June 8, 2025 • 26 mins
On today’s Suze School, Suze is joined by Keith Fitz-Gerald for a lesson in Palantir. We’ll learn what the company actually does and why it’s always better to invest by knowing the facts about a stock, versus only making emotional decisions.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Suze (00:28):
June 8, 2025. Welcome everybody to the Women and Money
podcast as well as everybody smart enough to listen. All right,
we have a surprise for you today, but before I
tell you about that surprise, I just want to remind
you that you have a few days left till June 12th,
the end of June 12, to go to musthadocs.com/birthday to
(00:54):
get the must-have docs
for $74. It's an honor my 74th birthday, so you
should take advantage of it. Remember, a will, a living
revocable trust, an advanced directive, a durable power of attorney
for healthcare. For $74 you go to an attorney, they
would be $2500 or more. And with this, they're good
(01:16):
in all 50 states. You can make as many changes
as you want. You can always come back and update
it for nothing. You should take advantage of it. All right.
Let's go to Suze school. You know, obviously, over the
past year or two.
I have been recommending a stock by the name of Palantir,
(01:37):
and that recommendation came from Keith Fitz-Gerald. Many of you
are part of his One Bar ahead group, and you
all love it. You're all smart enough to do that,
but many of you are also part of 5 with Fitz,
which is his absolutely free 5 days a week update
on what he thinks you should and should not be
(02:00):
doing just that simple.
Many of you have been mad at me. You've been
so mad at me because how could I recommend a
stock like Palantir, Suze Orman, don't you understand the destruction
that they're doing to the United States of America and
on and on and on. And so I thought, especially
(02:21):
with the news, if you've been watching the news lately.
It's been like, oh my God, Trump has tapped Palantir
for possibly three projects, and immediately the stock goes down
from like 130 all the way down to 119. Then
the very next day it opens up at 124, 125.
Here's the thing you've got to understand what is Palantir?
(02:45):
Should you be mad at me that I recommended it?
What should you understand about investing in stocks? When should
you hold? When should you sell? What should you do,
especially with a stock like Palantir, that truthfully everybody has made
us more money.
Than any stock that I'm sure you have ever had
(03:07):
in your portfolio, 'cause remember Keith started to recommend to
buy it when it was $7 a share, OK?
So I thought rather than me trying to explain it
to you, that I would have the maestro himself, Mr.
Keith Fitz-Gerald, on the podcast today, so that I could
(03:29):
ask him questions on your behalf, and maybe you could
get an understanding of why we recommended it, or I
should say Keith recommended it, and why I believed in
that recommendation so that I then started to recommend it
to you.
And how should you feel about things. So Keith, welcome
(03:49):
to the Women and Money podcast once again.
Keith (03:53):
Thank you so much for having me and to everybody
who's spending a few minutes of their time with us today.
What an honor. Appreciate it.
Suze (04:00):
You know, it is an honor, Keith, because as many
of the listeners know, I don't have guests
on this show. I get people who write into me
all the time and say, Suze, I have this expert
on so and so. Can they be a guest on
your show? And on and on, and I always write
them back and say, Don't you listen to the Women
and Money podcast? We don't have guests. It's just me
(04:23):
and KT. That's it. But every once in a while,
I really believe there has to be an exception to
the rule.
Especially with somebody like you, Keith. Keith, just tell people
a little bit about you and why I go to
you when I really wanna know deep inside information, not insider,
(04:47):
but inside your head about what's going on, not only
in the stock market, but in the economy. So let
everybody know just a little bit about you.
Keith (04:59):
Oh my goodness, you are most kind, so.
So for right or for wrong, for better or for worse,
I've been doing this since I was 15 years old,
so 45+ years in global markets right now, and I
love what I do. This is a big puzzle unfortunately
we've gotten a lot of stuff right over the years.
Now we made some mistakes, but that comes with the territory, right?
(05:21):
But I'm what you see is what you get. I
put my shoes on just like everybody else, and what
people tell me, including yourself, is that I'm good at
common sense, breaking it down, no $5 words needed because
you know what, if you invest in optimism, the profits
eventually follow. And if you can do that consistently, you
have a framework, you can keep your emotions out of
the equation, and we're all guilty of letting them in
(05:42):
once in a while. But if you can do that,
then you know what, you got a pretty darn bright
future in front of yourself. I'm married, got two grown boys.
Live in the Pacific Northwest and travel the world because
I love what I do and I love the people
I meet, and I love the fact that innovation always
produces profits.
Suze (05:58):
And just tell people a little bit about how many
firms you've worked for and how long you've been doing this.
Keith (06:04):
Oh my goodness, sure. So I made my first trades
when I was 15 years old, learning at the feet
of my grandmother Virginia Mimi Gruner, who was widowed at
a very young age and left with a tiny little
life insurance settlement.
