November 28, 2025 • 44 mins
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So, Mamdani has become the mayor of New York. What does this mean for YOUR finances? Zach Abraham joins to discuss.
Episode links:
Join the Angel Guild today where you can stream Thank You, Dr. Fauci and be part of the conversation demanding truth and accountability.
Renue Healthcare https://Renue.Healthcare/Todd
Your journey to a better life starts at Renue Healthcare. Visit https://Renue.Healthcare/Todd
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So, Mamdani has become the mayor of New York. What does this mean for YOUR finances? Zach Abraham joins to discuss.
Episode links:
- Zohran: "This movement was made by Yemeni bodega owners, Mexica Abuelas, Senegalese taxi drivers, Uzbek nurses, Trinidadian line cooks, and Ethiopian aunties."
- Summary of "How Much Of A Bubble Are We In? UBS Strategists Expose Warning Signals Of A Peak"
- HOLY COW: President Trump has made it much harder for American companies to hire foreigners instead of American workers. Trump also raised the H-1B Visa fee from $1,000 to $100,000. Do you support this?
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The Communist uprising and your retirement. Zach Abraham joins, a
chief investment officer of Bulwark Capital Management, will do this
all courtesy of God Almighty.
Speaker 2 (00:13):
But Todd Herman show is one percent disapproved by big
pharma technocrats in tyrants everywhere from the high mountains of
Free America. Here's the Emerald City exile, Todd Herman.
Speaker 1 (00:37):
Today is the day the Lord has made in. These
are the times to which God has decided we shall
live in. Joining me now, my friend and brother, chief
investment Officer Bulwark Capital Management, Zach Abraham. Zach will come
back to the program.
Speaker 3 (00:50):
Good to be back, man, especially on a day like today.
I saw you on the schedule when I was looking
at my calendar today and I thought, oh, I forgot
we were going today, and I was like, perfect this,
perfect timing.
Speaker 4 (01:02):
I need to rehash this with my guy Todd here.
Speaker 1 (01:06):
Yeah, and man, last night, I wasn't hopeful for these elections.
But listen to Mondami here. This is why he says
he won. His speech was angry, it was vitriotic. Even
Van Jones says this. But Zach listened to his brief explanation.
Everyone and see if there's anything missing. He describes groups
of people, but tell me if there's something missing in
the groups of people he describes.
Speaker 5 (01:30):
Thank you to those so often forgotten by the politics
of our city who.
Speaker 1 (01:36):
Made this movement their own.
Speaker 5 (01:39):
I speak of Yemeny bodega owners and Mexican abuelas, Senegalese
taxi drivers, and who's beck nurses, Trinidadian line coach and
Ethiopian aunties.
Speaker 1 (01:58):
Yes, aunties. So that's an inside joke there, because he
pretended that his aunt was afraid to wear the his
job in New York, even though she never lived in
New York, didn't or his job. What's missing is description
of these people and their nationalities.
Speaker 4 (02:12):
Americans same.
Speaker 3 (02:16):
Here, and here's the This is so scary to me
because it is so odd to see people.
Speaker 4 (02:24):
Treat this like moral morality and virtue.
Speaker 3 (02:27):
Where you go, guys, the inscription on our coin is
e pluribus union out of many one, not out of
one many. When you start dividing up a constituency into
original native land groups, you destroy a civilization.
Speaker 4 (02:45):
You destroy it, you nuke the culture. It is gone.
Speaker 3 (02:48):
Because that's what everybody is missed about America. The reason
immigration doesn't work right now is the reason you have
a magnet for the exact wrong people. People are coming
for handouts, not for freedom and opportunity.
Speaker 4 (03:05):
Right. So the reason here's the other thing too.
Speaker 3 (03:09):
I'd sit there and say, hey, if you guys want
open borders, you.
Speaker 4 (03:13):
Could convince me. All you do.
Speaker 3 (03:15):
You gotta drastically increase criminal penalties for people that are
here illegally and automatic deportations if they get caught.
Speaker 2 (03:24):
Right.
Speaker 3 (03:24):
But you can have your open borders if you don't
have any social programs.
Speaker 2 (03:29):
Right yep.
Speaker 4 (03:31):
Because then.
Speaker 3 (03:34):
When they talk about yesteryear and people coming through Ellis Island,
the only people that came here were people looking for
a fair shape.
Speaker 4 (03:40):
That's it, yep, right, So you have this filter.
Speaker 2 (03:44):
Right.
Speaker 3 (03:45):
We didn't get people's bumps, we didn't get people's ne'er
do wells. We got people's people that were oppressed, and
that all they wanted, no guarantee of outcome. They just
wanted freedom of opportunity. That's all they were looking for, right,
And so that was the unifying characteristic. Whether you were
from Uzbekistan, Czechoslovakia, China, Singapore.
Speaker 4 (04:08):
Or whatever, you were all here for the same reasons.
Speaker 3 (04:12):
Yeah, And now that's not the case and you sit there, no, no, no,
what about Americans? Out of many one? What are you
talking about? He is He's a classic example. And I
don't think this is hyperbolic at all. He's the classic
example of the enemy within. And I think it's insanity
not to recognize that.
Speaker 1 (04:30):
I totally agreed he was funded from outside the country
at Zorro's funding him, his mom funding him, others. That
used to be illegal, And it used to be a
controversy when we said African American or Chinese American or
Italian American. I remember articles what about the hyphen in American?
Now the hyphen's gone, So a nation's within nations, you know.
And there's a football metaphor to this I want to
(04:50):
share with you because I think it's an important one.
Then I want to talk about some voting blocks. It's
interesting the further back you get from retirement, the more
likely you are to vote for the guy and one gender.
I'm sorry, what I did it again? I'm sorry, Zach
are attorneys here? Okay, one of the sixty four genders.
I apologize, Zach, And I don't hope I didn't misgender you.
Speaker 2 (05:11):
Are you?
Speaker 1 (05:11):
Okay?
Speaker 4 (05:12):
That's like seventy eight.
Speaker 1 (05:13):
Now I'm sorry seventy eight.
Speaker 4 (05:15):
I'm fired up.
Speaker 1 (05:17):
Okay, So I'm going to make a football metaphor here
in a second, because you just reminded me of something.
In our country. You can go into a surgeon and
the surgeon can look at you and say back surgery
is the way, and they're probably going to say no.
By the way, in about fifteen percent of cases, you're
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(05:38):
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(06:20):
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Do you remember when, oh gosh, I remember, I'm forgetting
the name of the quarterback that took the Green Bay
Packers back to the Super Bowl far Brett Farm. Do
you remember when they decided to build a Super Bowl
call team and there was a guy named Reggie White.
(07:02):
Do you remember Reggie?
Speaker 2 (07:03):
Yeah?
Speaker 4 (07:04):
I came from the Eagles.
Speaker 1 (07:05):
Yeah, defensive lineman. He was loved in the in the NFL.
Everybody loved Reggie. People who competed against him, they loved them.
People played with them. He and got together and said,
we're building a super Bowl quality team. Farv took a
pay cut. I'll never forget this, because he wanted to
win a Super Bowl, so he takes a pay cut
to get better offensive linemen. And Reggie White went there
(07:26):
because he could. He was, you know, towards the highlights,
the ends of his career, but still great master. They
created this team and suddenly you had players from around
the league going, I'm going to Green Bay. I got
to get to Green Bay. And it's because they wanted
to win a super Bowl. It's the inverse of our
immigration system. And look what happened. They won a Super Bowl.
They became a dominant team. This is the history of America.
(07:49):
We built a system that worked. People said, I want
to be part of that system. It was pursuit of happiness,
not guarantee of outcome, life liberty, pursuit of happiness. It
was getting government out of the way when we brought
people in by choice, not through slavery. And even after slavery,
look what happened. They succeeded for the most part. So
(08:12):
what you've said of turning the door around this, do
you remember when this happens, who actually made this happen
on me. So first of all, with the football thing
spot on, like your football coach.
Speaker 3 (08:19):
Yeah yeah, yeah, no, no, I mean yes, I mean it
red he I wouldn't say it was at the end
of his career. I mean he was at the height
of his powers. Man, the Minister of defense. He was,
he was the guy.
Speaker 1 (08:27):
Was he that he was that good at that time?
Speaker 4 (08:29):
Oh yeah, because he could play up and down the line.
I mean he could play anywhere.
Speaker 3 (08:33):
In the end, he had this he had this power
move where he would he would uh, he would fake
outside and then use his left hand as a club
and he would like with one hand, would knock over
three hundred and twenty pounds offensive lineman.
Speaker 4 (08:48):
Yes, and you just sit there and you're like, you know,
just unbelieve. Yeah. The guy's andy was Nordain minister, that's right.
Speaker 1 (08:56):
Yeah, So that added I think Sanna's humility. You know what,
let's take a little bit at for less money all
of us, let's build a fantastic team. I remember that
move that they tried to teach, that move, the Reggie
White club move.
Speaker 4 (09:07):
Nobody could do it.
Speaker 1 (09:08):
No, no, not like he did it. So that's the
inverse do you remember when who in the Democrat Party
made this decision to change our immigration philosophy. I don't
not specifically, Yeah, Teddy Kennedy.
Speaker 4 (09:24):
Oh yeah, yeah, yeah, the lion of the Senate.
Speaker 1 (09:26):
Right, So he decided to change the philosophy of American
immigration from people seeking to pursue to have life, to
pursue liberty, to people who wanted handouts, to people who
needed to be rescued. And not just because we're taking
some refugees. Okay, we're five percent of the world's population.
(09:47):
We've taken in twenty percent of the displaced peoples. Teddy
Kennedy decided to do this and bring in this massive
change immigration. And can do you think there's a way
out of this now? Like, I mean, you're numbers guy.
You think there's a way out of this?
Speaker 4 (10:03):
It's getting sticky?
Speaker 3 (10:05):
Yeah, I honestly think you and I were having a
conversation offline, and and well, I would ask that people
please listen to what I say, because in no way
am I waving the white flag. But we were talking
about the frog and water cognitive dissonance, and I do,
I do think you're at a place where in places
(10:27):
like California and in places like New York. I think
pushing back against this stuff right now is feudal. I
think the only way we win this is by I think,
in a weird way, it might be a really good
thing that he won that election last night, mom Dommy specifically,
I think that it highly increases the likelihood that the
(10:50):
governor they elect is Republican, because you know, I know
this will come as a big surprise, but the more
mom dom Me is able.
