Oct. 6, 2024

Market Movers & Medicare: What You Need to Know Now

Market Movers & Medicare: What You Need to Know Now

In this episode of Money Matters, brought to you by Greenberg Financial Group, we cover everything you need to know to stay ahead in the financial world. We dive into the latest market updates, from the start and end of the port strikes to insights...

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In this episode of Money Matters, brought to you by Greenberg Financial Group, we cover everything you need to know to stay ahead in the financial world. We dive into the latest market updates, from the start and end of the port strikes to insights from the Vice Presidential debate. Plus, we review September’s performance numbers and how they could impact your portfolio.
Special guest Pat Quigley from the Q&A Group joins us to discuss important changes to Medicare plans in light of the Inflation Reduction Act. With open enrollment just around the corner, you won’t want to miss Pat's expert advice on how these cost changes may affect you.
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, Welcome to the Money Matters Show. No, this

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is not being Greenberg. Dean is traveling with his son Dylan.

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One of the things about a family company is when

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one's gone, sometimes more than one are gone. But I'm

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here with the Bashyboard Senior. I'm here with Todd Clig Junior,

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and we were just talking about what an interesting week

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in the market and how we had more information than

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we can possibly fit into this show. And in addition

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to that, we have a guest coming in a little

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bit later in the show to talk about Medicare, and

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we are nearing that window. I think it's December, October

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fifteenth to the end of December something like that. Don't

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about right time, that's about right, yeah, or you can

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make changes in your Medicare plan. I think you know

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the big headline of the week for those of us

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here in Tucson, how about Tuesday one oh five, hottest

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October day in history?

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That was the biggest headline?

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Yeah it is. And and to get that, get this,

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today is going to be one hundred and five again,

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so twice and one hundred and three was the previous

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all time October high. That's nothing. Just to throw that

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one out and the big economic news of the week

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was turned out to not be that big of a deal,

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thank god, is the dock workers strike. Dock workers strike

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could have really, really been a problem. Fortunately the impact

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should be minimal as thankfully it only lasted three days.

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It involved thirty six ports that were impacted, about fifty

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percent of all the goods coming into the United States.

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It was East Coast and Gulf Coast, nothing on the

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West Coast. First strike by this particular union since nineteen

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seventy seven. One of the most immediate impacts, interestingly was

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the weight loss drugs, the GLP ones they come from Europe.

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Was really that was one of the things that they

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were the most concerned about. Right off the top, Union

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chief Daggett said he wanted to cripple the country, but

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apparently he changed his mind after report's surface that he

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lives in a seven thousand square foot house on ten

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acres integer with a four car garage and a Bentley

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in the driveway. Apparently when the media got winto that,

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the strike settled pretty quickly, settled down pretty quick. Yeah,

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let's say, Okay, we can talk a lot of crap,

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but don't talk about me.

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Right, LP stocks got hammered.

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Yeah, they did get hammered. Although I was looking at Lily,

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Lily was down. Lily's probably one hundred points off of

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the high. Now it's still one hundred and forty bucks

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above where it was two months ago.

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Well, they actually had some good news come out this week.

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I forgot exactly what it said. But their supply is better, right,

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that's not good news. Well, yeah, you're right, because what

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does that mean? It's less demand?

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Right, Yeah, that's not good news. So what actually happened

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is the FDA came out I think it was on Wednesday,

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and you kind of you kind of jumped out of

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me here. I had a note on that sor and

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said that it was no longer a critical supply issue. Right,

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when it's a critical supply issue, then compounding pharmacies can

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come in and help fill that gap, and hyms and

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Hers is one of those. And on the news that

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they no longer have a shortage, Hymns and Hers took

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a ten percent hit. And there's only two reasons you

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wouldn't have a shortage, because you have finally produced enough

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supply to meet demand, or did demand dropping.

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And maybe just enough people are entering the game, right,

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A lot of companies out there, hyms and hers. You

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got Novo, you got Eli, Lilly, you got all these

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compound pharmacies that are able to enter the game, and

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that decreases company's margins. I'm pretty sure Nova is training

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out one hundred and forty dollars to share about a month.

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Ago creating all these one off, one off scenarios. You're

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absolutely right, But Lily and Noble both under some pressure

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this week based upon that, and like I said, like

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you said, spashion, I looked at that and I wasn't

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sure whether that was good news or bad news. So

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you want to give us a disclaimer before we get

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too deep into this.

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Yeah, let's do it. The show is sponsored by the

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Greenberg Financial Group and you can listen on seven to

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ninety KNSC or iHeartRadio. The show discusses different investment products

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and strategies. Every product and strategy have some type of

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inherent risks, and we strongly encourage our listeners to properly

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understand the risks to determine whether to buy, sell, or hold.

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The show has been on air for over thirty years.

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The Greenberg Financial Group is registered with the SEC and

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a member of FENERA and CIPIK. Visit our website at

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Greenberg Financial dot com for some more information. If you

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ever have any questions, please give us an email, shoot

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us a call. You could email us at contact at

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Greenberg Financial dot com. Write us an email, We'll call

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us at five two zero five four four four nine

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zero nine. We'll answer your questions on air and.

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You will actually talk to a human being. It will

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it won't be a recording, and thank you. That was

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a good job. Before we went into that, we were

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talking about the GLP one, the weight loss drugs. Eli

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Lilly stock is fifty four times earnings jeez price fifty

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four times future earnings, which is five times the price

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of any other drug company, five times so much so

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there is just flat no room for error, there no,

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there just is no room.

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For error, no room for error. And you need to

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come out with that Alzheimer's drug or something something.

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And they've got an Alzheimer's drug in the pipeline that

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they're really not talking much about, but they're really excited

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about it.

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We zoom back out to the broader market. What we

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saw this week with the Dow up point one percent,

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s and p up point two as that got point

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one Russell only down a half percent, and the equal

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weight to down point twenty base points. Pretty flat. Not

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much movement on the week and for the month not

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much movie.

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No, it's interesting. It was really two days. Tuesday the

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market got hammered a percent, and on Friday it came

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back up percent. On Tuesday got hammered because of the

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Iranian attack on Israel and concern of what that would

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what Israel was going to do. There was talk that

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they would go and knock out some of Iran's oil infrastructure.

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Oil was up ten percent this week. Yeah, week ten percent.

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Had the biggest gain on Thursday in over a year. Yeah, yeah,

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I think it's the biggest one week gain in a

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couple of years. Right. The amazing Again, if you take

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and if you take Iran oil, Iran's oil completely off

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the map, the US and Saudi Arabia could easily fill

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it in, fill in that gap. So it it kind

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of leaves just scratching your head.

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But you also saw some opec quotas where countries aren't

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quite happy with their quotas and so they're over that.

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That might have something to do with some of the

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oil pricing maybe not just you know, the excuse is

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the war obviously why the oil is increasing. But I've

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seen some interesting like countries are getting mad about their

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quotas because Opek you know, sets those quotas first.

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Yeah, they're but the violating of the quotas would mean

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more supply than they want, you would mean prices would

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be going down. Right, So that this this ten percent

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pop up is a mystery unless.

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I think the ports in the wars, I mean, that's

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not good for future inflation numbers.

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And maybe something we haven't really even talked about was

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the more stimulus in China, and China being the number

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two consumer of oil in the world, Yeah, and they've

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been in they've been in the dumper, and now well

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maybe with this additional stimulus, we saw Chinese stocks pop

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to twelve ties Ali Baba, I think is the highest

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in a couple of years.

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Well, something we'd also don't talk about is, you know,

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as far as I'm aware, there hasn't been too much

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resolution that's happened in the I think it was like

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the Red Sea where those the shipping containers were having

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to redirect themselves because of the drones. And obviously that

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leads to extra oil prices that you need. Let alone

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the fact that truckers were having to redirect their ports

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to different ports because they were closed due to the

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strike for a couple of days, so that those extra

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trip increased mileage, and that obviously puts more demand on

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that sector.

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It'd interesting to see if once if Israel does retaliate

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against Iran, and if it doesn't involve oil, then I

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would suspect oil prices would come down pretty quickly.

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Yeah. I mean oil is on a tear right now,

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so and if that continues to increase, that will lead

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to CPI inflation not coming lower, which kind of puts

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a halt on the Fed's plans to keep cutting rates.

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So oil higher could put a big wrench into these things.

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On the other side of that, it also means higher

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interest rates, which we had saw the mortgage rate jump

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back to six and a half percent. I thank you

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said it was six point one last week. Yeah, so

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back to six and a half percent, which is the

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highest level in a couple of months.

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It was a big, big increase.

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Big jump interest It's funny interest rates since the day

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the Federal Reserve cut rates by fifty basis point, rates

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have been up, moved up nearly every single day.

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Yeah, and al on Friday moved up big with the

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non farm payrolls coming out. I mean, I haven't seen

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rates up that big in a while because it's all

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it's been is going down over the last several months.

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So it I mean even I think the ten year

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was up five percent at one point. It was a

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pretty big increase.

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Absolutely, And that Job's reports said a couple of things.

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Just said, one, the economy's going to be okay, it's

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doing fun. Number two, imminent recession probably isn't going to happen.

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But number three something that nobody's talking too much about.

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It dramatically decreases the default risk, which is one of

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the risks. And that's one of the reasons why the

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Russell two thousand underperformed for the week and the month,

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is this concerned about defaults. And that's the credit markets

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are something you want to watch very very closely, because

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the credit markets are like a canary in the coal mine.

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You'll see problems in the credit markets before you see

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problems overall. And that jobs report stabilize the credit markets

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and tell us, hey don't really have a problem.

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Yeah, and credit markets for those that don't really know

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what that is, it's it's kind of pretty much what

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a bond market is. When a company needs to get money,

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where do they go? And if the credit market isn't

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working the way it's supposed to, it's harder and harder

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for a company to get money, uh, to continue their operations.

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And obviously when people have to fire people instead of

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getting money to keep people on, that that leads to

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other things throughout the economy.

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I think the one word I would use to describe

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the market is resilient. Oh yeah, I mean, it just

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it just doesn't care. It's had, it's had a number

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of opportunities to sell off pretty significantly, and it simply

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has not done that.

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You got a big red candle on Friday morning, and

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I thought that was gonna, you know, keep going.

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Looks like it.

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Going back to that China stimulus. China stimulus has led

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to the resilience of our market as well, because if

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you are an investor in China or a big bank

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in China that got a whole bunch of money, what

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are you doing. You're not just buying Chinese stocks, You're

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diversifying into American equities. And so that's obviously is that

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a little bit of liquidity has helped, and we should

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see some increased liquidity off that fed cut coming in

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the next couple of months. So with many central banks

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going into rate cutting cycles, there seems to be an

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increasing amount of liquidity that is going to be entering

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the system.

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Talking about some of those China numbers, I mean Shanghai

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last month, Shanghai Stock Composite Index is up twenty percent

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last month.

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In the last month, last five days.

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It's up twenty point four to two percent.

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And we're up twenty percent. We're having a heck of

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a good year, and we're up twenty percent for the year.

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You look at some Chinese companies. You look at Ali Baba, right,

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00:10:59.759 --> 00:11:02.320
it's up thirty eight percent in the last month. In

235
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the last six month, it's up sixty percent. And I

236
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kind of I was kind of doing a little bit

237
00:11:07.440 --> 00:11:10.039
of research into these Chinese markets. I wanted to see

238
00:11:10.039 --> 00:11:14.480
what was happening over there. I believe it was Tuesday nights,

239
00:11:14.480 --> 00:11:17.440
and I looked up the futures of the Chinese markets

240
00:11:17.960 --> 00:11:20.320
and I saw that it wasn't trading right, and I

241
00:11:20.519 --> 00:11:25.159
wondered I questioned, why so these China Shanghai Stock Index

242
00:11:25.240 --> 00:11:27.480
takes about a week off of a holiday break, a

243
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whole week, a whole week, right, So then it's it

244
00:11:29.759 --> 00:11:32.960
brought me to question, how is Ali Baba and PDD,

245
00:11:33.279 --> 00:11:35.720
these Chinese companies, how are they still in an absolute

246
00:11:35.799 --> 00:11:40.159
tear because they are ADR's American Depository receipts. For anybody

247
00:11:40.159 --> 00:11:42.200
that doesn't know what an ADR is, essentially just a

248
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financial instrument that allows a US investor to buy shares

249
00:11:45.360 --> 00:11:48.799
in a foreign company. So again, if the Chinese if

250
00:11:49.120 --> 00:11:52.600
Shanghai index is closed, how is Ali Baba still trading?

251
00:11:52.639 --> 00:11:56.360
How is PDD still trading? Well, it's there's a supply

252
00:11:56.399 --> 00:11:59.919
and demand there, right, there's only a specific amount of

253
00:12:00.159 --> 00:12:03.159
or limited amounts of ad rs for Ali Baba. And

254
00:12:03.200 --> 00:12:05.440
when they when investors start to see that China's just

255
00:12:05.519 --> 00:12:07.559
absolutely on tear, they're going to take that thing up.

256
00:12:08.080 --> 00:12:13.000
Yeah, I know. September, you know, September, typically a problematic

257
00:12:13.039 --> 00:12:15.879
month for stocks, finished with a two percent gain. It's

258
00:12:15.919 --> 00:12:20.279
the first positive September in five years, five years. Two

259
00:12:20.320 --> 00:12:22.480
percent gain, that's pretty good. Guess what it was the

260
00:12:22.559 --> 00:12:25.960
third worst month this year? Yeah, two percent gain? If

261
00:12:26.000 --> 00:12:27.879
the third worst month this year.

262
00:12:28.279 --> 00:12:30.600
Didn't quite get to that fifty eight hundred target, but

263
00:12:31.080 --> 00:12:33.200
it was fifty seven to sixty seven was the top.

264
00:12:33.480 --> 00:12:35.600
Yeah, yeah, I get them close. I'm giving you credit.

265
00:12:36.000 --> 00:12:39.320
It's a good, good technical call call. Absolutely. You know

266
00:12:39.399 --> 00:12:42.919
that one thing that really helps with this Israel Iran

267
00:12:43.000 --> 00:12:46.039
thing is Rathee on another new all time high.

268
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They're killing it.

269
00:12:47.200 --> 00:12:50.240
Iron Dome held and guess what we need more product?

270
00:12:50.600 --> 00:12:54.200
Yeah, now we need more missiles filling the ones that

271
00:12:54.200 --> 00:12:54.840
we just shot off.

272
00:12:54.919 --> 00:13:00.279
You ever wonder why Iran keeps launching these seemingly rubber bullets.

273
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That game theory.

274
00:13:01.639 --> 00:13:04.480
I mean, you just kind of wonder You've got to

275
00:13:04.480 --> 00:13:07.159
do something right? But I wonder might it be financial?

276
00:13:07.240 --> 00:13:11.000
Get this, It cost I Ran roughly two hundred million

277
00:13:11.080 --> 00:13:15.639
dollars to send those two hundred missiles to Israel, But

278
00:13:15.720 --> 00:13:20.480
it cost Israel five hundred and fifty million dollars to

279
00:13:20.559 --> 00:13:23.960
defend themselves, two hundred million to shoot the missiles, five

280
00:13:24.039 --> 00:13:28.080
hundred and fifty to defend themselves. Why defensive missiles are

281
00:13:28.159 --> 00:13:33.559
by design much more sophisticated and much more expensive. Raytheon's

282
00:13:33.559 --> 00:13:36.559
business looks pretty good to me, right. You know, Israel

283
00:13:36.600 --> 00:13:38.639
has been a country since nineteen forty eight, which is

284
00:13:38.639 --> 00:13:40.559
about how long this has been going on in some

285
00:13:40.600 --> 00:13:43.840
form or other, seventy six years. And I thought to myself,

286
00:13:44.080 --> 00:13:46.200
how do you hang on to hate for that long?

287
00:13:47.240 --> 00:13:48.720
You know, just how do you hang on to hate

288
00:13:48.759 --> 00:13:51.799
for seventy six years? Yeah, I mean, it just blows me.

289
00:13:51.799 --> 00:13:55.240
A conversation later, Yeah, I know, there's plenty of societies

290
00:13:55.240 --> 00:13:55.840
that have done that.

291
00:13:56.039 --> 00:13:58.120
Yeah. No, you're right. You're right again, it goes on

292
00:13:58.200 --> 00:14:00.519
for centuries. I know, I did it. I get it.

293
00:14:01.000 --> 00:14:05.879
I have fields of McCoys, right. You know. One thing

294
00:14:05.919 --> 00:14:09.639
we talk about is we've been cautious coming into September

295
00:14:09.679 --> 00:14:16.960
and October. Market valuation is high. We're just being cautious China.

296
00:14:17.240 --> 00:14:20.559
We don't chase China. We don't believe there's no transparency

297
00:14:20.600 --> 00:14:22.639
in their stocks. You don't know what's really going on.

298
00:14:23.039 --> 00:14:27.120
It's difficult to make an intelligent decision. I looked into

299
00:14:27.240 --> 00:14:31.279
valuation metrics and the pe based upon twenty twenty four

300
00:14:31.679 --> 00:14:35.240
earnings for share. Okay, I'm sorry, twenty twenty five earnies

301
00:14:35.279 --> 00:14:38.840
for share is twenty three point six. That's the highest

302
00:14:38.960 --> 00:14:42.480
it's been in more than twenty years. So the valuation

303
00:14:42.639 --> 00:14:45.559
of stocks right now is the highest it's been in

304
00:14:45.600 --> 00:14:49.279
over twenty years, and twenty percent above where the average

305
00:14:49.639 --> 00:14:52.639
twenty percent above the average of the last twenty years.

306
00:14:53.240 --> 00:14:55.840
That's our cautious stance. Now you say, well, does AI

307
00:14:56.080 --> 00:14:59.039
change those rules? You know, you could make a case

308
00:14:59.559 --> 00:15:02.480
that that we are we're in kind of a special time.

309
00:15:03.559 --> 00:15:05.600
It was like it could in the late nineties. There's

310
00:15:05.600 --> 00:15:07.639
a special time with the internet kind of come into

311
00:15:07.679 --> 00:15:08.320
fruidation with.

312
00:15:08.279 --> 00:15:11.200
The Industrial revolution. If you saw stocks before that time

313
00:15:11.240 --> 00:15:13.639
in the eighteen hundreds, they look a lot different than

314
00:15:13.639 --> 00:15:16.159
in the early nineteen hundreds, in the Roaring twenties and

315
00:15:16.240 --> 00:15:19.320
what happened there. So when you go through structural changes

316
00:15:19.360 --> 00:15:22.080
in the economy, it can change the rules for sure.

317
00:15:22.519 --> 00:15:25.559
Absolutely, And I think that's what I think. It makes

318
00:15:25.600 --> 00:15:28.240
sense just from someone who's done this for a couple

319
00:15:28.200 --> 00:15:32.840
of decades or a few decades, the came maybe this

320
00:15:32.919 --> 00:15:35.399
is the time to be cautious. I mean, if you're invested,

321
00:15:35.679 --> 00:15:39.000
stay invested. If you're fifty percent invested, you say, well,

322
00:15:39.000 --> 00:15:40.840
bring it back to forty five. But you know, if

323
00:15:40.879 --> 00:15:43.320
you're fifty percent invested and you're comfortable there and you're

324
00:15:43.360 --> 00:15:47.840
sleepy nights and that's fine. But what I would spend

325
00:15:47.840 --> 00:15:50.919
this time doing is looking at stocks that you really

326
00:15:51.000 --> 00:15:53.240
really really want to own, whether it be en Video

327
00:15:53.440 --> 00:15:57.600
or Lily or Costco or whatever xyz you name. It

328
00:15:57.639 --> 00:16:00.399
would not recommending ay Ney of those stocks on some

329
00:16:00.519 --> 00:16:05.000
names there. Get your list together and to ask yourself,

330
00:16:05.480 --> 00:16:07.960
what price are you a buyer? Boy? If that stock

331
00:16:08.080 --> 00:16:11.240
ever got down to this, I'm a buyer, right, make

332
00:16:11.279 --> 00:16:13.159
that list, write that list out.

333
00:16:13.159 --> 00:16:15.000
And if it's a big list, make sure you have

334
00:16:15.120 --> 00:16:16.879
cash on the sidelines ready to go.

335
00:16:17.200 --> 00:16:17.639
Yeah.

336
00:16:17.679 --> 00:16:20.639
And so it depends on how attractive you are to

337
00:16:20.759 --> 00:16:23.720
your current portfolio. But if you're thinking that, yeah, something's

338
00:16:23.759 --> 00:16:26.519
going on the horizon that's going to be bad, well

339
00:16:26.600 --> 00:16:29.000
you're not. You shouldn't sell everything because you could be wrong,

340
00:16:29.080 --> 00:16:31.200
but maybe you do take a portion off the table,

341
00:16:31.279 --> 00:16:33.480
put it on the sidelines, and then get your game

342
00:16:33.519 --> 00:16:36.759
plan ready to go, and when the game starts, execute it.

343
00:16:37.000 --> 00:16:38.240
Yeah. You can get four and a half four and

344
00:16:38.320 --> 00:16:43.519
three quarters in a money market fund right now, down

345
00:16:43.559 --> 00:16:45.960
from what five and a quarter for most of the

346
00:16:46.039 --> 00:16:49.120
last year, and you can sit there. You can buy

347
00:16:49.159 --> 00:16:54.200
yourself in short term treasuries and if the opportunity presents itself.

348
00:16:54.240 --> 00:16:56.759
You know that that will cause interest rates to drop.

