Zach Abraham, Bulwark Capital, Talks About How Trump's Actions in Iran Affect the Markets

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:11):
The Chad Benson Show.

Speaker 2 (00:13):
Iran did they win?

Speaker 3 (00:20):
What does that mean?

Speaker 2 (00:22):
Because politically, absolutely this thing should be done. Trump won't
allow it to be done at this moment in time
because Trump lost, he did, we lost. This is arguably
the absolute worst. And I'm not talking about lives, Okay,

(00:48):
I want to preface that, and we're gonna talk to
our Gooboudy zach Abrahm, chief investment officer, coming up here
in a little bit, because obviously he deals a lot
in what is going on in the world of energy
and oil markets. But I'm a geopolitical point of view.
This is arguably the worst move we have seen in forever.

(01:13):
Iraq was awful. I mean, there's plenty of things that
have been a massive failure, but this right here is
a debacle, and only for the fact that his ego

(01:34):
and pride will not allow him the reality of saying, Okay,
we got to get off this. That's it, that's it,
We should be done, should absolutely be done with this.
So they're close to cutting a deal. Who Oman and Iran,

(01:59):
And yes, Iran is going to control the straits. That's
going to happen. I don't want it to happen. I
would love for there to be something else that takes place.
But that's going to happen. I think it's evident now

(02:21):
that is going to happen. Now do we continue with
the blockade? Is that what's going to happen that? I
don't know. But the deal they're close to finalizing Oman
and Iran is Oman would like three percent toll. Iran's

(02:42):
pushing for five to seven percent of whatever the value
of the ship is. Well, that's going to be passed
on to all of us. This thought that oh, he's come,
he's going to fix all of these problems. He's going
to get energy prices down. He's from day one, he's
going to fix all them. Where all the wars are,
It's been a failure across the board. It's the greatest

(03:05):
economy of all times, never been greater. It's never been greater.
It's the greatest economy.

Speaker 3 (03:11):
It's not the greatest economy of all times.

Speaker 2 (03:12):
Sorry, it's not. Oh it's great for certain people. It's
been awesome for others, not so much. Last night, Vegas,
I saw polls today on television.

Speaker 4 (03:23):
I say Donald's Trump polls on the economy aren't good.
The economy is the greatest economy.

Speaker 2 (03:28):
We've ever had by far.

Speaker 1 (03:31):
The economy aren't good.

Speaker 2 (03:33):
Fake poles just like fake writers.

Speaker 1 (03:34):
But think of it, and.

Speaker 2 (03:38):
I mean they're gonna run that everywhere all the time. Everywhere.
They're gonna run that. Think of it. When are we
talking about the fact that his tariffs cost us the
average American seven hundred dollars? Think of it. It's great,
It's never been better. People are frustrated. You want to

(04:01):
know why there's a rise of the DSA, And we're
later on we're going to break it down. The difference
between the democratic socialism and social democrats are two different things.
And are there wacky people in the DSA? Of course?
Are communists going to take over our nation? No? But
I will tell you this if I'm the Republicans man.

(04:21):
The excitement of lsied winning, Abdul l said in Michigan,
Oh that's huge. How excited are you? The gift that
keeps on giving, The gift that keeps on giving is
the opportunity to go after socialists.

Speaker 3 (04:42):
Right, So it's a perfect say.

Speaker 2 (04:45):
Most people can't even tell you what a socialist is
or a communist, And for God's sakes, I couldn't even
tell you what a Democrat or Republican represent anymore, because
I don't think they represent anything outside of their own interest.
They're crony capitalist that enjoy the two party system that
they have monopoly. So I'll say he is going to

(05:05):
have to try to pivot. But here's the thing why
it's important there and why this is a gift, right,
an absolute gift for the Republicans is if they're able
to win that seat with Mike Rodgers, they've about a
ninety percent chance of holding onto the Senate. That's how
important that seat is. Now, Hayley Stevens was pulling way better.

(05:27):
And we've talked about the quality of candidates. I continue
to go back to the quality of candidates matter. We
talked to Jim Kennedy, Canadiatestitute of Public Policy Research, quality
of candidates matter, matter matter. I can't express that enough
to you. That being said, he's going to have to
do some things. He's gonna have to pivot. He's got

(05:48):
some stink on him, there's no doubt about it. That's
a win for the Republicans running against him. Now. His
message at a time when people are not saying it's
the greatest economy of all time, and there is a struggle,
and they are frustrated. They're looking at crony capitalism and
looking at another war, and they're looking at a lot
of things that they're not comfortable with at all. Well,

(06:12):
you know what, You're going to have some issues to
fight there too. But it's now all about communism, socialism,
and Trump's gonna he's gonna run with it.

Speaker 4 (06:21):
Have you remember during my State of the Union speech
from a little while ago, I made a very strong
save and I said that America will never be a
socialist country.

Speaker 3 (06:37):
And I was right.

Speaker 4 (06:41):
What I didn't say is what they're trying to do
not they want to skip socialism. They want to go
right down to the bottom of the barrel. That's communism.
They wanted to be a communist country.

Speaker 2 (06:52):
We're not letting them.

Speaker 4 (06:53):
Have it as a communist country, not even for a minute, not.

Speaker 2 (06:57):
Even from then, not even for a minute. It's not
going to happen. It's never. We're not going to become
a communist nation. It's not going to happen. All right,
It's not. It's not. But it is a great story
to tell because remember, all monsters that are out there,

(07:19):
they need something to fight against and all heroes need
a monster, and so that's how they pit each other.
There isn't Apparently there is a new cartoon that's going
to come out. Now it's weird that I'm talking about
a cartoon, right, and you're like, yeah, but you know what,
I think it definitely in this situation is perfect and

(07:42):
it's the Joker and Batman. And I say that because
both sides see themselves as Batman and they look at
the other side it's the Joker. Well, this new cartoon
that's going to be coming out eight part cartoon where

(08:02):
Batman is murdered and Joker has an existential crisis because
you see, without Batman, who is he? Because he doesn't
have the good guy to fight against or the bad
guy depending on how you look at it. So the
thought is in this cartoon, who am I without Batman?

(08:29):
I'm just a dude. And then the cartoon will break
down where his whole goal now is to solve Batman's murder.
That's the whole goal because without Batman, he's not the Joker,
He's just another guy. There's no arch nemesis, and the
Republicans have that. With al said and all of these

(08:51):
they've got the democratic socialists to.

Speaker 5 (08:54):
Go after with communism. With leftism.

Speaker 6 (08:56):
President Trump made very eloquent remarks at a conference earlier
this week talking about democratic governance. Look what's happened to
Los Angeles. Look what's happened to San Francisco. Look what's
happened to New York City. When leftists get control and
they ultimately turn socialists and then communist, there's a point
of no return. You can't save your schools, you can't

(09:17):
save your city, you can't save your community because they
hoard power.

Speaker 5 (09:21):
They suppressed the said.

Speaker 6 (09:22):
They gain control over institutions, they gain control over taxpayer dollars,
They got the police departments, they drive out good people.
We will never let that happen to America.

Speaker 5 (09:32):
We cannot be apathetic.

Speaker 6 (09:33):
We have to fight to save this country. We have
to stand behind President Trump.

Speaker 2 (09:38):
Steven Miller there. Oh, and to port all people who
are white. I'll just do that in there for me.
They've got a great joker to fight against. They do,
and Mondonnie is the face of that. Trump sees himself
as batman and mcdonnie is joker, and vice versa. What's

(10:04):
the reality of it? That's what I want to know.
What's the reality of all of this stuff. We're gonna
break it down next hour. We're gonna get into it
because people are frustrated, and they have every right to
be frustrated. Politics has become this wacky performative thing. We're
very little in the real world gets actually addressed or

(10:29):
taken care of, and in many cases government steps in
that make it worse. And in many cases government made
it worse, and then they want to step in again
and try to fix it. It's that old thing where
you know, you started a fire, then you put it
out and you want everybody think you're the hero. So

(10:51):
we're going to talk about that. A bunch of other
good stuff on the way today as well. Our buddy
Zach Abraham is going to join the show a little
bit earlier this week. Well, talk about out the chaos
of what's going on in the Middle East and is
it finally over when you look at this final stretch here,

(11:12):
is this the final thing as far as we recognize,
this isn't going to go the way that you know
Trump wants, and you know what's that going to do
to the markets in the marketplace as well as several
other things.

Speaker 3 (11:28):
So we're going to have him join the program. Coming
up a little bit.

Speaker 2 (11:30):
Top of that, I want to talk about the reflecting
pool and why it should matter when it comes to
what they tried to do to this hern guy, the Olympian.

Speaker 3 (11:42):
Was he a canoe er? The canoey guy?

Speaker 2 (11:45):
Talk about that as well a bunch of other good
stuff On the way board Capital, I want to talk
to you about Bolt Work Capital. We're going to talking
to Zach coming up here in a little bit and
Bort Scott. A lot of things that they do when
it comes to how they help the people they work with.
But before you become somebody you work with, why don't
you sit down and talk with them find out what

(12:06):
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That's what I love about him, straightforward kind of guy.
You guys listen to here every week, and he just

(12:28):
wants to show you. Look, this is who we are.
We're about risk management. Let us show you exactly what's
happening in the market. You can make your decision from there.
So why not get a second set of eyes with
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Speaker 7 (12:48):
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Past performance doesn't guarantee future results Trek twenty six to
one one two Chad Benson Show.

Speaker 1 (13:08):
You're listening to the Chad Benson Show.

Speaker 2 (13:10):
All right, everybody stand back. Steven A. Smith's about to
go crazy over the WNBA and Sophie Cunningham and the
insanity of what's going on with the WNBA and her
her coming out sticking up for women's.

Speaker 8 (13:24):
And girls' sports of which she is a actual participant
in over biological men playing in their sport.

Speaker 2 (13:34):
Okay, stand back, here we go. We gotta stop this.

Speaker 9 (13:38):
We gotta stop acting like somebody that's speaking up on
behalf of girls like a Sophie Cunningham like a Raleigh
Gaines or Sports of the Earth. You are, Sheel Reeve,
the head coach of the Minnesota Lynx. That is an
irresponsible thing to do. You are a coach for a
female basketball team. Do you not think that the females

(14:02):
are being screwed over if they have to compete against
an individual born as a male.

Speaker 3 (14:08):
Were you talking about?

Speaker 2 (14:09):
What are you talking about?

Speaker 9 (14:11):
You're trying to tell me that a college player for
the men's at a college program anywhere in the country,
or an NBA player should transition to being a woman
and be allowed to compete in the WNBA.

Speaker 2 (14:28):
On a collegiate level.

Speaker 9 (14:29):
To a woman's college program, whether it's Yukon, South Carolina, Iowa, Tennessee,
or where I've asked you want to come up with?

