Mitigating Risk - How to Protect Yourself While Markets are High

1 00:00:00,120 --> 00:00:04,200 Good morning everybody. It's that time again, Sunday morning, eight o'clock right 2 00:00:04,240 --> 00:00:07,879 here in seven ninety k ands T. This is Dean Greenberg and we will 3 00:00:07,960 --> 00:00:10,599 be bringing you the Money Matter Show. It's a two hour talk show. 4 00:00:10,599 --> 00:00:14,720 We talk about everything, what's affecting the markets, what's affecting our world, 5 00:00:14,800 --> 00:00:19,480 what's affecting how we live, all that stuff right on here on this show. 6 00:00:19,519 --> 00:00:22,839 Remember we have the three shows on Saturday, though a little bit more 7 00:00:22,920 --> 00:00:27,039 educational. We do the TV show after the News on Sunday night at ten 8 00:00:27,199 --> 00:00:31,719 thirty. And it's just so all about trying to get out to you all 9 00:00:32,280 --> 00:00:35,640 how we feel about the markets, what do we feel that's going on, 10 00:00:36,119 --> 00:00:42,039 how we're investing, and you know, and obviously just basically try to help 11 00:00:42,039 --> 00:00:45,799 you. That's what we try to do here at Greenberg Financial Group. This 12 00:00:45,960 --> 00:00:49,280 is the Money Amount a show and it is sponsored by Greenberg Financial Group, 13 00:00:49,280 --> 00:00:53,520 which is both the registered investment advisory and a broken dealer registered with the SEC, 14 00:00:53,719 --> 00:00:56,960 Members of Finery, members of CYPRIC. On the show, we talk 15 00:00:57,000 --> 00:01:02,719 about a lot of stuff, products, strategies, ideas, our opinions. 16 00:01:03,240 --> 00:01:04,799 It doesn't matter what it is, it's always got some type of risk, 17 00:01:04,840 --> 00:01:10,439 and we highly suggest you understand those risks prior to investing. If you don't 18 00:01:10,560 --> 00:01:14,319 understand risk, then you don't understand how to invest. You have to understand 19 00:01:14,359 --> 00:01:18,560 your own risks. You have a risk tolerance. And what that is, 20 00:01:18,640 --> 00:01:21,239 It's real simple. When the markets are going up, your risk tolerance goes 21 00:01:21,319 --> 00:01:23,079 high. You want to buy in, you want to buy more, you 22 00:01:23,079 --> 00:01:26,000 want to be aggressive. You want to be buying stocks that are a hundred 23 00:01:26,000 --> 00:01:30,840 points higher than they were when you didn't want them. That's not risk tolerance, 24 00:01:30,879 --> 00:01:36,120 that's greed. Ris tolerance is when things are just going around and they're 25 00:01:36,120 --> 00:01:38,159 boring, what do you want? How much can you handle on the downside 26 00:01:38,200 --> 00:01:42,280 before you start panicking, stressing out and wanting to sell everything you have? 27 00:01:42,719 --> 00:01:46,000 How much can you go ahead? And the only way you get to that 28 00:01:46,159 --> 00:01:48,680 is when the markets are rallying like they have been. You got to go 29 00:01:48,680 --> 00:01:51,480 ahead and say, okay, should I take some money off the table? 30 00:01:51,519 --> 00:01:55,040 Should I have a nice cash position? All those things are very important, 31 00:01:55,040 --> 00:02:00,480 and what we call that is mitigating risk. Mitigating risk means when when we 32 00:02:00,519 --> 00:02:02,439 think the risk is higher like we do right now, than the reward, 33 00:02:02,480 --> 00:02:10,120 then we do investment strategies that will slow down the growth but will certainly protect 34 00:02:10,159 --> 00:02:14,240 us. If the markets come down a bit. That means we still lose, 35 00:02:14,319 --> 00:02:16,080 but we won't lose as much, but we won't gain as much. 36 00:02:16,319 --> 00:02:21,280 Remember this is a long term game. You want to drive. You want 37 00:02:21,280 --> 00:02:24,280 to get away from getting the markets killed. Because what happens is when the 38 00:02:24,319 --> 00:02:28,800 markets go down, everybody decides that's when they want to sell. But when 39 00:02:28,840 --> 00:02:30,840 the markets are up, that's when everybody wants to buy. It's the absolute 40 00:02:31,240 --> 00:02:36,360 wrong thing to do. So understanding how to mitigate risk is very important. 41 00:02:36,400 --> 00:02:38,719 It's one of the things that I think separates us also is that we know 42 00:02:38,759 --> 00:02:42,800 how to do that. Whether we're buying puts, whether we're do it buying 43 00:02:42,879 --> 00:02:46,199 inverse funds, whether're selling calls, whether we're raising cash, reducing positions, 44 00:02:46,199 --> 00:02:51,080 stay into allocation. But what I call it as discipline. Do we stay 45 00:02:51,240 --> 00:02:54,560 disciplined? And we do. Most people don't understand what that means. It 46 00:02:54,560 --> 00:02:58,319 means if it's going up and we have allocations, we'll take some money off 47 00:02:58,360 --> 00:03:02,879 the table when least a high, raise some cash when it's down. We're 48 00:03:02,919 --> 00:03:07,280 not afraid to buy then because if we got out of a part of a 49 00:03:07,319 --> 00:03:09,919 stock higher and it's coming back down, and we see opportunity, we'll buy. 50 00:03:09,919 --> 00:03:13,719 Even though if it goes lower, we still saved a whole bunch of 51 00:03:13,719 --> 00:03:15,759 it. Coming back down. It doesn't mean it comes back down. It 52 00:03:15,800 --> 00:03:20,520 could keep going higher. I've been thinking that forty three hundred would have been 53 00:03:20,560 --> 00:03:23,000 the top of this market, but we're now at forty five and change. 54 00:03:23,879 --> 00:03:28,960 We're really extended. In my opinion, I'm very cautious on the market, 55 00:03:29,000 --> 00:03:31,319 but yet we're still being able to make some money. As it rises, 56 00:03:31,599 --> 00:03:35,879 we'll give some of that back. But the beauty of it is we got 57 00:03:35,879 --> 00:03:38,280 a nice cash position. If it comes down, you can't tell me nineteen 58 00:03:38,319 --> 00:03:44,879 point five forward earnings forward, not even current forward. Current is higher earnings, 59 00:03:46,240 --> 00:03:50,439 it's high. The norm is fourteen fifteen, maybe sixteen. That means 60 00:03:50,439 --> 00:03:53,439 it should be around thirty five hundred on the SMP. I know right now 61 00:03:53,599 --> 00:03:58,439 what's happened. It's simple when you look at it from a psychological point. 62 00:03:58,759 --> 00:04:01,120 We were breaking out, and hedge funds get invested, they start buying, 63 00:04:01,280 --> 00:04:04,159 and which means the other people that have money in the modern markets started saying, 64 00:04:04,159 --> 00:04:08,520 I got to get more aggressive, and I gotta get back in the 65 00:04:08,639 --> 00:04:13,719 question is we were everyone was so bearish and including us that you know, 66 00:04:13,759 --> 00:04:16,319 the figure we can go lower that when we got to up here, it 67 00:04:16,399 --> 00:04:21,000 kept going. People started going and now they're turning a little bit bullish now 68 00:04:21,079 --> 00:04:26,680 that that whole thing. And I could see it in the putting calls ratios. 69 00:04:26,800 --> 00:04:30,920 You can the puts are cheaper than the calls, which means everybody speculating 70 00:04:30,920 --> 00:04:35,120 and the market will go higher, and that usually means it won't. There's 71 00:04:35,160 --> 00:04:40,639 so much out there. Valuations means something. You know, take away the 72 00:04:40,639 --> 00:04:45,160 magnificent in seven and you have a scenario that the markets aren't rising as much 73 00:04:45,600 --> 00:04:49,040 as you see those indexes. The dall's only up six percent, the s 74 00:04:49,120 --> 00:04:54,519 and P five hundred, the equal rated weighted one is only up nine percent, 75 00:04:55,319 --> 00:04:59,000 while the natzacs up thirty four and the SMP's up eighteen. But the 76 00:04:59,120 --> 00:05:03,079 seven stocks, and you know what they are, Microsoft, Google, Apple, 77 00:05:04,399 --> 00:05:15,240 Amazon, that flicks Microsoft and the video. There are a lot of 78 00:05:15,240 --> 00:05:18,800 those stocks that have rallied, rallied, rallied. I still think some of 79 00:05:18,839 --> 00:05:21,920 them can rally. I still think the Video on a ten percent fifteen percent 80 00:05:21,959 --> 00:05:28,120 pullback is still a buy. I still think you can go to five hundred, 81 00:05:28,160 --> 00:05:30,560 five fifty possibly both. Do I want to buy it at four fifty 82 00:05:30,560 --> 00:05:34,480 four to sixty now, I'd rather see it come back down. If it 83 00:05:34,480 --> 00:05:38,680 gets unto four hundred, I'll be very attracted to it again. But remember 84 00:05:38,720 --> 00:05:43,879 that stock started all the way down where under one fifty, under one twenty 85 00:05:43,879 --> 00:05:48,160 five, nobody wanted to buy it. It got low, and then it 86 00:05:48,199 --> 00:05:54,120 started rallying and rallying. Why because they have the AI chip that does something 87 00:05:55,519 --> 00:05:58,680 that nobody else does, and it costs ten thousand dollars per chip, and 88 00:05:58,759 --> 00:06:03,199 they can't even make enough for them. But eventually other people will get in 89 00:06:03,279 --> 00:06:08,360 and eventually that will cut into their pricing, and eventually that will make the 90 00:06:08,439 --> 00:06:11,839 stock weigh over value like it is right now if it doesn't catch up with 91 00:06:11,839 --> 00:06:15,439 earnings. But I think for the next I don't know, you know, 92 00:06:15,519 --> 00:06:18,199 maybe year, year and a half, their earnings will be very very good. 93 00:06:18,560 --> 00:06:21,800 The difference is will it be able to match a five hundred and six 94 00:06:21,879 --> 00:06:28,439 hundred dollar stock price. We'll see, okay, But it's all about allocations. 95 00:06:29,199 --> 00:06:30,800 It's all about income. At least now, when you're sitting and waiting, 96 00:06:30,800 --> 00:06:34,160 you can get four four and a half fives maybe five and a half 97 00:06:34,199 --> 00:06:39,879 percent money markets and government bonds. That's not a bad place to have some 98 00:06:39,920 --> 00:06:43,639 money right now, okay, while you're waiting before the money markets and everything 99 00:06:43,680 --> 00:06:46,279 else will under one percent. So it was very difficult to just sit there 100 00:06:46,319 --> 00:06:53,600 because you aren't making anything. But as we rally, think about it, 101 00:06:53,639 --> 00:06:57,160 like a rubber band and its stretches, stretches, stretcher, stretches and stretches. 102 00:06:57,560 --> 00:07:00,639 The eventually that rubber band snouts and when it snouts back, it snaps 103 00:07:00,639 --> 00:07:04,319 back fast, it snaps back hard, and then all of a sudden it 104 00:07:04,319 --> 00:07:11,639 goes the other way. Can we see a forty five to seven percent pullback? 105 00:07:11,639 --> 00:07:14,519 Of course we could. Will I wait that long to go back in 106 00:07:14,560 --> 00:07:16,759 a little bit, No, I'll stop positioning probably before that if we hit 107 00:07:16,839 --> 00:07:20,600 some support levels, unless it's a reason, then we're coming down. But 108 00:07:20,720 --> 00:07:25,040 the one thing I can tell you right now, selling a little bit in 109 00:07:25,120 --> 00:07:30,800 here, making sure you have a cash position is extremely smart. August September 110 00:07:30,839 --> 00:07:33,000 the worst two months of the year. Worst two months. September is the 111 00:07:33,000 --> 00:07:39,439 only down month on the average year over year. Does that mean it has 112 00:07:39,519 --> 00:07:42,680 to go down? Heck no, I've seen August September is up, but 113 00:07:42,800 --> 00:07:46,639 on the whole, and it's all about percentages. The odds are the market 114 00:07:46,639 --> 00:07:49,240 will not do well in August and September, So why do we want to 115 00:07:49,279 --> 00:07:58,120 be hanging around waiting for that to happen. Raise cash opportunities arise all the 116 00:07:58,199 --> 00:08:01,920 time, all the time, and when they do, if you don't have 117 00:08:01,040 --> 00:08:05,680 money, you can't buy. We're not institutions, insurance companies, pension plans 118 00:08:05,720 --> 00:08:11,360 that constantly have money flowing into us that we can buy in and keep averaging 119 00:08:11,360 --> 00:08:18,000 down and doing things like that. We don't have that scenario. We usually 120 00:08:18,000 --> 00:08:20,319 get some money in, we get some more money. We look at whatever 121 00:08:20,360 --> 00:08:24,879 that lump sum is. We have to manage it, and we manage it 122 00:08:24,879 --> 00:08:28,759 through the planning process. We plan, plan, plan, and then we 123 00:08:28,879 --> 00:08:31,920 do the job at the end, which is the money management. We don't 124 00:08:31,959 --> 00:08:35,840 ship it off to other people and then let them go ahead and decide how 125 00:08:35,879 --> 00:08:39,360 to invest it. The biggest thing that I have found is people are coming 126 00:08:39,360 --> 00:08:43,720 in here and talking to me and my crew is what they like about us 127 00:08:45,799 --> 00:08:50,879 is that we're flexible that if for some reason they feel like the market's going 128 00:08:50,879 --> 00:08:52,799 down, we're still able to work with them. We're not going to sit 129 00:08:52,879 --> 00:08:56,720 there and say, okay, let's just go ahead and hold because it goes 130 00:08:56,759 --> 00:09:00,639 down and goes up. We have a plan. But what we do show 131 00:09:00,720 --> 00:09:03,080 is, hey, we've mitigated risk. We have all this cash on the 132 00:09:03,120 --> 00:09:07,720 sidelines, and this is what we're going to do. These are the levels 133 00:09:07,720 --> 00:09:09,600 we're looking for. These are the stocks we're looking for, These are the 134 00:09:09,679 --> 00:09:16,639 ets we're looking for. We reallocate, we redistribute. We come out of 135 00:09:16,679 --> 00:09:18,960 stocks that are not good, we go into the stocks that are good. 136 00:09:22,320 --> 00:09:24,360 We have a nice bond ladder position. We've been doing lots and lots and 137 00:09:24,440 --> 00:09:28,759 lots of bonbladders. We're treasuries. We have a little kicker that we put 138 00:09:28,759 --> 00:09:31,919 at the end there because if rates come down, we want to participate in 139 00:09:33,000 --> 00:09:37,600 that. So we'll go one, two, three, even maybe up to 140 00:09:37,679 --> 00:09:41,279 five years of treasury bonds and then we'll put a little something in at the 141 00:09:41,360 --> 00:09:46,399 end. So if interest rates go down, that can go up. It's 142 00:09:46,480 --> 00:09:50,120 dropped almost forty fifty percent. It can go back up at some time if 143 00:09:50,200 --> 00:09:54,120 rates come down. But what we're doing is hedging against rates coming down while 144 00:09:54,120 --> 00:09:56,440 still making income and still making the things we want to do. In a 145 00:09:56,559 --> 00:10:03,360 very conservative way. These are strategies that our experience have told us. These 146 00:10:03,399 --> 00:10:05,960 are the way things can work. That doesn't mean everything we do works, 147 00:10:07,080 --> 00:10:09,879 because I could tell you we know it doesn't. But what we do know 148 00:10:11,039 --> 00:10:13,360 is that we don't quit. We keep looking, We keep looking for opportunities, 149 00:10:13,559 --> 00:10:18,960 and we keep moving forward, so as the markets keep rallying and the 150 00:10:18,080 --> 00:10:20,480 Dow is the one. You remember, I said a few year weeks ago, 151 00:10:22,200 --> 00:10:26,320 stop buying into the SMP and stop buying into the DOO, because the 152 00:10:26,399 --> 00:10:30,200 Dow was lagging everything. And like, the Dow was up two percent this 153 00:10:31,080 --> 00:10:35,039 week, and the SMP was only up point seven Now that's that was actually 154 00:10:35,080 --> 00:10:39,840 down a half a percent, and the SMP five hundred equal weighted was up 155 00:10:39,879 --> 00:10:43,879 one point three percent. All right, So if there's a shift, you 156 00:10:43,919 --> 00:10:48,639 can see the shift. I also see the nervousness in the markets. And 157 00:10:48,679 --> 00:10:52,120 in any time, the markets can get hit for three to five percent, 158 00:10:52,440 --> 00:10:56,399 very very quickly, because all of a sudden, the buyers will walk away, 159 00:10:56,759 --> 00:11:01,240 the sellers will come in, and computers will kick in with sell programs, 160 00:11:01,399 --> 00:11:05,200 and the next thing you know, we're down five hundred to a thousand 161 00:11:05,200 --> 00:11:09,559 points and we're back down to you know, possibly forty three fifty or so 162 00:11:09,200 --> 00:11:11,960 is if you if you think about it as forty three hundred. I think 163 00:11:13,000 --> 00:11:20,279 there's some support in that area as we stop. Moving forward. Next week, 164 00:11:20,639 --> 00:11:26,360 the Fed's gonna raise rates again. Everybody knows they're gonna raise rates again. 165 00:11:26,440 --> 00:11:30,000 That's a good thing. Well, we don't know, is what he's 166 00:11:30,000 --> 00:11:35,440 gonna say afterwards, because well, I'm a little confused, because why don't 167 00:11:35,440 --> 00:11:39,120 we sit and wait to see what the actions that they've taken we'll do for 168 00:11:39,240 --> 00:11:43,639 us. We see, we see the PPI and CPI numbers coming down. 169 00:11:45,200 --> 00:11:48,240 Yeah, I know they're not where they are, but it's going to take 170 00:11:48,279 --> 00:11:52,279 some time. If they continue to raise interest rates, we can go off 171 00:11:52,279 --> 00:11:56,320 the cliff. I know out there now you're listening them to these news probably 172 00:11:56,399 --> 00:12:01,080 you're reading things, Oh, it's probably gonna be a off landing, and 173 00:12:01,720 --> 00:12:03,960 the markets like the fact that they think it's gonna be everything's gonna be great. 174 00:12:05,799 --> 00:12:09,879 I don't know, they don't know. I don't think that's the case. 175 00:12:09,519 --> 00:12:16,120 The only reason they're saying that is because of jobs, that the unemployment 176 00:12:16,279 --> 00:12:20,440 is not going up, But unemployment is going up because we are not going 177 00:12:20,480 --> 00:12:24,480 up because we do not have enough qualified people to take the jobs. So 178 00:12:24,559 --> 00:12:28,559 whenever someone gets qualified, there's a job for them to take. They were 179 00:12:28,639 --> 00:12:35,639 they were concerned because of jobless numbers. Were surprised this week they were reduced. 