Sunday's Serious Talk: Stocks, Politicians, and Tesla's

WEBVTT100:00:05.639 --> 00:00:09.039Good morning, everybody. Is thattime Sunday morning, eight o'clock right here,200:00:09.160 --> 00:00:12.919seven ninety k AND's t is aTean Greenberg and we will bring you300:00:13.599 --> 00:00:18.760the Money Matter Show. We'll haveeverybody here today except Todd. Todd had400:00:18.800 --> 00:00:25.000a god It was great grandmother's birthdayin California, so good for him.500:00:25.519 --> 00:00:28.199Pretty cool when you have not onlya grandmother but a great grandmother too.600:00:28.800 --> 00:00:35.679That's always a nice thing. Thatfamily, the uniting getting together always won.700:00:36.960 --> 00:00:42.640So where are we going? Whatare we doing? We have gone800:00:42.679 --> 00:00:48.159off every day and made a newhigh. Pretty cool in the s and900:00:48.200 --> 00:00:51.840P five hundred. Now we're notup huge for the year. We are1000:00:51.920 --> 00:00:55.000up two and a half percent,but every day going up a little bit,1100:00:55.039 --> 00:00:58.719a little bit, a little bit, a little bit. But you1200:00:58.799 --> 00:01:03.599look out there and say, what'shiven this? Well, obviously we've got1300:01:03.640 --> 00:01:11.400great economic numbers. The GDP wasgood, PCE number, inflation indicators were1400:01:11.400 --> 00:01:15.040good. So how the heck doeseveryone think that the Fed is going to1500:01:15.079 --> 00:01:19.319lower interest rates? Do they reallythink they're going to lower interest rates when1600:01:19.319 --> 00:01:23.680things are actually working in our favor? The economy is working very good,1700:01:23.760 --> 00:01:30.599and inflation's kind of creeping down.A little bit. Why would they lower1800:01:30.680 --> 00:01:36.439rates and just put a spark intostimulating the economy. I don't see it.1900:01:37.040 --> 00:01:41.760I don't see it. These punditshave been so wrong, These economists2000:01:41.799 --> 00:01:48.920have been so wrong, These institutionalguys have been so wrong. We have2100:01:49.000 --> 00:01:56.640being cautious, not bullish. Butwe also know that's why you stay invested.2200:01:57.560 --> 00:02:01.599That's how you invest in this.Make sure that if you're wrong with2300:02:01.760 --> 00:02:06.040your ability to think the market isoverdone and needs to pull back, and2400:02:06.040 --> 00:02:07.719you scan it and all those otherthings, you still need to have the2500:02:07.759 --> 00:02:13.680ability to make money. And thenwhen the markets do pull back, and2600:02:13.680 --> 00:02:19.560they always do pull back, youhave that cash, You have your hedging,2700:02:19.800 --> 00:02:23.360you have whatever you did to reducethe risk to be able to buy2800:02:23.400 --> 00:02:27.919back in. And the further wego up, the higher the risk gets.2900:02:28.919 --> 00:02:30.520I would say we're about an eightout of ten on the risk side3000:02:30.599 --> 00:02:38.080right now. Anything can make themarkets go down. We have good economic3100:02:38.199 --> 00:02:46.199numbers, but something just doesn't seemright. And if you tell me just3200:02:46.240 --> 00:02:51.960believe all those numbers, kind ofhard to do that, especially in the3300:02:51.960 --> 00:02:54.159wake of the things we heard thisweek, which I'll talk about later.3400:02:57.639 --> 00:03:00.240Are these numbers being good? Sothey can go out and talk about how3500:03:00.280 --> 00:03:07.879great Biden economics is and the marketsare at all time highs. So he3600:03:07.960 --> 00:03:12.840starts changing the tune of people stillthinking that they don't have enough money to3700:03:12.919 --> 00:03:16.199live in paycheck to paycheck. Well, the markets are up, the big3800:03:16.199 --> 00:03:22.000and new hires. You shouldn't worryabout money buying eggs and milk and paying3900:03:22.000 --> 00:03:25.879rent. You should be doing great. You know, that's not how it4000:03:25.919 --> 00:03:30.719happens. Out of tone, outof sight, And they keep coming on4100:03:30.840 --> 00:03:36.000more and more and more. Andif we keep listening to the media,4200:03:36.080 --> 00:03:39.599if we keep listening to these pundits, not only will the drivers crazy,4300:03:39.759 --> 00:03:46.199We're going to get false information,but I will give kudos to the Fed.4400:03:49.680 --> 00:03:53.360I think Jerome Powell's done a prettydarn good job in the face of4500:03:53.439 --> 00:03:59.800everything that he's had to deal with. He's bringing inflation down a little bit,4600:04:00.120 --> 00:04:04.639not the biten economics. A FederalReserve chairman and the people that are4700:04:04.680 --> 00:04:11.240on the board, and he's allowingthe run the markets, the markets to4800:04:11.319 --> 00:04:15.240run a little bit and not saying, oh, that's inflationary, which a4900:04:15.240 --> 00:04:16.240lot of them don't say that.A lot of them looking at tomorrow,5000:04:16.279 --> 00:04:18.879that's inflationary. They're gonna have toomuch money, They're gonna be spending.5100:04:18.920 --> 00:04:21.680It's gonna be the economy is goingto be growing. It's good for the5200:04:21.720 --> 00:04:26.439economy to grow. We've been sayingthat, let the economy grow. We're5300:04:26.439 --> 00:04:30.680at low unemployment, but again,if you look at the low unemployment,5400:04:31.360 --> 00:04:33.839it's because a lot of people areout of work because they don't want to5500:04:33.879 --> 00:04:39.480work. They pull themselves out ofthe employment pool, so they're not even5600:04:39.519 --> 00:04:47.720considered unemployed. So with that,we keep moving higher. Forty nine hundred's5700:04:47.800 --> 00:04:51.800kind of like a resistance zone here. If we break through it, can5800:04:51.839 --> 00:04:55.879we get to forty nine to fiftyfive thousand? We can? I think5900:04:55.920 --> 00:05:00.399that will be very hard to breakon this quickly, this fast as we6000:05:00.519 --> 00:05:04.439moved up, unless something changes andsomething good comes. And if you if6100:05:04.439 --> 00:05:08.680we're betting on lower interest rates andthey do it, that could propel the6200:05:08.720 --> 00:05:11.160market. I don't think they're goingto lower them, and I think that6300:05:11.199 --> 00:05:14.040will be a catalyst to move usdown. Now I do I think we're6400:05:14.079 --> 00:05:17.639gonna crash. No, We're inan election year. Economy is too good.6500:05:17.639 --> 00:05:20.839It's just not going to turn overand roll over unless there's an event6600:05:20.920 --> 00:05:25.920that we don't know about. Andlet's face it, there's a lot of6700:05:25.959 --> 00:05:29.959wars going on different places. There'sa lot of threats going on everywhere,6800:05:30.000 --> 00:05:35.279from Taiwan to the Middle East toUH to UH Eastern Europe. There's stuff6900:05:35.319 --> 00:05:39.439going on. But then when Isit back and think, it's like,7000:05:39.639 --> 00:05:44.000really, if these governments will alltogether and they all get together for these7100:05:44.040 --> 00:05:47.839meetings, why are they allowing themselvesto be in war? Why do they7200:05:47.879 --> 00:05:53.759allow themselves to be kid that thepeople killing each other. They're the ones7300:05:53.759 --> 00:05:59.079in charge. They can say nomore war. We're not gonna have conflict7400:05:59.120 --> 00:06:02.519in China and Taiwan. We're notgonna have conflict whether Ukraine and Russia.7500:06:02.560 --> 00:06:06.600We're not gonna have conflict in theMiddle East. So how do you do7600:06:06.639 --> 00:06:11.319that? You cut out the badapples. You don't let Iran be doing7700:06:11.360 --> 00:06:15.800what they're doing. You don't letRussia doing what they're doing. And if7800:06:15.800 --> 00:06:20.879they come to these global meetings andthese global discussions, why are these leaders7900:06:21.160 --> 00:06:25.480not just saying we're gonna what canwe do to stop these wars? If8000:06:25.519 --> 00:06:28.199they wanted to stop the wars,they could you know that, and I8100:06:28.279 --> 00:06:30.680know that, just stop them fixit, fix the economies, and let's8200:06:30.720 --> 00:06:35.680live happily. Ever after, there'ssomething that goes on with the good governments,8300:06:35.720 --> 00:06:41.600the bad governments, these superpowers inorder to keep themselves in power.8400:06:43.160 --> 00:06:46.279We know that we got dictatorships allover the place having bad things, and8500:06:46.439 --> 00:06:51.759us, they're supposed to be ademocracy, trying to make it all work.8600:06:54.240 --> 00:06:59.040I'm happy the economy is doing great. I'm happy the markets are doing8700:06:59.079 --> 00:07:04.360great. I wish I felt morethat there was a substantial reason why they're8800:07:04.399 --> 00:07:11.480doing so good, other than justwell, we're resilient. Well, we8900:07:11.519 --> 00:07:15.000can only be resilient for so longif inflation keeps coming down. I agree,9000:07:15.160 --> 00:07:16.920we can keep going high, Butwill the earnings be there? We9100:07:16.959 --> 00:07:26.360saw last week companies not having goodearnings are intel missed, United Healthcare getting9200:07:26.439 --> 00:07:29.000killed, Your man are getting killed. These are healthy. These are companies9300:07:29.040 --> 00:07:38.839that will cast cows because they're predictingand projecting that they will not meet their9400:07:38.839 --> 00:07:43.079revenues or in their earnings going forwardover the next year. So are they9500:07:43.160 --> 00:07:47.839right or the market's right? Eitherway anyway doesn't matter. I can tell9600:07:47.839 --> 00:07:50.759you this right now. We havemoved up very fast. I'm not just9700:07:50.800 --> 00:07:56.040talking about this year. I'm talkingabout late last year into the third and9800:07:56.079 --> 00:08:01.160fourth quarter, and now the firstquarter pull back. You can go into9900:08:01.199 --> 00:08:05.120money market funds and now and tryto get five percent, not any brokerage10000:08:05.120 --> 00:08:07.199money markets. You got to goahead and go in the fidelities or vanguards10100:08:07.240 --> 00:08:11.959of one of those within your portfolio. You don't have to take money out10200:08:11.959 --> 00:08:18.399and send it to them, justbuy the symbol. They're paying you over10300:08:18.480 --> 00:08:24.199five percent. It's not bad.Now, don't go to cash with everything.10400:08:26.720 --> 00:08:30.439But I started looking at trimming back. This week. We trimmed back10500:08:30.480 --> 00:08:33.399some of our sp wives, wetrimmed back some of our qqqs. I10600:08:33.480 --> 00:08:39.440trim back some individual stocks. Trimmingback doesn't mean you sell the entire position.10700:08:39.879 --> 00:08:41.919It means you're reducing it. Ifyou want to be in three percent10800:08:41.960 --> 00:08:46.279to four percent of five whatever itis, and you're higher than that percentage,10900:08:46.279 --> 00:08:52.679you pull back to the percentage ofyour model. Yes, it's not11000:08:52.000 --> 00:08:56.279fun to get out and watch astock go at fifteen hundred points more,11100:08:56.399 --> 00:09:05.120but remember you're still having it profitablebecause you still have part of your portfolio11200:09:05.159 --> 00:09:07.159in there. And if it goesnot that much, what do you have11300:09:07.200 --> 00:09:11.039to do again? Trim it again. But if the markets fall and your11400:09:11.080 --> 00:09:15.039stock falls or your positions for allther index falls, that care set.11500:09:15.080 --> 00:09:18.120You're now sitting in five percent,you're able to raise. So if you11600:09:18.120 --> 00:09:20.120want to be a three percent yougot to four and a half, you11700:09:20.200 --> 00:09:22.120cut back by one and a halfpercent. If you go down to where11800:09:22.120 --> 00:09:26.039we're at one and a half percent, you increase it back to three percent.11900:09:26.200 --> 00:09:31.360That's how you manage money. Youcould has your portfolio does the same12000:09:31.360 --> 00:09:35.559thing, so that way you don'talways have to pay taxes. There's ways12100:09:35.559 --> 00:09:43.080to do things without tax implications.It's very important to understand all of this12200:09:43.320 --> 00:09:48.320because when the markets don't make sense, and believe me, when the markets12300:09:48.360 --> 00:09:52.240are getting beat up, right,and I remember after two thousand and one,12400:09:52.279 --> 00:09:56.840and after two thousand and eight,and people and either two in the12500:09:56.000 --> 00:10:03.519UH in twenty twenty, when themarkets were going down, people oh,12600:10:03.559 --> 00:10:05.120I can't get invested. I gotto get out. The market's going lower.12700:10:05.600 --> 00:10:09.480And what they do they sold asit was going down, and then12800:10:09.519 --> 00:10:16.960they never got back in because theydidn't have trigger points. The idea is,12900:10:16.000 --> 00:10:20.840if you're selling what is going down, start looking for good quality stocks,13000:10:20.879 --> 00:10:22.960come out of the garbage, gointo quality. If you don't have13100:10:24.039 --> 00:10:26.000any garbage, come out of someof the quality, but don't come out13200:10:26.000 --> 00:10:28.159of it all air to it.If it comes down, air to it.13300:10:28.200 --> 00:10:33.639If it goes up, you startdollar dollar cost averaging again. But13400:10:33.720 --> 00:10:39.600the idea is is you don't stopinvesting. It's a different style of investing,13500:10:39.799 --> 00:10:43.200that's all. You're aggressive when themarkets go down ten, fifteen,13600:10:43.279 --> 00:10:48.679twenty thirty percent, and you're cautiouswhen the markets go up twenty thirty forty13700:10:48.720 --> 00:10:58.440percent. That doesn't make sense,Then talk to somebody. You have to13800:10:58.480 --> 00:11:01.919not only in invest on your wristside, you have to invest on your13900:11:01.919 --> 00:11:07.080fixed income side. People say,oh, I can't get enough money out14000:11:07.080 --> 00:11:09.519of my portfolio without a moment.Well, you know what, You're in14100:11:09.559 --> 00:11:15.840better shape today than you were threeyears ago because fixed income wasn't paying you14200:11:15.879 --> 00:11:18.559anything. Fixed income wasn't even payingyou one percent. Money markets weren't even14300:11:18.559 --> 00:11:22.279paying your half a percent. Nowmoney markets are paying five percent. Money14400:11:22.279 --> 00:11:26.240markets A bonds are paying your fourand a half to five and a half14500:11:26.240 --> 00:11:33.320percent quality government bonds, good qualitycorporate bonds. My gers are paying your14600:11:33.639 --> 00:11:43.600five and a half sometimes six percent, And you don't and attack deferred backed14700:11:43.639 --> 00:11:48.840by the insurance company. These aregood things. Here are other things that14800:11:50.000 --> 00:11:56.279are out there. And when youset up your portfolio and somebody said,14900:11:56.279 --> 00:11:58.799well, you know, I wantto be more aggressive, I want to15000:11:58.799 --> 00:12:03.279make those type returns. Remember whenyou put your portfolio together, say you15100:12:03.320 --> 00:12:09.799want thirty percent of your assets inthe risk type of stocks, like the15200:12:09.960 --> 00:12:13.120S and P type stuff and thingslike that. Right, So what happens15300:12:13.159 --> 00:12:16.320is when the markets go up,don't say and say, oh, they15400:12:16.320 --> 00:12:18.679were up fifteen percent, and yousay, oh, I'm only up nine15500:12:18.720 --> 00:12:22.960percent, But was that thirty percentup fifteen percent or more or less.15600:12:24.240 --> 00:12:28.039That's what you have to go aheadand analyze. Is the part of your15700:12:28.039 --> 00:12:31.360money that you're putting at risk.Did it perform well? People that were15800:12:31.360 --> 00:12:37.480in the Magnificent seven last you didn'tperform much higher than the NASDAC. The15900:12:37.519 --> 00:12:41.840people in the S and P fivehundred, okay, did what they did16000:12:41.120 --> 00:12:46.240in the spys, which was thewhich was the S and P five hundred.16100:12:46.440 --> 00:12:50.039But if you had an overall portfolioobviously didn't keep up with just the16200:12:50.080 --> 00:12:58.159index, but the part of itthat is matched to those areas will do16300:12:58.279 --> 00:13:05.000what you want. So that's whyyou diverse and allocate, and then obviously16400:13:05.159 --> 00:13:11.519where we are now, why iseveryone cautious because of the geopolitical environment?16500:13:11.000 --> 00:13:16.120And I don't blame them. Idon't blame them. You got two wars16600:13:16.120 --> 00:13:26.200going on, you got rumblins overin China in Taiwan, and we got16700:13:26.759 --> 00:13:35.240a bubbling supposedly president that doesn't getwhat's going on, can't get it done.16800:13:37.919 --> 00:13:43.919It's amazing how much our foreign policy, our foreign relationships are worse today16900:13:43.960 --> 00:13:48.320than they were with Trump and everybodywho's complaining about Trump. We're in two17000:13:48.360 --> 00:13:50.039wars right now, and when Trumpwas here, we were none. We17100:13:50.039 --> 00:13:58.679were getting out of them. Ourborder is a mess, and you're looking17200:13:58.679 --> 00:14:05.240at it possible the start of sometype of civil war in Texas. It's17300:14:05.279 --> 00:14:11.480amazing how these people in Washington sitin their White House, perched on their17400:14:13.639 --> 00:14:20.919pedestals and they just talk about,we're not allowing you to go ahead and17500:14:20.919 --> 00:14:24.960put up that Bob Wier to protectyou and your citizens of