S&P 500 Record High: Top Strategies and Insights

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Good morning everybody. It's that time
again, Sunday morning, eight o'clock right

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here on seven ninety k S TEA. It is the Money Matter Show with

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Dean Greenberg. We'll be here for
two hours to bring you information about the

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markets. Make it a new high, pulling off? What do we expect?

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The one thing I'm going to tell
you use this pull back and then

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probably a few more days maybe or
wherever it is over the next couple of

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weeks to be a buyer. I'd
still believe the market is going to go

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through fifty five hundred and get to
fifty six hundred plus at some time,

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probably before the end of August.
Maybe. If not, then then by

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the end of the year. I
will be pulling back if we do that

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by the time we get to the
end of August, because I do think

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September October is kind of going to
be a little bit wishy washy, and

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it's going to be getting ready for
the election. And as you know,

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we've been talking in a long time
about this election about how different it will

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be depending on who gets in,
and it really comes down to regulations,

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taxes, immigrants, that's what we're
gonna see. That's gonna be different.

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So for the week, the Dow
was up one and a half percent,

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the S and P was up a
half a percent, the NAZAK was unchanged,

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and the equal weighted SMP for the
first time outdd the S and P

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five hundred and it was up one
point one percent for the month. Well,

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let's go year to date. Year
to day, Dow's up almost four

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percent, s and P's up fourteen
and a half, Daazac's up seventeen.

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The rest of two thousand is still
down zero point two percent, and they

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and they equal weighted smps up five
percent. So you heard a lot this

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week of okay, it's that these
tech stocks have gotten overdone where they're going

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to go, and they had a
little bit of a pullback. It was

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a little bit of a reversal there
on Thursday. They all rallied in the

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morning, got some profit taking,
fell down a little bit. Will they

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come back? I believe they will. Doesn't mean there's no risk. We

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talk about taking some money off the
table all the time when the position gets

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so big. Isn't the video another
apple where you don't really trade it,

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you just hold it because where's it
going to be in two years from now.

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I don't know. I know this. If it's taking up fifteen,

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twenty, twenty five thirty percent of
the portfolio, now you probably need to

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cut back. And that doesn't mean
you sell the whole thing. Take off

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ten percent. If you up thirty
percent, bring it back to whatever you're

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comfortable with. I don't like having
any real position more than ten percent,

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probably more like five percent when i'm
allocating. But sometimes you know, if

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you get to ten percent, it's
because of a company like Navidia that just

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has the product and it's a it's
wanting to generation type deal here where it

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can zoom so fast and still have
the reason for doing because the evaluations are

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low. But we're getting up to
where the valuations are gonna start making the

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stock trade back and forth for a
while until they could keep proving themselves that

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they can come out and show better
earnings. But the rest of them too.

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Broadcom got hit, AMD got hit. They've all basically got hit.

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But that doesn't mean they're not coming
back. It doesn't mean that no one's

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buying it. It's the same people
buying it last week when the stock was

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going up. It's the same people
this week. Buying it as a stock

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is going down, the earnings will
be there for a while and then it's

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like what happens after that? But
just be prudent, you know, everything

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just doesn't go straight up. You
remember Cisco, it was the darling.

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It was never gonna come down because
everyone needed Cisco equipment. Everybody needed it.

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Why did they need it? They
needed it because it was what was

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making the internet. Well, we
still have a Cisco equipment, but it's

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become a commodity. Cisco does great, but they haven't been able to really

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increase their their prices to the point
that they're a growth company anymore. They're

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just a steady company making a lot
of money and that reflects in the stock,

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and the stock doesn't go up that
much. IBM used to be the

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dolling of Wall Street. It's almost
it's so hard for IBM to move.

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But you still have these tech companies, which are Apple, which are Microsoft,

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which is Google, Amazon obviously in
the video, and they're all part

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of that AI tech world. Now
does everything get ahead of itself at times?

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Yes? Do I think this first
pullback is not going to be bought?

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No, I do think it'll be
brought But I could be wrong.

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That's why you take money off the
table. You reduce your position a little

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bit if it's too much of your
portfolio. The overall more I do think,

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and I said this before, that
for some reason, this week of

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June you get just like that's when
the pullback starts, like on June twentieth.

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History like repeats itself over and over
again. It seems like, but

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next week we walk into the end
of the quarter, and money managers like

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to window dress, buy stocks,
increase their positions, get rid of the

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ones they don't like, increase the
ones that they like. So on the

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report they show that they have a
great portfolio and they want the markets to

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go up. They don't want to
sell it off because guess what, fees

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are taken out at the end of
June. Bonuses are given to these money

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managers at the end of June,
hedge funds, all of them, they

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get big bonuses and at the end
of the quarters. So that's why a

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lot of times you see at the
end of the quarters the market's rallying.

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If they're not rallying, they're going
down. They knock it down real hard,

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so that way the next quarter they
have a much better way of getting

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it back. So economically, we
didn't have a lot of news this week,

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but we did have retail set and
they were down again. And then

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they and they and they ones that
uh they redid from the month before,

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they were down even bigger. So
what is that telling us. That's telling

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us the consumer is running out of
money. They're running out of money.

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They're holding back, the pulling back
a little bit. Even though what were

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being told us isn't the greatest economy. It's a good economy. Unemployments down

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supposedly, But it's a problem because
when you start seeing these numbers and you're

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head scratching, and even the experts
other than just ourselves that are in the

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business starts talking about they don't really
understand what's happening. Well, to me,

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it's pretty simple. They're manipulating the
numbers so they can go ahead and

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lower interest rates like they said they
wanted to in September. That's one of

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the reasons the market's rallied now.
The Federal Reserve is in a rock and

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a hard place. They don't want
to really raise rates, are lower rates

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because they know it's going to be
inflationary. We said this all year they

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thought there was going to be six
seven eight ones interest rate raises. I

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think they're now on the table.
They're trying to squeeze one in in September,

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get the election, and go the
other way. Now, is that

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right? I don't think it's right. We usually have no FED action a

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month or two before we have the
election, but some reason they keep talking

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about doing it. Well, what
does that do? It props the market

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up, because you know, if
interest rates get lowered, the first thing

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that happens it's the markets go higher. That's what's been doing anticipation. But

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don't get fooled. Do not get
fooled, because what happens usually is when

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the lowering rates is something down the
road that hits the markets, that brings

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it down. Earnings, growth,
economic numbers, all those things start getting

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worse if they keep lowering interest rates, because they can't continue to continue to

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lower interest rates because inflation's too high. But somehow, some way, they're

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gonna go ahead in lower rates even
though they're not at their inflation number of

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two percent, which bothers me because
I think that brings back stimulation, and

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if it brings back stimulation, it
brings back inflation if it brings back inflation,

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or are they gonna go ahead and
have to change courts and raise rates

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again, or is there gonna be
what usually happens and we'll get into the

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tail end of this. And why
they're thinking about raising lowing rates is because

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do they know that the economy is
gonna slow next year? Do they feel

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it's gonna happen, and do they
need to lower the rates to stimulate the

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economy before that does happen. Nobody
knows. I know this. It's very

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hard to believe anything anymore. I
am so tired and concerned actually about what

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we are told by politicians, the
media and how everyone gets, how everything's

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getting shaped, what's still five months
from the election, and what's hearing now

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that things that you hear, things
that you see, don't believe it,

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it's false. So the narrative out
there right now with politicians is if you

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agree with me, it's true.
But if it's not our narrative or a

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gender, it's not true. And
somebody's making it up. I mean,

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they are taking American people and believing
we are the stupidest people in the world.

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When they came out with what they
call cheap fakes of Biden shuffling off

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the stages in France. In America, okay, when Obama had to put

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his arm around around him and say, come on, this is the way

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we go where he stas off in
the space. We've seen it over and

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over again, and they have the
audacity to actually use the rhetoric that those

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videos have been altered to make him
look that way. They will not even

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allow us with our own eyes what
we see in real time to be truthful.

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Their narrative is, oh, someone's
making that up. It's the other

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party. They can't even be honest
about the stuff that's actually true, and

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it's both sides. So we go
into this election, what are we going

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to believe? What are we going
to trust? Nothing? That's what it

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comes down to, and that's why
the people that love Trump do not have

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anything that care about of what they're
saying and what they're doing or what they're

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trying to do to them. In
fact, the reason Trump is gaining ground

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and continues to gain ground is because
people are sick and tired of all the

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bs that's going on and how they're
treated as an American citizen. These lawsuits

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are ridiculous. The top lawyers in
the country tell you they're ridiculous Democrats and

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Republicans. Any real lawyer will tell
you that whole thing in New York was

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a sham to get all the political
nonsense of running to go get him and

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all this other stuff, and people
believe it. So why don't they believe

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it? So the same people believe
that Biden isn't shuffling off the stage staring

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into space, not knowing where the
hell he is, but down deep in

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their stomach they know it. But
they're still gonna vote for him, just

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like the people are gonna vote for
Trump who dislike him but like his policies.

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They all say that, not all
a lot of people. I don't

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like Trump, I don't like the
way he acts, but I love his

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policies. I'm gonna have to vote
for him. Well, maybe what we

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need to see without the media being
involved, is straight up what Trump is

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gonna do when he gets in,
and what Biden would do if he stays

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in, and let us pick the
way we want this to go. Stop

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telling me the economy is so good. Stop telling me that you brought the

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inflation down. Stop telling me that
inflation was high when you came in,

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and you're bringing it down. Stop
telling me that unemployment was high and he

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brought it down. Stop telling me
all these things that aren't true, because

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most people aren't that smart and they
believe this crap. The media needs to

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be brought to the table immediately and
have them start there. The only ones,

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honestly that can bring this country together, because if they actually reported what

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really is out there, most people
would agree in the middle and be able

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to move on. The problem is
the media is so biased until they get

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attacked, even the Democrats attack them. No, but the media needs to

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just report the damn news like it
was when we grew up. Here's the

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agenda that Biden will have. He
will continue to work towards getting the illegal

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immigrants somehow citizenship down the road.
He will continue to give them free stuff.

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He will continue to try to get
them to vote. He will continue

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to be able to make them under
the UNI human manditarian way of treating humans

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and start babbling about we're not going
to separate families and we're not going to

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do this. No one's doing that. But he doesn't have a plan for

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them other than tax us, take
our money and give it to them and

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Ukraine and Israel and everybody else out
there now. So do some of them

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need it, yes, But what's
the plan behind it? What are we

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doing to protect it? Why are
our own citizens in these inner cities ravishing

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it, killing each other, have
no no, no way out. But

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yet we're giving these illegally illegal people
that come here the ability to live a

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better life than are homeless thaneople in
our inner cities. That is what's wrong

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with the Biden agenda. Don't tell
me you care about these people when you

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don't care about what's going on.
It's a show for you. It's a

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show. Don't tell me that everything's
fine and there's no violence, and you

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have fences all around your houses and
have on guards. It's the citizens of

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the United States, even right here
in Tucson, who have to fear the

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fact that the house might get robbed. Someone's chasing them out, someone's doing

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something, someone's getting shot. Come
on, What is going on with the

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youth of America is that they're just
seeing all this stuff and keep going the

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shootings that keep going on. That
poor girl that got shot at that party

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by drive bys, gang related stuff. If we're having it here. You

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know what's going on everywhere, worse
and worse and worse. But what did

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the Democrats say? Oh, it's
gun control. Gun control. People have

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guns because they're afraid. And if
we the people that are afraid don't have

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guns. Gets what? The bad
people will always have guns. You think

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these people that are coming across the
border that are bad actors, they don't

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have guns. You think they care
about having them legal? No? Do

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they care about life? No,
they care about doing what the cartails tell

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them to do to be able to
make the money that they want to make

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and bring back everything else to them. That's what they're doing. So you

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got the border problem, and no
one has a real resolution. He said

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he's gonna shut it down. Hey, I don't see him shutting it down

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with the stroke of his pen.
But even if he shut it down,

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what are you gonna do? What
do you come up with? The docker

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ruld? Okay, so now we're
gonna make all these people that a dream

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is make sure that they don't have
to leave here. Okay, what about

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everybody else that came in the millions
and millions of people that have come here

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that are not contributing to our economy
whatsoever. They're putting a dreg on her

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economy. What are you gonna do
with them? You've been the president for

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four years, Biden, so don't
tell me they're hiding from you because you

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don't do anything. Your group doesn't
do anything. You're not sending people away.

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They become brazen on the streets,
hitting, beating up, killing people,

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going after police officers, not caring
because in these cities they can smash

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and grab, they can beat up
and do stuff, and they get out

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the next day. Violence is through
the roof. But yet they stop talking

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about violence. It's not that bad. The numbers don't show it. All

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they want to do is talk about
climate change. And the reason they want

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climate change is the same reason they
wanted social security. They want to use

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that every single time to get money
into a bill so they can use it

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and appropriate it to other things that
they want to do to get voted and

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stay in power. Yes, we
all want clean air, clean water,

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we all want a better environment.
But don't tell me the world has falling

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apart every single five years that I've
been alive because of climate change, because

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it's not true. Yes, we
have probably more smog than we need more

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pollution than we need. But guess
what is that pollution the same as it

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was fifty years ago? I don't
think so. Is a water cleaner than

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it was fifty years ago? Yes, it is, But what we need

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to do. One of the thing
I do agree is that we need a

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better transportation system. We need a
better utility system, especially for electricity,

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a better grid system. We need
to figure out more with water. These

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are things we can all agree with. Those are the things I don't have

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problem putting money towards. That's the
infrastructure. But you know, they come

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up with these infrastructure infrastructure packtes and
no one spends the money, and then

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when where is the money going?
They come up with this chips thing.

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Okay, how long is that going
to take? Building the plants, that's

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good, A lot of them are
being built right here in Arizona up there

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in the outside of Phoenix, the
Chandler area. That's great, jobs,

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great, But what are we doing? How are we going to do all

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this stuff? Their idea Bidam's idea. And this is the biggest difference between

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the two is taxes. And you
better be prepared if Biden wins. Taxes

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are automatically going up. Small businesses
are going to get crushed with higher taxes,

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subbs and LLC's I get that right
off, now goodbye, unless they

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change it, which maybe they would. Okay, every tax bracket goes up

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two percent, and there's still and
the biggest one, everything's going to go

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higher. I've told you this before
and we're going to continue to talk about

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it. Under the Inflation Act that
he put in, he got down,

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he went ahead, and he's proud
of this that he got. The maximum

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you can pay in medication is eight
thousand a year. That's what it is

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now. Starting next year, it
goes down to two thousand. So everybody

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on Medicare will never be able to
pay more than two thousand a year in

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medication. So do you think that
the insurance companies that pay for this stuff

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are going to just take it and
say, oh, that's fine, we'll

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let it hit our profits. No. What is it going to do is

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increase the premiums for everybody, and
those those that can't pay the premiums will

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will will be in a position that
they'll get their medication, they won't go

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higher, and they'll have low premiums
because they can't pay it. And the

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rest of us will be paying for
it, but that's their fair share.

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Everyone's got to pay their fair share. Fair to me is everyone paying the

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percentage. Taxes are going to go
up, and we talk about it with

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everybody that comes in to see us
clients. We talk about it with new

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clients. Prospects when we do the
financial plan. Taxes very important. Now,

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sure you can stick yourself into annuities
and do this and do that.

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There's other ways to invest and not
have to worry about that, to be

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able to do to not only mitigate
risk, but protect yourself too. Roth

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conversions have come huge lately, but
you don't want to put yourself in a

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whole nother bracket to where you're now
paying for medicare, a higher premium for

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medicare. You gotta be careful about
all that social security. You want to

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work and against social security, you
gotta be careful, okay, if you're

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not over full retirement age. That's
why we do these financial plans, and

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that's why we sit down with people
now more than ever. You need to

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have a financial plan, a real
plan, not something that says, oh

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you got to do this through that, not something that says, oh you

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got to buy more insurance. There's
a lot of different avenues, but I'll

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tell you one thing. It's all
it's still about allocation. The big thing

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being sold now is annuities and lurps. You know what annuity is a life

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insurance products. But you hear the
good part of it, which is the

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income stream. But remember, life
insurance only makes sense and does well over

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time. So if you were looking
at an opportunity not to have to continue

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premiums so you can get money out, you have to have time. Look

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at whole life policies. Anyone has
a whole life policy, and the cash

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moves up. It's over time,
ten, fifteen, twenty years plus,

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then you get some real cash in
there. That's how these things work.

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Always understand, the more complicated it
is, the more you need it to

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be explained to you. You need
these things explained. There are people,

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there are situations that all these things
make sense for. But most of the

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stuff that's right for people is pure
vanilla. Understand it's simple, what's going

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on, how it's going to affect
you, and do a few things things

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to make sure you're in a position
that you're not paying extra taxes. I'm

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putting yourself in an extra higher tax
bracket. That's what we do. So

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taxes is be careful, understand the
market stall going to probably go hire,

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learn how to mitigate risk. And
the election is going to be something different,

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so you've got to figure out which
way once it happens. So be

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prepared beforehand and we will prepare you. This is the Moneymatter Show. Appreciate

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you listening. We'll be right back
with the rest of the group for the

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rest of the show. Good morning, Welcome back to the Moneymatter Show.

