Sept. 1, 2024

Nvidia’s Earnings, Market Shifts, and September Volatility

Nvidia’s Earnings, Market Shifts, and September Volatility

This week on Money Matters by Greenberg Financial Group, we dive into Nvidia's latest earnings report and its ripple effects on the markets. We explore the latest economic data that’s fueling expectations for rate cuts in September and analyze the...

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This week on Money Matters by Greenberg Financial Group, we dive into Nvidia's latest earnings report and its ripple effects on the markets. We explore the latest economic data that’s fueling expectations for rate cuts in September and analyze the current rally's shift from major tech stocks to a broader market focus, with value stocks emerging as key beneficiaries. As we approach what’s historically the worst month for the S&P 500, we also discuss strategies for risk mitigation and the potential volatility ahead, especially with election season on the horizon. Don’t miss this insightful episode!

Transcript
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Good morning everybody. How are you doing today? This is

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t Greenberg and it is the Money Matter Show. Can

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you believe this month?

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Wow?

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We started off down seven percent at the very beginning,

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and we ended the month actually up. S and P

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was up two percent, the Dow was up one and

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a half. The and the equal weighted S and P

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five hundred was up two and a half percent. The

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Rustle was down. The Nasdaq was only up a half.

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What's amazing is that the Dow and the RSP the

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equal way to which we've been telling you, that's where

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we've been going for the last year because the S

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and P had weigh too much of all just technology

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stocks in there, not that we're not in there too,

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but the RSP is where we put the new money.

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They both made all time new highs on the week.

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Both.

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The SMP was up point two, RSP equal weight it

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was up point nine. That was up point nine. Now

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ZEK was down and the wrestle was down. So where

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do we go from here? Volatility, We'll be here. The

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month of September is the worst month of the year,

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usually when problems happened. It starts in September, bottoms in

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October and rallies to.

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The end of the year.

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There's a good chance that's gonna happen again. We took

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some money off the table mitigating risk. We took some

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money off the spy this week. We also hedged ourselves

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with a little bit of the inverse fund. This week

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he continues higher, we'll probably put some more on. It's

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probably for the next I don't know. Maybe we hit

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a bottom two months or so.

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See where we are, See what's going on.

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Any type of bottom, any type of decline, any type

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of fear, we'll be looking to be buying back in

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na video, which is the Bell Weather Company right now.

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Used to be AT and T, then it used to

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be IBM, then it's Apple, and now it's the video.

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And the video kind of tells you where the the

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AI market's going artificial intelligence. It tells you where the

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technology is heading. If they have the chips and the

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people are buying, then we're moving in the right direction.

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Their earnings came out blew away earnings again, but the

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margin started to slip just a little bit of how

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much they make, and I mean ridiculous amount. It was

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like a little bit like one percent down maybe from

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seventy five to seventy four percent margins. They will come down,

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We know they will come down, but the stocks probably

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have hire to go. Once everybody's selling it and churn

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it around here, it will probably rally back up and

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it'll probably get back up to them to make an

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old time new high again which is around that one forty,

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and it'll probably get to one fifty one sixty as

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they come out with their new chip that a schedule

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start coming out in the Why is that important because

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the new chips that come out always will have the

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higher margins because they're the only ones on the market

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that can keep doing the things that people want them

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to do. Yes, there's competition coming in. There's AMD and

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maybe Intelli get out of the way. I don't know

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that that's a joke in the half. We'll talk about

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that in a little bit. But there's some other companies

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Broadcom that has some decent chips that people are buying, obviously,

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but nobody has the chips that Nvidia has yet They're

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two years away, these other people from being able to

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do what Nvidia is doing. And if they keep ahead

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of the curve, it's obviously your company when it gets

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too big in your portfolio or you trim it back,

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but it's definitely when you hold on to for a while,

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just like we've held on to Apple and Meta and

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Google and Microsoft. These are companies that run the world.

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Sit where we are now as money managers. As you know,

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we don't just do the financial planning. We actually take

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and consider on how your risk tolerance is. And we

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watched the markets and we actually pull the trigger. People

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that pull the trigger are the people I respect in

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this business because you have to make a decision, real

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decision on how to invest people's money, and you have

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to know what's going to happen without versus effects.

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I know this risk reward has always been my model.

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In this risk reward.

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When everyone wants to sell and the markets are down

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and everything is scary, that's the time to buy. A

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week and a half ago, two weeks ago, we fell

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hard that Monday. What we say people that are underinvested,

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We got him invested. Now the markets are rallied and

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now we've taken some money off the table. We've reduced

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a little bit of our exposure to risk. And we

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sit in money market and we had some portfolios. We

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understand how to mitigate risk. It's important because you don't

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know when the market's gonna turn off. You don't know

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what's gonna go down. But I look at September in October,

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it's not being the greatest month, So why not do something.

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We've had a great run up. Why not do something.

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But you have to know what to do. And I

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tell you the one thing you don't do. You don't

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just sit and say, I'll wait it out. Oh it's

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down fifteen percent or twenty percent or whatever, I'm scared

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and going because it's inevitable. Your emotions will change when

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it goes down. It's inevitable. You will sell at the

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wrong time. It's inevitable. You then buy back at the

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wrong time. It's inevitable. The only way to do it

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is as the market's rally, you take some money off

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the table. And yes, it goes higher, and it bothers

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you that it goes higher, but it shouldn't bother you

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as much as when the markets go down and you

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keep waiting for it to come back, and a dozen

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and the next thing you know, you have to take

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a loss on it.

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Those things happen. This week.

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We had good economic numbers. They came in line. The

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PCEE number was exactly what the fen's looking for. We

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still have, guess what, inflation to two and a half percent.

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I'm tired of listing everyone saying we don't have inflation

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two and a half percent. It's still rising two and

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a half percent every single month annualized. I mean, prices

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are not coming down. They will eventually when when when

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the supply is greater than the demand.

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They used the.

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Fact that we had a supply chain problem and that's

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why every all the prices went up. Well, if we

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don't have a supply chain problem, now, why aren't the

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prices coming down faster?

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And that's when.

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Kamala stands up and says, I'm going to price fix.

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I'm going to tell everyone what the price of food

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should be, or eggs or milk or whatever she wants

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to decide. She's going to say, you can't do that

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in a capitalistic society. You try and do that, it's

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the end of capitalism and the beginning of socialism. They

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talk all the time about Trump being the dictator. They

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want to dictate everything. They want to government control. They

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want the government to tell you how much money somebody

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should make.

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They want to tell you.

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How to do things, and then they'll give you money

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for things if you do it their way. Think about this.

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They keep talking about how this. You know, the chip

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back was great. I do think it was good that

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they brought companies here to do it.

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They gave six.

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Billion dollars to Intel maybe six months ago, six billion dollars.

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Obviously nobody did their homework, or they did. They looked

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the other way because since they gave them the money,

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Intel has done nothing but go down. They're not competing,

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and they laid off fifteen thousand people. So we give

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a company six billion to stay here, to increase to

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concrete jobs, and they go ahead and take off fifteen

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thousand people. Now they're looking maybe to sell off part

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of their business. The government makes more mistakes with their

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money than anybody I know. Remember all the deals that

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Obama made. Think about that, all those companies that went bankrupt,

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with all the hundreds of millions and maybe billions of

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dollars that they got to start going clean. All the

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money we put into for EV vehicle stations when they

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built twenty fifteen of them. I don't even know billions.

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This is the same thing like California does when they

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decided to make that high speed trade and they lost

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twelve billion dollars and they didn't even put the.

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Track down.

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Because they can't afford to keep going in that direction.

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And they think and it's okay to spend on money

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in ways that don't make sense. I keep seeing corporation

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after corporation start talking about there's no way I can

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live up to this DEI stuff anymore. But yet the

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administration doesn't want to say that they're DEI people. Of

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course they are. Of course she is. Of course the

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Supreme Court is. I'm not saying they can't don't have

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the ability. I'm saying they went to the front of

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the line for the reasons of DEI and now corporations.

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Low's now has become the biggest company that says, you

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know what, we're cutting back on this DEI stuff. It

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ain't working. Many companies are doing the same thing.

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This whole thing.

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Is unbelievable how the government's dictating to what needs to

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be done. Inclusivity comes from indunity from people that understand

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what's going on, that people that work hard, people that

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want the jobs, people that are going to help companies

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do well. That's where it comes from. Then you become

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inclusive because everybody does it. It should never matter what color,

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what race, what religion, where you're from. As long as

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you are legal. If you're the best person for the job,

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then you should get the job. Sometimes they think that

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we should run the country like a football team. The

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best players play, the plus players get rewarded. If you

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want to get to that spot and you get an

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opportunity because someone goes down, then you better shine and

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know what's going on behind you. Nobody gets to play

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because of a dei situation. Nobody gets to go ahead

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and be a starter and get rewarded and get scholarships

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and do that because of a dei situation. They get

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it because they earn it. If that mentality spreads through

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our country will be so much better off. The interview

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the other day with Kamala, forget all the other things.

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The thing that gets me in the monsters when she says,

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my morals, my opinions don't change. I'm still the same person.

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But yet everything she says is different. If she's still

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the same person, you better take her by that word,

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which means we will have open borders. She's not going

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to build the wall even though now she's taken the

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ideas from the right, she's going to go ahead and

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not deport people that don't belong here because you know

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the way she feels about crime. She got people out

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that and raise money to get people out of jail

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during the riots in Seattle, and then tore down federal buildings.

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You know how she feels on climate Okay, you know

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how she feels on it. So when she doesn't answer

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the question that she will not stop fracking, why do

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you think that she won't because she said it. I

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said it on my platform in twenty twenty that I

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back what Biden did. It is the biggest political sham

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I've ever seen in my life that's going on. And

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yet people fall in love with her right now that

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didn't even know her, like her or understand her, just

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because it's not Donald Trump. They don't care about what

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happens to her country. They don't care about how many

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are trillions of dollars there will be spent on projects

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that we do not need nor can afford.

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Right now. They don't stop spending.

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They keep giving illegals as much money as they possibly can,

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but they don't give Americans. They give the foreign countries

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as much money as they need, but they don't give

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the Americans. We have homeless, we have poor, we have poverty,

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and they do nothing to bring them up except talk

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the biggest game in.

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The world on how they're going to help.

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Them, or they talk about we are their union, we

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are their best people for union.

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All you do is support the union. You don't care

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what the teachers union.

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Does and all the stuff they've been teaching and making

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us so divisive in this country. When someone tells me

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they don't they they are still the same person. Haven't

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changed even though they flip flopped to other issues, and

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don't tell us why they've changed. Why she will now

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build the wall, which couldn't be the biggest contrast of

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the two. Why she will be hard on immigration when

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they haven't yet. And stop blaming Trump that he didn't

240
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form the thing. You had three years in there, three years,

241
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and if you didn't sign it, you could have still.

242
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Done what you did.

243
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Now, No, what you did is you you. You tried

244
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to sue Texas for trying to defend their own state.

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You got upset at everybody that was mobilizing the illegal

246
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immigrants coming across and putting him in in other cities,

247
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sanctuary cities that said everyone's welcome until they get there

248
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and they can't afford them.

249
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You're kicking people.

250
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Out of rooms, hotel rooms, and and and stuff so

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people can have their places. That's what this administration stands for.

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Now.

253
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They've done a few good things. I'm not gonna take

254
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away some of that. They've invest send some money in

255
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the right ways. But again the chip back that they

256
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keep going back to bring up and tell six billion dollars,

257
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fifteen thousand people lost, bring up some other things. Everyone

258
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needs to take the emotions out of how they feel

259
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about someone and look down the line and vote on

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how they would vote. They keep trying to label Trump

261
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as against abortion and everything else.

262
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He's not.

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We know that, you know that, I know that. They

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keep labeling of it. They keep going back to this

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Project twenty five. If he says one more time, it'll

266
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be a thousand times. He says, I not agree with

267
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Project twenty five. In fact, I don't even know that

268
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much about Project twenty five. But yet, guess what they

269
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keep pushing that on him. But this media will not

270
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go ahead and attack the left like they attack the right.

271
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We fight an uphill battle all the time. You have

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no idea what is right or what is wrong because

273
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we never realiz know. The media will continually say how

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bad the right is, and more than half the people

275
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in this country believe in what the right does. I'm

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not talking about way life right, and I'm not talking

277
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about way left. I'm talking about left a little bit,

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right a little bit. We're all pretty much in the

279
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same and they can't get us together. And the people

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that could get us together would be the media. By

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asking the hard questions, not just to Trump, not just

282
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to jd Vance, but Kamala and Waltz. That's how you

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figure out who you want and make him, put him

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down in an agenda, and stop with all the bs.

285
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Here's the biggest thing. Think about this. And I keep

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asking people this one. You know you don't really want

287
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to talk about politics because you're on both sides. I said,

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here's a question for you. If Paris doesn't win this

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election and she tries to run for being president in

290
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four years from now, do you think that you would win.

291
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Do you think that you would even get past the primaries?

292
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Do you think that she would be your candidate? And

293
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when they sit and think about it. They probably say no.

294
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They probably realized that it would not be their candidate.

295
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So how do you fall in love with someone that

296
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was not well liked at all for many many reasons,

297
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not to mention her competence, but yet you want to

298
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put into the White House and make her president. It's

299
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one of the most volatile times we've seen in history.

300
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We're involved in wars around the around the world who

301
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we weren't before. We have the highest inflation that we

302
00:17:56.079 --> 00:17:58.200
saw over a three year period, and I understand a

303
00:17:58.240 --> 00:18:00.240
lot of that. How to be the pandemic, I get that,

304
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but they didn't do the things that could have brought

305
00:18:03.480 --> 00:18:06.079
it down. They didn't open up the supply chains like

306
00:18:06.119 --> 00:18:07.880
they should have. There were so many things that they

307
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were worried about, unions and this and that. And when

308
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they say they brought stuff back, they only brought back

309
00:18:14.559 --> 00:18:19.640
the manufacturing of chips. Why haven't we seen that anybody

310
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step up and bring back our essential healthcare items that

311
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we need. That we realize that China was behoving to that.

312
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We needed China to go ahead and give us the

313
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stuff to survive, medicines, machines.

314
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That's ridiculous that.

315
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We haven't worked on bringing it back to North America,

316
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whether it's here in Mexico.

317
00:18:46.440 --> 00:18:47.960
We can get cheap labor in Mexico.

318
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We should be going ahead and making Mexico our best

319
00:18:51.160 --> 00:18:53.640
friends in the world and help them build up that

320
00:18:53.720 --> 00:18:59.039
country by having them doing a lot of manufacturing for us.

321
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You see the car companies going down there. You see

322
00:19:02.480 --> 00:19:08.680
some people going down there. Open up that corridor, Open

323
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up the United States. Make it viable for us to

324
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be able to do all that stuff. Then I can

325
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agree that we're going in the right direction, because right

326
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now you can go ahead and have the biggest love

327
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affair in the world. Love ain't going to keep us safe.

328
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Love isn't going to make us prosperous. Love isn't going

329
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to go ahead and give us the technology and and

330
00:19:37.079 --> 00:19:39.440
and stay number one economy in the world.

331
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That's love ain't gonna do that. Man. You saw that

332
00:19:42.559 --> 00:19:43.720
in Seattle.

333
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When they when the mayor came out and said, watching

334
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everything get destroyed, watching watching the thugs take over the streets, stealing, robbing,

335
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killing people, it's the summer of love. We see what

336
00:20:00.759 --> 00:20:03.599
love does. If you want to continue down the road

337
00:20:03.599 --> 00:20:06.559
to there's love affair with a person you wouldn't even

338
00:20:06.599 --> 00:20:10.160
even vote for after the if she does not win

339
00:20:10.240 --> 00:20:13.079
right now, if she wasn't, then you would not be

340
00:20:13.160 --> 00:20:16.039
voting for her. And anyone that says they were they

341
00:20:16.319 --> 00:20:19.200
would have they're out of there. They're lying. They're lying

342
00:20:19.519 --> 00:20:21.799
because they never voted for her in a primary. She

343
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couldn't even get to Iowa. She got picked because d

344
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e I. That's why she got picked. Whether she likes

345
00:20:31.799 --> 00:20:34.599
it or not, whether she wants to be honest about

346
00:20:34.640 --> 00:20:38.039
it or not, she talks about it, how necessary it is,

347
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but then it goes against it. The biggest fear is

348
00:20:41.599 --> 00:20:44.119
what is she going to do start mandating again on

349
00:20:44.160 --> 00:20:49.000
the EV's. You see every single auto vehicle company cutting

350
00:20:49.039 --> 00:20:56.200
back on EV production because they've lost billions billions of dollars.

351
00:20:58.000 --> 00:21:01.200
Companies are not here to lose money. They're here to

352
00:21:01.240 --> 00:21:03.960
make money so they can create jobs. Even though everyone

353
00:21:03.960 --> 00:21:07.240
thinks that the big bad corporations and shoes here to

354
00:21:07.319 --> 00:21:13.119
control them. With our corporations, most middle America, most blue

355
00:21:13.119 --> 00:21:15.640
collar workers do not have a job.

356
00:21:16.160 --> 00:21:21.559
How about that? So instead of tearing.

357
00:21:21.279 --> 00:21:25.000
Down from the top down, why don't we build up

358
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from the bottom up. Stop lowering the bar, lowering the

359
00:21:28.680 --> 00:21:33.920
anticipat expectations, and let's bring the lower playing feel up.

360
00:21:34.599 --> 00:21:38.920
That starts with education, that starts with opportunities, and that

361
00:21:38.960 --> 00:21:42.759
starts with caring about the American people first, going into

362
00:21:42.799 --> 00:21:46.440
the inner cities and changing the way we educate. Change

363
00:21:46.440 --> 00:21:50.759
the way we educate, and people will start getting smarter.

364
00:21:51.839 --> 00:21:54.599
Kids today don't even like school worse than we like school.

365
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The difference is we actually had to learn something very

366
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few kids learn much.

367
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Now.

368
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They don't have a clue about geography, they don't have

369
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a clue about finance. They don't have a clue about

370
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anything except getting through. Now, there are some smart kids

371
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out there and the opportunities open up for them.

372
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Again.

373
00:22:16.119 --> 00:22:18.440
Why aren't we bringing the lower playing field up to

374
00:22:18.480 --> 00:22:21.200
the higher playing field instead of tearing down the higher

375
00:22:21.240 --> 00:22:24.039
playing field and bringing it down to the lower playing field.

376
00:22:24.039 --> 00:22:27.119
Because that will never work. Once you're out on your own,

377
00:22:27.160 --> 00:22:31.039
it doesn't work. You got to actually make it happen.

378
00:22:32.319 --> 00:22:36.799
You got to have opportunities and seize them. You want

379
00:22:36.839 --> 00:22:39.039
to have ideas and get people to fund it. You

380
00:22:39.160 --> 00:22:40.680
got to be smart. You got to know how to

381
00:22:40.720 --> 00:22:43.400
do financial work. You need to know how to to

382
00:22:44.119 --> 00:22:46.839
have a budget. Everything Our government doesn't know how to do.

383
00:22:49.039 --> 00:22:50.759
The only way we talk about it all the time

384
00:22:50.880 --> 00:22:52.319
is not going to happen, even though they bring it

385
00:22:52.400 --> 00:22:54.079
up once in a while. They want to go ahead

386
00:22:54.119 --> 00:22:56.799
and put term limits on the Supreme Court judges, but

387
00:22:56.799 --> 00:22:59.920
they won't put term limits on themselves. A guy like

388
00:23:00.039 --> 00:23:02.200
Biden should not have been in this for fifty some

389
00:23:02.240 --> 00:23:04.240
odd years.

390
00:23:04.519 --> 00:23:05.079
Just shouldn't.

391
00:23:07.359 --> 00:23:09.839
A country is run on people that want to help

392
00:23:09.880 --> 00:23:12.640
the country, not on people that want to take advantage

393
00:23:12.640 --> 00:23:15.599
of our country. The one man that is in office

394
00:23:15.640 --> 00:23:18.519
that was not a politician that's going trying to be

395
00:23:18.559 --> 00:23:21.599
president again, did not ever ask the country for anything.

