Transcript
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Good morning everybody. It's that time
again, Sunday morning, eight o'clock right
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here on seven ninety k S TEA. It is the Money Matter Show with
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Dean Greenberg. We'll be here for
two hours to bring you information about the
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markets. Make it a new high, pulling off? What do we expect?
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The one thing I'm going to tell
you use this pull back and then
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probably a few more days maybe or
wherever it is over the next couple of
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weeks to be a buyer. I'd
still believe the market is going to go
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through fifty five hundred and get to
fifty six hundred plus at some time,
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probably before the end of August.
Maybe. If not, then then by
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the end of the year. I
will be pulling back if we do that
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by the time we get to the
end of August, because I do think
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September October is kind of going to
be a little bit wishy washy, and
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it's going to be getting ready for
the election. And as you know,
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we've been talking in a long time
about this election about how different it will
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be depending on who gets in,
and it really comes down to regulations,
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taxes, immigrants, that's what we're
gonna see. That's gonna be different.
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So for the week, the Dow
was up one and a half percent,
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the S and P was up a
half a percent, the NAZAK was unchanged,
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and the equal weighted SMP for the
first time outdd the S and P
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five hundred and it was up one
point one percent for the month. Well,
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let's go year to date. Year
to day, Dow's up almost four
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percent, s and P's up fourteen
and a half, Daazac's up seventeen.
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The rest of two thousand is still
down zero point two percent, and they
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and they equal weighted smps up five
percent. So you heard a lot this
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week of okay, it's that these
tech stocks have gotten overdone where they're going
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to go, and they had a
little bit of a pullback. It was
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a little bit of a reversal there
on Thursday. They all rallied in the
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morning, got some profit taking,
fell down a little bit. Will they
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come back? I believe they will. Doesn't mean there's no risk. We
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talk about taking some money off the
table all the time when the position gets
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so big. Isn't the video another
apple where you don't really trade it,
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you just hold it because where's it
going to be in two years from now.
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I don't know. I know this. If it's taking up fifteen,
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twenty, twenty five thirty percent of
the portfolio, now you probably need to
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cut back. And that doesn't mean
you sell the whole thing. Take off
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ten percent. If you up thirty
percent, bring it back to whatever you're
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comfortable with. I don't like having
any real position more than ten percent,
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probably more like five percent when i'm
allocating. But sometimes you know, if
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you get to ten percent, it's
because of a company like Navidia that just
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has the product and it's a it's
wanting to generation type deal here where it
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can zoom so fast and still have
the reason for doing because the evaluations are
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low. But we're getting up to
where the valuations are gonna start making the
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stock trade back and forth for a
while until they could keep proving themselves that
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they can come out and show better
earnings. But the rest of them too.
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Broadcom got hit, AMD got hit. They've all basically got hit.
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But that doesn't mean they're not coming
back. It doesn't mean that no one's
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buying it. It's the same people
buying it last week when the stock was
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going up. It's the same people
this week. Buying it as a stock
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is going down, the earnings will
be there for a while and then it's
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like what happens after that? But
just be prudent, you know, everything
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just doesn't go straight up. You
remember Cisco, it was the darling.
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It was never gonna come down because
everyone needed Cisco equipment. Everybody needed it.
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Why did they need it? They
needed it because it was what was
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making the internet. Well, we
still have a Cisco equipment, but it's
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become a commodity. Cisco does great, but they haven't been able to really
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increase their their prices to the point
that they're a growth company anymore. They're
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just a steady company making a lot
of money and that reflects in the stock,
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and the stock doesn't go up that
much. IBM used to be the
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dolling of Wall Street. It's almost
it's so hard for IBM to move.
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But you still have these tech companies, which are Apple, which are Microsoft,
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which is Google, Amazon obviously in
the video, and they're all part
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of that AI tech world. Now
does everything get ahead of itself at times?
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Yes? Do I think this first
pullback is not going to be bought?
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No, I do think it'll be
brought But I could be wrong.
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That's why you take money off the
table. You reduce your position a little
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bit if it's too much of your
portfolio. The overall more I do think,
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and I said this before, that
for some reason, this week of
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June you get just like that's when
the pullback starts, like on June twentieth.
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History like repeats itself over and over
again. It seems like, but
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next week we walk into the end
of the quarter, and money managers like
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to window dress, buy stocks,
increase their positions, get rid of the
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ones they don't like, increase the
ones that they like. So on the
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report they show that they have a
great portfolio and they want the markets to
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go up. They don't want to
sell it off because guess what, fees
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are taken out at the end of
June. Bonuses are given to these money
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managers at the end of June,
hedge funds, all of them, they
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get big bonuses and at the end
of the quarters. So that's why a
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lot of times you see at the
end of the quarters the market's rallying.
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If they're not rallying, they're going
down. They knock it down real hard,
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so that way the next quarter they
have a much better way of getting
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it back. So economically, we
didn't have a lot of news this week,
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but we did have retail set and
they were down again. And then
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they and they and they ones that
uh they redid from the month before,
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they were down even bigger. So
what is that telling us. That's telling
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us the consumer is running out of
money. They're running out of money.
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They're holding back, the pulling back
a little bit. Even though what were
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being told us isn't the greatest economy. It's a good economy. Unemployments down
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supposedly, But it's a problem because
when you start seeing these numbers and you're
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head scratching, and even the experts
other than just ourselves that are in the
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business starts talking about they don't really
understand what's happening. Well, to me,
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it's pretty simple. They're manipulating the
numbers so they can go ahead and
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lower interest rates like they said they
wanted to in September. That's one of
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the reasons the market's rallied now.
The Federal Reserve is in a rock and
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a hard place. They don't want
to really raise rates, are lower rates
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because they know it's going to be
inflationary. We said this all year they
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thought there was going to be six
seven eight ones interest rate raises. I
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think they're now on the table.
They're trying to squeeze one in in September,
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get the election, and go the
other way. Now, is that
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right? I don't think it's right. We usually have no FED action a
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month or two before we have the
election, but some reason they keep talking
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about doing it. Well, what
does that do? It props the market
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up, because you know, if
interest rates get lowered, the first thing
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that happens it's the markets go higher. That's what's been doing anticipation. But
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don't get fooled. Do not get
fooled, because what happens usually is when
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the lowering rates is something down the
road that hits the markets, that brings
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it down. Earnings, growth,
economic numbers, all those things start getting
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worse if they keep lowering interest rates, because they can't continue to continue to
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lower interest rates because inflation's too high. But somehow, some way, they're
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gonna go ahead in lower rates even
though they're not at their inflation number of
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two percent, which bothers me because
I think that brings back stimulation, and
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if it brings back stimulation, it
brings back inflation if it brings back inflation,
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or are they gonna go ahead and
have to change courts and raise rates
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again, or is there gonna be
what usually happens and we'll get into the
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tail end of this. And why
they're thinking about raising lowing rates is because
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do they know that the economy is
gonna slow next year? Do they feel
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it's gonna happen, and do they
need to lower the rates to stimulate the
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economy before that does happen. Nobody
knows. I know this. It's very
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hard to believe anything anymore. I
am so tired and concerned actually about what
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we are told by politicians, the
media and how everyone gets, how everything's
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getting shaped, what's still five months
from the election, and what's hearing now
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that things that you hear, things
that you see, don't believe it,
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it's false. So the narrative out
there right now with politicians is if you
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agree with me, it's true.
But if it's not our narrative or a
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gender, it's not true. And
somebody's making it up. I mean,
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they are taking American people and believing
we are the stupidest people in the world.
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When they came out with what they
call cheap fakes of Biden shuffling off
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the stages in France. In America, okay, when Obama had to put
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his arm around around him and say, come on, this is the way
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we go where he stas off in
the space. We've seen it over and
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over again, and they have the
audacity to actually use the rhetoric that those
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videos have been altered to make him
look that way. They will not even
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allow us with our own eyes what
we see in real time to be truthful.
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Their narrative is, oh, someone's
making that up. It's the other
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party. They can't even be honest
about the stuff that's actually true, and
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it's both sides. So we go
into this election, what are we going
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to believe? What are we going
to trust? Nothing? That's what it
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comes down to, and that's why
the people that love Trump do not have
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anything that care about of what they're
saying and what they're doing or what they're
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trying to do to them. In
fact, the reason Trump is gaining ground
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and continues to gain ground is because
people are sick and tired of all the
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bs that's going on and how they're
treated as an American citizen. These lawsuits
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are ridiculous. The top lawyers in
the country tell you they're ridiculous Democrats and
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Republicans. Any real lawyer will tell
you that whole thing in New York was
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a sham to get all the political
nonsense of running to go get him and
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all this other stuff, and people
believe it. So why don't they believe
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it? So the same people believe
that Biden isn't shuffling off the stage staring
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into space, not knowing where the
hell he is, but down deep in
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their stomach they know it. But
they're still gonna vote for him, just
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like the people are gonna vote for
Trump who dislike him but like his policies.
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They all say that, not all
a lot of people. I don't
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like Trump, I don't like the
way he acts, but I love his
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policies. I'm gonna have to vote
for him. Well, maybe what we
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need to see without the media being
involved, is straight up what Trump is
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gonna do when he gets in,
and what Biden would do if he stays
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in, and let us pick the
way we want this to go. Stop
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telling me the economy is so good. Stop telling me that you brought the
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inflation down. Stop telling me that
inflation was high when you came in,
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and you're bringing it down. Stop
telling me that unemployment was high and he
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brought it down. Stop telling me
all these things that aren't true, because
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most people aren't that smart and they
believe this crap. The media needs to
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be brought to the table immediately and
have them start there. The only ones,
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honestly that can bring this country together, because if they actually reported what
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really is out there, most people
would agree in the middle and be able
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to move on. The problem is
the media is so biased until they get
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attacked, even the Democrats attack them. No, but the media needs to
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just report the damn news like it
was when we grew up. Here's the
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agenda that Biden will have. He
will continue to work towards getting the illegal
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immigrants somehow citizenship down the road.
He will continue to give them free stuff.
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He will continue to try to get
them to vote. He will continue
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to be able to make them under
the UNI human manditarian way of treating humans
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and start babbling about we're not going
to separate families and we're not going to
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do this. No one's doing that. But he doesn't have a plan for
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them other than tax us, take
our money and give it to them and
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Ukraine and Israel and everybody else out
there now. So do some of them
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need it, yes, But what's
the plan behind it? What are we
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doing to protect it? Why are
our own citizens in these inner cities ravishing
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it, killing each other, have
no no, no way out. But
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yet we're giving these illegally illegal people
that come here the ability to live a
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better life than are homeless thaneople in
our inner cities. That is what's wrong
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with the Biden agenda. Don't tell
me you care about these people when you
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don't care about what's going on.
It's a show for you. It's a
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show. Don't tell me that everything's
fine and there's no violence, and you
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have fences all around your houses and
have on guards. It's the citizens of
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the United States, even right here
in Tucson, who have to fear the
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fact that the house might get robbed. Someone's chasing them out, someone's doing
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something, someone's getting shot. Come
on, What is going on with the
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youth of America is that they're just
seeing all this stuff and keep going the
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shootings that keep going on. That
poor girl that got shot at that party
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by drive bys, gang related stuff. If we're having it here. You
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know what's going on everywhere, worse
and worse and worse. But what did
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the Democrats say? Oh, it's
gun control. Gun control. People have
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guns because they're afraid. And if
we the people that are afraid don't have
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guns. Gets what? The bad
people will always have guns. You think
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these people that are coming across the
border that are bad actors, they don't
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have guns. You think they care
about having them legal? No? Do
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they care about life? No,
they care about doing what the cartails tell
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them to do to be able to
make the money that they want to make
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and bring back everything else to them. That's what they're doing. So you
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got the border problem, and no
one has a real resolution. He said
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he's gonna shut it down. Hey, I don't see him shutting it down
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with the stroke of his pen.
But even if he shut it down,
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what are you gonna do? What
do you come up with? The docker
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ruld? Okay, so now we're
gonna make all these people that a dream
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is make sure that they don't have
to leave here. Okay, what about
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everybody else that came in the millions
and millions of people that have come here
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that are not contributing to our economy
whatsoever. They're putting a dreg on her
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economy. What are you gonna do
with them? You've been the president for
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four years, Biden, so don't
tell me they're hiding from you because you
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don't do anything. Your group doesn't
do anything. You're not sending people away.
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They become brazen on the streets,
hitting, beating up, killing people,
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going after police officers, not caring
because in these cities they can smash
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and grab, they can beat up
and do stuff, and they get out
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the next day. Violence is through
the roof. But yet they stop talking
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about violence. It's not that bad. The numbers don't show it. All
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they want to do is talk about
climate change. And the reason they want
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climate change is the same reason they
wanted social security. They want to use
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that every single time to get money
into a bill so they can use it
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and appropriate it to other things that
they want to do to get voted and
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stay in power. Yes, we
all want clean air, clean water,
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we all want a better environment.
But don't tell me the world has falling
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apart every single five years that I've
been alive because of climate change, because
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it's not true. Yes, we
have probably more smog than we need more
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pollution than we need. But guess
what is that pollution the same as it
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was fifty years ago? I don't
think so. Is a water cleaner than
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it was fifty years ago? Yes, it is, But what we need
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to do. One of the thing
I do agree is that we need a
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better transportation system. We need a
better utility system, especially for electricity,
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a better grid system. We need
to figure out more with water. These
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are things we can all agree with. Those are the things I don't have
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problem putting money towards. That's the
infrastructure. But you know, they come
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up with these infrastructure infrastructure packtes and
no one spends the money, and then
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when where is the money going?
They come up with this chips thing.
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Okay, how long is that going
to take? Building the plants, that's
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good, A lot of them are
being built right here in Arizona up there
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in the outside of Phoenix, the
Chandler area. That's great, jobs,
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great, But what are we doing? How are we going to do all
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this stuff? Their idea Bidam's idea. And this is the biggest difference between
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the two is taxes. And you
better be prepared if Biden wins. Taxes
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are automatically going up. Small businesses
are going to get crushed with higher taxes,
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subbs and LLC's I get that right
off, now goodbye, unless they
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change it, which maybe they would. Okay, every tax bracket goes up
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two percent, and there's still and
the biggest one, everything's going to go
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higher. I've told you this before
and we're going to continue to talk about
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it. Under the Inflation Act that
he put in, he got down,
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he went ahead, and he's proud
of this that he got. The maximum
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you can pay in medication is eight
thousand a year. That's what it is
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now. Starting next year, it
goes down to two thousand. So everybody
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on Medicare will never be able to
pay more than two thousand a year in
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medication. So do you think that
the insurance companies that pay for this stuff
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are going to just take it and
say, oh, that's fine, we'll
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let it hit our profits. No. What is it going to do is
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increase the premiums for everybody, and
those those that can't pay the premiums will
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will will be in a position that
they'll get their medication, they won't go
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higher, and they'll have low premiums
because they can't pay it. And the
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rest of us will be paying for
it, but that's their fair share.
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Everyone's got to pay their fair share. Fair to me is everyone paying the
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percentage. Taxes are going to go
up, and we talk about it with
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everybody that comes in to see us
clients. We talk about it with new
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clients. Prospects when we do the
financial plan. Taxes very important. Now,
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sure you can stick yourself into annuities
and do this and do that.
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There's other ways to invest and not
have to worry about that, to be
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able to do to not only mitigate
risk, but protect yourself too. Roth
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conversions have come huge lately, but
you don't want to put yourself in a
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whole nother bracket to where you're now
paying for medicare, a higher premium for
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medicare. You gotta be careful about
all that social security. You want to
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work and against social security, you
gotta be careful, okay, if you're
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not over full retirement age. That's
why we do these financial plans, and
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that's why we sit down with people
now more than ever. You need to
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have a financial plan, a real
plan, not something that says, oh
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you got to do this through that, not something that says, oh you
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got to buy more insurance. There's
a lot of different avenues, but I'll
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tell you one thing. It's all
it's still about allocation. The big thing
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being sold now is annuities and lurps. You know what annuity is a life
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insurance products. But you hear the
good part of it, which is the
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income stream. But remember, life
insurance only makes sense and does well over
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time. So if you were looking
at an opportunity not to have to continue
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premiums so you can get money out, you have to have time. Look
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at whole life policies. Anyone has
a whole life policy, and the cash
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moves up. It's over time,
ten, fifteen, twenty years plus,
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then you get some real cash in
there. That's how these things work.
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Always understand, the more complicated it
is, the more you need it to
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be explained to you. You need
these things explained. There are people,
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there are situations that all these things
make sense for. But most of the
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stuff that's right for people is pure
vanilla. Understand it's simple, what's going
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on, how it's going to affect
you, and do a few things things
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to make sure you're in a position
that you're not paying extra taxes. I'm
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putting yourself in an extra higher tax
bracket. That's what we do. So
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taxes is be careful, understand the
market stall going to probably go hire,
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learn how to mitigate risk. And
the election is going to be something different,
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so you've got to figure out which
way once it happens. So be
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prepared beforehand and we will prepare you. This is the Moneymatter Show. Appreciate
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you listening. We'll be right back
with the rest of the group for the
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rest of the show. Good morning, Welcome back to the Moneymatter Show.
