0:03

Hello and welcome to Dvorak

0:05

Horowitz Unplugged, an hour-long discussion

0:07

of activity in the financial

0:09

markets around the world featuring

0:12

columnist John C. Dvorak and

0:14

money manager Andrew Horowitz. This

0:17

conversation is casual and unrehearsed.

0:20

Let's join John and Andrew now. I'm

0:25

John C. Dvorak. And I'm Andrew Horowitz. Here

0:27

we are as we plow through the

0:29

month of September. We're almost over past

0:32

halfway. It's the 17th of

0:34

September, 2024. That's

0:37

a mouthful. It's a lot. Apparently.

0:40

Yeah. Well,

0:42

as we've been doing, we've been doing quite successfully. And

0:44

thank you, everybody, for helping out and for joining in

0:46

the celebration of financial education

0:49

information, news and things that are

0:51

just related to the world at

0:53

large pertaining to your pocketbook. We

0:56

are once again at the head of the show, the top

0:58

of the show, top of the hour, asking

1:00

for donations, requesting

1:02

that you join in. Damn,

1:04

this is my voice is very bouncy. And

1:08

you could do so by going over to

1:10

dhunplugged.com. Either the show notes for this episode,

1:12

which you could easily get to, of course,

1:14

episode number 719, or just

1:17

write on dhunplugged.com and donate.

1:20

Your donation will come along with

1:22

a personalized thank you note from

1:24

John or myself. Just letting you know. You

1:29

know, talking about your throat. Yeah. I

1:32

had, was in Brazil

1:34

once and it was at the behest

1:37

of IBM to give a one day

1:39

seminars on something. And

1:41

I was, you know, as I was almost going to

1:44

lose my voice from talking for, I think I had

1:46

to talk for six hours a day. It was for

1:48

a couple of days. Somebody

1:50

came up to me with a salted

1:54

dried ginger, little bitty things.

1:56

And you take them and

1:59

suck on them. And

2:02

I've never had a problem with my throat ever since. And I've

2:04

kept these around and I've given, there's

2:08

like a whole little bottle full of them. It's

2:10

just like lasts for a lifetime. And

2:13

I've given out a few people who have had to- Where do you

2:15

find such a thing? You

2:18

had to go to Brazil, I guess. I mean, cause

2:20

you met, the reason that came to mind is because

2:22

you mentioned you had a homeopathic

2:25

nurse that you ran

2:27

into and it's a homeopathic medicine. And

2:30

the Brazilians, they have like homeopathic,

2:35

they're very much into that. I

2:37

guess if you're next to the Amazon river

2:39

basin, you'd probably find all kinds of

2:41

stuff that is good for you. But yeah,

2:44

I was just thinking about that. I'll

2:46

look into, I don't know how you get them. I'm

2:48

sure it's available on some sites somewhere. And by the

2:51

way, this brings back a discussion

2:53

which you've had an argument

2:55

to a disagreement, whether

2:58

it's this homeopathic

3:00

ginger salted item

3:02

is either a lozenge or a lozinger.

3:05

The lozenge, yes, the argument is

3:08

there's no such word as lozenge.

3:11

I think there is though. I think we unearthed

3:13

that. When we

3:16

looked this up, I think we unearthed the

3:18

fact that people in certain areas of the

3:20

country say lozenge, like I say lozenge. Yeah,

3:24

lozenge. And

3:26

you call it a lozenge. Yeah,

3:29

it's a lozenge. It sounds so

3:31

silly. Hello Z-E-N-G-E, I think. It

3:33

seems like it did. I don't know where the lozenge

3:35

came from. Listen,

3:38

let's talk about what's going on in the market. Best

3:40

week in a long time. Markets were popping last week

3:43

ahead of what is soon expected to be a very

3:45

exciting and rebel rousing day on

3:48

Wall Street when the Fed is finally on

3:51

the 18th of September, 2024. We're

3:54

gonna come out with a decision,

3:57

finally gonna do something.

4:00

Now, bets are all over the place right now.

4:02

We'll talk about that. But

4:04

the market was

4:06

definitely coming down. And I think what we got

4:09

was a mixture

4:11

of what I'll call a dog cat bounce

4:14

post-debate with

4:16

all pun intended. Yes.

4:21

I mean, that's still going on. The dead

4:23

cat bounce is taking on a new meaning.

4:25

Yeah, the dog cat bouncer is

4:28

happening. Everywhere, the internet is, in

4:31

the old days, blew up with

4:33

songs and puppy

4:36

sandwiches and people putting cats in the

4:38

microwave and doing all sorts of

4:40

funny things because they're eating the pets. They're

4:43

eating the pets. My favorite meme

4:45

that showed up recently is we've

4:48

always known that aliens eat cats

4:51

and they had a picture of

4:53

Elf. Remember that character? Sure. Elf

4:55

used to eat cats. So

4:58

there you go. Does he live in Springfield? They

5:01

never, I don't know what time they were in, but

5:03

maybe. Maybe. Maybe that's where it all

5:05

started. Maybe that's where it all started. We

5:09

have more back to work directives that are

5:11

going on right now. Apple has come out

5:14

with some information that was, I would say,

5:16

generally disappointing once again. As

5:18

usual. It's this slow

5:21

roll of they

5:23

have something. It's going to be great. The

5:27

big thing right now is that they came out with, what

5:31

was it they came out with? They have messages

5:33

that I like this, of all the things they're coming

5:35

out with. The one thing I do like is

5:38

that they have message scheduling.

5:42

So if I'm up at three and more.

5:44

Oh my, what a breakthrough. Whoever heard of

5:46

such a thing. Unbelievable.

5:49

But I like that idea. Other than

5:51

that, the hope for AI

5:53

is hope for, it's

5:56

still maybe coming in

5:58

the future. So that was. something. And

6:01

one of the things I've been noticing, you

6:04

did this great on the No Agenda show with

6:06

Adam Curry, John C. Dvorak, Adam

6:08

Curry on Thursdays and Sundays, the No Agenda podcast.

6:11

This is a great podcast in the morning and

6:13

I can say it 33 times

6:15

in a row, but the bottom line is one

6:18

of the best if not the best podcast in

6:20

the universe. You have to make sure to grab

6:22

that either live or on your favorite podcast app.

6:24

One of the things that you do quite often,

6:26

the two of you, is

6:29

a casual, what do we call it,

6:31

phraseologies, little things that

6:33

are happening like, yeah, no. Like

6:37

some of the things... A phraseology that

6:39

is annoying. Right. So now all of

6:41

a sudden have you noticed that

6:44

the news has been talking about the things

6:46

that are happening in Washington,

6:48

in the White House, is now the

6:51

Biden-Harris administration. It's

6:55

not the Biden administration has

6:57

come up with a... Let's say, for

6:59

example, I'm gonna... This

7:01

is not true, but this is an example

7:03

that there was an executive order issued, right?

7:05

Signed in. Used

7:10

to be the Biden administration signed an executive order

7:12

to blah, blah, blah, blah, blah, blah, right? Now

7:15

it's the Biden-Harris administration has signed an executive

7:18

order to blah, blah, blah, blah, blah, blah.

