October 18, 2025 • 39 mins
Chris Markowski, the Watchdog on Wall Street, discusses the current state of the financial markets, the impact of recent economic events, and the importance of building a resilient investment portfolio. He emphasizes the dangers of speculative investments, particularly in cryptocurrencies, and shares insights on how to navigate market volatility. Markowski advocates for a long-term investment strategy focused on quality companies and warns against the allure of quick wealth schemes.
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Episode Transcript
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Speaker 1 (00:07):
Well, no one authored investment banker, consumer advocate, handalyst, trader.
Chris Markowski is the watchdog the Wall Street. Do you
want to answer exposing the lies and myths that the
big brokerage firms, the mainstream press, and the government are
pushing to keep Americans away from financial freedom.
Speaker 2 (00:28):
You can't handled a true.
Speaker 1 (00:30):
Bringing America the truth about what really happens in the
financial world.
Speaker 3 (00:35):
Ladies and gentlemen. We're not here to indulge in fantasy,
but in political and economic reality.
Speaker 1 (00:39):
This is the watchdog on Wall Streets.
Speaker 2 (00:45):
All right, welcome everybody.
Speaker 3 (00:47):
Ah oh boy, we have a lot, a lot we
gotta go over today the program.
Speaker 2 (00:55):
We're going to be talking.
Speaker 3 (00:57):
Mania's panics, crashes, debate, SMID, crypto blow ups, a lot
of things. A lot of things transpired over the past week,
last weekend, in particular what happened with crypto and a
lot of the meme coins and many many many see
I told you some moments. We'll get into that a
(01:18):
little bit, but again I want to start off today.
I want to talk about the markets as a whole.
A lot of talk this week, and one of the
reasons why there's been a lot of talk this week
about market crashes and selloffs. Is Andrew ross Sorkin. You
see well, he's on CNBC every morning's on squawk Box.
(01:42):
He also commentated books too Big to Fail, talking about
the Great Recession. Just came out with a new book
entitled nineteen twenty nine. It's about the nineteen twenty nine crash.
I gotta be honest with you. I'm going to read it.
I haven't had chance to. It's a five hundred page book,
and I hear it's excellent. It's great, great scholarly work.
(02:05):
But last Sunday on Sixty Minutes was Leslie Stall interviewed
him about the book and talking about crashes and what
might happen and what could happen. And everyone is concerned
about the AI bubble and what it means and all
of these verily these different things out there that are
(02:25):
looking to scare people. And oftentimes people bring up the
concept of black swans and you know, crash coming out
of nowhere. Well, people are talking about crashes and they're
talking about bubbles and they're talking about AI. Well, then
it's not really coming out of nowhere. It's not really
(02:45):
a black swan, is it. The reality is, and we
talked about this, and we have been talking about this
for some time. We talk about the underlying fundamentals in
the economy. Spent a lot of time talking about the
calling now they're marketing it's called the debasement trade, and
how you go about positioning your poorfolio.
Speaker 2 (03:08):
And now you have to have more in gold.
Speaker 3 (03:10):
And how this changes things based upon the dollar and
everything else that's going on. And yeah, you take a
look at many of the numbers, take a look at
the deficit one point eight trillion dollars, Inflation is still
running high, Americans falling behind on their car payments, Jobs numbers, well,
(03:34):
we haven't got the official government numbers, but they're not good.
Individual bankruptcy filings up. Let go right on down the
list of problems that we have. And you know it's
unfortunate right now is that, you know, the leadership in
the country, the Republicans have the presidency, the House, and
(03:55):
the Senate. They're not really talking about it either. Outside
of Marjorie Taylor Green, maybe Thomas Massey and Rand Paul,
no one is really talking about the problems that are
affecting many Americans. And without a doubt, we have an
economy that has bifocated if you will. Some of the
(04:16):
numbers that came out this past week. You take a
look at luxury goods preveyor Louis Vuitton, and their numbers improved.
I mean they were going backwards and now they're starting
to see growth once again. Certain people at the upper
end of the spectrum, they're feeling a little bit more comfortable.
(04:36):
But again, the underlying strength in the economy right now,
without a doubt, has been driven by the tech sector,
by AI and when we talk about the debasement trade,
we talk about the price of gold going up, what
(04:58):
is happening. What is happened is is there is an
enormous amount of capital that is flowing into the United
States from around the globe. It is not going into
the same degree that it used to, whether it be
the dollar or whether it be you know, ten year treasury,
thirty year treasure, none of that stuff. It's going into
(05:22):
our tech sector. We are pretty much the only, want
to say, the game in town, pretty much the only
game on the planet when it comes to this, the
type of things that are being developed, the innovation that's there,
it's where everyone really wants to be. Yeah, I know,
you got to you know, ASML you certain ship makers
(05:43):
over in Europe and whatnot. But again, if you are
a really really wealthy individual, let's say from Dubai, do
you want to be putting your money into the American
tech sector.
Speaker 2 (05:58):
You want to be.
Speaker 3 (05:58):
Putting it into China's which is a bit of a
black hole if you will, and you never know if
you're going to get your money out. And again, the
way that they manipulate their currency, there's a myriad of
different things. And this is great, This is great for
the tech sector in our country. There's no doubt about
that at all. It's not just a tech sector. We
(06:19):
have to also talk about how we need much, much
greater energy development here in the United States. Actually, a
conversation was had this week. Military is looking to build
small nuclear reactors in around various different bases in order
to power them.
Speaker 2 (06:37):
But also pushback as well.
Speaker 3 (06:38):
You got certain communities around the country say hey, listen,
we don't want that data center here because we don't
want to see our electricity price is going up.
Speaker 2 (06:45):
That's a problem.
Speaker 3 (06:47):
That's a problem, but again that's also an opportunity as
well as far as investment is concerned. And not to
mention all the other things that go into data centers
and all of this AI stuff. Again, have I fully
gotten my arms around how all of this is going
to be paid for down the road? No? No, But
(07:09):
I can tell you this much. I can tell you
this much. It's going to get a lot more expensive
for users. There's no doubt about that. The day is
where you're paying close to nothing to use AI to
have them generate you some you know, bowl excrement for
lack of a better phrase. Picture, it's going to get
more expensive because there's energy costs that are involved with this.
(07:32):
And you know, the best way that I've been able
to explain it to people is you take a look
at Uber and for years and years and years, Uber
lost tons of money, tons of money in essence subsidizing
your ride from point A to point B. Eventually the
(07:53):
price of ubers went up, and eventually that's what's going
to happen when you want to go about utilizing AI,
and it's gonna go up for businesses out there. People
are pretty much free riding on this at this point
in time. And again, these companies know this. They're gonna
get people to adapt this technology, use the technology, and
then they're gonna raise their prices down the road. That's
(08:15):
what's going to happen. Take that and put that aside. Okay,
market crashes, Okay, market crashes, debasement, trade, myriad of different things.
People getting scared in regards to valuations. I've dealt with.
I've dealt with quite a few crashes in my career.
(08:40):
And we spent some time over the past two weeks
talking about the importance the importance of building what we
like to call not my phrase, Talib's phrase and anti
fragile portfolio meaning yeah, knowing knowing that you are going
to get hit with the crash, Okay, knowing that it's
(09:01):
going to happen. Markets are gonna sell off, something is
gonna happen, and it's gonna hurt.
