Dec. 22, 2024

Santa Clause Rally and a Hawkish Fed: What It Means for Your Money!

Santa Clause Rally and a Hawkish Fed: What It Means for Your Money!
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Santa Clause Rally and a Hawkish Fed: What It Means for Your Money!
Santa Clause Rally and a Hawkish Fed: What It Means for Your Money!

This week on Money Matters, brought to you by the Greenberg Financial Group, we celebrate a stellar year for stocks! But with a hawkish Fed rate cut sending shockwaves through the market, what could "higher for longer" rates mean as we head into 2025?...

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This week on Money Matters, brought to you by the Greenberg Financial Group, we celebrate a stellar year for stocks! But with a hawkish Fed rate cut sending shockwaves through the market, what could "higher for longer" rates mean as we head into 2025?
We also explore President-elect Donald Trump’s potential economic policies and their implications for the U.S. economy. Will next week’s Santa Claus rally cap off an already amazing year for stocks?
Finally, we share critical risk mitigation strategies to help you navigate surprises in the market and prepare for what’s next. Tune in for a fun, insightful, and timely discussion on all things money!

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Good morning everybody. This is that time once again, Sunday morning,

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eight o'clock right here in seven ninety knst. It is

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the Money Matter Show with Dean Greenberg and arrest of

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the group from Greenberg Financial Group to bring you the

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best insights to what we think is happening in the

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markets and as money managers and how we're investing, what

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we're actually looking for and doing. It was not a

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good week obviously until Friday, but markets were down for

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the week. That was down over two percent, The SMP

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was down over two percent. Now as that was down

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just under two percent, Russell two thousand down almost five percent,

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and the equal weighted SMP was down three percent, and

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those were a little bit worse going into Friday. What

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caused all this, The cause of this was the Federal

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Reserve lowering interest rates into the face of possible inflation.

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Now they consider, oh it's only a quarter of point,

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it's not a big deal. We're trying to get to normality.

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But well, hotter than we expected. Remember the CPI, the

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PPI numbers came in hotter than expected. The PCE number,

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their inflation India that was down was a little bit

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less zero point one percent that came in on Friday.

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But at the end of the day it was confusion

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because at the end of the day Powell says we

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might not be able to lower rates as much as

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possible that we thought going into less. You remember this year,

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they thought there was going to be six, then four,

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we got two. Then they were talking about four or

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five next year. Now they're talking about two. They're always

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wrong and that's why my respect is with the people

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that actually pull the trigger and try to invest to

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make money, not the people that just blurbout things out

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of their mouth and say what they think is going

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to happen. It's a lot easier to talk, it's a

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lot harder to do. And remember that as you're investing,

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either your own money or whoever your advisors are, and

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what you're trying to do, it's all about the allocation,

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and it's all about mitigating risk, and it's all about

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under standing cords. In effect, this is the Moneymount of

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Show and it's brought to you by Greenberg Financial Group.

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Greenberg Financial Group is both the registered investment advisory and

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a broken dealer registered with the SEC. Members of CIPIC

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and members of FINRA.

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On the show, we.

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Talk about different products and different strategies. We also have

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our own ideas, our own thoughts. We differ, we tell

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you the way we think it is. We can differ

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and still communicate and get along. But it's all about risk.

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What is your risk tolerance? What is your risk ability?

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These markets are going to get volatile. I was telling

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you this for the last few weeks. Since markets are

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going to get volatile. Sony was too high. It will

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pull back. I'm not sure that it's done pulling back,

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but I thinking it might have pulled back enough right

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now for the Santa Claus rally. We were done pretty

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hard on Thursday, and then Friday we came in. We're down,

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and then we rallied back and we ran higher, then

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we pulled back at the end. There's a lot of

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different things going on there, some shortcovering, some other things.

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But we'll see what happens. Now in the end, we'll

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see what happens, because I think that we can see

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kind of see some buying come in. Remember, it will

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behoove every money manager who put all the lot of

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their money in in the month of December to get

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this market back up to where at least they were

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buying it before so they can go out in the

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year on good terms. And obviously the higher their portfolios

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are the biggest. Their bonuses are no different than everybody

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that manages money. The more money we have onunder management,

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the better off we do. So we always want to

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see the markets increase for us as much as possible.

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But the great thing is we're on the same side

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as you, because if you make more money, we make

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more money. You don't make as much money, we don't

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make as much money. It's that simple, And that's what

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I appreciate about how we manage money at Greenberg Financial Group,

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and how I appreciate eight others that do the same thing,

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same side, same way. Press the button, we decide allocations,

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who and how and make them set for everybody else.

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Like I said a little earlier, institutions, money managers, people

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putting money into mutual funds piled in in the month

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of December believing their markets would rally right to the

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end because they weren't coming down. We were surprised by

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how deep the markets were, how fast they fell on Thursday.

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But I really wasn't that Wednesday, I should say, And

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then on Thursday when it reversed that surprise because, as

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I always say, if you're having a party, people come

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between six and seven o'clock. They all walked through the

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same door. But there's a problem and everybody needs to

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leave that party at the same time time. Not everybody

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can leave the through that same door. They go out

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the back door, they go out windows, they jump off

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the roof, they get out. If there's a problem inside

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that party, think about that. It's easy to walk in,

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but if everyone wants to get out at the same time,

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you're not going out the same door, which is what

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created the sell off we had last week. I'm hoping

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that it got sold off at least on a short term.

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I believe we can rally into the end of the year,

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and then I'd be very cautious coming into January seeing

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how high we are because valuations haven't changed, inflation hasn't changed.

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We gave back almost everything from the Trump bump. We'll

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see where we're going. Great ideas, but as we saw

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last week, Congress is still dysfunctional. Congress still can't put

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together a spending bill. Congress still can't understand they got

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to stop spending. Congress still can't put together a budget,

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and they want to keep raising the debt limit both sides.

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We cannot do that. We're thirty six trillion dollars, they say,

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in debt. That's our debt, thirty six trillion. But we're

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one point a trillion budget. We don't bring in enough.

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We need to stop spending. And you can listen to Pelosi,

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you can listen to Shuma, you can listen to every

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freaking Democrat that's out there that tells you, oh, they're

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being run by the richest man in the world. He's

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telling them all to do. I'd rather be told what

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to do by the most successful man in the world

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than a bunch of government officials that tell you they

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need more government. That they tell you they need more money,

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that they need to keep doing it. The government is

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the one, according to them, that will make everything work. No,

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we are the ones. The people are the ones. The

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people the ones that have to go to work. The

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people are the ones that make the money. The people

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are the ones that spend. The economy is about how

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much money we can spend without putting ourselves in too

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much debt that we can't afford it. Well, the government

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should think of the same thing and finally, after all

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these years of being alive, I am so happy to

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see two people leading the charge to try to go

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ahead and get the government working as a business. So

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where's it start. It's very simple. It starts with spending

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and cutting the fat. It starts with these bloated audits

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that nobody can even tell you where the money is

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going to in the defense, DoD and Doe and everybody

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else that's out there. It will start with people actually

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having to go to work. It will start with people

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that have to go ahead and either go into those

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buildings or get rid of the office space that we

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spend billions of dollars on. It will start with the

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big and start and end with the small. It will

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start with people complaining that they are getting fired if

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they don't want to go to work. Oh, poor them,

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poor government officials. They want to work from home. Well,

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you and I got to get up, go on the bus,

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do whatever we got to do to get to work,

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drive our cars, pay for cars, do the things we

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need to do. Yes, there are some jobs you can

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be at home because your territory is so big and

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that's your home base. But even those people have a

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home base at some place where the home office is

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that they.

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Fly to every once in a while.

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The government officials have the nerve to put a pork

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belly filled build together to go ahead and pass for

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the spending. I'm appalled at this time that they don't

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get it. The Democrats don't get it. This is what

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they've been doing the entire time while they've been in power,

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putting stuff in the bills just to pass them to

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go ahead and keep.

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Spending and spending and spending.

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Going ahead again, what was another one hundred and eighty

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five billion or four hundred billion dollars worth of student

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loans for forgiveness again under the usper under the umbrella,

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saying these are officials that were supposed to get it.

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They are public officials, public workers, public servants, all the stuff.

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I want to see it, prove it. And have they

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been paying on time or they've just been not paying

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at all?

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Okay, I don't.

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Want to reward anybody that hasn't kept their payments up

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at the minimum that they're supposed to. And just because

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it's overwhelming, saying oh no, you don't have to worry

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about it, while other people working their butts off to

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try to pay their credit card bills or other bills

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to keep their credit intact. It's not fair, and it's

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about time. We're going to see fairness right across the board.

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You're gonna hear people moaning and groaning. And I promise

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you everyone that's moaning and groaning are the ones that

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don't want to work, that have had it easy and

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continue to get a paycheck. Now they are government workers

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that work their butts off, that are great at what

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they do. They'll have to go to work and they'll

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probably enjoy it because now they will have the opportunity

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to earn the right to move up and make more money.

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Because the others will go ahead and pretty much quit

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or retire themselves, depending on how old they are. It's

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time to streamline. It's time to streamline our tax code.

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It's time to streamline how we pay our taxes. Intea,

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they are going ahead and putting eighty five billion dollars

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to the irs or whatever they gave to them. It's

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time to streamline it so you and everybody else can

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go ahead that have simple tax returns and you send

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them in and pay everyone's Oh they can is complicated? No,

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you know what, it's not complicated because you see in

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the spending bill, the Democrats and all put together a bill.

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The first one that goes through fifteen hundred pages. The

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second one that goes through is about one hundred and

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sum odd pages. You can simplify things if you want to.

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You can simplify things if you just try. And of

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course everyone's gonna say they can't do this and they

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can't do that. Well, I'll of rather the people saying

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you can't do this and you can't do that are

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the ones that are sitting back, while the other ones

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that have done are the ones gonna get it done.

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You're gonna here so much, You're going to see so

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many things happening, and what you're going to do is

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try to understand that we're moving in the right direction.

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It's time that we simplify. It's time that we make

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the government smaller. Use the government for protection, use the

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government for disasters, use the government for what it was

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supposed to be for.

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Give the rest of it to the states. Education should

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go to the states.

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Then there's nobody we can blame in Arizona that we're

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number forty seven, forty eight in their country. When we

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got a few pockets of schools doing very well while

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the others, the rest of them are just maintaining mediocurity

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needs to go away. We need to be strong again.

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I'm looking forward to it, and I think you are too.

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I think it's going to be quite a difference. The

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things I start seeing, too, is that the media is

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starting to kind of come more to the center. Let's

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not beat him up so much anymore. Let's see what

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he can do, because you don't what they were so long.

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Look at the ratings. Look at the ratings on CNN,

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look at the ratings on MSNBC. Look at the ratings

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on how many less viewers they are seeing right now

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because people who realize they were lied to. This whole

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thing with this Biden administration was a bunch of malaukeey.

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He wasn't doing well for a few years, and they

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tried to stand them up and prop them up as

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if well, we were Bernie's whatever. That was the one that,

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uh would Bernie that at the Hamptons. Okay, The bottom

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line is someone else is trying to run the country,

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and we don't know who it is. At least when

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Trump's running it, we know who it is. If there's

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ideas coming from Musk we know it's coming from them.

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If it's coming from other people, we know it's coming

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from them. Because you know why Trump tells us everyone

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says it's about him, his narcissism. He doesn't like women,

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he doesn't like this, He treats this bad. It's all

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a bunch of lies from the beginning to the end.

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And it's a good thing now as you look back

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that maybe he had those four years off and we

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had a disastrous four years in order to come back

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and give someone a chance. Now, it's not gonna be easy.

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I'll tell you that right now. Inflation's not going away,

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but energy prices will have to come down, Regulations will

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be cut, and that hopefully will pass on prices to

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other people. Our supply chains have to come back. We

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can't be in a situation where China controls our health

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care essentials.

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We just can't.

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These things will all help the markets, will all help

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the economy. I think there's gonna be a little pain though,

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and it could start in the first part of the

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year in the markets. So make sure you understand how

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to mitigate the risk. Don't be all in. Until we

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had that situation where the markets fall. Sometimes they don't

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fall right away, as we saw. Sometimes it takes some time.

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Sometimes it takes some mentality to change. And when it changes,

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it goes down and then it pops it. Then it

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goes down and pops it, and it goes down and

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then it puts in a bottom time. Patience, we'll have it.

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We've had a lot of speculation, obviously from AI stocks,

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then to bitcoin and then to quantum computing ring. Remember

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I'm not that old. Do we not remember what happened

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in the late nineties into two thousand Okay, with the

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dot com era, Oh my gosh, everything was dot com.

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Everything went up until it didn't. Then going into two

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thousand and eight, everything was great. Leverage do this, these

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are great. Everything's great until it wasn't. Then we had

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the pandemic, and then we had other things in between.

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The markets need the ability to know that they're not

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an underpinning of cards.

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Built on a deck of cards. Okay.

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The markets need to know that what's ever underneath it

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that if we pull back one or two steps, there

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got to be some men steps that we can go

279
00:16:33.919 --> 00:16:37.080
ahead four, now, go up ten and then fall down

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twenty And right now the highs and the lows in

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the market are wide most so you're going to see volatility.

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It's here to stay for a little bit. We didn't

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have volatility for about two months.

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We just trickled up, trickled up, trickled up.

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Well, the Fed changed that and now there's no direct

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path to understanding exactly what the Fed's going to do.

287
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So it's gonna go higher.

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Now, remember the Fed lowers interest rates, everyone thinks, oh,

289
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mortgage is gonna come down, car loans are gonna come down,

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personal loans are gonna come down, credit card injury is

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gonna come down. Long they're all based on the treasuries.

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The treasuries all went up and yield the ten years

293
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moved back to over ten and a half four and

294
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a half percent. That's what most mortgages.

295
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Are based on ten year treasury.

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And then you add to it, yeah, you know who

297
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may who. What happens when you have a situation. When

298
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they were lowering the FED funds rate banks to banks

299
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can borrow money less, So they borrow money less, which

300
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means it's liquidity, which eventually that gets into the system

301
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and allows for growth.

302
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But we have to be careful because.

303
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We have a good economy. GDP was higher than expected.

304
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It was over three point two. That's good growth. So

305
00:18:01.079 --> 00:18:02.599
it's a weird situation.

306
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That we have right now.

307
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When we have good growth, we have inflation, and we

308
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have people that can't pay for stuff.

309
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So what do you do. We're gonna have to cut

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spending to get a debt down. We get a debt down.

311
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We've got to get rates down so we can go

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ahead and afford the debt the first In the first place,

313
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it cannot keep going higher and keep higher the interest rates.

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Something will break.

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And when it breaks, guess what happens, We the people

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pay for it, because then you'll have to be more taxes.

317
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They'll have to cut Social Security, they'll have to they'll

318
00:18:39.240 --> 00:18:41.599
put it, of course.

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More for medicare where they're gonna get the money. Don't

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allow it to happen.

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Understand and listen, and don't let the people that are

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against what's going on politically influence you to the point

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that you get scared. Realize some pain is gonna have

324
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to happen. We're gonna have to get or act together.

325
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We're gonna have to put ourselves in position that we

326
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start not spending so much, so we can see the

327
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debt come down, then we can refinance the debt when

328
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the interest states come down at lower rates, which helps

329
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us all the way around. Now, do I think the

330
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debt's gonna come back down to zero?

331
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No?

332
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Do I even think it's gonna come back down the

333
00:19:23.160 --> 00:19:26.079
twenty trillion? Probably not, But it'd be nice if we

334
00:19:26.079 --> 00:19:30.279
can hang around the twenty five to thirty trillion dollar range.

335
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It'd be nice if we can have a budget situation

336
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where we're not in a deficit every year. It'd be

337
00:19:36.279 --> 00:19:38.400
nice that we don't have to raise the debt ceiling

338
00:19:38.799 --> 00:19:42.319
to pay our bills every six months. And it would

339
00:19:42.359 --> 00:19:46.440
be really nice if Congress would figure out how to

340
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do this correctly, not just put themselves in a position

341
00:19:51.119 --> 00:19:56.119
that they've voted for more pay the goal that they

342
00:19:56.200 --> 00:19:59.920
stick that in that bill at this time while people

343
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aren't able to afford things. And I understand it's been

344
00:20:03.799 --> 00:20:10.519
ten years, eleven years, maybe longer, Okay, so supposedly, And

345
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if that's the case, then how do they co into

346
00:20:12.480 --> 00:20:16.559
Congress and end up so rich when they come out

347
00:20:17.279 --> 00:20:20.200
If they're not making enough money, where and how are

348
00:20:20.240 --> 00:20:22.680
they getting their investments that they can go in with

349
00:20:22.759 --> 00:20:24.519
maybe a few hundred grand to come out with ten

350
00:20:24.640 --> 00:20:27.240
twenty fifty hundred million dollars.

351
00:20:27.720 --> 00:20:29.000
Can you tell me that, please?

352
00:20:29.920 --> 00:20:32.960
Why hasn't anybody ever investigated that? Why do you go

353
00:20:33.039 --> 00:20:36.480
after the rich people that actually took a risk and

354
00:20:36.559 --> 00:20:41.240
started companies and made billions of dollars because what they

355
00:20:41.319 --> 00:20:45.519
did is what people wanted. Why hasn't the media, the

356
00:20:45.680 --> 00:20:52.119
journalists ever looked into why our congressmen makes so much money.

357
00:20:53.799 --> 00:20:56.759
Why haven't we afford back and said we want term

358
00:20:56.839 --> 00:21:00.880
limits that would change at all. Why do they ask

359
00:21:00.920 --> 00:21:04.079
for more money when already they got the best, best

360
00:21:04.119 --> 00:21:08.039
pension plan in America and they only have to be

361
00:21:08.079 --> 00:21:08.279
in what.

362
00:21:10.960 --> 00:21:11.640
Two times?

363
00:21:12.599 --> 00:21:15.759
They get a full pension if they're re elected, and

364
00:21:15.799 --> 00:21:21.839
they have two terms, the best medical care forever, much

365
00:21:21.839 --> 00:21:24.079
better than anything we have. But yet they want everybody

366
00:21:24.079 --> 00:21:32.640
on Obamacare. Okay, they get people that you know, we'll

367
00:21:32.680 --> 00:21:36.680
always have protection. I get it during the lime light. Well,

368
00:21:36.680 --> 00:21:38.799
we all are in the limelight for some reason or another.

369
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We pay for their protection. We pay for so much

370
00:21:46.240 --> 00:21:49.720
that we don't know. And then when we want protection

371
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for the United States of America by not letting illegals

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in and start doing something, they don't want that. But

373
00:21:57.519 --> 00:21:59.559
yet they'll put guards in front of their house, and

374
00:21:59.559 --> 00:22:02.000
they'll put fences up around their house. But yet we

375
00:22:02.039 --> 00:22:08.200
can't do that as a nation. That's all changing, and

376
00:22:08.279 --> 00:22:14.000
basically forty days, how about that, it's all changing for

377
00:22:14.039 --> 00:22:20.279
the better. Cut the fat out of the government, get

378
00:22:20.319 --> 00:22:25.799
a better budget, go ahead and stop spending. Spend on

379
00:22:25.880 --> 00:22:28.839
what we need, not what they want. You ever hear that?

380
00:22:29.119 --> 00:22:31.359
How many times have your parents always said, spend on

381
00:22:31.440 --> 00:22:33.559
what you need, don't what you want.

382
00:22:33.880 --> 00:22:38.119
You might want a Rolls Royce, but go get a Honda.

383
00:22:38.200 --> 00:22:40.160
You might want to live in a two million dollar home,

384
00:22:40.279 --> 00:22:42.680
but all you can afford is a five hundred thousand

385
00:22:42.720 --> 00:22:47.319
dollars home. Live in that home. You want more, earn more,

386
00:22:49.160 --> 00:22:51.519
and live within your means. I know a lot of

387
00:22:51.559 --> 00:22:54.759
millionaires that live within their means and never made over

388
00:22:55.119 --> 00:22:59.480
seventy five to one hundred thousand dollars. They live within

389
00:22:59.640 --> 00:23:04.200
their means, they don't overspend, and they spend on what

390
00:23:04.240 --> 00:23:07.000
they need, now what they want. So as we come

391
00:23:07.039 --> 00:23:09.799
into this and we start moving forward to the end

392
00:23:09.880 --> 00:23:13.279
of this year, I believe we can have that Santa

393
00:23:13.279 --> 00:23:17.359
Claus rally. Probably, I mean, you know, maybe we go

394
00:23:17.440 --> 00:23:20.400
up back to close to the new highs or close

395
00:23:20.440 --> 00:23:22.599
to who knows, it's not that far away, maybe two

396
00:23:22.720 --> 00:23:25.319
or three percent, but it's better than going down. I

397
00:23:25.359 --> 00:23:29.799
do think there's the aged money, money managers, institutions, all

398
00:23:29.799 --> 00:23:31.640
those people want to see you go highering to the

399
00:23:31.759 --> 00:23:34.000
end of the year. If it doesn't go high and

400
00:23:34.079 --> 00:23:36.680
goes down, then I think after the first of the

401
00:23:36.759 --> 00:23:37.400
year we go higher.