180 00:12:35,120 --> 00:12:41,080 Not as many people looking for jobs. That's because we have so many 181 00:12:41,159 --> 00:12:45,399 jobs but not enough qualified people. Why I scratched my head on that and 182 00:12:45,440 --> 00:12:48,559 say, why don't we start getting people qualified instead of handing them checks and 183 00:12:48,679 --> 00:12:52,360 money and promises and and get out of their school loans. If they went 184 00:12:52,399 --> 00:12:56,120 to college and they got a student loan, they and pass the stuff. 185 00:12:56,279 --> 00:13:01,480 So they have to have some type of intelligence if they're not in work, 186 00:13:01,559 --> 00:13:07,519 Stop paying them, stop giving them a break, start giving them the opportunity 187 00:13:07,559 --> 00:13:09,600 to learn what these companies want. Get these you had, you know on 188 00:13:09,639 --> 00:13:15,720 Friday, they had all these corporations coming to talk about AI. Why don't 189 00:13:15,759 --> 00:13:18,879 they have a collaboration with them also about how to getting people back into the 190 00:13:18,919 --> 00:13:26,799 workforce that they need technologiy. These companies that constantly higher and then they lay 191 00:13:26,840 --> 00:13:30,200 off, then they hire, then they lay off, and then they hire. 192 00:13:30,519 --> 00:13:35,519 Let's find a way that they can get start paying and helping get back. 193 00:13:35,840 --> 00:13:39,279 But it all give them tax breaks. You know they all worry about. 194 00:13:39,279 --> 00:13:43,960 We're gonna go ahead and we're gonna tax tax the corporation. We're gonna 195 00:13:43,000 --> 00:13:46,600 put this minimum tax on. We're gonna be the only one in the world 196 00:13:46,639 --> 00:13:50,240 that does it. So where they're gonna do, they're gonna stop going overseas 197 00:13:50,320 --> 00:13:56,039 again like they did before. They're gonna avoid them, avoid taxes. You 198 00:13:56,080 --> 00:14:01,240 want to change and change the whole tax code. Change it. You hear 199 00:14:01,279 --> 00:14:05,159 me talking about flat tax all the time, every time that word comes out 200 00:14:05,200 --> 00:14:09,919 of paying your fair share from Joseph Biden, I go, then do a 201 00:14:11,080 --> 00:14:18,200 flat tax, you more on. It's that simple fair share ten percent across 202 00:14:18,240 --> 00:14:22,240 the board, everyone pays. If you only make it three thirty grand, 203 00:14:22,240 --> 00:14:26,240 you're paying three grand. If you make it a million, you're paying you're 204 00:14:26,279 --> 00:14:33,639 paying ten thousand, one hundred thousand, I mean one hundred thousand, Okay. 205 00:14:35,399 --> 00:14:39,440 In their mind, fair share means if you're making more, you got 206 00:14:39,480 --> 00:14:46,879 to pay a higher percentage. To me. Fair share its percentages. It's 207 00:14:46,919 --> 00:14:52,559 not dollar amounts. So somebody doesn't pay taxes and other people are paying on 208 00:14:52,600 --> 00:14:56,360 the average thirty thirty five percent. Then you add in the city and the 209 00:14:56,480 --> 00:15:01,519 local and the state taxes and they're upwards the fifth somewhat percent in these states. 210 00:15:01,720 --> 00:15:03,720 And what do they take them and do with the money. They talk 211 00:15:03,759 --> 00:15:11,200 about reparations, giving money to people, use the money and clean up the 212 00:15:11,279 --> 00:15:16,919 cities, help the homeless, get some place to live, a good homeless, 213 00:15:16,919 --> 00:15:20,000 a job. Immigration. I laugh at this. I laugh at this. 214 00:15:22,879 --> 00:15:31,639 The White House started being so happy because they've seen a reduction from year 215 00:15:31,679 --> 00:15:37,639 to year of immigrants coming in, reduce I don't know, eighty ninety thousand 216 00:15:37,639 --> 00:15:41,279 from last June to this June. It's still one hundred and forty four thousand 217 00:15:41,360 --> 00:15:46,240 people. I think that came in according to their records, and that's what 218 00:15:46,320 --> 00:15:58,320 they know about whether in two twenty it was like, who knows thirty thousand, 219 00:15:58,360 --> 00:16:04,320 I think. But nobody will fix that system because it's too political. 220 00:16:04,360 --> 00:16:08,240 They want to use it as a divide between everybody. But when you speak 221 00:16:08,240 --> 00:16:14,960 to people not only here but around the world, everybody agrees legal immigration is 222 00:16:15,000 --> 00:16:17,919 fine. Let's figure out how we can do it. Obviously, the same 223 00:16:17,960 --> 00:16:21,600 immigration that we've used for the last fifty years is not good when you have 224 00:16:21,679 --> 00:16:25,440 millions of people coming across the border. When they used to come on ships 225 00:16:25,440 --> 00:16:30,639 into Ellis Island. You might have had a few hundred, big difference between 226 00:16:30,679 --> 00:16:38,039 millions and hundreds, but we had the same archaic system. Don't put the 227 00:16:38,159 --> 00:16:42,679 money into irs agents trying to go ahead and catch people. Change the tax 228 00:16:42,759 --> 00:16:49,639 laws. Make it simple. Use that money to work on the border. 229 00:16:52,120 --> 00:16:57,320 Hire these people to assimilate the people coming across the border, get them educated, 230 00:16:57,360 --> 00:17:03,720 get them speaking English. The corporations help the schooling these children and and 231 00:17:03,839 --> 00:17:08,400 adults in areas that they can go get jobs, so they can pay taxes, 232 00:17:10,000 --> 00:17:14,359 so they can go ahead and pay for healthcare. We are paying everything. 233 00:17:18,279 --> 00:17:22,599 Can you imagine going to another country and getting healthcare, food, lodging, 234 00:17:23,480 --> 00:17:30,839 everything for free, education for your kids free. Because if we don't, 235 00:17:30,920 --> 00:17:38,240 we're not being humanity. But yep, you look around our country, 236 00:17:38,279 --> 00:17:44,599 you look around our cities. You see homeless everywhere you see you see you 237 00:17:44,720 --> 00:17:49,039 see gangs shooting each other. You see people punching people all over New York 238 00:17:49,559 --> 00:17:52,799 subways killing And who do they go after in the subways. They go after 239 00:17:52,839 --> 00:17:59,519 the marine who is helping everybody out on the subway, not the crazy guy 240 00:17:59,759 --> 00:18:03,720 that is in jail for whatever. You know, I had a rest and 241 00:18:03,839 --> 00:18:07,599 jail and hurt people just a week before. Na, Nah, not him. 242 00:18:08,279 --> 00:18:11,920 Yes. Is it a shame he died without getting help? Yeah, 243 00:18:11,200 --> 00:18:15,240 blame yourself for not getting help. I haven't blamed the city for not getting 244 00:18:15,279 --> 00:18:18,279 help for him. You can't go to courts and be that crazy and not 245 00:18:18,400 --> 00:18:23,119 think and keep releasing him and I think something's gonna happen. But if you 246 00:18:23,200 --> 00:18:26,559 think about it, was it better that something happened to him or to the 247 00:18:26,640 --> 00:18:33,559 mother and children that he kept going after. There's so much messed up stuff 248 00:18:33,559 --> 00:18:37,400 in our country and the world right now, but the people understanding not not 249 00:18:37,440 --> 00:18:42,559 doing anything because the government's refuse to look at things from a different advantage. 250 00:18:42,759 --> 00:18:45,400 All they want to do in this government right now is looking at the stuff 251 00:18:45,400 --> 00:18:56,880 from climate control, climate control, greenness, green that unions. I'm appalled 252 00:18:57,279 --> 00:19:03,359 that he that our president. I'm the best president since ever about unions. 253 00:19:03,799 --> 00:19:14,920 I love unions. Unions have their place, but unions are not what they 254 00:19:15,000 --> 00:19:17,960 used to be in the twenties, thirties, forties and fifties when they were 255 00:19:18,039 --> 00:19:25,839 protecting them from bad environments, wages, all that stuff. Very few people 256 00:19:25,880 --> 00:19:33,839 get help with wages with unions. The Teachers Union has another agenda and when 257 00:19:33,839 --> 00:19:37,559 they go out. Who benefits. Parents don't benefit, the kids don't benefit, 258 00:19:38,319 --> 00:19:44,519 the teachers don't benefit, the schools don't benefit, the unions benefit. 259 00:19:44,559 --> 00:19:47,599 And then they have to compromise and maybe they get a little bit more pay. 260 00:19:47,720 --> 00:19:51,680 Do I think teachers should get more pay, Absolutely, but the should 261 00:19:51,759 --> 00:19:59,039 teachers be treated just like every other employee on merit. You get based on 262 00:19:59,160 --> 00:20:06,759 merit. Absolutely. We were a merit based society. We earned what we 263 00:20:06,839 --> 00:20:10,359 have to do, and it's starting to change back to that. It's a 264 00:20:10,359 --> 00:20:18,960 fight Supreme Court. We're in control the Supreme Court now and it is driving 265 00:20:18,000 --> 00:20:22,359 the liberals crazy. They don't even want to listen to the law. When 266 00:20:22,400 --> 00:20:26,839 they come down with decisions, they don't care they go against it. Those 267 00:20:26,920 --> 00:20:30,880 judges and the people that go against the law need to be arrested themselves. 268 00:20:33,400 --> 00:20:41,720 We have a two tier system here and it's always against those on the right. 269 00:20:41,480 --> 00:20:45,440 If somebody on the right decided that they weren't going to abide by the 270 00:20:45,519 --> 00:20:52,160 law, they would get crucified. A judge would be crucified. The Supreme 271 00:20:52,160 --> 00:20:57,359 Court. For how many years they controlled it on the left and we just 272 00:20:57,519 --> 00:21:00,680 accepted it. This is the law. We don't like it. But we're 273 00:21:00,720 --> 00:21:07,640 gonna deal with it the best we can. They want to abolish the Supreme 274 00:21:07,680 --> 00:21:11,200 Court because they don't get their way. That reminds me of growing up with 275 00:21:11,319 --> 00:21:17,119 the little wheenies that always got upset when they didn't win, and they're gonna 276 00:21:17,119 --> 00:21:21,720 take that ball and go home. Well, you know what, we don't 277 00:21:21,799 --> 00:21:25,400 let him take that ball. We want to got our own balls. We 278 00:21:25,480 --> 00:21:29,839 didn't need them, and we moved on. And then they were sitting on 279 00:21:29,880 --> 00:21:34,240 the sidelines watching us play and watching us have fun. And when they came 280 00:21:34,279 --> 00:21:40,000 and said today, can I come and play? We said no, until 281 00:21:40,000 --> 00:21:44,039 you realize that taking your ball and going home isn't gonna work. We don't 282 00:21:44,039 --> 00:21:48,680 want you with us. And that's back when the kids actually played outside and 283 00:21:48,839 --> 00:21:52,319 went down to the park and went down to the ball field and did things 284 00:21:52,400 --> 00:21:57,200 that way. You did not MoMA and Daddy hovering over trying to tell everybody 285 00:21:57,200 --> 00:22:02,440 what to do. You grew up, You grew up in society. You 286 00:22:02,839 --> 00:22:06,599 suffered when when you when you did things that other people didn't want, and 287 00:22:06,680 --> 00:22:08,880 you get and you benefited when you were the ones that were able to lead 288 00:22:08,920 --> 00:22:11,839 and and and get people to do the things you wanted. To do. 289 00:22:12,440 --> 00:22:15,079 It's life, baby, It's life, and that's what it's all about. 290 00:22:15,799 --> 00:22:22,359 And right now, I look at what's going on politically with the Biden situation, 291 00:22:22,799 --> 00:22:26,440 and if we if you don't see that, then you are blind to 292 00:22:26,799 --> 00:22:32,160 justice. If you know, if Trump is wrong and he's doing all these 293 00:22:32,160 --> 00:22:34,680 things, and they can find legal things, which half of the stuff is 294 00:22:34,759 --> 00:22:41,519 bull right, then why isn't the Biden's getting the same treatment. How the 295 00:22:41,720 --> 00:22:48,880 hell did they get seventeen million dollars? Fifteen million dollars? And now it's 296 00:22:48,000 --> 00:22:55,599 Romania, and it's Ukraine, and and and it's Russia, and it's China. 297 00:22:55,920 --> 00:23:00,559 You know what it reminds me of when people lie, when people are 298 00:23:00,599 --> 00:23:03,720 wrong, what do they do? They accuse you of what they did. 299 00:23:04,039 --> 00:23:08,519 And the reason they accuse you of what they did is because they know what 300 00:23:08,599 --> 00:23:14,279 they did and they can accuse you of it because they know how it works. 301 00:23:15,480 --> 00:23:19,359 They've already been able to see how you get the money. So let's 302 00:23:19,400 --> 00:23:22,880 just say Trump did it, trumps him with China, trumps him with Russia. 303 00:23:23,000 --> 00:23:29,160 Look at these actions, and the whole time, and the whole time 304 00:23:30,200 --> 00:23:34,279 it's been the Bidens doing it. Trump wasn't wrong with Ukraine, going ahead 305 00:23:34,319 --> 00:23:38,599 and talking about bears and all this other stuff. Doesn't common sense come in? 306 00:23:40,200 --> 00:23:45,240 What the hell did the Bidens do to get money? He's been a 307 00:23:45,279 --> 00:23:52,160 politician forever. What does he learned in the world other than corruption and greed 308 00:23:52,319 --> 00:23:56,599 and power? How could he give or humpt Biden give any information. The 309 00:23:56,599 --> 00:24:00,319 guy's the biggest loser in the world. Don't even care about his own child. 310 00:24:00,960 --> 00:24:03,279 I don't care how that child came into the world. I don't care 311 00:24:03,279 --> 00:24:08,319 if you a sec club, doing drugs, doing everything. When you do 312 00:24:08,359 --> 00:24:12,279 a test to see if that child jews and the jaws and you go ahead 313 00:24:12,319 --> 00:24:17,319 and act like it's not even yours. I gotta I don't care how much 314 00:24:17,319 --> 00:24:21,119 the mother might be well. The problems you have with the family that child 315 00:24:21,519 --> 00:24:23,960 is hunt the Biden's and no matter how it got there, you deal with 316 00:24:23,960 --> 00:24:26,079 it, and you deal with the right way. We'll be right back. 317 00:24:26,160 --> 00:24:29,759 We got a full show to you. This is the money mounted show. 318 00:24:29,799 --> 00:24:38,279 Thank you for listening. Welcome back, everybody. This is Dean Greenberg. 319 00:24:38,359 --> 00:24:41,759 This is the money amount of show. We have Dave and Dylan and Todd 320 00:24:41,759 --> 00:24:45,119 all here today, and I gotta tell you this has been a busy, 321 00:24:45,160 --> 00:24:52,319 busy, busy week, and I'm happy that what we're doing and is resonating 322 00:24:52,640 --> 00:24:59,279 with people, you know, and it's people enjoying to hear the mitigating risk 323 00:24:59,319 --> 00:25:03,400 part. They're enjoying hearing the financial planning point. And then when they come 324 00:25:03,440 --> 00:25:07,799 in and actually get it done, they realize how simple it really has been 325 00:25:07,960 --> 00:25:10,720 because we make it simple at the end, because it's not really simple, 326 00:25:11,119 --> 00:25:15,960 and they can see the whole process and how it can help them exactly. 327 00:25:15,000 --> 00:25:18,039 I mean, through the years, it's hard to actually imagine or plot out 328 00:25:18,079 --> 00:25:22,000 what's really going to happen, but the financial plan and our proposal, you're 329 00:25:22,000 --> 00:25:25,720 actually able to see it all on paper, really see a roadmap, a 330 00:25:25,799 --> 00:25:27,920 timeline of sorts, and so that gives a lot of people peace of mind 331 00:25:29,000 --> 00:25:32,440 through the years, knowing that they have a plan, they have being secured 332 00:25:32,480 --> 00:25:34,720 in different vehicles. It's everything's based on your risk tolerance, so you don't 333 00:25:34,720 --> 00:25:38,119 have to worry about risk from that standpoint. It's a very good tool to 334 00:25:38,160 --> 00:25:44,240 have in summertime, especially with temperatures in one hundred and twelve range pretty quiet 335 00:25:44,279 --> 00:25:47,920 around here, but not this year. You guys have been just busy as 336 00:25:47,920 --> 00:25:51,359 can be and like Dean said, is it's resonating. We had a client 337 00:25:51,440 --> 00:25:53,920 come in and they were they were saying, you know, we heard summer's 338 00:25:53,960 --> 00:25:57,839 the best time to come in because you're slower, and it is the best 339 00:25:57,880 --> 00:26:02,240 time, and we're not as slow we normally are because of that, because 340 00:26:02,240 --> 00:26:04,559 we do want to help as many people as we can during this time where 341 00:26:04,559 --> 00:26:07,799 a lot of people are freed up from a lot of the responsibilities that will 342 00:26:07,839 --> 00:26:11,880 come in a couple of months right with the holidays. We know it's it's 343 00:26:11,000 --> 00:26:15,599 very hard to really sit down and give the devotion in time that's needed on 344 00:26:15,640 --> 00:26:22,240 this financial plan because it really is important to understand your goals, your objectives 345 00:26:22,759 --> 00:26:25,680 for yourself, for your life. Right, everyone's going to be different, 346 00:26:25,759 --> 00:26:29,279 and if you're not in the right time and place in your own mindset, 347 00:26:29,319 --> 00:26:32,519 if you're too stressed worried about other things, then the financial plan is really 348 00:26:32,519 --> 00:26:34,559 not going to resemble who you are and what you really value. What's good 349 00:26:34,599 --> 00:26:37,680 about it, It lines it all up. Okay, you start off for 350 00:26:37,680 --> 00:26:41,640 the risk tolerance, then you can get the whole picture, and we make 351 00:26:41,680 --> 00:26:44,119 sure that the protect it too. I mean, you got to make sure 352 00:26:44,160 --> 00:26:47,880 they have their insurance If they need guaranteed income, we get them that guaranteed 353 00:26:47,920 --> 00:26:51,599 income all the things. If they have tax problems, we deal with the 354 00:26:51,680 --> 00:26:53,960 tax problems. Who we decide when they should take Social Security and not take 355 00:26:55,039 --> 00:26:57,440 so, so the optim in time for them Medicare. Even though these are 356 00:26:57,480 --> 00:27:03,640 not all the things we know about. The help federal employees totally have a 357 00:27:03,759 --> 00:27:07,519 different one. You guys have become pretty damn good and understanding. You've been 358 00:27:07,519 --> 00:27:11,839 doing it for years now of helping them through. There we time and stuff 359 00:27:11,880 --> 00:27:15,680 and being able to set them up. And one of the things we found 360 00:27:15,880 --> 00:27:18,119 is their life insurance part. As they get closer, it's nice, but 361 00:27:18,160 --> 00:27:22,640 once they switch over