Speaker 2 (09:10):
While you're going through it, you're.
Speaker 3 (09:13):
Gonna figure me like wow, you can't help yourself being like, man,
my portfolio was worth X last month.
Speaker 2 (09:22):
Man, it's now worth why and it's down.
Speaker 3 (09:27):
But when it's down, those companies that you own they're fine.
They're not going anywhere, they're not gonna disappear. They're solid companies,
and you're able to take advantage, able to take advantage
when things are down and continue to build. We talk
(09:47):
about that when it comes to dollar cost averaging. We
at Markowski Investments, Okay, we're not playing the technical nonsense
riding waves fast money garbage because again fast money is garbage.
And they got a television show on CNBC called Fast Money,
(10:10):
Please please. Okay, they put all these traders up there,
and all these people up there, and you even taking
a look at their performance, but all the trades that
they're conducting, and all the gibberius that they're yelling back
and forth at one another, you ever take a look
at the size of their poorfolios minuscule, minuscule, and are
(10:31):
quite frankly, they wasting time, wasting time trying to guess
what's going to happen tomorrow, next week or next month.
We at Markowski Investments we build ownership and great businesses
with great ideas, Businesses that have certain economic and very
(10:56):
specific niche advantages, Companies that have great management. We buy
companies based upon our expectations of performance over time. When
we buy a company, we're putting companies in people's portfolio.
Speaker 2 (11:15):
The hope is that we can own them forever. We
can own them forever, not always the case. It's not.
And we've also talked about here.
Speaker 3 (11:27):
You know, as companies go up, you want to trim
positions and take some money off the table and reallocate assets.
Speaker 2 (11:34):
But one thing we do not do. We do not
do because.
Speaker 3 (11:38):
It's a complete exercise and futility, is try to time
the market. If any business we buy, if we feel
that it is valued properly, we're gonna buy no matter
what the market is doing. If the market is in
an absolute kizzy going down and they're oh, you gotta
(11:58):
get out of the way here, Yeah, I'm still a
great company, right, what difference does it make? It can
turn around tomorrow. We're not stock pickers, that's not what
we do. We're not market timers. We are great business owners. Okay,
(12:20):
we want to own fantastic businesses. That's what we do.
So you know, market crash happens.
Speaker 2 (12:29):
Crash bang boomboo.
Speaker 3 (12:34):
If you're holding on, if you're holding on to great companies,
what do you have to worry about? What do you
have to worry about when markets.
Speaker 2 (12:45):
Inevitably because it's gonna happen.
Speaker 3 (12:49):
Inevitably reverse sometimes for a while.
Speaker 2 (12:54):
Okay, the world.
Speaker 3 (12:57):
Doesn't end, Okay, Never bet on the end of the world.
It's gonna only happen one time. Okay, you own high
quality companies, they are going to come back. Okay, you're
looking people, you're looking five, ten, twenty, thirty years down
(13:20):
the road. You don't want to obsess over finding a
perfect time to own a company.
Speaker 2 (13:29):
It makes no sense whatsoever. I have no clue. I don't.
I don't.
Speaker 3 (13:38):
Again, I'm in my mind, do I you know again
like anybody else, Well, this happened on Friday. This is
where you know, market might go up on Monday morning
at nine thirty. Do I watch? No, I don't even
pay attention. I don't because again it makes no sense.
(13:58):
Not good at timing the mark it's okay, very good
at figuring out when we're getting enough for our money. Again,
I talk about this, and you know it's funny. It
was actually Jamie Diamond came out and talked about all
the possibility, possibility of a thirty percent market correction, and
(14:23):
it's always out there. Of course, it's always out there.
Of course that's always a possibility. But Jamie Diamond also
runs a company called JP Morgan. And one of my
favorite lines, favorite quotes from one of the Masters of
the universe Wall Street Master's owners.
Speaker 2 (14:39):
And again it holds true to this day.
Speaker 3 (14:43):
In bear markets, stocks returned to their rightful owners. Let'll
say it again, in bear markets, stocks returned to their
rightful owners. Now, JP Morgan was saying something that, quite frank,
pretty pretty arrogant, pretty egotistical, but he's right. Basically, he
(15:07):
was just saying, guess what people are gonna do dumb
things with their money when there's markets selloffs.
Speaker 2 (15:13):
They're gonna freak out, They're gonna freak out.
Speaker 3 (15:15):
They're gonna sell their great companies to me, and I'm
gonna pick them up at a discount.
Speaker 2 (15:24):
That's all he was saying. Guess what.
Speaker 3 (15:27):
You might call it arrogant, whatever it may be, he's right.
Speaker 2 (15:32):
Again and again and again.
Speaker 3 (15:35):
Every single time, every single time.
Speaker 2 (15:40):
There's a market sell off, there's a crash, whatever, it's
the same thing happens.
Speaker 3 (15:49):
This is why, this is why you've got to get
yourself set up, set up with a properly allocated portfolio.
Sit back, know that you own quality and you're gonna
be fine. You're gonna be fine. I mentioned it last
week on the program. You know, maybe I might look
(16:11):
at my personal portfolio. Maybe once a year.
Speaker 2 (16:16):
I don't have to. I don't have to.
Speaker 3 (16:20):
I know, I know exactly what I'm doing. I'm dollar
cost averaging, I'm putting money. I know where everything is going.
I don't have to worry about don't care what the
market is doing. Okay, I don't start high five and
when the markets are at highs either like now, nor
do I freak out when there's a market sell off
because I'm not concerned about any of those things.
Speaker 2 (16:41):
And if you are, you're making a mistake.
Speaker 3 (16:46):
I invite each and every one of you to become
a part of our family.
Speaker 2 (16:51):
What we do at Markowski Investments.
Speaker 3 (16:54):
We've been teaching here on the Watchdog on Wall Street
sho for twenty five years. Sign up for our person
CFO program. Get to our website at Watchdog on Wallstreet
dot com. That's Watchdog on Wallstreet dot com, Personal CFO program,
our podcast, our newsletter. Do your homework on us and
(17:15):
see what we've been doing for our clients for over
thirty years Watchdog on Wallstreet dot com. Or give us
a call eight hundred four seven one fifty nine eighty four.
Speaker 1 (17:43):
This is the Watchdog on Wall Street. All right, are
you ready?
Speaker 3 (17:53):
Yeah, you're gonna everybody's gonna get a bit of a
wake up call and a lecture for me now now,
and I know for some of the people out there
again that are doing the right thing, but listening to
this program for some time.
Speaker 2 (18:05):
You know this already.
Speaker 3 (18:09):
Let me tell you something was covered up, covered up
this past week and last weekend. The amount of people
that committed suicide after the crypto crash from last weekend,
The amount of people that killed themselves and it took
their lives because they thought they were worth millions of
(18:31):
dollars and they woke up and it was gone. It
was all gone. I'm going to share with everybody quickly
here I the way we do things here at Markowski Investments.
It's based upon the wisdom of the ages. We don't
(18:57):
have a magic algorithm them. We don't claim to be
of higher intelligence than anybody else.
Speaker 2 (19:06):
We just follow the laws of the universe.
Speaker 3 (19:11):
And what has worked always and again.
Speaker 2 (19:16):
That's true conservative principles.
Speaker 3 (19:20):
I'm going to read you something from Ecclesiastes in the Bible.
