Mitigating Risk - How to Protect Yourself While Markets are High

100:00:00,120 --> 00:00:04,200Good morning everybody. It's that timeagain, Sunday morning, eight o'clock right200:00:04,240 --> 00:00:07,879here in seven ninety k ands T. This is Dean Greenberg and we will300:00:07,960 --> 00:00:10,599be bringing you the Money Matter Show. It's a two hour talk show.400:00:10,599 --> 00:00:14,720We talk about everything, what's affectingthe markets, what's affecting our world,500:00:14,800 --> 00:00:19,480what's affecting how we live, allthat stuff right on here on this show.600:00:19,519 --> 00:00:22,839Remember we have the three shows onSaturday, though a little bit more700:00:22,920 --> 00:00:27,039educational. We do the TV showafter the News on Sunday night at ten800:00:27,199 --> 00:00:31,719thirty. And it's just so allabout trying to get out to you all900:00:32,280 --> 00:00:35,640how we feel about the markets,what do we feel that's going on,1000:00:36,119 --> 00:00:42,039how we're investing, and you know, and obviously just basically try to help1100:00:42,039 --> 00:00:45,799you. That's what we try todo here at Greenberg Financial Group. This1200:00:45,960 --> 00:00:49,280is the Money Amount a show andit is sponsored by Greenberg Financial Group,1300:00:49,280 --> 00:00:53,520which is both the registered investment advisoryand a broken dealer registered with the SEC,1400:00:53,719 --> 00:00:56,960Members of Finery, members of CYPRIC. On the show, we talk1500:00:57,000 --> 00:01:02,719about a lot of stuff, products, strategies, ideas, our opinions.1600:01:03,240 --> 00:01:04,799It doesn't matter what it is,it's always got some type of risk,1700:01:04,840 --> 00:01:10,439and we highly suggest you understand thoserisks prior to investing. If you don't1800:01:10,560 --> 00:01:14,319understand risk, then you don't understandhow to invest. You have to understand1900:01:14,359 --> 00:01:18,560your own risks. You have arisk tolerance. And what that is,2000:01:18,640 --> 00:01:21,239It's real simple. When the marketsare going up, your risk tolerance goes2100:01:21,319 --> 00:01:23,079high. You want to buy in, you want to buy more, you2200:01:23,079 --> 00:01:26,000want to be aggressive. You wantto be buying stocks that are a hundred2300:01:26,000 --> 00:01:30,840points higher than they were when youdidn't want them. That's not risk tolerance,2400:01:30,879 --> 00:01:36,120that's greed. Ris tolerance is whenthings are just going around and they're2500:01:36,120 --> 00:01:38,159boring, what do you want?How much can you handle on the downside2600:01:38,200 --> 00:01:42,280before you start panicking, stressing outand wanting to sell everything you have?2700:01:42,719 --> 00:01:46,000How much can you go ahead?And the only way you get to that2800:01:46,159 --> 00:01:48,680is when the markets are rallying likethey have been. You got to go2900:01:48,680 --> 00:01:51,480ahead and say, okay, shouldI take some money off the table?3000:01:51,519 --> 00:01:55,040Should I have a nice cash position? All those things are very important,3100:01:55,040 --> 00:02:00,480and what we call that is mitigatingrisk. Mitigating risk means when when we3200:02:00,519 --> 00:02:02,439think the risk is higher like wedo right now, than the reward,3300:02:02,480 --> 00:02:10,120then we do investment strategies that willslow down the growth but will certainly protect3400:02:10,159 --> 00:02:14,240us. If the markets come downa bit. That means we still lose,3500:02:14,319 --> 00:02:16,080but we won't lose as much,but we won't gain as much.3600:02:16,319 --> 00:02:21,280Remember this is a long term game. You want to drive. You want3700:02:21,280 --> 00:02:24,280to get away from getting the marketskilled. Because what happens is when the3800:02:24,319 --> 00:02:28,800markets go down, everybody decides that'swhen they want to sell. But when3900:02:28,840 --> 00:02:30,840the markets are up, that's wheneverybody wants to buy. It's the absolute4000:02:31,240 --> 00:02:36,360wrong thing to do. So understandinghow to mitigate risk is very important.4100:02:36,400 --> 00:02:38,719It's one of the things that Ithink separates us also is that we know4200:02:38,759 --> 00:02:42,800how to do that. Whether we'rebuying puts, whether we're do it buying4300:02:42,879 --> 00:02:46,199inverse funds, whether're selling calls,whether we're raising cash, reducing positions,4400:02:46,199 --> 00:02:51,080stay into allocation. But what Icall it as discipline. Do we stay4500:02:51,240 --> 00:02:54,560disciplined? And we do. Mostpeople don't understand what that means. It4600:02:54,560 --> 00:02:58,319means if it's going up and wehave allocations, we'll take some money off4700:02:58,360 --> 00:03:02,879the table when least a high,raise some cash when it's down. We're4800:03:02,919 --> 00:03:07,280not afraid to buy then because ifwe got out of a part of a4900:03:07,319 --> 00:03:09,919stock higher and it's coming back down, and we see opportunity, we'll buy.5000:03:09,919 --> 00:03:13,719Even though if it goes lower,we still saved a whole bunch of5100:03:13,719 --> 00:03:15,759it. Coming back down. Itdoesn't mean it comes back down. It5200:03:15,800 --> 00:03:20,520could keep going higher. I've beenthinking that forty three hundred would have been5300:03:20,560 --> 00:03:23,000the top of this market, butwe're now at forty five and change.5400:03:23,879 --> 00:03:28,960We're really extended. In my opinion, I'm very cautious on the market,5500:03:29,000 --> 00:03:31,319but yet we're still being able tomake some money. As it rises,5600:03:31,599 --> 00:03:35,879we'll give some of that back.But the beauty of it is we got5700:03:35,879 --> 00:03:38,280a nice cash position. If itcomes down, you can't tell me nineteen5800:03:38,319 --> 00:03:44,879point five forward earnings forward, noteven current forward. Current is higher earnings,5900:03:46,240 --> 00:03:50,439it's high. The norm is fourteenfifteen, maybe sixteen. That means6000:03:50,439 --> 00:03:53,439it should be around thirty five hundredon the SMP. I know right now6100:03:53,599 --> 00:03:58,439what's happened. It's simple when youlook at it from a psychological point.6200:03:58,759 --> 00:04:01,120We were breaking out, and hedgefunds get invested, they start buying,6300:04:01,280 --> 00:04:04,159and which means the other people thathave money in the modern markets started saying,6400:04:04,159 --> 00:04:08,520I got to get more aggressive,and I gotta get back in the6500:04:08,639 --> 00:04:13,719question is we were everyone was sobearish and including us that you know,6600:04:13,759 --> 00:04:16,319the figure we can go lower thatwhen we got to up here, it6700:04:16,399 --> 00:04:21,000kept going. People started going andnow they're turning a little bit bullish now6800:04:21,079 --> 00:04:26,680that that whole thing. And Icould see it in the putting calls ratios.6900:04:26,800 --> 00:04:30,920You can the puts are cheaper thanthe calls, which means everybody speculating7000:04:30,920 --> 00:04:35,120and the market will go higher,and that usually means it won't. There's7100:04:35,160 --> 00:04:40,639so much out there. Valuations meanssomething. You know, take away the7200:04:40,639 --> 00:04:45,160magnificent in seven and you have ascenario that the markets aren't rising as much7300:04:45,600 --> 00:04:49,040as you see those indexes. Thedall's only up six percent, the s7400:04:49,120 --> 00:04:54,519and P five hundred, the equalrated weighted one is only up nine percent,7500:04:55,319 --> 00:04:59,000while the natzacs up thirty four andthe SMP's up eighteen. But the7600:04:59,120 --> 00:05:03,079seven stocks, and you know whatthey are, Microsoft, Google, Apple,7700:05:04,399 --> 00:05:15,240Amazon, that flicks Microsoft and thevideo. There are a lot of7800:05:15,240 --> 00:05:18,800those stocks that have rallied, rallied, rallied. I still think some of7900:05:18,839 --> 00:05:21,920them can rally. I still thinkthe Video on a ten percent fifteen percent8000:05:21,959 --> 00:05:28,120pullback is still a buy. Istill think you can go to five hundred,8100:05:28,160 --> 00:05:30,560five fifty possibly both. Do Iwant to buy it at four fifty8200:05:30,560 --> 00:05:34,480four to sixty now, I'd rathersee it come back down. If it8300:05:34,480 --> 00:05:38,680gets unto four hundred, I'll bevery attracted to it again. But remember8400:05:38,720 --> 00:05:43,879that stock started all the way downwhere under one fifty, under one twenty8500:05:43,879 --> 00:05:48,160five, nobody wanted to buy it. It got low, and then it8600:05:48,199 --> 00:05:54,120started rallying and rallying. Why becausethey have the AI chip that does something8700:05:55,519 --> 00:05:58,680that nobody else does, and itcosts ten thousand dollars per chip, and8800:05:58,759 --> 00:06:03,199they can't even make enough for them. But eventually other people will get in8900:06:03,279 --> 00:06:08,360and eventually that will cut into theirpricing, and eventually that will make the9000:06:08,439 --> 00:06:11,839stock weigh over value like it isright now if it doesn't catch up with9100:06:11,839 --> 00:06:15,439earnings. But I think for thenext I don't know, you know,9200:06:15,519 --> 00:06:18,199maybe year, year and a half, their earnings will be very very good.9300:06:18,560 --> 00:06:21,800The difference is will it be ableto match a five hundred and six9400:06:21,879 --> 00:06:28,439hundred dollar stock price. We'll see, okay, But it's all about allocations.9500:06:29,199 --> 00:06:30,800It's all about income. At leastnow, when you're sitting and waiting,9600:06:30,800 --> 00:06:34,160you can get four four and ahalf fives maybe five and a half9700:06:34,199 --> 00:06:39,879percent money markets and government bonds.That's not a bad place to have some9800:06:39,920 --> 00:06:43,639money right now, okay, whileyou're waiting before the money markets and everything9900:06:43,680 --> 00:06:46,279else will under one percent. Soit was very difficult to just sit there10000:06:46,319 --> 00:06:53,600because you aren't making anything. Butas we rally, think about it,10100:06:53,639 --> 00:06:57,160like a rubber band and its stretches, stretches, stretcher, stretches and stretches.10200:06:57,560 --> 00:07:00,639The eventually that rubber band snouts andwhen it snouts back, it snaps10300:07:00,639 --> 00:07:04,319back fast, it snaps back hard, and then all of a sudden it10400:07:04,319 --> 00:07:11,639goes the other way. Can wesee a forty five to seven percent pullback?10500:07:11,639 --> 00:07:14,519Of course we could. Will Iwait that long to go back in10600:07:14,560 --> 00:07:16,759a little bit, No, I'llstop positioning probably before that if we hit10700:07:16,839 --> 00:07:20,600some support levels, unless it's areason, then we're coming down. But10800:07:20,720 --> 00:07:25,040the one thing I can tell youright now, selling a little bit in10900:07:25,120 --> 00:07:30,800here, making sure you have acash position is extremely smart. August September11000:07:30,839 --> 00:07:33,000the worst two months of the year. Worst two months. September is the11100:07:33,000 --> 00:07:39,439only down month on the average yearover year. Does that mean it has11200:07:39,519 --> 00:07:42,680to go down? Heck no,I've seen August September is up, but11300:07:42,800 --> 00:07:46,639on the whole, and it's allabout percentages. The odds are the market11400:07:46,639 --> 00:07:49,240will not do well in August andSeptember, So why do we want to11500:07:49,279 --> 00:07:58,120be hanging around waiting for that tohappen. Raise cash opportunities arise all the11600:07:58,199 --> 00:08:01,920time, all the time, andwhen they do, if you don't have11700:08:01,040 --> 00:08:05,680money, you can't buy. We'renot institutions, insurance companies, pension plans11800:08:05,720 --> 00:08:11,360that constantly have money flowing into usthat we can buy in and keep averaging11900:08:11,360 --> 00:08:18,000down and doing things like that.We don't have that scenario. We usually12000:08:18,000 --> 00:08:20,319get some money in, we getsome more money. We look at whatever12100:08:20,360 --> 00:08:24,879that lump sum is. We haveto manage it, and we manage it12200:08:24,879 --> 00:08:28,759through the planning process. We plan, plan, plan, and then we12300:08:28,879 --> 00:08:31,920do the job at the end,which is the money management. We don't12400:08:31,959 --> 00:08:35,840ship it off to other people andthen let them go ahead and decide how12500:08:35,879 --> 00:08:39,360to invest it. The biggest thingthat I have found is people are coming12600:08:39,360 --> 00:08:43,720in here and talking to me andmy crew is what they like about us12700:08:45,799 --> 00:08:50,879is that we're flexible that if forsome reason they feel like the market's going12800:08:50,879 --> 00:08:52,799down, we're still able to workwith them. We're not going to sit12900:08:52,879 --> 00:08:56,720there and say, okay, let'sjust go ahead and hold because it goes13000:08:56,759 --> 00:09:00,639down and goes up. We havea plan. But what we do show13100:09:00,720 --> 00:09:03,080is, hey, we've mitigated risk. We have all this cash on the13200:09:03,120 --> 00:09:07,720sidelines, and this is what we'regoing to do. These are the levels13300:09:07,720 --> 00:09:09,600we're looking for. These are thestocks we're looking for, These are the13400:09:09,679 --> 00:09:16,639ets we're looking for. We reallocate, we redistribute. We come out of13500:09:16,679 --> 00:09:18,960stocks that are not good, wego into the stocks that are good.13600:09:22,320 --> 00:09:24,360We have a nice bond ladder position. We've been doing lots and lots and13700:09:24,440 --> 00:09:28,759lots of bonbladders. We're treasuries.We have a little kicker that we put13800:09:28,759 --> 00:09:31,919at the end there because if ratescome down, we want to participate in13900:09:33,000 --> 00:09:37,600that. So we'll go one,two, three, even maybe up to14000:09:37,679 --> 00:09:41,279five years of treasury bonds and thenwe'll put a little something in at the14100:09:41,360 --> 00:09:46,399end. So if interest rates godown, that can go up. It's14200:09:46,480 --> 00:09:50,120dropped almost forty fifty percent. Itcan go back up at some time if14300:09:50,200 --> 00:09:54,120rates come down. But what we'redoing is hedging against rates coming down while14400:09:54,120 --> 00:09:56,440still making income and still making thethings we want to do. In a14500:09:56,559 --> 00:10:03,360very conservative way. These are strategiesthat our experience have told us. These14600:10:03,399 --> 00:10:05,960are the way things can work.That doesn't mean everything we do works,14700:10:07,080 --> 00:10:09,879because I could tell you we knowit doesn't. But what we do know14800:10:11,039 --> 00:10:13,360is that we don't quit. Wekeep looking, We keep looking for opportunities,14900:10:13,559 --> 00:10:18,960and we keep moving forward, soas the markets keep rallying and the15000:10:18,080 --> 00:10:20,480Dow is the one. You remember, I said a few year weeks ago,15100:10:22,200 --> 00:10:26,320stop buying into the SMP and stopbuying into the DOO, because the15200:10:26,399 --> 00:10:30,200Dow was lagging everything. And like, the Dow was up two percent this15300:10:31,080 --> 00:10:35,039week, and the SMP was onlyup point seven Now that's that was actually15400:10:35,080 --> 00:10:39,840down a half a percent, andthe SMP five hundred equal weighted was up15500:10:39,879 --> 00:10:43,879one point three percent. All right, So if there's a shift, you15600:10:43,919 --> 00:10:48,639can see the shift. I alsosee the nervousness in the markets. And15700:10:48,679 --> 00:10:52,120in any time, the markets canget hit for three to five percent,15800:10:52,440 --> 00:10:56,399very very quickly, because all ofa sudden, the buyers will walk away,15900:10:56,759 --> 00:11:01,240the sellers will come in, andcomputers will kick in with sell programs,16000:11:01,399 --> 00:11:05,200and the next thing you know,we're down five hundred to a thousand16100:11:05,200 --> 00:11:09,559points and we're back down to youknow, possibly forty three fifty or so16200:11:09,200 --> 00:11:11,960is if you if you think aboutit as forty three hundred. I think16300:11:13,000 --> 00:11:20,279there's some support in that area aswe stop. Moving forward. Next week,16400:11:20,639 --> 00:11:26,360the Fed's gonna raise rates again.Everybody knows they're gonna raise rates again.16500:11:26,440 --> 00:11:30,000That's a good thing. Well,we don't know, is what he's16600:11:30,000 --> 00:11:35,440gonna say afterwards, because well,I'm a little confused, because why don't16700:11:35,440 --> 00:11:39,120we sit and wait to see whatthe actions that they've taken we'll do for16800:11:39,240 --> 00:11:43,639us. We see, we seethe PPI and CPI numbers coming down.16900:11:45,200 --> 00:11:48,240Yeah, I know they're not wherethey are, but it's going to take17000:11:48,279 --> 00:11:52,279some time. If they continue toraise interest rates, we can go off17100:11:52,279 --> 00:11:56,320the cliff. I know out therenow you're listening them to these news probably17200:11:56,399 --> 00:12:01,080you're reading things, Oh, it'sprobably gonna be a off landing, and17300:12:01,720 --> 00:12:03,960the markets like the fact that theythink it's gonna be everything's gonna be great.17400:12:05,799 --> 00:12:09,879I don't know, they don't know. I don't think that's the case.17500:12:09,519 --> 00:12:16,120The only reason they're saying that isbecause of jobs, that the unemployment17600:12:16,279 --> 00:12:20,440is not going up, But unemploymentis going up because we are not going17700:12:20,480 --> 00:12:24,480up because we do not have enoughqualified people to take the jobs. So17800:12:24,559 --> 00:12:28,559whenever someone gets qualified, there's ajob for them to take. They were17900:12:28,639 --> 00:12:35,639they were concerned because of jobless numbers. Were surprised this week they were reduced.18000:12:35,120 --> 00:12:41,080Not as many people looking for jobs. That's because we have so many18100:12:41,159 --> 00:12:45,399jobs but not enough qualified people.Why I scratched my head on that and18200:12:45,440 --> 