Is it time to dump our stocks and buy only gold and real estate? Not so fast, we’ll run it by our money wiz David Bahnsen.
You know Tony Soprano, but did you ever know James Gandolfini? JASON BAILEY, author of GANDOLFINI: Jim, Tony, and the Life of a Legend, joins us to reveal all.
National Correspondent RORY O’NEILL shares the latest on what is happening in Rome as Roman Catholic Cardinals are in the process of selecting a new Pope.
See omnystudio.com/listener for privacy information.
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Episode Transcript
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Speaker 1 (00:00):
Hi, it's Michael.
Speaker 2 (00:00):
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Speaker 3 (00:14):
Now.
Speaker 1 (00:15):
Enjoy the podcast.
Speaker 4 (00:16):
Two three, starting your morning off right. A new way
of talk, a new way of understanding because we're in
this together. This is your morning Show with Michael o'dill Charman.
Speaker 1 (00:32):
Seven minutes after the hour. Thanks for waking up with
your morning show, and.
Speaker 2 (00:35):
Welcome to Thursday, May the eighth, tiev alord to twenty
twenty five on the air and streaming live on your
iHeartRadio app.
Speaker 1 (00:42):
I'm Michael del Journal.
Speaker 2 (00:43):
Transportation Secretary Sean Duffy said to announce the plan for
overhauling the nation's air traffic control system, the FED leaving
interest rates unchanged. More on that with David Bonsen, and
most airports operated smoothly yesterday the first day of real
ID because as we allowed people without real ID to
just be interrogated a little bit, but travel anyway, and
(01:06):
cardinals are preparing for a second day of voting in
the conclave at this assisting chapel in Vatican City. Voting
will continue in the election of a new pope. Only
one vote yesterday, black smoke, two more planned for today.
You'll probably have a pope. I'd say seventy percent tomorrow,
thirty percent chance today, but time will tell for sure.
Speaker 1 (01:28):
We did this story earlier in the week.
Speaker 2 (01:32):
Fewer Americans see stocks as an ideal long term investment.
The hill showing the gallop polling on that the Dow
at its high was forty four thousand and seven hundred.
It's sitting just over forty one thousand. Now, if you
take out the overvalue, it's really not down that much.
(01:53):
But suddenly the narrative is stock suck by gold, by
real estate. I first discovered David Bonce and watching him
on Fox Business as a as an analyst and as
a guest. And then he came out with a book
on the Value of work, and I was fascinated that
an economist was also a theologians. So uh, and then
(02:15):
we've been We've been meeting weekly ever since. I highly
encourage people to go to Dividendcafe dot com. He does
weekly uh pieces there and of course he's here every Thursday.
So David, good morning and welcome. This is this should
be right in your wheelhouse. Is this the new narrative?
Speaker 5 (02:31):
Now?
Speaker 1 (02:31):
Stocks are long term a bad play? Are we?
Speaker 2 (02:35):
Are we even looking at stocks historically before we make
such statements.
Speaker 6 (02:40):
I haven't heard anybody say that, So I like it.
That sounds like exactly what I want other people to say,
so that I can I can buy them cheaper. You
always want bad sentiment around the things that you're buying.
Speaker 3 (02:58):
And uh.
Speaker 6 (03:00):
The idea, of course that stocks are a bad long
term investment has no empirical support. I think if all
of somebody means is we think in the next three
months or six months or one year stocks are going
to do poorly, then there's always people have an opinion
on it. But you know, for us, Michael Is we've
(03:21):
talked about a little bit. We don't really buy stocks.
We buy company companies that are probable, and so the
stock price is not so much the issue. It's the
ability of well scaled companies that are rather large and
sophisticated in their balance sheet and in their history and
(03:43):
in their presence in the marketplace to grow profits ober time,
and from those profits grow the portion of them that
they pay back to us in the form of a dividend.
And if people want to bet against that, they can
be my guest, But that would be a bet against
pre enterprise, right.
Speaker 2 (04:02):
I had a very influential friend, Paul Winkler, Paul Winkler,
and he does financial investment, and he's a stickler for
doing historical analysis. And again, you know, you can do
a gallup poll. You can ask people who are focused
on the moment and they'll make an opinion which will
create a polling result. But it's not based in fact,
and it's not based in reality. And if somebody would
(04:24):
have handed me one thousand dollars of gold forty years
ago compared to what my four oh when k produced
in a stock portfolio, I don't think gold would have
competed well against stocks.
Speaker 1 (04:36):
But you're so right.
Speaker 2 (04:37):
It depends on how big of a piece of a
slice of pie you want to talk about. Talk to
us about the way stocks are performing now, what you
see coming and how gold and real estate and all
that plays a role in diversity.
Speaker 1 (04:51):
Right, Yeah, Well, I.
Speaker 6 (04:53):
Don't think that real estate and stocks are mutually exclusive.
Speaker 3 (04:57):
I mean, at the end of the day.
Speaker 6 (04:59):
Okay, you mentioned that I have theological interest. You know,
I can't look at investing apart from what I believe
about the world.
Speaker 7 (05:08):
And what I believe about the world.
Speaker 6 (05:09):
Is based on what I believe about reality, and what
that means is God creating the world, what he created
it for, how he created it, what we're supposed to
be doing in it, all those things. Everything I'm doing
and investing is meant to capture an ability to get
a return out of reality.
Speaker 1 (05:29):
What is reality?
Speaker 6 (05:30):
God made human beings uniquely with ingenuity, with productive capacity,
with the ability to do great things to grow. So
real estate itself, I don't buy for the dirt. I
buy for what human beings can do on the dirt.
Speaker 3 (05:47):
I don't buy a building because I like brick and mortar.
I like.
Speaker 6 (05:51):
I buy a building because I like what human beings
do inside the building. Okay, So I myself own about
six different hotels. I think, multifamily, real estate, apartment building,
all of these different things that people look at, industrial
data centers.
Speaker 3 (06:08):
You can call it all real estate investments.
Speaker 6 (06:10):
But the real estate isn't worth anything apart from what
humans do with to do with it and the state.
And the same thing is true of companies that they
are worth anything. You can have a brand, you can
have orders, you can have inventory, but someone has to
go manage a business to the purpose of generating profits.
And that's all that we're talking about. So yeah, from
(06:31):
a diversity. Now Gold, on the other hand.
Speaker 2 (06:34):
I was just going to say, and bud Light was
the exact same beer that it did something stupid marketing wise,
and it wasn't the exact same portfolio. But I anecdotally
before you move on to Gold, anecdotally, I would tell
you and it just and I'm in one of the
rare places this could happen. But I bought a home
very well when I bought it, and then the Nashville
(06:55):
metro area just exploded. So my home value and this
will not happen often or who's doing what inside of it,
but my home value tripled in five years and it
actually produced I didn't sell it, so it's not real,
but it produced more value than fifteen years of my
four oh one K. Did almost twice as much in
(07:17):
five years as the four oh one K over fifteen years.
But that would be purely anecdotal, And at no point
did I lose any faith in stocks because my.
Speaker 1 (07:25):
Home did well.
Speaker 2 (07:27):
Nor do I, you know, I see what the ebbs
and flows of gold.
Speaker 3 (07:30):
I don't think.
Speaker 1 (07:31):
I don't know.
Speaker 2 (07:32):
I guess everybody's trying to oversimplify it and pit them
against each other, and I just don't even get the equation.
Speaker 6 (07:40):
Well, the issue with gold is somebody has to believe
that it's going higher, and then they're going to sell
it higher. They're not going to generate what's called a
coupon and interest rate from it, they're not going to
get a dividend from it, and it doesn't have an
earning stream. So gold since I was in kindergarten is
down at twenty percent adjusted for inflation. But I thought
(08:02):
the only reason you buy gold is.
Speaker 3 (08:04):
To be a great inflation hedge. So gold over the
last eighteen months has a really nice return.
Speaker 6 (08:09):
Gold since twenty and eleven is up a few percent
a year.
Speaker 3 (08:15):
And yet from twenty eleven till.
Speaker 6 (08:17):
Now, that's ten years where gold didn't go up one dollar.
From twenty eleven to twenty twenty one was literally the
most insane decade in world history for central bank craziness,
governments spending out of control, and all the monetary.
Speaker 3 (08:33):
Policy, and yet gold didn't go up a dollar.
Speaker 6 (08:36):
Now, a lot of central banks around the world have
been buying gold the last year, and that's pushed it higher.
But if central banks become like if India decides to
be a net seller of gold, which they could easily do,
then then it goes.
Speaker 3 (08:47):
Down for another ten years.
Speaker 6 (08:49):
I don't know why anybody would think they're going to
guess correctly what other people who they don't know are
going to do with gold, But that's the only way
you're going to get a return from it, So you
know when you're trying forty years.
Speaker 3 (09:01):
I mean, I don't know what long term is.
