Markets, Missiles & the Money Moves You Need to Know

Episode Transcript
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Speaker 1 (00:00):
Good morning, Welcome to the Money Matter Show. This is
Dave Surewood. I'm here with Todd click Junior. I'm here
with Dylan Greenberg. I'm here with Sebastian Borsini. Dean is
out of the office. It's June fifteenth, it's Father's Day.
This is the Father's Day edition of The Money Matter Show.
And since I'm the only one in the studio with
a that's a father, I expect some respect during the show.

Speaker 2 (00:20):
Oh absolutely, We'll let you do your weather station without
any there.

Speaker 1 (00:25):
You start with this respect right there. Happy, wait for
the girls you got.

Speaker 3 (00:32):
I learned so much.

Speaker 1 (00:33):
You guys are so special. I am responsible for a
lot of EV sales around town. I can tell you
that right now.

Speaker 3 (00:40):
But no, like you know, like one of the Father's
Day traditions, Well no, I guess not Father's Day, Trisian,
but Tristan a father and like a son or a
daughter that teach you how to make cars. You don't
have to do that with your tesla. I mean, everything's
just it's there, it's done.

Speaker 1 (00:52):
You're talking about change oil and happy to help you
make cars? Are you talking about work work?

Speaker 3 (00:57):
I should have said maintain cars. What I should have said, right, okay,
you know what I mean.

Speaker 1 (01:01):
Way, Happy Father's Day to everybody out there. You know
the headlines this week where there was a plethora we
were talking about the Wildcats getting into the World Series, which.

Speaker 4 (01:08):
Was yeah, the u c l A.

Speaker 3 (01:09):
Bruins did too.

Speaker 1 (01:10):
For the nineteenth were.

Speaker 5 (01:11):
Two sunners on who cares about the UCLA?

Speaker 1 (01:13):
Don't care about them? We got.

Speaker 4 (01:17):
That's like, yeah, something to do with the West, the u.

Speaker 5 (01:19):
C l A bear down.

Speaker 1 (01:21):
Either's u c l A DoD That's what there's anybody
right right right? So you had you had that the wildcast,
go Cats, uh trade deal, attentative trade deal with China,
and then it all went in the toilet on Friday
because on Thursday evening there's a.

Speaker 3 (01:39):
Lot to unpack this week. It's kind of where do
you want to start. Do you want to start at
the beginning of the week or do you start with
what everyone's thinking about and then work backwards.

Speaker 1 (01:46):
Yeah, you know, if if you go through the first
four days of the week, the market is moving towards
all time highs. Economy strong M and A and mergers
and acquisitions I p O S strong reading, lower cp
I on an lowre.

Speaker 4 (02:01):
PPI higher consumer sentiment.

Speaker 1 (02:04):
Excellent consumer centem off the charge. Yeah, but you know
it all got thrown in the in the dumpster on
a Thursday afternoon when I went on Israel said, Okay,
for twenty years we've been trying to figure out how
to stop Iran's nuclear program. I think we figured out
a way and did it the Israeally way, and that's

(02:25):
that's added a whole new level of uncertainty to the market. Yeah,
how long it goes on? Right?

Speaker 2 (02:30):
Well, and we're recording this Friday afternoon, so all we
know is what happened Thursday night and Friday morning with
the first retaliation. I'm sure by now when this there's
live Sunday morning, there's gonna be more stuff that goes
on Saturday Friday night. So it's all just gonna be unraveled,
and it's gonna be a lot of uncertainty. And I
mean that's a big reason I think the market's dropped
off on Friday too, because they just people don't want
to hold securities over the weekend exactly. They'll say the

(02:53):
uncertainty screwt. I'm just gonna raise cash, wait for Monday
and go from there because you don't know what's gonna
happen over the weekend.

Speaker 1 (03:00):
I fight the big sell off on Friday. The SMP
finished the week down four ten so to one percent,
still only two point eight percent off of the all
time high, twenty three percent off of that alt we
hit with the Trump taroffs when they started, so it
really wasn't We took about an eight hundred point drop
on Friday, the Dow did about a little over a percent.

Speaker 5 (03:20):
Market a side. I mean Friday afternoon, we were watching CNBC.
They had tele Aviva on there, and it's watching those
missiles get you know, flown toward the city. Was just unnerving.
It was horrible.

Speaker 4 (03:31):
It's not a good situation.

Speaker 2 (03:32):
But like Dave says, it's been twenty years worth of
it of Ron talking about just dismantling Israel. Israel had
enough of it. They got intel that there was they
were enriching Urani into weapons grade. They had roughly nine
nukes and according to their intelligence, and Israel decided to
take care of themselves as a preempty measure. But that
also at the same time I ran and the US

(03:55):
were supposed to have talks on this coming Sunday today,
and I ran canceled that on Friday, so who knows
what's going on the rest of the weekend after this recording.

Speaker 3 (04:03):
Obviously heard this story before. You ever remember the weapons
of mass destruction, and that's that's the only caveat you
could throw in there, right, are they Is the intelligence
actually being correct right, because they're saying that they're super close.
But we also know that Nett not whose whole regime
got elected. They passed the vote for this week, so

(04:25):
they obviously at that time had the political strength to
be able to do these attacks. They wouldn't have done
it last week. They did it specifically this week.

Speaker 2 (04:33):
There's also been I mean with the enrichment. Iran has
been doing it more and more ever since twenty eighteenhen
the US got out of that deal, and when we
were trying to get back in, we say stop funding
terrorist groups. They didn't want to in a sense, so
the deal with it died. And then from there they've
been enriching uranium more and more throughout the years, and

(04:53):
they were getting the sixty percent even ninety percent for
this isn't like out of nowhere that they got to
this level well.

Speaker 3 (05:00):
And they had been for a long time trying to
do this Iran, and in twenty ten the US and
Israeli intelligence used a project called Stuck's Net and actually
pretty much blew up their center futures that were enriching
this uranium and set them back almost a decade. Well
that decade is now here, right, So it's certainly there
has been other ways to prevent them from getting to

(05:22):
where they want to go. This seems like Israel's opinion,
it's the only option at this time. Seems like US
might have had a couple other options up their sleeve,
but at this time we are in where we are
at now. Maybe they just got Iran has said they
are going to retaliate and they're not going to have
any talks with the US on Sunday like they had
planned originally.

Speaker 4 (05:42):
Yeah, And I mean.

Speaker 2 (05:43):
It's also like it's just unfortunate that this situation has
risen to this level because Israel just gets tired of it,
probably after twenty years of saying of this country and
this government just talking about wanting to wipe them off
the face of the earth.

Speaker 1 (05:57):
No funding, Hans bluff funding Hamas, yeah.

Speaker 2 (06:00):
Yeah, and then through Gaza and then playing the good guy,
this government is not a good government. They're not looking
out for their people in the country. They just want
to do whatever they want. They want to just take
power over everything, wipe Israel off, and move on. In Israel,
it's a strong country and they're very proud of their country,
and they're going to take care of it well.

Speaker 1 (06:16):
And I think also that who's seeing a window of
opportunity here. You have a US president who's going to
back Israel. You have an Iranian or Iranian Iranian regime
that's very weak, a lot of internal unrest in Iran.
They have spent fifty percent of all the missiles they
have shooting at Israel, accomplishing absolutely nothing. It would not

(06:40):
surprise me that they maybe have three or four days
of this and they're done. They're out. They're no match
for Israel at all, and Israel knows that, and so
this is an opportunity for Israel to go in and
do it. If it stays like this, Israel and Iran,
a war between Israel and Iran. I think it ends
pretty quick. But the biggest negative is if if it expands,

(07:06):
if Iran were to try to shoot at US bases
or US ships, then the US gets involved. Then it
gets really ugly. But it seems to me like the
writing is on the wall for Iran. They just can't.
They're not in a position to. It's like me wanting
to beat up Dylan. That's just not gonna happen, you know.
I mean, he's an offensive lineman and I'm a lightweight wrestler.

(07:26):
You know, it's not gonna. It's just not gonna happen.
And Iran is not in any position to fight a
war with Israel. Other countries getting involved, China, Russia. Russia
already reached out to both Iran and Israel and said
that they would brokerr a peace agreement. Yeah I trust that, Yeah, yeah, Yeah,
let's let Russia, who's been in bed with Iran, work

(07:47):
on a piece deal for us. I don't think.

Speaker 4 (07:49):
So.

Speaker 3 (07:50):
It is interesting that if you think about the Russia Ukraine,
like we're mad at Russia for defending themselves, it seems
seems like a very similar way that Israel is to
ending themselves. I mean, Russia got word that native troops
were going on the border Ukraine, and that's why they
decided to actually put up some defenses and not allow

(08:11):
that to happen. So It's very interesting to me that
you have on one side one set of opinions, and
then when you flip to the other side of the world,
it flips.

Speaker 1 (08:20):
I don't think there's any comparison between the two personally.
Russia attacked an innocent country who did absolutely nothing to
them for no reason other than Putin wanted to put
Russia back together again before he dies, and he's in
his seventies, so we'll be going to hurry up.

Speaker 3 (08:34):
Yeah, I disagree with that's how it went down.

Speaker 1 (08:36):
How'd that work out? You know that there's no reason
for it. There was absolutely no reason for Putin to
attack Ukraine. But then that's a whole nother story. But
Iran enriching nuclear excuse me, working on nuclear weapons that
could be used against Israel. That's a problem.

Speaker 3 (08:53):
Why we've heard that story before though, I mean, we've
had the Pale guy say that back in two thousand
and one that there was that in the turn out
to be not the case. But that's also the other
thing is that, like you said, it might just be
an opportunistic window. They say that they have enrichment, they
have the backing, they have everything they need to be
able to do these strikes. Now we're in this situation.

Speaker 1 (09:12):
As we stay here on a Friday afternoon, it seems
like a pretty good window of opportunity. They've they killed
nine of the top ten Iranian officials that are involved
in the nuclear program, a couple of the heads of
their military. I mean they pretty much they're at the
head of the sname.

Speaker 3 (09:29):
There were reports that they were moving in missiles months ago.
I think they call Masad, which is Israel's yep CIA,
pretty much. And yeah, they had this plan for sure,
and they were perfect on execution, on getting the right scientists,
the right generals. That's why the retaliation took so long.
They've known from the past that they need to take
out the people who are going to call the retaliation

(09:50):
ballistics strikes, so it takes a while for them to
figure out who's going to be the next up in line.
They actually called them out.

Speaker 1 (09:55):
It's just interesting. For twenty years the world's been trying
to figure out a way to get Iran to stop
up making nuclear weapons. In Israel said, I think we've
found a way.

Speaker 5 (10:03):
By the way, my worries is about this progressing into
other country involvements.

Speaker 1 (10:07):
So I said, you have six Spans if they attack
a US base, if Yemen gets involved. But when you
look at what Israel has done to Hamas and what
Israel had done to Hesbelah and now what they're doing
to Iran, do you really want to poke the bear?
I mean if you're Yemen or one of the anyway.
This is a stock market show, so let's talk about

(10:28):
the stock market.

Speaker 3 (10:28):
Well, I mean, it's all affecting it. I mean we
know that Hesbela they already reported they're not going to
get involved with the Israel Iran thing because they're so
weakened and bad. So is that another opportunistic thing? Right?
They've taken care of Hesbela. Now you go to the
next side that you need to take.

Speaker 1 (10:43):
Think the market hats more than anything is uncertainty, and
we've got it in spage right now. And like you say, Dylan,
on Friday afternoon, you're not going to get a lot
of buyers ahead of a weekend because you just don't
know how this is going to play out. This is
brand new on Friday, and so Saturday Sunday, what's going
to happen? As you need to this radio show, there's
been a lot more missiles fly in both ways, and
the best scenario is far. I ran to say, okay,

(11:05):
let's talk. That's the best scenario, But I don't know how.
You've got to get down the road of ways. I
think before that can happen, because you have so much hatred.

Speaker 3 (11:14):
And you know, earlier in the week we got the
CPI inflation report and it came in lowered and expected.
But it's just very good place right now where the
inflation is to be able to continue. How the economy
is potentially against the rate cuts, right, I think problem
is now with higher oil. Eventually we're gonna see that
show up in the CPI and you might get a
little bit of an uptick there.

Speaker 1 (11:33):
Because they the one area that maybe in the biggest
component of the CPI is shelter, real estate and housing,
and my buddy from who's one of the top real
estate agents here in town, said it's like blood in
the streets. He said, it is so bad. The listings
are up fifty five percent. He said, there just aren't
any buyers for a number of reasons, the news backdrop

(11:56):
being one of them. This certainly doesn't help, you know,
the Israeli an attack certainly doesn't help calm nerves out there.
If that's part of the problem, the high interest rates,
the slowing of people moving here, that whole deluge we
had the from COVID has slowed down, so it's quieted down.