Texas. Just17600:14:26.080 --> 00:14:31.080let them come across with no othersolution. Just we're gonna send people down17700:14:31.120 --> 00:14:33.399there and we're gonna cut that downand we're gonna get rid of it and17800:14:33.919 --> 00:14:37.799threaten you got twenty four hours andif you don't do it, we will17900:14:37.799 --> 00:14:41.559do it. And whatever happens happenedpretty much. Well, if you think18000:14:41.559 --> 00:14:46.240the people of Texas are gonna sitthere and take that, I don't think18100:14:46.279 --> 00:14:50.000so. I don't think so.The good old boys of Texas are not18200:14:50.039 --> 00:14:54.120gonna sit there and accept the factthat this federal government is going to put18300:14:54.120 --> 00:14:58.960their families, their state at riskwith millions more people coming across the border18400:15:00.600 --> 00:15:05.480when they're trying to protect themselves.The economy in there is I do believe18500:15:05.480 --> 00:15:09.799you've followed the law, and theproblem is is that Supreme Court ruled against18600:15:09.840 --> 00:15:16.080that and that Biden they need tofollow Biden's rules. The problem is Biden's18700:15:16.120 --> 00:15:22.120not following his own rules. He'snot protecting us, he's not protecting America.18800:15:22.360 --> 00:15:28.000It's not I shouldn't say nobody.There's very few people out there that18900:15:28.080 --> 00:15:31.759don't think we ever bought a crisis. But yet he refuses to stop people19000:15:31.799 --> 00:15:35.320from coming in. I don't knowwho knows if we got fifteen to twenty19100:15:35.440 --> 00:15:43.799thirty forty million illegal immigrants in theUnited States right now doing nothing, but19200:15:43.559 --> 00:15:50.080most of them are afraid to exposethemselves and go get a job and do19300:15:50.120 --> 00:15:54.720all the things you need to do. We have shortage of label. Let's19400:15:54.759 --> 00:15:58.240figure it out. Not everyone's goingto be happy, but let's figure it19500:15:58.279 --> 00:16:03.879out. Let's get them speaking English, let's get them educated, Let's get19600:16:03.879 --> 00:16:07.120them doing the things that we needto do so they can get ready for19700:16:07.159 --> 00:16:12.000the trade jobs that they know.Whether it's agriculture, hospitality, accountants,19800:16:12.559 --> 00:16:19.600I don't care what it is.We need more good quality workers. And19900:16:19.679 --> 00:16:23.080I'm going to say this, mostpeople that are going to take that track20000:16:23.159 --> 00:16:26.879and move that far, people thatwant to work, that want a better20100:16:26.960 --> 00:16:33.799life, they will do what ittakes. But you're not going to do20200:16:33.879 --> 00:16:37.559it and expose yourself if you feellike you're always going to be arrested or20300:16:37.600 --> 00:16:41.559sent back or deported or whatever.But we got to sift through to the20400:16:41.600 --> 00:16:47.320good ones versus the bad ones.Well, it's kind of interesting what's going20500:16:47.360 --> 00:16:49.840on there. It's not going toend well if this push comes to shove,20600:16:51.679 --> 00:16:55.360because I tell you right now,it's no different than people that are20700:16:55.840 --> 00:17:00.759threatening you at your house like theydid to those people in Illinois, and20800:17:00.840 --> 00:17:07.200they came out to defend themselves andthey got arrested. If they don't come20900:17:07.240 --> 00:17:11.200out and defend themselves. If wedon't defend ourselves in Texas and then probably21000:17:11.240 --> 00:17:18.279Arizona is going to have to doit next. The people that are going21100:17:18.319 --> 00:17:21.799to be in trouble the people thatlive here, and we're not going to21200:17:21.880 --> 00:17:23.480back down. The Texas is notgoing to back down and say, yeah,21300:17:23.519 --> 00:17:27.200come on, you know you caninvade my family, my place of21400:17:27.640 --> 00:17:30.920business, my place of living.Come on in, Let me pay for21500:17:32.000 --> 00:17:34.119you, Let me give your placesto live, let me give you food,21600:17:34.319 --> 00:17:37.160let me give you comfort. Meanwhile, we got poor people not eating21700:17:37.200 --> 00:17:44.640even close to being taken care oflike they are. It's all about common21800:17:44.720 --> 00:17:48.880sense right now, and it's obviousthat Washington has no common sense as the21900:17:49.000 --> 00:17:55.960behind they're fenced in properties, havingtheir servants make their meals and clean their22000:17:55.960 --> 00:18:03.480house, driving their gasoline cars.Well, all the regulations want to ruin22100:18:03.519 --> 00:18:07.960America. I don't know where itcomes from. I don't know where it22200:18:08.000 --> 00:18:11.720comes from, but I know,after hearing what we heard this week,22300:18:12.359 --> 00:18:18.440I don't trust, I don't believe, and I think it's rampant in politics.22400:18:19.759 --> 00:18:25.759And you know what I'm talking about, what's going on with Kerry Lake,22500:18:26.599 --> 00:18:32.200that's just a tip of the iceberg. But I cannot believe that the22600:18:32.279 --> 00:18:37.319powers to be of the Republican Partyhad the Republican Party chairman here go to22700:18:37.400 --> 00:18:45.799her house and try to bribe her. Now, think about this. He's22800:18:45.839 --> 00:18:49.680trying to lie his way out andsaid he was set up. And everyone's22900:18:49.680 --> 00:18:56.799heard the tape. Could you imagineif there was no recording and she just23000:18:56.799 --> 00:19:00.559says, I'm going to expose you. Which is fun going on for when23100:19:00.599 --> 00:19:03.000people come out and say these unbelievablethings and they're just say, no,23200:19:03.119 --> 00:19:07.440that's not true. They didn't hearit right. They were setting me up.23300:19:07.599 --> 00:19:08.920They were doing this and doing that, and that's what the media runs23400:19:08.920 --> 00:19:18.720with. This is cold hard facts. You have it on tape recorded offering23500:19:18.200 --> 00:19:23.319a job that will pay you moneywhile you sit out. The people back23600:19:23.400 --> 00:19:29.480east that you need to sit outwill help support you in the next race.23700:19:29.519 --> 00:19:32.799Why would she ever believe that?Why would she ever do it when23800:19:32.799 --> 00:19:38.680they didn't support it before. Soit's just not the Democrats, it's the23900:19:38.680 --> 00:19:44.759these Republicans that just want the power. They can't get out of their own24000:19:44.799 --> 00:19:49.519way. It is we need toshake up the whole damn thing. I24100:19:49.599 --> 00:19:56.039am so proud of Kerry Lake tobasically say on tape ten million, fifty24200:19:56.039 --> 00:20:00.200million, a billion, it doesn'tmatter. I cannot be bought. When24300:20:00.319 --> 00:20:07.200was the last time you heard thatfrom somebody. We certainly didn't hear from24400:20:07.200 --> 00:20:14.640a football coach here who left forfifty six million and that was legal.24500:20:15.680 --> 00:20:19.000So if they're trying to bribe her, now, how many Democrats get bribed24600:20:19.400 --> 00:20:26.160all the time, How many Republicansget bribed all the time. And if24700:20:26.160 --> 00:20:30.640you think the bribing people, whichI do now for sure, to run24800:20:30.680 --> 00:20:37.359the races they want, don't youdare tell me you don't think that they24900:20:37.839 --> 00:20:41.519fixed the election, that they cheatedon the election where they needed to be.25000:20:41.599 --> 00:20:44.880Don't tell me that. I'm notgoing to say I'm an election deny.25100:20:44.920 --> 00:20:45.480I'm not even going to say Iwant to go back there, but25200:20:45.559 --> 00:20:52.279damn it, going forward, ourelection better be clean. And the only25300:20:52.279 --> 00:20:55.559way are you going to do itwith all this stuff that we're hearing,25400:20:55.920 --> 00:20:59.279Arizona Republicans should vote and say,you know what, we're going to make25500:20:59.319 --> 00:21:03.160sure that our election coming up inNovember is going to be one ballot,25600:21:03.559 --> 00:21:10.400one person. We either match itup as a as someone that mailed it25700:21:10.440 --> 00:21:15.079in or you come down and doit and drop it off at the place.25800:21:15.400 --> 00:21:19.200None of this harvest harvesting, noneof this other stuff. We need25900:21:19.240 --> 00:21:23.640to go the opposite way right nowto convince people that our elections are clean26000:21:25.119 --> 00:21:29.440and legal, because right now,I don't believe it. If they're able26100:21:29.599 --> 00:21:36.799to go in and try to bribesomeone with tens of millions of dollars to26200:21:37.000 --> 00:21:41.680not run for Senate, that's takingaway our freedoms to who we want to26300:21:41.759 --> 00:21:48.680vote for. I want an honestelection, not just here but every single26400:21:48.720 --> 00:21:55.640state in America. That's what needsto be changed right now. These politicians26500:21:56.680 --> 00:22:00.119don't trust them. And at theend of the day, if you're bribing,26600:22:00.400 --> 00:22:03.319why you're not in jail. Whydid they not just go lock him26700:22:03.400 --> 00:22:07.440up? I don't care if heresigned. You couldn't do it. I26800:22:07.480 --> 00:22:12.799couldn't do it. Think about it. That was what we found out and26900:22:12.839 --> 00:22:19.000got caught. What's really going on. Where's the exposure to all this Democrats27000:22:19.039 --> 00:22:23.640and Republicans. That's why they hateTrump so much, and that's why they're27100:22:23.640 --> 00:22:27.559trying to get Trump through the courts, and that's why they're trying to stop27200:22:27.759 --> 00:22:33.599people like Kerry Lake they have tobe so extreme to the other side because27300:22:33.599 --> 00:22:38.880they have to fight, and theydon't want it that way. They want27400:22:38.920 --> 00:22:42.200someone that's moderate, they can control. I don't want that. I want27500:22:42.200 --> 00:22:48.039someone that's independent that can help usgrow this country. Stop the damn border,27600:22:48.000 --> 00:22:55.359keep our economy going, make ussafe in the with foreign policy,27700:22:55.559 --> 00:23:02.559that's what I want. I wantthe wars to stop. College's education to27800:23:02.640 --> 00:23:07.839become reasonable. I don't want tobe charging interest on college loans. If27900:23:07.880 --> 00:23:11.640you give or get a loan,you pay it back at a very low28000:23:11.680 --> 00:23:15.279interest, one to two percent,and give incentives to get it done.28100:23:17.160 --> 00:23:21.039I want a whole new immigration policyto teach each people how to go ahead28200:23:21.240 --> 00:23:23.799and learn their trades and do stuffand speak English and be able to become28300:23:23.839 --> 00:23:30.680a citizen down the road ten twelveyears to become an American citizen because they28400:23:30.680 --> 00:23:36.759did everything right. I want aborder that you can't get through unless we28500:23:36.880 --> 00:23:41.759allow you to come through both northand South. I want the drugs to28600:23:41.799 --> 00:23:45.319stop. I want the fen andall to stop. I want us to28700:23:45.359 --> 00:23:51.079go ahead and help Mexico clean uptheir entire country. I want us to28800:23:51.119 --> 00:23:55.720take everything away from China and bringit back to Mexico. We want cheap28900:23:55.799 --> 00:23:59.960labor. We'll get cheap labor fromthere. We'll save all the trades.29000:24:00.039 --> 00:24:07.519Interpretation, this seems too much.I'm sorry, but I believe this is29100:24:07.559 --> 00:24:11.119the way America has to go.I believe it's there. I believe we29200:24:11.160 --> 00:24:15.359need to start looking at changes.We need to start looking at five,29300:24:15.519 --> 00:24:18.839ten, twenty, thirty years out, not three months out, not one29400:24:18.920 --> 00:24:21.799year out, not two years out. We need a change in America,29500:24:22.680 --> 00:24:25.440and not a civil war. We'llbe back. This is Dean Greenberg.29600:24:25.599 --> 00:24:33.160I appreciate you listening to the moneyabout his show. Welcome back everybody.29700:24:33.240 --> 00:24:37.079It's the money about his show.Hope everyone's having a good weekend. Hey,29800:24:37.440 --> 00:24:41.480Dave, Dylan and sebast He's fillingin for Todd today. Yes he29900:24:41.640 --> 00:24:47.200is. God's over in California visitings. He great grandmother, great grandmother's ninety30000:24:47.319 --> 00:24:49.680seventh birthday. That's so cool.That is so My grandmother had one hundred30100:24:49.720 --> 00:24:52.680year at birthday. You remember thathere, I do. Did you know30200:24:52.720 --> 00:24:57.359your great grandmother? Yes? Youdid? Wow. When I remember my30300:24:57.400 --> 00:25:02.680great grandmother and she lived in brookAnd I didn't really understand most of this30400:25:02.720 --> 00:25:07.960untill later. She couldn't really speakto English. She came from Russia,30500:25:07.000 --> 00:25:12.119and I remember her sitting in thekitchen all the time in this kind of30600:25:12.160 --> 00:25:18.440big house. I'm like, LaterI found out that my great grandfather had30700:25:18.440 --> 00:25:22.480a lot to do with building thesubways, actually building the subways in New30800:25:22.559 --> 00:25:26.759York. Wow. He died andI never knew him. He died about30900:25:26.759 --> 00:25:30.240two or three years before I wasborn, but in nineteen ninety, nineteen31000:25:30.319 --> 00:25:36.240fifty five and stuff, he wasworth about eight and a half million dollars.31100:25:36.440 --> 00:25:41.480Wow. But my grandmother, Okay, had also another nine brothers and31200:25:41.519 --> 00:25:45.079sisters, so there was ten inthe family. Her and her brother were31300:25:45.079 --> 00:25:52.480always honest. The other eight stolefrom their mother. By the time I31400:25:52.559 --> 00:25:56.279got done to get passed on toother generations, nothing left, Oh my31500:25:56.319 --> 00:25:59.640goodness, nothing left. And that'swhat I remember. But I used to31600:25:59.680 --> 00:26:02.839go to a She's have these.I always thought they were like stuffed cows.31700:26:03.119 --> 00:26:07.000You were like almost life sized cowsup there, and I always like31800:26:07.000 --> 00:26:08.519like, like, what the hell? And I tried to play with him.31900:26:08.519 --> 00:26:12.759But I was always remember seeing herin the kitchen speaking Russian, and32000:26:12.839 --> 00:26:17.079she had the stockings on that shejust kind of rolled up just below the32100:26:17.160 --> 00:26:19.599knee. You know, today wealways have all athletes had those little wrap32200:26:19.640 --> 00:26:22.960around things like below the knee orthe That's what she was. That's what32300:26:23.039 --> 00:26:27.359she had was early and she wouldalways have us come in and hug us32400:26:27.599 --> 00:26:33.119and bring us in so close soI'm grass like I can't breathe, you32500:26:33.160 --> 00:26:34.559know, And then there was that. But that's what I remember, my32600:26:34.599 --> 00:26:38.079great grandmother. That's amazing. It'sa nice memory. I think it's amazing.32700:26:38.240 --> 00:26:44.240Ninety seven years old and you livelong enough that you not only watched32800:26:44.279 --> 00:26:48.240your grandchildren to grow up, getmarried, have kids, but your great32900:26:48.240 --> 00:26:52.599grandchildren and grow up. That's justamazing that her great grandchildren and are in33000:26:52.640 --> 00:26:56.559their twenties. That is quite arun and that is really special. Do33100:26:56.640 --> 00:27:00.160you think, Yeah? I thinkI was. I was nine my great33200:27:00.160 --> 00:27:06.480grammar dad. Yeah. I musthave been asked a dozen times this week,33300:27:06.559 --> 00:27:07.759what's going on with the stock market? What's going on with the stock33400:27:07.799 --> 00:27:11.480market? And really, if youstep back and look at it, it33500:27:11.519 --> 00:27:17.200really is a Goldielocks type of scenariofor stocks. It's the perfect storm.33600:27:17.640 --> 00:27:22.480If you will, you have agood economy, growing economy, you have33700:27:22.559 --> 00:27:26.079interest rates declining and inflation declining,oil prices declining, and then you're throwing33800:27:26.119 --> 00:27:33.079a little batch of a little doseof AI and you've got a really perfect33900:27:33.160 --> 00:27:37.119environment for stocks. So people thatare concerned anytime the market hits it an34000:27:37.160 --> 00:27:41.559all time high, obviously you're wantingto be a little bit more cautious.34100:27:41.960 --> 00:27:44.640But there's reasons for it, yeah, exactly, And I mean it's not34200:27:44.680 --> 00:27:47.640a bad idea to start being alittle cautious when the market's hitting all time34300:27:47.680 --> 00:27:48.640highs. If you have a bunchof profit, maybe take them off the34400:27:48.640 --> 00:27:52.319table and just raise some cash forwe we trimmed back last week. And34500:27:52.359 --> 00:27:55.640what I mean by that is ifyou have if you want to keep a34600:27:55.640 --> 00:28:00.400five percent position on just hypothetically onvideo and it's just skyrocket the beginning of34700:28:00.440 --> 00:28:03.599the year, and I have aten percent position, sell five percent bring34800:28:03.599 --> 00:28:06.079it back down to where you were. Now you got five percent in profits34900:28:06.079 --> 00:28:07.839that you're having cash, and youcan look for other opportunities. That's the35000:28:07.880 --> 00:28:11.319idea behind it. You don't wantto go all in, all out.35100:28:11.039 --> 00:28:15.720There's no saying, Dylan that