What has been will be again, and what has been
done will be done again. There is nothing new under
the sun. I'm going to read you something from Proverbs.
Dishonest money dwindles away, but whoever gathers money little by
(19:44):
little makes it grow.
Speaker 2 (19:47):
Proverbs.
Speaker 3 (19:48):
The plans of the diligent lead to profit as surely
as haste leads to poverty. Why am I reading these things?
Thing that happened last weekend? Everything then happened last weekend,
the wipeout that we saw, the losses that were had,
(20:09):
and again that the tragedy that went along with that.
We told you was gonna happen. We told you exactly
what was going to happen. More on this when we
get back. You're listening to the Watchdog on Wall Street again.
Watchdog on Wallstreet dot com. Watchdog on Wallstreet dot com
is our site. You want to start doing things the
right way? Sign up for our personal CFO program Watchdog
(20:33):
on Wallstreet dot com.
Speaker 2 (20:34):
We'll be back.
Speaker 1 (20:39):
You're listening to the Watchdog on Wall Street, the only
(21:01):
man who is taking on the Wall Street establishments. You're
listening to the Watchdog and Wall Street with Chris Markowski.
Speaker 3 (21:11):
It wasn't a matter of if, it was a matter
of when. It's just that simple. I am over the
years of my career prior to having this radio show
new listeners out in the program. Prior to having this
radio show, the show started in two thousand, but in
there for twenty five years. Prior to that, I was
(21:33):
a guest on many radio programs, television programs, and I
was mocked, mocked and ridiculed for my position at the
time in that these dot coms, many of them are
going to go by the wayside there many of them
have and there's no business to them at all.
Speaker 2 (21:55):
They're going to fall apart.
Speaker 3 (21:57):
Mocked for calling out and didn't you know, solve the
problems there world come all of these things that we
called at Markowski, I had no watchdog on Wall Street
show at that time. Okay, we were mocked and made
fun of. People couldn't believe it. I was obviously much
much younger at the time. How can a young guy
(22:20):
on Wall Street be thinking this way? Because guess what
the conventional wisdom of the day, it's a new paradigm.
Earnings don't matter anymore. All all of the bs that
they're throwing at you. And we were right. Okay, people
got hurt. We were right. To make me feel good
(22:43):
for being right, you know, maybe a little bit at
the time.
Speaker 2 (22:47):
But when I'm right.
Speaker 3 (22:51):
When I'm right, the things that we call people oftentimes
are losing a hell of a lot of money. We
didn't Warren for some time here on the program warning
sometime about this whole meme coin crypto nonsense, because that's
exactly what it is. You're taking a look at all
(23:12):
of these ridiculous coins, and you know what people lost.
Speaker 2 (23:21):
Again, I'm gonna try to make you feel a little
bit better.
Speaker 3 (23:23):
If you got whacked around with this, you didn't have anything, okay,
you didn't have a darn thing. What has been created, okay,
is basically a way to make gambling look legitimate. Basically,
(23:45):
they have legitimized degenerate gambling.
Speaker 2 (23:52):
You know that.
Speaker 3 (23:52):
The messages that I've got, I've been spending years on
this stuff, and people with you know, computer screens in
front of them with their charts.
Speaker 2 (24:03):
Trading air literally nothing. Okay.
Speaker 3 (24:08):
At least with the dot COM's, they had a corporate
ID number, they had an idea, maybe a bad business.
Speaker 2 (24:13):
Plan, but at least there was something there. Here's nothing nothing.
Speaker 3 (24:20):
Somebody comes up with some ridiculous made up me for
crying out out.
Speaker 2 (24:25):
People were trading something called fart coin. Think about that.
For a second.
Speaker 3 (24:33):
It's just clever and people were doing this for a living.
There's nothing financial about this. Now again here comes a
you know, I'm gonna be honest with everybody here, and
you gotta have this moment. You gotta look yourself in
the mirror. You know as well as I know deep
(24:55):
down inside. Okay, what you do for a you're sitting
in front of your screens trading these ridiculous coins.
Speaker 2 (25:04):
You know, what you're doing for a living is.
Speaker 3 (25:07):
Complete utter bs, and you know it, complete and utter bs.
I see these again, getting messages from listeners, getting stuff
from all over the place, showing me what their portfolios were.
They're not it's not a portfolio. You didn't have anything.
Speaker 2 (25:32):
Yeah, but it was worth four million. No it wasn't.
Speaker 3 (25:35):
Okay, you levered up. Okay, you took on leverage to
buy fake money, fake money that was illiquid. You have
to find another buyer for this. This is why these
numbers that they're thing. Oh, it's just twenty billion dollars
(25:57):
wiped out, fifty billion dollars wiped out.
Speaker 2 (25:59):
No, it wasn't.
Speaker 3 (26:00):
There was no dollars involved. Where was the dollars? There
was no dollars involved. It was made up money. The
cash that's in your Monopoly board game is literally more
legitimate than what you're doing. It was absolute, utter nonsense
(26:23):
and that I almost.
Speaker 2 (26:24):
Punched a hole in the wall on Sunday. I did.
Speaker 3 (26:29):
I was so because I again it pains me, it
really does. I hate seeing people get destroyed. And again
again I'm seeing people committing suicide. I mean, awful stuff happening.
And one of the uh what was a coinbase came out, Oh,
we're gonna now offer fifty times leverage. Fifty times leverage.
Speaker 2 (26:55):
What was it was it? Uh?
Speaker 3 (26:58):
Charlie Munger, the late great Charlie Munger, who I love
the quote here in program, another guy that actually uses
wisdom when it comes to used wisdom when it came
to investing. He said, smart people go broke, ladies, liquor
and leverage. You didn't have anything. What I'm here to
(27:21):
tell you right now, believe it or not, and we're
gonna go to break and we'll get back into this.
This might be the best thing that ever happened to you. Yeah,
I'm gonna say that right now. Yes, what are you saying? Oh,
you wipe up, you didn't have This might be the
best thing that ever happened to you. You got wiped
(27:43):
out on your crypto positions. Get back.
Speaker 2 (27:47):
Let me tell you why. Watchdog on Wallstreet dot com.
Speaker 3 (27:50):
Watchdog on Wallstreet dot com is our site again. Become
part of the Watchdog on Wall Street family, our personal.
Speaker 2 (27:57):
C F all program, pod cast.
Speaker 3 (28:00):
Newsletter, all sorts of great stuff. Watchdog on Wall Street
dot commorce give us a call. Hey, hundred four seven
one four.
Speaker 1 (28:22):
You should believe in math not magic. You're listening to
the Watchdog in Wall Street with Chris Markowski.
Speaker 3 (28:32):
Do you want to live a life built on something solid,
something real?
Speaker 2 (28:38):
We we can week out here in the program.
Speaker 3 (28:41):
One of the things we try to get across is
to build, create, protect, and teach you in front of
your many computer screens trading your alt coins, meme coins,
whatever the hell you want to call them, are you
doing anything at all with your life? I know this
(29:02):
might be a smack up side the head, and I
know many people maybe shut the radio program off right now. Again,
I have to be brutally honest here at this point,
what are you doing with your life?
Speaker 2 (29:12):
Honestly?
Speaker 3 (29:15):
I know, listen, it hurts right now because you thought
you were worth something you bought into something that just
it's one of the oldest lies on the planet. Getting
rich quick, getting rich quick.
