33:15.279
of view, I can certainly see that, but also he

771
00:33:16.000 --> 00:33:18.839
brings it quite a prize at the end. And it's

772
00:33:18.880 --> 00:33:22.119
just it's his business style. He comes in hard and

773
00:33:22.480 --> 00:33:25.880
then you sit down negotiating. You know. It's it's like

774
00:33:25.920 --> 00:33:27.720
you had a house for sale for five hundred thousand

775
00:33:27.720 --> 00:33:29.960
and some guy comes in that not worth two fifty,

776
00:33:30.319 --> 00:33:32.680
you know. The way I see this the most. I

777
00:33:32.799 --> 00:33:36.359
enjoy watching Pawn Stars. It's a very educational show. If

778
00:33:36.359 --> 00:33:38.920
you haven't watched Pawn Stars, check it out. It's been

779
00:33:38.960 --> 00:33:42.519
on for twenty years, twenty five years or whatever. Obviously

780
00:33:42.559 --> 00:33:46.240
it's very, very popular. But the negotiations that go on there.

781
00:33:46.279 --> 00:33:48.759
A guy comes in, well, I wouldn't take less than

782
00:33:48.759 --> 00:33:52.319
five thousand dollars for this, and the guy goes, well,

783
00:33:52.359 --> 00:33:55.640
it's worth three hundred. I goes, well, how about five hundred?

784
00:33:56.079 --> 00:33:59.519
You know that would take less than five five hundred.

785
00:34:00.039 --> 00:34:02.799
I'll get four hundred. Okay, deal. And that's Trump, I

786
00:34:02.839 --> 00:34:05.279
mean that's Trump coming in there, going, you know, on

787
00:34:05.480 --> 00:34:10.079
fifty percent tariffs across the board, Well, how about twelve?

788
00:34:10.840 --> 00:34:13.679
How about fifteen? You know? And it gets people talking.

789
00:34:14.000 --> 00:34:15.840
When you come in with a big stick like that,

790
00:34:16.000 --> 00:34:20.199
it's it's scarce and we're not as politicians are not

791
00:34:20.360 --> 00:34:23.800
used to dealing with other politicians who are business people

792
00:34:24.599 --> 00:34:28.599
who know the art of negotiating. But he is the

793
00:34:28.639 --> 00:34:32.679
administrator of pain whenever because of the way he comes

794
00:34:32.719 --> 00:34:36.039
in so hard. This morning, when I looked in the

795
00:34:36.079 --> 00:34:39.639
feudre doing the fifty percent on EU and the futures

796
00:34:39.679 --> 00:34:42.480
are down six hundred points, I'm going, are you serious? Really?

797
00:34:42.880 --> 00:34:44.719
You think that's what it's going to be. It's gonna

798
00:34:44.760 --> 00:34:48.079
be fifty percent. Haven't we seen this movie before?

799
00:34:48.599 --> 00:34:48.760
Then?

800
00:34:48.800 --> 00:34:51.280
We see this movie just two weeks ago and We

801
00:34:51.320 --> 00:34:53.719
saw the ending, and we know how it came out.

802
00:34:54.239 --> 00:34:56.280
It came out with one of the biggest rallies we've

803
00:34:56.280 --> 00:34:59.880
had in months at the end, what are you doing?

804
00:35:00.320 --> 00:35:01.679
I think it had it had to do with the

805
00:35:01.719 --> 00:35:04.679
tandem effect of the apple tariff, just because that obviously

806
00:35:04.760 --> 00:35:06.800
drove down.

807
00:35:06.840 --> 00:35:09.400
But you people is down more than one percent seriously

808
00:35:09.840 --> 00:35:12.000
on Trump threatening You have the same token.

809
00:35:12.079 --> 00:35:17.320
You said that the optimism about the lack of impacts

810
00:35:17.320 --> 00:35:19.519
from from the tariffs. So Jamie Diamond just said this.

811
00:35:19.800 --> 00:35:22.760
No, Diamond thinks the market's being too complacent. Thing right

812
00:35:22.840 --> 00:35:25.920
about the impact of the tariffs, not the fifteen.

813
00:35:26.000 --> 00:35:28.920
That's that's why the market is responding to saying, hey,

814
00:35:28.960 --> 00:35:32.280
if it's even worse than what it is, then it's

815
00:35:32.280 --> 00:35:33.159
going to be even worse.

816
00:35:34.000 --> 00:35:35.440
We saw just was trying it when he went to

817
00:35:35.519 --> 00:35:37.199
one hundred and forty five percent and the market went

818
00:35:37.199 --> 00:35:39.440
down twenty percent. What happened all the way back.

819
00:35:39.480 --> 00:35:41.239
But what happens if it is more than ten percent

820
00:35:41.280 --> 00:35:43.800
that the market originally thought it was going to be, right, Well,

821
00:35:43.800 --> 00:35:45.639
the market thought it was going to be a ten percent.

822
00:35:46.119 --> 00:35:50.159
My point is you can't sell or buy based upon

823
00:35:50.199 --> 00:35:51.079
a Trump headline.

824
00:35:51.280 --> 00:35:52.480
Definitely not at all.

825
00:35:52.519 --> 00:35:56.320
It's all they're all trial balloons and what actually happened

826
00:35:56.400 --> 00:35:58.719
is very different. We'll be back right after this break.

827
00:35:59.119 --> 00:36:00.800
Welcome back to the Money Matter Show. My name is

828
00:36:00.840 --> 00:36:03.480
Sebastian Borsini. I'm here with Todd Glick Junior, Dylan Greenberg,

829
00:36:03.480 --> 00:36:05.320
and David Sherwood. I don't think that we've done a

830
00:36:05.360 --> 00:36:07.000
rundown of the numbers, so I'm gonna go ahead and

831
00:36:07.039 --> 00:36:09.400
do that real quick. The Dow was down two and

832
00:36:09.400 --> 00:36:11.039
a half percent this week, the S and P five

833
00:36:11.119 --> 00:36:13.960
hundred was down two point six percent, the Nasdaq tech

834
00:36:14.000 --> 00:36:17.239
companies were down two point five percent, Russell two thousand,

835
00:36:17.280 --> 00:36:20.400
small caps three point down three point five percent, and

836
00:36:20.480 --> 00:36:23.559
the equal Weight to S and P RSP down three

837
00:36:23.639 --> 00:36:24.440
point two percent.

838
00:36:24.719 --> 00:36:27.480
Yeah, it's hard to It's interesting that the RSP would

839
00:36:27.519 --> 00:36:30.360
be down more than the Dow and the S and

840
00:36:30.400 --> 00:36:33.599
P and the NASDAK. How's that possible? It would seemed

841
00:36:33.639 --> 00:36:34.840
like the Dow of the S and P and the

842
00:36:34.880 --> 00:36:36.840
nadduck would include all of the stocks that are in

843
00:36:36.880 --> 00:36:40.039
the RSP. Like I found that puzzling.

844
00:36:40.159 --> 00:36:41.000
Yeah, this is puzzling.

845
00:36:41.320 --> 00:36:44.679
One of the spaces that got a headlined was the

846
00:36:44.719 --> 00:36:45.480
defense names.

847
00:36:45.599 --> 00:36:46.119
This week.

848
00:36:46.440 --> 00:36:50.400
One of the announcements that Trump made was the Golden Dome.

849
00:36:50.599 --> 00:36:52.039
And we talked about this a couple of times on

850
00:36:52.079 --> 00:36:54.519
the show already. But the Golden Dome is that iron

851
00:36:54.559 --> 00:36:56.840
dome that Israel has that shoots down the missiles that

852
00:36:56.920 --> 00:36:59.280
come into the country. We're gonna have one here in

853
00:36:59.280 --> 00:37:01.440
the country. It's gonna cost, Dylan said, in about one

854
00:37:01.519 --> 00:37:04.559
hundred and seventy five billion dollars, so it's gonna be

855
00:37:04.760 --> 00:37:06.880
He's trying to get it somewhat up and running by

856
00:37:06.880 --> 00:37:08.440
the end of his term, but it's probably going to

857
00:37:08.480 --> 00:37:11.880
be about a seven to ten year project. For those

858
00:37:11.920 --> 00:37:14.199
who don't know, we already have these type of defense

859
00:37:14.239 --> 00:37:19.239
missile systems around key locations around the country military basis,

860
00:37:19.480 --> 00:37:24.719
especially manufacturers like raytheon that are key to defense in

861
00:37:24.719 --> 00:37:27.239
times of needs. So that's already around, but this would

862
00:37:27.280 --> 00:37:30.119
be more for the border sections. And the question is

863
00:37:30.159 --> 00:37:31.960
on one point is how much do you need it.

864
00:37:32.000 --> 00:37:34.119
I mean, of course, we kind of got the perfect

865
00:37:34.119 --> 00:37:36.599
location in the world. We got oceans on both sides,

866
00:37:36.880 --> 00:37:39.000
both south and north. We don't really have to worry

867
00:37:39.039 --> 00:37:41.599
about because we could annihilate them in a night if

868
00:37:41.599 --> 00:37:44.000
we really wanted to. So we don't really have to

869
00:37:44.000 --> 00:37:46.039
worry about it, but it's nice to have. The question

870
00:37:46.119 --> 00:37:48.639
is it worth the money? Right and especially now, and

871
00:37:49.039 --> 00:37:52.039
it's a lot of money. Defense names originally popped. They

872
00:37:52.039 --> 00:37:53.920
were probably about one percent on the news, but actually

873
00:37:53.960 --> 00:37:57.159
traded off after the following couple of days.

874
00:37:57.199 --> 00:37:58.960
So I feel like you can't really make a case

875
00:37:58.960 --> 00:38:01.360
for like, you know, in economics, you have the multiplayer

876
00:38:01.360 --> 00:38:04.360
effect economic impact. What does a new stadium do to

877
00:38:04.400 --> 00:38:08.760
the community? Right here, it's okay, we got the Golden Dome,

878
00:38:08.800 --> 00:38:11.039
we built it. Yeah, I gave people jobs. We you know,

879
00:38:11.199 --> 00:38:14.599
manufacturing companies got amount of period for an interim amount

880
00:38:14.599 --> 00:38:17.840
of period. Right now, we have it, right, Okay, Well

881
00:38:17.840 --> 00:38:18.400
that's a good point.

882
00:38:18.840 --> 00:38:20.559
The other side of that is is you get Trump

883
00:38:20.599 --> 00:38:23.960
for four years, so you spend forty billion dollars in

884
00:38:24.039 --> 00:38:26.760
the next president goes that's just stupid. It all gets abandoned.

885
00:38:26.880 --> 00:38:29.119
Also, don't forget about infrastructure. I mean, that's what building

886
00:38:29.159 --> 00:38:31.599
new roads, new bridge that's what that is, you know,

887
00:38:31.719 --> 00:38:36.559
And so you have to there. It's good overall, probably,

888
00:38:36.599 --> 00:38:37.599
but it's definitely not.

889
00:38:37.800 --> 00:38:38.599
Oh I'm all for it.

890
00:38:38.719 --> 00:38:40.599
The left is probably going to have a field day

891
00:38:40.639 --> 00:38:40.920
with it.

892
00:38:41.360 --> 00:38:44.559
Do we have one of those systems here in Tucson

893
00:38:44.880 --> 00:38:47.400
next to Yeah, yeah.

894
00:38:46.920 --> 00:38:50.480
Yeah, And then you'll see when they talk about nuclear attacks,

895
00:38:50.519 --> 00:38:55.360
the Duson is definite target for the Mississiato, Davis, Monton

896
00:38:55.440 --> 00:38:59.320
and Raytheon. We're definitely a target. And you know, an

897
00:38:59.360 --> 00:39:01.440
event of a new war, I hope so, because I

898
00:39:01.480 --> 00:39:03.559
don't want to be I do not want to be

899
00:39:03.599 --> 00:39:06.039
around if there's a nuclear war. I do not want

900
00:39:06.039 --> 00:39:09.360
to be one of the one thousand survivors trying to

901
00:39:09.400 --> 00:39:12.960
live on in this mess to figure it out. Well,

902
00:39:12.960 --> 00:39:14.719
it's like when there was a there was a big

903
00:39:14.719 --> 00:39:16.320
fire up in pineap and I had a home up

904
00:39:16.360 --> 00:39:18.320
there years ago and there was a big fire up there,

905
00:39:18.760 --> 00:39:20.960
and I said to my wife, I hope it takes

906
00:39:21.000 --> 00:39:24.119
the house because it's you know, because I don't want to.

907
00:39:24.559 --> 00:39:26.280
I just give me the money and I'm out of

908
00:39:26.320 --> 00:39:28.599
there because I'm not going to rebuild in the middle

909
00:39:28.599 --> 00:39:31.360
of an ash pit. Number one, everything around me has

910
00:39:31.400 --> 00:39:34.599
burned down, all the trees are gone. All you've seen

911
00:39:34.840 --> 00:39:37.800
areas that have been and it takes it takes years,

912
00:39:37.840 --> 00:39:41.000
literally years, decades to get back to where it was.

913
00:39:41.559 --> 00:39:44.320
And I'll just take the insurance money and go somewhere else.

914
00:39:45.079 --> 00:39:48.400
But it never got there. Oil down seventy cents last week,

915
00:39:48.440 --> 00:39:50.000
finished a sixty one steven.

916
00:39:50.079 --> 00:39:52.840
Hasn't really moved for two weeks. We got it, well,

917
00:39:53.159 --> 00:39:55.039
you've had some calls in oil. Where are we going, Dave?

918
00:39:56.440 --> 00:39:59.199
I thought we'd get down into the fifties, and then

919
00:39:59.239 --> 00:40:02.159
I thought it would rebound, but it seems stalled out

920
00:40:02.159 --> 00:40:04.719
here in the sixty sixty iber area. It depends on

921
00:40:04.760 --> 00:40:10.119
what the economy does. If the teriff agreements are to

922
00:40:10.159 --> 00:40:13.360
come to fruition. I think that's positive for the economy.

923
00:40:13.360 --> 00:40:15.159
I think you could say, oh, I'll pick up from here.

924
00:40:15.880 --> 00:40:17.880
I've been buying a little Exxon down in here, in

925
00:40:17.920 --> 00:40:21.719
a little chevron. I just think that those are places

926
00:40:21.760 --> 00:40:24.000
to maybe put some money, that long term money.

927
00:40:24.239 --> 00:40:26.400
That's a good It reminds me, you know, one of

928
00:40:26.440 --> 00:40:28.760
the things that we always talk about when we do proposals,

929
00:40:29.039 --> 00:40:31.119
and most people don't know that. You know, when you've

930
00:40:31.119 --> 00:40:33.199
come in for the financial plan, that's just the first step.

931
00:40:33.199 --> 00:40:34.840
Obviously we're going to build out your plan based on

932
00:40:34.880 --> 00:40:37.559
your goals and objectives, and then obviously find your risk tolerance.

933
00:40:37.880 --> 00:40:39.760
But in the second meeting and the proposal we're actually

934
00:40:39.800 --> 00:40:43.480
building our action steps, our suggestions for what we think

935
00:40:43.480 --> 00:40:45.679
you should do based on the goals and objectives and

936
00:40:45.679 --> 00:40:47.079
the risk tolerants for you, because there's a lot of

937
00:40:47.159 --> 00:40:50.079
vehicles we can take to you the final destination to

938
00:40:50.119 --> 00:40:54.480
accomplish those goals. So it's just really important to see

939
00:40:54.280 --> 00:40:56.719
that that whole side of things.

940
00:40:58.480 --> 00:41:01.280
There were some interesting news items this week. I agree

941
00:41:01.280 --> 00:41:02.840
with you, God, there was some interesting news out of

942
00:41:02.840 --> 00:41:05.039
it this week. Department of Education. You know, Trump's been

943
00:41:05.079 --> 00:41:08.880
after them. A federal judge in Boston ordered Trump on

944
00:41:08.920 --> 00:41:13.599
Thursday to reinstate more than thirteen hundred Education Department employees.