younever grow broke, take in the profit35200:28:15.119 --> 00:28:18.480exactly and kick yourself. But youstill made the money. Right If you're35300:28:18.480 --> 00:28:22.079trying to buy at the low andsell it the high. That is never35400:28:22.240 --> 00:28:23.599going to happen. You're gonna gettoo greedy and you're gonna lose. If35500:28:23.599 --> 00:28:27.079you bought yourself. You know,one hundred shares that Nvidia at one hundred35600:28:27.119 --> 00:28:30.920and it's now at six hundred,and you haven't sold any you might want35700:28:30.960 --> 00:28:33.880to take them off the table.Get a little little thought to that doesn't35800:28:33.960 --> 00:28:37.240hurt. No. Typically I dothe section out of later points in the35900:28:37.240 --> 00:28:40.440show, but since we're talking aboutthose all time highs, I'm going to36000:28:40.480 --> 00:28:42.200do it now. Okay, ifyou have any questions and you want them36100:28:42.200 --> 00:28:45.559answered on the show, you couldwrite us in and that's contact at Greenberg36200:28:45.599 --> 00:28:49.119Financial dot com. This question comesin from Troy. He says, with36300:28:49.240 --> 00:28:53.759markets at all time highs, uncertaintiesaround the markets, and interest rates and36400:28:53.920 --> 00:28:59.359interest rates, I'm considering golden preciousmetals as a safe haven. It is36500:28:59.400 --> 00:29:03.400now a good time to invest inthem. Commodities by their very nature are36600:29:03.440 --> 00:29:07.799speculative. So if you're a youknow, an eighty year old with a36700:29:07.839 --> 00:29:12.599balanced portfolio, no, if you'rea twenty five thirty year old who wants36800:29:12.640 --> 00:29:15.640to tee it up a little bit, you'll have some fun. I mean,36900:29:15.680 --> 00:29:19.079gold's not too far off at theall time high. Is that a37000:29:19.079 --> 00:29:23.200place to be to loading up?You don't know. It doesn't do much.37100:29:23.279 --> 00:29:26.480I mean since I've been in thebusiness six years, it's just fluctuated37200:29:26.480 --> 00:29:30.319from eighteen hundred to twenty one hundred. Yeah, it doesn't do much.37300:29:30.519 --> 00:29:33.599It's thought of as an alternative.It's like just safe money in the sense,37400:29:33.640 --> 00:29:36.200but like you said, it's speculative. If you're looking for something more37500:29:36.240 --> 00:29:38.720safe, look to go to treasuries, look to go to corporate grade A37600:29:38.839 --> 00:29:42.599corporate bonds if you're looking to parkyour money somewhere for a long time,37700:29:42.680 --> 00:29:48.079or CDs. Yeah. In thein the perfect world, a gold moves37800:29:48.160 --> 00:29:52.960inversely to interest rates, which iswhy it's not a good inflation head.37900:29:52.079 --> 00:29:56.960If interest if you have inflation,interest rates are rising, and because interest38000:29:57.200 --> 00:30:02.240gold is priced in dollars, thedollar also rising, gold is going to38100:30:02.279 --> 00:30:04.079decline in that environment. Yeah,well you could look at it saying,38200:30:04.119 --> 00:30:07.039okay, we're thinking that interest ratesare going to drop, so maybe gold38300:30:07.119 --> 00:30:11.119is going to go up. Ifgold drops, then the US dollar drops,38400:30:11.200 --> 00:30:15.920then gold probably will do okay.But it's been kind of stuck in38500:30:15.279 --> 00:30:21.599around that twenty eighteen hundred twenty fiftyarea for a while now for a while.38600:30:21.720 --> 00:30:25.279But it is it is speculative.It's bitcoin. I mean it really38700:30:25.359 --> 00:30:30.240is speculative. Commodities are are whatsomebody's willing to pay you for them,38800:30:30.279 --> 00:30:34.599and there is no price earnings ratio, there's no sales, there's no corporate38900:30:34.640 --> 00:30:40.640governance. It is gold, yes, to mention a derivative of gold,39000:30:40.720 --> 00:30:42.920but yeah, that's not saying speakinga bitcoin. It was pretty flat for39100:30:42.960 --> 00:30:45.920the week. It dropped the lotduring the middle of the week. It39200:30:45.920 --> 00:30:49.200started at roughly forty one thousand andchange on Monday, and I mean it39300:30:49.240 --> 00:30:52.200goes twenty four to seven all thetime. But what we look at it39400:30:52.319 --> 00:30:55.440tends to be especially now that theETFs are out. You look for the39500:30:55.440 --> 00:30:59.279five days, and it was roughlyforty one thousand change on Monday and did39600:30:59.319 --> 00:31:03.160Friday one thousand change, and inthe middle it hit a two months low39700:31:03.759 --> 00:31:07.599exactly. So it really just cameback to flat. But I mean that's39800:31:07.599 --> 00:31:10.720why with bitcoin, like we say, it's very speculative, more so than39900:31:10.759 --> 00:31:12.720gold than it moves a lot.It's very volatile. Major change in the40000:31:12.759 --> 00:31:18.480market this week, we've been talkingabout the Magnificent seven, those seven stocks40100:31:18.480 --> 00:31:22.440that drove the market last year.We have now changed that. Now the40200:31:22.480 --> 00:31:29.079Magnificent seven is now gone and wehave the Super six, and we have40300:31:29.200 --> 00:31:34.079the Super six. Why dealing Tesla'sout of there? Tesla dammered on Thursday.40400:31:34.279 --> 00:31:37.119Tesla's just getting hammered. And thisshould not come as a surprise.40500:31:37.200 --> 00:31:44.519We've talked about on the show.EV's prices are dropping because of competition.40600:31:45.240 --> 00:31:51.240Ev prices are dropping because of slowingdemand. That Tesla would come out and40700:31:51.400 --> 00:31:56.359say that deliveries in twenty twenty fourcould be noticeably lower than they were in40800:31:56.400 --> 00:32:01.160twenty twenty three shouldn't have been shockto anybody, but it dropped the stock.40900:32:01.400 --> 00:32:07.000Tesla is now down I think twentyfive percent for the year, which41000:32:07.039 --> 00:32:09.359makes it somewhat less than magnificent,which means it was pretty flat because it41100:32:09.400 --> 00:32:15.759was down twenty five percent on Thursday. Think you got down to on a41200:32:15.799 --> 00:32:17.559Friday at Friday's close, it wasI think one eighty two or one eighty41300:32:17.599 --> 00:32:22.039three, and I thought, well, that might be an attractive entry point.41400:32:22.279 --> 00:32:25.440Then I'll look back a year agoit was one on one. A41500:32:25.519 --> 00:32:30.359year ago, Tesla stock was oneoh one. Yeah. And what we41600:32:30.400 --> 00:32:35.039always say too is stock craters likethis, be patient. It doesn't just41700:32:35.079 --> 00:32:37.079automatically the next day turn around andgo back up twenty five percent. It41800:32:37.160 --> 00:32:40.880tends to stay around. This mightdrop a little lower. Let it stabilize41900:32:40.920 --> 00:32:44.279before you go get your feet wetwith it. Let the dust settle.42000:32:45.079 --> 00:32:47.839Speaking of that magnificance Magnificent seven,you have a bunch of key earnings coming42100:32:47.920 --> 00:32:51.839up next week. You got Apple, Alphabet, Amazon AMD, which is42200:32:51.880 --> 00:32:54.680not part of the Magnificent seven,but you've kind of seen that run up42300:32:54.720 --> 00:32:59.519with the latest AI craze, andyou also have Meta and Microsoft's all next42400:32:59.519 --> 00:33:04.039week it's going to be a hopefullyalso, how's that mags etf doing.42500:33:04.960 --> 00:33:07.799Not They're gonna have to come outwith super or something on clobberard because their42600:33:07.839 --> 00:33:09.319Tesla, right, I know,but now it's not even Magnificent seven anymore.42700:33:09.319 --> 00:33:13.839They're gonna have to come out thenew et. It is amazing,42800:33:13.839 --> 00:33:15.759but next week is And of course, at the end of the day,42900:33:15.799 --> 00:33:20.480earnings are what drives the market,and and earnings have been good. They've43000:33:20.519 --> 00:33:23.960been strong. In addition to thisgrowing economy and the and the droppings the43100:33:24.359 --> 00:33:30.680Goldie auctioncenario I described earlier. Earningshave been so far pretty good this quarter,43200:33:30.079 --> 00:33:36.400and next week we get the biggestweek of earnings this entire quarter and43300:33:36.480 --> 00:33:40.400a lot of very major, bigname stocks that will move the market one43400:33:40.400 --> 00:33:46.119way or the other. I valuationsare becoming a bit of an issue,43500:33:47.200 --> 00:33:52.039but I always like to say valuationsdon't matter until they do. Yeah,43600:33:52.720 --> 00:33:54.720you know, you start to seethe market roll over a little bit,43700:33:54.759 --> 00:33:59.440then everybody starts to concentrate on valuations. Wha wait, wait a second,43800:33:59.599 --> 00:34:02.319this is the evaluation is awfully high, and like MRK is almost one hundred43900:34:02.319 --> 00:34:07.119times earnings, just well, Pfizer'sseventeen times earnings. And you wonder why.44000:34:07.159 --> 00:34:12.000You know, Merk recently made anacquisition of a company that specializes in44100:34:12.039 --> 00:34:15.320cancer treatments. And I've got tothink that the reason that merkstock has been44200:34:15.360 --> 00:34:19.239so strong is that people are thinkingthey're going to come up with a cure44300:34:19.760 --> 00:34:22.920for cancer. Now we know thatthere are many, many different types of44400:34:22.960 --> 00:34:25.400cancer. So when that happens,though, it can be good and the44500:34:25.440 --> 00:34:30.000stock will rise, but then it'lltank. Because it happened to Gilliad years44600:34:30.039 --> 00:34:32.280ago. Yes, there, Iforgot the exact disease. But they cured44700:34:32.280 --> 00:34:36.360this disease. Stock shot up.It was the greatest thing ever. But44800:34:36.400 --> 00:34:38.199then investors realized, Okay, they'regoing to cure the disease. Nobody's gonna44900:34:38.199 --> 00:34:42.920need the medicine anymore. That allof a sudden, their sales progestions dropped45000:34:42.920 --> 00:34:45.639and drop and dropped, and nowit's it just tanked again, typical by45100:34:45.639 --> 00:34:49.920the rumor sell the news kind oflike bitcoin, right exactly, It's something45200:34:49.920 --> 00:34:52.320they'd be aware of, like,Okay, they cure this disease, you're45300:34:52.360 --> 00:34:54.559not gonna want to keep that stockforever because they're gonna have to come up45400:34:54.559 --> 00:34:58.199with new revenu They're gonna have todo acquisitions. That's what Gilliad ran into.45500:34:58.360 --> 00:35:00.000They had to start buying other smallcompanies try and cure other things,45600:35:00.079 --> 00:35:05.960which is a good thing, butfrom a stock perspective, it's not the45700:35:06.000 --> 00:35:08.119greatest. No, that's a greatand that's great insidedylan and it's absolutely right45800:35:08.480 --> 00:35:13.000new all time high in all ofthe major industries this week, all time45900:35:13.079 --> 00:35:15.920high, not fifty two weeks,all time pushing five thousand on the SMP.46000:35:16.199 --> 00:35:20.000Marcus never been this high. Market. It's never been above forty nine46100:35:20.079 --> 00:35:24.559hundred. What was it in beforetwo thousand? Remember what was before the46200:35:24.599 --> 00:35:30.000dot com bubble? The SMP five. I don't I'm just curious around then.46300:35:30.039 --> 00:35:32.599No meanwow, but sure I wasaround them. I don't know.46400:35:32.639 --> 00:35:35.800Other random numbers. I don't know. Yeah, I don't know that one.46500:35:35.840 --> 00:35:37.440I'm sorry, I don't know thatone. Probably in the two thousands,46600:35:37.480 --> 00:35:40.519so it would be I was wonderingwhen when it hit the thousand.46700:35:42.360 --> 00:35:45.199I remember when the Dow hit onethousand for the first time. Okay,46800:35:45.239 --> 00:35:50.000because we had Dow one thousand caps. That was way after that. Then46900:35:50.280 --> 00:35:54.159nineteen three you got to coming upon a break. So we're going to47000:35:54.199 --> 00:35:57.840be back. Thanks for listening andtuning into Money Matter Show. We'll be47100:35:57.880 --> 00:36:06.000back. Welcome back to the MoneyMatter Show. Money of specially board seeing47200:36:06.039 --> 00:36:09.599him here with Dave Sherwood, DylanGreenberg, and Dean Greenberg. Here we47300:36:09.639 --> 00:36:15.039are again. There are again.We're here every Friday. It's like clockwork47400:36:15.079 --> 00:36:17.519again. We were talking every Sunday, I mean every Sunday. We were47500:36:17.519 --> 00:36:22.800talking about the market hitting new alltime highs and why you can actually make47600:36:22.840 --> 00:36:24.960a case that the market should beat all time highs. If it wasn't47700:36:25.559 --> 00:36:29.599at all time highs, you'd haveto wonder why. And we've said on47800:36:29.639 --> 00:36:34.840this show many many times that everymarket decline in history has one thing in47900:36:34.880 --> 00:36:39.320common. Every market decline in historyhas been followed by a new all time48000:36:39.400 --> 00:36:42.840high. It's crazy how fast itwent too. Because we were talking to48100:36:42.840 --> 00:36:46.480clients who came in initially back inthe beginning of October open accounts and then48200:36:46.559 --> 00:36:50.840wanted a fund it after the startof the year. So we met with48300:36:50.920 --> 00:36:53.639them last week and we were talkingabout their account how it was like,48400:36:53.639 --> 00:36:55.559Wow, it's got up a lot. They tend out to look at it,48500:36:55.599 --> 00:36:58.639they only want to look at ittwice a year, but said,48600:36:58.760 --> 00:37:01.639to look at them now, it'swere you were down at the beginning of48700:37:01.639 --> 00:37:05.719October, and it's like you don'teven remember that because it went up so48800:37:05.840 --> 00:37:07.000fast and so strong for the lasttwo and a half months of the year,48900:37:07.239 --> 00:37:12.320including the first few weeks in January, which we always expect. But49000:37:12.360 --> 00:37:15.280it's still crazy how fast that goes. Well. And the thing, the49100:37:15.360 --> 00:37:19.840thing that is almost always the matchthat unites a market rally like this is49200:37:19.880 --> 00:37:23.760a belief that interest rates are havepeaked If interest rates are going to be49300:37:23.760 --> 00:37:29.880coming down, that's good for everything. So so that that's one of the49400:37:30.000 --> 00:37:32.519one of the catalysts that sent thisthing going on. That note, an49500:37:32.559 --> 00:37:37.920early Friday Future Future Strading PEG chancesat ninety seven point four percent that the49600:37:38.000 --> 00:37:43.480race will hold steady this January thirtythirty thirty first out that either, oh,49700:37:43.559 --> 00:37:45.840you think they're going to start loweringthe race later this year, that's49800:37:45.840 --> 00:37:49.320not Why would you do that?If you're power, you've got to you've49900:37:49.320 --> 00:37:52.559got to go on exactly the wayyou wanted to go. What's the point.50000:37:52.679 --> 00:37:57.199Why why you you saved that AMMOfor when you need to add a50100:37:57.199 --> 00:38:00.519little fuel to a week ining economy. You know what it might hit too50200:38:00.599 --> 00:38:06.440big time is housing. Once theystart lolling rates the thousand prices against got50300:38:06.599 --> 00:38:09.519like again somewhere they did three yearsago when they raced went zero. I50400:38:09.559 --> 00:38:14.079hope not because that means that whenI own a house, Okay, I50500:38:14.079 --> 00:38:15.480hope not, because that means theinterrograce is going to go right back up,50600:38:16.559 --> 00:38:19.800and that's going to be the endof that. What we'd like to50700:38:19.800 --> 00:38:22.800have is some normality, right,some come back to normals. Fives in50800:38:22.840 --> 00:38:27.719the fours not go down to twoand a half percent for the right mortgage50900:38:27.760 --> 00:38:30.199ring. And I mean it helpsa lot of people. But right the51000:38:30.239 --> 00:38:35.440demand in the mortgage industry, it'sit's rising up three point seven percent last51100:38:35.440 --> 00:38:39.159week, which pushed the NBA MortgageBrokers Association's purchase index to its highest level51200:38:39.199 --> 00:38:44.800since April twenty twenty three. Thatdemand is starting an increase, hopefully Tod's51300:38:44.800 --> 00:38:47.760house or sell. There's an interestingETF that we came across a couple of51400:38:47.760 --> 00:38:50.880weeks ago to I don't know ifyou guys talked about it last week when51500:38:50.920 --> 00:38:53.480I wasn't here, but it wasXHB. It's the home Builders ETF.51600:38:53.719 --> 00:38:59.280It's an interesting stock player ETF playbecause it has it's the home Builders ETF,51700:39:00.119 --> 00:39:02.639but it has dr Horden, ithas KB homes in there, but51800:39:02.639 --> 00:39:06.840it's not a huge position, andit has Pulti Homes is another big position.51900:39:07.039 --> 00:39:09.360But what it also has is homeDepot, Low's, Williamson, Noma,52000:39:09.400 --> 00:39:14.239everything that goes into the house alongwith actual builders. So it's home52100:39:14.280 --> 00:39:17.199Builders ETF, but it has whatgoes into it too, so nice and52200:39:17.239 --> 00:39:21.960it's on as very bullish buy rightnow on this analytics that we follow.52300:39:22.239 --> 00:39:23.639Yeah, it was interesting. Yeah, No, that's a nice way to52400:39:23.639 --> 00:39:29.400play that. That's a good,good catcher. Dylan just quickly. Raytheon52500:39:29.480 --> 00:39:32.320had a great week. Raytheon jumpedabove ninety dollars