402
00:23:37.440 --> 00:23:39.279
But if we go higher, I'm going to.

403
00:23:39.359 --> 00:23:42.759
Keep telling you this every week, be cautious going into

404
00:23:42.799 --> 00:23:45.039
the next year. If we're close to the new highs

405
00:23:45.079 --> 00:23:47.640
or made a new high or somewhere around there, because

406
00:23:47.640 --> 00:23:49.480
then I think that you'll see profit taking. A lot

407
00:23:49.480 --> 00:23:51.359
of people don't want to take their profits this year

408
00:23:51.640 --> 00:23:55.039
in a lot of areas because obviously they don't want

409
00:23:55.039 --> 00:23:58.279
to pay more taxes. So let's see where we're at,

410
00:23:58.640 --> 00:24:01.559
look at what's going on. Get excited about what's going

411
00:24:01.640 --> 00:24:04.680
to happen, but don't expect everything to be great right away.

412
00:24:04.880 --> 00:24:07.599
We're gonna have to have some pain before we have

413
00:24:07.680 --> 00:24:11.000
the pleasure. That's the way it's gonna be. Open up,

414
00:24:11.160 --> 00:24:15.559
get smart, learn everything you can so we all can

415
00:24:15.599 --> 00:24:18.400
be in this thing and come out on the other side.

416
00:24:19.039 --> 00:24:21.799
Very happy. Do appreciate you all listening. I'm gonna take

417
00:24:21.799 --> 00:24:22.400
a show a break.

418
00:24:22.400 --> 00:24:25.319
When we come back, we have everybody here to talk

419
00:24:25.359 --> 00:24:27.200
to you about what's going on.

420
00:24:28.359 --> 00:24:30.039
Welcome back to the Money Matter Show. My name is

421
00:24:30.039 --> 00:24:32.920
Sebastian Borseni. I'm here with Todd Glick Junior, David Sherwood,

422
00:24:32.960 --> 00:24:35.839
Dylan Greenberg, Dean Greenberg. We got the whole crew here today.

423
00:24:36.079 --> 00:24:38.440
Before we go further, I'm gonna get into the quick disclaimer.

424
00:24:38.440 --> 00:24:40.400
The show is sponsored by the Greenberg Financial Group and

425
00:24:40.400 --> 00:24:43.079
you can listen on seven to ninety KNISC or iHeartRadio.

426
00:24:43.480 --> 00:24:46.519
The show discusses different investment products and strategies. Every product

427
00:24:46.559 --> 00:24:49.039
and strategy have some type of inherent risks, and we

428
00:24:49.079 --> 00:24:52.359
strongly to strongly encourage our listeners to properly understand the

429
00:24:52.440 --> 00:24:55.359
risk to determine whether to buy, sell, or hold. The

430
00:24:55.400 --> 00:24:57.039
show has been on air for over thirty years. The

431
00:24:57.039 --> 00:24:59.319
Greenbrig Financial Group is registered with the SEC and a

432
00:24:59.319 --> 00:25:01.920
member of finer CIPIC. This is their website at Greenberg

433
00:25:01.960 --> 00:25:03.480
Financial dot com for some more information.

434
00:25:03.799 --> 00:25:05.279
So fast it was almost like one of those car

435
00:25:05.319 --> 00:25:06.200
dealer things, you know.

436
00:25:06.920 --> 00:25:10.359
Disclaimers after medical medical commercials.

437
00:25:10.880 --> 00:25:14.519
Amazing if you take this drug, you will die away.

438
00:25:14.519 --> 00:25:16.799
If you take this drug, you will no longer have

439
00:25:16.880 --> 00:25:20.240
elbow pain, but it could kill you. Well, really, I

440
00:25:20.240 --> 00:25:21.039
don't think most people.

441
00:25:23.319 --> 00:25:25.440
Most people don't know that we're one of the only

442
00:25:25.559 --> 00:25:28.799
countries that allow advertising for pharmaceutical drugs on TV.

443
00:25:29.599 --> 00:25:31.839
My father was a law My father was a fourth

444
00:25:31.880 --> 00:25:34.559
generational lawyer, and he said, when lawyers are given the

445
00:25:34.640 --> 00:25:36.799
right to advertise, that's going to be the end of

446
00:25:36.799 --> 00:25:39.720
the civilized world. And there you go.

447
00:25:40.319 --> 00:25:43.119
Well, all of our billboards and buses are definitely taking up.

448
00:25:45.160 --> 00:25:48.799
Well, considering it's illegal to incite a lawsuit, and isn't

449
00:25:48.799 --> 00:25:50.599
that kind of what they're doing every day on the air.

450
00:25:50.880 --> 00:25:54.680
Never mind, do you have a problem? I think I

451
00:25:54.720 --> 00:25:58.559
think my father planted that seed pretty deep. Uh, there

452
00:25:58.599 --> 00:26:03.039
to uh the news. This past week was the Tucson Marathon,

453
00:26:03.720 --> 00:26:07.480
where our Todd Glick placed eleventh in the entire.

454
00:26:07.240 --> 00:26:09.920
Field, he got third in your age group.

455
00:26:09.799 --> 00:26:13.599
And our Dylan Greenberg had his best half marathon time.

456
00:26:14.279 --> 00:26:16.319
Ever sixteen miles until I crashed out.

457
00:26:16.640 --> 00:26:18.640
Well, we're not going to talk about that. I'm going

458
00:26:18.720 --> 00:26:20.319
to talk about that. I wasn't eve gonna go there.

459
00:26:20.359 --> 00:26:22.880
I was gonna say you did the half marathon seventeen

460
00:26:22.920 --> 00:26:25.319
minutes faster than you'd ever done it. I did, So

461
00:26:25.440 --> 00:26:28.279
there you go. I died. I'm not sure what these

462
00:26:28.279 --> 00:26:30.319
two are running from, but they're running from something. What

463
00:26:30.440 --> 00:26:31.240
he thinks about it.

464
00:26:31.200 --> 00:26:35.559
Demons got the Boston Marathon next year, looking forward to that.

465
00:26:35.960 --> 00:26:38.880
So yeah, I got Boston and Berlin, Germany next year

466
00:26:38.920 --> 00:26:40.599
for marathons. It would be a fun year.

467
00:26:41.200 --> 00:26:44.519
Pretty cool, Pretty cool. The commitment and the dedication that

468
00:26:44.599 --> 00:26:47.440
both of you have put into this is pretty incredible.

469
00:26:48.079 --> 00:26:52.200
The DAL had a ten day losing streak in last week.

470
00:26:52.559 --> 00:26:57.160
With a fifteen point rally on a Thursday ended the

471
00:26:57.200 --> 00:26:59.960
ten day losing streak, which is the longest losing streak,

472
00:27:00.200 --> 00:27:04.319
longest consecutive Lizary streak in fifty years exactly. So what

473
00:27:04.319 --> 00:27:06.880
does that tell you? Well, what it tells you is

474
00:27:06.920 --> 00:27:11.160
that the Dow is a market cap weighted index, and

475
00:27:11.319 --> 00:27:15.640
the most expensive stock in the Dow is United Healthcare,

476
00:27:16.000 --> 00:27:19.599
and it crashed after the shooting. It just simply lost

477
00:27:19.599 --> 00:27:21.799
twenty percent of its value, and that weight on the

478
00:27:21.839 --> 00:27:23.960
Dow every single day. So it's not like, oh man,

479
00:27:24.039 --> 00:27:27.359
this is really sending the signal. It's because of the

480
00:27:27.440 --> 00:27:28.000
United health.

481
00:27:28.359 --> 00:27:30.720
Yeah, but also we saw equal weighted S ANDP that

482
00:27:30.920 --> 00:27:34.839
was down almost eleven maybe twelve straight days until the

483
00:27:35.640 --> 00:27:38.799
Thursday rally, So you did see that the overall market

484
00:27:38.880 --> 00:27:42.240
was not doing as well as the top seven stocks.

485
00:27:41.920 --> 00:27:46.119
And pees are high. The market is richly priced, one

486
00:27:46.200 --> 00:27:50.599
might say, priced for perfection, right, and perfection is not

487
00:27:50.720 --> 00:27:55.720
something typically going to see rough. It was interesting because

488
00:27:55.759 --> 00:27:57.920
it was kind of a quiet week except for Wednesday

489
00:27:57.960 --> 00:28:01.440
and Friday. Wednesday was the announcement. Dean talked about it

490
00:28:01.519 --> 00:28:03.839
in his monologue where the Fed said they're going to

491
00:28:03.880 --> 00:28:05.880
lower race by a quarter. We all kind of wonder

492
00:28:05.920 --> 00:28:08.720
why that's happening. But then they said they may be

493
00:28:08.880 --> 00:28:11.559
done for a while, and the market did not like that,

494
00:28:11.640 --> 00:28:16.279
which is shocking since we've been talking about that for months.

495
00:28:14.960 --> 00:28:18.920
Yeh, yeah, that's what it came down soon, true, but

496
00:28:18.960 --> 00:28:21.880
it seems like they changed their narrative quite a bit.

497
00:28:21.960 --> 00:28:25.039
So it's something that you don't for five Yeah, well

498
00:28:25.079 --> 00:28:26.759
they went down. They said they're originally going to do

499
00:28:26.799 --> 00:28:29.079
four cuts next year for twenty twenty five and outs too,

500
00:28:29.799 --> 00:28:31.359
so that's what the markets didn't like. But I mean,

501
00:28:31.400 --> 00:28:33.400
they could come back out next year at any moment.

502
00:28:33.440 --> 00:28:34.640
And say we're going to actually do more.

503
00:28:35.279 --> 00:28:39.039
One of the biggest problems for the market historically has

504
00:28:39.079 --> 00:28:41.920
been interest rates. If you're in a period of rising

505
00:28:41.920 --> 00:28:45.400
interest rates, it makes it tough for stocks to gain ground.

506
00:28:46.440 --> 00:28:51.039
The rebound on Friday, which was dramatic, bounced eight hundred

507
00:28:51.079 --> 00:28:53.720
points after selling off eleven hundred points on the Dow

508
00:28:53.799 --> 00:28:58.920
on Wednesday, bounced eight hundred points on Friday, and even

509
00:28:58.960 --> 00:29:01.200
though interest rates it really didn't drop that much.

510
00:29:01.599 --> 00:29:04.279
I think you're exactly right. Ever, since the FED started

511
00:29:04.279 --> 00:29:06.960
their rate cutting cycle two meetings ago, where they did

512
00:29:06.960 --> 00:29:08.559
say there was going to be four rate cuts in

513
00:29:08.599 --> 00:29:11.559
twenty five, you know, rates were doing really well. The

514
00:29:11.599 --> 00:29:15.079
market had never really stopped its tear from there. All

515
00:29:15.119 --> 00:29:17.799
of a sudden, since that cut, rates have gone up

516
00:29:18.799 --> 00:29:22.640
full hundred basis points on the bond side. And what's

517
00:29:22.440 --> 00:29:24.920
that telling us is the bond market saying, no, you

518
00:29:24.920 --> 00:29:27.359
weren't going to get those rate cuts that everyone was expecting.

519
00:29:27.400 --> 00:29:29.599
They only had two. So the Fed kind of just

520
00:29:30.240 --> 00:29:33.240
reprice itself to what the market already thought. The bond market,

521
00:29:33.400 --> 00:29:36.000
but the stock market, you could see a huge divergence

522
00:29:36.039 --> 00:29:38.880
because normally the rates as they go higher, you see

523
00:29:38.920 --> 00:29:42.400
stock valuations go lower. But there wasn't that wasn't happening

524
00:29:42.440 --> 00:29:45.400
for this last month of trading. There was that there

525
00:29:45.480 --> 00:29:49.400
was this variance divergence that was occurring. So eventually we

526
00:29:49.480 --> 00:29:52.240
had to see the equity markets come to realization that

527
00:29:52.279 --> 00:29:54.400
the bond market was right. I mean, maybe the bond

528
00:29:54.400 --> 00:29:56.279
market was going to be wrong, right, but we saw

529
00:29:56.319 --> 00:29:59.359
this week that they were right. The Fed tailored to

530
00:29:59.400 --> 00:30:01.599
what the bond market it's been saying for several weeks,

531
00:30:01.599 --> 00:30:04.319
and then the equity markets just said, okay, well, we

532
00:30:04.359 --> 00:30:06.880
can't play this game anymore. We know it's reality. We're

533
00:30:06.880 --> 00:30:09.640
only getting two. We can't act like we're getting four anymore.

534
00:30:10.119 --> 00:30:12.279
And we said before, if there's a disagreement between the

535
00:30:12.319 --> 00:30:14.720
stock market and the bond market, you want to watch

536
00:30:14.759 --> 00:30:18.160
the bond market because it's three times the size of

537
00:30:18.240 --> 00:30:21.160
the stock market. Oh you're you're generally going to see

538
00:30:21.160 --> 00:30:24.039
that be a little bit more accurate than than stock.

539
00:30:24.119 --> 00:30:25.480
So it was a good harbinger, and.

540
00:30:25.400 --> 00:30:30.000
On Wednesday rates did not increase drastically. It was almost

541
00:30:30.039 --> 00:30:31.759
as if, yes, this is where you should have been.

542
00:30:32.680 --> 00:30:35.079
It is, and but I think the tenure, if I'm

543
00:30:35.079 --> 00:30:37.279
not mistaken, Todd got to the highest level I saw

544
00:30:37.359 --> 00:30:37.839
since May.

545
00:30:38.319 --> 00:30:40.640
Initially it's spiked, Yeah, the.

546
00:30:40.680 --> 00:30:44.599
Highest level since May. So the mortgage rates are going higher, which.

547
00:30:44.400 --> 00:30:47.519
Is especially on Thursday. Rates increased more the next day

548
00:30:47.559 --> 00:30:50.559
because of higher than expect the GDP came out and

549
00:30:50.680 --> 00:30:51.960
this Friday they came down again.

550
00:30:52.000 --> 00:30:54.279
But it was the biggest loser this week, the Russell

551
00:30:54.279 --> 00:30:57.000
two thousand, right, the small caps. Yeah, higher interest rates,

552
00:30:57.240 --> 00:30:59.079
smaller capitalized company.

553
00:30:59.079 --> 00:31:02.400
They got hit hard on day after after that came out.

554
00:31:02.279 --> 00:31:03.759
Plus four point eight percent on the week.

555
00:31:04.240 --> 00:31:06.680
Yeah, it was. It was interesting. Now going into next week,

556
00:31:06.680 --> 00:31:09.680
we've got an interesting week next week. Only a half

557
00:31:09.720 --> 00:31:12.960
a day of trading on Tuesday, no trading on Wednesday,

558
00:31:14.640 --> 00:31:18.359
very few economic reports, very little to move the market.

559
00:31:18.680 --> 00:31:20.759
The one thing that can happen, and we've seen that

560
00:31:20.839 --> 00:31:23.440
before though, is you're going to have very light volume

561
00:31:23.759 --> 00:31:26.880
and you can get some pretty dramatic moves when you

562
00:31:26.920 --> 00:31:29.119
have a light volume. If someone gets in there and

563
00:31:29.160 --> 00:31:30.880
decides they want to move it one way or the other,

564
00:31:31.039 --> 00:31:33.680
you can you can move it pretty dramatically with light volume.

565
00:31:33.440 --> 00:31:35.880
Especially with all the leverage products that are available to

566
00:31:35.920 --> 00:31:38.960
people these days. Leverage just increases volume, and if you

567
00:31:38.960 --> 00:31:41.079
have a lack of volume on a certain day, you

568
00:31:41.079 --> 00:31:43.039
could really push a market one way or the other

569
00:31:43.480 --> 00:31:44.799
if one side takes.

570
00:31:46.480 --> 00:31:51.519
Yeah. Traditionally the Christmas week is quiet, light volume, not

571
00:31:51.599 --> 00:31:52.440
a lot of fluctuation.

572
00:31:52.599 --> 00:31:55.119
It is an interesting year though, because Christmas just middle

573
00:31:55.119 --> 00:31:57.079
of the week, so you could we got two full

574
00:31:57.160 --> 00:32:00.480
days Thursday and Friday might be more volume that day.

575
00:32:00.519 --> 00:32:02.519
It is all right well because also, I mean then

576
00:32:02.640 --> 00:32:04.240
New Year's is the next day. You got two days

577
00:32:04.240 --> 00:32:06.559
that week and the year's over. So I was looking

578
00:32:06.759 --> 00:32:08.079
day as a trade. Well, five and a half days

579
00:32:08.079 --> 00:32:08.759
the trading left in.

580
00:32:08.759 --> 00:32:10.839
The yearly right. I was looking at the bowl games

581
00:32:10.839 --> 00:32:12.680
the other day. I was talking to my wife and

582
00:32:12.680 --> 00:32:14.839
I said, there's a Bowl It's a great time of

583
00:32:14.839 --> 00:32:16.640
the year for your a football fan. There's a bowl

584
00:32:16.680 --> 00:32:20.079
game every single day for the next three weeks. I said,

585
00:32:20.279 --> 00:32:24.359
except next Wednesday. She goes, it's Christmas game. You got

586
00:32:24.480 --> 00:32:27.440
NFL Day. You do have NFL great which speaking of

587
00:32:27.480 --> 00:32:31.279
that's on Netflix exclusively. Ye are the games both on Netflix.

588
00:32:31.279 --> 00:32:33.559
Both games are on Netflix. So Netflix is really getting

589
00:32:33.559 --> 00:32:37.079
into live sports. They started with the Paul Tyson fight

590
00:32:37.599 --> 00:32:40.799
earlier this year. They got the NFL games on Christmas Day,

591
00:32:40.920 --> 00:32:44.319
and then they just got the rights to the Women's

592
00:32:44.359 --> 00:32:45.680
World Cup for the next World Cup in the one

593
00:32:45.680 --> 00:32:46.440
of twenty thirty one.

594
00:32:46.880 --> 00:32:50.279
Christmas Day has always been the exclusive territory of the NBA.

595
00:32:51.279 --> 00:32:53.640
They always have five games on Christmas Day. That's kind

596
00:32:53.640 --> 00:32:56.240
of almost their kicking off the season, even though they've

597
00:32:56.319 --> 00:32:58.319
been playing for a couple of months. That's kind of

598
00:32:58.319 --> 00:33:01.079
the official start to the NBA sea is Christmas Day.

599
00:33:01.279 --> 00:33:06.359
I wonder what they think about having two NFL games, King, Yeah, yeah,

600
00:33:06.880 --> 00:33:09.839
I mean, you're gonna watch NBA if NFL is on, well,

601
00:33:09.839 --> 00:33:12.200
if you're an NBA fan, Yeah, but no, I'm probably not.

602
00:33:12.880 --> 00:33:15.920
But I would watch NBA on Christmas Day when NFL

603
00:33:16.000 --> 00:33:16.880
wasn't ONFL.

604
00:33:16.960 --> 00:33:19.400
Absolutely, we all, we all would. But I'm watching the

605
00:33:19.440 --> 00:33:21.200
NFL for sure. This is the first I don't think

606
00:33:21.200 --> 00:33:24.559
there's ever been an NFL game on Christmas Day. That's

607
00:33:24.599 --> 00:33:28.000
Christmas Day was Sunday, that's I think. Wait, no, I

608
00:33:28.039 --> 00:33:30.200
think last year there was might have been. It was

609
00:33:30.240 --> 00:33:30.720
like the first year.

610
00:33:30.759 --> 00:33:33.880
It's a new thing, but it's it's interesting with the Netflix.

611
00:33:33.920 --> 00:33:36.599
I mean, they're trying to get into the live sporting world.

612
00:33:37.200 --> 00:33:39.039
It's completely new. I mean, they had one hundred and

613
00:33:39.079 --> 00:33:40.559
eight million people watched that Tyson fight.

614
00:33:40.759 --> 00:33:42.759
Yeah, when we were when the Tyson Fight came on,

615
00:33:42.920 --> 00:33:45.440
we talked about on the show how Jerry Jones gave

616
00:33:45.440 --> 00:33:49.880
an interview during the event and said, we're very excited

617
00:33:49.880 --> 00:33:52.839
about the future of NFL Netflix working together and Jerry

618
00:33:52.920 --> 00:33:56.000
Jones is the most influential owner in the NFL. Yeah,

619
00:33:56.039 --> 00:33:58.599
so there was definitely setting the stage for what's to come.

620
00:33:58.640 --> 00:33:59.960
To be able to make vacation ship.