Speaker 6 (09:03):
I think forty years is pretty long term. Micl last
I checked.
Speaker 3 (09:08):
Gold did not keep up with inflation. Think about that
for forty stinking years.
Speaker 6 (09:15):
Whereas real estate and actual operating company is what we
call stocks. By definition, if McDonald's isn't raising their prices
on quarter pounders, then there isn't inflation.
Speaker 3 (09:27):
And if they are raising.
Speaker 6 (09:28):
Prices on quarter pounders, then you, as an investor, are
keeping up with inflation. You're getting the additional revenue, earnings
and dividend stream from the higher price, So dividends growing
at six to eight percent of years stock price is growing.
You know something around the same. That's the greatest inflation
hedge the world has ever seen, or ever will seen,
(09:49):
ever will see. And that's what I believe makes the
most sense.
Speaker 3 (09:52):
You're anecdote. With the real estate thing, it's very important
to say.
Speaker 6 (09:57):
There is absolutely no money made in a primary residence
unless somebody sells it and then adopts a homelessness strategy.
Speaker 1 (10:07):
Or no in one of your hotels is what I'll
do well.
Speaker 6 (10:13):
And those hotels have gone up in price a lot
and the per room.
Speaker 3 (10:16):
Rate go has gone up, and so you have to
live somewhere.
Speaker 6 (10:21):
So whenever people talk about the money they made in
the primary.
Speaker 3 (10:23):
Residence, you can sell it.
Speaker 6 (10:25):
What is a hot market, you know, over the last
several years, Nashville and Phoenix and Florida and other places
have done very well, and you can sell there at
a big profit. But then you have to go buy
somewhere else that hasn't gone up comparably, or or bank
the money and then go rent or something. I mean,
there's always a way to go about monetizing it.
Speaker 3 (10:46):
But I'm talking about. And even then, what makes the
real residents or real estate go up.
Speaker 6 (10:51):
It's a decline in interest rates combined with wage growth
or some sort of scarcity where there isn't wage growth.
Speaker 3 (11:00):
It's okay. In other words, this is what's happened in
our country.
Speaker 6 (11:02):
Why you and I have talked, I think fifty times
about a housing affordability crisis.
Speaker 3 (11:08):
If a house price goes up.
Speaker 6 (11:10):
Ten percent a year for twenty years and the wages
in that community go up three percent a year, what
is exactly the end to run here? At some point
those prices are going to correct or because of this
thing called mass people are got to pay over one
hundred percent of their paycheck for their house, which is
obviously not going to happen. So booms and busts are
(11:32):
very common in real estate, and especially common when things
go up as a significant amount.
Speaker 3 (11:38):
In a short period of time outside of wage growth.
Speaker 2 (11:41):
All right, So the headlines fewer American see stocks is
ideal long term investment. Well, if they do, they're not
seeing very well. Stocks and gold. Americans are investing in economy.
As the economy wobbles, real estate remains top investment. Stocks fall,
gold rises This is all narrative.
Speaker 6 (11:58):
Right, I know, but what kind of true narrative, like
what Americans no longer see stocks as on prim investment.
Speaker 3 (12:04):
I mean, maybe there's people saying that in a survey, but.
Speaker 6 (12:07):
I mean, there's seventy trillion dollars of ownership.
Speaker 3 (12:10):
What are they talking about? Who is exactly the sellers?
Speaker 6 (12:14):
You had one of the most volatile months in stock
market history in April. Haven't seen that kind of day
to day volatility since the financial crisis and before that
Black Monday of nineteen eighty seven. And what happened in
April net money into stocks, not net money out of stocks.
I think that the people that are overweighted in the
(12:34):
S and P five hundred index, overweighted in Nvidia, Apple
and Google, and have really put a ton of their
stock portfolio into three trillion dollar companies that they think
are going to become ten trillion dollar companies.
Speaker 3 (12:47):
I think they have a problem.
Speaker 6 (12:48):
Anyone who thinks Apple does the next ten years what
it did the last ten years is.
Speaker 3 (12:52):
Not doing the mask.
Speaker 6 (12:54):
Apple would have to grow at the rate of the
entire United States of America to generate kind of return.
Speaker 3 (13:01):
So it's just how much.
Speaker 2 (13:02):
But we've off, but we've often talked about this. How
much of the problem is what little and I don't
just mean the American people and the general public, but
even the quote unquote media and experts know about this
topic for which they report. I'll give you an example.
You know, here's.
Speaker 1 (13:17):
Gallup doing a survey on stocks.
Speaker 2 (13:19):
Well, probably thirty eight to forty percent of the people
responding in that in that polling question don't own stocks.
And because they don't own them, they're not stupid, they're
just dignorant. They're focused on other things. I mean, are
they even logically the people to talk about this too?
Let alone take that information and try to make a
reality out of it when it's just narrative. That's all
(13:40):
I was hoping for. And now I leave knowing you
own hotels too. You're just so much more successful than me, David,
it's really sickening.
Speaker 3 (13:47):
Well, look, Michael, don't make it be sickening.
Speaker 6 (13:51):
Make it make it information that I'm here for you anytime.
Speaker 2 (13:56):
My friends, no, listen, I love my younger brother, and
I'm out of everything you've done, and I'm so grateful
for everything you share with us. I really encourage people
that really love our weekly visits to go and read
the Dividendcafe at Dividendcafe dot com every week, just really
expert teachable stuff.
Speaker 1 (14:16):
What do we got this week?
Speaker 6 (14:19):
You know, I'm sitting here in my hotel in Dallas, Texas,
getting ready to fly back to New York in a
few hours, and I'm writing it as we speak, so
I'll have a little more inspiration on where Diviney Cafe
is going this week in the next couple hours.
Speaker 3 (14:31):
There's a lot of different topics that need to address.
You may have noticed we have a president who keeps
me on my toes.
Speaker 2 (14:37):
Yes he does, and negotiations with China forthcoming. That's probably
the topic for a little bit of the Dividend.
Speaker 1 (14:44):
Cafe and our conversation next week. As always, I love you,
my friend, very very much, David Bonson.
Speaker 4 (14:49):
It's Your Morning Show with Michael del Choano.
Speaker 2 (14:54):
President Trump wants the fighting between Indian Pakistan to end.
Speaker 5 (14:58):
Speaking from the whitew Trump said, the US has great
relations with both countries and he'll step in to help
if asked, and.
Speaker 3 (15:04):
I want to see him work it out.
Speaker 5 (15:06):
I want to see him stop, and hopefully they can stop.
Speaker 7 (15:09):
Now they've gotten for tat.
Speaker 5 (15:11):
Tensions between the neighboring countries intensified on Wednesday. It comes
after India's military launch strikes against Pakistan in response to
a militant attack in Kashmir last month.
Speaker 1 (15:21):
I'm Mark Neathew.
Speaker 2 (15:22):
President Trump's average approval rating is on the rise, modest
as it is.
Speaker 1 (15:27):
Brian Shook has the story.
Speaker 8 (15:28):
According to Decision Desk HQ's favorability tracker, Trump is averaging
a fifty one point seven percent unfavorable rating, which is
two point nine percentage points better than his average on
April thirtieth. However, the rating is lower than the forty
four point four percent favorable rating he held when he
first took office. The new data comes as Trump has
(15:50):
railed against polsters over his declining popularity numbers after marking
one hundred days of his return to the White House.
Speaker 1 (15:58):
I'm Brian Shuk.
Speaker 2 (15:59):
Well, the playoffs were easy to figure out right in
the East. It was going to be the Calves and
the Celtics. Unfortunately, the Knicks are now up two games
to nothing, beating the Celtics ninety one to ninety, winning
both games on the road, and the Caraves lost their
first two home games to the Pacers. So much for
the best league plans, and the NHL Panthers lost four
to three to the leaves Toronto up to nothing, and
the Stars took Game one on the road of course,
(16:21):
three to two over the Jets. Birthdays today and Rique Eglesius,
Julio Sun is fifty, little house is Melissa Gilbert is
sixty one, and the coach Bill Cower sixty eight. If
it's your birthday, Happy birthdays. So glad you were born.
And thanks for listening to your morning show.
Speaker 6 (16:38):
This is Rebecca in spring Hill, Tennessee, and my morning
show is your Morning Show with Michael del Giorno.
Speaker 2 (16:48):
Hey, it's Michael. I'm so glad you found the podcast,
and don't forget you can listen to your morning show
live each weekday morning. Your Morning Show can be heard
in great cities like Youngstown, Ohio, Nashville, Tennessee, Saint Louisa, Cremento, Phoenix,
just to name a few. You can find the your
morning show city closest to you on our website, Your
Morningshow Online dot com. And we're glad you're here for
(17:08):
the podcast.
Speaker 1 (17:09):
Enjoy.