for the first time in52600:39:32.400 --> 00:39:38.320several months. They came out withbetter than expected revenue and better than expected52700:39:38.400 --> 00:39:43.079net income. We've said on theshow here that that their business is not52800:39:43.119 --> 00:39:45.159going to go away. They're goingto be just fine, you know,52900:39:45.679 --> 00:39:49.679but it does take time. Soit's nice to see Raytheon pop up.53000:39:50.599 --> 00:39:53.320Did you guys notice that we're inthat time of the year where you get53100:39:53.320 --> 00:39:57.320a lot of people saying, comeon, make a donation to the Arizona53200:39:57.599 --> 00:40:00.800tuition tax credit, which I think, which I think we're all familiar with.53300:40:01.360 --> 00:40:04.760I don't know if you know thisor not. For twenty five years53400:40:04.800 --> 00:40:08.000we've been able to direct money tothe school of our choice. But in53500:40:08.280 --> 00:40:15.280Governor Katie hobbs twenty twenty four budget, she's following a campaign promise and proposing53600:40:15.320 --> 00:40:22.079to completely eliminate the tuition tax credit. Wow, why that's thinking that this53700:40:22.159 --> 00:40:29.840will take away the benefit that privateschools have and will make public schools more53800:40:29.920 --> 00:40:32.920desirable. In other words, ifyou can't get any kind of a benefit53900:40:32.960 --> 00:40:37.159from this tuition tax payer. Again, it was a campaign promise. I54000:40:37.199 --> 00:40:39.559think that odds of it happening,the odds of it happening. You don't54100:40:39.559 --> 00:40:43.159want to make public schools better.You want to keep like You don't want54200:40:43.159 --> 00:40:45.320to give public schools more funding.No, you want to make public schools54300:40:45.320 --> 00:40:49.639better, and you do that bynot allowing people to give twenty five hundred54400:40:49.639 --> 00:40:52.159bucks to private schools. Gotcha.God, So private school is going to54500:40:52.199 --> 00:40:57.000struggle more. They're gonna have toraise the tuition. That'll drive people to54600:40:57.039 --> 00:41:00.159public schools, which will make publicschools stronger, leave it or not that54700:41:00.360 --> 00:41:05.119strong as privatizing this public school.Yeah, you're gonna you're gonna hear that.54800:41:05.320 --> 00:41:08.119You're gonna hear that a lot.Yeah. Mexico reported their twenty twenty54900:41:08.159 --> 00:41:13.679three GDP growth. Do you understandMexico is booming right now? I can55000:41:13.719 --> 00:41:16.519see the economy in Mexico's booming.I don't know why everybody's leaving, It's55100:41:16.639 --> 00:41:22.719uh, things are going pretty well. The GDP growth last year was three55200:41:22.719 --> 00:41:28.400point two percent. The United Stateswas two point five percent. Mexico is55300:41:28.440 --> 00:41:31.360now the twelfth largest economy in theworld. They're also one of the main55400:41:31.440 --> 00:41:37.920buyers of natural gas from the UnitedStates. Because things are cranking uh,55500:41:38.000 --> 00:41:40.800A lot of people are realizing,as we've been saying on the show for55600:41:40.920 --> 00:41:46.000years, that if we can manufacturethings in Mexico cut the cost, we55700:41:46.039 --> 00:41:51.920can do them cheap dramatically, dramaticallythen China. And there's a lot of55800:41:51.960 --> 00:41:54.840that going on. Not enough,more and more is gonna happen, but55900:41:54.960 --> 00:41:59.800Mexico could clearly turn into one ofthe strongest economies around. I wonder if56000:41:59.840 --> 00:42:04.960that. I mean, obviously itplays into why China's economy is just stalling56100:42:05.079 --> 00:42:08.760right now. China's economy and stockmarket is it's unbelievable, and of course56200:42:08.760 --> 00:42:13.760they're Their big problem has been thereal estate bubble. Almost every one of56300:42:13.800 --> 00:42:19.320their private developers has now gone under. The Chinese stock market is at a56400:42:19.360 --> 00:42:22.440five year low, five year low. The Hong Kong stock market, the56500:42:22.480 --> 00:42:28.639Hangsing is at a fifteen year low. Oh it, it's been fifteen years.56600:42:29.239 --> 00:42:32.719So when we talk about China struggling, it's a mighty struggle. What56700:42:32.760 --> 00:42:36.440did they just do to their marketthat they're they're coming out with like a56800:42:36.440 --> 00:42:39.440stimulus package or something of this.Right, They announced last week a two56900:42:39.480 --> 00:42:46.119hundred and seventy eight billion dollar stimuluspackage that's being proposed. They also cut57000:42:46.119 --> 00:42:52.280bank reserve requirements. There. They'redoing everything they can do to stimulate the57100:42:52.320 --> 00:42:58.280economy, but until the real estatebubble works its way through, which can57200:42:58.320 --> 00:43:01.639take years, I don't know.Second, world's second largest economy, and57300:43:01.719 --> 00:43:06.679that the United States is cranking alongwithout any help from the world's second largest57400:43:06.679 --> 00:43:09.599economy is kind of going through whatwe went through right after we lifted all57500:43:09.599 --> 00:43:14.440the lockdowns or whatever. Because wedidn't go back to it. China had57600:43:14.440 --> 00:43:16.079in lockdowns like another year and ahalf. So now they're going through that57700:43:16.119 --> 00:43:22.360issue. That was a huge mistaketo lockdown again, and nobody wanted to57800:43:22.480 --> 00:43:24.920now, but you can't lock theeconomy down well. In a couple of57900:43:24.960 --> 00:43:29.320the universities back East decided to goback to mask mandates a couple of months58000:43:29.320 --> 00:43:32.519ago. That hospitals the just blewup. Yeah, just don't force on58100:43:32.559 --> 00:43:36.559everybody. I want to wear amask. You can't watch TV without seeing58200:43:36.599 --> 00:43:40.840fires. Are trying to advertise thevaccine or plaques o BID, which is58300:43:40.840 --> 00:43:45.280the tree Travis Kelsey twenty million.They paid him twenty million dollars. I58400:43:45.360 --> 00:43:50.280was about to say leaving alone,Travis Kelsey twenty million, twenty million bucks58500:43:50.320 --> 00:43:52.079to get on there and say yougot two shots, right, yep,58600:43:52.239 --> 00:43:57.840the flu in the in the COVIDshot. Ten year treasury and the two58700:43:57.880 --> 00:44:00.920year treasury. We still have aninverted yield. That's the one last thing58800:44:00.960 --> 00:44:05.159we keep waiting for for, youknow, goldilocks to be really pretty.58900:44:05.199 --> 00:44:07.360It's been like two years, notright, yeah, yeah, very close59000:44:07.400 --> 00:44:10.199to two years, Dylan. That'sa good, good catch. Ten year59100:44:10.239 --> 00:44:15.440treasury four point one six, twoyear treasury four point three six. That's59200:44:15.480 --> 00:44:19.679backwards. We're close, and thenwe're getting close again. An inverted yield59300:44:19.719 --> 00:44:23.320curve points to recession. So we'dlike to see the yield curve right itself,59400:44:23.840 --> 00:44:28.760which would officially delaybor. Say Oil, I've got a bid this week.59500:44:29.000 --> 00:44:31.559Really three dollars again too, reallyPrompts still have those problems in the59600:44:31.599 --> 00:44:35.639red Sea. Yeah, but theywere there before, and it seems like59700:44:35.719 --> 00:44:37.239you couldn't give it away. Imean, oil looked like it was on59800:44:37.519 --> 00:44:40.840a death spiral to fifty, youknow, but it did pick up some59900:44:40.880 --> 00:44:44.800steam this week ended at seventy eight, which was up four and at four60000:44:44.840 --> 00:44:49.280and three quarter dollars. Gold Downten Bucks finished at twenty sixteen on the60100:44:49.320 --> 00:44:52.920week, So that point on oil, Dave, Yeah, we had back60200:44:52.920 --> 00:44:55.400real quick. Global container shipping rateshave surge one hundred and twenty two percent60300:44:55.559 --> 00:45:00.320since November of twenty three, drivenby delays and rerouting from the red See60400:45:00.320 --> 00:45:05.039the composite rate for a forty footcontainer increase seven hundred and five dollars a60500:45:05.039 --> 00:45:07.000week over week. Boy, I'lltell you so that we're back to that60600:45:07.079 --> 00:45:12.079supply chain stuff again, and there'sthe uncertainty of getting things here, and60700:45:12.480 --> 00:45:15.440all the more reason to have thingsmade in Mexico. I agree with it,60800:45:15.519 --> 00:45:19.119right, all the more reason tothink. I think the big headline60900:45:19.159 --> 00:45:23.760this week was twofold. The PersonalConsumption Index, which is the Fed's favorite61000:45:23.760 --> 00:45:28.760barometer of inflation, was only uptwo tenths of a percent last month,61100:45:29.320 --> 00:45:31.719two point nine percent year over Youremember when they started this whole thing,61200:45:32.079 --> 00:45:36.440it was nine percent and their goalwas to get it down to two.61300:45:36.639 --> 00:45:38.960We're pretty darn close. Indeed,we're pretty darn close. And I think61400:45:39.599 --> 00:45:44.840I got to get a shout outto Sebastian here. Right before the Iowa61500:45:44.960 --> 00:45:50.760primary, you said that if Trumpwins, it might cause a little pop61600:45:50.840 --> 00:45:54.400in the Trump social media. Ihave some notes on this one, so61700:45:54.760 --> 00:45:57.880talk about it. Yeah, Iforgot about a man half. For people61800:45:57.920 --> 00:46:00.199that don't know the digital world,I was Usition Corp. D Whack is61900:46:00.199 --> 00:46:05.239a speck, a special purpose acquisitioncorporation. This is set to merge with62000:46:05.280 --> 00:46:08.639Donald Trump's media and technology technology group, which is behind the truth Social app.62100:46:09.280 --> 00:46:13.199True Social is kind of like aTwitter or x if you will,62200:46:13.440 --> 00:46:16.320if you don't know what that is. Stock spiked eighty eight percent to nineteen62300:46:16.360 --> 00:46:20.440month highs on Monday alone. Thatwas eighty eight percent on Monday. This62400:46:20.599 --> 00:46:23.199is that after you told us weshould buy this because if Trump wins Eyeway,62500:46:23.199 --> 00:46:25.679it might jump. Well, thiswas yeah. And then obviously I62600:46:25.719 --> 00:46:29.639didn't know DeSantis was going to dropout of the race, but everybody looked62700:46:29.639 --> 00:46:30.679at me silly on Friday, soI said, you know what, let62800:46:30.719 --> 00:46:35.000me just put it on by that. That didn't help. Santas made it.62900:46:35.159 --> 00:46:37.719No, it went up eighty eightpercent on Mondays. Yes, okay,63000:46:38.559 --> 00:46:42.639when he beat Haley. It didn'tdo it right, that's dropped.63100:46:44.119 --> 00:46:47.480It's extremely volatile people, extremelyolatile.And what I have there is, as63200:46:47.519 --> 00:46:50.920we know, stocks don't go straightup, and surgeon price seems to be63300:46:50.960 --> 00:46:55.239purely fueled by momentum and Trump's politicalsuccess, not fundamentals. Stock came back63400:46:55.440 --> 00:46:59.440down to earth following Trump's win inNew Hampshire, which put the stop to63500:46:59.480 --> 00:47:02.320this trend. Uh tread carefully.Yeah, I just wanted to give you63600:47:02.360 --> 00:47:06.760a shout out. Uh. Youknow in this office, we uh in63700:47:06.840 --> 00:47:08.679every brokerage office. You know,you'll you'll got well, you'll try this,63800:47:08.760 --> 00:47:12.440try that. And when you cameout and said that, look and63900:47:12.519 --> 00:47:15.840go god that that looks like it'sjust dead money. Why would it?64000:47:15.840 --> 00:47:20.440Why would anybody mess with this?But sure enough the Sunday Dessantis came out64100:47:20.480 --> 00:47:22.000and dropped out of the race,which I think, of course makes it64200:47:22.039 --> 00:47:27.559a Biden Trump uh contest. Again, that's pretty that's pretty much set now.64300:47:27.760 --> 00:47:30.800And UH come in the next dayand I stock it and it nearly64400:47:30.840 --> 00:47:34.559doubled the day after you hit.It's like when it first went public.64500:47:34.719 --> 00:47:37.280Oh yeah, it was amazing.Even after it's twenty five percent drop,64600:47:37.320 --> 00:47:38.880it's still up one hundred over onehundred percent in the last month. It's64700:47:38.920 --> 00:47:43.719amazing, ridiculous. It calls abashed in Borsini. We'll be back with64800:47:43.800 --> 00:47:46.119the second half of the Money MetaShow right after this message. Thanks again64900:47:46.159 --> 00:48:00.360for joining us. It's only awelcome back to the secon An Hour,65000:48:00.440 --> 00:48:04.239The Moneymatter Show. I'm Dylan Greenberg. I'm here with Sebastian Borsini, Dean65100:48:04.280 --> 00:48:07.400Greenberg, and Dave Sherwood. Forthose that you just tuning in too,65200:48:07.440 --> 00:48:09.920it's having fun over in California witha great grandma, ninety seven year old65300:48:09.960 --> 00:48:15.239great grandmother having her birthday. Yep. But for those of you turning it65400:48:15.280 --> 00:48:17.599into the Dow was up point sixpercent for the week. The SMP five65500:48:17.679 --> 00:48:22.400hundred was up one point one theNAZAC was up point nine percent. The65600:48:22.480 --> 00:48:25.039Russell two thousand led the week,which is a small cap at one point65700:48:25.039 --> 00:48:29.239eight percent. It was up thatmuch. An RSP the equal way to65800:48:29.440 --> 00:48:32.840SMP five hundred was up one pointone percent or for the week. The65900:48:32.880 --> 00:48:37.079one thing I think, the oneword to describe this market is resilient.66000:48:38.599 --> 00:48:43.280It tried a couple of times duringthe week to shell off and they're just66100:48:43.599 --> 00:48:46.639wasn't a lot of interest on thedownside, and there really wasn't even Friday66200:48:46.840 --> 00:48:50.519an open mix. There's kind offlat and then it jump and then it66300:48:50.559 --> 00:48:52.719just jumped up a lot. Atone point, I think S and P.66400:48:52.800 --> 00:48:54.880It was down with twelve thirteen fourteenpoints at one point on Friday,66500:48:54.880 --> 00:49:00.280and they came back close flat likeall was going to the week and it66600:49:00.679 --> 00:49:02.320don't really care, you know,a yeah, and those you're just tuning66700:49:02.360 --> 00:49:06.880in. And all three indicies hitall time house but Dows over thirty eight66800:49:06.920 --> 00:49:10.400thousand, Nasdak's over fifteen thousand,five hundred, SMP's almost five pounds.66900:49:12.000 --> 00:49:15.320And I was a broker when theynow hit in one thousand for the first67000:49:15.320 --> 00:49:19.119time. So when you whenever yousee the market drop, you want to67100:49:19.159 --> 00:49:22.920look for what you should be buying. Same with real estate. When the67200:49:22.920 --> 00:49:24.400real estate market tanks, what doyou do, you know, just run67300:49:24.440 --> 00:49:28.440out and tell your house you gobuy another house. Yeah, And by67400:49:28.480 --> 00:49:30.400doing that, take advantage of someprofits you have if you want to.67500:49:30.519 --> 00:49:34.280If you have no cash right now, let me look to take some profits67600:49:34.320 --> 00:49:37.119off something that's jumped up a lotover the last few weeks, month,67700:49:37.239 --> 00:49:40.480or whatever it is. If youhave a lot of you're over really overweight67800:49:40.880 --> 00:49:44.760in a certain eta and a certainstock, you know, you look to67900:49:44.800 --> 00:49:47.199take some profit. We reduce toour market exposure. I think three to68000:49:47.199 --> 00:49:50.840five percent of last week. I'mnot a big deal. We're still in.68100:49:51.199 --> 00:49:52.480If it keeps going, we'll bedoing just fine. Yeah. And68200:49:52.480 --> 00:49:55.280if you're in an IRA really thatyou don't really have to even worry about68300:49:55.280 --> 00:49:59.360capital gains tax or anything like that. If you have a regular taxable broker's68400:49:59.360 --> 00:50:01.239account. That is thing to keepin mind. If you have a large68500:50:01.440 --> 00:50:05.719game and you sell all of itbecause you just want to take it all,68600:50:05.719 --> 00:50:07.159you're gonna have to deal with thetaxes on that. We've been saying68700:50:07.199 --> 00:50:10.480over the last few weeks that wethought twenty twenty four would be more about68800:50:10.559 --> 00:50:15.719value and less about the Magnificent sevenor the super six, whatever you want68900:50:15.719 --> 00:50:20.480to call it now, and thathas turned out simply not to be true.69000:50:20.559 --> 00:50:25.039Yet. January was a was acarbon copy really of December, with69100:50:25.199 --> 00:50:31.360the tech stocks leading the way andthe more representative equal weighted S and P69200:50:31.480 --> 00:50:36.880five hundred lagging. In fact,with the Nasdaq up three percent, the69300:50:36.920 --> 00:50:39.440S and P five hundred, theNASDAK, the Dow All setting new all69400:50:39.519 --> 00:50:45.840time record highs, the equal weighteds and P five hundred is down for69500:50:45.920 --> 00:50:49.679the year, just two tenths ofa percent, but still it's down for69600:50:49.760 --> 00:50:53.000the year. It just it's justkind of one of those odd things.69700:50:53.519 --> 00:50:58.199It's just nvidios. Still it's ridiculous. Yeah, no, it were six69800:50:58.239 --> 00:51:01.039hundred dollars a share. It isjust a couple of deadlines for you.69900:51:01.159 --> 00:51:04.800I know, this time of theyear, everybody's thinking about taxes and