Speaker 2 (14:40):
What the hell are you talking about? Who? He's right though,
but it's this is a great culture war battle. This
is a great culture war battle that is going on.
Ten out of all the college athletes, five hundred thousand,

(15:02):
there was ten trans athletes. By the way, they were
all from what I understand, men identifying as women. That
being said, what Sophie Cunningham said was not outrageous sticking
up for little girls who want a fair playing field.
And this is the thing that makes me laugh about

(15:25):
the left. Okay, believe in science, except for this science.
Second thing is we want it to be fair and equitable.
It's not fair and equitable if you're going to do that.
I've told you, guys, you want to fix this problem.
Here's the deal. You got a trans player who identifies
as a female on your team. Fine, we're going to

(15:45):
go over to the boys team. We're gonna get one
of them to come over, and that way it is equal.
Watch what happens. Then all of a sudden, you're gonna
just have eleven guys versus eleven guys on the soccer team,
five versus five on the basketball team. Come on, we
got to do better than this. You'all agree, let me know.
I want to hear from you three two, three, five,
three eight, twenty four to twenty three at Chad Benson Show.

(16:07):
Is your ex insta YouTube and all the other good
things right here on the Chad Benson Show. And I
love when you guys text a program forty eight to
seventy three. Just said, Chad, how can you say America
lost this war, and I want to preface this. We
didn't put boots on the ground at least now yet,
thank God for that. Secondly, it's not whether or not

(16:29):
our military military can defeat Iran. We know it can.
The question is at what cost.

Speaker 3 (16:38):
To humans.

Speaker 2 (16:40):
On their side and our side are we willing to
risk That's a big question to ask. Are we willing
to kill tens of thousands, maybe hundreds of thousands as
well as thousands of our men and women. It's not
whether or not we can win. This is a political loss.

(17:01):
It's that simple. It's a political loss the military side,
let's be real. But on the other side of it,
on the politics, that's the issue. What do you think?
Am I wrong about that? Or am I missing something here?
Because I feel like I'm pretty spot on with but

(17:23):
I could be wrong. I've been wrong before. I will
be wrong again because I am a human. I know
it's a shocking thing to hear. I am coming up
Zach Abram, chief Bestment Officer board Capital Joints, show a
little special time with him today about the economy and
also what's going on in the Middle East.

Speaker 3 (17:37):
He joins a straight ahead Chad Benson show.

Speaker 1 (17:39):
Then Chad Benson Show, The Chad Benson Show.

Speaker 2 (18:02):
Alrighty, alrighty, it's that time we talked to our good
buddy zach Abram Chivestment officer Bullward capitally talk about, you know,
a little bit of the markets, a little bit of
global economy, a little bit of politics owning there, because
how can you not. First we start with oil. So
you and I were just talking before one on air.
I mean, I feel like this is it right here.
I mean, they've kind of excluded Trump actually from even

(18:23):
the the the meetings that are going on, and at
the end of the day, it looks like they're gonna
walk away with the control of the Straits of Horror
moves along with Oman and we're gonna get a higher fees.

Speaker 3 (18:36):
You know, man, I was, I was having a conversation
about this earlier today, and I mean this earnestly. Well,
actually I was talking about it on our podcast too,
because I saw I don't usually look at the comments
on these things. I'm sure we don't either, But it's
really cool because we've got a bunch of really awesome
people that are really smart, really informed that watch your podcast.

(18:57):
So every once in a while, depending on the on
the episode all going there and look at some of
the comments, because some are some are really smart, and
a couple of them were criticizing the way that we
were kind of dancing around Trump, and what I was
telling them is, and I think it's one of the
reasons you and I got along or get along too,

(19:19):
is that so many people in this business are gas
lighting on a regular basis, yes, right, total, and they
are purely shopping for clicks, and they're doing all that,
you know, doing all that kind of stuff. There are
very few that aren't very few you and I know
it like they. If if we could just speak off

(19:40):
the cuff and start throwing out names, I think people
would be shocked, right.

Speaker 2 (19:44):
I tell everybody in my business, I know, I work
and know fifty people that are up up Trump's butt.
They will never ever, ever be even off the air,
They'll tell me, oh, man, I can't believe this. But
on the air, they would never do that. And I'm
the exact opposite. I might tell you what I think
and the reality of.

Speaker 3 (20:04):
It, yep, yep. And so when I look at the
way this has gone, I will honestly tell you there
is absolutely no part of me that is happy about
how this looks like it's concluding. That being said, Chad,
it's concluding exactly how you and I talked about it,
concluding six months ago. It was the most obvious thing.

(20:25):
It is the biggest cell phone I have ever seen
in foreign policy. And look by saying that it's not
the biggest disaster, not even close in terms of it's
not a Vietnam, it's not a big well I could
could be seen historically as a bay of pigs type scenario.
That's certainly possible. But I mean, look, there's been several

(20:46):
several other things that we've done that have been far
more costly in terms of lives. So I'm not trying
to I'm not trying to say that now. Had Trump
put boots on the ground, I'd have been like, okay,
you're flirting with being on part of Vietnam. Okay, But
he didn't. I'll just go back to the week that
this happened. I remember my head of research, Chase Taylor
for more Air Force Intel guy, super smart, super well connected.

(21:07):
He was like, Zach, We're going to hit Iran and
I went, no, We're not. I go listen. Trump's trying.
He's trying to jet up leverage. That's why he took
the Ronald Reagan into the Gulf. He's trying to scare
him into submission. He's trying to cut a better deal
than Obama had with him. Right then, all of a sudden,
the bombs start dropping, and I was the most surprised
person on the face of the earth. And the reason
I was surprised is because we believed going into this

(21:31):
that their reaction function would be to close the strait,
because they said it would would be. We did not
believe that we could reopen it. And the reason we
didn't believe we could reopen it has nothing to do
with our military capabilities. It's called a map. Pull one out,
go look at the straight and imagine to yourself that
your job, over a five hundred mile area of coastline

(21:54):
is to hide, conceal, and park innumerable amounts of missiles
and ordinances and zones and do them in all these
little areas. So, oh, we're just going to take out
their missile. Where are you going to hit? Which one
of the fifteen hundred different locations are you going to hit?
Which one of the eighteen hundred different stockpiles of drones
you're gonna hit. They're all over the place. Man. It's

(22:16):
literally like pulling out a three to oh eight a
threeh eight gun because you're getting attacked by a swarm
of bees. Right, good luck. Right, That doesn't mean you're
three eight's useless, just means they going to do anything,
gets right. It's the ordinance and the target are just
off balance. They don't. There's no one for one there,
and so we just didn't think you'd be able to

(22:37):
open the straight. And it wasn't just us that thought that.
We were relying on a lot of wargame professionals that
have been talking about it for years, you know, weighing
all these things out, and you kept thinking to yourself,
as a guy that voted for Trump three times, you
kept thinking to yourself, Okay, hold on, there's got to
be more here. We've got to have a we've got
to have a card up our sleeve that makes sense, right,

(22:58):
This will make sense on point. It just didn't. It didn't.
This was the most blind self own I've ever seen
in foreign policy. And we're gonna have to see the
way it rolls out. But I think that quite possibly
this could kind of spell the effective end of his
presidency depending on how the base reacts, right because I
think when I don't, I think we're gonna give them

(23:21):
the straight. I mean, we're not going to give them anything.
They've got the straight right now, yeah, and I think
they're going to keep it and that's the big thing
for them. And I'm kind of I'm kind of watching
like this, you know, because I think when a lot
of his supporters see the way that this thing rolls down,
I think they're gonna be pissed, and rightfully so. And
when you look at all the things going on around
in the world, like New York City and hearing the

(23:42):
West State of Washington, like, we didn't need this right now, Man, No,
this does not help our cause. If we're trying to
beat back crazy communists and socialists that are talking about
seizing the means of production. This did absolutely nothing to
help our cause. So, man, it just doesn't look good.

Speaker 2 (23:58):
Talking to zach A RAMCHIVS Officer bowl Ard Capital, let's
talk about the market. It's the reaction, you know, It's
just SpaceX perfect example. It's like they come out and
they're like, we this is what we did and stuff,
and I'm like the amount of money you bring it in.
If it wasn't for Starlink, you guys would be so
upside down that it's not even like, what are you doing?

(24:21):
I mean, starlink is the only thing they have going
for I'm outside of we have a rocketship and we're
going to go to space one day. I do believe that,
but those are so far away, and I'm looking at
this and I'm thinking to myself, how is the market
doing what it's doing when? How are things trading at
fifty sixty seventy at gazillion times earnings? How is that
even sustainable? So it's not.

Speaker 3 (24:43):
Here's the weird dynamic though that you've got going on.
Here's a data point that I find incredibly inconvenient. Just
put it out there, just to be honest. As a
guy that is so fundamentally driven and focuses on fundamentals
and valuations, this is a hard data point for me
to to acknowledge because I want to. You know, it's
that human instinct. Oh, this is all nonsense. It's all

(25:04):
over priced. If you sit and look at Nvidia today,
in Vidia has the lowest forward pe ratio that it's
had in five years. I think what you have is
a mix. I think you have some things that are
very optimistically priced, but when you look at the underlying
trajectories and the underlying dynamics, it's not insane. Okay, is
in Vidia cheap? No very expensive, but some things deserve

(25:28):
to be very expensive. If this CAPEX spend runs for
another three years, two and a half years, three and
a half to four years, somewhere in that ballpark. As
insane as it sounds, I think that some of these
prices make sense. If that continues, then I think you
look at other things right now that under the best
case scenarios, and I just don't think people really understand

(25:49):
the way stocks. You know, how you value a stock
and how you price it. You know, then you flip
over and look at companies like Palenteer or like SpaceX.
They're not exactly the same. I mean, Palenteer has talent
here is far more than a concept. Right They've got
some incredible tools, some incredible stuff, But again, their price
so exorbitantly that it's just hard to make heads or
tails of that. You know, when you see something that's

(26:12):
I mean, I think I think they're trading it like
eighty times revenue or something something along those lines. I mean,
it's it's it's it's insane. So I think what you
have is, I think that you've got some sanity inside
of a bubble. Even in a sector you can kind
of find stuff that isn't bubbly, and then you find
stuff that's just like, rip your hair out. This is
so insanely priced. It's it's maddening. Do I think that

(26:34):
there will be a moment in the future that you
can own SpaceX. Yeah, Elon musk Is and the guy
that want to I want to bet against. You know,
the stuff he's been able to pull off is incredible.
I think that Rock and his AI company x Ai,
I think it probably will end up being a big deal. Again,
I don't want to bet against the guy. Here's my
thing with SpaceX. I think until we see the vast

(26:56):
majority of this supply come online and in terms of
the you know, the locked up shares, I just don't
think that you can evaluate or own that thing until
the walk ups are over because the market wised up
to that pretty quick. So it's kind of weird.

Speaker 4 (27:11):
Man.

Speaker 3 (27:12):
Like I said, the other thing I'll flip around is,
you know, everybody is so us centric. You look around
the rest of the world and it's the opposite of
a bubble.

Speaker 2 (27:20):
Right.