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This is Dave Sherwood. I'm here
with Dylan Greenberg. I'm here with Todd
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Blake Junior and Sebastian Borsini. We
appreciate Dean stopping by and dropping his monologue,
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which everybody enjoys highlighted the show,
I think, and we're here with
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a lot more information for you.
And the holiday shortened week it was very
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strange, wasn't it. It's almost
like being a doctor. You get Wednesday
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off, get Wednesday off. It
used to. I don't know if they
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do anymore. If you're out there, you know, but doctor a lot
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of doctor wal surgeons A lot of
the time they do surgeries. They book
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them on Tuesdays and Thursdays. It's
like their Manday, so you think they
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get Wednesday off. Still, it's
just slower. From what I've heard.
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It was really weird having Wednesday off
and then you come back in on Thursday
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and it kind of feels like it's
Monday, and it feels Monday and Friday.
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It's very strange combination. It was. It was odd. It was
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nice to have a day off in
the middle of the week, but it
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was a little odd. And it
was a week that had two different halves
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the first half of the week Monday
Tuesday strong rally. Thursday Friday kind of
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a little bit of a sell off
and nothing significant, but a little bit
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of a sell off. There has
historically been a June swoon. It goes
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from I believe it's the eighteenth to
the twenty eighth. Deans talked about it,
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and we're in the June swoon.
It looked like it was going to
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swoon on Friday, and then it
kind of came back and closed pretty flat.
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A very interesting week for the major
averages, where the doll and the
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equal weighted really had strong weeks,
and the Nasdaq, which has been leading
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the charge, was flat. One
of the first times we've seen that happen
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this year. I mean we had
it I think in the beginning of the
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year a couple of times, but
I can't remember in the last two months
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we've seen that. So finally getting
that divergence happening there. It's funny how
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you have in Vidia take a break
and then all of a sudden, the
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equal weighted U S and P five
hundred is up more I said, I
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said a couple of weeks ago,
is in video leading the market or the
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market leading in video? And it
just seems like in Vidio really is what
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everybody's focused on. And it's a
difficult time. It's a challenging time to
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be a money manager because you want
to do the right thing. You want
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to have pair back aggressive position the
physicians that have appreciated dramatically. But if
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you start pairing back things like in
vidio, you end up with huge capital
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games and people yelling at you,
why did you sell my video? And
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we all know at some point we're
going to look back and say, gosh,
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darn it, why didn't we sell
in video when I was up there.
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I mean, it is a one
product company, after all, do
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they do a great job. Are
they a great company with a strong leadership
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position? Absolutely, the valuation is
not crazy at this point, it's yeah,
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since you're bringing up Navidio, I
took a look at their actual revenue
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statement and where they make their money, and as you're saying right now,
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the valuation is not crazy. No, it's pretty reasonable for what they're actually
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producing on their income statement. And
that's how you know companies that you can
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have all these pie in the sky
numbers and this company's worth this, but
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actually what they earn and what it
comes out to be right, that's how
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you really know. So I hear
a lot of people have come into the
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office lately and say, I just
think that Navidia price is just something's weird
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about it. I just think it's
super high. It's high for a reason.
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They have proven themselves in actual business
and actually delivering real results, not
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just hypothetical ideas of it. But
the data center is their most dominant revenue
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source. It's probably around eighty five
to ninety percent. And they make twenty
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two point six billion in the quarter
one of their fiscal year twenty five,
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so that's predominantly where they get most
of their money. They have some from
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gaming, and they're trying to get
into some like professional visualization, automotive.
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We've seen some things about their robotic
arm that they're kind of starting to get
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involved with. But if you look
at their income statement, their cost of
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revenue is so small, and that's
why they have this just huge gross profit.
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On the robotic side, you have
a Elon Musk acquiring a bunch of
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these video chips because he sees his
future in that he's acquiring all these n
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video chips to put them into as
the Toonamentus vehicles that hopefully are going to
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make him a profit in the future. At the same time, they're starting
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to build out these robots. I'm
not sure exactly what they're going to do,
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but these robots apparently are going to
walk your dog, they'll put your
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laundry away, they're gonna put your
baby to sleep. All of that is
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what I just saw. Wow.
Yeah, and the Video Nanny did just
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become the most valuable company in the
world. It did for a about a
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minute. Yeah, it's now back
to number three. I guess it's all
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going to be those three for a
while now. It really was, it's
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going to just be one for a
day, and then and then the last
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two days after the midweek break,
we came back in and it dropped ten
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percent. Well, that was kind
of the crazy thing about Monday Tuesday is
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the market was screaming higher for seemingly
no reason. I mean even rates were
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higher, and it was just it
didn't care care. It just ran right
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into the holiday. And then I
mean, I thought, this week is
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a profit taking week. Most of
the times where you have a holiday shortened
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week, you don't have much news, and we're coming off a huge rally,
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00:29:33.920 --> 00:29:36.799
it's an easy week to take some
profit. But you didn't really see
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that in the first part of the
week. You saw it more on the
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back end of the week, and
it just kind of a it was kind
375
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of a like a pre holiday type
of week, low volume, and when
376
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you get low volume, mucan often
get dramatic moves, but we didn't really
377
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have them, no dramatic moves.
I think Monday morning came to the office
378
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and you had the dollar up,
oil up, stocks up, and rates
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up. That's it. I mean, SMP getting almost a percent, yeah,
380
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which is just counterintuitive to what should
be happening. Well because of Nvidia,
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00:30:04.440 --> 00:30:08.880
because it's very crazy how one company
can have so much influence. In
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a new all time high on Monday, became the largest company by market cap
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in the world. I think it's
interesting is if you look at like the
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top twelve companies in the world,
the only other like real actual semi conducting
385
00:30:22.319 --> 00:30:26.799
company that's in there is TSMC,
and they're nine hundred billion versus Navidia's three
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00:30:26.839 --> 00:30:32.640
point two billion, well three hundred
and twenty billion, I think three point
387
00:30:32.640 --> 00:30:34.359
two trillion. I think I said
Taiwan semi three times. Just size is
388
00:30:34.400 --> 00:30:37.119
what you're saying. No n Video
is three times the size of Taiwan want
389
00:30:38.119 --> 00:30:41.920
n Video's revenue is three times.
Their market cap is three times. So
390
00:30:42.680 --> 00:30:48.039
we're looking at semiconductors like, do
we think Taiwan semi conductors has the ability
391
00:30:48.079 --> 00:30:52.200
to room I mean, to grow
into that valuation or is Navidio going to
392
00:30:52.240 --> 00:30:53.960
come back to their Taiwan semiconductors valuations. So I was reading up on it.
393
00:30:55.039 --> 00:30:57.559
There's two different they do two different
things. The reason Nvidia gets stuffed
394
00:30:57.559 --> 00:31:03.880
from Thaiwan semi conductors because and Vidia
doesn't actually make the chips. They don't
395
00:31:03.880 --> 00:31:07.039
have. They're called a fabulous company, which means it's like a factory.
396
00:31:07.279 --> 00:31:10.119
The fabrication of it is what it's
called. And then it's if you're a
397
00:31:10.240 --> 00:31:12.319
foundry, that's where you actually create
the chip. That's where you have the
398
00:31:14.680 --> 00:31:17.119
what the process to actually grow.
And that's what we're talking about the other
399
00:31:17.200 --> 00:31:19.759
week with the gel that's opening.
And that's why tie On Semiconductor is bringing
400
00:31:19.759 --> 00:31:22.559
that company over here and building its
own factory next to it in by Costa
401
00:31:22.640 --> 00:31:27.039
Grand because it has the gel to
make the actual chip and Vidia doesn't do
402
00:31:27.119 --> 00:31:30.640
that. They make the idea for
the chip and whatever else they do.
403
00:31:30.640 --> 00:31:33.839
I don't know all the intricacies,
but they don't have the boundary factory that
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00:31:33.960 --> 00:31:37.680
actually builds the chip. And that's
why companies are working like companies like in
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00:31:37.759 --> 00:31:41.720
VideA, Apple or actually Apple's kind
of does their own thing too, but
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00:31:41.240 --> 00:31:45.799
they have or Microsoft, they all
go to tie On Semiconductor if they need
407
00:31:45.839 --> 00:31:52.160
a chip actually built. Try one
of the only positive things Biden has done
408
00:31:52.200 --> 00:31:56.079
as president, other than test for
COVID. You need a test positive for
409
00:31:56.119 --> 00:31:59.400
COVID, so that's positive, right. So the other positive thing he did
410
00:31:59.559 --> 00:32:02.920
was to bring chips, the actual
like Dylan said, the actual manufacturer of
411
00:32:02.960 --> 00:32:07.519
the chips back to the United States, and that's why you see these big
412
00:32:07.599 --> 00:32:12.480
plants in New York and more importantly
Phoenix. Well Phoenix is what I was
413
00:32:12.480 --> 00:32:15.720
saying. It's more important of what
he limited China's ability to replicate our things,
414
00:32:15.799 --> 00:32:20.559
and we slowed down their progress because
we all know the more that's over
415
00:32:20.599 --> 00:32:22.839
there, the more they're going to
get them. That's why they probably said
416
00:32:22.920 --> 00:32:25.519
Taiwans are so they can get a
hand on TSMC and really know how they're
417
00:32:25.640 --> 00:32:30.319
doing those chips, because they are
behind us right now and we wanted to
418
00:32:30.400 --> 00:32:34.240
keep it that way. The biggest
thing that's happening is that the engineers that
419
00:32:34.240 --> 00:32:36.839
are going to be working at the
factory up in Phoenix, they're over in
420
00:32:36.880 --> 00:32:39.079
Taiwan learning to learn the whole process
everything, training for a year and a
421
00:32:39.119 --> 00:32:42.880
half. Yeah, and then they're
coming back here to do it. So
422
00:32:43.000 --> 00:32:45.119
it's taking them a little longer to
find the workers because of that, but
423
00:32:45.279 --> 00:32:47.440
they're actually finding them and that's what
it's going to be, and that's going
424
00:32:47.519 --> 00:32:52.359
to change. Taiwan's like their base, they're going to be in Arizona.
425
00:32:52.880 --> 00:32:55.279
And like we always talk on the
show about allocation, if your allocation was
426
00:32:55.359 --> 00:32:59.440
you wanted to have five percent of
your account in Nvidia, and it's now
427
00:32:59.559 --> 00:33:04.319
twenty four because the stock has gone
from one hundred to thirteen hundred. Right,
428
00:33:05.640 --> 00:33:10.559
you need to pair back. And
I understand that selling Nvidia creates tax
429
00:33:10.720 --> 00:33:15.319
issues if you're in a taxable account. I get that, but it's better
430
00:33:15.400 --> 00:33:19.079
to have tax issues than to have
the gain disappear. And I've lived through
431
00:33:19.160 --> 00:33:22.799
that before too. So taking some
profit on Nvidia, if you're one of
432
00:33:22.880 --> 00:33:25.039
the fortunate few that's in it,
or not fortunate few, one of the
433
00:33:25.160 --> 00:33:29.920
fortunate people that's in it, is
not a bad idea. Before we move
434
00:33:29.960 --> 00:33:31.839
any further, I have a disclaimer
to read. The show is sponsored by
435
00:33:31.880 --> 00:33:37.079
Greenberg Financial Group and you can listen
on seven ninety KNSC or iHeartRadio. The
436
00:33:37.160 --> 00:33:40.480
show discusses different investment products and strategies. Every product and strategy have some type
437
00:33:40.480 --> 00:33:45.240
of inherent risks, and we strongly
encourage our listeners to properly understand this risk
438
00:33:45.359 --> 00:33:49.359
to determine whether to buy, sell, or hold. The show has been
439
00:33:49.400 --> 00:33:52.440
on air for over thirty years.
The Greenberg Financial Group is registered with the
440
00:33:52.519 --> 00:33:57.160
SEC and a member of FINRA and
SIPIK. Visit our website at Greenberg Financial
441
00:33:57.200 --> 00:34:01.119
dot com for some more information.
Nice jobs a bash. The highest S
442
00:34:01.240 --> 00:34:05.880
and P five hundred year end estimate
on the street was fifty six hundred,
443
00:34:06.240 --> 00:34:07.880
and Dean said, until it's not, you know, until they raised it.
444
00:34:08.199 --> 00:34:14.360
And last week Evercore raised their year
end sm P price target to six
445
00:34:14.480 --> 00:34:17.760
thousand. What's their reasoning that's the
highest on the street, Just because I
446
00:34:17.800 --> 00:34:22.360
think it's gonna go to six thousand, that's specific reason. That's why they
447
00:34:22.440 --> 00:34:28.199
raised it. How about lower interest
rates and artificial intelligence? That'd be my
448
00:34:28.280 --> 00:34:30.599
guess. Well they I'm gonna test
your knowledge here, because these guys already
449
00:34:30.639 --> 00:34:34.880
know the answer. Oh, what
is the most profitable company in the world?
450
00:34:35.159 --> 00:34:39.800
The most profitable company in the world. Wow, not a clue.
451
00:34:39.920 --> 00:34:43.639
Yeah, I just throwing out there, what do you think. I wouldn't
452
00:34:43.639 --> 00:34:45.480
even guess Apple. It's a good
guess. So you have a guys,
453
00:34:45.599 --> 00:34:51.960
you remember I forgot you guys forgot
I forgot it's a Ramco actually oh yeah,
454
00:34:52.360 --> 00:34:54.679
oh okay, yeah around Audi A
fun little fact. I mean,
455
00:34:54.719 --> 00:34:59.000
it's the sixth largest company in the
world right now, but they're actually the
456
00:34:59.039 --> 00:35:01.360
most pro Saudi Arabia oil company.
I remember when they were going wanted to
457
00:35:01.400 --> 00:35:05.159
go public a few years ago.
It was before any company hit a trillion
458
00:35:05.159 --> 00:35:07.960
dollar market cap. They wanted to
go public with a two trillion dollar market
459
00:35:07.000 --> 00:35:10.800
cap. Everybody thought it was insane. And now we got so many companies
460
00:35:10.880 --> 00:35:15.679
over two trillion dollars in market cap. But that was only four years ago.
461
00:35:15.960 --> 00:35:19.440
But they're talking just four years ago. Yeah, really amazing. I
462
00:35:19.519 --> 00:35:22.840
was just like insane that they would
do that. I want to talk about
463
00:35:22.960 --> 00:35:25.360
XLK. Got about forty five seconds. Yeah, we'll do that. That's
464
00:35:25.360 --> 00:35:28.079
a big that's a big one.
We'll do it. On the other side,
465
00:35:28.119 --> 00:35:32.480
that's a big one. XLK is
the the technology e t F And
466
00:35:32.519 --> 00:35:37.599
there's a big deal coming with XLK
and I read a lot about it,
467
00:35:37.079 --> 00:35:42.039
and I don't have any idea what's
going to happen there, but hopefully you
468
00:35:42.119 --> 00:35:45.800
can bring us some insight into that. Sebastian, we'll be back right after
469
00:35:45.840 --> 00:35:47.480
this break. Once again, thanks
for joining us. This is the Money
470
00:35:47.559 --> 00:35:52.559
Matter Show, I KNSD. Welcome
back to The Money Matter Show. My
471
00:35:52.639 --> 00:35:55.920
name is Toddlick. I'm here with
Sebastian bors Seni, David Sherwood, and
472
00:35:57.119 --> 00:36:00.760
Dylan Greenberg. So we were just
on the other side of the talking about
473
00:36:00.880 --> 00:36:06.360
XLK, the ETF. It's a
technology ETF offered by the Spider. I
474
00:36:06.440 --> 00:36:09.719
think they're State Street technically, as
the company have actually puts together these ETFs.
475
00:36:09.840 --> 00:36:15.079
But Spiders have all you have XLK, which is technology, XLU utilities,
476
00:36:15.280 --> 00:36:17.360
XLE energy, So it all is
broken down into sectors. But XLK
477
00:36:17.639 --> 00:36:22.559
has a very interesting shakeup that it's
going through. They're gonna start rebalancing.
478
00:36:22.840 --> 00:36:27.039
XLK will be a force seller of
eleven billion dollars worth of Apple and a
479
00:36:27.119 --> 00:36:30.880
forced buyer of almost ten billion dollars
worth of Nvidia and the rebalance, so
480
00:36:30.039 --> 00:36:34.800
essentially they're taking they're keeping their Microsoft
waiting which is the highest waiting from twenty
481
00:36:34.840 --> 00:36:37.639
two percent, keeping it at twenty
two, and they're taking Apple from twenty
482
00:36:37.679 --> 00:36:42.679
two percents down to four point five
percent, right, and then they're taking
483
00:36:42.719 --> 00:36:45.960
in video from about a six percent
allocation up to twenty one percent allocation.