7:20

Yeah. So... I haven't noticed that,

7:23

but now that you mentioned it, I think I have

7:26

been observing it. I just didn't think it was

7:28

anything other than... Yeah, I

7:31

think you're on to something. Yeah,

7:33

they're clearly all over trying to include

7:35

Harris in the administration's...

7:39

What they're doing. To now

7:42

have her branded

7:44

with whatever the items are so that

7:47

she can seem to have much more

7:49

power. That's why I did blame

7:51

for the screw-ups. Either one. Yeah, that's a good point. Gonna

7:54

be blamed for it too. So this week,

7:56

let's talk about the markets. Big week for central bank

7:58

rate decisions. Oh my, we have, I think... I think

8:00

four? Or I

8:02

think there's at least four. Today

8:05

was a meeting of the Fed. Tomorrow's

8:07

gonna be the decision. 2 p.m. Eastern time

8:09

is the actual rate decision, whether

8:12

or not they're gonna do, I don't know, 25 basis

8:14

points, 50 basis points, whether

8:17

or not they're gonna do 25 basis points, talk it up at the

8:19

230 press conference. I'm

8:22

not sure how it's gonna work. But the bottom line

8:24

is there's a lot of expectation going into this. Rates

8:27

have come down from close to 5% on

8:29

the 10-year, down

8:31

to 3.6%. Gold's at an

8:33

all-time high. Utilities, I think,

8:35

are right at an all-time high. Stocks

8:39

are at an all-time high. So

8:43

retail sales actually are doing pretty well. Manufacturing

8:45

doing well. We'll talk about all these

8:47

numbers. And it seems like we should

8:49

be reducing rates, because, I mean,

8:52

inflation has come down dramatically, and the markets

8:54

are at an all-time high. Everything seems to

8:56

be hunky-dory, so what are we doing anything

8:59

for? I have no clue. The whole thing

9:01

is a mess. It's

9:03

just to keep the whole thing rolling. I

9:07

think, and I'll talk to you about this a little bit more as

9:09

we go through this discussion tonight, I

9:12

think they're gonna reignite inflation again, potentially. It

9:15

may not be immediately, but

9:17

it seems to me if they go on a rate-cut cycle

9:20

for the effect of now

9:22

skewing their policy towards

9:25

employment rather than, because

9:27

we have those big adjustments and less

9:29

people on the books, 4.2%, 4.3% unemployment. But

9:34

if they do that, because they wanna get ahead of the

9:36

curve, I'm afraid still that it's

9:39

such an uneven situation with

9:41

prices and employment that they

9:43

may spark inflation. And

9:45

then what they're gonna do is they're gonna come

9:47

in with an adjustment to their inflation policy, saying

9:49

that no longer is 2% the number. They'll

9:52

use inflation averaging over a period of time,

9:54

and maybe 3% will be

9:57

the number, and they'll do something like for

9:59

the foreseeable future. Yikes. Which

10:02

I think will discredit them dramatically. 3% is a lot. Is

10:05

a lot. Yeah, because it's

10:07

cumulative month after month after month. Well,

10:09

3% a year, but yes, but yeah,

10:12

correct. So rotation

10:14

is still a big thing, keeping markets in check. We

10:17

saw that again today, the markets were flying high on

10:19

some news on a couple of stocks and the Dow

10:21

was doing really well. The NASDAQ was down, then it

10:23

all shifted back the other way. And we saw all

10:25

of a sudden, Nvidia come down and Amazon

10:27

really flying because of a couple pieces of news

10:29

that were out there. Then

10:32

we saw like the small caps

10:34

over the last few days. I think the small caps are

10:36

up like 5% over the last

10:38

few days in anticipation of this. And

10:41

this rotation just keeps on going day after day, one

10:43

day up on one area, one day

10:46

down the other area. And it keeps everything just, it's

10:49

like a slow boil on a soup. It

10:53

keeps it blended. But

10:56

rates are pretty low right now. Bond traders. I

10:58

kind of wonder if they're overconfident because if

11:01

we went from approximately, what

11:04

did I say, 5% to 3.6, that's 1.4% down on the 10

11:06

year. Does

11:11

that mean that if they cut rates 25 basis points,

11:13

we're going to see yields drop

11:16

even further or does that mean that 25

11:18

basis points will actually be not

11:20

looked upon quite well

11:23

and drive rates higher, but a 50 basis

11:25

points will be looked

11:27

upon as beneficial. And if it is 50 basis points,

11:29

does that mean the Fed knows something that we don't

11:31

know and the economy is in worse shape and the

11:35

whole discussion goes in circles forever? Yeah,

11:40

you sounded like a maniac there. That was good. Yeah.

11:43

Well, by the way, I just don't see how they

11:45

can do 50. If they did

11:47

that, it would do, because everything's already baked in,

11:49

25 is what it's going to be. And

11:52

if anything or nothing, but

11:55

50 would be a nightmare. That'd

11:58

be good for the market. I think the market.

12:00

go skyrocketing? I don't know. I think

12:03

honestly the markets in a relatively

12:07

near-term no-win situation. So

12:10

near-term the problem is if they do 25, has that already

12:12

been baked in and you know okay

12:15

then they're gonna have to go with the idea

12:17

that there's another 25, another 25, another 25 coming. If they go 50 I think the

12:22

markets can get a little worried. I

12:24

think it's a little bit too much but again you

12:27

listen to these experts

12:32

on the TV, on the tube. Yeah,

12:34

they're all predicting the same thing.

12:38

So there's only a

12:40

chance for, it seems to me that it's

12:43

we're priced to perfection. So

12:47

the only thing that can happen is disappointment. So

12:49

it seems. I

12:52

mean every day for the last however long you

12:54

know markets go down for a few days then

12:56

pop right back up. That's

12:59

a sign that everybody believes is liquidity in the future.

13:02

The VIX is down at 16 and a half or

13:04

17 again. Yeah, we're yeah.

13:08

Oil is coming back also. A miserable two

13:10

weeks on oil, pop

13:13

right down through support then right back

13:15

up. And

13:19

the last little sneak peek at some of

13:21

the things we'll talk about tonight is

13:23

we have a new Trump coin out there. A new

13:27

cryptocurrency. Well not really. Well I

13:30

guess there's a Trump coin. I guess there's a, I

13:32

don't know what's gonna be called exactly, but through a

13:34

new platform,

13:38

a new exchange which

13:41

by God we don't have enough

13:43

of those already. There's a deal

13:45

coming out which of course the

13:48

entire Trump family is involved in getting

13:50

17. I believe we'll talk about the 17%

13:53

of the of

13:55

the of the company itself is

13:58

right with all the Trumps. the

14:00

family Trump and then some

14:02

of it's, there's gonna be lending on it of

14:05

coins and there's gonna be other

14:07

kinds of weird things that go on there. So

14:10

another potential, I guess IPO

14:13

in the future that probably won't do well. So

14:17

central banks, here we go. Federal

14:20

Reserve, two day meeting, talked about that.

14:23

Gets underway today, wasn't finished today.

