Sept. 22, 2024

Fed Surprises with Big Rate Cut: Economic Impact & Election Insights

Fed Surprises with Big Rate Cut: Economic Impact & Election Insights

In this episode of Money Matters, brought to you by Greenberg Financial Group, we dive into the Federal Reserve’s unexpected 50 basis point rate cut and its potential effects on the economy. With the stock market hitting an all-time high, we explore...

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In this episode of Money Matters, brought to you by Greenberg Financial Group, we dive into the Federal Reserve’s unexpected 50 basis point rate cut and its potential effects on the economy. With the stock market hitting an all-time high, we explore the implications of this new rate-cutting cycle. As election season heats up, we analyze how different presidential outcomes could influence the economic landscape. Lastly, we discuss the drop in mortgage rates to their lowest level since 2022 and what it could mean for homebuilders and the housing market. Tune in for expert insights and timely analysis!
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 Sunday morning, eight o'clock right here,

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seven ninety K and st and now we bring you

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the Money Matter Show with Dean Greenberg. Well, I hope

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you enjoyed this week. It was a pretty eventful week.

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The Federal Reserve Chairman and the rest of his people

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on that board came out lowered interest rates fifty basis points,

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sending the markets up to brand new highs downs over

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forty two thousand. The S and P got over fifty

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seven hundred and just kept moving all right until Friday

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pulled backed a little bit. So the big decision is

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is that good or bad for the market, And that's

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what you're going to have to decide, because here's the deal.

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Twenty five basis points was pretty much in the cards

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for the last couple of months. Fifty basis points was

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up in the air. The question is we're not a

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two percent inflation, but we're going towards the sort of

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Our unemployment just has ticked up a little bit, not

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a lot. So when you wait, when you lower usually

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fifty bases points, it's because it's more of a problem

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in the markets, in the economy, and you're trying to

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stimulate it. Remember when you lower interest rates, it stimulates

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the economy. They're worried about inflation, but they're going to

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try to stipulate the economy. What do they know that

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we don't know, or do they even know, or they're

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just trying to appease somebody. Are they trying to have

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a stop there so the markets don't go down between

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now and the election. Well, I'll tell you I don't

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know anything about any of that stuff. I do know this.

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The markets are flashing caution. It's the way I look

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at it. When they start lowering the interests, the markets

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go up at the beginning, but they usually have a

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problem because that we get the economy, weekends, earnings slow,

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and you can't sustain the levels you're at.

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Now.

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I know you hear a lot of these people, Oh

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there's money on the sidelines. Yeah, well they're earning four

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five percent. You think they want to risk it the

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all time new hides in the market. I don't think so. Now,

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I do think they entered the market if we fail five, ten,

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fifteen percent. Absolutely, we're walking into the last week of

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September and the month of October. Those are usually the

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worst months of the year, especially coming off making new

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highs into that now we're making all time new highs.

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So be very cautious. Users as an opportunity to raise

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some cash. If they're going to continue to lower interest rates,

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that means there's something going on. But what happens if

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all of a sudden they see inflation creep back in three, four, five,

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six months and they have to reverse it and raise

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rates again. I don't know what's going to be the cause.

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I know this, there are indicators out there that are

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flashing red, and when that happens, I take a cautionary position.

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So what does that mean? I reduce my risk exposure

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doesn't mean I sell everything. It doesn't mean I go short,

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It doesn't mean I do any of those things. It

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means I reduce my exposure to risk. If I want

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to be in seventy, I bring it down to sixty

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or even fifty five. If I'm sixty, I bring it

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down to fifty maybe forty five percent. I head some

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of the accounts, we sell, some calls, we buy some puts,

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we buy insurance puts. We go into things that will

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keep us in the game, allow us to make money

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if the markets go up. I'll be it, not as much,

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but not give back all the games that we've made

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over the year. Bonds are a good place to be.

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If things get worse, they're going to have to keep

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bringing down interest rates. So if you're in those bonds,

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don't sell them, keep getting the interest four or five percent.

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If they're coming, do get what you can stay short term.

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Right now, this is how you have to go through.

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You have to mitigate risk during this period of time.

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And what's the worst case. If you mitigate risk, markets

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go up, you don't make as much money. So you know,

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instead of making five percent between now and the end

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of the year, you make two or two and a

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half percent. Okay, but what if they won down ten percent,

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fifteen percent. You don't lose that ten or fifteen percent,

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maybe lose three or four percent. Now you can get invested.

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Now it comes back. Now you're going to be able

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to make money. Look at your overall portfolio, decide what

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how much risk exposure you want, and mitigate that risk.

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It's that simple. So for the week, the markets were

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up another one point four percent for the year for

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the month. Now, the S and P, the Nasdaq, the Dow,

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they're all up about one percent for the year, So

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this week brought us back up just a little over

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one percent. Now for the year, it looks pretty good

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for most of the indicators. Dows up eleven s and

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p's up nineteen, nasdac's up nineteen, Russell's up ten, and

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equal weighted is the one that's actually been moving a bit.

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They're up twelve percent for the year. So if you

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couple that, you know, say you got an average of

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twelve percent on the upside and you got four percent

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on the downside, you're fifty to fifty, you're up about

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eight percent for the year. And so a balanced portfolio

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so should be up about eight to ten. Growth portfolio

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probably around twelve, maybe eleven twelve. Aggressive growth probably fifteen

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to twenty, depending what you're doing. And that's how you

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have to look at it. That's how you have to

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invest for the future. But you got to be careful.

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You got to be careful, and that's why we are

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very very conscious about we leaving stress for people. Get

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to know who they are, understanding who they are, look

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at their portfolio, look how they've invested, and understand their

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risk tolerance. I lived through two thousand and one I

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lived through nineteen eighty seven, I lived through two thousand

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and eight. Those were the ones that we declined and

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didn't come back right away. You know, twenty eighteen, twenty twenty,

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we fell came back right away. Those three, those big

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three in my career has taught me how to mitigate risk.

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Why want to mitigate risk? And when on see the downside? Yes,

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the markets keep coming back, but you're not a machine.

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You're not a robot, you're not an institution. You're an

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individual that each year that goes by, we get older

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and we have less time to make up for those

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down moves. And if you can avoid them, then you

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avoid them. And that doesn't mean you're not gonna lose money.

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It just means you're gonna lose and be able to

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be in position to use the money you put on

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the sidelines or that you were hedging with to buy.

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If it happens, markets go up and markets go down.

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Black Swan events happen. You don't know what they are.

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You can predict all day long. You don't know, I

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don't know. Nobody knows. They happen. That's why they call

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them black swan events. Nineteen eighty seven, when the markets

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crashed twenty percent one day. No one knew what was

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going on. That was when they started doing computerized trading

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with insurance companies and the computers took over. It just

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kept selling everything two thousand and one. Whoever expected planes

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to go ahead and bring down the World Trade Center

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two thousand and eight. Whoever ever thought that we're going

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to have an economic debacle where there are some of

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the biggest long term firms like bass Stearns and Lehman Brothers,

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to name a few, would be out of business. Nobody.

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Whoever thought there was a pandemic coming down? Nobody. But

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the one thing I do know is on a macro basis,

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the Federal Reserve is now cutting rates. When they raise rates,

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right the markets are supposed to be, they didn't raise

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That's what's interesting here. If they raised the rates, we

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never really fell off that much, except at the beginning,

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we really didn't, okay, because the economy was still doing

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well and there were stimulus in there, and we're making

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all time new highs, which is interesting because now the

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lowing interest rates are a long time all time new highs.

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So if you did that before and it was going

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why they low in the rates now, and where's that

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going to take us. If the economy is doing so

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good and the markets are doing so good, why are

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you low in interest rates? It brings back inflation, then

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what then, what are you gonna do. You're gonna have

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to raise rates again. That raising in the rates would

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be a problem. Any inclination that inflation's coming back, you'll

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see the markets fall. This is the first time I

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think that I can remember that the Federal Reserve got

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involved lowered interest rates, especially as much as they did

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within sixty days of the election, because usually when you

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lower the rates, it makes the markets go up and

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makes people feel good going into the election. But that's

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not the case. People aren't feeling good because they can't

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afford things. They're still in the same situation they were

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six months a year ago. What everybody doesn't realize is

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that just because the government tells you, oh, things are

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getting better, that doesn't mean they're getting better. If you

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get yourself in a hole, which everybody did. To get

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yourself out of the hole, you got to make more

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and then you got to pay back what you were borrowing.

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So if you were living on credit cards or borrowing

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from your for and kre you're doing whatever you're doing

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to live, you got to make more money than you

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actually make it to pay those back and live. And

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that's after tax money. You got to pay that back

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when you go pay up the credit cards. That's after

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tax money. Credit card debt is at at all time high,

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all time high. So you see where I'm coming from. Yeah,

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they could talk about how great the economy is, but

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we know, don well, it's not for everybody. The market's

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doing great. Your falling K plans are doing great, pension

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plans are doing great. But on the whole, people aren't

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doing that great. And that's where it lives. Because if

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the credit cards are at an all time high, that

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means interest payments are hurting. So bringing them down a

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little bit will help. Bringing the interest down on our

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new debt will help, And that's all to help the economy. Right.

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But I thought the economy was doing well. So there's

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a weird balance here making me a little bit nervous.

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And that is why I tell you I'm going to cautiousness.

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You cannot sit here and tell me you believe anything

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that comes out of the government. You've already seen them

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with their jobs creations. Eighty eight hundred thousand jobs that

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they told us they had they didn't have, So why

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would you believe anything else coming out of there. I don't,

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and I don't. I look at action. Lowering the interest

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rates are telling me there could be a problem, and

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that's what I'm going to go buy. It doesn't mean

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I sell everything. It doesn't mean that I can't make

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some money if it goes higher. What it means is

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protect capital. And if it does happen at some time

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over the next sixty nine months, guess what I'm prepared.

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The election's going to mean things I can't emphasize enough.

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We talk about it almost every show. The implications of

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taxes between Harris Waltz and try Dvance is incredible. While

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they both say they want to help the middle class,

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and they all say they want to help them with

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the taxes on the surface, one does it, the other doesn't.

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One has had had the ability to lower taxes, and

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he did when he was president. The other had the

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ability to do things and didn't while they were vice

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president and president, which supposedly she had input on. All

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they would rather talk about is the insults to each other,

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how stupid each other is how scary each other is?

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I mean, who wants to live in America? If you

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listen to these two, if the other one gets in,

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talk about what you're going to do on your policies

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you both have been in for four years. Talk about

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what you did, how you change it, what you can

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make better, and stop thinking that we are so ignorant.

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Stop exaggerating about stories that aren't true. I am tired

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of listening to the left. Just talk about stories. The

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Project twenty twenty five, the January sixth, all this stuff

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that goes on over and over, and a dictator in

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this and that, just taking contexts and changing it to

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their verbiage so they can pound it rather than tell

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us what they're going to do. Tell me how you're

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going to not only shut down the border and make

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us safe, but what are you going to do with

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the people that are in the United States of America

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right now? How are you going to give them a

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path that that's what you're going to do, because I

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know that's what you want to do to being legit.

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Tell me how you're going to go ahead and get

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them housing and pay all? Are you taking on tax

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money and doing that? How are they going to work,

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are they going to pay taxes? They're going to pay

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health care? Because right now, being an illegal citizen, you

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probably could be better off than the people that are

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poor because they will take care of you. You will

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get money, you will get housing, you will get education.

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But are poor people of America who are on the

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streets are veterans, what are they getting think about that

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they've had four years? Tell me your plan. Stop it

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with the abortion. Okay, it's in the hands of the States.

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The Supreme Court. They ruled against what they wanted, so

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they wanted to go ahead and change. It's like that

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kid that you always wanted to punch in the face

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when you're growing up, because all he was doing was

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I it's my ball, I'm going home. You don't do

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it my way, I'm going home. Never tough enough, never

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tough enough to admit the truth that he wasn't good

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enough to be able to be always playing. But he

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had the ball, so he played, didn't want to get better,

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and when he got upset, he took his ball of

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one home. And that's the way the Democrats act to me.

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I'm not gonna do it. We're gonna try to cheat

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we're going to try to go home. We're going to

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change the rules. Rules were made for a reason. They

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even change the rules of law. Rules of law. Think

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about it. If you shotlift less than a thousand dollars,

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it's not a crime. Why is it okay for some

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people to do it others not?

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Oh?

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Because of the corporations. Everything they do is negative against

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anybody that's been successful. Corporations that hire so many people,

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that take care of so many people, that provide health

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care for people, pensions for people, profit sharings for people.

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They're the ones that this government wants to look at.

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They want to regulate more because they think they know more.

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I keep bringing up Intel six billion dollars they touted

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to give to Intel. Intel can't get out of their

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own way. They're having problems. They got to raise more money.

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And now the rumor is maybe maybe someone's in there

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trying to buy them. So we give the six billion

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of Intel to let some other corporation come and buy

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them because they know they got cash. How does that work?

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Why does that fare? Okay? It's the government that things.

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They understand capitalism that does a very bad job. They

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know socialism. They love to hand out money for votes.

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They love to hand out money for things. When people

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need it, let's do it.

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You know.

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It's interesting they've been talking about climate all this time, right,

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and how bad it is and all these things that

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go on. When's the last time we've had a disaster. Yeah,

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we had a little bit of a hurricane, but I

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mean a real disaster years ago. You know, a few

284
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years ago, there were floods everywhere, tornadoes everywhere, everything everywhere.

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I don't hear about it as much anymore. But they

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don't want to talk about that. They just want to

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talk about when it's there, okay, And they just want

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to talk about making an issue out of the abortion

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thing and putting words in Trump's mouth. I listened to

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her on Friday. Wow, she acts like everyone's against it

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on our side. Okay, there is not not going to

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be a national ban on abortion. How many times has

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he has to say he's not going to sign a

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bill for that that it's been in the hands of

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the states. It's pure, that's it. It's in the hands

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of the states. You don't like the state you live in,

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change the voting there, just like we're trying to do

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in Arizona. They got it on the They got it

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on the on the on the ballot. That's how you

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change things by the people actually voting legitimately. But then

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you saw what happened right this week legitimately, and who

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knows what's gonna happen with the Supreme go out with

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it when they found out there were almost forty thousand

304
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duplicate signatures for trying to go get the change the

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way we vote here instead of you know, you pick

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one they want you to do picking the preference and

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then the top two go and then they vote off.

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That means you know, you're gonna have two Democrats going

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against each other instead of having a Republican and a

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Democrat for the one spot. Forty thousand duplicate signatures they

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try to get a pass. Well, now they don't have

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enough signatures, Well, the courts let it go through. It's

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amazing how they pick and choose what's legal and not legal,

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and they continue to do this. We live in a

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country right now that I don't recognize and I'm sure

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a lot of you listening don't recognize it either. We

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allow for protest in favor of terrorists on our college campuses,

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saying his freedom of speech. But when somebody on the

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conservative side wants to go speak at that college, they

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are usually told it was canceled because they're afraid of

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the protest. They are hypocrites. They will name call, they

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will go ahead and deliver a rhetoric that is mean.

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But yet they are the party of love and no hate.

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It's not true. And if that's what you want to

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vote for, if you want to vote for calmness and

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this feeling of euphoria of love that we all want

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to feel and don't know any substance behind it, then

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all you are is having an affair. You're infatuated, you're

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in lust, because that all fades. True love is honesty,

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Truthfulness has a plan, transparent. That's when you know your

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relationship will work for a long time. Harris wins. I

332
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promise you you're the same people that couldn't stand Biden

333
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after a year or two will not be able to

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stand Harris after six months. And those that vote for

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her better take responsibility for where this country goes, both

336
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domestically and foreign. There will be aggression by China, there

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will be aggression in the Middle East, there will be

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aggression with Russia. We cannot fight them all. We cannot

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fight them all. And it's amazing when the Russians and

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the middle and the Iranians start using social media to

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divide our country. The media doesn't say much about it,

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but boy, when they thought it was hurting Hillary or Biden,

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they just said it was that Trump was in bed

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with Putin and the Russians. But they won't say that

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about the Democrats. But then we find out Hillary was

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in bed with the Russians to come up with the dulcieer.

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If you just think you're gonna vote because you want calmness,

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you are getting closer to see a lot more chaos

349
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than you ever can believe. And that will hurt the markets,

350
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and that will hurt your portfolios. So you better understand

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how to mitigate your risk, and you better take accountability

352
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if you're the ones that voted them in and why

353
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you wanted to vote him in separate. For there's one

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time your social feelings versus your economic feelings and safety feelings.

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I know, don Well, you take Trump out of the

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picture and you said who you want to vote for

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for safety, border control, economy, it would be that guy.

358
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It would be name Trump. Somebody else They would vote

359
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for him because they don't believe in their hearts that

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Kamala Harris can do it. Kamala Sorry, Kamala Harris can

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do it. Okay, they don't because they never voted for

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her in sixteen, they never voted for her in twenty

363
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And I promise you into if she doesn't win this

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one in twenty twenty eight, when she tries to run

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again in the primary, she won't even get past the

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first primary again in Iowa.

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Just won't.

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She's the same vice president that had a twenty eight

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percent approval rating. But it's amazing when marketing takes place.

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It's amazing when you go ahead and you lie to

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the public. It's amazing when the media is eighty five

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percent against one candidate and for the other. And that

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is a crime, in my opinion, making one person always

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look bad and the other person try to look always great.

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Look deeper than the surface. This is don't just read

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the cover, don't just read the first chapter. Think about

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00:23:40.720 --> 00:23:45.680
her time in politics, think about it. Think about they've

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done nothing but the opposite of what she says she's

379
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going to do. And that's how you can start mapping

380
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out your plan for your success. On not having stress

381
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and living the lives that you want to. It all

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00:24:00.720 --> 00:24:03.960
starts with voting and then figuring out what to do

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on sides. And that's what we're going to do is

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make sure no matter who gets in, because it's out

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of our control after we vote, is to make sure

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00:24:12.319 --> 00:24:17.119
our clients can take away their stress and live their

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lives as happy as they can for the rest of

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their time. We'll be right back to Money Out of Show.

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Thank you so much for listening.

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Good morning, Welcome back to the Money Matters Show. This

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is Dave Sherwood. I'm here with Sebastian Borsini, Dean Greenberg,

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Dalan Greenberg talk glig Junior. Ready to rock and roll.

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Four houses, an exciting week, about to get to.

394
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Big big headlines this week. I always like to look

395
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at the headlines, you know, what was the big story

396
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of the week, And surprisingly we had someone try to

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assassinate Trump again and that wasn't the big headline. The

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big headline was the Federal Reserve and what the Federal

399
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Reserve is doing with interest rates, and.

400
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The Federal Reserve took the I mean for a while

401
00:24:57.640 --> 00:24:59.359
we knew that this week was going to be the

402
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biggest one we did. Yeah, this is the all important

403
00:25:02.240 --> 00:25:04.960
September meeting. We've been talking all year about this one.

404
00:25:04.720 --> 00:25:06.799
We have and and kind of predicting that they would

405
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probably drop it to a quarter of a point. It

406
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was going back and forth. One week it was a

407
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half a point and then it was a quarter of

408
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a point, and that was nothing depending upon what happened

409
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with the economy. And they really were very aggressive. They

410
00:25:18.680 --> 00:25:21.799
did a fifty basis point cut, first cut in four years,

411
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and it was aggressive. It was I don't know, sends

412
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a message.

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Do you think that that we could see inflation start

414
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to reaccelerate.

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To someone who's been in the business for a while,

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you see a move like that and you think, what

417
00:25:35.240 --> 00:25:38.559
do they see that we don't see? You know, they

418
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are they concerned about weakness in some sector of the

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economy that we're really not seeing right now. Though to me,

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I wanted to see a twenty five basis point cut.

