Dec. 15, 2024

Markets, Rates, and Holiday Volatility

Markets, Rates, and Holiday Volatility
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Markets, Rates, and Holiday Volatility
Markets, Rates, and Holiday Volatility

This week on Money Matters, brought to you by Greenberg Financial Group, we dive into the latest inflation reports and discuss why stickier-than-expected numbers could weigh on the economy moving forward. Plus, we preview next week’s Federal Reserve...

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This week on Money Matters, brought to you by Greenberg Financial Group, we dive into the latest inflation reports and discuss why stickier-than-expected numbers could weigh on the economy moving forward. Plus, we preview next week’s Federal Reserve decision, where a 25-basis-point rate cut is on the horizon—what could this mean for 2025?
Joining us is special guest Heath Lousing, former Greenberg Financial Group team member (1997-2006) and now a respected Attorney and CFP in Texas. Heath shares his expert insights on today’s market environment and provides must-know strategies for navigating uncertain times.
Will the markets keep climbing through the holidays, or are we facing a volatile Christmas season? Tune in for all this and more on this week’s Money Matters!

WEBVTT

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Good morning everybody. It's Sunday morning, eight o'clock and right

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here in seven ninety k S Tea, we're going to

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bring you the Money Batter Show with Dean Greenberg every

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Sunday morning. We've been doing this since nineteen ninety, bringing

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you a two hour show talking about the markets and

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how they're affected by the economy and politically globally, nationally,

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all the things that contribute to markets going up and down,

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and they are confusing right now. I'm not gonna lie man,

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the markets are confusing, but we're going to talk about

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how to protect yourself a little bit as we always do.

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All right, this is about money. It's about investing, which

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means is about risk. So on the show, okay, we

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talk about risk. Greenberg Financial Group is both a registered

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investment advisory and a broke a dealer. That means there

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registered with the SEC and the members of FENRA and SIPIK.

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The things we talk about that have risk, we want

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you to understand the risk probably to investing. It's that simple.

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Everything has risk. Everything. You might not think that a

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stock that keeps going higher has risk, but it does.

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You don't think that when your portfolio is making a

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lot of money you have risk it does. It's not

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just when things go down, it's also when things go up.

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If you're not reallocating, if you're not pulling back on

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the things that have gotten overheated, that's the way you

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have to invest in. You have to stay steady in

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what you do. And now the markets have, you know,

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obviously made new heights again. They're having trouble getting back

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over that sixty one hundred level in the S and

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P five hundred, and there's reasons for it because the

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markets definitely have divergencies. We had inflation numbers that were

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hotter than expected this week's CPIPPI and guess what. Markets

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won higher and then returned down. They went higher and

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then they turned down. Every time they came out and

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another the markets went a little higher and came down.

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Now the nasdak's the one that's staying up. Well, everything

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else is really coming down. Everything else went down this

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week now, SMP Russell equal weighted except the NASDAK, they

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were actually up about a half a percent. The Dow

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Jones is down seven days in a row. The equal

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weighted S andp's down about ten days in a row.

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What is I feel like there's this masking going on

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back and forth with the technology stocks, which kind of

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helps the S and P stay in there to a

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certain point. But if they start moving down, which they

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look like there's been some selling pressure going on, and

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then the rest of the market's going down, we will

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see a decline. Now there's two scenarios I see planning out.

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And I know I've been talking about how I don't

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like the market for a while, but we could have

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a decline over the next couple of weeks and then

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rally right into the end of the year when Santa

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Claus comes around and then take us up later on.

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Or the other side is we still stayed around here,

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back and forth, we go up and stay higher, and

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then after the first of the year been people start

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taking profits and move the markets down for a month

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or two three, and then they come ahead and do

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it somewhere along the line. I do believe we have

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to have a decline. It would be healthy for the

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markets to have a five, seven ten percent decline. It's ugly,

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it's horrible, it's scary. I get all that. But for

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those of us that have been around for a long time,

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those of us that manage money, for a long time.

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These type of markets are even scarier when you can't

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figure out why you can keep going higher other than

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the anticipation of what Trump's gonna do. Obviously, we think

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that Trump is gonna cut regulations, which is gonna help,

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cut taxes, which is gonna help all those things that

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can help the economy. But it takes time. Just because

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he says he's gonna cut taxes, you gotta go through Congress,

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you gotta go through the House and the Senate and

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get it approved them back and forth, blah blah blah,

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and then finally sign it. That's a year. But the

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talk can be there. It's very He can't just with

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a stroke of his pen go ahead and say I'm

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cutting taxes. It's got to be approved. Same thing with

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everything they's going to do, it's going to be approved now.

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A lot of things are probably going to get approved

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sooner than later. Things he can do is to negotiate

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the Middle East crisis and Ukraine Russian war, have better

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relationships with China, cut Iran off, let them happen, go,

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let Israel do what they're doing, and saving the world

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by creating a scenario where there's a lot less problems

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in the Middle East. People can say what they want

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all day long about Israel, but they got to be

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some of the smartest militants in the world. Think about

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how small they are, think about how everybody wants to

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annihilate them. But somehow, some way, they come up away

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not only to protect themselves, but to be able to

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get rid of the bad people, get rid of the

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bad guys. And you saw what's happening now in Syria. Okay,

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we don't know who's gonna come in, but you know

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they're not gonna let them come down to Israel. This

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cuts off Iran. Here's the problem. And for whatever reason,

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I can't still understand it. How did and after once

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try the Trump wins, they give Iran ten billion dollars

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for what. I don't get it. I don't understand it.

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But in the end it ain't gonna matter. Israel is

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taking care of Hamas, take care of her Bozo. We'll

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make sure Siria is there. Little by little by little,

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they're gonna gain the strength and Iran it's not gonna

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have the opportunity to have anybody being their straw people

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to invade and do the things they want, which means

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if Iran is then done, then Russia can't go through

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Iran to get things done. Little by little, I've told

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you I'm laying this out. Then once this happens and

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we have a compromise, a peace plan or some type

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of cease fire with the Ukraine and Russia, we can

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all move forward, and everybody in Europe better thank Israel

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for doing the stuff they need to do. Okay, because

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if we can get all that done, they live safer

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and their economy will do well, and they'll be able

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to come back. But it is interesting how everything is

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working a little bit different than before the election. I

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kind of feel like people are coming around and saying, Okay,

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he's going to be here four years. Let's give him

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a chance. Even the media feels like, I feel like

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them back a little bit. They're giving him a little

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bit of an opportunity because they realize how wrong they are.

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They realize how bad the mainstream media was. Almost everything

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that Trump said from sixteen on is true. That how

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they just came and got him and made lies about him,

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and the FBI came after him, the CIA people wrote

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things about him, How they lied about Hunt Biden, how

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they lied about Joe Biden, how they've lied and lied

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and lied. He just keeps bringing it up and showing

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that it wasn't him, it was everyone else, and people

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starting to believe it. Even the left is starting to

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believe it a little bit. They're at least giving him

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a chance instead of tearing him apart. We'll see what happens,

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all right. It was great to see the New York

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City mayor. Okay, and obviously for more reasons than just

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saying that being on Trump's he agrees this is the

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way every city mayor should be. If you're either ill

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or legal, it doesn't matter if you're undocumented or not.

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If you have created created crimes, we are not going

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to allow that to happen. And if you're undocumented, we're

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getting rid of you. If you create a crime, we're

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locking you up. We are not just gonna give money

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to undocumented people just because you sit in the in

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our city, and we believe in doing that. No, it's over.

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Things are going to change, and all this stuff's going

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to help the economy. People go, how is it going

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to help if he lows taxes, Well, the corporation is

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paying lesson taxes, gets what they can do. They can

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pass that on to the consumer in not raising prices,

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but maybe even lowering prices, because then you have competition.

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Because if people are competing for people's money, you want

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to be the one they do. They're going to have

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to cut prices, supply and demand. That's how it's gonna be.

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They cut taxes. All that's going to do is put

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us back to where we normally were. The big thing

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is is how we're going to move forward. How are

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we going to do the things we need to do

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to get all this done. We have all the supplies

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down on the border to build a fence, and why

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are they selling it off for nothing? Five dollars, ten dollars,

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one hundred and fifty dollars? What are you? What is this?

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Why do we even allow it? Why this is our money,

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tax paying money. I love for the media to find

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out finally get on our side. I love the fact

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that they can say all they want about the Doge Committee,

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this is gonna be great. I am telling you. It

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is the one change, the one thing that they're taking

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on that I think is gonna be great. Now, is

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it gonna work like where you're gonna cut two trillion

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dollars right away, probably not, but the exposure that we're

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going to find out what we're going to expose, what

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they're going to expose of, the overspending, the overcharging, the

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fat that the obviously the labor forces that we don't know,

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all that stuff. It's going to be exposed. And the

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only person that was willing to take this on and

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fulfill it and go fast and have ideas on how

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to do it is President Trump. And it's going to

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be great. It really is, because this is what we

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need if all of this to happen over the next

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few years. We need to get interest rates down. And

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the one way we do it is getting energy prices down.

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We have the biggest reserve of oil and LNG natural gas.

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Let's export it, Let's make money. Let's bring the price

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of energy down. Let's do it. Energy comes down, that

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brings prices down. Because this week all we saw was

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higher inflation CPI PPI keep going up two point seven,

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we besent three and a half percent. That needs to change,

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and it does over time. I listened and I watch

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all the people complain because there's so many billionaires on

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his cabinet. Why are people think that billionaires who are

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self made billionaires not given the billionaires a lot of

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them are self made, don't know how to run a business.

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You ever think you ever sit and think, why would

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a billionaire even want to be part of this?

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Why?

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I know people say power? What power? If you're in

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the cabinet, you lose a lot of power. You have

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to go with all your investments, go into a dog

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trust that you're not allowed to be able to make

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decisions on. You have to sell off a certain amount

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of stock and ownership and things. There's rules be able

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to do it. Your life changes. The ridicule you're gonna

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get being just just draped over the coals, going in

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front of Senate and all trying to get confirmed. Your family,

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anything you might have done that was on the fringe

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is gonna be blown up so that you're a bad person.

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Why do you do it?

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You know why they do it because they know we're

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in a crisis situation. They know if they don't step

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up and give their time for the next four years,

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then we're going to lose America. We're gonna lose it

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because the people that have been in charge have not

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realized what is going on. They teut that we have

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the greatest and the best and everyone should be jealous

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of our economy. Here are a thousand times, but they

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failed to remember the people that they're talking to, the

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ones that they think should be voting for them, are

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the exact same people that could this economy and say, bs,

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we can't afford anything, We can't pay our bills, we

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can't put food on the table, we can't go ahead

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and put gas in the car to go to work.

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Those are problems, real problems that have not been addressed.

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They think that mainstream media and actors and actresses and

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sports people with a way to go because that's what

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everyone looks up to. Until people have realized they're just humans.

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They're no one to look up to. They might be

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someone to admire, but don't talk to me about politics, Hollywood.

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You're the biggest hypocrite abuses of any morality that there

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is to be seen. Okay, So that's where we sit

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going forward. So let's look at the economy. So I

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think that any move down in this market of seven

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ten percent or more, you better back up the truck

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and buy it will be a buying opportunity. Now it's

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easy for me to say that now, because when it

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is falling, you're gonna hear all the bad things. Oh

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we got stagflation, Oh we got too much inflation. Oh

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there's no enough earnings, Oh, unemployment. All the things that

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you always hear that are bad, you're gonna hear and anticipate.

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Be strong enough to know that right now, sitting and

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making you a four and a half to five percent

238
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or so in the money market is okay until this happens.

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And when it happens, don't be afraid. Don't listen to

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the pundits that don't know what they're talking about. Don't

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listen to the pundits that say, oh, we're gonna go

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down much slow. We could, but if you dollar cost

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average in as we drop hard. And understand that once

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Trump goes ahead and is able to make the changes

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he wants the second year, the third year, it's gonna

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be great. The markets will do well to go higher.

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We're gonna set new highs. But if you spend all

248
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your money now because you're so ecstatic and you're not

249
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taking any money off the table, and the market's fall,

250
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you'll be in a scared situation, a very scared situation,

251
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and that's not going to be healthy for you, your mindset,

252
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or your stress. There's ways to mitigate risk. We talk

253
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about it all the time. Mitigate risk by selling and

254
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raising cash. Mitigate risk by using inverse funds so you

255
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can have a better taxable situation so you don't have

256
00:15:34.440 --> 00:15:37.440
to come out of everything. Use some of the inverse

257
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in the visual stocks, like on the big tech companies

258
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that you have, buy insurance puts. There's so many different

259
00:15:47.919 --> 00:15:51.559
ways to do it that the average person doesn't know,

260
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and the average advisor won't do. Protect yourself. They don't

261
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be in a scenario of always don't worry about it.

262
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It'll come back. Yes, but he is sixty five seventy

263
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five years old. You don't want to be in a

264
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scared mode for five years for it to come back.

265
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You want to have cash, You want to be separate.

266
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You want to be buying. Market's going up, you're still

267
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making money. Markets come down, you get excited because you

268
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want to buy. That's where we're at. Everyone now wants

269
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to talk about bitcoin. Bitcoin. Todd has talked about bitcoin

270
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since it's been thirty forty thousand, saying it's going to

271
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fit one hundred. Bitcoin is speculative. And if you're buying

272
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it now and you didn't buy it earlier, it is

273
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even more speculative. Don't just go jump into things that

274
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you don't know. Now, does that mean that bitcoin can't

275
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go higher? No, it doesn't. Does it mean that certain

276
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things can happen? Yes, But understand, when you're going into

277
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something at this height after it's went off and you're

278
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hoping that it goes to two hundred thousand, five hundred

279
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thousand and a million, because that's what you're hearing, understand

280
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it can go back to eighty thousand, seventy thousand, and

281
00:17:09.720 --> 00:17:13.920
fifty thousand, just as easy. If things don't go along

282
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the way people want it to go along. When Trump

283
00:17:16.839 --> 00:17:20.359
gets in and talk about more, maybe make a bigcoin reserve,

284
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don't selling it buying some who knows. I think the

285
00:17:24.960 --> 00:17:31.400
positives outweighed negatives. But it's speculative. It's nothing but speculative.

286
00:17:31.599 --> 00:17:34.799
And if you can't handle speculation, if you can't handle

287
00:17:34.880 --> 00:17:38.400
losing money, bitcoin certainly is not the place to be.

288
00:17:39.079 --> 00:17:42.480
That just becomes greedy. But if you're an allocator and

289
00:17:42.519 --> 00:17:45.160
you say, hey, part of my portfolio is for speculation,

290
00:17:46.079 --> 00:17:48.440
then it needs to be in there, and if you've

291
00:17:48.440 --> 00:17:50.759
had gold this whole time, maybe you sell off a

292
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little bit of a goal that the profit you have

293
00:17:52.799 --> 00:17:56.000
and you use that same speculation money to move over

294
00:17:56.039 --> 00:18:03.599
to bitcoin through the ETFs. The etss are great. They

295
00:18:03.640 --> 00:18:07.400
move up and down with bitcoin. Okay, it makes it

296
00:18:07.440 --> 00:18:10.880
easy to get in, easy to get out. All these

297
00:18:10.920 --> 00:18:15.720
things are happening, and all these things will come to

298
00:18:15.799 --> 00:18:24.000
fruition over time. Tesla has exploded and people keep buying

299
00:18:24.039 --> 00:18:26.319
it and they go, oh, it's going higher. Okay, you

300
00:18:26.359 --> 00:18:28.839
want to speculate that way, you go ahead. That stock

301
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was one hundred and eighty dollars two months ago. Three

302
00:18:33.200 --> 00:18:37.839
months ago, it's over four hundred dollars since he's got in,

303
00:18:37.920 --> 00:18:41.480
and what in a month, it's gone up over one

304
00:18:41.559 --> 00:18:44.680
hundred and some percent? Are you kidding me? And you

305
00:18:44.720 --> 00:18:47.160
want to jump in and you're not selling some If

306
00:18:47.200 --> 00:18:51.240
you have it, why is it happening? What is different

307
00:18:51.279 --> 00:18:53.799
today than it was other than his relationship with Trump?

308
00:18:55.960 --> 00:18:58.839
Be careful. There's a lot of shortcovering going on that

309
00:18:58.960 --> 00:19:05.359
continues to make that stock. Ohio speculation, that's a tough one.

310
00:19:05.519 --> 00:19:08.480
I'd rather speculate on the bitcoin right now than a

311
00:19:08.559 --> 00:19:12.119
speculate on Tesla. There I would be a seller of

312
00:19:12.240 --> 00:19:15.279
some of my tesla if I still owned any I

313
00:19:15.319 --> 00:19:19.480
sold out way before it even fell before and I

314
00:19:19.519 --> 00:19:24.160
never got back in. But that's okay. Opportunities still arise

315
00:19:24.160 --> 00:19:27.799
in other things. But be careful because there are things

316
00:19:27.839 --> 00:19:31.119
that are high. AI is screaming. Everyone's telling you how

317
00:19:31.119 --> 00:19:32.920
great it is, and it is going to be great

318
00:19:32.960 --> 00:19:34.559
for the next two or three years. But that doesn't

319
00:19:34.559 --> 00:19:37.599
mean the stocks are going to keep running the way

320
00:19:37.599 --> 00:19:41.079
they have, so be careful. Things go up, things go down,

321
00:19:41.920 --> 00:19:43.920
kind of like a football team here at the University

322
00:19:43.960 --> 00:19:51.279
of Arizona, right expectations right. Last year was great, even

323
00:19:51.319 --> 00:19:53.440
though we lost the coach, we lost the players. Everybody

324
00:19:53.440 --> 00:19:55.880
came in with expectations it was going to be great.

325
00:19:55.920 --> 00:19:59.359
New coach knew everything, and then everybody wants to sell out.

326
00:20:00.240 --> 00:20:06.839
Everybody wants to get rid of the coaches. Now. Who

327
00:20:06.920 --> 00:20:10.079
knows what the situation is, who knows what to do

328
00:20:10.200 --> 00:20:14.519
right now? I've been coaching high school football for a

329
00:20:14.599 --> 00:20:18.519
long time. The one thing I do know that if

330
00:20:18.559 --> 00:20:22.160
you do not change your methods as a coach, you

331
00:20:22.240 --> 00:20:25.519
do not change with the environment, You're going to be

332
00:20:26.319 --> 00:20:30.720
very difficult to win. And what do I mean by that?

333
00:20:31.319 --> 00:20:36.880
The environment, the culture of football. College football has changed

334
00:20:36.920 --> 00:20:40.759
so quickly in two years. It's very difficult to keep up.

335
00:20:41.039 --> 00:20:42.960
And if you're an old school guy that says I'm

336
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not changing, I'm going to develop, I'm going to do this,

337
00:20:45.599 --> 00:20:48.519
then you're going to lose. The problem we have it

338
00:20:48.559 --> 00:20:51.759
to you, of a is that we do not look

339
00:20:51.799 --> 00:20:54.960
to take a risk and change. We always go mediocre.

340
00:20:55.000 --> 00:20:56.720
We always try to do some of the things right

341
00:20:56.880 --> 00:20:59.000
like that, and we don't do it. We don't have

342
00:20:59.079 --> 00:21:02.279
the money guys to go out and be an Alabama

343
00:21:02.400 --> 00:21:06.640
or an LSU or Ohio State. We just don't have it.

344
00:21:07.920 --> 00:21:11.039
What we have is the ability to bring people here

345
00:21:11.039 --> 00:21:15.200
if we wanted to change the culture and football today,

346
00:21:15.319 --> 00:21:17.759
if you're going to be good, you need to be

347
00:21:18.000 --> 00:21:23.480
like a GM that understands free agency. So my hat

348
00:21:23.759 --> 00:21:27.359
is off to Bill Belichick in UNC. UNC went out

349
00:21:27.480 --> 00:21:29.319
and said we're going to take a risk, We're going

350
00:21:29.359 --> 00:21:32.480
in a different direction. You watch how successful they are.

