Nov. 3, 2024

Election Jitters, Tech Earnings, and Staying Steady in Volatile Markets

Election Jitters, Tech Earnings, and Staying Steady in Volatile Markets

Welcome to Money Matters Show, brought to you by the Greenberg Financial Group. In this insightful episode, we dive deep into the economic implications of the upcoming election and what it could mean for the markets. As we navigate through uncertain...

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Welcome to Money Matters Show, brought to you by the Greenberg Financial Group. In this insightful episode, we dive deep into the economic implications of the upcoming election and what it could mean for the markets. As we navigate through uncertain times, we’ll also share our signature financial planning approach designed to help our clients stay calm and confident, no matter the volatility.
We’ll analyze the latest earnings reports from tech giants Google, Amazon, Apple, and Meta, unpacking the key takeaways and how interest rate hikes have impacted the broader stock market, causing indices to dip this week. Additionally, we’ll break down recent economic data, like the latest jobs report, and discuss what it reveals about the health of our economy.
Tune in for an episode filled with expert insights, strategies, and the financial news you need to navigate today’s economic landscape with clarity.
If you would like to contact us to learn more about our firm and our process call us at 520.544.4909 or go to our website at www.Greenbergfinancial.com or email us at Contact@Greenbergfinancial.com

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

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here in Tucson, Arizona, seven ninety am. It's the Money

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Matter Show. And of course this is Dean Greenberg doing

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it for a long time, thirty five years now, been

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on this radio talking to you about how to navigate

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these markets. And I thought about it. You know, it's

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kind of crazy. I mean, I started in nineteen ninety,

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but boy, I remember in two thousand and eight we

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were all the way down to like six hundred and

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sixty five on the S and P five hundred, now

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only like fifty seven hundred and change, touching. We got

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over fifty eight hundred. Looks like we can get to

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six thousand at sometime. Is that crazy? I remember when

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Trump got in in twenty sixteen and and all we

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were talking about getting to about fifty thousand on the Dow,

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and people said they thought I was crazy. Markets went

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up to about forty something thousand and backed out and

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now back up again and probably gonna get to fifty.

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We'll probably get to one hundred thousand at some time.

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But the moves that make it really incredible. Wealth is created,

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but so a losses when things happen. We're gonna talk

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a little bit about all that too. Obviously, this week

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is was jobs showing there was no job growth on Friday,

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I mean, twelve thousand jobs and they were looking at

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one hundred thousand. I don't even know why we listened

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to these people or look at it, or trade off

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of it or in vest off of it. They're never right.

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And the crazy part is that this is how fair

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the Federal Reserve tries to make decisions on interest rates.

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There's another thing I need to talk to you about

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is interest rates. Since they've cut interest rates at fifty

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basis points, the Fed Fund rate interest rates have gone up.

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The interesting part too, is oils going down. What is

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that really telling us? Got to think about that too.

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We all know what this week coming up is. It's

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all about the election. The election, the election, the election.

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I don't know about you. I'm going to be so

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happy that I can pick up my phone and not

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see ten messages every other hour of political influence, questionings,

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you name it, it comes our way. I'm tired of it.

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I'm so tired of the whole thing, and I'm sure

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most people are, which is another reason why most people

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won't even get into politics. There's no win win in that.

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It's lose lose any way you do it. Whoever you are,

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you will become a loser if you become a politician.

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Why because if you tell the truth, some people are

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always going to ridicule you. Other people are going to

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love you. It's the problem you have. But politics today

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has gotten so bad, so bad. I mean, think about it,

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what it's out there right now. Think about what they're saying.

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If one gets in, there's no more democracy, and he's

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a tyrant, and he they say all these other things

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about him. It's like Germany and this and that. You know,

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the other one gets in, no more democracy, We're going

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down the drain. The United States is not going to

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be one of the America is never going to be

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the same. I'd probably lean more that way then the

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other way that it won't be the same. Because the

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truth is, we've seen what President Trump has done, did

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a really good job, but only half the nation knows that.

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But on the other side, we've seen what the Harris

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Biden group did. He didn't do such a good job economically.

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I just want to talk economically. But then if you

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want to go down to the border. Ye, worst job

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we've seen ever. We got back in the wars. Okay,

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not directly, but indirectly the whole thing during those four years.

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Everyone forgets the uproar that we had in schools and

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still going to have that in schools when we went

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through the pandemic, what the teachers Union tried to do

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basically with the okay of the government. Remember all of

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those things. Okay, Yes, January sixth was horrible. Never want

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to see that again, But so was all the Summer

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of love in Seattle and LA and Chicago and every

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place else that they were burning down everything. No, it's

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okay for one side, but not okay for the other side.

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In my eyes, it's not okay for any side to

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destroy things, to bring things down, build things up. Been

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thinking about this a lot of what happens after Tuesday. Nothing,

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the sun will come up, people will tell you what's

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going on, and we're gonna be in the same situation,

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which is where we are with the markets right now.

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The markets were up there nicely. We had a big

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fall down on Thursday, a little bounce back on Friday,

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not much, but the week there's not no money wanting

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to come into the market right now, which makes it weaker.

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The one thing I do thing is gonna happen is

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the markets are gonna go way down or way up

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between the election and the end of the year. Can

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I tell you which side I think both about that.

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I think there's gonna be volatility, and you're gonna know

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how to do it if and when, I and and

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it could go up first and then down or down

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first then up. That's what I believe is gonna happen.

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We'll have a big move one way to the other

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after the election, and I think it's I think it's

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more weakness than strength. I mean, and I'm not talking

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about a one to two day thing, talking about a

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little bit of a cycle here. If it goes down first,

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all right, then then I think you look for opportunities.

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If it goes up, you look to come out of

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some things because at some time it's coming back down again.

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You see how quick it comes down compared to going up.

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I don't think there's enough money, new money coming in

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until next year to support the market to go higher.

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Earnings are pretty good, but they still fall off. Apple

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came out with great earnings, still fell Amazon obviously won

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higher this I don't even know what people actually looking

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for that make the stock go up and down. In

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the AI field, we all know they're overspending. I mean,

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so that what it comes down to is who will

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be able to be able to spend all this money

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to make it work in the in the future. And

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I guess with Amazon, you can see results immediately because

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it helped the quicker they get packages to people, the

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more money that they make, and everything else they're doing,

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and they and then the AI and in the in

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the cloud and all the other stuff that they do.

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I don't even understand how it's all tied together. Very

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few people do. We all know that there are things

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that are happening in AI that are great and not

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so great, but it's not going away, and it's keeping

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into Everyone's head is spinning. So you kind of look

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out and say, Okay, I'm gonna keep my feet in there.

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If we get knocked down hard, then I'll jump back in,

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but I'll have my toe in right now, all my feet,

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and then I'll get even more invested later on if

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they fall. If not, then that's great, We've had a

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nice ride. We'll stay invested. And uh and if they

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keep going up, you can always add to them on

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the upside too. So the interesting part of what we

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see right recently is when the Fed lowered the rates,

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everyone thought interest rates would continue down, but they didn't.

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Treasuries went up, the price went up, the yield went

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up up to back over four percent on the ten year.

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So that means that mortgage rates have not come down.

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Even though Fed fundrate have come down, mortgage rates have

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not come down. In fact, they won't back up. So

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that doesn't help the economy, doesn't help people with home buying.

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That's the thing that helps with home buying. Lower rates.

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Not giving people twenty five thousand dollars to put it

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is a dump payment that will be inflationary. If you

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give people money to buy a house for the first time,

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and it's that type of like a credit, that means

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that everyone can increase the value of the house of

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trying to sell it because people will have more money,

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and that will drive the price higher and drive more

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people out of the market that can't get that twenty

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five thousand dollars if they're really going to do it anyway,

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and who's it going to go to. But oil prices

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are down. So here's the two things that they're saying.

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The markets are saying. I know they don't talk, Okay,

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what they do is do is trade, and you have

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to interpolate what they're saying. When oil prices are low

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or coming down, it usually represents a recession is on

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the horizon. When rates interest rates are going up, it's

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usually assumption that inflation is on the rise and coming back.

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So if you have that, what is that telling us

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about the economy. That's telling us we could be in

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a stagflation type of situation. We have inflation, but we're

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not growing the economy, so we just stand still. So

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they got a battle between a recession and an inflation

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and you end up with stagflation. Stagflation is the worst

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thing that can happen. Inflation isn't great either, but sair

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inflation means we're not growing, but we have inflation. And

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I do believe if Kamala Harris gets in and implements

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the strategies that she wants to do, that's exactly what's

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going to happen to our economy. I'm concerned about our economy.

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We have way too much debt. Nobody wants to look

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at it, and this is both sides. They talk about it,

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but what are they going to do. They both want

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to go ahead and just increase cutting taxes, one for everybody,

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one for just the middle class, and increase it on

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the other side for the rich. That doesn't ever work.

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They want to stimulate the economy, which I'm concerned will

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be inflationary if we don't have will supply supply demand.

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The one thing I do think that Harris said that

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was right is we got to increase the supply of

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homes if we want to bring the price down. She

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did say, and I don't believe one word. She says

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that she will cut through the red tape and make

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it easier for builders to build. The only person I

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know that does that is Trump. I've never seen the

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left cut regulations, cut through the red tape, making things easier.

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The only things I've ever seen on the left is

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increase regulations, increase enforcement of irs, increase course to businesses.

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I've never seen the other side of it ever, and

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I don't believe you'll see it now. The words that

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come out of Harris's mouth sound like a Republican almost

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when it comes to the economy, cutting taxes increased the

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middle class, get stimulating the housing market, increase the supply,

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get prices down, get gas prices down. But they don't

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know how to do it. That is the problem. And

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the other problem I have is that is so clear,

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which makes my head spin that people don't realize that

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they have been lying, lying for eight years, probably longer,

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but ever since they started with that Russian collusion and

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tried not once but twice at least they try to

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get rid of Trump because the things he did or said,

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made stories up. Is incredible that they don't think that

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we know that they make these things up in line

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and the media is the one to blame for everything.

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But as we've gone through this, even with Biden, even

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in the last year two years, they lied about Biden's

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laptop during this presidency. Fifty some are CIA and operatives

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and FBI operatives swore that that was Russian disinformation and

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there was no way that's a probable when they knew

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that the laptop was Hunter Biden's, they lied straight to

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our face. Then you had this press secretary about six

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seven months ago, not even five months ago, telling us

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that what we see is not what you really see. Well,

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we see the deterioration of President Biden. It was make

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believe it was ai, it was artificial everything. They lied

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right to our face when we see it. We had

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people that were there physically that saw his deterioration, but

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they denied it, and they backed them, and the media

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backed them, and they lied about the whole thing until

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they no longer thought he could win the election and

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allowed the media to expose the fact that he wasn't

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capable of running the United States, which he's never has been,

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and they knew it, so they exposed them and allowed

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them to fail with a plan to quickly usher in

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somebody else. Now, I'm not so sure that they planned

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them putting Harrison immediately, because she certainly wasn't their favorite,

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wasn't Biden's favorite, and wasn't America's favorite. But for some

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reason on the left, they think that's the way to

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go right now because they don't want to be honest

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about the fact that Trump was a good president. Yes

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he's an egotist, Yes he's a narcissist, but he's not

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a tyrant, he's not a Nazi, he's not Hitler. He

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is there to help America be strong and do the

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right things. He absolutely brings in people that do not

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agree with him. He absolutely does things trying to learn,

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and a second term of a Trump understanding what goes

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on and how it goes on will be so much

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better than the first. The biggest thing that I was

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listening to, like the Joe Rogan podcast that they had

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one are the things that hit me strong about out

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that was when he first said he was going for

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presidency twenty fourteen or fifteen. Those bozos on the View

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had him on and they was a love fest because

241
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before he became president, everybody in New York wanted to

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be part of Trump, wanted to work for Trump, wanted

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to be his friend, wanted to go to his parties,

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wanted to be in his social presence, wanted to be

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part of his whole life. Everybody on the View hugged

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them and told them they loved him and that he

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was great and what he did for New York was great.

248
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But as soon as he became president, they all turned

249
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on him. When the media machine said, ooh, we have

250
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an outsider here, this is no good and where'd that

251
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come from? That came from the insiders in Washington that

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so ooh, we might get exposed that we're not really

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here for the American peace. And that is a problem

254
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because it never got better. It never got better. Think

255
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about all the lies that they told us straight to

256
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our face. And then what three days ago, four days

257
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ago we hear with our own ears and see with

258
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her own eyes biting on his laptop doing a zoom

259
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to America calling people support as a Trump garbage? And

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man have they lied about? Oh, you didn't say that.

261
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He just referred to one. There's an apostrophe. What are

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you talking about if you if you're so ignorant that

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you have to think that this was not aimed at it.

264
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Think about all the other comments that are there. So

265
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think about what goes on with closed doors when they

266
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do when the media is not around, when you can't

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catch stuff, what they really think about the other half

268
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of America? And they both lie about being unity and

269
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doing the best for all they do. They want power

270
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for themselves. They want power for themselves, and all they

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do is turn and twist the words of Trump to

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make them out to be such a bad, bad person.

273
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The more I listen to him, the more I think

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is who we need right now? We need someone that's

275
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going to be tough on the border, tough on crime,

276
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tough on foreign affairs, tough on climate, tough on people

277
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paying their fair share. Their left always talks about their

278
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fair share, except when it becomes international and we have

279
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to be the ones forking out all the money. Tough

280
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on the bad actors. Realize we all know that North

281
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Korea has now put in at least ten thousand troops

282
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that we know of into Russia the help fight the

283
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Ukraine War. Seriously, you don't think that's elevated the war.

284
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We need Israel to get that Middle East in shape,

285
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and they're doing it. And I know people come down

286
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on Israel all the time, especially with the civilians that

287
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casualties that happen. I get it. It's a shame, But

288
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think about war, think about the stuff that you.

289
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Have to do.

290
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They worry about that. But yet, like Trump got in

291
00:19:36.799 --> 00:19:40.440
trouble the other day talking about politicians. I know he

292
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used a few other words, and he gets into the

293
00:19:42.440 --> 00:19:44.799
gray area with Liz Cheney. I'm not gonna say no,

294
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but we all know what he meant. It's hey, Liz

295
00:19:47.720 --> 00:19:51.640
Cheney and the rest of politicians, if you had to

296
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go to war and you had somebody looking to kill you.

297
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Would you be that quick to send you the troops

298
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in if you were one of them? I get that,

299
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I know exactly what he was saying. Okay, no, they wouldn't.

300
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And you know why, it's because I've said this for

301
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twenty five thirty years on this show plus that if

302
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the politicians had the same pension plan, same retirement plan,

303
00:20:18.440 --> 00:20:22.599
same healthcare plan that we do, it would be changed.

304
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Why isn't every single politician on Obamacare that they say

305
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is the greatest thing in the world. Why aren't they

306
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on the same social security system that we are. Why

307
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do they get a pension full pension if they work

308
00:20:38.359 --> 00:20:40.519
two terms? Okay?

309
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Why?

310
00:20:41.799 --> 00:20:46.000
How how is that possible? They work two terms, then

311
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they get a pension for the rest of their life.

312
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You and I work thirty forty years to be able

313
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to hope that we have enough to retire. They work

314
00:20:59.640 --> 00:21:02.400
six eight years, and they get a pension for the

315
00:21:02.440 --> 00:21:09.000
rest of their life. They walk into Congress would hardly anything,

316
00:21:09.079 --> 00:21:14.000
most of them and come out multi millionaires, sometimes fifty

317
00:21:14.000 --> 00:21:18.200
one hundred and two hundred or more millionaires. Are you

318
00:21:18.359 --> 00:21:23.200
kidding me? It doesn't make sense and they're never going

319
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to change? What would fix it, which is term limits.

320
00:21:25.720 --> 00:21:28.440
You know that, and I know that. So when they

321
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say they would change or they would do this, or

322
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they would do that, they don't and they never have

323
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because they would have the same medical and same pension

324
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that you and I all try to get. They want

325
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to control, they want socialism, They want to take from

326
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the rich who have money and they feel have too

327
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much power over them and bring it down. And I

328
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cannot believe that the left list don't believe that. They

329
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don't lie about stuff. It's right there in front of us.

330
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But the media, to me, is the ones to blame

331
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the most. They and if you think about it, think

332
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of why the press. People don't get papers that much magazines.

333
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I know, things on computer and all this other stuff,

334
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but they skip to it because, you know what, no

335
00:22:22.839 --> 00:22:28.960
one really believes the stuff anymore. They don't. None of

336
00:22:29.000 --> 00:22:33.200
the big papers even in supported either president. Well, they

337
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wouldn't support Trump, but that's besides the point. They didn't

338
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even come out for support of Harris. Why because they

339
00:22:40.119 --> 00:22:43.240
agree that most people don't even care anymore because they

340
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don't trust the media, and nobody trusts the media. And

341
00:22:47.039 --> 00:22:51.720
then you get that press secretary for Biden up there,

342
00:22:51.839 --> 00:22:56.079
lying every single day, twisting every single word, and it's like,

343
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are you kidding me? So now we look at where

344
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we are, and we have to go into Tuesday, and

345
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I know most of you that are listening are hoping

346
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that Trump gets in and we control the center of

347
00:23:07.160 --> 00:23:10.799
the House, or at least one of them, and move forward.

348
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Move forward with shutting the borders, move forward with her economy,

349
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move forward with the truth. First of all, the truth.

350
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And don't tell me he lies about everything. Doesn't exaggerate,

351
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Yes he does, but he tries to bring out stuff

352
00:23:26.119 --> 00:23:29.240
that's going on. He tells us the truth pretty much

353
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of what's going on. Every president has secrets. They have

354
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to have secrets. Look what they're dealing with, Okay, tough

355
00:23:37.359 --> 00:23:40.559
on crime? We need that. I mean they act like

356
00:23:40.599 --> 00:23:42.640
it's not we don't have a crime problem in the

357
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cities and stuff. We have a crime problem before the

358
00:23:45.279 --> 00:23:49.279
boarders were open and the people infiltrated us. Look at Chicago,

359
00:23:49.319 --> 00:23:53.279
look at it La, Look at all these these poor places. Yes,

360
00:23:53.319 --> 00:23:57.079
we need more housing. You think Harris knows how to build, No,

361
00:23:57.400 --> 00:23:59.559
Trump's the one that knows how to build. You just

362
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think how it's in that group it's gonna go ahead

363
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and we dose regulations.

364
00:24:03.160 --> 00:24:03.200
No.

365
00:24:03.640 --> 00:24:07.319
Trump has already proven he will do it. So if

366
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you want a great economy, then you just vote for

367
00:24:10.960 --> 00:24:13.400
Trump because he will get us to where we need

368
00:24:13.440 --> 00:24:16.680
to go before we get there, and then we will

369
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be happy and then we can deal with all the

370
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other crap that's going on and make America great again.

371
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Be back, Thank you for listening to the Money Matter Show.

372
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Welcome back everybody. It's the Money about the show. This

373
00:24:34.359 --> 00:24:38.200
is Team Greenberg. I got Dave Sherewood had glicking, Dylan

374
00:24:38.240 --> 00:24:43.200
Greenberg here with us today. Well, you know what, another

375
00:24:43.279 --> 00:24:44.000
month done.

376
00:24:47.039 --> 00:24:50.680
Again, second down, second down month of this year. April

377
00:24:50.839 --> 00:24:53.079
was the only one one, and with one day left

378
00:24:53.119 --> 00:24:56.519
to go, we were going for a ninth up month

379
00:24:56.599 --> 00:24:59.599
out of ten. And then came Halloween and Halloween was

380
00:24:59.720 --> 00:25:00.799
very poky for the market.

381
00:25:01.759 --> 00:25:05.960
It was, and what spooked them was the fact that, oh,

382
00:25:06.799 --> 00:25:09.319
well they're spending on AI might not deliver the earnings

383
00:25:09.359 --> 00:25:11.279
we need right now down and down the road. Yeah,

384
00:25:11.279 --> 00:25:14.039
because they beat the earnings, but they're concerned about the

385
00:25:14.119 --> 00:25:17.839
money that there spending and the ri R O I

386
00:25:18.079 --> 00:25:22.480
on it right and on the ri A Yeah, I

387
00:25:22.599 --> 00:25:25.480
know guys. And the bottom line is, at the end

388
00:25:25.480 --> 00:25:28.839
of the day, what do they think it's gonna happen.