(12:17):
And he literally said blood in the streets. He said,
that's how bad it is.

Speaker 5 (12:21):
Not to mention it's hot. Did you guys see the
VIX this week?

Speaker 1 (12:24):
Yeah, I'm talking about that. It took up a little bit,
no big deal, And I was surprised at that.

Speaker 4 (12:28):
I was mostly on Friday, And yeah, I was down
sixteen on.

Speaker 2 (12:33):
Friday to the rates like ten year and thirty are
both jumped up about two percent as well in response.

Speaker 4 (12:37):
To all this.

Speaker 5 (12:38):
So I mean VIX was up fifteen percent on Friday.
That's not a small move.

Speaker 1 (12:42):
Yeah. Well the first Yeah, if you look at it
in terms of what you expected. When I'm sitting there
on Thursday evening watching the news backdrop, thinking what's going
to happen to the market tomorrow, I was thinking down
at least a thousand, maybe fifteen hundred. I thought that
VIX might double that kind of fear. But what the

(13:03):
VIX tells you is, and it's a very volatile index.
What it tells you is there isn't a lot of
fear because as we sit here on a Friday afternoon,
it doesn't look like it's going to be a big problem.
It looks like Israel has things under control. They can
do pretty much whatever they want.

Speaker 3 (13:24):
And along that line, we have a lot of Iranians
money is still frozen up right, so the ability for
them to continue funding along prolonged war is probably abysmal.
So there is a lot of going, like a lot
of leverage on Israel's in the US side.

Speaker 1 (13:40):
Yeah, the economy's in the toilet, the currency is in
the toilet. They're running out of they're running out of
ballistic missiles, which is the only missile that can reach Israel,
and they've got unrest. Otherwise everything's fine, you know. So,
I mean it's really a bleak period if you are
in Iatola.

Speaker 3 (13:55):
I mean, I think we also saw that with oil.
I mean, if you saw oils trading over on Thursday night,
it skyrocketed and it actually gave up a lot of
those gains. It still was up significantly, but it gave
up a lot of it. Because I think the original
fear when the headline first came out was subdued over
a couple hours when they realized, as we're saying now,
I ran just fundamentally doesn't make sense for them to

(14:17):
try to win this war because they're not going to
and so why would you put yourself in even worse situation?

Speaker 1 (14:23):
And Israel said specifically they're not targeting Iran's oil infrastructure,
so that that was one of the big fears too.
Although I don't know how much of the world's oil
output is Iran is probably I.

Speaker 3 (14:33):
Did see reports that after Iran retaliated back then, Israel
then said that they would go after the oil they ran.
So again, that's just the nature of what we're in
right now. I mean, the developments can happen any hour.
At this point.

Speaker 5 (14:48):
Were the big buyers of Iranian oil.

Speaker 3 (14:50):
Well as far as I'm aware. Right now, it's like
Russian in China is huge, So you're messing with China. Really,
you're messing with China's oil supply if if if they're
bombing that, so that could be an.

Speaker 2 (14:59):
Issue, like we're talking about before the show started, was
messed with the China oil supply. If the US gets
involved in this at all, then they're thinking, Okay, China's
trying to We're trying to make the trade deal with China.
Then all of a sudden, if we get involved in
iranium war going on that's about to do all this
oil messages with their oil, then it messages with our
trade deal with China.

Speaker 4 (15:18):
Kid. So it's something that we don't really want to
get into.

Speaker 1 (15:21):
And I think that level of uncertainty is what caused
the weakness on Friday. And understandably, I thought that the
market actually performed better than I expected. Yeah, I thought
it'd be down on thousand to fifteen hundred, was down.

Speaker 4 (15:32):
It may.

Speaker 2 (15:33):
Yeah, at the end of the day, down seven hundred
that the SMP was down about a little over a percent.
It made a little comeback during the middle of the day.
It was down aboutero point three percent. Yeah, so there
were buyers and there were good companies. I mean one
was FSLR was up about eight percent. Oracle just had
such great earnings on Thursday that it didn't even matter.
Or on Friday was up another eight percent. The Darling

(15:56):
Ipo Circle was up about twenty percent. Yeah, so you're
out of few stocks that were up just for whatever reason.

Speaker 1 (16:02):
But the good news on the on the on the
the good news for Tucson on the Israeli strikes, raytheon
hit a new all time high, and understandably and obviously
they're going to have to replace a lot of Patriot missiles.

Speaker 5 (16:16):
That was up ten percent in the postmarket on Thursday,
but I don't know what it finished up.

Speaker 1 (16:20):
I saw it up about four about four percent. Gold
gold jumped, which is understandable anytime there's on rescue your
gold up. Defense stocks as a whole jumped. Losers were
the travel related in the companies all uh and then
already skiddish real estate markets of your hotels, the cruise lines,
the airlines all sold off.

Speaker 5 (16:40):
I saw that VISASOK a huge hit on Friday because
the visa visa.

Speaker 1 (16:45):
They saw that.

Speaker 5 (16:46):
Yeah, and the reason for it was because there's a
report saying that Amazon and Walmarts are going to start
trying to issue a stable coin that way you could buy.

Speaker 3 (16:55):
All right, we're gonna explain with stable coins.

Speaker 5 (16:57):
Yeah, here's Todd.

Speaker 1 (16:59):
We're gonna time. I did a good job of putting together.
You want to do it, well, No, we.

Speaker 3 (17:04):
We'll explain stable coins first. Bitcoins different, but stable coins
are really just a digital doll.

Speaker 5 (17:10):
Explain it with the sense of the circle of what's that.

Speaker 3 (17:12):
I mean, we'll circle like what Dylan was referring to.
It was up twenty percent on Friday. It's a recent
IPO that came out, and Circle is the people behind USDC.
It's just a cryptocurrency. It's truly as a cryptocurrency. But
this cryptocurrency is not meant to go to a million
dollars or whatever you want to put a price target on.
It's meant to stay at one dollar and it's going

(17:33):
to be exchanged for always one dollar. And they do
this by when you exchange them, say one thousand dollars,
they issue one thousand USDC. They take that thousand dollars,
they buy treasuries with it. The way they make money
is on the treasury yield, right, So if they're buying
three month treasure yields, if they keep rolling that, they're
going to make it right now around four percent. You're
not getting that four percent, you're getting the access to

(17:54):
the digital dollar. Why is this valuable? Well, anyone in
the United States, it's not right. We all have US
bank counts. Everything we own is denominating US dollars, getting
US cash is very easy for US. We don't have
a use for this really, but the idea for other
countries and people who don't have US banks and can't
get access to US dollars, the digital currency of the
dollars the best way to hoard your money right compared

(18:16):
to almost any other currency on the face of the earth,
especially some of the really bad FIAT currencies. So this
is a way for those people to access pretty much
the whole investment world through digital dollars. Furthermore, now, the
reason Amazon and Walmart are looking for this is because
every time we're making a transaction with our Visa cards,

(18:37):
they have to pass a percentage to Visa for that
facilitation of the purchase. If they can issue their own
stable coin at that point, they can get around that completely.
And if you have your digital wallet filled with stable coins,
then all of a sudden they can get the true
one hundred percent price that you're supposed to be given them,
not ninety eight or ninety nine whatever deal they have

(18:58):
made up with Visa and MasterCard those companies.

Speaker 5 (19:00):
Which typically the company will make up that fee on
the back ends.

Speaker 1 (19:04):
I think a lot of the weakness on Friday with
a Visa too, was this traveler related stocks tanking. People
aren't going to be traveling there, and I gonna be
using the visa, not going to be buying airline tickets,
and so I could see that being one of the factors.

Speaker 3 (19:20):
And I totally envision a world where now that we
all have apps, Right, you have a Starbucks app, you
have a Walmart app, like everything, Sure, you upload your
digital dollars to that app, and inside that app you
have a digital wallet that you just used to pay
the same way you have Apple Pay on your phone.
You just put your phone and that's an easy solution
to their problem.

Speaker 1 (19:39):
It's going to be interesting. I know there's just a
very small group of people who have trust in cryptocurrency,
so that's a big hurdle to jump over.

Speaker 3 (19:50):
But this is the one that's truly it's backed by treasuries.
I mean, they are using your dollars by treasury. So
the idea is not to be speculative with.

Speaker 5 (19:58):
This, and it's the fact that two of the biggest
companies in the United States of America are trying to
adopt that are.

Speaker 1 (20:03):
Going to be using something that Todd just said, we
don't need. No there you go.

Speaker 5 (20:07):
No, the digital dollars, because eventually you'll be able to
do your bitcoin and pay with that at the store.

Speaker 3 (20:13):
The reason we don't need it is because we don't
have we don't need access to US dollars. But the
company themselves, they have to pay a percentage on every
single purchase we're making. If they don't have to make
that pay that one percent, that's that saves them a
lot of money.

Speaker 1 (20:26):
Yeah, and I suppose even if they have their own
credit card, they still have to pay somebody like Visa
a MasterCard to run it through the system.

Speaker 3 (20:32):
Right, but in this scenario, you win it. You know,
you would have a stable coin, right.

Speaker 1 (20:36):
I'm just saying that the educational the learning curve here
is very very steep.

Speaker 3 (20:43):
We'll see, depends on the user interface, right, depends on
how easy you can use it inside of an app.

Speaker 1 (20:48):
I was looking at the calendar for next week. We
get the Fed decision on interest rates on Wednesday, and
don't forget Thursday, market's closed. Why would the market be
closed on Thursday, June teenth? And well, you guys celebrate Juneteenth,
regardless of what you feel about Juneteenth, the stock markets closed,
and if the stock markets closed, our us being here

(21:10):
is kind of like a car dealer with no cars.
There isn't much to do right so and we can't
we can't issue checks because the banks are closed. So
there isn't really anything we can do on Thursday. So
we'll we'll be out there enjoying Juneteenth. We struck me
is that almost regardless of what's on the calendar for

(21:31):
next week, it really doesn't matter. Tell me what's going
to happen with Israel and Iran, because until we get
some resolution to that, or until it expands, or until
it contracts, or and tell us, we've got to have
that stabilize somehow, and hopefully by the time this is airing,
we'll have some stability. I hope.

Speaker 3 (21:51):
So, and that's exactly what the Federal Reserve is going
to say. They're most likely just going to hold rates
again and then say, well, there's too much uncertainty to
even give a projection on, and we're going to start
cutting rates.

Speaker 1 (22:01):
I can't imagine that they would cut rates in this
environment right now, They're just there is no reason to.
It would be a shocker, wouldn't it. It would be
a shocker matter what the odds are. But they gotta
be somewhere around eighty five percent of games.

Speaker 3 (22:13):
I think it's more. Yeah, it's very BUSI that's not
going to happen.

Speaker 1 (22:16):
He just watching the NBA playoffs. I am, well, it's
the finals now, yeah, yeah, yeah, the NBA Finals. It's
the two small market teams are teaming up to bring
in the worst TV ratings since nineteen eighty eight.

Speaker 3 (22:30):
It makes sense.

Speaker 1 (22:31):
How about that nineteen eighty eight, thirty seven years ago
since the TV ratings with this bad for the NBA finals.
Now here's the good news for the NBA. There's still
nine times as many people watching the NBA Playoffs as
the Stanley Cup playoffs, which I have no audience.

Speaker 4 (22:50):
Which is crazy because that was an entertaining game.

Speaker 1 (22:53):
Canada. I guess Canada's making Canada.

Speaker 4 (22:55):
They are the oilers.

Speaker 3 (22:56):
Also, if you ever go to like a hockey game,
that thing is packed. They're fanatical.

Speaker 2 (23:03):
If you watch the Stanley Cup on TV, you can
feel the energy. I mean, people love it is. I
don't know why it doesn't get more. I think because
it's hard to understand the game for a lot of people.
Hard doesn't play, hard to watch, who doesn't play like
I mean, I watch it. I don't know all the rules,
so I'm kind of just enjoying it. But I mean
last night, I guess Thursday night they went it was
a great game.

Speaker 3 (23:21):
You know what, I think My problem with hockey is
it's not because I don't I'd love how I understand
the rules, And I think it's the same problem I
have UFC. Once the last names get beyond twelve letters,
you know, it's hard to like there.

Speaker 1 (23:33):
Aren't a lot of Americans playing It's hard to remember
watching women's golf, right, women's golf. They're not a lot
of Americans playing women's golf.