Speaker 2 (17:09):
I bet my life you're gonna see black Smoke soon.
The question is will the third chimney be white smoke
or is it more likely tomorrow we'll get a new pope.
Cardinals preparing for a second day of conclave. Most airports
operated smoothly the first day of real ID, mainly because
we allowed people without real ID and the FED deciding
(17:30):
to keep interest rates unchanged. You know, I was a
huge fan of sopranos. I don't know quite where to
put it on the all time list of binges, but
it's one or two, that's for sure.
Speaker 3 (17:41):
Uh.
Speaker 2 (17:41):
And you just don't have the sopranos without Tony. And
you all know Tony soprano, But do you know Jim
James Gandolphini. And that's why when I saw the book,
I was sold on the title Gandolphini, Jim Tone and
the life of a Legend. The historian and author is
(18:05):
with us, Jason Bailey, Jason, you nailed it with the
name alone.
Speaker 7 (18:08):
He wasn't.
Speaker 9 (18:09):
And from what everyone I talked to told me almost immediately,
was that Jim, and that that was what his friends
knew him as was Jim.
Speaker 7 (18:17):
That Jim was.
Speaker 9 (18:19):
One hundred and eighty degrees from Tony, And so that
sort of became the entry point for me and figuring
out how to write the book was Okay, who was Jim,
who was Tony? What was the golf between them? And
when and how much did it sort of expand and
contract over the course of his life.
Speaker 2 (18:37):
I know you used a lot of things research, original reporting,
then you sat down with friends and collaborators. But in
all the documentaries and things that I have seen, or
even in just interviews.
Speaker 1 (18:47):
That's the problem.
Speaker 2 (18:49):
Everybody loves Tony Soprano, wants to meet Tony Soprano, and
they meet Jim and he is completely different. He was
so laid back here, so few words.
Speaker 1 (19:01):
There was nothing excitable about him. That's part of the
legend though, isn't it It is.
Speaker 7 (19:07):
It becomes that, yes, you know.
Speaker 9 (19:08):
And and on top of all of that, the challenge
for the biographer also is that he didn't like doing interviews. Yeah,
didn't like talking about himself. So he didn't leave me
a lot to go on.
Speaker 3 (19:19):
You know.
Speaker 9 (19:19):
I really did have to have to really probe the
memories of those who knew him, who worked with him,
and the sort of very few people he let get
close to him.
Speaker 3 (19:28):
You know.
Speaker 9 (19:28):
Steve Scharippa told me, he said he's he was a
big you know, music love in Birkenstock wearing hippie dude.
And that's just not the image that you conjure up
when you think of Tony Soprano.
Speaker 2 (19:39):
Oh well, let's start with jim Italian family I can
relate to that New Jersey, Upstatey or close enough. Would
you learn about the childhood of James Candelphini that led
to the man Jim.
Speaker 9 (19:55):
The thing that's important to understand about him from the
beginning that I think informed his entire world view was
that he came from very much a working class background.
You know, his father was born in Italy, his mother
was born here but spent her childhood in Italy, so
it was very much a son of immigrants sort of thing.
They instilled in him a really strong work ethic, and
(20:15):
when you talk about working class like that was the
way he lived his life. That working class ethos informed
how he treated people when he was on set, how
he treated those that he worked with, he saw them
as his collaborators, and the sort of generosity that he
exhibited throughout his life. Dre de Matteo told me that
she says that she thought that a part of him
(20:35):
really thought he didn't deserve the kind of financial success
that he had as a working class son of immigrants,
and so that was a huge part of why he
shared what he made with everyone around him.
Speaker 2 (20:49):
That's something you hear a lot of. Jason Bailey is
the author and historian Gandolphini. Jim Tony and the Life
of a Legend is a new book. I highly recommend
you get it everywhere great books are sold. Very generous man.
I was influenced at a young age. My dad's best
friend later became my best friend before he died. And
that's the one thing I took from sam Lespiza. Generosity,
(21:10):
And that's the kind of stories you hear about Jim.
He was just yeah, just generosity. Looking up in the dictionary,
you ought to see his face and you go, tony soprano.
Speaker 3 (21:19):
Yeah. No.
Speaker 9 (21:20):
The most sort of famous and accurate example of that
sort of generosity was that going into the fifth season,
there was a big salary renegotiation.
Speaker 7 (21:29):
It was all over the tabloids.
Speaker 9 (21:32):
People at HBO were sort of talking smack about him
and for the demands that they were making, the increase
to his value, to his genuine value to that show.
And after a lot of sort of haggling. He finally
got a nice race. The first day back after he
got that raise, he called each member of the supporting
cast into his trailer one by one, handed each of
(21:53):
them a check for thirty six thousand dollars and said
thank you for standing by me, like basically spent the
bonus on the rest of the cast because it was.
Speaker 1 (22:01):
More about the principle than the money.
Speaker 9 (22:04):
It was more about the principle than the money. And
also it was about a negotiating power that he knew
he had that they didn't, and that was always the
plan with that money, you know. And again also swore
all of them to secrecy, and no one told that
story until after he passed. Like he wasn't doing it
for good publicity, he wasn't doing it for likes on Instagram.
(22:24):
He was doing it as an honest, genuine gesture to
the people he worked with.
Speaker 1 (22:29):
Here's what I love.
Speaker 2 (22:31):
Nobody really knows about James Gandolphini's career prior to Tony Soprano.
He just almost as if he arrived on the scene
as Tony Soprano, bigger than life, perfect, polished character, I mean,
at or above anything. On Goodfellows and that's saying a
lot with Pesci. But he did have a career prior
(22:51):
to that. So take us from that Italian hard working
work ethic to how does he end up Tony Soprano
and what's to be learned in that journey.
Speaker 9 (23:01):
First of all, he starts acting in high school on
a lark. He starts doing it to meet girls, and
turns out that he just had a natural gift. I
spoke to his drama teacher and she said, when he
came into that first audition, it was just very clear this.
Speaker 2 (23:14):
See I heard writers get all the girls no no,
so it gets it everything to meet the girls.
Speaker 1 (23:21):
How Tony Soprano of him? And then where does he
go from there?
Speaker 9 (23:24):
He goes to Rutgers University at the insistence of his
immigrant parents, the first man in his family to go
to college, and does not do any theater there. They
have a wonderful theater program that he doesn't take advantage
of because he feels that a career in the arts
is foolish, is something that his working class parents won't abide.
That he has to go into a sensible line of work.
He needs to be a businessman or something. But what
(23:46):
happens is while he was at Rutgers, there was a
young woman, his girlfriend, who died in a car accident
at twenty two, and it absolutely wrecked him.
Speaker 7 (23:56):
Her name was lyn Jacobson, and.
Speaker 9 (23:57):
He dedicated later one of his Emmys to her, and
he said in that speech, she made me want to
be an actor. And what he meant by that was
that was his realization that life was too short to
live your life for anyone else, and that he had
this dream and he was going to pursue it. So
he moves to New York. He lives the life of
a struggling actor for many, many years off off off
Broadway shows, two man plays for twelve people in the audience,
(24:21):
that sort of thing, and then he lands this showcase
supporting role in True Romance from nineteen ninety three, directed
by Tony Scott and written by a then unknown writer
named Quentin Tarantino, and he has this small but incredibly
memorable role and a couple of scenes with Patricia Arquette
which are which sort of seared themselves into the memory
(24:42):
of anyone who saw it, and then spent the rest
of the nineties as a character actor, as a hired
gun he'd come in and he'd do a few scenes,
usually as a tough guy, but he would make an
impression and he would leave. And that was sort of
the career he had envisioned for himself.
Speaker 2 (24:58):
And then all changes just fine with one role, Tony Soprano.
Speaker 1 (25:02):
How'd that come upon?
Speaker 3 (25:04):
That? Was?
Speaker 9 (25:04):
That script had been knocking around forever. It was a
script that everybody liked, and nobody wanted to do because
it was so counterintuitive to television at the time.
Speaker 7 (25:14):
And this is what's challenging is I'm talking about.
Speaker 9 (25:16):
The book to like younger viewers, is to make them
understand how all the things that made the Sopranos so groundbreaking.
You know that it was on cable, that it was
an anti hero protagonist all you know, these are all
things that are cliches of prestige television now, but everyone
was afraid of them at the time. So this script
had just been knocking around, and it finally got set
(25:36):
up at HBO, which at that time had only done
one previous drama show they had Oz that started the
previous year. Aside from that, they were still for movies
and for boxing and the occasional you know, comedy show.
Speaker 7 (25:50):
So this script was going.
Speaker 9 (25:51):
Around, and his agents read it, and his managers read
this script and knew that they had to get him
in for it, even though he had said he would
never do television and also that he didn't want to
play any.
Speaker 7 (26:03):
More gangster character.