351
00:21:33.079 --> 00:21:37.480
And they went ahead and somehow negotiated a contract with

352
00:21:37.599 --> 00:21:42.079
the most winningist coach in the NFL history. How about

353
00:21:42.119 --> 00:21:45.640
that and brings him the college ball Well, of course,

354
00:21:45.640 --> 00:21:48.720
the pundits are, Wow, that's beneath him. I can't believe

355
00:21:48.759 --> 00:21:50.960
he's doing it. He's doing it because he's seventy two,

356
00:21:51.160 --> 00:21:54.400
seventy three years old and it's exciting for him to

357
00:21:54.480 --> 00:21:58.759
do something different and to bring his son along. But

358
00:21:58.880 --> 00:22:02.720
he has the right idea. He stepped up and he said,

359
00:22:03.119 --> 00:22:05.440
I want the kids today that want to be in

360
00:22:05.480 --> 00:22:08.480
the NFL. I want kids today that think they could

361
00:22:08.480 --> 00:22:11.359
be in the NFL. We'll evaluate, we'll bring them in

362
00:22:11.519 --> 00:22:13.400
and we'll teach him how to get there and develop

363
00:22:13.440 --> 00:22:16.160
them to get to the NFL. And then he brings

364
00:22:16.160 --> 00:22:18.839
in somebody that will be like a GM that will

365
00:22:18.880 --> 00:22:23.759
look and see with with Remember they have a cap

366
00:22:23.799 --> 00:22:26.440
in the in the NFL. In college, you have a

367
00:22:26.440 --> 00:22:28.799
cap of how much you can bring in, Okay, because

368
00:22:28.799 --> 00:22:31.319
obviously not everyone can bring in twenty twenty five thirty

369
00:22:31.319 --> 00:22:34.599
million dollars or pay a guy to leave LSU and

370
00:22:34.640 --> 00:22:36.680
go to Michigan because you're Larry Ellison for ten or

371
00:22:36.720 --> 00:22:39.319
twelve million. So you have a cap. You have to

372
00:22:39.359 --> 00:22:42.079
develop a personnel around that, and it's going to be

373
00:22:42.240 --> 00:22:45.880
year two year, two year. What better person to bring

374
00:22:45.920 --> 00:22:49.759
in than a guy that has experience in the NFL

375
00:22:50.039 --> 00:22:54.119
with free agency, what better guy to bring in. That's

376
00:22:54.319 --> 00:22:56.720
what I mean by change. That's what I mean by

377
00:22:56.759 --> 00:22:59.279
going outside the box. If you want to be good,

378
00:22:59.640 --> 00:23:01.720
it's he who knows it's going to be good. Who

379
00:23:01.759 --> 00:23:05.160
knows if seventy two can relate to a eighteen to

380
00:23:05.319 --> 00:23:08.000
twenty year old kid, I don't know, but at least

381
00:23:08.000 --> 00:23:11.720
they're trying something. I know this somehow he relates to

382
00:23:11.759 --> 00:23:15.000
a twenty four year old girl. So he obviously isn't

383
00:23:15.039 --> 00:23:18.359
an old man thinking that he can't do stuff. But

384
00:23:18.440 --> 00:23:20.640
do you think the University of Arizona would do that?

385
00:23:21.279 --> 00:23:24.319
Hell no, Look at Colorado. They took a chance on

386
00:23:24.400 --> 00:23:28.240
Deon Sanders. Most people wouldn't do it. Oh, he's too flamboyant.

387
00:23:28.279 --> 00:23:31.519
He's this, he's that. Until we go outside the box

388
00:23:31.880 --> 00:23:35.680
and find coaches that want to coach and understand the

389
00:23:35.799 --> 00:23:38.480
change in this and not use us as a stepping stone,

390
00:23:38.799 --> 00:23:42.680
that's there. So Brennan I believe can do this if

391
00:23:42.720 --> 00:23:45.039
he wants to, but he's got to bring in the

392
00:23:45.119 --> 00:23:48.480
right mindset. He's got to change to look for kids

393
00:23:48.480 --> 00:23:52.160
that want to play football. We can develop kids that

394
00:23:52.200 --> 00:23:53.799
want to play football. We're not going to be a

395
00:23:53.799 --> 00:23:57.000
great team every year in and out. Find the kids,

396
00:23:57.119 --> 00:23:59.880
find the local kids, find kids that can be preferred

397
00:23:59.880 --> 00:24:02.400
walk ons for you to do the things you need.

398
00:24:02.440 --> 00:24:05.960
We have a budget. We don't have limits like some

399
00:24:06.000 --> 00:24:08.920
of the other places do. Find football players, bring in

400
00:24:08.960 --> 00:24:11.079
some of the spot guys, spend the money on them,

401
00:24:11.319 --> 00:24:13.279
bring in coaches to have to get rid of you.

402
00:24:13.359 --> 00:24:16.279
Oh see your DC and your special Teams coordinator. You

403
00:24:16.440 --> 00:24:20.119
obviously messed up pretty good. Change it. Do you what

404
00:24:20.119 --> 00:24:22.319
you're doing and make it good for the people and

405
00:24:22.359 --> 00:24:26.079
the fans before you lose support. We'll be back this

406
00:24:26.240 --> 00:24:29.640
The Money Monty Show. Appreciate you all listening. Welcome back everybody.

407
00:24:29.720 --> 00:24:31.519
This is Dean Greenberg with the rest of the crew

408
00:24:31.519 --> 00:24:34.720
from Greenberg Financial Group, and we have a special guest today.

409
00:24:35.200 --> 00:24:38.640
He was from Greenberg Financial Group, Heath Lossing. For those

410
00:24:38.720 --> 00:24:41.160
of you that have been listening for I don't know

411
00:24:41.680 --> 00:24:44.440
twenty one years, twenty some odd years, you've heard the

412
00:24:44.519 --> 00:24:48.160
name Heath Lossing. I'm gonna let you Heath tell you

413
00:24:48.200 --> 00:24:49.960
what he's been doing. But it's so good to see

414
00:24:50.000 --> 00:24:53.920
him be part of this. You know. One of the

415
00:24:53.920 --> 00:24:57.000
things I remember saying, I'm going and I'm leaving and

416
00:24:57.039 --> 00:24:59.279
I'm going to go become a lawyer and I'm going

417
00:24:59.319 --> 00:25:01.880
to become a regular Vetsman advisor. And I never doubted it.

418
00:25:02.440 --> 00:25:05.559
And he sat his own firms and now we work together,

419
00:25:06.240 --> 00:25:07.079
which is pretty cool.

420
00:25:07.480 --> 00:25:08.240
Well, thank you, Dane.

421
00:25:08.240 --> 00:25:10.440
It's I love.

422
00:25:10.319 --> 00:25:13.759
You, guys, And you know I've told everybody you I

423
00:25:13.799 --> 00:25:16.799
couldn't have asked for a better mentor somebody who brought

424
00:25:16.839 --> 00:25:20.039
me into the field and taught me the ins and

425
00:25:20.079 --> 00:25:23.240
outs and the ups and downs of the financial markets.

426
00:25:23.279 --> 00:25:27.119
It's it's it was a tremendous learning experience to having

427
00:25:27.559 --> 00:25:29.680
had the opportunity to have been here when I was

428
00:25:29.720 --> 00:25:31.960
a young buck. I think I started working with you

429
00:25:32.000 --> 00:25:33.200
when I was twenty four.

430
00:25:33.880 --> 00:25:38.559
I love story, I do remember that. But how we

431
00:25:38.599 --> 00:25:39.200
got together?

432
00:25:39.440 --> 00:25:42.160
Oh well, so I went to work a crudential after

433
00:25:42.240 --> 00:25:47.200
moving here. I actually sold cars for Bowdery Motors. I

434
00:25:47.240 --> 00:25:50.920
don't know if anybody remembers Boderie Motors or if it's business. Yeah,

435
00:25:51.839 --> 00:25:57.000
And they came out after my ninety day probationary period

436
00:25:57.039 --> 00:25:59.160
and they told me I was a terrible car salesman.

437
00:26:00.720 --> 00:26:01.480
Is that a compliment?

438
00:26:01.559 --> 00:26:03.920
Well, I think I sold three cars in ninety days.

439
00:26:04.000 --> 00:26:06.119
I mean I was a terrible car salesman. There was

440
00:26:06.160 --> 00:26:08.680
no doubt about it. And so I went to a

441
00:26:08.759 --> 00:26:13.160
job fair and I interviewed with Prudential Preferred Financial Services

442
00:26:13.200 --> 00:26:15.480
at the time, and started working with them. And I

443
00:26:15.480 --> 00:26:18.359
think one day I heard an advertisement from Greenberg Financial

444
00:26:18.400 --> 00:26:20.119
on the radio and I said, I'm going to go

445
00:26:20.160 --> 00:26:22.680
talk to this man. And I walked in and I

446
00:26:22.720 --> 00:26:26.359
had had my head shaped and I remember Dean saying

447
00:26:26.400 --> 00:26:28.799
to me, he said, well, I'm just a guy in

448
00:26:28.839 --> 00:26:30.920
an office, So if you want to work here, that's fine,

449
00:26:30.920 --> 00:26:32.400
but you're going to have to figure out a way

450
00:26:32.440 --> 00:26:36.279
to survive while you build your book. And by the way,

451
00:26:37.240 --> 00:26:39.440
you're gonna have to grow your hair out. You're not

452
00:26:39.480 --> 00:26:46.559
a Nazi, right, I said, no, I am not a Nazi,

453
00:26:47.200 --> 00:26:49.039
but I did have a bad haircut, and so a

454
00:26:49.079 --> 00:26:52.559
buddy of mine had the common sense to get rid

455
00:26:52.599 --> 00:26:54.599
of the bad haircut and now I'm just bald.

456
00:26:55.839 --> 00:26:57.559
But you know, it's funny about that. As we were

457
00:26:57.559 --> 00:27:02.680
talking about how today's world, it'd be almost impossible for

458
00:27:02.720 --> 00:27:05.400
someone to come in and just go cold calling and

459
00:27:05.400 --> 00:27:08.599
trying to build up his book. You know, it's changed,

460
00:27:08.640 --> 00:27:10.039
And this goes back to what I was saying about

461
00:27:10.039 --> 00:27:13.039
football and everything. Things change. We've changed with it to

462
00:27:13.039 --> 00:27:15.880
be able to build up what we have because times

463
00:27:15.880 --> 00:27:18.359
have changed, and if you don't change the way you

464
00:27:18.440 --> 00:27:22.319
do things, then you're going to fail. And I couldn't

465
00:27:22.319 --> 00:27:25.000
imagine being twenty two, twenty three years old today and

466
00:27:25.079 --> 00:27:28.240
not having some type of salary or draw or something

467
00:27:28.279 --> 00:27:30.160
to get buy and pay your bills. First of all,

468
00:27:30.200 --> 00:27:33.759
bill's a lot more expensive, okay, And.

469
00:27:33.400 --> 00:27:35.920
It'd be tough. It'd be very, very difficult. It wasn't

470
00:27:35.960 --> 00:27:39.039
easy then though. I mean, we were all on scratching

471
00:27:39.119 --> 00:27:42.200
at that point. I think that everybody who.

472
00:27:42.000 --> 00:27:43.880
Well, when did you start ninety.

473
00:27:44.000 --> 00:27:47.960
I think I first licensed in ninety six or ninety seven.

474
00:27:48.519 --> 00:27:51.519
I think I came here in ninety seven or ninety eight.

475
00:27:51.519 --> 00:27:52.400
I can't remember.

476
00:27:52.599 --> 00:27:54.680
So I was already going for about eight years before

477
00:27:54.759 --> 00:27:59.039
you came on board. I the radio show started ninety

478
00:27:59.240 --> 00:28:01.640
kind of went on my own in ninety one. That's

479
00:28:01.640 --> 00:28:03.720
how I started going and doing that stuff. And then

480
00:28:03.720 --> 00:28:04.359
you came on.

481
00:28:04.319 --> 00:28:06.960
And you were over at Oracle and ainor Yeah.

482
00:28:07.079 --> 00:28:09.759
Remember that, I know an oracle.

483
00:28:10.759 --> 00:28:12.319
You want to let what you want a little fun fact,

484
00:28:12.359 --> 00:28:16.000
you know, inner road. That's not the way you pronounces

485
00:28:16.359 --> 00:28:19.200
that's not the way you pronounced it. How do you pronounce? Well,

486
00:28:19.240 --> 00:28:21.680
that makes her name? I I a her name. The

487
00:28:21.720 --> 00:28:24.599
woman's name was named after his named Nina, and it

488
00:28:24.680 --> 00:28:26.880
drove her nuts. Tell her death that it was pronounced

489
00:28:28.680 --> 00:28:30.960
Oh fun fact from Tucson right, Well that.

490
00:28:30.920 --> 00:28:32.480
Makes never would have thought that.

491
00:28:32.720 --> 00:28:35.200
Yep, makes perfect sense to me. I guess, well, it's

492
00:28:35.200 --> 00:28:36.039
good to have you, Heath.

493
00:28:36.759 --> 00:28:38.839
So you left here and you went on to go

494
00:28:38.920 --> 00:28:39.799
to Missouri, didn't you.

495
00:28:40.039 --> 00:28:43.440
I went to the University of Missouri. I they helped

496
00:28:43.480 --> 00:28:47.720
pay for that school. I taught for. What was when

497
00:28:47.759 --> 00:28:51.039
I got admitted, it was the Consumer in fact, Consumer

498
00:28:51.079 --> 00:28:54.000
and Family Economics Department, and by the time I left,

499
00:28:54.079 --> 00:28:57.440
it was the they decended department. No, they decided that

500
00:28:58.000 --> 00:29:01.799
the name the Department of Consumer and Family Economics just

501
00:29:01.839 --> 00:29:06.000
didn't have the bizazz that they wanted, so they turned

502
00:29:06.000 --> 00:29:08.759
it to the Department of Personal Financial Planning. So I

503
00:29:08.799 --> 00:29:11.160
have a master's degree in Personal Financial Planning from the

504
00:29:11.240 --> 00:29:13.119
University of Missouri, and I also got my law degree

505
00:29:13.160 --> 00:29:15.640
from there, and I've been practicing law since two thousand

506
00:29:15.680 --> 00:29:18.480
and We took a year off after I graduated, so

507
00:29:18.519 --> 00:29:21.119
I got my UH passed the bar exam in twenty

508
00:29:21.160 --> 00:29:22.759
twelve and opened my own shop at that point.

509
00:29:22.880 --> 00:29:26.640
So you got law, your financial you're also financial advisor.

510
00:29:26.720 --> 00:29:29.039
You got your own investment advisors. Correct, And you're in

511
00:29:29.039 --> 00:29:29.720
a state planner.

512
00:29:30.000 --> 00:29:31.519
Correct. That's pretty cool CFP.

513
00:29:31.920 --> 00:29:34.079
And you only went to the University of Missouri because

514
00:29:34.079 --> 00:29:35.839
they're the only school that would allow you to do

515
00:29:35.960 --> 00:29:39.960
the master's degree in economics and your law degree simultaneously.

516
00:29:40.279 --> 00:29:42.599
There was one other school that would have allowed it,

517
00:29:42.799 --> 00:29:46.440
and it was at that time. The other school that

518
00:29:46.480 --> 00:29:50.200
allowed it was a Texas Tech And we visited Lubbock

519
00:29:50.640 --> 00:29:52.400
and we just drove through. Yeah, that was.

520
00:29:54.559 --> 00:29:57.119
If you're getting to just guys, this guy is very,

521
00:29:57.279 --> 00:29:59.880
very smart, and that's one of the things he gets

522
00:30:00.000 --> 00:30:02.839
ant he gets smart, and that's the one thing about

523
00:30:02.920 --> 00:30:06.119
very small people. But it also takes a small person

524
00:30:06.160 --> 00:30:07.960
to notice stay in contact with someone and keep a

525
00:30:08.000 --> 00:30:11.640
relationship with someone that's good and they can help you

526
00:30:11.680 --> 00:30:14.000
as you go through life too. And that's where we

527
00:30:14.039 --> 00:30:14.640
are right now.

528
00:30:14.759 --> 00:30:16.799
Of course, he's smarties from South Dakota.

529
00:30:17.200 --> 00:30:20.279
Watertown, South Dakota, dance from Clark, thirty miles.

530
00:30:20.119 --> 00:30:23.000
Away Southcotta, and Heath and I were born in the

531
00:30:23.039 --> 00:30:26.519
same hospital like water Towns out Wads.

532
00:30:27.880 --> 00:30:28.640
Is that crazy?

533
00:30:29.359 --> 00:30:30.799
Apparently smart people come from Uh.

534
00:30:30.839 --> 00:30:33.400
Obviously, I gotta go to South Dakota and start recruiting.

535
00:30:34.319 --> 00:30:36.640
I think they might. They might have some good football

536
00:30:36.640 --> 00:30:38.880
players up there that want some warm weather and bikinis.

537
00:30:39.000 --> 00:30:41.799
For whatever reason, you seem to attract South Dakotas to

538
00:30:41.880 --> 00:30:43.079
this facility.

539
00:30:43.720 --> 00:30:47.359
He does, right until hell? Old were you when it came? Oh,

540
00:30:47.400 --> 00:30:49.400
two years old, give six?

541
00:30:49.799 --> 00:30:51.440
I think ninety six or ninety seven.

542
00:30:51.519 --> 00:30:53.119
I cast about two or three years old.

543
00:30:53.240 --> 00:30:53.880
When did you leave?

544
00:30:54.079 --> 00:30:54.759
When did you leave?

545
00:30:54.920 --> 00:30:57.880
I left in two thousand and six the summer twix wow, okay,

546
00:30:58.240 --> 00:31:01.400
and began law school in the fall of two thousand

547
00:31:01.400 --> 00:31:03.880
and seven. But my wife and I traveled around a bit,

548
00:31:04.400 --> 00:31:06.000
if you guys remember, I like to get in a

549
00:31:06.720 --> 00:31:09.480
trailer and travel around, kind of a bit of a

550
00:31:09.519 --> 00:31:12.920
hillbilly and felt like I was going to be on

551
00:31:13.279 --> 00:31:15.359
the Beverly Hillbillies. At some point, I think, I still

552
00:31:15.359 --> 00:31:15.720
may I.

553
00:31:15.920 --> 00:31:18.599
You have a here from the South Dakota, so you're Southerner, right.

554
00:31:18.519 --> 00:31:22.720
That's exactly give me some chislick gene.

555
00:31:23.799 --> 00:31:25.440
I think the last time you came through here, you

556
00:31:25.480 --> 00:31:28.000
were with your wife, and I think cligraphy at the

557
00:31:28.000 --> 00:31:29.519
time was what three years old, and you were in

558
00:31:29.519 --> 00:31:33.200
a van and the way Susan was stopping taking our

559
00:31:33.359 --> 00:31:35.440
end gigs from time to time, his wife is in

560
00:31:35.519 --> 00:31:38.960
our inn to beep up the bank a kount of

561
00:31:38.960 --> 00:31:40.240
a little bit and no way you go again.

562
00:31:40.319 --> 00:31:42.640
And that was twenty eleven. Yeah, we spent a spring

563
00:31:42.720 --> 00:31:45.279
here in twenty eleven and then didn't return. I don't

564
00:31:45.319 --> 00:31:47.960
think until twenty eighteen or nineteen. We came for a

565
00:31:47.960 --> 00:31:51.119
little visit, came and saw everybody, and this is the

566
00:31:51.160 --> 00:31:52.359
first time back since.

567
00:31:52.319 --> 00:31:54.440
We're fortunate to have a bunch of clients who have

568
00:31:54.599 --> 00:31:56.759
been with us for twenty twenty five years, and our

569
00:31:57.119 --> 00:32:01.119
are much more than clients, their friends, their family and Heath.

570
00:32:01.160 --> 00:32:03.039
I think having your voice on the radio is very

571
00:32:03.119 --> 00:32:03.640
very cool.

572
00:32:03.960 --> 00:32:06.240
Well, I'm glad to be here. I thought it was

573
00:32:06.319 --> 00:32:09.359
neat to see a client that I had signed up

574
00:32:09.400 --> 00:32:13.519
and been a part of their initial experience here twenty

575
00:32:13.559 --> 00:32:16.519
years ago. That's amazing, It's absolutely fantastic.

576
00:32:16.559 --> 00:32:18.799
Oh what were you an enter into Trump two point

577
00:32:18.839 --> 00:32:20.319
Oh you excited about Trump two point zero.

578
00:32:20.400 --> 00:32:23.559
I'm excited for the end of the regulations. You know,

579
00:32:23.720 --> 00:32:29.440
in my legal practice, I really went. What caused me

580
00:32:29.519 --> 00:32:32.680
to want to become a lawyer was Sarbanes Oxley because

581
00:32:32.799 --> 00:32:38.799
it was a law without an issue. If that makes sense,

582
00:32:38.880 --> 00:32:43.640
it does they Sarbaine's Oxley was passed and put a

583
00:32:43.759 --> 00:32:48.039
very onerous regulatory component on us as what was then

584
00:32:48.079 --> 00:32:51.680
a very small broker dealer, small advisory firm. And I thought,

585
00:32:51.839 --> 00:32:54.160
this is just wrong. They are are setting up a

586
00:32:54.200 --> 00:32:56.359
system where the JP Morgan's of the world and the

587
00:32:56.359 --> 00:32:58.240
Morgan Stanleys of the world are going to be able

588
00:32:58.319 --> 00:33:02.079
to run rough shot over US independent advisors. And I

589
00:33:02.160 --> 00:33:07.680
went to law school tilted will wind Mills, as they

590
00:33:07.680 --> 00:33:10.720
would say, I wanted to fight the good fight. I've

591
00:33:10.720 --> 00:33:14.000
been involved in a number of pieces of litigation with

592
00:33:14.319 --> 00:33:18.240
federal and state regulatory bodies over the course of this

593
00:33:18.440 --> 00:33:21.759
many years I've been doing this, and they just are

594
00:33:21.880 --> 00:33:28.039
hell bent on not necessarily doing things that improve the

595
00:33:28.119 --> 00:33:31.559
condition of whatever industry that it is, but just to

596
00:33:31.640 --> 00:33:35.519
put an onus on those who are operating within the industries.