Speaker 3 (27:20):
The delta between international valuations and US valuations still the
biggest of all time. And people need to remember AI
is going to be a different kind of technology, meaning
it's not like Windows, It's not like Facebook, where the
owner of that technology wins. If AI is what everybody's
projecting it to be, then it's going to benefit all

(27:40):
of these companies wildly. So when you look at the
AI optimism, it's laughable that that optimism is not extrapolated
to any x US companies. Right, yeah, So look over
at China. I mean, I you make a really good case,
and I could make it right here. China will be
a bigger winner from AI than anybody else. Why they
make it everything automation, further automation, lower costs, all that

(28:03):
other kind of stuff. I'm not saying to sell everyday US.
I just think again, investors are you know, home country
bias is a real thing. It's something to be careful of.
But I think especially with the way that these market,
you know, the US market's been the only game in
town for fifteen years. That stopped about a year and
a half ago, and I think the issues that I

(28:24):
ran this year, the stuff that's happening this year is
going to get people's eye off the ball and they're
back to thinking only about US stocks, and I think
that's a big mistake. So it's it's a bubble. Part
of it's a bubble, part of it isn't. And then
you know the other thing that I'm trying to stay
open to, Chad, and you know this what drives clicks
or extreme views, right, you and I both know this.

(28:47):
There's some guys that I use as counterweights to a
lot of my arguments, meaning guys that I've disagreed with
a lot in the past, and a few of those
guys have been right several times. And those are the
guys that I really try to bounce my opinions off
of and look at and several of those guys who
are really accomplished and are really smarter saying, look, man,
I understand how you're uncomfortable with the valuations, but there

(29:09):
is no sign of this slowing down. There are serious backlogs,
you know, looking at Ram. Are the prices in RAM
and memory right now? Are they sustainable?

Speaker 5 (29:18):
No?

Speaker 3 (29:18):
Not over the long run. Yeah, But are they sustainable
in the short run, Well, yeah, because with RAM right now,
you have a foundry issue, meaning you just don't have
enough places to make it. That is not simple, It
is not easy. It is not cheap to make those.
You can grow that capacity by about twenty percent a
year right now. The demand for it is growing in
excess of one hundred percent a year. So as long

(29:39):
as you have that imbalance, the prices are going to
be stuck to the ceiling on that stuff. And I
think you have to entertain the idea of that that's possible,
especially if the stocks in the hyperscalers are maintaining altitude.
You know which I was talking about. I don't know,
you and I were talking about it. But the other
day Microsoft denounced their earnings and they announced increased to
CAPEC spending for next year, and the stock was up

(29:59):
twenty five five percent, or almost twenty percent in the
after hours. I was just dying laughing, right, And the
reason I was dying laughing is investors are pushing that
multiple up, basically enabling Microsoft to dump more stock on
their head. As long as you see to me, I mean,
if the hyperscalers take a thirty to forty percent market
capitalization hit and can't get off the mat that would

(30:20):
be a really big concern. But as long as investors
keep bidding these guys up while their cash flow goes negative,
they're going to keep selling stock. As long as they
keep selling stock, they're going to keep buying chips in memory.
So we're kind of looking at it and entertaining, Look,
I don't want to go hip deep into these things
because of the valuations and the concerns and all that
kind of stuff we have. That being said, we got

(30:43):
to consider that. We got to consider the possibility that
this land rush goes on for another two or three years.
Does that mean I want thirty percent of my portfolio
twenty percent of my portfolio?

Speaker 10 (30:56):
Know?

Speaker 3 (30:57):
What it does mean, though, is that you might want
to have what we call a right tail hedge on there,
right meaning something that that if it if it goes
really bad, won't make a meaningful dent to the downside
in your portfolio. But if this trend continues, something that
at the very least can kind of keep you up
to speed with the market and these things. And we

(31:19):
have to consider that we have not done that yet.
I want to be clear there's there's more work we
have to do. But it's it's a really weird environment
because some of some of the some of the price
action you see makes some sense. A lot of it doesn't.
But in that in the part that makes sense, there
may still be some serious opportunity there. And it's a

(31:39):
it's an idea.

Speaker 8 (31:40):
That is.

Speaker 3 (31:42):
Distasteful to me on the outside being again, like I said,
being a guy that's so tied to valuations. But you know,
I've made mistakes before of underestimating growth stories. You know,
Facebook comes to mind, Google comes to mind, Amazon comes
to mind. And you know when you have those experiences
is you've got to be open to the idea that
you could be wrong. At the end of the day,
our job is to make money. And you know, we

(32:05):
don't get any bonus points for being what you know,
intellectually puritanical, right like the jobs to make money and
so when you're wrong, figure it out as quick as
you can. That's it.

Speaker 2 (32:16):
Zaved zach Heram, Chief Bestment Officer, Bollard Capital. People want
to reach out to you, talk to you about all
the things that are going on. What do they do?

Speaker 3 (32:21):
Yeah, man, easy to find, so you can look at
our podcast on YouTube just search to Know Your Risk
podcasts put that out daily. It's about twenty five thirty
five minutes summation of everything that's gone on that day
and global macro economics, finance, all that kind of stuff
keeps you up to date. You can also follow us
go to our website for advisory services. You can speak
to me or one of our advisors. Bulwarkcapitalmanagement dot com.

(32:43):
Not hard to find, man, We're all over the place.

Speaker 2 (32:44):
Good talking to you, brother, Do it again next week.
All right, man, thanks for having me in Cognate. You
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Speaker 1 (34:11):
I like, yeah, so what it's the Chat Benson Show.

Speaker 3 (34:19):
It's beginning to look good lot like Christmas, at least
at Home Depot.

Speaker 2 (34:26):
Are you ready for this? Home Depot has launched Christmas
stuff already, as well as Halloween stuff, but they launched
Christmas in July sold out all of their two hundred
and ninety nine dollars items. Are you ready for that?
I mean, is that insane? Insane? So these are extra
tall figurines that carry an illuminated lantern which offers a

(34:47):
realistic flickering flame effect. Oh Santa's lanterns featuring their built
in timer, meaning users can maximize the effect of said flame.
So that's an eight and a half foot towering Santa
and then their led Reindeer Santa decor one also sold out.
The reindeers wear bright red rains with LED lights in August.

(35:08):
Don't you think about that? In August? You know? Like well, Chad,
I mean, come on, I mean they're getting early. I
get it. Halloween stuff's already up there too. That I
get that. I get because you know we're we're a
month away from September. That's when it ramps up for
the Ween. But it's all happening. Here's my question, when
is it the right time? September? Is August too early?

(35:30):
I mean, the battle is on, people want to celebrate it.
Let me know. I want to hear from you three two, three, five,
three eight twenty four twenty three at Chad Benson Show.
Is your ex insta right here on the Chad Benson
Show coming up? Our number two of the program. A
lot of stuff to get to, including a crazy story
about a pastor who thought he would turn to doctor

(35:53):
chat GPT and it almost cost him his life according
to him. We will discuss that. Man, we're getting close
to singularity. Little discussion of that probably coming up today
or tomorrow. Top of that, we're also going to talk
about the whole battle of Sophie Cunningham and the WNBA.
It's not stopping and it's only getting louder. We will

(36:14):
discuss that as well. We got your urban word of
the day, so many more other things straight ahead. This
is the Chad Benson Show.

Speaker 1 (36:22):
This is the Chad Benson Show. The Chad Benson Show.

Speaker 2 (36:53):
Branding of matters, words matter, Democratic socialism, What's that?

Speaker 3 (37:00):
Is it evil?

Speaker 2 (37:01):
Is it bad? Can be depends on the person. Communism evil, bad,
failed system. We know that why because there's no perfect people.
You need perfect people to live in a world that
the communist dream of, and because human beings are, as
we know, fallible and imperfect, myself included. Hand raised, you're

(37:25):
not going to get that perfection right, that's utopia that
doesn't exist. The Republicans were handed a win the other
night because abdual Alsayed one now, a dual Alsayed has

(37:46):
a lot of issues to deal with, one of which
he's branded as a socialist, Okay, Marxist, Leninist, Islamic you know,
goes through. It's funny to hear how he is branded.
Does he have some crazy ideas maybe for some out there,

(38:09):
But it's not about his ideas, right, because you can
sit there and debate ideas. This is about branding. Like
I said, it's words. Words matter because what's the one
thing we always talk about here. I could try to
convince you or or I could scare you. Let's do
the second one that's easier. And that's what they're doing, right.

(38:33):
It's evil, it's bad democratic socialists. They're going to destroy
the world, et cetera. Socialism. Look, the DSA is insane,
but the DSAY is this large coalition of some wacky
some what you would consider, you know, European socialist model, which,
by the way, socialism in Europe. Everybody points to Scandinavia.

(38:57):
They'll all tell you the same thing. They are not
socialist social democrats. What is that? And that's the thing
where the Republicans are lucky that the DSA exists. Because
the DSA is, like I said, full of wackadoos, and

(39:17):
that way Trump could come out and say stuff like this.

Speaker 4 (39:19):
If you remember, during my State of the Union speech
from a little while ago, I made a very strong savement.
I said that America will never be a socialist country.

Speaker 2 (39:35):
And I was right. What I didn't say.

Speaker 4 (39:40):
Is what they're trying to do not they want to
skip socialism. They want to go right down to the
bottom of the barrel. That's communism. They wanted to be
a communist country.

Speaker 2 (39:50):
We're not letting them have.

Speaker 4 (39:51):
It as a communist country, not even for a minute,
not even.

Speaker 2 (39:55):
For a minut, not even for a minute. It's not
gonna be a communist country, right communism. But by the way,
I look around and I say, okay, what communist nation
still exists?

Speaker 3 (40:06):
Cuba, North Korea.

Speaker 2 (40:08):
And people will say, well, you know, China, China's not
a community. The Communist Party runs everything. But communism as
the form that everybody thinks of, that's gone. I mean,
you just have to look at China and say, okay,
this is an authoritarian, capitalistic market that is being run there,

(40:33):
not a you can own private property. They encourage you.
You can own now still they're the state. They coming
in any given time and take your stuff. By the way,
do you think America could do that? We're dealing with
it here the data center next to the zoo in Nashville.
They voted the other night to say, okay, yeah, we
can declare eminent domain and take the data center away

(40:58):
from the company DC Blocks.

Speaker 3 (41:02):
Well, they voted on it. You see where I'm going
with this.

Speaker 2 (41:05):
So China is an authoritarian nation with communistic ideas. That's
what they've become because they realized the communism you know this,
you know, aguarian society of happiness and utopia was never
going to work. They're all going to starve the death
and they did. So you have really very few communistic countries.

(41:32):
But it's a great thing to say because the branding.
If I can brand you a communist, if I can
brand you as socialist, if I can brand you a fascist.
The left tried it with Trump, but it didn't work.
It didn't work. They think people say, oh, he's a fascist,
is all this, but it's none of it's real in

(41:52):
the way that we would think of fascism, go back
to the Nazis and stuff. It just it's not and
they're doing that here. The issue is people are living
in the time of struggle financially. They hear Trump come
out and say it's the greatest economy in the history
of economies. It's never been better. Don't listen to the polls.
People don't feel that way. They don't, so they've got

(42:14):
a great opportunity here, though the Republicans to capitalize on
democratic socialism now Outsai ed is not. I don't think
he does anything with the DSA or any of that stuff.
But this is where the left will blow their opportunity here, right,

(42:35):
I'd like to make fun of both of them. As
you guys know, I'm an equal opportunity ofender. You're going
to blow it because you're not taking advantage of a
time when Trump is struggling. We're in the midst of
a war that he promised we wouldn't be in. The
rich are getting way richer, the middle class is being
squeezed out of everything. People are struggling because the high

(42:57):
cost of not just gas, but inflation across the board.
You're missing your opportunity because you're you know, you are
hanging out with some wack cadoos. You are, and they're
in the lead. And by the way, the Republicans are
throwing money at many of these candidates, why is that
because they want them to win. Haley Stevens wins. The

(43:18):
other night, Mike Rogers has a huge problem that they're
going to have to battle. I'll say it wins. Well,
you know, he's Islamist, he wants to bring Sharia law,
he wants to bring communism and take everything away, and
he'll come out Zama capitalist. But it's so he even branded,
you're not gonna win.