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This is Dave Sherwood. I'm here
with Dylan Greenberg. I'm here with Todd

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Blake Junior and Sebastian Borsini. We
appreciate Dean stopping by and dropping his monologue,

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which everybody enjoys highlighted the show,
I think, and we're here with

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a lot more information for you.
And the holiday shortened week it was very

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strange, wasn't it. It's almost
like being a doctor. You get Wednesday

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off, get Wednesday off. It
used to. I don't know if they

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do anymore. If you're out there, you know, but doctor a lot

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of doctor wal surgeons A lot of
the time they do surgeries. They book

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them on Tuesdays and Thursdays. It's
like their Manday, so you think they

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get Wednesday off. Still, it's
just slower. From what I've heard.

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It was really weird having Wednesday off
and then you come back in on Thursday

305
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and it kind of feels like it's
Monday, and it feels Monday and Friday.

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It's very strange combination. It was. It was odd. It was

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nice to have a day off in
the middle of the week, but it

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was a little odd. And it
was a week that had two different halves

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the first half of the week Monday
Tuesday strong rally. Thursday Friday kind of

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a little bit of a sell off
and nothing significant, but a little bit

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of a sell off. There has
historically been a June swoon. It goes

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from I believe it's the eighteenth to
the twenty eighth. Deans talked about it,

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and we're in the June swoon.
It looked like it was going to

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swoon on Friday, and then it
kind of came back and closed pretty flat.

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A very interesting week for the major
averages, where the doll and the

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equal weighted really had strong weeks,
and the Nasdaq, which has been leading

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the charge, was flat. One
of the first times we've seen that happen

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this year. I mean we had
it I think in the beginning of the

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year a couple of times, but
I can't remember in the last two months

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we've seen that. So finally getting
that divergence happening there. It's funny how

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you have in Vidia take a break
and then all of a sudden, the

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equal weighted U S and P five
hundred is up more I said, I

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said a couple of weeks ago,
is in video leading the market or the

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market leading in video? And it
just seems like in Vidio really is what

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everybody's focused on. And it's a
difficult time. It's a challenging time to

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be a money manager because you want
to do the right thing. You want

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to have pair back aggressive position the
physicians that have appreciated dramatically. But if

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you start pairing back things like in
vidio, you end up with huge capital

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games and people yelling at you,
why did you sell my video? And

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we all know at some point we're
going to look back and say, gosh,

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darn it, why didn't we sell
in video when I was up there.

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I mean, it is a one
product company, after all, do

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they do a great job. Are
they a great company with a strong leadership

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position? Absolutely, the valuation is
not crazy at this point, it's yeah,

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since you're bringing up Navidio, I
took a look at their actual revenue

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00:27:18.640 --> 00:27:21.480
statement and where they make their money, and as you're saying right now,

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the valuation is not crazy. No, it's pretty reasonable for what they're actually

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producing on their income statement. And
that's how you know companies that you can

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00:27:32.400 --> 00:27:34.240
have all these pie in the sky
numbers and this company's worth this, but

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00:27:34.359 --> 00:27:37.799
actually what they earn and what it
comes out to be right, that's how

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you really know. So I hear
a lot of people have come into the

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00:27:41.839 --> 00:27:45.640
office lately and say, I just
think that Navidia price is just something's weird

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00:27:45.680 --> 00:27:48.400
about it. I just think it's
super high. It's high for a reason.

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They have proven themselves in actual business
and actually delivering real results, not

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just hypothetical ideas of it. But
the data center is their most dominant revenue

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00:28:00.920 --> 00:28:03.839
source. It's probably around eighty five
to ninety percent. And they make twenty

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00:28:03.880 --> 00:28:07.240
two point six billion in the quarter
one of their fiscal year twenty five,

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so that's predominantly where they get most
of their money. They have some from

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gaming, and they're trying to get
into some like professional visualization, automotive.

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We've seen some things about their robotic
arm that they're kind of starting to get

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00:28:21.640 --> 00:28:25.000
involved with. But if you look
at their income statement, their cost of

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00:28:25.079 --> 00:28:29.079
revenue is so small, and that's
why they have this just huge gross profit.

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On the robotic side, you have
a Elon Musk acquiring a bunch of

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these video chips because he sees his
future in that he's acquiring all these n

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video chips to put them into as
the Toonamentus vehicles that hopefully are going to

356
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make him a profit in the future. At the same time, they're starting

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to build out these robots. I'm
not sure exactly what they're going to do,

358
00:28:45.000 --> 00:28:48.599
but these robots apparently are going to
walk your dog, they'll put your

359
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laundry away, they're gonna put your
baby to sleep. All of that is

360
00:28:52.599 --> 00:28:56.839
what I just saw. Wow.
Yeah, and the Video Nanny did just

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become the most valuable company in the
world. It did for a about a

362
00:29:00.440 --> 00:29:03.519
minute. Yeah, it's now back
to number three. I guess it's all

363
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going to be those three for a
while now. It really was, it's

364
00:29:04.759 --> 00:29:08.200
going to just be one for a
day, and then and then the last

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two days after the midweek break,
we came back in and it dropped ten

366
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percent. Well, that was kind
of the crazy thing about Monday Tuesday is

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the market was screaming higher for seemingly
no reason. I mean even rates were

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higher, and it was just it
didn't care care. It just ran right

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into the holiday. And then I
mean, I thought, this week is

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a profit taking week. Most of
the times where you have a holiday shortened

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00:29:30.839 --> 00:29:33.759
week, you don't have much news, and we're coming off a huge rally,

372
00:29:33.920 --> 00:29:36.799
it's an easy week to take some
profit. But you didn't really see

373
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that in the first part of the
week. You saw it more on the

374
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back end of the week, and
it just kind of a it was kind

375
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of a like a pre holiday type
of week, low volume, and when

376
00:29:44.319 --> 00:29:47.440
you get low volume, mucan often
get dramatic moves, but we didn't really

377
00:29:47.519 --> 00:29:49.559
have them, no dramatic moves.
I think Monday morning came to the office

378
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and you had the dollar up,
oil up, stocks up, and rates

379
00:29:53.359 --> 00:29:59.599
up. That's it. I mean, SMP getting almost a percent, yeah,

380
00:30:00.200 --> 00:30:04.079
which is just counterintuitive to what should
be happening. Well because of Nvidia,

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00:30:04.440 --> 00:30:08.880
because it's very crazy how one company
can have so much influence. In

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00:30:08.960 --> 00:30:14.319
a new all time high on Monday, became the largest company by market cap

383
00:30:14.400 --> 00:30:18.519
in the world. I think it's
interesting is if you look at like the

384
00:30:18.559 --> 00:30:22.240
top twelve companies in the world,
the only other like real actual semi conducting

385
00:30:22.319 --> 00:30:26.799
company that's in there is TSMC,
and they're nine hundred billion versus Navidia's three

386
00:30:26.839 --> 00:30:32.640
point two billion, well three hundred
and twenty billion, I think three point

387
00:30:32.640 --> 00:30:34.359
two trillion. I think I said
Taiwan semi three times. Just size is

388
00:30:34.400 --> 00:30:37.119
what you're saying. No n Video
is three times the size of Taiwan want

389
00:30:38.119 --> 00:30:41.920
n Video's revenue is three times.
Their market cap is three times. So

390
00:30:42.680 --> 00:30:48.039
we're looking at semiconductors like, do
we think Taiwan semi conductors has the ability

391
00:30:48.079 --> 00:30:52.200
to room I mean, to grow
into that valuation or is Navidio going to

392
00:30:52.240 --> 00:30:53.960
come back to their Taiwan semiconductors valuations. So I was reading up on it.

393
00:30:55.039 --> 00:30:57.559
There's two different they do two different
things. The reason Nvidia gets stuffed

394
00:30:57.559 --> 00:31:03.880
from Thaiwan semi conductors because and Vidia
doesn't actually make the chips. They don't

395
00:31:03.880 --> 00:31:07.039
have. They're called a fabulous company, which means it's like a factory.

396
00:31:07.279 --> 00:31:10.119
The fabrication of it is what it's
called. And then it's if you're a

397
00:31:10.240 --> 00:31:12.319
foundry, that's where you actually create
the chip. That's where you have the

398
00:31:14.680 --> 00:31:17.119
what the process to actually grow.
And that's what we're talking about the other

399
00:31:17.200 --> 00:31:19.759
week with the gel that's opening.
And that's why tie On Semiconductor is bringing

400
00:31:19.759 --> 00:31:22.559
that company over here and building its
own factory next to it in by Costa

401
00:31:22.640 --> 00:31:27.039
Grand because it has the gel to
make the actual chip and Vidia doesn't do

402
00:31:27.119 --> 00:31:30.640
that. They make the idea for
the chip and whatever else they do.

403
00:31:30.640 --> 00:31:33.839
I don't know all the intricacies,
but they don't have the boundary factory that

404
00:31:33.960 --> 00:31:37.680
actually builds the chip. And that's
why companies are working like companies like in

405
00:31:37.759 --> 00:31:41.720
VideA, Apple or actually Apple's kind
of does their own thing too, but

406
00:31:41.240 --> 00:31:45.799
they have or Microsoft, they all
go to tie On Semiconductor if they need

407
00:31:45.839 --> 00:31:52.160
a chip actually built. Try one
of the only positive things Biden has done

408
00:31:52.200 --> 00:31:56.079
as president, other than test for
COVID. You need a test positive for

409
00:31:56.119 --> 00:31:59.400
COVID, so that's positive, right. So the other positive thing he did

410
00:31:59.559 --> 00:32:02.920
was to bring chips, the actual
like Dylan said, the actual manufacturer of

411
00:32:02.960 --> 00:32:07.519
the chips back to the United States, and that's why you see these big

412
00:32:07.599 --> 00:32:12.480
plants in New York and more importantly
Phoenix. Well Phoenix is what I was

413
00:32:12.480 --> 00:32:15.720
saying. It's more important of what
he limited China's ability to replicate our things,

414
00:32:15.799 --> 00:32:20.559
and we slowed down their progress because
we all know the more that's over

415
00:32:20.599 --> 00:32:22.839
there, the more they're going to
get them. That's why they probably said

416
00:32:22.920 --> 00:32:25.519
Taiwans are so they can get a
hand on TSMC and really know how they're

417
00:32:25.640 --> 00:32:30.319
doing those chips, because they are
behind us right now and we wanted to

418
00:32:30.400 --> 00:32:34.240
keep it that way. The biggest
thing that's happening is that the engineers that

419
00:32:34.240 --> 00:32:36.839
are going to be working at the
factory up in Phoenix, they're over in

420
00:32:36.880 --> 00:32:39.079
Taiwan learning to learn the whole process
everything, training for a year and a

421
00:32:39.119 --> 00:32:42.880
half. Yeah, and then they're
coming back here to do it. So

422
00:32:43.000 --> 00:32:45.119
it's taking them a little longer to
find the workers because of that, but

423
00:32:45.279 --> 00:32:47.440
they're actually finding them and that's what
it's going to be, and that's going

424
00:32:47.519 --> 00:32:52.359
to change. Taiwan's like their base, they're going to be in Arizona.

425
00:32:52.880 --> 00:32:55.279
And like we always talk on the
show about allocation, if your allocation was

426
00:32:55.359 --> 00:32:59.440
you wanted to have five percent of
your account in Nvidia, and it's now

427
00:32:59.559 --> 00:33:04.319
twenty four because the stock has gone
from one hundred to thirteen hundred. Right,

428
00:33:05.640 --> 00:33:10.559
you need to pair back. And
I understand that selling Nvidia creates tax

429
00:33:10.720 --> 00:33:15.319
issues if you're in a taxable account. I get that, but it's better

430
00:33:15.400 --> 00:33:19.079
to have tax issues than to have
the gain disappear. And I've lived through

431
00:33:19.160 --> 00:33:22.799
that before too. So taking some
profit on Nvidia, if you're one of

432
00:33:22.880 --> 00:33:25.039
the fortunate few that's in it,
or not fortunate few, one of the

433
00:33:25.160 --> 00:33:29.920
fortunate people that's in it, is
not a bad idea. Before we move

434
00:33:29.960 --> 00:33:31.839
any further, I have a disclaimer
to read. The show is sponsored by

435
00:33:31.880 --> 00:33:37.079
Greenberg Financial Group and you can listen
on seven ninety KNSC or iHeartRadio. The

436
00:33:37.160 --> 00:33:40.480
show discusses different investment products and strategies. Every product and strategy have some type

437
00:33:40.480 --> 00:33:45.240
of inherent risks, and we strongly
encourage our listeners to properly understand this risk

438
00:33:45.359 --> 00:33:49.359
to determine whether to buy, sell, or hold. The show has been

439
00:33:49.400 --> 00:33:52.440
on air for over thirty years.
The Greenberg Financial Group is registered with the

440
00:33:52.519 --> 00:33:57.160
SEC and a member of FINRA and
SIPIK. Visit our website at Greenberg Financial

441
00:33:57.200 --> 00:34:01.119
dot com for some more information.
Nice jobs a bash. The highest S

442
00:34:01.240 --> 00:34:05.880
and P five hundred year end estimate
on the street was fifty six hundred,

443
00:34:06.240 --> 00:34:07.880
and Dean said, until it's not, you know, until they raised it.

444
00:34:08.199 --> 00:34:14.360
And last week Evercore raised their year
end sm P price target to six

445
00:34:14.480 --> 00:34:17.760
thousand. What's their reasoning that's the
highest on the street, Just because I

446
00:34:17.800 --> 00:34:22.360
think it's gonna go to six thousand, that's specific reason. That's why they

447
00:34:22.440 --> 00:34:28.199
raised it. How about lower interest
rates and artificial intelligence? That'd be my

448
00:34:28.280 --> 00:34:30.599
guess. Well they I'm gonna test
your knowledge here, because these guys already

449
00:34:30.639 --> 00:34:34.880
know the answer. Oh, what
is the most profitable company in the world?

450
00:34:35.159 --> 00:34:39.800
The most profitable company in the world. Wow, not a clue.

451
00:34:39.920 --> 00:34:43.639
Yeah, I just throwing out there, what do you think. I wouldn't

452
00:34:43.639 --> 00:34:45.480
even guess Apple. It's a good
guess. So you have a guys,

453
00:34:45.599 --> 00:34:51.960
you remember I forgot you guys forgot
I forgot it's a Ramco actually oh yeah,

454
00:34:52.360 --> 00:34:54.679
oh okay, yeah around Audi A
fun little fact. I mean,

455
00:34:54.719 --> 00:34:59.000
it's the sixth largest company in the
world right now, but they're actually the

456
00:34:59.039 --> 00:35:01.360
most pro Saudi Arabia oil company.
I remember when they were going wanted to

457
00:35:01.400 --> 00:35:05.159
go public a few years ago.
It was before any company hit a trillion

458
00:35:05.159 --> 00:35:07.960
dollar market cap. They wanted to
go public with a two trillion dollar market

459
00:35:07.000 --> 00:35:10.800
cap. Everybody thought it was insane. And now we got so many companies

460
00:35:10.880 --> 00:35:15.679
over two trillion dollars in market cap. But that was only four years ago.

461
00:35:15.960 --> 00:35:19.440
But they're talking just four years ago. Yeah, really amazing. I

462
00:35:19.519 --> 00:35:22.840
was just like insane that they would
do that. I want to talk about

463
00:35:22.960 --> 00:35:25.360
XLK. Got about forty five seconds. Yeah, we'll do that. That's

464
00:35:25.360 --> 00:35:28.079
a big that's a big one.
We'll do it. On the other side,

465
00:35:28.119 --> 00:35:32.480
that's a big one. XLK is
the the technology e t F And

466
00:35:32.519 --> 00:35:37.599
there's a big deal coming with XLK
and I read a lot about it,

467
00:35:37.079 --> 00:35:42.039
and I don't have any idea what's
going to happen there, but hopefully you

468
00:35:42.119 --> 00:35:45.800
can bring us some insight into that. Sebastian, we'll be back right after

469
00:35:45.840 --> 00:35:47.480
this break. Once again, thanks
for joining us. This is the Money

470
00:35:47.559 --> 00:35:52.559
Matter Show, I KNSD. Welcome
back to The Money Matter Show. My

471
00:35:52.639 --> 00:35:55.920
name is Toddlick. I'm here with
Sebastian bors Seni, David Sherwood, and

472
00:35:57.119 --> 00:36:00.760
Dylan Greenberg. So we were just
on the other side of the talking about

473
00:36:00.880 --> 00:36:06.360
XLK, the ETF. It's a
technology ETF offered by the Spider. I

474
00:36:06.440 --> 00:36:09.719
think they're State Street technically, as
the company have actually puts together these ETFs.