396
00:23:23.160 --> 00:23:27.079
He didn't become rich because he became a politician. He

397
00:23:27.160 --> 00:23:30.039
actually was rich beforehand, and it's cost him billions of

398
00:23:30.079 --> 00:23:35.599
dollars since he's been in But he ever scratch your

399
00:23:35.640 --> 00:23:38.000
head and say, how did all these other people? How

400
00:23:38.039 --> 00:23:42.359
did Pelosi who's been in politics forever, be worth as

401
00:23:42.400 --> 00:23:44.839
much money as she has? How do people come in

402
00:23:44.960 --> 00:23:46.599
when they make it one hundred and seventy five to

403
00:23:46.640 --> 00:23:48.759
two hundred and fifty thousand dollars a year and they

404
00:23:48.839 --> 00:23:52.599
end up with twenty thirty fifty hundred million dollars? How

405
00:23:52.680 --> 00:23:57.359
is that possible, and nobody questions that. If I was

406
00:23:57.400 --> 00:23:59.920
a reporter, that's the one thing I would start research.

407
00:24:00.880 --> 00:24:03.519
I would look into that so deep it wouldn't be funny.

408
00:24:04.599 --> 00:24:06.400
But at the end of the day, let's look at

409
00:24:06.400 --> 00:24:08.680
the markets. We'll make money no matter who goes in

410
00:24:08.759 --> 00:24:14.359
because we'll figure it out. Be happy, understand who you're

411
00:24:14.400 --> 00:24:17.160
voting for, and make it work. We'll be right back

412
00:24:17.160 --> 00:24:20.079
at some morning Mount Show, Money Mounting Show. Appreciate you listening.

413
00:24:21.559 --> 00:24:24.359
Welcome back to the Money Matter Show. Happy Labor Day weekend,

414
00:24:24.440 --> 00:24:26.759
O paybody's having a good time out there. But you

415
00:24:26.759 --> 00:24:27.359
think id.

416
00:24:27.519 --> 00:24:32.000
It's a long weekend, I mean holiday shortened weekend, long

417
00:24:32.039 --> 00:24:35.680
in weekend. Actually yeah, now, yeah, it's gonna be a

418
00:24:35.680 --> 00:24:38.720
fun one and shouldn't be as hot as we have

419
00:24:39.160 --> 00:24:40.000
been this summer.

420
00:24:40.119 --> 00:24:42.880
No, we're through it, man, We've done it again. We've

421
00:24:42.880 --> 00:24:44.920
we've made it, you know, and now we get into

422
00:24:45.000 --> 00:24:47.880
the September where it'll stay. You know, ninety ninety five

423
00:24:48.000 --> 00:24:51.119
hundred people are going to be having the stove Vermont syndrome.

424
00:24:51.160 --> 00:24:53.440
That's what I call the stove Vermont syndrome, where everybody

425
00:24:53.920 --> 00:24:56.200
is thinking maybe I ought to relocate the stove Vermont,

426
00:24:56.279 --> 00:24:59.640
you know, and then October comes you can now two sons.

427
00:24:59.680 --> 00:25:02.119
Okay, Well, it's it was a fun week in the market,

428
00:25:02.160 --> 00:25:04.680
so we had a lot of volatility, with obviously Navidia's

429
00:25:04.680 --> 00:25:07.519
earnings reports being the focus of the week. They released

430
00:25:07.559 --> 00:25:12.319
on Wednesday. They reported above expectations, but it didn't quite

431
00:25:12.400 --> 00:25:15.480
beat as much as they have beaten in the previous quarters,

432
00:25:15.960 --> 00:25:21.160
and the investors actually punished the stock by basically making

433
00:25:21.200 --> 00:25:24.240
the only stock that was trading lower on Thursday, it

434
00:25:24.279 --> 00:25:25.000
was trading higher.

435
00:25:25.079 --> 00:25:27.640
Yeah, and Video was down, but there was this relief

436
00:25:27.720 --> 00:25:30.599
rally that the earnings were okay because the man has

437
00:25:30.640 --> 00:25:33.680
become such an important stock, and it's an important stock

438
00:25:33.759 --> 00:25:36.799
because Ai has been driving the market and then Vidia

439
00:25:36.880 --> 00:25:39.039
drives Ai right simple.

440
00:25:39.640 --> 00:25:42.880
And also what we saw is oil took a little

441
00:25:42.920 --> 00:25:45.240
bit of a fall this week amount a dollar and

442
00:25:45.279 --> 00:25:50.240
a half. It's been really weird watching oil because obviously

443
00:25:50.279 --> 00:25:54.640
as one of the economic indicators forward looking see how

444
00:25:54.640 --> 00:25:57.359
that could impact the economy, and it's gone up because

445
00:25:57.640 --> 00:26:00.200
it seems like the world economy is doing well well

446
00:26:00.200 --> 00:26:01.960
and then next week it's the exact opposite, and the

447
00:26:02.039 --> 00:26:03.720
next week it's doing good again, and then this week

448
00:26:03.720 --> 00:26:06.279
it's doing bad again, so there's not much of a

449
00:26:06.319 --> 00:26:07.920
read I can get off oil right now.

450
00:26:07.960 --> 00:26:09.559
Yeah, you jumped about two and a half bucks on

451
00:26:09.640 --> 00:26:14.200
Monday after Libya suspended exports, right, and then it came

452
00:26:14.279 --> 00:26:15.880
right back down in finish a week, Like you said,

453
00:26:15.880 --> 00:26:17.920
it down a dollar and a half. The problem that

454
00:26:17.960 --> 00:26:23.519
oil has is China, right, pardon me, the second largest

455
00:26:23.519 --> 00:26:28.000
consumer of oil in the world is really struggling, really struggling.

456
00:26:28.559 --> 00:26:28.799
Yeah.

457
00:26:28.839 --> 00:26:31.160
The one thing to know about China is they did

458
00:26:31.200 --> 00:26:34.759
inject about one hundred and fifty billion of their currency.

459
00:26:34.799 --> 00:26:37.359
I don't think dollars. I think one is just a

460
00:26:37.359 --> 00:26:40.960
little less than dollars. But that's obviously when they start

461
00:26:41.000 --> 00:26:43.319
stimulating their economy, that's going to be able to help

462
00:26:43.359 --> 00:26:46.880
them get some more productivity because they've really getten hurt

463
00:26:46.920 --> 00:26:48.359
off that whole housing.

464
00:26:48.359 --> 00:26:50.920
Because the real estate bubble is so massive and so

465
00:26:51.240 --> 00:26:54.640
pervasive over there. I don't know how long it's takes

466
00:26:54.680 --> 00:26:56.200
to work through that, but it's not going to be

467
00:26:56.200 --> 00:26:57.240
a one week deal.

468
00:26:57.400 --> 00:26:59.920
And it's very interesting. I saw a couple articles as

469
00:27:00.160 --> 00:27:04.160
this dollar has been falling in value across many currencies,

470
00:27:04.599 --> 00:27:07.720
that actually helps a lot of the international markets. A

471
00:27:07.720 --> 00:27:10.680
weeker dollar. It helps the whole world as a whole

472
00:27:11.200 --> 00:27:15.440
produce more, it's easier on trade. It's kind of counterintuitive

473
00:27:15.480 --> 00:27:18.079
when you thinking of as an American like it makes it

474
00:27:18.119 --> 00:27:20.319
seem dollars going down in value that's bad for US.

475
00:27:20.680 --> 00:27:23.680
It's not necessarily a bad thing because of our world

476
00:27:23.720 --> 00:27:25.160
reserve currency status.

477
00:27:25.359 --> 00:27:28.000
You'll never hear a single politician say they want a

478
00:27:28.039 --> 00:27:31.079
lower dollar, but they do, right, because it's really good

479
00:27:31.079 --> 00:27:32.079
for business.

480
00:27:31.880 --> 00:27:34.319
Yeah, on all levels for us. Well, actually, it's really

481
00:27:34.359 --> 00:27:39.359
bad for American manufacturing business. That's why the manufacturing industry

482
00:27:39.359 --> 00:27:41.680
in this country has been glutted over the last fifty

483
00:27:41.720 --> 00:27:46.079
years because the dollar has increasingly been the world reserve currency.

484
00:27:46.440 --> 00:27:46.640
Right.

485
00:27:46.960 --> 00:27:49.920
But it helps the services side of the US economy,

486
00:27:49.920 --> 00:27:52.799
and that's why the services side has absolutely become dominant.

487
00:27:53.200 --> 00:27:55.519
And the dollar tends to move with interest rates. If

488
00:27:55.599 --> 00:27:58.359
intertrates are moving up, there's going to be more demand

489
00:27:58.400 --> 00:28:00.559
for the dollar, and if intertraction moving down, there's going

490
00:28:00.599 --> 00:28:02.759
to be a less demand. Interest rates are on the

491
00:28:02.799 --> 00:28:07.200
cusp of moving down. Officially, we've seen the ten year

492
00:28:07.279 --> 00:28:10.960
treasury drop over over one hundred basis points already, so.

493
00:28:11.960 --> 00:28:14.079
That's kind of why we saw The big drop in

494
00:28:14.119 --> 00:28:16.720
the beginning of the month in August was we were

495
00:28:16.759 --> 00:28:18.799
going down in value with our interest rates, and then

496
00:28:18.880 --> 00:28:21.000
Japan was going up in value with their interest rates,

497
00:28:21.039 --> 00:28:24.240
and it kind of created this weird phenomenon called the

498
00:28:24.319 --> 00:28:27.759
yen carry trade, and it was had to be a

499
00:28:27.759 --> 00:28:30.359
little bit liquidated, and that's why you had this really

500
00:28:30.400 --> 00:28:33.640
sharp increase in the Vicks went up to like a sixty. Right,

501
00:28:33.680 --> 00:28:36.160
it's already way back down and everything kind of has

502
00:28:36.200 --> 00:28:38.640
worked itself out. By the end of the month, we're up, right.

503
00:28:38.799 --> 00:28:42.400
But that it really was. It looked like an exonious shock.

504
00:28:42.480 --> 00:28:45.680
It wasn't necessarily a recessions coming. It was just one

505
00:28:45.720 --> 00:28:49.079
of those monetary mechanics s and.

506
00:28:49.000 --> 00:28:51.039
P five hundred was down for most of the week.

507
00:28:51.079 --> 00:28:53.880
It got a strong rally right at the close on Friday,

508
00:28:53.920 --> 00:28:57.079
about the last fifteen minutes, and I tried to find

509
00:28:57.119 --> 00:29:01.799
out what caused this, the volume from four hundred million

510
00:29:01.880 --> 00:29:06.559
shares to one point seven billion shares in fifteen minutes.

511
00:29:07.559 --> 00:29:09.119
I don't know what caused that. I don't know if

512
00:29:09.119 --> 00:29:12.160
there was a rebalanceee of some type. I couldn't find

513
00:29:12.200 --> 00:29:16.160
anything on CNBC or anywhere I googled, but there was

514
00:29:16.200 --> 00:29:19.559
a gigantic spike in the volume, and the doll which

515
00:29:19.640 --> 00:29:22.240
was flat finished Friday at up two hundred and twenty

516
00:29:22.319 --> 00:29:24.960
eight points. S and P five hundred was flat finished

517
00:29:25.000 --> 00:29:27.440
up fifty six points, which is a full percentage point

518
00:29:27.480 --> 00:29:29.559
higher all in the last fifteen minutes.

519
00:29:29.720 --> 00:29:32.240
Yeah, I was writing my report saying SMB was finishing

520
00:29:32.240 --> 00:29:33.720
down on the week, and by the end of it,

521
00:29:33.799 --> 00:29:37.240
I had to change it because it really did rebound

522
00:29:37.319 --> 00:29:39.799
out of nowhere and it looks like, you know, historically

523
00:29:39.880 --> 00:29:42.319
that's normally what's happening when you head into a three

524
00:29:42.400 --> 00:29:45.759
day weekend. Shortened week normally is good for markets. Potentially,

525
00:29:45.799 --> 00:29:49.000
it's just that, but seasonality is kind of a head

526
00:29:49.000 --> 00:29:52.400
scratcher because you're going into what is historically the worst

527
00:29:52.400 --> 00:29:54.279
month of the year for the S and P. So

528
00:29:54.599 --> 00:29:55.519
mbersides that point.

529
00:29:55.640 --> 00:29:57.799
Yeah, September the only month of the year that has

530
00:29:57.839 --> 00:30:02.319
on average closed lower, and it's actually closed lower more

531
00:30:02.359 --> 00:30:05.000
often than higher, and it is the only month of

532
00:30:05.079 --> 00:30:08.079
the year that's closed lower more often than is closed higher.

533
00:30:08.680 --> 00:30:12.960
So we became a little defensive this week. We decided

534
00:30:13.000 --> 00:30:14.640
to pull in our horns just a little bit, and

535
00:30:14.839 --> 00:30:17.680
not that not that we're predicting September is going to

536
00:30:17.680 --> 00:30:20.720
be awful, but it can often be difficult, and this

537
00:30:20.920 --> 00:30:24.359
knowledge that it is often difficult can become self fulfilling.

538
00:30:25.079 --> 00:30:28.000
And so we reduced our exposure to the S and

539
00:30:28.079 --> 00:30:31.599
P five hundred by nine percent, which is just which

540
00:30:31.640 --> 00:30:35.680
is probably about as aggressive a negative or not as

541
00:30:36.000 --> 00:30:39.440
but aggressive of trimming as we've done in a while.

542
00:30:41.279 --> 00:30:44.119
The market finished August up higher, as you said, for

543
00:30:44.160 --> 00:30:47.200
the seventh time in the last eight months. Actually it's

544
00:30:47.200 --> 00:30:48.920
the ninth time in the last ten months. I've want

545
00:30:48.920 --> 00:30:50.680
to go back to last year. So we've been on

546
00:30:50.759 --> 00:30:54.599
quite a little run here. The market is technically overpriced,

547
00:30:55.039 --> 00:30:59.839
overvalued from a historical perspective. It's probably twenty to twenty

548
00:30:59.839 --> 00:31:03.200
five five percent higher than normal if you're using the

549
00:31:03.279 --> 00:31:06.720
price earnings ratios. We are coming into a period where

550
00:31:06.720 --> 00:31:09.720
the economy is slowing, so it just kind of made

551
00:31:09.759 --> 00:31:12.240
sense to us to maybe be a little bit more aggressive.

552
00:31:12.680 --> 00:31:15.279
I would say, if you're running your own show out there,

553
00:31:16.200 --> 00:31:17.880
don't try to be a hero in September.

554
00:31:18.960 --> 00:31:23.359
Yeah, and I think anyone who's listening that is, you know,

555
00:31:23.599 --> 00:31:26.799
twenty years out from retirement, even ten years out from retirement.

556
00:31:27.519 --> 00:31:30.440
This is a completely different money management approach that what

557
00:31:30.440 --> 00:31:32.920
we're doing, right. I mean, sure we're trimming back, but

558
00:31:33.759 --> 00:31:37.759
in theory you should just stay invested. I agree most

559
00:31:37.799 --> 00:31:40.519
people in their fall one case. It's not just because

560
00:31:40.519 --> 00:31:42.079
you hear us doing this. Doesn't mean you go to

561
00:31:42.079 --> 00:31:44.799
your phone and do that. Most of the time, it

562
00:31:44.920 --> 00:31:47.680
is probably best case to just stay invested into what

563
00:31:47.720 --> 00:31:50.480
you have based on your ristons, based on what you

564
00:31:50.480 --> 00:31:52.319
have your goals and the jects are, and do it

565
00:31:52.359 --> 00:31:55.480
that way. If you try to be real cute, it

566
00:31:55.640 --> 00:31:58.400
becomes kind of like a game, and that's a dangerous

567
00:31:58.440 --> 00:32:01.160
thing because you fall into all these spices and things

568
00:32:01.160 --> 00:32:01.480
like that.

569
00:32:01.559 --> 00:32:03.559
And we talk about a lot of stocks, we talk

570
00:32:03.599 --> 00:32:05.759
about a lot of strategies, a lot of different things

571
00:32:05.839 --> 00:32:09.960
on the show. We're not recommending anything to anyone, all right,

572
00:32:10.079 --> 00:32:13.279
We're not recommending anything to anyone. It all depends upon

573
00:32:13.319 --> 00:32:18.119
your risk tolerance and your objectives. Get with your financial guy,

574
00:32:18.200 --> 00:32:19.559
give us if you don't know what they are, give

575
00:32:19.640 --> 00:32:22.119
us a call. If you're confused about it, give us

576
00:32:22.119 --> 00:32:24.480
a call. We can we can help you with that.

577
00:32:25.079 --> 00:32:30.640
But I can't emphasize enough that if we talk about

578
00:32:30.680 --> 00:32:33.799
in video, we're not recommending in video. If we suggest

579
00:32:33.839 --> 00:32:36.240
that a stock it looks like it's putting in the bottom,

580
00:32:36.240 --> 00:32:39.559
we're not suggesting you buy that. We don't know your objectives.

581
00:32:40.480 --> 00:32:42.440
Just be careful. And it's kind of a kind of

582
00:32:42.440 --> 00:32:44.720
a backdoor disclaimer. I don't know if Dean did the disclaimer.

583
00:32:44.799 --> 00:32:46.599
If not, we'll do in the next segment.

584
00:32:46.960 --> 00:32:49.799
Right, But yet, and that goes to why we do

585
00:32:49.839 --> 00:32:52.160
the financial plan for all of our new clients now,

586
00:32:52.240 --> 00:32:55.039
because we really feel that's how we can know how

587
00:32:55.079 --> 00:32:56.720
the best invests for you. If we have to know

588
00:32:56.759 --> 00:33:00.079
your goals and objectives. What's your time horizon? Are are

589
00:33:00.119 --> 00:33:02.119
you in retirement are you not? What type of income

590
00:33:02.160 --> 00:33:04.920
are you getting? What are those income sources? Are they guaranteed?

591
00:33:05.000 --> 00:33:07.440
Are they not? There's a lot of different what ifs.

592
00:33:07.640 --> 00:33:10.079
Do you have longevity? Do you have health concerns?

593
00:33:10.440 --> 00:33:10.640
Right?

594
00:33:10.720 --> 00:33:12.960
Is long term care gat to play a factor? Those

595
00:33:13.000 --> 00:33:16.000
are all things that we include into that financial plan,

596
00:33:16.039 --> 00:33:18.119
which is so important. And then on top of that that,

597
00:33:18.119 --> 00:33:21.640
our risk analyzer tool really helps us understand how risky

598
00:33:21.680 --> 00:33:23.920
you are going to be right for your own just

599
00:33:23.960 --> 00:33:27.799
personal values, what type of person you are on a

600
00:33:27.880 --> 00:33:30.359
risk spectrum, and then what is your current portfolio at

601
00:33:30.680 --> 00:33:32.799
on a scale one one hundred, what is it right now?

602
00:33:33.240 --> 00:33:35.559
And that has to align your plan and your risk

603
00:33:36.000 --> 00:33:39.359
and then your self's risk as well. So having to

604
00:33:39.359 --> 00:33:42.000
do that all yourself can be really burdensome for most people.

605
00:33:42.039 --> 00:33:44.640
And honestly, you need a software that can run a

606
00:33:44.680 --> 00:33:47.599
lot of different what if scenarios, play with all those

607
00:33:47.640 --> 00:33:50.799
different variables, and so we'll do all that for you

608
00:33:50.880 --> 00:33:52.559
completely for your charge. You just got to give us

609
00:33:52.559 --> 00:33:55.559
a call five two zero five four nine zero nine.

610
00:33:55.559 --> 00:33:57.920
We'll set up a time you can come in. It's

611
00:33:57.960 --> 00:34:00.400
a real easy one hour meeting, and then the next

612
00:34:00.400 --> 00:34:03.200
meeting will give you an actual proposal based on that

613
00:34:03.480 --> 00:34:06.559
initial meeting, of actual suggestions and recommendations of what we

614
00:34:06.640 --> 00:34:08.639
think is the best course of action for you.

615
00:34:08.880 --> 00:34:11.400
Yeah, it's been fantastic. People really enjoy it and they

616
00:34:11.639 --> 00:34:14.920
come away relieved or least knowing where they're at.