doing70000:51:04.800 --> 00:51:07.679the taxes, and I can't waitto get my ten ninety nine and what70100:51:07.800 --> 00:51:08.960am I going to get my tenninety nine R? And what am I70200:51:09.000 --> 00:51:13.599going to get my K one.There's a couple of deadlines. The ten70300:51:13.719 --> 00:51:16.519ninety nine R, which is fromretirement accounts, any withdrawals you made from70400:51:16.519 --> 00:51:22.119retirement accounts, whether it be yourrequired minimum distribution or just took money out70500:51:22.199 --> 00:51:27.159to do something. The deadline tohave those in the mail is January thirty70600:51:27.159 --> 00:51:30.719first. Now, if you haveonline access, many of the firms have70700:51:30.840 --> 00:51:34.800them online right now. But ifyou're going to wait for it to come70800:51:34.840 --> 00:51:37.800in the mail, the deadline tohave those mail is January thirty first.70900:51:37.159 --> 00:51:42.079The ten ninety nine, which isthe one that almost everybody is waiting for71000:51:42.960 --> 00:51:49.039about six or seven years ago.The brokerage industry convinced the IRS that if71100:51:49.079 --> 00:51:53.119they would allow the brokerage industry tohave two more weeks, it would dramatically71200:51:53.159 --> 00:51:59.119cut down on the amended ten ninetynine. Remember the clearing firm that your71300:51:59.119 --> 00:52:04.840broker works with issues the ten ninetynine based upon information provided from outsiders,71400:52:05.320 --> 00:52:08.599and that information can be adjusted actuallyfrom up to five years. But this71500:52:09.079 --> 00:52:15.039was not unusual back in the day. To the middle of February, end71600:52:15.079 --> 00:52:19.159of February, get an amended tenninety nine and maybe you'd already filed your71700:52:19.159 --> 00:52:22.079taxes. You don't know what amI supposed to do now? And file71800:52:22.119 --> 00:52:25.800amended return. So the IRS allowedthe brokerage industry to have two more weeks.71900:52:25.840 --> 00:52:30.840So you're ten ninety nine from yourbrokerage account. The deadline to have72000:52:30.960 --> 00:52:37.679those sent out is February fifteenth.The deadline for k once March fifteenth,72100:52:37.199 --> 00:52:40.639so you've got just just be patient. You can go ahead and get your72200:52:40.920 --> 00:52:45.159March appointment with your with your taxguy, but just be patient. Also,72300:52:45.199 --> 00:52:49.760if you have not filed your taxesyet, you can still contribute to72400:52:49.840 --> 00:52:52.159an IRA orth IRA for twenty twentythree if you did not max out last72500:52:52.239 --> 00:52:54.039year, but you want to tryand max out this year, or just72600:52:54.079 --> 00:52:59.039put more to your accounts. Youcan still contribute for twenty twenty three up72700:52:59.119 --> 00:53:02.880until you fire your tax and youcan also get tax credits. That's what72800:53:06.400 --> 00:53:09.840tax credits for twenty four though forfor twenty three if you get it in72900:53:09.880 --> 00:53:16.159before April fifteenth. Tax credits onpublic schools, private schools. We're just73000:53:16.199 --> 00:53:19.639talking about that, thinks. Yeah, Katie Hobbs is going to do away73100:53:19.679 --> 00:53:25.960with Yeah. Yeah, what shewants to do is is UH is changed73200:53:25.960 --> 00:53:30.280the UH not give so many vouchersaway. No, she wants you to73300:53:30.280 --> 00:53:35.320eliminate the tuition tax credit period pagenine of the budget. It's not gonna73400:53:35.320 --> 00:53:42.039happen, so anyway we'd would Onething. I've been noticing the number of73500:53:42.119 --> 00:53:45.559layoffs. Have you seen it?Not a day goes by we don't hear73600:53:45.559 --> 00:53:49.800about some major company laying off onethousand, fifteen hundred two thousand people.73700:53:49.880 --> 00:53:52.199Yeah. I mean the one thatmade the most sense I saw last week73800:53:52.239 --> 00:53:55.320was Microsoft. They laid off nineteenhundred employees from their gaming division, which73900:53:55.360 --> 00:54:00.000was about nine percent of that totaldivision. And that's because of that acquisition74000:54:00.079 --> 00:54:04.760and from they acquired Activision Blizzard.Yeah, and now they're bringing over Activision74100:54:04.760 --> 00:54:07.559Blizzard employees, so they're going toput them in there, which I mean,74200:54:07.599 --> 00:54:09.159I think that's one of the bestacquisitions they had. Of sixty nine74300:54:09.199 --> 00:54:13.679billion dollars. It was their largestone by far, more than Double LinkedIn,74400:54:13.719 --> 00:54:15.920which was their largest one previously.You know what I mean. In74500:54:15.960 --> 00:54:21.280twenty twenty three, companies laid offa total of seven hundred thousand workers.74600:54:21.599 --> 00:54:25.559That's one hundred and fifteen percent increaseover twenty twenty two and the highest since74700:54:25.599 --> 00:54:30.199twenty twenty. Job openings fell tomore than two and a half year low.74800:54:30.320 --> 00:54:34.559Remember how we couldn't find employees.Not the case anymore. Job openings74900:54:34.599 --> 00:54:37.760two and a half year low.Layoff announcements have continued. In twenty twenty75000:54:37.760 --> 00:54:42.599four, I pulled up a listof the layoffs that have taken place in75100:54:42.599 --> 00:54:45.360the last twelve months. It wasit was fourteen pages long. Dave,75200:54:45.559 --> 00:54:50.960this is what I don't understand wherethe market is. The economies could but75300:54:51.159 --> 00:54:57.599jobs are starting to open, whichmeans people aren't working. I don't know75400:54:57.639 --> 00:55:00.199what it is. I don't needit, but you know, the job75500:55:00.239 --> 00:55:01.639opening just two and a half yearlow. Yeah, no, not a75600:55:01.719 --> 00:55:05.840lot of people looking for people.They just got out. I don't know75700:55:05.920 --> 00:55:07.639what's going on. Yeah, noone's looking for jobs. It's slowing down,75800:55:08.199 --> 00:55:10.159but the markets keep making new home. I mean, if you're in75900:55:10.239 --> 00:55:13.599these tech companies, they might giveyou a good severance package. They're not76000:55:13.679 --> 00:55:16.119really gonna actively look for a jobright away because I know Microsoft, those76100:55:16.159 --> 00:55:20.360people that were laid off, theygive them a great severance package, so76200:55:20.480 --> 00:55:22.239they might just take a few monthsoff, just stop looking for work.76300:55:22.239 --> 00:55:27.079I don't know, well, butI don't. I don't trust those numbers.76400:55:27.119 --> 00:55:30.320They I don't trust anything anymore.It's been showing us that, you76500:55:30.400 --> 00:55:32.719know what, they can manipulate anythingand everything they want. And who cares76600:55:32.960 --> 00:55:36.760because down in two months from now, they can redo the numbers the way76700:55:36.760 --> 00:55:39.000they want them. It's revised,and then nobody pays an attention to what76800:55:39.039 --> 00:55:43.679the revised was. It's just sod I'm gonna we're gonna take a trip76900:55:43.719 --> 00:55:46.599to the ev Garage because I knowit's Dean's favorite segment, and h he'll77000:55:46.679 --> 00:55:50.960he'll like to like to hear aboutthis, right, I can't wait to77100:55:51.679 --> 00:55:55.039iv Oh, let's see Ford hascut their production on it. Tesla's earnings77200:55:55.039 --> 00:56:00.639weren't as good. Uh, they'reworried about the going forward and who wants77300:56:00.679 --> 00:56:02.719to buy cars. Jaz Ferry neversaid the ev garage is only good news.77400:56:04.360 --> 00:56:07.119I started, okay, listen up. I started this segment about six77500:56:07.199 --> 00:56:13.960months ago for educational purposes, right, and part of that education is talking77600:56:14.119 --> 00:56:16.960about what I'm going to talk abouttoday, and that's problems with electric cars.77700:56:17.480 --> 00:56:22.440That's what wanna talk about today.Let's face it. We got involved77800:56:22.480 --> 00:56:25.280with it because you were very interestedand you got one, so you'll put77900:56:25.320 --> 00:56:28.960your money where your mouth is.You wanted to see what it was all78000:56:29.000 --> 00:56:30.719about. You wanted to see thegood and the bad. And you've been78100:56:30.719 --> 00:56:34.599honest about it both times, bothplays. Thank you. So here's the78200:56:34.679 --> 00:56:37.760bads right about an electric car.First of all, is cost. The78300:56:37.880 --> 00:56:42.280cost of electric cars high. That'swhy there's so many haters out there when78400:56:42.320 --> 00:56:46.000it comes to electric cars. Theysee it as a rich person's toy range.78500:56:46.599 --> 00:56:50.480It's a great around town car,but taking it on the road is78600:56:50.639 --> 00:56:52.559more work than I'm willing to putin. You have to plan, you78700:56:52.639 --> 00:56:55.960have to be willing to set forforty five minutes to an hour to charge.78800:56:58.199 --> 00:57:01.480It's just too much work. Sparetire. They don't have spare tires.78900:57:01.599 --> 00:57:05.920Although this is interesting. In preparingthis piece, Dan, this is79000:57:06.000 --> 00:57:10.280wild, I learned that thirty percentof new gasoline powered cars do not have79100:57:10.360 --> 00:57:15.800spare tires. Must have started somethinghere and I don't like it. I79200:57:15.800 --> 00:57:19.199don't understand why you don't have thatin they save money thirty percent. Yeah,79300:57:19.480 --> 00:57:22.920you might have Wait, it's youcan get to spare tire in most79400:57:23.000 --> 00:57:28.679places as an option, as anot on pay extra right. Reliability is79500:57:28.719 --> 00:57:31.880a problem. EV's have twice asmany problems as gasoline powered cars. Full79600:57:31.960 --> 00:57:37.079disclosure. Tesla is an exception.New technology is often a work in progress.79700:57:37.159 --> 00:57:42.480But Tesla's been doing this for sixteenyears. Most other guys sixteen minutes.79800:57:42.519 --> 00:57:45.119You know it that you have,that you're having problems shouldn't be a79900:57:45.199 --> 00:57:52.159shock. Public charging infrastructure, farinferior to gasoline stations, take time.80000:57:52.239 --> 00:57:57.480It takes to fill up dramatically longer. You have to have a home charger.80100:57:57.679 --> 00:58:00.639That's a thousand bucks roughly, Butyou've got to have home charger if80200:58:00.679 --> 00:58:05.960you're gonna have electric vehel learning curvelearning curves does not exist with gasoline par80300:58:06.079 --> 00:58:08.239vehicles. We all know how tooperate those right. Hard to jump in80400:58:08.360 --> 00:58:13.480and take off with an electric carwithout some type of a tutorial. I've80500:58:13.519 --> 00:58:20.280had mine for seven months and I'mstill learning. Lastly, repairs body shops80600:58:20.280 --> 00:58:23.679are controlled by Tesla and they won'tgive the replacement parts to just anyone.80700:58:24.239 --> 00:58:28.079So that's and that's going to runup the cost. It's gonna run the80800:58:28.159 --> 00:58:30.199car. Well. That said,my Tesla was the most fun I've ever80900:58:30.239 --> 00:58:32.079had in a car, and Imay be addicted. I was going to81000:58:32.119 --> 00:58:36.960say, you know what's not aproblem with Tesla's speed, you had Damn.81100:58:37.000 --> 00:58:39.239Sebastian had his first ride in theTesla last week. They took me81200:58:39.280 --> 00:58:44.440out on Tuesday and man, itwas incredible. It's it knocks you back81300:58:44.440 --> 00:58:52.119in your seat when you really gopedal to the metal Teslas. There was81400:58:52.159 --> 00:58:55.639a race. There was a TeslaRoaster versus nine to eleven Porsche, and81500:58:55.719 --> 00:59:00.639the Tesla Roaster was pulled another one, another nine eleven Porsche while it beat81600:59:00.840 --> 00:59:05.719the house. Yeah. I washaving this conversation with Todd Blake. If81700:59:05.760 --> 00:59:07.840I'm looking for a car that Ijust want pure speed, I think I81800:59:07.960 --> 00:59:10.679might have to go with the Tesla. I don't what else beats it?81900:59:12.039 --> 00:59:15.239No, there's nothing beats it inI'm never I'm never challenged at a light82000:59:15.360 --> 00:59:19.360anymore, whether it's a Carvette,Maderati, whatever, they don't challenge you82100:59:19.760 --> 00:59:22.719at all. Oh what were youchallenge before? Oh? I was challenged82200:59:22.719 --> 00:59:25.199plenty, buddy, I was challengedplenty of There's no way I pull up82300:59:25.199 --> 00:59:29.719to light. Go Okay, thisguy wants to write some racing because you82400:59:29.800 --> 00:59:30.760beat him, they might kill you. If you don't beat them, they82500:59:30.800 --> 00:59:34.039might kill you. Who knows what'sgoing to happen. I just ignore.82600:59:34.599 --> 00:59:37.559But you don't think you buy aMaserati or a Porsche because they're fast.82700:59:37.880 --> 00:59:39.599You don't think that's the part ofthe part of the I buy cars that82800:59:39.679 --> 00:59:45.920I can fit in. Okay,I like them fast, all right,82900:59:45.280 --> 00:59:51.639they like fast cars anyway. Ilike smooth cause if you are going ninety83000:59:51.760 --> 00:59:53.559or ninety five one hundred, whichyou don't really should be doing, you83100:59:53.639 --> 00:59:57.159don't even realize it and you haveto pull back because it's just smooth,83200:59:57.360 --> 01:00:00.760can't. What's the quietest car you'veever ridden in Sebastian? Probably the Tesla,83301:00:00.039 --> 01:00:04.880Definitely the Tesla. Yeah, no, no, no engine nise no83401:00:05.039 --> 01:00:07.760kidding weird, Yeah, no,it is. Listen, I was driving83501:00:07.800 --> 01:00:12.239one they gave me a many yearsago, even before it got hot on83601:00:12.320 --> 01:00:15.800the CV they gave me. Uh, I had a Panama and they so83701:00:15.920 --> 01:00:19.039I had mine was in so theygave me. Said all we have was83801:00:19.079 --> 01:00:22.559the electric one for you. Okay, I never knew the call was on.83901:00:22.320 --> 01:00:25.239Yeah, I hated it. Well, it's not on really unless you're84001:00:25.320 --> 01:00:29.599driving it. You press the thing. I had no idea. At least,84101:00:29.639 --> 01:00:32.119when you turn on a car,you get you hear it. I84201:00:32.320 --> 01:00:37.039like it when you don't have itand you go, Okay, what's going84301:00:37.079 --> 01:00:39.880on here? Am my car on? Is it not on? It's definitely84401:00:40.000 --> 01:00:44.519learning. Well yeah, but youknow you with the electric car, you84501:00:44.559 --> 01:00:46.480put your foot on the brake andthe screen lights up and you're ready to84601:00:46.519 --> 01:00:50.519go. I mean it's that simple. There's no on button or off button.84701:00:51.079 --> 01:00:52.960But the funniest thing when I whenI drive my wife's car, uh,84801:00:53.519 --> 01:00:58.320we take that to California because againit's a hassle to take the electric84901:00:58.400 --> 01:01:00.119out on the road. So wetake my wife's card. At California,85001:01:00.719 --> 01:01:05.280we got we got to heal abend and stop for a bathroom break.85101:01:05.519 --> 01:01:07.320I get out of the car andgo in, and she goes, are85201:01:07.360 --> 01:01:09.920you gonna shut it off? Igo, oh, I forgot, because85301:01:09.920 --> 01:01:14.360you don't shut off an electric car. You close the door lock and it's85401:01:14.400 --> 01:01:16.440off. There's no button. No, there's no on off button. No.85501:01:16.639 --> 01:01:20.280You when you get out of thecar, you put your foot on85601:01:20.320 --> 01:01:22.760the brake, and then the screenlights up and you're good to go.85701:01:22.960 --> 01:01:24.480No. I think what I thinkis neat is when you're driving it and85801:01:24.559 --> 01:01:28.079you take your foot off the pedal, it just almost brings you. It's85901:01:28.119 --> 01:01:30.280a complete stop. And we talkedabout that early on the show or a86001:01:30.320 --> 01:01:34.360couple of weeks back, about howthis could be a good safety feature for86101:01:34.440 --> 01:01:37.119older people if somebody has a strokeor something behind the wheel, at least86201:01:37.159 --> 01:01:40.920the car will come to a stop. Yeah. The we'recoming braking is very86301:01:40.960 --> 01:01:45.559cool and it takes some getting usedto again learning curve. The first couple86401:01:45.599 --> 01:01:47.079of days you have an electric vehicle, it's going to be pretty jerky,86501:01:47.760 --> 01:01:52.360But then once you finally figure itout, it's really cool. On the86601:01:52.440 --> 01:01:55.599brakes. Are the brakes are warrantedfor life? Dan warranted for life.86701:01:55.679 --> 01:01:59.320Could you don't use them? That'scool, kind of cool. Huh.86801:02:00.159 --> 01:02:01.960Let's move on. So let's talka little bit about buoying, because we86901:02:02.079 --> 01:02:05.440talked about that on the show.Right, we've talked about that a lot.87001:02:06.079 --> 01:02:08.079We thought there might be some buyinginterest under two hundred. There was,87101:02:08.360 --> 01:02:12.800and it dropped a two hundred andbanged back to two fifteen. But87201:02:12.920 --> 01:02:15.679we also urged caution and we said, these things do tend to take time87301:02:15.800 --> 01:02:20.039to work themselves out. And what'shappening. It's taking time to work these87401:02:20.119 --> 01:02:22.880out. Well, Southwest Airlines goahead, don't. Well what the FAA87501:02:22.039 --> 01:02:25.639said, they can. They're aboutto be able to resume the flying of87601:02:25.760 --> 01:02:30.519the grounded current grounded Max nines,right, but