621
00:34:00.000 --> 00:34:02.400
People gonna join Netflix because like you have on Thursday

622
00:34:02.480 --> 00:34:04.359
Night Football, if you're a huge football fan, you have

623
00:34:04.400 --> 00:34:06.640
to have Amazon Prime, you have to have Peacock, you

624
00:34:06.720 --> 00:34:09.159
have to have a lot of the streaming services. So

625
00:34:09.199 --> 00:34:11.320
non Netflix is into the live two hundred and eighty

626
00:34:11.320 --> 00:34:12.679
two million subscribers.

627
00:34:12.719 --> 00:34:15.320
Think it could really help, really help the global adoption

628
00:34:15.400 --> 00:34:16.079
of football.

629
00:34:16.159 --> 00:34:18.440
Well, I mean if they got the Women's World Cup rights,

630
00:34:18.440 --> 00:34:20.360
and then if they somehow get the men's World Cup rights,

631
00:34:20.360 --> 00:34:21.599
it's gonna exploit it too.

632
00:34:21.599 --> 00:34:24.360
So they're really getting into the live. Gonna be interesting.

633
00:34:24.679 --> 00:34:27.639
How does that work then on Netflix? When there's a

634
00:34:27.719 --> 00:34:30.000
break in the action, what do you mean a break?

635
00:34:30.000 --> 00:34:31.440
Oh, like a commercial time out?

636
00:34:31.559 --> 00:34:34.320
Yeah, time out? We would go to commercial, Right, it's.

637
00:34:34.159 --> 00:34:36.199
Probably gonna be like red Zone where they havn't like

638
00:34:36.239 --> 00:34:39.800
a constant guy in the background talking.

639
00:34:40.280 --> 00:34:43.119
Yeah, or they do just have ads, and that's an experis.

640
00:34:44.480 --> 00:34:47.960
I mean, but if if you're already, if if a

641
00:34:48.000 --> 00:34:51.119
sporting team is already used to having these breaks, they're

642
00:34:51.119 --> 00:34:52.880
not gonna just all of a sudden get rid of them.

643
00:34:53.079 --> 00:34:54.480
Oh no, they're gonna have the break.

644
00:34:54.400 --> 00:34:57.800
Right, So if they're gonna have the breaks anyways, who cares?

645
00:34:58.079 --> 00:35:00.159
I mean, would would you really want to watch a

646
00:35:00.239 --> 00:35:02.960
live stream of some no action going on?

647
00:35:03.840 --> 00:35:06.760
Yeah? Watched, like said, there has to be somebody talking.

648
00:35:06.800 --> 00:35:10.840
But the Netflix with commercials, that's a whole different service.

649
00:35:10.920 --> 00:35:13.000
That's a much cheaper. Yeah, I know.

650
00:35:13.039 --> 00:35:16.280
But in terms of live sports as a different it's

651
00:35:16.320 --> 00:35:18.360
like live sports and pay per view. That's two different things.

652
00:35:18.400 --> 00:35:19.320
I get what you're saying about.

653
00:35:19.320 --> 00:35:21.239
I think I still think Netflix will find a way

654
00:35:21.280 --> 00:35:23.800
not to have commercials with a non ad supported subscription.

655
00:35:24.199 --> 00:35:25.679
Well, I guess we're gonna find out.

656
00:35:25.960 --> 00:35:29.159
Yeah, I mean, because pay per view, that's that's what

657
00:35:29.199 --> 00:35:31.360
the Tyson fight was. There was no commercials. There was

658
00:35:31.400 --> 00:35:34.480
just a straight seat through kind of like how the

659
00:35:34.480 --> 00:35:37.840
the the roast was for Tom Brady.

660
00:35:37.840 --> 00:35:39.519
I didn't watch the Tyson fight, but I heard that

661
00:35:39.559 --> 00:35:42.320
it was like just buffering a ton, Like, is it

662
00:35:42.360 --> 00:35:43.599
gonna be able to withstand that?

663
00:35:43.679 --> 00:35:46.320
Many people talk about it? After this break, We're coming

664
00:35:46.360 --> 00:35:48.159
upon a break and we'll be back with the next

665
00:35:48.159 --> 00:35:50.239
segment of The Money Matter Show. Thanks again for listening.

666
00:35:51.159 --> 00:35:53.039
Welcome back to The Money Matter Show. My name is

667
00:35:53.079 --> 00:35:55.599
Todd Glick. I'm here with Sebastian Boards, seeing Dylan Greenberg

668
00:35:55.719 --> 00:35:58.800
and Dave David Sherwood. We were talking a little bit

669
00:35:58.800 --> 00:36:01.960
about Netflix before the end of last break, about how

670
00:36:02.440 --> 00:36:06.199
SeaBASS had the question of buffering with that I personally

671
00:36:06.280 --> 00:36:08.760
saw maybe like two different instances during the Tyson fight.

672
00:36:08.800 --> 00:36:12.440
We're a buffer, but ultimately, yeah, as Internet gets better,

673
00:36:12.519 --> 00:36:12.920
I'm not.

674
00:36:13.000 --> 00:36:14.480
So you didn't think it was too bad on the

675
00:36:14.519 --> 00:36:16.800
Tyson fight because I heard a lot of complaining about it. No.

676
00:36:16.920 --> 00:36:20.519
I literally used an illegal site that streamed Netflix and

677
00:36:20.559 --> 00:36:21.199
it worked fine.

678
00:36:22.440 --> 00:36:23.920
Yeah, But if we were talking in the break too,

679
00:36:24.199 --> 00:36:26.239
it's just kind of comes with it. Amazon Prime took

680
00:36:26.280 --> 00:36:29.119
over Thursday Night Football and there was a bunch of

681
00:36:29.159 --> 00:36:31.559
issues with it when it first started, and that was fine.

682
00:36:32.159 --> 00:36:34.480
That reminds me of the Facebook post I saw last week,

683
00:36:34.519 --> 00:36:37.519
I think you guys where it said I'm really concerned

684
00:36:37.519 --> 00:36:39.559
about Trump coming and around you at my mother who's

685
00:36:39.559 --> 00:36:44.480
here illegally. Her address is my mother in law? Was

686
00:36:44.519 --> 00:36:46.519
my mother in law in law address is?

687
00:36:46.760 --> 00:36:48.519
I think something to point out this week is the

688
00:36:48.559 --> 00:36:52.440
ten two year spread got deeper, which shows that the

689
00:36:52.440 --> 00:36:55.920
economy is strong. The GDP report that came out on

690
00:36:55.960 --> 00:37:00.960
Thursday was way higher than expectations. We're doing room, really,

691
00:37:01.000 --> 00:37:03.599
really well in terms of the economy, and I think

692
00:37:03.679 --> 00:37:08.119
that's why stock valuations have kept so high for a while.

693
00:37:08.360 --> 00:37:11.320
The earnings have been good, yes, you know, and you're

694
00:37:11.360 --> 00:37:15.000
seeing that again with the GDP report for quarter quarter three.

695
00:37:15.079 --> 00:37:19.039
So I think the expectations is the Fed had to

696
00:37:19.079 --> 00:37:23.199
realize the economy isn't slowing down. Here the labor market, yes,

697
00:37:23.199 --> 00:37:25.400
it's cooling off, but it's cooling off at a very

698
00:37:25.440 --> 00:37:29.239
slow pace. Inflation, it's a little more sticky than they expected.

699
00:37:29.280 --> 00:37:32.159
But you do have a slow down in housing and

700
00:37:32.199 --> 00:37:34.480
that's going to show itself in the next couple months

701
00:37:34.480 --> 00:37:37.320
with inflation numbers as they get reported, because we know

702
00:37:37.360 --> 00:37:40.119
there's a little bit of a lag there. So that

703
00:37:40.480 --> 00:37:42.639
I think gives them a little bit of a cushion

704
00:37:42.960 --> 00:37:45.400
to do this rate cut, but then hold until maybe

705
00:37:45.480 --> 00:37:47.599
the March April and reassess at that time.

706
00:37:47.880 --> 00:37:50.800
Yeah, well, you've said before that there's a four to

707
00:37:50.840 --> 00:37:53.480
six month lag in housing, and we know that housing

708
00:37:53.599 --> 00:37:55.800
is softer and you have to show it up yet,

709
00:37:55.880 --> 00:37:58.079
so I think you're spot on. It's been a couple

710
00:37:58.199 --> 00:38:02.559
months of softness and we don't see any indication of that,

711
00:38:02.599 --> 00:38:04.119
so I think that you have to come right.

712
00:38:04.159 --> 00:38:06.519
But then this week, though, did you see at least

713
00:38:06.559 --> 00:38:09.400
the existing home sales report did actually get a little

714
00:38:09.400 --> 00:38:11.400
bit of a bounce up, and they do kind of

715
00:38:11.559 --> 00:38:13.719
gyrate like that, so I got to see if it

716
00:38:13.719 --> 00:38:14.480
contains I think.

717
00:38:14.360 --> 00:38:17.800
That's I think that's natural because there weren't any existing

718
00:38:17.840 --> 00:38:21.039
homes for sale a year ago, so that that is

719
00:38:21.039 --> 00:38:21.639
a higher note.

720
00:38:21.679 --> 00:38:23.400
Well, I thought it was a month over month, but.

721
00:38:24.840 --> 00:38:26.840
That wouldn't surprise me either, because you're seeing more and

722
00:38:26.880 --> 00:38:29.840
more houses coming on the market every single month and

723
00:38:29.920 --> 00:38:32.960
I'm not seeing any soul signs. And I'm not a realtor.

724
00:38:33.000 --> 00:38:36.119
I don't have realtors living with me, so I'm not

725
00:38:36.159 --> 00:38:38.760
an expert on this. But what I can tell you

726
00:38:38.880 --> 00:38:41.480
is that my friends who are working in retail have

727
00:38:41.679 --> 00:38:45.440
are so busy. Remember Target and Walmart a couple of

728
00:38:45.480 --> 00:38:47.880
months ago said they were cutting the amount of product

729
00:38:47.920 --> 00:38:51.199
that they ordered for Christmas because of the short time

730
00:38:51.360 --> 00:38:54.440
from Thanksgiving Thanksgiving being as late as it can possibly

731
00:38:54.480 --> 00:38:58.599
be right to twenty eighth, that they actually didn't expect

732
00:38:58.639 --> 00:39:01.880
Christmas to be that And my friends who work in

733
00:39:01.880 --> 00:39:06.519
retail are saying, it's just blockbusters out there. I don't know,

734
00:39:07.639 --> 00:39:12.079
We'll have to see. Starbucks got a little in the

735
00:39:12.119 --> 00:39:15.159
news to this week. Of course, Brian Nichols from Chipoli

736
00:39:15.599 --> 00:39:19.079
became the CEO, which immediately caused a stock to spike

737
00:39:19.119 --> 00:39:24.880
about and it's been hanging in there until this week

738
00:39:26.000 --> 00:39:28.280
as about twelve percent now off of the high. And

739
00:39:28.760 --> 00:39:31.239
I said, it is the honeymoon over for Brian Nichols.

740
00:39:31.840 --> 00:39:35.800
Ninety eight percent of Starbucks employees voted to strike if

741
00:39:35.840 --> 00:39:39.239
contract negotiations broke down. And three of the stores and

742
00:39:39.280 --> 00:39:41.239
I couldn't really find a reason for this, but three

743
00:39:41.239 --> 00:39:45.320
of the stores have actually gone on strike. They have about.

744
00:39:46.719 --> 00:39:48.679
You couldn't find a reason for why they went on strike.

745
00:39:48.880 --> 00:39:53.000
Why those three stores just randomly went on strike. But

746
00:39:53.440 --> 00:39:55.559
this is the stock is currently the lowest oft been

747
00:39:55.679 --> 00:39:59.639
since Nichols took over. It jumped from I'm trying to

748
00:39:59.639 --> 00:40:02.639
think of around seventy jumped up to maybe ninety five

749
00:40:02.679 --> 00:40:05.199
to one hundred. Now we're back in the mid eighties.

750
00:40:06.360 --> 00:40:08.840
Another one that had a little reality check this week

751
00:40:08.960 --> 00:40:13.320
was Tesla. You know, Tesla nearly doubled since the presidential election.

752
00:40:13.400 --> 00:40:15.519
We're all sitting there, scratcher has going what and the

753
00:40:15.559 --> 00:40:19.000
heck is going on? Tesla is not Musk, you know,

754
00:40:19.719 --> 00:40:25.679
t SLA symbol is not Musk. Musk is involved in Tesla. Obviously,

755
00:40:26.199 --> 00:40:28.599
he's involved in a lot of other things. So if

756
00:40:28.639 --> 00:40:31.760
you think that President Trump is really going to reward

757
00:40:32.000 --> 00:40:36.239
Elon Musk for all of his support, Tesla may or

758
00:40:36.280 --> 00:40:37.480
may not be the way to play it.

759
00:40:38.000 --> 00:40:39.960
Yeah, And I mean that stock is just so vital

760
00:40:40.000 --> 00:40:43.760
to the one down day we had. It dropped for

761
00:40:43.760 --> 00:40:46.559
forty points. Yeah, but it's still at four to forty

762
00:40:46.599 --> 00:40:47.400
one before the election.

763
00:40:47.559 --> 00:40:49.920
Was that like two one. The wild part about that

764
00:40:50.039 --> 00:40:55.679
is miss Misszoo, which is an Asian money manager who's

765
00:40:55.679 --> 00:40:58.639
active in the United States. They decided to take the

766
00:40:58.679 --> 00:41:02.320
stock from a hold to a saying the Tesla should

767
00:41:02.360 --> 00:41:08.280
benefit from expected regulatory changes. Stock then drop ten percent

768
00:41:08.280 --> 00:41:12.320
the next day, drop ten percent the next day, Like okay,

769
00:41:12.400 --> 00:41:14.519
you really think that's where we want to be. I

770
00:41:14.880 --> 00:41:19.800
just I'm always perplexed at analysts to have a stock

771
00:41:19.840 --> 00:41:22.719
as a hold and then it doubles and they go

772
00:41:22.840 --> 00:41:26.199
from hold to buy. That's to me, it's just like

773
00:41:26.639 --> 00:41:29.119
that's a foma always they got.

774
00:41:29.400 --> 00:41:31.639
Sometimes they have price targets that stocks, say the stocks

775
00:41:31.599 --> 00:41:33.880
at five hundred dollars a share, their price target was

776
00:41:33.920 --> 00:41:36.400
at two hundred dollars for a long time. And then

777
00:41:36.440 --> 00:41:38.360
they say, I got a price target increase to two

778
00:41:38.440 --> 00:41:39.079
fifty a share.

779
00:41:39.239 --> 00:41:41.360
Yeah, no you see, Oh thanks, yeah it's to five hundred,

780
00:41:41.360 --> 00:41:43.159
but thank you five herd dollars stock. But now the

781
00:41:43.159 --> 00:41:44.360
price target's two fifty.

782
00:41:44.559 --> 00:41:47.800
Yeah, we saw this week anything that had a lot

783
00:41:47.840 --> 00:41:50.880
of risk. And another way to measure risk for people

784
00:41:50.880 --> 00:41:54.440
who don't know this term, it's called beta. Beta refers

785
00:41:54.480 --> 00:41:58.480
to a stocks or any asset class movement to the

786
00:41:58.559 --> 00:42:01.760
broad stock market. So the stock market went one percent higher,

787
00:42:02.000 --> 00:42:03.960
and you have a beta of two, you would expect

788
00:42:03.960 --> 00:42:06.679
the stock that you're that has the beta of two

789
00:42:06.760 --> 00:42:08.360
go up two percent. If the market goes up one

790
00:42:08.400 --> 00:42:11.559
percent and so high beta stocks were the ones that

791
00:42:11.639 --> 00:42:13.039
went down the most this week.

792
00:42:13.719 --> 00:42:16.519
And we saw that in bitcoin, right, anything.

793
00:42:16.159 --> 00:42:21.159
That had a lot of volatility embedded into its asset,

794
00:42:21.760 --> 00:42:23.760
it was going to go down big this week because

795
00:42:23.800 --> 00:42:26.960
there was a lot of selling, and that selling exacerbates itself.

796
00:42:27.119 --> 00:42:29.400
We saw it in bitcoin, I mean, we saw it

797
00:42:29.639 --> 00:42:33.840
in the nuclear spaces. We saw it in even VRT,

798
00:42:34.000 --> 00:42:35.719
which we've been talking about is one of the best

799
00:42:35.760 --> 00:42:38.679
stocks of the last year because of the cooling for

800
00:42:38.719 --> 00:42:41.320
the for the they also got hit hard off their

801
00:42:41.320 --> 00:42:44.280
all time high. So anything like that, I think another

802
00:42:44.440 --> 00:42:48.559
interesting story, and this is with what we had last

803
00:42:48.559 --> 00:42:51.039
week of the Google quantum chip coming out and all

804
00:42:51.079 --> 00:42:53.760
the buzz about quantum and all what could be and

805
00:42:53.800 --> 00:42:56.760
what people need to realize Quantum is still very very

806
00:42:56.760 --> 00:42:59.199
far away, I mean at minimum three years away and

807
00:42:59.280 --> 00:43:02.239
the technology that's that's a long time, long time, and

808
00:43:02.599 --> 00:43:05.000
it's likely more like five to seven years before any

809
00:43:05.039 --> 00:43:07.960
actual practical use is going to be able to be

810
00:43:08.199 --> 00:43:10.960
found upon it. So these we've seen a couple of

811
00:43:11.000 --> 00:43:14.280
companies now with the word quantum embedded, and the Sea

812
00:43:14.320 --> 00:43:18.440
Bass talked about this with Quantum Energy drink that you know,

813
00:43:18.639 --> 00:43:22.239
went up almost tenfold, one thousand percent. I went up

814
00:43:22.960 --> 00:43:25.119
just because they changed their name to Quantum Energy really,

815
00:43:25.119 --> 00:43:29.400
but they're so energy drinks. And so there's a couple, Yeah,

816
00:43:29.400 --> 00:43:31.320
there's a couple of other quantum companies that I looked

817
00:43:31.360 --> 00:43:33.519
at who had you know, thirty nine employees. That was

818
00:43:33.599 --> 00:43:36.519
up two thousand percent. One other has two hundred employees,

819
00:43:36.599 --> 00:43:38.679
is up you know, five hundred. There's a and then

820
00:43:38.679 --> 00:43:40.840
none of them are making money, like zero dollars in revenue,

821
00:43:40.880 --> 00:43:43.719
and they're actually losing money, so you know, zero dollars

822
00:43:43.760 --> 00:43:48.320
in revenue, absolutely none. And we talked about this also

823
00:43:48.320 --> 00:43:50.760
a couple of months ago with the Trumps. You know,

824
00:43:51.800 --> 00:43:54.440
I don't even remember the name of it anymore. True

825
00:43:54.440 --> 00:43:58.199
social yeah, social right, And that was you're trying to

826
00:43:58.199 --> 00:43:59.840
buy this because it has the buzzwords.

827
00:44:00.000 --> 00:44:04.119
Here's a better analogy, uranium, right, small modular reactors, all

828
00:44:04.119 --> 00:44:06.559
those oakload they were going crazy about a month or

829
00:44:06.559 --> 00:44:09.079
two ago. Why because right, But in terms I'm like,

830
00:44:09.079 --> 00:44:11.480
I'm going to start using them. We're still far from

831
00:44:11.559 --> 00:44:12.480
practicality of.

832
00:44:12.440 --> 00:44:17.599
This, yes, right, oaklow has actual like yeah, EPA approvals

833
00:44:17.599 --> 00:44:20.760
to get started on projects. We're talking about theory still

834
00:44:20.800 --> 00:44:24.480
in quantum in quantum wantum st it's literally theory. I

835
00:44:24.519 --> 00:44:27.079
mean what they did with Google last week was just

836
00:44:27.159 --> 00:44:30.280
being able to solve a computational error, right that no

837
00:44:30.400 --> 00:44:32.679
other computer was able to do it. That's not actually

838
00:44:32.960 --> 00:44:36.519
used thing that doesn't do anything for anyone except for really,

839
00:44:36.719 --> 00:44:38.519
you know, maybe the geeks that know what that means.

840
00:44:38.800 --> 00:44:41.840
Well. I mean there's a difference between investing and speculating.

841
00:44:42.480 --> 00:44:44.639
I mean that if you want to speculate one of

842
00:44:44.639 --> 00:44:48.039
these like like you mentioned quantum energy, right, why would

843
00:44:48.039 --> 00:44:50.280
a person jump into that While they jump into that

844
00:44:50.320 --> 00:44:53.480
in hopes they could make ten cents thirty cents on

845
00:44:53.559 --> 00:44:56.079
ten thousand shares and get out. I mean, that's that's

846
00:44:56.119 --> 00:44:58.840
the only reason. So be careful with those because they

847
00:44:58.920 --> 00:45:00.920
run up and they come back down just as fast

848
00:45:00.960 --> 00:45:01.639
as you see it.