Speaker 2 (29:32):
Right, oh yeah, we get rich quick.
Speaker 3 (29:34):
Gee, you know for you know, it's kind of funny there,
It's kind of funny.
Speaker 2 (29:40):
Gee. Bible's been around for a long time.
Speaker 3 (29:44):
Dishonest money dwindles away, but whoever gathers money little by.
Speaker 2 (29:48):
Little makes it grow.
Speaker 3 (29:50):
Oh yeah, but no, a guy on social media's got
a ferrari in Miami. And you got these old coin
gurus out there, oh yeah, and mocking everybody out there
that doesn't buy into their ridiculous made up coin. Have
fun staying poor, you piker all on aim call the
stuff online. And then they got wiped out now and
(30:13):
then they're going on tirades blaming the exchanges and blaming
this and blaming that. You don't have anything. There's nothing
of value of what you do. Do you understand that
you've built your life on nothing. This is why I'm
telling you, this is a great opportunity. This might be
the best thing that ever happened to you to turn
(30:34):
your life around and actually do something of actual meaning
out there.
Speaker 2 (30:41):
This is worse than the dot COM's because It.
Speaker 3 (30:45):
Was actually seen as some sort of badge of honor
out there that you would go all in on one coin. Yeah,
coin maximalism. Go into debt. Oh yay, go into debt.
That's a fiat currency out there, No big deal. Hold
on long enough, it's gonna come back.
Speaker 2 (31:03):
Are you nuts? People? It's okay, it's okay.
Speaker 3 (31:11):
You start over, you learn from your mistakes, and you
move on. Watchdog on Wallstreet dot Com. Watchdog on Wallstreet
dot Com again. Become a part of our family. Okay,
our family. Everything in life that has meaning, value and
worth involves work, time and effort.
Speaker 2 (31:30):
Period the end. Watchdog on Wallstreet dot Com. We'll be back.
Speaker 1 (31:41):
Chris Markowski is the watch Dog of Wall Street, bringing
(32:02):
America financial freedom. One listener at a time. You're listening
to The Watchdog on Wall Street with Chris Markowski.
Speaker 2 (32:13):
Welcome back, go back. Yeah. You know it's funny.
Speaker 3 (32:19):
I was talking to some people this past week and
I'm saying, Wow, you know it's gonna go on sale.
You're gonna be able to buy a lot of fancy,
super expensive cars down in and around Miami because all
these crypto bros I got wiped out, got wiped out.
And their fancy cars are going to go away again,
(32:43):
building one's life on sand. It's not real. I really people,
I don't want and I don't mean to be harsh.
I really don't. I really don't like yelling here on
the program. I want to offer you hope. I mean,
(33:03):
many people felt like you've lost You didn't have anything
there in the first place. You didn't there was nothing there.
What did you start out with? Well, I started out
with you, and I built it up to this. You
didn't build it up to anything because it wasn't there. Okay,
you lost a lot of time, you did, You lost
(33:26):
a lot. You wasted time. You wasted time. And guess
what you learned from that? Okay, hopefully you're gonna learn
from that. One of the things that again I encountered,
I encount we were building Markowski investments. We were building
Markowski Investments up. We started out by helping out victims,
(33:51):
victims of the Wolf on Wall Street. That's what we did.
We contacted the clients. We went after the all the
boiler room operators, the Jordan Belfords of the world. We
went out and we talked to them, brought them in.
We'll tried to bring them in and explain to them
that what they owned in their portfolios was garbage.
Speaker 2 (34:14):
Okay, they lost.
Speaker 3 (34:17):
There wasn't going to be any sort of quick way
to make the money back, because that's one of the
things that people actually believe God to make my money back.
We talked about that last week here on the program.
We were talking about Richard Thaylor reissuing his book and
Behavioral Science and Economics and how People Behave and thinking that,
oh my god, I'm gonna double down on this bad idea.
(34:39):
No no, no, no, no, Okay, there's nothing there. There's
nothing there. Start over. Sometimes starting over is just what
you need. There's nothing wrong with that. And back then
early nineteen nineties, certain people listened, many didn't. Many didn't
(35:06):
because again, in their mind, in their mind, oh my
portfolio was worth x amount of dollars X amount of dollars.
Speaker 2 (35:16):
Here here's another bit of a lesson.
Speaker 3 (35:18):
And I know I've talked about this before here on
the program, and it's unfortunately people don't really understand assets, dollars, money.
There's a disconnect. And one of the ways, one of
the ways the powers that be use this is they
talk about who's the wealthiest person who's the richest guy
in the world. Is it Elon Musk? Is it Jeff Bezos?
(35:40):
Who's the richest guy in the world. Well, Elon Musk
is worth a half a trillion dollars.
Speaker 2 (35:46):
Okay, Elon Musk.
Speaker 3 (35:50):
Elon Musk has built up wonderful businesses, built up wonderful businesses.
That again, if you take a look at the value
of the stock that he owns, the value of his companies,
it's worth x amount of dollars based upon where the
stock is trading today. Now there's something that's called a bid.
(36:17):
There's a bid and then there's an ask, meaning that
he can sell x amount of shares x x amount
of shares for a certain price. What do you think
would happen if Elon Musk woke up tomorrow and said,
you know, sell it all, sell my entire position in Tesla,
(36:37):
get rid of the whole thing.
Speaker 2 (36:41):
Do you think he'd walk away with a half a
trillion dollars.
Speaker 3 (36:47):
The stock the stock would take, the stock would take
selling begets selling.
Speaker 2 (36:55):
People would freak out.
Speaker 3 (36:58):
He would have to find a singer, you learn, buyer
that had a half a trillion dollars to purchase that
in order for him to get his half a trillion dollars.
It's worth what somebody else is willing to pay for it.
Speaker 2 (37:11):
Now. Elon Musk owns great businesses.
Speaker 3 (37:16):
You own fake money. You own fake money. Not to mention,
you own fake money that you levered up. Do you
understand here, people? You have to understand you tried to
get rich quickly in your little account statement on your
computer it said it was worth x amount of millions
(37:38):
of dollars whatever.
Speaker 2 (37:39):
It may be. You know it wasn't. You'd have to
find a buyer for that.
Speaker 3 (37:46):
And all of these ill liquid coins levered up. Do
you understand how quickly that collapsed? Did you watch that?
Speaker 2 (37:54):
Is that?
Speaker 3 (37:54):
Does that sound real to you at all? You're gonna
go back in to listen to these people on YouTube?
Speaker 2 (38:02):
Ah? Yes, stay, poor folks, look at my ferrari You
canna you can actually go believe that nonsense?
Speaker 3 (38:11):
Se What I do here is I own high quality
businesses that employ people, that come up with products, that
pay dividends, that do a myriad of things. And guess
what market sells off? They come down in price. But
guess what those businesses are still operating. They're still selling stuff.
Your fake money went to zero. I'm pleading with everybody
(38:36):
out there, please stop looking for shortcuts in life. I
didn't build Markowski and Markowski investments in what we built,
the top iris and the entire You think this happened overnight.
You know what's work went into this. You know the
(38:56):
backstory is quick Moneys bs Man. The sooner you get
your arms around that, the better off you are going
to be. Watchdog on Wall Street dot com, Watchdog on
Wall Street dot com our site again become a part
of the Watchdog on Wall Street family, personal CFO program, podcast, newsletter,
(39:22):
Watchdog on Wallstreet dot com.