Speaker 4 (11:00):
To put his policies in place, it.
Speaker 3 (11:05):
Will it will show itself for what it is really quickly, right,
and it's not going to take long. The other thing
is that you're going to see it. You're going to
see it. It'll be interesting to see what the final
toll is. You're going to see an exit of wealth
out of there big time.
Speaker 1 (11:20):
Do you think this is a FATA company? I saw
you put on Twitter. You think the PJS is all
in the PJ class, You guys with private jets. You
call him PJS.
Speaker 3 (11:29):
I do, yeah, yeah, yeah, yeah, that's the inside terminal,
right right, right, you got to be part of the club.
Speaker 4 (11:34):
To be part of the club. Uh so, And I am.
Speaker 3 (11:38):
Entirely joking, you know, so, I do think that, and
I think a lot of them will do it because
you know, pardon my expression, but kind of f you
that's why, right. I think that there are a lot
of wealthy people in New York that are very politically
(12:01):
and they see this as the lunacy that it is
and are willing to sacrifice living where they want to
live for a few years to make a point.
Speaker 2 (12:10):
That is.
Speaker 3 (12:11):
That is my belief, having talked to people there, having
heard a lot of people, you know, in my business
industry discuss what they're going to do.
Speaker 4 (12:21):
A lot of them won't divest themselves of their assets
or their or their houses there. What they will do
is they will just stay out of New York for
the requisite amount of time, do not have to pay
tax in the city.
Speaker 1 (12:32):
Yeah, so they live in Florida for the number of days,
which is what half a year plus a day.
Speaker 4 (12:39):
Yeah, I believe that's the case.
Speaker 3 (12:40):
Yeah, and then you can't be there for more than
two weeks at a time because then you start, you know,
so you got to check in and check out. I
think a lot of them are going to do that.
I think a lot.
Speaker 4 (12:48):
I don't think I know a lot of them already
had and I think this is going to flush up.
Speaker 3 (12:53):
Like I said, I think I think this one will
precipitate more of that, because it's not so much as
decision at this point. I think for a lot of people,
even the people that consider themselves on the left, and
I've heard several of them say that where they're.
Speaker 4 (13:07):
Like no, no, no, no, no, there's a bridge too far right.
Speaker 3 (13:10):
Even Clinton didn't support him for per office. Yeah, so
you know, I think that they're going to lose a
big amount of their tax revenue. I think they're going
to be in big trouble financially really quickly. I would
expect if he follows through with what he says, I'd
expect the city to turn into total chaos.
Speaker 1 (13:29):
And this is what the London model, which has happened
in London, and people say, Okay, you're gonna make this
like London. Now, I agree with you in some ways.
It's bepposed to get out of the way. You know.
It's the stupid easy metaphor is you come home and
your teenage son don broke into the whiskey cabinet, had
a couple of shots of whiskey. You like you like that? Well,
it's gets just true having a Yeah, let's let's just
(13:49):
seach you a couple more. I mean, don't give your
kid alcohol poison, but I'll take a couple more shots.
And when you see him start to get woozy, now,
just just one last one, son, right, Yes, and I
spoke some stogies too, and look and you're there, and
there's something to make sure he doesn't, you know, die
and choke on his vomit and do a bellution and
all that. But it is a way to let them
have this, did you know DOMI said he'll use the
(14:11):
long arm tax if people do that. That he thinks
he can reach into Ford and take moneies even if
they're not living there. And he can't. Well he'll try it, Oh,
I'm sure he.
Speaker 4 (14:21):
Will, but it'll get struck down. I mean he can't.
He can't. He can't impose that for people that aren't
living in the state.
Speaker 1 (14:26):
I mean, good luck, I did the funniest thing.
Speaker 2 (14:28):
Go ahead.
Speaker 4 (14:29):
No, and I mean you can't.
Speaker 3 (14:31):
I just I don't think there's any way that that
would pass on the legal Even if you own a
home there, you're paying property tax, so they can't say, well,
they're taking a bit.
Speaker 4 (14:40):
No, they're not.
Speaker 3 (14:40):
If they're not living there, you can't say that they're
using the services, they're using things, they're paying property tax.
They're still in that benefit to your to your city
because they're paying that property tax. Yeah, I just whatever, right,
I don't think And and I furthermore, I think that
a lot of them will probably if if he is
somehow able to do that, I think a lot lot
of them will divest of their New York assets. And
(15:03):
I think you'll see a massive hit to New York
real estate and it will continue to devalue and they
will step back in and buy that property up when
the city regains its mind.
Speaker 1 (15:11):
So putting on the investor cap a chief investment officer cap,
is this something that you wanted to be ahead of,
like shorting? Can you short New York real estate? I'm
sure there's funds that are made up of the East
Coast New York real estate. And I want you to
think about this for a second. The opportunities that exist,
and we need to talk about some of the demographics.
And then these sort of taxes as Larndmark taxes will
(15:32):
do this with Zacht Abraham soul matters in business, It
really does. I don't know what soul exists behind. Let's
say great big soap companies like Irish Spring. Now you
know that comes from a spring in Ireland. Water as
clear as day can reach down. Just get on your
knees and suck that up. And then that water is
taken from that spring and it sent to communists China,
(15:53):
and maybe that stuff is made in slave labor and
tested on wigers. Here, there's no Irish Spring stuff. It's
not clean as a dove. It comes from great, big,
huge factories. And yet you continue to put this in
your body. And I've done the same thing without thinking
there's an alternative to this. And this is the time
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(16:16):
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(16:36):
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(17:00):
Go to Alan Soaps dot Com slash Todd. That's Alan
Soaps dot Com slash todd. The demographics on this sack.
We'll get to this in a second. But have you
ever been a hit with Have you ever been hit
with one of those taxes from a state you don't
live in and they called this a franchise tax? Have
you ever had that arrive in the mail of the
franchise tax thing?
Speaker 2 (17:21):
No?
Speaker 4 (17:21):
I haven't, I've never Yeah, no, Okay.
Speaker 1 (17:23):
So, way back in the day, I did a consulting
gig for Comedy Central and they brought me down. Friend
of mine, Liz, brought me into this deal. I was
in California for two weeks, one week, get down, going
to investigate, another week to go back and present what
we suggested they do. They paid us a good amount
of money for this project, really good amount of money
and get home. You know, report that to my taxes.
(17:45):
I get a letter from the state of California. You
knows income tax, like what I worked on a project there,
I owe you income tax. So you know how I
approached this is I wrote them back a letter and said,
I am prepared to pay this tax. I have set
aside the funds. Please introduce me to my representative so
(18:05):
that I can have some questions about this, because since
I'm being taxed, certainly I have a representative in the
state legislature. Just please introduce me to that person. The
minute I meet my representative, I will write a check
for these taxes and send it to you. They never
came up, They never said a thing. It just went away.
How could they don't have a representative I do.
Speaker 3 (18:26):
I wonder why pro athletes pay that tax, because every
time a pro athlete plays a game in California.
Speaker 4 (18:31):
They pay that tax. But you're right, I've never thought
about that angle. It's unconstitutional.
Speaker 1 (18:35):
It's taxation without representation, blatantly inconstitutional.
Speaker 4 (18:38):
Yeah. If you can't vote in the state of California,
you can't pay in comep tax.
Speaker 1 (18:41):
Yeah. Blatantly in constitutional every single one of the right.
By the way, if you're an nflation should you and
you take advantage of this, I'll give you my email address.
You can send me a just au because it's okay
to take a rank on something like that. Right, that's
what agents do.
Speaker 4 (18:54):
Well, I mean they should, yeah, I mean they should.
Speaker 1 (18:56):
They should be paying me.
Speaker 3 (18:57):
I mean I came, yeah, I mean well, I mean
you know you could.
Speaker 4 (19:02):
You could throw a little my way too. I mean,
this is a colaborative process. We're a poet. We're doing
it together.
Speaker 1 (19:09):
Man, right, No, I wouldn't be anywhere near where I
am without you, So of course I'll give you a
percentage in that. The demographics for Zach. You want to
talk about fear, so you can look at men. This
is around Madami men eighteen twenty nine young guys uh
sixty eight percent men thirty thirty four sixty six men's
(19:32):
forty five sixty four, forty five sixty five plus thirty
five four Ondamie women Zach eighteen to twenty nine, eighty
four percent. You look at Mike Cheryl women eighty one
percent eighteen to twenty nine. You look at Jay Jones
women eighteen to twenty nine, seventy six percent. You look
at Abigail Spamberger, who's insane women eighteen to twenty nine percent.
(19:56):
Now what do you think, what under what delusion delusions
do you think they're voting?
Speaker 3 (20:08):
I think it's I think it's really interesting that this
is happening at the same time that you have this
kind of unprecedented amount of people in that same age
group that aren't dating, aren't married, aren't aren't having families.
Speaker 4 (20:26):
And when you look at the.
Speaker 3 (20:27):
Data, it's very abnormal, right, Like it sticks out like
a sort thumb. And in a scenario like that with
cultural breakdown, I think that the men have a big
part of the blame. I think way too many men
are not, for a variety of different reasons, attractive partners.
(20:49):
And I think when that happens, I think that women
and I don't mean this in a sexist way, but
I think the average women, especially between the age of
eighteen to twenty nine, start probably looking for some of
those things that they would previously look for in a
partner in elected officials, so they start looking at yeah,
they start viewing politics more through it. And I don't
(21:09):
mean this in a sex of sexist way at all.
But I think they start looking at politics and they
start ascribing more gravitas to it than they should, in
the sense that I think that they started tying and
attaching emotional emotions to it, feelings of security, looking for
government to play I mean, just think about it like
I mean, if you're a twenty seven year old woman
(21:32):
and you're married to a really great guy. It's a
really good provider, protector, you know that kind of stuff,
and good husband, and then you're looking at a twenty
seven year old girl who's single, who can't find a
good guy. I think it's kind of illogical to not
think that their worldview is going to be somewhat different.
They're probably going to be voting for different things, and
(21:54):
it's only natural, I think, for the twenty seven year
old girl who's not married to look to government to
play some of that role.
Speaker 2 (22:01):
Right.
Speaker 4 (22:01):
And then when you.
Speaker 3 (22:02):
Look at how the fact that if you look at
Gen ZS and millennials, the other thing I think is
pretty pretty hard to argue is that they are probably
the least educated generation. Maybe not in some ways as
far as book sense, but as far as street sense.