484
00:36:46.480 --> 00:36:50.320
Why are you doing this at a
time that in videos at all time highs.
485
00:36:50.800 --> 00:36:53.239
I'm not quite sure. Well,
there is there are things that they
486
00:36:53.360 --> 00:36:57.679
have to not and I read quite
a bit about it and honestly came away
487
00:36:57.760 --> 00:37:05.039
with starry eyed the there are rules
that they are required to follow and based
488
00:37:05.119 --> 00:37:09.000
upon market cap, and that's what's
generating this. And now the interesting part
489
00:37:09.039 --> 00:37:15.840
about it is the rebalancing I believe
took place on Friday so all of the
490
00:37:15.320 --> 00:37:20.519
which is interesting because Nvidia, which
they need to buy a ton of,
491
00:37:21.559 --> 00:37:25.440
lost ten percent on Thursday and Friday, and Apple, which they needed to
492
00:37:25.519 --> 00:37:30.280
sell a ton of, was fractionally
lower. There's an inside job the K
493
00:37:30.320 --> 00:37:34.559
news coming it is. And what
I find with these rebalancing, these major
494
00:37:34.639 --> 00:37:38.880
rebalancings, is they take place behind
the scenes, using futures and options,
495
00:37:38.960 --> 00:37:45.119
and they're typically not very disruptive.
The bottom line is the XLK is going
496
00:37:45.199 --> 00:37:52.599
to be more dominated by Nvidia and
less dominated by Apple going forward. Not
497
00:37:52.719 --> 00:37:55.880
really disruptive. But you I would
think that the average retail investor, they
498
00:37:55.920 --> 00:37:59.880
read the headline about the XLK rebalancing
and they say, Okay, I'm going
499
00:38:00.159 --> 00:38:05.119
all in on a video, right, you would think carefully drop ten percent.
500
00:38:05.199 --> 00:38:07.960
Most people need to do like I
don't know why Explicated just didn't do
501
00:38:07.039 --> 00:38:10.199
fifteen percent Apple in the video Microsoft, I mean, they're all great companies.
502
00:38:10.760 --> 00:38:14.639
Why are you make an Apple down
the four it makes It makes no
503
00:38:14.800 --> 00:38:15.719
sense. And then on top of
that, you're going to add, oh,
504
00:38:15.800 --> 00:38:20.119
we're going to take a six percent
up to a twenty one when that
505
00:38:20.199 --> 00:38:22.719
company just hit all time highs.
That's not how you manage money. Yeah,
506
00:38:22.719 --> 00:38:24.239
it's weird. D Like you're saying
some of it was based off market
507
00:38:24.320 --> 00:38:27.440
cap, but I mean Apple's right
up there with the market cap. As
508
00:38:27.480 --> 00:38:29.719
a video it makes no sense in
that and I don't need to do and
509
00:38:29.960 --> 00:38:32.360
I don't know, but it was
somewhere in the perspective somebody with the ETFs.
510
00:38:32.400 --> 00:38:36.760
So along with it is a more
passive management. It's not like amutual
511
00:38:36.760 --> 00:38:39.000
fund where you have a portfolio manager
constantly on it. So it's more even
512
00:38:39.039 --> 00:38:42.840
more interesting, they're just gonna put
twenty one percent of video in and just
513
00:38:42.920 --> 00:38:45.360
leave it for a bit. It
just seems very random. It's important to
514
00:38:45.440 --> 00:38:49.760
understand what's in a ETF, and
you can easily do this in exchange traded
515
00:38:49.800 --> 00:38:52.360
fund. Yeah, you can look
up the top ten holdings for any ETF.
516
00:38:52.480 --> 00:38:54.679
There's many websites that will give you
the information for free and give you
517
00:38:54.760 --> 00:38:59.159
the actual percentages that the ETF holds
in. I mean, for example,
518
00:38:59.239 --> 00:39:02.360
the solar et tan Taan was one
of those that we looked at and we
519
00:39:02.440 --> 00:39:06.360
were wanting to get exposure into solar, but then we found that when we
520
00:39:06.400 --> 00:39:08.519
look at the holdings, one holding
was the reason that ETF was up and
521
00:39:08.599 --> 00:39:12.639
all the other ones was why it
was underperformance. That was a great find
522
00:39:12.679 --> 00:39:15.760
by you guys, But that's one
of those examples of when you look into
523
00:39:15.800 --> 00:39:21.400
an ETF, sometimes the rest of
it it's either too concentrated or not concentrated
524
00:39:21.559 --> 00:39:24.519
enough, and that's how you can
really make sure that you're not having unexposed
525
00:39:24.639 --> 00:39:29.679
risks. Yeah, ETF of you
others the similar to mutual funds. Mutual
526
00:39:29.679 --> 00:39:32.400
funds a obviously much older, but
the difference is that ets trade throughout the
527
00:39:32.440 --> 00:39:36.199
day like a normal stock, so
you can buy and sell more liquid in
528
00:39:36.280 --> 00:39:38.599
that sense. Mutual funds only are
priced at the end of the day after
529
00:39:38.679 --> 00:39:44.079
trading's done. Mutual funds come with
other expenses because they have active portfolio managers,
530
00:39:44.079 --> 00:39:46.360
so usually that expense ratio is a
little higher than it would be with
531
00:39:46.440 --> 00:39:51.280
an ETF. You can have XLK, which is a technology when we just
532
00:39:51.280 --> 00:39:53.960
spoke about, and a mutual fund, same holding, same position, same
533
00:39:54.039 --> 00:40:00.840
everything, but one that's the only
difference would be actively traded and throughout the
534
00:40:00.920 --> 00:40:05.719
day and tax purposes and tax mutual
funds have capital games. You might have
535
00:40:05.760 --> 00:40:08.679
to worry about if the mutual fund
underlying holdings is forced to sell. So
536
00:40:08.760 --> 00:40:13.360
there's some nuances and differences between the
two, but overall this is the same
537
00:40:13.400 --> 00:40:15.440
idea. But you got to make
sure you know the difference between the ETF
538
00:40:15.519 --> 00:40:19.320
and the mutual fund because there are
a lot of hidden things with mutual funds.
539
00:40:19.480 --> 00:40:22.760
Another another example, XBI were thinking
about opening a position with them.
540
00:40:22.000 --> 00:40:25.599
Look up their top holdings, and
the top holding is what novavax okay cool?
541
00:40:25.760 --> 00:40:29.360
Not touching with a ten foot poll
after it went up fifty percent in
542
00:40:29.400 --> 00:40:34.920
about a week. Right, look
about a little more due diligence than just
543
00:40:34.960 --> 00:40:37.559
looking at the name of the etf
ets So people will fall in love with
544
00:40:37.639 --> 00:40:43.480
ETF names sometimes, like when the
memes stocks were going real big a couple
545
00:40:43.480 --> 00:40:47.039
of years ago, you had literally
an ETF called meat me Emy and people
546
00:40:47.119 --> 00:40:50.719
were buying it because it was just
a combination of GameStop, you know.
547
00:40:50.960 --> 00:40:53.360
Or when you have sire one stuck's
going crazy, y you had MJ you
548
00:40:53.440 --> 00:40:58.599
have you with the betting companies called
bets. Yeah, and most mostly exchange
549
00:40:58.639 --> 00:41:02.239
created funds are not manny. Most
mutual funds are. There's another fairly major
550
00:41:02.360 --> 00:41:07.360
difference. An ETF, an exchange
traded fund, really is more similar to
551
00:41:07.480 --> 00:41:13.360
the old unit investment trust u I
T. Some of some of us older
552
00:41:13.400 --> 00:41:16.079
folks are very familiar with u I
T s. They were the first ETFs.
553
00:41:16.239 --> 00:41:20.000
Essentially, they make us learn about
it still and we never use.
554
00:41:20.119 --> 00:41:23.599
Yeah, you'll have to study for
it when when you take the licensing exams.
555
00:41:23.920 --> 00:41:27.400
Kind of cool. Unit trust are
cool. They just don't do them
556
00:41:27.480 --> 00:41:29.840
much anymore. No, No,
you don't see you don't see much.
557
00:41:30.119 --> 00:41:34.880
I was when I was at RBC, they were like showed me how to
558
00:41:34.920 --> 00:41:37.760
build them. Yeah, really replaced
them. Yeah, they really have.
559
00:41:38.360 --> 00:41:42.719
Uh. The economy of retail sales
from AY were up one tenth of a
560
00:41:42.800 --> 00:41:45.719
percent versus two tenths of a percent. That's good if you're wanting lower interest
561
00:41:45.800 --> 00:41:51.280
rates. Yeah, which again though
we saw rates kind of tick higher this
562
00:41:51.400 --> 00:41:53.880
week, which is seemed like they
were listening to maybe some FED talk or
563
00:41:53.960 --> 00:41:57.880
something. They did did take a
little bit higher. Yeah, the ten
564
00:41:58.079 --> 00:42:00.599
the two year, which it had
gotten down around four point four. I
565
00:42:00.679 --> 00:42:06.360
think up around four point seven.
We still have the inverted y old curve.
566
00:42:06.639 --> 00:42:07.840
Four point seven on a two year
but if you want to go out
567
00:42:07.880 --> 00:42:12.199
ten years, you get four and
a quarter. Again, that is predicting
568
00:42:12.280 --> 00:42:15.920
a slowing economy in the future.
I mean we have been for two years.
569
00:42:16.000 --> 00:42:19.880
We're slowing. We've been slowing over
the last three months. Question.
570
00:42:20.400 --> 00:42:23.079
Second home sales at a thirty year
low right now, thirty years low.
571
00:42:23.119 --> 00:42:28.880
I saw that barely. What jumped
in May was inventory for existing home sales.
572
00:42:28.920 --> 00:42:31.400
Six more seven percent jumped. But
I mean that says prices the mean.
573
00:42:31.679 --> 00:42:37.639
Guess what the mean house prices across
the country the median or the mean
574
00:42:37.719 --> 00:42:40.840
median? No, sorry, the
median four to fifty the median the middle
575
00:42:40.920 --> 00:42:49.159
number or nineteen four nineteen is the
median house It is skewed because of higher
576
00:42:49.199 --> 00:42:52.119
prices, and comedian is not the
average meeting is the middle number? Well,
577
00:42:52.159 --> 00:42:54.960
the mean gets more skewed than the
median. Oh, absolutely, that's
578
00:42:54.960 --> 00:42:58.719
why they don't use it as much. The median is is a good number
579
00:42:58.840 --> 00:43:02.639
to use. Sales of homes below
two hundred fifty thousand are lower than they
580
00:43:02.679 --> 00:43:07.000
were a year ago. Sales between
two hundred fifty and five hundred thousand are
581
00:43:07.280 --> 00:43:10.119
up one percent, sales between seven
hundred fifty thousand and one million are up
582
00:43:10.159 --> 00:43:14.519
thirteen percent, and sales of homes
over a million dollars over the last year
583
00:43:14.679 --> 00:43:17.239
up twenty three percent. That makes
one hundred percent sense crazy, and you're
584
00:43:17.239 --> 00:43:22.320
saying it makes sense. You're saying
sales are at a thirty year low existing
585
00:43:22.360 --> 00:43:25.360
home sales. Yeah, they're actually
thirty year low because the high and because
586
00:43:25.400 --> 00:43:29.639
everybody covets their mortgage rate. But
what is selling is the million dollar plus
587
00:43:29.719 --> 00:43:30.840
homes. Sure, because people can
still afford them. We're just still ford
588
00:43:30.920 --> 00:43:36.039
right, pay right. Well,
if you're in a certain level of assets,
589
00:43:36.119 --> 00:43:37.320
if you have assets, it's easy
to get other assets. It's the
590
00:43:37.320 --> 00:43:40.320
people who are getting those first assets. And that's that two hundred fifty and
591
00:43:40.400 --> 00:43:44.519
below area exactly. And now there's
less houses under two and fifty thousand.
592
00:43:44.800 --> 00:43:46.079
Oh, you could barely find a
house. What's interesting, though, if
593
00:43:46.119 --> 00:43:51.519
you drive around Tuson, you're seeing
more for sale signs, quite a few
594
00:43:51.599 --> 00:43:55.599
more for sale signs, and you're
seeing them up longer than they were before.
595
00:43:55.920 --> 00:43:58.840
Before you didn't even have put a
sales sign up. You know,
596
00:43:59.039 --> 00:44:00.519
just say, hey, get tell
if your friends are going to sell,
597
00:44:00.519 --> 00:44:05.079
the house is gone. And with
home construction, housing starts and building permits
598
00:44:05.159 --> 00:44:07.880
dropped to the lowest level since July
and June of twenty twenty, respectively.
599
00:44:08.159 --> 00:44:14.320
So I think that's that's a positive
thing for CPI if you're looking for the
600
00:44:14.599 --> 00:44:17.519
inflation rate to come down, because
we've talked about this on nauseum, there's
601
00:44:19.000 --> 00:44:22.039
it's a third of the CPI.
Well no, I mean, don't you
602
00:44:22.159 --> 00:44:25.320
need more inventory? That's what you
would want. The more inventory you get,
603
00:44:25.559 --> 00:44:30.920
the more supply. What I'm saying
is is todd If you're seeing houses,
604
00:44:30.119 --> 00:44:35.760
more houses on the market and them
staying on the market longer, it
605
00:44:35.840 --> 00:44:38.760
means they're going to have to lower
prices to get them to sell, which
606
00:44:38.840 --> 00:44:42.840
they have not had to do for
years. The ruses are fifty percent higher
607
00:44:42.880 --> 00:44:45.559
than they were five years ago,
and mortgage payments is also double fifty They
608
00:44:45.599 --> 00:44:50.239
are down year over year. I
mean the existing home sales we talked about
609
00:44:50.320 --> 00:44:53.159
last week, we're down about ten
percent of average across the board. So
610
00:44:53.880 --> 00:44:58.679
you are seeing that they are kind
of readjusting those prices, but you still
611
00:44:58.679 --> 00:45:01.440
have so much inventory that I was
talking to a client about do I see
612
00:45:01.480 --> 00:45:07.519
a housing crash and you just maybe
in certain pockets of the country, but
613
00:45:07.039 --> 00:45:12.000
you're not gonna see anything big because
all these mortgages, they're not you know,
614
00:45:12.119 --> 00:45:15.079
poor mortgages. There's no like a
whole bunch of adjustables out there.
615
00:45:15.199 --> 00:45:17.280
Sure, it's just that everyone's coveting
their mortgage, right, So it's a
616
00:45:17.320 --> 00:45:22.800
completely different issue where if rates drop, you're going to have a flood of
617
00:45:22.960 --> 00:45:24.800
people wanting to get into new houses. It also seems like if it's in
618
00:45:24.840 --> 00:45:29.559
a place that hasn't been historically like
desirable to live in, but all of
619
00:45:29.559 --> 00:45:31.119
a sudden they see a housing crash, you got a lot of remote workers
620
00:45:31.159 --> 00:45:34.920
say we're moving there, and they're
gonna juge Frida. They're gonna do everything
621
00:45:34.960 --> 00:45:37.400
cause I mean, there's a ton
of people moving to Idaho from California,
622
00:45:37.440 --> 00:45:39.239
stuff which you probably never thought would
happened. Sure in the last few years,
623
00:45:39.679 --> 00:45:45.480
that's an interesting conundrum. On Friday, Forbes has a list of the
624
00:45:45.639 --> 00:45:50.679
best places in the United States to
rent, and it was based on affordability.
625
00:45:51.199 --> 00:45:57.400
Number nine on that list was Tucson, Arizona. However, last week
626
00:45:57.480 --> 00:46:01.760
we saw a report that Tucson rents
have risen forty three percent in the last
627
00:46:01.840 --> 00:46:07.000
five years, making it the fifth
most the fifth biggest increase of anywhere in
628
00:46:07.079 --> 00:46:10.840
the nation. So I'm not sure
what that just sounds like it's along the
629
00:46:10.880 --> 00:46:14.719
lines of what Dylan was just saying
that as if you see it's cheaper,
630
00:46:14.880 --> 00:46:17.000
that's why people moved to the area. Since people moved to the area,
631
00:46:17.039 --> 00:46:21.679
it's going to see a faster growth
of the rent. Apparently up forty three
632
00:46:21.760 --> 00:46:24.480
percent still makes us more affordable than
most other place And we talk about all
633
00:46:24.480 --> 00:46:29.559
the time. Zero to one is
one hundred percent increase. I need to
634
00:46:29.599 --> 00:46:32.360
raise my rent. Yeah, that's
right, you got you got tennis,
635
00:46:32.400 --> 00:46:37.079
don't you get oil? Up for
a second straight week, added another two
636
00:46:37.079 --> 00:46:39.440
and a half bucks, So that
was down around seventy two dollars two weeks
637
00:46:39.440 --> 00:46:43.360
ago, now to eighty and a
half. Seems like it wants to rally
638
00:46:43.400 --> 00:46:45.559
a little higher. Got over it's
two hundred day moving average and has some
639
00:46:45.679 --> 00:46:49.599
momentum behind it. Feel sorry for
you people to have to buy Yeah,
640
00:46:50.159 --> 00:46:53.880
hey, you know gold down eleven
bucks on the week to twenty three,
641
00:46:54.000 --> 00:47:00.480
twenty pretty good base for gold.
