Risk Assets Continue Trading Higher, What’s Next?

WEBVTT100:00:00.640 --> 00:00:04.719Good morning everybody. It's that timeagain, eight o'clock Sunday morning. It's200:00:04.759 --> 00:00:10.080Money Matter's time with Dean Greenberg andthe people from Greenberg Financial Group. I300:00:10.080 --> 00:00:13.000hope you doing well this weekend.Well. For the first time in a400:00:13.039 --> 00:00:15.320while, we haven't made a newhigh at the end of the week,500:00:15.560 --> 00:00:18.640but we weren't down much either.We're only down point three percent on the600:00:18.719 --> 00:00:22.800S and P one percent on thedown one point two percent on the NASDAK.700:00:23.519 --> 00:00:29.199But interesting, the equal weighted RSPS and P five hundred up one800:00:29.239 --> 00:00:35.679percent for the week. So doyou mitigate risk? Do you take some900:00:35.719 --> 00:00:40.759money off the table? But youstill think we're going much much higher.1000:00:41.159 --> 00:00:43.679We had a lot of things happenthis week that we're going to talk about1100:00:44.200 --> 00:00:49.960with everybody the round table. Yousaw the speech with UH our President Joe1200:00:50.000 --> 00:00:56.600Biden, and that's pretty much.It wasn't a speech. It wasn't a1300:00:56.600 --> 00:01:00.000State of the Union, as youknow, it's pretty much a it can't1400:01:00.159 --> 00:01:06.879pain speech, which we got totalk about because if you really hear what1500:01:06.959 --> 00:01:12.840he's saying, it's scary for oureconomy. He just doesn't get the difference1600:01:15.159 --> 00:01:21.359between giving away free stuff and inflation. He is making the job so hard1700:01:21.400 --> 00:01:26.000for your own power and the FederalReserve to get inflation down with his rhetoric1800:01:26.079 --> 00:01:33.599of just giving away free stuff,reducing mortgage interest. Mortgage is given a1900:01:33.680 --> 00:01:37.680tax credit to four hundred dollars amonth, giving money to this person,2000:01:37.719 --> 00:01:42.280giving money to that person. Sothese are things we need to talk about2100:01:42.319 --> 00:01:48.040because there is a real possibility ifhe gets in, these things are going2200:01:48.079 --> 00:01:52.400to come into play. And weall know a lot of the stuff he2300:01:52.480 --> 00:01:57.239said was just political, but it'sscary that he believes it. It's scary2400:01:57.280 --> 00:02:04.439that half of our Congress stands upand applauds him. It's scary that they2500:02:04.439 --> 00:02:10.159don't care that we have a thirtynine trillion dollar debt. It scares me2600:02:10.280 --> 00:02:15.599that he can't even talk unless he'sreading. It scares me that the one2700:02:15.639 --> 00:02:23.599thing he was prepared for lake andRiley, and he called her Lincoln Riley,2800:02:23.280 --> 00:02:30.639who happened to be the US Trojanshead coach. It was lacoln not2900:02:30.840 --> 00:02:36.240Lincoln. And he was prepared forthat because he had that little button on3000:02:36.280 --> 00:02:40.280the side. So even when youprepare somebody and get them ready for something3100:02:40.879 --> 00:02:46.719and he messes it up, whatelse is he gonna mess up besides everything?3200:02:49.360 --> 00:02:51.599All Right, this is the MoneymatterShow. It's brought to you by3300:02:51.599 --> 00:02:55.120Greenberg Financial Group. Greenberg Financial Groupis both the registered offessors and advisory and3400:02:55.159 --> 00:03:00.680they broke a deal or registered withthe SEC members of CIPIIC and members of3500:03:00.719 --> 00:03:05.680FINRA. On the show, wealways talk about different ideas, subjects,3600:03:05.879 --> 00:03:12.360products, strategies. Everything has risk. Understand the risks prior to investing.3700:03:12.800 --> 00:03:15.879Even if it goes up, it'sa risk. If it goes down,3800:03:15.240 --> 00:03:20.719there's a risk. Allocate, Allocate, allocate, and you'll be okay at3900:03:20.719 --> 00:03:24.680the end. So as the marketsfell a little bit this week to still4000:03:24.719 --> 00:03:29.639up pretty good for the year sevenpercent for the Nasdaq, seven percent for4100:03:29.680 --> 00:03:35.000the SMP, almost five percent forthe equal weighted S and P five hundred,4200:03:35.120 --> 00:03:38.479and the Dow is up almost threepercent. Why is it important for4300:03:38.520 --> 00:03:39.919the equal weighted S and P togo up? That means it's just not4400:03:40.000 --> 00:03:44.080those tech stocks, but boys,some of them are flying. Nvidia.4500:03:44.360 --> 00:03:46.840Did you see that on Friday?Man, Day after day after day,4600:03:46.840 --> 00:03:52.639it's up. It got to ninehundred and seventy dollars before it reversed and4700:03:52.719 --> 00:03:57.879gave back all that money that dayand some it reversed about one hundred points4800:03:59.360 --> 00:04:03.759one hundred points. That's what's goingto happen. You need to realize that's4900:04:03.840 --> 00:04:08.840that volatility is something you can handle. If it's not, you be should5000:04:08.840 --> 00:04:15.520be mitigating risk by reducing some ofyour positions as they go higher. Mitigating5100:04:15.599 --> 00:04:17.800risk is so important at this time. The markets are going to be volatile.5200:04:17.839 --> 00:04:20.360The higher they go, the morevolatile they are. I think they5300:04:20.439 --> 00:04:24.399hit resistance areas. I think wecan have a little bit of a pullback5400:04:24.480 --> 00:04:29.879right now. I don't see yourcrash unless something happens that we don't know5500:04:29.920 --> 00:04:32.639about. It's going to be backand forth with both Biden versus Trump.5600:04:32.720 --> 00:04:39.240Their ideas. There is such acontrast between the two ideas that is going5700:04:39.319 --> 00:04:41.839to be very simple to pick whichside of the fense you want to be5800:04:41.879 --> 00:04:47.199on. These fence huggers, ifthey want to go with the the woke5900:04:47.279 --> 00:04:51.160programs, they are going to goleft. The fence huggers that want to6000:04:51.160 --> 00:04:58.720go with a strategy to help oureconomy, a real economy, not his6100:04:58.879 --> 00:05:06.759fake economy, continue to be sustainable, then you're gonna go right. As6200:05:06.800 --> 00:05:17.360I was saying earlier, the ideaI'm inflating of going ahead and uh giving6300:05:17.399 --> 00:05:27.519money away in this environment just tostimulating economy. I mean, I don't6400:05:27.560 --> 00:05:30.920know what the details are. Ijust saw the fact that, you know,6500:05:30.160 --> 00:05:33.720for homeowners, we're gonna give awayfour hundred dollars a month credit for6600:05:33.759 --> 00:05:40.319two years, four hundred month dollarcredit for two years. Why do they6700:05:40.360 --> 00:05:46.560deserve that? Markets go up,markets go down, interestrates go up,6800:05:46.560 --> 00:05:51.319interstrates go down. We're trying tobring interest rates down and that will benefit6900:05:51.360 --> 00:05:57.959everyone. But rather than Congress doinganything, they just want to come up7000:05:58.000 --> 00:06:00.319with I'm gonna give, give,give, so they get votes, votes,7100:06:00.399 --> 00:06:06.000votes. Let's raise the federal minimumwage. Well, I don't think7200:06:06.000 --> 00:06:11.920anyone's working for seven dollars an houranywhere, especially when you can get more7300:06:11.959 --> 00:06:14.959than that from the government by sittinghome on your butt and doing nothing.7400:06:16.079 --> 00:06:21.160I think the average minimum wage aroundthe country is probably twelve dollars an hour,7500:06:23.000 --> 00:06:28.600most of fifteen seventeen dollars that peopleare able to earn an hour,7600:06:28.800 --> 00:06:32.360and they still don't want to goto work. What we need to do7700:06:32.439 --> 00:06:36.279he talks about ending the programs,you know, doing something at the border.7800:06:36.279 --> 00:06:39.720We'll talk about that in the second, but doing something in the border7900:06:39.800 --> 00:06:44.600so people will be deterred to comein because then they can they're going to8000:06:44.680 --> 00:06:49.319have their juror or their their hearingin six to eight months rather than five8100:06:49.360 --> 00:06:55.240to six years, and that'll stoppeople from coming. Really, have you8200:06:55.279 --> 00:07:00.839not looked around and realize that oncethey're hear you don't get rid of them.8300:07:00.959 --> 00:07:04.319Have you not realized that even whenthey commit crimes, we don't send8400:07:04.319 --> 00:07:09.759them back. Have you not realizedyou're flying them in, not just coming8500:07:09.800 --> 00:07:14.839in from the border. Have younot realized this stuff? Have you not8600:07:14.920 --> 00:07:20.439realized our cities that need money tohelp the homeless and the poor are having8700:07:20.480 --> 00:07:28.759to feed in hells illegal immigrants thatyou're allowing to come across the border.8800:07:29.879 --> 00:07:34.360So your idea about speeding up theprocess is a good idea, but not8900:07:34.439 --> 00:07:40.839if you don't shut down the border, not if you don't educate, not9000:07:40.959 --> 00:07:47.560if you don't find jobs. Theycannot come here, and we support them,9100:07:48.160 --> 00:07:54.360all of them, especially illegally,and if they come illegally, they9200:07:54.360 --> 00:07:58.600don't even get a hearing. Theygo back home. There are so many9300:07:58.639 --> 00:08:03.160people. It's this respont spankful toevery immigrant that has come here and done9400:08:03.199 --> 00:08:09.399that the right way to become legal. Not everybody coming to US as a9500:08:09.439 --> 00:08:13.839refugee. Not everybody coming here islooking for asylum. That's all they say,9600:08:13.879 --> 00:08:18.639because that's all they have to say. Change the rules, change the9700:08:18.759 --> 00:08:22.199laws, make it more difficult tocome in and make sure you can help9800:08:22.279 --> 00:08:28.319America benefit. We got Chinese peoplecoming here. Why are Chinese coming across9900:08:28.399 --> 00:08:37.080the border and are flying in herelegally? Why do we have illegal Chinese10000:08:37.159 --> 00:08:43.240people coming Nobody wants to answer this. No party in the media press wants10100:08:43.279 --> 00:08:46.759to dig in and get this,and the White House doesn't want to tell10200:08:46.840 --> 00:08:54.759us. All he wanted to dolast night the other night, I should10300:08:54.759 --> 00:09:00.240say, was discuss the fact thatRepublicans won't sign a bill well of gold.10400:09:00.240 --> 00:09:03.039Assign the bill. You call itpolitical. Of course it's political,10500:09:03.039 --> 00:09:09.879and you will play the political gamefor three years. Now it's time to10600:09:09.000 --> 00:09:15.080come up with something that is aplan, a real plan that suits both10700:09:15.120 --> 00:09:22.039sides. If you're bringing them acrossthe border, we need to educate them.10800:09:22.240 --> 00:09:26.279If you're bringing them across the border, we need to find job placement10900:09:26.399 --> 00:09:33.120for them. Get corporations to helpus educate the people come across the board11000:09:33.320 --> 00:09:35.600in the areas that they need,whether it's technology, doctors, lawyers,11100:09:35.639 --> 00:09:48.080accountants, nurses, agriculture, howhospitality. They have to learn English,11200:09:48.080 --> 00:09:50.559they have to pass tests, Theyhave to show us why they want to11300:09:50.600 --> 00:09:54.639be here, not because we're goingto give them free housing and free shelter11400:09:54.080 --> 00:10:01.919and free support and free medical Wecannot continue to see our trillions of dollars11500:10:01.960 --> 00:10:05.399of debt continue to go higher andright now with the industrates where they are,11600:10:05.399 --> 00:10:09.080that's happening. And he sits thereand he talks about how he inherited11700:10:11.840 --> 00:10:16.279an abysmal economy. Wake up,people, We came out of a pandemic,11800:10:16.399 --> 00:10:20.360which, by the way, he'llnever give credit to President Trump for11900:10:20.440 --> 00:10:24.600getting the vaccine done in a miracleamount of speed, time warp speed.12000:10:26.679 --> 00:10:30.200Before he came in as president,that vaccine was already big, in and12100:10:30.320 --> 00:10:33.559out, and nobody wanted the Trumpvaccine, and then everyone had to have12200:10:33.639 --> 00:10:43.519the vaccine otherwise you couldn't work inall government and federal jobs. The hypocrisy12300:10:43.840 --> 00:10:48.639of his speech on Thursday night isthe hypocrisy of what we have in our12400:10:48.679 --> 00:10:56.200country. He wants billions of dollarsto go to Ukraine. I get it.12500:10:56.559 --> 00:11:01.440We cannot allow Putin to survive andto unkah. But of course he12600:11:01.480 --> 00:11:05.320puts the fear in. You thinkhe's just stop being at Ukraine. Well,12700:11:05.360 --> 00:11:09.440why don't you tell me why evenWan indicate Ukraine. I keep asking12800:11:09.440 --> 00:11:15.080that question why did Putin want Ukraine? And we had interviews with him,12900:11:15.200 --> 00:11:18.240ask him the question why did yougo to Ukraine? What does Ukraine have13000:11:18.559 --> 00:11:22.159that you wanted? Why do youthink you deserve to have Ukraine? Then13100:11:22.200 --> 00:11:26.000that will give you a little insightif he's going to any other countries.13200:11:28.360 --> 00:11:35.240But yes, we cannot allow adictator like Putin to advance. I get13300:11:35.279 --> 00:11:41.320that, but we do not keeptrack of that money. Where's it go?13400:11:41.519 --> 00:11:46.159Billions of dollars, billions and billionsof dollars. And then what he13500:11:46.240 --> 00:11:50.440says is we need to give thismoney away. We need to do this,13600:11:50.600 --> 00:11:58.039and what we need to do isincrease taxes on the wealthy. If13700:11:58.120 --> 00:12:03.279I hear one more time out ofa Democrat's mouth that we have to pay13800:12:03.440 --> 00:12:09.399a fair share and that billionaires shouldn'tbe paying these should be paying more in13900:12:09.480 --> 00:12:16.080taxes and corporations should be made morein taxes, I'm going to really lose14000:12:16.120 --> 00:12:22.559it and I'm going to tell youwhy, because it's the Democrats and the14100:12:22.639 --> 00:12:28.840Republicans that will not change the taxcode to make them pay more. If14200:12:28.840 --> 00:12:31.440you're going to try to just puta wealth tax on everything else, it's14300:12:31.480 --> 00:12:35.600not going to work. How doyou have a wealth tax on unrealized gains?14400:12:35.759 --> 00:12:41.240How do you know what somebody's networth is? Realize gains you pay14500:12:41.320 --> 00:12:46.559for. We had an opportunity wasthe last year, the year before,14600:12:46.519 --> 00:12:54.279to go ahead and revoke the carriedinterest. Carried interest is what most billionaires14700:12:54.279 --> 00:12:58.559and hedge funds are able to takethere their money that they would get in14800:12:58.639 --> 00:13:01.360salary and convert it to long termgains, which means they're only paying twenty14900:13:01.399 --> 00:13:09.000percent because it's invested in their funand they're tastes selling shares at long term,15000:13:09.039 --> 00:13:15.159so they're doing carried interest. Butthey didn't. It came down to15100:13:15.240 --> 00:13:22.840Cinema. Christian Cinema decided no anddidn't even get a border money for us15200:13:24.159 --> 00:13:28.000or to do something for that,but she decided to vote against it,15300:13:28.480 --> 00:13:30.879which means that they didn't want todo it. And you know why,15400:13:31.279 --> 00:13:35.360because that's where the money comes from. You think it comes from all their15500:13:35.360 --> 00:13:41.399constituents. Come on, now,you think it's coming from the poor people15600:13:41.679 --> 00:13:45.840and the middle class people that can'teven afford to live month to month right15700:13:45.879 --> 00:13:50.159now, they're not giving hardy thatmuch donations. The big money comes from15800:13:50.639 --> 00:13:56.799the wealthy and the wealthy of theones that want lower taxes, they're not15900:13:56.840 --> 00:14:03.399gonna change it. They're gonna lipsing lip tell you all day long,16000:14:03.679 --> 00:14:11.000fair share. It makes no sense. You want to fast share. And16100:14:11.000 --> 00:14:13.399you've heard me say this one hundredtimes over the last thirty years of doing16200:14:13.399 --> 00:14:22.000the show. Do a flat taxevery cent of income that anybody gets,16300:14:22.440 --> 00:14:28.279there's no red off. You paya low flat tax. Period. That's16400:14:28.320 --> 00:14:35.200a fair share. You think it'sfair when fifty sixty percent of Americans hardly16500:14:35.200 --> 00:14:41.240pay any taxes? Why is thatfair? Why is it fair the top16600:14:41.279 --> 00:14:48.679one percent pay most of the taxes. That's not fair. Don't use the16700:14:48.679 --> 00:14:52.399word fair share in my presence again. I don't want to hear it.16800:14:52.639 --> 00:14:56.240I want to hear a comprehensive planon how you're going to go ahead and16900:14:56.279 --> 00:15:05.399make the tax structure for everybody fair. Change the tax laws. It's no17000:15:05.639 --> 00:15:11.559secret that the richest people own realestate, real estates. People make tons17100:15:11.559 --> 00:15:16.840of money. Well, billionaires havea lot of real estate. You know17200:15:16.840 --> 00:15:22.200what the beauty of that is depreciation. Depreciation means that you