Speaker 2 (26:04):
But so ahead of his time, right, because look at
where we're at today. You can't get anybody into a
movie theater. And then if you turn on whether it's
you know, HBO or what do they call it when
you watch it after the fact, it's oh.
Speaker 7 (26:17):
On your DVR on Netflix or well, yeah.
Speaker 1 (26:19):
Well you have Netflix, Amazon, all of them.
Speaker 2 (26:23):
That's that's where all the quality writing is, That's where
all the storytelling is. That's where all the great actors are.
I mean, we've gone from a theater to that. He
was so ahead of his time. I feel like doing
Letter King Jason, Author Gandalfe, Jim, Tony and the Life
of a Legend. I don't know though, if James gandalf
(26:44):
Jim would have had much of a career, he would
have ever forever been locked in as Tony soprano, right
would it have heard him or helped him?
Speaker 9 (26:51):
I think I think he was starting to break away
from that right around the time that he passed.
Speaker 7 (26:56):
You know, one of the.
Speaker 9 (26:58):
One of the last films that he did in one
of the who that was released after his passing, as
a movie called Enough Said, which is a romantic comedy
drama and independent movie with him and Julia Louis Dreyfus,
where he's playing the romantic lead, which he had never
done in his entire career, and played it with such
warmth and vulnerability.
Speaker 7 (27:18):
And what everyone told me.
Speaker 9 (27:19):
About that role was that character was the closest to
himself that he had ever played. And what I find
fascinating about that is that so after thirty years of acting,
he finally felt comfortable being that vulnerable on screen. I
feel like he could have continued down that road. I
feel like there would have been more opportunities for different
kinds of roles, especially when you keep in mind the
(27:42):
twenty thirteen when he passed was the year that House
of Cards debuted on Netflix and was sort of the
beginning of the streaming boom, you know, where suddenly there
were so many shows and so many roles and so
much great writing. And I just can't help but think
that he might have found something at least comparable to
the quality of the soprano.
Speaker 2 (28:02):
Wow, I'm gonna phrase this like I haven't read it.
If somebody's listening, they loved Tony Soprano, They think they
know and love James Gandolphini. Are they going to love
him more or less after reading this book and for
all the research and all the interviews. Do you love
and appreciate him more or less after working on this?
(28:26):
Because I think the answer is more.
Speaker 9 (28:28):
My hope is that they have the same experience reading
it that I have writing it, which is coming away
from it loving him even more and understanding hopefully him
even more and really getting a sense of you know.
Speaker 7 (28:40):
How this genuinely good.
Speaker 9 (28:44):
Man was hit with this sort of fame that he
hadn't expected. Don't think he enjoyed, right, didn't enjoy, struggled
with it, struggled with, you know, sort of the darkness
that it brought into his life, but ultimately had such
a good soul and such a good heart that he
was able to make it through and to continue working
(29:05):
and to try to build a career and to build
a family. You know, And I think, really, if you
want to, the best sense we can have now of
the kind of person he is is to look at
a sun. Yeah, you know, to look at when you
see Number one, what a terrific actor Michael is and
number two how seriously grounded he is in all of
(29:26):
those interviews that you see him give like that. Jim,
I think would be very proud.
Speaker 1 (29:30):
Oh and.
Speaker 2 (29:32):
Jason Bailey, the historian author the book Candelphine Jim Tony
and the Life of a Legend. I highly recommend it.
Great book, great guy. Our spotlight interview with the week Ard.
Speaker 1 (29:47):
If you're just waking up.
Speaker 2 (29:50):
In the Central time zone, you have about twelve minutes
to be to work by eight o'clock.
Speaker 1 (29:54):
And here's what's happening. Top five stories of the day.
Speaker 2 (29:57):
President Trump is expected to announce a trade this time
with the United Kingdom.
Speaker 1 (30:02):
Mark Mayfield has more.
Speaker 5 (30:03):
That's according to multiple reports, which indicate the announcement will
come Thursday, This after President Trump, in a post on
truth Social Wednesday night, said he was going to announce
a major trade deal. Trump says he's going to hold
a news conference in the Oval Office, closing the post
by saying the deal is the first of many. The
expected deal comes in aid economic uncertainty caused by global
tariffs recently announced by the Trump administration.
Speaker 1 (30:25):
I'm Mark Mayfield.
Speaker 3 (30:26):
Well.
Speaker 2 (30:26):
First President Trump renamed the Golf of Mexico Golf of America.
Is he now thinking about renaming the Persian Golf? During
his upcoming Middle East visit? Tammy Trijello has more.
Speaker 10 (30:36):
Trump spoke to reporters Wednesday about his scheduled trip to
Saudi Arabia, Cutter and the United Arab Emirates, and was
asked about recent reports that he was going to rename
the Persian Golf to the Arabian Golf.
Speaker 1 (30:48):
I have to make a decision.
Speaker 10 (30:49):
Saudi Arabia and other Arab states have commonly called it
the Arabian Golf. Iran's foreign minister, however, says the proposed
name change is politically motivated and intended to anger Iranians
all over the world and agitate them. I'm tammage for heo.
Speaker 2 (31:03):
The Golden Globes is adding a new annual category. It'll
debut next year in twenty twenty six. Organizers of the
awards show announced Wednesday that an award for Best Podcast
of the Year is being introduced. A press release says
the awards show looks to honor its heritage categories while
making room for new voices and formats to be heard.
(31:24):
According to the Globes, twenty five podcasts will qualify with
just six final nominations for the award. Details for availability
and eligibility will be announced in the coming weeks. Well,
we wake up every morning at three am, but we
have a job to do. If you wake up at
three am, just because all new medical information says you're
(31:45):
completely normal, pre Tennis says that story.
Speaker 11 (31:47):
Psychology today says one third of the population wakes up
at three am about three times a week, and they
say it's a normal part of sleep. But it is
age related because as we get older, the natural sleep
cycle transitions around three in the morning. That's when we
switched between deep sleep and light sleep. Sleep Foundation says
you can drift right back to sleep if you do
(32:08):
one thing. Put your phone down. I'm bree Tennis.
Speaker 1 (32:12):
Bitch sports.
Speaker 2 (32:14):
Well, the Knicks are up two games to nothing, winning
both road games against the Celtics last night by one
ninety one to ninety. Meanwhile, the Thunder evened up their
series one forty nine, one oh six over the Nuggets.
In the NHL, Panthers lost four to three to the
Leafs Toronto up two games to nothing in that series.
Stars took game one on the road, of course, three
to two over the Jets. In baseball, Tigers eight six
(32:37):
over the Rockies, Cardinals shut out the Pirates five nothing,
Guardians beat the Nats eight to six, Dbacks lost to
the Mets seven to one. Rais lost seven nothing to
the Phillies. Brew Crewe fell big to the Astros nine
to one, Giants beat the Cups three to one, a
six to five over the Mariners, Dodgers gaffed the Marlins
ten to one, and the Podres lost four to three
to the Yankees.
Speaker 4 (32:59):
This is your morning show with Michael del Chrono.
Speaker 2 (33:04):
We're still in search of white smoke for a new pope.
As the Cardinals are preparing for a second day of conclave,
President Trump expected to announce a big trade deal with
the United Kingdom, the FED choosing to keep interest rates unchanged,
and most airports operated smoothly on the first day of
real ID, mainly because they didn't require it. But we
have had some problems this time Newark's Liberty International Airport,
(33:27):
where apparently the FAA is having some major problems that
are causing major delays in flights.
Speaker 1 (33:34):
Roy O'Neil is here with that story. What's the problem Ry.
Speaker 12 (33:37):
Yeah, Michael, we were looking at technological problems involving Newark
and the hub where the air traffic controllers actually route
some of the planes at the Philadelphia terminal radar approach control.
So that's where we saw these issues first pop up,
I guess back on April twenty eighth, but we've since
learned of another incident that happened in November of last
year as well. So today we're going to hear from
(34:00):
the Transportation Secretary Sean Duffy about some FAA upgrade and investments.
Of course, we're going to need Congress to come on
board to approve a lot of the spending due.
Speaker 2 (34:10):
Yeah, and it's going to be first of all, personnel,
because the shortage is what needs to be addressed, and
I can think of a lot of people that have
been overlooked for jobs. It could be hired, but there's
going to be some technology changes too, right, right.
Speaker 12 (34:22):
So we expect him to address the technology issues. Today
they're down about three thousand. When it comes to air
traffic controllers, it takes five, six, seven years to get
a person trained for that job, and then they have
mandatory retirement at age fifty six, so that's also been
an issue. And then when they shut down an ice
(34:42):
lup one and moved it to Philly, that caused some
other issues with some people not wanting to make the move.
Speaker 1 (34:47):
So yeah, they're still playing ketchup. That's a lot.
Speaker 2 (34:50):
Roy and Neil great reporting today as always, will look
for white smoke together and analyze it tomorrow.