Speaker 3 (23:42):
And the reason I bring up UFC, they're part of
t k O. UFC's ratings just seems to keep like increasing,
they keep it greating, but the popularity is gonna decline
if they don't keep getting the new big names that
we all want to go.

Speaker 1 (23:56):
My grandson, my grandson is eight years old, and boy,
he is all in on side soccer and this soccer
is his world. And so I've been really, really really
trying hard to learn soccer, but honestly, I can't stay
awake for a whole game. We'll be back, We'll be
back with more than moneymatter show after this commercial message,

(24:16):
thanks again for joining. I appreciate it.

Speaker 5 (24:18):
Welcome back to the Money Matter Show. My name is
Sebastian Borersenihim here with David Sherwood, Dylan Greenberg and Todd
Glick Junior. Before we go any further, I got a
quick disclaimer. This show is sponsored by the Greenberg Financial
Group and you can listen on seven ninety KNSD or iHeartRadio.
This show discusses different investment products and strategies. Every product
in strategy have some type of an inherent risk, and
we strongly encourage our listeners to understand the risk to

(24:39):
determine whether to buy, sell, or hold. Shows on has
been on air for over thirty years. The Greenberg Financial
Group is registered with the SEC. Visit our website at
Greenberg Financial dot com. For some more information, you could
give us a call at five two zero five four
four four nine zero nine. I'm gonna pass it over
to Todd and he's gonna tell us a little bit
more about bitcoin. All right.

Speaker 3 (25:00):
So, yeah, Bitcoin continues to reach new all time high,
so people continue to ask us what it is and
how it works. So we're going to give a quick
synopsis of what exactly Bitcoin works, and it's as we know.
It is a digital type of money, but unlike dollars
or coins, it is not printed or created electronically by government. Instead,

(25:21):
it operates on a global computer network, a bit like
a group project where thousands of people each keep a
copy of the same notebook. Every time someone spends or
sends bitcoin, that transaction is recorded in this digital notebook
which everyone can see, but no one can erase or rewrite.
This notebook is what we call the blockchain, and each

(25:42):
page added is a new block all right.

Speaker 1 (25:45):
I love that analogy because it kind of makes you,
you know, you hear blockchain and well, I love recording.
That really puts it. I thought it was a great analogy.

Speaker 3 (25:53):
And people are like, okay, well, how do you add
a new page? Well, a new page is added to
the notebook is something that is very important to the
network because as these transactions are added to the new page,
they need to be confirmed as real, like they're not
going to be double spent or they're fraudulent. That's where
mining comes in. No, you're not actually mining physical dirt,
and these are actually just giant math puzzles that need

(26:16):
to be solved to unlock the next page to confirm
each transaction. The first computer to solve the puzzle earns
the right to add the next page of transactions to
the notebook add the block to the blockchain. By doing that,
they get rewarded with the newly created bitcoin. So when
we're talking about the bitcoin having, we're saying that the
reward that the miners get for unlocking that new page

(26:38):
is cut in half. That happens every four years. But
here's the key. Before the computer can submit the page,
the rest of the network checks every transaction on it.
If anything looks fake, like someone trying to spend the
same bitcoin twice, the page is rejected, and it's only
when all the transactions pass the test does the new
page get added more or less. That's how the new

(26:58):
blocks get added to the bitcoin blockchain.

Speaker 1 (27:01):
All right, beautiful, So.

Speaker 3 (27:02):
You're gonna have twenty one million over the course of
the next well twenty one million total. We already have
about nineteen million in circulated supply. As people keep unlocking
new blocks and adding blocks to blockchain, there's about two
point sixty five bitcoin that gets released to the people
who actually minded. Then that gets caught in half. Starting

(27:23):
twenty eight, twenty thirty two, every four years after that
going to about twenty one to thirty and then there's
no more bitcoin rewards.

Speaker 5 (27:30):
So there's a finite supply. It's limited. And then on
top of it, I think you should talk a little
bit about the all the lost bitcoin out there or
seize bitcoin that you've mentioned before, because that takes away
from the supply.

Speaker 3 (27:42):
Yeah, there's a lot of famous stories of how people
have lost their passwords and they're not able to access
their bitcoin anymore. That means they're also never going to
be able to sell that bitcoin ever again. And there
is reports of anywhere from two to three million bitcoin
have either been confiscated and we know the US have
through said we're not going to sell any other bitcoin
that has been confiscated by the US or it's just

(28:04):
been truly lost. That means roughly, you know, ten percent
of the network will never get sold. So there really
is probably only around eighteen to nineteen million that will
ever be truly able to be used for commerce or saving.

Speaker 1 (28:16):
What a good percentage of that is steaked, right, steak
are set aside, it's not available for trading.

Speaker 2 (28:23):
There's always a story of a guy who had had
his password on a flash drive and he accidentally threw
it away, and there's a landfill and he's been trying
to buy the landfill so he can go look through
it and get his password back.

Speaker 5 (28:33):
Yeah.

Speaker 4 (28:34):
Yeah, they haven't let.

Speaker 2 (28:35):
Him buy it yet, but you're desperate when he got
hundreds of million dollars worth of bitcoin down a flash drive.

Speaker 3 (28:41):
Yeah, And for me, the real technology that that bitcoin solve, Well,
the problem bitcoin solves is what gold isn't it's you
can't easily fractionalize gold. I can't just shave off piece
of gold and go to the store. It's very hard
to transport gold. It's hard to keep gold secure. Right,
there's a lot of gold can even like not hold
its true. There's a lot of problems with it. When

(29:02):
you make a digital version of gold, you answer all
those questions. And that's what bitcoin has been designed to be.

Speaker 1 (29:09):
Thank you, Tipshire. I've got a housekeeping issue I wanted
to bring up from last week. Last week, during the
first hour, we discussed rare earth minerals in detail. We
talked about what they are, how they're used, and why
they're important. In the second hour we mentioned them again
and we said we couldn't understand why they were called
rare earth, when in fact they're more common than gold.

(29:32):
Turns out, the term goes back to the seventeen hundreds.
Rare earth minerals goes back to the seventeen hundreds when
they were first discovered. At that time, they were in small,
hard to isolate quantities, and we're hard to identify with
the technology that existed at that time. Thus rare. Oh,

(29:52):
that's why they're called rare earth minerals. We had to
in the second hour mentioned that someone took that as
us not undernderstanding what rare earth minerals were. And if
you listen to the first hour of the show last week,
you would know that that is as far from the
truth as you can get.

Speaker 5 (30:09):
Must have missed it.

Speaker 1 (30:10):
We have some details. I'm sorry you missed the first
hour of the show.

Speaker 5 (30:15):
Missed, sir, nice. MP calls well up like fifteen percent
this week.

Speaker 1 (30:19):
The MP is a stranger and you want to talk
a little bit about MP. Yeah.

Speaker 5 (30:22):
MP Materials is just a rare earth miner here in
based out of I believe Vegas.

Speaker 4 (30:28):
They mine in California.

Speaker 5 (30:30):
Yeah, okay, California.

Speaker 1 (30:31):
It's a mountain pass mine as what they call it
MP Mountain Pass. Mind, it's the only operating rare earth
mine and processing facility in the United States. Stock had
rallied sixty percent this year on concerns about those rarer
supplies from China, jumped to another twelve percent last Monday.
Morgan Stanley raped it to a by saying the company
is going to enjoy strategic value as political tensions with

(30:54):
China make the critical minerals more uncertain. And I thought, well,
what happens if you get in agreement with China. Well,
we got attentive agreement on Tuesday, a six month I
dropped fifteen percent, and then it was we figured out
that it was going to be a six month ago
that Swiss stock went back up to the high.

Speaker 5 (31:11):
That's what it was. It was they came up with
the agreements or the license, and then stock plummeted obviously
because we're going to source all of our rare earth
minerals from China still and then it was actually only
six months, so okay, what happens after that six months?

Speaker 1 (31:26):
And they jumped again after the Israeli attack, on thought, well,
China was going to be angry about that, and there
goes our trade deal for our rare earth minerals. The
Canada and Mexico both have substantial supplies of earth minerals.
Seems to me we ought to be spending a little
more time working on those exploring there, letting China grab

(31:48):
us around the neck and hold its hostage for something
like that. I think the Chinese market was unchanged on
the weekend. Ours was virtually unchanged, down four tenths of
a percent on the S and P. European market was
down about one percent. DoD you mentioned oil jumped eight
and a half bucks to seventy three dollars.

Speaker 5 (32:05):
I want to go back to MP materials just real quick.
We don't give advice on the show because we do
not know your risk tolerance. It's important to note this. Yeah,
there's a it's a big buzzword right now, rare earth minerals,
but if you actually take a look at this company's earnings,
they don't make money yet it's negative.

Speaker 1 (32:21):
The good news is they don't have a PE, so
you can't say they're PE because they've got no E, right,
and you have to have an E to have PE.
And a lot of companies that have been like this
start eventually got an E and that was the end
of the one because now they have a PE and
you're going, oh my goodness, the valuation of that thing

(32:42):
is off the charts. But you make a good point.
We can't recommend. We're not recommending any stock to anybody.
We're making comments about things we saw during the week,
observations about trends that we're seeing. If you'd like us
to look at your portfolio, give you some advice, we're
happy to do that no charge. If you want us

(33:04):
to do a risk analysis, we can do that. Todd,
Dylan Sebastian are all doing financial plans every day still,
every single day. And if you have not yet gotten
your free financial plan, and it's not free because it's worthless.
It's free because we're using it as a loss leader,
like so many businesses do to get people in the door.

(33:28):
And it's been very effective. But we're happy to do that.
Some become clients, most don't. Is that accurate? I was
des ackered, didn't it? Yeah? I mean, we're we're happy
to do that. It's something that we're willing to do
as a public service in the hopes that you will
see us, see our buildings see our operations, think, oh god,

(33:50):
these guys are good at what they do. I'd like
them to help me and that we would get involved
that way. Bitcoin actually finished the week fractionally higher at
a rough day, and it's very volatile boxes around, isn't it. Yeah.

Speaker 3 (34:03):
I mean it had a really strong weekend before Monday's open,
so I think that's why it looked up on the week.
But as the no, it never truly closes.

Speaker 1 (34:13):
Yeah.

Speaker 3 (34:13):
I think technically speaking, it held in very well, and
I'm still very bullish probably one.

Speaker 1 (34:19):
Yeah, I think I saw it last weekend a week
ago at about one ten, one ten and a half
something like that.

Speaker 3 (34:24):
And again I mean I think long term speaking, I
mean Gold's market cap is about thirteen trillion, seems like
that's still growing. Bitcoin is only about I think one
point five or two trillion right now, so I mean,
if it can take even a quarter or a half
of what that is.

Speaker 1 (34:41):
Bitcoin is literally in its infancy, and there's not a
week goes by that you don't speech some company the
announcing that they're going to buy more bitcoin for their treasury,
or who was a game stop sold some revertible bonds
to buy bitcoin.

Speaker 3 (34:55):
When you start putting in bitcoin with these some of
these fixed income assets that createtivity. I mean, it's it's
it's Wall Street's new favorite toy, you know. So they're
really trying to find all the different ways that that
that they can use it. Right now, and I don't
know if you heard, but there's now credit cards from
Gemini and Coinbase that you can use and they'll give

(35:15):
you up to four percent cash back in bitcoin.

Speaker 5 (35:18):
Coin Base is a American Express.

Speaker 2 (35:21):
Yeah, it's like how if you have MX normally you'd
get like airline miles if you spend three granted in
the first three months or something. They give you bitcoin
worth two hundred dollars if you spend three thousand the
first three months.

Speaker 1 (35:32):
So we have to you open up a bitcoin account
with them, and they.

Speaker 4 (35:35):
You open up a Gemini card account.

Speaker 1 (35:38):
We'll be back coming up to the end of this segment.
We'll be back with some more information right after this break.

Speaker 2 (35:43):
Welcome back to the Money Matters Show. So we've got
the CNBC Disruptor fifty list. You see that last week,
and Duriel, I think that's how you say the company.
They're a defense company based out of California.

Speaker 4 (35:57):
They are the number one.

Speaker 2 (35:58):
They got open ais number two, to Bricks number three,
Anthropic number four, and Canva number five.

Speaker 4 (36:04):
It was an interesting one to me.

Speaker 5 (36:06):
Canva, that's kind of Andrel was ahead of open Ai.

Speaker 2 (36:09):
Yeah, they I think they switched because last year Andro
was number two. What was the four fourth one Anthropic
which is Amazon's AI.

Speaker 3 (36:16):
Oh okay, okay again, I mean you're seeing two out
of the top five AI. Canva is largely AI driven
for really three at the top five. Then you look
in the Adrell business that is AI two for drones.
So yeah, it's all AI and that.