389
00:25:28.920 --> 00:25:31.680
It's years, that's just stuff is going to pan out. Yeah,

390
00:25:31.759 --> 00:25:33.559
you've got and you've got to be involved. Yeah, or

391
00:25:33.559 --> 00:25:34.839
you're gonna get leut behind. I know.

392
00:25:35.240 --> 00:25:38.440
It's just what a busy week last week, What a

393
00:25:38.519 --> 00:25:41.319
busy week next week? Still twenty percent of the S

394
00:25:41.400 --> 00:25:44.319
and P five hundred to report earnings. On top of that,

395
00:25:44.440 --> 00:25:47.119
we've got the election, We've got the FED decision on

396
00:25:47.240 --> 00:25:51.119
interest rates, and and all of those earnings reports. A

397
00:25:51.200 --> 00:25:52.319
lot going on next week.

398
00:25:52.559 --> 00:25:54.359
Yeah, but it also you know what you say next

399
00:25:54.400 --> 00:25:56.400
week with the presidential election, I mean, I feel like

400
00:25:57.839 --> 00:26:00.240
based on the odds in the in Vegas and all

401
00:26:00.279 --> 00:26:03.200
the people that are actually putting money behind their decisions,

402
00:26:03.240 --> 00:26:05.559
it seems like Trump has a pretty good lead headed

403
00:26:05.559 --> 00:26:06.200
in and Tuesday.

404
00:26:06.400 --> 00:26:08.079
It seems to people put their money where.

405
00:26:09.880 --> 00:26:13.400
Yeah. No, But the bookies think about this though, But

406
00:26:13.519 --> 00:26:17.640
the bookies don't look at the bookies hedge. That's a

407
00:26:17.680 --> 00:26:20.039
different thing. I'm talking about the bookies. Right when they

408
00:26:20.200 --> 00:26:23.519
put their odds, there's a reason because they know something right,

409
00:26:23.640 --> 00:26:26.759
and so it's just really interesting in Vegas, how heavily

410
00:26:26.839 --> 00:26:29.519
skewed it is to Trump. And then you look at

411
00:26:29.519 --> 00:26:33.160
the poles and it's like fifty to fifty pretty much

412
00:26:33.200 --> 00:26:38.039
if you no Harris is, which is which is crazy.

413
00:26:38.039 --> 00:26:40.160
But then they always find a root for ha to

414
00:26:40.240 --> 00:26:41.920
be able to get done to the two hundred and

415
00:26:41.960 --> 00:26:43.079
seventy electoral vaults.

416
00:26:43.079 --> 00:26:44.720
Well, that's why I think the poles are so dumb

417
00:26:44.799 --> 00:26:46.279
to look at now, because if you look at the

418
00:26:46.519 --> 00:26:48.920
gambling again, that is where people like the bookies have

419
00:26:49.039 --> 00:26:51.079
to hedge their books, and so they're going to make

420
00:26:51.079 --> 00:26:53.640
sure they know what's going on, and it's very interesting.

421
00:26:53.640 --> 00:26:55.759
And then with the Fed meeting, what we also have

422
00:26:56.359 --> 00:26:58.839
is the bond market's pretty much saying it's for sure

423
00:26:58.920 --> 00:27:01.559
that they're holding rates. Yeah, it doesn't seem like there's

424
00:27:01.599 --> 00:27:03.559
any way that the Fed can cut rates in this

425
00:27:03.640 --> 00:27:04.119
next maete.

426
00:27:04.200 --> 00:27:08.119
Ninety eight percent probability that they'll cut as of this morning,

427
00:27:08.119 --> 00:27:10.799
as of Friday morning, I think that I.

428
00:27:10.839 --> 00:27:12.799
Think they're gonna state of the award and cut this time.

429
00:27:12.839 --> 00:27:16.920
They might not cut next time, you know, or are

430
00:27:16.960 --> 00:27:18.920
they telling us it's the real problems that why they

431
00:27:19.000 --> 00:27:21.720
went fifty bases points the first time. See see they

432
00:27:21.799 --> 00:27:24.240
get information. We don't see, that's true. We get we

433
00:27:24.319 --> 00:27:26.240
get this late information and then they we get the

434
00:27:26.319 --> 00:27:30.559
corrective information. They know they get information, and they can

435
00:27:30.640 --> 00:27:33.200
talk to them and find out. Okay, why was that

436
00:27:33.279 --> 00:27:34.799
twelve thousand not one hundred thousand?

437
00:27:34.920 --> 00:27:38.200
You know what I mean about their jobs number on Friday? Right, Yeah,

438
00:27:38.240 --> 00:27:41.759
twelve thousand new jobs versus expectations of one hundred and

439
00:27:41.839 --> 00:27:44.039
that was kind of poo poo because of the boweying

440
00:27:44.200 --> 00:27:47.920
strike and the hurricane. Right, and wow, those are factors

441
00:27:47.960 --> 00:27:48.519
that enteredyan.

442
00:27:48.960 --> 00:27:51.240
What about when there was eight hundred thousand less jobs

443
00:27:51.680 --> 00:27:53.160
that they that told us.

444
00:27:53.319 --> 00:27:55.559
Well, and they were revised downward by one hundred and

445
00:27:55.640 --> 00:27:57.519
twenty thousand jobs the last two months.

446
00:27:57.640 --> 00:27:59.960
Right, they wanted to look good, that's the thing. Maybe

447
00:28:00.079 --> 00:28:02.799
it's not, maybe they know it's not, but that's what

448
00:28:02.920 --> 00:28:05.319
they've been telling America. Oh look at all this job growth.

449
00:28:05.519 --> 00:28:07.839
Yeah, well, the bond market is starting to really disagree

450
00:28:07.880 --> 00:28:10.720
with the Fed at this point. Yes, yeah, it's a

451
00:28:10.799 --> 00:28:12.160
it's a huge divergence.

452
00:28:12.599 --> 00:28:16.480
The intertrates have risen steadily since they cut rates steadily,

453
00:28:17.240 --> 00:28:19.119
and I think there's a lot of people concerned about

454
00:28:19.200 --> 00:28:22.319
inflation reigniting if they're too aggressive on these rate cuts.

455
00:28:22.480 --> 00:28:24.200
It is very interesting that you have a ninety eight

456
00:28:24.240 --> 00:28:27.759
percent chance of a rate cut next week, but the

457
00:28:27.880 --> 00:28:29.200
rates are not pricing that in.

458
00:28:29.400 --> 00:28:30.160
It makes no sense.

459
00:28:30.240 --> 00:28:32.640
So if they don't cut the rates, what happens. If

460
00:28:32.640 --> 00:28:34.720
they do cut the rates, what happens. I think it's

461
00:28:34.920 --> 00:28:36.519
a bad, bad situation either way.

462
00:28:36.799 --> 00:28:39.880
Yeah, I mean, I felt like the market was expecting

463
00:28:40.000 --> 00:28:41.440
that they're not going to get a cut, just because

464
00:28:41.440 --> 00:28:44.559
of how interest rates have kept going higher. But yeah,

465
00:28:44.599 --> 00:28:46.960
I mean, I guess the Fed is not doesn't care.

466
00:28:47.119 --> 00:28:49.039
I mean, they say they're data dependent. If they are,

467
00:28:49.319 --> 00:28:51.440
the data says they should not be cutting rates.

468
00:28:52.240 --> 00:28:54.519
As I was looking to see what the big headline is.

469
00:28:54.599 --> 00:28:56.319
A big headline for next week is kind of a

470
00:28:56.400 --> 00:29:01.960
toss up between the time change, which impacts almost no

471
00:29:02.039 --> 00:29:04.920
one who's listening, but it does impact the market, and

472
00:29:05.039 --> 00:29:07.160
if you're in the market trading the market it open

473
00:29:07.240 --> 00:29:09.759
to seven thirty starting on Monday for the next four

474
00:29:09.799 --> 00:29:11.960
months and closer to two thirty.

475
00:29:12.920 --> 00:29:15.000
I thought they were getting rid of that. I'm sorry

476
00:29:15.000 --> 00:29:16.880
to close it too. Didn't they talk about getting rid

477
00:29:16.920 --> 00:29:18.559
of that? No, Yeah, totally.

478
00:29:19.519 --> 00:29:23.079
They recently talked about extending pre market and aftermarket.

479
00:29:22.640 --> 00:29:23.759
To twenty not the market.

480
00:29:23.839 --> 00:29:26.279
Yeah, I save you time. No, there's people that would

481
00:29:26.359 --> 00:29:28.000
like it to go away, but it's been and it

482
00:29:28.079 --> 00:29:30.119
effects it nineteen oh eight, so it's going to.

483
00:29:30.119 --> 00:29:30.519
Go they did.

484
00:29:30.599 --> 00:29:32.319
Biden said he was gonna get rid of it, but they.

485
00:29:32.279 --> 00:29:34.839
Actually expanded it from six months to eight months about

486
00:29:35.240 --> 00:29:38.200
what ten fifteen years ago, and I remember that and

487
00:29:38.200 --> 00:29:39.519
then I thought they said they would get rid of it.

488
00:29:39.680 --> 00:29:41.240
And there's also a group that wants it to be

489
00:29:41.359 --> 00:29:44.480
year round. So who knows. But the bottom line is

490
00:29:44.519 --> 00:29:47.160
in Arizona, we don't go by it, but if you're

491
00:29:47.240 --> 00:29:50.039
involved with the market, it's an impact. And if you

492
00:29:50.240 --> 00:29:54.160
if you watch sports, impacts absolutely impacts the sports.

493
00:29:54.240 --> 00:29:57.880
And it's interesting because that report about extending pre market

494
00:29:57.960 --> 00:30:00.720
aftermarket would make a twenty two hour cycle.

495
00:30:01.079 --> 00:30:03.640
Charles was talking about making a twenty four hour trading.

496
00:30:03.759 --> 00:30:05.880
Yeah, I think because of how global everything is now,

497
00:30:06.400 --> 00:30:09.240
and they're saying that like the pre market aftermark needs

498
00:30:09.279 --> 00:30:11.200
to be longer. Most people don't have access to that

499
00:30:11.599 --> 00:30:13.640
but institutions and yeah, well.

500
00:30:13.559 --> 00:30:14.920
Then then screws the guy again.

501
00:30:15.160 --> 00:30:17.039
The little guy, not just somebody calling you at eight

502
00:30:17.079 --> 00:30:19.319
o'clock at night, wanted to put in an aftermarket trade.

503
00:30:19.880 --> 00:30:23.200
Yeah. Well if they talked about that seriously a couple

504
00:30:23.279 --> 00:30:24.920
of times within the last ten years, and it just

505
00:30:25.000 --> 00:30:27.200
kind of goes away. I don't think most of the

506
00:30:27.279 --> 00:30:28.960
market participants want it, but.

507
00:30:29.119 --> 00:30:31.680
More and more as the world becomes more and more global.

508
00:30:32.599 --> 00:30:36.200
But those people can trade, They can trade overseas, they

509
00:30:36.240 --> 00:30:38.200
can trade a lot of the New York Soccer Exchange

510
00:30:38.240 --> 00:30:38.920
in London.

511
00:30:39.640 --> 00:30:42.519
Yeah, you just can't have American books during that.

512
00:30:42.799 --> 00:30:45.440
Yeah, I mean they can. The bottom line, at the

513
00:30:45.519 --> 00:30:47.279
end of the day, it would not be good. The

514
00:30:47.359 --> 00:30:50.440
stress level would be off the charts. It's hard. It's

515
00:30:50.480 --> 00:30:52.640
bad enough that we all, you know, wake up in

516
00:30:52.640 --> 00:30:54.240
the middle of night. We look at what the futures and.

517
00:30:54.599 --> 00:30:56.680
Well, think about four X traders. That's a twenty four

518
00:30:56.720 --> 00:31:00.279
hours six days and bitcoin, well that's that's always But

519
00:31:00.559 --> 00:31:02.839
the four six days a week, twenty four hours, and

520
00:31:02.920 --> 00:31:04.680
the traders never get a break.

521
00:31:04.759 --> 00:31:06.119
It'd be a sick game. If it was a twenty

522
00:31:06.119 --> 00:31:07.279
four hour trade a market.

523
00:31:07.160 --> 00:31:09.559
It would be because the nine time hours will be

524
00:31:09.680 --> 00:31:12.200
very thinly traded and stocks would just be bouncing all

525
00:31:12.240 --> 00:31:16.000
over the price ridiculous spread. The other big story is

526
00:31:16.519 --> 00:31:18.440
for those of us here in Tucson. Is the change

527
00:31:18.480 --> 00:31:22.720
in the weather. We're going from summer straight to winter.

528
00:31:23.039 --> 00:31:25.240
Dean loves when I talk about the weather, because.

529
00:31:26.000 --> 00:31:28.559
Well, you can't preface this conversation with like the biggest

530
00:31:28.599 --> 00:31:31.319
headline of this next week. It's obviously not the.

531
00:31:32.039 --> 00:31:34.960
Well, if it goes from ninety degrees to sixty degrees

532
00:31:35.000 --> 00:31:38.359
and you're outside a lot, that's a big headline. We're

533
00:31:38.400 --> 00:31:40.640
going straight from summer to winter. And I've lived here

534
00:31:40.720 --> 00:31:42.720
fifty two years, and every now and then that happened.

535
00:31:43.000 --> 00:31:45.000
Like, I care more about the weather than who's going

536
00:31:45.039 --> 00:31:47.319
to be running the Tesla range.

537
00:31:48.039 --> 00:31:50.759
It's gonna help it. Yeah, I've noticed my Tesla range

538
00:31:50.799 --> 00:31:52.759
has been picking up. Is this cool down a little bit?

539
00:31:53.079 --> 00:31:53.240
Yeah?

540
00:31:53.279 --> 00:31:55.720
But if it gets too cold, well, it's too cold,

541
00:31:55.920 --> 00:31:59.279
is like twenty twenty degrees, it's not gonna happen.

542
00:31:59.440 --> 00:32:02.319
Suck me in to it. He got me into Tesla talk.

543
00:32:02.880 --> 00:32:06.720
So let's talk about Evan, I know, I know you

544
00:32:06.839 --> 00:32:07.640
love talking about.

545
00:32:07.720 --> 00:32:10.160
Let's talk about the bank itself. Let's talk about what

546
00:32:10.279 --> 00:32:12.559
do you guys feel what's going to happen if if

547
00:32:12.599 --> 00:32:14.680
Harris gets in or Trump gets in, you think there's

548
00:32:14.799 --> 00:32:17.359
gonna be a difference at the U for the next

549
00:32:17.440 --> 00:32:17.880
two months.

550
00:32:18.240 --> 00:32:20.559
Well, if somehow Harris gets in, I think you're gonna

551
00:32:20.640 --> 00:32:24.000
see some energy plays get get a bid, so like

552
00:32:24.119 --> 00:32:26.880
the solar companies and some of the you know, the

553
00:32:27.359 --> 00:32:30.839
maybe uranium and probably would fall off, and you know,

554
00:32:31.079 --> 00:32:34.079
things like bitcoin might sell off. And you know, because

555
00:32:34.119 --> 00:32:37.160
there's been some trades that have been really dominated because

556
00:32:37.200 --> 00:32:39.839
of Trump's odds of winning. Have you know, we've seen

557
00:32:39.920 --> 00:32:42.799
things like DJT obviously it hits had a very volatile week,

558
00:32:42.880 --> 00:32:45.359
but you've seen things that have been somewhat related to

559
00:32:45.440 --> 00:32:47.519
Trump get a bid over these last few weeks that

560
00:32:47.559 --> 00:32:50.200
says odds have been increasing. So if somehow that would

561
00:32:50.400 --> 00:32:53.119
not come to fruition, obviously those would sell off and

562
00:32:53.200 --> 00:32:55.240
the opposites would gain. But other than that, I don't

563
00:32:55.240 --> 00:32:57.680
think the indices as a whole would have much of

564
00:32:57.720 --> 00:33:02.960
an impact about the company. Dj T crazyh Yeah, I

565
00:33:03.000 --> 00:33:03.960
think that would fall off.

566
00:33:04.319 --> 00:33:08.759
Oh yeah, if you lost, it might fall off regardless

567
00:33:08.759 --> 00:33:10.880
of who how it comes out, because it's been kind

568
00:33:10.880 --> 00:33:13.720
of a bet on his The stock was twelve dollars

569
00:33:13.799 --> 00:33:16.799
a share five weeks ago, went to fifty six last week,

570
00:33:17.359 --> 00:33:20.200
and finished up the week around thirty. Again, the intrinsic

571
00:33:20.319 --> 00:33:23.240
value is somewhere around a dollar. Somewhere around a dollar.

572
00:33:23.319 --> 00:33:25.720
The company only had four million in revenue. Revenue.

573
00:33:25.880 --> 00:33:29.759
Yeah, so you're talking about specifically Overwall. I don't know

574
00:33:29.839 --> 00:33:32.519
what happened. I mean, you know, that's why I was

575
00:33:32.559 --> 00:33:35.799
thinking earlier my monologue. I think it's going to be

576
00:33:35.839 --> 00:33:37.400
both ways between down on the end of the I

577
00:33:37.400 --> 00:33:40.400
think if the market falls off big, you know, in November,

578
00:33:40.400 --> 00:33:42.480
I think it'll rally big back in December. If it

579
00:33:42.559 --> 00:33:44.960
goes up more in November, I think it'll fall off

580
00:33:45.000 --> 00:33:45.519
in December.

581
00:33:45.720 --> 00:33:45.920
Yeah.

582
00:33:46.000 --> 00:33:47.880
I think that's the reactually good happen. We don't have

583
00:33:47.920 --> 00:33:51.039
a lot more money to come in from the sidelines, okay,

584
00:33:51.559 --> 00:33:54.519
to propel us higher until we get into the January

585
00:33:54.559 --> 00:33:59.039
February March period. So I honestly think the volatility is

586
00:33:59.079 --> 00:33:59.720
going to increase.

587
00:34:00.000 --> 00:34:03.440
And if Trump wins, China stocks get slammed, Ali Baba.

588
00:34:03.599 --> 00:34:03.839
Yeah.

589
00:34:04.039 --> 00:34:06.000
Probably He's been talking a lot of terriffs. I mean,

590
00:34:06.079 --> 00:34:09.079
international companies as a whole probably get hurt if Trump wins.

591
00:34:09.440 --> 00:34:13.480
But remember, you know we talk about taris and stuff, right, terrors,

592
00:34:14.039 --> 00:34:17.440
We have tarots some stuff. Now people have tarifs on us.

593
00:34:18.119 --> 00:34:20.679
They act like it's going to be this huge increase, right,

594
00:34:21.239 --> 00:34:23.000
you know, they sit there and say, well, if he

595
00:34:23.119 --> 00:34:26.480
puts on all these tarots are gonna be thousand dollars more.

596
00:34:26.679 --> 00:34:32.119
He's talking hu family, right, It's cost us so much

597
00:34:32.159 --> 00:34:34.960
more than four thousand dollars of family. Now with the

598
00:34:35.000 --> 00:34:39.239
way Biden and Harris's run the country, the inflation, what

599
00:34:39.440 --> 00:34:42.519
is it you need for every thousand, one hundred dollars

600
00:34:42.840 --> 00:34:45.440
You need one hundred and eighty five dollars now to

601
00:34:45.519 --> 00:34:47.639
be in the same situation you were four years ago.

602
00:34:48.239 --> 00:34:50.440
Both of them are giving away anything they can think

603
00:34:50.519 --> 00:34:52.360
of to give away, and we don't have any money

604
00:34:52.440 --> 00:34:55.199
to do it exactly. So it's ridiculous. No one's talking

605
00:34:55.199 --> 00:34:56.199
about cutting the deficit.

