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

WEBVTT 1 00:00:05.639 --> 00:00:09.039 Good morning, everybody. Is that time Sunday morning, eight o'clock right here, 2 00:00:09.160 --> 00:00:12.919 seven ninety k AND's t is a Tean Greenberg and we will bring you 3 00:00:13.599 --> 00:00:18.760 the Money Matter Show. We'll have everybody here today except Todd. Todd had 4 00:00:18.800 --> 00:00:25.000 a god It was great grandmother's birthday in California, so good for him. 5 00:00:25.519 --> 00:00:28.199 Pretty cool when you have not only a grandmother but a great grandmother too. 6 00:00:28.800 --> 00:00:35.679 That's always a nice thing. That family, the uniting getting together always won. 7 00:00:36.960 --> 00:00:42.640 So where are we going? What are we doing? We have gone 8 00:00:42.679 --> 00:00:48.159 off every day and made a new high. Pretty cool in the s and 9 00:00:48.200 --> 00:00:51.840 P five hundred. Now we're not up huge for the year. We are 10 00:00:51.920 --> 00:00:55.000 up two and a half percent, but every day going up a little bit, 11 00:00:55.039 --> 00:00:58.719 a little bit, a little bit, a little bit. But you 12 00:00:58.799 --> 00:01:03.599 look out there and say, what's hiven this? Well, obviously we've got 13 00:01:03.640 --> 00:01:11.400 great economic numbers. The GDP was good, PCE number, inflation indicators were 14 00:01:11.400 --> 00:01:15.040 good. So how the heck does everyone think that the Fed is going to 15 00:01:15.079 --> 00:01:19.319 lower interest rates? Do they really think they're going to lower interest rates when 16 00:01:19.319 --> 00:01:23.680 things are actually working in our favor? The economy is working very good, 17 00:01:23.760 --> 00:01:30.599 and inflation's kind of creeping down. A little bit. Why would they lower 18 00:01:30.680 --> 00:01:36.439 rates and just put a spark into stimulating the economy. I don't see it. 19 00:01:37.040 --> 00:01:41.760 I don't see it. These pundits have been so wrong, These economists 20 00:01:41.799 --> 00:01:48.920 have been so wrong, These institutional guys have been so wrong. We have 21 00:01:49.000 --> 00:01:56.640 being cautious, not bullish. But we also know that's why you stay invested. 22 00:01:57.560 --> 00:02:01.599 That's how you invest in this. Make sure that if you're wrong with 23 00:02:01.760 --> 00:02:06.040 your ability to think the market is overdone and needs to pull back, and 24 00:02:06.040 --> 00:02:07.719 you scan it and all those other things, you still need to have the 25 00:02:07.759 --> 00:02:13.680 ability to make money. And then when the markets do pull back, and 26 00:02:13.680 --> 00:02:19.560 they always do pull back, you have that cash, You have your hedging, 27 00:02:19.800 --> 00:02:23.360 you have whatever you did to reduce the risk to be able to buy 28 00:02:23.400 --> 00:02:27.919 back in. And the further we go up, the higher the risk gets. 29 00:02:28.919 --> 00:02:30.520 I would say we're about an eight out of ten on the risk side 30 00:02:30.599 --> 00:02:38.080 right now. Anything can make the markets go down. We have good economic 31 00:02:38.199 --> 00:02:46.199 numbers, but something just doesn't seem right. And if you tell me just 32 00:02:46.240 --> 00:02:51.960 believe all those numbers, kind of hard to do that, especially in the 33 00:02:51.960 --> 00:02:54.159 wake of the things we heard this week, which I'll talk about later. 34 00:02:57.639 --> 00:03:00.240 Are these numbers being good? So they can go out and talk about how 35 00:03:00.280 --> 00:03:07.879 great Biden economics is and the markets are at all time highs. So he 36 00:03:07.960 --> 00:03:12.840 starts changing the tune of people still thinking that they don't have enough money to 37 00:03:12.919 --> 00:03:16.199 live in paycheck to paycheck. Well, the markets are up, the big 38 00:03:16.199 --> 00:03:22.000 and new hires. You shouldn't worry about money buying eggs and milk and paying 39 00:03:22.000 --> 00:03:25.879 rent. You should be doing great. You know, that's not how it 40 00:03:25.919 --> 00:03:30.719 happens. Out of tone, out of sight, And they keep coming on 41 00:03:30.840 --> 00:03:36.000 more and more and more. And if we keep listening to the media, 42 00:03:36.080 --> 00:03:39.599 if we keep listening to these pundits, not only will the drivers crazy, 43 00:03:39.759 --> 00:03:46.199 We're going to get false information, but I will give kudos to the Fed. 44 00:03:49.680 --> 00:03:53.360 I think Jerome Powell's done a pretty darn good job in the face of 45 00:03:53.439 --> 00:03:59.800 everything that he's had to deal with. He's bringing inflation down a little bit, 46 00:04:00.120 --> 00:04:04.639 not the biten economics. A Federal Reserve chairman and the people that are 47 00:04:04.680 --> 00:04:11.240 on the board, and he's allowing the run the markets, the markets to 48 00:04:11.319 --> 00:04:15.240 run a little bit and not saying, oh, that's inflationary, which a 49 00:04:15.240 --> 00:04:16.240 lot of them don't say that. A lot of them looking at tomorrow, 50 00:04:16.279 --> 00:04:18.879 that's inflationary. They're gonna have too much money, They're gonna be spending. 51 00:04:18.920 --> 00:04:21.680 It's gonna be the economy is going to be growing. It's good for the 52 00:04:21.720 --> 00:04:26.439 economy to grow. We've been saying that, let the economy grow. We're 53 00:04:26.439 --> 00:04:30.680 at low unemployment, but again, if you look at the low unemployment, 54 00:04:31.360 --> 00:04:33.839 it's because a lot of people are out of work because they don't want to 55 00:04:33.879 --> 00:04:39.480 work. They pull themselves out of the employment pool, so they're not even 56 00:04:39.519 --> 00:04:47.720 considered unemployed. So with that, we keep moving higher. Forty nine hundred's 57 00:04:47.800 --> 00:04:51.800 kind of like a resistance zone here. If we break through it, can 58 00:04:51.839 --> 00:04:55.879 we get to forty nine to fifty five thousand? We can? I think 59 00:04:55.920 --> 00:05:00.399 that will be very hard to break on this quickly, this fast as we 60 00:05:00.519 --> 00:05:04.439 moved up, unless something changes and something good comes. And if you if 61 00:05:04.439 --> 00:05:08.680 we're betting on lower interest rates and they do it, that could propel the 62 00:05:08.720 --> 00:05:11.160 market. I don't think they're going to lower them, and I think that 63 00:05:11.199 --> 00:05:14.040 will be a catalyst to move us down. Now I do I think we're 64 00:05:14.079 --> 00:05:17.639 gonna crash. No, We're in an election year. Economy is too good. 65 00:05:17.639 --> 00:05:20.839 It's just not going to turn over and roll over unless there's an event 66 00:05:20.920 --> 00:05:25.920 that we don't know about. And let's face it, there's a lot of 67 00:05:25.959 --> 00:05:29.959 wars going on different places. There's a lot of threats going on everywhere, 68 00:05:30.000 --> 00:05:35.279 from Taiwan to the Middle East to UH to UH Eastern Europe. There's stuff 69 00:05:35.319 --> 00:05:39.439 going on. But then when I sit back and think, it's like, 70 00:05:39.639 --> 00:05:44.000 really, if these governments will all together and they all get together for these 71 00:05:44.040 --> 00:05:47.839 meetings, why are they allowing themselves to be in war? Why do they 72 00:05:47.879 --> 00:05:53.759 allow themselves to be kid that the people killing each other. They're the ones 73 00:05:53.759 --> 00:05:59.079 in charge. They can say no more war. We're not gonna have conflict 74 00:05:59.120 --> 00:06:02.519 in China and Taiwan. We're not gonna have conflict whether Ukraine and Russia. 75 00:06:02.560 --> 00:06:06.600 We're not gonna have conflict in the Middle East. So how do you do 76 00:06:06.639 --> 00:06:11.319 that? You cut out the bad apples. You don't let Iran be doing 77 00:06:11.360 --> 00:06:15.800 what they're doing. You don't let Russia doing what they're doing. And if 78 00:06:15.800 --> 00:06:20.879 they come to these global meetings and these global discussions, why are these leaders 79 00:06:21.160 --> 00:06:25.480 not just saying we're gonna what can we do to stop these wars? If 80 00:06:25.519 --> 00:06:28.199 they wanted to stop the wars, they could you know that, and I 81 00:06:28.279 --> 00:06:30.680 know that, just stop them fix it, fix the economies, and let's 82 00:06:30.720 --> 00:06:35.680 live happily. Ever after, there's something that goes on with the good governments, 83 00:06:35.720 --> 00:06:41.600 the bad governments, these superpowers in order to keep themselves in power. 84 00:06:43.160 --> 00:06:46.279 We know that we got dictatorships all over the place having bad things, and 85 00:06:46.439 --> 00:06:51.759 us, they're supposed to be a democracy, trying to make it all work. 86 00:06:54.240 --> 00:06:59.040 I'm happy the economy is doing great. I'm happy the markets are doing 87 00:06:59.079 --> 00:07:04.360 great. I wish I felt more that there was a substantial reason why they're 88 00:07:04.399 --> 00:07:11.480 doing so good, other than just well, we're resilient. Well, we 89 00:07:11.519 --> 00:07:15.000 can only be resilient for so long if inflation keeps coming down. I agree, 90 00:07:15.160 --> 00:07:16.920 we can keep going high, But will the earnings be there? We 91 00:07:16.959 --> 00:07:26.360 saw last week companies not having good earnings are intel missed, United Healthcare getting 92 00:07:26.439 --> 00:07:29.000 killed, Your man are getting killed. These are healthy. These are companies 93 00:07:29.040 --> 00:07:38.839 that will cast cows because they're predicting and projecting that they will not meet their 94 00:07:38.839 --> 00:07:43.079 revenues or in their earnings going forward over the next year. So are they 95 00:07:43.160 --> 00:07:47.839 right or the market's right? Either way anyway doesn't matter. I can tell 96 00:07:47.839 --> 00:07:50.759 you this right now. We have moved up very fast. I'm not just 97 00:07:50.800 --> 00:07:56.040 talking about this year. I'm talking about late last year into the third and 98 00:07:56.079 --> 00:08:01.160 fourth quarter, and now the first quarter pull back. You can go into 99 00:08:01.199 --> 00:08:05.120 money market funds and now and try to get five percent, not any brokerage 100 00:08:05.120 --> 00:08:07.199 money markets. You got to go ahead and go in the fidelities or vanguards 101 00:08:07.240 --> 00:08:11.959 of one of those within your portfolio. You don't have to take money out 102 00:08:11.959 --> 00:08:18.399 and send it to them, just buy the symbol. They're paying you over 103 00:08:18.480 --> 00:08:24.199 five percent. It's not bad. Now, don't go to cash with everything. 104 00:08:26.720 --> 00:08:30.439 But I started looking at trimming back. This week. We trimmed back 105 00:08:30.480 --> 00:08:33.399 some of our sp wives, we trimmed back some of our qqqs. I 106 00:08:33.480 --> 00:08:39.440 trim back some individual stocks. Trimming back doesn't mean you sell the entire position. 107 00:08:39.879 --> 00:08:41.919 It means you're reducing it. If you want to be in three percent 108 00:08:41.960 --> 00:08:46.279 to four percent of five whatever it is, and you're higher than that percentage, 109 00:08:46.279 --> 00:08:52.679 you pull back to the percentage of your model. Yes, it's not 110 00:08:52.000 --> 00:08:56.279 fun to get out and watch a stock go at fifteen hundred points more, 111 00:08:56.399 --> 00:09:05.120 but remember you're still having it profitable because you still have part of your portfolio 112 00:09:05.159 --> 00:09:07.159 in there. And if it goes not that much, what do you have 113 00:09:07.200 --> 00:09:11.039 to do again? Trim it again. But if the markets fall and your 114 00:09:11.080 --> 00:09:15.039 stock falls or your positions for all ther index falls, that care set. 115 00:09:15.080 --> 00:09:18.120 You're now sitting in five percent, you're able to raise. So if you 116 00:09:18.120 --> 00:09:20.120 want to be a three percent you got to four and a half, you 117 00:09:20.200 --> 00:09:22.120 cut back by one and a half percent. If you go down to where 118 00:09:22.120 --> 00:09:26.039 we're at one and a half percent, you increase it back to three percent. 119 00:09:26.200 --> 00:09:31.360 That's how you manage money. You could has your portfolio does the same 120 00:09:31.360 --> 00:09:35.559 thing, so that way you don't always have to pay taxes. There's ways 121 00:09:35.559 --> 00:09:43.080 to do things without tax implications. It's very important to understand all of this 122 00:09:43.320 --> 00:09:48.320 because when the markets don't make sense, and believe me, when the markets 123 00:09:48.360 --> 00:09:52.240 are getting beat up, right, and I remember after two thousand and one, 124 00:09:52.279 --> 00:09:56.840 and after two thousand and eight, and people and either two in the 125 00:09:56.000 --> 00:10:03.519 UH in twenty twenty, when the markets were going down, people oh, 126 00:10:03.559 --> 00:10:05.120 I can't get invested. I got to get out. The market's going lower. 127 00:10:05.600 --> 00:10:09.480 And what they do they sold as it was going down, and then 128 00:10:09.519 --> 00:10:16.960 they never got back in because they didn't have trigger points. The idea is, 129 00:10:16.000 --> 00:10:20.840 if you're selling what is going down, start looking for good quality stocks, 130 00:10:20.879 --> 00:10:22.960 come out of the garbage, go into quality. If you don't have 131 00:10:24.039 --> 00:10:26.000 any garbage, come out of some of the quality, but don't come out 132 00:10:26.000 --> 00:10:28.159 of it all air to it. If it comes down, air to it. 133 00:10:28.200 --> 00:10:33.639 If it goes up, you start dollar dollar cost averaging again. But 134 00:10:33.720 --> 00:10:39.600 the idea is is you don't stop investing. It's a different style of investing, 135 00:10:39.799 --> 00:10:43.200 that's all. You're aggressive when the markets go down ten, fifteen, 136 00:10:43.279 --> 00:10:48.679 twenty thirty percent, and you're cautious when the markets go up twenty thirty forty 137 00:10:48.720 --> 00:10:58.440 percent. That doesn't make sense, Then talk to somebody. You have to 138 00:10:58.480 --> 00:11:01.919 not only in invest on your wrist side, you have to invest on your 139 00:11:01.919 --> 00:11:07.080 fixed income side. People say, oh, I can't get enough money out 140 00:11:07.080 --> 00:11:09.519 of my portfolio without a moment. Well, you know what, You're in 141 00:11:09.559 --> 00:11:15.840 better shape today than you were three years ago because fixed income wasn't paying you 142 00:11:15.879 --> 00:11:18.559 anything. Fixed income wasn't even paying you one percent. Money markets weren't even 143 00:11:18.559 --> 00:11:22.279 paying your half a percent. Now money markets are paying five percent. Money 144 00:11:22.279 --> 00:11:26.240 markets A bonds are paying your four and a half to five and a half 145 00:11:26.240 --> 00:11:33.320 percent quality government bonds, good quality corporate bonds. My gers are paying your 146 00:11:33.639 --> 00:11:43.600 five and a half sometimes six percent, And you don't and attack deferred backed 147 00:11:43.639 --> 00:11:48.840 by the insurance company. These are good things. Here are other things that 148 00:11:50.000 --> 00:11:56.279 are out there. And when you set up your portfolio and somebody said, 149 00:11:56.279 --> 00:11:58.799 well, you know, I want to be more aggressive, I want to 150 00:11:58.799 --> 00:12:03.279 make those type returns. Remember when you put your portfolio together, say you 151 00:12:03.320 --> 00:12:09.799 want thirty percent of your assets in the risk type of stocks, like the 152 00:12:09.960 --> 00:12:13.120 S and P type stuff and things like that. Right, So what happens 153 00:12:13.159 --> 00:12:16.320 is when the markets go up, don't say and say, oh, they 154 00:12:16.320 --> 00:12:18.679 were up fifteen percent, and you say, oh, I'm only up nine 155 00:12:18.720 --> 00:12:22.960 percent, But was that thirty percent up fifteen percent or more or less. 156 00:12:24.240 --> 00:12:28.039 That's what you have to go ahead and analyze. Is the part of your 157 00:12:28.039 --> 00:12:31.360 money that you're putting at risk. Did it perform well? People that were 158 00:12:31.360 --> 00:12:37.480 in the Magnificent seven last you didn't perform much higher than the NASDAC. The 159 00:12:37.519 --> 00:12:41.840 people in the S and P five hundred, okay, did what they did 160 00:12:41.120 --> 00:12:46.240 in the spys, which was the which was the S and P five hundred. 161 00:12:46.440 --> 00:12:50.039 But if you had an overall portfolio obviously didn't keep up with just the 162 00:12:50.080 --> 00:12:58.159 index, but the part of it that is matched to those areas will do 163 00:12:58.279 --> 00:13:05.000 what you want. So that's why you diverse and allocate, and then obviously 164 00:13:05.159 --> 00:13:11.519 where we are now, why is everyone cautious because of the geopolitical environment? 