Speaker 1 (34:56):
We're all in this together. This is your Morning Show
with Michael del Joine
Hi, it's Michael.
Speaker 2 (00:00):
Your morning show can be heard weekday mornings in great
cities like Tulsa, Oklahoma City, Oklahoma, Memphis, in Nashville, Tennessee,
and we got you covered in California, San Diego, Los Angeles,
San Francisco, Sacramento. We'd love to be a part of
your morning routine. We're thrilled you're here.
Speaker 3 (00:14):
Now.
Speaker 1 (00:15):
Enjoy the podcast.
Speaker 4 (00:16):
Two three, starting your morning off right. A new way
of talk, a new way of understanding because we're in
this together. This is your morning Show with Michael o'dill Charman.
Speaker 1 (00:32):
Seven minutes after the hour. Thanks for waking up with
your morning show, and.
Speaker 2 (00:35):
Welcome to Thursday, May the eighth, tiev alord to twenty
twenty five on the air and streaming live on your
iHeartRadio app.
Speaker 1 (00:42):
I'm Michael del Journal.
Speaker 2 (00:43):
Transportation Secretary Sean Duffy said to announce the plan for
overhauling the nation's air traffic control system, the FED leaving
interest rates unchanged. More on that with David Bonsen, and
most airports operated smoothly yesterday the first day of real
ID because as we allowed people without real ID to
just be interrogated a little bit, but travel anyway, and
(01:06):
cardinals are preparing for a second day of voting in
the conclave at this assisting chapel in Vatican City. Voting
will continue in the election of a new pope. Only
one vote yesterday, black smoke, two more planned for today.
You'll probably have a pope. I'd say seventy percent tomorrow,
thirty percent chance today, but time will tell for sure.
Speaker 1 (01:28):
We did this story earlier in the week.
Speaker 2 (01:32):
Fewer Americans see stocks as an ideal long term investment.
The hill showing the gallop polling on that the Dow
at its high was forty four thousand and seven hundred.
It's sitting just over forty one thousand. Now, if you
take out the overvalue, it's really not down that much.
(01:53):
But suddenly the narrative is stock suck by gold, by
real estate. I first discovered David Bonce and watching him
on Fox Business as a as an analyst and as
a guest. And then he came out with a book
on the Value of work, and I was fascinated that
an economist was also a theologians. So uh, and then
(02:15):
we've been We've been meeting weekly ever since. I highly
encourage people to go to Dividendcafe dot com. He does
weekly uh pieces there and of course he's here every Thursday.
So David, good morning and welcome. This is this should
be right in your wheelhouse. Is this the new narrative?
Speaker 5 (02:31):
Now?
Speaker 1 (02:31):
Stocks are long term a bad play? Are we?
Speaker 2 (02:35):
Are we even looking at stocks historically before we make
such statements.
Speaker 6 (02:40):
I haven't heard anybody say that, So I like it.
That sounds like exactly what I want other people to say,
so that I can I can buy them cheaper. You
always want bad sentiment around the things that you're buying.
Speaker 3 (02:58):
And uh.
Speaker 6 (03:00):
The idea, of course that stocks are a bad long
term investment has no empirical support. I think if all
of somebody means is we think in the next three
months or six months or one year stocks are going
to do poorly, then there's always people have an opinion
on it. But you know, for us, Michael Is we've
(03:21):
talked about a little bit. We don't really buy stocks.
We buy company companies that are probable, and so the
stock price is not so much the issue. It's the
ability of well scaled companies that are rather large and
sophisticated in their balance sheet and in their history and
(03:43):
in their presence in the marketplace to grow profits ober time,
and from those profits grow the portion of them that
they pay back to us in the form of a dividend.
And if people want to bet against that, they can
be my guest, But that would be a bet against
pre enterprise, right.
Speaker 2 (04:02):
I had a very influential friend, Paul Winkler, Paul Winkler,
and he does financial investment, and he's a stickler for
doing historical analysis. And again, you know, you can do
a gallup poll. You can ask people who are focused
on the moment and they'll make an opinion which will
create a polling result. But it's not based in fact,
and it's not based in reality. And if somebody would
(04:24):
have handed me one thousand dollars of gold forty years
ago compared to what my four oh when k produced
in a stock portfolio, I don't think gold would have
competed well against stocks.
Speaker 1 (04:36):
But you're so right.
Speaker 2 (04:37):
It depends on how big of a piece of a
slice of pie you want to talk about. Talk to
us about the way stocks are performing now, what you
see coming and how gold and real estate and all
that plays a role in diversity.
Speaker 1 (04:51):
Right, Yeah, Well, I.
Speaker 6 (04:53):
Don't think that real estate and stocks are mutually exclusive.
Speaker 3 (04:57):
I mean, at the end of the day.
Speaker 6 (04:59):
Okay, you mentioned that I have theological interest. You know,
I can't look at investing apart from what I believe
about the world.
Speaker 7 (05:08):
And what I believe about the world.
Speaker 6 (05:09):
Is based on what I believe about reality, and what
that means is God creating the world, what he created
it for, how he created it, what we're supposed to
be doing in it, all those things. Everything I'm doing
and investing is meant to capture an ability to get
a return out of reality.
Speaker 1 (05:29):
What is reality?
Speaker 6 (05:30):
God made human beings uniquely with ingenuity, with productive capacity,
with the ability to do great things to grow. So
real estate itself, I don't buy for the dirt. I
buy for what human beings can do on the dirt.
Speaker 3 (05:47):
I don't buy a building because I like brick and mortar.
I like.
Speaker 6 (05:51):
I buy a building because I like what human beings
do inside the building. Okay, So I myself own about
six different hotels. I think, multifamily, real estate, apartment building,
all of these different things that people look at, industrial
data centers.
Speaker 3 (06:08):
You can call it all real estate investments.
Speaker 6 (06:10):
But the real estate isn't worth anything apart from what
humans do with to do with it and the state.
And the same thing is true of companies that they
are worth anything. You can have a brand, you can
have orders, you can have inventory, but someone has to
go manage a business to the purpose of generating profits.
And that's all that we're talking about. So yeah, from
(06:31):
a diversity. Now Gold, on the other hand.
Speaker 2 (06:34):
I was just going to say, and bud Light was
the exact same beer that it did something stupid marketing wise,
and it wasn't the exact same portfolio. But I anecdotally
before you move on to Gold, anecdotally, I would tell
you and it just and I'm in one of the
rare places this could happen. But I bought a home
very well when I bought it, and then the Nashville
(06:55):
metro area just exploded. So my home value and this
will not happen often or who's doing what inside of it,
but my home value tripled in five years and it
actually produced I didn't sell it, so it's not real,
but it produced more value than fifteen years of my
four oh one K. Did almost twice as much in
(07:17):
five years as the four oh one K over fifteen years.
But that would be purely anecdotal, And at no point
did I lose any faith in stocks because my.
Speaker 1 (07:25):
Home did well.
Speaker 2 (07:27):
Nor do I, you know, I see what the ebbs
and flows of gold.
Speaker 3 (07:30):
I don't think.
Speaker 1 (07:31):
I don't know.
Speaker 2 (07:32):
I guess everybody's trying to oversimplify it and pit them
against each other, and I just don't even get the equation.
Speaker 6 (07:40):
Well, the issue with gold is somebody has to believe
that it's going higher, and then they're going to sell
it higher. They're not going to generate what's called a
coupon and interest rate from it, they're not going to
get a dividend from it, and it doesn't have an
earning stream. So gold since I was in kindergarten is
down at twenty percent adjusted for inflation. But I thought
(08:02):
the only reason you buy gold is.
Speaker 3 (08:04):
To be a great inflation hedge. So gold over the
last eighteen months has a really nice return.
Speaker 6 (08:09):
Gold since twenty and eleven is up a few percent
a year.
Speaker 3 (08:15):
And yet from twenty eleven till.
Speaker 6 (08:17):
Now, that's ten years where gold didn't go up one dollar.
From twenty eleven to twenty twenty one was literally the
most insane decade in world history for central bank craziness,
governments spending out of control, and all the monetary.
Speaker 3 (08:33):
Policy, and yet gold didn't go up a dollar.
Speaker 6 (08:36):
Now, a lot of central banks around the world have
been buying gold the last year, and that's pushed it higher.
But if central banks become like if India decides to
be a net seller of gold, which they could easily do,
then then it goes.
Speaker 3 (08:47):
Down for another ten years.
Speaker 6 (08:49):
I don't know why anybody would think they're going to
guess correctly what other people who they don't know are
going to do with gold, But that's the only way
you're going to get a return from it, So you
know when you're trying forty years.
Speaker 3 (09:01):
I mean, I don't know what long term is.
Speaker 6 (09:03):
I think forty years is pretty long term. Micl last
I checked.