421
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I want to see him, I want to see him

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begin the cutting process, not like panic.

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I'll just go straight into I just wanted the twenty

424
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five as well. I thought the market would react poorly

425
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to the fifty basis point off the jump and that's

426
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kind of what we saw. It did crade lower on Wednesday,

427
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and then on Thursday, wow, like everything reversed. They were

428
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okay with it, and it was off to the races

429
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to new all time highs.

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And they announced the fifty basis points cut, got a

431
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nice little rally in the market, and then they gave

432
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it all up. Closed Wednesday down. Thursday morning, we came

433
00:26:19.319 --> 00:26:21.759
in and man, it was off to the races and

434
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everyone had decided, well, it looks like we're not going

435
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to have any recession anytime soon. And you know, that

436
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was the souper de jure for whatever reason, and away

437
00:26:31.319 --> 00:26:33.119
it went new all time highs for all of the

438
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major indices.

439
00:26:35.160 --> 00:26:37.359
The thing that points well to this economy is the

440
00:26:37.400 --> 00:26:41.720
retail sales lastly was still positive, which means it's not

441
00:26:41.759 --> 00:26:46.480
going down. Home sales aren't crazy bad. They're doing fine.

442
00:26:46.920 --> 00:26:49.559
CPI is still above two percent. We have a good

443
00:26:49.599 --> 00:26:53.599
GDP report. Labor is not anything bad right now. So

444
00:26:53.839 --> 00:26:56.160
all in all, the economy looks fine if you take

445
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a picture right now. Obviously, with the economy, what the

446
00:26:58.759 --> 00:27:01.200
investors are trying to do is project where is this

447
00:27:01.279 --> 00:27:04.400
economy going to be six months from now? Right now

448
00:27:04.839 --> 00:27:08.200
sure that we have this election the next two months,

449
00:27:08.319 --> 00:27:10.079
no matter what president against, and they're not going to

450
00:27:10.119 --> 00:27:12.160
be able to dictate what happens in the stock market

451
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in the next six months. That's more about what's how

452
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this economy responds to this interest rate cut of fifty

453
00:27:18.279 --> 00:27:21.119
basis points, which we know isn't really going to impact

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the economy for at least three months.

455
00:27:22.960 --> 00:27:23.119
Right.

456
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It takes a while for this excess money that's easing

457
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to get actually felt.

458
00:27:27.559 --> 00:27:28.960
I was gonna say it takes a while to actually

459
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feel that. So to my question from earlier, do we

460
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see that inflation start to reaccelerate.

461
00:27:33.960 --> 00:27:35.960
Well, I think that's one of the concerns. But if

462
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they're dropping at fifty basis points, I'm feeling that they

463
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see something that we don't see, which is probably going

464
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to keep inflation. But that would be my biggest fear

465
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is that they cut them so aggressively we get right

466
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back on the inflation train again, and we don't want

467
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to be on that train.

468
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We do not.

469
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Now, Todd, you mentioned the one tenth of a percent

470
00:27:56.000 --> 00:27:59.359
increase in retail sales. We also had the lowest jobless

471
00:27:59.359 --> 00:28:00.440
claims in for months.

472
00:28:00.880 --> 00:28:02.880
It's so robust.

473
00:28:03.000 --> 00:28:06.279
Absolutely right. From a standpoint of snapshot of the economy

474
00:28:06.400 --> 00:28:09.920
looks pretty darn good. We try to predict things six

475
00:28:10.000 --> 00:28:12.559
months out, though, and I think Dean mentioned in his

476
00:28:12.680 --> 00:28:16.960
monologue that we are in what has historically been the

477
00:28:17.000 --> 00:28:19.599
worst three or four weeks of the year here starting

478
00:28:19.640 --> 00:28:23.359
next week and on end October does not mean the

479
00:28:23.400 --> 00:28:25.960
market's going to go down. I mean, September is historically

480
00:28:26.000 --> 00:28:27.920
the worst month of the year, and here we are

481
00:28:28.480 --> 00:28:30.599
three quarters of the way through, up one percent.

482
00:28:31.160 --> 00:28:34.119
So i'd call that one nice call last week on that.

483
00:28:34.279 --> 00:28:36.400
We'll see if it keeps going to fifty eight hundred.

484
00:28:36.480 --> 00:28:40.039
But yeah, historicals are just averages, and sometimes on the

485
00:28:40.119 --> 00:28:42.559
other side that coin is the opposite of what the

486
00:28:42.599 --> 00:28:43.160
average says.

487
00:28:43.240 --> 00:28:45.119
Well, you should have stuck with your fifty seven hundred

488
00:28:45.119 --> 00:28:46.200
because you definitely got that.

489
00:28:46.559 --> 00:28:49.039
Definitely got fifty seven. But yeah, I think we're going

490
00:28:49.799 --> 00:28:51.720
for now. We look like we pulled back even on

491
00:28:51.839 --> 00:28:57.559
Friday to what is now a support So it's it's

492
00:28:57.599 --> 00:29:00.599
gonna be it's going to take something that spooks the markets.

493
00:29:00.920 --> 00:29:04.920
Maybe it's the yen again, maybe it's the some president

494
00:29:04.960 --> 00:29:07.559
for sure winning. I don't know. It doesn't seem like

495
00:29:07.599 --> 00:29:10.480
there's much in the cards that could send this market

496
00:29:10.519 --> 00:29:12.039
lower at this time.

497
00:29:12.240 --> 00:29:15.240
And then you made a good point. A president, whomever

498
00:29:15.279 --> 00:29:18.079
it is, whomever wins the election, is not going to

499
00:29:18.160 --> 00:29:22.599
have much power without Congress. Hopefully Congress is divided. That

500
00:29:22.720 --> 00:29:24.400
seems to be what works best for us.

501
00:29:24.440 --> 00:29:25.960
We won't know that for a while.

502
00:29:26.160 --> 00:29:27.680
Gonna know. And I don't think the election is going

503
00:29:27.759 --> 00:29:30.400
to be over on November fifth, I really don't. It's

504
00:29:30.440 --> 00:29:31.720
going to go on and on and on.

505
00:29:31.799 --> 00:29:34.000
And I think we've seen that at least there's going

506
00:29:34.079 --> 00:29:37.599
to be some runoff elections that will dictate who wins

507
00:29:37.599 --> 00:29:39.599
the House, who wins the Senate. I mean we saw

508
00:29:39.680 --> 00:29:41.519
that last year with that not last year, but last

509
00:29:41.559 --> 00:29:44.000
cycle with twenty twenty, there was at least three or

510
00:29:44.039 --> 00:29:48.440
four Senate and House races that were sent to runoff.

511
00:29:48.640 --> 00:29:50.440
And you know that takes an extra month, an extra

512
00:29:50.480 --> 00:29:53.519
two months for them to actually figure out who won

513
00:29:53.559 --> 00:29:56.240
that that who won the spot. And that will change

514
00:29:56.400 --> 00:29:59.839
with how close we are with this pretty split Congress.

515
00:30:00.119 --> 00:30:01.920
Yeah, and it'll be the first first of the year

516
00:30:01.960 --> 00:30:05.000
before we know. And then you always say, look at

517
00:30:05.000 --> 00:30:08.720
the Apple computer, look at Microsoft, look at Johnson and

518
00:30:08.799 --> 00:30:12.799
Johnson what does any president specifically have to do with

519
00:30:12.960 --> 00:30:15.359
their business And the answer is nothing.

520
00:30:15.480 --> 00:30:17.000
Well, it's China triffs.

521
00:30:17.000 --> 00:30:18.640
I think that's the the economy.

522
00:30:18.720 --> 00:30:20.680
Yeah, I think that's the only case you can make

523
00:30:21.480 --> 00:30:25.559
is one one president is going to love to keep

524
00:30:25.680 --> 00:30:29.240
using their Department of Justice arm to fail at these uh,

525
00:30:29.519 --> 00:30:32.279
these lawsuits. You know, obviously we've seen a lot more

526
00:30:32.440 --> 00:30:36.079
of them since the Harris Biden regime versus the Trump

527
00:30:36.079 --> 00:30:39.039
regime in terms of the DOJ and ft C putting

528
00:30:39.039 --> 00:30:42.359
all these really annoying lawsuits that you know, hurt these

529
00:30:42.440 --> 00:30:45.640
quality companies because of monopoly. That's their whole thing that

530
00:30:45.680 --> 00:30:49.039
they go on corporations they control. They have monopolies on everything.

531
00:30:49.079 --> 00:30:51.119
We need to stop them. And Trump is more of

532
00:30:51.160 --> 00:30:54.599
the terriffs where he could impact EV vehicles if he's saying,

533
00:30:54.759 --> 00:30:57.640
you know, we can't take the Chinese or you know,

534
00:30:57.960 --> 00:31:01.880
you can't sell your phones to Chinese, that's potentially But yeah,

535
00:31:01.920 --> 00:31:05.119
you're right. Overall, there is not too much.

536
00:31:05.960 --> 00:31:07.680
No, there's not. And I think I think you make

537
00:31:07.720 --> 00:31:11.359
a good point to Trump has been has embraced success,

538
00:31:11.839 --> 00:31:15.119
business success, whereas the other side tends to be suspicious

539
00:31:15.119 --> 00:31:15.799
of it.

540
00:31:16.039 --> 00:31:17.759
Right, you guys got to be doing something wrong.

541
00:31:17.799 --> 00:31:19.359
You gotta be doing if you're if you're wearing a

542
00:31:19.359 --> 00:31:20.680
suit and making a lot of money, you got to

543
00:31:20.680 --> 00:31:21.359
be doing something wrong.

544
00:31:21.480 --> 00:31:23.680
Right, Right, Did you guys see that Trump wants to

545
00:31:23.680 --> 00:31:29.519
implement caps on interest rate interest rates on credit cards.

546
00:31:29.559 --> 00:31:32.000
I'm sorry, So that's kind of sort of a price

547
00:31:32.079 --> 00:31:34.359
control as well, right, I mean, that's the regulation.

548
00:31:34.559 --> 00:31:36.160
I think you have to be careful over the next

549
00:31:36.200 --> 00:31:38.160
six weeks or so that there are going to be

550
00:31:38.240 --> 00:31:40.960
so many promises, so many troubles, and so many I

551
00:31:41.000 --> 00:31:43.240
hope to do this. I'm going to do this, and

552
00:31:43.240 --> 00:31:45.880
and almost none of it is going to happen. Yeah,

553
00:31:46.559 --> 00:31:47.720
regardless of who gets.

554
00:31:47.839 --> 00:31:49.680
Either way, I'm against price controls.

555
00:31:49.920 --> 00:31:53.519
Yeah, if the market do that, what the market does.

556
00:31:53.599 --> 00:31:55.640
But there is a case that you can't just let

557
00:31:55.680 --> 00:31:59.160
banks charge whatever they twenty six percent that it gets

558
00:31:59.200 --> 00:32:00.680
it gets out of hand. But I mean, if we

559
00:32:00.759 --> 00:32:02.519
looked at what the market did this week, we had

560
00:32:02.559 --> 00:32:05.279
two indices that did reach new actually three indassies that

561
00:32:05.319 --> 00:32:07.920
reached new all time highs, the dal Jones, the S

562
00:32:07.960 --> 00:32:10.240
and P five hundred, and the equated S and P

563
00:32:10.359 --> 00:32:15.319
five all reaching fifty two week highs Intro week, very

564
00:32:15.359 --> 00:32:18.160
strong move. And we've been talking about this for a while,

565
00:32:18.599 --> 00:32:21.200
how the equate it has had a pretty good run

566
00:32:21.279 --> 00:32:24.319
up these last couple of months. The value stocks as well,

567
00:32:24.680 --> 00:32:25.160
really have.

568
00:32:25.359 --> 00:32:27.720
They've benefited on great, haven't they? Which we thought would

569
00:32:27.759 --> 00:32:30.720
happen but eventually were literally we were little early. We

570
00:32:30.720 --> 00:32:33.079
were early, but yeah, absolutely, we thought the value would

571
00:32:33.119 --> 00:32:35.359
start to catch up with growth. That's exactly what's happening.

572
00:32:35.440 --> 00:32:37.880
It's almost impressive. Some of those value ETFs are out

573
00:32:38.000 --> 00:32:40.480
pacing the S and P five hundred for the year, Yeah,

574
00:32:40.480 --> 00:32:42.640
which is very impressive. And they've got nice dividends and

575
00:32:42.640 --> 00:32:44.079
it's pretty cool. You got something.

576
00:32:44.119 --> 00:32:46.039
What else is out pacing the S and P five hundred?

577
00:32:46.160 --> 00:32:49.599
A lot of things, you know. Ahead, what's the big.

578
00:32:49.440 --> 00:32:50.160
One that I'm thinking of?

579
00:32:50.319 --> 00:32:52.240
Big gold? Cold?

580
00:32:52.519 --> 00:32:54.119
Yeah, cold, go on, yeah.

581
00:32:53.920 --> 00:32:57.119
Goodness, go up one hundred bucks, let's weak up another

582
00:32:57.480 --> 00:33:01.839
thirty nine bucks this week, record high record the year

583
00:33:01.880 --> 00:33:03.319
to date. Yeah, it's unbelievable.

584
00:33:03.400 --> 00:33:05.720
Well, we were talking about it earlier on Friday. It's

585
00:33:05.799 --> 00:33:08.400
kind of funny because we don't see those commercials that

586
00:33:08.440 --> 00:33:10.720
we used to see when you know, when they're selling fear,

587
00:33:11.039 --> 00:33:13.240
you need to buy gold, you need to buy gold.

588
00:33:13.319 --> 00:33:16.039
You know, it is interesting that the number of commercials

589
00:33:16.079 --> 00:33:18.599
to buy gold seem to be pretty low.

590
00:33:18.799 --> 00:33:19.680
I haven't seen any.

591
00:33:19.680 --> 00:33:22.200
And yet here here it goes, and all those gold

592
00:33:22.200 --> 00:33:23.839
bucks just said, you know it's gonna go, It's gonna

593
00:33:23.880 --> 00:33:26.680
be all right, And I'm wrong, you know, so I

594
00:33:26.720 --> 00:33:30.519
apologize to anybody I made fun of. You know, it's

595
00:33:30.559 --> 00:33:34.880
been unbelievable. Yeah, and every week it's one hundred and

596
00:33:34.920 --> 00:33:38.640
fifty bucks every week, and it's not doing what it's

597
00:33:38.680 --> 00:33:41.960
supposed to do, is not done what it has historically done.

598
00:33:42.400 --> 00:33:44.759
It's just in a world all its own right now.

599
00:33:45.359 --> 00:33:48.720
And when the Fed announced their interest rate cut, God,

600
00:33:49.119 --> 00:33:50.599
what happened to interest rates?

601
00:33:51.119 --> 00:33:55.599
They went up? I love that because with someone who

602
00:33:55.640 --> 00:33:57.559
doesn't know how things work and they saw that, they

603
00:33:57.599 --> 00:33:59.039
would be like, what what happened?

604
00:33:59.079 --> 00:33:59.599
I don't get it.

605
00:33:59.720 --> 00:34:03.160
Yeah, Wednesday, Thursday, Friday, interest rates were up all three days.

606
00:34:03.240 --> 00:34:07.319
And why is that? Well, obviously somebody was predicting the

607
00:34:07.400 --> 00:34:11.599
cut was going to be bigger than fifty basis points right, It's.

608
00:34:11.440 --> 00:34:14.400
Hard to believe, but that's again, this is how the

609
00:34:14.440 --> 00:34:19.559
markets work. They're pricing in future expectations. So yes, they

610
00:34:19.559 --> 00:34:22.440
were pricing in probably something like sixty basis points, which

611
00:34:22.440 --> 00:34:23.639
you can't get, but you.

612
00:34:23.639 --> 00:34:27.159
Get the idea. Probably on average sixty versus Yeah.

613
00:34:27.480 --> 00:34:31.559
Obviously half fifty exactly because the interest rates row was Wednesday,

614
00:34:31.599 --> 00:34:36.599
Thursday and Friday after the biggest cut in probably a decade.

615
00:34:36.599 --> 00:34:39.039
I don't remember the last day. Did fifty basis point? Yeah,

616
00:34:39.039 --> 00:34:40.079
probably twenty twenty.

617
00:34:40.159 --> 00:34:42.679
And you know, we talked to Dave Hand with all

618
00:34:42.719 --> 00:34:44.360
American lending all the time, and they had a lot

619
00:34:44.440 --> 00:34:47.639
of clients say, hey, we're not locking in until these

620
00:34:47.760 --> 00:34:50.480
the FED cuts their race. Right, That's not how that works.

621
00:34:51.239 --> 00:34:54.079
It's already priced in again, it's already baked into the pie.

622
00:34:54.159 --> 00:34:56.480
But mortgage rates did fall to the lowest level since

623
00:34:56.480 --> 00:34:59.360
September of twenty twenty two, now at six point zero

624
00:34:59.480 --> 00:34:59.920
nine percent.

625
00:35:00.000 --> 00:35:02.079
The volu race did go down this week.

626
00:35:02.159 --> 00:35:04.639
It went down point one ten bases points. It had

627
00:35:04.639 --> 00:35:06.199
nothing to do with the Fed. It's because the tenure

628
00:35:06.239 --> 00:35:08.559
went down the week prior. You know, it always responds

629
00:35:08.559 --> 00:35:10.920
to what the tenure does a little bit. It always

630
00:35:10.960 --> 00:35:13.400
lags the tenure. Yeah, okay, it's kind of what I

631
00:35:13.400 --> 00:35:14.079
look at, and.

632
00:35:14.000 --> 00:35:16.320
We've got a normal normalizing yield curve.

633
00:35:16.400 --> 00:35:18.400
Normalizing yield curve and why.

634
00:35:18.239 --> 00:35:23.079
Is that important because you should get the higher long

635
00:35:23.159 --> 00:35:27.679
term rates means optimism for the future. If your long

636
00:35:27.760 --> 00:35:29.679
term rates are lower than your short term race, that

637
00:35:29.760 --> 00:35:31.440
means you think the future is going to be kind

638
00:35:31.440 --> 00:35:34.800
of dicey. So a normal yield curve is is a

639
00:35:34.920 --> 00:35:37.559
very positive thing. And we are back there for the

640
00:35:37.599 --> 00:35:40.599
second week in the last couple of years, and we'll

641
00:35:40.639 --> 00:35:42.679
be back right after this break. This is the Money

642
00:35:42.679 --> 00:35:44.679
Matter Show. Thanks for joining us.

643
00:35:45.760 --> 00:35:47.800
Welcome back to the Money Matter Show. My name is

644
00:35:47.840 --> 00:35:51.840
Todd Glick. I'm here with Sebastian Borscini and David Sherwood. Yeah,

645
00:35:51.840 --> 00:35:53.920
we had a fun week this week with the Fed

646
00:35:54.960 --> 00:35:58.000
surprising people with the fifty bases point rate cut. They

647
00:35:58.039 --> 00:36:00.719
released their dot plots and it show that we are

648
00:36:00.719 --> 00:36:03.920
expecting at least two more twenty five basis point cuts

649
00:36:04.000 --> 00:36:06.280
by the end of twenty twenty four, and they have

650
00:36:06.360 --> 00:36:09.320
about four rate cuts of twenty five priced in by

651
00:36:09.320 --> 00:36:12.000
the end of twenty twenty five. That would put us

652
00:36:12.360 --> 00:36:15.360
at around I think it's like three point five percent

653
00:36:15.639 --> 00:36:18.760
if I'm thinking right. But what people really care about

654
00:36:18.800 --> 00:36:21.079
is the mortgage rates. That would put you at around

655
00:36:21.159 --> 00:36:21.920
low fives.

