Risk Assets Continue Trading Higher, What’s Next?

WEBVTT 1 00:00:00.640 --> 00:00:04.719 Good morning everybody. It's that time again, eight o'clock Sunday morning. It's 2 00:00:04.759 --> 00:00:10.080 Money Matter's time with Dean Greenberg and the people from Greenberg Financial Group. I 3 00:00:10.080 --> 00:00:13.000 hope you doing well this weekend. Well. For the first time in a 4 00:00:13.039 --> 00:00:15.320 while, we haven't made a new high at the end of the week, 5 00:00:15.560 --> 00:00:18.640 but we weren't down much either. We're only down point three percent on the 6 00:00:18.719 --> 00:00:22.800 S and P one percent on the down one point two percent on the NASDAK. 7 00:00:23.519 --> 00:00:29.199 But interesting, the equal weighted RSP S and P five hundred up one 8 00:00:29.239 --> 00:00:35.679 percent for the week. So do you mitigate risk? Do you take some 9 00:00:35.719 --> 00:00:40.759 money off the table? But you still think we're going much much higher. 10 00:00:41.159 --> 00:00:43.679 We had a lot of things happen this week that we're going to talk about 11 00:00:44.200 --> 00:00:49.960 with everybody the round table. You saw the speech with UH our President Joe 12 00:00:50.000 --> 00:00:56.600 Biden, and that's pretty much. It wasn't a speech. It wasn't a 13 00:00:56.600 --> 00:01:00.000 State of the Union, as you know, it's pretty much a it can't 14 00:01:00.159 --> 00:01:06.879 pain speech, which we got to talk about because if you really hear what 15 00:01:06.959 --> 00:01:12.840 he's saying, it's scary for our economy. He just doesn't get the difference 16 00:01:15.159 --> 00:01:21.359 between giving away free stuff and inflation. He is making the job so hard 17 00:01:21.400 --> 00:01:26.000 for your own power and the Federal Reserve to get inflation down with his rhetoric 18 00:01:26.079 --> 00:01:33.599 of just giving away free stuff, reducing mortgage interest. Mortgage is given a 19 00:01:33.680 --> 00:01:37.680 tax credit to four hundred dollars a month, giving money to this person, 20 00:01:37.719 --> 00:01:42.280 giving money to that person. So these are things we need to talk about 21 00:01:42.319 --> 00:01:48.040 because there is a real possibility if he gets in, these things are going 22 00:01:48.079 --> 00:01:52.400 to come into play. And we all know a lot of the stuff he 23 00:01:52.480 --> 00:01:57.239 said was just political, but it's scary that he believes it. It's scary 24 00:01:57.280 --> 00:02:04.439 that half of our Congress stands up and applauds him. It's scary that they 25 00:02:04.439 --> 00:02:10.159 don't care that we have a thirty nine trillion dollar debt. It scares me 26 00:02:10.280 --> 00:02:15.599 that he can't even talk unless he's reading. It scares me that the one 27 00:02:15.639 --> 00:02:23.599 thing he was prepared for lake and Riley, and he called her Lincoln Riley, 28 00:02:23.280 --> 00:02:30.639 who happened to be the US Trojans head coach. It was lacoln not 29 00:02:30.840 --> 00:02:36.240 Lincoln. And he was prepared for that because he had that little button on 30 00:02:36.280 --> 00:02:40.280 the side. So even when you prepare somebody and get them ready for something 31 00:02:40.879 --> 00:02:46.719 and he messes it up, what else is he gonna mess up besides everything? 32 00:02:49.360 --> 00:02:51.599 All Right, this is the Moneymatter Show. It's brought to you by 33 00:02:51.599 --> 00:02:55.120 Greenberg Financial Group. Greenberg Financial Group is both the registered offessors and advisory and 34 00:02:55.159 --> 00:03:00.680 they broke a deal or registered with the SEC members of CIPIIC and members of 35 00:03:00.719 --> 00:03:05.680 FINRA. On the show, we always talk about different ideas, subjects, 36 00:03:05.879 --> 00:03:12.360 products, strategies. Everything has risk. Understand the risks prior to investing. 37 00:03:12.800 --> 00:03:15.879 Even if it goes up, it's a risk. If it goes down, 38 00:03:15.240 --> 00:03:20.719 there's a risk. Allocate, Allocate, allocate, and you'll be okay at 39 00:03:20.719 --> 00:03:24.680 the end. So as the markets fell a little bit this week to still 40 00:03:24.719 --> 00:03:29.639 up pretty good for the year seven percent for the Nasdaq, seven percent for 41 00:03:29.680 --> 00:03:35.000 the SMP, almost five percent for the equal weighted S and P five hundred, 42 00:03:35.120 --> 00:03:38.479 and the Dow is up almost three percent. Why is it important for 43 00:03:38.520 --> 00:03:39.919 the equal weighted S and P to go up? That means it's just not 44 00:03:40.000 --> 00:03:44.080 those tech stocks, but boys, some of them are flying. Nvidia. 45 00:03:44.360 --> 00:03:46.840 Did you see that on Friday? Man, Day after day after day, 46 00:03:46.840 --> 00:03:52.639 it's up. It got to nine hundred and seventy dollars before it reversed and 47 00:03:52.719 --> 00:03:57.879 gave back all that money that day and some it reversed about one hundred points 48 00:03:59.360 --> 00:04:03.759 one hundred points. That's what's going to happen. You need to realize that's 49 00:04:03.840 --> 00:04:08.840 that volatility is something you can handle. If it's not, you be should 50 00:04:08.840 --> 00:04:15.520 be mitigating risk by reducing some of your positions as they go higher. Mitigating 51 00:04:15.599 --> 00:04:17.800 risk is so important at this time. The markets are going to be volatile. 52 00:04:17.839 --> 00:04:20.360 The higher they go, the more volatile they are. I think they 53 00:04:20.439 --> 00:04:24.399 hit resistance areas. I think we can have a little bit of a pullback 54 00:04:24.480 --> 00:04:29.879 right now. I don't see your crash unless something happens that we don't know 55 00:04:29.920 --> 00:04:32.639 about. It's going to be back and forth with both Biden versus Trump. 56 00:04:32.720 --> 00:04:39.240 Their ideas. There is such a contrast between the two ideas that is going 57 00:04:39.319 --> 00:04:41.839 to be very simple to pick which side of the fense you want to be 58 00:04:41.879 --> 00:04:47.199 on. These fence huggers, if they want to go with the the woke 59 00:04:47.279 --> 00:04:51.160 programs, they are going to go left. The fence huggers that want to 60 00:04:51.160 --> 00:04:58.720 go with a strategy to help our economy, a real economy, not his 61 00:04:58.879 --> 00:05:06.759 fake economy, continue to be sustainable, then you're gonna go right. As 62 00:05:06.800 --> 00:05:17.360 I was saying earlier, the idea I'm inflating of going ahead and uh giving 63 00:05:17.399 --> 00:05:27.519 money away in this environment just to stimulating economy. I mean, I don't 64 00:05:27.560 --> 00:05:30.920 know what the details are. I just saw the fact that, you know, 65 00:05:30.160 --> 00:05:33.720 for homeowners, we're gonna give away four hundred dollars a month credit for 66 00:05:33.759 --> 00:05:40.319 two years, four hundred month dollar credit for two years. Why do they 67 00:05:40.360 --> 00:05:46.560 deserve that? Markets go up, markets go down, interestrates go up, 68 00:05:46.560 --> 00:05:51.319 interstrates go down. We're trying to bring interest rates down and that will benefit 69 00:05:51.360 --> 00:05:57.959 everyone. But rather than Congress doing anything, they just want to come up 70 00:05:58.000 --> 00:06:00.319 with I'm gonna give, give, give, so they get votes, votes, 71 00:06:00.399 --> 00:06:06.000 votes. Let's raise the federal minimum wage. Well, I don't think 72 00:06:06.000 --> 00:06:11.920 anyone's working for seven dollars an hour anywhere, especially when you can get more 73 00:06:11.959 --> 00:06:14.959 than that from the government by sitting home on your butt and doing nothing. 74 00:06:16.079 --> 00:06:21.160 I think the average minimum wage around the country is probably twelve dollars an hour, 75 00:06:23.000 --> 00:06:28.600 most of fifteen seventeen dollars that people are able to earn an hour, 76 00:06:28.800 --> 00:06:32.360 and they still don't want to go to work. What we need to do 77 00:06:32.439 --> 00:06:36.279 he talks about ending the programs, you know, doing something at the border. 78 00:06:36.279 --> 00:06:39.720 We'll talk about that in the second, but doing something in the border 79 00:06:39.800 --> 00:06:44.600 so people will be deterred to come in because then they can they're going to 80 00:06:44.680 --> 00:06:49.319 have their juror or their their hearing in six to eight months rather than five 81 00:06:49.360 --> 00:06:55.240 to six years, and that'll stop people from coming. Really, have you 82 00:06:55.279 --> 00:07:00.839 not looked around and realize that once they're hear you don't get rid of them. 83 00:07:00.959 --> 00:07:04.319 Have you not realized that even when they commit crimes, we don't send 84 00:07:04.319 --> 00:07:09.759 them back. Have you not realized you're flying them in, not just coming 85 00:07:09.800 --> 00:07:14.839 in from the border. Have you not realized this stuff? Have you not 86 00:07:14.920 --> 00:07:20.439 realized our cities that need money to help the homeless and the poor are having 87 00:07:20.480 --> 00:07:28.759 to feed in hells illegal immigrants that you're allowing to come across the border. 88 00:07:29.879 --> 00:07:34.360 So your idea about speeding up the process is a good idea, but not 89 00:07:34.439 --> 00:07:40.839 if you don't shut down the border, not if you don't educate, not 90 00:07:40.959 --> 00:07:47.560 if you don't find jobs. They cannot come here, and we support them, 91 00:07:48.160 --> 00:07:54.360 all of them, especially illegally, and if they come illegally, they 92 00:07:54.360 --> 00:07:58.600 don't even get a hearing. They go back home. There are so many 93 00:07:58.639 --> 00:08:03.160 people. It's this respont spankful to every immigrant that has come here and done 94 00:08:03.199 --> 00:08:09.399 that the right way to become legal. Not everybody coming to US as a 95 00:08:09.439 --> 00:08:13.839 refugee. Not everybody coming here is looking for asylum. That's all they say, 96 00:08:13.879 --> 00:08:18.639 because that's all they have to say. Change the rules, change the 97 00:08:18.759 --> 00:08:22.199 laws, make it more difficult to come in and make sure you can help 98 00:08:22.279 --> 00:08:28.319 America benefit. We got Chinese people coming here. Why are Chinese coming across 99 00:08:28.399 --> 00:08:37.080 the border and are flying in here legally? Why do we have illegal Chinese 100 00:08:37.159 --> 00:08:43.240 people coming Nobody wants to answer this. No party in the media press wants 101 00:08:43.279 --> 00:08:46.759 to dig in and get this, and the White House doesn't want to tell 102 00:08:46.840 --> 00:08:54.759 us. All he wanted to do last night the other night, I should 103 00:08:54.759 --> 00:09:00.240 say, was discuss the fact that Republicans won't sign a bill well of gold. 104 00:09:00.240 --> 00:09:03.039 Assign the bill. You call it political. Of course it's political, 105 00:09:03.039 --> 00:09:09.879 and you will play the political game for three years. Now it's time to 106 00:09:09.000 --> 00:09:15.080 come up with something that is a plan, a real plan that suits both 107 00:09:15.120 --> 00:09:22.039 sides. If you're bringing them across the border, we need to educate them. 108 00:09:22.240 --> 00:09:26.279 If you're bringing them across the border, we need to find job placement 109 00:09:26.399 --> 00:09:33.120 for them. Get corporations to help us educate the people come across the board 110 00:09:33.320 --> 00:09:35.600 in the areas that they need, whether it's technology, doctors, lawyers, 111 00:09:35.639 --> 00:09:48.080 accountants, nurses, agriculture, how hospitality. They have to learn English, 112 00:09:48.080 --> 00:09:50.559 they have to pass tests, They have to show us why they want to 113 00:09:50.600 --> 00:09:54.639 be here, not because we're going to give them free housing and free shelter 114 00:09:54.080 --> 00:10:01.919 and free support and free medical We cannot continue to see our trillions of dollars 115 00:10:01.960 --> 00:10:05.399 of debt continue to go higher and right now with the industrates where they are, 116 00:10:05.399 --> 00:10:09.080 that's happening. And he sits there and he talks about how he inherited 117 00:10:11.840 --> 00:10:16.279 an abysmal economy. Wake up, people, We came out of a pandemic, 118 00:10:16.399 --> 00:10:20.360 which, by the way, he'll never give credit to President Trump for 119 00:10:20.440 --> 00:10:24.600 getting the vaccine done in a miracle amount of speed, time warp speed. 120 00:10:26.679 --> 00:10:30.200 Before he came in as president, that vaccine was already big, in and 121 00:10:30.320 --> 00:10:33.559 out, and nobody wanted the Trump vaccine, and then everyone had to have 122 00:10:33.639 --> 00:10:43.519 the vaccine otherwise you couldn't work in all government and federal jobs. The hypocrisy 123 00:10:43.840 --> 00:10:48.639 of his speech on Thursday night is the hypocrisy of what we have in our 124 00:10:48.679 --> 00:10:56.200 country. He wants billions of dollars to go to Ukraine. I get it. 125 00:10:56.559 --> 00:11:01.440 We cannot allow Putin to survive and to unkah. But of course he 126 00:11:01.480 --> 00:11:05.320 puts the fear in. You think he's just stop being at Ukraine. Well, 127 00:11:05.360 --> 00:11:09.440 why don't you tell me why even Wan indicate Ukraine. I keep asking 128 00:11:09.440 --> 00:11:15.080 that question why did Putin want Ukraine? And we had interviews with him, 129 00:11:15.200 --> 00:11:18.240 ask him the question why did you go to Ukraine? What does Ukraine have 130 00:11:18.559 --> 00:11:22.159 that you wanted? Why do you think you deserve to have Ukraine? Then 131 00:11:22.200 --> 00:11:26.000 that will give you a little insight if he's going to any other countries. 132 00:11:28.360 --> 00:11:35.240 But yes, we cannot allow a dictator like Putin to advance. I get 133 00:11:35.279 --> 00:11:41.320 that, but we do not keep track of that money. Where's it go? 134 00:11:41.519 --> 00:11:46.159 Billions of dollars, billions and billions of dollars. And then what he 135 00:11:46.240 --> 00:11:50.440 says is we need to give this money away. We need to do this, 136 00:11:50.600 --> 00:11:58.039 and what we need to do is increase taxes on the wealthy. If 137 00:11:58.120 --> 00:12:03.279 I hear one more time out of a Democrat's mouth that we have to pay 138 00:12:03.440 --> 00:12:09.399 a fair share and that billionaires shouldn't be paying these should be paying more in 139 00:12:09.480 --> 00:12:16.080 taxes and corporations should be made more in taxes, I'm going to really lose 140 00:12:16.120 --> 00:12:22.559 it and I'm going to tell you why, because it's the Democrats and the 141 00:12:22.639 --> 00:12:28.840 Republicans that will not change the tax code to make them pay more. If 142 00:12:28.840 --> 00:12:31.440 you're going to try to just put a wealth tax on everything else, it's 143 00:12:31.480 --> 00:12:35.600 not going to work. How do you have a wealth tax on unrealized gains? 144 00:12:35.759 --> 00:12:41.240 How do you know what somebody's net worth is? Realize gains you pay 145 00:12:41.320 --> 00:12:46.559 for. We had an opportunity was the last year, the year before, 146 00:12:46.519 --> 00:12:54.279 to go ahead and revoke the carried interest. Carried interest is what most billionaires 147 00:12:54.279 --> 00:12:58.559 and hedge funds are able to take there their money that they would get in 148 00:12:58.639 --> 00:13:01.360 salary and convert it to long term gains, which means they're only paying twenty 149 00:13:01.399 --> 00:13:09.000 percent because it's invested in their fun and they're tastes selling shares at long term, 150 00:13:09.039 --> 00:13:15.159 so they're doing carried interest. But they didn't. It came down to 151 00:13:15.240 --> 00:13:22.840 Cinema. Christian Cinema decided no and didn't even get a border money for us 152 00:13:24.159 --> 00:13:28.000 or to do something for that, but she decided to vote against it, 153 00:13:28.480 --> 00:13:30.879 which means that they didn't want to do it. And you know why, 154 00:13:31.279 --> 00:13:35.360 because that's where the money comes from. You think it comes from all their 155 00:13:35.360 --> 00:13:41.399 constituents. Come on, now, you think it's coming from the poor people 156 00:13:41.679 --> 00:13:45.840 and the middle class people that can't even afford to live month to month right 157 00:13:45.879 --> 00:13:50.159 now, they're not giving hardy that much donations. The big money comes from 158 00:13:50.639 --> 00:13:56.799 the wealthy and the wealthy of the ones that want lower taxes, they're not 159 00:13:56.840 --> 00:14:03.399 gonna change it. They're gonna lip sing lip tell you all day long, 160 00:14:03.679 --> 00:14:11.000 fair share. It makes no sense. You want to fast share. And 161 00:14:11.000 --> 00:14:13.399 you've heard me say this one hundred times over the last thirty years of doing 162 00:14:13.399 --> 00:14:22.000 the show. Do a flat tax every cent of income that anybody gets, 163 00:14:22.440 --> 00:14:28.279 there's no red off. You pay a low flat tax. Period. That's 164 00:14:28.320 --> 00:14:35.200 a fair share. You think it's fair when fifty sixty percent of Americans hardly 165 00:14:35.200 --> 00:14:41.240 pay any taxes? Why is that fair? Why is it fair the top 166 00:14:41.279 --> 00:14:48.679 one percent pay most of the taxes. That's not fair. Don't use the 167 00:14:48.679 --> 00:14:52.399 word fair share in my presence again. I don't want to hear it. 168 00:14:52.639 --> 00:14:56.240 I want to hear a comprehensive plan on how you're going to go ahead and 169 00:14:56.279 --> 00:15:05.399 make the tax structure for everybody fair. Change the tax laws. It's no 170 00:15:05.639 --> 00:15:11.559 secret that the richest people own real estate, real estates. People make tons 171 00:15:11.559 --> 00:15:16.840 of money. Well, billionaires have a lot of real estate. You know 172 00:15:16.840 --> 00:15:22.200 what the beauty of that is depreciation. Depreciation means that you can offset any 173 00:15:22.240 --> 00:15:28.759 gains that you have. Depreciation gives you the ability to use the tax cold 174 00:15:30.159 --> 00:15:35.039 to not pay that much in taxes real estate. But of course they don't 175 00:15:35.039 --> 00:15:39.559 want to touch that because that would do what prevent an economy from growing? 