And she turned that because she became a global investor
before the term even existed, and she got so good
at what she did that she turned that little tiny
(06:26):
settlement into everything she needed to live for the rest
of her life and then some. She made sure I
understood how money worked. She made sure I knew that
the world was bigger than my garage. So I started
making my first trades. I was fortunate to get quite
a few right that helped pay for college, for my
living expenses, all sorts of things. I never looked back
and I started in the late 80s at a firm
called Wilshire Associates, which today is one of the
(06:48):
pre-eminent worldwide consulting firms, uh, trillions of dollars under advisement
and consultation. I learned what worked on Wall Street. More importantly,
I learned early on what really works for individual investors
and importantly what doesn't work. And so I began to
put two and two together and ever since, you know, I've,
I've just been around the world, the global financial centers
worked with lots of big funds, small funds, big firms,
(07:10):
small firms today advise a number of advisors.
Uh, on security selection, market strategy, and in addition, we
write One Bar Ahead for individual investors around the world.
Suze (07:22):
Everybody, that's Keith's brief history to tell you the truth.
It's far more extensive than that, but I'll let him
be modest for right now. We have a stock, Palantir.
Most people don't even have a clue what Palantir does.
So first of all, let's explain that to them. They
(07:42):
just hear me say buy Palantir, and they do. They
look at the symbol, they go, OK, and they don't
know what they have purchased. Tell everybody what they should
know about Palantir.
Keith (07:55):
Absolutely let's keep it really simple. So in the old
days when you put together databases stuff in spreadsheets and
nice orderly linear columns, you got what was called big
data and firms like SAP and Oracle, the legacy names
of the past were great at organizing that stuff, but
the problem that we've got
in today's world is that the data has become chaotic.
(08:17):
It's become multifaceted. It's become multidimensional and so we've got
so much data, not many people know this, Suze, but
we've created something like 98% of all the data that
has ever been created in recorded human history within the
last five years. Now think about that for, I mean
that is a staggering figure. The average person today encounters
(08:40):
more information in a single issue of a newspaper.
That a person living in the 1700s would have seen
in their lifetime, so this has continued to accelerate and
the data continues to get more complex. The problem is,
as the data gets more complex it becomes harder to
work with. Now that's where Palantir comes in. They take
this chaotic data and they take all these nice neat
(09:03):
stacks of information that you can't otherwise access, organize, or
even make decisions with.
And they allow it to talk to each other and
the byproduct of that is that clients who use it,
whether it's commercial, whether it's corporate, whether it's government, no
matter what the application is, suddenly you can make decisions
using data you couldn't see before you can become more efficient,
(09:25):
you can increase your sales, you can increase the hospital beds,
medical treatments, specialized care. There's thousands of use cases for
what you can do with data.
Now using Palantir's products that you couldn't do even a
few years ago.
Suze (09:41):
And why is it that people write me and tell
me and yell at me for putting people's money and
recommending Palantir? What are they misunderstanding or what are they
understanding about the company that could be very dangerous to
the safety of everybody in America?
Keith (10:01):
Well, I would flip that around. There's a lot of
misinformation out there, right? And Palantir had begun, it has
its roots in helping make sense of complicated data for
the military and the intelligence community. So for a lot
of folks that is a tough pill to swallow because
they don't want to associate necessarily with the military or
with the thought that there's an intelligence group out there.
(10:22):
But they got so good at moving this data around
and anticipating things and making decisions that they begin to
expand in their commercial environment so you know this idea
that the company is suddenly miraculously surfacing out of nowhere
it's just patently false and incorrect. It's been around a
very long time and it's very, very good at what
(10:42):
it does. And the other misconception that's out there right now, Suze,
and why people are very, very upset is because there
was an article recently in The New York Times,
that is filled with erroneous information. I mean dozens of
technical errors in terms of how the process works, what
their software does, where they go, the role they play.
I mean it's just, it's amazing. CEO Alex Karp was
(11:04):
on CNBC earlier Friday I believe it was, and he said, look,
he said, 'I'm dyslexic. The New York Times has so
many errors in their article they may as well hire
me to do a spelling beat.' You know, I mean,
it's just, it's astonishing.
So if you take a few minutes and you understand
how the product actually works.
This notion of fear and suddenly surveilling Americans and it's
(11:27):
doing all these other things is not only patently false
but that's not what the software does it's not even
built into the software's capabilities. Palantir, and this will be
a very controversial statement for a lot of people, but Palantir,
if you wanted to surveil Americans or other people around
the world, is absolutely the wrong choice.
(11:50):
In fact, it's probably the worst choice you could make
if you're a bad actor because all of the safeguards
determining who accesses information, how they use it, what they
do with it exactly to the data point what they
touch is auditable, it's transparent, it is built into the
software platform, not as an add-on, which is how all
(12:12):
the legacy guys did it. So you're talking about
Suze (12:15):
a software here we are.
You say the legacy guys how they did it so.
Explain to people why, and they should understand this, why
Palantir also protects us here in the United States of America.
It's not, listen, Palantir, I don't have to know much,
(12:36):
but I do know that Palantir isn't built so that
they can spy on all of us and they can
know what we do. I mean, there are already companies
out there that know everything that we do.
Keith (12:47):
Well, the funny, the funny thing is people have voluntarily
contributed to Meta and Instagram and you know all of
these other things, TikTok, you know, people worry about the
Chinese or they worry about Palantir yet in the same
breath they go onto their Facebook account or they go
on their Instagram or they dial into their credit bureau
or they get a mortgage, they have a credit card. It's,
(13:07):
it's such a contradiction. The irony is extreme because people
are suddenly like, wait a minute, everybody's
watching when that cat got out of the bag 40
years ago and we are living in a digital world
where if you use a credit card, if you go
into a store, if you, you get on the Facebook,
social media, and even the people who are writing to you,
(13:28):
the irony, the people who are writing to you and
me and sometimes saying, well, you know, what about Palantir?