617
00:34:15.199 --> 00:34:17.559
And if you wanted to play Devil's advocates, what we

618
00:34:17.599 --> 00:34:20.960
did this week of you know, obviously being trimming back

619
00:34:22.000 --> 00:34:26.000
consumer stock sentiment. The net percentage of consumers expecting stocks

620
00:34:26.039 --> 00:34:28.440
to increase minus the ones that think it's going to

621
00:34:28.519 --> 00:34:31.960
decrease crossed above twenty five percent in July for just

622
00:34:32.000 --> 00:34:35.719
the thirteenth time since nineteen eighty seven, and the other

623
00:34:35.840 --> 00:34:39.599
thirteen times, the average return one year later is eleven percent.

624
00:34:40.119 --> 00:34:44.199
So a lot of people are bullish, right, and sometimes

625
00:34:44.239 --> 00:34:46.599
that's a bad thing. But right now where we're at,

626
00:34:46.639 --> 00:34:48.880
there is a lot of liquidity going on. Most central

627
00:34:48.880 --> 00:34:51.559
banks are actually going into easing policy. They're not going

628
00:34:51.559 --> 00:34:53.880
into tightening, which is a really good thing. There's gonna

629
00:34:53.880 --> 00:34:56.039
be more money entering the system. There's a lot of

630
00:34:56.039 --> 00:34:59.400
liquidity still, there's a lot of things to look at.

631
00:34:59.440 --> 00:35:04.159
We're being because of the seasonality and the technicals saying

632
00:35:04.159 --> 00:35:07.199
that we are overvalued, but on a corporate profit levels,

633
00:35:07.320 --> 00:35:11.079
we hit all time highs on US corporate profits in

634
00:35:11.119 --> 00:35:12.000
this second quarter.

635
00:35:12.400 --> 00:35:15.000
Right it looks it looks like from a technical aspect

636
00:35:15.039 --> 00:35:19.920
and using the all the algorithms, we're probably due for

637
00:35:19.960 --> 00:35:23.360
a five to ten percent pullback. September is historically, as

638
00:35:23.400 --> 00:35:26.360
I've said one hundred times here now, not a good month,

639
00:35:26.400 --> 00:35:29.559
and so that would be a logical place to expect it.

640
00:35:29.760 --> 00:35:34.119
October actually is a net positive month, has a bad

641
00:35:34.199 --> 00:35:37.360
reputation because it's the home of three of the biggest crashes,

642
00:35:38.119 --> 00:35:39.679
and we've got a lot more to talk about and

643
00:35:39.719 --> 00:35:41.920
we'll be back right after this break. Thanks again for

644
00:35:42.000 --> 00:35:43.880
joining us. This is the Money Matter Show.

645
00:35:45.480 --> 00:35:47.400
Welcome back to the Money Matters Show. My name is

646
00:35:47.400 --> 00:35:50.400
Todd Lik. I'm here with Dave Sherwood, Dean Greenberg, Dylan

647
00:35:50.440 --> 00:35:53.880
Greenberg and so bashion Board seeing we had a great

648
00:35:53.920 --> 00:35:58.000
week for the markets. We finished another month higher. It's

649
00:35:58.079 --> 00:36:01.199
the ninth out of the last left ten months, so

650
00:36:01.400 --> 00:36:04.000
it's been a really good rally. This week was all

651
00:36:04.039 --> 00:36:07.320
about Navidia. And before we go too much further, let's

652
00:36:07.320 --> 00:36:09.400
get a fun disclosure real quick.

653
00:36:09.480 --> 00:36:11.360
The show sponsored by Green Brig Financial Group and you

654
00:36:11.360 --> 00:36:14.199
can listen on seven to ninety KNIST or iHeartRadio. The

655
00:36:14.239 --> 00:36:17.599
show discusses different investment products and strategies. Every product in

656
00:36:17.639 --> 00:36:20.840
strategy have some type of inherent risks and we strongly

657
00:36:20.920 --> 00:36:23.840
encourage our listeners to properly understand the risks to determine

658
00:36:23.880 --> 00:36:26.320
whether to buy, sell or hold. The show has been

659
00:36:26.360 --> 00:36:28.559
on air for over thirty years. The Green Brig Financial

660
00:36:28.559 --> 00:36:31.039
Group is registered with SEC and a member of FINRA

661
00:36:31.199 --> 00:36:34.280
and SIPIK. Visit our website at Greenberg Financial dot com

662
00:36:34.280 --> 00:36:35.119
for some more information.

663
00:36:35.440 --> 00:36:37.639
Good job, buddy, we know that there were two big

664
00:36:37.760 --> 00:36:40.119
news items this past week. One, of course, was the

665
00:36:40.199 --> 00:36:44.400
Nvidia ernie's which we've talked about. They came in good, strong, strong, Ernie.

666
00:36:44.440 --> 00:36:49.199
The second one was the PCEE, the Personal Consumption Index

667
00:36:49.239 --> 00:36:53.760
personal Consumption expended here in dex thank you, and that

668
00:36:53.800 --> 00:36:55.800
came in at up two tenths of a percent for

669
00:36:55.840 --> 00:36:58.519
the month, up two point six percent year over year,

670
00:36:58.559 --> 00:37:03.079
which is exactly what analysts had expected. So that that

671
00:37:03.159 --> 00:37:04.880
helped a little bit on Friday too. That came out

672
00:37:04.920 --> 00:37:08.079
on Friday, But the market started off Friday strong based

673
00:37:08.119 --> 00:37:11.199
on that pce number and then fell and at one

674
00:37:11.239 --> 00:37:13.039
point I think the Dow was down over one hundred

675
00:37:13.079 --> 00:37:16.480
points and ended up the day up two hundred and

676
00:37:16.519 --> 00:37:21.199
twenty eight points. And again a mysterious surging in volume

677
00:37:21.440 --> 00:37:25.679
that last that last fifteen minutes that I can't get

678
00:37:25.679 --> 00:37:28.199
a handle on. But we'll know more over the weekend hopefully.

679
00:37:28.239 --> 00:37:31.079
Hey, do you remember the stories of you know, the

680
00:37:31.119 --> 00:37:34.440
black rocks the state streets buying up all the family

681
00:37:34.519 --> 00:37:38.800
homes and causing a real big issue. The idea that

682
00:37:38.840 --> 00:37:40.960
oh they could just keep you know, buying off all

683
00:37:40.960 --> 00:37:44.320
the homes and then just increase these rents like crazy

684
00:37:44.440 --> 00:37:46.840
because they'll have all the homes right. I saw an

685
00:37:46.880 --> 00:37:50.840
interesting chart that kind of speak to that trend. Metro

686
00:37:50.960 --> 00:37:55.079
areas with high concentrations of institutional investors, so that would

687
00:37:55.119 --> 00:37:57.760
be like a black rock or stay st right are

688
00:37:57.880 --> 00:38:02.079
generally seeing less rent growth than people that aren't institutional.

689
00:38:03.119 --> 00:38:06.760
And funny to point out, Phoenix is one of the

690
00:38:06.880 --> 00:38:11.880
highest institutional share of metro single home institutions on about

691
00:38:11.920 --> 00:38:16.920
thirteen percent of all the single family rental homes in Phoenix. Wow,

692
00:38:17.079 --> 00:38:19.840
and they had zero percent rent growth.

693
00:38:21.039 --> 00:38:21.440
Last year.

694
00:38:21.599 --> 00:38:24.920
So what you see is the people that have zero

695
00:38:25.000 --> 00:38:30.079
percent institutional ownership zero to three percent. Let's say there's

696
00:38:30.119 --> 00:38:33.679
a huge surge of cities that have anywhere from two

697
00:38:33.719 --> 00:38:36.280
to ten percent rent growth. So it seems like the

698
00:38:36.280 --> 00:38:39.719
people that aren't institutions are rising those rents a lot

699
00:38:39.760 --> 00:38:43.360
more than institutions are. It's kind of counterintuitive thing that

700
00:38:43.400 --> 00:38:44.719
most people probably wouldn't see.

701
00:38:44.920 --> 00:38:47.440
Sure have been a big change in the residential real

702
00:38:47.559 --> 00:38:50.239
estate market in the last three or four months. I

703
00:38:50.280 --> 00:38:53.519
had a client that had to sell her home for

704
00:38:53.679 --> 00:38:58.119
financial reasons, and she was really excited. She's loved this

705
00:38:58.199 --> 00:39:01.400
home to live there twenty years. Couldn't imagine that that

706
00:39:01.559 --> 00:39:04.480
wasn't the greatest place in the planet, and pretty sure

707
00:39:04.559 --> 00:39:07.320
she was going to have a bidding war and put

708
00:39:07.280 --> 00:39:11.199
it on the market in June at five eighty, and

709
00:39:11.199 --> 00:39:13.400
then I went to five sixty, and then I went

710
00:39:13.440 --> 00:39:16.320
to five forty. Today she's at five to ten, has

711
00:39:16.360 --> 00:39:19.679
not had an offer of any kind. So I mean

712
00:39:19.679 --> 00:39:21.800
that that's and I'm seeing a lot of a lot

713
00:39:21.800 --> 00:39:24.679
of for sale signs around town. I've not seen a

714
00:39:24.719 --> 00:39:27.559
lot of activity, but that's got to help.

715
00:39:27.679 --> 00:39:30.679
On a national level. You did see last week we

716
00:39:30.760 --> 00:39:33.039
had a pretty good report out of the home sales,

717
00:39:33.119 --> 00:39:38.760
the ITB, the also the x XBI XP no not

718
00:39:38.880 --> 00:39:43.639
XBI s about tech XHB. Those ets, the home builder

719
00:39:43.679 --> 00:39:46.119
ets made all the time highs last week. So it

720
00:39:46.199 --> 00:39:49.480
is interesting. I mean, I agree, I think it's a

721
00:39:49.519 --> 00:39:51.760
time if you're in home building and maybe take some

722
00:39:51.800 --> 00:39:55.039
profits off the table because what's coming doesn't look great.

723
00:39:55.960 --> 00:39:59.159
But it's really interesting to see them still at all

724
00:39:59.199 --> 00:40:01.480
time highs and making new all time highs.

725
00:40:01.679 --> 00:40:04.880
I watch my home maybe every ninety days on zill

726
00:40:05.119 --> 00:40:08.440
just for kicks. I'm not interested in selling my home

727
00:40:09.199 --> 00:40:11.199
on Zilla is down ten percent from where it was

728
00:40:11.199 --> 00:40:11.920
three months ago.

729
00:40:12.280 --> 00:40:15.360
Yeah, mine was down about five percent, you know, And

730
00:40:15.400 --> 00:40:18.480
I think obviously there's a difference between existing home builders,

731
00:40:18.679 --> 00:40:21.239
I mean home sellers, which are people that own homes

732
00:40:21.480 --> 00:40:24.280
and the ones that are actively selling them.

733
00:40:24.760 --> 00:40:27.000
Right. But now, if the home builders have been doing well,

734
00:40:27.000 --> 00:40:30.280
because if you wanted a home in the last year,

735
00:40:30.679 --> 00:40:32.599
you had to buy a new home or nothing because

736
00:40:32.639 --> 00:40:35.679
there was no inventory, but I'm suggesting that the inventory

737
00:40:35.719 --> 00:40:37.559
is starting to grow rather quickly.

738
00:40:37.280 --> 00:40:39.719
And not to mention all the incentives that these homebuilders

739
00:40:39.760 --> 00:40:41.000
were given the people.

740
00:40:40.920 --> 00:40:43.079
Right right, I'm thinking if there's a if there are

741
00:40:43.840 --> 00:40:47.760
a plethora of homes for sale in the secondary market,

742
00:40:47.840 --> 00:40:50.440
the home builders are probably not going to be enjoying

743
00:40:50.480 --> 00:40:52.159
the kind of run that they've been enjoying. So Todd,

744
00:40:52.159 --> 00:40:55.000
I agree with you. If you if you had homebuilder stocks,

745
00:40:55.000 --> 00:40:57.159
you might want to get trim some take a little

746
00:40:57.199 --> 00:40:59.079
take a little profit, maybe hedge a little bit. And

747
00:40:59.559 --> 00:41:02.480
again it depends upon your investment objectives. But those two

748
00:41:02.559 --> 00:41:05.599
big of extremely important numbers came out this week and

749
00:41:05.639 --> 00:41:09.400
they were both fine. So not surprisingly, it took a

750
00:41:09.480 --> 00:41:14.360
month that was negative pretty much all month into positive territory.

751
00:41:14.519 --> 00:41:17.880
We've been looking for a move from growth to value,

752
00:41:17.920 --> 00:41:22.360
and we're starting to see that pretty aggressively of late.

753
00:41:23.360 --> 00:41:26.519
Just in the month of August, we saw the S

754
00:41:26.599 --> 00:41:29.159
and P five hundred I'm sorry, we saw the tech

755
00:41:29.199 --> 00:41:32.440
having NASDAK gained six tenths of one percent, while the

756
00:41:32.480 --> 00:41:36.360
equal weighted RSP gained two and a half percent, so

757
00:41:36.559 --> 00:41:39.239
almost six times as much, five times as much, And

758
00:41:39.880 --> 00:41:43.599
the DVY and the VTV, which are the value in

759
00:41:43.679 --> 00:41:47.639
the indices, did even better. There was a point not

760
00:41:47.800 --> 00:41:50.079
too long ago where the S and P five hundred

761
00:41:50.159 --> 00:41:55.199
was up sixteen seventeen percent and the value ETFs were flat.

762
00:41:55.480 --> 00:41:58.039
Now the S and P five hundred up eighteen percent

763
00:41:58.360 --> 00:42:01.280
and the value ETFs are up twelve thirteen So they've

764
00:42:01.280 --> 00:42:04.960
they've been catching up very quickly, and that that's something

765
00:42:04.960 --> 00:42:08.440
we've been predicting for seven months finally starting to happen.

766
00:42:09.519 --> 00:42:11.559
Yeah, and I think a lot of people I've heard

767
00:42:11.800 --> 00:42:16.760
say that this rally has felt fake. The earnings are

768
00:42:16.840 --> 00:42:18.360
somewhat backing this stuff up.

769
00:42:18.960 --> 00:42:21.320
Oh yeah, yeah, No, there's it's real. I mean, there

770
00:42:21.320 --> 00:42:24.199
are real fundamentals. It's not Oh, this is so much

771
00:42:24.280 --> 00:42:27.079
like ninety nine in two thousand, I was there. It's

772
00:42:27.119 --> 00:42:30.679
not anywhere near like ninety nine and two thousand, nine nine,

773
00:42:30.719 --> 00:42:33.239
two thousand, there were hundreds of companies coming in public

774
00:42:33.480 --> 00:42:36.360
with no earnings, no sales, no business model, no nothing.

775
00:42:36.559 --> 00:42:37.400
It's just stupid.

776
00:42:37.599 --> 00:42:38.880
I mean we kind of saw it a few years

777
00:42:38.920 --> 00:42:42.280
ago with the Spec the Spec Frenzy, right, yeah, to

778
00:42:42.280 --> 00:42:42.880
some extent.

779
00:42:43.039 --> 00:42:45.880
Yeah, speaking of the spac Frenzy, have you been watching

780
00:42:45.920 --> 00:42:49.519
the djat d JT is Donald you know, Donald J.

781
00:42:49.639 --> 00:42:50.920
Trump, and it's gone Hamburg.

782
00:42:51.519 --> 00:42:54.880
It's it's it's interesting because Trump is Trump media, and

783
00:42:54.960 --> 00:42:58.760
it has a minuscular intrinsic value. It's only we think

784
00:42:58.760 --> 00:43:01.599
it's only one. It was two dollars a year, right,

785
00:43:01.719 --> 00:43:04.800
is what it's actually worth. They only had four million

786
00:43:04.840 --> 00:43:07.880
dollars in total revenue in the last twelve months. I

787
00:43:07.920 --> 00:43:11.239
did four million dollars. Stock, though, has become kind of

788
00:43:11.239 --> 00:43:14.679
a proxy, uh for Trump's chances, and it hit forty

789
00:43:14.719 --> 00:43:17.559
six dollars in mid July when he was when Biden

790
00:43:17.679 --> 00:43:19.880
was stumbling around, and it looked like it was going

791
00:43:19.920 --> 00:43:23.440
to be pretty easy. And stock's been slowly declining. It

792
00:43:23.519 --> 00:43:26.920
hit the lowest level that the stock did since it

793
00:43:26.960 --> 00:43:31.360
became since it merged with this back down under twenty bucks. Wow,

794
00:43:31.639 --> 00:43:34.320
and down more than fifty percent. Now, does that mean

795
00:43:34.639 --> 00:43:36.480
Trump doesn't have a chance. No, it means it's a

796
00:43:36.480 --> 00:43:38.639
more competitive contest than it was in July.

797
00:43:38.920 --> 00:43:41.159
And it means that again people were finding out that

798
00:43:41.199 --> 00:43:42.679
there's no intrinsic value within.

799
00:43:42.559 --> 00:43:44.360
This company that you know, that's got to come into

800
00:43:44.360 --> 00:43:46.639
play at some point, but until the election. I think

801
00:43:46.639 --> 00:43:49.000
it's probably a proxy for Trump's chances.

802
00:43:49.119 --> 00:43:51.639
I'm pretty sure that the amount of daily users on

803
00:43:51.719 --> 00:43:54.800
truth Social, which is what the that stock is based

804
00:43:54.800 --> 00:43:58.519
off of, is very very minus school compared to Twitter

805
00:43:58.880 --> 00:43:59.800
x Facebook.

806
00:44:00.079 --> 00:44:00.280
Yeah.

807
00:44:00.440 --> 00:44:03.800
Yeah, it's funny that I saw actually Trump talk about

808
00:44:03.800 --> 00:44:06.719
his true socialtings and mine's doing very well.

809
00:44:07.840 --> 00:44:08.320
No, it's not.

810
00:44:09.880 --> 00:44:14.440
If he spoke at the Bitcoin conference and Todd you

811
00:44:14.480 --> 00:44:17.719
talked a little bit about this. Three years ago, Trump

812
00:44:17.840 --> 00:44:21.440
had called bitcoin a scam, right right. But David Bailey,

813
00:44:21.519 --> 00:44:24.400
the CEO of media group BTC, this is the guy

814
00:44:24.400 --> 00:44:27.840
who put together that Nashville Bitcoin conference, met with Trump

815
00:44:27.840 --> 00:44:30.400
earlier this year. You wonder why Trump was at the

816
00:44:30.400 --> 00:44:34.119
bitcoin conference because Bailey promised him one hundred million dollars

817
00:44:34.119 --> 00:44:37.599
and five million votes. Where that happen or not, I

818
00:44:37.599 --> 00:44:40.159
don't know, but it's kind of funny that Trump called

819
00:44:40.199 --> 00:44:43.199
it a scam. It's funny because at the Bitcoin conference

820
00:44:43.199 --> 00:44:45.639
he was talking about how much power they need to

821
00:44:46.440 --> 00:44:50.320
mine bitcoin, and he said that that you don't ever

822
00:44:50.360 --> 00:44:52.400
have to worry about power. Once he becomes president. You're

823
00:44:52.440 --> 00:44:54.840
gonna have so much electricity. You're gonna be calling to day,

824
00:44:54.920 --> 00:44:57.840
mister President, please no more electricity. We can't take it.

825
00:44:59.079 --> 00:45:04.199
Yeah, it's pretty interesting his rhetoric. It's I will want

826
00:45:04.280 --> 00:45:05.159
heck of a strategy.

827
00:45:05.199 --> 00:45:07.440
I do think he is pretty smart for trying to

828
00:45:07.440 --> 00:45:09.159
go after that's bitcoin crowd. Though.

829
00:45:09.239 --> 00:45:11.800
Oh yeah, no, no question, no, no. If you're embracing

830
00:45:11.840 --> 00:45:12.559
that crowd, that's.

831
00:45:12.440 --> 00:45:18.159
A bitcoin people. They understand game theory.

832
00:45:17.320 --> 00:45:18.559
They do, and they also that way.

833
00:45:18.559 --> 00:45:21.280
I think they probably vote too, So that's a yeah,

834
00:45:21.400 --> 00:45:21.840
I would say.