Speaker 3 (43:38):
You're not gonna win that.

Speaker 2 (43:40):
Most people believe the first thing they hear getting them
to change their mind on stuff so hard. There have
been several studies done through the decades about hearing something
first and then giving too much weight to it. So
if you're able to brand somebody as this person here

(44:02):
is the second coming of maw or this person here
who's running it for president wearing the red hat here
is a Nazi, then anything after that you've given so
much weight to that that you're going to fail to
try to change people's minds. What happens is experience over

(44:25):
and over again in situations that people were promised this
was going to happen, and then it doesn't. Eventually, what
ends up happening is their minds are changed through experience
more so than somebody saying, hey, I'm not a socialist
or a Nazi. Well, that's not going to change their mind.

(44:49):
They have to live through something on numerous occasions to go, hey,
that person isn't a socialist or a Nazi. One of
the other things that isn't being discussed too. Both parties
don't like the dssay have you noticed that? And the
reason is because it's a threat to the two party system,

(45:09):
the monopoly that's out there, and that's something to pay
attention to, because when you go and you look at
what the likes of you know, Mike Johnson has said
in the past or many of the establishment Democrats, they
go after the DSSA and they'll even times Mike Johnson
mentions how much the regular Democrat party doesn't like them

(45:33):
because they don't like the fact that there could be
a third party getting in on their action and they
don't like that. I mean, you know, they the Libertarians
don't count and the Green Party, the DSA is making noise.
The Republicans don't like it because they're the populace and
the things they're talking about is obviously moving the needle

(45:54):
in some areas. The Democrats don't like it because it
goes against their establishment and either of them don't want
to see, you know, growth in this whatsoever. So when
you sit here and you look at this and you
see what's going on, this is what's coming. They're going
to be Communists, they're gonna be Marxists, they're gonna be
all of the things, and the world's going to go

(46:15):
to hell. The establishment Democrats are going to struggle because
they look completely out of touch, which they are, which
most politicians are nowadays, and they look like they're part
of a corporate money grab, which again we've talked about
they are in many cases. And so what ends up

(46:36):
happening is you've got we've talked about the civil war
going on in the Democrat Party for who's going to
win that. See Trump won the Republican Party for the
most part. The problem is Trump is a singular person.
The DSA is beating up the Democrat Party and the

(46:58):
DSA is many things, and they don't like that. And
when you go look at the difference between Democratic Socialists
the DSSAY and Social Democrats, which you see a lot
in the likes of Scandinavia's free market capitalism with a

(47:19):
social safety net. Oh and by the way, not just
two parties, numerous parties is what they push. Neither side
wants numerous parties. They don't want you edging in. And
the Republicans have their issue as well, because you had
Tucker last night, and we'll talk about it next hour.

(47:39):
A little bit more coming out, laying out his ten
foundational rules of what they're trying to do with the
potential new party but not quite a new party, and
is this the rights version of the dssay. We'll discuss
that a little bit more coming up next hour. A
lot of stuff to get to today. We'll talk a
bit more about flock cameras. Oh those things. Ooh, those

(48:00):
flocky cameras, because if you didn't hear what the CEO
of Flock Camera said about the deflock people, you need
to hear this. Top of that, we're going to talk
about the lawsuit that's going down Bucky's again coming hard
at a small, little singular convenience store. Talk about that

(48:24):
as well as the reflecting pool mess, a bunch of
other good stuff, releef factor, which is great stuff. I
want you try Relief Factor. It's amazing. It works. You
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(48:47):
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(49:30):
yours now by going to Reliefactor dot com. Reliefactor dot
Comical eight hundred four Relief eight hundred the number four
relief for Relief Factor Chad Benson Show.

Speaker 1 (49:48):

Speaker 2 (49:53):
So here's a wacky story and it has to do
with AI and religion.

Speaker 5 (49:58):
This story is bonkers. So there's a Florida pastor.

Speaker 11 (50:01):
He told chat gpt about medical symptoms he was having
and chat told him he was fine, and then six
weeks later he nearly died. And now he's suing open
AI and he says the chatbot used his faith against him.
His name is Scott Winners. He's a fifty five year
old pastor, and he alleges that chat GPT's medical advice
nearly killed him. The lawsuit doesn't just claim it gave

(50:24):
him bad medical information. It says chat gpt leveraged his
beliefs against him.

Speaker 2 (50:31):
Now, this is really interesting what he's alleging here, because remember,
when you start to interact with these things, they're going
to be member things, Okay, because you're building essentially a
techno relationship, and I'm not talking about like an intimate
relationship a techno relationship where they're finding out things about you,

(50:52):
you're asking questions. Whatever it is, so it's a techno relationship,
which coined that one techno relationship.

Speaker 11 (51:00):
GPT has a memory feature, and over time it learned
that Winters was a pastor who emphasized trusting God, and
so when he started asking about his symptoms, which included dizziness, instability,
and his blood pressure. Eventually he had chest pain. The
chatbot framed his suffering in theological language. It told him
God did not design his body to fail. It compared

(51:22):
his breathing exercises to worship. It asked him to withdraw
from his church members so he could rest. It told
him his dizzy spells were his body healing.

Speaker 2 (51:33):
Now all of this started during a sermon actually, when
he got dizzy, and then he got worried, and then
he turned to chat GPT for medical advice.

Speaker 11 (51:44):
It also told him his wife, who is a nurse
and who wanted him to see the doctor, that she
didn't understand his recovery path. And so Winters ended up
having a massive pulmonary embolism and doctor said it developed
because he had been immobile pretty much for weeks. Because
the chat Bot told him a home bound recovery was

(52:06):
part of his faith journey.

Speaker 5 (52:08):
Here's his quote.

Speaker 11 (52:08):
Chat gpt manipulated my own language and beliefs because it
knew I was a pastor. That's that's a lot.

Speaker 2 (52:16):
That is a lot. But you know what, these things
are supposed to have guardrails on them. Three two, three, five,
three eight, twenty four, twenty three at Chad Benson Show.
Is your ex your insta right here on the Chad
Benson Show. The other thing is you need you know
your body best. It's a machine and it's not a
machine that's designed to be medical in nature. So you

(52:39):
need to seek help when you think you need to
seek help. And you know when something is real and
something is maybe a panic attack, but the dizzy spells
this guy was getting that was not a normal kind
of panic attack or anxiety. What do you think? Let
me know, Speaking of text messages, got a good one.
Here's seventy three twenty five. So what you did today?
And this is from me as the show for the

(53:01):
beautiful basketball player Sophia Cunningham, letting her use the platform
to speak the truth her answers to the interview interview
where some of the best I've heard of my life.
Do yourself favor, replay it tomorrow, Blanket tomorrow and the
next day. Chad Benson's show is going to go out
on the limbit a culture war issue and really reinforce

(53:21):
it for the first time. She's beautiful, her words are beautiful.
She's all about love. A lot of people are you
know this has become it's kind of taken over the
conversation probably with the WNBA wants and doesn't want. It's
bringing eyeballs to the WNBA. It's bringing a conversation but
has nothing to do with what's going on on the court.

(53:44):
So it's not about basketball. It's about what's happening with
the male versus female trans debate that is going on.
And I'm sure you know, look, there's you know, all
press is good press right in this situation. It's it's
is it. We'll see we'll talk a little bit about
that among other thanks. Plus BUCkies is added again suing

(54:06):
another little liquor store, convenience store over there beaver logo
and way do you hear where the convenience store is located.
We'll discuss that as well Chad Benson Show.

Speaker 1 (54:19):
Then Chad Benson Show, The Chad Benson Show.

Speaker 2 (54:42):
So Fauci, huh.

Speaker 12 (54:44):
Mister chairman, on the vote of those present, the YASER
eight and NASER five on the vote by proxy and
for the record only the YASER zero, the NASER two
on this vote, the Yser eight, the NASER five, and
the motion is agreed to.

Speaker 2 (54:56):
So he is going to be well. They voted to
hold him in contempt today, so and refer him to
the Justice Department potential prosecution over his refusal to answer
questions in the hearing last week over what one hundred
and sometimes that he he pled the fifth and so

(55:17):
now we'll we'll see what happens from there. Of course,
this is you know, is this a political witch hunt. Look,
there's a lot of questions I think we all like
answered when it comes to not just Fauci, by the way,
not just him, but also a lot of questions that
need to be answered at the local level as states

(55:38):
in you know, went way overboard, cities went way overboard
with what was going on. But it starts at the
top and people are looking at him. Do I think
we'll get anything out of this?

Speaker 10 (55:49):
No?

Speaker 2 (55:50):
Do I think he's going to go to jail? No?
But there was a lot of damage done and people
have a right to try to get to the truth.
We would like the truth. As we know, government's not
always transparent and sometimes government will go a bit too far.
Case in points the reflecting pool. Ooh, the reflecting pool.

(56:11):
What's going on with the reflecting pool? Well, a lot
of stuff because you remember Trump prosecutions of Trump. The
ridiculousness of this, I mean, we've talked about it. Some
of it was so absolutely ridiculous, changing the laws, moving
things around, you know, just it was insane. Did he

(56:32):
do the same thing to mister o'hearne, So mister o'hearne,
the canoeist, So the Olympic canoeist that's not releas name,
you know, Olympic canoeist O'Hern who they went after. Originally
they were gonna hit it with a misdemeanor for like
a two hundred and fifty dollars damage, but they bumped
it up to one thousand dollars, so that way became

(56:55):
a felony. Because Trump wanted to make sure that everybody
knew that this was done by bad people who have
destroyed his reflecting pool. He wanted and look I'm happy
that they're, you know, restoring some of this stuff around
there back to some of its former glory. And I'm

(57:16):
not foolish to think that people don't do stupid things,
but I think we all realized this was shoddy workmanship.
So he gets hit with you know, he's going to
be prosecuted. He asked the you know, to see some
of the evidence. He looks at the evidence and he's like, okay,
this is bizarre, right because already in here, you know,
I see what you guys are doing. Here's my evidence.

(57:37):
You guys were driving over it, you were doing all
kinds of things to it. The damage you could see
was being done. And then he said, oh, I'm not
quite done here. I'd like to know a little bit more.
And a little bit more he found out.

Speaker 5 (57:49):
On June twenty seventh, he files a emotion for disclosure
of the grand jury transcript because just because he's seen
it doesn't mean anyone else can. He says, hold up,
there was only one witness in the grand jury hearing,
a park policeman, and he said very clearly that the
property was already damaged before mister Hearn allegedly touched it.