14:26

Elsewhere Brazil central bank is scheduled to hold

14:28

its next policy meeting on Wednesday. The

14:31

Bank of England, Norway's,

14:33

Nords Bank, South

14:35

Africa's Reserve Bank will follow on

14:38

Thursday with their rate decisions.

14:41

And the Bank of Japan will provide his rate decision on Friday.

14:45

That's a lot for one week. No

14:48

kidding. Markets are getting a little, as

14:50

I see them. The banks are running the world

14:53

with this story. Yeah, the central banks are running

14:55

the whole thing, aren't they? It's a group of

14:57

people with marionettes. That's

15:04

how I see this. Yeah,

15:09

sounds good to me. Well, it

15:11

makes for a lot of fun. I think people are jumping around.

15:13

Yeah, so back to work. What do you think about this whole

15:15

is back to work edict? What

15:18

about it? Well, Amazon

15:20

is now instructing corporate staffers to

15:23

spend five days a week in the office. Andy

15:26

Jasser wrote a whole letter, a memo on

15:28

Monday. Yeah, this is going

15:30

on here and there. I don't know,

15:33

I think, I can't

15:35

get to the bottom of why. Do

15:38

they think their employees are ripping them off? They

15:40

don't trust their employees to be working from home.

15:42

And so even though the early studies of work

15:45

from home environments, people tend to do more work

15:47

at home because they're not as distracted. And

15:50

they get their work done

15:52

sometimes more efficiently at home. And

15:56

if it's not a job where you're in sales,

15:58

you got to be floating around. to be going

16:00

door to door or whatever you have to do. Or

16:03

if you're like broadcasting, we have to be in the

16:05

studio. Most people don't need to

16:07

be. What are these offices? What's the point?

16:09

If it's in a networked environment where you

16:12

have the internet and connectivity

16:14

and VPNs and everything that you actually

16:16

are on the office network, the same

16:18

as you would be in the cubicle,

16:21

what difference does it make? I

16:24

mean, there are differences of opinions on this. You

16:27

know, the old- Oh, I believe me. I'm familiar

16:29

with all. I wrote a column in Substack. People

16:31

can go back and check it out where I

16:33

don't think most people can

16:35

handle working at home. And that's one end of

16:37

the spectrum. I just don't think they know what

16:40

they're doing. They're just, they

16:42

can't work from home. And

16:44

there's other people that thrive working from home.

16:47

And there are some people that think you should, and there's

16:49

people that think you should never be working from home whether

16:51

you like it or not, because, you

16:53

know, it's not good for the

16:55

team. And there are other people

16:57

that say, why are we spending all this money on these

16:59

big offices? Everyone should be working from home, which

17:02

is there are some environments

17:04

like that where there's nobody, there's no,

17:06

everything's virtual. So the spectrum

17:08

is just beyond, it's just all

17:10

over the map. I

17:12

think it depends on what the actual industry

17:15

is. You know, help

17:18

desks, that can be very

17:20

clearly decentralized. I work with

17:22

several help desks that are decentralized and it's fine,

17:24

it's great. I wouldn't know the difference if they

17:26

were sitting next to each other talking or not.

17:29

On the other hand, you have manufacturing, you can't

17:31

do that from home. You gotta create the widgets

17:33

on the line. Yeah, but that's not

17:35

what we're dealing, talking about. Right, but there is

17:37

something to be said, I think, call

17:39

me old school, for

17:42

the water cooler closeness of

17:49

some of the people and

17:51

the potential for just

17:54

a better overall environment, working environment,

17:56

and what's the word I'm looking

17:58

for. Not efficiency,

18:00

but I

18:03

mean, I know people work socializing. There's all kinds of I

18:05

know people that work from their house and they're relatively

18:08

becoming miserable people. Seriously.

18:12

Yeah, well, here you go. So

18:15

the decision marks a significant shift from Amazon's

18:17

early return to work stance, which required corporate

18:19

workers to be the office at least three

18:21

days a week. Now the company is

18:24

giving employees until January 2nd to start adhering to

18:26

the new policy. January

18:29

2nd, they're giving that much time. Yeah. The

18:32

other thing is about working from home is

18:35

that I am telling you, as sure

18:37

as I'm sitting here, because I know this, people

18:39

that work from home were sometimes

18:43

working more than one job and

18:47

getting away with it. Yeah. I

18:49

don't know how prevalent that is,

18:52

but it's doable. Yeah, it's doable. Actually,

18:55

you maybe have to work a couple extra hours, but

18:57

you still get two jobs in for the price of

18:59

one. Yeah. You usually do the work. Well,

19:02

the people that I knew, they were

19:05

clearly milking it for

19:08

all it was worth. Well, I can

19:10

see that, but that's going to be people working

19:12

in an office. They sometimes milk it for all

19:14

it's worth. They don't get anything done. Right. Right.

19:16

Where's Johnny? He's getting coffee. Where's

19:19

Johnny? He's in the bathroom. Where is

19:21

he? He's at lunch. You

19:24

know? All right. One day later, so

19:26

Oracle, Larry Ellison, one day, wow, came out with

19:28

a great, I think we talked about this last

19:31

week, came out with a great earnings

19:33

call, missed the market

19:36

a little bit, but projected some good numbers. There was a

19:38

lot of good things that were happening in that whole call.

19:40

Everything about it was great. Well, fast

19:43

forward one day later, the stock was up

19:45

dramatically. One day later,

19:47

somehow they're at a conference and

19:50

they now see at least 66 billion

19:52

in fiscal 2026

19:54

revenue, about 1.5 billion more than

19:57

the analysts expected. We're talking about a day

19:59

later. Capital spending also is going to

20:01

increase company plans for $104 billion in revenue in 2029

20:03

fiscal year. So

20:08

this again, I'm going to say it again. This

20:10

was the day after. This is well

20:13

beyond the conference call. What

20:17

was that about? Very peculiar. Kind

20:20

of, hey, you know, oh, hey, oh,

20:23

you know what, I had the comment in

20:25

the wrong place. Let's have another

20:27

call and update people. How does

20:30

that work? And even

20:32

if they got some kind of deal

20:34

later, something like that, or something fell right in the, why would

20:36

you do it one day later? Do it two months later. Yes.

20:40

If the stock was up to hold back a little bit.

20:42

So anyway, stocks up 55%, second

20:45

best of the tech companies just

20:47

behind Nvidia for

20:50

2024. Larry Ellison ring the bell

20:52

for him. Larry is now the second richest

20:55

person in the world behind

20:57

Elon Musk. Well,

21:00

he's always wanted to be ahead of

21:02

Gates. Well, that's, that's what

21:04

every time I think of Larry Ellison, I think

21:06

of he wants to be richer

21:08

than Bill Gates. And now that was the thing.

21:10

And now he is. He didn't care about Musk.

21:13

Yeah, Musk has nothing. But he

21:15

got it. He's probably thrilled out

21:18

of his mind. Oh, probably.

21:20

And we've talked about Larry being a much cooler person

21:22

than Bill Gates ever was. Well,

21:25

in terms of car collecting, that's for sure.