165 00:13:11.000 --> 00:13:16.120 And I don't blame them. I don't blame them. You got two wars 166 00:13:16.120 --> 00:13:26.200 going on, you got rumblins over in China in Taiwan, and we got 167 00:13:26.759 --> 00:13:35.240 a bubbling supposedly president that doesn't get what's going on, can't get it done. 168 00:13:37.919 --> 00:13:43.919 It's amazing how much our foreign policy, our foreign relationships are worse today 169 00:13:43.960 --> 00:13:48.320 than they were with Trump and everybody who's complaining about Trump. We're in two 170 00:13:48.360 --> 00:13:50.039 wars right now, and when Trump was here, we were none. We 171 00:13:50.039 --> 00:13:58.679 were getting out of them. Our border is a mess, and you're looking 172 00:13:58.679 --> 00:14:05.240 at it possible the start of some type of civil war in Texas. It's 173 00:14:05.279 --> 00:14:11.480 amazing how these people in Washington sit in their White House, perched on their 174 00:14:13.639 --> 00:14:20.919 pedestals and they just talk about, we're not allowing you to go ahead and 175 00:14:20.919 --> 00:14:24.960 put up that Bob Wier to protect you and your citizens of Texas. Just 176 00:14:26.080 --> 00:14:31.080 let them come across with no other solution. Just we're gonna send people down 177 00:14:31.120 --> 00:14:33.399 there and we're gonna cut that down and we're gonna get rid of it and 178 00:14:33.919 --> 00:14:37.799 threaten you got twenty four hours and if you don't do it, we will 179 00:14:37.799 --> 00:14:41.559 do it. And whatever happens happened pretty much. Well, if you think 180 00:14:41.559 --> 00:14:46.240 the people of Texas are gonna sit there and take that, I don't think 181 00:14:46.279 --> 00:14:50.000 so. I don't think so. The good old boys of Texas are not 182 00:14:50.039 --> 00:14:54.120 gonna sit there and accept the fact that this federal government is going to put 183 00:14:54.120 --> 00:14:58.960 their families, their state at risk with millions more people coming across the border 184 00:15:00.600 --> 00:15:05.480 when they're trying to protect themselves. The economy in there is I do believe 185 00:15:05.480 --> 00:15:09.799 you've followed the law, and the problem is is that Supreme Court ruled against 186 00:15:09.840 --> 00:15:16.080 that and that Biden they need to follow Biden's rules. The problem is Biden's 187 00:15:16.120 --> 00:15:22.120 not following his own rules. He's not protecting us, he's not protecting America. 188 00:15:22.360 --> 00:15:28.000 It's not I shouldn't say nobody. There's very few people out there that 189 00:15:28.080 --> 00:15:31.759 don't think we ever bought a crisis. But yet he refuses to stop people 190 00:15:31.799 --> 00:15:35.320 from coming in. I don't know who knows if we got fifteen to twenty 191 00:15:35.440 --> 00:15:43.799 thirty forty million illegal immigrants in the United States right now doing nothing, but 192 00:15:43.559 --> 00:15:50.080 most of them are afraid to expose themselves and go get a job and do 193 00:15:50.120 --> 00:15:54.720 all the things you need to do. We have shortage of label. Let's 194 00:15:54.759 --> 00:15:58.240 figure it out. Not everyone's going to be happy, but let's figure it 195 00:15:58.279 --> 00:16:03.879 out. Let's get them speaking English, let's get them educated, Let's get 196 00:16:03.879 --> 00:16:07.120 them doing the things that we need to do so they can get ready for 197 00:16:07.159 --> 00:16:12.000 the trade jobs that they know. Whether it's agriculture, hospitality, accountants, 198 00:16:12.559 --> 00:16:19.600 I don't care what it is. We need more good quality workers. And 199 00:16:19.679 --> 00:16:23.080 I'm going to say this, most people that are going to take that track 200 00:16:23.159 --> 00:16:26.879 and move that far, people that want to work, that want a better 201 00:16:26.960 --> 00:16:33.799 life, they will do what it takes. But you're not going to do 202 00:16:33.879 --> 00:16:37.559 it and expose yourself if you feel like you're always going to be arrested or 203 00:16:37.600 --> 00:16:41.559 sent back or deported or whatever. But we got to sift through to the 204 00:16:41.600 --> 00:16:47.320 good ones versus the bad ones. Well, it's kind of interesting what's going 205 00:16:47.360 --> 00:16:49.840 on there. It's not going to end well if this push comes to shove, 206 00:16:51.679 --> 00:16:55.360 because I tell you right now, it's no different than people that are 207 00:16:55.840 --> 00:17:00.759 threatening you at your house like they did to those people in Illinois, and 208 00:17:00.840 --> 00:17:07.200 they came out to defend themselves and they got arrested. If they don't come 209 00:17:07.240 --> 00:17:11.200 out and defend themselves. If we don't defend ourselves in Texas and then probably 210 00:17:11.240 --> 00:17:18.279 Arizona is going to have to do it next. The people that are going 211 00:17:18.319 --> 00:17:21.799 to be in trouble the people that live here, and we're not going to 212 00:17:21.880 --> 00:17:23.480 back down. The Texas is not going to back down and say, yeah, 213 00:17:23.519 --> 00:17:27.200 come on, you know you can invade my family, my place of 214 00:17:27.640 --> 00:17:30.920 business, my place of living. Come on in, Let me pay for 215 00:17:32.000 --> 00:17:34.119 you, Let me give your places to live, let me give you food, 216 00:17:34.319 --> 00:17:37.160 let me give you comfort. Meanwhile, we got poor people not eating 217 00:17:37.200 --> 00:17:44.640 even close to being taken care of like they are. It's all about common 218 00:17:44.720 --> 00:17:48.880 sense right now, and it's obvious that Washington has no common sense as the 219 00:17:49.000 --> 00:17:55.960 behind they're fenced in properties, having their servants make their meals and clean their 220 00:17:55.960 --> 00:18:03.480 house, driving their gasoline cars. Well, all the regulations want to ruin 221 00:18:03.519 --> 00:18:07.960 America. I don't know where it comes from. I don't know where it 222 00:18:08.000 --> 00:18:11.720 comes from, but I know, after hearing what we heard this week, 223 00:18:12.359 --> 00:18:18.440 I don't trust, I don't believe, and I think it's rampant in politics. 224 00:18:19.759 --> 00:18:25.759 And you know what I'm talking about, what's going on with Kerry Lake, 225 00:18:26.599 --> 00:18:32.200 that's just a tip of the iceberg. But I cannot believe that the 226 00:18:32.279 --> 00:18:37.319 powers to be of the Republican Party had the Republican Party chairman here go to 227 00:18:37.400 --> 00:18:45.799 her house and try to bribe her. Now, think about this. He's 228 00:18:45.839 --> 00:18:49.680 trying to lie his way out and said he was set up. And everyone's 229 00:18:49.680 --> 00:18:56.799 heard the tape. Could you imagine if there was no recording and she just 230 00:18:56.799 --> 00:19:00.559 says, I'm going to expose you. Which is fun going on for when 231 00:19:00.599 --> 00:19:03.000 people come out and say these unbelievable things and they're just say, no, 232 00:19:03.119 --> 00:19:07.440 that's not true. They didn't hear it right. They were setting me up. 233 00:19:07.599 --> 00:19:08.920 They were doing this and doing that, and that's what the media runs 234 00:19:08.920 --> 00:19:18.720 with. This is cold hard facts. You have it on tape recorded offering 235 00:19:18.200 --> 00:19:23.319 a job that will pay you money while you sit out. The people back 236 00:19:23.400 --> 00:19:29.480 east that you need to sit out will help support you in the next race. 237 00:19:29.519 --> 00:19:32.799 Why would she ever believe that? Why would she ever do it when 238 00:19:32.799 --> 00:19:38.680 they didn't support it before. So it's just not the Democrats, it's the 239 00:19:38.680 --> 00:19:44.759 these Republicans that just want the power. They can't get out of their own 240 00:19:44.799 --> 00:19:49.519 way. It is we need to shake up the whole damn thing. I 241 00:19:49.599 --> 00:19:56.039 am so proud of Kerry Lake to basically say on tape ten million, fifty 242 00:19:56.039 --> 00:20:00.200 million, a billion, it doesn't matter. I cannot be bought. When 243 00:20:00.319 --> 00:20:07.200 was the last time you heard that from somebody. We certainly didn't hear from 244 00:20:07.200 --> 00:20:14.640 a football coach here who left for fifty six million and that was legal. 245 00:20:15.680 --> 00:20:19.000 So if they're trying to bribe her, now, how many Democrats get bribed 246 00:20:19.400 --> 00:20:26.160 all the time, How many Republicans get bribed all the time. And if 247 00:20:26.160 --> 00:20:30.640 you think the bribing people, which I do now for sure, to run 248 00:20:30.680 --> 00:20:37.359 the races they want, don't you dare tell me you don't think that they 249 00:20:37.839 --> 00:20:41.519 fixed the election, that they cheated on the election where they needed to be. 250 00:20:41.599 --> 00:20:44.880 Don't tell me that. I'm not going to say I'm an election deny. 251 00:20:44.920 --> 00:20:45.480 I'm not even going to say I want to go back there, but 252 00:20:45.559 --> 00:20:52.279 damn it, going forward, our election better be clean. And the only 253 00:20:52.279 --> 00:20:55.559 way are you going to do it with all this stuff that we're hearing, 254 00:20:55.920 --> 00:20:59.279 Arizona Republicans should vote and say, you know what, we're going to make 255 00:20:59.319 --> 00:21:03.160 sure that our election coming up in November is going to be one ballot, 256 00:21:03.559 --> 00:21:10.400 one person. We either match it up as a as someone that mailed it 257 00:21:10.440 --> 00:21:15.079 in or you come down and do it and drop it off at the place. 258 00:21:15.400 --> 00:21:19.200 None of this harvest harvesting, none of this other stuff. We need 259 00:21:19.240 --> 00:21:23.640 to go the opposite way right now to convince people that our elections are clean 260 00:21:25.119 --> 00:21:29.440 and legal, because right now, I don't believe it. If they're able 261 00:21:29.599 --> 00:21:36.799 to go in and try to bribe someone with tens of millions of dollars to 262 00:21:37.000 --> 00:21:41.680 not run for Senate, that's taking away our freedoms to who we want to 263 00:21:41.759 --> 00:21:48.680 vote for. I want an honest election, not just here but every single 264 00:21:48.720 --> 00:21:55.640 state in America. That's what needs to be changed right now. These politicians 265 00:21:56.680 --> 00:22:00.119 don't trust them. And at the end of the day, if you're bribing, 266 00:22:00.400 --> 00:22:03.319 why you're not in jail. Why did they not just go lock him 267 00:22:03.400 --> 00:22:07.440 up? I don't care if he resigned. You couldn't do it. I 268 00:22:07.480 --> 00:22:12.799 couldn't do it. Think about it. That was what we found out and 269 00:22:12.839 --> 00:22:19.000 got caught. What's really going on. Where's the exposure to all this Democrats 270 00:22:19.039 --> 00:22:23.640 and Republicans. That's why they hate Trump so much, and that's why they're 271 00:22:23.640 --> 00:22:27.559 trying to get Trump through the courts, and that's why they're trying to stop 272 00:22:27.759 --> 00:22:33.599 people like Kerry Lake they have to be so extreme to the other side because 273 00:22:33.599 --> 00:22:38.880 they have to fight, and they don't want it that way. They want 274 00:22:38.920 --> 00:22:42.200 someone that's moderate, they can control. I don't want that. I want 275 00:22:42.200 --> 00:22:48.039 someone that's independent that can help us grow this country. Stop the damn border, 276 00:22:48.000 --> 00:22:55.359 keep our economy going, make us safe in the with foreign policy, 277 00:22:55.559 --> 00:23:02.559 that's what I want. I want the wars to stop. College's education to 278 00:23:02.640 --> 00:23:07.839 become reasonable. I don't want to be charging interest on college loans. If 279 00:23:07.880 --> 00:23:11.640 you give or get a loan, you pay it back at a very low 280 00:23:11.680 --> 00:23:15.279 interest, one to two percent, and give incentives to get it done. 281 00:23:17.160 --> 00:23:21.039 I want a whole new immigration policy to teach each people how to go ahead 282 00:23:21.240 --> 00:23:23.799 and learn their trades and do stuff and speak English and be able to become 283 00:23:23.839 --> 00:23:30.680 a citizen down the road ten twelve years to become an American citizen because they 284 00:23:30.680 --> 00:23:36.759 did everything right. I want a border that you can't get through unless we 285 00:23:36.880 --> 00:23:41.759 allow you to come through both north and South. I want the drugs to 286 00:23:41.799 --> 00:23:45.319 stop. I want the fen and all to stop. I want us to 287 00:23:45.359 --> 00:23:51.079 go ahead and help Mexico clean up their entire country. I want us to 288 00:23:51.119 --> 00:23:55.720 take everything away from China and bring it back to Mexico. We want cheap 289 00:23:55.799 --> 00:23:59.960 labor. We'll get cheap labor from there. We'll save all the trades. 290 00:24:00.039 --> 00:24:07.519 Interpretation, this seems too much. I'm sorry, but I believe this is 291 00:24:07.559 --> 00:24:11.119 the way America has to go. I believe it's there. I believe we 292 00:24:11.160 --> 00:24:15.359 need to start looking at changes. We need to start looking at five, 293 00:24:15.519 --> 00:24:18.839 ten, twenty, thirty years out, not three months out, not one 294 00:24:18.920 --> 00:24:21.799 year out, not two years out. We need a change in America, 295 00:24:22.680 --> 00:24:25.440 and not a civil war. We'll be back. This is Dean Greenberg. 296 00:24:25.599 --> 00:24:33.160 I appreciate you listening to the money about his show. Welcome back everybody. 297 00:24:33.240 --> 00:24:37.079 It's the money about his show. Hope everyone's having a good weekend. Hey, 298 00:24:37.440 --> 00:24:41.480 Dave, Dylan and sebast He's filling in for Todd today. Yes he 299 00:24:41.640 --> 00:24:47.200 is. God's over in California visitings. He great grandmother, great grandmother's ninety 300 00:24:47.319 --> 00:24:49.680 seventh birthday. That's so cool. That is so My grandmother had one hundred 301 00:24:49.720 --> 00:24:52.680 year at birthday. You remember that here, I do. Did you know 302 00:24:52.720 --> 00:24:57.359 your great grandmother? Yes? You did? Wow. When I remember my 303 00:24:57.400 --> 00:25:02.680 great grandmother and she lived in brook And I didn't really understand most of this 304 00:25:02.720 --> 00:25:07.960 untill later. She couldn't really speak to English. She came from Russia, 305 00:25:07.000 --> 00:25:12.119 and I remember her sitting in the kitchen all the time in this kind of 306 00:25:12.160 --> 00:25:18.440 big house. I'm like, Later I found out that my great grandfather had 307 00:25:18.440 --> 00:25:22.480 a lot to do with building the subways, actually building the subways in New 308 00:25:22.559 --> 00:25:26.759 York. Wow. He died and I never knew him. He died about 309 00:25:26.759 --> 00:25:30.240 two or three years before I was born, but in nineteen ninety, nineteen 310 00:25:30.319 --> 00:25:36.240 fifty five and stuff, he was worth about eight and a half million dollars. 311 00:25:36.440 --> 00:25:41.480 Wow. But my grandmother, Okay, had also another nine brothers and 312 00:25:41.519 --> 00:25:45.079 sisters, so there was ten in the family. Her and her brother were 313 00:25:45.079 --> 00:25:52.480 always honest. The other eight stole from their mother. By the time I 314 00:25:52.559 --> 00:25:56.279 got done to get passed on to other generations, nothing left, Oh my 315 00:25:56.319 --> 00:25:59.640 goodness, nothing left. And that's what I remember. But I used to 316 00:25:59.680 --> 00:26:02.839 go to a She's have these. I always thought they were like stuffed cows. 317 00:26:03.119 --> 00:26:07.000 You were like almost life sized cows up there, and I always like 318 00:26:07.000 --> 00:26:08.519 like, like, what the hell? And I tried to play with him. 319 00:26:08.519 --> 00:26:12.759 But I was always remember seeing her in the kitchen speaking Russian, and 320 00:26:12.839 --> 00:26:17.079 she had the stockings on that she just kind of rolled up just below the 321 00:26:17.160 --> 00:26:19.599 knee. You know, today we always have all athletes had those little wrap 322 00:26:19.640 --> 00:26:22.960 around things like below the knee or the That's what she was. That's what 323 00:26:23.039 --> 00:26:27.359 she had was early and she would always have us come in and hug us 324 00:26:27.599 --> 00:26:33.119 and bring us in so close so I'm grass like I can't breathe, you 325 00:26:33.160 --> 00:26:34.559 know, And then there was that. But that's what I remember, my 326 00:26:34.599 --> 00:26:38.079 great grandmother. That's amazing. It's a nice memory. I think it's amazing. 327 00:26:38.240 --> 00:26:44.240 Ninety seven years old and you live long enough that you not only watched 328 00:26:44.279 --> 00:26:48.240 your grandchildren to grow up, get married, have kids, but your great 329 00:26:48.240 --> 00:26:52.599 grandchildren and grow up. That's just amazing that her great grandchildren and are in 330 00:26:52.640 --> 00:26:56.559 their twenties. That is quite a run and that is really special. Do 331 00:26:56.640 --> 00:27:00.160 you think, Yeah? I think I was. I was nine my great 332 00:27:00.160 --> 00:27:06.480 grammar dad. Yeah. I must have been asked a dozen times this week, 333 00:27:06.559 --> 00:27:07.759 what's going on with the stock market? What's going on with the stock 334 00:27:07.799 --> 00:27:11.480 market? And really, if you step back and look at it, it 335 00:27:11.519 --> 00:27:17.200 really is a Goldielocks type of scenario for stocks. It's the perfect storm. 336 00:27:17.640 --> 00:27:22.480 If you will, you have a good economy, growing economy, you have 337 00:27:22.559 --> 00:27:26.079 interest rates declining and inflation declining, oil prices declining, and then you're throwing 338 00:27:26.119 --> 00:27:33.079 a little batch of a little dose of AI and you've got a really perfect 339 00:27:33.160 --> 00:27:37.119 environment for stocks. So people that are concerned anytime the market hits it an 340 00:27:37.160 --> 00:27:41.559 all time high, obviously you're wanting to be a little bit more cautious. 