849
00:45:01.760 --> 00:45:04.199
You saw it with the crypto coins. You know, you'd

850
00:45:04.199 --> 00:45:07.920
have fart coin, you'd have pepegg yep you know, yeah,

851
00:45:08.039 --> 00:45:11.679
or Peanut the squirrel, you know, yeah, all kinds of

852
00:45:12.039 --> 00:45:15.440
and there's no there's nothing in that, you know. It's

853
00:45:15.480 --> 00:45:17.440
like you said, it's just someone trying to make a buck.

854
00:45:17.480 --> 00:45:20.440
And you can have the same thing in stocks just

855
00:45:20.440 --> 00:45:22.440
because it's in the stock market. Doesn't mean and it's regular.

856
00:45:22.480 --> 00:45:25.079
It doesn't mean it's like safe. Everything has risk.

857
00:45:25.239 --> 00:45:27.400
Know who you are as an investor, right, yeah, Know

858
00:45:27.440 --> 00:45:30.840
who you are as an investor. If you're a speculative

859
00:45:30.920 --> 00:45:33.599
day trader sitting in front of your computer trying to

860
00:45:33.639 --> 00:45:36.960
grab ten twenty thirty cents on ten thousand shares, that's fine,

861
00:45:37.239 --> 00:45:41.079
that's who you are. If you're a eighty two year

862
00:45:41.119 --> 00:45:45.960
old retired person with sufficient assets to live comfortably, you

863
00:45:46.079 --> 00:45:48.320
probably don't wanted to put twenty five percent of your

864
00:45:48.360 --> 00:45:49.360
assets in bitcoin.

865
00:45:49.639 --> 00:45:52.559
But it's these type of examples that confuse people about

866
00:45:52.559 --> 00:45:55.360
what the stock market is because when you talk about

867
00:45:55.400 --> 00:45:57.360
what the stock market is, it's it's something that should

868
00:45:57.360 --> 00:46:00.159
grow around eight percent to ten percent on average. Right,

869
00:46:00.239 --> 00:46:02.000
It's not something that's going to double in a year.

870
00:46:02.159 --> 00:46:04.079
So you have those people that come to you and say,

871
00:46:04.199 --> 00:46:05.960
you know, what can you do with my money? Or

872
00:46:06.000 --> 00:46:07.960
how quick can you double? It?

873
00:46:07.719 --> 00:46:07.760
Is?

874
00:46:08.039 --> 00:46:09.920
You should never have that idea in your head when

875
00:46:09.920 --> 00:46:12.480
you're investing. That should always be for the long term.

876
00:46:12.719 --> 00:46:15.000
If you're approaching the market as a casino, you don't

877
00:46:15.079 --> 00:46:16.559
need us. Yeah, go to Vegas.

878
00:46:16.599 --> 00:46:18.679
That's something you do at home, and you can go

879
00:46:18.760 --> 00:46:21.960
online and do it yourself, and that's not what we do, right,

880
00:46:22.639 --> 00:46:25.679
and do you find it? Oftentimes people who have been

881
00:46:25.880 --> 00:46:29.880
big real estate investors view the stock market as a casino,

882
00:46:30.679 --> 00:46:36.440
and stock market investors view real estate as boring. You're

883
00:46:36.480 --> 00:46:38.599
generally one or the other. You don't find too many

884
00:46:38.639 --> 00:46:40.599
real estate people that have stock. You don't find too

885
00:46:40.639 --> 00:46:42.480
many stock people that have a lot of real estate,

886
00:46:43.119 --> 00:46:48.679
because it's just a totally different mindset. And both of

887
00:46:48.719 --> 00:46:54.360
them are outstanding ways to accumulate wealth. They're just completely different.

888
00:46:54.920 --> 00:46:57.880
And you don't look across the aisle and say, oh, yeah,

889
00:46:58.360 --> 00:47:01.400
I think I've got seven rental Holmes. Now I'm gonna

890
00:47:01.400 --> 00:47:03.639
take this one hundred thousand dollars I just got from

891
00:47:03.960 --> 00:47:06.599
selling one of them and put it in bitcoins. That

892
00:47:06.639 --> 00:47:12.079
doesn't generally happen. You are either either on one side

893
00:47:12.159 --> 00:47:14.960
or of the fence or the other. We're coming up

894
00:47:15.000 --> 00:47:17.039
on a hard break here. We'll be back with the

895
00:47:17.119 --> 00:47:20.119
second half of the Money Meta Show after this break.

896
00:47:20.440 --> 00:47:22.280
We thank you again for taking time out of what

897
00:47:22.440 --> 00:47:25.840
is another gorgeous Sunday morning to listen to us on

898
00:47:25.880 --> 00:47:28.079
the Money Metter Show. This weather's been unbelievable.

899
00:47:28.559 --> 00:47:31.119
Be right back welcome back. You're listening to the Money

900
00:47:31.159 --> 00:47:33.039
Matters Show. My name is Dylan Greenberg. I'm here with

901
00:47:33.039 --> 00:47:35.840
Todd Glick, Sebastian board Seeing, Dave Sherwood, and Dean Greenberg.

902
00:47:36.119 --> 00:47:38.599
We'll listen to the second hour if you're just tuning in.

903
00:47:38.880 --> 00:47:40.920
Last week, the Dow was down two point three percent,

904
00:47:40.960 --> 00:47:42.960
the S and P five hundred was down two percent,

905
00:47:43.239 --> 00:47:45.800
the NASDAK was down one point eight percent, Russell two

906
00:47:45.840 --> 00:47:48.440
thousand was down four point eight percent, and the RSP

907
00:47:48.880 --> 00:47:52.280
was down three percent, So negative week. Overall, the small caps,

908
00:47:52.280 --> 00:47:54.239
which is the Russell two thousand, got hit the hardest,

909
00:47:54.440 --> 00:47:56.880
but overall you're to date with six trading days left

910
00:47:56.880 --> 00:48:00.239
in the year, the Dow is up thirteen point seven sent,

911
00:48:00.280 --> 00:48:02.760
the SMP is up twenty four point four percent, the

912
00:48:02.840 --> 00:48:05.960
Nasdaq is up thirty percent, the Rustle two thousand is

913
00:48:06.039 --> 00:48:07.840
up ten and a half percent, and the RSP is

914
00:48:07.920 --> 00:48:10.559
up twelve percent. So you can see the S and

915
00:48:10.599 --> 00:48:13.480
P five hundred has doubled, the equal weighted SMP five hundred,

916
00:48:13.760 --> 00:48:15.559
and the NAZAK is up thirty percent. So that makes

917
00:48:15.599 --> 00:48:18.199
it think, okay, that's the big tech stocks in SMP

918
00:48:18.760 --> 00:48:20.800
are the ones carrying it like we've been saying for

919
00:48:20.840 --> 00:48:24.119
the last two years now and it continues to be

920
00:48:24.159 --> 00:48:27.119
that way. But you can't see people get skittish if

921
00:48:27.119 --> 00:48:27.920
they'll start to drop.

922
00:48:28.480 --> 00:48:31.400
Coming into the year, we are thinking was that value

923
00:48:31.440 --> 00:48:35.719
stocks would outperform gross stocks, and they have not. They've

924
00:48:35.760 --> 00:48:38.519
done well, well, that's the interesting have done well. They've

925
00:48:38.559 --> 00:48:40.960
done way better than they did the in twenty.

926
00:48:40.800 --> 00:48:42.840
And also, Dave, I think value has actually done better

927
00:48:42.880 --> 00:48:43.679
than equal weighted.

928
00:48:44.440 --> 00:48:47.000
Probably they've done better than the equal weighted So when

929
00:48:47.039 --> 00:48:47.360
you look.

930
00:48:47.280 --> 00:48:49.079
At ego way to you, you know, it kind of

931
00:48:49.119 --> 00:48:52.440
exkews it. I think value is up round seventeen.

932
00:48:52.840 --> 00:48:56.119
Yes, that's a very good point, Todd. Yeah, value has

933
00:48:56.159 --> 00:48:58.719
done better than the equal weighted S and P five hundred.

934
00:48:58.800 --> 00:49:03.280
So so maybe we were right kind of maybe.

935
00:49:03.400 --> 00:49:04.719
I don't know. I don't know about that. I think

936
00:49:04.760 --> 00:49:07.840
the S and P is still going to outrun us.

937
00:49:07.880 --> 00:49:09.639
Like the text Dooks just killed it, you know.

938
00:49:09.719 --> 00:49:11.960
I think what's interesting is next week we kind of

939
00:49:12.000 --> 00:49:13.360
have the end of the year. I don't think we'll

940
00:49:13.400 --> 00:49:16.559
do our end of the year podcast then maybe the

941
00:49:16.599 --> 00:49:18.480
following week. That way, we actually have end of the

942
00:49:18.559 --> 00:49:21.679
year numbers. But uh, we have a lot of new

943
00:49:21.719 --> 00:49:24.559
content that we just created. We went and recorded six

944
00:49:24.639 --> 00:49:27.400
new TV shows. They're going to be released each and

945
00:49:27.440 --> 00:49:31.199
every Sunday on KVOA in the mornings after Meet the

946
00:49:31.199 --> 00:49:34.199
Press as well as at night after the ten o'clock news.

947
00:49:35.039 --> 00:49:37.159
Last week Dean got a new show. This week, Dean

948
00:49:37.320 --> 00:49:40.000
and Dylan will be on, and each and every week

949
00:49:40.119 --> 00:49:42.639
you'll see the new ones on. I'll filter them through.

950
00:49:43.000 --> 00:49:46.039
Sebastian's also posting them onto the YouTube page, so if

951
00:49:46.079 --> 00:49:49.079
you're not able to catch it on the KVOA at

952
00:49:49.119 --> 00:49:51.199
the time it airs, you can go to the YouTube page.

953
00:49:51.440 --> 00:49:54.440
He'll be releasing them as they come out. And we

954
00:49:54.480 --> 00:49:56.440
also always have our podcast that you can listen to.

955
00:49:56.480 --> 00:49:59.000
If you miss the radio, you just go to our website.

956
00:49:59.000 --> 00:50:00.960
We have a pod page and it connects you all

957
00:50:01.000 --> 00:50:07.440
to our different podcast services. You could be listening to iHeart, Google, Apple, anything.

958
00:50:08.239 --> 00:50:11.360
We also do a lot of content on our Facebook page,

959
00:50:11.360 --> 00:50:13.480
so if you want to stay up today on stuff

960
00:50:13.480 --> 00:50:17.039
like that, follow us there. But a lot of stuff

961
00:50:17.079 --> 00:50:19.320
that you can listen to. Always have our Saturday shows

962
00:50:19.360 --> 00:50:24.400
as well, and also we'll plug Jonathan, Sibylia and Mel

963
00:50:25.000 --> 00:50:27.119
have a lot of good feedback from the shows they've

964
00:50:27.159 --> 00:50:28.360
been doing about the state planning.

965
00:50:28.360 --> 00:50:30.440
They've been doing a show at eight o'clock on Saturday

966
00:50:30.480 --> 00:50:33.360
mornings and eight thirty kind of cycles each week. But

967
00:50:33.960 --> 00:50:35.599
I've been getting a lot of tracks in there.

968
00:50:35.840 --> 00:50:38.960
Got a lot of finance talk on the weekends. We

969
00:50:39.000 --> 00:50:42.119
talk about the Saturday shows and the TV shows are

970
00:50:42.119 --> 00:50:46.440
more educational, more macro talk because it's not current events

971
00:50:46.440 --> 00:50:49.559
as much as because we record those once a quarter. Obviously,

972
00:50:49.559 --> 00:50:51.280
the Sunday radio show that we're talking on right now

973
00:50:51.320 --> 00:50:52.840
is more current events.

974
00:50:53.119 --> 00:50:55.480
I think people will really enjoy our new TV shows

975
00:50:55.480 --> 00:50:59.440
we aired. We try to be a lot more cognizant

976
00:50:59.440 --> 00:51:02.199
of what people really are caring about, what they need

977
00:51:02.199 --> 00:51:04.639
to know about with the new administration going into the

978
00:51:04.679 --> 00:51:06.400
new years, with all the fears that they may have,

979
00:51:06.840 --> 00:51:11.039
and just some interesting strategies to think about. And I

980
00:51:11.039 --> 00:51:12.639
think it's going to help a lot of people realize

981
00:51:12.679 --> 00:51:14.920
the need for a financial plan. I think, Dave, you've

982
00:51:14.960 --> 00:51:18.199
seen it this year, more financial plans than I think

983
00:51:18.199 --> 00:51:19.320
any of us have ever seen.

984
00:51:19.559 --> 00:51:20.119
Phenomenal.

985
00:51:20.320 --> 00:51:22.960
So we've helped a lot of people understand where they

986
00:51:23.000 --> 00:51:25.199
need to be, helped a lot of people spend more

987
00:51:25.320 --> 00:51:28.000
than they thought they could which is always fun to do,

988
00:51:28.400 --> 00:51:30.199
and helped a lot of people put together a plan

989
00:51:30.239 --> 00:51:32.760
that they never had, you know, and obtain a peace

990
00:51:32.800 --> 00:51:33.760
of mind they never thought.

991
00:51:33.559 --> 00:51:36.400
They could all different parts of life. I mean, we

992
00:51:36.440 --> 00:51:38.480
have people come in recently, they are in their thirties,

993
00:51:38.480 --> 00:51:42.199
we have people in their eighties. The financial plan benefits everybody,

994
00:51:42.360 --> 00:51:44.719
regardless of what step you are in your financial life

995
00:51:45.000 --> 00:51:46.320
and where you are and what you're trying to get

996
00:51:46.320 --> 00:51:48.320
out of it. It is dynamic enough to help you

997
00:51:49.039 --> 00:51:52.480
get set up, whether retirements in twenty years or you're

998
00:51:52.480 --> 00:51:55.800
in retirement and you just need more of a direction to.

999
00:51:55.760 --> 00:51:58.079
Get I think a perfect example today I got a

1000
00:51:58.119 --> 00:52:01.119
call Friday. I got a call saying I want to

1001
00:52:01.119 --> 00:52:03.079
take a distribution out of my account? How do I

1002
00:52:03.119 --> 00:52:06.519
start that? And I was asking the client, what account

1003
00:52:06.559 --> 00:52:08.840
are you thinking about? They're saying this account, And then

1004
00:52:08.880 --> 00:52:11.039
I said, well, have we done a financial plan. You know,

1005
00:52:11.079 --> 00:52:13.400
they've been a client for a long time, but they've

1006
00:52:13.440 --> 00:52:15.320
never actually done the financial plan. So when you talk

1007
00:52:15.360 --> 00:52:18.559
about distribution, you have to look at the entire networth,

1008
00:52:18.599 --> 00:52:20.760
the entire financial plan, and not just maybe the things

1009
00:52:20.760 --> 00:52:23.000
that we're managing, but things that are outside of the plan.

1010
00:52:23.079 --> 00:52:25.599
And how they come into the picture and help you

1011
00:52:25.639 --> 00:52:28.719
with things. So the plan isn't something it's just about

1012
00:52:28.760 --> 00:52:31.800
the managed accounts that are with us right or the

1013
00:52:31.960 --> 00:52:34.960
accounts we would manage. It's about the entire picture of

1014
00:52:35.000 --> 00:52:38.000
someone's financial situation and how to get them most efficiently

1015
00:52:38.039 --> 00:52:40.000
to their goal. Some people it's how do I spend

1016
00:52:40.039 --> 00:52:41.960
the most for myself. Some people it's how do I

1017
00:52:42.039 --> 00:52:45.519
transfer these assets most efficiently to the next generation? Whatever

1018
00:52:45.559 --> 00:52:47.360
it may be. Even for business owners, how do I

1019
00:52:47.400 --> 00:52:50.760
successfully transfer the business to the next generation? How do

1020
00:52:50.760 --> 00:52:52.639
I plan for my own retirement? Is that going to

1021
00:52:52.719 --> 00:52:55.000
look like? There's a lot of what if scenarios there

1022
00:52:55.000 --> 00:52:57.079
that we can help you build out fantastic?

1023
00:52:57.079 --> 00:52:59.199
Can you? Guys like I say, see a lot of people,

1024
00:52:59.320 --> 00:53:02.039
and I think probably right now you're only seeing one

1025
00:53:02.119 --> 00:53:05.400
or two a day, so, which is slow. So if

1026
00:53:05.440 --> 00:53:07.039
you're looking for a time to get in and make

1027
00:53:07.039 --> 00:53:09.360
an appointment during the holidays, I think it's probably your

1028
00:53:09.360 --> 00:53:12.960
best window. If you haven't done it, you're invited to.

1029
00:53:13.159 --> 00:53:15.480
It's free. We're not going to dog you for the

1030
00:53:15.519 --> 00:53:18.000
rest of your life until you gave in and become

1031
00:53:18.000 --> 00:53:21.880
a client, So feel free. It's a pre financial plan,

1032
00:53:21.920 --> 00:53:25.480
which is really really rare. Mini firm charge one two

1033
00:53:25.559 --> 00:53:28.400
three thousand dollars for those and you guys do a

1034
00:53:28.400 --> 00:53:29.159
great job. Yeah.

1035
00:53:29.159 --> 00:53:31.440
In our offices, we'll be open each week. The next

1036
00:53:31.480 --> 00:53:33.079
couple of weeks. It's we'll have a half day on

1037
00:53:33.119 --> 00:53:36.079
Tuesday of the twenty fourth Christmas Eve, we'll be closed

1038
00:53:36.119 --> 00:53:38.599
on Christmas Day, and we'll be closed on New Year's Day.

1039
00:53:38.800 --> 00:53:40.519
Other than that, we are open during the week every

1040
00:53:40.519 --> 00:53:42.599
single day. Yep, Okay. I want to talk a little

1041
00:53:42.599 --> 00:53:44.480
bit about EV's only because I had a client shocker.

1042
00:53:44.599 --> 00:53:46.000
We were talking about it. I know, it's a shocker.

1043
00:53:46.559 --> 00:53:48.320
And I got a new EV.

1044
00:53:48.719 --> 00:53:51.800
Yeah, it's good. It's a hybrid though, Yeah, but hybrid,

1045
00:53:51.840 --> 00:53:52.440
you got a new one.

1046
00:53:52.440 --> 00:53:53.280
No, it's it's considered.

1047
00:53:53.599 --> 00:53:55.440
Did you get a new car? Huh? Did you get

1048
00:53:55.440 --> 00:53:57.639
a new vehicle? I did? Oh? Yeah, how do I

1049
00:53:57.679 --> 00:53:58.079
not know.

1050
00:53:58.039 --> 00:53:59.480
This Friday morning?

1051
00:53:59.519 --> 00:54:00.679
Having Yes, I just got it.

1052
00:54:00.840 --> 00:54:02.440
Oh, you just got it? What did you get?

1053
00:54:02.639 --> 00:54:06.440
A twenty twenty three Hondai Sonata hybrid, same car, newer?

1054
00:54:06.679 --> 00:54:08.920
Okay, and you always liked the car, and I really

1055
00:54:08.960 --> 00:54:12.840
liked the car. Yeah, despite all of the negative press,

1056
00:54:12.840 --> 00:54:14.880
and you hear that. I saw a report the other day.

1057
00:54:14.960 --> 00:54:17.480
There are so many unsold Teslas you can see them

1058
00:54:17.480 --> 00:54:22.559
from outer space, you know. Really, EV sales continue to grow.

1059
00:54:22.800 --> 00:54:25.800
I mean you can't. I remember not too many years

1060
00:54:25.840 --> 00:54:28.519
ago that if you saw a Tesla, you go home

1061
00:54:28.559 --> 00:54:30.159
and tell your wife thought it was cool. You go home,

1062
00:54:30.239 --> 00:54:33.280
tell you what, yeah, Tesla. Now you can't run an

1063
00:54:33.400 --> 00:54:36.719
errand even a mile from your house without seeing electric cars.

1064
00:54:37.280 --> 00:54:39.679
There are more and more of them. In twenty twenty three,

1065
00:54:39.719 --> 00:54:42.239
EV sales were eight point eight percent of all new

1066
00:54:42.280 --> 00:54:44.920
car sales, eight point eight last year, eight point eight

1067
00:54:45.000 --> 00:54:49.679
this year, Bloomberg says, be thirteen percent. With that said,

1068
00:54:50.079 --> 00:54:53.559
California's planned to ban new cars in the state by

1069
00:54:53.599 --> 00:54:58.119
twenty thirty five that are not electric. It's just completely ridiculous.