21:28

What about his, what about his sailing?

21:30

Yeah, well, yeah, the sailing thing is, yep.

21:32

He's a macho guy. He's a macho guy. He's

21:34

cool. Not as cool as Richard Branson. I

21:40

think, yeah, but, yeah, I think

21:42

Ellison's got a broader scope of,

21:45

you know, I think, I would say

21:49

to be, this is a stupid conversation,

21:51

but I would say that Ellison's

21:53

cooler than Branson. Really?

21:56

Yeah, I think so. I'd like

21:58

to see a cool competition. He's got the

22:00

island, he has an island, I think he's

22:03

got a lot more money. Does

22:05

Nelson own an island? Richard Branson's got an

22:07

island in the BVI's. So

22:11

that's- He's got more money than Branson. Yeah,

22:14

well- Branson's also a, I think, Ellison,

22:17

you know, seems to be involved

22:19

with the intel community, but I

22:23

think Branson's sketchier. Okay, I'll give you that.

22:27

Interesting history of Branson. Some

22:29

people believe he's a front for cutter

22:32

money. Let's

22:35

not go there. Now

22:38

it's just gonna upset me. I

22:40

like Richard Branson. Why would he- I like Richard

22:42

Branson. What am I gonna say? Oh,

22:44

you like him. I like him. I'm sorry.

22:47

I like him, yeah. All right, economics. Let's talk

22:50

about why things are so awful that

22:52

the Fed needs to cut rates like immediately. August

22:55

retail sales are up 0.1 versus estimates

22:57

of a negative 0.2 and

23:00

the prior was revised to

23:02

1.1% from 1%. So

23:05

you moved up

23:07

and you had better than

23:09

expected. What

23:11

does that tell you? It

23:15

doesn't really tell me much. Well, it tells

23:17

you that things are going a little bit

23:19

better than expectations. Yeah,

23:22

I guess it tells me that. Expectations, if

23:24

we take out auto, they

23:26

were a little bit lower. Industrial

23:29

production was plus 0.8% versus 0.1%.

23:34

So industrial production is up substantially. Prior

23:38

was revised to 0.9

23:40

negative from 0.6. So I'm

23:43

still a lot better on industrial production.

23:45

Capacity utilization, 78%. And

23:50

the revision was pretty much flat. So what is

23:52

this saying? What is this all saying? It'd be

23:54

like, what the hell is this guy talking about

23:56

industrial production and cap utilization?

24:00

This is on the manufacturing side. And

24:04

generally, you have to look at

24:06

this as the economy is, as I see it,

24:08

speeding up again. It

24:12

looks like the sign that manufacturing is speeding up, which

24:14

is one area, that was a problem. The other side,

24:16

which was the services, our

24:19

going out to eat, our traveling,

24:21

our going

24:24

to shows, entertainment, any

24:26

of the things we do in that regard, versus

24:30

buying a screwdriver,

24:32

right? The manufacturing side. Yeah.

24:36

That was a problem. Now all of a sudden, both are going

24:38

to pick up. Both are doing well. Now maybe service is going

24:40

to fall down a little bit. Maybe

24:42

people are saying, hey, I want to buy stuff that I can actually

24:45

keep, rather than just

24:49

experience. I don't know. So,

24:57

it looks to me that, to

24:59

tie a little bow around all this, that

25:02

the way- Yeah, I mean, I look

25:04

at these numbers and I also have

25:06

my own indexes of freeway traffic and

25:08

the rail traffic and the

25:10

things I can observe. And the

25:12

upcoming strike on

25:15

the east coast for this

25:17

longshoreman, this hit

25:19

a brick wall. Yeah.

25:23

You think it's going to slow down? If

25:25

the strike happens- I

25:32

guess. No, there's no,

25:34

I mean, especially the east coast. I mean,

25:36

we solved our strike

25:38

issues. Everything had come through Long

25:41

Beach and Oakland and Seattle, I guess,

25:43

and Portland, but west

25:46

coast, we should be okay. But the east coast would,

25:49

and that's going to affect all the

25:51

numbers. East coast, we're more manufacturing generally,

25:53

as I think. Yeah. Well,

25:59

we'll see. I still think that the Fed

26:02

is going to end up supercharging the

26:04

economy Once again, at least

26:06

for a little while Now

26:10

strikes obviously will change a lot of things but that's something

26:12

different Let's talk about

26:14

another bad apple the office of controller of

26:16

the currency a top banking regulator United States

26:18

said on Thursday It has issued

26:21

an enforcement action against what bank would you

26:23

think that could be pick any bank? Let

26:25

me think is there a bank that gets

26:27

in trouble left and right up and down

26:29

every which way I'm Debbie Wells Fargo That's

26:31

correct Wells Fargo. Very good due

26:34

to deficiencies in its risk management practices It's

26:36

not gonna be penalties the book company is

26:38

still in the penalty box due

26:40

to past issues. So that's a problem.

26:42

I I

26:46

can't believe that this I don't know 1800

26:48

when was when it was Wells Fargo found

26:50

it way back, right? Yeah,

26:52

1800s This

26:55

company that has so many problems

26:57

that has been the spotlight due to

26:59

their issues Must

27:02

have a lot had a lot more Going

27:06

on with down

27:08

down to the depths of their Branches,

27:11

I mean from top to bottom that

27:13

they could have these these many problems Is

27:17

it that was somewhat baffling

27:19

and it's still popular with the public this bank

27:21

it is I Went

27:24

to a branch recently because I had we do have

27:26

a loan with them on some

27:28

circumstance and the place is

27:30

packed Nearby

27:33

branch packed Intel

27:38

got some money the Biden Harris

27:40

administration announced today get that see that

27:42

see how that goes the Biden Harris

27:44

administration Yeah, Biden Harris you doing it yourself. Well,

27:46

that's yeah, that's what that's up. This is what

27:48

the news item was announced today

27:50

that the Intel

27:53

corporation has been watered up to award

27:55

up to three billion dollars in direct

27:58

funding under the chips and Science

28:00

Act for the secure Enclave

28:02

program the program is designed to

28:06

expand the trusted manufacturing

28:08

of leading edge semiconductor in the

28:10

US for the US

28:12

government now the the this Enclave

28:14

program Does

28:18

all sorts of things but they're basically I

28:21

see it as a rescue package for

28:23

Intel Well,

28:26

I have a question for you Mm-hmm.