00:12:48,559say, why don't we start gettingpeople qualified instead of handing them checks and18300:12:48,679 --> 00:12:52,360money and promises and and get outof their school loans. If they went18400:12:52,399 --> 00:12:56,120to college and they got a studentloan, they and pass the stuff.18500:12:56,279 --> 00:13:01,480So they have to have some typeof intelligence if they're not in work,18600:13:01,559 --> 00:13:07,519Stop paying them, stop giving thema break, start giving them the opportunity18700:13:07,559 --> 00:13:09,600to learn what these companies want.Get these you had, you know on18800:13:09,639 --> 00:13:15,720Friday, they had all these corporationscoming to talk about AI. Why don't18900:13:15,759 --> 00:13:18,879they have a collaboration with them alsoabout how to getting people back into the19000:13:18,919 --> 00:13:26,799workforce that they need technologiy. Thesecompanies that constantly higher and then they lay19100:13:26,840 --> 00:13:30,200off, then they hire, thenthey lay off, and then they hire.19200:13:30,519 --> 00:13:35,519Let's find a way that they canget start paying and helping get back.19300:13:35,840 --> 00:13:39,279But it all give them tax breaks. You know they all worry about.19400:13:39,279 --> 00:13:43,960We're gonna go ahead and we're gonnatax tax the corporation. We're gonna19500:13:43,000 --> 00:13:46,600put this minimum tax on. We'regonna be the only one in the world19600:13:46,639 --> 00:13:50,240that does it. So where they'regonna do, they're gonna stop going overseas19700:13:50,320 --> 00:13:56,039again like they did before. They'regonna avoid them, avoid taxes. You19800:13:56,080 --> 00:14:01,240want to change and change the wholetax code. Change it. You hear19900:14:01,279 --> 00:14:05,159me talking about flat tax all thetime, every time that word comes out20000:14:05,200 --> 00:14:09,919of paying your fair share from JosephBiden, I go, then do a20100:14:11,080 --> 00:14:18,200flat tax, you more on.It's that simple fair share ten percent across20200:14:18,240 --> 00:14:22,240the board, everyone pays. Ifyou only make it three thirty grand,20300:14:22,240 --> 00:14:26,240you're paying three grand. If youmake it a million, you're paying you're20400:14:26,279 --> 00:14:33,639paying ten thousand, one hundred thousand, I mean one hundred thousand, Okay.20500:14:35,399 --> 00:14:39,440In their mind, fair share meansif you're making more, you got20600:14:39,480 --> 00:14:46,879to pay a higher percentage. Tome. Fair share its percentages. It's20700:14:46,919 --> 00:14:52,559not dollar amounts. So somebody doesn'tpay taxes and other people are paying on20800:14:52,600 --> 00:14:56,360the average thirty thirty five percent.Then you add in the city and the20900:14:56,480 --> 00:15:01,519local and the state taxes and they'reupwards the fifth somewhat percent in these states.21000:15:01,720 --> 00:15:03,720And what do they take them anddo with the money. They talk21100:15:03,759 --> 00:15:11,200about reparations, giving money to people, use the money and clean up the21200:15:11,279 --> 00:15:16,919cities, help the homeless, getsome place to live, a good homeless,21300:15:16,919 --> 00:15:20,000a job. Immigration. I laughat this. I laugh at this.21400:15:22,879 --> 00:15:31,639The White House started being so happybecause they've seen a reduction from year21500:15:31,679 --> 00:15:37,639to year of immigrants coming in,reduce I don't know, eighty ninety thousand21600:15:37,639 --> 00:15:41,279from last June to this June.It's still one hundred and forty four thousand21700:15:41,360 --> 00:15:46,240people. I think that came inaccording to their records, and that's what21800:15:46,320 --> 00:15:58,320they know about whether in two twentyit was like, who knows thirty thousand,21900:15:58,360 --> 00:16:04,320I think. But nobody will fixthat system because it's too political.22000:16:04,360 --> 00:16:08,240They want to use it as adivide between everybody. But when you speak22100:16:08,240 --> 00:16:14,960to people not only here but aroundthe world, everybody agrees legal immigration is22200:16:15,000 --> 00:16:17,919fine. Let's figure out how wecan do it. Obviously, the same22300:16:17,960 --> 00:16:21,600immigration that we've used for the lastfifty years is not good when you have22400:16:21,679 --> 00:16:25,440millions of people coming across the border. When they used to come on ships22500:16:25,440 --> 00:16:30,639into Ellis Island. You might havehad a few hundred, big difference between22600:16:30,679 --> 00:16:38,039millions and hundreds, but we hadthe same archaic system. Don't put the22700:16:38,159 --> 00:16:42,679money into irs agents trying to goahead and catch people. Change the tax22800:16:42,759 --> 00:16:49,639laws. Make it simple. Usethat money to work on the border.22900:16:52,120 --> 00:16:57,320Hire these people to assimilate the peoplecoming across the border, get them educated,23000:16:57,360 --> 00:17:03,720get them speaking English. The corporationshelp the schooling these children and and23100:17:03,839 --> 00:17:08,400adults in areas that they can goget jobs, so they can pay taxes,23200:17:10,000 --> 00:17:14,359so they can go ahead and payfor healthcare. We are paying everything.23300:17:18,279 --> 00:17:22,599Can you imagine going to another countryand getting healthcare, food, lodging,23400:17:23,480 --> 00:17:30,839everything for free, education for yourkids free. Because if we don't,23500:17:30,920 --> 00:17:38,240we're not being humanity. But yep, you look around our country,23600:17:38,279 --> 00:17:44,599you look around our cities. Yousee homeless everywhere you see you see you23700:17:44,720 --> 00:17:49,039see gangs shooting each other. Yousee people punching people all over New York23800:17:49,559 --> 00:17:52,799subways killing And who do they goafter in the subways. They go after23900:17:52,839 --> 00:17:59,519the marine who is helping everybody outon the subway, not the crazy guy24000:17:59,759 --> 00:18:03,720that is in jail for whatever.You know, I had a rest and24100:18:03,839 --> 00:18:07,599jail and hurt people just a weekbefore. Na, Nah, not him.24200:18:08,279 --> 00:18:11,920Yes. Is it a shame hedied without getting help? Yeah,24300:18:11,200 --> 00:18:15,240blame yourself for not getting help.I haven't blamed the city for not getting24400:18:15,279 --> 00:18:18,279help for him. You can't goto courts and be that crazy and not24500:18:18,400 --> 00:18:23,119think and keep releasing him and Ithink something's gonna happen. But if you24600:18:23,200 --> 00:18:26,559think about it, was it betterthat something happened to him or to the24700:18:26,640 --> 00:18:33,559mother and children that he kept goingafter. There's so much messed up stuff24800:18:33,559 --> 00:18:37,400in our country and the world rightnow, but the people understanding not not24900:18:37,440 --> 00:18:42,559doing anything because the government's refuse tolook at things from a different advantage.25000:18:42,759 --> 00:18:45,400All they want to do in thisgovernment right now is looking at the stuff25100:18:45,400 --> 00:18:56,880from climate control, climate control,greenness, green that unions. I'm appalled25200:18:57,279 --> 00:19:03,359that he that our president. I'mthe best president since ever about unions.25300:19:03,799 --> 00:19:14,920I love unions. Unions have theirplace, but unions are not what they25400:19:15,000 --> 00:19:17,960used to be in the twenties,thirties, forties and fifties when they were25500:19:18,039 --> 00:19:25,839protecting them from bad environments, wages, all that stuff. Very few people25600:19:25,880 --> 00:19:33,839get help with wages with unions.The Teachers Union has another agenda and when25700:19:33,839 --> 00:19:37,559they go out. Who benefits.Parents don't benefit, the kids don't benefit,25800:19:38,319 --> 00:19:44,519the teachers don't benefit, the schoolsdon't benefit, the unions benefit.25900:19:44,559 --> 00:19:47,599And then they have to compromise andmaybe they get a little bit more pay.26000:19:47,720 --> 00:19:51,680Do I think teachers should get morepay, Absolutely, but the should26100:19:51,759 --> 00:19:59,039teachers be treated just like every otheremployee on merit. You get based on26200:19:59,160 --> 00:20:06,759merit. Absolutely. We were amerit based society. We earned what we26300:20:06,839 --> 00:20:10,359have to do, and it's startingto change back to that. It's a26400:20:10,359 --> 00:20:18,960fight Supreme Court. We're in controlthe Supreme Court now and it is driving26500:20:18,000 --> 00:20:22,359the liberals crazy. They don't evenwant to listen to the law. When26600:20:22,400 --> 00:20:26,839they come down with decisions, theydon't care they go against it. Those26700:20:26,920 --> 00:20:30,880judges and the people that go againstthe law need to be arrested themselves.26800:20:33,400 --> 00:20:41,720We have a two tier system hereand it's always against those on the right.26900:20:41,480 --> 00:20:45,440If somebody on the right decided thatthey weren't going to abide by the27000:20:45,519 --> 00:20:52,160law, they would get crucified.A judge would be crucified. The Supreme27100:20:52,160 --> 00:20:57,359Court. For how many years theycontrolled it on the left and we just27200:20:57,519 --> 00:21:00,680accepted it. This is the law. We don't like it. But we're27300:21:00,720 --> 00:21:07,640gonna deal with it the best wecan. They want to abolish the Supreme27400:21:07,680 --> 00:21:11,200Court because they don't get their way. That reminds me of growing up with27500:21:11,319 --> 00:21:17,119the little wheenies that always got upsetwhen they didn't win, and they're gonna27600:21:17,119 --> 00:21:21,720take that ball and go home.Well, you know what, we don't27700:21:21,799 --> 00:21:25,400let him take that ball. Wewant to got our own balls. We27800:21:25,480 --> 00:21:29,839didn't need them, and we movedon. And then they were sitting on27900:21:29,880 --> 00:21:34,240the sidelines watching us play and watchingus have fun. And when they came28000:21:34,279 --> 00:21:40,000and said today, can I comeand play? We said no, until28100:21:40,000 --> 00:21:44,039you realize that taking your ball andgoing home isn't gonna work. We don't28200:21:44,039 --> 00:21:48,680want you with us. And that'sback when the kids actually played outside and28300:21:48,839 --> 00:21:52,319went down to the park and wentdown to the ball field and did things28400:21:52,400 --> 00:21:57,200that way. You did not MoMAand Daddy hovering over trying to tell everybody28500:21:57,200 --> 00:22:02,440what to do. You grew up, You grew up in society. You28600:22:02,839 --> 00:22:06,599suffered when when you when you didthings that other people didn't want, and28700:22:06,680 --> 00:22:08,880you get and you benefited when youwere the ones that were able to lead28800:22:08,920 --> 00:22:11,839and and and get people to dothe things you wanted. To do.28900:22:12,440 --> 00:22:15,079It's life, baby, It's life, and that's what it's all about.29000:22:15,799 --> 00:22:22,359And right now, I look atwhat's going on politically with the Biden situation,29100:22:22,799 --> 00:22:26,440and if we if you don't seethat, then you are blind to29200:22:26,799 --> 00:22:32,160justice. If you know, ifTrump is wrong and he's doing all these29300:22:32,160 --> 00:22:34,680things, and they can find legalthings, which half of the stuff is29400:22:34,759 --> 00:22:41,519bull right, then why isn't theBiden's getting the same treatment. How the29500:22:41,720 --> 00:22:48,880hell did they get seventeen million dollars? Fifteen million dollars? And now it's29600:22:48,000 --> 00:22:55,599Romania, and it's Ukraine, andand and it's Russia, and it's China.29700:22:55,920 --> 00:23:00,559You know what it reminds me ofwhen people lie, when people are29800:23:00,599 --> 00:23:03,720wrong, what do they do?They accuse you of what they did.29900:23:04,039 --> 00:23:08,519And the reason they accuse you ofwhat they did is because they know what30000:23:08,599 --> 00:23:14,279they did and they can accuse youof it because they know how it works.30100:23:15,480 --> 00:23:19,359They've already been able to see howyou get the money. So let's30200:23:19,400 --> 00:23:22,880just say Trump did it, trumpshim with China, trumps him with Russia.30300:23:23,000 --> 00:23:29,160Look at these actions, and thewhole time, and the whole time30400:23:30,200 --> 00:23:34,279it's been the Bidens doing it.Trump wasn't wrong with Ukraine, going ahead30500:23:34,319 --> 00:23:38,599and talking about bears and all thisother stuff. Doesn't common sense come in?30600:23:40,200 --> 00:23:45,240What the hell did the Bidens doto get money? He's been a30700:23:45,279 --> 00:23:52,160politician forever. What does he learnedin the world other than corruption and greed30800:23:52,319 --> 00:23:56,599and power? How could he giveor humpt Biden give any information. The30900:23:56,599 --> 00:24:00,319guy's the biggest loser in the world. Don't even care about his own child.31000:24:00,960 --> 00:24:03,279I don't care how that child cameinto the world. I don't care31100:24:03,279 --> 00:24:08,319if you a sec club, doingdrugs, doing everything. When you do31200:24:08,359 --> 00:24:12,279a test to see if that childjews and the jaws and you go ahead31300:24:12,319 --> 00:24:17,319and act like it's not even yours. I gotta I don't care how much31400:24:17,319 --> 00:24:21,119the mother might be well. Theproblems you have with the family that child31500:24:21,519 --> 00:24:23,960is hunt the Biden's and no matterhow it got there, you deal with31600:24:23,960 --> 00:24:26,079it, and you deal with theright way. We'll be right back.31700:24:26,160 --> 00:24:29,759We got a full show to you. This is the money mounted show.31800:24:29,799 --> 00:24:38,279Thank you for listening. Welcome back, everybody. This is Dean Greenberg.31900:24:38,359 --> 00:24:41,759This is the money amount of show. We have Dave and Dylan and Todd32000:24:41,759 --> 00:24:45,119all here today, and I gottatell you this has been a busy,32100:24:45,160 --> 00:24:52,319busy, busy week, and I'mhappy that what we're doing and is resonating32200:24:52,640 --> 00:24:59,279with people, you know, andit's people enjoying to hear the mitigating risk32300:24:59,319 --> 00:25:03,400part. They're enjoying hearing the financialplanning point. And then when they come32400:25:03,440 --> 00:25:07,799in and actually get it done,they realize how simple it really has been32500:25:07,960 --> 00:25:10,720because we make it simple at theend, because it's not really simple,32600:25:11,119 --> 00:25:15,960and they can see the whole processand how it can help them exactly.32700:25:15,000 --> 00:25:18,039I mean, through the years,it's hard to actually imagine or plot out32800:25:18,079 --> 00:25:22,000what's really going to happen, butthe financial plan and our proposal, you're32900:25:22,000 --> 00:25:25,720actually able to see it all onpaper, really see a roadmap, a33000:25:25,799 --> 00:25:27,920timeline of sorts, and so thatgives a lot of people peace of mind33100:25:29,000 --> 00:25:32,440through the years, knowing that theyhave a plan, they have being secured33200:25:32,480 --> 00:25:34,720in different vehicles. It's everything's basedon your risk tolerance, so you don't33300:25:34,720 --> 00:25:38,119have to worry about risk from thatstandpoint. It's a very good tool to33400:25:38,160 --> 00:25:44,240have in summertime, especially with temperaturesin one hundred and twelve range pretty quiet33500:25:44,279 --> 00:25:47,920around here, but not this year. You guys have been just busy as33600:25:47,920 --> 00:25:51,359can be and like Dean said,is it's resonating. We had a client33700:25:51,440 --> 00:25:53,920come in and they were they weresaying, you know, we heard summer's33800:25:53,960 --> 00:25:57,839the best time to come in becauseyou're slower, and it is the best33900:25:57,880 --> 00:26:02,240time, and we're not as slowwe normally are because of that, because34000:26:02,240 --> 00:26:04,559we do want to help as manypeople as we can during this time where34100:26:04,559 --> 00:26:07,799a lot of people are freed upfrom a lot of the responsibilities that will34200:26:07,839 --> 00:26:11,880come in a couple of months rightwith the holidays. We know it's it's34300:26:11,000 --> 00:26:15,599very hard to really sit down andgive the devotion in time that's needed on34400:26:15,640 --> 00:26:22,240this financial plan because it really isimportant to understand your goals, your objectives34500:26:22,759 --> 00:26:25,680for yourself, for your life.Right, everyone's going to be different,34600:26:25,759 --> 00:26:29,279and if you're not in the righttime and place in your own mindset,34700:26:29,319 --> 00:26:32,519if you're too stressed worried about otherthings, then the financial plan is really34800:26:32,519 --> 00:26:34,559not going to resemble who you areand what you really value. What's good34900:26:34,599 --> 00:26:37,680about it, It lines it allup. Okay, you start off for35000:26:37,680 --> 00:26:41,640the risk tolerance, then you canget the whole picture, and we make35100:26:41,680 --> 00:26:44,119sure that the protect it too.I mean, you got to make sure35200:26:44,160 --> 00:26:47,880they have their insurance If they needguaranteed income, we get them that guaranteed35300:26:47,920 --> 00:26:51,599income all the things. If theyhave tax problems, we deal with the35400:26:51,680 --> 00:26:53,960tax problems. Who we decide whenthey should take Social Security and not take35500:26:55,039 --> 00:26:57,440so, so the optim in timefor them Medicare. Even though these are35600:26:57,480 --> 00:27:03,640not all the things we know about. The help federal employees totally have a35700:27:03,759 --> 00:27:07,519different one. You guys have becomepretty damn good and understanding. You've been35800:27:07,519 --> 00:27:11,839doing it for years now of helpingthem through. There we time and stuff35900:27:11,880 --> 00:27:15,680and being able to set them up. And one of the things we found36000:27:15,880 --> 00:27:18,119is their life insurance part. Asthey get closer, it's nice, but36100:27:18,160 --> 00:27:22,640once they