349
00:16:56.799 --> 00:17:00.440
If let's say we have some type of event that

350
00:17:00.519 --> 00:17:03.320
negatively impacts the market, right, and the market goes down

351
00:17:03.519 --> 00:17:06.279
five percent, you know, with a five percent drop in

352
00:17:06.319 --> 00:17:09.160
the market that there's a very very high probability that

353
00:17:09.319 --> 00:17:12.279
interest rates will have come down too, which means the

354
00:17:12.400 --> 00:17:15.759
value of your bonds will have gone up. You can

355
00:17:15.799 --> 00:17:18.160
sell those and buy this stock you want to buy.

356
00:17:18.400 --> 00:17:20.359
Yeah, speaking of bonds, I mean, bonds have had the

357
00:17:20.440 --> 00:17:23.480
best year, well, the best five month gain that they've

358
00:17:23.519 --> 00:17:26.559
had since nineteen ninety five. In the last five months,

359
00:17:26.559 --> 00:17:30.079
what we've seen interest rates just continue nineteen ninety five, Yeah,

360
00:17:30.079 --> 00:17:32.359
the biggest five month gain for the US bond market.

361
00:17:32.440 --> 00:17:35.680
It rallied over eight percent the last five months. Wow,

362
00:17:35.720 --> 00:17:39.440
it's done very very well. Obviously, bonds worst work inversely

363
00:17:39.480 --> 00:17:42.680
to interest rates, and strates go down, bond prices go up,

364
00:17:43.160 --> 00:17:45.160
and so as the rates have come down from their highs,

365
00:17:45.160 --> 00:17:48.559
it's actually really helped bonds, which is very opposite of

366
00:17:48.599 --> 00:17:50.559
what we talked on the show for a while about

367
00:17:50.559 --> 00:17:52.920
what we saw in twenty two into early twenty three.

368
00:17:53.079 --> 00:17:56.480
I'm a little surprised that it is better than nine

369
00:17:57.400 --> 00:18:02.559
on nine was phenomenal for bonds. Nine bonds nearly performed

370
00:18:02.559 --> 00:18:04.839
as well as stocks, and facts had a good year.

371
00:18:05.200 --> 00:18:07.200
Yeah that that year it was about seven.

372
00:18:06.960 --> 00:18:09.839
Point seven point two for the whole year. Yeah, well

373
00:18:09.920 --> 00:18:14.119
the five months month period. Yeah, yeah, because maybe I

374
00:18:14.160 --> 00:18:16.200
don't know. You know, there's hardly a day goes by,

375
00:18:16.200 --> 00:18:18.240
and I'm sure you guys feel are the same. Hardly

376
00:18:18.279 --> 00:18:20.799
a day goes by without someone asking me who's gonna

377
00:18:20.799 --> 00:18:22.160
win the presidential election?

378
00:18:22.319 --> 00:18:24.160
Every single day, every once again.

379
00:18:25.200 --> 00:18:28.599
Like somebody knows, right, Like it was interesting though, I

380
00:18:28.599 --> 00:18:31.400
always you always say, follow the money. And then there

381
00:18:31.440 --> 00:18:36.119
are places where you can actually place wagers. Now in

382
00:18:36.160 --> 00:18:38.960
the United States you can now place wagers on congressional elections,

383
00:18:38.960 --> 00:18:44.119
but presidential election overseas and I'm sorry, offshore and uh

384
00:18:44.160 --> 00:18:46.759
and in Europe you can place wagers. So I went

385
00:18:46.839 --> 00:18:49.480
to those boards to see what the odds were, and

386
00:18:49.720 --> 00:18:55.279
U Prior to the vice presidential debate, Harris had a

387
00:18:55.319 --> 00:18:58.640
slight edge over Trump. People were putting more money on

388
00:18:58.680 --> 00:19:03.799
Harris than up. Interestingly, after the vice presidential debate that

389
00:19:03.880 --> 00:19:08.160
went to Trump slightly ahead of Harris. So the vice

390
00:19:08.200 --> 00:19:12.319
presidential debate did move the needle in favor of Trump.

391
00:19:12.680 --> 00:19:16.880
Yeah, I saw that the Vice president's debate. Overall, it

392
00:19:16.920 --> 00:19:19.720
was many people were saying that it was better in

393
00:19:19.839 --> 00:19:24.000
the presidential debate, they thought, but or maybe more professional,

394
00:19:24.039 --> 00:19:27.759
more cordial. But also what they said is that overall

395
00:19:27.960 --> 00:19:32.480
it seemed like Walls was really just emotional about things.

396
00:19:32.599 --> 00:19:35.880
I did hear that Vance was more to the point.

397
00:19:35.799 --> 00:19:39.039
They came across as a little less Well, obviously people

398
00:19:39.119 --> 00:19:42.759
liked A Dvance's presentation. Better to push Trump back back

399
00:19:42.799 --> 00:19:48.000
to the lead for people who are putting money where

400
00:19:48.039 --> 00:19:50.440
their mouth is. Yeah, so I always kind of like

401
00:19:50.519 --> 00:19:51.279
to follow the money.

402
00:19:51.319 --> 00:19:53.279
You know what's DJ tven doing.

403
00:19:53.720 --> 00:19:57.119
DJ's been d had a nice, a nice rebound after

404
00:19:57.200 --> 00:20:00.240
hitting that, after hitting that low point. U. I think

405
00:20:00.240 --> 00:20:01.799
it got down to a twelve and a half or

406
00:20:01.799 --> 00:20:05.240
so when they took the handcuffs off of those original

407
00:20:05.279 --> 00:20:10.319
people that had bought in, and it has it has

408
00:20:10.400 --> 00:20:13.599
slowly been rebounding back to sixteen and change.

409
00:20:13.640 --> 00:20:15.480
I think Todd said something about the ju jitsy this

410
00:20:15.559 --> 00:20:17.759
earlier this week that the CEO step down or something.

411
00:20:17.720 --> 00:20:22.480
The COO ce operating officers step down of true social indeed.

412
00:20:22.640 --> 00:20:25.160
Yeah, yeah, And I honestly don't think it has anything

413
00:20:25.200 --> 00:20:27.200
to do with the fundamentals of the company. We've talked

414
00:20:27.200 --> 00:20:29.599
about this nauseum. You know, they don't have really much

415
00:20:29.599 --> 00:20:33.119
of a business. It's it's about the presidential election and

416
00:20:33.160 --> 00:20:35.599
the belief that if Trump wins, it's it's going to

417
00:20:35.640 --> 00:20:37.319
be really really good for this company, and if you

418
00:20:37.359 --> 00:20:39.599
lose it, it probably isn't good for the company. You know.

419
00:20:39.640 --> 00:20:42.039
It's funny that you bring up the sites where you

420
00:20:42.079 --> 00:20:46.400
can pick about the presidential election and the odds, because

421
00:20:46.799 --> 00:20:50.319
some there's actually some like not lawsuits, but the Commodity

422
00:20:50.400 --> 00:20:53.519
Futures Trading Commission is looking into some regulatory challenges of

423
00:20:53.559 --> 00:20:56.799
it because you can make a case that it could

424
00:20:56.799 --> 00:20:59.839
be some political manipulation and if you can actually some

425
00:21:00.039 --> 00:21:02.359
how like make money and put wagers on it, and

426
00:21:02.839 --> 00:21:06.720
you're a political candidate, you know, you could make some sways.

427
00:21:06.720 --> 00:21:09.160
It's like being an NFL player betting on NFL games,

428
00:21:09.160 --> 00:21:10.759
like points shaving on. I mean, it's like if you.

429
00:21:10.839 --> 00:21:13.680
Yeah, no, I agree. But a federal judge on I

430
00:21:13.720 --> 00:21:18.160
think it was Wednesday, said that wagers on congressional races

431
00:21:18.359 --> 00:21:20.359
was fine, right.

432
00:21:20.200 --> 00:21:22.799
I mean, and if you think about what their stance

433
00:21:22.839 --> 00:21:26.160
on congressional people doing the stock market, on companies that

434
00:21:26.200 --> 00:21:29.160
they make laws for. That's fine as well.

435
00:21:29.279 --> 00:21:33.039
Yeah, so yeah, it's it's a you're saying it's because

436
00:21:33.039 --> 00:21:36.480
it's okay, it's because it's legal, doesn't make it right. Yeah,

437
00:21:37.960 --> 00:21:42.920
that what I'm hearing. Next week, we've got just a calendar.

438
00:21:43.000 --> 00:21:46.920
Next week, we've got a CPI on Thursday and a

439
00:21:46.960 --> 00:21:50.839
producer pression the next PPI on Friday. This past week, oil,

440
00:21:50.880 --> 00:21:54.519
like we said, gain ten percent. He a couple of weeks,

441
00:21:54.519 --> 00:21:56.680
seventy four to fifty I finished. I can't believe it

442
00:21:56.720 --> 00:22:00.279
grows up ten percent. It's only seventy four to fifty. Else,

443
00:22:00.640 --> 00:22:02.559
I thought I thought gold was going to have a

444
00:22:02.599 --> 00:22:04.880
down week. I actually thought gold was going to have

445
00:22:04.920 --> 00:22:07.599
a down week. With about an hour left in the

446
00:22:07.640 --> 00:22:09.799
trading day, it was down for the week, and actually

447
00:22:09.960 --> 00:22:12.599
finished up three dollars for the week. So another positive

448
00:22:12.640 --> 00:22:13.720
week for the gold bugs.

449
00:22:14.000 --> 00:22:16.960
Gold's having the best medal, it's having a best years

450
00:22:16.960 --> 00:22:17.480
on record.

451
00:22:17.519 --> 00:22:19.200
Oh yeah, best year in history.

452
00:22:19.680 --> 00:22:20.359
It's doing great.

453
00:22:20.400 --> 00:22:22.720
Oh I can't. I can believe that. Absolutely. Oh you're

454
00:22:22.720 --> 00:22:25.680
bitcoing down about what five percent this week? Yeah, something

455
00:22:25.680 --> 00:22:26.440
like that, And.

456
00:22:26.720 --> 00:22:28.279
You know it's funny. I don't know if we talked

457
00:22:28.279 --> 00:22:30.160
about it on this show, but we were talking about

458
00:22:30.200 --> 00:22:33.759
like Gold's year to date performance and how it's it's

459
00:22:33.759 --> 00:22:36.759
had a really good year, right, and so so far

460
00:22:37.519 --> 00:22:39.599
year to date, it's up twenty eight percent.

461
00:22:39.759 --> 00:22:42.240
Gold is yeah, yeah, eight percent better than the S

462
00:22:42.279 --> 00:22:43.000
and P five hundred.

463
00:22:43.279 --> 00:22:46.200
Right, And then I asked you guys, and see if

464
00:22:46.200 --> 00:22:52.079
you remember what was bitcoin up year today? Fifty yeah,

465
00:22:52.119 --> 00:22:54.519
so right now it's up forty seven percent year to date.

466
00:22:54.799 --> 00:22:58.400
All right, it's like hard to like remember I was.

467
00:22:58.759 --> 00:23:01.799
You were the closest without going over, I win, just

468
00:23:01.839 --> 00:23:05.720
like the price is right, give me that, buddy, give.

469
00:23:05.559 --> 00:23:06.240
Me my big cooin.

470
00:23:07.559 --> 00:23:10.279
Big ones. Actually having a nice rally though on the

471
00:23:10.759 --> 00:23:13.799
on Friday afternoon, and uh, it was up three percent

472
00:23:13.880 --> 00:23:17.039
to finish the week, back up to sixty two to four, right.

473
00:23:16.880 --> 00:23:18.720
But I think he's still finished down about five percent

474
00:23:18.759 --> 00:23:19.359
a week, didn't it.

475
00:23:19.640 --> 00:23:22.160
Well, it's not as five now, it's about three because

476
00:23:22.480 --> 00:23:25.440
was it still rallying as we're as we're speaking.

477
00:23:25.759 --> 00:23:29.759
So Yankey, Nike's trying to Nik, Nike's trying to join

478
00:23:29.839 --> 00:23:32.640
Boling and Intel is one of the worst performing stocks

479
00:23:32.640 --> 00:23:35.920
in the thirty stock Dow Industrial Average down eight percent

480
00:23:35.960 --> 00:23:39.960
Wednesday after another disappointing quarter showing year over year sales

481
00:23:40.359 --> 00:23:43.400
were down ten percent. It's so bad that they reduced

482
00:23:43.440 --> 00:23:48.240
their guidance and postponed their plan to investor Day as

483
00:23:48.240 --> 00:23:50.240
they have a new CEO coming in and they just said,

484
00:23:50.240 --> 00:23:52.240
you know what, just quit watching this right now.

485
00:23:52.240 --> 00:23:55.160
Where what was the news that came out like a

486
00:23:55.240 --> 00:23:57.039
couple of weeks ago in Nike that made it pop?

487
00:23:57.480 --> 00:23:59.039
It jumps you guys.

488
00:23:59.079 --> 00:24:01.279
Remember I can't recall.

489
00:24:01.480 --> 00:24:04.279
Yeah, I thought that that was the earning support. I

490
00:24:04.400 --> 00:24:05.599
just not sure.

491
00:24:05.839 --> 00:24:08.240
I don't know anyway, it's it's a third worst performing

492
00:24:08.279 --> 00:24:10.640
stock in the thirty stock down Industrial Average.

493
00:24:10.680 --> 00:24:11.359
What's the first?

494
00:24:11.599 --> 00:24:15.400
And uh, the worst is Boying and then Intel first, No,

495
00:24:15.480 --> 00:24:18.000
the worst. We'll be back right after this break. We're

496
00:24:18.079 --> 00:24:20.359
runing out of time. Let's start talking about that in

497
00:24:20.400 --> 00:24:22.960
the next segment. Thank you, Sebastian. We'll be right back.

498
00:24:23.680 --> 00:24:25.359
Welcome back to the Money Matter Show. My name is

499
00:24:25.400 --> 00:24:28.240
Sebastian Borsini. I'm here with David Sherwood and Todd click

500
00:24:28.319 --> 00:24:32.160
Junior while Dylan and Dean Greenberg are away. We're filling

501
00:24:32.200 --> 00:24:33.000
it our away.

502
00:24:33.440 --> 00:24:35.640
When you have a family company. One away sometimes that

503
00:24:35.680 --> 00:24:36.319
means two away.

504
00:24:36.880 --> 00:24:39.480
For the break, we were talking about these dous stocks

505
00:24:39.519 --> 00:24:41.559
and how they've been doing on the year. Talked about

506
00:24:41.599 --> 00:24:44.759
Intel being the worst performer, down fifty.

507
00:24:44.480 --> 00:24:46.559
Two percent, Tell the worst. I thought Boying was.

508
00:24:46.759 --> 00:24:49.440
Tell's the worst. They're They're down fifty two percent, and

509
00:24:49.440 --> 00:24:53.039
then Boeing was down forty one percent. You're to dates

510
00:24:53.240 --> 00:24:54.920
and these numbers are all as of.

511
00:24:55.039 --> 00:24:56.119
As at the end of September.

512
00:24:56.119 --> 00:25:00.599
Correct, Yeah, correct, So if that changed, maybe Walmart that

513
00:25:00.759 --> 00:25:03.839
is the top number one, number one You're to date?

514
00:25:03.880 --> 00:25:10.119
What do you think thirty five fifty fifty up Walmart

515
00:25:10.160 --> 00:25:14.759
Dicara to day? Isn't that something? Wow? Who's number two? Three?

516
00:25:14.920 --> 00:25:18.000
M three am getting pastor litigations and stuff.

517
00:25:18.000 --> 00:25:19.640
I guess they have, and they were at the bottom

518
00:25:19.640 --> 00:25:21.279
of the list for a couple of years when we've

519
00:25:21.319 --> 00:25:23.680
talked about that. Look at the bottom of the list

520
00:25:23.720 --> 00:25:26.200
and then with the bottom of the list unless they

521
00:25:26.240 --> 00:25:27.640
take it off like Walgreens.

522
00:25:28.759 --> 00:25:30.960
Well, just to mention about the DOW that Nike did

523
00:25:31.160 --> 00:25:34.559
be earnings uh two days ago, So yeah, I'm not

524
00:25:34.720 --> 00:25:38.200
you know, there's a weird things with Nike. But the

525
00:25:38.240 --> 00:25:41.359
new the new CEO as well coming on board. That

526
00:25:41.559 --> 00:25:43.960
had to do with the jump. When the guy who

527
00:25:44.079 --> 00:25:46.400
is coming on long time, he was retired from.

528
00:25:46.440 --> 00:25:48.960
Now that's brought him out of retirement. Yeah, oh yeah, yeah,

529
00:25:49.039 --> 00:25:52.839
brought him out of retirement. That's right now, I remember that. Yeah.

530
00:25:53.359 --> 00:25:58.160
And so during September, any big movers in September that

531
00:25:58.240 --> 00:26:00.759
you can catch it a glance there threw your curve

532
00:26:00.799 --> 00:26:01.160
ball here.

533
00:26:02.079 --> 00:26:04.359
I mean you got Caterpillar. You got IBM that had

534
00:26:05.039 --> 00:26:06.200
year ten percent.

535
00:26:06.519 --> 00:26:10.160
Up, both of them. H Caterpillar I think is rebounding

536
00:26:10.200 --> 00:26:13.759
on that China news. They they do a bunch of

537
00:26:13.799 --> 00:26:14.599
business in China.

538
00:26:14.759 --> 00:26:17.319
I'm surprised to see Verizon up twenty five percent year to.

539
00:26:17.359 --> 00:26:21.039
Date Verizon and App I don't believe it.

540
00:26:21.359 --> 00:26:23.359
Yeah, it's that super cycle, you know, when people are

541
00:26:23.359 --> 00:26:26.839
going to get new phones and people are anticipating that

542
00:26:27.640 --> 00:26:30.400
a little more. I don't I think the stuck will

543
00:26:30.400 --> 00:26:33.759
come down a little bit eventually because those investors are

544
00:26:33.759 --> 00:26:35.559
probably going a little too fast. Because I don't know

545
00:26:35.559 --> 00:26:36.960
about you, but I'm not running out the door to

546
00:26:37.079 --> 00:26:39.400
Verizon to change my phone right now. I don't think

547
00:26:39.480 --> 00:26:41.039
the Apple phone is where I want it to be.

548
00:26:41.119 --> 00:26:43.799
And we talked about how Apple intelligence isn't quite there

549
00:26:43.880 --> 00:26:46.680
yet where it should be if you're wanting to get

550
00:26:46.720 --> 00:26:47.799
this new great phone.

551
00:26:47.880 --> 00:26:50.480
So you know what Verizon and I guess T Mobile

552
00:26:50.519 --> 00:26:52.640
has been doing lately, though, then I wonder how much

553
00:26:52.759 --> 00:26:55.839
is actually affecting the revenue. And maybe it's helping Internet.

554
00:26:56.039 --> 00:27:00.839
They're offering Internet now right and T Mobile.

555
00:27:02.880 --> 00:27:06.480
Yeah, Verizon has the hot Spot Internet and T Mobile

556
00:27:06.519 --> 00:27:08.839
as well, so that probably helps some revenue.

557
00:27:09.519 --> 00:27:11.599
I know the Verision and excuse me, AT and T

558
00:27:11.720 --> 00:27:14.519
and H and T and Verizon are stock state you

559
00:27:14.559 --> 00:27:17.480
always bought because you felt their dividend is around six percent,

560
00:27:17.920 --> 00:27:21.440
the dividend was dependable and covered, and they made enough

561
00:27:21.440 --> 00:27:26.000
money to pay the dividend. You never expected appreciation, And

562
00:27:26.200 --> 00:27:29.480
this year has just been amazing. I mean, not only

563
00:27:29.480 --> 00:27:31.720
are you getting that that great dividend, but you're getting

564
00:27:31.759 --> 00:27:34.960
some significant appreciation. I mean more so than the S

565
00:27:34.960 --> 00:27:36.839
and P five hundred.

566
00:27:37.599 --> 00:27:39.759
Let's talk about the SMP sectors for a bit.

567
00:27:39.960 --> 00:27:41.960
Yeah, yeah, what do you guys.

568
00:27:41.799 --> 00:27:43.480
Thinks is the top performing sector of the year.

569
00:27:43.599 --> 00:27:46.559
Now, I don't want to hear about utilities? Yeah, not

570
00:27:46.920 --> 00:27:49.839
utility to be bottom at the bottom and they utilities

571
00:27:50.039 --> 00:27:54.599
really yeah, you think that Dave. They had been near

572
00:27:54.599 --> 00:27:57.920
the bottom most of the year, but now interesting I started.

573
00:27:57.599 --> 00:28:00.240
To be near the bottom. They were actually the hot

574
00:28:00.279 --> 00:28:02.440
performer on number one, number one utilities.

575
00:28:02.599 --> 00:28:06.359
Utilities because of lower interest is up in the last

576
00:28:06.359 --> 00:28:07.680
thir Yeah two.

577
00:28:08.680 --> 00:28:11.319
AI helped give it a bid several months ago before

578
00:28:11.359 --> 00:28:14.119
the rates really started to come down, and then when

579
00:28:14.240 --> 00:28:15.960
rates started to coming down and just had fuel into

580
00:28:16.000 --> 00:28:18.039
the fire. Xou I think made a new all time

581
00:28:18.240 --> 00:28:20.000
high as well, thirty percent.

582
00:28:20.000 --> 00:28:23.240
To date, thirty percent utility index, thirty percent year to date.

583
00:28:23.359 --> 00:28:25.160
Utilities was supposed to be boring for most people that

584
00:28:25.200 --> 00:28:25.880
are listening.

585
00:28:25.799 --> 00:28:27.640
Than like Atten Verizon, right.