28:29

If you recall it was a either a

28:31

week ago or maybe two weeks ago or

28:33

some within recent memory Intel

28:36

had suggested to its investors

28:39

that it might be getting out of the fab

28:41

business and the stock went up. I Guess

28:45

they're trying to you know one of these if

28:47

they shed some of the Items,

28:50

it's like it's like certain restaurants. They're gonna

28:52

close on a Sunday. Well, that's good because

28:54

you know Even though they make money

28:58

You know the cost factors the overhead Yeah,

29:01

I understand all that But if they're good but but

29:03

when you say you're getting out of the fab business

29:05

This means you don't want to make these chips because

29:07

there's other people that can do it more efficiently And

29:11

you can just make money on the intellectual property,

29:13

which is a way to go It looks like

29:15

if you look at other companies that do that

29:18

They're all beaten Intel up. I

29:21

mean Nvidia doesn't make chips and

29:24

and for example

29:27

they have a made for them and So

29:31

Intel makes this suggestion the stock goes up

29:33

and how does that jive with this? And

29:37

the the new Additional

29:40

announcement that Intel is gonna

29:42

be working with Amazon on specific

29:46

chips just for Amazon So

29:49

what do you have there? Otherwise you

29:51

would have gone to ARM right because they're they're a

29:53

fabulous Yeah,

29:56

they're just a RM is designed. That's

29:59

their kind of their whole

30:01

model is alien to everything Intel

30:03

does. And Intel, you know,

30:06

yeah, they'll design a chip in the ARM,

30:09

they would, the engineers at Amazon would

30:14

design a chip specifically very proprietary the way

30:17

they do at Apple. This

30:20

whole business, this $3 billion looks like a boondoggle. Well,

30:26

it's not- I don't think Intel wants to make

30:28

chips. Although I

30:30

have to say this, there was some thought in

30:32

the gossips, Silicon Valley gossip

30:35

about Intel continuing to

30:37

fab out chips,

30:40

but start to make the chips for

30:42

Nvidia. Really?

30:45

Yeah, there was a rumor going around that it

30:48

keep an eye on Intel because it's gonna kind of

30:51

push their own chips out of the way so they

30:53

can make these super expensive chips for Nvidia and I

30:56

guess get a piece of the action. I don't know

30:58

how that works, but that was a rumor. Something's

31:03

crazy and this $3 billion just kind of

31:05

mooks things up. I don't know. I

31:07

don't think this is the only, I don't

31:09

think there's, I think Intel has gotten more money. It's

31:12

not the only chips act

31:14

that they got money from. Yeah,

31:18

they're getting free government money for some

31:21

reason. Is it free? I mean, or

31:23

is it just a very screwy situation? I'm sorry.

31:26

Very, I don't

31:28

know if it's free. I think it's just very cheap. So

31:34

let's talk about Apple. They said the

31:36

next upgrade cycle is gonna be huge. That's what

31:38

they said, didn't they? They

31:41

said the- Oh, so it's generational. Yeah,

31:43

generational cycle. That's what they said. Monday

31:46

update, Apple down 3%. Exhibiting

31:49

weakness because after an estimated pre-orders

31:51

for the new iPhone reflects softer

31:53

than anticipated demand Apple unveiled its

31:55

latest iPhone models last week, including

31:57

the iPhone 16, the iPhone. 16

32:00

Pro, the iPhone 16 Pro Max, and

32:04

all of a sudden, all of a sudden, while

32:07

I have a new iOS, the iOS 18, and

32:09

all this is going on, and you know,

32:12

you can do some fun things with photos

32:14

and easier to find

32:16

special moments and enhancements to messages

32:18

and mail and well,

32:22

and next month, next month iOS

32:25

18 will introduce Apple Intelligence, the personal

32:27

intelligence system that combines the power of

32:29

generative models with personal context deliver blah

32:31

blah blah blah blah blah. Bottom

32:35

line is that they're already cutting

32:37

down prices in China, already

32:39

cutting prices. Chinese

32:42

distributors of you know, or Apple,

32:45

and those other distributors are actually taking

32:47

less money already because the sales

32:50

are lagging. So

32:53

Apple is down. It's not exciting. Apple

32:58

coming out and saying, hey, this is exciting, doesn't

33:02

mean it's exciting. No,

33:04

it's Apple's exciting is vanilla.

33:08

We're coming out with a new flavor of vanilla. We're

33:11

having vanilla plus. That's

33:14

about it. Yeah.

33:18

And then they're also sidetracked. They're not keeping their eye

33:20

on the ball with this Apple

33:22

network that they've got this entertainment network.

33:24

I think I won a couple of

33:27

Emmys, Apple TV

33:29

plus or whatever. I don't even know

33:31

what it is. That

33:35

can't be a good use of their

33:37

time and effort and money. Well,

33:39

everybody has to have a network though.

33:42

This is part of the game. You

33:44

wouldn't be anything if you didn't have a streaming network. We

33:49

need all we do have one. It's called

33:51

No Agenda Stream. Yeah. Former

33:54

president Donald Trump on Monday

33:56

has announced the launch of

33:58

the new cryptocurrency project. that'll be led

34:01

by his two eldest sons. It's going

34:03

to be called World Liberty Financial. Kind

34:05

of reminds me of those late night

34:07

silver salesman on TV. Going

34:09

to be unveiled on X

34:11

spaces. They're embracing the future of

34:13

crypto and leaving the slow and

34:16

outdated big banks behind, Trump said,

34:19

which I find amazing. I

34:22

find it to be ludicrous. They want

34:27

someone running to be President of the United States belittling

34:32

the banking system. I

34:36

know. It's just ridiculous. I don't get it.

34:41

Not to mention what

34:43

he relies so heavily on to fund his various

34:46

real estate endeavors. Yeah.

34:49

And they've had a good relationship. Maybe it

34:51

had something to do with that New York

34:53

case where the banks didn't come to his

34:55

rescue. I think

34:57

somebody brought this and said, hey, there's a great

35:00

idea to make money. The

35:02

bottom line is when you look at the white

35:04

paper that describes the project, Trump's

35:08

18 year old son, Barron, is listed as

35:10

the project's D5 visionary.

35:14

Oh, really? Yeah. Yep.

35:19

So there you are.

35:22

Now, here's the issue that I've been talking about for years.

35:24

You know, people ask me, you know, hey, you ever

35:26

get your DNA done? I'm like, no, I have

35:29

a lot of reasons. You don't want to know all the reasons, but I'm not doing it. Some

35:33

are a little twisted. I'll give you that. Some

35:35

are more reasonable, but either way, I'm not doing it.

35:38

Here's the issue. Genetic testing

35:40

company 23andMe, which is the company that everybody

35:43

said, oh, let's get, I want to find

35:45

out if I'm one eighth German shepherd or

35:47

whatever they want to find out. Yes. You

35:49

know, whatever it is. Right. Yeah. So I

35:51

know people have done all this and they,

35:55

it's kind of a topic of conversation at one

35:57

dinner party and then it's who

35:59

cares. Well,

36:01

what's happened? I'm Ashkenazi. Yeah, I'm

36:03

Ashkenazi. I'm Sephardic. Now,

36:07

the class action lawsuit for them customers impacted a

36:09

2023 data breach. Remember

36:11

that? Hackers access the

36:13

potential personal data

36:15

of millions of users on the platform. The

36:19

complaint accused 23 and me of failing to adequately

36:21

protect users' information. See that's the problem. You have

36:23

this company that could do this stuff, but they

36:25

never thought, well, who would steal this information? One

36:29

of the reasons that, again, I'm not doing this because

36:31

now you stole it. So

36:36

the one thing I'm going to tell you, anybody

36:38

that has in the past used 23 and me, you

36:40

could go there and

36:42

get a potential payout if

36:45

you use the service and you qualify. Really?