606
00:34:57.199 --> 00:34:59.400
Yeah, I mean, but ultimately, if he does one hundred

607
00:34:59.400 --> 00:35:02.719
to two hundred percent tariff, it does change the game drastically.

608
00:35:02.840 --> 00:35:04.800
Well, if you got one hundred to two hundred percent, yes,

609
00:35:05.119 --> 00:35:07.840
But what I'm saying is we have tarists on. He

610
00:35:07.920 --> 00:35:10.360
had tariffs before, they've kept a tarifs on. They have

611
00:35:10.559 --> 00:35:12.840
to be done the right way. Yeah, but here's the thing.

612
00:35:13.159 --> 00:35:15.239
If you're going to put tariffs on and you're going

613
00:35:15.320 --> 00:35:17.760
to do that. The other side of it is you've

614
00:35:17.800 --> 00:35:21.280
got to start manufacturing this stuff in America. America, and

615
00:35:21.400 --> 00:35:24.519
now that we're used to people getting twenty twenty five

616
00:35:24.599 --> 00:35:28.159
dollars an hour and paying more, we can bring it

617
00:35:28.320 --> 00:35:32.239
back to do it because technology today and AI will

618
00:35:32.280 --> 00:35:35.760
make manufacturing cheaper than one of ten, fifteen, twenty years ago.

619
00:35:36.320 --> 00:35:38.880
Right now, we can go ahead and afford to pay

620
00:35:39.000 --> 00:35:41.360
the people the money that they need to work here

621
00:35:41.440 --> 00:35:44.840
to be able to support it. We're there, I mean,

622
00:35:44.960 --> 00:35:48.920
face it, twenty dollars is there now. So we're going

623
00:35:48.960 --> 00:35:51.800
to talk about it because I do believe. First of all,

624
00:35:51.840 --> 00:35:53.320
I won't get all the tariffs, but I do believe

625
00:35:53.320 --> 00:35:54.960
we can bring the stuff back. We'll be right back.

626
00:35:55.199 --> 00:36:04.199
It's the Money Matter Show. We appreciate your welcome back, everybody.

627
00:36:04.440 --> 00:36:06.360
This is the Money bout his show. You got everybody

628
00:36:06.400 --> 00:36:09.639
here today, and I hope that, uh, you get excited

629
00:36:09.679 --> 00:36:12.679
about Tuesday, because next week when we come back, we're

630
00:36:12.679 --> 00:36:13.920
gonna have a whole nother conversation.

631
00:36:14.320 --> 00:36:16.960
Maybe maybe we'll have a president, maybe we won't, who knows.

632
00:36:17.239 --> 00:36:19.599
Yeah, well that's another thing. If we don't have a president,

633
00:36:19.639 --> 00:36:21.880
you're going to see the markets not like confusion.

634
00:36:21.960 --> 00:36:23.840
Well you know that. You know that no matter how

635
00:36:23.920 --> 00:36:25.559
it works out, it's going to be closed and then

636
00:36:25.599 --> 00:36:28.039
the oder's gonna be yelling foul. Uh.

637
00:36:28.559 --> 00:36:30.719
The funny thing is all you hear is Trump's got

638
00:36:30.760 --> 00:36:32.719
all these lawyers. Trump is going to stop the election.

639
00:36:32.880 --> 00:36:34.920
It's going to be another January sixth if he doesn't win.

640
00:36:36.960 --> 00:36:41.119
Do you realize how much many lawyers that the Democrats

641
00:36:41.199 --> 00:36:45.679
have every place ready to do the same thing. We

642
00:36:45.719 --> 00:36:51.039
resolve the problem Election Day, National Holiday. Vote like we

643
00:36:51.159 --> 00:36:54.199
always did before. You don't want to vote, that's your problem.

644
00:36:55.000 --> 00:36:58.440
Fair elections. We got to somehow get fair elections. Bad

645
00:36:58.480 --> 00:37:00.639
people don't believe the elections are fair. I don't know

646
00:37:00.719 --> 00:37:04.320
how you fix that, honestly, don't especially having people.

647
00:37:04.119 --> 00:37:07.199
To show up with a voter registration, a voter ID

648
00:37:07.920 --> 00:37:11.000
that says I'm an American, I'm allowed to vote.

649
00:37:11.960 --> 00:37:14.440
You ever wonder what happens to all of the mogney

650
00:37:14.920 --> 00:37:18.440
when the election's over. Well you think about that, because

651
00:37:18.519 --> 00:37:22.199
you've got people on Friday, Saturday, Sunday, you know, the

652
00:37:22.400 --> 00:37:24.519
day before the election, the day of the election, you know,

653
00:37:24.599 --> 00:37:27.199
send twenty bucks and fifty bucks. You know, we ever

654
00:37:27.280 --> 00:37:32.159
wonder what happens to all that money. No, they actually

655
00:37:32.239 --> 00:37:33.000
they actually don't.

656
00:37:33.519 --> 00:37:35.119
The politicians don't don't keep it.

657
00:37:35.199 --> 00:37:37.039
They're not allowed to keep they're not allowed to spend

658
00:37:37.079 --> 00:37:39.440
it on personal use. So much not.

659
00:37:39.599 --> 00:37:42.000
But they're political endeavors, they.

660
00:37:41.920 --> 00:37:45.119
Are, okay, So the Federal Election Commission as rules about

661
00:37:45.119 --> 00:37:48.559
what happens with the money. However, one of the acceptable

662
00:37:48.719 --> 00:37:51.400
uses of the money, one of the acceptable uses is

663
00:37:51.480 --> 00:37:55.000
the creation of a pack to back other candidates and

664
00:37:55.039 --> 00:37:55.960
political agendas.

665
00:37:56.440 --> 00:37:57.519
And those.

666
00:37:59.000 --> 00:38:02.800
Packs are run by the candidate, which is where critics

667
00:38:02.840 --> 00:38:07.559
say there's a umpteen chances for problems there. But think

668
00:38:07.599 --> 00:38:10.079
about the amount of money. The estimates are that there'll

669
00:38:10.119 --> 00:38:15.599
be nine billion dollars spent on political campaigns on the

670
00:38:15.719 --> 00:38:20.920
national level this year, nine billion dollars. Estimates are there'll

671
00:38:20.920 --> 00:38:24.239
be about two hundred and fifty million dollars left over

672
00:38:25.159 --> 00:38:30.599
in candidate's coffers after that's done. Kind of interesting, you know, Dean,

673
00:38:30.679 --> 00:38:34.920
you talked about the voters show up with a ID

674
00:38:35.239 --> 00:38:38.400
and uh and and vote on election day. Did you

675
00:38:38.480 --> 00:38:41.280
notice that the member of Virginia was trying to purge

676
00:38:41.400 --> 00:38:46.039
the voters right and federal judge says you can't do that.

677
00:38:46.920 --> 00:38:49.159
So they took it to the Supreme Court. Supreme Court says, yeah,

678
00:38:49.199 --> 00:38:52.239
you can. Oh this was last week. Yeah, we vosted again,

679
00:38:52.519 --> 00:38:57.000
reversed nod. Wait, you can't reverse the Supreme Court just

680
00:38:57.039 --> 00:38:59.400
got safe. How do you reverse the Supreme Court.

681
00:38:59.280 --> 00:39:05.119
On their appeal? So so another court upheld the appeal,

682
00:39:05.559 --> 00:39:07.360
so they were able to take them off the both

683
00:39:07.400 --> 00:39:07.559
of you.

684
00:39:08.400 --> 00:39:10.519
You can't. There's something wrong with that because I have

685
00:39:10.599 --> 00:39:12.519
to look up into this little more. You can't appeal

686
00:39:12.559 --> 00:39:13.360
to the Supreme Court.

687
00:39:13.480 --> 00:39:15.800
I'm telling you. It was appealed and it was taken away.

688
00:39:16.199 --> 00:39:19.760
And young Sid Youngkin was on yesterday talking about how

689
00:39:20.239 --> 00:39:22.280
he didn't understand how the Supreme Court first did it,

690
00:39:22.320 --> 00:39:26.719
but he appreciates the appeals court doing it, appreciation the appeal.

691
00:39:27.119 --> 00:39:30.239
That is interesting because David is right, Supreme Court.

692
00:39:30.079 --> 00:39:32.719
He can't appeal the court wasn't it was the Supreme

693
00:39:32.920 --> 00:39:34.360
the United States Supreme Court.

694
00:39:34.599 --> 00:39:36.280
Wasn't or was it the Virginia Supreme Court.

695
00:39:36.400 --> 00:39:38.280
That could be that I saw the Supreme Court, and

696
00:39:38.440 --> 00:39:39.880
maybe it was the Virginia Supreme Court.

697
00:39:39.920 --> 00:39:42.800
That's what I think it was. That'd be a different story.

698
00:39:43.119 --> 00:39:45.480
And you know, speaking of packs, Elon musk Pack has

699
00:39:45.480 --> 00:39:48.079
gotten some attention as of late in the news, and

700
00:39:48.440 --> 00:39:50.320
he actually funded it with like one hundred and eighteen

701
00:39:50.400 --> 00:39:53.119
million dollars probably chump change, yeah, change for me, but

702
00:39:53.880 --> 00:39:54.639
he's actually been.

703
00:39:54.559 --> 00:39:56.000
Getting a Trump change.

704
00:39:56.039 --> 00:40:00.039
No Trump Trump change, that's Trump chate. That's good. I

705
00:40:00.039 --> 00:40:02.440
don't think it's hilarious. I think the number one maker

706
00:40:02.519 --> 00:40:04.519
of electric cards is Trump's biggest supporter.

707
00:40:04.800 --> 00:40:06.880
Todd, what is what is the America Pack for the

708
00:40:06.920 --> 00:40:07.559
people that don't know.

709
00:40:07.920 --> 00:40:11.599
Yeah, so the America Pack is again Elon musk Pack,

710
00:40:11.760 --> 00:40:15.960
and he's obviously supporting Trump, and he says that he's

711
00:40:16.039 --> 00:40:19.199
going to be giving away like something like sixty million

712
00:40:19.239 --> 00:40:24.760
dollars through swing state voters to register. And I tried

713
00:40:24.800 --> 00:40:27.320
the site and it says like you'll get forty five bucks,

714
00:40:27.719 --> 00:40:30.440
well forty seven bucks because of the forty seventh president.

715
00:40:30.880 --> 00:40:32.679
So you get forty seven bucks if you sign it

716
00:40:32.760 --> 00:40:35.079
and you refer people. But I have you have to

717
00:40:35.079 --> 00:40:36.159
get my forty seven bucks.

718
00:40:36.280 --> 00:40:38.039
Oh and you did sign it and referred people.

719
00:40:38.159 --> 00:40:40.480
Well, it said like it was actually a decent thing.

720
00:40:40.559 --> 00:40:44.000
It was like if you believe in free speech, there's

721
00:40:44.039 --> 00:40:45.559
like one other thing. And I was like, oh, Yeah.

722
00:40:45.679 --> 00:40:47.800
When Todd first told me about it, I was a

723
00:40:47.840 --> 00:40:49.199
couple of days later. I was trying to tell my

724
00:40:49.280 --> 00:40:51.840
dad to go on the website and you know, sign

725
00:40:51.960 --> 00:40:54.960
up and get the forty seven dollars. He could not,

726
00:40:55.159 --> 00:40:57.320
and I could not go on Google and find this thing.

727
00:40:57.440 --> 00:41:00.280
They blocked it so hard from us. I don't know

728
00:41:01.239 --> 00:41:03.960
who's responsible for that, but they really try to censor that.

729
00:41:05.559 --> 00:41:10.000
Oh. The oil had a very interesting week, little volatility

730
00:41:10.000 --> 00:41:12.519
and oil. We saw oil run up into the high seventies,

731
00:41:12.559 --> 00:41:15.559
and then on Monday had its worst day in two

732
00:41:15.639 --> 00:41:20.639
years after Israel did retaliate it against Iran but didn't

733
00:41:20.679 --> 00:41:24.199
hit the oil infrastructure. Finished the week down two, down

734
00:41:24.239 --> 00:41:27.760
two dollars at sixty nine fifty, still probably about eight

735
00:41:27.800 --> 00:41:29.639
bucks below where it was two weeks ago.

736
00:41:29.800 --> 00:41:33.639
Huh, why isn't at one hundred? Why is it not

737
00:41:33.719 --> 00:41:34.320
at one hundred?

738
00:41:34.480 --> 00:41:34.760
Oil?

739
00:41:35.000 --> 00:41:39.039
Yeah, because of China would be my guess. The second

740
00:41:39.119 --> 00:41:42.239
largest economy in the world, really struggling, continues to struggle,

741
00:41:42.679 --> 00:41:46.559
needs more stimulus. I don't know how you stimulate yourself

742
00:41:46.559 --> 00:41:48.639
out of that housing bubble. I just don't know. It's

743
00:41:48.920 --> 00:41:51.920
such a major, major problem, and we've seen it coming

744
00:41:52.000 --> 00:41:54.719
for decades. It's not like this is some new thing,

745
00:41:55.639 --> 00:41:58.480
but apparently it's hard to handle. And I could see

746
00:41:58.519 --> 00:42:01.880
why it would be. You've got cities all over China,

747
00:42:02.320 --> 00:42:05.800
rand new cities where nobody's living, and you had to

748
00:42:05.880 --> 00:42:08.840
have at least two residents. As talking to a Chinese friend,

749
00:42:08.880 --> 00:42:10.840
if you if you don't have at least two residents,

750
00:42:10.880 --> 00:42:12.800
you're a loser, you know so.

751
00:42:13.079 --> 00:42:14.679
And what was interesting is like, if we get so

752
00:42:14.800 --> 00:42:19.280
much stuff from China and they're doing so bad, why

753
00:42:19.320 --> 00:42:20.480
do we keep getting everything?

754
00:42:21.960 --> 00:42:23.239
What do you like? You know what I mean?

755
00:42:23.320 --> 00:42:26.800
Like, if they're doing bad, does that stop supply chain?

756
00:42:26.840 --> 00:42:30.800
Shouldn't know? You should? It should because they don't have it,

757
00:42:30.920 --> 00:42:33.840
not anywhere near the number of anywhere near the number

758
00:42:33.880 --> 00:42:37.159
of exports they used to have because so many things

759
00:42:37.199 --> 00:42:39.840
they have gone elsewhere in Mexico and back to the

760
00:42:40.000 --> 00:42:43.679
US and Vietnam. A lot of Asian countries are picking

761
00:42:43.760 --> 00:42:46.280
up the picking up some of that slack and maybe

762
00:42:46.440 --> 00:42:48.800
been quite a backlash against China, and they've lost a

763
00:42:48.880 --> 00:42:51.400
lot of their exports, so they don't have as many

764
00:42:51.440 --> 00:42:54.320
things they're trying to export as they as they did

765
00:42:54.519 --> 00:42:58.440
five years ago. And the fact that the economy is

766
00:42:58.519 --> 00:43:00.760
slow would simply mean there's more peace people available to

767
00:43:00.800 --> 00:43:03.199
make stuff. You know, you ought to be making more

768
00:43:03.239 --> 00:43:03.360
of it.

769
00:43:03.679 --> 00:43:04.039
A goal.

770
00:43:04.159 --> 00:43:06.719
Finished the week down seven bucks. It was volatile, hit

771
00:43:06.760 --> 00:43:10.280
a new all time high again. Finished the twenty seven

772
00:43:10.400 --> 00:43:13.119
thirty five Bitcoin down about one percent on the week,

773
00:43:13.159 --> 00:43:15.679
now much right, Todd had a little rally during that

774
00:43:15.719 --> 00:43:17.039
we got above seventy thousand.

775
00:43:17.400 --> 00:43:19.199
Yeah, I had it up two percent, depending on how

776
00:43:19.239 --> 00:43:19.719
you look at it.

777
00:43:19.840 --> 00:43:21.920
Now we're using the The only way we can really

778
00:43:22.000 --> 00:43:24.199
do it because it's open twenty four to seven is

779
00:43:24.280 --> 00:43:25.119
to the ETF.

780
00:43:25.760 --> 00:43:26.760
Yeah, that's how you do it.

781
00:43:26.960 --> 00:43:30.559
Yeah, I just I just because again it's what it

782
00:43:30.760 --> 00:43:33.480
is on Friday's close, and what it is Sunday morning

783
00:43:33.599 --> 00:43:37.239
could be night and day different because it's it trades constantly.

784
00:43:37.760 --> 00:43:40.880
But that ETF was down one percent, which does mimic

785
00:43:40.960 --> 00:43:44.559
a bitcoin. So for the trading, we lost about one percent.

786
00:43:45.119 --> 00:43:47.599
Yields continue to be the way they should be. Short

787
00:43:47.719 --> 00:43:51.880
term rates short term treasury four point two, ten year

788
00:43:51.920 --> 00:43:56.280
treasury around four point four, which is which is quite

789
00:43:56.280 --> 00:43:59.199
a little jump. The rate on the ten year treasury

790
00:43:59.679 --> 00:44:03.119
is up about twenty percent higher the rate than it

791
00:44:03.320 --> 00:44:06.000
was five weeks ago, and that's after the Fed cut

792
00:44:06.079 --> 00:44:08.880
interest rates by half a percent. It just doesn't really

793
00:44:08.960 --> 00:44:11.519
make sense. And Todd, you said earlier that the bond

794
00:44:11.599 --> 00:44:15.079
market is disagreeing with the Federal Reserve, and I agree

795
00:44:15.119 --> 00:44:19.639
with that one hundred percent. They're just totally totally at

796
00:44:19.639 --> 00:44:22.239
odds with each other right now. I guess the Federal

797
00:44:22.280 --> 00:44:24.599
Reserve holds all the cards if they want to, if

798
00:44:24.639 --> 00:44:27.800
you want to say that, but the bond market is

799
00:44:27.840 --> 00:44:32.960
saying you can't cut them much more without creating problems. Now,

800
00:44:33.000 --> 00:44:35.519
the one thing that may help us in terms of

801
00:44:35.639 --> 00:44:38.440
the CPI, we know that one of the major components

802
00:44:38.519 --> 00:44:42.239
of the CPI is shelter. I think it's about almost

803
00:44:42.280 --> 00:44:45.519
forty percent of the entire CPI is shelter. Shelter being

804
00:44:45.599 --> 00:44:50.480
apartment rents and shelter being housing, and we are seeing

805
00:44:51.199 --> 00:44:55.559
pretty steady weakness in both of those areas, which really

806
00:44:55.599 --> 00:45:01.480
should help CPI. The existing home sales lowest in fourteen months,

807
00:45:02.000 --> 00:45:05.239
excuse me, fourteen years. Existing home sales the lowest in

808
00:45:05.320 --> 00:45:09.119
fourteen years, and that was a reported last month. And

809
00:45:09.480 --> 00:45:11.639
we are starting to see some pressure on rents that

810
00:45:11.800 --> 00:45:12.880
appear to be coming down.

811
00:45:14.280 --> 00:45:16.079
Rents are definitely coming down, Yeah.

812
00:45:16.159 --> 00:45:19.079
Starting to see some pressure on the homebuilders home Builder ETF,

813
00:45:19.239 --> 00:45:21.880
on the home builder companies as well. There are Horton.

814
00:45:21.920 --> 00:45:23.880
They tumbled like seven percent I'm pretty sure off their

815
00:45:23.920 --> 00:45:24.519
earning supporter.

816
00:45:24.719 --> 00:45:28.719
Yeah, the dear Horton report was disappointing too many and

817
00:45:28.880 --> 00:45:33.039
it took with it shares of things that are related

818
00:45:33.119 --> 00:45:39.239
to Stanley Black and Decker home depot ITB The home

819
00:45:39.280 --> 00:45:42.920
builder ETF had its worst day in two years last week.

820
00:45:43.599 --> 00:45:45.960
So yeah, things are slowing down in that area.

821
00:45:46.159 --> 00:45:50.840
I still argue that again, the CPI inflation, the input

822
00:45:50.960 --> 00:45:53.159
of house prices. It takes six to twelve months for

823
00:45:53.239 --> 00:45:55.519
current house prices to reflect in CPI.