945
00:41:13.960 --> 00:41:16.199
He said the department must be able to carry out

946
00:41:16.239 --> 00:41:20.639
his function and its obligations, as well as relevant statutes

947
00:41:20.719 --> 00:41:23.320
mandated by Congress. I thought that was interesting. There's a

948
00:41:23.360 --> 00:41:26.119
really interesting thing going on in immigration. We've all talked

949
00:41:26.119 --> 00:41:29.760
about immigration and deportation. That's been in any of that. Now.

950
00:41:29.840 --> 00:41:31.880
I don't see it as much now as I did,

951
00:41:31.920 --> 00:41:37.559
but concerned about illegal immigrants and how now they're just.

952
00:41:37.480 --> 00:41:39.239
Deporting the Harvard International student.

953
00:41:40.199 --> 00:41:42.400
That's crazy. Did you see where a federal judge on

954
00:41:42.480 --> 00:41:47.760
Friday halted Trump's administration's ban on Harvard enrolling international students.

955
00:41:47.960 --> 00:41:49.760
What is going on with it seems like Trump has

956
00:41:49.800 --> 00:41:51.599
a personal fight with Harvard.

957
00:41:51.599 --> 00:41:54.519
Well, that is very personal. It feels very personal. And

958
00:41:54.559 --> 00:41:55.960
what you don't want to do is you don't want

959
00:41:55.960 --> 00:41:57.559
to get in a fight with the president of the

960
00:41:57.639 --> 00:41:59.639
United States, especially if Donald Trump.

961
00:41:59.639 --> 00:42:01.119
Do you think Aaron got denied?

962
00:42:01.880 --> 00:42:06.400
Is that I don't know, but something I'm just joking,

963
00:42:06.719 --> 00:42:07.800
But there's something's.

964
00:42:07.440 --> 00:42:09.400
Going on there with him, and I mean, it seems

965
00:42:09.400 --> 00:42:10.000
a little personal.

966
00:42:10.079 --> 00:42:11.280
It's very it seems very personal.

967
00:42:11.320 --> 00:42:13.719
And on top of it, I mean, that's one thing, right,

968
00:42:14.800 --> 00:42:17.400
no more immigrants allowed to come and study at Harvard,

969
00:42:17.440 --> 00:42:19.159
But what about the kids, the immigrants that are already

970
00:42:19.199 --> 00:42:21.400
studying there, What about the ones that are going to

971
00:42:21.440 --> 00:42:24.960
be seniors this next time one countries? That's crazy.

972
00:42:25.239 --> 00:42:27.679
I don't know. The whole thing is just crazy. It

973
00:42:27.719 --> 00:42:31.360
seems a little odd. But you get this. Did you

974
00:42:31.360 --> 00:42:34.719
see we're on the where Congress voted to a block

975
00:42:34.920 --> 00:42:38.800
California's ban on the sale of gas cars after twenty

976
00:42:38.800 --> 00:42:41.000
thirty five, Like that was ever going to happen anyway.

977
00:42:42.119 --> 00:42:44.280
I'm sure the state of California has to be going,

978
00:42:44.360 --> 00:42:45.559
thank you, thank you.

979
00:42:45.639 --> 00:42:48.519
Another thing I was really glad they voted on was

980
00:42:48.599 --> 00:42:51.199
they they did not ban the toush push. The touch

981
00:42:51.239 --> 00:42:52.519
push is still around.

982
00:42:52.400 --> 00:42:55.360
So NFL got it right.

983
00:42:55.880 --> 00:42:56.679
Oh my god.

984
00:42:56.719 --> 00:42:58.480
I can't ban a good play, right.

985
00:42:58.639 --> 00:43:01.000
Big thing is that that's a play. To watch it

986
00:43:01.079 --> 00:43:02.559
and what's going to be funn is to see if

987
00:43:02.599 --> 00:43:05.079
the defensive side can come up with something to off.

988
00:43:04.920 --> 00:43:06.559
Yet that you lift more weights?

989
00:43:06.920 --> 00:43:09.960
Do I think they couldn't? If you're and do you

990
00:43:09.960 --> 00:43:11.719
want to explain doing what we're talking about here?

991
00:43:12.119 --> 00:43:14.280
Yeah, the toush pushes what the Eagles are the best at.

992
00:43:14.320 --> 00:43:16.159
And I mean if you watch NFL football, you know

993
00:43:16.199 --> 00:43:18.599
what the toush push is, and it's it's a fourth

994
00:43:18.639 --> 00:43:21.079
down player short yard is play where the quarterbacks a

995
00:43:21.119 --> 00:43:23.000
QB sneak. But the Eagles perfected it where they got

996
00:43:23.039 --> 00:43:25.800
guys pushing behind the quarterback. So the NFL is trying

997
00:43:25.800 --> 00:43:27.760
to say, or owners were trying to say, it should

998
00:43:27.760 --> 00:43:30.440
be illegal because it puts the players at harm and

999
00:43:30.719 --> 00:43:32.719
defense can't push back.

1000
00:43:33.079 --> 00:43:34.239
So but the Eagles.

1001
00:43:34.239 --> 00:43:36.639
Every team could do it, no one's stopping them, but

1002
00:43:36.719 --> 00:43:38.400
the Eagles were the only ones that were good at it.

1003
00:43:38.719 --> 00:43:40.760
I mean, the Bills have Josh Allen and they couldn't

1004
00:43:40.760 --> 00:43:41.039
do it.

1005
00:43:41.199 --> 00:43:42.880
So who's who was trying to stop it?

1006
00:43:43.559 --> 00:43:44.360
The Packer.

1007
00:43:44.840 --> 00:43:47.119
The Packers were the one that put don't forget Jalen

1008
00:43:47.159 --> 00:43:48.119
Hurt squat six.

1009
00:43:48.880 --> 00:43:50.239
You got him, and then behind him as sake one

1010
00:43:50.280 --> 00:43:52.800
Barkley who can clean four hundred and fifty pounds, and

1011
00:43:52.840 --> 00:43:54.599
then before and they got one of the best centers

1012
00:43:54.639 --> 00:43:55.039
in the league.

1013
00:43:55.039 --> 00:43:56.639
But then they say, the owners are trying to.

1014
00:43:56.559 --> 00:43:58.840
Say that like Jason Kelsey, who was their Hall of

1015
00:43:58.880 --> 00:44:00.880
Fame center, he was really good at it because he's

1016
00:44:00.880 --> 00:44:03.119
a little undersize, and they were saying, oh, this is the

1017
00:44:03.159 --> 00:44:05.400
reason that he retired was because of the Tousch push.

1018
00:44:05.760 --> 00:44:07.920
So Kelsey said that he went into the meeting and

1019
00:44:08.000 --> 00:44:09.840
he's like, just to make it very clear, I don't

1020
00:44:09.840 --> 00:44:12.079
care what the outcome is of this, but if I

1021
00:44:12.119 --> 00:44:13.400
came back to that, like, I would come back to

1022
00:44:13.400 --> 00:44:15.760
the NFL solely just to run this play any times

1023
00:44:15.760 --> 00:44:16.079
a game.

1024
00:44:16.280 --> 00:44:17.679
I love it.

1025
00:44:17.920 --> 00:44:18.880
Take what that was, you will.

1026
00:44:19.039 --> 00:44:21.559
It's interesting. It's a fun play to watch because you

1027
00:44:21.599 --> 00:44:22.559
can't stop this, right.

1028
00:44:22.960 --> 00:44:26.559
I didn't realize that the Green Bay Packers communists.

1029
00:44:27.519 --> 00:44:33.599
It was him and that team's got about it. They're

1030
00:44:33.760 --> 00:44:37.559
loyal to anybody and they're pretty this pretty strong FANA

1031
00:44:37.840 --> 00:44:40.400
the immigration kind of we've talked a lot about immigration.

1032
00:44:40.800 --> 00:44:44.000
This is interesting. The Supreme Court on Monday gave the

1033
00:44:44.000 --> 00:44:47.639
Trump administration the greenlight to revoke special legal protection for

1034
00:44:47.760 --> 00:44:52.239
thousands of Venezuelan immigrant. The High Court granted an emergency

1035
00:44:52.239 --> 00:44:55.239
application five by the administration, meaning officials can move forward.

1036
00:44:55.679 --> 00:45:01.360
Uh and in the three hundred thousand Venezueliams here that

1037
00:45:01.519 --> 00:45:06.880
are here illegally, right. But here's an interesting aside to this.

1038
00:45:06.920 --> 00:45:10.239
Because you've got all these sanctuary cities and sanctuary states

1039
00:45:10.280 --> 00:45:13.280
and people hiding these people and stuff. This is the

1040
00:45:13.400 --> 00:45:17.360
US Attorney in Los Angeles formed a task force. Task

1041
00:45:17.360 --> 00:45:20.440
forces made up of ICE, the FBI, the DEA, and

1042
00:45:20.480 --> 00:45:24.039
the ATF. Pretty good combination right there. They work out

1043
00:45:24.079 --> 00:45:26.960
of an office in downtown LA and their purposes to

1044
00:45:27.039 --> 00:45:32.039
identify illegals who were deported but have come back and

1045
00:45:32.119 --> 00:45:35.920
are now in jail. They are then able to get

1046
00:45:36.000 --> 00:45:40.840
a federal famiony arrest warrant for these people, and sanctuary

1047
00:45:40.880 --> 00:45:43.519
cities are required to turn them over. They have no choice.

1048
00:45:44.880 --> 00:45:48.320
Kind of interesting from southern California that helped to expand

1049
00:45:48.320 --> 00:45:50.280
it to the rest of the nation, But it's an

1050
00:45:50.280 --> 00:45:55.840
interesting way to get bad actors who have been deported

1051
00:45:56.719 --> 00:45:58.360
before out of the country.

1052
00:45:59.079 --> 00:46:02.000
Yeah, and the actors that somehow are being protected by

1053
00:46:02.039 --> 00:46:06.039
states that are right entirely liberal and not thinking about

1054
00:46:06.039 --> 00:46:07.119
that they're populous.

1055
00:46:07.159 --> 00:46:08.920
You look back on it, like, there's a reason the

1056
00:46:08.920 --> 00:46:12.480
pendulum is swinging so far right already with this deportations

1057
00:46:12.519 --> 00:46:14.480
and all this immigration thing, trying to get them out

1058
00:46:14.639 --> 00:46:17.599
because during Biden's administration they let inn over nine million people.

1059
00:46:18.199 --> 00:46:20.800
The seven million were accounted for, and then they're like,

1060
00:46:20.800 --> 00:46:22.239
there's about one and a half million that we caught

1061
00:46:22.239 --> 00:46:23.679
on camera but didn't do anything.

1062
00:46:24.079 --> 00:46:25.679
Yeah, nine million people in four years come through.

1063
00:46:25.679 --> 00:46:27.800
I mean, for example, like Barack Obama during his time,

1064
00:46:28.119 --> 00:46:30.639
like two million people during eight years. Trump was one

1065
00:46:30.639 --> 00:46:32.239
point eight million there his first term, and then al

1066
00:46:32.239 --> 00:46:34.400
sudden you get nine million. Of course, the pendulum has

1067
00:46:34.400 --> 00:46:37.320
to swing the other way. It's just not sustainable to

1068
00:46:37.400 --> 00:46:39.880
have that. It's gonna come back to the middle. But

1069
00:46:39.960 --> 00:46:42.199
it's just so just had to go the other way

1070
00:46:42.239 --> 00:46:44.320
because if you didn't stop nine million people in four

1071
00:46:44.400 --> 00:46:46.480
years and he kept going this other way, all of

1072
00:46:46.480 --> 00:46:48.840
suddenre's gonna be fifty million people in ten years.

1073
00:46:49.159 --> 00:46:50.920
You can't account for that. You can't help that.

1074
00:46:51.079 --> 00:46:53.440
And those one point five million that came over unaccounted

1075
00:46:53.519 --> 00:46:55.840
for that, Guess how they got over here? Most likely

1076
00:46:55.920 --> 00:46:59.199
the coyotes. And guess who you helped fund the cartels

1077
00:46:59.559 --> 00:47:01.880
and indirectly. But that's what you're doing and.

1078
00:47:01.840 --> 00:47:03.800
Coming through with no plan, no way to sustain it,

1079
00:47:04.159 --> 00:47:06.679
no place to go. I mean, it's just crazy and.

1080
00:47:06.679 --> 00:47:08.360
It's ruining for people that do want to come through

1081
00:47:08.360 --> 00:47:10.199
here the right way and do all that.

1082
00:47:10.320 --> 00:47:12.360
It is right now, But it's nice that they've come

1083
00:47:12.440 --> 00:47:13.760
up with a way. It's kind of like the city

1084
00:47:13.800 --> 00:47:17.559
council voted to get the panhandlers off the medians and

1085
00:47:17.599 --> 00:47:20.199
the reason, and it's the liberal city council, was that

1086
00:47:20.360 --> 00:47:24.119
the reason they did that was they used safety. They're

1087
00:47:24.159 --> 00:47:26.639
concerned about their safety. Well I don't know about that,

1088
00:47:26.760 --> 00:47:30.360
but the panhandlers off the medians is a good look

1089
00:47:30.400 --> 00:47:33.599
for Tucson. I don't think that did a lot to

1090
00:47:33.760 --> 00:47:36.199
enhance the beauty of our city. And we'll be back.

1091
00:47:36.199 --> 00:47:37.760
We're coming up on a heart break here and we

1092
00:47:37.800 --> 00:47:40.360
appreciate you taking time out of a Memorial Day weekend

1093
00:47:40.760 --> 00:47:42.880
and please take a little time to thank the people

1094
00:47:42.880 --> 00:47:43.960
who gave it their lies for you.

1095
00:47:44.679 --> 00:47:45.199
Welcome back.

1096
00:47:45.239 --> 00:47:47.840
This is the Money Matters Show, our number two. We

1097
00:47:47.920 --> 00:47:49.960
thank you for taking time out of your Memorial Day

1098
00:47:49.960 --> 00:47:54.559
weekend to join us, and we appreciate those who gave

1099
00:47:54.599 --> 00:47:59.119
the ultimate paid the ultimate price for our freedom. Interesting

1100
00:47:59.159 --> 00:48:01.239
week in the market, two and a half percent, pretty

1101
00:48:01.320 --> 00:48:07.960
much across the board. Tariffs get the blame, the concerns

1102
00:48:08.000 --> 00:48:10.960
about rising interest rates as a result of the Big

1103
00:48:11.000 --> 00:48:14.679
Beautiful Bill, One big beautiful bill, one big beautiful bill.

1104
00:48:14.679 --> 00:48:16.760
Actually that was I think Wednesday was the worst day

1105
00:48:16.840 --> 00:48:18.800
than Friday. So when I say tariffs get the blame,

1106
00:48:19.159 --> 00:48:21.559
I guess the Big Beautiful Bill gets most of the blames.

1107
00:48:21.679 --> 00:48:24.920
Tariffs get some of the blame, right, But we gave

1108
00:48:24.960 --> 00:48:28.079
back about sixty percent of what we made the week before.

1109
00:48:28.719 --> 00:48:32.239
And here we are in the middle of May, or

1110
00:48:32.280 --> 00:48:34.519
near the end of May, with all of the chaos

1111
00:48:34.519 --> 00:48:37.360
that we've experienced this year. The market's down one point

1112
00:48:37.400 --> 00:48:40.400
three percent, So take a deep breath, yeah, relax.

1113
00:48:40.840 --> 00:48:43.320
That vix also picked up a little bit. We saw that,

1114
00:48:43.400 --> 00:48:45.599
we talked about how it was in the teens and

1115
00:48:45.920 --> 00:48:47.800
got back above the twenty level. I think it was

1116
00:48:47.800 --> 00:48:51.239
finished around twenty two on the week, So that obviously

1117
00:48:51.320 --> 00:48:53.800
showed that the fear picked up, Like you said, over

1118
00:48:53.840 --> 00:48:55.639
the course of the year, not much prices.