341 00:27:41.960 --> 00:27:44.640 But there's reasons for it, yeah, exactly, And I mean it's not 342 00:27:44.680 --> 00:27:47.640 a bad idea to start being a little cautious when the market's hitting all time 343 00:27:47.680 --> 00:27:48.640 highs. If you have a bunch of profit, maybe take them off the 344 00:27:48.640 --> 00:27:52.319 table and just raise some cash for we we trimmed back last week. And 345 00:27:52.359 --> 00:27:55.640 what I mean by that is if you have if you want to keep a 346 00:27:55.640 --> 00:28:00.400 five percent position on just hypothetically on video and it's just skyrocket the beginning of 347 00:28:00.440 --> 00:28:03.599 the year, and I have a ten percent position, sell five percent bring 348 00:28:03.599 --> 00:28:06.079 it back down to where you were. Now you got five percent in profits 349 00:28:06.079 --> 00:28:07.839 that you're having cash, and you can look for other opportunities. That's the 350 00:28:07.880 --> 00:28:11.319 idea behind it. You don't want to go all in, all out. 351 00:28:11.039 --> 00:28:15.720 There's no saying, Dylan that you never grow broke, take in the profit 352 00:28:15.119 --> 00:28:18.480 exactly and kick yourself. But you still made the money. Right If you're 353 00:28:18.480 --> 00:28:22.079 trying to buy at the low and sell it the high. That is never 354 00:28:22.240 --> 00:28:23.599 going to happen. You're gonna get too greedy and you're gonna lose. If 355 00:28:23.599 --> 00:28:27.079 you bought yourself. You know, one hundred shares that Nvidia at one hundred 356 00:28:27.119 --> 00:28:30.920 and it's now at six hundred, and you haven't sold any you might want 357 00:28:30.960 --> 00:28:33.880 to take them off the table. Get a little little thought to that doesn't 358 00:28:33.960 --> 00:28:37.240 hurt. No. Typically I do the section out of later points in the 359 00:28:37.240 --> 00:28:40.440 show, but since we're talking about those all time highs, I'm going to 360 00:28:40.480 --> 00:28:42.200 do it now. Okay, if you have any questions and you want them 361 00:28:42.200 --> 00:28:45.559 answered on the show, you could write us in and that's contact at Greenberg 362 00:28:45.599 --> 00:28:49.119 Financial dot com. This question comes in from Troy. He says, with 363 00:28:49.240 --> 00:28:53.759 markets at all time highs, uncertainties around the markets, and interest rates and 364 00:28:53.920 --> 00:28:59.359 interest rates, I'm considering golden precious metals as a safe haven. It is 365 00:28:59.400 --> 00:29:03.400 now a good time to invest in them. Commodities by their very nature are 366 00:29:03.440 --> 00:29:07.799 speculative. So if you're a you know, an eighty year old with a 367 00:29:07.839 --> 00:29:12.599 balanced portfolio, no, if you're a twenty five thirty year old who wants 368 00:29:12.640 --> 00:29:15.640 to tee it up a little bit, you'll have some fun. I mean, 369 00:29:15.680 --> 00:29:19.079 gold's not too far off at the all time high. Is that a 370 00:29:19.079 --> 00:29:23.200 place to be to loading up? You don't know. It doesn't do much. 371 00:29:23.279 --> 00:29:26.480 I mean since I've been in the business six years, it's just fluctuated 372 00:29:26.480 --> 00:29:30.319 from eighteen hundred to twenty one hundred. Yeah, it doesn't do much. 373 00:29:30.519 --> 00:29:33.599 It's thought of as an alternative. It's like just safe money in the sense, 374 00:29:33.640 --> 00:29:36.200 but like you said, it's speculative. If you're looking for something more 375 00:29:36.240 --> 00:29:38.720 safe, look to go to treasuries, look to go to corporate grade A 376 00:29:38.839 --> 00:29:42.599 corporate bonds if you're looking to park your money somewhere for a long time, 377 00:29:42.680 --> 00:29:48.079 or CDs. Yeah. In the in the perfect world, a gold moves 378 00:29:48.160 --> 00:29:52.960 inversely to interest rates, which is why it's not a good inflation head. 379 00:29:52.079 --> 00:29:56.960 If interest if you have inflation, interest rates are rising, and because interest 380 00:29:57.200 --> 00:30:02.240 gold is priced in dollars, the dollar also rising, gold is going to 381 00:30:02.279 --> 00:30:04.079 decline in that environment. Yeah, well you could look at it saying, 382 00:30:04.119 --> 00:30:07.039 okay, we're thinking that interest rates are going to drop, so maybe gold 383 00:30:07.119 --> 00:30:11.119 is going to go up. If gold drops, then the US dollar drops, 384 00:30:11.200 --> 00:30:15.920 then gold probably will do okay. But it's been kind of stuck in 385 00:30:15.279 --> 00:30:21.599 around that twenty eighteen hundred twenty fifty area for a while now for a while. 386 00:30:21.720 --> 00:30:25.279 But it is it is speculative. It's bitcoin. I mean it really 387 00:30:25.359 --> 00:30:30.240 is speculative. Commodities are are what somebody's willing to pay you for them, 388 00:30:30.279 --> 00:30:34.599 and there is no price earnings ratio, there's no sales, there's no corporate 389 00:30:34.640 --> 00:30:40.640 governance. It is gold, yes, to mention a derivative of gold, 390 00:30:40.720 --> 00:30:42.920 but yeah, that's not saying speaking a bitcoin. It was pretty flat for 391 00:30:42.960 --> 00:30:45.920 the week. It dropped the lot during the middle of the week. It 392 00:30:45.920 --> 00:30:49.200 started at roughly forty one thousand and change on Monday, and I mean it 393 00:30:49.240 --> 00:30:52.200 goes twenty four to seven all the time. But what we look at it 394 00:30:52.319 --> 00:30:55.440 tends to be especially now that the ETFs are out. You look for the 395 00:30:55.440 --> 00:30:59.279 five days, and it was roughly forty one thousand change on Monday and did 396 00:30:59.319 --> 00:31:03.160 Friday one thousand change, and in the middle it hit a two months low 397 00:31:03.759 --> 00:31:07.599 exactly. So it really just came back to flat. But I mean that's 398 00:31:07.599 --> 00:31:10.720 why with bitcoin, like we say, it's very speculative, more so than 399 00:31:10.759 --> 00:31:12.720 gold than it moves a lot. It's very volatile. Major change in the 400 00:31:12.759 --> 00:31:18.480 market this week, we've been talking about the Magnificent seven, those seven stocks 401 00:31:18.480 --> 00:31:22.440 that drove the market last year. We have now changed that. Now the 402 00:31:22.480 --> 00:31:29.079 Magnificent seven is now gone and we have the Super six, and we have 403 00:31:29.200 --> 00:31:34.079 the Super six. Why dealing Tesla's out of there? Tesla dammered on Thursday. 404 00:31:34.279 --> 00:31:37.119 Tesla's just getting hammered. And this should not come as a surprise. 405 00:31:37.200 --> 00:31:44.519 We've talked about on the show. EV's prices are dropping because of competition. 406 00:31:45.240 --> 00:31:51.240 Ev prices are dropping because of slowing demand. That Tesla would come out and 407 00:31:51.400 --> 00:31:56.359 say that deliveries in twenty twenty four could be noticeably lower than they were in 408 00:31:56.400 --> 00:32:01.160 twenty twenty three shouldn't have been shock to anybody, but it dropped the stock. 409 00:32:01.400 --> 00:32:07.000 Tesla is now down I think twenty five percent for the year, which 410 00:32:07.039 --> 00:32:09.359 makes it somewhat less than magnificent, which means it was pretty flat because it 411 00:32:09.400 --> 00:32:15.759 was down twenty five percent on Thursday. Think you got down to on a 412 00:32:15.799 --> 00:32:17.559 Friday at Friday's close, it was I think one eighty two or one eighty 413 00:32:17.599 --> 00:32:22.039 three, and I thought, well, that might be an attractive entry point. 414 00:32:22.279 --> 00:32:25.440 Then I'll look back a year ago it was one on one. A 415 00:32:25.519 --> 00:32:30.359 year ago, Tesla stock was one oh one. Yeah. And what we 416 00:32:30.400 --> 00:32:35.039 always say too is stock craters like this, be patient. It doesn't just 417 00:32:35.079 --> 00:32:37.079 automatically the next day turn around and go back up twenty five percent. It 418 00:32:37.160 --> 00:32:40.880 tends to stay around. This might drop a little lower. Let it stabilize 419 00:32:40.920 --> 00:32:44.279 before you go get your feet wet with it. Let the dust settle. 420 00:32:45.079 --> 00:32:47.839 Speaking of that magnificance Magnificent seven, you have a bunch of key earnings coming 421 00:32:47.920 --> 00:32:51.839 up next week. You got Apple, Alphabet, Amazon AMD, which is 422 00:32:51.880 --> 00:32:54.680 not part of the Magnificent seven, but you've kind of seen that run up 423 00:32:54.720 --> 00:32:59.519 with the latest AI craze, and you also have Meta and Microsoft's all next 424 00:32:59.519 --> 00:33:04.039 week it's going to be a hopefully also, how's that mags etf doing. 425 00:33:04.960 --> 00:33:07.799 Not They're gonna have to come out with super or something on clobberard because their 426 00:33:07.839 --> 00:33:09.319 Tesla, right, I know, but now it's not even Magnificent seven anymore. 427 00:33:09.319 --> 00:33:13.839 They're gonna have to come out the new et. It is amazing, 428 00:33:13.839 --> 00:33:15.759 but next week is And of course, at the end of the day, 429 00:33:15.799 --> 00:33:20.480 earnings are what drives the market, and and earnings have been good. They've 430 00:33:20.519 --> 00:33:23.960 been strong. In addition to this growing economy and the and the droppings the 431 00:33:24.359 --> 00:33:30.680 Goldie auctioncenario I described earlier. Earnings have been so far pretty good this quarter, 432 00:33:30.079 --> 00:33:36.400 and next week we get the biggest week of earnings this entire quarter and 433 00:33:36.480 --> 00:33:40.400 a lot of very major, big name stocks that will move the market one 434 00:33:40.400 --> 00:33:46.119 way or the other. I valuations are becoming a bit of an issue, 435 00:33:47.200 --> 00:33:52.039 but I always like to say valuations don't matter until they do. Yeah, 436 00:33:52.720 --> 00:33:54.720 you know, you start to see the market roll over a little bit, 437 00:33:54.759 --> 00:33:59.440 then everybody starts to concentrate on valuations. Wha wait, wait a second, 438 00:33:59.599 --> 00:34:02.319 this is the evaluation is awfully high, and like MRK is almost one hundred 439 00:34:02.319 --> 00:34:07.119 times earnings, just well, Pfizer's seventeen times earnings. And you wonder why. 440 00:34:07.159 --> 00:34:12.000 You know, Merk recently made an acquisition of a company that specializes in 441 00:34:12.039 --> 00:34:15.320 cancer treatments. And I've got to think that the reason that merkstock has been 442 00:34:15.360 --> 00:34:19.239 so strong is that people are thinking they're going to come up with a cure 443 00:34:19.760 --> 00:34:22.920 for cancer. Now we know that there are many, many different types of 444 00:34:22.960 --> 00:34:25.400 cancer. So when that happens, though, it can be good and the 445 00:34:25.440 --> 00:34:30.000 stock will rise, but then it'll tank. Because it happened to Gilliad years 446 00:34:30.039 --> 00:34:32.280 ago. Yes, there, I forgot the exact disease. But they cured 447 00:34:32.280 --> 00:34:36.360 this disease. Stock shot up. It was the greatest thing ever. But 448 00:34:36.400 --> 00:34:38.199 then investors realized, Okay, they're going to cure the disease. Nobody's gonna 449 00:34:38.199 --> 00:34:42.920 need the medicine anymore. That all of a sudden, their sales progestions dropped 450 00:34:42.920 --> 00:34:45.639 and drop and dropped, and now it's it just tanked again, typical by 451 00:34:45.639 --> 00:34:49.920 the rumor sell the news kind of like bitcoin, right exactly, It's something 452 00:34:49.920 --> 00:34:52.320 they'd be aware of, like, Okay, they cure this disease, you're 453 00:34:52.360 --> 00:34:54.559 not gonna want to keep that stock forever because they're gonna have to come up 454 00:34:54.559 --> 00:34:58.199 with new revenu They're gonna have to do acquisitions. That's what Gilliad ran into. 455 00:34:58.360 --> 00:35:00.000 They had to start buying other small companies try and cure other things, 456 00:35:00.079 --> 00:35:05.960 which is a good thing, but from a stock perspective, it's not the 457 00:35:06.000 --> 00:35:08.119 greatest. No, that's a great and that's great insidedylan and it's absolutely right 458 00:35:08.480 --> 00:35:13.000 new all time high in all of the major industries this week, all time 459 00:35:13.079 --> 00:35:15.920 high, not fifty two weeks, all time pushing five thousand on the SMP. 460 00:35:16.199 --> 00:35:20.000 Marcus never been this high. Market. It's never been above forty nine 461 00:35:20.079 --> 00:35:24.559 hundred. What was it in before two thousand? Remember what was before the 462 00:35:24.599 --> 00:35:30.000 dot com bubble? The SMP five. I don't I'm just curious around then. 463 00:35:30.039 --> 00:35:32.599 No meanwow, but sure I was around them. I don't know. 464 00:35:32.639 --> 00:35:35.800 Other random numbers. I don't know. Yeah, I don't know that one. 465 00:35:35.840 --> 00:35:37.440 I'm sorry, I don't know that one. Probably in the two thousands, 466 00:35:37.480 --> 00:35:40.519 so it would be I was wondering when when it hit the thousand. 467 00:35:42.360 --> 00:35:45.199 I remember when the Dow hit one thousand for the first time. Okay, 468 00:35:45.239 --> 00:35:50.000 because we had Dow one thousand caps. That was way after that. Then 469 00:35:50.280 --> 00:35:54.159 nineteen three you got to coming up on a break. So we're going to 470 00:35:54.199 --> 00:35:57.840 be back. Thanks for listening and tuning into Money Matter Show. We'll be 471 00:35:57.880 --> 00:36:06.000 back. Welcome back to the Money Matter Show. Money of specially board seeing 472 00:36:06.039 --> 00:36:09.599 him here with Dave Sherwood, Dylan Greenberg, and Dean Greenberg. Here we 473 00:36:09.639 --> 00:36:15.039 are again. There are again. We're here every Friday. It's like clockwork 474 00:36:15.079 --> 00:36:17.519 again. We were talking every Sunday, I mean every Sunday. We were 475 00:36:17.519 --> 00:36:22.800 talking about the market hitting new all time highs and why you can actually make 476 00:36:22.840 --> 00:36:24.960 a case that the market should be at all time highs. If it wasn't 477 00:36:25.559 --> 00:36:29.599 at all time highs, you'd have to wonder why. And we've said on 478 00:36:29.639 --> 00:36:34.840 this show many many times that every market decline in history has one thing in 479 00:36:34.880 --> 00:36:39.320 common. Every market decline in history has been followed by a new all time 480 00:36:39.400 --> 00:36:42.840 high. It's crazy how fast it went too. Because we were talking to 481 00:36:42.840 --> 00:36:46.480 clients who came in initially back in the beginning of October open accounts and then 482 00:36:46.559 --> 00:36:50.840 wanted a fund it after the start of the year. So we met with 483 00:36:50.920 --> 00:36:53.639 them last week and we were talking about their account how it was like, 484 00:36:53.639 --> 00:36:55.559 Wow, it's got up a lot. They tend out to look at it, 485 00:36:55.599 --> 00:36:58.639 they only want to look at it twice a year, but said, 486 00:36:58.760 --> 00:37:01.639 to look at them now, it's were you were down at the beginning of 487 00:37:01.639 --> 00:37:05.719 October, and it's like you don't even remember that because it went up so 488 00:37:05.840 --> 00:37:07.000 fast and so strong for the last two and a half months of the year, 489 00:37:07.239 --> 00:37:12.320 including the first few weeks in January, which we always expect. But 490 00:37:12.360 --> 00:37:15.280 it's still crazy how fast that goes. Well. And the thing, the 491 00:37:15.360 --> 00:37:19.840 thing that is almost always the match that unites a market rally like this is 492 00:37:19.880 --> 00:37:23.760 a belief that interest rates are have peaked If interest rates are going to be 493 00:37:23.760 --> 00:37:29.880 coming down, that's good for everything. So so that that's one of the 494 00:37:30.000 --> 00:37:32.519 one of the catalysts that sent this thing going on. That note, an 495 00:37:32.559 --> 00:37:37.920 early Friday Future Future Strading PEG chances at ninety seven point four percent that the 496 00:37:38.000 --> 00:37:43.480 race will hold steady this January thirty thirty thirty first out that either, oh, 497 00:37:43.559 --> 00:37:45.840 you think they're going to start lowering the race later this year, that's 498 00:37:45.840 --> 00:37:49.320 not Why would you do that? If you're power, you've got to you've 499 00:37:49.320 --> 00:37:52.559 got to go on exactly the way you wanted to go. What's the point. 500 00:37:52.679 --> 00:37:57.199 Why why you you saved that AMMO for when you need to add a 501 00:37:57.199 --> 00:38:00.519 little fuel to a week ining economy. You know what it might hit too 502 00:38:00.599 --> 00:38:06.440 big time is housing. Once they start lolling rates the thousand prices against got 503 00:38:06.599 --> 00:38:09.519 like again somewhere they did three years ago when they raced went zero. I 504 00:38:09.559 --> 00:38:14.079 hope not because that means that when I own a house, Okay, I 505 00:38:14.079 --> 00:38:15.480 hope not, because that means the interrograce is going to go right back up, 506 00:38:16.559 --> 00:38:19.800 and that's going to be the end of that. What we'd like to 507 00:38:19.800 --> 00:38:22.800 have is some normality, right, some come back to normals. Fives in 508 00:38:22.840 --> 00:38:27.719 the fours not go down to two and a half percent for the right mortgage 509 00:38:27.760 --> 00:38:30.199 ring. And I mean it helps a lot of people. But right the 510 00:38:30.239 --> 00:38:35.440 demand in the mortgage industry, it's it's rising up three point seven percent last 511 00:38:35.440 --> 00:38:39.159 week, which pushed the NBA Mortgage Brokers Association's purchase index to its highest level 512 00:38:39.199 --> 00:38:44.800 since April twenty twenty three. That demand is starting an increase, hopefully Tod's 513 00:38:44.800 --> 00:38:47.760 house or sell. There's an interesting ETF that we came across a couple of 514 00:38:47.760 --> 00:38:50.880 weeks ago to I don't know if you guys talked about it last week when 515 00:38:50.920 --> 00:38:53.480 I wasn't here, but it was XHB. It's the home Builders ETF. 516 00:38:53.719 --> 00:38:59.280 It's an interesting stock player ETF play because it has it's the home Builders ETF, 517 00:39:00.119 --> 00:39:02.639 but it has dr Horden, it has KB homes in there, but 518 00:39:02.639 --> 00:39:06.840 it's not a huge position, and it has Pulti Homes is another big position. 519 00:39:07.039 --> 00:39:09.360 But what it also has is home Depot, Low's, Williamson, Noma, 520 00:39:09.400 --> 00:39:14.239 everything that goes into the house along with actual builders. So it's home 521 00:39:14.280 --> 00:39:17.199 Builders ETF, but it has what goes into it too, so nice and 522 00:39:17.239 --> 00:39:21.960 it's on as very bullish buy right now on this analytics that we follow. 