597
00:33:35.519 --> 00:33:39.359
And that's wrong. And it continues to this day. When

598
00:33:39.359 --> 00:33:41.839
I get back, I'm going to have hearings. I've got

599
00:33:41.839 --> 00:33:45.880
things going on. I've had things very recently with the

600
00:33:45.960 --> 00:33:49.400
National Labor Relations Board, with the Department of Labor, with

601
00:33:49.480 --> 00:33:53.799
the EPA, and many of the things that they're complaining

602
00:33:53.839 --> 00:33:58.799
of are issues in which there is nobody who is

603
00:33:58.960 --> 00:34:02.640
actually being in No employees are being injured, the public's

604
00:34:02.680 --> 00:34:06.440
not being injured. There's nothing that they are are doing

605
00:34:06.559 --> 00:34:11.840
to satisfy their regulatory component for the benefit of society generally.

606
00:34:12.159 --> 00:34:13.920
It's just that they're doing it because they have the

607
00:34:13.960 --> 00:34:16.679
power to do so. And so I am all for

608
00:34:17.119 --> 00:34:21.639
whatever can be done to reduce the regulatory state.

609
00:34:22.239 --> 00:34:25.719
I don't think anybody could say they don't want that

610
00:34:25.840 --> 00:34:29.400
other than the people that were an administration. And it's

611
00:34:29.440 --> 00:34:31.679
amazing what they're trying to do in the last thirty

612
00:34:31.760 --> 00:34:36.119
days of being there, of trying to regulate out the DOJ,

613
00:34:36.400 --> 00:34:39.920
trying to these other companies like you know what, guys

614
00:34:40.239 --> 00:34:42.679
stop already. No one wants that.

615
00:34:43.320 --> 00:34:47.679
Well, I think the FTC, the Federal Trade Commission. The

616
00:34:47.679 --> 00:34:54.599
things that she has done is it offends business. It

617
00:34:54.639 --> 00:35:00.000
offends the very nature of trying to provide services or

618
00:35:00.119 --> 00:35:05.800
provide product for society at large. And what I mean

619
00:35:06.079 --> 00:35:10.320
between blocking so the most recent one the merger that

620
00:35:10.360 --> 00:35:14.400
she tried to terminate that merger and I guess we're

621
00:35:14.440 --> 00:35:17.079
gonna have to take a break, but we'll come back sometime. Okay,

622
00:35:17.239 --> 00:35:21.760
that merger was actually going to lower prices for the public,

623
00:35:22.079 --> 00:35:24.320
but she didn't want to do it because she said

624
00:35:24.320 --> 00:35:28.440
it was monopolistic. Right. That is antithetical to the Sherman Act.

625
00:35:28.480 --> 00:35:32.800
It's antithetical to what the whole purpose of ending minigh.

626
00:35:32.519 --> 00:35:34.000
And when we get back, we're going to talk about

627
00:35:34.000 --> 00:35:37.280
what it real monopoly looks like. Because obviously they think

628
00:35:37.400 --> 00:35:39.719
breaking up Google is going to be a good thing.

629
00:35:40.159 --> 00:35:42.760
I think it'll be a disaster. We'll be back. This

630
00:35:42.840 --> 00:35:44.519
is the money out of show. Thank you for listening.

631
00:35:47.239 --> 00:35:49.679
Welcome back everybody. This is the money out of show.

632
00:35:49.840 --> 00:35:54.039
We got Dave show at Dylan Greenberg, Heath lossing myself

633
00:35:54.039 --> 00:35:56.199
today and then in the second alley you'll have the

634
00:35:56.239 --> 00:35:57.840
other boys coming on too.

635
00:35:58.320 --> 00:36:01.119
Get the ateaming here in the second hour, if you think.

636
00:36:00.960 --> 00:36:08.519
So, Dave. Okay, So we were talking about monopolies. What

637
00:36:09.159 --> 00:36:12.840
is truly a monopoly and why does a DOJ think

638
00:36:12.880 --> 00:36:14.559
that every big company is a monopoly.

639
00:36:14.800 --> 00:36:17.360
Well, I can't tell you why the DOJ, or the

640
00:36:17.400 --> 00:36:22.440
Federal Trade Commission or anybody else thinks monopolies exist. Where

641
00:36:22.440 --> 00:36:26.519
they don't. I can tell you that I read excerpts

642
00:36:26.559 --> 00:36:31.039
from what's her name, Elena. I can't remember her name

643
00:36:31.280 --> 00:36:35.960
either off the top of my head. But her view

644
00:36:36.039 --> 00:36:38.679
of monopoly is very different from what the standard view

645
00:36:38.719 --> 00:36:42.199
of monopoly is, and that's been adopted by the current administration,

646
00:36:43.440 --> 00:36:49.719
and so the view isn't when we had the common

647
00:36:49.760 --> 00:36:53.599
view of monopolies when it became an issue and when

648
00:36:53.599 --> 00:36:57.840
they broke up. You know, the big conglomerates that existed

649
00:36:57.840 --> 00:37:01.199
in the nineteen twenties and thirties was that they had

650
00:37:01.239 --> 00:37:04.679
such pricing power that they could price other businesses out

651
00:37:04.719 --> 00:37:07.960
of existence, to the point where those companies just ultimately

652
00:37:08.000 --> 00:37:11.519
failed because they couldn't sell at a loss as the

653
00:37:11.559 --> 00:37:14.920
major corporations could, or they couldn't be forced out, and

654
00:37:15.039 --> 00:37:16.880
if they chose not to be bought out, they would

655
00:37:16.920 --> 00:37:20.920
ultimately fail. That's not the case today. We have innovation

656
00:37:21.039 --> 00:37:23.599
that goes on in a way that could have never

657
00:37:23.679 --> 00:37:27.679
occurred back in those days because information is power, and

658
00:37:27.760 --> 00:37:31.440
the transfer of that information happens so quickly, I mean

659
00:37:31.440 --> 00:37:37.760
it's immediate now. You know, people talk about the big

660
00:37:37.800 --> 00:37:43.800
traders and how the gold miss acts are getting ahead

661
00:37:43.800 --> 00:37:46.480
of the little investor and whatnot. The information that they have,

662
00:37:46.599 --> 00:37:48.559
as long as they're not trading and stuff that they're

663
00:37:48.599 --> 00:37:52.840
actually serving as a banking representatives for is really not

664
00:37:54.280 --> 00:37:57.199
any better, and if so, only marginally better than what

665
00:37:57.280 --> 00:37:59.360
you or I can get off the Internet or off

666
00:37:59.360 --> 00:38:01.920
of a subscription service or what have you. So I

667
00:38:02.000 --> 00:38:05.719
don't think that that's really it. I think that those

668
00:38:05.800 --> 00:38:10.000
who support big government and those who believe in big

669
00:38:10.039 --> 00:38:16.679
government fear big business because power is power, and they

670
00:38:16.760 --> 00:38:20.760
don't want their power threatened by other entities. So that's

671
00:38:20.800 --> 00:38:23.320
why I've been thrilled. And it's interesting to me that

672
00:38:23.760 --> 00:38:28.840
Jeff Bezos and Elon Musk and these folks are challenging

673
00:38:28.880 --> 00:38:33.039
the constitutionality of the National Labor Relations Board and it's

674
00:38:33.079 --> 00:38:36.360
making how it's made up and how it's enforced. I

675
00:38:36.440 --> 00:38:41.280
think that's fabulous. I think in many respects. And don't

676
00:38:41.280 --> 00:38:44.440
get me wrong, I'm not completely anti union. I am

677
00:38:45.159 --> 00:38:49.159
where anti union, where what the union does is spend

678
00:38:49.159 --> 00:38:54.320
the majority of its times supporting and defending the least

679
00:38:54.519 --> 00:38:58.199
of their union members, the ones that cause forty seven accidents.

680
00:38:58.199 --> 00:39:00.440
They're out there defending. We're the ones that are are

681
00:39:00.519 --> 00:39:04.679
driving the train perfectly every time, they don't get much

682
00:39:04.719 --> 00:39:08.199
support from them. And if we had that kind of

683
00:39:08.199 --> 00:39:11.079
efficiency in work and in the efficiency in hiring and

684
00:39:11.159 --> 00:39:15.239
the quality of labor, that labor could demand more because

685
00:39:15.239 --> 00:39:18.760
they wouldn't be supporting those who should be gone. And

686
00:39:18.800 --> 00:39:20.800
that's that's an issue.

687
00:39:21.079 --> 00:39:24.239
It does seem that it's an administration that is against

688
00:39:24.280 --> 00:39:27.920
success or at least against a high level of success.

689
00:39:28.039 --> 00:39:29.880
Dave. It's because most of them are on business people.

690
00:39:29.960 --> 00:39:30.519
No, I don't.

691
00:39:30.599 --> 00:39:32.719
The way they've always got is using their power and

692
00:39:32.880 --> 00:39:35.840
influence to get paid for stuff. And that's what I

693
00:39:35.880 --> 00:39:39.519
love about the new administration. The billionaires are self made.

694
00:39:39.960 --> 00:39:43.320
The business people, they know you don't wait till next

695
00:39:43.400 --> 00:39:45.320
year to get things done that you can get done now.

696
00:39:45.719 --> 00:39:47.800
They know that there's ways you've got to change things,

697
00:39:47.840 --> 00:39:50.360
you got to do things. One thing they do know

698
00:39:51.360 --> 00:39:54.639
is if you're not bringing in enough revenue over your expenses,

699
00:39:54.679 --> 00:39:57.800
you better cut your expenses. Yeah, okay, And that's where

700
00:39:57.800 --> 00:39:58.159
we're at.

701
00:39:58.199 --> 00:40:00.039
Well, And you know what's interesting to me is the

702
00:40:00.119 --> 00:40:03.559
least self made of him is the actual president elect.

703
00:40:04.760 --> 00:40:05.719
All of the other.

704
00:40:05.599 --> 00:40:08.760
Ones that have been named to these positions have gone

705
00:40:08.760 --> 00:40:12.039
out and struggled and lived in their cars and done things.

706
00:40:12.039 --> 00:40:15.639
I mean, even after he was a billionaire, Elon Musk

707
00:40:15.719 --> 00:40:17.760
was living in what an eight hundred square foot shack

708
00:40:17.800 --> 00:40:20.159
in the middle of nowhere for I.

709
00:40:20.079 --> 00:40:22.360
Mean yeah, I mean he was living in his office too,

710
00:40:22.400 --> 00:40:24.360
and Tesla was struggling to sleep it under the desk,

711
00:40:24.440 --> 00:40:26.440
right because he was still his baby, his company, and

712
00:40:26.480 --> 00:40:28.320
he's still trying to make it work. But he's still

713
00:40:28.360 --> 00:40:30.159
being the one ahead of it because like you said,

714
00:40:30.440 --> 00:40:32.440
he starts from nothing. He wants to keep it where

715
00:40:32.440 --> 00:40:33.079
it is well.

716
00:40:33.079 --> 00:40:35.360
And when I say nothing, I don't mean nothing. I

717
00:40:35.400 --> 00:40:38.760
mean he certainly came from comparative affluence, you know. I

718
00:40:38.800 --> 00:40:42.159
think that that is one of the advantages. But they

719
00:40:42.199 --> 00:40:44.760
went on and they got educations, and they used their

720
00:40:44.840 --> 00:40:47.960
their strengths to their advantage to the extent that they could.

721
00:40:48.280 --> 00:40:52.760
They didn't squander opportunity, which I've seen, particularly being both

722
00:40:52.760 --> 00:40:56.880
a lawyer and an investment advisor. I watch people inherit

723
00:40:57.400 --> 00:41:01.320
millions of dollars and squander it. It's gone. They buy

724
00:41:01.440 --> 00:41:04.639
the fancy car, and it's the rare breed who actually says,

725
00:41:04.679 --> 00:41:05.960
I'm going to take this money and I'm going to

726
00:41:06.000 --> 00:41:08.679
start a business and I'm going to employ four thousand

727
00:41:08.760 --> 00:41:11.119
or five thousand people ten years down the road by

728
00:41:11.159 --> 00:41:15.519
doing it, and that I think deserves some some admiration.

729
00:41:15.440 --> 00:41:18.760
Absolutely, And I think we would admire small businessmen in

730
00:41:18.800 --> 00:41:22.480
general absolutely creating the jobs that they create. And you

731
00:41:22.519 --> 00:41:24.880
look at as small business. Administration seems to look at

732
00:41:24.880 --> 00:41:27.519
small business. Oh, actually, any businesses say, well, that's the

733
00:41:27.719 --> 00:41:30.400
bad people, right, if you're if you're really successful, you

734
00:41:30.480 --> 00:41:32.679
have to be doing something wrong. Yeah, you're employing tens

735
00:41:32.679 --> 00:41:33.559
of thousands of people.

736
00:41:33.679 --> 00:41:36.000
But I've never heard of a large business that didn't

737
00:41:36.039 --> 00:41:38.280
start out as a small business. I mean, look at

738
00:41:38.320 --> 00:41:42.400
Michael Dell. Michael Dell was going building computers in his

739
00:41:42.480 --> 00:41:45.000
dorm room and going door to door selling computers back

740
00:41:45.039 --> 00:41:49.519
in the late eighties, and at one point there was

741
00:41:49.559 --> 00:41:51.719
talk about whether or not Dell was going to succeed.

742
00:41:51.880 --> 00:41:55.199
And now back in back in the saddle, I mean

743
00:41:56.039 --> 00:41:58.639
most companies Microsoft.

744
00:41:58.840 --> 00:42:02.280
Okay, so let's talk. We'll talk technology, all right, We're

745
00:42:02.400 --> 00:42:04.960
you up on the technology as an RIA. I mean

746
00:42:05.039 --> 00:42:06.400
obviously we know the chips.

747
00:42:06.559 --> 00:42:12.000
What's next, Well, I think that the chips here. My

748
00:42:12.159 --> 00:42:18.280
personal opinion is that once AI becomes reliable, because it's

749
00:42:18.320 --> 00:42:20.360
not reliable at this point, I mean, if you ever

750
00:42:20.400 --> 00:42:23.400
go online and ask for information from the AI, some

751
00:42:23.920 --> 00:42:26.960
oftentimes you'll get just bad information. Then you know it

752
00:42:26.960 --> 00:42:31.519
to be bad information. But as it learns, because it

753
00:42:31.599 --> 00:42:34.320
will learn, I think that that's going to get applied

754
00:42:34.360 --> 00:42:37.559
to the biotechnology field in a way that is really

755
00:42:37.639 --> 00:42:41.800
going to move medicine, which is something that is going

756
00:42:41.880 --> 00:42:47.920
to make our lives longer, healthier, happier, and less expensive.

757
00:42:48.440 --> 00:42:50.320
Well, it's the AI chips, and then the next step

758
00:42:50.360 --> 00:42:52.840
is the quantum chips, which Google had to break through

759
00:42:52.880 --> 00:42:54.880
last week with is saying that it has a chip.

760
00:42:55.239 --> 00:42:57.480
It's not going to be everyday use for a few years,

761
00:42:57.559 --> 00:42:59.840
is what it's saying, but it's moving along quicker than

762
00:42:59.840 --> 00:43:02.039
they thought, and it's able to solve these problems in

763
00:43:02.079 --> 00:43:05.360
under like five minutes. It said that supercomputers that work

764
00:43:05.400 --> 00:43:08.800
differently can't a trillion years, yeah, longer than the universe

765
00:43:08.840 --> 00:43:09.360
has been around.

766
00:43:09.800 --> 00:43:10.960
So that's like the next step.

767
00:43:10.960 --> 00:43:13.400
And the reason for it is because the quantum computing

768
00:43:13.480 --> 00:43:16.400
is just so much more dynamic than the original AI

769
00:43:16.440 --> 00:43:19.119
where it's zeros and ones and just a to B

770
00:43:19.280 --> 00:43:21.880
in a sense, well, computing does a to be to

771
00:43:22.000 --> 00:43:24.880
see the all at once, to solve different problems. So

772
00:43:24.920 --> 00:43:27.320
they're saying when it comes to healthcare like that, you

773
00:43:27.360 --> 00:43:29.719
were saying, it's going to be able to put all

774
00:43:29.719 --> 00:43:33.079
the issues that you can possibly see in this computation

775
00:43:33.199 --> 00:43:36.039
and then quantum computing will just spit it out immediately.

776
00:43:36.199 --> 00:43:38.239
Now, I do think you need to take those announcements,

777
00:43:38.360 --> 00:43:41.239
those types of announcements with a grain of salt. I mean,

778
00:43:41.280 --> 00:43:44.719
in the absence of something peer reviewed, it needs to

779
00:43:44.719 --> 00:43:51.360
be very very you just need to be cautious. I

780
00:43:51.400 --> 00:43:54.559
think in in jumping on that. That's why Google rallied

781
00:43:54.559 --> 00:43:56.480
so much this week was because of that announcement.

782
00:43:56.599 --> 00:44:01.400
Now, well, yeah, speculations, but I mean, like they said,

783
00:44:01.519 --> 00:44:03.960
is not going to have an everyday use for at

784
00:44:04.039 --> 00:44:05.239
least two or three years.

785
00:44:05.559 --> 00:44:07.440
It's just they're ahead of the game right now. Then

786
00:44:07.480 --> 00:44:09.239
they thought they thought that they weren't going.

787
00:44:09.199 --> 00:44:11.880
To hit what they just did for another year or so, right,

788
00:44:12.079 --> 00:44:13.840
So it's moving quicker than they think. And then there's

789
00:44:13.880 --> 00:44:16.239
always Google's public so they're showing that. But what other

790
00:44:16.280 --> 00:44:18.480
private companies are working on this that you don't know

791
00:44:18.519 --> 00:44:20.480
all the insights because they don't have to disclose them.

792
00:44:20.440 --> 00:44:24.519
Yet we all know too what happens is Google's, Amazon's apples.

793
00:44:24.719 --> 00:44:27.760
They buy these companies before they get as big as

794
00:44:27.760 --> 00:44:28.480
they are too.

795
00:44:29.079 --> 00:44:31.360
And that's the monopoly issue that they're concerned I know,

796
00:44:32.079 --> 00:44:35.039
and that's what the Federal Trade Commission's concerned about.

797
00:44:35.079 --> 00:44:38.880
But if you think the people developing these companies have

798
00:44:38.960 --> 00:44:41.639
become billionaires by the time the thirty five or forty

799
00:44:41.639 --> 00:44:43.000
are complaining.

800
00:44:42.559 --> 00:44:47.079
No, no, no, no no. I mean, yeah, what's his name,

801
00:44:48.199 --> 00:44:51.519
the guy Mark on the Shark Tank, All Mark Cuban.

802
00:44:51.840 --> 00:44:53.960
I mean that's where he got his money, was selling

803
00:44:54.000 --> 00:44:59.800
out his company. Yeah, yeah, I don't know. I don't

804
00:44:59.800 --> 00:45:01.280
have answer for you. I don't know where it's going

805
00:45:01.320 --> 00:45:04.840
to go. But I think that properly implemented and proper

806
00:45:05.679 --> 00:45:07.960
properly controlled. But here's the thing. I don't want government

807
00:45:07.960 --> 00:45:15.960
controlling it. I want the companies to exercise some discipline

808
00:45:16.360 --> 00:45:20.000
in their use of these things, and I think for

809
00:45:20.039 --> 00:45:25.440
the most part they will. I think that a system

810
00:45:25.480 --> 00:45:29.400
where that by companies are liable for the injury that

811
00:45:29.440 --> 00:45:34.360
they cause will put a break on them introducing things

812
00:45:34.400 --> 00:45:34.880
too early.

813
00:45:35.559 --> 00:45:37.480
And what we don't want also is we don't want

814
00:45:37.519 --> 00:45:40.440
to buy in company so they can't get better than

815
00:45:40.440 --> 00:45:43.159
what they are right, Okay, that's what we don't want. Okay,

816
00:45:43.199 --> 00:45:44.920
we're gonna give you this money. They can about it,

817
00:45:45.039 --> 00:45:46.559
and then they just put it on the shelf that

818
00:45:46.719 --> 00:45:49.960
we don't want. But if these companies say they said, well,

819
00:45:50.000 --> 00:45:52.920
you can't buy these companies right, well, what happens is

820
00:45:52.960 --> 00:45:56.039
then they just fund the companies. They never become public,

821
00:45:56.280 --> 00:45:58.480
which means the only people making the money are the

822
00:45:58.480 --> 00:46:00.840
people at the company, not all the share holder, and

823
00:46:00.880 --> 00:46:02.719
then they buy them privately. No one can stop them

824
00:46:02.719 --> 00:46:03.280
from doing that.

825
00:46:04.159 --> 00:46:06.880
Well, and you know a lot of the biotech firms

826
00:46:06.960 --> 00:46:08.880
either get bought out or get their funding from the

827
00:46:08.920 --> 00:46:12.199
major pharmaceutical companies, I mean Pfizer and merk and these companies,

828
00:46:12.199 --> 00:46:16.800
and as they develop, they have the option of being

829
00:46:16.880 --> 00:46:19.719
bought out or not being bought out. If they're independently traded.

830
00:46:19.800 --> 00:46:20.719
It's like a quant team.

831
00:46:21.679 --> 00:46:25.000
It absolutely is. But here's the deal. If your biotech

832
00:46:25.039 --> 00:46:27.679
company is trading at twenty seven dollars a share and

833
00:46:27.800 --> 00:46:29.920
Pizer comes along and says we're going to pay you

834
00:46:29.960 --> 00:46:32.599
eighty five dollars a share, there'll be hell to pay

835
00:46:32.599 --> 00:46:33.639
if you don't accept that.