1119
00:48:57.119 --> 00:49:00.000
With all of this chaos, right, And we've said before

1120
00:49:00.000 --> 00:49:05.360
four on the show, equities are the best way to

1121
00:49:05.360 --> 00:49:09.119
build wealth in this country, and the more exposure you

1122
00:49:09.159 --> 00:49:12.760
can have to them, the better you will do. But

1123
00:49:12.920 --> 00:49:16.199
the price of admission is volatility, and you just have

1124
00:49:16.239 --> 00:49:17.800
to be you have to understand it. So we have

1125
00:49:17.800 --> 00:49:19.280
a risk all LIESE program. You want to talk a

1126
00:49:19.320 --> 00:49:21.639
little bit about that Risk lies program, Sebastian, How can

1127
00:49:21.639 --> 00:49:22.360
that can help people?

1128
00:49:22.480 --> 00:49:22.679
Yeah?

1129
00:49:22.679 --> 00:49:25.360
I mean if anybody ever wanted to, they could, and

1130
00:49:25.480 --> 00:49:26.840
they didn't want to come in for a meeting, they

1131
00:49:26.840 --> 00:49:30.039
could literally just send me Sebastian at Greenberg Financial dot

1132
00:49:30.039 --> 00:49:32.119
com their account statements and I will be able to

1133
00:49:32.119 --> 00:49:35.800
supply you with a risk assessment, a risk score. So

1134
00:49:35.920 --> 00:49:37.800
what a risk score? We measure risks from zero to

1135
00:49:37.840 --> 00:49:39.800
a hundred, to hundred being the most aggressive, zero being

1136
00:49:39.840 --> 00:49:44.039
the least aggressive. Within your portfolio, you're gonna have various positions.

1137
00:49:44.119 --> 00:49:47.000
Each one of these positions has a set risk score

1138
00:49:47.079 --> 00:49:49.639
associated with it. You could call Apple a ninety nine

1139
00:49:49.719 --> 00:49:52.519
risk score. You could call an Nvidia a ninety nine

1140
00:49:52.599 --> 00:49:54.960
risk score. It's very aggressive, it has a high beta.

1141
00:49:55.000 --> 00:49:57.480
It means it moves more than the market.

1142
00:49:57.679 --> 00:49:57.920
Right.

1143
00:50:00.159 --> 00:50:04.559
Ultimately, just giving some more information, I guess a bond

1144
00:50:04.679 --> 00:50:08.559
would have maybe a risk assessment of ten to twenty. Okay,

1145
00:50:09.280 --> 00:50:12.400
all of the whatever is within your portfolio is going

1146
00:50:12.440 --> 00:50:14.599
to make up a whole composite score. Let's call it

1147
00:50:14.679 --> 00:50:17.320
seventy five. You have a sixty forty, you have a

1148
00:50:17.360 --> 00:50:19.280
couple of aggressive stocks in there. You come in a

1149
00:50:19.320 --> 00:50:21.280
seventy five. I'm going to be able to run your

1150
00:50:21.320 --> 00:50:25.199
portfolio through stress test. Let's see what happens with this

1151
00:50:25.400 --> 00:50:28.280
sort of allocation in two thousand and eight, what happens

1152
00:50:28.360 --> 00:50:31.360
with a pandemic drop, what happens with a bull run right?

1153
00:50:31.440 --> 00:50:35.079
And see how it would perform. Aside from that, we

1154
00:50:35.159 --> 00:50:38.639
have our actual risk tolerance questionnaire. You if you send

1155
00:50:38.760 --> 00:50:40.559
me your risk portfolio and it comes back at a

1156
00:50:40.599 --> 00:50:44.360
seventy five, for example, and your risk questionnaire came back

1157
00:50:44.360 --> 00:50:46.480
at a fifty, you know that you should probably start

1158
00:50:46.519 --> 00:50:48.320
to pair back your accounts a little bit. You're getting

1159
00:50:48.320 --> 00:50:50.559
too aggressive, You're getting too ahead of yourself. Maybe it's

1160
00:50:50.559 --> 00:50:52.519
going to get emotional here if we see a market,

1161
00:50:52.719 --> 00:50:54.159
you know, event happen.

1162
00:50:54.679 --> 00:50:57.599
And you want to do the risk analysis of their

1163
00:50:57.639 --> 00:51:00.960
existing portfolio. But it's worthless than you also have a

1164
00:51:01.039 --> 00:51:05.840
risk questionnaire, risk profile questionnaire, So what's your profile. Here's

1165
00:51:05.880 --> 00:51:08.920
where you're at. Are you comfortable with that? I think

1166
00:51:09.000 --> 00:51:11.000
one of one of the things I've enjoyed the most

1167
00:51:11.000 --> 00:51:13.199
over the years is have a man and wife come

1168
00:51:13.239 --> 00:51:17.320
in here, you take this, here, you take this, and

1169
00:51:17.480 --> 00:51:20.760
do them separately. It's so interesting because it opens up

1170
00:51:20.840 --> 00:51:25.280
communications between couples that on topics that they don't often have.

1171
00:51:26.559 --> 00:51:30.000
So it's a great tool, the risk analysis tool, and.

1172
00:51:31.079 --> 00:51:33.920
We want part of the risk tolerance also is it's

1173
00:51:33.920 --> 00:51:38.159
finding the vehicle that makes most sense. Like someone who

1174
00:51:38.199 --> 00:51:40.199
might listen to us might assume that we're always putting

1175
00:51:40.239 --> 00:51:43.239
someone in an investment vehicle. They're money managers, they want

1176
00:51:43.239 --> 00:51:45.280
to always be in stocks and bonds, But that's not

1177
00:51:45.360 --> 00:51:48.639
the case. It depends on what the client's risk is,

1178
00:51:48.679 --> 00:51:50.159
as well as the goals and objectives.

1179
00:51:51.159 --> 00:51:54.920
Totally, totally. If we find that someone is going to

1180
00:51:54.960 --> 00:51:58.000
be better served with an annuity, A good example of

1181
00:51:58.039 --> 00:52:01.000
that would be someone who is late in life and

1182
00:52:02.599 --> 00:52:06.559
has a limited amount of resources and needs the maximum

1183
00:52:06.559 --> 00:52:09.679
income that that can produce. Annuities are a wonderful tool

1184
00:52:09.760 --> 00:52:12.719
for that. You can often get a seven or eight

1185
00:52:12.760 --> 00:52:16.159
percent correct me if I'm wrong, seven or eight percent

1186
00:52:17.320 --> 00:52:18.840
paid in a monthly check.

1187
00:52:19.079 --> 00:52:21.440
Yeah, I mean probably you'd have to be upwards of

1188
00:52:21.519 --> 00:52:24.079
the you know, it just depends on the product. You know,

1189
00:52:24.159 --> 00:52:26.960
spias are going to be upwards of fourteen percent if

1190
00:52:27.199 --> 00:52:28.679
you're above eighty years.

1191
00:52:28.559 --> 00:52:29.840
Old, right what a spia.

1192
00:52:30.320 --> 00:52:33.199
SPIA is going to be a single premium immediate annuity.

1193
00:52:33.239 --> 00:52:35.400
The problem with spiaz, though, is you're giving up that

1194
00:52:35.480 --> 00:52:36.519
lump sum right away.

1195
00:52:36.840 --> 00:52:38.880
And that might be I had a gal come in

1196
00:52:39.840 --> 00:52:44.280
she was at the time probably seventy seven, and she

1197
00:52:44.480 --> 00:52:47.039
had one hundred thousand dollars and she said, I need

1198
00:52:47.039 --> 00:52:49.280
the maximum amount of income I can get from this.

1199
00:52:49.920 --> 00:52:53.280
And we found an innuity company, a rated innuity company

1200
00:52:53.559 --> 00:52:56.599
that would pay her nine percent per year. And she said,

1201
00:52:56.679 --> 00:52:58.559
I am going to kill them because I'm going to

1202
00:52:58.639 --> 00:53:00.960
kill this because everybody my family is up to be

1203
00:53:00.920 --> 00:53:03.719
a hundred. I am absolutely going to break this company.

1204
00:53:04.039 --> 00:53:07.639
You're gonna get her nine percent per year every year

1205
00:53:07.840 --> 00:53:09.280
for the rest of your life. Now she's never gonna

1206
00:53:09.280 --> 00:53:10.119
get an hundred grand.

1207
00:53:10.039 --> 00:53:11.199
Back, right.

1208
00:53:11.559 --> 00:53:13.440
But the reason that makes sense is if she then

1209
00:53:13.599 --> 00:53:15.960
instead gave that money to you, David, one hundred grand,

1210
00:53:16.239 --> 00:53:19.119
and you paid her nine thousand dollars nine percent every

1211
00:53:19.159 --> 00:53:21.519
single year, how long you think that account lasts.

1212
00:53:21.599 --> 00:53:23.239
Wouldn't it wouldn't last one hundred that's.

1213
00:53:23.159 --> 00:53:25.320
For maybe twelve years max, you could say.

1214
00:53:25.760 --> 00:53:27.800
And literally, that's a that's a rare one, I think

1215
00:53:27.880 --> 00:53:30.719
the only one I've ever written in my in my career.

1216
00:53:30.719 --> 00:53:32.760
Speeds are very rare. Most of the time. What we

1217
00:53:32.840 --> 00:53:35.719
do is the fixed indexinuity with an income writer, and

1218
00:53:35.760 --> 00:53:38.760
so you'll still get a guaranteed income, but they're lesser amounts.

1219
00:53:38.800 --> 00:53:41.239
They're around six to seven percent because you're not giving

1220
00:53:41.280 --> 00:53:43.679
up the lump sum. You still have that death benefit.

1221
00:53:43.800 --> 00:53:45.760
You can take any amount of money and get seven

1222
00:53:45.800 --> 00:53:47.960
eight If you're again in your seventies, you can get

1223
00:53:48.000 --> 00:53:50.880
seven eight nine percent depend upon the annuity company for

1224
00:53:50.920 --> 00:53:52.119
the rest of your life period.

1225
00:53:52.280 --> 00:53:53.960
Well, it's a good thing to just bring up as

1226
00:53:54.760 --> 00:53:56.519
a rule of thumb for people that don't know, is

1227
00:53:56.599 --> 00:53:59.920
higher interest rates allow annuity companies to offer better, better products.

1228
00:54:01.280 --> 00:54:04.639
Yeah, rule of thumb, if you had five hundred thousand dollars.

1229
00:54:04.639 --> 00:54:07.800
So how much income can I get from this? Probably

1230
00:54:07.800 --> 00:54:09.159
get you a couple of grand a month. They probably

1231
00:54:09.159 --> 00:54:10.880
get you five percent. Five percent is kind of our

1232
00:54:11.000 --> 00:54:13.400
rule of thumb. As long as you're not taking more

1233
00:54:13.440 --> 00:54:16.920
than five percent a year, the principle should remain stable. Well,

1234
00:54:16.960 --> 00:54:18.760
I don't have any children. I don't care about the

1235
00:54:18.760 --> 00:54:21.599
principal remaining stable. I want as much income as I

1236
00:54:21.599 --> 00:54:24.559
can possibly get. Again, put them into an annuity and

1237
00:54:25.400 --> 00:54:29.360
you can get double that in many cases. And if

1238
00:54:29.360 --> 00:54:33.760
the principal exhausts itself over time. Who cares? Is not

1239
00:54:33.920 --> 00:54:35.719
It wasn't part of your I shouldn't say who cares,

1240
00:54:35.840 --> 00:54:37.079
but it wasn't part of your plan.

1241
00:54:37.119 --> 00:54:38.800
Well, you have to change your mindset. You don't care

1242
00:54:38.840 --> 00:54:42.000
about growth if you care about income. Right, it's like

1243
00:54:42.039 --> 00:54:47.159
a dividend investor who's not looking at the total realized performance.

1244
00:54:47.440 --> 00:54:49.760
One of the hardest things with the retirement is being

1245
00:54:49.760 --> 00:54:54.239
able to turn that dial from accumulation to support.

1246
00:54:54.480 --> 00:54:56.239
Yeah, the accumulation hard to.

1247
00:54:56.159 --> 00:55:00.400
Turn that down because you spend your entire lifetime accumulating that. Well,

1248
00:55:00.400 --> 00:55:02.679
now you're at a point where all of the assets

1249
00:55:02.679 --> 00:55:04.840
you're accumulated are going to support you.

1250
00:55:05.119 --> 00:55:06.639
I'm going to help us point and you know you

1251
00:55:06.679 --> 00:55:09.239
don't have any idea how long the journey's going to end. No,

1252
00:55:09.559 --> 00:55:11.639
like if you knew, it would be a lot easier

1253
00:55:11.679 --> 00:55:12.039
to pick.

1254
00:55:12.199 --> 00:55:15.000
And going back to the risk questionnaire, risk number real quick,

1255
00:55:15.039 --> 00:55:16.920
I just want to shut some light. The market s

1256
00:55:16.960 --> 00:55:18.559
and P five hundred is down to one point three

1257
00:55:18.559 --> 00:55:21.400
percent this year. Right, We've been on a wild ride

1258
00:55:21.559 --> 00:55:24.199
up and down both ways. It's been crazy volatile.

1259
00:55:24.400 --> 00:55:24.599
Right.

1260
00:55:25.039 --> 00:55:27.639
If you're constantly looking at your portfolio and you can't

1261
00:55:27.719 --> 00:55:30.000
sleep at night, you're scared, or maybe it's just too

1262
00:55:30.079 --> 00:55:32.400
much movements, it's probably telling you that you need a

1263
00:55:32.400 --> 00:55:35.159
pair back a little bit. Maybe we should revisit that score.

1264
00:55:35.239 --> 00:55:38.119
If you aren't the clients and just want to see

1265
00:55:38.119 --> 00:55:40.440
where you're at with it, shoot me, shoot us an email,

1266
00:55:40.480 --> 00:55:42.159
give us a call five two zero five four four

1267
00:55:42.280 --> 00:55:44.480
four nine zero nine. I'll be happy to send off

1268
00:55:44.519 --> 00:55:45.320
the risk questionnaire.

1269
00:55:45.440 --> 00:55:46.800
And you know, Dave too. We have a lot of

1270
00:55:46.800 --> 00:55:49.719
listeners that maybe aren't even in Tucson anymore, if they

1271
00:55:49.800 --> 00:55:51.559
might have listened to us back in the day or

1272
00:55:52.079 --> 00:55:54.119
just moved for whatever reason, but still picks us up

1273
00:55:54.119 --> 00:55:57.440
on the iHeartRadio. For those people. We can still do

1274
00:55:57.519 --> 00:55:59.760
that free financial plan. I mean send us an email.

1275
00:55:59.760 --> 00:56:01.920
We can do it virtually. We have many clients all

1276
00:56:02.320 --> 00:56:06.159
across the country. Being Arizona specific is not something that

1277
00:56:06.199 --> 00:56:10.199
we are. We are countrywide. Feel free to if you're

1278
00:56:10.199 --> 00:56:12.559
anywhere give us a call. Well we can help.

1279
00:56:12.559 --> 00:56:16.079
I think you did what to virtual meetings yourself this week, yep.

1280
00:56:16.400 --> 00:56:19.639
And the purpose of the risk questionnaireon is to try

1281
00:56:19.679 --> 00:56:22.800
to get you to a place where you're comfortable, to

1282
00:56:22.840 --> 00:56:25.119
where you won't worry, to where you won't look at it,

1283
00:56:25.159 --> 00:56:28.320
to where you won't being pushed to do something silly.

1284
00:56:29.559 --> 00:56:33.960
You know. I had a client who's a very conservative investor,

1285
00:56:34.000 --> 00:56:38.719
and he's fifty percent treasuries and fifty percent blue chip stocks.

1286
00:56:38.760 --> 00:56:43.039
And when the I should also say not a fan

1287
00:56:43.199 --> 00:56:46.280
of Trump. I think that's probably the biggest problem in

1288
00:56:46.320 --> 00:56:48.960
this case. But he came in. They were very concerned.