It seems around twenty three hundred. So
642
00:47:00.119 --> 00:47:06.880
just just before I move on,
you got thirty second. Sixty six percent
643
00:47:06.960 --> 00:47:09.599
of your home's energy is produced by
gas. So even though you're charging,
644
00:47:10.159 --> 00:47:15.039
percent of your homes energy is produced
by natural gas. Well, no,
645
00:47:15.119 --> 00:47:19.239
it's produced by gas. You know, in fossil fuels, which oil.
646
00:47:20.320 --> 00:47:22.519
You know your your electric costs are
getting more expensive. You don't have solid
647
00:47:22.599 --> 00:47:27.199
dude, why not me? So
you still see the cost of gas,
648
00:47:27.360 --> 00:47:30.119
just in a different ways. To
back right after this break, I got
649
00:47:30.239 --> 00:47:36.320
more about electric vehicles. I been
sure you Welcome back to the second hour
650
00:47:36.440 --> 00:47:37.880
of the Money Matter Show. For
those of you just tuning in. I'm
651
00:47:37.920 --> 00:47:40.239
Dylan Greenberg. I'm here with the
bash of Ward seeing he Todd Glick,
652
00:47:40.519 --> 00:47:44.400
and Dave Sherwood. Hean just did
the monologue and then he had had up
653
00:47:44.440 --> 00:47:46.880
the Phoenix for a little week and
get away and doing some football stuff up
654
00:47:46.880 --> 00:47:51.199
there. I had several meetings with
clients this past week. A couple of
655
00:47:51.239 --> 00:47:53.400
clients came in. They had different
things they were working on, and you
656
00:47:53.480 --> 00:47:58.719
know, we've got the greatest clients
in the world. It's what a wonderful
657
00:47:58.800 --> 00:48:01.800
business that your clients are, your
are your friends, and if you're listening.
658
00:48:02.519 --> 00:48:07.199
Thank you, because we wouldn't be
here without you, and it's and
659
00:48:07.280 --> 00:48:12.639
i'd have a lot fewer friends because
it really is nice to have clients be
660
00:48:12.719 --> 00:48:16.920
friends. I really really enjoyed that. The uh, what we haven't talked
661
00:48:16.920 --> 00:48:20.119
about the weather. You know,
the weather's kind of crazy, right.
662
00:48:21.199 --> 00:48:23.880
We got a much milder weekend.
This weekend. We can actually go outside
663
00:48:23.960 --> 00:48:29.000
if you're if you're careful. Right, Thursday was the longest day this year.
664
00:48:29.679 --> 00:48:32.519
So now think about this now,
the days are slowly getting shorter.
665
00:48:34.639 --> 00:48:38.639
About the twentieth because it was between
the twentieth and first either, Yeah,
666
00:48:38.679 --> 00:48:40.519
and I couldn't figure out which year
it was. I thought it was the
667
00:48:40.559 --> 00:48:44.760
twenty first two, don but it
was the twentieth. I feel like it's
668
00:48:44.800 --> 00:48:47.480
because of the whole leapier leap here. Yeah, I bet that's it.
669
00:48:47.639 --> 00:48:51.039
That has something to do with it
too. But you know, the days
670
00:48:51.039 --> 00:48:53.599
are getting shorter, and the sun
is slowly moving south. I've lived here
671
00:48:53.679 --> 00:48:59.480
for fifty two years, and I
always tell myself the worst of the heat
672
00:48:59.559 --> 00:49:02.280
is over now. I'm pulling myself, of course, but I'm telling myself
673
00:49:02.840 --> 00:49:07.320
the sun is moving south, is
getting less intense. It's all going to
674
00:49:07.360 --> 00:49:10.679
be good. Monsoon activity kicking in
early this year, which is pretty cool.
675
00:49:10.840 --> 00:49:14.760
Some clouds in the afternoon break.
I got a few sprinkles on the
676
00:49:14.800 --> 00:49:17.280
east side. On Thursday, they
got a pretty good rain and it's getting
677
00:49:17.320 --> 00:49:22.199
some rain body rain this weekend.
Humidity is a little higher, fewer cooler
678
00:49:22.280 --> 00:49:29.239
mornings Friday morning when we got up
ninety degrees. Discussing Friday morning, Tucson
679
00:49:29.320 --> 00:49:32.119
has not had an official one hundred
and ten degree day yet. We normally
680
00:49:32.159 --> 00:49:35.360
get one of those a year.
Enow for those of you who are new
681
00:49:35.400 --> 00:49:38.199
to Tucson, we normally get one
of those a year one and ten degree
682
00:49:38.280 --> 00:49:43.920
day. There was a number of
years ago where we had six of them,
683
00:49:44.360 --> 00:49:47.960
and then it was last year.
Last year we had fourteen days one
684
00:49:49.119 --> 00:49:53.800
ten and above, breaking the previous
record of six and certainly smashing the average
685
00:49:53.840 --> 00:49:59.119
of one. So let's hope this
year we're back to one and we get
686
00:49:59.239 --> 00:50:04.000
rainfall above average and we'll just have
to tolerate the humidity right well. Also,
687
00:50:04.159 --> 00:50:07.000
at lot this time last year,
we were saying this and like global
688
00:50:07.039 --> 00:50:09.360
warming, all these lakes are,
you know, getting emptied, and there's
689
00:50:09.559 --> 00:50:13.639
just nothing. It just looks terrible
and then a year later, it's like
690
00:50:13.719 --> 00:50:15.639
all these lakes are filled up,
and you see the videos and they're just
691
00:50:15.760 --> 00:50:21.000
like completely different. Looked at it
and it looked like it just was flooded
692
00:50:21.039 --> 00:50:22.960
all these It just looked like a
bunch of plants and stuff in, like
693
00:50:23.039 --> 00:50:27.920
trees that were it's been dry for
so long that they started growing, flooded
694
00:50:28.079 --> 00:50:31.320
the entire thing. The city had
Tucson putting sandbags out already, like yeah,
695
00:50:31.400 --> 00:50:35.960
there there's plenty of water, and
I don't think we have to wear
696
00:50:36.000 --> 00:50:37.559
all. Right. Back to the
markets, for those of you just tuning
697
00:50:37.639 --> 00:50:39.960
in, the dot was up one
and a half percent for the week,
698
00:50:39.960 --> 00:50:44.679
The SMP was up zero point six
for the week, the Nasdaq was flat,
699
00:50:44.760 --> 00:50:46.679
The Rustle two thousand was up point
eight percent for the week, and
700
00:50:46.800 --> 00:50:50.880
the equal weighted S and P five
hundred was up one point one percent.
701
00:50:51.639 --> 00:50:53.239
S and P five hundred. The
main reason it didn't beat the equal weighted
702
00:50:53.320 --> 00:50:57.679
was because a video took a break
and had to pull back. Very unusual,
703
00:50:58.119 --> 00:51:00.400
Like Todd said in the first hour, to see then has deck up
704
00:51:00.440 --> 00:51:05.840
one point yep and and the Dow
up one and a half percent. We
705
00:51:05.960 --> 00:51:08.280
did see the S and P hit
fifty five over fifty five hundred for the
706
00:51:08.320 --> 00:51:13.920
first time ever. And now and
now companies are starting to raise their price
707
00:51:13.960 --> 00:51:17.039
targets, which you said, one
is putting it to six thousand. Ever,
708
00:51:17.119 --> 00:51:20.960
course six thousand. Yeah. Part
of the strength in the Dow was
709
00:51:21.079 --> 00:51:25.280
McDonald's. McDonald's is the third worst
performing Dow stock. If it weren't for
710
00:51:25.360 --> 00:51:29.639
Intel and Boying, it would be
at the bottom. But Intel and Boying
711
00:51:29.760 --> 00:51:31.119
like the like to hang out at
the bottom there. Yeah, for just
712
00:51:31.320 --> 00:51:35.239
perspective, last week, the Dow
was up one and a half percent year
713
00:51:35.280 --> 00:51:37.519
to date, the Dow's up four
percent. There you go, it's almost
714
00:51:37.559 --> 00:51:39.239
doubled it. The S and P
five hundred was only five percent for the
715
00:51:39.320 --> 00:51:43.400
year. It's almost up fifteen percent. And the nasdack's up eighteen percent for
716
00:51:43.440 --> 00:51:45.119
the year. So now had a
great week last week. Yeah, the
717
00:51:45.519 --> 00:51:50.840
McDonald's gained four percent at the end
of last week. On news that that
718
00:51:50.960 --> 00:51:54.360
five dollars meal they've been talking about
it's gonna roll out next Tuesday, and
719
00:51:54.519 --> 00:51:58.800
Todd, being the skeptic that Toddy
is, said, yeah, but you're
720
00:51:58.800 --> 00:52:00.960
not gonna get my show. Okay, stand by, you're gonna get a
721
00:52:01.000 --> 00:52:04.960
burger or chicken sandwich. The size
of it. Please, you're gonna get
722
00:52:05.000 --> 00:52:07.599
size of it. You're gonna get
small fries. You're gonna get four pieces
723
00:52:07.639 --> 00:52:14.199
of chicken McNugget exactly and a small
drink exactly twenty to a scrowny guy like
724
00:52:14.280 --> 00:52:16.000
you would be stuff. No,
I would need like eight of those meals
725
00:52:16.519 --> 00:52:19.960
to get the calories I need from. I remember when I was in college,
726
00:52:20.039 --> 00:52:23.000
they used to have a McDonald's was
ten for a dollar. You can
727
00:52:23.039 --> 00:52:25.599
get ten for a dollar, and
I'd go buy ten. I do ten?
728
00:52:25.719 --> 00:52:30.559
What ten hammers? Yeah? And
they weren't like the size of your
729
00:52:30.800 --> 00:52:32.480
you know, little they were like
spiders. They were like but they're like
730
00:52:32.559 --> 00:52:37.840
they are now McDonald's hamburgers and McDonald's. Imber gonna one McDonald's. IM we're
731
00:52:37.880 --> 00:52:40.039
gonna fill you up. I mean, I mean a quarter pounders are good
732
00:52:40.320 --> 00:52:45.519
quarter They make the quarter pounders to
big macfanel that I'm a big mac fan.
733
00:52:45.599 --> 00:52:47.480
But they make the quarter pounders to
order. You always have to wait
734
00:52:47.559 --> 00:52:51.199
for a quarter pounder. You never
have to wait for the other burgers.
735
00:52:51.239 --> 00:52:52.840
So just think about it. I
like it. I like a quarter pounder.
736
00:52:53.039 --> 00:52:55.960
But although the quarter pounder is a
little greasier than I like. I
737
00:52:57.119 --> 00:53:00.800
like theat on the grill. Man
like the big macau bread to soak up
738
00:53:00.840 --> 00:53:04.639
the grease. Okay, you know, hey, they're not a week goes
739
00:53:04.679 --> 00:53:08.320
by that I don't get a call
or have someone stop in and ask me
740
00:53:08.400 --> 00:53:14.960
a question about electory vehicles. Because
there's a lot of people around electric vehicles.
741
00:53:15.199 --> 00:53:17.119
Everyone knows that range is an issue. I have someone call me the
742
00:53:17.159 --> 00:53:20.159
other day said, am I going
to be able to make it to Phoenix?
743
00:53:20.800 --> 00:53:22.199
Yes? You are. You're going
to be able to make its Phoenix.
744
00:53:23.199 --> 00:53:28.440
My model hy has an EPA estimate
of three hundred miles per charge,
745
00:53:28.480 --> 00:53:30.480
but I've never gotten more than forty
to forty to the best I've ever got
746
00:53:30.880 --> 00:53:35.239
current conditions, I'm lucky to get
two hundred, happy to have that.
747
00:53:35.760 --> 00:53:38.480
Mountains are a challenge for a battery, so I've never taken it up the
748
00:53:38.519 --> 00:53:43.400
mountains. But on Juneteenth, my
wife and I decided to go to Mount
749
00:53:43.480 --> 00:53:45.960
Lemon and have lunch. By the
way, it was seventy eight degrees at
750
00:53:45.000 --> 00:53:52.280
high noon on Mount Lemon. It
wasn't bad going up. The car took
751
00:53:52.840 --> 00:53:55.159
I used twenty three percent of my
battery going up, which is roughly what
752
00:53:55.320 --> 00:54:00.719
I do around town. Forty one
miles from my house to the top use
753
00:54:00.760 --> 00:54:06.599
twenty three percent of the battery.
However, because recumbent breaking feeds the battery,
754
00:54:07.679 --> 00:54:09.760
I was able to make the forty
one mile trip back to my house
755
00:54:09.960 --> 00:54:16.079
using just five percent of my battery
going down cells, Sebastian, I can
756
00:54:16.159 --> 00:54:22.360
go eight hundred miles urgency alert.
Huh, So I can go eight hundred
757
00:54:22.400 --> 00:54:25.079
miles on one charge, as long
as it's all downhill, all downhill Mount
758
00:54:25.159 --> 00:54:30.280
Lemon. Yes. So you're becoming
travel advisor. That's what I'm hearing.
759
00:54:30.360 --> 00:54:32.320
Now, I'm becoming an ev advisor. And you can make it to Phoenix,
760
00:54:32.400 --> 00:54:36.480
you can't make it back, and
most evs you'll have to stopping eloy
761
00:54:36.559 --> 00:54:39.639
and for fifteen minutes. I mean, it tells you on the thing right
762
00:54:39.960 --> 00:54:43.360
absolutely riding your car. Yeah,
I tell you on the car. And
763
00:54:43.519 --> 00:54:45.880
when I went to Phoenix, Dean, I went to Phoenix for a meeting
764
00:54:45.960 --> 00:54:47.320
and coming back it said you can
get to your house, you'll have three
765
00:54:47.360 --> 00:54:52.239
percent of your battery left. I'm
not that guy, Okay, I'm not
766
00:54:52.360 --> 00:54:54.760
that guy that's gonna bet that I'll
have three percent of my battery left.
767
00:54:55.199 --> 00:55:00.719
I'm stuck in the middle on Grant
Road somewhere dead. Repairs on your car,
768
00:55:00.800 --> 00:55:02.519
right since you got it? Repairs? Yeah, on your Tesla?
769
00:55:02.719 --> 00:55:05.639
No, oh yeah, you've had
none. I think they had like a
770
00:55:05.679 --> 00:55:09.159
bumper replaced. Oh no, I
had a wreck. Yeah, repairs.
771
00:55:09.400 --> 00:55:13.719
So you see, there's a lawsuit
now, class action lawsuit going out that's
772
00:55:13.719 --> 00:55:16.599
going to be re ignited from two
thousand. They got thrown out, but
773
00:55:16.639 --> 00:55:22.360
now it's back because they've combined five
lawsuits by vehicle owners who have paid for
774
00:55:22.440 --> 00:55:25.320
Tesla repairs since March of twenty nineteen. Okay, they're trying to say that
775
00:55:25.599 --> 00:55:32.280
Tesla has monopolized the repairs and they're
just thousands of prices. It's just skyrocking
776
00:55:32.320 --> 00:55:37.079
prices, and they're saying Tesla's got
to pay them back. I wouldn't be
777
00:55:37.119 --> 00:55:40.440
shocked at that, because when I
had my fender bender, I was required
778
00:55:40.480 --> 00:55:46.039
to go to a specific body shop. There are only a couple of approved
779
00:55:46.079 --> 00:55:50.639
Tesla body shops in Tucson, and
that's because you have to jump through some
780
00:55:50.760 --> 00:55:53.119
hoops and dealing. Like you just
said, maybe you have to get you
781
00:55:53.199 --> 00:55:57.400
know, we get lined up for
a little kickback or whatever. I don't
782
00:55:57.400 --> 00:56:01.079
want to use that word, but
must have a deal with them. And
783
00:56:01.239 --> 00:56:05.480
maybe Tesla's deal with them is they
know that they'll do a good job.