36:49

Yeah. What's the payout? It's probably nothing. Remember

36:52

that time that there was the big breach of,

36:55

what was it, credit card company or Equifax? I

36:58

think I got $14. Well,

37:01

it's $14. It's a bottle of

37:03

wine. Yeah. So go

37:06

over to 23andMe. Go

37:09

look up 23andMe class action lawsuit if

37:12

you did have it done. And

37:15

there's no way to protect your data anymore.

37:17

It's clearly going to

37:20

be on the black market, on

37:22

the dark web. So

37:26

let's skip over to Boeing. Boeing workers are

37:28

pissed off. They're just aggravated, angry,

37:30

and they're not going to take it anymore.

37:33

Boeing's new CEO moved into

37:36

his new Seattle home. You

37:39

know, the new guy came on about a month ago.

37:41

His name's CEO. The

37:44

new home cost about $4.1 million. 4,100

37:48

square feet sits on 9,200 square feet lot, which

37:50

is not a lot if you think about it.

37:53

You got a lot that's double the size of the house. That's not

37:55

a lot of it. How many million did

37:57

it cost? It's

38:00

not too bad considering the square footage.

38:02

Exactly. Yeah. And he's

38:04

a CEO of Boeing. Yeah.

38:07

So this is, you know. I think that's reasonable.

38:09

Right. In the West Coast prices.

38:11

Right, but the factory workers that are striking

38:14

are awfully pissed off. And

38:17

I look at all this. If

38:19

he can buy that kind of house, then they can pony

38:21

up the money to pay the increased wages. I

38:23

like to pay cash for it. Who knows who he

38:25

paid for it. You're going to get my wallet out. He may

38:28

have. I like me.

38:30

I'm going to else. Point

38:32

is he can afford it. And

38:34

the striking workers that are looking for

38:36

pay wage increases in the amount of

38:38

40% over a

38:40

number of years saying the

38:42

hell with this, we're not going to cut

38:45

loose for 25% if

38:47

the CEO is buying a house for $4.1 million. In

38:54

response to this

38:56

whole strike is freezing hiring and weighing

38:58

temporary furloughs to cut costs as the

39:01

strike by more than 30,000 workers

39:03

entered fourth day on Monday. That was yesterday.

39:05

Today was the fifth day. So. I

39:10

should have done a different kind of a deal

39:12

and done a

39:14

lease back to himself in

39:17

some awkward way. So it was some

39:19

one of those financial trickery deals. And he'd say, I'd never put

39:21

a nickel. I got nothing to do with this house. I'm leasing

39:23

it. For

39:25

myself. Yeah. I

39:28

don't know the whole thing. This is the

39:30

the Wall Street sit in this kind of concept,

39:32

right? You know, all the man's always

39:34

making out on us and we're getting screwed and all that. And

39:36

I don't know what they want. I don't know what anybody wants.

39:38

I mean, I get it. I get it. I

39:41

get it. You know, if you want to pay increase, they haven't had a pay increase in years.

39:44

They're entitled to I get it all. But

39:47

this whole thing of trying to compare to a

39:50

new CEO who hopefully is going to fix a lot of the

39:52

problems with his company. What are

39:54

you getting? What are you getting the whole thing? What are you getting

39:56

so aggravated about? Maybe

39:58

I'll do some good. Depot being ordered

40:00

to pay $2 million to settle a

40:03

civil claim from California I.A. That

40:06

the company overcharge customers for products.

40:09

No, don't say so. Home Depot?

40:12

Can I tell you I bought paint today? I

40:14

was just telling you about paint. Bought paint, I think

40:16

three gallons. Okay. Three

40:19

gallons and a few other things. What do you think the total was? Three

40:22

gallons of paint in today's market probably about

40:24

a hundred bucks. Well, it was $200 total.

40:28

Holy mackerel. It was three gallons. It

40:30

was some paint brushes too. That's 60

40:32

bucks. $65, $66 a gallon. Yeah.

40:36

It's really good paint. I think I'll bet it be. I

40:38

think it's bulletproof or something solid gold. I think so.

40:40

I think it's I think it's going to last like

40:42

25 years or something. Sure. Bulletproof

40:45

and I think it says her right on the side

40:47

hurricane proof to or something to. Hurricane

40:50

proof paint. I think yeah. Yeah. I'm

40:53

in. Home

40:55

Depot is according to Los Angeles County

40:57

District Attorney. George Jessica

40:59

own the retail allegedly engaged in

41:01

false advertising and unfair competition because

41:03

of charged customers price higher than

41:06

the lowest advertised or posted prices.

41:09

It's known as scanner violation. You

41:11

ever hear that scanner violation occurs

41:14

when the price of the item or

41:16

on the item shelf tag does not

41:18

match the universal product code to scan

41:20

to the point of sale device. How

41:23

does how does how does this become a scam?

41:29

They put the price up with the code

41:31

on the on the

41:33

shelf. But when you actually scan

41:36

it at the register is like 30

41:38

cents higher. This

41:41

is sort of thing has been going

41:43

on for my entire life. Miss

41:48

you know, will ever says scanners came in

41:50

they don't get the codes back in the

41:52

machine correctly and the you got come up

41:54

to the counter and they give you it's

41:56

the wrong number. You tell Mr. Wrong number

41:58

and they give it to you free. In

42:01

California. You give it to free. Well,

42:03

otherwise you just walk out with it and they're not going to

42:05

stop you anyway. Well, yeah, in

42:07

California. Yeah. Right?

42:11

You have Aldi out there? No.

42:15

Well, you may soon have it.

42:17

Discount grosser Aldi is boosting its

42:19

staff for the holiday season with plans to increase more

42:22

than 13,000 stores and warehouse workers.

42:25

Along with that, they're going to be boosting its

42:28

workforce. Along with that, they're going to announce

42:30

that it will continue adding new stores

42:32

across the US while it simultaneously prepares

42:34

for the busy shopping period. So

42:37

to entice applicants, the company also announced

42:39

it's raising the national average hourly pay

42:42

too. Now here's my question. It's

42:46

a grocery store. We agree with that. Yes.

42:51

Are people buying baked beans as gifts or something

42:53

for the holiday season? My wife

42:55

does. She

42:57

buys baked beans. What the hell?

43:00

You'll buy a can of this or that

43:03

and put it in the stockings, the Christmas

43:05

stockings. You think that warrants the increase of

43:07

13,000 store and warehouse workers? No. I'll

43:10

tell you what they're doing. She's the only one

43:12

I know that would buy a can of beans

43:14

for the holiday season. Does she really buy beans? I

43:16

was just picking up that as a... No, it could

43:19

be beans. It could be anything. I mean, she'll

43:21

see something in a can. Can the surrogates or

43:23

something? Can goods that she thinks should go into a

43:25

stocking. That sounds like

43:27

coal. People give a chunk of coal in the

43:30

stocking. If I

43:32

got up from your wife... She's playful. She's

43:34

playful. She may put tuna fish in there. Can tuna

43:36

fish. You don't know. Sardines.