586
00:28:27.440 --> 00:28:30.440
Well that's communications, right, but yeah, I mean that's I

587
00:28:30.480 --> 00:28:32.519
think utility to be even more boring than Att and

588
00:28:32.599 --> 00:28:34.319
Verizon what they're supposed to be.

589
00:28:34.440 --> 00:28:36.880
Utilities. It is a total recession play as well. You

590
00:28:36.920 --> 00:28:38.279
know we had that inverteal curve.

591
00:28:38.640 --> 00:28:42.039
Yeah, but again, I think this one is because of AI.

592
00:28:42.200 --> 00:28:44.559
We don't have an energy grid that has the capacity

593
00:28:44.640 --> 00:28:47.519
to have our energy needs right now, so we're gonna

594
00:28:47.519 --> 00:28:48.799
have to build out more utilities.

595
00:28:50.160 --> 00:28:52.599
I think that's uh, some of what's going on with

596
00:28:52.640 --> 00:28:54.920
the new nuclear too. Why nuclear is all of a

597
00:28:54.960 --> 00:28:58.119
sudden becoming more acceptable. Yeah, is that we just kind

598
00:28:58.119 --> 00:28:59.759
of don't have another choice.

599
00:28:59.599 --> 00:29:02.079
You don't. And then we saw that with the Constellation

600
00:29:02.240 --> 00:29:04.839
Energy turning on their three Mile Island, which is so

601
00:29:04.920 --> 00:29:06.799
funny that it takes another four or five years for

602
00:29:06.839 --> 00:29:09.720
that to even get running. It just shows how hard

603
00:29:09.759 --> 00:29:11.680
it is to get those things up and running again

604
00:29:11.799 --> 00:29:14.519
once you shut them down. But yeah, I mean the

605
00:29:14.559 --> 00:29:17.920
small modular reactor. We talked about that stock a couple

606
00:29:17.880 --> 00:29:20.200
of weeks ago, and we're not recommending any of these things,

607
00:29:20.279 --> 00:29:23.839
but we're just putting on the radar about OKLO. Oaklow

608
00:29:24.000 --> 00:29:27.759
is another one of those nuclear fission reactors. Oaklos up

609
00:29:27.799 --> 00:29:30.559
like eighty seven percent in the last month. A small

610
00:29:30.599 --> 00:29:33.720
modular actor was up ten percent on Friday. Oaklo was

611
00:29:33.759 --> 00:29:36.440
up eighteen percent on Friday, just another huge day. These

612
00:29:36.599 --> 00:29:39.559
these things are very volatile and they don't they don't

613
00:29:39.559 --> 00:29:42.079
make any money currently. They lose money each and every quarter,

614
00:29:42.200 --> 00:29:44.519
so it's a really hard thing to really gauge what

615
00:29:44.559 --> 00:29:45.319
the valuation is.

616
00:29:48.960 --> 00:29:51.839
During During the week, the Palisades Nuclear Planning in Michigan

617
00:29:51.960 --> 00:29:54.759
got at one point five billion dollar loan. It's gonna

618
00:29:55.440 --> 00:29:59.359
support the first reactor startup. In US history. First time

619
00:29:59.359 --> 00:30:01.640
in year at US history that had closed. The nuclear

620
00:30:01.640 --> 00:30:04.079
power plant is going to be up and running. This

621
00:30:04.160 --> 00:30:06.000
clears the way for the start of three Mile and

622
00:30:06.359 --> 00:30:09.839
three Miles not tell twenty twenty eighth. The Michigan plant

623
00:30:10.119 --> 00:30:12.839
hopes to be online by late next year, So that'll

624
00:30:12.839 --> 00:30:15.960
be the first one, the first nuclear plant restarted in

625
00:30:16.039 --> 00:30:19.640
the history of the company, history of the country. Could

626
00:30:19.640 --> 00:30:21.680
be the beginning, like you say, of a resurgence in

627
00:30:21.759 --> 00:30:25.279
nuclear as as many believe that is really going to

628
00:30:25.319 --> 00:30:28.519
be the way to meet our energy needs going forward.

629
00:30:28.599 --> 00:30:30.920
It really is. I mean from a green energy perspective,

630
00:30:30.920 --> 00:30:33.279
that's the only one that really really makes sense.

631
00:30:33.400 --> 00:30:38.119
Yeah, so plays around that probably are an interesting place

632
00:30:38.160 --> 00:30:38.680
to have money.

633
00:30:38.839 --> 00:30:39.720
Yeah, exactly.

634
00:30:40.000 --> 00:30:43.920
Costco. Everybody loves Costco, right, and and I understand why

635
00:30:43.960 --> 00:30:47.240
you cannot go buy that store. It is packed NonStop

636
00:30:47.559 --> 00:30:51.279
from open to closed. The gas station has lines. I mean,

637
00:30:51.559 --> 00:30:53.599
I don't know how you could do better business than

638
00:30:53.640 --> 00:30:54.400
Costco does.

639
00:30:54.960 --> 00:30:58.400
You got dollar hot dogs, you got dollar pizza. You

640
00:30:58.440 --> 00:31:00.680
have gold Bars, pretty dan cool.

641
00:31:00.759 --> 00:31:03.000
Okay, Not only do you have gold Bars, which started

642
00:31:03.000 --> 00:31:05.440
in April of twenty two, and they were so hot

643
00:31:05.720 --> 00:31:09.480
that they started bringing on silver coins. Right, so they

644
00:31:09.480 --> 00:31:12.680
now sell silver coins. And last week guess what they

645
00:31:12.720 --> 00:31:16.720
added platinum bars? Whoa platinum bars to the menu?

646
00:31:16.960 --> 00:31:18.000
What about some palladium?

647
00:31:20.400 --> 00:31:22.759
I suppose if they believed that they could sell a

648
00:31:22.799 --> 00:31:25.640
lot of palladium, they would bring they would bring that on.

649
00:31:26.000 --> 00:31:29.960
It appears that Costco has found a gold mine. H

650
00:31:30.079 --> 00:31:31.720
you think the gold mine? That's funny.

651
00:31:31.839 --> 00:31:33.200
Yeah, I get, I get the term.

652
00:31:34.279 --> 00:31:36.440
The problem is the problem is the stock is priced

653
00:31:36.480 --> 00:31:39.880
for perfection. And uh, but you know it's like so

654
00:31:40.000 --> 00:31:44.920
many stocks, whether it be Nvidia or Costco or Lily,

655
00:31:45.640 --> 00:31:50.319
if you want a really really good company with really

656
00:31:50.599 --> 00:31:54.599
strong operations, you sometimes just have to close your nose

657
00:31:54.640 --> 00:31:55.119
and buy it.

658
00:31:55.680 --> 00:31:57.759
I thought was funny is that we found out that

659
00:31:57.839 --> 00:32:02.119
Costco has more verification requirement in our in our voting

660
00:32:02.160 --> 00:32:03.319
system here in Arizona.

661
00:32:03.440 --> 00:32:05.200
Yeah, you have sure idea to get into Costco.

662
00:32:05.359 --> 00:32:07.519
You don't have to show ID for our for our

663
00:32:07.559 --> 00:32:10.799
election here if you dare ask. I mean, it's it's crazy.

664
00:32:10.839 --> 00:32:13.640
You see that two hundred and eighteen thousand voters that

665
00:32:13.720 --> 00:32:16.880
they saw that voted the register for this election actually

666
00:32:17.519 --> 00:32:20.279
don't didn't prove that they were citizens of the United

667
00:32:20.279 --> 00:32:22.200
States and there's still a lout of vote, but they're

668
00:32:22.200 --> 00:32:23.640
still going to be allowed to vote, and they're going

669
00:32:23.680 --> 00:32:26.920
to be notified after the general election on their status

670
00:32:26.960 --> 00:32:28.160
to be able to vote going forward.

671
00:32:28.680 --> 00:32:31.519
And you would think that, you know, notifying all those

672
00:32:31.519 --> 00:32:32.839
people probably cost money.

673
00:32:33.000 --> 00:32:34.279
Yeah, why didn't they just stop it?

674
00:32:34.319 --> 00:32:34.559
There?

675
00:32:36.079 --> 00:32:36.480
Yeah?

676
00:32:36.599 --> 00:32:37.359
It makes me mad.

677
00:32:37.519 --> 00:32:40.400
Some weird games over there. You know something that's also

678
00:32:40.559 --> 00:32:42.960
weird that came out of nowhere is lithium. The lithium

679
00:32:43.000 --> 00:32:47.400
ETF lit lit has had a pretty good month, up

680
00:32:47.440 --> 00:32:49.680
twenty six percent in the last month. That thing has

681
00:32:49.720 --> 00:32:52.119
been a dog for a while, just gone straight down.

682
00:32:52.200 --> 00:32:56.279
I mean it's all time high. That ETF is something

683
00:32:56.440 --> 00:33:01.279
like eighty dollars. No yet ninety dollars. Actually got up

684
00:33:01.279 --> 00:33:03.519
to about ninety eight dollars now all the way down

685
00:33:03.559 --> 00:33:06.440
to it went all the way down to thirty six

686
00:33:06.519 --> 00:33:09.799
dollars now back up to forty six. Okay, so lost

687
00:33:10.039 --> 00:33:13.359
seventy percent of its value over the last two years.

688
00:33:13.440 --> 00:33:14.960
Yeah, because everybody figures, oh, you know, this is a

689
00:33:15.079 --> 00:33:17.000
whole electric car thing is just gonna go away. Well

690
00:33:17.000 --> 00:33:19.920
it's not gonna go away. Okay, We're we're in an

691
00:33:20.039 --> 00:33:22.880
electric car winter. Okay, I get that, but he's not

692
00:33:23.000 --> 00:33:23.519
going away.

693
00:33:24.519 --> 00:33:26.720
But it looks like it's trending lithium space.

694
00:33:26.759 --> 00:33:29.240
It does well the lithiums for the lithiums, predicting, Hey,

695
00:33:29.359 --> 00:33:33.440
you're still gonna need me. Interesting segue because last week

696
00:33:33.480 --> 00:33:36.240
I did a piece on EV battery life and our

697
00:33:36.279 --> 00:33:40.839
client Jim I Jim. Jim owns Frontier Towing, and Jim

698
00:33:40.960 --> 00:33:43.240
tows a lot of vehicles, and he tows a lot

699
00:33:43.279 --> 00:33:46.279
of electric vehicles, so he knows way more about this

700
00:33:46.359 --> 00:33:49.160
stuff than I do. And he agreed that the life

701
00:33:49.160 --> 00:33:52.279
of a properly maintained EV battery is likely more than

702
00:33:52.319 --> 00:33:55.359
a decade. But he also said, and I hadn't thought

703
00:33:55.359 --> 00:34:00.279
about this. Charging frequency is the key to longevity. You

704
00:34:00.400 --> 00:34:02.920
charge it, which makes sense if you think about your

705
00:34:02.920 --> 00:34:05.200
cell phone. If you plugged in your cell phone every

706
00:34:05.200 --> 00:34:06.880
fifteen minutes can recharge.

707
00:34:06.519 --> 00:34:08.360
Its not gonna do good, no good, that's not a.

708
00:34:08.280 --> 00:34:11.760
Good luck, right, And so he said, the key DeLong

709
00:34:11.840 --> 00:34:15.320
jevity is the charging. And I think that's really brilliant

710
00:34:15.960 --> 00:34:18.639
to that end, And most electric vehicles, you keep it

711
00:34:18.639 --> 00:34:21.719
between twenty percent and eighty percent. Charge, don't charge it

712
00:34:21.719 --> 00:34:25.039
over eighty. Don't let a good below twenty. There's obviously

713
00:34:25.079 --> 00:34:26.800
gonna be times when you have you know, if you

714
00:34:26.880 --> 00:34:28.199
go on a trip, you want it at one hundred.

715
00:34:28.400 --> 00:34:29.320
What you're starting on the trip.

716
00:34:29.360 --> 00:34:31.559
You're saying, if I charge my phone only to eighty percent,

717
00:34:31.599 --> 00:34:32.800
my phone's gonna last longer.

718
00:34:33.480 --> 00:34:37.159
Yeah, huh yeah the uh. I was told when I

719
00:34:37.199 --> 00:34:39.960
picked up my Tesla that eight ninety was the new eighty.

720
00:34:40.000 --> 00:34:43.119
And actually I think that's true because I don't know

721
00:34:43.159 --> 00:34:44.519
about you. I don't know which phe you have. But

722
00:34:45.000 --> 00:34:47.000
now when I plug my phone in that nights, it'll

723
00:34:47.000 --> 00:34:49.599
only charge up to about eighty percent. Like let's let's

724
00:34:49.599 --> 00:34:52.400
say my alarm set for six am, it'll charge eighty

725
00:34:52.440 --> 00:34:55.119
percent up to five am, and then it'll start that

726
00:34:55.119 --> 00:34:57.159
twenty percent in that last hour.

727
00:34:58.519 --> 00:35:00.320
I wonder if I wonder if the cell phone have

728
00:35:00.880 --> 00:35:03.320
my car, I can tell it when to charge and

729
00:35:03.320 --> 00:35:05.159
how much charge. Like I could say, go to eighty

730
00:35:05.159 --> 00:35:07.880
percent and have it ready at five am, and it'll

731
00:35:07.880 --> 00:35:10.559
do it. I don't have to even it's all programmed.

732
00:35:10.639 --> 00:35:13.599
What if the cell phone has a similar program that

733
00:35:13.760 --> 00:35:16.400
might make sense. But anyway, the point is, if if

734
00:35:16.400 --> 00:35:18.840
you're charging your cell phone, you know every fifteen minutes,

735
00:35:19.039 --> 00:35:20.639
it's not going to work out real well for you,

736
00:35:21.119 --> 00:35:23.360
And I think Jim's point is well taking. Jim, thanks

737
00:35:23.440 --> 00:35:26.360
for calling me and setting me straight. And when you're

738
00:35:26.440 --> 00:35:29.440
when you're towing cars for a living, you're seeing a

739
00:35:29.480 --> 00:35:31.559
lot of stuff, and I, like I say, knows a

740
00:35:31.719 --> 00:35:34.199
couple lot more about it than I do. And we

741
00:35:34.280 --> 00:35:37.960
appreciate the input. We'll be back with the third segment

742
00:35:38.079 --> 00:35:40.800
of The Money Matters Show right after this break. Thanks

743
00:35:40.800 --> 00:35:43.920
again for joining us on this hot Sunday morning.

744
00:35:46.320 --> 00:35:48.719
Welcome back to the Moneymatter Show. My name is Todd Glick.

745
00:35:48.760 --> 00:35:52.039
I'm here with Sebastian Borsini and David Sherwood. We had

746
00:35:52.079 --> 00:35:54.000
a fun week in the market. It's not much action,

747
00:35:54.239 --> 00:35:56.400
but a lot of news dos come out, setting the

748
00:35:56.400 --> 00:35:58.280
stage for what's going to happen over the next couple

749
00:35:58.320 --> 00:35:58.719
of months.

750
00:35:58.800 --> 00:36:01.159
How about a lot of action but that much change.

751
00:36:00.960 --> 00:36:04.719
Not much change, a lot of news. So we also

752
00:36:04.760 --> 00:36:08.960
had some We constantly hear about the dollar concern. You know,

753
00:36:09.280 --> 00:36:11.920
the dollar is the world reserve currency. What that means

754
00:36:11.960 --> 00:36:15.480
is the vast majority of transactions and foreign exchange are

755
00:36:15.480 --> 00:36:18.400
held in dollars. And that's not just here in America,

756
00:36:18.480 --> 00:36:21.639
that's globally and that's why we are the world reserve currency.

757
00:36:21.920 --> 00:36:24.199
People are you know, we hear a lot from clients

758
00:36:24.239 --> 00:36:25.800
that are concerned that the dollar isn't going to be

759
00:36:25.800 --> 00:36:28.880
the world reserve currency going forward. And here's quite why.

760
00:36:28.920 --> 00:36:31.079
And these are updated numbers. As of twenty twenty four,

761
00:36:31.400 --> 00:36:35.280
the dollars still remains dominant in global financial transactions. Approximately

762
00:36:35.360 --> 00:36:39.719
sixty percent of international and foreign currency liabilities, which include

763
00:36:39.760 --> 00:36:43.079
cross border deposits and loans, are conducted in US dollars,

764
00:36:43.119 --> 00:36:45.599
but in terms of global trade it's much more. The

765
00:36:45.639 --> 00:36:48.559
dollar is used for a majority of transactions outside of Europe,

766
00:36:48.800 --> 00:36:52.360
accounting for seventy four percent and in Asia Pacific region

767
00:36:52.480 --> 00:36:56.159
seventy nine percent. So you have again about set you

768
00:36:56.159 --> 00:36:59.280
can call it seventy five percent of the transactions of

769
00:36:59.320 --> 00:37:02.199
the world and in the dollar outside of the US,

770
00:37:02.760 --> 00:37:05.519
So all countries are still using the dollars settle it's

771
00:37:05.519 --> 00:37:08.519
more usual. And this was fun to then't look at, Okay,

772
00:37:09.679 --> 00:37:12.360
what's the second most used dollar, because everyone's always worried about, Oh,

773
00:37:12.360 --> 00:37:13.920
there's another one coming up, and that's going to be

774
00:37:13.960 --> 00:37:17.599
the one that ye take it over, right, right, So

775
00:37:17.599 --> 00:37:20.559
that the second most dominant use currency in the world.

776
00:37:20.639 --> 00:37:22.639
What do you think it is, Dave, I would have

777
00:37:22.679 --> 00:37:25.000
to say the wind. It's the Euro.

778
00:37:25.679 --> 00:37:28.679
Oh sure, it's the euro, or second most used currency

779
00:37:28.719 --> 00:37:31.599
globally after the US dollars. It accounts for twenty percent

780
00:37:32.159 --> 00:37:37.760
of foreign exchange reserves. And then the third most is Japanese. Yeah, yeah,

781
00:37:38.400 --> 00:37:41.199
five point five percent. And then number four that's when

782
00:37:41.280 --> 00:37:45.199
you can start to go to the Chinese ren men.

783
00:37:45.239 --> 00:37:49.000
Be taking Chinese the wand based upon the Chinese population.

784
00:37:49.079 --> 00:37:50.800
But the Euro obviously is all of Europe.

785
00:37:51.079 --> 00:37:53.880
Well, and the yen, which is Japan's currency, is more

786
00:37:53.880 --> 00:37:56.079
powerful than the wan, which is the Chinese. So again

787
00:37:56.639 --> 00:37:59.920
the top three is goes US, Europe, and Japan.

788
00:38:00.559 --> 00:38:02.800
I think the US A dollar being eighty five percent

789
00:38:02.920 --> 00:38:06.119
is probably down from eighty seven percent ten years ago.

790
00:38:06.199 --> 00:38:07.119
And that may be bitcoin.

791
00:38:07.599 --> 00:38:09.599
Well it's now says it's seventy five percent.

792
00:38:09.760 --> 00:38:13.280
Yeah, and I said that down from eighty yeah, exactly.

793
00:38:13.360 --> 00:38:15.519
So I think that that there is being I don't

794
00:38:15.559 --> 00:38:18.440
it's not being replaced by other currencies. It's I think

795
00:38:18.440 --> 00:38:19.719
it's being replaced by bitcoin.

796
00:38:19.840 --> 00:38:22.119
I think that's a very good point.

797
00:38:22.199 --> 00:38:25.880
Yeah, it's anyway, it's interesting and there's a lot of newsletters,

798
00:38:25.920 --> 00:38:29.039
a lot remember when you look at these see these

799
00:38:29.039 --> 00:38:32.280
things on TV, or you get something on the internet.

800
00:38:32.440 --> 00:38:36.800
They're trying to scare you into paying them money to

801
00:38:36.920 --> 00:38:39.440
tell you what's going on, And they don't really know

802
00:38:39.480 --> 00:38:41.920
what's going on, right, but they want to convince you

803
00:38:42.000 --> 00:38:45.920
that they do. And I there's probably not a week

804
00:38:46.079 --> 00:38:49.039
goes by that I don't hear about someone saying, well,

805
00:38:49.079 --> 00:38:51.599
you know the dollar is going away, right? No?

806
00:38:51.960 --> 00:38:55.000
And also the dollar is that almost like it's it's

807
00:38:55.119 --> 00:38:57.320
really it's valued really high, which is very cost all

808
00:38:57.360 --> 00:38:59.840
time high. That's not something you want very close to

809
00:38:59.880 --> 00:39:03.000
all time. It hurts not only US but other countries,

810
00:39:03.039 --> 00:39:05.239
which then hurts us again because we get all of

811
00:39:05.239 --> 00:39:07.480
our stuff from other countries. So if they can't produce

812
00:39:07.519 --> 00:39:09.199
things for cheap, then we don't get it for cheap.

813
00:39:09.559 --> 00:39:11.920
And if our dollars more, then they have to sell

814
00:39:11.960 --> 00:39:14.960
it for more. It plays a lot into global trade

815
00:39:15.000 --> 00:39:16.960
and it hurts us more than it helps us.

816
00:39:17.400 --> 00:39:20.840
And Video top performing stock in twenty twenty three and

817
00:39:20.880 --> 00:39:25.039
for most of twenty twenty four, is no longer their

818
00:39:25.079 --> 00:39:28.719
top performing stock. What do you think is you might

819
00:39:28.760 --> 00:39:33.000
actually get this the top performing stock performing S and

820
00:39:33.079 --> 00:39:34.480
P stock in twenty twenty.

821
00:39:34.480 --> 00:39:35.880
Well, I was gonna say, I was like s and

822
00:39:35.880 --> 00:39:41.159
p ok vistra vistrat. I want to have guessed that one.