Speaker 2 (36:30):
And Andrell is the founder invented Oculus sold it to
Facebook back in twenty.

Speaker 3 (36:35):
Fourteen at nineteen years old. Yeah, he invented He made
Oculus rift the goggles and sold at nineteen.

Speaker 2 (36:43):
To Facebook or at the time Facebook, they had a
huge falling out him and Zuckerfer didn't like each other.
Now Meta just signed a deal with them to do
some what was it they just signed a deal.

Speaker 3 (36:53):
For We talked about it last week. I felt like Ago.

Speaker 2 (36:56):
Ski escaping my mind right now. But they signed a deal.
They made amends, and now he's back working with him.
But the guy took that money that he sold form
Oculous and built this company. He's a he's thirty two
years old now, he's just a genius.

Speaker 1 (37:09):
Oh yeah, he was nineteen at the time.

Speaker 3 (37:11):
And they've talked about They asked them on CNBC if
they're have talked about going public, and they definitely do.
He said, we've made this company to go public, so
that's going to be a really hot ipe.

Speaker 1 (37:21):
Oh, I would think you. And it seems like all
of the iPods are hot now, even the ones.

Speaker 4 (37:24):
You look at it and go, yeah, you got chime
Chime Financial.

Speaker 2 (37:28):
Yeah, that cat fintech company that came out last week,
the ipodo twenty seven dollars. They started trading forty three
dollars Friday. They took a hit down the mid thirties.

Speaker 3 (37:36):
But Chime reminds me a lot of Dave. If you
look at the Dave app, which is another financial app.
I'm not talking about you, Dave, and there was a
stock called Dave.

Speaker 1 (37:44):
Nobody took my app yep.

Speaker 3 (37:45):
Look it up. So Dave is actually it's killed it
on the last year. I think it's up like three
hundred percent or something like that. It's insane. But they
have commercials you'll see him on ESPN or whatever, and
just another kind of chime alternative.

Speaker 1 (38:02):
Really, it's just the most common you know, Dave is
I've lived with it for a while. It's the most
common name out there. I think. I don't know what
the most common name in America, but I think, and.

Speaker 3 (38:11):
You know, the the name Dave is for this bear
like that's is what it's. There are logos of bear,
like a little cartoon bear, and they call Dave.

Speaker 1 (38:19):
I know that if you want to empty a theater,
you just stand behind the people and to go Dave.
You got a call and empties out. I was standing
in truth in the narthext number five of us. When
we're all named Dave, all of us, all five.

Speaker 4 (38:31):
Mm common day one syllable, it's easy.

Speaker 1 (38:36):
Might might might as well have a little Dave convention here, huh.

Speaker 4 (38:40):
Got GM. You see the news on them.

Speaker 2 (38:42):
They're planning to invest four billion dollars in the US
manufacturing plants and response to all these tariffs going on.
It'll add the production of the Blazer and the Equinox,
which is currently built in Mexico.

Speaker 4 (38:51):
They're going to.

Speaker 2 (38:52):
Add them to the constrict to the manufacturing in the US.
So companies are moving to the US and response to
these tariffs.

Speaker 1 (38:59):
How about that? How about that Boying wrecking in India
with a three hundred and forty two people on board two.

Speaker 4 (39:06):
One person walked away, walked away. Yeah, he didn't get live.

Speaker 1 (39:09):
He walked away.

Speaker 4 (39:11):
You walked out of the fires as.

Speaker 1 (39:12):
Three and forty one. Excive me, two hundred and forty
one out of two hundred and forty two die and
you walk away.

Speaker 5 (39:19):
It's a couple of scratches on your face, but you're walking.

Speaker 4 (39:21):
I mean, it's crazy.

Speaker 2 (39:22):
Like I saw the video from like a distance one
and it just it looked like it just failed. The
engines failed, something failed on it, and it just slowly
went down and then in the distance you just see
a big ball of flame pop up. I don't know
how that guy could walk away from that. Yeah, it
was wild not his time.

Speaker 1 (39:37):
Down five percent. Boying dead, of course, that's the one
risk you have with Boying. Boying been a tema recently
after losing ground arrival Airbus. Over the last few years.
The company has received more than twice as many orders
as Airbus has this year, so they're they're catching up.
But the crash, of course, doesn't help. Uh, but let
Nick say, really on the recovery mode big time. Yeah.

Speaker 3 (40:00):
I mean that's because Lutnick even was on See earlier
in the week and said Boeing always comes great out
of these deals, referring to the China trade deal and
before that the UK Trader they said that they're going
to buy Boeing jets. It does seem like Boeing is
going to continue to get benefits from these ongoing trade
deals as they come about, so other than this short term,
and there is some risk of it being an engine failure,

(40:21):
so it probably would go back to Boeing.

Speaker 1 (40:23):
Right, Well, that's Pratt and Whitney.

Speaker 3 (40:25):
Well that's what I kind of was I was thinking.

Speaker 1 (40:27):
But right, Pratt and Whitney's owned by Raytheon, isn't it right?

Speaker 3 (40:30):
So wrong company got here. I mean, obviously it seemed
like all the reporters are saying it's the engine failure.

Speaker 2 (40:35):
So I don't know a lot of people are going
to sell Bowing though with that, because it's just the
press that's going to come along with it. And it
reminds you of a few years ago when they have those.

Speaker 1 (40:42):
Crashes and what you're dealing in the fear you have,
Like you just said, the fear you have is that
this is the beginning of another one of those periods. Yeah,
uh you know that? Oh my goodness, Hey, you want
a fun fact? Sure, I got a fun fact. You
guys are all single? Right, Well, guess what? No married men?
On average? None of you are married. You're married. Married

(41:05):
men on average live two to three years longer than
single men, right to which I thought, or does it
just seem like two to three years longer? But do
we know why?

Speaker 4 (41:17):
Yes?

Speaker 1 (41:17):
Because your wives would make you eat better, drink less,
exercise more, and go to the doctor more often.

Speaker 3 (41:25):
Yeah, but what about the increased stress the fun.

Speaker 1 (41:28):
Police are on are doing their job? Todd? If you
ever looked at the word manslaughter? Yeah, and look if
you really look closely at if you put a space
between the S and the L laughter man's laughter, how
does that become? It's kind of weird.

Speaker 4 (41:46):
Got too much time on your hands?

Speaker 1 (41:48):
Apparently?

Speaker 4 (41:49):
Apparently it's father's dead.

Speaker 1 (41:50):
Okay, So I got a really good one though, Happy Hour.
I know you guys are big on Happy Hour? Right?

Speaker 3 (41:55):
Do you use AI yet for your jokes? Do you
use AI yet for your jokes? At least they it
can come up for a little better ones.

Speaker 1 (42:01):
So there's no joke involved.

Speaker 3 (42:02):
These are facts.

Speaker 1 (42:04):
I'm giving you facts, Todd. The psychopedia is not supposed
to be funny.

Speaker 3 (42:08):
Man's laughter.

Speaker 1 (42:10):
Google's not supposed to be funny, Todd. It's supposed to
be informative. This is really important happy hour, right the term?
Get this? I don't think you're gonna I would have
never gotten this one hundred years. I tripped over this
last week and wow, that's amazing. Actually I got it
from pawn Stars.

Speaker 5 (42:28):
In pond Stars, I'm on the edge of my seat.

Speaker 1 (42:31):
The term originated in the Navy as an allocated period
of time where sailors engaged in various forms of athletics
to boost morale. That's happy hour. Boy, has that deteriorated?

Speaker 4 (42:45):
That has changed a lot over the years.

Speaker 1 (42:48):
Right down there, right down the toilet.

Speaker 4 (42:49):
It depends who you ask, if that's the de seriator
or not.

Speaker 1 (42:52):
Hey, Well, one thing I was wondering last week, why
is there any specific reason why the tariffs have really
not showed up yet in CPI? Cause we got CPI
last week, which was good. We got PPI, which was good.
Companies hoarded imported goods. You remember when they were hoarding
goods in March and April ahead of the tariffs. So

(43:12):
that's one of the reasons. Given the time it takes
for charges to make their way through the system, that's
another excuse that I was hearing, and the lack of
pricing power with the economy being good but not being gangbusters.

Speaker 3 (43:27):
Yeah, I think I saw the same article. I think
the point they also missed on that is there's a
lag in housing, and we are now in that lag
period that we've been waiting. Housing is the biggest component
of CPI. It's going to weigh it down. Oil too,
until this week was very low, right, So both of
the two biggest components of CPI were deflationary, which was

(43:48):
helping keep that low. We might see that change, like
you said, with companies going through their inventories that they
were hoarding. As well as not oil being higher, we
may potentially see a little bit of an uptick on
the inflation numbers the months to come.

Speaker 1 (44:00):
I think we all agree that the oil prices are
probably not going to stay here, don't we.

Speaker 3 (44:08):
Well, I mean seventy three seventy four dollars to have
that we have to agree that there's not going to
be any more escalation anymore.

Speaker 1 (44:14):
That's a good point. It's the escalation if they take
out a Ram's oil industry. You know, that's that's the
whole nother story. So, but it seems like if this
thing goes down in the perfect world, I guess it
probably doesn't stay in the seventy two to seventy three area.
But Dylan, I think to your point last week, it's
probably going to show up in the pump pretty quickly.

Speaker 4 (44:33):
Getting over the seventies. It got there a little quicker
than we thought.

Speaker 1 (44:36):
Yeah, you said last week, I don't think it's going
to be there. This gets over seventy, Well, guess what
it did.

Speaker 2 (44:40):
Yeah, I heard Todd saying is weekly up that he
doesn't puts it on Facebook gets gas?

Speaker 4 (44:44):
Why you can't? Why you can because it's going to
go up in the next week. And I agree.

Speaker 3 (44:48):
So I filled up Friday morning.

Speaker 4 (44:49):
I gotta go fill up this weekend.

Speaker 3 (44:51):
It doesn't happen that quick, but yeah, by probably Tuesday,
we're all going to see a little bit of an entry.

Speaker 4 (44:56):
It was pretty low.

Speaker 2 (44:56):
I mean I saw gas anywhere from two eighty five
to two ninety five. I've coming up first Avenue from
Camp from Broadway, and it's probably it'll probably get over
three again, but I don't see it huge jump.

Speaker 1 (45:09):
It'll be interesting to watch because we know that they
they jump it as quickly as they can. It goes
up much quicker than it comes down. If you know
that for a fact, Yes, yes, yes, and yeah, I
won't know. I'll have to I guess I'll have to
watch for the signs and stuff because I don't buy gas. Yeah, sorry, yeah,
you know, it is what it is. Okay, some people, Hey,

(45:30):
the ends the major indecees. When do you I got
this from our client Mike. We were talking about this
last week. The Dow was formulated in eighteen ninety six.

Speaker 3 (45:42):
Yeah, one hundred and twenty nine years old.

Speaker 1 (45:43):
Eighteen ninety six, the Dow Jones Industrial Average, S and
P five hundred. You say, well, what's the S and
P done over the last hundred years, Well, it's only
been around since nineteen fifty seven, so I don't know.
The S and P was formulated in nineteen fifty seven.
The tech heavy Nasdaq one hundred, nineteen eighty five. I
was actually in the business for a few years without

(46:05):
a Nasdaq one hundred. What about without the Nasdaq, there
was no NASDAK. Yeah, so NAZDAK one hundred came before
Nasdaq as well. The NAZAK one hundred is one hundred biggest,
so it doesn't that there would be a Nasdaq.

Speaker 3 (46:20):
We got to look at it when the Nasdaq exchange was.

Speaker 1 (46:23):
I'm thinking before that, then the Nasdaq one hundred would
have been put together by some opportunistic ETF company looking
to looking to get people into their ETF right after
the after the Nasdaq was formulas. I'm guessing the Nasdaq
pre predates that Dylan mentioned in the first segment about Oracle,

(46:44):
the stock just been on fire. They came out ten
percent jump on Thursday on earning another six percent on
Friday to a new all time high revenue and net
income above expectations. That's a stock that you could have
bought a lot cheaper for a long time. Why'd you
come up with time?

Speaker 3 (47:02):
Nasdaq market launched in nineteen seventy one, You are correct,
Nasdaq one hundred came out in nineteen eighty five.

Speaker 1 (47:10):
Probably the ETF thing that it used to be given
an investment trust, not ETF. Yeah, U TS Yeah, U
t U T were very popular and then around like.

Speaker 3 (47:19):
The twenty tens, that's when the ets. We should talk
about that on the next sing.

Speaker 1 (47:22):
Back after this break with the second half of The
Money Matters Show, and we'll talk about that.