You know, the amount of jobs they've had by the
time they're twenty one, right, just life experience and things
(22:25):
like this. I think you're looking at, you know, one
of the least hard working for a variety of reasons.
Speaker 4 (22:31):
And I don't think they'll always stay that way, but.
Speaker 3 (22:33):
One of the least independents, one of the most the
most caudal generation in US history. And I think you
add all that stuff into those dynamics and I think
it makes perfect sense. And the other thing I think
that you have in here is that you have it's
really ironic, right, The stability that free markets and capitalism
(22:55):
have provided is the very thing that makes these people
feel comfortable voting this way. Yeah, right, it's it's because, yeah,
because no no election outcome has ever meant a negative
change to their lives, right, think, right, really right? I
mean you'll see it on the streets, lamenting and freaking
out and protesting and screaming from their nether regions, you know,
(23:18):
at Trump.
Speaker 4 (23:18):
But in reality, what really happened.
Speaker 3 (23:21):
Nothing, There was no there was no negative consequence except
a reduction in crime rate.
Speaker 1 (23:25):
Yep, there's been. There's there's a poll that NBC News
put out and they snuck in a question here that
I don't think they know they snuck in, but they
asked about the outlawing of having a miscarriage, because you
know it's the legal of a miscarriage. Well you know that, No,
I don no, No, you can cross having a miscarriage because
(23:47):
it counts an abortion because you're going to be denied
a DNA. Uh, you're not gonna be able to have
the the baby if you have a miscarriage removed. If
you can report that, it's kind of as an abortion
and you're gonna be forced to carry around the dead
fetus in your body. You didn't know that. No, there
were twenty eight percent of women who counted that as
among their concerns.
Speaker 3 (24:05):
Look, I'm sitting there listening to interviews with people on
the streets and they're literally sitting there talking about Mom
Dami's policies and talking about government run grocery stores and
how that's going.
Speaker 4 (24:18):
To lower prices.
Speaker 3 (24:19):
I know, and it's I mean, everybody listening to us
knows this. But that literally is like watching somebody take
their shirt off, walk to the end of the dock
and fully believe they can jump in the lake without
getting wet.
Speaker 1 (24:34):
I know what, I mean, I know, and it's right.
But what they've done the Democrat Party one day is zach.
What they've done to women eighteen to twenty nine years old,
they've done. There's a new site called wine mom Antifa,
and it is tracking otherwise ordinary moms who've gone from
(24:54):
sipping wine to flirting with and getting into Antifa because
they leave that same sex attracted people and black and
brown people, the same six attracted people are going into camps,
and black and brown people citizens are being removed. They
believe that Trump is removing black and brown American citizens
(25:15):
driving through cities because they're black and brown. Have you
had to talk with their kids yet? If they see dhs?
But wait, I'm sorry. They have the country club card, right,
I'm sorry because if they'll just pull out, No, here's
my country club, golf card, my swimming oh okay, sorry,
private school card? No, sorry, no, and look that.
Speaker 4 (25:33):
And this goes back to where we're at.
Speaker 3 (25:34):
I mean, and I think social media ironically, like I've
said before, I think we'll look back at social media
and see it as the Tower of Babel, meaning, yeah,
we all marveled at our technological advances and we could
all speak the same language, and then this technological advance
blew all that up and and it nuked communication because
you have I mean, it is so we've had political
(25:57):
debates in this country since the beginning of its inception. Right,
what we have not done is had arguments about things
that are so obviously true or false, like somebody having
a penis being a woman or having a baby like you.
And you look around and you go, this is so nuts.
But this is literally how cultures tare themselves apart. Right,
(26:19):
You've got these people that believe all these things that
just aren't true, and it happens through the ability or
lack of education of the populace and the ability for
those in the pa Like that's I can't believe that
nobody talks about that. We talk about hate speech or
inflammatory speech. What about what's said on the media every
(26:39):
single day? What about when calling these people fascists and all?
And you know, how is that not inflammatory speech? And
you've got, like I said, you've got forty to fifty
percent of the country that's running around that believes something
that is objectively not true. And it's crazy, especially coming
from the people to talk about misinformation. This gets us
(27:02):
back to talking about None of this makes sense unless
you look at it through a spiritual leens.
Speaker 1 (27:07):
Oh, I hate to No, it's not forgottedness.
Speaker 3 (27:11):
No no, no, no no, can't can't say, can't say,
can't reference the Bible right.
Speaker 1 (27:18):
And God told us. Expect times like this, wars and
rumors of wars. Expect people who ignore sound teaching and
chase after false teachers, who wish article they're wishing their
their itching ears. And what we're seeing is people lording
their power over others, the hearts of many growing cold,
(27:39):
people who want to claim to speak of God, but
none of the majesty and of the divinity, et cetera.
And that is what we're seeing.
Speaker 3 (27:46):
The other thing that the other thing I think is
interesting here is it's it's not normalized.
Speaker 4 (27:52):
I think for one of the groups it is.
Speaker 3 (27:54):
But if you look at the left, you look at
this whole, you know, woke and all that nonsense.
Speaker 4 (28:00):
Who are the two groups? There are two groups that
are not afforded the same rights deferences, all that kind
of stuff.
Speaker 3 (28:11):
There are two groups that for some reason have been
castigated and do not get any protection from the last.
Speaker 1 (28:17):
You know, all those two groups are I can.
Speaker 4 (28:19):
Guess Christians and Jews.
Speaker 1 (28:23):
Yeah, and white Yeah, yeah, yeah, especially if you're white.
Speaker 4 (28:28):
That's the other.
Speaker 3 (28:28):
Thing that weirds me out is when you see a rise,
an irrational rise, frankly on both sides for political aisle,
which I find revolting of anti Semitites and anti Semitism
and simultaneously a turn against Christianity. The game is afoot,
right when you see those things, you are not fighting
(28:50):
principalities of this world.
Speaker 2 (28:51):
No.
Speaker 1 (28:52):
And look, you can critique the government of Israel all
day long and you don't have to become a Jew hater.
Speaker 3 (28:57):
Yeah right, Yes, it's it that I mean, that's like
saying I mean, for instance, it's like saying I hate
Carneye and therefore I hate all Canadians.
Speaker 4 (29:08):
Ridians are really nice people.
Speaker 1 (29:09):
Yeah right, I'm not anti Canadian exactly. Okay. I want
to ask you about buying signals near the apocalypse. So
when we're getting towards the end days, because just now,
lest minute, we took one step closer to the end days.
No one knows the day at the time, but I
want to ask you this because we were talking about
(29:29):
on Donny these signals the culture war continues. What's gonna
happen in New York. I was thinking about Ken, you
short New York realistate, could you have done this? So
we'll talk about this in a second. My friends at
Angel Studios did what HBO refused to do that Netflix
refused to accept. I know there were people who pitched
documentaries about Fauci and what he did to people and
(29:50):
what he is. They didn't do that. They had a
celebratory movie. There's been Showtime, et cetera, a whole bunch
of movies about Fauci the hero. What Angel Studios decided
to go and take an actual look at Fauci in
the entire COVID period of time. So they got an
award winning director named Jenner. First, he got exclusive interviews
(30:11):
with government whistleblowers, intelligence experts, dissident meaning truth telling scientists,
and doctors, and they went back to the very origin
of the COVID flu and their theory is we may
well be in a arms race for bioterra weapons with China,
(30:33):
and we use the Wuhan lab experiment to see what
they would do. It's a fascinating theory. This movie deserves
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to make more movies like this at demand accountability of
(30:54):
people like Tony Fauci. It's Angel dot com slash herman.
All right, So here's where we're at. We were wars
and neervers of wars. We have the uprisings against the
Christian faith. We've got uprisings against the Bible attempting to
stop out God's word. We have countries being formed within countries,
division on top of division, and now an avowed so
(31:18):
called democratic socialists, funded from people outside of our country
here to defund the police, seize property, it take apartments
from others, give to some, and government grocery stores now
putting on the chief investment officer hat at Bulwark Capital
Management A Could I have shorted New York, rid the
(31:38):
States and be fixing to make a big amount of money?
Could I have done that?
Speaker 4 (31:44):
Maybe in some way, shape or form.
Speaker 3 (31:47):
There's probably some opportunities out there, but generally speaking, no,
it's and it's really it's really hard to short real
estate on that tide of a regional basis.
Speaker 1 (31:56):
Okay, you know what I mean.
Speaker 4 (31:57):
Yeah, so that that would be tough.
Speaker 3 (31:59):
But but I do you think that there are other
ways to benefit from the stuff you see going on?
Speaker 1 (32:03):
Oh oh good, I'd like to benefit from the destruction
of a good portion of our country. So so how
do we benefit from the destruction of the entire Eastern seaboard?
Speaker 3 (32:12):
So I look, I actually I'm going to say it's
fairly easy. And I think it's fairly easy in in concept.
The execution of it is is definitely more difficult and
requires a lot more work.
Speaker 4 (32:25):
But you are looking at a scenario. Now.
Speaker 3 (32:29):
Look, I want to talk about this with no hyperbole involved.
Let's just and and I think it's I think it's
best to do that.
Speaker 4 (32:37):
So we can just focus on the things.
Speaker 3 (32:39):
That we know, right, Like I always say in investing,
try to sit aside as many other things you can
to look at just the fact, right, set your politics
asides that social beliefs.
Speaker 4 (32:51):
You want to just analyze the facts. So here are
the facts.
Speaker 3 (32:54):
You are looking at a US stock market, uh, an
asset market in general, housings at all time, and affordability
as well. But you're looking to US or or US
stock market that is in i'd say ninety eight percent
of different metrics at by far and away, the most
overvalued has ever been in history. Now, that overvaluation, I think,
(33:17):
in all reality is significantly more than any other time
in history because you've got certain things that make the
valuations look more tame, like stock based compensation, which is
being used at a record amount, all these different tricks,
segregating different liabilities off in especial purpose vehicles. There's a
(33:40):
lot of different things right now that if you undid
those things and you actually looked at these corporations in
a way that a detailed investor would, you'd come back
and say, Okay, actually, valuations are an all time high.
Speaker 1 (33:51):
There's a lot of.
Speaker 3 (33:52):
Things in there that are that are i don't want
to say artificial, but window dressing to make valuations.
Speaker 1 (33:57):
Look look lower.