176 00:15:41.399 --> 00:15:46.639 How about the exchanges. You sell one property and you make a hundred million 177 00:15:46.679 --> 00:15:50.799 dollars, you put into another property. You don't have to pay taxes. 178 00:15:52.600 --> 00:15:56.120 I guess what, It makes the other property even more expensive because you're willing 179 00:15:56.159 --> 00:16:00.519 to not pay taxes and pay up. What would happen? You pay taxes 180 00:16:00.840 --> 00:16:06.039 at a long term capital gain, right, and now you're going to go 181 00:16:06.039 --> 00:16:08.480 ahead and look for another opportunity if it comes your way, and you won't 182 00:16:08.519 --> 00:16:17.799 be forced to pay higher to do it. The whole system needs a revamping. 183 00:16:18.519 --> 00:16:22.519 The whole system needs a revamping to do it. I am tired of 184 00:16:22.600 --> 00:16:26.200 listening to my they have to pay their fast share corporations. They want to 185 00:16:26.200 --> 00:16:32.879 go to twenty eight percent. Twenty eight percent pay for taxes on corporations. 186 00:16:33.600 --> 00:16:36.480 They say, the average corporation only pays fifteen percent. But they're going to 187 00:16:36.519 --> 00:16:41.120 fix it because everyone has to pay fifteen percent. Now, most corporations don't 188 00:16:41.120 --> 00:16:47.559 pay hardy that much again. Tax codes, tax codes, tax codes, 189 00:16:47.919 --> 00:16:52.159 change the tax laws. You change the tax laws and figure out the way 190 00:16:52.240 --> 00:16:57.960 people can pay corporations. If it was me, if you, if you, 191 00:16:59.039 --> 00:17:03.559 if you stop paying, if you stop having a corporations pay taxes, 192 00:17:04.240 --> 00:17:08.680 prices come down. Every time they pay taxes. They have to make money 193 00:17:08.720 --> 00:17:12.920 too. They're gonna raige prices. We're in an inflation every period of time. 194 00:17:12.960 --> 00:17:15.920 I know they want to tell you. Inflation came from nine percent down 195 00:17:15.960 --> 00:17:22.880 to three percent. Three something we needed down lower. How many years was 196 00:17:22.920 --> 00:17:29.599 it under one? We needed to inflate the economy. Well, he allowed 197 00:17:29.640 --> 00:17:30.960 it to go so fast, so high, because he wouldn't do anything on 198 00:17:32.119 --> 00:17:36.240 energy, nothing on energy. His supply chain got so backed up. There 199 00:17:36.279 --> 00:17:40.279 was nothing he would do to open up the supply chain. He can increased 200 00:17:40.279 --> 00:17:44.519 wages. Everybody had to increase wages they wanted. Wages have gone up so 201 00:17:44.720 --> 00:17:48.160 much, the other stuff could come down. Wages are not coming down. 202 00:17:49.119 --> 00:17:53.640 They're not so to see inflation come down. It's not gonna be easy if 203 00:17:53.680 --> 00:17:59.160 you lower interest rates in this environment, if you with giving out money and 204 00:17:59.200 --> 00:18:03.319 everything else, it's gonna drive inflation back up and they're gonna have to raise 205 00:18:03.359 --> 00:18:08.519 interest rates again. We don't want to do that. We want interstrates to 206 00:18:08.559 --> 00:18:14.400 be able to come down. What's normal interest rates. We're normal interest rates. 207 00:18:14.440 --> 00:18:18.960 The problem is everything's so much more expensive that people can't pay for it. 208 00:18:18.799 --> 00:18:21.880 So what do you want to do is come up with giving them free 209 00:18:21.920 --> 00:18:25.279 money. We don't have to pay for school debt, don't have to pay 210 00:18:25.279 --> 00:18:29.079 for this, don't have to pay for that. People don't even understand what 211 00:18:29.200 --> 00:18:34.559 a contractual obligation is anymore. If they if Biden could just get them out 212 00:18:34.599 --> 00:18:38.920 of everything, they get out of it. They don't need to pay credit 213 00:18:38.960 --> 00:18:44.279 cards. Balances are rising and with the interest they have to pay, it's 214 00:18:44.359 --> 00:18:45.920 amazing. But they're gonna go ahead and say, Okay, you not to 215 00:18:47.160 --> 00:18:49.279 We're not gonna you're not gonna pay thirty two dollars anymore for late charge. 216 00:18:49.319 --> 00:18:52.839 You're gonna pay eight dollars. Isn't that great? Well, you know what, 217 00:18:53.160 --> 00:18:59.680 they're gonna charge us more on other things. They start charging on your 218 00:18:59.680 --> 00:19:03.359 balance on balances. They're gonna raise the minimum on the balance that they take. 219 00:19:03.880 --> 00:19:06.000 If it was five hundred dollars, maybe it's a thousand, Maybe it 220 00:19:06.039 --> 00:19:10.000 goes to five thousand, and that way they will have another charge that you 221 00:19:10.079 --> 00:19:11.799 get on credit cards. They do that, that's fine. You know what's 222 00:19:11.799 --> 00:19:15.400 gonna happen. You pay fifty dollars a hundred, they're gonna raise that twenty 223 00:19:15.400 --> 00:19:22.519 five dollars for everybody fifty dollars one hundred dollars. You're not helping us, 224 00:19:22.519 --> 00:19:26.960 Biden by doing that. You're creating an inflationary period that we're gonna have to 225 00:19:27.000 --> 00:19:33.599 pay more. It's common sense, but you don't want to tell the public 226 00:19:33.640 --> 00:19:38.119 that because you want to sound like you are the man on the white shining 227 00:19:38.480 --> 00:19:45.079 in white shining armor coming to save America. You're destroying America. You've got 228 00:19:45.200 --> 00:19:51.160 us into two wars. You talk about how we're we have all this stuff 229 00:19:51.200 --> 00:19:55.160 going on in China and we're in control. Really, because I haven't seen 230 00:19:55.920 --> 00:20:04.160 any aver healthcare essential health care drugs equipment being manufactured in the United States. 231 00:20:04.519 --> 00:20:10.240 I'm gonna give you credit. We've done stuff with our chips, yes, 232 00:20:10.319 --> 00:20:14.559 that has helped. We want to keep that technology as much as possible to 233 00:20:14.640 --> 00:20:18.200 US, But you've allowed thirty thousand Chinese people into a country, and don't 234 00:20:18.200 --> 00:20:22.160 think that they're not going to get tech jobs and start learning what's going on. 235 00:20:25.039 --> 00:20:29.279 Look at the riding on the wall, understand common sense where it is. 236 00:20:29.519 --> 00:20:33.160 And I sit there and I cannot believe that there's people that were cheering 237 00:20:33.240 --> 00:20:38.000 on thinking how his speech was so great because he didn't fall asleep or bumble 238 00:20:38.039 --> 00:20:41.720 stumble through the whole thing and be able to talk actually for an hour and 239 00:20:41.759 --> 00:20:47.319 whatever it was, twenty minutes, thirty minutes, and then he shuffles in, 240 00:20:47.400 --> 00:20:53.720 shuffles out. I can't believe people don't understand that if he keeps creasing 241 00:20:55.119 --> 00:21:00.319 the debt, it's a problem. That's a problem. Take everything else oute 242 00:21:00.319 --> 00:21:04.319 of the equation. Just look at it economically. That's all I care about. 243 00:21:06.160 --> 00:21:12.079 Economically. Why do you think we have inflation? Okay? Who do 244 00:21:12.119 --> 00:21:22.079 you think created that? That that that rapid inflation? We allowed energy go 245 00:21:22.160 --> 00:21:26.599 all the places we stopped, were drilling the border, coming across, taking 246 00:21:26.599 --> 00:21:29.279 care of everybody. Why is that because he got rid of all the Trump 247 00:21:29.920 --> 00:21:33.640 policies? Okay, why don't you just work with what we have and build 248 00:21:33.720 --> 00:21:40.599 on it. Don't eliminate all this stuff. Makes no sense, but they 249 00:21:40.640 --> 00:21:44.599 believe this stuff. They believe he's doing a great job. They believe he 250 00:21:44.720 --> 00:21:48.720 has a great economy. Okay, the stock market is up because of a 251 00:21:48.720 --> 00:21:53.559 few stocks. The stock market is up with a house of cards. In 252 00:21:53.599 --> 00:21:59.480 my opinion, At any time, it could be knocked down ten and it 253 00:21:59.480 --> 00:22:03.079 would stir and and and it'll still be over value to a certain extent. 254 00:22:03.119 --> 00:22:07.480 What about the rest of the companies, What about the rest of the things 255 00:22:07.480 --> 00:22:14.960 that have to happen. People are making money, okay, and they're not 256 00:22:15.039 --> 00:22:19.160 able to pay their bills. That's because the prices of everything on an everyday 257 00:22:19.200 --> 00:22:25.359 basis are too high. He doesn't know that. Most people in Congress don't 258 00:22:25.440 --> 00:22:30.039 know that. Even people with well that are wealthy feel like they don't know, 259 00:22:30.079 --> 00:22:32.920 but they get it. It feels them, but they can pay it. 260 00:22:33.079 --> 00:22:38.720 But the average person has to make eleven thousand dollars more in their paycheck 261 00:22:40.200 --> 00:22:45.960 in order to be able to pay for the inflationary prices that we have eleven 262 00:22:45.000 --> 00:22:48.839 thousand dollars more. So if they were making one hundred grand and they got 263 00:22:49.240 --> 00:22:55.480 a and they've moved up and say that, so now they're making one hundred 264 00:22:55.480 --> 00:23:00.200 and eleven thousand. You're tak inflation out. They're still underwater by four thousand 265 00:23:00.279 --> 00:23:07.039 dollars, four thousand dollars. They have to have made eleven thousand dollars more 266 00:23:07.200 --> 00:23:11.880 ten percent rays in order to be where they are now. And he talks 267 00:23:11.920 --> 00:23:15.079 about if we go do this on the wealthy and we get to wealth tax, 268 00:23:15.359 --> 00:23:22.279 that's five hundred billion dollars over ten years. That's fifty billion dollars a 269 00:23:22.400 --> 00:23:27.359 year. Don't we give more money away than that? How do we give 270 00:23:27.359 --> 00:23:32.519 it away hundreds of billions of dollars? What are you talking about fifty billion 271 00:23:32.559 --> 00:23:37.440 dollars a year being this great light bulb that just went off. We need 272 00:23:37.480 --> 00:23:41.839 more than that. The problem is if you keep taxing and do you keep 273 00:23:41.880 --> 00:23:47.759 spending, it doesn't work. You need to stop spending. And I didn't 274 00:23:47.799 --> 00:23:52.400 hear one thing out of the entire speech or any strategy they have on how 275 00:23:52.400 --> 00:23:56.440 they're gonna keep spending. And all they wanted to do was say, hey, 276 00:23:56.839 --> 00:24:00.000 they're gonna cut SoC security, they're gonna cut Medicare. That is not 277 00:24:00.400 --> 00:24:06.240 true. But we do need a plan from Congress on how we're going to 278 00:24:06.319 --> 00:24:10.400 survive past the next three five ten years to be able to keep those security, 279 00:24:10.720 --> 00:24:14.799 keep Medicare, keep a healthcare, keep our economy going, and don't 280 00:24:14.839 --> 00:24:18.680 fall into a recession depression. That's what we need to have. We'll be 281 00:24:18.759 --> 00:24:22.519 right back. It's the Money Matter of show. And thank you for listening. 282 00:24:22.079 --> 00:24:30.440 You guys are what why we do this? Welcome back everybody. It's 283 00:24:30.480 --> 00:24:33.759 the Money Matter Show. This is Dean Greenberg with Dave Sherwood, Dylan Greenberg, 284 00:24:33.839 --> 00:24:37.640 and Todd Glick is my last name. Thank you. I do that 285 00:24:37.720 --> 00:24:45.000 all the time. For how you doing today, Toddy? Not very good, 286 00:24:45.039 --> 00:24:48.119 but we had an interesting week, Thank you very much. We had 287 00:24:48.160 --> 00:24:52.240 interesting day. Save me time, yeah, I mean we're all back to 288 00:24:52.319 --> 00:24:55.039 normal day. I bet a lot of people try to tune in right now 289 00:24:55.039 --> 00:25:00.160 when they were the wrong hour. Nobody cares about daylight saving time. Mean, 290 00:25:00.240 --> 00:25:03.519 what are you talking about a lot of people's clocks don't reset right away. 291 00:25:03.880 --> 00:25:06.799 We don't change. No. I'm saying like, if you have an 292 00:25:06.839 --> 00:25:08.880 alarm for seven a m. On that day, it won't go on. 293 00:25:10.079 --> 00:25:12.319 Actually wake up to listen. Wow, you're you're pretty optimistic. Well, 294 00:25:12.400 --> 00:25:15.880 people wake up to go to church, so yeah, you kind of got 295 00:25:15.920 --> 00:25:22.359 to get a church on the time. That's yeah. Then the last day 296 00:25:22.400 --> 00:25:26.000 of the Colder aren't open, the last day of the Tucson Festival of Books. 297 00:25:26.160 --> 00:25:30.279 A lot going on right now. Festival of Books not going on right 298 00:25:30.319 --> 00:25:33.720 now. That's a big deal, it is. It is. They both 299 00:25:33.720 --> 00:25:37.519 come the same weekend, right, You were saying about the market. We 300 00:25:37.559 --> 00:25:41.960 have the FED Chair of pal testifying in front of Congress this week saying that 301 00:25:41.079 --> 00:25:45.799 rates are not going to be dropping anytime soon until he sees economic reports that 302 00:25:45.839 --> 00:25:48.880 allows him to do so. And that's not what the market wanted to hear, 303 00:25:48.960 --> 00:25:52.400 except the market doesn't carry anymore about rates, so it just kept going 304 00:25:52.480 --> 00:25:56.119 higher. You heard it here first, right, that there's not going to 305 00:25:56.119 --> 00:25:57.720 be a rake cut in March, probably not going to be a rake cut 306 00:25:57.759 --> 00:26:03.839 in June. Been saying that for months and months, yep, and it's 307 00:26:03.920 --> 00:26:07.000 like, come on, people, wake up. Technically, market's the most 308 00:26:07.079 --> 00:26:12.920 overbought it's been in four years, up seventeen of the last twenty weeks. 309 00:26:12.960 --> 00:26:17.240 I will say last week was down a little bit, which was the third 310 00:26:17.680 --> 00:26:22.799 down week in the last four months, as investors had just been buying any 311 00:26:22.839 --> 00:26:27.720 weakness. Most continuous rally that we've had in over sixty years, which is 312 00:26:27.720 --> 00:26:32.920 that fomo you know, if you're missing out. Yeah, it's really interesting 313 00:26:32.960 --> 00:26:34.759 the type of environment we're in right now, because you know, when you 314 00:26:34.799 --> 00:26:37.680 take the Fed's perspective, they really are in a rock and a hard place 315 00:26:37.720 --> 00:26:41.880 because they have two mandates set by Congress. They have to have full full 316 00:26:41.920 --> 00:26:47.039 employment as much as they can and then you know, try to defeat inflation 317 00:26:47.160 --> 00:26:49.960 down to their target around two percent with no help. So they've done the 318 00:26:51.079 --> 00:26:53.240 labor to a te right, it's right there where it needs to be. 319 00:26:53.359 --> 00:26:56.240 Unemployment even though it's ticked up to three point nine and we saw that came 320 00:26:56.240 --> 00:27:00.039 out on Friday, it's still historically low. At the issue gets turned to 321 00:27:00.079 --> 00:27:04.119 inflation, which we continue to see kind of hovering at that three point five 322 00:27:04.160 --> 00:27:07.400 to four point five range, and it doesn't seem to be able to get 323 00:27:07.480 --> 00:27:11.440 much lower than three point five. And so how does the FED even entertain 324 00:27:11.519 --> 00:27:15.960 cutting rates until it gets below that three point five mark or even below three, 325 00:27:17.039 --> 00:27:19.039 right, I mean, it's got to get somewhere near two before they 326 00:27:19.039 --> 00:27:23.799 can even think about cutting rates. It's just that pressure on wages and pressure 327 00:27:23.839 --> 00:27:30.160 on holideen that continue to be bothersome in this whole thing, right, Dal, 328 00:27:30.559 --> 00:27:32.039 Yeah, it is true. I mean, like you're saying, they 329 00:27:32.039 --> 00:27:33.599 still want to do the two percent, so they're getting closer, and the 330 00:27:33.640 --> 00:27:37.039 idea that the employment unemployment was a little higher just got investors happy to begin 331 00:27:37.119 --> 00:27:40.759 with. As we saw this start Friday, but then I mean Friday and 332 00:27:40.839 --> 00:27:45.319 then down so kind of wore off pretty quickly. But I think those are 333 00:27:45.319 --> 00:27:47.559 still putting pressure on. I think they're still I mean, like you said 334 00:27:47.599 --> 00:27:49.680 earlier this week, is that it's not gonna not wavering from the two percent 335 00:27:49.759 --> 00:27:53.000 goal Friday. Friday was an interesting day, wasn't it. Yeah, it 336 00:27:53.039 --> 00:27:57.000 was killing it in the morning. Yeah. Also because unemployment rate came in 337 00:27:57.039 --> 00:28:00.519 higher than expected. Yep, So everybody's okay, cool, they might be. 338 00:28:00.920 --> 00:28:04.559 It gives them hope. That racer when you cut quicker got a goldilocks 339 00:28:04.759 --> 00:28:10.759 employment report from the government, and that gave me goldilocks. Though with unemployed, 340 00:28:10.839 --> 00:28:14.599 I mean we did have jobs created, more goldilocks in that there were 341 00:28:14.599 --> 00:28:18.039 not an extraordinarily high number of jobs created. The unemployment rate ticked up a 342 00:28:18.039 --> 00:28:22.720 little bit, which gives more emphasis towards lower rates. To be fair, 343 00:28:22.799 --> 00:28:26.680 we know goldilocks. We beat expectations pretty significantly, almost double than what economists 344 00:28:26.720 --> 00:28:30.279 were expected on jobs created two