1070
00:54:58.639 --> 00:55:02.400
The regulation would require a waiver from the EPA that

1071
00:55:02.519 --> 00:55:05.440
Biden plants to grant, but of course I can see

1072
00:55:05.440 --> 00:55:08.840
Trump reversing that in January. It is interesting to me

1073
00:55:08.960 --> 00:55:12.239
that a very liberal state is trying to pass a

1074
00:55:12.320 --> 00:55:15.639
regulation that would essentially allow only rich people to have

1075
00:55:15.719 --> 00:55:19.719
new cars. Seems a little odd to me. You know,

1076
00:55:19.760 --> 00:55:21.679
people ask me about the test, at least the test,

1077
00:55:21.840 --> 00:55:25.119
because I like the technology that's it Over the past

1078
00:55:25.239 --> 00:55:27.880
nineteen months, I've become very familiar with that space. And

1079
00:55:27.920 --> 00:55:30.800
there's not a week goes by I don't get somebody

1080
00:55:31.400 --> 00:55:34.599
call with a question about electric vehicles. And if you're

1081
00:55:34.639 --> 00:55:36.320
one of those people out there I've got a little

1082
00:55:36.360 --> 00:55:39.800
bit of knowledge, don't hesitate to call and ask me

1083
00:55:39.800 --> 00:55:42.440
a question about it. One of the one of the

1084
00:55:42.480 --> 00:55:45.960
things I hear that drives me nuts is well, you know,

1085
00:55:46.239 --> 00:55:48.559
when you get enough electric vehicles out there, the power

1086
00:55:48.599 --> 00:55:52.039
grid is gonna shut down. Nothing could be further from

1087
00:55:52.079 --> 00:55:55.360
the truth. There's five point one million electric vehicles out

1088
00:55:55.400 --> 00:55:58.400
there right now. The projection is by twenty thirty it'll

1089
00:55:58.440 --> 00:56:02.280
be forty million. If there are forty million vehicles out there,

1090
00:56:02.599 --> 00:56:05.880
that's going to be consuming three point eight percent of

1091
00:56:05.920 --> 00:56:08.639
the power grid three point eight percent. If we have

1092
00:56:08.800 --> 00:56:11.559
eight times as many electric vehicles as we have now,

1093
00:56:12.000 --> 00:56:16.159
three point eight percent. And the interesting part about the

1094
00:56:16.199 --> 00:56:20.800
electric grid is almost all charging of electric vehicles is

1095
00:56:20.840 --> 00:56:25.360
done overnight, when the electric grid is just dying for customers.

1096
00:56:26.519 --> 00:56:28.679
Yeah, no, it's definitely done overnight. So that's that's where

1097
00:56:28.719 --> 00:56:31.039
it doesn't care. I mean, the electric goods still fueled

1098
00:56:31.039 --> 00:56:32.559
by majority fossil fuels.

1099
00:56:33.199 --> 00:56:34.039
That's irrelevant.

1100
00:56:34.239 --> 00:56:37.920
Yeah, it's not irrelevant to the people who know the

1101
00:56:37.960 --> 00:56:40.159
people who say, well, you know, you get many more

1102
00:56:40.199 --> 00:56:43.360
election in that electric good in that debate. Nothing in

1103
00:56:43.360 --> 00:56:44.280
that debate, you're correct.

1104
00:56:44.400 --> 00:56:46.880
Yeah, that's all big date. I'm not debating whether it's

1105
00:56:47.000 --> 00:56:50.519
good for the econ or good for the requirement geep.

1106
00:56:51.440 --> 00:56:54.599
That's another argument altogether. I'm just saying that if you

1107
00:56:54.679 --> 00:56:58.199
think that the ev sales are dying, they're not. And

1108
00:56:58.320 --> 00:57:00.440
if you think that it's going to shut down the margaret,

1109
00:57:00.599 --> 00:57:01.599
it's not. That's all.

1110
00:57:01.719 --> 00:57:04.599
You're still a hip you know, who's not hip to

1111
00:57:04.599 --> 00:57:07.280
the game of evs because he just bought more oil.

1112
00:57:08.119 --> 00:57:11.000
Warren Buffett, how about that? He says, Hey, I'm not

1113
00:57:11.079 --> 00:57:13.639
I'm not stick it to my guns. Not only am

1114
00:57:13.679 --> 00:57:17.440
I buying more oil with oxy, I'm buying more Serious

1115
00:57:17.599 --> 00:57:18.199
XM too.

1116
00:57:18.599 --> 00:57:21.320
The he can do those things just seem to make

1117
00:57:21.400 --> 00:57:22.159
no a.

1118
00:57:23.679 --> 00:57:24.360
VeriSign. Yeah.

1119
00:57:24.480 --> 00:57:28.039
Yeah, so they said the Serious XM and VeriSign were

1120
00:57:28.079 --> 00:57:30.840
smaller bodies. So they don't think Buffett bought that himself.

1121
00:57:30.920 --> 00:57:35.159
Yeah, they think is like his little Mint minions.

1122
00:57:35.199 --> 00:57:38.320
So he bought four hundred five million dollars worth of Occidental.

1123
00:57:37.840 --> 00:57:40.719
More of it twenty eight percent of the company.

1124
00:57:40.880 --> 00:57:42.880
Just I mean it drops, so he bought more. That's

1125
00:57:42.880 --> 00:57:43.360
what he does.

1126
00:57:43.559 --> 00:57:45.639
But I mean it has to have done anything for years.

1127
00:57:45.760 --> 00:57:48.119
I think what Dave always says is if the stock

1128
00:57:48.159 --> 00:57:51.239
market has been running and your stock isn't working. Here,

1129
00:57:51.559 --> 00:57:53.079
I don't really agree with you when you say this,

1130
00:57:53.320 --> 00:57:55.039
but for the most part, I mean, the guy gets

1131
00:57:55.079 --> 00:57:57.679
to a point where it's like, you know, I say

1132
00:57:57.679 --> 00:58:00.199
this about Ford. You know, look at Ford. It's like, sure,

1133
00:58:00.440 --> 00:58:02.480
you know, if the stock market is running, it's not running.

1134
00:58:03.039 --> 00:58:05.320
There is something to it, right.

1135
00:58:05.159 --> 00:58:07.519
Yeah, I think that the Ford and we talk about

1136
00:58:07.519 --> 00:58:08.840
this in the office, and I get a lot of

1137
00:58:08.840 --> 00:58:10.880
grief about it. But uh, you know, I had the

1138
00:58:10.920 --> 00:58:13.559
six percent dividend and a pe of five. It's not

1139
00:58:13.599 --> 00:58:14.360
going much lower.

1140
00:58:14.760 --> 00:58:17.000
I mean, it's it's sold, it's already it's already hurt.

1141
00:58:17.199 --> 00:58:19.519
It's already hurt. It's been and it has done nothing

1142
00:58:19.599 --> 00:58:21.199
for a couple of years, and every now and then

1143
00:58:21.239 --> 00:58:23.639
it'll jump up to thirteen or fourteen. But you're getting

1144
00:58:23.639 --> 00:58:24.760
your six percent interest.

1145
00:58:25.679 --> 00:58:28.800
But that's what Buffett historically has done. He buys overly

1146
00:58:29.480 --> 00:58:32.599
undervalued stock, you know, So he'll keep doing that because

1147
00:58:32.599 --> 00:58:34.840
he thinks he's right until you will be.

1148
00:58:35.119 --> 00:58:37.239
I've been in the business long enough to remember when

1149
00:58:37.280 --> 00:58:39.760
Warren said that he would never buy a technology stock

1150
00:58:40.320 --> 00:58:42.960
because he didn't understand it. Yeah, okay, well that's changed

1151
00:58:43.000 --> 00:58:46.920
obviously over the years. But the Oxy, the Oxy purchasing

1152
00:58:46.920 --> 00:58:48.960
and Apple was his biggest holding right down.

1153
00:58:49.039 --> 00:58:51.519
Yeah, we're talking to some of the iHeartRadio guys, and

1154
00:58:51.880 --> 00:58:53.960
he was talking about how Serious XM was kind of

1155
00:58:54.000 --> 00:58:59.239
going towards the what the podcast streaming? Yeah, and podcasts

1156
00:58:59.280 --> 00:59:01.519
yeah no, no, no, note, but Series six TEM was going

1157
00:59:01.559 --> 00:59:05.960
back to satellite radio rather than pushing the podcast and

1158
00:59:06.039 --> 00:59:08.920
the online streaming. They're going back to satellite radio.

1159
00:59:09.519 --> 00:59:09.840
Why.

1160
00:59:10.000 --> 00:59:13.079
I don't know why, like why regardless even if they

1161
00:59:13.079 --> 00:59:15.440
had an app that did streaming or if they had

1162
00:59:15.440 --> 00:59:18.440
a satellite radio, who in our generation is downloading?

1163
00:59:18.559 --> 00:59:21.000
Serious six TEM used to be satellite radio and that's

1164
00:59:21.000 --> 00:59:23.280
what they always pushed, and then they started pushing this

1165
00:59:23.360 --> 00:59:26.920
new online, online and streaming stuff. Right right now, they're

1166
00:59:26.920 --> 00:59:28.880
going back to the satellite radio.

1167
00:59:29.400 --> 00:59:31.760
Yeah, man, because they're too late. They realize they're too late.

1168
00:59:31.960 --> 00:59:34.519
We're already on Spotify, we're already on Apple Media.

1169
00:59:34.559 --> 00:59:36.599
Right, So let me just touch what I can let

1170
00:59:36.639 --> 00:59:38.079
me get the market show that I can here.

1171
00:59:37.960 --> 00:59:42.800
Focus on radio. We have a monopoly in satellite radio,

1172
00:59:43.159 --> 00:59:45.360
because when you have a car, a new car, what

1173
00:59:45.440 --> 00:59:47.719
does it come on? Serious? There's no other salllite radio,

1174
00:59:48.079 --> 00:59:49.880
I mean I know of so if you want a

1175
00:59:49.880 --> 00:59:51.480
satellite radio, you get Serius x tem. They have kind

1176
00:59:51.480 --> 00:59:53.440
of that monopoly. But other than that, I don't know

1177
00:59:53.480 --> 00:59:56.000
what they do that would be valuable. And I think

1178
00:59:56.000 --> 00:59:58.320
that satellite radio is a dying I mean I say

1179
00:59:58.360 --> 00:59:59.880
this all the time though, because we do. We're on

1180
00:59:59.920 --> 01:00:02.519
the radio, and we do just fine. There's plenty of business,

1181
01:00:02.639 --> 01:00:07.239
right sure. So I don't know how long the satellite

1182
01:00:07.320 --> 01:00:09.960
radio maybe does stay around, because there is seem to

1183
01:00:09.960 --> 01:00:12.440
be a couple of I would think, right, so it

1184
01:00:12.480 --> 01:00:13.440
might be a thirty year.

1185
01:00:13.360 --> 01:00:16.519
Runway right right in there. But it's gonna go about

1186
01:00:16.519 --> 01:00:18.519
the same time Walgreens goes, right, I.

1187
01:00:18.519 --> 01:00:20.239
Think Walgreens goes a little sooner than that. You think

1188
01:00:20.280 --> 01:00:23.119
walking is gonna go shot? Yeah, because I still think

1189
01:00:23.159 --> 01:00:26.800
people in their fifties listen to radio. Yeah, I think

1190
01:00:26.920 --> 01:00:28.800
after you get into the forties and thirties, the numbers

1191
01:00:28.840 --> 01:00:30.599
drop off a little bit and then it's just completely

1192
01:00:30.679 --> 01:00:32.519
straining podcast company.

1193
01:00:32.559 --> 01:00:34.960
It's not just the radio as a whole, yeah, or

1194
01:00:35.039 --> 01:00:36.119
like a convenience store as a whole.

1195
01:00:36.119 --> 01:00:37.519
Walgreens could go out of business.

1196
01:00:37.320 --> 01:00:40.000
Because they just suck, Yeah, because we keep using one

1197
01:00:41.159 --> 01:00:42.840
they got right, they got other ones.

1198
01:00:43.199 --> 01:00:46.039
But prices are higher at CBS than they aren't Walgreens.

1199
01:00:46.079 --> 01:00:47.840
Consistently that all the time.

1200
01:00:47.920 --> 01:00:50.119
I don't I don't get how CVS is doing better

1201
01:00:50.159 --> 01:00:50.800
than Walgreens.

1202
01:00:51.039 --> 01:00:53.360
Really, I'm not really a price ch opera, but there's

1203
01:00:53.400 --> 01:00:55.800
a noticeable difference. To me. I agree.

1204
01:00:55.800 --> 01:00:57.679
I don't think why any one of those two would

1205
01:00:57.679 --> 01:01:00.599
be good. Like, who's going to a CVS to buy

1206
01:01:00.639 --> 01:01:02.559
something that seems like it's more expensive?

1207
01:01:03.159 --> 01:01:05.480
And yet people are in the interesting you know, we

1208
01:01:05.519 --> 01:01:07.920
talked about this being the big football season, and that's

1209
01:01:08.079 --> 01:01:10.320
for a football fan, this is about as good as

1210
01:01:10.320 --> 01:01:12.960
it gets. You got NFL, you got Bowl games, and you.

1211
01:01:12.920 --> 01:01:15.360
Got cold weather football games. Those are the best when

1212
01:01:15.400 --> 01:01:17.679
you're in a warm weather state and you get to

1213
01:01:17.719 --> 01:01:20.760
watch cold weather football games. Yeah, it's like it's like

1214
01:01:20.800 --> 01:01:22.519
you're looking into a snow globe.

1215
01:01:22.840 --> 01:01:24.280
Right. But I'm kind of one of these guys that

1216
01:01:24.400 --> 01:01:27.559
thinks that the playoff games ought to be indoors and

1217
01:01:27.840 --> 01:01:30.800
so you actually have the best team win and not

1218
01:01:30.920 --> 01:01:32.280
the team that can do the best with you.

1219
01:01:32.480 --> 01:01:34.840
Well, the first round we'll get the indoors.

1220
01:01:34.440 --> 01:01:37.199
In the Tennessee going to Ohio State. That's how's that

1221
01:01:37.239 --> 01:01:38.079
fair to Tennessee.

1222
01:01:38.360 --> 01:01:42.000
Well, they should have done better. They would have got

1223
01:01:42.079 --> 01:01:42.559
to buy and.

1224
01:01:42.480 --> 01:01:45.559
They could be going to Tennessee right right. Other than that,

1225
01:01:46.400 --> 01:01:49.639
like Todd said, the NBC did an interesting survey. They

1226
01:01:49.880 --> 01:01:53.840
ranked the seventy five most valuable college athletic program. Did

1227
01:01:53.880 --> 01:01:57.079
you see us doing glean from people in private equity

1228
01:01:57.159 --> 01:01:59.360
who are in best unions college? So actually put a

1229
01:01:59.519 --> 01:02:04.400
value on college, on college sports programs, not the football program,

1230
01:02:04.599 --> 01:02:07.400
not the basket, everything together everything. What do you think

1231
01:02:07.440 --> 01:02:10.000
the most valuable college in the United States is? Per

1232
01:02:10.039 --> 01:02:16.679
this survey, UCLA, Ohio State, number two, Texas, Yeah, I

1233
01:02:16.719 --> 01:02:19.280
see them, number three Texas, A and M. That surprised

1234
01:02:19.280 --> 01:02:19.840
me a little bit.

1235
01:02:20.039 --> 01:02:22.039
Oh, they're probably including like booster money or.

1236
01:02:22.039 --> 01:02:25.920
Something, revenue, revenue from the various points.

1237
01:02:25.920 --> 01:02:26.760
It's not just revenue.

1238
01:02:27.239 --> 01:02:28.400
How do they break down revenue?

1239
01:02:28.400 --> 01:02:31.280
It's not just revenue because I mean Alabama's number six

1240
01:02:31.320 --> 01:02:33.639
on there with two hundred million revenue and then there's

1241
01:02:33.800 --> 01:02:36.480
number eight has like two ten in revenue, so it's

1242
01:02:36.480 --> 01:02:37.840
not just based on revenue.

1243
01:02:38.119 --> 01:02:39.920
I thought it was interesting to look at the value

1244
01:02:39.960 --> 01:02:42.719
of conferences. They then went in and said, what's the

1245
01:02:42.719 --> 01:02:46.199
most valuable conference? Got to be SEC in the Big ten?

1246
01:02:46.280 --> 01:02:49.440
Pretty close six of the top ten in that valuation

1247
01:02:49.559 --> 01:02:52.480
that Big ten has three. Yeah, because then US season

1248
01:02:52.639 --> 01:02:53.000
for twelve.

1249
01:02:53.000 --> 01:02:54.360
I guess, I guess it makes sense if you think

1250
01:02:54.360 --> 01:02:57.039
about the size of the stadiums. Who is the biggest

1251
01:02:57.039 --> 01:03:00.119
stadiums and that brings in the most revenue.

1252
01:03:00.440 --> 01:03:02.599
But it's not just based on revenue either, because like

1253
01:03:02.639 --> 01:03:04.840
I said, Bama's up there, but they have two on

1254
01:03:04.880 --> 01:03:06.880
ared million in revenue. The number eight or nine is

1255
01:03:06.920 --> 01:03:09.039
two hundred and ten million in revenue. So there's another

1256
01:03:09.119 --> 01:03:09.800
metric to there.

1257
01:03:09.880 --> 01:03:11.519
I didn't see. There are a number of metrics, and

1258
01:03:11.559 --> 01:03:14.119
they were using private equity to try to value these things.

1259
01:03:14.199 --> 01:03:16.679
And so do you know what number U of A was?

1260
01:03:17.000 --> 01:03:18.639
I mean, I know I did not want to see it.

1261
01:03:18.719 --> 01:03:20.320
I didn't go down there. That's what they are.

1262
01:03:21.000 --> 01:03:24.199
And guess if they're higher than ASU out of seventy

1263
01:03:24.239 --> 01:03:26.000
five out of seventy five, what is U of A.

1264
01:03:26.360 --> 01:03:28.000
Fifty two forty one.

1265
01:03:28.480 --> 01:03:31.239
Okay, I don't think we're hiring a SU was like

1266
01:03:31.280 --> 01:03:31.800
fifty eight.

1267
01:03:32.039 --> 01:03:35.440
Really, so the U of a franchise is more valuable

1268
01:03:35.440 --> 01:03:37.679
than the ASU franchise. Now that may change a little

1269
01:03:37.679 --> 01:03:38.679
bit this year with it they have.

1270
01:03:38.639 --> 01:03:40.199
To pay off that debt that couldn't.

1271
01:03:40.599 --> 01:03:44.800
Also, ASU has never had good sports. We've we've always

1272
01:03:44.800 --> 01:03:46.239
been known to be like this is where you can

1273
01:03:46.280 --> 01:03:49.840
get in. I mean Kentucky's we have the most student

1274
01:03:49.840 --> 01:03:52.079
body in the world because we don't have requirements to

1275
01:03:52.079 --> 01:03:54.119
get into the college. You just got to pay the

1276
01:03:54.159 --> 01:03:55.199
tuition bill you get in.

1277
01:03:55.320 --> 01:03:57.400
Anybody can go there, right, But it's like out a

1278
01:03:57.440 --> 01:04:00.280
major one major sport and like a good other wonder

1279
01:04:00.440 --> 01:04:02.880
decent it'll be up there, like you of a Kentucky's

1280
01:04:02.920 --> 01:04:05.559
like twenty eight because of basketball more so than the

1281
01:04:05.639 --> 01:04:06.519
SEC for football.

1282
01:04:06.519 --> 01:04:09.760
But Arizona for basketball. I'm sure that he exactly. Yeah,

1283
01:04:10.559 --> 01:04:13.239
the let's talk a little bit about GLP one. Big

1284
01:04:13.280 --> 01:04:14.239
week for GLP one.

1285
01:04:14.239 --> 01:04:15.280
I don't want to talk about it.

1286
01:04:16.239 --> 01:04:22.079
Mark finally you have to. Mark finally got involved. Mark

1287
01:04:22.199 --> 01:04:27.320
is buying China's Hands Pharma because they have an investigational

1288
01:04:27.880 --> 01:04:32.880
oral small molecule GLP one receptor agonist. In other words,

1289
01:04:33.000 --> 01:04:38.360
they have a pill. Another way to put that, Uh yeah,

1290
01:04:38.400 --> 01:04:43.119
put aka oral diet pill. The stock really merkstock showed

1291
01:04:43.159 --> 01:04:46.920
a little reaction. But Him and Hers Health uh that

1292
01:04:47.039 --> 01:04:50.440
Digital healthcare stock's up two hundred and fifty percent this year.

1293
01:04:50.840 --> 01:04:54.199
And get this fashion you like this? That prompted Morgan

1294
01:04:54.239 --> 01:04:57.360
Stanley to rate the stock. Buy there you go, say,

1295
01:04:57.400 --> 01:05:00.280
and the company's well positioned to benefit from increasing man

1296
01:05:00.280 --> 01:05:04.920
and guess what happened? Doc propertly dropped ten percent. Seems

1297
01:05:04.920 --> 01:05:08.599
to be a pattern here. After the FDA came out

1298
01:05:08.639 --> 01:05:11.039
and said Lily's and we've been talking about this on

1299
01:05:11.079 --> 01:05:14.760
the show, Lily's weight loss drug is no longer in

1300
01:05:14.920 --> 01:05:20.360
shortage and compound pharmacies will need to stop producing the

1301
01:05:20.400 --> 01:05:23.559
popular product within sixty to ninety days.