656
00:36:22.119 --> 00:36:23.480
Yeah, I think it would I think it would. That

657
00:36:23.480 --> 00:36:25.400
would that would ignite the housing market a little bit,

658
00:36:25.440 --> 00:36:28.039
which needs a little igniting. Right now, we're going to

659
00:36:28.119 --> 00:36:31.239
do the update there. But before we do that, God,

660
00:36:31.320 --> 00:36:36.599
you used the term dot plot dot plot? What's that means?

661
00:36:38.119 --> 00:36:40.360
You know, let's a short Tell me tell people what

662
00:36:40.440 --> 00:36:40.840
that is.

663
00:36:41.079 --> 00:36:42.480
Oh are you saying it's an acronym.

664
00:36:42.599 --> 00:36:43.760
You've talked about dot plot?

665
00:36:43.840 --> 00:36:44.039
Oh?

666
00:36:44.159 --> 00:36:45.400
What is plot? Well?

667
00:36:45.480 --> 00:36:47.960
Yeah, dot plot is so all ither think eleven I

668
00:36:47.960 --> 00:36:49.400
think it's eleven members of the Fed.

669
00:36:49.760 --> 00:36:49.880
Uh.

670
00:36:49.920 --> 00:36:52.480
They get together and they all put their expectations of

671
00:36:52.519 --> 00:36:54.519
where they think the interest rates are going to be,

672
00:36:54.760 --> 00:36:57.079
or the FED funds interest rate is going to be

673
00:36:57.559 --> 00:37:01.239
current year, one year out, two years out, three years out,

674
00:37:01.239 --> 00:37:04.599
and then a long term projection. So they all put

675
00:37:04.599 --> 00:37:07.239
their expectations in and then they average them out and

676
00:37:07.280 --> 00:37:10.280
then they show you what the average was for their projections.

677
00:37:10.320 --> 00:37:14.920
So it's the Fed governor's expectations for where rates are

678
00:37:14.920 --> 00:37:15.280
going to be.

679
00:37:15.360 --> 00:37:17.039
Now we use the term as if everyone knows what

680
00:37:17.079 --> 00:37:19.159
it means, but I think ninety percent of people in

681
00:37:19.199 --> 00:37:21.039
the world have never heard the term dot plot.

682
00:37:21.159 --> 00:37:23.239
That's very fair. Yeah, good point.

683
00:37:23.360 --> 00:37:24.800
Let's do the disclaimer.

684
00:37:25.079 --> 00:37:27.079
Buick the show is sponsored by the Green Briok Financial

685
00:37:27.079 --> 00:37:29.960
Group and you can listen on seven ninety KNSD or iHeartRadio.

686
00:37:30.320 --> 00:37:33.719
Show discusses different investment products and strategies. Every product and

687
00:37:33.719 --> 00:37:36.360
strategy have some type of inherent risks, and we strongly

688
00:37:36.760 --> 00:37:39.480
encourage our listeners to properly understand the risks to determine

689
00:37:39.480 --> 00:37:42.320
whether to buy, sell, or hold. The show has been

690
00:37:42.320 --> 00:37:44.320
on air for over thirty years. The Green Brig Financial

691
00:37:44.320 --> 00:37:46.320
Group is registered with the SEC and a member of

692
00:37:46.360 --> 00:37:49.159
FINERA and SIPIK. Visit our website at green Brig Financial

693
00:37:49.199 --> 00:37:50.519
dot com for some more information.

694
00:37:51.320 --> 00:37:53.960
You know, this is a really fun job most of

695
00:37:54.039 --> 00:37:56.760
the time, and it's very rewarding awesome most of the time.

696
00:37:57.239 --> 00:38:00.360
And you know, people will often ask me my white

697
00:38:00.360 --> 00:38:02.719
hair when you're going to retire, you know, And I'm thinking,

698
00:38:02.760 --> 00:38:05.800
I'm doing something I love and I'm helping people. Why

699
00:38:05.840 --> 00:38:08.039
would I stop that? You know. It's kind of like

700
00:38:08.239 --> 00:38:09.800
when are you going to stop loving your wife? You know?

701
00:38:10.079 --> 00:38:12.440
And probably never, you know, and you're going to stop

702
00:38:12.480 --> 00:38:13.039
breathing air?

703
00:38:13.239 --> 00:38:15.800
Yeah, I mean it really, it really is. And I

704
00:38:15.840 --> 00:38:18.599
had some examples this week of things that happened that

705
00:38:19.400 --> 00:38:22.280
make this job the way it is. We had a

706
00:38:22.320 --> 00:38:24.920
gentleman die. He was in his nineties and his two

707
00:38:24.960 --> 00:38:28.840
sons are beneficiaries of his estate, and he had assets

708
00:38:28.840 --> 00:38:32.159
in a number of different places, and they came and

709
00:38:32.239 --> 00:38:34.639
talked to us earlier this week and we started the process.

710
00:38:34.960 --> 00:38:38.039
I got this email Friday morning. Thanks for your help.

711
00:38:38.480 --> 00:38:41.159
I have to say that your service has really stood

712
00:38:41.159 --> 00:38:44.440
out compared to other firms and organizations I've dealt with

713
00:38:44.480 --> 00:38:46.920
this week, and he was dealing with a number of

714
00:38:46.960 --> 00:38:49.239
them because dad had assets in a number of different places.

715
00:38:49.400 --> 00:38:53.239
We've often said that there are a lot of places,

716
00:38:53.280 --> 00:38:56.760
a lot of businesses doing what we do, so we

717
00:38:57.039 --> 00:39:00.519
like to excel at service. We want you to when

718
00:39:00.559 --> 00:39:02.800
the phone rings, you're not going to get a computer

719
00:39:03.280 --> 00:39:06.559
saying plus one, press two, puss three. You're not going

720
00:39:06.639 --> 00:39:08.880
to be in hold for fifteen to twenty minutes. You're

721
00:39:08.880 --> 00:39:10.760
going to talk to you a human being that knows

722
00:39:10.800 --> 00:39:12.719
what's going on in your account because we all work

723
00:39:12.760 --> 00:39:15.119
together and it's not going to take you more than

724
00:39:15.159 --> 00:39:18.480
a couple of seconds to get that information. The second

725
00:39:18.480 --> 00:39:22.960
thing that happened is Todd you had a prospect come

726
00:39:23.039 --> 00:39:26.679
in do a financial plan, and then she came back

727
00:39:26.719 --> 00:39:29.480
for the second appointment, and what did she say.

728
00:39:29.360 --> 00:39:32.280
To you, Well, she was very impressed by the nature

729
00:39:32.360 --> 00:39:35.199
of how we delivered the presentation. And most of the time,

730
00:39:35.239 --> 00:39:38.639
she said, when she would go into financial advising offices

731
00:39:38.719 --> 00:39:42.760
or planning offices, it feels very pressured oriented. It's always

732
00:39:42.840 --> 00:39:45.559
salesy and you feel like you have to make a

733
00:39:45.599 --> 00:39:48.239
decision that day type of thing. And she said that

734
00:39:48.320 --> 00:39:50.360
I wanted to give you kudos that I did not

735
00:39:50.440 --> 00:39:53.679
feel pressured at one bit during the planning meeting, and

736
00:39:53.960 --> 00:39:56.559
I was kind of more worried about the proposal meeting

737
00:39:56.599 --> 00:39:59.199
where we actually did give you the suggestion comes to

738
00:39:59.199 --> 00:40:01.960
your issues, and there was nothing like that. She said,

739
00:40:01.960 --> 00:40:06.559
it's very conversational. She appreciated that, and she wanted to

740
00:40:06.559 --> 00:40:09.679
make sure that we were aware. And she's already telling

741
00:40:09.679 --> 00:40:12.079
people that they have to come in. And it's funny

742
00:40:12.119 --> 00:40:14.400
because she was kind of helping us because she was

743
00:40:14.440 --> 00:40:17.599
saying that a lot of people they're saying, well, what

744
00:40:17.639 --> 00:40:19.679
if I'm not good or as good as I think

745
00:40:19.679 --> 00:40:21.199
I am, And she's like, well, at least you know

746
00:40:21.599 --> 00:40:23.480
where you are if you're not.

747
00:40:23.840 --> 00:40:26.079
Yeah, I mean, if you're if you're going to Seattle

748
00:40:26.599 --> 00:40:29.199
and you're you're headed east, you'd like somebody to tell

749
00:40:29.199 --> 00:40:31.920
you before Arkansas, I don't know.

750
00:40:32.159 --> 00:40:34.920
Or if you're headed to Iowa and you know there's

751
00:40:34.679 --> 00:40:37.760
this tornado there, you probably would like to know before

752
00:40:37.800 --> 00:40:38.400
you get there.

753
00:40:38.760 --> 00:40:40.880
So that's two examples. In the third one, these are

754
00:40:40.920 --> 00:40:43.000
all this week, which is and I could give you

755
00:40:43.159 --> 00:40:44.960
a couple of two or three every week, which is cool.

756
00:40:45.239 --> 00:40:51.639
The third one, longtime client, good friend lover had always

757
00:40:51.920 --> 00:40:56.000
listened to the radio show and wondered about this financial

758
00:40:56.000 --> 00:40:58.679
plan thing and wondered where she was. She's very sharp,

759
00:40:58.800 --> 00:41:00.960
so she she knows where she is kind of, but

760
00:41:01.000 --> 00:41:02.840
she really wanted to see it in black and white.

761
00:41:02.880 --> 00:41:05.599
So she came in did the financial plan on Friday,

762
00:41:06.039 --> 00:41:09.320
and as she was walking out the door, gave her

763
00:41:09.320 --> 00:41:11.639
a hug and she actually had tears in her eyes.

764
00:41:12.119 --> 00:41:15.880
She was so relieved with the information that she got

765
00:41:15.920 --> 00:41:18.239
and that she's gonna be okay. Yeah. So, I mean

766
00:41:18.639 --> 00:41:19.400
that's what we do here.

767
00:41:19.559 --> 00:41:21.559
And that's again with that planning meeting, it was all

768
00:41:21.599 --> 00:41:25.239
about proving that she could spend more than what she

769
00:41:25.360 --> 00:41:27.960
thought she could. And that's so many clients in this

770
00:41:28.320 --> 00:41:30.519
day and age where they have done really well for

771
00:41:30.559 --> 00:41:33.000
themselves It's kind of funny. You see two different types

772
00:41:33.000 --> 00:41:36.360
of clients, the discipline ones who kind of knew what

773
00:41:36.400 --> 00:41:38.280
they needed to do, not maybe as soon as they

774
00:41:38.480 --> 00:41:41.960
should have or but they have amassed a good portfolio

775
00:41:42.000 --> 00:41:45.440
for themselves. So they have this habit of saving, and

776
00:41:45.480 --> 00:41:48.079
then they get to retirement the deaccumulation phase, and they

777
00:41:48.119 --> 00:41:51.880
just can't spend what they've saved, right, And so they

778
00:41:51.920 --> 00:41:53.800
have the idea that they don't want to leave a

779
00:41:53.800 --> 00:41:55.360
whole bunch of money at the end of the plan.

780
00:41:55.639 --> 00:41:57.519
They worked hard for it. They want to make sure

781
00:41:57.519 --> 00:41:59.760
they're the ones benefiting from it. But then I'll show

782
00:41:59.800 --> 00:42:02.199
them for eight million dollars at the end of the plan,

783
00:42:02.559 --> 00:42:04.159
and I'm like, well, who's this going to? Well, I

784
00:42:04.199 --> 00:42:05.800
don't want it to be that high. Well, then you

785
00:42:05.880 --> 00:42:08.400
got to spend more, right, There's only two ways to

786
00:42:08.440 --> 00:42:11.639
make the number at the end lower, and that means

787
00:42:11.719 --> 00:42:13.800
you have to spend more. And so we have to

788
00:42:13.840 --> 00:42:17.119
have a lot of conversations on how to spend more,

789
00:42:17.159 --> 00:42:20.360
how to feel comfortable, and that planning software is the

790
00:42:20.400 --> 00:42:23.199
only way I've seen where people can actually believe they

791
00:42:23.199 --> 00:42:24.159
can do it well.

792
00:42:24.199 --> 00:42:27.360
And you and like with the case on Friday, there

793
00:42:27.400 --> 00:42:30.159
were some what about this? What if I were to

794
00:42:30.400 --> 00:42:32.639
buy a car, What if I wanted to buy a

795
00:42:32.679 --> 00:42:36.239
lake home? How would that impact my plan? And you

796
00:42:36.239 --> 00:42:38.599
can do that? And I say, we walk out with

797
00:42:38.639 --> 00:42:39.400
a great peace of.

798
00:42:39.360 --> 00:42:41.559
Mind, just the dynamic nature of the plan and being

799
00:42:41.559 --> 00:42:44.400
able to actually put it down on paper and visualize Okay,

800
00:42:44.519 --> 00:42:46.679
yes I can retire. We had a clients that we

801
00:42:46.719 --> 00:42:49.800
just signed a couple of weeks ago. She's an employee

802
00:42:49.840 --> 00:42:52.440
of IBM, and she really didn't like going to work

803
00:42:52.480 --> 00:42:54.639
every single day anymore. She didn't like her boss, she

804
00:42:54.639 --> 00:42:57.480
didn't want to be there. But she still was sort

805
00:42:57.480 --> 00:42:59.639
of young. I believe she's sixty two sixty three years old,

806
00:42:59.639 --> 00:43:02.960
and work a little bit longer, well, work a little

807
00:43:03.000 --> 00:43:05.039
bit longer, just because she had to worry that she

808
00:43:05.280 --> 00:43:08.079
didn't have enough her nest egg wasn't sufficient to make

809
00:43:08.119 --> 00:43:08.840
it last.

810
00:43:09.159 --> 00:43:09.719
Well it was.

811
00:43:10.000 --> 00:43:12.000
She was able to come in visualize it, and she

812
00:43:12.119 --> 00:43:13.920
told me that next time that she was able to

813
00:43:13.920 --> 00:43:16.239
go into work, she you know, she had something in

814
00:43:16.239 --> 00:43:17.360
her back pocket for her boss.

815
00:43:18.519 --> 00:43:20.519
Right. That's the same thing Todd ran into with the

816
00:43:20.559 --> 00:43:24.599
plan he did this past week where the guy was

817
00:43:24.679 --> 00:43:26.639
curious to one it would be okay for her to retire,

818
00:43:26.679 --> 00:43:28.440
And the answer was how about today? Co Mom, Yeah,

819
00:43:28.440 --> 00:43:30.280
how about tomorrow? How about you call it tomorrow and

820
00:43:30.320 --> 00:43:33.559
say two weeks? So she and she's not going to

821
00:43:33.639 --> 00:43:37.280
She enjoys what she's doing. But I think Dean mentioned

822
00:43:37.920 --> 00:43:42.480
the market all time highs. One of the things I've

823
00:43:42.559 --> 00:43:44.519
learned over the years is if you have a stock

824
00:43:44.719 --> 00:43:47.960
right now that's just not working, what's going to make

825
00:43:47.960 --> 00:43:51.880
it work? What in heaven's sake can you even imagine

826
00:43:52.199 --> 00:43:54.880
with a market like this is going to make your

827
00:43:54.920 --> 00:43:59.360
stock suddenly work when it's not working now. And unless

828
00:43:59.360 --> 00:44:03.159
you have some ada list, some specific event, jump it.

829
00:44:04.639 --> 00:44:07.480
Change horses, you're not married to it. Nobody's going to

830
00:44:07.519 --> 00:44:11.000
know except you. It's okay to change horses, right, we

831
00:44:11.039 --> 00:44:14.719
can do that. BMO came out this past week and

832
00:44:15.119 --> 00:44:18.920
became the highest on the street, predicting a sixty one

833
00:44:19.000 --> 00:44:22.800
hundred year end target for the S and P five hundred.

834
00:44:23.079 --> 00:44:25.480
Some of that is because the analysts believes it. You

835
00:44:25.559 --> 00:44:28.039
also have to understand that some of that's getting headlines.

836
00:44:28.800 --> 00:44:33.760
BMO gotten the headlines because of that bold prediction. So

837
00:44:33.800 --> 00:44:35.559
a little free advertising there.

838
00:44:35.880 --> 00:44:37.639
But overall, if you look at the year to day

839
00:44:37.679 --> 00:44:41.000
performances on the major industries. You got dal Jones up

840
00:44:41.039 --> 00:44:44.400
eleven and a half percent SMP now equaling the a

841
00:44:44.480 --> 00:44:46.320
Nasdak at nineteen points.

842
00:44:46.000 --> 00:44:46.800
Exactly the same.

843
00:44:46.880 --> 00:44:47.519
Isn't that crazy?

844
00:44:47.599 --> 00:44:47.880
Crazy?

845
00:44:48.079 --> 00:44:50.679
The Russell two thousand is lagging out of all the

846
00:44:50.719 --> 00:44:53.039
indices we follow because of the equal weight, it's actually

847
00:44:53.079 --> 00:44:58.079
doing better. Kind of unique. Not quite sure why the

848
00:44:58.159 --> 00:45:01.000
Russell two thousand is lagging that much. Could be because

849
00:45:01.039 --> 00:45:04.280
the quality of the companies inside of it. But in theory,

850
00:45:04.360 --> 00:45:06.000
when you have a big rate cut, they should have

851
00:45:06.039 --> 00:45:08.679
been the ones doing the best, and they did. They

852
00:45:08.679 --> 00:45:10.800
were the highest performing on the week at two point,

853
00:45:11.920 --> 00:45:13.719
but they are still lagging on the year.

854
00:45:13.880 --> 00:45:17.360
They were a reminder that when you see intertrace coming

855
00:45:17.400 --> 00:45:20.199
down the field, are at all concerned about a weakening economy,

856
00:45:20.440 --> 00:45:23.480
the default rate in that industy is going to be higher.

857
00:45:24.000 --> 00:45:26.119
That's why it's lagging. It's concerned about it.

858
00:45:26.239 --> 00:45:28.280
Then you have you offset that with the borrowing costs,

859
00:45:28.800 --> 00:45:31.559
so there's there's two different insights about.

860
00:45:31.880 --> 00:45:33.800
Some of those companies going out of business. That's that's

861
00:45:33.800 --> 00:45:37.119
why why it's lagging, wagging behind a little bit. Commodity,

862
00:45:37.239 --> 00:45:39.280
we had a great week for gold As we said earlier,

863
00:45:39.519 --> 00:45:42.039
Oil up three and a half bucks back to seventy

864
00:45:42.079 --> 00:45:42.920
one twenty five.

865
00:45:43.960 --> 00:45:48.679
I'm talking about commodities. Bitcoin went up to sixty three thousand.

866
00:45:49.760 --> 00:45:52.320
It's had actually a pretty good run up ever since

867
00:45:52.320 --> 00:45:55.880
it bottomed out at around fifty three a week ago.

868
00:45:56.440 --> 00:45:58.639
I swear to god, that's a that's a tech stock.

869
00:45:58.920 --> 00:46:03.239
It's it acts just exactly like a tech stock. It

870
00:46:03.280 --> 00:46:03.760
really does.

871
00:46:03.840 --> 00:46:07.440
It's like Coco But no, yeah, I mean it's it's

872
00:46:07.440 --> 00:46:10.480
it's more oriented to like a risk of a beta

873
00:46:10.639 --> 00:46:11.760
of a tech stock, for sure.

874
00:46:11.880 --> 00:46:14.719
Yeah, I don't. I don't see bitcoin moving inversely to

875
00:46:14.840 --> 00:46:16.159
the market at all.

876
00:46:16.840 --> 00:46:17.239
It does.

877
00:46:17.280 --> 00:46:19.360
If the market's going to be down, big, Bitcoin's going

878
00:46:19.400 --> 00:46:21.480
to be down big. If the market's not big, Bitcoin's going.