hundred versus two seventy five. I saw one 345 00:28:30.359 --> 00:28:33.880 seventy versus one hundred. Okay, the bottom line is a Cramer called to 346 00:28:33.920 --> 00:28:40.799 goldilocks and and I can't but Friday morning a new all time high for the 347 00:28:40.880 --> 00:28:45.400 Nasdaq, the SMP, the Russell, and the SMP equal weighted new all 348 00:28:45.400 --> 00:28:48.359 time high for all four of those indices. And then the four three of 349 00:28:48.400 --> 00:28:52.519 the stocks that have been driving this market for the last six months in Vidio, 350 00:28:53.240 --> 00:28:57.839 Eli, Lilly, and Costco all rolled over. And I mean and 351 00:28:59.039 --> 00:29:03.000 Vidia was believable. And Vidia closed Thursday night at nine to twenty five. 352 00:29:03.200 --> 00:29:07.359 And we're talking about Nvidia because I think it probably is the most important stock 353 00:29:07.440 --> 00:29:10.720 on the market right now. It is they make, They make their driving 354 00:29:10.759 --> 00:29:14.960 AI and the AI was driving the market. Yep. They closed Thursday at 355 00:29:15.000 --> 00:29:18.839 nine to twenty five. They opened Friday morning at nine seventy five and then 356 00:29:18.920 --> 00:29:25.440 dropped one hundred points. That's the first time we've seen that from an Nvidia 357 00:29:25.480 --> 00:29:27.640 in an intra day basis, Yeah, exactly. Usually if it opens up 358 00:29:27.680 --> 00:29:30.920 like that, it ends higher. Yeah, now it has dropped one hundred 359 00:29:30.920 --> 00:29:36.440 points a couple of times before, and each of those times was an opportunity 360 00:29:36.480 --> 00:29:40.200 to get in. Will just be different. Well, I guess we'll find 361 00:29:40.200 --> 00:29:41.880 out later. I mean now it's like people started taking their profit because I 362 00:29:42.160 --> 00:29:45.359 was just taking you know, it's at nine hundred's at eight eighty, we'll 363 00:29:45.440 --> 00:29:47.680 just take some profit. And that's how it kind of drops down. Also, 364 00:29:47.759 --> 00:29:52.440 the algorithm electronic trading and stuff hits two with the stops and all that. 365 00:29:52.519 --> 00:29:55.839 But the interesting part too is that S and P five hundred is now 366 00:29:55.960 --> 00:29:59.680 outpacing the Nasdak. Isn't that something barely? I mean, it's up you're 367 00:29:59.680 --> 00:30:02.279 today, it's up seven point four in the Nazak's up seven point two. 368 00:30:03.039 --> 00:30:06.200 But the Nazak has just been for the last eighteen months, has been by 369 00:30:06.240 --> 00:30:10.440 far the best. Oh because of Nvidiot, because of Meta, because of 370 00:30:10.960 --> 00:30:14.400 Google, No, not now so much Google now, but Amazon, all 371 00:30:14.440 --> 00:30:17.799 those tech stocks have been doing well. And that's why tech has been doing 372 00:30:17.839 --> 00:30:21.200 really well. But yeah, so the market in the sense is doing better 373 00:30:21.240 --> 00:30:23.839 as a whole. As a market participant, you like this, right, 374 00:30:25.200 --> 00:30:29.119 like maybe even the people waight, it is up five percent, So the 375 00:30:29.200 --> 00:30:32.200 rally is clearly widening. Out. Well, what we've been thinking too, 376 00:30:32.279 --> 00:30:34.000 is that the market is going to shift to value, which S and P 377 00:30:34.039 --> 00:30:37.960 five hundred has value. NASDAC doesn't have so much value. So if you're 378 00:30:38.039 --> 00:30:41.799 right, maybe that's what's happening. They taking their profits from the tech companies 379 00:30:41.799 --> 00:30:45.319 put it in more value, feeling more stabilized. It has to happen eventually, 380 00:30:45.799 --> 00:30:49.599 we would think everything we've seen, it doesn't go to the moon like 381 00:30:49.599 --> 00:30:52.640 that. You've been watching the S and P five hundred, just the charts 382 00:30:52.640 --> 00:30:57.319 and drawing technicals on the charts. It really seems like this level is I 383 00:30:57.359 --> 00:31:02.720 mean, getting past fifty two hundred, we almost we touched it earlier today. 384 00:31:02.759 --> 00:31:04.039 I mean, yeah, I don't think we're going higher. I think 385 00:31:04.039 --> 00:31:10.920 we'll be at five thousand next week. That would be This sounds kind of 386 00:31:10.920 --> 00:31:12.960 funny, but that'd be kind of a relief because there is just too much 387 00:31:14.319 --> 00:31:17.559 of froth in the market right now. And having it pulled back to five 388 00:31:17.599 --> 00:31:22.559 thousand or forty nine hundred, closed it fifty one twenty three Friday, having 389 00:31:22.559 --> 00:31:26.720 to pull back you know, five percent, so would be really healthy. 390 00:31:26.839 --> 00:31:30.160 Well, it's also you're thinking, okay, I want to take some profit. 391 00:31:30.559 --> 00:31:32.440 We'll put it, do we want to raise cats? You put in 392 00:31:32.440 --> 00:31:34.440 a money market, you're still getting five percent while you wait, So it's 393 00:31:34.480 --> 00:31:37.200 not really like you're taking in. You're earning nothing if you just put it 394 00:31:37.240 --> 00:31:40.960 in cash right now, So you're taking it. So advisors to take advantage 395 00:31:40.960 --> 00:31:42.519 of that right now, and so are traders and institutions all that stuff. 396 00:31:42.759 --> 00:31:45.720 They're getting money regardless of being in the market, so they're taking the profit 397 00:31:45.759 --> 00:31:49.039 from where they can. We did take five percent off of our managed accounts 398 00:31:49.079 --> 00:31:53.079 this week. We'll cash that in, which I think was probably well, 399 00:31:53.240 --> 00:31:56.759 just a caution earything. Let's hope the market goes all the way from here 400 00:31:56.759 --> 00:32:00.599 to ten thousand in a straight line, right, But from a from a 401 00:32:00.640 --> 00:32:04.559 logical point of view, you've got to say, twenty seven percent rally since 402 00:32:04.640 --> 00:32:07.759 October thirty first, there's got to be a pullback at some point, yeah, 403 00:32:07.799 --> 00:32:12.960 and we want to have cash when that pullback comes. We're patient, 404 00:32:13.240 --> 00:32:15.119 just like we were patient last year. I mean the rally this time last 405 00:32:15.200 --> 00:32:19.119 year, the rallies have started. I mean the bank what was it, 406 00:32:19.039 --> 00:32:22.880 it was Silicon Valley Bank went out last March, yeah, Marcus around last 407 00:32:22.920 --> 00:32:25.759 March, and we're like okay, and then we saw little aprils when it 408 00:32:25.759 --> 00:32:29.519 started to go and started to run, and mainly because of AI and a 409 00:32:29.599 --> 00:32:31.119 video and all that. But we're still patient. We're like, we don't 410 00:32:31.119 --> 00:32:34.160 know if this is going to keep going. Eventually, after a few months 411 00:32:34.160 --> 00:32:37.480 we're like, Okay, we're gonna hop in a little bit, but we're 412 00:32:37.480 --> 00:32:38.960 not going to be the first thing. We're going the first at it's all. 413 00:32:39.079 --> 00:32:42.880 We're gonna be more patient on that side. And you never go broke 414 00:32:42.920 --> 00:32:45.799 taking a profit, right, Yeah, exactly, you can't be mad. 415 00:32:45.880 --> 00:32:47.240 You want to look back and look twice and because then you end up kicking 416 00:32:47.279 --> 00:32:52.680 yourself if you see that the stock that you sold for a fifty percent gain 417 00:32:52.759 --> 00:32:54.640 is now up one hundred just gonna be kicking yourself for no reason. Talking 418 00:32:54.640 --> 00:33:00.880 about inflation and wage pressures. Starting in April, the minimum wage for fast 419 00:33:00.960 --> 00:33:07.160 food workers in California goes to twenty bucks an hour. Yeah, and also 420 00:33:07.200 --> 00:33:12.119 I think you know, California led the way on unemployment on the on the 421 00:33:12.160 --> 00:33:15.799 state side of things. Last said, unbelievable. So your first job while 422 00:33:15.799 --> 00:33:21.119 you're in high school be forty thousand dollars year job. There was California where 423 00:33:21.119 --> 00:33:23.640 did you go from there? There's a California state congress woman that says she 424 00:33:23.680 --> 00:33:27.799 wants to make it fifty dollars an hour minute. Of course, of course, 425 00:33:28.279 --> 00:33:30.480 to be fair, I mean forty thousand dollars in California. It's like, 426 00:33:30.799 --> 00:33:34.559 you know, twenty five thousand here, so you really can't get a 427 00:33:34.559 --> 00:33:36.880 start a job. She wants to make it so it's one hundred thousand dollars 428 00:33:36.880 --> 00:33:39.519 minimum for certain Oh, for goodness sakes, this is like it's is gonna 429 00:33:39.559 --> 00:33:44.720 increase everything, so your starting jobs should be one hundred grand. Huh, 430 00:33:44.839 --> 00:33:46.400 is what she's proposing. I don't know how far it's gone along. I 431 00:33:46.440 --> 00:33:51.640 just saw it, but you can get a very distorted view of reality in 432 00:33:51.680 --> 00:33:55.279 California, you really can. Oil is down two dollars this week to seventy 433 00:33:55.319 --> 00:34:00.680 eight dollars a barrel, continues to be up and down every other week. 434 00:34:00.559 --> 00:34:04.720 Has trended hire though, I've seen. We've seen the gas prices slowly trickle 435 00:34:04.799 --> 00:34:08.239 back up to around three point fifty. About gold, it's been killing it, 436 00:34:08.400 --> 00:34:14.400 unbelievable. And of course gold moves inversely to the dollars when interest rates 437 00:34:14.400 --> 00:34:16.360 start to drift lower like they did this week. The dollar is going to 438 00:34:16.440 --> 00:34:21.639 decline, so the price of gold has to go higher. Up ninety bucks 439 00:34:22.119 --> 00:34:27.119 twenty one seventy eight. That's a new all time high for gold gold has 440 00:34:27.239 --> 00:34:31.079 ever been. You know, I watched the State of the Union and giving 441 00:34:31.119 --> 00:34:37.679 away money to Israel, to the Ukraine, to Gaza, to Taiwan, 442 00:34:37.239 --> 00:34:40.360 the money we don't have. By the way, giving that money away to 443 00:34:40.400 --> 00:34:46.360 all of it struck me that I now know for sure that there is no 444 00:34:46.519 --> 00:34:50.519 life on any other planet, because if there was, we'd be sending the 445 00:34:50.639 --> 00:34:58.960 money. That's on fair point unbelievable. Yeah, it's great at the jobs 446 00:34:59.000 --> 00:35:02.760 of creation, and again real quickly, the healthcare and social assistance was the 447 00:35:02.840 --> 00:35:08.559 number one job creator, Leisure and hospitality number two, number three government. 448 00:35:09.079 --> 00:35:14.239 Government always seems to add jobs every single month. You're getting more and more 449 00:35:14.280 --> 00:35:19.400 government jobs, and again jobs we cannot afford to pay for. So yeah, 450 00:35:19.480 --> 00:35:23.800 what the heck? Right? I mean, yeah, it's ridiculous. 451 00:35:23.840 --> 00:35:27.039 We just keep praying money. And that's why our deck keeps going up in 452 00:35:27.079 --> 00:35:30.360 placing stuff right now too. It's ridiculous, just just an unmanageable level of 453 00:35:30.400 --> 00:35:35.360 death. Bitcoin was the big star of another ten percent. Todd thirty three 454 00:35:35.519 --> 00:35:37.880 percent in the last two weeks. Yeah, you're going to give me more 455 00:35:37.920 --> 00:35:39.880 than fifteen seconds on that, so we'll bring that. Ben back in. 456 00:35:40.000 --> 00:35:43.480 You want to talk more about bitcoin when we come back from the break. 457 00:35:43.639 --> 00:35:45.760 We appreciate your listening to us. This is the Money Matter Show. We 458 00:35:45.800 --> 00:35:51.599 will be back right after this brief break. Welcome back. This is the 459 00:35:51.599 --> 00:35:54.519 Money Matter Show. Todd glick us here with Dylan Greenberg, Dean Greenberg, 460 00:35:54.599 --> 00:35:58.639 Dave Sherwood. Todd, you want to talk about bitcoin a little bit. 461 00:35:58.719 --> 00:36:02.159 It's another all time high and this is exactly when people will start to actually 462 00:36:02.199 --> 00:36:06.679 start to look at bitcoin, which is always funny to me. But just 463 00:36:06.679 --> 00:36:09.960 because it's trending here doesn't mean that the volatility has ended. Bitcoin is a 464 00:36:10.079 --> 00:36:14.320 very volatile as set. You're gonna see it potentially run up to seventy, 465 00:36:14.559 --> 00:36:17.039 it will plumb it back back down to forty, it will plummet, skyrocket 466 00:36:17.119 --> 00:36:20.880 right back to one hundred, and plumb it right back into sixty. Most 467 00:36:20.920 --> 00:36:24.639 bitcoin bull runs have at least six to seven thirty percent drops in them. 468 00:36:24.760 --> 00:36:30.559 Wow, okay, so you will see huge drops and then you'll here all 469 00:36:30.599 --> 00:36:34.119 the commercial all the pundits saying that was the bubble pop, right, even 470 00:36:34.159 --> 00:36:37.320 though they've said it what six five times before that about this bubble that bitcoin 471 00:36:37.400 --> 00:36:42.159 is obviously is not because if it was a bubble, it would have burst 472 00:36:42.320 --> 00:36:46.559 and it wouldn't have blown again. Bubbles don't blow again. Secondly, people 473 00:36:46.639 --> 00:36:52.559 who are wanting to act start outset allocations into bitcoin. You keep it to 474 00:36:52.599 --> 00:36:57.000 three to five percent. This is just as if you're investing into Navidia or 475 00:36:57.039 --> 00:37:00.320 investing into a super micro. It's a very valuatile ass set. You don't 476 00:37:00.320 --> 00:37:02.800 need to have all your eggs in one basket and needs to be a proper 477 00:37:02.840 --> 00:37:07.920 asset allocation, and that can now be easily done with Spot bitcoin ETFs. 478 00:37:08.199 --> 00:37:12.280 Okay, you don't need to have in two separate accounts or whatever you may 479 00:37:12.280 --> 00:37:15.519 be. You can have it in a normal account, but don't make it 480 00:37:15.519 --> 00:37:19.519 more than three or five percent. Still keep the same financial responsibility. If 481 00:37:19.559 --> 00:37:22.360 it goes to one twenty, great, your three percent becomes six percent of 482 00:37:22.360 --> 00:37:23.760 your account. You can sell some off the top, make it back down 483 00:37:23.800 --> 00:37:29.679 the three and it's so easy to trade now with the ETFs, the Spot 484 00:37:29.760 --> 00:37:36.519 atfan it's amazing, Dave, the Spot Bitcoin ETFs, just black Rock and 485 00:37:36.960 --> 00:37:39.800 fidelities. Those two spot bitcoin ets, which are the top two performers right 486 00:37:39.840 --> 00:37:45.400 now. They have bought since they've been opened, more than one percent of 487 00:37:45.480 --> 00:37:51.000 all the bitcoin supply that will ever be produced, and the bitcoin networks, 488 00:37:51.400 --> 00:37:53.000 and we're I mean we've been open for what two months in business, I 489 00:37:53.039 --> 00:37:55.039 guess, no wonder the price is going high, right, right, I 490 00:37:55.079 --> 00:37:58.159 mean, it's just a supply and demand aspect, right, I mean, 491 00:37:58.199 --> 00:38:00.280 if there's just not available, got to pay a high price for it. 492 00:38:00.719 --> 00:38:06.079 So that's the beautiful thing about bitcoin. Looking back on this, and I 493 00:38:06.079 --> 00:38:09.079 think what threw us off is when the ETFs were first approved, the price 494 00:38:09.119 --> 00:38:15.519 of bitcoin dropped pretty precipitously, which made us kind of question our thesis of 495 00:38:15.920 --> 00:38:21.679 the creation of the ETFs causing bitcoin to rally. As you look back on 496 00:38:21.760 --> 00:38:24.840 it, it's just such a duh. Yeah, you know, it's duh. 497 00:38:24.920 --> 00:38:28.840 I mean that FBTC we bought. We didn't buy it right away, 498 00:38:28.880 --> 00:38:30.480 but we bought it roughly. I mean for clients that at different times in 499 00:38:30.480 --> 00:38:34.320 the thirties, it's not like sixty now. Yeah, this has gone straight 500 00:38:34.360 --> 00:38:37.000 up since that drop. Yeah, I mean it obviously it goes with bitcoin. 501 00:38:37.079 --> 00:38:39.760 Bitcoin hit in seventy thousand for the first time ever, and it had 502 00:38:39.760 --> 00:38:44.079 to work. It just that I think that initial drop was so dramatic. 503 00:38:44.239 --> 00:38:45.840 That's why we cared a lot of people out ethereum. If they get the 504 00:38:45.840 --> 00:38:51.280 same type of spot ethereum et you've got to think the same thing. Yeah, 505 00:38:51.280 --> 00:38:53.519 I'm very interested in that because I don't think ethereum will have an easy 506 00:38:53.599 --> 00:38:58.960 road to that approval as much as people think, because it's so controllable and 507 00:38:59.119 --> 00:39:02.119 in a way that Bitcoin isn't. So Classifying ethereum as the security is really 508 00:39:02.159 --> 00:39:06.920 what it comes down to. Whether they're going to sec classify ethereum as a 509 00:39:06.920 --> 00:39:12.039 commodity or security obviously brings a whole different slew of regulation what you have to 510 00:39:12.079 --> 00:39:14.679 do with that. So, because if I'm not mistaken, bitcoin is the 511 00:39:14.719 --> 00:39:19.840 only commodity currency that's classified as a security, as a commodity, as a 512 00:39:19.840 --> 00:39:22.079 commodity, yes, the editors are classified as securities, correct, So they 513 00:39:22.079 --> 00:39:28.239 have and that makes a difference of regulators definitely definite. Right, Oh yes, 514 00:39:28.960 --> 00:39:30.440 I mean you think about prospectuses, right and things like that. That's 515 00:39:30.440 --> 00:39:34.840 what it means. Fascinating stuff. Apple of course is one of the premier 516 00:39:34.920 --> 00:39:39.360 stocks drop to the lowest level since last October on news. If their iPhone 517 00:39:39.400 --> 00:39:45.280 sales get this, we're down a twenty four percent year over year in China. 