824
00:45:55.719 --> 00:45:57.559
Well we'll see. I disagree with that, and well, I

825
00:45:57.559 --> 00:46:01.400
guess we'll see. If I'm right. The CPI number for

826
00:46:01.559 --> 00:46:03.719
November could be under two if.

827
00:46:03.639 --> 00:46:06.760
It's due to shelter. I mean, you know why something

828
00:46:06.800 --> 00:46:07.599
goes down, because.

829
00:46:07.920 --> 00:46:10.320
How much else is breakdown, that's for sure. So if

830
00:46:10.360 --> 00:46:13.159
it drops below two, oil went down a little bit,

831
00:46:13.519 --> 00:46:15.199
all was down a little bit. So well, so what

832
00:46:15.320 --> 00:46:18.519
do I have to what kind of when.

833
00:46:18.400 --> 00:46:20.559
We look at the components of the CPI breakdown and

834
00:46:20.559 --> 00:46:22.360
see what actually lost in the month, that's.

835
00:46:22.280 --> 00:46:25.559
The easiest way to look at how quickly shelter is reflected.

836
00:46:25.760 --> 00:46:28.039
Yeah, the reports I look at says it does take

837
00:46:28.079 --> 00:46:28.880
six to twelve months.

838
00:46:28.880 --> 00:46:30.639
I think it's quicker than that, but it's it depends.

839
00:46:30.679 --> 00:46:33.280
I think it depends upon the magnitude of the decline

840
00:46:33.320 --> 00:46:37.079
as well. That's certainly you can do it. McDonald's a

841
00:46:37.159 --> 00:46:40.559
big headline last week after they dropped eight percent on

842
00:46:41.360 --> 00:46:45.840
nine hundred restaurants were impacted by that E Coli outbreak, and.

843
00:46:45.880 --> 00:46:49.360
A couple other companies like what was it, KFC and

844
00:46:49.719 --> 00:46:52.400
talk about how to yeah, look out for stuff too

845
00:46:52.639 --> 00:46:53.079
because of it.

846
00:46:53.519 --> 00:46:56.119
They did rally on Monday after they said they're going

847
00:46:56.199 --> 00:46:58.840
to reopen the stores that had the problem and they're

848
00:46:58.840 --> 00:47:02.920
going to continue to sell the quarter pounder but without onions, right,

849
00:47:03.000 --> 00:47:06.440
without onions. But they did say that foot traffic drop

850
00:47:06.559 --> 00:47:09.920
ten percent after the outbreak, and the stock was down

851
00:47:10.000 --> 00:47:13.159
about ten percent, which sounds to me about right. You know,

852
00:47:13.400 --> 00:47:16.639
I don't I'm not trying to predict a bottom from McDonald's,

853
00:47:16.639 --> 00:47:19.159
but it sounds a ten percent drop does sound about right.

854
00:47:19.280 --> 00:47:22.599
Kind of interesting tide you talked about related stocks. Coca

855
00:47:22.679 --> 00:47:27.039
Cola down five percent in the last week in sympathy

856
00:47:27.119 --> 00:47:29.320
with McDonald's. Obviously they sell a lot of Coca Cola

857
00:47:29.360 --> 00:47:33.800
at McDonald's and Coca Cola investors and wait a second,

858
00:47:33.880 --> 00:47:37.440
people aren't coming into McDonald's. That's going to impact Coca Cola.

859
00:47:37.719 --> 00:47:40.079
That's going to impact Coca Cola. So we'll be back

860
00:47:40.159 --> 00:47:41.920
right after this break. We thank you for listening to

861
00:47:42.039 --> 00:47:44.239
us on this. If the weather forecast is right, cold,

862
00:47:44.280 --> 00:47:46.119
windy Sunday.

863
00:47:45.840 --> 00:47:56.719
Morning, welcome back to everybody. Second out with the money

864
00:47:56.719 --> 00:48:00.320
about a shelve. Hope you enjoin it. I hope you

865
00:48:00.360 --> 00:48:03.159
getting ready for Tuesday. I feel like it's a super

866
00:48:03.199 --> 00:48:03.800
Bowl something.

867
00:48:04.440 --> 00:48:08.000
Well, the market's getting ready to vix increase the volatility

868
00:48:08.039 --> 00:48:08.519
in decks.

869
00:48:08.920 --> 00:48:11.000
We's got a lot of volatility. That's the one thing

870
00:48:11.079 --> 00:48:13.480
I can I can't expect.

871
00:48:13.880 --> 00:48:16.079
Yeah, I think though it almost no matter what happens,

872
00:48:16.119 --> 00:48:19.519
it's going to be volatile, right. I remember in twenty sixteen,

873
00:48:19.960 --> 00:48:22.920
the belief was that if Trump won, boy, we're going

874
00:48:22.960 --> 00:48:25.480
to go to hell. And I remember sitting at a

875
00:48:25.599 --> 00:48:29.000
church council meeting looking at my phone and the futures

876
00:48:29.039 --> 00:48:30.360
were down nine hundred points.

877
00:48:30.599 --> 00:48:33.039
I know, Well, you know it's weird is that they

878
00:48:33.119 --> 00:48:35.320
always say well, when Trump gets in, this is gonna happen.

879
00:48:35.360 --> 00:48:37.280
This is gonna happen. But we know what happens.

880
00:48:38.000 --> 00:48:39.400
He's been there, and we know what happened with the.

881
00:48:39.480 --> 00:48:42.199
Commas somehow that blaming the economy on him because of

882
00:48:42.239 --> 00:48:47.440
the pandemic, and that they fixed the pandemic. They took over,

883
00:48:47.480 --> 00:48:50.320
but they saved us. Came in and saved us from

884
00:48:50.320 --> 00:48:53.760
Trump because if I remember correctly, he was still the

885
00:48:53.880 --> 00:48:57.679
president in March of twenty twenty when we bought him

886
00:48:57.719 --> 00:48:58.800
and turned everything around.

887
00:48:59.320 --> 00:49:02.480
Yeah, have been in November twenty twenty, right.

888
00:49:02.960 --> 00:49:05.679
Yeah, so it was all the way to January twenty.

889
00:49:06.119 --> 00:49:09.199
The pandemic just started in March and April, so he

890
00:49:09.400 --> 00:49:11.199
was he was stuck with it, and he did get

891
00:49:11.199 --> 00:49:14.519
the vaccine quicker than anybody could even imagine. And then

892
00:49:14.599 --> 00:49:17.480
when Biden got elected, none of the Trump supporters wanted

893
00:49:17.480 --> 00:49:21.360
the vaccine, even though it's Trump's vaccine. Weird. I always

894
00:49:21.360 --> 00:49:24.679
found that kind of interesting. But then you know, Pfizer

895
00:49:24.840 --> 00:49:26.679
came out with a good reports. The stock has kind

896
00:49:26.719 --> 00:49:32.039
of quietly rallied fifteen percent. People are still buying that

897
00:49:32.280 --> 00:49:36.119
Packedlova good good uh packed Alova nice commercials, aren't they

898
00:49:36.360 --> 00:49:40.039
if it's if it's COVID, it's packed loob. Great commercials.

899
00:49:40.199 --> 00:49:42.480
I love them. Yeah they're they're not I love them. Yeah,

900
00:49:42.960 --> 00:49:46.159
they're very clever, very clever commercial. Good good good ad campaign.

901
00:49:46.519 --> 00:49:49.719
And and people are still getting the COVID shot. I

902
00:49:49.800 --> 00:49:52.079
had a call from a client last week and she said,

903
00:49:52.079 --> 00:49:54.000
I said, how you been doing. She said, well, I

904
00:49:54.119 --> 00:49:57.119
just had the paramedics here. She's seventy seven years old.

905
00:49:57.480 --> 00:49:59.719
She said, I just had the paramedics here to get

906
00:49:59.760 --> 00:50:03.280
me off of the floor. And I said what, And

907
00:50:03.400 --> 00:50:06.960
she said, I got a COVID shot yesterday. This morning,

908
00:50:07.400 --> 00:50:09.519
I couldn't get out of bed, and when I tried,

909
00:50:09.599 --> 00:50:11.840
I fell on the floor and I couldn't move because

910
00:50:11.880 --> 00:50:14.920
of the COVID vaccine. So she had to call nine

911
00:50:14.960 --> 00:50:18.400
one one and get the paramedics there. And so you know,

912
00:50:18.440 --> 00:50:21.199
and and it's I've heard four or five stories like that,

913
00:50:21.360 --> 00:50:23.840
but I suppose you are going to hear. You're not

914
00:50:23.920 --> 00:50:25.760
going to hear about the people that had the vaccine

915
00:50:25.760 --> 00:50:27.320
and it had no impact.

916
00:50:27.440 --> 00:50:31.519
Right, Yeah, it's just wild that, you know, America and

917
00:50:31.719 --> 00:50:33.719
New Zealand are like the only two countries that can

918
00:50:33.800 --> 00:50:36.280
advertise on TV for Pharmaceuticals was.

919
00:50:36.239 --> 00:50:38.360
There, right, Yeah, I remember, I think I told you

920
00:50:38.960 --> 00:50:42.519
last week on the show. I was in the Walgreens

921
00:50:42.960 --> 00:50:45.519
uh to pick up a prescription and the place was packed,

922
00:50:46.119 --> 00:50:47.920
and I was asking the guy why this was packed?

923
00:50:48.000 --> 00:50:51.280
She goes, oh, there for the COVID shots. Really, people are.

924
00:50:51.400 --> 00:50:54.280
They're definitely wrapping it up too with the flu shot

925
00:50:54.360 --> 00:50:56.199
season where hey you got to get your flu Yeah

926
00:50:56.239 --> 00:50:57.679
you're the John Legend commercial.

927
00:50:58.039 --> 00:50:59.760
Yeah, yeah, both and Kelsey.

928
00:51:01.119 --> 00:51:03.400
I actually got a call from somebody at a Safeway,

929
00:51:03.519 --> 00:51:06.920
some representative that wanted us. You wanted us to set

930
00:51:07.000 --> 00:51:08.599
up a meeting with them, or for him to come

931
00:51:08.639 --> 00:51:11.119
into the office and give us a house call for shots,

932
00:51:11.199 --> 00:51:15.199
COVID shots, flu shots. I wanted to know if we're interested.

933
00:51:15.920 --> 00:51:16.280
Oh wow.

934
00:51:16.960 --> 00:51:19.480
Interesting. It is interesting though, that that that there is

935
00:51:19.519 --> 00:51:23.360
still demand for COVID vaccines even though it doesn't keep

936
00:51:23.400 --> 00:51:24.480
you from getting COVID.

937
00:51:24.559 --> 00:51:27.440
I know, it's interesting that you could solicit a vaccine

938
00:51:27.599 --> 00:51:28.039
and we.

939
00:51:28.119 --> 00:51:31.599
Know that it's it's a people have had adverse impact,

940
00:51:31.719 --> 00:51:34.679
and we know that at this point almost everybody has

941
00:51:34.719 --> 00:51:37.000
had COVID one two three times.

942
00:51:37.400 --> 00:51:39.800
Basically like a flu. Now like you can definitely it

943
00:51:39.880 --> 00:51:40.480
can be bad.

944
00:51:41.320 --> 00:51:43.280
And if you say I haven't had it, you probably

945
00:51:43.360 --> 00:51:46.000
have had it. You just didn't have any any any

946
00:51:46.079 --> 00:51:49.760
reaction to it. So we're we've kind of built an immunity,

947
00:51:49.840 --> 00:51:51.760
which is the whole that's the one thing we're trying

948
00:51:51.800 --> 00:51:54.719
to messed up. You've actually got to get out there

949
00:51:54.719 --> 00:51:57.360
and get exposed to these things to build an immunity.

950
00:51:57.480 --> 00:51:58.679
Your body will build an immunity.

951
00:51:58.760 --> 00:52:01.760
That's why the masks were also just a bad idea

952
00:52:01.760 --> 00:52:03.679
because it didn't stop anything, and all you're doing is

953
00:52:03.760 --> 00:52:06.639
just breathing into your bacteria and that's not good because

954
00:52:06.679 --> 00:52:10.920
it's just crazy things. Okay, okay, Dean, what are we

955
00:52:10.920 --> 00:52:11.320
talking about.

956
00:52:11.400 --> 00:52:13.719
Let's go back to the market which was dound this week.

957
00:52:14.480 --> 00:52:20.079
All right, If we had to pick into an industry

958
00:52:20.440 --> 00:52:22.760
going forward in the next six months, what.

959
00:52:22.760 --> 00:52:26.679
Would you pick this last week? Yeah?

960
00:52:27.519 --> 00:52:27.679
Why?

961
00:52:28.320 --> 00:52:30.039
It's because it's so low and it's going to come

962
00:52:30.079 --> 00:52:31.280
back when China comes back.

963
00:52:31.320 --> 00:52:34.199
And why bottom, Why would it come back then? Because

964
00:52:34.559 --> 00:52:36.320
if Trump gets it, why will oil come back?

965
00:52:36.400 --> 00:52:37.440
China demand for oil?

966
00:52:37.679 --> 00:52:40.000
But if we increase the supply, why will that happen?

967
00:52:40.400 --> 00:52:41.960
Why will try to come and get to the oil

968
00:52:42.039 --> 00:52:42.360
for us?

969
00:52:42.519 --> 00:52:44.559
Well, first of the supply doesn't happen right away. It

970
00:52:44.599 --> 00:52:46.280
takes a w off of those projects to get going.

971
00:52:46.840 --> 00:52:47.880
So six months, isn't it?

972
00:52:48.719 --> 00:52:51.400
On priceing of oils global, it's not just al us right,

973
00:52:52.119 --> 00:52:55.719
oil should go up? Should What is it telling us

974
00:52:55.760 --> 00:52:58.320
we're going to have a slowdown. I think it's telling

975
00:52:58.360 --> 00:53:01.519
you we're already have a slowdown, obviously.

976
00:53:01.599 --> 00:53:04.840
If not, If not, if you're listening to the economists

977
00:53:04.920 --> 00:53:08.119
and the and the Fed and the and and the administration.

978
00:53:08.360 --> 00:53:10.320
No, no, no, I'm not talking about the global flodon

979
00:53:10.480 --> 00:53:13.840
in the China kin to mean the second largist economy

980
00:53:13.840 --> 00:53:15.239
in the world being in the toilet.

981
00:53:15.320 --> 00:53:20.400
Okay, Well, but they're stimulating faster than anyone's ever stimulated.

982
00:53:21.239 --> 00:53:23.320
And there's a whole nother one coming down the road

983
00:53:23.400 --> 00:53:25.760
right after the election. Has to be but oil because

984
00:53:25.800 --> 00:53:28.360
it isn't working yet. But oil doesn't seem like it's

985
00:53:28.440 --> 00:53:29.880
even worried about it.

986
00:53:30.000 --> 00:53:30.800
It's not working yet.

987
00:53:31.239 --> 00:53:33.400
Is it all supply so great around the world?

988
00:53:33.960 --> 00:53:36.280
Well, I mean, we have definitely increased our production of

989
00:53:36.360 --> 00:53:39.400
oil in the United States, and that has definitely increased

990
00:53:39.400 --> 00:53:41.320
the supply. I mean, we're at the same oil prices

991
00:53:41.360 --> 00:53:43.400
we had in twenty one before it ran up to

992
00:53:43.440 --> 00:53:44.280
the one hundred and tens.

993
00:53:44.360 --> 00:53:47.519
So it is you could argue they're normal.

994
00:53:47.800 --> 00:53:49.760
Yeah, but but you know, twenty twenty one, we were

995
00:53:49.840 --> 00:53:53.880
still coming out of the pandemic, you know, and remember

996
00:53:53.920 --> 00:53:56.000
when we're doing all that minus it.

997
00:53:56.039 --> 00:53:58.320
Went to minus one day. You remember that minus like

998
00:53:58.400 --> 00:54:00.239
twenty five or fifty dollars.

999
00:54:00.079 --> 00:54:03.119
Yep, yep, minus. Yeah, Yeah, you had to pay. One

1000
00:54:03.119 --> 00:54:05.280
of the things you look back on is why did

1001
00:54:05.559 --> 00:54:07.840
we couldn't buy it? But well no, but you at

1002
00:54:07.920 --> 00:54:09.599
ten dollars, you could put a lot of money in

1003
00:54:09.760 --> 00:54:10.920
xcelly yeah.

1004
00:54:10.840 --> 00:54:14.519
Or money in actually us Well, it's just something other

1005
00:54:14.559 --> 00:54:15.400
than oil tankers.

1006
00:54:15.719 --> 00:54:18.880
Yeah, there's speaking of that. How about how about Carbana,

1007
00:54:19.079 --> 00:54:21.519
a local company, Arizona company.

1008
00:54:21.679 --> 00:54:22.280
What a ride that?

1009
00:54:22.679 --> 00:54:22.920
Wow?

1010
00:54:23.400 --> 00:54:27.360
What a ride? Got to what three hundred and fifty

1011
00:54:27.440 --> 00:54:28.920
bucks to share? I want to say, a couple of

1012
00:54:28.960 --> 00:54:31.239
years ago they went all the way down to three

1013
00:54:33.039 --> 00:54:37.119
and popped fifty bucks or twenty percent on what was

1014
00:54:37.159 --> 00:54:40.360
it Wednesday or Thursday up to a new multi year

1015
00:54:40.440 --> 00:54:43.000
high two fifty from three?

1016
00:54:43.679 --> 00:54:45.599
And what did they do that a year different?

1017
00:54:46.320 --> 00:54:46.840
Yeah? I don't know.

1018
00:54:47.079 --> 00:54:49.639
It's just pre allow you to have the call and

1019
00:54:49.840 --> 00:54:52.159
try it and can return it with no hassle.

1020
00:54:53.079 --> 00:54:54.519
I think one of the biggest things that they have

1021
00:54:54.599 --> 00:54:56.599
going for them too is the auction that they bought out.

1022
00:54:56.840 --> 00:54:58.679
I think that's why I've used car gas. That's a

1023
00:54:58.679 --> 00:54:59.360
good point here, Right.

1024
00:54:59.400 --> 00:55:01.960
But they deliver you the car, you get to drive

1025
00:55:02.039 --> 00:55:04.559
it for a certain amount of time. If you don't

1026
00:55:04.760 --> 00:55:06.960
like it, they come and pick it up and no

1027
00:55:07.159 --> 00:55:09.440
questions asked other than what didn't you like about it?

1028
00:55:10.000 --> 00:55:12.519
And take it back and give you another one.

1029
00:55:13.559 --> 00:55:15.519
Yeah, it's a lot better experience than going to a

1030
00:55:15.599 --> 00:55:19.400
car dealership, right and getting haggled by a salesman. Right,

1031
00:55:19.400 --> 00:55:20.559
But I can't understand.

1032
00:55:20.239 --> 00:55:26.760
They had that same exact operational mode when it went

1033
00:55:26.800 --> 00:55:29.639
from three fifty to three dollars three hundred and fifty

1034
00:55:29.639 --> 00:55:31.639
dollars to three dollars, right, but.

1035
00:55:32.039 --> 00:55:34.760
But but remember it happened with the pandemic and then

1036
00:55:34.760 --> 00:55:37.159
they couldn't get the supply of cars anymore, and the

1037
00:55:37.239 --> 00:55:38.000
prices went up.

1038
00:55:39.840 --> 00:55:41.800
It got to three fifty in late twenty two, right

1039
00:55:41.960 --> 00:55:42.719
but right.

1040
00:55:43.119 --> 00:55:45.840
And then the fall off in late twenty two started

1041
00:55:45.880 --> 00:55:48.119
with all the companies that ran up so much, from

1042
00:55:48.239 --> 00:55:52.320
Zoom to the to the all the tech companies. Everything

1043
00:55:52.960 --> 00:55:55.800
they didn't weren't able to recover right away. And and

1044
00:55:56.159 --> 00:55:59.360
the problem was is that cars used cars were more

1045
00:55:59.400 --> 00:56:02.880
expensive than anything there were. Yeah, okay, there's supply, supply

1046
00:56:03.000 --> 00:56:05.840
and demand. So all of a sudden, uh, you know

1047
00:56:06.119 --> 00:56:09.159
that it changed everything. Well, they have the supply to

1048
00:56:09.199 --> 00:56:10.239
be able to get it out there.