Speaker 4 (33:58):
Okay, So there's an overvaluation problem.
Speaker 3 (34:00):
But here's here's the more interesting problem.
Speaker 4 (34:05):
There are a lot of stock markets out there in
the world.
Speaker 2 (34:08):
Right.
Speaker 4 (34:08):
There's a lot of stocks in the world.
Speaker 3 (34:09):
Right.
Speaker 4 (34:10):
You can think around the.
Speaker 3 (34:10):
World, Europe and you know, Russia, and you know all
over the place, China and Japan, all.
Speaker 4 (34:15):
That kind of stuff.
Speaker 3 (34:17):
When you look at the MSCI World Index, which is
index of the largest stocks in the world, very representative
of the international right, the whole international community.
Speaker 4 (34:27):
Think about this.
Speaker 3 (34:28):
Of the MSCI World Index, thirty percent of the MSCI
World Index is the top seven stocks in the United States.
Speaker 4 (34:37):
That's thirty percent.
Speaker 1 (34:38):
That's seventy.
Speaker 3 (34:40):
I didn't say the SMP five hundred made up thirty
percent of the MSCI World Index.
Speaker 4 (34:45):
I said seven stocks did. Okay.
Speaker 3 (34:48):
Now here's the crazy part. We are the largest economy
in the world. The second largest economy in the world
is China. By twenty thirty, as it relates to GDP. Now,
we will still have a far more productive economy and
will have a much higher GDP per person, But in
terms of total size of the economy by twenty thirty,
(35:08):
US and China are going to be relatively not connect. Okay,
So you look in the MSCI World Index at China stocks,
all of China, their stocks make up three percent of
the MSCI World Index. So, regardless evaluation, what you are
seeing right now, that is an absolute historical anomaly. We
(35:31):
have no comps the amount of concentration of global money
in US stocks and the lack of concentration of global
money everywhere else. You have never been more historically tipped
the other way. The difference in valuation of our markets
compared to every other market has never been wider. And
(35:55):
what I think what you want to do here is
you've got to generate opportunity that we haven't seen a
set up like this in fifty years. Meaning literally, you've
got you've got You've got markets and things that are
breaking twenty five year.
Speaker 4 (36:10):
Down friends to the S and P five hundred twenty
five years.
Speaker 3 (36:14):
So what what the deal is is while everybody and
their mother keeps throwing money at ridiculously overpriced US stocks.
Speaker 4 (36:25):
They're giving them away in other parts of the world.
Speaker 3 (36:28):
And it's look, there will be ups and downs, there
will be volatility, But if you are not looking at
natural resources, commodities and international stocks, you're not an investor.
You're not an investor because every every portfolio I look
at Todd guess what they all own, they're all loaded
up in those same seven stocks. And meanwhile I'm looking
(36:48):
at them and the reason that they're loaded up in
them is because they've done so well. And I'm sitting
there going guys. Yes, but look at the valuations here.
Here's the other thing. You look look at the valuations
of these companies in terms of just large numbers. Okay, Palenteers,
everybody's darling right now, right.
Speaker 1 (37:04):
Yep, we got here Palenteer right here, yep.
Speaker 2 (37:07):
Yeah.
Speaker 3 (37:07):
So so Palenteer is doing four and a half billion
dollars a revenue, okay, yep, and they're at a five
hundred billion dollar market cap, so they're trading at one
hundred and twenty times revenue.
Speaker 4 (37:21):
Here's the issue.
Speaker 3 (37:22):
Okay, if let's say you, if you're buying Palenteer right now,
you must think that that stock is going to.
Speaker 4 (37:31):
Go up, right like, that's why buy stock right right
by low so high.
Speaker 3 (37:37):
So let's say your thesis. Now, now, Palenteer is growing revenues.
They've got a really healthy growth rate. They're growing revenues
at forty five to fifty percent.
Speaker 4 (37:45):
Okay. Let's say they hold that growth rate for the
next five years.
Speaker 3 (37:50):
Okay, and let's say that be you know, fifty percent
a year compounded for five years would put you up
around four x four x thing of your revenues. Okay, okay,
So if over the next five years, you four extra revenue,
which is incredible growth, right, that's unbelievable. What is your
(38:14):
projection for the stock? If your four extra revenue, you're
probably hoping the stock triples.
Speaker 4 (38:20):
Right, Well, here's the.
Speaker 3 (38:22):
Issue if the if the if you if you four
x the revenue like we're talking about, Yeah, okay, you
go to twenty billion, right, if you get a two
or three hundred percent gain on the stock because your
four x the revenue, you're looking at a market cap
of what so one point five trillion dollars.
Speaker 4 (38:41):
So now now you've got.
Speaker 3 (38:43):
A company that's doing twenty billion in revenue with a
one point five trillion dollar market cap, meaning that you're
up against the law of large numbers like the for
the stock to move up anymore a five a five
percent move higher in the stock equates to six years
of revenue at the current rate.
Speaker 1 (39:04):
So you're going So if Palaginer tried to sell the company,
Let's say they're doing that twenty billion and they go
out they want to sell the company outright, Okay, let's
just pretend this is the case we want to sell,
and you can have strategic implications. You know, they're going
to be part of the surveillance state. They're tied into
the deep state, so this could be strategic reasons, so
they could be a strategic bonus, right, right, And you
(39:28):
go to investor, you say, okay, so what are your revenues?
Twenty billion? Twenty billion? Okay, what do you ask for
the company? One point five trillion?
Speaker 3 (39:36):
Yeah, so if you were going to go buy a
fruit stand, well, let's say a coffee stand.
Speaker 1 (39:43):
You go to the coffee stand and you say, you
know what, I lived here here my daughter, you know,
she wants a place to work, and I kind of
just want to retirement job. I came out with people,
what are your yearly revenues here?
Speaker 2 (39:54):
Now?
Speaker 1 (39:55):
Don't we do a quarter million? Oh, it's not bad.
So coffee shop? And yeah, you know we sell merch
and some some stuff, some meals. Okay, cool? So how
many employees are they get? Three? What are you paying
them thirty grand a year? What do you want for
the place? Twenty two million dollars? Sweet? Is that relatively
spot on to what we're talking about here?
Speaker 4 (40:16):
Yeah?
Speaker 3 (40:17):
And and the and the and here's why overvaluation almost
more than anything. When you look at historically the LAMS investors,
mostly retail investors, right, even retail investors that are.
Speaker 4 (40:31):
Doing their doing their homework a lot.
Speaker 3 (40:33):
Of times because they sit there and they watch the
arc of the stock and they're reading the company results
every quarter, and they're going, well, they're still growing, right,
the narrative is still in place, so the stock will
keep going up.
Speaker 4 (40:48):
But then you forget about Microsoft.
Speaker 3 (40:52):
Right, So the old story from Mike from two thousand
and two to twenty twelve, Microsoft stock went nowhere.
Speaker 4 (41:00):
It made no money over a ten year period of time.
In the stock went nowhere. Over that same period of time,
revenue tripled. Okay, And people go, well, why didn't go anywhere?
Speaker 3 (41:11):
And you go because when at the beginning of that
ten year period it was trading at one hundred and
two times earnings, it needed.
Speaker 4 (41:18):
To triple its revenue to catch up to its valuation. Right.
Speaker 3 (41:21):
And so this is what happens in manias is stock
prices get detached from the actual underlying cash flows and
what people forget and pallunteer shareholders. I put in this
same place, Guys, you currently are buying this thing at
a price where it is virtually impossible on a cash
flow basis for you to be profitable in this trade
(41:44):
in the next ten years, like it's virtually mathematically impossible.
Speaker 4 (41:49):
Yeah, unless they do it.
Speaker 3 (41:52):
Nvidia and five exitrair revenue over the course of a
year and a half, and I will just tell you
you'll probably never see anything like that again. I mean,
it was a complete anoma. So it just it doesn't
make sense. The part that gives you a heartburn note
Todd is then you look around internationally, they're given stuff away.
Speaker 4 (42:12):
I mean, they're just given stuff away.
Speaker 3 (42:15):
And it's it is. It is a generational opportunity. And
not only is it that I think people are going
to get smashed in US stocks. I think they're going
to get smashed for a while, and I think at
simultaneously they're missing out on one of the greatest I've
never seen a buying opportunity with assets like this at
(42:36):
prices like this in my career.
Speaker 4 (42:38):
I've been doing this almost twenty years.
Speaker 1 (42:40):
There you go, So Zach explained the solid explanation. And look,
if you will go to Mexico and say, oh my gosh, honey,
they've got a leather jacket here for ninety nine bucks.
This is six hundred bucks in the States, and you
purchase it. Then you should be looking at the international stocks.
I mean that's me. I just like to boil it
down to my monkey brain thing. It's great to talk
with you. Great forgetting thank you for the wise count
(43:00):
all day. We miss you over here. Uh, I know,
you know I've talked about this tour to Tupelo and
some of these speaking dates and you coming out and
meet some of the folks. We need to do that.
But we need your folks. We need you to get
back over here.
Speaker 4 (43:12):
Uh you know what. Yeah, my wife and I always
talking about that. It's been a while since we've been
over there. Are you. Are you guys doing that that
conference again in like February.
Speaker 1 (43:21):
Yeah, and you got to come to that. We got
to come to that love too, and we'll give a
speech and uh we'll speak together and you can meet
a bunch of the folks and then Uh, I'm committed
to the trip down to Mexico. I just got the
numbers and the people going to be there for renew
got that's a little bit of travel coming up. But
we need to get you back over here and do
uh let's do a private event, uh where we just
sit down and we bring folks in and you answer
(43:42):
questions and we'll do it at a pizza place, a
certain pizza place. I'm not supposed to mention anymore.
Speaker 4 (43:46):
Okay, okay, why why can't you mention it anymore?
Speaker 1 (43:50):
It's a licensing thing, and they, you know, make pizzas
with I'm just kidding. I'm just kidding, trying to play
a big timer and all that. All right, Zach Abraham,
Chief best Officer, Board Captain man, thanks for joining us,
and we will do that again next week. This is
the Todd Herman Show. Please go, be well, be strong,
be kind, and please make every effort to walk in
the life of Christ.
The Communist uprising and your retirement. Zach Abraham joins, a
chief investment officer of Bulwark Capital Management, will do this
all courtesy of God Almighty.