switch over to not working, the premiums go through the ceiling and36200:27:22,319 --> 00:27:26,480most of them don't even realize.Yeah, and that's Fegley is what he's36300:27:26,519 --> 00:27:30,200talking about, is that once youretire, that premium just sometimes it even36400:27:30,240 --> 00:27:33,200triples. And a lot of thetime the Feds that we work with,36500:27:33,240 --> 00:27:34,720when they do retire, they don'teven need the life insurance anymore. They36600:27:34,720 --> 00:27:37,960had it for different reasons while theywere working, and then they find out36700:27:38,000 --> 00:27:41,000that that's going to triple, theyjust can get rid of it. Yeah,36800:27:41,039 --> 00:27:45,519maybe find a term policy. That'sbeen popular too if they do want36900:27:45,559 --> 00:27:49,559any kind of life insurance just incase, But very rarely does a federal37000:27:49,559 --> 00:27:53,240employee that we work with keep Fegleybecause of that premium increase, And people37100:27:53,240 --> 00:27:57,480don't understand that the when you're withan employer, you have a lot cheaper37200:27:57,519 --> 00:28:02,559life insurance rates. They're playing abortionof it, right. But also the37300:28:02,839 --> 00:28:07,400insurance company looks at a group ofpeople as a better insured risk from their37400:28:07,400 --> 00:28:11,319standpoint than just one individual person.Right. They can share the risk amount37500:28:11,359 --> 00:28:14,559a group of people instead of justone person, so you get a better37600:28:14,640 --> 00:28:17,720rate because of that. When you'reon your own, you finally retire and37700:28:17,720 --> 00:28:21,759you have That's why Fedley jumps upso much. Also, with federal employees,37800:28:21,759 --> 00:28:25,559you have FHB, which helps withthe Medicare side of things as well.37900:28:25,680 --> 00:28:30,119So understanding all those benefits is reallyimportant. And the federal employee benefits38000:28:30,119 --> 00:28:33,359are one of the best packages I'veever seen. I mean a lot of38100:28:33,400 --> 00:28:36,559those federal employees when they come inwe do the financial plan, they really38200:28:36,559 --> 00:28:40,960are set well. They're the oneswith the pensions that a lot of private38300:28:40,960 --> 00:28:42,799companies are going away from, butthe Feds are still not going away from38400:28:42,839 --> 00:28:47,039it. They're getting their pensions,and the pensions are guaranteed in sense as38500:28:47,079 --> 00:28:48,839long as the government's still going topay them, and they love them,38600:28:48,839 --> 00:28:52,480and that's how they get through retirementand it helps a lot. We've see38700:28:52,519 --> 00:28:56,839a lot of Feds that have workedfor the federal government for twenty thirty forty38800:28:56,920 --> 00:29:00,960years. They're set in retirement fromtheir pensions. Even need to touch their38900:29:00,039 --> 00:29:03,480retirement accounts a lot of the time. So you don't necessarily go to work39000:29:03,480 --> 00:29:06,599for the government to get rich,but they do take care of you to39100:29:06,640 --> 00:29:08,079the grave. They do take careof you. And so understanding how the39200:29:08,119 --> 00:29:14,440pension works with the social security youknow, there's difference with furs and csrs.39300:29:14,480 --> 00:29:18,880There's a lot of intricacies that we'vebeen able to really put ourselves into39400:29:18,920 --> 00:29:22,480the depths of knowledge on and that'swhere we're here to help. So if39500:29:22,480 --> 00:29:26,279you're a federal employee and you wantsome help understanding your benefits, how to39600:29:26,279 --> 00:29:27,759put it into financial plan, howit's going to look throughout the years,39700:29:29,039 --> 00:29:30,920give us a call. You know, I don't know if you talk about39800:29:30,920 --> 00:29:37,599the Dow rally during your monologue thatthe Dow Jones Industrial average has been lagging39900:29:37,640 --> 00:29:41,839behind the other industries. Has beenpretty much of a NAZDAC led rally.40000:29:41,240 --> 00:29:47,920And this beast two weeks, theDow Jones Industrial Average, the thirty stock40100:29:47,960 --> 00:29:52,559Dow Industrial Average has been up everysingle day, Yeah, for ten consecutive40200:29:52,640 --> 00:29:55,200days now, Yes, on Fridayit was up two points. Okay,40300:29:56,440 --> 00:30:00,359it still counts, right, Soten consecutive days higher for the and that's40400:30:00,400 --> 00:30:04,119why last week the Dow was uptwo point one percent while the NASDAC was40500:30:04,240 --> 00:30:07,559down. And that's like the onlythe first time that they've done ten in40600:30:07,559 --> 00:30:11,279a row since like twenty seventeen orseventeen. Yeah, sixty six years since40700:30:11,319 --> 00:30:15,880it's been ten up days in arow. And bank Ernie's kicked it off40800:30:15,920 --> 00:30:18,599earlier in the week. They werebetter than expected, with the exception of40900:30:18,880 --> 00:30:22,000Goldman Sachs. But in a worldwhere all news is good news, even41000:30:22,000 --> 00:30:26,119Goldman Sachs rally yeah on disappointing results, but that's what ignited the rally.41100:30:26,240 --> 00:30:33,519The bank sector coming into last weekwas unchanged on the year in this gigantic41200:30:33,640 --> 00:30:38,079rally, which tells you that therally has been very narrow. It's been41300:30:38,119 --> 00:30:42,200those magnificent seven stocks and It's goingto be real interesting to see what happens41400:30:42,279 --> 00:30:47,880next week. Late last week,Thursday and Friday, we saw a significant41500:30:47,960 --> 00:30:53,680selling in the Magnificent seven because Mondaymorning, before the open, the NAZDAC41600:30:53,839 --> 00:30:59,680is going to rebalance that index,the NASDAC one hundred for the first time,41700:31:00,240 --> 00:31:03,240excuse me, for the third timein history. It has gotten so41800:31:03,359 --> 00:31:07,359out of whack with those seven stocksjust dominating, being more than fifty percent41900:31:07,480 --> 00:31:12,039of the index, that they're gonnagonna adjust it, and that obviously that's42000:31:12,079 --> 00:31:17,359going to mean cutting back on thoseseven stocks. And if you're trying to42100:31:17,400 --> 00:31:22,359mimic the Nasdaq one hundred, you'regoing to have to sell a lot of42200:31:22,359 --> 00:31:25,279those seven stocks. Yeah, andthey were saying that Microsoft in Nvidia,42300:31:25,519 --> 00:31:26,920they think you're going to be theones that could hit it hit the hardest42400:31:27,039 --> 00:31:30,440because they've been the ones that haverun up the most, have been part42500:31:30,440 --> 00:31:33,440of the reason that we're seeing thisrally. All Right, We just see42600:31:33,839 --> 00:31:38,960Nvidio, which you could you couldargue it's probably the strongest company to invest42700:31:40,039 --> 00:31:44,519in because they've got the most desirableproduct, they have a limited supply,42800:31:45,000 --> 00:31:48,519they have unlimited demand. It justlooks like a company that is a spaceship42900:31:49,880 --> 00:31:53,599drop ten percent on Thursday and Friday, and we'll see what happens. Maybe43000:31:53,640 --> 00:31:59,440that was Maybe that was the rebalancingthat took place. Maybe not. It's43100:31:59,480 --> 00:32:01,319going to be very interesting because it'sit's unusual, Like I say, only43200:32:01,359 --> 00:32:06,880the third time in history. Thefirst time was in nineteen ninety nine when43300:32:06,880 --> 00:32:10,680the tech bubble just burst, andis we're not predicting that, but it43400:32:10,799 --> 00:32:14,880couldn't. You could see some significantselling. And if you were to get43500:32:15,799 --> 00:32:20,240in video down another ten percent downunder four hundred, that starts to look43600:32:20,279 --> 00:32:24,279really attractive. It doesn't have asky high PEPs around fifty right now,43700:32:24,480 --> 00:32:28,799which for a company growing as fastas video is pretty modest. Well,43800:32:28,799 --> 00:32:31,640the thing is, too, mydimensions in his monologue is algorithms are going43900:32:31,680 --> 00:32:35,559to start selling to the programs.Yeah, so if it hits four hundred,44000:32:35,559 --> 00:32:37,640maybe they have a sell stop lossin there right at four hundred,44100:32:37,759 --> 00:32:40,440So then it could drop lower andlower and the programs kick in at that44200:32:40,480 --> 00:32:44,400point. And one of the thingsI've learned from doing this for forty years44300:32:44,519 --> 00:32:49,079is when you expect chaos, youget nothing. So Monday may be a44400:32:49,079 --> 00:32:52,640big yawn. Yeah, but it'sgoing to be unusual. Yeah, it's44500:32:52,640 --> 00:32:54,480a good point of Dollan just broughtup, though, And I don't think44600:32:54,519 --> 00:33:00,519a lot of people really understand whatwhat he means by algorithms, because a44700:33:00,519 --> 00:33:06,000lot of traders out there are justbased off fundamental rules that are built into44800:33:06,000 --> 00:33:08,519an algorithm, and then they'll buyand sell based on just thresholds. So44900:33:08,559 --> 00:33:12,960if it hits a certain number,or if it rolls over it's fifty day45000:33:13,000 --> 00:33:19,079moving average, like there's certain indicatorswhere no matter what the fundamental analysis says45100:33:19,119 --> 00:33:22,599about the stock, it will justsell or buy based on those indicators coming45200:33:22,599 --> 00:33:25,359about. So, I mean,I'm sure you know all about the Black45300:33:25,400 --> 00:33:29,039Monday. It's kind of that's whatthey put the blame on, was all45400:33:29,039 --> 00:33:32,039those algorithms just hitting threshold after thresholdand just hitting cell sales sells. And45500:33:32,119 --> 00:33:36,079that was nineteen eighty seven, andit was relatively new. There weren't any45600:33:36,119 --> 00:33:39,519controls on it like there are now. So away it went, yeah,45700:33:39,559 --> 00:33:45,839and then the Tuesday morning the marketstruggled to open. I remember that thinking45800:33:45,920 --> 00:33:49,240this might be the end. Itmight be the end of my career.45900:33:49,759 --> 00:33:52,000Five years in, you know,this might be the end of the stock46000:33:52,039 --> 00:33:54,680market as we know it, andeven though there are controls now, it46100:33:54,720 --> 00:33:59,880does still help a lot on themomentum side of things both ways. Yeah,46200:34:00,000 --> 00:34:02,240and you're right, computers do mostof the trading up and down,46300:34:02,759 --> 00:34:07,039and that's why we've seen this hurryto get on board of the Magnificent seven46400:34:07,079 --> 00:34:09,679because you don't want to miss it. I also heard that the NAZAC one46500:34:09,840 --> 00:34:15,320hundred shouldn't have too much impacts onits pricing, but it could impact the46600:34:15,400 --> 00:34:19,320SMP a lot because of the Magnificentseven being the ones that are sold,46700:34:19,320 --> 00:34:22,119those are the ones that are thebigger weights in the SMP five hundred,46800:34:22,320 --> 00:34:24,480whereas the NAZDAC one hundred, thoseseven that are being sold, they're just46900:34:24,519 --> 00:34:28,280getting bought back on the smaller shot. And I don't understand it because the47000:34:28,400 --> 00:34:32,159SMP five hundred is not being rebounced. No ZAC one hundred is being rebuild,47100:34:32,280 --> 00:34:36,039so it shouldn't have any impact onthe smp F one hundred. Town47200:34:36,079 --> 00:34:39,039I heard the same thing on Friday. That doesn't make any sense no to47300:34:39,119 --> 00:34:43,880me. I thought about it.Whereas if the Magnificence seven gets sold off47400:34:43,920 --> 00:34:46,400and that's those are the biggest waitingin the SMP as well those bolds,47500:34:46,400 --> 00:34:50,239So it could impact the SMP thatway, I get it, okay,47600:34:50,280 --> 00:34:52,199but it seems like it would havea more significant impact on the NASTAC one47700:34:52,280 --> 00:34:57,239hundred A time will tell Monday morningbefore the open, So we're gonna know47800:34:57,440 --> 00:35:00,880right away Monday morning when we comein and look at the future, we're47900:35:00,920 --> 00:35:04,239gonna know what's going on. Andlike I said, have in forty years,48000:35:04,760 --> 00:35:07,559whether it's Y two K or whatever, when there's going to be chaos,48100:35:07,599 --> 00:35:12,320oft times there's not us. Itis fascinating to see the doos so48200:35:13,119 --> 00:35:17,199divergent from the others. Yeah,and interestingly, the dividend ETFs really haven't48300:35:17,239 --> 00:35:22,119responded. They're they're flat up oneor two percent on the year, So48400:35:22,280 --> 00:35:27,280people are still not interested in thehigh dividend stocks. They're they're wanting to48500:35:27,639 --> 00:35:31,920play the go go game. Andthe economics, we saw that retail sales48600:35:31,920 --> 00:35:35,719were up two tenths of ever percentin June, which was much less than48700:35:35,760 --> 00:35:40,519expected, and it's consistent with aslowing economy and signs of tighter credit.48800:35:40,679 --> 00:35:45,599Is what was being mentioned Dean onthat home builders they had the sentiment was48900:35:46,119 --> 00:35:51,199up for what a ninth or seventhstraight month. Things were good there.49000:35:51,440 --> 00:35:53,880All right, we'll be right back. We all appreciate you listening. We'll49100:35:53,920 --> 00:36:05,360speaking well, we'll be right back. Say it's all. Welcome back,49200:36:05,400 --> 00:36:08,480everybody. This is Dean Greenberg.This is the Money Matter Show. We49300:36:08,559 --> 00:36:13,719appreciate your listening. Remember, ifyou miss some you want more, you49400:36:13,800 --> 00:36:16,920miss a week, it's just goto a website. Okay. If you49500:36:16,960 --> 00:36:20,960go to a website and you goto where YouTube is, we have all49600:36:21,000 --> 00:36:23,440our shows on there. We haveour TV shows, we have and we49700:36:23,519 --> 00:36:28,519have all our radio show podcasts.Well, you just go to Money Matters49800:36:29,000 --> 00:36:31,440with Dean Greenberg for the podcast,and you'll also get it. We put49900:36:31,440 --> 00:36:36,320that up on Monday afternoon, right, yep, um and um you get50000:36:36,360 --> 00:36:39,000it all. Yeah, Actually cometo Sunday about noon. Yeah, Sunday.50100:36:39,599 --> 00:36:43,920I won't count on that. Butat the end of the day,50200:36:44,039 --> 00:36:45,119if you wanted to go back andsay, hey, what was he saying50300:36:45,159 --> 00:36:47,920a month ago, you know,or two months ago, you can go50400:36:49,000 --> 00:36:51,280do it. We're not always right, I'll tell you that right now,50500:36:51,719 --> 00:36:53,679but we've been pretty damn good.You're on a business where you're always right.50600:36:53,719 --> 00:36:58,639This isn't it? Yeah, itdid not end. We did the50700:36:58,639 --> 00:37:01,039best we can every day with theinformation we have on that day. Well50800:37:01,159 --> 00:37:05,599and okay, so I switching subjects. As you know, we also have50900:37:05,920 --> 00:37:10,960an estate planner and attorney in ouroffice. And Jonathan, it's always good51000:37:12,000 --> 00:37:15,039to see you. Always a pleasure. Welcome back. Love the office.51100:37:15,159 --> 00:37:17,559Yeah, very fit and well withus by the way, Oh it's nice.51200:37:17,639 --> 00:37:22,559Ye. People have been loving thebeen loving Jonathan being here. There51300:37:22,639 --> 00:37:27,199was one one yesterday I had aclient command doing totally unrelated to Jonathan,51400:37:27,239 --> 00:37:30,480and before I'm done, she's sittingto Jonathan's office. Yeah, we had51500:37:30,480 --> 00:37:31,840a conversation. She's had a littlebit of an issue. So we're trying51600:37:31,880 --> 00:37:36,159to get that squared away as cheapas possible. And see how that's how51700:37:36,239 --> 00:37:37,079it works. They told you fromthe beginning, that's how it works.51800:37:37,079 --> 00:37:39,320They come here, you're here,it's easy to bring in. You have51900:37:39,360 --> 00:37:43,760a conversation, and and they ifyou help them, they help them,52000:37:43,760 --> 00:37:46,559and they remember absolutely and if theyand if they need stuff done, then52100:37:46,639 --> 00:37:50,199remember to come back to and viceversa. I have clients come in and52200:37:50,400 --> 00:37:52,599a lot of what I do isgoing to require some money management, and52300:37:52,639 --> 00:37:54,760they can you know, they gotsomeone right around. A long time client52400:37:54,760 --> 00:37:58,719told me she went to a seminarlast week because a friend of hers wanted52500:37:58,719 --> 00:38:01,239her to go with her, andit was somebody trying to do trust.52600:38:01,719 --> 00:38:05,559She doesn't have a trust. Wehad to talking about wales and trust and52700:38:06,000 --> 00:38:07,880so you'll be seeing her soon,hopefully. You know. I love to52800:38:07,880 --> 00:38:12,719help him out. And the bestpart is he has the same philosophy.52900:38:12,760 --> 00:38:16,719We do get a value for yourmoney, all right. We're not about53000:38:16,719 --> 00:38:22,719overcharging or thinking we're better than everybodyelse. Keep the fees reasonable, keep53100:38:22,760 --> 00:38:25,440him lower it reasonable. And peoplethen walk away and say, Okay,53200:38:25,679 --> 00:38:30,000I'm happy, And it's it's funnyyou say that because the lady we're just53300:38:30,039 --> 00:38:34,079talking about, she said she hadher brother in law prepare the trust.53400:38:34,239 --> 00:38:37,599Yes, and he gave her afamily discount in another state and another state53500:38:37,880 --> 00:38:40,559more for the trust than you would. I told her, I'll give her53600:38:40,559 --> 00:38:44,639the family discount. Happy to doit. Yeah, yeah, right,53700:38:45,320 --> 00:38:47,519your family discount. But if youwant to play my rights, you're gonna53800:38:47,559 --> 00:38:52,599save money. That was unusual.Family discount was more than what you charge.53900:38:52,639 --> 00:38:55,199I couldn't believe he charged her whathe did. But you know there's54000:38:55,199 --> 00:38:59,480some attorneys that'll do that, allright. So what do we