475
00:36:09.840 --> 00:36:15.079
But Spiders have all you have XLK, which is technology, XLU utilities,

476
00:36:15.280 --> 00:36:17.360
XLE energy, So it all is
broken down into sectors. But XLK

477
00:36:17.639 --> 00:36:22.559
has a very interesting shakeup that it's
going through. They're gonna start rebalancing.

478
00:36:22.840 --> 00:36:27.039
XLK will be a force seller of
eleven billion dollars worth of Apple and a

479
00:36:27.119 --> 00:36:30.880
forced buyer of almost ten billion dollars
worth of Nvidia and the rebalance, so

480
00:36:30.039 --> 00:36:34.800
essentially they're taking they're keeping their Microsoft
waiting which is the highest waiting from twenty

481
00:36:34.840 --> 00:36:37.639
two percent, keeping it at twenty
two, and they're taking Apple from twenty

482
00:36:37.679 --> 00:36:42.679
two percents down to four point five
percent, right, and then they're taking

483
00:36:42.719 --> 00:36:45.960
in video from about a six percent
allocation up to twenty one percent allocation.

484
00:36:46.480 --> 00:36:50.320
Why are you doing this at a
time that in videos at all time highs.

485
00:36:50.800 --> 00:36:53.239
I'm not quite sure. Well,
there is there are things that they

486
00:36:53.360 --> 00:36:57.679
have to not and I read quite
a bit about it and honestly came away

487
00:36:57.760 --> 00:37:05.039
with starry eyed the there are rules
that they are required to follow and based

488
00:37:05.119 --> 00:37:09.000
upon market cap, and that's what's
generating this. And now the interesting part

489
00:37:09.039 --> 00:37:15.840
about it is the rebalancing I believe
took place on Friday so all of the

490
00:37:15.320 --> 00:37:20.519
which is interesting because Nvidia, which
they need to buy a ton of,

491
00:37:21.559 --> 00:37:25.440
lost ten percent on Thursday and Friday, and Apple, which they needed to

492
00:37:25.519 --> 00:37:30.280
sell a ton of, was fractionally
lower. There's an inside job the K

493
00:37:30.320 --> 00:37:34.559
news coming it is. And what
I find with these rebalancing, these major

494
00:37:34.639 --> 00:37:38.880
rebalancings, is they take place behind
the scenes, using futures and options,

495
00:37:38.960 --> 00:37:45.119
and they're typically not very disruptive.
The bottom line is the XLK is going

496
00:37:45.199 --> 00:37:52.599
to be more dominated by Nvidia and
less dominated by Apple going forward. Not

497
00:37:52.719 --> 00:37:55.880
really disruptive. But you I would
think that the average retail investor, they

498
00:37:55.920 --> 00:37:59.880
read the headline about the XLK rebalancing
and they say, Okay, I'm going

499
00:38:00.159 --> 00:38:05.119
all in on a video, right, you would think carefully drop ten percent.

500
00:38:05.199 --> 00:38:07.960
Most people need to do like I
don't know why Explicated just didn't do

501
00:38:07.039 --> 00:38:10.199
fifteen percent Apple in the video Microsoft, I mean, they're all great companies.

502
00:38:10.760 --> 00:38:14.639
Why are you make an Apple down
the four it makes It makes no

503
00:38:14.800 --> 00:38:15.719
sense. And then on top of
that, you're going to add, oh,

504
00:38:15.800 --> 00:38:20.119
we're going to take a six percent
up to a twenty one when that

505
00:38:20.199 --> 00:38:22.719
company just hit all time highs.
That's not how you manage money. Yeah,

506
00:38:22.719 --> 00:38:24.239
it's weird. D Like you're saying
some of it was based off market

507
00:38:24.320 --> 00:38:27.440
cap, but I mean Apple's right
up there with the market cap. As

508
00:38:27.480 --> 00:38:29.719
a video it makes no sense in
that and I don't need to do and

509
00:38:29.960 --> 00:38:32.360
I don't know, but it was
somewhere in the perspective somebody with the ETFs.

510
00:38:32.400 --> 00:38:36.760
So along with it is a more
passive management. It's not like amutual

511
00:38:36.760 --> 00:38:39.000
fund where you have a portfolio manager
constantly on it. So it's more even

512
00:38:39.039 --> 00:38:42.840
more interesting, they're just gonna put
twenty one percent of video in and just

513
00:38:42.920 --> 00:38:45.360
leave it for a bit. It
just seems very random. It's important to

514
00:38:45.440 --> 00:38:49.760
understand what's in a ETF, and
you can easily do this in exchange traded

515
00:38:49.800 --> 00:38:52.360
fund. Yeah, you can look
up the top ten holdings for any ETF.

516
00:38:52.480 --> 00:38:54.679
There's many websites that will give you
the information for free and give you

517
00:38:54.760 --> 00:38:59.159
the actual percentages that the ETF holds
in. I mean, for example,

518
00:38:59.239 --> 00:39:02.360
the solar et tan Taan was one
of those that we looked at and we

519
00:39:02.440 --> 00:39:06.360
were wanting to get exposure into solar, but then we found that when we

520
00:39:06.400 --> 00:39:08.519
look at the holdings, one holding
was the reason that ETF was up and

521
00:39:08.599 --> 00:39:12.639
all the other ones was why it
was underperformance. That was a great find

522
00:39:12.679 --> 00:39:15.760
by you guys, But that's one
of those examples of when you look into

523
00:39:15.800 --> 00:39:21.400
an ETF, sometimes the rest of
it it's either too concentrated or not concentrated

524
00:39:21.559 --> 00:39:24.519
enough, and that's how you can
really make sure that you're not having unexposed

525
00:39:24.639 --> 00:39:29.679
risks. Yeah, ETF of you
others the similar to mutual funds. Mutual

526
00:39:29.679 --> 00:39:32.400
funds a obviously much older, but
the difference is that ets trade throughout the

527
00:39:32.440 --> 00:39:36.199
day like a normal stock, so
you can buy and sell more liquid in

528
00:39:36.280 --> 00:39:38.599
that sense. Mutual funds only are
priced at the end of the day after

529
00:39:38.679 --> 00:39:44.079
trading's done. Mutual funds come with
other expenses because they have active portfolio managers,

530
00:39:44.079 --> 00:39:46.360
so usually that expense ratio is a
little higher than it would be with

531
00:39:46.440 --> 00:39:51.280
an ETF. You can have XLK, which is a technology when we just

532
00:39:51.280 --> 00:39:53.960
spoke about, and a mutual fund, same holding, same position, same

533
00:39:54.039 --> 00:40:00.840
everything, but one that's the only
difference would be actively traded and throughout the

534
00:40:00.920 --> 00:40:05.719
day and tax purposes and tax mutual
funds have capital games. You might have

535
00:40:05.760 --> 00:40:08.679
to worry about if the mutual fund
underlying holdings is forced to sell. So

536
00:40:08.760 --> 00:40:13.360
there's some nuances and differences between the
two, but overall this is the same

537
00:40:13.400 --> 00:40:15.440
idea. But you got to make
sure you know the difference between the ETF

538
00:40:15.519 --> 00:40:19.320
and the mutual fund because there are
a lot of hidden things with mutual funds.

539
00:40:19.480 --> 00:40:22.760
Another another example, XBI were thinking
about opening a position with them.

540
00:40:22.000 --> 00:40:25.599
Look up their top holdings, and
the top holding is what novavax okay cool?

541
00:40:25.760 --> 00:40:29.360
Not touching with a ten foot poll
after it went up fifty percent in

542
00:40:29.400 --> 00:40:34.920
about a week. Right, look
about a little more due diligence than just

543
00:40:34.960 --> 00:40:37.559
looking at the name of the etf
ets So people will fall in love with

544
00:40:37.639 --> 00:40:43.480
ETF names sometimes, like when the
memes stocks were going real big a couple

545
00:40:43.480 --> 00:40:47.039
of years ago, you had literally
an ETF called meat me Emy and people

546
00:40:47.119 --> 00:40:50.719
were buying it because it was just
a combination of GameStop, you know.

547
00:40:50.960 --> 00:40:53.360
Or when you have sire one stuck's
going crazy, y you had MJ you

548
00:40:53.440 --> 00:40:58.599
have you with the betting companies called
bets. Yeah, and most mostly exchange

549
00:40:58.639 --> 00:41:02.239
created funds are not manny. Most
mutual funds are. There's another fairly major

550
00:41:02.360 --> 00:41:07.360
difference. An ETF, an exchange
traded fund, really is more similar to

551
00:41:07.480 --> 00:41:13.360
the old unit investment trust u I
T. Some of some of us older

552
00:41:13.400 --> 00:41:16.079
folks are very familiar with u I
T s. They were the first ETFs.

553
00:41:16.239 --> 00:41:20.000
Essentially, they make us learn about
it still and we never use.

554
00:41:20.119 --> 00:41:23.599
Yeah, you'll have to study for
it when when you take the licensing exams.

555
00:41:23.920 --> 00:41:27.400
Kind of cool. Unit trust are
cool. They just don't do them

556
00:41:27.480 --> 00:41:29.840
much anymore. No, No,
you don't see you don't see much.

557
00:41:30.119 --> 00:41:34.880
I was when I was at RBC, they were like showed me how to

558
00:41:34.920 --> 00:41:37.760
build them. Yeah, really replaced
them. Yeah, they really have.

559
00:41:38.360 --> 00:41:42.719
Uh. The economy of retail sales
from AY were up one tenth of a

560
00:41:42.800 --> 00:41:45.719
percent versus two tenths of a percent. That's good if you're wanting lower interest

561
00:41:45.800 --> 00:41:51.280
rates. Yeah, which again though
we saw rates kind of tick higher this

562
00:41:51.400 --> 00:41:53.880
week, which is seemed like they
were listening to maybe some FED talk or

563
00:41:53.960 --> 00:41:57.880
something. They did did take a
little bit higher. Yeah, the ten

564
00:41:58.079 --> 00:42:00.599
the two year, which it had
gotten down around four point four. I

565
00:42:00.679 --> 00:42:06.360
think up around four point seven.
We still have the inverted y old curve.

566
00:42:06.639 --> 00:42:07.840
Four point seven on a two year
but if you want to go out

567
00:42:07.880 --> 00:42:12.199
ten years, you get four and
a quarter. Again, that is predicting

568
00:42:12.280 --> 00:42:15.920
a slowing economy in the future.
I mean we have been for two years.

569
00:42:16.000 --> 00:42:19.880
We're slowing. We've been slowing over
the last three months. Question.

570
00:42:20.400 --> 00:42:23.079
Second home sales at a thirty year
low right now, thirty years low.

571
00:42:23.119 --> 00:42:28.880
I saw that barely. What jumped
in May was inventory for existing home sales.

572
00:42:28.920 --> 00:42:31.400
Six more seven percent jumped. But
I mean that says prices the mean.

573
00:42:31.679 --> 00:42:37.639
Guess what the mean house prices across
the country the median or the mean

574
00:42:37.719 --> 00:42:40.840
median? No, sorry, the
median four to fifty the median the middle

575
00:42:40.920 --> 00:42:49.159
number or nineteen four nineteen is the
median house It is skewed because of higher

576
00:42:49.199 --> 00:42:52.119
prices, and comedian is not the
average meeting is the middle number? Well,

577
00:42:52.159 --> 00:42:54.960
the mean gets more skewed than the
median. Oh, absolutely, that's

578
00:42:54.960 --> 00:42:58.719
why they don't use it as much. The median is is a good number

579
00:42:58.840 --> 00:43:02.639
to use. Sales of homes below
two hundred fifty thousand are lower than they

580
00:43:02.679 --> 00:43:07.000
were a year ago. Sales between
two hundred fifty and five hundred thousand are

581
00:43:07.280 --> 00:43:10.119
up one percent, sales between seven
hundred fifty thousand and one million are up

582
00:43:10.159 --> 00:43:14.519
thirteen percent, and sales of homes
over a million dollars over the last year

583
00:43:14.679 --> 00:43:17.239
up twenty three percent. That makes
one hundred percent sense crazy, and you're

584
00:43:17.239 --> 00:43:22.320
saying it makes sense. You're saying
sales are at a thirty year low existing

585
00:43:22.360 --> 00:43:25.360
home sales. Yeah, they're actually
thirty year low because the high and because

586
00:43:25.400 --> 00:43:29.639
everybody covets their mortgage rate. But
what is selling is the million dollar plus

587
00:43:29.719 --> 00:43:30.840
homes. Sure, because people can
still afford them. We're just still ford

588
00:43:30.920 --> 00:43:36.039
right, pay right. Well,
if you're in a certain level of assets,

589
00:43:36.119 --> 00:43:37.320
if you have assets, it's easy
to get other assets. It's the

590
00:43:37.320 --> 00:43:40.320
people who are getting those first assets. And that's that two hundred fifty and

591
00:43:40.400 --> 00:43:44.519
below area exactly. And now there's
less houses under two and fifty thousand.

592
00:43:44.800 --> 00:43:46.079
Oh, you could barely find a
house. What's interesting, though, if

593
00:43:46.119 --> 00:43:51.519
you drive around Tuson, you're seeing
more for sale signs, quite a few

594
00:43:51.599 --> 00:43:55.599
more for sale signs, and you're
seeing them up longer than they were before.

595
00:43:55.920 --> 00:43:58.840
Before you didn't even have put a
sales sign up. You know,

596
00:43:59.039 --> 00:44:00.519
just say, hey, get tell
if your friends are going to sell,

597
00:44:00.519 --> 00:44:05.079
the house is gone. And with
home construction, housing starts and building permits

598
00:44:05.159 --> 00:44:07.880
dropped to the lowest level since July
and June of twenty twenty, respectively.

599
00:44:08.159 --> 00:44:14.320
So I think that's that's a positive
thing for CPI if you're looking for the

600
00:44:14.599 --> 00:44:17.519
inflation rate to come down, because
we've talked about this on nauseum, there's

601
00:44:19.000 --> 00:44:22.039
it's a third of the CPI.
Well no, I mean, don't you

602
00:44:22.159 --> 00:44:25.320
need more inventory? That's what you
would want. The more inventory you get,

603
00:44:25.559 --> 00:44:30.920
the more supply. What I'm saying
is is todd If you're seeing houses,

604
00:44:30.119 --> 00:44:35.760
more houses on the market and them
staying on the market longer, it

605
00:44:35.840 --> 00:44:38.760
means they're going to have to lower
prices to get them to sell, which

606
00:44:38.840 --> 00:44:42.840
they have not had to do for
years. The ruses are fifty percent higher

607
00:44:42.880 --> 00:44:45.559
than they were five years ago,
and mortgage payments is also double fifty They

608
00:44:45.599 --> 00:44:50.239
are down year over year. I
mean the existing home sales we talked about

609
00:44:50.320 --> 00:44:53.159
last week, we're down about ten
percent of average across the board. So

610
00:44:53.880 --> 00:44:58.679
you are seeing that they are kind
of readjusting those prices, but you still

611
00:44:58.679 --> 00:45:01.440
have so much inventory that I was
talking to a client about do I see

612
00:45:01.480 --> 00:45:07.519
a housing crash and you just maybe
in certain pockets of the country, but

613
00:45:07.039 --> 00:45:12.000
you're not gonna see anything big because
all these mortgages, they're not you know,

614
00:45:12.119 --> 00:45:15.079
poor mortgages. There's no like a
whole bunch of adjustables out there.

615
00:45:15.199 --> 00:45:17.280
Sure, it's just that everyone's coveting
their mortgage, right, So it's a

616
00:45:17.320 --> 00:45:22.800
completely different issue where if rates drop, you're going to have a flood of

617
00:45:22.960 --> 00:45:24.800
people wanting to get into new houses. It also seems like if it's in

618
00:45:24.840 --> 00:45:29.559
a place that hasn't been historically like
desirable to live in, but all of

619
00:45:29.559 --> 00:45:31.119
a sudden they see a housing crash, you got a lot of remote workers

620
00:45:31.159 --> 00:45:34.920
say we're moving there, and they're
gonna juge Frida. They're gonna do everything

621
00:45:34.960 --> 00:45:37.400
cause I mean, there's a ton
of people moving to Idaho from California,

622
00:45:37.440 --> 00:45:39.239
stuff which you probably never thought would
happened. Sure in the last few years,

623
00:45:39.679 --> 00:45:45.480
that's an interesting conundrum. On Friday, Forbes has a list of the

624
00:45:45.639 --> 00:45:50.679
best places in the United States to
rent, and it was based on affordability.