They're using technology that came from the military to begin with.
So you know, the, the irony is, is really something
every company has its own set of gremlins.
And as an investor, you gotta come to terms with
that because are you looking for the future, or are
you looking to build upon the past? If you're looking
(13:48):
for the future, profits are where you wanna be. If
you're looking for the past, then you know what?
Move 500 miles from the nearest military installation, go off
the grid, start turning your own butter, get some sticks
you can whittle at midnight, you know, there's gonna be
a very different world. You can't go off the grid anymore.
But a company like Palantir, here's the real part, and
this is the part that most people don't understand, particularly
(14:10):
in light of this New York Times article, is that
the fear is that, oh my gosh, suddenly everybody's watching this. Well, personally,
looking at this from a much bigger perspective, which is
what I do because I do investing, I don't do politics,
I don't do personalities. I gotta figure out where the
money is going. That's my job as a money strategist,
you know, a market strategist.
And what I know is that there are bad actors
(14:32):
out there. There are terrorists, there are the Chinese, there
are the Russians, there are a dozen other folks who,
if they could, would push a button and eliminate the
United States of America and consider it a good day's work, OK?
Palantir is helmed by an unabashedly patriotic CEO who is firmly,
unequivocally in defense of America and Americans. So I would
(14:58):
rather
have him out there with Palantir protecting this country knowing
full well that the Chinese and Russians and others are
desperately trying to develop their own versions of Palantir to
be used against us.
Suze (15:15):
Just to make it very simple for all of you,
you want to know what freaks me out, everybody, that
KT and I are having a conversation, and we're talking about,
let's just say surfboards. Let's just say that's true.
And all of a sudden we look on our phone
and we look at Instagram or we look at Facebook
or whatever, and there are all these ads about surfboards
(15:39):
all of a sudden up there advertising to us. So
you have to realize if you're using Siri, if you're
using Alexa, if you're using
this little phone. It is listening to you all the
time and everything that you are saying. You walk by
a store on the street and all of a sudden
(15:59):
you get an ad that says, oh, wanna come in?
We have a sale. It's like, how did they know
that I'm even walking by that particular store.
So you have to not be so freaked out when
all of a sudden a major company now is doing
contracts possibly with the government. They've been doing contracts with
(16:20):
the government for a long time, but when all of
you see the name Trump is targeting Palantir to do something,
you automatically think, oh my God, that's it, it's gonna
be the worst thing.
And what you also have to understand and Keith tell
them that doesn't mean just because Trump is targeting them
(16:42):
to do something that they're going to do it, isn't
that true?
Keith (16:46):
Well, that's
very true. And so we have the 1974 Privacy Protection
Act which is in play and it's very robust and
you know our, our the architects of that law did
a very good job. So you know it's not a
matter of the President is out there to target you.
What he actually said and and and this is important.
Because a lot of folks either can't get past Trump
(17:07):
or they just can't get past Palantir take Trump out
of it. Take Palantir out of it. Imagine you're sitting
in that office, right? And if you know that all
of these threats are out there, right, there is not
a leader in the world who would not employ the
best software he or she could buy to protect his
or her citizens. That's the crux of the argument.
(17:29):
And so if we look at this again, take Trump
out of it, you know, like him, dislike him, I
don't take sides, I do money, not politics. So if
you take him out of it.
The question to ask is, would a sitting president, would
a leader in any country around the world not take
steps to buy the very best software they could find
to help protect their citizens and their nation? And the
(17:51):
answer is unequivocally yes, they would absolutely try to protect
their citizens and their nation because that's what they were
elected to do that.
Part of the job, so you know my piece when
you look at it coldly, clinically, OK, fine, it is Trump,
it is Palantir, but if you look at the framework
of the 1974 Protection Act, you look at what the
(18:11):
Palantir software stack actually does, how it works, who controls
it in the audit trail involved.
Then the question becomes where is this actually fit within
our government? What the President actually said was I want
to build a commonly accessible, more efficient, more cost effective
database instead of relying on antiquated, outdated systems that cost
(18:33):
taxpayers billions of dollars, result in hopeless inaccuracies, you know,
from agencies A to Z in our government. Everybody knows
they're inefficient.
So this is an attempt to protect Americans make our
government more efficient, potentially move us into the next century,
and again take Trump out of it. What does this
software actually do? What could we get? What would go right?
(18:56):
Imagine calling the IRS and actually getting an answer. Imagine
having Amtrak work the way it was supposed to. Imagine
the post office being more efficient. Imagine your medical records,
your tax records, the HIPAA Act, privacy, all of these things.
Suddenly working the way that they were intended in a
pre-digital age, but in a digital age, how cool would
that
be?
Suze (19:14):
You know, the truth of the matter is, is that Palantir,
correct me if I'm wrong, Keith, had a lot to
do with helping us during COVID and the pandemic and
all of these things. So all of you take out,
not all of you, but those of you who have
been so angry at me, you take out one thing
and you blow it up and you're mad at me.