can offset any17300:15:22.240 --> 00:15:28.759gains that you have. Depreciation givesyou the ability to use the tax cold17400:15:30.159 --> 00:15:35.039to not pay that much in taxesreal estate. But of course they don't17500:15:35.039 --> 00:15:39.559want to touch that because that woulddo what prevent an economy from growing?17600:15:41.399 --> 00:15:46.639How about the exchanges. You sellone property and you make a hundred million17700:15:46.679 --> 00:15:50.799dollars, you put into another property. You don't have to pay taxes.17800:15:52.600 --> 00:15:56.120I guess what, It makes theother property even more expensive because you're willing17900:15:56.159 --> 00:16:00.519to not pay taxes and pay up. What would happen? You pay taxes18000:16:00.840 --> 00:16:06.039at a long term capital gain,right, and now you're going to go18100:16:06.039 --> 00:16:08.480ahead and look for another opportunity ifit comes your way, and you won't18200:16:08.519 --> 00:16:17.799be forced to pay higher to doit. The whole system needs a revamping.18300:16:18.519 --> 00:16:22.519The whole system needs a revamping todo it. I am tired of18400:16:22.600 --> 00:16:26.200listening to my they have to paytheir fast share corporations. They want to18500:16:26.200 --> 00:16:32.879go to twenty eight percent. Twentyeight percent pay for taxes on corporations.18600:16:33.600 --> 00:16:36.480They say, the average corporation onlypays fifteen percent. But they're going to18700:16:36.519 --> 00:16:41.120fix it because everyone has to payfifteen percent. Now, most corporations don't18800:16:41.120 --> 00:16:47.559pay hardy that much again. Taxcodes, tax codes, tax codes,18900:16:47.919 --> 00:16:52.159change the tax laws. You changethe tax laws and figure out the way19000:16:52.240 --> 00:16:57.960people can pay corporations. If itwas me, if you, if you,19100:16:59.039 --> 00:17:03.559if you stop paying, if youstop having a corporations pay taxes,19200:17:04.240 --> 00:17:08.680prices come down. Every time theypay taxes. They have to make money19300:17:08.720 --> 00:17:12.920too. They're gonna raige prices.We're in an inflation every period of time.19400:17:12.960 --> 00:17:15.920I know they want to tell you. Inflation came from nine percent down19500:17:15.960 --> 00:17:22.880to three percent. Three something weneeded down lower. How many years was19600:17:22.920 --> 00:17:29.599it under one? We needed toinflate the economy. Well, he allowed19700:17:29.640 --> 00:17:30.960it to go so fast, sohigh, because he wouldn't do anything on19800:17:32.119 --> 00:17:36.240energy, nothing on energy. Hissupply chain got so backed up. There19900:17:36.279 --> 00:17:40.279was nothing he would do to openup the supply chain. He can increased20000:17:40.279 --> 00:17:44.519wages. Everybody had to increase wagesthey wanted. Wages have gone up so20100:17:44.720 --> 00:17:48.160much, the other stuff could comedown. Wages are not coming down.20200:17:49.119 --> 00:17:53.640They're not so to see inflation comedown. It's not gonna be easy if20300:17:53.680 --> 00:17:59.160you lower interest rates in this environment, if you with giving out money and20400:17:59.200 --> 00:18:03.319everything else, it's gonna drive inflationback up and they're gonna have to raise20500:18:03.359 --> 00:18:08.519interest rates again. We don't wantto do that. We want interstrates to20600:18:08.559 --> 00:18:14.400be able to come down. What'snormal interest rates. We're normal interest rates.20700:18:14.440 --> 00:18:18.960The problem is everything's so much moreexpensive that people can't pay for it.20800:18:18.799 --> 00:18:21.880So what do you want to dois come up with giving them free20900:18:21.920 --> 00:18:25.279money. We don't have to payfor school debt, don't have to pay21000:18:25.279 --> 00:18:29.079for this, don't have to payfor that. People don't even understand what21100:18:29.200 --> 00:18:34.559a contractual obligation is anymore. Ifthey if Biden could just get them out21200:18:34.599 --> 00:18:38.920of everything, they get out ofit. They don't need to pay credit21300:18:38.960 --> 00:18:44.279cards. Balances are rising and withthe interest they have to pay, it's21400:18:44.359 --> 00:18:45.920amazing. But they're gonna go aheadand say, Okay, you not to21500:18:47.160 --> 00:18:49.279We're not gonna you're not gonna paythirty two dollars anymore for late charge.21600:18:49.319 --> 00:18:52.839You're gonna pay eight dollars. Isn'tthat great? Well, you know what,21700:18:53.160 --> 00:18:59.680they're gonna charge us more on otherthings. They start charging on your21800:18:59.680 --> 00:19:03.359balance on balances. They're gonna raisethe minimum on the balance that they take.21900:19:03.880 --> 00:19:06.000If it was five hundred dollars,maybe it's a thousand, Maybe it22000:19:06.039 --> 00:19:10.000goes to five thousand, and thatway they will have another charge that you22100:19:10.079 --> 00:19:11.799get on credit cards. They dothat, that's fine. You know what's22200:19:11.799 --> 00:19:15.400gonna happen. You pay fifty dollarsa hundred, they're gonna raise that twenty22300:19:15.400 --> 00:19:22.519five dollars for everybody fifty dollars onehundred dollars. You're not helping us,22400:19:22.519 --> 00:19:26.960Biden by doing that. You're creatingan inflationary period that we're gonna have to22500:19:27.000 --> 00:19:33.599pay more. It's common sense,but you don't want to tell the public22600:19:33.640 --> 00:19:38.119that because you want to sound likeyou are the man on the white shining22700:19:38.480 --> 00:19:45.079in white shining armor coming to saveAmerica. You're destroying America. You've got22800:19:45.200 --> 00:19:51.160us into two wars. You talkabout how we're we have all this stuff22900:19:51.200 --> 00:19:55.160going on in China and we're incontrol. Really, because I haven't seen23000:19:55.920 --> 00:20:04.160any aver healthcare essential health care drugsequipment being manufactured in the United States.23100:20:04.519 --> 00:20:10.240I'm gonna give you credit. We'vedone stuff with our chips, yes,23200:20:10.319 --> 00:20:14.559that has helped. We want tokeep that technology as much as possible to23300:20:14.640 --> 00:20:18.200US, But you've allowed thirty thousandChinese people into a country, and don't23400:20:18.200 --> 00:20:22.160think that they're not going to gettech jobs and start learning what's going on.23500:20:25.039 --> 00:20:29.279Look at the riding on the wall, understand common sense where it is.23600:20:29.519 --> 00:20:33.160And I sit there and I cannotbelieve that there's people that were cheering23700:20:33.240 --> 00:20:38.000on thinking how his speech was sogreat because he didn't fall asleep or bumble23800:20:38.039 --> 00:20:41.720stumble through the whole thing and beable to talk actually for an hour and23900:20:41.759 --> 00:20:47.319whatever it was, twenty minutes,thirty minutes, and then he shuffles in,24000:20:47.400 --> 00:20:53.720shuffles out. I can't believe peopledon't understand that if he keeps creasing24100:20:55.119 --> 00:21:00.319the debt, it's a problem.That's a problem. Take everything else oute24200:21:00.319 --> 00:21:04.319of the equation. Just look atit economically. That's all I care about.24300:21:06.160 --> 00:21:12.079Economically. Why do you think wehave inflation? Okay? Who do24400:21:12.119 --> 00:21:22.079you think created that? That thatthat rapid inflation? We allowed energy go24500:21:22.160 --> 00:21:26.599all the places we stopped, weredrilling the border, coming across, taking24600:21:26.599 --> 00:21:29.279care of everybody. Why is thatbecause he got rid of all the Trump24700:21:29.920 --> 00:21:33.640policies? Okay, why don't youjust work with what we have and build24800:21:33.720 --> 00:21:40.599on it. Don't eliminate all thisstuff. Makes no sense, but they24900:21:40.640 --> 00:21:44.599believe this stuff. They believe he'sdoing a great job. They believe he25000:21:44.720 --> 00:21:48.720has a great economy. Okay,the stock market is up because of a25100:21:48.720 --> 00:21:53.559few stocks. The stock market isup with a house of cards. In25200:21:53.599 --> 00:21:59.480my opinion, At any time,it could be knocked down ten and it25300:21:59.480 --> 00:22:03.079would stir and and and it'll stillbe over value to a certain extent.25400:22:03.119 --> 00:22:07.480What about the rest of the companies, What about the rest of the things25500:22:07.480 --> 00:22:14.960that have to happen. People aremaking money, okay, and they're not25600:22:15.039 --> 00:22:19.160able to pay their bills. That'sbecause the prices of everything on an everyday25700:22:19.200 --> 00:22:25.359basis are too high. He doesn'tknow that. Most people in Congress don't25800:22:25.440 --> 00:22:30.039know that. Even people with wellthat are wealthy feel like they don't know,25900:22:30.079 --> 00:22:32.920but they get it. It feelsthem, but they can pay it.26000:22:33.079 --> 00:22:38.720But the average person has to makeeleven thousand dollars more in their paycheck26100:22:40.200 --> 00:22:45.960in order to be able to payfor the inflationary prices that we have eleven26200:22:45.000 --> 00:22:48.839thousand dollars more. So if theywere making one hundred grand and they got26300:22:49.240 --> 00:22:55.480a and they've moved up and saythat, so now they're making one hundred26400:22:55.480 --> 00:23:00.200and eleven thousand. You're tak inflationout. They're still underwater by four thousand26500:23:00.279 --> 00:23:07.039dollars, four thousand dollars. Theyhave to have made eleven thousand dollars more26600:23:07.200 --> 00:23:11.880ten percent rays in order to bewhere they are now. And he talks26700:23:11.920 --> 00:23:15.079about if we go do this onthe wealthy and we get to wealth tax,26800:23:15.359 --> 00:23:22.279that's five hundred billion dollars over tenyears. That's fifty billion dollars a26900:23:22.400 --> 00:23:27.359year. Don't we give more moneyaway than that? How do we give27000:23:27.359 --> 00:23:32.519it away hundreds of billions of dollars? What are you talking about fifty billion27100:23:32.559 --> 00:23:37.440dollars a year being this great lightbulb that just went off. We need27200:23:37.480 --> 00:23:41.839more than that. The problem isif you keep taxing and do you keep27300:23:41.880 --> 00:23:47.759spending, it doesn't work. Youneed to stop spending. And I didn't27400:23:47.799 --> 00:23:52.400hear one thing out of the entirespeech or any strategy they have on how27500:23:52.400 --> 00:23:56.440they're gonna keep spending. And allthey wanted to do was say, hey,27600:23:56.839 --> 00:24:00.000they're gonna cut SoC security, they'regonna cut Medicare. That is not27700:24:00.400 --> 00:24:06.240true. But we do need aplan from Congress on how we're going to27800:24:06.319 --> 00:24:10.400survive past the next three five tenyears to be able to keep those security,27900:24:10.720 --> 00:24:14.799keep Medicare, keep a healthcare,keep our economy going, and don't28000:24:14.839 --> 00:24:18.680fall into a recession depression. That'swhat we need to have. We'll be28100:24:18.759 --> 00:24:22.519right back. It's the Money Matterof show. And thank you for listening.28200:24:22.079 --> 00:24:30.440You guys are what why we dothis? Welcome back everybody. It's28300:24:30.480 --> 00:24:33.759the Money Matter Show. This isDean Greenberg with Dave Sherwood, Dylan Greenberg,28400:24:33.839 --> 00:24:37.640and Todd Glick is my last name. Thank you. I do that28500:24:37.720 --> 00:24:45.000all the time. For how youdoing today, Toddy? Not very good,28600:24:45.039 --> 00:24:48.119but we had an interesting week,Thank you very much. We had28700:24:48.160 --> 00:24:52.240interesting day. Save me time,yeah, I mean we're all back to28800:24:52.319 --> 00:24:55.039normal day. I bet a lotof people try to tune in right now28900:24:55.039 --> 00:25:00.160when they were the wrong hour.Nobody cares about daylight saving time. Mean,29000:25:00.240 --> 00:25:03.519what are you talking about a lotof people's clocks don't reset right away.29100:25:03.880 --> 00:25:06.799We don't change. No. I'msaying like, if you have an29200:25:06.839 --> 00:25:08.880alarm for seven a m. Onthat day, it won't go on.29300:25:10.079 --> 00:25:12.319Actually wake up to listen. Wow, you're you're pretty optimistic. Well,29400:25:12.400 --> 00:25:15.880people wake up to go to church, so yeah, you kind of got29500:25:15.920 --> 00:25:22.359to get a church on the time. That's yeah. Then the last day29600:25:22.400 --> 00:25:26.000of the Colder aren't open, thelast day of the Tucson Festival of Books.29700:25:26.160 --> 00:25:30.279A lot going on right now.Festival of Books not going on right29800:25:30.319 --> 00:25:33.720now. That's a big deal,it is. It is. They both29900:25:33.720 --> 00:25:37.519come the same weekend, right,You were saying about the market. We30000:25:37.559 --> 00:25:41.960have the FED Chair of pal testifyingin front of Congress this week saying that30100:25:41.079 --> 00:25:45.799rates are not going to be droppinganytime soon until he sees economic reports that30200:25:45.839 --> 00:25:48.880allows him to do so. Andthat's not what the market wanted to hear,30300:25:48.960 --> 00:25:52.400except the market doesn't carry anymore aboutrates, so it just kept going30400:25:52.480 --> 00:25:56.119higher. You heard it here first, right, that there's not going to30500:25:56.119 --> 00:25:57.720be a rake cut in March,probably not going to be a rake cut30600:25:57.759 --> 00:26:03.839in June. Been saying that formonths and months, yep, and it's30700:26:03.920 --> 00:26:07.000like, come on, people,wake up. Technically, market's the most30800:26:07.079 --> 00:26:12.920overbought it's been in four years,up seventeen of the last twenty weeks.30900:26:12.960 --> 00:26:17.240I will say last week was downa little bit, which was the third31000:26:17.680 --> 00:26:22.799down week in the last four months, as investors had just been buying any31100:26:22.839 --> 00:26:27.720weakness. Most continuous rally that we'vehad in over sixty years, which is31200:26:27.720 --> 00:26:32.920that fomo you know, if you'remissing out. Yeah, it's really interesting31300:26:32.960 --> 00:26:34.759the type of environment we're in rightnow, because you know, when you31400:26:34.799 --> 00:26:37.680take the Fed's perspective, they reallyare in a rock and a hard place31500:26:37.720 --> 00:26:41.880because they have two mandates set byCongress. They have to have full full31600:26:41.920 --> 00:26:47.039employment as much as they can andthen you know, try to defeat inflation31700:26:47.160 --> 00:26:49.960down to their target around two percentwith no help. So they've done the31800:26:51.079 --> 00:26:53.240labor to a te right, it'sright there where it needs to be.31900:26:53.359 --> 00:26:56.240Unemployment even though it's ticked up tothree point nine and we saw that came32000:26:56.240 --> 00:27:00.039out on Friday, it's still historicallylow. At the issue gets turned to32100:27:00.079 --> 00:27:04.119inflation, which we continue to seekind of hovering at that three point five32200:27:04.160 --> 00:27:07.400to four point five range, andit doesn't seem to be able to get32300:27:07.480 --> 00:27:11.440much lower than three point five.And so how does the FED even entertain32400:27:11.519 --> 00:27:15.960cutting rates until it gets below thatthree point five mark or even below three,32500:27:17.039 --> 00:27:19.039right, I mean, it's gotto get somewhere near two before they32600:27:19.039 --> 00:27:23.799can even think about cutting rates.It's just that pressure on wages and pressure32700:27:23.839 --> 00:27:30.160on holideen that continue to be bothersomein this whole thing, right, Dal,32800:27:30.559 --> 00:27:32.039Yeah, it is true. Imean, like you're saying, they32900:27:32.039 --> 00:27:33.599still want to do the two percent, so they're getting closer, and the33000:27:33.640 --> 00:27:37.039idea that the employment unemployment was alittle higher just got investors happy to begin33100:27:37.119 --> 00:27:40.759with. As we saw this startFriday, but then I mean Friday and33200:27:40.839 --> 00:27:45.319then down so kind of wore offpretty quickly. But I think those are33300:27:45.319 --> 00:27:47.559still putting pressure on. I thinkthey're still I mean, like you said33400:27:47.599 --> 00:27:49.680earlier this week, is that it'snot gonna not wavering from the two percent33500:27:49.759 --> 00:27:53.000goal Friday. Friday was an interestingday, wasn't it. Yeah, it33600:27:53.039 --> 00:27:57.000was killing it in the morning.Yeah. Also because unemployment rate came in33700:27:57.039 --> 00:28:00.519higher than expected. Yep, Soeverybody's okay, cool, they might be.33800:28:00.920 --> 00:28:04.559It gives them hope. That racerwhen you cut quicker got a goldilocks33900:28:04.759 --> 00:28:10.759employment report from the government, andthat gave me goldilocks. Though with unemployed,34000:28:10.839 --> 00:28:14.599I mean we did have jobs created, more goldilocks in that there were34100:28:14.599 --> 00:28:18.039not an extraordinarily high number of jobscreated. The unemployment rate ticked up a34200:28:18.039 --> 00:28:22.720little bit, which gives more emphasistowards lower rates. To be fair,34300:28:22.799 --> 00:28:26.680we know goldilocks. We beat expectationspretty significantly, almost double than what economists34400:28:26.720 --> 00:28:30.279were expected on jobs created two