Speaker 3 (09:08):
Gold did not keep up with inflation. Think about that
for forty stinking years.
Speaker 6 (09:15):
Whereas real estate and actual operating company is what we
call stocks. By definition, if McDonald's isn't raising their prices
on quarter pounders, then there isn't inflation.
Speaker 3 (09:27):
And if they are raising.
Speaker 6 (09:28):
Prices on quarter pounders, then you, as an investor, are
keeping up with inflation. You're getting the additional revenue, earnings
and dividend stream from the higher price, So dividends growing
at six to eight percent of years stock price is growing.
You know something around the same. That's the greatest inflation
hedge the world has ever seen, or ever will seen,
(09:49):
ever will see. And that's what I believe makes the
most sense.
Speaker 3 (09:52):
You're anecdote. With the real estate thing, it's very important
to say.
Speaker 6 (09:57):
There is absolutely no money made in a primary residence
unless somebody sells it and then adopts a homelessness strategy.
Speaker 1 (10:07):
Or no in one of your hotels is what I'll
do well.
Speaker 6 (10:13):
And those hotels have gone up in price a lot
and the per room.
Speaker 3 (10:16):
Rate go has gone up, and so you have to
live somewhere.
Speaker 6 (10:21):
So whenever people talk about the money they made in
the primary.
Speaker 3 (10:23):
Residence, you can sell it.
Speaker 6 (10:25):
What is a hot market, you know, over the last
several years, Nashville and Phoenix and Florida and other places
have done very well, and you can sell there at
a big profit. But then you have to go buy
somewhere else that hasn't gone up comparably, or or bank
the money and then go rent or something. I mean,
there's always a way to go about monetizing it.
Speaker 3 (10:46):
But I'm talking about. And even then, what makes the
real residents or real estate go up.
Speaker 6 (10:51):
It's a decline in interest rates combined with wage growth
or some sort of scarcity where there isn't wage growth.
Speaker 3 (11:00):
It's okay. In other words, this is what's happened in
our country.
Speaker 6 (11:02):
Why you and I have talked, I think fifty times
about a housing affordability crisis.
Speaker 3 (11:08):
If a house price goes up.
Speaker 6 (11:10):
Ten percent a year for twenty years and the wages
in that community go up three percent a year, what
is exactly the end to run here? At some point
those prices are going to correct or because of this
thing called mass people are got to pay over one
hundred percent of their paycheck for their house, which is
obviously not going to happen. So booms and busts are
(11:32):
very common in real estate, and especially common when things
go up as a significant amount.
Speaker 3 (11:38):
In a short period of time outside of wage growth.
Speaker 2 (11:41):
All right, So the headlines fewer American see stocks is
ideal long term investment. Well, if they do, they're not
seeing very well. Stocks and gold. Americans are investing in economy.
As the economy wobbles, real estate remains top investment. Stocks fall,
gold rises This is all narrative.
Speaker 6 (11:58):
Right, I know, but what kind of true narrative, like
what Americans no longer see stocks as on prim investment.
Speaker 3 (12:04):
I mean, maybe there's people saying that in a survey, but.
Speaker 6 (12:07):
I mean, there's seventy trillion dollars of ownership.
Speaker 3 (12:10):
What are they talking about? Who is exactly the sellers?
Speaker 6 (12:14):
You had one of the most volatile months in stock
market history in April. Haven't seen that kind of day
to day volatility since the financial crisis and before that
Black Monday of nineteen eighty seven. And what happened in
April net money into stocks, not net money out of stocks.
I think that the people that are overweighted in the
(12:34):
S and P five hundred index, overweighted in Nvidia, Apple
and Google, and have really put a ton of their
stock portfolio into three trillion dollar companies that they think
are going to become ten trillion dollar companies.
Speaker 3 (12:47):
I think they have a problem.
Speaker 6 (12:48):
Anyone who thinks Apple does the next ten years what
it did the last ten years is.
Speaker 3 (12:52):
Not doing the mask.
Speaker 6 (12:54):
Apple would have to grow at the rate of the
entire United States of America to generate kind of return.
Speaker 3 (13:01):
So it's just how much.
Speaker 2 (13:02):
But we've off, but we've often talked about this. How
much of the problem is what little and I don't
just mean the American people and the general public, but
even the quote unquote media and experts know about this
topic for which they report. I'll give you an example.
You know, here's.
Speaker 1 (13:17):
Gallup doing a survey on stocks.
Speaker 2 (13:19):
Well, probably thirty eight to forty percent of the people
responding in that in that polling question don't own stocks.
And because they don't own them, they're not stupid, they're
just dignorant. They're focused on other things. I mean, are
they even logically the people to talk about this too?
Let alone take that information and try to make a
reality out of it when it's just narrative. That's all
(13:40):
I was hoping for. And now I leave knowing you
own hotels too. You're just so much more successful than me, David,
it's really sickening.
Speaker 3 (13:47):
Well, look, Michael, don't make it be sickening.
Speaker 6 (13:51):
Make it make it information that I'm here for you anytime.
Speaker 2 (13:56):
My friends, no, listen, I love my younger brother, and
I'm out of everything you've done, and I'm so grateful
for everything you share with us. I really encourage people
that really love our weekly visits to go and read
the Dividendcafe at Dividendcafe dot com every week, just really
expert teachable stuff.
Speaker 1 (14:16):
What do we got this week?
Speaker 6 (14:19):
You know, I'm sitting here in my hotel in Dallas, Texas,
getting ready to fly back to New York in a
few hours, and I'm writing it as we speak, so
I'll have a little more inspiration on where Diviney Cafe
is going this week in the next couple hours.
Speaker 3 (14:31):
There's a lot of different topics that need to address.
You may have noticed we have a president who keeps
me on my toes.
Speaker 2 (14:37):
Yes he does, and negotiations with China forthcoming. That's probably
the topic for a little bit of the Dividend.
Speaker 1 (14:44):
Cafe and our conversation next week. As always, I love you,
my friend, very very much, David Bonson.
Speaker 4 (14:49):
It's Your Morning Show with Michael del Choano.
Speaker 2 (14:54):
President Trump wants the fighting between Indian Pakistan to end.
Speaker 5 (14:58):
Speaking from the whitew Trump said, the US has great
relations with both countries and he'll step in to help
if asked, and.
Speaker 3 (15:04):
I want to see him work it out.
Speaker 5 (15:06):
I want to see him stop, and hopefully they can stop.
Speaker 7 (15:09):
Now they've gotten for tat.
Speaker 5 (15:11):
Tensions between the neighboring countries intensified on Wednesday. It comes
after India's military launch strikes against Pakistan in response to
a militant attack in Kashmir last month.
Speaker 1 (15:21):
I'm Mark Neathew.
Speaker 2 (15:22):
President Trump's average approval rating is on the rise, modest
as it is.
Speaker 1 (15:27):
Brian Shook has the story.
Speaker 8 (15:28):
According to Decision Desk HQ's favorability tracker, Trump is averaging
a fifty one point seven percent unfavorable rating, which is
two point nine percentage points better than his average on
April thirtieth. However, the rating is lower than the forty
four point four percent favorable rating he held when he
first took office. The new data comes as Trump has
(15:50):
railed against polsters over his declining popularity numbers after marking
one hundred days of his return to the White House.
Speaker 1 (15:58):
I'm Brian Shuk.
Speaker 2 (15:59):
Well, the playoffs were easy to figure out right in
the East. It was going to be the Calves and
the Celtics. Unfortunately, the Knicks are now up two games
to nothing, beating the Celtics ninety one to ninety, winning
both games on the road, and the Caraves lost their
first two home games to the Pacers. So much for
the best league plans, and the NHL Panthers lost four
to three to the leaves Toronto up to nothing, and
the Stars took Game one on the road of course,
(16:21):
three to two over the Jets. Birthdays today and Rique Eglesius,
Julio Sun is fifty, little house is Melissa Gilbert is
sixty one, and the coach Bill Cower sixty eight. If
it's your birthday, Happy birthdays. So glad you were born.
And thanks for listening to your morning show.
Speaker 6 (16:38):
This is Rebecca in spring Hill, Tennessee, and my morning
show is your Morning Show with Michael del Giorno.
Speaker 2 (16:48):
Hey, it's Michael. I'm so glad you found the podcast,
and don't forget you can listen to your morning show
live each weekday morning. Your Morning Show can be heard
in great cities like Youngstown, Ohio, Nashville, Tennessee, Saint Louisa, Cremento, Phoenix,
just to name a few. You can find the your
morning show city closest to you on our website, Your
Morningshow Online dot com. And we're glad you're here for
(17:08):
the podcast.
Speaker 1 (17:09):
Enjoy.
Speaker 2 (17:09):
I bet my life you're gonna see black Smoke soon.
The question is will the third chimney be white smoke
or is it more likely tomorrow we'll get a new pope.