Speaker 2 (00:13):
But Todd Herman show is one percent disapproved by big
pharma technocrats in tyrants everywhere from the high mountains of
Free America. Here's the Emerald City exile, Todd Herman.
Speaker 1 (00:37):
Today is the day the Lord has made in. These
are the times to which God has decided we shall
live in. Joining me now, my friend and brother, chief
investment Officer Bulwark Capital Management, Zach Abraham. Zach will come
back to the program.
Speaker 3 (00:50):
Good to be back, man, especially on a day like today.
I saw you on the schedule when I was looking
at my calendar today and I thought, oh, I forgot
we were going today, and I was like, perfect this,
perfect timing.
Speaker 4 (01:02):
I need to rehash this with my guy Todd here.
Speaker 1 (01:06):
Yeah, and man, last night, I wasn't hopeful for these elections.
But listen to Mondami here. This is why he says
he won. His speech was angry, it was vitriotic. Even
Van Jones says this. But Zach listened to his brief explanation.
Everyone and see if there's anything missing. He describes groups
of people, but tell me if there's something missing in
the groups of people he describes.
Speaker 5 (01:30):
Thank you to those so often forgotten by the politics
of our city who.
Speaker 1 (01:36):
Made this movement their own.
Speaker 5 (01:39):
I speak of Yemeny bodega owners and Mexican abuelas, Senegalese
taxi drivers, and who's beck nurses, Trinidadian line coach and
Ethiopian aunties.
Speaker 1 (01:58):
Yes, aunties. So that's an inside joke there, because he
pretended that his aunt was afraid to wear the his
job in New York, even though she never lived in
New York, didn't or his job. What's missing is description
of these people and their nationalities.
Speaker 4 (02:12):
Americans same.
Speaker 3 (02:16):
Here, and here's the This is so scary to me
because it is so odd to see people.
Speaker 4 (02:24):
Treat this like moral morality and virtue.
Speaker 3 (02:27):
Where you go, guys, the inscription on our coin is
e pluribus union out of many one, not out of
one many. When you start dividing up a constituency into
original native land groups, you destroy a civilization.
Speaker 4 (02:45):
You destroy it, you nuke the culture. It is gone.
Speaker 3 (02:48):
Because that's what everybody is missed about America. The reason
immigration doesn't work right now is the reason you have
a magnet for the exact wrong people. People are coming
for handouts, not for freedom and opportunity.
Speaker 4 (03:05):
Right. So the reason here's the other thing too.
Speaker 3 (03:09):
I'd sit there and say, hey, if you guys want
open borders, you.
Speaker 4 (03:13):
Could convince me. All you do.
Speaker 3 (03:15):
You gotta drastically increase criminal penalties for people that are
here illegally and automatic deportations if they get caught.
Speaker 2 (03:24):
Right.
Speaker 3 (03:24):
But you can have your open borders if you don't
have any social programs.
Speaker 2 (03:29):
Right yep.
Speaker 4 (03:31):
Because then.
Speaker 3 (03:34):
When they talk about yesteryear and people coming through Ellis Island,
the only people that came here were people looking for
a fair shape.
Speaker 4 (03:40):
That's it, yep, right, So you have this filter.
Speaker 2 (03:44):
Right.
Speaker 3 (03:45):
We didn't get people's bumps, we didn't get people's ne'er
do wells. We got people's people that were oppressed, and
that all they wanted, no guarantee of outcome. They just
wanted freedom of opportunity. That's all they were looking for, right,
And so that was the unifying characteristic. Whether you were
from Uzbekistan, Czechoslovakia, China, Singapore.
Speaker 4 (04:08):
Or whatever, you were all here for the same reasons.
Speaker 3 (04:12):
Yeah, And now that's not the case and you sit there, no, no, no,
what about Americans? Out of many one? What are you
talking about? He is He's a classic example. And I
don't think this is hyperbolic at all. He's the classic
example of the enemy within. And I think it's insanity
not to recognize that.
Speaker 1 (04:30):
I totally agreed he was funded from outside the country
at Zorro's funding him, his mom funding him, others. That
used to be illegal, And it used to be a
controversy when we said African American or Chinese American or
Italian American. I remember articles what about the hyphen in American?
Now the hyphen's gone, So a nation's within nations, you know.
And there's a football metaphor to this I want to
(04:50):
share with you because I think it's an important one.
Then I want to talk about some voting blocks. It's
interesting the further back you get from retirement, the more
likely you are to vote for the guy and one gender.
I'm sorry, what I did it again? I'm sorry, Zach
are attorneys here? Okay, one of the sixty four genders.
I apologize, Zach, And I don't hope I didn't misgender you.
Speaker 2 (05:11):
Are you?
Speaker 1 (05:11):
Okay?
Speaker 4 (05:12):
That's like seventy eight.
Speaker 1 (05:13):
Now I'm sorry seventy eight.
Speaker 4 (05:15):
I'm fired up.
Speaker 1 (05:17):
Okay, So I'm going to make a football metaphor here
in a second, because you just reminded me of something.
In our country. You can go into a surgeon and
the surgeon can look at you and say back surgery
is the way, and they're probably going to say no.
By the way, in about fifteen percent of cases, you're
going to end up with follow up surgeries for a
condition like this. In a condition like this, it might
(05:38):
be more and you're probably not likely to get a
surgeon saying well, you could, in fact try something before
you have full new repelacement surgery, Say if you're lacking cartilage.
This is very very common in people my age and
sometimes people younger if they've done a lot of sports.
Renew dot Healthcare can look at your MRIs now and
they can give you a second opinion and you can
(05:59):
balance this out. You have your doctor, your surgeon who's
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can say there's enough cartilage or there's enough intact tissue.
Then an injection of the world class stem cells that
come from donor cells from umbilical cords. Only the Wharton's
(06:20):
jelly portion. Only only the twenty percent of the cells
they accept, because they reject eighty percent, the exact opposite
of the junk in America. An injection of that time
of the hyperbred chambers and some ivs. You could avoid
surgery all together and be back doing what you love.
Maybe that's just moving around. Go to renew r E
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nue dot Healthcare. They'll tell you if they can help
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Do you remember when, oh gosh, I remember, I'm forgetting
the name of the quarterback that took the Green Bay
Packers back to the Super Bowl far Brett Farm. Do
you remember when they decided to build a Super Bowl
call team and there was a guy named Reggie White.
(07:02):
Do you remember Reggie?
Speaker 2 (07:03):
Yeah?
Speaker 4 (07:04):
I came from the Eagles.
Speaker 1 (07:05):
Yeah, defensive lineman. He was loved in the in the NFL.
Everybody loved Reggie. People who competed against him, they loved them.
People played with them. He and got together and said,
we're building a super Bowl quality team. Farv took a
pay cut. I'll never forget this, because he wanted to
win a Super Bowl, so he takes a pay cut
to get better offensive linemen. And Reggie White went there
(07:26):
because he could. He was, you know, towards the highlights,
the ends of his career, but still great master. They
created this team and suddenly you had players from around
the league going, I'm going to Green Bay. I got
to get to Green Bay. And it's because they wanted
to win a super Bowl. It's the inverse of our
immigration system. And look what happened. They won a Super Bowl.
They became a dominant team. This is the history of America.
(07:49):
We built a system that worked. People said, I want
to be part of that system. It was pursuit of happiness,
not guarantee of outcome, life liberty, pursuit of happiness. It
was getting government out of the way when we brought
people in by choice, not through slavery. And even after slavery,
look what happened. They succeeded for the most part. So
(08:12):
what you've said of turning the door around this, do
you remember when this happens, who actually made this happen
on me. So first of all, with the football thing
spot on, like your football coach.
Speaker 3 (08:19):
Yeah yeah, yeah, no, no, I mean yes, I mean it
red he I wouldn't say it was at the end
of his career. I mean he was at the height
of his powers. Man, the Minister of defense. He was,
he was the guy.
Speaker 1 (08:27):
Was he that he was that good at that time?
Speaker 4 (08:29):
Oh yeah, because he could play up and down the line.
I mean he could play anywhere.
Speaker 3 (08:33):
In the end, he had this he had this power
move where he would he would uh, he would fake
outside and then use his left hand as a club
and he would like with one hand, would knock over
three hundred and twenty pounds offensive lineman.
Speaker 4 (08:48):
Yes, and you just sit there and you're like, you know,
just unbelieve. Yeah. The guy's andy was Nordain minister, that's right.
Speaker 1 (08:56):
Yeah, So that added I think Sanna's humility. You know what,
let's take a little bit at for less money all
of us, let's build a fantastic team. I remember that
move that they tried to teach, that move, the Reggie
White club move.
Speaker 4 (09:07):
Nobody could do it.
Speaker 1 (09:08):
No, no, not like he did it. So that's the
inverse do you remember when who in the Democrat Party
made this decision to change our immigration philosophy. I don't
not specifically, Yeah, Teddy Kennedy.
Speaker 4 (09:24):
Oh yeah, yeah, yeah, the lion of the Senate.
Speaker 1 (09:26):
Right, So he decided to change the philosophy of American
immigration from people seeking to pursue to have life, to
pursue liberty, to people who wanted handouts, to people who
needed to be rescued. And not just because we're taking
some refugees. Okay, we're five percent of the world's population.
(09:47):
We've taken in twenty percent of the displaced peoples. Teddy
Kennedy decided to do this and bring in this massive
change immigration. And can do you think there's a way
out of this now? Like, I mean, you're numbers guy.
You think there's a way out of this?
Speaker 4 (10:03):
It's getting sticky?
Speaker 3 (10:05):
Yeah, I honestly think you and I were having a
conversation offline, and and well, I would ask that people
please listen to what I say, because in no way
am I waving the white flag. But we were talking
about the frog and water cognitive dissonance, and I do,
I do think you're at a place where in places
(10:27):
like California and in places like New York. I think
pushing back against this stuff right now is feudal. I
think the only way we win this is by I think,
in a weird way, it might be a really good
thing that he won that election last night, mom Dommy specifically,
I think that it highly increases the likelihood that the
(10:50):
governor they elect is Republican, because you know, I know
this will come as a big surprise, but the more
mom dom Me is able.
Speaker 4 (11:00):
To put his policies in place, it.
Speaker 3 (11:05):
Will it will show itself for what it is really quickly, right,
and it's not going to take long. The other thing
is that you're going to see it. You're going to
see it. It'll be interesting to see what the final
toll is. You're going to see an exit of wealth
out of there big time.