836
00:46:33.719 --> 00:46:35.280
Off.

837
00:46:36.039 --> 00:46:39.119
They really are working on half of the hereolder, you

838
00:46:39.199 --> 00:46:40.119
probably need to take.

839
00:46:40.000 --> 00:46:41.920
It right, and the shareholders are the ones who get

840
00:46:41.920 --> 00:46:43.039
the vote on these things.

841
00:46:43.320 --> 00:46:46.519
I think you're right, AI and quantum computing. Probably the

842
00:46:46.519 --> 00:46:50.079
biggest beneficiary is going to be medicine. I think that right.

843
00:46:50.159 --> 00:46:53.360
Right, We're gonna have to avoid the banded actors getting

844
00:46:53.559 --> 00:46:55.639
the hands on this stuff, and it's going to be that.

845
00:46:55.800 --> 00:46:59.400
But you know, but the good stuff of it, it's

846
00:46:59.400 --> 00:47:00.639
gonna be way the bat.

847
00:47:00.840 --> 00:47:02.719
Oh, I think so. I think so. All right, we

848
00:47:02.760 --> 00:47:03.159
only got a.

849
00:47:03.159 --> 00:47:05.360
Couple of seconds left before the bottom of the top

850
00:47:05.360 --> 00:47:07.400
of the hour. Heath, It's been great to see you.

851
00:47:07.440 --> 00:47:10.159
Great to have you around. I'm sure the people going

852
00:47:10.159 --> 00:47:13.280
down memory lane that remember yea back in the early

853
00:47:13.320 --> 00:47:17.239
two thousands and late nineties, and thanks a lot for

854
00:47:17.280 --> 00:47:19.039
being here and helping us, and I look forward to

855
00:47:19.079 --> 00:47:20.920
our relationship even getting better and better.

856
00:47:21.119 --> 00:47:24.559
We'll be right back. It's the Money Matter Show. Welcome

857
00:47:24.599 --> 00:47:26.360
back to the second hour of The Money Matter Show.

858
00:47:26.400 --> 00:47:29.159
I'm doing Greenberg. I'm here with Dave Sherwood, Sebastian Boards, Scene,

859
00:47:29.239 --> 00:47:32.400
Todd Glick, Dian Greenberg, and we had a special guest

860
00:47:32.400 --> 00:47:35.840
a little nostalgia Heath losing lost them, can't say your

861
00:47:35.920 --> 00:47:36.519
last name.

862
00:47:37.440 --> 00:47:37.920
How do you say it?

863
00:47:37.960 --> 00:47:40.960
David Squire? He'th louting yeap.

864
00:47:41.039 --> 00:47:43.840
He worked here from ninety six to two thousand and six.

865
00:47:44.480 --> 00:47:47.039
Yep. Yeah, and was a key key player in my

866
00:47:48.079 --> 00:47:50.239
when you first got settling in here. Yeah. Yeah, I

867
00:47:50.280 --> 00:47:53.400
came here in two thousand and two, and and Heath

868
00:47:53.519 --> 00:47:56.400
was very very important and getting my business transferred and

869
00:47:56.440 --> 00:48:00.480
everything settled in wouldn't probably wouldn't be here without him.

870
00:48:01.000 --> 00:48:04.599
I owe him a great thank you, and uh, it

871
00:48:04.639 --> 00:48:06.679
was an important part of my life for in the

872
00:48:06.719 --> 00:48:07.639
early years for sure.

873
00:48:08.519 --> 00:48:08.800
Yep.

874
00:48:09.360 --> 00:48:11.679
Interesting interesting week in the market. Before we get into that,

875
00:48:11.719 --> 00:48:13.440
I'm going to give a disclaimer. The show sponsored by

876
00:48:13.480 --> 00:48:15.320
the Greenbrik Financial Group and you can listen on seven

877
00:48:15.320 --> 00:48:19.400
to ninety KNSD or iHeartRadio. The show discusses different different

878
00:48:19.400 --> 00:48:22.400
investment products and strategies. Every product and strategy have some

879
00:48:22.480 --> 00:48:25.079
type of an inherent risk, and we strongly encourage our

880
00:48:25.119 --> 00:48:28.440
listeners to properly understand the risk to determine whether to buy, sell,

881
00:48:28.559 --> 00:48:30.599
or hold. The show has been on air for over

882
00:48:30.599 --> 00:48:32.719
thirty years at green Briok Financial Group is registered with

883
00:48:32.719 --> 00:48:35.360
the SEC and a member of FINRA and CIPIK. Visit

884
00:48:35.400 --> 00:48:37.800
our website at greenbriok Financial dot com for some more information.

885
00:48:38.119 --> 00:48:39.760
If you ever want a question answered on air, you

886
00:48:39.800 --> 00:48:42.440
could email us at contact at Greenberg Financial dot com

887
00:48:42.519 --> 00:48:44.079
or give us a call five to two zero five

888
00:48:44.159 --> 00:48:45.960
four four four nine zero nine.

889
00:48:46.079 --> 00:48:47.320
You know, you get really good at that.

890
00:48:47.679 --> 00:48:51.920
It's hard to memorize. It's better perfect, right, Yeah.

891
00:48:51.480 --> 00:48:52.920
And for those of you just tuning in, the Dow

892
00:48:53.000 --> 00:48:54.880
is down one point eight percent for the week. The

893
00:48:54.920 --> 00:48:56.960
S and P five hundred was down point six percent,

894
00:48:57.199 --> 00:49:00.400
the Nasdaq was down or up point three percent, the

895
00:49:00.440 --> 00:49:02.199
Rustle of two thousand was down to and a half percent,

896
00:49:02.239 --> 00:49:05.039
and the RSP, which is the equal weighted SMP, was

897
00:49:05.079 --> 00:49:07.960
down at one point six percent. So across the board,

898
00:49:07.960 --> 00:49:10.360
everything was down except yeah, tech do a little little bit.

899
00:49:10.559 --> 00:49:12.360
And that's the really the big story of this week.

900
00:49:12.840 --> 00:49:15.760
Ten straight days the equal weighted SMP has traded lower.

901
00:49:15.800 --> 00:49:18.599
The dial I think is seven straight days. So now

902
00:49:18.599 --> 00:49:21.320
we're seeing that the breath of the market is not

903
00:49:21.360 --> 00:49:24.440
doing as well as just really the top seven I

904
00:49:24.480 --> 00:49:28.159
think this week. Really what led to all of this

905
00:49:28.599 --> 00:49:31.400
is well not maybe not lead, but it's leading the

906
00:49:31.440 --> 00:49:34.400
way is testless stock run the kind of thing that

907
00:49:34.440 --> 00:49:37.639
makes no sense to anyone was looking at fundamentals. And

908
00:49:38.079 --> 00:49:40.000
also a lot of people who are looking at this

909
00:49:40.039 --> 00:49:42.480
market as a whole, who are trying to look at fundamentals,

910
00:49:42.519 --> 00:49:44.400
they're all kind of getting a little scared at this point,

911
00:49:44.440 --> 00:49:47.239
saying why is only the top seven keep going higher

912
00:49:47.239 --> 00:49:49.280
but the overall market is actually trending lower.

913
00:49:49.440 --> 00:49:51.519
Yeah, and you've made a very very good point. And

914
00:49:51.599 --> 00:49:54.239
Joyce Bank points this out on Friday that there's been

915
00:49:54.360 --> 00:49:57.840
ten consecutive days where the losers have outnumbered the gainers.

916
00:49:58.239 --> 00:50:01.519
We haven't seen that since twenty twenty. Wow, so three

917
00:50:01.559 --> 00:50:04.559
and a half years since we've we've seen ten consecutive

918
00:50:04.639 --> 00:50:06.719
days we're losers out number.

919
00:50:06.559 --> 00:50:09.119
And this was the first time since twenty twenty that

920
00:50:09.119 --> 00:50:10.679
that was down seven days straight.

921
00:50:11.000 --> 00:50:13.599
So, oh, that's interesting. That was down seven days in

922
00:50:13.639 --> 00:50:15.880
a row. Yep, you on every day this last week.

923
00:50:16.039 --> 00:50:18.639
And also what's interesting is you had rates actually increased

924
00:50:18.639 --> 00:50:22.239
this week. Bit should hurt tech stocks. I mean range

925
00:50:22.800 --> 00:50:23.159
at all.

926
00:50:23.239 --> 00:50:25.880
Zero point four on the tenure, which is up about

927
00:50:26.199 --> 00:50:28.880
twelve percent of the rates up about twelve percent from

928
00:50:28.880 --> 00:50:31.599
what it was last week. That's pretty significant, and I

929
00:50:31.639 --> 00:50:35.719
don't know what the FED is thinking still a high

930
00:50:35.760 --> 00:50:38.880
probability that they can. There's certainty short term rates next week.

931
00:50:39.239 --> 00:50:42.079
And I don't know anybody in the business or anybody

932
00:50:42.119 --> 00:50:44.480
I talked to that has any brains that thinks this

933
00:50:44.599 --> 00:50:47.800
is a good idea. And of course this week we

934
00:50:47.800 --> 00:50:51.039
were watching for the CPI and the PPI. Both of

935
00:50:51.079 --> 00:50:53.239
them showed inflation moving higher.

936
00:50:53.400 --> 00:50:56.239
Well, the CPI was in line with expectations, but higher

937
00:50:56.320 --> 00:50:56.880
year over year.

938
00:50:56.960 --> 00:50:59.239
Yeah, yeah, I know, I was expectations. Who cares if

939
00:50:59.239 --> 00:51:00.559
it's going higher, right right?

940
00:51:00.639 --> 00:51:04.119
They outpace it because the wholesale was just the PPI

941
00:51:04.280 --> 00:51:06.440
outpaced the expectations er point four percent.

942
00:51:06.639 --> 00:51:10.800
Yeah, but core even is stickier than the headline number.

943
00:51:10.920 --> 00:51:13.800
Inflation is the highest since July, and now we're going

944
00:51:13.880 --> 00:51:15.440
to cut rage by another quarter.

945
00:51:15.719 --> 00:51:17.960
The only thing that the Fed has continued to lay

946
00:51:18.000 --> 00:51:20.840
their hat on is the labor market, saying that it's softening.

947
00:51:21.039 --> 00:51:23.679
Most of the job growth, and the Heath pointed this out.

948
00:51:23.679 --> 00:51:25.480
Most of the job growth is, you know, obviously the

949
00:51:25.480 --> 00:51:28.119
government jobs, and if you take government jobs out, there's

950
00:51:28.119 --> 00:51:31.079
not much job growth at all. So you start to

951
00:51:31.119 --> 00:51:33.840
realize that potentially is that with the FEDS looking at

952
00:51:34.239 --> 00:51:37.480
they have two mandates. The labor market and the inflation rate.

953
00:51:37.960 --> 00:51:40.199
The inflation rate doesn't seem like they can't really care

954
00:51:40.239 --> 00:51:42.360
about right now. They're really just putting all their focus

955
00:51:42.400 --> 00:51:45.159
on the labor market and saying that's getting softening, so

956
00:51:45.400 --> 00:51:47.599
that gives us the reason that we can continue cutting rates.

957
00:51:47.639 --> 00:51:49.679
But as you said, most people think that this is

958
00:51:49.679 --> 00:51:50.320
not a good idea.

959
00:51:50.519 --> 00:51:52.719
I was focused on inflation last night when I went

960
00:51:52.760 --> 00:51:53.559
to get a Chipotle.

961
00:51:54.360 --> 00:51:55.119
How much was it?

962
00:51:55.239 --> 00:51:57.840
Seven ninety five is what I paid in twenty nineteen.

963
00:51:57.920 --> 00:51:59.679
I remember because I get it once a week, right,

964
00:52:00.119 --> 00:52:01.039
seven ninety five.

965
00:52:01.159 --> 00:52:02.119
Probably wrote it down.

966
00:52:01.960 --> 00:52:04.599
A week ago it was twelve twelve. Oh gosh, okay,

967
00:52:04.880 --> 00:52:08.119
last night it was twelve twenty four. And then what

968
00:52:08.239 --> 00:52:11.360
in the heck up ten cents since last week? She goes, Yeah,

969
00:52:11.360 --> 00:52:14.079
we just just increased our prices. Take yourself to Cava

970
00:52:14.239 --> 00:52:17.760
get a fifty four percent increase in the last five years.

971
00:52:17.880 --> 00:52:18.679
That's ridiculous.

972
00:52:18.880 --> 00:52:20.119
Yeah, I mean that's the same with I go to

973
00:52:20.159 --> 00:52:23.039
Starbucks pretty frequently and I get the same nitil colbrew

974
00:52:23.119 --> 00:52:26.280
the Grande, and four years ago it is like four

975
00:52:26.280 --> 00:52:26.719
to twenty.

976
00:52:26.920 --> 00:52:28.119
Now it's six twenty.

977
00:52:28.400 --> 00:52:31.119
Seabst spent twenty two bucks on two tacos last night.

978
00:52:31.119 --> 00:52:33.119
It was insane. I've never done something like that in

979
00:52:33.159 --> 00:52:35.599
my life. That was up at North almost threw out

980
00:52:35.920 --> 00:52:38.639
that was up at North Blanco of in North, I've

981
00:52:38.679 --> 00:52:40.519
never you know, I'll go, you spent twenty I can't.

982
00:52:40.639 --> 00:52:42.639
I can't found them spending four dollars on the taco,

983
00:52:42.800 --> 00:52:43.320
never mind.

984
00:52:43.199 --> 00:52:44.559
Eleven dollars for taco.

985
00:52:44.840 --> 00:52:48.199
For taco, this the body wash we get right, you

986
00:52:48.239 --> 00:52:49.280
get rice and beans too.

987
00:52:50.360 --> 00:52:52.480
Okay, we get rice and beach. You get double order

988
00:52:52.559 --> 00:52:53.039
rice and beans.

989
00:52:53.039 --> 00:52:55.840
If you get two tacos or places are conditioned, well,

990
00:52:55.880 --> 00:52:56.239
there's that.

991
00:52:56.400 --> 00:52:59.480
You know Amazon Prime because it had the Thursday night

992
00:52:59.480 --> 00:53:00.199
football game on.

993
00:53:00.320 --> 00:53:04.679
So that's something that's for two tacos and beans and

994
00:53:04.760 --> 00:53:05.679
rice only.

995
00:53:06.039 --> 00:53:07.920
That's how That's how you make it in the restaurant business.

996
00:53:08.039 --> 00:53:11.320
You gotta have the right and so what the big

997
00:53:11.360 --> 00:53:13.800
headline this past week was. I started looking at the

998
00:53:13.840 --> 00:53:15.559
different things that happened during the weekend. It was kind

999
00:53:15.559 --> 00:53:17.960
of quiet, really. I think the big headline last week

1000
00:53:18.039 --> 00:53:21.119
was probably the college football playoffs announcement.

1001
00:53:20.599 --> 00:53:21.480
Right that one of them.

1002
00:53:21.719 --> 00:53:23.280
They gave all the grids and who was playing who

1003
00:53:23.320 --> 00:53:25.880
and as us gets to buy the first week and

1004
00:53:26.519 --> 00:53:28.320
I know we're a wildcat country here and we're supposed

1005
00:53:28.320 --> 00:53:30.079
to hate the devils, but it's kind of nice seeing

1006
00:53:30.079 --> 00:53:31.039
Arizona team in the.

1007
00:53:31.360 --> 00:53:33.119
First and only Arizona team that never make the Coast

1008
00:53:33.159 --> 00:53:33.679
of the playoffs.

1009
00:53:33.679 --> 00:53:37.239
So yeah, well they only uh graphic that they came

1010
00:53:37.280 --> 00:53:39.599
out with, like the Contenders and all this. They put

1011
00:53:39.719 --> 00:53:41.679
you of A's logo instead of a SU.

1012
00:53:42.400 --> 00:53:45.599
Oh no really, yeah, Oh my goodness. That's got to

1013
00:53:45.719 --> 00:53:47.840
kill you, right, you're a SU.

1014
00:53:47.960 --> 00:53:51.360
Was sixteenth in the preseason pull in the Big twelve, sixteen.

1015
00:53:51.039 --> 00:53:53.519
Out of sixteen, and it absolutely it's like TCU two

1016
00:53:53.599 --> 00:53:56.719
years ago came out of nowhere and just and they

1017
00:53:56.800 --> 00:54:00.360
really look like world beaters. Now they're going to probably plays.

1018
00:54:00.400 --> 00:54:02.639
I think Texas will be Clemson. I don't know that

1019
00:54:02.719 --> 00:54:05.119
they can be Texas, but if they can, it might

1020
00:54:05.159 --> 00:54:08.440
be a second national championship trophy, the only one, the

1021
00:54:08.480 --> 00:54:12.079
only national championship trophy in a major sport in Arizona

1022
00:54:12.559 --> 00:54:18.599
at the University of Arizona. Sostall one on yeah versus issues.

1023
00:54:18.519 --> 00:54:20.719
Always talking this crap. It's like a SU's in there.

1024
00:54:20.800 --> 00:54:22.719
I feel good about it. I'm happy for the guy.

1025
00:54:22.800 --> 00:54:25.599
No, absolutely, and I remember when the UA was planning

1026
00:54:25.639 --> 00:54:29.400
for for the national Championship, they had a commercial where

1027
00:54:29.440 --> 00:54:31.920
Bill Frieder was it. Bill Frieder was the coach of

1028
00:54:31.960 --> 00:54:34.079
a issue at the time, and they had a picture

1029
00:54:34.119 --> 00:54:37.639
of him watching going go wild. No, I mean with

1030
00:54:37.840 --> 00:54:42.039
Arizona team, let's go. I mean, I it's probably going

1031
00:54:42.079 --> 00:54:45.119
to be intolerable around my SU people, I know, but

1032
00:54:46.079 --> 00:54:51.239
you know, for him, market record highs everywhere, Todd you mentioned,

1033
00:54:52.760 --> 00:54:53.840
I don't know how it goes.

1034
00:54:54.159 --> 00:54:58.159
Tessel again leads the way of just concern because why

1035
00:54:58.199 --> 00:55:02.159
would a market be giving this much premium to a

1036
00:55:02.199 --> 00:55:03.760
stock that doesn't deserve it.

1037
00:55:03.760 --> 00:55:06.079
It's just And the Tesla thing is kind of crazy

1038
00:55:06.119 --> 00:55:08.679
because that they're what they're doing is they're saying, what's

1039
00:55:09.199 --> 00:55:11.719
what kind of wonderful things is Trump going to do

1040
00:55:11.840 --> 00:55:14.280
to repay Elon for his Yeah.

1041
00:55:14.559 --> 00:55:15.840
And now it's turned into like kind of fear of

1042
00:55:15.840 --> 00:55:16.480
missing out too.

1043
00:55:16.480 --> 00:55:17.679
I feel I think so too.

1044
00:55:17.840 --> 00:55:20.480
I mean, it's gone up eighty nine since Trump got

1045
00:55:20.519 --> 00:55:23.760
elected for no reason other than what you just said.

1046
00:55:23.920 --> 00:55:27.639
No Friday, on Friday, first first bullet was shot. On Friday,

1047
00:55:28.239 --> 00:55:32.280
Trump's team recommended ending a rule for reporting car crashes.

1048
00:55:32.760 --> 00:55:37.519
Tesla has the most crashes reported under that rule. So

1049
00:55:37.960 --> 00:55:41.159
let's just end this. So that's you know, so there

1050
00:55:41.199 --> 00:55:44.000
he's doing number one. And I mean, there's an awfully

1051
00:55:44.039 --> 00:55:46.800
lot of things Trump can do. He's gonna have to

1052
00:55:46.840 --> 00:55:49.119
do a lot. The the pe ratio.

1053
00:55:48.920 --> 00:55:49.800
On this thing is insane.

1054
00:55:50.000 --> 00:55:50.280
What's that?

1055
00:55:50.440 --> 00:55:51.079
What's that right now?

1056
00:55:51.119 --> 00:55:53.920
I think it's like, I mean.

1057
00:55:53.920 --> 00:55:57.119
Yeah, and no structural, no fundamental change within the business model, Liss.

1058
00:55:57.119 --> 00:55:59.000
It went up six dollars six weeks.

1059
00:55:59.119 --> 00:56:01.599
Yeah, then it went up six dollars in like the

1060
00:56:01.639 --> 00:56:04.119
last three minutes of trading. When something happens like that,

1061
00:56:04.119 --> 00:56:07.800
that's just purely options manipulation. Like when you have a

1062
00:56:07.840 --> 00:56:10.079
stock that's going up, it's kind of like the same

1063
00:56:10.079 --> 00:56:12.840
thing going down. It can be exacerbated very quickly, and

1064
00:56:12.880 --> 00:56:15.199
then you have these huge run ups or huge downturns

1065
00:56:15.199 --> 00:56:18.079
and kind of can be over overdone very quickly.

1066
00:56:18.199 --> 00:56:21.920
Absolutely, a little housekeeping thing from last My Thanksgiving and

1067
00:56:21.960 --> 00:56:25.880
comment generated several calls and corrections. Jyan, you and I

1068
00:56:25.920 --> 00:56:28.400
were both on that. We weren't necessarily agreeing, and we

1069
00:56:28.440 --> 00:56:31.400
were both turns out we're both wrong. I said Lincoln

1070
00:56:31.480 --> 00:56:35.800
was responsible for Thanksgiving. Turns out it was George Washington

1071
00:56:36.800 --> 00:56:40.599
who first proclaimed the last Thursday of November as Thanksgiving

1072
00:56:40.679 --> 00:56:43.519
Day as a day of Thanksgiving in prayer. George Washington.