1289
00:56:50.960 --> 00:56:54.519
We structured this portfolio so you wouldn't be concerned. Why

1290
00:56:54.519 --> 00:56:57.480
are you here? Well, he's just such a mad man, okay,

1291
00:56:57.519 --> 00:56:59.840
And I now know why you're here. You're here because

1292
00:56:59.840 --> 00:57:03.760
you don't you know, you're act with Trump. And I

1293
00:57:03.800 --> 00:57:06.440
was able to talk them off the ledge, and of

1294
00:57:06.480 --> 00:57:09.480
course everything's come back and thank you. They're fine, but

1295
00:57:09.800 --> 00:57:12.599
we need to find that spot for you. I have

1296
00:57:12.679 --> 00:57:15.239
clients that are I think I've told the story before

1297
00:57:15.239 --> 00:57:17.639
about the ninety seven year old client who have calling

1298
00:57:17.719 --> 00:57:19.280
me to be more aggressive.

1299
00:57:19.119 --> 00:57:20.000
At all time highs.

1300
00:57:20.119 --> 00:57:23.599
Yeah, I want to be more aggressive and he and

1301
00:57:23.639 --> 00:57:26.039
he's always been a very aggressive investor well as a

1302
00:57:26.079 --> 00:57:30.760
money manager with fiduciary responsibility. I can't be aggressive for

1303
00:57:30.800 --> 00:57:33.000
a ninety seven year old right because I'm going to

1304
00:57:33.039 --> 00:57:36.440
be answering to his children and or the authorities. You know.

1305
00:57:36.480 --> 00:57:39.639
It's very similar to like annuities, Like there's certain times

1306
00:57:39.679 --> 00:57:41.599
where if you're trying to put your entire liquid net

1307
00:57:41.639 --> 00:57:43.679
worth and annuity, we're not going to do that. Like

1308
00:57:44.840 --> 00:57:46.800
our job is to make sure that we are prudent

1309
00:57:46.840 --> 00:57:49.679
advisors first, and sometimes that means not doing always what

1310
00:57:49.719 --> 00:57:51.719
the client wants you to do. I mean, if you

1311
00:57:51.719 --> 00:57:53.320
want to do it, you'll do it yourself. We're not

1312
00:57:53.360 --> 00:57:56.159
going to risk putting ourselves in a liable situation.

1313
00:57:56.239 --> 00:57:58.719
And that's what I've said to this particular client. I

1314
00:57:58.719 --> 00:58:00.639
said he it was a million or kind of say

1315
00:58:00.639 --> 00:58:02.519
here's an idea, why don't I send you two fifty

1316
00:58:02.559 --> 00:58:04.440
open account with Vanguard and have as much fun as

1317
00:58:04.440 --> 00:58:07.119
you want, you know, but I can't. I can't do that.

1318
00:58:07.360 --> 00:58:13.000
As with produciary responsibility, I just can't because regardless of

1319
00:58:13.159 --> 00:58:16.719
how a depth I am at picking stocks, some of

1320
00:58:16.760 --> 00:58:18.719
them are gonna are not going to work.

1321
00:58:18.840 --> 00:58:20.639
You know that Just remind me. There's a lot of clients,

1322
00:58:20.800 --> 00:58:22.679
not a lot, but I had a couple that reach

1323
00:58:22.719 --> 00:58:24.880
out and there. You guys never talk about your fees

1324
00:58:25.440 --> 00:58:27.679
on the show, and we do have a fee schedule.

1325
00:58:28.000 --> 00:58:30.159
It's not something I want to keep it not hiding.

1326
00:58:30.400 --> 00:58:32.159
Every single account we have has a fee.

1327
00:58:32.239 --> 00:58:35.480
Yep, yes, and so I mean and those who don't know.

1328
00:58:35.480 --> 00:58:37.280
We don't have account minimums either, right, so you can

1329
00:58:37.320 --> 00:58:39.599
start an account with five dollars a month, five dollars

1330
00:58:39.599 --> 00:58:41.960
and never add to it again. I mean, we wanted

1331
00:58:41.960 --> 00:58:43.639
to advise to do that's probably and you're never going

1332
00:58:43.679 --> 00:58:46.840
to commission, right, there's no commissions off fee base. But

1333
00:58:47.519 --> 00:58:49.719
accounts zero to two hundred and fifty thousand, we charge

1334
00:58:49.760 --> 00:58:52.440
one point five percent. Two hundred and fifty thousand to

1335
00:58:52.519 --> 00:58:54.880
a million, it's one point twenty five a million to

1336
00:58:54.880 --> 00:58:57.960
two million, it's one percent and above two million it's negotiable.

1337
00:58:58.000 --> 00:59:00.199
And obviously there's other accounts that will charge differ in

1338
00:59:00.239 --> 00:59:02.920
like a bond ladder, depending on the activity that's needed

1339
00:59:03.159 --> 00:59:06.519
and the management that's needed, and so there are one

1340
00:59:06.559 --> 00:59:08.639
offs here and there, But for the most part, that's

1341
00:59:08.719 --> 00:59:10.719
what you can know. That's our fee and that's how

1342
00:59:10.719 --> 00:59:13.119
we get compensated. There's no extra fee that we get

1343
00:59:13.159 --> 00:59:15.719
for doing financial plans or meeting you on review meetings,

1344
00:59:15.800 --> 00:59:20.000
or there's no kickback anywhere else. It's just truly that's

1345
00:59:20.159 --> 00:59:23.360
that's our fee, and that's what makes us fiduciaries. Right,

1346
00:59:23.440 --> 00:59:25.840
We're going to be compensated with the account as it

1347
00:59:25.840 --> 00:59:26.800
goes up or goes down.

1348
00:59:27.119 --> 00:59:31.199
Right, And when you see the commercials on TV from Fisher,

1349
00:59:31.400 --> 00:59:33.880
you know, truly different money man There's nothing different than

1350
00:59:33.920 --> 00:59:36.679
going on there people, nothing, absolutely nothing.

1351
00:59:36.719 --> 00:59:37.559
It's great marketing.

1352
00:59:37.840 --> 00:59:40.519
And most of our clients come from other money managers.

1353
00:59:40.519 --> 00:59:43.840
Well guess what so to ours? Yeah, So, I mean,

1354
00:59:43.880 --> 00:59:46.920
it's it's it's it's you gotta It's like my wife

1355
00:59:46.920 --> 00:59:50.320
said that you can't really trust anything you see as

1356
00:59:50.320 --> 00:59:55.079
being actual fact. You have to second, third, fourth, especially

1357
00:59:55.199 --> 00:59:58.079
nowadays nowadays, everything is is there to try.

1358
00:59:58.000 --> 01:00:00.199
To you know, It's also great marketing and we here

1359
01:00:00.199 --> 01:00:02.280
it all the time. Is the annuities with the bonuses.

1360
01:00:02.519 --> 01:00:04.760
Oh my god, I get a ten percent bonus, and

1361
01:00:04.840 --> 01:00:07.800
you got to know that it's for the most part,

1362
01:00:07.880 --> 01:00:11.039
it's talking about the income writer. There's a few accumulation

1363
01:00:11.119 --> 01:00:14.039
bonuses that you can find, but those accumulation bonuses are

1364
01:00:14.039 --> 01:00:16.000
ones that have to be vested over a couple of years.

1365
01:00:16.039 --> 01:00:17.880
It's never that you're going to get a bonus ten

1366
01:00:17.880 --> 01:00:19.400
percent you can take it out the next year. None

1367
01:00:19.440 --> 01:00:22.159
of that works like that. It's a surrender scheduled product,

1368
01:00:22.199 --> 01:00:24.159
which means if you do take out whatever bonus they

1369
01:00:24.239 --> 01:00:25.880
give you the mint you take it out, it's going

1370
01:00:25.920 --> 01:00:27.320
to be a lot less than what you started with.

1371
01:00:27.480 --> 01:00:29.599
So you have to keep that in mind. These are

1372
01:00:29.639 --> 01:00:32.960
long term products and people are getting really fat commissions

1373
01:00:32.960 --> 01:00:34.880
on the other side of it. So think about the

1374
01:00:34.880 --> 01:00:37.239
conflict of interest too before you put a large sum

1375
01:00:37.239 --> 01:00:38.920
of money that you aren't going to be able to

1376
01:00:38.960 --> 01:00:40.400
take out for a long period of time.

1377
01:00:40.559 --> 01:00:45.280
Yeah, it's with an annuity especially and our recent change

1378
01:00:45.320 --> 01:00:49.119
from broker deal to registered investment advisor, and what that

1379
01:00:49.239 --> 01:00:52.320
means is that we went from a fee and commission

1380
01:00:52.960 --> 01:00:57.239
firm to a straight fee firm. Our annuity structures have

1381
01:00:57.400 --> 01:01:00.519
changed as well. We don't sell the same annuities that

1382
01:01:00.599 --> 01:01:05.559
a broker dealerselves. We sell only registered investment advisor annuities,

1383
01:01:05.920 --> 01:01:08.320
which are extremely different.

1384
01:01:09.679 --> 01:01:12.079
Well, I do want to just caveat that with the

1385
01:01:12.079 --> 01:01:14.599
feed based world is still very new. So there is

1386
01:01:14.639 --> 01:01:18.199
certain products like magas and spias that don't have the

1387
01:01:18.239 --> 01:01:21.119
capability to be built on a feed based relationship yet.

1388
01:01:21.400 --> 01:01:23.719
So those products are there are still going to be commissioned.

1389
01:01:23.719 --> 01:01:25.360
So that's why we are fee based. We're not fee

1390
01:01:25.400 --> 01:01:29.360
only advisors because we can still technically be compensated. For example,

1391
01:01:29.360 --> 01:01:34.000
if we write a life insurance term policy, Greenberg Financial

1392
01:01:34.039 --> 01:01:36.559
will get a commission for that. There's no advisory fee

1393
01:01:36.559 --> 01:01:38.599
you can get from a term insurance policy course, right,

1394
01:01:38.679 --> 01:01:41.280
So we are feed based and that's the reason we

1395
01:01:41.320 --> 01:01:43.320
still can receive commissions, and those are the products we

1396
01:01:43.400 --> 01:01:45.639
use it. But the fee based annuities and those are

1397
01:01:45.639 --> 01:01:47.840
really the vas and the fias that we're dealing with

1398
01:01:47.880 --> 01:01:51.440
now are just so much cheaper in terms of the fees.

1399
01:01:51.480 --> 01:01:54.400
They strip all those fees out because the insurance company

1400
01:01:55.559 --> 01:01:57.559
is able to build a product that's best for the client.

1401
01:01:57.639 --> 01:02:00.079
They don't have to think about recouping the cost of

1402
01:02:00.119 --> 01:02:04.360
a large commission payout commission. You know, we kind of

1403
01:02:04.360 --> 01:02:06.199
realized this to day when we're thinking about why is

1404
01:02:06.239 --> 01:02:08.519
the clients that get to the age of eighties they

1405
01:02:08.519 --> 01:02:10.880
can't find the product of the magas. We had one

1406
01:02:10.880 --> 01:02:12.960
client that wouldn't even They wouldn't even write her for

1407
01:02:13.000 --> 01:02:14.960
a five year MAIGA right, and we're like, she's eighty

1408
01:02:14.960 --> 01:02:17.159
seent perfect health, wouldn't even do it. And the reason

1409
01:02:17.199 --> 01:02:19.519
being is because you're right, they have to pay out

1410
01:02:19.559 --> 01:02:23.559
that large commission to the agent, and then if the

1411
01:02:23.719 --> 01:02:26.800
client dies in two years, they're out the commission. And

1412
01:02:26.840 --> 01:02:29.239
so you start to realize that's what the innuity company

1413
01:02:29.280 --> 01:02:31.519
insurance companies are thinking about. How do they recoup their

1414
01:02:31.559 --> 01:02:33.760
commission then make their spread on top of it. And

1415
01:02:33.800 --> 01:02:36.000
the way they do that is by having all these

1416
01:02:36.000 --> 01:02:38.320
fees embedded into the product. If they never have to

1417
01:02:38.320 --> 01:02:40.639
worry about paying the commission and instead the fee is

1418
01:02:40.679 --> 01:02:43.360
just a one percent advisory fee, the way we're doing

1419
01:02:43.360 --> 01:02:46.039
it right now with all of our managed accounts, well,

1420
01:02:46.079 --> 01:02:48.519
then the insurance company can just worry about the product.

1421
01:02:48.800 --> 01:02:50.719
They know that they're going to have that money still

1422
01:02:50.760 --> 01:02:53.480
for the surrender scheduled period of time, and they can

1423
01:02:53.480 --> 01:02:55.199
make their money off it the way they normally do,

1424
01:02:55.440 --> 01:02:57.199
but they don't have to worry about recouping the cost

1425
01:02:57.239 --> 01:02:58.199
of the commission payout.

1426
01:02:58.639 --> 01:03:01.880
I think, for what if for whatever reason, you're considering

1427
01:03:02.000 --> 01:03:05.480
an annuity, a friend told you, a relative told you,

1428
01:03:05.480 --> 01:03:09.679
you read something. If for any reason on this earth

1429
01:03:09.719 --> 01:03:13.079
you're considering an annuity and you don't talk to Todd

1430
01:03:13.480 --> 01:03:16.639
or Sebastian, you're doing yourself a disservice.

1431
01:03:17.119 --> 01:03:19.760
Even current annuity too, especially if it's out of surrender.

1432
01:03:19.800 --> 01:03:23.519
We can run analysis, and especially with like I said,

1433
01:03:23.559 --> 01:03:26.039
when interest rates are higher, if you've got annuity anytime

1434
01:03:26.079 --> 01:03:29.840
from I might say to twenty ten to twenty twenty,

1435
01:03:29.960 --> 01:03:32.480
it's probably not as good as the annuities are now

1436
01:03:32.519 --> 01:03:34.719
because if interest rates are way higher than where they

1437
01:03:34.719 --> 01:03:35.360
were in during that.

1438
01:03:35.320 --> 01:03:36.840
Time, good observation.

1439
01:03:37.079 --> 01:03:39.599
So if you have in that period of time you're

1440
01:03:39.679 --> 01:03:41.559
likely out of surrender, it might be coming to out

1441
01:03:41.559 --> 01:03:45.079
of surrender. That's an opportunity to find a better annuity

1442
01:03:45.119 --> 01:03:45.719
for yourself.

1443
01:03:45.960 --> 01:03:48.679
Yeah, and again you want to talk, you want to

1444
01:03:48.719 --> 01:03:53.159
talk to us. There are other financial advisors out there

1445
01:03:53.199 --> 01:03:55.760
who are doing a great job for their clients and

1446
01:03:55.800 --> 01:03:59.599
whom I trust. But there are many that are out

1447
01:03:59.639 --> 01:04:02.360
for the mission, and we've seen them here. We've had

1448
01:04:02.400 --> 01:04:05.000
people bring in intuities and we go, oh, my goodness.

1449
01:04:05.559 --> 01:04:08.280
Humans are incentive based people, right, and say, in our world,

1450
01:04:08.480 --> 01:04:10.480
I mean when you throw commissions in there, it's a

1451
01:04:10.480 --> 01:04:11.039
little bit.

1452
01:04:11.320 --> 01:04:13.199
Well, and if it could be a confident a little

1453
01:04:13.239 --> 01:04:15.239
bit financially and here's an opportunity.

1454
01:04:16.000 --> 01:04:17.880
Yeah, Well, it's so funny. Most people don't know that.

1455
01:04:18.000 --> 01:04:23.280
Like these insurance companies they'll send sales contests to advisors,

1456
01:04:23.360 --> 01:04:26.039
say hey, if you make enough sales in this product,

1457
01:04:26.039 --> 01:04:28.360
we'll give you a one hundred thousand dollars bonus. So

1458
01:04:28.440 --> 01:04:31.079
whatever it may be, sure, And so they're literally saying, like,

1459
01:04:31.840 --> 01:04:34.079
think of us first from your product where in it

1460
01:04:34.800 --> 01:04:37.199
us as advisors. We are truly coming into a meeting

1461
01:04:37.239 --> 01:04:41.119
with no preconceived attachment to one vehicle.

1462
01:04:40.840 --> 01:04:41.199
Or the other.

1463
01:04:41.400 --> 01:04:43.360
US as independent advisors, right.