hundredversus two seventy five. I saw one34500:28:30.359 --> 00:28:33.880seventy versus one hundred. Okay,the bottom line is a Cramer called to34600:28:33.920 --> 00:28:40.799goldilocks and and I can't but Fridaymorning a new all time high for the34700:28:40.880 --> 00:28:45.400Nasdaq, the SMP, the Russell, and the SMP equal weighted new all34800:28:45.400 --> 00:28:48.359time high for all four of thoseindices. And then the four three of34900:28:48.400 --> 00:28:52.519the stocks that have been driving thismarket for the last six months in Vidio,35000:28:53.240 --> 00:28:57.839Eli, Lilly, and Costco allrolled over. And I mean and35100:28:59.039 --> 00:29:03.000Vidia was believable. And Vidia closedThursday night at nine to twenty five.35200:29:03.200 --> 00:29:07.359And we're talking about Nvidia because Ithink it probably is the most important stock35300:29:07.440 --> 00:29:10.720on the market right now. Itis they make, They make their driving35400:29:10.759 --> 00:29:14.960AI and the AI was driving themarket. Yep. They closed Thursday at35500:29:15.000 --> 00:29:18.839nine to twenty five. They openedFriday morning at nine seventy five and then35600:29:18.920 --> 00:29:25.440dropped one hundred points. That's thefirst time we've seen that from an Nvidia35700:29:25.480 --> 00:29:27.640in an intra day basis, Yeah, exactly. Usually if it opens up35800:29:27.680 --> 00:29:30.920like that, it ends higher.Yeah, now it has dropped one hundred35900:29:30.920 --> 00:29:36.440points a couple of times before,and each of those times was an opportunity36000:29:36.480 --> 00:29:40.200to get in. Will just bedifferent. Well, I guess we'll find36100:29:40.200 --> 00:29:41.880out later. I mean now it'slike people started taking their profit because I36200:29:42.160 --> 00:29:45.359was just taking you know, it'sat nine hundred's at eight eighty, we'll36300:29:45.440 --> 00:29:47.680just take some profit. And that'show it kind of drops down. Also,36400:29:47.759 --> 00:29:52.440the algorithm electronic trading and stuff hitstwo with the stops and all that.36500:29:52.519 --> 00:29:55.839But the interesting part too is thatS and P five hundred is now36600:29:55.960 --> 00:29:59.680outpacing the Nasdak. Isn't that somethingbarely? I mean, it's up you're36700:29:59.680 --> 00:30:02.279today, it's up seven point fourin the Nazak's up seven point two.36800:30:03.039 --> 00:30:06.200But the Nazak has just been forthe last eighteen months, has been by36900:30:06.240 --> 00:30:10.440far the best. Oh because ofNvidiot, because of Meta, because of37000:30:10.960 --> 00:30:14.400Google, No, not now somuch Google now, but Amazon, all37100:30:14.440 --> 00:30:17.799those tech stocks have been doing well. And that's why tech has been doing37200:30:17.839 --> 00:30:21.200really well. But yeah, sothe market in the sense is doing better37300:30:21.240 --> 00:30:23.839as a whole. As a marketparticipant, you like this, right,37400:30:25.200 --> 00:30:29.119like maybe even the people waight,it is up five percent, So the37500:30:29.200 --> 00:30:32.200rally is clearly widening. Out.Well, what we've been thinking too,37600:30:32.279 --> 00:30:34.000is that the market is going toshift to value, which S and P37700:30:34.039 --> 00:30:37.960five hundred has value. NASDAC doesn'thave so much value. So if you're37800:30:38.039 --> 00:30:41.799right, maybe that's what's happening.They taking their profits from the tech companies37900:30:41.799 --> 00:30:45.319put it in more value, feelingmore stabilized. It has to happen eventually,38000:30:45.799 --> 00:30:49.599we would think everything we've seen,it doesn't go to the moon like38100:30:49.599 --> 00:30:52.640that. You've been watching the Sand P five hundred, just the charts38200:30:52.640 --> 00:30:57.319and drawing technicals on the charts.It really seems like this level is I38300:30:57.359 --> 00:31:02.720mean, getting past fifty two hundred, we almost we touched it earlier today.38400:31:02.759 --> 00:31:04.039I mean, yeah, I don'tthink we're going higher. I think38500:31:04.039 --> 00:31:10.920we'll be at five thousand next week. That would be This sounds kind of38600:31:10.920 --> 00:31:12.960funny, but that'd be kind ofa relief because there is just too much38700:31:14.319 --> 00:31:17.559of froth in the market right now. And having it pulled back to five38800:31:17.599 --> 00:31:22.559thousand or forty nine hundred, closedit fifty one twenty three Friday, having38900:31:22.559 --> 00:31:26.720to pull back you know, fivepercent, so would be really healthy.39000:31:26.839 --> 00:31:30.160Well, it's also you're thinking,okay, I want to take some profit.39100:31:30.559 --> 00:31:32.440We'll put it, do we wantto raise cats? You put in39200:31:32.440 --> 00:31:34.440a money market, you're still gettingfive percent while you wait, So it's39300:31:34.480 --> 00:31:37.200not really like you're taking in.You're earning nothing if you just put it39400:31:37.240 --> 00:31:40.960in cash right now, So you'retaking it. So advisors to take advantage39500:31:40.960 --> 00:31:42.519of that right now, and soare traders and institutions all that stuff.39600:31:42.759 --> 00:31:45.720They're getting money regardless of being inthe market, so they're taking the profit39700:31:45.759 --> 00:31:49.039from where they can. We didtake five percent off of our managed accounts39800:31:49.079 --> 00:31:53.079this week. We'll cash that in, which I think was probably well,39900:31:53.240 --> 00:31:56.759just a caution earything. Let's hopethe market goes all the way from here40000:31:56.759 --> 00:32:00.599to ten thousand in a straight line, right, But from a from a40100:32:00.640 --> 00:32:04.559logical point of view, you've gotto say, twenty seven percent rally since40200:32:04.640 --> 00:32:07.759October thirty first, there's got tobe a pullback at some point, yeah,40300:32:07.799 --> 00:32:12.960and we want to have cash whenthat pullback comes. We're patient,40400:32:13.240 --> 00:32:15.119just like we were patient last year. I mean the rally this time last40500:32:15.200 --> 00:32:19.119year, the rallies have started.I mean the bank what was it,40600:32:19.039 --> 00:32:22.880it was Silicon Valley Bank went outlast March, yeah, Marcus around last40700:32:22.920 --> 00:32:25.759March, and we're like okay,and then we saw little aprils when it40800:32:25.759 --> 00:32:29.519started to go and started to run, and mainly because of AI and a40900:32:29.599 --> 00:32:31.119video and all that. But we'restill patient. We're like, we don't41000:32:31.119 --> 00:32:34.160know if this is going to keepgoing. Eventually, after a few months41100:32:34.160 --> 00:32:37.480we're like, Okay, we're gonnahop in a little bit, but we're41200:32:37.480 --> 00:32:38.960not going to be the first thing. We're going the first at it's all.41300:32:39.079 --> 00:32:42.880We're gonna be more patient on thatside. And you never go broke41400:32:42.920 --> 00:32:45.799taking a profit, right, Yeah, exactly, you can't be mad.41500:32:45.880 --> 00:32:47.240You want to look back and looktwice and because then you end up kicking41600:32:47.279 --> 00:32:52.680yourself if you see that the stockthat you sold for a fifty percent gain41700:32:52.759 --> 00:32:54.640is now up one hundred just gonnabe kicking yourself for no reason. Talking41800:32:54.640 --> 00:33:00.880about inflation and wage pressures. Startingin April, the minimum wage for fast41900:33:00.960 --> 00:33:07.160food workers in California goes to twentybucks an hour. Yeah, and also42000:33:07.200 --> 00:33:12.119I think you know, California ledthe way on unemployment on the on the42100:33:12.160 --> 00:33:15.799state side of things. Last said, unbelievable. So your first job while42200:33:15.799 --> 00:33:21.119you're in high school be forty thousanddollars year job. There was California where42300:33:21.119 --> 00:33:23.640did you go from there? There'sa California state congress woman that says she42400:33:23.680 --> 00:33:27.799wants to make it fifty dollars anhour minute. Of course, of course,42500:33:28.279 --> 00:33:30.480to be fair, I mean fortythousand dollars in California. It's like,42600:33:30.799 --> 00:33:34.559you know, twenty five thousand here, so you really can't get a42700:33:34.559 --> 00:33:36.880start a job. She wants tomake it so it's one hundred thousand dollars42800:33:36.880 --> 00:33:39.519minimum for certain Oh, for goodnesssakes, this is like it's is gonna42900:33:39.559 --> 00:33:44.720increase everything, so your starting jobsshould be one hundred grand. Huh,43000:33:44.839 --> 00:33:46.400is what she's proposing. I don'tknow how far it's gone along. I43100:33:46.440 --> 00:33:51.640just saw it, but you canget a very distorted view of reality in43200:33:51.680 --> 00:33:55.279California, you really can. Oilis down two dollars this week to seventy43300:33:55.319 --> 00:34:00.680eight dollars a barrel, continues tobe up and down every other week.43400:34:00.559 --> 00:34:04.720Has trended hire though, I've seen. We've seen the gas prices slowly trickle43500:34:04.799 --> 00:34:08.239back up to around three point fifty. About gold, it's been killing it,43600:34:08.400 --> 00:34:14.400unbelievable. And of course gold movesinversely to the dollars when interest rates43700:34:14.400 --> 00:34:16.360start to drift lower like they didthis week. The dollar is going to43800:34:16.440 --> 00:34:21.639decline, so the price of goldhas to go higher. Up ninety bucks43900:34:22.119 --> 00:34:27.119twenty one seventy eight. That's anew all time high for gold gold has44000:34:27.239 --> 00:34:31.079ever been. You know, Iwatched the State of the Union and giving44100:34:31.119 --> 00:34:37.679away money to Israel, to theUkraine, to Gaza, to Taiwan,44200:34:37.239 --> 00:34:40.360the money we don't have. Bythe way, giving that money away to44300:34:40.400 --> 00:34:46.360all of it struck me that Inow know for sure that there is no44400:34:46.519 --> 00:34:50.519life on any other planet, becauseif there was, we'd be sending the44500:34:50.639 --> 00:34:58.960money. That's on fair point unbelievable. Yeah, it's great at the jobs44600:34:59.000 --> 00:35:02.760of creation, and again real quickly, the healthcare and social assistance was the44700:35:02.840 --> 00:35:08.559number one job creator, Leisure andhospitality number two, number three government.44800:35:09.079 --> 00:35:14.239Government always seems to add jobs everysingle month. You're getting more and more44900:35:14.280 --> 00:35:19.400government jobs, and again jobs wecannot afford to pay for. So yeah,45000:35:19.480 --> 00:35:23.800what the heck? Right? Imean, yeah, it's ridiculous.45100:35:23.840 --> 00:35:27.039We just keep praying money. Andthat's why our deck keeps going up in45200:35:27.079 --> 00:35:30.360placing stuff right now too. It'sridiculous, just just an unmanageable level of45300:35:30.400 --> 00:35:35.360death. Bitcoin was the big starof another ten percent. Todd thirty three45400:35:35.519 --> 00:35:37.880percent in the last two weeks.Yeah, you're going to give me more45500:35:37.920 --> 00:35:39.880than fifteen seconds on that, sowe'll bring that. Ben back in.45600:35:40.000 --> 00:35:43.480You want to talk more about bitcoinwhen we come back from the break.45700:35:43.639 --> 00:35:45.760We appreciate your listening to us.This is the Money Matter Show. We45800:35:45.800 --> 00:35:51.599will be back right after this briefbreak. Welcome back. This is the45900:35:51.599 --> 00:35:54.519Money Matter Show. Todd glick ushere with Dylan Greenberg, Dean Greenberg,46000:35:54.599 --> 00:35:58.639Dave Sherwood. Todd, you wantto talk about bitcoin a little bit.46100:35:58.719 --> 00:36:02.159It's another all time high and thisis exactly when people will start to actually46200:36:02.199 --> 00:36:06.679start to look at bitcoin, whichis always funny to me. But just46300:36:06.679 --> 00:36:09.960because it's trending here doesn't mean thatthe volatility has ended. Bitcoin is a46400:36:10.079 --> 00:36:14.320very volatile as set. You're gonnasee it potentially run up to seventy,46500:36:14.559 --> 00:36:17.039it will plumb it back back downto forty, it will plummet, skyrocket46600:36:17.119 --> 00:36:20.880right back to one hundred, andplumb it right back into sixty. Most46700:36:20.920 --> 00:36:24.639bitcoin bull runs have at least sixto seven thirty percent drops in them.46800:36:24.760 --> 00:36:30.559Wow, okay, so you willsee huge drops and then you'll here all46900:36:30.599 --> 00:36:34.119the commercial all the pundits saying thatwas the bubble pop, right, even47000:36:34.159 --> 00:36:37.320though they've said it what six fivetimes before that about this bubble that bitcoin47100:36:37.400 --> 00:36:42.159is obviously is not because if itwas a bubble, it would have burst47200:36:42.320 --> 00:36:46.559and it wouldn't have blown again.Bubbles don't blow again. Secondly, people47300:36:46.639 --> 00:36:52.559who are wanting to act start outsetallocations into bitcoin. You keep it to47400:36:52.599 --> 00:36:57.000three to five percent. This isjust as if you're investing into Navidia or47500:36:57.039 --> 00:37:00.320investing into a super micro. It'sa very valuatile ass set. You don't47600:37:00.320 --> 00:37:02.800need to have all your eggs inone basket and needs to be a proper47700:37:02.840 --> 00:37:07.920asset allocation, and that can nowbe easily done with Spot bitcoin ETFs.47800:37:08.199 --> 00:37:12.280Okay, you don't need to havein two separate accounts or whatever you may47900:37:12.280 --> 00:37:15.519be. You can have it ina normal account, but don't make it48000:37:15.519 --> 00:37:19.519more than three or five percent.Still keep the same financial responsibility. If48100:37:19.559 --> 00:37:22.360it goes to one twenty, great, your three percent becomes six percent of48200:37:22.360 --> 00:37:23.760your account. You can sell someoff the top, make it back down48300:37:23.800 --> 00:37:29.679the three and it's so easy totrade now with the ETFs, the Spot48400:37:29.760 --> 00:37:36.519atfan it's amazing, Dave, theSpot Bitcoin ETFs, just black Rock and48500:37:36.960 --> 00:37:39.800fidelities. Those two spot bitcoin ets, which are the top two performers right48600:37:39.840 --> 00:37:45.400now. They have bought since they'vebeen opened, more than one percent of48700:37:45.480 --> 00:37:51.000all the bitcoin supply that will everbe produced, and the bitcoin networks,48800:37:51.400 --> 00:37:53.000and we're I mean we've been openfor what two months in business, I48900:37:53.039 --> 00:37:55.039guess, no wonder the price isgoing high, right, right, I49000:37:55.079 --> 00:37:58.159mean, it's just a supply anddemand aspect, right, I mean,49100:37:58.199 --> 00:38:00.280if there's just not available, gotto pay a high price for it.49200:38:00.719 --> 00:38:06.079So that's the beautiful thing about bitcoin. Looking back on this, and I49300:38:06.079 --> 00:38:09.079think what threw us off is whenthe ETFs were first approved, the price49400:38:09.119 --> 00:38:15.519of bitcoin dropped pretty precipitously, whichmade us kind of question our thesis of49500:38:15.920 --> 00:38:21.679the creation of the ETFs causing bitcointo rally. As you look back on49600:38:21.760 --> 00:38:24.840it, it's just such a duh. Yeah, you know, it's duh.49700:38:24.920 --> 00:38:28.840I mean that FBTC we bought.We didn't buy it right away,49800:38:28.880 --> 00:38:30.480but we bought it roughly. Imean for clients that at different times in49900:38:30.480 --> 00:38:34.320the thirties, it's not like sixtynow. Yeah, this has gone straight50000:38:34.360 --> 00:38:37.000up since that drop. Yeah,I mean it obviously it goes with bitcoin.50100:38:37.079 --> 00:38:39.760Bitcoin hit in seventy thousand for thefirst time ever, and it had50200:38:39.760 --> 00:38:44.079to work. It just that Ithink that initial drop was so dramatic.50300:38:44.239 --> 00:38:45.840That's why we cared a lot ofpeople out ethereum. If they get the50400:38:45.840 --> 00:38:51.280same type of spot ethereum et you'vegot to think the same thing. Yeah,50500:38:51.280 --> 00:38:53.519I'm very interested in that because Idon't think ethereum will have an easy50600:38:53.599 --> 00:38:58.960road to that approval as much aspeople think, because it's so controllable and50700:38:59.119 --> 00:39:02.119in a way that Bitcoin isn't.So Classifying ethereum as the security is really50800:39:02.159 --> 00:39:06.920what it comes down to. Whetherthey're going to sec classify ethereum as a50900:39:06.920 --> 00:39:12.039commodity or security obviously brings a wholedifferent slew of regulation what you have to51000:39:12.079 --> 00:39:14.679do with that. So, becauseif I'm not mistaken, bitcoin is the51100:39:14.719 --> 00:39:19.840only commodity currency that's classified as asecurity, as a commodity, as a51200:39:19.840 --> 00:39:22.079commodity, yes, the editors areclassified as securities, correct, So they51300:39:22.079 --> 00:39:28.239have and that makes a difference ofregulators definitely definite. Right, Oh yes,51400:39:28.960 --> 00:39:30.440I mean you think about prospectuses,right and things like that. That's51500:39:30.440 --> 00:39:34.840what it means. Fascinating stuff.Apple of course is one of the premier51600:39:34.920 --> 00:39:39.360stocks drop to the lowest level sincelast October on news. If their iPhone51700:39:39.400 --> 00:39:45.280sales get this, we're down