625
00:45:51.199 --> 00:45:57.400
Number nine on that list was Tucson, Arizona. However, last week

626
00:45:57.480 --> 00:46:01.760
we saw a report that Tucson rents
have risen forty three percent in the last

627
00:46:01.840 --> 00:46:07.000
five years, making it the fifth
most the fifth biggest increase of anywhere in

628
00:46:07.079 --> 00:46:10.840
the nation. So I'm not sure
what that just sounds like it's along the

629
00:46:10.880 --> 00:46:14.719
lines of what Dylan was just saying
that as if you see it's cheaper,

630
00:46:14.880 --> 00:46:17.000
that's why people moved to the area. Since people moved to the area,

631
00:46:17.039 --> 00:46:21.679
it's going to see a faster growth
of the rent. Apparently up forty three

632
00:46:21.760 --> 00:46:24.480
percent still makes us more affordable than
most other place And we talk about all

633
00:46:24.480 --> 00:46:29.559
the time. Zero to one is
one hundred percent increase. I need to

634
00:46:29.599 --> 00:46:32.360
raise my rent. Yeah, that's
right, you got you got tennis,

635
00:46:32.400 --> 00:46:37.079
don't you get oil? Up for
a second straight week, added another two

636
00:46:37.079 --> 00:46:39.440
and a half bucks, So that
was down around seventy two dollars two weeks

637
00:46:39.440 --> 00:46:43.360
ago, now to eighty and a
half. Seems like it wants to rally

638
00:46:43.400 --> 00:46:45.559
a little higher. Got over it's
two hundred day moving average and has some

639
00:46:45.679 --> 00:46:49.599
momentum behind it. Feel sorry for
you people to have to buy Yeah,

640
00:46:50.159 --> 00:46:53.880
hey, you know gold down eleven
bucks on the week to twenty three,

641
00:46:54.000 --> 00:47:00.480
twenty pretty good base for gold.
It seems around twenty three hundred. So

642
00:47:00.119 --> 00:47:06.880
just just before I move on,
you got thirty second. Sixty six percent

643
00:47:06.960 --> 00:47:09.599
of your home's energy is produced by
gas. So even though you're charging,

644
00:47:10.159 --> 00:47:15.039
percent of your homes energy is produced
by natural gas. Well, no,

645
00:47:15.119 --> 00:47:19.239
it's produced by gas. You know, in fossil fuels, which oil.

646
00:47:20.320 --> 00:47:22.519
You know your your electric costs are
getting more expensive. You don't have solid

647
00:47:22.599 --> 00:47:27.199
dude, why not me? So
you still see the cost of gas,

648
00:47:27.360 --> 00:47:30.119
just in a different ways. To
back right after this break, I got

649
00:47:30.239 --> 00:47:36.320
more about electric vehicles. I been
sure you Welcome back to the second hour

650
00:47:36.440 --> 00:47:37.880
of the Money Matter Show. For
those of you just tuning in. I'm

651
00:47:37.920 --> 00:47:40.239
Dylan Greenberg. I'm here with the
bash of Ward seeing he Todd Glick,

652
00:47:40.519 --> 00:47:44.400
and Dave Sherwood. Hean just did
the monologue and then he had had up

653
00:47:44.440 --> 00:47:46.880
the Phoenix for a little week and
get away and doing some football stuff up

654
00:47:46.880 --> 00:47:51.199
there. I had several meetings with
clients this past week. A couple of

655
00:47:51.239 --> 00:47:53.400
clients came in. They had different
things they were working on, and you

656
00:47:53.480 --> 00:47:58.719
know, we've got the greatest clients
in the world. It's what a wonderful

657
00:47:58.800 --> 00:48:01.800
business that your clients are, your
are your friends, and if you're listening.

658
00:48:02.519 --> 00:48:07.199
Thank you, because we wouldn't be
here without you, and it's and

659
00:48:07.280 --> 00:48:12.639
i'd have a lot fewer friends because
it really is nice to have clients be

660
00:48:12.719 --> 00:48:16.920
friends. I really really enjoyed that. The uh, what we haven't talked

661
00:48:16.920 --> 00:48:20.119
about the weather. You know,
the weather's kind of crazy, right.

662
00:48:21.199 --> 00:48:23.880
We got a much milder weekend.
This weekend. We can actually go outside

663
00:48:23.960 --> 00:48:29.000
if you're if you're careful. Right, Thursday was the longest day this year.

664
00:48:29.679 --> 00:48:32.519
So now think about this now,
the days are slowly getting shorter.

665
00:48:34.639 --> 00:48:38.639
About the twentieth because it was between
the twentieth and first either, Yeah,

666
00:48:38.679 --> 00:48:40.519
and I couldn't figure out which year
it was. I thought it was the

667
00:48:40.559 --> 00:48:44.760
twenty first two, don but it
was the twentieth. I feel like it's

668
00:48:44.800 --> 00:48:47.480
because of the whole leapier leap here. Yeah, I bet that's it.

669
00:48:47.639 --> 00:48:51.039
That has something to do with it
too. But you know, the days

670
00:48:51.039 --> 00:48:53.599
are getting shorter, and the sun
is slowly moving south. I've lived here

671
00:48:53.679 --> 00:48:59.480
for fifty two years, and I
always tell myself the worst of the heat

672
00:48:59.559 --> 00:49:02.280
is over now. I'm pulling myself, of course, but I'm telling myself

673
00:49:02.840 --> 00:49:07.320
the sun is moving south, is
getting less intense. It's all going to

674
00:49:07.360 --> 00:49:10.679
be good. Monsoon activity kicking in
early this year, which is pretty cool.

675
00:49:10.840 --> 00:49:14.760
Some clouds in the afternoon break.
I got a few sprinkles on the

676
00:49:14.800 --> 00:49:17.280
east side. On Thursday, they
got a pretty good rain and it's getting

677
00:49:17.320 --> 00:49:22.199
some rain body rain this weekend.
Humidity is a little higher, fewer cooler

678
00:49:22.280 --> 00:49:29.239
mornings Friday morning when we got up
ninety degrees. Discussing Friday morning, Tucson

679
00:49:29.320 --> 00:49:32.119
has not had an official one hundred
and ten degree day yet. We normally

680
00:49:32.159 --> 00:49:35.360
get one of those a year.
Enow for those of you who are new

681
00:49:35.400 --> 00:49:38.199
to Tucson, we normally get one
of those a year one and ten degree

682
00:49:38.280 --> 00:49:43.920
day. There was a number of
years ago where we had six of them,

683
00:49:44.360 --> 00:49:47.960
and then it was last year.
Last year we had fourteen days one

684
00:49:49.119 --> 00:49:53.800
ten and above, breaking the previous
record of six and certainly smashing the average

685
00:49:53.840 --> 00:49:59.119
of one. So let's hope this
year we're back to one and we get

686
00:49:59.239 --> 00:50:04.000
rainfall above average and we'll just have
to tolerate the humidity right well. Also,

687
00:50:04.159 --> 00:50:07.000
at lot this time last year,
we were saying this and like global

688
00:50:07.039 --> 00:50:09.360
warming, all these lakes are,
you know, getting emptied, and there's

689
00:50:09.559 --> 00:50:13.639
just nothing. It just looks terrible
and then a year later, it's like

690
00:50:13.719 --> 00:50:15.639
all these lakes are filled up,
and you see the videos and they're just

691
00:50:15.760 --> 00:50:21.000
like completely different. Looked at it
and it looked like it just was flooded

692
00:50:21.039 --> 00:50:22.960
all these It just looked like a
bunch of plants and stuff in, like

693
00:50:23.039 --> 00:50:27.920
trees that were it's been dry for
so long that they started growing, flooded

694
00:50:28.079 --> 00:50:31.320
the entire thing. The city had
Tucson putting sandbags out already, like yeah,

695
00:50:31.400 --> 00:50:35.960
there there's plenty of water, and
I don't think we have to wear

696
00:50:36.000 --> 00:50:37.559
all. Right. Back to the
markets, for those of you just tuning

697
00:50:37.639 --> 00:50:39.960
in, the dot was up one
and a half percent for the week,

698
00:50:39.960 --> 00:50:44.679
The SMP was up zero point six
for the week, the Nasdaq was flat,

699
00:50:44.760 --> 00:50:46.679
The Rustle two thousand was up point
eight percent for the week, and

700
00:50:46.800 --> 00:50:50.880
the equal weighted S and P five
hundred was up one point one percent.

701
00:50:51.639 --> 00:50:53.239
S and P five hundred. The
main reason it didn't beat the equal weighted

702
00:50:53.320 --> 00:50:57.679
was because a video took a break
and had to pull back. Very unusual,

703
00:50:58.119 --> 00:51:00.400
Like Todd said in the first hour, to see then has deck up

704
00:51:00.440 --> 00:51:05.840
one point yep and and the Dow
up one and a half percent. We

705
00:51:05.960 --> 00:51:08.280
did see the S and P hit
fifty five over fifty five hundred for the

706
00:51:08.320 --> 00:51:13.920
first time ever. And now and
now companies are starting to raise their price

707
00:51:13.960 --> 00:51:17.039
targets, which you said, one
is putting it to six thousand. Ever,

708
00:51:17.119 --> 00:51:20.960
course six thousand. Yeah. Part
of the strength in the Dow was

709
00:51:21.079 --> 00:51:25.280
McDonald's. McDonald's is the third worst
performing Dow stock. If it weren't for

710
00:51:25.360 --> 00:51:29.639
Intel and Boying, it would be
at the bottom. But Intel and Boying

711
00:51:29.760 --> 00:51:31.119
like the like to hang out at
the bottom there. Yeah, for just

712
00:51:31.320 --> 00:51:35.239
perspective, last week, the Dow
was up one and a half percent year

713
00:51:35.280 --> 00:51:37.519
to date, the Dow's up four
percent. There you go, it's almost

714
00:51:37.559 --> 00:51:39.239
doubled it. The S and P
five hundred was only five percent for the

715
00:51:39.320 --> 00:51:43.400
year. It's almost up fifteen percent. And the nasdack's up eighteen percent for

716
00:51:43.440 --> 00:51:45.119
the year. So now had a
great week last week. Yeah, the

717
00:51:45.519 --> 00:51:50.840
McDonald's gained four percent at the end
of last week. On news that that

718
00:51:50.960 --> 00:51:54.360
five dollars meal they've been talking about
it's gonna roll out next Tuesday, and

719
00:51:54.519 --> 00:51:58.800
Todd, being the skeptic that Toddy
is, said, yeah, but you're

720
00:51:58.800 --> 00:52:00.960
not gonna get my show. Okay, stand by, you're gonna get a

721
00:52:01.000 --> 00:52:04.960
burger or chicken sandwich. The size
of it. Please, you're gonna get

722
00:52:05.000 --> 00:52:07.599
size of it. You're gonna get
small fries. You're gonna get four pieces

723
00:52:07.639 --> 00:52:14.199
of chicken McNugget exactly and a small
drink exactly twenty to a scrowny guy like

724
00:52:14.280 --> 00:52:16.000
you would be stuff. No,
I would need like eight of those meals

725
00:52:16.519 --> 00:52:19.960
to get the calories I need from. I remember when I was in college,

726
00:52:20.039 --> 00:52:23.000
they used to have a McDonald's was
ten for a dollar. You can

727
00:52:23.039 --> 00:52:25.599
get ten for a dollar, and
I'd go buy ten. I do ten?

728
00:52:25.719 --> 00:52:30.559
What ten hammers? Yeah? And
they weren't like the size of your

729
00:52:30.800 --> 00:52:32.480
you know, little they were like
spiders. They were like but they're like

730
00:52:32.559 --> 00:52:37.840
they are now McDonald's hamburgers and McDonald's. Imber gonna one McDonald's. IM we're

731
00:52:37.880 --> 00:52:40.039
gonna fill you up. I mean, I mean a quarter pounders are good

732
00:52:40.320 --> 00:52:45.519
quarter They make the quarter pounders to
big macfanel that I'm a big mac fan.

733
00:52:45.599 --> 00:52:47.480
But they make the quarter pounders to
order. You always have to wait

734
00:52:47.559 --> 00:52:51.199
for a quarter pounder. You never
have to wait for the other burgers.

735
00:52:51.239 --> 00:52:52.840
So just think about it. I
like it. I like a quarter pounder.

736
00:52:53.039 --> 00:52:55.960
But although the quarter pounder is a
little greasier than I like. I

737
00:52:57.119 --> 00:53:00.800
like theat on the grill. Man
like the big macau bread to soak up

738
00:53:00.840 --> 00:53:04.639
the grease. Okay, you know, hey, they're not a week goes

739
00:53:04.679 --> 00:53:08.320
by that I don't get a call
or have someone stop in and ask me

740
00:53:08.400 --> 00:53:14.960
a question about electory vehicles. Because
there's a lot of people around electric vehicles.

741
00:53:15.199 --> 00:53:17.119
Everyone knows that range is an issue. I have someone call me the

742
00:53:17.159 --> 00:53:20.159
other day said, am I going
to be able to make it to Phoenix?

743
00:53:20.800 --> 00:53:22.199
Yes? You are. You're going
to be able to make its Phoenix.

744
00:53:23.199 --> 00:53:28.440
My model hy has an EPA estimate
of three hundred miles per charge,

745
00:53:28.480 --> 00:53:30.480
but I've never gotten more than forty
to forty to the best I've ever got

746
00:53:30.880 --> 00:53:35.239
current conditions, I'm lucky to get
two hundred, happy to have that.

747
00:53:35.760 --> 00:53:38.480
Mountains are a challenge for a battery, so I've never taken it up the

748
00:53:38.519 --> 00:53:43.400
mountains. But on Juneteenth, my
wife and I decided to go to Mount

749
00:53:43.480 --> 00:53:45.960
Lemon and have lunch. By the
way, it was seventy eight degrees at

750
00:53:45.000 --> 00:53:52.280
high noon on Mount Lemon. It
wasn't bad going up. The car took

751
00:53:52.840 --> 00:53:55.159
I used twenty three percent of my
battery going up, which is roughly what

752
00:53:55.320 --> 00:54:00.719
I do around town. Forty one
miles from my house to the top use

753
00:54:00.760 --> 00:54:06.599
twenty three percent of the battery.
However, because recumbent breaking feeds the battery,

754
00:54:07.679 --> 00:54:09.760
I was able to make the forty
one mile trip back to my house

755
00:54:09.960 --> 00:54:16.079
using just five percent of my battery
going down cells, Sebastian, I can

756
00:54:16.159 --> 00:54:22.360
go eight hundred miles urgency alert.
Huh, So I can go eight hundred

757
00:54:22.400 --> 00:54:25.079
miles on one charge, as long
as it's all downhill, all downhill Mount

758
00:54:25.159 --> 00:54:30.280
Lemon. Yes. So you're becoming
travel advisor. That's what I'm hearing.

759
00:54:30.360 --> 00:54:32.320
Now, I'm becoming an ev advisor. And you can make it to Phoenix,

760
00:54:32.400 --> 00:54:36.480
you can't make it back, and
most evs you'll have to stopping eloy

761
00:54:36.559 --> 00:54:39.639
and for fifteen minutes. I mean, it tells you on the thing right

762
00:54:39.960 --> 00:54:43.360
absolutely riding your car. Yeah,
I tell you on the car. And

763
00:54:43.519 --> 00:54:45.880
when I went to Phoenix, Dean, I went to Phoenix for a meeting

764
00:54:45.960 --> 00:54:47.320
and coming back it said you can
get to your house, you'll have three

765
00:54:47.360 --> 00:54:52.239
percent of your battery left. I'm
not that guy, Okay, I'm not

766
00:54:52.360 --> 00:54:54.760
that guy that's gonna bet that I'll
have three percent of my battery left.

767
00:54:55.199 --> 00:55:00.719
I'm stuck in the middle on Grant
Road somewhere dead. Repairs on your car,

768
00:55:00.800 --> 00:55:02.519
right since you got it? Repairs? Yeah, on your Tesla?

769
00:55:02.719 --> 00:55:05.639
No, oh yeah, you've had
none. I think they had like a

770
00:55:05.679 --> 00:55:09.159
bumper replaced. Oh no, I
had a wreck. Yeah, repairs.

771
00:55:09.400 --> 00:55:13.719
So you see, there's a lawsuit
now, class action lawsuit going out that's

772
00:55:13.719 --> 00:55:16.599
going to be re ignited from two
thousand. They got thrown out, but

773
00:55:16.639 --> 00:55:22.360
now it's back because they've combined five
lawsuits by vehicle owners who have paid for

774
00:55:22.440 --> 00:55:25.320
Tesla repairs since March of twenty nineteen. Okay, they're trying to say that

775
00:55:25.599 --> 00:55:32.280
Tesla has monopolized the repairs and they're
just thousands of prices. It's just skyrocking

776
00:55:32.320 --> 00:55:37.079
prices, and they're saying Tesla's got
to pay them back. I wouldn't be

777
00:55:37.119 --> 00:55:40.440
shocked at that, because when I
had my fender bender, I was required

778
00:55:40.480 --> 00:55:46.039
to go to a specific body shop. There are only a couple of approved

779
00:55:46.079 --> 00:55:50.639
Tesla body shops in Tucson, and
that's because you have to jump through some

780
00:55:50.760 --> 00:55:53.119
hoops and dealing. Like you just
said, maybe you have to get you

781
00:55:53.199 --> 00:55:57.400
know, we get lined up for
a little kickback or whatever. I don't

782
00:55:57.400 --> 00:56:01.079
want to use that word, but
must have a deal with them. And

783
00:56:01.239 --> 00:56:05.480
maybe Tesla's deal with them is they
know that they'll do a good job.