523 00:39:22.239 --> 00:39:23.639 Yeah, it was interesting. Yeah, No, that's a nice way to 524 00:39:23.639 --> 00:39:29.400 play that. That's a good, good catcher. Dylan just quickly. Raytheon 525 00:39:29.480 --> 00:39:32.320 had a great week. Raytheon jumped above ninety dollars for the first time in 526 00:39:32.400 --> 00:39:38.320 several months. They came out with better than expected revenue and better than expected 527 00:39:38.400 --> 00:39:43.079 net income. We've said on the show here that that their business is not 528 00:39:43.119 --> 00:39:45.159 going to go away. They're going to be just fine, you know, 529 00:39:45.679 --> 00:39:49.679 but it does take time. So it's nice to see Raytheon pop up. 530 00:39:50.599 --> 00:39:53.320 Did you guys notice that we're in that time of the year where you get 531 00:39:53.320 --> 00:39:57.320 a lot of people saying, come on, make a donation to the Arizona 532 00:39:57.599 --> 00:40:00.800 tuition tax credit, which I think, which I think we're all familiar with. 533 00:40:01.360 --> 00:40:04.760 I don't know if you know this or not. For twenty five years 534 00:40:04.800 --> 00:40:08.000 we've been able to direct money to the school of our choice. But in 535 00:40:08.280 --> 00:40:15.280 Governor Katie hobbs twenty twenty four budget, she's following a campaign promise and proposing 536 00:40:15.320 --> 00:40:22.079 to completely eliminate the tuition tax credit. Wow, why that's thinking that this 537 00:40:22.159 --> 00:40:29.840 will take away the benefit that private schools have and will make public schools more 538 00:40:29.920 --> 00:40:32.920 desirable. In other words, if you can't get any kind of a benefit 539 00:40:32.960 --> 00:40:37.159 from this tuition tax payer. Again, it was a campaign promise. I 540 00:40:37.199 --> 00:40:39.559 think that odds of it happening, the odds of it happening. You don't 541 00:40:39.559 --> 00:40:43.159 want to make public schools better. You want to keep like You don't want 542 00:40:43.159 --> 00:40:45.320 to give public schools more funding. No, you want to make public schools 543 00:40:45.320 --> 00:40:49.639 better, and you do that by not allowing people to give twenty five hundred 544 00:40:49.639 --> 00:40:52.159 bucks to private schools. Gotcha. God, So private school is going to 545 00:40:52.199 --> 00:40:57.000 struggle more. They're gonna have to raise the tuition. That'll drive people to 546 00:40:57.039 --> 00:41:00.159 public schools, which will make public schools stronger, leave it or not that 547 00:41:00.360 --> 00:41:05.119 strong as privatizing this public school. Yeah, you're gonna you're gonna hear that. 548 00:41:05.320 --> 00:41:08.119 You're gonna hear that a lot. Yeah. Mexico reported their twenty twenty 549 00:41:08.159 --> 00:41:13.679 three GDP growth. Do you understand Mexico is booming right now? I can 550 00:41:13.719 --> 00:41:16.519 see the economy in Mexico's booming. I don't know why everybody's leaving, It's 551 00:41:16.639 --> 00:41:22.719 uh, things are going pretty well. The GDP growth last year was three 552 00:41:22.719 --> 00:41:28.400 point two percent. The United States was two point five percent. Mexico is 553 00:41:28.440 --> 00:41:31.360 now the twelfth largest economy in the world. They're also one of the main 554 00:41:31.440 --> 00:41:37.920 buyers of natural gas from the United States. Because things are cranking uh, 555 00:41:38.000 --> 00:41:40.800 A lot of people are realizing, as we've been saying on the show for 556 00:41:40.920 --> 00:41:46.000 years, that if we can manufacture things in Mexico cut the cost, we 557 00:41:46.039 --> 00:41:51.920 can do them cheap dramatically, dramatically then China. And there's a lot of 558 00:41:51.960 --> 00:41:54.840 that going on. Not enough, more and more is gonna happen, but 559 00:41:54.960 --> 00:41:59.800 Mexico could clearly turn into one of the strongest economies around. I wonder if 560 00:41:59.840 --> 00:42:04.960 that. I mean, obviously it plays into why China's economy is just stalling 561 00:42:05.079 --> 00:42:08.760 right now. China's economy and stock market is it's unbelievable, and of course 562 00:42:08.760 --> 00:42:13.760 they're Their big problem has been the real estate bubble. Almost every one of 563 00:42:13.800 --> 00:42:19.320 their private developers has now gone under. The Chinese stock market is at a 564 00:42:19.360 --> 00:42:22.440 five year low, five year low. The Hong Kong stock market, the 565 00:42:22.480 --> 00:42:28.639 Hangsing is at a fifteen year low. Oh it, it's been fifteen years. 566 00:42:29.239 --> 00:42:32.719 So when we talk about China struggling, it's a mighty struggle. What 567 00:42:32.760 --> 00:42:36.440 did they just do to their market that they're they're coming out with like a 568 00:42:36.440 --> 00:42:39.440 stimulus package or something of this. Right, They announced last week a two 569 00:42:39.480 --> 00:42:46.119 hundred and seventy eight billion dollar stimulus package that's being proposed. They also cut 570 00:42:46.119 --> 00:42:52.280 bank reserve requirements. There. They're doing everything they can do to stimulate the 571 00:42:52.320 --> 00:42:58.280 economy, but until the real estate bubble works its way through, which can 572 00:42:58.320 --> 00:43:01.639 take years, I don't know. Second, world's second largest economy, and 573 00:43:01.719 --> 00:43:06.679 that the United States is cranking along without any help from the world's second largest 574 00:43:06.679 --> 00:43:09.599 economy is kind of going through what we went through right after we lifted all 575 00:43:09.599 --> 00:43:14.440 the lockdowns or whatever. Because we didn't go back to it. China had 576 00:43:14.440 --> 00:43:16.079 in lockdowns like another year and a half. So now they're going through that 577 00:43:16.119 --> 00:43:22.360 issue. That was a huge mistake to lockdown again, and nobody wanted to 578 00:43:22.480 --> 00:43:24.920 now, but you can't lock the economy down well. In a couple of 579 00:43:24.960 --> 00:43:29.320 the universities back East decided to go back to mask mandates a couple of months 580 00:43:29.320 --> 00:43:32.519 ago. That hospitals the just blew up. Yeah, just don't force on 581 00:43:32.559 --> 00:43:36.559 everybody. I want to wear a mask. You can't watch TV without seeing 582 00:43:36.599 --> 00:43:40.840 fires. Are trying to advertise the vaccine or plaques o BID, which is 583 00:43:40.840 --> 00:43:45.280 the tree Travis Kelsey twenty million. They paid him twenty million dollars. I 584 00:43:45.360 --> 00:43:50.280 was about to say leaving alone, Travis Kelsey twenty million, twenty million bucks 585 00:43:50.320 --> 00:43:52.079 to get on there and say you got two shots, right, yep, 586 00:43:52.239 --> 00:43:57.840 the flu in the in the COVID shot. Ten year treasury and the two 587 00:43:57.880 --> 00:44:00.920 year treasury. We still have an inverted yield. That's the one last thing 588 00:44:00.960 --> 00:44:05.159 we keep waiting for for, you know, goldilocks to be really pretty. 589 00:44:05.199 --> 00:44:07.360 It's been like two years, not right, yeah, yeah, very close 590 00:44:07.400 --> 00:44:10.199 to two years, Dylan. That's a good, good catch. Ten year 591 00:44:10.239 --> 00:44:15.440 treasury four point one six, two year treasury four point three six. That's 592 00:44:15.480 --> 00:44:19.679 backwards. We're close, and then we're getting close again. An inverted yield 593 00:44:19.719 --> 00:44:23.320 curve points to recession. So we'd like to see the yield curve right itself, 594 00:44:23.840 --> 00:44:28.760 which would officially delaybor. Say Oil, I've got a bid this week. 595 00:44:29.000 --> 00:44:31.559 Really three dollars again too, really Prompts still have those problems in the 596 00:44:31.599 --> 00:44:35.639 red Sea. Yeah, but they were there before, and it seems like 597 00:44:35.719 --> 00:44:37.239 you couldn't give it away. I mean, oil looked like it was on 598 00:44:37.519 --> 00:44:40.840 a death spiral to fifty, you know, but it did pick up some 599 00:44:40.880 --> 00:44:44.800 steam this week ended at seventy eight, which was up four and at four 600 00:44:44.840 --> 00:44:49.280 and three quarter dollars. Gold Down ten Bucks finished at twenty sixteen on the 601 00:44:49.320 --> 00:44:52.920 week, So that point on oil, Dave, Yeah, we had back 602 00:44:52.920 --> 00:44:55.400 real quick. Global container shipping rates have surge one hundred and twenty two percent 603 00:44:55.559 --> 00:45:00.320 since November of twenty three, driven by delays and rerouting from the red See 604 00:45:00.320 --> 00:45:05.039 the composite rate for a forty foot container increase seven hundred and five dollars a 605 00:45:05.039 --> 00:45:07.000 week over week. Boy, I'll tell you so that we're back to that 606 00:45:07.079 --> 00:45:12.079 supply chain stuff again, and there's the uncertainty of getting things here, and 607 00:45:12.480 --> 00:45:15.440 all the more reason to have things made in Mexico. I agree with it, 608 00:45:15.519 --> 00:45:19.119 right, all the more reason to think. I think the big headline 609 00:45:19.159 --> 00:45:23.760 this week was twofold. The Personal Consumption Index, which is the Fed's favorite 610 00:45:23.760 --> 00:45:28.760 barometer of inflation, was only up two tenths of a percent last month, 611 00:45:29.320 --> 00:45:31.719 two point nine percent year over You remember when they started this whole thing, 612 00:45:32.079 --> 00:45:36.440 it was nine percent and their goal was to get it down to two. 613 00:45:36.639 --> 00:45:38.960 We're pretty darn close. Indeed, we're pretty darn close. And I think 614 00:45:39.599 --> 00:45:44.840 I got to get a shout out to Sebastian here. Right before the Iowa 615 00:45:44.960 --> 00:45:50.760 primary, you said that if Trump wins, it might cause a little pop 616 00:45:50.840 --> 00:45:54.400 in the Trump social media. I have some notes on this one, so 617 00:45:54.760 --> 00:45:57.880 talk about it. Yeah, I forgot about a man half. For people 618 00:45:57.920 --> 00:46:00.199 that don't know the digital world, I was Usition Corp. D Whack is 619 00:46:00.199 --> 00:46:05.239 a speck, a special purpose acquisition corporation. This is set to merge with 620 00:46:05.280 --> 00:46:08.639 Donald Trump's media and technology technology group, which is behind the truth Social app. 621 00:46:09.280 --> 00:46:13.199 True Social is kind of like a Twitter or x if you will, 622 00:46:13.440 --> 00:46:16.320 if you don't know what that is. Stock spiked eighty eight percent to nineteen 623 00:46:16.360 --> 00:46:20.440 month highs on Monday alone. That was eighty eight percent on Monday. This 624 00:46:20.599 --> 00:46:23.199 is that after you told us we should buy this because if Trump wins Eyeway, 625 00:46:23.199 --> 00:46:25.679 it might jump. Well, this was yeah. And then obviously I 626 00:46:25.719 --> 00:46:29.639 didn't know DeSantis was going to drop out of the race, but everybody looked 627 00:46:29.639 --> 00:46:30.679 at me silly on Friday, so I said, you know what, let 628 00:46:30.719 --> 00:46:35.000 me just put it on by that. That didn't help. Santas made it. 629 00:46:35.159 --> 00:46:37.719 No, it went up eighty eight percent on Mondays. Yes, okay, 630 00:46:38.559 --> 00:46:42.639 when he beat Haley. It didn't do it right, that's dropped. 631 00:46:44.119 --> 00:46:47.480 It's extremely volatile people, extremelyolatile. And what I have there is, as 632 00:46:47.519 --> 00:46:50.920 we know, stocks don't go straight up, and surgeon price seems to be 633 00:46:50.960 --> 00:46:55.239 purely fueled by momentum and Trump's political success, not fundamentals. Stock came back 634 00:46:55.440 --> 00:46:59.440 down to earth following Trump's win in New Hampshire, which put the stop to 635 00:46:59.480 --> 00:47:02.320 this trend. Uh tread carefully. Yeah, I just wanted to give you 636 00:47:02.360 --> 00:47:06.760 a shout out. Uh. You know in this office, we uh in 637 00:47:06.840 --> 00:47:08.679 every brokerage office. You know, you'll you'll got well, you'll try this, 638 00:47:08.760 --> 00:47:12.440 try that. And when you came out and said that, look and 639 00:47:12.519 --> 00:47:15.840 go god that that looks like it's just dead money. Why would it? 640 00:47:15.840 --> 00:47:20.440 Why would anybody mess with this? But sure enough the Sunday Dessantis came out 641 00:47:20.480 --> 00:47:22.000 and dropped out of the race, which I think, of course makes it 642 00:47:22.039 --> 00:47:27.559 a Biden Trump uh contest. Again, that's pretty that's pretty much set now. 643 00:47:27.760 --> 00:47:30.800 And UH come in the next day and I stock it and it nearly 644 00:47:30.840 --> 00:47:34.559 doubled the day after you hit. It's like when it first went public. 645 00:47:34.719 --> 00:47:37.280 Oh yeah, it was amazing. Even after it's twenty five percent drop, 646 00:47:37.320 --> 00:47:38.880 it's still up one hundred over one hundred percent in the last month. It's 647 00:47:38.920 --> 00:47:43.719 amazing, ridiculous. It calls a bashed in Borsini. We'll be back with 648 00:47:43.800 --> 00:47:46.119 the second half of the Money Meta Show right after this message. Thanks again 649 00:47:46.159 --> 00:48:00.360 for joining us. It's only a welcome back to the secon An Hour, 650 00:48:00.440 --> 00:48:04.239 The Moneymatter Show. I'm Dylan Greenberg. I'm here with Sebastian Borsini, Dean 651 00:48:04.280 --> 00:48:07.400 Greenberg, and Dave Sherwood. For those that you just tuning in too, 652 00:48:07.440 --> 00:48:09.920 it's having fun over in California with a great grandma, ninety seven year old 653 00:48:09.960 --> 00:48:15.239 great grandmother having her birthday. Yep. But for those of you turning it 654 00:48:15.280 --> 00:48:17.599 into the Dow was up point six percent for the week. The SMP five 655 00:48:17.679 --> 00:48:22.400 hundred was up one point one the NAZAC was up point nine percent. The 656 00:48:22.480 --> 00:48:25.039 Russell two thousand led the week, which is a small cap at one point 657 00:48:25.039 --> 00:48:29.239 eight percent. It was up that much. An RSP the equal way to 658 00:48:29.440 --> 00:48:32.840 SMP five hundred was up one point one percent or for the week. The 659 00:48:32.880 --> 00:48:37.079 one thing I think, the one word to describe this market is resilient. 660 00:48:38.599 --> 00:48:43.280 It tried a couple of times during the week to shell off and they're just 661 00:48:43.599 --> 00:48:46.639 wasn't a lot of interest on the downside, and there really wasn't even Friday 662 00:48:46.840 --> 00:48:50.519 an open mix. There's kind of flat and then it jump and then it 663 00:48:50.559 --> 00:48:52.719 just jumped up a lot. At one point, I think S and P. 664 00:48:52.800 --> 00:48:54.880 It was down with twelve thirteen fourteen points at one point on Friday, 665 00:48:54.880 --> 00:49:00.280 and they came back close flat like all was going to the week and it 666 00:49:00.679 --> 00:49:02.320 don't really care, you know, a yeah, and those you're just tuning 667 00:49:02.360 --> 00:49:06.880 in. And all three indicies hit all time house but Dows over thirty eight 668 00:49:06.920 --> 00:49:10.400 thousand, Nasdak's over fifteen thousand, five hundred, SMP's almost five pounds. 669 00:49:12.000 --> 00:49:15.320 And I was a broker when they now hit in one thousand for the first 670 00:49:15.320 --> 00:49:19.119 time. So when you whenever you see the market drop, you want to 671 00:49:19.159 --> 00:49:22.920 look for what you should be buying. Same with real estate. When the 672 00:49:22.920 --> 00:49:24.400 real estate market tanks, what do you do, you know, just run 673 00:49:24.440 --> 00:49:28.440 out and tell your house you go buy another house. Yeah, And by 674 00:49:28.480 --> 00:49:30.400 doing that, take advantage of some profits you have if you want to. 675 00:49:30.519 --> 00:49:34.280 If you have no cash right now, let me look to take some profits 676 00:49:34.320 --> 00:49:37.119 off something that's jumped up a lot over the last few weeks, month, 677 00:49:37.239 --> 00:49:40.480 or whatever it is. If you have a lot of you're over really overweight 678 00:49:40.880 --> 00:49:44.760 in a certain eta and a certain stock, you know, you look to 679 00:49:44.800 --> 00:49:47.199 take some profit. We reduce to our market exposure. I think three to 680 00:49:47.199 --> 00:49:50.840 five percent of last week. I'm not a big deal. We're still in. 681 00:49:51.199 --> 00:49:52.480 If it keeps going, we'll be doing just fine. Yeah. And 682 00:49:52.480 --> 00:49:55.280 if you're in an IRA really that you don't really have to even worry about 683 00:49:55.280 --> 00:49:59.360 capital gains tax or anything like that. If you have a regular taxable broker's 684 00:49:59.360 --> 00:50:01.239 account. That is thing to keep in mind. If you have a large 685 00:50:01.440 --> 00:50:05.719 game and you sell all of it because you just want to take it all, 686 00:50:05.719 --> 00:50:07.159 you're gonna have to deal with the taxes on that. We've been saying 687 00:50:07.199 --> 00:50:10.480 over the last few weeks that we thought twenty twenty four would be more about 688 00:50:10.559 --> 00:50:15.719 value and less about the Magnificent seven or the super six, whatever you want 689 00:50:15.719 --> 00:50:20.480 to call it now, and that has turned out simply not to be true. 690 00:50:20.559 --> 00:50:25.039 Yet. January was a was a carbon copy really of December, with 691 00:50:25.199 --> 00:50:31.360 the tech stocks leading the way and the more representative equal weighted S and P 692 00:50:31.480 --> 00:50:36.880 five hundred lagging. In fact, with the Nasdaq up three percent, the 693 00:50:36.920 --> 00:50:39.440 S and P five hundred, the NASDAK, the Dow All setting new all 694 00:50:39.519 --> 00:50:45.840 time record highs, the equal weighted s and P five hundred is down for 695 00:50:45.920 --> 00:50:49.679 the year, just two tenths of a percent, but still it's down for 696 00:50:49.760 --> 00:50:53.000 the year. It just it's just kind of one of those odd things. 