879
00:46:21.480 --> 00:46:22.920
To be I don't know if that always plays.

880
00:46:23.039 --> 00:46:24.760
I don't know that it does. But I've noticed in

881
00:46:24.760 --> 00:46:28.880
the last say sixty days, it's been almost step first step.

882
00:46:29.360 --> 00:46:31.480
I mean, it is a it is a risk asset

883
00:46:31.519 --> 00:46:34.360
at the end of the day. And but I mean

884
00:46:34.800 --> 00:46:36.719
you can make the case that, yeah, it's just probably

885
00:46:36.760 --> 00:46:41.639
seventy five percent correlated, eighty percent correlated in some aspects.

886
00:46:41.639 --> 00:46:43.800
I don't think you're gonna see Bitcoin soaring with the

887
00:46:43.800 --> 00:46:45.960
market selling off, I guess is my point?

888
00:46:46.519 --> 00:46:49.679
Well, you never know until you see it, and gold

889
00:46:49.719 --> 00:46:51.639
could be soaring with the markets selling off.

890
00:46:51.880 --> 00:46:54.920
I don't know. Next week big the big news next

891
00:46:54.920 --> 00:46:58.360
week will be Friday. With the PCE almost always around month,

892
00:46:58.400 --> 00:47:01.760
and remember the month ends on a Monday, this time

893
00:47:02.320 --> 00:47:04.760
a week from Monday. So we've got a full week

894
00:47:04.800 --> 00:47:07.199
of trading plus one more day for.

895
00:47:07.599 --> 00:47:10.199
Only six more trading days for the rest of September yep.

896
00:47:10.239 --> 00:47:12.239
And after this the end of the third quarter.

897
00:47:12.719 --> 00:47:16.239
Seventy five percne on to twenty twenty five, got the

898
00:47:16.280 --> 00:47:19.440
last got the last fourth quarter to finish the year.

899
00:47:19.280 --> 00:47:23.000
Strong, absolutely amazing, absolutely amazing. Well, we will be back

900
00:47:23.119 --> 00:47:25.360
after this break. This is the Money Matter Show, and

901
00:47:25.400 --> 00:47:27.559
again thanks for joining us on this Sunday morning.

902
00:47:28.679 --> 00:47:30.400
Welcome back to the Money Matter Show. My name is

903
00:47:30.400 --> 00:47:32.920
Sebastian Border. Seeing him here with David Sherwood, Todd Glick

904
00:47:33.000 --> 00:47:36.400
Junior and Dylan and Dean Greenberg's they're actually headed out

905
00:47:36.440 --> 00:47:40.119
to a football game now, well are you?

906
00:47:40.280 --> 00:47:43.280
There's three of you. Dean has always worked with kids

907
00:47:43.480 --> 00:47:47.360
his whole life. He's he's loved coaching different sports, very

908
00:47:47.400 --> 00:47:50.559
involved with kids, and his son Dylan has followed in

909
00:47:50.599 --> 00:47:54.920
his footsteps. And they are coaches of the Tucson High

910
00:47:55.000 --> 00:47:59.199
Badgers right now, and they brought you along for the ride. Sebastian,

911
00:47:59.280 --> 00:48:03.960
you're one of the coaches of the freshman lan.

912
00:48:03.679 --> 00:48:06.960
Badgers right now. It's like a freshman JV type of combination.

913
00:48:07.079 --> 00:48:08.119
But it's been a lot of fun.

914
00:48:08.320 --> 00:48:11.800
Coach of the Twoson High Badgers, of the family, friend

915
00:48:11.880 --> 00:48:14.880
of the Greenbergs, and friend of our farm. And so

916
00:48:14.920 --> 00:48:16.960
it's fun to watch them. But it's a lot of

917
00:48:16.960 --> 00:48:19.159
work that they put in. A tremendous amount of work,

918
00:48:19.199 --> 00:48:21.239
do you know, uh, Dean and Delle and come in

919
00:48:21.320 --> 00:48:24.840
and early in the morning and leave the late afternoon

920
00:48:24.880 --> 00:48:26.800
and head to Tucson High and get home, you know,

921
00:48:26.840 --> 00:48:30.159
well after dark and eight nine o'clock at night every

922
00:48:30.239 --> 00:48:33.039
night tomorrow and do it for the whole football season.

923
00:48:33.079 --> 00:48:35.599
So and they enjoy doing it. They love the sport,

924
00:48:35.679 --> 00:48:40.360
they love coaching the kids. But that's a real sacrifice. Apple.

925
00:48:40.519 --> 00:48:42.199
Hey, wait, before we do that, let me give a

926
00:48:42.280 --> 00:48:43.000
rundown of the number.

927
00:48:43.159 --> 00:48:45.519
I thought you were going to give the disclaimer again, No,

928
00:48:45.800 --> 00:48:47.599
unless you want to stop you from doing that.

929
00:48:47.960 --> 00:48:50.039
Dow Jones was up one point six percent on the week,

930
00:48:50.039 --> 00:48:51.599
The S and P five hundred was up one point

931
00:48:51.599 --> 00:48:54.119
four the NASAQ was up one point five, Russell two

932
00:48:54.119 --> 00:48:57.039
thousand up two point two percent, and the RSP equal

933
00:48:57.039 --> 00:48:58.639
weight to S and P five hundred was up one

934
00:48:58.639 --> 00:48:59.519
point four percent.

935
00:49:00.199 --> 00:49:03.079
Before the year of the major indices, the S and

936
00:49:03.159 --> 00:49:05.360
P and the NASDAC, as Todd just mentioned, are tied

937
00:49:05.360 --> 00:49:08.519
it up nineteen point six and the laggard is the

938
00:49:08.599 --> 00:49:11.360
Russell two thousand, which is a small company stocks again

939
00:49:11.480 --> 00:49:13.840
concerned about default if things slow down a little bit.

940
00:49:13.960 --> 00:49:15.880
You know, it's funny if you look at a NASDAK chart,

941
00:49:15.880 --> 00:49:17.840
they're not even it's it's still. I mean, you can

942
00:49:17.840 --> 00:49:20.159
just look at the four percent still off the high

943
00:49:20.239 --> 00:49:21.039
off the highest.

944
00:49:20.800 --> 00:49:24.239
Right, amazing, it's still four percent off the highways. The

945
00:49:24.320 --> 00:49:26.199
S and P, the Dow, and the equal weight they're

946
00:49:26.239 --> 00:49:28.960
all right at their high, yep, at their high. But yeah,

947
00:49:29.199 --> 00:49:31.480
it's still. I looked at that the other day was

948
00:49:31.760 --> 00:49:34.559
I think Thursday, Uh, when the Dow and the S

949
00:49:34.599 --> 00:49:36.639
and P and the equal weight it all hit all

950
00:49:36.679 --> 00:49:39.000
time highs, and I thought, well, the Nazza going to

951
00:49:39.079 --> 00:49:40.199
hit an all time high. I looked it was a

952
00:49:40.239 --> 00:49:44.760
thousand points, not even close, which tells you how big

953
00:49:44.800 --> 00:49:48.280
of a spike that was earlier. Yeah, the video in

954
00:49:48.320 --> 00:49:52.599
the video, you're exactly right in video. Speaking of tech.

955
00:49:52.639 --> 00:49:56.320
Apple down three percent off the open on Monday, following

956
00:49:56.400 --> 00:50:01.440
analyst reports that early shipping data may may be signaling

957
00:50:01.559 --> 00:50:05.679
software softer demand for the iPhone sixteen eighty For me

958
00:50:05.760 --> 00:50:09.239
to say, the iPhone sixteen, the thesis, our thesis on

959
00:50:09.320 --> 00:50:12.119
that was that the upgrade cycle, which is like a

960
00:50:12.159 --> 00:50:18.800
generational upgrade cycle, is Apple Intelligence. Without Apple Intelligence, there

961
00:50:18.880 --> 00:50:22.800
is no upgrade Apple and Apple Intelligence is not ready

962
00:50:22.880 --> 00:50:23.519
to go yet, right.

963
00:50:23.559 --> 00:50:24.280
I think that's what they say.

964
00:50:24.320 --> 00:50:27.800
Apple Intelligence is the AI brains behind all of the

965
00:50:27.880 --> 00:50:31.519
wonderful new things that will come with the iPhone sixteen,

966
00:50:31.559 --> 00:50:35.639
including having your old guy, I appreciate this, having your

967
00:50:35.679 --> 00:50:40.519
earbugs be hearing aids. That actually that's true. The earbuds

968
00:50:40.519 --> 00:50:44.400
will actually be hearing aids, AI capability, all kinds of

969
00:50:44.440 --> 00:50:45.519
other wonderful stuff.

970
00:50:45.639 --> 00:50:49.920
Well, sure, every hearing aid company there is, well, I suppose,

971
00:50:50.039 --> 00:50:53.039
but when you think as a person in that market, Okay,

972
00:50:53.039 --> 00:50:55.119
so you've got you've got two kinds of hearing age,

973
00:50:55.159 --> 00:50:57.480
You've got the hearing aids that are good for someone

974
00:50:57.480 --> 00:50:59.280
who has diminished hearing.

975
00:50:59.639 --> 00:51:04.559
Costco and these Apple earbuds for people who have more

976
00:51:04.639 --> 00:51:09.119
than just moderate hearing loss, they're worthless. Yeah I was.

977
00:51:09.239 --> 00:51:12.480
I had a high quality hearing Asian and high quality

978
00:51:12.519 --> 00:51:14.440
hearing age are like five grand a pair, so you'd

979
00:51:14.480 --> 00:51:16.480
like not to have to do that, right, So when

980
00:51:16.639 --> 00:51:18.280
when the first pair wore out and I went to

981
00:51:18.280 --> 00:51:21.880
get everybody saying get Costco, get Costco, I got Costco.

982
00:51:22.239 --> 00:51:25.639
They were worthless for me. They're absolutely fabulous for people

983
00:51:25.679 --> 00:51:28.039
that have moderate hearing loss, but if you have a

984
00:51:28.079 --> 00:51:29.719
more severe hearing loss, they're worthless.

985
00:51:30.719 --> 00:51:33.039
You can connect yours that you have now to your phone.

986
00:51:32.880 --> 00:51:35.880
Right, yeah, mine are my headphones when I go work out.

987
00:51:37.199 --> 00:51:39.760
I blued too them to my phone and I don't

988
00:51:39.760 --> 00:51:42.360
have to wear headphones anymore. I used to get to

989
00:51:42.440 --> 00:51:44.039
the heel or the mountain or whatever, and then I

990
00:51:44.079 --> 00:51:46.159
wouldn't have my hair out. Are they I forgot my head.

991
00:51:46.000 --> 00:51:47.840
For They sweat resistant, like can you get in the

992
00:51:47.840 --> 00:51:48.159
shower with.

993
00:51:48.159 --> 00:51:51.280
The first first pair were not? And I conked them

994
00:51:51.280 --> 00:51:53.519
out in about sixty days and I took them back

995
00:51:53.519 --> 00:51:55.679
and he goes, oh, yeah, well, these are the waters

996
00:51:55.719 --> 00:51:57.239
doing that, and I said, well, I don't put water

997
00:51:57.320 --> 00:51:59.000
on him. He goes, do you work out? He said, yeah,

998
00:51:59.039 --> 00:52:02.039
quite a bit. He goes, they have for two hundred

999
00:52:02.079 --> 00:52:04.280
bucks more, I can get you the waterproof ones. I

1000
00:52:04.320 --> 00:52:08.480
should have got those beginners. I got the waterproof runs now.

1001
00:52:08.559 --> 00:52:10.639
So so far, so good. But you know, when you're

1002
00:52:10.679 --> 00:52:13.800
out in one hundred degrees doing to mochill multiple times,

1003
00:52:13.800 --> 00:52:14.679
you're gonna sweat a little.

1004
00:52:15.559 --> 00:52:19.119
And well back to the iPhone. Yeah, I mean it's

1005
00:52:18.639 --> 00:52:23.320
it looks like now a two year iPhone cycle super cycle.

1006
00:52:23.360 --> 00:52:26.280
But yeah, the AI intelligence not being out, it's probably

1007
00:52:26.360 --> 00:52:30.039
gonna not have the same type of push to people.

1008
00:52:31.239 --> 00:52:34.400
But I see a lot of mixed reports. I'm saying

1009
00:52:34.440 --> 00:52:36.920
they're doing good, They're not doing good. The pre orders

1010
00:52:36.960 --> 00:52:39.079
are bad, the pre orders are good. So you know,

1011
00:52:39.119 --> 00:52:41.079
the stock was up three percent on Thursday on the

1012
00:52:41.119 --> 00:52:43.719
back of some good reports out of stuff. So I

1013
00:52:43.760 --> 00:52:45.679
guess we'll see when the earnings come out.

1014
00:52:45.840 --> 00:52:47.480
But really, I don't think it'll have any impact on

1015
00:52:47.599 --> 00:52:49.400
Ernis at all, todd because they just want.

1016
00:52:49.320 --> 00:52:51.559
That's a good one on sale, way to another quarter.

1017
00:52:51.840 --> 00:52:53.440
It was the first day, so they got ten days.

1018
00:52:53.480 --> 00:52:54.760
Just not gonna really move the needle.

1019
00:52:54.840 --> 00:52:56.400
But this next quarter it won't matter.

1020
00:52:56.480 --> 00:52:59.159
I think I think they're My honest opinion is that

1021
00:52:59.239 --> 00:53:02.599
they're really are going to sell well because people want

1022
00:53:02.639 --> 00:53:05.119
to be ready when an Apple Intelligence gets turned on.

1023
00:53:05.840 --> 00:53:09.320
Don't know when that's going to be because without Apple Intelligence,

1024
00:53:09.320 --> 00:53:11.800
and iPhone sixteen is essentially an iPhone fifteen.

1025
00:53:12.039 --> 00:53:13.800
Yeah, you know what, That's actually a good point because

1026
00:53:13.840 --> 00:53:17.800
of how Apple works with the updates that are happening

1027
00:53:17.880 --> 00:53:22.760
over the cloud, you don't necessarily need the iPhone seventeen, right,

1028
00:53:23.079 --> 00:53:25.239
sixteen will be fine because once they come out with it,

1029
00:53:25.239 --> 00:53:28.400
they'll just send you the new iOS update to put

1030
00:53:28.440 --> 00:53:29.079
on your phone.

1031
00:53:29.119 --> 00:53:30.559
And there are a lot of people that want the

1032
00:53:30.639 --> 00:53:33.840
latest and greatest, and that will be it. And it

1033
00:53:33.920 --> 00:53:36.360
isn't a matter of if. It's a matter of when

1034
00:53:37.000 --> 00:53:39.199
and the day one when they turn that on. If

1035
00:53:39.199 --> 00:53:41.159
you're one of those people, you want to have that

1036
00:53:41.199 --> 00:53:43.559
iPhone sixteen and be able to get those benefits. So

1037
00:53:43.559 --> 00:53:46.800
it's not when, Excuse me, it's not if. It's simply when.

1038
00:53:47.199 --> 00:53:50.119
And the phones, as I understand it, went on sale Friday.

1039
00:53:50.639 --> 00:53:52.199
And that's the thing that I've been thinking a lot

1040
00:53:52.199 --> 00:53:56.519
about with the AI as well, is with Facebook or

1041
00:53:56.599 --> 00:54:02.239
Meta having such a good network effect their devices, their

1042
00:54:02.280 --> 00:54:05.920
AI might eventually be even better than chat GPT, and

1043
00:54:06.039 --> 00:54:08.840
it might already be because of the fact that they

1044
00:54:08.840 --> 00:54:11.159
have more users that are going to be using it,

1045
00:54:11.800 --> 00:54:15.039
so more information that way. Yeah, I mean Google, they

1046
00:54:15.079 --> 00:54:19.519
have all right AI, and then you have Anthropic. Anthropic

1047
00:54:19.559 --> 00:54:21.760
is always kind of behind because they kind of protect

1048
00:54:21.760 --> 00:54:25.119
your data, so with that you can't offer as much capabilities.

1049
00:54:26.079 --> 00:54:29.679
Chat GPT is really really good, but it is looking

1050
00:54:29.800 --> 00:54:32.480
like if I'm someone who's just thinking about how this

1051
00:54:32.559 --> 00:54:34.199
is going to work in the future, you're not gonna

1052
00:54:34.199 --> 00:54:37.199
want to use a different app to go and do

1053
00:54:37.320 --> 00:54:40.719
your AI. For example, if the chat GPT is just

1054
00:54:40.760 --> 00:54:43.880
embedded into your phone, why do you need to go

1055
00:54:43.960 --> 00:54:46.960
download chat GPT. You don't, it's already you already have

1056
00:54:47.239 --> 00:54:50.360
the AI capabilities. So that could really take away from

1057
00:54:50.400 --> 00:54:52.880
some of these companies that don't have network effects, like

1058
00:54:52.880 --> 00:54:57.960
they're just have a standalone AI chatbot that won't really

1059
00:54:58.039 --> 00:55:00.239
help you because the only reason someone's going to use

1060
00:55:00.280 --> 00:55:03.639
you is the network effect of the products around the

1061
00:55:03.679 --> 00:55:07.880
AI that Google. We use Google already and now they

1062
00:55:07.960 --> 00:55:11.000
added the AI which makes our life easier, so we

1063
00:55:11.000 --> 00:55:13.639
we love it, right. I don't think we would download

1064
00:55:13.639 --> 00:55:14.639
Gemini by itself.

1065
00:55:14.880 --> 00:55:16.519
No, I agree with you, because they were, they were,

1066
00:55:16.559 --> 00:55:19.079
they were giving you that option, weren't they for a while. Yeah, yeah,

1067
00:55:19.519 --> 00:55:22.039
you can search it on Gemini. Are insearched on Google.

1068
00:55:22.039 --> 00:55:25.320
I was, I don't know what. Yeah, right, I never

1069
00:55:25.400 --> 00:55:27.280
used it, and now all of a sudden, it's doing it.

1070
00:55:27.360 --> 00:55:30.519
It's doing a nice job, Chad gpt is. I think,

1071
00:55:30.679 --> 00:55:33.679
good if you have a specific question, but it it

1072
00:55:33.840 --> 00:55:35.719
really wants a specific question.

1073
00:55:35.840 --> 00:55:38.119
Well, that's how all chatbots work. I mean you have

1074
00:55:38.199 --> 00:55:40.400
to at the end, they give it an instruction. It's

1075
00:55:40.400 --> 00:55:41.039
a human being.

1076
00:55:41.159 --> 00:55:42.599
I guess I'm from the Google generation.

1077
00:55:43.119 --> 00:55:45.679
Yeah, Google finding information.

1078
00:55:45.880 --> 00:55:48.119
Yeah, Google gives me a lot of choices. How about

1079
00:55:48.199 --> 00:55:49.880
you know, here's here's for example.

1080
00:55:49.880 --> 00:55:53.599
I mean, we had a good piece about the r

1081
00:55:53.719 --> 00:55:56.159
m D rules out of four to one k yes, right,

1082
00:55:56.199 --> 00:55:58.920
And so you could have easily just Googled it and

1083
00:55:59.280 --> 00:56:02.239
type into your your websites, tuck into them, read what

1084
00:56:02.280 --> 00:56:04.639
the IRS dot gov said, or you can just ask

1085
00:56:04.880 --> 00:56:07.320
you know, an AII chat boy and it will search

1086
00:56:07.559 --> 00:56:09.880
the IRIS go and make sure it's updated for twenty

1087
00:56:09.880 --> 00:56:12.559
twenty four. Yeah, so that's the mistake that a lot

1088
00:56:12.559 --> 00:56:15.679
of people do. They'll get results back and then just

1089
00:56:15.679 --> 00:56:18.039
believe it. Like you can make sure you can ask

1090
00:56:18.079 --> 00:56:20.159
the chat make sure this is correct, and it will

1091
00:56:20.199 --> 00:56:22.320
re check itself. And a lot of times people say,

1092
00:56:22.320 --> 00:56:23.760
you know what, I made a mistake the first time,

1093
00:56:24.000 --> 00:56:25.960
or make sure this is updated for this year. You

1094
00:56:26.039 --> 00:56:28.599
know what, this is actually the new updated information. So

1095
00:56:28.800 --> 00:56:30.719
but with the R and D rules, what we figured

1096
00:56:30.719 --> 00:56:34.559
out now that we're talking about it is we used

1097
00:56:34.559 --> 00:56:38.239
to think that aggregation of rm ds was allowed for

1098
00:56:38.320 --> 00:56:39.960
all qualified accounts.