1073
00:56:44.000 --> 00:56:48.239
Lincoln was responsible for making it a national holiday. Oh yeah,

1074
00:56:48.760 --> 00:56:51.400
I say, when we give information, if we get it wrong,

1075
00:56:51.440 --> 00:56:53.280
give us a call. You'd like to get it right,

1076
00:56:53.440 --> 00:56:54.199
like to do the right thing.

1077
00:56:54.320 --> 00:56:56.719
And then Congress was responsible for making it the fourth

1078
00:56:56.760 --> 00:56:58.840
Thursday every month or every November.

1079
00:56:59.280 --> 00:57:02.559
Georgie did that. Actually, George Washington proclaimed the last Thursday

1080
00:57:02.559 --> 00:57:07.119
of November as the day of Thanksgiving and prayer. That's

1081
00:57:07.119 --> 00:57:09.400
a I was. That was point that was pointed out

1082
00:57:09.480 --> 00:57:11.880
to me by a listener, and I google it. Sure enough,

1083
00:57:11.920 --> 00:57:12.559
that's what it said.

1084
00:57:12.599 --> 00:57:13.440
Thanksgivings over.

1085
00:57:14.039 --> 00:57:15.719
Yeah, it doesn't mean it doesn't matter.

1086
00:57:15.760 --> 00:57:17.840
So I'll give us some Christmas fun facts.

1087
00:57:18.440 --> 00:57:19.239
You got a Christmas fund?

1088
00:57:19.440 --> 00:57:21.400
No, I don't say that's up to you. It's Christmas

1089
00:57:21.400 --> 00:57:22.199
time now, thanks.

1090
00:57:22.000 --> 00:57:24.880
So it's not christ you know, it's a really Christmas time.

1091
00:57:24.920 --> 00:57:27.559
I mean it's a it's December fourteenth or.

1092
00:57:27.519 --> 00:57:27.920
Whatever is.

1093
00:57:30.039 --> 00:57:31.719
Lessen two weeks out. It's Christmas time.

1094
00:57:32.199 --> 00:57:32.360
You know.

1095
00:57:32.400 --> 00:57:34.360
What's the biggest thing about this time of the year

1096
00:57:34.360 --> 00:57:37.920
for me is December twenty. First, the sun starts moving north.

1097
00:57:38.000 --> 00:57:42.480
Ask your grand I mean, Dave, No North, get Dave.

1098
00:57:42.920 --> 00:57:45.320
Ask your grandkids if it's Christmas time, I guarantee.

1099
00:57:45.599 --> 00:57:48.719
I don't know. No, we're a wee week out from

1100
00:57:48.760 --> 00:57:51.199
the sun's starting to move back north, and you know

1101
00:57:51.239 --> 00:57:53.760
how I hate the cold, so I'm looking forward to

1102
00:57:53.920 --> 00:57:56.239
some of them back. We you know. Interesting, here's the

1103
00:57:56.320 --> 00:58:00.760
real problem in this world. The US budget deficit. We

1104
00:58:00.880 --> 00:58:03.599
got this report last week, twelve to three hundred and

1105
00:58:03.599 --> 00:58:10.000
sixty six point eight billion, seventeen percent higher than November

1106
00:58:10.119 --> 00:58:13.480
of last year. Seventeen percent. The budget deficit is seventeen

1107
00:58:13.559 --> 00:58:16.880
percent higher than it was last year, taking the total

1108
00:58:16.920 --> 00:58:19.559
for the first two months of the fiscal year fiscal

1109
00:58:19.639 --> 00:58:23.079
year starts in October right to more than sixty percent,

1110
00:58:23.519 --> 00:58:26.119
four percent higher than last year. The first two months

1111
00:58:26.840 --> 00:58:31.199
sixty four percent bigger deficit than last year. And that

1112
00:58:32.039 --> 00:58:37.360
increase came despite receipts. The total twenty seven billion dollars

1113
00:58:37.360 --> 00:58:39.880
more than November.

1114
00:58:39.519 --> 00:58:41.360
Last Did you say that because of rates?

1115
00:58:41.800 --> 00:58:43.920
Are you kidding? It's gotta be right, Oh, it's got

1116
00:58:43.920 --> 00:58:46.320
to be. That's a big part of it. Interesting, And

1117
00:58:46.360 --> 00:58:48.760
I'm spending like drunken sailors.

1118
00:58:48.440 --> 00:58:50.599
Right there, wasn't There wasn't any cuts in the latest

1119
00:58:50.639 --> 00:58:51.679
budget proposal right.

1120
00:58:51.639 --> 00:58:55.159
Reading brought the national death to thirty six point one

1121
00:58:55.599 --> 00:58:59.960
trillion at the end of November thirty six point one trillion.

1122
00:59:00.079 --> 00:59:03.960
And so here's the question. Nobody in politics is talking

1123
00:59:03.960 --> 00:59:07.719
about this, right because if you're going to lower the

1124
00:59:07.760 --> 00:59:11.000
budget deficit, you've either got to do away with entitlement

1125
00:59:11.039 --> 00:59:15.559
programs or you've got to raise taxes or both correct, yeah,

1126
00:59:15.679 --> 00:59:18.639
or neither of those is going to be proposed by

1127
00:59:18.639 --> 00:59:22.599
any politician or they're out of office. So how do

1128
00:59:22.639 --> 00:59:24.199
you how do you deal with this thing?

1129
00:59:24.519 --> 00:59:27.760
You just keep inflating it away, I guess eventually, I mean,

1130
00:59:27.920 --> 00:59:31.320
but the that's what they've been doing, right, But we're.

1131
00:59:31.119 --> 00:59:35.800
Looking at the important part is debt to GDP. That's

1132
00:59:35.840 --> 00:59:40.199
that's the key figure, debt to GDP. The debt to

1133
00:59:40.280 --> 00:59:42.559
GDP right now is one hundred and twenty three percent.

1134
00:59:43.079 --> 00:59:45.199
The debt is one hundred and twenty three percent greater

1135
00:59:45.320 --> 00:59:48.360
than GDP. That's that's the figure you want to look at.

1136
00:59:48.400 --> 00:59:51.639
Debt to GDP now. In all fairness, it was one

1137
00:59:51.719 --> 00:59:56.679
hundred and thirty percent back in back in twenty twenty

1138
00:59:56.719 --> 01:00:00.079
when the economy shut down obviously, but one hundred, one

1139
01:00:00.119 --> 01:00:02.599
hundred and twenty three percent, okay, So at what level

1140
01:00:03.920 --> 01:00:06.800
does debt become insurmountable?

1141
01:00:07.719 --> 01:00:07.920
You know?

1142
01:00:08.280 --> 01:00:10.159
And that's what you have to ask yourself when we're

1143
01:00:10.400 --> 01:00:14.599
moving in that direction. We're not there yet obviously, but

1144
01:00:14.679 --> 01:00:15.880
that's the direction we're going.

1145
01:00:16.920 --> 01:00:20.239
The crazy part about it, though, is because all countries

1146
01:00:20.280 --> 01:00:23.199
are also doing the same thing. It's i mean, the

1147
01:00:23.519 --> 01:00:26.639
water's rising for everyone. So where are you going to

1148
01:00:26.679 --> 01:00:29.599
go in comparison in Argentina, I guess, I mean they're

1149
01:00:29.599 --> 01:00:30.679
the only ones not doing.

1150
01:00:30.760 --> 01:00:32.880
Yeah, right now, that's kind of what can happen when

1151
01:00:33.199 --> 01:00:34.679
all things just you know, crazy.

1152
01:00:34.800 --> 01:00:37.440
I mean people eventually they might leave the country if

1153
01:00:37.519 --> 01:00:39.880
it's if it's so bad, and then obviously that's even

1154
01:00:40.000 --> 01:00:43.039
less tax revenue, and then the problem gets even worse,

1155
01:00:43.079 --> 01:00:46.320
and then eventually the country would fail at that point, I.

1156
01:00:46.320 --> 01:00:49.360
Guess, I just am continually shocked that no one in

1157
01:00:49.639 --> 01:00:52.400
power ever talks about it at all.

1158
01:00:53.599 --> 01:00:55.559
Well, I mean, I think at the end of the day,

1159
01:00:55.679 --> 01:00:57.960
when they have a money system that they can just

1160
01:00:58.039 --> 01:01:02.079
easily print and make widely event elable, socialistic policies can

1161
01:01:02.159 --> 01:01:04.559
be brought up because you can just inflate the bad

1162
01:01:04.559 --> 01:01:07.440
policy results away. You know, if all of a sudden,

1163
01:01:07.440 --> 01:01:09.559
these people doesn't actually do anything productive and you gave

1164
01:01:09.599 --> 01:01:11.800
them a whole bunch of money, well just print more

1165
01:01:11.840 --> 01:01:13.760
money and then you fix the problem. And that just

1166
01:01:13.760 --> 01:01:15.360
seems like what they do. You know, they just keep

1167
01:01:15.440 --> 01:01:17.000
kicking the count on the oat because it means that

1168
01:01:17.039 --> 01:01:18.559
they always retain the power.

1169
01:01:19.760 --> 01:01:22.960
Another we had interest rates, like you say, moved up

1170
01:01:23.000 --> 01:01:25.639
next week on the calendar. We've got retail sales on Tuesday.

1171
01:01:26.360 --> 01:01:28.880
The fat of course on Wednesday, probably cut and rate

1172
01:01:28.960 --> 01:01:32.519
another quarter. All we can't figure that out. Thursday, the PCEE,

1173
01:01:32.840 --> 01:01:37.280
which is the Fed's favorite gauge of inflation, busy week. Yeah,

1174
01:01:37.360 --> 01:01:39.920
China was up one percent last week, which is a

1175
01:01:39.920 --> 01:01:43.239
second week up after three weeks to decline, up about

1176
01:01:43.239 --> 01:01:43.760
four bucks.

1177
01:01:43.920 --> 01:01:44.119
Yeah.

1178
01:01:44.159 --> 01:01:47.320
I think that's why you might have seen China up

1179
01:01:47.360 --> 01:01:47.840
one percent.

1180
01:01:47.960 --> 01:01:48.079
Yea.

1181
01:01:48.199 --> 01:01:50.079
I mean, if China's up one percent, there's obviously some

1182
01:01:50.119 --> 01:01:52.159
activity going on there that means oil should see a

1183
01:01:52.199 --> 01:01:53.199
little bit of a bump.

1184
01:01:53.360 --> 01:01:56.000
Yeah. And I think you've got two things working on oil. One,

1185
01:01:56.360 --> 01:01:59.800
the feeling that Trump is going to create more supply.

1186
01:02:00.079 --> 01:02:02.360
We can put pressure on the price. But then too,

1187
01:02:02.440 --> 01:02:04.960
you've got China in the in the dol drums. Yeah,

1188
01:02:05.000 --> 01:02:08.960
if China were to come alive, that oil price could

1189
01:02:09.000 --> 01:02:09.519
be pushed up.

1190
01:02:09.559 --> 01:02:12.440
Well, China, on Thursday they pledged more stimulus measures, so

1191
01:02:12.480 --> 01:02:14.239
I'm thinking that that's probably yeah.

1192
01:02:14.400 --> 01:02:17.039
Yeah, at first the market was unimpressed by the stimulus.

1193
01:02:17.119 --> 01:02:19.679
Well yea that they want more and more. I didn't

1194
01:02:19.800 --> 01:02:22.559
see a figure that we are in fact producing more

1195
01:02:22.840 --> 01:02:24.840
barrels of oil than we ever have in the history.

1196
01:02:25.119 --> 01:02:27.719
Currently now it's still that way, and it's largely only

1197
01:02:27.800 --> 01:02:30.880
due to fracking. Once we were able to create fracking,

1198
01:02:30.960 --> 01:02:33.119
that's it opened the door to a lot of our field.

1199
01:02:33.199 --> 01:02:35.360
So I think actually as a country, we produce more

1200
01:02:35.400 --> 01:02:38.440
than any other country, like we dwarf Saudi Arabia now

1201
01:02:38.480 --> 01:02:41.159
and so we're not as dependent on other countries for.

1202
01:02:41.159 --> 01:02:44.400
Oil and that's a good thing. We dwarf Saudi Arabia.

1203
01:02:44.280 --> 01:02:46.840
Ye, we actually produce a lot more, a lot more,

1204
01:02:47.000 --> 01:02:49.280
And I was I was surprised by that, but yeah,

1205
01:02:49.280 --> 01:02:51.519
I mean it's it's all because of fracking and we

1206
01:02:51.599 --> 01:02:55.199
have more capacity to do more, you know, which is

1207
01:02:55.199 --> 01:02:57.960
obviously even more of a reason that oil could go lower.

1208
01:02:57.960 --> 01:03:00.519
But you know, I wonder how long those projects actually

1209
01:03:00.559 --> 01:03:02.599
take to come alive. Like we talked about how nuclear

1210
01:03:02.679 --> 01:03:05.239
takes a long time. Oil doesn't take that long, maybe

1211
01:03:05.320 --> 01:03:07.280
one or two years, but there's definitely a lag effect

1212
01:03:07.280 --> 01:03:09.559
to when that supply actually does get brought to the market.

1213
01:03:09.599 --> 01:03:11.760
Yeah, I'm looking as of twenty twenty three, but twenty

1214
01:03:11.760 --> 01:03:14.559
two million barrels per days the United States and Saudi

1215
01:03:14.559 --> 01:03:16.320
Arabia is about eleven point one three.

1216
01:03:16.119 --> 01:03:19.440
Barrels double gobble Saudi Arabia. Isn't that amazing? No one would.

1217
01:03:19.519 --> 01:03:21.360
You wouldn't have guessed everyone would lose that bad.

1218
01:03:21.440 --> 01:03:25.760
Yeah, and then I guess the third.

1219
01:03:24.320 --> 01:03:25.920
Who's a third large is producer?

1220
01:03:26.079 --> 01:03:26.360
Yeah?

1221
01:03:26.400 --> 01:03:30.199
Behind h Russian Canada, Russia, Russia, Yeah yeah, Russia. Yeah,

1222
01:03:30.239 --> 01:03:30.639
that's good.

1223
01:03:30.679 --> 01:03:32.800
Canada has been doing absolutely terrible. I mean, why you

1224
01:03:32.800 --> 01:03:35.840
brought it up. I mean, their currency has just absolutely

1225
01:03:35.880 --> 01:03:39.760
gone wrecked against the US dollar because of their socialistic policies.

1226
01:03:40.679 --> 01:03:44.400
And then he is just ruining that country, and those

1227
01:03:44.440 --> 01:03:46.280
policies are the reason for it.

1228
01:03:46.719 --> 01:03:50.760
We have a client with a relatively substantial real estate

1229
01:03:50.800 --> 01:03:54.079
holding in Canada, and if you're a non resident of

1230
01:03:54.119 --> 01:03:57.000
Canada and you go to sell your property, the capital

1231
01:03:57.079 --> 01:03:59.400
gains taxes sixty five percent.

1232
01:03:59.480 --> 01:04:00.920
And I think we saw you know, when you're talking

1233
01:04:00.960 --> 01:04:03.440
about death to GDP, it matters way more for a

1234
01:04:03.480 --> 01:04:06.039
country like Canada. Yes, who doesn't have the world deserve

1235
01:04:06.119 --> 01:04:08.719
currency compared to ours, right, because we have a lot

1236
01:04:08.760 --> 01:04:11.079
more like people actually will still invest in treasuries no

1237
01:04:11.079 --> 01:04:12.440
matter what did.

1238
01:04:12.320 --> 01:04:15.519
The client previously live in Canada or he just invested in.

1239
01:04:15.599 --> 01:04:18.199
What happened is his This is an eighty five year

1240
01:04:18.199 --> 01:04:21.119
old guy and his parents bought this property when he

1241
01:04:21.239 --> 01:04:22.639
was a little child.

1242
01:04:22.719 --> 01:04:23.079
I see.

1243
01:04:23.440 --> 01:04:25.159
So it's just a family place and they go there

1244
01:04:25.199 --> 01:04:28.559
every summer and you can imagine it's appreciated off the charts,

1245
01:04:28.599 --> 01:04:33.119
and any gain of sixty goes to the government. Is

1246
01:04:33.159 --> 01:04:33.880
that insane or what?

1247
01:04:34.159 --> 01:04:34.440
Yeah?

1248
01:04:34.599 --> 01:04:38.480
Is that insane? Bitcoin had another wild week, Todd. You

1249
01:04:38.480 --> 01:04:42.239
know a couple of catalysts. A big upside catalyst for

1250
01:04:43.039 --> 01:04:45.559
bitcoin was going to be Microsoft adding it to their

1251
01:04:45.599 --> 01:04:49.039
balance sheet, and they voted no. They voted no, they

1252
01:04:49.039 --> 01:04:52.199
will not add that to the balance sheet. However, Trump

1253
01:04:52.280 --> 01:04:55.360
repeated his support for the currency, and it responded by

1254
01:04:55.400 --> 01:04:58.280
dropping a couple of percent after he said that, you know,

1255
01:04:58.480 --> 01:05:01.760
it reminds me of a coiled rattlesnake, and I do

1256
01:05:01.800 --> 01:05:04.000
a lot of hiking, so I see a few coiled

1257
01:05:04.039 --> 01:05:06.280
rattlesnakes in my life. And I don't know if this

1258
01:05:06.320 --> 01:05:08.800
thing is going to strike or if someone's going to

1259
01:05:08.920 --> 01:05:10.519
hit it over the head of the shovel. I really

1260
01:05:10.559 --> 01:05:12.960
just I'm not sure which one or the other. It's

1261
01:05:13.000 --> 01:05:14.559
either going to have his head chopped off with a

1262
01:05:14.639 --> 01:05:16.039
shovel or it's going to strike.

1263
01:05:16.400 --> 01:05:16.559
You know.

1264
01:05:16.679 --> 01:05:20.559
I found interesting is black Rock, the largest asset manager

1265
01:05:20.679 --> 01:05:23.880
in the world, said that they believe that if you

1266
01:05:23.880 --> 01:05:25.960
want to start a position, they think it's reasonable start

1267
01:05:25.960 --> 01:05:27.320
with like a two percent position.

1268
01:05:27.559 --> 01:05:29.599
Reasonable to start a position now at this.

1269
01:05:29.599 --> 01:05:33.079
Level, yeah, two percent of your portfolio, and so you know,

1270
01:05:33.119 --> 01:05:35.719
it's I thought that was interesting because you think about

1271
01:05:35.719 --> 01:05:37.800
it if a company was to put two percent, and

1272
01:05:37.840 --> 01:05:40.360
you know, obviously Microsoft struck it down, but there's going

1273
01:05:40.400 --> 01:05:41.840
to be companies that do this, and if there's the

1274
01:05:41.880 --> 01:05:45.119
Bitcoin bill, that's the major catalyst that bitcoiners are really

1275
01:05:45.159 --> 01:05:47.960
thinking about. The Bitcoin Bill was brought up by a

1276
01:05:48.000 --> 01:05:51.039
senator from Wyoming, Cynthia Loomis I believe her name is,

1277
01:05:51.480 --> 01:05:54.440
and it'd be a strategic reserve a bitcoin for the

1278
01:05:54.519 --> 01:05:57.760
United States and meaning that they would buy some bitcoin

1279
01:05:57.840 --> 01:05:59.719
and hold it as a strategic reserve, the same thing

1280
01:05:59.719 --> 01:06:02.239
that we for oil. You do the same thing with

1281
01:06:02.480 --> 01:06:03.679
bitcoin as a commodity.

1282
01:06:03.719 --> 01:06:05.679
And again, if you're listening and you have no interest

1283
01:06:05.719 --> 01:06:08.559
in bitcoin, I get it, but there are a tremendous

1284
01:06:08.639 --> 01:06:10.800
number of people that do. Now all of a sudden,

1285
01:06:10.840 --> 01:06:12.679
we're getting a lot of calls. We know there's a

1286
01:06:12.719 --> 01:06:15.440
lot of interest because it's doubled. It's doubled over the

1287
01:06:15.480 --> 01:06:19.440
last what todd three months or thereabout, So there is

1288
01:06:19.480 --> 01:06:21.199
a lot of interesting and we want to talk about it.

1289
01:06:21.239 --> 01:06:23.280
We want to try to give you some facts about it.

1290
01:06:24.000 --> 01:06:27.119
Be careful. Todd's ad two percent, I think that's probably

1291
01:06:27.159 --> 01:06:30.559
a reasonable level to have a bitcoin if you want

1292
01:06:30.559 --> 01:06:34.360
to have some fun, will become a strategic cruiserve. I

1293
01:06:34.360 --> 01:06:37.119
don't know, it's it's one of those things that it.

1294
01:06:37.039 --> 01:06:39.639
Can easily drop fifty percent, and if two percent becomes

1295
01:06:39.639 --> 01:06:41.840
one percent, that's not going to hurt your portfolio too bad.

1296
01:06:42.800 --> 01:06:44.639
Whereas if you may get ten percent your PORFOLI and

1297
01:06:44.679 --> 01:06:46.599
it drops sixty percent, well that you lose five percent.