823
00:39:41.360 --> 00:39:45.320
And consolidate Constellation Energy is a close third. Constellation Energy.

824
00:39:45.320 --> 00:39:46.920
Of course, the ones starting up to the three mile

825
00:39:46.960 --> 00:39:50.000
Island plant, they're close close. Number three more than double

826
00:39:50.480 --> 00:39:52.000
this year Consolation Energy.

827
00:39:52.079 --> 00:39:54.559
Utility never would have guessed that one. Probably why the

828
00:39:54.719 --> 00:39:56.480
XLU so well, that's why utilities is up.

829
00:39:57.960 --> 00:40:01.559
It's interesting because on Wednesday, and announced an extension of

830
00:40:01.599 --> 00:40:04.480
their partnership with Extensure. It was all, yeah, this is

831
00:40:04.519 --> 00:40:07.800
really good, good good. The consulting firm is creating a

832
00:40:07.840 --> 00:40:10.800
new and VIDIA business group that will train employees to

833
00:40:10.840 --> 00:40:16.280
help companies drive the adoption of technology using AI agents.

834
00:40:16.559 --> 00:40:20.079
And my thought was so all of a sudden and

835
00:40:20.199 --> 00:40:24.239
videos thinking about marketing, What would make you think about marketing?

836
00:40:24.360 --> 00:40:26.679
I mean, over the past year and a half, they've

837
00:40:26.679 --> 00:40:29.599
been selling more ships than they can possibly make. The

838
00:40:29.679 --> 00:40:32.119
last thing you're going to do when you're selling more

839
00:40:32.480 --> 00:40:35.440
product than you can waste money marketing is waste money

840
00:40:35.440 --> 00:40:37.360
on marketing or advertising.

841
00:40:37.440 --> 00:40:40.079
Yeah, but then it's whatever his name is, the CEO

842
00:40:40.159 --> 00:40:42.039
come out and said and he's literally said, we have

843
00:40:42.079 --> 00:40:42.840
insane demands.

844
00:40:43.000 --> 00:40:45.400
Well, he said that the new black Well chip right

845
00:40:46.320 --> 00:40:49.760
has insane demand. He used the term insane demands, and

846
00:40:49.800 --> 00:40:53.719
I absolutely understand that. But then why are you creating

847
00:40:53.760 --> 00:40:55.480
a new group to teach people how to use it?

848
00:40:56.119 --> 00:40:59.960
Well, that's exactly it. Potentially, if you need to teach

849
00:41:00.119 --> 00:41:02.239
how to use it versus sell it, that's a different thing.

850
00:41:02.400 --> 00:41:07.000
I think that. I think you're probably they're probably smart.

851
00:41:07.199 --> 00:41:09.800
They're obviously very smart people at Nvidia, and they probably

852
00:41:09.800 --> 00:41:13.480
see to that. Ultimately this is going to slow down.

853
00:41:13.719 --> 00:41:16.599
Ultimately it's going to there's going to be more competition.

854
00:41:17.119 --> 00:41:20.840
Maybe everybody doesn't need the first, the top of the

855
00:41:20.880 --> 00:41:23.800
line Mercedes. Maybe they can go with the second one

856
00:41:23.840 --> 00:41:26.360
down or the third one down and still accomplish the

857
00:41:26.400 --> 00:41:31.320
same and video It has made their mark by making

858
00:41:31.400 --> 00:41:35.360
the top the best you can get, and maybe everybody

859
00:41:35.400 --> 00:41:36.760
doesn't need the best.

860
00:41:37.000 --> 00:41:39.280
Well, that's exactly it. Maybe that marketing firm is just

861
00:41:39.280 --> 00:41:42.199
more like a consultant saying, hey, company, you want a chip,

862
00:41:42.360 --> 00:41:44.039
tell me what you're trying to do. This is the

863
00:41:44.039 --> 00:41:47.760
best chip for that particular project. And so they get

864
00:41:47.840 --> 00:41:49.119
charge defeat for that advice.

865
00:41:49.280 --> 00:41:51.199
So I get that. I get that up. But other kid,

866
00:41:51.280 --> 00:41:54.360
I thought, having a market, then why would you have

867
00:41:54.400 --> 00:41:54.800
to market?

868
00:41:54.840 --> 00:41:56.920
Well, you know, we get economic reports all the time.

869
00:41:57.039 --> 00:41:59.320
We have the non farm payrolls, we have the CPI,

870
00:41:59.440 --> 00:42:03.440
the GDP, the jolts, all these different economic reports. And

871
00:42:03.679 --> 00:42:06.000
I came across a really interesting chart that shows the

872
00:42:06.039 --> 00:42:10.119
S and P five hundred reaction and the average gainer

873
00:42:10.199 --> 00:42:13.039
loss five minutes before the release of an economic report

874
00:42:13.039 --> 00:42:14.960
and then thirty minutes after the release.

875
00:42:15.360 --> 00:42:16.559
Interesting it shows.

876
00:42:16.280 --> 00:42:19.239
You what moves the market's most based on their releases.

877
00:42:19.639 --> 00:42:22.239
So we'll play a fun game. What's what's number one?

878
00:42:23.239 --> 00:42:26.639
No, No, number one economic report that moves the market? Yeah,

879
00:42:26.760 --> 00:42:27.719
Jobs report.

880
00:42:27.880 --> 00:42:30.800
PC so it is part of the non farm payroll

881
00:42:31.000 --> 00:42:34.360
is NFP is the is the top market move since

882
00:42:34.360 --> 00:42:36.760
twenty eighteen. I'll caveat that. That's since twenty eighteen, so

883
00:42:36.800 --> 00:42:38.880
it's about last six years, non farm payroll has been

884
00:42:38.880 --> 00:42:41.639
the most moved. It on average twenty five based points.

885
00:42:41.800 --> 00:42:44.519
GDP is the second most. CPI is number three.

886
00:42:45.280 --> 00:42:46.239
GPI gp.

887
00:42:47.519 --> 00:42:48.760
GDP is higher than CPI.

888
00:42:48.840 --> 00:42:51.760
Yeah, if he's higher than CPI, that's surprises surprise.

889
00:42:51.840 --> 00:42:53.719
But you also have to take an account the CPIS

890
00:42:53.760 --> 00:42:56.800
sometimes has a negative impact. So this is this is saying,

891
00:42:56.840 --> 00:42:57.760
like the average.

892
00:42:57.599 --> 00:43:00.800
The third biggest mover is CPI, which we have next Thursday,

893
00:43:00.960 --> 00:43:02.079
right to watch.

894
00:43:02.320 --> 00:43:05.360
And then the last the last three that are kind

895
00:43:05.360 --> 00:43:08.239
of not don't move the needle as much. It is

896
00:43:08.360 --> 00:43:12.639
a consumer sentiment, industrial production, and then last which I

897
00:43:12.719 --> 00:43:16.280
kind of thought surprising as retail sales. Okay, retail sales

898
00:43:16.320 --> 00:43:17.199
being the very last one.

899
00:43:17.239 --> 00:43:20.199
I think because you're so could be. I mean, it's

900
00:43:20.199 --> 00:43:22.119
just hard to have, hard to make any kind of

901
00:43:22.119 --> 00:43:22.440
long term.

902
00:43:22.480 --> 00:43:24.519
But yeah, CPI coming out next week is going to be,

903
00:43:25.920 --> 00:43:28.360
you know, a pretty big deal seeing how we're gonna

904
00:43:28.360 --> 00:43:30.800
impact us. Again, you're not going to see these oil

905
00:43:30.840 --> 00:43:33.760
prices probably in this CPI report, but you will see

906
00:43:33.840 --> 00:43:36.159
him in the next one. So if this CPI is

907
00:43:36.239 --> 00:43:38.920
up for any reason, that's going to really worry people,

908
00:43:38.920 --> 00:43:40.880
because the next one is probably certainly going to be

909
00:43:40.920 --> 00:43:43.920
higher than we were originally expecting because oil is higher.

910
00:43:44.800 --> 00:43:46.719
It depends on how quickly that reacts to that. Right,

911
00:43:46.760 --> 00:43:49.000
remember oil moved of ten percent this week, and.

912
00:43:49.000 --> 00:43:50.719
Right, I don't think it over That's why the CPI

913
00:43:50.840 --> 00:43:51.719
next week, I don't think.

914
00:43:51.559 --> 00:43:53.039
It's gonna I don't think it reflects that.

915
00:43:53.000 --> 00:43:54.440
If anything, it will be the next one.

916
00:43:54.639 --> 00:43:56.079
You know, I've I've been doing this a long time

917
00:43:56.119 --> 00:43:59.119
and I've I've seen a lot of takeovers and I've

918
00:43:59.159 --> 00:44:01.760
seen a few take unders. You guys know, what to

919
00:44:01.760 --> 00:44:04.800
take under is wor stock trading at thirty dollars to

920
00:44:04.880 --> 00:44:06.599
share and somebody comes in and buy them all cash

921
00:44:06.599 --> 00:44:07.280
for twenty three.

922
00:44:07.719 --> 00:44:08.440
I haven't seen that.

923
00:44:08.559 --> 00:44:11.039
Yeah, there's there's a thing called to take under and

924
00:44:11.079 --> 00:44:13.960
the other the company to selling for twenty three understands

925
00:44:13.960 --> 00:44:16.639
that they're lucky to get that. That's what's going to happen.

926
00:44:16.840 --> 00:44:20.719
I saw one one I haven't seen before at and T.

927
00:44:21.320 --> 00:44:24.960
Excuse me, Direct TV has agreed to buy Dish Network.

928
00:44:24.960 --> 00:44:27.199
Did you see this? What do you think they're having

929
00:44:27.199 --> 00:44:28.480
to pay for Dish Network?

930
00:44:30.280 --> 00:44:31.480
One hundred and thirty million dollar?

931
00:44:31.519 --> 00:44:33.719
How about one dollar? What?

932
00:44:33.719 --> 00:44:33.800
What?

933
00:44:34.559 --> 00:44:38.280
Direct TV is buying Dish Network for one dollar? Okay?

934
00:44:38.280 --> 00:44:43.840
But the catch they are also assuming ten billion dollars

935
00:44:44.079 --> 00:44:48.239
with a debt. Oh take on the debt, so they're actually, yeah,

936
00:44:48.239 --> 00:44:50.679
but they're buying them for one dollar and they're assuming

937
00:44:50.719 --> 00:44:54.280
they're ten billion dollars worth of debt. Dish parent drop

938
00:44:54.360 --> 00:44:56.719
fifteen percent on the news. They will need to take

939
00:44:56.760 --> 00:45:01.559
a nice sides valuation haircut to make this deal happen.

940
00:45:01.800 --> 00:45:05.000
Job Dish one dollar. I've never seen that.

941
00:45:05.320 --> 00:45:08.239
We talked about EV garage. Let's talk about the EV

942
00:45:08.360 --> 00:45:11.199
hangar real quick. You guys know what EV tolls are?

943
00:45:12.440 --> 00:45:19.159
Tolls EVTL, EV toll Electric vehicle takeoff and landing. Okay,

944
00:45:19.239 --> 00:45:21.880
So uh, the only reason I'm bringing this up is

945
00:45:21.920 --> 00:45:25.440
because flying vehicles. Yes, it's a flying taxi ESI. And

946
00:45:25.480 --> 00:45:28.400
I've seen the two big in the space right now.

947
00:45:28.400 --> 00:45:31.159
It's Archer Aviation and then there's another one called Jobi

948
00:45:31.559 --> 00:45:35.519
or Jobby Aviation. Okay. Shares dropped more than eight percent,

949
00:45:35.639 --> 00:45:37.360
pairing back some of the games that were made in

950
00:45:37.400 --> 00:45:41.039
the previous session. Joby sored nearly twenty eight percent on

951
00:45:41.079 --> 00:45:44.280
Wednesday after Toyota announced that it's investing five hundred million

952
00:45:44.320 --> 00:45:47.039
dollars into the company to support the certification and production

953
00:45:47.119 --> 00:45:51.159
of its electric vehicle taxi. It's interesting to me that

954
00:45:51.159 --> 00:45:52.920
they're putting that much money behind it, but I feel

955
00:45:52.960 --> 00:45:54.519
like we're so far from it's.

956
00:45:54.400 --> 00:45:57.679
Still probably are you know, we probably are, But at

957
00:45:57.679 --> 00:46:00.159
one point we were so far from the electory.

958
00:46:00.320 --> 00:46:03.559
Totally totally, and this isn't you know, an electric plane.

959
00:46:03.599 --> 00:46:07.400
This is like a four to six person seater. I'm

960
00:46:07.400 --> 00:46:12.280
gonna take this electric vehicle or electric helicopter taxi over

961
00:46:12.320 --> 00:46:13.760
to Phoenix real quick, real quick.

962
00:46:13.920 --> 00:46:17.639
Yeah, okay, so it's just short, short range. Yeah, and

963
00:46:17.639 --> 00:46:21.320
they're electric electric yeah yea, So no pollution, no noise.

964
00:46:21.400 --> 00:46:23.199
It's interesting to see some traction behind those.

965
00:46:23.239 --> 00:46:26.559
Now. It's interesting that as much technology as we have

966
00:46:26.639 --> 00:46:29.800
in this world, that we cannot make jets more quiet.

967
00:46:31.039 --> 00:46:33.360
I think that's one of their that's the problem with

968
00:46:33.480 --> 00:46:37.679
the flying cars. You can't make them quiet. You know

969
00:46:37.760 --> 00:46:41.199
a loud drones are? You know, drones are really annoying.

970
00:46:41.400 --> 00:46:41.800
Yeah, I know.

971
00:46:41.840 --> 00:46:43.519
Imagine if we had a whole bunch of cars flying

972
00:46:43.559 --> 00:46:43.920
around the.

973
00:46:43.920 --> 00:46:49.440
Sky making no sounds of like like that amazing when

974
00:46:49.480 --> 00:46:51.000
you have jets go over and you always know that

975
00:46:51.199 --> 00:46:53.360
they're there, you know you can Okay, can we stop

976
00:46:53.400 --> 00:46:57.039
the conversation for a minute. Jets going over? How have

977
00:46:57.079 --> 00:46:58.159
we not made that quiet?

978
00:46:58.159 --> 00:46:59.360
I think that's a net negative.

979
00:46:59.559 --> 00:47:01.280
You know, they're actually supposed to fly at a certain

980
00:47:01.280 --> 00:47:04.239
outitudes they don't make a noise on to civilians.

981
00:47:03.679 --> 00:47:06.000
And so no, no, they don't make as much noise,

982
00:47:06.039 --> 00:47:06.960
but they're gonna make noise.

983
00:47:07.280 --> 00:47:09.280
Yeah, but if they're up in the air where they're

984
00:47:09.280 --> 00:47:10.599
supposed to be, you won't hear them.

985
00:47:10.679 --> 00:47:10.960
Right.

986
00:47:11.280 --> 00:47:13.159
It's when they come down a little closer to.

987
00:47:14.039 --> 00:47:16.159
Well, I guess. I guess living in a town where

988
00:47:16.159 --> 00:47:19.719
there's air force base probably makes that happen a little bit.

989
00:47:19.840 --> 00:47:21.760
We'll be back after this break. Hope you guys are

990
00:47:21.800 --> 00:47:25.199
staying cool out there. UHM, gonna set another record today

991
00:47:25.239 --> 00:47:29.039
and enough already stop. We'll back right after this break.

992
00:47:29.679 --> 00:47:31.440
Welcome back to the Money Matter Show. My name is

993
00:47:31.440 --> 00:47:34.400
Sebastian Borger Senium here with David Sherwood and Todd Click Junior.

994
00:47:34.480 --> 00:47:36.519
Let me give a quick rundown to the numbers this week.

995
00:47:36.559 --> 00:47:39.159
It was pretty boring, pretty flats. The Dow Jones was

996
00:47:39.679 --> 00:47:41.480
up point one percent on the week, the S and

997
00:47:41.480 --> 00:47:43.480
P five hundred was up point two percent on the week,

998
00:47:43.639 --> 00:47:46.679
the Nasazac up point one percent, the Russell two thousand

999
00:47:46.719 --> 00:47:49.840
small caps was down point five percent, and the RSP

1000
00:47:50.079 --> 00:47:52.719
equal weighted S and P five hundred down two tenths

1001
00:47:52.719 --> 00:47:53.639
of a percentage.

1002
00:47:54.159 --> 00:47:56.039
Now, and you and Todd both says was kind of boring,

1003
00:47:56.039 --> 00:47:59.119
but it wasn't the least bit boring. Tuesday was down

1004
00:47:59.199 --> 00:48:04.639
one percent, a lot of volatility. The result was unchanged.

1005
00:48:04.199 --> 00:48:07.239
Correct, very volatile in the meantime.

1006
00:48:07.039 --> 00:48:08.639
And it was kind of Wednesday and Thursday, we're kind

1007
00:48:08.639 --> 00:48:11.199
of quiet, not much going on those two days. But

1008
00:48:11.239 --> 00:48:14.960
Tuesday and Friday were big, pretty wild, pretty wild moves.

1009
00:48:15.079 --> 00:48:19.119
Uh So. But yeah, it's again the market continues to

1010
00:48:19.159 --> 00:48:24.719
be resilient. It continues to be expensive. I'm going to

1011
00:48:24.760 --> 00:48:27.400
hesitate to use the word overvalued, even though it's a

1012
00:48:27.440 --> 00:48:29.760
twenty percent higher than the average pee over the last

1013
00:48:29.760 --> 00:48:39.559
twenty years. It's it's it's pricey, it's vulnerable and yet resilient.

1014
00:48:39.639 --> 00:48:42.480
It's resilient, which is which is really all you need.

1015
00:48:42.559 --> 00:48:45.079
Right If you're resilient to the rest of it, it kind

1016
00:48:45.079 --> 00:48:46.000
of becomes irrelevant.

1017
00:48:46.079 --> 00:48:48.519
You can be as pessimisky as you want. But if

1018
00:48:48.559 --> 00:48:51.079
the earnings come out and they're reporting that they are

1019
00:48:51.119 --> 00:48:55.320
making money, companies can't lie, no, and we are We

1020
00:48:55.360 --> 00:48:57.719
saw when they do what happens super Micro, They get

1021
00:48:57.760 --> 00:49:01.000
they get caught. Yeah, maybe goments can lie. We know

1022
00:49:01.079 --> 00:49:02.880
governments they can lie. No one's really going to hold

1023
00:49:02.880 --> 00:49:04.880
their feet to the fire. But it's really hard for

1024
00:49:04.920 --> 00:49:07.639
companies to lie and get away with it because eventually

1025
00:49:07.639 --> 00:49:10.079
someone finds out and they get reprimanded.

1026
00:49:09.840 --> 00:49:13.119
Right, and valuations can stay extended for a long time.

1027
00:49:13.400 --> 00:49:18.039
I remember back when Greenspan gave the irrational exuberance comments.

1028
00:49:18.880 --> 00:49:21.679
Irrational exuberance continued for quite a while after.

1029
00:49:21.480 --> 00:49:23.639
That, and with the people want to compare this market

1030
00:49:23.679 --> 00:49:26.119
to the dot com bubble, earnings is double.

1031
00:49:26.199 --> 00:49:29.239
Oh you cannot compare the two. I lived through both,

1032
00:49:29.280 --> 00:49:32.440
and there's no comparison whatsoever. So trying to compare this

1033
00:49:32.480 --> 00:49:33.119
to ninety.

1034
00:49:32.960 --> 00:49:35.079
Sure, you could say we're a little overvalued here.

1035
00:49:34.920 --> 00:49:36.000
But it's just silly in.

1036
00:49:36.000 --> 00:49:38.760
Terms of comparing that. It's not a good comparison.

1037
00:49:38.920 --> 00:49:40.800
There's been a lot of talk, both pros and cons

1038
00:49:40.800 --> 00:49:42.880
about Apple. We talked about a little bit earlier the

1039
00:49:42.880 --> 00:49:45.320
sales of the new iPhone sixteen, which of course is

1040
00:49:45.360 --> 00:49:49.719
going to be the first AI iPhone once Apple Intelligence

1041
00:49:49.840 --> 00:49:53.639
is turned on. The latest comment came from JP Morgan analysts,

1042
00:49:53.639 --> 00:49:56.639
who said demand is picking up after a slow start,

1043
00:49:57.760 --> 00:50:01.440
but Barkley said the company is seeing weak demand. What

1044
00:50:01.480 --> 00:50:03.960
we can say is that demand is like and Todd.

1045
00:50:03.960 --> 00:50:06.599
You mentioned it earlier that an iPhone sixteen is really

1046
00:50:06.639 --> 00:50:10.880
an iPhone fifteen until they turn on Apple Intelligence. Once

1047
00:50:10.920 --> 00:50:13.960
they turn on Apple Intelligence, I think there's going to

1048
00:50:14.000 --> 00:50:16.119
be quite a clamor for this phone. I think there's

1049
00:50:16.159 --> 00:50:18.800
gonna be a lot of people on top of it.

1050
00:50:18.840 --> 00:50:21.400
But until then, there's no reason to lay out the money.

1051
00:50:21.440 --> 00:50:23.480
And although I guess I have. If you're a Verizon,

1052
00:50:23.480 --> 00:50:24.800
they'll give you a free one if you just give

1053
00:50:24.840 --> 00:50:27.039
them their phone, right. I know if there's catch to

1054
00:50:27.119 --> 00:50:29.960
that or not. I've been with Verizon since.

1055
00:50:30.360 --> 00:50:32.880
And I'm sure that gets you on the whatever fees that.