1099
00:56:40.079 --> 00:56:41.239
Very interesting information.

1100
00:56:41.800 --> 00:56:46.119
Yeah, what we found this week is four one k's Specifically,

1101
00:56:46.199 --> 00:56:47.519
the R and D for your four to one K

1102
00:56:47.639 --> 00:56:49.760
has to be taken out for that specific four to

1103
00:56:49.800 --> 00:56:51.960
one k right from that account, from that account.

1104
00:56:52.039 --> 00:56:53.679
If you've got one hundred thousand and four one can

1105
00:56:53.719 --> 00:56:55.679
one hundred thousand in IRA, and you need to take

1106
00:56:55.719 --> 00:56:58.400
out four percent, right, which is which is a grand

1107
00:56:58.559 --> 00:57:01.280
You can't take it from just the IRA, right, you

1108
00:57:01.360 --> 00:57:03.440
have to take it from from each one.

1109
00:57:03.480 --> 00:57:05.599
Now, if you roll your four one k into your IRA,

1110
00:57:05.800 --> 00:57:07.880
obviously you don't have a four one k anymore, right,

1111
00:57:07.960 --> 00:57:10.679
And if you have three different iras all one hundred thousand,

1112
00:57:10.800 --> 00:57:12.760
you can take all your rm D from just one

1113
00:57:12.840 --> 00:57:17.320
I RA that's allowed. Yep, absolutely for IRA, absolutely many

1114
00:57:17.400 --> 00:57:19.800
you put the four one k into the picture, you

1115
00:57:19.840 --> 00:57:23.599
can't aggregate. That was an interesting one. And also we

1116
00:57:24.039 --> 00:57:27.440
learned about if you're still working past R m D

1117
00:57:27.639 --> 00:57:31.440
ah and you're still contributing to a active four one

1118
00:57:31.480 --> 00:57:33.320
K plan, you don't have to take your rm D

1119
00:57:33.440 --> 00:57:35.960
from that four one k, only that four one K

1120
00:57:36.440 --> 00:57:38.039
until you officially retire.

1121
00:57:38.119 --> 00:57:41.920
Yeah. That's something that I was was tricked on about

1122
00:57:41.960 --> 00:57:44.039
ten years ago. And remember it. It was an eighty

1123
00:57:44.079 --> 00:57:46.519
two year old guy who was a pharmacaut to Walgreens,

1124
00:57:46.960 --> 00:57:48.800
contributing to his four one K and he came in

1125
00:57:48.840 --> 00:57:51.000
for a financial plan. I said, are you are you

1126
00:57:51.039 --> 00:57:53.079
taking your m D. He goes, no, I don't have to.

1127
00:57:53.480 --> 00:57:55.599
I'm still working and still contributed. And I said, I

1128
00:57:55.599 --> 00:57:58.960
think you're wrong. Well he was right, and I learned something.

1129
00:57:59.199 --> 00:58:01.199
Apparently called this still working exception.

1130
00:58:01.360 --> 00:58:03.480
Yeah, still working exception. So I don't know what the

1131
00:58:03.559 --> 00:58:06.760
thinking is on that, but whatever it is, what it is,

1132
00:58:06.800 --> 00:58:10.320
I mean, you can contribute to an IRA and be

1133
00:58:10.400 --> 00:58:11.480
required to take R and B.

1134
00:58:11.719 --> 00:58:13.480
The only thing I can from the IRS's point of

1135
00:58:13.559 --> 00:58:16.199
view is well, you are working. You're still paying taxes

1136
00:58:16.199 --> 00:58:19.599
on your PA stuff. We won't start taxing you until

1137
00:58:19.639 --> 00:58:21.519
you actually start taking money out of here, you know,

1138
00:58:21.599 --> 00:58:22.679
until you fisially retire.

1139
00:58:23.199 --> 00:58:25.760
We got some history this weekend. You guys may not

1140
00:58:25.800 --> 00:58:28.079
be aware of this big history this weekend.

1141
00:58:28.000 --> 00:58:29.159
Some history that happened this week too.

1142
00:58:29.159 --> 00:58:31.800
I'll let you know on Sunday. I don't think we

1143
00:58:31.880 --> 00:58:34.719
want to go there. On Sunday, the Las Vegas Raiders

1144
00:58:35.639 --> 00:58:37.920
are going to play the Carolina Panthers. Now that, on

1145
00:58:38.000 --> 00:58:42.119
the surface does not sound like a real compelling It's

1146
00:58:42.159 --> 00:58:45.599
not pretty okay, So what's compelling about this? It's the

1147
00:58:45.679 --> 00:58:49.920
first time in history two NFL teams with female presidents

1148
00:58:49.920 --> 00:58:55.199
will play each other. Whoa first time in history making

1149
00:58:55.239 --> 00:58:56.039
the way to the top.

1150
00:58:56.079 --> 00:58:57.639
I thought you were going to like female quarterback.

1151
00:58:57.679 --> 00:59:00.920
I know you could ask. That's good. You could ask

1152
00:59:00.960 --> 00:59:04.239
probably a group of one hundred random Americans, and I

1153
00:59:04.280 --> 00:59:08.000
bet you not two percent would know which teams have

1154
00:59:08.039 --> 00:59:09.079
a female president.

1155
00:59:09.679 --> 00:59:12.039
I agree with you, No, I didn't even know there

1156
00:59:12.039 --> 00:59:17.199
were femal The two female presidents teams each other for

1157
00:59:17.239 --> 00:59:18.119
the first time in history.

1158
00:59:18.159 --> 00:59:21.239
Well, if we're on sports facts, Shohani A. Tani Or

1159
00:59:22.440 --> 00:59:26.360
was the first, amazing first m will be ever, how

1160
00:59:26.440 --> 00:59:27.920
how old is that ever?

1161
00:59:28.199 --> 00:59:31.360
That league? Right, seven hundred million dollars. He earned it.

1162
00:59:31.440 --> 00:59:32.000
He earned it.

1163
00:59:31.960 --> 00:59:34.480
Because it's the first human being in the history of

1164
00:59:34.639 --> 00:59:36.840
the oldest league that I think we know in America

1165
00:59:37.400 --> 00:59:40.119
to do fifty home runs and fifty stolen bases in

1166
00:59:40.159 --> 00:59:42.679
one season. No, no person's ever done it in one season.

1167
00:59:43.280 --> 00:59:46.360
And he's not even pitching yet, Dave. This guy is

1168
00:59:46.400 --> 00:59:48.639
the new Babe Ruth. It's quite amazing that we're able

1169
00:59:48.679 --> 00:59:50.400
to live through it because no one thought you would

1170
00:59:50.400 --> 00:59:53.599
see another Babe Ruth ever again. And this guy is

1171
00:59:53.599 --> 00:59:54.280
a Babe Ruth.

1172
00:59:54.320 --> 00:59:55.159
It's ridiculous.

1173
00:59:55.440 --> 00:59:56.920
He's phenomenal.

1174
00:59:56.960 --> 00:59:58.519
I guess he's worth that seven hundred million.

1175
00:59:58.559 --> 01:00:00.639
So that I know you got a big interested first

1176
01:00:00.760 --> 01:00:04.119
one million deferred, Yep, yeah, deferred. This is exactly right.

1177
01:00:04.159 --> 01:00:06.280
I understand. I know you've got a big interest in crypto.

1178
01:00:07.119 --> 01:00:11.920
Anthony Scaramucci, who's the founder and managing partner of Skybridge Capital,

1179
01:00:12.079 --> 01:00:15.199
I'm CNBC quite a bit, says he and a group

1180
01:00:15.239 --> 01:00:19.119
of crypto advocates are working with Kamala to develop her

1181
01:00:19.199 --> 01:00:24.199
campaign policies on digital assets. Now we know that Trump's

1182
01:00:24.199 --> 01:00:27.079
been a strong advidate crypto, and what's with all this

1183
01:00:27.239 --> 01:00:29.719
interesting crypto? And then you crypto, and then you look

1184
01:00:29.760 --> 01:00:33.039
and he says, crypto individuals and corporations have given more

1185
01:00:33.079 --> 01:00:36.679
than one hundred and ninety million to this election in

1186
01:00:36.719 --> 01:00:40.760
twenty twenty. You know what, it was, fifteen million, one

1187
01:00:40.840 --> 01:00:46.199
hundred and ninety million dollars in political contributions. And suddenly

1188
01:00:46.800 --> 01:00:48.920
Donald and Kamala are all in on crypto.

1189
01:00:49.000 --> 01:00:49.559
They care about it.

1190
01:00:49.599 --> 01:00:52.320
I wonder why exactly. I mean, back in twenty twenty,

1191
01:00:52.440 --> 01:00:55.559
I think Trump did call bitcoin like a scam or something.

1192
01:00:55.719 --> 01:00:57.079
No, absolutely call it a scam.

1193
01:00:57.239 --> 01:01:00.920
And now he's he was at the bitcoin conference. So yeah,

1194
01:01:01.000 --> 01:01:03.960
we don't forget us people on the bitcoin. We remember

1195
01:01:04.079 --> 01:01:05.320
we take forceipts.

1196
01:01:05.159 --> 01:01:08.199
It's a it's a take receipts. Yeah, yeah, you're talking

1197
01:01:08.239 --> 01:01:09.159
about some good stuff.

1198
01:01:09.440 --> 01:01:11.400
Come on. But you're still excited when he was there,

1199
01:01:11.519 --> 01:01:14.599
of course, because you are yourself a bitcoin advocate.

1200
01:01:14.639 --> 01:01:16.480
And again I don't like the word crypto because I

1201
01:01:16.480 --> 01:01:20.199
don't necessarily believe in all these other projects, but bitcoin itself,

1202
01:01:20.239 --> 01:01:23.079
it's game theory. The more and more people that get

1203
01:01:23.159 --> 01:01:26.119
rich off of it, they can influence the policies that

1204
01:01:26.159 --> 01:01:29.079
will allow it to get more accessible to people.

1205
01:01:29.199 --> 01:01:31.159
Well, and it's becoming more and more mainstream.

1206
01:01:31.360 --> 01:01:33.679
About an ETF A spot Bitcoin et F four years

1207
01:01:33.679 --> 01:01:36.360
ago never would have happened. There wasn't interest enough for

1208
01:01:36.400 --> 01:01:39.159
it to even get put on the SEC's desk. So

1209
01:01:39.639 --> 01:01:41.840
when once it gets high enough in pricing enough people

1210
01:01:41.920 --> 01:01:45.159
get rich enough to actually lobby that to the SEC, well,

1211
01:01:45.159 --> 01:01:47.519
then you can finally see some meaningful change. So yeah,

1212
01:01:47.559 --> 01:01:49.440
as much as we know that these people are just

1213
01:01:49.480 --> 01:01:52.039
speaking out of both sides their mouths, it puts it

1214
01:01:52.079 --> 01:01:55.199
into this spotlight. And that's what these we people need.

1215
01:01:55.280 --> 01:01:58.079
I mean we as bitcoin really do believe that this

1216
01:01:58.599 --> 01:02:02.119
entire world's problems are fundamentally based on our money supply

1217
01:02:02.159 --> 01:02:05.119
and how corrupt it is. And that's the only way

1218
01:02:05.920 --> 01:02:09.280
that that community thinks our world can be saved is

1219
01:02:09.280 --> 01:02:11.440
you have to have a money supply that isn't controlled

1220
01:02:11.480 --> 01:02:13.760
by any one group of people. Simple as that.

1221
01:02:14.199 --> 01:02:16.039
The majority of the vast majority of that one hundred

1222
01:02:16.079 --> 01:02:21.239
and ninety million dollars was crypto donations Bitcoin not bitcoin.

1223
01:02:21.320 --> 01:02:24.159
I'm mostly I'm with you, Tod. I'm not dead interested

1224
01:02:24.199 --> 01:02:26.760
in other crypto it's it's it's a bighostin.

1225
01:02:26.880 --> 01:02:29.519
I mean, you have Funco. That's more like a casino

1226
01:02:29.559 --> 01:02:29.800
to me.

1227
01:02:30.119 --> 01:02:33.440
So I was pretty excited this week Walgreen to Walgreens.

1228
01:02:33.519 --> 01:02:36.920
Death Mark just has stopped for two for two weeks

1229
01:02:36.920 --> 01:02:38.719
in a row. It has not set a new multi

1230
01:02:38.760 --> 01:02:43.000
decade low, is it Walgreens? Yeah, yeah, for two for

1231
01:02:43.000 --> 01:02:45.719
two two weeks in a row. Now now down It

1232
01:02:45.800 --> 01:02:48.519
is down sixty seven percent for the year. But at

1233
01:02:48.599 --> 01:02:51.239
Tract Yeah, and you guys, you guys believe that their

1234
01:02:51.280 --> 01:02:54.880
business model is busted. So horrible, horrible, horrible. So and

1235
01:02:55.000 --> 01:02:57.159
I can't and they don't stop anybody from steeling. So

1236
01:02:57.199 --> 01:02:59.039
if you want something to don it in money, go

1237
01:02:59.119 --> 01:02:59.400
on in.

1238
01:02:59.639 --> 01:03:02.440
I don't even know how you could like consciously do that.

1239
01:03:02.760 --> 01:03:05.199
Like I was like, like, could I even just walk

1240
01:03:05.239 --> 01:03:06.280
in and just take something?

1241
01:03:06.400 --> 01:03:07.599
Just do it?

1242
01:03:07.679 --> 01:03:09.360
You know, I don't think I could.

1243
01:03:09.719 --> 01:03:12.360
No, And I was at the one that the one

1244
01:03:12.400 --> 01:03:16.199
that granted excuse me, is it total? And uh Campbell? Yeah,

1245
01:03:16.320 --> 01:03:19.039
it was horrible, horrible and my least favorite, very busy,

1246
01:03:19.320 --> 01:03:23.639
very busy, full of of of vagrants loading up, you know,

1247
01:03:23.679 --> 01:03:25.880
and these guys in there with this with a shopping cart,

1248
01:03:26.000 --> 01:03:27.639
homeless guys in there with a shopping car.

1249
01:03:30.199 --> 01:03:31.199
Nobody's shopping him.

1250
01:03:31.199 --> 01:03:33.559
Oh my god, how's that? How's that gonna work? Well?

1251
01:03:33.639 --> 01:03:35.480
It makes you think, like why they even need a

1252
01:03:35.480 --> 01:03:38.280
panhandle anymore? I mean, like you just go to Walgreens.

1253
01:03:38.320 --> 01:03:40.559
That's your that's like a it's an eight station, But

1254
01:03:40.719 --> 01:03:41.039
isn't it.

1255
01:03:41.599 --> 01:03:42.400
I guess they could.

1256
01:03:42.280 --> 01:03:44.440
Probably need a panhandle so you could get the cash

1257
01:03:44.480 --> 01:03:45.760
to buy the whatever.

1258
01:03:46.119 --> 01:03:48.320
But I think they could, you know, they could save Yeah,

1259
01:03:48.360 --> 01:03:50.039
I guess for this, And they could save a lot

1260
01:03:50.079 --> 01:03:57.800
of money if they just eliminade cashiers. Everybody just walking out?

1261
01:03:58.400 --> 01:03:59.800
Why are you paying for many?

1262
01:04:00.119 --> 01:04:01.920
This annoying to honest people?

1263
01:04:02.199 --> 01:04:04.760
Yeah, replace the cashiers with a security guards. You might

1264
01:04:04.800 --> 01:04:05.920
make a little money.

1265
01:04:06.000 --> 01:04:09.519
Hey, some some dogs of the Tao some some We

1266
01:04:09.559 --> 01:04:10.800
talked a little bit about walkers.

1267
01:04:11.079 --> 01:04:13.840
Wait question before you go, doto that what's going on

1268
01:04:13.880 --> 01:04:15.880
with best Buy? What's it been doing?

1269
01:04:16.119 --> 01:04:20.000
It's fantastic, is a multi year high, it's a hundred bucks.

1270
01:04:20.519 --> 01:04:22.880
It's kicking. But taking names. If you don't listen to me,

1271
01:04:22.920 --> 01:04:26.159
it'd all be rich. You don't name bitcoin. Just need

1272
01:04:26.199 --> 01:04:33.559
me fed X Yeah, yeah, yeah, yeah, I'm pretty excited.

1273
01:04:33.840 --> 01:04:35.800
I'm pretty excited because you guys were all against me

1274
01:04:35.840 --> 01:04:37.719
on that one and it actually works. Yeah, good, col

1275
01:04:38.320 --> 01:04:41.320
I feel I feel indicated a little bit there. Fed

1276
01:04:41.480 --> 01:04:44.480
X is often seen as a gauge of the global economy,

1277
01:04:44.559 --> 01:04:47.599
up twenty percent this year, but plunge fifteen percent of

1278
01:04:47.679 --> 01:04:50.440
the open on Friday after they reported the disappointing quarter

1279
01:04:50.800 --> 01:04:55.440
and disappointing guidance. Industrial demand, which is their most profitable segment,

1280
01:04:55.599 --> 01:04:59.440
is weak. Nike, one of the worst performing dovestocks, ten

1281
01:04:59.440 --> 01:05:02.079
percent up on Friday on news their CEO of less

1282
01:05:02.079 --> 01:05:05.039
than four years is stepping down in favor of a

1283
01:05:05.079 --> 01:05:09.559
thirty two year former Nike executive third two year veteran

1284
01:05:09.679 --> 01:05:13.400
coire coming out of retirement to fix things that's so bad.

1285
01:05:13.920 --> 01:05:16.239
And then Boeing, the worst performing stock in the Dow,

1286
01:05:16.800 --> 01:05:20.079
can't catch a break or regulatory problems, Union problem stocks

1287
01:05:20.119 --> 01:05:23.119
down forty percent this year, hit a new two year

1288
01:05:23.199 --> 01:05:26.039
low on Friday. And I don't know, I don't know

1289
01:05:26.079 --> 01:05:30.840
where it stops, but it's it's a great American company

1290
01:05:30.920 --> 01:05:34.119
that employs tens of thousands of Americans. It's important to

1291
01:05:34.280 --> 01:05:37.880
our country, and I hope they can get the ship

1292
01:05:38.320 --> 01:05:38.920
turned around.

1293
01:05:39.840 --> 01:05:42.159
Yeah, I mean, I heard Doan talk about Intel earlier.

1294
01:05:42.239 --> 01:05:46.559
You had Intel have the talks about Qualcom earlier in

1295
01:05:46.599 --> 01:05:50.840
the week, approaching them to buy them. You know, they

1296
01:05:50.880 --> 01:05:52.920
didn't necessarily give them six billion dollars.

1297
01:05:52.920 --> 01:05:55.519
That was late Friday and the stock kind of on

1298
01:05:56.360 --> 01:05:56.880
Yeah it we.