want to54100:38:59,480 --> 00:39:00,920talk about? You always have goodstuff for us, all right. Well54200:39:01,039 --> 00:39:05,320let's talk about trustees, all right. So you know, trustees I think54300:39:05,320 --> 00:39:07,760go hand in hand with you guys, And that's something that you know,54400:39:07,760 --> 00:39:09,599one of the reasons why I coordinatedwith you with uh, you know,54500:39:09,639 --> 00:39:14,559the Greenberg Financials, because you know, picking a trustee of a trust is54600:39:14,599 --> 00:39:16,920important. So it could be afamily member, it could be uh,54700:39:17,159 --> 00:39:21,679you know, your CPA, itcould be anybody who you want to be54800:39:21,679 --> 00:39:23,679because what they're going to be doingis managing the assets for the for the54900:39:23,719 --> 00:39:29,079beneficiaries. And sometimes you can justpick your sister who doesn't know anything about55000:39:29,119 --> 00:39:32,239finance, but her job is tohold those assets for an indefinite time,55100:39:32,639 --> 00:39:37,519indefinite time for the benefit of thebeneficiaries. And sometimes I tell them,55200:39:37,599 --> 00:39:39,679just find a good financial planner,give them the money. You know.55300:39:39,760 --> 00:39:43,920Let's say there's a house in thereand you have kids that are six years55400:39:43,920 --> 00:39:46,559old and they're not going to beable to take until they're twenty five.55500:39:46,639 --> 00:39:51,760We'll sell the house, take thatkit those proceeds and invest it and let55600:39:51,800 --> 00:39:54,360it grow and let it grow exponentiallyand find a good financial planner. And55700:39:54,400 --> 00:39:57,760that's why, you know, oneof the reasons why I do want to,55800:39:58,119 --> 00:40:00,119you know, work with you guys, because um, I think that55900:40:00,159 --> 00:40:06,760you guys are a great resource ifsomebody in that under that circumstance, UH56000:40:06,800 --> 00:40:09,320needs a good financial plan or atleast somebody to talk to and point them56100:40:09,320 --> 00:40:13,960in the right direction. So youknow, when you pick a trustee,56200:40:14,199 --> 00:40:16,239you don't necessarily have to, youknow, pick the CPA. You don't56300:40:16,280 --> 00:40:19,679have to pick the smartest personal world. You just need to pick somebody that56400:40:19,760 --> 00:40:22,960knows enough to go find a financialplanner. Or if they do want to56500:40:22,000 --> 00:40:25,280run out that house, they wantto get a rental real estate, UH,56600:40:25,400 --> 00:40:30,039they can define a property manager tomanage the property for the benefit of56700:40:30,079 --> 00:40:32,800the beneficiaries. I was talking togo to the client Friday afternoon, and56800:40:35,119 --> 00:40:38,840he had been made by his father. He had been made trustee of his56900:40:39,360 --> 00:40:47,519younger sister's estate her assets because thefather knew that that he's honest and he's57000:40:47,559 --> 00:40:52,119competent, you know, the twotwo things that are pretty important when you're57100:40:52,119 --> 00:40:54,800picking a trustee. And that's whyhe's trustee of the of the of her57200:40:54,920 --> 00:40:59,960state. Because the father knew thathe could trust him and that he would57300:41:00,119 --> 00:41:02,800be fair with her. And he'sintelligent, knows what he's doing, and57400:41:04,159 --> 00:41:07,480sometimes I don't even look at hisfair competent. And somebody is going to57500:41:07,559 --> 00:41:10,719do is going to follow the rules, right because that document that we prepare57600:41:10,760 --> 00:41:15,000are the rules. So probably themost importantesty is the biggest part. You57700:41:15,039 --> 00:41:19,159know, you make a good point. You don't have to be to know57800:41:19,320 --> 00:41:22,639the financial business. You need toknow somebody who does know the financial But57900:41:22,679 --> 00:41:24,920I always say, well, ifyou woke up in the morning and then58000:41:24,960 --> 00:41:29,400your tooth was killing you, yourfirst stop wouldn't be the library, right58100:41:29,639 --> 00:41:34,199right, absolutely. And trustees theirjob, they're they're held to an ethical58200:41:34,239 --> 00:41:37,400standard where they just need to prudentlyinvest the assets for the benefit of the58300:41:37,440 --> 00:41:42,119beneficiaries. And that's really, really, really important. So if I do58400:41:42,199 --> 00:41:45,280have trustees that come in and theyask me, you know, you know,58500:41:45,400 --> 00:41:47,239what should I do with these assets, I'll say, well, what58600:41:47,320 --> 00:41:51,280are the goals, what what's thewhat's the time frame and distributions? Maybe58700:41:51,280 --> 00:41:52,599it is a good idea you dospeak with a financial plan or take that58800:41:52,719 --> 00:41:57,559cash and let it grow for theirbenefit, because I, you know,58900:41:57,599 --> 00:42:00,440I kind of spit ball jokingly,but I called it the rules seventy two.59000:42:00,519 --> 00:42:04,960Right, if you put in amoney into a ten ten percent interest59100:42:05,079 --> 00:42:07,480bearing account, isn't supposed to doubleevery seven point two years? Is at59200:42:07,480 --> 00:42:10,920the rule? Or yeah, that'sthat's actually the simple rule. It's actually59300:42:12,000 --> 00:42:16,679sixty nine point nine is an easierthe rule of seventy two, which is59400:42:17,280 --> 00:42:21,119and this is interesting because most alot of people don't know this. Any59500:42:21,199 --> 00:42:23,639rate of return to your getting.If you divide that rate of return into59600:42:23,679 --> 00:42:27,639seventy two, that's how long it'lltake for it to double. There you59700:42:27,679 --> 00:42:30,719go roughly. And I tell peoplethat in their ears perk up. They59800:42:30,760 --> 00:42:31,920said, okay, you know,because a lot of clients I'll have,59900:42:32,360 --> 00:42:37,760you know, I get their financesand they'll have one hundred thousand sitting in60000:42:37,800 --> 00:42:40,159a savings account and it's just collectingdust at point zeros or one percent.60100:42:40,239 --> 00:42:43,719Why don't you take half of itand invest it? You know, find60200:42:44,079 --> 00:42:46,280find somebody that you trust to findsomebody that you know that has this has60300:42:47,000 --> 00:42:51,559your goals at the best interest inmind, and you know, let them60400:42:51,559 --> 00:42:53,159grow that money if it's just goingto sit there. Yeah, especially nowadays60500:42:53,159 --> 00:42:55,599with the Treasury is paying such agood interest rates. We've been doing a60600:42:55,599 --> 00:42:59,320lot, a lot with the treasuryladder with people that's just have a lot60700:42:59,360 --> 00:43:00,639of money in the eavings account theydon't know what to do with they're kind60800:43:00,639 --> 00:43:04,960of tired of just seeing it getpoint zero, zero one, maybe point60900:43:05,000 --> 00:43:07,519one percent of return. We talkto them and they end up doing a61000:43:07,519 --> 00:43:09,639treasury ladder and give four and ahalf five percent. There you go,61100:43:09,800 --> 00:43:14,280that's that's that's huge. You know, it's not what it used to be61200:43:14,320 --> 00:43:16,320back in the eighties when he usedto get a couple percentage points. Now61300:43:16,360 --> 00:43:20,320it's four years ago too, isit four years A couple of years ago,61400:43:20,400 --> 00:43:22,559I mean for zero, Yeah,when the race for zero in the61500:43:22,559 --> 00:43:24,440Fed. But once the Fed startedraising the races, when the treasury started61600:43:24,480 --> 00:43:28,360going up, and they went uptaking full advantage of it right now,61700:43:28,519 --> 00:43:31,760and of course the long term bondsthat dropped in value by thirty five percent61800:43:32,119 --> 00:43:37,199during the last twelve months. Ifyou had your fixed income portion of your61900:43:37,199 --> 00:43:40,960portfolio and long term bonds, whichmost people did, especially if you're in62000:43:40,960 --> 00:43:45,760a four one down twenty percent andon the stocks and you're down thirty five62100:43:45,800 --> 00:43:49,760percent on your safe money so that'sa rough year. Yeah, twenty two62200:43:49,840 --> 00:43:52,400was a very rough year for alot of people, and most of the62300:43:52,599 --> 00:43:57,400damage was done in the long termbond market. And I always look at62400:43:57,400 --> 00:43:59,960liquidity. What is a liquidity andsomething like that. So let's say they62500:44:00,039 --> 00:44:02,679do take fifty thousand, then theyneed it, right, completely liquid with62600:44:02,719 --> 00:44:06,760a treasury, if you do atreasury ladder, it's completely liquid. We62700:44:06,760 --> 00:44:09,480can sell that day. The onlything is if race are still going up,62800:44:09,559 --> 00:44:13,639your principle might be down. Likeif you buy fifty thousand dollars worth62900:44:13,679 --> 00:44:15,760of treasuries that day, if therace went up, they could be down63000:44:15,840 --> 00:44:19,119to forty five thousand dollars. Soif you need it that day, you63100:44:19,199 --> 00:44:21,519might get less. But if youhold it to maturity, you get the63200:44:21,559 --> 00:44:24,119fifty thousand dollars plus the interest back. There you go. Because they're a63300:44:24,119 --> 00:44:28,840short term and because they're treasuries,and that's right. Yeah, well,63400:44:28,880 --> 00:44:31,920and that's why also that's a bigdown. I'm just using even numbers,63500:44:31,960 --> 00:44:36,599but that also that's also why withthe savings, we don't suggest put all63600:44:36,639 --> 00:44:38,199of your savings into it. Ifyou have two hundred grand and savings,63700:44:38,440 --> 00:44:42,760take one hundred and fifty thousands tostill have fifty thousands completely liquid, so63800:44:42,800 --> 00:44:45,119this does go to maturity. Wealso ladder them one year, two year,63900:44:45,199 --> 00:44:49,800three year, so that way afterthe one after one year, I64000:44:49,800 --> 00:44:52,679mean you as you get closer,I mean, if you know you need64100:44:52,719 --> 00:44:54,599money within the year, you shouldn'tinvest it. But if you're not thinking64200:44:54,639 --> 00:44:58,159that, but saying nine months youneed it, that one year one is64300:44:58,599 --> 00:45:02,599going to be either high a lowerBikeE fraction right right, yeah, exactly64400:45:02,800 --> 00:45:08,960exactly. The treasure ladders have beenreally helpful and very desirable to people.64500:45:09,000 --> 00:45:12,719They love it. I love it. And the other one that's been good64600:45:12,760 --> 00:45:15,920for people that can look out fiveyears or three years or something, it's64700:45:15,960 --> 00:45:20,880been the Miga Yeah okay, becausethat they're getting the same interest rate but64800:45:20,960 --> 00:45:22,559they don't have to pay taxes.But it's not as liquid. And what64900:45:22,679 --> 00:45:25,960that is is a multi year guaranteedannuity for five years and his pain.65000:45:27,239 --> 00:45:30,239Last time I looked at it wasfive point two percent compounded each year,65100:45:30,360 --> 00:45:32,679which is guaranteed to you from theinsurance company. But it's not as liquid,65200:45:32,760 --> 00:45:36,719So you're right, so that islocked up, so you wouldn't want65300:45:36,719 --> 00:45:39,039to put everything in there. Essentiallyas a certificate of deposit within the conference65400:45:39,079 --> 00:45:42,679company. But you've got it forfive years. Yeah, and we're looking65500:45:42,719 --> 00:45:45,599at a plus companies that will mostlikely pay it. Right, if you65600:45:45,679 --> 00:45:49,480try to lock in a five yeartreasure, you're going to get around four65700:45:49,840 --> 00:45:52,400You're gonna get around four percent.You don't want to do migas and in65800:45:53,599 --> 00:45:58,440retirement accounts, you don't have todo them in those because you're already getting65900:45:58,480 --> 00:46:01,719a tax the food. Unless thatyou can't get a rate like that anywhere,66000:46:01,840 --> 00:46:05,000right, Unless the rate it's notmuch hiant, then it doesn't matter.66100:46:05,079 --> 00:46:06,880Yeah, you'd have to go.If you're going on five years,66200:46:06,880 --> 00:46:10,519you probably get a corporate that wouldbe in the five percent range. Honeywell,66300:46:12,039 --> 00:46:15,480Bristol Meyer, proct Gamble, somethinglike that that would get you five66400:46:15,519 --> 00:46:16,960percent. Well, if it's payingmore than everything else you can get,66500:46:17,079 --> 00:46:20,400right, then it's worth It's becauseit doesn't matter one way to the other.66600:46:20,440 --> 00:46:22,920But it's a liquidity pot. It'sit's a high rate for sure.66700:46:22,199 --> 00:46:25,280So, Jonathan, we've been bringingpeople. People have been coming in and66800:46:25,320 --> 00:46:29,079coming to you. You've been seenpeople and they've been coming to us,66900:46:28,920 --> 00:46:31,320and it's been working pretty well.Yeah, I love it's a good it's67000:46:31,320 --> 00:46:35,519a good relationship. It's a bearin working out of your house with your67100:46:35,559 --> 00:46:37,639two year old and your three yearold. Right well, yeah, absolutely67200:46:39,199 --> 00:46:43,559know. But next time you're buyingshirts, you know, appreciate one and67300:46:44,000 --> 00:46:46,559a large big you know, extralarge, no large, big fee,67400:46:46,639 --> 00:46:52,000big big. You have about hislogo shirts that they got his law firm67500:46:52,079 --> 00:46:54,800name on him? You want someof those two? I figured to put67600:46:54,840 --> 00:46:59,639Greenberg Financial Group on him. Yeah, a little sticker over top of the67700:46:59,800 --> 00:47:05,840Edward Law firm and and uh putGreenberg Financial on there. My next round,67800:47:05,880 --> 00:47:08,760I promise I'll get chief teachers forthe team. You said you said67900:47:09,039 --> 00:47:14,000the first consultation is free. Correct, And we've we've had a number of68000:47:14,039 --> 00:47:16,480clients that have taken you up onthat. Absolutely. Oh yeah, and68100:47:16,480 --> 00:47:20,840and you really just you and Isit side by side. You're just amazing68200:47:20,960 --> 00:47:24,800how how our businesses are intertwined.Yeah, yeah, Anathan, thanks again,68300:47:24,800 --> 00:47:28,840buddy. All right, we'll seeyou soon. Get your name out68400:47:28,880 --> 00:47:30,320there. They know how to getin touch with you. We'll keep going68500:47:30,360 --> 00:47:35,880forward. It's listening. I rememberif it's not here, to go to68600:47:35,880 --> 00:47:40,559a website you can get all theothers information. Uh, Podcasts and on68700:47:40,679 --> 00:47:46,199TV shows all on the Thanks We'llbe back right after the short break.68800:47:47,440 --> 00:47:57,639Say it's all welcome back everybody.This is Dan Greenberg. This is the68900:47:57,679 --> 00:48:01,159Money Mounted Show. We got Dave, Dylan, Todd and Myselfia to give69000:48:01,159 --> 00:48:06,880you all the information that you needto be able to go through the ups69100:48:06,920 --> 00:48:09,960and downs and the volatility of thesemarkets and had a plan for your future.69200:48:12,199 --> 00:48:14,599Give us a summary with so cominginto the second hour for those of69300:48:14,719 --> 00:48:17,000you just tuning in, we gota pretty good week. The Doubt led69400:48:17,039 --> 00:48:21,760everything with it was up two percent, The SMP five hundred was up point69500:48:21,840 --> 00:48:24,639seven percent, the NASDAC was downa half a percent, and then or69600:48:24,639 --> 00:48:28,000the Russell two thousand was up apercent and a half, which is a69700:48:28,039 --> 00:48:30,679small cap, and then the equalweighted SMP five hundred was up one point69800:48:30,719 --> 00:48:34,840three percent. So overall the marketdid a little better. In the SP69900:48:34,920 --> 00:48:38,000five hundred than the concentrated seven thatwe've been talking about for the last three70000:48:38,039 --> 00:48:42,800weeks. We saw rotation out ofthose on Thursday and Friday, as there's70100:48:42,920 --> 00:48:46,039a lot of concern about what's goingto happen Monday morning when they do the70200:48:46,079 --> 00:48:50,880rebalancing of the Nasdaq one hundred.Yeah, and that's why XLP, the70300:48:50,920 --> 00:48:55,119consumer staples ETF did well. OnFriday, A DVY actually rallied, VYM70400:48:55,159 --> 00:49:01,400actually rallied. Yeah, they actuallyrallied the DAL. Interestingly, despite that70500:49:02,360 --> 00:49:06,960ten day winning streak, the DALup ten days in row for the first70600:49:07,000 --> 00:49:12,280time since twenty seventeen. It's nowup six percent on the year six and70700:49:12,320 --> 00:49:15,599then attacks up thirty four. Soit has really been a one sided market70800:49:15,639 --> 00:49:19,840and it's something that that they're goingto try to get ahold of next weekend.70900:49:19,880 --> 00:49:23,000We'll see what happens. Um Chinacontinues to slow. They reported a71000:49:23,079 --> 00:49:28,639six point seven percent increase in GDP. I don't know how the heck that71100:49:28,719 --> 00:49:31,519happened. That bears no resemblance toany other number that we've been seen.71200:49:32,119 --> 00:49:36,960China's government they can pretty much justput out whatever they want. I don't71300:49:37,000 --> 00:49:39,159I just don't believe the number.They've got high unemployment, they've got COVID71400:49:39,239 --> 00:49:45,719related closures, they've got a realestate bubble, they related closures still and71500:49:45,800 --> 00:49:50,280may not hear that absolutely, andthey still got plunging exports, and they've71600:49:50,320 --> 00:49:54,679got a youth unemployment above twenty percent, and companies continue to leave their their71700:49:54,679 --> 00:49:59,440factories. They continue to move themto Indonesia, Vietnam, India, Yes,71800:49:59,559 --> 00:50:00,920and move an amount of China.Yeah, sick of them, and71900:50:00,960 --> 00:50:05,159it's it's you can they're feeling it. And on China's point, I saw72000:50:05,199 --> 00:50:08,280an article talking about gig ping sayingthat China's going to decide its own path72100:50:08,400 --> 00:50:13,360to reduce carbon