784
00:56:05.639 --> 00:56:08.000
Maybe that's all there is to it. When you had your little fender bender

785
00:56:08.079 --> 00:56:12.440
type thing, we thought that it
was going to be super minimal expense,

786
00:56:12.559 --> 00:56:15.559
right, And yes, it ended
up being pretty costly for you. Yeah,

787
00:56:15.800 --> 00:56:19.800
I slowly, honestly, slowly backed
about five miles an hour back into

788
00:56:19.800 --> 00:56:23.519
a neighbor's wall and pushed my bumper
up into my rear quarter panel and because

789
00:56:23.599 --> 00:56:28.639
the rear quarter panel is aluminum,
it buckled. Hey question for you,

790
00:56:28.800 --> 00:56:32.039
maybe you know so Fisker they're going
bankrupts. What happens to any of the

791
00:56:32.119 --> 00:56:36.679
Fisker owners out there if they get
into the wreck. We've warned about this

792
00:56:37.440 --> 00:56:42.000
for months on this show. Why
if you're going to buy an electric vehicle,

793
00:56:42.159 --> 00:56:45.960
if you roll the dice with a
company that has already declared bankruptcy once,

794
00:56:46.840 --> 00:56:52.400
now they're declaring bankruptcy a second time. It's it seems odd to me.

795
00:56:52.480 --> 00:56:54.320
We did see a Fisker up at
Alan Conto and it was kind of

796
00:56:54.320 --> 00:56:59.519
cool looking. But the Fisker Ocean, I believe was called right yeah,

797
00:57:00.000 --> 00:57:01.119
look their website. They actually had
cool cars. Yeah, it's nice.

798
00:57:01.360 --> 00:57:07.079
They just couldn't secure a large funding
series. That's a file for bankruptcy.

799
00:57:07.280 --> 00:57:12.000
No, and I think I again. I leased my I leased my car

800
00:57:12.119 --> 00:57:15.800
because I was concerned about the changes
in technology, and I was concerned about

801
00:57:16.400 --> 00:57:22.440
increased competition dropping prices. Well,
prices have plummeted. And even without the

802
00:57:22.519 --> 00:57:25.679
new technology, if they come along
with a new technology that let's say everybody

803
00:57:25.719 --> 00:57:30.400
all of a sudden decides solid state
batteries are the way to go. My

804
00:57:30.599 --> 00:57:34.079
car with a lithium ion battery becomes
a you know, eight year old cell

805
00:57:34.119 --> 00:57:38.000
phone. It seems like it would
have no A couple of thoughts. You

806
00:57:38.360 --> 00:57:43.360
are you? We don't ev good? All right? So the advertising revenue

807
00:57:43.440 --> 00:57:52.360
worldwide the top two companies What are
the two companies advertising revenue worldwide? Facebook

808
00:57:52.599 --> 00:57:57.559
and Google? Google? I think
yep, those are correct? Now Meta

809
00:57:57.920 --> 00:58:00.079
which is Facebook. Meta is a
family of app. So you have Facebook,

810
00:58:00.159 --> 00:58:05.280
Instagram, WhatsApp, and Messenger,
where Google just has Google Search they

811
00:58:05.360 --> 00:58:10.360
dominates, right. Yeah, well
technically Google dominates the search engine Google more

812
00:58:10.559 --> 00:58:15.159
than mena. Yeah, and especially
since Google technically owns YouTube. You want

813
00:58:15.159 --> 00:58:17.880
to add YouTube ads on top of
Google. Yeah, they have more together

814
00:58:19.199 --> 00:58:22.320
if you add those two together.
So but I just found that interesting because

815
00:58:22.440 --> 00:58:28.880
I was thinking about Chat GPT this
week and if you've I've used Chat GPT

816
00:58:29.000 --> 00:58:31.320
a lot, and I've started realizing
a couple of things. One of the

817
00:58:31.400 --> 00:58:37.159
things is it's it's Google on steroids. It to a point where if you

818
00:58:37.760 --> 00:58:40.800
get comfortable with Chat, there's no
reason to use Google for anything. I

819
00:58:40.880 --> 00:58:44.719
mean, what you do with Google
is you search something and then you have

820
00:58:44.880 --> 00:58:49.400
to normally click into a website to
find the answer. True. Now Chat

821
00:58:49.519 --> 00:58:52.840
just does that for you in seconds. Now, a question for the listeners

822
00:58:52.840 --> 00:58:57.239
out there, if a person wanted
to go to chatb was it GBT,

823
00:58:57.760 --> 00:59:01.480
GPT, GPT, chat GPT,
how would you go to it? You

824
00:59:01.639 --> 00:59:05.840
just you literally will just Google it
and then you'll find the link and go

825
00:59:06.000 --> 00:59:07.599
in. You can sign up for
free and you'll have access to the three

826
00:59:07.679 --> 00:59:12.880
point five version, which is their
second latest update. And if you pay,

827
00:59:13.000 --> 00:59:15.239
which I've paid for it, it's
like a monthly scription like twenty bucks

828
00:59:15.239 --> 00:59:19.119
a month. Then you get the
up the most up to date four to

829
00:59:19.159 --> 00:59:22.800
oh. But then also you get
all the apps. So there's all these

830
00:59:22.840 --> 00:59:24.840
different kinds of apps that you can
use chat GPT on. For example,

831
00:59:24.880 --> 00:59:28.159
if you want to say, hey, find me a trail in two soon,

832
00:59:28.239 --> 00:59:30.199
that's about four to six miles,
not too much elevation, and it's

833
00:59:30.239 --> 00:59:34.920
gonna be shady. It will find
a trail on my all Trails app and

834
00:59:34.960 --> 00:59:37.840
then show me the trail and then
I can send it to my watch and

835
00:59:37.880 --> 00:59:38.920
I can do it. And on
top of that, it's checking the weather

836
00:59:39.000 --> 00:59:43.159
for you, right yeah, I
mean you can ask you what is the

837
00:59:43.239 --> 00:59:45.920
weather prediction. It's going to check
five different sites for you, you know

838
00:59:45.960 --> 00:59:50.239
what I mean. You find it
far superior to Google, Yes, And

839
00:59:50.320 --> 00:59:52.559
I think people will figure this out
over a period of time. It takes

840
00:59:52.599 --> 00:59:57.440
a while for it to be introduced
and familiarized and for it to get the

841
00:59:57.480 --> 01:00:00.840
network effect it needs. But I
really see it. The only other competitor

842
01:00:01.199 --> 01:00:06.960
on this space is cloud uh C
A C L A U D E.

843
01:00:07.400 --> 01:00:12.119
And that's the one that is built
by Anthropic. Anthropic is one of the

844
01:00:12.199 --> 01:00:17.679
AI companies and they're backed by like
Amazon and I think Google Ventures also backs

845
01:00:17.760 --> 01:00:23.920
them. And so Microsoft is in
open ai and who's behind chad GP open

846
01:00:24.000 --> 01:00:30.119
ai, which is Microsoft owns a
part of open ai okay, and the

847
01:00:30.760 --> 01:00:34.159
other investors in open ai as well. Yeah, I mean, for example,

848
01:00:34.280 --> 01:00:36.639
Elon Musk was one of the first
creators of open ai, right,

849
01:00:36.679 --> 01:00:39.440
and then he he left. That's
what they're going to be integrating into the

850
01:00:39.480 --> 01:00:44.880
Apple phones. And that's what,
Yes, that's gonna be. It's gonna

851
01:00:44.880 --> 01:00:49.599
be like your Seri is going to
use open ais and it makes total sense,

852
01:00:49.599 --> 01:00:52.280
I mean, series awesome. But
there's some shortfalls of Siri, right,

853
01:00:52.320 --> 01:00:55.920
we've all seen it. But all
those short falls are answered with Chat.

854
01:00:57.360 --> 01:01:00.159
And I don't know if you guys
seen the new voice recognition on like

855
01:01:00.440 --> 01:01:06.679
Apple, but it is by far
way upgraded. Oh Siri. Yeah,

856
01:01:07.199 --> 01:01:09.400
like even to the point where you
say like m or like little things.

857
01:01:09.480 --> 01:01:14.079
It picks it up and says it
perfectly. So it drives me nuts.

858
01:01:14.119 --> 01:01:15.440
I'm trying to, you know,
do the voice texting and stuff. It

859
01:01:15.599 --> 01:01:20.599
just doesn't understand it. It does, really, I would try it again

860
01:01:20.760 --> 01:01:24.639
after this last updated and it's here's
worse than I do. We'll check it

861
01:01:24.719 --> 01:01:30.599
together. We'll check it together.
So Chat g Is and George Peas and

862
01:01:30.679 --> 01:01:34.239
Paul Teas and Tom that's the leading. That's it. You just Google Chat

863
01:01:34.400 --> 01:01:37.119
GPT. Yeah, and I had
an interesting conversation with chat GBT. I

864
01:01:37.199 --> 01:01:40.800
said, anthropic has its own version, which one's better, right? And

865
01:01:40.880 --> 01:01:44.880
I asked chat that and it lists
all pros and cons for each of them,

866
01:01:44.920 --> 01:01:47.599
but the one that really stood out
says he said, Anthropic Cloud's AI

867
01:01:47.920 --> 01:01:52.400
is way more safe and reliable,
not well, not reliable, but more

868
01:01:52.480 --> 01:01:57.559
safe and ethical. And they have
more philosophical concerns around the creation of it,

869
01:01:58.000 --> 01:02:01.320
whereas it literally said open Eyes is
more about data and it wants to

870
01:02:01.360 --> 01:02:06.760
get you the best answer available,
So there is a lot more thought and

871
01:02:07.519 --> 01:02:12.119
you know, ethics being involved in
a thropics creation of their AI bought compared

872
01:02:12.119 --> 01:02:15.800
to open ai, and that's coming
straight from open AI's chat bot. Chat

873
01:02:15.159 --> 01:02:21.239
GPT's a lot of could deal with
an anthropic Yeah, I mean I don't

874
01:02:21.960 --> 01:02:24.599
right now. I think it's it's
a it's a little behind GPT GPT.

875
01:02:24.760 --> 01:02:28.840
Can you can even misspell something and
it will know what you've tried to say?

876
01:02:30.280 --> 01:02:32.639
There is app Yeah, there is. Do you hear the way that

877
01:02:32.679 --> 01:02:37.840
Todd's talking about chat as if it
has a conscience. It's kind of creepy.

878
01:02:38.360 --> 01:02:42.039
Well, I think he probably doesn't
have a conscience they might be dating.

879
01:02:42.119 --> 01:02:46.320
I don't know. I've learned more
probably from chat in the last two

880
01:02:46.480 --> 01:02:50.880
three months. All your teachers,
well, definitely any of my teachers.

881
01:02:51.360 --> 01:02:53.920
I mean, it's amazing the things
it can it can teach you, show

882
01:02:54.000 --> 01:02:57.960
you, and the things that you
can experiment with it. I saw a

883
01:02:58.039 --> 01:03:01.760
report of h on Friday. The
people in the early twenties are having a

884
01:03:01.840 --> 01:03:07.880
hard time finding love because, according
to a relationship therapist. Tell me if

885
01:03:07.920 --> 01:03:15.880
this sounds familiar, dating apps have
made them too picky. You think I

886
01:03:15.960 --> 01:03:20.400
could see that? Yeah? Unreal, Yeah, just unreal. Expectations so

887
01:03:20.559 --> 01:03:23.039
easy just to swipe, say no, just never see you again. See,

888
01:03:23.159 --> 01:03:25.440
Like, I don't think it's just
dating apps though, it's definitely social

889
01:03:25.440 --> 01:03:29.159
media and social media because like when
you see someone on social media, they

890
01:03:29.199 --> 01:03:30.639
always look better than what they look
like in real life. Like you're a

891
01:03:30.679 --> 01:03:35.079
highlight of life, right, Like
you're only going to show what's great about

892
01:03:35.119 --> 01:03:37.000
your life on social media. No, not a lot of people show what's

893
01:03:37.039 --> 01:03:40.480
bad about any good alter pictures to
make yourself look bad, filters and all

894
01:03:40.599 --> 01:03:44.480
kinds of crazy stuff. You don't
think you've been too picky at this point?

895
01:03:44.559 --> 01:03:45.480
Chid, No, I think I
am being too big. I don't

896
01:03:45.480 --> 01:03:47.480
think it's just because of dating apps. It's probably a lot more to do

897
01:03:47.559 --> 01:03:52.480
with social media. To be honest, I hear you. I hear you.

898
01:03:52.639 --> 01:03:55.800
Best buy the often maligned on this
show. I knew you were going

899
01:03:55.840 --> 01:04:00.239
to talk about it. Up five
percent was sixteen month high on month day

900
01:04:00.239 --> 01:04:05.719
after UBS joined. The course of
upgrade seeing multiple paths nice price. Target

901
01:04:05.760 --> 01:04:11.480
one oh six stock has been getting
much maligned on this show. It's only

902
01:04:11.840 --> 01:04:15.199
advanced to what twenty percent in the
last three weeks. Why are we getting

903
01:04:15.199 --> 01:04:16.639
excited over a four percent move the
other day? Yeah, you did you

904
01:04:16.760 --> 01:04:20.199
buy it? No? No,
four percent move? What what? It's

905
01:04:20.280 --> 01:04:24.320
ninety and this guy to Target at
one o six? No, they jumps

906
01:04:24.400 --> 01:04:28.599
four percent though four percent moves a
nice movement on top of the ten percent.

907
01:04:29.480 --> 01:04:32.480
It's crazy, Dave. I was. I was telling Dave about Novo

908
01:04:32.599 --> 01:04:38.079
Nord this other day. It jumped
maybe four or five percent one day I

909
01:04:38.199 --> 01:04:40.280
told him about it. He says, why are you talking about that?

910
01:04:40.360 --> 01:04:44.239
That's boring four and a half percent? Cool? Right home about it again?

911
01:04:44.400 --> 01:04:48.239
You're coming back to me in a
public a public forum as opposed to

912
01:04:48.280 --> 01:04:51.880
you and be in my the privacy
of my office. You got fill up

913
01:04:51.880 --> 01:04:57.000
to the up to the whole town. That's really nice, buddy, Really,

914
01:04:57.199 --> 01:05:00.400
you know what McDonald this is speaking
of AI. He could have chat

915
01:05:00.559 --> 01:05:04.559
GBT and all this crap. McDonald's
is changing the course on their artificial intelligence

916
01:05:04.559 --> 01:05:09.320
point. They got fast food GI
will get rid of it. Get this.

917
01:05:09.400 --> 01:05:13.119
They're going to end a test run
with IBM that they had in one

918
01:05:13.159 --> 01:05:17.000
hundred restaurants. The so called automated
order taker will be shut off no later

919
01:05:17.119 --> 01:05:23.119
than July twenty six, according to
a memo received by franchisees. Two sources

920
01:05:23.199 --> 01:05:29.679
familiar with this technology told CNBC that
among its challenges, it has issues interpreting

921
01:05:30.000 --> 01:05:32.800
different accents and dialects. Oh I'm
sure, thank god. I can't stand

922
01:05:32.840 --> 01:05:35.559
that thing when I go to McDonald's
or any driver, and that's affecting order

923
01:05:35.639 --> 01:05:39.760
accuracy. So no, they're not
talking about the touch screens. No,

924
01:05:39.840 --> 01:05:41.840
I'm not talking about the touch screens
either. It's when you pull up to

925
01:05:41.880 --> 01:05:43.960
the drive through and it's like,
Hi, can I take your order?

926
01:05:44.039 --> 01:05:45.719
You think it's the real person.
You start telling them the order and it's

927
01:05:45.760 --> 01:05:49.360
like all right, walcome McDonald's,
can I Oh my gosh, I have

928
01:05:49.440 --> 01:05:51.920
to repeat the whole order for my
whole carp Fine, here it is.

929
01:05:53.760 --> 01:05:57.119
I think what this says to me, though, is not all AI is

930
01:05:57.280 --> 01:06:00.119
going to work. Well, that's
also I had to McDonald's come back to

931
01:06:00.199 --> 01:06:03.760
it. Well, I think I
don't. I don't see how many AI

932
01:06:03.880 --> 01:06:09.599
opportunities you have, but more than
anything we know. For example, we

933
01:06:09.679 --> 01:06:13.400
just talked about voice recognition like it
was terrible ten years ago. It was,

934
01:06:13.480 --> 01:06:15.000
it was created, it was a
thing, but it wasn't great.

935
01:06:15.119 --> 01:06:18.719
Now it's one hundred percent better.
Right, So just because something isn't gonna

936
01:06:18.719 --> 01:06:23.840
work now doesn't mean it. Sometimes
you just need another technological advancements to come

937
01:06:23.880 --> 01:06:28.119
first before it can get really good. Voice recognition will never help people with

938
01:06:28.599 --> 01:06:31.840
thick accents. My mom cannot.
Nobody understands my mom when she's going through

939
01:06:31.840 --> 01:06:36.159
a drive through. You gotta tell
her three or four times she's a Mexican.