Speaker 1 (11:20):
Do you think this is a FATA company? I saw
you put on Twitter. You think the PJS is all
in the PJ class, You guys with private jets. You
call him PJS.
Speaker 3 (11:29):
I do, yeah, yeah, yeah, yeah, that's the inside terminal,
right right, right, you got to be part of the club.
Speaker 4 (11:34):
To be part of the club. Uh so, And I am.
Speaker 3 (11:38):
Entirely joking, you know, so, I do think that, and
I think a lot of them will do it because
you know, pardon my expression, but kind of f you
that's why, right. I think that there are a lot
of wealthy people in New York that are very politically
(12:01):
and they see this as the lunacy that it is
and are willing to sacrifice living where they want to
live for a few years to make a point.
Speaker 2 (12:10):
That is.
Speaker 3 (12:11):
That is my belief, having talked to people there, having
heard a lot of people, you know, in my business
industry discuss what they're going to do.
Speaker 4 (12:21):
A lot of them won't divest themselves of their assets
or their or their houses there. What they will do
is they will just stay out of New York for
the requisite amount of time, do not have to pay
tax in the city.
Speaker 1 (12:32):
Yeah, so they live in Florida for the number of days,
which is what half a year plus a day.
Speaker 4 (12:39):
Yeah, I believe that's the case.
Speaker 3 (12:40):
Yeah, and then you can't be there for more than
two weeks at a time because then you start, you know,
so you got to check in and check out. I
think a lot of them are going to do that.
I think a lot.
Speaker 4 (12:48):
I don't think I know a lot of them already
had and I think this is going to flush up.
Speaker 3 (12:53):
Like I said, I think I think this one will
precipitate more of that, because it's not so much as
decision at this point. I think for a lot of people,
even the people that consider themselves on the left, and
I've heard several of them say that where they're.
Speaker 4 (13:07):
Like no, no, no, no, no, there's a bridge too far right.
Speaker 3 (13:10):
Even Clinton didn't support him for per office. Yeah, so
you know, I think that they're going to lose a
big amount of their tax revenue. I think they're going
to be in big trouble financially really quickly. I would
expect if he follows through with what he says, I'd
expect the city to turn into total chaos.
Speaker 1 (13:29):
And this is what the London model, which has happened
in London, and people say, Okay, you're gonna make this
like London. Now, I agree with you in some ways.
It's bepposed to get out of the way. You know.
It's the stupid easy metaphor is you come home and
your teenage son don broke into the whiskey cabinet, had
a couple of shots of whiskey. You like you like that? Well,
it's gets just true having a Yeah, let's let's just
(13:49):
seach you a couple more. I mean, don't give your
kid alcohol poison, but I'll take a couple more shots.
And when you see him start to get woozy, now,
just just one last one, son, right, Yes, and I
spoke some stogies too, and look and you're there, and
there's something to make sure he doesn't, you know, die
and choke on his vomit and do a bellution and
all that. But it is a way to let them
have this, did you know DOMI said he'll use the
(14:11):
long arm tax if people do that. That he thinks
he can reach into Ford and take moneies even if
they're not living there. And he can't. Well he'll try it, Oh,
I'm sure he.
Speaker 4 (14:21):
Will, but it'll get struck down. I mean he can't.
He can't. He can't impose that for people that aren't
living in the state.
Speaker 1 (14:26):
I mean, good luck, I did the funniest thing.
Speaker 2 (14:28):
Go ahead.
Speaker 4 (14:29):
No, and I mean you can't.
Speaker 3 (14:31):
I just I don't think there's any way that that
would pass on the legal Even if you own a
home there, you're paying property tax, so they can't say, well,
they're taking a bit.
Speaker 4 (14:40):
No, they're not.
Speaker 3 (14:40):
If they're not living there, you can't say that they're
using the services, they're using things, they're paying property tax.
They're still in that benefit to your to your city
because they're paying that property tax. Yeah, I just whatever, right,
I don't think And and I furthermore, I think that
a lot of them will probably if if he is
somehow able to do that, I think a lot lot
of them will divest of their New York assets. And
(15:03):
I think you'll see a massive hit to New York
real estate and it will continue to devalue and they
will step back in and buy that property up when
the city regains its mind.
Speaker 1 (15:11):
So putting on the investor cap a chief investment officer cap,
is this something that you wanted to be ahead of,
like shorting? Can you short New York real estate? I'm
sure there's funds that are made up of the East
Coast New York real estate. And I want you to
think about this for a second. The opportunities that exist,
and we need to talk about some of the demographics.
And then these sort of taxes as Larndmark taxes will
(15:32):
do this with Zacht Abraham soul matters in business, It
really does. I don't know what soul exists behind. Let's
say great big soap companies like Irish Spring. Now you
know that comes from a spring in Ireland. Water as
clear as day can reach down. Just get on your
knees and suck that up. And then that water is
taken from that spring and it sent to communists China,
(15:53):
and maybe that stuff is made in slave labor and
tested on wigers. Here, there's no Irish Spring stuff. It's
not clean as a dove. It comes from great, big,
huge factories. And yet you continue to put this in
your body. And I've done the same thing without thinking
there's an alternative to this. And this is the time
to change over during Christmas, changeover for yourself to Alan
(16:16):
Soaps dot com slash todd. This is made in America
by family with three generations of soap making expertise, and
its entire mission beyond the excellence of the soap, chemical free,
best soap you'll ever have. All natural is to employ
people like Alan and Ian. You know, the rest of
the world would just say, look, just put them on
some psychosomatic drugs, park them in front of a video game,
(16:36):
send them in a box. They'll be fine. Now now,
These kids are designed to work and have the joy
of that, and they do work there. We want to
hire more people, so make that decision Alan Soaps dot
Com slash Todd, or make it for someone else, particularly
people with special needs kids. There's a lot of hope
in them seeing how Alan works there every single day
despite being effectively nonverbal with his eighteen operations in Difficulty movie.
(17:00):
Go to Alan Soaps dot Com slash Todd. That's Alan
Soaps dot Com slash todd. The demographics on this sack.
We'll get to this in a second. But have you
ever been a hit with Have you ever been hit
with one of those taxes from a state you don't
live in and they called this a franchise tax? Have
you ever had that arrive in the mail of the
franchise tax thing?
Speaker 2 (17:21):
No?
Speaker 4 (17:21):
I haven't, I've never Yeah, no, Okay.
Speaker 1 (17:23):
So, way back in the day, I did a consulting
gig for Comedy Central and they brought me down. Friend
of mine, Liz, brought me into this deal. I was
in California for two weeks, one week, get down, going
to investigate, another week to go back and present what
we suggested they do. They paid us a good amount
of money for this project, really good amount of money
and get home. You know, report that to my taxes.
(17:45):
I get a letter from the state of California. You
knows income tax, like what I worked on a project there,
I owe you income tax. So you know how I
approached this is I wrote them back a letter and said,
I am prepared to pay this tax. I have set
aside the funds. Please introduce me to my representative so
(18:05):
that I can have some questions about this, because since
I'm being taxed, certainly I have a representative in the
state legislature. Just please introduce me to that person. The
minute I meet my representative, I will write a check
for these taxes and send it to you. They never
came up, They never said a thing. It just went away.
How could they don't have a representative I do.
Speaker 3 (18:26):
I wonder why pro athletes pay that tax, because every
time a pro athlete plays a game in California.
Speaker 4 (18:31):
They pay that tax. But you're right, I've never thought
about that angle. It's unconstitutional.
Speaker 1 (18:35):
It's taxation without representation, blatantly inconstitutional.
Speaker 4 (18:38):
Yeah. If you can't vote in the state of California,
you can't pay in comep tax.
Speaker 1 (18:41):
Yeah. Blatantly in constitutional every single one of the right.
By the way, if you're an nflation should you and
you take advantage of this, I'll give you my email address.
You can send me a just au because it's okay
to take a rank on something like that. Right, that's
what agents do.
Speaker 4 (18:54):
Well, I mean they should, yeah, I mean they should.
Speaker 1 (18:56):
They should be paying me.
Speaker 3 (18:57):
I mean I came, yeah, I mean well, I mean
you know you could.
Speaker 4 (19:02):
You could throw a little my way too. I mean,
this is a colaborative process. We're a poet. We're doing
it together.
Speaker 1 (19:09):
Man, right, No, I wouldn't be anywhere near where I
am without you, So of course I'll give you a
percentage in that. The demographics for Zach. You want to
talk about fear, so you can look at men. This
is around Madami men eighteen twenty nine young guys uh
sixty eight percent men thirty thirty four sixty six men's
(19:32):
forty five sixty four, forty five sixty five plus thirty
five four Ondamie women Zach eighteen to twenty nine, eighty
four percent. You look at Mike Cheryl women eighty one
percent eighteen to twenty nine. You look at Jay Jones
women eighteen to twenty nine, seventy six percent. You look
at Abigail Spamberger, who's insane women eighteen to twenty nine percent.
(19:56):
Now what do you think, what under what delusion delusions
do you think they're voting?
Speaker 3 (20:08):
I think it's I think it's really interesting that this
is happening at the same time that you have this
kind of unprecedented amount of people in that same age
group that aren't dating, aren't married, aren't aren't having families.
Speaker 4 (20:26):
And when you look at the.
Speaker 3 (20:27):
Data, it's very abnormal, right, Like it sticks out like
a sort thumb. And in a scenario like that with
cultural breakdown, I think that the men have a big
part of the blame. I think way too many men
are not, for a variety of different reasons, attractive partners.
(20:49):
And I think when that happens, I think that women
and I don't mean this in a sexist way, but
I think the average women, especially between the age of
eighteen to twenty nine, start probably looking for some of
those things that they would previously look for in a
partner in elected officials, so they start looking at yeah,
they start viewing politics more through it. And I don't
(21:09):
mean this in a sex of sexist way at all.
But I think they start looking at politics and they
start ascribing more gravitas to it than they should, in
the sense that I think that they started tying and
attaching emotional emotions to it, feelings of security, looking for
government to play I mean, just think about it like
I mean, if you're a twenty seven year old woman
(21:32):
and you're married to a really great guy. It's a
really good provider, protector, you know that kind of stuff,
and good husband, and then you're looking at a twenty
seven year old girl who's single, who can't find a
good guy. I think it's kind of illogical to not
think that their worldview is going to be somewhat different.