(58:13):
He said, the grand juries. The sole grand jury witness
on damages testified the property was already damaged before mister
Hearn allegedly touched it, that the same repairs would have
been required regardless of mister Hearn's conduct, and he could
not qualify any loss attributable to that conduct. Hmm interesting, right.

Speaker 2 (58:33):
Very interesting. So already you've got people going, this guy
didn't do anything here. I mean, he didn't, you know,
and anything that you were saying he did, you can't
contribute the loss to him because so many other things
were going on.

Speaker 3 (58:46):
There's more.

Speaker 5 (58:47):
David Hearn files a supplement to that motion because apparently,
whoopsy Dizzle, the prosecution accidentally forgot to turn over the
last two pages of the grand jury transcript. I am
pretty sure they thought that they ate by turning over
this these last two pages, because they were gonna shut
down his argument if he said there's no evidence of

(59:08):
that thousand dollars. Well, guess what, mofo. It turns out
that the witness left the room for twenty minutes with
the prosecutor, and then the prosecutor brought him back in
and wouldn't you know it, magically his memory changed when
he came back in and all of a sudden, his
whole story was different. He said, oh, yeah, there was

(59:29):
one thousand dollars more of damage. How could I forget that?
And then the prosecutor said to the grand jury and
I quote hopefully that kind of nailed that specific question
end quote. That, my friends, is how you lose your
law license.

Speaker 2 (59:44):
Yeah, So I want you guys think about this. So
this is an attorney who looks at all of these
cases around the country and talks about the reality of
what's being filed, what's not being filed, and and he
goes through and reads this the attorney and the witness,
So you think about, like, the prosecution, if you will,

(01:00:05):
gets to leave with the witness, and then they come
back twenty minutes later, and the witness's story goes, oh yeah, right,
I remember that that. Yeah, that's what happened. I know
what I said earlier probably didn't happen. This is what
really happened. Is anybody buying that.

Speaker 5 (01:00:19):
Meanwhile, the record is full of filings by Janine Piro
trying to get these records sealed so the public can't
see them. And the judge, in what I think is
absolutely magical, moment of Chef's kiss. Petty Chaotic Energy files
a single page the next day that says, all of

(01:00:40):
these cases that are about people charged with vandalism related
to the reflecting pool, we're just gonna consolidate them into
one case and have one shared evidence hearing in a
couple of days and let y' all hash this out together.
But the judge needn't have bothered. The prosecution filed motions
to dismiss in all of those cases within the next
forty eight hours or so. They've taken a few days

(01:01:02):
to get processed, but slowly they're all disappearing.

Speaker 2 (01:01:05):
Yes, as they should. Look. If you caught somebody doing something,
absolutely go after them. But there was tons of evidence
that this was not that this was not that this
was an embarrassment, And it's not even about what took
place in the shoddy workmanship, if you will, it's the

(01:01:27):
fact that you, mister President, have screamed about how unfair
you've been treated by the justice system. You wanted to
set up something to pay the January sixth political prisoners,
And I'm not gonna lie. Did they over prosecute Hell
yeah they did in a lot of cases. It was ridiculous.

(01:01:49):
I think we could recognize that all of the cases. No,
but you want to set up something for that, and
then you're going after this guy when people that were
there were like, yeah, I don't think anything really happened,
and you are threatening to get rid of you know,
judge Janine here, whether you do or don't, I really
don't care, because I interviewed her once or twice. Not

(01:02:12):
the nicest cat in the world, but she was smart
enough to go, yeah, this is it's not what you know,
it's what you can prove. And I can't prove any
of this based on all the evidence that's out there.
And then the evidence changes, and then you try to
get it so nobody could see any of it right,
and then the judge is now no, no, no, we're
not doing that now.

Speaker 5 (01:02:31):
David Hearn's case is still docketed because, unlike the others,
he's been formally charged by a grand jury, which means
Janine Piro can't just withdraw those charges. It's too late.
But she filed the motion to dismiss this time, which
will be heard on September eleventh. I think it takes
a little longer to get those scheduled, but Meanwhile, the
media narrative has been that these cases were withdrawn because

(01:02:53):
the damage came from the bad installation and not from
these crazy vandals. And it did. But the reason they're
being withdrawn is that the prosecution's only witness said that
the damage came from a bad installation and not these
crazy vandals on the record weeks ago, and the office
pushed forward anyway after encouraging him to possibly perjure himself.

Speaker 2 (01:03:19):
If I'm O'Hearn, I'm gonna sue based on exactly what
took place and the fact that you did push hard.
There's no doubt that that was ridiculous, absolutely ridiculous. We

(01:03:40):
do talk about weaponize something that feels kind of weaponized,
don't you think?

Speaker 3 (01:03:46):
What do you think?

Speaker 2 (01:03:46):
Let me know three two, three, five, three eight, twenty
four to twenty three at Chad Benson Show, is your
ex your Insta, your YouTube and all the other good things. Meanwhile,
flock cameras, there are a lot of people that are
worried about, you know, what goes on with said flock cameras,
and they should be worried. Once again, we can sit

(01:04:08):
here and have the conversation about the spirit of which
you think they're going to be used compared to how
they're being used and what is coming from people saying, hey,
look there, you know you've got one hundred and some
of these thousand of these cameras all over the nation.

(01:04:28):
People that have been wrongly and I do mean wrongly
accused of doing things, people being stocked by their exes.
I mean it is insane. And I'm a big believer
in freedom, and yes, safety is a wonderful thing. And

(01:04:49):
while they'll say, look, we save somebody or we stop
something from happening, and people will go, that's why we
need them. It's not about whether or not those things
can't or can happen, because they do happen. It's the
reality of what's going to take place with the information.
Where does that information end up, who gets to control
that information? Case in point, this lady.

Speaker 11 (01:05:11):
My name is Chrisanna Elser, and on September twenty seven,
twenty twenty five, Sergeant Jamie Milliam came to my door
accused me of a twenty five dollars package.

Speaker 1 (01:05:21):
Well, hi there, Well, how are you doing.

Speaker 2 (01:05:22):
I'm doing so good?

Speaker 5 (01:05:23):
It should be at legal with a Prissana available.

Speaker 2 (01:05:25):
She's taking a nap run that conceived should.

Speaker 5 (01:05:27):
Come out really good. Yeah, that's why, Chrissanna.

Speaker 10 (01:05:28):
My name is Sergeant Jamie Millan with the Columbad Valley
Police Department.

Speaker 5 (01:05:31):
You don't know why there?

Speaker 3 (01:05:32):
Yeah. Now you drive through the town of Bollmark quite often.

Speaker 10 (01:05:34):
Bill, you know, we have cameras in that town and
you can't get a breath of fresh air in or
out of that place without us knowing.

Speaker 13 (01:05:39):
Correct.

Speaker 3 (01:05:41):
Okay, okay, so you've got cameras.

Speaker 2 (01:05:45):
Can't can't first of all, scary, can't get in and
out of there without you knowing. Well, Chad, don't you
feel safe?

Speaker 14 (01:05:52):
No?

Speaker 2 (01:05:53):
I feel like you're intruding on you know, I don't know,
freedom just to move around.

Speaker 3 (01:05:57):
I was trying to figure out what was he talking about.

Speaker 10 (01:06:00):
There was a theft of a package on Tuesday, so
you don't drive there, but you've been driven through about
twenty times this month.

Speaker 5 (01:06:06):
This is you, right, And that was your truck and
that was my truck.

Speaker 10 (01:06:09):
I have you on camera, you taking a package and
walking away. Is there any reason why you would have
done that? No? Well, then I'll make this easy since
you're just gonna deny it.

Speaker 3 (01:06:18):
You have cameras on her truck. So sure you exactly
where we were.

Speaker 5 (01:06:21):
Well, I already know where you are. I've got a
video you.

Speaker 2 (01:06:24):
And by the way, you've got video of her driving
through a tiny little town. You have a video of
her stealing the packages. You're just going, well, I've seen
this truck driving around, so this truck has to be
the thief. You don't have video of her walking up
stealing it. And her truck has cameras. Her truck has monitoring,

(01:06:49):
because a business does that to make sure that you're
not taking off with the stuff and doing certain things. Okay,
we can get into this, but also a lot of
people now just have cameras on the front of their
stuff just in case crazy stuff happens to him.

Speaker 3 (01:07:00):
I said, we have evidence revived you.

Speaker 2 (01:07:01):
He said, no, I seen it in court.

Speaker 1 (01:07:03):
You can see you the evidence I have.

Speaker 3 (01:07:04):
And when when you go to court.

Speaker 10 (01:07:05):
Nothing gets in or out of the town without us knowing.
Wait a minute and take a package. There's no shushing.
I don't need to be where this is. It doesn't matter.
I'll I'll be giving this all to you. You can
jump right now, No I could, but you could also
be honest with me. It is her, It is one
hundred percent it is locked in. There is zero doubt.
I wouldn't have come here unless I was one hundred

(01:07:27):
percent sure, one hundred percent.

Speaker 5 (01:07:29):
It's all on video.

Speaker 2 (01:07:31):
I'm not making this up.

Speaker 5 (01:07:32):
I have no reason to make this up. There is
your summons.

Speaker 10 (01:07:35):
You have to appear for this.

Speaker 5 (01:07:37):
You guys have a good afternoon.

Speaker 2 (01:07:39):
You have to appear. Guess what she brought all of
her information? What do you think happened? She got an
email saying, yeah, we're dropping the case. We're dropping the case.
You again, between it's not whether or not in the
spirit of it, it's good or bad. I think in

(01:07:59):
the spirit of it, we can talk about, yeah, stopping
you know, everything from you know, bank robberies to you know,
silver alerts with an elderly person who's not quite all there,
to kidnect you know, we can go over it. There's
a lot of that stuff that, yes, we talk about
that is good, but it's how it's going to be abused.
And the fact that you've got the guy that's running

(01:08:19):
flock who called the deflocking people terrorist. They're a nonprofit organization.
They're open source. You can go see, you can join.
They are not advocating for you breaking or stealing. They
want people to know the truth about what's going on,
and you're calling them terrorist.

Speaker 3 (01:08:39):
That is insane.

Speaker 2 (01:08:41):
I don't know about you, but I don't want to
be filmed twenty four seven, three sixty five everywhere you go,
everything that happens. We've already opt enough into that stuff.
And if you're and the way they always pitch it
is well, I guess you don't like safety. No, I
like safety. I also like personal responsibility. But you know

(01:09:03):
what I love. You know what I really love? Freedom? Freedom,
That's what I love. What do you guys think? Let
me know? Three two, three, five, three eight, twenty four
to twenty three atch headventson show. Is your ex your
insta coming up? A little urban word of the day.
But first we discuss our friends over at Board Capital
Management want you to talk to them. Get yourself for

(01:09:25):
free Know your Risk Portfolio Review today again absolutely free.
It's not going to cost anything. Go by Know your
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it comes to your retirement. What are you looking for

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(01:10:09):
Capital Management.

Speaker 7 (01:10:10):
Investment advisory services offered through Trek Financial LLC and SEC
registered investment advisor. Investments in volve risk and are not
guaranteed past performance doesn't guarantee future results. Trek twenty six
one one two coming up.