emissions. We hadone of our representations, no path,72200:50:13,559 --> 00:50:15,800Well exactly, we had one ofour representations over there China try to make72300:50:15,840 --> 00:50:21,559a deal about climate change or whatever, and nothing happened about it, and72400:50:22,079 --> 00:50:25,480g went on there you know,CCTV and says, our path, our72500:50:25,519 --> 00:50:31,000method, pace and intensity to achieveour carbon neutral goal will be determined by72600:50:31,000 --> 00:50:35,000ourselves and will never be influenced byothers. Well, there you go,72700:50:35,400 --> 00:50:38,199right, that Paris accord working andwhat they're one eighth of the entire world.72800:50:38,360 --> 00:50:40,800Yeah, and then you got Indiaon the other hand, and nobody72900:50:42,119 --> 00:50:45,400any attention to at all. Andwe're the ones that's supposed to make the73000:50:45,760 --> 00:50:49,719dent in things. We're supposed toWe're supposed to live our clean lives and73100:50:49,719 --> 00:50:53,159get everything exactly spotless and make verylittle, if any difference in the global73200:50:53,559 --> 00:50:59,559a global climate, right, well, because we're only a small portion of73300:50:59,559 --> 00:51:01,239it. You know, it's allChina's fault that we have all this hot73400:51:01,280 --> 00:51:06,320summer right here in Tucson and Phoenix. Right. That's crazy, isn't it.73500:51:06,360 --> 00:51:09,320I mean I was up in PhoenixSunday and Monday of this past week.73600:51:09,360 --> 00:51:15,360I had a nephew from San Diegowhose sun plays baseball and he's sixteen73700:51:15,760 --> 00:51:17,599at a high school baseball tournament withthirty teams in it, but kind of73800:51:17,599 --> 00:51:22,119a big deal. There aren't manyplaces in the country where you can get73900:51:22,159 --> 00:51:25,519that many baseball fields in a smallgeographic area, and that, of course74000:51:25,519 --> 00:51:30,519it's because of spring training. AndI was Sunday morning at eight am,74100:51:30,599 --> 00:51:34,800I was sitting at a one hundredand two degrees a day that actually got74200:51:34,800 --> 00:51:38,320to one eighteen. Fortunately we wereout of there by ten and because of74300:51:38,400 --> 00:51:42,679the heat, they started the gameon Monday at seven am, and it74400:51:42,760 --> 00:51:46,519was still one hundred degrees at sevenam. It was just miserable, and74500:51:46,599 --> 00:51:53,119I think that God can send useither to heaven or to Phoenix. Boy,74600:51:53,239 --> 00:51:55,199it really I feel bad for him. I mean, it is just74700:51:55,320 --> 00:51:59,960beastly right now. Sunday night,I had parked a car and walking towards74800:52:00,199 --> 00:52:02,719the hotel and there was a breeze. My goodness, wasn't even refreshing.74900:52:02,840 --> 00:52:07,039No, I just brutal blow dryer. Yeah, the sun was down.75000:52:07,079 --> 00:52:08,440It was about ten o'clock at nightand the wind was blown. It was75100:52:08,440 --> 00:52:14,519still one hundred degrees and wow,this is I've lived in Arizona for fifty75200:52:14,599 --> 00:52:16,480years and this is this is asbad as I've seen it. I think75300:52:16,559 --> 00:52:22,480this is probably a record July forTucson. You know, our normal temperature75400:52:22,480 --> 00:52:24,360in July is one hundred and oneand it hasn't been one hundred and one75500:52:24,440 --> 00:52:28,199for a month. Yeah, Imean Arizona. The state broke its record75600:52:28,239 --> 00:52:31,960for most days above one ten ina row of phoenix well phoenixes and as75700:52:32,400 --> 00:52:37,280not the state phoxes in Arizona.Disgusting talent. Where you went to call75800:52:37,360 --> 00:52:39,639it phoenix is in Arizona day.I know you, I know you don't75900:52:39,679 --> 00:52:43,800got ASU education, so you don'tunderstand the phoenix is in Arizona. But76000:52:43,920 --> 00:52:49,480it is. Yeah. They Mondayof this past week it tied the record76100:52:49,559 --> 00:52:52,880for most consecutive hundred and ten degreedays, and every day since it's been76200:52:52,920 --> 00:52:55,480above one hundred and ten, SoI look on their think on their weather76300:52:55,559 --> 00:53:00,079too. It doesn't get below onehundred and ten until next Sunday, and76400:53:00,119 --> 00:53:04,360that high as one hundred and nine. It's it's it's getting national hid here76500:53:04,400 --> 00:53:07,559because it's five ten degrees cooler,is a lot better. It's getting national76600:53:07,599 --> 00:53:09,840headlines because I'm hearing about it frompeople from all over the country. Get76700:53:09,880 --> 00:53:13,679front from the East coast asking meif we're living back down here, Yeah,76800:53:13,800 --> 00:53:15,480how's life? Yeah, it reallyis something. Oil was up a76900:53:15,519 --> 00:53:20,920dollar seventy this week to seventy sevendollars. That's a three month high.77000:53:21,039 --> 00:53:23,840Gold was up four bucks to nineteensixty four. Todd that ten year two77100:53:23,920 --> 00:53:28,480year spread as back to one percent. Yeah, I saw that it had77200:53:28,480 --> 00:53:31,760gotten a little smaller than that,but last week we saw declining. The77300:53:31,760 --> 00:53:38,239widening of that spread again is indicativeof a bond market that believes the economy77400:53:38,320 --> 00:53:43,519is going to go into a slowdown. And the bond market is a reminders77500:53:43,599 --> 00:53:45,880three times as big as the stockmarket. Yeah. I think it's really77600:53:45,880 --> 00:53:50,360hard for people to picture a slowingof the economy because what people normally do77700:53:50,440 --> 00:53:52,840is they just look at the SMPfive hundred, and that's their gauge on77800:53:52,920 --> 00:53:58,039an economy everything's going great right wherewhen you really look at the economic numbers,77900:53:58,519 --> 00:54:01,519not everything's going great. It's fine, right, nothing's really bad right78000:54:01,599 --> 00:54:07,360now, but we are still seeinginflation come down, which means growth is78100:54:07,440 --> 00:54:10,440stopping. Right. I think it'sthat Goldie Locks scenario, which is which78200:54:10,519 --> 00:54:15,000is the Fed has done raising interestrates, which I don't think is true,78300:54:15,119 --> 00:54:20,159and we're going to avoid recession.Bond market says no or not.78400:54:20,639 --> 00:54:22,400I don't know who would think theFed's done raising interest rates either. They78500:54:22,480 --> 00:54:25,760keep saying they're gonna do it atleast twice. They've been very transparent,78600:54:25,800 --> 00:54:30,079haven't they, And even when saidthey paused it, but they're not gonna78700:54:30,079 --> 00:54:34,119stop. Right the last FED meeting, the expectation was that they would drop78800:54:34,159 --> 00:54:37,679interest rates a couple of times thisyear, and Paul came out and said78900:54:37,679 --> 00:54:38,880we're gonna raise them two more times. No. That would have sent the79000:54:38,920 --> 00:54:44,320market down five hundred two thousand pointssix months ago. And and then this79100:54:44,599 --> 00:54:46,239in this environment where all news asgood and as they go, oh well79200:54:46,360 --> 00:54:51,280they're almost done, they're almost done. You know, it's very optimistic market79300:54:51,400 --> 00:54:52,679right now. It is. Yeah, it's because it's running up. It's79400:54:52,800 --> 00:54:55,800not on a downtrend right now,it turns to a downtrend, and it's79500:54:55,840 --> 00:54:59,800gonna be very pessimistic. I thinkwhat the feed is really looking for now79600:54:59,880 --> 00:55:04,719is slow down in wage growth rightkey, because the labor markets so strong.79700:55:04,880 --> 00:55:07,559Inflation is coming down. But ifyou have a strong labor market,79800:55:07,000 --> 00:55:10,880you'll hit a you know, floorwhere you just can't lower it anymore until79900:55:10,880 --> 00:55:15,920people start losing their jobs. Yeah, and they're going to keep going and80000:55:15,960 --> 00:55:19,239people are going to lose their jobsbecause of this. They you get to80100:55:19,280 --> 00:55:22,400feeling that they're going to keep racingrace until some until they break something.80200:55:22,719 --> 00:55:24,840Yeah. Or inflation is two percent, like there's a goal has been since80300:55:24,840 --> 00:55:30,239the beginning. Yeah, And Ithink we may see because a big chunk80400:55:30,239 --> 00:55:35,119of the decline in inflation in Julyin June, I get the months all80500:55:35,159 --> 00:55:40,639mixed up. In June was plummeting, plummeting gasoline prices, and now gasoline80600:55:40,639 --> 00:55:45,239prices are on their way back upagain. So we may come in to80700:55:45,880 --> 00:55:52,480August and see a July inflation numberthat actually is moving up and that that80800:55:52,880 --> 00:55:54,559will not be well received. Yeah, I mean right now, the markets80900:55:54,920 --> 00:55:58,719kind of feels like a fairytale inthe sense that it's over forty five hundred,81000:55:58,719 --> 00:56:00,320which we just didn't think you wouldeven get over three hundred. So81100:56:00,639 --> 00:56:02,719I would say, right now isnot the time to just sit back and81200:56:02,760 --> 00:56:06,199be like everything's great, because yourmarket looks like it's up, because it81300:56:06,239 --> 00:56:08,519could turn quick, and it canturn down fast. So it's time to81400:56:08,519 --> 00:56:14,679look if you have any ifs orbuts about your retirement plan or anything like81500:56:14,679 --> 00:56:16,480that, it's time to look atit now. So if you can make81600:56:16,480 --> 00:56:19,559a change, or if you wantto make a change or world be profits81700:56:19,559 --> 00:56:22,599that you could probably take with themarket running up so high. But then81800:56:22,679 --> 00:56:25,480you got to make sure your risktolerance is still in line with where it81900:56:25,599 --> 00:56:29,559was last year when we were downtwenty percent, because we are one week82000:56:29,599 --> 00:56:34,480away from the worst sixty day periodfor the market every year. If to82100:56:34,519 --> 00:56:37,559sent them in flips, it kickflip quick, especially if this thing actually82200:56:37,599 --> 00:56:43,360does hit the rebalance on Monday,if it actually does have an issue to82300:56:43,480 --> 00:56:45,039the tech stocks that have been runningup, then it could turn fast.82400:56:45,079 --> 00:56:47,840It could turn down fast. Also, we have meta reporting next week.82500:56:47,880 --> 00:56:52,119The week following we'll have Apple,Apple and Amazon. When you have those82600:56:52,159 --> 00:56:57,400big names reporting earnings, that cankind of lead to a catalyst where we82700:56:57,480 --> 00:57:00,559can kind of start to see Butagain, I mean, earnings are probably82800:57:00,599 --> 00:57:04,320not going to be too bad forthose companies. Yeah right, and so82900:57:04,480 --> 00:57:07,800well those are the those are thegrowth companies, right Yeah. Um Bitcoin83000:57:08,079 --> 00:57:10,519uh Todd, you watch it closerthan I do. But it's been drifting83100:57:10,559 --> 00:57:14,840lower since that twenty five percent popat the end of It's truly just been83200:57:14,840 --> 00:57:17,559flagging the last couple of weeks sincethat pop, waiting for some news out83300:57:17,559 --> 00:57:22,280of SEC that the interest rates haveflattened out too. They I noticed the83400:57:22,360 --> 00:57:28,400ten year treasury rate was the sameof Friday as it was in before Memorial83500:57:28,519 --> 00:57:32,119Day, So it's done absolutely nothing. Um. Schwab reported better than expected83600:57:32,360 --> 00:57:37,360results that sent the stock up twelvepercent on Tuesday, and KRI, which83700:57:37,400 --> 00:57:43,679is the regional bank ETF, hadits best rally in four months. That83800:57:43,800 --> 00:57:47,199was followed by good earnings from NorthernTrust, one of the biggest and Schwab83900:57:47,320 --> 00:57:52,159interestingly has rallied off of the offof that low fifty percent. Swab's fifty84000:57:52,199 --> 00:57:57,239percent I was kind of surprised thatthey got caught up in the whole thing84100:57:57,679 --> 00:58:00,719um because that banking is a partof their operation. But certainly they're not84200:58:00,800 --> 00:58:05,880a regional bank per se, sothat would have been a good a good84300:58:05,880 --> 00:58:08,000bye then. And I looked atinto me. I tried to buy it84400:58:08,039 --> 00:58:10,360here, and I, yeah,but what if another bank goes under?84500:58:10,360 --> 00:58:15,639And you know, we try to. When you're investing other people's money,84600:58:16,199 --> 00:58:20,079you tend to be more cautious thanwith your own, which is why our84700:58:20,119 --> 00:58:24,000clients are doing much better than we'redoing. Right. We're very aggressive.84800:58:24,199 --> 00:58:29,039We are very aggressive. I gota little electric vehicle update. Seems like84900:58:29,079 --> 00:58:32,840every week I have a little somethingin the electric vehicle arena because it's very85000:58:32,880 --> 00:58:37,280popular right now. Last week Itold you guys that none of the electric85100:58:37,360 --> 00:58:42,760vehicles have a spare tire, whichmakes traveling outside of any city a little85200:58:42,760 --> 00:58:45,480bit problematic. And like I saidearlier, I spent two days in Phoenix85300:58:45,559 --> 00:58:50,199last week, where the temple isone hundred and eighteen degrees. Not surprisingly,85400:58:50,280 --> 00:58:52,639on my two hundred and fifty miletrip to and from Phoenix, I85500:58:52,639 --> 00:59:00,159actually was counting the number of lexuses, number of teslas I got the one85600:59:00,719 --> 00:59:02,880there was one. It wasn't mine, but there was one Tesla. We85700:59:02,920 --> 00:59:07,760saw one Tesla on the freeway betweenTucson and Phoenix. Between Phoenix and Tucson,85800:59:08,079 --> 00:59:13,639the two hundred fifty mile round tripone and really that's not surprising.85900:59:13,719 --> 00:59:16,519We go to LA four or fivetimes a year. I have never seen86000:59:17,280 --> 00:59:22,880a Tesla on the freeway between Phoenixand LA never, and I do it86100:59:22,920 --> 00:59:27,719four or five times a year,been doing it for years. Imagine being86200:59:27,760 --> 00:59:30,480about fourty and you want I thinkI know why. Imagine being about forty86300:59:30,519 --> 00:59:37,079miles west of HeLa bend one hundredand twenty degrees outside right, and you86400:59:37,079 --> 00:59:42,639have flat tire. Now what howlong would it take Tesla road side assistance86500:59:42,719 --> 00:59:45,840to get to you? Now youcould sit in your air conditioned car,86600:59:45,119 --> 00:59:50,119right, but then your battery wouldrun down. Now you've got two problems.86700:59:51,079 --> 00:59:55,519So I could certainly understand why peopleare reluctant to take it on the86800:59:55,559 --> 00:59:58,880road. Although I do no clientsto take it to San Diego. I86900:59:58,880 --> 01:00:00,719do no clients that I have takenit to the White Mountains. One went87001:00:00,760 --> 01:00:07,440to Albuquerque, another one went toLas Vegas in their Tesla. But you'd87101:00:07,440 --> 01:00:09,400have to have a lot of timeon your hands because you're gonna be giving87201:00:09,440 --> 01:00:14,039the superchargers, and you're gonna beat those superchargers forty five minutes to an87301:00:14,039 --> 01:00:16,440hour minimum. It's got to beso much more easy to have an electric87401:00:16,440 --> 01:00:21,960car in the East Coast. Iwould unconnected those cities. Are you know,87501:00:22,079 --> 01:00:27,039there's always a city just a yeah, yeah, I think so.87601:00:27,719 --> 01:00:30,719I will say though, that theat home, if you're going to get87701:00:30,719 --> 01:00:34,920an electric vehicle, the very firstthing you've got to do before you take87801:00:35,000 --> 01:00:37,840delivery of the vehicle is get yourat home charging set up. Because if87901:00:37,880 --> 01:00:42,800you don't have your at home chargingset up and you get the vehicle.88001:00:42,840 --> 01:00:45,559What happened to me as I wastold the delivery would be July August,88101:00:46,000 --> 01:00:52,719so I scheduled July nineteenth to havemy home charger put in. It came88201:00:52,920 --> 01:00:58,960June twenty eighth. By July nineteenth, I hated that car. I hated88301:00:59,039 --> 01:01:02,880that car with a passion. Andit's a wonderful car, but but having88401:01:02,880 --> 01:01:08,840to go to the supercharger, havingto watch your charge constantly, it was88501:01:08,920 --> 01:01:13,119so annoying, and I was sotired of it. It was just it88601:01:13,239 --> 01:01:16,679was just unbelievable. So get thatset up, get that set up ahead88701:01:16,679 --> 01:01:21,039of time. Let's talk a littlebit about electric vehicle costs, because the88801:01:21,440 --> 01:01:23,639car itself is pretty expensive, right, but there are a few other things88901:01:23,639 --> 01:01:28,360that have to go into it.In a wall charger, a wall charger89001:01:28,400 --> 01:01:31,480can be five hundred bucks, whichis one of the reasons why some people89101:01:31,519 --> 01:01:35,679have gone with portable chargers. Theylike the portable charger better. But even89201:01:35,719 --> 01:01:38,320if you have a portable charger,you're going to pay an electrician five hundred89301:01:38,360 --> 01:01:42,599to fifteen hundred bucks to come inand give you a two hundred and forty89401:01:42,679 --> 01:01:45,679volt outlet. You've got to havea two hundred forty vote outlets for the89501:01:45,719 --> 01:01:49,840electric car charger. So the firstthing you're gonna do is you're gonna spend89601:01:49,880 --> 01:01:52,760five hundred hund a charger. You'regoing to spend a round one thousand bucks89701:01:52,800 --> 01:01:57,960to get the outlet set up.Right, there's an entire industry springing up89801:01:57,960 --> 01:02:01,480around things that Elon doesn't include.We learned last week that he doesn't include89901:02:01,480 --> 01:02:06,960spare tires. Well, for fivehundred dollars, you can buy a Tesla90001:02:07,079 --> 01:02:10,280spare tire kit and this car hastwo trunks, so believe me, there's90101:02:10,280 --> 01:02:13,920a