(19:35):
But all right, let's say you're like KT, OK? Sure.
And Keith experienced this the other day. KT hears the
news or watching CNN. Immediately she looks at me, she says,
'sell it.'
Now, as all of you know, KT and I have
a whole lot of Palantir, tens of thousands of shares. OK.
(19:58):
Now KT has half and I have half, and I said,
I'm not selling my half. She says, 'oh, you're, I'm,
I want to sell my half.' So she doesn't ask me,
and she sends on her email,
an email to Keith saying what should I do? All
of a sudden Keith calls. First of all, Not quite
(20:19):
believing that it's KT cause I don't think KT Keith
has ever called you before, has she?
Keith (20:24):
Well, I wanted to make sure it was really her
because to our point about digital fraud, it could have
been an imposter, right?
Suze (20:30):
And so KT now is convinced. She doesn't care. She
wants to sell. She doesn't want to have anything to
do with this stock. She is dead set against it.
And so Keith is explaining all this to her. So
I want you to imagine that maybe one of you
out there listened to us when we started to say
(20:52):
buy it at 7, buy it at 10, buy it
at 15, cause my average cost base in it is 22.
So I said to KT, now imagine you're KT. I said, KT,
if you sell just let's say 5000 shares, do you
(21:13):
realize the capital gain that you're going to pay here?
Because the difference between it's a 100% gain for you,
KT on 5000 shares. You're going to lose 20 or 30%
of that to capital gains tax anyway.
So are you aware of that? And she just kind
(21:33):
of looked at me. Now by this point, Keith is
on FaceTime with us. So, of course, I handed her
over to him, and at first she was right, dead
set against listening to either of us. Don't you agree?
Right, she was, yeah, she was like, 'no, I'm selling,'
and I'm like, you are not selling. And now we're
arguing about it, but here was the bottom line, and
(21:58):
I'll have Keith tell you what he told KT. Take
out the fact of the capital gains and all of that.
But the question becomes, when do you hold the stock?
That you are vehemently against. You believe in fact, you
don't believe a thing that we've just said to you
here on the podcast. You think Palantir is evil, you
(22:22):
don't like what they're doing, and what should you do
at that point in time? And Keith, what would you
tell them?
Keith (22:30):
Boom, if you are absolutely dead set and you wanna
sleep and this is driving you bananas and you know
what sell it and don't look back but make peace
with the fact that this company is gonna go on
without you, the future is gonna arrive whether you like
it or not, and that you're gonna miss out on
tremendous profit potential going forward.
Because investing is not about looking backwards in one of
(22:51):
our cardinal rules is you keep your emotions out of
the equation. So if you can come to terms with
the facts, with the potential with the way this is moving,
then by all means hang on to it. Stocks like Palantir,
are truly unique. They are only ones in the world
doing what they do are going to change our future,
(23:12):
change the trajectory of humanity. And what we know from
history is that every company has gremlins, but those companies
like Palantir that truly change our future are worth hanging
on to if you can stomach doing so.
Suze (23:27):
So, all of you, I just want you to know
I have trouble with Musk. I just do.
And I know that Tesla is one of these stocks
that Keith loves. You love this stock.
Keith (23:39):
Oh, I do. He drives me bananas, but I love
the stock.
Suze (23:42):
Yeah, but I just want to tell all of you
I had a very big position in Tesla, but I
sold it all, Keith. Now I understand very well that
I probably will miss out on a whole lot of
money being made in that one stock, however,
There are other stocks that I can equally buy and
(24:06):
make money, maybe not as much money, maybe possibly more money,
but for me, I couldn't stomach owning that stock. If
that's you,
When it comes to Palantir, what I would tell you
is sell it and don't look back, but don't have
regrets when you look at it and you see it
(24:27):
skyrocketing as Tesla has done since I sold it.
You can't have regrets. You have to be firm in
your conviction as to why you are selling it, and
if you value yourself more than money.
Then sell it if that is your feeling. If it's
not your feeling, don't let somebody make you feel guilty
(24:51):
about it. This podcast really is about you getting in
touch with your emotions, cause remember I've said to you
over all these years that fear, shame, and anger are
the three internal obstacles to wealth. Keith, what else, as
we're bringing this to an end, do you want to say?
Keith (25:10):
Investing in optimism,
is always more profitable and confidence inspiring than cowering in
fear and how you define that is uniquely up to
every listener on this today and what's right for one
person is different for another, but that's how you share
information that's how you learn that's how you adjust your
(25:33):
opinion because companies like Palantir force you to have a
conversation with somebody in the mirror and as long as
you're listening.
There's an opportunity there. If you shut it off reflexively,
then you know what?
That's bench level thinking, third level stuff, don't even mess
with it.
Suze (25:49):
The main thing I want to say first of all,
thank you, Mr. Keith Fitz-Gerald. Thank you. Remember all of you,
you only have a few days left to go to
musthavedocs.com/birthday to get the must-have documents, $2500 worth of the
documents you must have. Just go there and check it out. $74.