atwenty four percent year over year in China.51800:39:45.400 --> 00:39:49.719That's a dramatic decline. It waslargely expected, right, I mean,51900:39:49.760 --> 00:39:52.360the Chinese government did come out andsays that you can no longer buy52000:39:52.400 --> 00:39:55.599iPhone phones if you're a government employee, Well, you can buy them,52100:39:55.599 --> 00:39:59.719but you just can't use them atwork. Okay, but you know what52200:40:00.079 --> 00:40:01.519you would do with your phone.You're gonna bring it to work. You're52300:40:01.519 --> 00:40:06.239not gonna like that. But it'salso with their Apple Watchers having struggles with52400:40:06.280 --> 00:40:09.440They had that lawsuit that looks likeit went through and they lost with something52500:40:09.440 --> 00:40:13.400about the EKG thing. I thinkcompanies suit them. So now they have52600:40:13.440 --> 00:40:15.440to redo their Apple Watches, thenewest generation. So there're seven struggles right52700:40:15.480 --> 00:40:19.719now. They've scrapped the Apple car. I mean, they only spent in52800:40:19.719 --> 00:40:22.079the terms of Apple, ten billiondollars isn't too much to them, but52900:40:22.239 --> 00:40:24.400they spent a lot of time withthat and now they just scrapped it.53000:40:24.480 --> 00:40:28.679So it's just news with Apple,it's just not been positive lately. But53100:40:28.760 --> 00:40:32.280I mean with Apple, it's buyan opportunity, huge body Google. Google53200:40:32.400 --> 00:40:35.960is buy an opportunity, buying opportunity. They're not gonna let all right,53300:40:36.000 --> 00:40:39.920So they got hammered with that Geminiissue where they're the whole AI was skewed53400:40:40.119 --> 00:40:45.199one way the code. They're notgonna let that continue now. Either whether53500:40:45.199 --> 00:40:47.480they got caught or meant it onpurpose or didn't, whatever happened, that's53600:40:47.480 --> 00:40:51.960obviously not going to continue. OtherwiseGoogle is gonna fix it. So it's53700:40:51.960 --> 00:40:54.639a buy an opportunity in my eyes. So AI, of course is all53800:40:54.679 --> 00:40:59.000the rage. Google is one ofthe top AI companies, but it's down53900:40:59.039 --> 00:41:01.239ten percent in the last few weeks. And Dylan, you think it's because54000:41:01.320 --> 00:41:06.400the stumble on the It's definitely that. Well, it's definitely that's the only54100:41:06.440 --> 00:41:08.119news that came out. Yeah,everything else was going great for him because54200:41:08.119 --> 00:41:12.960there's AI and they're moving towards AI, which come out and say that your54300:41:13.199 --> 00:41:15.559code, your AI code can beskewed. Well, people are just showing54400:41:15.599 --> 00:41:20.519George Washington is black when he's obviouslywas white. That was the whole issue54500:41:20.519 --> 00:41:22.880going on, and it was multipletimes and they're saying, okay, so54600:41:22.960 --> 00:41:28.840as Google using AI to skew tochange to do something with history. That's54700:41:28.880 --> 00:41:31.280what they were saying. And obviouslypeople aren't gonna use Gemini now that Google54800:41:31.280 --> 00:41:34.280has to deal with that. Themdealing with that is going to hurt.54900:41:34.280 --> 00:41:36.159People are going to sell the stock, you know. I think AI is55000:41:36.239 --> 00:41:40.159very interesting, but it won't reallyget the type of capabilities we are looking55100:41:40.159 --> 00:41:45.280for. I don't think start untilwe unlock the code of quantic computing.55200:41:45.440 --> 00:41:49.719And Google has a huge role inthat. They have a whole quantic computing55300:41:49.760 --> 00:41:52.320program and they've been working on itfor years and they're in the lead right55400:41:52.360 --> 00:41:58.079now. And I think that's themost underrated thing that's going on in business55500:41:58.079 --> 00:42:00.760development right now. What if theycome out with a quantum computer, the55600:42:00.800 --> 00:42:06.400power that they'll have as a businessis second to none. And in fifteen55700:42:06.440 --> 00:42:09.719years I can see them completing it. And that's why any type of short55800:42:09.800 --> 00:42:15.199stumble in any other parts of theirbusiness is a huge buying opportunity, because55900:42:15.199 --> 00:42:17.559this is something that people don't evenknow about yet. Our client, Micah,56000:42:17.719 --> 00:42:22.880is a retired engineer and he hasbeen pounding me on quantum computing for56100:42:22.920 --> 00:42:28.360probably two years and it's it's gigantic, Yes, I mean it's drag.56200:42:28.519 --> 00:42:32.079Whoever gets this, whoever figures thisout, And I'm not smart enough to56300:42:32.079 --> 00:42:37.840even describe what's going on, butapparently it's a level of computing that's similar56400:42:37.880 --> 00:42:44.599to what AI is to normal.Uh, yeah, it's am I right56500:42:44.639 --> 00:42:47.239down the game changing. Yeah,it's a game changer. Yes, and56600:42:47.360 --> 00:42:52.159every country in the world is tryingto be first. It's basically like the56700:42:52.360 --> 00:42:54.880it's like the first country to havea nuke. That's the level of power56800:42:55.000 --> 00:42:59.000it would give you. Yeah,it's like the space Race. Yes,56900:42:59.039 --> 00:43:05.199but I think the thing is evenprobably even more accurate and more. It57000:43:05.199 --> 00:43:07.760defines really more what's going on.Yeah, it's Pandora's Box for sure.57100:43:08.360 --> 00:43:10.880You know, during the pandemic,we all learned how to use Zoom,57200:43:10.920 --> 00:43:15.519and those shares jumped remember this,to five hundred and eighty eight dollars.57300:43:15.559 --> 00:43:19.079You're talking about that before they plungedthe fifty eight bucks. When we all57400:43:19.119 --> 00:43:22.599went back to normal, stock actuallyrallied ten percent off the low when they57500:43:22.639 --> 00:43:27.760reported a strong fourth quarter. Soapparently not everyone has given up on Zoom.57600:43:28.159 --> 00:43:30.039Well, zooms still used. Iknow it's still popular, But like57700:43:30.079 --> 00:43:34.360we were talking about earlier this week, it's like when you say Zoom.57800:43:34.360 --> 00:43:36.559It's like you're saying Uber. Youmight order a Lyft, but you're like,57900:43:36.559 --> 00:43:37.920all right, hey, I'm gonnaorder Yeah, you might drink PEPSI.58000:43:38.159 --> 00:43:42.320I'm gonna order an Uber, butyou might have the lift app open.58100:43:42.559 --> 00:43:45.719I'm gonna go on Zoom, whichyou might use Microsoft Teams. It's58200:43:45.760 --> 00:43:49.960just the idea that that's become thenorm for video conferencing. I also don't58300:43:50.039 --> 00:43:54.400understand why Zoom doesn't charge on theirfree service or at least have ads to58400:43:54.440 --> 00:44:00.079make you use it. There's ahuge revenue miss on opportunity there, in58500:44:00.119 --> 00:44:02.639my opinion. Yeah, do theythink that people aren't going to use it,58600:44:04.039 --> 00:44:06.679We'll just go to a different site. Like what I mean by this,58700:44:07.119 --> 00:44:08.840Dave, is if you had alog onto Zoom and just create your58800:44:08.880 --> 00:44:12.519meeting. You know, first youhad to watch a thirty second or one58900:44:12.519 --> 00:44:15.920minute. That's not going to stopyou from using Zoom, right, But59000:44:15.000 --> 00:44:19.039it brings a whole bunch of moneyto Zoom. So why aren't they doing59100:44:19.079 --> 00:44:22.679that? This is a very verygood point. Yeah, a very good59200:44:22.719 --> 00:44:27.519point. We talked to last weekabout last week, I suggested that beyond59300:44:27.559 --> 00:44:30.760meat. We talked about beyond meatand I beat them up a little bit.59400:44:30.840 --> 00:44:35.519Thought the meatless ship may have sailedwhen we found out that there's so59500:44:35.599 --> 00:44:39.599much sodium in the meatless meat thatit's worse for you than actual beef.59600:44:40.519 --> 00:44:47.280The stock jumped sixty percent last weekafter reporting better than expected results in announcing59700:44:47.400 --> 00:44:52.960massive cost cuts this year. Idon't know. I don't know. I59800:44:52.639 --> 00:44:58.519still I enjoyed it when it firstcame out. I enjoyed eating the meatless59900:44:58.519 --> 00:45:00.920Hambergs. I'm not a vegan thinglike that, but I thought it wasn't60000:45:01.000 --> 00:45:06.000bad tasting. And sometimes when we'reout, I'll order a meatless Amberger if60100:45:06.000 --> 00:45:09.119there's one available, just because Ifeel like I'm like, I'm doing better,60200:45:09.360 --> 00:45:13.039but i'm not. You're not.It's not better, it's not better60300:45:13.079 --> 00:45:15.119for you. I don't know.But isn't that interesting that you just like60400:45:15.239 --> 00:45:19.519you even like think that. Yeah? I still think I said, oh,60500:45:19.599 --> 00:45:21.719oh, you got a meat Ohthat's got to be better for me,60600:45:21.840 --> 00:45:24.960when I know that it's not.Isn't that weird? Yeah? It's60700:45:25.000 --> 00:45:28.599just an alternative for people who don'teat meat. It's not like a power60800:45:28.760 --> 00:45:32.639virtue. It's a great vegan alternative. I'man And then meatless pastrami and bacon,60900:45:32.679 --> 00:45:37.519and we talked about it. There'sa plethora of things to choose from.61000:45:37.960 --> 00:45:40.840There's restaurants that use nothing. Butyou know, I just I just61100:45:40.920 --> 00:45:45.599remembered one thing. I'm just goback real quick to pit cooin. Don't61200:45:45.880 --> 00:45:50.719get crazy about these weird all coins, these you know, doche coin and61300:45:50.760 --> 00:45:53.360all these crazy weird ones. You'regonna see them going crazy. They're going61400:45:53.400 --> 00:45:57.760to be up one hundred percent ina day. Doesn't mean that's a great61500:45:57.800 --> 00:46:00.199asset you need to be investing in. Some of these have the weirdest names,61600:46:00.280 --> 00:46:05.039Dave, you could ever think of. Right, it's not something you61700:46:05.079 --> 00:46:08.800should be playing around with. AndI strongly discourage anyone who thinks that other61800:46:08.880 --> 00:46:13.400than like the top five, Like, don't really don't try to be looking61900:46:13.440 --> 00:46:16.199for one offs here. If Iremember it correctly, If I remember correctly62000:46:16.239 --> 00:46:19.719the dot, that's a good point. I remember correctly. The doje coin62100:46:19.840 --> 00:46:22.559was a joke. It was startedas a joke, right, it was62200:46:22.800 --> 00:46:27.400literally kids did Elon Musk was partof it. Yeah, he was like62300:46:27.400 --> 00:46:30.000tweeting about it, and that's whyI explained one time he messed. He62400:46:30.000 --> 00:46:31.679helped create it in back in twentythirteen. Oh he did. I didn't62500:46:31.679 --> 00:46:35.880realize that. I remember he tweetedout the wrong coin, like the name62600:46:35.920 --> 00:46:37.960of a coin, and he saidthe wrong one. That coin exploded,62700:46:38.039 --> 00:46:39.679and then he tweeted again. He'slike, oh, that's a mistake.62800:46:39.679 --> 00:46:43.599It was this coin point in.This one exploded. And it's like,62900:46:43.599 --> 00:46:46.800you have too much power if youhaven't signed up for our April second symposium.63000:46:47.559 --> 00:46:51.280You want to do that, We'vegot to do you want to talk63100:46:51.320 --> 00:46:52.119about that? Well, just alittle bit. We got about forty five63200:46:52.119 --> 00:46:54.920seconds. Yeah, I mean,we'll have a Jonathan Sabilia from our state63300:46:54.960 --> 00:46:59.519planning team as well as Joel Johnsonfrom the accounting group, as well as63400:46:59.599 --> 00:47:02.199J. C. Harris from KNSTseven ninety. All the team on the63500:47:02.199 --> 00:47:05.920Greenberg Financial Group will be there.We're really going to be there about giving63600:47:05.960 --> 00:47:07.159you a road match to your financialsuccess. We know there's a lot of63700:47:07.239 --> 00:47:12.599risks on the horizon and what couldpotentially come about with the new sunsetting of63800:47:12.639 --> 00:47:15.599this tax law, with the newpresident getting in. This is all designed63900:47:15.679 --> 00:47:21.000to getting you prepared and creating thestrategies that you need to now to prepare64000:47:21.039 --> 00:47:23.679yourself for what could be happening inabout a year or two away, so64100:47:23.880 --> 00:47:29.400outstanding opportunity to zero five four fourfour nine zero nine. Talking about what's64200:47:29.400 --> 00:47:31.239going on. We'll be back withthe Moneymatter Show right up this break.64300:47:31.239 --> 00:47:36.119Thanks again for taking time to listento us on this Sunday morning. Welcome64400:47:36.119 --> 00:47:37.400back to the Money Matter Show.My name is Todd Lick. I'm here64500:47:37.400 --> 00:47:42.280with Dean Greenberg, Dan Greenberg andDavid Sherwood for those just joining with us.64600:47:42.800 --> 00:47:45.480This week we had the dal Jonesdown point nine percent, the SMP64700:47:45.679 --> 00:47:49.280was down point three and the NASDACled the way down one point two percent.64800:47:49.679 --> 00:47:52.480Russell two thousand was up this week, up point four percent, and64900:47:52.559 --> 00:47:54.519the equal Weight it actually led theway up this week, was up one65000:47:54.559 --> 00:47:59.920percent. Very interesting to see areversal here. We talked a wild day65100:48:00.079 --> 00:48:02.559about how we think twenty twenty fouris going to be the year of value65200:48:02.679 --> 00:48:07.960versus growth. We were wrong thefirst two months, but so far this65300:48:07.039 --> 00:48:10.840month we're right. The equal weightedup one point seven, the regular s65400:48:10.880 --> 00:48:15.440and P is only up point five. It's closing the gap on the year65500:48:15.480 --> 00:48:19.119today, so potentially we'll see itcome to fruition later in the year.65600:48:20.320 --> 00:48:22.719But we finally see a little bitof reversal this week. Yeah, it's65700:48:23.000 --> 00:48:27.559gonna be interesting again. You wantto watch Nvidia. That is the key65800:48:27.599 --> 00:48:30.199stock, and it had a roughday on Friday. It'll be interesting to65900:48:30.199 --> 00:48:36.000see if there's any follow through onthe downside. It's not an extraordinarily expensive66000:48:36.039 --> 00:48:42.840stock based on treven and the growth, and they are dominating AI. They66100:48:42.880 --> 00:48:49.599are if I looked at it correctly. I think their revenue has quadrupled over66200:48:49.639 --> 00:48:54.239a year and their margin has doubled. It's an amazing company in an amazing66300:48:54.320 --> 00:48:59.199place. And I understand why thestock has gone from one hundred to nine66400:48:59.280 --> 00:49:01.840hundred. I also understand why I'mpulled back by why I think. You66500:49:01.880 --> 00:49:04.920know, that's a good point tobring up, David. Some people might66600:49:04.960 --> 00:49:07.679see a stock that runs up tonine hundreds and thinks it's a bubble or66700:49:07.719 --> 00:49:12.719think it's unsustainable. And this istruly a company that is showing profits that66800:49:13.079 --> 00:49:16.559exemplify what it's supposed to be worth. It's not like maybe a super micro66900:49:16.639 --> 00:49:22.039where you're like kind of you know, grabbing at sticks on where the values67000:49:22.079 --> 00:49:24.000coming from. It's like, yousee it, it's right there for everyone67100:49:24.000 --> 00:49:28.440to see how the video is makingthis money, and it's not like they're67200:49:28.440 --> 00:49:30.440pricing in crazy amounts of growth.I mean, they are obviously pricing and67300:49:30.480 --> 00:49:35.920growth, but it's not unforseeable amounts. Dean and I both had a meeting67400:49:36.000 --> 00:49:39.320in Phoenix Monday and Tuesday, andwe took separate cars because we weren't sure67500:49:39.320 --> 00:49:42.719what time we were coming back.I had a couple of things to do.67600:49:42.840 --> 00:49:45.880He had a couple of things todo. Make a long story short,67700:49:45.920 --> 00:49:49.039On Tuesday, as we're pulling outat Phoenix, I called him on67800:49:49.039 --> 00:49:51.000his cellphone. I said, whereare you? And he told me where67900:49:51.000 --> 00:49:54.559he was, and he was aboutfive minutes behind me. Coincidentally, on68000:49:54.599 --> 00:49:59.480the way back to Tucson, hehad his car, I had my electric68100:49:59.559 --> 00:50:01.519car, and I said, well, you're five minutes behind me, but68200:50:01.559 --> 00:50:06.440you're going to beat me home becauseI have to stop now. I got68300:50:06.559 --> 00:50:09.159up to Phoenix using fifty percent ofthe battery, and on the way home68400:50:09.159 --> 00:50:13.960it said I would make it tomy house with three percent battery left.68500:50:14.000 --> 00:50:17.440Well, I'm not that guy,right, So fortunately, there's a twenty68600:50:17.480 --> 00:50:22.400eight brand new three fifty chargers inElloyd right off the freeway, so I68700:50:22.440 --> 00:50:25.880stopped there. For fifteen minutes andwas enough to get me home. But68800:50:28.000 --> 00:50:30.039Dean had no problem. He filledup in Tucson, he went up to68900:50:30.079 --> 00:50:35.760Phoenix and back and had a plentyof room to spare. So that's one69000:50:35.840 --> 00:50:38.639of the things you have to thinkabout with his range, and we talk69100:50:38.679 --> 00:50:43.480about that. Rivian was up