43:39

Sardines. Well, I

43:42

think this sounds really great for the holiday season,

43:44

but the truth is they've been working on expanding

43:46

the footprint of their

43:48

stores. They're building tons of stores. So

43:50

this 13,000 store warehouse workers, I

43:52

think is really what they were

43:55

doing anyway, but they packaged it up

43:57

to make it look like it was something

43:59

nice they were doing. Oh,

44:02

you just think it's just you think there's a

44:04

scam here. Yeah, publicity scam. You

44:06

would say it's bogus.

44:08

I would say it's bullshit. Yeah,

44:12

so I'd say bullshit too. In

44:14

the M&A area, buyout firms, Vista

44:17

Equity Partners and Blackstone are

44:19

an advanced talks to acquire Smartsheet, an

44:22

a deal that could value the collaborative

44:24

software maker to close to 8 billion. I

44:27

always knew this company was going to be,

44:29

this is not long for staying public forever.

44:32

I thought actually Microsoft was going to buy it when

44:34

I saw it because it was a nice enhancement to

44:36

Excel, but I figured why would they do that? Because

44:40

whatever. But what's interesting is Smartsheet is trading at I

44:42

think, I don't know, like 54 bucks a share and

44:44

they're only offering about 56. So

44:47

I don't know, I guess Smartsheet

44:50

needs to get out of the standalone business. Do

44:54

you know about this company, what they do with Smartsheet?

44:56

Yeah, I kind of know what they do. I've never

44:58

seen their products. I

45:02

think it's just sort of group

45:04

where. Yeah, managed calendars, track projects,

45:07

assigned tasks, shared documents, manage

45:09

other work. Isn't there like a bunch of

45:11

free software that does this? There's a couple

45:13

of them. I mean, I used to use,

45:17

it begins with an A. Yeah, there's

45:20

another one that's out. Asana, Asana was

45:22

great. I actually paid for it for a while, though

45:24

it was pretty cool. You could do also,

45:26

it's easy tracking instead of, instead

45:29

of sending emails back and forth or even using Slack

45:33

or any other kind

45:35

of messaging system, it just makes, it just

45:37

keeps it really nicely organized. But

45:41

how difficult is that? It

45:45

shouldn't be at all. The computers

45:47

are four. Yep, exactly. Banks stress

45:49

tests all passed with flying collars, even

45:51

Wells Fargo. Largest US banks said

45:53

on a Friday evening that they would increase payouts to

45:56

investors and moves that were generally expected after lenders sailed

45:58

through the Federal Reserve's ship. stress test this

46:00

week. Firm's capital plans remain

46:02

closely watched. I think Bank of America

46:04

and a couple others are increasing their

46:06

dividends. Ah,

46:09

we have good news. Red

46:11

Lobster is exiting Chapter 11

46:13

bankruptcy. That was quick. The

46:17

Orlando, Florida based chain, which lost 76 million in

46:20

2023, shouted dozens

46:23

of its North American restaurants over recent months.

46:26

It's now an independent privately held company with 545 restaurant locations

46:28

in 44 states and four Canadian

46:33

provinces. Ah,

46:35

so they want to do an IPO of again.

46:37

Of course. They screwed everybody on

46:39

the death side. Yeah.

46:42

They screwed their shareholders. Yeah.

46:45

Reestablished, got rid of, got lean

46:47

again. They'll borrow more money from,

46:49

you know, these banks and

46:52

they'll IPO and well in 10 years

46:54

we'll have another, you know, shrimp

46:56

scam. Yeah.

46:59

Interesting. It's a rinse

47:01

and repeat. I've never done business with them.

47:03

Yeah. Wi-Fi in the air.

47:05

United Airlines will start testing Starlink satellite

47:08

Wi-Fi on its flights early

47:10

next year. SpaceX has previously signed

47:12

deals with Hawaiian Airlines and semi-private

47:14

airline JSX, whoever they are. Delta

47:17

and other carriers will be investing in

47:19

faster in-flight Wi-Fi and offering

47:22

it for free for

47:24

some of his, you know, his members. Um,

47:28

so hundreds of jetliners, biggest

47:30

in-flight internet deal yet for the

47:33

satellite service provider. Until

47:37

we start getting some of those

47:39

satellites plucked out of space or banging into each other.

47:42

There's too much junk up there. Pretty cool.

47:44

A lot of junk. Pretty cool. I know some people that have

47:47

Starlink on their boats. It's not

47:49

very expensive and it works like a charm. Yeah.

47:53

The Starlink technology,

47:56

people should look into it. It

47:58

is fascinating. It's like, like a

48:00

satellite mesh, right?

48:03

Well, it's not really even that.

48:06

The satellites are moving. There's

48:10

no stationary satellites involved.

48:13

They're moving around and it's

48:15

the antenna

48:17

technology, which actually

48:19

tracks the moving satellites. As

48:22

they move in, it jumps from satellite to

48:24

satellite. It's like, it's

48:26

hard to explain, but

48:29

the graphics

48:31

that you'll see in an elaborate

48:33

explanation makes you want, it just

48:35

looks like something that came from

48:38

Mars. I don't

48:40

know where this, who did this

48:42

originally, how Musk ever discovered it.

48:45

It's not his idea. I

48:48

mean, it's his idea to do it, but

48:50

it's not, the technology is definitely not his.