697 00:50:53.519 --> 00:50:58.199 It's just nvidios. Still it's ridiculous. Yeah, no, it were six 698 00:50:58.239 --> 00:51:01.039 hundred dollars a share. It is just a couple of deadlines for you. 699 00:51:01.159 --> 00:51:04.800 I know, this time of the year, everybody's thinking about taxes and doing 700 00:51:04.800 --> 00:51:07.679 the taxes, and I can't wait to get my ten ninety nine and what 701 00:51:07.800 --> 00:51:08.960 am I going to get my ten ninety nine R? And what am I 702 00:51:09.000 --> 00:51:13.599 going to get my K one. There's a couple of deadlines. The ten 703 00:51:13.719 --> 00:51:16.519 ninety nine R, which is from retirement accounts, any withdrawals you made from 704 00:51:16.519 --> 00:51:22.119 retirement accounts, whether it be your required minimum distribution or just took money out 705 00:51:22.199 --> 00:51:27.159 to do something. The deadline to have those in the mail is January thirty 706 00:51:27.159 --> 00:51:30.719 first. Now, if you have online access, many of the firms have 707 00:51:30.840 --> 00:51:34.800 them online right now. But if you're going to wait for it to come 708 00:51:34.840 --> 00:51:37.800 in the mail, the deadline to have those mail is January thirty first. 709 00:51:37.159 --> 00:51:42.079 The ten ninety nine, which is the one that almost everybody is waiting for 710 00:51:42.960 --> 00:51:49.039 about six or seven years ago. The brokerage industry convinced the IRS that if 711 00:51:49.079 --> 00:51:53.119 they would allow the brokerage industry to have two more weeks, it would dramatically 712 00:51:53.159 --> 00:51:59.119 cut down on the amended ten ninety nine. Remember the clearing firm that your 713 00:51:59.119 --> 00:52:04.840 broker works with issues the ten ninety nine based upon information provided from outsiders, 714 00:52:05.320 --> 00:52:08.599 and that information can be adjusted actually from up to five years. But this 715 00:52:09.079 --> 00:52:15.039 was not unusual back in the day. To the middle of February, end 716 00:52:15.079 --> 00:52:19.159 of February, get an amended ten ninety nine and maybe you'd already filed your 717 00:52:19.159 --> 00:52:22.079 taxes. You don't know what am I supposed to do now? And file 718 00:52:22.119 --> 00:52:25.800 amended return. So the IRS allowed the brokerage industry to have two more weeks. 719 00:52:25.840 --> 00:52:30.840 So you're ten ninety nine from your brokerage account. The deadline to have 720 00:52:30.960 --> 00:52:37.679 those sent out is February fifteenth. The deadline for k once March fifteenth, 721 00:52:37.199 --> 00:52:40.639 so you've got just just be patient. You can go ahead and get your 722 00:52:40.920 --> 00:52:45.159 March appointment with your with your tax guy, but just be patient. Also, 723 00:52:45.199 --> 00:52:49.760 if you have not filed your taxes yet, you can still contribute to 724 00:52:49.840 --> 00:52:52.159 an IRA orth IRA for twenty twenty three if you did not max out last 725 00:52:52.239 --> 00:52:54.039 year, but you want to try and max out this year, or just 726 00:52:54.079 --> 00:52:59.039 put more to your accounts. You can still contribute for twenty twenty three up 727 00:52:59.119 --> 00:53:02.880 until you fire your tax and you can also get tax credits. That's what 728 00:53:06.400 --> 00:53:09.840 tax credits for twenty four though for for twenty three if you get it in 729 00:53:09.880 --> 00:53:16.159 before April fifteenth. Tax credits on public schools, private schools. We're just 730 00:53:16.199 --> 00:53:19.639 talking about that, thinks. Yeah, Katie Hobbs is going to do away 731 00:53:19.679 --> 00:53:25.960 with Yeah. Yeah, what she wants to do is is UH is changed 732 00:53:25.960 --> 00:53:30.280 the UH not give so many vouchers away. No, she wants you to 733 00:53:30.280 --> 00:53:35.320 eliminate the tuition tax credit period page nine of the budget. It's not gonna 734 00:53:35.320 --> 00:53:42.039 happen, so anyway we'd would One thing. I've been noticing the number of 735 00:53:42.119 --> 00:53:45.559 layoffs. Have you seen it? Not a day goes by we don't hear 736 00:53:45.559 --> 00:53:49.800 about some major company laying off one thousand, fifteen hundred two thousand people. 737 00:53:49.880 --> 00:53:52.199 Yeah. I mean the one that made the most sense I saw last week 738 00:53:52.239 --> 00:53:55.320 was Microsoft. They laid off nineteen hundred employees from their gaming division, which 739 00:53:55.360 --> 00:54:00.000 was about nine percent of that total division. And that's because of that acquisition 740 00:54:00.079 --> 00:54:04.760 and from they acquired Activision Blizzard. Yeah, and now they're bringing over Activision 741 00:54:04.760 --> 00:54:07.559 Blizzard employees, so they're going to put them in there, which I mean, 742 00:54:07.599 --> 00:54:09.159 I think that's one of the best acquisitions they had. Of sixty nine 743 00:54:09.199 --> 00:54:13.679 billion dollars. It was their largest one by far, more than Double LinkedIn, 744 00:54:13.719 --> 00:54:15.920 which was their largest one previously. You know what I mean. In 745 00:54:15.960 --> 00:54:21.280 twenty twenty three, companies laid off a total of seven hundred thousand workers. 746 00:54:21.599 --> 00:54:25.559 That's one hundred and fifteen percent increase over twenty twenty two and the highest since 747 00:54:25.599 --> 00:54:30.199 twenty twenty. Job openings fell to more than two and a half year low. 748 00:54:30.320 --> 00:54:34.559 Remember how we couldn't find employees. Not the case anymore. Job openings 749 00:54:34.599 --> 00:54:37.760 two and a half year low. Layoff announcements have continued. In twenty twenty 750 00:54:37.760 --> 00:54:42.599 four, I pulled up a list of the layoffs that have taken place in 751 00:54:42.599 --> 00:54:45.360 the last twelve months. It was it was fourteen pages long. Dave, 752 00:54:45.559 --> 00:54:50.960 this is what I don't understand where the market is. The economies could but 753 00:54:51.159 --> 00:54:57.599 jobs are starting to open, which means people aren't working. I don't know 754 00:54:57.639 --> 00:55:00.199 what it is. I don't need it, but you know, the job 755 00:55:00.239 --> 00:55:01.639 opening just two and a half year low. Yeah, no, not a 756 00:55:01.719 --> 00:55:05.840 lot of people looking for people. They just got out. I don't know 757 00:55:05.920 --> 00:55:07.639 what's going on. Yeah, no one's looking for jobs. It's slowing down, 758 00:55:08.199 --> 00:55:10.159 but the markets keep making new home. I mean, if you're in 759 00:55:10.239 --> 00:55:13.599 these tech companies, they might give you a good severance package. They're not 760 00:55:13.679 --> 00:55:16.119 really gonna actively look for a job right away because I know Microsoft, those 761 00:55:16.159 --> 00:55:20.360 people that were laid off, they give them a great severance package, so 762 00:55:20.480 --> 00:55:22.239 they might just take a few months off, just stop looking for work. 763 00:55:22.239 --> 00:55:27.079 I don't know, well, but I don't. I don't trust those numbers. 764 00:55:27.119 --> 00:55:30.320 They I don't trust anything anymore. It's been showing us that, you 765 00:55:30.400 --> 00:55:32.719 know what, they can manipulate anything and everything they want. And who cares 766 00:55:32.960 --> 00:55:36.760 because down in two months from now, they can redo the numbers the way 767 00:55:36.760 --> 00:55:39.000 they want them. It's revised, and then nobody pays an attention to what 768 00:55:39.039 --> 00:55:43.679 the revised was. It's just so d I'm gonna we're gonna take a trip 769 00:55:43.719 --> 00:55:46.599 to the ev Garage because I know it's Dean's favorite segment, and h he'll 770 00:55:46.679 --> 00:55:50.960 he'll like to like to hear about this, right, I can't wait to 771 00:55:51.679 --> 00:55:55.039 iv Oh, let's see Ford has cut their production on it. Tesla's earnings 772 00:55:55.039 --> 00:56:00.639 weren't as good. Uh, they're worried about the going forward and who wants 773 00:56:00.679 --> 00:56:02.719 to buy cars. Jaz Ferry never said the ev garage is only good news. 774 00:56:04.360 --> 00:56:07.119 I started, okay, listen up. I started this segment about six 775 00:56:07.199 --> 00:56:13.960 months ago for educational purposes, right, and part of that education is talking 776 00:56:14.119 --> 00:56:16.960 about what I'm going to talk about today, and that's problems with electric cars. 777 00:56:17.480 --> 00:56:22.440 That's what wanna talk about today. Let's face it. We got involved 778 00:56:22.480 --> 00:56:25.280 with it because you were very interested and you got one, so you'll put 779 00:56:25.320 --> 00:56:28.960 your money where your mouth is. You wanted to see what it was all 780 00:56:29.000 --> 00:56:30.719 about. You wanted to see the good and the bad. And you've been 781 00:56:30.719 --> 00:56:34.599 honest about it both times, both plays. Thank you. So here's the 782 00:56:34.679 --> 00:56:37.760 bads right about an electric car. First of all, is cost. The 783 00:56:37.880 --> 00:56:42.280 cost of electric cars high. That's why there's so many haters out there when 784 00:56:42.320 --> 00:56:46.000 it comes to electric cars. They see it as a rich person's toy range. 785 00:56:46.599 --> 00:56:50.480 It's a great around town car, but taking it on the road is 786 00:56:50.639 --> 00:56:52.559 more work than I'm willing to put in. You have to plan, you 787 00:56:52.639 --> 00:56:55.960 have to be willing to set for forty five minutes to an hour to charge. 788 00:56:58.199 --> 00:57:01.480 It's just too much work. Spare tire. They don't have spare tires. 789 00:57:01.599 --> 00:57:05.920 Although this is interesting. In preparing this piece, Dan, this is 790 00:57:06.000 --> 00:57:10.280 wild, I learned that thirty percent of new gasoline powered cars do not have 791 00:57:10.360 --> 00:57:15.800 spare tires. Must have started something here and I don't like it. I 792 00:57:15.800 --> 00:57:19.199 don't understand why you don't have that in they save money thirty percent. Yeah, 793 00:57:19.480 --> 00:57:22.920 you might have Wait, it's you can get to spare tire in most 794 00:57:23.000 --> 00:57:28.679 places as an option, as a not on pay extra right. Reliability is 795 00:57:28.719 --> 00:57:31.880 a problem. EV's have twice as many problems as gasoline powered cars. Full 796 00:57:31.960 --> 00:57:37.079 disclosure. Tesla is an exception. New technology is often a work in progress. 797 00:57:37.159 --> 00:57:42.480 But Tesla's been doing this for sixteen years. Most other guys sixteen minutes. 798 00:57:42.519 --> 00:57:45.119 You know it that you have, that you're having problems shouldn't be a 799 00:57:45.199 --> 00:57:52.159 shock. Public charging infrastructure, far inferior to gasoline stations, take time. 800 00:57:52.239 --> 00:57:57.480 It takes to fill up dramatically longer. You have to have a home charger. 801 00:57:57.679 --> 00:58:00.639 That's a thousand bucks roughly, But you've got to have home charger if 802 00:58:00.679 --> 00:58:05.960 you're gonna have electric vehel learning curve learning curves does not exist with gasoline par 803 00:58:06.079 --> 00:58:08.239 vehicles. We all know how to operate those right. Hard to jump in 804 00:58:08.360 --> 00:58:13.480 and take off with an electric car without some type of a tutorial. I've 805 00:58:13.519 --> 00:58:20.280 had mine for seven months and I'm still learning. Lastly, repairs body shops 806 00:58:20.280 --> 00:58:23.679 are controlled by Tesla and they won't give the replacement parts to just anyone. 807 00:58:24.239 --> 00:58:28.079 So that's and that's going to run up the cost. It's gonna run the 808 00:58:28.159 --> 00:58:30.199 car. Well. That said, my Tesla was the most fun I've ever 809 00:58:30.239 --> 00:58:32.079 had in a car, and I may be addicted. I was going to 810 00:58:32.119 --> 00:58:36.960 say, you know what's not a problem with Tesla's speed, you had Damn. 811 00:58:37.000 --> 00:58:39.239 Sebastian had his first ride in the Tesla last week. They took me 812 00:58:39.280 --> 00:58:44.440 out on Tuesday and man, it was incredible. It's it knocks you back 813 00:58:44.440 --> 00:58:52.119 in your seat when you really go pedal to the metal Teslas. There was 814 00:58:52.159 --> 00:58:55.639 a race. There was a Tesla Roaster versus nine to eleven Porsche, and 815 00:58:55.719 --> 00:59:00.639 the Tesla Roaster was pulled another one, another nine eleven Porsche while it beat 816 00:59:00.840 --> 00:59:05.719 the house. Yeah. I was having this conversation with Todd Blake. If 817 00:59:05.760 --> 00:59:07.840 I'm looking for a car that I just want pure speed, I think I 818 00:59:07.960 --> 00:59:10.679 might have to go with the Tesla. I don't what else beats it? 819 00:59:12.039 --> 00:59:15.239 No, there's nothing beats it in I'm never I'm never challenged at a light 820 00:59:15.360 --> 00:59:19.360 anymore, whether it's a Carvette, Maderati, whatever, they don't challenge you 821 00:59:19.760 --> 00:59:22.719 at all. Oh what were you challenge before? Oh? I was challenged 822 00:59:22.719 --> 00:59:25.199 plenty, buddy, I was challenged plenty of There's no way I pull up 823 00:59:25.199 --> 00:59:29.719 to light. Go Okay, this guy wants to write some racing because you 824 00:59:29.800 --> 00:59:30.760 beat him, they might kill you. If you don't beat them, they 825 00:59:30.800 --> 00:59:34.039 might kill you. Who knows what's going to happen. I just ignore. 826 00:59:34.599 --> 00:59:37.559 But you don't think you buy a Maserati or a Porsche because they're fast. 827 00:59:37.880 --> 00:59:39.599 You don't think that's the part of the part of the I buy cars that 828 00:59:39.679 --> 00:59:45.920 I can fit in. Okay, I like them fast, all right, 829 00:59:45.280 --> 00:59:51.639 they like fast cars anyway. I like smooth cause if you are going ninety 830 00:59:51.760 --> 00:59:53.559 or ninety five one hundred, which you don't really should be doing, you 831 00:59:53.639 --> 00:59:57.159 don't even realize it and you have to pull back because it's just smooth, 832 00:59:57.360 --> 01:00:00.760 can't. What's the quietest car you've ever ridden in Sebastian? Probably the Tesla, 833 01:00:00.039 --> 01:00:04.880 Definitely the Tesla. Yeah, no, no, no engine nise no 834 01:00:05.039 --> 01:00:07.760 kidding weird, Yeah, no, it is. Listen, I was driving 835 01:00:07.800 --> 01:00:12.239 one they gave me a many years ago, even before it got hot on 836 01:00:12.320 --> 01:00:15.800 the CV they gave me. Uh, I had a Panama and they so 837 01:00:15.920 --> 01:00:19.039 I had mine was in so they gave me. Said all we have was 838 01:00:19.079 --> 01:00:22.559 the electric one for you. Okay, I never knew the call was on. 839 01:00:22.320 --> 01:00:25.239 Yeah, I hated it. Well, it's not on really unless you're 840 01:00:25.320 --> 01:00:29.599 driving it. You press the thing. I had no idea. At least, 841 01:00:29.639 --> 01:00:32.119 when you turn on a car, you get you hear it. I 842 01:00:32.320 --> 01:00:37.039 like it when you don't have it and you go, Okay, what's going 843 01:00:37.079 --> 01:00:39.880 on here? Am my car on? Is it not on? It's definitely 844 01:00:40.000 --> 01:00:44.519 learning. Well yeah, but you know you with the electric car, you 845 01:00:44.559 --> 01:00:46.480 put your foot on the brake and the screen lights up and you're ready to 846 01:00:46.519 --> 01:00:50.519 go. I mean it's that simple. There's no on button or off button. 847 01:00:51.079 --> 01:00:52.960 But the funniest thing when I when I drive my wife's car, uh, 848 01:00:53.519 --> 01:00:58.320 we take that to California because again it's a hassle to take the electric 849 01:00:58.400 --> 01:01:00.119 out on the road. So we take my wife's card. At California, 850 01:01:00.719 --> 01:01:05.280 we got we got to heal a bend and stop for a bathroom break. 851 01:01:05.519 --> 01:01:07.320 I get out of the car and go in, and she goes, are 852 01:01:07.360 --> 01:01:09.920 you gonna shut it off? I go, oh, I forgot, because 853 01:01:09.920 --> 01:01:14.360 you don't shut off an electric car. You close the door lock and it's 854 01:01:14.400 --> 01:01:16.440 off. There's no button. No, there's no on off button. No. 855 01:01:16.639 --> 01:01:20.280 You when you get out of the car, you put your foot on 856 01:01:20.320 --> 01:01:22.760 the brake, and then the screen lights up and you're good to go. 857 01:01:22.960 --> 01:01:24.480 No. I think what I think is neat is when you're driving it and 858 01:01:24.559 --> 01:01:28.079 you take your foot off the pedal, it just almost brings you. It's 859 01:01:28.119 --> 01:01:30.280 a complete stop. And we talked about that early on the show or a 860 01:01:30.320 --> 01:01:34.360 couple of weeks back, about how this could be a good safety feature for 861 01:01:34.440 --> 01:01:37.119 older people if somebody has a stroke or something behind the wheel, at least 862 01:01:37.159 --> 01:01:40.920 the car will come to a stop. Yeah. The we'recoming braking is very 863 01:01:40.960 --> 01:01:45.559 cool and it takes some getting used to again learning curve. The first couple 864 01:01:45.599 --> 01:01:47.079 of days you have an electric vehicle, it's going to be pretty jerky, 865 01:01:47.760 --> 01:01:52.360 But then once you finally figure it out, it's really cool. On the 866 01:01:52.440 --> 01:01:55.599 brakes. Are the brakes are warranted for life? Dan warranted for life. 867 01:01:55.679 --> 01:01:59.320 Could you don't use them? That's cool, kind of cool. Huh. 868 01:02:00.159 --> 01:02:01.960 Let's move on. So let's talk a little bit about buoying, because we 869 01:02:02.079 --> 01:02:05.440 talked about that on the show. Right, we've talked about that a lot. 870 01:02:06.079 --> 01:02:08.079 We thought there might be some buying interest under two hundred. There was, 871 01:02:08.360 --> 01:02:12.800 and it dropped a two hundred and banged back to two fifteen. But 872 01:02:12.920 --> 01:02:15.679 we also urged caution and we said, these things do tend to take time 873 01:02:15.800 --> 01:02:20.039 to work themselves out. And what's happening. It's taking time to work these 874 01:02:20.119 --> 01:02:22.880 out. Well, Southwest Airlines go ahead, don't. Well what the FAA 875 01:02:22.039 --> 01:02:25.639 said, they can. They're about to be able to resume the flying of 876 01:02:25.760 --> 01:02:30.519 the grounded current grounded Max nines, right, but they're not letting them increase 877 01:02:30.559 --> 01:02:34.840 their production of the plane. Well, Southwest said, we're not interested in 878 01:02:34.840 --> 01:02:37.679 anymore right now. Yeah, you know this is this is not good. 879 01:02:38.480 --> 01:02:42.280 If you're a boy, I just don't what it's like there is again, 880 01:02:42.360 --> 01:02:45.599 it's because they knew what was going on. They just put in production the 881 01:02:45.639 --> 01:02:47.800 first time. It's now you feel like they know what's going on. It's 882 01:02:47.800 --> 01:02:50.639 like, yeah, I we'll just deal with it when it happens. Because 883 01:02:50.639 --> 01:02:53.400 they'll just figure it out and pay it off or whatever. It's just fixing 884 01:02:53.400 --> 01:02:57.719 it and taking the time to fix it all. It's just an example of 885 01:02:58.079 --> 01:03:02.320 a of a typically dean. When a stock drops big like that, don't 886 01:03:02.440 --> 01:03:07.639 try to catch a falling knife. That's that's right, that's Tesla. Tesla 887 01:03:07.760 --> 01:03:09.920 is that? Yeah, Tesla right now. I had some calls that wanted 888 01:03:09.920 --> 01:03:13.320 to buy Tesla Soul, we buy Tesla right away, and I'm like, 889 01:03:13.480 --> 01:03:15.679 well, hold off a little bit here, see how it all comes out. 890 01:03:15.800 --> 01:03:19.599 And I said, I'm actually looking for places to maybe take some money 891 01:03:19.639 --> 01:03:22.880 off the table. I mentioned earlier that in January of twenty twenty three, 892 01:03:23.239 --> 01:03:27.599 a year ago, it was one on one. Was one on one, 893 01:03:27.679 --> 01:03:29.519 Oh, I know, and it ran all the way up to what was 894 01:03:29.599 --> 01:03:32.039 it three hundred or something, h four hundred? Yeah, did you get 895 01:03:32.039 --> 01:03:36.840 to four hundred? I don't know. I don't think it doesn't matter. 