Speaker 1 (39:24):
Pull me back, Hey, so is t You're listening to
the Watchdog on Wall Street
Well, no one authored investment banker, consumer advocate, handalyst, trader.
Chris Markowski is the watchdog the Wall Street. Do you
want to answer exposing the lies and myths that the
big brokerage firms, the mainstream press, and the government are
pushing to keep Americans away from financial freedom.
Speaker 2 (00:28):
You can't handled a true.
Speaker 1 (00:30):
Bringing America the truth about what really happens in the
financial world.
Speaker 3 (00:35):
Ladies and gentlemen. We're not here to indulge in fantasy,
but in political and economic reality.
Speaker 1 (00:39):
This is the watchdog on Wall Streets.
Speaker 2 (00:45):
All right, welcome everybody.
Speaker 3 (00:47):
Ah oh boy, we have a lot, a lot we
gotta go over today the program.
Speaker 2 (00:55):
We're going to be talking.
Speaker 3 (00:57):
Mania's panics, crashes, debate, SMID, crypto blow ups, a lot
of things. A lot of things transpired over the past week,
last weekend, in particular what happened with crypto and a
lot of the meme coins and many many many see
I told you some moments. We'll get into that a
(01:18):
little bit, but again I want to start off today.
I want to talk about the markets as a whole.
A lot of talk this week, and one of the
reasons why there's been a lot of talk this week
about market crashes and selloffs. Is Andrew ross Sorkin. You
see well, he's on CNBC every morning's on squawk Box.
(01:42):
He also commentated books too Big to Fail, talking about
the Great Recession. Just came out with a new book
entitled nineteen twenty nine. It's about the nineteen twenty nine crash.
I gotta be honest with you. I'm going to read it.
I haven't had chance to. It's a five hundred page book,
and I hear it's excellent. It's great, great scholarly work.
(02:05):
But last Sunday on Sixty Minutes was Leslie Stall interviewed
him about the book and talking about crashes and what
might happen and what could happen. And everyone is concerned
about the AI bubble and what it means and all
of these verily these different things out there that are
(02:25):
looking to scare people. And oftentimes people bring up the
concept of black swans and you know, crash coming out
of nowhere. Well, people are talking about crashes and they're
talking about bubbles and they're talking about AI. Well, then
it's not really coming out of nowhere. It's not really
(02:45):
a black swan, is it. The reality is, and we
talked about this, and we have been talking about this
for some time. We talk about the underlying fundamentals in
the economy. Spent a lot of time talking about the
calling now they're marketing it's called the debasement trade, and
how you go about positioning your poorfolio.
Speaker 2 (03:08):
And now you have to have more in gold.
Speaker 3 (03:10):
And how this changes things based upon the dollar and
everything else that's going on. And yeah, you take a
look at many of the numbers, take a look at
the deficit one point eight trillion dollars, Inflation is still
running high, Americans falling behind on their car payments, Jobs numbers, well,
(03:34):
we haven't got the official government numbers, but they're not good.
Individual bankruptcy filings up. Let go right on down the
list of problems that we have. And you know it's
unfortunate right now is that, you know, the leadership in
the country, the Republicans have the presidency, the House, and
(03:55):
the Senate. They're not really talking about it either. Outside
of Marjorie Taylor Green, maybe Thomas Massey and Rand Paul,
no one is really talking about the problems that are
affecting many Americans. And without a doubt, we have an
economy that has bifocated if you will. Some of the
(04:16):
numbers that came out this past week. You take a
look at luxury goods preveyor Louis Vuitton, and their numbers improved.
I mean they were going backwards and now they're starting
to see growth once again. Certain people at the upper
end of the spectrum, they're feeling a little bit more comfortable.
(04:36):
But again, the underlying strength in the economy right now,
without a doubt, has been driven by the tech sector,
by AI and when we talk about the debasement trade,
we talk about the price of gold going up, what
(04:58):
is happening. What is happened is is there is an
enormous amount of capital that is flowing into the United
States from around the globe. It is not going into
the same degree that it used to, whether it be
the dollar or whether it be you know, ten year treasury,
thirty year treasure, none of that stuff. It's going into
(05:22):
our tech sector. We are pretty much the only, want
to say, the game in town, pretty much the only
game on the planet when it comes to this, the
type of things that are being developed, the innovation that's there,
it's where everyone really wants to be. Yeah, I know,
you got to you know, ASML you certain ship makers
(05:43):
over in Europe and whatnot. But again, if you are
a really really wealthy individual, let's say from Dubai, do
you want to be putting your money into the American
tech sector.
Speaker 2 (05:58):
You want to be.
Speaker 3 (05:58):
Putting it into China's which is a bit of a
black hole if you will, and you never know if
you're going to get your money out. And again, the
way that they manipulate their currency, there's a myriad of
different things. And this is great, This is great for
the tech sector in our country. There's no doubt about
that at all. It's not just a tech sector. We
(06:19):
have to also talk about how we need much, much
greater energy development here in the United States. Actually, a
conversation was had this week. Military is looking to build
small nuclear reactors in around various different bases in order
to power them.
Speaker 2 (06:37):
But also pushback as well.
Speaker 3 (06:38):
You got certain communities around the country say hey, listen,
we don't want that data center here because we don't
want to see our electricity price is going up.
Speaker 2 (06:45):
That's a problem.
Speaker 3 (06:47):
That's a problem, but again that's also an opportunity as
well as far as investment is concerned. And not to
mention all the other things that go into data centers
and all of this AI stuff. Again, have I fully
gotten my arms around how all of this is going
to be paid for down the road? No? No, But
(07:09):
I can tell you this much. I can tell you
this much. It's going to get a lot more expensive
for users. There's no doubt about that. The day is
where you're paying close to nothing to use AI to
have them generate you some you know, bowl excrement for
lack of a better phrase. Picture, it's going to get
more expensive because there's energy costs that are involved with this.
(07:32):
And you know, the best way that I've been able
to explain it to people is you take a look
at Uber and for years and years and years, Uber
lost tons of money, tons of money in essence subsidizing
your ride from point A to point B. Eventually the
(07:53):
price of ubers went up, and eventually that's what's going
to happen when you want to go about utilizing AI,
and it's gonna go up for businesses out there. People
are pretty much free riding on this at this point
in time. And again, these companies know this. They're gonna
get people to adapt this technology, use the technology, and
then they're gonna raise their prices down the road. That's
(08:15):
what's going to happen. Take that and put that aside. Okay,
market crashes, Okay, market crashes, debasement, trade, myriad of different things.
People getting scared in regards to valuations. I've dealt with.
I've dealt with quite a few crashes in my career.
(08:40):
And we spent some time over the past two weeks
talking about the importance the importance of building what we
like to call not my phrase, Talib's phrase and anti
fragile portfolio meaning yeah, knowing knowing that you are going
to get hit with the crash, Okay, knowing that it's
(09:01):
going to happen. Markets are gonna sell off, something is
gonna happen, and it's gonna hurt.
Speaker 2 (09:10):
While you're going through it, you're.
Speaker 3 (09:13):
Gonna figure me like wow, you can't help yourself being like, man,
my portfolio was worth X last month.
Speaker 2 (09:22):
Man, it's now worth why and it's down.