518 00:39:45.400 --> 00:39:49.719 That's a dramatic decline. It was largely expected, right, I mean, 519 00:39:49.760 --> 00:39:52.360 the Chinese government did come out and says that you can no longer buy 520 00:39:52.400 --> 00:39:55.599 iPhone phones if you're a government employee, Well, you can buy them, 521 00:39:55.599 --> 00:39:59.719 but you just can't use them at work. Okay, but you know what 522 00:40:00.079 --> 00:40:01.519 you would do with your phone. You're gonna bring it to work. You're 523 00:40:01.519 --> 00:40:06.239 not gonna like that. But it's also with their Apple Watchers having struggles with 524 00:40:06.280 --> 00:40:09.440 They had that lawsuit that looks like it went through and they lost with something 525 00:40:09.440 --> 00:40:13.400 about the EKG thing. I think companies suit them. So now they have 526 00:40:13.440 --> 00:40:15.440 to redo their Apple Watches, the newest generation. So there're seven struggles right 527 00:40:15.480 --> 00:40:19.719 now. They've scrapped the Apple car. I mean, they only spent in 528 00:40:19.719 --> 00:40:22.079 the terms of Apple, ten billion dollars isn't too much to them, but 529 00:40:22.239 --> 00:40:24.400 they spent a lot of time with that and now they just scrapped it. 530 00:40:24.480 --> 00:40:28.679 So it's just news with Apple, it's just not been positive lately. But 531 00:40:28.760 --> 00:40:32.280 I mean with Apple, it's buy an opportunity, huge body Google. Google 532 00:40:32.400 --> 00:40:35.960 is buy an opportunity, buying opportunity. They're not gonna let all right, 533 00:40:36.000 --> 00:40:39.920 So they got hammered with that Gemini issue where they're the whole AI was skewed 534 00:40:40.119 --> 00:40:45.199 one way the code. They're not gonna let that continue now. Either whether 535 00:40:45.199 --> 00:40:47.480 they got caught or meant it on purpose or didn't, whatever happened, that's 536 00:40:47.480 --> 00:40:51.960 obviously not going to continue. Otherwise Google is gonna fix it. So it's 537 00:40:51.960 --> 00:40:54.639 a buy an opportunity in my eyes. So AI, of course is all 538 00:40:54.679 --> 00:40:59.000 the rage. Google is one of the top AI companies, but it's down 539 00:40:59.039 --> 00:41:01.239 ten percent in the last few weeks. And Dylan, you think it's because 540 00:41:01.320 --> 00:41:06.400 the stumble on the It's definitely that. Well, it's definitely that's the only 541 00:41:06.440 --> 00:41:08.119 news that came out. Yeah, everything else was going great for him because 542 00:41:08.119 --> 00:41:12.960 there's AI and they're moving towards AI, which come out and say that your 543 00:41:13.199 --> 00:41:15.559 code, your AI code can be skewed. Well, people are just showing 544 00:41:15.599 --> 00:41:20.519 George Washington is black when he's obviously was white. That was the whole issue 545 00:41:20.519 --> 00:41:22.880 going on, and it was multiple times and they're saying, okay, so 546 00:41:22.960 --> 00:41:28.840 as Google using AI to skew to change to do something with history. That's 547 00:41:28.880 --> 00:41:31.280 what they were saying. And obviously people aren't gonna use Gemini now that Google 548 00:41:31.280 --> 00:41:34.280 has to deal with that. Them dealing with that is going to hurt. 549 00:41:34.280 --> 00:41:36.159 People are going to sell the stock, you know. I think AI is 550 00:41:36.239 --> 00:41:40.159 very interesting, but it won't really get the type of capabilities we are looking 551 00:41:40.159 --> 00:41:45.280 for. I don't think start until we unlock the code of quantic computing. 552 00:41:45.440 --> 00:41:49.719 And Google has a huge role in that. They have a whole quantic computing 553 00:41:49.760 --> 00:41:52.320 program and they've been working on it for years and they're in the lead right 554 00:41:52.360 --> 00:41:58.079 now. And I think that's the most underrated thing that's going on in business 555 00:41:58.079 --> 00:42:00.760 development right now. What if they come out with a quantum computer, the 556 00:42:00.800 --> 00:42:06.400 power that they'll have as a business is second to none. And in fifteen 557 00:42:06.440 --> 00:42:09.719 years I can see them completing it. And that's why any type of short 558 00:42:09.800 --> 00:42:15.199 stumble in any other parts of their business is a huge buying opportunity, because 559 00:42:15.199 --> 00:42:17.559 this is something that people don't even know about yet. Our client, Micah, 560 00:42:17.719 --> 00:42:22.880 is a retired engineer and he has been pounding me on quantum computing for 561 00:42:22.920 --> 00:42:28.360 probably two years and it's it's gigantic, Yes, I mean it's drag. 562 00:42:28.519 --> 00:42:32.079 Whoever gets this, whoever figures this out, And I'm not smart enough to 563 00:42:32.079 --> 00:42:37.840 even describe what's going on, but apparently it's a level of computing that's similar 564 00:42:37.880 --> 00:42:44.599 to what AI is to normal. Uh, yeah, it's am I right 565 00:42:44.639 --> 00:42:47.239 down the game changing. Yeah, it's a game changer. Yes, and 566 00:42:47.360 --> 00:42:52.159 every country in the world is trying to be first. It's basically like the 567 00:42:52.360 --> 00:42:54.880 it's like the first country to have a nuke. That's the level of power 568 00:42:55.000 --> 00:42:59.000 it would give you. Yeah, it's like the space Race. Yes, 569 00:42:59.039 --> 00:43:05.199 but I think the thing is even probably even more accurate and more. It 570 00:43:05.199 --> 00:43:07.760 defines really more what's going on. Yeah, it's Pandora's Box for sure. 571 00:43:08.360 --> 00:43:10.880 You know, during the pandemic, we all learned how to use Zoom, 572 00:43:10.920 --> 00:43:15.519 and those shares jumped remember this, to five hundred and eighty eight dollars. 573 00:43:15.559 --> 00:43:19.079 You're talking about that before they plunged the fifty eight bucks. When we all 574 00:43:19.119 --> 00:43:22.599 went back to normal, stock actually rallied ten percent off the low when they 575 00:43:22.639 --> 00:43:27.760 reported a strong fourth quarter. So apparently not everyone has given up on Zoom. 576 00:43:28.159 --> 00:43:30.039 Well, zooms still used. I know it's still popular, But like 577 00:43:30.079 --> 00:43:34.360 we were talking about earlier this week, it's like when you say Zoom. 578 00:43:34.360 --> 00:43:36.559 It's like you're saying Uber. You might order a Lyft, but you're like, 579 00:43:36.559 --> 00:43:37.920 all right, hey, I'm gonna order Yeah, you might drink PEPSI. 580 00:43:38.159 --> 00:43:42.320 I'm gonna order an Uber, but you might have the lift app open. 581 00:43:42.559 --> 00:43:45.719 I'm gonna go on Zoom, which you might use Microsoft Teams. It's 582 00:43:45.760 --> 00:43:49.960 just the idea that that's become the norm for video conferencing. I also don't 583 00:43:50.039 --> 00:43:54.400 understand why Zoom doesn't charge on their free service or at least have ads to 584 00:43:54.440 --> 00:44:00.079 make you use it. There's a huge revenue miss on opportunity there, in 585 00:44:00.119 --> 00:44:02.639 my opinion. Yeah, do they think that people aren't going to use it, 586 00:44:04.039 --> 00:44:06.679 We'll just go to a different site. Like what I mean by this, 587 00:44:07.119 --> 00:44:08.840 Dave, is if you had a log onto Zoom and just create your 588 00:44:08.880 --> 00:44:12.519 meeting. You know, first you had to watch a thirty second or one 589 00:44:12.519 --> 00:44:15.920 minute. That's not going to stop you from using Zoom, right, But 590 00:44:15.000 --> 00:44:19.039 it brings a whole bunch of money to Zoom. So why aren't they doing 591 00:44:19.079 --> 00:44:22.679 that? This is a very very good point. Yeah, a very good 592 00:44:22.719 --> 00:44:27.519 point. We talked to last week about last week, I suggested that beyond 593 00:44:27.559 --> 00:44:30.760 meat. We talked about beyond meat and I beat them up a little bit. 594 00:44:30.840 --> 00:44:35.519 Thought the meatless ship may have sailed when we found out that there's so 595 00:44:35.599 --> 00:44:39.599 much sodium in the meatless meat that it's worse for you than actual beef. 596 00:44:40.519 --> 00:44:47.280 The stock jumped sixty percent last week after reporting better than expected results in announcing 597 00:44:47.400 --> 00:44:52.960 massive cost cuts this year. I don't know. I don't know. I 598 00:44:52.639 --> 00:44:58.519 still I enjoyed it when it first came out. I enjoyed eating the meatless 599 00:44:58.519 --> 00:45:00.920 Hambergs. I'm not a vegan thing like that, but I thought it wasn't 600 00:45:01.000 --> 00:45:06.000 bad tasting. And sometimes when we're out, I'll order a meatless Amberger if 601 00:45:06.000 --> 00:45:09.119 there's one available, just because I feel like I'm like, I'm doing better, 602 00:45:09.360 --> 00:45:13.039 but i'm not. You're not. It's not better, it's not better 603 00:45:13.079 --> 00:45:15.119 for you. I don't know. But isn't that interesting that you just like 604 00:45:15.239 --> 00:45:19.519 you even like think that. Yeah? I still think I said, oh, 605 00:45:19.599 --> 00:45:21.719 oh, you got a meat Oh that's got to be better for me, 606 00:45:21.840 --> 00:45:24.960 when I know that it's not. Isn't that weird? Yeah? It's 607 00:45:25.000 --> 00:45:28.599 just an alternative for people who don't eat meat. It's not like a power 608 00:45:28.760 --> 00:45:32.639 virtue. It's a great vegan alternative. I'man And then meatless pastrami and bacon, 609 00:45:32.679 --> 00:45:37.519 and we talked about it. There's a plethora of things to choose from. 610 00:45:37.960 --> 00:45:40.840 There's restaurants that use nothing. But you know, I just I just 611 00:45:40.920 --> 00:45:45.599 remembered one thing. I'm just go back real quick to pit cooin. Don't 612 00:45:45.880 --> 00:45:50.719 get crazy about these weird all coins, these you know, doche coin and 613 00:45:50.760 --> 00:45:53.360 all these crazy weird ones. You're gonna see them going crazy. They're going 614 00:45:53.400 --> 00:45:57.760 to be up one hundred percent in a day. Doesn't mean that's a great 615 00:45:57.800 --> 00:46:00.199 asset you need to be investing in. Some of these have the weirdest names, 616 00:46:00.280 --> 00:46:05.039 Dave, you could ever think of. Right, it's not something you 617 00:46:05.079 --> 00:46:08.800 should be playing around with. And I strongly discourage anyone who thinks that other 618 00:46:08.880 --> 00:46:13.400 than like the top five, Like, don't really don't try to be looking 619 00:46:13.440 --> 00:46:16.199 for one offs here. If I remember it correctly, If I remember correctly 620 00:46:16.239 --> 00:46:19.719 the dot, that's a good point. I remember correctly. The doje coin 621 00:46:19.840 --> 00:46:22.559 was a joke. It was started as a joke, right, it was 622 00:46:22.800 --> 00:46:27.400 literally kids did Elon Musk was part of it. Yeah, he was like 623 00:46:27.400 --> 00:46:30.000 tweeting about it, and that's why I explained one time he messed. He 624 00:46:30.000 --> 00:46:31.679 helped create it in back in twenty thirteen. Oh he did. I didn't 625 00:46:31.679 --> 00:46:35.880 realize that. I remember he tweeted out the wrong coin, like the name 626 00:46:35.920 --> 00:46:37.960 of a coin, and he said the wrong one. That coin exploded, 627 00:46:38.039 --> 00:46:39.679 and then he tweeted again. He's like, oh, that's a mistake. 628 00:46:39.679 --> 00:46:43.599 It was this coin point in. This one exploded. And it's like, 629 00:46:43.599 --> 00:46:46.800 you have too much power if you haven't signed up for our April second symposium. 630 00:46:47.559 --> 00:46:51.280 You want to do that, We've got to do you want to talk 631 00:46:51.320 --> 00:46:52.119 about that? Well, just a little bit. We got about forty five 632 00:46:52.119 --> 00:46:54.920 seconds. Yeah, I mean, we'll have a Jonathan Sabilia from our state 633 00:46:54.960 --> 00:46:59.519 planning team as well as Joel Johnson from the accounting group, as well as 634 00:46:59.599 --> 00:47:02.199 J. C. Harris from KNST seven ninety. All the team on the 635 00:47:02.199 --> 00:47:05.920 Greenberg Financial Group will be there. We're really going to be there about giving 636 00:47:05.960 --> 00:47:07.159 you a road match to your financial success. We know there's a lot of 637 00:47:07.239 --> 00:47:12.599 risks on the horizon and what could potentially come about with the new sunsetting of 638 00:47:12.639 --> 00:47:15.599 this tax law, with the new president getting in. This is all designed 639 00:47:15.679 --> 00:47:21.000 to getting you prepared and creating the strategies that you need to now to prepare 640 00:47:21.039 --> 00:47:23.679 yourself for what could be happening in about a year or two away, so 641 00:47:23.880 --> 00:47:29.400 outstanding opportunity to zero five four four four nine zero nine. Talking about what's 642 00:47:29.400 --> 00:47:31.239 going on. We'll be back with the Moneymatter Show right up this break. 643 00:47:31.239 --> 00:47:36.119 Thanks again for taking time to listen to us on this Sunday morning. Welcome 644 00:47:36.119 --> 00:47:37.400 back to the Money Matter Show. My name is Todd Lick. I'm here 645 00:47:37.400 --> 00:47:42.280 with Dean Greenberg, Dan Greenberg and David Sherwood for those just joining with us. 646 00:47:42.800 --> 00:47:45.480 This week we had the dal Jones down point nine percent, the SMP 647 00:47:45.679 --> 00:47:49.280 was down point three and the NASDAC led the way down one point two percent. 648 00:47:49.679 --> 00:47:52.480 Russell two thousand was up this week, up point four percent, and 649 00:47:52.559 --> 00:47:54.519 the equal Weight it actually led the way up this week, was up one 650 00:47:54.559 --> 00:47:59.920 percent. Very interesting to see a reversal here. We talked a wild day 651 00:48:00.079 --> 00:48:02.559 about how we think twenty twenty four is going to be the year of value 652 00:48:02.679 --> 00:48:07.960 versus growth. We were wrong the first two months, but so far this 653 00:48:07.039 --> 00:48:10.840 month we're right. The equal weighted up one point seven, the regular s 654 00:48:10.880 --> 00:48:15.440 and P is only up point five. It's closing the gap on the year 655 00:48:15.480 --> 00:48:19.119 today, so potentially we'll see it come to fruition later in the year. 656 00:48:20.320 --> 00:48:22.719 But we finally see a little bit of reversal this week. Yeah, it's 657 00:48:23.000 --> 00:48:27.559 gonna be interesting again. You want to watch Nvidia. That is the key 658 00:48:27.599 --> 00:48:30.199 stock, and it had a rough day on Friday. It'll be interesting to 659 00:48:30.199 --> 00:48:36.000 see if there's any follow through on the downside. It's not an extraordinarily expensive 660 00:48:36.039 --> 00:48:42.840 stock based on treven and the growth, and they are dominating AI. They 661 00:48:42.880 --> 00:48:49.599 are if I looked at it correctly. I think their revenue has quadrupled over 662 00:48:49.639 --> 00:48:54.239 a year and their margin has doubled. It's an amazing company in an amazing 663 00:48:54.320 --> 00:48:59.199 place. And I understand why the stock has gone from one hundred to nine 664 00:48:59.280 --> 00:49:01.840 hundred. I also understand why I'm pulled back by why I think. You 665 00:49:01.880 --> 00:49:04.920 know, that's a good point to bring up, David. Some people might 666 00:49:04.960 --> 00:49:07.679 see a stock that runs up to nine hundreds and thinks it's a bubble or 667 00:49:07.719 --> 00:49:12.719 think it's unsustainable. And this is truly a company that is showing profits that 668 00:49:13.079 --> 00:49:16.559 exemplify what it's supposed to be worth. It's not like maybe a super micro 669 00:49:16.639 --> 00:49:22.039 where you're like kind of you know, grabbing at sticks on where the values 670 00:49:22.079 --> 00:49:24.000 coming from. It's like, you see it, it's right there for everyone 671 00:49:24.000 --> 00:49:28.440 to see how the video is making this money, and it's not like they're 672 00:49:28.440 --> 00:49:30.440 pricing in crazy amounts of growth. I mean, they are obviously pricing and 673 00:49:30.480 --> 00:49:35.920 growth, but it's not unforseeable amounts. Dean and I both had a meeting 674 00:49:36.000 --> 00:49:39.320 in Phoenix Monday and Tuesday, and we took separate cars because we weren't sure 675 00:49:39.320 --> 00:49:42.719 what time we were coming back. I had a couple of things to do. 676 00:49:42.840 --> 00:49:45.880 He had a couple of things to do. Make a long story short, 677 00:49:45.920 --> 00:49:49.039 On Tuesday, as we're pulling out at Phoenix, I called him on 678 00:49:49.039 --> 00:49:51.000 his cellphone. I said, where are you? And he told me where 679 00:49:51.000 --> 00:49:54.559 he was, and he was about five minutes behind me. Coincidentally, on 680 00:49:54.599 --> 00:49:59.480 the way back to Tucson, he had his car, I had my electric 681 00:49:59.559 --> 00:50:01.519 car, and I said, well, you're five minutes behind me, but 682 00:50:01.559 --> 00:50:06.440 you're going to beat me home because I have to stop now. I got 683 00:50:06.559 --> 00:50:09.159 up to Phoenix using fifty percent of the battery, and on the way home 684 00:50:09.159 --> 00:50:13.960 it said I would make it to my house with three percent battery left. 685 00:50:14.000 --> 00:50:17.440 Well, I'm not that guy, right, So fortunately, there's a twenty 686 00:50:17.480 --> 00:50:22.400 eight brand new three fifty chargers in Elloyd right off the freeway, so I 687 00:50:22.440 --> 00:50:25.880 stopped there. For fifteen minutes and was enough to get me home. But 688 00:50:28.000 --> 00:50:30.039 Dean had no problem. He filled up in Tucson, he went up to 689 00:50:30.079 --> 00:50:35.760 Phoenix and back and had a plenty of room to spare. So that's one 690 00:50:35.840 --> 00:50:38.639 of the things you have to think about with his range, and we talk 691 00:50:38.679 --> 00:50:43.480 about that. Rivian was up thirteen percent on Thursday. They announced three new 692 00:50:43.559 --> 00:50:46.119 vehicles, which was a real surprise, one of which is going to be 693 00:50:46.199 --> 00:50:51.079 priced at forty five thousand dollars, which, yeah, it's a smaller version 694 00:50:51.119 --> 00:50:53.559 of its current suv. Yeah, about fifty percent of its current price. 