to not working, the premiums go through the ceiling and 362 00:27:22,319 --> 00:27:26,480 most of them don't even realize. Yeah, and that's Fegley is what he's 363 00:27:26,519 --> 00:27:30,200 talking about, is that once you retire, that premium just sometimes it even 364 00:27:30,240 --> 00:27:33,200 triples. And a lot of the time the Feds that we work with, 365 00:27:33,240 --> 00:27:34,720 when they do retire, they don't even need the life insurance anymore. They 366 00:27:34,720 --> 00:27:37,960 had it for different reasons while they were working, and then they find out 367 00:27:38,000 --> 00:27:41,000 that that's going to triple, they just can get rid of it. Yeah, 368 00:27:41,039 --> 00:27:45,519 maybe find a term policy. That's been popular too if they do want 369 00:27:45,559 --> 00:27:49,559 any kind of life insurance just in case, But very rarely does a federal 370 00:27:49,559 --> 00:27:53,240 employee that we work with keep Fegley because of that premium increase, And people 371 00:27:53,240 --> 00:27:57,480 don't understand that the when you're with an employer, you have a lot cheaper 372 00:27:57,519 --> 00:28:02,559 life insurance rates. They're playing abortion of it, right. But also the 373 00:28:02,839 --> 00:28:07,400 insurance company looks at a group of people as a better insured risk from their 374 00:28:07,400 --> 00:28:11,319 standpoint than just one individual person. Right. They can share the risk amount 375 00:28:11,359 --> 00:28:14,559 a group of people instead of just one person, so you get a better 376 00:28:14,640 --> 00:28:17,720 rate because of that. When you're on your own, you finally retire and 377 00:28:17,720 --> 00:28:21,759 you have That's why Fedley jumps up so much. Also, with federal employees, 378 00:28:21,759 --> 00:28:25,559 you have FHB, which helps with the Medicare side of things as well. 379 00:28:25,680 --> 00:28:30,119 So understanding all those benefits is really important. And the federal employee benefits 380 00:28:30,119 --> 00:28:33,359 are one of the best packages I've ever seen. I mean a lot of 381 00:28:33,400 --> 00:28:36,559 those federal employees when they come in we do the financial plan, they really 382 00:28:36,559 --> 00:28:40,960 are set well. They're the ones with the pensions that a lot of private 383 00:28:40,960 --> 00:28:42,799 companies are going away from, but the Feds are still not going away from 384 00:28:42,839 --> 00:28:47,039 it. They're getting their pensions, and the pensions are guaranteed in sense as 385 00:28:47,079 --> 00:28:48,839 long as the government's still going to pay them, and they love them, 386 00:28:48,839 --> 00:28:52,480 and that's how they get through retirement and it helps a lot. We've see 387 00:28:52,519 --> 00:28:56,839 a lot of Feds that have worked for the federal government for twenty thirty forty 388 00:28:56,920 --> 00:29:00,960 years. They're set in retirement from their pensions. Even need to touch their 389 00:29:00,039 --> 00:29:03,480 retirement accounts a lot of the time. So you don't necessarily go to work 390 00:29:03,480 --> 00:29:06,599 for the government to get rich, but they do take care of you to 391 00:29:06,640 --> 00:29:08,079 the grave. They do take care of you. And so understanding how the 392 00:29:08,119 --> 00:29:14,440 pension works with the social security you know, there's difference with furs and csrs. 393 00:29:14,480 --> 00:29:18,880 There's a lot of intricacies that we've been able to really put ourselves into 394 00:29:18,920 --> 00:29:22,480 the depths of knowledge on and that's where we're here to help. So if 395 00:29:22,480 --> 00:29:26,279 you're a federal employee and you want some help understanding your benefits, how to 396 00:29:26,279 --> 00:29:27,759 put it into financial plan, how it's going to look throughout the years, 397 00:29:29,039 --> 00:29:30,920 give us a call. You know, I don't know if you talk about 398 00:29:30,920 --> 00:29:37,599 the Dow rally during your monologue that the Dow Jones Industrial average has been lagging 399 00:29:37,640 --> 00:29:41,839 behind the other industries. Has been pretty much of a NAZDAC led rally. 400 00:29:41,240 --> 00:29:47,920 And this beast two weeks, the Dow Jones Industrial Average, the thirty stock 401 00:29:47,960 --> 00:29:52,559 Dow Industrial Average has been up every single day, Yeah, for ten consecutive 402 00:29:52,640 --> 00:29:55,200 days now, Yes, on Friday it was up two points. Okay, 403 00:29:56,440 --> 00:30:00,359 it still counts, right, So ten consecutive days higher for the and that's 404 00:30:00,400 --> 00:30:04,119 why last week the Dow was up two point one percent while the NASDAC was 405 00:30:04,240 --> 00:30:07,559 down. And that's like the only the first time that they've done ten in 406 00:30:07,559 --> 00:30:11,279 a row since like twenty seventeen or seventeen. Yeah, sixty six years since 407 00:30:11,319 --> 00:30:15,880 it's been ten up days in a row. And bank Ernie's kicked it off 408 00:30:15,920 --> 00:30:18,599 earlier in the week. They were better than expected, with the exception of 409 00:30:18,880 --> 00:30:22,000 Goldman Sachs. But in a world where all news is good news, even 410 00:30:22,000 --> 00:30:26,119 Goldman Sachs rally yeah on disappointing results, but that's what ignited the rally. 411 00:30:26,240 --> 00:30:33,519 The bank sector coming into last week was unchanged on the year in this gigantic 412 00:30:33,640 --> 00:30:38,079 rally, which tells you that the rally has been very narrow. It's been 413 00:30:38,119 --> 00:30:42,200 those magnificent seven stocks and It's going to be real interesting to see what happens 414 00:30:42,279 --> 00:30:47,880 next week. Late last week, Thursday and Friday, we saw a significant 415 00:30:47,960 --> 00:30:53,680 selling in the Magnificent seven because Monday morning, before the open, the NAZDAC 416 00:30:53,839 --> 00:30:59,680 is going to rebalance that index, the NASDAC one hundred for the first time, 417 00:31:00,240 --> 00:31:03,240 excuse me, for the third time in history. It has gotten so 418 00:31:03,359 --> 00:31:07,359 out of whack with those seven stocks just dominating, being more than fifty percent 419 00:31:07,480 --> 00:31:12,039 of the index, that they're gonna gonna adjust it, and that obviously that's 420 00:31:12,079 --> 00:31:17,359 going to mean cutting back on those seven stocks. And if you're trying to 421 00:31:17,400 --> 00:31:22,359 mimic the Nasdaq one hundred, you're going to have to sell a lot of 422 00:31:22,359 --> 00:31:25,279 those seven stocks. Yeah, and they were saying that Microsoft in Nvidia, 423 00:31:25,519 --> 00:31:26,920 they think you're going to be the ones that could hit it hit the hardest 424 00:31:27,039 --> 00:31:30,440 because they've been the ones that have run up the most, have been part 425 00:31:30,440 --> 00:31:33,440 of the reason that we're seeing this rally. All Right, We just see 426 00:31:33,839 --> 00:31:38,960 Nvidio, which you could you could argue it's probably the strongest company to invest 427 00:31:40,039 --> 00:31:44,519 in because they've got the most desirable product, they have a limited supply, 428 00:31:45,000 --> 00:31:48,519 they have unlimited demand. It just looks like a company that is a spaceship 429 00:31:49,880 --> 00:31:53,599 drop ten percent on Thursday and Friday, and we'll see what happens. Maybe 430 00:31:53,640 --> 00:31:59,440 that was Maybe that was the rebalancing that took place. Maybe not. It's 431 00:31:59,480 --> 00:32:01,319 going to be very interesting because it's it's unusual, Like I say, only 432 00:32:01,359 --> 00:32:06,880 the third time in history. The first time was in nineteen ninety nine when 433 00:32:06,880 --> 00:32:10,680 the tech bubble just burst, and is we're not predicting that, but it 434 00:32:10,799 --> 00:32:14,880 couldn't. You could see some significant selling. And if you were to get 435 00:32:15,799 --> 00:32:20,240 in video down another ten percent down under four hundred, that starts to look 436 00:32:20,279 --> 00:32:24,279 really attractive. It doesn't have a sky high PEPs around fifty right now, 437 00:32:24,480 --> 00:32:28,799 which for a company growing as fast as video is pretty modest. Well, 438 00:32:28,799 --> 00:32:31,640 the thing is, too, my dimensions in his monologue is algorithms are going 439 00:32:31,680 --> 00:32:35,559 to start selling to the programs. Yeah, so if it hits four hundred, 440 00:32:35,559 --> 00:32:37,640 maybe they have a sell stop loss in there right at four hundred, 441 00:32:37,759 --> 00:32:40,440 So then it could drop lower and lower and the programs kick in at that 442 00:32:40,480 --> 00:32:44,400 point. And one of the things I've learned from doing this for forty years 443 00:32:44,519 --> 00:32:49,079 is when you expect chaos, you get nothing. So Monday may be a 444 00:32:49,079 --> 00:32:52,640 big yawn. Yeah, but it's going to be unusual. Yeah, it's 445 00:32:52,640 --> 00:32:54,480 a good point of Dollan just brought up, though, And I don't think 446 00:32:54,519 --> 00:33:00,519 a lot of people really understand what what he means by algorithms, because a 447 00:33:00,519 --> 00:33:06,000 lot of traders out there are just based off fundamental rules that are built into 448 00:33:06,000 --> 00:33:08,519 an algorithm, and then they'll buy and sell based on just thresholds. So 449 00:33:08,559 --> 00:33:12,960 if it hits a certain number, or if it rolls over it's fifty day 450 00:33:13,000 --> 00:33:19,079 moving average, like there's certain indicators where no matter what the fundamental analysis says 451 00:33:19,119 --> 00:33:22,599 about the stock, it will just sell or buy based on those indicators coming 452 00:33:22,599 --> 00:33:25,359 about. So, I mean, I'm sure you know all about the Black 453 00:33:25,400 --> 00:33:29,039 Monday. It's kind of that's what they put the blame on, was all 454 00:33:29,039 --> 00:33:32,039 those algorithms just hitting threshold after threshold and just hitting cell sales sells. And 455 00:33:32,119 --> 00:33:36,079 that was nineteen eighty seven, and it was relatively new. There weren't any 456 00:33:36,119 --> 00:33:39,519 controls on it like there are now. So away it went, yeah, 457 00:33:39,559 --> 00:33:45,839 and then the Tuesday morning the market struggled to open. I remember that thinking 458 00:33:45,920 --> 00:33:49,240 this might be the end. It might be the end of my career. 459 00:33:49,759 --> 00:33:52,000 Five years in, you know, this might be the end of the stock 460 00:33:52,039 --> 00:33:54,680 market as we know it, and even though there are controls now, it 461 00:33:54,720 --> 00:33:59,880 does still help a lot on the momentum side of things both ways. Yeah, 462 00:34:00,000 --> 00:34:02,240 and you're right, computers do most of the trading up and down, 463 00:34:02,759 --> 00:34:07,039 and that's why we've seen this hurry to get on board of the Magnificent seven 464 00:34:07,079 --> 00:34:09,679 because you don't want to miss it. I also heard that the NAZAC one 465 00:34:09,840 --> 00:34:15,320 hundred shouldn't have too much impacts on its pricing, but it could impact the 466 00:34:15,400 --> 00:34:19,320 SMP a lot because of the Magnificent seven being the ones that are sold, 467 00:34:19,320 --> 00:34:22,119 those are the ones that are the bigger weights in the SMP five hundred, 468 00:34:22,320 --> 00:34:24,480 whereas the NAZDAC one hundred, those seven that are being sold, they're just 469 00:34:24,519 --> 00:34:28,280 getting bought back on the smaller shot. And I don't understand it because the 470 00:34:28,400 --> 00:34:32,159 SMP five hundred is not being rebounced. No ZAC one hundred is being rebuild, 471 00:34:32,280 --> 00:34:36,039 so it shouldn't have any impact on the smp F one hundred. Town 472 00:34:36,079 --> 00:34:39,039 I heard the same thing on Friday. That doesn't make any sense no to 473 00:34:39,119 --> 00:34:43,880 me. I thought about it. Whereas if the Magnificence seven gets sold off 474 00:34:43,920 --> 00:34:46,400 and that's those are the biggest waiting in the SMP as well those bolds, 475 00:34:46,400 --> 00:34:50,239 So it could impact the SMP that way, I get it, okay, 476 00:34:50,280 --> 00:34:52,199 but it seems like it would have a more significant impact on the NASTAC one 477 00:34:52,280 --> 00:34:57,239 hundred A time will tell Monday morning before the open, So we're gonna know 478 00:34:57,440 --> 00:35:00,880 right away Monday morning when we come in and look at the future, we're 479 00:35:00,920 --> 00:35:04,239 gonna know what's going on. And like I said, have in forty years, 480 00:35:04,760 --> 00:35:07,559 whether it's Y two K or whatever, when there's going to be chaos, 481 00:35:07,599 --> 00:35:12,320 oft times there's not us. It is fascinating to see the doos so 482 00:35:13,119 --> 00:35:17,199 divergent from the others. Yeah, and interestingly, the dividend ETFs really haven't 483 00:35:17,239 --> 00:35:22,119 responded. They're they're flat up one or two percent on the year, So 484 00:35:22,280 --> 00:35:27,280 people are still not interested in the high dividend stocks. They're they're wanting to 485 00:35:27,639 --> 00:35:31,920 play the go go game. And the economics, we saw that retail sales 486 00:35:31,920 --> 00:35:35,719 were up two tenths of ever percent in June, which was much less than 487 00:35:35,760 --> 00:35:40,519 expected, and it's consistent with a slowing economy and signs of tighter credit. 488 00:35:40,679 --> 00:35:45,599 Is what was being mentioned Dean on that home builders they had the sentiment was 489 00:35:46,119 --> 00:35:51,199 up for what a ninth or seventh straight month. Things were good there. 490 00:35:51,440 --> 00:35:53,880 All right, we'll be right back. We all appreciate you listening. We'll 491 00:35:53,920 --> 00:36:05,360 speaking well, we'll be right back. Say it's all. Welcome back, 492 00:36:05,400 --> 00:36:08,480 everybody. This is Dean Greenberg. This is the Money Matter Show. We 493 00:36:08,559 --> 00:36:13,719 appreciate your listening. Remember, if you miss some you want more, you 494 00:36:13,800 --> 00:36:16,920 miss a week, it's just go to a website. Okay. If you 495 00:36:16,960 --> 00:36:20,960 go to a website and you go to where YouTube is, we have all 496 00:36:21,000 --> 00:36:23,440 our shows on there. We have our TV shows, we have and we 497 00:36:23,519 --> 00:36:28,519 have all our radio show podcasts. Well, you just go to Money Matters 498 00:36:29,000 --> 00:36:31,440 with Dean Greenberg for the podcast, and you'll also get it. We put 499 00:36:31,440 --> 00:36:36,320 that up on Monday afternoon, right, yep, um and um you get 500 00:36:36,360 --> 00:36:39,000 it all. Yeah, Actually come to Sunday about noon. Yeah, Sunday. 501 00:36:39,599 --> 00:36:43,920 I won't count on that. But at the end of the day, 502 00:36:44,039 --> 00:36:45,119 if you wanted to go back and say, hey, what was he saying 503 00:36:45,159 --> 00:36:47,920 a month ago, you know, or two months ago, you can go 504 00:36:49,000 --> 00:36:51,280 do it. We're not always right, I'll tell you that right now, 505 00:36:51,719 --> 00:36:53,679 but we've been pretty damn good. You're on a business where you're always right. 506 00:36:53,719 --> 00:36:58,639 This isn't it? Yeah, it did not end. We did the 507 00:36:58,639 --> 00:37:01,039 best we can every day with the information we have on that day. Well 508 00:37:01,159 --> 00:37:05,599 and okay, so I switching subjects. As you know, we also have 509 00:37:05,920 --> 00:37:10,960 an estate planner and attorney in our office. And Jonathan, it's always good 510 00:37:12,000 --> 00:37:15,039 to see you. Always a pleasure. Welcome back. Love the office. 511 00:37:15,159 --> 00:37:17,559 Yeah, very fit and well with us by the way, Oh it's nice. 512 00:37:17,639 --> 00:37:22,559 Ye. People have been loving the been loving Jonathan being here. There 513 00:37:22,639 --> 00:37:27,199 was one one yesterday I had a client command doing totally unrelated to Jonathan, 514 00:37:27,239 --> 00:37:30,480 and before I'm done, she's sitting to Jonathan's office. Yeah, we had 515 00:37:30,480 --> 00:37:31,840 a conversation. She's had a little bit of an issue. So we're trying 516 00:37:31,880 --> 00:37:36,159 to get that squared away as cheap as possible. And see how that's how 517 00:37:36,239 --> 00:37:37,079 it works. They told you from the beginning, that's how it works. 518 00:37:37,079 --> 00:37:39,320 They come here, you're here, it's easy to bring in. You have 519 00:37:39,360 --> 00:37:43,760 a conversation, and and they if you help them, they help them, 520 00:37:43,760 --> 00:37:46,559 and they remember absolutely and if they and if they need stuff done, then 521 00:37:46,639 --> 00:37:50,199 remember to come back to and vice versa. I have clients come in and 522 00:37:50,400 --> 00:37:52,599 a lot of what I do is going to require some money management, and 523 00:37:52,639 --> 00:37:54,760 they can you know, they got someone right around. A long time client 524 00:37:54,760 --> 00:37:58,719 told me she went to a seminar last week because a friend of hers wanted 525 00:37:58,719 --> 00:38:01,239 her to go with her, and it was somebody trying to do trust. 526 00:38:01,719 --> 00:38:05,559 She doesn't have a trust. We had to talking about wales and trust and 527 00:38:06,000 --> 00:38:07,880 so you'll be seeing her soon, hopefully. You know. I love to 528 00:38:07,880 --> 00:38:12,719 help him out. And the best part is he has the same philosophy. 529 00:38:12,760 --> 00:38:16,719 We do get a value for your money, all right. We're not about 530 00:38:16,719 --> 00:38:22,719 overcharging or thinking we're better than everybody else. Keep the fees reasonable, keep 531 00:38:22,760 --> 00:38:25,440 him lower it reasonable. And people then walk away and say, Okay, 532 00:38:25,679 --> 00:38:30,000 I'm happy, And it's it's funny you say that because the lady we're just 533 00:38:30,039 --> 00:38:34,079 talking about, she said she had her brother in law prepare the trust. 534 00:38:34,239 --> 00:38:37,599 Yes, and he gave her a family discount in another state and another state 535 00:38:37,880 --> 00:38:40,559 more for the trust than you would. I told her, I'll give her 536 00:38:40,559 --> 00:38:44,639 the family discount. Happy to do it. Yeah, yeah, right, 537 00:38:45,320 --> 00:38:47,519 your family discount. But if you want to play my rights, you're gonna 538 00:38:47,559 --> 00:38:52,599 save money. That was unusual. Family discount was more than what you charge. 