1302
01:05:23.679 --> 01:05:25.159
Yet they're still producing it, right.

1303
01:05:25.119 --> 01:05:27.880
They got sixty to ninety days to wind down, if

1304
01:05:27.880 --> 01:05:30.840
you will. But Him and Hers has been really killing

1305
01:05:30.880 --> 01:05:32.039
it in that space.

1306
01:05:31.800 --> 01:05:33.760
So they don't. So this wasn't like they were allowed

1307
01:05:33.800 --> 01:05:37.519
to do it forever. No, No, it is winding down.

1308
01:05:37.519 --> 01:05:39.280
They kind of they kind of hope they'd do it forever.

1309
01:05:39.320 --> 01:05:41.880
And then the radio show, we've been saying, how is

1310
01:05:41.920 --> 01:05:45.559
this allowed? And certainly it sounds like, well, who required

1311
01:05:45.639 --> 01:05:49.039
we go vi and these people to open up? Was

1312
01:05:49.079 --> 01:05:49.960
it a requirement for.

1313
01:05:49.880 --> 01:05:51.440
They wanted help?

1314
01:05:51.440 --> 01:05:52.800
Well, that was a terrible idea.

1315
01:05:52.960 --> 01:05:55.079
I think it more Todd, I think it more so

1316
01:05:55.159 --> 01:05:59.000
started because this initially was a diabetic drug, right, and

1317
01:05:59.079 --> 01:06:00.760
so all these people would die. Vida started to go

1318
01:06:00.800 --> 01:06:04.440
on the struggle. No, it started to leak onto weight

1319
01:06:04.480 --> 01:06:07.800
loss people and then the diabetic right, but then the

1320
01:06:07.840 --> 01:06:10.079
diabetics could not get it again.

1321
01:06:10.239 --> 01:06:10.480
Huge.

1322
01:06:10.599 --> 01:06:13.480
It was a terrible business decision. You can see now

1323
01:06:13.639 --> 01:06:16.239
why it is because they lost all this revenue during

1324
01:06:16.239 --> 01:06:18.920
this time. And if anything, you look at Navidia, who

1325
01:06:19.000 --> 01:06:21.840
has supply constraints, they do just fine, right because they

1326
01:06:21.840 --> 01:06:23.239
have a whole bunch of demand and all they say

1327
01:06:23.280 --> 01:06:23.960
is that we can't meet.

1328
01:06:24.039 --> 01:06:25.280
Yeah, it was, it was, it was.

1329
01:06:25.800 --> 01:06:27.519
It would have been better to go higher. It would

1330
01:06:27.519 --> 01:06:29.119
have been better than opening up and say hey and

1331
01:06:29.280 --> 01:06:30.920
d open up, make my chip too.

1332
01:06:31.079 --> 01:06:33.159
This was per FDA. That wasn't Novo.

1333
01:06:33.360 --> 01:06:37.639
Well now, but Novo and and Lily wanted to help.

1334
01:06:38.280 --> 01:06:40.519
They wanted to help. They were they felt like they

1335
01:06:40.559 --> 01:06:43.079
didn't have enough product to sell. And like Todd said,

1336
01:06:43.480 --> 01:06:46.800
but then doing an video just raise the price. But

1337
01:06:46.880 --> 01:06:48.599
I think there was some pressure on them to keep

1338
01:06:48.599 --> 01:06:52.000
the price down, probably from the administration, and so they

1339
01:06:52.000 --> 01:06:55.039
said we need more product. That's when the compound pharmacies

1340
01:06:55.079 --> 01:06:58.880
got involved. And now getting them to not be involved

1341
01:06:59.000 --> 01:07:00.760
is is becoming a bit of a problem.

1342
01:07:01.039 --> 01:07:03.559
Well, the bigger headline of the GLP one companies was

1343
01:07:03.639 --> 01:07:06.119
Nova and Nordous this week. They dropped about twenty percent

1344
01:07:06.239 --> 01:07:10.199
on Friday after announcing results from an experimental BC drug

1345
01:07:10.199 --> 01:07:12.960
that came up short of the company's predictions. The patients

1346
01:07:13.079 --> 01:07:15.559
were given the shots that were given the shot lost

1347
01:07:15.599 --> 01:07:18.519
about twenty point four percent of their weight on over

1348
01:07:18.760 --> 01:07:21.559
sixty eight weeks on average, versus the twenty five percents

1349
01:07:21.559 --> 01:07:23.840
that they had expected.

1350
01:07:23.840 --> 01:07:25.159
Right now, sixty eight weeks.

1351
01:07:25.239 --> 01:07:25.920
Isn't that crazy?

1352
01:07:26.280 --> 01:07:29.360
Yeah? Yeah, twenty two and a half percent weight lost

1353
01:07:29.440 --> 01:07:31.840
versus twenty five and the stock gets.

1354
01:07:31.599 --> 01:07:32.719
Crushed twenty percent.

1355
01:07:33.119 --> 01:07:34.280
Yeah don't. I don't get it.

1356
01:07:34.400 --> 01:07:34.880
I don't get it.

1357
01:07:35.000 --> 01:07:36.360
You read the news and I said that there has

1358
01:07:36.400 --> 01:07:38.480
to be more to this. The other thing I saw

1359
01:07:38.599 --> 01:07:42.519
in the news release is there are still safety concerns.

1360
01:07:43.719 --> 01:07:46.320
So yeah, but then so like on Friday too, I

1361
01:07:46.360 --> 01:07:48.320
don't know if you saw Eli Lilly came out and

1362
01:07:48.360 --> 01:07:52.280
said that FDA disapproved their drug for sleep apnea. Right,

1363
01:07:52.320 --> 01:07:55.159
So yeah, more and more you're gonna get. These drugs

1364
01:07:55.159 --> 01:07:58.599
started to get approved for other things rather than just obesity.

1365
01:07:58.639 --> 01:07:59.760
And we've seen that already.

1366
01:08:00.280 --> 01:08:02.559
Yeah, I think I think you've seen it for fertility.

1367
01:08:02.559 --> 01:08:03.400
We've seen it for.

1368
01:08:05.320 --> 01:08:07.760
We've also talked about the fact that these stocks were

1369
01:08:07.800 --> 01:08:09.880
overvalued for a very long time.

1370
01:08:09.840 --> 01:08:13.119
So expensive, I mean Lily five times any other pharmaceutical

1371
01:08:13.159 --> 01:08:16.880
company out there, So it's vulnerable to any any kind

1372
01:08:16.920 --> 01:08:19.520
of a hiccup. Right, And so if you're in lelly

1373
01:08:20.039 --> 01:08:22.760
and and you've ridden it up as much as it's

1374
01:08:23.520 --> 01:08:28.399
takes them off the table. Same with Nvidia. H trees

1375
01:08:28.439 --> 01:08:32.920
do not grow to the sky, and eventually within Vidia

1376
01:08:33.119 --> 01:08:36.399
you get to just using them as an example, I've

1377
01:08:36.399 --> 01:08:39.000
been saying for weeks that I think they probably are

1378
01:08:39.039 --> 01:08:42.159
they they're producing as much as they can produce, uh,

1379
01:08:42.199 --> 01:08:45.359
and you can't produce anymore. And at that point you

1380
01:08:45.439 --> 01:08:48.560
start to think, well, maybe the maybe the stocks toopped

1381
01:08:48.600 --> 01:08:49.199
out a little bit.

1382
01:08:50.079 --> 01:08:53.760
So did you see Adobe? Obviously last week drop big

1383
01:08:54.279 --> 01:08:57.159
kind of had another five percent down week. This week

1384
01:08:57.319 --> 01:09:00.000
I thought was interesting is they're saying that Adobe's losing

1385
01:09:00.079 --> 01:09:05.560
business to Chat GPT and Microsoft's backed Open AI, and

1386
01:09:05.600 --> 01:09:08.880
then Adobe is not using their monetization of AI solutions.

1387
01:09:09.119 --> 01:09:11.760
And I thought, you know, maybe I could actually see

1388
01:09:11.760 --> 01:09:14.319
that where some of the things you might have used

1389
01:09:14.319 --> 01:09:18.039
Adobe before, you can just use an AI, whether it's Open,

1390
01:09:18.479 --> 01:09:21.439
whether it's Chat, Gibeterior, any of the AI bots. Maybe

1391
01:09:21.520 --> 01:09:24.279
that hurts Adobe. But then at the same time you think, okay, well,

1392
01:09:24.319 --> 01:09:27.239
why does an Adobe just implement some type of AI

1393
01:09:28.319 --> 01:09:30.560
into their business offering. I feel like Adobe is one

1394
01:09:30.560 --> 01:09:32.920
of those things that a lot of businesses already use.

1395
01:09:33.079 --> 01:09:35.560
Oh yeah, and that earning is called The main thing

1396
01:09:35.680 --> 01:09:37.279
that was talked about was the fact that they weren't

1397
01:09:37.319 --> 01:09:38.520
able to monetize their AI.

1398
01:09:39.359 --> 01:09:42.560
Right, I have a I don't use Chat GPT a lot.

1399
01:09:42.600 --> 01:09:44.600
I appreciate you telling me about Chat. I've got the

1400
01:09:44.640 --> 01:09:46.840
app on my phone. I'm more of a Google guy

1401
01:09:47.479 --> 01:09:51.359
for whatever reason. And my grandkids were visiting for Thanksgiving

1402
01:09:51.399 --> 01:09:53.279
and they were asking me what I had on my TV.

1403
01:09:53.399 --> 01:09:56.039
While I'm I have to decide every month whether to

1404
01:09:56.079 --> 01:09:58.359
make my mortgage payment or pay my cable bill. Right,

1405
01:09:58.399 --> 01:10:01.319
so I'm one of those guys, I said, I have

1406
01:10:01.439 --> 01:10:05.039
everything anything. Do you have this? I have that? Do

1407
01:10:05.039 --> 01:10:07.600
you have this? And that? Yes, I have that. I

1408
01:10:07.680 --> 01:10:11.319
bet you don't have chat GPT. I pulled out my

1409
01:10:11.319 --> 01:10:14.199
phone and showed him the chat GPT app. It was

1410
01:10:14.239 --> 01:10:14.880
I popular.

1411
01:10:15.000 --> 01:10:16.039
You thought, you're pretty cool.

1412
01:10:16.119 --> 01:10:19.199
Pretty cool, pretty cool. And we're running over there for

1413
01:10:19.720 --> 01:10:21.880
a Christmas over to Orange County just to spend a

1414
01:10:21.880 --> 01:10:24.560
little time with the reminds me of last Christmas when

1415
01:10:24.920 --> 01:10:27.520
my wife. I needed my wife and I called out

1416
01:10:27.560 --> 01:10:31.760
her name and my four year old granddaughter said, you

1417
01:10:31.840 --> 01:10:35.840
called her. Her name's Linda. I called for land Linda,

1418
01:10:36.279 --> 01:10:39.439
and my four year old granddaughter said, you called her Linda.

1419
01:10:39.520 --> 01:10:44.159
Her name is Grandma. Kind of cute. Gonna go down

1420
01:10:44.159 --> 01:10:46.479
in the archives. So we get a few more of

1421
01:10:46.479 --> 01:10:48.960
those while the kid before the kids become thirteen and

1422
01:10:49.000 --> 01:10:51.319
fifteen and don't want to be anywhere near us, you know,

1423
01:10:52.239 --> 01:10:54.479
got to soak it up. There's five and seven of them,

1424
01:10:54.479 --> 01:10:55.479
soak it up while we can.

1425
01:10:55.600 --> 01:10:57.920
I saw an interesting article as we round out this

1426
01:10:58.399 --> 01:11:01.439
break about Team Mobile tea Mobile partnering with Starlink in

1427
01:11:01.520 --> 01:11:04.840
a beta phase of getting all their phones connected to Starlink,

1428
01:11:04.920 --> 01:11:07.319
meaning that any dead spot. You know, Dave, you Ron

1429
01:11:07.640 --> 01:11:09.319
hikes all the time in national parks, all of a

1430
01:11:09.319 --> 01:11:10.800
sudden you don't got service. Well, that would be a

1431
01:11:10.800 --> 01:11:13.000
thing of the past. You'd be connected in every single

1432
01:11:13.039 --> 01:11:15.000
part of the worldhole by just your phone, no extra

1433
01:11:15.039 --> 01:11:18.359
hardware needed. If that comes to fruition, potentially people on

1434
01:11:18.439 --> 01:11:20.479
Verizon eighteen teas to say, hey, I want to go

1435
01:11:20.479 --> 01:11:22.560
to T mobile. That's that's something you just can't be

1436
01:11:22.640 --> 01:11:25.399
especially on those long term drives, you know, road trips,

1437
01:11:25.439 --> 01:11:27.520
and all of a sudden your music stops out. Well,

1438
01:11:27.560 --> 01:11:28.520
imagine that never happens.

1439
01:11:28.560 --> 01:11:31.039
Right, We've ring it closer to home. If you walk

1440
01:11:31.159 --> 01:11:34.640
Sabino Canyon and go on the tram side of Sabino Canyon,

1441
01:11:35.039 --> 01:11:37.560
it's roughly four miles to the top. About a mile

1442
01:11:37.600 --> 01:11:41.199
in you lose coverage right in Sabino Canyon, So that

1443
01:11:41.239 --> 01:11:45.840
would be spectacular. I listen to music and it goes away.

1444
01:11:46.199 --> 01:11:48.760
We will be back with more than Money Matter Show. Sebastian,

1445
01:11:48.800 --> 01:11:51.399
your first step, Come on, we come back. We'll back right

1446
01:11:51.399 --> 01:11:54.199
after this break. Thanks for joining us. Welcome back to

1447
01:11:54.239 --> 01:11:57.720
the Money Matter Show. It's beautiful Sunday morning, Sebastian. We

1448
01:11:57.720 --> 01:12:00.720
were talking about losing coverage on our alphones, and you

1449
01:12:00.760 --> 01:12:01.920
said you lose coverage.

1450
01:12:02.319 --> 01:12:03.920
All I was gonna say was I lose coverage at

1451
01:12:04.000 --> 01:12:05.520
Chick fil A on Oracle when I'm sitting in the

1452
01:12:05.560 --> 01:12:07.960
drive through. Starlink would be a hell of a thing.

1453
01:12:08.119 --> 01:12:10.560
Oh yeah, yeah, then that would be wonderful to be

1454
01:12:10.560 --> 01:12:12.600
able to have coverage all the way.

1455
01:12:12.680 --> 01:12:14.720
A couple of ETFs caught my eye this week. We

1456
01:12:14.800 --> 01:12:18.600
got to sell off. Opportunities arise when you get sell offs, potentially.

1457
01:12:19.479 --> 01:12:22.359
I think one of the things about one of the

1458
01:12:22.439 --> 01:12:24.239
legends you talked to, I think it was Paul Tutor

1459
01:12:24.319 --> 01:12:28.000
Jones that was interested in the KRE the regional bank ETFE.

1460
01:12:28.279 --> 01:12:30.560
It has come down since he's bought it, so maybe

1461
01:12:30.560 --> 01:12:33.159
a better opportunity than what he got in. I think

1462
01:12:33.159 --> 01:12:35.359
it's interesting with regional bank. There's been a lot of

1463
01:12:35.399 --> 01:12:38.479
inflows into the financial space as of late. It's been

1464
01:12:38.520 --> 01:12:41.920
one of the highest sectors for whatever reason. And uh,

1465
01:12:42.239 --> 01:12:44.560
it seems the regional banks have kind of maybe got

1466
01:12:44.680 --> 01:12:48.119
too far too fast. Kie the insurance ETF that's come

1467
01:12:48.159 --> 01:12:50.560
down from its highs quite a bit. And uh, I

1468
01:12:50.560 --> 01:12:55.640
always love when we hear something from antidotally Dylan got

1469
01:12:55.640 --> 01:12:58.319
a nine percent increase on his home insurance today.

1470
01:12:58.560 --> 01:12:58.760
You know.

1471
01:12:58.800 --> 01:13:00.880
So when I hear that, it's like, oh, you know,

1472
01:13:00.960 --> 01:13:03.560
let's not make the same mistake again, Dave. Let's look

1473
01:13:03.560 --> 01:13:08.880
at the insurance ETF so kie that's the the spider insurance.

1474
01:13:08.600 --> 01:13:12.119
TV nine percent increase stolen Yeah, no mine, you know

1475
01:13:12.159 --> 01:13:15.359
what mine was? Hundred percent? Yeah, one hundred percent.

1476
01:13:15.359 --> 01:13:18.600
In the insurance business is a license to print money.

1477
01:13:18.359 --> 01:13:21.479
No claims, no claims, one hundred percent increases.

1478
01:13:21.239 --> 01:13:25.000
That's crazy. I backed my Tesla into a wall, had

1479
01:13:25.239 --> 01:13:27.520
eight thousand dollars worth the damage. I was going five

1480
01:13:27.560 --> 01:13:30.520
miles an hour with eight thousand dollars with the damage

1481
01:13:30.560 --> 01:13:33.159
you could it's all made out of aluminum in plastic, right,

1482
01:13:33.640 --> 01:13:36.760
So yeah, you push the plastic bumper into the rear

1483
01:13:37.119 --> 01:13:40.039
quarter panel at Buckles. You know, eight thousand dollars. My

1484
01:13:40.079 --> 01:13:42.960
insurance went from nineteen hundred dollars a year to forty

1485
01:13:42.960 --> 01:13:45.159
one hundred dollars a year. They are going to get

1486
01:13:45.159 --> 01:13:48.319
that eight thousand dollars back from me if it kills them.

1487
01:13:48.600 --> 01:13:51.119
Speaking of regional banks, since you just use regional banks,

1488
01:13:51.159 --> 01:13:53.520
they were able to compete with those rates, right, I.

1489
01:13:53.600 --> 01:13:55.640
Use the credit Union. It's not a regional bank.

1490
01:13:55.720 --> 01:13:56.960
I'm not considered a regional bank.

1491
01:13:57.000 --> 01:13:59.079
They're considered different making a credit unions.

1492
01:13:59.119 --> 01:14:03.319
Two different things, yeah, different different, different chargers, different chargers.

1493
01:14:03.960 --> 01:14:06.680
That was drunken Miller. I think that had the always

1494
01:14:06.720 --> 01:14:07.479
a drunken.

1495
01:14:07.199 --> 01:14:12.079
Biler drunk Yeah, okay. Another etf uranium that Scott sold off.

1496
01:14:12.119 --> 01:14:14.479
Another one I like in that space is NLR has

1497
01:14:14.520 --> 01:14:17.359
more of some of the nuclear plays in it. We

1498
01:14:17.720 --> 01:14:20.159
talked about how that space is maybe still a couple

1499
01:14:20.119 --> 01:14:22.960
of years away, but that is going to continue to

1500
01:14:22.960 --> 01:14:25.399
get more and more adoption because of the need for

1501
01:14:25.840 --> 01:14:29.000
the energy grid to be built out on more sustainable renewables,

1502
01:14:29.000 --> 01:14:30.720
not the ones we have right now that just make

1503
01:14:30.760 --> 01:14:34.439
the desert look terribly ugly and don't really work and

1504
01:14:34.720 --> 01:14:38.199
kill more environmental How can environmentalists be so okay with

1505
01:14:38.239 --> 01:14:40.079
these wind turbines and then you go to a winterbine

1506
01:14:40.119 --> 01:14:44.039
there's like fifteen dead birds at the bottom of it. Yeah,

1507
01:14:44.079 --> 01:14:45.680
you know, it's like and then you and you and

1508
01:14:45.760 --> 01:14:47.279
you see these wind turbines they have on the off

1509
01:14:47.319 --> 01:14:49.039
the coast, and then all these dead whales that are

1510
01:14:49.119 --> 01:14:52.600
washing up the shore. And if you're an environmental soly

1511
01:14:52.600 --> 01:14:54.359
you care about then all of a sudden, you also

1512
01:14:54.359 --> 01:14:57.199
promote the same things that are killing the things you're

1513
01:14:57.239 --> 01:14:57.720
trying to say.

1514
01:14:59.479 --> 01:15:01.199
They just sit there because they don't even work anymore.

1515
01:15:01.239 --> 01:15:02.000
They don't go fix them.

1516
01:15:02.079 --> 01:15:04.840
Yeah, but people don't understand. The windmills out in the ocean,

1517
01:15:04.920 --> 01:15:08.000
they make noise. That vibration whales and dolphin they're super

1518
01:15:08.079 --> 01:15:11.800
sensitive to those noise disorients them and all of a sudden,

1519
01:15:11.960 --> 01:15:13.439
they don't know where they're going and then they die.