(26:12):
And until Thursday, when Ms. Travis joins us again for
an Ask KT and Suze Anything podcast. Remember, there's only
one thing I want you to remember when it comes
to your money, and it's this people first, then money,
then things. Now you stay safe. Bye-bye.
June 8, 2025. Welcome everybody to the Women and Money
podcast as well as everybody smart enough to listen. All right,
we have a surprise for you today, but before I
tell you about that surprise, I just want to remind
you that you have a few days left till June 12th,
the end of June 12, to go to musthadocs.com/birthday to
(00:54):
get the must-have docs
for $74. It's an honor my 74th birthday, so you
should take advantage of it. Remember, a will, a living
revocable trust, an advanced directive, a durable power of attorney
for healthcare. For $74 you go to an attorney, they
would be $2500 or more. And with this, they're good
(01:16):
in all 50 states. You can make as many changes
as you want. You can always come back and update
it for nothing. You should take advantage of it. All right.
Let's go to Suze school. You know, obviously, over the
past year or two.
I have been recommending a stock by the name of Palantir,
(01:37):
and that recommendation came from Keith Fitz-Gerald. Many of you
are part of his One Bar ahead group, and you
all love it. You're all smart enough to do that,
but many of you are also part of 5 with Fitz,
which is his absolutely free 5 days a week update
on what he thinks you should and should not be
(02:00):
doing just that simple.
Many of you have been mad at me. You've been
so mad at me because how could I recommend a
stock like Palantir, Suze Orman, don't you understand the destruction
that they're doing to the United States of America and
on and on and on. And so I thought, especially
(02:21):
with the news, if you've been watching the news lately.
It's been like, oh my God, Trump has tapped Palantir
for possibly three projects, and immediately the stock goes down
from like 130 all the way down to 119. Then
the very next day it opens up at 124, 125.
Here's the thing you've got to understand what is Palantir?
(02:45):
Should you be mad at me that I recommended it?
What should you understand about investing in stocks? When should
you hold? When should you sell? What should you do,
especially with a stock like Palantir, that truthfully everybody has made
us more money.
Than any stock that I'm sure you have ever had
(03:07):
in your portfolio, 'cause remember Keith started to recommend to
buy it when it was $7 a share, OK?
So I thought rather than me trying to explain it
to you, that I would have the maestro himself, Mr.
Keith Fitz-Gerald, on the podcast today, so that I could
(03:29):
ask him questions on your behalf, and maybe you could
get an understanding of why we recommended it, or I
should say Keith recommended it, and why I believed in
that recommendation so that I then started to recommend it
to you.
And how should you feel about things. So Keith, welcome
(03:49):
to the Women and Money podcast once again.
Keith (03:53):
Thank you so much for having me and to everybody
who's spending a few minutes of their time with us today.
What an honor. Appreciate it.
Suze (04:00):
You know, it is an honor, Keith, because as many
of the listeners know, I don't have guests
on this show. I get people who write into me
all the time and say, Suze, I have this expert
on so and so. Can they be a guest on
your show? And on and on, and I always write
them back and say, Don't you listen to the Women
and Money podcast? We don't have guests. It's just me
(04:23):
and KT. That's it. But every once in a while,
I really believe there has to be an exception to
the rule.
Especially with somebody like you, Keith. Keith, just tell people
a little bit about you and why I go to
you when I really wanna know deep inside information, not insider,
(04:47):
but inside your head about what's going on, not only
in the stock market, but in the economy. So let
everybody know just a little bit about you.
Keith (04:59):
Oh my goodness, you are most kind, so.
So for right or for wrong, for better or for worse,
I've been doing this since I was 15 years old,
so 45+ years in global markets right now, and I
love what I do. This is a big puzzle unfortunately
we've gotten a lot of stuff right over the years.
Now we made some mistakes, but that comes with the territory, right?
(05:21):
But I'm what you see is what you get. I
put my shoes on just like everybody else, and what
people tell me, including yourself, is that I'm good at
common sense, breaking it down, no $5 words needed because
you know what, if you invest in optimism, the profits
eventually follow. And if you can do that consistently, you
have a framework, you can keep your emotions out of
the equation, and we're all guilty of letting them in
(05:42):
once in a while. But if you can do that,
then you know what, you got a pretty darn bright
future in front of yourself. I'm married, got two grown boys.
Live in the Pacific Northwest and travel the world because
I love what I do and I love the people
I meet, and I love the fact that innovation always
produces profits.
Suze (05:58):
And just tell people a little bit about how many
firms you've worked for and how long you've been doing this.
Keith (06:04):
Oh my goodness, sure. So I made my first trades
when I was 15 years old, learning at the feet
of my grandmother Virginia Mimi Gruner, who was widowed at
a very young age and left with a tiny little
life insurance settlement.
And she turned that because she became a global investor
before the term even existed, and she got so good
at what she did that she turned that little tiny
(06:26):
settlement into everything she needed to live for the rest
of her life and then some. She made sure I
understood how money worked. She made sure I knew that
the world was bigger than my garage. So I started
making my first trades. I was fortunate to get quite
a few right that helped pay for college, for my
living expenses, all sorts of things. I never looked back
and I started in the late 80s at a firm
called Wilshire Associates, which today is one of the
(06:48):
pre-eminent worldwide consulting firms, uh, trillions of dollars under advisement
and consultation. I learned what worked on Wall Street. More importantly,
I learned early on what really works for individual investors
and importantly what doesn't work. And so I began to
put two and two together and ever since, you know, I've,
I've just been around the world, the global financial centers
worked with lots of big funds, small funds, big firms,
(07:10):
small firms today advise a number of advisors.