Speaker 2 (47:27):
Welcome back to the second hour The Money That Matters Show.
I'm Dylan Greenberg. I'm here with Dave Sherwood's the bash
In Borsini and Todd Glick and this is a Happy
Father's Day edition. Happy Father's Day, Dave, Happy Father's Day
to my dad, who's on vacation still, which I'm going
to go meet him in a couple of weeks. But
we're we're all grateful for our dads. Always enjoy I
got a lot of great memories with him throughout the time.

(47:49):
One of the best things we're doing right now, and
I don't think he's even gonna listen to this show,
but one of the best things we do right now
is coach together at Tucson HI. We both run the offense.
It's a lot of fun. It's a lot of being together,
that's for sure. Go from work to practice, to game
planning on the weekends, the games to everything during the fall.
We spend about twenty four to seven together and that's

(48:11):
in then if we golf on Sunday mornings too, we
spend even more time together.

Speaker 4 (48:14):
It's great.

Speaker 1 (48:15):
I think most fathers fathers would agree with me that
it's the best job I ever had. Happy to you
do it doing you got memory of the market?

Speaker 2 (48:23):
Yeah, for those of you just tuning in, the Dow
was down one point three percent last week, The SMP
five hundred was down point four percent, the NASDAK was
down point six percent, Russell two thousand was down one
point four percent, and the equal Way to SMP was
down point eight percent. That primarily happened on Friday due
to the Israeli attacks on I Ran I Ran retaliating
all that escalation and what uncertainty comes ahead and all that,

(48:46):
and you don't really know what's going to go on
right now at the recording. This is on Sunday. We're
recording this on Friday, so I'm sure there's going to
be a lot more uncovered in the next forty eight
hours that we're gonna wait. And you see a sell
off on Fridays usually stuff like this because investors would
rather have money on the side with the uncertainty of
what's going to go on during the weekend, and then
they'll get back to it on Monday when we train.

Speaker 4 (49:08):
We do have a weird trading week.

Speaker 2 (49:10):
Next week we have Thursday is closed because of Juneteenth,
so you got really four days worth of it.

Speaker 1 (49:16):
It's gonna be gonna be very interesting to watch and
see how this Iran Israeli thinks sources out. We talked
in the first hour about for twenty years the world's
been trying to figure out how to stop Iran from
getting a nuclear weapon in Israel said, I think we
have an idea. So there you go. This is Israel,
and Israel has a believe they have a window, and

(49:38):
I think they do. Where Iran is weak economically, their
currencies in collapse, they're almost out of military weapons, they're
unrest in the streets, it's probably a pretty good time
to try to cut off the head of the snake
and see if we can get to get them to
come to the bargaining table and live more like the

(49:59):
rest to us live again. We'll see what happens. Probably
probably doesn't become a big deal out Sebastian. It probably
doesn't become a big deal as long as it if
it morphs into a Russian Ukraine kind of thing, you know,
where we just don't even pay attention to it anymore.
That's possible as long as it doesn't expand regionally, As

(50:21):
long as it stays between Israel and Iran back and forth.
I think the market can digest it. But there is
that uncertainty where you just don't know. These are not
some of the sharpest knives in the drawer run in Iran, okay,
because otherwise they would have figured out that there are

(50:41):
no match for Isra.

Speaker 5 (50:42):
There's no reason they would have.

Speaker 1 (50:43):
Quit poken the bear. Yeah something, yeah, I got.

Speaker 5 (50:47):
I had a question from clients this week actually, and
they went under portal because their O'Reilly shares were splits
fifteen for one, right, and he was asking me why
doesn't the charts show the old price. So essentially a
stock what is the stock? Split for one is increases
a number of shares while reducing the share price proportionally.
An example of this would be a two for one

(51:08):
split doubles the number of shares and haves a price.
If you had one hundred shares at one hundred dollars each,
after the splits, you would have two hundred shares at
fifty dollars a piece, but your total value is the same.
Companies would often do this to make their shares more
affordable and liquid, often after a strong price growth. So
for O'Reilly's example, I think that are trading around fourteen
hundred dollars a share in order to attract more investors.

(51:31):
Let's make it fifteen for one. Let's split it down
to ninety, right, bring some more other people in that
typically wouldn't have bought. Why wouldn't my chart or why
wouldn't my interface show this to me? Most modern charting
platforms adjust historical prices for splits automatically to reflect the
split adjusted price. This creates the smooth, continuous charts and

(51:53):
prevents the misleading price drop that looks like crashes. That
was kind of the biggest thing that I wanted to
point out is if you know you're looking at a
chart that drops from fifteen hundred dollars down to ninety,
of course you're going to think maybe it's a buying opportunity.
O'Reilly's a great company, But to think that it will
reach that fifteen hundred dollars price starget again maybe unreasonable

(52:13):
because of how many shares are now on the open markets,
that market cap would grow dramatically at that point.

Speaker 1 (52:19):
Well, so you have to compare apples with apples. I mean,
it makes correct makes if you're looking at the today's
price versus ten years ago, right, you can't be looking
at it not adjusted for the split, right, exactly, completely meaningless.

Speaker 5 (52:32):
So that's the housekeeping there also.

Speaker 3 (52:34):
Some of the cool thing about that that me and
Sebastian were looking at With Tesla, they have an average
volume thirty days of one hundred and fourteen million.

Speaker 5 (52:42):
Shares shares traded today, shares traded a day.

Speaker 3 (52:46):
Then you look at Netflix two million, and we're like,
what the heck I mean? Then we started looking at
Meta and it was.

Speaker 5 (52:52):
Like, what was it around Netflix six million?

Speaker 3 (52:56):
And like, what's the difference, I mean, they're all max
seven's right. Well, you know, Tesla has split before, I
think twice, at least Apple has split before, definitely at
least twice, maybe three times. So the companies that have split,
there's more shares out there to be traded, right, and
so that's one of the reasons why they just have
a higher Obviously, Tesla's just a trader's paradise. So that's

(53:18):
also why there's so many shares that are traded.

Speaker 5 (53:21):
And that leads to a tighter spread within the company.
You know, more shares, more volume and price discussed.

Speaker 3 (53:28):
Most people don't even know what a spread is.

Speaker 4 (53:29):
Like.

Speaker 3 (53:30):
There's a bid and an ask, which means buy and sell.
So if I'm trying to sell something, I'm not going
to be selling at the same price that I'm going
to be trying to buy something at. And the less
amount of people in a market to buy or sell
said product or asset, the bigger a spread's going to
be because the more and more people in a marketplace

(53:50):
can actually pinpoint a price, and then there's not going
to be as big of a spread.

Speaker 1 (53:56):
That was just typical of an auction and the New
yorktock exchanges and auction an exchange, So you're.

Speaker 3 (54:01):
Going to have a bit in an ask public mark.

Speaker 1 (54:04):
Very typical, very typical. Speaking of Tesla, they opened five
percent lower on Monday. Baard downgraded the stock to hold
from buy. Bart says that must comments on Robotaxis a
little bit too optimistic in their opinion, and that his
relationship with Trump is considerable uncertainty. We've expressed our doubts
about the ROBOTAXI on this show, But the stock did

(54:25):
bounce right back close four percent higher on Monday after
opening five percent lower than five percent higher on Tuesday
after Trump and Musk seem to hand each other olive
branches and I don't know if you young people even
know what an olive branch is. It's a it's you know,
you got a tad. Okay, the listeners know whole what
olive branches are. They branches they started making. They started

(54:48):
making making nice nicet East everybody else. And Trump posted
something on tweet and Twitter and Musk put a heart
on it.

Speaker 3 (54:56):
You know, I must say, you know, probably going to
be okay.

Speaker 5 (55:00):
They're playing with us. Man, They're just they crazy.

Speaker 3 (55:03):
And I saw a great little little documentary I guess
you can call it that Bloomberg came out with. It
was like a forty seven minute piece on YouTube about
the Stargate project that they're doing Albaline, Texas. It's a
real thing. You know, we talked heard about the Stargate yea,
what is this thing? Five hundred billion dollars like promise
for what what does it do? Well? Do you know

(55:25):
about data center.

Speaker 1 (55:26):
Alley Data Center Alle No, we've talked about it on.

Speaker 3 (55:30):
The show before, but it's a place in Virginia where
all of pretty much ninety percent of the world's Internet
traffic goes through. It gets routed through there, and it's
a place of huge data centers filled with CPUs that
run our internet infrastructure. Why was it that place determined? Well,
it's very close to the CIA and DARPA, the people

(55:51):
who actually created the first Internet, and obviously with the surveillance,
you know, you kind of need to be close through that,
So that's why they chose that region. Now, with this
new project, they have to do pretty much Data Center
Alley two point zero, but instead of CPUs, they're using GPUs,
and that's the thing that NA Video creates. AMD creates

(56:13):
these graphic processing units. AI runs on these data centers
that are predominantly run on these GPUs. They're not the
only thing that they're run on. They're also run on
A six. This is another type of chip, and a
six are actually what run the bitcoin mining computer and
it's actually also it's again they solve really complex mauth algorithm,

(56:36):
so you can see how it could kind of be
used for AI over time. There's two different articles that
I read from a Meta AI specialist and a Microsoft
AI specialist that says we will start to use more
A six in comparison to the GPUs. So right now
the mix for one of them said it's like ninety ten.
One said it's eighty twenty in favor of GPUs being

(56:57):
used right now. One said one could potentially go to
sixty forty GPUs versus A six. One said no, it
probably won't ever get above more than twenty percent A
six needing to be used, but there is going to
be a shift. So you're looking for some of the
companies that specialize not only in GPUs, but A six
is going to be an interesting way to continue to
play this AI because this whole thing is vastly changing

(57:21):
and you have to stay up with the developments because
AI is not something that's just growing at a log
marinthic pace. It's exponential, which means it's going to grow
on top of its growth rate. It's something that we
can't even imagine. It's why we have such a hard
time understanding exponential growth compounding. Sure, so there is some
really cool ideas that come with this. And I was

(57:41):
just kind of talking about the fun facts. Albolene, Texas
a very small place. It's in the west side of Texas,
and the reason they were chose is they have very
cheap energy. They have a whole bunch of wind mills,
not wind mills, but turbines wind turbines because it's very
windy there and they're not used. It's actually a place
that they don't. They have so much abundant energy that

(58:02):
they're dying for demand, so it was a perfect place
to use this data center. On top of that, they're
using a cooling system in the data center that is
a closed loop system, so they only have to put
one million gallons in it once. They don't need a
constant supply of water, which obviously is an environmental nightmare
if you have to. You have to keep from much
water somewhere, and then people are complaining about you draining

(58:24):
up the rivers or lakes or whatever, and then they're
shutting down AI progress. Because that's one of the big
concerns about going into this AI revolution was what is
going to be the regulation, right, are we able to
really grow AI the way they want to? And if
we can, well, then we're going to have a lot
of great growth and a lot of great profits that
are going to come up with it. With it, well,
we are seeing that the president and this administration are

(58:46):
super antiregulation. They want to speed up everything. They want
this thing to start running in twenty twenty six, which
would be the fastest data center creation in the history
of the world. That happens, they're running twenty four to seven,
one hundred and eighty seven Caterpillar, those things that pick
up the dirt, one hundred eighty seven, working around the clock.
They're moving dirt all over the place. One gigawatt factory

(59:08):
and people don't even I didn't understand how big gigawap means.
A gigawa, a gigle way is the same energy you
would need to basically supply all Tucson. I mean the
energy that you need to produce a gigaway. And you
know why we need this is because we say please
to check please see, we say thank you every single
time we throw a prompt into that thing. It's requiring

(59:30):
so much energy. And I showed you one of the
things that I found out with AI this week of
video creation with Google and Google's video creation and if
you guys can go play with it, It's one of
the most impressive things I've ever seen. It's called vo
veo and the videos. This thing is creating and the
best way to do it. And this is what I
learned was Sebastian playing with it. You have to use

(59:52):
AI to create the prompt that you throw into the
AI video gender.

Speaker 5 (59:57):
Why because AI can make better prompts than you.

Speaker 3 (01:00:00):
So you essentially use AI like, say, I'm on chatty
b GM, make me a prompt that makes me a
video of a chihuahua dancing in a cucumber suit in
the middle of my kitchen. Throw that at the chatty
bt It will create the perfect prompt to make that video.
You copy paste that, put it into Google Video, and
it creates a project that is so good that you know,
Hollywood's out of business in three years. It's not even close.

(01:00:21):
They created a Pixar thing that looked perfect. Yeah, I
mean it looked like Pixar created it and it was
created in two minutes.