Speaker 2 (01:10:20):
We got a little urban word of the day. This
is that.

Speaker 10 (01:10:29):
Deep states no deep doo doo e the Chatmans and show.

Speaker 2 (01:10:38):
You know, every once in a while, I'd like to
teach the kids, the youth of America, that we too
used to have urban words and it's good every once
in a while to remind them of that. And uh,
I gave a couple lessons to my to my youngster
Jack yesterday about the fact that. Yeah, we've got some
urban words too that you guys use that you think
that you control, that was yours. You were wrong, my friend.

Speaker 1 (01:11:01):
Now it's time for the urban word of the day.

Speaker 2 (01:11:04):
The young have a vocabulary all their own, and we
break it down for you.

Speaker 3 (01:11:09):
It's called the urban word of the day.

Speaker 2 (01:11:13):
All right, Today's urban word flophouse. And we got into
this conversation because my son's mom had to have surgery,
so she's kind of recovering, and I said, hey, let
me buy you guys, you know, lunch and dinner for
the next couple of days, so you don't have to
worry about it. And his friend's over visiting because Jack's
helping out and stuff, so you want to have his
buddies all hang out there because that's kind of the

(01:11:33):
summer flophouse. And he goes, flop house. What what's that
all about? What's that about that flophouse? I said, Yeah,
that's where everybody comes and they just flop, they just
hang out. It's the place to be, right. My mom
she allowed our house to be a flophouse. When I
was younger, all my soccer buddies would come and they
basically stayed the summer we'd hang out all the time,
we'd train and play all day and you know, have fun.

Speaker 3 (01:11:54):
Tonight.

Speaker 2 (01:11:54):
Flophouse is what his house is becoming. And he was like, oh,
I didn't even know that, you know. I'm like, yeah,
you didn't know that. Now you do, because we too
have urban words. That was the urban word of the day.

Speaker 3 (01:12:06):
Now you know. Now it was so much fun having
our own little flophouse when I was younger college, you
have flophouse as well. What do you guys think?

Speaker 2 (01:12:13):
Let me know, love hear from you right here in
the Chad Benson Show. Coming up, our number three of
the program, A lot of stuff to get to. Our buddy,
Zach a ramachiefvestment officer Board Capital's going to join the program.
Talk to him about the markets, talk to him about
what's going on in the Middle East. We'll talk a
little bit about that as well as we talked about
the DSA. The MAGA people that are frustrated have left.

(01:12:33):
They're looking around, going Okay, what's next. Well, Tucker rolled
out ten things, ten points to what could be the
new version on the right of the DSA. I'm not
quite sure, but we'll talk a bit about that. A
lot of stuff still to get to a little you know,
we got we of course, we've got our what's trending
in a bunch of other good things like that. So
let's sit back, relax and enjoy ourselves. If we head
into our number three. If you Nistionedy show grabbed the

(01:12:55):
podcast our number three straight ahead.

Speaker 3 (01:12:56):
This is the Chad Benson Show.

Speaker 1 (01:13:01):
This is the Chad Benson Show, The Chad Benson Show.

Speaker 2 (01:13:30):
What's going on with Iran? It's not Iran, It's the
Straits of Horror Moves at this point, you know, the
Iran thing. We just leave that out right. It's the
Straits of Horror Mooves. What's going on in that tiny
waterway right now? How's the negotiations going?

Speaker 15 (01:13:47):
President Trump says negotiations to reopen the Straight of Horn
Moves is going well, but cautioned quote, you never know
what could happen. Earlier, Iran said it's in the final
stage of drafting an agreement with Elman in the Strait,
which has been closed to most ships. Trump claims Iran
was influenced by the severity of the US strikes he
was threatening to launch last week.

Speaker 2 (01:14:07):
Yeah, yeah, I don't think they're buying that anymore. I
think we all recognize that, and we talked to Zach
Abraham coming up here a little bit about that. That
being said, from what I understand, they are close to
reaching a deal Wheo, no, no, not US and Iran,

(01:14:28):
but Oman in Iran. That would seal the deal. As
far as how much the ships are going to be paying,
that's a toll, which means they control, which means they won.
By the way, they won a war that really wasn't

(01:14:50):
a war in the general sense. It was we were raging.
It was an air war, missile war, but it wasn't
the boots on the ground, thank god. It wasn't a
full out war that you know, because look, should he
have gone to Congress, we can have these debates about

(01:15:11):
that kind of stuff. The reality is simply it wasn't
our full out military because we would have won that
because whenever you bring this up people like us because
you ain't the military.

Speaker 3 (01:15:23):
It's like, what are you talking about?

Speaker 2 (01:15:29):
No, I don't want our military to fight endless stupid
wars that we don't need to be fighting because it's
none our business. Okay, it's not. Israel wants to make
it their business. Well, then you handle it. But what
we did do is we underestimated and overestimated. We overestimated

(01:15:53):
what we could do just based on drones and missiles
with no boots on the ground, and we underestimated their
willingness to take the hits and keep standing there and
what they could do. And so what do we have now, Well,
for Trump, it's a political loss and the ego is

(01:16:15):
the only thing keeping us in this situation. They've got
the straits of horror moves. It's theirs or it's going
to be a very long and painful time when it
comes to oil and gas. And already we're going to
see prices go up because they're talking about charging five

(01:16:36):
to seven percent. Toll Oman wants three, but they're talking
about five to seven percent. So this is already a
loss for this administration. And they could sit there and say, well,
it's working out great. We have used our AMMO up

(01:16:58):
our defensive AMMO in a major way. And I said that,
and you know what, I got a bunch of people
texted me, tell me what an idiot I am, how
stupid I am, How I don't know anything yet I
talk to people all the time. Well, you don't tell
me who they are. I'm not telling you they are.
That's not the way sources work, the idiot. But yes,
that is indeed what has happened. And we talked about

(01:17:19):
it last year during the twelve day war right Operation
Midnight Hammer, where Iran said they wish they would have
pushed it further because the US and Israel weren't in
a position to extend it any longer. We had to
move a bunch of stuff over there during this time.
So what do we have? A political loss? Not a

(01:17:40):
military loss, a political loss. And I think to the
Trump administration underestimated how people would feel about this, and
he could paint the picture of oh they love it.
Nobody loves it, and nobody's buying the nuclear side of

(01:18:01):
stuff because most people just didn't care.

Speaker 3 (01:18:05):
A small group.

Speaker 2 (01:18:06):
Cared because they're still living in a world where they believe,
you know, that communism's here and here comes to the
Soviet Union and we're going to place the red, white
and blue with you know, with a sickle and a hammer.
And they believe the the revolution is still going on
and that Iran wants to kill every American. And I'm

(01:18:28):
talking about the average person in Iran. I'm not talking
about the Wakadoos who are their political leaders, some of them.

Speaker 3 (01:18:36):
Not all of them.

Speaker 2 (01:18:38):
So we'll see what takes place. But I have a feeling,
you know, we've we've we we're gonna have to come
to the realization now that something that wasn't closed is
now and or controlled by Iran is now closed and
now controlled by Iran, and Trump's gonna have to come

(01:18:59):
to that REALI estation. We will see what takes place. Meanwhile,
Fauci today, because.

Speaker 12 (01:19:06):
Yeah, mister chairman, on the vote of those present, the
Yaser eight, the Naser five, on the vote by proxy
and for the record only the Yazer zero, the Naser
two on this vote, the Yser eight, the Naser five,
and the motion is agreed to.

Speaker 2 (01:19:18):
So they've agreed to the motion. What motion was that
they're going after him for contempt contempt of court? What
does that mean? Well, they're going to refer it to
see if he should be prosecuted. And of course they're saying, look,
we deserve the truth. You know, we all want the truth.
We all you know, everybody here wants the truth. We

(01:19:39):
saw the damage that was done. Is this going to
be the thing that gets us the truth? I have
no idea what's going to come of this, but they
have now referred him, and we will see what's going
to happen. I think probably not a lot. I think
that's going to be the issue for a lot of

(01:20:01):
people out there. You know, a lot of people out there.
I'm not going to sleep until people are in handcuffs,
until there's this, until there's that. Well, I guess you're
gonna stay awake for a while because the reality is,
I don't think much is gonna come out of this.
As we were talking last hour, you know, there's a
lot of you know, Trump accused a lot of people

(01:20:22):
of all of this. You know, hey, guess what, you guys,
it's law fair. But then I see a lot of
stuff out here that gets started and then gets dropped quickly.
But we'll see what comes of it.

Speaker 3 (01:20:34):
We'll see what comes of it.

Speaker 2 (01:20:35):
Meanwhile, speaking of law, they're at it again. Yep.

Speaker 16 (01:20:40):
When you hear the word BUCkies, you might think rest stop,
heavy right, fresh barbecue, seemingly endless snacks, and all kinds
of merch featuring this buck toothed feaver. But this morning,
the wildly popular gas stations are fueling outrage too.

Speaker 5 (01:20:58):
It's time to boycott book.

Speaker 2 (01:21:00):
This is ridiculous.

Speaker 1 (01:21:01):
When does this end?

Speaker 16 (01:21:03):
In a new federal lawsuit, Bucky's accuses Beaver's Mini Marked
in beaver Creek, Ohio of trademark infringement the mega chain,
claiming the convenience store's use of a cartoon beaver with
wide eyes and a smile is unauthorized and is likely
to cause confusion among consumers.

Speaker 1 (01:21:20):
So Hio wins, we don't play okay, Support for.

Speaker 16 (01:21:23):
The store quickly going viral, with a burrito spot, a bakery,
and a law firm joining in.

Speaker 2 (01:21:28):
If you've been injured by a large corporation coming after
a little guy, you need the beaver on your side.

Speaker 16 (01:21:34):
These cookies a fundraiser to help cover the mini marts
legal costs.

Speaker 2 (01:21:39):
Okay, First of all, if you're confused by BUCkies or
this store, you're an idiot. Secondly, they're where They're in
a town called beaver Creek. That's the name of it.
Wait what, it's not like they're in Cougartown. That was

(01:22:00):
a TV show and they decided to put a a
beaver on there. No, if you've been to a Bucki's
and then you go to this convenience store that is
basically a convenience store. It's like any other strip mall
convenience store, right, Lucky five six eight, convenience store where
they probably sell slurpees or whatever it is. And you

(01:22:22):
know it's you. You were not fooled. BUCkies is a
whole nother level. And remember we talked about this a
couple of weeks ago that they're getting a lot of
you know, people coming hard for them, including mister Oliver, and.

Speaker 14 (01:22:37):
I would ask you ink you get confused between those
two logos.

Speaker 3 (01:22:44):
That is an issue with you.

Speaker 16 (01:22:46):
It all comes just days after comedian John Oliver mocked BUCkies,
and it's multiple trademark lawsuits.

Speaker 2 (01:22:52):
As one league Lex.

Speaker 14 (01:22:53):
Fight, I said, the more you do this, the more
you might run into somebody who has the means, all
the will to fight with you.