1298
01:06:46.599 --> 01:06:48.800
That's going to feel differently. So start off small and

1299
01:06:48.840 --> 01:06:50.840
then yeah.

1300
01:06:50.679 --> 01:06:52.440
Do you think Dylan bike our whole bitcoin.

1301
01:06:52.760 --> 01:06:55.000
Yeah, no, I think bitcoin could be part of your portfolio.

1302
01:06:55.039 --> 01:06:56.800
What I was going to say is a lot of

1303
01:06:56.840 --> 01:06:59.000
older clients that now interested in it. Yeah, all of

1304
01:06:59.039 --> 01:07:02.000
a sudden, a lot more people over sixty, over seventy,

1305
01:07:02.400 --> 01:07:03.000
over eighty.

1306
01:07:03.159 --> 01:07:05.079
Yeah, they're just starting to get interested in it.

1307
01:07:05.239 --> 01:07:08.079
Was then they I mean, they don't know anything about it,

1308
01:07:08.079 --> 01:07:09.480
so they come to us and ask us and stuff.

1309
01:07:09.480 --> 01:07:11.719
They like, there's somewhere like, yeah, just start buying it

1310
01:07:11.760 --> 01:07:13.440
for me, just I want to buy a lot and

1311
01:07:13.519 --> 01:07:15.440
you gotta write them back a little bit.

1312
01:07:16.079 --> 01:07:16.239
Yeah.

1313
01:07:16.280 --> 01:07:17.840
I think it's like Todd's Savans Vautle.

1314
01:07:17.840 --> 01:07:19.920
I guess anything that doubles in ninety days is going

1315
01:07:20.000 --> 01:07:22.639
to attract some interest, right, Yeah, I gotta get on that.

1316
01:07:22.639 --> 01:07:24.880
Fo fomo if you're missing out right, so you have

1317
01:07:24.960 --> 01:07:30.280
to be careful. Yeah, what uh the the uh well.

1318
01:07:30.159 --> 01:07:32.840
Wait, we talk about the opposite of digital gold is

1319
01:07:32.880 --> 01:07:35.440
regular gold. Gold was down fifteen bucks on the week,

1320
01:07:35.519 --> 01:07:37.840
had a vault a week actually also week it was

1321
01:07:38.039 --> 01:07:40.559
very it was should should have been up, yeah, it

1322
01:07:40.559 --> 01:07:42.599
should have been up, but all of a sudden really

1323
01:07:42.920 --> 01:07:45.079
sold off in the last couple of days of the week,

1324
01:07:45.360 --> 01:07:47.280
and uh, finished lower on the week, but so you know,

1325
01:07:47.400 --> 01:07:50.440
twenty six forty seven up quite a bit. It's up

1326
01:07:50.599 --> 01:07:52.960
just as much as the S and P you're to date.

1327
01:07:53.159 --> 01:07:56.599
So yeah, I was surprised at that the shell off

1328
01:07:56.599 --> 01:07:59.320
on Thursday and Friday. I think Thursday was down about

1329
01:07:59.320 --> 01:08:02.679
fifty bucks. I was down another what twenty five thirty bucks.

1330
01:08:02.960 --> 01:08:04.559
I don't know where it's going to go, and I

1331
01:08:04.719 --> 01:08:08.679
don't know why it's going there. And Video, the world's

1332
01:08:08.719 --> 01:08:11.519
most valuable company, probably one of the most popular stocks

1333
01:08:11.519 --> 01:08:16.159
in the world, lower on Monday after Chining a regulatory

1334
01:08:16.199 --> 01:08:19.399
body launched an investigation into the chip maker, which is yeah,

1335
01:08:19.479 --> 01:08:24.279
it's kind of The State Administration for Market Regulation was

1336
01:08:24.319 --> 01:08:28.239
looking at potential anti monopoly law violations, according to the

1337
01:08:28.279 --> 01:08:32.439
Chinese government. Now the China accounts for thirteen percent of

1338
01:08:32.640 --> 01:08:36.439
Video's business, okay, but it is that forty five times

1339
01:08:36.479 --> 01:08:40.560
earning just twelve percent off of this high by seller.

1340
01:08:40.600 --> 01:08:45.199
Hold yeah, hold for now, I'm sitting on my hands

1341
01:08:45.199 --> 01:08:45.720
on that one.

1342
01:08:45.840 --> 01:08:48.640
Yeah, it could see a pullback, like even more so,

1343
01:08:49.039 --> 01:08:50.720
I think i'd I mean, it was seventy one dollars

1344
01:08:50.760 --> 01:08:51.560
in April.

1345
01:08:52.319 --> 01:08:54.840
Promise, you know, with ten days left in the year.

1346
01:08:55.159 --> 01:08:56.560
Or fifteen days left in the year. You don't want

1347
01:08:56.560 --> 01:08:58.279
to sell it now pay tax on it? Right if

1348
01:08:58.319 --> 01:09:00.279
I can, If I can just hold out for another

1349
01:09:00.359 --> 01:09:01.399
two weeks, well.

1350
01:09:01.279 --> 01:09:02.880
It's really you hold it. I mean because it did

1351
01:09:02.920 --> 01:09:03.960
this in August too.

1352
01:09:04.199 --> 01:09:06.920
You hold it was out roughly one twenty five point

1353
01:09:06.920 --> 01:09:08.720
thirty and then it dropped all way under a hundred again.

1354
01:09:08.960 --> 01:09:10.680
So you hold it and just if you want to

1355
01:09:10.680 --> 01:09:12.199
buy more, you buy more at that point. But it's

1356
01:09:12.239 --> 01:09:14.760
not one to jump in right now just because of

1357
01:09:14.760 --> 01:09:15.680
a twelve percent pullback.

1358
01:09:15.800 --> 01:09:18.199
I'm just wondering to come January second, what's going to

1359
01:09:18.239 --> 01:09:20.880
happen with bitcoin. There's a lot of people that have

1360
01:09:21.199 --> 01:09:23.479
made fifty percent on their money over the last ninety days,

1361
01:09:23.520 --> 01:09:26.000
and on January second, you can pay tax in twenty

1362
01:09:26.079 --> 01:09:29.560
twenty six. I don't know. I think January second, third,

1363
01:09:29.560 --> 01:09:32.279
it could be ugly for bitcoin. I may be wrong,

1364
01:09:32.399 --> 01:09:33.880
totally wrong. I've been wrong before.

1365
01:09:33.960 --> 01:09:36.279
But what about when people start all the retail starts

1366
01:09:36.279 --> 01:09:38.600
to getting their tax returns and they just pound that.

1367
01:09:39.600 --> 01:09:42.800
So actually, Apple three point seventy five trillion now more

1368
01:09:43.119 --> 01:09:44.199
more valuable than the video.

1369
01:09:44.560 --> 01:09:46.399
Yes, the Apple finally passed the pass them again.

1370
01:09:46.439 --> 01:09:47.720
Apple had a new all time high.

1371
01:09:48.000 --> 01:09:50.199
I mean, the funny what's happened with Apple? I mean

1372
01:09:50.319 --> 01:09:53.840
just quietly, nobody's talking about Apple. It's just kind of hanging.

1373
01:09:53.600 --> 01:09:56.159
Out forty times pe on a trailing basis, so.

1374
01:09:56.680 --> 01:09:58.800
You can one higher and higher and higher.

1375
01:09:58.720 --> 01:10:02.479
Almost two fifty now four billion market gap. It would

1376
01:10:02.479 --> 01:10:04.359
be the obviously first company ever hit four billion.

1377
01:10:04.520 --> 01:10:09.319
Did it hit a trillion? It was ago, right, it

1378
01:10:09.399 --> 01:10:10.640
wasn't even that long ago. I don't even think it

1379
01:10:10.680 --> 01:10:11.439
was five years ago.

1380
01:10:11.560 --> 01:10:13.039
No, it wasn't that long ago.

1381
01:10:13.199 --> 01:10:15.560
Crazy how much that's exploded now. How many companies are

1382
01:10:15.560 --> 01:10:16.520
over a trillion.

1383
01:10:16.199 --> 01:10:16.920
In market cap too?

1384
01:10:17.279 --> 01:10:18.640
And I think it was such a big deal when

1385
01:10:18.680 --> 01:10:21.119
Apple did it, and then I think it was Amazon's

1386
01:10:21.119 --> 01:10:23.119
the next one of Microsoft, one of those two. And

1387
01:10:23.159 --> 01:10:26.000
then now you got a handful and a part of

1388
01:10:26.000 --> 01:10:27.960
the dot com hit it over today or on Friday.

1389
01:10:28.079 --> 01:10:29.800
Yeah, but a part of that is just the passive

1390
01:10:29.840 --> 01:10:33.319
ETF flows because ets become so popular, and also mutual

1391
01:10:33.359 --> 01:10:36.680
funds in in big four to one k's. I mean,

1392
01:10:36.720 --> 01:10:39.600
we're coming up on January February where the most amount

1393
01:10:39.600 --> 01:10:42.000
of retirement contributions are going to be seen. All those

1394
01:10:42.039 --> 01:10:44.920
inflows go into these funds, and these funds generally go

1395
01:10:45.039 --> 01:10:49.840
to market cap weighted into ces or ets, it's not

1396
01:10:49.880 --> 01:10:52.319
equ weighted into cease. So then all this money it

1397
01:10:52.359 --> 01:10:55.760
gets flowed into these big companies which just inflate their

1398
01:10:55.800 --> 01:10:58.640
pe even more. And so it's gonna a lot of

1399
01:10:58.640 --> 01:11:00.439
pressure is gonna be put on these tops seven next

1400
01:11:00.479 --> 01:11:02.600
year and Ernie's reports to really show that they deserve

1401
01:11:02.840 --> 01:11:04.039
their current valuations.

1402
01:11:04.319 --> 01:11:06.960
And January is the month that sees the largest inflow

1403
01:11:07.039 --> 01:11:09.600
of money into retirement accounts because no matter how much

1404
01:11:09.640 --> 01:11:11.399
money you make, you're gonna be funding your four one

1405
01:11:11.479 --> 01:11:12.119
k in January.

1406
01:11:12.199 --> 01:11:13.680
You can at least max I do the whole.

1407
01:11:13.520 --> 01:11:15.560
Year in one month if you're making a lot of money,

1408
01:11:15.920 --> 01:11:18.039
but you are going to make a contribution to your

1409
01:11:18.079 --> 01:11:22.199
four one K in January. And so is seldom do

1410
01:11:22.239 --> 01:11:24.399
we see January down now do you know? Tell you

1411
01:11:24.439 --> 01:11:26.760
that just because the mutual fund companies are getting the

1412
01:11:26.760 --> 01:11:28.520
money doesn't mean they have to put it to work.

1413
01:11:29.279 --> 01:11:32.479
And so there is that, but generally speaking, you would

1414
01:11:32.520 --> 01:11:35.159
expect January to be a positive month for the market.

1415
01:11:35.439 --> 01:11:37.399
Or passive ETFs. They definitely put it to work.

1416
01:11:37.439 --> 01:11:39.880
Right, we're coming up on a break, we'll be back

1417
01:11:39.960 --> 01:11:42.359
with more than Money Matter Show right after this break.

1418
01:11:42.560 --> 01:11:45.960
Thanks again for joining us on this beautiful Sunday morning.

1419
01:11:46.720 --> 01:11:48.399
Welcome back to the Money Matter Show. My name is

1420
01:11:48.399 --> 01:11:51.079
Sebastian Boards. Sing him here with David Sherwood, Dylan Greenberg,

1421
01:11:51.159 --> 01:11:54.760
Dean Greenberg, Todd Glick. He took off a little bit early.

1422
01:11:55.399 --> 01:11:56.760
Yeah, we have people coming and going.

1423
01:11:56.880 --> 01:11:58.600
Man, got a lot of people. This is a full

1424
01:11:58.600 --> 01:12:00.920
house today. We've got people from thirty years ago. Yeah,

1425
01:12:00.920 --> 01:12:01.279
doing this.

1426
01:12:01.399 --> 01:12:03.880
Yeah, he thought all year from Corpus. Christy's here, and

1427
01:12:04.000 --> 01:12:06.880
Dean's here, and and Todd just left cause he's running

1428
01:12:06.920 --> 01:12:09.239
the Tucson Marathon on Sunday, and so it was stilling

1429
01:12:09.239 --> 01:12:12.159
yours run the Tuston Marathon on Sunday, But you're still here.

1430
01:12:12.239 --> 01:12:15.760
So it's about nine thirty right now on Sunday when

1431
01:12:15.760 --> 01:12:20.039
this is aerin. I'm probably you're probably hopefully hopefully pushing

1432
01:12:20.479 --> 01:12:25.359
ten mile ten. Todd's probably about done. Yeah, I'm hopefully

1433
01:12:25.439 --> 01:12:26.760
pushing about halfway.

1434
01:12:26.920 --> 01:12:28.439
Yeah, Todd's right, real serious.

1435
01:12:28.439 --> 01:12:29.479
I tried to get done.

1436
01:12:29.520 --> 01:12:32.960
I saw my Now my newest goal is I saw

1437
01:12:33.800 --> 01:12:35.760
the lines are playing the bills at two twenty five,

1438
01:12:35.960 --> 01:12:36.720
and I want to be done.

1439
01:12:36.760 --> 01:12:38.079
With it by then, so I can go watch the game.

1440
01:12:38.199 --> 01:12:39.680
Did you start seven thirty?

1441
01:12:39.760 --> 01:12:41.479
Oh, that's it? Y, Okay, that's a good goal. I

1442
01:12:41.560 --> 01:12:43.840
like that. I did the only time I ever did

1443
01:12:43.880 --> 01:12:45.720
my My whole plan was I'd run a mile and

1444
01:12:45.720 --> 01:12:47.439
then walk a mile. Run a mile, walk a mile,

1445
01:12:47.760 --> 01:12:50.479
And by the time I got to sixteen seventeen miles,

1446
01:12:50.520 --> 01:12:52.520
I was just dying, just walking. I don't know how

1447
01:12:52.520 --> 01:12:53.359
I did the Grand Canyon.

1448
01:12:53.520 --> 01:12:53.720
I did.

1449
01:12:53.760 --> 01:12:55.920
The Grand Canyon was twenty five miles run the Rim.

1450
01:12:55.960 --> 01:12:56.319
I did that.

1451
01:12:56.760 --> 01:12:59.119
It's a little different mindset, I think, because you're hey,

1452
01:12:59.600 --> 01:13:02.039
I think, and it's I mean, the hardest part for

1453
01:13:02.039 --> 01:13:04.880
the Grand Canyon probably is the last five miles.

1454
01:13:04.640 --> 01:13:06.680
Because yeah, you got to climb out after you've it's

1455
01:13:06.760 --> 01:13:07.720
usually twenty miles.

1456
01:13:07.760 --> 01:13:09.520
Yeah, which usually on the end of the hike you're

1457
01:13:09.520 --> 01:13:10.079
going downhill.

1458
01:13:10.119 --> 01:13:13.479
Yeah's horrible. You have to five miles south twenty miles,

1459
01:13:13.520 --> 01:13:14.720
so it's kind of hard.

1460
01:13:14.920 --> 01:13:17.000
Is your next goal to do? Then there in the Rim.

1461
01:13:17.880 --> 01:13:19.840
I you know, there are people that do that, go

1462
01:13:19.920 --> 01:13:21.920
rim to rim to Rim, and I finished the Rim

1463
01:13:21.960 --> 01:13:25.800
to Rim and I'm sitting at the South the South

1464
01:13:27.119 --> 01:13:29.880
Visitor Center. Yeah, yeah, looking out at the canyon, which

1465
01:13:29.880 --> 01:13:32.159
is very beautiful, and it's getting dark and you can

1466
01:13:32.199 --> 01:13:35.000
see little light lamps of people down there that they're

1467
01:13:35.039 --> 01:13:36.560
doing the rim to rim to rim. Right, it's like

1468
01:13:36.560 --> 01:13:39.680
a little fireflies. And I thought, that's got to be

1469
01:13:39.720 --> 01:13:40.399
the stupidest thing.

1470
01:13:40.439 --> 01:13:43.199
My girlfriend's family loves doing then the rim. They do

1471
01:13:43.239 --> 01:13:46.720
it every year Veterans weekend. So but she has family

1472
01:13:46.800 --> 01:13:49.760
members that do then in the rim. They start well,

1473
01:13:49.880 --> 01:13:51.439
last time they did it, they started at eight pm

1474
01:13:51.479 --> 01:13:53.239
the night before to meet them at the rim in

1475
01:13:53.239 --> 01:13:54.880
the morning to go do it again.

1476
01:13:54.960 --> 01:13:55.600
Oh my gosh.

1477
01:13:55.680 --> 01:13:59.479
Yeah, it was crazy. It's really hard and fifty miles.

1478
01:14:00.039 --> 01:14:02.920
The biggest problem in ic see is you're doing half

1479
01:14:02.960 --> 01:14:05.439
of the hike in the complete darkness? Is the point?

1480
01:14:05.479 --> 01:14:06.880
Well, I mean the craziest thing. So you got that.

1481
01:14:06.960 --> 01:14:11.159
But then her uncle is the one that him and

1482
01:14:11.199 --> 01:14:13.840
his buddy did the whole Grand Canyon seven hundred and

1483
01:14:13.840 --> 01:14:14.479
fifty mile hike.

1484
01:14:15.000 --> 01:14:17.680
It took him a year. Yeah, he has a book

1485
01:14:17.680 --> 01:14:18.560
on it. It's amazing.

1486
01:14:18.840 --> 01:14:23.680
They have Into the Canyons a documentary on streaming services.

1487
01:14:24.000 --> 01:14:26.199
Oh god, yeah, it's crazy, seven hundred and fifty miles

1488
01:14:26.239 --> 01:14:28.560
with the hike, but can't imagine ude I'm trying to do.

1489
01:14:28.520 --> 01:14:29.199
Twenty six right now.

1490
01:14:29.520 --> 01:14:30.600
You just take a year off of that.

1491
01:14:30.800 --> 01:14:32.279
Yeah, I mean he was doing it through like national

1492
01:14:32.279 --> 01:14:35.239
geographic and stuff, so like they sponsored to do every season.

1493
01:14:35.840 --> 01:14:38.079
But getting back to the markets, I mean, coming into

1494
01:14:38.199 --> 01:14:40.640
the end of a good year, a great year, but

1495
01:14:40.920 --> 01:14:43.560
it's still probably got some people on edge in a

1496
01:14:43.640 --> 01:14:45.800
sense because how much higher can it go? We've been

1497
01:14:45.800 --> 01:14:47.840
saying this for four months. We kind of saw it

1498
01:14:47.880 --> 01:14:50.800
back in August with the crash on the first week August,

1499
01:14:50.800 --> 01:14:52.319
but then we learned it wasn't really anything to do

1500
01:14:52.359 --> 01:14:55.880
with our economy, so it recouped that in a week.

1501
01:14:56.119 --> 01:14:57.920
But it's like, all right, so how much longer can

1502
01:14:57.960 --> 01:14:58.119
it do?

1503
01:14:58.159 --> 01:15:00.000
And what we saw with the RSP theleagual way to

1504
01:15:00.119 --> 01:15:02.439
SMP five hundred being down over a percent and a

1505
01:15:02.479 --> 01:15:04.520
half last week and being down ten days in a row,

1506
01:15:04.880 --> 01:15:06.359
but the s and P five hundred being up a

1507
01:15:06.399 --> 01:15:09.279
half a percent for the week and then or up up,

1508
01:15:09.319 --> 01:15:11.279
and then the Nazak sorry Nazak was up almost a

1509
01:15:11.279 --> 01:15:13.520
half a percent for the week, which is tech. You're

1510
01:15:13.560 --> 01:15:16.239
showing that there's just a like a small.

1511
01:15:16.000 --> 01:15:18.439
Group of really narrow rally right now, A.

1512
01:15:18.359 --> 01:15:20.680
Small group of tech companies again like it was last year,

1513
01:15:20.720 --> 01:15:22.600
So how long can this last?

1514
01:15:23.319 --> 01:15:23.640
Again?

1515
01:15:24.239 --> 01:15:26.319
Still that question of how long will this last? And

1516
01:15:26.359 --> 01:15:28.880
if any of this makes you nervous, you're coming to

1517
01:15:28.920 --> 01:15:30.439
the end of the year, we're getting ready for the

1518
01:15:30.479 --> 01:15:32.079
next year, you're getting ready for retirement.

1519
01:15:32.279 --> 01:15:33.079
What we talk about on.

1520
01:15:33.079 --> 01:15:35.319
The show all the time is financial planning, and it

1521
01:15:35.439 --> 01:15:38.079
helps calm the nerves because then you're thinking about the future.

1522
01:15:38.119 --> 01:15:40.560
You're not just going by the wayside, going with the wind,

1523
01:15:41.079 --> 01:15:43.439
kind of just winging it. You actually put yourself into

1524
01:15:43.479 --> 01:15:45.880
a plan and you get yourself going to have those

1525
01:15:45.920 --> 01:15:48.399
thoughts about what happens. If I'm thinking of retiring at

1526
01:15:48.399 --> 01:15:49.840
the end of next year, the end of this year,

1527
01:15:49.920 --> 01:15:53.359
the beginning of this year, retiring in June, I'm retiring

1528
01:15:53.359 --> 01:15:55.600
in three years, any of those thoughts you want to

1529
01:15:55.640 --> 01:15:56.279
get going on it.