thirteenpercent on Thursday. They announced three new69200:50:43.559 --> 00:50:46.119vehicles, which was a real surprise, one of which is going to be69300:50:46.199 --> 00:50:51.079priced at forty five thousand dollars,which, yeah, it's a smaller version69400:50:51.119 --> 00:50:53.559of its current suv. Yeah,about fifty percent of its current price.69500:50:53.800 --> 00:50:58.079Yeah right. They run eighty toone hundred pound dollars yep, and it's69600:50:58.079 --> 00:51:00.800supposed to have about the three ina miles, yeah price. I want69700:51:00.840 --> 00:51:06.280to talk briefly about charging stations.One of the stocks we have a position,69800:51:06.360 --> 00:51:08.960and not a big position, butis charge Point. Charge Point is69900:51:09.000 --> 00:51:14.320the largest EV charging company in thecountry, yep. And they've seen their70000:51:14.360 --> 00:51:16.639stock drop by eighty two percent overthe last twelve months. And you're going,70100:51:17.519 --> 00:51:21.559how's that possible? Why would thatbe? I mean, isn't that70200:51:22.079 --> 00:51:24.840really where you want to put somemoney is in EV chargers? It's going70300:51:24.920 --> 00:51:29.920to be nothing but better right,down five percent at the open on Wednesday70400:51:29.920 --> 00:51:34.880after they were reported yet another disappointingquarter. Problem with charge point is they70500:51:34.880 --> 00:51:38.280have mostly level two chargers, whichare only of use when you have several70600:51:38.320 --> 00:51:42.800hours to charge, and hotels havebeen slow to add them. Dean and70700:51:42.880 --> 00:51:47.400I had two different hotel reservations inPhoenix, and neither of those hotels had70800:51:47.639 --> 00:51:54.519charging stations. You've got to gethotels trying to outdo one another to get70900:51:54.599 --> 00:51:58.920charging stations. If nobody has acharging station, no hotel, there's no71000:51:58.920 --> 00:52:00.760pressure right now, You guys wentup to Phoenix for the same meeting,71100:52:00.800 --> 00:52:02.800and you stayed at two different hotels. No, I said, we had71200:52:02.840 --> 00:52:07.039two different reservations, two different hoteltail reservations. We initially had a reservation71300:52:07.159 --> 00:52:09.960downtown. No. No, wesay, it's the same hotel, not71400:52:10.039 --> 00:52:15.239the same room. Fortune, butwe stay at the same hotel. But71500:52:15.320 --> 00:52:17.360again they have the level two charges. Now ev Go, which is a71600:52:17.360 --> 00:52:22.360competitor to charge Point. Ev ghosstock is down not eighty two percent over71700:52:22.360 --> 00:52:25.840the last twelve months, but fiftysix percent over the last twelve months.71800:52:27.159 --> 00:52:31.800It jumped ten percent on Wednesday afterreporting twenty twenty three sales nearly tripled.71900:52:32.599 --> 00:52:37.119Okay, so the difference between thetwo business models is fairly significant. Ev72000:52:37.320 --> 00:52:44.280Go actually keeps ownership of the chargersand makes money off the electricity sales,72100:52:45.119 --> 00:52:51.360whereas charge point sells the charger andthen walks away. Now, hotels probably72200:52:51.400 --> 00:52:58.199going to be more interested in allowingev goal to put in eight, ten,72300:52:58.280 --> 00:53:01.559twelve chargers, right, it doesn'tcost them anything, and ive Goo72400:53:01.679 --> 00:53:07.159gets the money off of electricity,doesn't he You go the golf car maker72500:53:07.199 --> 00:53:09.639two? Is that the same company? No? No, oh, that's72600:53:09.719 --> 00:53:13.440easy go Yeah, yeah, yeah, no, it's not. It's not72700:53:13.480 --> 00:53:15.159the same. Yeah, well Iknow the electrics anyway, that charging business72800:53:15.280 --> 00:53:22.000entrant. Of course, Tesla isbuilding domination in that space, and it's72900:53:22.039 --> 00:53:24.559not, you know, electric chargingnot free. I stopped in Eloy where73000:53:24.559 --> 00:53:29.719they have twenty eight brand new threefifty chargers, very nice and next to73100:53:29.840 --> 00:53:37.440a really uh pathetic circle k thatI charged for fifteen minutes. I went73200:53:37.480 --> 00:53:39.719to the circle k to go tothe bathroom in Minnesota, and then they73300:53:39.719 --> 00:53:43.840had some pizza there and I gota piece of pizza, walked outside and73400:53:43.840 --> 00:53:45.559I couldn't even eat it. Itwas so hard. Anyway, it was73500:53:46.519 --> 00:53:50.360I got that done, but itcosts. It costs like twelve bucks for73600:53:50.440 --> 00:53:52.599that fifteen minutes to charge, soit's not free. You know, you're73700:53:52.599 --> 00:53:55.679talking about electric cars and stuff.We're talking when they talk about flying cars,73800:53:57.199 --> 00:53:59.559flying cars. Yeah, for doyou get the flying cars? Yeah,73900:54:00.119 --> 00:54:02.840I D that's the company that's takenover Tesla as the world leader in74000:54:02.920 --> 00:54:08.280sells. They're gonna say, let'sjust sell and let's just sell in America,74100:54:08.360 --> 00:54:12.000let's just sell in Europe. Wemight get slapped with some tariffs.74200:54:12.199 --> 00:54:15.440We don't care. Yeah. Idon't think they're really interested in the US74300:54:15.440 --> 00:54:17.360market because I don't think it's abig market for them. Well, that's74400:54:17.360 --> 00:54:22.800what I'm saying. Dean said that. Dean said that he saw that by74500:54:22.880 --> 00:54:24.960D says they don't care about thetariffs. They're just gonna eat them and74600:54:25.440 --> 00:54:29.880just gonna move into the US market. Right, But do you believe that74700:54:29.960 --> 00:54:34.480there is an appetite in the USfor a Chinese electric car? I think74800:54:34.679 --> 00:54:37.559for a lot of people it's alot cheaper. Dave Kia Hondai. What74900:54:37.760 --> 00:54:43.559nationality makes it? Yeah, yeah, Korea? But people do people care75000:54:43.760 --> 00:54:46.760Korea. We love Korea. Itdepends on what I'm saying is like the75100:54:46.840 --> 00:54:52.559car run is a reliable Are thefar Rights not gonna get the China make75200:54:52.639 --> 00:55:00.079car? Absolutely, you know they'renot gonna get stuff for it. China75300:55:00.119 --> 00:55:02.639is our mortal enemy. Yeah,and half our stuffs made in China.75400:55:02.639 --> 00:55:07.199Still, so whether we it's likewhat do we want to do, like75500:55:07.280 --> 00:55:09.639we're interconnected with them? But yeah, I mean, no, I agree.75600:55:09.639 --> 00:55:13.039I think there is an appetite forespecially if it's that much cheaper,75700:55:13.119 --> 00:55:15.639which I don't know, if they'regonna have to raise their prices. And75800:55:15.760 --> 00:55:20.039BYD trades under the symbol by db y d d f b y d75900:55:20.239 --> 00:55:25.840d F it's yeah, it's onthe OTC and anything Chinese. You have76000:55:25.880 --> 00:55:30.920to be careful because there isn't muchtransparency there. So we're us invested.76100:55:30.960 --> 00:55:32.159We don't really invest in Chinese.Yeah, we're not going to do because76200:55:32.199 --> 00:55:35.679of that. No, but it'sjust an interesting company, like you know76300:55:35.760 --> 00:55:38.360on this ev space, it's nota company you hear a lot about talking76400:55:38.400 --> 00:55:42.039about and they're the world leading andI mean what it could really do too76500:55:42.159 --> 00:55:45.800is just drive Tesla prices down,especially in the US if they're coming over76600:55:45.840 --> 00:55:47.559here and then people start buying bydTesla is gonna have to drop there because76700:55:47.559 --> 00:55:51.960there's more competition that's cheaper. Well, and that Tesla did hit a nine76800:55:52.000 --> 00:55:55.639month low last week on news.The news that're sending down was that that76900:55:55.679 --> 00:56:04.559they halted production at their Berlin factorydue to a power Outre says, yeah,77000:56:04.559 --> 00:56:07.239they well, they said that,and it wasn't a factory that was77100:56:07.360 --> 00:56:12.639arson. I don't know if itwas a a generating station that supplied the77200:56:12.679 --> 00:56:17.159factory that experienced the arsen gotcha,So it wasn't necessarily aimed at Tesla,77300:56:17.199 --> 00:56:22.719but it seemed like a pretty wellthey had to shut the factory down for77400:56:22.760 --> 00:56:27.119the week. Yeah, Theirlin factory. How much of the Tesla production is77500:56:27.119 --> 00:56:30.280st But you know, you've gota business here with Tesla. You've got77600:56:30.280 --> 00:56:34.480a business where your demand is stillthere, but it's slowing, no question77700:56:34.519 --> 00:56:38.000about it, and your prices aresteadily coming down. How's that a good77800:56:38.000 --> 00:56:42.719place to have money? I don'tknow. So going back to that flying77900:56:42.719 --> 00:56:46.199car because of Tesla, So it'sspace expact by Elon Musk and his company.78000:56:46.239 --> 00:56:50.360It's called alef Aeronautics and they're goingto start They have twenty eight hundred78100:56:50.719 --> 00:56:57.519and fifty reservations one hundred fifty dollarsdeposit. They're launching during some time during78200:56:57.519 --> 00:57:00.639twenty twenty five. Then figure outwhen it's a two door one, Well,78300:57:00.639 --> 00:57:01.960what this is different? Like you'vebeen seeing them around and how they78400:57:02.760 --> 00:57:06.159like the cars open the wings andthen they start flying like a plane or78500:57:06.239 --> 00:57:08.880helicopter. The way this is builtis that it just lifts off the air,78600:57:09.000 --> 00:57:12.599kind of like the futuristic one youwould expect. Sure, you're just78700:57:12.679 --> 00:57:15.760driving along the highway as traffic,you lift the straight up and you fly78800:57:15.840 --> 00:57:19.400over it. And it has becauseit has four different like engines in each78900:57:19.400 --> 00:57:22.159wheel that turn into propellers and theygo up and they move you. I79000:57:22.239 --> 00:57:30.039just I can't imagine that being approvedby looks pretty good well getting approved going79100:57:30.039 --> 00:57:34.440for three hundred yeah, it willnever be approved. It's they're trying to79200:57:34.440 --> 00:57:37.119have a four door sedance schedule fortwenty thirty five, but that one's gonna79300:57:37.119 --> 00:57:42.360cost thirty five grand. What inthe world are they thinking? It is79400:57:42.519 --> 00:57:45.079backed by Elon must did I don'tknow. The man can't get approval for79500:57:45.199 --> 00:57:50.440flying cars in a city. That'snever gonna be could flying cars in New79600:57:50.519 --> 00:57:52.800York city. No, get outof here. No, that's how you79700:57:52.800 --> 00:57:55.599get another middle line. So sowhat there's hearing to say though, is79800:57:55.599 --> 00:57:59.320that it weighs eight hundred fifty pounds, so it qualifies as an ultra light79900:57:59.480 --> 00:58:02.559vehicle, which can go under alegal classfications. Golf carts, well,80000:58:02.599 --> 00:58:07.519good for them. Golf carts don'tfly. No, I agree, but80100:58:07.559 --> 00:58:09.599this is where it's going. Thisis insane. First car I've seen that80200:58:09.599 --> 00:58:13.159looks like you could just pop upand go. The only way I can80300:58:13.199 --> 00:58:15.679even see this possibly getting ever approvalis that the only way you can fly80400:58:15.800 --> 00:58:20.239is if it's automated, like anAI is flying it for you, or80500:58:20.280 --> 00:58:24.119outside of a city limits. Idon't know. I was watching a video80600:58:24.119 --> 00:58:29.599on Tesla's auto driving and they're drivingon the right lane and out of nowhere,80700:58:29.639 --> 00:58:32.400the autopilot just turns into the leftland of oncoming traffic and then they80800:58:32.440 --> 00:58:35.679just had to switch it back.But like I was, they're sitting there80900:58:35.719 --> 00:58:39.400watching. It's just my I don'ttrust it. My Tesla beeps at me81000:58:40.280 --> 00:58:44.840every time I do anything. Thisauto back into a wall. It was81100:58:44.880 --> 00:58:46.880autopilot. This was autopilot. They'rejust sitting their hands for I get it.81200:58:46.920 --> 00:58:52.159I get it that that'd be prettyinsane if they can get that approval,81300:58:52.199 --> 00:58:58.960because I mean Apple had to changeits charging port. I can't tell81400:58:59.000 --> 00:59:04.760you that a number of times ofTesla beeps at me unnecessarily, and yet81500:59:04.880 --> 00:59:09.039when I'm backing into my neighbor's wall, it doesn't say a word too dark81600:59:09.079 --> 00:59:12.199out, Dave. You got togive us some credit, I see to81700:59:12.199 --> 00:59:15.239make their money back somehow. Let'stalk a little bit about these weight loss81800:59:15.280 --> 00:59:22.000drugs. It's all over the newsViking Therapeutics, which is a startup biotech81900:59:22.000 --> 00:59:27.440company that specializes in weight loss drugs. They've seen it share move as their82000:59:27.480 --> 00:59:30.760shares moved from two dollars to thirtyeight dollars in the last two years,82100:59:30.119 --> 00:59:35.400and then they doubled last week ongood news about a clinical trial of their82200:59:35.440 --> 00:59:39.360weight loss candidate, Norvil. Nordisknew all time high on results from their82300:59:39.400 --> 00:59:45.880weight loss Nordice now has a highermarket cap than Tesla. I saw that82400:59:45.960 --> 00:59:52.960on Friday. This is so reminiscentof the COVID vaccines. I mean,82500:59:52.000 --> 00:59:57.000all you have to do is sayyou're working on the GLP one, which82600:59:57.079 --> 01:00:00.320is the molecule, the GLP oneweight loss the way your stock goes well,82701:00:00.320 --> 01:00:04.920the same way with AI. No. I get it's a totally different82801:00:04.920 --> 01:00:07.000subject, totally. I'm just saying, here's here's the problem. Here's the82901:00:07.039 --> 01:00:12.039problem with this GLP one deal.And Eli Lelly is big in it,83001:00:13.800 --> 01:00:17.159Nobo, Nordisk, that's hard tosay, is in it, Viking is83101:00:17.199 --> 01:00:21.760in it. We've got eight orten other companies that are working on weight83201:00:21.800 --> 01:00:25.159loss thing. Because it's all therage. Here's the problem. It costs83301:00:25.239 --> 01:00:30.360a thousand bucks a month, minimumone thousand dollars a month, and it's83401:00:30.400 --> 01:00:35.280not covered by insurance or not coveredby most insurance. I should say,83501:00:35.599 --> 01:00:42.000so, is the average overweight persongoing to spend one thousand dollars a month83601:00:42.079 --> 01:00:45.440or even have an extra thousand dollarsa month for this drug? No,83701:00:45.519 --> 01:00:49.159that's expensive. My argument would be, no, there's not. So here's83801:00:49.199 --> 01:00:55.320what's happening. Compounding pharmacies all overthe country are knocking off these GLP one.83901:00:57.000 --> 01:01:05.320They're making this substance and sending peoplethis substance with needles. Now that84001:01:05.840 --> 01:01:10.559the ozempic and the goovi and themozouro, the majarro, the prescription ones84101:01:10.719 --> 01:01:15.760are all self contained like an EpiPen, right, or you just pop it.84201:01:15.559 --> 01:01:21.119These all come with syringes, right, and a little bottle of the84301:01:21.159 --> 01:01:24.320stuff. But guess what, it'sthree hundred bucks a month. So which84401:01:24.360 --> 01:01:28.960way do you think most people aregoing to go? And that makes me84501:01:29.079 --> 01:01:34.239concerned. I know that a Lilyand Noble have sued half a dozen of84601:01:34.280 --> 01:01:38.320these compound pharmacies to get them tostop producing this substance. But if in84701:01:38.360 --> 01:01:45.400fact this really is a chemical thatcan cause you to lose twenty thirty forty84801:01:45.800 --> 01:01:52.000pounds and you can get it forthree hundred dollars from a compound pharmacy,84901:01:52.280 --> 01:01:54.119there's going to be a lot ofpeople that are willing to take that risk.85001:01:54.840 --> 01:01:59.480I agree, And so I thinkthat that's going to be something that's85101:01:59.519 --> 01:02:07.440going to hold back the big guysfrom making a fortune on these at least.85201:02:07.480 --> 01:02:09.840It's something that you need to weighwhen you look at this. You85301:02:09.880 --> 01:02:16.000know what, Lily is not goingto take over the world because very few85401:02:16.639 --> 01:02:22.199No, let me rephrase that,a very small percentage of people can afford85501:02:22.679 --> 01:02:27.559one thousand to fifteen hundred dollars amonth for we loss. Yeah, that's85601:02:27.599 --> 01:02:30.000expensive. Would you agree with that? Yeah, for sure, It's like,85701:02:30.400 --> 01:02:34.159I thought that was interesting that this. Yeah. I mean what that85801:02:34.199 --> 01:02:37.639does is bring make Eli Lily,make it cheaper if they want to sell85901:02:37.679 --> 01:02:39.559more, or they just keep theirsas like a premium. That's all it86001:02:39.639 --> 01:02:45.119is. And on on top ofthat, we're just now starting to hear86101:02:45.360 --> 01:02:50.960some of the problems with it.Any drug has a little poison, right,86201:02:51.320 --> 01:02:57.519that's a pharmacine. Every drug hasa little poison. Good. There's86301:02:57.519 --> 01:03:00.119any boys on the COVID vaccine.But we know that, we know that86401:03:00.559 --> 01:03:06.519up front that this GLP one,at the very least a third of the86501:03:06.559 --> 01:03:10.199weight loss comes from muscle and bone, right, which is probably not a86601:03:10.199 --> 01:03:14.719good thing as you get older.So it's just going to be interesting to86701:03:14.719 --> 01:03:19.599watch. I know some people thatare on this. I have people in86801:03:19.599 --> 01:03:24.480my world that are on this.I've seen some outstanding results from it.86901:03:25.639 --> 01:03:30.119I think of Kelly Clarkson, theentertainer. You know she has what doesn't87001:03:30.199 --> 01:03:37.159Kill Me makes Me Stronger? Yeah, hashtago zempic. Yeah, but she87101:03:36.039 --> 01:03:40.159she lost she lost forty pounds intwo months on diet and exercise. No,87201:03:40.280 --> 01:03:45.599never mind that she's in her midto late forties and has never been87301:03:45.639 --> 01:03:51.239able to lose weight on diet exercise. Now suddenly she's able to drop thirty87401:03:51.320 --> 01:03:54.599or forty pounds in two months.If you can't drop forty pounds with millions87501:03:54.599 --> 01:03:58.400of dollars, I mean, comeon, but no, you still have87601:03:58.440 --> 01:04:00.760to do the work right now,you early, Now you don't. Now87701:04:00.800 --> 01:04:02.880you just have to have the moneypay for it. That's it. Now87801:04:02.920 --> 01:04:06.599you can absolutely drugs, but theyshould. No, No, it's not.87901:04:06.760 --> 01:04:10.440I know I didn't do those.So that's one of those things that88001:04:10.480 --> 01:04:13.119if you are doing, you needto keep it a secret, right Apparently88101:04:13.159 --> 01:04:15.840if you're famous speaking of that?Are not that? Just changing subjects?88201:04:16.199 --> 01:04:21.280Supreme Court ruled that college states likeColorado cannot ban Trump from being on the88301:04:21.280 --> 01:04:27.079primary vote ballot because it's not astate issue. That's even a bigger duh88401:04:26.840 --> 01:04:30.000than than the bitcoin, is it? I mean, how does states decide88501:04:30.000 --> 01:04:32.199who's on the ballot? And that'swhat they said, That's what the Supreme88601:04:32.199 --> 01:04:35.119Court said, Like they just theycan't do that. You know, Texas88701:04:35.159 --> 01:04:39.320decides there's no no Democrats on theballot. No, they can only they88801:04:39.320 --> 01:04:42.280can only decide. They can onlydecide who votes on the ballot, which88901:04:42.320 --> 01:04:45.039is to me equally stupid. ButI know you have a different opinion on89001:04:45.079 --> 01:04:51.000primaries, but yeah, yeah,it's it's it's that you can do it,89101:04:51.039 --> 01:04:54.719like you say, it's a stateelection. They can ban them because89201:04:54.719 --> 01:04:57.920it's the same idea. I don'tthink anybody you know. It was an89301:04:57.960 --> 01:05:00.760unanimous decision, which is how dudwhich way? Yeah, and it was89401:05:00.760 --> 01:05:02.639a quick decisions unanimous, and itmakes it I mean, that's it should89501:05:02.639 --> 01:05:04.639be that way. Yeah, youcan't do that, then you're not the89601:05:04.719 --> 01:05:09.000United States. Yeah, one Roquestate doing whatever they want, and that's89701:05:09.000 --> 01:05:12.280just just a trickle down effect forchaos. And when I first started,89801:05:12.320 --> 01:05:14.239we all kind of said, theyyou can't do that. Come on.89901:05:14.559 --> 01:05:16.920Have you ever heard of the saverscredit? The savers credit? Yeah,90001:05:17.000 --> 01:05:19.320yeah, and I can't remember whatit is though. So the Saver's Credit90101:05:19.360 --> 01:05:23.719is a tax credit that rewards retirementsavings, and a lot of people don't90201:05:23.719 --> 01:05:27.119know about it because most people youhave to be under a certain income threshold,90301:05:27.159 --> 01:05:30.519and if you're under a certain incomethreshold, you're normally not educated on90401:05:30.599 --> 01:05:34.119the type of return saving it anyway, probably not, but for those who90501:05:34.199 --> 01:05:38.719don't know what it is, ifyou are single and you're not making more90601:05:38.760 --> 01:05:42.280than twenty one thousand, seven hundredand fifty for twenty twenty three. That90701:05:42.400 --> 01:05:46.840means any of your contribution that youput into a four one kriira, the90801:05:46.840 --> 01:05:50.400government will give you fifty percent ofthat contribution back in the form of a90901:05:50.440 --> 01:05:55.079credit. Okay, if you makefrom twenty one thousand to twenty three you91001:05:55.119 --> 01:05:58.079get twenty percent of your contribution back. If you make twenty three thousand up91101:05:58.119 --> 01:06:00.920to thirty six thousand, five hundredyou get ten percent of your contribution back.91201:06:01.039 --> 01:06:03.159You're making twenty one thousand dollars ayear, you need to go to91301:06:03.159 --> 01:06:08.039California and to get on with McDonald's, So you make obviously, obviously,91401:06:08.599 --> 01:06:11.480and that's the point. Obviously,if you're making more than thirty six five91501:06:11.559 --> 01:06:15.519hundred single, or if you're makingmore than seventy three thousand joint, this91601:06:15.599 --> 01:06:18.360doesn't apply to you. But forthose who aren't, and we do meet91701:06:18.400 --> 01:06:21.239with quite a few people who areunder those levels, they don't know that91801:06:21.280 --> 01:06:26.320they could be getting money back fromthe government. And sometimes it's just as91901:06:26.360 --> 01:06:30.400simple as using a TurboTax that tellsyou about those type of things. But92001:06:30.480 --> 01:06:33.639if you use a old score preparehe might not be putting that credit into92101:06:33.639 --> 01:06:35.960you, So you're just making sureyou're aware of those type of things.92201:06:36.000 --> 01:06:40.599But the reason I'm bringing this upis in twenty twenty seven, this is92301:06:40.639 --> 01:06:44.719part of the Secure Act two pointzero law that was passed last year.92401:06:44.960 --> 01:06:49.440Nearly twenty two million Americans could qualifyfor a new government matching contribution designed to92501:06:49.480 --> 01:06:54.760boost retirement savings when the program takeseffect. In twenty twenty seven, the92601:06:54.880 --> 01:06:59.360provision in the two point zero SecureAct was signed into law, and it92701:06:59.400 --> 01:07:02.480converts this savers credit. So whatI just mentioned, instead of it being92801:07:02.519 --> 01:07:06.519a tax credit, they would turnit into a match a change intended to92901:07:06.599 --> 01:07:12.840encourage more lower income Americans to takeadvantage of the available government contribution. Because93001:07:13.159 --> 01:07:17.199the people oftentimes at that income levelhave so much deductions they can't even use93101:07:17.239 --> 01:07:23.000their credit because there are taxes,they don't have a big enough taxable income.93201:07:24.119 --> 01:07:27.440This is a way to help actuallymake sure that those people at least93301:07:27.480 --> 01:07:30.039get that money in some form orfashion. So I'm actually, you know,93401:07:30.280 --> 01:07:33.760it sounds really cool to me.Even people with traditional iras or roth93501:07:33.800 --> 01:07:38.400iras would be eligible for this governmentmatch So the same way that your employer93601:07:38.440 --> 01:07:42.079matches your FOURUM on k. You'llhave a third one that's the government match,93701:07:42.559 --> 01:07:46.320and they will directly contribute into yourFOURU one K or irase for doing93801:07:46.679 --> 01:07:50.559what you should be doing anyways,sounds good. Bank of American analysts of93901:07:50.679 --> 01:07:59.079Beta sub romanian I said this goesback to Dean in a monologue talked about94001:07:59.079 --> 01:08:02.880the market being over and things ofthat nature and concerned about drops this.94101:08:03.000 --> 01:08:09.119Analyst from Bank of America said,pension plans have the lowest allocations to equities94201:08:09.480 --> 01:08:13.760that they have had in over twentyyears, which I found interesting. Lowest94301:08:13.800 --> 01:08:16.680allocation to equities over twenty years.That may be because fixed income is so94401:08:16.720 --> 01:08:23.520attractive to conservative investors. Yeah,when you're dealing with the pension and stuff94501:08:23.520 --> 01:08:26.640you want to you can be onthe safe side. You can right now,94601:08:26.720 --> 01:08:29.359you can. You're not trying toreach for just the five percent return.94701:08:29.439 --> 01:08:30.560You can get that on the safeside, right So, I think94801:08:30.600 --> 01:08:34.760that may be why she argues thatthe S and P five hundred is not94901:08:34.920 --> 01:08:41.039overvalued because so much of the economynow is tech oriented, which of course95001:08:41.079 --> 01:08:45.960has the high growth rate as opposedto in the past where it's been mostly95101:08:45.000 --> 01:08:48.359industrial. Yeah, but does thismake it? Does it like you were95201:08:48.359 --> 01:08:53.279obviously here during the tech bubble,you know one, does this feel anything95301:08:53.319 --> 01:08:56.800similar? No? Okay, nothe tech bubble. That'd big problem with95401:08:56.800 --> 01:09:00.199the tech bubble, and no oneis there was no substance to it.95501:09:00.239 --> 01:09:04.199And if you if you back testthis current rally onto the one bubble,95601:09:04.880 --> 01:09:08.199we're not even close to the peakof it. It was. It was95701:09:08.239 --> 01:09:11.680amazing. I mean, we're stillwe would have to be up another like95801:09:11.720 --> 01:09:15.640eighty percent. We would want wewould want to get every IPO that came95901:09:15.680 --> 01:09:19.960out because every single IPO was guaranteedto jump away fifty like we said them96001:09:19.960 --> 01:09:23.720before. That's more like the spackcraze two years ago, and that's why96101:09:23.720 --> 01:09:30.079we tanked right after that. Speakingof thirteen that year, the value discount96201:09:30.119 --> 01:09:34.680is continuously increasing. Value is extremelycheap. We're approaching levels we haven't seen96301:09:34.720 --> 01:09:40.039since the pandemic in twenty twenties.So the only other time it was this96401:09:40.159 --> 01:09:44.359low was back in the early nineties. And again was that I mean the96501:09:44.479 --> 01:09:47.039late nineties that coincided with the onebubble. So going back to that,96601:09:47.079 --> 01:09:50.560do you think though, maybe valueright now is struggling because people just get96701:09:50.600 --> 01:09:55.359out of growth and skip over value, go straight to fixed income because they're96801:09:55.359 --> 01:10:00.600getting about the same return. It'spossible, for sure it would check out.96901:10:00.800 --> 01:10:04.960But when you have an equity sideof allocations, it's if it's sixty97001:10:05.000 --> 01:10:11.680percent, it's sixty percent, right. You're not changing just because fixed incomes97101:10:11.680 --> 01:10:15.199paying more. You're not going tochange to a fifty to fifty. You97201:10:15.239 --> 01:10:16.960know, you're still going to bethat sixty. So that allocation that we're97301:10:17.000 --> 01:10:21.319going into right now has been predominantlygrowth, right, And so how do97401:10:21.479 --> 01:10:25.720That's a good point you have tolike, eventually money managers are going to,97501:10:25.800 --> 01:10:30.760you know, change that change thatportion of the portfolio from a growth97601:10:30.800 --> 01:10:33.560oriented to maybe a more value orientedAnd that's gonna be that's gonna have to97701:10:33.600 --> 01:10:36.520be forced, and we just haven'tseen it. You still want the equity97801:10:36.520 --> 01:10:41.560exposure, Hey Hamton Hers you probablysee the ads on TV online and Health97901:10:41.560 --> 01:10:45.640Treatment Company had its best day sincebecoming a public company last week. It98001:10:45.760 --> 01:10:50.359jumped thirty one percent after reporting astrong quarter with strong guidance. I think98101:10:50.399 --> 01:10:55.319the thing that I take away fromthis is this is a spack. This98201:10:55.399 --> 01:11:00.720is actually a special purpose acquisition company. H is how they became public,98301:11:00.079 --> 01:11:06.039and SPACs have for the most partturned to doggie do almost without exception.98401:11:08.039 --> 01:11:15.479Here's an exception. This may beone of the few SPACs ever to work98501:11:15.800 --> 01:11:19.880well. I mean they're working withit's like male stuff going on, and98601:11:19.880 --> 01:11:25.239then female stuff and then hair loss. They got all those A lot of98701:11:25.239 --> 01:11:28.399hot areas, right, A lotof a lot of big areas. Yeah,98801:11:28.760 --> 01:11:30.039ed and hair loss, those twoof the bigges. And what they're98901:11:30.039 --> 01:11:34.119trying to do with that, HolyLike you read about what their whole philosophy99001:11:34.199 --> 01:11:38.520is like, don't I think it'sa bad thing. Blah blah blah.99101:11:38.520 --> 01:11:42.439We'll just we're here to help you. And that's their whole spiel. It99201:11:42.479 --> 01:11:45.000was amazing. We'll be coming upon a break here once again. Make99301:11:45.039 --> 01:11:47.800a note of our April second symposium. If you have not gotten on board,99401:11:48.079 --> 01:11:51.359that's going to be a really coolday with a lot of really interesting99501:11:51.399 --> 01:11:55.119speakers. You're going to take alot away from it. I can almost99601:11:55.119 --> 01:11:58.880promise that we'll be back right afterthis break. This is The Money Matter99701:11:58.960 --> 01:12:01.039Show. Welcome back. You're listeningto The Money Matter Show. We're in99801:12:01.079 --> 01:12:04.560the second hour of a great episode. I'm here with Todd Glick, Dave99901:12:04.600 --> 01:12:08.359Sherwood, Dan Greenberg will be backin a second, and I'm Dylan Greenberg.100001:12:08.640 --> 01:12:11.199And what Dave said on the wayout of last segment was talking about100101:12:11.199 --> 01:12:15.279April second, we are holding asyposium with We're gonna have our firm there.100201:12:15.520 --> 01:12:17.800We're gonna have Jonathan Sabilia of Edwardlaw Ferm, We're have the Johnson100301:12:17.800 --> 01:12:20.479Brothers, a Johnson Tax Lab Group, and we're gonna have James T.100401:12:20.560 --> 01:12:25.199Harris, the new morning drive hostfor kN S T seven ninety And what100501:12:25.239 --> 01:12:29.199we're gonna be talking about is fromtwelve to three to lunch hour lunch symposium100601:12:29.199 --> 01:12:33.960over at Lapeloma Country Club up onSunrise. Lunch is included show up and100701:12:34.039 --> 01:12:36.960it's just we're gonna have a panel. We're gonna be talking about the political100801:12:38.000 --> 01:12:41.640atmosphere coming into the election. We'regonna be talking about the market outlook,100901:12:41.680 --> 01:12:45.520how to mitigate risk, how tomitigate risks through estate planning with Jonathan,101001:12:45.560 --> 01:12:47.800how to mitigate risk through taxes withthe Johnson Group, and then how to101101:12:47.800 --> 01:12:53.239mitigate risks through the equity markets withus in the fixed income side. And101201:12:53.239 --> 01:12:55.720then James T. Harris is gonnabe talking. We're gonna be introduced to101301:12:55.760 --> 01:12:58.720him, see how the new everythingabout him, and learn more about him101401:12:58.720 --> 01:13:01.279and everything because obviously Garrett Leeu washere for a long time and now we're101501:13:01.560 --> 01:13:03.880moving to James t Err so wewant to get to know him a little101601:13:03.920 --> 01:13:08.760better. It's gonna be a great, very informative symposium. So if you're101701:13:08.760 --> 01:13:12.159interested, feel free you can eithergo to our website at Greenberg Financial dot101801:13:12.159 --> 01:13:15.079com or give us a call atfive two zero five four four four nine101901:13:15.159 --> 01:13:18.279zero nine. We'd be happy tosign you up on our event bright page.102001:13:18.680 --> 01:13:21.960It's a lot of fun now.A lot of opportunities like this come102101:13:23.039 --> 01:13:27.119along in a year and two sonArizona, and this is a really,102201:13:27.159 --> 01:13:32.600i think, beyond us trying todrum up some new business, if you102301:13:32.640 --> 01:13:38.119will, this is really an educationalseminar where you're gonna get a lot of102401:13:38.159 --> 01:13:41.199good information. You're gonna be ableto meet some people that you hear on102501:13:41.279 --> 01:13:45.239the radio all the time or seeon TV. Well. In what we102601:13:45.359 --> 01:13:47.479do at Greenberg Financial and Genda,like in a day to day basis that102701:13:47.520 --> 01:13:50.479we try to work with, wetry and build the whole one stop shop102801:13:50.520 --> 01:13:55.319idea where it's got us as theinvestment side. You got Jonathan Sabilly as102901:13:55.319 --> 01:13:58.560a state planning side, and thenyou got now the Johnson brothers with the103001:13:58.560 --> 01:14:00.600tax side, and we try groupit all together so you don't have to103101:14:00.600 --> 01:14:04.079go to all these different places andeverything like that. But now what this103201:14:04.199 --> 01:14:06.800allows is that you get everybody inone place to ask them questions. It103301:14:06.800 --> 01:14:09.840will be a panel, probably aboutan hour. I think the last hour103401:14:09.880 --> 01:14:13.680is gonna be a whole panel justasking whatever questions you have. I remember103501:14:13.760 --> 01:14:17.840that it was last week I wason the