Speaker 5 (01:00:28):
It's funny how difference it is, like how difference the
video is when you make the prompt and when AI
makes the prompts. Because I could try to make that
same prompts Pixar prompt that Todd's talking about, and it's
going to come up with a video that looks like
I maybe filmed in my backyard. It looks horrible. It
didn't work out.

Speaker 1 (01:00:43):
Wait wait, wait, what are you talking about prompts? How
does AI make a prompt?

Speaker 3 (01:00:47):
Think about a prompt is like a Google search? A
Google search, Like when I'm putting.

Speaker 1 (01:00:50):
A type it in right, right, and you're saying city,
you using voice or what what is?

Speaker 5 (01:00:55):
Instead of me telling the description of the video that
I want, I tell AI make a description.

Speaker 4 (01:01:01):
Of this I feed.

Speaker 2 (01:01:03):
So instead of thinking I'm acting, that's all I got
to think about. Instead of thinking about it, you let
I do the thinking. AI do the thinking, and then
you put it in and they do all of the
rest and it's awesome.

Speaker 3 (01:01:13):
Same way people like when they send emails, they realize, hey,
if I just have AI, if I copypaste my email,
put in AI, it makes a way better email.

Speaker 1 (01:01:21):
And the practical usage of this is because so for
now it's been fun and games, right, So what's the
practical use is.

Speaker 4 (01:01:27):
Usually how it starts. It starts with fun games.

Speaker 3 (01:01:30):
Oh it's it's it's not just fun and games. I
mean this thing once it gets into physical AI. There's
a couple steps that and we're in generative AI right now,
so we're just talking to a chat pop right and
there's plenty of things that we have already accomplished with that.
But the next step is agent AIS. So these are
things that are actually able to do things for you,

(01:01:50):
and think about it. Instead of just creating a good email,
they actually send send for you. It can optimize a
lot of things, do a lot of mundane tasks for
you in the background. The step after that, they said
was physical AI, and physical AI is where we have AI.
And we already have this kind a little bit with
think about the ray bands with meta how with you

(01:02:12):
have that AI interface And they have new metas coming
out with a new one later this year that has
holographic features as well. So eventually you're gonna get a
device that's so fall on your face you're not even
gonna feel it, but you're gonna be able to interact
with the physical world and the digital world without even
knowing really seeing a difference. And that's what AI can
then think about all that. I mean, I can look

(01:02:33):
at a like I said, a Chinese menu, and I
can read it in English, right, and cause it's it's there,
no one else can see it, but I can see it.

Speaker 2 (01:02:42):
Yeah, and those glasses are probably the reason that Apple
discontinued their VR. I forgot exactly what it was called,
but they discontinued the Vision pro.

Speaker 4 (01:02:50):
They sold it.

Speaker 2 (01:02:51):
It was thirty five hundred dollars a pair, and nobody
really was too excited about it once they found out
what the price tag was.

Speaker 4 (01:02:57):
Apple slowly and quietly just.

Speaker 1 (01:03:00):
Scrapped it there for about five minutes.

Speaker 2 (01:03:03):
And that's their idea is just like, Okay, it didn't
take off like we thought it would. They probably knew
Metas coming out with these glasses snaps coming out with
these glasses that are much lighter, much sleeker, much cheaper
that they're just said, we got to scrap this and
they got to come up with something now too.

Speaker 1 (01:03:17):
So we're gonna we're gonna wear glasses that have all
this computer stuff bounced around.

Speaker 4 (01:03:22):
Yeah, and I bet eventually it's going to turn into contacts.

Speaker 5 (01:03:24):
Think about a you know, Meta is obviously not a
social media company. It is a data company. That's what
they do. They collect data off of you. Think about
all the data they're gonna be able to collect off
of your glasses, you know, just walking around, and they need.

Speaker 3 (01:03:37):
That data and there actually is kind of like a
need like some people are like A, I was gonna
take it all over. And what you realize is there's
no data on how to change attire, right, There's just
some but there's no doubt on how to change your plumbing.
And what I mean by doing that is how your
hand moves, how you go into a small space and

(01:03:59):
unscrew a little bowlt like AI. As much as we're
going to be able to create robots, it has a
long while before it's going to be able to know
that type of stuff because we don't we're not collecting
data on that right now, so we can only build
systems that we've collected data for. That's why it's taken
so long to get autonomous vehicles, because they've been collecting
that data over the last almost ten years now, and

(01:04:19):
they have more and more cars out there collecting more
and more data. So it's getting better and better, but
until they hit the certain percentage rate that allows regulation
to actually make it go public, which we should talk about.
It's coming up right. Robot taxi June it's the month
it's supposed to air. I've seen one already on twit
on x now in Austin, Texas being a pilot.

Speaker 5 (01:04:42):
And going back to it. I think that's like that
company the biggest disruptor of twenty twenty five. In the future,
it's going to be the anderill. And that's because of
the real time response autonomy that these companies are going
to be able to have. So, if you think about Pallenteer,
that company is so good at aggregating all the data
rights as in, where's a terrorist, what are they doing?

(01:05:02):
Where's that burner phone coming from?

Speaker 1 (01:05:05):
This?

Speaker 5 (01:05:05):
Androl company is actually gonna be able to act on it.

Speaker 1 (01:05:08):
Right.

Speaker 5 (01:05:08):
So when Todd talks about those AI bots or what
would you call it, the chat boss. No, no, no, not
the bots. I'm sorry the I can't think of it.
You're just literally just talking about it. Go on anyway,
the real time response, not just putting prompts in, it'll
be able to act for you.

Speaker 3 (01:05:27):
Yeah, I mean the drone. I mean what he's saying
is basically what you have with Paleteer is it's an
FBI agent. It's a CIA agent that can collect all
this information and put together things and then Audreal is
actually going to be the drone that takes out the force.
So you're gonna be able to have all these operations
without too much human input out human imper that's also
canna be scary, right, but it's it's going to allow

(01:05:49):
so much more scales of efficiency that allow so many
industries to grow, and then new industries are going to
be created off of it as well.

Speaker 2 (01:05:57):
Justin Wong, the founder's CEO of Nvidia, has been on
top of this. So if you're looking for somebody to
try and read into, he is somebody. He was talking
about it last week at a conference about the Asian AI,
the physical AI, the steps to it, and he has
called every other step of AI before. So if you're
looking for somebody to try and look into and tell
and like what he has and his vision of it all,
he's a good one to look into. Obviously, they're intertwined

(01:06:19):
with it all with their Nvidio chips.

Speaker 1 (01:06:21):
You know.

Speaker 3 (01:06:22):
The last step is Dave, super intelligence is that quantum
m Well, no, it's it's just it's considered godlike intelligence.
It's where it can start to improve itself. It's where
it's a theoretical still because right now, AI, and this
is what Apple came out with their white paper on
AI is really good at parroting things. It knows all

(01:06:44):
of our information that we've ever given it, and it
knows how to give it back to us in a
better way almost. But it doesn't necessarily come up with
its own ideas, you know, can it come up with
its own ideas? Will it ever be able to? That's
the question. If it can, it will reach superintelligence. It
then can createols of thought that we don't even know
exists right now.

Speaker 1 (01:07:02):
And that's why there's so much interested in AI stocks
anything that's involved in AI. That's why you're going down
the road. And something that's the furthest from AI as
you can get is merk right, Tell me I'm wrong.

Speaker 4 (01:07:16):
They probably use AI though.

Speaker 1 (01:07:17):
I bet they do. But you know the dal component
that's hire on Monday to get this FDA approved infant
vaccination for RSV. The approval gives doctors a new treatment
option for the virus, which causes thousands of deaths amongst
older Americans and hundreds of deaths amongst infants. It's the
most common reason for an infant to be hospitalized RSV.

(01:07:43):
I recently had a physical. All was good, but my
doc said he was shocked that I had not had
the RSV vaccination, which came out a couple of years ago. Right,
and so I went and got it. Speaking of vaccines,
on Tuesday, RFK fired all seventeen men versus of the
Vaccine Advisory Committee, saying he wanted to re establish public confidence.

(01:08:07):
I'm not sure how this move is going to make
us more confident, uh, in the system. If he gets
I'm more.

Speaker 5 (01:08:13):
Confident, I was just gonna say, I'm more confidence.

Speaker 1 (01:08:15):
Are you more confident because the seventeen members of the
Advisory Committee are no longer there?

Speaker 3 (01:08:20):
Well, yeah, we're any of you more confidence? Where any
of them were the ones that required us to take
the COVID vaccines?

Speaker 1 (01:08:25):
Nobody required you to take the COVID vaccines.

Speaker 5 (01:08:27):
Some employers I wanted to go on a cruise or
on a plane or travel or.

Speaker 1 (01:08:31):
Some employers did, but no government.

Speaker 3 (01:08:33):
What about saying it's safe and effective?

Speaker 4 (01:08:35):
Uh?

Speaker 1 (01:08:35):
And uh, we don't know. We don't know how many
lives just saved, if any or if yeah, it know,
if it's effective or watchn't. But it was trumps vaccine.
So you don't like it, blame Trump Trumps vaccine. Absolutely,
he rushed it through, he got it done.

Speaker 3 (01:08:52):
He was a Biden had nothing to do with that
of it.

Speaker 1 (01:08:56):
Biden had nothing to do with a vaccine. That was
all Trump.

Speaker 3 (01:08:58):
Interesting.

Speaker 1 (01:08:59):
Absolutely, I wasn't even president then Trump was, and and
he he got applauded for getting it through so quickly
and took a victory lap on it. And in March
of twenty twenty one, we were all all line enough
to get those shots and and thank you, I have them,
thankful to have them. You know, eighty percent of the
public got them. And if you didn't, that's fine. If

(01:09:21):
he didn't then survive, that's fine. A lot of money.
I had friends. I had friends that died from COVID.
I had a healthy a six foot two fifty years.

Speaker 3 (01:09:30):
People died of HEVID that we didn't even die of COVID.
People died of COVID that didn't even die COVID, and
they just said it was COVID because know that was
true too.

Speaker 1 (01:09:37):
So let's not go down that rabbit hole anyway. Newsmax,
we warned you about. Newsmax came public three thirty one
to ten bucks a share, quickly rallied to two sixty five.
Remember that I went from ten to two sixty five.
A couple of weeks ago. The stock was around nineteen.
We warned it. Owners of the stock had filed to
sell up to fifty percent of the outstanding shares, and

(01:10:00):
if you had it, you might not want to have it.
I finished this week at twelve and a half.

Speaker 4 (01:10:05):
I don't know.

Speaker 1 (01:10:05):
I don't follow it in the good news. The good
news if you own Newsmax, or if you've held it
through this whole thing, I'm sorry. But if you if
you're looking at it and you like the company and
you believe in what the company is doing, it's the
right wing news, right and if you like what they're doing,
you believe in what they're doing. The stock is going

(01:10:26):
to be added to the small cap Russell Index at
the end of this month.

Speaker 5 (01:10:30):
Oh we did we talk about how DJs he was
going to put bick coin on their balance sheet.

Speaker 1 (01:10:37):
Yes, well we've talked. I've talked about recently. But uh,
you know, if you want your stock to pop, just
go out and say you're buying a coin, putting it
on the balance sheet instead of holding cash. You're gonna
hope it coin just it's just such a rush bitcoins
in its infancy, there's such a rush towards the todd
there's a limited supply. I don't know. I don't know

(01:11:01):
how it doesn't go higher. But if if there's one thing,
you don't stop it, I own it. Right. If there's
one thing you'll stop it, that's it. Because nothing I
do said buy it.

Speaker 3 (01:11:13):
That's all I need to know.

Speaker 1 (01:11:14):
Nothing I do for myself has ever worked right as
which is why most of my money is a treasury.
Because when it comes to myself, I can't.

Speaker 3 (01:11:23):
Is that why the government's falling apart? Why because you're
buying treasuries?

Speaker 1 (01:11:27):
But there you go, there you go. No, I know myself,
and I'm a horrible investor. I am a great money manager,
but horrible investor for myself. A trader, I'm a horrible trainer.
As our most trader, those traders. Yeah, yeah, we'll be
back with the last two segments of The Money Matter Show.
We thank you for joining us on this Sunday morning,

(01:11:48):
Father's Day. Happy Father's Day, everybody.