1056
00:50:32.880 --> 00:50:36.360
You're paying monthly. I guess somehow or whatever anyway that

1057
00:50:38.119 --> 00:50:40.119
we'll see as it We'll see as it goes on.

1058
00:50:40.239 --> 00:50:45.760
But I think there's a probably some some reason to

1059
00:50:45.800 --> 00:50:48.719
own Apple. I think Kramer said that the Costco is

1060
00:50:48.719 --> 00:50:52.800
coming out with and this is an interesting thesis because

1061
00:50:52.880 --> 00:50:58.519
of the doc workers strike. The thesis is that people

1062
00:50:58.559 --> 00:51:02.000
went to Costco and stopped up ahead of the strike.

1063
00:51:02.639 --> 00:51:03.639
I kind of heard that.

1064
00:51:03.719 --> 00:51:09.599
And so there they're monthly sales numbers for September, which

1065
00:51:09.599 --> 00:51:11.960
will be reported next week, are going to be off

1066
00:51:11.960 --> 00:51:14.840
the charts. And he said, if you don't own Costco,

1067
00:51:14.920 --> 00:51:16.480
you better get it. Well, we'll see.

1068
00:51:16.719 --> 00:51:18.360
I mean, that kind of makes sense to me. I

1069
00:51:18.360 --> 00:51:22.119
saw someone post toilet paper. Yeah, like I'm selling it

1070
00:51:22.119 --> 00:51:25.440
for four hundred dollars. They probably like there is going

1071
00:51:25.480 --> 00:51:27.400
to be a time where we didn't have toilet paper.

1072
00:51:27.440 --> 00:51:30.840
Again, taking us back to the pandemic, you know, people.

1073
00:51:30.599 --> 00:51:33.440
Love to remember things and it sticks to their mind.

1074
00:51:33.280 --> 00:51:36.000
That one thing. How can you not get toilet paper?

1075
00:51:36.079 --> 00:51:39.920
Yeah, so anytime something they'll see something scary on the news,

1076
00:51:39.960 --> 00:51:41.800
they're probably going to be stocking up with toilet paper.

1077
00:51:42.159 --> 00:51:45.360
It is interesting how that went. We had We talked

1078
00:51:45.360 --> 00:51:47.159
about that on the show during the pandemic quite a

1079
00:51:47.199 --> 00:51:49.480
bit about the psychology behind that and all. But it's

1080
00:51:49.880 --> 00:51:51.880
it is interesting that they would go with toilet paper.

1081
00:51:52.000 --> 00:51:55.760
Let's talk about Ford a little bit. Uh nice stock

1082
00:51:55.840 --> 00:51:58.599
with a five percent dividend, is selling it an extremely

1083
00:51:58.679 --> 00:52:04.239
low pe and just really struggling with their EV program

1084
00:52:04.280 --> 00:52:07.719
despite in my opinion, having one of the best looking

1085
00:52:08.400 --> 00:52:12.960
electric vehicle out there. They now are on a program

1086
00:52:13.000 --> 00:52:18.360
to boost electric vehicle sales by addressing potential customer concerns

1087
00:52:18.760 --> 00:52:22.400
through a new program that includes free home charging, installation

1088
00:52:23.159 --> 00:52:27.760
and other benefits. It's called the Ford Power Promise. Program

1089
00:52:27.800 --> 00:52:30.719
began last Tuesday for customers who purchase or lease a

1090
00:52:30.760 --> 00:52:33.440
new Ford electric vehicle. Part of the goal is to

1091
00:52:33.559 --> 00:52:37.440
relieve the financial burden of EV ownership, such as the

1092
00:52:37.519 --> 00:52:41.360
need for home charger. Program also seeks to educate new

1093
00:52:41.400 --> 00:52:45.960
EV owners about the transition from traditional gas vehicles. The

1094
00:52:46.000 --> 00:52:48.960
news was enough for gold Missacs to raise the shares

1095
00:52:49.000 --> 00:52:51.719
to a buy. And I would remind everyone I've had

1096
00:52:51.719 --> 00:52:54.840
an EV now for a year and a half. You

1097
00:52:55.079 --> 00:52:58.920
do not want an electric vehicle without a home charger period.

1098
00:52:59.599 --> 00:53:03.039
If you're thinking about getting an electric vehicle, install a

1099
00:53:03.079 --> 00:53:07.199
home charger first. Having to deal with public chargers is

1100
00:53:07.480 --> 00:53:11.320
just not pleasant. It's time consuming, and it will make

1101
00:53:11.400 --> 00:53:13.320
the whole experience a nightmare.

1102
00:53:13.360 --> 00:53:15.960
And especially in Tucson I know about.

1103
00:53:15.679 --> 00:53:18.480
Too, So just anywhere really Sebastian would be my Thay,

1104
00:53:18.519 --> 00:53:20.760
I don't care if it's seventy degrees in sunny out The.

1105
00:53:20.760 --> 00:53:22.519
Only reason that I say that is just because I

1106
00:53:22.679 --> 00:53:25.760
only know of one place to go charge an electric vehicle,

1107
00:53:25.760 --> 00:53:26.920
and that would be Incontata Mall.

1108
00:53:27.239 --> 00:53:30.400
No, there's a bunch of places. There's a couple of chargers,

1109
00:53:30.400 --> 00:53:31.960
and the alonkatatam All.

1110
00:53:31.960 --> 00:53:33.840
Has the huh maybe the outlets too.

1111
00:53:34.000 --> 00:53:36.639
The Loon catatam All has the two fifty chargers, which

1112
00:53:36.639 --> 00:53:40.039
are kind of a little bit older variety. Over at

1113
00:53:40.360 --> 00:53:43.320
Ina and Orange Grove, there's a whole bank of three

1114
00:53:43.400 --> 00:53:46.760
fifty chargers, and up up in Elia, I think there's

1115
00:53:46.760 --> 00:53:49.239
a four hundred chargers up there, a whole bank of those.

1116
00:53:49.280 --> 00:53:53.639
So they're all over town. You're right, long Katata gets

1117
00:53:53.639 --> 00:53:56.199
most of the attention. And every Saturday when I go

1118
00:53:56.320 --> 00:53:58.280
up to my wife and drop off for lunch at

1119
00:53:58.360 --> 00:54:01.519
Lon Cantata, I eat them all lined up there, and

1120
00:54:02.000 --> 00:54:05.440
just don't do that to yourself. Get yourself a home charger,

1121
00:54:05.519 --> 00:54:09.199
get it installed before you pick up the vehicle. You'll

1122
00:54:09.239 --> 00:54:09.920
thank me later.

1123
00:54:10.159 --> 00:54:13.440
Speaking of cars, a related story hanging Okay, it's still

1124
00:54:13.519 --> 00:54:13.719
on it.

1125
00:54:13.920 --> 00:54:19.000
Chinese emker EV maker Neil saw their shares slump thirty

1126
00:54:19.039 --> 00:54:21.639
percent so far this year, but up fifteen percent on

1127
00:54:21.760 --> 00:54:25.039
Monday on news they're gonna get a thirteen point three

1128
00:54:25.480 --> 00:54:30.079
billion wand that's about one billion US thirteen point three

1129
00:54:30.239 --> 00:54:35.880
billion one infusion GM sixty percent increase in the sale

1130
00:54:35.880 --> 00:54:39.400
of electorcy vehicles and small crossovers. It pushed GM to

1131
00:54:39.519 --> 00:54:44.599
number two behind Tesla in EV sales. They jumped ahead

1132
00:54:44.639 --> 00:54:47.679
of Ford. So God you have them.

1133
00:54:47.760 --> 00:54:50.320
Yeah, I was gonna say, Ferrari race has come down

1134
00:54:50.320 --> 00:54:52.880
from its highs at around five hundred, down fifty points

1135
00:54:52.920 --> 00:54:56.360
to around four fifty. Seems like there's not as much

1136
00:54:56.400 --> 00:55:00.320
demand in the luxury space from some reports. They were saying,

1137
00:55:00.360 --> 00:55:03.760
but it might just be a cooling off effect of

1138
00:55:03.800 --> 00:55:05.960
a really hot stock that's been on a rally since

1139
00:55:06.000 --> 00:55:06.760
twenty sixteen.

1140
00:55:06.880 --> 00:55:09.159
It's been an amazing stock. It really has been an

1141
00:55:09.199 --> 00:55:12.760
amazing stock. Though. I got a fun fact. This is

1142
00:55:12.760 --> 00:55:15.679
from our client, Mike, and we appreciate you sending these

1143
00:55:15.719 --> 00:55:23.039
things in. Mike. What commodity is prevented from future trading?

1144
00:55:24.039 --> 00:55:29.559
What commodity is not traded in the futures markets? And

1145
00:55:29.599 --> 00:55:31.199
I would have never gotten this, So I won't. I

1146
00:55:31.239 --> 00:55:35.400
won't let anybody out there knows say it. I don't

1147
00:55:35.400 --> 00:55:40.239
hear an hitting, nobody knows. How about onions? Yeah, onions

1148
00:55:40.239 --> 00:55:42.920
are not traded in the future. Not only are they

1149
00:55:42.920 --> 00:55:45.960
not traded, they're prevented from trading in the futures market.

1150
00:55:46.000 --> 00:55:50.719
In nineteen fifty five, get this, two onion traders, Sam

1151
00:55:50.760 --> 00:55:55.280
Stiegel and Vince Kosuga traders onion traders. Yeah, onion traders

1152
00:55:55.280 --> 00:55:56.880
on their commodities Exchange.

1153
00:55:57.239 --> 00:55:59.559
Trading live cattle traders, I gets no.

1154
00:55:59.559 --> 00:56:03.119
It's import any crop or any commodity like that. It's

1155
00:56:03.159 --> 00:56:05.880
important to be able to hedge yourself, right, It's important

1156
00:56:05.880 --> 00:56:08.280
to be able to take long and short positions to

1157
00:56:08.360 --> 00:56:11.079
try to smooth out the curve. Because, as somebody from

1158
00:56:11.119 --> 00:56:13.519
South Dakota who knows a little bit about farming, you know,

1159
00:56:13.599 --> 00:56:16.440
it could be all or none. This makes it less

1160
00:56:16.480 --> 00:56:18.360
than all or none. It makes it a little bit

1161
00:56:18.440 --> 00:56:21.800
more edging. Your predictable, a little bit more manageable. But

1162
00:56:22.119 --> 00:56:24.920
these two guys cornered the onion's future market on the

1163
00:56:25.039 --> 00:56:30.119
Chicago Mercantile Exchange. The resulting regulatory action led to the

1164
00:56:30.159 --> 00:56:33.760
pathing of a bill in nineteen fifty eight that prevents

1165
00:56:33.920 --> 00:56:39.599
trading on options futures to this day from nineteen fifty

1166
00:56:39.639 --> 00:56:43.039
eight to this day, which obviously puts a more of

1167
00:56:43.079 --> 00:56:47.039
an unnecessary burden on onion farmers. There's just no way

1168
00:56:47.039 --> 00:56:49.719
to hedge. There's no way to hedge yourself if you're

1169
00:56:49.760 --> 00:56:53.159
an onion farmer. Wow, and you know there's lots of

1170
00:56:53.239 --> 00:56:55.360
onion farmers out there, or we wouldn't have onions on

1171
00:56:55.400 --> 00:56:57.599
all the humburgers. Why do apps have to say no

1172
00:56:57.639 --> 00:57:00.760
onion because they got so darm the onions. They put

1173
00:57:00.760 --> 00:57:03.599
them on everything. I gotta say no onions because I

1174
00:57:03.639 --> 00:57:04.320
don't like onions.

1175
00:57:04.360 --> 00:57:05.360
That's exactly why.

1176
00:57:05.519 --> 00:57:06.079
Thank you, Mike.

1177
00:57:06.960 --> 00:57:09.079
Yes, that's right. You were gonna say something before.

1178
00:57:09.239 --> 00:57:11.280
Well, I was just gonna say thanks, Mike. I appreciate it,

1179
00:57:11.320 --> 00:57:12.960
and I'll be an advocate for onion farmers.

1180
00:57:13.000 --> 00:57:15.880
Now, well, I think those are those are important things.

1181
00:57:15.960 --> 00:57:18.559
Things you don't think about right as much.

1182
00:57:19.159 --> 00:57:20.639
I haven't thought about market.

1183
00:57:21.119 --> 00:57:21.639
No.

1184
00:57:21.639 --> 00:57:25.840
No, And Fitch has had a nice day today. They

1185
00:57:25.840 --> 00:57:29.360
were up ninety on Friday, and that was due to

1186
00:57:29.599 --> 00:57:33.039
JP Morgan maintaining an over eight rating for the stock,

1187
00:57:33.400 --> 00:57:35.760
raised its price target to one ninety five from one

1188
00:57:35.880 --> 00:57:38.880
ninety four. But it has come down significantly from its

1189
00:57:38.960 --> 00:57:42.239
highs where it did hit that pretty much price target

1190
00:57:42.320 --> 00:57:43.400
around two hundred dollars.

1191
00:57:43.599 --> 00:57:45.360
It was amazing. It went from it went from what

1192
00:57:45.559 --> 00:57:48.000
seventy five bucks or fifty bucks up to two hundred.

1193
00:57:48.079 --> 00:57:49.119
Maybe it wedn't even fifty.

1194
00:57:49.280 --> 00:57:52.199
No, I mean it back in well, at the STOT.

1195
00:57:52.199 --> 00:57:53.760
I was looking at it, it was.

1196
00:57:53.719 --> 00:57:56.239
At twenty bucks in twenty twenty three.

1197
00:57:56.960 --> 00:57:59.119
It was at twenty bucks twenty three a year ago

1198
00:57:59.119 --> 00:58:01.039
a year and a half ago. Yeah, twenty three bucks.

1199
00:58:01.039 --> 00:58:04.199
Now I got to two hundred. Yeah, from twenty three

1200
00:58:04.280 --> 00:58:05.840
to two hundred, it's pretty good.

1201
00:58:05.960 --> 00:58:06.800
Yeah, that's crazy.

1202
00:58:06.920 --> 00:58:08.960
That's pretty good. And I was looking at the price

1203
00:58:09.039 --> 00:58:11.559
one day, was looking at a research report and I

1204
00:58:11.599 --> 00:58:14.639
thought it was a typo at the price like one

1205
00:58:14.760 --> 00:58:16.800
eight five. No, it's got to be eighteen and a half.

1206
00:58:17.039 --> 00:58:20.440
Yeah, it's crazy as wow, took off, but it has

1207
00:58:20.480 --> 00:58:22.320
come down from two hundred and one forty six. But

1208
00:58:22.719 --> 00:58:27.320
jumped on on that rating. Firm on from JP Morgan

1209
00:58:28.119 --> 00:58:31.480
ge Healthcare. Interesting news this week. This is a medical

1210
00:58:31.559 --> 00:58:36.079
machine component of the former g and some big news

1211
00:58:36.119 --> 00:58:38.679
over the weekend. The FDA approved the company. This is

1212
00:58:38.760 --> 00:58:42.760
last weekend. The FDA approved the company's new diagnostic drug

1213
00:58:43.119 --> 00:58:45.920
that's going to be used in the detection of coronary

1214
00:58:46.440 --> 00:58:50.760
artery disease. Now, for people who have someone in their

1215
00:58:50.800 --> 00:58:54.159
life and maybe it's you that has coronary artery disease,

1216
00:58:54.239 --> 00:58:57.840
there's really only a couple of ways to take a

1217
00:58:57.880 --> 00:59:01.559
look at how you're doing. One is a thlium stress test,

1218
00:59:01.639 --> 00:59:06.920
which you run on a treadmill. They inject radioactive material

1219
00:59:07.000 --> 00:59:09.239
into your body and then you get an.

1220
00:59:09.159 --> 00:59:12.719
MRI click click, click, click right, and it gives a

1221
00:59:12.840 --> 00:59:16.599
reasonably good image, although it's not what you'd expect. It's

1222
00:59:16.639 --> 00:59:18.920
not an image of each of the arteries and whether

1223
00:59:18.960 --> 00:59:22.480
they're opening, how much they're opening. It essentially the material

1224
00:59:22.599 --> 00:59:25.159
lights up, and so if you're looking at the report

1225
00:59:25.159 --> 00:59:27.519
and it looks like the sun staring back at you,

1226
00:59:27.639 --> 00:59:31.920
then you're good, you know, But it really doesn't define

1227
00:59:32.159 --> 00:59:35.599
where you're having problems, where you're having issues or specific

1228
00:59:36.039 --> 00:59:38.639
So the other way would be an antiogram, where they

1229
00:59:38.639 --> 00:59:43.000
insert a catheter either your growing or your wrist and

1230
00:59:43.079 --> 00:59:46.440
go into your heart and shoot die and take an

1231
00:59:46.440 --> 00:59:49.480
image of it. And that's a really really accurate way

1232
00:59:49.480 --> 00:59:52.280
to tell, but it also comes with risks. There are

1233
00:59:52.320 --> 00:59:57.760
people that die having antigrams. It's not without risk. In fact,

1234
00:59:58.360 --> 01:00:01.480
I have heart disease, have had for fifty years and

1235
01:00:01.760 --> 01:00:05.039
when I asked my cardiologist about it, maybe I'll have

1236
01:00:05.079 --> 01:00:06.920
an angiogram, he goes, no, we're not gonna go there.

1237
01:00:07.599 --> 01:00:08.960
So an angiogram is kind of.

1238
01:00:08.880 --> 01:00:10.760
A I mean, people would take what is it called again,

1239
01:00:10.800 --> 01:00:11.880
I'm sorry, what do you send?

1240
01:00:11.880 --> 01:00:13.519
The angiogram?

1241
01:00:13.599 --> 01:00:13.800
Yeah?

1242
01:00:13.840 --> 01:00:15.559
So people die from.

1243
01:00:15.840 --> 01:00:16.760
Having an angiogram?

1244
01:00:16.880 --> 01:00:17.079
Wow?

1245
01:00:17.159 --> 01:00:19.639
Yeah, well it's and again think about that, you're you're

1246
01:00:19.639 --> 01:00:24.559
inserting a catheter into the heart and then you're scorting die, right, Yeah,

1247
01:00:24.719 --> 01:00:28.639
I mean, you know, stuff can happen. Apparently it's more

1248
01:00:29.119 --> 01:00:31.440
I've had a couple of Apparently it's more dangerous than

1249
01:00:31.440 --> 01:00:34.000
I was led to believe when I had it, because

1250
01:00:34.239 --> 01:00:36.679
when I asked for one voluntarily, they say, oh no, no,

1251
01:00:36.719 --> 01:00:38.760
we're not gonna We're not gonna go there. Anyway, back

1252
01:00:38.800 --> 01:00:43.320
to ge Healthcare, they make the MRI machines. Now they've

1253
01:00:43.320 --> 01:00:47.960
come up with this material uh that can be injected

1254
01:00:48.519 --> 01:00:52.719
and can give allow the MRI to give you angiogram

1255
01:00:52.920 --> 01:00:57.679
like images without being invasive. I think it could be

1256
01:00:57.760 --> 01:01:02.639
huge a barring doctor resistance and of course, with whatever,

1257
01:01:02.679 --> 01:01:04.320
whenever you come up with a new drug like this,

1258
01:01:04.400 --> 01:01:08.360
there's always the possibility of adverse side effects. You never

1259
01:01:08.400 --> 01:01:10.800
know where they are until it starts to be widely used.

1260
01:01:10.800 --> 01:01:13.119
And oh but it's kind of like Ozambic, you know,

1261
01:01:13.280 --> 01:01:15.920
and we'll GOOVI and we find out that twenty five

1262
01:01:15.960 --> 01:01:19.360
percent of the weight losses bone and muscle. You know, Well,

1263
01:01:19.400 --> 01:01:21.239
wait a second, what do you mean.

1264
01:01:21.800 --> 01:01:24.239
Is it pretty costly to do an angiogram test?

1265
01:01:24.880 --> 01:01:26.920
You know, it's all covered by insurance, so who knows.

1266
01:01:26.920 --> 01:01:29.119
Who knows what anything costs these days, But what it

1267
01:01:29.159 --> 01:01:31.440
costs is what the doctor can get, right. He probably

1268
01:01:31.440 --> 01:01:33.760
build them five thousand dollars and they're paying five hundred

1269
01:01:34.360 --> 01:01:38.559
who knows. Who knows? But angiogram is invasive and that

1270
01:01:38.760 --> 01:01:43.079
they try to avoid invasive things. This GE Healthcare got

1271
01:01:43.079 --> 01:01:45.719
a nice little pop on the news. It could be

1272
01:01:45.760 --> 01:01:48.599
it could be something to watch for if you have

1273
01:01:48.719 --> 01:01:51.280
corner or artery disease. This may be something that is

1274
01:01:51.320 --> 01:01:55.880
supposed to be available early next year. Oh, it would

1275
01:01:55.920 --> 01:01:59.280
be really neat way to if we could have angiogram

1276
01:01:59.320 --> 01:02:02.960
type results without an invasive procedure, that would be a

1277
01:02:02.960 --> 01:02:07.559
big deal. And GE has come up with could Ge

1278
01:02:07.679 --> 01:02:10.360
Healthcare has come up with this material which did get

1279
01:02:10.480 --> 01:02:14.360
FDA fast track approval, and that's a good thing. Yeah.