1530
01:15:56.319 --> 01:15:57.319
So then if we.

1531
01:15:57.279 --> 01:16:00.439
Do see a crash, which is inevitable, not necessarily a

1532
01:16:00.479 --> 01:16:02.560
fifty percent crash like two thousand and eight, but we're

1533
01:16:02.560 --> 01:16:05.199
gonna see a pullback at some point. It's healthy in

1534
01:16:05.239 --> 01:16:06.960
the markets, but if you don't know what's going on

1535
01:16:07.000 --> 01:16:10.560
in your future with your financial life, it'll make it nervous.

1536
01:16:10.600 --> 01:16:12.800
If we see a ten percent pullback we're talking about

1537
01:16:12.800 --> 01:16:14.159
the other day. If you see it, like the Dow

1538
01:16:14.319 --> 01:16:17.760
is a not our favorite indicator because it's only thirty

1539
01:16:17.800 --> 01:16:21.560
stocks picked by a committee, but it's most popular one

1540
01:16:21.560 --> 01:16:23.279
because it's the biggest number and everything like that. So

1541
01:16:23.279 --> 01:16:26.880
if you're watching CNBC, they always talk about the Dow

1542
01:16:27.159 --> 01:16:28.479
that dropped ten percent.

1543
01:16:28.560 --> 01:16:29.760
It's forty five hundred points.

1544
01:16:30.000 --> 01:16:34.960
Yeah, which in percentage wise, not a huge deal because

1545
01:16:34.960 --> 01:16:36.720
it can come back in ten percent like nothing. But

1546
01:16:36.760 --> 01:16:40.479
if you're seeing, oh, the Dow drop forty five hundred

1547
01:16:40.520 --> 01:16:43.079
points in eight days, that's gonna scary. You're just gonna

1548
01:16:43.079 --> 01:16:44.720
hear forty five hundred points Because a lot of people

1549
01:16:44.720 --> 01:16:47.520
who are getting ready for retirement probably remember two thousand

1550
01:16:47.560 --> 01:16:50.560
and eight, probably remember the dot com bubble where Dow

1551
01:16:50.640 --> 01:16:52.880
drops forty five hundred points, Then it's a big difference.

1552
01:16:53.039 --> 01:16:54.760
I think one of the biggest things about the financial

1553
01:16:54.800 --> 01:16:56.920
plan that really gives people the peace of mind is

1554
01:16:56.920 --> 01:17:00.720
the vis visualization aspect of the tool. Right, if you're

1555
01:17:00.760 --> 01:17:02.640
coming in, you know, you think you're on the brink

1556
01:17:02.640 --> 01:17:04.800
of retirements. You think that maybe you're able to retire,

1557
01:17:04.880 --> 01:17:06.680
maybe not. I'm not sure if my money's going to last.

1558
01:17:06.680 --> 01:17:08.560
We are able to put that on a on a

1559
01:17:08.640 --> 01:17:11.720
diagram for you and really show you visualize yes you

1560
01:17:11.800 --> 01:17:13.640
can or no you can't. Maybe you should work a

1561
01:17:13.680 --> 01:17:15.680
couple more years right and give you that peace of

1562
01:17:15.720 --> 01:17:18.920
mind because you know, like is, if you were walking

1563
01:17:18.960 --> 01:17:20.680
through a home, you know you need to be able

1564
01:17:20.720 --> 01:17:22.880
to visualize each room. You need to visualize it with

1565
01:17:22.960 --> 01:17:25.680
a couch in there. You need being able to visual

1566
01:17:25.760 --> 01:17:27.840
People don't think in the abstract manners what I'm trying

1567
01:17:27.880 --> 01:17:28.840
to get at right.

1568
01:17:28.920 --> 01:17:30.800
More often than not, at the end of the plan,

1569
01:17:30.840 --> 01:17:33.239
when they create it, it's going to work out better

1570
01:17:33.239 --> 01:17:36.239
than they thought. And that's usually what happens because they've

1571
01:17:36.439 --> 01:17:38.079
put the work in and they put the discipline into

1572
01:17:38.199 --> 01:17:42.039
save for retirement. It's just that nervousness of switching from

1573
01:17:42.359 --> 01:17:44.680
the accumulation phase to the distribution phase.

1574
01:17:45.399 --> 01:17:46.920
And the distribution phase is when you.

1575
01:17:46.840 --> 01:17:49.479
Have no more income from your job and you're relying

1576
01:17:49.520 --> 01:17:51.960
on what you saved up for your whole career and

1577
01:17:52.439 --> 01:17:53.600
is that going to be enough? Are you going to

1578
01:17:53.640 --> 01:17:55.800
outlive it? What if social Security gets cut in half?

1579
01:17:55.880 --> 01:17:58.119
What if inflation goes back high and it stays at

1580
01:17:58.119 --> 01:17:59.680
four percent for the rest of my life. Those are

1581
01:17:59.680 --> 01:18:02.800
all scenarios we can look at in the financial plan

1582
01:18:02.840 --> 01:18:05.159
in real time and show you the impact that could

1583
01:18:05.159 --> 01:18:07.479
possibly happen to your plan. Could have a huge impact,

1584
01:18:07.520 --> 01:18:09.680
it could have not a big impact at all because

1585
01:18:09.920 --> 01:18:12.239
you're just set. So if any of these things have

1586
01:18:12.279 --> 01:18:14.279
been bothering, you've been bugging you, if just this is

1587
01:18:14.399 --> 01:18:17.319
just something's unsettling, you give us a call and we'd

1588
01:18:17.319 --> 01:18:18.840
be happy to sit down and create that plan.

1589
01:18:18.880 --> 01:18:20.640
It's free. We just want to help.

1590
01:18:20.680 --> 01:18:22.359
We want to get people to be more comfortable in

1591
01:18:22.399 --> 01:18:24.279
the markets, because we know if you haven't really dealt

1592
01:18:24.279 --> 01:18:26.840
with the markets, wanted to look at the markets, it's scary.

1593
01:18:26.960 --> 01:18:27.800
It makes it nervous.

1594
01:18:28.319 --> 01:18:30.640
We try and sit here and help you learn about

1595
01:18:30.680 --> 01:18:33.399
what your situation is and what your future is so

1596
01:18:33.520 --> 01:18:34.279
you're not nervous.

1597
01:18:34.319 --> 01:18:36.920
If you don't think that you need a holistic financial

1598
01:18:36.920 --> 01:18:38.399
plan right now, you just want to see where your

1599
01:18:38.439 --> 01:18:40.640
portfolio is at. We have a pretty cool risk analyzing

1600
01:18:40.680 --> 01:18:42.760
tool that you could. You send us a copy of

1601
01:18:42.760 --> 01:18:44.960
your statements. I'll just type it into the software and

1602
01:18:45.000 --> 01:18:46.800
put each of the holdings and they'll send it back

1603
01:18:46.800 --> 01:18:48.439
to you. You don't even have to come into the office.

1604
01:18:48.640 --> 01:18:50.119
I think over the last couple of months you guys

1605
01:18:50.119 --> 01:18:52.079
have been doing too. It seems like two or three

1606
01:18:52.119 --> 01:18:54.079
of these financial plans every single day.

1607
01:18:54.159 --> 01:18:54.560
That's sure.

1608
01:18:54.600 --> 01:18:57.239
It's been amazing, and I've noticed over the last couple

1609
01:18:57.239 --> 01:19:00.439
of days it's slowed down and coming into Chris here,

1610
01:19:00.439 --> 01:19:03.399
if you have not done the financial plan, this might

1611
01:19:03.439 --> 01:19:05.720
be a good time because I think there's probably some

1612
01:19:05.800 --> 01:19:09.680
appointments available that would not have been under normal circumstances.

1613
01:19:09.760 --> 01:19:09.920
Yeah.

1614
01:19:10.079 --> 01:19:12.119
Yeah, we're open. The only days we're really closed the

1615
01:19:12.119 --> 01:19:15.119
half day on Christmas. Even Christmas Day, New Year's Day

1616
01:19:15.119 --> 01:19:17.319
you're closed, but that's inside the New year. Other than

1617
01:19:18.239 --> 01:19:20.399
Christmas Eve is an early closing it is, yeah, because

1618
01:19:20.439 --> 01:19:21.399
it's a Tuesday, and.

1619
01:19:21.399 --> 01:19:23.560
New Year's Day is not or New Year's Eve is

1620
01:19:23.600 --> 01:19:25.800
not an early closed. It is not, never has been

1621
01:19:26.600 --> 01:19:28.880
because they want to get people right up to the

1622
01:19:28.880 --> 01:19:31.800
close of business on the last trading day of the year,

1623
01:19:32.079 --> 01:19:34.239
which is fair, Which is fair. Yeah, that makes a

1624
01:19:34.279 --> 01:19:34.840
lot of sense.

1625
01:19:35.640 --> 01:19:38.399
I got one go ahead. We always talk about technologies

1626
01:19:38.439 --> 01:19:39.960
that we've been using here in the office. We've talked

1627
01:19:40.000 --> 01:19:43.560
about doc you sign a little bit Adobe. Adobe took

1628
01:19:43.600 --> 01:19:45.720
a huge hit this week. They dropped about fifteen percent,

1629
01:19:45.800 --> 01:19:47.760
just because they haven't really been able to monetize the

1630
01:19:48.199 --> 01:19:52.239
artificial intelligence aspect of their business model. We use Adobe

1631
01:19:52.319 --> 01:19:54.960
every single day right now. Why because we have been

1632
01:19:55.039 --> 01:19:57.079
updating these PDFs to go through the BD to the

1633
01:19:57.159 --> 01:20:01.319
RAA change. I think that again, I think most businesses

1634
01:20:01.359 --> 01:20:04.600
probably use Adobe Adobe Scan in some form or fashion.

1635
01:20:04.640 --> 01:20:07.039
I think that maybe the fifteen percent drop could be

1636
01:20:07.039 --> 01:20:07.920
a little overdone.

1637
01:20:08.279 --> 01:20:10.399
But what Dave and I were talking about on Friday

1638
01:20:10.520 --> 01:20:12.039
was you see a big drop like that in one day.

1639
01:20:12.079 --> 01:20:14.439
It's not necessarily by an opportunity right now, don't catch

1640
01:20:14.439 --> 01:20:17.159
the knife, let it settle. It can easily see a

1641
01:20:17.199 --> 01:20:18.680
drop again and then it settles out.

1642
01:20:18.840 --> 01:20:20.920
I just want to make a public service announcement.

1643
01:20:21.359 --> 01:20:22.920
Heath is back. What's back?

1644
01:20:24.079 --> 01:20:27.840
Don't forget to take your RMD. If you need to

1645
01:20:27.880 --> 01:20:31.800
get your RMD, make sure you call whoever helps you

1646
01:20:31.880 --> 01:20:34.520
with that and get it done before you're end.

1647
01:20:34.600 --> 01:20:37.159
That is a required minimum distribution that you have to

1648
01:20:37.199 --> 01:20:40.359
take if you're turning seventy three, If you're already taken

1649
01:20:40.359 --> 01:20:41.479
and you have to take it by the end of

1650
01:20:41.479 --> 01:20:42.000
the year, and.

1651
01:20:41.920 --> 01:20:43.600
We're about what ninety seven percent.

1652
01:20:44.079 --> 01:20:46.720
Financial financial group, you don't need to think about it.

1653
01:20:47.079 --> 01:20:49.439
We will not let the year go by without you

1654
01:20:49.560 --> 01:20:52.359
being called and trying to figure out what we have.

1655
01:20:52.479 --> 01:20:53.760
We will have contact.

1656
01:20:54.039 --> 01:20:55.880
If you don't take it by the end of the year,

1657
01:20:56.000 --> 01:20:56.880
you are penalized.

1658
01:20:57.000 --> 01:20:58.680
I think there's we can You think we've got four

1659
01:20:58.760 --> 01:21:01.119
or five procrastinators left, and I think that's about it

1660
01:21:01.119 --> 01:21:03.640
about it, And they've all been talked to. They all

1661
01:21:03.680 --> 01:21:05.039
know they have to do some by the end of

1662
01:21:05.079 --> 01:21:08.680
the year. But yeah, that's that's a very good information

1663
01:21:08.840 --> 01:21:11.319
from he. Hey, did you see we've got our first

1664
01:21:11.399 --> 01:21:15.000
uh uh is a disagreement, our first disagreement in the

1665
01:21:15.359 --> 01:21:19.640
new Trump administration. We know that Kennedy thinks healthy eating

1666
01:21:20.079 --> 01:21:23.079
should replace the g l P one drugs. Right. We

1667
01:21:23.119 --> 01:21:25.199
know that he thinks you just put down the fork,

1668
01:21:25.640 --> 01:21:28.840
and now we understand that that is not always a

1669
01:21:28.880 --> 01:21:32.239
possibility for certain people. I always thought that too, but

1670
01:21:32.680 --> 01:21:36.600
talking to nutrition or something, not everybody can put down

1671
01:21:36.640 --> 01:21:38.479
the fork. And not because they can't put down the fork,

1672
01:21:38.520 --> 01:21:39.319
but it doesn't matter.

1673
01:21:39.880 --> 01:21:40.439
They're there.

1674
01:21:41.640 --> 01:21:46.960
The body is such that it can't be the GLP one. Kennedy,

1675
01:21:47.600 --> 01:21:51.720
Robert Kennedy Junior, right, thinks that healthy eating should replace

1676
01:21:51.800 --> 01:21:55.960
GLP one, but last week, Elon Musk says that one

1677
01:21:55.960 --> 01:21:59.159
of the most important things that new administration can do

1678
01:21:59.840 --> 01:22:03.319
is to make GLP one drugs available at low prices.

1679
01:22:02.920 --> 01:22:05.720
Lower cost. And I think that, you know, I don't

1680
01:22:05.720 --> 01:22:07.680
think that Elon was talking about it in the societal

1681
01:22:07.720 --> 01:22:09.800
aspect of okay, like put the fork down, it's good

1682
01:22:09.800 --> 01:22:11.760
for society, get out and go exercise. I don't think

1683
01:22:11.760 --> 01:22:13.319
he was talking about it like that. I think he

1684
01:22:13.399 --> 01:22:16.840
was saying that it is a great It is one

1685
01:22:16.880 --> 01:22:19.600
of the best things that has been made to lengthen

1686
01:22:19.640 --> 01:22:22.159
the life span of humans, the human race, which I

1687
01:22:22.199 --> 01:22:25.000
think is a great point. You know, if you're three

1688
01:22:25.039 --> 01:22:27.279
hundred fifty pounds, you lose fifty you're probably gonna lose

1689
01:22:27.359 --> 01:22:28.880
or you're probably gonna gain a couple of years of

1690
01:22:28.880 --> 01:22:29.840
life off of that.

1691
01:22:30.479 --> 01:22:32.680
What didn't you say, Well, yeah, and you keep in

1692
01:22:32.720 --> 01:22:36.199
mind we all have roughly the same size hard and

1693
01:22:36.279 --> 01:22:39.319
if you're six ' eight, your heart's gonna work a

1694
01:22:39.319 --> 01:22:42.279
lot harder than me at five eight. And if you're

1695
01:22:42.920 --> 01:22:45.399
three hundred and fifty pounds, your heart's gonna work a

1696
01:22:45.399 --> 01:22:47.479
lot harder than me at one hundred and fifty pounds.

1697
01:22:47.720 --> 01:22:51.479
So yeah, the smaller you are It's like dogs, right,

1698
01:22:51.760 --> 01:22:55.600
Why did chihuahuas outlive Great Danes? Because they both have

1699
01:22:55.720 --> 01:22:58.680
roughly the same size heart, and it's and it's pumping

1700
01:22:58.720 --> 01:23:00.880
a lot harder in the great day than it is

1701
01:23:00.920 --> 01:23:02.640
in the shihuahua.

1702
01:23:03.319 --> 01:23:03.520
You know.

1703
01:23:03.640 --> 01:23:06.680
But that's kind of interesting that Kennedy has been pretty

1704
01:23:06.880 --> 01:23:09.479
pretty open about opposing the g l P one drugs,

1705
01:23:09.479 --> 01:23:11.359
and Elon's out there saying, man, we got to get

1706
01:23:11.359 --> 01:23:13.199
these cheap and get them to everybody.

1707
01:23:13.239 --> 01:23:15.000
And I'm pretty sure, I'm pretty sure that some of

1708
01:23:15.000 --> 01:23:17.560
the GLP one drugs rallied off of that, which is funny.

1709
01:23:17.680 --> 01:23:18.479
Elon Cound just.

1710
01:23:19.439 --> 01:23:21.680
Clearly has really been drifting south though. I think they're

1711
01:23:21.720 --> 01:23:26.720
really scared of competition from the uh, the compound pharmacies,

1712
01:23:27.119 --> 01:23:30.039
and and I think they're really bothered by Kennedy and

1713
01:23:30.279 --> 01:23:34.439
and scared investors as I'm talking about of what he

1714
01:23:34.560 --> 01:23:37.239
might do to these companies. I mean that that stock

1715
01:23:37.439 --> 01:23:43.279
is five times the price of any other pharmaceutical because

1716
01:23:43.319 --> 01:23:47.640
of this GLP one. Yeah, yeah, it's expensive.

1717
01:23:47.680 --> 01:23:48.960
They noble, it's an expensive stock.

1718
01:23:49.000 --> 01:23:51.800
Yeah, Lily's a very expensive stock. Costco is very expensive stock.

1719
01:23:51.880 --> 01:23:55.680
They reported great earnings, great sales stock dipped a little bit,

1720
01:23:55.680 --> 01:23:59.000
which it typically does on earnings on Friday, but Costco

1721
01:23:59.119 --> 01:24:01.159
just keeps knocking the over off the ball. We've got

1722
01:24:01.199 --> 01:24:03.920
one more segment. We'll be back right after this break

1723
01:24:04.119 --> 01:24:14.800
with more of the Money Metter Show. Welcome back to

1724
01:24:14.840 --> 01:24:16.960
the Money Matter Show. This is the last segment. We

1725
01:24:17.039 --> 01:24:19.800
appreciate you taking time to join us. I've got had

1726
01:24:19.800 --> 01:24:24.119
an experience last week that I took my wife's gas

1727
01:24:24.159 --> 01:24:26.000
powered suv in for service.

1728
01:24:26.039 --> 01:24:27.039
Let's stop bragging.

1729
01:24:27.359 --> 01:24:28.760
No, no, no, not bragging.

1730
01:24:28.800 --> 01:24:29.279
This is fact.

1731
01:24:29.319 --> 01:24:33.479
This is a public service announcement. Okay, they're you know,

1732
01:24:33.680 --> 01:24:35.920
when you take your car in for service, your gas

1733
01:24:35.960 --> 01:24:40.920
powered ice, your internal combustion and caring for service, you

1734
01:24:40.960 --> 01:24:43.199
know they're going to have it for most of the day,

1735
01:24:43.239 --> 01:24:45.680
if not a couple of days. You know you're gonna

1736
01:24:45.760 --> 01:24:48.640
have to get an uber, or maybe you get a

1737
01:24:48.680 --> 01:24:50.720
loaner car, or maybe you get a friend to come

1738
01:24:50.720 --> 01:24:53.479
pick you up. My wife's car is five years old.

1739
01:24:53.479 --> 01:24:55.960
They discovered a leak in the water pump and a

1740
01:24:56.039 --> 01:24:58.039
break in one of the water lines, and a couple

1741
01:24:58.039 --> 01:25:01.399
of the belts were worn. All right, So two days

1742
01:25:01.439 --> 01:25:04.199
and twenty one hundred dollars later, I got the car back.

1743
01:25:05.760 --> 01:25:08.079
It struck me as I was driving the car home

1744
01:25:08.199 --> 01:25:11.039
that none of the things that needed fixing on her

1745
01:25:11.199 --> 01:25:15.560
SUV even exist on my Tesla.

1746
01:25:15.800 --> 01:25:16.319
None of them.

1747
01:25:16.359 --> 01:25:18.199
How many moving pieces in your Tesla.

1748
01:25:18.159 --> 01:25:22.079
Nineteen versus over two hundred and an internal combustion A

1749
01:25:22.079 --> 01:25:24.159
needy car. Once a year they come to my office

1750
01:25:24.399 --> 01:25:27.279
and charge me sixty five dollars to rotate my tires.

1751
01:25:27.479 --> 01:25:30.279
That's it, that is it. I have to get her

1752
01:25:30.279 --> 01:25:31.319
an electric car.

1753
01:25:31.760 --> 01:25:31.920
Now.

1754
01:25:31.960 --> 01:25:33.800
The problem with that is if I do, we're not

1755
01:25:33.800 --> 01:25:34.720
going to be able to leave town.

1756
01:25:34.840 --> 01:25:39.399
But other than that, right, so does your at home charger?

1757
01:25:39.399 --> 01:25:41.359
Would it be capable of charging two cars?

1758
01:25:41.439 --> 01:25:41.560
Yes?

1759
01:25:41.640 --> 01:25:42.840
Oh absolutely at the same time.