1464
01:04:43.239 --> 01:04:45.199
We're going into me and say, we have all these

1465
01:04:45.320 --> 01:04:47.440
tools in our tool belt. I don't care which one

1466
01:04:47.480 --> 01:04:49.639
we use. We're just gonna know what type of product

1467
01:04:49.639 --> 01:04:51.800
am I building? You know, and that's I know what

1468
01:04:51.840 --> 01:04:54.440
tools I need for that Whereas other people they'll go,

1469
01:04:54.480 --> 01:04:56.079
you sit you on a plan and they already know

1470
01:04:56.239 --> 01:04:58.119
exactly what tool they're going to use. I remember I

1471
01:04:58.159 --> 01:05:00.519
was at Northwestern. I knew at the end of the

1472
01:05:00.599 --> 01:05:02.360
day insurance was going to be the answer.

1473
01:05:02.920 --> 01:05:04.639
But yeah, how do I get there?

1474
01:05:04.719 --> 01:05:07.840
Yeah? How do I make this story into an insurance story?

1475
01:05:07.960 --> 01:05:10.639
Whereas we don't care about what story it comes into.

1476
01:05:11.079 --> 01:05:12.960
We just care about helping you accomplish the goals.

1477
01:05:13.039 --> 01:05:13.159
Right.

1478
01:05:13.159 --> 01:05:16.400
We don't have a preconceived thoughts or product that we're

1479
01:05:16.400 --> 01:05:18.519
going to pitch into you. You're going to come in

1480
01:05:18.679 --> 01:05:20.679
and we're going to judge you as a person. We're

1481
01:05:20.679 --> 01:05:22.239
going to have a conversation to you as a human

1482
01:05:22.239 --> 01:05:25.360
being and judge your risk tolerance, see where your money

1483
01:05:25.360 --> 01:05:27.039
should be. What tools should we put you in?

1484
01:05:27.280 --> 01:05:27.400
Right?

1485
01:05:27.559 --> 01:05:28.480
What makes sense for you?

1486
01:05:28.519 --> 01:05:33.119
Literally, terrible salesman. We really are there to help educate,

1487
01:05:33.679 --> 01:05:37.119
to make sure you at least know what product or

1488
01:05:37.159 --> 01:05:41.719
what service, or what strategy or what allocation we think

1489
01:05:41.880 --> 01:05:43.039
is the best for you.

1490
01:05:43.000 --> 01:05:44.480
And people say it all the time. They're like, Hey,

1491
01:05:44.519 --> 01:05:46.760
I got a one hundred thousand in a savings account. It's

1492
01:05:46.800 --> 01:05:49.239
earning nothing. Where should I put it? I could say hey,

1493
01:05:49.239 --> 01:05:50.679
bring it over to us. Most of the time, what

1494
01:05:50.719 --> 01:05:53.159
we say is open up a Vanguard cash plus account

1495
01:05:53.320 --> 01:05:56.360
or Marcus Goldman sacks, do it online savings. It's going

1496
01:05:56.400 --> 01:05:57.199
to make you four percent.

1497
01:05:57.280 --> 01:05:59.159
I will literally send you an email with a link

1498
01:05:59.280 --> 01:06:00.760
to Vanguard. Open up that money.

1499
01:06:00.760 --> 01:06:00.880
Mark.

1500
01:06:00.920 --> 01:06:02.239
Did we get anything from that?

1501
01:06:02.280 --> 01:06:04.320
Absolutely enough, not apending.

1502
01:06:04.440 --> 01:06:06.039
I think one of my first meetings when I started

1503
01:06:06.079 --> 01:06:08.400
here about three years ago, two years ago, ten and

1504
01:06:08.440 --> 01:06:10.719
a half years ago, I was sitting with Todd and

1505
01:06:11.079 --> 01:06:13.280
you know, one of somebody came in with their portfolio

1506
01:06:13.320 --> 01:06:15.320
and really I don't think that we even did a

1507
01:06:15.360 --> 01:06:17.480
financial plan with them, but they wanted us to review

1508
01:06:17.519 --> 01:06:19.679
their portfolios, look at their holdings, and Todd literally told

1509
01:06:19.679 --> 01:06:22.039
them I wouldn't do anything differently right, And that was

1510
01:06:22.239 --> 01:06:23.920
a little bit shocking to me, just being new to

1511
01:06:24.000 --> 01:06:26.199
this world, because I thought, okay, out of college, this

1512
01:06:26.239 --> 01:06:29.320
is a business. But I think that's what Greenberg Financial

1513
01:06:29.360 --> 01:06:32.840
is about, and I've learned that that's what that that's

1514
01:06:32.920 --> 01:06:36.079
what it's about, is helping people, being in education first

1515
01:06:36.079 --> 01:06:38.760
to people, because at that if you do that, the

1516
01:06:38.760 --> 01:06:40.320
business will come along later on.

1517
01:06:40.519 --> 01:06:43.239
I had a client to refer a friend to us,

1518
01:06:43.320 --> 01:06:44.960
and I was speaking to him the other day and

1519
01:06:45.000 --> 01:06:47.159
he said, you know when you when you talk about

1520
01:06:47.239 --> 01:06:49.920
financial advisors, he said, you guys are at the gold standard,

1521
01:06:49.960 --> 01:06:53.039
and he goes, that's what my friend deserves. Well, thank you.

1522
01:06:53.400 --> 01:06:55.039
That's what we work really hard.

1523
01:06:55.679 --> 01:06:59.760
It's very satisfying to get the amount of referrals we have lately.

1524
01:07:00.039 --> 01:07:02.199
You know, sometimes we say we do get a lot

1525
01:07:02.199 --> 01:07:06.039
of listeners calling in, but just as many referrals lately too,

1526
01:07:06.159 --> 01:07:10.159
because like you said, we are giving gold standard service

1527
01:07:10.239 --> 01:07:12.800
for the cost of nothing. Now anyone can take advantage

1528
01:07:12.840 --> 01:07:15.280
of it, and not only just anyone. We go out

1529
01:07:15.320 --> 01:07:17.360
and reach out to the people we think need it most.

1530
01:07:17.440 --> 01:07:20.360
Sebastian's going to go down to Riar Recle twice next

1531
01:07:20.400 --> 01:07:24.000
week to talk to firefighters first responders about how to

1532
01:07:24.000 --> 01:07:26.800
help themselves get started. We talk about all the time

1533
01:07:26.840 --> 01:07:29.119
with the young individuals that just don't get the education

1534
01:07:29.239 --> 01:07:31.480
you need in this day and age, about how to

1535
01:07:31.480 --> 01:07:34.719
do taxes, how to budget, no difference between debit and credit,

1536
01:07:34.719 --> 01:07:37.159
don't get the six hundred dollars payment the first time

1537
01:07:37.159 --> 01:07:39.760
you get an income on a car, right and putting

1538
01:07:39.760 --> 01:07:42.119
yourself behind the eight ball. If we can teach our

1539
01:07:42.159 --> 01:07:46.280
American public, especially the young ones, to make an investment

1540
01:07:46.320 --> 01:07:50.480
bill part of their their monthly budget. We're gonna be

1541
01:07:50.559 --> 01:07:54.480
just fine if we don't solid security. Yeah, that's gonna

1542
01:07:54.480 --> 01:07:55.239
be a problem one day.

1543
01:07:55.559 --> 01:07:57.960
Yeah. And we're constantly doing things like that, not looking

1544
01:07:57.960 --> 01:08:00.000
for any payback. If we get paid back, that's wonderful.

1545
01:08:01.079 --> 01:08:03.320
I mean, that's why we're here. I just try to

1546
01:08:03.320 --> 01:08:06.519
grow the business. But we're not here strictly to grow

1547
01:08:06.559 --> 01:08:10.079
the business. We're here to educate and hopefully as in

1548
01:08:10.119 --> 01:08:12.000
that process, we grow the business.

1549
01:08:12.039 --> 01:08:14.159
It's like when you plant seeds. Sometimes the wildlife is

1550
01:08:14.159 --> 01:08:16.079
going to eat some of them. Yeah, some of them are.

1551
01:08:18.039 --> 01:08:21.279
Yeah. There's a service called Seeking Alpha. You guys, I'm

1552
01:08:21.319 --> 01:08:24.159
sure you've seen that. Yes, online services. It's a good

1553
01:08:24.319 --> 01:08:28.840
good money not money management, a good website.

1554
01:08:28.359 --> 01:08:29.560
Good news resource.

1555
01:08:29.640 --> 01:08:34.439
In I saw last week they came up with the

1556
01:08:34.560 --> 01:08:38.279
three biggest mistake investors. Make not know if these are

1557
01:08:38.319 --> 01:08:40.399
the three biggest, but they're biggies. All three of them

1558
01:08:40.399 --> 01:08:45.920
are biggiest. Number one unrealistic expectations. Wow, that is a

1559
01:08:46.000 --> 01:08:46.680
huge one.

1560
01:08:47.079 --> 01:08:51.840
Unrealistic expectations, especially for the novice investor, right, yes, who

1561
01:08:51.880 --> 01:08:54.119
doesn't understand it's not a casino like, we're not betting

1562
01:08:54.159 --> 01:08:55.760
on black. It's not going to be a fifty percent

1563
01:08:55.800 --> 01:08:57.079
return next year.

1564
01:08:57.079 --> 01:09:00.960
Right right, right. The unrealistic expectation, that's part of our

1565
01:09:01.079 --> 01:09:05.039
what our riskalized tool is all about. Here are expectations,

1566
01:09:05.039 --> 01:09:08.439
here's what you can expect. The bond market historically is

1567
01:09:08.479 --> 01:09:12.439
done three or four percent, stock market nine or ten percent.

1568
01:09:12.680 --> 01:09:14.960
So if you have fifty to fifty, well, okay, you've

1569
01:09:15.000 --> 01:09:18.800
got three and nine right, twelve, so six percent, we're

1570
01:09:18.840 --> 01:09:20.920
going to charge you one percent fee, So five percent

1571
01:09:21.279 --> 01:09:23.199
that's the next spec Yeah, well I think I wanted

1572
01:09:23.199 --> 01:09:25.039
to double my money in the next three years. Well,

1573
01:09:25.640 --> 01:09:29.319
Vanguard dot Com, here you go. You know what he good. Look,

1574
01:09:29.399 --> 01:09:30.279
I'll send you the link.

1575
01:09:30.479 --> 01:09:34.039
And we tried to let you know what you should

1576
01:09:34.039 --> 01:09:36.720
expect when you come into the meeting, what model that

1577
01:09:36.760 --> 01:09:37.960
we're going to put you in. I had a meeting

1578
01:09:38.000 --> 01:09:40.880
yesterday with a twenty seven year old guy, and you know,

1579
01:09:40.920 --> 01:09:43.960
you could imagine his portfolio, how aggressive it could be.

1580
01:09:44.000 --> 01:09:47.079
I think, you know, he's in coinbase, he's buying doge coin,

1581
01:09:47.439 --> 01:09:50.279
this that it's a casino for him. But ultimately I

1582
01:09:50.279 --> 01:09:54.039
had a conversation with him and it's he understood that

1583
01:09:54.079 --> 01:09:55.920
he wants to set up another retirement bucket. So we

1584
01:09:55.960 --> 01:09:58.479
opened up a small ROTH iry. I said, hey, take

1585
01:09:58.479 --> 01:10:01.000
that money that you're you know, playing with, keep it,

1586
01:10:01.720 --> 01:10:04.680
but give yourself that investment bill every single month, right,

1587
01:10:04.720 --> 01:10:08.319
because ultimately it will do you justice. And it might

1588
01:10:08.359 --> 01:10:11.319
look boring. You know, we might put your your when

1589
01:10:11.359 --> 01:10:14.159
you when you're a super aggressive person and you come

1590
01:10:14.199 --> 01:10:17.000
in and you have a small dollar figure, we're gonna

1591
01:10:17.000 --> 01:10:18.920
put you in know load mutual funds. It might seem boring,

1592
01:10:18.960 --> 01:10:21.439
but you know what, it's proper.

1593
01:10:21.840 --> 01:10:23.640
Yeah, one hundred dollars a month is not going to

1594
01:10:23.680 --> 01:10:25.920
feel sexy. You're not gonna think it's gonna do anything,

1595
01:10:25.960 --> 01:10:27.119
but it's so important.

1596
01:10:28.479 --> 01:10:30.000
Point a guy called the air DA and goes, I'm

1597
01:10:30.000 --> 01:10:31.880
gonna take this money out of my raw thirty seven

1598
01:10:31.920 --> 01:10:33.159
year I'm gonna take the money out of my ros

1599
01:10:33.199 --> 01:10:37.079
because it hasn't done anything. It is tripled. It is tripled.

1600
01:10:37.239 --> 01:10:38.960
It gave us two thousand dollars just now sick.

1601
01:10:39.039 --> 01:10:41.760
Yeah, think about you. It can grow for another thirty years. Yeah,

1602
01:10:41.760 --> 01:10:44.119
I mean an a tax compounded freak account.

1603
01:10:44.199 --> 01:10:47.359
It hasn't done anything because you gave us nothing to

1604
01:10:47.439 --> 01:10:50.640
start with. Right, it's tripled. Its kind of true. Number

1605
01:10:50.640 --> 01:10:53.720
two lack of risk management. There you go, okay, so

1606
01:10:53.800 --> 01:10:57.279
that that definitely something that we do. Number three disposition errors.

1607
01:10:57.279 --> 01:11:00.439
You want to sell your losers and excuse me, you

1608
01:11:00.439 --> 01:11:02.520
want to hold your losers and sell your winners.

1609
01:11:02.720 --> 01:11:04.319
That's biases of what.

1610
01:11:05.920 --> 01:11:07.560
Sell your losers and hold your winners.

1611
01:11:07.600 --> 01:11:09.359
Well, I think a part of that is like anchoring

1612
01:11:09.520 --> 01:11:12.079
and you know, self confirmation bias. There's a lot of

1613
01:11:12.079 --> 01:11:15.760
these like psychological things that kind of get in the

1614
01:11:15.800 --> 01:11:17.560
way of being a good investor. We talk about it

1615
01:11:17.600 --> 01:11:18.880
all the time, David. If you could just do the

1616
01:11:18.880 --> 01:11:20.840
exact opposite of what you're thinking, you'd be a millionaire.

1617
01:11:20.920 --> 01:11:25.399
Yeah, that's for me for sure. And lastly, public service announcement.

1618
01:11:25.439 --> 01:11:27.279
I said a few weeks ago, it's going to be

1619
01:11:27.279 --> 01:11:29.279
one hundred degrees. Well now it's a hundred degrees. It's

1620
01:11:29.279 --> 01:11:31.520
going to stay one hundred degrees for the next ninety days.

1621
01:11:32.319 --> 01:11:35.199
We appreciate all of our winter visitors and what they

1622
01:11:35.199 --> 01:11:37.399
do for our economy, but it's time to go home.

1623
01:11:37.960 --> 01:11:42.439
And my wife's tells who who works in retail furniture

1624
01:11:42.520 --> 01:11:45.640
sales says they're not going home. They moved here and

1625
01:11:45.680 --> 01:11:47.760
when I set a stop lights for three and four

1626
01:11:47.840 --> 01:11:51.319
cycles in late May. I'm thinking I think she might

1627
01:11:51.319 --> 01:11:54.600
be right. I think they did move here. I don't

1628
01:11:54.600 --> 01:11:56.920
think they're going home anyway. We'll be back with the

1629
01:11:56.920 --> 01:11:59.680
next segment of The Money Matter Show. Happy tomorrow, Marrow Day.

1630
01:11:59.680 --> 01:12:02.720
We can thank you for taking time to listen to us.

1631
01:12:03.199 --> 01:12:05.640
Welcome back to The Money Matter Show, the Memorial Day

1632
01:12:05.680 --> 01:12:09.239
weekend edition. We hope you're all enjoying yourselves out there again.

1633
01:12:09.279 --> 01:12:11.199
We take a little time to thank those who gave

1634
01:12:11.239 --> 01:12:14.399
their lives for for us, so we appreciate.