1049
00:56:10.320 --> 00:56:13.039
They bought the right, they bought a DESA or a

1050
00:56:13.199 --> 00:56:14.039
d s A.

1051
00:56:14.800 --> 00:56:17.880
What the gave the ability to have a stream of

1052
00:56:18.039 --> 00:56:20.039
cars to sell the big money, right.

1053
00:56:20.559 --> 00:56:21.039
That's what I think.

1054
00:56:21.079 --> 00:56:23.119
That's a big part of make five hundred bucks off

1055
00:56:23.280 --> 00:56:26.800
any car that they sell. You know, it's a huge market,

1056
00:56:27.159 --> 00:56:27.760
huge market.

1057
00:56:28.679 --> 00:56:31.280
Yeah, you're able to change your costructure for your company

1058
00:56:31.400 --> 00:56:32.719
by implementing that.

1059
00:56:33.800 --> 00:56:34.920
I don't know if I want I don't know if

1060
00:56:34.960 --> 00:56:37.199
I would buy a car and have it delivered to me,

1061
00:56:37.280 --> 00:56:39.400
I want to drive it. I want to You get

1062
00:56:39.440 --> 00:56:41.280
to drive it, That's what I'm trying to know. You

1063
00:56:41.400 --> 00:56:43.360
get to drive it after they deliver it to your house.

1064
00:56:43.559 --> 00:56:46.400
They spent two point two billion dollars on the acquisition

1065
00:56:46.519 --> 00:56:48.639
of that physical auction business, and that was in twenty

1066
00:56:48.719 --> 00:56:51.599
twenty two, and if I'm not mistaken, that was when

1067
00:56:51.719 --> 00:56:53.079
it was pretty hard to buy used cars.

1068
00:56:53.440 --> 00:56:57.480
Yeah, that was a smart spat idea. I see is

1069
00:56:57.480 --> 00:56:59.599
a very smart guy. This is not the dad, it's

1070
00:56:59.599 --> 00:57:03.320
a sid he's I guess the DA's pretty spat too.

1071
00:57:03.480 --> 00:57:06.639
He's been around a long time. We know where he uh.

1072
00:57:07.000 --> 00:57:11.800
And they've done a great job and uh, you know obviously, uh,

1073
00:57:12.239 --> 00:57:15.519
you know, they fixed whatever problems they had and brought

1074
00:57:15.559 --> 00:57:15.880
it back.

1075
00:57:16.119 --> 00:57:18.920
My house in Tempe was just down the street from

1076
00:57:18.960 --> 00:57:21.480
the headquarters they were building, and I remember running by

1077
00:57:21.519 --> 00:57:23.159
it when they were building it. And this is when

1078
00:57:23.199 --> 00:57:25.719
they were going down in twenty two and eventually went

1079
00:57:25.760 --> 00:57:27.960
to three dollars or share. When I was getting ready

1080
00:57:27.960 --> 00:57:29.960
to sum the house, they were completely done with their

1081
00:57:30.000 --> 00:57:33.559
headquarters and I'm just thinking, how are you building a

1082
00:57:33.599 --> 00:57:36.639
headquarters from your stock goes from three to fifty to

1083
00:57:36.719 --> 00:57:39.480
three dollars. I mean, that's a pretty crazy material.

1084
00:57:39.599 --> 00:57:43.360
Channing borrowed money a lot, and now they're right back

1085
00:57:43.440 --> 00:57:45.199
up there. They had to finish it because the people

1086
00:57:45.239 --> 00:57:47.199
that lent it to them goes, well, if you're going

1087
00:57:47.239 --> 00:57:49.280
to go out of business, at least I need a complete.

1088
00:57:49.239 --> 00:57:51.880
Yeah, yeah, yeah, think about him. Tell what are they doing?

1089
00:57:52.760 --> 00:57:52.880
Well?

1090
00:57:52.920 --> 00:57:54.599
Intel was of eight percent on Friday.

1091
00:57:55.119 --> 00:57:58.400
Ooh, back to twenty three sold down fifty percent.

1092
00:57:58.599 --> 00:58:01.119
Yeah, it has some support to get resistance to get

1093
00:58:01.159 --> 00:58:01.639
over to the.

1094
00:58:01.679 --> 00:58:03.519
Worst former in the del you're the day. I think

1095
00:58:03.519 --> 00:58:04.960
it's down what fifty four percent?

1096
00:58:05.079 --> 00:58:07.320
Yeah, but both of the bottom dwellers had good weeks.

1097
00:58:07.360 --> 00:58:10.760
Boying Uh. It sounds on Friday like they're getting closer.

1098
00:58:10.760 --> 00:58:14.360
There's a vote on Monday to accept a new tentative agreement.

1099
00:58:14.440 --> 00:58:15.639
The last one was voted down.

1100
00:58:15.679 --> 00:58:17.840
You may recall one hundred and twenty k per worker.

1101
00:58:18.039 --> 00:58:19.320
Yeah that enough there you go?

1102
00:58:20.239 --> 00:58:23.400
Yeah, twenty k per worker for what is it like

1103
00:58:23.480 --> 00:58:24.119
the strike deal?

1104
00:58:26.199 --> 00:58:26.239
No?

1105
00:58:26.480 --> 00:58:27.079
Like per year?

1106
00:58:28.440 --> 00:58:31.079
Everyone's going to get a hundred twenty thousand company.

1107
00:58:31.159 --> 00:58:33.400
It's just like I think that's the average, yeah, average

1108
00:58:33.440 --> 00:58:33.840
something like that.

1109
00:58:34.039 --> 00:58:37.480
The averagehower it was thirty twenty five Yeah, at thirty

1110
00:58:37.519 --> 00:58:41.480
eight bucks an hour, not total total for the year. Okay, yeah,

1111
00:58:42.760 --> 00:58:46.840
what do they make now? I last one hundred less

1112
00:58:46.880 --> 00:58:47.039
than that.

1113
00:58:47.840 --> 00:58:50.400
That's that's the idea. Is it worth what they've gone

1114
00:58:50.440 --> 00:58:53.039
through to make it ten to twenty percent increase when

1115
00:58:53.079 --> 00:58:55.280
they would have gotten something anyway? You not lose any money.

1116
00:58:55.360 --> 00:58:56.920
I don't know that you can ever make a case

1117
00:58:56.960 --> 00:59:00.400
for a strike under worthwhile, right, yeah, I talk about

1118
00:59:00.400 --> 00:59:02.719
your dad, and you've talked about your dad going through

1119
00:59:02.800 --> 00:59:05.360
those things, and my father in law went through those

1120
00:59:05.400 --> 00:59:08.320
things with the bread delivery man, and I don't I

1121
00:59:08.400 --> 00:59:09.280
don't think you ever win.

1122
00:59:09.559 --> 00:59:11.760
It's kind of like, how can you show the difference

1123
00:59:11.800 --> 00:59:15.000
of if you're managing money yourself versus having an advisor

1124
00:59:15.239 --> 00:59:19.719
manage your money, and like the emotional differences between that,

1125
00:59:20.159 --> 00:59:22.320
you know what I mean, and the mistakes you can make,

1126
00:59:22.480 --> 00:59:25.639
especially if markets fall off and you don't have an advisor,

1127
00:59:26.000 --> 00:59:26.199
you know.

1128
00:59:26.440 --> 00:59:30.119
Talking to you talking about that? What are people? You know,

1129
00:59:30.199 --> 00:59:32.119
you've been seeing a lot of people, What are What

1130
00:59:32.239 --> 00:59:34.800
are they concerned about now when you're sitting down with them?

1131
00:59:34.840 --> 00:59:38.880
And right now everything's everybody's concerned about the election. That's

1132
00:59:39.679 --> 00:59:39.960
that's it.

1133
00:59:41.400 --> 00:59:44.000
No, I mean, obviously they're they're worried about the fact

1134
00:59:44.000 --> 00:59:47.719
that these numbers they can't trust, and they don't feel

1135
00:59:47.800 --> 00:59:51.000
the economy the same way that that it's being reported.

1136
00:59:52.360 --> 00:59:54.599
But overall, they want to know what they can be

1137
00:59:54.800 --> 00:59:57.639
doing to be most efficient right now. And so there's

1138
00:59:57.639 --> 01:00:00.280
a lot of tools that we've been helping people to

1139
01:00:00.519 --> 01:00:02.880
show different ways, you know, and we've had a lot

1140
01:00:02.960 --> 01:00:06.360
of different conversations with people who have annuities come and

1141
01:00:06.440 --> 01:00:09.280
do and need to find new homes for those annuities,

1142
01:00:10.039 --> 01:00:12.800
different fixed in come portions of the portfolio that we've

1143
01:00:12.880 --> 01:00:15.679
done bond ladders for, you know what I mean. Sometimes

1144
01:00:15.760 --> 01:00:17.599
it's just sitting in the Vanguard money market waiting for

1145
01:00:17.639 --> 01:00:20.039
the opportunity. That's right. So there's there's just a lot

1146
01:00:20.119 --> 01:00:22.280
of different you know, wait and see right now, but

1147
01:00:22.400 --> 01:00:26.480
there's opportunities to be especially with rates increasing right now,

1148
01:00:26.760 --> 01:00:30.039
there's a lot more opportunities to get back into some

1149
01:00:30.159 --> 01:00:33.119
of these products that were not that so attractive.

1150
01:00:33.159 --> 01:00:35.079
You know, just a month ago you had one that

1151
01:00:35.440 --> 01:00:37.639
I thought it was very interesting. The other day you

1152
01:00:37.719 --> 01:00:40.679
said you had a seventy three year old in and

1153
01:00:40.880 --> 01:00:42.639
wanted monthly income for life.

1154
01:00:43.719 --> 01:00:43.920
Yeah.

1155
01:00:44.000 --> 01:00:48.840
So, well, this individual had an annuity that was coming

1156
01:00:48.920 --> 01:00:51.519
due and they were just living on Social Security and

1157
01:00:51.519 --> 01:00:53.679
they're wanting what was the best thing to do with it,

1158
01:00:53.760 --> 01:00:56.239
and they needed to do some house improvements and they

1159
01:00:56.280 --> 01:00:58.119
didn't have the funds to do it because it was

1160
01:00:58.159 --> 01:01:00.079
all stuck in the annuity. So what I say it

1161
01:01:00.239 --> 01:01:03.280
was take thirty thousand out now before because you can

1162
01:01:03.320 --> 01:01:05.400
do ten percent penalty free. So was like, take three

1163
01:01:05.440 --> 01:01:08.079
ten percent out, use that for your house improvements. You'll

1164
01:01:08.079 --> 01:01:10.320
have some extra just for a rainy day, and then

1165
01:01:10.360 --> 01:01:11.679
you'll take the rest of it put it in an

1166
01:01:11.760 --> 01:01:14.480
income annuity. And because she was around seventy three, we

1167
01:01:14.559 --> 01:01:17.000
were able to get roughly eight percent income off that

1168
01:01:17.360 --> 01:01:19.440
guaranteed for the rest of her life. Now, of course,

1169
01:01:19.480 --> 01:01:21.320
the value of the annuity is going to deplete and

1170
01:01:21.360 --> 01:01:23.199
then thirteen years there's not going to be anything, but

1171
01:01:23.519 --> 01:01:25.000
you're getting eight percent for the rest of your life.

1172
01:01:25.039 --> 01:01:26.960
So she was able to get an extra fifteen hundred

1173
01:01:26.960 --> 01:01:30.320
dollars a month on top of her Social Security and

1174
01:01:30.440 --> 01:01:32.679
that you know, it takes care of any inflation worries

1175
01:01:32.800 --> 01:01:35.679
she had because in costs we're starting to tick up

1176
01:01:35.679 --> 01:01:36.000
and she was.

1177
01:01:36.000 --> 01:01:38.679
Out of work. You said it was two hundred and

1178
01:01:38.679 --> 01:01:42.320
seventy thousand left. Eight percent would be more than that,

1179
01:01:42.320 --> 01:01:42.760
wouldn't it.

1180
01:01:42.880 --> 01:01:44.679
Well, I said we were taking out like thirty k

1181
01:01:45.000 --> 01:01:46.880
because she wanted to take some out, and I think

1182
01:01:46.880 --> 01:01:50.960
it was closer to to forty if I remember correctly

1183
01:01:51.039 --> 01:01:54.559
now and take thirty and so the proposal I did

1184
01:01:54.719 --> 01:01:58.960
was for take twenty thousands. Yeah, eighteen thousand. It's re decent.

1185
01:01:59.039 --> 01:01:59.199
You know.

1186
01:01:59.320 --> 01:02:01.599
I mean, you can't guarantee anyone eight percent.

1187
01:02:02.000 --> 01:02:03.800
But at the bottom line is if you got you know,

1188
01:02:03.880 --> 01:02:07.159
five hundred thousand dollars in savings and you need a

1189
01:02:07.199 --> 01:02:10.400
little more incoming, there's forty thousand dollars a year guaranteed

1190
01:02:10.440 --> 01:02:11.159
for the rest of your life.

1191
01:02:11.239 --> 01:02:13.400
Yeah, period, and you are giving that money up. I mean,

1192
01:02:13.440 --> 01:02:15.119
that's the way you kind of think about in thirteen years.

1193
01:02:15.199 --> 01:02:17.360
That money is not going to your errors. It's likely

1194
01:02:17.480 --> 01:02:21.199
going to diminish, right, but it is a way to

1195
01:02:21.760 --> 01:02:23.840
you know, bet on your like livelihood. You know, some

1196
01:02:23.920 --> 01:02:26.280
people that are like, I'm passing away before I turn eighty,

1197
01:02:26.320 --> 01:02:28.519
they know it, right. But other people they have longevity

1198
01:02:28.559 --> 01:02:31.159
in their family, and that's a potential way to out

1199
01:02:31.320 --> 01:02:32.760
not have to worry about longevity.

1200
01:02:33.719 --> 01:02:35.719
What I think has been best is these people that

1201
01:02:35.800 --> 01:02:38.679
have never even thought about having a plan. When you're

1202
01:02:38.679 --> 01:02:40.280
give them a plan, it sort of brings down the

1203
01:02:40.320 --> 01:02:44.039
stress level. They see a picture, they have an idea

1204
01:02:44.039 --> 01:02:45.800
of what to do, and then all they have to

1205
01:02:45.840 --> 01:02:47.639
do is adjust to plan as they go forward.

1206
01:02:48.920 --> 01:02:51.719
It also opens up opportunities they didn't know they had

1207
01:02:52.360 --> 01:02:56.639
right because of lack of knowledge or just not knowing

1208
01:02:56.760 --> 01:02:58.719
that other avenues you can go down because you think

1209
01:02:58.960 --> 01:03:00.679
everyone's told me I got to be in the stock market.

1210
01:03:00.800 --> 01:03:02.519
Everyone's told me the newity is what I got to

1211
01:03:02.559 --> 01:03:04.039
be in, or I got to keep it in the

1212
01:03:04.119 --> 01:03:06.920
four O one K. They don't understand the different avenues

1213
01:03:07.000 --> 01:03:07.800
getting sold.

1214
01:03:08.480 --> 01:03:10.639
That's selling products, and that's the one thing that we

1215
01:03:10.760 --> 01:03:14.559
don't do. We will, we will, we will present a plan.

1216
01:03:15.239 --> 01:03:18.639
We don't sell products. And when you have a whole plan,

1217
01:03:19.239 --> 01:03:22.360
that means you have allocations in all different areas you have,

1218
01:03:22.599 --> 01:03:25.920
you have ways to increase your income, you meet your goals.

1219
01:03:25.920 --> 01:03:31.880
Because everybody's h situation is different, different different uh social security,

1220
01:03:32.199 --> 01:03:37.360
different pensions, no pensions, different amounts of money, different inheritances.

1221
01:03:37.719 --> 01:03:40.599
It all comes into play. People have health problems, people

1222
01:03:40.679 --> 01:03:42.719
don't have health problem. People have kids, they don't have kids,

1223
01:03:42.719 --> 01:03:44.880
They have weddings, they don't have weddings, you know what

1224
01:03:44.920 --> 01:03:47.159
I mean. And there's all these things that come into

1225
01:03:47.199 --> 01:03:50.800
play for the plan. But once you have a plan,

1226
01:03:51.000 --> 01:03:53.639
it's so easy to get through it. And there are

1227
01:03:53.719 --> 01:03:55.199
going to be a time that the markets are going

1228
01:03:55.239 --> 01:03:59.400
to go down. That's why our strategic income model allows

1229
01:03:59.440 --> 01:04:02.320
people to weigh five years to worry about for the

1230
01:04:02.400 --> 01:04:04.880
markets coming down for this stuff to come back. You

1231
01:04:04.920 --> 01:04:07.559
know what I mean by having five years set up

1232
01:04:08.039 --> 01:04:11.880
boom boom boom, which actually would extend to probably eight years. Yeah,

1233
01:04:11.880 --> 01:04:13.880
you know all the time that they know they're gonna

1234
01:04:13.920 --> 01:04:16.480
get paid the same amount of buney every single month.

1235
01:04:16.559 --> 01:04:18.960
And what you're talking about is sequence of returns risk,

1236
01:04:19.320 --> 01:04:22.599
because if you have a bad year, it's like you

1237
01:04:22.800 --> 01:04:24.760
just splashed out some water out of your bucket. You

1238
01:04:24.880 --> 01:04:26.880
need to pour water into the next year's bucket, whether

1239
01:04:26.880 --> 01:04:29.880
you like it or not. So having water splash that

1240
01:04:30.000 --> 01:04:31.719
means you have less water to put in another month.

1241
01:04:31.920 --> 01:04:34.519
But if you have a safety bucket and there is

1242
01:04:34.599 --> 01:04:36.920
no splashing going around in that bucket and your wrist

1243
01:04:36.960 --> 01:04:38.559
bucket is a little less, you don't have to worry

1244
01:04:38.599 --> 01:04:39.719
about the splashes so much.

1245
01:04:39.840 --> 01:04:42.119
Then you add on the mitigating of risk, which we've

1246
01:04:42.199 --> 01:04:46.480
done the increase in cash value of bunny markets that

1247
01:04:46.519 --> 01:04:49.360
we put cash away waiting to see what happens to Yeah,

1248
01:04:50.159 --> 01:04:52.519
you know, mitigating risk is such an important part of

1249
01:04:52.599 --> 01:04:55.559
the plant because once you put the plan together, someone

1250
01:04:55.639 --> 01:05:00.519
has to make the plan work execute. That's what I

1251
01:05:00.599 --> 01:05:04.440
was looking for. We execute the plan and most people

1252
01:05:04.559 --> 01:05:07.000
just hand it off to other people. And if you're

1253
01:05:07.039 --> 01:05:09.000
handing it off to other people, how do you know

1254
01:05:10.000 --> 01:05:11.400
if they're doing the right thing.

1255
01:05:11.719 --> 01:05:13.840
Most people do it just approve. Most people do it

1256
01:05:13.920 --> 01:05:15.159
just to prove you need an annuity.

1257
01:05:16.119 --> 01:05:19.639
Yeah, that's true, right, an insurance, life insurance, life insurance.

1258
01:05:19.880 --> 01:05:22.440
If you go and get a financial plan done and

1259
01:05:22.559 --> 01:05:25.519
you end up with all your money going into annuity,

1260
01:05:25.639 --> 01:05:27.599
or more than twenty five percent of your plan money

1261
01:05:27.639 --> 01:05:30.920
going to an annuity, walk out the door and have

1262
01:05:31.039 --> 01:05:31.679
somebody else.

1263
01:05:31.599 --> 01:05:34.559
To the plan come to Greenberg Financial, well, if.

1264
01:05:34.480 --> 01:05:37.920
They want, but I'm just saying twenty five percent is

1265
01:05:38.000 --> 01:05:40.960
the maximum anyone should put in to the annuity.

1266
01:05:41.280 --> 01:05:44.079
The regulatory I mean, the industry definitely standard. They don't

1267
01:05:44.119 --> 01:05:46.280
like more than fifty percent. They really you have to

1268
01:05:46.320 --> 01:05:49.000
even explain why you're doing it on the application.