1760
01:25:43.319 --> 01:25:45.039
Oh not the same time the same time. That probably

1761
01:25:45.079 --> 01:25:46.840
is an adapter you can get, But no, and it

1762
01:25:46.880 --> 01:25:49.760
doesn't take that long. For instance, if you if you

1763
01:25:49.800 --> 01:25:52.079
had two cars, you'd plug in one any charges over.

1764
01:25:52.760 --> 01:25:54.760
I charge on Friday night when I get home because

1765
01:25:54.760 --> 01:25:56.680
I use the car a lot on the weekend. Right

1766
01:25:56.800 --> 01:25:59.880
that gives me enough battery for the whole weekend. Sunday night,

1767
01:26:00.159 --> 01:26:02.560
I charged overnight on Sunday night. That gives me enough

1768
01:26:02.560 --> 01:26:05.199
for the entire week. Right now, my car sits out

1769
01:26:05.239 --> 01:26:08.199
there and on a Friday, and it's still got forty

1770
01:26:08.199 --> 01:26:08.840
percent battery.

1771
01:26:08.920 --> 01:26:11.479
So it's a So the only maintenance that you need

1772
01:26:11.479 --> 01:26:13.319
to do in your tesla is sixty dollars tire rotation.

1773
01:26:13.479 --> 01:26:15.800
Rotates the tires. That's it. I remember what I bought.

1774
01:26:15.920 --> 01:26:18.359
I had bent something. It was ten grand to fix

1775
01:26:18.399 --> 01:26:19.640
if you wanted to fix it, right.

1776
01:26:19.560 --> 01:26:22.840
Yeah, what about that your bumper? Yeah, well no, that's

1777
01:26:22.880 --> 01:26:23.560
if you're wreck it.

1778
01:26:23.600 --> 01:26:27.239
I mean, you can't be wrecking the car. I can't.

1779
01:26:27.840 --> 01:26:31.000
Todd sent me a thing on on Friday that he

1780
01:26:31.079 --> 01:26:34.680
had tripped over where this guy had a Tesla for

1781
01:26:34.720 --> 01:26:36.880
five years. He drove twenty thousand miles a year, which

1782
01:26:36.920 --> 01:26:39.560
is a lot more than most people. But so he

1783
01:26:39.640 --> 01:26:42.039
drove one hundred thousand miles in five years, and he

1784
01:26:42.239 --> 01:26:46.439
estimated that he saved twelve thousand dollars on gas. Wow,

1785
01:26:46.560 --> 01:26:49.520
I would add to that the cost you know, it

1786
01:26:49.680 --> 01:26:52.439
was the cost of gas less what he's paying for

1787
01:26:52.439 --> 01:26:55.640
electricity in the house to charge it overnight. Right, he

1788
01:26:55.720 --> 01:26:59.039
saved He saved twelve thousand dollars in five years. And

1789
01:26:59.039 --> 01:27:01.239
and I was that's probably with correct Now I'm hoping

1790
01:27:01.279 --> 01:27:05.279
he figured maintenance in there, because one of the big

1791
01:27:05.439 --> 01:27:08.039
pluses was an electric car that nobody ever talks about

1792
01:27:08.319 --> 01:27:11.119
is maintenance. There just isn't any. When I picked the

1793
01:27:11.159 --> 01:27:13.239
car up, the guy says to me, he said, don't

1794
01:27:13.239 --> 01:27:15.600
forget maintenance, And I said, what are you talking about?

1795
01:27:15.760 --> 01:27:18.359
And he opens the front trunk, which they call the

1796
01:27:18.399 --> 01:27:21.439
front because there's no engine. He opened the front trunk

1797
01:27:21.439 --> 01:27:24.159
and he pointed at the place where you put in

1798
01:27:24.199 --> 01:27:27.279
the windshow washer fluid. He goes, you have to keep

1799
01:27:27.279 --> 01:27:31.479
that full, and he laughed, that's pretty much it. It

1800
01:27:31.560 --> 01:27:32.079
is amazing.

1801
01:27:32.119 --> 01:27:34.840
What about like your brakes, You're gonna have to replace those?

1802
01:27:34.960 --> 01:27:37.600
You don't use them. You don't use them. It's come

1803
01:27:37.680 --> 01:27:40.960
and braking on an electric car, when you let up

1804
01:27:41.000 --> 01:27:44.000
on the gas, it automatically breaks, so you don't.

1805
01:27:43.920 --> 01:27:45.119
Use theoretically would never have to.

1806
01:27:45.359 --> 01:27:45.640
You would.

1807
01:27:45.920 --> 01:27:49.479
Honestly, you replace the brakes maybe every six, seven, eight years.

1808
01:27:49.520 --> 01:27:52.159
I don't know. It wouldn't be much because you're not

1809
01:27:52.239 --> 01:27:54.800
using them if you drive the car properly. Now I'm

1810
01:27:54.840 --> 01:27:57.560
behind Tesla's. Whenever I see a brake light come on

1811
01:27:57.680 --> 01:28:00.479
with a Tesla, it irritates me because it's somebody don't

1812
01:28:00.479 --> 01:28:03.319
know what they're doing right, because you don't have to

1813
01:28:03.560 --> 01:28:06.199
use the brakes on in Tesla unless the course. Obviously

1814
01:28:06.239 --> 01:28:07.760
you once in a while something will happen you have

1815
01:28:07.760 --> 01:28:10.399
to stop suddenly right then you use the brakes. But

1816
01:28:10.479 --> 01:28:13.439
I literally drive from my house to my to the

1817
01:28:13.479 --> 01:28:16.159
office and back and don't ever use the brakes ever

1818
01:28:16.439 --> 01:28:21.359
at all. And that's pretty typical, pretty cool. And I

1819
01:28:21.359 --> 01:28:23.960
would say that if you if you don't have an

1820
01:28:23.960 --> 01:28:26.760
electric cars, probably because you've never driven one, because if

1821
01:28:26.760 --> 01:28:29.479
you're driven one, you'd have it. But range continues to

1822
01:28:29.479 --> 01:28:31.239
be a problem. Like I said, you wouldn't be able

1823
01:28:31.239 --> 01:28:34.159
to leave the leave town. I can get to cast

1824
01:28:34.239 --> 01:28:37.760
Grant and back. I can get to Phoenix, get about

1825
01:28:37.760 --> 01:28:40.399
halfway back, but you know I have to charge somewhere

1826
01:28:40.399 --> 01:28:43.319
along the line there, So that is the inconvenience. I

1827
01:28:43.359 --> 01:28:45.960
can get to Orange County, uh in this kind of weather,

1828
01:28:46.399 --> 01:28:48.479
in the in the hot weather, in the summertime you

1829
01:28:48.600 --> 01:28:50.079
get you're lucky if you can get one hundred and

1830
01:28:50.119 --> 01:28:53.159
sixty miles on a charge this time of the year,

1831
01:28:53.159 --> 01:28:55.920
I' getting about two fifty. I can make it almost

1832
01:28:55.920 --> 01:28:57.079
to Yuma on a charge.

1833
01:28:57.840 --> 01:28:58.960
And then how long do you have to charge it

1834
01:28:58.960 --> 01:28:59.840
for if it's zero.

1835
01:29:00.000 --> 01:29:02.399
Twenty minutes gonna take Yeah, you're only going to take

1836
01:29:02.479 --> 01:29:05.399
up eighty percent. You leave the house with one hundred

1837
01:29:05.399 --> 01:29:08.520
percent charge, right, but when you're on the road, you

1838
01:29:08.560 --> 01:29:10.960
only charged eighty percent. You're charged enough to get to

1839
01:29:11.000 --> 01:29:13.760
the next charging station. I had a client that took

1840
01:29:13.800 --> 01:29:18.720
his Tesla from Tucson to Miami and back, and I said,

1841
01:29:19.760 --> 01:29:22.039
wasn't the charging the problem? He said no, because I

1842
01:29:22.119 --> 01:29:25.119
learned early on that the range of my car was

1843
01:29:25.239 --> 01:29:29.079
greater than the range of my bladder. So there you go.

1844
01:29:29.840 --> 01:29:32.199
You know, a couple of I don't know if it

1845
01:29:32.239 --> 01:29:33.680
was last week or two weeks ago, but we were

1846
01:29:33.680 --> 01:29:36.279
talking about grocery stores and we're talking about Walmart. We

1847
01:29:36.279 --> 01:29:39.039
were talking about Target. A little bit of a housekeeping

1848
01:29:39.039 --> 01:29:42.960
that I found out about targets. Remember, we were talking

1849
01:29:43.479 --> 01:29:45.479
if they have grocery stores, if they have if they

1850
01:29:45.520 --> 01:29:50.600
actually sell produce, basically five percent of their stores do

1851
01:29:50.680 --> 01:29:56.079
not five of the right, every every other store.

1852
01:29:55.840 --> 01:29:58.880
Has Targets have grocery.

1853
01:29:59.000 --> 01:30:00.279
Isn't that crazy?

1854
01:30:00.279 --> 01:30:01.880
I would have said the reverse.

1855
01:30:01.920 --> 01:30:05.159
I found it hard to believe, but I still stand

1856
01:30:05.159 --> 01:30:07.319
by my arguments. That's if I'm running in for you know,

1857
01:30:07.399 --> 01:30:09.880
a glass or not a glass jug of milk or

1858
01:30:10.680 --> 01:30:13.079
laundry detergent or something just really quick. I'm probably not

1859
01:30:13.079 --> 01:30:15.159
gonna go to Target. I'm probably gonna go to Walmart.

1860
01:30:15.159 --> 01:30:17.840
I'm probably going to go to Fries or I'm.

1861
01:30:17.720 --> 01:30:19.760
Going to go to the store that's the least busy,

1862
01:30:19.800 --> 01:30:24.640
and that would be Bash's Bashes. Nothing against Bashes. It's

1863
01:30:24.680 --> 01:30:27.680
a lovely store, but they don't do ten percent of

1864
01:30:27.720 --> 01:30:30.840
the business of Walmart or Fries or some of those

1865
01:30:30.880 --> 01:30:33.439
other ones that I guess probably pricing.

1866
01:30:33.199 --> 01:30:36.079
That stocks bounced back a little bit, probably which one Target.

1867
01:30:36.520 --> 01:30:39.119
Speaking of bounce back, how about Warner Brothers Discovery. You

1868
01:30:39.159 --> 01:30:41.720
know that company was spun off from AT and T

1869
01:30:41.880 --> 01:30:45.039
back in twenty two and it has been a dog.

1870
01:30:45.199 --> 01:30:46.399
It's a trading out in twelve bucks.

1871
01:30:46.399 --> 01:30:51.279
Now the dog is waking up rally twenty seven percent

1872
01:30:51.319 --> 01:30:54.520
in the last ninety days, up another nine percent on Thursday.

1873
01:30:55.000 --> 01:30:57.680
On News they're gonna split their cable TV operation from

1874
01:30:57.760 --> 01:31:01.520
the streaming and studio operations. So that fact is really again,

1875
01:31:01.760 --> 01:31:04.880
I've watched it lay dead since it's been.

1876
01:31:04.840 --> 01:31:07.960
Horrible, been horrible, yeah, horrible. Since the minute broke off,

1877
01:31:07.960 --> 01:31:08.880
it's been down, but.

1878
01:31:08.920 --> 01:31:12.359
It's just been steadily moving higher and You've got the

1879
01:31:12.359 --> 01:31:16.359
Broadcom report on Friday, on Thursday night on Friday, what

1880
01:31:16.439 --> 01:31:17.119
do you think about that?

1881
01:31:17.720 --> 01:31:21.039
I mean, it's talking about AI future. That's really the

1882
01:31:21.039 --> 01:31:23.079
main thing that it did, and that's why it jumped

1883
01:31:23.119 --> 01:31:23.800
twenty four percent.

1884
01:31:24.760 --> 01:31:27.640
AI revenue is more than tripled over the last twelve months.

1885
01:31:27.720 --> 01:31:29.960
Yeah, and his guidance is still going high with AI.

1886
01:31:30.000 --> 01:31:32.000
And when you hear good news about AI in a company,

1887
01:31:32.319 --> 01:31:34.079
it's just been taking off lately.

1888
01:31:34.319 --> 01:31:36.359
So what about them is a competitor? Well, either that

1889
01:31:36.520 --> 01:31:38.039
or Trump Junior going on the board.

1890
01:31:38.119 --> 01:31:40.039
Right, those two things, those two things.

1891
01:31:40.079 --> 01:31:42.039
If you want your tactical higher, either have to have

1892
01:31:42.079 --> 01:31:43.800
AI or get Trump Junior on the board.

1893
01:31:43.800 --> 01:31:45.479
Or or be associated with you.

1894
01:31:45.920 --> 01:31:46.199
Right.

1895
01:31:47.319 --> 01:31:49.840
Another company that did has been doing horrible but actually

1896
01:31:49.880 --> 01:31:52.479
got a little bit of a pop, your beloved Walgreens.

1897
01:31:52.560 --> 01:31:53.359
What happened there?

1898
01:31:53.800 --> 01:31:57.119
You know, that's funny because Walgreens was interesting and Kramer

1899
01:31:57.159 --> 01:31:58.840
had a comment about that, and I think Kramer is

1900
01:31:58.880 --> 01:31:59.319
spot on.

1901
01:31:59.680 --> 01:32:00.840
Who's buying that company?

1902
01:32:01.319 --> 01:32:03.960
Yeah, sound sixty three percent in the last it's sound

1903
01:32:04.039 --> 01:32:08.000
sixty three percent this year, but it jumped twenty percent

1904
01:32:08.079 --> 01:32:11.720
on Tuesday. Private Equity talking about taking a private right,

1905
01:32:12.319 --> 01:32:14.880
which makes sense, Kramer says, there is, no, it doesn't

1906
01:32:14.920 --> 01:32:15.359
make sense.

1907
01:32:15.880 --> 01:32:17.039
Huh, No, it doesn't mix.

1908
01:32:17.239 --> 01:32:19.880
No, it makes Kramer said, their debt is so great

1909
01:32:20.239 --> 01:32:22.399
that it absolutely doesn't work for private equity.

1910
01:32:22.439 --> 01:32:23.720
It's never gonna happen, right.

1911
01:32:23.920 --> 01:32:26.720
No, I don't know that there. I don't honestly know

1912
01:32:26.760 --> 01:32:27.840
where the future of Walgreen.

1913
01:32:27.880 --> 01:32:29.840
If private equity buys it, they're just probably going to

1914
01:32:29.920 --> 01:32:32.079
strip it and sell it for pieces.

1915
01:32:31.760 --> 01:32:35.520
And another thing. Hershey's another one, down four percent, but Hershey's,

1916
01:32:35.600 --> 01:32:38.079
we will watch that down four percent this year. Soaring

1917
01:32:38.079 --> 01:32:41.159
cocoa prices weigh on the company, but up fifteen percent.

1918
01:32:41.199 --> 01:32:45.439
On Monday, Bloomberg reported that Mandalize now Mandalze owns Cadbury.

1919
01:32:45.920 --> 01:32:48.800
Don't you imagine Cadbury buying Hershey. That's something that they

1920
01:32:48.800 --> 01:32:51.920
wouldn't even talked about with Biden as president, with now

1921
01:32:51.920 --> 01:32:55.159
Trump coming in by the time they the regulators, which

1922
01:32:55.159 --> 01:32:58.399
should be good. Right later in the week, Cadbury said, nah, no,

1923
01:32:58.479 --> 01:33:00.800
we're not gonna do that, so back down and went

1924
01:33:00.920 --> 01:33:02.399
But interesting to.

1925
01:33:02.359 --> 01:33:06.800
That point, Kroger, did you see their deal like they didn't. Yeah,

1926
01:33:06.840 --> 01:33:10.199
they didn't. What is it called re in states? They

1927
01:33:10.199 --> 01:33:14.880
didn't move to continue the trial. Yeah, right, and which

1928
01:33:15.039 --> 01:33:17.359
I thought was interesting because there's a new administration coming

1929
01:33:17.479 --> 01:33:20.399
and I thought maybe there'll be a little bit more lenients.

1930
01:33:20.079 --> 01:33:22.439
With this, a new sheriff in town.

1931
01:33:24.159 --> 01:33:26.199
But they're not even doing anything. They're just gonna call

1932
01:33:26.239 --> 01:33:29.760
it quits. So they just wow, that's what it seems like.

1933
01:33:29.840 --> 01:33:33.079
But we'll see, you know, we'll do some housekeeping there.

1934
01:33:33.159 --> 01:33:36.760
Yeah. We talked about Lelly and down thirteen percent in

1935
01:33:36.800 --> 01:33:39.560
the last ninety days, and again, what's weighing on it

1936
01:33:39.600 --> 01:33:45.159
is concerned about Kennedy. Concerned about the pharmacy, the compound

1937
01:33:45.199 --> 01:33:48.920
pharmacies who are now allowed to make the GLP one

1938
01:33:49.079 --> 01:33:52.600
drug and sell it at much lower prices. Something we

1939
01:33:52.640 --> 01:33:55.000
can't figure out. I think maybe Trump will put an

1940
01:33:55.079 --> 01:33:57.359
end to that. Hopefully as a businessman, he's.

1941
01:33:57.239 --> 01:33:59.920
Gonna not now they've been allowed to make them, but he's.

1942
01:33:59.760 --> 01:34:01.760
Going to look at that and say that just doesn't

1943
01:34:01.760 --> 01:34:04.359
make any sense at all. Bank of America said the

1944
01:34:04.399 --> 01:34:06.520
stock is a bye. They have a price target twenty

1945
01:34:06.600 --> 01:34:10.720
five percent above current levels. Lily is really an expensive stock.

1946
01:34:10.760 --> 01:34:14.840
And if you're looking at Lily or Costco or any

1947
01:34:14.880 --> 01:34:17.319
of these companies that have forty and fifty times there,

1948
01:34:17.359 --> 01:34:19.279
and you just be careful because if they do start

1949
01:34:19.319 --> 01:34:22.159
to drop. And both of those are great, great companies,

1950
01:34:22.159 --> 01:34:26.279
all right, Costco is doing everything right. Lily has the

1951
01:34:26.319 --> 01:34:30.079
best GLP one drug and a fantastic Alzheimer's drug that's

1952
01:34:30.119 --> 01:34:33.800
coming out. Just be careful. There's a lot of fluff

1953
01:34:33.840 --> 01:34:36.840
in that. Heath is wandering back and he has something

1954
01:34:36.840 --> 01:34:38.159
to say, Well, I have to.

1955
01:34:38.039 --> 01:34:43.880
Say this Lily. I own Lily personally, but I'm not

1956
01:34:44.000 --> 01:34:50.840
banking on the GLP one drug there, even though Lily

1957
01:34:50.960 --> 01:34:56.279
and their competitor No Novo no disk Alzheimer's right, the

1958
01:34:56.319 --> 01:34:57.479
Alzheimer's drug.

1959
01:34:57.279 --> 01:35:00.520
Is supposedly they're not talking about it much, but supposedly

1960
01:35:00.560 --> 01:35:01.399
it's gigantic.

1961
01:35:01.720 --> 01:35:07.199
If that, if that does what is anticipated, you'll be

1962
01:35:07.319 --> 01:35:10.079
wishing you bought at at forty or fifty times, right.

1963
01:35:10.319 --> 01:35:12.199
Yeah, yeah, I think what what I was doing, Heath

1964
01:35:12.239 --> 01:35:14.560
to just saying, just be careful if these uh yeah,

1965
01:35:14.600 --> 01:35:14.960
if these.

1966
01:35:14.840 --> 01:35:16.960
Stocks it's still somewhat speculative at this yeah.

1967
01:35:16.960 --> 01:35:18.920
And if these shocks just start selling off, there's nothing

1968
01:35:18.960 --> 01:35:20.800
to stop them. I mean it's it's kind of like bitcoin.

1969
01:35:20.840 --> 01:35:23.319
If Bitcoin's start selling off, there's nothing to stop it.

1970
01:35:23.399 --> 01:35:26.079
No, Novo has actually been pouring tons of money into

1971
01:35:26.119 --> 01:35:28.439
the research and development for the quantum computing as well,

1972
01:35:28.439 --> 01:35:30.600
which is interesting. A pharmaceutical company like you guys were

1973
01:35:30.600 --> 01:35:33.600
talking about earlier again gonna be the bigger They're gonna

1974
01:35:33.600 --> 01:35:34.920
benefit the most off of this jet.

1975
01:35:34.960 --> 01:35:36.680
But he had every country in the world trying to

1976
01:35:36.720 --> 01:35:39.039
do the quantum computing. And I have an engineer from

1977
01:35:39.119 --> 01:35:42.600
Raytheon that told me about quantum computing a year ago

1978
01:35:42.760 --> 01:35:44.920
or two years ago or three years ago, and I thought,

1979
01:35:44.920 --> 01:35:47.920
what's he talking about? So it's all the all the rage, right,

1980
01:35:48.319 --> 01:35:50.680
So we're coming to the end of another Money Matters show.

1981
01:35:50.760 --> 01:35:53.039
We all want to be happy, and we want to

1982
01:35:53.079 --> 01:35:55.000
be healthy, because if we're not healthy, we're not happy.

1983
01:35:55.199 --> 01:35:57.479
In a Greenberg financial will, we're really trying to be

1984
01:35:58.039 --> 01:36:00.239
probable goo