They're probably going to be voting for different things, and
(21:54):
it's only natural, I think, for the twenty seven year
old girl who's not married to look to government to
play some of that role.
Speaker 2 (22:01):
Right.
Speaker 4 (22:01):
And then when you.
Speaker 3 (22:02):
Look at how the fact that if you look at
Gen ZS and millennials, the other thing I think is
pretty pretty hard to argue is that they are probably
the least educated generation. Maybe not in some ways as
far as book sense, but as far as street sense.
You know, the amount of jobs they've had by the
time they're twenty one, right, just life experience and things
(22:25):
like this. I think you're looking at, you know, one
of the least hard working for a variety of reasons.
Speaker 4 (22:31):
And I don't think they'll always stay that way, but.
Speaker 3 (22:33):
One of the least independents, one of the most the
most caudal generation in US history. And I think you
add all that stuff into those dynamics and I think
it makes perfect sense. And the other thing I think
that you have in here is that you have it's
really ironic, right, The stability that free markets and capitalism
(22:55):
have provided is the very thing that makes these people
feel comfortable voting this way. Yeah, right, it's it's because, yeah,
because no no election outcome has ever meant a negative
change to their lives, right, think, right, really right? I
mean you'll see it on the streets, lamenting and freaking
out and protesting and screaming from their nether regions, you know,
(23:18):
at Trump.
Speaker 4 (23:18):
But in reality, what really happened.
Speaker 3 (23:21):
Nothing, There was no there was no negative consequence except
a reduction in crime rate.
Speaker 1 (23:25):
Yep, there's been. There's there's a poll that NBC News
put out and they snuck in a question here that
I don't think they know they snuck in, but they
asked about the outlawing of having a miscarriage, because you
know it's the legal of a miscarriage. Well you know that, No,
I don no, No, you can cross having a miscarriage because
(23:47):
it counts an abortion because you're going to be denied
a DNA. Uh, you're not gonna be able to have
the the baby if you have a miscarriage removed. If
you can report that, it's kind of as an abortion
and you're gonna be forced to carry around the dead
fetus in your body. You didn't know that. No, there
were twenty eight percent of women who counted that as
among their concerns.
Speaker 3 (24:05):
Look, I'm sitting there listening to interviews with people on
the streets and they're literally sitting there talking about Mom
Dami's policies and talking about government run grocery stores and
how that's going.
Speaker 4 (24:18):
To lower prices.
Speaker 3 (24:19):
I know, and it's I mean, everybody listening to us
knows this. But that literally is like watching somebody take
their shirt off, walk to the end of the dock
and fully believe they can jump in the lake without
getting wet.
Speaker 1 (24:34):
I know what, I mean, I know, and it's right.
But what they've done the Democrat Party one day is zach.
What they've done to women eighteen to twenty nine years old,
they've done. There's a new site called wine mom Antifa,
and it is tracking otherwise ordinary moms who've gone from
(24:54):
sipping wine to flirting with and getting into Antifa because
they leave that same sex attracted people and black and
brown people, the same six attracted people are going into camps,
and black and brown people citizens are being removed. They
believe that Trump is removing black and brown American citizens
(25:15):
driving through cities because they're black and brown. Have you
had to talk with their kids yet? If they see dhs?
But wait, I'm sorry. They have the country club card, right,
I'm sorry because if they'll just pull out, No, here's
my country club, golf card, my swimming oh okay, sorry,
private school card? No, sorry, no, and look that.
Speaker 4 (25:33):
And this goes back to where we're at.
Speaker 3 (25:34):
I mean, and I think social media ironically, like I've
said before, I think we'll look back at social media
and see it as the Tower of Babel, meaning, yeah,
we all marveled at our technological advances and we could
all speak the same language, and then this technological advance
blew all that up and and it nuked communication because
you have I mean, it is so we've had political
(25:57):
debates in this country since the beginning of its inception. Right,
what we have not done is had arguments about things
that are so obviously true or false, like somebody having
a penis being a woman or having a baby like you.
And you look around and you go, this is so nuts.
But this is literally how cultures tare themselves apart. Right,
(26:19):
You've got these people that believe all these things that
just aren't true, and it happens through the ability or
lack of education of the populace and the ability for
those in the pa Like that's I can't believe that
nobody talks about that. We talk about hate speech or
inflammatory speech. What about what's said on the media every
(26:39):
single day? What about when calling these people fascists and all?
And you know, how is that not inflammatory speech? And
you've got, like I said, you've got forty to fifty
percent of the country that's running around that believes something
that is objectively not true. And it's crazy, especially coming
from the people to talk about misinformation. This gets us
(27:02):
back to talking about None of this makes sense unless
you look at it through a spiritual leens.
Speaker 1 (27:07):
Oh, I hate to No, it's not forgottedness.
Speaker 3 (27:11):
No no, no, no no, can't can't say, can't say,
can't reference the Bible right.
Speaker 1 (27:18):
And God told us. Expect times like this, wars and
rumors of wars. Expect people who ignore sound teaching and
chase after false teachers, who wish article they're wishing their
their itching ears. And what we're seeing is people lording
their power over others, the hearts of many growing cold,
(27:39):
people who want to claim to speak of God, but
none of the majesty and of the divinity, et cetera.
And that is what we're seeing.
Speaker 3 (27:46):
The other thing that the other thing I think is
interesting here is it's it's not normalized.
Speaker 4 (27:52):
I think for one of the groups it is.
Speaker 3 (27:54):
But if you look at the left, you look at
this whole, you know, woke and all that nonsense.
Speaker 4 (28:00):
Who are the two groups? There are two groups that
are not afforded the same rights deferences, all that kind
of stuff.
Speaker 3 (28:11):
There are two groups that for some reason have been
castigated and do not get any protection from the last.
Speaker 1 (28:17):
You know, all those two groups are I can.
Speaker 4 (28:19):
Guess Christians and Jews.
Speaker 1 (28:23):
Yeah, and white Yeah, yeah, yeah, especially if you're white.
Speaker 4 (28:28):
That's the other.
Speaker 3 (28:28):
Thing that weirds me out is when you see a rise,
an irrational rise, frankly on both sides for political aisle,
which I find revolting of anti Semitites and anti Semitism
and simultaneously a turn against Christianity. The game is afoot,
right when you see those things, you are not fighting
(28:50):
principalities of this world.
Speaker 2 (28:51):
No.
Speaker 1 (28:52):
And look, you can critique the government of Israel all
day long and you don't have to become a Jew hater.
Speaker 3 (28:57):
Yeah right, Yes, it's it that I mean, that's like
saying I mean, for instance, it's like saying I hate
Carneye and therefore I hate all Canadians.
Speaker 4 (29:08):
Ridians are really nice people.
Speaker 1 (29:09):
Yeah right, I'm not anti Canadian exactly. Okay. I want
to ask you about buying signals near the apocalypse. So
when we're getting towards the end days, because just now,
lest minute, we took one step closer to the end days.
No one knows the day at the time, but I
want to ask you this because we were talking about
(29:29):
on Donny these signals the culture war continues. What's gonna
happen in New York. I was thinking about Ken, you
short New York realistate, could you have done this? So
we'll talk about this in a second. My friends at
Angel Studios did what HBO refused to do that Netflix
refused to accept. I know there were people who pitched
documentaries about Fauci and what he did to people and
(29:50):
what he is. They didn't do that. They had a
celebratory movie. There's been Showtime, et cetera, a whole bunch
of movies about Fauci the hero. What Angel Studios decided
to go and take an actual look at Fauci in
the entire COVID period of time. So they got an
award winning director named Jenner. First, he got exclusive interviews
(30:11):
with government whistleblowers, intelligence experts, dissident meaning truth telling scientists,
and doctors, and they went back to the very origin
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(30:33):
and we use the Wuhan lab experiment to see what
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(30:54):
people like Tony Fauci. It's Angel dot com slash herman.
All right, So here's where we're at. We were wars
and neervers of wars. We have the uprisings against the
Christian faith. We've got uprisings against the Bible attempting to
stop out God's word. We have countries being formed within countries,
division on top of division, and now an avowed so
(31:18):
called democratic socialists, funded from people outside of our country
here to defund the police, seize property, it take apartments
from others, give to some, and government grocery stores now
putting on the chief investment officer hat at Bulwark Capital
Management A Could I have shorted New York, rid the
(31:38):
States and be fixing to make a big amount of money?
Could I have done that?
Speaker 4 (31:44):
Maybe in some way, shape or form.
Speaker 3 (31:47):
There's probably some opportunities out there, but generally speaking, no,
it's and it's really it's really hard to short real
estate on that tide of a regional basis.
Speaker 1 (31:56):
Okay, you know what I mean.
Speaker 4 (31:57):
Yeah, so that that would be tough.
Speaker 3 (31:59):
But but I do you think that there are other
ways to benefit from the stuff you see going on?
Speaker 1 (32:03):
Oh oh good, I'd like to benefit from the destruction
of a good portion of our country. So so how
do we benefit from the destruction of the entire Eastern seaboard?
Speaker 3 (32:12):
So I look, I actually I'm going to say it's
fairly easy. And I think it's fairly easy in in concept.
The execution of it is is definitely more difficult and
requires a lot more work.
Speaker 4 (32:25):
But you are looking at a scenario. Now.
Speaker 3 (32:29):
Look, I want to talk about this with no hyperbole involved.
Let's just and and I think it's I think it's
best to do that.
Speaker 4 (32:37):
So we can just focus on the things.
Speaker 3 (32:39):
That we know, right, Like I always say in investing,
try to sit aside as many other things you can
to look at just the fact, right, set your politics
asides that social beliefs.
Speaker 4 (32:51):
You want to just analyze the facts. So here are
the facts.
Speaker 3 (32:54):
You are looking at a US stock market, uh, an
asset market in general, housings at all time, and affordability
as well. But you're looking to US or or US
stock market that is in i'd say ninety eight percent
of different metrics at by far and away, the most
overvalued has ever been in history. Now, that overvaluation, I think,
(33:17):
in all reality is significantly more than any other time
in history because you've got certain things that make the
valuations look more tame, like stock based compensation, which is
being used at a record amount, all these different tricks,
segregating different liabilities off in especial purpose vehicles. There's a
(33:40):
lot of different things right now that if you undid
those things and you actually looked at these corporations in
a way that a detailed investor would, you'd come back
and say, Okay, actually, valuations are an all time high.