896 01:03:37.000 --> 01:03:39.639 I'm talking about within the last twelve months. Oh gotcha, and it's falling 897 01:03:39.679 --> 01:03:43.320 again. But yeah, that's the one thing we've learned in this business. 898 01:03:43.320 --> 01:03:46.239 Stocks drop, don't go in and buy them right away. And their business 899 01:03:46.400 --> 01:03:51.920 is not good right now? Okay, their business is not good yes, 900 01:03:52.000 --> 01:03:54.400 they make the best electric car out there. There is demand for electric cars, 901 01:03:54.440 --> 01:03:58.559 but the demand is slowing down. Let's take it on the other side. 902 01:03:59.000 --> 01:04:00.880 Raytheon came all way down. Let's talk about that. It came all 903 01:04:00.880 --> 01:04:05.000 the way down. Target came all the way down. Once they settled down 904 01:04:05.039 --> 01:04:09.559 there for a while and people forget everything the good byes. Target went from 905 01:04:09.599 --> 01:04:16.280 basically one ten to Raython was down about seventy second six, it's back to 906 01:04:16.360 --> 01:04:19.280 eighty five. I still think it's got more upside. It broke ninety last 907 01:04:19.360 --> 01:04:23.239 week. Yeah, it broke above ninety. But last week briefly and uh 908 01:04:23.440 --> 01:04:28.079 and then was the other one, Disney went all the way down to what 909 01:04:28.280 --> 01:04:30.719 was it seventy eight or something, and it's back over ninety. All right, 910 01:04:30.840 --> 01:04:35.079 So look for opportunities. There's always gonna be opportunities if you are patient. 911 01:04:35.840 --> 01:04:39.800 Disney seems to be getting a bid now right now. It seems to 912 01:04:39.880 --> 01:04:45.400 be more favorable to people. It's because there's that proxy fight going on. 913 01:04:45.559 --> 01:04:48.159 Two of them. Yeah, who was it? I can't remember as a 914 01:04:48.199 --> 01:04:53.079 long time. Two hedge funds or two hedge funds are involved, right, 915 01:04:53.360 --> 01:04:57.800 and that's that typically means good things because they're there for one reason only, 916 01:04:57.840 --> 01:05:00.840 and that's to enhance yourholder value. Right. But also with that saying that 917 01:05:00.880 --> 01:05:03.320 there's always an opportunity to buy stocks that come down, you want to look 918 01:05:03.320 --> 01:05:05.400 for the companies that you believe in then you think will be around for a 919 01:05:05.440 --> 01:05:09.119 long time, like a Disney, like a Raytheon, like a Boeing. 920 01:05:09.760 --> 01:05:13.199 Not those companies that, like in twenty twenty, just skyrocketed then they came 921 01:05:13.280 --> 01:05:15.800 back down. They're not going to do it again necessarily like that because they're 922 01:05:15.800 --> 01:05:19.000 fundamentals suck. So what it is is if they go back down to a 923 01:05:19.079 --> 01:05:24.360 penny stock price, is because that's their true valuation. You know what I'm 924 01:05:24.440 --> 01:05:28.239 saying. You made a great point. I should have said quality companies exactly. 925 01:05:28.599 --> 01:05:30.679 Quality companies like a Boweling is in that scenario it was down before and 926 01:05:30.679 --> 01:05:34.000 stall all the tech companies, Yeah, deserves to be a penny stock. 927 01:05:34.559 --> 01:05:38.519 It went to seventy one time. Don't think it's going to do it again. 928 01:05:38.639 --> 01:05:42.480 Same thing with game Staff. Yeah, those anomalies are outly different. 929 01:05:42.599 --> 01:05:45.079 But quality companies and we say it all the time, or quality companies you 930 01:05:45.159 --> 01:05:48.599 believe in the company, that's when you look for the opportunity to buy good 931 01:05:48.679 --> 01:05:54.280 point. I think it's also a good idea to buy buy companies. Shirt 932 01:05:54.519 --> 01:06:00.119 buy companies whose business is improving, not companies whose business is deteriorating. No 933 01:06:00.280 --> 01:06:02.320 existent, right, but if they get that, and especially if they these 934 01:06:02.400 --> 01:06:08.360 quality companies like the Boweling, the Targets, the Raytheons and uh Disneys that 935 01:06:08.480 --> 01:06:13.079 are quality, but they get knocked down for an outside reason. You know, 936 01:06:13.119 --> 01:06:15.639 they were losers. You know, one was political, one was uh 937 01:06:15.840 --> 01:06:20.400 uh Athon had a problem with one of their uh what was it their the 938 01:06:20.440 --> 01:06:27.280 engine engines. Yeah, billion dollars blowing is having problems with some of their 939 01:06:27.320 --> 01:06:30.320 planes. Uh. Tesla not sure what's going on. Well, Tesla's just 940 01:06:30.400 --> 01:06:34.400 their businesses, that's what's slowing. And it's a very expensive dock. It's 941 01:06:34.519 --> 01:06:39.320 priced for perfection, and what you have right now is not perfection. That's 942 01:06:39.320 --> 01:06:43.320 why it is probably proved to be cautious about in video because the video is 943 01:06:43.360 --> 01:06:45.800 run up like Tesla did a couple of years ago, and you didn't think 944 01:06:45.840 --> 01:06:48.800 it was ever going to come back down. But obviously TESTA except though except 945 01:06:48.920 --> 01:06:53.039 with the VIDIA and I and I and I. We had this conversation the 946 01:06:53.079 --> 01:06:58.360 other day with the VIDIA their chip is so far advanced, everyone's trying to 947 01:06:58.440 --> 01:07:00.960 catch up. I don't believe the video is sitting there saying, oh, 948 01:07:01.079 --> 01:07:04.519 what's when I don't. We don't have to worry about what's in the future. 949 01:07:04.920 --> 01:07:09.320 I believe they're always going to be in the future, which means whatever 950 01:07:09.480 --> 01:07:13.480 people get out together, that would be yesterday's chip, and they have the 951 01:07:13.880 --> 01:07:15.400 tomorrow's chip. Well that's what they've shown so far, that one that was 952 01:07:15.440 --> 01:07:19.079 ten thousand dollars, a chip that was already above and beyond what everybody else 953 01:07:19.079 --> 01:07:21.519 says. They were trying to catch up the end video's previous chip, right, 954 01:07:21.599 --> 01:07:24.880 not even the one that was saying kay that was sold out. So 955 01:07:25.400 --> 01:07:28.800 yes, I'm just saying valuation six fifty seven hundred. If you don't take 956 01:07:28.840 --> 01:07:30.000 some of the money off the table and it goes down, it's on you. 957 01:07:30.559 --> 01:07:33.039 Which I keep telling me that, I keep telling myself that, I 958 01:07:33.159 --> 01:07:35.800 keep telling me something that I want to bang my head against the wall and 959 01:07:35.840 --> 01:07:39.440 that will make sure. But right now, it's been a fun ride. 960 01:07:39.559 --> 01:07:42.360 I think the other one like that is Costco. It's just been just going 961 01:07:42.440 --> 01:07:45.840 and going and going. It's a party. Seven hundred dollars this year Costco. 962 01:07:45.280 --> 01:07:49.519 It was hanging around three eighty for months, not that long ago. 963 01:07:50.199 --> 01:07:54.360 I do want to bring up something though, if you're sophisticated enough and understand, 964 01:07:54.960 --> 01:07:57.920 like with the video, because I don't pay all those taxes until at 965 01:07:57.960 --> 01:08:00.360 least gets long term gains and stuff. Sure, some of them they have 966 01:08:00.519 --> 01:08:05.079 the inverse that you can buy as a hedge like mvds, and I've been 967 01:08:05.119 --> 01:08:10.880 doing that on short term basises. It's like insurance. The video goes up 968 01:08:10.920 --> 01:08:14.960 twenty okay, so you make twenty points. The other one might go down 969 01:08:15.000 --> 01:08:18.960 a point. So you're always going to be ahead of the game as long 970 01:08:18.960 --> 01:08:21.840 as but you have to know the correlation with it. But it's a way 971 01:08:21.920 --> 01:08:26.319 that you don't have to go ahead and pay taxes by taking money off the 972 01:08:26.359 --> 01:08:30.159 table, but protect yourself. It's an ETF that goes up when in video 973 01:08:30.239 --> 01:08:32.680 goes down. Yes, and it's a nice, a nice idea. She 974 01:08:32.800 --> 01:08:36.760 gave the Sebastian a shout out for his d WAT call. I'll give Dean 975 01:08:36.840 --> 01:08:42.079 Greenberg a shout out. We had an investment committee meeting on Wednesday, and 976 01:08:42.399 --> 01:08:45.840 Dino says, you know, I'm really starting to like IBM. What happened 977 01:08:45.880 --> 01:08:50.000 the next day. D I know it didn't go down, Dave it. 978 01:08:50.560 --> 01:08:56.479 It popped at the highest level in eleven years on better than expected quarter. 979 01:08:56.520 --> 01:08:59.640 And I wondered if I told people about it, they don't want to play 980 01:08:59.640 --> 01:09:01.760 IBA. It's so funny, you know. So that's why I'm glad we 981 01:09:01.880 --> 01:09:05.000 managed the money. Yeah, he's just sleeping. It's a sleeping giant waking 982 01:09:05.119 --> 01:09:09.039 up. But we didn't buy that much. We didn't buy that much for 983 01:09:09.640 --> 01:09:12.560 clients. It's been there, but it's one that we got to put on 984 01:09:12.600 --> 01:09:15.319 the radar now because it broke out and definitely look because that before we know 985 01:09:15.399 --> 01:09:18.439 it, it could be two hundred and fifty bucks. Maybe I'll never forget. 986 01:09:18.479 --> 01:09:23.159 I had this client in sitting in my office. This is nineteen eighty 987 01:09:23.279 --> 01:09:27.479 three, and Apple had just recently come out and their symbol, of course 988 01:09:27.600 --> 01:09:30.680 is the apple with a bite out of it. And this client sitting there 989 01:09:30.680 --> 01:09:33.199 and he goes, what's gonna happen? Is IBM's gonna eat that whole damn 990 01:09:33.239 --> 01:09:39.199 Apple. That's how big IBM they almost did. That's how big IBM w 991 01:09:40.199 --> 01:09:43.399 Apple almost folded. Brought back to Steve Jobs Yep, yep, and the 992 01:09:43.479 --> 01:09:46.319 restless history the restless history and Tim Cook has been just amazing. I saw 993 01:09:46.399 --> 01:09:51.479 this thing. That's in twenty eleven when Microsoft came out with their Windows seven 994 01:09:51.560 --> 01:09:56.359 phone, they held a funeral with some of the employees. Held the funeral 995 01:09:56.399 --> 01:09:59.760 in the streets with a big iPhone, blown up iPhone saying the iPhone is 996 01:09:59.760 --> 01:10:02.479 going to die because we came out with this same way as talking about IBM's 997 01:10:02.479 --> 01:10:08.199 gonna eat it, and then Apple just keys building and building and building boy. 998 01:10:08.359 --> 01:10:11.720 Three M continues to disappoint. One of the most disappointing dive stocks over 999 01:10:11.760 --> 01:10:15.920 the last few years, continue to disappoint, with the most recently quarter report 1000 01:10:15.000 --> 01:10:18.600 sending the stock down twelve percent at the open on two. They don't understand 1001 01:10:18.640 --> 01:10:21.000 why three M can't get out of their own way. Same price. It's 1002 01:10:21.039 --> 01:10:25.439 kind of like Intel, and it's like Cisco. You know, it's like 1003 01:10:26.279 --> 01:10:29.159 Intel is going and then all of a sudden, boom, they can't. 1004 01:10:29.199 --> 01:10:31.319 And now the backwards three M is the same price it was in two thousand 1005 01:10:31.319 --> 01:10:35.399 and seven. Yeah, wow, how that workout? You know, talk 1006 01:10:35.439 --> 01:10:40.960 about why you can't just sit and hold I don't care what they tell you, 1007 01:10:41.920 --> 01:10:45.960 right, you see where Hurt's got a downgrade by JP Morgan this past 1008 01:10:46.000 --> 01:10:50.079 week downgrade did the stock and there's been a couple of upgrades to and downgrades 1009 01:10:51.039 --> 01:10:59.800 because of their their electric vehicle strategy. This particular downgrade by JP Morgan was 1010 01:11:00.119 --> 01:11:05.520 because they believe that the failed electric vehicle strategy, calling it a failed electric 1011 01:11:05.600 --> 01:11:10.840 vehicle strategy. I'm not just maybe a little strong, but it's going to 1012 01:11:10.880 --> 01:11:14.439 cost them billions of dollars. I don't know, not everybody. You know, 1013 01:11:14.600 --> 01:11:16.520 it's hard to have a rental car with electric because if you don't, 1014 01:11:16.520 --> 01:11:19.960 nobody wants to rent them. Well you don't know about electric. And these 1015 01:11:20.000 --> 01:11:24.600 clients of mine that they that's the only car they could take, and they 1016 01:11:24.640 --> 01:11:27.039 spent an hour in the parking lite. Nobody hurts knew how to turn it 1017 01:11:27.119 --> 01:11:31.199 on. Well, you know, you get stuck someplace, who's gonna come 1018 01:11:31.359 --> 01:11:34.520 to help you? Yeah? Yeah, well I guess Hurts is going to. 1019 01:11:34.640 --> 01:11:38.399 But it's if there is a learning curve there, and that you don't 1020 01:11:38.399 --> 01:11:41.520 want a learning curve when you're renting a car. You want to be able 1021 01:11:41.560 --> 01:11:43.760 to get in and say I know this car, I know how to do 1022 01:11:43.880 --> 01:11:45.720 this. I put the shifter and gear and go all right, I know 1023 01:11:45.720 --> 01:11:50.439 where to put the gas in and you want to hear it. I'm not 1024 01:11:50.520 --> 01:11:53.960 sure. I'm not sure i'd go there. You know I'm going there. 1025 01:11:54.000 --> 01:11:56.439 I want to hear that car. I want to know what's where we're going 1026 01:11:56.520 --> 01:11:59.640 to. It's an awful it's awful nice out on the highway. I had 1027 01:11:59.640 --> 01:12:01.239 it on. I was awfully nice, very quiet, like being in a 1028 01:12:01.640 --> 01:12:04.640 like being in a glider. All right, listen to everybody. We appreciate 1029 01:12:04.680 --> 01:12:08.520 you listening. We got a couple more segments to go. I hope you 1030 01:12:08.720 --> 01:12:11.520 like it what we say. Give us a call anytime, come see us. 1031 01:12:11.600 --> 01:12:13.960 Get that financial plan done. That's the only way you're going to get 1032 01:12:14.000 --> 01:12:17.880 through the next few years. We'll be right back. Say it's only a 1033 01:12:18.159 --> 01:12:27.279 name. Welcome back, everybody mounting by the show. We got Dylan and 1034 01:12:27.359 --> 01:12:31.479 we got Sea Bastion. I'm doing all right. I'm doing and so much 1035 01:12:31.520 --> 01:12:35.039 better. Yeah, definitely, I'm not sweating through my shirt like I used. 1036 01:12:35.079 --> 01:12:38.600 Oh my god, that was horrible, and we had they show it. 1037 01:12:38.920 --> 01:12:42.119 The Sea bass is cute though. The people, especially women, like 1038 01:12:42.239 --> 01:12:45.520 that nickname for Sebastian. Ever since I was a little kid in Little league 1039 01:12:45.520 --> 01:12:48.079 baseball, that's what I've heard Sea Bass, Sea Bess. That's just what 1040 01:12:48.159 --> 01:12:51.439 they call you because that one. What's the short for Sebastian? What would 1041 01:12:51.439 --> 01:13:00.000 be some other options? Bass heard a couple as yet accent radio Sorry, 1042 01:13:03.279 --> 01:13:08.359 Sea Bass is a cute nickname. So earlier this last week we were talking 1043 01:13:08.439 --> 01:13:11.319 to Zach Nevloff comes on this radio show every once in a while. He's 1044 01:13:11.720 --> 01:13:15.439 first solar. He sales solar, and we were talking about different solar things, 1045 01:13:15.439 --> 01:13:18.760 and we're kind of figuring out y ten tan is the ETF for solar 1046 01:13:19.439 --> 01:13:24.199 and it's down forty six percent every holding in there because that Solar Edges just 1047 01:13:24.239 --> 01:13:27.880 got clobbered last year. Other companies in there are just down forty percent. 