they're not letting them increase87701:02:30.559 --> 01:02:34.840their production of the plane. Well, Southwest said, we're not interested in87801:02:34.840 --> 01:02:37.679anymore right now. Yeah, youknow this is this is not good.87901:02:38.480 --> 01:02:42.280If you're a boy, I justdon't what it's like there is again,88001:02:42.360 --> 01:02:45.599it's because they knew what was goingon. They just put in production the88101:02:45.639 --> 01:02:47.800first time. It's now you feellike they know what's going on. It's88201:02:47.800 --> 01:02:50.639like, yeah, I we'll justdeal with it when it happens. Because88301:02:50.639 --> 01:02:53.400they'll just figure it out and payit off or whatever. It's just fixing88401:02:53.400 --> 01:02:57.719it and taking the time to fixit all. It's just an example of88501:02:58.079 --> 01:03:02.320a of a typically dean. Whena stock drops big like that, don't88601:03:02.440 --> 01:03:07.639try to catch a falling knife.That's that's right, that's Tesla. Tesla88701:03:07.760 --> 01:03:09.920is that? Yeah, Tesla rightnow. I had some calls that wanted88801:03:09.920 --> 01:03:13.320to buy Tesla Soul, we buyTesla right away, and I'm like,88901:03:13.480 --> 01:03:15.679well, hold off a little bithere, see how it all comes out.89001:03:15.800 --> 01:03:19.599And I said, I'm actually lookingfor places to maybe take some money89101:03:19.639 --> 01:03:22.880off the table. I mentioned earlierthat in January of twenty twenty three,89201:03:23.239 --> 01:03:27.599a year ago, it was oneon one. Was one on one,89301:03:27.679 --> 01:03:29.519Oh, I know, and itran all the way up to what was89401:03:29.599 --> 01:03:32.039it three hundred or something, hfour hundred? Yeah, did you get89501:03:32.039 --> 01:03:36.840to four hundred? I don't know. I don't think it doesn't matter.89601:03:37.000 --> 01:03:39.639I'm talking about within the last twelvemonths. Oh gotcha, and it's falling89701:03:39.679 --> 01:03:43.320again. But yeah, that's theone thing we've learned in this business.89801:03:43.320 --> 01:03:46.239Stocks drop, don't go in andbuy them right away. And their business89901:03:46.400 --> 01:03:51.920is not good right now? Okay, their business is not good yes,90001:03:52.000 --> 01:03:54.400they make the best electric car outthere. There is demand for electric cars,90101:03:54.440 --> 01:03:58.559but the demand is slowing down.Let's take it on the other side.90201:03:59.000 --> 01:04:00.880Raytheon came all way down. Let'stalk about that. It came all90301:04:00.880 --> 01:04:05.000the way down. Target came allthe way down. Once they settled down90401:04:05.039 --> 01:04:09.559there for a while and people forgeteverything the good byes. Target went from90501:04:09.599 --> 01:04:16.280basically one ten to Raython was downabout seventy second six, it's back to90601:04:16.360 --> 01:04:19.280eighty five. I still think it'sgot more upside. It broke ninety last90701:04:19.360 --> 01:04:23.239week. Yeah, it broke aboveninety. But last week briefly and uh90801:04:23.440 --> 01:04:28.079and then was the other one,Disney went all the way down to what90901:04:28.280 --> 01:04:30.719was it seventy eight or something,and it's back over ninety. All right,91001:04:30.840 --> 01:04:35.079So look for opportunities. There's alwaysgonna be opportunities if you are patient.91101:04:35.840 --> 01:04:39.800Disney seems to be getting a bidnow right now. It seems to91201:04:39.880 --> 01:04:45.400be more favorable to people. It'sbecause there's that proxy fight going on.91301:04:45.559 --> 01:04:48.159Two of them. Yeah, whowas it? I can't remember as a91401:04:48.199 --> 01:04:53.079long time. Two hedge funds ortwo hedge funds are involved, right,91501:04:53.360 --> 01:04:57.800and that's that typically means good thingsbecause they're there for one reason only,91601:04:57.840 --> 01:05:00.840and that's to enhance yourholder value.Right. But also with that saying that91701:05:00.880 --> 01:05:03.320there's always an opportunity to buy stocksthat come down, you want to look91801:05:03.320 --> 01:05:05.400for the companies that you believe inthen you think will be around for a91901:05:05.440 --> 01:05:09.119long time, like a Disney,like a Raytheon, like a Boeing.92001:05:09.760 --> 01:05:13.199Not those companies that, like intwenty twenty, just skyrocketed then they came92101:05:13.280 --> 01:05:15.800back down. They're not going todo it again necessarily like that because they're92201:05:15.800 --> 01:05:19.000fundamentals suck. So what it isis if they go back down to a92301:05:19.079 --> 01:05:24.360penny stock price, is because that'stheir true valuation. You know what I'm92401:05:24.440 --> 01:05:28.239saying. You made a great point. I should have said quality companies exactly.92501:05:28.599 --> 01:05:30.679Quality companies like a Boweling is inthat scenario it was down before and92601:05:30.679 --> 01:05:34.000stall all the tech companies, Yeah, deserves to be a penny stock.92701:05:34.559 --> 01:05:38.519It went to seventy one time.Don't think it's going to do it again.92801:05:38.639 --> 01:05:42.480Same thing with game Staff. Yeah, those anomalies are outly different.92901:05:42.599 --> 01:05:45.079But quality companies and we say itall the time, or quality companies you93001:05:45.159 --> 01:05:48.599believe in the company, that's whenyou look for the opportunity to buy good93101:05:48.679 --> 01:05:54.280point. I think it's also agood idea to buy buy companies. Shirt93201:05:54.519 --> 01:06:00.119buy companies whose business is improving,not companies whose business is deteriorating. No93301:06:00.280 --> 01:06:02.320existent, right, but if theyget that, and especially if they these93401:06:02.400 --> 01:06:08.360quality companies like the Boweling, theTargets, the Raytheons and uh Disneys that93501:06:08.480 --> 01:06:13.079are quality, but they get knockeddown for an outside reason. You know,93601:06:13.119 --> 01:06:15.639they were losers. You know,one was political, one was uh93701:06:15.840 --> 01:06:20.400uh Athon had a problem with oneof their uh what was it their the93801:06:20.440 --> 01:06:27.280engine engines. Yeah, billion dollarsblowing is having problems with some of their93901:06:27.320 --> 01:06:30.320planes. Uh. Tesla not surewhat's going on. Well, Tesla's just94001:06:30.400 --> 01:06:34.400their businesses, that's what's slowing.And it's a very expensive dock. It's94101:06:34.519 --> 01:06:39.320priced for perfection, and what youhave right now is not perfection. That's94201:06:39.320 --> 01:06:43.320why it is probably proved to becautious about in video because the video is94301:06:43.360 --> 01:06:45.800run up like Tesla did a coupleof years ago, and you didn't think94401:06:45.840 --> 01:06:48.800it was ever going to come backdown. But obviously TESTA except though except94501:06:48.920 --> 01:06:53.039with the VIDIA and I and Iand I. We had this conversation the94601:06:53.079 --> 01:06:58.360other day with the VIDIA their chipis so far advanced, everyone's trying to94701:06:58.440 --> 01:07:00.960catch up. I don't believe thevideo is sitting there saying, oh,94801:07:01.079 --> 01:07:04.519what's when I don't. We don'thave to worry about what's in the future.94901:07:04.920 --> 01:07:09.320I believe they're always going to bein the future, which means whatever95001:07:09.480 --> 01:07:13.480people get out together, that wouldbe yesterday's chip, and they have the95101:07:13.880 --> 01:07:15.400tomorrow's chip. Well that's what they'veshown so far, that one that was95201:07:15.440 --> 01:07:19.079ten thousand dollars, a chip thatwas already above and beyond what everybody else95301:07:19.079 --> 01:07:21.519says. They were trying to catchup the end video's previous chip, right,95401:07:21.599 --> 01:07:24.880not even the one that was sayingkay that was sold out. So95501:07:25.400 --> 01:07:28.800yes, I'm just saying valuation sixfifty seven hundred. If you don't take95601:07:28.840 --> 01:07:30.000some of the money off the tableand it goes down, it's on you.95701:07:30.559 --> 01:07:33.039Which I keep telling me that,I keep telling myself that, I95801:07:33.159 --> 01:07:35.800keep telling me something that I wantto bang my head against the wall and95901:07:35.840 --> 01:07:39.440that will make sure. But rightnow, it's been a fun ride.96001:07:39.559 --> 01:07:42.360I think the other one like thatis Costco. It's just been just going96101:07:42.440 --> 01:07:45.840and going and going. It's aparty. Seven hundred dollars this year Costco.96201:07:45.280 --> 01:07:49.519It was hanging around three eighty formonths, not that long ago.96301:07:50.199 --> 01:07:54.360I do want to bring up somethingthough, if you're sophisticated enough and understand,96401:07:54.960 --> 01:07:57.920like with the video, because Idon't pay all those taxes until at96501:07:57.960 --> 01:08:00.360least gets long term gains and stuff. Sure, some of them they have96601:08:00.519 --> 01:08:05.079the inverse that you can buy asa hedge like mvds, and I've been96701:08:05.119 --> 01:08:10.880doing that on short term basises.It's like insurance. The video goes up96801:08:10.920 --> 01:08:14.960twenty okay, so you make twentypoints. The other one might go down96901:08:15.000 --> 01:08:18.960a point. So you're always goingto be ahead of the game as long97001:08:18.960 --> 01:08:21.840as but you have to know thecorrelation with it. But it's a way97101:08:21.920 --> 01:08:26.319that you don't have to go aheadand pay taxes by taking money off the97201:08:26.359 --> 01:08:30.159table, but protect yourself. It'san ETF that goes up when in video97301:08:30.239 --> 01:08:32.680goes down. Yes, and it'sa nice, a nice idea. She97401:08:32.800 --> 01:08:36.760gave the Sebastian a shout out forhis d WAT call. I'll give Dean97501:08:36.840 --> 01:08:42.079Greenberg a shout out. We hadan investment committee meeting on Wednesday, and97601:08:42.399 --> 01:08:45.840Dino says, you know, I'mreally starting to like IBM. What happened97701:08:45.880 --> 01:08:50.000the next day. D I knowit didn't go down, Dave it.97801:08:50.560 --> 01:08:56.479It popped at the highest level ineleven years on better than expected quarter.97901:08:56.520 --> 01:08:59.640And I wondered if I told peopleabout it, they don't want to play98001:08:59.640 --> 01:09:01.760IBA. It's so funny, youknow. So that's why I'm glad we98101:09:01.880 --> 01:09:05.000managed the money. Yeah, he'sjust sleeping. It's a sleeping giant waking98201:09:05.119 --> 01:09:09.039up. But we didn't buy thatmuch. We didn't buy that much for98301:09:09.640 --> 01:09:12.560clients. It's been there, butit's one that we got to put on98401:09:12.600 --> 01:09:15.319the radar now because it broke outand definitely look because that before we know98501:09:15.399 --> 01:09:18.439it, it could be two hundredand fifty bucks. Maybe I'll never forget.98601:09:18.479 --> 01:09:23.159I had this client in sitting inmy office. This is nineteen eighty98701:09:23.279 --> 01:09:27.479three, and Apple had just recentlycome out and their symbol, of course98801:09:27.600 --> 01:09:30.680is the apple with a bite outof it. And this client sitting there98901:09:30.680 --> 01:09:33.199and he goes, what's gonna happen? Is IBM's gonna eat that whole damn99001:09:33.239 --> 01:09:39.199Apple. That's how big IBM theyalmost did. That's how big IBM w99101:09:40.199 --> 01:09:43.399Apple almost folded. Brought back toSteve Jobs Yep, yep, and the99201:09:43.479 --> 01:09:46.319restless history the restless history and TimCook has been just amazing. I saw99301:09:46.399 --> 01:09:51.479this thing. That's in twenty elevenwhen Microsoft came out with their Windows seven99401:09:51.560 --> 01:09:56.359phone, they held a funeral withsome of the employees. Held the funeral99501:09:56.399 --> 01:09:59.760in the streets with a big iPhone, blown up iPhone saying the iPhone is99601:09:59.760 --> 01:10:02.479going to die because we came outwith this same way as talking about IBM's99701:10:02.479 --> 01:10:08.199gonna eat it, and then Applejust keys building and building and building boy.99801:10:08.359 --> 01:10:11.720Three M continues to disappoint. Oneof the most disappointing dive stocks over99901:10:11.760 --> 01:10:15.920the last few years, continue todisappoint, with the most recently quarter report100001:10:15.000 --> 01:10:18.600sending the stock down twelve percent atthe open on two. They don't understand100101:10:18.640 --> 01:10:21.000why three M can't get out oftheir own way. Same price. It's100201:10:21.039 --> 01:10:25.439kind of like Intel, and it'slike Cisco. You know, it's like100301:10:26.279 --> 01:10:29.159Intel is going and then all ofa sudden, boom, they can't.100401:10:29.199 --> 01:10:31.319And now the backwards three M isthe same price it was in two thousand100501:10:31.319 --> 01:10:35.399and seven. Yeah, wow,how that workout? You know, talk100601:10:35.439 --> 01:10:40.960about why you can't just sit andhold I don't care what they tell you,100701:10:41.920 --> 01:10:45.960right, you see where Hurt's gota downgrade by JP Morgan this past100801:10:46.000 --> 01:10:50.079week downgrade did the stock and there'sbeen a couple of upgrades to and downgrades100901:10:51.039 --> 01:10:59.800because of their their electric vehicle strategy. This particular downgrade by JP Morgan was101001:11:00.119 --> 01:11:05.520because they believe that the failed electricvehicle strategy, calling it a failed electric101101:11:05.600 --> 01:11:10.840vehicle strategy. I'm not just maybea little strong, but it's going to101201:11:10.880 --> 01:11:14.439cost them billions of dollars. Idon't know, not everybody. You know,101301:11:14.600 --> 01:11:16.520it's hard to have a rental carwith electric because if you don't,101401:11:16.520 --> 01:11:19.960nobody wants to rent them. Wellyou don't know about electric. And these101501:11:20.000 --> 01:11:24.600clients of mine that they that's theonly car they could take, and they101601:11:24.640 --> 01:11:27.039spent an hour in the parking lite. Nobody hurts knew how to turn it101701:11:27.119 --> 01:11:31.199on. Well, you know,you get stuck someplace, who's gonna come101801:11:31.359 --> 01:11:34.520to help you? Yeah? Yeah, well I guess Hurts is going to.101901:11:34.640 --> 01:11:38.399But it's if there is a learningcurve there, and that you don't102001:11:38.399 --> 01:11:41.520want a learning curve when you're rentinga car. You want to be able102101:11:41.560 --> 01:11:43.760to get in and say I knowthis car, I know how to do102201:11:43.880 --> 01:11:45.720this. I put the shifter andgear and go all right, I know102301:11:45.720 --> 01:11:50.439where to put the gas in andyou want to hear it. I'm not102401:11:50.520 --> 01:11:53.960sure. I'm not sure i'd gothere. You know I'm going there.102501:11:54.000 --> 01:11:56.439I want to hear that car.I want to know what's where we're going102601:11:56.520 --> 01:11:59.640to. It's an awful it's awfulnice out on the highway. I had102701:11:59.640 --> 01:12:01.239it on. I was awfully nice, very quiet, like being in a102801:12:01.640 --> 01:12:04.640like being in a glider. Allright, listen to everybody. We appreciate102901:12:04.680 --> 01:12:08.520you listening. We got a couplemore segments to go. I hope you103001:12:08.720 --> 01:12:11.520like it what we say. Giveus a call anytime, come see us.103101:12:11.600 --> 01:12:13.960Get that financial plan done. That'sthe only way you're going to get103201:12:14.000 --> 01:12:17.880through the next few years. We'llbe right back. Say it's only a103301:12:18.159 --> 01:12:27.279name. Welcome back, everybody mountingby the show. We got Dylan and103401:12:27.359 --> 01:12:31.479we got Sea Bastion. I'm doingall right. I'm doing and so much103501:12:31.520 --> 01:12:35.039better. Yeah, definitely, I'mnot sweating through my shirt like I used.103601:12:35.079 --> 01:12:38.600Oh my god, that was horrible, and we had they show it.103701:12:38.920 --> 01:12:42.119The Sea bass is cute though.The people, especially women, like103801:12:42.239 --> 01:12:45.520that nickname for Sebastian. Ever sinceI was a little kid in Little league103901:12:45.520 --> 01:12:48.079baseball, that's what I've heard SeaBass, Sea Bess. That's just what104001:12:48.159 --> 01:12:51.439they call you because that one.What's the short for Sebastian? What would104101:12:51.439 --> 01:13:00.000be some other options? Bass hearda couple as yet accent radio Sorry,104201:13:03.279 --> 01:13:08.359Sea Bass is a cute nickname.So earlier this last week we were talking104301:13:08.439 --> 01:13:11.319to Zach Nevloff comes on this radioshow every once in a while. He's104401:13:11.720 --> 01:13:15.439first solar. He sales solar,and we were talking about different solar things,104501:13:15.439 --> 01:13:18.760and we're kind of figuring out yten tan is the ETF for solar104601:13:19.439 --> 01:13:24.199and it's down forty six percent everyholding in there because that Solar Edges just104701:13:24.239 --> 01:13:27.880got clobbered last year. Other companiesin there are just down forty percent.104801:13:28.000 --> 01:13:30.279Yeah, and Phase Energy down fortynine percent, and you got Solar Edge104901:13:30.680 --> 01:13:33.039that was down seventy seven percent.And then as a whole, the ETF105001:13:33.159 --> 01:13:38.399is down forty six But then outof nowhere you have FSLR is up forty105101:13:38.399 --> 01:13:41.000six percent, right, Yeah,I have it. I have the numbers105201:13:41.000 --> 01:13:44.560from a year, so there's downthirteen percent, but yeah, it's