Speaker 1 (33:51):
There's a lot of.
Speaker 3 (33:52):
Things in there that are that are i don't want
to say artificial, but window dressing to make valuations.
Speaker 1 (33:57):
Look look lower.
Speaker 4 (33:58):
Okay, So there's an overvaluation problem.
Speaker 3 (34:00):
But here's here's the more interesting problem.
Speaker 4 (34:05):
There are a lot of stock markets out there in
the world.
Speaker 2 (34:08):
Right.
Speaker 4 (34:08):
There's a lot of stocks in the world.
Speaker 3 (34:09):
Right.
Speaker 4 (34:10):
You can think around the.
Speaker 3 (34:10):
World, Europe and you know, Russia, and you know all
over the place, China and Japan, all.
Speaker 4 (34:15):
That kind of stuff.
Speaker 3 (34:17):
When you look at the MSCI World Index, which is
index of the largest stocks in the world, very representative
of the international right, the whole international community.
Speaker 4 (34:27):
Think about this.
Speaker 3 (34:28):
Of the MSCI World Index, thirty percent of the MSCI
World Index is the top seven stocks in the United States.
Speaker 4 (34:37):
That's thirty percent.
Speaker 1 (34:38):
That's seventy.
Speaker 3 (34:40):
I didn't say the SMP five hundred made up thirty
percent of the MSCI World Index.
Speaker 4 (34:45):
I said seven stocks did. Okay.
Speaker 3 (34:48):
Now here's the crazy part. We are the largest economy
in the world. The second largest economy in the world
is China. By twenty thirty, as it relates to GDP. Now,
we will still have a far more productive economy and
will have a much higher GDP per person, But in
terms of total size of the economy by twenty thirty,
(35:08):
US and China are going to be relatively not connect. Okay,
So you look in the MSCI World Index at China stocks,
all of China, their stocks make up three percent of
the MSCI World Index. So, regardless evaluation, what you are
seeing right now, that is an absolute historical anomaly. We
(35:31):
have no comps the amount of concentration of global money
in US stocks and the lack of concentration of global
money everywhere else. You have never been more historically tipped
the other way. The difference in valuation of our markets
compared to every other market has never been wider. And
(35:55):
what I think what you want to do here is
you've got to generate opportunity that we haven't seen a
set up like this in fifty years. Meaning literally, you've
got you've got You've got markets and things that are
breaking twenty five year.
Speaker 4 (36:10):
Down friends to the S and P five hundred twenty
five years.
Speaker 3 (36:14):
So what what the deal is is while everybody and
their mother keeps throwing money at ridiculously overpriced US stocks.
Speaker 4 (36:25):
They're giving them away in other parts of the world.
Speaker 3 (36:28):
And it's look, there will be ups and downs, there
will be volatility, But if you are not looking at
natural resources, commodities and international stocks, you're not an investor.
You're not an investor because every every portfolio I look
at Todd guess what they all own, they're all loaded
up in those same seven stocks. And meanwhile I'm looking
(36:48):
at them and the reason that they're loaded up in
them is because they've done so well. And I'm sitting
there going guys. Yes, but look at the valuations here.
Here's the other thing. You look look at the valuations
of these companies in terms of just large numbers. Okay, Palenteers,
everybody's darling right now, right.
Speaker 1 (37:04):
Yep, we got here Palenteer right here, yep.
Speaker 2 (37:07):
Yeah.
Speaker 3 (37:07):
So so Palenteer is doing four and a half billion
dollars a revenue, okay, yep, and they're at a five
hundred billion dollar market cap, so they're trading at one
hundred and twenty times revenue.
Speaker 4 (37:21):
Here's the issue.
Speaker 3 (37:22):
Okay, if let's say you, if you're buying Palenteer right now,
you must think that that stock is going to.
Speaker 4 (37:31):
Go up, right like, that's why buy stock right right
by low so high.
Speaker 3 (37:37):
So let's say your thesis. Now, now, Palenteer is growing revenues.
They've got a really healthy growth rate. They're growing revenues
at forty five to fifty percent.
Speaker 4 (37:45):
Okay. Let's say they hold that growth rate for the
next five years.
Speaker 3 (37:50):
Okay, and let's say that be you know, fifty percent
a year compounded for five years would put you up
around four x four x thing of your revenues. Okay, okay,
So if over the next five years, you four extra revenue,
which is incredible growth, right, that's unbelievable. What is your
(38:14):
projection for the stock? If your four extra revenue, you're
probably hoping the stock triples.
Speaker 4 (38:20):
Right, Well, here's the.
Speaker 3 (38:22):
Issue if the if the if you if you four
x the revenue like we're talking about, Yeah, okay, you
go to twenty billion, right, if you get a two
or three hundred percent gain on the stock because your
four x the revenue, you're looking at a market cap
of what so one point five trillion dollars.
Speaker 4 (38:41):
So now now you've got.
Speaker 3 (38:43):
A company that's doing twenty billion in revenue with a
one point five trillion dollar market cap, meaning that you're
up against the law of large numbers like the for
the stock to move up anymore a five a five
percent move higher in the stock equates to six years
of revenue at the current rate.
Speaker 1 (39:04):
So you're going So if Palaginer tried to sell the company,
Let's say they're doing that twenty billion and they go
out they want to sell the company outright, Okay, let's
just pretend this is the case we want to sell,
and you can have strategic implications. You know, they're going
to be part of the surveillance state. They're tied into
the deep state, so this could be strategic reasons, so
they could be a strategic bonus, right, right, And you
(39:28):
go to investor, you say, okay, so what are your revenues?
Twenty billion? Twenty billion? Okay, what do you ask for
the company? One point five trillion?
Speaker 3 (39:36):
Yeah, so if you were going to go buy a
fruit stand, well, let's say a coffee stand.
Speaker 1 (39:43):
You go to the coffee stand and you say, you
know what, I lived here here my daughter, you know,
she wants a place to work, and I kind of
just want to retirement job. I came out with people,
what are your yearly revenues here?
Speaker 2 (39:54):
Now?
Speaker 1 (39:55):
Don't we do a quarter million? Oh, it's not bad.
So coffee shop? And yeah, you know we sell merch
and some some stuff, some meals. Okay, cool? So how
many employees are they get? Three? What are you paying
them thirty grand a year? What do you want for
the place? Twenty two million dollars? Sweet? Is that relatively
spot on to what we're talking about here?
Speaker 4 (40:16):
Yeah?
Speaker 3 (40:17):
And and the and the and here's why overvaluation almost
more than anything. When you look at historically the LAMS investors,
mostly retail investors, right, even retail investors that are.
Speaker 4 (40:31):
Doing their doing their homework a lot.
Speaker 3 (40:33):
Of times because they sit there and they watch the
arc of the stock and they're reading the company results
every quarter, and they're going, well, they're still growing, right,
the narrative is still in place, so the stock will
keep going up.
Speaker 4 (40:48):
But then you forget about Microsoft.
Speaker 3 (40:52):
Right, So the old story from Mike from two thousand
and two to twenty twelve, Microsoft stock went nowhere.
Speaker 4 (41:00):
It made no money over a ten year period of time.
In the stock went nowhere. Over that same period of time,
revenue tripled. Okay, And people go, well, why didn't go anywhere?
Speaker 3 (41:11):
And you go because when at the beginning of that
ten year period it was trading at one hundred and
two times earnings, it needed.
Speaker 4 (41:18):
To triple its revenue to catch up to its valuation. Right.
Speaker 3 (41:21):
And so this is what happens in manias is stock
prices get detached from the actual underlying cash flows and
what people forget and pallunteer shareholders. I put in this
same place, Guys, you currently are buying this thing at
a price where it is virtually impossible on a cash
flow basis for you to be profitable in this trade
(41:44):
in the next ten years, like it's virtually mathematically impossible.
Speaker 4 (41:49):
Yeah, unless they do it.
Speaker 3 (41:52):
Nvidia and five exitrair revenue over the course of a
year and a half, and I will just tell you
you'll probably never see anything like that again. I mean,
it was a complete anoma. So it just it doesn't
make sense. The part that gives you a heartburn note
Todd is then you look around internationally, they're given stuff away.
Speaker 4 (42:12):
I mean, they're just given stuff away.
Speaker 3 (42:15):
And it's it is. It is a generational opportunity. And
not only is it that I think people are going
to get smashed in US stocks. I think they're going
to get smashed for a while, and I think at
simultaneously they're missing out on one of the greatest I've
never seen a buying opportunity with assets like this at
(42:36):
prices like this in my career.
Speaker 4 (42:38):
I've been doing this almost twenty years.
Speaker 1 (42:40):
There you go, So Zach explained the solid explanation. And look,
if you will go to Mexico and say, oh my gosh, honey,
they've got a leather jacket here for ninety nine bucks.
This is six hundred bucks in the States, and you
purchase it. Then you should be looking at the international stocks.
I mean that's me. I just like to boil it
down to my monkey brain thing. It's great to talk
with you. Great forgetting thank you for the wise count
(43:00):
all day. We miss you over here. Uh, I know,
you know I've talked about this tour to Tupelo and
some of these speaking dates and you coming out and
meet some of the folks. We need to do that.
But we need your folks. We need you to get
back over here.
Speaker 4 (43:12):
Uh you know what. Yeah, my wife and I always
talking about that. It's been a while since we've been
over there. Are you. Are you guys doing that that
conference again in like February.
Speaker 1 (43:21):
Yeah, and you got to come to that. We got
to come to that love too, and we'll give a
speech and uh we'll speak together and you can meet
a bunch of the folks and then Uh, I'm committed
to the trip down to Mexico. I just got the
numbers and the people going to be there for renew
got that's a little bit of travel coming up. But
we need to get you back over here and do
uh let's do a private event, uh where we just
sit down and we bring folks in and you answer
(43:42):
questions and we'll do it at a pizza place, a
certain pizza place. I'm not supposed to mention anymore.
Speaker 4 (43:46):
Okay, okay, why why can't you mention it anymore?
Speaker 1 (43:50):
It's a licensing thing, and they, you know, make pizzas
with I'm just kidding. I'm just kidding, trying to play
a big timer and all that. All right, Zach Abraham,
Chief best Officer, Board Captain man, thanks for joining us,
and we will do that again next week. This is
the Todd Herman Show. Please go, be well, be strong,
be kind, and please make every effort to walk in
the life of Christ.
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