place to put it. Oh, you spend five hundred bucks. You90201:02:13,960 --> 01:02:16,800can get a test charging chord.You understand that Tesla has no longer come90301:02:16,840 --> 01:02:21,360with a charging chord. Isn't thatinteresting? Be like buying a toaster with90401:02:21,440 --> 01:02:24,320no plug or an iPhone without acharger without ant of Apple. Yeah,90501:02:25,079 --> 01:02:29,599everything imparts and you gotta buy payfifty bucks. Since when do they not90601:02:30,079 --> 01:02:35,360bring the charger in with it?They don't bring the block anymore. Oh,90701:02:35,400 --> 01:02:37,119they don't wire only they just giveyou the okay, yeah, but90801:02:37,239 --> 01:02:40,079then you got to buy the headphones. You gotta buy the case, you90901:02:40,119 --> 01:02:43,880gotta buy the screen protector. Gotno spare tire, you got no charger,91001:02:43,920 --> 01:02:45,920you got no charging chord. Allof these things are All of these91101:02:45,920 --> 01:02:51,039things are extra. On the positiveside, you're gonna save about twenty five91201:02:51,119 --> 01:02:54,519hundred dollars a year in gasoline.And here's another place you're gonna save money.91301:02:54,599 --> 01:02:59,719Turns out, the most technically advancedcar on the road, my model91401:02:59,760 --> 01:03:05,639Way, does not have the hardwareto pick up serious satellite radio. So91501:03:05,760 --> 01:03:07,400if you have a Tesla, you'renot going to be paying for serious satellite91601:03:07,440 --> 01:03:12,440radio because they can't get it.And I gonna pay for oil oil changes91701:03:12,519 --> 01:03:15,960either though, So there's some savings, no transmission change. I continue to91801:03:15,000 --> 01:03:21,760be enamored with the car. Istechnologically spectacular, it's fun to drive,91901:03:21,840 --> 01:03:27,119it's really fast, it's it's avery comfortable ride, and I think with92001:03:27,239 --> 01:03:30,880the home charger, I've resolved thecharging issue. But there are things you92101:03:30,920 --> 01:03:35,039need to know ahead of time beforeyou go down that road. Dylan,92201:03:35,559 --> 01:03:38,159Yeah, speaking of Tesla, though, they their profit margins drop allow ten92301:03:38,159 --> 01:03:42,440percent for the first time since twentytwenty one. That's why they're stock dropping92401:03:42,440 --> 01:03:47,000the Reporter Ernis last week. They'remaking each car cheaper and that's cutting into92501:03:47,039 --> 01:03:50,320their profits, but they have tomake them cheer. They have because of92601:03:50,360 --> 01:03:53,000the competition exactly, and it's funnybecause they're kind of eating each other alive.92701:03:53,039 --> 01:03:59,239A four dropped the F one fiftyLightning by ten thousand dollars. I92801:03:59,280 --> 01:04:02,119mean, that's just what petition does, exactly, especially for Tesla because they92901:04:02,159 --> 01:04:06,559have a lot more inventory um thanthan the other ev makers because they've been93001:04:06,559 --> 01:04:11,119doing it for longer. So they'ssecond quarter twenty two, Tesla's operating profit93101:04:11,119 --> 01:04:14,840margin was fifteen percent. This yearof the second quarter was nine percent.93201:04:15,239 --> 01:04:17,320Right, that just comes from them, said He'll cut prices further for he93301:04:17,320 --> 01:04:21,000has to to keep his market share. But we know that what was there93401:04:21,039 --> 01:04:25,199was a certain price where you don'tget the credit. Yes, yeah,93501:04:25,239 --> 01:04:28,440and I'm not I'm not sure exactlywhat it is, but I know they93601:04:28,559 --> 01:04:32,360cut the price of a couple ofthe models. Maybe it's fifty thousand below93701:04:32,480 --> 01:04:36,039fifty thousand, so they didn't geta hunt the seventy five tack credit,93801:04:36,199 --> 01:04:41,000so price went back up. Sothere's a there's a limit to how far93901:04:41,039 --> 01:04:45,920down they It's it's it's funny tohear Ford cutting prices because Ford's biggest problem94001:04:46,000 --> 01:04:50,159is delivery. It's producing enough cars. They may be the only car company94101:04:50,159 --> 01:04:55,000out there, they electric car companyout there. They can't make enough cars94201:04:55,599 --> 01:05:00,239to meet demand. And the stocksbeen been dropping pretty steadily over the last94301:05:00,280 --> 01:05:05,760few days. Unconcerned about that.Maybe this is their employ to get more94401:05:05,800 --> 01:05:11,679market share. They already have thedemand for dropping the price. They already94501:05:11,679 --> 01:05:14,480have the demand there because like yousaid, they're having production issues in the94601:05:14,480 --> 01:05:16,199sense of how fast they can doit, but they're trying to up it.94701:05:16,199 --> 01:05:18,559They're trying to increase it more toget with Tesla in the market share.94801:05:19,039 --> 01:05:21,960I get dollars. Yeah, butif at the same time, I94901:05:21,960 --> 01:05:27,000don't. You can get a Teslain two or three weeks, and the95001:05:27,079 --> 01:05:30,920Ford Moki, the little most dyingorder, the Lightning pick up, you're95101:05:30,960 --> 01:05:35,119talking three to twelve months. Yeah, it's just if you're wanting an electric95201:05:35,199 --> 01:05:40,440if you got the electric car bug, you're not gonna wait three to twelve95301:05:40,480 --> 01:05:43,039months to get a car. You'regonna say, well, wait a second,95401:05:43,079 --> 01:05:46,400I can go over there and getone of those a Tesla people that95501:05:46,440 --> 01:05:51,119have been doing this for a decade. I can get one now, or95601:05:51,159 --> 01:05:54,880I can wait six to twelve monthsfor somebody that's kind of the new kid95701:05:54,920 --> 01:05:58,760on the block. Right. Oh, doesn't make sense, But again I95801:05:58,800 --> 01:06:02,880really think I don't know if fourcan do their their recalls online the way95901:06:02,920 --> 01:06:09,559Tesla could either. The things thatTesla can do online is amazing, incredible.96001:06:09,639 --> 01:06:15,679Yeah, again, get a chargingstation installed before you get the car,96101:06:15,719 --> 01:06:18,559and I think you'll have a reallygood experience. You know, there's96201:06:18,599 --> 01:06:23,480something that came across my docket thatI um, you know, it was96301:06:23,480 --> 01:06:27,039on the Secure two point zero Actthat was passed last year, and I96401:06:27,039 --> 01:06:32,119didn't really fully comprehend what was goingon here. But four four one ks96501:06:32,119 --> 01:06:36,199there is going to be a changestarting in twenty twenty four. Individuals know96601:06:36,280 --> 01:06:41,199that when they reach age fifty,you reached a ketchup provision, which means96701:06:41,199 --> 01:06:45,360you can increase your contribution to yourfour one K by seven thousand, five96801:06:45,440 --> 01:06:49,119hundred dollars right on top of yournormal contribution limit. But in twenty twenty96901:06:49,119 --> 01:06:53,400four, if the taxpayer has anincome of at least one hundred and forty97001:06:53,400 --> 01:06:58,760five thousand per year, the ketchupcontribution can no longer be put into the97101:06:58,840 --> 01:07:01,159pre tax four on one. Itwill have to be treated as a ROTH97201:07:01,239 --> 01:07:05,159contribution and grow after tax. Wow. The issue with that, though,97301:07:05,280 --> 01:07:10,239is the company's plan has to offerthe ROTH four own k aspect. If97401:07:10,239 --> 01:07:13,320they don't, then that person isjust out of luck. They can't contribute97501:07:13,320 --> 01:07:18,119another seventy five hundred dollars to anything. Wow. So very interesting. And97601:07:18,159 --> 01:07:23,239in twenty twenty five they couldn't evendo a broth no if the company's plans97701:07:23,239 --> 01:07:27,159because some company plans still don't offerthe ROTH four own k option. If97801:07:27,159 --> 01:07:29,920they don't offer that, then theperson, if they make over one forty97901:07:29,920 --> 01:07:33,480five, they cannot contribute seventy fivedollars to anywhere they just get why would98001:07:33,519 --> 01:07:39,639they do? That's good encouraging companiesto offer the four own k roth can98101:07:39,679 --> 01:07:41,559you Well, you gotta see ifyou go, Dan, I don't think98201:07:41,559 --> 01:07:45,039we have it, do we?Uh No, it's something you can you98301:07:45,039 --> 01:07:48,840can normally add pretty easily. It'sit's a lot more available now in today's98401:07:48,920 --> 01:07:54,559four own case popular. Um.But yeah, so obviously I arrest is98501:07:54,599 --> 01:07:59,239thinking they don't want to defer incometax income anymore, so they would rather98601:07:59,599 --> 01:08:02,320you contribute after tax instead of pretax on that ketchup provision. Well they98701:08:02,320 --> 01:08:04,639have to do is just open upthe walth I away and say there's no98801:08:04,719 --> 01:08:09,639limit to it then, which wouldjust be just as good. You know.98901:08:09,719 --> 01:08:12,360Well then a lot of people wouldbe really happy if that was the99001:08:12,400 --> 01:08:15,920case, for sure, because rothIRA's a really good play with no limit.99101:08:15,000 --> 01:08:17,119Yeah. I don't think I RUSwill ever increase that too much.99201:08:17,159 --> 01:08:20,880Oh no, No, for theseventy five hundred, he said no limit,99301:08:21,039 --> 01:08:24,800so you can contribute to sixty fivehundred, and then on top of99401:08:24,840 --> 01:08:29,079it, the seventy five What you'resaying, Yeah, what I'm saying is99501:08:29,720 --> 01:08:31,920a lot you can't maybe do sixtyfive hundred if you're a certain level.99601:08:31,960 --> 01:08:35,000But if you if you don't havea walthay where you're to catch up,99701:08:35,720 --> 01:08:38,920you're able to put it. Youcan't able to put a catch up in99801:08:38,960 --> 01:08:42,600a regular walthi away. That's allas of now, you cannot. Matter99901:08:42,640 --> 01:08:45,119what how much money you make,as of now, you cannot. They100001:08:45,119 --> 01:08:47,319said, you're out of luck ifthey don't have a roth full of course,100101:08:47,720 --> 01:08:51,159but there is a new special catchupprovision that's starting in twenty twenty five.100201:08:51,279 --> 01:08:54,800So we'll talk about this more.So when was the other one?100301:08:55,279 --> 01:08:59,159This is in twenty twenty four,starting next year. Oh man, Yeah,100401:08:59,199 --> 01:09:01,720for twenty twenty five, if you'rebetween the ages of sixty and sixty100501:09:01,760 --> 01:09:06,880three, your contribution limit, yourcatch up contribution will be equal to either100601:09:06,960 --> 01:09:11,279the greater of ten thousand dollars orone hundred and fifty percent of the standard100701:09:11,359 --> 01:09:15,439catch up contribution limit for twenty twentyfour, and that ten thousand dollars limit100801:09:15,479 --> 01:09:18,119will be indexed for inflation. Sothey're trying to help sixty to sixty three100901:09:18,159 --> 01:09:21,680year olds put more money in theirretirement. Um, if you know,101001:09:21,800 --> 01:09:26,479catching up, who comes up withthis stuff? The high rise and the101101:09:26,640 --> 01:09:29,079dates and stuff. You know whatI'm saying, Well, why is a101201:09:29,159 --> 01:09:31,479sixty five year old who's working morenot wanting to put more money away?101301:09:31,520 --> 01:09:35,279And what made them choose one hundredforty five thousand. Well that's the that's101401:09:35,319 --> 01:09:40,119the roth limit. Yeah, butwhy the previous limit. That's what I'm101501:09:40,119 --> 01:09:44,319saying. It's it's it's probably it'sprobably based on you know, they know101601:09:44,880 --> 01:09:49,560the average just so they know whattaxing on the money you get then you101701:09:49,680 --> 01:09:53,000then you put then then you haveto invest it, and then you getting101801:09:53,000 --> 01:09:55,159taxed on that wo you put inthe row with you're not getting taxed on101901:09:55,199 --> 01:09:59,720it. So when they say thatnot wasting taxes, that will all wasting102001:09:59,760 --> 01:10:02,000tax Oh yeah, oh yeah,hey what that was up in When I102101:10:02,039 --> 01:10:05,159was up in Phoenix, I sawthe waymo uh you familiar with that,102201:10:05,239 --> 01:10:09,920the weaymo one. Oh yeah,yeah, that's pretty that's pretty pretty incredible.102301:10:10,039 --> 01:10:17,960That thing is waymouh one became thefirst uh autonomous driving taxicab company for102401:10:18,039 --> 01:10:21,880profit taxicab company in the world,and they've got them all over Phoenix and102501:10:21,920 --> 01:10:27,159there are people that actually get inthose things without a driver. Yeah.102601:10:27,520 --> 01:10:30,199Well, the gizmos on those thingsare just like I don't even know what102701:10:30,239 --> 01:10:32,000they are. You know, theyhave all those like, yeah, turbines102801:10:32,079 --> 01:10:35,560and then all these cameras. Peopleone came to the one came to the102901:10:35,640 --> 01:10:39,800phone. So you're when you registeron the phone and the phone comes,103001:10:39,800 --> 01:10:42,600it's connected. Like, why didn'tyou guys do that? Left you up103101:10:42,600 --> 01:10:46,800there because we're fine with ubers.I don't have the Waymo app on my103201:10:46,840 --> 01:10:48,960phone. I don't. I don'tthink I could get in the backstreet of103301:10:48,960 --> 01:10:51,479a car with no driver. OhI could care less about that. No,103401:10:51,680 --> 01:10:55,000this generation, I don't think we'llcare about that. Yeah, well103501:10:55,079 --> 01:10:59,920you got to lose, you know. Yeah, you know, at the103601:11:00,640 --> 01:11:03,479end of the day, what you'renot doing is worried about the Uber driver103701:11:03,520 --> 01:11:06,479that wants to kill you. Exact. Go, there's gonna be a day103801:11:06,479 --> 01:11:10,000where it's gonna be mandated that youhave to have a self driving car.103901:11:10,039 --> 01:11:11,800I mean, if you think abouttwenty years, it's going to be the104001:11:11,840 --> 01:11:17,000part where humans are such bad driverscompared to the autonomous drivers that we can't104101:11:17,000 --> 01:11:21,239allow humans to drive. You canonly drive on a racetracker. Yeah,104201:11:21,279 --> 01:11:26,520it's amazing how everything that I watchedas a kid on the Jetsons and Dick104301:11:26,560 --> 01:11:30,359Tracy all coming through. There's muchlater than what they expected. I don't104401:11:30,520 --> 01:11:32,239know what to expect. I don'tthink I remember watching the jets and goal104501:11:32,319 --> 01:11:35,319this is gonna happen in such andsuch time, right, you know,104601:11:35,439 --> 01:11:39,239But now it's all coming through.Remember the Jetsons. You have to watch104701:11:39,279 --> 01:11:42,039it. Of course, did youwatch the Jetsons? No, the mind's104801:11:42,079 --> 01:11:44,640back to the future. You haveto go watch the Jetsons. Okay,104901:11:44,720 --> 01:11:47,600now go find it somehow and watchit and go, oh my god,105001:11:47,720 --> 01:11:51,520look at all these things in nineteensixty that they were talking about. They105101:11:51,560 --> 01:11:57,359were talking about telephones that you seepeople, okay, computers that you see105201:11:57,399 --> 01:12:02,119people flying cause what else? Robotsfor maids. Yeah? Um, you105301:12:02,159 --> 01:12:05,920know what's another really good book thatpredicted the future? Nineteen eighty four?105401:12:09,079 --> 01:12:13,720Nineteen eighty four. Back it's theMoney Mattie Show. We got two more105501:12:13,760 --> 01:12:17,800segments left. I hope that youI'm enjoying it. Thank you say,105601:12:17,880 --> 01:12:32,520it's all welcome back. You're listeningto The Money Matter Show. I am105701:12:32,600 --> 01:12:35,920Dylan Greenberg. I'm here with thisSherwood, Todd Glick, and Dean Greenberg.105801:12:36,479 --> 01:12:41,439I got a fun fact what's afun factor of facts? And actually,105901:12:41,439 --> 01:12:44,159I've got I've got to give creditto Judge Judy because you know,106001:12:44,239 --> 01:12:46,600if I like, one of myfavorite things that nightties to go home after106101:12:46,600 --> 01:12:50,399I've had stopper, sit down onthe couch and just there's four Judge Judy's106201:12:50,720 --> 01:12:54,800record during the day, I grabone of them and just watch it.106301:12:54,560 --> 01:12:58,760It seems like everybody on there thatis involved in the traffic accident is because106401:12:58,960 --> 01:13:03,039they're uninsured. So it got meto thinking, we're supposed to have insurance106501:13:03,279 --> 01:13:11,159by law. Correct, So whatstates would be the states without the largest106601:13:11,199 --> 01:13:15,920amount with the largest number of uninsuredmotorists. A little little research, California106701:13:16,039 --> 01:13:19,520you would think, huh but orMississippi. Okay, there you go,106801:13:19,520 --> 01:13:24,479good job, Todd number one.How do you know education is the worst106901:13:24,520 --> 01:13:27,600there? No, No, Iliterally guess this because they have the worst107001:13:27,680 --> 01:13:30,199education system they do. Growing upin South Dakota, we loved in Mississippi107101:13:30,199 --> 01:13:33,800because we were forty nine and everything, and we're forty eight Arizona. So107201:13:35,560 --> 01:13:40,760No. Number one is Mississippi.Todd twenty nine point four two louisianaan we're107301:13:40,760 --> 01:13:45,920talking about the states with the highestnumber of uninsured motorists. Yeah, and107401:13:45,960 --> 01:13:51,319mississippis number one with twenty nine pointfour Number two shocking Michigan twenty five percent.107501:13:51,359 --> 01:13:56,880Then Tennessee, New Mexico, andWashington states with the fewest number of107601:13:56,880 --> 01:14:00,840insured motors. This be of placeswhere you want to drive New Jersey,107701:14:00,640 --> 01:14:03,359New Jersey. Now, why wouldyou say New York because there's not a107801:14:03,359 --> 01:14:06,039lot of drivers there. So thepeople that do have it probably have insurance107901:14:06,039 --> 01:14:10,000because they drive close to each otherlots they're gonna get hit. Yeah.108001:14:10,000 --> 01:14:14,640New York is number