outperforming105301:13:44.640 --> 01:13:47.319everything else. But FSLR was downthirteen percent for the year. Yes,105401:13:47.640 --> 01:13:54.880while the the ETF was down forthe year and of course that's because of105501:13:55.000 --> 01:13:59.079higher interest rates, making that thewhole solar thing that worked worked out.105601:13:59.279 --> 01:14:02.119But also we were to figure outwhy was First Solar or FSLR doing so105701:14:02.199 --> 01:14:05.840much better, And it turns outit's the only solar company that makes the105801:14:06.000 --> 01:14:10.319panels in the inverters. How isthat? How weird is that? Yeah,105901:14:10.359 --> 01:14:14.079it's the only company that's vertically integratedout there. So what does that106001:14:14.199 --> 01:14:17.640mean? It controls all aspects ofits production process, from mining raw materials106101:14:17.680 --> 01:14:21.479to manufacturing the panels to installing themon the rooftops, on either rooftops or106201:14:21.520 --> 01:14:27.239solar firms. It gives for Solarmore control over its costs, its margins,106301:14:28.000 --> 01:14:30.239just helps out performance competitors. Nowmy thing is, I want to106401:14:30.279 --> 01:14:35.159know how many Congress people own FSLR, because you can receive more tax credit106501:14:35.199 --> 01:14:40.840if you use American made panels andinverters and you and from twenty twenty two106601:14:40.880 --> 01:14:45.359to twenty thirty two, you getthirty percent on Inflation Reduction Act part of106701:14:45.439 --> 01:14:48.439that Solar Tax Credit step down schedule. It starts with thirty percent, then106801:14:48.520 --> 01:14:53.039after twenty three or sorry, twentythirty three goes to twenty six percent.106901:14:53.439 --> 01:14:56.439Then twenty two percent twenty thirty four, and then it goes to zero percent107001:14:56.479 --> 01:15:00.640in twenty thirty five. But ifyou're buying American made panels, I mean,107101:15:00.680 --> 01:15:02.359that's maybe why First Solar is doingso well. And they kind of107201:15:02.359 --> 01:15:06.520made me start thinking how many congresspeople own for Solar on top of its107301:15:06.640 --> 01:15:12.039vertical integration for solars leading manufacturer ofthin film solar panels, which are more107401:15:12.039 --> 01:15:19.039efficient than traditional crystaline silicon panels thatyou drive from here to either Los Angeles107501:15:19.159 --> 01:15:24.000or San Diego. But the solarfarms out there, there's some gigantic solar107601:15:24.119 --> 01:15:27.760farms out there. They're pretty coolto look at. Last time I was107701:15:27.800 --> 01:15:30.159in Sedona, I feel like everyhouse that I saw had solar panels on.107801:15:30.239 --> 01:15:33.960That was really impressed. Sedona wentup for the first I could see107901:15:33.960 --> 01:15:39.439that. I see new houses alltrying to get solar. I mean,108001:15:39.479 --> 01:15:42.239because if you start from the beginningand you put it in and you get108101:15:42.239 --> 01:15:45.279everything you need, it's gonna youknow, your electricity build that keeps going108201:15:45.359 --> 01:15:48.079high and higher is going to becut down. So it's part of the108301:15:48.159 --> 01:15:50.880build. If you put it inpart of the build, it's just hard108401:15:50.920 --> 01:15:54.319when you're converting because you've got toput the years in, how old you108501:15:54.399 --> 01:15:57.439are you buy the elease it,you know what I mean. But I108601:15:57.520 --> 01:16:00.680mean it does help. I mean, but like every thing though, it's108701:16:00.760 --> 01:16:04.000like everything can't just be one thing. And that's what I have a problem108801:16:04.079 --> 01:16:09.600with with our government pushing us allto ev vehicles and and doing the and108901:16:09.720 --> 01:16:14.720and and doing these panels and andthe solar and and win. Let's have109001:16:15.560 --> 01:16:20.600just like a portfolio is diversified,let's diversify our energy, right. And109101:16:20.920 --> 01:16:25.279I don't I forgot what car itwas, uh Highbred that's come out.109201:16:25.319 --> 01:16:30.640It was I think it was theLexus, the Lexus Hybred and you and109301:16:30.720 --> 01:16:34.119then basically was talking about around townyou use the electric, right when you109401:16:34.239 --> 01:16:41.279go other places you use the gas. And what a small idea wouldn't that109501:16:41.399 --> 01:16:44.720I would buy that? I wouldbuy a Highbred that if I was going109601:16:44.760 --> 01:16:46.680to San Diego, I would turnon the gas and boom, pay for109701:16:46.720 --> 01:16:49.760the gas and go. But ifI'm going around town, I would just109801:16:49.840 --> 01:16:54.319use the Hybred. Nice happy medium, if you will. But of course109901:16:54.359 --> 01:16:57.039if I forgot to go and getit turned and something happens to the electric,110001:16:57.079 --> 01:16:59.640I just going it over to theother side a peace of mind.110101:16:59.680 --> 01:17:02.279I don't get how we jump fromone to the other. Yeah, that's110201:17:02.319 --> 01:17:06.520why hybrids outsell electric one point fiveto one. You know, there's more110301:17:06.600 --> 01:17:10.880hybrid. We should have made thembetter from the beginning, made what better110401:17:10.920 --> 01:17:15.760than hybrids and kept increasing them insteadof all this rhetoric talk. I mean,110501:17:15.319 --> 01:17:19.319basically, Washington's making us go brokewith all the things they want us110601:17:19.359 --> 01:17:23.279to do and how to do itwith the regulations. And that's what's going110701:17:23.359 --> 01:17:26.359to change on top of it,you know, all this new technology.110801:17:26.359 --> 01:17:29.239I feel like we're still pretty earlyin ev space and solar space. So110901:17:29.399 --> 01:17:32.479what happens when this technology becomes obsolete. There's a reason that you lease your111001:17:32.520 --> 01:17:35.840Tesla rather than buy it. Oh, absolutely right. Yeah, I don't111101:17:35.840 --> 01:17:39.920know where this thing is going.I didn't even know if I like it,111201:17:40.520 --> 01:17:44.239and where the price is coming downlike they have. I'm so thankful111301:17:44.319 --> 01:17:47.239that I did leave, because Iwouldn't be able to get fifty cents on111401:17:47.359 --> 01:17:53.600the dollar if i'd have bought it. Because the new version of the Model111501:17:53.720 --> 01:17:58.439hy the test was Model hy andit's it's about fifteen percent cheaper now than111601:17:58.479 --> 01:18:00.600when I bought it. And Ijust bought it eight to go. See111701:18:00.640 --> 01:18:03.239what happens. Guys, you littlesold the Hegos Tesla. Well, back111801:18:03.279 --> 01:18:06.920to the ev stuff. I guess. Well, it's where the world's going111901:18:06.960 --> 01:18:10.920to. You know, it's notmy world, Solar, not my world.112001:18:11.039 --> 01:18:13.760You'll be driving an electric car beforeyou die, I promise, No112101:18:14.560 --> 01:18:16.479around town. Yeah, I'll getup. I'm with you one hundred percent.112201:18:17.439 --> 01:18:19.800I don't have the energy to takeit on the road yet. You112301:18:19.880 --> 01:18:24.159know, it's interesting. No,let's go back to the markets again.112401:18:24.760 --> 01:18:28.039The S and P is up twoand a half percent and all, and112501:18:28.199 --> 01:18:31.159the equal weight is down. Yeah. Not something I would have thought it112601:18:31.279 --> 01:18:35.079was. Start switching already, butit's it's not which is which is trying112701:18:35.119 --> 01:18:40.520to tell you a being both?And we talked about that where we thought112801:18:40.560 --> 01:18:43.840this year would be a little bitless growth oriented, a little more value112901:18:43.920 --> 01:18:47.399oriented. Thus far that has nothappened. This is absolutely a carbon copy113001:18:47.479 --> 01:18:53.119of December Dean. Yeah, wherethe Magnificent seven or the I guess the113101:18:53.279 --> 01:18:56.359super six I have. I needto get rid of that Magnificence seven because113201:18:56.359 --> 01:19:00.600it doesn't exist anymore. Whatever.It's just like it's just like the indexes.113301:19:01.039 --> 01:19:03.359Oh, this suck's not performing.Let's take it out. Put something113401:19:03.399 --> 01:19:05.760in that's performing. Oh, bythe way, that's going to be the113501:19:05.800 --> 01:19:09.079worst performer for next year, andthe one you took out it's going to113601:19:09.079 --> 01:19:13.119be great. But you know it'severyone wants to do. Where's the marketing113701:19:13.199 --> 01:19:15.600on. I can't tell you wherethe market's going. I can tell you113801:19:16.319 --> 01:19:20.680that the risk is greater. Ican tell you you have to stay invested.113901:19:21.039 --> 01:19:24.800I can tell you you have tohave some of these tech stocks in,114001:19:24.880 --> 01:19:29.960whether it's an EFD or two orthree percent positions in them. What114101:19:30.119 --> 01:19:32.600I can tell you is if youhave too much of your portfolio in just114201:19:32.680 --> 01:19:39.600the Magnificent Sex or whatever, there'sthe six packed lunch super six. Okay,114301:19:41.960 --> 01:19:45.199you're gonna get hurt one day,all right. At the end of114401:19:45.279 --> 01:19:49.800the day, it's all about allocationsand understanding it and where you are.114501:19:50.279 --> 01:19:55.399And I feel, Dave, I'mback in the nineties, late nineties when114601:19:55.520 --> 01:19:59.319everybody thought the average return should betwenty five to thirty percent in their mutual114701:19:59.399 --> 01:20:02.560funds. Allth dot coms. You'regoing to make me thirty percent. That's114801:20:02.680 --> 01:20:06.760horrible, you know, Well,the stuff that you had made fifty percent114901:20:08.000 --> 01:20:11.239that was invested in there your otherside, the bonds didn't make that.115001:20:11.439 --> 01:20:13.760So that's why you're not at thirtyperent. Oh, I don't want those.115101:20:13.840 --> 01:20:15.399I just want and that's where itis. And then they all got115201:20:15.479 --> 01:20:23.039hurt and some day, somehow everygeneration gets hurt. Be careful, but115301:20:23.279 --> 01:20:27.560don't be out. That's the difference. Yeah, the concern about risk right115401:20:27.600 --> 01:20:30.239now is just gone and there isthere is no concern about risk. Get115501:20:30.279 --> 01:20:35.720worried about fomo, right they wantto fear of missing out, the more115601:20:35.800 --> 01:20:39.680fear of missing out. Uh,and let's get on, let's go,115701:20:39.800 --> 01:20:44.359go go. I will say,fortunately, the vast majority of our clients,115801:20:44.439 --> 01:20:46.920probably up in the ninety eight percentrange, are not those people.115901:20:47.640 --> 01:20:50.079No, they don't want to Theywant to be in a position that the116001:20:50.399 --> 01:20:55.800portfolios will work. But they knowthey're allocated. So if it turns against116101:20:55.840 --> 01:20:59.319them, they still have bought somebonds now that we we have maturity dates,116201:21:00.119 --> 01:21:02.920some conservative stocks paying dividends. Uh. They know we com mitigate risk116301:21:03.000 --> 01:21:05.720and head themselves, so they're happy. Well, a lot of the clients116401:21:05.800 --> 01:21:10.119we get are ones that come tous for the financial planning aspect, the116501:21:10.159 --> 01:21:15.920first part where we yeah, wecan do it too, all of it.116601:21:15.079 --> 01:21:18.479That's the darndest commerceive for seeing thatanywhere. Yeah, most of our116701:21:18.560 --> 01:21:21.800clients come from their money managers.When the heck else are they going to116801:21:21.880 --> 01:21:27.039come from? You know, they'redoing it themselves. They're usually not coming116901:21:27.039 --> 01:21:29.800to your Fisher. You know.What I'm getting at is that they come117001:21:29.880 --> 01:21:32.279to us for the whole retirement planningthing because they're mostly likely trying to figure117101:21:32.279 --> 01:21:34.199out how to get income from theirplans, so they're going to be on117201:21:34.239 --> 01:21:40.399the more conservative side. They're notgoing to be all aggressive everything when they're117301:21:40.399 --> 01:21:43.119retired. That's obviously a lot ofour clients. Oh it's funny you say117401:21:43.159 --> 01:21:45.800that, Dave, you know,and and people that are looking for advisors117501:21:45.960 --> 01:21:50.399and and talking to people, especiallywhen you're hearing them like Fisher that advertisers117601:21:50.479 --> 01:21:55.279and and uh some of these othercompanies that all you hear them on the117701:21:55.359 --> 01:21:58.840radio and stuff and do things.The one thing I got to say about117801:21:58.920 --> 01:22:02.319us is people, you know,come up and talk why don't you have117901:22:02.399 --> 01:22:06.199billions of dollars onder management? Youknow. I was at the conference the118001:22:06.279 --> 01:22:11.000other day and I was and Iwas I was speaking, okay, talking118101:22:11.000 --> 01:22:13.760about the markets and talking about things. It's like I speak on the radio118201:22:14.119 --> 01:22:16.119and they came up, why don'tyou have billions of dollars? We have118301:22:16.239 --> 01:22:20.039three billion. We have four anda half billion. Because I want to118401:22:20.079 --> 01:22:25.000be involved. I don't want tojust be people coming in. I live118501:22:25.079 --> 01:22:28.279in Tucson. I want a qualityof life. I want people to come118601:22:28.359 --> 01:22:30.960here and build relationships. It's notjust building the company. And when people118701:22:31.000 --> 01:22:34.319don't realize you're own one hundred percentof the company, and say you've got118801:22:34.359 --> 01:22:39.520three hundred and some odd million dollars, right, that's one hundred percent yours.118901:22:40.119 --> 01:22:43.319If you have a billion and you'reonly making thirty percent off that,119001:22:43.560 --> 01:22:45.359it's the same three hundred million.But you have to deal with so many119101:22:45.439 --> 01:22:51.319people and you're not actually doing whatyou do best, which is actually giving119201:22:51.399 --> 01:22:57.920your forty years of experience to investing. So then they become cookie cutters and119301:22:58.000 --> 01:23:00.680they go, oh, we're inmodels. We're in this design the models.119401:23:00.720 --> 01:23:02.119No, do you know how theywork? No? We design on119501:23:02.239 --> 01:23:05.840models. We've done on models.We know what we got to take in,119601:23:06.000 --> 01:23:09.960we know what we have to takeout, the flexibility, the mitigating119701:23:10.000 --> 01:23:14.520a risk. We actually manage money. Our foundation is money management. The119801:23:14.640 --> 01:23:18.279financial planning is the whipped cream andcherry on top, because it allows us119901:23:18.319 --> 01:23:23.359to really know what you want todo from the portfolio and be able to120001:23:23.399 --> 01:23:27.079look on how long it takes.But when it comes into managing the money,120101:23:27.199 --> 01:23:29.920we've done it. I know howwe've done it for a long time120201:23:30.439 --> 01:23:33.359and the allocations and it fits forpeople. But my goal wasn't to get120301:23:33.399 --> 01:23:38.079to billions of dollars unless we growit organically. Sure, and that's what120401:23:38.520 --> 01:23:43.119having one team, one group tobuild it from there, not having ten120501:23:43.199 --> 01:23:46.319other reps here that all have youknow, thirty million dollars, fifty million120601:23:46.359 --> 01:23:48.880dollars and everyone's get part of it, and then you have to worry about120701:23:48.880 --> 01:23:51.600everything that's going on. I tellme the end of day, he's he's120801:23:51.600 --> 01:23:56.279working with thirty different people and hecan't remember who's who. I said,120901:23:56.279 --> 01:23:58.479we have a thousand, and Ican tell you every one of them,121001:23:58.760 --> 01:24:00.239what their kids, names are are, what they look like. You know,121101:24:00.600 --> 01:24:03.600that's being That's exactly what you're talkingabout. That's how we want to121201:24:03.640 --> 01:24:08.560build a business. These are theseare our friends. There are people we're121301:24:08.600 --> 01:24:12.960working with or helping, they're helpingus. It's it's a it's a it's121401:24:12.960 --> 01:24:15.920a kind of a family situation.And even here in the office amongst us121501:24:15.960 --> 01:24:18.079employees, it's like a family,like a big family. Today. I121601:24:18.159 --> 01:24:21.039tell you we have a billion dollars. It's because we grew organically as much121701:24:21.079 --> 01:24:26.800as we could. Yeah, andeveryone's learning and doing the same things and121801:24:26.880 --> 01:24:30.279being taken care of. But integrityis so important. Customer service is so121901:24:30.399 --> 01:24:35.600important. Knowledge experience is so important. But the thing I've learned, we122001:24:35.800 --> 01:24:40.600make sure our clients understand what we'redoing before we even invest for them.122101:24:41.039 --> 01:24:45.000Until they say they have questions,we answer, we'll be back money out122201:24:45.000 --> 01:24:51.640of show. Appreciate you listening.Thank you say it's only welcome back everybody.122301:24:51.680 --> 01:24:55.319We got one more segment. Ihope you enjoyed it all. Have122401:24:55.399 --> 01:24:58.560you done all the questions yet?Yeah? We did, Yeah we did.122501:24:58.640 --> 01:25:01.479Did they've answering? I did right? Good? I did. It122601:25:01.600 --> 01:25:04.840was a it was a sure questionsin