784
00:56:05.639 --> 00:56:08.000
Maybe that's all there is to it. When you had your little fender bender
785
00:56:08.079 --> 00:56:12.440
type thing, we thought that it
was going to be super minimal expense,
786
00:56:12.559 --> 00:56:15.559
right, And yes, it ended
up being pretty costly for you. Yeah,
787
00:56:15.800 --> 00:56:19.800
I slowly, honestly, slowly backed
about five miles an hour back into
788
00:56:19.800 --> 00:56:23.519
a neighbor's wall and pushed my bumper
up into my rear quarter panel and because
789
00:56:23.599 --> 00:56:28.639
the rear quarter panel is aluminum,
it buckled. Hey question for you,
790
00:56:28.800 --> 00:56:32.039
maybe you know so Fisker they're going
bankrupts. What happens to any of the
791
00:56:32.119 --> 00:56:36.679
Fisker owners out there if they get
into the wreck. We've warned about this
792
00:56:37.440 --> 00:56:42.000
for months on this show. Why
if you're going to buy an electric vehicle,
793
00:56:42.159 --> 00:56:45.960
if you roll the dice with a
company that has already declared bankruptcy once,
794
00:56:46.840 --> 00:56:52.400
now they're declaring bankruptcy a second time. It's it seems odd to me.
795
00:56:52.480 --> 00:56:54.320
We did see a Fisker up at
Alan Conto and it was kind of
796
00:56:54.320 --> 00:56:59.519
cool looking. But the Fisker Ocean, I believe was called right yeah,
797
00:57:00.000 --> 00:57:01.119
look their website. They actually had
cool cars. Yeah, it's nice.
798
00:57:01.360 --> 00:57:07.079
They just couldn't secure a large funding
series. That's a file for bankruptcy.
799
00:57:07.280 --> 00:57:12.000
No, and I think I again. I leased my I leased my car
800
00:57:12.119 --> 00:57:15.800
because I was concerned about the changes
in technology, and I was concerned about
801
00:57:16.400 --> 00:57:22.440
increased competition dropping prices. Well,
prices have plummeted. And even without the
802
00:57:22.519 --> 00:57:25.679
new technology, if they come along
with a new technology that let's say everybody
803
00:57:25.719 --> 00:57:30.400
all of a sudden decides solid state
batteries are the way to go. My
804
00:57:30.599 --> 00:57:34.079
car with a lithium ion battery becomes
a you know, eight year old cell
805
00:57:34.119 --> 00:57:38.000
phone. It seems like it would
have no A couple of thoughts. You
806
00:57:38.360 --> 00:57:43.360
are you? We don't ev good? All right? So the advertising revenue
807
00:57:43.440 --> 00:57:52.360
worldwide the top two companies What are
the two companies advertising revenue worldwide? Facebook
808
00:57:52.599 --> 00:57:57.559
and Google? Google? I think
yep, those are correct? Now Meta
809
00:57:57.920 --> 00:58:00.079
which is Facebook. Meta is a
family of app. So you have Facebook,
810
00:58:00.159 --> 00:58:05.280
Instagram, WhatsApp, and Messenger,
where Google just has Google Search they
811
00:58:05.360 --> 00:58:10.360
dominates, right. Yeah, well
technically Google dominates the search engine Google more
812
00:58:10.559 --> 00:58:15.159
than mena. Yeah, and especially
since Google technically owns YouTube. You want
813
00:58:15.159 --> 00:58:17.880
to add YouTube ads on top of
Google. Yeah, they have more together
814
00:58:19.199 --> 00:58:22.320
if you add those two together.
So but I just found that interesting because
815
00:58:22.440 --> 00:58:28.880
I was thinking about Chat GPT this
week and if you've I've used Chat GPT
816
00:58:29.000 --> 00:58:31.320
a lot, and I've started realizing
a couple of things. One of the
817
00:58:31.400 --> 00:58:37.159
things is it's it's Google on steroids. It to a point where if you
818
00:58:37.760 --> 00:58:40.800
get comfortable with Chat, there's no
reason to use Google for anything. I
819
00:58:40.880 --> 00:58:44.719
mean, what you do with Google
is you search something and then you have
820
00:58:44.880 --> 00:58:49.400
to normally click into a website to
find the answer. True. Now Chat
821
00:58:49.519 --> 00:58:52.840
just does that for you in seconds. Now, a question for the listeners
822
00:58:52.840 --> 00:58:57.239
out there, if a person wanted
to go to chatb was it GBT,
823
00:58:57.760 --> 00:59:01.480
GPT, GPT, chat GPT,
how would you go to it? You
824
00:59:01.639 --> 00:59:05.840
just you literally will just Google it
and then you'll find the link and go
825
00:59:06.000 --> 00:59:07.599
in. You can sign up for
free and you'll have access to the three
826
00:59:07.679 --> 00:59:12.880
point five version, which is their
second latest update. And if you pay,
827
00:59:13.000 --> 00:59:15.239
which I've paid for it, it's
like a monthly scription like twenty bucks
828
00:59:15.239 --> 00:59:19.119
a month. Then you get the
up the most up to date four to
829
00:59:19.159 --> 00:59:22.800
oh. But then also you get
all the apps. So there's all these
830
00:59:22.840 --> 00:59:24.840
different kinds of apps that you can
use chat GPT on. For example,
831
00:59:24.880 --> 00:59:28.159
if you want to say, hey, find me a trail in two soon,
832
00:59:28.239 --> 00:59:30.199
that's about four to six miles,
not too much elevation, and it's
833
00:59:30.239 --> 00:59:34.920
gonna be shady. It will find
a trail on my all Trails app and
834
00:59:34.960 --> 00:59:37.840
then show me the trail and then
I can send it to my watch and
835
00:59:37.880 --> 00:59:38.920
I can do it. And on
top of that, it's checking the weather
836
00:59:39.000 --> 00:59:43.159
for you, right yeah, I
mean you can ask you what is the
837
00:59:43.239 --> 00:59:45.920
weather prediction. It's going to check
five different sites for you, you know
838
00:59:45.960 --> 00:59:50.239
what I mean. You find it
far superior to Google, Yes, And
839
00:59:50.320 --> 00:59:52.559
I think people will figure this out
over a period of time. It takes
840
00:59:52.599 --> 00:59:57.440
a while for it to be introduced
and familiarized and for it to get the
841
00:59:57.480 --> 01:00:00.840
network effect it needs. But I
really see it. The only other competitor
842
01:00:01.199 --> 01:00:06.960
on this space is cloud uh C
A C L A U D E.
843
01:00:07.400 --> 01:00:12.119
And that's the one that is built
by Anthropic. Anthropic is one of the
844
01:00:12.199 --> 01:00:17.679
AI companies and they're backed by like
Amazon and I think Google Ventures also backs
845
01:00:17.760 --> 01:00:23.920
them. And so Microsoft is in
open ai and who's behind chad GP open
846
01:00:24.000 --> 01:00:30.119
ai, which is Microsoft owns a
part of open ai okay, and the
847
01:00:30.760 --> 01:00:34.159
other investors in open ai as well. Yeah, I mean, for example,
848
01:00:34.280 --> 01:00:36.639
Elon Musk was one of the first
creators of open ai, right,
849
01:00:36.679 --> 01:00:39.440
and then he he left. That's
what they're going to be integrating into the
850
01:00:39.480 --> 01:00:44.880
Apple phones. And that's what,
Yes, that's gonna be. It's gonna
851
01:00:44.880 --> 01:00:49.599
be like your Seri is going to
use open ais and it makes total sense,
852
01:00:49.599 --> 01:00:52.280
I mean, series awesome. But
there's some shortfalls of Siri, right,
853
01:00:52.320 --> 01:00:55.920
we've all seen it. But all
those short falls are answered with Chat.
854
01:00:57.360 --> 01:01:00.159
And I don't know if you guys
seen the new voice recognition on like
855
01:01:00.440 --> 01:01:06.679
Apple, but it is by far
way upgraded. Oh Siri. Yeah,
856
01:01:07.199 --> 01:01:09.400
like even to the point where you
say like m or like little things.
857
01:01:09.480 --> 01:01:14.079
It picks it up and says it
perfectly. So it drives me nuts.
858
01:01:14.119 --> 01:01:15.440
I'm trying to, you know,
do the voice texting and stuff. It
859
01:01:15.599 --> 01:01:20.599
just doesn't understand it. It does, really, I would try it again
860
01:01:20.760 --> 01:01:24.639
after this last updated and it's here's
worse than I do. We'll check it
861
01:01:24.719 --> 01:01:30.599
together. We'll check it together.
So Chat g Is and George Peas and
862
01:01:30.679 --> 01:01:34.239
Paul Teas and Tom that's the leading. That's it. You just Google Chat
863
01:01:34.400 --> 01:01:37.119
GPT. Yeah, and I had
an interesting conversation with chat GBT. I
864
01:01:37.199 --> 01:01:40.800
said, anthropic has its own version, which one's better, right? And
865
01:01:40.880 --> 01:01:44.880
I asked chat that and it lists
all pros and cons for each of them,
866
01:01:44.920 --> 01:01:47.599
but the one that really stood out
says he said, Anthropic Cloud's AI
867
01:01:47.920 --> 01:01:52.400
is way more safe and reliable,
not well, not reliable, but more
868
01:01:52.480 --> 01:01:57.559
safe and ethical. And they have
more philosophical concerns around the creation of it,
869
01:01:58.000 --> 01:02:01.320
whereas it literally said open Eyes is
more about data and it wants to
870
01:02:01.360 --> 01:02:06.760
get you the best answer available,
So there is a lot more thought and
871
01:02:07.519 --> 01:02:12.119
you know, ethics being involved in
a thropics creation of their AI bought compared
872
01:02:12.119 --> 01:02:15.800
to open ai, and that's coming
straight from open AI's chat bot. Chat
873
01:02:15.159 --> 01:02:21.239
GPT's a lot of could deal with
an anthropic Yeah, I mean I don't
874
01:02:21.960 --> 01:02:24.599
right now. I think it's it's
a it's a little behind GPT GPT.
875
01:02:24.760 --> 01:02:28.840
Can you can even misspell something and
it will know what you've tried to say?
876
01:02:30.280 --> 01:02:32.639
There is app Yeah, there is. Do you hear the way that
877
01:02:32.679 --> 01:02:37.840
Todd's talking about chat as if it
has a conscience. It's kind of creepy.
878
01:02:38.360 --> 01:02:42.039
Well, I think he probably doesn't
have a conscience they might be dating.
879
01:02:42.119 --> 01:02:46.320
I don't know. I've learned more
probably from chat in the last two
880
01:02:46.480 --> 01:02:50.880
three months. All your teachers,
well, definitely any of my teachers.
881
01:02:51.360 --> 01:02:53.920
I mean, it's amazing the things
it can it can teach you, show
882
01:02:54.000 --> 01:02:57.960
you, and the things that you
can experiment with it. I saw a
883
01:02:58.039 --> 01:03:01.760
report of h on Friday. The
people in the early twenties are having a
884
01:03:01.840 --> 01:03:07.880
hard time finding love because, according
to a relationship therapist. Tell me if
885
01:03:07.920 --> 01:03:15.880
this sounds familiar, dating apps have
made them too picky. You think I
886
01:03:15.960 --> 01:03:20.400
could see that? Yeah? Unreal, Yeah, just unreal. Expectations so
887
01:03:20.559 --> 01:03:23.039
easy just to swipe, say no, just never see you again. See,
888
01:03:23.159 --> 01:03:25.440
Like, I don't think it's just
dating apps though, it's definitely social
889
01:03:25.440 --> 01:03:29.159
media and social media because like when
you see someone on social media, they
890
01:03:29.199 --> 01:03:30.639
always look better than what they look
like in real life. Like you're a
891
01:03:30.679 --> 01:03:35.079
highlight of life, right, Like
you're only going to show what's great about
892
01:03:35.119 --> 01:03:37.000
your life on social media. No, not a lot of people show what's
893
01:03:37.039 --> 01:03:40.480
bad about any good alter pictures to
make yourself look bad, filters and all
894
01:03:40.599 --> 01:03:44.480
kinds of crazy stuff. You don't
think you've been too picky at this point?
895
01:03:44.559 --> 01:03:45.480
Chid, No, I think I
am being too big. I don't
896
01:03:45.480 --> 01:03:47.480
think it's just because of dating apps. It's probably a lot more to do
897
01:03:47.559 --> 01:03:52.480
with social media. To be honest, I hear you. I hear you.
898
01:03:52.639 --> 01:03:55.800
Best buy the often maligned on this
show. I knew you were going
899
01:03:55.840 --> 01:04:00.239
to talk about it. Up five
percent was sixteen month high on month day
900
01:04:00.239 --> 01:04:05.719
after UBS joined. The course of
upgrade seeing multiple paths nice price. Target
901
01:04:05.760 --> 01:04:11.480
one oh six stock has been getting
much maligned on this show. It's only
902
01:04:11.840 --> 01:04:15.199
advanced to what twenty percent in the
last three weeks. Why are we getting
903
01:04:15.199 --> 01:04:16.639
excited over a four percent move the
other day? Yeah, you did you
904
01:04:16.760 --> 01:04:20.199
buy it? No? No,
four percent move? What what? It's
905
01:04:20.280 --> 01:04:24.320
ninety and this guy to Target at
one o six? No, they jumps
906
01:04:24.400 --> 01:04:28.599
four percent though four percent moves a
nice movement on top of the ten percent.
907
01:04:29.480 --> 01:04:32.480
It's crazy, Dave. I was. I was telling Dave about Novo
908
01:04:32.599 --> 01:04:38.079
Nord this other day. It jumped
maybe four or five percent one day I
909
01:04:38.199 --> 01:04:40.280
told him about it. He says, why are you talking about that?
910
01:04:40.360 --> 01:04:44.239
That's boring four and a half percent? Cool? Right home about it again?
911
01:04:44.400 --> 01:04:48.239
You're coming back to me in a
public a public forum as opposed to
912
01:04:48.280 --> 01:04:51.880
you and be in my the privacy
of my office. You got fill up
913
01:04:51.880 --> 01:04:57.000
to the up to the whole town. That's really nice, buddy, Really,
914
01:04:57.199 --> 01:05:00.400
you know what McDonald this is speaking
of AI. He could have chat
915
01:05:00.559 --> 01:05:04.559
GBT and all this crap. McDonald's
is changing the course on their artificial intelligence
916
01:05:04.559 --> 01:05:09.320
point. They got fast food GI
will get rid of it. Get this.
917
01:05:09.400 --> 01:05:13.119
They're going to end a test run
with IBM that they had in one
918
01:05:13.159 --> 01:05:17.000
hundred restaurants. The so called automated
order taker will be shut off no later
919
01:05:17.119 --> 01:05:23.119
than July twenty six, according to
a memo received by franchisees. Two sources
920
01:05:23.199 --> 01:05:29.679
familiar with this technology told CNBC that
among its challenges, it has issues interpreting
921
01:05:30.000 --> 01:05:32.800
different accents and dialects. Oh I'm
sure, thank god. I can't stand
922
01:05:32.840 --> 01:05:35.559
that thing when I go to McDonald's
or any driver, and that's affecting order
923
01:05:35.639 --> 01:05:39.760
accuracy. So no, they're not
talking about the touch screens. No,
924
01:05:39.840 --> 01:05:41.840
I'm not talking about the touch screens
either. It's when you pull up to
925
01:05:41.880 --> 01:05:43.960
the drive through and it's like,
Hi, can I take your order?
926
01:05:44.039 --> 01:05:45.719
You think it's the real person.
You start telling them the order and it's
927
01:05:45.760 --> 01:05:49.360
like all right, walcome McDonald's,
can I Oh my gosh, I have
928
01:05:49.440 --> 01:05:51.920
to repeat the whole order for my
whole carp Fine, here it is.
929
01:05:53.760 --> 01:05:57.119
I think what this says to me, though, is not all AI is
930
01:05:57.280 --> 01:06:00.119
going to work. Well, that's
also I had to McDonald's come back to
931
01:06:00.199 --> 01:06:03.760
it. Well, I think I
don't. I don't see how many AI
932
01:06:03.880 --> 01:06:09.599
opportunities you have, but more than
anything we know. For example, we
933
01:06:09.679 --> 01:06:13.400
just talked about voice recognition like it
was terrible ten years ago. It was,
934
01:06:13.480 --> 01:06:15.000
it was created, it was a
thing, but it wasn't great.
935
01:06:15.119 --> 01:06:18.719
Now it's one hundred percent better.
Right, So just because something isn't gonna
936
01:06:18.719 --> 01:06:23.840
work now doesn't mean it. Sometimes
you just need another technological advancements to come
937
01:06:23.880 --> 01:06:28.119
first before it can get really good. Voice recognition will never help people with
938
01:06:28.599 --> 01:06:31.840
thick accents. My mom cannot.
Nobody understands my mom when she's going through
939
01:06:31.840 --> 01:06:36.159
a drive through. You gotta tell
her three or four times she's a Mexican.
940
01:06:36.239 --> 01:06:40.599
She has a thick Mexican accent.