1269
01:05:49.280 --> 01:05:49.679
But you're right.

1270
01:05:49.760 --> 01:05:52.079
We minimize risk, I mean that's ultimately our job. And

1271
01:05:52.119 --> 01:05:54.199
we had a client come in to a whole financial

1272
01:05:54.280 --> 01:05:57.800
plan and he was very comfortable with risk. He knew

1273
01:05:57.840 --> 01:05:59.920
what he was doing. He didn't care if the market

1274
01:06:00.119 --> 01:06:03.159
drop thirty percent because he understood they're going to come back. Ultimately,

1275
01:06:03.199 --> 01:06:05.519
he doesn't need us right, you you know how to

1276
01:06:05.559 --> 01:06:08.079
cut your own hair, You're okay with the risks if

1277
01:06:08.159 --> 01:06:10.599
it if you cut your hair wrong, right, you're okay

1278
01:06:10.639 --> 01:06:12.400
with all those yep, then fine. You you know you

1279
01:06:12.480 --> 01:06:14.960
don't need to be paying a fee. The people that

1280
01:06:15.079 --> 01:06:17.400
we're working with are the people that don't want to

1281
01:06:17.440 --> 01:06:20.840
worry about what to do when when the shoe drops.

1282
01:06:20.920 --> 01:06:23.119
They want to know someone's taking care of them. And

1283
01:06:23.280 --> 01:06:25.519
also the people that sometimes these people that have a

1284
01:06:25.679 --> 01:06:27.840
lot of knowledge, the people that can cut their own hair,

1285
01:06:28.519 --> 01:06:30.960
their significant other may not right, so they want to

1286
01:06:31.039 --> 01:06:33.880
backstop kind of when I'm not here, who's going to

1287
01:06:33.960 --> 01:06:34.920
take care of these accounts?

1288
01:06:34.960 --> 01:06:35.119
Then?

1289
01:06:35.599 --> 01:06:37.920
You know, we have a lot of those relationships that

1290
01:06:38.039 --> 01:06:40.280
you know, they're not current clients, but they've told us,

1291
01:06:40.719 --> 01:06:44.079
you know, when the time comes, please take care right.

1292
01:06:44.159 --> 01:06:46.159
His spouse who has taken care of and always made

1293
01:06:46.159 --> 01:06:48.519
all of the decisions and now is feeling that the

1294
01:06:48.639 --> 01:06:51.360
time is running out and wants to make sure that

1295
01:06:51.559 --> 01:06:53.079
the other half is taken care of.

1296
01:06:53.400 --> 01:06:56.880
And most big wirehouses aren't going to enable that, right.

1297
01:06:57.039 --> 01:06:59.239
You know, and if you have it, if you don't

1298
01:06:59.239 --> 01:07:02.159
have at least what two hundred fifty thousand, you're going

1299
01:07:02.199 --> 01:07:04.880
to be at a call center, You're not even going

1300
01:07:04.920 --> 01:07:05.639
to be dealing.

1301
01:07:05.400 --> 01:07:08.039
With talk about it, even if you have almost a million.

1302
01:07:08.159 --> 01:07:11.039
Some people are call centers now, unbelieve, really un once

1303
01:07:11.079 --> 01:07:12.159
they have a personal advisor.

1304
01:07:12.239 --> 01:07:14.480
Yeah, I mean yeah, I think a Vanguard you have

1305
01:07:14.519 --> 01:07:16.119
to be over a million to be in the private

1306
01:07:16.800 --> 01:07:19.920
thing where you get like an individual advisor. Otherwise it's

1307
01:07:20.039 --> 01:07:20.920
just the call center.

1308
01:07:21.039 --> 01:07:23.000
Yeah. I was thinking of this week of watching the

1309
01:07:23.079 --> 01:07:26.679
Carbana about those companies that have almost gone under and

1310
01:07:26.719 --> 01:07:32.320
then came back to be big stars. Peloton one that

1311
01:07:32.400 --> 01:07:35.639
we've kind of thought was down for the count first

1312
01:07:35.719 --> 01:07:38.400
good month and years, a couple of things happened. Costco

1313
01:07:38.519 --> 01:07:41.280
said they'll be selling the equipment for a limited time.

1314
01:07:41.320 --> 01:07:44.400
I think it's November first through the end of February,

1315
01:07:44.679 --> 01:07:46.559
but I mean that is the Christmas season, which is

1316
01:07:46.679 --> 01:07:49.519
kind of a good time to have your product in Costco.

1317
01:07:50.280 --> 01:07:52.239
And then they came up with a better than expected

1318
01:07:52.320 --> 01:07:55.760
earnings report on Friday and news that the Ford executive

1319
01:07:55.800 --> 01:08:00.440
Peter Stern, will serve as the company's next CEOs, up

1320
01:08:00.519 --> 01:08:04.000
sixty five percent. Yeah in October.

1321
01:08:04.280 --> 01:08:06.519
Yeah, I still don't get that thing. I mean, I'm

1322
01:08:06.559 --> 01:08:07.960
not gonna pay forty dollars a month just so I

1323
01:08:08.000 --> 01:08:09.599
could ride a bike in my living room.

1324
01:08:09.719 --> 01:08:10.119
I'm with you.

1325
01:08:10.400 --> 01:08:12.119
How much is a gym membership? Ninety?

1326
01:08:12.800 --> 01:08:12.840
No?

1327
01:08:13.800 --> 01:08:17.560
No, yeah, yeah, you're not even thinking about the type

1328
01:08:17.560 --> 01:08:20.840
of people that do that. Okay, all right, they come home,

1329
01:08:20.880 --> 01:08:22.680
they want to do it. I mean, think about it.

1330
01:08:22.720 --> 01:08:25.000
You're in a big city, you got an apartment. They

1331
01:08:25.079 --> 01:08:27.000
do what they do in the morning, so they don't

1332
01:08:27.039 --> 01:08:27.880
get up before they.

1333
01:08:28.399 --> 01:08:30.600
So you don't have to commute. And yeah, I get it.

1334
01:08:30.800 --> 01:08:31.920
Yeah, now you don't because you're living.

1335
01:08:32.079 --> 01:08:33.760
But also, if you're in forty bucks a month for

1336
01:08:33.880 --> 01:08:38.079
it just so I could ride it nothing, so I

1337
01:08:38.119 --> 01:08:39.279
could have the machine tell.

1338
01:08:39.199 --> 01:08:39.720
Me what to do.

1339
01:08:40.600 --> 01:08:42.720
If you're again, if you're in a like DJ, if

1340
01:08:42.720 --> 01:08:45.119
you're in a major city like New York or Manhattan.

1341
01:08:45.199 --> 01:08:46.720
Let's say you living in Manhattan and you come home,

1342
01:08:46.800 --> 01:08:48.720
your bike's there. You don't have to go there.

1343
01:08:48.800 --> 01:08:50.680
Most of it's even in the morning. You wake up,

1344
01:08:51.399 --> 01:08:53.359
you put on your coffee, you go work out, you

1345
01:08:53.439 --> 01:08:55.439
go take a shower, then you're ready to go right.

1346
01:08:55.359 --> 01:08:58.239
In for an expensive clothes hanger.

1347
01:08:58.560 --> 01:09:00.880
Uh, you're right, it is as I said last week,

1348
01:09:00.920 --> 01:09:03.920
it's an expensive clothes clothing. But it's kind of interesting

1349
01:09:03.960 --> 01:09:06.000
to watch Peloton. I thought they were down for the count.

1350
01:09:06.159 --> 01:09:10.920
Another one whose business is dying is Comcast. Yeah, we've

1351
01:09:10.960 --> 01:09:14.199
talked about their demise for for months. Stocks up six

1352
01:09:14.319 --> 01:09:17.359
percent on Thursday after reporting a strong quarter.

1353
01:09:17.439 --> 01:09:22.479
Because the Nickson winning. Yeah, they and then they still

1354
01:09:22.680 --> 01:09:26.880
the knicks mads in New York.

1355
01:09:26.920 --> 01:09:27.800
Are you telling me? No?

1356
01:09:27.960 --> 01:09:32.720
No, they have their own ticker, Madison MSG, but.

1357
01:09:32.800 --> 01:09:35.159
It could be under the I've been one time Comcast

1358
01:09:35.239 --> 01:09:36.039
I thought owned all that.

1359
01:09:36.600 --> 01:09:39.159
Yeah, No, MSG has its own I think they spin

1360
01:09:39.239 --> 01:09:41.359
it off because it's its own. You can invest in

1361
01:09:41.479 --> 01:09:42.880
Madison square in the team.

1362
01:09:43.399 --> 01:09:46.319
But here's a company that's that's struggling, and they came

1363
01:09:46.399 --> 01:09:48.520
up with a stronger than expected Erney's report, and they

1364
01:09:48.560 --> 01:09:52.760
also said they're considering spinning off their cable network business

1365
01:09:52.840 --> 01:09:53.800
into a separate company.

1366
01:09:54.640 --> 01:09:57.199
You know which company's struggling? Super micro computer?

1367
01:09:57.479 --> 01:09:59.960
Oh my goodness, what a week? What a week?

1368
01:10:00.800 --> 01:10:04.159
Well, and you know, okay, as soon as you have

1369
01:10:04.359 --> 01:10:06.800
SEC problems, get the hell out. I told you that

1370
01:10:06.880 --> 01:10:08.039
what it was for? Where was it?

1371
01:10:08.720 --> 01:10:08.840
Uh?

1372
01:10:09.079 --> 01:10:11.720
It dropped that first time one hundred and some odd points.

1373
01:10:11.760 --> 01:10:14.399
I said, I'm you know, out traded in a while

1374
01:10:14.439 --> 01:10:17.279
and got out four hundred points ago. I mean, it's

1375
01:10:17.359 --> 01:10:20.880
like unbelievable. But now they're having to have to change

1376
01:10:20.960 --> 01:10:22.920
the accounting the accounting firm.

1377
01:10:23.039 --> 01:10:26.560
Well, the auditor resigned. He's like, screw this, I'm out.

1378
01:10:26.640 --> 01:10:28.800
You guys are doing something wrong here. It makes you think,

1379
01:10:29.079 --> 01:10:30.119
is this an n run story?

1380
01:10:30.239 --> 01:10:31.600
Well it was Arnest and young.

1381
01:10:31.720 --> 01:10:34.079
Is that just some you know, right, it's not just

1382
01:10:34.880 --> 01:10:35.640
local auditor.

1383
01:10:36.720 --> 01:10:40.279
Here's the thing. They resigned. Now, but where were they

1384
01:10:40.319 --> 01:10:42.680
were they were doing the audit? Yeah, why didn't they

1385
01:10:42.800 --> 01:10:47.039
That's what auditors are supposed to do stuff, figure out

1386
01:10:47.079 --> 01:10:49.760
what's going on and make sure it's right and record it.

1387
01:10:49.800 --> 01:10:50.319
The right way.

1388
01:10:50.920 --> 01:10:51.920
Yeah. He also don't know.

1389
01:10:52.039 --> 01:10:54.880
Maybe they did present something. The company was like, yeah,

1390
01:10:54.960 --> 01:10:56.239
shut up, you see.

1391
01:10:56.239 --> 01:10:57.960
Well then you then you then you do. But the

1392
01:10:58.039 --> 01:10:59.960
problem is where was this before?

1393
01:11:00.359 --> 01:11:00.399
Not?

1394
01:11:00.600 --> 01:11:00.760
Now?

1395
01:11:01.119 --> 01:11:03.960
Did you see the quote from the auditors due to

1396
01:11:04.159 --> 01:11:06.800
information that had This is a quote due to information

1397
01:11:06.920 --> 01:11:09.720
that has recently come to our attention, which has led

1398
01:11:09.800 --> 01:11:12.640
us to no longer be able to rely on management

1399
01:11:13.039 --> 01:11:16.960
and the audit committee's representations, and to be unwilling to

1400
01:11:17.000 --> 01:11:20.600
be associated with financial statements prepared by management.

1401
01:11:21.359 --> 01:11:22.600
Yeah, I wouldn't touch it with a ten.

1402
01:11:23.399 --> 01:11:23.600
Yeah.

1403
01:11:24.000 --> 01:11:27.319
I mean basically, well, now people are buying of someone

1404
01:11:27.399 --> 01:11:30.399
taking them over the well.

1405
01:11:30.399 --> 01:11:34.920
The auditor says, they're very involved in AI and and

1406
01:11:35.279 --> 01:11:39.680
there may be some meat there, some meat on the bone, right. Yeah,

1407
01:11:39.680 --> 01:11:40.960
they dropped from what one hundred and.

1408
01:11:40.920 --> 01:11:45.479
Twenty computers also in Video's third largest customer, is it

1409
01:11:45.720 --> 01:11:47.840
it is and Video's third largest customer.

1410
01:11:48.199 --> 01:11:48.359
Yeah.

1411
01:11:48.399 --> 01:11:50.039
We talked about this though, and I don't think it

1412
01:11:50.239 --> 01:11:53.439
affects demand too much because that product.

1413
01:11:53.159 --> 01:11:54.920
Is so much backlogged already.

1414
01:11:55.279 --> 01:11:57.680
You know, them going away, someone's just going to enter

1415
01:11:57.760 --> 01:11:58.159
their place.

1416
01:11:58.680 --> 01:12:00.760
All right, we'll be back see to the Money by

1417
01:12:00.800 --> 01:12:04.600
the show. Don't forget. We'll also on KBOA on after

1418
01:12:04.720 --> 01:12:06.479
Meet the Press in the morning, and after the News

1419
01:12:06.520 --> 01:12:10.279
on Sunday, we'll go to our website. We're all over

1420
01:12:10.680 --> 01:12:14.000
giving you information on what's going on. Thank you for listening.

1421
01:12:14.119 --> 01:12:24.720
We'll be right back. Welcome back to the Money Matter Show.

1422
01:12:24.760 --> 01:12:26.640
I think if the forecast is right, it's going to

1423
01:12:26.680 --> 01:12:29.840
be raining and cold and miserable on Sunday.

1424
01:12:30.319 --> 01:12:31.760
Yeah, you know, I don't think we went through the

1425
01:12:32.199 --> 01:12:34.279
market numbers in the last segment, So let's do ye.

1426
01:12:34.399 --> 01:12:37.119
The doll Jones was down ten point basis points on

1427
01:12:37.279 --> 01:12:39.399
the week. The S and P was down one point

1428
01:12:39.479 --> 01:12:43.000
four percent, uh, the NASDAK was down one point five percent,

1429
01:12:43.119 --> 01:12:46.439
the russell was flat, and what they equated was down

1430
01:12:46.479 --> 01:12:49.800
one percent. The in this season finished the month. The

1431
01:12:49.920 --> 01:12:52.239
Doubt finished the month down one point three, S and

1432
01:12:52.319 --> 01:12:56.079
P down one, NASDAK down fifty basis points, the russell

1433
01:12:56.159 --> 01:12:58.319
was down one point four and the equator was down

1434
01:12:58.359 --> 01:12:59.159
one point six.

1435
01:12:59.760 --> 01:13:03.159
Was up one percent coming into Halloween, and it looked

1436
01:13:03.199 --> 01:13:06.640
like the ninth up month out of can and man,

1437
01:13:06.680 --> 01:13:08.439
I'll tell you Halloween was spooky.

1438
01:13:09.119 --> 01:13:09.319
Yep.

1439
01:13:09.520 --> 01:13:12.560
It's led by tech stocks, led by asel off in

1440
01:13:12.680 --> 01:13:17.239
tech stocks. I wish you could absolutely argue are overvalued,

1441
01:13:18.199 --> 01:13:18.720
little rich.

1442
01:13:18.960 --> 01:13:21.600
All the major indicies are only three percent off their

1443
01:13:21.640 --> 01:13:24.399
all time highs. Still very close. Yeah, we sold off

1444
01:13:24.399 --> 01:13:26.000
a percent, but we're.

1445
01:13:25.840 --> 01:13:29.000
Back nice right there, bounce back Niceland Friday, we're you know,

1446
01:13:29.159 --> 01:13:30.880
two or three percent, like Todd said, off of the

1447
01:13:30.920 --> 01:13:33.760
all time high. It's been an incredible year. The S

1448
01:13:33.840 --> 01:13:35.720
and P five hundred is still up twenty percent.

1449
01:13:35.880 --> 01:13:37.960
And I love how they said it's a week jobs report,

1450
01:13:38.039 --> 01:13:40.199
but then you saw how the ten year US interest

1451
01:13:40.279 --> 01:13:43.720
rate responded kind of searched through Friday.

1452
01:13:43.560 --> 01:13:44.840
Rates went even higher.

1453
01:13:45.000 --> 01:13:46.840
So it's not like they said, oh, this is bad. No,

1454
01:13:47.239 --> 01:13:49.039
that seems like they actually liked it. And I think

1455
01:13:49.079 --> 01:13:52.159
it's because of the average hourly earnings. People with jobs

1456
01:13:52.319 --> 01:13:54.720
are still making money and we see that through the

1457
01:13:54.800 --> 01:13:57.520
retail sales report, which does present we have a strong

1458
01:13:57.600 --> 01:14:00.880
consumer and that's a really good thing headed into holiday

1459
01:14:01.000 --> 01:14:03.520
season because we have a lot of expectations built into

1460
01:14:03.920 --> 01:14:07.119
valuations because of what normally is high spending season.

1461
01:14:07.239 --> 01:14:10.399
And we really do have a Goldilock scenario here where

1462
01:14:10.399 --> 01:14:14.479
you've got an economy that's growing, sometimes it's growing faster

1463
01:14:14.640 --> 01:14:18.000
than other times. You have interest rates that where the

1464
01:14:18.039 --> 01:14:20.680
Federal Reserve would like to see them lower. You've got

1465
01:14:20.760 --> 01:14:23.319
inflation getting close to a three or four year low.

1466
01:14:24.159 --> 01:14:28.199
A pretty nice environment for stocks, Yes, and that explains

1467
01:14:28.279 --> 01:14:32.399
why the market continues to go higher. It's resilient. The

1468
01:14:32.520 --> 01:14:35.520
one thing that I'm a little concerned about with fifty

1469
01:14:35.600 --> 01:14:37.920
years of experience that this is there just is no fear.

1470
01:14:38.560 --> 01:14:40.840
Yeah, and you scratch your head. Also, why the Fed

1471
01:14:40.960 --> 01:14:43.880
with everything you just said, why they would then't say

1472
01:14:44.199 --> 01:14:46.479
there's a ninety eight percent chance that they cut that's

1473
01:14:46.560 --> 01:14:49.960
weak because everything you just said, and they, being the FED,

1474
01:14:50.119 --> 01:14:53.880
says we're data dependent. Data says you can't cut rates.

1475
01:14:53.920 --> 01:14:56.119
I mean it's a risk because of inflation could return

1476
01:14:56.479 --> 01:14:58.760
if you get over you know, get your head over

1477
01:14:58.800 --> 01:15:02.159
your skis on this one. So yeah, I'm just very

1478
01:15:02.279 --> 01:15:06.079
surprised by the feds reaction to this data.

1479
01:15:06.560 --> 01:15:08.960
I think what the bond market is telling you is

1480
01:15:09.239 --> 01:15:13.399
what they're doing is inflationary. Yeah, they're cutting rates too fast,

1481
01:15:13.479 --> 01:15:15.880
too soon, and we're going to go right back up.

1482
01:15:16.039 --> 01:15:18.239
And that's why the long term rates have higher rates,

1483
01:15:18.279 --> 01:15:20.479
because the more market thinks they're gonna have to keep

1484
01:15:20.600 --> 01:15:22.960
they're gonna have to return to those higher rates eventually.

1485
01:15:22.640 --> 01:15:25.600
Yep, yep, And it's certainly a possibility. One of the

1486
01:15:25.680 --> 01:15:29.600
stocks that's most widely owned is Apple up on Monday

1487
01:15:30.079 --> 01:15:33.520
after the company released their iOS eighteen point one, which

1488
01:15:33.560 --> 01:15:38.760
is an upbate that includes the AI called Artificial Intelligence.