1280
01:02:14.400 --> 01:02:16.480
I had a little bit of a research report that

1281
01:02:16.559 --> 01:02:22.400
I came across talking about United States spending And this

1282
01:02:22.480 --> 01:02:24.119
is always a fun one because we're talking about our

1283
01:02:24.119 --> 01:02:27.280
deficit a lot. Got election coming up, so we can

1284
01:02:27.320 --> 01:02:31.320
talk about it. The gross domestic product of the United

1285
01:02:31.320 --> 01:02:34.639
States in twenty twenty four. What do you think it was? Well,

1286
01:02:34.719 --> 01:02:36.199
I mean, what do you think it's expected to be

1287
01:02:36.239 --> 01:02:37.079
in twenty twenty four?

1288
01:02:37.159 --> 01:02:40.480
In twenty twenty four, don't have no, twenty.

1289
01:02:40.280 --> 01:02:44.039
Nine trillion dollars, that's how much all that's a huge number.

1290
01:02:44.079 --> 01:02:45.920
That's the cost of all goods and services.

1291
01:02:46.000 --> 01:02:48.920
Yeah, so that's by far the largest economy. It's ahead

1292
01:02:48.920 --> 01:02:51.559
of China. They're at eighteen point five trillion expected for this.

1293
01:02:51.719 --> 01:02:53.840
I would have expected to be double training now, but

1294
01:02:53.880 --> 01:02:58.800
it's not twenty nine yeah, yeah, yeah, okay, bout about

1295
01:02:58.840 --> 01:02:59.960
fifty percent more in China.

1296
01:03:00.119 --> 01:03:04.679
So of our government revenue, US government revenue, how much?

1297
01:03:04.880 --> 01:03:08.679
What percentage you think comes from individual income taxes?

1298
01:03:10.360 --> 01:03:16.280
Thirty o cool, twenty fifty fifty.

1299
01:03:16.639 --> 01:03:20.440
Social Security and Medicare taxes are roughly thirty six percent,

1300
01:03:21.079 --> 01:03:26.400
and corporate income taxes are the mere ten percent, but

1301
01:03:26.440 --> 01:03:30.760
they give all these people jobs. It's ah, I read that.

1302
01:03:30.880 --> 01:03:34.039
I was like, what ten percent? Only corporates only paid

1303
01:03:34.039 --> 01:03:37.639
ten percent? That's that's that's what makes up US government revenue.

1304
01:03:37.639 --> 01:03:40.519
Ten percent from corporate You would corporates make all the money,

1305
01:03:40.800 --> 01:03:43.199
so you would think that's where but I guess maybe not.

1306
01:03:43.360 --> 01:03:46.519
They you know, brings reductions, business deductions, humans don't I

1307
01:03:46.519 --> 01:03:50.920
mean regular individuals, families, right, individual income, you don't get deductions,

1308
01:03:50.960 --> 01:03:54.039
your standard deduction, that's it. Where businesses they can write

1309
01:03:54.039 --> 01:03:54.760
off any.

1310
01:03:54.719 --> 01:03:57.440
You know, rather than rather than make rich people pay

1311
01:03:57.480 --> 01:03:59.800
their fair sure, how about we just adjust the tax

1312
01:04:00.280 --> 01:04:00.760
so it's there.

1313
01:04:01.199 --> 01:04:05.159
Yeah, you know, because again just right there, right, like everybody.

1314
01:04:04.760 --> 01:04:07.000
Is paying their fair share, right or they're in prison.

1315
01:04:07.079 --> 01:04:10.920
Eighty six percent of our taxes, our government revenue comes

1316
01:04:10.960 --> 01:04:14.480
from people on Social Security and regular working people.

1317
01:04:15.639 --> 01:04:18.119
It's like, yeah, but would these okay, a few tax

1318
01:04:18.159 --> 01:04:20.960
corporations hired. Do they raise their prices on products more

1319
01:04:21.039 --> 01:04:23.719
or services more? Does the consumer then in turn.

1320
01:04:23.639 --> 01:04:25.719
Well to a point, But there comes a point of

1321
01:04:25.800 --> 01:04:26.519
resistance too.

1322
01:04:26.719 --> 01:04:30.760
Why do you think stock market always goes higher because

1323
01:04:31.360 --> 01:04:32.679
because they're making more money?

1324
01:04:32.960 --> 01:04:35.039
Yeah, stock market is always going to go high over

1325
01:04:35.079 --> 01:04:37.679
time because stock markets based upon GDP and as long

1326
01:04:37.719 --> 01:04:38.960
as we have more people, we're going to have a

1327
01:04:39.039 --> 01:04:44.000
higher GDP. That's simple, very easy. Tesla. After rough start

1328
01:04:44.039 --> 01:04:47.079
to the year, the stock rebounded into positive territory recently.

1329
01:04:47.400 --> 01:04:51.280
Tesla but lost four percent on Wednesday despite reporting delivery

1330
01:04:51.360 --> 01:04:55.079
numbers that were above estimates. Some decided to take profits

1331
01:04:55.079 --> 01:04:57.840
that had gone up twenty percent in thirty days. But

1332
01:04:57.960 --> 01:04:59.559
that's almost right in there with Ali Baba.

1333
01:04:59.639 --> 01:05:04.199
Huh, Well, Dave, you stopped me because I wanted so

1334
01:05:04.239 --> 01:05:06.159
we got the money coming in, right, so we know

1335
01:05:06.199 --> 01:05:07.960
where the money is coming from, and then where are

1336
01:05:07.960 --> 01:05:09.920
we spending it? And they go, no, we know we're

1337
01:05:09.920 --> 01:05:11.599
out of deficit, right, So this is the second part

1338
01:05:11.599 --> 01:05:13.760
of the coin. Where are we spending this money? This

1339
01:05:13.800 --> 01:05:16.480
one kind of surprised me. Twenty two percent of our

1340
01:05:16.519 --> 01:05:19.320
expenses and in fiscal year twenty three we spent seven

1341
01:05:19.360 --> 01:05:22.679
point nine trillion dollars. Twenty two percent of that went

1342
01:05:22.719 --> 01:05:25.599
to the Department of Health and Human Services, eighteen percent

1343
01:05:25.599 --> 01:05:29.079
of that went to our veteran affairs, eighteen percent went

1344
01:05:29.119 --> 01:05:32.800
to Social Security Administration, thirteen percent went to the Department

1345
01:05:32.800 --> 01:05:36.199
of Defense, nine percent went to interest payments, four percent

1346
01:05:36.239 --> 01:05:38.159
went to the Department of Treasury, and then you had

1347
01:05:38.159 --> 01:05:40.920
a like thirteen other costs and things like that. So

1348
01:05:40.960 --> 01:05:44.199
we ran a one point seven trillion dollar deficit in

1349
01:05:44.199 --> 01:05:47.199
fiscal year twenty three, which means we spent that much

1350
01:05:47.239 --> 01:05:48.239
more than what came in.

1351
01:05:48.360 --> 01:05:50.719
What percentage went through defense thirteen.

1352
01:05:51.079 --> 01:05:54.519
Thirteen percent, But we also pay a lot to veteran affairs,

1353
01:05:54.559 --> 01:05:57.719
eighteen percent, and that's all the pensions that we pay out.

1354
01:05:57.760 --> 01:05:59.960
And then I guess I don't I'm not quite sure.

1355
01:06:00.159 --> 01:06:02.159
Department of Health and Human Services that makes up the

1356
01:06:02.159 --> 01:06:04.480
biggest pie, and I'm not quite sure what.

1357
01:06:04.400 --> 01:06:08.840
That would tell Helton Human Services. Yeah, I'm not sure.

1358
01:06:08.880 --> 01:06:09.719
We'll have to research they.

1359
01:06:10.000 --> 01:06:11.760
I mean they, I think they say it's Medicare.

1360
01:06:12.400 --> 01:06:15.320
Yeah, is that it in some version of medicare? Yeah, yeah,

1361
01:06:15.320 --> 01:06:18.239
it makes sense. It makes sense it would be Medicare. Sure, Yeah,

1362
01:06:18.280 --> 01:06:23.480
Medicare is wonderful. You know. Rivian down eight percent on Friday.

1363
01:06:23.480 --> 01:06:26.159
I was talking about Tesla. You know, they reported EV

1364
01:06:26.320 --> 01:06:30.639
sales that were about in line with expectations. They're still

1365
01:06:31.039 --> 01:06:33.760
you know, despite this is everybody talks about ah evs.

1366
01:06:33.760 --> 01:06:36.159
They're really you know, it's really slowing down. Yeah, you know,

1367
01:06:36.159 --> 01:06:39.079
people aren't really interested. You know, they're still delivering over

1368
01:06:39.119 --> 01:06:43.119
five thousand vehicles every day, seven days a week. Five

1369
01:06:43.199 --> 01:06:47.360
thousand every day, seven days a week, over thirty five

1370
01:06:47.400 --> 01:06:51.079
thousand a week. Rivian down eight percent on Friday after

1371
01:06:51.119 --> 01:06:54.840
they cut their production target by seventeen percent due to

1372
01:06:55.199 --> 01:06:58.719
supply chain issues. Well, I haven't heard that one for

1373
01:06:58.760 --> 01:07:03.639
a while. They now hope to produce to get this Rivian.

1374
01:07:04.000 --> 01:07:08.559
Now they got a five billion dollar cash injection from Volkswagen. Right,

1375
01:07:08.960 --> 01:07:12.159
and now I shouldn't say Volkswagen committed to up to

1376
01:07:12.239 --> 01:07:15.920
five billion dollars to in a joint venture with Rivian. Right,

1377
01:07:16.599 --> 01:07:20.760
So they now hope to with this five billion dollars,

1378
01:07:21.280 --> 01:07:23.880
they now hope to produce the same number of vehicles

1379
01:07:23.880 --> 01:07:29.960
this year as Tesla delivers every week. Okay, that's interesting.

1380
01:07:30.000 --> 01:07:33.480
So you're saying Tesla delivers like one hundred and eighty

1381
01:07:33.519 --> 01:07:34.119
thousand a year.

1382
01:07:34.519 --> 01:07:37.159
No, no, no, no, one point nine million.

1383
01:07:39.800 --> 01:07:42.760
So they're what do they deliver?

1384
01:07:43.440 --> 01:07:47.039
They deliver more than five thousand a day, five seven

1385
01:07:47.280 --> 01:07:47.880
days a week.

1386
01:07:48.239 --> 01:07:49.920
Okay, gotcha, that's it.

1387
01:07:50.159 --> 01:07:53.760
Yeah, the uh, stay on the ev thing, just one

1388
01:07:53.760 --> 01:07:57.440
more quick moment to ev go. It's a public charging station.

1389
01:07:57.760 --> 01:08:00.960
Most of those are level two chargers that we would

1390
01:08:01.000 --> 01:08:03.920
be used at hospital or hotels, other places where you'd

1391
01:08:03.960 --> 01:08:06.920
have some time to spend because they don't charge real quickly.

1392
01:08:06.920 --> 01:08:10.719
They're not like what you see out on the freeway. Thursday,

1393
01:08:10.760 --> 01:08:14.239
the US government offered evy Go, this is one of

1394
01:08:14.239 --> 01:08:18.039
those companies, a conditional loan guarantee of up to one

1395
01:08:18.720 --> 01:08:23.039
billion dollars, sending the stock up nearly one hundred percent

1396
01:08:23.760 --> 01:08:26.560
to an eighteen month high, because it takes bankruptcy off

1397
01:08:26.600 --> 01:08:28.760
the table. Bankruptcy, of course, one of the big fears

1398
01:08:29.199 --> 01:08:33.199
I keep waiting for consolidation. I think these stocks, these

1399
01:08:33.399 --> 01:08:37.079
charging company stocks, would be a great acquisition for an

1400
01:08:37.119 --> 01:08:42.399
oil company because in Japan. Get this, In Japan, Toyota

1401
01:08:42.880 --> 01:08:47.680
is working with Japan's largest oil company to produce a

1402
01:08:47.760 --> 01:08:51.319
solid state battery. Solid state battery is rumored to have

1403
01:08:51.359 --> 01:08:53.720
a seven to eight hundred mile range and charge in

1404
01:08:53.840 --> 01:08:57.560
fifteen minutes. It's a challenge to mass produce it, and

1405
01:08:57.600 --> 01:09:00.439
that's what they're working on. But it's Toyota and the

1406
01:09:00.600 --> 01:09:05.760
largest oil company in Japan. Why well, because twenty years

1407
01:09:05.760 --> 01:09:08.159
from now, I think there's gonna be a lot more

1408
01:09:08.159 --> 01:09:10.800
electric vehicles on the road than there are internal combustion

1409
01:09:10.880 --> 01:09:13.279
cars on the road twenty years from now. And if

1410
01:09:13.319 --> 01:09:15.880
you're an oil company, you ought to see the writing

1411
01:09:15.880 --> 01:09:18.000
on the wall. You ought to see the writing on

1412
01:09:18.039 --> 01:09:22.239
the wall. And what better time to prepare for that

1413
01:09:23.199 --> 01:09:26.439
then now? Yeah, I mean, if you can own no

1414
01:09:26.560 --> 01:09:29.960
Tesla course has the biggest charging network around. But if

1415
01:09:30.000 --> 01:09:34.720
you and these these secondary chargers, charging stations. They're just

1416
01:09:34.840 --> 01:09:37.399
not catching out. Like you go to a hotel, you'd

1417
01:09:37.439 --> 01:09:38.960
expect to see four or five of them in the

1418
01:09:39.000 --> 01:09:42.439
parking lot, and you will, but right now, no, they're

1419
01:09:42.479 --> 01:09:45.199
not there yet. So it's just it's been a slow

1420
01:09:45.239 --> 01:09:47.720
adoption process, you know, something of it looks like you're

1421
01:09:47.720 --> 01:09:48.399
doing some research.

1422
01:09:48.479 --> 01:09:50.479
Yeah, did you guys see what Mark? What happened to

1423
01:09:50.479 --> 01:09:54.319
Mark Zuckerberg on Friday? No, he became the second wealthiest

1424
01:09:54.319 --> 01:09:56.800
person in the world. Who do you think he's pasted.

1425
01:09:57.600 --> 01:10:00.000
Second wealthiest person who already passed Elon Musk.

1426
01:10:00.239 --> 01:10:01.359
No, that's number one.

1427
01:10:01.560 --> 01:10:04.000
That's the French to that French is number one.

1428
01:10:05.079 --> 01:10:08.720
No changes the Yahoo Finance Mark Zuckerberg is now the

1429
01:10:08.760 --> 01:10:11.399
second wealthiest person in the world for passing Amazon founder

1430
01:10:11.439 --> 01:10:14.359
Jeff Bezos. And that's not right. Muscle's number one.

1431
01:10:14.399 --> 01:10:15.920
I don't think that's right. I think the guy that

1432
01:10:16.199 --> 01:10:17.199
what's the name of the company.

1433
01:10:17.680 --> 01:10:19.199
Yeah, well he owns like thirty six.

1434
01:10:19.680 --> 01:10:20.479
It's a French guy.

1435
01:10:20.520 --> 01:10:23.359
He owns Gucci, he owns all those crazy things on

1436
01:10:23.399 --> 01:10:24.119
the number of.

1437
01:10:26.720 --> 01:10:27.000
Figure.

1438
01:10:27.079 --> 01:10:28.840
More importantly, I was just trying to get the fact

1439
01:10:28.840 --> 01:10:31.159
that Meta is a don't all time high and they're

1440
01:10:31.239 --> 01:10:33.359
near six hundred dollars to share, five hundred and ninety

1441
01:10:33.520 --> 01:10:35.199
five hundred ninety five dollars to share.

1442
01:10:35.319 --> 01:10:37.439
That is what they close that before we get too

1443
01:10:37.479 --> 01:10:40.800
far from the the EV, I wanted to say, based

1444
01:10:40.880 --> 01:10:43.479
on what Tesla's delivering, that's pretty close to what Toyota

1445
01:10:43.560 --> 01:10:46.439
is currently delivering. They're delivering about one hundred ninety thousand,

1446
01:10:46.520 --> 01:10:49.359
two hundred vehicles across all their markets a week.

1447
01:10:49.720 --> 01:10:53.199
So Tesla is delivering about what is delivering well.

1448
01:10:53.399 --> 01:10:57.439
Tesla is doing about one hundred eleven eleven thousand vehicles

1449
01:10:57.479 --> 01:10:57.840
per week.

1450
01:10:58.039 --> 01:11:00.680
Yeah, I think the last last quarter, the last quarter

1451
01:11:00.880 --> 01:11:04.239
was what's four hundred and seventy one thousand shares for

1452
01:11:04.359 --> 01:11:05.239
under seventy thousand.

1453
01:11:05.439 --> 01:11:06.760
They did a lot last quarter.

1454
01:11:06.560 --> 01:11:08.920
On seventy thousand vehicles, which was down a little bit.

1455
01:11:09.399 --> 01:11:11.760
But let's say five hundred thousand a quarter.

1456
01:11:12.079 --> 01:11:14.960
Not quite where like the biggest oil I mean and

1457
01:11:15.359 --> 01:11:18.600
combustion creators are, but they're they're way higher. And like

1458
01:11:18.600 --> 01:11:21.439
you said, in terms of any other EV company, it's

1459
01:11:21.439 --> 01:11:22.000
not even close.

1460
01:11:22.079 --> 01:11:24.000
Nobody's even close. And that's what that again. When I

1461
01:11:24.359 --> 01:11:28.600
decided to give the whole EV thing a run, it

1462
01:11:28.640 --> 01:11:31.239
was not any kind of social or political statement. I

1463
01:11:31.279 --> 01:11:33.319
just wanted to see what this. I like technology, I

1464
01:11:33.359 --> 01:11:34.520
just want to see what it was all about.

1465
01:11:34.560 --> 01:11:37.920
And you know, twenty five to thirty percent of total

1466
01:11:37.960 --> 01:11:42.279
oil consumption comes from passenger vehicles alone, so as that

1467
01:11:42.399 --> 01:11:46.000
continues to go away, it would impact some oil companies.

1468
01:11:46.199 --> 01:11:48.520
We'll be back with another segment of The Money Matter

1469
01:11:48.560 --> 01:11:51.840
Show and with our special guests. Stay tuned. Could be interesting.

1470
01:11:52.960 --> 01:11:55.359
Welcome back to The Money Matter Show. My name is Toddlick.

1471
01:11:55.399 --> 01:11:57.640
I'm here with Sebastiports Senior and David Sherwin, and we

1472
01:11:57.720 --> 01:12:00.680
also have our special guests, Patrick Quickly of the Q

1473
01:12:00.800 --> 01:12:04.319
and a group. It's a very intense time going into

1474
01:12:04.399 --> 01:12:07.399
the October season where it's open enrollment season.

1475
01:12:07.880 --> 01:12:12.159
That's an understatement. Yeah, we say October first, just you

1476
01:12:12.239 --> 01:12:14.640
kiss your wife and your kids goodbye, and you say

1477
01:12:14.880 --> 01:12:15.920
i'll see you in December.

1478
01:12:16.279 --> 01:12:19.199
It's kind of like kind of your tax season, right, that's.

1479
01:12:19.159 --> 01:12:20.680
What it's just like tax season.

1480
01:12:20.720 --> 01:12:22.279
Yeah, it's just crazy.

1481
01:12:22.359 --> 01:12:24.119
And for those who don't I'm sorry, well I was

1482
01:12:24.119 --> 01:12:26.159
just going to say those who don't know, that's open enrollment.

1483
01:12:26.279 --> 01:12:28.319
That's where you get there one time a year where

1484
01:12:28.319 --> 01:12:30.199
you can make a switch. So that's why it's such

1485
01:12:30.199 --> 01:12:30.840
a big deal.

1486
01:12:31.119 --> 01:12:34.199
Seventy seven million Americans in fifty six days have to

1487
01:12:34.239 --> 01:12:35.960
look at their insurance and go do I stay or

1488
01:12:36.640 --> 01:12:39.359
do I do something different? So what we're doing is

1489
01:12:39.359 --> 01:12:41.920
reviewing everybody and then you know new people helping them.

1490
01:12:41.920 --> 01:12:42.399
Figure it out.

1491
01:12:42.439 --> 01:12:45.079
People aging in, which is an expression for turning sixty five?

1492
01:12:45.279 --> 01:12:49.359
Right, Yeah, what would prompt you to do something different?

1493
01:12:49.359 --> 01:12:52.960
If you're on Medicare and you're happy, Well.

1494
01:12:52.800 --> 01:12:55.800
There's big changes coming this year with prescription coverage because

1495
01:12:55.840 --> 01:12:59.680
of the Inflation Reduction Act. Most of our educational workshops

1496
01:13:00.880 --> 01:13:04.720
are a brief introduction about how Medicare works, but the

1497
01:13:04.760 --> 01:13:08.359
majority is really about Part D. I can tell you

1498
01:13:08.439 --> 01:13:11.920
I've been doing this since nineteen ninety three and I

1499
01:13:12.000 --> 01:13:15.920
can't remember a time where a change is going to

1500
01:13:15.960 --> 01:13:20.479
have so much disruption than what's going on for twenty

1501
01:13:20.520 --> 01:13:22.680
twenty five and going forward.

1502
01:13:22.800 --> 01:13:26.800
So tell us about disruption? What kind of disruption?

1503
01:13:27.239 --> 01:13:29.840
Well, as you guys know, in August of twenty two,

1504
01:13:29.880 --> 01:13:32.159
the government passed the Inflation Reduction Act. It was I

1505
01:13:32.159 --> 01:13:35.319
think like a three quarter trillion dollar bill. It was

1506
01:13:35.520 --> 01:13:37.520
kind of had a little bit of everything in there,

1507
01:13:37.600 --> 01:13:40.279
right for everybody. There's a portion of it for people

1508
01:13:40.279 --> 01:13:42.760
on Medicare, and I can tell you it came out

1509
01:13:43.079 --> 01:13:45.800
in August of twenty two, So the fall of twenty

1510
01:13:45.800 --> 01:13:48.159
two we were talking to people about twenty twenty three

1511
01:13:48.199 --> 01:13:52.119
and we were excited about that bill because on the surface,

1512
01:13:52.159 --> 01:13:53.880
there's a lot of good things in there, and they

1513
01:13:53.920 --> 01:13:57.520
still are, but it's not great for everybody, and there

1514
01:13:57.560 --> 01:14:00.920
are going to be changes that aren't good for people.