1635
01:12:13.920 --> 01:12:18.920
That we had a big week this week. Colationary Assets.

1636
01:12:19.000 --> 01:12:20.600
I almost where I was headed, you know, I had

1637
01:12:20.640 --> 01:12:24.800
to go. Yeah, no, Bitcoin, what a week?

1638
01:12:25.079 --> 01:12:27.800
What a call? Last week? You said on this show,

1639
01:12:28.279 --> 01:12:31.640
and you said, it feels to me like Bitcoin's going

1640
01:12:31.720 --> 01:12:34.800
to break out. Huh, good call.

1641
01:12:34.960 --> 01:12:37.039
You get lucky every now and then. But I've been

1642
01:12:37.079 --> 01:12:39.560
watching that chart since that was the first chart I've

1643
01:12:39.560 --> 01:12:41.520
ever seen in my entire life, back when I was

1644
01:12:41.560 --> 01:12:43.199
sixteen years old, so long.

1645
01:12:43.039 --> 01:12:44.319
Ago, but.

1646
01:12:45.760 --> 01:12:46.479
Two years ago.

1647
01:12:48.680 --> 01:12:50.760
But yeah, no, bitcoin is the thing that started my

1648
01:12:50.800 --> 01:12:53.199
whole journey into finance. Oh yeah, yeah, I did. It

1649
01:12:53.239 --> 01:12:56.920
was it sparked what I didn't know what anything was

1650
01:12:56.920 --> 01:12:59.239
at the time. Of course, you're just it's a casino

1651
01:12:59.359 --> 01:13:01.840
and that's how you start. And then I learned everything

1652
01:13:01.840 --> 01:13:02.199
from there.

1653
01:13:02.560 --> 01:13:03.920
Kind of captured your imagination.

1654
01:13:04.119 --> 01:13:05.720
Yeah, the first time I saw a chart on it,

1655
01:13:05.800 --> 01:13:08.520
I was just no, that's it. So it's been really

1656
01:13:08.520 --> 01:13:10.680
fun to follow it throughout the years. It's been following

1657
01:13:10.720 --> 01:13:12.319
out for about eight years.

1658
01:13:12.359 --> 01:13:14.039
Can I just say I've known Todd for a long time.

1659
01:13:14.079 --> 01:13:19.119
It's been remarkable to watch Todd follow bitcoin. He's learned

1660
01:13:19.279 --> 01:13:21.079
quite a ton of it, you.

1661
01:13:20.960 --> 01:13:23.800
Know, so much. Again, I've been on it, this thing

1662
01:13:23.840 --> 01:13:26.560
since the six thousand and I was telling my teachers

1663
01:13:26.600 --> 01:13:28.720
back in high school, I would be posting to people.

1664
01:13:28.960 --> 01:13:33.359
I was a financial advisor before I was licensed kidding,

1665
01:13:33.359 --> 01:13:40.119
I'm kidding regulators. Yeah, I did not take anybody, no,

1666
01:13:40.279 --> 01:13:42.840
but seriously, I mean it was. It was really fun

1667
01:13:42.920 --> 01:13:45.279
to learn the whole thing. And now you see it

1668
01:13:45.600 --> 01:13:48.079
it's at a place where people back when I was

1669
01:13:48.079 --> 01:13:50.720
trying to get over ten thousand, people said one hundred thousand,

1670
01:13:50.760 --> 01:13:53.399
you're a lunatic, and it's actually there now one hundred

1671
01:13:53.399 --> 01:13:56.760
and twelve. We might see I've been saying it for

1672
01:13:56.800 --> 01:13:59.239
a while now. One twenty is my target for where

1673
01:13:59.279 --> 01:14:02.399
you start selling. Fifty is where you you probably sold

1674
01:14:02.439 --> 01:14:05.039
a lot. But this thing is very valatile. I'm telling

1675
01:14:05.079 --> 01:14:07.279
you can easily get back down to sixty thousand, and

1676
01:14:07.319 --> 01:14:09.279
you have to be okay with that if you want

1677
01:14:09.279 --> 01:14:10.119
to be in this class.

1678
01:14:10.319 --> 01:14:14.199
Yeah, I've noticed those people that are successful with bitcoin.

1679
01:14:14.279 --> 01:14:16.640
You just have to ignore it and you have to

1680
01:14:16.680 --> 01:14:19.600
have kind of that blind faith that it's going to

1681
01:14:19.640 --> 01:14:20.119
be okay.

1682
01:14:20.479 --> 01:14:23.000
It's kind of like a religions faith, like.

1683
01:14:25.199 --> 01:14:28.680
You know, Page and I got faith and don't ask questions,

1684
01:14:28.800 --> 01:14:31.920
kind of like bitcoin, H Jesus and bitcoin. I wonder

1685
01:14:32.000 --> 01:14:32.319
how that.

1686
01:14:32.359 --> 01:14:34.880
Another thing that's that's going really well is gold. This

1687
01:14:35.000 --> 01:14:38.000
week gold was up one hundred and sixty bucks to

1688
01:14:38.239 --> 01:14:39.680
thirty three fifty seven.

1689
01:14:39.800 --> 01:14:41.399
Can regain a lost last week?

1690
01:14:41.479 --> 01:14:44.239
Yes, and but I think again, both of these asset classes,

1691
01:14:44.279 --> 01:14:46.600
when I looked back on the week analyzed everything, why

1692
01:14:46.600 --> 01:14:48.880
did they go up? This one I think was pretty clear.

1693
01:14:49.079 --> 01:14:51.960
It was a one big, beautiful bill, a lot of

1694
01:14:51.960 --> 01:14:56.119
irresponsible fiscal money that's going to be pushed into the system.

1695
01:14:56.279 --> 01:15:00.680
What happens to that inflation? Inflationary assets hedges like gold

1696
01:15:00.680 --> 01:15:02.439
and bitcoin are going to benefit, So I think we

1697
01:15:02.520 --> 01:15:04.920
saw that this week. In my opinion, gold.

1698
01:15:04.640 --> 01:15:08.359
Has historically been a terrible inflation I agree. I agree

1699
01:15:08.800 --> 01:15:11.359
because and the reason for that is gold's priced in dollars,

1700
01:15:11.680 --> 01:15:13.880
so typically when you have inflation, the dollar goes up,

1701
01:15:13.880 --> 01:15:16.399
the gold goes down. So there's been a terrible inflation Hedge.

1702
01:15:16.680 --> 01:15:19.880
I think it's more maybe the central government buying that

1703
01:15:19.920 --> 01:15:21.800
you've been talking about for a while, which I think

1704
01:15:21.800 --> 01:15:24.960
there's some validity to that. They may have said, Okay,

1705
01:15:24.960 --> 01:15:26.479
it's down for two weeks in a row. Now it's

1706
01:15:26.479 --> 01:15:29.399
gone down ten percent, let's let's buy some more, right,

1707
01:15:30.119 --> 01:15:33.680
or I've noticed it. Gold tends to rally when the

1708
01:15:33.720 --> 01:15:36.479
market sells off. It tends to be kind of a

1709
01:15:36.520 --> 01:15:37.720
contrary in indicator.

1710
01:15:37.760 --> 01:15:39.199
This is another thing I want to talk about. Bitcoin

1711
01:15:39.359 --> 01:15:42.920
is really fascinating. Bitcoin is now bigger than Amazon. There's

1712
01:15:42.960 --> 01:15:47.079
only a couple companies bigger than bitcoin, Apple, Navidia, Microsoft,

1713
01:15:47.680 --> 01:15:50.199
the only companies bigger in market cap, bigger than bitcoin.

1714
01:15:50.479 --> 01:15:52.680
Bitcoin is not a company, people, No one runs it.

1715
01:15:52.680 --> 01:15:54.880
It is a decentralized network. Don't worry, it's like gold.

1716
01:15:54.960 --> 01:15:56.880
Think about it like gold, because gold market cap. Guess

1717
01:15:56.920 --> 01:16:02.039
what Gold's market cap is Dave two trillion, Bitcoin's two trillion.

1718
01:16:02.520 --> 01:16:05.520
Twenty two trillion is the amount of gold that's in

1719
01:16:05.600 --> 01:16:09.479
circulation or how are you measuring that? The value of

1720
01:16:09.520 --> 01:16:13.880
all the gold, all the gold ever known, the inventory?

1721
01:16:13.920 --> 01:16:16.039
I mean, obviously there's more out there. No, I think

1722
01:16:16.039 --> 01:16:18.720
you could make a solid case that bitcoin is in

1723
01:16:18.800 --> 01:16:20.239
its infancy.

1724
01:16:20.079 --> 01:16:22.439
Right, And I'm leading up to this question of saying,

1725
01:16:22.960 --> 01:16:27.279
you've heard some crazy calls about gold's say five thousand,

1726
01:16:27.840 --> 01:16:32.399
and then bitcoin crazy call two hundred thousand. Which one

1727
01:16:32.479 --> 01:16:35.239
gets there first? You know? And I think because of

1728
01:16:35.279 --> 01:16:38.600
the world we're headed into, unless there's some apocalypse, I mean,

1729
01:16:38.640 --> 01:16:41.800
I don't think digital gold is going to be the

1730
01:16:41.880 --> 01:16:44.399
second in the race on the long period of time.

1731
01:16:45.000 --> 01:16:49.119
There's so little interest in bitcoin as a percentage of

1732
01:16:49.199 --> 01:16:55.000
all investors that there's a ton of additional investors to join.

1733
01:16:56.479 --> 01:16:59.479
I don't. I don't know. It's it's something that you

1734
01:16:59.520 --> 01:17:01.319
certainly would and put your life savings in it.

1735
01:17:02.239 --> 01:17:05.399
Let me ask you this, just very if energy costs

1736
01:17:05.439 --> 01:17:08.079
were to decrease, would that, in theory bring bitcoin down?

1737
01:17:10.600 --> 01:17:14.920
It could, But at the same time governments could not

1738
01:17:15.119 --> 01:17:19.319
keep increasing inflation, right, I mean, it's it's a tandem effect.

1739
01:17:19.319 --> 01:17:21.760
And the cost of energy has to do with the

1740
01:17:21.840 --> 01:17:24.760
money supply, right, I mean that's we're we're literally talking

1741
01:17:24.880 --> 01:17:27.920
is denominated in dollars, So the cost of the energy

1742
01:17:27.960 --> 01:17:30.199
would in theory always inflate unless we get our physical

1743
01:17:30.239 --> 01:17:31.960
responsibility in line.

1744
01:17:32.039 --> 01:17:32.159
Right.

1745
01:17:32.199 --> 01:17:33.800
And the reason that I asked that is because you know,

1746
01:17:33.840 --> 01:17:36.359
the intrinsic value of bitcoin is what is the energy

1747
01:17:36.399 --> 01:17:37.760
it takes to produce it?

1748
01:17:37.960 --> 01:17:38.119
Right?

1749
01:17:38.199 --> 01:17:41.359
Yes, I mean it's also intrinsically a technology of a

1750
01:17:41.399 --> 01:17:44.279
store value, right, And the way it backs it up

1751
01:17:44.359 --> 01:17:47.600
is the cost to actually confirm.

1752
01:17:47.720 --> 01:17:49.399
Well, the other thing it's just gone. You talk about

1753
01:17:49.439 --> 01:17:52.960
intrinsic value that's gone from ten dollars to one hundred

1754
01:17:52.960 --> 01:17:55.119
and twenty or to one hundred and twelve thousand, right,

1755
01:17:56.000 --> 01:17:58.039
I promise you energy has not increased that.

1756
01:17:58.159 --> 01:18:00.479
No, no intrinsic they actually say this. I think it's

1757
01:18:00.520 --> 01:18:02.720
only like forty I have to look it up. There

1758
01:18:02.800 --> 01:18:05.399
is an actual cost, and it's normally lower than the

1759
01:18:05.399 --> 01:18:07.760
actual price. There is normal normally a premium.

1760
01:18:07.760 --> 01:18:09.680
So what's the additional But well, but.

1761
01:18:09.880 --> 01:18:10.960
Now here's the interesting part.

1762
01:18:10.960 --> 01:18:11.119
Though.

1763
01:18:11.159 --> 01:18:15.479
At at some point in the near future, we're going

1764
01:18:15.560 --> 01:18:18.640
to have mined all the bitcoin that there are available.

1765
01:18:18.239 --> 01:18:21.039
Period about twenty one thirty. I think it is the

1766
01:18:21.760 --> 01:18:24.079
twenty one thirty yeah, so still about one hundred years away.

1767
01:18:24.119 --> 01:18:27.399
But really yeah, because the way compounding works again, it

1768
01:18:27.399 --> 01:18:29.079
works on the other side. They keep having it right,

1769
01:18:29.119 --> 01:18:30.840
So know for a while.

1770
01:18:31.239 --> 01:18:33.279
Nic see okay that I didn't think about the having

1771
01:18:33.479 --> 01:18:35.680
yeah yeah, when's the next having.

1772
01:18:35.439 --> 01:18:37.720
To do it every four years? So now twenty twenty.

1773
01:18:37.399 --> 01:18:39.199
Four years having yeah, and.

1774
01:18:39.079 --> 01:18:41.479
When again we talked about this, how every happening you

1775
01:18:41.560 --> 01:18:44.359
get a little big bull run. Yep again it happened again.

1776
01:18:44.640 --> 01:18:47.079
So I don't know why or how there's something about

1777
01:18:47.079 --> 01:18:50.319
deflationary economics that makes things go up because we saw

1778
01:18:50.319 --> 01:18:52.720
it and it happened in twenty twelve when it first

1779
01:18:52.720 --> 01:18:54.880
came out sixteen twenty twenty four.

1780
01:18:55.800 --> 01:18:57.880
And you don't need to open a coin based account.

1781
01:18:58.000 --> 01:19:00.840
You don't need to actually own bitcoin. There our ETFs

1782
01:19:00.920 --> 01:19:03.640
now exchange traded funds. If you wanted to put you know,

1783
01:19:03.720 --> 01:19:06.760
a few thousand dollars in your account and bitcoin just

1784
01:19:06.800 --> 01:19:10.439
to have some fun, you can do that. It's real simple,

1785
01:19:10.800 --> 01:19:13.800
easy to get in, easy to get out. The ETFs

1786
01:19:13.840 --> 01:19:16.039
are very good at mimicking the movement in bitcoin.

1787
01:19:16.119 --> 01:19:18.520
We even have structured products that protect you on some

1788
01:19:18.600 --> 01:19:21.920
downside where they aim to of course, and it's something

1789
01:19:21.920 --> 01:19:25.319
that has we can get up to twenty twenty percent

1790
01:19:26.439 --> 01:19:28.720
like max downside, or you can get somebod that has

1791
01:19:28.760 --> 01:19:31.159
no downside other than the expense ratio of the fund.

1792
01:19:31.479 --> 01:19:34.000
So then you can still participate with bitcoin on that

1793
01:19:34.119 --> 01:19:36.119
level if you don't want the same volatility it comes

1794
01:19:36.159 --> 01:19:38.239
with it. But I had a client ask me, what

1795
01:19:38.319 --> 01:19:40.880
do you think gold, bitcoin, these things are going crazy

1796
01:19:40.960 --> 01:19:43.960
right now? Should we have this as a risk hedge

1797
01:19:44.000 --> 01:19:46.039
against the dollar if this continues over the next ten

1798
01:19:46.079 --> 01:19:48.680
to fifteen twenty years, And I said, you know, maybe

1799
01:19:48.720 --> 01:19:51.279
you know you have three to five percent of a

1800
01:19:51.359 --> 01:19:54.880
portfolio mixed up in that basket because if for some

1801
01:19:54.920 --> 01:19:58.159
reason the dollar continues to devalue, that five percent should

1802
01:19:58.159 --> 01:20:00.840
turn into ten over time, and I will help offset

1803
01:20:00.880 --> 01:20:03.600
the loss of whatever may happen that you're talking about.

1804
01:20:03.680 --> 01:20:05.960
But I don't think you go in and say I'm

1805
01:20:06.000 --> 01:20:08.920
going to bat all the horses in the carriage on

1806
01:20:09.199 --> 01:20:11.880
the world taking a one to eighty turn, because it's

1807
01:20:11.880 --> 01:20:14.479
gonna take a long long time for that ever to happen.