695 00:50:53.800 --> 00:50:58.079 Yeah right. They run eighty to one hundred pound dollars yep, and it's 696 00:50:58.079 --> 00:51:00.800 supposed to have about the three in a miles, yeah price. I want 697 00:51:00.840 --> 00:51:06.280 to talk briefly about charging stations. One of the stocks we have a position, 698 00:51:06.360 --> 00:51:08.960 and not a big position, but is charge Point. Charge Point is 699 00:51:09.000 --> 00:51:14.320 the largest EV charging company in the country, yep. And they've seen their 700 00:51:14.360 --> 00:51:16.639 stock drop by eighty two percent over the last twelve months. And you're going, 701 00:51:17.519 --> 00:51:21.559 how's that possible? Why would that be? I mean, isn't that 702 00:51:22.079 --> 00:51:24.840 really where you want to put some money is in EV chargers? It's going 703 00:51:24.920 --> 00:51:29.920 to be nothing but better right, down five percent at the open on Wednesday 704 00:51:29.920 --> 00:51:34.880 after they were reported yet another disappointing quarter. Problem with charge point is they 705 00:51:34.880 --> 00:51:38.280 have mostly level two chargers, which are only of use when you have several 706 00:51:38.320 --> 00:51:42.800 hours to charge, and hotels have been slow to add them. Dean and 707 00:51:42.880 --> 00:51:47.400 I had two different hotel reservations in Phoenix, and neither of those hotels had 708 00:51:47.639 --> 00:51:54.519 charging stations. You've got to get hotels trying to outdo one another to get 709 00:51:54.599 --> 00:51:58.920 charging stations. If nobody has a charging station, no hotel, there's no 710 00:51:58.920 --> 00:52:00.760 pressure right now, You guys went up to Phoenix for the same meeting, 711 00:52:00.800 --> 00:52:02.800 and you stayed at two different hotels. No, I said, we had 712 00:52:02.840 --> 00:52:07.039 two different reservations, two different hotel tail reservations. We initially had a reservation 713 00:52:07.159 --> 00:52:09.960 downtown. No. No, we say, it's the same hotel, not 714 00:52:10.039 --> 00:52:15.239 the same room. Fortune, but we stay at the same hotel. But 715 00:52:15.320 --> 00:52:17.360 again they have the level two charges. Now ev Go, which is a 716 00:52:17.360 --> 00:52:22.360 competitor to charge Point. Ev ghos stock is down not eighty two percent over 717 00:52:22.360 --> 00:52:25.840 the last twelve months, but fifty six percent over the last twelve months. 718 00:52:27.159 --> 00:52:31.800 It jumped ten percent on Wednesday after reporting twenty twenty three sales nearly tripled. 719 00:52:32.599 --> 00:52:37.119 Okay, so the difference between the two business models is fairly significant. Ev 720 00:52:37.320 --> 00:52:44.280 Go actually keeps ownership of the chargers and makes money off the electricity sales, 721 00:52:45.119 --> 00:52:51.360 whereas charge point sells the charger and then walks away. Now, hotels probably 722 00:52:51.400 --> 00:52:58.199 going to be more interested in allowing ev goal to put in eight, ten, 723 00:52:58.280 --> 00:53:01.559 twelve chargers, right, it doesn't cost them anything, and ive Goo 724 00:53:01.679 --> 00:53:07.159 gets the money off of electricity, doesn't he You go the golf car maker 725 00:53:07.199 --> 00:53:09.639 two? Is that the same company? No? No, oh, that's 726 00:53:09.719 --> 00:53:13.440 easy go Yeah, yeah, yeah, no, it's not. It's not 727 00:53:13.480 --> 00:53:15.159 the same. Yeah, well I know the electrics anyway, that charging business 728 00:53:15.280 --> 00:53:22.000 entrant. Of course, Tesla is building domination in that space, and it's 729 00:53:22.039 --> 00:53:24.559 not, you know, electric charging not free. I stopped in Eloy where 730 00:53:24.559 --> 00:53:29.719 they have twenty eight brand new three fifty chargers, very nice and next to 731 00:53:29.840 --> 00:53:37.440 a really uh pathetic circle k that I charged for fifteen minutes. I went 732 00:53:37.480 --> 00:53:39.719 to the circle k to go to the bathroom in Minnesota, and then they 733 00:53:39.719 --> 00:53:43.840 had some pizza there and I got a piece of pizza, walked outside and 734 00:53:43.840 --> 00:53:45.559 I couldn't even eat it. It was so hard. Anyway, it was 735 00:53:46.519 --> 00:53:50.360 I got that done, but it costs. It costs like twelve bucks for 736 00:53:50.440 --> 00:53:52.599 that fifteen minutes to charge, so it's not free. You know, you're 737 00:53:52.599 --> 00:53:55.679 talking about electric cars and stuff. We're talking when they talk about flying cars, 738 00:53:57.199 --> 00:53:59.559 flying cars. Yeah, for do you get the flying cars? Yeah, 739 00:54:00.119 --> 00:54:02.840 I D that's the company that's taken over Tesla as the world leader in 740 00:54:02.920 --> 00:54:08.280 sells. They're gonna say, let's just sell and let's just sell in America, 741 00:54:08.360 --> 00:54:12.000 let's just sell in Europe. We might get slapped with some tariffs. 742 00:54:12.199 --> 00:54:15.440 We don't care. Yeah. I don't think they're really interested in the US 743 00:54:15.440 --> 00:54:17.360 market because I don't think it's a big market for them. Well, that's 744 00:54:17.360 --> 00:54:22.800 what I'm saying. Dean said that. Dean said that he saw that by 745 00:54:22.880 --> 00:54:24.960 D says they don't care about the tariffs. They're just gonna eat them and 746 00:54:25.440 --> 00:54:29.880 just gonna move into the US market. Right, But do you believe that 747 00:54:29.960 --> 00:54:34.480 there is an appetite in the US for a Chinese electric car? I think 748 00:54:34.679 --> 00:54:37.559 for a lot of people it's a lot cheaper. Dave Kia Hondai. What 749 00:54:37.760 --> 00:54:43.559 nationality makes it? Yeah, yeah, Korea? But people do people care 750 00:54:43.760 --> 00:54:46.760 Korea. We love Korea. It depends on what I'm saying is like the 751 00:54:46.840 --> 00:54:52.559 car run is a reliable Are the far Rights not gonna get the China make 752 00:54:52.639 --> 00:55:00.079 car? Absolutely, you know they're not gonna get stuff for it. China 753 00:55:00.119 --> 00:55:02.639 is our mortal enemy. Yeah, and half our stuffs made in China. 754 00:55:02.639 --> 00:55:07.199 Still, so whether we it's like what do we want to do, like 755 00:55:07.280 --> 00:55:09.639 we're interconnected with them? But yeah, I mean, no, I agree. 756 00:55:09.639 --> 00:55:13.039 I think there is an appetite for especially if it's that much cheaper, 757 00:55:13.119 --> 00:55:15.639 which I don't know, if they're gonna have to raise their prices. And 758 00:55:15.760 --> 00:55:20.039 BYD trades under the symbol by d b y d d f b y d 759 00:55:20.239 --> 00:55:25.840 d F it's yeah, it's on the OTC and anything Chinese. You have 760 00:55:25.880 --> 00:55:30.920 to be careful because there isn't much transparency there. So we're us invested. 761 00:55:30.960 --> 00:55:32.159 We don't really invest in Chinese. Yeah, we're not going to do because 762 00:55:32.199 --> 00:55:35.679 of that. No, but it's just an interesting company, like you know 763 00:55:35.760 --> 00:55:38.360 on this ev space, it's not a company you hear a lot about talking 764 00:55:38.400 --> 00:55:42.039 about and they're the world leading and I mean what it could really do too 765 00:55:42.159 --> 00:55:45.800 is just drive Tesla prices down, especially in the US if they're coming over 766 00:55:45.840 --> 00:55:47.559 here and then people start buying byd Tesla is gonna have to drop there because 767 00:55:47.559 --> 00:55:51.960 there's more competition that's cheaper. Well, and that Tesla did hit a nine 768 00:55:52.000 --> 00:55:55.639 month low last week on news. The news that're sending down was that that 769 00:55:55.679 --> 00:56:04.559 they halted production at their Berlin factory due to a power Outre says, yeah, 770 00:56:04.559 --> 00:56:07.239 they well, they said that, and it wasn't a factory that was 771 00:56:07.360 --> 00:56:12.639 arson. I don't know if it was a a generating station that supplied the 772 00:56:12.679 --> 00:56:17.159 factory that experienced the arsen gotcha, So it wasn't necessarily aimed at Tesla, 773 00:56:17.199 --> 00:56:22.719 but it seemed like a pretty well they had to shut the factory down for 774 00:56:22.760 --> 00:56:27.119 the week. Yeah, Theirlin factory. How much of the Tesla production is 775 00:56:27.119 --> 00:56:30.280 st But you know, you've got a business here with Tesla. You've got 776 00:56:30.280 --> 00:56:34.480 a business where your demand is still there, but it's slowing, no question 777 00:56:34.519 --> 00:56:38.000 about it, and your prices are steadily coming down. How's that a good 778 00:56:38.000 --> 00:56:42.719 place to have money? I don't know. So going back to that flying 779 00:56:42.719 --> 00:56:46.199 car because of Tesla, So it's space expact by Elon Musk and his company. 780 00:56:46.239 --> 00:56:50.360 It's called alef Aeronautics and they're going to start They have twenty eight hundred 781 00:56:50.719 --> 00:56:57.519 and fifty reservations one hundred fifty dollars deposit. They're launching during some time during 782 00:56:57.519 --> 00:57:00.639 twenty twenty five. Then figure out when it's a two door one, Well, 783 00:57:00.639 --> 00:57:01.960 what this is different? Like you've been seeing them around and how they 784 00:57:02.760 --> 00:57:06.159 like the cars open the wings and then they start flying like a plane or 785 00:57:06.239 --> 00:57:08.880 helicopter. The way this is built is that it just lifts off the air, 786 00:57:09.000 --> 00:57:12.599 kind of like the futuristic one you would expect. Sure, you're just 787 00:57:12.679 --> 00:57:15.760 driving along the highway as traffic, you lift the straight up and you fly 788 00:57:15.840 --> 00:57:19.400 over it. And it has because it has four different like engines in each 789 00:57:19.400 --> 00:57:22.159 wheel that turn into propellers and they go up and they move you. I 790 00:57:22.239 --> 00:57:30.039 just I can't imagine that being approved by looks pretty good well getting approved going 791 00:57:30.039 --> 00:57:34.440 for three hundred yeah, it will never be approved. It's they're trying to 792 00:57:34.440 --> 00:57:37.119 have a four door sedance schedule for twenty thirty five, but that one's gonna 793 00:57:37.119 --> 00:57:42.360 cost thirty five grand. What in the world are they thinking? It is 794 00:57:42.519 --> 00:57:45.079 backed by Elon must did I don't know. The man can't get approval for 795 00:57:45.199 --> 00:57:50.440 flying cars in a city. That's never gonna be could flying cars in New 796 00:57:50.519 --> 00:57:52.800 York city. No, get out of here. No, that's how you 797 00:57:52.800 --> 00:57:55.599 get another middle line. So so what there's hearing to say though, is 798 00:57:55.599 --> 00:57:59.320 that it weighs eight hundred fifty pounds, so it qualifies as an ultra light 799 00:57:59.480 --> 00:58:02.559 vehicle, which can go under a legal classfications. Golf carts, well, 800 00:58:02.599 --> 00:58:07.519 good for them. Golf carts don't fly. No, I agree, but 801 00:58:07.559 --> 00:58:09.599 this is where it's going. This is insane. First car I've seen that 802 00:58:09.599 --> 00:58:13.159 looks like you could just pop up and go. The only way I can 803 00:58:13.199 --> 00:58:15.679 even see this possibly getting ever approval is that the only way you can fly 804 00:58:15.800 --> 00:58:20.239 is if it's automated, like an AI is flying it for you, or 805 00:58:20.280 --> 00:58:24.119 outside of a city limits. I don't know. I was watching a video 806 00:58:24.119 --> 00:58:29.599 on Tesla's auto driving and they're driving on the right lane and out of nowhere, 807 00:58:29.639 --> 00:58:32.400 the autopilot just turns into the left land of oncoming traffic and then they 808 00:58:32.440 --> 00:58:35.679 just had to switch it back. But like I was, they're sitting there 809 00:58:35.719 --> 00:58:39.400 watching. It's just my I don't trust it. My Tesla beeps at me 810 00:58:40.280 --> 00:58:44.840 every time I do anything. This auto back into a wall. It was 811 00:58:44.880 --> 00:58:46.880 autopilot. This was autopilot. They're just sitting their hands for I get it. 812 00:58:46.920 --> 00:58:52.159 I get it that that'd be pretty insane if they can get that approval, 813 00:58:52.199 --> 00:58:58.960 because I mean Apple had to change its charging port. I can't tell 814 00:58:59.000 --> 00:59:04.760 you that a number of times of Tesla beeps at me unnecessarily, and yet 815 00:59:04.880 --> 00:59:09.039 when I'm backing into my neighbor's wall, it doesn't say a word too dark 816 00:59:09.079 --> 00:59:12.199 out, Dave. You got to give us some credit, I see to 817 00:59:12.199 --> 00:59:15.239 make their money back somehow. Let's talk a little bit about these weight loss 818 00:59:15.280 --> 00:59:22.000 drugs. It's all over the news Viking Therapeutics, which is a startup biotech 819 00:59:22.000 --> 00:59:27.440 company that specializes in weight loss drugs. They've seen it share move as their 820 00:59:27.480 --> 00:59:30.760 shares moved from two dollars to thirty eight dollars in the last two years, 821 00:59:30.119 --> 00:59:35.400 and then they doubled last week on good news about a clinical trial of their 822 00:59:35.440 --> 00:59:39.360 weight loss candidate, Norvil. Nordisk new all time high on results from their 823 00:59:39.400 --> 00:59:45.880 weight loss Nordice now has a higher market cap than Tesla. I saw that 824 00:59:45.960 --> 00:59:52.960 on Friday. This is so reminiscent of the COVID vaccines. I mean, 825 00:59:52.000 --> 00:59:57.000 all you have to do is say you're working on the GLP one, which 826 00:59:57.079 --> 01:00:00.320 is the molecule, the GLP one weight loss the way your stock goes well, 827 01:00:00.320 --> 01:00:04.920 the same way with AI. No. I get it's a totally different 828 01:00:04.920 --> 01:00:07.000 subject, totally. I'm just saying, here's here's the problem. Here's the 829 01:00:07.039 --> 01:00:12.039 problem with this GLP one deal. And Eli Lelly is big in it, 830 01:00:13.800 --> 01:00:17.159 Nobo, Nordisk, that's hard to say, is in it, Viking is 831 01:00:17.199 --> 01:00:21.760 in it. We've got eight or ten other companies that are working on weight 832 01:00:21.800 --> 01:00:25.159 loss thing. Because it's all the rage. Here's the problem. It costs 833 01:00:25.239 --> 01:00:30.360 a thousand bucks a month, minimum one thousand dollars a month, and it's 834 01:00:30.400 --> 01:00:35.280 not covered by insurance or not covered by most insurance. I should say, 835 01:00:35.599 --> 01:00:42.000 so, is the average overweight person going to spend one thousand dollars a month 836 01:00:42.079 --> 01:00:45.440 or even have an extra thousand dollars a month for this drug? No, 837 01:00:45.519 --> 01:00:49.159 that's expensive. My argument would be, no, there's not. So here's 838 01:00:49.199 --> 01:00:55.320 what's happening. Compounding pharmacies all over the country are knocking off these GLP one. 839 01:00:57.000 --> 01:01:05.320 They're making this substance and sending people this substance with needles. Now that 840 01:01:05.840 --> 01:01:10.559 the ozempic and the goovi and the mozouro, the majarro, the prescription ones 841 01:01:10.719 --> 01:01:15.760 are all self contained like an EpiPen, right, or you just pop it. 842 01:01:15.559 --> 01:01:21.119 These all come with syringes, right, and a little bottle of the 843 01:01:21.159 --> 01:01:24.320 stuff. But guess what, it's three hundred bucks a month. So which 844 01:01:24.360 --> 01:01:28.960 way do you think most people are going to go? And that makes me 845 01:01:29.079 --> 01:01:34.239 concerned. I know that a Lily and Noble have sued half a dozen of 846 01:01:34.280 --> 01:01:38.320 these compound pharmacies to get them to stop producing this substance. But if in 847 01:01:38.360 --> 01:01:45.400 fact this really is a chemical that can cause you to lose twenty thirty forty 848 01:01:45.800 --> 01:01:52.000 pounds and you can get it for three hundred dollars from a compound pharmacy, 849 01:01:52.280 --> 01:01:54.119 there's going to be a lot of people that are willing to take that risk. 850 01:01:54.840 --> 01:01:59.480 I agree, And so I think that that's going to be something that's 851 01:01:59.519 --> 01:02:07.440 going to hold back the big guys from making a fortune on these at least. 