1489
01:15:39.159 --> 01:15:44.159
It's for iPhone sixteen and the iPhone fifteen Pro that's

1490
01:15:44.239 --> 01:15:46.920
the only the only ones to work on. They also

1491
01:15:47.079 --> 01:15:51.439
release release software updates for iPad and Mac with Apple

1492
01:15:51.479 --> 01:15:55.520
Intelligence in both of those. The release is a hugely

1493
01:15:55.680 --> 01:16:00.520
critical part of miles of Apples of future, and they're

1494
01:16:00.600 --> 01:16:03.479
relying on that to launch their campaign for iPhone sixteen.

1495
01:16:03.640 --> 01:16:05.840
Stock move lower on Friday. They came in with a

1496
01:16:05.880 --> 01:16:11.199
real strong quarterly report. But I think there's some concern

1497
01:16:11.279 --> 01:16:15.359
about the sales of the iPhone sixteen because they have

1498
01:16:15.520 --> 01:16:17.800
not really been off the chart. And I understand why

1499
01:16:17.800 --> 01:16:20.479
they're an after chart because there really is no compelling.

1500
01:16:20.119 --> 01:16:23.479
Reason no to go get one yet until you start

1501
01:16:23.520 --> 01:16:26.279
seeing the commercials with the use cases and what you

1502
01:16:26.359 --> 01:16:31.600
can do. And you started seeing them two three weeks ago, yes,

1503
01:16:31.680 --> 01:16:33.880
Apple started releasing them and AT and T will do it,

1504
01:16:34.039 --> 01:16:36.760
and you start seeing these, oh, this is what you

1505
01:16:36.840 --> 01:16:38.000
can do, this is what you can do with it.

1506
01:16:38.000 --> 01:16:40.000
And then when you start hearing the you know the

1507
01:16:40.279 --> 01:16:43.760
word the mouth, what I do with my iPhone sixteen now,

1508
01:16:44.199 --> 01:16:46.640
then that desire will increase. I think if there is

1509
01:16:46.680 --> 01:16:49.520
a pullback in Apple, which is a huge opportunity, because

1510
01:16:49.520 --> 01:16:51.439
you're right, in a year's time, we're all going to be,

1511
01:16:51.960 --> 01:16:56.199
you know, climbing over ourselves to get that phone. It's

1512
01:16:56.239 --> 01:16:58.359
probably a year away before that happens, you know, I

1513
01:16:58.399 --> 01:17:00.800
don't think it's a next week. We're all rushing to

1514
01:17:00.880 --> 01:17:03.720
the door. But next season, you know, the next holiday

1515
01:17:03.800 --> 01:17:06.439
season where they have another year development to put in

1516
01:17:06.800 --> 01:17:08.640
the new updates. Yeah, that thing is going to be

1517
01:17:08.760 --> 01:17:10.520
really cool and a lot of people are gonna want it.

1518
01:17:10.840 --> 01:17:13.720
And it's not an if it's win, right, absolutely win.

1519
01:17:13.920 --> 01:17:16.560
So if you're selling apple stock because you don't think

1520
01:17:16.640 --> 01:17:19.159
that Apple Intelligence is going to be all that, I

1521
01:17:19.199 --> 01:17:19.760
think you're wrong.

1522
01:17:19.960 --> 01:17:23.159
It better be for a really interesting reason.

1523
01:17:23.239 --> 01:17:25.880
I think you're wrong. I see. That's at the end

1524
01:17:25.960 --> 01:17:28.479
of the every quarter you do quarterly reports, you got

1525
01:17:28.560 --> 01:17:30.479
to feel me in your lap there. You want to

1526
01:17:30.479 --> 01:17:34.000
talk about any interesting things that happened during the October

1527
01:17:34.960 --> 01:17:35.960
in your monthly reports.

1528
01:17:36.039 --> 01:17:38.119
Nothing was really interesting. Everything has stayed the same.

1529
01:17:38.640 --> 01:17:41.319
Nothing was really interesting. Yeah, that's the best you can do.

1530
01:17:41.520 --> 01:17:44.279
You have Walmart still at the highest number.

1531
01:17:44.039 --> 01:17:46.520
One performing stock in the thirty stock down and at

1532
01:17:46.520 --> 01:17:48.079
the bottom is Intel.

1533
01:17:47.840 --> 01:17:49.960
Until you still have Boeing down there, you still have

1534
01:17:50.079 --> 01:17:55.800
Nike down there. I'm starting to look into Honeywell. Was

1535
01:17:55.880 --> 01:17:57.439
that what we were looking at earlier?

1536
01:17:57.880 --> 01:18:02.600
H O N Yeah, well, Honeywell three M number two

1537
01:18:02.760 --> 01:18:05.239
on the list for doll performance this year three M

1538
01:18:05.399 --> 01:18:07.880
number three three and again at the bottom of the

1539
01:18:07.920 --> 01:18:12.600
list for twenty three and twenty two, So look at

1540
01:18:12.640 --> 01:18:14.720
the bottom of the list I've had. I can't believe

1541
01:18:14.760 --> 01:18:18.399
the number of calls I'm getting about Boeing, about should

1542
01:18:18.439 --> 01:18:21.039
I buy Boying? Should I buy Boying? I get at

1543
01:18:21.159 --> 01:18:25.319
least a couple of calls every single day of people

1544
01:18:25.640 --> 01:18:28.720
wondering what we think about Boeying, And I think you

1545
01:18:28.800 --> 01:18:32.960
can make a case. They obviously have problems right now,

1546
01:18:33.159 --> 01:18:39.039
lots of problems, but they will figure it out. That's

1547
01:18:39.119 --> 01:18:44.279
been their history. And is it a compelling buy here?

1548
01:18:44.800 --> 01:18:44.840
No?

1549
01:18:45.800 --> 01:18:48.119
Is it a reasonable buy here at a two and

1550
01:18:48.159 --> 01:18:48.840
a half year low.

1551
01:18:48.960 --> 01:18:51.279
Yeah, Oweing's a giant. It's hard to kill a giant.

1552
01:18:51.399 --> 01:18:52.479
Hard to kill a giant giants.

1553
01:18:52.520 --> 01:18:54.800
Also, I think from the standpoint, if you've got a

1554
01:18:54.840 --> 01:18:59.760
long time frame and low risk, some risk tolerance, this

1555
01:19:00.039 --> 01:19:02.199
is the place to start an initial position. And Boing

1556
01:19:02.279 --> 01:19:04.880
And again, we don't recommend the stock because we don't

1557
01:19:04.920 --> 01:19:07.479
know your investment objectives, we don't know your risk tolerance.

1558
01:19:07.520 --> 01:19:09.840
So I'm not talking to you if you think I am,

1559
01:19:09.920 --> 01:19:13.000
I'm not. We're just simply making a comment that the

1560
01:19:13.079 --> 01:19:16.640
stock does look attractive at these levels. A lot of

1561
01:19:16.800 --> 01:19:20.359
big name companies reported last week Amazon came out a

1562
01:19:20.720 --> 01:19:23.560
big rally on Friday, got close to US all time high,

1563
01:19:23.920 --> 01:19:29.720
stronger than expected earnings, robust cloud, good advertising growth, revenue

1564
01:19:29.800 --> 01:19:33.039
first Amazon Web Services, and that's the that's the engine

1565
01:19:33.079 --> 01:19:38.600
that drives Amazon is Amazon Web Services nineteen percent growth

1566
01:19:38.960 --> 01:19:41.000
year over year, nineteen percent.

1567
01:19:41.439 --> 01:19:42.960
I wasn't done with my report.

1568
01:19:42.760 --> 01:19:44.640
Though, I know I think you said nothing was interesting.

1569
01:19:44.680 --> 01:19:46.159
I was interesting.

1570
01:19:46.279 --> 01:19:48.199
Well, you got that somep sectors that I'm looking at,

1571
01:19:48.239 --> 01:19:50.439
and you got XLU still at the top. And if

1572
01:19:50.439 --> 01:19:53.840
you remember an XLU is utility sector.

1573
01:19:53.920 --> 01:19:55.800
Okay, so the utilities are leading the way.

1574
01:19:56.159 --> 01:19:57.800
They are leading the way. And if you remember from

1575
01:19:57.800 --> 01:19:59.560
a couple of shows ago, we did speak about the

1576
01:19:59.640 --> 01:20:02.279
fact that that was the worst performing sector of twenty

1577
01:20:02.359 --> 01:20:04.720
twenty three. It was now twenty twenty four of the

1578
01:20:04.800 --> 01:20:08.239
top performing sector. Looking at the worst performing sector of

1579
01:20:08.239 --> 01:20:09.760
twenty twenty four, we have energy.

1580
01:20:11.279 --> 01:20:14.920
Interesting, yeah, interesting, where I wonder how long the utilities

1581
01:20:14.960 --> 01:20:17.920
will stay on top if this rise in interest rates continues.

1582
01:20:18.359 --> 01:20:20.920
And they're very capital intensive companies, they have a lot

1583
01:20:20.960 --> 01:20:21.239
of debt.

1584
01:20:21.560 --> 01:20:23.159
In a year that the Nasdaq is up, you know,

1585
01:20:23.279 --> 01:20:25.079
twenty one and a half percent, you would think that

1586
01:20:25.199 --> 01:20:28.880
the technology sector XLK would be front running all these things,

1587
01:20:28.920 --> 01:20:31.479
but they're not. They're in the middle, sixteen sixteen percent

1588
01:20:31.560 --> 01:20:31.920
on the air.

1589
01:20:32.600 --> 01:20:37.960
Interesting, very interesting. I did notice the value ETFs or

1590
01:20:38.199 --> 01:20:40.439
have been really strong this year. Yes, I think one

1591
01:20:40.479 --> 01:20:43.960
of the top two performing in value ETFs were equal

1592
01:20:44.079 --> 01:20:46.000
to the S and P five hundred. Yeah, they're right there,

1593
01:20:46.359 --> 01:20:49.960
which you don't expect to see. And I noticed on I.

1594
01:20:49.960 --> 01:20:54.439
Think S the SPYD was right there with it. I

1595
01:20:54.479 --> 01:20:55.560
think I might have outperformed it.

1596
01:20:55.680 --> 01:20:59.199
Actually, my favorite has always been DVY, and I don't

1597
01:20:59.239 --> 01:21:01.520
know why it lasts for much of twenty three and

1598
01:21:01.600 --> 01:21:03.039
I kind of fell out of love with it. But

1599
01:21:03.520 --> 01:21:05.640
twenty four has been back, you know, hitting on all

1600
01:21:05.640 --> 01:21:10.239
the cylinders. And I noticed on Halloween with the U

1601
01:21:11.359 --> 01:21:13.239
S and P five hundred down about one and a

1602
01:21:13.279 --> 01:21:18.239
half percent, the NAZA down about three percent, the DVY

1603
01:21:18.439 --> 01:21:21.640
was actually up on the day, the value ETF. And

1604
01:21:21.720 --> 01:21:24.319
that's what will happen when when things get volatile, US

1605
01:21:25.680 --> 01:21:30.319
stock investors flee first to the value and then if forgets,

1606
01:21:30.560 --> 01:21:33.039
if the selling continues, then they'll flee from that. But

1607
01:21:33.760 --> 01:21:35.479
that's the first stop. Is Okay, I want to be

1608
01:21:35.560 --> 01:21:38.279
in the market, but I don't want to be necessarily

1609
01:21:38.359 --> 01:21:41.560
involved in technology. So uh, maybe I'll take a look

1610
01:21:41.600 --> 01:21:45.199
at the value ETF one. That one that just fascinating

1611
01:21:45.279 --> 01:21:49.600
this week is Eli Lilly. That stock is priced for perfection.

1612
01:21:50.239 --> 01:21:52.960
They've got the g l P one, the weight loss drugs,

1613
01:21:53.239 --> 01:21:55.720
the two the one for diabetes and the one for

1614
01:21:55.800 --> 01:21:58.439
weight loss mangorro uh is uh?

1615
01:21:58.760 --> 01:21:59.359
And was it?

1616
01:22:00.159 --> 01:22:00.319
Yes?

1617
01:22:01.000 --> 01:22:01.399
Borrow?

1618
01:22:01.479 --> 01:22:03.960
And it doesn't matter that they have two of the

1619
01:22:04.000 --> 01:22:06.039
biggest weight loss drugs. They have two of the biggest

1620
01:22:06.079 --> 01:22:09.119
weight loss drugs out there. But at five times earnings,

1621
01:22:09.199 --> 01:22:13.000
just excuse me, at sixty times earnings, it's five times

1622
01:22:13.079 --> 01:22:15.720
the price of any other drug company out there. And

1623
01:22:15.880 --> 01:22:19.960
so when they issued a disappointing quarterly report on Wednesday,

1624
01:22:19.960 --> 01:22:23.600
it dropped fifteen percent. Net income was twenty percent below

1625
01:22:24.079 --> 01:22:27.319
what was expected. And with that high valuation, there's just

1626
01:22:27.399 --> 01:22:29.880
no room for disappointment. However, the stock did recover. That

1627
01:22:30.039 --> 01:22:33.680
was a volatile day. Wednesday, dropped fifteen percent, came back

1628
01:22:33.720 --> 01:22:37.760
about seventy percent of that before closing down six percent.

1629
01:22:38.000 --> 01:22:41.880
But the selling did continue on Thursday and Friday. Stock

1630
01:22:42.000 --> 01:22:44.359
finished the week down about eight percent. And I wondered,

1631
01:22:45.119 --> 01:22:47.239
you know, is it the demand issue.

1632
01:22:47.880 --> 01:22:49.760
No, remember we were talking about it. I don't think

1633
01:22:49.760 --> 01:22:51.640
it's a demand issue whatsoever. I think it's more of

1634
01:22:51.680 --> 01:22:55.119
a price issue, right, and supply issue.

1635
01:22:55.199 --> 01:22:58.680
Okay, so it's like Tesla's it's a demand issue at

1636
01:22:58.760 --> 01:23:01.439
this price, at this price, correct, and so you can.

1637
01:23:01.680 --> 01:23:05.319
I think there's a good comparison there. So I think

1638
01:23:05.720 --> 01:23:08.720
many people would be willing to take the weight loss

1639
01:23:09.199 --> 01:23:14.359
injection if they could afford it. I was talking one

1640
01:23:14.359 --> 01:23:15.039
thousand bucks.

1641
01:23:15.359 --> 01:23:17.960
Is it a week or a month for the supply?

1642
01:23:18.239 --> 01:23:21.000
Yeah? How often do you have to take the injections?

1643
01:23:21.279 --> 01:23:21.399
Oh?

1644
01:23:21.479 --> 01:23:22.399
I think it's a weekly thing?

1645
01:23:22.560 --> 01:23:24.439
Is a weekly? They're eight hundred to one thousand dollars

1646
01:23:24.479 --> 01:23:28.640
an injection. And I wonder too, how much influence the

1647
01:23:28.760 --> 01:23:32.319
compounders have. You remember compounding pharmacies are companies that are

1648
01:23:32.359 --> 01:23:37.279
brought in when major drug companies have a shortage of

1649
01:23:37.520 --> 01:23:42.479
ability to meet demand and expires. Yeah, and so they

1650
01:23:42.520 --> 01:23:45.239
brought in all of these compounding pharmacies to help them

1651
01:23:45.319 --> 01:23:48.680
make this drug, these drugs when there was a shortage,

1652
01:23:49.000 --> 01:23:51.640
and they gave the compounding pharmacies all the formulas and

1653
01:23:51.680 --> 01:23:54.439
all the ways to do it. The compounding pharmacists start

1654
01:23:54.479 --> 01:23:58.079
pumping these things out, really helping them out. And now

1655
01:23:58.119 --> 01:24:00.319
they're saying, well, well, there's plenty of supply. I don't

1656
01:24:00.319 --> 01:24:02.479
know if that's because of a lot of supply or

1657
01:24:02.640 --> 01:24:04.880
declining demand at these prices.

1658
01:24:05.520 --> 01:24:08.159
You know, I think it's like cigarets. I don't think

1659
01:24:08.199 --> 01:24:11.399
it's a drug that you start and then just stop

1660
01:24:11.479 --> 01:24:11.840
right away.

1661
01:24:11.880 --> 01:24:13.359
Well, yeah, you can't. You have to keep doing it.

1662
01:24:13.359 --> 01:24:14.399
I don't think it's addictive.

1663
01:24:15.039 --> 01:24:17.560
No, it's not addictive. Right, it's not addictive. But you're

1664
01:24:17.560 --> 01:24:20.520
gonna but you're gonna continue to take the medicine. You're

1665
01:24:20.560 --> 01:24:22.920
going to continue to be on this injection because of

1666
01:24:22.960 --> 01:24:24.680
the second that you get off of it, you're gonna gain.

1667
01:24:24.520 --> 01:24:25.119
All the weight back.

1668
01:24:25.319 --> 01:24:27.840
Yeah, most people would like to lose weight. Most people,

1669
01:24:28.359 --> 01:24:32.239
not everybody. Do you lose weight, you'd shrivel up and disappear.

1670
01:24:32.600 --> 01:24:34.279
But most people would like to lose weight. So there

1671
01:24:34.359 --> 01:24:37.399
is demand for the product, but the price is so high.

1672
01:24:37.399 --> 01:24:40.560
I'm wondering if the compounders are stealing Marcus share anyway,

1673
01:24:40.680 --> 01:24:45.079
Lily rough week, we'll be back with the last segment

1674
01:24:45.119 --> 01:24:52.720
of The Money Matter Show. Nothing Welcome back to the

1675
01:24:52.800 --> 01:24:55.159
Money Matter Show. This is the last segment we appreciate

1676
01:24:55.239 --> 01:24:57.800
you taking time to join us. If the weather forecast

1677
01:24:57.960 --> 01:25:00.880
is cracked, there's nothing else you could do today. Ten

1678
01:25:00.960 --> 01:25:04.720
As of freeze, yes, it is interesting every now and

1679
01:25:04.760 --> 01:25:08.560
then we go from summer straight into winter. I'm a

1680
01:25:08.600 --> 01:25:11.079
big fan of that to six week or eight week

1681
01:25:11.119 --> 01:25:14.119
period we have between summer and winter and between winter

1682
01:25:14.199 --> 01:25:17.439
and spring where it's eighty degree high fifty five degree low.

1683
01:25:18.119 --> 01:25:21.479
Absolutely perfect. So we'll see if the weather forecast is correct.

1684
01:25:21.479 --> 01:25:24.920
But Sunday's supposed to be gold and rainy, golden rainy. Yeah.

1685
01:25:25.560 --> 01:25:27.920
Fortunately no freeze warning though, And that's I always say

1686
01:25:27.960 --> 01:25:30.600
that because I have go cover everything. That's really annoying.

1687
01:25:30.760 --> 01:25:32.880
Well again, lots of big names reporting, Todd.

1688
01:25:32.840 --> 01:25:35.079
Yeah, well, I mean we had big names report obviously.

1689
01:25:35.159 --> 01:25:39.640
Google also reported this week. They had a great reaction

1690
01:25:39.800 --> 01:25:43.039
at first, but then as the day went on, I

1691
01:25:43.039 --> 01:25:45.800
think they only finished up three percent after that report.

1692
01:25:46.880 --> 01:25:49.359
But on the week they still finished up decently.

1693
01:25:49.560 --> 01:25:51.920
Yeah. I was surprised to see their cloud revenue growth

1694
01:25:52.079 --> 01:25:55.079
was up thirty five percent. That's pretty darn impressive. And

1695
01:25:55.119 --> 01:25:56.800
now a lot of people have thought that that area

1696
01:25:56.880 --> 01:25:58.840
might be struggling a little bit. That's not struggling.

1697
01:25:59.279 --> 01:26:01.760
No, they're making money and at the end of the day,

1698
01:26:01.760 --> 01:26:04.239
they have a lot of businesses that are very strong,

1699
01:26:04.840 --> 01:26:07.000
and you know when it comes to YouTube to search,

1700
01:26:07.359 --> 01:26:09.760
that's the only thing that on a long term basis.