Yeah. I disagree with that,
941
01:06:40.840 --> 01:06:44.679
but that's your opinion. You disagree
in what way. I think AI will
942
01:06:44.800 --> 01:06:47.320
have the ability to even distinguish accents. I think ultimately it'll be able to
943
01:06:47.360 --> 01:06:50.519
do. It's able to create videos
that you put in English and then make
944
01:06:50.559 --> 01:06:54.440
it into Spanish. So why wouldn't
it be able to eventually do that?
945
01:06:55.159 --> 01:07:00.119
My just seems reasonable to a friend
of mine's daughter did a doctoral thesis and
946
01:07:00.880 --> 01:07:05.199
he went, at your urging,
I believe, to Chat GBT and said,
947
01:07:05.280 --> 01:07:09.199
summarize, Oh I did he gave
he gave you did it for you?
948
01:07:09.320 --> 01:07:12.119
Yeah, I did it for him. Explain that he was a fifty
949
01:07:12.199 --> 01:07:15.119
three page thesis. And I just
I said, send me the pdf.
950
01:07:15.480 --> 01:07:16.519
And I said, and I sent
it to Chat. I said, hey,
951
01:07:16.840 --> 01:07:20.880
Chat, read the PDF and summarize
this for me. And it created
952
01:07:20.920 --> 01:07:26.679
a beautiful one page summary key points
what it actually talked about, what its
953
01:07:26.760 --> 01:07:30.840
recommendations was summarize it all very clearly
and concisely. And I didn't, you
954
01:07:30.320 --> 01:07:32.679
know, didn't have to read fifty
three pages to understand what it was.
955
01:07:33.239 --> 01:07:38.199
Just boom boom. The students in
the class that she was in were using
956
01:07:38.320 --> 01:07:42.960
it to do their thesis, right, was irritating the heck goud of everybody.
957
01:07:43.039 --> 01:07:45.760
Yeah, but that that's a fascinating
that's a fascinating Like we've talked on
958
01:07:45.800 --> 01:07:49.440
the show, there's an AI chat
bot that helps your writing. That maybe
959
01:07:49.639 --> 01:07:54.840
was produced by chat GPT to make
it sound more human. So there's a
960
01:07:54.920 --> 01:08:00.440
humanizer bought phenomenal just phenomenal technology.
And it's kind of like the Internet.
961
01:08:00.480 --> 01:08:02.559
The Internet was probably the greatest and
the worst thing to come out of the
962
01:08:02.679 --> 01:08:06.440
twenty out of the last century,
and this one it might be AI And
963
01:08:06.519 --> 01:08:10.880
it's crazy. With the Internet,
you didn't know half the things that was
964
01:08:10.960 --> 01:08:13.039
going to come out of it.
And that's where we are right now.
965
01:08:13.360 --> 01:08:17.079
I'm excited to download the CHATEGYPT and
check it out. Oh, I mean
966
01:08:17.119 --> 01:08:19.640
that's how I made your song,
right? Yeah? No, I like
967
01:08:19.720 --> 01:08:24.279
technology. You know. I was
one of the first cell phones for people
968
01:08:24.359 --> 01:08:27.600
that don't know and they want to
hear Dave's electric EV song. It's it's
969
01:08:27.640 --> 01:08:32.199
amazing. We'll set it to a
Yeah. There's actually an app you can
970
01:08:32.279 --> 01:08:35.520
go to and you can put in
your subject and the name of the person
971
01:08:35.640 --> 01:08:39.479
that you're doing, a genre of
music, and it creates a little two
972
01:08:39.520 --> 01:08:43.600
minute songs for it within seconds.
It's just nuts. Yeah, it's just
973
01:08:43.800 --> 01:08:47.920
nuts. Broadcom speaking of a technology
Broadcom, the ship makers sword to get
974
01:08:47.920 --> 01:08:53.600
another new all time high after they're
strong Ernie's report the week of the tenth
975
01:08:54.199 --> 01:08:58.399
multiple upgrades. It dock jump twenty
five percent in five days. Wow,
976
01:08:58.920 --> 01:09:00.800
before some pullbacks. That reminds me
of Adobe. Adobe had a really good
977
01:09:00.840 --> 01:09:03.439
week as well, right they did, they did. Do you have that
978
01:09:03.520 --> 01:09:06.600
earnings report on you not? Do
you? Okay? I mean, I
979
01:09:06.720 --> 01:09:10.479
know they they killed it out.
What I think they jumped like ten percent
980
01:09:10.520 --> 01:09:14.760
after they reported earning. So the
one that that really made made me pay
981
01:09:14.800 --> 01:09:18.920
attention is BYD. You know,
the Warren Buffett's conglomerate. Has they sold
982
01:09:18.960 --> 01:09:26.600
an additional one point three million shares
of BYD, b reducing they're holding from
983
01:09:26.640 --> 01:09:30.960
seven percent to six point nine percent. Berkshark get this, Berkshiw's original investment
984
01:09:31.039 --> 01:09:34.319
in BYD And it was Charlie Monger, who has since passed. It was
985
01:09:35.319 --> 01:09:41.840
he was was actually told by a
broker in San Francisco. Charlie was that
986
01:09:41.920 --> 01:09:46.640
he ought to look into this,
and and he bought two twenty five million
987
01:09:46.800 --> 01:09:57.000
shares at a dollar apiece. Stock
currently trades over two hundred dollars two twenty
988
01:09:57.079 --> 01:10:01.479
five million shares at a book.
Now this wasn't two thousand and eight,
989
01:10:01.560 --> 01:10:04.319
so you know, in all fairness, Yeah, so this is the we're
990
01:10:04.319 --> 01:10:08.159
talking about the electric car company yd
Yeah, okay, yeah. I had
991
01:10:08.199 --> 01:10:11.199
a client commanded my office when I
was with the Futton back in the in
992
01:10:11.319 --> 01:10:14.319
the early eighties, and he said
he needed to get some money out of
993
01:10:14.399 --> 01:10:17.560
his account because he had a friend
who was starting up a new company and
994
01:10:17.680 --> 01:10:21.800
he was going to offer him fifty
thousand shares for twenty five grand, and
995
01:10:21.880 --> 01:10:24.640
he said, I want to help
the guy out. I don't know it's
996
01:10:24.640 --> 01:10:27.800
ever going to mount anything or not. So he took the twenty five grand
997
01:10:27.840 --> 01:10:31.920
and bought his fifty thousand shares of
Price Club, which is now Costco.
998
01:10:33.039 --> 01:10:36.800
I'm sure he doesn't have it anymore, have all of it, But yes,
999
01:10:38.159 --> 01:10:40.920
Mugger and all them still I know
Mugger's not here anymore, but they
1000
01:10:41.000 --> 01:10:43.960
still own all those shares. They
do, though they don't know them all
1001
01:10:44.399 --> 01:10:46.439
they own. They've been selling them
steadily, dyling, but they still own
1002
01:10:46.600 --> 01:10:48.960
I don't know, probably two hundred
million years. Yeah, because that's like
1003
01:10:49.000 --> 01:10:54.520
forty billion dollars. Seas gotta be
byd It's byd DF, I think,
1004
01:10:54.640 --> 01:10:58.640
right, that's actual ticker. It's
an OTC, like for in America it's
1005
01:10:58.640 --> 01:11:01.720
a oh BYF you So you're saying
that this name of the company is by
1006
01:11:01.760 --> 01:11:05.399
D. Right, you're saying the
symbol is b y D d F because
1007
01:11:05.399 --> 01:11:09.239
it's I think it's pretty sure it's
on the OTC. Yeah, oh yeah,
1008
01:11:09.359 --> 01:11:13.640
F is for foreign, right for
foreign because it is obviously a foreign
1009
01:11:13.680 --> 01:11:15.000
Not sure what the D stands for
or something. Not sure, but I
1010
01:11:15.319 --> 01:11:18.079
think if people were trying to look
at by D, there's a different stock
1011
01:11:18.560 --> 01:11:23.000
with b y D and that's not
what we're talking I think beyond limited or
1012
01:11:23.079 --> 01:11:26.880
no, it's BOYD Gaming corporate boy
Gaming. B y b y D is
1013
01:11:26.960 --> 01:11:30.720
boy DOC. Symbol is not the
car company in China, right. Just
1014
01:11:30.000 --> 01:11:32.479
for the listeners that might get confused, No, they looked it up.
1015
01:11:32.600 --> 01:11:36.159
That's super important. Thank you.
To build your dreams, Build your dreams.
1016
01:11:36.199 --> 01:11:39.840
Is that what it's for? Yeah? Cool, Well he certainly built
1017
01:11:39.920 --> 01:11:43.960
Charlie Munger's dreams. Oh well,
yeah, the rest of peace. We
1018
01:11:44.079 --> 01:11:45.880
appreciate your listening. We're coming to
the end of this segment. We've got
1019
01:11:45.960 --> 01:11:50.199
two more segments to come, lots
of good information ahead. Thanks once again
1020
01:11:50.239 --> 01:11:57.399
for joining us on this cool desert
weekend. We'll be right back. Welcome
1021
01:11:57.439 --> 01:11:59.720
back to the Money Matter Show.
My name is Tod Lick. Here what
1022
01:11:59.800 --> 01:12:05.880
the Astroborsini, David sherwib and Dylan
Greenberg had an interesting take on cheap fakes
1023
01:12:05.880 --> 01:12:11.600
and deep fakes this week. Okay, apparently there's a couple of differences cheap
1024
01:12:11.640 --> 01:12:15.520
fakes and deep fakes. Yeah,
I didn't know there was a difference.
1025
01:12:15.640 --> 01:12:17.479
Never even heard of a cheap fake. But we had a nice argument this
1026
01:12:17.560 --> 01:12:20.920
week about whether cheap fake is a
thing. Apparently, a cheap fake is
1027
01:12:20.960 --> 01:12:25.199
just a video clip where the audio
is edited to make someone appear to say
1028
01:12:25.279 --> 01:12:28.359
something that they did not actually say, where a deep fake is a video
1029
01:12:28.399 --> 01:12:31.720
where an individual's face is seamlessly swapped
with another's, or an audio clip is
1030
01:12:31.800 --> 01:12:38.079
generated perfectly to mimic someone's voice.
We're talking about AI here obviously, Yeah,
1031
01:12:39.000 --> 01:12:43.039
where you will see a person up
there saying something that they would never
1032
01:12:43.159 --> 01:12:46.560
say, right. I mean,
this week it was about that KJP I
1033
01:12:46.600 --> 01:12:50.920
think that's her name at the Press
Secretary of the White House saying that Biden
1034
01:12:51.319 --> 01:12:56.800
his whole video of looking out into
space was a cheap fake because of you
1035
01:12:57.239 --> 01:13:00.600
expand the image, you'd really see
if there is someone else landing over there.
1036
01:13:00.000 --> 01:13:06.199
But it's different than deep fake.
Apparently it wasn't just lost in thought
1037
01:13:06.359 --> 01:13:10.680
or compared. It's like a news
headline that they just pick and choose what
1038
01:13:10.720 --> 01:13:13.920
they want to say so they can
get clicks. Speaking it's politics. Trump
1039
01:13:14.000 --> 01:13:19.399
Media and Technology Group got rough months. Rough month. One of the primary
1040
01:13:19.479 --> 01:13:24.319
reasons is that they just ided issue
a bunch more shares, which I'm thinking
1041
01:13:24.399 --> 01:13:27.960
has to be one of the greatest
fundraisers in history. You know, just
1042
01:13:28.119 --> 01:13:30.600
printed a bunch of more shares and
you end up with tens of millions of
1043
01:13:30.680 --> 01:13:35.359
dollars. Stock is down forty five
percent this month, and I would argue
1044
01:13:35.399 --> 01:13:40.399
it probably doesn't have much to do
with Donald Trump. It's getting crushed.
1045
01:13:40.640 --> 01:13:44.439
No, it's just not making money, and it's not company doesn't have had
1046
01:13:44.560 --> 01:13:47.039
very little revenue, very no earnings. When we say that intrinsic value was
1047
01:13:47.119 --> 01:13:54.560
like sixty maybe I think you're right. It's like one of those twenty twenty
1048
01:13:54.600 --> 01:13:58.760
stocks that just went to the moon
for no reason and now it's coming back
1049
01:13:58.800 --> 01:14:01.680
down to earth at gainstop. Down
eighteen percent this week. Yeah, the
1050
01:14:02.079 --> 01:14:06.159
Trump Media and Technology Group. I've
got a couple of clients that the trade
1051
01:14:06.199 --> 01:14:10.840
it, you know, and they're
not they're not interested in owning the company.
1052
01:14:11.239 --> 01:14:13.800
They're interested. When it drops down
in the twenties, they buy it,
1053
01:14:13.840 --> 01:14:16.119
and then jumps up into the forties, they sell it, drops down
1054
01:14:16.199 --> 01:14:19.119
the twenties again, they buy it
back, back and forth it goes.
1055
01:14:20.359 --> 01:14:26.239
Apple interesting on Monday. This is
kind of interesting because it was a couple
1056
01:14:26.319 --> 01:14:30.960
of years ago when the buy now, Pay later craze took off and everybody
1057
01:14:31.079 --> 01:14:35.840
had to be in that space.
Apple on Monday announced that they've stopped issuing
1058
01:14:36.000 --> 01:14:42.000
loans through Apple pay Later. Apple's
going to stop doing it the buy now,
1059
01:14:42.079 --> 01:14:45.600
Pay Later program they launched just last
year. Now last week they announced
1060
01:14:45.640 --> 01:14:49.800
a partnership with the buy now pay
later company Affirm. So what I'm thinking
1061
01:14:50.000 --> 01:14:55.600
is now apparently they're more comfortable with
the third party taking those risks and they're
1062
01:14:55.680 --> 01:15:00.159
done. Yep. Sounds like we're
buying and not paying. Yeah, because
1063
01:15:00.199 --> 01:15:03.920
there are some risk it's not a
risk free deal. And then they found
1064
01:15:03.960 --> 01:15:08.000
out if the economy were to dip
a little bit, there's an awful lot
1065
01:15:08.039 --> 01:15:11.399
of folks out there that would like
to eat before they want to pay their
1066
01:15:11.880 --> 01:15:15.119
bill. But also we know that
there's not interest on a lot of these
1067
01:15:15.159 --> 01:15:18.000
things. So how they get paid
is through a merchant right and So in
1068
01:15:18.159 --> 01:15:21.600
order for that whole business model of
work, you need people to keep using
1069
01:15:21.680 --> 01:15:27.520
that credit so you keep getting those
merchant fees that pays for that outlet of
1070
01:15:27.920 --> 01:15:30.800
for like half a percent of transaction, I think it's a little more than
1071
01:15:30.840 --> 01:15:33.600
like one and a half percent.
That adds up. It's kind of like
1072
01:15:33.640 --> 01:15:36.079
credit card company, where the merchant's
paying for it. Yeah, but you
1073
01:15:36.159 --> 01:15:40.199
need, like a credit card company
relies on people using the card. Right,
1074
01:15:40.279 --> 01:15:42.800
if we all stop using our card
and we just acute our balance and
1075
01:15:42.880 --> 01:15:45.000
paid it off, that's that would
be really hurtful speaking of a credit card
1076
01:15:45.000 --> 01:15:48.479
company can have affirm Actually it was
at the outlet mall up in Twin Peaks
1077
01:15:48.560 --> 01:15:53.439
the other day. Every single sign
every single store outside how to sign a
1078
01:15:53.560 --> 01:15:56.399
firm buy now, pay later,
you could use this here. That was
1079
01:15:56.520 --> 01:15:59.319
kind of interesting. Every single store, every single store. And it wasn't
1080
01:15:59.439 --> 01:16:02.039
like pace it outside every single story. It was like the mall was advertising
1081
01:16:02.079 --> 01:16:04.880
it interesting, you could use a
firm, you could use buy now pay
1082
01:16:04.960 --> 01:16:11.760
later here. Interesting. And every
business had sign on the door. No,
1083
01:16:12.039 --> 01:16:16.960
but the mall was advertising saying that
at every store here has this Wow,
1084
01:16:17.039 --> 01:16:19.640
So they got it. They got
everybody on board. Yeah, that
1085
01:16:19.800 --> 01:16:24.479
ghost ghost credit. That's a lot
of zero interest too. I've seen that
1086
01:16:24.560 --> 01:16:27.760
online when I'm checking out on things. It's saying you can do four equal
1087
01:16:28.279 --> 01:16:31.880
zero interest payments through a firm or
whatever if you Because they're not making their
1088
01:16:31.880 --> 01:16:35.560
money through the interest like like so
many other I'm pretty sure that if you're
1089
01:16:35.600 --> 01:16:39.920
laid on your payments, they will
start charging interest eventually, I would make
1090
01:16:39.960 --> 01:16:44.399
sense. Start they charged late payments, the late fees as opposed to interest
1091
01:16:44.439 --> 01:16:49.560
payments. Disney has been struggling ever
since they uh the activist investor was beaten
1092
01:16:50.159 --> 01:16:54.279
that beaten down by the shareholders.