Speaker 3 (09:27):
But when it's down, those companies that you own they're fine.
They're not going anywhere, they're not gonna disappear. They're solid companies,
and you're able to take advantage, able to take advantage
when things are down and continue to build. We talk
(09:47):
about that when it comes to dollar cost averaging. We
at Markowski Investments, Okay, we're not playing the technical nonsense
riding waves fast money garbage because again fast money is garbage.
And they got a television show on CNBC called Fast Money,
(10:10):
Please please. Okay, they put all these traders up there,
and all these people up there, and you even taking
a look at their performance, but all the trades that
they're conducting, and all the gibberius that they're yelling back
and forth at one another, you ever take a look
at the size of their poorfolios minuscule, minuscule, and are
(10:31):
quite frankly, they wasting time, wasting time trying to guess
what's going to happen tomorrow, next week or next month.
We at Markowski Investments we build ownership and great businesses
with great ideas, Businesses that have certain economic and very
(10:56):
specific niche advantages, Companies that have great management. We buy
companies based upon our expectations of performance over time. When
we buy a company, we're putting companies in people's portfolio.
Speaker 2 (11:15):
The hope is that we can own them forever. We
can own them forever, not always the case. It's not.
And we've also talked about here.
Speaker 3 (11:27):
You know, as companies go up, you want to trim
positions and take some money off the table and reallocate assets.
Speaker 2 (11:34):
But one thing we do not do. We do not
do because.
Speaker 3 (11:38):
It's a complete exercise and futility, is try to time
the market. If any business we buy, if we feel
that it is valued properly, we're gonna buy no matter
what the market is doing. If the market is in
an absolute kizzy going down and they're oh, you gotta
(11:58):
get out of the way here, Yeah, I'm still a
great company, right, what difference does it make? It can
turn around tomorrow. We're not stock pickers, that's not what
we do. We're not market timers. We are great business owners. Okay,
(12:20):
we want to own fantastic businesses. That's what we do.
So you know, market crash happens.
Speaker 2 (12:29):
Crash bang boomboo.
Speaker 3 (12:34):
If you're holding on, if you're holding on to great companies,
what do you have to worry about? What do you
have to worry about when markets.
Speaker 2 (12:45):
Inevitably because it's gonna happen.
Speaker 3 (12:49):
Inevitably reverse sometimes for a while.
Speaker 2 (12:54):
Okay, the world.
Speaker 3 (12:57):
Doesn't end, Okay, Never bet on the end of the world.
It's gonna only happen one time. Okay, you own high
quality companies, they are going to come back. Okay, you're
looking people, you're looking five, ten, twenty, thirty years down
(13:20):
the road. You don't want to obsess over finding a
perfect time to own a company.
Speaker 2 (13:29):
It makes no sense whatsoever. I have no clue. I don't.
I don't.
Speaker 3 (13:38):
Again, I'm in my mind, do I you know again
like anybody else, Well, this happened on Friday. This is
where you know, market might go up on Monday morning
at nine thirty. Do I watch? No, I don't even
pay attention. I don't because again it makes no sense.
(13:58):
Not good at timing the mark it's okay, very good
at figuring out when we're getting enough for our money. Again,
I talk about this, and you know it's funny. It
was actually Jamie Diamond came out and talked about all
the possibility, possibility of a thirty percent market correction, and
(14:23):
it's always out there. Of course, it's always out there.
Of course that's always a possibility. But Jamie Diamond also
runs a company called JP Morgan. And one of my
favorite lines, favorite quotes from one of the Masters of
the universe Wall Street Master's owners.
Speaker 2 (14:39):
And again it holds true to this day.
Speaker 3 (14:43):
In bear markets, stocks returned to their rightful owners. Let'll
say it again, in bear markets, stocks returned to their
rightful owners. Now, JP Morgan was saying something that, quite frank,
pretty pretty arrogant, pretty egotistical, but he's right. Basically, he
(15:07):
was just saying, guess what people are gonna do dumb
things with their money when there's markets selloffs.
Speaker 2 (15:13):
They're gonna freak out, They're gonna freak out.
Speaker 3 (15:15):
They're gonna sell their great companies to me, and I'm
gonna pick them up at a discount.
Speaker 2 (15:24):
That's all he was saying. Guess what.
Speaker 3 (15:27):
You might call it arrogant, whatever it may be, he's right.
Speaker 2 (15:32):
Again and again and again.
Speaker 3 (15:35):
Every single time, every single time.
Speaker 2 (15:40):
There's a market sell off, there's a crash, whatever, it's
the same thing happens.
Speaker 3 (15:49):
This is why, this is why you've got to get
yourself set up, set up with a properly allocated portfolio.
Sit back, know that you own quality and you're gonna
be fine. You're gonna be fine. I mentioned it last
week on the program. You know, maybe I might look
(16:11):
at my personal portfolio. Maybe once a year.
Speaker 2 (16:16):
I don't have to. I don't have to.
Speaker 3 (16:20):
I know, I know exactly what I'm doing. I'm dollar
cost averaging, I'm putting money. I know where everything is going.
I don't have to worry about don't care what the
market is doing. Okay, I don't start high five and
when the markets are at highs either like now, nor
do I freak out when there's a market sell off
because I'm not concerned about any of those things.
Speaker 2 (16:41):
And if you are, you're making a mistake.
Speaker 3 (16:46):
I invite each and every one of you to become
a part of our family.
Speaker 2 (16:51):
What we do at Markowski Investments.
Speaker 3 (16:54):
We've been teaching here on the Watchdog on Wall Street
sho for twenty five years. Sign up for our person
CFO program. Get to our website at Watchdog on Wallstreet
dot com. That's Watchdog on Wallstreet dot com, Personal CFO program,
our podcast, our newsletter. Do your homework on us and
(17:15):
see what we've been doing for our clients for over
thirty years Watchdog on Wallstreet dot com. Or give us
a call eight hundred four seven one fifty nine eighty four.
Speaker 1 (17:43):
This is the Watchdog on Wall Street. All right, are
you ready?
Speaker 3 (17:53):
Yeah, you're gonna everybody's gonna get a bit of a
wake up call and a lecture for me now now,
and I know for some of the people out there
again that are doing the right thing, but listening to
this program for some time.
Speaker 2 (18:05):
You know this already.
Speaker 3 (18:09):
Let me tell you something was covered up, covered up
this past week and last weekend. The amount of people
that committed suicide after the crypto crash from last weekend,
The amount of people that killed themselves and it took
their lives because they thought they were worth millions of
(18:31):
dollars and they woke up and it was gone. It
was all gone. I'm going to share with everybody quickly
here I the way we do things here at Markowski Investments.
It's based upon the wisdom of the ages. We don't
(18:57):
have a magic algorithm them. We don't claim to be
of higher intelligence than anybody else.
Speaker 2 (19:06):
We just follow the laws of the universe.
Speaker 3 (19:11):
And what has worked always and again.
Speaker 2 (19:16):
That's true conservative principles.
Speaker 3 (19:20):
I'm going to read you something from Ecclesiastes in the Bible.
What has been will be again, and what has been
done will be done again. There is nothing new under
the sun. I'm going to read you something from Proverbs.
Dishonest money dwindles away, but whoever gathers money little by
(19:44):
little makes it grow.
Speaker 2 (19:47):
Proverbs.