1520
01:15:13.920 --> 01:15:17.000
It happens a lot, and it's just it's crazy how

1521
01:15:17.479 --> 01:15:21.560
you see these policies of ESG promoting one thing, and

1522
01:15:21.640 --> 01:15:23.800
I think you know, evs are one of those things.

1523
01:15:24.079 --> 01:15:26.119
It seems like a great idea. But when you actually

1524
01:15:26.119 --> 01:15:28.920
go into the nitty gritty of where these inputs come from,

1525
01:15:29.239 --> 01:15:30.600
and you go to the mines and you go to

1526
01:15:30.600 --> 01:15:34.000
how they're actually impacting the environments around where those inputs

1527
01:15:34.039 --> 01:15:37.439
come from, you realize, oh, this isn't actually a better solution.

1528
01:15:37.560 --> 01:15:39.760
We're just helping ourselves feel better when we sleep at night.

1529
01:15:40.079 --> 01:15:43.159
It doesn't actually change anything. It probably actually makes things worse.

1530
01:15:43.760 --> 01:15:46.399
And I think we see that also with way California

1531
01:15:46.439 --> 01:15:49.319
does their thing. Think about all their wild fires. If

1532
01:15:49.319 --> 01:15:51.960
they would actually clear the butt brush every now and.

1533
01:15:51.880 --> 01:15:56.680
Then what happens, right, But they don't because you can't

1534
01:15:56.680 --> 01:15:58.479
cut down trees, and then all of a sudden you

1535
01:15:58.520 --> 01:15:59.319
get all the fire.

1536
01:15:59.600 --> 01:16:01.880
It's like, okay, well, which one do you want? Right?

1537
01:16:01.920 --> 01:16:04.000
All the trees that cut down fire, and then you

1538
01:16:04.000 --> 01:16:06.720
have these homes, then you have these crazy insurance policies

1539
01:16:06.720 --> 01:16:08.520
that come with it, or you just manage the brush

1540
01:16:08.560 --> 01:16:09.239
in the first place.

1541
01:16:10.000 --> 01:16:14.880
Speaking of fire, bullying's on fire again. Is A Stock

1542
01:16:15.000 --> 01:16:17.479
is up twenty one percent in the last ninety days.

1543
01:16:17.520 --> 01:16:20.920
That's unbelievable. It's just nobody's talking about It's kind of

1544
01:16:20.920 --> 01:16:24.119
going away, and that's hard to touch still, is it is?

1545
01:16:24.439 --> 01:16:26.359
It's hard to get behind it right now. I think

1546
01:16:26.359 --> 01:16:28.119
what they need, Dylan, is for people to quit talking

1547
01:16:28.119 --> 01:16:30.399
about them. And that's exactly what's happened. Yeah, people who

1548
01:16:30.479 --> 01:16:33.399
quit talking about for them. Good news. Stock's up twenty

1549
01:16:33.399 --> 01:16:35.119
one percent in the last ninety days. Now, it is

1550
01:16:35.199 --> 01:16:39.319
still the worst performing Dove stock, but Nike's catching up.

1551
01:16:40.000 --> 01:16:43.680
Nike's catching up. Nike continues to struggle that the stock

1552
01:16:43.800 --> 01:16:46.720
sank more than seven percent on Friday despite beating low

1553
01:16:46.840 --> 01:16:51.239
expectations on quarterly earnings. They did show a year over

1554
01:16:51.319 --> 01:16:54.319
year decline in revenue and earnings, which is never good.

1555
01:16:54.600 --> 01:16:59.039
Company's going backwards, and the company CEO said Nike's turnaround

1556
01:16:59.079 --> 01:17:02.319
plan could cake longer than anticipating.

1557
01:17:02.439 --> 01:17:04.640
I think their weight idea was a terrible one. I

1558
01:17:04.640 --> 01:17:06.960
don't get why they try to sell weights. I mean,

1559
01:17:07.000 --> 01:17:08.560
if I'm someone who wants to buy weights, why would

1560
01:17:08.560 --> 01:17:11.079
I spend more money for a Nike brand weight? Yeah,

1561
01:17:11.199 --> 01:17:11.960
weights are weights.

1562
01:17:12.199 --> 01:17:12.399
They do.

1563
01:17:12.640 --> 01:17:14.399
They weighed the same thing. Yeah, why do I need

1564
01:17:14.439 --> 01:17:15.359
a Nike sign on it?

1565
01:17:16.239 --> 01:17:17.960
They thought they were buying was Nike. I mean they

1566
01:17:18.000 --> 01:17:21.079
also for years they were in Nike Golfer. They finally

1567
01:17:21.199 --> 01:17:22.199
killed that division.

1568
01:17:24.359 --> 01:17:27.600
We actually liked. I like Nike Golf from Nike.

1569
01:17:28.800 --> 01:17:30.640
Want there, but it still died off.

1570
01:17:31.159 --> 01:17:34.000
Yeah, I mean I get the clubs, right, yeah, but

1571
01:17:34.479 --> 01:17:37.159
I feel like a lot of people buy Nike golf apparel.

1572
01:17:37.239 --> 01:17:38.039
It was a big thing.

1573
01:17:38.960 --> 01:17:40.760
Yeah, yeah, the apparel. I thought they were still doing

1574
01:17:40.760 --> 01:17:42.359
the apparel. I thought it was the equipment they stopped.

1575
01:17:42.560 --> 01:17:44.720
They did golf all a long time ago. The clubs

1576
01:17:44.760 --> 01:17:47.159
they were killing off. Maybe they stopped at all, but

1577
01:17:47.199 --> 01:17:48.600
I thought it was just the equipment.

1578
01:17:49.039 --> 01:17:51.520
Well, they lost Tiger. I'm pretty sure they don't do well.

1579
01:17:51.520 --> 01:17:55.479
They did Tiger anymore Sunday Red. But I mean they

1580
01:17:55.760 --> 01:17:58.720
try things and the weight stuff might not work. But

1581
01:17:59.079 --> 01:18:02.520
when you're in the athletic where world, you're gonna try

1582
01:18:02.560 --> 01:18:05.880
weights eventually, and you're that big a company. But if

1583
01:18:05.880 --> 01:18:08.119
it does take off, your geniuses.

1584
01:18:08.319 --> 01:18:10.399
I do like a company thinking outside the box, though,

1585
01:18:10.439 --> 01:18:14.159
how far can we take this logo? What what areas

1586
01:18:14.239 --> 01:18:17.359
can we get into that nobody's thought about that maybe

1587
01:18:17.439 --> 01:18:21.640
would make some sense in todd Like you're gonna have failures, right,

1588
01:18:21.920 --> 01:18:24.239
You're gonna have things that are just well that didn't

1589
01:18:24.279 --> 01:18:26.319
take off like we'd hoped, whether it be the golf

1590
01:18:26.399 --> 01:18:27.359
or whether it be the weights.

1591
01:18:27.520 --> 01:18:30.399
Yeah, I mean they should just be buying every single

1592
01:18:31.479 --> 01:18:35.680
Big Leagues jerseys and be selling those and selling the apparel.

1593
01:18:36.319 --> 01:18:38.039
That's what they'll be good. That's what they're good at.

1594
01:18:38.239 --> 01:18:39.399
Yeah, that is what they're good at.

1595
01:18:39.479 --> 01:18:41.680
Yeah, they need I mean they're having a whole fiasco

1596
01:18:41.720 --> 01:18:45.279
with MLB. I think it's uh, I forgot the new

1597
01:18:45.279 --> 01:18:48.680
company that took over the MLB uniforms, but they're they

1598
01:18:48.720 --> 01:18:51.279
kind of assessed cheped out on the fabrics. It's like

1599
01:18:51.279 --> 01:18:53.359
see through they don't like it, so they got to

1600
01:18:53.439 --> 01:18:55.840
change it all so Nikes should jump in eventually, which

1601
01:18:55.840 --> 01:18:56.680
they probably will.

1602
01:18:57.079 --> 01:19:00.840
Yeah, I mean, I think Nike extended their project with and.

1603
01:19:01.119 --> 01:19:05.720
It's also they got Jordan Jordan Brand is expanding their

1604
01:19:05.800 --> 01:19:07.560
uniforms a lot quickly.

1605
01:19:07.640 --> 01:19:10.399
Yes, and you see College is now sponsored by Jordan Brand,

1606
01:19:10.439 --> 01:19:12.239
which which helped Nike as well.

1607
01:19:13.520 --> 01:19:16.560
Yeah, I agree. You talked about the economy being strong

1608
01:19:17.079 --> 01:19:19.800
and fed X is often seen as a proxy for

1609
01:19:19.840 --> 01:19:22.279
the global economy open to eight percent higher on Friday.

1610
01:19:22.600 --> 01:19:27.039
It reported very strong results above expectation, and of course

1611
01:19:27.039 --> 01:19:29.119
they then they went one step further in said they're

1612
01:19:29.159 --> 01:19:30.880
going to spin off their freight business.

1613
01:19:31.159 --> 01:19:33.720
I think, like you said, when Amazon being such a

1614
01:19:33.800 --> 01:19:36.680
dominant player in that space now more and more, it's

1615
01:19:36.720 --> 01:19:40.159
hard to gauge that one. As the economy, I.

1616
01:19:40.399 --> 01:19:42.199
Can see that, but they are one of the few

1617
01:19:42.199 --> 01:19:45.399
companies that operates globally right in that space, and so

1618
01:19:45.439 --> 01:19:46.319
that's kind of we do.

1619
01:19:46.359 --> 01:19:50.760
Know to be fair. Internationally has way way underperformed us. Well,

1620
01:19:50.880 --> 01:19:54.039
we have killed it America wise this year. Compared to

1621
01:19:54.079 --> 01:19:57.039
the rest of the world, it's not even close. So

1622
01:19:57.279 --> 01:19:59.520
that doesn't make sense too. If you're having a global

1623
01:19:59.520 --> 01:20:02.920
presence instead of just a domestic American presence, you shouldn't

1624
01:20:03.000 --> 01:20:03.600
do as well.

1625
01:20:03.800 --> 01:20:06.880
That's a good point. We got out of our international

1626
01:20:07.319 --> 01:20:09.279
holdings a couple of years ago, and it was the

1627
01:20:09.319 --> 01:20:11.920
smart one of the smartest things we ever did. Smartest

1628
01:20:11.920 --> 01:20:14.640
thing we ever did was was go to individual short

1629
01:20:14.720 --> 01:20:18.279
term bonds before interest rates started rising into what March

1630
01:20:18.319 --> 01:20:21.079
of twenty one, I think it was. That's probably the

1631
01:20:21.119 --> 01:20:25.079
single smartest thing we ever did, because when you have

1632
01:20:25.159 --> 01:20:29.239
a portfolio of this balance between growth and fixed income,

1633
01:20:29.479 --> 01:20:33.159
equity and fixed income, you want the fixed income part

1634
01:20:33.439 --> 01:20:37.680
in theory to be stable. And had we not done that,

1635
01:20:37.920 --> 01:20:40.800
we saw fixed income even US Treasury long term US

1636
01:20:40.840 --> 01:20:44.039
Treasury bonds dropped thirty and forty percent in value. So

1637
01:20:44.119 --> 01:20:46.960
if you've got the stable part of your portfolio dropping

1638
01:20:47.000 --> 01:20:49.359
thirty or forty percent of value, that's not good.

1639
01:20:49.439 --> 01:20:52.840
Membrolla headlines death to the sixty forty portfolio question marks.

1640
01:20:53.079 --> 01:20:56.720
Yeah, I remember that. Well, yeah, and I can see

1641
01:20:56.720 --> 01:20:59.119
that if all you're using on the fixed income side

1642
01:20:59.199 --> 01:21:01.880
is mutual funds. Uh. The only way a mutual fund

1643
01:21:02.000 --> 01:21:04.600
is ever gonna get whole is if interest rates come

1644
01:21:04.640 --> 01:21:06.479
back to where they were when it started, and where

1645
01:21:06.479 --> 01:21:09.960
they were was zero, and we're probably not gonna see

1646
01:21:09.960 --> 01:21:10.479
that again.

1647
01:21:11.520 --> 01:21:15.399
What happened to Micron stuck this week? It's got destroyed

1648
01:21:15.439 --> 01:21:16.439
down twenty percent.

1649
01:21:16.439 --> 01:21:19.039
Got crushed after it's just a high beta stock. I

1650
01:21:19.119 --> 01:21:21.800
think again, you know, well, they're gonna get reported, they're

1651
01:21:21.800 --> 01:21:24.680
gonna get included with micro Strategy into an ASDAK one

1652
01:21:24.720 --> 01:21:27.560
hundred and so you know, you get a huge increase

1653
01:21:27.560 --> 01:21:28.439
off that news.

1654
01:21:29.039 --> 01:21:32.560
It's gonna sell off their data center. Data center revenue

1655
01:21:32.640 --> 01:21:33.680
jumps by four hundred.

1656
01:21:34.479 --> 01:21:38.359
Yeah, but they're expensive. They probably needed to jump by

1657
01:21:38.359 --> 01:21:40.680
eight justify the price.

1658
01:21:41.479 --> 01:21:43.479
I think. I think the big problem with Micron is

1659
01:21:43.520 --> 01:21:46.640
the outlook. They gave a cautious outlook, which was surprising

1660
01:21:46.640 --> 01:21:49.079
because everybody thought, man, we're hitting it on all cylinders

1661
01:21:49.119 --> 01:21:52.119
here and let's go. And they reported, like you said,

1662
01:21:52.119 --> 01:21:55.239
see bass results that we're above expectations, and the dock

1663
01:21:55.439 --> 01:22:00.399
just got crushed because the CEO is be in a

1664
01:22:00.520 --> 01:22:04.159
slow down in cell phones and it was one other

1665
01:22:04.199 --> 01:22:07.159
component and I think it was PC's right, it could

1666
01:22:07.159 --> 01:22:10.560
be PCs and another analyst I follow said, he's nuts.

1667
01:22:10.800 --> 01:22:13.159
I don't know how he's seeing that, because that's not happening.

1668
01:22:13.880 --> 01:22:17.399
We're not seeing a slow down in either of those spaces.

1669
01:22:18.239 --> 01:22:21.880
I don't know, we'll see. How about how about Nissan

1670
01:22:22.000 --> 01:22:26.159
and Honda talking about merging. Nissan and Honda, that a

1671
01:22:26.399 --> 01:22:31.119
big merger, big merger. It would be the third largest

1672
01:22:31.479 --> 01:22:37.960
uh carmaker in the world behind get this, Tesla, excuse me,

1673
01:22:38.119 --> 01:22:42.520
behind h Toyota. And who's number two? Vovo?

1674
01:22:43.520 --> 01:22:46.720
No, I think you just gave yourself up. No, not Tesla.

1675
01:22:46.840 --> 01:22:51.159
No, it's a wagon. Oh dang it, that's what I meant.

1676
01:22:51.199 --> 01:22:51.680
Not Volvo.

1677
01:22:52.359 --> 01:22:55.760
I met the Okay, okay, I did. I'll give you

1678
01:22:55.800 --> 01:22:57.760
a duel over he got.

1679
01:22:58.000 --> 01:22:59.119
I would have had the Toyota one.

1680
01:22:59.159 --> 01:23:01.039
Not I did. Never would have gotten that, folks. Flag

1681
01:23:01.079 --> 01:23:04.199
And being the number two car produce in Europe, Yeah,

1682
01:23:04.279 --> 01:23:06.720
it is. And and the interesting part about it is

1683
01:23:06.840 --> 01:23:11.880
they're merging because they're struggling to keep up with Tesla

1684
01:23:12.279 --> 01:23:15.880
and China's by d in the electric space. So here's

1685
01:23:16.239 --> 01:23:18.279
you know, you look at what's the future of electric

1686
01:23:18.560 --> 01:23:21.119
here's two of the largest car companies in the world

1687
01:23:21.199 --> 01:23:24.560
combining so they can do a better job at producing

1688
01:23:25.159 --> 01:23:29.439
electric vehicles. If you think that's a that's a thing

1689
01:23:29.439 --> 01:23:31.199
of the past is gonna die off and you're not

1690
01:23:31.199 --> 01:23:34.600
gonna have to deal with it, I think again. The

1691
01:23:34.640 --> 01:23:36.039
other thing is if you're a hater, you have to

1692
01:23:36.079 --> 01:23:39.720
ask yourself why am I hater? You know? There's an

1693
01:23:39.760 --> 01:23:42.119
awful lot of awful lot of good things. Uh.

1694
01:23:42.600 --> 01:23:45.520
And and Dave isn't talking to you guys who think

1695
01:23:45.640 --> 01:23:47.880
that the EV isn't good for the environment. He's not

1696
01:23:47.920 --> 01:23:51.000
debating that. He's just sayings are growing.

1697
01:23:51.359 --> 01:23:54.279
I'm saying, and I'm also to hear.

1698
01:23:54.239 --> 01:23:55.800
You all don't be mad at Dave.

1699
01:23:55.840 --> 01:23:57.359
They'll be mad at me. No, Dan, I'm just saying

1700
01:23:57.359 --> 01:23:59.920
as a as a A and a listener said the

1701
01:24:00.079 --> 01:24:01.720
the day that I don't use my break. I was

1702
01:24:01.720 --> 01:24:04.279
talking about how breaks there take me. What listener said

1703
01:24:04.359 --> 01:24:06.520
is probably because he drives us low. Yeah, what do

1704
01:24:06.560 --> 01:24:08.039
you think, Sebastian.

1705
01:24:07.920 --> 01:24:10.159
Would you say you drive like a bet out of hell?

1706
01:24:10.279 --> 01:24:12.520
Well, if if you see a black blur going by,

1707
01:24:12.560 --> 01:24:14.880
it was probably me. We'll be back with the last

1708
01:24:14.920 --> 01:24:19.000
segment without white hair, with white hair. Welcome back to

1709
01:24:19.000 --> 01:24:21.079
the Money Matters Show. This is our last segment. I'm

1710
01:24:21.119 --> 01:24:25.560
here with David Sherwood, Sebastian Borsini, and Dylan Greenberg. The

1711
01:24:25.760 --> 01:24:29.000
Fed took hold of this week's price action. They had

1712
01:24:29.000 --> 01:24:31.760
a hawkish cut. They said, two cuts in twenty twenty

1713
01:24:31.840 --> 01:24:34.560
five instead of the fourth they had expected in September.

1714
01:24:34.600 --> 01:24:37.680
Inflation being a little more sticky was the reason for it,

1715
01:24:38.039 --> 01:24:41.000
and likely won't have another rate cut until maybe around

1716
01:24:41.000 --> 01:24:41.439
the March. Here.

1717
01:24:41.479 --> 01:24:45.119
I don't think they even talk again until February and

1718
01:24:45.159 --> 01:24:48.479
then they meet it probably rate cut season March again.

1719
01:24:49.359 --> 01:24:52.359
But the earnings next I mean economic report next week

1720
01:24:52.439 --> 01:24:55.760
or nothing, and then earnings aren't for another couple of weeks.

1721
01:24:55.960 --> 01:24:58.000
So it seems like it's really just going to be

1722
01:24:58.800 --> 01:25:01.680
a lot of just inflows, because does January one starts,

1723
01:25:01.680 --> 01:25:03.720
you got a lot of retirement inflows coming in.

1724
01:25:03.840 --> 01:25:05.680
Yeah, a ton of money coming into the market. I

1725
01:25:05.680 --> 01:25:08.640
think the Santa Claus rally, and this is from memory,

1726
01:25:08.680 --> 01:25:11.000
so correct me if I'm wrong. Last three days of

1727
01:25:11.159 --> 01:25:14.399
last three calendar days of December, first two calendar days

1728
01:25:14.399 --> 01:25:17.479
of January. I think if I remember correctly, for the

1729
01:25:17.479 --> 01:25:19.119
Santa Claus rally, So we're coming up on it.

1730
01:25:19.199 --> 01:25:21.439
Not around Christmas, that would make no sense.

1731
01:25:21.600 --> 01:25:24.640
Yeah, it is, We'll we'll have to do some housekeeper

1732
01:25:24.680 --> 01:25:26.680
can bring that back. Chick. I think it is last

1733
01:25:26.680 --> 01:25:28.760
three days calendar days of the year. Maybe you can

1734
01:25:28.800 --> 01:25:31.359
google it while you're sitting there. Well, we got the

1735
01:25:31.359 --> 01:25:34.039
Santa Claus Rally, which is a traditional strong time of

1736
01:25:34.079 --> 01:25:36.840
the year for the market. We've got January, which is

1737
01:25:37.560 --> 01:25:40.399
sees the biggest inflow of any month of the year

1738
01:25:40.399 --> 01:25:44.000
into retirement accounts. January typically one of the stronger months

1739
01:25:44.000 --> 01:25:48.079
of the year. You've got Trump two point zero beginning

1740
01:25:48.119 --> 01:25:51.479
the end of January, which is creating a lot of excitement.