phone with the Johnson Group putting103601:14:17.880 --> 01:14:21.600together a couple of ten ninety nine'sfor a client that had gone to them103701:14:21.640 --> 01:14:27.319to have their taxes done and couldn'tproduce their ten ninety nine And at the103801:14:27.359 --> 01:14:30.720same time I was, Jonathan wastelling me in the other ear that he103901:14:30.800 --> 01:14:34.880had finished a small estate affidavit fora client that we had who needed that104001:14:35.039 --> 01:14:41.239for someone who had passed away.Well, this year we have more democratic104101:14:41.279 --> 01:14:44.479elections throughout the world than we've everhad in the history of the globe.104201:14:44.560 --> 01:14:49.000Really, yes, so there isgoing include Russia, It includes democratic governments,104301:14:49.039 --> 01:14:54.000So take it for whatever you wantit to be. But one,104401:14:54.439 --> 01:14:57.600Yeah, so it's a year fullof changes, right, and so how104501:14:57.640 --> 01:15:00.439do you get it prepare for changes? Well, you got a know what's104601:15:00.479 --> 01:15:02.960potentially going to be changed, andthat's what we're gonna be telling you about104701:15:02.960 --> 01:15:08.079this event. So it's a verycrucial one for anyone who really cares about104801:15:08.079 --> 01:15:11.920their financial plan, who wants toactually know how to be most efficient and104901:15:12.039 --> 01:15:15.279how to have the the maximum strategyto get them to where they want to105001:15:15.319 --> 01:15:17.680go. So again five to zerofive four four four nine zero nine or105101:15:17.760 --> 01:15:21.199go to Greenberg Financial dot com.I also wanted to shout out another event,105201:15:23.000 --> 01:15:28.359the Jewish Museum and Holocaust Center thatI serve on. They have a105301:15:29.520 --> 01:15:33.319gala events a Masquerrete ball on Marchtwenty third. It's almost sold out,105401:15:33.359 --> 01:15:36.680so if you are interested, goto the two Sun Jewish Museum a Holocaust105501:15:36.680 --> 01:15:40.239Center web page and you can signup there. It's going to be a105601:15:40.279 --> 01:15:44.199fun event. And I care alot about that organization and really care about105701:15:44.199 --> 01:15:46.479what they do for the community.Thanks for what you do. ID appreciate105801:15:46.520 --> 01:15:50.479that Victoria's Secret's already down twenty fivepercent over the last twelve months, dropped105901:15:50.520 --> 01:15:55.960another twenty five percent at the openon Thursday, disappointing guidance for the quarter106001:15:56.720 --> 01:16:02.439and for the whole year. Acouple of Friday morning we had reactions from106101:16:02.479 --> 01:16:06.520a couple of earnage reports. Costcohad hit a new all time high every106201:16:06.560 --> 01:16:11.399day for about a month, upsixty five percent in the last twelve months,106301:16:11.479 --> 01:16:14.399but it was trading at a peof over fifty. This is a106401:16:14.439 --> 01:16:19.560retailer people, not surprising the stockdrop seven percent on Friday. They reported106501:16:19.720 --> 01:16:25.520a good quarter, but not agreat quarter. Same thing for Broadcom.106601:16:26.079 --> 01:16:30.479Broad COM's involved in AI, sameas Costco, up one hundred and thirty106701:16:30.520 --> 01:16:34.600percent in the last twelve months.Quarterly report good, not great, down106801:16:34.680 --> 01:16:40.199four percent. So the expectations rightnow are getting very, very high.106901:16:40.560 --> 01:16:43.800Yeah, you know, I sawan interesting chart this week where it showed107001:16:44.079 --> 01:16:47.079US households are now paying roughly asmuch interest on other kinds of debts like107101:16:47.119 --> 01:16:51.479credit cards and student loans as theyare for their mortgages, which I think,107201:16:51.560 --> 01:16:56.880you know, shows that people aren'tspending as much on mortgages because a107301:16:56.880 --> 01:16:59.680lot of them have the old schoolones that will now we call old school107401:16:59.720 --> 01:17:01.439the two years ago that have youknow, the two to three percents,107501:17:01.920 --> 01:17:05.279but the credit card rates. They'renot fixed in, so they're going to107601:17:05.439 --> 01:17:10.720you know, increase a lot.This is the first time in history that107701:17:11.199 --> 01:17:15.840for US household interest payments on creditcard debts and student loans equal mortgage debt107801:17:15.960 --> 01:17:18.840payments. It's Dean called it ahouse of cards. I would would not107901:17:19.279 --> 01:17:23.079call it a house of card,but it certainly is something to be concerned108001:17:23.119 --> 01:17:29.279about. A lot of debt ismounting. I think in February the layoffs108101:17:29.319 --> 01:17:32.960for the highest in two thousand andnine, higher than in twenty twenty.108201:17:33.159 --> 01:17:36.640That's what they said, which isvery surprising to meet Zoo. You know,108301:17:36.840 --> 01:17:41.439I guess it's how you classify layoffsbetween furlough and you know, if108401:17:41.479 --> 01:17:44.199you if you fur load them,that's not technically a layoff. So you108501:17:44.239 --> 01:17:46.800know, you're saying that because intwenty twenty there was certainly more jobs that108601:17:46.840 --> 01:17:50.479were lost. It's just that Iwonder if they were laid off, right,108701:17:50.560 --> 01:17:54.680That's what I'm saying they were like, because furlough doesn't mean that they108801:17:54.680 --> 01:17:56.640were laid off. It's just meansthat we want to get them back in108901:17:56.680 --> 01:18:00.239a few a couple months. Wedidn't lay them off. We just the109001:18:00.279 --> 01:18:02.079store. So don't come in becausethe stor's closed and there won't be any109101:18:02.119 --> 01:18:08.079customers right because the store's closed.You look back on that and you wonder109201:18:08.119 --> 01:18:10.399how we got through that. Wealways have a problem with the way they109301:18:10.399 --> 01:18:13.319handled that. It's closing all themom pop shops, saying you can't do109401:18:13.359 --> 01:18:15.720this, you got to be homefor the safety, and then opening you109501:18:15.720 --> 01:18:19.279can only have the mass companies opened, Amazon, A, Walmart, all109601:18:19.319 --> 01:18:24.439those companies to stay open, andthen you reopen these everybody to reopen the109701:18:24.439 --> 01:18:28.319world. And now everybody's mad atthose companies were making so much money when109801:18:28.319 --> 01:18:30.199in the reality, the governments shutdown all these mom pop shops that went109901:18:30.239 --> 01:18:33.720out of business because they can't affordto go out, like they can't afford110001:18:33.760 --> 01:18:36.600to shut down. But then they'reall mad at Amazon for making so much110101:18:36.600 --> 01:18:44.079money the same and most of theycreated that whole thing. It's just ridiculous110201:18:44.079 --> 01:18:45.479to me. I never won't getover that for a while. But most110301:18:45.760 --> 01:18:48.680of them, most of the majorbrokerage firms were closed for a year.110401:18:49.760 --> 01:18:53.560If you wanted to talk to yourguy, he was at home, you're110501:18:53.600 --> 01:18:57.079gonna do it on or your galthey were at home, they weren't they110601:18:57.079 --> 01:19:00.079weren't open. We never we werenever closed for one single day. But110701:19:00.159 --> 01:19:05.680we have a nice space here andwe were respectful of one another and there110801:19:05.680 --> 01:19:10.640was no need to close. Butno one came in right March and April110901:19:10.640 --> 01:19:13.960of twenty twenty and May it startedto trickle in jeing a little bit more111001:19:14.000 --> 01:19:16.920and eventually we got back to normal. But many of the major brokeras turns111101:19:17.119 --> 01:19:21.680were closed for an entire year.Yep. So we're able to be different.111201:19:21.720 --> 01:19:27.960But Target starting a subscription similar toAmazon Prime. They're gonna start it111301:19:28.039 --> 01:19:30.479next month. It's gonna include stufflike same day delivery for over I think111401:19:30.479 --> 01:19:34.159it was thirty five dollars stuff likethat. It's a paid membership that if111501:19:34.199 --> 01:19:36.680you sign up during their promotion periodfor the next couple of months, it's111601:19:36.680 --> 01:19:40.520forty nine dollars a year. Afterthat it's about one hundred dollars a year,111701:19:41.119 --> 01:19:44.960and it's in you get discounts,and then they are bringing back their111801:19:44.960 --> 01:19:48.279Circle Card, their Target Card whereyou get five percent off and stuff like111901:19:48.279 --> 01:19:53.399that. So it's similar to AmazonPrime of how it's like the whole subscription112001:19:53.439 --> 01:19:58.000thing and they're trying to boost sales. Well, Walmart tried to do that,112101:19:58.039 --> 01:20:00.359and it's just kind of been abig you know, yawn. Oh,112201:20:00.439 --> 01:20:05.479it's working for them, for Target, for Walmart. Walmart Plus CEO112301:20:05.640 --> 01:20:10.760was saying that the members spending ittwice as much as non members, Right,112401:20:10.840 --> 01:20:15.279but I don't when's the last timeyou order something from Amazon? I'm112501:20:15.279 --> 01:20:17.000not a Walmart Plus member. Now, when's the last time you order something112601:20:17.000 --> 01:20:21.159from Amazon? This morning? Okay? How about you Todd two days ago?112701:20:21.520 --> 01:20:27.560Yeah? Me yesterday? And howabout Walmart Plus? Dylan m a112801:20:27.600 --> 01:20:30.279member, So I'll do it.I don't order it from Walmart Me neither.112901:20:30.359 --> 01:20:34.199Now what I'm talking about. WhatI'm saying is Walmart CEO says doing113001:20:34.239 --> 01:20:39.399well compared to this. Obviously Amazon'sthe king of it. But people like113101:20:39.479 --> 01:20:42.600Target and if they get a littlediscount of targets, Target's known to be113201:20:42.640 --> 01:20:45.119a little more expensive, so ifthey get a little discount, they might113301:20:45.159 --> 01:20:46.560go more. Now, give Deancredit. He was talking about Target when113401:20:46.560 --> 01:20:49.359it when it was down in theone ten, one to fifteen area after113501:20:49.399 --> 01:20:53.800the boycott, they dropped to oneoh two. I mean miss that.113601:20:54.199 --> 01:20:59.760I midst that boycott talk and hita new fifty two week high last week.113701:21:00.000 --> 01:21:02.159One hundred and seventy five dollars.That was October. It was one113801:21:02.239 --> 01:21:06.680hundred and two hit one hundred andseventy five dollars last week. The results113901:21:06.720 --> 01:21:12.720and outlook were both of love expectationson the back of numerous brokerage upgrades.114001:21:13.159 --> 01:21:18.680Seventy five percent return on target infour months. Well it's after a fifty114101:21:18.680 --> 01:21:23.079percent drop, so yeah, that'smade Well, you didn't want to be114201:21:23.119 --> 01:21:26.199out before the fifty percent drop,right, you know what? You know114301:21:26.199 --> 01:21:28.520which one hasn't come back after?The boy? Kayete is Anne has a114401:21:28.520 --> 01:21:31.680bush? How far back had itcome? It's a sixty two dollars?114501:21:31.960 --> 01:21:35.000Okay? And they got down therewhat fifty dropped to about forty five?114601:21:36.239 --> 01:21:41.199Prett damn good. That's the oneBill Gates bought a ton of when it114701:21:41.239 --> 01:21:44.439was down at yep, the highforties. Yeah, it's come back a114801:21:44.479 --> 01:21:47.640little bit, but it's still wayoff of its twenty sixteen high of one114901:21:47.680 --> 01:21:49.680hundred and thirty one dollars. Right, but if you bought at forty and115001:21:49.680 --> 01:21:53.720it's now or bought a fifty andounce of sixty, you made twenty percent.115101:21:54.560 --> 01:21:58.039And I don't think it's been sixmonths, has it? I still115201:21:58.119 --> 01:22:01.720like constantly. Forty five dollars wasinto twenty two. Forty five dollars was115301:22:01.840 --> 01:22:08.439June of twenty it was, Yeah, it was like fifty five dollars in115401:22:08.520 --> 01:22:11.720June of twenty three. The boywas it last June or two junesy?115501:22:11.880 --> 01:22:14.600I think the boycott was twenty three, wouldn't it? But I don't know115601:22:14.680 --> 01:22:15.520I remember now either way. Okay, So if it was twenty three,115701:22:15.560 --> 01:22:18.199then the point is, and Ithink I think Gans mentioned this a number115801:22:18.199 --> 01:22:21.039of times on the show. Whenyou have a major company like that that115901:22:21.159 --> 01:22:27.359has a problem, that's something youwant to start looking at, because that116001:22:27.520 --> 01:22:30.000idea of like what we're talking aboutwith Apple in the first hour is like116101:22:30.039 --> 01:22:32.079they're having just bad news go around. Obviously, the boycott's a little worse116201:22:32.159 --> 01:22:35.359news in the sense of it mighttake a little longer, but companies aren't116301:22:35.359 --> 01:22:39.880going to just sit there and letthat happen to their stock. I think116401:22:39.920 --> 01:22:42.520one of the ones I keep lookingat is Tesla, thinking gosh, it's116501:22:42.560 --> 01:22:46.159awfully cheap here, But then Iremember their their business model right now is116601:22:46.199 --> 01:22:49.960not not great. You know,it's not a great business to be in116701:22:50.159 --> 01:22:53.399right this minute. Yeah, theywere the King of it, and now116801:22:53.439 --> 01:22:57.039it's getting saturated, especially with thatnews about BYD. They might have some116901:22:57.079 --> 01:23:03.039missies coming, tremendous competition, droppingprices, shrinking margins. I don't know.117001:23:03.680 --> 01:23:08.119It just seems like that's probably nota recipe for the kind of stock117101:23:08.199 --> 01:23:10.800you'd want to It doesn't seem likethey're coming they're coming out with new versions,117201:23:10.800 --> 01:23:13.800I think, but it's nothing toodifferent. No, No, the117301:23:13.800 --> 01:23:16.079biggest difference will be mileage, right, and they've really not changed anything since117401:23:16.079 --> 01:23:18.680they started in charging. Yeah,if they can, if they can figure117501:23:18.680 --> 01:23:23.079out charging speed and mileage, that'show they gain their edge. Again.117601:23:23.199 --> 01:23:26.479It was like Todd was talking aboutthe quantum computing being huge, or somebody117701:23:26.520 --> 01:23:29.479that can come up with a batterythat'll give you five hundred miles really give117801:23:29.520 --> 01:23:31.239you five hundred miles. It's aganga exactly. I mean, that's a117901:23:31.319 --> 01:23:34.479that's a game changer. Also,you see Elon must suit open Ai.118001:23:35.199 --> 01:23:40.119No, so he sued open Aibecause he thinks that it's not doing what118101:23:40.159 --> 01:23:43.840it's mission initially told him that it'sgoing to be. It's for it's a118201:23:43.920 --> 01:23:46.800nonprofit. They're saying now it's forprofit doing whatever they want. Company and118301:23:46.840 --> 01:23:49.000he doesn't like that, so he'ssuing him, and he said he will118401:23:49.079 --> 01:23:53.439drop the suit if they change theirname from open AI to closed AI.118501:23:54.199 --> 01:23:58.800What it's trolling again, I meanjust just trolling again. He doesn't like118601:23:58.840 --> 01:24:01.119their philosophy now, doesn't think they'resticking with how because he helped start the118701:24:01.119 --> 01:24:05.640company funded. He doesn't like howthey're going about things now with AI interesting118801:24:06.079 --> 01:24:10.880one of the more interesting guys inthe world. We've got another break coming118901:24:10.920 --> 01:24:13.439up here again. We thank youfor joining us on this Sunday morning.119001:24:13.479 --> 01:24:15.680Dean, we'll be back for thelast segment. We'll talk to you right119101:24:15.720 --> 01:24:19.119after this break. Welcome back,everybody. This is the money about the119201:24:19.119 --> 01:24:24.000show. Dean Greenberg, Dave,Dylan, and Todd. We are back119301:24:24.039 --> 01:24:28.159for another week. So what's yourobservation on the past week, Miss Mberg.119401:24:28.359 --> 01:24:30.359It was a typical week Monday,Tuesday, Wednesday, Thursday, right,119501:24:30.640 --> 01:24:34.159and then Friday kind of a littledifferent. Well, what Friday showed119601:24:34.239 --> 01:24:39.880us is that at some time thisthing is reversus now is it will be119701:24:39.920 --> 01:24:42.600the continuation On Monday, I willreverse and go back. If it's a119801:24:42.600 --> 01:24:47.279continuation, you're going to see itcontinue for a while. Reason being is119901:24:47.319 --> 01:24:50.399the people are gonna say, Igotta take some of my profits. The120001:24:50.479 --> 01:24:56.439video Great Stock, Great Company.Since earnings, it went from six to't120101:24:56.439 --> 01:24:59.760eighty and it got up to nineseventy. Yeah, right, and then120201:24:59.800 --> 01:25:02.600from nine seventy down eight sixty eightand one day one hundred point turnaround.120301:25:03.520 --> 01:25:08.439Do I think that there will bebuyas at certain levels? Absolutely, But120401:25:08.560 --> 01:25:12.039is that why we trim? Yes. I mean if you have thirty five120501:25:12.119 --> 01:25:14.600or forty fifty shares, that's different. But if you had two hundred,120601:25:14.600 --> 01:25:16.640three hundred, four hundred, fivehundred