1048 01:13:28.000 --> 01:13:30.279 Yeah, and Phase Energy down forty nine percent, and you got Solar Edge 1049 01:13:30.680 --> 01:13:33.039 that was down seventy seven percent. And then as a whole, the ETF 1050 01:13:33.159 --> 01:13:38.399 is down forty six But then out of nowhere you have FSLR is up forty 1051 01:13:38.399 --> 01:13:41.000 six percent, right, Yeah, I have it. I have the numbers 1052 01:13:41.000 --> 01:13:44.560 from a year, so there's down thirteen percent, but yeah, it's outperforming 1053 01:13:44.640 --> 01:13:47.319 everything else. But FSLR was down thirteen percent for the year. Yes, 1054 01:13:47.640 --> 01:13:54.880 while the the ETF was down for the year and of course that's because of 1055 01:13:55.000 --> 01:13:59.079 higher interest rates, making that the whole solar thing that worked worked out. 1056 01:13:59.279 --> 01:14:02.119 But also we were to figure out why was First Solar or FSLR doing so 1057 01:14:02.199 --> 01:14:05.840 much better, And it turns out it's the only solar company that makes the 1058 01:14:06.000 --> 01:14:10.319 panels in the inverters. How is that? How weird is that? Yeah, 1059 01:14:10.359 --> 01:14:14.079 it's the only company that's vertically integrated out there. So what does that 1060 01:14:14.199 --> 01:14:17.640 mean? It controls all aspects of its production process, from mining raw materials 1061 01:14:17.680 --> 01:14:21.479 to manufacturing the panels to installing them on the rooftops, on either rooftops or 1062 01:14:21.520 --> 01:14:27.239 solar firms. It gives for Solar more control over its costs, its margins, 1063 01:14:28.000 --> 01:14:30.239 just helps out performance competitors. Now my thing is, I want to 1064 01:14:30.279 --> 01:14:35.159 know how many Congress people own FSLR, because you can receive more tax credit 1065 01:14:35.199 --> 01:14:40.840 if you use American made panels and inverters and you and from twenty twenty two 1066 01:14:40.880 --> 01:14:45.359 to twenty thirty two, you get thirty percent on Inflation Reduction Act part of 1067 01:14:45.439 --> 01:14:48.439 that Solar Tax Credit step down schedule. It starts with thirty percent, then 1068 01:14:48.520 --> 01:14:53.039 after twenty three or sorry, twenty thirty three goes to twenty six percent. 1069 01:14:53.439 --> 01:14:56.439 Then twenty two percent twenty thirty four, and then it goes to zero percent 1070 01:14:56.479 --> 01:15:00.640 in twenty thirty five. But if you're buying American made panels, I mean, 1071 01:15:00.680 --> 01:15:02.359 that's maybe why First Solar is doing so well. And they kind of 1072 01:15:02.359 --> 01:15:06.520 made me start thinking how many congress people own for Solar on top of its 1073 01:15:06.640 --> 01:15:12.039 vertical integration for solars leading manufacturer of thin film solar panels, which are more 1074 01:15:12.039 --> 01:15:19.039 efficient than traditional crystaline silicon panels that you drive from here to either Los Angeles 1075 01:15:19.159 --> 01:15:24.000 or San Diego. But the solar farms out there, there's some gigantic solar 1076 01:15:24.119 --> 01:15:27.760 farms out there. They're pretty cool to look at. Last time I was 1077 01:15:27.800 --> 01:15:30.159 in Sedona, I feel like every house that I saw had solar panels on. 1078 01:15:30.239 --> 01:15:33.960 That was really impressed. Sedona went up for the first I could see 1079 01:15:33.960 --> 01:15:39.439 that. I see new houses all trying to get solar. I mean, 1080 01:15:39.479 --> 01:15:42.239 because if you start from the beginning and you put it in and you get 1081 01:15:42.239 --> 01:15:45.279 everything you need, it's gonna you know, your electricity build that keeps going 1082 01:15:45.359 --> 01:15:48.079 high and higher is going to be cut down. So it's part of the 1083 01:15:48.159 --> 01:15:50.880 build. If you put it in part of the build, it's just hard 1084 01:15:50.920 --> 01:15:54.319 when you're converting because you've got to put the years in, how old you 1085 01:15:54.399 --> 01:15:57.439 are you buy the elease it, you know what I mean. But I 1086 01:15:57.520 --> 01:16:00.680 mean it does help. I mean, but like every thing though, it's 1087 01:16:00.760 --> 01:16:04.000 like everything can't just be one thing. And that's what I have a problem 1088 01:16:04.079 --> 01:16:09.600 with with our government pushing us all to ev vehicles and and doing the and 1089 01:16:09.720 --> 01:16:14.720 and and doing these panels and and the solar and and win. Let's have 1090 01:16:15.560 --> 01:16:20.600 just like a portfolio is diversified, let's diversify our energy, right. And 1091 01:16:20.920 --> 01:16:25.279 I don't I forgot what car it was, uh Highbred that's come out. 1092 01:16:25.319 --> 01:16:30.640 It was I think it was the Lexus, the Lexus Hybred and you and 1093 01:16:30.720 --> 01:16:34.119 then basically was talking about around town you use the electric, right when you 1094 01:16:34.239 --> 01:16:41.279 go other places you use the gas. And what a small idea wouldn't that 1095 01:16:41.399 --> 01:16:44.720 I would buy that? I would buy a Highbred that if I was going 1096 01:16:44.760 --> 01:16:46.680 to San Diego, I would turn on the gas and boom, pay for 1097 01:16:46.720 --> 01:16:49.760 the gas and go. But if I'm going around town, I would just 1098 01:16:49.840 --> 01:16:54.319 use the Hybred. Nice happy medium, if you will. But of course 1099 01:16:54.359 --> 01:16:57.039 if I forgot to go and get it turned and something happens to the electric, 1100 01:16:57.079 --> 01:16:59.640 I just going it over to the other side a peace of mind. 1101 01:16:59.680 --> 01:17:02.279 I don't get how we jump from one to the other. Yeah, that's 1102 01:17:02.319 --> 01:17:06.520 why hybrids outsell electric one point five to one. You know, there's more 1103 01:17:06.600 --> 01:17:10.880 hybrid. We should have made them better from the beginning, made what better 1104 01:17:10.920 --> 01:17:15.760 than hybrids and kept increasing them instead of all this rhetoric talk. I mean, 1105 01:17:15.319 --> 01:17:19.319 basically, Washington's making us go broke with all the things they want us 1106 01:17:19.359 --> 01:17:23.279 to do and how to do it with the regulations. And that's what's going 1107 01:17:23.359 --> 01:17:26.359 to change on top of it, you know, all this new technology. 1108 01:17:26.359 --> 01:17:29.239 I feel like we're still pretty early in ev space and solar space. So 1109 01:17:29.399 --> 01:17:32.479 what happens when this technology becomes obsolete. There's a reason that you lease your 1110 01:17:32.520 --> 01:17:35.840 Tesla rather than buy it. Oh, absolutely right. Yeah, I don't 1111 01:17:35.840 --> 01:17:39.920 know where this thing is going. I didn't even know if I like it, 1112 01:17:40.520 --> 01:17:44.239 and where the price is coming down like they have. I'm so thankful 1113 01:17:44.319 --> 01:17:47.239 that I did leave, because I wouldn't be able to get fifty cents on 1114 01:17:47.359 --> 01:17:53.600 the dollar if i'd have bought it. Because the new version of the Model 1115 01:17:53.720 --> 01:17:58.439 hy the test was Model hy and it's it's about fifteen percent cheaper now than 1116 01:17:58.479 --> 01:18:00.600 when I bought it. And I just bought it eight to go. See 1117 01:18:00.640 --> 01:18:03.239 what happens. Guys, you little sold the Hegos Tesla. Well, back 1118 01:18:03.279 --> 01:18:06.920 to the ev stuff. I guess. Well, it's where the world's going 1119 01:18:06.960 --> 01:18:10.920 to. You know, it's not my world, Solar, not my world. 1120 01:18:11.039 --> 01:18:13.760 You'll be driving an electric car before you die, I promise, No 1121 01:18:14.560 --> 01:18:16.479 around town. Yeah, I'll get up. I'm with you one hundred percent. 1122 01:18:17.439 --> 01:18:19.800 I don't have the energy to take it on the road yet. You 1123 01:18:19.880 --> 01:18:24.159 know, it's interesting. No, let's go back to the markets again. 1124 01:18:24.760 --> 01:18:28.039 The S and P is up two and a half percent and all, and 1125 01:18:28.199 --> 01:18:31.159 the equal weight is down. Yeah. Not something I would have thought it 1126 01:18:31.279 --> 01:18:35.079 was. Start switching already, but it's it's not which is which is trying 1127 01:18:35.119 --> 01:18:40.520 to tell you a being both? And we talked about that where we thought 1128 01:18:40.560 --> 01:18:43.840 this year would be a little bit less growth oriented, a little more value 1129 01:18:43.920 --> 01:18:47.399 oriented. Thus far that has not happened. This is absolutely a carbon copy 1130 01:18:47.479 --> 01:18:53.119 of December Dean. Yeah, where the Magnificent seven or the I guess the 1131 01:18:53.279 --> 01:18:56.359 super six I have. I need to get rid of that Magnificence seven because 1132 01:18:56.359 --> 01:19:00.600 it doesn't exist anymore. Whatever. It's just like it's just like the indexes. 1133 01:19:01.039 --> 01:19:03.359 Oh, this suck's not performing. Let's take it out. Put something 1134 01:19:03.399 --> 01:19:05.760 in that's performing. Oh, by the way, that's going to be the 1135 01:19:05.800 --> 01:19:09.079 worst performer for next year, and the one you took out it's going to 1136 01:19:09.079 --> 01:19:13.119 be great. But you know it's everyone wants to do. Where's the marketing 1137 01:19:13.199 --> 01:19:15.600 on. I can't tell you where the market's going. I can tell you 1138 01:19:16.319 --> 01:19:20.680 that the risk is greater. I can tell you you have to stay invested. 1139 01:19:21.039 --> 01:19:24.800 I can tell you you have to have some of these tech stocks in, 1140 01:19:24.880 --> 01:19:29.960 whether it's an EFD or two or three percent positions in them. What 1141 01:19:30.119 --> 01:19:32.600 I can tell you is if you have too much of your portfolio in just 1142 01:19:32.680 --> 01:19:39.600 the Magnificent Sex or whatever, there's the six packed lunch super six. Okay, 1143 01:19:41.960 --> 01:19:45.199 you're gonna get hurt one day, all right. At the end of 1144 01:19:45.279 --> 01:19:49.800 the day, it's all about allocations and understanding it and where you are. 1145 01:19:50.279 --> 01:19:55.399 And I feel, Dave, I'm back in the nineties, late nineties when 1146 01:19:55.520 --> 01:19:59.319 everybody thought the average return should be twenty five to thirty percent in their mutual 1147 01:19:59.399 --> 01:20:02.560 funds. Allth dot coms. You're going to make me thirty percent. That's 1148 01:20:02.680 --> 01:20:06.760 horrible, you know, Well, the stuff that you had made fifty percent 1149 01:20:08.000 --> 01:20:11.239 that was invested in there your other side, the bonds didn't make that. 1150 01:20:11.439 --> 01:20:13.760 So that's why you're not at thirty perent. Oh, I don't want those. 1151 01:20:13.840 --> 01:20:15.399 I just want and that's where it is. And then they all got 1152 01:20:15.479 --> 01:20:23.039 hurt and some day, somehow every generation gets hurt. Be careful, but 1153 01:20:23.279 --> 01:20:27.560 don't be out. That's the difference. Yeah, the concern about risk right 1154 01:20:27.600 --> 01:20:30.239 now is just gone and there is there is no concern about risk. Get 1155 01:20:30.279 --> 01:20:35.720 worried about fomo, right they want to fear of missing out, the more 1156 01:20:35.800 --> 01:20:39.680 fear of missing out. Uh, and let's get on, let's go, 1157 01:20:39.800 --> 01:20:44.359 go go. I will say, fortunately, the vast majority of our clients, 1158 01:20:44.439 --> 01:20:46.920 probably up in the ninety eight percent range, are not those people. 1159 01:20:47.640 --> 01:20:50.079 No, they don't want to They want to be in a position that the 1160 01:20:50.399 --> 01:20:55.800 portfolios will work. But they know they're allocated. So if it turns against 1161 01:20:55.840 --> 01:20:59.319 them, they still have bought some bonds now that we we have maturity dates, 1162 01:21:00.119 --> 01:21:02.920 some conservative stocks paying dividends. Uh. They know we com mitigate risk 1163 01:21:03.000 --> 01:21:05.720 and head themselves, so they're happy. Well, a lot of the clients 1164 01:21:05.800 --> 01:21:10.119 we get are ones that come to us for the financial planning aspect, the 1165 01:21:10.159 --> 01:21:15.920 first part where we yeah, we can do it too, all of it. 1166 01:21:15.079 --> 01:21:18.479 That's the darndest commerceive for seeing that anywhere. Yeah, most of our 1167 01:21:18.560 --> 01:21:21.800 clients come from their money managers. When the heck else are they going to 1168 01:21:21.880 --> 01:21:27.039 come from? You know, they're doing it themselves. They're usually not coming 1169 01:21:27.039 --> 01:21:29.800 to your Fisher. You know. What I'm getting at is that they come 1170 01:21:29.880 --> 01:21:32.279 to us for the whole retirement planning thing because they're mostly likely trying to figure 1171 01:21:32.279 --> 01:21:34.199 out how to get income from their plans, so they're going to be on 1172 01:21:34.239 --> 01:21:40.399 the more conservative side. They're not going to be all aggressive everything when they're 1173 01:21:40.399 --> 01:21:43.119 retired. That's obviously a lot of our clients. Oh it's funny you say 1174 01:21:43.159 --> 01:21:45.800 that, Dave, you know, and and people that are looking for advisors 1175 01:21:45.960 --> 01:21:50.399 and and talking to people, especially when you're hearing them like Fisher that advertisers 1176 01:21:50.479 --> 01:21:55.279 and and uh some of these other companies that all you hear them on the 1177 01:21:55.359 --> 01:21:58.840 radio and stuff and do things. The one thing I got to say about 1178 01:21:58.920 --> 01:22:02.319 us is people, you know, come up and talk why don't you have 1179 01:22:02.399 --> 01:22:06.199 billions of dollars onder management? You know. I was at the conference the 1180 01:22:06.279 --> 01:22:11.000 other day and I was and I was I was speaking, okay, talking 1181 01:22:11.000 --> 01:22:13.760 about the markets and talking about things. It's like I speak on the radio 1182 01:22:14.119 --> 01:22:16.119 and they came up, why don't you have billions of dollars? We have 1183 01:22:16.239 --> 01:22:20.039 three billion. We have four and a half billion. Because I want to 1184 01:22:20.079 --> 01:22:25.000 be involved. I don't want to just be people coming in. I live 1185 01:22:25.079 --> 01:22:28.279 in Tucson. I want a quality of life. I want people to come 1186 01:22:28.359 --> 01:22:30.960 here and build relationships. It's not just building the company. And when people 1187 01:22:31.000 --> 01:22:34.319 don't realize you're own one hundred percent of the company, and say you've got 1188 01:22:34.359 --> 01:22:39.520 three hundred and some odd million dollars, right, that's one hundred percent yours. 1189 01:22:40.119 --> 01:22:43.319 If you have a billion and you're only making thirty percent off that, 1190 01:22:43.560 --> 01:22:45.359 it's the same three hundred million. But you have to deal with so many 1191 01:22:45.439 --> 01:22:51.319 people and you're not actually doing what you do best, which is actually giving 1192 01:22:51.399 --> 01:22:57.920 your forty years of experience to investing. So then they become cookie cutters and 1193 01:22:58.000 --> 01:23:00.680 they go, oh, we're in models. We're in this design the models. 1194 01:23:00.720 --> 01:23:02.119 No, do you know how they work? No? We design on 1195 01:23:02.239 --> 01:23:05.840 models. We've done on models. We know what we got to take in, 1196 01:23:06.000 --> 01:23:09.960 we know what we have to take out, the flexibility, the mitigating 1197 01:23:10.000 --> 01:23:14.520 a risk. We actually manage money. Our foundation is money management. The 1198 01:23:14.640 --> 01:23:18.279 financial planning is the whipped cream and cherry on top, because it allows us 1199 01:23:18.319 --> 01:23:23.359 to really know what you want to do from the portfolio and be able to 1200 01:23:23.399 --> 01:23:27.079 look on how long it takes. But when it comes into managing the money, 1201 01:23:27.199 --> 01:23:29.920 we've done it. I know how we've done it for a long time 1202 01:23:30.439 --> 01:23:33.359 and the allocations and it fits for people. But my goal wasn't to get 1203 01:23:33.399 --> 01:23:38.079 to billions of dollars unless we grow it organically. Sure, and that's what 1204 01:23:38.520 --> 01:23:43.119 having one team, one group to build it from there, not having ten 1205 01:23:43.199 --> 01:23:46.319 other reps here that all have you know, thirty million dollars, fifty million 1206 01:23:46.359 --> 01:23:48.880 dollars and everyone's get part of it, and then you have to worry about 1207 01:23:48.880 --> 01:23:51.600 everything that's going on. I tell me the end of day, he's he's 1208 01:23:51.600 --> 01:23:56.279 working with thirty different people and he can't remember who's who. I said, 1209 01:23:56.279 --> 01:23:58.479 we have a thousand, and I can tell you every one of them, 1210 01:23:58.760 --> 01:24:00.239 what their kids, names are are, what they look like. You know, 1211 01:24:00.600 --> 01:24:03.600 that's being That's exactly what you're talking about. That's how we want to 1212 01:24:03.640 --> 01:24:08.560 build a business. These are these are our friends. There are people we're 1213 01:24:08.600 --> 01:24:12.960 working with or helping, they're helping us. It's it's a it's a it's 1214 01:24:12.960 --> 01:24:15.920 a kind of a family situation. And even here in the office amongst us 1215 01:24:15.960 --> 01:24:18.079 employees, it's like a family, like a big family. Today. I 1216 01:24:18.159 --> 01:24:21.039 tell you we have a billion dollars. It's because we grew organically as much 1217 01:24:21.079 --> 01:24:26.800 as we could. Yeah, and everyone's learning and doing the same things and 1218 01:24:26.880 --> 01:24:30.279 being taken care of. But integrity is so important. Customer service is so 1219 01:24:30.399 --> 01:24:35.600 important. Knowledge experience is so important. But the thing I've learned, we 1220 01:24:35.800 --> 01:24:40.600 make sure our clients understand what we're doing before we even invest for them. 1221 01:24:41.039 --> 01:24:45.000 Until they say they have questions, we answer, we'll be back money out 1222 01:24:45.000 --> 01:24:51.640 of show. Appreciate you listening. Thank you say it's only welcome back everybody. 1223 01:24:51.680 --> 01:24:55.319 We got one more segment. I hope you enjoyed it all. Have 1224 01:24:55.399 --> 01:24:58.560 you done all the questions yet? Yeah? We did, Yeah we did. 1225 01:24:58.640 --> 01:25:01.479 Did they've answering? I did right? Good? I did. It 1226 01:25:01.600 --> 01:25:04.840 was a it was a sure questions in there, But I did the best 1227 01:25:04.880 --> 01:25:08.920 I could. I like when people calling with questions, Yeah, well they 1228 01:25:09.000 --> 01:25:12.239 email us and stuff like that. Nice to see the questions before the show, 1229 01:25:12.520 --> 01:25:15.760 right, No, you gotta get toes. I tried, I tried. 