three, andonly four percent of drivers are uninsured in108101:14:14,680 --> 01:14:16,239New York. And then any ofthem are also drivers, like they drive108201:14:16,279 --> 01:14:19,479people around taxi drivers. That's interestingbecause I looked at New York and act108301:14:19,560 --> 01:14:24,439they got more people than anybody havepersonal drivers. There must be laws there108401:14:24,439 --> 01:14:27,439that are more strict than our laws. Anyway, Arizona is right in the108501:14:27,479 --> 01:14:30,199middle, eleven point eight percent uninsured, right in the right, in the108601:14:30,239 --> 01:14:32,600middle of the back. Yeah,I though it was kind of interesting.108701:14:32,840 --> 01:14:36,399Oh, don't drive around Mississippi,but do drive around New Jersey. You108801:14:36,399 --> 01:14:39,520know, there's been a lot oftalk. I've heard a lot of talk108901:14:39,560 --> 01:14:44,760about this New fed Now yep,right. It is not a new central109001:14:44,760 --> 01:14:47,159bank digital currency. I heard alot of people talking about is there a109101:14:47,199 --> 01:14:50,279central bank digital currency getting passed thisweek? No, it's not. It's109201:14:50,319 --> 01:14:56,920this service fed now, which basicallyis a federal Zell as simply as I109301:14:56,960 --> 01:15:00,760can put that. If you've usedZell, yeah it is. Yeah.109401:15:00,800 --> 01:15:05,119So Zell is essentially if I needto pay Dave for you know, he109501:15:05,199 --> 01:15:09,319picked up my lunch, I needto send him ten bucks m. Normally109601:15:09,399 --> 01:15:12,359it took two or three days forthat the process. If I wanted to109701:15:12,399 --> 01:15:15,279send that to you on a bankwith Zell and with ACHK abilities, I109801:15:15,279 --> 01:15:20,039can send that to you in asingle transaction settled this week. On Wednesday,109901:15:20,079 --> 01:15:24,720the guy came in and installed myelectric my charger from my car.110001:15:25,520 --> 01:15:29,079That afternoon, he texted me thebill and I zelled him the money.110101:15:29,079 --> 01:15:31,840It was in his bank within minutes, right, And that helps both parties.110201:15:31,960 --> 01:15:34,960Right. When the settlement is instant, you don't have to worry about110301:15:35,000 --> 01:15:40,319liabilities or obligations for two or threedays. You can use that money instantly110401:15:40,479 --> 01:15:45,039to turn over and get new productsor buy new services. So Zell has110501:15:45,079 --> 01:15:47,439been very popular and almost all bankshave Zell now and it's you know,110601:15:47,479 --> 01:15:50,880all it is you go into yourbank app and the bank has already connected110701:15:50,920 --> 01:15:54,279to zell and you can send moneyout that way. It's tied to your110801:15:54,279 --> 01:15:57,119cell phone and if you know somebody'scell phone number, you can you can110901:15:57,159 --> 01:16:00,199stall the number. Yeah, emailaddress. Now, this now is trying111001:16:00,199 --> 01:16:05,399to take no I guess be acompetitor to zell Um. And Federal Reserve111101:16:05,960 --> 01:16:10,359is the one that created it.And it's it's not just for individuals,111201:16:10,399 --> 01:16:15,560it's also for institutions. And thisshould help in theory a lot of UM111301:16:15,000 --> 01:16:20,000obligations that kind of caused some issuesin two thousand and eight when instant settlement111401:16:20,119 --> 01:16:26,039wasn't really available because of the traditionalsystems UM. You won't have same liquidity111501:16:26,079 --> 01:16:31,760problems theoretically if you did have thisservice available to big institutions and stuff,111601:16:31,760 --> 01:16:34,720that it will be instant, right. Yeah. The one thing I didn't111701:16:34,720 --> 01:16:38,920like about FED now, which theyannounced months ago when they first started talking111801:16:38,920 --> 01:16:41,399about it, was that one oftheir reasons as to why it's going to111901:16:41,439 --> 01:16:45,479be good is that stimulus checks canget to your bank faster for you what112001:16:45,199 --> 01:16:47,640stimulus checks. That was one oftheir reasons. In fact, when the112101:16:47,720 --> 01:16:50,920first announce that they said stimulus checkswill get to your bank faster. Didn't112201:16:50,960 --> 01:16:55,520like that, didn't like what theywere insinuating. I hope that doesn't go112301:16:55,560 --> 01:16:58,479down that back. But thing Ithought was bad about it, Correct me112401:16:58,479 --> 01:17:01,279if I'm wrong. I have sentin zell money via zel to all kinds112501:17:01,319 --> 01:17:06,079of people. I've never sent itto a business. Is it possible to112601:17:06,279 --> 01:17:10,960zell a business? Well, forexample, that person that you that you112701:17:11,079 --> 01:17:14,560zelled for your electric charger, he'stechnically a business, well he is,112801:17:14,560 --> 01:17:16,199but he's an electrician with it forthe cell phone. And so there I'm112901:17:16,199 --> 01:17:20,199talking about, let's say an airconditioning company. I think a good good113001:17:20,199 --> 01:17:23,600idea is like if you had acar payment, for example, and you113101:17:23,680 --> 01:17:27,600needed to pay your car another yourcar bill and say it's it's um doe113201:17:27,640 --> 01:17:30,079the next day, or you havea late fee and it's ten pm that113301:17:30,199 --> 01:17:32,520night. If you try to hityou know, pay my bill, it's113401:17:32,520 --> 01:17:34,560not going to show up till thenext day, so you're still going to113501:17:34,640 --> 01:17:39,039incurre that late fee. If thisfed now service is available, you would113601:17:39,079 --> 01:17:42,319be able to settle same day,even if it's at eleven pm at night.113701:17:42,640 --> 01:17:45,840The bank will get it before twelvepm, they'll settle it and you'll113801:17:45,880 --> 01:17:48,239not occur a late fee, Soit enables instant settlement a lot quicker.113901:17:48,319 --> 01:17:51,239And this is what everybody started tothink of it. We're going to digital114001:17:51,239 --> 01:17:55,159currency, sate Dave. You know, this is the biggest feel on the114101:17:55,199 --> 01:17:58,920twenty ninth of July. We're goingto digital co No, this is what114201:17:58,960 --> 01:18:01,640they're talking about. Yes, it'sa digital yes, but it's no different114301:18:01,680 --> 01:18:06,439than what we've done with everything else. Eventually, will we be cashless society?114401:18:06,640 --> 01:18:11,359I think so? All right toa point, is that good bad?114501:18:11,479 --> 01:18:15,279I don't know, because well,these things ninety percent of everybody's transactions114601:18:15,319 --> 01:18:16,960go through there. I was inQT the other day and you know,114701:18:17,239 --> 01:18:20,119if you've been in QT, theytake them on both sides of the register.114801:18:20,600 --> 01:18:28,680They're very efficient there. And bothof the people were paying cash in114901:18:28,720 --> 01:18:30,840front of me, and I gotup to the guy and I said,115001:18:30,439 --> 01:18:33,319boy, two people with cash?Who who knew that? And he goes,115101:18:33,399 --> 01:18:38,760yeah's pretty weird. So cash reallyis becoming a thing of the past115201:18:38,800 --> 01:18:42,680already. There is an issue withFED now being able to have eyes on115301:18:42,680 --> 01:18:46,680all these transactions, right, becausethere is always that concern of surveillance,115401:18:46,760 --> 01:18:49,800extra surveillance, and right now,Zel is the intermitter area on a lot115501:18:49,840 --> 01:18:54,760of these transactions, and they're privateorganizations, well, Apple, Zel,115601:18:55,039 --> 01:18:57,800everybody else. If the government comesto them they need something, they have115701:18:57,840 --> 01:19:00,279to Yeah, if they subpoena,you have to give over these records jumped115801:19:00,279 --> 01:19:01,920through some hoops. Yeah, nowis just straight to the government, of115901:19:01,920 --> 01:19:05,000course. Yeah. The one thingabout the FED now it sounds like it's116001:19:05,000 --> 01:19:10,439taking ZELL to another level, right, Yeah, because it's going to be116101:19:10,439 --> 01:19:14,239available for banks, credit unions,households, businesses. They have to be116201:19:14,319 --> 01:19:16,319willing to accept it. However,well, you have to sign up for116301:19:16,439 --> 01:19:19,560see how the acceptance goes. Yousaid, what sixteen banks have adopted it116401:19:19,680 --> 01:19:24,760so far? Have they? Twobig banks? Have? I forgot who116501:19:24,800 --> 01:19:29,039the other one was, Chase oneof the two. Yeah, well,116601:19:29,039 --> 01:19:31,640I'm sure Chase is one of thefirst ones to adopt it. I'm when116701:19:31,640 --> 01:19:35,880I go to White send money tothe electrician, for instance, when I116801:19:35,920 --> 01:19:39,960go to my Bank of America app, there's three choices of how I can116901:19:39,960 --> 01:19:43,199send it. I guess a fourthchoice will pop up now, right,117001:19:43,319 --> 01:19:46,600Yeah, Well, we won't honestly, we won't like checks anymore. Checks117101:19:46,640 --> 01:19:51,439our thing in the past, youknow. No, But but some businesses,117201:19:51,520 --> 01:19:54,760doctors and stuff, they send itto you either can put it on117301:19:54,760 --> 01:19:58,600a credit card or you can oryou can send them a uh uh,117401:19:58,840 --> 01:20:00,199you know, a check. Andnow it's and there's the thirsty gonna be117501:20:00,199 --> 01:20:04,680a third option now setting up andsetting up Ah, one of the requirements117601:20:04,840 --> 01:20:09,920is avoided check from the bank youwant set up. Getting those anymore is117701:20:09,920 --> 01:20:13,039almost impossible, Yeah, because peoplejust don't write checks anymore. Now you117801:20:13,079 --> 01:20:15,439have to get a direct deposit form. Well, but yeah, there's a117901:20:15,439 --> 01:20:18,720form on the web, on thewebsite that is designed for this because they118001:20:18,800 --> 01:20:24,239understand that people don't have checks anymore. I don't write five checks a year,118101:20:24,680 --> 01:20:27,640right, it's just the thing ofthe past. Yeah, it really118201:20:27,760 --> 01:20:30,239is. And as as is change. When's the last time you had dealt118301:20:30,279 --> 01:20:33,920with change? When the last timehe gave worth a change in a bucket118401:20:33,920 --> 01:20:36,199at my house that I never Yeah? Yeah, right, when's the last118501:20:36,199 --> 01:20:41,840time you paid someone the exact rightamount? Right with pennies and knickles and118601:20:41,920 --> 01:20:45,159dimes? And yeah, checks reallyworth it for Zell if you think about118701:20:45,159 --> 01:20:47,319it, right, it's just areally slow Zell because it's not anything.118801:20:47,359 --> 01:20:51,439A check isn't worth any example,right, All it is is a digital118901:20:51,439 --> 01:20:55,960receipt showing that this is gonna Yeah, well, I guess you can bounce.119001:20:56,800 --> 01:21:00,000I've had checks bounce fifteen twenty dayslater for somehow, some way,119101:21:00,039 --> 01:21:03,159I don't know how, right,Yeah, not mine, people sending me119201:21:03,239 --> 01:21:05,560checks. Well, that's what peopleneed to understand, is like we are119301:21:05,600 --> 01:21:10,800evolving in all areas, right,and currency evolves, technology evolves, and119401:21:10,840 --> 01:21:14,760so we went from checks to nowZell to now the Fed. Now the119501:21:14,840 --> 01:21:16,800younger generation is going to go cashless. They all that now, they don't119601:21:16,840 --> 01:21:18,840care, they don't think about allthat other stuff. But Dean, you119701:21:18,880 --> 01:21:24,399and I are pretty much cashless.Yeah, I don't. I'm I'm seventy119801:21:24,439 --> 01:21:27,319three. I don't use You useyour Apple wallet all the time, my119901:21:27,359 --> 01:21:29,640Apple. Yeah, And I don'teven use a credit card. I use120001:21:29,720 --> 01:21:32,760my my cell phone. Well,because you don't travel. If you traveled,120101:21:32,800 --> 01:21:36,000you would use your credit card forpoints. No, I get points120201:21:36,000 --> 01:21:40,159on my on my iPhone. Yeah'scredit card is in his iPhone. All120301:21:40,199 --> 01:21:43,520he has to do is out ofmy pocket. You have a credit card,120401:21:43,520 --> 01:21:45,479but you put it on your iPhoneand you just tap it on the120501:21:45,760 --> 01:21:47,680it's tied down my iPhone. Ijust have a physical credit card. I120601:21:47,720 --> 01:21:51,279don't have to have the physical cardright on credit card. I've got the120701:21:51,760 --> 01:21:56,720my key that opens my teslass.It's now a credit card. There you120801:21:56,760 --> 01:21:59,279go, where's that. Losing yourphone is the worst thing in the world,120901:21:59,319 --> 01:22:01,199Then it's worse than losing your wallet, because you could just cancel all121001:22:01,199 --> 01:22:04,039your credit cards on your wallet.Winter Haven last year, I've told this121101:22:04,119 --> 01:22:08,760on the Shrouble Far was that winterHaven last December. I lost my money121201:22:08,760 --> 01:22:12,680clip, two hundred dollars, mycredit card, my driver's license, and121301:22:12,760 --> 01:22:15,439I was telling the people. Iwas what, I've lost my money clip,121401:22:15,439 --> 01:22:16,640and they go, well, thankgod it wasn't your cell phone.121501:22:16,960 --> 01:22:19,720Yeah, that's the world we livein. I lost two hundred bucks my121601:22:19,760 --> 01:22:23,000driver's license to my credit card,and they're going, thank god, it121701:22:23,039 --> 01:22:25,800wasn't yourself. If you didn't havethat cash, you wouldn't lost anything.121801:22:25,800 --> 01:22:28,359You just froze all your cards,but you would have been out twenty five121901:22:28,359 --> 01:22:30,920bucks for new driver's license. Butmy response to them was, yeah,122001:22:30,920 --> 01:22:35,479that's true. Yeah, the cellphone is more important to us than anything.122101:22:35,960 --> 01:22:39,640And I remember when Steve Jobs stoodup in front of us twelve years122201:22:39,680 --> 01:22:44,319ago and started talking about twelve yearsago. Huh, now that's fifteen years122301:22:44,359 --> 01:22:48,279now, fifteen years sixteen years Ohyeah, it was sixteen sixteen years now.122401:22:48,279 --> 01:22:50,359Actually I remember I'm a standing infront of they're talking about and I'm122501:22:50,399 --> 01:22:53,880thinking, what are you an idiot? It's a phone. Yeah, I122601:22:53,920 --> 01:22:57,920saw the one of the original iPhonesis sold for a record in auction one122701:22:58,000 --> 01:23:00,600hundred ninety thousand dollars. Was thatnine. I'm sitting there watching this thing,122801:23:00,640 --> 01:23:02,840going, what are you? Whatare you talking about? It's a122901:23:02,960 --> 01:23:06,319phone? Just to have the visionthat we would keep making money because we're123001:23:06,319 --> 01:23:11,239gonna keep out more and more version. We'll have twenty thirty versions eventually.123101:23:11,960 --> 01:23:14,279Yeah, well people aren't going todo it. Why would they just say123201:23:14,319 --> 01:23:15,399with the one phone? You know, you have a phone at home,123301:23:15,479 --> 01:23:18,319at your home on the wall,you kept it forever. Well, then123401:23:18,479 --> 01:23:23,119then you your your memory gets fulland they have to pay for more memory.123501:23:23,199 --> 01:23:25,800Right. Well, he's just soahead of his time, that is.123601:23:25,960 --> 01:23:28,279I mean, if you don't haveit, because we used to go123701:23:28,359 --> 01:23:31,479remember everyone's phone numbers, right,but I mean you don't even your data,123801:23:31,680 --> 01:23:33,920you don't even know anyone's phone.I'll get this thing, says your123901:23:34,000 --> 01:23:36,640dad is about Yeah, you gotit. For another dollar, you can124001:23:36,680 --> 01:23:41,359buy an act. Okay, fine, I have no idea what that is124101:23:41,399 --> 01:23:45,159even but we all remember the BlackBerrydominated the market and Steve Jobs knew.124201:23:45,279 --> 01:23:49,600He said, the reason this isn'tgonna work is that the keypad. I124301:23:49,680 --> 01:23:54,359know that the system needs to beas simple as possible. It needs to124401:23:54,399 --> 01:23:57,680be touched lest you know. Andthat's it. No stylists, no extra124501:23:57,680 --> 01:24:02,720strangle hold on the shell phone marketstranglehold. There was a series that just124601:24:02,720 --> 01:24:05,640came out about Blacky greateful even.First of all, I mean it was124701:24:05,720 --> 01:24:10,159everybody out a BlackBerry and it wascool because I have the whole keyboard.124801:24:10,239 --> 01:24:13,279Yea, let me check with mylet me check with my BlackBerry. I'll124901:24:13,319 --> 01:24:15,760send you just something on my Blickberry. You know. It was cool.125001:24:15,920 --> 01:24:19,359Yeah, but no, it's gone. It's gone. It's accompany, a125101:24:19,359 --> 01:24:23,199little company. But they don't they'rein cybersecurity, now, aren't they?125201:24:23,319 --> 01:24:26,760Something like that. I also heardApples coming out with some GBT chat GBT125301:24:26,880 --> 01:24:29,159stuff, yea, their own versionof stuff, which is gonna be really125401:24:29,399 --> 01:24:31,039BlackBerry was so good as the cellphone thing that they don't do it anymore,125501:24:33,680 --> 01:24:36,239be come out with a series aboutthat. Be awful to have that125601:24:36,399 --> 01:24:40,439dominance and that kind of a marketis like my space. Right, you125701:24:40,560 --> 01:24:43,479had that market and you got whathe's sold that for six hundred million dollars125801:24:43,479 --> 01:24:46,359he's lost. All right, we'llbe back. Appreciate your listening. This125901:24:46,399 --> 01:24:55,000is the Money Matter Show. It'sall welcome back to everybody. This is126001:24:55,039 --> 01:24:58,399the Money Matter Show. Dave,Dylan, Todd, and myself Deemed.126101:24:58,840 --> 01:25:00,800I hope you enjoying it. Ifyou need more, miss anything, go126201:25:01,520 --> 01:25:06,279to Money Matters with Dean Greenberg.You'll get it on the podcast. But126301:25:06,359 --> 01:25:10,479you have to say with Dean Greenbergbecause