1701
01:26:09.840 --> 01:26:13.000
The AI chatbots could take some business away from Google

1702
01:26:13.600 --> 01:26:17.359
when people start using that instead of Google. But I

1703
01:26:17.399 --> 01:26:19.479
think it's a little bit of a long maybe a

1704
01:26:19.520 --> 01:26:21.479
two three runway before you start to see that market

1705
01:26:21.520 --> 01:26:23.000
share get depleted from Google.

1706
01:26:23.600 --> 01:26:28.079
Local company Vulcan Materials, the largest producer of construction aggregate

1707
01:26:28.399 --> 01:26:30.239
and that's the stuff you put in the concrete to

1708
01:26:30.279 --> 01:26:33.199
make it bind. They had a good report, Yeah, very

1709
01:26:33.279 --> 01:26:36.720
nice quarterly reports. Share jumped seven percent to a new

1710
01:26:36.800 --> 01:26:39.039
all time high. That's not a new all time high.

1711
01:26:39.039 --> 01:26:40.279
I've got a new all time high. I don't think

1712
01:26:40.319 --> 01:26:42.880
that was an all time high. I don't know why

1713
01:26:42.920 --> 01:26:47.800
I put that down there. Despite reporting revenue below expectations,

1714
01:26:48.199 --> 01:26:51.880
several hedge funds disclosed new positions in the stock, and

1715
01:26:52.079 --> 01:26:55.479
Barclay's raised the stock to a buy. So that's a

1716
01:26:55.640 --> 01:26:58.880
nice rime. You guys are involved in First Solar they

1717
01:26:59.000 --> 01:27:02.279
plunged on That was really weird, weird to see because

1718
01:27:02.319 --> 01:27:04.479
of the stock plant. It was Tuesday whoa, whoa to

1719
01:27:04.560 --> 01:27:09.359
find plunge Tuesday seven percent? Pretty good drop nobody. Here's

1720
01:27:09.359 --> 01:27:12.640
the point. It drops seven percent and it came all

1721
01:27:12.640 --> 01:27:13.119
the way back.

1722
01:27:13.439 --> 01:27:16.079
It was unchanged, right, had a big Friday.

1723
01:27:16.439 --> 01:27:17.520
That's that's what I was gonna get.

1724
01:27:17.520 --> 01:27:19.640
It wasn't Friday, it was Wednesday or Thursday.

1725
01:27:20.359 --> 01:27:21.680
Was up six percent on Friday.

1726
01:27:21.680 --> 01:27:23.199
It was up another six percent Friday.

1727
01:27:23.279 --> 01:27:23.439
Yeah.

1728
01:27:23.439 --> 01:27:25.399
When you see a stock drop seven percent like that

1729
01:27:25.439 --> 01:27:27.439
and they come right back, you go, yeah, there's some

1730
01:27:27.560 --> 01:27:28.399
interest in the stock.

1731
01:27:28.840 --> 01:27:29.039
Yeah.

1732
01:27:29.079 --> 01:27:31.600
And you know sometimes that's also because the technical things

1733
01:27:32.680 --> 01:27:34.319
you see a chart just want to go down and

1734
01:27:34.439 --> 01:27:36.319
touch a level, and then all of a sudden it

1735
01:27:36.399 --> 01:27:37.159
just bounces off of it.

1736
01:27:37.239 --> 01:27:39.319
Right when I guess my point to when you see

1737
01:27:39.319 --> 01:27:42.159
a bounce like that, you probably want to pick a

1738
01:27:42.199 --> 01:27:42.640
look at it.

1739
01:27:42.760 --> 01:27:45.920
Yeah. Well I'm saying it bounced right off a Fibonacci level. Yeah,

1740
01:27:46.239 --> 01:27:47.439
that I was looking at.

1741
01:27:47.560 --> 01:27:51.000
So it's what about bouncing Lululemon on Friday? That was cool,

1742
01:27:51.279 --> 01:27:53.319
lou And no news news whatsoever.

1743
01:27:53.479 --> 01:27:56.279
I saw no news whatsoever. Lulu Lemon had dropped from

1744
01:27:56.680 --> 01:27:59.159
I want to say it's been cut in half. Yeah,

1745
01:27:59.359 --> 01:27:59.840
down fifty.

1746
01:28:00.880 --> 01:28:01.000
Uh.

1747
01:28:01.199 --> 01:28:04.039
There was a feeling that they might have lost their mojo.

1748
01:28:04.960 --> 01:28:07.399
Yeah, and then they got rid of their their design

1749
01:28:07.479 --> 01:28:08.399
guy designed guy.

1750
01:28:08.520 --> 01:28:12.640
Yep or gal whatever design person. And the stock dropped

1751
01:28:12.640 --> 01:28:14.840
down around two hundred and twenty bucks. Closed Friday at

1752
01:28:14.840 --> 01:28:17.439
three hundred and twenty bucks or thereabouts.

1753
01:28:17.479 --> 01:28:20.039
So I don't think we talked about Microsoft. Yeah, I

1754
01:28:20.079 --> 01:28:22.760
got that on my list for next Yeah. Not they

1755
01:28:22.800 --> 01:28:26.319
weren't very impressed constrained capacity.

1756
01:28:26.640 --> 01:28:33.800
Yeah, but I also Microsoft is infamous for cautious guidance. Yeah.

1757
01:28:34.079 --> 01:28:37.560
They always give cautious guidance. It's just a very conservative company.

1758
01:28:38.079 --> 01:28:42.199
And their guidance was their results over the last ninety

1759
01:28:42.279 --> 01:28:46.079
days were not terrible, but the guidance was a little

1760
01:28:46.119 --> 01:28:48.319
bit below what people wanted to see.

1761
01:28:49.000 --> 01:28:50.600
Up eight and a half percent on the air.

1762
01:28:50.960 --> 01:28:54.439
Yeah, yeah, a Meta one of the strongest stocks with

1763
01:28:54.520 --> 01:28:57.079
a year to day gain of nearly seventy percent that

1764
01:28:57.279 --> 01:29:00.760
backed off after a strong Ernie's report. They showed a

1765
01:29:00.880 --> 01:29:04.119
nineteen percent increase on revenue. I'm thinking, as I looked

1766
01:29:04.159 --> 01:29:06.479
at that stock, it's got to be just simple profit

1767
01:29:06.560 --> 01:29:08.079
taking after I kind of run.

1768
01:29:09.039 --> 01:29:09.640
But also.

1769
01:29:11.600 --> 01:29:14.960
Zuckerberg said that he's going to be spending a lot

1770
01:29:15.000 --> 01:29:17.359
of money in twenty five because AI. So he kind

1771
01:29:17.399 --> 01:29:19.439
of warned that. Yeah, and I think he did that

1772
01:29:19.640 --> 01:29:22.880
because of the reaction of how the spending on his

1773
01:29:23.119 --> 01:29:26.439
VR went two years ago. And if you remember that,

1774
01:29:26.680 --> 01:29:30.319
Meta plunged two hundred bucks they thought quarter after quarter,

1775
01:29:30.399 --> 01:29:32.039
and he was terrible because he's spending all his money

1776
01:29:32.079 --> 01:29:35.000
on this dead endustry idiot. Yeah, and you know, it's

1777
01:29:35.039 --> 01:29:38.720
still not that crazy popular VR, but you know, he's

1778
01:29:38.840 --> 01:29:41.479
he realizes that you spend a lot of money. And

1779
01:29:41.479 --> 01:29:43.199
then he did a whole bunch of cost cutting and

1780
01:29:43.359 --> 01:29:45.279
changed the cost structure of the company and people liked it.

1781
01:29:46.199 --> 01:29:48.079
And the stock is, you know, from one hundred to

1782
01:29:48.560 --> 01:29:50.640
back to five. It's crazy how fast it went.

1783
01:29:50.840 --> 01:29:52.760
I remember Kramer back when it was like at one

1784
01:29:52.840 --> 01:29:55.560
hundred or it was maybe eighty dollars a share at

1785
01:29:55.560 --> 01:29:59.199
this point, and Kramer's just talking about how irresponsible Zuckerberg is.

1786
01:30:00.000 --> 01:30:02.800
Responsibly he's spending. Yeah, and then ever since that point,

1787
01:30:02.840 --> 01:30:05.359
what's done. So it's five hundred and fifty dollars to

1788
01:30:05.359 --> 01:30:05.840
share whatever.

1789
01:30:06.119 --> 01:30:09.039
Yeah, it's very crazy how fast that stock turned around.

1790
01:30:09.079 --> 01:30:11.479
But he warned about heavy AI spending, and I think

1791
01:30:11.520 --> 01:30:12.800
we're going to see that with a lot of tech

1792
01:30:12.840 --> 01:30:16.720
companies right, potentially more spending than we anticipated, which might

1793
01:30:16.920 --> 01:30:19.079
drag on earnings. Who knows.

1794
01:30:19.640 --> 01:30:21.920
If you if you're listening to the show and have

1795
01:30:22.079 --> 01:30:25.800
never invested in stocks and would like to know a

1796
01:30:25.840 --> 01:30:28.600
little bit more about what your risk tolerance might actually be,

1797
01:30:29.239 --> 01:30:31.439
give us a call. We certainly can help you with that.

1798
01:30:32.199 --> 01:30:34.560
If you have a four to one K that has

1799
01:30:35.079 --> 01:30:38.159
gone up fifty percent in the last two years and

1800
01:30:38.319 --> 01:30:40.720
you're concerned, and I've had a few of those calls,

1801
01:30:41.359 --> 01:30:43.640
give us a call. We can drop that four to

1802
01:30:43.680 --> 01:30:47.920
one K allocation into our database and tell you how

1803
01:30:47.960 --> 01:30:52.079
it's rated in terms of the volatility, in terms of aggressiveness,

1804
01:30:52.159 --> 01:30:55.359
in terms of whether or not it fits your investment profile.

1805
01:30:55.399 --> 01:30:56.960
A lot of people have old four to one kids

1806
01:30:57.000 --> 01:30:58.920
that they don't even know how it's invested. Not a

1807
01:30:59.000 --> 01:31:01.680
clue clue, and people don't really I mean, just because

1808
01:31:01.680 --> 01:31:03.600
he's with an old employer, you can still roll it

1809
01:31:03.640 --> 01:31:06.439
into an IRA and have a grow for you properly.

1810
01:31:06.520 --> 01:31:08.880
Yeah, it sounds like it sounds like something we would

1811
01:31:08.960 --> 01:31:11.439
say because that means business for us. But in the

1812
01:31:11.520 --> 01:31:14.920
truth of the matter, four one ks are restricted in

1813
01:31:15.079 --> 01:31:19.119
the types of investments that they can can do. Simply

1814
01:31:19.199 --> 01:31:23.520
be simply out of practicality. Right. The company that's offering

1815
01:31:23.600 --> 01:31:26.359
the four one K has some liability, so they're going

1816
01:31:26.439 --> 01:31:29.800
to give you some very basic, plain vanilla choices. Here's

1817
01:31:29.840 --> 01:31:33.039
your stocks, here's your bonds. Uh, there are no inverse

1818
01:31:33.119 --> 01:31:36.600
funds in there. You can't buy individual bonds in there.

1819
01:31:36.920 --> 01:31:40.239
There's just you come out of that into an IRA.

1820
01:31:40.920 --> 01:31:46.319
The IRA will allow you to buy tens of thousands

1821
01:31:46.399 --> 01:31:49.760
of different vehicles, none of which are available in your

1822
01:31:49.800 --> 01:31:52.680
four to one K. So if you're retired, if you

1823
01:31:52.720 --> 01:31:55.439
have an old four to one K, do yourself a

1824
01:31:55.560 --> 01:31:58.760
favor and at least talk to someone about it. Talk

1825
01:31:58.840 --> 01:32:01.359
to someone about what might be available for you and.

1826
01:32:01.399 --> 01:32:03.720
See how it fits within your whole financial plan.

1827
01:32:04.279 --> 01:32:07.199
Yes, because there's there's a there's a god. That was

1828
01:32:07.239 --> 01:32:11.880
a great catch because there's just so little attention paid

1829
01:32:12.479 --> 01:32:15.399
to for one case in general, which is a good thing.

1830
01:32:15.800 --> 01:32:17.000
I mean, the worst thing you can do with your

1831
01:32:17.000 --> 01:32:18.840
for one case try to trade it, look at it

1832
01:32:18.920 --> 01:32:20.920
every day. Yeah, if you if you can just find

1833
01:32:20.960 --> 01:32:25.000
the allocation that is correct for you and just leave

1834
01:32:25.039 --> 01:32:29.079
it alone, which most people do, that's a wonderful thing. Yeah.

1835
01:32:29.279 --> 01:32:32.159
And uh, if you have an old one sitting out

1836
01:32:32.199 --> 01:32:35.079
there though. Please get it into an IRA. Please talk

1837
01:32:35.119 --> 01:32:38.119
to someone. H There's a myriad of things that you

1838
01:32:38.279 --> 01:32:41.520
can do. We'll have an election next week.

1839
01:32:41.640 --> 01:32:42.399
I've got something.

1840
01:32:42.560 --> 01:32:42.960
Go ahead.

1841
01:32:43.880 --> 01:32:45.560
What do you think just got taken out of the dell?

1842
01:32:46.359 --> 01:32:47.960
Just got taken out of it, just got.

1843
01:32:47.840 --> 01:32:50.279
Taken out of the dell, and we're gonna replace it.

1844
01:32:51.439 --> 01:32:54.560
Tel Intel is now out of the Dell and is

1845
01:32:54.640 --> 01:32:55.960
to be replaced by Nvideo.

1846
01:32:56.840 --> 01:32:59.800
Oh my goodness. And that that goes with with d

1847
01:33:00.119 --> 01:33:03.199
always says is if you buy the indexes, you're always

1848
01:33:03.239 --> 01:33:05.920
gonna work out because if they've got one that's not working,

1849
01:33:06.439 --> 01:33:08.520
they'll get rid of it and replace it with something

1850
01:33:08.600 --> 01:33:11.319
that is working. So here you've got the worst performing

1851
01:33:11.399 --> 01:33:15.840
stock of the year in the Dow being replaced by

1852
01:33:15.920 --> 01:33:18.760
one of the best performing stocks over the last two years.

1853
01:33:19.279 --> 01:33:21.039
And I how does that going to work out? That's

1854
01:33:21.239 --> 01:33:22.199
I don't know, that's crazy.

1855
01:33:22.680 --> 01:33:24.000
Well we saw X okay do it.

1856
01:33:24.439 --> 01:33:27.159
And the one thing you generally is a this is

1857
01:33:27.319 --> 01:33:29.560
tongue in cheek, but kind of a rule of thumb

1858
01:33:29.720 --> 01:33:32.039
is when a stock is being added to the thirty

1859
01:33:32.119 --> 01:33:36.239
stock Dow, you want to short it. It's just doesn't

1860
01:33:36.279 --> 01:33:38.720
seem like it ever works out initially.

1861
01:33:38.479 --> 01:33:41.359
But initially also, I mean there's gonna be a lot

1862
01:33:41.399 --> 01:33:44.600
of money going into it with that rebalancing. They got

1863
01:33:44.760 --> 01:33:46.439
Intel put into Friday Afternoon.

1864
01:33:46.479 --> 01:33:50.199
We get rid of Intel and replace it with the Nvidio.

1865
01:33:50.279 --> 01:33:53.000
You know a company that's also not doing well st Laud.

1866
01:33:53.560 --> 01:33:57.319
They were down twenty four percent on the week off

1867
01:33:57.399 --> 01:34:02.800
of earnings. That not necessarily disappoint They did be on earnings,

1868
01:34:02.840 --> 01:34:07.079
but they did very bad on revenue and not very bad,

1869
01:34:07.119 --> 01:34:09.960
but they missed it slightly. And the Yeah, that company,

1870
01:34:10.039 --> 01:34:12.640
they must have had really bad guidance because down twenty

1871
01:34:12.680 --> 01:34:15.880
four percent on a year that they're already down very

1872
01:34:15.920 --> 01:34:19.359
big on. Yeah, you know why year to date down

1873
01:34:19.439 --> 01:34:20.239
fifty four percent.

1874
01:34:20.359 --> 01:34:20.760
You know why?

1875
01:34:21.000 --> 01:34:21.279
China?

1876
01:34:21.520 --> 01:34:24.560
China, Oh, very good, Toddy, very good. Yeah, they have

1877
01:34:24.680 --> 01:34:28.279
a huge presence in China and the economy there is

1878
01:34:29.199 --> 01:34:34.880
so bad that cosmetics are not being to your first

1879
01:34:34.920 --> 01:34:36.720
dollars are not going to buy cosmetics.

1880
01:34:38.079 --> 01:34:41.199
They actually lost money this quarter, which is the first

1881
01:34:41.239 --> 01:34:42.800
time they lost money in over a year.

1882
01:34:43.479 --> 01:34:45.239
Another one they can't seem to get out of its

1883
01:34:45.279 --> 01:34:48.840
own way is forward. Oh sheris continue to disappoint down

1884
01:34:48.880 --> 01:34:52.199
another two percent this year, down two percent this year,

1885
01:34:52.399 --> 01:34:55.960
dropped eight percent at the open on Tuesday, reported an

1886
01:34:56.000 --> 01:35:00.319
inline quarter but disappointing guidance. They continue to struggle. They've

1887
01:35:00.359 --> 01:35:05.960
got some reasonably decent looking products, but they just are

1888
01:35:06.239 --> 01:35:10.239
having a difficult time executing. You compare that with what's

1889
01:35:10.319 --> 01:35:14.319
going on with Mary Bearra at General Motors and the

1890
01:35:14.560 --> 01:35:18.159
kinds of things that are happening at General Motors. They're

1891
01:35:18.279 --> 01:35:21.159
just is a nine and day difference with that. I

1892
01:35:21.199 --> 01:35:24.319
will say though that the I think the Mustang mock E,

1893
01:35:25.039 --> 01:35:27.560
their electric vehicle, is one of the coolest looking electric

1894
01:35:27.640 --> 01:35:29.760
vehicles out there. And I couldn't even tell you the

1895
01:35:29.880 --> 01:35:33.479
name of the Chevrolet electric vehicle, although I know Mary

1896
01:35:33.520 --> 01:35:37.520
Barra has been a big proponent of electric and expects

1897
01:35:38.439 --> 01:35:41.439
GM to be predominantly an electric vehicle maker within the

1898
01:35:41.520 --> 01:35:45.760
next ten years. Where that goes, I don't know. You're

1899
01:35:45.800 --> 01:35:48.039
going to have to get better battery life than what

1900
01:35:48.159 --> 01:35:50.399
we have if you're going to want to get more

1901
01:35:50.479 --> 01:35:52.439
than you know, ten or twelve percent of the American

1902
01:35:52.439 --> 01:35:55.560
people driving electric vehicles, and you need to get the

1903
01:35:55.640 --> 01:35:59.439
prices down to where they're not you know, fifty six

1904
01:36:00.079 --> 01:36:04.399
our cars. So that's coming. It's a We appreciate you

1905
01:36:04.520 --> 01:36:09.439
joining us on this again. Weather forecast cold, wet Sunday morning.

1906
01:36:10.520 --> 01:36:12.560
We appreciate bringing you of the Money Matters show. We

1907
01:36:12.680 --> 01:36:15.159
enjoy it and hope you get something out of it.

1908
01:36:16.279 --> 01:36:18.600
We'll be back again next week. Good luck with the election.

1909
01:36:18.640 --> 01:36:20.159
I hope it works out the way you hope it

1910
01:36:20.239 --> 01:36:22.840
works out, assuming you want it to work out the

1911
01:36:22.880 --> 01:36:25.800
way we want to work out. Right. We want to

1912
01:36:25.840 --> 01:36:28.279
be happy, and of course we want to be healthy

1913
01:36:28.359 --> 01:36:31.279
because if you're not healthy, good chance you're not happy.

1914
01:36:31.880 --> 01:36:34.199
But at Greenberg Financial and a Greenberg Financial

1915
01:36:34.279 --> 01:36:37.520
Work us to care right, we want to be profitable

1916
01:36:38.479 --> 01:36:38.880
next week