Speaker 3 (19:48):
The plans of the diligent lead to profit as surely
as haste leads to poverty. Why am I reading these things?
Thing that happened last weekend? Everything then happened last weekend,
the wipeout that we saw, the losses that were had,
(20:09):
and again that the tragedy that went along with that.
We told you was gonna happen. We told you exactly
what was going to happen. More on this when we
get back. You're listening to the Watchdog on Wall Street again.
Watchdog on Wallstreet dot com. Watchdog on Wallstreet dot com
is our site. You want to start doing things the
right way? Sign up for our personal CFO program Watchdog
(20:33):
on Wallstreet dot com.
Speaker 2 (20:34):
We'll be back.
Speaker 1 (20:39):
You're listening to the Watchdog on Wall Street, the only
(21:01):
man who is taking on the Wall Street establishments. You're
listening to the Watchdog and Wall Street with Chris Markowski.
Speaker 3 (21:11):
It wasn't a matter of if, it was a matter
of when. It's just that simple. I am over the
years of my career prior to having this radio show
new listeners out in the program. Prior to having this
radio show, the show started in two thousand, but in
there for twenty five years. Prior to that, I was
(21:33):
a guest on many radio programs, television programs, and I
was mocked, mocked and ridiculed for my position at the
time in that these dot coms, many of them are
going to go by the wayside there many of them
have and there's no business to them at all.
Speaker 2 (21:55):
They're going to fall apart.
Speaker 3 (21:57):
Mocked for calling out and didn't you know, solve the
problems there world come all of these things that we
called at Markowski, I had no watchdog on Wall Street
show at that time. Okay, we were mocked and made
fun of. People couldn't believe it. I was obviously much
much younger at the time. How can a young guy
(22:20):
on Wall Street be thinking this way? Because guess what
the conventional wisdom of the day, it's a new paradigm.
Earnings don't matter anymore. All all of the bs that
they're throwing at you. And we were right. Okay, people
got hurt. We were right. To make me feel good
(22:43):
for being right, you know, maybe a little bit at
the time.
Speaker 2 (22:47):
But when I'm right.
Speaker 3 (22:51):
When I'm right, the things that we call people oftentimes
are losing a hell of a lot of money. We
didn't Warren for some time here on the program warning
sometime about this whole meme coin crypto nonsense, because that's
exactly what it is. You're taking a look at all
(23:12):
of these ridiculous coins, and you know what people lost.
Speaker 2 (23:21):
Again, I'm gonna try to make you feel a little
bit better.
Speaker 3 (23:23):
If you got whacked around with this, you didn't have anything, okay,
you didn't have a darn thing. What has been created, okay,
is basically a way to make gambling look legitimate. Basically,
(23:45):
they have legitimized degenerate gambling.
Speaker 2 (23:52):
You know that.
Speaker 3 (23:52):
The messages that I've got, I've been spending years on
this stuff, and people with you know, computer screens in
front of them with their charts.
Speaker 2 (24:03):
Trading air literally nothing. Okay.
Speaker 3 (24:08):
At least with the dot COM's, they had a corporate
ID number, they had an idea, maybe a bad business.
Speaker 2 (24:13):
Plan, but at least there was something there. Here's nothing nothing.
Speaker 3 (24:20):
Somebody comes up with some ridiculous made up me for
crying out out.
Speaker 2 (24:25):
People were trading something called fart coin. Think about that.
For a second.
Speaker 3 (24:33):
It's just clever and people were doing this for a living.
There's nothing financial about this. Now again here comes a
you know, I'm gonna be honest with everybody here, and
you gotta have this moment. You gotta look yourself in
the mirror. You know as well as I know deep
(24:55):
down inside. Okay, what you do for a you're sitting
in front of your screens trading these ridiculous coins.
Speaker 2 (25:04):
You know, what you're doing for a living is.
Speaker 3 (25:07):
Complete utter bs, and you know it, complete and utter bs.
I see these again, getting messages from listeners, getting stuff
from all over the place, showing me what their portfolios were.
They're not it's not a portfolio. You didn't have anything.
Speaker 2 (25:32):
Yeah, but it was worth four million. No it wasn't.
Speaker 3 (25:35):
Okay, you levered up. Okay, you took on leverage to
buy fake money, fake money that was illiquid. You have
to find another buyer for this. This is why these
numbers that they're thing. Oh, it's just twenty billion dollars
(25:57):
wiped out, fifty billion dollars wiped out.
Speaker 2 (25:59):
No, it wasn't.
Speaker 3 (26:00):
There was no dollars involved. Where was the dollars? There
was no dollars involved. It was made up money. The
cash that's in your Monopoly board game is literally more
legitimate than what you're doing. It was absolute, utter nonsense
(26:23):
and that I almost.
Speaker 2 (26:24):
Punched a hole in the wall on Sunday. I did.
Speaker 3 (26:29):
I was so because I again it pains me, it
really does. I hate seeing people get destroyed. And again
again I'm seeing people committing suicide. I mean, awful stuff happening.
And one of the uh what was a coinbase came out, Oh,
we're gonna now offer fifty times leverage. Fifty times leverage.
Speaker 2 (26:55):
What was it was it? Uh?
Speaker 3 (26:58):
Charlie Munger, the late great Charlie Munger, who I love
the quote here in program, another guy that actually uses
wisdom when it comes to used wisdom when it came
to investing. He said, smart people go broke, ladies, liquor
and leverage. You didn't have anything. What I'm here to
(27:21):
tell you right now, believe it or not, and we're
gonna go to break and we'll get back into this.
This might be the best thing that ever happened to you. Yeah,
I'm gonna say that right now. Yes, what are you saying? Oh,
you wipe up, you didn't have This might be the
best thing that ever happened to you. You got wiped
(27:43):
out on your crypto positions. Get back.
Speaker 2 (27:47):
Let me tell you why. Watchdog on Wallstreet dot com.
Speaker 3 (27:50):
Watchdog on Wallstreet dot com is our site again. Become
part of the Watchdog on Wall Street family, our personal.
Speaker 2 (27:57):
C F all program, pod cast.
Speaker 3 (28:00):
Newsletter, all sorts of great stuff. Watchdog on Wall Street
dot commorce give us a call. Hey, hundred four seven
one four.
Speaker 1 (28:22):
You should believe in math not magic. You're listening to
the Watchdog in Wall Street with Chris Markowski.
Speaker 3 (28:32):
Do you want to live a life built on something solid,
something real?
Speaker 2 (28:38):
We we can week out here in the program.
Speaker 3 (28:41):
One of the things we try to get across is
to build, create, protect, and teach you in front of
your many computer screens trading your alt coins, meme coins,
whatever the hell you want to call them, are you
doing anything at all with your life? I know this
(29:02):
might be a smack up side the head, and I
know many people maybe shut the radio program off right now. Again,
I have to be brutally honest here at this point,
what are you doing with your life?
Speaker 2 (29:12):
Honestly?
Speaker 3 (29:15):
I know, listen, it hurts right now because you thought
you were worth something you bought into something that just
it's one of the oldest lies on the planet. Getting
rich quick, getting rich quick.
Speaker 2 (29:32):
Right, oh yeah, we get rich quick.
Speaker 3 (29:34):
Gee, you know for you know, it's kind of funny there,
It's kind of funny.