Uh, on security selection, market strategy, and in addition, we
write One Bar Ahead for individual investors around the world.
Suze (07:22):
Everybody, that's Keith's brief history to tell you the truth.
It's far more extensive than that, but I'll let him
be modest for right now. We have a stock, Palantir.
Most people don't even have a clue what Palantir does.
So first of all, let's explain that to them. They
(07:42):
just hear me say buy Palantir, and they do. They
look at the symbol, they go, OK, and they don't
know what they have purchased. Tell everybody what they should
know about Palantir.
Keith (07:55):
Absolutely let's keep it really simple. So in the old
days when you put together databases stuff in spreadsheets and
nice orderly linear columns, you got what was called big
data and firms like SAP and Oracle, the legacy names
of the past were great at organizing that stuff, but
the problem that we've got
in today's world is that the data has become chaotic.
(08:17):
It's become multifaceted. It's become multidimensional and so we've got
so much data, not many people know this, Suze, but
we've created something like 98% of all the data that
has ever been created in recorded human history within the
last five years. Now think about that for, I mean
that is a staggering figure. The average person today encounters
(08:40):
more information in a single issue of a newspaper.
That a person living in the 1700s would have seen
in their lifetime, so this has continued to accelerate and
the data continues to get more complex. The problem is,
as the data gets more complex it becomes harder to
work with. Now that's where Palantir comes in. They take
this chaotic data and they take all these nice neat
(09:03):
stacks of information that you can't otherwise access, organize, or
even make decisions with.
And they allow it to talk to each other and
the byproduct of that is that clients who use it,
whether it's commercial, whether it's corporate, whether it's government, no
matter what the application is, suddenly you can make decisions
using data you couldn't see before you can become more efficient,
(09:25):
you can increase your sales, you can increase the hospital beds,
medical treatments, specialized care. There's thousands of use cases for
what you can do with data.
Now using Palantir's products that you couldn't do even a
few years ago.
Suze (09:41):
And why is it that people write me and tell
me and yell at me for putting people's money and
recommending Palantir? What are they misunderstanding or what are they
understanding about the company that could be very dangerous to
the safety of everybody in America?
Keith (10:01):
Well, I would flip that around. There's a lot of
misinformation out there, right? And Palantir had begun, it has
its roots in helping make sense of complicated data for
the military and the intelligence community. So for a lot
of folks that is a tough pill to swallow because
they don't want to associate necessarily with the military or
with the thought that there's an intelligence group out there.
(10:22):
But they got so good at moving this data around
and anticipating things and making decisions that they begin to
expand in their commercial environment so you know this idea
that the company is suddenly miraculously surfacing out of nowhere
it's just patently false and incorrect. It's been around a
very long time and it's very, very good at what
(10:42):
it does. And the other misconception that's out there right now, Suze,
and why people are very, very upset is because there
was an article recently in The New York Times,
that is filled with erroneous information. I mean dozens of
technical errors in terms of how the process works, what
their software does, where they go, the role they play.
I mean it's just, it's amazing. CEO Alex Karp was
(11:04):
on CNBC earlier Friday I believe it was, and he said, look,
he said, 'I'm dyslexic. The New York Times has so
many errors in their article they may as well hire
me to do a spelling beat.' You know, I mean,
it's just, it's astonishing.
So if you take a few minutes and you understand
how the product actually works.
This notion of fear and suddenly surveilling Americans and it's
(11:27):
doing all these other things is not only patently false
but that's not what the software does it's not even
built into the software's capabilities. Palantir, and this will be
a very controversial statement for a lot of people, but Palantir,
if you wanted to surveil Americans or other people around
the world, is absolutely the wrong choice.
(11:50):
In fact, it's probably the worst choice you could make
if you're a bad actor because all of the safeguards
determining who accesses information, how they use it, what they
do with it exactly to the data point what they
touch is auditable, it's transparent, it is built into the
software platform, not as an add-on, which is how all
(12:12):
the legacy guys did it. So you're talking about
Suze (12:15):
a software here we are.
You say the legacy guys how they did it so.
Explain to people why, and they should understand this, why
Palantir also protects us here in the United States of America.
It's not, listen, Palantir, I don't have to know much,
(12:36):
but I do know that Palantir isn't built so that
they can spy on all of us and they can
know what we do. I mean, there are already companies
out there that know everything that we do.
Keith (12:47):
Well, the funny, the funny thing is people have voluntarily
contributed to Meta and Instagram and you know all of
these other things, TikTok, you know, people worry about the
Chinese or they worry about Palantir yet in the same
breath they go onto their Facebook account or they go
on their Instagram or they dial into their credit bureau
or they get a mortgage, they have a credit card. It's,
(13:07):
it's such a contradiction. The irony is extreme because people
are suddenly like, wait a minute, everybody's
watching when that cat got out of the bag 40
years ago and we are living in a digital world
where if you use a credit card, if you go
into a store, if you, you get on the Facebook,
social media, and even the people who are writing to you,
(13:28):
the irony, the people who are writing to you and
me and sometimes saying, well, you know, what about Palantir?