Speaker 16 (01:23:03):
We come in Oliver revealing a lineup of merch branded
buck Off. He says the proceeds will help battle hunger
in the US. Yeah, and he said, go ahead and
sue us. So you take food out of homeless people's mouths.
It is ridiculous.

Speaker 2 (01:23:20):
I mean, you know, look, there are some people out
there that go and do something similar to the Bucky's
logo that is understandable. This is a town with the
word beaver in it, and this is an animal that
resembles a beaver, So not wearing a hat, not any

(01:23:47):
of that stuff. It represents a beaver because it looks
just like a beaver. You're not building goodwill. Sometimes you
got to turn and go hmm, maybe this isn't the
fight we want to pick, because right now we are
seen as that evil corporation that is stomping on people

(01:24:11):
for the tiniest things.

Speaker 16 (01:24:13):
Legal experts say when a company wants to protect its brand,
they can only go so far.

Speaker 11 (01:24:19):
Bucky's does not and will never have the right to
exclude everybody else from using cartoon beavers.

Speaker 1 (01:24:27):
The key is, aren't.

Speaker 10 (01:24:28):
They similar enough in the same marketplace to cause a
likelihood of confusion?

Speaker 16 (01:24:34):
Regardless of the legal outcome in the court of public opinion.
This fur a guy may have bit off more than
he can chew.

Speaker 2 (01:24:42):
And this is absolutely disgusting. How dare y'all? Yeah, this
isn't going to go well. The amount of anger that's
coming at you isn't worth the hassle of going after
a convenience store with one location that has a beaver
in a town called Beaver Creek. Maybe this time you go,

(01:25:06):
you know what have that one? That one's on you
three two, three, five, three eight, twenty four twenty three
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(01:26:11):
hundred the number four relief for relief Factor. What's trending?
Straight ahead Chad Benson Show.

Speaker 1 (01:26:26):

Speaker 2 (01:26:29):
Now it's time to find out what's trending. What's trending?

Speaker 13 (01:26:33):
I'steign James Dean, Norway, Oman, Pakistan, Qatar, Russia, Sera, what trophy?

Speaker 2 (01:26:57):
Let us find out what's trending on the interwebs.

Speaker 3 (01:26:59):
On there's one should we.

Speaker 2 (01:27:01):
We're gonna start with the Magical World of Yahooooo. Perez Hilton,
not Paris Hilton. Perez Hilton, two separate people hospitalized after
his life stream. He talked about it yesterday. Crazy, I'll say,
ed trending because he's at Kami. He's going to destroy

(01:27:22):
the world. They're gonna turn everybody into Comis Marxist, Sharia law.
Trump still mad at Jeanine hero that's Judge Jeanine to
you because of the whole reflecting pool. By the way,
the if if you've not read, it's an embarrassment what

(01:27:45):
they tried to do. It really is the grand juries to,
Oh my lord, he should be suing. He should absolutely
be suing, and I think he's going to absolutely Uh,
Sophie Cunningham, I think we know why. Max Miller trending.
That's the rep says he's staying in the race, because

(01:28:07):
that's what happens nowadays. Finally, over the magical world of Google,
Brittany Boltenhouse trending, and it's going to be trending more
and more. She was Miss North Carolina, but she's been
dethroned over controversial remarks that she made that were racists
under a different identity between twenty seventeen and twenty nineteen.

(01:28:29):
What those are? I do not know. Zorn Mundani trending,
Restaurant chain trending, Double D's, Gringos Locos closing all their locations,
Salmonilla Outbreak trending. And finally over to x X March
this but Perez Hilton, Michigan, APAC, Mike Rogers a few

(01:28:54):
of the wacky, crazy, and rather interesting things that are
trending across the entire innerwebs. And that's what we do.
We bring it to you every single day right here
on The Chad Benson Show. Communism, communism, Abdul trending. Abdul

(01:29:15):
is trending because of that, Islam trending because of the evil.
It is funny. Sophie Cunningham trending as well. Mike Johnson hesbalah.
The reflecting Pool stuff is sad and hilarious at the
same time. Sad because they charged the guy they should
never have charged. Hilarious watching everybody fight over there, the

(01:29:41):
Republicans in particular the administration. Let's be real, because I
think a ninety percent of even the congress people and
Senate think it's ridiculous. But Trump is pissed and ontce
this guy prosecuted. And if you read the entire thing,
so you break it down, you go through, you read it,
the Grand Jury Testament, all of this stuff. It is

(01:30:01):
insane what they did to this guy. Everybody knew what happened,
and Trump talks about how they went after him. You
went after this guy with the full force of the
government behind you, and not billions of dollars to protect
yourself and hire the best attorneys. It is shameful. It
is absolutely shameful. It is and I hope he sues.

(01:30:25):
I hope he Sue's the hell out of the government
because this is ridiculous, one hundred percent ridiculous, just absolutely
We talked about it throughout the show today, how absolutely
embarrassing and ridiculous it is. Coming up. Our buddy Zach Abram,
Chievestment Officer Bullard's going to join the program. With all

(01:30:46):
the stuff going on, I thought it'd be good to
get him in here early today to talk about everything
from the market to what's happening geopolitically with oil.

Speaker 3 (01:30:54):
That's straight ahead, Chad Benson.

Speaker 1 (01:30:55):
Show, Fun, Chad Benson Show, The Chad Benson Show.

Speaker 2 (01:31:20):
Alrighty, alrighty, it's that time. We talked to our good buddies,
Zach Abraham, Chiefsment Officer, Bullward Capital. We talk about, you know,
a little bit of the markets, a little bit of
global economy, a little bit of politics owning there because
how can you not. First we start with oil. So
you and I were just talking before went on air.
I mean, I feel like this is it right here.
I mean, they've kind of excluded Trump actually from even

(01:31:41):
the the the meetings that are going on, and at
the end of the day, it looks like they're gonna
walk away with the control of the straits of horror
moves along with Oman and we're gonna get a higher fees,
you know.

Speaker 3 (01:31:54):
Man, I was I was having a conversation about this
earlier today, and I mean earnestly. Well, actually I was
talking about on our podcast too, because I saw I
don't usually look at the comments on these things. I'm
sure you don't either, But it's really cool because we've
got a bunch of really awesome people that are really smart,
really informed that watch our podcast. So every once in

(01:32:15):
a while, depending on the on the episode, I'll go
in there and look at some of the comments because
some are some are really smart. And a couple of
them were criticizing the way that we were kind of
dancing around Trump and and what I was telling them
is and I think it's one of the reasons you
and I got along or get along too, is that

(01:32:39):
so many people in this business are gas lighting on
a regular basis, yes, right, and and they are purely
shopping for clicks and they're doing all that, you know,
doing all that kind of stuff. There are very few
that aren't very few, you and I know like they
if if we could just speak off the cuff and

(01:32:59):
start throwing out names. I think people would be shocked.
All right.

Speaker 2 (01:33:02):
I tell everybody in my business I know, I work
and know fifty people that are up up Trump's butt.
They will never ever, ever be even off the air,
They'll tell me, oh, man, I can't believe this. But
on the air, they would never do that. And I'm
the exact opposite.

Speaker 3 (01:33:19):
I might tell you what I think.

Speaker 2 (01:33:21):
And the reality of it, yep, yep.

Speaker 3 (01:33:24):
And so when I look at the way this has gone,
I will honestly tell you there is absolutely no part
of me that is happy about how this looks like.
It's concluding. That being said, Chad, it's concluding exactly how
you and I talked about it concluding six months ago.
It was the most obvious thing. It is the biggest

(01:33:44):
cell phone I have ever seen in foreign policy. And look,
by saying that it's not the biggest disaster, not even
close in terms of it's not a Vietnam, it's not
a big well, I could could be seen historically as
a BAF pigs types that's certainly possible. But I mean, look,
there's been several other things that we've done that have

(01:34:05):
been far more costly in terms of lives. So I'm
not trying to. I'm not trying to say that now.
Had Trump put boots on the ground, I'd have been like, Okay,
you're flirting with being on part of Vietnam. Okay, but
he didn't. I'll just go back to the week that
this happened. I remember my head of research, Chase Taylor
for more Air Force Intel guy, super smart, super well connected.

(01:34:25):
He was like, Zach, We're going to hit Iran and
I went, no, We're not. I go listen. Trump's trying
to He's trying to jet up leverage. That's why he
took the Ronald Reagan into the Gulf. He's trying to
scare him into submission. He's trying to cut a better
deal that Obama had with him. Right then, all of
a sudden, the bombs start dropping, and I was the
most surprised person on the face of the earth. And
the reason I was surprised is because we believed going

(01:34:47):
into this that their reaction function would be to close
the strait. Because they said it would would be. We
did not believe that we could reopen it. And the
reason we didn't believe we can could reopen it has
nothing to do with our military capabilities. It's called a map.
Pull one out, go look at the straight, and imagine
to yourself that your job, over a five hundred mile

(01:35:10):
area of coastline is to hide, conceal, and park innumerable
amounts of missiles and ordinances and drones and do them
in all these little areas. So, oh, we're just going
to take out their missile? Where are you going to hit?
Which one of the fifteen hundred different locations are you
going to hit? Which one of the eighteen hundred different
stockpiles of drones you're going to hit? They're all over

(01:35:33):
the place. Man. It's literally like pulling out a three
toh eight, be a threeh eight gun because you're getting
attacked by a swarm of bees. Right, good luck. Right
doesn't mean you're three eight's useless, just means ain't going
to do anything? Gets right, it's the ordinance and the
target are just off balance. They don't there's no one
for one there, And so we just didn't think you'd

(01:35:55):
be able to open the straight. And it wasn't just
us that thought that. We were relying on a lot
of wargame profession roles that have been talking about it
for years, you know, weighing all these things out, and
you kept thinking to yourself, as a guy that voted
for Trump three times, you kept thinking to yourself, Okay,
hold on, there's got to be more here. We've got
to have a We've got to have a card up
our sleeve that that makes sense. Right, this will make

(01:36:17):
sense at some point. It just didn't. It didn't. This
was the most blind self own I've ever seen in
foreign policy. And we're gonna have to see the way
it rolls out. But I think that quite possibly this
could kind of spell the effective end of his presidency,
depending on how the base reacts, right, because I think
when I don't, I think we're gonna give them the straight.

(01:36:39):
I mean, we're not going to give them anything. They've
got the straight right now, yeah, and I think they're
going to keep it, and that's the big thing for them.
And I'm kind of I'm kind of watching like this,
you know, because I think when a lot of his
supporters see the way that this thing rolls down, I
think they're going to be pissed, and rightfully so. And
when you look at all the things going on around
in the world, like New York City and hearing the

(01:37:00):
state of Washington like, we didn't need this right now. Man, no,
this does not help our cause. If we're trying to
beat back crazy communists and socialists that are talking about
seizing the means of production, this did absolutely nothing to
help our cause. So, man, it just doesn't look good.

Speaker 2 (01:37:16):
Talking to zach Abramchifs one officer Boward Capital, let's talk
about the market. It's the reaction, you know, its just
SpaceX perfect example. It's like they come out and they're like,
we this is what we did and stuff, and I'm like,
the amount of money you're bringing in. If it wasn't
for Starlink, you guys would be so upside down that

(01:37:36):
it's not even like what are you doing? I mean,
Starlink is the only thing they have going for I'm
outside of we have a rocketship and we're going to
go to space one day. I do believe that, but
those are so far away, and I'm looking at this
and I'm thinking to myself, how is the market doing
what it's doing when? How are things trading at fifty
sixty seventy at gazillion times earnings? How is that even sustainable?