539 00:38:52,639 --> 00:38:55,199 I couldn't believe he charged her what he did. But you know there's 540 00:38:55,199 --> 00:38:59,480 some attorneys that'll do that, all right. So what do we want to 541 00:38:59,480 --> 00:39:00,920 talk about? You always have good stuff for us, all right. Well 542 00:39:01,039 --> 00:39:05,320 let's talk about trustees, all right. So you know, trustees I think 543 00:39:05,320 --> 00:39:07,760 go hand in hand with you guys, And that's something that you know, 544 00:39:07,760 --> 00:39:09,599 one of the reasons why I coordinated with you with uh, you know, 545 00:39:09,639 --> 00:39:14,559 the Greenberg Financials, because you know, picking a trustee of a trust is 546 00:39:14,599 --> 00:39:16,920 important. So it could be a family member, it could be uh, 547 00:39:17,159 --> 00:39:21,679 you know, your CPA, it could be anybody who you want to be 548 00:39:21,679 --> 00:39:23,679 because what they're going to be doing is managing the assets for the for the 549 00:39:23,719 --> 00:39:29,079 beneficiaries. And sometimes you can just pick your sister who doesn't know anything about 550 00:39:29,119 --> 00:39:32,239 finance, but her job is to hold those assets for an indefinite time, 551 00:39:32,639 --> 00:39:37,519 indefinite time for the benefit of the beneficiaries. And sometimes I tell them, 552 00:39:37,599 --> 00:39:39,679 just find a good financial planner, give them the money. You know. 553 00:39:39,760 --> 00:39:43,920 Let's say there's a house in there and you have kids that are six years 554 00:39:43,920 --> 00:39:46,559 old and they're not going to be able to take until they're twenty five. 555 00:39:46,639 --> 00:39:51,760 We'll sell the house, take that kit those proceeds and invest it and let 556 00:39:51,800 --> 00:39:54,360 it grow and let it grow exponentially and find a good financial planner. And 557 00:39:54,400 --> 00:39:57,760 that's why, you know, one of the reasons why I do want to, 558 00:39:58,119 --> 00:40:00,119 you know, work with you guys, because um, I think that 559 00:40:00,159 --> 00:40:06,760 you guys are a great resource if somebody in that under that circumstance, UH 560 00:40:06,800 --> 00:40:09,320 needs a good financial plan or at least somebody to talk to and point them 561 00:40:09,320 --> 00:40:13,960 in the right direction. So you know, when you pick a trustee, 562 00:40:14,199 --> 00:40:16,239 you don't necessarily have to, you know, pick the CPA. You don't 563 00:40:16,280 --> 00:40:19,679 have to pick the smartest personal world. You just need to pick somebody that 564 00:40:19,760 --> 00:40:22,960 knows enough to go find a financial planner. Or if they do want to 565 00:40:22,000 --> 00:40:25,280 run out that house, they want to get a rental real estate, UH, 566 00:40:25,400 --> 00:40:30,039 they can define a property manager to manage the property for the benefit of 567 00:40:30,079 --> 00:40:32,800 the beneficiaries. I was talking to go to the client Friday afternoon, and 568 00:40:35,119 --> 00:40:38,840 he had been made by his father. He had been made trustee of his 569 00:40:39,360 --> 00:40:47,519 younger sister's estate her assets because the father knew that that he's honest and he's 570 00:40:47,559 --> 00:40:52,119 competent, you know, the two two things that are pretty important when you're 571 00:40:52,119 --> 00:40:54,800 picking a trustee. And that's why he's trustee of the of the of her 572 00:40:54,920 --> 00:40:59,960 state. Because the father knew that he could trust him and that he would 573 00:41:00,119 --> 00:41:02,800 be fair with her. And he's intelligent, knows what he's doing, and 574 00:41:04,159 --> 00:41:07,480 sometimes I don't even look at his fair competent. And somebody is going to 575 00:41:07,559 --> 00:41:10,719 do is going to follow the rules, right because that document that we prepare 576 00:41:10,760 --> 00:41:15,000 are the rules. So probably the most importantesty is the biggest part. You 577 00:41:15,039 --> 00:41:19,159 know, you make a good point. You don't have to be to know 578 00:41:19,320 --> 00:41:22,639 the financial business. You need to know somebody who does know the financial But 579 00:41:22,679 --> 00:41:24,920 I always say, well, if you woke up in the morning and then 580 00:41:24,960 --> 00:41:29,400 your tooth was killing you, your first stop wouldn't be the library, right 581 00:41:29,639 --> 00:41:34,199 right, absolutely. And trustees their job, they're they're held to an ethical 582 00:41:34,239 --> 00:41:37,400 standard where they just need to prudently invest the assets for the benefit of the 583 00:41:37,440 --> 00:41:42,119 beneficiaries. And that's really, really, really important. So if I do 584 00:41:42,199 --> 00:41:45,280 have trustees that come in and they ask me, you know, you know, 585 00:41:45,400 --> 00:41:47,239 what should I do with these assets, I'll say, well, what 586 00:41:47,320 --> 00:41:51,280 are the goals, what what's the what's the time frame and distributions? Maybe 587 00:41:51,280 --> 00:41:52,599 it is a good idea you do speak with a financial plan or take that 588 00:41:52,719 --> 00:41:57,559 cash and let it grow for their benefit, because I, you know, 589 00:41:57,599 --> 00:42:00,440 I kind of spit ball jokingly, but I called it the rules seventy two. 590 00:42:00,519 --> 00:42:04,960 Right, if you put in a money into a ten ten percent interest 591 00:42:05,079 --> 00:42:07,480 bearing account, isn't supposed to double every seven point two years? Is at 592 00:42:07,480 --> 00:42:10,920 the rule? Or yeah, that's that's actually the simple rule. It's actually 593 00:42:12,000 --> 00:42:16,679 sixty nine point nine is an easier the rule of seventy two, which is 594 00:42:17,280 --> 00:42:21,119 and this is interesting because most a lot of people don't know this. Any 595 00:42:21,199 --> 00:42:23,639 rate of return to your getting. If you divide that rate of return into 596 00:42:23,679 --> 00:42:27,639 seventy two, that's how long it'll take for it to double. There you 597 00:42:27,679 --> 00:42:30,719 go roughly. And I tell people that in their ears perk up. They 598 00:42:30,760 --> 00:42:31,920 said, okay, you know, because a lot of clients I'll have, 599 00:42:32,360 --> 00:42:37,760 you know, I get their finances and they'll have one hundred thousand sitting in 600 00:42:37,800 --> 00:42:40,159 a savings account and it's just collecting dust at point zeros or one percent. 601 00:42:40,239 --> 00:42:43,719 Why don't you take half of it and invest it? You know, find 602 00:42:44,079 --> 00:42:46,280 find somebody that you trust to find somebody that you know that has this has 603 00:42:47,000 --> 00:42:51,559 your goals at the best interest in mind, and you know, let them 604 00:42:51,559 --> 00:42:53,159 grow that money if it's just going to sit there. Yeah, especially nowadays 605 00:42:53,159 --> 00:42:55,599 with the Treasury is paying such a good interest rates. We've been doing a 606 00:42:55,599 --> 00:42:59,320 lot, a lot with the treasury ladder with people that's just have a lot 607 00:42:59,360 --> 00:43:00,639 of money in the eavings account they don't know what to do with they're kind 608 00:43:00,639 --> 00:43:04,960 of tired of just seeing it get point zero, zero one, maybe point 609 00:43:05,000 --> 00:43:07,519 one percent of return. We talk to them and they end up doing a 610 00:43:07,519 --> 00:43:09,639 treasury ladder and give four and a half five percent. There you go, 611 00:43:09,800 --> 00:43:14,280 that's that's that's huge. You know, it's not what it used to be 612 00:43:14,320 --> 00:43:16,320 back in the eighties when he used to get a couple percentage points. Now 613 00:43:16,360 --> 00:43:20,320 it's four years ago too, is it four years A couple of years ago, 614 00:43:20,400 --> 00:43:22,559 I mean for zero, Yeah, when the race for zero in the 615 00:43:22,559 --> 00:43:24,440 Fed. But once the Fed started raising the races, when the treasury started 616 00:43:24,480 --> 00:43:28,360 going up, and they went up taking full advantage of it right now, 617 00:43:28,519 --> 00:43:31,760 and of course the long term bonds that dropped in value by thirty five percent 618 00:43:32,119 --> 00:43:37,199 during the last twelve months. If you had your fixed income portion of your 619 00:43:37,199 --> 00:43:40,960 portfolio and long term bonds, which most people did, especially if you're in 620 00:43:40,960 --> 00:43:45,760 a four one down twenty percent and on the stocks and you're down thirty five 621 00:43:45,800 --> 00:43:49,760 percent on your safe money so that's a rough year. Yeah, twenty two 622 00:43:49,840 --> 00:43:52,400 was a very rough year for a lot of people, and most of the 623 00:43:52,599 --> 00:43:57,400 damage was done in the long term bond market. And I always look at 624 00:43:57,400 --> 00:43:59,960 liquidity. What is a liquidity and something like that. So let's say they 625 00:44:00,039 --> 00:44:02,679 do take fifty thousand, then they need it, right, completely liquid with 626 00:44:02,719 --> 00:44:06,760 a treasury, if you do a treasury ladder, it's completely liquid. We 627 00:44:06,760 --> 00:44:09,480 can sell that day. The only thing is if race are still going up, 628 00:44:09,559 --> 00:44:13,639 your principle might be down. Like if you buy fifty thousand dollars worth 629 00:44:13,679 --> 00:44:15,760 of treasuries that day, if the race went up, they could be down 630 00:44:15,840 --> 00:44:19,119 to forty five thousand dollars. So if you need it that day, you 631 00:44:19,199 --> 00:44:21,519 might get less. But if you hold it to maturity, you get the 632 00:44:21,559 --> 00:44:24,119 fifty thousand dollars plus the interest back. There you go. Because they're a 633 00:44:24,119 --> 00:44:28,840 short term and because they're treasuries, and that's right. Yeah, well, 634 00:44:28,880 --> 00:44:31,920 and that's why also that's a big down. I'm just using even numbers, 635 00:44:31,960 --> 00:44:36,599 but that also that's also why with the savings, we don't suggest put all 636 00:44:36,639 --> 00:44:38,199 of your savings into it. If you have two hundred grand and savings, 637 00:44:38,440 --> 00:44:42,760 take one hundred and fifty thousands to still have fifty thousands completely liquid, so 638 00:44:42,800 --> 00:44:45,119 this does go to maturity. We also ladder them one year, two year, 639 00:44:45,199 --> 00:44:49,800 three year, so that way after the one after one year, I 640 00:44:49,800 --> 00:44:52,679 mean you as you get closer, I mean, if you know you need 641 00:44:52,719 --> 00:44:54,599 money within the year, you shouldn't invest it. But if you're not thinking 642 00:44:54,639 --> 00:44:58,159 that, but saying nine months you need it, that one year one is 643 00:44:58,599 --> 00:45:02,599 going to be either high a lower BikeE fraction right right, yeah, exactly 644 00:45:02,800 --> 00:45:08,960 exactly. The treasure ladders have been really helpful and very desirable to people. 645 00:45:09,000 --> 00:45:12,719 They love it. I love it. And the other one that's been good 646 00:45:12,760 --> 00:45:15,920 for people that can look out five years or three years or something, it's 647 00:45:15,960 --> 00:45:20,880 been the Miga Yeah okay, because that they're getting the same interest rate but 648 00:45:20,960 --> 00:45:22,559 they don't have to pay taxes. But it's not as liquid. And what 649 00:45:22,679 --> 00:45:25,960 that is is a multi year guaranteed annuity for five years and his pain. 650 00:45:27,239 --> 00:45:30,239 Last time I looked at it was five point two percent compounded each year, 651 00:45:30,360 --> 00:45:32,679 which is guaranteed to you from the insurance company. But it's not as liquid, 652 00:45:32,760 --> 00:45:36,719 So you're right, so that is locked up, so you wouldn't want 653 00:45:36,719 --> 00:45:39,039 to put everything in there. Essentially as a certificate of deposit within the conference 654 00:45:39,079 --> 00:45:42,679 company. But you've got it for five years. Yeah, and we're looking 655 00:45:42,719 --> 00:45:45,599 at a plus companies that will most likely pay it. Right, if you 656 00:45:45,679 --> 00:45:49,480 try to lock in a five year treasure, you're going to get around four 657 00:45:49,840 --> 00:45:52,400 You're gonna get around four percent. You don't want to do migas and in 658 00:45:53,599 --> 00:45:58,440 retirement accounts, you don't have to do them in those because you're already getting 659 00:45:58,480 --> 00:46:01,719 a tax the food. Unless that you can't get a rate like that anywhere, 660 00:46:01,840 --> 00:46:05,000 right, Unless the rate it's not much hiant, then it doesn't matter. 661 00:46:05,079 --> 00:46:06,880 Yeah, you'd have to go. If you're going on five years, 662 00:46:06,880 --> 00:46:10,519 you probably get a corporate that would be in the five percent range. Honeywell, 663 00:46:12,039 --> 00:46:15,480 Bristol Meyer, proct Gamble, something like that that would get you five 664 00:46:15,519 --> 00:46:16,960 percent. Well, if it's paying more than everything else you can get, 665 00:46:17,079 --> 00:46:20,400 right, then it's worth It's because it doesn't matter one way to the other. 666 00:46:20,440 --> 00:46:22,920 But it's a liquidity pot. It's it's a high rate for sure. 667 00:46:22,199 --> 00:46:25,280 So, Jonathan, we've been bringing people. People have been coming in and 668 00:46:25,320 --> 00:46:29,079 coming to you. You've been seen people and they've been coming to us, 669 00:46:28,920 --> 00:46:31,320 and it's been working pretty well. Yeah, I love it's a good it's 670 00:46:31,320 --> 00:46:35,519 a good relationship. It's a bear in working out of your house with your 671 00:46:35,559 --> 00:46:37,639 two year old and your three year old. Right well, yeah, absolutely 672 00:46:39,199 --> 00:46:43,559 know. But next time you're buying shirts, you know, appreciate one and 673 00:46:44,000 --> 00:46:46,559 a large big you know, extra large, no large, big fee, 674 00:46:46,639 --> 00:46:52,000 big big. You have about his logo shirts that they got his law firm 675 00:46:52,079 --> 00:46:54,800 name on him? You want some of those two? I figured to put 676 00:46:54,840 --> 00:46:59,639 Greenberg Financial Group on him. Yeah, a little sticker over top of the 677 00:46:59,800 --> 00:47:05,840 Edward Law firm and and uh put Greenberg Financial on there. My next round, 678 00:47:05,880 --> 00:47:08,760 I promise I'll get chief teachers for the team. You said you said 679 00:47:09,039 --> 00:47:14,000 the first consultation is free. Correct, And we've we've had a number of 680 00:47:14,039 --> 00:47:16,480 clients that have taken you up on that. Absolutely. Oh yeah, and 681 00:47:16,480 --> 00:47:20,840 and you really just you and I sit side by side. You're just amazing 682 00:47:20,960 --> 00:47:24,800 how how our businesses are intertwined. Yeah, yeah, Anathan, thanks again, 683 00:47:24,800 --> 00:47:28,840 buddy. All right, we'll see you soon. Get your name out 684 00:47:28,880 --> 00:47:30,320 there. They know how to get in touch with you. We'll keep going 685 00:47:30,360 --> 00:47:35,880 forward. It's listening. I remember if it's not here, to go to 686 00:47:35,880 --> 00:47:40,559 a website you can get all the others information. Uh, Podcasts and on 687 00:47:40,679 --> 00:47:46,199 TV shows all on the Thanks We'll be back right after the short break. 688 00:47:47,440 --> 00:47:57,639 Say it's all welcome back everybody. This is Dan Greenberg. This is the 689 00:47:57,679 --> 00:48:01,159 Money Mounted Show. We got Dave, Dylan, Todd and Myselfia to give 690 00:48:01,159 --> 00:48:06,880 you all the information that you need to be able to go through the ups 691 00:48:06,920 --> 00:48:09,960 and downs and the volatility of these markets and had a plan for your future. 692 00:48:12,199 --> 00:48:14,599 Give us a summary with so coming into the second hour for those of 693 00:48:14,719 --> 00:48:17,000 you just tuning in, we got a pretty good week. The Doubt led 694 00:48:17,039 --> 00:48:21,760 everything with it was up two percent, The SMP five hundred was up point 695 00:48:21,840 --> 00:48:24,639 seven percent, the NASDAC was down a half a percent, and then or 696 00:48:24,639 --> 00:48:28,000 the Russell two thousand was up a percent and a half, which is a 697 00:48:28,039 --> 00:48:30,679 small cap, and then the equal weighted SMP five hundred was up one point 698 00:48:30,719 --> 00:48:34,840 three percent. So overall the market did a little better. In the SP 699 00:48:34,920 --> 00:48:38,000 five hundred than the concentrated seven that we've been talking about for the last three 700 00:48:38,039 --> 00:48:42,800 weeks. We saw rotation out of those on Thursday and Friday, as there's 701 00:48:42,920 --> 00:48:46,039 a lot of concern about what's going to happen Monday morning when they do the 702 00:48:46,079 --> 00:48:50,880 rebalancing of the Nasdaq one hundred. Yeah, and that's why XLP, the 703 00:48:50,920 --> 00:48:55,119 consumer staples ETF did well. On Friday, A DVY actually rallied, VYM 704 00:48:55,159 --> 00:49:01,400 actually rallied. Yeah, they actually rallied the DAL. Interestingly, despite that 705 00:49:02,360 --> 00:49:06,960 ten day winning streak, the DAL up ten days in row for the first 706 00:49:07,000 --> 00:49:12,280 time since twenty seventeen. It's now up six percent on the year six and 707 00:49:12,320 --> 00:49:15,599 then attacks up thirty four. So it has really been a one sided market 708 00:49:15,639 --> 00:49:19,840 and it's something that that they're going to try to get ahold of next weekend. 709 00:49:19,880 --> 00:49:23,000 We'll see what happens. Um China continues to slow. They reported a 710 00:49:23,079 --> 00:49:28,639 six point seven percent increase in GDP. I don't know how the heck that 711 00:49:28,719 --> 00:49:31,519 happened. That bears no resemblance to any other number that we've been seen. 712 00:49:32,119 --> 00:49:36,960 China's government they can pretty much just put out whatever they want. I don't 713 00:49:37,000 --> 00:49:39,159 I just don't believe the number. They've got high unemployment, they've got COVID 714 00:49:39,239 --> 00:49:45,719 related closures, they've got a real estate bubble, they related closures still and 715 00:49:45,800 --> 00:49:50,280 may not hear that absolutely, and they still got plunging exports, and they've 716 00:49:50,320 --> 00:49:54,679 got a youth unemployment above twenty percent, and companies continue to leave their their 717 00:49:54,679 --> 00:49:59,440 factories. They continue to move them to Indonesia, Vietnam, India, Yes, 718 00:49:59,559 --> 00:50:00,920 and move an amount of China. Yeah, sick of them, and 719 00:50:00,960 --> 00:50:05,159 it's it's you can they're feeling it. And on China's point, I saw 720 00:50:05,199 --> 00:50:08,280 an article talking about gig ping saying that China's going to decide its own path 721 00:50:08,400 --> 00:50:13,360 to reduce carbon emissions. We had one of our representations, no path, 722 00:50:13,559 --> 00:50:15,800 Well exactly, we had one of our representations over there China try to make 723 00:50:15,840 --> 00:50:21,559 a deal about climate change or whatever, and nothing happened about it, and 724 00:50:22,079 --> 00:50:25,480 g went on there you know, CCTV and says, our path, our 725 00:50:25,519 --> 00:50:31,000 method, pace and intensity to achieve our carbon neutral goal will be determined by 726 00:50:31,000 --> 00:50:35,000 ourselves and will never be influenced by others. Well, there you go, 727 00:50:35,400 --> 00:50:38,199 right, that Paris accord working and what they're one eighth of the entire world. 