What did they finished the week? Uh
1093
01:16:54.600 --> 01:16:59.359
on one on one one or two. Monday they were up after they announced
1094
01:16:59.359 --> 01:17:03.319
that their new move, their new
animated movie, was the highest opening weekend
1095
01:17:03.399 --> 01:17:06.680
for any animated movie in history.
Yeah. I heard a lot of people
1096
01:17:06.880 --> 01:17:10.880
go out and see Inside Out.
Yeah, and they need more and more
1097
01:17:10.920 --> 01:17:13.199
of those. Well, they need
more original movies. And I think that's
1098
01:17:13.239 --> 01:17:16.439
what Bob Iger said. They're going
towards. They're going away from remakes and
1099
01:17:16.520 --> 01:17:21.119
all that stuff because the nostalgia aspects
kind of dying off because they just overdone
1100
01:17:21.159 --> 01:17:25.119
it. They have this really weird
original movie coming out later this year about
1101
01:17:25.159 --> 01:17:28.600
a robot being a mom. I
was like, huh, you guys are
1102
01:17:28.640 --> 01:17:31.359
really leaning into this whole. AI
think, Dave, did you see the
1103
01:17:31.399 --> 01:17:34.479
thing about the Netflix House? What
chance? Yes, that was interesting?
1104
01:17:34.600 --> 01:17:38.000
Shared it with me, but you
going share it with Netflix House is kind
1105
01:17:38.039 --> 01:17:41.000
of gonna be kind of like an
interactive movie theater in a way. For
1106
01:17:41.239 --> 01:17:44.600
the building, it's a building.
You could call it almost a theme park
1107
01:17:44.680 --> 01:17:49.119
if you will. Yeah, yeah, you could go what well, I
1108
01:17:49.159 --> 01:17:53.479
mean a popular show right now is
British Quid. I was gonna have popular
1109
01:17:53.520 --> 01:17:57.319
shows Ridgardson they do a like a
big ball dance out of Queen's Ball,
1110
01:17:57.359 --> 01:18:00.600
I guess is what it's called.
Yeah, on Netflix, and you can
1111
01:18:00.720 --> 01:18:03.760
like actively go dance with the people. I guess inside it's not like an
1112
01:18:03.760 --> 01:18:06.800
example like that. Yeah, Squid
games. I think there's gonna be do
1113
01:18:06.880 --> 01:18:12.600
some of the challenges not real stranger
things. My life and I tripped over
1114
01:18:12.720 --> 01:18:15.680
Bridgerton season one and we watched a
few episodes. My wife goes, you
1115
01:18:15.720 --> 01:18:17.680
know, I don't think i'd ever
tell anybody I watched this, but I
1116
01:18:17.760 --> 01:18:21.720
really like it. Well, now
it's become a big thing a girl went
1117
01:18:21.800 --> 01:18:27.079
through this first two seasons in like
five days. Yeah, I guess I'm
1118
01:18:28.159 --> 01:18:31.680
drama show. I've heard of it
once. It's like it's like old school,
1119
01:18:31.760 --> 01:18:35.000
like English elite, but on top
drama on top of it. It's
1120
01:18:35.039 --> 01:18:39.279
kind of like a Universal Studios type
of deal. Like think about Harry Potter
1121
01:18:39.359 --> 01:18:42.039
World. You could go there and
have butter beer. They're gonna have all
1122
01:18:42.079 --> 01:18:45.119
these menu items that But what this
show, what this is is Netflix going
1123
01:18:45.159 --> 01:18:48.399
away from original content, which they
announced that they would. They're gonna stop
1124
01:18:48.439 --> 01:18:51.680
putting so much money into original content, and they're gonna start trying to make
1125
01:18:51.720 --> 01:18:57.560
money off what they built, like
the Netflix House, like memorabilia, merchandise
1126
01:18:57.640 --> 01:19:00.399
for Stranger things for Bridger ten,
all that stuff. They're trying to start
1127
01:19:00.640 --> 01:19:03.840
making money off that. A different
aspect they I mean, for what five
1128
01:19:03.920 --> 01:19:06.520
years, they've been pouring so much
money in the original content. I don't
1129
01:19:06.560 --> 01:19:09.880
know like it. It seems like
they have a two different, two prong
1130
01:19:09.920 --> 01:19:13.439
approach because at least half of the
things on Netflix was not created by No.
1131
01:19:13.560 --> 01:19:15.920
I mean they buy things, right, they buy catalogs, they buy
1132
01:19:16.079 --> 01:19:18.640
movies, but they don't have a
ton of original no. And I'm just
1133
01:19:18.680 --> 01:19:23.039
saying they they said they are going
away, they're spending. But even like
1134
01:19:23.359 --> 01:19:27.239
for example, like squid Game original
content, Even like squid Games, which
1135
01:19:27.560 --> 01:19:31.079
I believe is the Netflix original,
it was produced not here. I thought
1136
01:19:31.119 --> 01:19:33.840
squid Games came from Korea. It
did, And so I don't know if
1137
01:19:33.840 --> 01:19:36.880
they've bought it and then called it
their original or I think that's what they
1138
01:19:36.920 --> 01:19:41.760
consider they pay for it, but
it's obviously they didn't. If it's a
1139
01:19:41.800 --> 01:19:45.600
Netflix original has a little banner on
it, it can actually made by Netflix.
1140
01:19:45.840 --> 01:19:47.880
Yeah, but I don't know if
that means they bought it or if
1141
01:19:47.880 --> 01:19:51.439
they actually produced it, because it
seems like they buy a lot of the
1142
01:19:51.479 --> 01:19:54.479
shows. I want to say,
you're right on the sense that I think
1143
01:19:54.479 --> 01:19:58.439
they just buy it. It airs
on Netflix only for the first time period
1144
01:19:58.479 --> 01:20:00.159
of time. That's the first place
is a every air, so it's considered
1145
01:20:00.199 --> 01:20:03.359
an original. Yeah. I saw
another interesting thing I'm reading about right now.
1146
01:20:03.399 --> 01:20:06.920
It says they're going to be using
all the empty space in America's malls.
1147
01:20:08.039 --> 01:20:09.600
I thought it was gonna be a
little bit bigger than that. To
1148
01:20:09.640 --> 01:20:14.039
be Oh, they've got a ton
of empty space in America's malls filled up
1149
01:20:14.079 --> 01:20:17.319
with Netflix houses and pickball quirts.
But look at what's happened with foot Hills
1150
01:20:17.359 --> 01:20:23.279
mall. It's just completely right.
You got Whiskey Roads of Barnes and Noble
1151
01:20:23.319 --> 01:20:27.680
and apartments and all kinds of in
the movie theater because people want to go
1152
01:20:27.680 --> 01:20:30.680
to movie theater. Yeah, so
there's there's an awfully a lot of empty
1153
01:20:30.760 --> 01:20:33.439
mall space that could be used and
if something can come up with a brilliant
1154
01:20:33.880 --> 01:20:36.600
idea for that. You don't get
the movie theater thing because I feel like
1155
01:20:36.680 --> 01:20:40.960
like roadhouse cinemas, Yeah, I
would way rather go there than like get
1156
01:20:41.000 --> 01:20:43.359
AMC or something. You know,
I'm not a fan. I'm not a
1157
01:20:43.399 --> 01:20:45.560
fan of the walking around with the
food and you have to can't see it
1158
01:20:45.560 --> 01:20:55.000
because AMC has both. Huh,
you're walking around, So AMC has theaters
1159
01:20:55.119 --> 01:20:57.199
like that where you have their reclienters
and stuff. But if like I saw
1160
01:20:57.199 --> 01:21:00.039
a movie there in the IMAX and
it was just traditional old movie seats,
1161
01:21:00.600 --> 01:21:03.960
nobody's walking around just like that.
It's just for that that experience. I
1162
01:21:04.039 --> 01:21:08.039
mean I'm sitting there going, really, we can't eat and then go to
1163
01:21:08.119 --> 01:21:10.720
a movie, you know, we
can't do those two things. Shepherdly,
1164
01:21:10.880 --> 01:21:13.119
Yeah, trying to eat a cheezberger
in the dark in the movie here,
1165
01:21:13.199 --> 01:21:18.159
yeah, and French fries and then
servers are coming around and it's I like
1166
01:21:18.239 --> 01:21:20.920
to have a milkshake. But either
way, well, I watched my movie.
1167
01:21:20.920 --> 01:21:25.039
I mean, yeah, I like
Roadhouse. I go to Roadhouse,
1168
01:21:25.079 --> 01:21:27.880
but I also go to AMC.
Sometimes it just depends where the movie is.
1169
01:21:27.920 --> 01:21:31.359
But it's funny how during twenty twenty
they were saying AMC, they're all
1170
01:21:31.399 --> 01:21:34.239
out of business. Nobody's ever going
to go to a movie theater again because
1171
01:21:34.239 --> 01:21:39.239
you can get the movie on TV. They have both now now they're putting
1172
01:21:39.239 --> 01:21:42.600
it on streaming and they have it
in theaters, and theaters are still doing
1173
01:21:42.680 --> 01:21:45.720
well, Like people still want the
experience. Yeah, the big screen it
1174
01:21:45.800 --> 01:21:47.279
hasn't gone away. Went away for
about a year and a half and then
1175
01:21:47.319 --> 01:21:50.920
people forget that they couldn't and it's
still something that's fun. How long by
1176
01:21:50.960 --> 01:21:55.840
the stock how long do you not
necessarily MC, I'm saying, how long
1177
01:21:55.920 --> 01:22:00.479
do you think until we get away
with cable? Because that's seems like a
1178
01:22:00.520 --> 01:22:03.600
dying business. That's something that everyone
everyone was right about that that was dying,
1179
01:22:03.720 --> 01:22:06.439
right, But I'm always curious,
like, how long can they hold
1180
01:22:06.479 --> 01:22:11.119
on Once these start bundling like they
are bundling now, Disney, Hulu,
1181
01:22:11.359 --> 01:22:14.640
ESPN, they're all one. You
can start bundling and they are not like
1182
01:22:14.720 --> 01:22:17.880
they're going to start being able to
bundle like Pear Themount Hulu, different ones
1183
01:22:17.920 --> 01:22:20.680
and once if you can start bundling
all of them, if they make that
1184
01:22:20.800 --> 01:22:24.840
deal, cable's dead. And maybe
I'm wrong, but I'd say that the
1185
01:22:24.920 --> 01:22:28.119
majority of people over the age of
forty five have cable. Yes, and
1186
01:22:28.479 --> 01:22:30.960
you're not going it's gonna be around
to them, It's gonna be around.
1187
01:22:30.000 --> 01:22:33.479
And it's like the alarm on your
house, like Todd always talks about.
1188
01:22:33.640 --> 01:22:36.319
Once you have the alarm, you're
not gonna mess with the alarm. I
1189
01:22:36.439 --> 01:22:40.319
have cable. My wife said the
other night. Do we have this channel?
1190
01:22:40.359 --> 01:22:43.279
I said, we have. We
pay them so much money they should
1191
01:22:43.319 --> 01:22:47.479
bring us popcorn and drink. Yes, we have that channel. Uh,
1192
01:22:47.720 --> 01:22:51.119
you know, and I'm not I'm
not gonna change it. You know.
1193
01:22:51.479 --> 01:22:55.640
Oh, I could save fifty bucks
a month if I do this. You
1194
01:22:55.680 --> 01:23:00.159
know, I'm just not motivated to
do that. Hey, there's something in
1195
01:23:00.239 --> 01:23:02.920
life that can confuse all of us. One of the things that confuses me
1196
01:23:03.079 --> 01:23:09.960
is Occidental Petroleum and Warren Buffett's love
affair with his stocks bought it for nine
1197
01:23:10.079 --> 01:23:14.640
days straight. Not only that,
Dylan has unchanged over the last twelve months.
1198
01:23:14.720 --> 01:23:17.760
You ready for this, It's selling
at the same price it was seventeen
1199
01:23:17.960 --> 01:23:24.560
years ago. Seventeen years ago.
He is a value and Warren Buffets bought
1200
01:23:24.640 --> 01:23:30.000
it for nine straight trading days,
driving his stake in this company to twenty
1201
01:23:30.159 --> 01:23:32.920
nine percent. What kind of dividend
did it pay? I guess it does
1202
01:23:33.119 --> 01:23:36.880
not much. No, it's not
a dividend place a percent and a half
1203
01:23:38.039 --> 01:23:41.600
or something. I guess maybe with
all of his byd kind of doesn't matter
1204
01:23:41.680 --> 01:23:43.880
what he does with the rest of
the money. But I mean, he
1205
01:23:44.039 --> 01:23:46.479
was talking about this back in like
twenty one. It's absolutely a mystery to
1206
01:23:46.560 --> 01:23:54.680
me why he continues he hasn't done
anything for seventeen years. Warren, Hey,
1207
01:23:55.920 --> 01:23:59.159
he is, you know, the
stacked right off, the greatest value
1208
01:23:59.199 --> 01:24:01.279
investor of all time. Yeah,
when you say something is at the same
1209
01:24:01.359 --> 01:24:05.199
value as seventeen years ago, Warren
Buffet's buying it, it's an interesting statement.
1210
01:24:05.560 --> 01:24:09.600
Yep, Yeah, it's crazy.
Anyway, We'll be back with the
1211
01:24:09.680 --> 01:24:13.880
final segment of the Money Matter Show. Thanks again for joining us. Well,
1212
01:24:13.920 --> 01:24:15.479
be right back. Welcome back to
the Money Matter Show. My name
1213
01:24:15.520 --> 01:24:19.560
is Sebastian Borsi. I'm here with
David Sherwood, Dylan Greenberg and Todd Click
1214
01:24:19.640 --> 01:24:23.439
Junior. Yeah, we're back and
we've done a lot of financial plans this
1215
01:24:23.560 --> 01:24:26.720
week. It's been a nice busy
week, even though it's being summer,
1216
01:24:27.079 --> 01:24:30.119
a very hot one so far.
But you know, we see a lot
1217
01:24:30.159 --> 01:24:33.279
of people have the opportunity to actually
come in and relook at financial plans,
1218
01:24:33.359 --> 01:24:38.199
but also just start one. And
we have people all the time who listen
1219
01:24:38.239 --> 01:24:41.640
to the show that actually just want
to you know, they hear it for
1220
01:24:41.680 --> 01:24:44.319
the first time that we're offering these
free financial plans, and they go to
1221
01:24:44.439 --> 01:24:47.000
our website, put in their information
and we'll give you a call and set
1222
01:24:47.039 --> 01:24:49.439
up a time. That worked for
everyone. You know, some people they
1223
01:24:49.479 --> 01:24:53.159
can't make it into the office.
That's fine. We can do virtual meetings
1224
01:24:53.159 --> 01:24:57.840
as well. But the financial plan
itself, it's just amazing every time that
1225
01:24:57.960 --> 01:25:01.119
someone comes in and sees the end
result. You know, so many times
1226
01:25:01.199 --> 01:25:04.279
you can tell that they're really worried
about if they're going to make it through
1227
01:25:04.319 --> 01:25:08.439
retirement and if they have enough money, and then we show them that it's
1228
01:25:08.479 --> 01:25:11.199
out of ninety nine percent, and
then what we go and we show them
1229
01:25:11.239 --> 01:25:14.239
how much more they can spend.
And that's the real kicker, because it
1230
01:25:14.359 --> 01:25:16.399
gives people a peace of mind that
they never thought they could obtain. So
1231
01:25:17.199 --> 01:25:19.800
really, I would say anyone listened
to this, you have to take advantage
1232
01:25:19.800 --> 01:25:23.319
of it. It's completely free.
We talk to people all the time when
1233
01:25:23.319 --> 01:25:26.199
they're like, what what's included with
your fee? And it really is the
1234
01:25:26.279 --> 01:25:30.039
financial plan because people are paying I
mean charging thousand, two thousand dollars for
1235
01:25:30.119 --> 01:25:34.199
financial plans at least if you spend
two three thousand dollars for this financial plan
1236
01:25:34.319 --> 01:25:39.159
easily and end up with an annuity
or a life insurance policy, yeah,
1237
01:25:39.239 --> 01:25:42.920
it's crazy with a bias, right, like you're saying, so with ours,
1238
01:25:43.239 --> 01:25:45.560
you know, truly, we have
many people that come in do the
1239
01:25:45.600 --> 01:25:47.680
financial plan, they get the proposal, and at the end of it they
1240
01:25:47.760 --> 01:25:50.119
realize, you know, if I
don't if I can cut my own hair,
1241
01:25:50.119 --> 01:25:51.880
I don't need a barber, and
they don't do business with us.
1242
01:25:51.880 --> 01:25:56.079
And that's completely fine too. It's
not an obligation to do anything with us.