940
01:06:36.239 --> 01:06:40.599
She has a thick Mexican accent.
Yeah. I disagree with that,

941
01:06:40.840 --> 01:06:44.679
but that's your opinion. You disagree
in what way. I think AI will

942
01:06:44.800 --> 01:06:47.320
have the ability to even distinguish accents. I think ultimately it'll be able to

943
01:06:47.360 --> 01:06:50.519
do. It's able to create videos
that you put in English and then make

944
01:06:50.559 --> 01:06:54.440
it into Spanish. So why wouldn't
it be able to eventually do that?

945
01:06:55.159 --> 01:07:00.119
My just seems reasonable to a friend
of mine's daughter did a doctoral thesis and

946
01:07:00.880 --> 01:07:05.199
he went, at your urging,
I believe, to Chat GBT and said,

947
01:07:05.280 --> 01:07:09.199
summarize, Oh I did he gave
he gave you did it for you?

948
01:07:09.320 --> 01:07:12.119
Yeah, I did it for him. Explain that he was a fifty

949
01:07:12.199 --> 01:07:15.119
three page thesis. And I just
I said, send me the pdf.

950
01:07:15.480 --> 01:07:16.519
And I said, and I sent
it to Chat. I said, hey,

951
01:07:16.840 --> 01:07:20.880
Chat, read the PDF and summarize
this for me. And it created

952
01:07:20.920 --> 01:07:26.679
a beautiful one page summary key points
what it actually talked about, what its

953
01:07:26.760 --> 01:07:30.840
recommendations was summarize it all very clearly
and concisely. And I didn't, you

954
01:07:30.320 --> 01:07:32.679
know, didn't have to read fifty
three pages to understand what it was.

955
01:07:33.239 --> 01:07:38.199
Just boom boom. The students in
the class that she was in were using

956
01:07:38.320 --> 01:07:42.960
it to do their thesis, right, was irritating the heck goud of everybody.

957
01:07:43.039 --> 01:07:45.760
Yeah, but that that's a fascinating
that's a fascinating Like we've talked on

958
01:07:45.800 --> 01:07:49.440
the show, there's an AI chat
bot that helps your writing. That maybe

959
01:07:49.639 --> 01:07:54.840
was produced by chat GPT to make
it sound more human. So there's a

960
01:07:54.920 --> 01:08:00.440
humanizer bought phenomenal just phenomenal technology.
And it's kind of like the Internet.

961
01:08:00.480 --> 01:08:02.559
The Internet was probably the greatest and
the worst thing to come out of the

962
01:08:02.679 --> 01:08:06.440
twenty out of the last century,
and this one it might be AI And

963
01:08:06.519 --> 01:08:10.880
it's crazy. With the Internet,
you didn't know half the things that was

964
01:08:10.960 --> 01:08:13.039
going to come out of it.
And that's where we are right now.

965
01:08:13.360 --> 01:08:17.079
I'm excited to download the CHATEGYPT and
check it out. Oh, I mean

966
01:08:17.119 --> 01:08:19.640
that's how I made your song,
right? Yeah? No, I like

967
01:08:19.720 --> 01:08:24.279
technology. You know. I was
one of the first cell phones for people

968
01:08:24.359 --> 01:08:27.600
that don't know and they want to
hear Dave's electric EV song. It's it's

969
01:08:27.640 --> 01:08:32.199
amazing. We'll set it to a
Yeah. There's actually an app you can

970
01:08:32.279 --> 01:08:35.520
go to and you can put in
your subject and the name of the person

971
01:08:35.640 --> 01:08:39.479
that you're doing, a genre of
music, and it creates a little two

972
01:08:39.520 --> 01:08:43.600
minute songs for it within seconds.
It's just nuts. Yeah, it's just

973
01:08:43.800 --> 01:08:47.920
nuts. Broadcom speaking of a technology
Broadcom, the ship makers sword to get

974
01:08:47.920 --> 01:08:53.600
another new all time high after they're
strong Ernie's report the week of the tenth

975
01:08:54.199 --> 01:08:58.399
multiple upgrades. It dock jump twenty
five percent in five days. Wow,

976
01:08:58.920 --> 01:09:00.800
before some pullbacks. That reminds me
of Adobe. Adobe had a really good

977
01:09:00.840 --> 01:09:03.439
week as well, right they did, they did. Do you have that

978
01:09:03.520 --> 01:09:06.600
earnings report on you not? Do
you? Okay? I mean, I

979
01:09:06.720 --> 01:09:10.479
know they they killed it out.
What I think they jumped like ten percent

980
01:09:10.520 --> 01:09:14.760
after they reported earning. So the
one that that really made made me pay

981
01:09:14.800 --> 01:09:18.920
attention is BYD. You know,
the Warren Buffett's conglomerate. Has they sold

982
01:09:18.960 --> 01:09:26.600
an additional one point three million shares
of BYD, b reducing they're holding from

983
01:09:26.640 --> 01:09:30.960
seven percent to six point nine percent. Berkshark get this, Berkshiw's original investment

984
01:09:31.039 --> 01:09:34.319
in BYD And it was Charlie Monger, who has since passed. It was

985
01:09:35.319 --> 01:09:41.840
he was was actually told by a
broker in San Francisco. Charlie was that

986
01:09:41.920 --> 01:09:46.640
he ought to look into this,
and and he bought two twenty five million

987
01:09:46.800 --> 01:09:57.000
shares at a dollar apiece. Stock
currently trades over two hundred dollars two twenty

988
01:09:57.079 --> 01:10:01.479
five million shares at a book.
Now this wasn't two thousand and eight,

989
01:10:01.560 --> 01:10:04.319
so you know, in all fairness, Yeah, so this is the we're

990
01:10:04.319 --> 01:10:08.159
talking about the electric car company yd
Yeah, okay, yeah. I had

991
01:10:08.199 --> 01:10:11.199
a client commanded my office when I
was with the Futton back in the in

992
01:10:11.319 --> 01:10:14.319
the early eighties, and he said
he needed to get some money out of

993
01:10:14.399 --> 01:10:17.560
his account because he had a friend
who was starting up a new company and

994
01:10:17.680 --> 01:10:21.800
he was going to offer him fifty
thousand shares for twenty five grand, and

995
01:10:21.880 --> 01:10:24.640
he said, I want to help
the guy out. I don't know it's

996
01:10:24.640 --> 01:10:27.800
ever going to mount anything or not. So he took the twenty five grand

997
01:10:27.840 --> 01:10:31.920
and bought his fifty thousand shares of
Price Club, which is now Costco.

998
01:10:33.039 --> 01:10:36.800
I'm sure he doesn't have it anymore, have all of it, But yes,

999
01:10:38.159 --> 01:10:40.920
Mugger and all them still I know
Mugger's not here anymore, but they

1000
01:10:41.000 --> 01:10:43.960
still own all those shares. They
do, though they don't know them all

1001
01:10:44.399 --> 01:10:46.439
they own. They've been selling them
steadily, dyling, but they still own

1002
01:10:46.600 --> 01:10:48.960
I don't know, probably two hundred
million years. Yeah, because that's like

1003
01:10:49.000 --> 01:10:54.520
forty billion dollars. Seas gotta be
byd It's byd DF, I think,

1004
01:10:54.640 --> 01:10:58.640
right, that's actual ticker. It's
an OTC, like for in America it's

1005
01:10:58.640 --> 01:11:01.720
a oh BYF you So you're saying
that this name of the company is by

1006
01:11:01.760 --> 01:11:05.399
D. Right, you're saying the
symbol is b y D d F because

1007
01:11:05.399 --> 01:11:09.239
it's I think it's pretty sure it's
on the OTC. Yeah, oh yeah,

1008
01:11:09.359 --> 01:11:13.640
F is for foreign, right for
foreign because it is obviously a foreign

1009
01:11:13.680 --> 01:11:15.000
Not sure what the D stands for
or something. Not sure, but I

1010
01:11:15.319 --> 01:11:18.079
think if people were trying to look
at by D, there's a different stock

1011
01:11:18.560 --> 01:11:23.000
with b y D and that's not
what we're talking I think beyond limited or

1012
01:11:23.079 --> 01:11:26.880
no, it's BOYD Gaming corporate boy
Gaming. B y b y D is

1013
01:11:26.960 --> 01:11:30.720
boy DOC. Symbol is not the
car company in China, right. Just

1014
01:11:30.000 --> 01:11:32.479
for the listeners that might get confused, No, they looked it up.

1015
01:11:32.600 --> 01:11:36.159
That's super important. Thank you.
To build your dreams, Build your dreams.

1016
01:11:36.199 --> 01:11:39.840
Is that what it's for? Yeah? Cool, Well he certainly built

1017
01:11:39.920 --> 01:11:43.960
Charlie Munger's dreams. Oh well,
yeah, the rest of peace. We

1018
01:11:44.079 --> 01:11:45.880
appreciate your listening. We're coming to
the end of this segment. We've got

1019
01:11:45.960 --> 01:11:50.199
two more segments to come, lots
of good information ahead. Thanks once again

1020
01:11:50.239 --> 01:11:57.399
for joining us on this cool desert
weekend. We'll be right back. Welcome

1021
01:11:57.439 --> 01:11:59.720
back to the Money Matter Show.
My name is Tod Lick. Here what

1022
01:11:59.800 --> 01:12:05.880
the Astroborsini, David sherwib and Dylan
Greenberg had an interesting take on cheap fakes

1023
01:12:05.880 --> 01:12:11.600
and deep fakes this week. Okay, apparently there's a couple of differences cheap

1024
01:12:11.640 --> 01:12:15.520
fakes and deep fakes. Yeah,
I didn't know there was a difference.

1025
01:12:15.640 --> 01:12:17.479
Never even heard of a cheap fake. But we had a nice argument this

1026
01:12:17.560 --> 01:12:20.920
week about whether cheap fake is a
thing. Apparently, a cheap fake is

1027
01:12:20.960 --> 01:12:25.199
just a video clip where the audio
is edited to make someone appear to say

1028
01:12:25.279 --> 01:12:28.359
something that they did not actually say, where a deep fake is a video

1029
01:12:28.399 --> 01:12:31.720
where an individual's face is seamlessly swapped
with another's, or an audio clip is

1030
01:12:31.800 --> 01:12:38.079
generated perfectly to mimic someone's voice.
We're talking about AI here obviously, Yeah,

1031
01:12:39.000 --> 01:12:43.039
where you will see a person up
there saying something that they would never

1032
01:12:43.159 --> 01:12:46.560
say, right. I mean,
this week it was about that KJP I

1033
01:12:46.600 --> 01:12:50.920
think that's her name at the Press
Secretary of the White House saying that Biden

1034
01:12:51.319 --> 01:12:56.800
his whole video of looking out into
space was a cheap fake because of you

1035
01:12:57.239 --> 01:13:00.600
expand the image, you'd really see
if there is someone else landing over there.

1036
01:13:00.000 --> 01:13:06.199
But it's different than deep fake.
Apparently it wasn't just lost in thought

1037
01:13:06.359 --> 01:13:10.680
or compared. It's like a news
headline that they just pick and choose what

1038
01:13:10.720 --> 01:13:13.920
they want to say so they can
get clicks. Speaking it's politics. Trump

1039
01:13:14.000 --> 01:13:19.399
Media and Technology Group got rough months. Rough month. One of the primary

1040
01:13:19.479 --> 01:13:24.319
reasons is that they just ided issue
a bunch more shares, which I'm thinking

1041
01:13:24.399 --> 01:13:27.960
has to be one of the greatest
fundraisers in history. You know, just

1042
01:13:28.119 --> 01:13:30.600
printed a bunch of more shares and
you end up with tens of millions of

1043
01:13:30.680 --> 01:13:35.359
dollars. Stock is down forty five
percent this month, and I would argue

1044
01:13:35.399 --> 01:13:40.399
it probably doesn't have much to do
with Donald Trump. It's getting crushed.

1045
01:13:40.640 --> 01:13:44.439
No, it's just not making money, and it's not company doesn't have had

1046
01:13:44.560 --> 01:13:47.039
very little revenue, very no earnings. When we say that intrinsic value was

1047
01:13:47.119 --> 01:13:54.560
like sixty maybe I think you're right. It's like one of those twenty twenty

1048
01:13:54.600 --> 01:13:58.760
stocks that just went to the moon
for no reason and now it's coming back

1049
01:13:58.800 --> 01:14:01.680
down to earth at gainstop. Down
eighteen percent this week. Yeah, the

1050
01:14:02.079 --> 01:14:06.159
Trump Media and Technology Group. I've
got a couple of clients that the trade

1051
01:14:06.199 --> 01:14:10.840
it, you know, and they're
not they're not interested in owning the company.

1052
01:14:11.239 --> 01:14:13.800
They're interested. When it drops down
in the twenties, they buy it,

1053
01:14:13.840 --> 01:14:16.119
and then jumps up into the forties, they sell it, drops down

1054
01:14:16.199 --> 01:14:19.119
the twenties again, they buy it
back, back and forth it goes.

1055
01:14:20.359 --> 01:14:26.239
Apple interesting on Monday. This is
kind of interesting because it was a couple

1056
01:14:26.319 --> 01:14:30.960
of years ago when the buy now, Pay later craze took off and everybody

1057
01:14:31.079 --> 01:14:35.840
had to be in that space.
Apple on Monday announced that they've stopped issuing

1058
01:14:36.000 --> 01:14:42.000
loans through Apple pay Later. Apple's
going to stop doing it the buy now,

1059
01:14:42.079 --> 01:14:45.600
Pay Later program they launched just last
year. Now last week they announced

1060
01:14:45.640 --> 01:14:49.800
a partnership with the buy now pay
later company Affirm. So what I'm thinking

1061
01:14:50.000 --> 01:14:55.600
is now apparently they're more comfortable with
the third party taking those risks and they're

1062
01:14:55.680 --> 01:15:00.159
done. Yep. Sounds like we're
buying and not paying. Yeah, because

1063
01:15:00.199 --> 01:15:03.920
there are some risk it's not a
risk free deal. And then they found

1064
01:15:03.960 --> 01:15:08.000
out if the economy were to dip
a little bit, there's an awful lot

1065
01:15:08.039 --> 01:15:11.399
of folks out there that would like
to eat before they want to pay their

1066
01:15:11.880 --> 01:15:15.119
bill. But also we know that
there's not interest on a lot of these

1067
01:15:15.159 --> 01:15:18.000
things. So how they get paid
is through a merchant right and So in

1068
01:15:18.159 --> 01:15:21.600
order for that whole business model of
work, you need people to keep using

1069
01:15:21.680 --> 01:15:27.520
that credit so you keep getting those
merchant fees that pays for that outlet of

1070
01:15:27.920 --> 01:15:30.800
for like half a percent of transaction, I think it's a little more than

1071
01:15:30.840 --> 01:15:33.600
like one and a half percent.
That adds up. It's kind of like

1072
01:15:33.640 --> 01:15:36.079
credit card company, where the merchant's
paying for it. Yeah, but you

1073
01:15:36.159 --> 01:15:40.199
need, like a credit card company
relies on people using the card. Right,

1074
01:15:40.279 --> 01:15:42.800
if we all stop using our card
and we just acute our balance and

1075
01:15:42.880 --> 01:15:45.000
paid it off, that's that would
be really hurtful speaking of a credit card

1076
01:15:45.000 --> 01:15:48.479
company can have affirm Actually it was
at the outlet mall up in Twin Peaks

1077
01:15:48.560 --> 01:15:53.439
the other day. Every single sign
every single store outside how to sign a

1078
01:15:53.560 --> 01:15:56.399
firm buy now, pay later,
you could use this here. That was

1079
01:15:56.520 --> 01:15:59.319
kind of interesting. Every single store, every single store. And it wasn't

1080
01:15:59.439 --> 01:16:02.039
like pace it outside every single story. It was like the mall was advertising

1081
01:16:02.079 --> 01:16:04.880
it interesting, you could use a
firm, you could use buy now pay

1082
01:16:04.960 --> 01:16:11.760
later here. Interesting. And every
business had sign on the door. No,

1083
01:16:12.039 --> 01:16:16.960
but the mall was advertising saying that
at every store here has this Wow,

1084
01:16:17.039 --> 01:16:19.640
So they got it. They got
everybody on board. Yeah, that

1085
01:16:19.800 --> 01:16:24.479
ghost ghost credit. That's a lot
of zero interest too. I've seen that

1086
01:16:24.560 --> 01:16:27.760
online when I'm checking out on things. It's saying you can do four equal

1087
01:16:28.279 --> 01:16:31.880
zero interest payments through a firm or
whatever if you Because they're not making their

1088
01:16:31.880 --> 01:16:35.560
money through the interest like like so
many other I'm pretty sure that if you're

1089
01:16:35.600 --> 01:16:39.920
laid on your payments, they will
start charging interest eventually, I would make

1090
01:16:39.960 --> 01:16:44.399
sense. Start they charged late payments, the late fees as opposed to interest

1091
01:16:44.439 --> 01:16:49.560
payments. Disney has been struggling ever
since they uh the activist investor was beaten

1092
01:16:50.159 --> 01:16:54.279
that beaten down by the shareholders.
What did they finished the week? Uh

1093
01:16:54.600 --> 01:16:59.359
on one on one one or two. Monday they were up after they announced

1094
01:16:59.359 --> 01:17:03.319
that their new move, their new
animated movie, was the highest opening weekend

1095
01:17:03.399 --> 01:17:06.680
for any animated movie in history.
Yeah. I heard a lot of people

1096
01:17:06.880 --> 01:17:10.880
go out and see Inside Out.
Yeah, and they need more and more

1097
01:17:10.920 --> 01:17:13.199
of those. Well, they need
more original movies. And I think that's

1098
01:17:13.239 --> 01:17:16.439
what Bob Iger said. They're going
towards. They're going away from remakes and

1099
01:17:16.520 --> 01:17:21.119
all that stuff because the nostalgia aspects
kind of dying off because they just overdone

1100
01:17:21.159 --> 01:17:25.119
it. They have this really weird
original movie coming out later this year about

1101
01:17:25.159 --> 01:17:28.600
a robot being a mom. I
was like, huh, you guys are

1102
01:17:28.640 --> 01:17:31.359
really leaning into this whole. AI
think, Dave, did you see the

1103
01:17:31.399 --> 01:17:34.479
thing about the Netflix House? What
chance? Yes, that was interesting?