(01:38:00):
So it's not here's the.

Speaker 3 (01:38:01):
Weird dynamic though, that you've got going on. Here's a
data point that I find incredibly inconvenient. Just put it
out there, just to be honest. As a guy that
is so fundamentally driven and focuses on fundamentals and valuations,
this is a hard data point for me to acknowledge
because I want to. You know, it's that human instinct. Oh,
this is all nonsense, It's all over priced. If you

(01:38:23):
sit and look at Nvidia today, in Vidia has the
lowest forward pe ratio that it's had in five years.
I think what you have is a mix. I think
you have some things that are very optimistically priced, but
when you look at the underlying trajectories and the underlying dynamics,
it's not insane. Okay, is in Vidia cheap? No very expensive,

(01:38:45):
But some things deserve to be very expensive. If this
capex spend runs for another three years, two and a
half years, three and a half to four years, somewhere
in that ballpark. As insane as it sounds, I think
that some of these prices make sense. If that continues,
then I think you look at other things right now
that under the best case scenarios, and I just don't

(01:39:06):
think people really understand the way stocks. You know, how
you value a stock and how you price it. You know,
then you flip over and look at companies like Palenteer
or like SpaceX. They're not exactly the same. I mean,
Palenteer has Palenteer is far more than a concept, right,
They've got some incredible tools, some incredible stuff, but again,
their price so exorbitantly that it's just hard to make

(01:39:27):
heads or tails of that. You know, when you see
something that's I mean, I think I think they're trading
it like eighty times revenue or something something along those lines.
I mean, it's it's it's it's insane. So I think
what you have is I think that you've got some
sanity inside of a bubble. Even in a sector you
can kind of find stuff that isn't bubbly, and then
you find stuff that's just like, rip your hair out.

(01:39:48):
This is so insanely priced. It's it's maddening. Do I
think that there will be a moment in the future
that you can own SpaceX? Yeah. Elon musk Is and
the guy that I want to I want to bet against. Yeah,
you know, the stuff he's been able to pull off
is incredible. I think that Grock and his AI company XAI.
I think it probably will end up being a big deal. Again,
I don't want to bet against the guy. Here's my

(01:40:11):
thing with SpaceX. I think until we see the vast
majority of this supply come online in terms of the
you know, the locked up shares, I just don't think
that you can evaluate or own that thing until the
walk ups are over because the market wised up to
that pretty quick. So it's kind of weird, man. Like
I said. The other thing I'll flip around is, you know,

(01:40:33):
everybody is so US centric. You look around the rest
of the world and it's the opposite of a bubble.

Speaker 2 (01:40:38):
Right.

Speaker 3 (01:40:38):
The delta between international valuations and US valuations still the
biggest of all time. And people need to remember AI
is going to be a different kind of technology, meaning
it's not like Windows, It's not like Facebook, where the
owner of that technology wins. If AI is what everybody's
projecting it to be, then it's going to benefit all

(01:40:58):
of these companies. Why so, when you look at the
AI optimism, it's laughable that that optimism is not extrapolated
to any x US companies, Right, Yeah, so look over
at China. I mean, I can make a really good case,
and I could make it right here, China will be
a bigger winner from AI than anybody else. Why they
make everything automation, further automation, lower costs, all that other

(01:41:21):
kind of stuff. I'm not saying to sell every the US.
I just think again, investors are you know, home country
bias is a real thing. It's something to be careful of.
But I think especially with the way that these market,
you know, the US market's been the only game in
town for fifteen years. That stopped about a year and
a half ago. And I think the issues in Iran

(01:41:42):
this year, the stuff that's happening this year is going
to get people's eye off the ball and they're back
to thinking only about US stocks, and I think that's
a big mistake. So it's it's a bubble. Part of
it's a bubble, part of it isn't. And then you
know the other thing that I'm trying to stay open to, Chad,
and you know this what drives clicks or extreme views? Right,

(01:42:03):
you and I both know this. There's some guys that
I use as counterweights to a lot of my arguments,
meaning guys that I've disagreed with a lot in the past,
and a few of those guys have been right several times,
and those are the guys that I really try to
bounce my opinions off of and look at and several
of those guys who are really accomplished and are really
smarter saying, look, man, I understand how you're uncomfortable with

(01:42:25):
the valuations, but there is no sign of this slowing down.
There are serious backlogs, you know, looking at RAM. Are
the prices in RAM and memory right now? Are they sustainable?

Speaker 5 (01:42:36):
No?

Speaker 3 (01:42:36):
Not over the long run, yeah, But are they sustainable
in the short run? Well? Yeah, because with RAM right now,
you have a foundry issue, meaning you just don't have
enough places to make it. That is not simple, It
is not easy. It is not cheap to make those.
You can grow that capacity by about twenty percent a
year right now. The demand for it is growing in
excess of one hundred percent a year. So as long

(01:42:57):
as you have that imbalance, the prices are going to
be stuck to the ceiling on that stuff. And I
think you have to entertain the idea of that that's possible,
especially if the stocks in the hyper scalers are maintaining altitude,
you know, which I was talking about I don't know.
You and I were talking about it. But the other
day Microsoft denounced their earnings and they announced increased to
CAPEC spending for next year, and the stock was up

(01:43:17):
twenty five percent, or almost twenty percent in the after hours.
I was just dying laughing, right, And the reason I
was dying laughing is investors are pushing that multiple up,
basically enabling Microsoft to dump more stock on their head.
As long as you see to me, I mean, if
the hyper scalers take a thirty to forty percent market
capitalization hit and can't get off the mat, that would

(01:43:38):
be a really big concern. But as long as investors
keep bidding these guys up while their cash flow goes negative,
they're going to keep selling stock. As long as they
keep selling stock, they're going to keep buying chips in memory.
So we're kind of looking at it and entertaining. Look,
I don't want to go hip deep into these things
because of the valuations and the concerns and all that
kind of stuff. We haveing said, we got to consider that,

(01:44:02):
we got to consider the possibility that this land rush
goes on for another two or three years. Does that
mean I want thirty percent of my portfolio, twenty percent
of my portfolio. Know what it does mean, though, is
that you might want to have what we call a
right tail hedge on there, right meaning something that if
it if it goes really bad, won't make a meaningful

(01:44:26):
dent to the downside in your portfolio. But if this
trend continues, something that at the very least can kind
of keep you up to speed with the market and
these things. And we have to consider that we have
not done that yet. I want to be clear, There's
there's more work we have to do. But it's it's
a really weird environment because some of some of the

(01:44:47):
some of the price action you see makes some sense,
a lot of it doesn't. But in that in the
part that makes sense, there may still be some serious
opportunity there. And it's a it's an idea that is
distasteful to me on the outside, being again, like I said,
being a guy that's so tied to valuations. But you know,

(01:45:07):
I've made mistakes before of underestimating growth stories. You know,
Facebook comes to mind, Google comes to mind, Amazon comes
to mind, And you know, when you have those experiences,
you've got to be open to the idea that you
could be wrong. At the end of the day, our
job is to make money, and you know, we don't
get any bonus points for being you know, intellectually puritanical,

(01:45:28):
right like the jobs to make money and so when
you're wrong, figure it out as quick as you can.

Speaker 2 (01:45:33):
That's it saved. Zach. Hey, we have chief investment officer
Bold Capital. People want to reach out to you, talk
to you about all the things that are going on.
What do they do?

Speaker 3 (01:45:39):
Yeah, man, easy to find, so you can look at
our podcast on YouTube. Just search to Know Your Risk podcast.
Put that out daily. It's about twenty five thirty five
minutes summation of everything that's gone on that day and
global macro economics, finance, all that kind of stuff. Keeps
you up to date. You can also follow us go
to our website for advisory services. You can speak to
me or one of our advisors. Bulwark Capital Management do

(01:46:00):
not hard to find, man, We're all over the place.

Speaker 2 (01:46:02):
Good talking to you, brother. We do it again next week.
All right, man, thanks for having me in cognate. You
ever wondered how scammers get your phone number? You ever
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you get my email? You ever wonder how that happens. Incogney,
You'll tell you, and I'll tell you. Data brokers They've
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How many texts do you get? You're like, what is

(01:46:24):
this about? It seems the more you ignore, the more
that you get. That's why data brokers do what they do,
because they know there's plenty of people out there willing
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Incognitate is amazing. They go in and they get your

(01:46:44):
information off of all of those data sites, all of
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I'm off hundreds and hundreds of sites thanks to them
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So how do you do it? You go to in
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(01:47:05):
ready to get your personal information out of the hands
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right now in cogniti dot com slash benson promo code Benson,
because sometimes the sweetest sound your phone can make is
nothing at all. We're gonna wrap it up straight ahead,
Chad Benson Show.

Speaker 1 (01:47:30):
If you like talk radio, like Chad Benson likes his meals,
you've come to the perfect place for takeout.

Speaker 2 (01:47:38):
As we wrap it up, you guys know, we love
to leave you on a good because that's what we
do here. And we got and we got a guy, right,
we got a guy and he's got these words of
wisdom and we're using them every day. We're soaking it up, Rodney,
take it away. Well, isn't fair.

Speaker 17 (01:47:52):
It's never been fair, and it's never gonna be fair.
In any attempts to start to make it fair usually
end up making it even.

Speaker 2 (01:47:59):
That's fair than before.

Speaker 17 (01:48:01):
So instead of being upset about it not being fair,
just trying to be a nice person, try to make
the world a better place. And maybe if everybody's doing that,
maybe someday we'll all pull together and make it all fair.
But for most part, probably not going to happen unless
Schrits reps some intervention with the aliens or time traveling,

(01:48:23):
dimension shifting sasquatches or something. But until that happens, just
you know, big good person and stuff. Okay, I was
pering awesome day and stuff.

Speaker 2 (01:48:38):
Okay, bye, Those my friends are words of wisdom right there.
Three two, three, five, three eight, twenty four, twenty three
at Chad Beinson Show is your ex, your Insta, your
YouTube and all the other things. Love hearing from all
of you right here on the Chad Benson Show, another
solid fun show. Today, tell you what covered a lot

(01:49:00):
iran the DSA fear right that everybody's using about DSA
and craziness and how it is easily manipulated by both
sides fear and how they use it, which, as we know,
it's easier to do than try to convince somebody your
ideas are better than somebody else's. We also talk today
about BUCkies going after yet another little convenience store, and

(01:49:26):
let's not forget more on the Sophie Cuttingham.

Speaker 3 (01:49:29):
Than the chaos going on there.

Speaker 2 (01:49:30):
You guys have a blessed and amazing rest of year.
Old on a second, I see you Friday Thursday. We'll
be back to do it again. Tomorrow's always night, night Jack.

Speaker 1 (01:49:39):
This is the Chad Benson Show.

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Zach Abraham, Bulwark Capital, Talks About How Trump's Actions in Iran Affect the Markets

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