835
00:45:21.960 --> 00:45:22.039
So.

836
00:45:22.440 --> 00:45:25.119
Speaking of stocks that are slumping, how about Walgreens.

837
00:45:25.679 --> 00:45:28.119
I haven't seen it lately, but under ten dollars.

838
00:45:27.760 --> 00:45:31.440
This year for the first time since nineteen ninety seven. Wow,

839
00:45:31.719 --> 00:45:34.199
And I'm thinking I was in Walgreens yet, And I'm thinking,

840
00:45:34.239 --> 00:45:35.960
you know, these guys go out of business. I've got

841
00:45:36.000 --> 00:45:39.400
a different life. I'm in there quite a bit. No,

842
00:45:39.519 --> 00:45:41.760
you don't, did, I'm in there quite a bit. I mean,

843
00:45:41.800 --> 00:45:44.960
I'm in Walgreens for a number. It's there's one like

844
00:45:45.000 --> 00:45:47.440
two blocks from my house. I'm in there a lot,

845
00:45:47.719 --> 00:45:49.679
and I find it very handy.

846
00:45:50.800 --> 00:45:53.480
But do you think it's you know, humans are creatures

847
00:45:53.480 --> 00:45:55.840
of habit, that's why you just keep going back.

848
00:45:56.000 --> 00:45:57.639
No, but if Walgreens would have go out of business,

849
00:45:57.800 --> 00:46:02.119
my life would be different, There's no question about it. Okay,

850
00:46:02.239 --> 00:46:04.000
you guys said that. You guys said a year ago

851
00:46:04.039 --> 00:46:07.480
that their business model was broken, and wow, it's just.

852
00:46:08.199 --> 00:46:10.679
Well, yeah, I mean that one came sooner than we thought.

853
00:46:10.880 --> 00:46:12.760
You know, Best Buys next.

854
00:46:13.920 --> 00:46:17.679
Speaking to best he's going to Best Buy reported sales

855
00:46:17.679 --> 00:46:21.679
and Ernie's a bucket. Expectations raised guidance of the sales

856
00:46:21.719 --> 00:46:25.519
of the AI computers are driving business stock moves seventeen

857
00:46:25.559 --> 00:46:27.840
percent higher at the open on Thursday to a two

858
00:46:27.920 --> 00:46:31.159
and a half year high. Why much maligned? Why? I

859
00:46:31.239 --> 00:46:33.039
just told you why Because they're selling the crap out

860
00:46:33.079 --> 00:46:34.079
of the AI computers.

861
00:46:34.559 --> 00:46:36.480
Yeah, but I thought the creamer was talking abou they're

862
00:46:36.519 --> 00:46:40.679
beating expectations. The expectations weren't that high. When you put

863
00:46:40.679 --> 00:46:42.320
the hurdle low, you know, I just gotta jump a

864
00:46:42.360 --> 00:46:42.920
little bit.

865
00:46:42.840 --> 00:46:44.599
Two and a half year high. Guys. Okay, I've been

866
00:46:44.599 --> 00:46:47.320
predicting this. You guys have been poo pulling it.

867
00:46:47.599 --> 00:46:48.119
I guess what.

868
00:46:48.719 --> 00:46:49.960
I'm right, you're wrong.

869
00:46:50.079 --> 00:46:51.000
I take my hat to you.

870
00:46:51.599 --> 00:46:55.920
Just trait. Wait, wait for the serious XCM. All right,

871
00:46:55.960 --> 00:46:57.079
that's what best Buy is going to be.

872
00:46:57.239 --> 00:46:59.480
To the serious one makes a lot of sense that,

873
00:46:59.519 --> 00:47:00.960
you know, when you get talk about it, it actually

874
00:47:00.960 --> 00:47:02.400
does make a lot of sense. I could live with that,

875
00:47:02.559 --> 00:47:05.079
Terry sec. I like it, but I could live without it.

876
00:47:05.119 --> 00:47:06.440
But you can't live without Walgreens.

877
00:47:06.480 --> 00:47:10.239
I don't think so. All I can. All I can

878
00:47:10.280 --> 00:47:13.159
tell you is my life would be very different without Walgres.

879
00:47:13.599 --> 00:47:15.280
Go up to Walgans to get this, go to Walgers

880
00:47:15.280 --> 00:47:17.719
to get that. If there's no Walgreans to go through,

881
00:47:17.760 --> 00:47:20.719
I'm not sure. Fortunately, I live in Talent and everything's nearby,

882
00:47:20.760 --> 00:47:22.840
so that's good. We will be back with the second

883
00:47:22.880 --> 00:47:25.800
half of The Money Matter Show after this break. Again.

884
00:47:25.880 --> 00:47:28.079
We thank you for joining us on this Labor Day weekend.

885
00:47:29.400 --> 00:47:31.159
Welcome back to the Money Matter Show. My name is

886
00:47:31.199 --> 00:47:34.440
Sebastian Borersinia. I'm here with David Sherwood, Todd Glick Junior,

887
00:47:34.519 --> 00:47:37.440
Dylan Greenberg, and Dean Greenberg a little rundown on the

888
00:47:37.519 --> 00:47:40.440
numbers this week. That Dow was up point nine percent

889
00:47:40.920 --> 00:47:42.719
s and P five hundred was up two tenths of

890
00:47:42.719 --> 00:47:47.119
a percentage. NASDAK composite was down point nine percent, Russell

891
00:47:47.159 --> 00:47:52.400
two thousand down tenth of per percentage, our RSP up

892
00:47:52.599 --> 00:47:53.440
point nine percent.

893
00:47:54.360 --> 00:47:55.760
We did to struggle through that one.

894
00:47:55.840 --> 00:47:58.599
Yeah, I butchered that a little bit. I'm sorry, I was.

895
00:47:59.280 --> 00:47:59.960
That was not good.

896
00:48:00.079 --> 00:48:02.079
Let's se that, you know, we can, we can work

897
00:48:02.119 --> 00:48:02.360
on that.

898
00:48:02.760 --> 00:48:05.079
You're not hearing Dean's voice and Dylan's voice. You may

899
00:48:05.800 --> 00:48:08.239
or may not know. Dean does an awful lot of

900
00:48:08.280 --> 00:48:12.639
work with kids. He's been coaching for decades. I love

901
00:48:12.679 --> 00:48:16.360
young men, loves coaching kids. Huh young men, young men? Yeah,

902
00:48:16.360 --> 00:48:19.800
what I say, kids kids, young men. Sorry, just sounds cool.

903
00:48:19.840 --> 00:48:20.760
I think you were one of them.

904
00:48:20.880 --> 00:48:21.519
Sounds cooler.

905
00:48:21.800 --> 00:48:23.239
I got it, and I got it right now. He's

906
00:48:23.280 --> 00:48:27.039
one of the coaches at Tucson High and they have

907
00:48:27.119 --> 00:48:30.000
a game, and they are on their way to the game.

908
00:48:30.119 --> 00:48:33.719
So Dean and Dylan are out the house, so to speak.

909
00:48:33.760 --> 00:48:36.360
Bitcoin back, well, sixty thousand todd.

910
00:48:36.400 --> 00:48:38.840
Right there, fifty nine k right, it's two hundred day.

911
00:48:39.000 --> 00:48:40.360
That's a tu day movie average.

912
00:48:40.519 --> 00:48:43.480
It doesn't want to figure it out. It's been there

913
00:48:43.519 --> 00:48:46.519
for like four weeks. It seems like I'm over here waiting.

914
00:48:47.039 --> 00:48:50.119
I got nothing for you. Yeah, I got some fun

915
00:48:50.159 --> 00:48:52.880
crypto fact for you. Okay, how many millionaires do you

916
00:48:52.880 --> 00:48:56.760
think crypto has made over it's a history.

917
00:48:56.960 --> 00:48:58.039
How many millionaires?

918
00:48:58.079 --> 00:48:58.320
Yeah?

919
00:48:59.119 --> 00:49:02.159
Thousands, Yeah, it's it's tens of thousands.

920
00:49:03.079 --> 00:49:05.000
Yeah, I would think. Yeah, I was just thinking about

921
00:49:05.119 --> 00:49:07.199
early when bitcoin is ten bucks.

922
00:49:07.079 --> 00:49:10.079
Right, right? A crypto in general, how many millionaires has

923
00:49:10.079 --> 00:49:11.800
it created?

924
00:49:12.599 --> 00:49:13.320
Thirty thousand?

925
00:49:13.559 --> 00:49:14.079
What do you think?

926
00:49:15.199 --> 00:49:18.760
One hundred thousand, one hundred and seventy two thousand.

927
00:49:18.400 --> 00:49:20.440
One hundred and seventy thousand millionaires from crypto?

928
00:49:21.239 --> 00:49:23.360
Wow, and that's doubled over the last year.

929
00:49:23.719 --> 00:49:25.440
That would have been really easy if you bought bitcoin,

930
00:49:25.559 --> 00:49:27.880
if you really understood and believed it early on it

931
00:49:27.960 --> 00:49:29.320
came out at ten bucks.

932
00:49:29.000 --> 00:49:30.960
Not even bitcoin. I mean, you could have missed bitcoin

933
00:49:31.000 --> 00:49:32.800
and got ethereum. You could have missed it. You're right,

934
00:49:32.880 --> 00:49:35.039
you could have got doge coin. There's so many of

935
00:49:35.039 --> 00:49:38.920
these crazy ones that we all missed. But hey, another

936
00:49:38.960 --> 00:49:41.280
one that's a fun fact about million who wants to

937
00:49:41.320 --> 00:49:44.280
be a millionaire. Everyone wants to be a millionaire, right, Navidia.

938
00:49:44.400 --> 00:49:46.960
How many millionairess that have they made since.

939
00:49:46.760 --> 00:49:47.880
The idea in video?

940
00:49:48.320 --> 00:49:52.480
Navidio video navidea yea, Navidia, okay.

941
00:49:52.599 --> 00:49:56.719
Whatever you say. Yeah, how many how many n video millionaires?

942
00:49:56.760 --> 00:49:58.639
Yeah, Navidia has how many millionaires?

943
00:50:01.719 --> 00:50:03.480
One hundred and seventy two thousand?

944
00:50:04.920 --> 00:50:06.119
Those the number Iges gave you.

945
00:50:06.239 --> 00:50:09.360
I know, I'm going to the odds. I'm going to

946
00:50:09.360 --> 00:50:11.199
the odds.

947
00:50:12.079 --> 00:50:14.719
Why would it be the number Idges? No, it's twenty

948
00:50:14.760 --> 00:50:15.760
thousand millionaires.

949
00:50:15.800 --> 00:50:17.159
Oh, we'll see if that's nothing.

950
00:50:17.119 --> 00:50:21.639
But that's very impressive for one company to create twenty thousands.

951
00:50:21.719 --> 00:50:24.000
If those people would have just bought Abercrombie and Fish,

952
00:50:24.079 --> 00:50:27.840
that betters so much. Isn't that weird? Isn't that weird?

953
00:50:27.920 --> 00:50:28.719
That is super weird.

954
00:50:29.559 --> 00:50:29.800
Fish.

955
00:50:30.079 --> 00:50:32.639
These people got into video back in like twenty ten,

956
00:50:32.880 --> 00:50:34.320
before the company was even known.

957
00:50:34.599 --> 00:50:37.320
That happened on Abercrombie and Fish was five bucks. Right, No,

958
00:50:37.639 --> 00:50:40.440
it's crazy that apercrimmyan Fish is out done in video

959
00:50:40.440 --> 00:50:42.519
over the last twelve months. It's just I mean, you

960
00:50:42.519 --> 00:50:45.639
wouldn't think anything had done better than in video.

961
00:50:45.840 --> 00:50:49.320
Yeah, but Ambercrombie and Fitch isn't making its employees millionaires.

962
00:50:49.360 --> 00:50:52.119
What I'm saying is Navidia has made its own employees,

963
00:50:53.519 --> 00:50:54.400
That's what I'm saying, and.

964
00:50:54.320 --> 00:50:56.440
That's why they're all lazy and don't want to work.

965
00:50:56.480 --> 00:50:59.239
And the video's employees, that's what they didn't see our

966
00:50:59.360 --> 00:51:01.679
article that all the employees I'm billires, so I don't

967
00:51:01.719 --> 00:51:07.920
care anymore. So the stock's done. Yeah, Apples, that's true.

968
00:51:07.960 --> 00:51:10.880
Apple's got a lot of millionaires. Microso got a lot

969
00:51:10.880 --> 00:51:13.880
of millionaires working there. Yeah, I saw an interesting kind

970
00:51:13.880 --> 00:51:17.760
of not a fun fact, but it's interesting that rear

971
00:51:17.920 --> 00:51:21.280
end collisions account for sixty percent of all traffic accidents.

972
00:51:21.320 --> 00:51:23.400
How many were sixty?

973
00:51:24.599 --> 00:51:27.400
I've been in four traffic accidents in my life. In

974
00:51:27.519 --> 00:51:30.639
sixty years of driving, I've been in four accidents. All

975
00:51:30.679 --> 00:51:33.480
of them involve people hitting me from behind, all four

976
00:51:33.480 --> 00:51:38.039
of them. So I was interested in this statistic. I

977
00:51:38.039 --> 00:51:40.440
think probably the most bizarre one. This is an interesting

978
00:51:40.440 --> 00:51:42.519
story for you guys. I was at I had got

979
00:51:42.559 --> 00:51:44.199
picked up a dinner and I was at the light

980
00:51:44.280 --> 00:51:47.840
at Bilopoloma there whatever street, the cross street that is,

981
00:51:48.119 --> 00:51:50.000
and I was sparked. I was I thought I had

982
00:51:50.039 --> 00:51:52.920
red light, and I was in a fairly low profile

983
00:51:53.440 --> 00:51:58.280
Jaguar at the time, and unbeknownst to me, this elderly

984
00:51:58.360 --> 00:52:01.920
gentleman came from behind at you go about fifty right

985
00:52:01.960 --> 00:52:05.320
there right hit me at that speed. I was stopped,

986
00:52:06.360 --> 00:52:08.960
went up in one of the you know buick hat whatever,

987
00:52:09.079 --> 00:52:12.480
big you know, old guy car went up over top

988
00:52:12.559 --> 00:52:15.679
of my Jaguar and I was looking at my windshield

989
00:52:15.719 --> 00:52:18.400
at his two front wheels. He was on top of

990
00:52:18.440 --> 00:52:22.079
my car. I had to crawl out the passenger door

991
00:52:23.039 --> 00:52:25.760
to get out. How bizarre is that?

992
00:52:26.280 --> 00:52:27.400
Wow, it's pretty good.

993
00:52:28.039 --> 00:52:31.000
That's a pretty pretty good significant ruin. And I called

994
00:52:31.039 --> 00:52:32.400
my wife and the cell phones said I'm gonna be

995
00:52:32.440 --> 00:52:36.760
little late with dinner. There was a car on top

996
00:52:36.800 --> 00:52:41.079
of my car. This is not good. This is not good.

997
00:52:41.079 --> 00:52:44.920
But we're in clishion is very common good news. And

998
00:52:45.000 --> 00:52:48.000
Tucson raytheon new all time high.

999
00:52:48.159 --> 00:52:52.400
That stock looks like it's got a road to the

1000
00:52:52.679 --> 00:52:53.880
I don't know, the moon, I don't know.

1001
00:52:55.280 --> 00:52:58.840
A very nice looking chart. The business seems to be strong,

1002
00:52:59.679 --> 00:53:02.880
and the Middle East seems to be providing plenty of business.

1003
00:53:03.159 --> 00:53:06.719
Yeah, that's for sure. Any slowdowns in the rush of

1004
00:53:06.800 --> 00:53:08.000
Ukraine stuff either.

1005
00:53:07.920 --> 00:53:10.679
No no, it seems like there's a gold Gold actually

1006
00:53:10.719 --> 00:53:13.280
had a down week, down eleven bucks finished to twenty five.

1007
00:53:13.719 --> 00:53:16.920
Eleven bucks, twenty five, sitting right at its all time

1008
00:53:16.960 --> 00:53:21.000
out change. Absolutely, I think you have. If you mean,

1009
00:53:21.360 --> 00:53:24.199
if you've seen that the dollar has lost value, your

1010
00:53:24.320 --> 00:53:25.760
theory holds up a little bit.

1011
00:53:25.880 --> 00:53:28.679
Yeah. No, They're supposed to move inversely to the dollar, right,

1012
00:53:28.800 --> 00:53:30.159
So I get it.

1013
00:53:30.920 --> 00:53:33.480
I mean there is some supplying demand aspect to it too,

1014
00:53:33.559 --> 00:53:36.000
But yeah, for sure, I think the dollar has a

1015
00:53:36.079 --> 00:53:37.039
huge impact on it.

1016
00:53:37.199 --> 00:53:39.079
I just keep waiting for the bubble to burst.

1017
00:53:39.840 --> 00:53:42.519
And why would there be a bubble on gold.

1018
00:53:42.800 --> 00:53:45.360
Because it's gone up so far so fast, the charts parabolic.

1019
00:53:45.719 --> 00:53:47.400
Just that's all. That's the only reason.

1020
00:53:47.440 --> 00:53:49.519
But you could argue that if it's been suppressed for

1021
00:53:49.559 --> 00:53:51.639
so long, maybe it's just finding where it should have

1022
00:53:51.679 --> 00:53:52.679
been before.

1023
00:53:53.360 --> 00:53:57.199
I think I suffer from being in the business a

1024
00:53:57.199 --> 00:53:59.880
long time, and I'm used to the top on gold

1025
00:54:00.199 --> 00:54:02.920
eight hundred that was always the top. Then it would

1026
00:54:02.920 --> 00:54:06.760
sell off.

1027
00:54:05.000 --> 00:54:06.800
Well because you can argue that with what was at

1028
00:54:06.840 --> 00:54:10.639
the two thousand level, it hit that like four times.

1029
00:54:10.519 --> 00:54:12.760
Right, that's in like two years. That's the number that

1030
00:54:12.760 --> 00:54:14.519
I used to have glued to my head was two thousand.

1031
00:54:14.760 --> 00:54:17.280
Yeah, yeah, two thousand. It's just a different world, and

1032
00:54:17.440 --> 00:54:19.760
I'm used to I'm used to go moving inversely to

1033
00:54:19.840 --> 00:54:22.480
the dollar. It has not over the past few months.

1034
00:54:22.840 --> 00:54:25.960
I just the types of things you learned from, uh,

1035
00:54:26.119 --> 00:54:28.840
from a few years in this business aren't playing out

1036
00:54:28.880 --> 00:54:30.960
with gold, which is what makes me nervous. It makes

1037
00:54:31.000 --> 00:54:32.639
me makes me think about there there's got to be

1038
00:54:32.679 --> 00:54:33.199
a bubble here.

1039
00:54:33.679 --> 00:54:35.400
Todd and I talk about it all the time. Everything

1040
00:54:35.440 --> 00:54:37.679
that we learned in school out the window, fishing my

1041
00:54:37.840 --> 00:54:39.480
market hypothesis, what is that?

1042
00:54:39.760 --> 00:54:40.039
Yeah?

1043
00:54:40.199 --> 00:54:43.880
You know, interest rates up, bond prices down. I don't know.

1044
00:54:44.320 --> 00:54:46.360
The one thing I the one thing I constantly think

1045
00:54:46.400 --> 00:54:49.639
back on, though, is is it's different this time? And

1046
00:54:49.840 --> 00:54:53.840
I learned early on it's never different this time. You know,

1047
00:54:54.199 --> 00:54:57.159
it can it can be skewed more than it's been

1048
00:54:57.199 --> 00:55:00.239
skewed before, but it's almost always never different this time.

1049
00:55:00.800 --> 00:55:03.440
Harley Davis, You see, this is kind of an interesting article.

1050
00:55:03.719 --> 00:55:07.519
They announced that they've dropped most of their diversity, equity

1051
00:55:07.599 --> 00:55:11.559
and inclusion efforts and have stopped consulting the Human Rights

1052
00:55:11.599 --> 00:55:15.320
Campaign metric for treatment of LBGTQ employees.

1053
00:55:15.960 --> 00:55:17.639
I'm surprised Harley Davidson was doing that.