1515
01:14:01.439 --> 01:14:05.520
And this year especially, even if you think I got

1516
01:14:05.560 --> 01:14:07.479
the greatest plan, I love it. It's been good to me.

1517
01:14:08.520 --> 01:14:11.039
You better go check your prescriptions. You better check your plan.

1518
01:14:11.119 --> 01:14:13.079
And if you don't know how to, if you need assistance,

1519
01:14:13.479 --> 01:14:15.399
you know we do that for everyone. It's it's you

1520
01:14:15.399 --> 01:14:16.680
could call in. We just do it over the phone.

1521
01:14:16.720 --> 01:14:19.920
You have a nice day, but you're gonna get caught

1522
01:14:20.720 --> 01:14:23.520
red handed if you don't do something or at least

1523
01:14:23.600 --> 01:14:24.840
check it out, make sure it's okay.

1524
01:14:25.039 --> 01:14:28.439
So there are actually so you're saying that some drugs

1525
01:14:28.560 --> 01:14:31.359
might not be covered that we're covered before that kind

1526
01:14:31.399 --> 01:14:33.720
of you where you well, so if you got a

1527
01:14:33.760 --> 01:14:35.920
few minutes, let me just have you know.

1528
01:14:36.239 --> 01:14:37.920
There's some of the things you've already heard about through

1529
01:14:37.920 --> 01:14:40.199
the Inflation and Reduction Act, and they've been on TV

1530
01:14:40.560 --> 01:14:44.520
like reducing the cost of in insulin to thirty five dollars. So,

1531
01:14:44.520 --> 01:14:46.920
if you're on a drug plan or something like that,

1532
01:14:46.920 --> 01:14:49.079
that formulay, which is the book that contains all the

1533
01:14:49.159 --> 01:14:54.199
prescriptions covered, whatever that insurance company provides for insulin, they

1534
01:14:54.199 --> 01:14:56.640
can't charge more than thirty five dollars. That's that's good news.

1535
01:14:56.640 --> 01:14:58.520
That's really good news. There's no bad news to that.

1536
01:14:58.560 --> 01:14:59.920
I don't see.

1537
01:15:00.279 --> 01:15:00.760
That's one.

1538
01:15:01.520 --> 01:15:01.920
Two.

1539
01:15:02.399 --> 01:15:06.439
You know today, if you're on a drug plan on Medicare,

1540
01:15:06.920 --> 01:15:09.760
your maximum out of pocket for the calendar year is

1541
01:15:09.880 --> 01:15:13.079
eight thousand dollars, meaning once you spend out of your

1542
01:15:13.079 --> 01:15:16.560
pocket eight thousand dollars, then from there on, Medicare picks

1543
01:15:16.640 --> 01:15:17.680
up one hundred percent of the cost.

1544
01:15:17.960 --> 01:15:20.359
No more donut hole, right, donut hole is gone.

1545
01:15:20.399 --> 01:15:22.119
I can't believe that I grew up with the donut hole.

1546
01:15:22.159 --> 01:15:24.800
It's not going to bet around anymore. It's it's the

1547
01:15:24.840 --> 01:15:28.239
coverage cap, the coverage gap. It sounds official, doesn't it. Yeah,

1548
01:15:28.600 --> 01:15:33.600
donut hole sounded sweet sweet about it. So there's about

1549
01:15:33.600 --> 01:15:38.000
twenty five percent of Americans on Medicare that hit that

1550
01:15:38.039 --> 01:15:38.840
out of pocket cap.

1551
01:15:38.840 --> 01:15:41.199
Of eight thousand dollars. It's a big really, that many

1552
01:15:41.239 --> 01:15:43.720
it's a big deal. And that's just just Plan D

1553
01:15:44.079 --> 01:15:45.640
that's just prescription drugs.

1554
01:15:45.319 --> 01:15:48.720
Just prescription drugs, and it's just for this year. Last

1555
01:15:48.760 --> 01:15:51.479
year was about seven and this year it's eight. Well

1556
01:15:51.520 --> 01:15:55.039
starting next year, that cap, that out of pocket cap

1557
01:15:55.439 --> 01:16:00.279
is two thousand dollars, and most of us would sidergo, wow,

1558
01:16:00.319 --> 01:16:03.720
that's great, and it is great, but somebody's got to

1559
01:16:03.720 --> 01:16:08.239
pay for it. And who's paying for it the consumer indirectly.

1560
01:16:08.359 --> 01:16:11.960
So this year under eight thousand, when someone hit the

1561
01:16:12.279 --> 01:16:17.159
out of pocket maximum, eighty percent of the cost outside

1562
01:16:17.239 --> 01:16:19.640
the coverage, which would be one hundred percent covered for

1563
01:16:19.760 --> 01:16:23.800
the beneficiary. Out of that one hundred percent, Medicare is

1564
01:16:23.840 --> 01:16:27.800
paying eighty percent of it, and the plan, the insurance

1565
01:16:27.800 --> 01:16:30.800
plan they have, is paying twenty percent. Well, now fast

1566
01:16:30.880 --> 01:16:33.720
forward January first, twenty twenty five. Now the out of

1567
01:16:33.760 --> 01:16:39.960
pocket caps two thousand. The plan, instead of paying twenty percent,

1568
01:16:40.199 --> 01:16:44.560
is paying sixty percent, and Medicare, who is paying eighty percent,

1569
01:16:45.079 --> 01:16:50.039
they're only paying twenty percent. So the story is they've

1570
01:16:50.119 --> 01:16:53.920
dumped the cost on the plan. And I just got

1571
01:16:54.119 --> 01:16:55.479
you know, before I got here, I was doing a

1572
01:16:55.479 --> 01:16:57.960
workshop for people explaining this to you, and you know,

1573
01:16:58.159 --> 01:17:00.520
I joke about it. I say, you know, those insurance companies,

1574
01:17:00.760 --> 01:17:03.199
they're nonprofits. They're just doing it for goodwill, and they're

1575
01:17:03.239 --> 01:17:05.239
just going to absorb those costs. Well, no they're not.

1576
01:17:05.560 --> 01:17:08.960
They're passing it on to the consumer, to the beneficiaries

1577
01:17:08.960 --> 01:17:14.800
in terms of higher deductibles for prescriptions. You know, if

1578
01:17:14.800 --> 01:17:17.800
you're on a standalone prescription plan, because you're on a supplement,

1579
01:17:18.439 --> 01:17:20.680
you pay you know, it's another plan in addition to

1580
01:17:20.720 --> 01:17:22.960
the supplement in your Medicare card. You have a monthly

1581
01:17:23.000 --> 01:17:26.600
premium for that. Usually that premium is the only revenue

1582
01:17:26.640 --> 01:17:31.600
that company gets to provide that service. And so if

1583
01:17:31.600 --> 01:17:35.560
I'm a standalone drug plan company, my costs are going

1584
01:17:35.640 --> 01:17:38.560
up because now I'm paying sixty percent in the catastrophic

1585
01:17:38.640 --> 01:17:42.279
or outside the out of pocket max. I know, I'm

1586
01:17:42.279 --> 01:17:45.520
probably getting into the weeds here too much, but they

1587
01:17:46.119 --> 01:17:48.279
got to find a way to get that recuperate that money.

1588
01:17:48.520 --> 01:17:51.760
And so the deductibles are going up, Premiums for the

1589
01:17:51.800 --> 01:17:56.159
plans are going up. The formulary, which is the book

1590
01:17:56.199 --> 01:18:00.239
that says these are the prescriptions, are getting constricted. What

1591
01:18:00.279 --> 01:18:02.439
you're seeing is is when you do a drug plan

1592
01:18:02.520 --> 01:18:05.880
by a health insurance company, they're required by Medicare that

1593
01:18:06.000 --> 01:18:09.079
every drug category they have to offer a minimum of

1594
01:18:09.079 --> 01:18:11.600
two drugs. Most of them up to now have been

1595
01:18:11.640 --> 01:18:15.199
offering six, eight, ten, twelve options within that category. What

1596
01:18:15.279 --> 01:18:18.079
you're seeing now is they're going to start coming back

1597
01:18:18.119 --> 01:18:22.159
down to that minimum requirement of two. So it's getting

1598
01:18:22.199 --> 01:18:24.600
a lot more constricted.

1599
01:18:24.720 --> 01:18:26.920
Will the network gets smaller too, The.

1600
01:18:26.680 --> 01:18:29.800
Pharmacy network is going to get smaller. There's cost controls

1601
01:18:29.840 --> 01:18:30.479
which some of you.

1602
01:18:30.520 --> 01:18:31.079
Probably have heard of.

1603
01:18:31.199 --> 01:18:33.960
It's called like a prior authorization for a prescription, or

1604
01:18:34.039 --> 01:18:38.239
step therapy for a prescription, or quantity limits. You're going

1605
01:18:38.319 --> 01:18:41.319
to start when you hear they call it utilization, and

1606
01:18:41.399 --> 01:18:43.560
what it is is really cost control. You're going to

1607
01:18:43.600 --> 01:18:48.359
see more drugs having those things placed on them, so

1608
01:18:48.520 --> 01:18:52.119
the carrier, the insurance provider can control costs.

1609
01:18:52.399 --> 01:18:54.279
And so for those who are on Medicare advantage, obviously

1610
01:18:54.279 --> 01:18:55.640
they're not going to just all of a sudden get

1611
01:18:55.680 --> 01:18:59.600
a bill. It's still covered, but the options that you

1612
01:18:59.720 --> 01:19:01.159
have get decreased.

1613
01:19:01.439 --> 01:19:04.319
Well, so let's let's first that's a good point. So

1614
01:19:04.439 --> 01:19:08.880
let's look at the people that are on supplements and

1615
01:19:08.920 --> 01:19:12.399
a standalone drug plan. If you went on Medicare DOT

1616
01:19:12.439 --> 01:19:16.399
of today and pulled up plans available to you today

1617
01:19:16.560 --> 01:19:20.079
for standalone prescription plans, people on supplements, the choice, the

1618
01:19:20.159 --> 01:19:24.600
selection is about twenty three plans. They came out October one,

1619
01:19:24.840 --> 01:19:28.000
just the other day. For all the plans for twenty

1620
01:19:28.079 --> 01:19:32.520
twenty five, I'm finding like seven or eight, so over

1621
01:19:32.560 --> 01:19:34.960
a fifty percent reduction. A lot of the carriers that

1622
01:19:34.600 --> 01:19:37.520
we're not doing it anymore, or I had five, we

1623
01:19:37.520 --> 01:19:40.039
were offering five different plans were down to one or two.

1624
01:19:41.600 --> 01:19:44.560
And so you're seeing a constriction of plans, You're seeing

1625
01:19:44.560 --> 01:19:47.840
a constriction of the prescriptions. You're seeing more cost control

1626
01:19:47.920 --> 01:19:52.960
on the formularies. What we haven't seen is a dramatic

1627
01:19:53.079 --> 01:19:56.119
increase in the premium yet on the standalone program.

1628
01:19:56.159 --> 01:19:58.560
Okay, what were you have? Path? Sorry, don't mean why

1629
01:19:58.560 --> 01:20:00.840
would you have a standalone program? Why wouldn't you should

1630
01:20:00.840 --> 01:20:04.479
be in Plan F or Plan G or or Medicare advantage.

1631
01:20:04.680 --> 01:20:09.520
Well, so you know Medicare advantage plans are different than supplements, right,

1632
01:20:09.640 --> 01:20:11.680
so if you're on a supplement.

1633
01:20:11.439 --> 01:20:12.760
Wasn't a supplement gn F?

1634
01:20:12.960 --> 01:20:16.960
Yeah, GF, And yeah they don't that that supplement does

1635
01:20:17.000 --> 01:20:21.640
not cover prescriptions, and so if I'm doing a supplement,

1636
01:20:21.760 --> 01:20:24.640
I also have to get a standalone Part D plan

1637
01:20:25.239 --> 01:20:28.239
with the advantage plans. The vast majority of Medicare advantage

1638
01:20:28.239 --> 01:20:31.119
plans Part D is built in right, so I don't

1639
01:20:31.159 --> 01:20:33.239
need to go out and get another plan. What we're

1640
01:20:33.239 --> 01:20:35.359
seeing on advantage plans, they have a little bit more

1641
01:20:35.439 --> 01:20:38.399
latitude with a full broad plan to spread the costs

1642
01:20:38.439 --> 01:20:41.199
of the new costs with this new bill. Right, with

1643
01:20:41.279 --> 01:20:43.239
a standalone drug plans, it's just premium. I got to

1644
01:20:43.319 --> 01:20:43.880
raise premium.

1645
01:20:43.880 --> 01:20:46.920
Why would anyone do plan? Now? When I first came

1646
01:20:46.960 --> 01:20:49.880
on Medicare a while back, I did plan. I wanted

1647
01:20:49.880 --> 01:20:52.079
the Cadillac right, so it gave me a planet fye,

1648
01:20:52.239 --> 01:20:56.520
which was just stupid. It's all uh, it's all income based.

1649
01:20:56.640 --> 01:20:58.720
I was paying like eight hundred bucks a month. So

1650
01:21:00.479 --> 01:21:02.399
fast forward to a year and a half or so,

1651
01:21:03.479 --> 01:21:05.359
got to the open enrollment, and I started looking to

1652
01:21:05.399 --> 01:21:07.479
go this Medicare advantage. I think I want to try

1653
01:21:07.520 --> 01:21:09.840
that for Yeah, it's like a gift from God. I mean,

1654
01:21:09.960 --> 01:21:12.840
I've got prescription coverage, I've got dental coverage, and I

1655
01:21:12.880 --> 01:21:20.760
pay nothing. Why would anyone do anything other than that well.

1656
01:21:19.399 --> 01:21:22.880
Because there's what's that international coverage for one.

1657
01:21:22.640 --> 01:21:24.680
Well, but some of the advantage plans do as well.

1658
01:21:26.119 --> 01:21:29.479
More flexibility and a supplement. So if I'm on a supplement,

1659
01:21:29.800 --> 01:21:31.720
I can see any doctor, any hospital anywhere in the

1660
01:21:31.800 --> 01:21:33.720
United States as long as they accept Medicare.

1661
01:21:34.159 --> 01:21:35.000
The last time I.

1662
01:21:35.000 --> 01:21:38.199
Checked, there's about ninety eight percent of doctors and providers

1663
01:21:38.520 --> 01:21:42.119
that are on Medicare, So you can almost go see

1664
01:21:42.159 --> 01:21:45.560
anyone with an advantage plan. You know, it's like your

1665
01:21:45.600 --> 01:21:47.880
insurance when you're working with your employer, right you have

1666
01:21:47.920 --> 01:21:50.199
to make sure your doctors take the plan, what's the network,

1667
01:21:50.239 --> 01:21:54.119
and things like that. So it's a little bit easier

1668
01:21:54.159 --> 01:21:57.960
and less worry of some sometimes with a supplement.

1669
01:21:58.319 --> 01:22:01.000
But my wife and I have never had a doctor

1670
01:22:01.079 --> 01:22:03.880
say no exactly to Medicare of vanity.

1671
01:22:04.000 --> 01:22:06.239
You know, in Pima County, I think there're seventeen or

1672
01:22:06.279 --> 01:22:11.079
eighteen insurance companies providing advantage plans, which then if you

1673
01:22:11.079 --> 01:22:13.399
combine those, it's about eighty to one hundred different Medicare

1674
01:22:13.399 --> 01:22:15.359
advantage plants to choose from. There's a lot of choices.

1675
01:22:16.479 --> 01:22:20.239
Some of them are a rated what I'll use a phrase,

1676
01:22:20.279 --> 01:22:22.760
you guys know very well, are blue chips, right, and

1677
01:22:22.800 --> 01:22:24.720
that's going to be the everyone we know the ETNA,

1678
01:22:24.800 --> 01:22:27.479
the SIGNA Humanity United blue Cross, blue shield, right, we

1679
01:22:27.520 --> 01:22:29.960
all know that they have national recognition. Those are the

1680
01:22:29.960 --> 01:22:32.319
blue chip guys. And then there's other carriers that some

1681
01:22:32.359 --> 01:22:37.399
of you guys haven't heard of, you know, Devoted, Gold, Kidney,

1682
01:22:37.720 --> 01:22:39.359
a bunch of different ones you haven't heard of. I

1683
01:22:39.359 --> 01:22:42.640
would call those kind of like the second tier type plans.

1684
01:22:43.199 --> 01:22:46.319
The blue chip guys, you know, especially somebody like an

1685
01:22:46.359 --> 01:22:50.760
ETNA human Are United. You know, they have enormous networks locally,

1686
01:22:51.119 --> 01:22:55.479
they contract with everybody, and they have what we call

1687
01:22:55.760 --> 01:22:59.760
national Medicare provider networks and so and that answer was

1688
01:22:59.760 --> 01:23:02.039
to supplements because I could go anywhere in the United States.

1689
01:23:02.079 --> 01:23:04.199
So with these advantage plans, with national networks, they have

1690
01:23:04.199 --> 01:23:07.439
a little bit more flexibility and freedom. The last time

1691
01:23:07.479 --> 01:23:10.199
I checked out everybody on Medicare, fifty seven percent of

1692
01:23:10.359 --> 01:23:14.039
people on Medicare are on advantage plans nationally.

1693
01:23:14.079 --> 01:23:16.279
Fifty seven is it? That's it? I would think it

1694
01:23:16.319 --> 01:23:17.319
would be much higher.

1695
01:23:17.359 --> 01:23:21.399
Well, but but then the other forty three percent, You've

1696
01:23:21.399 --> 01:23:26.479
got VA, you got Tricare, you've got champ VA. Okay,

1697
01:23:26.560 --> 01:23:30.039
you've got government sponsor, you know, federal employees health benefits plan.

1698
01:23:30.880 --> 01:23:35.479
You've got large corporations that still, although it's a dying breed,

1699
01:23:36.159 --> 01:23:41.119
offering Medicare plans for the retirees. And then you've got supplements.

1700
01:23:41.359 --> 01:23:44.359
Supplements meaning I went out, I went to insurance company,

1701
01:23:44.399 --> 01:23:47.520
I bought a private plan on my own because I

1702
01:23:47.600 --> 01:23:48.840
was on Medicare.

1703
01:23:49.079 --> 01:23:53.720
Okay, what percentage is Plan F and G Ooh that

1704
01:23:53.880 --> 01:23:55.960
I don't know, but yeah, I'll tell you there is

1705
01:23:56.000 --> 01:23:57.520
that might be ten percent or fifty. Yeah.

1706
01:23:57.800 --> 01:24:00.039
Out of the ten different plans to choose from the

1707
01:24:00.079 --> 01:24:01.760
last majority are and.

1708
01:24:01.920 --> 01:24:04.960
I can't imagine why it would be anybody. We were

1709
01:24:05.000 --> 01:24:06.640
coming to the end of the second segment. We'll be

1710
01:24:06.640 --> 01:24:08.359
back with Pat for the last segment. Got a lot

1711
01:24:08.359 --> 01:24:11.800
more questions for him. Fascinating stuff, important stuff, and stuff

1712
01:24:11.840 --> 01:24:13.880
that a lot of us are dealing with. Thanks for

1713
01:24:13.920 --> 01:24:16.079
listening to The Money Matter Show. We'll be right back.

1714
01:24:16.760 --> 01:24:19.880
So welcome back. This is the Money Matter Show. I'm

1715
01:24:19.920 --> 01:24:23.079
here with Todd click Jr. I'm here with Sebastian Borsini,

1716
01:24:23.399 --> 01:24:25.319
Pat Quigley from the Q and a group is here.

1717
01:24:25.359 --> 01:24:28.760
We're talking Medicare and some good stuff. I got to

1718
01:24:28.760 --> 01:24:32.680
ask you, Pat a lot of news this week about Humana.

1719
01:24:32.880 --> 01:24:35.720
Any thoughts about what's going on with Humana. If you

1720
01:24:35.840 --> 01:24:39.800
have an advantage plan with Humana, should you cancel it

1721
01:24:39.880 --> 01:24:42.359
quickly and get something else or well.

1722
01:24:42.079 --> 01:24:44.600
Okay, my comments are going to be based on Arizona.

1723
01:24:44.680 --> 01:24:46.680
That's all I'm asking because the story is different no

1724
01:24:46.680 --> 01:24:49.840
matter what carr you are in, what geographical region or

1725
01:24:49.880 --> 01:24:52.239
state you're in, I can tell you for Humanity here

1726
01:24:52.239 --> 01:24:55.119
in Arizona, they're very strong. They're one the top three

1727
01:24:55.199 --> 01:24:56.760
or four carriers in Arizona.

1728
01:24:57.760 --> 01:24:57.960
There.

1729
01:24:58.119 --> 01:25:01.439
They always do well. They got good benefits, that got

1730
01:25:01.479 --> 01:25:02.239
good network.

1731
01:25:02.760 --> 01:25:04.840
They're very very strong good. So if you have a

1732
01:25:04.920 --> 01:25:07.960
human Medicare advantage plan, don't worry about it.