1299
01:05:57.079 --> 01:06:00.599
Jumped up seven and finished up only three. So yeah,

1300
01:06:00.599 --> 01:06:03.199
that was late Friday. And you know, the government they

1301
01:06:03.239 --> 01:06:06.079
made a deal with Intel that they would give six

1302
01:06:06.119 --> 01:06:09.159
point five billion to make the chips and another three

1303
01:06:09.159 --> 01:06:12.400
point five billion that's still up in the air. And

1304
01:06:12.239 --> 01:06:15.880
that's kind of the point of the issues that have

1305
01:06:16.119 --> 01:06:18.880
led to the stock really getting hurt. Not to mention

1306
01:06:19.039 --> 01:06:20.719
just the fact that they've always been behind the eight

1307
01:06:20.760 --> 01:06:24.519
ball on updating these things and they're now spending billions

1308
01:06:24.519 --> 01:06:27.559
of dollars creating a foundry. So a lot of spending

1309
01:06:27.599 --> 01:06:30.440
problems and all of a lot of unsure deals, and

1310
01:06:30.760 --> 01:06:32.599
Qualcomb approached them to help them out.

1311
01:06:32.960 --> 01:06:33.079
Uh.

1312
01:06:33.239 --> 01:06:35.480
I don't think it's just about cash, but it is

1313
01:06:35.519 --> 01:06:38.440
more about the fact that Qualcomb has a lot better

1314
01:06:38.559 --> 01:06:40.719
ability to run that company. It seems like.

1315
01:06:40.840 --> 01:06:43.119
Seems like it. I'm thinking, now, all we need to

1316
01:06:43.119 --> 01:06:46.280
do is find somebody to be interested in boying be

1317
01:06:46.440 --> 01:06:49.760
what interested interested in Born. Yeah, then we're we're on

1318
01:06:49.800 --> 01:06:52.880
our way, you know. I was at the line can

1319
01:06:52.920 --> 01:06:58.159
Totam all last weekend and between Firebird and North they'll

1320
01:06:58.320 --> 01:07:02.199
typically homested, will typically have a vehicle parked there. Sometimes

1321
01:07:02.199 --> 01:07:05.159
it's the Lightning electric trucks. Sometimes it's one of their

1322
01:07:05.199 --> 01:07:08.960
gas powered cars, ices their ice in general combustion engine cars.

1323
01:07:09.880 --> 01:07:12.760
This past weekend it was the Ford Mustang mock E,

1324
01:07:13.199 --> 01:07:16.639
which which I love the looks of the electric Mustang.

1325
01:07:17.360 --> 01:07:20.440
I think it's the best looking electric out there. I

1326
01:07:20.519 --> 01:07:23.039
bought Tesla because they've simply been doing it a lot longer,

1327
01:07:23.039 --> 01:07:26.320
and I thought they're better at it. But I looked

1328
01:07:26.320 --> 01:07:30.039
at the window and on the window has said fifty

1329
01:07:30.079 --> 01:07:34.320
one of the components are made in China and the

1330
01:07:34.360 --> 01:07:38.840
car eighteen percent of the assembly is in Mexico. So

1331
01:07:38.880 --> 01:07:42.920
it got me to thinking, yeah. So got me thinking, Okay,

1332
01:07:42.960 --> 01:07:47.480
so I wonder if there are any cars made in

1333
01:07:47.519 --> 01:07:50.599
America anymore, and if so, who are they? Who makes

1334
01:07:50.639 --> 01:07:54.760
the American cars? Right? So I did a little research

1335
01:07:55.039 --> 01:07:58.559
and the number one made American car, the car that

1336
01:07:58.639 --> 01:08:02.639
has the most American in it is Tesla Tesla Model

1337
01:08:02.760 --> 01:08:06.719
y Wow, Tesla, Good job Tesla Model Y, which is

1338
01:08:06.760 --> 01:08:09.400
not only the safest car on the road for the

1339
01:08:09.519 --> 01:08:15.599
European UH safety testers, it is also the most American

1340
01:08:15.679 --> 01:08:18.960
car you can buy. The Tesla Model Y. Tesla Model

1341
01:08:19.119 --> 01:08:23.079
S was number four on the list of Tesla Model

1342
01:08:23.199 --> 01:08:26.640
S number two Honda Passport, number three, Volkswagen I D

1343
01:08:27.159 --> 01:08:31.760
to International company number five Honda Odyssey in that international Yeah,

1344
01:08:32.239 --> 01:08:35.279
but Tesla far and away the most American car.

1345
01:08:35.680 --> 01:08:40.640
And you can think, are world reserve currency for that Bitcoin? No,

1346
01:08:40.960 --> 01:08:42.920
the dollar, the dollar. The fact that we are the

1347
01:08:42.920 --> 01:08:45.760
world reserve currency, it makes it that our exports are

1348
01:08:46.119 --> 01:08:49.920
a lot less attractive because if we have a strong dollar,

1349
01:08:49.960 --> 01:08:51.840
people internationally are not gonna be able to buy as much,

1350
01:08:52.119 --> 01:08:56.800
so we It really just glutted our manufacturing base. That's

1351
01:08:56.840 --> 01:08:59.399
why we are now not a manufacturing economy like we

1352
01:08:59.399 --> 01:09:02.319
were in the eighteen sixties and early seventies. And once

1353
01:09:02.319 --> 01:09:04.319
we got off the gold standard, we became the world

1354
01:09:04.319 --> 01:09:07.479
reserve currency. Everyone was indebted to the dollar and made

1355
01:09:07.479 --> 01:09:10.800
the dollar really lose value over a long period of time,

1356
01:09:10.920 --> 01:09:14.119
and that hurt our manufacturing economy no one. That's why

1357
01:09:14.119 --> 01:09:16.680
Detroit is just nowhere to be found on the map anymore.

1358
01:09:17.439 --> 01:09:19.840
A lot of other you know, NADI in America cities

1359
01:09:19.920 --> 01:09:23.279
had that same impact. And that's again why you saw,

1360
01:09:23.520 --> 01:09:25.479
you know, a lot of blue collar jobs be taken away,

1361
01:09:25.479 --> 01:09:29.439
white collar jobs added or services economy now not in manufacturing.

1362
01:09:29.640 --> 01:09:31.920
Yeah, I bought it. I bought it just for fun.

1363
01:09:32.039 --> 01:09:34.279
My Tesla motel while at least it just for fun,

1364
01:09:34.359 --> 01:09:36.159
you know, just to kind of see what the experience

1365
01:09:36.239 --> 01:09:37.840
was all about. Because they hurt so much negative, so

1366
01:09:37.920 --> 01:09:39.640
much positive, I thought, I'm gonna just try it out

1367
01:09:39.640 --> 01:09:42.960
for three years. Yeah, but here I've got the safest

1368
01:09:42.960 --> 01:09:46.399
car on the road and the most American car that

1369
01:09:46.600 --> 01:09:48.560
is out there. Yeah, so I'm feeling kind of proud

1370
01:09:48.600 --> 01:09:49.079
of myself.

1371
01:09:49.159 --> 01:09:49.640
There you go.

1372
01:09:49.920 --> 01:09:52.600
And you know another thing that happened this year's we

1373
01:09:52.600 --> 01:09:56.359
were producing more oil than ever. And you know, in

1374
01:09:56.399 --> 01:10:01.720
a regime, presidential regime who you know loves green deals

1375
01:10:01.760 --> 01:10:04.640
and things like that. Super ironic, right, How can you

1376
01:10:04.680 --> 01:10:08.119
be telling us that you're going to be green deal

1377
01:10:08.159 --> 01:10:10.680
all the way, but you're producing oil like we've never

1378
01:10:10.720 --> 01:10:11.560
have in the history.

1379
01:10:12.199 --> 01:10:14.279
And imagine how much you could be producing if you

1380
01:10:14.439 --> 01:10:15.319
just let the rain.

1381
01:10:15.159 --> 01:10:16.560
If you did it from the jump. Yeah, I mean,

1382
01:10:16.840 --> 01:10:20.000
he kind of they worked backwards once they saw the

1383
01:10:20.000 --> 01:10:22.560
inflation of not you know, oil really getting up there

1384
01:10:22.600 --> 01:10:24.840
a year and a half ago. But yeah, we are

1385
01:10:24.880 --> 01:10:26.079
producing a lot of oil.

1386
01:10:26.199 --> 01:10:28.439
We are hepaking of speaking of Tesla before we leave

1387
01:10:28.479 --> 01:10:31.439
that space we can demand and declining prices we know

1388
01:10:31.439 --> 01:10:34.640
about that has sent the share had sent the shares down,

1389
01:10:34.680 --> 01:10:40.359
but the uh down fourteen percent in the last twelve months,

1390
01:10:40.640 --> 01:10:43.600
but they jumped seven percent on Thursday news the company

1391
01:10:43.720 --> 01:10:46.279
despite strong competition. This one makes me scratch my head

1392
01:10:46.279 --> 01:10:48.319
a little bit. Todd is on track for the best

1393
01:10:48.399 --> 01:10:52.880
year they've ever had in China. Bad economy, lots of competition.

1394
01:10:52.960 --> 01:10:54.119
I'm a little surprised.

1395
01:10:54.279 --> 01:10:55.960
Yeah, China is a surprising one.

1396
01:10:57.000 --> 01:11:00.159
And then a couple of Chinese electric carmakers you can

1397
01:11:00.199 --> 01:11:03.640
buy them price owned for ten thousand bucks a small

1398
01:11:03.680 --> 01:11:06.520
battery just to be used around town. There was one

1399
01:11:06.560 --> 01:11:08.600
that was a touring car that actually did have some

1400
01:11:08.720 --> 01:11:11.880
range to it. That was twenty six thousand. So prices

1401
01:11:11.920 --> 01:11:14.760
there are are coming down and hopefully they'll be coming

1402
01:11:14.760 --> 01:11:17.399
down here. My Tesla, when at least it was in

1403
01:11:17.439 --> 01:11:20.199
the low sixties, had a client buy one last week

1404
01:11:20.479 --> 01:11:23.640
high forties, So they they've come down pretty dramatically.

1405
01:11:23.680 --> 01:11:26.920
And also I think they have lower they have lower

1406
01:11:27.000 --> 01:11:29.720
rates right now. The lower rates, yes, so they're borrowing

1407
01:11:29.840 --> 01:11:32.279
is easier in their consumers. So that potentially is why

1408
01:11:32.840 --> 01:11:35.640
a little easier access to financing. And here in the

1409
01:11:35.640 --> 01:11:36.479
States maybe.

1410
01:11:36.239 --> 01:11:37.720
I think so that's a nice thing for her. She

1411
01:11:37.720 --> 01:11:39.000
didn't have to wait at all. I hide to wait

1412
01:11:39.039 --> 01:11:40.800
six weeks for mine. But now there's so many of

1413
01:11:40.800 --> 01:11:44.199
them because they've been because of the demand declining, that

1414
01:11:44.279 --> 01:11:46.359
they are the lots full of them. We will be

1415
01:11:46.399 --> 01:11:48.079
back right up to this message. You've got a couple

1416
01:11:48.199 --> 01:11:51.039
more segments to go. We appreciate you going this Without you,

1417
01:11:51.119 --> 01:11:52.520
this would be kind of stupid.

1418
01:11:53.680 --> 01:11:55.560
Welcome back to the Money Matter Show. My name is

1419
01:11:55.600 --> 01:11:58.680
Todd Glick. I'm here with Sebastian bors Sini and David Sherwood.

1420
01:11:58.840 --> 01:12:00.479
You know a big stock that we always in the

1421
01:12:00.479 --> 01:12:03.039
office because a lot of people are impacted by it

1422
01:12:03.079 --> 01:12:06.520
is Raytheon stock RTX. I was speaking with one of

1423
01:12:06.560 --> 01:12:09.119
the Ratheon employees today and they said, hey, did you

1424
01:12:09.119 --> 01:12:12.880
hear about the Raytheon changing there four to one k match?

1425
01:12:13.159 --> 01:12:15.880
Now what they're going to do at Raytheon? Apparently, according

1426
01:12:15.920 --> 01:12:18.560
to some people that are in the plant. They're going

1427
01:12:18.640 --> 01:12:21.640
to be matching company stock instead.

1428
01:12:21.239 --> 01:12:22.119
Of just dollars.

1429
01:12:22.520 --> 01:12:26.399
Really into the Raytheon four one. Yes, interesting little interesting,

1430
01:12:26.680 --> 01:12:28.560
Uh so they you know, he said, well, what do

1431
01:12:28.560 --> 01:12:30.479
you think about Raytheon stock. I'm like, well, it has

1432
01:12:30.600 --> 01:12:33.680
had one heck of a year. It's a forty percent

1433
01:12:33.760 --> 01:12:34.279
year today.

1434
01:12:34.399 --> 01:12:34.960
That's been great.

1435
01:12:35.039 --> 01:12:38.159
It's doubled, the stock market is turning. It looks like

1436
01:12:38.199 --> 01:12:40.159
they're going to be doing fine for a while now.

1437
01:12:40.760 --> 01:12:43.640
Just to put in people's mind, the one year forward

1438
01:12:43.680 --> 01:12:47.039
price target the analysts are averaging on is one hundred

1439
01:12:47.079 --> 01:12:49.760
and twenty three, which is only a five percent upmove

1440
01:12:49.800 --> 01:12:52.520
from here. So we're pretty much where we analysts think

1441
01:12:52.560 --> 01:12:55.720
they'd be. The technicals are still a bye. But again,

1442
01:12:56.079 --> 01:12:57.520
you know, when things are going to new all the

1443
01:12:57.520 --> 01:12:59.159
time high, it's not something you love to have. So

1444
01:12:59.359 --> 01:13:02.039
potentially yons doing this because it saves the money. It's

1445
01:13:02.039 --> 01:13:04.199
easier to access it on a cash flow basis than

1446
01:13:04.279 --> 01:13:07.079
just outright dollars. Who knows, that'd be a question for

1447
01:13:07.079 --> 01:13:11.239
the CFO. But overall, I don't think you're required to

1448
01:13:11.319 --> 01:13:14.039
keep the raightthon in the match in the ratething on stock.

1449
01:13:14.039 --> 01:13:16.399
I think you're able to maneuver out of it. But

1450
01:13:17.159 --> 01:13:20.079
as financial advisors, we can't give advice on retirement plan,

1451
01:13:20.159 --> 01:13:21.039
so we're not going to go there.

1452
01:13:21.159 --> 01:13:23.000
It would be it would be interesting to see how

1453
01:13:23.079 --> 01:13:25.560
long you were able to hold more specifics about it,

1454
01:13:25.560 --> 01:13:29.920
because one of the do not do this is do

1455
01:13:30.039 --> 01:13:32.439
not buy your company stock in your four one K

1456
01:13:32.560 --> 01:13:35.239
plan because then if the company goes under, there goes

1457
01:13:35.279 --> 01:13:37.079
your four to one K and your job.

1458
01:13:37.239 --> 01:13:38.479
The N wrong lesson.

1459
01:13:38.279 --> 01:13:40.319
Right, and the N run lesson. It's very good. And

1460
01:13:40.359 --> 01:13:42.920
I had a gal who was a cashier at Costcos

1461
01:13:43.000 --> 01:13:46.079
for twenty three years, and she did everything wrong, which

1462
01:13:46.119 --> 01:13:47.600
is putting in one hundred percent of her four to

1463
01:13:47.600 --> 01:13:51.239
one K in Costco stock, and after twenty through twenty

1464
01:13:51.239 --> 01:13:54.199
four years as a cashier at Costco walked away with

1465
01:13:54.319 --> 01:13:56.920
one point five million dollars. Yeah, so there you go. Yeah,

1466
01:13:56.960 --> 01:14:00.079
and did everything wrong right, So it's interesting.

1467
01:13:59.760 --> 01:14:01.479
All eggs in one basket and pay it off.

1468
01:14:01.640 --> 01:14:04.079
Well, it's interesting because I guess in theory, unless they're

1469
01:14:04.159 --> 01:14:07.119
using treasury stock, that would mean that Raytheon's buying a

1470
01:14:07.119 --> 01:14:11.159
whole bunch of stock right every month, And for people

1471
01:14:11.159 --> 01:14:14.159
that don't understand, for one came match for people that

1472
01:14:14.199 --> 01:14:17.319
don't understand four one K match doud. You would think

1473
01:14:17.359 --> 01:14:19.760
most people understand what that is. You want to explain

1474
01:14:19.800 --> 01:14:20.399
that just briefly.

1475
01:14:20.520 --> 01:14:22.960
Yeah, So, if I'm contributing three percent of my paycheck

1476
01:14:23.000 --> 01:14:25.000
into a four to one K and they're gonna match

1477
01:14:25.000 --> 01:14:27.000
me one hundred percent up to three percent, what that

1478
01:14:27.039 --> 01:14:29.399
means is the company if I my three percent is

1479
01:14:29.439 --> 01:14:31.960
five thousand dollars, they're gonna put five thousand dollars in there,

1480
01:14:32.000 --> 01:14:32.479
matching me.

1481
01:14:32.600 --> 01:14:37.119
They're giving it to you pretty much non taxable at

1482
01:14:37.119 --> 01:14:39.960
that point taxable and you take it out. Yeah yeah,

1483
01:14:40.000 --> 01:14:43.880
but uh but matches you. We talk a lot on

1484
01:14:43.920 --> 01:14:46.640
the show about energy needs because we have so many

1485
01:14:46.680 --> 01:14:51.600
different industries that are going to need energy. What comes

1486
01:14:51.640 --> 01:14:54.239
to mind, of course is AI. AI takes a ton

1487
01:14:54.279 --> 01:14:54.840
of energy.

1488
01:14:55.319 --> 01:14:57.479
Everything needs energy. Humans need energy, they.

1489
01:14:57.479 --> 01:15:00.880
Do they do? Yeah, well that's right, different energy. But

1490
01:15:01.560 --> 01:15:04.119
you know, think think of the three the three biggies, right,

1491
01:15:04.199 --> 01:15:08.880
would be crypto mining, Bitcoin mining, uh would be one.

1492
01:15:09.399 --> 01:15:12.359
AI takes a lot of power, it takes a lot.

1493
01:15:12.520 --> 01:15:13.479
And electric cars.

1494
01:15:14.000 --> 01:15:17.920
No, the most biggest one is the data centers. What

1495
01:15:18.079 --> 01:15:23.279
data data centers, that's the biggest draw on our energy grid, right,

1496
01:15:23.319 --> 01:15:26.720
now also just you know the normal grid itself that

1497
01:15:26.760 --> 01:15:29.600
we all use for. But the data centers, from what

1498
01:15:29.680 --> 01:15:32.000
I saw with when I did my research on xl U,

1499
01:15:32.479 --> 01:15:36.199
that's the ETF for the utilities. Data centers is the

1500
01:15:36.239 --> 01:15:39.880
next big thing that we need. It's in line with

1501
01:15:39.960 --> 01:15:41.960
the AI. But the fact that you need to cool

1502
01:15:42.079 --> 01:15:45.359
these things down. I don't need to just give them power,

1503
01:15:45.399 --> 01:15:47.800
but you need to power the AC units that cool

1504
01:15:47.880 --> 01:15:48.680
these things down.

1505
01:15:49.159 --> 01:15:51.640
Right, in the last thirty years, our electric grid has

1506
01:15:51.720 --> 01:15:55.279
increased by fourfold, So we're we're working on it, right.

1507
01:15:55.239 --> 01:15:58.079
But how much as technology increased over.

1508
01:15:57.920 --> 01:16:02.560
The demands, the demands are are increasing rather dramatically. Constellation

1509
01:16:02.840 --> 01:16:06.479
Energy popped more than seven percent Friday to a new

1510
01:16:06.560 --> 01:16:10.039
all time high after the company said it will restart

1511
01:16:10.520 --> 01:16:14.159
the infamous Three Mile Island nuclear plant with the aim

1512
01:16:14.199 --> 01:16:17.079
of selling that part of Microsoft for its data center needs.