852 01:02:07.480 --> 01:02:09.840 It's something that you need to weigh when you look at this. You 853 01:02:09.880 --> 01:02:16.000 know what, Lily is not going to take over the world because very few 854 01:02:16.639 --> 01:02:22.199 No, let me rephrase that, a very small percentage of people can afford 855 01:02:22.679 --> 01:02:27.559 one thousand to fifteen hundred dollars a month for we loss. Yeah, that's 856 01:02:27.599 --> 01:02:30.000 expensive. Would you agree with that? Yeah, for sure, It's like, 857 01:02:30.400 --> 01:02:34.159 I thought that was interesting that this. Yeah. I mean what that 858 01:02:34.199 --> 01:02:37.639 does is bring make Eli Lily, make it cheaper if they want to sell 859 01:02:37.679 --> 01:02:39.559 more, or they just keep theirs as like a premium. That's all it 860 01:02:39.639 --> 01:02:45.119 is. And on on top of that, we're just now starting to hear 861 01:02:45.360 --> 01:02:50.960 some of the problems with it. Any drug has a little poison, right, 862 01:02:51.320 --> 01:02:57.519 that's a pharmacine. Every drug has a little poison. Good. There's 863 01:02:57.519 --> 01:03:00.119 any boys on the COVID vaccine. But we know that, we know that 864 01:03:00.559 --> 01:03:06.519 up front that this GLP one, at the very least a third of the 865 01:03:06.559 --> 01:03:10.199 weight loss comes from muscle and bone, right, which is probably not a 866 01:03:10.199 --> 01:03:14.719 good thing as you get older. So it's just going to be interesting to 867 01:03:14.719 --> 01:03:19.599 watch. I know some people that are on this. I have people in 868 01:03:19.599 --> 01:03:24.480 my world that are on this. I've seen some outstanding results from it. 869 01:03:25.639 --> 01:03:30.119 I think of Kelly Clarkson, the entertainer. You know she has what doesn't 870 01:03:30.199 --> 01:03:37.159 Kill Me makes Me Stronger? Yeah, hashtago zempic. Yeah, but she 871 01:03:36.039 --> 01:03:40.159 she lost she lost forty pounds in two months on diet and exercise. No, 872 01:03:40.280 --> 01:03:45.599 never mind that she's in her mid to late forties and has never been 873 01:03:45.639 --> 01:03:51.239 able to lose weight on diet exercise. Now suddenly she's able to drop thirty 874 01:03:51.320 --> 01:03:54.599 or forty pounds in two months. If you can't drop forty pounds with millions 875 01:03:54.599 --> 01:03:58.400 of dollars, I mean, come on, but no, you still have 876 01:03:58.440 --> 01:04:00.760 to do the work right now, you early, Now you don't. Now 877 01:04:00.800 --> 01:04:02.880 you just have to have the money pay for it. That's it. Now 878 01:04:02.920 --> 01:04:06.599 you can absolutely drugs, but they should. No, No, it's not. 879 01:04:06.760 --> 01:04:10.440 I know I didn't do those. So that's one of those things that 880 01:04:10.480 --> 01:04:13.119 if you are doing, you need to keep it a secret, right Apparently 881 01:04:13.159 --> 01:04:15.840 if you're famous speaking of that? Are not that? Just changing subjects? 882 01:04:16.199 --> 01:04:21.280 Supreme Court ruled that college states like Colorado cannot ban Trump from being on the 883 01:04:21.280 --> 01:04:27.079 primary vote ballot because it's not a state issue. That's even a bigger duh 884 01:04:26.840 --> 01:04:30.000 than than the bitcoin, is it? I mean, how does states decide 885 01:04:30.000 --> 01:04:32.199 who's on the ballot? And that's what they said, That's what the Supreme 886 01:04:32.199 --> 01:04:35.119 Court said, Like they just they can't do that. You know, Texas 887 01:04:35.159 --> 01:04:39.320 decides there's no no Democrats on the ballot. No, they can only they 888 01:04:39.320 --> 01:04:42.280 can only decide. They can only decide who votes on the ballot, which 889 01:04:42.320 --> 01:04:45.039 is to me equally stupid. But I know you have a different opinion on 890 01:04:45.079 --> 01:04:51.000 primaries, but yeah, yeah, it's it's it's that you can do it, 891 01:04:51.039 --> 01:04:54.719 like you say, it's a state election. They can ban them because 892 01:04:54.719 --> 01:04:57.920 it's the same idea. I don't think anybody you know. It was an 893 01:04:57.960 --> 01:05:00.760 unanimous decision, which is how dud which way? Yeah, and it was 894 01:05:00.760 --> 01:05:02.639 a quick decisions unanimous, and it makes it I mean, that's it should 895 01:05:02.639 --> 01:05:04.639 be that way. Yeah, you can't do that, then you're not the 896 01:05:04.719 --> 01:05:09.000 United States. Yeah, one Roque state doing whatever they want, and that's 897 01:05:09.000 --> 01:05:12.280 just just a trickle down effect for chaos. And when I first started, 898 01:05:12.320 --> 01:05:14.239 we all kind of said, they you can't do that. Come on. 899 01:05:14.559 --> 01:05:16.920 Have you ever heard of the savers credit? The savers credit? Yeah, 900 01:05:17.000 --> 01:05:19.320 yeah, and I can't remember what it is though. So the Saver's Credit 901 01:05:19.360 --> 01:05:23.719 is a tax credit that rewards retirement savings, and a lot of people don't 902 01:05:23.719 --> 01:05:27.119 know about it because most people you have to be under a certain income threshold, 903 01:05:27.159 --> 01:05:30.519 and if you're under a certain income threshold, you're normally not educated on 904 01:05:30.599 --> 01:05:34.119 the type of return saving it anyway, probably not, but for those who 905 01:05:34.199 --> 01:05:38.719 don't know what it is, if you are single and you're not making more 906 01:05:38.760 --> 01:05:42.280 than twenty one thousand, seven hundred and fifty for twenty twenty three. That 907 01:05:42.400 --> 01:05:46.840 means any of your contribution that you put into a four one kriira, the 908 01:05:46.840 --> 01:05:50.400 government will give you fifty percent of that contribution back in the form of a 909 01:05:50.440 --> 01:05:55.079 credit. Okay, if you make from twenty one thousand to twenty three you 910 01:05:55.119 --> 01:05:58.079 get twenty percent of your contribution back. If you make twenty three thousand up 911 01:05:58.119 --> 01:06:00.920 to thirty six thousand, five hundred you get ten percent of your contribution back. 912 01:06:01.039 --> 01:06:03.159 You're making twenty one thousand dollars a year, you need to go to 913 01:06:03.159 --> 01:06:08.039 California and to get on with McDonald's, So you make obviously, obviously, 914 01:06:08.599 --> 01:06:11.480 and that's the point. Obviously, if you're making more than thirty six five 915 01:06:11.559 --> 01:06:15.519 hundred single, or if you're making more than seventy three thousand joint, this 916 01:06:15.599 --> 01:06:18.360 doesn't apply to you. But for those who aren't, and we do meet 917 01:06:18.400 --> 01:06:21.239 with quite a few people who are under those levels, they don't know that 918 01:06:21.280 --> 01:06:26.320 they could be getting money back from the government. And sometimes it's just as 919 01:06:26.360 --> 01:06:30.400 simple as using a TurboTax that tells you about those type of things. But 920 01:06:30.480 --> 01:06:33.639 if you use a old score prepare he might not be putting that credit into 921 01:06:33.639 --> 01:06:35.960 you, So you're just making sure you're aware of those type of things. 922 01:06:36.000 --> 01:06:40.599 But the reason I'm bringing this up is in twenty twenty seven, this is 923 01:06:40.639 --> 01:06:44.719 part of the Secure Act two point zero law that was passed last year. 924 01:06:44.960 --> 01:06:49.440 Nearly twenty two million Americans could qualify for a new government matching contribution designed to 925 01:06:49.480 --> 01:06:54.760 boost retirement savings when the program takes effect. In twenty twenty seven, the 926 01:06:54.880 --> 01:06:59.360 provision in the two point zero Secure Act was signed into law, and it 927 01:06:59.400 --> 01:07:02.480 converts this savers credit. So what I just mentioned, instead of it being 928 01:07:02.519 --> 01:07:06.519 a tax credit, they would turn it into a match a change intended to 929 01:07:06.599 --> 01:07:12.840 encourage more lower income Americans to take advantage of the available government contribution. Because 930 01:07:13.159 --> 01:07:17.199 the people oftentimes at that income level have so much deductions they can't even use 931 01:07:17.239 --> 01:07:23.000 their credit because there are taxes, they don't have a big enough taxable income. 932 01:07:24.119 --> 01:07:27.440 This is a way to help actually make sure that those people at least 933 01:07:27.480 --> 01:07:30.039 get that money in some form or fashion. So I'm actually, you know, 934 01:07:30.280 --> 01:07:33.760 it sounds really cool to me. Even people with traditional iras or roth 935 01:07:33.800 --> 01:07:38.400 iras would be eligible for this government match So the same way that your employer 936 01:07:38.440 --> 01:07:42.079 matches your FOURUM on k. You'll have a third one that's the government match, 937 01:07:42.559 --> 01:07:46.320 and they will directly contribute into your FOURU one K or irase for doing 938 01:07:46.679 --> 01:07:50.559 what you should be doing anyways, sounds good. Bank of American analysts of 939 01:07:50.679 --> 01:07:59.079 Beta sub romanian I said this goes back to Dean in a monologue talked about 940 01:07:59.079 --> 01:08:02.880 the market being over and things of that nature and concerned about drops this. 941 01:08:03.000 --> 01:08:09.119 Analyst from Bank of America said, pension plans have the lowest allocations to equities 942 01:08:09.480 --> 01:08:13.760 that they have had in over twenty years, which I found interesting. Lowest 943 01:08:13.800 --> 01:08:16.680 allocation to equities over twenty years. That may be because fixed income is so 944 01:08:16.720 --> 01:08:23.520 attractive to conservative investors. Yeah, when you're dealing with the pension and stuff 945 01:08:23.520 --> 01:08:26.640 you want to you can be on the safe side. You can right now, 946 01:08:26.720 --> 01:08:29.359 you can. You're not trying to reach for just the five percent return. 947 01:08:29.439 --> 01:08:30.560 You can get that on the safe side, right So, I think 948 01:08:30.600 --> 01:08:34.760 that may be why she argues that the S and P five hundred is not 949 01:08:34.920 --> 01:08:41.039 overvalued because so much of the economy now is tech oriented, which of course 950 01:08:41.079 --> 01:08:45.960 has the high growth rate as opposed to in the past where it's been mostly 951 01:08:45.000 --> 01:08:48.359 industrial. Yeah, but does this make it? Does it like you were 952 01:08:48.359 --> 01:08:53.279 obviously here during the tech bubble, you know one, does this feel anything 953 01:08:53.319 --> 01:08:56.800 similar? No? Okay, no the tech bubble. That'd big problem with 954 01:08:56.800 --> 01:09:00.199 the tech bubble, and no one is there was no substance to it. 955 01:09:00.239 --> 01:09:04.199 And if you if you back test this current rally onto the one bubble, 956 01:09:04.880 --> 01:09:08.199 we're not even close to the peak of it. It was. It was 957 01:09:08.239 --> 01:09:11.680 amazing. I mean, we're still we would have to be up another like 958 01:09:11.720 --> 01:09:15.640 eighty percent. We would want we would want to get every IPO that came 959 01:09:15.680 --> 01:09:19.960 out because every single IPO was guaranteed to jump away fifty like we said them 960 01:09:19.960 --> 01:09:23.720 before. That's more like the spack craze two years ago, and that's why 961 01:09:23.720 --> 01:09:30.079 we tanked right after that. Speaking of thirteen that year, the value discount 962 01:09:30.119 --> 01:09:34.680 is continuously increasing. Value is extremely cheap. We're approaching levels we haven't seen 963 01:09:34.720 --> 01:09:40.039 since the pandemic in twenty twenties. So the only other time it was this 964 01:09:40.159 --> 01:09:44.359 low was back in the early nineties. And again was that I mean the 965 01:09:44.479 --> 01:09:47.039 late nineties that coincided with the one bubble. So going back to that, 966 01:09:47.079 --> 01:09:50.560 do you think though, maybe value right now is struggling because people just get 967 01:09:50.600 --> 01:09:55.359 out of growth and skip over value, go straight to fixed income because they're 968 01:09:55.359 --> 01:10:00.600 getting about the same return. It's possible, for sure it would check out. 969 01:10:00.800 --> 01:10:04.960 But when you have an equity side of allocations, it's if it's sixty 970 01:10:05.000 --> 01:10:11.680 percent, it's sixty percent, right. You're not changing just because fixed incomes 971 01:10:11.680 --> 01:10:15.199 paying more. You're not going to change to a fifty to fifty. You 972 01:10:15.239 --> 01:10:16.960 know, you're still going to be that sixty. So that allocation that we're 973 01:10:17.000 --> 01:10:21.319 going into right now has been predominantly growth, right, And so how do 974 01:10:21.479 --> 01:10:25.720 That's a good point you have to like, eventually money managers are going to, 975 01:10:25.800 --> 01:10:30.760 you know, change that change that portion of the portfolio from a growth 976 01:10:30.800 --> 01:10:33.560 oriented to maybe a more value oriented And that's gonna be that's gonna have to 977 01:10:33.600 --> 01:10:36.520 be forced, and we just haven't seen it. You still want the equity 978 01:10:36.520 --> 01:10:41.560 exposure, Hey Hamton Hers you probably see the ads on TV online and Health 979 01:10:41.560 --> 01:10:45.640 Treatment Company had its best day since becoming a public company last week. It 980 01:10:45.760 --> 01:10:50.359 jumped thirty one percent after reporting a strong quarter with strong guidance. I think 981 01:10:50.399 --> 01:10:55.319 the thing that I take away from this is this is a spack. This 982 01:10:55.399 --> 01:11:00.720 is actually a special purpose acquisition company. H is how they became public, 983 01:11:00.079 --> 01:11:06.039 and SPACs have for the most part turned to doggie do almost without exception. 984 01:11:08.039 --> 01:11:15.479 Here's an exception. This may be one of the few SPACs ever to work 985 01:11:15.800 --> 01:11:19.880 well. I mean they're working with it's like male stuff going on, and 986 01:11:19.880 --> 01:11:25.239 then female stuff and then hair loss. They got all those A lot of 987 01:11:25.239 --> 01:11:28.399 hot areas, right, A lot of a lot of big areas. Yeah, 988 01:11:28.760 --> 01:11:30.039 ed and hair loss, those two of the bigges. And what they're 989 01:11:30.039 --> 01:11:34.119 trying to do with that, Holy Like you read about what their whole philosophy 990 01:11:34.199 --> 01:11:38.520 is like, don't I think it's a bad thing. Blah blah blah. 991 01:11:38.520 --> 01:11:42.439 We'll just we're here to help you. And that's their whole spiel. It 992 01:11:42.479 --> 01:11:45.000 was amazing. We'll be coming up on a break here once again. Make 993 01:11:45.039 --> 01:11:47.800 a note of our April second symposium. If you have not gotten on board, 994 01:11:48.079 --> 01:11:51.359 that's going to be a really cool day with a lot of really interesting 995 01:11:51.399 --> 01:11:55.119 speakers. You're going to take a lot away from it. I can almost 996 01:11:55.119 --> 01:11:58.880 promise that we'll be back right after this break. This is The Money Matter 997 01:11:58.960 --> 01:12:01.039 Show. Welcome back. You're listening to The Money Matter Show. We're in 998 01:12:01.079 --> 01:12:04.560 the second hour of a great episode. I'm here with Todd Glick, Dave 999 01:12:04.600 --> 01:12:08.359 Sherwood, Dan Greenberg will be back in a second, and I'm Dylan Greenberg. 1000 01:12:08.640 --> 01:12:11.199 And what Dave said on the way out of last segment was talking about 1001 01:12:11.199 --> 01:12:15.279 April second, we are holding a syposium with We're gonna have our firm there. 1002 01:12:15.520 --> 01:12:17.800 We're gonna have Jonathan Sabilia of Edward law Ferm, We're have the Johnson 1003 01:12:17.800 --> 01:12:20.479 Brothers, a Johnson Tax Lab Group, and we're gonna have James T. 1004 01:12:20.560 --> 01:12:25.199 Harris, the new morning drive host for kN S T seven ninety And what 1005 01:12:25.239 --> 01:12:29.199 we're gonna be talking about is from twelve to three to lunch hour lunch symposium 1006 01:12:29.199 --> 01:12:33.960 over at Lapeloma Country Club up on Sunrise. Lunch is included show up and 1007 01:12:34.039 --> 01:12:36.960 it's just we're gonna have a panel. We're gonna be talking about the political 1008 01:12:38.000 --> 01:12:41.640 atmosphere coming into the election. We're gonna be talking about the market outlook, 1009 01:12:41.680 --> 01:12:45.520 how to mitigate risk, how to mitigate risks through estate planning with Jonathan, 1010 01:12:45.560 --> 01:12:47.800 how to mitigate risk through taxes with the Johnson Group, and then how to 1011 01:12:47.800 --> 01:12:53.239 mitigate risks through the equity markets with us in the fixed income side. And 1012 01:12:53.239 --> 01:12:55.720 then James T. Harris is gonna be talking. We're gonna be introduced to 1013 01:12:55.760 --> 01:12:58.720 him, see how the new everything about him, and learn more about him 1014 01:12:58.720 --> 01:13:01.279 and everything because obviously Garrett Leeu was here for a long time and now we're 1015 01:13:01.560 --> 01:13:03.880 moving to James t Err so we want to get to know him a little 1016 01:13:03.920 --> 01:13:08.760 better. It's gonna be a great, very informative symposium. So if you're 1017 01:13:08.760 --> 01:13:12.159 interested, feel free you can either go to our website at Greenberg Financial dot 1018 01:13:12.159 --> 01:13:15.079 com or give us a call at five two zero five four four four nine 1019 01:13:15.159 --> 01:13:18.279 zero nine. We'd be happy to sign you up on our event bright page. 1020 01:13:18.680 --> 01:13:21.960 It's a lot of fun now. A lot of opportunities like this come 1021 01:13:23.039 --> 01:13:27.119 along in a year and two son Arizona, and this is a really, 1022 01:13:27.159 --> 01:13:32.600 i think, beyond us trying to drum up some new business, if you 1023 01:13:32.640 --> 01:13:38.119 will, this is really an educational seminar where you're gonna get a lot of 1024 01:13:38.159 --> 01:13:41.199 good information. You're gonna be able to meet some people that you hear on 1025 01:13:41.279 --> 01:13:45.239 the radio all the time or see on TV. Well. In what we 1026 01:13:45.359 --> 01:13:47.479 do at Greenberg Financial and Genda, like in a day to day basis that 1027 01:13:47.520 --> 01:13:50.479 we try to work with, we try and build the whole one stop shop 1028 01:13:50.520 --> 01:13:55.319 idea where it's got us as the investment side. You got Jonathan Sabilly as 1029 01:13:55.319 --> 01:13:58.560 a state planning side, and then you got now the Johnson brothers with the 1030 01:13:58.560 --> 01:14:00.600 tax side, and we try group it all together so you don't have to 1031 01:14:00.600 --> 01:14:04.079 go to all these different places and everything like that. But now what this 1032 01:14:04.199 --> 01:14:06.800 allows is that you get everybody in one place to ask them questions. It 1033 01:14:06.800 --> 01:14:09.840 will be a panel, probably about an hour. I think the last hour 1034 01:14:09.880 --> 01:14:13.680 is gonna be a whole panel just asking whatever questions you have. I remember 1035 01:14:13.760 --> 01:14:17.840 that it was last week I was on the phone with the Johnson Group putting 1036 01:14:17.880 --> 01:14:21.600 together a couple of ten ninety nine's for a client that had gone to them 1037 01:14:21.640 --> 01:14:27.319 to have their taxes done and couldn't produce their ten ninety nine And at the 1038 01:14:27.359 --> 01:14:30.720 same time I was, Jonathan was telling me in the other ear that he 1039 01:14:30.800 --> 01:14:34.880 had finished a small estate affidavit for a client that we had who needed that 1040 01:14:35.039 --> 01:14:41.239 for someone who had passed away. Well, this year we have more democratic 1041 01:14:41.279 --> 01:14:44.479 elections throughout the world than we've ever had in the history of the globe. 