Speaker 2 (29:40):
Gee. Bible's been around for a long time.
Speaker 3 (29:44):
Dishonest money dwindles away, but whoever gathers money little by.
Speaker 2 (29:48):
Little makes it grow.
Speaker 3 (29:50):
Oh yeah, but no, a guy on social media's got
a ferrari in Miami. And you got these old coin
gurus out there, oh yeah, and mocking everybody out there
that doesn't buy into their ridiculous made up coin. Have
fun staying poor, you piker all on aim call the
stuff online. And then they got wiped out now and
(30:13):
then they're going on tirades blaming the exchanges and blaming
this and blaming that. You don't have anything. There's nothing
of value of what you do. Do you understand that
you've built your life on nothing. This is why I'm
telling you, this is a great opportunity. This might be
the best thing that ever happened to you to turn
(30:34):
your life around and actually do something of actual meaning
out there.
Speaker 2 (30:41):
This is worse than the dot COM's because It.
Speaker 3 (30:45):
Was actually seen as some sort of badge of honor
out there that you would go all in on one coin. Yeah,
coin maximalism. Go into debt. Oh yay, go into debt.
That's a fiat currency out there, No big deal. Hold
on long enough, it's gonna come back.
Speaker 2 (31:03):
Are you nuts? People? It's okay, it's okay.
Speaker 3 (31:11):
You start over, you learn from your mistakes, and you
move on. Watchdog on Wallstreet dot Com. Watchdog on Wallstreet
dot Com again. Become a part of our family. Okay,
our family. Everything in life that has meaning, value and
worth involves work, time and effort.
Speaker 2 (31:30):
Period the end. Watchdog on Wallstreet dot Com. We'll be back.
Speaker 1 (31:41):
Chris Markowski is the watch Dog of Wall Street, bringing
(32:02):
America financial freedom. One listener at a time. You're listening
to The Watchdog on Wall Street with Chris Markowski.
Speaker 2 (32:13):
Welcome back, go back. Yeah. You know it's funny.
Speaker 3 (32:19):
I was talking to some people this past week and
I'm saying, Wow, you know it's gonna go on sale.
You're gonna be able to buy a lot of fancy,
super expensive cars down in and around Miami because all
these crypto bros I got wiped out, got wiped out.
And their fancy cars are going to go away again,
(32:43):
building one's life on sand. It's not real. I really people,
I don't want and I don't mean to be harsh.
I really don't. I really don't like yelling here on
the program. I want to offer you hope. I mean,
(33:03):
many people felt like you've lost You didn't have anything
there in the first place. You didn't there was nothing there.
What did you start out with? Well, I started out
with you, and I built it up to this. You
didn't build it up to anything because it wasn't there. Okay,
you lost a lot of time, you did, You lost
(33:26):
a lot. You wasted time. You wasted time. And guess
what you learned from that? Okay, hopefully you're gonna learn
from that. One of the things that again I encountered,
I encount we were building Markowski investments. We were building
Markowski Investments up. We started out by helping out victims,
(33:51):
victims of the Wolf on Wall Street. That's what we did.
We contacted the clients. We went after the all the
boiler room operators, the Jordan Belfords of the world. We
went out and we talked to them, brought them in.
We'll tried to bring them in and explain to them
that what they owned in their portfolios was garbage.
Speaker 2 (34:14):
Okay, they lost.
Speaker 3 (34:17):
There wasn't going to be any sort of quick way
to make the money back, because that's one of the
things that people actually believe God to make my money back.
We talked about that last week here on the program.
We were talking about Richard Thaylor reissuing his book and
Behavioral Science and Economics and how People Behave and thinking that,
oh my god, I'm gonna double down on this bad idea.
(34:39):
No no, no, no, no, Okay, there's nothing there. There's
nothing there. Start over. Sometimes starting over is just what
you need. There's nothing wrong with that. And back then
early nineteen nineties, certain people listened, many didn't. Many didn't
(35:06):
because again, in their mind, in their mind, oh my
portfolio was worth x amount of dollars X amount of dollars.
Speaker 2 (35:16):
Here here's another bit of a lesson.
Speaker 3 (35:18):
And I know I've talked about this before here on
the program, and it's unfortunately people don't really understand assets, dollars, money.
There's a disconnect. And one of the ways, one of
the ways the powers that be use this is they
talk about who's the wealthiest person who's the richest guy
in the world. Is it Elon Musk? Is it Jeff Bezos?
(35:40):
Who's the richest guy in the world. Well, Elon Musk
is worth a half a trillion dollars.
Speaker 2 (35:46):
Okay, Elon Musk.
Speaker 3 (35:50):
Elon Musk has built up wonderful businesses, built up wonderful businesses.
That again, if you take a look at the value
of the stock that he owns, the value of his companies,
it's worth x amount of dollars based upon where the
stock is trading today. Now there's something that's called a bid.
(36:17):
There's a bid and then there's an ask, meaning that
he can sell x amount of shares x x amount
of shares for a certain price. What do you think
would happen if Elon Musk woke up tomorrow and said,
you know, sell it all, sell my entire position in Tesla,
(36:37):
get rid of the whole thing.
Speaker 2 (36:41):
Do you think he'd walk away with a half a
trillion dollars.
Speaker 3 (36:47):
The stock the stock would take, the stock would take
selling begets selling.
Speaker 2 (36:55):
People would freak out.
Speaker 3 (36:58):
He would have to find a singer, you learn, buyer
that had a half a trillion dollars to purchase that
in order for him to get his half a trillion dollars.
It's worth what somebody else is willing to pay for it.
Speaker 2 (37:11):
Now. Elon Musk owns great businesses.
Speaker 3 (37:16):
You own fake money. You own fake money. Not to mention,
you own fake money that you levered up. Do you
understand here, people? You have to understand you tried to
get rich quickly in your little account statement on your
computer it said it was worth x amount of millions
(37:38):
of dollars whatever.
Speaker 2 (37:39):
It may be. You know it wasn't. You'd have to
find a buyer for that.
Speaker 3 (37:46):
And all of these ill liquid coins levered up. Do
you understand how quickly that collapsed? Did you watch that?
Speaker 2 (37:54):
Is that?
Speaker 3 (37:54):
Does that sound real to you at all? You're gonna
go back in to listen to these people on YouTube?
Speaker 2 (38:02):
Ah? Yes, stay, poor folks, look at my ferrari You
canna you can actually go believe that nonsense?
Speaker 3 (38:11):
Se What I do here is I own high quality
businesses that employ people, that come up with products, that
pay dividends, that do a myriad of things. And guess
what market sells off? They come down in price. But
guess what those businesses are still operating. They're still selling stuff.
Your fake money went to zero. I'm pleading with everybody
(38:36):
out there, please stop looking for shortcuts in life. I
didn't build Markowski and Markowski investments in what we built,
the top iris and the entire You think this happened overnight.
You know what's work went into this. You know the
(38:56):
backstory is quick Moneys bs Man. The sooner you get
your arms around that, the better off you are going
to be. Watchdog on Wall Street dot com, Watchdog on
Wall Street dot com our site again become a part
of the Watchdog on Wall Street family, personal CFO program, podcast, newsletter,
(39:22):
Watchdog on Wallstreet dot com.
Speaker 1 (39:24):
Pull me back, Hey, so is t You're listening to
the Watchdog on Wall Street
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