1243
01:25:56.119 --> 01:25:59.560
There's no obligation to pay us any
money. We just want to be
1244
01:25:59.600 --> 01:26:02.239
a recent for the people and understand
that, you know, just give us
1245
01:26:02.239 --> 01:26:04.640
a call and we can set up
a financial plan for you. We were
1246
01:26:04.640 --> 01:26:09.079
a client came in with a six
million dollars account, go through the whole
1247
01:26:09.199 --> 01:26:12.760
process, and at the end I
said to them, I can't do any
1248
01:26:12.800 --> 01:26:15.439
better than they're doing. They're doing
exactly what they should be doing. They're
1249
01:26:15.479 --> 01:26:19.840
doing the right I can't help you
now. If you'd like to have and
1250
01:26:20.119 --> 01:26:24.079
this money manager was in Phoenix,
I said, if you'd like to have
1251
01:26:24.239 --> 01:26:28.239
someone local, we would love to
help you, but it's going to look
1252
01:26:28.279 --> 01:26:30.399
a lot like what you're doing right
now. But also I would say,
1253
01:26:30.800 --> 01:26:34.479
we had another client in here who
at you know, a couple million investable
1254
01:26:34.560 --> 01:26:40.399
assets, but had a whole bunch
of business assets right other assets that aren't
1255
01:26:40.439 --> 01:26:44.600
liquid right now. But how we
develop a financial plan to show how we're
1256
01:26:44.600 --> 01:26:48.239
going to make those e liquid assets
turn into liquid ones once that decumulation phase
1257
01:26:48.560 --> 01:26:51.840
comes. You know, we have
connections with business planners, estate planners,
1258
01:26:53.199 --> 01:26:56.920
legacy planners, succession planners, right, a lot of business owners and we
1259
01:26:57.000 --> 01:26:59.319
know there's a lot of listening on
the show. You know, you have
1260
01:26:59.399 --> 01:27:01.439
to think about are you going to
get the money out of your business?
1261
01:27:01.479 --> 01:27:04.279
A lot of times that's your biggest
asset if you're a business owner, it's
1262
01:27:04.359 --> 01:27:08.239
your business. That's what's hit.
That's the primary thing that he needed to
1263
01:27:08.319 --> 01:27:11.479
help with, right, and having
an idea how transition phase? Yeah,
1264
01:27:11.800 --> 01:27:14.039
what do I plan for? What
do I look at? What are the
1265
01:27:14.119 --> 01:27:16.279
taxes going to be? Right?
There's so many variables for business owners.
1266
01:27:16.720 --> 01:27:21.319
And you can't look at your life
in an Excel sheet if you're a business
1267
01:27:21.319 --> 01:27:24.720
owner. I mean, that is
so complex. You really do need a
1268
01:27:24.800 --> 01:27:29.560
financial plan. You need an estate
plan that's working in tandem with your financial
1269
01:27:29.600 --> 01:27:32.600
advisor. And that's why I would
really employ any business owner because those are
1270
01:27:32.600 --> 01:27:34.760
the ones that are most complicated,
and those are the ones that they charge
1271
01:27:34.760 --> 01:27:39.640
probably like three four, five thousand
dollars for you can get it completely for
1272
01:27:39.760 --> 01:27:44.680
free. Yeah. And every single
individual, every single client, every single
1273
01:27:44.800 --> 01:27:48.920
person we meet with, is unique. They have unique feelings, they have
1274
01:27:49.079 --> 01:27:56.680
unique risk tolerance, they have unique
objectives, different children, multiple children from
1275
01:27:56.760 --> 01:28:00.640
multiple marriages, businesses that need to
get sold. Ever, it is,
1276
01:28:00.439 --> 01:28:05.279
we get it. This is not
a financial plan. That's the plain vanilla.
1277
01:28:05.439 --> 01:28:09.920
This is what's the term you guys
always used. It's an interactive,
1278
01:28:10.039 --> 01:28:14.319
dynamic, dynamic thank you, thank
you so dynamic plan, and I think
1279
01:28:14.399 --> 01:28:16.960
what yours is along it's not.
It's a unique approach. For example,
1280
01:28:17.119 --> 01:28:19.399
we had a client in here that
says, it seems like you always drive
1281
01:28:19.439 --> 01:28:23.199
away from annuities, and it's like, no, actually, we think annuities
1282
01:28:23.199 --> 01:28:26.359
are fine in the right circumstance.
For example, we had a client me
1283
01:28:26.439 --> 01:28:29.800
and you and me and Dave were
working on where you know, the state
1284
01:28:29.880 --> 01:28:33.199
was going to offer him around three
hundred date of Arizona died. You can
1285
01:28:33.239 --> 01:28:36.800
explain it. You probably know husband
died and the State of Arizona was going
1286
01:28:36.880 --> 01:28:43.760
to offer her a lifetime payment of
x amount or a lump sum, and
1287
01:28:44.359 --> 01:28:48.119
there was no death benefit. There
was no If she had taken the lifetime
1288
01:28:48.199 --> 01:28:51.760
benefit, which is really all she
needs, she was comfortable with that amount,
1289
01:28:53.159 --> 01:28:56.000
and then got hit by a bus
in two weeks, it's gone.
1290
01:28:56.239 --> 01:29:00.479
Yeah, the entire principle is gone. It Arizona wins. So what we
1291
01:29:00.560 --> 01:29:03.199
were able to do is we were
able to put her into an annuity where
1292
01:29:03.359 --> 01:29:08.880
she gets the exact same monthly benefit
that she was going to get from the
1293
01:29:08.920 --> 01:29:13.199
state of Arizona. But she also
gets a bit as a beneficiary. So
1294
01:29:13.239 --> 01:29:15.880
if something happened to her one,
two, three, four, five years
1295
01:29:15.920 --> 01:29:18.960
down the road, that money doesn't
just evaporate into thin area, goes to
1296
01:29:19.079 --> 01:29:24.079
her children. And so this is
one of the examples of you know,
1297
01:29:24.199 --> 01:29:28.640
you're looking at the entire situation and
understanding how a product fits into that and
1298
01:29:28.760 --> 01:29:30.960
not just saying, how can this
product fit into a situation? And an
1299
01:29:30.960 --> 01:29:36.159
annuity is probably the only thing that
will work in that scenario that I just
1300
01:29:36.640 --> 01:29:40.359
laid out. Yeah, Like you
wouldn't take that money and put an investment
1301
01:29:40.359 --> 01:29:43.119
account because you can't guarantee you're going
to buy and video with it, you
1302
01:29:43.199 --> 01:29:46.520
know. So it's just completely different
based on each situation. Yeah. And
1303
01:29:46.560 --> 01:29:50.079
another situation were you use it on
is during retirement. It's if you need
1304
01:29:50.119 --> 01:29:55.359
a bridge a gap between your retirement
expenses and what you're bringing in through Social
1305
01:29:55.359 --> 01:29:59.039
Security, through pensions, through your
retirement accounts. If you don't have enough
1306
01:29:59.039 --> 01:30:01.760
coming in from there, how can
we get you a little more income that
1307
01:30:02.039 --> 01:30:05.680
is considered guaranteed by the insurance company. That's when a newdies can come into
1308
01:30:05.680 --> 01:30:09.439
play too. Is the bridge that
gap, and that's how we find them
1309
01:30:09.520 --> 01:30:13.560
useful. I think one of the
more unique things too about green Brook Financial.
1310
01:30:13.640 --> 01:30:16.159
If you're a client that's only ever
been with green Brook Financial, you
1311
01:30:16.239 --> 01:30:19.960
probably don't even see this one value
that I'm going to talk about today.
1312
01:30:19.960 --> 01:30:23.680
I was sitting in a meeting with
Todd and he mentioned to the clients about
1313
01:30:23.720 --> 01:30:27.039
how he needs to be essentially doubling
his spending if he wants to bounce that
1314
01:30:27.119 --> 01:30:30.880
last check like he means to.
Right, this is not something that a
1315
01:30:30.960 --> 01:30:34.600
traditional financial advisor would tell you.
Right, We're gonna sit your portfolio into
1316
01:30:34.640 --> 01:30:39.319
sixty forty and we're going to withdraw
four percent and you're gonna have a nice
1317
01:30:39.399 --> 01:30:43.399
life. Right, Todd's sitting here
telling him, No, you need a
1318
01:30:43.439 --> 01:30:47.119
double your spending. Right, What
other advisor out there is going to do
1319
01:30:47.239 --> 01:30:49.760
that. It's going to tell you
that because there is a hidden incentive,
1320
01:30:50.119 --> 01:30:55.439
well, because that spending is going
to come out of the account and reduce
1321
01:30:55.560 --> 01:30:58.920
your income exactly, right, Exactly. It's more of like when people are
1322
01:30:58.960 --> 01:31:00.640
telling me I want about my last
year, I want to work or use
1323
01:31:00.680 --> 01:31:03.960
everything I worked hard for, and
then I show them a plan that's ninety
1324
01:31:04.000 --> 01:31:08.399
nine percent successful. I show them
a plan that has two million dollars at
1325
01:31:08.439 --> 01:31:11.359
the end of it, even in
a bad scenario. So then I asked
1326
01:31:11.399 --> 01:31:14.359
them, Okay, well if your
plan was suspended, all you know you
1327
01:31:14.479 --> 01:31:18.239
failed. Yeah, right, so
we have to change your either assumptions or
1328
01:31:18.359 --> 01:31:21.199
change the fact that you need some
legacy planning. It's maybe we need to
1329
01:31:21.239 --> 01:31:24.520
do some charitable giving, right,
I mean, it doesn't mean that you
1330
01:31:24.600 --> 01:31:27.199
have to spend it on yourself.
Some people they're just they don't know how.
1331
01:31:27.399 --> 01:31:30.600
It's something that was very eye opening
to me, just because this is
1332
01:31:30.640 --> 01:31:32.159
the only firm that I've ever worked
for and I had, like I said,
1333
01:31:32.239 --> 01:31:34.960
this is a value that we have
that we'd bring to the table that
1334
01:31:35.039 --> 01:31:39.159
I didn't even know, just because
I haven't thought about the other advisors out
1335
01:31:39.159 --> 01:31:42.359
there and what they're doing with this
guy that should be spending a lot more
1336
01:31:42.399 --> 01:31:45.079
money. I was licensed forty three
years ago and in forty three years of
1337
01:31:45.199 --> 01:31:47.439
doing this, and before that,
I was ten years at the bank.
1338
01:31:47.840 --> 01:31:51.560
So I've been in financial services for
fifty three years. And the one thing
1339
01:31:51.640 --> 01:31:58.279
I will tell you with certainty,
you can't fix frugal. Once a person
1340
01:31:58.439 --> 01:32:00.840
is frugal, they're going to all
always be frugal. It's a learned behavior.
1341
01:32:01.119 --> 01:32:05.720
You're not going to go from frugal
to spend thrift. That's just simply
1342
01:32:05.840 --> 01:32:10.720
not going to happen. But you
can show someone through data, and I
1343
01:32:10.760 --> 01:32:14.359
think we've seen this with a couple
of your clients who didn't originally do the
1344
01:32:14.439 --> 01:32:16.840
financial plan, and then we did
the financial plan afterwards, and some of
1345
01:32:16.920 --> 01:32:19.640
them were really worried about their plan, right, and then we showed them
1346
01:32:19.680 --> 01:32:23.279
how much more they would have to
really spend to make it kind of worried
1347
01:32:23.840 --> 01:32:25.880
where you're actually gonna be like,
yeah, this is kind of you know,
1348
01:32:26.000 --> 01:32:29.840
fifty to fifty there, it's so
high that they're like, really,
1349
01:32:30.039 --> 01:32:32.760
that's how much and then all their
fears kind of go away. Something I
1350
01:32:32.840 --> 01:32:36.439
often tell people, and this is
what you want to hear when you're a
1351
01:32:36.520 --> 01:32:42.520
retirement age, is whatever problems you
have in life, money is not one
1352
01:32:42.560 --> 01:32:45.000
of them. Yeah, but a
lot of people make it one of Yeah,
1353
01:32:45.000 --> 01:32:46.840
they want to make it one of
them. Yeah, don't matter.
1354
01:32:46.960 --> 01:32:51.000
The thing though, and that's our
job is to show you that it doesn't
1355
01:32:51.039 --> 01:32:55.520
need to be, and to convince
you not only through emotional coaching, but
1356
01:32:55.680 --> 01:32:58.359
data, right, show you straight
up, this is what it is.
1357
01:32:58.560 --> 01:33:00.640
Explain it to you so it makes
sense, and that's what we do a
1358
01:33:00.680 --> 01:33:03.199
great job is education. Right now. What we can show you also with
1359
01:33:03.319 --> 01:33:08.319
that plan is what happens if inflation
increases? What if it stays at three
1360
01:33:08.920 --> 01:33:12.479
four five percent for a long time. We can show you the effects on
1361
01:33:12.560 --> 01:33:15.880
your plan. We can show you
what happens if what if they do cut
1362
01:33:15.960 --> 01:33:17.800
so security about twenty five percent,
fifty percent, any of the fears you
1363
01:33:17.920 --> 01:33:21.640
have going forward through retirement, we
can look at in real time and show
1364
01:33:21.680 --> 01:33:26.000
you the effects that it could have
on your retire and outlook. We have
1365
01:33:26.039 --> 01:33:29.840
a relatively new client who did the
financial plan with you guys about six months
1366
01:33:29.880 --> 01:33:36.640
ago, and he came in this
past week and his wife has a bug
1367
01:33:36.920 --> 01:33:44.479
about buying a second home in an
area where her grandchildren live. And we
1368
01:33:44.640 --> 01:33:47.600
sat down and went through all of
the different scenarios where you would get that
1369
01:33:47.760 --> 01:33:50.800
money, how you would get that
money, what that would do to your
1370
01:33:50.880 --> 01:33:56.560
financial plan, would it help,
would it hurt? And ultimately ended up
1371
01:33:57.840 --> 01:34:00.640
coming up with a pretty good solution, but more importantly a peace of mind,
1372
01:34:00.760 --> 01:34:04.560
something that he could take home.
Sit down with the wife at the
1373
01:34:04.640 --> 01:34:10.279
kitchen table and say okay, here's
here are the different scenarios as to how
1374
01:34:10.359 --> 01:34:15.840
we can pull this off. These
are people that are not hurting for money.
1375
01:34:15.920 --> 01:34:17.199
They have plenty of money. It's
just a matter of where do you
1376
01:34:17.359 --> 01:34:21.479
get the money? Where's the best
place to take efficient place? And we
1377
01:34:21.560 --> 01:34:26.800
could we could sit down with the
financial plan, knowing all of the things
1378
01:34:26.840 --> 01:34:30.840
that we know about this particular couple
and say, well, I know that
1379
01:34:30.920 --> 01:34:36.239
you have this asset that's unencumbered.
What if you were to take a loan
1380
01:34:36.319 --> 01:34:42.520
against that asset to get some of
the down payment, and then over here
1381
01:34:42.960 --> 01:34:46.199
we take a little bit out of
that asset to cover them all. Anyway,
1382
01:34:46.479 --> 01:34:53.439
long story short, the financial plan
is dynamic and it's ever changing.
1383
01:34:53.880 --> 01:34:59.840
And here's a one to eighty degree
turn for this couple, a time saving.
1384
01:35:00.239 --> 01:35:01.920
I mean, imagine how much things
that you'd have to remember. Oh
1385
01:35:02.039 --> 01:35:05.279
yeah, all the assets, the
valuations. I mean yeah, no,
1386
01:35:05.359 --> 01:35:10.239
I mean it's one of those things
that because we had done the financial plan
1387
01:35:11.680 --> 01:35:15.199
before he came in, Todd and
I sat down and went through the financial
1388
01:35:15.239 --> 01:35:18.840
plan, said okay, what about
this, what about that? So once
1389
01:35:18.920 --> 01:35:23.600
you have that in our database,
if you have other questions, whether you
1390
01:35:23.640 --> 01:35:27.319
become a client or not this guy
did, thankfully, But whether you become
1391
01:35:27.359 --> 01:35:29.319
a client or not, we have
all of that. And if you have
1392
01:35:29.479 --> 01:35:32.960
a second question or something that we
can deal with, we have it all
1393
01:35:33.079 --> 01:35:35.880
right here. Anyway, we thank
you for listening to us. Go out
1394
01:35:35.920 --> 01:35:42.720
and enjoy this cooler weather, relatively
speaking, and we'll be back next week
1395
01:35:42.800 --> 01:35:45.039
with another edition of the Money Matter
Show. We all want to be happy,
1396
01:35:45.960 --> 01:35:48.800
and of course I think that one
of the most important parts about being
1397
01:35:48.880 --> 01:35:53.479
happy is being healthy. If you're
not healthy, you're not happy. But
1398
01:35:53.600 --> 01:35:57.920
here at Greenberg Financial, what we're
trying to be is profitable. See you
1399
01:35:58.039 --> 01:35:58.439
next week.