1042 01:14:44.560 --> 01:14:49.000 Really, yes, so there is going include Russia, It includes democratic governments, 1043 01:14:49.039 --> 01:14:54.000 So take it for whatever you want it to be. But one, 1044 01:14:54.439 --> 01:14:57.600 Yeah, so it's a year full of changes, right, and so how 1045 01:14:57.640 --> 01:15:00.439 do you get it prepare for changes? Well, you got a know what's 1046 01:15:00.479 --> 01:15:02.960 potentially going to be changed, and that's what we're gonna be telling you about 1047 01:15:02.960 --> 01:15:08.079 this event. So it's a very crucial one for anyone who really cares about 1048 01:15:08.079 --> 01:15:11.920 their financial plan, who wants to actually know how to be most efficient and 1049 01:15:12.039 --> 01:15:15.279 how to have the the maximum strategy to get them to where they want to 1050 01:15:15.319 --> 01:15:17.680 go. So again five to zero five four four four nine zero nine or 1051 01:15:17.760 --> 01:15:21.199 go to Greenberg Financial dot com. I also wanted to shout out another event, 1052 01:15:23.000 --> 01:15:28.359 the Jewish Museum and Holocaust Center that I serve on. They have a 1053 01:15:29.520 --> 01:15:33.319 gala events a Masquerrete ball on March twenty third. It's almost sold out, 1054 01:15:33.359 --> 01:15:36.680 so if you are interested, go to the two Sun Jewish Museum a Holocaust 1055 01:15:36.680 --> 01:15:40.239 Center web page and you can sign up there. It's going to be a 1056 01:15:40.279 --> 01:15:44.199 fun event. And I care a lot about that organization and really care about 1057 01:15:44.199 --> 01:15:46.479 what they do for the community. Thanks for what you do. ID appreciate 1058 01:15:46.520 --> 01:15:50.479 that Victoria's Secret's already down twenty five percent over the last twelve months, dropped 1059 01:15:50.520 --> 01:15:55.960 another twenty five percent at the open on Thursday, disappointing guidance for the quarter 1060 01:15:56.720 --> 01:16:02.439 and for the whole year. A couple of Friday morning we had reactions from 1061 01:16:02.479 --> 01:16:06.520 a couple of earnage reports. Costco had hit a new all time high every 1062 01:16:06.560 --> 01:16:11.399 day for about a month, up sixty five percent in the last twelve months, 1063 01:16:11.479 --> 01:16:14.399 but it was trading at a pe of over fifty. This is a 1064 01:16:14.439 --> 01:16:19.560 retailer people, not surprising the stock drop seven percent on Friday. They reported 1065 01:16:19.720 --> 01:16:25.520 a good quarter, but not a great quarter. Same thing for Broadcom. 1066 01:16:26.079 --> 01:16:30.479 Broad COM's involved in AI, same as Costco, up one hundred and thirty 1067 01:16:30.520 --> 01:16:34.600 percent in the last twelve months. Quarterly report good, not great, down 1068 01:16:34.680 --> 01:16:40.199 four percent. So the expectations right now are getting very, very high. 1069 01:16:40.560 --> 01:16:43.800 Yeah, you know, I saw an interesting chart this week where it showed 1070 01:16:44.079 --> 01:16:47.079 US households are now paying roughly as much interest on other kinds of debts like 1071 01:16:47.119 --> 01:16:51.479 credit cards and student loans as they are for their mortgages, which I think, 1072 01:16:51.560 --> 01:16:56.880 you know, shows that people aren't spending as much on mortgages because a 1073 01:16:56.880 --> 01:16:59.680 lot of them have the old school ones that will now we call old school 1074 01:16:59.720 --> 01:17:01.439 the two years ago that have you know, the two to three percents, 1075 01:17:01.920 --> 01:17:05.279 but the credit card rates. They're not fixed in, so they're going to 1076 01:17:05.439 --> 01:17:10.720 you know, increase a lot. This is the first time in history that 1077 01:17:11.199 --> 01:17:15.840 for US household interest payments on credit card debts and student loans equal mortgage debt 1078 01:17:15.960 --> 01:17:18.840 payments. It's Dean called it a house of cards. I would would not 1079 01:17:19.279 --> 01:17:23.079 call it a house of card, but it certainly is something to be concerned 1080 01:17:23.119 --> 01:17:29.279 about. A lot of debt is mounting. I think in February the layoffs 1081 01:17:29.319 --> 01:17:32.960 for the highest in two thousand and nine, higher than in twenty twenty. 1082 01:17:33.159 --> 01:17:36.640 That's what they said, which is very surprising to meet Zoo. You know, 1083 01:17:36.840 --> 01:17:41.439 I guess it's how you classify layoffs between furlough and you know, if 1084 01:17:41.479 --> 01:17:44.199 you if you fur load them, that's not technically a layoff. So you 1085 01:17:44.239 --> 01:17:46.800 know, you're saying that because in twenty twenty there was certainly more jobs that 1086 01:17:46.840 --> 01:17:50.479 were lost. It's just that I wonder if they were laid off, right, 1087 01:17:50.560 --> 01:17:54.680 That's what I'm saying they were like, because furlough doesn't mean that they 1088 01:17:54.680 --> 01:17:56.640 were laid off. It's just means that we want to get them back in 1089 01:17:56.680 --> 01:18:00.239 a few a couple months. We didn't lay them off. We just the 1090 01:18:00.279 --> 01:18:02.079 store. So don't come in because the stor's closed and there won't be any 1091 01:18:02.119 --> 01:18:08.079 customers right because the store's closed. You look back on that and you wonder 1092 01:18:08.119 --> 01:18:10.399 how we got through that. We always have a problem with the way they 1093 01:18:10.399 --> 01:18:13.319 handled that. It's closing all the mom pop shops, saying you can't do 1094 01:18:13.359 --> 01:18:15.720 this, you got to be home for the safety, and then opening you 1095 01:18:15.720 --> 01:18:19.279 can only have the mass companies opened, Amazon, A, Walmart, all 1096 01:18:19.319 --> 01:18:24.439 those companies to stay open, and then you reopen these everybody to reopen the 1097 01:18:24.439 --> 01:18:28.319 world. And now everybody's mad at those companies were making so much money when 1098 01:18:28.319 --> 01:18:30.199 in the reality, the governments shut down all these mom pop shops that went 1099 01:18:30.239 --> 01:18:33.720 out of business because they can't afford to go out, like they can't afford 1100 01:18:33.760 --> 01:18:36.600 to shut down. But then they're all mad at Amazon for making so much 1101 01:18:36.600 --> 01:18:44.079 money the same and most of they created that whole thing. It's just ridiculous 1102 01:18:44.079 --> 01:18:45.479 to me. I never won't get over that for a while. But most 1103 01:18:45.760 --> 01:18:48.680 of them, most of the major brokerage firms were closed for a year. 1104 01:18:49.760 --> 01:18:53.560 If you wanted to talk to your guy, he was at home, you're 1105 01:18:53.600 --> 01:18:57.079 gonna do it on or your gal they were at home, they weren't they 1106 01:18:57.079 --> 01:19:00.079 weren't open. We never we were never closed for one single day. But 1107 01:19:00.159 --> 01:19:05.680 we have a nice space here and we were respectful of one another and there 1108 01:19:05.680 --> 01:19:10.640 was no need to close. But no one came in right March and April 1109 01:19:10.640 --> 01:19:13.960 of twenty twenty and May it started to trickle in jeing a little bit more 1110 01:19:14.000 --> 01:19:16.920 and eventually we got back to normal. But many of the major brokeras turns 1111 01:19:17.119 --> 01:19:21.680 were closed for an entire year. Yep. So we're able to be different. 1112 01:19:21.720 --> 01:19:27.960 But Target starting a subscription similar to Amazon Prime. They're gonna start it 1113 01:19:28.039 --> 01:19:30.479 next month. It's gonna include stuff like same day delivery for over I think 1114 01:19:30.479 --> 01:19:34.159 it was thirty five dollars stuff like that. It's a paid membership that if 1115 01:19:34.199 --> 01:19:36.680 you sign up during their promotion period for the next couple of months, it's 1116 01:19:36.680 --> 01:19:40.520 forty nine dollars a year. After that it's about one hundred dollars a year, 1117 01:19:41.119 --> 01:19:44.960 and it's in you get discounts, and then they are bringing back their 1118 01:19:44.960 --> 01:19:48.279 Circle Card, their Target Card where you get five percent off and stuff like 1119 01:19:48.279 --> 01:19:53.399 that. So it's similar to Amazon Prime of how it's like the whole subscription 1120 01:19:53.439 --> 01:19:58.000 thing and they're trying to boost sales. Well, Walmart tried to do that, 1121 01:19:58.039 --> 01:20:00.359 and it's just kind of been a big you know, yawn. Oh, 1122 01:20:00.439 --> 01:20:05.479 it's working for them, for Target, for Walmart. Walmart Plus CEO 1123 01:20:05.640 --> 01:20:10.760 was saying that the members spending it twice as much as non members, Right, 1124 01:20:10.840 --> 01:20:15.279 but I don't when's the last time you order something from Amazon? I'm 1125 01:20:15.279 --> 01:20:17.000 not a Walmart Plus member. Now, when's the last time you order something 1126 01:20:17.000 --> 01:20:21.159 from Amazon? This morning? Okay? How about you Todd two days ago? 1127 01:20:21.520 --> 01:20:27.560 Yeah? Me yesterday? And how about Walmart Plus? Dylan m a 1128 01:20:27.600 --> 01:20:30.279 member, So I'll do it. I don't order it from Walmart Me neither. 1129 01:20:30.359 --> 01:20:34.199 Now what I'm talking about. What I'm saying is Walmart CEO says doing 1130 01:20:34.239 --> 01:20:39.399 well compared to this. Obviously Amazon's the king of it. But people like 1131 01:20:39.479 --> 01:20:42.600 Target and if they get a little discount of targets, Target's known to be 1132 01:20:42.640 --> 01:20:45.119 a little more expensive, so if they get a little discount, they might 1133 01:20:45.159 --> 01:20:46.560 go more. Now, give Dean credit. He was talking about Target when 1134 01:20:46.560 --> 01:20:49.359 it when it was down in the one ten, one to fifteen area after 1135 01:20:49.399 --> 01:20:53.800 the boycott, they dropped to one oh two. I mean miss that. 1136 01:20:54.199 --> 01:20:59.760 I midst that boycott talk and hit a new fifty two week high last week. 1137 01:21:00.000 --> 01:21:02.159 One hundred and seventy five dollars. That was October. It was one 1138 01:21:02.239 --> 01:21:06.680 hundred and two hit one hundred and seventy five dollars last week. The results 1139 01:21:06.720 --> 01:21:12.720 and outlook were both of love expectations on the back of numerous brokerage upgrades. 1140 01:21:13.159 --> 01:21:18.680 Seventy five percent return on target in four months. Well it's after a fifty 1141 01:21:18.680 --> 01:21:23.079 percent drop, so yeah, that's made Well, you didn't want to be 1142 01:21:23.119 --> 01:21:26.199 out before the fifty percent drop, right, you know what? You know 1143 01:21:26.199 --> 01:21:28.520 which one hasn't come back after? The boy? Kayete is Anne has a 1144 01:21:28.520 --> 01:21:31.680 bush? How far back had it come? It's a sixty two dollars? 1145 01:21:31.960 --> 01:21:35.000 Okay? And they got down there what fifty dropped to about forty five? 1146 01:21:36.239 --> 01:21:41.199 Prett damn good. That's the one Bill Gates bought a ton of when it 1147 01:21:41.239 --> 01:21:44.439 was down at yep, the high forties. Yeah, it's come back a 1148 01:21:44.479 --> 01:21:47.640 little bit, but it's still way off of its twenty sixteen high of one 1149 01:21:47.680 --> 01:21:49.680 hundred and thirty one dollars. Right, but if you bought at forty and 1150 01:21:49.680 --> 01:21:53.720 it's now or bought a fifty and ounce of sixty, you made twenty percent. 1151 01:21:54.560 --> 01:21:58.039 And I don't think it's been six months, has it? I still 1152 01:21:58.119 --> 01:22:01.720 like constantly. Forty five dollars was into twenty two. Forty five dollars was 1153 01:22:01.840 --> 01:22:08.439 June of twenty it was, Yeah, it was like fifty five dollars in 1154 01:22:08.520 --> 01:22:11.720 June of twenty three. The boy was it last June or two junesy? 1155 01:22:11.880 --> 01:22:14.600 I think the boycott was twenty three, wouldn't it? But I don't know 1156 01:22:14.680 --> 01:22:15.520 I remember now either way. Okay, So if it was twenty three, 1157 01:22:15.560 --> 01:22:18.199 then the point is, and I think I think Gans mentioned this a number 1158 01:22:18.199 --> 01:22:21.039 of times on the show. When you have a major company like that that 1159 01:22:21.159 --> 01:22:27.359 has a problem, that's something you want to start looking at, because that 1160 01:22:27.520 --> 01:22:30.000 idea of like what we're talking about with Apple in the first hour is like 1161 01:22:30.039 --> 01:22:32.079 they're having just bad news go around. Obviously, the boycott's a little worse 1162 01:22:32.159 --> 01:22:35.359 news in the sense of it might take a little longer, but companies aren't 1163 01:22:35.359 --> 01:22:39.880 going to just sit there and let that happen to their stock. I think 1164 01:22:39.920 --> 01:22:42.520 one of the ones I keep looking at is Tesla, thinking gosh, it's 1165 01:22:42.560 --> 01:22:46.159 awfully cheap here, But then I remember their their business model right now is 1166 01:22:46.199 --> 01:22:49.960 not not great. You know, it's not a great business to be in 1167 01:22:50.159 --> 01:22:53.399 right this minute. Yeah, they were the King of it, and now 1168 01:22:53.439 --> 01:22:57.039 it's getting saturated, especially with that news about BYD. They might have some 1169 01:22:57.079 --> 01:23:03.039 missies coming, tremendous competition, dropping prices, shrinking margins. I don't know. 1170 01:23:03.680 --> 01:23:08.119 It just seems like that's probably not a recipe for the kind of stock 1171 01:23:08.199 --> 01:23:10.800 you'd want to It doesn't seem like they're coming they're coming out with new versions, 1172 01:23:10.800 --> 01:23:13.800 I think, but it's nothing too different. No, No, the 1173 01:23:13.800 --> 01:23:16.079 biggest difference will be mileage, right, and they've really not changed anything since 1174 01:23:16.079 --> 01:23:18.680 they started in charging. Yeah, if they can, if they can figure 1175 01:23:18.680 --> 01:23:23.079 out charging speed and mileage, that's how they gain their edge. Again. 1176 01:23:23.199 --> 01:23:26.479 It was like Todd was talking about the quantum computing being huge, or somebody 1177 01:23:26.520 --> 01:23:29.479 that can come up with a battery that'll give you five hundred miles really give 1178 01:23:29.520 --> 01:23:31.239 you five hundred miles. It's a ganga exactly. I mean, that's a 1179 01:23:31.319 --> 01:23:34.479 that's a game changer. Also, you see Elon must suit open Ai. 1180 01:23:35.199 --> 01:23:40.119 No, so he sued open Ai because he thinks that it's not doing what 1181 01:23:40.159 --> 01:23:43.840 it's mission initially told him that it's going to be. It's for it's a 1182 01:23:43.920 --> 01:23:46.800 nonprofit. They're saying now it's for profit doing whatever they want. Company and 1183 01:23:46.840 --> 01:23:49.000 he doesn't like that, so he's suing him, and he said he will 1184 01:23:49.079 --> 01:23:53.439 drop the suit if they change their name from open AI to closed AI. 1185 01:23:54.199 --> 01:23:58.800 What it's trolling again, I mean just just trolling again. He doesn't like 1186 01:23:58.840 --> 01:24:01.119 their philosophy now, doesn't think they're sticking with how because he helped start the 1187 01:24:01.119 --> 01:24:05.640 company funded. He doesn't like how they're going about things now with AI interesting 1188 01:24:06.079 --> 01:24:10.880 one of the more interesting guys in the world. We've got another break coming 1189 01:24:10.920 --> 01:24:13.439 up here again. We thank you for joining us on this Sunday morning. 1190 01:24:13.479 --> 01:24:15.680 Dean, we'll be back for the last segment. We'll talk to you right 1191 01:24:15.720 --> 01:24:19.119 after this break. Welcome back, everybody. This is the money about the 1192 01:24:19.119 --> 01:24:24.000 show. Dean Greenberg, Dave, Dylan, and Todd. We are back 1193 01:24:24.039 --> 01:24:28.159 for another week. So what's your observation on the past week, Miss Mberg. 1194 01:24:28.359 --> 01:24:30.359 It was a typical week Monday, Tuesday, Wednesday, Thursday, right, 1195 01:24:30.640 --> 01:24:34.159 and then Friday kind of a little different. Well, what Friday showed 1196 01:24:34.239 --> 01:24:39.880 us is that at some time this thing is reversus now is it will be 1197 01:24:39.920 --> 01:24:42.600 the continuation On Monday, I will reverse and go back. If it's a 1198 01:24:42.600 --> 01:24:47.279 continuation, you're going to see it continue for a while. Reason being is 1199 01:24:47.319 --> 01:24:50.399 the people are gonna say, I gotta take some of my profits. The 1200 01:24:50.479 --> 01:24:56.439 video Great Stock, Great Company. Since earnings, it went from six to't 1201 01:24:56.439 --> 01:24:59.760 eighty and it got up to nine seventy. Yeah, right, and then 1202 01:24:59.800 --> 01:25:02.600 from nine seventy down eight sixty eight and one day one hundred point turnaround. 