1104
01:17:34.600 --> 01:17:38.000
Shared it with me, but you
going share it with Netflix House is kind

1105
01:17:38.039 --> 01:17:41.000
of gonna be kind of like an
interactive movie theater in a way. For

1106
01:17:41.239 --> 01:17:44.600
the building, it's a building.
You could call it almost a theme park

1107
01:17:44.680 --> 01:17:49.119
if you will. Yeah, yeah, you could go what well, I

1108
01:17:49.159 --> 01:17:53.479
mean a popular show right now is
British Quid. I was gonna have popular

1109
01:17:53.520 --> 01:17:57.319
shows Ridgardson they do a like a
big ball dance out of Queen's Ball,

1110
01:17:57.359 --> 01:18:00.600
I guess is what it's called.
Yeah, on Netflix, and you can

1111
01:18:00.720 --> 01:18:03.760
like actively go dance with the people. I guess inside it's not like an

1112
01:18:03.760 --> 01:18:06.800
example like that. Yeah, Squid
games. I think there's gonna be do

1113
01:18:06.880 --> 01:18:12.600
some of the challenges not real stranger
things. My life and I tripped over

1114
01:18:12.720 --> 01:18:15.680
Bridgerton season one and we watched a
few episodes. My wife goes, you

1115
01:18:15.720 --> 01:18:17.680
know, I don't think i'd ever
tell anybody I watched this, but I

1116
01:18:17.760 --> 01:18:21.720
really like it. Well, now
it's become a big thing a girl went

1117
01:18:21.800 --> 01:18:27.079
through this first two seasons in like
five days. Yeah, I guess I'm

1118
01:18:28.159 --> 01:18:31.680
drama show. I've heard of it
once. It's like it's like old school,

1119
01:18:31.760 --> 01:18:35.000
like English elite, but on top
drama on top of it. It's

1120
01:18:35.039 --> 01:18:39.279
kind of like a Universal Studios type
of deal. Like think about Harry Potter

1121
01:18:39.359 --> 01:18:42.039
World. You could go there and
have butter beer. They're gonna have all

1122
01:18:42.079 --> 01:18:45.119
these menu items that But what this
show, what this is is Netflix going

1123
01:18:45.159 --> 01:18:48.399
away from original content, which they
announced that they would. They're gonna stop

1124
01:18:48.439 --> 01:18:51.680
putting so much money into original content, and they're gonna start trying to make

1125
01:18:51.720 --> 01:18:57.560
money off what they built, like
the Netflix House, like memorabilia, merchandise

1126
01:18:57.640 --> 01:19:00.399
for Stranger things for Bridger ten,
all that stuff. They're trying to start

1127
01:19:00.640 --> 01:19:03.840
making money off that. A different
aspect they I mean, for what five

1128
01:19:03.920 --> 01:19:06.520
years, they've been pouring so much
money in the original content. I don't

1129
01:19:06.560 --> 01:19:09.880
know like it. It seems like
they have a two different, two prong

1130
01:19:09.920 --> 01:19:13.439
approach because at least half of the
things on Netflix was not created by No.

1131
01:19:13.560 --> 01:19:15.920
I mean they buy things, right, they buy catalogs, they buy

1132
01:19:16.079 --> 01:19:18.640
movies, but they don't have a
ton of original no. And I'm just

1133
01:19:18.680 --> 01:19:23.039
saying they they said they are going
away, they're spending. But even like

1134
01:19:23.359 --> 01:19:27.239
for example, like squid Game original
content, Even like squid Games, which

1135
01:19:27.560 --> 01:19:31.079
I believe is the Netflix original,
it was produced not here. I thought

1136
01:19:31.119 --> 01:19:33.840
squid Games came from Korea. It
did, And so I don't know if

1137
01:19:33.840 --> 01:19:36.880
they've bought it and then called it
their original or I think that's what they

1138
01:19:36.920 --> 01:19:41.760
consider they pay for it, but
it's obviously they didn't. If it's a

1139
01:19:41.800 --> 01:19:45.600
Netflix original has a little banner on
it, it can actually made by Netflix.

1140
01:19:45.840 --> 01:19:47.880
Yeah, but I don't know if
that means they bought it or if

1141
01:19:47.880 --> 01:19:51.439
they actually produced it, because it
seems like they buy a lot of the

1142
01:19:51.479 --> 01:19:54.479
shows. I want to say,
you're right on the sense that I think

1143
01:19:54.479 --> 01:19:58.439
they just buy it. It airs
on Netflix only for the first time period

1144
01:19:58.479 --> 01:20:00.159
of time. That's the first place
is a every air, so it's considered

1145
01:20:00.199 --> 01:20:03.359
an original. Yeah. I saw
another interesting thing I'm reading about right now.

1146
01:20:03.399 --> 01:20:06.920
It says they're going to be using
all the empty space in America's malls.

1147
01:20:08.039 --> 01:20:09.600
I thought it was gonna be a
little bit bigger than that. To

1148
01:20:09.640 --> 01:20:14.039
be Oh, they've got a ton
of empty space in America's malls filled up

1149
01:20:14.079 --> 01:20:17.319
with Netflix houses and pickball quirts.
But look at what's happened with foot Hills

1150
01:20:17.359 --> 01:20:23.279
mall. It's just completely right.
You got Whiskey Roads of Barnes and Noble

1151
01:20:23.319 --> 01:20:27.680
and apartments and all kinds of in
the movie theater because people want to go

1152
01:20:27.680 --> 01:20:30.680
to movie theater. Yeah, so
there's there's an awfully a lot of empty

1153
01:20:30.760 --> 01:20:33.439
mall space that could be used and
if something can come up with a brilliant

1154
01:20:33.880 --> 01:20:36.600
idea for that. You don't get
the movie theater thing because I feel like

1155
01:20:36.680 --> 01:20:40.960
like roadhouse cinemas, Yeah, I
would way rather go there than like get

1156
01:20:41.000 --> 01:20:43.359
AMC or something. You know,
I'm not a fan. I'm not a

1157
01:20:43.399 --> 01:20:45.560
fan of the walking around with the
food and you have to can't see it

1158
01:20:45.560 --> 01:20:55.000
because AMC has both. Huh,
you're walking around, So AMC has theaters

1159
01:20:55.119 --> 01:20:57.199
like that where you have their reclienters
and stuff. But if like I saw

1160
01:20:57.199 --> 01:21:00.039
a movie there in the IMAX and
it was just traditional old movie seats,

1161
01:21:00.600 --> 01:21:03.960
nobody's walking around just like that.
It's just for that that experience. I

1162
01:21:04.039 --> 01:21:08.039
mean I'm sitting there going, really, we can't eat and then go to

1163
01:21:08.119 --> 01:21:10.720
a movie, you know, we
can't do those two things. Shepherdly,

1164
01:21:10.880 --> 01:21:13.119
Yeah, trying to eat a cheezberger
in the dark in the movie here,

1165
01:21:13.199 --> 01:21:18.159
yeah, and French fries and then
servers are coming around and it's I like

1166
01:21:18.239 --> 01:21:20.920
to have a milkshake. But either
way, well, I watched my movie.

1167
01:21:20.920 --> 01:21:25.039
I mean, yeah, I like
Roadhouse. I go to Roadhouse,

1168
01:21:25.079 --> 01:21:27.880
but I also go to AMC.
Sometimes it just depends where the movie is.

1169
01:21:27.920 --> 01:21:31.359
But it's funny how during twenty twenty
they were saying AMC, they're all

1170
01:21:31.399 --> 01:21:34.239
out of business. Nobody's ever going
to go to a movie theater again because

1171
01:21:34.239 --> 01:21:39.239
you can get the movie on TV. They have both now now they're putting

1172
01:21:39.239 --> 01:21:42.600
it on streaming and they have it
in theaters, and theaters are still doing

1173
01:21:42.680 --> 01:21:45.720
well, Like people still want the
experience. Yeah, the big screen it

1174
01:21:45.800 --> 01:21:47.279
hasn't gone away. Went away for
about a year and a half and then

1175
01:21:47.319 --> 01:21:50.920
people forget that they couldn't and it's
still something that's fun. How long by

1176
01:21:50.960 --> 01:21:55.840
the stock how long do you not
necessarily MC, I'm saying, how long

1177
01:21:55.920 --> 01:22:00.479
do you think until we get away
with cable? Because that's seems like a

1178
01:22:00.520 --> 01:22:03.600
dying business. That's something that everyone
everyone was right about that that was dying,

1179
01:22:03.720 --> 01:22:06.439
right, But I'm always curious,
like, how long can they hold

1180
01:22:06.479 --> 01:22:11.119
on Once these start bundling like they
are bundling now, Disney, Hulu,

1181
01:22:11.359 --> 01:22:14.640
ESPN, they're all one. You
can start bundling and they are not like

1182
01:22:14.720 --> 01:22:17.880
they're going to start being able to
bundle like Pear Themount Hulu, different ones

1183
01:22:17.920 --> 01:22:20.680
and once if you can start bundling
all of them, if they make that

1184
01:22:20.800 --> 01:22:24.840
deal, cable's dead. And maybe
I'm wrong, but I'd say that the

1185
01:22:24.920 --> 01:22:28.119
majority of people over the age of
forty five have cable. Yes, and

1186
01:22:28.479 --> 01:22:30.960
you're not going it's gonna be around
to them, It's gonna be around.

1187
01:22:30.000 --> 01:22:33.479
And it's like the alarm on your
house, like Todd always talks about.

1188
01:22:33.640 --> 01:22:36.319
Once you have the alarm, you're
not gonna mess with the alarm. I

1189
01:22:36.439 --> 01:22:40.319
have cable. My wife said the
other night. Do we have this channel?

1190
01:22:40.359 --> 01:22:43.279
I said, we have. We
pay them so much money they should

1191
01:22:43.319 --> 01:22:47.479
bring us popcorn and drink. Yes, we have that channel. Uh,

1192
01:22:47.720 --> 01:22:51.119
you know, and I'm not I'm
not gonna change it. You know.

1193
01:22:51.479 --> 01:22:55.640
Oh, I could save fifty bucks
a month if I do this. You

1194
01:22:55.680 --> 01:23:00.159
know, I'm just not motivated to
do that. Hey, there's something in

1195
01:23:00.239 --> 01:23:02.920
life that can confuse all of us. One of the things that confuses me

1196
01:23:03.079 --> 01:23:09.960
is Occidental Petroleum and Warren Buffett's love
affair with his stocks bought it for nine

1197
01:23:10.079 --> 01:23:14.640
days straight. Not only that,
Dylan has unchanged over the last twelve months.

1198
01:23:14.720 --> 01:23:17.760
You ready for this, It's selling
at the same price it was seventeen

1199
01:23:17.960 --> 01:23:24.560
years ago. Seventeen years ago.
He is a value and Warren Buffets bought

1200
01:23:24.640 --> 01:23:30.000
it for nine straight trading days,
driving his stake in this company to twenty

1201
01:23:30.159 --> 01:23:32.920
nine percent. What kind of dividend
did it pay? I guess it does

1202
01:23:33.119 --> 01:23:36.880
not much. No, it's not
a dividend place a percent and a half

1203
01:23:38.039 --> 01:23:41.600
or something. I guess maybe with
all of his byd kind of doesn't matter

1204
01:23:41.680 --> 01:23:43.880
what he does with the rest of
the money. But I mean, he

1205
01:23:44.039 --> 01:23:46.479
was talking about this back in like
twenty one. It's absolutely a mystery to

1206
01:23:46.560 --> 01:23:54.680
me why he continues he hasn't done
anything for seventeen years. Warren, Hey,

1207
01:23:55.920 --> 01:23:59.159
he is, you know, the
stacked right off, the greatest value

1208
01:23:59.199 --> 01:24:01.279
investor of all time. Yeah,
when you say something is at the same

1209
01:24:01.359 --> 01:24:05.199
value as seventeen years ago, Warren
Buffet's buying it, it's an interesting statement.

1210
01:24:05.560 --> 01:24:09.600
Yep, Yeah, it's crazy.
Anyway, We'll be back with the

1211
01:24:09.680 --> 01:24:13.880
final segment of the Money Matter Show. Thanks again for joining us. Well,

1212
01:24:13.920 --> 01:24:15.479
be right back. Welcome back to
the Money Matter Show. My name

1213
01:24:15.520 --> 01:24:19.560
is Sebastian Borsi. I'm here with
David Sherwood, Dylan Greenberg and Todd Click

1214
01:24:19.640 --> 01:24:23.439
Junior. Yeah, we're back and
we've done a lot of financial plans this

1215
01:24:23.560 --> 01:24:26.720
week. It's been a nice busy
week, even though it's being summer,

1216
01:24:27.079 --> 01:24:30.119
a very hot one so far.
But you know, we see a lot

1217
01:24:30.159 --> 01:24:33.279
of people have the opportunity to actually
come in and relook at financial plans,

1218
01:24:33.359 --> 01:24:38.199
but also just start one. And
we have people all the time who listen

1219
01:24:38.239 --> 01:24:41.640
to the show that actually just want
to you know, they hear it for

1220
01:24:41.680 --> 01:24:44.319
the first time that we're offering these
free financial plans, and they go to

1221
01:24:44.439 --> 01:24:47.000
our website, put in their information
and we'll give you a call and set

1222
01:24:47.039 --> 01:24:49.439
up a time. That worked for
everyone. You know, some people they

1223
01:24:49.479 --> 01:24:53.159
can't make it into the office.
That's fine. We can do virtual meetings

1224
01:24:53.159 --> 01:24:57.840
as well. But the financial plan
itself, it's just amazing every time that

1225
01:24:57.960 --> 01:25:01.119
someone comes in and sees the end
result. You know, so many times

1226
01:25:01.199 --> 01:25:04.279
you can tell that they're really worried
about if they're going to make it through

1227
01:25:04.319 --> 01:25:08.439
retirement and if they have enough money, and then we show them that it's

1228
01:25:08.479 --> 01:25:11.199
out of ninety nine percent, and
then what we go and we show them

1229
01:25:11.239 --> 01:25:14.239
how much more they can spend.
And that's the real kicker, because it

1230
01:25:14.359 --> 01:25:16.399
gives people a peace of mind that
they never thought they could obtain. So

1231
01:25:17.199 --> 01:25:19.800
really, I would say anyone listened
to this, you have to take advantage

1232
01:25:19.800 --> 01:25:23.319
of it. It's completely free.
We talk to people all the time when

1233
01:25:23.319 --> 01:25:26.199
they're like, what what's included with
your fee? And it really is the

1234
01:25:26.279 --> 01:25:30.039
financial plan because people are paying I
mean charging thousand, two thousand dollars for

1235
01:25:30.119 --> 01:25:34.199
financial plans at least if you spend
two three thousand dollars for this financial plan

1236
01:25:34.319 --> 01:25:39.159
easily and end up with an annuity
or a life insurance policy, yeah,

1237
01:25:39.239 --> 01:25:42.920
it's crazy with a bias, right, like you're saying, so with ours,

1238
01:25:43.239 --> 01:25:45.560
you know, truly, we have
many people that come in do the

1239
01:25:45.600 --> 01:25:47.680
financial plan, they get the proposal, and at the end of it they

1240
01:25:47.760 --> 01:25:50.119
realize, you know, if I
don't if I can cut my own hair,

1241
01:25:50.119 --> 01:25:51.880
I don't need a barber, and
they don't do business with us.

1242
01:25:51.880 --> 01:25:56.079
And that's completely fine too. It's
not an obligation to do anything with us.