Speaker 3 (01:11:50):
Welcome back to The Money Matter Show. My name is
Todd Glick. I'm here with Dylan Greenberg. Bashion Boards Senior
and David Sherwood. We're talking earlier about the show about
the old school era of the U I T A
unit investment trusts, and then we also have the ETFs. Now,
they kind of got popular in the twenty ten. Some
people come in our meetings and have no idea what
ETFs are. Most people know what mutual funds are. They've

(01:12:12):
been around really popular since the eighties. ETF's got really
popular around the twenty tens, and there's reasons for it.
There's some new tax laws that just bore you to death.
But let's explain what the difference really is. A mutual
fund and ETF both think of them as baskets of
stocks or just purely securities. So we're saying, instead of
buying just Apple, let's buy one hundred of the best

(01:12:33):
technology stocks. I can do that through an ETF or
a mutual fund, but there's key differences. Normally, an ETF
is a passive investment fund, so it's not actively traded.
So it's pretty much saying, hey, we're gonna invest in
these one hundred companies and we're not gonna mess with
it too much unless it falls out of this criteria.
A mutual fund has something called a fund manager, so

(01:12:54):
it's actually a team of investment people dictating whether they
should buy sell their portfolio on a a monthly, yearly basis.
The way to think about an ETF and why it's
been more popularly used in the recent decade, is because
it's cheaper on an average basis. There's less overhead to
operate in ETF, so the expense ratio of the fund

(01:13:17):
is lower. The expense ratio is the percentage that you
are actually paying to the company each year. So if
you're up one percent in the fund, but the expense
ratio is one percent, you're you actually were up two percent,
but they took the one percent through the year. You're
only going to be up one percent. Now. The other
thing about the ETF that makes it nicer is it's

(01:13:40):
more flexible. It trades like a stock, so I don't
have to buy it once a day. Most people realize
that with mutual funds, you have to buy and then
it's going to settle the next day and it's just
gonna it's traded one time a day, right, So ETF
is just like a stock. You can trade it as
many times as you want. In and out, and it's
going to trade as the as the stock does. It's

(01:14:02):
the other thing about ETF, it's more tax smart, so
it's not going to slap you with the surprise capital gains.
So when a fund manager sells something at a mutual
fund because he thinks that it's not a good place
to be, he wants to take his gains now, or say,
he just has to sell it because there's redemptions of
the fund, so he has to pay people back. When
that happens, what occurs is a capital gain. That capital

(01:14:23):
gain flows back to the fund holders, which is the
mutual fund investors. Then all of a sudden, you realize
that you could be down in a year and still
get a capital gain, because that's often when fund managers
are going to get out and re rotate into new positions.
So you say twenty two exactly, a lot of people
got slapped.

Speaker 1 (01:14:40):
Yeah, well the market was down twenty some percent, so
a lot of there was a lot of restructuring going on.
At the end of the year. Not only did you
lose twenty percent of your money, but you got a
huge capital gain that you had to pay tax on and.

Speaker 3 (01:14:49):
Your bond's loss. So they're going to get into that.
But and ets are usually more transparent. You can know
exactly what's inside of them, and they follow up pretty
easily fallow criteria like you know what probably it's going
to happen next as well for what's going to go
in or what's going to go out. Whereas a mutual
fund you're talking about people, right, that's very subjectives business.
You have no idea. You have to trust the fund

(01:15:10):
manager and the reputation. So think of in other words,
and etf is like ordering off the shelf, and mutual
fund is like ordering off a secret menu with a
mystery bill.

Speaker 1 (01:15:19):
At the end of the day, I appreciate it despite
it me in Father's Day, I got no respect. During
the break. You're giving me a hard time about saying
I was a lousey trader but a good money manager.
I have good instincts on stocks for long term investors.
For a short term, I'm a short term trader. I'm
not good at it, but I keep doing it. So

(01:15:40):
there you go.

Speaker 4 (01:15:40):
So not a gambler is what you're saying.

Speaker 1 (01:15:42):
That's good. I am a gambler, but I'm not a
good one.

Speaker 4 (01:15:45):
Okay.

Speaker 1 (01:15:48):
The little housekeeping thing from last week. Last week, during
the first hour, we discussed earth minerals in detail. We
discussed what they are, how they're used, and why they're important,
and we own quite a bit of detail about rare
earth minerals. And in the second hour we mentioned them
again and said we couldn't understand why they were called

(01:16:08):
rare earth minerals when in fact they're more common than gold,
to which one listener responded, he couldn't believe that we
didn't know what rare earth minerals were when we had
in the first hour given a very detailed description of
rare earth minerals. Turns out this term rare earth minerals,
which is the thing we were questioning ourselves about in
the second hour last week. It turns out the track after.

Speaker 5 (01:16:31):
The fifteen minute description of what rare earth men.

Speaker 1 (01:16:34):
About, fifteen minute segment on rare earth minerals and pretty
much everything you ever wanted to know, and then some
which probably said which probably some listeners say, I can't
believe you guys don't understand rore earth minerals when in
fact we do. Anyway, that term rare earth minerals goes
back to the seventeen hundreds when they were first discovered,
as at that time they were small, hard to isolate

(01:16:55):
and were hard to identify with this technology that it
existed back then.

Speaker 3 (01:17:00):
So that's for mineral, I got something for you. Nuclear
is a hot space right now. NLR, u r A,
pick your pick, man.

Speaker 1 (01:17:11):
Uh.

Speaker 3 (01:17:12):
Some of the companies that inside of those ETFs that
have really been popping off is Oaklow as well as SMR.
Oaklow has just finalized a deal with the Air Force
and that's actually been a deal that's been in the
cards for a while, but they finally actually got it
to the stage of where they're actually going to start

(01:17:32):
doing it. So that's that's I mean, that sucks like
fifty six bucks now.

Speaker 4 (01:17:35):
Yeah, I mean they're both up.

Speaker 2 (01:17:36):
NLR is up thirty percent for the year, u r
A is up thirty five percent of the for the year.
And the biggest difference between the two is that the
u r A ETF follows uranium and minors mainly that's
our primary goal in what they invest in. NLR follows
uranium companies, but as well as they follow nuclear like Oaklow,
like SMR. So that's a little that's how they're a

(01:17:57):
little different, and that might be why there's a little different.
There's a discrepancy in what they have returned this year.
One's trading at one hundred and five dollars a share,
which is NLR u urs trading at thirty six dollars
a share, So it's a little cheaper in that sense
if you have less money to invest in.

Speaker 5 (01:18:11):
Ure is a lot more concentrated, concentrated in one security.
I believe it was Camco right.

Speaker 2 (01:18:20):
They want to concentrate in NLR. Concentrates in the two sectors,
the nuclear and the uranium mining.

Speaker 3 (01:18:26):
People don't know that the uranium is what's going to
be used for fusion or fission, but one of them
uses less and because it's more self sustaining. But there
we have some listeners to have other ideas of energy
that think there's even better forms of it. So who
knows if that's even the best. Like right now, I
feel like OCO is the most cutting edge of what

(01:18:48):
we need from an energy point because those small modular
reactors are something that can really power cities. But you
know the size of a pickup truck.

Speaker 1 (01:18:56):
Let's talk about proof of concept. You mentioned OKLO, you
mentioned power and air Force. This is Ellison Air Force Base,
which is a remote location in Alaska, and they're going
to power the entire base with these with these small Uh.
The award's not finalized yet. Their reactor design has not
been approved by the NRC, the Nuclear Regulatory Commission. Right,

(01:19:20):
no goodness, but it would certainly be proof of concept.
It would certainly be poight of concept, and the company's
taking advantage of this. They decided to raise four hundred
million dollars by selling additional stock. Remember this stock was
five dollars a share a year ago. Yeah, and now
it's in the fifties.

Speaker 3 (01:19:36):
And they don't make money. Let's let's they're.

Speaker 1 (01:19:39):
In the fifties stuff. I mean, it's it's it's this
is wild stuff.

Speaker 3 (01:19:42):
This is wild stuff in general. If you think about
the industries that are so in their infancy, but there's
so much potential that you just have to buy another
space is a quantum If you look at some of
the stocks QUBT, QB, I mean QBT has there's I mean,
r gt is is the one that's kind of a lagging.
But even the quantum defiance ETF, I think it's QTMN

(01:20:07):
I forget, Yeah, q qtum is the ETF. I think
I mean that space is just going nuts and there's
just no revenue to be seen, but there's just so
much hype and potential.

Speaker 1 (01:20:20):
Well, there was a developers conference last week and the
head of the CEO of Vendidia came out and said
that the space, the quantum space is reaching an inflection point,
which runs contraary to what he said six months ago
where he said is five to ten years away, right,
So which is it? Right?

Speaker 3 (01:20:40):
And then if you think about the quantum space, who's
very big in that IBM nine day win streak snapped
finally on Friday, but that company just continues to reach
new all time hunts.

Speaker 1 (01:20:52):
It's unbelievable. You guys were in that early and the congractus.

Speaker 3 (01:20:55):
Some profits, but you know, it was still staying. N
LAR is a tough thing when you think about it
from an investment because you at this point you're just it's.

Speaker 1 (01:21:04):
Long term nuclear PF and LR.

Speaker 3 (01:21:06):
And all our nuclearsteff. It's like, how do you get
out of that?

Speaker 2 (01:21:09):
And I mean with that, it's it's jumped up about
twenty points in the last three weeks, so it's hitting
it's hitting highs right now, which if you're trying to
wait in it might be time to just right.

Speaker 3 (01:21:19):
I mean, if you're a trader, right, that's what.

Speaker 2 (01:21:20):
Trader is different if your long term investor. Yeah, if
you're looking to buy into that space by a little bit,
if you want to get your feet wet for the
first time. But like we always say, I mean, if
it's high, you don't want to put one hundred percent
of your shares in right.

Speaker 4 (01:21:32):
Now, which is jumped up quite a bit in the
last three weeks. Yeah.

Speaker 1 (01:21:35):
Yeah, And I mean if you've got some speculative money,
maybe you put five percent in a nuclear reta five
percent in a quantum ETF. You know, just spread it around.

Speaker 2 (01:21:44):
Yeah, and the ETS lets you get into the sector
without trying to pick a certain company and hope that
it's right, because like you said, I mean there's three
quantum companies out there, main ones.

Speaker 4 (01:21:52):
QBT s QUBT and r g t I. Q u
b T S.

Speaker 2 (01:21:55):
Qu QUBT and QBTS are both up about eighty percent
for the year. RGTI is down fourteen percent. If you're
in the ETF, you got exposure all And.

Speaker 5 (01:22:06):
Also if you're going into an ETF, go look at
the holdings because sometimes they don't even make sense. I
was looking at a war ETF on Friday, just I
want to see how it was performing. W R is
down on the day, and I go into look at
their holdings. They don't have Lockeed Martin, they don't have Raytheon,
they don't have any of the big giant companies defense companies.
And that made me say, I would never buy the

(01:22:29):
CTF if that was my play play war.

Speaker 1 (01:22:31):
Yeah, and I think you're get to get into a space,
whether it be crypto, whether it be quantum, whether it
be nuclear. An ETF gives you diversification because most of
the companies in those spaces are not going to be
around in five years, but some of them will be behemoth.

Speaker 3 (01:22:48):
You know, we talked about Oracle and we talked about Stargate.
Oracle is the one that's funding providing a lot of
the infrastructure as well. VRT is another company that's funding
a lot of the cooling. Coherent COHR is another company
that's going to be a partnered with some of the
infrastructure there. So obviously we've had a lot of clients.
How do you profit on this AI craze? It's infrastructure.

(01:23:10):
That's why nuclear was one of the things we looked at,
So why FSLR is still going to be something that's
going to go up. Yeah, solar might might not be
everyone's favorite, but it's an energy producer. We need all
the energy we can we can get at this point.

Speaker 1 (01:23:22):
Another world XL you. The utility index has been strong,
even though interest rates have been rising.

Speaker 3 (01:23:27):
It doesn't matters contract.

Speaker 1 (01:23:29):
To traditional investing because it's not your dad's utility anymore.

Speaker 3 (01:23:33):
No, We're going into a supercycle of energy demand that
I don't think the humanity's ever seen before.

Speaker 1 (01:23:38):
I agree, And we're already.

Speaker 3 (01:23:40):
Under supply, so just imagine the price increases that might fault.

Speaker 5 (01:23:44):
And this administration's unregulatory standpoint of it is kind of
just sex and medicting the entire process. So keep at it.

Speaker 1 (01:23:51):
Yeah, I think and again that the demand from from
all of these companies and the data centers in particular
for power is like Todd's. We're entering a super cycle
and who's going to benefit from those. There'd be a
lot of people who benefit from those. We'll be back
with the final segment right after this break. Thanks for
joining us on this Father's Day Sunday morning.

Speaker 5 (01:24:12):
Welcome back to the Money Matter show. My name is
Sebastian Borber seeing him here with Todd Glick Junior, Dylan
Greenberg and David Sherwood. This is a Father's Day edition
of The Money Matter Show.