48:52

It's somebody else's or someone's. It's

48:55

fascinating. Yeah, good

48:57

job, good work, another shout

49:00

out to Elon. Elon

49:02

made it happen. Here's something that may or

49:05

may not be a concern of yours. Hundreds

49:07

of handheld pagers exploded near

49:09

simultaneously across Lebanon and parts of Syria. Now

49:11

the latest story I heard, do you

49:14

think this is true? It's

49:17

doable. It seemed like they

49:19

were bought from, what

49:22

did they say, was it Taiwan? Somewhere

49:25

these pages were bought and

49:27

they had some kind of, I don't

49:29

know why, in a pager you'd have

49:31

a detonation sequence. I

49:34

don't know, it's like buying

49:36

a toothbrush and having it, oh, I'd like the exploding

49:38

toothbrush, please. That can happen at any given time. I

49:43

don't understand. So now you have to

49:45

wonder if Israel

49:48

was behind this. You think that might

49:50

be? No, no, but here's my point,

49:52

I'm assuming. I think everybody agrees with

49:54

this, that Israel has appeared to, in

49:57

this sophisticated attack, that blew up, I don't

49:59

think it killed. anybody but a bunch of

50:01

you got 11 supposedly 11 people right

50:03

Wow it's supposed to be all Hamas

50:06

on this pager network Hezbollah I'm Hezbollah

50:08

sorry I'm sorry here's

50:12

the question how

50:14

are we gonna allow any electronics on a plane after

50:16

this if they could be remotely detonated that's

50:22

a good one

50:24

yeah if you can have a device

50:26

that has some kind of a something I don't know what's

50:28

going on about whatever the hell's going on that

50:31

could in fact be either

50:33

hacked or that

50:35

has the ability to do so I

50:38

mean there wasn't like a little piece of C4 inside these

50:41

things it was something about what the batteries and all that right I don't

50:44

know I don't know what they were how it was

50:46

working I do know this this is an anecdote back

50:49

in the late when the first cell phone

50:52

started to come out remember during the era

50:54

of the Motorola StarTac yeah during

50:57

that era one of the cell phone

51:00

manufacturers or someone

51:03

some big shot had made a

51:05

comment that if they wanted to

51:07

they could put semtech

51:09

or some small explosive in a cell

51:11

phone and give it to some

51:15

gangsters some gang bangers

51:17

in Detroit I think it was

51:19

specific to Detroit and blow

51:21

their heads off when they want needed to Wow

51:24

and this was like in

51:26

the late 80s or early 90s I can't remember

51:28

exactly when this and I always stuck with me

51:30

that that's an interesting idea and of course they

51:32

never did that but now a guy but there

51:35

you go yeah it's to

51:37

be the same thing right it's like

51:39

a was gonna get a brain implant that blows whenever

51:41

they want you to take him out

51:43

yeah which is part of the movie

51:46

Kingsman I believe yeah exactly egg

51:49

prices on the rise again Cal main is comes

51:51

up with a good earnings on an outlook that

51:53

eggs are gonna continue rising prices 50% increase in

51:57

the prices over the last year I put a link to

52:00

a chart that you can see if you're

52:02

interested in egg prices because we know John

52:04

your lovely wife is

52:06

very interested in egg prices. Yes,

52:10

he prefers lower egg prices so you

52:12

get too many eggs and you go

52:14

to too many eggs.com and get a

52:16

free pdf or you can buy a

52:18

giant cookbook at that location.

52:21

I highly recommend for

52:23

a if nothing else a

52:25

coffee table piece. Oh this

52:28

is a good Christmas gift. Yeah much better

52:30

than a can of beans. It really

52:32

is. All right in closing on

52:34

this segment of the show

52:40

what's our bet what's your bet on the Fed rate decision

52:42

tomorrow? I'll give you three. Zero,

52:45

cut of 25 base points, cut of 50 base points.

52:48

Well I'm hoping it's zero but I'm predicting 25. All

52:52

right I would say

52:54

that market

52:57

expectation is for 50. I

52:59

just don't know if the Fed wants to do that right

53:02

before the election. Yeah I find it'd be that

53:04

would be horrible. Yeah right before an election with

53:06

all the data we have right now and

53:09

just from a true

53:11

data standpoint I think

53:13

25 is going to be and then he

53:15

could talk it up. So if you do 50

53:17

you can't talk it down right. You know if you

53:20

get 25 you can talk about the well. Yeah 25 you know it's not

53:22

not going to change much. Right exactly

53:29

exactly. This is a

53:31

game that we play it's not a solicitation to buy

53:33

or sell any security it's not a recommendation of any

53:35

kind. Nothing on the show should be considered investment advice

53:37

or a recommendation. If you choose to

53:39

invest in any of the stocks mentioned you should

53:42

know that it may carry risk along with the

53:44

risk of a loss of principle. You should also

53:46

seek out professional financial advice for your particular situation.

53:48

We assume no risk because these are not to

53:50

be considered recommendations. Horowitz Company myself or John C.

53:52

Dvorak may invest in any of the securities mentioned

53:55

and we'll disclose that on the website under the

53:57

weekly stock picks section. You can go to dhmplug.com

54:00

and see all the names we discussed in

54:02

the segment, along with the performance information from

54:04

the date discussed, as well as any additional

54:06

important disclosures. We

54:10

got one thing that was blown out, Carvana. Good thing it was blown

54:12

out, because it kept going up for, I guess 158 today. Yeah,

54:15

that was your short, I think. Terrible,

54:18

that's terrible. It looked

54:20

like it did a vertical vote. I forgot what your rationale

54:22

was. It was a dumb idea to do so, is what my

54:24

rationale was. But I thought that the

54:27

used car market was going to cool

54:30

off a little bit, and Carvana was just

54:32

on a tear, and it looked like it

54:34

was technically stuttering and stalling out. So, let's

54:36

have another 2% again today. But

54:39

your third try is a good after bad, putting

54:44

money back into rig. Finally, when

54:47

oil bottomed, I mean, you're 15% in the last week. Yeah,

54:51

that was a good pick. Yeah. Walmart

54:53

was down 2.5% today, by the way. That

54:55

was your short last week, you're flat on that position. But

54:59

we had a lot of green otherwise. Yeah,

55:01

I know. You want me to

55:03

point out. No, no, no, no, not for

55:05

me. Not for me, for our listeners. Shark

55:09

Ninja, which is

55:11

the, of all the years

55:13

we've been doing this show, because of the

55:15

nature of these picks and the fact that they

55:17

get kicked off in, there's a whipsaw. When

55:20

some action happens, the market does something

55:22

crazy for 10 minutes, they only have

55:24

to start to get kicked off based

55:26

on the model. But

55:28

yet, despite that possibility,

55:30

Shark Ninja, which you picked back

55:32

in, reasonably

55:35

not too long ago, 11-22-23, you

55:39

picked it, it's up 125%. Yeah.

55:45

That's a Shark Ninja for you. It

55:47

was the first one that break the 100% barrier and

55:50

it's still going. We've had one or two others that broke

55:52

the 100%, but yeah. Yeah,

55:55

but this thing is on a roll. Yeah. Not

55:57

in this short period. I agree. I

56:00

agree. I was looking down a list if I could find the other

56:02

one. Yeah,

56:04

I'll see it. All right. What

56:06

names do you have, if any, for this week? I got

56:08

nothing this week. I have nothing this week either. I'm doing

56:11

it on purpose because I don't want to get tossed

56:13

and turned with regard to...

56:17

Yeah, the rate cut. The rate cut or whatever's going to happen

56:19

here. This makes no sense trying to get ahead of it. As

56:22

a matter of fact, we have loads of money to

56:24

put to work for clients that we're

56:26

holding off because we

56:28

want to kind of see how this plays out. And even if

56:30

it goes up a little bit from here, it's

56:33

not necessary. All right. Well, then

56:35

we'll end on that note, I guess. Anything else that you want to bring

56:37

up? No, I'm good. You're good.

56:39

All right. We'll see you again next week. Okay.

56:41

All right. Bye-bye. You've

56:43

been listening in on a conversation with

56:46

John C. Dvorak and Andrew Horowitz. Hope

56:48

to be with you again soon. Bye-bye. Now,

56:52

I'm not broke, but badly bent. I'm

56:54

not down to my last cent, because

56:56

I got a dollar, but it's my

56:58

last dollar bill. Yes, sir.

57:00

In my pocket stands a debt. All

57:03

my dough is nearly spent, but I got

57:05

a dollar, and it's my last dollar bill.

57:09

Oh, I'd love just one more buck

57:11

fortune left me by chance. Now,

57:13

here's a hint. I feel like a

57:15

myth. You can hardly tell by a

57:17

glance. I don't care. No millionaire can

57:20

give me the ice's stack, because I

57:22

got a dollar, my last dollar bill.