1243
01:25:56.119 --> 01:25:59.560
There's no obligation to pay us any
money. We just want to be

1244
01:25:59.600 --> 01:26:02.239
a recent for the people and understand
that, you know, just give us

1245
01:26:02.239 --> 01:26:04.640
a call and we can set up
a financial plan for you. We were

1246
01:26:04.640 --> 01:26:09.079
a client came in with a six
million dollars account, go through the whole

1247
01:26:09.199 --> 01:26:12.760
process, and at the end I
said to them, I can't do any

1248
01:26:12.800 --> 01:26:15.439
better than they're doing. They're doing
exactly what they should be doing. They're

1249
01:26:15.479 --> 01:26:19.840
doing the right I can't help you
now. If you'd like to have and

1250
01:26:20.119 --> 01:26:24.079
this money manager was in Phoenix,
I said, if you'd like to have

1251
01:26:24.239 --> 01:26:28.239
someone local, we would love to
help you, but it's going to look

1252
01:26:28.279 --> 01:26:30.399
a lot like what you're doing right
now. But also I would say,

1253
01:26:30.800 --> 01:26:34.479
we had another client in here who
at you know, a couple million investable

1254
01:26:34.560 --> 01:26:40.399
assets, but had a whole bunch
of business assets right other assets that aren't

1255
01:26:40.439 --> 01:26:44.600
liquid right now. But how we
develop a financial plan to show how we're

1256
01:26:44.600 --> 01:26:48.239
going to make those e liquid assets
turn into liquid ones once that decumulation phase

1257
01:26:48.560 --> 01:26:51.840
comes. You know, we have
connections with business planners, estate planners,

1258
01:26:53.199 --> 01:26:56.920
legacy planners, succession planners, right, a lot of business owners and we

1259
01:26:57.000 --> 01:26:59.319
know there's a lot of listening on
the show. You know, you have

1260
01:26:59.399 --> 01:27:01.439
to think about are you going to
get the money out of your business?

1261
01:27:01.479 --> 01:27:04.279
A lot of times that's your biggest
asset if you're a business owner, it's

1262
01:27:04.359 --> 01:27:08.239
your business. That's what's hit.
That's the primary thing that he needed to

1263
01:27:08.319 --> 01:27:11.479
help with, right, and having
an idea how transition phase? Yeah,

1264
01:27:11.800 --> 01:27:14.039
what do I plan for? What
do I look at? What are the

1265
01:27:14.119 --> 01:27:16.279
taxes going to be? Right?
There's so many variables for business owners.

1266
01:27:16.720 --> 01:27:21.319
And you can't look at your life
in an Excel sheet if you're a business

1267
01:27:21.319 --> 01:27:24.720
owner. I mean, that is
so complex. You really do need a

1268
01:27:24.800 --> 01:27:29.560
financial plan. You need an estate
plan that's working in tandem with your financial

1269
01:27:29.600 --> 01:27:32.600
advisor. And that's why I would
really employ any business owner because those are

1270
01:27:32.600 --> 01:27:34.760
the ones that are most complicated,
and those are the ones that they charge

1271
01:27:34.760 --> 01:27:39.640
probably like three four, five thousand
dollars for you can get it completely for

1272
01:27:39.760 --> 01:27:44.680
free. Yeah. And every single
individual, every single client, every single

1273
01:27:44.800 --> 01:27:48.920
person we meet with, is unique. They have unique feelings, they have

1274
01:27:49.079 --> 01:27:56.680
unique risk tolerance, they have unique
objectives, different children, multiple children from

1275
01:27:56.760 --> 01:28:00.640
multiple marriages, businesses that need to
get sold. Ever, it is,

1276
01:28:00.439 --> 01:28:05.279
we get it. This is not
a financial plan. That's the plain vanilla.

1277
01:28:05.439 --> 01:28:09.920
This is what's the term you guys
always used. It's an interactive,

1278
01:28:10.039 --> 01:28:14.319
dynamic, dynamic thank you, thank
you so dynamic plan, and I think

1279
01:28:14.399 --> 01:28:16.960
what yours is along it's not.
It's a unique approach. For example,

1280
01:28:17.119 --> 01:28:19.399
we had a client in here that
says, it seems like you always drive

1281
01:28:19.439 --> 01:28:23.199
away from annuities, and it's like, no, actually, we think annuities

1282
01:28:23.199 --> 01:28:26.359
are fine in the right circumstance.
For example, we had a client me

1283
01:28:26.439 --> 01:28:29.800
and you and me and Dave were
working on where you know, the state

1284
01:28:29.880 --> 01:28:33.199
was going to offer him around three
hundred date of Arizona died. You can

1285
01:28:33.239 --> 01:28:36.800
explain it. You probably know husband
died and the State of Arizona was going

1286
01:28:36.880 --> 01:28:43.760
to offer her a lifetime payment of
x amount or a lump sum, and

1287
01:28:44.359 --> 01:28:48.119
there was no death benefit. There
was no If she had taken the lifetime

1288
01:28:48.199 --> 01:28:51.760
benefit, which is really all she
needs, she was comfortable with that amount,

1289
01:28:53.159 --> 01:28:56.000
and then got hit by a bus
in two weeks, it's gone.

1290
01:28:56.239 --> 01:29:00.479
Yeah, the entire principle is gone. It Arizona wins. So what we

1291
01:29:00.560 --> 01:29:03.199
were able to do is we were
able to put her into an annuity where

1292
01:29:03.359 --> 01:29:08.880
she gets the exact same monthly benefit
that she was going to get from the

1293
01:29:08.920 --> 01:29:13.199
state of Arizona. But she also
gets a bit as a beneficiary. So

1294
01:29:13.239 --> 01:29:15.880
if something happened to her one,
two, three, four, five years

1295
01:29:15.920 --> 01:29:18.960
down the road, that money doesn't
just evaporate into thin area, goes to

1296
01:29:19.079 --> 01:29:24.079
her children. And so this is
one of the examples of you know,

1297
01:29:24.199 --> 01:29:28.640
you're looking at the entire situation and
understanding how a product fits into that and

1298
01:29:28.760 --> 01:29:30.960
not just saying, how can this
product fit into a situation? And an

1299
01:29:30.960 --> 01:29:36.159
annuity is probably the only thing that
will work in that scenario that I just

1300
01:29:36.640 --> 01:29:40.359
laid out. Yeah, Like you
wouldn't take that money and put an investment

1301
01:29:40.359 --> 01:29:43.119
account because you can't guarantee you're going
to buy and video with it, you

1302
01:29:43.199 --> 01:29:46.520
know. So it's just completely different
based on each situation. Yeah. And

1303
01:29:46.560 --> 01:29:50.079
another situation were you use it on
is during retirement. It's if you need

1304
01:29:50.119 --> 01:29:55.359
a bridge a gap between your retirement
expenses and what you're bringing in through Social

1305
01:29:55.359 --> 01:29:59.039
Security, through pensions, through your
retirement accounts. If you don't have enough

1306
01:29:59.039 --> 01:30:01.760
coming in from there, how can
we get you a little more income that

1307
01:30:02.039 --> 01:30:05.680
is considered guaranteed by the insurance company. That's when a newdies can come into

1308
01:30:05.680 --> 01:30:09.439
play too. Is the bridge that
gap, and that's how we find them

1309
01:30:09.520 --> 01:30:13.560
useful. I think one of the
more unique things too about green Brook Financial.

1310
01:30:13.640 --> 01:30:16.159
If you're a client that's only ever
been with green Brook Financial, you

1311
01:30:16.239 --> 01:30:19.960
probably don't even see this one value
that I'm going to talk about today.

1312
01:30:19.960 --> 01:30:23.680
I was sitting in a meeting with
Todd and he mentioned to the clients about

1313
01:30:23.720 --> 01:30:27.039
how he needs to be essentially doubling
his spending if he wants to bounce that

1314
01:30:27.119 --> 01:30:30.880
last check like he means to.
Right, this is not something that a

1315
01:30:30.960 --> 01:30:34.600
traditional financial advisor would tell you.
Right, We're gonna sit your portfolio into

1316
01:30:34.640 --> 01:30:39.319
sixty forty and we're going to withdraw
four percent and you're gonna have a nice

1317
01:30:39.399 --> 01:30:43.399
life. Right, Todd's sitting here
telling him, No, you need a

1318
01:30:43.439 --> 01:30:47.119
double your spending. Right, What
other advisor out there is going to do

1319
01:30:47.239 --> 01:30:49.760
that. It's going to tell you
that because there is a hidden incentive,

1320
01:30:50.119 --> 01:30:55.439
well, because that spending is going
to come out of the account and reduce

1321
01:30:55.560 --> 01:30:58.920
your income exactly, right, Exactly. It's more of like when people are

1322
01:30:58.960 --> 01:31:00.640
telling me I want about my last
year, I want to work or use

1323
01:31:00.680 --> 01:31:03.960
everything I worked hard for, and
then I show them a plan that's ninety

1324
01:31:04.000 --> 01:31:08.399
nine percent successful. I show them
a plan that has two million dollars at

1325
01:31:08.439 --> 01:31:11.359
the end of it, even in
a bad scenario. So then I asked

1326
01:31:11.399 --> 01:31:14.359
them, Okay, well if your
plan was suspended, all you know you

1327
01:31:14.479 --> 01:31:18.239
failed. Yeah, right, so
we have to change your either assumptions or

1328
01:31:18.359 --> 01:31:21.199
change the fact that you need some
legacy planning. It's maybe we need to

1329
01:31:21.239 --> 01:31:24.520
do some charitable giving, right,
I mean, it doesn't mean that you

1330
01:31:24.600 --> 01:31:27.199
have to spend it on yourself.
Some people they're just they don't know how.

1331
01:31:27.399 --> 01:31:30.600
It's something that was very eye opening
to me, just because this is

1332
01:31:30.640 --> 01:31:32.159
the only firm that I've ever worked
for and I had, like I said,

1333
01:31:32.239 --> 01:31:34.960
this is a value that we have
that we'd bring to the table that

1334
01:31:35.039 --> 01:31:39.159
I didn't even know, just because
I haven't thought about the other advisors out

1335
01:31:39.159 --> 01:31:42.359
there and what they're doing with this
guy that should be spending a lot more

1336
01:31:42.399 --> 01:31:45.079
money. I was licensed forty three
years ago and in forty three years of

1337
01:31:45.199 --> 01:31:47.439
doing this, and before that,
I was ten years at the bank.

1338
01:31:47.840 --> 01:31:51.560
So I've been in financial services for
fifty three years. And the one thing

1339
01:31:51.640 --> 01:31:58.279
I will tell you with certainty,
you can't fix frugal. Once a person

1340
01:31:58.439 --> 01:32:00.840
is frugal, they're going to all
always be frugal. It's a learned behavior.

1341
01:32:01.119 --> 01:32:05.720
You're not going to go from frugal
to spend thrift. That's just simply

1342
01:32:05.840 --> 01:32:10.720
not going to happen. But you
can show someone through data, and I

1343
01:32:10.760 --> 01:32:14.359
think we've seen this with a couple
of your clients who didn't originally do the

1344
01:32:14.439 --> 01:32:16.840
financial plan, and then we did
the financial plan afterwards, and some of

1345
01:32:16.920 --> 01:32:19.640
them were really worried about their plan, right, and then we showed them

1346
01:32:19.680 --> 01:32:23.279
how much more they would have to
really spend to make it kind of worried

1347
01:32:23.840 --> 01:32:25.880
where you're actually gonna be like,
yeah, this is kind of you know,

1348
01:32:26.000 --> 01:32:29.840
fifty to fifty there, it's so
high that they're like, really,

1349
01:32:30.039 --> 01:32:32.760
that's how much and then all their
fears kind of go away. Something I

1350
01:32:32.840 --> 01:32:36.439
often tell people, and this is
what you want to hear when you're a

1351
01:32:36.520 --> 01:32:42.520
retirement age, is whatever problems you
have in life, money is not one

1352
01:32:42.560 --> 01:32:45.000
of them. Yeah, but a
lot of people make it one of Yeah,

1353
01:32:45.000 --> 01:32:46.840
they want to make it one of
them. Yeah, don't matter.

1354
01:32:46.960 --> 01:32:51.000
The thing though, and that's our
job is to show you that it doesn't

1355
01:32:51.039 --> 01:32:55.520
need to be, and to convince
you not only through emotional coaching, but

1356
01:32:55.680 --> 01:32:58.359
data, right, show you straight
up, this is what it is.

1357
01:32:58.560 --> 01:33:00.640
Explain it to you so it makes
sense, and that's what we do a

1358
01:33:00.680 --> 01:33:03.199
great job is education. Right now. What we can show you also with

1359
01:33:03.319 --> 01:33:08.319
that plan is what happens if inflation
increases? What if it stays at three

1360
01:33:08.920 --> 01:33:12.479
four five percent for a long time. We can show you the effects on

1361
01:33:12.560 --> 01:33:15.880
your plan. We can show you
what happens if what if they do cut

1362
01:33:15.960 --> 01:33:17.800
so security about twenty five percent,
fifty percent, any of the fears you

1363
01:33:17.920 --> 01:33:21.640
have going forward through retirement, we
can look at in real time and show

1364
01:33:21.680 --> 01:33:26.000
you the effects that it could have
on your retire and outlook. We have

1365
01:33:26.039 --> 01:33:29.840
a relatively new client who did the
financial plan with you guys about six months

1366
01:33:29.880 --> 01:33:36.640
ago, and he came in this
past week and his wife has a bug

1367
01:33:36.920 --> 01:33:44.479
about buying a second home in an
area where her grandchildren live. And we

1368
01:33:44.640 --> 01:33:47.600
sat down and went through all of
the different scenarios where you would get that

1369
01:33:47.760 --> 01:33:50.800
money, how you would get that
money, what that would do to your

1370
01:33:50.880 --> 01:33:56.560
financial plan, would it help,
would it hurt? And ultimately ended up

1371
01:33:57.840 --> 01:34:00.640
coming up with a pretty good solution, but more importantly a peace of mind,

1372
01:34:00.760 --> 01:34:04.560
something that he could take home.
Sit down with the wife at the

1373
01:34:04.640 --> 01:34:10.279
kitchen table and say okay, here's
here are the different scenarios as to how

1374
01:34:10.359 --> 01:34:15.840
we can pull this off. These
are people that are not hurting for money.

1375
01:34:15.920 --> 01:34:17.199
They have plenty of money. It's
just a matter of where do you

1376
01:34:17.359 --> 01:34:21.479
get the money? Where's the best
place to take efficient place? And we

1377
01:34:21.560 --> 01:34:26.800
could we could sit down with the
financial plan, knowing all of the things

1378
01:34:26.840 --> 01:34:30.840
that we know about this particular couple
and say, well, I know that

1379
01:34:30.920 --> 01:34:36.239
you have this asset that's unencumbered.
What if you were to take a loan

1380
01:34:36.319 --> 01:34:42.520
against that asset to get some of
the down payment, and then over here

1381
01:34:42.960 --> 01:34:46.199
we take a little bit out of
that asset to cover them all. Anyway,

1382
01:34:46.479 --> 01:34:53.439
long story short, the financial plan
is dynamic and it's ever changing.

1383
01:34:53.880 --> 01:34:59.840
And here's a one to eighty degree
turn for this couple, a time saving.

1384
01:35:00.239 --> 01:35:01.920
I mean, imagine how much things
that you'd have to remember. Oh

1385
01:35:02.039 --> 01:35:05.279
yeah, all the assets, the
valuations. I mean yeah, no,

1386
01:35:05.359 --> 01:35:10.239
I mean it's one of those things
that because we had done the financial plan

1387
01:35:11.680 --> 01:35:15.199
before he came in, Todd and
I sat down and went through the financial

1388
01:35:15.239 --> 01:35:18.840
plan, said okay, what about
this, what about that? So once

1389
01:35:18.920 --> 01:35:23.600
you have that in our database,
if you have other questions, whether you

1390
01:35:23.640 --> 01:35:27.319
become a client or not this guy
did, thankfully, But whether you become

1391
01:35:27.359 --> 01:35:29.319
a client or not, we have
all of that. And if you have

1392
01:35:29.479 --> 01:35:32.960
a second question or something that we
can deal with, we have it all

1393
01:35:33.079 --> 01:35:35.880
right here. Anyway, we thank
you for listening to us. Go out

1394
01:35:35.920 --> 01:35:42.720
and enjoy this cooler weather, relatively
speaking, and we'll be back next week

1395
01:35:42.800 --> 01:35:45.039
with another edition of the Money Matter
Show. We all want to be happy,

1396
01:35:45.960 --> 01:35:48.800
and of course I think that one
of the most important parts about being

1397
01:35:48.880 --> 01:35:53.479
happy is being healthy. If you're
not healthy, you're not happy. But

1398
01:35:53.600 --> 01:35:57.920
here at Greenberg Financial, what we're
trying to be is profitable. See you

1399
01:35:58.039 --> 01:35:58.439
next week.