1054
00:55:18.320 --> 00:55:21.039
Yes, guy's probably, but it's because of a backlash a

1055
00:55:21.119 --> 00:55:24.639
similar It follows a similar move by Tractor Supply after

1056
00:55:24.760 --> 00:55:29.400
online backlashes against these policies. And I thought to myself,

1057
00:55:29.480 --> 00:55:31.920
how about we hire the most qualified people and treat

1058
00:55:31.960 --> 00:55:34.360
them with respect. It's on park end of the story

1059
00:55:34.440 --> 00:55:37.119
kind of right, I mean, yeah.

1060
00:55:37.199 --> 00:55:38.840
It seems like that would be the smart play. Did

1061
00:55:38.880 --> 00:55:41.280
you guys see a firm this week? Yes, how about

1062
00:55:41.280 --> 00:55:44.599
that thirty five percent? How about that buy now, save later.

1063
00:55:44.599 --> 00:55:45.920
It's going to save the world.

1064
00:55:45.840 --> 00:55:48.079
By now pay later. And of course we were thinking

1065
00:55:48.079 --> 00:55:50.840
that they might be going out of business. I don't

1066
00:55:50.880 --> 00:55:54.360
know they were really, they were really struggling because what

1067
00:55:54.400 --> 00:55:57.159
was happening is it wasn't getting traction and they were

1068
00:55:57.159 --> 00:55:58.679
starting to experience defaults.

1069
00:55:59.440 --> 00:56:02.800
Does Clark is Clarina owned by a firm? Do we

1070
00:56:02.880 --> 00:56:04.000
know that? Maybe they're not.

1071
00:56:04.800 --> 00:56:05.360
I'm not sure.

1072
00:56:06.199 --> 00:56:07.840
I don't know. But not too long ago on the

1073
00:56:07.920 --> 00:56:09.920
radio show, I was talking to you about how Dave,

1074
00:56:10.760 --> 00:56:15.519
how every store at the Tucson Outlets accepts that Klarna

1075
00:56:15.880 --> 00:56:18.440
like by now pay later. Yeah, well, now I started

1076
00:56:18.440 --> 00:56:19.960
seeing it Tucson well and now. I see it at

1077
00:56:19.960 --> 00:56:21.679
in Cantata. I see it everywhere now.

1078
00:56:21.760 --> 00:56:23.639
Yeah, and I see it when I go onto Amazon.

1079
00:56:24.519 --> 00:56:26.800
Amazon that I don't know who it's through, but they

1080
00:56:27.119 --> 00:56:30.000
even offer that what could possibly go wrong? Right?

1081
00:56:30.119 --> 00:56:33.119
Speaking van Amazon, I was in California last week and

1082
00:56:33.159 --> 00:56:35.119
I got to go in one of those Amazon stores,

1083
00:56:35.239 --> 00:56:38.920
those Amazon Fresh, Amazon Fresh, tell me about it. I

1084
00:56:38.920 --> 00:56:41.920
couldn't tell if the prices were just so heavily inflated

1085
00:56:41.920 --> 00:56:44.119
because we were in an Amazon store, or if it

1086
00:56:44.159 --> 00:56:47.320
was because I was in California. There were still workers

1087
00:56:47.360 --> 00:56:50.719
in there. You walk in. Eggs were like seven eight

1088
00:56:50.719 --> 00:56:51.400
dollars a carton.

1089
00:56:51.639 --> 00:56:54.079
Is it all? Is it all a fresh produce or

1090
00:56:54.119 --> 00:56:56.039
is it the general.

1091
00:56:55.760 --> 00:56:58.159
There's fresh produce in there, and there's groceries there. It's

1092
00:56:58.199 --> 00:57:00.719
like a little Wahle Foods, like a neighbor Walmart type

1093
00:57:00.719 --> 00:57:01.800
of deal Whole Foods. Yeah.

1094
00:57:01.880 --> 00:57:04.559
Sure. And you said there were a limited number of

1095
00:57:04.559 --> 00:57:06.639
employees because nobody was checking out.

1096
00:57:06.719 --> 00:57:09.440
There was a couple places that you could go to

1097
00:57:09.519 --> 00:57:11.480
check outs. I think is for the people that were

1098
00:57:11.519 --> 00:57:15.519
first time users of the service. But I walked in,

1099
00:57:15.599 --> 00:57:18.800
walked through the thing, got what I needed, walked straight

1100
00:57:18.840 --> 00:57:21.119
out and charge my account. It was pretty good.

1101
00:57:21.119 --> 00:57:22.960
I think you said when you walked in you had

1102
00:57:22.960 --> 00:57:24.119
to id yourself.

1103
00:57:23.760 --> 00:57:27.000
Right, Yeah, because I was the first time, so I

1104
00:57:27.079 --> 00:57:29.760
had I had to take my Amazon out app outs

1105
00:57:29.760 --> 00:57:31.639
and actually scan the bar code.

1106
00:57:32.280 --> 00:57:35.079
That's fantastic because that'll that'll end shop left, that's the

1107
00:57:35.159 --> 00:57:35.559
end of it.

1108
00:57:35.880 --> 00:57:42.480
Well, no, it won't. Why what homeless guy has Amazon?

1109
00:57:44.440 --> 00:57:44.800
That's true.

1110
00:57:44.840 --> 00:57:48.559
Most guy get in there, that's the point I can

1111
00:57:48.559 --> 00:57:49.280
get into office.

1112
00:57:49.360 --> 00:57:51.440
I don't think homeless guy's going to have Amazon Prime.

1113
00:57:51.559 --> 00:57:56.559
Yeah, probably, okay, but he's the only way. The only

1114
00:57:56.559 --> 00:57:57.960
way that he doesn't get in there is if there's

1115
00:57:57.960 --> 00:58:01.079
somebody working in the store right there at that time.

1116
00:58:01.480 --> 00:58:02.800
It's not like a locked door.

1117
00:58:03.400 --> 00:58:04.960
No oh, I thought it was a gate.

1118
00:58:05.159 --> 00:58:06.760
Well it is a gate. But I mean if I'm

1119
00:58:06.800 --> 00:58:07.280
home with the.

1120
00:58:07.239 --> 00:58:10.159
Gate doesn't open and like you identify yourself right, walk

1121
00:58:10.239 --> 00:58:12.760
right over it. What do you mean, walk right over it?

1122
00:58:12.760 --> 00:58:16.800
It's like it's like a little like a roller coaster thing,

1123
00:58:16.840 --> 00:58:19.199
you know what I mean that you pushed into like

1124
00:58:19.400 --> 00:58:20.159
sins around.

1125
00:58:20.440 --> 00:58:21.320
Oh yeah, like.

1126
00:58:21.360 --> 00:58:21.880
For a train.

1127
00:58:21.960 --> 00:58:22.800
But yeah, for a train.

1128
00:58:23.360 --> 00:58:25.280
Even if you don't scan yours, No, it won't work.

1129
00:58:25.320 --> 00:58:27.199
But I mean you can, but you can just go

1130
00:58:27.280 --> 00:58:29.840
over it, walk over it or something whatever.

1131
00:58:29.920 --> 00:58:31.519
If you're going to be one of those kind of people.

1132
00:58:32.840 --> 00:58:37.639
Well, I see people walking Walgerens and stuff stock.

1133
00:58:38.000 --> 00:58:40.280
I'm thinking with Walggings, your stock is now, it's ninety

1134
00:58:40.320 --> 00:58:43.239
seven nineteen ninety seven prices, might be time to hire

1135
00:58:43.280 --> 00:58:45.360
a security guard. I don't know, just throwing that out there.

1136
00:58:45.440 --> 00:58:47.800
I was actually trying to look into private or publicly

1137
00:58:47.880 --> 00:58:53.159
held companies or public trader companies that outsourced like private security.

1138
00:58:53.199 --> 00:58:54.920
I was thinking that could be right.

1139
00:58:55.400 --> 00:58:57.039
My gym is right next to a Ross store, and

1140
00:58:57.079 --> 00:58:59.159
they have security guards at the Ross store.

1141
00:58:59.360 --> 00:59:01.199
I'm sure they don't stolen from.

1142
00:59:01.360 --> 00:59:03.039
They probably do, but you got a security guide there,

1143
00:59:03.079 --> 00:59:04.239
at least at least making.

1144
00:59:04.039 --> 00:59:06.679
It given some form of deterrence, some.

1145
00:59:06.920 --> 00:59:09.519
Form of deterrent, any form of assurment. Walgreen just just

1146
00:59:09.559 --> 00:59:11.760
hey and I have nice days, joy your free stuff.

1147
00:59:11.920 --> 00:59:13.760
It's like, look at these idiots here pain.

1148
00:59:14.079 --> 00:59:17.119
Yeah, yeah, I mean I told you about that the

1149
00:59:17.199 --> 00:59:18.800
guy that came in and got like five or six

1150
00:59:18.960 --> 00:59:21.519
twenty four packs of soda and just walked out right,

1151
00:59:21.599 --> 00:59:23.440
And I'm there paying for my stuff. I thought, why

1152
00:59:23.480 --> 00:59:27.480
am I paying? Right? It's got hand how about the

1153
00:59:28.159 --> 00:59:31.239
PDE Holdings about Tu.

1154
00:59:31.400 --> 00:59:34.280
Huh yeah, PDD glad we got out of at a

1155
00:59:34.280 --> 00:59:35.039
couple of months ago.

1156
00:59:35.239 --> 00:59:36.280
PDD Holdings.

1157
00:59:36.559 --> 00:59:39.920
I don't know what using the parent of Timu, right,

1158
00:59:40.440 --> 00:59:42.480
Pinduo Duo, that's what their name is.

1159
00:59:43.199 --> 00:59:46.000
Parent on more than thirty percent on Monday, after the

1160
00:59:46.000 --> 00:59:49.199
company reported disappointing revenue for the most recent quarter, said

1161
00:59:49.239 --> 00:59:53.679
pressures on revenue growth are likely to continue. That probably

1162
00:59:53.800 --> 00:59:57.079
goes hand in hand with the Chinese economy, don't you think, Well, it.

1163
00:59:56.960 --> 01:00:00.320
Was really interesting to look at their quarter over order

1164
01:00:00.360 --> 01:00:03.880
because it's previous quarter they killed it. In this quarter

1165
01:00:03.920 --> 01:00:06.880
they just fell off a cliff. But the interesting thing

1166
01:00:06.920 --> 01:00:09.920
is I dug into their earnings and the revenue was fine,

1167
01:00:10.599 --> 01:00:13.599
but their earnings was off a cliff.

1168
01:00:14.360 --> 01:00:17.920
So yes, it's because it's the Chinese ADR American Depository

1169
01:00:17.960 --> 01:00:19.000
receipt and they're lying.

1170
01:00:20.519 --> 01:00:21.880
No, I don't think it's that. I think they have

1171
01:00:21.960 --> 01:00:23.480
a lot of costs. I think a lot of these

1172
01:00:23.519 --> 01:00:26.079
discounts are starting to finally show up on their accounting.

1173
01:00:26.679 --> 01:00:28.639
I see a lot of stuff on social media about

1174
01:00:29.039 --> 01:00:32.239
about false stuff, false stuff about Tu.

1175
01:00:33.119 --> 01:00:35.440
Well, I think, well, first off, it's child they use

1176
01:00:35.519 --> 01:00:39.199
child labor so if you don't, that's being very clear

1177
01:00:39.199 --> 01:00:44.360
about that. They do use child labor. But also, yeah,

1178
01:00:44.440 --> 01:00:46.960
you could say that there's some accounting issues. I mean

1179
01:00:47.000 --> 01:00:51.360
we saw here with super micro computer, right, but also

1180
01:00:51.559 --> 01:00:55.360
on top of that the revenue, you could totally see it.

1181
01:00:55.400 --> 01:00:57.960
But when you have discounts like that, if you go

1182
01:00:58.000 --> 01:01:02.400
to their website, they're crazy. They're probably paying some discount

1183
01:01:02.480 --> 01:01:05.280
or wholesaler a pretty good chunk of money to get

1184
01:01:05.280 --> 01:01:07.800
people to start using their site, and that front end

1185
01:01:07.840 --> 01:01:09.559
cost is starting to probably show up.

1186
01:01:10.480 --> 01:01:13.480
Ali Baba felt some of that pain from PDD. That's

1187
01:01:13.519 --> 01:01:17.239
been an interesting one lately, been trading the seventies. They've

1188
01:01:17.239 --> 01:01:20.000
been battling some anti trust.

1189
01:01:20.880 --> 01:01:23.760
There's much some kind of a accounting review or whatever.

1190
01:01:23.880 --> 01:01:26.639
Ali Baba. Yeah, yeah, and so they completed and they

1191
01:01:26.719 --> 01:01:28.559
just completed that. In the stock rallied on Friday. I

1192
01:01:28.559 --> 01:01:30.320
think that was up three or four percents. But that's

1193
01:01:30.360 --> 01:01:33.760
been one that I've just been I can't get it right.

1194
01:01:34.159 --> 01:01:37.880
Yeah, while we're dealing in the beautiful world of accounting,

1195
01:01:38.519 --> 01:01:42.519
super Micro wow, Yeah, they're doing something funny over there.

1196
01:01:42.599 --> 01:01:45.000
Huh. It seems like it. It seems like it. And

1197
01:01:45.000 --> 01:01:48.400
there's a short seller. That's you know, this is a

1198
01:01:48.440 --> 01:01:51.480
short selling, is selling stock that you don't own in

1199
01:01:51.559 --> 01:01:54.239
the hope that you'll buy it back cheaper. And so

1200
01:01:54.280 --> 01:01:56.239
the shortsur comes out and says all kinds of bad

1201
01:01:56.280 --> 01:01:58.559
things about the company and their accounting, and the stock

1202
01:01:58.679 --> 01:02:02.079
tanks thirty percent and he probably bought it all back, right.

1203
01:02:02.519 --> 01:02:05.440
I mean, I struggle with that. I struggle with how

1204
01:02:05.440 --> 01:02:07.599
a short seller can go out there and make negative

1205
01:02:07.639 --> 01:02:10.320
comments about a company.

1206
01:02:10.519 --> 01:02:14.440
Well to a point, if you do the research and

1207
01:02:14.519 --> 01:02:17.400
others see your research, and then they agree with your research.

1208
01:02:18.639 --> 01:02:21.920
You know, if they agree with the researcher or one

1209
01:02:21.920 --> 01:02:25.119
thing about super Micro, it's pretty hot money. The people

1210
01:02:25.119 --> 01:02:26.880
that are in that it's a bobbletal stock, and it's

1211
01:02:26.880 --> 01:02:29.320
pretty hot money. So that hot money is going to

1212
01:02:29.400 --> 01:02:32.039
move very quickly if you give many reason to move

1213
01:02:32.079 --> 01:02:35.920
one way or the other. We've talked a little bit

1214
01:02:35.920 --> 01:02:38.480
about fitness a couple of weeks ago, and I noticed

1215
01:02:38.960 --> 01:02:41.840
an article. All of the major gyms and even Paloton

1216
01:02:42.079 --> 01:02:46.480
Peloton are de emphasizing cardio and increasing exposure to strength

1217
01:02:46.519 --> 01:02:50.039
training as most younger people like you guys, have that

1218
01:02:50.079 --> 01:02:52.920
as their number one goal, strength training as opposed to

1219
01:02:52.920 --> 01:02:56.039
cardio something to watch for. I think going forward, it's easier.

1220
01:02:56.639 --> 01:02:57.440
Huh, it's.

1221
01:02:59.159 --> 01:03:03.320
You said, what's what drink training is easier to cardio. Yeah,

1222
01:03:03.360 --> 01:03:03.840
I get that.

1223
01:03:03.880 --> 01:03:04.760
I can attest to that.

1224
01:03:04.840 --> 01:03:07.280
I get that. Yeah, I get that. I can tell

1225
01:03:07.559 --> 01:03:10.559
from my gym the weight area of the gym is

1226
01:03:10.599 --> 01:03:13.199
a lot busier than it's been in the past. Oh yeah,

1227
01:03:13.239 --> 01:03:15.199
past ninety days or so. So it really is a

1228
01:03:15.719 --> 01:03:19.760
is a trend. Peloton's working on transitioning. The company recently

1229
01:03:19.840 --> 01:03:22.079
reported an increase in sales for the first time in

1230
01:03:22.119 --> 01:03:26.119
over two years. Peloton actually increased sales. They also lost

1231
01:03:26.159 --> 01:03:28.639
fifty percent less money than they were expected to. There's

1232
01:03:28.639 --> 01:03:31.480
also Planet Fitness was upgraded to a buy it, Baird

1233
01:03:32.280 --> 01:03:35.519
saying shares are attractive play in a slowing environment.

1234
01:03:36.679 --> 01:03:38.639
I feel like a lot of people are going towards

1235
01:03:38.679 --> 01:03:41.559
the boutique type gyms like F forty five. Have you

1236
01:03:41.559 --> 01:03:44.760
heard of what that is? I have not F forty five. Again,

1237
01:03:44.760 --> 01:03:46.960
it's a boutique type gym means you go pay like

1238
01:03:47.000 --> 01:03:49.559
two hundred dollars a month or something, and every single

1239
01:03:49.599 --> 01:03:53.239
class that you go so that workout that day is

1240
01:03:53.239 --> 01:03:56.199
played across all F forty five gyms in the United States.

1241
01:03:56.920 --> 01:03:59.239
I don't know why people really enjoy that. So they

1242
01:03:59.320 --> 01:04:02.320
like being part of the culture, They like being hanging

1243
01:04:02.360 --> 01:04:06.800
their hats somewhere, I guess, And I feel like that's

1244
01:04:06.800 --> 01:04:08.760
starting to become a trends in the gym space.

1245
01:04:09.039 --> 01:04:09.199
Well.

1246
01:04:09.239 --> 01:04:12.440
I think it's what we're seeing in this generation is

1247
01:04:13.559 --> 01:04:15.920
it's a way to be social and meet new people

1248
01:04:16.599 --> 01:04:20.119
in a way that's other than a bar. Most people

1249
01:04:20.280 --> 01:04:22.519
in this day and age, with all the phones and technology,

1250
01:04:22.559 --> 01:04:25.960
you don't have a way to connect with people.

1251
01:04:26.239 --> 01:04:27.920
You're not going to the library work.

1252
01:04:28.360 --> 01:04:31.920
You're either going to work maybe a bar, right, which

1253
01:04:31.960 --> 01:04:34.159
is unfortunate because a lot of people don't want to drink.

1254
01:04:34.159 --> 01:04:36.480
They don't want to be social at a bar. Right,

1255
01:04:36.639 --> 01:04:40.320
what's the other option? You know, most people aren't religious

1256
01:04:40.320 --> 01:04:43.360
these days, especially the younger generation, so that doesn't necessarily

1257
01:04:43.360 --> 01:04:45.320
so if you think about, like where do you get

1258
01:04:45.719 --> 01:04:48.679
new people? Right, I mean it's a gym is one

1259
01:04:48.719 --> 01:04:51.119
of those places that's really starting to be that kind

1260
01:04:51.119 --> 01:04:53.119
of social club type of thing.

1261
01:04:53.559 --> 01:04:56.119
Yeah, I can see that. I can see that. We

1262
01:04:56.159 --> 01:04:59.280
saw more news about Hershey did Hershey has been struggling

1263
01:04:59.320 --> 01:05:01.239
with Coco price. The stock has been kind of dead

1264
01:05:01.239 --> 01:05:04.360
in the water, down seven percent in the last twelve months,

1265
01:05:04.599 --> 01:05:07.039
a little bit lower on Tuesday after City Group actually

1266
01:05:07.079 --> 01:05:10.119
downgraded the shrifes to a cell, which I thought was

1267
01:05:10.199 --> 01:05:11.960
kind of an interesting call because it's at a fairly

1268
01:05:12.000 --> 01:05:16.000
little level. Yeah, it is for the stock. And on

1269
01:05:16.039 --> 01:05:18.920
the other side of the coin, Cava, that's the Mediterranean

1270
01:05:19.000 --> 01:05:22.960
version of Chipotle has tripled over the last nine months

1271
01:05:23.599 --> 01:05:27.119
and shot up another twenty five percent after a strong

1272
01:05:27.199 --> 01:05:30.639
quarterly report on the twenty third. Rallied again last Monday

1273
01:05:30.639 --> 01:05:31.840
as the analysts pile in.