there's a lot of Money Matters out126401:25:10,479 --> 01:25:13,600there, right I've seen. Also, just go to a website that you126501:25:13,600 --> 01:25:15,760don't have to worry about it becauseit's all on there under YouTube at the126601:25:15,800 --> 01:25:19,680top right. Also on our Facebookpage, I do weekly market updates,126701:25:19,680 --> 01:25:24,920short videos three to five minutes,really recapping everything. Check those out.126801:25:25,359 --> 01:25:29,439The YouTube page constantly has new updateson it, so look out for the126901:25:29,439 --> 01:25:33,119information. If you want to listget reading our monthly newsletter. You know127001:25:33,199 --> 01:25:35,840in about a week we'll have anew newsletter coming out. You can sign127101:25:35,960 --> 01:25:41,199up going to our website at thebottom of the page. Sounds good,127201:25:41,239 --> 01:25:45,439and you're still doing the financial plananything if anyone needs a portfolio review,127301:25:46,239 --> 01:25:50,800financial plan, talk about wills andtrust. I was telling this client of127401:25:51,279 --> 01:25:55,840a long time client of mine,a good friend too, who went to127501:25:55,880 --> 01:25:58,439a seminar with a friend of hers, and I said, I was like,127601:25:59,199 --> 01:26:01,399why would you go? Are youknow? Because she asked me do127701:26:01,399 --> 01:26:03,239you know these people? And Isaid, well, what are you doing?127801:26:04,039 --> 01:26:05,960She said no, no, I'mjust going my friends. And I127901:26:06,039 --> 01:26:10,479said, I said, there isnothing in the financial world that you need128001:26:10,479 --> 01:26:14,159that we can't help you with.We We've we've got it all right here.128101:26:15,159 --> 01:26:19,159You see where Todd. I knowyou're watching the Taiwan semiconduct your plant128201:26:19,159 --> 01:26:21,680in Phoenix. Have you? Didyou see the article this week about how128301:26:21,680 --> 01:26:26,199they did pade not gonna open intwenty twenty four, It's gonna open in128401:26:26,199 --> 01:26:30,279twenty twenty five because they cannot findskilled laborers. And I'm thinking to myself,128501:26:30,319 --> 01:26:35,039well, as a country, we'velet that technology go to Taiwan without128601:26:35,079 --> 01:26:40,840any fight for decades and now allof the trained people are in Taiwan.128701:26:41,000 --> 01:26:45,319Hello, it's the skilled workers tofinish building it. Not necessarily building a128801:26:45,399 --> 01:26:47,600chip, it's build an actual factory. They don't have the skilled workers for128901:26:47,640 --> 01:26:55,279that. To build the equipment,yeah, I direction order, Yeah,129001:26:55,359 --> 01:26:58,840to build the equipment that builds theship right right, So there, So129101:26:58,960 --> 01:27:03,680they're Phoenix, it's about to beflooded with people from Taiwan. Yeah,129201:27:03,760 --> 01:27:06,159I know how to do this.Apparently, well, they were saying the129301:27:06,199 --> 01:27:09,840training program, the people like ifthey were in Phoenix, they would have129401:27:09,840 --> 01:27:12,159to go to Taiwan for eighteen monthsand train and learn it all and then129501:27:12,199 --> 01:27:14,479they can move back. And thatdidn't work out that well, Noah,129601:27:14,680 --> 01:27:16,159there wasn't a lot of people wantedto go to Taiwan for eighteen months.129701:27:17,119 --> 01:27:21,960But Apple. Apple plans to usethat Phoenix facility for their chips for their129801:27:23,000 --> 01:27:26,680computers. Fantastic. Yeah, onceit gets up and running and the intel129901:27:26,760 --> 01:27:29,520plant is still there and it's stillcranes all over the place, yeah,130001:27:30,520 --> 01:27:33,359I can't a man. That's thedeal we have with China. Don't go130101:27:33,359 --> 01:27:38,199into Taiwan until we get all thesudden semiconductors built in the United States.130201:27:38,199 --> 01:27:43,079You know, we talked about thisa couple weeks ago about China's claim on130301:27:43,119 --> 01:27:46,199Taiwan is just it's ridiculous. Theyhave no claim on Taiwan. What about130401:27:46,199 --> 01:27:49,319the claim on the all those islandsand the and the and the and what130501:27:49,439 --> 01:27:54,880is it? The black seat?They and everything else Taiwan. For decades,130601:27:55,399 --> 01:27:59,840two parties in China fought over controlof China. The losing party was130701:28:00,319 --> 01:28:05,399banished to Taiwan. Now all ofa sudden, well, because if if130801:28:05,479 --> 01:28:09,720Russia can do it, China cando it. Yeah they I I sat130901:28:09,760 --> 01:28:13,960on the show that China's claim toTaiwan is about as strong as Russia's claimed131001:28:13,960 --> 01:28:16,079to Ukraine. You know it isn'tIt isn't part of it? Did you?131101:28:16,159 --> 01:28:19,319Smiling? You don't. You don'tlike that analogy? No, because131201:28:19,880 --> 01:28:23,760Ukraine was part of Russia at onepoint, right, and so that's not131301:28:23,800 --> 01:28:28,640the same thing. Okay, Taiwan, they kick them out. Ukraine was131401:28:28,680 --> 01:28:31,239part of Russia. Yeah, yeah, that's what they are there because they131501:28:31,239 --> 01:28:34,399were kicked out of China. Yeah, and they created their own republic and131601:28:34,479 --> 01:28:38,039so that's their own world. It'snot like Ukraine was kicked out of Russia.131701:28:38,119 --> 01:28:39,760No, that's a good point.That's a good point. So I131801:28:39,800 --> 01:28:43,359got to come up with a betteranalogy, not a good one. Oh131901:28:43,399 --> 01:28:46,159you got you again. Home builderskeep hitting new highs and we know why.132001:28:46,520 --> 01:28:50,479Uh, there's no supply and sopeople are being forced to buy new132101:28:50,520 --> 01:28:54,680homes. Whoever thought you'd say that, Oh, if you're gonna buy a132201:28:54,680 --> 01:28:56,319new home, you're gonna have toIf you're gonna buy a home, you132301:28:56,359 --> 01:28:59,600gotta buy a new one. Ohdamn um. You know, there is132401:28:59,640 --> 01:29:02,319no end the tory. There's justno inventory. And Jod you've mentioned that132501:29:02,840 --> 01:29:06,159ups connections to homebuilders. There's alot of concessions being made, and a132601:29:06,159 --> 01:29:10,600lot of concessions and a lot ofthe supply issues that have been taken care132701:29:10,640 --> 01:29:15,800of a lot and there's still somany rentals going up into sun right now,132801:29:15,880 --> 01:29:19,279like build to rent houses right whichis a fairly new thing in the132901:29:19,319 --> 01:29:24,680industry. And so that's going tocontinue to take course. And you know,133001:29:24,720 --> 01:29:28,520they continue to see that trend thateventually new home sales are going to133101:29:29,079 --> 01:29:30,880fall off because all the homes beingbuilt are going to be for rent.133201:29:31,279 --> 01:29:35,039Yeah, I think it was Ihappened to get I'm starting to get and133301:29:35,119 --> 01:29:38,920Dan, you and I've been inthis business a long time I'm starting to133401:29:38,920 --> 01:29:45,680get text and emails from people thatare hyping penny AI stocks, the pumping133501:29:45,760 --> 01:29:47,079dump people. It just started thisweek, this past week. I just133601:29:47,159 --> 01:29:51,920I got to them a phone calland an email that we call them pumping133701:29:53,000 --> 01:29:55,880dump people because they get on thephone and they pump the price up and133801:29:55,880 --> 01:29:59,159then they dump, they dump theirown But these are companies. This is133901:29:59,239 --> 01:30:02,199taking his back in nineteen ninety ninewere companies were coming public and they really134001:30:02,239 --> 01:30:06,199didn't even have a business and haveemployees. It doesn't surprise me if you134101:30:06,239 --> 01:30:11,359look at everything that's gone on,you get the big move and it was134201:30:11,479 --> 01:30:14,079used to be with dot Com andthen there was and then everything with dot134301:30:14,079 --> 01:30:16,359Com will go up and until itdidn't, now everything with AI. So134401:30:16,439 --> 01:30:19,479you're gonna get the guys that uh, you know, probably don't have the134501:30:19,520 --> 01:30:24,880best scooples, uh and um andcall people and do stuff and get people134601:30:24,880 --> 01:30:28,399excited for cheap less you know,ten thousand dollars, you can you know,134701:30:28,520 --> 01:30:30,880get these you know stocks that aregoing for a dollar you know if134801:30:31,000 --> 01:30:33,560that dollars. One of them wasit was an eighty nine cent stock and134901:30:33,680 --> 01:30:38,439dollars a dollar sixty and they bothhad AI in their name right, and135001:30:38,479 --> 01:30:40,840then go to five six dollars.You can make a fortune. Yeah,135101:30:40,960 --> 01:30:45,000fortune. And the one that calledme, he gave me his speel and135201:30:45,039 --> 01:30:47,399I said, do your parents knowwhat you do for a living? Click?135301:30:49,359 --> 01:30:53,319You know? On that note,the SMP five hundred has had thirty135401:30:53,399 --> 01:30:57,760nine consecutive days without a one percentdrop, and it's the longest run since135501:30:57,760 --> 01:31:00,479twenty nineteen. Hasn't dropped more thanone percent since made twenty three. So135601:31:00,720 --> 01:31:03,960to see that, we know there'sgoing to be some type of one of135701:31:04,000 --> 01:31:08,439those big days right where there's acatalyst, and I mean the red lights135801:31:08,439 --> 01:31:12,159are flashing all over the place,and yet we keep going higher, and135901:31:12,199 --> 01:31:16,039well it's bullish, there's bullshit.Well people, I just bought the pullback.136001:31:16,039 --> 01:31:19,000Well, what's going to happen isone day the pullback they buy and136101:31:19,039 --> 01:31:23,840it keeps going on. Lower thepanic out. I've also go ahead,136201:31:23,880 --> 01:31:26,439well, I said, I alsoheard that the options, that these zero136301:31:26,520 --> 01:31:30,640dated options are helping the market continueto rally even though there's not a lot136401:31:30,640 --> 01:31:35,640of fundamental point right now in thein the calls put options and they wanted136501:31:35,680 --> 01:31:39,680to put do Dan and I werelooking at that on Thursday, and we136601:31:39,680 --> 01:31:42,520were just shocked. Well, Daylingpointed out on Friday to me that there's136701:31:42,600 --> 01:31:46,880estimated over two point three trillion dollarsof options that expire on Friday today,136801:31:47,399 --> 01:31:50,920one last Friday, last Friday.There's the twenty first. It's a lot,136901:31:51,840 --> 01:31:56,039there's a lot, and it's themarket can kind of quietly close with137001:31:56,159 --> 01:31:58,920that kind of volume. Is amazing, right that a lot of them,137101:31:59,039 --> 01:32:00,359a lot of them might be outof money. Well yeah, and a137201:32:00,399 --> 01:32:02,760lot of them had Dean. They'vechanged the rules so most of it has137301:32:02,800 --> 01:32:05,920to be done as the open.So remember how the closes. We that's137401:32:05,920 --> 01:32:10,239only on the Thursday once, butthose wild closes, we used to get137501:32:10,319 --> 01:32:13,960no on Triple Witching Day, thosewild closes. Right, But there was137601:32:13,960 --> 01:32:18,880the ones that that the SMP wasbasically closed on Thursday and and gave you137701:32:18,920 --> 01:32:23,640a value on Monday on the Fridaymorning, and that's as if you held137801:32:23,680 --> 01:32:28,640it that long. That's what happened. Intuitive Surgical Dean. Intuitive Surgical.137901:32:28,680 --> 01:32:34,720Their big business is bariatric surgery,help people that tie their stomach off so138001:32:34,760 --> 01:32:40,159they can lose some weight. Theirbusiness has gone over the cliff because of138101:32:40,279 --> 01:32:44,840these weight loss struck everybody's waiting.Everybody's waiting. So let me ask you138201:32:44,840 --> 01:32:51,279a question. What stock would youbuy on a pullback that you're looking at?138301:32:51,319 --> 01:32:55,279What's your number one stock that youlike on a pullback? And where138401:32:55,279 --> 01:32:57,079would you want to buy it?I think it's the same for Alls.138501:32:57,199 --> 01:33:00,960Right in video we all we allthought in the video better Apple, Puck.138601:33:01,039 --> 01:33:06,119I think in Nvidio's probably got theclearest runway to profitability. I mean138701:33:06,159 --> 01:33:11,039they just they just have a demand, a product that they cannot make enough138801:33:11,079 --> 01:33:14,560of, uh and demand. Itlooks like it's going to continue for years138901:33:14,560 --> 01:33:15,680and year. Yeah. The reasonI say Apple is because they got the139001:33:15,720 --> 01:33:19,399VR coming, which looks just betterthan the other competition, and they're getting139101:33:19,399 --> 01:33:24,680into AI with like Toto saying,with the CHATSBT of their own and eventually139201:33:24,680 --> 01:33:27,000they're going to probably build chips withit too. Would be my game,139301:33:27,199 --> 01:33:30,560non tech, non non tech.Pick a stock that's not in that in139401:33:30,880 --> 01:33:36,000the top seven constellation brands. That'san opportunity right now, an opportunity with139501:33:36,000 --> 01:33:39,960a pull after a pullback or whator whatever. Yeah, well, on139601:33:40,079 --> 01:33:41,680a pullback, what do you lookfor? Well, okay, well,139701:33:41,720 --> 01:33:44,960I mean right now would be DisneyOkay, I like that. No,139801:33:45,079 --> 01:33:45,920you don't have to wait for apullback. It's had it pull Yeah,139901:33:45,920 --> 01:33:50,319I think probably humanity for me.I like Constellation brands. How are you140001:33:51,239 --> 01:33:59,079No, I I was looking atthinking, I think Disney is bull Disney.140101:33:59,439 --> 01:34:01,760Disney to me today is what Boeingwas a couple of years ago when140201:34:01,760 --> 01:34:05,119it was down to one hundred.Nobody wanted nobody wanted stuff. And I'm140301:34:05,159 --> 01:34:08,880not saying it's going back to onehundred and eighty two hundred, but at140401:34:08,920 --> 01:34:12,039eighty five, I mean you canprobably down the road see Won ten one,140501:34:12,199 --> 01:34:15,760twenty one thirty Again, it wasn'tthat there that the long ago will140601:34:15,840 --> 01:34:18,439change it. Yeah. The thingis, Bob Iger got extended another two140701:34:18,520 --> 01:34:21,199years, so they're trying. He'sgonna keep trying to work at end with140801:34:21,399 --> 01:34:25,079ESPN. They're not trying to getrid of sports anymore. They're thinking about140901:34:25,119 --> 01:34:29,319it. But now they're transitioning intomaking ESPN just streaming rather than the basic141001:34:29,399 --> 01:34:31,800cable, and they're trying to teamup with NFL, NBA, and MLB.141101:34:32,159 --> 01:34:34,560They should to do a strategic partnershipwith all of them. If they141201:34:34,560 --> 01:34:39,119can do that, that's gonna maketheir sports entertainment side a lot better too.141301:34:39,319 --> 01:34:41,560Yeah, a year ago it wasa two hundred dollar stock. You141401:34:41,600 --> 01:34:44,920know, ESPN already kind of doesthat with UFC. They have that strategic141501:34:44,960 --> 01:34:47,760partnership together, so the NBA theyhave different things, but they're gonna go141601:34:47,840 --> 01:34:51,600big sports is huge money. There'sno way they can be paying the types141701:34:51,640 --> 01:34:56,399of billions of dollars they do tocollege football in the FL if they weren't141801:34:56,439 --> 01:35:00,600making this much money. And ESPNwith Disney's back in, it's that but141901:35:00,640 --> 01:35:03,720you're right stream it out like everybodyelse. Your plus already, which works142001:35:03,760 --> 01:35:06,840really well. They have another yearon their NBA exclusive deal, right,142101:35:06,880 --> 01:35:10,920but they're trying to do like awhole partnership where say the NBA would buy142201:35:10,960 --> 01:35:14,520an ownership stake in ESPN is whatthey're looking at. That makes me think,142301:35:14,520 --> 01:35:16,720actually, you know, Google,when this football season rolls around,142401:35:16,720 --> 01:35:19,840because you two owns the ticket's goingto be interesting to see how Google profits142501:35:19,840 --> 01:35:24,000off their first year of owning theticket. It could explode. I mean,142601:35:24,079 --> 01:35:29,239who's not gonna get that exactly.And it's a great cable product already.142701:35:29,439 --> 01:35:32,000Alternative, you know, especially everyonethat dream grew up like a like142801:35:32,039 --> 01:35:34,399say I'm a New York fan Jetsand Giants. I want to watch those142901:35:34,399 --> 01:35:40,199games. Well, you're not gonnaget them out here unless you get the143001:35:40,279 --> 01:35:43,399NFL station. I know people thatlove hockey, they want to watch the143101:35:43,479 --> 01:35:47,439Rangers, Island is they always getthe NHL package basketball. That's why,143201:35:47,560 --> 01:35:51,520that's why they take off. It'sfor people that you know that have that143301:35:51,600 --> 01:35:55,840have transferred out of where they livedand grew up with those teams. Right,143401:35:57,000 --> 01:35:59,920and the red zone can get alittle tiring. Oh hell no,143501:36:00,760 --> 01:36:04,880at versus being able to watch individualgames. Yeah, I mean it depends143601:36:04,880 --> 01:36:06,520what to do. If you liketo bet on games. Red zone is143701:36:06,520 --> 01:36:10,680awesome. Yeah, get every game. No, that's I get that.143801:36:10,760 --> 01:36:13,880Yeah, I get that. Ienjoyed red Zone. All right, another143901:36:14,079 --> 01:36:16,439two out has gone quickly. Guys, good job. We'll be back next144001:36:16,479 --> 01:36:21,680week. Will money matters? Youneed us, call us, come see144101:36:21,760 --> 01:36:26,439us, send an appointment. Youneed a plan, We're doing it for144201:36:26,520 --> 01:36:29,239you for free. Just call us. We'll get it done. We'll be144301:36:29,239 --> 01:36:32,640back next week. And remember,we all want to be happy, we144401:36:32,680 --> 01:36:39,600all want to be healthy, andwe all strive to be profitable. Say it's all