Speaker 1 (01:24:21):
Dave, I got a.

Speaker 2 (01:24:21):
Fun fact I want to hear A fun fact? Is
it is US Open weekend? For those golfers out there,
it's a great weekend. What year was the first US Open?

Speaker 1 (01:24:29):
The first US Open was in nineteen thirty.

Speaker 2 (01:24:32):
Two, Sebastian nineteen twenty, Todd nineteen thirteen, eighteen ninety five,
a year before the Dow opened. Wow, one hundred and thirty.
Guess how many players played in this tournament? It was
a Newport country club. I think it was how many
players played?

Speaker 4 (01:24:49):
How many there was? How many pros in the first,
the very first US Open?

Speaker 3 (01:24:54):
Twenty four that could.

Speaker 4 (01:24:55):
Be yes, he's gonna get fifteen.

Speaker 1 (01:24:58):
How many guests?

Speaker 2 (01:24:59):
Of fifty there was ten and there was one amateur
and the winner. So it was a one day, thirty
six hole event. The winner was a twenty one year
old from England that was working as a process and
at this country club. He shot a ninety one on
the first eighteen and an eighty two on the next
thirteen for a winning score of one seventy three. That
was the winning score of the first US Open Up.

(01:25:19):
Golf has come a long way.

Speaker 1 (01:25:20):
Oh my goodness.

Speaker 3 (01:25:21):
They also had wood sticks. I mean, think about our
technology now.

Speaker 4 (01:25:26):
Yeah, hoole. The part five was probably one hundred ninety
yards too.

Speaker 1 (01:25:28):
Even when even when I was, when I was in college,
the rage was bamboo sticks. The bamboo sticks for all
the rages.

Speaker 2 (01:25:35):
Yeah, I was eighteen ninety five, wasn't it. No, Oh sorry,
it's father's deck cast.

Speaker 1 (01:25:40):
Say. All I asked for is a little respect at
the top of the show, and I've gotten zero zero.

Speaker 2 (01:25:47):
Respeck crazy though, eleven players and now they got one
hundred and twenty or something playing.

Speaker 1 (01:25:52):
So how about what's going on at Costco? Three months ago,
they extended the retail hours of their gas stations. I
don't know if you know that, you guys, You guys
still buy a gas right, I don't.

Speaker 5 (01:26:02):
But I still buy gas. I didn't know that though.

Speaker 1 (01:26:04):
Oh yeah, they extended the hours of their their gas station.
Now they've announced that those who pay one hundred and
thirty dollars for an executive membership can get into the
warehouse an hour earlier. Now, I don't know about you guys.

Speaker 5 (01:26:20):
I like that.

Speaker 1 (01:26:21):
Yeah, I know, I've got a Costco card at a
fast pass. I never go there because I just it's
just too crowded, just too crowded.

Speaker 4 (01:26:28):
I love Costco, get.

Speaker 5 (01:26:31):
You know what, too crowded to that point. I was
there last Sunday and I decided to walk out. I
only I needed like three or four things, laundry, detergent,
a couple of different items, and their line was backed
up all the way to the refrigeration section. So I
walked out.

Speaker 3 (01:26:44):
See that's what I don't get. Like, if you need
any of that for me, I'm just Amazon.

Speaker 1 (01:26:50):
Yeah, I used Amazon a lot. You know, I use Amazon,
but I also go to the groceries like.

Speaker 5 (01:26:54):
I usually can wait car for detergent. I was also
getting propane. I did get that, so.

Speaker 1 (01:26:59):
That yeah propane at Walgreen.

Speaker 5 (01:27:01):
But yeah, I don't know. Propane's cheaper at Costco. Evans
are okay, so much cheaper. I fill my thing up
for like twelve dollars.

Speaker 3 (01:27:09):
Oh that's good.

Speaker 1 (01:27:10):
I guess he was making a comeback Starbucks a little bit.
He drops seventeen percent.

Speaker 3 (01:27:15):
They do in China, though, See how they do in China.

Speaker 5 (01:27:18):
Well that's why they've been coming back supposedly, but.

Speaker 1 (01:27:20):
Oh they drops seventeen percent on April fourth on disappointing
quarterly report. Slowly making his way back up and traded
above ninety on Monday for the first time since the
sell off. What's a nada? They've reduced prices in China.
I know they're trying to he's got a handsfull. I mean,
Brian Nichols a great CEO, but he's no international experience.

Speaker 5 (01:27:40):
You're supposed to be selling selling those stores, right.

Speaker 1 (01:27:42):
Well, No, he's trying to partner up, he's trying to
get he's trying to reduce their exposure to China, which,
of course the last CEO was all in on China.
Let's get what they were building one every nine hours.
I think we sat on a radio one point a
new Starbucks every nine hours in China, and then the
army went south, COVID hit Luck and coffee came out,

(01:28:06):
you know, And.

Speaker 5 (01:28:07):
Yeah, I would almost look at this little jump on
that stock as an opportunity to sell it if you're
still in it. Personally, I just think that there's a
long road ahead to clean that China stuff. Up for Nichols.

Speaker 1 (01:28:19):
I think he's got got his workout out for him.
The Chinese issue is a big one, not only the
Chinese economy but the competition there and Tesla's finding that out.
Tesla's finding it out. There's a big price war in
China right now on the EV's there some of the
EV BYD is selling cars that lost to gain market share,

(01:28:40):
you know, so Tesla's up against that.

Speaker 3 (01:28:45):
It seems like everything China does they just do at
a loss. And how long can you keep doing that?
I mean, they have these ghost cities.

Speaker 1 (01:28:51):
Gonna lose money on every trade, but we'll make it
up in volume.

Speaker 3 (01:28:54):
Yeah, but then they don't have enough kids being born,
They're not going to have enough volume.

Speaker 1 (01:28:58):
I just saw that, you know, the Tesla Model Why
is the number one selling car in the world, the
first time an electric vehicle has ever become the number
one selling car in the world.

Speaker 3 (01:29:08):
Huh, it's a new era.

Speaker 1 (01:29:09):
And then the new model Why, the Juniper has just
recently come out. And I saw my first Juniper at
the grocery store the other day, and it looks very
much like my model Why, except the back looks a
little bit like the truck which I don't know.

Speaker 3 (01:29:27):
What do you think about the Trump accounts?

Speaker 1 (01:29:29):
About the Trump account have you heard about them?

Speaker 4 (01:29:31):
Oh?

Speaker 1 (01:29:31):
Yeah, yeah with the kids for the kids, well, we
can't afford them, that's all. I mean, we just okay,
so we have no money, so let's give a thousand
dollars to every kid. Okay, that makes sense, you know.
I just we got to quit spending money. Yeah, it
sounds like we've had this conversation before. Honey. No, I'm sorry.

(01:29:52):
You know, in your household though, it's really easy to
get your not easy, but when you when your household
budget is out of balance, you can either go get
more income or stop spending. Seemed like stopping spending is
pretty much the only practical way to go. And I'm
saying that to the government. So when you come up
with these Trump accounts, I don't know if you want
something like Obamacare is gonna live on forever? Right with

(01:30:16):
Obama's name. Maybe he wants something like that for his legacy.
Roth Ira after Senator roth Right. Maybe that's what he's
looking for, having a Trump forever. Yeah, but it's just
it's just spending, spending more money that we don't have,
you know, speaking.

Speaker 3 (01:30:33):
Of the roth had a client in here that just
didn't know that they had, you know, a lot of
money in one company stock that they've worked for over
the last thirty years, but it was all in the
traditional form o K. And these are people together really
haven't made more than one hundred KM on their tax return,
but they've a masked over a million dollars in their portfolio.

(01:30:53):
The reason sounded discipline, right, and sure they had a
lot of money in one company stock, which doesn't always
work out right then ron but sometimes, as we've talked
about with our Costco Cashier example, it can The idea though,
is really discipline, and these people were very disciplined over years,
but they were disciplined arguably in the wrong account because

(01:31:15):
they've amassed all this wealth in traditional four to one k's,
which means, as we said before, if you have nine
hundred thousand and four one K, it's really only going
to be seven hundred thousand after taxes are going to
be occurring. Actually it could be more depending on what
tax rate you're in, but that's pretty conservative there. Now,
if you have that same nine hundred thousand or row
four one K, it's nin one hundred thousand you're not

(01:31:36):
gonna get taxed again. And when you're talking about incomes
that aren't super high in your working years, it doesn't
always make sense to get a tax deduction today. And
what I always tell people in our financial plans to say,
in five years or ten years from now, do you
think tax rates are gonna be high or lower? Everyone,
normally nine percent of the time says higher, right, Because
we all know we have this deficit problem. Someone's gonna

(01:31:58):
have to pay for it, and that's likely going to
be through higher taxes. So why wouldn't we want to
pay taxes at today's rates and then not have to
pay them at who knows what's rates, especially when you're
a young person who knows what rates are going to
be in thirty years, right. And so the idea that
you can put money away into ross now and never
have to pay taxes again, I'll tell you right now.

(01:32:18):
Sebastian Dylon, myself, all of us are put in our
most of our savings in rough four to one case, right,
And I think anyone on their fifty should highly entertain
that idea. If you're not sure, come and do a
financial plan. We can make sure that's the right thing
for you. I can argue even people sometimes from fifty
to sixty. It makes sense depending on obviously income, because
there is obviously times when you retire your income can

(01:32:40):
fall off a cliff and you can have some savings there.
But at the same token, you have to weigh that
con do you have pensions, do you have so security
that's going to show up on taxable income? So if
it's not really going to make a difference, let's start
doing roths now. And those are things that we can't
really know until we do financial planets. Why it's so.

Speaker 1 (01:32:57):
Valuable, I think what you said is exact. If you're
under fifty and like you said, maybe eve a little
bit over. But if you're under fifty and you're not
contributing to a wroth for one k, you're really making
a mistake. It can grow so big and and there
is never going to be taxed to you or your errors.
So many times we deal with people that have these

(01:33:20):
million dollars for one k's that are not million dollars
four to one k's there are seven hundred thousand dollars
for one cas, whereas if they would have put that
into a wroth, it would have been a million dollars
with no tax done. Yes, you gave up a little
bit of a tax deduction along the way somewhere during
your working time on a month to month basis that

(01:33:40):
you'll never notice, right, you'll never notice that. But when
it comes down to the retirement age and you're sitting
with us and going over a financial plan and determining
how much income you can achieve from your investments, what
a gigantic difference that's going to make at that point
it is just phenomenal.

Speaker 3 (01:34:03):
Well, this is why people use our plan to understand
why if roth conversions make sense, and the only reason
they're looking at doing rock conversions is because they have
all the money in.

Speaker 1 (01:34:10):
The form one case.

Speaker 3 (01:34:11):
Yeah, if they did that the ROTH in the first place,
and to be fair, a lot of these things didn't exist,
but that's what we're saying. Now they do and over
seventy percent of plans they have off four one case now,
So take advantage of that.

Speaker 1 (01:34:22):
Absolutely absolutely. M Disney hit a new fifty two week
high Tuesday on news they've concluded the purchase of their
thirty three percent share of Hulu the Comcast had and
that acquisition paves the way for more seamless integration of
Disney and Hulu. McDonald's stock was up six percent this year,
two percent lower on Monday after Morgan Stanley downgraded the

(01:34:45):
doustock the one how lockeed Martin that was amazing, down
six percent at the open on Wednesday after the US
Air Force significantly reduced its request to Congress for new
F thirty five fighter jets. They're ordered just twenty four
aircraft for twenty twenty six, which is half of what
they ordered last year. But on Friday the stock just

(01:35:05):
exploded higher. Yeah, if you saw if you sold on
that down draft on Tuesday, what a mistake, because Friday
it went up twice as much as it went down.
Because they're saying, well, you may want to be thinking
those jet order that you put in.

Speaker 5 (01:35:22):
You would you would have had to know something.

Speaker 1 (01:35:24):
Yeah, yeah, I think when you have when you're trade
not headlines, you have to be careful with that.

Speaker 3 (01:35:29):
Defense was definitely the place to be on Friday. Let's
see where you're supposed to be on Monday.

Speaker 1 (01:35:33):
Barclay says affirmed is the best buy now, pay later
company because Costco chose them, and if Costco had chose them,
they've got to be the best, makes sense, So I
like that we're coming to the end of another show
this Father's Day edition. Happy Father's Day to all of
the fathers out there, you mothers and daughters and sons.
Treat them right. We all want to be happy, we

(01:35:53):
all want to be healthy, and at the end of
the day, what we're really trying to be is see
you next week.

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