1513
01:16:17.359 --> 01:16:19.159
I think going to crank it up.

1514
01:16:19.119 --> 01:16:19.880
Baby Odds.

1515
01:16:20.199 --> 01:16:24.680
Nuclear is increasingly seen as a solution to our clean energy,

1516
01:16:24.920 --> 01:16:25.479
the solution.

1517
01:16:26.000 --> 01:16:29.800
But what it's been the solution been so scared of

1518
01:16:29.840 --> 01:16:31.600
it because of the Three Mile and all.

1519
01:16:31.600 --> 01:16:34.239
That, because of some issues, right, so it's kind of

1520
01:16:34.239 --> 01:16:36.720
become a pariah. But apparently we're waking up. They're going

1521
01:16:36.760 --> 01:16:39.960
to allow three Mile Island to restart, which is huge

1522
01:16:39.960 --> 01:16:42.640
because three Mile Island was kind of our Chernobyl.

1523
01:16:43.560 --> 01:16:46.680
Yeah, not even close, not even yeah, but we really

1524
01:16:46.720 --> 01:16:47.560
freaked out about it.

1525
01:16:47.560 --> 01:16:49.680
We did, we did, we did freak out about it.

1526
01:16:50.800 --> 01:16:53.560
The problem is the cost of building these nuclear power

1527
01:16:53.560 --> 01:16:57.640
plants is monumental, not to mention the regulatory hurdles. So

1528
01:16:58.039 --> 01:17:02.159
inter SMRs do you guys know what all modular react Oh,

1529
01:17:02.279 --> 01:17:06.600
good job, but they're about a third the size of

1530
01:17:06.640 --> 01:17:11.239
a traditional nuclear reactor. The goal is to produce them

1531
01:17:11.279 --> 01:17:14.600
in an assembly lined manner, almost like a prefab house.

1532
01:17:14.439 --> 01:17:16.680
Right, kind of like yeah, and this one uses fission

1533
01:17:16.800 --> 01:17:20.079
in fusion, and so that the idea also is the

1534
01:17:20.119 --> 01:17:23.920
reason that nuclear hasn't been where it should be right now,

1535
01:17:24.039 --> 01:17:27.439
especially globally, is because you can't set up a nuclear

1536
01:17:27.479 --> 01:17:30.600
plant in India, which apparently we did this. We set

1537
01:17:30.680 --> 01:17:32.640
up a nuclear plant in India, and then all of

1538
01:17:32.680 --> 01:17:35.680
a sudden they had nuclear weapons the next month, you know,

1539
01:17:36.279 --> 01:17:39.000
not that quick, but that next year they had nuclear weapons.

1540
01:17:39.000 --> 01:17:41.079
So that we realized, oh, yeah, they can reverse engineer

1541
01:17:41.119 --> 01:17:43.920
how this energy works and into weapons. So we're like Okay,

1542
01:17:43.920 --> 01:17:45.680
we're not going to do this to any other countries.

1543
01:17:45.720 --> 01:17:47.520
And that actually caused a lot of issues because then

1544
01:17:47.560 --> 01:17:49.800
India had a nuclear weapon and the other countries there

1545
01:17:49.800 --> 01:17:51.319
did it, and they're like, but we want a nuclear weapon.

1546
01:17:51.359 --> 01:17:53.079
India has it and they're like, yeah, but you're not

1547
01:17:53.119 --> 01:17:55.000
getting one, Like we don't want more countries of the

1548
01:17:55.039 --> 01:17:58.159
nuclear weapons caused a whole issue over there. Right, that's

1549
01:17:58.199 --> 01:18:01.279
why we haven't allowed a lot of other countries unless

1550
01:18:01.279 --> 01:18:04.479
they're really close to the G seven to get nuclear energy.

1551
01:18:04.800 --> 01:18:07.560
France is one of the leaders in nuclear power plants

1552
01:18:07.920 --> 01:18:12.279
for sure. China is unloading like five or six different projects.

1553
01:18:12.319 --> 01:18:15.760
The issue with these things nuclear fusion plants take like

1554
01:18:15.880 --> 01:18:18.159
five to ten years to create. It's not like I

1555
01:18:18.199 --> 01:18:19.920
can get them on the line tomorrow.

1556
01:18:19.520 --> 01:18:21.960
And they cost billions and that's a lot of money.

1557
01:18:22.000 --> 01:18:23.960
I mean, if you even have a country that is

1558
01:18:24.000 --> 01:18:26.840
like like China, we're gonna cut the tape for you.

1559
01:18:26.960 --> 01:18:28.720
Gets it boom boom boom, will get as fast as

1560
01:18:28.760 --> 01:18:31.520
we can get it out for you. No regulatory oversight, Right,

1561
01:18:31.600 --> 01:18:33.319
it doesn't matter. You're still it's like a five year,

1562
01:18:33.399 --> 01:18:35.640
seven year runway to get these things up. Where the

1563
01:18:35.680 --> 01:18:39.000
fission reactors. It's a little small like two to three

1564
01:18:39.039 --> 01:18:44.760
years potentially right less react regulatory oversight because the fission

1565
01:18:44.920 --> 01:18:47.560
isn't able to be reverse engineered into weapons as easily

1566
01:18:47.640 --> 01:18:52.720
as the fusion is. Nice, is it less safe? No,

1567
01:18:52.840 --> 01:18:57.319
same safety precaution. It's just again, you know, from an

1568
01:18:57.359 --> 01:18:59.640
intelligence point of view as a country, like if you're

1569
01:18:59.640 --> 01:19:02.640
the ci A, you know you don't want to have

1570
01:19:02.760 --> 01:19:05.520
countries who you don't want to have nuclear weapons, So

1571
01:19:05.560 --> 01:19:08.439
you didn't cut that nuclear energy there in the first place.

1572
01:19:08.920 --> 01:19:10.880
And that's why we had the whole w m D

1573
01:19:11.000 --> 01:19:14.600
debate with Iran back in the early two thousands, right,

1574
01:19:15.000 --> 01:19:17.199
and that whole thing where they had a nuclear energy

1575
01:19:17.239 --> 01:19:19.479
program and they were working on creating it into a

1576
01:19:19.840 --> 01:19:21.720
and we're like, we're not gonna let you get there

1577
01:19:22.159 --> 01:19:24.800
type of thing. So that's again the same type of thing,

1578
01:19:24.800 --> 01:19:27.159
and that's why we are behind the eight ball on

1579
01:19:27.319 --> 01:19:30.199
this nuclear power. But it is the thing that's going

1580
01:19:30.279 --> 01:19:32.319
to push us and give us the energy we need

1581
01:19:32.319 --> 01:19:33.119
for this new AI.

1582
01:19:33.359 --> 01:19:36.279
Hopefully we can get that to be a more acceptable

1583
01:19:36.359 --> 01:19:38.680
means of producing energy because it is the answer.

1584
01:19:38.800 --> 01:19:42.159
But luck you know, SMR is a ticker funny enough

1585
01:19:42.319 --> 01:19:43.479
of a company that does it.

1586
01:19:43.760 --> 01:19:48.359
Yes, yes of a company involved in the.

1587
01:19:48.640 --> 01:19:53.199
Yes, they had a great week. Another company is Oklow

1588
01:19:53.399 --> 01:19:56.119
ok l O. This is a company that's uh. One

1589
01:19:56.159 --> 01:20:01.640
of the founders is Sam the Altman, the guy who

1590
01:20:01.760 --> 01:20:05.840
runs chat GPT. Okay, he started this. Kathy Wood is

1591
01:20:05.840 --> 01:20:08.560
a big investor into Oaklow because he also he sees

1592
01:20:08.640 --> 01:20:11.680
the needs for these type of things. Sure, so Okolo SMR.

1593
01:20:11.760 --> 01:20:13.720
Those are the type of ones that are working on

1594
01:20:13.760 --> 01:20:16.600
these small module reactors that I've been following. Another company

1595
01:20:16.600 --> 01:20:19.600
that I've been following is VRT that's Veriative Holdings and

1596
01:20:19.640 --> 01:20:23.000
these is a company that specializes in the cooling technology

1597
01:20:23.439 --> 01:20:27.439
behind the AI chips. So apparently a lot of all

1598
01:20:27.479 --> 01:20:29.920
of what we do with AI chips right now is

1599
01:20:29.920 --> 01:20:33.399
we just make these really powerful AC units and just

1600
01:20:33.520 --> 01:20:36.800
bush you know, push air into those big like server

1601
01:20:38.520 --> 01:20:41.439
towers that you see like a big computer room. There

1602
01:20:41.439 --> 01:20:43.520
are a whole bunch of towers right up next. They're

1603
01:20:43.560 --> 01:20:45.640
just they're connected to the AC units. They're just pushing

1604
01:20:45.640 --> 01:20:48.159
cold air into as fast as it can. But eventually

1605
01:20:48.319 --> 01:20:51.079
that's that's not even enough. Right, So what they're now

1606
01:20:51.159 --> 01:20:55.239
do in this VRT company is liquid cooling. So They

1607
01:20:55.359 --> 01:20:59.079
specialize in creating those towers that run liquid cooling through

1608
01:20:59.119 --> 01:21:01.840
the towers to cool down each chip and it's more

1609
01:21:01.840 --> 01:21:03.720
efficient to cool it than.

1610
01:21:03.680 --> 01:21:05.680
Using they generate that kind of heat.

1611
01:21:05.960 --> 01:21:07.920
It generates a boatload of heat.

1612
01:21:08.000 --> 01:21:08.880
Yeah, it's just amazing.

1613
01:21:09.000 --> 01:21:11.359
Yeah, stucks up twenty four percent in the last month.

1614
01:21:11.479 --> 01:21:15.399
Yeah. Vr T is SMR no vr T VRT. Yeah,

1615
01:21:15.399 --> 01:21:17.439
I'm trying to think someone of one of our clients

1616
01:21:17.560 --> 01:21:19.039
was involved in vr T years ago.

1617
01:21:20.359 --> 01:21:23.439
Well, it's Variative holding. So they have other, you know, ventures,

1618
01:21:23.439 --> 01:21:26.560
which I'm sure maybe there was another fad. Probably this

1619
01:21:26.640 --> 01:21:29.239
is the one that they're you know, really trying to

1620
01:21:29.399 --> 01:21:33.279
push here. And another one is Generak Holdings. I saw

1621
01:21:33.279 --> 01:21:36.359
a report on Generak which is g n RC. Generak

1622
01:21:36.479 --> 01:21:39.800
is the sixty four percent market share of all generators

1623
01:21:40.079 --> 01:21:42.079
if you want to buy one for your home or

1624
01:21:42.159 --> 01:21:45.439
a backup generator right for and as the energy grid

1625
01:21:45.520 --> 01:21:49.319
gets increasingly used, the potential for black eyes bright now

1626
01:21:49.359 --> 01:21:52.800
it's increase, especially in some of these bigger cities. And

1627
01:21:52.840 --> 01:21:55.439
that's you know, also when around natural disasters, you see

1628
01:21:55.479 --> 01:21:58.640
these sales go up. So potentially that stock over the

1629
01:21:58.680 --> 01:22:02.520
next three four years has this energy grid we'll get

1630
01:22:02.600 --> 01:22:05.319
definitely used more and more potentially could see.

1631
01:22:05.439 --> 01:22:09.000
And a reminder that we're not recommending any of these names.

1632
01:22:09.640 --> 01:22:12.239
We don't know your investment objectives, we don't know your

1633
01:22:12.279 --> 01:22:14.520
risk tolerance, we don't know where you are in life.

1634
01:22:15.319 --> 01:22:17.520
If you listen to one of these names and get

1635
01:22:17.560 --> 01:22:19.840
in and do your research and decide it's for you,

1636
01:22:20.359 --> 01:22:23.720
that's up to you. We are not under any circumstance

1637
01:22:23.880 --> 01:22:29.399
recommending any specific security to anyone because we just don't

1638
01:22:29.439 --> 01:22:33.000
know your deal, right, and that's what the financial plan

1639
01:22:33.079 --> 01:22:33.560
is all about.

1640
01:22:33.640 --> 01:22:35.720
You know what's been killing is PayPal though.

1641
01:22:37.119 --> 01:22:38.079
I've put watching it.

1642
01:22:39.880 --> 01:22:44.680
This week for the month, let's just talk back to I.

1643
01:22:44.600 --> 01:22:46.399
Felt like it was in the low fifties and headed

1644
01:22:46.479 --> 01:22:46.920
to nothing.

1645
01:22:47.079 --> 01:22:50.039
Yeah, it's been doing, it's been.

1646
01:22:50.199 --> 01:22:52.600
They just they just released some great news with Amazon.

1647
01:22:52.600 --> 01:22:55.920
They're going to start they're going to integrate uh at

1648
01:22:55.960 --> 01:22:58.720
the checkout methods you know with Amazon for checking out

1649
01:22:58.720 --> 01:23:01.920
you're buying something now I can buy with PayPal. That's gonna,

1650
01:23:02.079 --> 01:23:03.399
you know, give them a big jump. I'm shure.

1651
01:23:03.399 --> 01:23:05.640
It reminds me about some news about Amazon and Intel

1652
01:23:05.680 --> 01:23:08.680
earlier in the week, where Intel was saying that well,

1653
01:23:08.720 --> 01:23:11.720
Amazon has specific chip designs that they were going to

1654
01:23:11.800 --> 01:23:15.279
give through Amazon Web Services to Intel, and this was

1655
01:23:15.319 --> 01:23:17.079
something that you know, not a lot you know, we'll

1656
01:23:17.119 --> 01:23:19.159
come back on the Oh, actually I got a lot

1657
01:23:19.199 --> 01:23:22.199
of people don't understand that when the video creates their chips,

1658
01:23:22.279 --> 01:23:24.840
they're not the ones manufacturing them, right. They send the

1659
01:23:24.880 --> 01:23:29.279
designs to Taiwan Semiconductor, which is TSM, and they create

1660
01:23:29.560 --> 01:23:33.560
the chip. Then in the foundry, the TSM cannot actually

1661
01:23:33.600 --> 01:23:36.199
create it by themselves. They don't know how to create

1662
01:23:36.239 --> 01:23:38.079
it unless n Video sends them the design. So it's

1663
01:23:38.079 --> 01:23:41.199
not like there's any like conflict of interest, like if

1664
01:23:41.239 --> 01:23:43.840
TSM ever tried to steal it wouldn't work, right, But

1665
01:23:43.960 --> 01:23:46.359
that's so there's a separation of duties. Intel the foundry

1666
01:23:46.399 --> 01:23:49.680
would make it. Amazon web Sers has the ability has

1667
01:23:49.720 --> 01:23:52.239
the design for the actual chip. So you have these

1668
01:23:52.279 --> 01:23:54.920
partnerships like Google and Oracle, they have designs for chips.

1669
01:23:54.920 --> 01:23:57.079
They're not gonna be the ones manufacturing them, but they

1670
01:23:57.159 --> 01:24:00.000
have designs. And that's the lucrative part of the video.

1671
01:24:00.039 --> 01:24:04.000
It's business the actual knowledge of how to create that particular.

1672
01:24:03.640 --> 01:24:07.159
Chintel was talking about creating a separate company for their foundry,

1673
01:24:07.479 --> 01:24:10.039
which would which would be maybe maybe moved the need

1674
01:24:10.079 --> 01:24:12.359
a little bit. Anyway, we'll be back right after this

1675
01:24:12.439 --> 01:24:14.880
break with the last segment of The Money Matter Show.

1676
01:24:15.920 --> 01:24:17.760
Welcome back to The Money Matter Show. My name is

1677
01:24:17.760 --> 01:24:20.960
Sebastian Borsen m Here with Todd Glick Junior and David Sherwood.

1678
01:24:21.479 --> 01:24:25.119
The Greenberger's have gone off to coach the Tucson Badgers

1679
01:24:25.119 --> 01:24:25.800
to another.

1680
01:24:25.600 --> 01:24:26.479
Victory, hopefully.

1681
01:24:26.479 --> 01:24:29.760
So I'm with you, with you you like part of

1682
01:24:29.840 --> 01:24:30.439
the team.

1683
01:24:30.279 --> 01:24:32.159
Right, It's a long drive out there. I got to

1684
01:24:32.159 --> 01:24:32.600
head out there.

1685
01:24:33.680 --> 01:24:36.640
You went to Sierra Vista yesterday for a freshman game.

1686
01:24:36.720 --> 01:24:39.760
Yeah, and we got we lost. I'll leave it at that.

1687
01:24:41.319 --> 01:24:45.520
It's it's amazing the time and effort and uh a

1688
01:24:45.560 --> 01:24:47.840
lot of time and effort that Dean has put into coaching,

1689
01:24:47.920 --> 01:24:51.039
and how much he cares about these kids and and

1690
01:24:51.159 --> 01:24:55.079
has done so much for so many of them. Great,

1691
01:24:55.359 --> 01:24:56.079
great example.

1692
01:24:56.319 --> 01:24:59.920
I got a head scratcher for you. Royal Caribbean Cruises

1693
01:25:00.079 --> 01:25:05.600
hits an all time high this week. Okay, Norwegian Cruise

1694
01:25:05.640 --> 01:25:08.560
Line and Carnival Corporation are not even close to their

1695
01:25:08.600 --> 01:25:10.800
pandemic highs pre pandemic highs.

1696
01:25:10.960 --> 01:25:11.960
Really I believe it.

1697
01:25:12.640 --> 01:25:14.960
Yeah, I guess because I will never take a cruise.

1698
01:25:15.000 --> 01:25:16.920
But what is so good about.

1699
01:25:16.760 --> 01:25:19.199
Wait wait, wait, wait, wait wait wait, why would you

1700
01:25:19.239 --> 01:25:20.239
never take a cruise?

1701
01:25:20.279 --> 01:25:21.520
I can't stand the boat.

1702
01:25:21.800 --> 01:25:25.840
You can't stand boats? Yeah? Really? Okay, a fair I'm

1703
01:25:25.880 --> 01:25:27.199
a runner, you know I don't need to be on

1704
01:25:27.239 --> 01:25:28.520
a boat.

1705
01:25:28.600 --> 01:25:32.039
Yeah, that sounds terrible. I will live on a track

1706
01:25:32.239 --> 01:25:34.560
for a for a week now, buddy, Oh thank you,

1707
01:25:34.640 --> 01:25:37.079
that's funny. But Royal cribby it makes no sense.

1708
01:25:37.119 --> 01:25:38.039
No, it makes no sense.

1709
01:25:38.359 --> 01:25:40.479
They're killing it, you know, all time highs. And then

1710
01:25:40.520 --> 01:25:42.840
you see on the other side Norwegian Cruise Eye in Carnival,

1711
01:25:43.520 --> 01:25:46.439
not even close to where they need to be. So

1712
01:25:46.760 --> 01:25:48.920
it is a little confusing. Thirty six percent year to

1713
01:25:49.000 --> 01:25:49.720
date for Royal.

1714
01:25:49.600 --> 01:25:51.800
Crew that is amazing. Wow.

1715
01:25:51.960 --> 01:25:52.840
Whatever guess that one.

1716
01:25:52.840 --> 01:25:55.000
No, I wouldn't have guessed that one either. And we

1717
01:25:55.039 --> 01:25:59.000
found a little moving into DJT this week. That's the

1718
01:25:59.039 --> 01:26:03.680
Trump media symbol DJT Donald J. Trump. The lock up

1719
01:26:03.720 --> 01:26:09.479
period that prevented early investors from selling shares expired Thursday afternoon.

1720
01:26:09.680 --> 01:26:11.359
How fast do you think Trump sells the shares?