1808
01:20:14.520 --> 01:20:18.159
Oh, Jamie Diamond, the CEO of JP Morgan Chase has

1809
01:20:18.239 --> 01:20:22.600
been one of the biggest critics of bitcoin from the

1810
01:20:22.640 --> 01:20:27.079
get go, all kinds of names, and now we learned

1811
01:20:27.079 --> 01:20:30.640
it last week. JP Morgan Chase is finally allowing clients

1812
01:20:30.640 --> 01:20:31.359
to buy bitcoin.

1813
01:20:31.439 --> 01:20:33.079
Wow, and this is fascinating. You know, I just looked

1814
01:20:33.119 --> 01:20:36.800
up the cost to mind bitcoin. The average global cost

1815
01:20:36.880 --> 01:20:39.399
right now is eighty nine nine hundred and fifty three dollars.

1816
01:20:39.680 --> 01:20:42.560
Now that's the cost in terms of energy.

1817
01:20:42.520 --> 01:20:45.239
Yeah, yeah, to the energy it costs. But this is

1818
01:20:45.319 --> 01:20:48.079
very interesting and I ran it only costs one three

1819
01:20:48.159 --> 01:20:50.920
hundred and twenty four dollars per bitcoin due to subsidized

1820
01:20:50.960 --> 01:20:54.479
electricity they pay for it. For Ireland, it would cost

1821
01:20:54.479 --> 01:20:57.039
you three hundred and twenty one thousand dollars to mind

1822
01:20:57.079 --> 01:20:59.880
a bitcoin because of how expensive their energy is. So

1823
01:21:00.279 --> 01:21:02.760
you could just see why people are in Texas versus

1824
01:21:02.760 --> 01:21:03.840
other parts of the country.

1825
01:21:03.880 --> 01:21:05.560
Like, it's very right.

1826
01:21:05.560 --> 01:21:08.319
This bitcoin. It finds the cheapest energy in the world.

1827
01:21:08.680 --> 01:21:10.479
And that's what I think is really interesting. It's a

1828
01:21:10.479 --> 01:21:13.079
whole network that scours the world for the cheapest energy.

1829
01:21:13.279 --> 01:21:15.199
And we're even seeing this with some of the places

1830
01:21:15.199 --> 01:21:17.720
that mine oil and they have, you know, energy that

1831
01:21:17.720 --> 01:21:19.479
there's burning off into the air because they can't bring

1832
01:21:19.520 --> 01:21:22.000
into the market. That's bad oil. But they can build

1833
01:21:22.000 --> 01:21:24.479
a bitcoin minor right there and it will use that

1834
01:21:24.680 --> 01:21:27.760
energy and at least produces some bitcoin that helps offset

1835
01:21:27.800 --> 01:21:29.880
the cost of the project. So there's a lot of

1836
01:21:29.920 --> 01:21:33.720
interesting renewable things you could help build into the network too.

1837
01:21:33.920 --> 01:21:36.239
Dave, if somebody asked you ten or fifteen years ago,

1838
01:21:36.479 --> 01:21:39.199
will there be a bitcoin ETF, what would you say?

1839
01:21:39.279 --> 01:21:42.119
No, absolutely not. In fact, I would you would even

1840
01:21:42.119 --> 01:21:45.000
know what it is right that bitcoin would have gone

1841
01:21:45.079 --> 01:21:45.600
under right now.

1842
01:21:45.640 --> 01:21:47.680
So that's what I mean. Like the fact that there's

1843
01:21:47.840 --> 01:21:50.920
ets out there, there's two times three times leverage products

1844
01:21:50.920 --> 01:21:53.640
for bitcoin, there's inverse products. You know, it's just more

1845
01:21:53.680 --> 01:21:56.479
and more getting adopted, and that's only going to get

1846
01:21:57.640 --> 01:21:59.600
extrapolated through the next couple of years.

1847
01:21:59.600 --> 01:22:02.920
I'd say, I guess my only my only concern about bitcoin,

1848
01:22:03.000 --> 01:22:04.560
or the thing that kind of is always in the

1849
01:22:04.640 --> 01:22:07.079
back of my mind, is there really has nothing to

1850
01:22:07.119 --> 01:22:09.840
do with it. I mean, it's not it's not a

1851
01:22:10.079 --> 01:22:11.800
you can't do anything with bitcoin.

1852
01:22:11.479 --> 01:22:12.000
That's what I mean.

1853
01:22:12.359 --> 01:22:15.000
That's what I mean about the dollar though, right, That's

1854
01:22:15.039 --> 01:22:15.319
what I mean.

1855
01:22:15.359 --> 01:22:17.760
Over the next that's what you can do with bitcoin,

1856
01:22:18.159 --> 01:22:19.159
not easily.

1857
01:22:19.439 --> 01:22:22.079
Right, So ten years ago you could buy a bitcoin ETF.

1858
01:22:22.159 --> 01:22:23.560
But what if in ten years I could just go

1859
01:22:23.560 --> 01:22:25.880
to Walmart and hey with my bitcoin, just like that happened.

1860
01:22:26.159 --> 01:22:29.479
I'm not just no, no, no, I completely missed it.

1861
01:22:29.840 --> 01:22:31.840
I've got this friend I hike with on Tuma Mak

1862
01:22:31.840 --> 01:22:34.359
who's about my age, and he's got seven bitcoin at

1863
01:22:34.399 --> 01:22:38.640
an average price of seventeen thousand dollars. Where was I?

1864
01:22:38.880 --> 01:22:40.720
You know, he didn't. He's got a nice four to

1865
01:22:40.800 --> 01:22:43.520
one cage, a retired executive from a utility company up

1866
01:22:43.560 --> 01:22:45.840
in the Northwest, but he didn't need his bitcoin, so

1867
01:22:45.920 --> 01:22:47.239
he it doesn't matter.

1868
01:22:47.520 --> 01:22:49.039
I just wish I was born earlier.

1869
01:22:49.760 --> 01:22:52.640
Yeah, you know, because I feel like I was born earlier.

1870
01:22:52.720 --> 01:22:55.199
Could happen to be old and I could pick on you, right.

1871
01:22:55.560 --> 01:22:57.039
But I'm just saying, you know, you look back at

1872
01:22:57.159 --> 01:22:58.600
at bitcoin, I'm like, I wish I could have bought

1873
01:22:58.600 --> 01:22:59.880
it for one hundred bucks. That'd be cool.

1874
01:23:00.039 --> 01:23:01.039
Yeah, how about ten bucks?

1875
01:23:01.680 --> 01:23:02.119
Even better?

1876
01:23:02.199 --> 01:23:03.800
First came out, I could have bought could have bought

1877
01:23:03.840 --> 01:23:05.439
it for ten bucks. Of course you would have had

1878
01:23:05.479 --> 01:23:07.319
to open a coin base account and the whole thing

1879
01:23:07.720 --> 01:23:12.079
is I don't think based specific if you to open

1880
01:23:12.119 --> 01:23:15.159
a cryptocount, and it was a crazy world. It was

1881
01:23:15.239 --> 01:23:18.359
literally literally literal mystery to me when it came out,

1882
01:23:18.399 --> 01:23:20.920
and I thought it was pine the sky silliness.

1883
01:23:21.079 --> 01:23:22.119
And people still think that.

1884
01:23:23.119 --> 01:23:25.840
The majority of people do the majority of people, And

1885
01:23:25.840 --> 01:23:29.079
that's why I'm saying there is still a lot of

1886
01:23:29.239 --> 01:23:35.159
potential investors as it gets more and more legitimate, so

1887
01:23:35.199 --> 01:23:37.079
that that's something that could drive it. That was an

1888
01:23:37.239 --> 01:23:42.039
interesting aside. We talked about the rate cuts and Trump's

1889
01:23:42.039 --> 01:23:44.079
wanting a bunch of them, and we talked about how

1890
01:23:44.079 --> 01:23:46.079
important it is to have a lower interest rates to

1891
01:23:46.720 --> 01:23:49.720
try to get this budget deficit under control federal government.

1892
01:23:50.239 --> 01:23:54.800
Fed governor last week said that he sees only one

1893
01:23:55.680 --> 01:23:58.760
this year and that probably later this year. Coming into

1894
01:23:58.800 --> 01:24:02.800
this year, we're thinking four or five. And so if

1895
01:24:02.840 --> 01:24:04.840
you're only going to get one rate cut, if that

1896
01:24:05.680 --> 01:24:08.199
and it's gonna be later this year, I'm kind of

1897
01:24:08.199 --> 01:24:10.079
with a fat It's hard for them to tell what

1898
01:24:10.119 --> 01:24:13.279
to do with the tariff tantrums are so up and

1899
01:24:13.359 --> 01:24:15.239
everything's up in the air right now. A lot of

1900
01:24:15.399 --> 01:24:18.039
forward guidance to We'll be back with the final segment

1901
01:24:18.119 --> 01:24:20.039
right after this masters, thanks again for joining us.

1902
01:24:21.000 --> 01:24:22.800
Welcome back to the Money Matter Show. This is the

1903
01:24:22.880 --> 01:24:24.840
last segment. My name is Todd Glick. I'm here with

1904
01:24:24.880 --> 01:24:28.479
Sebastian Borsini and David Sherwood. If you haven't caught us

1905
01:24:28.560 --> 01:24:31.760
on the NBC gave youa channel, We're there on the

1906
01:24:31.800 --> 01:24:35.239
mornings and in the nighttime after the ten o'clock news.

1907
01:24:35.319 --> 01:24:36.800
If you miss the shows, though, you can always go

1908
01:24:36.800 --> 01:24:40.039
to our website. Sebastian posts them mostly every week of

1909
01:24:40.079 --> 01:24:42.760
the new ones that you can access any time. I

1910
01:24:42.800 --> 01:24:45.800
also put out my weekly market update, where it's a

1911
01:24:45.880 --> 01:24:47.680
quick two to three minute video of what happened in

1912
01:24:47.720 --> 01:24:50.359
the week. I got a Facebook page where we post

1913
01:24:50.359 --> 01:24:52.319
those things as well. If you want to get some

1914
01:24:52.359 --> 01:24:55.079
more information about just what's going on in the markets.

1915
01:24:55.119 --> 01:24:56.960
We have a monthly newsletter that you can sign up

1916
01:24:57.000 --> 01:25:00.000
for if you go to our website, Greenberg Financial dot com.

1917
01:25:00.279 --> 01:25:01.920
And if you ever want to get in touch with us,

1918
01:25:01.960 --> 01:25:04.039
an easy way to do guys, also go into the website.

1919
01:25:04.119 --> 01:25:06.399
If you ever miss our radio show, you can go

1920
01:25:06.439 --> 01:25:08.680
to the website as well and click that little microphone

1921
01:25:08.880 --> 01:25:11.600
icon and I'll send you to our podcast page, where

1922
01:25:11.760 --> 01:25:13.760
have all the different podcasts. You can listen it to

1923
01:25:13.920 --> 01:25:18.119
all the different services and all of our old podcasts

1924
01:25:18.399 --> 01:25:20.079
that you can go back and listen to anytime if

1925
01:25:20.119 --> 01:25:21.560
you really love us and the.

1926
01:25:21.600 --> 01:25:23.439
First time you've ever heard us and just kind of

1927
01:25:23.439 --> 01:25:25.279
wonder what we're all about. All of the like touch

1928
01:25:25.359 --> 01:25:27.079
that all of the past shows are there on our

1929
01:25:27.119 --> 01:25:30.720
website Greenberg Financial dot com and just click on the

1930
01:25:30.760 --> 01:25:32.760
mic and a way to go. That's the interesting story

1931
01:25:32.800 --> 01:25:35.800
out of GM this past week. It ends higher on

1932
01:25:35.840 --> 01:25:40.319
Tuesday on a report that cadillacs expanded all electric vehicle

1933
01:25:40.359 --> 01:25:45.039
lineup is attracting a notable number of new buyers, including

1934
01:25:45.439 --> 01:25:48.960
an increase in Tesla owners who are trading their avs.

1935
01:25:49.720 --> 01:25:56.199
Ten percent of Cadillacs sales are ev Tesla owners trading

1936
01:25:56.239 --> 01:26:00.000
their or a Cadillac. They claim that their new Lyrics

1937
01:26:00.680 --> 01:26:04.079
has a range of four hundred and fifty miles. Now

1938
01:26:04.119 --> 01:26:08.439
that's versus Tesla's three hundred miles. If you've heard me

1939
01:26:08.479 --> 01:26:10.760
talk before, I've had a Tesla for two years right

1940
01:26:10.800 --> 01:26:14.720
now under absolute optimal conditions, and I mean your air

1941
01:26:14.800 --> 01:26:17.000
co insurance is not running, the radio is not running,

1942
01:26:17.439 --> 01:26:21.279
straight road, you're on flat ground. Seventy two degrees, there's

1943
01:26:21.319 --> 01:26:25.680
no wind. My three hundred mile model, I might get

1944
01:26:25.960 --> 01:26:30.119
to sixty might in the summertime with the air conditioner

1945
01:26:30.199 --> 01:26:35.159
blasting and the heat on, more like one sixty with

1946
01:26:35.239 --> 01:26:39.039
a three hundred mile range. With that said, if they're

1947
01:26:39.159 --> 01:26:42.000
advertising a four hundred and fifty mile range, you would

1948
01:26:42.000 --> 01:26:45.680
think that it's going to be at least three hundred hope,

1949
01:26:45.800 --> 01:26:49.119
which which is better than anything out there. And I

1950
01:26:49.119 --> 01:26:53.119
will tell you that an all electric with superior range

1951
01:26:53.399 --> 01:26:58.039
is going to sell. Whether you're a Cadillac, a Kia,

1952
01:26:58.560 --> 01:27:03.560
a Toyota, it doesn't matter. And all electric with superior

1953
01:27:03.800 --> 01:27:06.359
range is going to outsell everything.

1954
01:27:06.479 --> 01:27:09.520
It's like what Navidia has with the Blackwell chip.

1955
01:27:09.680 --> 01:27:12.880
Yes, yes, I agree with you. I agree with you.

1956
01:27:12.880 --> 01:27:16.359
See where Nike is really desperate that they they've gone

1957
01:27:16.399 --> 01:27:19.039
back to Amazon. Can you help us out here, we're

1958
01:27:19.079 --> 01:27:22.600
really dying. Yeah. One of the worst performing dallastocks Nike.

1959
01:27:22.720 --> 01:27:25.199
They went off of Amazon in twenty nineteen. Yeah, we

1960
01:27:25.239 --> 01:27:26.039
don't need you, guys.

1961
01:27:25.920 --> 01:27:28.079
That's what I'm saying. Dix is gonna lose their Nike products.

1962
01:27:28.079 --> 01:27:28.800
What do they do then?

1963
01:27:29.600 --> 01:27:32.640
Well, I think I think Dick's Sporting Goods has performed

1964
01:27:32.640 --> 01:27:34.439
so well because they don't just sell Nike.

1965
01:27:34.840 --> 01:27:39.159
Well I get that, but goodness, Grace, Nike's like everything there.

1966
01:27:39.199 --> 01:27:40.880
What I want to talk about in the footwear space

1967
01:27:40.880 --> 01:27:44.600
as well happened on Friday. Decor down twenty percent. How

1968
01:27:44.600 --> 01:27:47.159
about that really not doing too bad other than the

1969
01:27:47.159 --> 01:27:50.359
fact that they didn't give the quarter one twenty six

1970
01:27:50.399 --> 01:27:53.840
sales guidance that the investors want shares job nearly twenty

1971
01:27:54.319 --> 01:27:54.880
big drop.

1972
01:27:55.039 --> 01:27:57.439
We're saying we're seeing big hits on companies that are

1973
01:27:57.479 --> 01:28:01.000
coming out with pretty good earnings reports but being cautious

1974
01:28:01.000 --> 01:28:04.079
about the future. And if I'm running a publicly traded

1975
01:28:04.119 --> 01:28:08.159
company with all of the class action lawsuits flying around

1976
01:28:08.479 --> 01:28:13.279
in this world, I'm gonna give cautious guidance too. I mean,

1977
01:28:13.680 --> 01:28:18.359
how could you give aggressive guidance in this environment? You know,

1978
01:28:18.479 --> 01:28:19.119
I don't get it.