1230 01:25:15.479 --> 01:25:18.319 I try to tell Dylan todd them beforehand one time and they got mad 1231 01:25:18.359 --> 01:25:21.720 at me, so, okay, we will do it. One of the 1232 01:25:21.880 --> 01:25:28.159 things that I missed most is when we did everything live and we had call 1233 01:25:28.279 --> 01:25:31.880 ins. I loved having to call in spot. Oh so what if I 1234 01:25:31.920 --> 01:25:34.279 didn't know the answer? I said, I didn't know the answer, but 1235 01:25:34.399 --> 01:25:36.560 they tried, you know, they you know, we did. We did 1236 01:25:36.600 --> 01:25:40.680 a lot of stuff. We did. Uh. They were just calling like 1237 01:25:40.800 --> 01:25:44.880 a U with a stock and then his opinion. So most of them I 1238 01:25:44.960 --> 01:25:47.000 knew. One of them I didn't know. But they would answer other questions 1239 01:25:47.039 --> 01:25:50.079 and do things, and we'll get into conversations like when I fill in for 1240 01:25:50.199 --> 01:25:54.520 Garrett in the morning, which obviously we're not doing that anymore because he's in 1241 01:25:54.560 --> 01:26:00.159 the afternoon. I loved getting questions, whether they agreed with me but not 1242 01:26:00.239 --> 01:26:03.000 agreed with me. It was fun. That's what makes radio good in my 1243 01:26:03.119 --> 01:26:06.479 opinion. So I do miss that. But the questions that come into us 1244 01:26:06.520 --> 01:26:11.800 are great. Order. If Garrett likes sleeping in, I don't know. 1245 01:26:12.000 --> 01:26:14.920 Can you imagine that he had to be on the air, miss him in 1246 01:26:15.000 --> 01:26:16.600 the morning, but on oh yeah, on the air at six, right, 1247 01:26:16.960 --> 01:26:19.439 he was on the air at six but he did a lot of work 1248 01:26:19.479 --> 01:26:23.039 beforehand and stuff. But I mean, you still, every time he did 1249 01:26:23.079 --> 01:26:24.640 the show, I had to get up at like, you know, four 1250 01:26:24.800 --> 01:26:28.359 thirty, and I'm thinking, and now he can get up at ten once 1251 01:26:28.560 --> 01:26:31.039 right then the f new Yeah, I think he probably does all his prep 1252 01:26:31.079 --> 01:26:34.399 work in the morning rather than the previous afternoon. Who knows. Speaking of 1253 01:26:34.680 --> 01:26:39.560 we've only one month left and then back on daily saving time. I'm excited 1254 01:26:39.640 --> 01:26:41.920 for it. It's going to stay that way now, right. No, 1255 01:26:42.520 --> 01:26:45.039 Well, I thought they got month just eight months. No, I thought 1256 01:26:45.119 --> 01:26:47.199 I thought that this was the last year of it. No, no, 1257 01:26:47.359 --> 01:26:53.319 no, no, no bought it. They're trying to expand it. They 1258 01:26:53.399 --> 01:26:56.359 expanded it from six to eight months. Right, But I thought that I 1259 01:26:56.520 --> 01:26:59.680 thought, maybe obviously I could be wrong. I've been wrong once or twice 1260 01:27:00.000 --> 01:27:03.000 that they they were trying to get to it where we had no more daylight 1261 01:27:03.079 --> 01:27:05.560 savings time and we were just going to stay on Pacific. I think it's 1262 01:27:05.600 --> 01:27:09.039 one of the more popular things in the country, so I don't think that's 1263 01:27:09.079 --> 01:27:11.000 going to happen. But I don't know. I've not heard a word about 1264 01:27:11.000 --> 01:27:13.079 it. The cool thing is we got two young guys, right, on 1265 01:27:13.119 --> 01:27:15.079 the phone right now, and they're going to figure out what does what the 1266 01:27:15.159 --> 01:27:18.720 truth is. They're going to figure out whether those states adopted a legislative change 1267 01:27:18.760 --> 01:27:23.239 in twenty twenty three to get rid of it. Americans should expect clock changes 1268 01:27:23.279 --> 01:27:27.359 to continue through twenty twenty four. Yeah, which means what as this year? 1269 01:27:27.800 --> 01:27:30.039 We're keeping it? Well, we are on it right now. Yeah. 1270 01:27:30.520 --> 01:27:33.079 Anyway, it was for next year, is what I'm saying. And 1271 01:27:33.840 --> 01:27:38.000 people listening. I knew next year. People are listening, going, what 1272 01:27:38.039 --> 01:27:40.720 are you talking about? We don't have DLA savy time and ariosota I know. 1273 01:27:41.600 --> 01:27:45.079 Well for us though, the markets opened up seven thirty or six thirty. 1274 01:27:45.239 --> 01:27:46.920 Yeah, yeah, the day I saving time does matter. If you 1275 01:27:47.000 --> 01:27:50.920 are in this business eight months out of the year, you you have to 1276 01:27:50.960 --> 01:27:54.279 be here ready to go at six thirty. So summing it up, good 1277 01:27:54.359 --> 01:27:59.880 economic numbers, new highs this week markets, uh, one of the five 1278 01:28:00.039 --> 01:28:03.319 avity basically, you know, like I said back to the nineteen nineties, 1279 01:28:03.439 --> 01:28:08.720 I don't think these stocks are like the dot com companies because there was really 1280 01:28:08.760 --> 01:28:12.760 some substance to these six stocks or so that are going higher. But I 1281 01:28:12.800 --> 01:28:15.159 think there's a few more. CrowdStrike has done really well too, And there's 1282 01:28:15.159 --> 01:28:19.520 a bunch of others, and Netflix has done really well Netflix. So I 1283 01:28:19.600 --> 01:28:25.199 mean, at the end of the day, if you're not in those stocks, 1284 01:28:25.239 --> 01:28:28.119 you're not making the returns that you keep seeing on the S and P 1285 01:28:28.279 --> 01:28:30.359 and all this other stuff. But on the same token, if you're not 1286 01:28:30.479 --> 01:28:35.239 reducing your some of your position or hedging some of that position by using the 1287 01:28:35.319 --> 01:28:39.920 inverses, if they turn and go down each one hundred points, you're gonna 1288 01:28:39.960 --> 01:28:42.640 lose a lot of money. I think the only thing this has in common 1289 01:28:42.720 --> 01:28:47.159 with nineteen ninety nine is just moving sharply higher driven by tech stocks. In 1290 01:28:47.279 --> 01:28:51.479 nineteen ninety nine, there had to have been being at least two thirds of 1291 01:28:51.560 --> 01:28:55.479 the companies that just had no substance too at all. They weren't even real 1292 01:28:55.920 --> 01:29:00.520 it was just pieing the sky stuff IPOs coming out for companies they didn't have 1293 01:29:00.560 --> 01:29:05.119 any sales. It was ridiculous. That's similar to the twenty twenty spack crazy. 1294 01:29:05.359 --> 01:29:09.520 Yes, oh yes, yeah, I could see that. Well do 1295 01:29:09.600 --> 01:29:13.520 you think that this is that we're seeing that with some AI stocks now? 1296 01:29:13.520 --> 01:29:15.560 I mean, I feel like if any company just tells a word, all 1297 01:29:15.600 --> 01:29:19.199 AI stocks that really are and go, yeah they are. I'm not even 1298 01:29:19.239 --> 01:29:21.920 in that. I refuse to be in. Those are maybe in a a 1299 01:29:23.319 --> 01:29:26.600 in a in a et F that might have them, or small companies. 1300 01:29:26.840 --> 01:29:29.560 But are you in the AI right now? You got to be in the 1301 01:29:29.640 --> 01:29:32.319 Googles, Microsoft's, the Apples and then the videos. For example, you 1302 01:29:32.399 --> 01:29:35.239 had the CEO of PayPal saying that he was going to come out and shock 1303 01:29:35.319 --> 01:29:39.279 the world this last Thursday. And what do you say that they're going to 1304 01:29:39.279 --> 01:29:43.600 implement a little bit of AI when within PayPal and the stock didn't react to 1305 01:29:43.680 --> 01:29:46.680 it whatsoever? Right now? Is there a substance there? There's one thing 1306 01:29:46.760 --> 01:29:50.279 I want to put word of caution out there right now, and that's all 1307 01:29:50.319 --> 01:29:55.399 these commercials about gold. Okay, wait, do you want to hear the 1308 01:29:55.479 --> 01:29:59.479 question that we had? Yeah, I want to talk about gold in you 1309 01:29:59.560 --> 01:30:03.960 I rate? Okay. I want to talk about how it sounds so good. 1310 01:30:05.359 --> 01:30:09.479 You know, well, coming to the end, the dollar's not going 1311 01:30:09.560 --> 01:30:13.439 to be around. Buy gold. We can buy the physical asset in your 1312 01:30:13.520 --> 01:30:17.439 IRA. Okay. That's good because you might be thinking that's a great place 1313 01:30:17.520 --> 01:30:21.119 to go. I want you to stop and think before you send any money 1314 01:30:21.159 --> 01:30:26.760 to these physical gold people. Do you know them, what is it? 1315 01:30:27.479 --> 01:30:32.800 Where they're store in it? And if hell, if everything went to hell 1316 01:30:32.880 --> 01:30:35.840 in a handbasket, couldn't remember the phrase it first? Yeah, okay, 1317 01:30:36.720 --> 01:30:41.640 hell in a hand basket? Right? Do you think those people that you 1318 01:30:41.800 --> 01:30:45.399 bought the gold from are going to sit around if there's actually physical gold and 1319 01:30:45.479 --> 01:30:48.199 they're not going to take it from you? Are you kidding me? You 1320 01:30:48.279 --> 01:30:54.399 know that IRA will be worthless. It'll be like the bitcoin situation, all 1321 01:30:54.479 --> 01:30:58.760 right, where you like that freedman or whatever's name was. Okay, at 1322 01:30:58.800 --> 01:31:01.720 the end of the day, if you're buying it because everything's gonna go bad, 1323 01:31:02.479 --> 01:31:05.279 well when it goes bad, your gold isn't gonna be there, and 1324 01:31:05.319 --> 01:31:11.359 it's gonna make things even worse. Period. I mean, think about why 1325 01:31:11.399 --> 01:31:15.760 you're buying it and what can happen if you have physical gold that you bought 1326 01:31:15.840 --> 01:31:19.039 outside of your IRA and it's in your safe, Okay, you have it, 1327 01:31:19.800 --> 01:31:25.079 But if it's in somebody else's safe and you only have paper, what 1328 01:31:25.239 --> 01:31:30.159 has that got for you? Nothing? So think about that before you start 1329 01:31:30.279 --> 01:31:34.920 sending and opening up iras with these people that you hear on the air selling 1330 01:31:34.960 --> 01:31:41.800 commercials. And remember every single time they've done this at sometime it tops out, 1331 01:31:41.840 --> 01:31:44.319 it doesn't go anywhere, and they wait for it to come down, 1332 01:31:44.840 --> 01:31:46.960 and then get through that cycle, and then goal starts up again and they 1333 01:31:47.039 --> 01:31:53.720 hit the next bunch of people. But it sounds great, buy hard assets, 1334 01:31:54.720 --> 01:31:59.239 but it's not whose common sense tells you the reason you're buying it. 1335 01:32:00.279 --> 01:32:03.039 It's for everything going bad. Well, if everything goes bad, you think 1336 01:32:03.079 --> 01:32:06.640 they care about you, they're gonna steal it and run. At a client 1337 01:32:06.720 --> 01:32:11.239 call last week and he was interested in whether or not we had a particular 1338 01:32:11.399 --> 01:32:13.720 type of investment. I said, no, don't. We don't offer that. 1339 01:32:14.279 --> 01:32:18.359 He said, well, I'm in touch with this company that provides iras 1340 01:32:18.439 --> 01:32:24.359 that invest in this real estate in North Carolina, and this real estate guarantees 1341 01:32:24.479 --> 01:32:30.319 me ten percent per quarter, ten percent per quarter, forty six percent annualized, 1342 01:32:30.359 --> 01:32:32.159 ready to return. I said, you understand, that's just not ever 1343 01:32:32.239 --> 01:32:35.079 gonna happen, right, Oh no, no, no, it's going to 1344 01:32:35.119 --> 01:32:39.800 happen. I'm they're standing behind it. It's gonna happen. Good looks. 1345 01:32:39.880 --> 01:32:44.000 I'm sure what they said. And he doesn't believe us. You get ten 1346 01:32:44.079 --> 01:32:47.600 percent paid quarterly, Yeah, that would make a precent, not ten percent 1347 01:32:47.720 --> 01:32:50.920 You're not gonna get ten percent a quarter. You're gonna get ten percent annually 1348 01:32:51.000 --> 01:32:55.560 paid quarterly, which means you get two and a half percent a quarter right 1349 01:32:55.640 --> 01:32:57.560 now. I did go back to him and said, because I thought that 1350 01:32:57.720 --> 01:33:00.439 was a good insight on your partner. I went back to and I said, 1351 01:33:00.439 --> 01:33:02.800 Matt, are you sure that it's not this? You know? No, 1352 01:33:02.960 --> 01:33:05.760 no, no, it's ten percent a quarter forty six percent annualized right 1353 01:33:05.760 --> 01:33:10.600 to return. Okay, And why don't you sell your house, sell everything 1354 01:33:10.680 --> 01:33:13.520 you had? Wouldn't you just give it to them? Throw it, wouldn't 1355 01:33:13.560 --> 01:33:15.600 you? Why wouldn't you get me up? Because the case it doesn't work 1356 01:33:15.640 --> 01:33:19.600 out? Well, no kidding. This is a young man of a forty 1357 01:33:19.640 --> 01:33:23.479 two year old guy with a quarter of a million bucks in a retirement account 1358 01:33:23.680 --> 01:33:28.359 and he's given them the whole thing. Wow, well now that's going to 1359 01:33:28.439 --> 01:33:30.239 work out, you know. So it's just, uh, did you guys 1360 01:33:30.239 --> 01:33:36.199 see Archer Daniel Archer Daniels Midland this past week with a major industrial company like 1361 01:33:36.279 --> 01:33:41.720 that, you don't expect the mouthful it is. Maybe that's the problem. 1362 01:33:42.239 --> 01:33:47.319 You don't expect there to be disaster. Right This stock plunged twenty percent on 1363 01:33:47.520 --> 01:33:51.399 Monday to a fifty two week low. Get this on news. The chief 1364 01:33:51.520 --> 01:34:00.000 financial officer was placed on administrative leave. I missed an investigation into accounting prect 1365 01:34:00.119 --> 01:34:04.720 They also issued Q four guidance that was below expectations, which of course prompted 1366 01:34:04.760 --> 01:34:10.520 a bunch of brokers downgrades. Talking about Archer Daniel Midland and how a stock 1367 01:34:10.600 --> 01:34:15.600 of that size can get hit twenty percent in a day. That's unusual. 1368 01:34:15.439 --> 01:34:19.840 But if you have because if they're doing something illegally, people want out and 1369 01:34:20.279 --> 01:34:25.720 don't will last questions, won't ask questions until after we get out. Yeah, 1370 01:34:25.720 --> 01:34:29.000 if you have an accounting practices that are so egregious that you put the 1371 01:34:29.399 --> 01:34:34.399 CFO on the leave of absence, that's potentially problem pushed everything else in doubt. 1372 01:34:35.039 --> 01:34:40.000 Netflix jumped you were you were surprising that, Dean, You're you're saying 1373 01:34:40.560 --> 01:34:43.039 you don't see anything on Netflix that you know. My thing is, it's 1374 01:34:43.039 --> 01:34:45.119 a personal thing. They always say, buy stuff that you love. Yeah, 1375 01:34:45.600 --> 01:34:50.119 I love Netflix, except I hate them. It's like it's like really 1376 01:34:50.199 --> 01:34:57.079 bad relationship I have with Netflix. I cannot ever find anything that I like 1377 01:34:57.840 --> 01:35:02.800 except maybe once every few weeks. Okay, I mean the dubbing stuff I 1378 01:35:02.920 --> 01:35:06.680 used to I can't. That drives me crazy. Uh the what stuff? 1379 01:35:08.079 --> 01:35:13.119 When the door shows, Oh gotcha. You know it's like I try to 1380 01:35:13.159 --> 01:35:15.840 watch some shows just to relax and do it, but if it doesn't get 1381 01:35:15.840 --> 01:35:20.520 my attention, I keep changing it and it's just crap. When somebody says 1382 01:35:20.560 --> 01:35:24.520 you need to watch this show and I look at where it is and it's 1383 01:35:24.560 --> 01:35:28.960 on Netflix, I'm always excited because they really are better than everybody else. 1384 01:35:29.279 --> 01:35:32.520 They really are, And they added thirteen point one million new subscribers in the 1385 01:35:32.600 --> 01:35:39.680 last quarter. Stock jump ten percent on Wednesday. Pretty nice edition. Thirteen 1386 01:35:39.720 --> 01:35:43.039 millions the company. They're doing great, I mean what Also the big news 1387 01:35:43.159 --> 01:35:45.159 was that WWE they're gonna live stream, that they had a five billion dollar 1388 01:35:45.239 --> 01:35:47.399 deal, and that's why I mean the stock went up eighteen percent last week. 1389 01:35:47.399 --> 01:35:49.800 It makes me wonder when they're going to cut a deal with the NFL 1390 01:35:49.840 --> 01:35:54.119 and then they're going to have you know, one of those youtub now so 1391 01:35:54.640 --> 01:35:56.880 yeah, but then they can start with those behind the scenes, you know, 1392 01:35:57.079 --> 01:36:00.159 quarterback shows that they've had before. I get it. There's some it's 1393 01:36:00.199 --> 01:36:02.000 gonna take a lot of it's gonna take some time because I think Amazon has 1394 01:36:02.079 --> 01:36:04.760 that they've been doing more of that. Yep, a lot of money to 1395 01:36:04.800 --> 01:36:08.079 get into the NFL right now, and they're going to keep paying it and 1396 01:36:08.159 --> 01:36:12.520 paying it and the streaming services. But I tell you it's you know when 1397 01:36:12.560 --> 01:36:15.720 it's the streaming ain't work and the game ain't that great to cost you over 1398 01:36:15.119 --> 01:36:19.800 thousand dollars without Sunday ticket to watch NFL now through a season because of all 1399 01:36:19.840 --> 01:36:25.119 the streaming subscriptions. Wow, all right, listen, shows almost over. 1400 01:36:25.279 --> 01:36:28.039 I want to thank you for listening. Get in touch with us. We 1401 01:36:28.239 --> 01:36:30.640 will help you. We'll be back next week with your money matters. We 1402 01:36:30.720 --> 01:36:34.319 all want to be happy, we all want to be healthy, and the 1403 01:36:34.560 --> 01:36:39.039 end of the day, all we're trying to do is be profitable.