Cardinals preparing for a second day of conclave. Most airports
operated smoothly the first day of real ID, mainly because
we allowed people without real ID and the FED deciding
(17:30):
to keep interest rates unchanged. You know, I was a
huge fan of sopranos. I don't know quite where to
put it on the all time list of binges, but
it's one or two, that's for sure.
Speaker 3 (17:41):
Uh.
Speaker 2 (17:41):
And you just don't have the sopranos without Tony. And
you all know Tony soprano, But do you know Jim
James Gandolphini. And that's why when I saw the book,
I was sold on the title Gandolphini, Jim Tone and
the life of a Legend. The historian and author is
(18:05):
with us, Jason Bailey, Jason, you nailed it with the
name alone.
Speaker 7 (18:08):
He wasn't.
Speaker 9 (18:09):
And from what everyone I talked to told me almost immediately,
was that Jim, and that that was what his friends
knew him as was Jim.
Speaker 7 (18:17):
That Jim was.
Speaker 9 (18:19):
One hundred and eighty degrees from Tony, And so that
sort of became the entry point for me and figuring
out how to write the book was Okay, who was Jim,
who was Tony? What was the golf between them? And
when and how much did it sort of expand and
contract over the course of his life.
Speaker 2 (18:37):
I know you used a lot of things research, original reporting,
then you sat down with friends and collaborators. But in
all the documentaries and things that I have seen, or
even in just interviews.
Speaker 1 (18:47):
That's the problem.
Speaker 2 (18:49):
Everybody loves Tony Soprano, wants to meet Tony Soprano, and
they meet Jim and he is completely different. He was
so laid back here, so few words.
Speaker 1 (19:01):
There was nothing excitable about him. That's part of the
legend though, isn't it It is.
Speaker 7 (19:07):
It becomes that, yes, you know.
Speaker 9 (19:08):
And and on top of all of that, the challenge
for the biographer also is that he didn't like doing interviews. Yeah,
didn't like talking about himself. So he didn't leave me
a lot to go on.
Speaker 3 (19:19):
You know.
Speaker 9 (19:19):
I really did have to have to really probe the
memories of those who knew him, who worked with him,
and the sort of very few people he let get
close to him.
Speaker 3 (19:28):
You know.
Speaker 9 (19:28):
Steve Scharippa told me, he said he's he was a
big you know, music love in Birkenstock wearing hippie dude.
And that's just not the image that you conjure up
when you think of Tony Soprano.
Speaker 2 (19:39):
Oh well, let's start with jim Italian family I can
relate to that New Jersey, Upstatey or close enough. Would
you learn about the childhood of James Candelphini that led
to the man Jim.
Speaker 9 (19:55):
The thing that's important to understand about him from the
beginning that I think informed his entire world view was
that he came from very much a working class background.
You know, his father was born in Italy, his mother
was born here but spent her childhood in Italy, so
it was very much a son of immigrants sort of thing.
They instilled in him a really strong work ethic, and
(20:15):
when you talk about working class like that was the
way he lived his life. That working class ethos informed
how he treated people when he was on set, how
he treated those that he worked with, he saw them
as his collaborators, and the sort of generosity that he
exhibited throughout his life. Dre de Matteo told me that
she says that she thought that a part of him
(20:35):
really thought he didn't deserve the kind of financial success
that he had as a working class son of immigrants,
and so that was a huge part of why he
shared what he made with everyone around him.
Speaker 2 (20:49):
That's something you hear a lot of. Jason Bailey is
the author and historian Gandolphini. Jim Tony and the Life
of a Legend is a new book. I highly recommend
you get it everywhere great books are sold. Very generous man.
I was influenced at a young age. My dad's best
friend later became my best friend before he died. And
that's the one thing I took from sam Lespiza. Generosity,
(21:10):
And that's the kind of stories you hear about Jim.
He was just yeah, just generosity. Looking up in the dictionary,
you ought to see his face and you go, tony soprano.
Speaker 3 (21:19):
Yeah. No.
Speaker 9 (21:20):
The most sort of famous and accurate example of that
sort of generosity was that going into the fifth season,
there was a big salary renegotiation.
Speaker 7 (21:29):
It was all over the tabloids.
Speaker 9 (21:32):
People at HBO were sort of talking smack about him
and for the demands that they were making, the increase
to his value, to his genuine value to that show.
And after a lot of sort of haggling. He finally
got a nice race. The first day back after he
got that raise, he called each member of the supporting
cast into his trailer one by one, handed each of
(21:53):
them a check for thirty six thousand dollars and said
thank you for standing by me, like basically spent the
bonus on the rest of the cast because it was.
Speaker 1 (22:01):
More about the principle than the money.
Speaker 9 (22:04):
It was more about the principle than the money. And
also it was about a negotiating power that he knew
he had that they didn't, and that was always the
plan with that money, you know. And again also swore
all of them to secrecy, and no one told that
story until after he passed. Like he wasn't doing it
for good publicity, he wasn't doing it for likes on Instagram.
(22:24):
He was doing it as an honest, genuine gesture to
the people he worked with.
Speaker 1 (22:29):
Here's what I love.
Speaker 2 (22:31):
Nobody really knows about James Gandolphini's career prior to Tony Soprano.
He just almost as if he arrived on the scene
as Tony Soprano, bigger than life, perfect, polished character, I mean,
at or above anything. On Goodfellows and that's saying a
lot with Pesci. But he did have a career prior
(22:51):
to that. So take us from that Italian hard working
work ethic to how does he end up Tony Soprano
and what's to be learned in that journey.
Speaker 9 (23:01):
First of all, he starts acting in high school on
a lark. He starts doing it to meet girls, and
turns out that he just had a natural gift. I
spoke to his drama teacher and she said, when he
came into that first audition, it was just very clear this.
Speaker 2 (23:14):
See I heard writers get all the girls no no,
so it gets it everything to meet the girls.
Speaker 1 (23:21):
How Tony Soprano of him? And then where does he
go from there?
Speaker 9 (23:24):
He goes to Rutgers University at the insistence of his
immigrant parents, the first man in his family to go
to college, and does not do any theater there. They
have a wonderful theater program that he doesn't take advantage
of because he feels that a career in the arts
is foolish, is something that his working class parents won't abide.
That he has to go into a sensible line of work.
He needs to be a businessman or something. But what
(23:46):
happens is while he was at Rutgers, there was a
young woman, his girlfriend, who died in a car accident
at twenty two, and it absolutely wrecked him.
Speaker 7 (23:56):
Her name was lyn Jacobson, and.
Speaker 9 (23:57):
He dedicated later one of his Emmys to her, and
he said in that speech, she made me want to
be an actor. And what he meant by that was
that was his realization that life was too short to
live your life for anyone else, and that he had
this dream and he was going to pursue it. So
he moves to New York. He lives the life of
a struggling actor for many, many years off off off
Broadway shows, two man plays for twelve people in the audience,
(24:21):
that sort of thing, and then he lands this showcase
supporting role in True Romance from nineteen ninety three, directed
by Tony Scott and written by a then unknown writer
named Quentin Tarantino, and he has this small but incredibly
memorable role and a couple of scenes with Patricia Arquette
which are which sort of seared themselves into the memory
(24:42):
of anyone who saw it, and then spent the rest
of the nineties as a character actor, as a hired
gun he'd come in and he'd do a few scenes,
usually as a tough guy, but he would make an
impression and he would leave. And that was sort of
the career he had envisioned for himself.
Speaker 2 (24:58):
And then all changes just fine with one role, Tony Soprano.
Speaker 1 (25:02):
How'd that come upon?
Speaker 3 (25:04):
That? Was?
Speaker 9 (25:04):
That script had been knocking around forever. It was a
script that everybody liked, and nobody wanted to do because
it was so counterintuitive to television at the time.
Speaker 7 (25:14):
And this is what's challenging is I'm talking about.
Speaker 9 (25:16):
The book to like younger viewers, is to make them
understand how all the things that made the Sopranos so groundbreaking.
You know that it was on cable, that it was
an anti hero protagonist all you know, these are all
things that are cliches of prestige television now, but everyone
was afraid of them at the time. So this script
had just been knocking around, and it finally got set
(25:36):
up at HBO, which at that time had only done
one previous drama show they had Oz that started the
previous year. Aside from that, they were still for movies
and for boxing and the occasional you know, comedy show.
Speaker 7 (25:50):
So this script was going.
Speaker 9 (25:51):
Around, and his agents read it, and his managers read
this script and knew that they had to get him
in for it, even though he had said he would
never do television and also that he didn't want to
play any.
Speaker 7 (26:03):
More gangster character.
Speaker 2 (26:04):
But so ahead of his time, right, because look at
where we're at today. You can't get anybody into a
movie theater. And then if you turn on whether it's
you know, HBO or what do they call it when
you watch it after the fact, it's oh.