shares, trimming a little bit at120701:25:16.640 --> 01:25:20.760those levels is not a bad ideabecause it's really increased a lot, because120801:25:20.760 --> 01:25:24.680there's nothing worse. If you thinkabout it. You got three hundred shairs,120901:25:24.960 --> 01:25:28.680you're up thirty thousand, Well,it was up seventy what was it121001:25:28.760 --> 01:25:32.720up? It was up sixty thirty. So you went basically up fifty,121101:25:32.760 --> 01:25:35.760which is fifteen thousand, and thenyou lost fifteenth thousand or thirty grand.121201:25:35.880 --> 01:25:39.479Yeah, you know, in ain a split second. And it went121301:25:39.920 --> 01:25:45.079from six fifty to nine to fiftyand right, well by two weeks.121401:25:45.119 --> 01:25:47.560But it all, you know,but you always have to know what your121501:25:47.640 --> 01:25:50.760plan is for everything that we do. I mean, you guys have discussed121601:25:50.760 --> 01:25:56.760that the whole time, and it'sit's pretty interesting. On if you don't121701:25:56.760 --> 01:25:59.399have a plan, it's not there. We had somebody coming on Friday.121801:25:59.520 --> 01:26:00.560He was from our you know,he's a client from us, from out121901:26:00.600 --> 01:26:03.319of town. And he came inand he saw it, and I said,122001:26:03.319 --> 01:26:05.119well, what do you think youhave to going through the plan?122101:26:05.960 --> 01:26:09.880He says, you know what,I feel pretty good. I'm only you122201:26:09.880 --> 01:26:13.000know, twenty seven, and youknow I've been able to put some money122301:26:13.000 --> 01:26:15.800away. But you know, ifI just stay on a path, I'm122401:26:15.840 --> 01:26:17.840set up for life, you know. But he never saw that before,122501:26:17.880 --> 01:26:21.960even at twenty five, twenty six, twenty seven years old. It helps122601:26:23.000 --> 01:26:26.840people realize where they're going and howmuch money they have and how much they122701:26:26.880 --> 01:26:29.960have to save to where they needto go. Well, well, I122801:26:29.960 --> 01:26:31.520was going to say, we weremeeting with another client where we actually out122901:26:31.520 --> 01:26:35.039of some a financial advisor we workwith, but doesn't you know, use123001:26:35.079 --> 01:26:40.920our financial software and was actually ableto see how we do financial planning.123101:26:40.920 --> 01:26:44.199And he gave us a huge complimentat the end, saying that he did123201:26:44.239 --> 01:26:48.880not realize the robustness of this software, and how easily it was user friendly123301:26:49.119 --> 01:26:53.960for the client. On the otherside, it's really a conversation that helped123401:26:54.119 --> 01:26:59.439answer questions that they've always had,but also bring a certain level of security123501:26:59.760 --> 01:27:02.079to his mind that he never thoughthe could have because of all these what123601:27:02.159 --> 01:27:05.159if scenarios that you drum up inyour head that you don't really know how123701:27:05.199 --> 01:27:09.800to answer unless you ever really gothrough it. Where this plan we can123801:27:09.840 --> 01:27:14.119actually simulate going through whatever you havein your head that you know you're afraid123901:27:14.159 --> 01:27:16.720about and show you whether or notit would actually make a difference in your124001:27:16.720 --> 01:27:20.079plan. And the fairness. He'sbeen around a long time. It's like124101:27:20.119 --> 01:27:24.800a lot of us, Dave andI and the financial plans we always used124201:27:24.840 --> 01:27:27.960to do well, just for thesolid life insurance, okay, and the124301:27:28.079 --> 01:27:30.520solinuities and stuff. It was aploy to get him in to do that.124401:27:31.039 --> 01:27:34.439This is a real financial plan.And then you know, and I've124501:27:34.479 --> 01:27:36.680tried to get him in here tolook at this for a while, and124601:27:36.720 --> 01:27:40.920I think now going forward he's goingto say, hey, teach me this.124701:27:40.920 --> 01:27:43.199This is great. I want tolearn this and start doing this for124801:27:43.319 --> 01:27:46.439my clients too. Well. Inthis particular client is a client of substantial124901:27:46.479 --> 01:27:50.319net worth. Whatever problems he hasin his life, money is not one125001:27:50.319 --> 01:27:56.319of them. But he really tooksome peace of mind from being able to125101:27:56.359 --> 01:28:00.800see it all on the screen,consolidated and picked toral form essentially, and125201:28:00.880 --> 01:28:05.439he can't wait to bring his sonin to show his son and try to125301:28:05.479 --> 01:28:10.439get his son down to travel downthis same road. The main thing that125401:28:10.520 --> 01:28:12.520gave him a piece of mind wasthat we were able to go through all125501:28:12.520 --> 01:28:15.560his different scenarios he's had in hishead for a while, like what if125601:28:15.600 --> 01:28:17.159he dies earlier, what if shelives a lot longer, what if he125701:28:17.199 --> 01:28:20.319spends more money. All of thatwas able to go through just like that125801:28:20.760 --> 01:28:25.359because we were able to change thescenarios quickly. So we answered all of125901:28:25.399 --> 01:28:28.239his what ifs in his head thathe's had for years. It sounded like,126001:28:28.680 --> 01:28:30.239and we're able to do it inone meeting. Took hour and a126101:28:30.239 --> 01:28:33.239half and we were able to gothrough everything, and he left there a126201:28:33.239 --> 01:28:35.920lot happier, even though we onour end we're like, yeah, you'll126301:28:35.960 --> 01:28:39.800be all right, but it hadto make him comfortable. And the way126401:28:39.840 --> 01:28:42.359you do that is being able togo through all the different scenarios that they126501:28:42.399 --> 01:28:44.960have drummed up like you're saying,throughout the years. And he has the126601:28:44.960 --> 01:28:49.479best part him being an engineer.He's as analytical and cautious as possible.126701:28:49.600 --> 01:28:54.159Yes, he questions everything and wantsto look at it. So when you126801:28:54.159 --> 01:28:59.239can make somebody that is always lookingat every single angle comfortable, this is126901:28:59.239 --> 01:29:00.479a great softa. You know what, It gets better all the time.127001:29:00.520 --> 01:29:04.119That's what I like. Well,they update it, they make it better,127101:29:04.159 --> 01:29:06.479they take input and they make itbetter and better and better. Yeah.127201:29:06.479 --> 01:29:09.359And the whole thing is like Imean, we've been told like you127301:29:09.399 --> 01:29:12.000should charge for this plan and everything. We just don't agree with that.127401:29:12.199 --> 01:29:16.000It's not how we believe that we'reThat wouldn't be in our helping people as127501:29:16.000 --> 01:29:17.960to be trying to get money frompeople. Instead, we do this for127601:29:18.000 --> 01:29:21.319free because it's something that can help. For example, in two years when127701:29:21.359 --> 01:29:25.920the tax laws change, and ifthey change you know two percent, this127801:29:26.239 --> 01:29:30.159software will automatically update the taxes intoit. No I have to It's not127901:29:30.199 --> 01:29:32.239like I have to go in andchange numbers or anything. It's automatically done.128001:29:32.319 --> 01:29:34.800I mean it has it too.With rm DS. If you're turning128101:29:34.840 --> 01:29:38.760seventy three within the next couple ofyears. Obviously you'll start rm ds.128201:29:38.800 --> 01:29:41.640If you're forty five years old andyou're doing this plan, your rm DS128301:29:41.640 --> 01:29:45.600will be seventy five. Age seventyfive. The plan automatically has that set128401:29:45.600 --> 01:29:47.760in for you. And that bringsus to the event that we're we're talking128501:29:47.800 --> 01:29:50.680about in April second, because you'regonna learn a lot of strategies at this128601:29:50.760 --> 01:29:56.760event and strategies that you can possiblyimplement before the tax changes you know,128701:29:56.840 --> 01:30:00.520actually change. That way you canbe prepared. We can act actually put128801:30:00.560 --> 01:30:03.960those what if strategies into your planbefore you ever do them to see whether128901:30:04.039 --> 01:30:06.960or not it makes a difference.We can play with if they take the129001:30:08.039 --> 01:30:10.960tax code of this, how doesit help your plan? We can play129101:30:10.960 --> 01:30:13.880with all those we if scenarios.So that's why again this event is so129201:30:13.960 --> 01:30:15.880important because you're going to learn thestrategies you need to know for your particular129301:30:15.920 --> 01:30:19.439plan, and then you can bringthose ideas back to us and we can129401:30:19.479 --> 01:30:25.520do a complimentary comprehensive financial plan foryou. After that and the April second129501:30:26.479 --> 01:30:30.760symposium that we're doing, it's allabout opening our eyes to what's coming and129601:30:30.840 --> 01:30:34.720showing you ideas on how to mitigaterisk, Why you have to mitigate risk,129701:30:35.119 --> 01:30:41.479how do you make your portfolio moreconservative or more aggressive depending where we129801:30:41.520 --> 01:30:44.119are in the markets, how wego ahead and do the estate plan,129901:30:44.239 --> 01:30:47.279how we save on taxes. What'sgoing to happen with the political election one130001:30:47.319 --> 01:30:50.640way or the other. These areall things that we really like. I'm130101:30:50.680 --> 01:30:54.720bringing in J. T. Harris, who's the morning guide now that took130201:30:54.720 --> 01:30:58.680over for Garrett Lewis and Garrett movedto the afternoon. I want to see130301:30:58.680 --> 01:31:00.840what he's all about. Want to, you know, see if you know130401:31:00.880 --> 01:31:03.159we like him and not like himdown here? You know what I'm saying.130501:31:03.319 --> 01:31:06.119I know he was down here before, Like I wanna, I want130601:31:06.119 --> 01:31:10.359to, I wanna you know kanushe has been good to us, so130701:31:10.399 --> 01:31:13.840I want to see see what happensand and and meet him and then and130801:31:13.920 --> 01:31:15.479see what we if we can helpeach other. But the thing is,130901:31:15.520 --> 01:31:19.239if you do not show up forthis type of symposium, it's on you.131001:31:19.880 --> 01:31:24.079We're giving it to you for free. In fact, it's costing us131101:31:24.079 --> 01:31:28.119because I'm buying you lunch. Okay, I'm gonna buy you lunch to show131201:31:28.199 --> 01:31:30.000up to hear what we have tosay, and you go, Okay,131301:31:30.039 --> 01:31:33.800there's gotta be something it's not.Yeah, that's right. That's how we131401:31:33.880 --> 01:31:39.359develop on business. We do thingsfor you first. We take the risks131501:31:39.359 --> 01:31:42.439that you might not like us orthe ideas or whatever, but show up.131601:31:42.720 --> 01:31:45.239But you know what, I've beenable to build a business because at131701:31:45.279 --> 01:31:47.520the end of the day, peoplelike dealing with us. They like our131801:31:47.560 --> 01:31:51.800team approach, they like our planningsoftware, they like the way we talk,131901:31:51.880 --> 01:31:56.680they like our integrity, they likeeverything that we do. Our word132001:31:56.760 --> 01:31:59.640is a word and we stick toit. And that's how we go ahead132101:32:00.039 --> 01:32:02.039and grow up business. So again, if you're interested, you can give132201:32:02.079 --> 01:32:04.880us a call five to zero fivefour four four nine zero nine and go132301:32:04.960 --> 01:32:10.159to our website Greenberg Financial dot com. Well, you'll start hearing all the132401:32:10.239 --> 01:32:14.279radio commercials talking about it on ouron KNST. You'll hear it on our132501:32:15.199 --> 01:32:19.000Saturday radio shows at six thirty,twelve and twelve thirty. Actually, it132601:32:19.079 --> 01:32:23.039might change because of our time changeit does. We don't change. It132701:32:23.159 --> 01:32:27.039changes change. I keep telling youthat we don't change. Yeah. But132801:32:27.119 --> 01:32:30.760and here's here's the deal I makewith you. You come, it's free.132901:32:30.920 --> 01:32:32.840You come. I'm giving you lunchif you think it's not worth it,133001:32:33.079 --> 01:32:38.199I'll let you buy me lunch andtell me why. There deal.133101:32:38.359 --> 01:32:40.640How about that you, I willgo and spend time with you, and133201:32:40.640 --> 01:32:44.600you tell me why it wasn't worthyour time to come, eat lunch and133301:32:44.680 --> 01:32:46.279listen to what we have to say. There's not some trick to get you133401:32:46.319 --> 01:32:49.039on the list, but will beatyou up and tell your finallys to come.133501:32:49.439 --> 01:32:53.239We'll have plenty of people. Wehave plenty of people that signed up133601:32:53.279 --> 01:32:58.079already. I'm sure we're going tooversubscribe. We just started really pushing it.133701:32:58.199 --> 01:33:00.520And and once it gets out there, it's out. Then once it's133801:33:00.560 --> 01:33:04.880closed as closed. Remember starting tomorrow, the market opens at six thirty closes133901:33:04.920 --> 01:33:09.520at one. I'm glad I don'thave to be here that early anymore for134001:33:09.600 --> 01:33:13.560thirty years. Thirty years, yep, doesn't to daily save any times.134101:33:13.600 --> 01:33:19.039Doesn't impact anybody except people in thisIndustryah, I was born in the morning.134201:33:19.119 --> 01:33:23.680It's easy, it's fine, youknow mine. It is nice to134301:33:23.760 --> 01:33:26.880have the market close at one ifyou have errands to run or things you134401:33:26.920 --> 01:33:29.520need to even two, you canget you out of here. Three o'clock,134501:33:29.600 --> 01:33:31.079four o'clock. You know what.It gives us the ability to do134601:33:31.199 --> 01:33:35.039things that we can never do anyplaceelse. Coach. I've always liked the134701:33:35.079 --> 01:33:39.439six thirty to one, that's eightmonths out of the year. But as134801:33:39.439 --> 01:33:42.279I'm getting older, Dean, I'mliking the seven thirty to two a little134901:33:42.319 --> 01:33:44.960bit. Yeah, well it's gonnago away, so I don't like it135001:33:44.960 --> 01:33:46.000too much. It's gonna stay atsix thirty at some point, right,135101:33:46.199 --> 01:33:48.159Yeah, he's six thirty. Wellyeah, but Dave, you go to135201:33:48.199 --> 01:33:53.960sleep now at seven, so itdoesn't matter. And I'm very, very135301:33:53.960 --> 01:33:57.159fortunate in that I sleep like ababy, which is Yeah, it's just135401:33:57.199 --> 01:34:00.359the normal tough Becau's still dark onceit gets light out at five. It's135501:34:00.399 --> 01:34:04.720not really that's exactly the few weeksit's dark still, it's tougher. No,135601:34:04.840 --> 01:34:08.840absolutely right, absolutely right, althoughI don't think I don't know how135701:34:08.920 --> 01:34:12.239dark it is at six thirty now. It's like I'm saying, when you135801:34:12.239 --> 01:34:14.960wake up at five am, ohyeah, rather than six. Remember if135901:34:15.000 --> 01:34:16.560you missed any part of the show, you can go to our website.136001:34:17.119 --> 01:34:24.399It comes on tomorrow. We alwaysput the podcast up on Monday. You136101:34:24.439 --> 01:34:27.439know a lot of people listen toit. You can listen to iHeartRadio it's136201:34:27.479 --> 01:34:30.800a free app. And then onTV show, same thing, and on136301:34:30.920 --> 01:34:33.880TV shows also radio shows on Saturday, a little different format, a little136401:34:33.920 --> 01:34:38.000bit more educational, just lets youget to know who we are and what136501:34:38.039 --> 01:34:41.560we think, especially with the monologue. And on the Ihearted Radio app.136601:34:42.079 --> 01:34:44.039I don't even know what you callthat, but what do you say?136701:34:44.039 --> 01:34:48.359App? App that's available, alwaysavailable by noon on Sunday. Yeah,136801:34:48.520 --> 01:34:53.079it's always there. I don't knowif that's a podcast. Yeah, it's136901:34:53.479 --> 01:34:55.920for all the podcasts. No,it's always there by noon on Sunday.137001:34:56.279 --> 01:35:00.720On the other podcast networks, thereis that tech is it what they call137101:35:00.760 --> 01:35:05.880a podcast podcast? So you canYeah, you know. AI's been driving137201:35:05.880 --> 01:35:10.159the market. So it was nicethis week to see a report from salesforce137301:35:10.239 --> 01:35:14.079dot com, who's right in themiddle of this, saying that AI spending137401:35:14.239 --> 01:35:20.279is expanding even into small businesses.Was sixty percent of small businesses expecting to137501:35:20.319 --> 01:35:26.439increase their technology budget this year ifyou can handle the pullbacks. The AI137601:35:26.600 --> 01:35:30.239market is just at the beginning ofthe Bowl game, maybe first second inning,137701:35:30.319 --> 01:35:33.159maybe third inning. Max, allright, we have a long way137801:35:33.199 --> 01:35:36.600to go, but it's going tobe volatile and it's going to go ahead137901:35:38.000 --> 01:35:41.880and be scary sometimes, but theupsides I think are going to continue for138001:35:41.960 --> 01:35:45.039years to come. All Right,we're gonna have to say goodbye. We138101:35:45.119 --> 01:35:47.760appreciate you listening, being part ofour show. We'll be back next week138201:35:47.760 --> 01:35:54.319with your money matters. Be happy, be healthy, and we all strive to be