They're using technology that came from the military to begin with.
So you know, the, the irony is, is really something
every company has its own set of gremlins.
And as an investor, you gotta come to terms with
that because are you looking for the future, or are
you looking to build upon the past? If you're looking
(13:48):
for the future, profits are where you wanna be. If
you're looking for the past, then you know what?
Move 500 miles from the nearest military installation, go off
the grid, start turning your own butter, get some sticks
you can whittle at midnight, you know, there's gonna be
a very different world. You can't go off the grid anymore.
But a company like Palantir, here's the real part, and
this is the part that most people don't understand, particularly
(14:10):
in light of this New York Times article, is that
the fear is that, oh my gosh, suddenly everybody's watching this. Well, personally,
looking at this from a much bigger perspective, which is
what I do because I do investing, I don't do politics,
I don't do personalities. I gotta figure out where the
money is going. That's my job as a money strategist,
you know, a market strategist.
And what I know is that there are bad actors
(14:32):
out there. There are terrorists, there are the Chinese, there
are the Russians, there are a dozen other folks who,
if they could, would push a button and eliminate the
United States of America and consider it a good day's work, OK?
Palantir is helmed by an unabashedly patriotic CEO who is firmly,
unequivocally in defense of America and Americans. So I would
(14:58):
rather
have him out there with Palantir protecting this country knowing
full well that the Chinese and Russians and others are
desperately trying to develop their own versions of Palantir to
be used against us.
Suze (15:15):
Just to make it very simple for all of you,
you want to know what freaks me out, everybody, that
KT and I are having a conversation, and we're talking about,
let's just say surfboards. Let's just say that's true.
And all of a sudden we look on our phone
and we look at Instagram or we look at Facebook
or whatever, and there are all these ads about surfboards
(15:39):
all of a sudden up there advertising to us. So
you have to realize if you're using Siri, if you're
using Alexa, if you're using
this little phone. It is listening to you all the
time and everything that you are saying. You walk by
a store on the street and all of a sudden
(15:59):
you get an ad that says, oh, wanna come in?
We have a sale. It's like, how did they know
that I'm even walking by that particular store.
So you have to not be so freaked out when
all of a sudden a major company now is doing
contracts possibly with the government. They've been doing contracts with
(16:20):
the government for a long time, but when all of
you see the name Trump is targeting Palantir to do something,
you automatically think, oh my God, that's it, it's gonna
be the worst thing.
And what you also have to understand and Keith tell
them that doesn't mean just because Trump is targeting them
(16:42):
to do something that they're going to do it, isn't
that true?
Keith (16:46):
Well, that's
very true. And so we have the 1974 Privacy Protection
Act which is in play and it's very robust and
you know our, our the architects of that law did
a very good job. So you know it's not a
matter of the President is out there to target you.
What he actually said and and and this is important.
Because a lot of folks either can't get past Trump
(17:07):
or they just can't get past Palantir take Trump out
of it. Take Palantir out of it. Imagine you're sitting
in that office, right? And if you know that all
of these threats are out there, right, there is not
a leader in the world who would not employ the
best software he or she could buy to protect his
or her citizens. That's the crux of the argument.
(17:29):
And so if we look at this again, take Trump
out of it, you know, like him, dislike him, I
don't take sides, I do money, not politics. So if
you take him out of it.
The question to ask is, would a sitting president, would
a leader in any country around the world not take
steps to buy the very best software they could find
to help protect their citizens and their nation? And the
(17:51):
answer is unequivocally yes, they would absolutely try to protect
their citizens and their nation because that's what they were
elected to do that.
Part of the job, so you know my piece when
you look at it coldly, clinically, OK, fine, it is Trump,
it is Palantir, but if you look at the framework
of the 1974 Protection Act, you look at what the
(18:11):
Palantir software stack actually does, how it works, who controls
it in the audit trail involved.
Then the question becomes where is this actually fit within
our government? What the President actually said was I want
to build a commonly accessible, more efficient, more cost effective
database instead of relying on antiquated, outdated systems that cost
(18:33):
taxpayers billions of dollars, result in hopeless inaccuracies, you know,
from agencies A to Z in our government. Everybody knows
they're inefficient.
So this is an attempt to protect Americans make our
government more efficient, potentially move us into the next century,
and again take Trump out of it. What does this
software actually do? What could we get? What would go right?
(18:56):
Imagine calling the IRS and actually getting an answer. Imagine
having Amtrak work the way it was supposed to. Imagine
the post office being more efficient. Imagine your medical records,
your tax records, the HIPAA Act, privacy, all of these things.
Suddenly working the way that they were intended in a
pre-digital age, but in a digital age, how cool would
that
be?
Suze (19:14):
You know, the truth of the matter is, is that Palantir,
correct me if I'm wrong, Keith, had a lot to
do with helping us during COVID and the pandemic and
all of these things. So all of you take out,
not all of you, but those of you who have
been so angry at me, you take out one thing
and you blow it up and you're mad at me.
(19:35):
But all right, let's say you're like KT, OK? Sure.