1733
01:25:08.520 --> 01:25:10.520
Here here's what I'll give you. The quote I said

1734
01:25:10.520 --> 01:25:13.159
at the workshop this morning. If you've got Humana one

1735
01:25:13.199 --> 01:25:15.800
of the other three big guys, unless you're having a

1736
01:25:15.840 --> 01:25:18.560
problem with them, or like your doctor's not taking them

1737
01:25:18.640 --> 01:25:21.640
or your prescription's not covered anymore. If you're happy with them,

1738
01:25:21.800 --> 01:25:24.439
stay put, stay right where you're at. But you still

1739
01:25:24.479 --> 01:25:26.560
need to look at those prescriptions. And if you need

1740
01:25:26.600 --> 01:25:29.039
assistance with it, you know, I'm sure you can give

1741
01:25:29.079 --> 01:25:31.479
out my information and it will help people with that.

1742
01:25:31.920 --> 01:25:34.600
But I wouldn't change Humana just based on what you

1743
01:25:34.600 --> 01:25:35.439
see in the news.

1744
01:25:35.199 --> 01:25:37.159
Now and what the reason we're bringing that up is

1745
01:25:37.159 --> 01:25:39.960
because Humana did get downgraded for those that don't know,

1746
01:25:40.439 --> 01:25:43.279
on rating, which really just means that their quality went

1747
01:25:43.319 --> 01:25:44.880
from four to four and a half stars to three

1748
01:25:44.920 --> 01:25:46.920
and a half stars. And it's kind of I think

1749
01:25:46.960 --> 01:25:49.159
of it kind of like a review. I guess, per

1750
01:25:49.199 --> 01:25:49.960
se when you're in the.

1751
01:25:49.880 --> 01:25:52.520
Four stars kind of investment grade, right, yeah, so I'm

1752
01:25:52.520 --> 01:25:55.000
now it's kind of gone below investment grade rated.

1753
01:25:54.800 --> 01:25:58.079
Like when American debt got downgraded to double A FROMP.

1754
01:25:58.359 --> 01:25:59.880
You know, that's type of thing.

1755
01:26:00.119 --> 01:26:02.800
Yeah, they get reviewed every year the star ratings come out.

1756
01:26:02.880 --> 01:26:04.920
You know, the vast majority of the metrics to get

1757
01:26:04.960 --> 01:26:07.600
that star rating have to do with quality care, but

1758
01:26:07.640 --> 01:26:12.960
most importantly customer service complaints. People aren't get taken care

1759
01:26:12.960 --> 01:26:17.359
of as well as they should be. But I have

1760
01:26:17.479 --> 01:26:19.399
not heard that in Arizona.

1761
01:26:18.880 --> 01:26:21.039
And you were mentioning in the break that possibly some

1762
01:26:21.079 --> 01:26:23.159
of those goodies that we've come to known from these

1763
01:26:23.199 --> 01:26:25.560
Medicare advantage or other plans, they are not going to

1764
01:26:25.560 --> 01:26:28.479
be around because of these increased costs that you're just

1765
01:26:28.479 --> 01:26:29.600
not gonna be able to offer them.

1766
01:26:29.640 --> 01:26:30.760
Correct. Correct.

1767
01:26:31.640 --> 01:26:34.680
We went back and looked in ten years up until

1768
01:26:35.319 --> 01:26:39.239
this coming year. The last ten years, this time of

1769
01:26:39.239 --> 01:26:42.840
the year, early October, we got to see the benefits.

1770
01:26:42.359 --> 01:26:43.039
For next year.

1771
01:26:43.239 --> 01:26:47.319
The last ten years, it's always been an improvement, always,

1772
01:26:47.640 --> 01:26:52.640
and we've gotten spoiled. The Medicare beneficiaries have gotten spoiled.

1773
01:26:53.039 --> 01:26:55.199
And this is a first time in ten years for

1774
01:26:55.359 --> 01:27:03.079
next year that there's been some decreasing benefits. Some of

1775
01:27:03.119 --> 01:27:05.600
them not very dramatic. You know, maybe a coope goes

1776
01:27:05.600 --> 01:27:08.239
from ten to five. But it's the first year where

1777
01:27:08.239 --> 01:27:10.159
we're not going, oh my goodness, look at these benefits.

1778
01:27:10.159 --> 01:27:10.960
They're amazing.

1779
01:27:12.039 --> 01:27:12.800
And that's been ten.

1780
01:27:12.760 --> 01:27:15.319
Years, and understanding that's primarily a result of the so

1781
01:27:15.439 --> 01:27:19.720
called Inflation Reduction Act primarily is what caused that. When

1782
01:27:19.720 --> 01:27:23.079
I first signed up for Medicare again, I said in

1783
01:27:23.119 --> 01:27:25.479
the earlier segment, I wanted to Cadillac, so put me

1784
01:27:25.520 --> 01:27:29.520
in Plan F as in Frank, and I rode that

1785
01:27:29.840 --> 01:27:31.760
car for a couple of years until I realized that

1786
01:27:31.800 --> 01:27:36.680
Medicare advantage is where you want to be in Arizona.

1787
01:27:36.720 --> 01:27:40.079
My question, Plan F has been closed you cannot go

1788
01:27:40.159 --> 01:27:45.319
into Plan F now has become Plan G. My understanding,

1789
01:27:45.479 --> 01:27:48.000
Pat Craig, me if I'm wrong. If you have Plan F,

1790
01:27:48.159 --> 01:27:51.479
you probably ought to use this window to move to

1791
01:27:51.560 --> 01:27:51.960
Plan G.

1792
01:27:53.520 --> 01:27:55.920
Well, first of all, it's not closed. It's just closed

1793
01:27:55.920 --> 01:27:59.800
to those turning sixty five January first, twenty twenty or

1794
01:27:59.800 --> 01:28:03.520
one later. If you were sixty five before then, you

1795
01:28:03.560 --> 01:28:05.800
can still sign up for an F if you want to,

1796
01:28:05.960 --> 01:28:08.760
but you don't want to, or if you were on

1797
01:28:08.880 --> 01:28:11.039
an F you can keep that F, but I would

1798
01:28:11.039 --> 01:28:12.880
recommend changing it now.

1799
01:28:12.760 --> 01:28:14.960
And you don't want to to explain why you don't

1800
01:28:14.960 --> 01:28:17.840
want to if you don't have F, why you don't

1801
01:28:17.840 --> 01:28:19.159
want to get into F.

1802
01:28:19.520 --> 01:28:22.680
Well, so, because F has been you know, not available

1803
01:28:22.760 --> 01:28:25.920
now for the last four years, going five years now

1804
01:28:25.960 --> 01:28:30.399
coming up, the costs have gone up. The premium costs

1805
01:28:30.399 --> 01:28:35.239
have gone up dramatically, So real quick F covers one

1806
01:28:35.279 --> 01:28:37.960
hundred percent of everything that you would be responsible to

1807
01:28:38.039 --> 01:28:41.840
pay when using Medicare because there's some gaps like deductibles

1808
01:28:41.840 --> 01:28:44.399
and co insurance, and F would pay one hundred percent

1809
01:28:44.439 --> 01:28:46.760
of everything. So between your Medicare card and the F card,

1810
01:28:46.880 --> 01:28:49.640
you had no out of pocket expenses okay, and that's

1811
01:28:49.680 --> 01:28:52.399
why that was the Cadillac. The G, as you mentioned,

1812
01:28:52.439 --> 01:28:55.079
was the next one down. The G is just like F,

1813
01:28:55.399 --> 01:28:57.600
covered one hundred percent of everything that you'd be required

1814
01:28:57.600 --> 01:29:02.239
to pay accept the part be deductible of two hundred

1815
01:29:02.239 --> 01:29:04.800
and forty dollars. So the only difference between F and

1816
01:29:04.840 --> 01:29:06.760
G is that two hundred and forty dollars deductible.

1817
01:29:07.319 --> 01:29:09.560
Except the premium on F is a lot higher than

1818
01:29:09.600 --> 01:29:12.159
the premium on The annualized.

1819
01:29:11.520 --> 01:29:15.720
Premium of an F is generally about one thousand dollars

1820
01:29:15.720 --> 01:29:18.399
more than the G. So if I'm on an F,

1821
01:29:18.520 --> 01:29:20.640
I'm paying one thousand dollars to save two.

1822
01:29:20.560 --> 01:29:23.199
Hundred and forty dollars, right, And that's that's because F

1823
01:29:23.279 --> 01:29:27.960
has been closed to the point where the only people

1824
01:29:27.960 --> 01:29:30.119
that are still in F are people that can't go

1825
01:29:30.159 --> 01:29:31.439
anywhere else. Right.

1826
01:29:32.279 --> 01:29:35.399
So, you know, once you get out of your guaranteed

1827
01:29:35.439 --> 01:29:37.960
issue for supplement, which is the first six months of

1828
01:29:37.960 --> 01:29:39.960
being on B, if you wanted to get on a

1829
01:29:40.000 --> 01:29:41.680
F or change to a different F, you have to

1830
01:29:41.720 --> 01:29:44.760
be medically qualified to do so. So the people that

1831
01:29:44.840 --> 01:29:47.600
are on F still if they don't know about and

1832
01:29:47.680 --> 01:29:50.199
were still running people that don't know about this, they think, oh,

1833
01:29:50.239 --> 01:29:53.600
I'm still on the best plan, but on the F

1834
01:29:54.399 --> 01:29:57.920
they need to qualify and they're not eligible. So which

1835
01:29:57.960 --> 01:30:00.560
you end up you have a class a pool of

1836
01:30:00.720 --> 01:30:04.319
unhealthy people. And so when in F in F and

1837
01:30:04.319 --> 01:30:06.319
so when the Carrie looks at the rates, they're going,

1838
01:30:06.479 --> 01:30:08.399
oh my god, our claims are way up because it's

1839
01:30:08.439 --> 01:30:12.239
mostly sick people. And so you're seeing double digit increases

1840
01:30:12.279 --> 01:30:16.279
on F each year, where you're seeing small single digit

1841
01:30:16.319 --> 01:30:17.800
increases for G and N.

1842
01:30:17.960 --> 01:30:21.000
Because you don't have that same problem in G. Right now,

1843
01:30:21.039 --> 01:30:21.840
I will tell you.

1844
01:30:21.680 --> 01:30:25.119
You can change your supplement anytime during the year, you.

1845
01:30:25.039 --> 01:30:27.439
Know, Okay, So I can change the F from F

1846
01:30:27.439 --> 01:30:31.199
to G in June. Yeah, okay, I didn't know that. Qualify, Right,

1847
01:30:31.279 --> 01:30:34.359
You're gonna have to medically qualify qualify. That's why F

1848
01:30:34.479 --> 01:30:36.359
is so bad, because people are stuck there.

1849
01:30:36.479 --> 01:30:38.399
Yeah, well, all the plans you have to qualify for.

1850
01:30:38.479 --> 01:30:40.079
But most people don't want to get off G. Nobody

1851
01:30:40.119 --> 01:30:40.840
wants to get off END.

1852
01:30:40.880 --> 01:30:43.199
If you're medically qualified to get off of F, get

1853
01:30:43.239 --> 01:30:43.720
off of F.

1854
01:30:44.000 --> 01:30:47.279
Absolutely, you do not want to be on F. And

1855
01:30:47.319 --> 01:30:49.119
I still get people even though this law is five

1856
01:30:49.159 --> 01:30:51.600
years ago. Say my neighbor told me I should get

1857
01:30:51.600 --> 01:30:53.439
on f it's the best thing and it's the worst thing.

1858
01:30:53.720 --> 01:30:55.760
So with this Inflation Reduction Act, does it seem like

1859
01:30:55.800 --> 01:30:58.000
it's pushing people away from the supplements and to just

1860
01:30:58.119 --> 01:30:59.880
be on advantage because it seems like the better.

1861
01:31:01.039 --> 01:31:02.840
Well, I think we're you are going to see some

1862
01:31:02.880 --> 01:31:06.239
people on the supplements when they see what their Part

1863
01:31:06.319 --> 01:31:08.720
D drug plans look like and then go, oh, this

1864
01:31:08.760 --> 01:31:12.159
is getting ridiculous, and so they're going to start going, okay,

1865
01:31:12.239 --> 01:31:14.119
is it cost effective? So I think we are going

1866
01:31:14.159 --> 01:31:16.239
to see a migration I don't know how big, from

1867
01:31:16.279 --> 01:31:20.359
people with supplements to advantage plans. And I'll tell you also,

1868
01:31:20.520 --> 01:31:22.279
you know I've been doing this thirty years. There are

1869
01:31:22.319 --> 01:31:25.960
still people out there that know nothing about a Medicare

1870
01:31:25.960 --> 01:31:28.199
advantage plan. And I'm not going to say one's better

1871
01:31:28.239 --> 01:31:30.479
than the other. Here's what I tell people. They're both good.

1872
01:31:31.239 --> 01:31:33.920
One's better, but it depends on what your needs are.

1873
01:31:34.279 --> 01:31:37.079
So for one somebody could be the supplements better and

1874
01:31:37.079 --> 01:31:38.640
for another person the advantage.

1875
01:31:38.279 --> 01:31:39.000
Plant could be better.

1876
01:31:39.079 --> 01:31:41.560
But they're very each of them are good options.

1877
01:31:42.039 --> 01:31:44.800
The vast majority of people, it seems like the advantage

1878
01:31:45.079 --> 01:31:48.439
does the job. I mean, what would be the markers

1879
01:31:48.520 --> 01:31:50.560
or indicators for you where you're saying, that's where you

1880
01:31:50.560 --> 01:31:52.640
should probably look into a Here's what I will.

1881
01:31:52.520 --> 01:31:57.199
Tell you why I find most people happy with their choices,

1882
01:31:57.279 --> 01:31:59.119
whether it's a supplement or advantage plan. But on the

1883
01:31:59.159 --> 01:32:01.239
advantage plan, all you need to look at is the

1884
01:32:01.279 --> 01:32:03.920
growth in Arizona with the number of carriers and a

1885
01:32:03.960 --> 01:32:07.720
number of plans, the benefits and everything you look at,

1886
01:32:07.760 --> 01:32:11.840
just the total enrollment on advantage plans, it keeps continually

1887
01:32:11.840 --> 01:32:15.279
going up percentage wise of the pool for people in Medicare.

1888
01:32:18.199 --> 01:32:21.800
That is specifically because Medicare advantage in Arizona is better

1889
01:32:21.840 --> 01:32:24.479
than some other states. So it's not it's state by state,

1890
01:32:24.760 --> 01:32:28.600
and obviously it's situation by situation, but there's no like

1891
01:32:28.720 --> 01:32:31.520
huge indicator like okay, if you have ten thousand dollars

1892
01:32:31.520 --> 01:32:35.359
of prescription drug costs, maybe you shouldn't be on advantage.

1893
01:32:34.960 --> 01:32:37.760
Or well, good point there. I will tell you nine

1894
01:32:37.800 --> 01:32:40.159
times out of ten when we do a drug evaluation,

1895
01:32:40.279 --> 01:32:41.960
meaning you give me a list your drugs, the dose,

1896
01:32:41.960 --> 01:32:43.359
ho often you take it, and I'll put it into

1897
01:32:43.399 --> 01:32:45.560
the Medicare system and it'll print out a report of

1898
01:32:45.560 --> 01:32:47.920
all the plans available to you least expensive to the

1899
01:32:47.920 --> 01:32:50.399
most expensive. I will tell you nine times out of ten,

1900
01:32:50.479 --> 01:32:52.760
and it might even be higher than that. It's more

1901
01:32:52.840 --> 01:32:56.600
cost effective on your prescription costs on an advantage plan

1902
01:32:57.000 --> 01:32:59.000
than it is on a supplement. And it's easy to

1903
01:32:59.039 --> 01:33:02.560
understand why. Because the advantage plan, just like what's going

1904
01:33:02.600 --> 01:33:05.079
on with the Inflation Reduction Act costs, they have more

1905
01:33:05.079 --> 01:33:08.319
places to spread the costs, and so they do it

1906
01:33:08.359 --> 01:33:12.520
in hospital or other benefits, and so they're able to

1907
01:33:12.520 --> 01:33:14.520
make their prescription costs lower.

1908
01:33:15.159 --> 01:33:20.039
Yeah. So yeah, let me let me ask this question.

1909
01:33:20.479 --> 01:33:23.720
So there are a number of different advantage plans. Let's

1910
01:33:23.760 --> 01:33:30.159
say I have United Healthcare advantage plan and you just

1911
01:33:30.239 --> 01:33:33.199
said the best plan right now? Is that? No? No,

1912
01:33:33.239 --> 01:33:34.159
I didn't or whatever.

1913
01:33:35.319 --> 01:33:36.039
It's one of them.

1914
01:33:36.159 --> 01:33:38.119
I'm saying if you said that, yes, say you said

1915
01:33:38.159 --> 01:33:40.560
to me, sure it's got a better plan, right, Can

1916
01:33:40.600 --> 01:33:43.520
I make that change? Absolutely? Can I? During this window?

1917
01:33:43.640 --> 01:33:46.520
Is it October fifteenth to what Pearl Harbor day?

1918
01:33:47.840 --> 01:33:48.680
Somber seventh?

1919
01:33:49.520 --> 01:33:53.880
Yeah, October fifteenth to Sevember seventh, fifty six days? It is?

1920
01:33:53.920 --> 01:33:54.279
Where?

1921
01:33:55.279 --> 01:33:57.239
And I hope you got time because I want to

1922
01:33:57.239 --> 01:34:01.119
make sure people know this. So October fifteenth through December seventh.

1923
01:34:01.279 --> 01:34:05.920
That's where everyone on Medicare can make a change. Okay,

1924
01:34:05.960 --> 01:34:10.039
after December seventh, if you are on a supplement and

1925
01:34:10.079 --> 01:34:12.159
a stand alone drug plan, you are locked in for

1926
01:34:12.199 --> 01:34:15.680
next year. You can't make any more changes. People on

1927
01:34:15.760 --> 01:34:19.680
an advantage plan have one more enrollment opportunity. It's called

1928
01:34:19.840 --> 01:34:23.920
open enrollment, not annual enrollment. Open enrollment. It's January first

1929
01:34:24.239 --> 01:34:27.279
through March thirty first, and anyone on an advantage plan

1930
01:34:27.359 --> 01:34:29.600
can make one more change. They can change to another

1931
01:34:29.600 --> 01:34:31.760
advantage plan, or they can go back to original Medicare

1932
01:34:31.800 --> 01:34:32.880
get a supplement and a stand.

1933
01:34:32.680 --> 01:34:34.760
Alone drug plan. How often can I do that?

1934
01:34:36.680 --> 01:34:38.479
During open enrollment January through March?

1935
01:34:38.520 --> 01:34:40.760
You get one chance? Right? But if I have got

1936
01:34:40.760 --> 01:34:42.760
an advantage plan and I decided I want to go

1937
01:34:42.840 --> 01:34:45.039
for whatever reason, to plan G, I wouldn't do that.

1938
01:34:45.079 --> 01:34:46.199
But let's say I did.

1939
01:34:46.439 --> 01:34:48.920
You could do that either annual in a ROMAN or

1940
01:34:48.960 --> 01:34:50.760
open enrollment. Right after that you're locked in.

1941
01:34:50.960 --> 01:34:54.479
Once I do that, then I can't go back to advantage.

1942
01:34:53.960 --> 01:34:56.600
Ever during an election period, you can.

1943
01:34:56.720 --> 01:35:01.039
I could so once a year. Actually exactly. That's good

1944
01:35:01.039 --> 01:35:02.359
to know, Yeah.

1945
01:35:01.960 --> 01:35:03.760
You know, I tell people it's good news and bad

1946
01:35:03.800 --> 01:35:05.279
news because a lot of people just I just want

1947
01:35:05.319 --> 01:35:07.319
to get this over with and then I never have

1948
01:35:07.399 --> 01:35:07.960
to think about it.

1949
01:35:08.680 --> 01:35:08.880
You know.

1950
01:35:09.000 --> 01:35:10.800
The good news is you get to change and look

1951
01:35:10.840 --> 01:35:12.840
at it every year and make sure because you know,

1952
01:35:13.000 --> 01:35:15.600
your health changes and the plans change, and you need

1953
01:35:15.640 --> 01:35:17.279
to have an opportunity to change if you need to.

1954
01:35:17.359 --> 01:35:19.840
I'd be getting these emails if you need to look

1955
01:35:19.880 --> 01:35:22.159
at the plan, here's what's happening is and and like

1956
01:35:22.239 --> 01:35:24.039
so many people, I'm like, I don't want to look

1957
01:35:24.079 --> 01:35:26.279
at this, I don't want to think about this. I'm

1958
01:35:26.279 --> 01:35:30.359
perfectly happy leave me alone. And uh again, I was

1959
01:35:30.399 --> 01:35:33.039
on Plan F. If you're on Plan F, you need

1960
01:35:33.039 --> 01:35:36.439
to get the Plan G if you can. If you

1961
01:35:36.880 --> 01:35:40.960
haven't considered Medicare advantage, you ought to give that very

1962
01:35:41.079 --> 01:35:45.520
very serious consideration, because the Arizona version of that is fantastic.

1963
01:35:46.439 --> 01:35:50.039
We all want to be happy and we all want

1964
01:35:50.039 --> 01:35:51.520
to be healthy, and that's why we got Pat in

1965
01:35:51.600 --> 01:35:53.880
the house. Right. If we're happy and healthy, that's a

1966
01:35:53.880 --> 01:35:58.000
good thing. But at Greenberg and at Greenberg Financial, we

1967
01:35:58.079 --> 01:36:01.119
want to be profitable. See you next week.