1721
01:26:11.399 --> 01:26:13.159
He said he wouldn't sell any right, and actually he

1722
01:26:13.199 --> 01:26:15.399
said he wasn't a seller. That does not mean he

1723
01:26:15.399 --> 01:26:19.439
didn't sell any because get this, Trump owns fifty seven

1724
01:26:19.560 --> 01:26:25.960
percent of DJT valued at one point seven billion dollars,

1725
01:26:26.880 --> 01:26:30.359
which is more than fifty percent of his entire net worth.

1726
01:26:31.319 --> 01:26:36.560
What yes, wow, Wow, So if you you might want

1727
01:26:36.600 --> 01:26:38.359
to sell some if I was Yeah, if I were him,

1728
01:26:38.359 --> 01:26:40.520
if I have fifty percent of my entire net worth

1729
01:26:41.319 --> 01:26:43.039
tied up in something like that, I think I'd probably

1730
01:26:43.039 --> 01:26:43.640
sell a bunch of it.

1731
01:26:43.800 --> 01:26:46.399
Yes, I mean, I'm sorry. You might love Trump a

1732
01:26:46.600 --> 01:26:49.640
business not love I mean what there's no network effects.

1733
01:26:49.880 --> 01:26:53.399
Well, that particular stock is We've talked about it many times,

1734
01:26:53.439 --> 01:26:54.439
is worth maybe a dollar?

1735
01:26:54.479 --> 01:26:56.439
Yeah, because the business model behind there is no business.

1736
01:26:56.479 --> 01:26:58.640
There is no business more million dollars in revenue.

1737
01:26:58.640 --> 01:26:59.199
Even if you.

1738
01:26:59.159 --> 01:27:03.680
Get some advertise, it's going to be so niche. Yeah,

1739
01:27:03.840 --> 01:27:07.000
that you just don't have the access to the overall

1740
01:27:07.079 --> 01:27:10.119
market of advertisers that many social media platforms do.

1741
01:27:10.359 --> 01:27:14.760
But I bet you generac with advertise on there probably probably.

1742
01:27:14.800 --> 01:27:18.520
So whoever they're advertising person is a dj T. They Yeah,

1743
01:27:18.560 --> 01:27:20.239
they got their work cut out of for them.

1744
01:27:20.560 --> 01:27:24.399
We saw Lenar come out and and uh Lenard has

1745
01:27:24.439 --> 01:27:26.479
had a heck of a year, up sixty six percent

1746
01:27:26.479 --> 01:27:29.439
in the last months five percent lower at the open

1747
01:27:29.479 --> 01:27:32.800
on Friday, despite a solid quarter, and I'm wondering if

1748
01:27:32.800 --> 01:27:36.640
they're seeing the increase in existing home inventory that I'm seeing.

1749
01:27:36.960 --> 01:27:38.840
Well, it did come out that we did have an

1750
01:27:38.840 --> 01:27:42.479
increase in inventory on those on the economic reports this week,

1751
01:27:43.079 --> 01:27:46.680
so you did see that. It is quite fascinating that

1752
01:27:46.720 --> 01:27:48.359
if you look at the ITV, which is the new

1753
01:27:48.359 --> 01:27:51.720
home it's spiked to a new new, new all time

1754
01:27:51.800 --> 01:27:54.239
high this week. It went up to like one d

1755
01:27:54.359 --> 01:27:56.640
and thirty. It's back down to one twenty five, probably

1756
01:27:56.640 --> 01:28:00.119
because of Lenar, but yeah, I mean, KB Home, a

1757
01:28:00.720 --> 01:28:04.199
dr or and they all got upgrades by a couple

1758
01:28:04.239 --> 01:28:06.720
of different agencies because of the fact that you have

1759
01:28:06.800 --> 01:28:09.840
lowering rates. And potentially that's why maybe some of these

1760
01:28:09.840 --> 01:28:12.760
investors over the last six months have been anticipating that

1761
01:28:12.800 --> 01:28:15.239
we're finally gonna have lower rates. We've been at a

1762
01:28:15.319 --> 01:28:17.319
high of about seven point one on the thirty year.

1763
01:28:17.680 --> 01:28:19.800
Now we're down to a six point oh nine, so

1764
01:28:19.840 --> 01:28:23.800
that has definitely helped the home builders. There is an

1765
01:28:23.840 --> 01:28:27.279
increasing amount of inventory, which hurts the new home builders.

1766
01:28:27.359 --> 01:28:29.039
I have to believe that. You have to believe to

1767
01:28:29.079 --> 01:28:31.520
believe that I'm seeing it. I'm seeing that my client

1768
01:28:31.600 --> 01:28:34.680
that that had to sell for financial reasons put her

1769
01:28:34.680 --> 01:28:36.840
house on the market five to eighty back in June.

1770
01:28:36.880 --> 01:28:39.399
I've talked about this on the show. Went to five

1771
01:28:39.520 --> 01:28:42.279
sixty five, forty five twenty. Now she's four ninety five.

1772
01:28:43.199 --> 01:28:44.279
There hasn't been an offer.

1773
01:28:45.279 --> 01:28:47.960
Well, if interest rates continue to come down and I'm

1774
01:28:48.319 --> 01:28:49.600
going to a new home I'm trying to buy a

1775
01:28:49.600 --> 01:28:51.239
new house, Yes, it made sense to go to that

1776
01:28:51.279 --> 01:28:53.079
new homebuilder because they could buy down. I could buy

1777
01:28:53.119 --> 01:28:56.119
down my rate with them, right, but existing home sales

1778
01:28:56.439 --> 01:28:57.479
will that continue?

1779
01:28:57.560 --> 01:28:59.720
But the new home builder, his price is going to

1780
01:28:59.720 --> 01:29:02.359
be X, right, and that's the price. Whereas you go

1781
01:29:02.439 --> 01:29:04.600
into my gal who's trying to sell her home for

1782
01:29:04.680 --> 01:29:07.520
financial reasons, has gone from five to eighty to four

1783
01:29:07.600 --> 01:29:09.760
ninety five, you offer her four fifty. She might think

1784
01:29:09.760 --> 01:29:10.199
about it.

1785
01:29:12.520 --> 01:29:15.079
Yeah, you can make that case. But even the X

1786
01:29:15.199 --> 01:29:17.880
isn't the X because you're not getting that payment quite

1787
01:29:17.880 --> 01:29:21.880
because you're going to get some incentives even still on

1788
01:29:21.920 --> 01:29:25.640
your payment by buying down the rate. In some aspects,

1789
01:29:26.399 --> 01:29:31.039
I mean, I think the advantage they've had is certainly diminishing.

1790
01:29:31.560 --> 01:29:36.600
Right, That's what that's well put I agree with that. Yeah, yeah, again,

1791
01:29:36.840 --> 01:29:40.000
the newspaper company has gone the way of newspaper sales, right,

1792
01:29:40.079 --> 01:29:42.880
with the price dropping from twenty five dollars ten years

1793
01:29:42.920 --> 01:29:46.560
ago to three dollars. Recently, Tuesday City raised the stock

1794
01:29:46.640 --> 01:29:48.399
from sell to hold.

1795
01:29:48.439 --> 01:29:49.720
We're talking about newspaper companies.

1796
01:29:49.760 --> 01:29:53.000
So the company raise the stock, raise the stock. Oh,

1797
01:29:53.000 --> 01:29:55.560
they're saying you need to they're not. They had to

1798
01:29:55.600 --> 01:29:57.600
sell on it. They took the shell off. Now they've

1799
01:29:57.600 --> 01:30:00.000
got a hold and there they have a price target

1800
01:30:00.079 --> 01:30:03.279
ten percent high. The jump ten percent on that news, right,

1801
01:30:03.680 --> 01:30:07.239
analyst said. In the first half of twenty four, Gannett

1802
01:30:07.279 --> 01:30:11.399
made solid progress, showing the rate of top line declines

1803
01:30:11.720 --> 01:30:14.880
slowing the rate of top line I'm thinking, okay, so

1804
01:30:14.960 --> 01:30:20.880
the first half of twenty twenty four the diminishing sales slowed. Well,

1805
01:30:20.920 --> 01:30:21.359
that's good.

1806
01:30:21.960 --> 01:30:23.359
Yeah, I think let me paid a picture for you.

1807
01:30:23.520 --> 01:30:25.039
I'll take some of that and serious X.

1808
01:30:25.439 --> 01:30:27.720
The reason I think that business model is dead the

1809
01:30:27.720 --> 01:30:30.319
social media. Oh yeah, no, you see what X is

1810
01:30:30.399 --> 01:30:33.199
doing with And I have actually had this where I

1811
01:30:33.479 --> 01:30:35.279
see a good thread, I'm like, oh, I want to

1812
01:30:35.279 --> 01:30:35.880
go into it.

1813
01:30:35.960 --> 01:30:36.840
X formerly Twitter.

1814
01:30:37.800 --> 01:30:41.079
Yes, X. What you can do is pay for a

1815
01:30:41.119 --> 01:30:45.199
subscription for someone who is like a newsletter type of thing,

1816
01:30:45.560 --> 01:30:47.279
say it's six bucks a month. And then I was

1817
01:30:47.279 --> 01:30:50.479
thinking about it. Kim Kardashian, Christiano Ronaldo, some of the

1818
01:30:50.520 --> 01:30:54.800
biggest following accounts on Instagram. What if they said, Hey,

1819
01:30:54.880 --> 01:30:56.600
I'm going private, no one can view me unless you

1820
01:30:56.640 --> 01:30:59.399
pay me a dollar a month. How many people think

1821
01:30:59.439 --> 01:30:59.760
you do it?

1822
01:31:00.119 --> 01:31:02.720
Well, hey, you a lot, a lot, Probably a ton.

1823
01:31:02.800 --> 01:31:05.039
Millions of people would do that, I think so. And

1824
01:31:05.079 --> 01:31:08.720
then what if Meta Instagram's company says, yeah, we'll let

1825
01:31:08.800 --> 01:31:11.680
you do that, we just want twenty percent of that

1826
01:31:11.840 --> 01:31:14.720
free revenue, right, And so I don't think maybe we're

1827
01:31:14.720 --> 01:31:17.920
there quite you yet, but I mean that's eventually got

1828
01:31:17.920 --> 01:31:20.960
to come, right because you think about where we're subscribed

1829
01:31:20.960 --> 01:31:24.520
to a Wall Street Journal, right or Cosmopolitan or whatever

1830
01:31:24.560 --> 01:31:26.640
you are. Why do you need that? If you're on

1831
01:31:26.680 --> 01:31:29.479
social media all day, I get the same exact content.

1832
01:31:29.640 --> 01:31:31.560
I leave my house at five point thirty in the morning,

1833
01:31:31.640 --> 01:31:35.199
and there aren't so a lot most people aren't up yet, right,

1834
01:31:35.560 --> 01:31:38.199
And so I see who's getting newspapers and what newspapers

1835
01:31:38.239 --> 01:31:40.199
are getting, and I don't see a lot of newspapers

1836
01:31:40.239 --> 01:31:42.479
laying out there, right, You know, as I drive out,

1837
01:31:42.520 --> 01:31:46.960
I drive past ten pretty nice houses and I see

1838
01:31:46.960 --> 01:31:50.000
two and one of them are not my house. If

1839
01:31:50.039 --> 01:31:53.600
my wife insists on getting the newspaper and holding it

1840
01:31:53.640 --> 01:31:56.039
in her hand, you will not go on. I call it.

1841
01:31:56.039 --> 01:31:58.640
You know it costs one thousand bucks a year. Now, Wow,

1842
01:31:58.720 --> 01:32:00.640
did you have the newspaper to to your house.

1843
01:32:01.239 --> 01:32:04.359
It's ridiculous that that's not something that I'm purchasing.

1844
01:32:04.560 --> 01:32:05.319
Yeah, well, I.

1845
01:32:05.319 --> 01:32:08.000
Guess if you're gone from from tens of thousands of

1846
01:32:08.000 --> 01:32:11.159
people down to six, Yeah, it's gotta be a little

1847
01:32:11.159 --> 01:32:11.760
more expensive.

1848
01:32:12.880 --> 01:32:15.279
I could followed Kim Kardashian for a dollar a month.

1849
01:32:15.319 --> 01:32:16.920
That's twelve twelve dollars a year.

1850
01:32:17.479 --> 01:32:19.399
It would be nothing to you. But like it's not

1851
01:32:19.479 --> 01:32:20.800
to times millions.

1852
01:32:20.960 --> 01:32:22.520
Yeah, no, I get it exactly.

1853
01:32:22.680 --> 01:32:24.800
You get some some pretty heavy, hefty.

1854
01:32:24.840 --> 01:32:28.359
And they have like two hundred million followers. You get

1855
01:32:28.399 --> 01:32:30.119
one hundred million, even if you get half of them

1856
01:32:30.119 --> 01:32:32.840
to sign up. I mean, it's it's just the easiest

1857
01:32:32.880 --> 01:32:33.640
revenue in the world.

1858
01:32:33.800 --> 01:32:36.720
Last week we heard that Campbell Soup is going away

1859
01:32:37.600 --> 01:32:39.600
because they changing their name to the Campbell Company is

1860
01:32:39.640 --> 01:32:42.520
like a little trick, tricky try and tricky guys. This week.

1861
01:32:42.560 --> 01:32:44.680
I'm not trying to trick you. A Tupleware going away.

1862
01:32:45.119 --> 01:32:48.119
Seventy eight year old company. Seventy eight year old company

1863
01:32:49.119 --> 01:32:53.960
well for Chapter eleven bankruptcy, succumbing to mounting losses amid

1864
01:32:54.039 --> 01:32:58.720
poor demand for its one iconic food storage containers. Lost

1865
01:32:58.760 --> 01:33:02.640
out to cheaper, more eco friendly competition.

1866
01:33:03.039 --> 01:33:04.760
Lost the patent, never could come back from it.

1867
01:33:04.840 --> 01:33:08.800
Huh, Tupperware, It's amazing. Tepperware was the greatest thing ever.

1868
01:33:08.960 --> 01:33:11.520
Don't forget to purpot, right, and you guys have absolutely

1869
01:33:11.520 --> 01:33:12.399
no idea what to talk about.

1870
01:33:14.000 --> 01:33:15.760
Don't forget to what purpot?

1871
01:33:16.119 --> 01:33:18.000
Yeah, you put the templeware on and then you go,

1872
01:33:18.159 --> 01:33:20.079
you push down in the middle and then get let

1873
01:33:20.079 --> 01:33:23.239
a little air out, right, purpot. That would make it

1874
01:33:23.319 --> 01:33:26.479
the food is keep it longer. I don't know how

1875
01:33:26.520 --> 01:33:28.520
I could have lived without Tepperware growing up. It would

1876
01:33:28.520 --> 01:33:30.199
have been been pretty darned.

1877
01:33:30.720 --> 01:33:32.560
Like a little bit or something.

1878
01:33:32.760 --> 01:33:35.439
Pardon me, how about those Hessibal blood pagers? Right? Don't

1879
01:33:35.439 --> 01:33:39.039
mess with Israel? Was that crazy? I mean I got

1880
01:33:39.119 --> 01:33:42.319
very little news media, right, I got very little news coverage.

1881
01:33:42.640 --> 01:33:48.119
You know Hasibal leadership. You wonder why no, what did

1882
01:33:48.159 --> 01:33:50.199
you say? Anyway? If you if you don't know what's

1883
01:33:50.239 --> 01:33:53.119
going on. Google has blood pagers. It's a pretty interesting

1884
01:33:53.199 --> 01:33:55.880
story and and why you don't want to mess with

1885
01:33:55.920 --> 01:34:01.039
the Israeli So I just I think wow. US Steel

1886
01:34:01.119 --> 01:34:03.439
up three percent at the open on Wednesday after Reuters

1887
01:34:03.479 --> 01:34:07.159
reported the Committee on Foreign Investment in the United States

1888
01:34:07.199 --> 01:34:11.199
granted a request to push back a review of nip

1889
01:34:11.239 --> 01:34:15.479
On Steels bid for the company. So they had denied

1890
01:34:15.520 --> 01:34:19.880
it and now they're now they're reviewing it and they're

1891
01:34:19.920 --> 01:34:22.119
delayed the review. So I guess they didn't they didn't

1892
01:34:22.159 --> 01:34:25.920
say no, So you you know, jumped up a little

1893
01:34:25.920 --> 01:34:26.600
bit on that news.

1894
01:34:27.439 --> 01:34:30.000
You know, we're big, we're big sports guys here, huge

1895
01:34:30.039 --> 01:34:32.520
four guys. We're a couple of weeks into the NFL.

1896
01:34:32.600 --> 01:34:34.880
We start to get to understand what's going on with

1897
01:34:35.000 --> 01:34:37.079
everything with basketball is a month away.

1898
01:34:36.880 --> 01:34:38.720
Two teams playing with women's presidents.

1899
01:34:39.119 --> 01:34:41.319
We got women's presidence this year, which is you know, yeah,

1900
01:34:41.880 --> 01:34:44.800
I'm just really excited for everything. DraftKings, you know, uh

1901
01:34:45.239 --> 01:34:48.359
didn't have too much of a big week, you know,

1902
01:34:48.399 --> 01:34:50.399
only up a percent on the week, but that's got

1903
01:34:50.399 --> 01:34:52.319
to be one that's going to be interesting to watch,

1904
01:34:52.560 --> 01:34:53.279
as you know.

1905
01:34:53.399 --> 01:34:55.319
Now you guys keep saying that because we're gonna have

1906
01:34:55.359 --> 01:34:57.199
the Olympics and we're gonna have the baseball at the

1907
01:34:57.199 --> 01:34:59.680
same time as football, we're gonna have what's the stock

1908
01:34:59.760 --> 01:35:01.520
been doing over the last couple of months?

1909
01:35:01.800 --> 01:35:04.239
I do know him much? And the earnings is forty

1910
01:35:04.279 --> 01:35:06.359
two days away, So you feel like you have pretty

1911
01:35:06.439 --> 01:35:07.880
much everything baked into that pot.

1912
01:35:08.600 --> 01:35:09.600
I should it seems a dread.

1913
01:35:09.640 --> 01:35:11.199
I'm wondering what that they come out to be.

1914
01:35:11.880 --> 01:35:13.960
I just I you know, I couldn't tell you having

1915
01:35:14.000 --> 01:35:16.800
done this as long as I've done this. We've got

1916
01:35:16.840 --> 01:35:19.359
a market here that's just been on fire. It's been

1917
01:35:19.479 --> 01:35:22.640
going up day after day, month after month. I mean,

1918
01:35:22.840 --> 01:35:24.800
if September were to close hire, I think it would

1919
01:35:24.840 --> 01:35:27.720
be the eleventh month higher out of twelve, or some

1920
01:35:27.960 --> 01:35:30.119
silly things like that. I mean, you don't see these

1921
01:35:30.199 --> 01:35:32.119
kinds of periods very often. And if you own a

1922
01:35:32.119 --> 01:35:38.000
stock that's laying dead like Walgreens or falling apart, you

1923
01:35:38.079 --> 01:35:41.279
might want to consider changing horses. There are other investments

1924
01:35:41.359 --> 01:35:45.600
out there, nobody cares. Nobody's going to know but you.

1925
01:35:46.000 --> 01:35:48.399
But if it's not working out, what in Heaven's name

1926
01:35:48.479 --> 01:35:51.159
is going to make it work? Because here at Greenberg Financial.

1927
01:35:51.720 --> 01:35:55.079
We want to be healthy and we want to be happy,

1928
01:35:55.079 --> 01:35:56.520
and I kind of reverse those because I always like

1929
01:35:56.560 --> 01:35:58.199
to say, we won't be happy if you're not healthy,

1930
01:35:58.680 --> 01:36:02.279
but we also want to be right and all. See

1931
01:36:02.279 --> 01:36:02.840
you next week.