1274
01:05:32.599 --> 01:05:36.000
I'd tried carefully there, well, I would tread carefully there.

1275
01:05:36.000 --> 01:05:39.239
It's all, yeah, three hundred fifty times earnings. Yeah, three

1276
01:05:40.280 --> 01:05:42.519
hundred and fifty times earnings. So you've got to be

1277
01:05:42.599 --> 01:05:44.039
growing pretty darn fast.

1278
01:05:44.760 --> 01:05:47.119
Meanwhile, Chipotle's becoming attractive.

1279
01:05:46.760 --> 01:05:47.559
Yeah, yes.

1280
01:05:47.679 --> 01:05:51.119
And then interesting after the Chipotle CEO, of course everybody knows,

1281
01:05:51.199 --> 01:05:54.239
went to Starbucks to become their new CEO, and Starbucks

1282
01:05:54.280 --> 01:05:57.239
shot up twenty five percent and it's held that gain. Interestingly,

1283
01:05:57.559 --> 01:05:59.440
I didn't think then some I didn't think it would,

1284
01:05:59.599 --> 01:06:03.960
but it's that game. And Chipotle got hit about ten

1285
01:06:04.000 --> 01:06:05.920
percent to the downside, but it just come right back,

1286
01:06:07.039 --> 01:06:12.639
and uh yeah, probably you probably could could attribute some

1287
01:06:12.719 --> 01:06:15.239
of that to the fact that Chipotle was already down

1288
01:06:15.320 --> 01:06:18.199
about fifteen percent when he had thought when he announced

1289
01:06:18.280 --> 01:06:21.440
he was leaving, so it was already starting to get

1290
01:06:21.679 --> 01:06:26.239
attractive from a fundamental point of view. They will miss

1291
01:06:26.320 --> 01:06:30.239
him as a CEO. He was a fantastic CEO. Starbucks

1292
01:06:31.000 --> 01:06:31.800
did a great deal.

1293
01:06:31.719 --> 01:06:34.280
Love him, huh, I said, Starbucks will love him.

1294
01:06:34.320 --> 01:06:36.239
Yeah, I think Starbucks will love him again with the

1295
01:06:36.360 --> 01:06:38.639
jury still out though, with this Starbucks jumping twenty five

1296
01:06:38.679 --> 01:06:41.599
percent and hanging on to it again. He's got no

1297
01:06:41.679 --> 01:06:44.679
China experience, he has got no experience with unions.

1298
01:06:44.719 --> 01:06:46.320
He's got a big commute.

1299
01:06:46.159 --> 01:06:48.679
He's got he's going to work from home. Uh, you know,

1300
01:06:49.679 --> 01:06:53.599
I don't know. I think it's a spectacular hire, but

1301
01:06:53.639 --> 01:06:57.239
I'm surprised that stock didn't pull back, you know, five

1302
01:06:57.320 --> 01:07:00.960
or ten percent from the the excitement hype that it hit.

1303
01:07:01.079 --> 01:07:04.039
What about Warren Buffett's Berkshire Hathaway.

1304
01:07:03.960 --> 01:07:09.559
One trillion dollar market cap, first non tech stock ever.

1305
01:07:09.639 --> 01:07:12.280
Two days before the Oracle of Omaha turned ninety four

1306
01:07:12.360 --> 01:07:12.800
years old.

1307
01:07:14.039 --> 01:07:18.159
One trillion dollar market cap, first non tech stock ever.

1308
01:07:19.079 --> 01:07:24.400
Boy impressive, very impressive. Good job, buddy. Apple's unbuiling their

1309
01:07:24.480 --> 01:07:28.079
new iPhone sixteen, which is going to have AI capability.

1310
01:07:28.119 --> 01:07:33.519
If anybody cares on nine to nine means they might

1311
01:07:34.280 --> 01:07:36.519
it's something to think about. They might be selling them

1312
01:07:36.559 --> 01:07:39.800
for up to three weeks during this quarter, which is

1313
01:07:39.800 --> 01:07:42.559
going to make a heck of a difference in Ernie's true.

1314
01:07:43.119 --> 01:07:46.159
I mean, if I'm thinking my personal you're telling me

1315
01:07:46.239 --> 01:07:49.719
your phone has AI? What can it really do? Right now?

1316
01:07:49.880 --> 01:07:52.000
I don't know what they want to see those marketing

1317
01:07:52.079 --> 01:07:55.400
you know, those commercials. Sure the event, I'm sure event's

1318
01:07:55.400 --> 01:07:59.320
coming out here soon. Sure that will explain all those capabilities.

1319
01:07:59.519 --> 01:08:02.159
They really the mini analysts expect it to be the

1320
01:08:02.159 --> 01:08:04.480
biggest upgrade cycle ever for the company.

1321
01:08:04.599 --> 01:08:07.239
Right, But is it maybe the second aiphone or the

1322
01:08:07.239 --> 01:08:10.519
first one? That'd be my work? The bugs out right,

1323
01:08:10.679 --> 01:08:12.480
you know what I mean? Because sometimes the first one

1324
01:08:12.519 --> 01:08:14.599
isn't quite what everyone was looking for, and then the

1325
01:08:14.599 --> 01:08:16.079
second one's perfect.

1326
01:08:16.600 --> 01:08:18.359
No, I do I get it. I get I do

1327
01:08:18.439 --> 01:08:20.920
think though that if they comes out on nine nine,

1328
01:08:20.960 --> 01:08:23.720
and the question I have is will it be available

1329
01:08:23.800 --> 01:08:26.159
nine nine? In other words, they're going to announce it

1330
01:08:26.239 --> 01:08:27.920
nine nine, But will you be able to go into

1331
01:08:28.000 --> 01:08:29.760
Verizon in Tucson, Arizona, and.

1332
01:08:29.640 --> 01:08:31.079
Buy highly doubt it.

1333
01:08:31.840 --> 01:08:33.600
iPhone sixteen on nine nine.

1334
01:08:33.760 --> 01:08:35.079
Maybe you could get it at best Buy.

1335
01:08:35.479 --> 01:08:38.079
There you go. But if it's buy and get it absolutely,

1336
01:08:38.279 --> 01:08:41.479
But if you can, if you can start actually physically

1337
01:08:41.520 --> 01:08:44.520
buying them nine nine, we're probably going to have a

1338
01:08:44.720 --> 01:08:48.119
quarter quarterly reports. It's going to be way better than expected.

1339
01:08:48.520 --> 01:08:51.039
Yeah, I just don't see. That's no, that's not normally

1340
01:08:51.039 --> 01:08:51.680
how they do it.

1341
01:08:52.279 --> 01:08:54.880
And have the announcement and then then they send them out.

1342
01:08:55.119 --> 01:08:57.439
Phone has become available. Intel. Let's talk a little bit

1343
01:08:57.479 --> 01:09:02.319
about Intel. Intail the worst perform forming Dove stock by far,

1344
01:09:02.479 --> 01:09:06.680
down fifty eight percent this year. They hired Morgan Stanley

1345
01:09:06.720 --> 01:09:09.760
to help them shore up their defenses against an activist

1346
01:09:09.800 --> 01:09:13.359
should one come calling. They're also working with bankers to

1347
01:09:13.439 --> 01:09:17.279
explore options to address recent weakness in this core business,

1348
01:09:18.000 --> 01:09:20.039
which since the shares eight percent higher at the open

1349
01:09:20.079 --> 01:09:22.640
on Friday, and I'm sitting there looking at that, going

1350
01:09:23.199 --> 01:09:25.920
it's just going to be the next three M, because

1351
01:09:25.960 --> 01:09:29.239
you remember three M. Three M has been struggling with

1352
01:09:29.279 --> 01:09:33.720
a weight of multiple lawsuits, major lawsuits, some of which

1353
01:09:33.760 --> 01:09:36.760
are getting resolved, some of them which have not been resolved.

1354
01:09:37.359 --> 01:09:40.680
The stock was the worst performing dovestock in twenty two,

1355
01:09:41.600 --> 01:09:44.840
it was the worst performing dovestock in twenty three, and

1356
01:09:44.920 --> 01:09:46.520
in twenty four. Where is this fashion?

1357
01:09:46.960 --> 01:09:48.920
I think it's up there, number one, number one.

1358
01:09:48.880 --> 01:09:51.600
Right, number one best performing dove stock. And I'm sitting

1359
01:09:51.600 --> 01:09:54.479
there looking at Intel, going if they got another year

1360
01:09:54.560 --> 01:09:56.199
down here at the bottom before.

1361
01:09:55.920 --> 01:09:59.800
We get going, or boy, we hope, so we hope.

1362
01:09:59.800 --> 01:10:04.239
So wait, it doesn't have another year down here at

1363
01:10:04.239 --> 01:10:06.800
the bottom it gets going. I was gonna say, I

1364
01:10:06.800 --> 01:10:08.960
don't think, you know, I don't hope, so we don't

1365
01:10:08.960 --> 01:10:10.439
have a lot of Intel in the office, to be

1366
01:10:10.439 --> 01:10:12.640
honest with you, but it might be a place to

1367
01:10:12.640 --> 01:10:13.920
start looking at it. I don't know.

1368
01:10:14.199 --> 01:10:17.119
Yeah. I mean again, how do you build a multi

1369
01:10:17.199 --> 01:10:21.279
billion dollar foundry somewhere and you're going out of business?

1370
01:10:21.479 --> 01:10:21.680
Right?

1371
01:10:21.760 --> 01:10:26.319
It normally doesn't work that way. So I can't imagine

1372
01:10:26.319 --> 01:10:27.960
they're going out of business. I'm just gonna put it

1373
01:10:28.039 --> 01:10:29.840
that way. No, who knows how low they can go,

1374
01:10:30.000 --> 01:10:31.479
but I don't think they're going out of business.

1375
01:10:31.640 --> 01:10:34.199
Yeah, let's just say, can you say the same thing

1376
01:10:34.199 --> 01:10:37.760
about Walgreens? No, I think they're going out of business.

1377
01:10:37.800 --> 01:10:40.319
I think Walgreens is gonna ultimately go out of business.

1378
01:10:41.359 --> 01:10:43.079
Let me, it's have a tough call, Okay, I get

1379
01:10:43.079 --> 01:10:46.239
that the odds are are almost zero that they will

1380
01:10:46.279 --> 01:10:47.439
not go out of business, but they could.

1381
01:10:47.760 --> 01:10:50.000
Yeah, I would say five. You have to give them

1382
01:10:50.000 --> 01:10:52.239
at least five more years before they're even closed.

1383
01:10:52.319 --> 01:10:52.560
Yeah.

1384
01:10:52.680 --> 01:10:55.399
Remember back earlier this year, Apple was on the bottom

1385
01:10:55.439 --> 01:10:57.920
of that doll list. It was now they're up there.

1386
01:10:57.920 --> 01:10:59.399
I think there might be six or seven.

1387
01:10:59.520 --> 01:11:03.880
Yeah, it was in the bottom third for sure of that.

1388
01:11:04.000 --> 01:11:05.520
And that's kind of how it goes. If you look

1389
01:11:05.520 --> 01:11:07.520
at that list of thirty stocks that are in the Dow,

1390
01:11:07.640 --> 01:11:10.680
those are at at the bottom will ultimately be at

1391
01:11:10.680 --> 01:11:12.600
the top. You just don't know what the timing is

1392
01:11:14.399 --> 01:11:17.600
like with Intel, do you buy Intel here because there's

1393
01:11:18.079 --> 01:11:22.199
a dog may get worse. It may stay at the

1394
01:11:22.199 --> 01:11:24.119
bottom for two years, might stay at the bottom for

1395
01:11:24.119 --> 01:11:29.159
three years before it hopefully recovers and gets started the top.

1396
01:11:30.239 --> 01:11:35.479
The Intel is struggling mightily in a business that should

1397
01:11:35.560 --> 01:11:38.880
be booming, and it just makes you scratch your head

1398
01:11:38.880 --> 01:11:42.840
and say, gosh, how can you make so many incorrect decisions?

1399
01:11:43.079 --> 01:11:45.600
We appreciate you joining us on this Labor Day weekend.

1400
01:11:45.800 --> 01:11:47.920
We've got two more segments for you. I hope you're

1401
01:11:47.960 --> 01:11:50.079
enjoying the show. We'll be back right after this break.

1402
01:11:50.079 --> 01:11:51.079
Thanks again for listening.

1403
01:11:52.640 --> 01:11:54.640
Welcome back to the Money Matter Show. My name is

1404
01:11:54.640 --> 01:11:57.840
Todd Glick. I'm here with Day Sure with and Sebastian Borssini.

1405
01:11:58.359 --> 01:12:00.640
Have an interesting little fact for us as we bring

1406
01:12:00.640 --> 01:12:03.520
in this segment. We always hear about credit card debt

1407
01:12:03.760 --> 01:12:07.079
and how it's hit new all time highs. Nominally, yes,

1408
01:12:07.239 --> 01:12:11.479
right on a nominal basis, But if you actually adjusted

1409
01:12:11.600 --> 01:12:14.800
for inflation the credit card debt levels, we're actually only

1410
01:12:14.840 --> 01:12:17.960
one point eight percent higher than where we were before

1411
01:12:18.000 --> 01:12:21.720
twenty twenty, and we're still below the peak of two

1412
01:12:21.760 --> 01:12:25.119
thousand and two thousand and eight, which is pretty surprising

1413
01:12:25.119 --> 01:12:25.880
the most people, I.

1414
01:12:25.840 --> 01:12:29.760
Think now, using what measure god, if.

1415
01:12:29.720 --> 01:12:33.600
You adjust the US revolving credit card debt for inflation.

1416
01:12:33.279 --> 01:12:37.359
I see so inflation that joshed were below where we

1417
01:12:37.359 --> 01:12:38.680
were in two thousand and eight.

1418
01:12:38.880 --> 01:12:41.760
Yes, right, Because they always throw that nominal stat out there,

1419
01:12:41.760 --> 01:12:44.760
and it's like it grabs everybody's attention, But when you

1420
01:12:44.840 --> 01:12:46.880
really sit down and think about it, of course, it's

1421
01:12:46.920 --> 01:12:50.079
the highest it's ever been everything's more expensive, right.

1422
01:12:50.039 --> 01:12:52.560
It's just reviewing some of the things we did this week.

1423
01:12:53.239 --> 01:12:56.439
September has a bad reputation because it has been the

1424
01:12:56.479 --> 01:13:00.439
month that has closed lower than higher, more often than higher.

1425
01:13:00.840 --> 01:13:02.920
It's the only month that has closed lower and more

1426
01:13:02.920 --> 01:13:04.920
often than higher. It's the only month of the year

1427
01:13:04.960 --> 01:13:08.800
with an average return it's negative. Does that mean September

1428
01:13:08.840 --> 01:13:11.600
is going to be bad? Not necessarily. Twenty thirteen it

1429
01:13:11.680 --> 01:13:14.520
was one of the best months of the year. September

1430
01:13:14.560 --> 01:13:19.399
could be just fine. However, seasonality can become self fulfilling

1431
01:13:20.439 --> 01:13:22.560
because people pull in their horns and they're just a

1432
01:13:22.600 --> 01:13:25.319
little slow to buy. And the only thing I would

1433
01:13:25.359 --> 01:13:29.560
say is it's probably not a month to be aggressive.

1434
01:13:30.000 --> 01:13:32.520
If you've got some you want to take a flyer

1435
01:13:32.560 --> 01:13:35.840
on Nvidia, you might not want to do it in

1436
01:13:35.920 --> 01:13:41.920
September only because that's a I'm really going out on

1437
01:13:41.960 --> 01:13:45.159
a limb there. Because in Vidio the stock everybody loves, right,

1438
01:13:45.560 --> 01:13:47.840
But if the market is going to weaken and in

1439
01:13:47.960 --> 01:13:50.359
Vidia is probably going to come with it, right, and

1440
01:13:51.279 --> 01:13:54.399
we reduced our exposure to the S and P five

1441
01:13:54.479 --> 01:13:59.399
hundred by about nine percent, put that money in out

1442
01:13:59.399 --> 01:14:03.279
of harms way, and we'll be we'll be back with

1443
01:14:03.359 --> 01:14:05.479
that money in the next sixty days or so, but

1444
01:14:05.880 --> 01:14:10.119
just a short term cautionary thing that shows that we're

1445
01:14:10.119 --> 01:14:15.119
paying attention. I guess GLP one. Yeah, about GLP one

1446
01:14:15.159 --> 01:14:17.520
a little bit. Prices have been one of the major obstacles.

1447
01:14:18.119 --> 01:14:21.279
On Tuesday, lily rallied to a new all time high

1448
01:14:21.319 --> 01:14:24.119
after they announced that they're going to offer their popular

1449
01:14:24.199 --> 01:14:27.960
weight loss drug zip Bound for half price half price

1450
01:14:28.199 --> 01:14:30.239
half price. How do you get half price? Well, here's

1451
01:14:30.239 --> 01:14:32.199
how you get half price. You don't get the pen,

1452
01:14:32.399 --> 01:14:35.279
you don't get the ap a pen, you get a

1453
01:14:35.319 --> 01:14:38.039
syringe and a bottle. Good luck.

1454
01:14:38.960 --> 01:14:42.039
Seriously, Yeah, yep, that's how they cut their costs in half.

1455
01:14:42.119 --> 01:14:44.840
Yep. They're gonna they're going to go the route of

1456
01:14:44.880 --> 01:14:47.079
the compound pharmacies where they're just going to send you

1457
01:14:47.119 --> 01:14:48.960
a little bial of the stuff with a needle and

1458
01:14:49.000 --> 01:14:49.680
say good luck.

1459
01:14:50.079 --> 01:14:52.319
Well, I think that's a smart business half promise.

1460
01:14:53.600 --> 01:14:55.800
You know, there's there's an awful lot of people are

1461
01:14:55.800 --> 01:14:57.239
still going to do it. There's an awful lot of

1462
01:14:57.239 --> 01:15:00.720
people that really would like to lose weight, and this

1463
01:15:00.920 --> 01:15:04.840
is one of the easiest ways to lose weight there is, right,

1464
01:15:05.880 --> 01:15:10.279
So if you the primary thing standing between you and

1465
01:15:10.319 --> 01:15:13.880
that weight loss is money, and you've got a way

1466
01:15:13.920 --> 01:15:15.720
to do it for half price, You're probably going to

1467
01:15:15.760 --> 01:15:16.079
take that.

1468
01:15:16.159 --> 01:15:19.159
You know how much month supply worth of zupp bound

1469
01:15:19.239 --> 01:15:20.239
costs in the United States?

1470
01:15:20.359 --> 01:15:21.239
Twelve hundred dollars.

1471
01:15:21.439 --> 01:15:22.359
Yeah, I already told you.

1472
01:15:22.640 --> 01:15:25.640
I know, and I have a good memory, huh.

1473
01:15:25.640 --> 01:15:28.520
And in the UK two hundred dollars.

1474
01:15:28.600 --> 01:15:30.159
I think it was about one hundred and seventy two.

1475
01:15:30.079 --> 01:15:31.600
Dollars, you know something, twelve hundred dollars.

1476
01:15:31.600 --> 01:15:34.279
But when I asked you initially, what was your first

1477
01:15:34.439 --> 01:15:37.239
question or what your first answer was if you could

1478
01:15:37.279 --> 01:15:38.520
get your hands on it in the UK?

1479
01:15:39.039 --> 01:15:41.119
Right, that's the problem, I think, right, I think that's

1480
01:15:41.119 --> 01:15:43.880
the problem. I have friends in Europe, and I have

1481
01:15:43.960 --> 01:15:48.520
friends in Canada, where socialized medicine is pretty predominant, and

1482
01:15:48.600 --> 01:15:49.199
it's not good.

1483
01:15:49.560 --> 01:15:49.760
Yeah.