Speaker 7 (26:17):
On your DVR on Netflix or well, yeah.
Speaker 1 (26:19):
Well you have Netflix, Amazon, all of them.
Speaker 2 (26:23):
That's that's where all the quality writing is, That's where
all the storytelling is. That's where all the great actors are.
I mean, we've gone from a theater to that. He
was so ahead of his time. I feel like doing
Letter King Jason, Author Gandalfe, Jim, Tony and the Life
of a Legend. I don't know though, if James gandalf
(26:44):
Jim would have had much of a career, he would
have ever forever been locked in as Tony soprano, right
would it have heard him or helped him?
Speaker 9 (26:51):
I think I think he was starting to break away
from that right around the time that he passed.
Speaker 7 (26:56):
You know, one of the.
Speaker 9 (26:58):
One of the last films that he did in one
of the who that was released after his passing, as
a movie called Enough Said, which is a romantic comedy
drama and independent movie with him and Julia Louis Dreyfus,
where he's playing the romantic lead, which he had never
done in his entire career, and played it with such
warmth and vulnerability.
Speaker 7 (27:18):
And what everyone told me.
Speaker 9 (27:19):
About that role was that character was the closest to
himself that he had ever played. And what I find
fascinating about that is that so after thirty years of acting,
he finally felt comfortable being that vulnerable on screen. I
feel like he could have continued down that road. I
feel like there would have been more opportunities for different
kinds of roles, especially when you keep in mind the
(27:42):
twenty thirteen when he passed was the year that House
of Cards debuted on Netflix and was sort of the
beginning of the streaming boom, you know, where suddenly there
were so many shows and so many roles and so
much great writing. And I just can't help but think
that he might have found something at least comparable to
the quality of the soprano.
Speaker 2 (28:02):
Wow, I'm gonna phrase this like I haven't read it.
If somebody's listening, they loved Tony Soprano, They think they
know and love James Gandolphini. Are they going to love
him more or less after reading this book and for
all the research and all the interviews. Do you love
and appreciate him more or less after working on this?
(28:26):
Because I think the answer is more.
Speaker 9 (28:28):
My hope is that they have the same experience reading
it that I have writing it, which is coming away
from it loving him even more and understanding hopefully him
even more and really getting a sense of you know.
Speaker 7 (28:40):
How this genuinely good.
Speaker 9 (28:44):
Man was hit with this sort of fame that he
hadn't expected. Don't think he enjoyed, right, didn't enjoy, struggled
with it, struggled with, you know, sort of the darkness
that it brought into his life, but ultimately had such
a good soul and such a good heart that he
was able to make it through and to continue working
(29:05):
and to try to build a career and to build
a family. You know, And I think, really, if you
want to, the best sense we can have now of
the kind of person he is is to look at
a sun. Yeah, you know, to look at when you
see Number one, what a terrific actor Michael is and
number two how seriously grounded he is in all of
(29:26):
those interviews that you see him give like that. Jim,
I think would be very proud.
Speaker 1 (29:30):
Oh and.
Speaker 2 (29:32):
Jason Bailey, the historian author the book Candelphine Jim Tony
and the Life of a Legend. I highly recommend it.
Great book, great guy. Our spotlight interview with the week Ard.
Speaker 1 (29:47):
If you're just waking up.
Speaker 2 (29:50):
In the Central time zone, you have about twelve minutes
to be to work by eight o'clock.
Speaker 1 (29:54):
And here's what's happening. Top five stories of the day.
Speaker 2 (29:57):
President Trump is expected to announce a trade this time
with the United Kingdom.
Speaker 1 (30:02):
Mark Mayfield has more.
Speaker 5 (30:03):
That's according to multiple reports, which indicate the announcement will
come Thursday, This after President Trump, in a post on
truth Social Wednesday night, said he was going to announce
a major trade deal. Trump says he's going to hold
a news conference in the Oval Office, closing the post
by saying the deal is the first of many. The
expected deal comes in aid economic uncertainty caused by global
tariffs recently announced by the Trump administration.
Speaker 1 (30:25):
I'm Mark Mayfield.
Speaker 3 (30:26):
Well.
Speaker 2 (30:26):
First President Trump renamed the Golf of Mexico Golf of America.
Is he now thinking about renaming the Persian Golf? During
his upcoming Middle East visit? Tammy Trijello has more.
Speaker 10 (30:36):
Trump spoke to reporters Wednesday about his scheduled trip to
Saudi Arabia, Cutter and the United Arab Emirates, and was
asked about recent reports that he was going to rename
the Persian Golf to the Arabian Golf.
Speaker 1 (30:48):
I have to make a decision.
Speaker 10 (30:49):
Saudi Arabia and other Arab states have commonly called it
the Arabian Golf. Iran's foreign minister, however, says the proposed
name change is politically motivated and intended to anger Iranians
all over the world and agitate them. I'm tammage for heo.
Speaker 2 (31:03):
The Golden Globes is adding a new annual category. It'll
debut next year in twenty twenty six. Organizers of the
awards show announced Wednesday that an award for Best Podcast
of the Year is being introduced. A press release says
the awards show looks to honor its heritage categories while
making room for new voices and formats to be heard.
(31:24):
According to the Globes, twenty five podcasts will qualify with
just six final nominations for the award. Details for availability
and eligibility will be announced in the coming weeks. Well,
we wake up every morning at three am, but we
have a job to do. If you wake up at
three am, just because all new medical information says you're
(31:45):
completely normal, pre Tennis says that story.
Speaker 11 (31:47):
Psychology today says one third of the population wakes up
at three am about three times a week, and they
say it's a normal part of sleep. But it is
age related because as we get older, the natural sleep
cycle transitions around three in the morning. That's when we
switched between deep sleep and light sleep. Sleep Foundation says
you can drift right back to sleep if you do
(32:08):
one thing. Put your phone down. I'm bree Tennis.
Speaker 1 (32:12):
Bitch sports.
Speaker 2 (32:14):
Well, the Knicks are up two games to nothing, winning
both road games against the Celtics last night by one
ninety one to ninety. Meanwhile, the Thunder evened up their
series one forty nine, one oh six over the Nuggets.
In the NHL, Panthers lost four to three to the
Leafs Toronto up two games to nothing in that series.
Stars took game one on the road, of course, three
to two over the Jets. In baseball, Tigers eight six
(32:37):
over the Rockies, Cardinals shut out the Pirates five nothing,
Guardians beat the Nats eight to six, Dbacks lost to
the Mets seven to one. Rais lost seven nothing to
the Phillies. Brew Crewe fell big to the Astros nine
to one, Giants beat the Cups three to one, a
six to five over the Mariners, Dodgers gaffed the Marlins
ten to one, and the Podres lost four to three
to the Yankees.
Speaker 4 (32:59):
This is your morning show with Michael del Chrono.
Speaker 2 (33:04):
We're still in search of white smoke for a new pope.
As the Cardinals are preparing for a second day of conclave,
President Trump expected to announce a big trade deal with
the United Kingdom, the FED choosing to keep interest rates unchanged,
and most airports operated smoothly on the first day of
real ID, mainly because they didn't require it. But we
have had some problems this time Newark's Liberty International Airport,
(33:27):
where apparently the FAA is having some major problems that
are causing major delays in flights.
Speaker 1 (33:34):
Roy O'Neil is here with that story. What's the problem Ry.
Speaker 12 (33:37):
Yeah, Michael, we were looking at technological problems involving Newark
and the hub where the air traffic controllers actually route
some of the planes at the Philadelphia terminal radar approach control.
So that's where we saw these issues first pop up,
I guess back on April twenty eighth, but we've since
learned of another incident that happened in November of last
year as well. So today we're going to hear from
(34:00):
the Transportation Secretary Sean Duffy about some FAA upgrade and investments.
Of course, we're going to need Congress to come on
board to approve a lot of the spending due.
Speaker 2 (34:10):
Yeah, and it's going to be first of all, personnel,
because the shortage is what needs to be addressed, and
I can think of a lot of people that have
been overlooked for jobs. It could be hired, but there's
going to be some technology changes too, right, right.
Speaker 12 (34:22):
So we expect him to address the technology issues. Today
they're down about three thousand. When it comes to air
traffic controllers, it takes five, six, seven years to get
a person trained for that job, and then they have
mandatory retirement at age fifty six, so that's also been
an issue. And then when they shut down an ice
(34:42):
lup one and moved it to Philly, that caused some
other issues with some people not wanting to make the move.
Speaker 1 (34:47):
So yeah, they're still playing ketchup. That's a lot.
Speaker 2 (34:50):
Roy and Neil great reporting today as always, will look
for white smoke together and analyze it tomorrow.
Speaker 1 (34:56):
We're all in this together. This is your Morning Show
with Michael del Joine
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