And Keith experienced this the other day. KT hears the
news or watching CNN. Immediately she looks at me, she says,
'sell it.'
Now, as all of you know, KT and I have
a whole lot of Palantir, tens of thousands of shares. OK.
(19:58):
Now KT has half and I have half, and I said,
I'm not selling my half. She says, 'oh, you're, I'm,
I want to sell my half.' So she doesn't ask me,
and she sends on her email,
an email to Keith saying what should I do? All
of a sudden Keith calls. First of all, Not quite
(20:19):
believing that it's KT cause I don't think KT Keith
has ever called you before, has she?
Keith (20:24):
Well, I wanted to make sure it was really her
because to our point about digital fraud, it could have
been an imposter, right?
Suze (20:30):
And so KT now is convinced. She doesn't care. She
wants to sell. She doesn't want to have anything to
do with this stock. She is dead set against it.
And so Keith is explaining all this to her. So
I want you to imagine that maybe one of you
out there listened to us when we started to say
(20:52):
buy it at 7, buy it at 10, buy it
at 15, cause my average cost base in it is 22.
So I said to KT, now imagine you're KT. I said, KT,
if you sell just let's say 5000 shares, do you
(21:13):
realize the capital gain that you're going to pay here?
Because the difference between it's a 100% gain for you,
KT on 5000 shares. You're going to lose 20 or 30%
of that to capital gains tax anyway.
So are you aware of that? And she just kind
(21:33):
of looked at me. Now by this point, Keith is
on FaceTime with us. So, of course, I handed her
over to him, and at first she was right, dead
set against listening to either of us. Don't you agree?
Right, she was, yeah, she was like, 'no, I'm selling,'
and I'm like, you are not selling. And now we're
arguing about it, but here was the bottom line, and
(21:58):
I'll have Keith tell you what he told KT. Take
out the fact of the capital gains and all of that.
But the question becomes, when do you hold the stock?
That you are vehemently against. You believe in fact, you
don't believe a thing that we've just said to you
here on the podcast. You think Palantir is evil, you
(22:22):
don't like what they're doing, and what should you do
at that point in time? And Keith, what would you
tell them?
Keith (22:30):
Boom, if you are absolutely dead set and you wanna
sleep and this is driving you bananas and you know
what sell it and don't look back but make peace
with the fact that this company is gonna go on
without you, the future is gonna arrive whether you like
it or not, and that you're gonna miss out on
tremendous profit potential going forward.
Because investing is not about looking backwards in one of
(22:51):
our cardinal rules is you keep your emotions out of
the equation. So if you can come to terms with
the facts, with the potential with the way this is moving,
then by all means hang on to it. Stocks like Palantir,
are truly unique. They are only ones in the world
doing what they do are going to change our future,
(23:12):
change the trajectory of humanity. And what we know from
history is that every company has gremlins, but those companies
like Palantir that truly change our future are worth hanging
on to if you can stomach doing so.
Suze (23:27):
So, all of you, I just want you to know
I have trouble with Musk. I just do.
And I know that Tesla is one of these stocks
that Keith loves. You love this stock.
Keith (23:39):
Oh, I do. He drives me bananas, but I love
the stock.
Suze (23:42):
Yeah, but I just want to tell all of you
I had a very big position in Tesla, but I
sold it all, Keith. Now I understand very well that
I probably will miss out on a whole lot of
money being made in that one stock, however,
There are other stocks that I can equally buy and
(24:06):
make money, maybe not as much money, maybe possibly more money,
but for me, I couldn't stomach owning that stock. If
that's you,
When it comes to Palantir, what I would tell you
is sell it and don't look back, but don't have
regrets when you look at it and you see it
(24:27):
skyrocketing as Tesla has done since I sold it.
You can't have regrets. You have to be firm in
your conviction as to why you are selling it, and
if you value yourself more than money.
Then sell it if that is your feeling. If it's
not your feeling, don't let somebody make you feel guilty
(24:51):
about it. This podcast really is about you getting in
touch with your emotions, cause remember I've said to you
over all these years that fear, shame, and anger are
the three internal obstacles to wealth. Keith, what else, as
we're bringing this to an end, do you want to say?
Keith (25:10):
Investing in optimism,
is always more profitable and confidence inspiring than cowering in
fear and how you define that is uniquely up to
every listener on this today and what's right for one
person is different for another, but that's how you share
information that's how you learn that's how you adjust your
(25:33):
opinion because companies like Palantir force you to have a
conversation with somebody in the mirror and as long as
you're listening.
There's an opportunity there. If you shut it off reflexively,
then you know what?
That's bench level thinking, third level stuff, don't even mess
with it.
Suze (25:49):
The main thing I want to say first of all,
thank you, Mr. Keith Fitz-Gerald. Thank you. Remember all of you,
you only have a few days left to go to
musthavedocs.com/birthday to get the must-have documents, $2500 worth of the
documents you must have. Just go there and check it out. $74.
(26:12):
And until Thursday, when Ms. Travis joins us again for
an Ask KT and Suze Anything podcast. Remember, there's only
one thing I want you to remember when it comes
to your money, and it's this people first, then money,
then things. Now you stay safe. Bye-bye.
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