1484
01:15:49.800 --> 01:15:53.319
I also love when everyone's like outing year prices as

1485
01:15:53.319 --> 01:15:56.479
if you know, oh, they're so cheap, and it's this

1486
01:15:56.600 --> 01:15:59.600
and that. It's like, okay, first off, what are you

1487
01:15:59.640 --> 01:16:04.359
making right compared to an American? What taxes are you

1488
01:16:04.439 --> 01:16:05.159
parents waying?

1489
01:16:05.640 --> 01:16:05.760
Right?

1490
01:16:05.840 --> 01:16:08.600
Which is significantly higher because most of those countries are

1491
01:16:08.640 --> 01:16:11.720
pretty socialist compared to America. And then on top of

1492
01:16:11.720 --> 01:16:16.680
that where like what all these countries are in unions,

1493
01:16:16.720 --> 01:16:22.199
like the European Union, Like it's very in my opinion, corrupt.

1494
01:16:22.399 --> 01:16:25.720
UK tax brackets are just absolutely ridiculous, right well, I

1495
01:16:25.720 --> 01:16:26.680
mean their highest.

1496
01:16:26.640 --> 01:16:29.560
Well UK was high, Germany's really high. Yeah, you know,

1497
01:16:29.640 --> 01:16:33.359
Italy's high. I mean they they take a lot from

1498
01:16:33.399 --> 01:16:37.079
their citizens. And also like for example, like Japan is

1499
01:16:37.119 --> 01:16:39.159
another one where you're like, oh, they have super low

1500
01:16:39.199 --> 01:16:41.039
interest rates. You can get a mortgage for two percent

1501
01:16:41.039 --> 01:16:43.079
over there. That's not fair. And then you realize, well,

1502
01:16:43.159 --> 01:16:45.720
that's because they have no inflation. Your house will never

1503
01:16:45.760 --> 01:16:47.680
grow in value. Right, Yeah, you'll get a house, but

1504
01:16:47.720 --> 01:16:49.880
it's never going to make you anything, right, just you

1505
01:16:49.920 --> 01:16:52.760
know what I mean. So there is this like game

1506
01:16:52.840 --> 01:16:55.520
theory and economics that when you really play it out.

1507
01:16:55.399 --> 01:16:58.279
It's not as as you think it, like to the

1508
01:16:58.319 --> 01:17:00.920
socialized healthcare points. I was having to conversation with some

1509
01:17:01.039 --> 01:17:03.239
kid that used to play football out in Canada and

1510
01:17:03.239 --> 01:17:04.800
I think it was a senior year. You know, he

1511
01:17:04.880 --> 01:17:07.319
goes out and tears his acl the summer going into

1512
01:17:07.319 --> 01:17:12.239
that senior year and it's already you know, the season's

1513
01:17:12.239 --> 01:17:13.840
already started and he still has yet to get his

1514
01:17:13.960 --> 01:17:17.079
MRI because why because they scheduled it about nine months

1515
01:17:17.119 --> 01:17:21.039
out from first available the next first available for an

1516
01:17:21.159 --> 01:17:22.279
MRI on your knee.

1517
01:17:22.760 --> 01:17:24.760
You think it's hard to see a doctor here in Tucson,

1518
01:17:24.920 --> 01:17:27.880
try to get socialized medicine. Yeah, it's good. It's gonna

1519
01:17:27.920 --> 01:17:30.880
make this look like a cakewalk. And honestly, I think

1520
01:17:30.960 --> 01:17:32.960
Danz even mentioned this in his monologue. If you don't

1521
01:17:32.960 --> 01:17:36.840
know somebody or deal with the contier doctor, trying to

1522
01:17:36.840 --> 01:17:39.800
get in to see the doctor here in Tucson, Arizona,

1523
01:17:39.960 --> 01:17:41.279
it's really really hard.

1524
01:17:41.359 --> 01:17:43.279
And we also had this conversation earlier this week. I

1525
01:17:43.920 --> 01:17:47.159
had asked you, is this is this the trends that

1526
01:17:47.159 --> 01:17:49.359
we're seeing that we're going into that socialized healthcare?

1527
01:17:49.399 --> 01:17:51.399
And you said, no, right, I don't think so. I

1528
01:17:51.399 --> 01:17:53.880
think it's a combination of things. I think, number one,

1529
01:17:53.920 --> 01:17:56.119
there's a lot more people living here than there were

1530
01:17:56.399 --> 01:17:57.279
five years ago.

1531
01:17:57.159 --> 01:17:57.760
Here in Tucson.

1532
01:17:57.880 --> 01:17:58.359
Yeah, right.

1533
01:17:58.479 --> 01:18:01.960
Number two, many of the physicians here in town have retired.

1534
01:18:02.760 --> 01:18:04.520
But what I'm hearing when I talk to my doctor

1535
01:18:04.560 --> 01:18:07.399
friends is they're just overwhelmed with the number of patients,

1536
01:18:07.479 --> 01:18:10.399
which means more people, right. I went to my ear

1537
01:18:10.399 --> 01:18:13.000
nose and throw people. And I used to. I went

1538
01:18:13.039 --> 01:18:14.880
to them when they first started up their business. I

1539
01:18:14.880 --> 01:18:16.640
could get in the same week. I call Monday, I

1540
01:18:16.640 --> 01:18:19.399
get an appointment that week. And this passed. Last time,

1541
01:18:19.399 --> 01:18:21.359
it was six weeks. And when I got in there,

1542
01:18:21.359 --> 01:18:23.159
I said, what the heck's going on? He goes, we

1543
01:18:23.279 --> 01:18:24.479
just can't handle the workload.

1544
01:18:24.560 --> 01:18:27.359
But you also mentioned that people don't want to work.

1545
01:18:27.880 --> 01:18:31.279
There is that, right, There is that, And I think

1546
01:18:31.279 --> 01:18:35.079
that you know, especially as a physician, if you're if

1547
01:18:35.079 --> 01:18:36.880
you've got more work than you know what to do with,

1548
01:18:37.600 --> 01:18:41.439
you're probably doing okay financially right, right, And so the

1549
01:18:41.760 --> 01:18:44.199
way to get around that is just okay, now I'm

1550
01:18:44.239 --> 01:18:45.319
going to work four days a week.

1551
01:18:45.399 --> 01:18:48.039
Yeah, the incentive to keep working harder isn't quite there.

1552
01:18:48.119 --> 01:18:50.920
It's not there. You know, when you've got more business,

1553
01:18:51.760 --> 01:18:52.039
how do.

1554
01:18:52.000 --> 01:18:55.680
You do that? Well, you know, I don't know. I

1555
01:18:55.760 --> 01:18:58.199
think any business very expensive field to get into.

1556
01:18:58.279 --> 01:19:00.279
Yeah, any business where you have more people then you

1557
01:19:00.279 --> 01:19:02.760
can handle. What's the where's the incentive?

1558
01:19:02.800 --> 01:19:05.039
Well, the issue is getting them into the industry, right,

1559
01:19:05.119 --> 01:19:07.399
Getting new doctors. How do you get a new doctor?

1560
01:19:07.399 --> 01:19:09.199
They have to go through twelve years of school. Now

1561
01:19:09.319 --> 01:19:12.359
what does that do to their finances? For most of them,

1562
01:19:12.720 --> 01:19:14.520
they have to make such a big risk.

1563
01:19:15.079 --> 01:19:16.119
Oh, it's a huge risk.

1564
01:19:16.399 --> 01:19:19.399
I mean it's crazy. I would never do it even

1565
01:19:19.439 --> 01:19:22.479
if I was interested. You have to be so right.

1566
01:19:22.399 --> 01:19:25.039
After you evade the tuition for you know, the first

1567
01:19:25.079 --> 01:19:27.399
semester of doctor at school, and think you're paying about

1568
01:19:27.399 --> 01:19:31.000
forty five fifty thousand dollars for a year. I'm sorry,

1569
01:19:31.039 --> 01:19:31.760
not for the semester.

1570
01:19:31.960 --> 01:19:33.840
And if you if you're willing to pay two or

1571
01:19:33.880 --> 01:19:37.760
three thousand dollars a year to have a call to

1572
01:19:37.840 --> 01:19:41.039
your doctor, that's fantastic. You can get him whenever you want, right.

1573
01:19:41.319 --> 01:19:43.239
I mean they didn't get in the same day the

1574
01:19:43.319 --> 01:19:45.960
next day, but that's where they're going. It's applying to

1575
01:19:46.039 --> 01:19:48.399
man Vader, right, and those those that have not gone

1576
01:19:48.439 --> 01:19:51.920
contre Let's say your doctor decides to become a can

1577
01:19:52.000 --> 01:19:53.359
to your doctor and you the wait a second, I'm

1578
01:19:53.359 --> 01:19:55.439
not going to spend three thousand dollars to say you're

1579
01:19:55.479 --> 01:19:58.000
my doctor. I'm going to go over to this other doctor. Well,

1580
01:19:58.319 --> 01:20:02.439
the doctors that haven't become they are just overwhelmed with

1581
01:20:02.840 --> 01:20:06.199
this business. And I'm not trying to make am any

1582
01:20:06.279 --> 01:20:08.880
kind of commentary about con tier versus non coms here.

1583
01:20:09.119 --> 01:20:13.079
But the ones that are not contier are just overwhelmed.

1584
01:20:13.359 --> 01:20:16.119
And with my your nose and trope guy he says,

1585
01:20:16.199 --> 01:20:19.359
he said, we've we've hired two or three nurse practitioners,

1586
01:20:19.399 --> 01:20:21.079
and he said, I'm trying to hire more. I can't

1587
01:20:21.119 --> 01:20:24.640
find them. And I thought, well, that's because my wife's

1588
01:20:24.640 --> 01:20:26.479
doctor hired three of them. So she only has to

1589
01:20:26.520 --> 01:20:29.159
work one day a week. That's what she does. She

1590
01:20:29.239 --> 01:20:32.000
comes in tuesdays, that's where she works. Wow. You know,

1591
01:20:32.039 --> 01:20:35.439
because the nurse practitioners are you got the registered running

1592
01:20:35.479 --> 01:20:39.359
all the time, no matter what she's doing. Well.

1593
01:20:39.399 --> 01:20:43.319
The the ETF that has gone very unnoticed in this

1594
01:20:43.479 --> 01:20:48.560
rally is kri I the insurance ETF all time highs.

1595
01:20:49.239 --> 01:20:52.760
It's up I think like twenty five percent year today.

1596
01:20:52.920 --> 01:20:56.479
Go figure, My home insurance policy went up, which.

1597
01:20:56.319 --> 01:21:00.680
Is like hindsight twenty twenty. Me and you Dave, we're idiots.

1598
01:21:01.439 --> 01:21:03.800
We were talking about insurance all last year, how we

1599
01:21:03.760 --> 01:21:06.960
were the top inflation abolutely and we didn't think we

1600
01:21:07.000 --> 01:21:08.359
should buy insurance companies.

1601
01:21:08.439 --> 01:21:09.000
We didn't do an thing.

1602
01:21:09.039 --> 01:21:11.119
I don't know, yeah, I don't know what we were thinking.

1603
01:21:11.159 --> 01:21:13.800
We weren't thinking about that, but now hindes that twenty twenty,

1604
01:21:13.800 --> 01:21:16.680
it made perfect sense. Inflation all last year the highest

1605
01:21:16.680 --> 01:21:19.319
one was insurance. This year they're at all time highest

1606
01:21:19.359 --> 01:21:20.520
the insurance CTFF.

1607
01:21:20.600 --> 01:21:23.399
That'd be a life lesson when you're focusing on complaining.

1608
01:21:23.880 --> 01:21:27.279
Yeah, see the opportunity not the complain.

1609
01:21:26.920 --> 01:21:31.399
And the opportunity is going by outside and you're complaining. Yeah,

1610
01:21:31.439 --> 01:21:32.800
you're absolutely right that that makes me.

1611
01:21:33.439 --> 01:21:35.359
It makes me so upset because I've been sitting here

1612
01:21:35.359 --> 01:21:39.119
complaining about like mouthwash and body wash.

1613
01:21:39.079 --> 01:21:40.840
And that it could have been by Colgate.

1614
01:21:40.880 --> 01:21:41.960
I should have bought Colgate.

1615
01:21:42.319 --> 01:21:43.359
I should have bought Colgate.

1616
01:21:43.399 --> 01:21:45.920
That things up like what this year.

1617
01:21:47.840 --> 01:21:50.680
It is? It is? That's the old Peter Lynch. You

1618
01:21:50.720 --> 01:21:53.119
guys don't do you know who Peter is? Magellan, uh

1619
01:21:53.479 --> 01:21:56.079
Fidelity Magellan, he ran Fidelity of Magellan for years, was

1620
01:21:56.239 --> 01:21:59.560
outstanding money manager. And what he said was someone asking

1621
01:21:59.760 --> 01:22:01.640
one time, I'm about how he invests. He said, I

1622
01:22:01.640 --> 01:22:04.079
buy things. I know, you know, things I use. I

1623
01:22:04.479 --> 01:22:07.560
remember the one that they used to have these pantyhose

1624
01:22:07.600 --> 01:22:09.600
that was in an egg container. I think they were

1625
01:22:09.600 --> 01:22:11.720
called I don't even know what they were called. Legs

1626
01:22:11.840 --> 01:22:14.880
or something. But the pantyhose came in a little container

1627
01:22:14.880 --> 01:22:17.640
that looked like an egg, and he said, I saw

1628
01:22:17.680 --> 01:22:19.560
those in the store. My wife was buying him and

1629
01:22:19.560 --> 01:22:21.319
my daughter was buying him, and he goes, I'm going

1630
01:22:21.359 --> 01:22:23.000
to have that company. So he went and bought that

1631
01:22:23.039 --> 01:22:25.520
company and just went nuts. That's the kind of stuff

1632
01:22:25.560 --> 01:22:30.399
that he did. I remember back when Krispy Kreme was

1633
01:22:30.399 --> 01:22:33.439
all the rage, right, and Christopher Kreme stock was going crazy.

1634
01:22:33.840 --> 01:22:36.319
One night, I'm on the way home and I stopped Walgreens,

1635
01:22:36.479 --> 01:22:40.279
you know, and there they are. There's the Krispy Kreme

1636
01:22:40.319 --> 01:22:43.560
donuts on the rack. And Walgreens went back to the

1637
01:22:43.560 --> 01:22:45.840
option next morning said sell all the Christy cream stock.

1638
01:22:45.840 --> 01:22:50.720
There's scarcity factors gone, the special factors gone, and we

1639
01:22:50.760 --> 01:22:53.079
got out. Of course, the company ultimately went bankrupt and

1640
01:22:53.239 --> 01:22:56.399
public and went bankrupt again. Now it's public again.

1641
01:22:56.640 --> 01:22:59.479
So now they're being entered into McDonald's. Coldgate was up

1642
01:22:59.479 --> 01:23:01.000
thirty two sent this year about.

1643
01:23:00.840 --> 01:23:04.119
Thirty Colgate Colgate thirty two per face. Well, I would

1644
01:23:04.159 --> 01:23:06.800
have never guessed that, yeah, because that that is a

1645
01:23:06.840 --> 01:23:09.000
defensive stock. When you buy when things are kind of

1646
01:23:09.079 --> 01:23:12.760
nasty out there and and you want to make sure that. Wow,

1647
01:23:12.880 --> 01:23:16.560
that's amazing. Costco speaking of defensive multiple new all time

1648
01:23:16.600 --> 01:23:19.279
highs last week, traded above nine hundred bucks for the

1649
01:23:19.319 --> 01:23:22.600
first time ever. Did you see their new Okinawa Japan

1650
01:23:22.760 --> 01:23:26.000
store opened? Thousands of people waiting in the line from

1651
01:23:26.039 --> 01:23:29.479
the five hours. Now, that's their thirty fifth store in Japan.

1652
01:23:29.920 --> 01:23:32.600
Thirty not their first one. Wow, it's their thirty fifth

1653
01:23:32.600 --> 01:23:36.520
store in Japan, but it's it is the first one

1654
01:23:36.520 --> 01:23:41.199
on Okinawa, on the island of Okinawa. The stocka rallied

1655
01:23:41.199 --> 01:23:43.039
above nine hundred sold off a little bit at the

1656
01:23:43.119 --> 01:23:44.840
end of the week, but boy has that been on

1657
01:23:44.880 --> 01:23:46.199
a tear Costco.

1658
01:23:46.319 --> 01:23:49.760
Costco stock is and this weekend college football starting up.

1659
01:23:49.800 --> 01:23:53.920
You get the draft kings, the potentially flutter yep, some

1660
01:23:53.960 --> 01:23:56.039
of those companies might see a bit over the next quarter.

1661
01:23:56.079 --> 01:23:57.960
I watched a little college football Thursday night.

1662
01:23:58.199 --> 01:23:58.840
Get excited.

1663
01:23:58.880 --> 01:24:01.279
It was pretty pretty cool, pretty cool to have it back.

1664
01:24:01.319 --> 01:24:04.119
And football is back and we're all excited about that.

1665
01:24:04.439 --> 01:24:06.800
So we'll be back after this break with the final

1666
01:24:07.119 --> 01:24:09.680
segment of the Money Matter Show. Once again, Happy Laborty

1667
01:24:09.720 --> 01:24:12.600
the weekend. Hope you're enjoying it. We'll talk to you soon.

1668
01:24:17.159 --> 01:24:19.840
Welcome back. This is the Money Matter Show right smack

1669
01:24:19.920 --> 01:24:22.760
in the middle of Labor Day weekend. Hope you're enjoying yourself.

1670
01:24:22.800 --> 01:24:25.319
Hope you have some fun plans. Hope you enjoyed the

1671
01:24:25.399 --> 01:24:28.279
day off tomorrow and our first day of three day

1672
01:24:28.319 --> 01:24:30.800
weekends since the fourth of July. It's about time, guys,

1673
01:24:31.279 --> 01:24:32.960
by time we had all three day weekend here.

1674
01:24:33.119 --> 01:24:35.680
Yeah, and just for everyone tuneing in, just know that

1675
01:24:35.720 --> 01:24:38.840
you can listen to all of our shows that are

1676
01:24:38.920 --> 01:24:41.800
recorded on our podcast platforms, all your favorite ones. You

1677
01:24:41.840 --> 01:24:44.720
can find it by going to our website Queenberg Finance

1678
01:24:44.840 --> 01:24:47.199
dot com and checking that out in the top right

1679
01:24:47.199 --> 01:24:50.119
hand corner. You also see our YouTube page where we

1680
01:24:50.560 --> 01:24:53.119
put our TV shows that we put on the air.

1681
01:24:53.119 --> 01:24:56.720
Those TV shows are aired every Sunday in the morning

1682
01:24:56.760 --> 01:25:00.840
and at night on NBC sometimes gets on PE depending

1683
01:25:00.840 --> 01:25:04.479
on show times. But we also have all those shows

1684
01:25:04.520 --> 01:25:06.520
also on our YouTube page if you want to go

1685
01:25:06.560 --> 01:25:09.079
back and listen. We got the weekly market recaps on

1686
01:25:09.119 --> 01:25:12.199
YouTube and a lot of good information. Our newsletter is

1687
01:25:12.239 --> 01:25:14.000
coming out in a couple of days, so if you

1688
01:25:14.039 --> 01:25:15.560
want to subscribe to that, you can go to our

1689
01:25:15.560 --> 01:25:18.159
website Greenberg Financial dot com at the bottom of the page,

1690
01:25:18.159 --> 01:25:20.520
you'll see where you can sign up for that newsletter.

1691
01:25:20.800 --> 01:25:22.279
And of course, if you want to take advantage of

1692
01:25:22.319 --> 01:25:24.640
our free financial planning, all you have to do is

1693
01:25:24.680 --> 01:25:26.720
give us a call five two zero five four four

1694
01:25:26.840 --> 01:25:28.520
four nine zero nine. We'll set up a time on

1695
01:25:28.560 --> 01:25:30.640
the calendar, send you a quick email with some of

1696
01:25:30.680 --> 01:25:32.439
the stuff we'll like you to gather, and then you

1697
01:25:32.479 --> 01:25:34.840
come in, we create your financial plan, give it to you.