1741
01:25:52.359 --> 01:25:57.079
I just with my decades of experience, have a hard

1742
01:25:57.119 --> 01:26:01.279
time seeing the market going much haigh right now with

1743
01:26:01.439 --> 01:26:04.520
interest rates rising. Just that's the key. We need to

1744
01:26:04.520 --> 01:26:07.600
have interest rates start to decline, and I don't see

1745
01:26:07.600 --> 01:26:09.920
that happening over the next four to five weeks.

1746
01:26:10.119 --> 01:26:13.560
Yeah, I mean I don't know, technically, technical, Yeah, technically

1747
01:26:13.560 --> 01:26:15.439
I've seeing the rates do break out here.

1748
01:26:16.720 --> 01:26:17.600
Santa Claus Y.

1749
01:26:18.279 --> 01:26:21.399
Santa Claus Rally says it starts December twenty fourth, goes

1750
01:26:21.439 --> 01:26:24.600
to January third. It's the last five trading days of December,

1751
01:26:24.640 --> 01:26:25.560
first two trading.

1752
01:26:25.399 --> 01:26:27.760
Days, last five, and not the last three.

1753
01:26:27.640 --> 01:26:31.439
Last five, first two of January. I thought it would

1754
01:26:31.479 --> 01:26:33.840
make sense that it starts before Christmas. Well, at least

1755
01:26:33.840 --> 01:26:34.239
the day.

1756
01:26:34.199 --> 01:26:36.560
Half of a round Christmas, so they are okay, so last.

1757
01:26:36.479 --> 01:26:38.079
This year, it might start because I mean Monday is

1758
01:26:38.119 --> 01:26:39.680
the last four day before Christmas.

1759
01:26:39.760 --> 01:26:42.319
Yeah, and we're going to see you typically see a

1760
01:26:42.359 --> 01:26:44.239
lot of tax loss sally in the last week, but

1761
01:26:44.279 --> 01:26:46.039
I think that this year a lot of that's got

1762
01:26:46.079 --> 01:26:48.319
out of the way. There isn't. The other side of

1763
01:26:48.359 --> 01:26:50.439
that is, there's not a lot of losses to take

1764
01:26:50.479 --> 01:26:54.000
this year because it's been two spectacular years in a row. Yeah.

1765
01:26:54.600 --> 01:26:58.159
In Intel, most people go.

1766
01:26:58.720 --> 01:27:00.960
I mean, mistake me of the I'm not a tax expert,

1767
01:27:00.960 --> 01:27:02.840
but I think you do have a two year carry

1768
01:27:02.880 --> 01:27:05.159
forward loss. Some people could be using.

1769
01:27:05.840 --> 01:27:08.760
I thought it was three years to carry forward.

1770
01:27:08.800 --> 01:27:12.439
Yeah, lost carry forwards forever. Oh it's three grand three grand, yeah,

1771
01:27:12.560 --> 01:27:14.359
three lost carry forwards for the rest of your life.

1772
01:27:14.399 --> 01:27:16.239
Capital loss car you can only use three grand.

1773
01:27:16.439 --> 01:27:18.520
You can only use three grand for the year. That's

1774
01:27:19.640 --> 01:27:22.000
if you take a loss on something, you can use

1775
01:27:22.039 --> 01:27:26.520
that loss to offset gains in the following year or

1776
01:27:26.560 --> 01:27:29.000
that year, and then you can carry three thousand of

1777
01:27:29.039 --> 01:27:31.800
that loss forward to the next year. And you can

1778
01:27:31.840 --> 01:27:34.239
do that indefinitely. Believe me, I've been doing it.

1779
01:27:34.399 --> 01:27:37.000
Wait so if I wait a minute, that's what I'm saying.

1780
01:27:37.039 --> 01:27:39.079
So if I lost one hundred thousand last year and

1781
01:27:39.159 --> 01:27:40.920
I made two hundred thousand this year, I could carry

1782
01:27:40.960 --> 01:27:42.920
forward that loss and I or really only made one

1783
01:27:42.960 --> 01:27:46.199
hundred thousand this year. Yes, yes, yeah, so okay, yeah,

1784
01:27:46.279 --> 01:27:49.039
but if but the three thousand limits it's saying the

1785
01:27:49.079 --> 01:27:49.479
next year.

1786
01:27:49.520 --> 01:27:52.359
I did say it a little confusing. Three three thousand

1787
01:27:52.520 --> 01:27:54.279
is the maximum you can take if you don't have

1788
01:27:54.359 --> 01:27:57.079
gains to offset it. So if you had no gain,

1789
01:27:57.560 --> 01:27:59.119
if you had no gains and you had a fifty

1790
01:27:59.159 --> 01:28:02.319
thousand dollars loss, the maximum wash you can take it's

1791
01:28:02.359 --> 01:28:04.199
three gotcha, I don't believe you.

1792
01:28:04.199 --> 01:28:04.920
You've been doing it.

1793
01:28:04.960 --> 01:28:07.039
You do that? Oh yeah, because I'm a day trader.

1794
01:28:07.800 --> 01:28:11.600
That money every single year I look at it. That's

1795
01:28:11.640 --> 01:28:15.800
the expense of day trading. It's all tuition. What's like

1796
01:28:15.840 --> 01:28:18.880
going to movies. It's like going to movies, going out

1797
01:28:18.920 --> 01:28:20.399
to dinner, and you know, day trading.

1798
01:28:20.800 --> 01:28:23.920
They all cost moneypening.

1799
01:28:23.439 --> 01:28:25.119
Decades, decade.

1800
01:28:27.520 --> 01:28:29.319
He's an investor, not a trader.

1801
01:28:29.439 --> 01:28:32.279
Yeah, that's not my investing money, but my trading money.

1802
01:28:32.279 --> 01:28:38.560
I always lose. It's like a gamble. It's like Steve

1803
01:28:38.600 --> 01:28:41.399
Wynn was interviewed by CBS and they ask him how

1804
01:28:41.399 --> 01:28:44.239
many people you've seen over the years walk away net winners.

1805
01:28:44.239 --> 01:28:46.520
He goes, none. None. You didn't even think about it. None.

1806
01:28:47.399 --> 01:28:49.520
And that's pretty much how it is in day trading.

1807
01:28:50.079 --> 01:28:52.359
And I know there's people out there it's a little

1808
01:28:52.960 --> 01:28:55.079
I make my living day trading, Well, good for you.

1809
01:28:55.960 --> 01:28:56.319
I don't.

1810
01:28:56.520 --> 01:29:02.279
I'm bad, so I don't. And I'm not gonna brag

1811
01:29:02.319 --> 01:29:04.880
about my day trading, that's for sure. And I don't

1812
01:29:04.960 --> 01:29:07.640
day trade with clients money because I'm just not very

1813
01:29:07.640 --> 01:29:08.119
good at it.

1814
01:29:08.199 --> 01:29:11.399
No, we invest based on risk tolerance, and because when

1815
01:29:11.520 --> 01:29:14.079
markets drop, people freak out, it's the time to revisit

1816
01:29:14.119 --> 01:29:16.119
your risk tolerance. You've got a couple of calls, why

1817
01:29:16.159 --> 01:29:18.399
is the market selling off? You know, those are fine,

1818
01:29:18.439 --> 01:29:20.079
we'll just answer them. But if you're just like, look,

1819
01:29:20.239 --> 01:29:22.880
the market's selling off, I need to get out. No, No,

1820
01:29:23.159 --> 01:29:27.920
that's don't be brash, right that first revisit a risk tolerance.

1821
01:29:27.680 --> 01:29:29.479
The problem go ahead time.

1822
01:29:29.560 --> 01:29:31.560
Well, I was just saying, when you revisit the risk tolerance,

1823
01:29:31.560 --> 01:29:35.920
you can actually take yourself out of the emotional immediate reaction.

1824
01:29:36.039 --> 01:29:37.800
You were going to experience and kind of be more

1825
01:29:38.039 --> 01:29:39.439
analytical and objective.

1826
01:29:39.840 --> 01:29:41.960
Right, If you find yourself looking at your account online

1827
01:29:41.960 --> 01:29:45.560
every day, just stop it. It's just that's so counterproductive.

1828
01:29:45.920 --> 01:29:49.079
And if you if you find yourself concerned about the

1829
01:29:49.119 --> 01:29:51.720
market when it does a one day drop, literally one

1830
01:29:51.800 --> 01:29:54.760
day was Wednesday was down and Friday was up as

1831
01:29:54.840 --> 01:29:57.000
much as it was down on Wednesday, So you know,

1832
01:29:57.079 --> 01:29:57.600
get over it.

1833
01:29:57.720 --> 01:29:59.119
You know, what I think is a good example is

1834
01:29:59.119 --> 01:30:02.159
if you were planted a tree, if you checked every

1835
01:30:02.199 --> 01:30:06.359
single day, you're not going to notice the growth. The

1836
01:30:06.399 --> 01:30:08.439
same way if you wait two weeks and then you

1837
01:30:08.479 --> 01:30:11.159
come back, you've got to see a big growth difference.

1838
01:30:11.199 --> 01:30:16.479
You're like, well, obviously you have water, but if you

1839
01:30:16.600 --> 01:30:18.560
check every single day, you're not going to notice. It's

1840
01:30:18.600 --> 01:30:20.680
like kind of like us, if we're around each other

1841
01:30:20.760 --> 01:30:23.000
every single day, we get a haircut, you might not notice,

1842
01:30:23.000 --> 01:30:24.720
whereas you see someone once a week and you get

1843
01:30:24.720 --> 01:30:27.239
a haircut, and then you're like, oh, you got a haircut.

1844
01:30:27.399 --> 01:30:29.479
So it's it's like the less you notice, the more

1845
01:30:29.560 --> 01:30:33.239
you notice the gains, and you won't see the losses

1846
01:30:33.319 --> 01:30:35.720
because all you got to give it is time.

1847
01:30:36.119 --> 01:30:37.560
You know. I kind of like that, and there is

1848
01:30:37.760 --> 01:30:42.000
it's counter productive to look. If after eleven hundred point

1849
01:30:42.039 --> 01:30:43.279
down day, I get a call from the sprine, I

1850
01:30:43.359 --> 01:30:45.720
never looked at my account, but I thought it better today. Really,

1851
01:30:45.760 --> 01:30:48.880
you thought you better today? Why you like? You like pain?

1852
01:30:50.560 --> 01:30:53.479
What is wrong with you? Yeah? How about last month

1853
01:30:53.560 --> 01:30:55.600
when the market was up? Did you look then? Everyone

1854
01:30:55.640 --> 01:30:58.960
never did look then? Really you only wanted look when

1855
01:30:59.000 --> 01:31:02.199
it hurts? Huh Okay, sounds to me like a person

1856
01:31:02.239 --> 01:31:05.800
it calls you to get mad. Well, no, it's not mad.

1857
01:31:05.880 --> 01:31:09.920
But but shouldn't we be doing something? Yeah, like not look.

1858
01:31:11.680 --> 01:31:14.560
That'd be a star. That'd be the first. That'd be

1859
01:31:14.800 --> 01:31:18.119
step number one, turn off the computer. You know, like

1860
01:31:18.159 --> 01:31:21.359
somebody walk like he goes to a doctor and he goes, doctor,

1861
01:31:21.399 --> 01:31:23.119
I hurt when I do when I do this, he goes,

1862
01:31:23.159 --> 01:31:26.720
We'll stop doing that. You know, duh, this is not

1863
01:31:26.880 --> 01:31:31.479
rocket science. Disney Uh, Disney's one that's just such a

1864
01:31:31.479 --> 01:31:34.399
puzzlement to me. There. Their new Mawana I movie was

1865
01:31:34.479 --> 01:31:36.199
number one at the box up the office for a

1866
01:31:36.239 --> 01:31:39.960
second straight week, but investors don't seem to care. Stock's

1867
01:31:40.000 --> 01:31:43.159
down seven percent in the past two weeks. Despite remember

1868
01:31:43.159 --> 01:31:44.960
a couple of weeks ago, I had that stellar earnings

1869
01:31:44.960 --> 01:31:48.640
report hitting on all cylinders. Uh, Streaming is doing great,

1870
01:31:49.199 --> 01:31:53.119
subscriptions are rising, theme park attendance is.

1871
01:31:53.119 --> 01:31:54.960
Going to see, consumers got new.

1872
01:31:54.880 --> 01:31:57.319
Ships were starting with our cruise lines are kicking it,

1873
01:31:57.560 --> 01:31:59.680
and the stock just took off and then just go.

1874
01:32:00.680 --> 01:32:03.079
It didn't fall apart, but it's like it just doesn't

1875
01:32:03.079 --> 01:32:06.720
seem to have any legs. Rosenblatt raised the price target

1876
01:32:06.720 --> 01:32:10.640
on Monday, Nobody cared on Wednesday. Morgan Stanley named it

1877
01:32:10.680 --> 01:32:13.960
the top pick. It actually did pick up a couple

1878
01:32:13.920 --> 01:32:17.199
of bucks on that day, but you just kind of wonder,

1879
01:32:17.279 --> 01:32:20.359
what's what's it going to take to get that stock going?

1880
01:32:20.880 --> 01:32:22.600
And I guess it's kind of like Ford. It's been

1881
01:32:23.079 --> 01:32:26.760
so boring for so long that nobody's interested in it.

1882
01:32:27.239 --> 01:32:30.880
What I saw Friday, Bitcoin and the S and P

1883
01:32:31.039 --> 01:32:34.760
five hundred very very interesting one day candles because you

1884
01:32:34.840 --> 01:32:37.319
opened down but you have this huge run up. And

1885
01:32:37.760 --> 01:32:39.720
in bitcoins was a little more interesting because it was

1886
01:32:39.760 --> 01:32:42.800
so much down, like it went down from ninety nine

1887
01:32:42.840 --> 01:32:45.119
to ninety two and finished back up at like ninety eight.

1888
01:32:45.520 --> 01:32:46.279
It was amazing.

1889
01:32:46.520 --> 01:32:47.479
It was just a big wick.

1890
01:32:47.600 --> 01:32:49.600
Yeah, if you want to be invested in that space,

1891
01:32:49.600 --> 01:32:50.159
strap it on.

1892
01:32:50.600 --> 01:32:53.800
But even the SMP, the SMP was down twenty five

1893
01:32:53.800 --> 01:32:57.199
base points finished up around two, right, So that's a

1894
01:32:57.319 --> 01:32:59.199
that's a big divergence for the SMP to have it

1895
01:32:59.279 --> 01:33:02.319
one day, And I think you can say that there's

1896
01:33:02.359 --> 01:33:05.079
a lot of buyers that came in and maybe there

1897
01:33:05.119 --> 01:33:07.399
wasn't as much sellers going into the weekend going into

1898
01:33:07.920 --> 01:33:10.600
the probably one of the lowest volume weeks of the

1899
01:33:10.640 --> 01:33:13.920
trading year. But I can't imagine all of a sudden,

1900
01:33:13.920 --> 01:33:16.960
you get a slew of sellers next week, and where's

1901
01:33:16.960 --> 01:33:19.880
that volume going to come from? So I think it

1902
01:33:20.199 --> 01:33:22.039
could be potentially that we see in a little bit

1903
01:33:22.079 --> 01:33:23.880
of a rally going into this end of the year,

1904
01:33:23.880 --> 01:33:26.319
of the Santa Claus rally. That one, there's not many

1905
01:33:26.359 --> 01:33:29.119
economic reports coming out that could make rates go higher

1906
01:33:29.159 --> 01:33:30.079
than where they are now.

1907
01:33:30.560 --> 01:33:33.039
It's also going to be real interesting in January the

1908
01:33:33.079 --> 01:33:36.199
tecond to see what happens with some of these extremely

1909
01:33:36.279 --> 01:33:40.439
highly appreciated names. If anything, there are things you can

1910
01:33:40.479 --> 01:33:43.319
do to hedge that ahead of time. In the case

1911
01:33:43.359 --> 01:33:46.439
of a Bitcoin, you can buy an inverse bitcoin ETF.

1912
01:33:46.880 --> 01:33:49.319
In the case of Nvidia, you can buy an inverse

1913
01:33:50.159 --> 01:33:52.319
and I've done some of that for clients where they're

1914
01:33:52.359 --> 01:33:54.319
concerned about the game but don't want to take it.

1915
01:33:54.359 --> 01:33:57.920
This year, we've actually gone ahead and hedged a portion

1916
01:33:58.039 --> 01:33:59.800
of that which we can do here.

1917
01:34:00.079 --> 01:34:02.600
So your thought process is at the start of the year,

1918
01:34:02.640 --> 01:34:04.279
all these people are going to lock in these games.

1919
01:34:04.640 --> 01:34:07.359
It seems like if you can get to January second

1920
01:34:07.479 --> 01:34:10.039
and you have an opportunity to lock in the game,

1921
01:34:10.399 --> 01:34:13.239
that you will not all of it, certainly. But if

1922
01:34:13.319 --> 01:34:16.960
bitcoin went from I don't todd what forty to forty

1923
01:34:17.000 --> 01:34:19.920
two one hundred thousand, you might be inclined to take

1924
01:34:20.000 --> 01:34:21.000
some of that off the table.

1925
01:34:21.039 --> 01:34:23.520
I can't imagine, though most do. Because if you think

1926
01:34:23.560 --> 01:34:25.920
about an Apple stock that has gone up since it's

1927
01:34:25.920 --> 01:34:27.800
gone up, I'm not going to sell my Apple stock.

1928
01:34:27.880 --> 01:34:32.000
No, Apple's not Nvidia or Bitcoin. Apple's different apples.

1929
01:34:32.199 --> 01:34:35.119
I think you're that's a personal opinion that's now subjective

1930
01:34:35.439 --> 01:34:38.760
because I I again, that's just your own opinion. The

1931
01:34:38.880 --> 01:34:41.239
video is the second largest company in the world, and

1932
01:34:41.319 --> 01:34:44.119
whether we think it's value there should be there or not.

1933
01:34:44.720 --> 01:34:45.960
Investors do think that.

1934
01:34:46.800 --> 01:34:49.000
Right, But Apple hasn't gone up four five hundred percent

1935
01:34:49.039 --> 01:34:50.199
in the last two years.

1936
01:34:50.079 --> 01:34:52.359
Not the last two years but when it was going up, right,

1937
01:34:52.439 --> 01:34:54.880
that stock never started going down because of that.

1938
01:34:55.079 --> 01:34:57.399
I mean, maybe big pullbacks in Apple, but I don't

1939
01:34:57.399 --> 01:34:58.199
know again, you.

1940
01:34:58.239 --> 01:35:00.680
Know what I mean. Whereas it's not like a a

1941
01:35:00.800 --> 01:35:03.279
majority of people locking and it might be a sub

1942
01:35:03.680 --> 01:35:06.680
three per share of the actual shareholders.

1943
01:35:06.760 --> 01:35:09.560
Maybe it's a giant nothing burger. I'm just thinking that.

1944
01:35:09.640 --> 01:35:11.960
On January second, it could be kind of interesting to

1945
01:35:12.000 --> 01:35:14.640
watch some of these high names to see if anything

1946
01:35:14.720 --> 01:35:15.960
does happen in them.

1947
01:35:16.079 --> 01:35:17.880
I just don't know why, Like, if you're not going

1948
01:35:17.960 --> 01:35:19.479
to take the game this year, why are you going

1949
01:35:19.560 --> 01:35:21.680
to be so quick to do it on January second?

1950
01:35:21.720 --> 01:35:24.600
For the next at tax for another year. You got

1951
01:35:24.600 --> 01:35:26.319
to pay tax until April twenty six.

1952
01:35:26.840 --> 01:35:28.560
But if you don't, but don't you have to if

1953
01:35:28.560 --> 01:35:30.119
you have your taxes too high, you have to do

1954
01:35:30.239 --> 01:35:31.560
quarterly payments anyways.

1955
01:35:32.039 --> 01:35:34.960
Is that not a thing I'm not I'm not gonna Yeah,

1956
01:35:35.279 --> 01:35:37.159
that's the question. For an account, it has to do it.

1957
01:35:37.199 --> 01:35:39.800
But we do see that in the market, nouf, we'll

1958
01:35:39.800 --> 01:35:41.920
see it this year or not. We're coming to the

1959
01:35:42.000 --> 01:35:43.840
end of the show. We thank you for taking time

1960
01:35:43.920 --> 01:35:45.960
to listen to us, because it'd be kind of silly

1961
01:35:45.960 --> 01:35:49.239
for us to talk if nobody was listening, right, we'd

1962
01:35:49.319 --> 01:35:51.279
like to be happy because it's that time of the

1963
01:35:51.359 --> 01:35:53.239
year to be happy, and we all want to be

1964
01:35:53.279 --> 01:35:56.199
healthy because if we're not healthy, we're probably not happy.

1965
01:35:56.600 --> 01:35:59.840
And Greenberg financial, but we're trying to be is profit

1966
01:36:01.039 --> 01:36:04.399
you next week? Happy holidays? Hmmm,