there, But I did the best122701:25:04.880 --> 01:25:08.920I could. I like when peoplecalling with questions, Yeah, well they122801:25:09.000 --> 01:25:12.239email us and stuff like that.Nice to see the questions before the show,122901:25:12.520 --> 01:25:15.760right, No, you gotta gettoes. I tried, I tried.123001:25:15.479 --> 01:25:18.319I try to tell Dylan todd thembeforehand one time and they got mad123101:25:18.359 --> 01:25:21.720at me, so, okay,we will do it. One of the123201:25:21.880 --> 01:25:28.159things that I missed most is whenwe did everything live and we had call123301:25:28.279 --> 01:25:31.880ins. I loved having to callin spot. Oh so what if I123401:25:31.920 --> 01:25:34.279didn't know the answer? I said, I didn't know the answer, but123501:25:34.399 --> 01:25:36.560they tried, you know, theyyou know, we did. We did123601:25:36.600 --> 01:25:40.680a lot of stuff. We did. Uh. They were just calling like123701:25:40.800 --> 01:25:44.880a U with a stock and thenhis opinion. So most of them I123801:25:44.960 --> 01:25:47.000knew. One of them I didn'tknow. But they would answer other questions123901:25:47.039 --> 01:25:50.079and do things, and we'll getinto conversations like when I fill in for124001:25:50.199 --> 01:25:54.520Garrett in the morning, which obviouslywe're not doing that anymore because he's in124101:25:54.560 --> 01:26:00.159the afternoon. I loved getting questions, whether they agreed with me but not124201:26:00.239 --> 01:26:03.000agreed with me. It was fun. That's what makes radio good in my124301:26:03.119 --> 01:26:06.479opinion. So I do miss that. But the questions that come into us124401:26:06.520 --> 01:26:11.800are great. Order. If Garrettlikes sleeping in, I don't know.124501:26:12.000 --> 01:26:14.920Can you imagine that he had tobe on the air, miss him in124601:26:15.000 --> 01:26:16.600the morning, but on oh yeah, on the air at six, right,124701:26:16.960 --> 01:26:19.439he was on the air at sixbut he did a lot of work124801:26:19.479 --> 01:26:23.039beforehand and stuff. But I mean, you still, every time he did124901:26:23.079 --> 01:26:24.640the show, I had to getup at like, you know, four125001:26:24.800 --> 01:26:28.359thirty, and I'm thinking, andnow he can get up at ten once125101:26:28.560 --> 01:26:31.039right then the f new Yeah,I think he probably does all his prep125201:26:31.079 --> 01:26:34.399work in the morning rather than theprevious afternoon. Who knows. Speaking of125301:26:34.680 --> 01:26:39.560we've only one month left and thenback on daily saving time. I'm excited125401:26:39.640 --> 01:26:41.920for it. It's going to staythat way now, right. No,125501:26:42.520 --> 01:26:45.039Well, I thought they got monthjust eight months. No, I thought125601:26:45.119 --> 01:26:47.199I thought that this was the lastyear of it. No, no,125701:26:47.359 --> 01:26:53.319no, no, no bought it. They're trying to expand it. They125801:26:53.399 --> 01:26:56.359expanded it from six to eight months. Right, But I thought that I125901:26:56.520 --> 01:26:59.680thought, maybe obviously I could bewrong. I've been wrong once or twice126001:27:00.000 --> 01:27:03.000that they they were trying to getto it where we had no more daylight126101:27:03.079 --> 01:27:05.560savings time and we were just goingto stay on Pacific. I think it's126201:27:05.600 --> 01:27:09.039one of the more popular things inthe country, so I don't think that's126301:27:09.079 --> 01:27:11.000going to happen. But I don'tknow. I've not heard a word about126401:27:11.000 --> 01:27:13.079it. The cool thing is wegot two young guys, right, on126501:27:13.119 --> 01:27:15.079the phone right now, and they'regoing to figure out what does what the126601:27:15.159 --> 01:27:18.720truth is. They're going to figureout whether those states adopted a legislative change126701:27:18.760 --> 01:27:23.239in twenty twenty three to get ridof it. Americans should expect clock changes126801:27:23.279 --> 01:27:27.359to continue through twenty twenty four.Yeah, which means what as this year?126901:27:27.800 --> 01:27:30.039We're keeping it? Well, weare on it right now. Yeah.127001:27:30.520 --> 01:27:33.079Anyway, it was for next year, is what I'm saying. And127101:27:33.840 --> 01:27:38.000people listening. I knew next year. People are listening, going, what127201:27:38.039 --> 01:27:40.720are you talking about? We don'thave DLA savy time and ariosota I know.127301:27:41.600 --> 01:27:45.079Well for us though, the marketsopened up seven thirty or six thirty.127401:27:45.239 --> 01:27:46.920Yeah, yeah, the day Isaving time does matter. If you127501:27:47.000 --> 01:27:50.920are in this business eight months outof the year, you you have to127601:27:50.960 --> 01:27:54.279be here ready to go at sixthirty. So summing it up, good127701:27:54.359 --> 01:27:59.880economic numbers, new highs this weekmarkets, uh, one of the five127801:28:00.039 --> 01:28:03.319avity basically, you know, likeI said back to the nineteen nineties,127901:28:03.439 --> 01:28:08.720I don't think these stocks are likethe dot com companies because there was really128001:28:08.760 --> 01:28:12.760some substance to these six stocks orso that are going higher. But I128101:28:12.800 --> 01:28:15.159think there's a few more. CrowdStrikehas done really well too, And there's128201:28:15.159 --> 01:28:19.520a bunch of others, and Netflixhas done really well Netflix. So I128301:28:19.600 --> 01:28:25.199mean, at the end of theday, if you're not in those stocks,128401:28:25.239 --> 01:28:28.119you're not making the returns that youkeep seeing on the S and P128501:28:28.279 --> 01:28:30.359and all this other stuff. Buton the same token, if you're not128601:28:30.479 --> 01:28:35.239reducing your some of your position orhedging some of that position by using the128701:28:35.319 --> 01:28:39.920inverses, if they turn and godown each one hundred points, you're gonna128801:28:39.960 --> 01:28:42.640lose a lot of money. Ithink the only thing this has in common128901:28:42.720 --> 01:28:47.159with nineteen ninety nine is just movingsharply higher driven by tech stocks. In129001:28:47.279 --> 01:28:51.479nineteen ninety nine, there had tohave been being at least two thirds of129101:28:51.560 --> 01:28:55.479the companies that just had no substancetoo at all. They weren't even real129201:28:55.920 --> 01:29:00.520it was just pieing the sky stuffIPOs coming out for companies they didn't have129301:29:00.560 --> 01:29:05.119any sales. It was ridiculous.That's similar to the twenty twenty spack crazy.129401:29:05.359 --> 01:29:09.520Yes, oh yes, yeah,I could see that. Well do129501:29:09.600 --> 01:29:13.520you think that this is that we'reseeing that with some AI stocks now?129601:29:13.520 --> 01:29:15.560I mean, I feel like ifany company just tells a word, all129701:29:15.600 --> 01:29:19.199AI stocks that really are and go, yeah they are. I'm not even129801:29:19.239 --> 01:29:21.920in that. I refuse to bein. Those are maybe in a a129901:29:23.319 --> 01:29:26.600in a in a et F thatmight have them, or small companies.130001:29:26.840 --> 01:29:29.560But are you in the AI rightnow? You got to be in the130101:29:29.640 --> 01:29:32.319Googles, Microsoft's, the Apples andthen the videos. For example, you130201:29:32.399 --> 01:29:35.239had the CEO of PayPal saying thathe was going to come out and shock130301:29:35.319 --> 01:29:39.279the world this last Thursday. Andwhat do you say that they're going to130401:29:39.279 --> 01:29:43.600implement a little bit of AI whenwithin PayPal and the stock didn't react to130501:29:43.680 --> 01:29:46.680it whatsoever? Right now? Isthere a substance there? There's one thing130601:29:46.760 --> 01:29:50.279I want to put word of cautionout there right now, and that's all130701:29:50.319 --> 01:29:55.399these commercials about gold. Okay,wait, do you want to hear the130801:29:55.479 --> 01:29:59.479question that we had? Yeah,I want to talk about gold in you130901:29:59.560 --> 01:30:03.960I rate? Okay. I wantto talk about how it sounds so good.131001:30:05.359 --> 01:30:09.479You know, well, coming tothe end, the dollar's not going131101:30:09.560 --> 01:30:13.439to be around. Buy gold.We can buy the physical asset in your131201:30:13.520 --> 01:30:17.439IRA. Okay. That's good becauseyou might be thinking that's a great place131301:30:17.520 --> 01:30:21.119to go. I want you tostop and think before you send any money131401:30:21.159 --> 01:30:26.760to these physical gold people. Doyou know them, what is it?131501:30:27.479 --> 01:30:32.800Where they're store in it? Andif hell, if everything went to hell131601:30:32.880 --> 01:30:35.840in a handbasket, couldn't remember thephrase it first? Yeah, okay,131701:30:36.720 --> 01:30:41.640hell in a hand basket? Right? Do you think those people that you131801:30:41.800 --> 01:30:45.399bought the gold from are going tosit around if there's actually physical gold and131901:30:45.479 --> 01:30:48.199they're not going to take it fromyou? Are you kidding me? You132001:30:48.279 --> 01:30:54.399know that IRA will be worthless.It'll be like the bitcoin situation, all132101:30:54.479 --> 01:30:58.760right, where you like that freedmanor whatever's name was. Okay, at132201:30:58.800 --> 01:31:01.720the end of the day, ifyou're buying it because everything's gonna go bad,132301:31:02.479 --> 01:31:05.279well when it goes bad, yourgold isn't gonna be there, and132401:31:05.319 --> 01:31:11.359it's gonna make things even worse.Period. I mean, think about why132501:31:11.399 --> 01:31:15.760you're buying it and what can happenif you have physical gold that you bought132601:31:15.840 --> 01:31:19.039outside of your IRA and it's inyour safe, Okay, you have it,132701:31:19.800 --> 01:31:25.079But if it's in somebody else's safeand you only have paper, what132801:31:25.239 --> 01:31:30.159has that got for you? Nothing? So think about that before you start132901:31:30.279 --> 01:31:34.920sending and opening up iras with thesepeople that you hear on the air selling133001:31:34.960 --> 01:31:41.800commercials. And remember every single timethey've done this at sometime it tops out,133101:31:41.840 --> 01:31:44.319it doesn't go anywhere, and theywait for it to come down,133201:31:44.840 --> 01:31:46.960and then get through that cycle,and then goal starts up again and they133301:31:47.039 --> 01:31:53.720hit the next bunch of people.But it sounds great, buy hard assets,133401:31:54.720 --> 01:31:59.239but it's not whose common sense tellsyou the reason you're buying it.133501:32:00.279 --> 01:32:03.039It's for everything going bad. Well, if everything goes bad, you think133601:32:03.079 --> 01:32:06.640they care about you, they're gonnasteal it and run. At a client133701:32:06.720 --> 01:32:11.239call last week and he was interestedin whether or not we had a particular133801:32:11.399 --> 01:32:13.720type of investment. I said,no, don't. We don't offer that.133901:32:14.279 --> 01:32:18.359He said, well, I'm intouch with this company that provides iras134001:32:18.439 --> 01:32:24.359that invest in this real estate inNorth Carolina, and this real estate guarantees134101:32:24.479 --> 01:32:30.319me ten percent per quarter, tenpercent per quarter, forty six percent annualized,134201:32:30.359 --> 01:32:32.159ready to return. I said,you understand, that's just not ever134301:32:32.239 --> 01:32:35.079gonna happen, right, Oh no, no, no, it's going to134401:32:35.119 --> 01:32:39.800happen. I'm they're standing behind it. It's gonna happen. Good looks.134501:32:39.880 --> 01:32:44.000I'm sure what they said. Andhe doesn't believe us. You get ten134601:32:44.079 --> 01:32:47.600percent paid quarterly, Yeah, thatwould make a precent, not ten percent134701:32:47.720 --> 01:32:50.920You're not gonna get ten percent aquarter. You're gonna get ten percent annually134801:32:51.000 --> 01:32:55.560paid quarterly, which means you gettwo and a half percent a quarter right134901:32:55.640 --> 01:32:57.560now. I did go back tohim and said, because I thought that135001:32:57.720 --> 01:33:00.439was a good insight on your partner. I went back to and I said,135101:33:00.439 --> 01:33:02.800Matt, are you sure that it'snot this? You know? No,135201:33:02.960 --> 01:33:05.760no, no, it's ten percenta quarter forty six percent annualized right135301:33:05.760 --> 01:33:10.600to return. Okay, And whydon't you sell your house, sell everything135401:33:10.680 --> 01:33:13.520you had? Wouldn't you just giveit to them? Throw it, wouldn't135501:33:13.560 --> 01:33:15.600you? Why wouldn't you get meup? Because the case it doesn't work135601:33:15.640 --> 01:33:19.600out? Well, no kidding.This is a young man of a forty135701:33:19.640 --> 01:33:23.479two year old guy with a quarterof a million bucks in a retirement account135801:33:23.680 --> 01:33:28.359and he's given them the whole thing. Wow, well now that's going to135901:33:28.439 --> 01:33:30.239work out, you know. Soit's just, uh, did you guys136001:33:30.239 --> 01:33:36.199see Archer Daniel Archer Daniels Midland thispast week with a major industrial company like136101:33:36.279 --> 01:33:41.720that, you don't expect the mouthfulit is. Maybe that's the problem.136201:33:42.239 --> 01:33:47.319You don't expect there to be disaster. Right This stock plunged twenty percent on136301:33:47.520 --> 01:33:51.399Monday to a fifty two week low. Get this on news. The chief136401:33:51.520 --> 01:34:00.000financial officer was placed on administrative leave. I missed an investigation into accounting prect136501:34:00.119 --> 01:34:04.720They also issued Q four guidance thatwas below expectations, which of course prompted136601:34:04.760 --> 01:34:10.520a bunch of brokers downgrades. Talkingabout Archer Daniel Midland and how a stock136701:34:10.600 --> 01:34:15.600of that size can get hit twentypercent in a day. That's unusual.136801:34:15.439 --> 01:34:19.840But if you have because if they'redoing something illegally, people want out and136901:34:20.279 --> 01:34:25.720don't will last questions, won't askquestions until after we get out. Yeah,137001:34:25.720 --> 01:34:29.000if you have an accounting practices thatare so egregious that you put the137101:34:29.399 --> 01:34:34.399CFO on the leave of absence,that's potentially problem pushed everything else in doubt.137201:34:35.039 --> 01:34:40.000Netflix jumped you were you were surprisingthat, Dean, You're you're saying137301:34:40.560 --> 01:34:43.039you don't see anything on Netflix thatyou know. My thing is, it's137401:34:43.039 --> 01:34:45.119a personal thing. They always say, buy stuff that you love. Yeah,137501:34:45.600 --> 01:34:50.119I love Netflix, except I hatethem. It's like it's like really137601:34:50.199 --> 01:34:57.079bad relationship I have with Netflix.I cannot ever find anything that I like137701:34:57.840 --> 01:35:02.800except maybe once every few weeks.Okay, I mean the dubbing stuff I137801:35:02.920 --> 01:35:06.680used to I can't. That drivesme crazy. Uh the what stuff?137901:35:08.079 --> 01:35:13.119When the door shows, Oh gotcha. You know it's like I try to138001:35:13.159 --> 01:35:15.840watch some shows just to relax anddo it, but if it doesn't get138101:35:15.840 --> 01:35:20.520my attention, I keep changing itand it's just crap. When somebody says138201:35:20.560 --> 01:35:24.520you need to watch this show andI look at where it is and it's138301:35:24.560 --> 01:35:28.960on Netflix, I'm always excited becausethey really are better than everybody else.138401:35:29.279 --> 01:35:32.520They really are, And they addedthirteen point one million new subscribers in the138501:35:32.600 --> 01:35:39.680last quarter. Stock jump ten percenton Wednesday. Pretty nice edition. Thirteen138601:35:39.720 --> 01:35:43.039millions the company. They're doing great, I mean what Also the big news138701:35:43.159 --> 01:35:45.159was that WWE they're gonna live stream, that they had a five billion dollar138801:35:45.239 --> 01:35:47.399deal, and that's why I meanthe stock went up eighteen percent last week.138901:35:47.399 --> 01:35:49.800It makes me wonder when they're goingto cut a deal with the NFL139001:35:49.840 --> 01:35:54.119and then they're going to have youknow, one of those youtub now so139101:35:54.640 --> 01:35:56.880yeah, but then they can startwith those behind the scenes, you know,139201:35:57.079 --> 01:36:00.159quarterback shows that they've had before.I get it. There's some it's139301:36:00.199 --> 01:36:02.000gonna take a lot of it's gonnatake some time because I think Amazon has139401:36:02.079 --> 01:36:04.760that they've been doing more of that. Yep, a lot of money to139501:36:04.800 --> 01:36:08.079get into the NFL right now,and they're going to keep paying it and139601:36:08.159 --> 01:36:12.520paying it and the streaming services.But I tell you it's you know when139701:36:12.560 --> 01:36:15.720it's the streaming ain't work and thegame ain't that great to cost you over139801:36:15.119 --> 01:36:19.800thousand dollars without Sunday ticket to watchNFL now through a season because of all139901:36:19.840 --> 01:36:25.119the streaming subscriptions. Wow, allright, listen, shows almost over.140001:36:25.279 --> 01:36:28.039I want to thank you for listening. Get in touch with us. We140101:36:28.239 --> 01:36:30.640will help you. We'll be backnext week with your money matters. We140201:36:30.720 --> 01:36:34.319all want to be happy, weall want to be healthy, and the140301:36:34.560 --> 01:36:39.039end of the day, all we'retrying to do is be profitable.