728 00:50:38,360 --> 00:50:40,800 Yeah, and then you got India on the other hand, and nobody 729 00:50:42,119 --> 00:50:45,400 any attention to at all. And we're the ones that's supposed to make the 730 00:50:45,760 --> 00:50:49,719 dent in things. We're supposed to We're supposed to live our clean lives and 731 00:50:49,719 --> 00:50:53,159 get everything exactly spotless and make very little, if any difference in the global 732 00:50:53,559 --> 00:50:59,559 a global climate, right, well, because we're only a small portion of 733 00:50:59,559 --> 00:51:01,239 it. You know, it's all China's fault that we have all this hot 734 00:51:01,280 --> 00:51:06,320 summer right here in Tucson and Phoenix. Right. That's crazy, isn't it. 735 00:51:06,360 --> 00:51:09,320 I mean I was up in Phoenix Sunday and Monday of this past week. 736 00:51:09,360 --> 00:51:15,360 I had a nephew from San Diego whose sun plays baseball and he's sixteen 737 00:51:15,760 --> 00:51:17,599 at a high school baseball tournament with thirty teams in it, but kind of 738 00:51:17,599 --> 00:51:22,119 a big deal. There aren't many places in the country where you can get 739 00:51:22,159 --> 00:51:25,519 that many baseball fields in a small geographic area, and that, of course 740 00:51:25,519 --> 00:51:30,519 it's because of spring training. And I was Sunday morning at eight am, 741 00:51:30,599 --> 00:51:34,800 I was sitting at a one hundred and two degrees a day that actually got 742 00:51:34,800 --> 00:51:38,320 to one eighteen. Fortunately we were out of there by ten and because of 743 00:51:38,400 --> 00:51:42,679 the heat, they started the game on Monday at seven am, and it 744 00:51:42,760 --> 00:51:46,519 was still one hundred degrees at seven am. It was just miserable, and 745 00:51:46,599 --> 00:51:53,119 I think that God can send us either to heaven or to Phoenix. Boy, 746 00:51:53,239 --> 00:51:55,199 it really I feel bad for him. I mean, it is just 747 00:51:55,320 --> 00:51:59,960 beastly right now. Sunday night, I had parked a car and walking towards 748 00:52:00,199 --> 00:52:02,719 the hotel and there was a breeze. My goodness, wasn't even refreshing. 749 00:52:02,840 --> 00:52:07,039 No, I just brutal blow dryer. Yeah, the sun was down. 750 00:52:07,079 --> 00:52:08,440 It was about ten o'clock at night and the wind was blown. It was 751 00:52:08,440 --> 00:52:14,519 still one hundred degrees and wow, this is I've lived in Arizona for fifty 752 00:52:14,599 --> 00:52:16,480 years and this is this is as bad as I've seen it. I think 753 00:52:16,559 --> 00:52:22,480 this is probably a record July for Tucson. You know, our normal temperature 754 00:52:22,480 --> 00:52:24,360 in July is one hundred and one and it hasn't been one hundred and one 755 00:52:24,440 --> 00:52:28,199 for a month. Yeah, I mean Arizona. The state broke its record 756 00:52:28,239 --> 00:52:31,960 for most days above one ten in a row of phoenix well phoenixes and as 757 00:52:32,400 --> 00:52:37,280 not the state phoxes in Arizona. Disgusting talent. Where you went to call 758 00:52:37,360 --> 00:52:39,639 it phoenix is in Arizona day. I know you, I know you don't 759 00:52:39,679 --> 00:52:43,800 got ASU education, so you don't understand the phoenix is in Arizona. But 760 00:52:43,920 --> 00:52:49,480 it is. Yeah. They Monday of this past week it tied the record 761 00:52:49,559 --> 00:52:52,880 for most consecutive hundred and ten degree days, and every day since it's been 762 00:52:52,920 --> 00:52:55,480 above one hundred and ten, So I look on their think on their weather 763 00:52:55,559 --> 00:53:00,079 too. It doesn't get below one hundred and ten until next Sunday, and 764 00:53:00,119 --> 00:53:04,360 that high as one hundred and nine. It's it's it's getting national hid here 765 00:53:04,400 --> 00:53:07,559 because it's five ten degrees cooler, is a lot better. It's getting national 766 00:53:07,599 --> 00:53:09,840 headlines because I'm hearing about it from people from all over the country. Get 767 00:53:09,880 --> 00:53:13,679 front from the East coast asking me if we're living back down here, Yeah, 768 00:53:13,800 --> 00:53:15,480 how's life? Yeah, it really is something. Oil was up a 769 00:53:15,519 --> 00:53:20,920 dollar seventy this week to seventy seven dollars. That's a three month high. 770 00:53:21,039 --> 00:53:23,840 Gold was up four bucks to nineteen sixty four. Todd that ten year two 771 00:53:23,920 --> 00:53:28,480 year spread as back to one percent. Yeah, I saw that it had 772 00:53:28,480 --> 00:53:31,760 gotten a little smaller than that, but last week we saw declining. The 773 00:53:31,760 --> 00:53:38,239 widening of that spread again is indicative of a bond market that believes the economy 774 00:53:38,320 --> 00:53:43,519 is going to go into a slowdown. And the bond market is a reminders 775 00:53:43,599 --> 00:53:45,880 three times as big as the stock market. Yeah. I think it's really 776 00:53:45,880 --> 00:53:50,360 hard for people to picture a slowing of the economy because what people normally do 777 00:53:50,440 --> 00:53:52,840 is they just look at the SMP five hundred, and that's their gauge on 778 00:53:52,920 --> 00:53:58,039 an economy everything's going great right where when you really look at the economic numbers, 779 00:53:58,519 --> 00:54:01,519 not everything's going great. It's fine, right, nothing's really bad right 780 00:54:01,599 --> 00:54:07,360 now, but we are still seeing inflation come down, which means growth is 781 00:54:07,440 --> 00:54:10,440 stopping. Right. I think it's that Goldie Locks scenario, which is which 782 00:54:10,519 --> 00:54:15,000 is the Fed has done raising interest rates, which I don't think is true, 783 00:54:15,119 --> 00:54:20,159 and we're going to avoid recession. Bond market says no or not. 784 00:54:20,639 --> 00:54:22,400 I don't know who would think the Fed's done raising interest rates either. They 785 00:54:22,480 --> 00:54:25,760 keep saying they're gonna do it at least twice. They've been very transparent, 786 00:54:25,800 --> 00:54:30,079 haven't they, And even when said they paused it, but they're not gonna 787 00:54:30,079 --> 00:54:34,119 stop. Right the last FED meeting, the expectation was that they would drop 788 00:54:34,159 --> 00:54:37,679 interest rates a couple of times this year, and Paul came out and said 789 00:54:37,679 --> 00:54:38,880 we're gonna raise them two more times. No. That would have sent the 790 00:54:38,920 --> 00:54:44,320 market down five hundred two thousand points six months ago. And and then this 791 00:54:44,599 --> 00:54:46,239 in this environment where all news as good and as they go, oh well 792 00:54:46,360 --> 00:54:51,280 they're almost done, they're almost done. You know, it's very optimistic market 793 00:54:51,400 --> 00:54:52,679 right now. It is. Yeah, it's because it's running up. It's 794 00:54:52,800 --> 00:54:55,800 not on a downtrend right now, it turns to a downtrend, and it's 795 00:54:55,840 --> 00:54:59,800 gonna be very pessimistic. I think what the feed is really looking for now 796 00:54:59,880 --> 00:55:04,719 is slow down in wage growth right key, because the labor markets so strong. 797 00:55:04,880 --> 00:55:07,559 Inflation is coming down. But if you have a strong labor market, 798 00:55:07,000 --> 00:55:10,880 you'll hit a you know, floor where you just can't lower it anymore until 799 00:55:10,880 --> 00:55:15,920 people start losing their jobs. Yeah, and they're going to keep going and 800 00:55:15,960 --> 00:55:19,239 people are going to lose their jobs because of this. They you get to 801 00:55:19,280 --> 00:55:22,400 feeling that they're going to keep racing race until some until they break something. 802 00:55:22,719 --> 00:55:24,840 Yeah. Or inflation is two percent, like there's a goal has been since 803 00:55:24,840 --> 00:55:30,239 the beginning. Yeah, And I think we may see because a big chunk 804 00:55:30,239 --> 00:55:35,119 of the decline in inflation in July in June, I get the months all 805 00:55:35,159 --> 00:55:40,639 mixed up. In June was plummeting, plummeting gasoline prices, and now gasoline 806 00:55:40,639 --> 00:55:45,239 prices are on their way back up again. So we may come in to 807 00:55:45,880 --> 00:55:52,480 August and see a July inflation number that actually is moving up and that that 808 00:55:52,880 --> 00:55:54,559 will not be well received. Yeah, I mean right now, the markets 809 00:55:54,920 --> 00:55:58,719 kind of feels like a fairytale in the sense that it's over forty five hundred, 810 00:55:58,719 --> 00:56:00,320 which we just didn't think you would even get over three hundred. So 811 00:56:00,639 --> 00:56:02,719 I would say, right now is not the time to just sit back and 812 00:56:02,760 --> 00:56:06,199 be like everything's great, because your market looks like it's up, because it 813 00:56:06,239 --> 00:56:08,519 could turn quick, and it can turn down fast. So it's time to 814 00:56:08,519 --> 00:56:14,679 look if you have any ifs or buts about your retirement plan or anything like 815 00:56:14,679 --> 00:56:16,480 that, it's time to look at it now. So if you can make 816 00:56:16,480 --> 00:56:19,559 a change, or if you want to make a change or world be profits 817 00:56:19,559 --> 00:56:22,599 that you could probably take with the market running up so high. But then 818 00:56:22,679 --> 00:56:25,480 you got to make sure your risk tolerance is still in line with where it 819 00:56:25,599 --> 00:56:29,559 was last year when we were down twenty percent, because we are one week 820 00:56:29,599 --> 00:56:34,480 away from the worst sixty day period for the market every year. If to 821 00:56:34,519 --> 00:56:37,559 sent them in flips, it kick flip quick, especially if this thing actually 822 00:56:37,599 --> 00:56:43,360 does hit the rebalance on Monday, if it actually does have an issue to 823 00:56:43,480 --> 00:56:45,039 the tech stocks that have been running up, then it could turn fast. 824 00:56:45,079 --> 00:56:47,840 It could turn down fast. Also, we have meta reporting next week. 825 00:56:47,880 --> 00:56:52,119 The week following we'll have Apple, Apple and Amazon. When you have those 826 00:56:52,159 --> 00:56:57,400 big names reporting earnings, that can kind of lead to a catalyst where we 827 00:56:57,480 --> 00:57:00,559 can kind of start to see But again, I mean, earnings are probably 828 00:57:00,599 --> 00:57:04,320 not going to be too bad for those companies. Yeah right, and so 829 00:57:04,480 --> 00:57:07,800 well those are the those are the growth companies, right Yeah. Um Bitcoin 830 00:57:08,079 --> 00:57:10,519 uh Todd, you watch it closer than I do. But it's been drifting 831 00:57:10,559 --> 00:57:14,840 lower since that twenty five percent pop at the end of It's truly just been 832 00:57:14,840 --> 00:57:17,559 flagging the last couple of weeks since that pop, waiting for some news out 833 00:57:17,559 --> 00:57:22,280 of SEC that the interest rates have flattened out too. They I noticed the 834 00:57:22,360 --> 00:57:28,400 ten year treasury rate was the same of Friday as it was in before Memorial 835 00:57:28,519 --> 00:57:32,119 Day, So it's done absolutely nothing. Um. Schwab reported better than expected 836 00:57:32,360 --> 00:57:37,360 results that sent the stock up twelve percent on Tuesday, and KRI, which 837 00:57:37,400 --> 00:57:43,679 is the regional bank ETF, had its best rally in four months. That 838 00:57:43,800 --> 00:57:47,199 was followed by good earnings from Northern Trust, one of the biggest and Schwab 839 00:57:47,320 --> 00:57:52,159 interestingly has rallied off of the off of that low fifty percent. Swab's fifty 840 00:57:52,199 --> 00:57:57,239 percent I was kind of surprised that they got caught up in the whole thing 841 00:57:57,679 --> 00:58:00,719 um because that banking is a part of their operation. But certainly they're not 842 00:58:00,800 --> 00:58:05,880 a regional bank per se, so that would have been a good a good 843 00:58:05,880 --> 00:58:08,000 bye then. And I looked at into me. I tried to buy it 844 00:58:08,039 --> 00:58:10,360 here, and I, yeah, but what if another bank goes under? 845 00:58:10,360 --> 00:58:15,639 And you know, we try to. When you're investing other people's money, 846 00:58:16,199 --> 00:58:20,079 you tend to be more cautious than with your own, which is why our 847 00:58:20,119 --> 00:58:24,000 clients are doing much better than we're doing. Right. We're very aggressive. 848 00:58:24,199 --> 00:58:29,039 We are very aggressive. I got a little electric vehicle update. Seems like 849 00:58:29,079 --> 00:58:32,840 every week I have a little something in the electric vehicle arena because it's very 850 00:58:32,880 --> 00:58:37,280 popular right now. Last week I told you guys that none of the electric 851 00:58:37,360 --> 00:58:42,760 vehicles have a spare tire, which makes traveling outside of any city a little 852 00:58:42,760 --> 00:58:45,480 bit problematic. And like I said earlier, I spent two days in Phoenix 853 00:58:45,559 --> 00:58:50,199 last week, where the temple is one hundred and eighteen degrees. Not surprisingly, 854 00:58:50,280 --> 00:58:52,639 on my two hundred and fifty mile trip to and from Phoenix, I 855 00:58:52,639 --> 00:59:00,159 actually was counting the number of lexuses, number of teslas I got the one 856 00:59:00,719 --> 00:59:02,880 there was one. It wasn't mine, but there was one Tesla. We 857 00:59:02,920 --> 00:59:07,760 saw one Tesla on the freeway between Tucson and Phoenix. Between Phoenix and Tucson, 858 00:59:08,079 --> 00:59:13,639 the two hundred fifty mile round trip one and really that's not surprising. 859 00:59:13,719 --> 00:59:16,519 We go to LA four or five times a year. I have never seen 860 00:59:17,280 --> 00:59:22,880 a Tesla on the freeway between Phoenix and LA never, and I do it 861 00:59:22,920 --> 00:59:27,719 four or five times a year, been doing it for years. Imagine being 862 00:59:27,760 --> 00:59:30,480 about fourty and you want I think I know why. Imagine being about forty 863 00:59:30,519 --> 00:59:37,079 miles west of HeLa bend one hundred and twenty degrees outside right, and you 864 00:59:37,079 --> 00:59:42,639 have flat tire. Now what how long would it take Tesla road side assistance 865 00:59:42,719 --> 00:59:45,840 to get to you? Now you could sit in your air conditioned car, 866 00:59:45,119 --> 00:59:50,119 right, but then your battery would run down. Now you've got two problems. 867 00:59:51,079 --> 00:59:55,519 So I could certainly understand why people are reluctant to take it on the 868 00:59:55,559 --> 00:59:58,880 road. Although I do no clients to take it to San Diego. I 869 00:59:58,880 --> 01:00:00,719 do no clients that I have taken it to the White Mountains. One went 870 01:00:00,760 --> 01:00:07,440 to Albuquerque, another one went to Las Vegas in their Tesla. But you'd 871 01:00:07,440 --> 01:00:09,400 have to have a lot of time on your hands because you're gonna be giving 872 01:00:09,440 --> 01:00:14,039 the superchargers, and you're gonna be at those superchargers forty five minutes to an 873 01:00:14,039 --> 01:00:16,440 hour minimum. It's got to be so much more easy to have an electric 874 01:00:16,440 --> 01:00:21,960 car in the East Coast. I would unconnected those cities. Are you know, 875 01:00:22,079 --> 01:00:27,039 there's always a city just a yeah, yeah, I think so. 876 01:00:27,719 --> 01:00:30,719 I will say though, that the at home, if you're going to get 877 01:00:30,719 --> 01:00:34,920 an electric vehicle, the very first thing you've got to do before you take 878 01:00:35,000 --> 01:00:37,840 delivery of the vehicle is get your at home charging set up. Because if 879 01:00:37,880 --> 01:00:42,800 you don't have your at home charging set up and you get the vehicle. 880 01:00:42,840 --> 01:00:45,559 What happened to me as I was told the delivery would be July August, 881 01:00:46,000 --> 01:00:52,719 so I scheduled July nineteenth to have my home charger put in. It came 882 01:00:52,920 --> 01:00:58,960 June twenty eighth. By July nineteenth, I hated that car. I hated 883 01:00:59,039 --> 01:01:02,880 that car with a passion. And it's a wonderful car, but but having 884 01:01:02,880 --> 01:01:08,840 to go to the supercharger, having to watch your charge constantly, it was 885 01:01:08,920 --> 01:01:13,119 so annoying, and I was so tired of it. It was just it 886 01:01:13,239 --> 01:01:16,679 was just unbelievable. So get that set up, get that set up ahead 887 01:01:16,679 --> 01:01:21,039 of time. Let's talk a little bit about electric vehicle costs, because the 888 01:01:21,440 --> 01:01:23,639 car itself is pretty expensive, right, but there are a few other things 889 01:01:23,639 --> 01:01:28,360 that have to go into it. In a wall charger, a wall charger 890 01:01:28,400 --> 01:01:31,480 can be five hundred bucks, which is one of the reasons why some people 891 01:01:31,519 --> 01:01:35,679 have gone with portable chargers. They like the portable charger better. But even 892 01:01:35,719 --> 01:01:38,320 if you have a portable charger, you're going to pay an electrician five hundred 893 01:01:38,360 --> 01:01:42,599 to fifteen hundred bucks to come in and give you a two hundred and forty 894 01:01:42,679 --> 01:01:45,679 volt outlet. You've got to have a two hundred forty vote outlets for the 895 01:01:45,719 --> 01:01:49,840 electric car charger. So the first thing you're gonna do is you're gonna spend 896 01:01:49,880 --> 01:01:52,760 five hundred hund a charger. You're going to spend a round one thousand bucks 897 01:01:52,800 --> 01:01:57,960 to get the outlet set up. Right, there's an entire industry springing up 898 01:01:57,960 --> 01:02:01,480 around things that Elon doesn't include. We learned last week that he doesn't include 899 01:02:01,480 --> 01:02:06,960 spare tires. Well, for five hundred dollars, you can buy a Tesla 900 01:02:07,079 --> 01:02:10,280 spare tire kit and this car has two trunks, so believe me, there's 901 01:02:10,280 --> 01:02:13,920 a place to put it. Oh, you spend five hundred bucks. You 902 01:02:13,960 --> 01:02:16,800 can get a test charging chord. You understand that Tesla has no longer come 903 01:02:16,840 --> 01:02:21,360 with a charging chord. Isn't that interesting? Be like buying a toaster with 904 01:02:21,440 --> 01:02:24,320 no plug or an iPhone without a charger without ant of Apple. Yeah, 905 01:02:25,079 --> 01:02:29,599 everything imparts and you gotta buy pay fifty bucks. Since when do they not 906 01:02:30,079 --> 01:02:35,360 bring the charger in with it? They don't bring the block anymore. Oh, 907 01:02:35,400 --> 01:02:37,119 they don't wire only they just give you the okay, yeah, but 908 01:02:37,239 --> 01:02:40,079 then you got to buy the headphones. You gotta buy the case, you 909 01:02:40,119 --> 01:02:43,880 gotta buy the screen protector. Got no spare tire, you got no charger, 910 01:02:43,920 --> 01:02:45,920 you got no charging chord. All of these things are All of these 911 01:02:45,920 --> 01:02:51,039 things are extra. On the positive side, you're gonna save about twenty five 912 01:02:51,119 --> 01:02:54,519 hundred dollars a year in gasoline. And here's another place you're gonna save money. 