1203 01:25:03.520 --> 01:25:08.439 Do I think that there will be buyas at certain levels? Absolutely, But 1204 01:25:08.560 --> 01:25:12.039 is that why we trim? Yes. I mean if you have thirty five 1205 01:25:12.119 --> 01:25:14.600 or forty fifty shares, that's different. But if you had two hundred, 1206 01:25:14.600 --> 01:25:16.640 three hundred, four hundred, five hundred shares, trimming a little bit at 1207 01:25:16.640 --> 01:25:20.760 those levels is not a bad idea because it's really increased a lot, because 1208 01:25:20.760 --> 01:25:24.680 there's nothing worse. If you think about it. You got three hundred shairs, 1209 01:25:24.960 --> 01:25:28.680 you're up thirty thousand, Well, it was up seventy what was it 1210 01:25:28.760 --> 01:25:32.720 up? It was up sixty thirty. So you went basically up fifty, 1211 01:25:32.760 --> 01:25:35.760 which is fifteen thousand, and then you lost fifteenth thousand or thirty grand. 1212 01:25:35.880 --> 01:25:39.479 Yeah, you know, in a in a split second. And it went 1213 01:25:39.920 --> 01:25:45.079 from six fifty to nine to fifty and right, well by two weeks. 1214 01:25:45.119 --> 01:25:47.560 But it all, you know, but you always have to know what your 1215 01:25:47.640 --> 01:25:50.760 plan is for everything that we do. I mean, you guys have discussed 1216 01:25:50.760 --> 01:25:56.760 that the whole time, and it's it's pretty interesting. On if you don't 1217 01:25:56.760 --> 01:25:59.399 have a plan, it's not there. We had somebody coming on Friday. 1218 01:25:59.520 --> 01:26:00.560 He was from our you know, he's a client from us, from out 1219 01:26:00.600 --> 01:26:03.319 of town. And he came in and he saw it, and I said, 1220 01:26:03.319 --> 01:26:05.119 well, what do you think you have to going through the plan? 1221 01:26:05.960 --> 01:26:09.880 He says, you know what, I feel pretty good. I'm only you 1222 01:26:09.880 --> 01:26:13.000 know, twenty seven, and you know I've been able to put some money 1223 01:26:13.000 --> 01:26:15.800 away. But you know, if I just stay on a path, I'm 1224 01:26:15.840 --> 01:26:17.840 set up for life, you know. But he never saw that before, 1225 01:26:17.880 --> 01:26:21.960 even at twenty five, twenty six, twenty seven years old. It helps 1226 01:26:23.000 --> 01:26:26.840 people realize where they're going and how much money they have and how much they 1227 01:26:26.880 --> 01:26:29.960 have to save to where they need to go. Well, well, I 1228 01:26:29.960 --> 01:26:31.520 was going to say, we were meeting with another client where we actually out 1229 01:26:31.520 --> 01:26:35.039 of some a financial advisor we work with, but doesn't you know, use 1230 01:26:35.079 --> 01:26:40.920 our financial software and was actually able to see how we do financial planning. 1231 01:26:40.920 --> 01:26:44.199 And he gave us a huge compliment at the end, saying that he did 1232 01:26:44.239 --> 01:26:48.880 not realize the robustness of this software, and how easily it was user friendly 1233 01:26:49.119 --> 01:26:53.960 for the client. On the other side, it's really a conversation that helped 1234 01:26:54.119 --> 01:26:59.439 answer questions that they've always had, but also bring a certain level of security 1235 01:26:59.760 --> 01:27:02.079 to his mind that he never thought he could have because of all these what 1236 01:27:02.159 --> 01:27:05.159 if scenarios that you drum up in your head that you don't really know how 1237 01:27:05.199 --> 01:27:09.800 to answer unless you ever really go through it. Where this plan we can 1238 01:27:09.840 --> 01:27:14.119 actually simulate going through whatever you have in your head that you know you're afraid 1239 01:27:14.159 --> 01:27:16.720 about and show you whether or not it would actually make a difference in your 1240 01:27:16.720 --> 01:27:20.079 plan. And the fairness. He's been around a long time. It's like 1241 01:27:20.119 --> 01:27:24.800 a lot of us, Dave and I and the financial plans we always used 1242 01:27:24.840 --> 01:27:27.960 to do well, just for the solid life insurance, okay, and the 1243 01:27:28.079 --> 01:27:30.520 solinuities and stuff. It was a ploy to get him in to do that. 1244 01:27:31.039 --> 01:27:34.439 This is a real financial plan. And then you know, and I've 1245 01:27:34.479 --> 01:27:36.680 tried to get him in here to look at this for a while, and 1246 01:27:36.720 --> 01:27:40.920 I think now going forward he's going to say, hey, teach me this. 1247 01:27:40.920 --> 01:27:43.199 This is great. I want to learn this and start doing this for 1248 01:27:43.319 --> 01:27:46.439 my clients too. Well. In this particular client is a client of substantial 1249 01:27:46.479 --> 01:27:50.319 net worth. Whatever problems he has in his life, money is not one 1250 01:27:50.319 --> 01:27:56.319 of them. But he really took some peace of mind from being able to 1251 01:27:56.359 --> 01:28:00.800 see it all on the screen, consolidated and picked toral form essentially, and 1252 01:28:00.880 --> 01:28:05.439 he can't wait to bring his son in to show his son and try to 1253 01:28:05.479 --> 01:28:10.439 get his son down to travel down this same road. The main thing that 1254 01:28:10.520 --> 01:28:12.520 gave him a piece of mind was that we were able to go through all 1255 01:28:12.520 --> 01:28:15.560 his different scenarios he's had in his head for a while, like what if 1256 01:28:15.600 --> 01:28:17.159 he dies earlier, what if she lives a lot longer, what if he 1257 01:28:17.199 --> 01:28:20.319 spends more money. All of that was able to go through just like that 1258 01:28:20.760 --> 01:28:25.359 because we were able to change the scenarios quickly. So we answered all of 1259 01:28:25.399 --> 01:28:28.239 his what ifs in his head that he's had for years. It sounded like, 1260 01:28:28.680 --> 01:28:30.239 and we're able to do it in one meeting. Took hour and a 1261 01:28:30.239 --> 01:28:33.239 half and we were able to go through everything, and he left there a 1262 01:28:33.239 --> 01:28:35.920 lot happier, even though we on our end we're like, yeah, you'll 1263 01:28:35.960 --> 01:28:39.800 be all right, but it had to make him comfortable. And the way 1264 01:28:39.840 --> 01:28:42.359 you do that is being able to go through all the different scenarios that they 1265 01:28:42.399 --> 01:28:44.960 have drummed up like you're saying, throughout the years. And he has the 1266 01:28:44.960 --> 01:28:49.479 best part him being an engineer. He's as analytical and cautious as possible. 1267 01:28:49.600 --> 01:28:54.159 Yes, he questions everything and wants to look at it. So when you 1268 01:28:54.159 --> 01:28:59.239 can make somebody that is always looking at every single angle comfortable, this is 1269 01:28:59.239 --> 01:29:00.479 a great softa. You know what, It gets better all the time. 1270 01:29:00.520 --> 01:29:04.119 That's what I like. Well, they update it, they make it better, 1271 01:29:04.159 --> 01:29:06.479 they take input and they make it better and better and better. Yeah. 1272 01:29:06.479 --> 01:29:09.359 And the whole thing is like I mean, we've been told like you 1273 01:29:09.399 --> 01:29:12.000 should charge for this plan and everything. We just don't agree with that. 1274 01:29:12.199 --> 01:29:16.000 It's not how we believe that we're That wouldn't be in our helping people as 1275 01:29:16.000 --> 01:29:17.960 to be trying to get money from people. Instead, we do this for 1276 01:29:18.000 --> 01:29:21.319 free because it's something that can help. For example, in two years when 1277 01:29:21.359 --> 01:29:25.920 the tax laws change, and if they change you know two percent, this 1278 01:29:26.239 --> 01:29:30.159 software will automatically update the taxes into it. No I have to It's not 1279 01:29:30.199 --> 01:29:32.239 like I have to go in and change numbers or anything. It's automatically done. 1280 01:29:32.319 --> 01:29:34.800 I mean it has it too. With rm DS. If you're turning 1281 01:29:34.840 --> 01:29:38.760 seventy three within the next couple of years. Obviously you'll start rm ds. 1282 01:29:38.800 --> 01:29:41.640 If you're forty five years old and you're doing this plan, your rm DS 1283 01:29:41.640 --> 01:29:45.600 will be seventy five. Age seventy five. The plan automatically has that set 1284 01:29:45.600 --> 01:29:47.760 in for you. And that brings us to the event that we're we're talking 1285 01:29:47.800 --> 01:29:50.680 about in April second, because you're gonna learn a lot of strategies at this 1286 01:29:50.760 --> 01:29:56.760 event and strategies that you can possibly implement before the tax changes you know, 1287 01:29:56.840 --> 01:30:00.520 actually change. That way you can be prepared. We can act actually put 1288 01:30:00.560 --> 01:30:03.960 those what if strategies into your plan before you ever do them to see whether 1289 01:30:04.039 --> 01:30:06.960 or not it makes a difference. We can play with if they take the 1290 01:30:08.039 --> 01:30:10.960 tax code of this, how does it help your plan? We can play 1291 01:30:10.960 --> 01:30:13.880 with all those we if scenarios. So that's why again this event is so 1292 01:30:13.960 --> 01:30:15.880 important because you're going to learn the strategies you need to know for your particular 1293 01:30:15.920 --> 01:30:19.439 plan, and then you can bring those ideas back to us and we can 1294 01:30:19.479 --> 01:30:25.520 do a complimentary comprehensive financial plan for you. After that and the April second 1295 01:30:26.479 --> 01:30:30.760 symposium that we're doing, it's all about opening our eyes to what's coming and 1296 01:30:30.840 --> 01:30:34.720 showing you ideas on how to mitigate risk, Why you have to mitigate risk, 1297 01:30:35.119 --> 01:30:41.479 how do you make your portfolio more conservative or more aggressive depending where we 1298 01:30:41.520 --> 01:30:44.119 are in the markets, how we go ahead and do the estate plan, 1299 01:30:44.239 --> 01:30:47.279 how we save on taxes. What's going to happen with the political election one 1300 01:30:47.319 --> 01:30:50.640 way or the other. These are all things that we really like. I'm 1301 01:30:50.680 --> 01:30:54.720 bringing in J. T. Harris, who's the morning guide now that took 1302 01:30:54.720 --> 01:30:58.680 over for Garrett Lewis and Garrett moved to the afternoon. I want to see 1303 01:30:58.680 --> 01:31:00.840 what he's all about. Want to, you know, see if you know 1304 01:31:00.880 --> 01:31:03.159 we like him and not like him down here? You know what I'm saying. 1305 01:31:03.319 --> 01:31:06.119 I know he was down here before, Like I wanna, I want 1306 01:31:06.119 --> 01:31:10.359 to, I wanna you know kanus he has been good to us, so 1307 01:31:10.399 --> 01:31:13.840 I want to see see what happens and and and meet him and then and 1308 01:31:13.920 --> 01:31:15.479 see what we if we can help each other. But the thing is, 1309 01:31:15.520 --> 01:31:19.239 if you do not show up for this type of symposium, it's on you. 1310 01:31:19.880 --> 01:31:24.079 We're giving it to you for free. In fact, it's costing us 1311 01:31:24.079 --> 01:31:28.119 because I'm buying you lunch. Okay, I'm gonna buy you lunch to show 1312 01:31:28.199 --> 01:31:30.000 up to hear what we have to say, and you go, Okay, 1313 01:31:30.039 --> 01:31:33.800 there's gotta be something it's not. Yeah, that's right. That's how we 1314 01:31:33.880 --> 01:31:39.359 develop on business. We do things for you first. We take the risks 1315 01:31:39.359 --> 01:31:42.439 that you might not like us or the ideas or whatever, but show up. 1316 01:31:42.720 --> 01:31:45.239 But you know what, I've been able to build a business because at 1317 01:31:45.279 --> 01:31:47.520 the end of the day, people like dealing with us. They like our 1318 01:31:47.560 --> 01:31:51.800 team approach, they like our planning software, they like the way we talk, 1319 01:31:51.880 --> 01:31:56.680 they like our integrity, they like everything that we do. Our word 1320 01:31:56.760 --> 01:31:59.640 is a word and we stick to it. And that's how we go ahead 1321 01:32:00.039 --> 01:32:02.039 and grow up business. So again, if you're interested, you can give 1322 01:32:02.079 --> 01:32:04.880 us a call five to zero five four four four nine zero nine and go 1323 01:32:04.960 --> 01:32:10.159 to our website Greenberg Financial dot com. Well, you'll start hearing all the 1324 01:32:10.239 --> 01:32:14.279 radio commercials talking about it on our on KNST. You'll hear it on our 1325 01:32:15.199 --> 01:32:19.000 Saturday radio shows at six thirty, twelve and twelve thirty. Actually, it 1326 01:32:19.079 --> 01:32:23.039 might change because of our time change it does. We don't change. It 1327 01:32:23.159 --> 01:32:27.039 changes change. I keep telling you that we don't change. Yeah. But 1328 01:32:27.119 --> 01:32:30.760 and here's here's the deal I make with you. You come, it's free. 1329 01:32:30.920 --> 01:32:32.840 You come. I'm giving you lunch if you think it's not worth it, 1330 01:32:33.079 --> 01:32:38.199 I'll let you buy me lunch and tell me why. There deal. 1331 01:32:38.359 --> 01:32:40.640 How about that you, I will go and spend time with you, and 1332 01:32:40.640 --> 01:32:44.600 you tell me why it wasn't worth your time to come, eat lunch and 1333 01:32:44.680 --> 01:32:46.279 listen to what we have to say. There's not some trick to get you 1334 01:32:46.319 --> 01:32:49.039 on the list, but will beat you up and tell your finallys to come. 1335 01:32:49.439 --> 01:32:53.239 We'll have plenty of people. We have plenty of people that signed up 1336 01:32:53.279 --> 01:32:58.079 already. I'm sure we're going to oversubscribe. We just started really pushing it. 1337 01:32:58.199 --> 01:33:00.520 And and once it gets out there, it's out. Then once it's 1338 01:33:00.560 --> 01:33:04.880 closed as closed. Remember starting tomorrow, the market opens at six thirty closes 1339 01:33:04.920 --> 01:33:09.520 at one. I'm glad I don't have to be here that early anymore for 1340 01:33:09.600 --> 01:33:13.560 thirty years. Thirty years, yep, doesn't to daily save any times. 1341 01:33:13.600 --> 01:33:19.039 Doesn't impact anybody except people in this Industryah, I was born in the morning. 1342 01:33:19.119 --> 01:33:23.680 It's easy, it's fine, you know mine. It is nice to 1343 01:33:23.760 --> 01:33:26.880 have the market close at one if you have errands to run or things you 1344 01:33:26.920 --> 01:33:29.520 need to even two, you can get you out of here. Three o'clock, 1345 01:33:29.600 --> 01:33:31.079 four o'clock. You know what. It gives us the ability to do 1346 01:33:31.199 --> 01:33:35.039 things that we can never do anyplace else. Coach. I've always liked the 1347 01:33:35.079 --> 01:33:39.439 six thirty to one, that's eight months out of the year. But as 1348 01:33:39.439 --> 01:33:42.279 I'm getting older, Dean, I'm liking the seven thirty to two a little 1349 01:33:42.319 --> 01:33:44.960 bit. Yeah, well it's gonna go away, so I don't like it 1350 01:33:44.960 --> 01:33:46.000 too much. It's gonna stay at six thirty at some point, right, 1351 01:33:46.199 --> 01:33:48.159 Yeah, he's six thirty. Well yeah, but Dave, you go to 1352 01:33:48.199 --> 01:33:53.960 sleep now at seven, so it doesn't matter. And I'm very, very 1353 01:33:53.960 --> 01:33:57.159 fortunate in that I sleep like a baby, which is Yeah, it's just 1354 01:33:57.199 --> 01:34:00.359 the normal tough Becau's still dark once it gets light out at five. It's 1355 01:34:00.399 --> 01:34:04.720 not really that's exactly the few weeks it's dark still, it's tougher. No, 1356 01:34:04.840 --> 01:34:08.840 absolutely right, absolutely right, although I don't think I don't know how 1357 01:34:08.920 --> 01:34:12.239 dark it is at six thirty now. It's like I'm saying, when you 1358 01:34:12.239 --> 01:34:14.960 wake up at five am, oh yeah, rather than six. Remember if 1359 01:34:15.000 --> 01:34:16.560 you missed any part of the show, you can go to our website. 1360 01:34:17.119 --> 01:34:24.399 It comes on tomorrow. We always put the podcast up on Monday. You 1361 01:34:24.439 --> 01:34:27.439 know a lot of people listen to it. You can listen to iHeartRadio it's 1362 01:34:27.479 --> 01:34:30.800 a free app. And then on TV show, same thing, and on 1363 01:34:30.920 --> 01:34:33.880 TV shows also radio shows on Saturday, a little different format, a little 1364 01:34:33.920 --> 01:34:38.000 bit more educational, just lets you get to know who we are and what 1365 01:34:38.039 --> 01:34:41.560 we think, especially with the monologue. And on the Ihearted Radio app. 1366 01:34:42.079 --> 01:34:44.039 I don't even know what you call that, but what do you say? 1367 01:34:44.039 --> 01:34:48.359 App? App that's available, always available by noon on Sunday. Yeah, 1368 01:34:48.520 --> 01:34:53.079 it's always there. I don't know if that's a podcast. Yeah, it's 1369 01:34:53.479 --> 01:34:55.920 for all the podcasts. No, it's always there by noon on Sunday. 1370 01:34:56.279 --> 01:35:00.720 On the other podcast networks, there is that tech is it what they call 1371 01:35:00.760 --> 01:35:05.880 a podcast podcast? So you can Yeah, you know. AI's been driving 1372 01:35:05.880 --> 01:35:10.159 the market. So it was nice this week to see a report from salesforce 1373 01:35:10.239 --> 01:35:14.079 dot com, who's right in the middle of this, saying that AI spending 1374 01:35:14.239 --> 01:35:20.279 is expanding even into small businesses. Was sixty percent of small businesses expecting to 1375 01:35:20.319 --> 01:35:26.439 increase their technology budget this year if you can handle the pullbacks. The AI 1376 01:35:26.600 --> 01:35:30.239 market is just at the beginning of the Bowl game, maybe first second inning, 1377 01:35:30.319 --> 01:35:33.159 maybe third inning. Max, all right, we have a long way 1378 01:35:33.199 --> 01:35:36.600 to go, but it's going to be volatile and it's going to go ahead 1379 01:35:38.000 --> 01:35:41.880 and be scary sometimes, but the upsides I think are going to continue for 1380 01:35:41.960 --> 01:35:45.039 years to come. All Right, we're gonna have to say goodbye. We 1381 01:35:45.119 --> 01:35:47.760 appreciate you listening, being part of our show. We'll be back next week 1382 01:35:47.760 --> 01:35:54.319 with your money matters. Be happy, be healthy, and we all strive to be