1979
01:28:19.199 --> 01:28:21.199
You know a company we talked about for a while,

1980
01:28:21.199 --> 01:28:22.880
and it's in the nuclear space. We talked about the

1981
01:28:23.119 --> 01:28:27.079
ETF but Oaklow remember Oakloh Yeah, ol Man, I mean,

1982
01:28:27.079 --> 01:28:29.399
we didn't talk about that thing since thirteen dollars. It's

1983
01:28:29.399 --> 01:28:30.520
now forty.

1984
01:28:30.159 --> 01:28:32.520
Eight, forty eight, forty eight dollars.

1985
01:28:32.920 --> 01:28:37.880
This is the company that sam U s All movement right,

1986
01:28:37.880 --> 01:28:40.119
but it picked up what ten bucks on Friday. Yeah,

1987
01:28:40.159 --> 01:28:43.000
obviously with the executive orders because the Trump is trying

1988
01:28:43.039 --> 01:28:45.319
to help that space and saying I'm cutting all the

1989
01:28:45.359 --> 01:28:47.000
red tape, helping you do what you need to do.

1990
01:28:47.359 --> 01:28:50.520
So those nuclear stocks got a really big bounce. Obviously,

1991
01:28:50.520 --> 01:28:52.159
we saw that earlier in the week because of the

1992
01:28:52.279 --> 01:28:55.000
one big Beautiful bill, but that continued with the executive

1993
01:28:55.079 --> 01:28:55.720
order signings.

1994
01:28:55.720 --> 01:28:58.000
One thing we've seen over the past few weeks is

1995
01:28:58.039 --> 01:29:00.760
this system of checks and bound says we have that

1996
01:29:00.800 --> 01:29:03.359
we've talked about that that ought to give people on

1997
01:29:03.399 --> 01:29:06.000
the left at least to some peace of mind. Absolutely,

1998
01:29:06.560 --> 01:29:09.479
because Trump Trump can want to do this, want to

1999
01:29:09.520 --> 01:29:11.399
do that. All they've got to do is file lost

2000
01:29:11.439 --> 01:29:15.000
it to Harvard thing. Uh. They filed that lost it

2001
01:29:15.159 --> 01:29:18.560
Friday morning, and they got an injunction at noon on

2002
01:29:18.640 --> 01:29:25.159
Friday against the Trump uh prohibiting these foreign students. That's

2003
01:29:25.199 --> 01:29:28.600
the system of checks and balances we have, where you

2004
01:29:28.600 --> 01:29:31.399
you can't do something crazy. Trump's I'm gone, I'm gonna

2005
01:29:31.399 --> 01:29:33.920
lower all the prescription drug prices to what they were

2006
01:29:34.199 --> 01:29:36.479
what they are. Another, he can't do that, you know,

2007
01:29:36.560 --> 01:29:41.119
he can't do that. It requires Congress. So if you're

2008
01:29:41.199 --> 01:29:45.159
not a fan of President Trump's, there are checks and

2009
01:29:45.239 --> 01:29:47.960
balances out there and you ought to take some solid

2010
01:29:48.000 --> 01:29:50.399
Did you see that COVID was back in the news

2011
01:29:50.479 --> 01:29:56.319
this past we called get ball ov Yeah, it was

2012
01:29:56.359 --> 01:30:00.920
back in the MODERNA and phizers is this is this

2013
01:30:00.960 --> 01:30:04.520
is funny modern adviser both rose on Tuesday after the

2014
01:30:04.640 --> 01:30:09.319
f d A outline new regulatory guidance for future COVID

2015
01:30:09.359 --> 01:30:12.199
vaccine boosters. Now the FDA records are.

2016
01:30:12.119 --> 01:30:13.119
Still giving boosters out.

2017
01:30:13.199 --> 01:30:13.399
Yeah.

2018
01:30:13.439 --> 01:30:14.479
Here here's the funny party.

2019
01:30:14.680 --> 01:30:18.720
The FDA recommended stronger standards of evidence for approval based

2020
01:30:18.760 --> 01:30:21.399
upon the patient's risks. This is what this is. This

2021
01:30:21.479 --> 01:30:24.159
is RFK saying, you know, we're not going to be

2022
01:30:24.159 --> 01:30:27.520
handing it out Willy Nelly. You're really you're really gonna

2023
01:30:27.560 --> 01:30:31.920
have to be my age, you know, and have some

2024
01:30:32.119 --> 01:30:35.159
underlying health conditions, or you're just not.

2025
01:30:35.119 --> 01:30:36.520
Going to get I'm just gonna give them all.

2026
01:30:36.800 --> 01:30:40.000
Yeah, that's something. Why would these two stocks rally. Maybe

2027
01:30:40.039 --> 01:30:43.479
they rallied because there are going to be some vaccines.

2028
01:30:44.720 --> 01:30:45.600
I mean maybe they.

2029
01:30:45.439 --> 01:30:47.399
Were and investments thought there was going to be zero.

2030
01:30:47.520 --> 01:30:49.159
I mean, maybe they were concerned that the K is

2031
01:30:49.159 --> 01:30:50.840
gonna say, you know, we're done with this COVID, whole

2032
01:30:50.840 --> 01:30:53.079
COVID thing. We're done that that ship is sailed.

2033
01:30:53.439 --> 01:30:55.840
Have you been keeping up on the quantum stocks? Yes,

2034
01:30:56.039 --> 01:30:58.840
you're bringing man these quantum stocks. I mean, I just

2035
01:30:59.000 --> 01:31:01.279
I don't get them. I don't q I on q

2036
01:31:01.600 --> 01:31:05.319
d wave is qbts is the ticker, there's qubt.

2037
01:31:06.000 --> 01:31:08.319
Have you heard of ion q Dave? Yes, Yeah, so

2038
01:31:08.680 --> 01:31:11.319
that one is that one. Made a note to me

2039
01:31:11.479 --> 01:31:13.720
just because of the CEO coming out and he's basically

2040
01:31:13.760 --> 01:31:16.199
saying that he's the in video of quantum computing.

2041
01:31:16.800 --> 01:31:20.640
Yeah, but Google debut this latest chip called Willow in December.

2042
01:31:21.279 --> 01:31:25.079
Microsoft launched this first chip earlier this year. On Tuesday,

2043
01:31:25.319 --> 01:31:28.000
d Wave, like Todd said, the introduced their latest entry.

2044
01:31:28.239 --> 01:31:31.279
There are dozens and dozens of companies in this space.

2045
01:31:31.840 --> 01:31:34.800
Some are going to be great. Most are going to

2046
01:31:34.800 --> 01:31:38.840
go out of business. Yeah, that's why an ATF makes

2047
01:31:38.920 --> 01:31:39.359
so well.

2048
01:31:40.479 --> 01:31:43.279
Yeah, but that's the same token, right if only one Wednesdave.

2049
01:31:43.399 --> 01:31:45.560
No, No, if you got an ATF that has twenty

2050
01:31:45.600 --> 01:31:50.199
five of them in there and canabem quadruple, the other

2051
01:31:50.279 --> 01:31:52.000
fifteen can go out of business, you're still going to

2052
01:31:52.079 --> 01:31:52.439
do fine.

2053
01:31:52.479 --> 01:31:54.920
I think we also mean Sebastian, we're talking about the

2054
01:31:54.960 --> 01:31:57.239
remember of the cannabis etf like, you could have said

2055
01:31:57.239 --> 01:31:59.439
the same thing about that, but that sector absolutely died.

2056
01:31:59.479 --> 01:32:00.720
And I don't think you can say the same thing

2057
01:32:00.720 --> 01:32:03.720
about quantum. But when I look at a like quantumy

2058
01:32:03.800 --> 01:32:05.600
TF do they have people like Google? Do they have

2059
01:32:05.640 --> 01:32:09.359
people like IBM? Or is it only the smallest quantum names?

2060
01:32:10.279 --> 01:32:12.560
And that's the thing I would care about, because you're right,

2061
01:32:12.600 --> 01:32:15.600
there are big companies like Microsoft, like IBM. Those are

2062
01:32:15.800 --> 01:32:16.600
likely the winners.

2063
01:32:16.680 --> 01:32:21.239
They have, they have the money, they are the winners.

2064
01:32:21.239 --> 01:32:24.399
But will it really matter? For instance, if if Pfizer

2065
01:32:24.520 --> 01:32:27.000
came up with a cure for cancer, would it matter.

2066
01:32:27.199 --> 01:32:29.680
Well, we talk about the chip so large, we talk

2067
01:32:29.720 --> 01:32:32.039
about Navidia, So if if Navidia has the best chip,

2068
01:32:32.039 --> 01:32:33.960
if someone has the best quantum computer, I mean, it

2069
01:32:33.960 --> 01:32:34.960
seems like it would matter.

2070
01:32:35.000 --> 01:32:37.880
But that's the one that's a big difference. And video

2071
01:32:37.920 --> 01:32:40.600
is a one product company. That's it. You get company

2072
01:32:40.720 --> 01:32:45.319
like Google, Microsoft, Apple, Pfizer, MERK in the drug area,

2073
01:32:45.359 --> 01:32:49.079
they have so many trillions of dollars, billions of dollars

2074
01:32:49.079 --> 01:32:52.600
worth of things going on. Does any one thing really matter.

2075
01:32:53.760 --> 01:32:56.600
Well, I feel like if you have the quantum computer,

2076
01:32:58.199 --> 01:33:03.239
but will you It's almost sounds like like we're not

2077
01:33:03.279 --> 01:33:05.279
going to mass scale quantic computers, you know what I mean,

2078
01:33:05.319 --> 01:33:07.640
you're not going to be making one a day like

2079
01:33:07.720 --> 01:33:09.720
you make maybe one a year. But these things that

2080
01:33:09.720 --> 01:33:10.439
are very hard.

2081
01:33:10.319 --> 01:33:15.560
To make mean is different, different approaches. They're quantum computing. Right,

2082
01:33:16.319 --> 01:33:20.920
Microsoft's got their their candidate, and Google's got their candidate,

2083
01:33:20.960 --> 01:33:23.600
and d Wave's got their candidate. Well, what do you mean,

2084
01:33:23.960 --> 01:33:27.399
who's got the quantum computer? Won't nobody? Nobody's got the quantum.

2085
01:33:27.159 --> 01:33:29.119
Well yeah, they're all different levels too. Like you said,

2086
01:33:29.119 --> 01:33:34.760
they're all relatively functionable, but this the spectrum of functionability

2087
01:33:34.760 --> 01:33:37.640
of what they're talking about is vastly different. One that

2088
01:33:37.680 --> 01:33:41.000
we are super excited about. Just solve a computational error.

2089
01:33:41.039 --> 01:33:43.239
I mean, it didn't actually do anything impressive that any

2090
01:33:43.239 --> 01:33:44.960
one of us would actually know what it did or

2091
01:33:45.000 --> 01:33:47.960
that you could monetize, and so it's a very And

2092
01:33:48.079 --> 01:33:51.359
Google's the forefront, right because Google did something that was

2093
01:33:51.399 --> 01:33:53.399
never done before. So that means all these other companies

2094
01:33:53.439 --> 01:33:56.520
are behind Google. So just because they started it something

2095
01:33:56.560 --> 01:34:00.760
at Google started seven years ago, how profitable is that.

2096
01:34:00.760 --> 01:34:02.159
That's the question, and you can't and.

2097
01:34:03.640 --> 01:34:06.680
Do any of the things that have come come out

2098
01:34:06.720 --> 01:34:09.359
in this space, Can any of them be monetized at

2099
01:34:09.359 --> 01:34:09.800
this point?

2100
01:34:10.319 --> 01:34:13.319
That's the question with the quantum Yeah not as that's

2101
01:34:13.359 --> 01:34:14.800
the question right now?

2102
01:34:14.920 --> 01:34:16.840
Then you could you have these companies like d Wave,

2103
01:34:17.159 --> 01:34:20.399
a small company that they jump forty Yeah.

2104
01:34:20.199 --> 01:34:23.239
I mean those those companies jumping crazy another company game Stop?

2105
01:34:23.800 --> 01:34:26.880
Goodness, talk about the good stuff? How about the bad stuff?

2106
01:34:26.880 --> 01:34:29.520
Target already down twenty five percent this year? Are you

2107
01:34:29.600 --> 01:34:32.640
ready for that? Why are you laughing?

2108
01:34:33.119 --> 01:34:33.439
Target?

2109
01:34:33.720 --> 01:34:36.319
Let's do it? Makes no sense, though you're right, Targets

2110
01:34:36.319 --> 01:34:38.760
should be the one at least they're like a relatively

2111
01:34:38.840 --> 01:34:41.000
seal company that's a real company.

2112
01:34:41.039 --> 01:34:41.600
Es actually a.

2113
01:34:41.520 --> 01:34:43.960
Real company with sales and earnings and games up just

2114
01:34:43.960 --> 01:34:45.159
by his bitcoin.

2115
01:34:45.840 --> 01:34:46.800
Put it put on their balance.

2116
01:34:47.159 --> 01:34:50.880
Games is a meme stock, that's all it is. Game

2117
01:34:50.920 --> 01:34:53.600
Stop is uh was going out of business before the

2118
01:34:53.640 --> 01:34:54.960
meme thing popped.

2119
01:34:54.640 --> 01:34:57.359
Out sixteen this week? What was Target doing?

2120
01:34:57.439 --> 01:35:01.159
They'd be long gone? Uh uh? Game Stop. Had it

2121
01:35:01.199 --> 01:35:04.319
not been for the meme craze, they'd be long same

2122
01:35:04.359 --> 01:35:06.399
with AMC theaters, they'd be long gone.

2123
01:35:06.840 --> 01:35:09.960
Blockbuster just missed it. If they held on for maybe

2124
01:35:10.000 --> 01:35:11.680
five more years, they could have got the men.

2125
01:35:11.760 --> 01:35:15.039
Amazing that block that's so amazing that Blockbuster was, but

2126
01:35:15.359 --> 01:35:18.960
it was a Blockbuster was trying had an opportunity to

2127
01:35:18.960 --> 01:35:20.880
buy Netflix and said no, I don't.

2128
01:35:21.199 --> 01:35:22.600
Yeah that business.

2129
01:35:24.159 --> 01:35:28.000
When you think back and that that's probably maybe arguably

2130
01:35:28.119 --> 01:35:32.520
the worst business decision in the history of mankind. Blockbuster

2131
01:35:32.760 --> 01:35:34.199
not wanting to buy Netflix.

2132
01:35:34.279 --> 01:35:35.760
I met you best Buy had a chance to buy

2133
01:35:35.800 --> 01:35:38.760
Amazon at one point, could be but Blockbusters could have

2134
01:35:38.760 --> 01:35:41.000
bought Netflix from was nothing I know, I mean it was.

2135
01:35:41.039 --> 01:35:42.760
It was insane. It was I don't remember the amounts,

2136
01:35:42.760 --> 01:35:43.600
like two hundred million or.

2137
01:35:43.560 --> 01:35:46.199
Some to make a good decision there.

2138
01:35:46.159 --> 01:35:48.560
No, no, we all want to be happy. We're coming

2139
01:35:48.560 --> 01:35:50.079
to the end of the show, guys, and it's a

2140
01:35:50.119 --> 01:35:52.159
three day weekend, and we got a day tomorrow to

2141
01:35:52.840 --> 01:35:56.199
give thanks and hopefully enjoy a little time off, and

2142
01:35:56.279 --> 01:35:57.880
we all want to be happy. And of course we

2143
01:35:57.920 --> 01:35:59.600
want to be healthy, because if we're not healthy, we're

2144
01:35:59.600 --> 01:36:03.239
probably pably not that happy. And a Greenberg financial we're

2145
01:36:03.279 --> 01:36:06.439
trying to be profitable to be next week