913 01:02:54,599 --> 01:02:59,719 Turns out, the most technically advanced car on the road, my model 914 01:02:59,760 --> 01:03:05,639 Way, does not have the hardware to pick up serious satellite radio. So 915 01:03:05,760 --> 01:03:07,400 if you have a Tesla, you're not going to be paying for serious satellite 916 01:03:07,440 --> 01:03:12,440 radio because they can't get it. And I gonna pay for oil oil changes 917 01:03:12,519 --> 01:03:15,960 either though, So there's some savings, no transmission change. I continue to 918 01:03:15,000 --> 01:03:21,760 be enamored with the car. Is technologically spectacular, it's fun to drive, 919 01:03:21,840 --> 01:03:27,119 it's really fast, it's it's a very comfortable ride, and I think with 920 01:03:27,239 --> 01:03:30,880 the home charger, I've resolved the charging issue. But there are things you 921 01:03:30,920 --> 01:03:35,039 need to know ahead of time before you go down that road. Dylan, 922 01:03:35,559 --> 01:03:38,159 Yeah, speaking of Tesla, though, they their profit margins drop allow ten 923 01:03:38,159 --> 01:03:42,440 percent for the first time since twenty twenty one. That's why they're stock dropping 924 01:03:42,440 --> 01:03:47,000 the Reporter Ernis last week. They're making each car cheaper and that's cutting into 925 01:03:47,039 --> 01:03:50,320 their profits, but they have to make them cheer. They have because of 926 01:03:50,360 --> 01:03:53,000 the competition exactly, and it's funny because they're kind of eating each other alive. 927 01:03:53,039 --> 01:03:59,239 A four dropped the F one fifty Lightning by ten thousand dollars. I 928 01:03:59,280 --> 01:04:02,119 mean, that's just what petition does, exactly, especially for Tesla because they 929 01:04:02,159 --> 01:04:06,559 have a lot more inventory um than than the other ev makers because they've been 930 01:04:06,559 --> 01:04:11,119 doing it for longer. So they's second quarter twenty two, Tesla's operating profit 931 01:04:11,119 --> 01:04:14,840 margin was fifteen percent. This year of the second quarter was nine percent. 932 01:04:15,239 --> 01:04:17,320 Right, that just comes from them, said He'll cut prices further for he 933 01:04:17,320 --> 01:04:21,000 has to to keep his market share. But we know that what was there 934 01:04:21,039 --> 01:04:25,199 was a certain price where you don't get the credit. Yes, yeah, 935 01:04:25,239 --> 01:04:28,440 and I'm not I'm not sure exactly what it is, but I know they 936 01:04:28,559 --> 01:04:32,360 cut the price of a couple of the models. Maybe it's fifty thousand below 937 01:04:32,480 --> 01:04:36,039 fifty thousand, so they didn't get a hunt the seventy five tack credit, 938 01:04:36,199 --> 01:04:41,000 so price went back up. So there's a there's a limit to how far 939 01:04:41,039 --> 01:04:45,920 down they It's it's it's funny to hear Ford cutting prices because Ford's biggest problem 940 01:04:46,000 --> 01:04:50,159 is delivery. It's producing enough cars. They may be the only car company 941 01:04:50,159 --> 01:04:55,000 out there, they electric car company out there. They can't make enough cars 942 01:04:55,599 --> 01:05:00,239 to meet demand. And the stocks been been dropping pretty steadily over the last 943 01:05:00,280 --> 01:05:05,760 few days. Unconcerned about that. Maybe this is their employ to get more 944 01:05:05,800 --> 01:05:11,679 market share. They already have the demand for dropping the price. They already 945 01:05:11,679 --> 01:05:14,480 have the demand there because like you said, they're having production issues in the 946 01:05:14,480 --> 01:05:16,199 sense of how fast they can do it, but they're trying to up it. 947 01:05:16,199 --> 01:05:18,559 They're trying to increase it more to get with Tesla in the market share. 948 01:05:19,039 --> 01:05:21,960 I get dollars. Yeah, but if at the same time, I 949 01:05:21,960 --> 01:05:27,000 don't. You can get a Tesla in two or three weeks, and the 950 01:05:27,079 --> 01:05:30,920 Ford Moki, the little most dying order, the Lightning pick up, you're 951 01:05:30,960 --> 01:05:35,119 talking three to twelve months. Yeah, it's just if you're wanting an electric 952 01:05:35,199 --> 01:05:40,440 if you got the electric car bug, you're not gonna wait three to twelve 953 01:05:40,480 --> 01:05:43,039 months to get a car. You're gonna say, well, wait a second, 954 01:05:43,079 --> 01:05:46,400 I can go over there and get one of those a Tesla people that 955 01:05:46,440 --> 01:05:51,119 have been doing this for a decade. I can get one now, or 956 01:05:51,159 --> 01:05:54,880 I can wait six to twelve months for somebody that's kind of the new kid 957 01:05:54,920 --> 01:05:58,760 on the block. Right. Oh, doesn't make sense, But again I 958 01:05:58,800 --> 01:06:02,880 really think I don't know if four can do their their recalls online the way 959 01:06:02,920 --> 01:06:09,559 Tesla could either. The things that Tesla can do online is amazing, incredible. 960 01:06:09,639 --> 01:06:15,679 Yeah, again, get a charging station installed before you get the car, 961 01:06:15,719 --> 01:06:18,559 and I think you'll have a really good experience. You know, there's 962 01:06:18,599 --> 01:06:23,480 something that came across my docket that I um, you know, it was 963 01:06:23,480 --> 01:06:27,039 on the Secure two point zero Act that was passed last year, and I 964 01:06:27,039 --> 01:06:32,119 didn't really fully comprehend what was going on here. But four four one ks 965 01:06:32,119 --> 01:06:36,199 there is going to be a change starting in twenty twenty four. Individuals know 966 01:06:36,280 --> 01:06:41,199 that when they reach age fifty, you reached a ketchup provision, which means 967 01:06:41,199 --> 01:06:45,360 you can increase your contribution to your four one K by seven thousand, five 968 01:06:45,440 --> 01:06:49,119 hundred dollars right on top of your normal contribution limit. But in twenty twenty 969 01:06:49,119 --> 01:06:53,400 four, if the taxpayer has an income of at least one hundred and forty 970 01:06:53,400 --> 01:06:58,760 five thousand per year, the ketchup contribution can no longer be put into the 971 01:06:58,840 --> 01:07:01,159 pre tax four on one. It will have to be treated as a ROTH 972 01:07:01,239 --> 01:07:05,159 contribution and grow after tax. Wow. The issue with that, though, 973 01:07:05,280 --> 01:07:10,239 is the company's plan has to offer the ROTH four own k aspect. If 974 01:07:10,239 --> 01:07:13,320 they don't, then that person is just out of luck. They can't contribute 975 01:07:13,320 --> 01:07:18,119 another seventy five hundred dollars to anything. Wow. So very interesting. And 976 01:07:18,159 --> 01:07:23,239 in twenty twenty five they couldn't even do a broth no if the company's plans 977 01:07:23,239 --> 01:07:27,159 because some company plans still don't offer the ROTH four own k option. If 978 01:07:27,159 --> 01:07:29,920 they don't offer that, then the person, if they make over one forty 979 01:07:29,920 --> 01:07:33,480 five, they cannot contribute seventy five dollars to anywhere they just get why would 980 01:07:33,519 --> 01:07:39,639 they do? That's good encouraging companies to offer the four own k roth can 981 01:07:39,679 --> 01:07:41,559 you Well, you gotta see if you go, Dan, I don't think 982 01:07:41,559 --> 01:07:45,039 we have it, do we? Uh No, it's something you can you 983 01:07:45,039 --> 01:07:48,840 can normally add pretty easily. It's it's a lot more available now in today's 984 01:07:48,920 --> 01:07:54,559 four own case popular. Um. But yeah, so obviously I arrest is 985 01:07:54,599 --> 01:07:59,239 thinking they don't want to defer income tax income anymore, so they would rather 986 01:07:59,599 --> 01:08:02,320 you contribute after tax instead of pre tax on that ketchup provision. Well they 987 01:08:02,320 --> 01:08:04,639 have to do is just open up the walth I away and say there's no 988 01:08:04,719 --> 01:08:09,639 limit to it then, which would just be just as good. You know. 989 01:08:09,719 --> 01:08:12,360 Well then a lot of people would be really happy if that was the 990 01:08:12,400 --> 01:08:15,920 case, for sure, because roth IRA's a really good play with no limit. 991 01:08:15,000 --> 01:08:17,119 Yeah. I don't think I RUS will ever increase that too much. 992 01:08:17,159 --> 01:08:20,880 Oh no, No, for the seventy five hundred, he said no limit, 993 01:08:21,039 --> 01:08:24,800 so you can contribute to sixty five hundred, and then on top of 994 01:08:24,840 --> 01:08:29,079 it, the seventy five What you're saying, Yeah, what I'm saying is 995 01:08:29,720 --> 01:08:31,920 a lot you can't maybe do sixty five hundred if you're a certain level. 996 01:08:31,960 --> 01:08:35,000 But if you if you don't have a walthay where you're to catch up, 997 01:08:35,720 --> 01:08:38,920 you're able to put it. You can't able to put a catch up in 998 01:08:38,960 --> 01:08:42,600 a regular walthi away. That's all as of now, you cannot. Matter 999 01:08:42,640 --> 01:08:45,119 what how much money you make, as of now, you cannot. They 1000 01:08:45,119 --> 01:08:47,319 said, you're out of luck if they don't have a roth full of course, 1001 01:08:47,720 --> 01:08:51,159 but there is a new special catchup provision that's starting in twenty twenty five. 1002 01:08:51,279 --> 01:08:54,800 So we'll talk about this more. So when was the other one? 1003 01:08:55,279 --> 01:08:59,159 This is in twenty twenty four, starting next year. Oh man, Yeah, 1004 01:08:59,199 --> 01:09:01,720 for twenty twenty five, if you're between the ages of sixty and sixty 1005 01:09:01,760 --> 01:09:06,880 three, your contribution limit, your catch up contribution will be equal to either 1006 01:09:06,960 --> 01:09:11,279 the greater of ten thousand dollars or one hundred and fifty percent of the standard 1007 01:09:11,359 --> 01:09:15,439 catch up contribution limit for twenty twenty four, and that ten thousand dollars limit 1008 01:09:15,479 --> 01:09:18,119 will be indexed for inflation. So they're trying to help sixty to sixty three 1009 01:09:18,159 --> 01:09:21,680 year olds put more money in their retirement. Um, if you know, 1010 01:09:21,800 --> 01:09:26,479 catching up, who comes up with this stuff? The high rise and the 1011 01:09:26,640 --> 01:09:29,079 dates and stuff. You know what I'm saying, Well, why is a 1012 01:09:29,159 --> 01:09:31,479 sixty five year old who's working more not wanting to put more money away? 1013 01:09:31,520 --> 01:09:35,279 And what made them choose one hundred forty five thousand. Well that's the that's 1014 01:09:35,319 --> 01:09:40,119 the roth limit. Yeah, but why the previous limit. That's what I'm 1015 01:09:40,119 --> 01:09:44,319 saying. It's it's it's probably it's probably based on you know, they know 1016 01:09:44,880 --> 01:09:49,560 the average just so they know what taxing on the money you get then you 1017 01:09:49,680 --> 01:09:53,000 then you put then then you have to invest it, and then you getting 1018 01:09:53,000 --> 01:09:55,159 taxed on that wo you put in the row with you're not getting taxed on 1019 01:09:55,199 --> 01:09:59,720 it. So when they say that not wasting taxes, that will all wasting 1020 01:09:59,760 --> 01:10:02,000 tax Oh yeah, oh yeah, hey what that was up in When I 1021 01:10:02,039 --> 01:10:05,159 was up in Phoenix, I saw the waymo uh you familiar with that, 1022 01:10:05,239 --> 01:10:09,920 the weaymo one. Oh yeah, yeah, that's pretty that's pretty pretty incredible. 1023 01:10:10,039 --> 01:10:17,960 That thing is waymouh one became the first uh autonomous driving taxicab company for 1024 01:10:18,039 --> 01:10:21,880 profit taxicab company in the world, and they've got them all over Phoenix and 1025 01:10:21,920 --> 01:10:27,159 there are people that actually get in those things without a driver. Yeah. 1026 01:10:27,520 --> 01:10:30,199 Well, the gizmos on those things are just like I don't even know what 1027 01:10:30,239 --> 01:10:32,000 they are. You know, they have all those like, yeah, turbines 1028 01:10:32,079 --> 01:10:35,560 and then all these cameras. People one came to the one came to the 1029 01:10:35,640 --> 01:10:39,800 phone. So you're when you register on the phone and the phone comes, 1030 01:10:39,800 --> 01:10:42,600 it's connected. Like, why didn't you guys do that? Left you up 1031 01:10:42,600 --> 01:10:46,800 there because we're fine with ubers. I don't have the Waymo app on my 1032 01:10:46,840 --> 01:10:48,960 phone. I don't. I don't think I could get in the backstreet of 1033 01:10:48,960 --> 01:10:51,479 a car with no driver. Oh I could care less about that. No, 1034 01:10:51,680 --> 01:10:55,000 this generation, I don't think we'll care about that. Yeah, well 1035 01:10:55,079 --> 01:10:59,920 you got to lose, you know. Yeah, you know, at the 1036 01:11:00,640 --> 01:11:03,479 end of the day, what you're not doing is worried about the Uber driver 1037 01:11:03,520 --> 01:11:06,479 that wants to kill you. Exact. Go, there's gonna be a day 1038 01:11:06,479 --> 01:11:10,000 where it's gonna be mandated that you have to have a self driving car. 1039 01:11:10,039 --> 01:11:11,800 I mean, if you think about twenty years, it's going to be the 1040 01:11:11,840 --> 01:11:17,000 part where humans are such bad drivers compared to the autonomous drivers that we can't 1041 01:11:17,000 --> 01:11:21,239 allow humans to drive. You can only drive on a racetracker. Yeah, 1042 01:11:21,279 --> 01:11:26,520 it's amazing how everything that I watched as a kid on the Jetsons and Dick 1043 01:11:26,560 --> 01:11:30,359 Tracy all coming through. There's much later than what they expected. I don't 1044 01:11:30,520 --> 01:11:32,239 know what to expect. I don't think I remember watching the jets and goal 1045 01:11:32,319 --> 01:11:35,319 this is gonna happen in such and such time, right, you know, 1046 01:11:35,439 --> 01:11:39,239 But now it's all coming through. Remember the Jetsons. You have to watch 1047 01:11:39,279 --> 01:11:42,039 it. Of course, did you watch the Jetsons? No, the mind's 1048 01:11:42,079 --> 01:11:44,640 back to the future. You have to go watch the Jetsons. Okay, 1049 01:11:44,720 --> 01:11:47,600 now go find it somehow and watch it and go, oh my god, 1050 01:11:47,720 --> 01:11:51,520 look at all these things in nineteen sixty that they were talking about. They 1051 01:11:51,560 --> 01:11:57,359 were talking about telephones that you see people, okay, computers that you see 1052 01:11:57,399 --> 01:12:02,119 people flying cause what else? Robots for maids. Yeah? Um, you 1053 01:12:02,159 --> 01:12:05,920 know what's another really good book that predicted the future? Nineteen eighty four? 1054 01:12:09,079 --> 01:12:13,720 Nineteen eighty four. Back it's the Money Mattie Show. We got two more 1055 01:12:13,760 --> 01:12:17,800 segments left. I hope that you I'm enjoying it. Thank you say, 1056 01:12:17,880 --> 01:12:32,520 it's all welcome back. You're listening to The Money Matter Show. I am 1057 01:12:32,600 --> 01:12:35,920 Dylan Greenberg. I'm here with this Sherwood, Todd Glick, and Dean Greenberg. 1058 01:12:36,479 --> 01:12:41,439 I got a fun fact what's a fun factor of facts? And actually, 1059 01:12:41,439 --> 01:12:44,159 I've got I've got to give credit to Judge Judy because you know, 1060 01:12:44,239 --> 01:12:46,600 if I like, one of my favorite things that nightties to go home after 1061 01:12:46,600 --> 01:12:50,399 I've had stopper, sit down on the couch and just there's four Judge Judy's 1062 01:12:50,720 --> 01:12:54,800 record during the day, I grab one of them and just watch it. 1063 01:12:54,560 --> 01:12:58,760 It seems like everybody on there that is involved in the traffic accident is because 1064 01:12:58,960 --> 01:13:03,039 they're uninsured. So it got me to thinking, we're supposed to have insurance 1065 01:13:03,279 --> 01:13:11,159 by law. Correct, So what states would be the states without the largest 1066 01:13:11,199 --> 01:13:15,920 amount with the largest number of uninsured motorists. A little little research, California 1067 01:13:16,039 --> 01:13:19,520 you would think, huh but or Mississippi. Okay, there you go, 1068 01:13:19,520 --> 01:13:24,479 good job, Todd number one. How do you know education is the worst 1069 01:13:24,520 --> 01:13:27,600 there? No, No, I literally guess this because they have the worst 1070 01:13:27,680 --> 01:13:30,199 education system they do. Growing up in South Dakota, we loved in Mississippi 1071 01:13:30,199 --> 01:13:33,800 because we were forty nine and everything, and we're forty eight Arizona. So 1072 01:13:35,560 --> 01:13:40,760 No. Number one is Mississippi. Todd twenty nine point four two louisianaan we're 1073 01:13:40,760 --> 01:13:45,920 talking about the states with the highest number of uninsured motorists. Yeah, and 1074 01:13:45,960 --> 01:13:51,319 mississippis number one with twenty nine point four Number two shocking Michigan twenty five percent. 