1698
01:25:34.960 --> 01:25:37.720
Then when you come back after completing your risk tolerance score,

1699
01:25:38.079 --> 01:25:40.560
we'll create a whole proposal for you with action steps

1700
01:25:40.560 --> 01:25:44.920
and recommendations based on your initial objectives and goals, as

1701
01:25:44.920 --> 01:25:48.039
well as your risk tolerance and how your portfolios current allocated,

1702
01:25:48.079 --> 01:25:50.520
how we would change things if you were to move over,

1703
01:25:50.760 --> 01:25:52.560
and so if you want to take advantage of that, again,

1704
01:25:52.680 --> 01:25:53.760
just give us a call, and.

1705
01:25:53.720 --> 01:25:56.079
We're willing to do this free in the hope that

1706
01:25:56.159 --> 01:25:58.319
you'll like us and decide to become a client. And

1707
01:25:58.359 --> 01:26:00.760
if you don't, you don't not going to chase you

1708
01:26:00.800 --> 01:26:04.720
around and call you every week and tell you finally succumb.

1709
01:26:05.520 --> 01:26:08.159
We're going to do this for you as a service

1710
01:26:08.159 --> 01:26:11.680
from Greenberg Financial, and we think you'll be impressed enough

1711
01:26:11.680 --> 01:26:14.079
with it that you'll want to do business with us again.

1712
01:26:14.119 --> 01:26:15.720
If you don't, you don't, Yeah, I.

1713
01:26:15.680 --> 01:26:19.079
Mean, I know one person was wondering whether Roth conversions

1714
01:26:19.119 --> 01:26:22.399
makes sense or not, and running the plan, even with

1715
01:26:22.520 --> 01:26:24.680
him pretting pretty old, we were able to look at

1716
01:26:24.720 --> 01:26:27.640
a plan two different strategies, saving up to two hundred

1717
01:26:27.640 --> 01:26:30.359
and forty potentially up to four hundred K. It always

1718
01:26:30.399 --> 01:26:32.880
always depends on how much the market grows after you

1719
01:26:32.880 --> 01:26:37.640
do the Roth conversion, so that's always hypothetical. But you know,

1720
01:26:37.720 --> 01:26:41.239
we are historically low tax rates right now. People don't

1721
01:26:41.439 --> 01:26:43.920
necessarily it's not the first thing that jumps into their mind,

1722
01:26:43.960 --> 01:26:47.119
but we were at ninety three percent as a top

1723
01:26:47.159 --> 01:26:50.600
federal tax bracket at one time. I remember you do

1724
01:26:50.600 --> 01:26:56.000
do wow, and then seventy one percent then and then

1725
01:26:56.000 --> 01:26:57.520
I think Reagan cut it to fifty three.

1726
01:26:58.439 --> 01:26:59.439
That was a huge.

1727
01:26:59.159 --> 01:27:01.000
Cut, have to be successful.

1728
01:27:01.239 --> 01:27:03.159
And then then it was cut from fifty three to

1729
01:27:03.239 --> 01:27:06.279
thirty seven and then stayed at thirty seven now as

1730
01:27:06.279 --> 01:27:10.479
the top rates. So again we are historically low tax rates.

1731
01:27:10.479 --> 01:27:14.399
And so with a historically high, all time high deficit,

1732
01:27:14.760 --> 01:27:17.119
not on nominal levels, you can inflate, you can adjust

1733
01:27:17.159 --> 01:27:19.640
that for inflation we're at all time ice still right.

1734
01:27:20.319 --> 01:27:22.800
Our debt as a country is concerning, and at a

1735
01:27:22.880 --> 01:27:24.880
certain point we'll have to find a way to repay this.

1736
01:27:25.119 --> 01:27:28.640
Is it through Trump's plan of through tariffs potentially, but

1737
01:27:28.680 --> 01:27:31.840
most likely at some point red or Blue, a president's

1738
01:27:31.840 --> 01:27:33.520
going to have to raise taxes to pay for this,

1739
01:27:33.920 --> 01:27:36.159
maybe not in the next presidency, but certainly in the

1740
01:27:36.199 --> 01:27:39.680
next twenty years. And so doesn't pay taxes now make

1741
01:27:39.760 --> 01:27:42.760
more sense when you're required to pay them later potentially,

1742
01:27:42.920 --> 01:27:44.840
And that's again the only way to know if that

1743
01:27:44.920 --> 01:27:46.960
makes sense for you is to come in and do

1744
01:27:47.000 --> 01:27:49.000
a financial plan. We can run a couple of what

1745
01:27:49.079 --> 01:27:51.479
if scenarios. We can work with the CPA, get you

1746
01:27:51.560 --> 01:27:54.000
up to the max of your tax bracket that you

1747
01:27:54.079 --> 01:27:56.560
feel comfortable with, that you're willing to pay, as well

1748
01:27:56.600 --> 01:27:59.000
as looking at medicare brackets to make sure it's not

1749
01:27:59.000 --> 01:28:01.039
going to impact you on the medi care side, and

1750
01:28:01.079 --> 01:28:03.319
really look at it holistically to see if it's the

1751
01:28:03.319 --> 01:28:04.079
best bet for you.

1752
01:28:04.359 --> 01:28:06.840
Yeah, and then of course the ideal scenario is you

1753
01:28:06.880 --> 01:28:10.479
stop spending and you decrease spending to get the budget

1754
01:28:10.520 --> 01:28:13.520
in balance. You would with interest rates where they are now,

1755
01:28:13.560 --> 01:28:16.039
though adding a trillion dollars worth of interest every year.

1756
01:28:16.560 --> 01:28:20.439
You'd have to cut services by about a third, about

1757
01:28:20.479 --> 01:28:23.439
one third to get to where you're just balancing the budget,

1758
01:28:23.520 --> 01:28:26.640
not paying down any just not growing it anymore. So

1759
01:28:26.680 --> 01:28:32.279
it's becoming it's becoming a big problem and where leads

1760
01:28:33.119 --> 01:28:34.239
will have to see and I.

1761
01:28:34.199 --> 01:28:36.159
Want to, you know, bring up something. I saw a

1762
01:28:36.159 --> 01:28:38.600
lot of people heard this a couple of times with

1763
01:28:38.640 --> 01:28:42.119
people coming in about the Kamala Harris unrealized gains tax

1764
01:28:42.319 --> 01:28:43.960
that she said that she's going to do, and the

1765
01:28:44.399 --> 01:28:47.319
it really came off Biden's proposal, but Kamala said that

1766
01:28:47.359 --> 01:28:53.279
she sit up not promotes it, but I guess promotes it. Yeah,

1767
01:28:53.239 --> 01:28:57.119
that's the work, Yeah, she said in that proposal, if

1768
01:28:57.159 --> 01:28:59.520
you really dig into what it says you, you'd have

1769
01:28:59.560 --> 01:29:01.520
to have a worth of more than one hundred million

1770
01:29:01.560 --> 01:29:04.520
dollars to be subject to this new unrealized gains tax.

1771
01:29:05.119 --> 01:29:08.680
And there's only eleven thousand families in the country that

1772
01:29:08.800 --> 01:29:11.159
have more than one hundred million dollars net worth. I'm

1773
01:29:11.159 --> 01:29:14.000
not saying it's right, but what I am saying is

1774
01:29:14.119 --> 01:29:17.079
it's it's not going to impact ninety nine point nine

1775
01:29:17.119 --> 01:29:18.159
percent of the people in the country.

1776
01:29:18.199 --> 01:29:20.199
No, it's just it's I think it really is just

1777
01:29:20.239 --> 01:29:22.279
pying the sky stuff because it is one of those

1778
01:29:22.279 --> 01:29:23.960
things that would be impossible.

1779
01:29:23.560 --> 01:29:25.399
It would never even get passed. But even if it

1780
01:29:25.439 --> 01:29:28.800
did again, it's not going to impact any of probably

1781
01:29:28.800 --> 01:29:31.479
anyone listening to the show, right, So.

1782
01:29:31.399 --> 01:29:34.039
It's just a boone for the Democratic Party to throw

1783
01:29:34.079 --> 01:29:35.920
out there for the people that want to eat the rich.

1784
01:29:36.279 --> 01:29:38.720
That's just what they do. For example, California that you

1785
01:29:38.760 --> 01:29:41.199
saw a big headline out this week that said, hey,

1786
01:29:41.239 --> 01:29:43.560
we're going to give immigrants one hundred and fifty thousand

1787
01:29:43.600 --> 01:29:46.479
dollars to buy a home, and a lot of people

1788
01:29:46.479 --> 01:29:49.000
are like, this is crazy. If you dig into it,

1789
01:29:49.000 --> 01:29:52.239
it's already been a program established in California for current

1790
01:29:52.279 --> 01:29:55.000
California residents. And what you have to be a first

1791
01:29:55.000 --> 01:29:58.079
time home generation buyer in your entire family. No one

1792
01:29:58.079 --> 01:29:59.399
can ever have had a home first.

1793
01:29:59.479 --> 01:29:59.640
Right.

1794
01:30:00.079 --> 01:30:01.600
Then you have to have a high credit score.

1795
01:30:01.600 --> 01:30:04.279
You have to have over six eighty five credit score, six.

1796
01:30:04.239 --> 01:30:06.359
Eighty five credit score, You have one hundred and twenty

1797
01:30:06.399 --> 01:30:10.279
times the average, not one point two x the average,

1798
01:30:10.319 --> 01:30:12.239
media and income, so you have to hit all these

1799
01:30:12.319 --> 01:30:12.960
metrics right on.

1800
01:30:13.039 --> 01:30:13.399
Top of it.

1801
01:30:13.399 --> 01:30:15.840
People were pissed off or mad I'm sorry, Matt, about

1802
01:30:15.880 --> 01:30:18.399
the fact that they're getting interest free loans out of this,

1803
01:30:18.520 --> 01:30:20.520
up to one hundred and fifty thousand dollars of interest

1804
01:30:20.520 --> 01:30:22.880
free loans. Well, what they're not telling you, or you're

1805
01:30:22.880 --> 01:30:25.359
not reading into, is that you're going to have to

1806
01:30:25.359 --> 01:30:27.039
pay up for that when you sell the house.

1807
01:30:27.479 --> 01:30:31.119
Right, Yeah, California will have own a portion of your

1808
01:30:31.199 --> 01:30:34.399
gain and that's kind of the interest quote unquote. But again,

1809
01:30:34.560 --> 01:30:38.399
eighteen thousand people qualified for this program last year in California,

1810
01:30:38.600 --> 01:30:43.439
seventeen hundred were selected. Think about that, California, the biggest

1811
01:30:43.520 --> 01:30:48.279
population probably state, right, eighteen thousand of them were eligible

1812
01:30:48.319 --> 01:30:51.199
for this program. Only seventeen hundred were selected. So when

1813
01:30:51.239 --> 01:30:52.880
you make it seem like this is going to go

1814
01:30:52.920 --> 01:30:56.720
to all the illegal immigrants, it's not. Again, on this program,

1815
01:30:56.720 --> 01:30:58.840
it says the illegal immigrant, if they want to apply

1816
01:30:58.920 --> 01:31:01.279
for this program, have to have a Social Security number

1817
01:31:01.359 --> 01:31:04.039
or a EI N. So how they get you know,

1818
01:31:04.399 --> 01:31:07.640
it's more of just that if you are potentially an

1819
01:31:07.640 --> 01:31:10.920
immigrant or potentially someone who's illegally voting, and you see

1820
01:31:10.920 --> 01:31:14.000
that headline, maybe you do vote blue right, or maybe

1821
01:31:14.479 --> 01:31:18.079
if you are someone who who just don't read into things.

1822
01:31:18.079 --> 01:31:20.479
And you see the headline and you believe some way

1823
01:31:20.520 --> 01:31:23.520
that somehow immigrant should get that, then yeah, then maybe

1824
01:31:23.840 --> 01:31:26.000
you vote blue that way. But again, if you dig

1825
01:31:26.039 --> 01:31:29.640
into this stuff, it's headlines. Like this whole political season,

1826
01:31:29.680 --> 01:31:32.439
all you're gonna see is headline after headline. You really

1827
01:31:32.520 --> 01:31:35.720
need to dig into something between what you're reading.

1828
01:31:35.840 --> 01:31:37.680
You and I were talking about this during the week,

1829
01:31:37.760 --> 01:31:41.680
the don't believe anything any headline. Don't believe any headline.

1830
01:31:41.840 --> 01:31:45.000
Somebody says, you know, this guy's green. Google it see

1831
01:31:45.000 --> 01:31:46.760
if this guy really is green, or if so and

1832
01:31:46.800 --> 01:31:50.119
so said this, check it out, see if they really said.

1833
01:31:49.880 --> 01:31:55.640
That from multiple sources to yeah, because it's CNN, right

1834
01:31:55.760 --> 01:31:58.359
and sure CEEINGN maybe one time was a reputable source,

1835
01:31:58.840 --> 01:32:01.600
but you can't trust anyone now. No, you have to

1836
01:32:01.640 --> 01:32:03.720
have it on probably three or four different sources for

1837
01:32:03.760 --> 01:32:06.640
you to really kind of say, okay, this might be real, right,

1838
01:32:06.800 --> 01:32:09.039
and even then you don't know. You really have to

1839
01:32:09.039 --> 01:32:11.399
dig between the lines, especially with all this AI stuff. Now,

1840
01:32:11.560 --> 01:32:13.359
I know we have the scam guy, but they're able

1841
01:32:13.399 --> 01:32:16.039
to create all these videos of people saying things they

1842
01:32:16.079 --> 01:32:18.399
never said. I mean, they had the one thing of Rogan,

1843
01:32:18.600 --> 01:32:22.520
Joe Rogan promoting Kamala Harris, and it was not even

1844
01:32:22.560 --> 01:32:25.680
him promoting her. It was him talking about Tulci Gabbard,

1845
01:32:25.960 --> 01:32:29.880
which he does like, and then him talking smack about Kamala.

1846
01:32:29.960 --> 01:32:31.840
But he took that out. They matched it together and

1847
01:32:32.319 --> 01:32:35.960
it made it look like he was talking good abou Kamala.

1848
01:32:36.279 --> 01:32:38.640
And he's a very influential person obviously.

1849
01:32:38.319 --> 01:32:40.520
Especially was sixty days left to go and tell the election.

1850
01:32:40.640 --> 01:32:42.840
Things are going to get crazy, right, people are going

1851
01:32:42.920 --> 01:32:45.880
to get desperate on both sides. There'd be a lot

1852
01:32:45.960 --> 01:32:47.840
of things said that are not true. There's gonna be

1853
01:32:47.840 --> 01:32:49.840
a lot of things said that are just buying the sky,

1854
01:32:50.600 --> 01:32:55.119
a lot of trial balloons floated, check your sources. Just

1855
01:32:55.399 --> 01:32:58.680
don't believe anything, Like Todd said, don't believe anything you're

1856
01:32:58.680 --> 01:33:01.640
speaking of, not believing any thing. We talk a lot

1857
01:33:01.640 --> 01:33:04.640
about range on EV batteries. I saw an interesting article

1858
01:33:04.720 --> 01:33:08.000
last week that EV batteries have improved by six to

1859
01:33:08.079 --> 01:33:11.399
seven percent per year for the last ten years. So

1860
01:33:11.439 --> 01:33:15.039
it struck me that five years from now you should

1861
01:33:15.119 --> 01:33:17.840
be able to get the range that they're advertising now.

1862
01:33:19.560 --> 01:33:22.199
Right, five years yeah, yeah.

1863
01:33:22.119 --> 01:33:23.840
If they think of that figure, if it goes with

1864
01:33:23.920 --> 01:33:25.680
six percent a year, and five years you'll get thirty

1865
01:33:25.680 --> 01:33:28.039
percent more battery of life. I push about where it's

1866
01:33:28.039 --> 01:33:31.199
supposed to be, about what they're being advertised now, right,

1867
01:33:31.640 --> 01:33:35.520
they're advertising three thirty I'm getting two forty thirty percent more.

1868
01:33:35.560 --> 01:33:39.880
I'm there, go stand by. Vulcan Materials has a good

1869
01:33:39.920 --> 01:33:42.920
operation here in Tucson. A couple of clients or employees

1870
01:33:42.920 --> 01:33:46.920
are THEIRS. It's the largest producer of construction material in

1871
01:33:46.960 --> 01:33:50.439
the country. They dropped five percent on Tuesday after a

1872
01:33:50.479 --> 01:33:54.960
disappointing quarterly results that included disappointing guidance. That's kind of

1873
01:33:55.000 --> 01:33:57.479
interesting because they were also going to be one of

1874
01:33:57.479 --> 01:34:02.319
the beneficiaries of this massive amount of infrastructure money that

1875
01:34:02.439 --> 01:34:05.560
was going to come flooding into the economy. Are we

1876
01:34:05.640 --> 01:34:09.000
seeing that anywhere? I mean, I don't know what's going

1877
01:34:09.039 --> 01:34:12.760
on there. I don't know Buddy Jik is getting it

1878
01:34:12.800 --> 01:34:15.079
out there or you know. I think one of the

1879
01:34:15.119 --> 01:34:19.119
biggest things we've determined about the Biden administration is they're

1880
01:34:19.199 --> 01:34:22.880
just not real good at administering things. Yeah, you know,

1881
01:34:22.920 --> 01:34:26.159
we got got that thing passed trillion dollars, right, and

1882
01:34:26.199 --> 01:34:28.279
I don't see the money flowing I don't see new

1883
01:34:28.279 --> 01:34:31.800
bridges being built. I don't see construction. Although we did

1884
01:34:31.800 --> 01:34:34.319
finally get approval for the widening of I can.

1885
01:34:37.239 --> 01:34:40.199
There are some projects being created, and it takes a

1886
01:34:40.239 --> 01:34:42.960
long time for these things. Again, That's why when some

1887
01:34:43.039 --> 01:34:46.039
presidents saying they're going to do some fiscal package, it's

1888
01:34:46.039 --> 01:34:48.399
not going to impact things for like two or three years.

1889
01:34:49.199 --> 01:34:51.199
What I should have done five years ago is bought

1890
01:34:51.239 --> 01:34:55.159
anything in San Diego. Yes, seventy two percent increase in

1891
01:34:55.159 --> 01:34:59.840
the last five years two percent? How could you help

1892
01:34:59.880 --> 01:35:00.479
me that time?

1893
01:35:00.640 --> 01:35:02.000
Well, because it just makes sense.

1894
01:35:02.199 --> 01:35:06.560
But so how about today? What should I do today today?

1895
01:35:06.760 --> 01:35:09.119
Because I'm writing this down. Yeah, well, if.

1896
01:35:09.039 --> 01:35:10.600
You can, I'd buy a home at Scotts Stille.

1897
01:35:10.640 --> 01:35:12.640
I'm still living five years. We're going to visit ref by.

1898
01:35:12.640 --> 01:35:16.079
Home at scott Still you'll be happy, you know. Speaking

1899
01:35:16.119 --> 01:35:19.840
of money flowing, the money market is at all time

1900
01:35:19.920 --> 01:35:23.319
high six point two trillion dollars. Sounds great and all right,

1901
01:35:23.359 --> 01:35:25.560
money market's all time high. A lot of cash on

1902
01:35:25.600 --> 01:35:29.000
the sidelines. But in fact, if all that money was

1903
01:35:29.039 --> 01:35:31.840
to somehow go into the markets like that, it would

1904
01:35:31.840 --> 01:35:33.439
only increase the market cap at the s and P

1905
01:35:33.520 --> 01:35:34.880
five hundred thirteen percent.

1906
01:35:35.840 --> 01:35:37.159
Okay, I'll take it.

1907
01:35:37.439 --> 01:35:40.960
Yeah, no, I would take it too. That's six trillion dollar.

1908
01:35:41.000 --> 01:35:43.039
That's all the cash basically in the world in money market.

1909
01:35:43.079 --> 01:35:44.760
That's amazing. Well, we're coming to the end of the

1910
01:35:44.760 --> 01:35:46.479
show again. We thank you for taking part of your

1911
01:35:46.560 --> 01:35:49.840
labor Day weekend to listen to us. We wouldn't do

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the show if we're for you, so thank you for

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being there. We all want to be happy, and of

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course we want to be healthy because if we're not healthy,

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we're probably not happy. But the Greenberg Financial what we're

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trying to be is not at all. See you next week.

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