1075 01:13:51,359 --> 01:13:56,880 Then Tennessee, New Mexico, and Washington states with the fewest number of 1076 01:13:56,880 --> 01:14:00,840 insured motors. This be of places where you want to drive New Jersey, 1077 01:14:00,640 --> 01:14:03,359 New Jersey. Now, why would you say New York because there's not a 1078 01:14:03,359 --> 01:14:06,039 lot of drivers there. So the people that do have it probably have insurance 1079 01:14:06,039 --> 01:14:10,000 because they drive close to each other lots they're gonna get hit. Yeah. 1080 01:14:10,000 --> 01:14:14,640 New York is number three, and only four percent of drivers are uninsured in 1081 01:14:14,680 --> 01:14:16,239 New York. And then any of them are also drivers, like they drive 1082 01:14:16,279 --> 01:14:19,479 people around taxi drivers. That's interesting because I looked at New York and act 1083 01:14:19,560 --> 01:14:24,439 they got more people than anybody have personal drivers. There must be laws there 1084 01:14:24,439 --> 01:14:27,439 that are more strict than our laws. Anyway, Arizona is right in the 1085 01:14:27,479 --> 01:14:30,199 middle, eleven point eight percent uninsured, right in the right, in the 1086 01:14:30,239 --> 01:14:32,600 middle of the back. Yeah, I though it was kind of interesting. 1087 01:14:32,840 --> 01:14:36,399 Oh, don't drive around Mississippi, but do drive around New Jersey. You 1088 01:14:36,399 --> 01:14:39,520 know, there's been a lot of talk. I've heard a lot of talk 1089 01:14:39,560 --> 01:14:44,760 about this New fed Now yep, right. It is not a new central 1090 01:14:44,760 --> 01:14:47,159 bank digital currency. I heard a lot of people talking about is there a 1091 01:14:47,199 --> 01:14:50,279 central bank digital currency getting passed this week? No, it's not. It's 1092 01:14:50,319 --> 01:14:56,920 this service fed now, which basically is a federal Zell as simply as I 1093 01:14:56,960 --> 01:15:00,760 can put that. If you've used Zell, yeah it is. Yeah. 1094 01:15:00,800 --> 01:15:05,119 So Zell is essentially if I need to pay Dave for you know, he 1095 01:15:05,199 --> 01:15:09,319 picked up my lunch, I need to send him ten bucks m. Normally 1096 01:15:09,399 --> 01:15:12,359 it took two or three days for that the process. If I wanted to 1097 01:15:12,399 --> 01:15:15,279 send that to you on a bank with Zell and with ACHK abilities, I 1098 01:15:15,279 --> 01:15:20,039 can send that to you in a single transaction settled this week. On Wednesday, 1099 01:15:20,079 --> 01:15:24,720 the guy came in and installed my electric my charger from my car. 1100 01:15:25,520 --> 01:15:29,079 That afternoon, he texted me the bill and I zelled him the money. 1101 01:15:29,079 --> 01:15:31,840 It was in his bank within minutes, right, And that helps both parties. 1102 01:15:31,960 --> 01:15:34,960 Right. When the settlement is instant, you don't have to worry about 1103 01:15:35,000 --> 01:15:40,319 liabilities or obligations for two or three days. You can use that money instantly 1104 01:15:40,479 --> 01:15:45,039 to turn over and get new products or buy new services. So Zell has 1105 01:15:45,079 --> 01:15:47,439 been very popular and almost all banks have Zell now and it's you know, 1106 01:15:47,479 --> 01:15:50,880 all it is you go into your bank app and the bank has already connected 1107 01:15:50,920 --> 01:15:54,279 to zell and you can send money out that way. It's tied to your 1108 01:15:54,279 --> 01:15:57,119 cell phone and if you know somebody's cell phone number, you can you can 1109 01:15:57,159 --> 01:16:00,199 stall the number. Yeah, email address. Now, this now is trying 1110 01:16:00,199 --> 01:16:05,399 to take no I guess be a competitor to zell Um. And Federal Reserve 1111 01:16:05,960 --> 01:16:10,359 is the one that created it. And it's it's not just for individuals, 1112 01:16:10,399 --> 01:16:15,560 it's also for institutions. And this should help in theory a lot of UM 1113 01:16:15,000 --> 01:16:20,000 obligations that kind of caused some issues in two thousand and eight when instant settlement 1114 01:16:20,119 --> 01:16:26,039 wasn't really available because of the traditional systems UM. You won't have same liquidity 1115 01:16:26,079 --> 01:16:31,760 problems theoretically if you did have this service available to big institutions and stuff, 1116 01:16:31,760 --> 01:16:34,720 that it will be instant, right. Yeah. The one thing I didn't 1117 01:16:34,720 --> 01:16:38,920 like about FED now, which they announced months ago when they first started talking 1118 01:16:38,920 --> 01:16:41,399 about it, was that one of their reasons as to why it's going to 1119 01:16:41,439 --> 01:16:45,479 be good is that stimulus checks can get to your bank faster for you what 1120 01:16:45,199 --> 01:16:47,640 stimulus checks. That was one of their reasons. In fact, when the 1121 01:16:47,720 --> 01:16:50,920 first announce that they said stimulus checks will get to your bank faster. Didn't 1122 01:16:50,960 --> 01:16:55,520 like that, didn't like what they were insinuating. I hope that doesn't go 1123 01:16:55,560 --> 01:16:58,479 down that back. But thing I thought was bad about it, Correct me 1124 01:16:58,479 --> 01:17:01,279 if I'm wrong. I have sent in zell money via zel to all kinds 1125 01:17:01,319 --> 01:17:06,079 of people. I've never sent it to a business. Is it possible to 1126 01:17:06,279 --> 01:17:10,960 zell a business? Well, for example, that person that you that you 1127 01:17:11,079 --> 01:17:14,560 zelled for your electric charger, he's technically a business, well he is, 1128 01:17:14,560 --> 01:17:16,199 but he's an electrician with it for the cell phone. And so there I'm 1129 01:17:16,199 --> 01:17:20,199 talking about, let's say an air conditioning company. I think a good good 1130 01:17:20,199 --> 01:17:23,600 idea is like if you had a car payment, for example, and you 1131 01:17:23,680 --> 01:17:27,600 needed to pay your car another your car bill and say it's it's um doe 1132 01:17:27,640 --> 01:17:30,079 the next day, or you have a late fee and it's ten pm that 1133 01:17:30,199 --> 01:17:32,520 night. If you try to hit you know, pay my bill, it's 1134 01:17:32,520 --> 01:17:34,560 not going to show up till the next day, so you're still going to 1135 01:17:34,640 --> 01:17:39,039 incurre that late fee. If this fed now service is available, you would 1136 01:17:39,079 --> 01:17:42,319 be able to settle same day, even if it's at eleven pm at night. 1137 01:17:42,640 --> 01:17:45,840 The bank will get it before twelve pm, they'll settle it and you'll 1138 01:17:45,880 --> 01:17:48,239 not occur a late fee, So it enables instant settlement a lot quicker. 1139 01:17:48,319 --> 01:17:51,239 And this is what everybody started to think of it. We're going to digital 1140 01:17:51,239 --> 01:17:55,159 currency, sate Dave. You know, this is the biggest feel on the 1141 01:17:55,199 --> 01:17:58,920 twenty ninth of July. We're going to digital co No, this is what 1142 01:17:58,960 --> 01:18:01,640 they're talking about. Yes, it's a digital yes, but it's no different 1143 01:18:01,680 --> 01:18:06,439 than what we've done with everything else. Eventually, will we be cashless society? 1144 01:18:06,640 --> 01:18:11,359 I think so? All right to a point, is that good bad? 1145 01:18:11,479 --> 01:18:15,279 I don't know, because well, these things ninety percent of everybody's transactions 1146 01:18:15,319 --> 01:18:16,960 go through there. I was in QT the other day and you know, 1147 01:18:17,239 --> 01:18:20,119 if you've been in QT, they take them on both sides of the register. 1148 01:18:20,600 --> 01:18:28,680 They're very efficient there. And both of the people were paying cash in 1149 01:18:28,720 --> 01:18:30,840 front of me, and I got up to the guy and I said, 1150 01:18:30,439 --> 01:18:33,319 boy, two people with cash? Who who knew that? And he goes, 1151 01:18:33,399 --> 01:18:38,760 yeah's pretty weird. So cash really is becoming a thing of the past 1152 01:18:38,800 --> 01:18:42,680 already. There is an issue with FED now being able to have eyes on 1153 01:18:42,680 --> 01:18:46,680 all these transactions, right, because there is always that concern of surveillance, 1154 01:18:46,760 --> 01:18:49,800 extra surveillance, and right now, Zel is the intermitter area on a lot 1155 01:18:49,840 --> 01:18:54,760 of these transactions, and they're private organizations, well, Apple, Zel, 1156 01:18:55,039 --> 01:18:57,800 everybody else. If the government comes to them they need something, they have 1157 01:18:57,840 --> 01:19:00,279 to Yeah, if they subpoena, you have to give over these records jumped 1158 01:19:00,279 --> 01:19:01,920 through some hoops. Yeah, now is just straight to the government, of 1159 01:19:01,920 --> 01:19:05,000 course. Yeah. The one thing about the FED now it sounds like it's 1160 01:19:05,000 --> 01:19:10,439 taking ZELL to another level, right, Yeah, because it's going to be 1161 01:19:10,439 --> 01:19:14,239 available for banks, credit unions, households, businesses. They have to be 1162 01:19:14,319 --> 01:19:16,319 willing to accept it. However, well, you have to sign up for 1163 01:19:16,439 --> 01:19:19,560 see how the acceptance goes. You said, what sixteen banks have adopted it 1164 01:19:19,680 --> 01:19:24,760 so far? Have they? Two big banks? Have? I forgot who 1165 01:19:24,800 --> 01:19:29,039 the other one was, Chase one of the two. Yeah, well, 1166 01:19:29,039 --> 01:19:31,640 I'm sure Chase is one of the first ones to adopt it. I'm when 1167 01:19:31,640 --> 01:19:35,880 I go to White send money to the electrician, for instance, when I 1168 01:19:35,920 --> 01:19:39,960 go to my Bank of America app, there's three choices of how I can 1169 01:19:39,960 --> 01:19:43,199 send it. I guess a fourth choice will pop up now, right, 1170 01:19:43,319 --> 01:19:46,600 Yeah, Well, we won't honestly, we won't like checks anymore. Checks 1171 01:19:46,640 --> 01:19:51,439 our thing in the past, you know. No, But but some businesses, 1172 01:19:51,520 --> 01:19:54,760 doctors and stuff, they send it to you either can put it on 1173 01:19:54,760 --> 01:19:58,600 a credit card or you can or you can send them a uh uh, 1174 01:19:58,840 --> 01:20:00,199 you know, a check. And now it's and there's the thirsty gonna be 1175 01:20:00,199 --> 01:20:04,680 a third option now setting up and setting up Ah, one of the requirements 1176 01:20:04,840 --> 01:20:09,920 is avoided check from the bank you want set up. Getting those anymore is 1177 01:20:09,920 --> 01:20:13,039 almost impossible, Yeah, because people just don't write checks anymore. Now you 1178 01:20:13,079 --> 01:20:15,439 have to get a direct deposit form. Well, but yeah, there's a 1179 01:20:15,439 --> 01:20:18,720 form on the web, on the website that is designed for this because they 1180 01:20:18,800 --> 01:20:24,239 understand that people don't have checks anymore. I don't write five checks a year, 1181 01:20:24,680 --> 01:20:27,640 right, it's just the thing of the past. Yeah, it really 1182 01:20:27,760 --> 01:20:30,239 is. And as as is change. When's the last time you had dealt 1183 01:20:30,279 --> 01:20:33,920 with change? When the last time he gave worth a change in a bucket 1184 01:20:33,920 --> 01:20:36,199 at my house that I never Yeah? Yeah, right, when's the last 1185 01:20:36,199 --> 01:20:41,840 time you paid someone the exact right amount? Right with pennies and knickles and 1186 01:20:41,920 --> 01:20:45,159 dimes? And yeah, checks really worth it for Zell if you think about 1187 01:20:45,159 --> 01:20:47,319 it, right, it's just a really slow Zell because it's not anything. 1188 01:20:47,359 --> 01:20:51,439 A check isn't worth any example, right, All it is is a digital 1189 01:20:51,439 --> 01:20:55,960 receipt showing that this is gonna Yeah, well, I guess you can bounce. 1190 01:20:56,800 --> 01:21:00,000 I've had checks bounce fifteen twenty days later for somehow, some way, 1191 01:21:00,039 --> 01:21:03,159 I don't know how, right, Yeah, not mine, people sending me 1192 01:21:03,239 --> 01:21:05,560 checks. Well, that's what people need to understand, is like we are 1193 01:21:05,600 --> 01:21:10,800 evolving in all areas, right, and currency evolves, technology evolves, and 1194 01:21:10,840 --> 01:21:14,760 so we went from checks to now Zell to now the Fed. Now the 1195 01:21:14,840 --> 01:21:16,800 younger generation is going to go cashless. They all that now, they don't 1196 01:21:16,840 --> 01:21:18,840 care, they don't think about all that other stuff. But Dean, you 1197 01:21:18,880 --> 01:21:24,399 and I are pretty much cashless. Yeah, I don't. I'm I'm seventy 1198 01:21:24,439 --> 01:21:27,319 three. I don't use You use your Apple wallet all the time, my 1199 01:21:27,359 --> 01:21:29,640 Apple. Yeah, And I don't even use a credit card. I use 1200 01:21:29,720 --> 01:21:32,760 my my cell phone. Well, because you don't travel. If you traveled, 1201 01:21:32,800 --> 01:21:36,000 you would use your credit card for points. No, I get points 1202 01:21:36,000 --> 01:21:40,159 on my on my iPhone. Yeah's credit card is in his iPhone. All 1203 01:21:40,199 --> 01:21:43,520 he has to do is out of my pocket. You have a credit card, 1204 01:21:43,520 --> 01:21:45,479 but you put it on your iPhone and you just tap it on the 1205 01:21:45,760 --> 01:21:47,680 it's tied down my iPhone. I just have a physical credit card. I 1206 01:21:47,720 --> 01:21:51,279 don't have to have the physical card right on credit card. I've got the 1207 01:21:51,760 --> 01:21:56,720 my key that opens my teslass. It's now a credit card. There you 1208 01:21:56,760 --> 01:21:59,279 go, where's that. Losing your phone is the worst thing in the world, 1209 01:21:59,319 --> 01:22:01,199 Then it's worse than losing your wallet, because you could just cancel all 1210 01:22:01,199 --> 01:22:04,039 your credit cards on your wallet. Winter Haven last year, I've told this 1211 01:22:04,119 --> 01:22:08,760 on the Shrouble Far was that winter Haven last December. I lost my money 1212 01:22:08,760 --> 01:22:12,680 clip, two hundred dollars, my credit card, my driver's license, and 1213 01:22:12,760 --> 01:22:15,439 I was telling the people. I was what, I've lost my money clip, 1214 01:22:15,439 --> 01:22:16,640 and they go, well, thank god it wasn't your cell phone. 1215 01:22:16,960 --> 01:22:19,720 Yeah, that's the world we live in. I lost two hundred bucks my 1216 01:22:19,760 --> 01:22:23,000 driver's license to my credit card, and they're going, thank god, it 1217 01:22:23,039 --> 01:22:25,800 wasn't yourself. If you didn't have that cash, you wouldn't lost anything. 1218 01:22:25,800 --> 01:22:28,359 You just froze all your cards, but you would have been out twenty five 1219 01:22:28,359 --> 01:22:30,920 bucks for new driver's license. But my response to them was, yeah, 1220 01:22:30,920 --> 01:22:35,479 that's true. Yeah, the cell phone is more important to us than anything. 1221 01:22:35,960 --> 01:22:39,640 And I remember when Steve Jobs stood up in front of us twelve years 1222 01:22:39,680 --> 01:22:44,319 ago and started talking about twelve years ago. Huh, now that's fifteen years 1223 01:22:44,359 --> 01:22:48,279 now, fifteen years sixteen years Oh yeah, it was sixteen sixteen years now. 1224 01:22:48,279 --> 01:22:50,359 Actually I remember I'm a standing in front of they're talking about and I'm 1225 01:22:50,399 --> 01:22:53,880 thinking, what are you an idiot? It's a phone. Yeah, I 1226 01:22:53,920 --> 01:22:57,920 saw the one of the original iPhones is sold for a record in auction one 1227 01:22:58,000 --> 01:23:00,600 hundred ninety thousand dollars. Was that nine. I'm sitting there watching this thing, 1228 01:23:00,640 --> 01:23:02,840 going, what are you? What are you talking about? It's a 1229 01:23:02,960 --> 01:23:06,319 phone? Just to have the vision that we would keep making money because we're 1230 01:23:06,319 --> 01:23:11,239 gonna keep out more and more version. We'll have twenty thirty versions eventually. 1231 01:23:11,960 --> 01:23:14,279 Yeah, well people aren't going to do it. Why would they just say 1232 01:23:14,319 --> 01:23:15,399 with the one phone? You know, you have a phone at home, 1233 01:23:15,479 --> 01:23:18,319 at your home on the wall, you kept it forever. Well, then 1234 01:23:18,479 --> 01:23:23,119 then you your your memory gets full and they have to pay for more memory. 1235 01:23:23,199 --> 01:23:25,800 Right. Well, he's just so ahead of his time, that is. 1236 01:23:25,960 --> 01:23:28,279 I mean, if you don't have it, because we used to go 1237 01:23:28,359 --> 01:23:31,479 remember everyone's phone numbers, right, but I mean you don't even your data, 1238 01:23:31,680 --> 01:23:33,920 you don't even know anyone's phone. I'll get this thing, says your 1239 01:23:34,000 --> 01:23:36,640 dad is about Yeah, you got it. For another dollar, you can 1240 01:23:36,680 --> 01:23:41,359 buy an act. Okay, fine, I have no idea what that is 1241 01:23:41,399 --> 01:23:45,159 even but we all remember the BlackBerry dominated the market and Steve Jobs knew. 1242 01:23:45,279 --> 01:23:49,600 He said, the reason this isn't gonna work is that the keypad. I 1243 01:23:49,680 --> 01:23:54,359 know that the system needs to be as simple as possible. It needs to 1244 01:23:54,399 --> 01:23:57,680 be touched lest you know. And that's it. No stylists, no extra 1245 01:23:57,680 --> 01:24:02,720 strangle hold on the shell phone market stranglehold. There was a series that just 1246 01:24:02,720 --> 01:24:05,640 came out about Blacky greateful even. First of all, I mean it was 1247 01:24:05,720 --> 01:24:10,159 everybody out a BlackBerry and it was cool because I have the whole keyboard. 1248 01:24:10,239 --> 01:24:13,279 Yea, let me check with my let me check with my BlackBerry. I'll 1249 01:24:13,319 --> 01:24:15,760 send you just something on my Blickberry. You know. It was cool. 1250 01:24:15,920 --> 01:24:19,359 Yeah, but no, it's gone. It's gone. It's accompany, a 1251 01:24:19,359 --> 01:24:23,199 little company. But they don't they're in cybersecurity, now, aren't they? 1252 01:24:23,319 --> 01:24:26,760 Something like that. I also heard Apples coming out with some GBT chat GBT 1253 01:24:26,880 --> 01:24:29,159 stuff, yea, their own version of stuff, which is gonna be really 1254 01:24:29,399 --> 01:24:31,039 BlackBerry was so good as the cell phone thing that they don't do it anymore, 1255 01:24:33,680 --> 01:24:36,239 be come out with a series about that. Be awful to have that 1256 01:24:36,399 --> 01:24:40,439 dominance and that kind of a market is like my space. Right, you 1257 01:24:40,560 --> 01:24:43,479 had that market and you got what he's sold that for six hundred million dollars 1258 01:24:43,479 --> 01:24:46,359 he's lost. All right, we'll be back. Appreciate your listening. This 1259 01:24:46,399 --> 01:24:55,000 is the Money Matter Show. It's all welcome back to everybody. This is 1260 01:24:55,039 --> 01:24:58,399 the Money Matter Show. Dave, Dylan, Todd, and myself Deemed. 1261 01:24:58,840 --> 01:25:00,800 I hope you enjoying it. If you need more, miss anything, go 1262 01:25:01,520 --> 01:25:06,279 to Money Matters with Dean Greenberg. You'll get it on the podcast. But 1263 01:25:06,359 --> 01:25:10,479 you have to say with Dean Greenberg because there's a lot of Money Matters out 1264 01:25:10,479 --> 01:25:13,600 there, right I've seen. Also, just go to a website that you 1265 01:25:13,600 --> 01:25:15,760 don't have to worry about it because it's all on there under YouTube at the 1266 01:25:15,800 --> 01:25:19,680 top right. Also on our Facebook page, I do weekly market updates, 1267 01:25:19,680 --> 01:25:24,920 short videos three to five minutes, really recapping everything. Check those out. 1268 01:25:25,359 --> 01:25:29,439 The YouTube page constantly has new updates on it, so look out for the 1269 01:25:29,439 --> 01:25:33,119 information. If you want to list get reading our monthly newsletter. You know 1270 01:25:33,199 --> 01:25:35,840 in about a week we'll have a new newsletter coming out. You can sign 1271 01:25:35,960 --> 01:25:41,199 up going to our website at the bottom of the page. Sounds good, 1272 01:25:41,239 --> 01:25:45,439 and you're still doing the financial plan anything if anyone needs a portfolio review, 1273 01:25:46,239 --> 01:25:50,800 financial plan, talk about wills and trust. I was telling this client of 1274 01:25:51,279 --> 01:25:55,840 a long time client of mine, a good friend too, who went to 1275 01:25:55,880 --> 01:25:58,439 a seminar with a friend of hers, and I said, I was like, 1276 01:25:59,199 --> 01:26:01,399 why would you go? Are you know? Because she asked me do 1277 01:26:01,399 --> 01:26:03,239 you know these people? And I said, well, what are you doing? 1278 01:26:04,039 --> 01:26:05,960 She said no, no, I'm just going my friends. And I 1279 01:26:06,039 --> 01:26:10,479 said, I said, there is nothing in the financial world that you need 1280 01:26:10,479 --> 01:26:14,159 that we can't help you with. We We've we've got it all right here. 1281 01:26:15,159 --> 01:26:19,159 You see where Todd. I know you're watching the Taiwan semiconduct your plant 1282 01:26:19,159 --> 01:26:21,680 in Phoenix. Have you? Did you see the article this week about how 1283 01:26:21,680 --> 01:26:26,199 they did pade not gonna open in twenty twenty four, It's gonna open in 1284 01:26:26,199 --> 01:26:30,279 twenty twenty five because they cannot find skilled laborers. And I'm thinking to myself, 1285 01:26:30,319 --> 01:26:35,039 well, as a country, we've let that technology go to Taiwan without 1286 01:26:35,079 --> 01:26:40,840 any fight for decades and now all of the trained people are in Taiwan. 1287 01:26:41,000 --> 01:26:45,319 Hello, it's the skilled workers to finish building it. Not necessarily building a 1288 01:26:45,399 --> 01:26:47,600 chip, it's build an actual factory. They don't have the skilled workers for 1289 01:26:47,640 --> 01:26:55,279 that. To build the equipment, yeah, I direction order, Yeah, 1290 01:26:55,359 --> 01:26:58,840 to build the equipment that builds the ship right right, So there, So 1291 01:26:58,960 --> 01:27:03,680 they're Phoenix, it's about to be flooded with people from Taiwan. Yeah, 1292 01:27:03,760 --> 01:27:06,159 I know how to do this. Apparently, well, they were saying the 1293 01:27:06,199 --> 01:27:09,840 training program, the people like if they were in Phoenix, they would have 1294 01:27:09,840 --> 01:27:12,159 to go to Taiwan for eighteen months and train and learn it all and then 1295 01:27:12,199 --> 01:27:14,479 they can move back. And that didn't work out that well, Noah, 1296 01:27:14,680 --> 01:27:16,159 there wasn't a lot of people wanted to go to Taiwan for eighteen months. 1297 01:27:17,119 --> 01:27:21,960 But Apple. Apple plans to use that Phoenix facility for their chips for their 1298 01:27:23,000 --> 01:27:26,680 computers. Fantastic. Yeah, once it gets up and running and the intel 1299 01:27:26,760 --> 01:27:29,520 plant is still there and it's still cranes all over the place, yeah, 1300 01:27:30,520 --> 01:27:33,359 I can't a man. That's the deal we have with China. Don't go 1301 01:27:33,359 --> 01:27:38,199 into Taiwan until we get all the sudden semiconductors built in the United States. 1302 01:27:38,199 --> 01:27:43,079 You know, we talked about this a couple weeks ago about China's claim on 1303 01:27:43,119 --> 01:27:46,199 Taiwan is just it's ridiculous. They have no claim on Taiwan. What about 1304 01:27:46,199 --> 01:27:49,319 the claim on the all those islands and the and the and the and what 1305 01:27:49,439 --> 01:27:54,880 is it? The black seat? They and everything else Taiwan. For decades, 1306 01:27:55,399 --> 01:27:59,840 two parties in China fought over control of China. The losing party was 1307 01:28:00,319 --> 01:28:05,399 banished to Taiwan. Now all of a sudden, well, because if if 1308 01:28:05,479 --> 01:28:09,720 Russia can do it, China can do it. Yeah they I I sat 1309 01:28:09,760 --> 01:28:13,960 on the show that China's claim to Taiwan is about as strong as Russia's claimed 1310 01:28:13,960 --> 01:28:16,079 to Ukraine. You know it isn't It isn't part of it? Did you? 1311 01:28:16,159 --> 01:28:19,319 Smiling? You don't. You don't like that analogy? No, because 1312 01:28:19,880 --> 01:28:23,760 Ukraine was part of Russia at one point, right, and so that's not 1313 01:28:23,800 --> 01:28:28,640 the same thing. Okay, Taiwan, they kick them out. Ukraine was 1314 01:28:28,680 --> 01:28:31,239 part of Russia. Yeah, yeah, that's what they are there because they 1315 01:28:31,239 --> 01:28:34,399 were kicked out of China. Yeah, and they created their own republic and 1316 01:28:34,479 --> 01:28:38,039 so that's their own world. It's not like Ukraine was kicked out of Russia. 1317 01:28:38,119 --> 01:28:39,760 No, that's a good point. That's a good point. So I 1318 01:28:39,800 --> 01:28:43,359 got to come up with a better analogy, not a good one. Oh 1319 01:28:43,399 --> 01:28:46,159 you got you again. Home builders keep hitting new highs and we know why. 1320 01:28:46,520 --> 01:28:50,479 Uh, there's no supply and so people are being forced to buy new 1321 01:28:50,520 --> 01:28:54,680 homes. Whoever thought you'd say that, Oh, if you're gonna buy a 1322 01:28:54,680 --> 01:28:56,319 new home, you're gonna have to If you're gonna buy a home, you 1323 01:28:56,359 --> 01:28:59,600 gotta buy a new one. Oh damn um. You know, there is 1324 01:28:59,640 --> 01:29:02,319 no end the tory. There's just no inventory. And Jod you've mentioned that 1325 01:29:02,840 --> 01:29:06,159 ups connections to homebuilders. There's a lot of concessions being made, and a 1326 01:29:06,159 --> 01:29:10,600 lot of concessions and a lot of the supply issues that have been taken care 1327 01:29:10,640 --> 01:29:15,800 of a lot and there's still so many rentals going up into sun right now, 1328 01:29:15,880 --> 01:29:19,279 like build to rent houses right which is a fairly new thing in the 1329 01:29:19,319 --> 01:29:24,680 industry. And so that's going to continue to take course. And you know, 1330 01:29:24,720 --> 01:29:28,520 they continue to see that trend that eventually new home sales are going to 1331 01:29:29,079 --> 01:29:30,880 fall off because all the homes being built are going to be for rent. 1332 01:29:31,279 --> 01:29:35,039 Yeah, I think it was I happened to get I'm starting to get and 1333 01:29:35,119 --> 01:29:38,920 Dan, you and I've been in this business a long time I'm starting to 1334 01:29:38,920 --> 01:29:45,680 get text and emails from people that are hyping penny AI stocks, the pumping 1335 01:29:45,760 --> 01:29:47,079 dump people. It just started this week, this past week. I just 1336 01:29:47,159 --> 01:29:51,920 I got to them a phone call and an email that we call them pumping 1337 01:29:53,000 --> 01:29:55,880 dump people because they get on the phone and they pump the price up and 1338 01:29:55,880 --> 01:29:59,159 then they dump, they dump their own But these are companies. This is 1339 01:29:59,239 --> 01:30:02,199 taking his back in nineteen ninety nine were companies were coming public and they really 1340 01:30:02,239 --> 01:30:06,199 didn't even have a business and have employees. It doesn't surprise me if you 1341 01:30:06,239 --> 01:30:11,359 look at everything that's gone on, you get the big move and it was 1342 01:30:11,479 --> 01:30:14,079 used to be with dot Com and then there was and then everything with dot 1343 01:30:14,079 --> 01:30:16,359 Com will go up and until it didn't, now everything with AI. So 1344 01:30:16,439 --> 01:30:19,479 you're gonna get the guys that uh, you know, probably don't have the 1345 01:30:19,520 --> 01:30:24,880 best scooples, uh and um and call people and do stuff and get people 1346 01:30:24,880 --> 01:30:28,399 excited for cheap less you know, ten thousand dollars, you can you know, 1347 01:30:28,520 --> 01:30:30,880 get these you know stocks that are going for a dollar you know if 1348 01:30:31,000 --> 01:30:33,560 that dollars. One of them was it was an eighty nine cent stock and 1349 01:30:33,680 --> 01:30:38,439 dollars a dollar sixty and they both had AI in their name right, and 1350 01:30:38,479 --> 01:30:40,840 then go to five six dollars. You can make a fortune. Yeah, 1351 01:30:40,960 --> 01:30:45,000 fortune. And the one that called me, he gave me his speel and 1352 01:30:45,039 --> 01:30:47,399 I said, do your parents know what you do for a living? Click? 1353 01:30:49,359 --> 01:30:53,319 You know? On that note, the SMP five hundred has had thirty 1354 01:30:53,399 --> 01:30:57,760 nine consecutive days without a one percent drop, and it's the longest run since 1355 01:30:57,760 --> 01:31:00,479 twenty nineteen. Hasn't dropped more than one percent since made twenty three. So 1356 01:31:00,720 --> 01:31:03,960 to see that, we know there's going to be some type of one of 1357 01:31:04,000 --> 01:31:08,439 those big days right where there's a catalyst, and I mean the red lights 1358 01:31:08,439 --> 01:31:12,159 are flashing all over the place, and yet we keep going higher, and 1359 01:31:12,199 --> 01:31:16,039 well it's bullish, there's bullshit. Well people, I just bought the pullback. 1360 01:31:16,039 --> 01:31:19,000 Well, what's going to happen is one day the pullback they buy and 1361 01:31:19,039 --> 01:31:23,840 it keeps going on. Lower the panic out. I've also go ahead, 1362 01:31:23,880 --> 01:31:26,439 well, I said, I also heard that the options, that these zero 1363 01:31:26,520 --> 01:31:30,640 dated options are helping the market continue to rally even though there's not a lot 1364 01:31:30,640 --> 01:31:35,640 of fundamental point right now in the in the calls put options and they wanted 1365 01:31:35,680 --> 01:31:39,680 to put do Dan and I were looking at that on Thursday, and we 1366 01:31:39,680 --> 01:31:42,520 were just shocked. Well, Dayling pointed out on Friday to me that there's 1367 01:31:42,600 --> 01:31:46,880 estimated over two point three trillion dollars of options that expire on Friday today, 1368 01:31:47,399 --> 01:31:50,920 one last Friday, last Friday. There's the twenty first. It's a lot, 1369 01:31:51,840 --> 01:31:56,039 there's a lot, and it's the market can kind of quietly close with 1370 01:31:56,159 --> 01:31:58,920 that kind of volume. Is amazing, right that a lot of them, 1371 01:31:59,039 --> 01:32:00,359 a lot of them might be out of money. Well yeah, and a 1372 01:32:00,399 --> 01:32:02,760 lot of them had Dean. They've changed the rules so most of it has 1373 01:32:02,800 --> 01:32:05,920 to be done as the open. So remember how the closes. We that's 1374 01:32:05,920 --> 01:32:10,239 only on the Thursday once, but those wild closes, we used to get 1375 01:32:10,319 --> 01:32:13,960 no on Triple Witching Day, those wild closes. Right, But there was 1376 01:32:13,960 --> 01:32:18,880 the ones that that the SMP was basically closed on Thursday and and gave you 1377 01:32:18,920 --> 01:32:23,640 a value on Monday on the Friday morning, and that's as if you held 1378 01:32:23,680 --> 01:32:28,640 it that long. That's what happened. Intuitive Surgical Dean. Intuitive Surgical. 1379 01:32:28,680 --> 01:32:34,720 Their big business is bariatric surgery, help people that tie their stomach off so 1380 01:32:34,760 --> 01:32:40,159 they can lose some weight. Their business has gone over the cliff because of 1381 01:32:40,279 --> 01:32:44,840 these weight loss struck everybody's waiting. Everybody's waiting. So let me ask you 1382 01:32:44,840 --> 01:32:51,279 a question. What stock would you buy on a pullback that you're looking at? 1383 01:32:51,319 --> 01:32:55,279 What's your number one stock that you like on a pullback? And where 1384 01:32:55,279 --> 01:32:57,079 would you want to buy it? I think it's the same for Alls. 1385 01:32:57,199 --> 01:33:00,960 Right in video we all we all thought in the video better Apple, Puck. 1386 01:33:01,039 --> 01:33:06,119 I think in Nvidio's probably got the clearest runway to profitability. I mean 1387 01:33:06,159 --> 01:33:11,039 they just they just have a demand, a product that they cannot make enough 1388 01:33:11,079 --> 01:33:14,560 of, uh and demand. It looks like it's going to continue for years 1389 01:33:14,560 --> 01:33:15,680 and year. Yeah. The reason I say Apple is because they got the 1390 01:33:15,720 --> 01:33:19,399 VR coming, which looks just better than the other competition, and they're getting 1391 01:33:19,399 --> 01:33:24,680 into AI with like Toto saying, with the CHATSBT of their own and eventually 1392 01:33:24,680 --> 01:33:27,000 they're going to probably build chips with it too. Would be my game, 1393 01:33:27,199 --> 01:33:30,560 non tech, non non tech. Pick a stock that's not in that in 1394 01:33:30,880 --> 01:33:36,000 the top seven constellation brands. That's an opportunity right now, an opportunity with 1395 01:33:36,000 --> 01:33:39,960 a pull after a pullback or what or whatever. Yeah, well, on 1396 01:33:40,079 --> 01:33:41,680 a pullback, what do you look for? Well, okay, well, 1397 01:33:41,720 --> 01:33:44,960 I mean right now would be Disney Okay, I like that. No, 1398 01:33:45,079 --> 01:33:45,920 you don't have to wait for a pullback. It's had it pull Yeah, 1399 01:33:45,920 --> 01:33:50,319 I think probably humanity for me. I like Constellation brands. How are you 1400 01:33:51,239 --> 01:33:59,079 No, I I was looking at thinking, I think Disney is bull Disney. 1401 01:33:59,439 --> 01:34:01,760 Disney to me today is what Boeing was a couple of years ago when 1402 01:34:01,760 --> 01:34:05,119 it was down to one hundred. Nobody wanted nobody wanted stuff. And I'm 1403 01:34:05,159 --> 01:34:08,880 not saying it's going back to one hundred and eighty two hundred, but at 1404 01:34:08,920 --> 01:34:12,039 eighty five, I mean you can probably down the road see Won ten one, 1405 01:34:12,199 --> 01:34:15,760 twenty one thirty Again, it wasn't that there that the long ago will 1406 01:34:15,840 --> 01:34:18,439 change it. Yeah. The thing is, Bob Iger got extended another two 1407 01:34:18,520 --> 01:34:21,199 years, so they're trying. He's gonna keep trying to work at end with 1408 01:34:21,399 --> 01:34:25,079 ESPN. They're not trying to get rid of sports anymore. They're thinking about 1409 01:34:25,119 --> 01:34:29,319 it. But now they're transitioning into making ESPN just streaming rather than the basic 1410 01:34:29,399 --> 01:34:31,800 cable, and they're trying to team up with NFL, NBA, and MLB. 1411 01:34:32,159 --> 01:34:34,560 They should to do a strategic partnership with all of them. If they 1412 01:34:34,560 --> 01:34:39,119 can do that, that's gonna make their sports entertainment side a lot better too. 1413 01:34:39,319 --> 01:34:41,560 Yeah, a year ago it was a two hundred dollar stock. You 1414 01:34:41,600 --> 01:34:44,920 know, ESPN already kind of does that with UFC. They have that strategic 1415 01:34:44,960 --> 01:34:47,760 partnership together, so the NBA they have different things, but they're gonna go 1416 01:34:47,840 --> 01:34:51,600 big sports is huge money. There's no way they can be paying the types 1417 01:34:51,640 --> 01:34:56,399 of billions of dollars they do to college football in the FL if they weren't 1418 01:34:56,439 --> 01:35:00,600 making this much money. And ESPN with Disney's back in, it's that but 1419 01:35:00,640 --> 01:35:03,720 you're right stream it out like everybody else. Your plus already, which works 1420 01:35:03,760 --> 01:35:06,840 really well. They have another year on their NBA exclusive deal, right, 1421 01:35:06,880 --> 01:35:10,920 but they're trying to do like a whole partnership where say the NBA would buy 1422 01:35:10,960 --> 01:35:14,520 an ownership stake in ESPN is what they're looking at. That makes me think, 1423 01:35:14,520 --> 01:35:16,720 actually, you know, Google, when this football season rolls around, 1424 01:35:16,720 --> 01:35:19,840 because you two owns the ticket's going to be interesting to see how Google profits 1425 01:35:19,840 --> 01:35:24,000 off their first year of owning the ticket. It could explode. I mean, 1426 01:35:24,079 --> 01:35:29,239 who's not gonna get that exactly. And it's a great cable product already. 1427 01:35:29,439 --> 01:35:32,000 Alternative, you know, especially everyone that dream grew up like a like 1428 01:35:32,039 --> 01:35:34,399 say I'm a New York fan Jets and Giants. I want to watch those 1429 01:35:34,399 --> 01:35:40,199 games. Well, you're not gonna get them out here unless you get the 1430 01:35:40,279 --> 01:35:43,399 NFL station. I know people that love hockey, they want to watch the 1431 01:35:43,479 --> 01:35:47,439 Rangers, Island is they always get the NHL package basketball. That's why, 1432 01:35:47,560 --> 01:35:51,520 that's why they take off. It's for people that you know that have that 1433 01:35:51,600 --> 01:35:55,840 have transferred out of where they lived and grew up with those teams. Right, 1434 01:35:57,000 --> 01:35:59,920 and the red zone can get a little tiring. Oh hell no, 1435 01:36:00,760 --> 01:36:04,880 at versus being able to watch individual games. Yeah, I mean it depends 1436 01:36:04,880 --> 01:36:06,520 what to do. If you like to bet on games. Red zone is 1437 01:36:06,520 --> 01:36:10,680 awesome. Yeah, get every game. No, that's I get that. 1438 01:36:10,760 --> 01:36:13,880 Yeah, I get that. I enjoyed red Zone. All right, another 1439 01:36:14,079 --> 01:36:16,439 two out has gone quickly. Guys, good job. We'll be back next 1440 01:36:16,479 --> 01:36:21,680 week. Will money matters? You need us, call us, come see 1441 01:36:21,760 --> 01:36:26,439 us, send an appointment. You need a plan, We're doing it for 1442 01:36:26,520 --> 01:36:29,239 you for free. Just call us. We'll get it done. We'll be 1443 01:36:29,239 --> 01:36:32,640 back next week. And remember, we all want to be happy, we 1444 01:36:32,680 --> 01:36:39,600 all want to be healthy, and we all strive to be profitable. Say it's all