Investor's Edge with Gary Kaltbaum - 50 days to election [09.16.2024]
Episode Date: September 16, 2024https://garykaltbaum.com/...
Transcript
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Investors Edge with Gary Coltbaum.
Straight talk about you and your money.
Now from the BizTalk Studios, here is Gary Cultbaum.
And welcome once again to Investors Edge.
I'm Gary Coltbaum, your host.
A thanks of being with us today.
Glad you here, ladies and gentlemen, happy that you are listening.
Monday, September 16th, 2004.
Hope you had a good weekend.
I was in New York.
father in the hospital, two broken ribs.
Well, they say broken.
I think he's okay, but 92 years old.
I hung out with him 18 hours and two days, came back.
My wife's going there in the morning for the rest of the week.
I'll fly back later in the week unless need be.
I'll go there in a nanosecond.
Mom is home, has the 24-7 help.
It's
everything I received from each and every one of you that have gone through this is exactly what the family is going through.
And the hope is he's going to be 93, October 20th.
My mom is 91.
We think about, wow, what a miracle to live that long.
When their friends and relatives have been gone, most of them, a very long time.
On the other end, though, very tough to watch and see the frustration on their part, the inability to do things that were normal for them.
and it is such, I think you all get it when I say an emotional adjustment, but when all is said and done, our only thought as family is to let them or help them live life as well as can be.
and I think we are doing that job, but it's still not easy.
And of course, my father and I watched the Giants play Washington yesterday,
which made the day even worse.
But I digress.
Again, hope you had a good weekend.
In case you don't know, this is Investor's Ed.
Serious talk on everything that matters to you.
We should change the name of the show to Investors in Politics Edge, because right now we have to do the election in a very big way.
And if you do not get this radio show in your city, we'll post it at garyk.com.
We'll also post it on our Twitter feed, which is now X.
And if you don't follow us on X, you should.
And if you'd like to email us, just be nice because we'll be nice back.
That's all.
You can disagree with us 100%.
We can disagree with you 100%.
but, you know, no need to fight.
And again, serious talk.
We'll do the elections.
Their policies.
Last month, I wish I was making this up.
We sent our government $308 billion.
$307.
I'm off by one.
They spent $68 billion.
Do you know why they're doing that now?
Why they've amped it up, $381 billion deficit last month.
for the economy. So the scam by this government continues, I'd say it to their face, done on purpose.
I don't even know where to begin. But we do begin with another assassination attempt.
And as you know, we don't pull any punches here. We wish there were two other people running for the presidency.
we believe that Kamala Harris is a made-up character now, changing her whole life story,
her whole policy beings in order to win an election.
Bernie Sanders by accident let that out of the bag, but we already knew that.
When you hear the words flip-flop, she has taken flip-flopping to championship levels.
I believe, and we don't use this as a pejorative word, Marxist.
Marxism economically is just what I call control freakism.
We've been telling you forever they do it with rules, regulations, fees, fines, mandates, taxes, and now giveaways.
When it comes to Trump, we have been telling you, we just can't, we just don't think he's presidential.
We need presidential with some of his policies.
I think he's too chaotic.
He's proven that time and time again.
But what I want to really discuss is the BS.
There was another assassination attempt.
And what BS am I talking about is the media.
We just call him here the joke.
They're really not media.
They're basically part of the Democratic National Committee.
amazingly, here is this man Donald Trump, faults in all.
And may I state for the record, we think there's a plenty.
A lot of things that he has said, the people he hangs around with, on policies, we don't
like his debt and deficits in spending, we don't like tariffs, we love the tax cuts, we
love his backing of Israel and Jews, then he goes and says, if you don't vote for him, you're not a good Jew, you get my point. A little back and forth. There are people that blame him on COVID for the way he handles it. We don't. We think COVID was a variable. Changing every day. People were dying every day. Decisions had to be made on the run. I know there's people that.
blame Fauci. We don't blame Fauci. We blame COVID. People were dying left and right. But nowhere in this,
I don't care what's said, what's done is somebody wanting to commit murder. And we had another schmuck
wanting to commit murder. And when I talk about the media, all I heard from the media
upon the assassination attempt, it was Trump's fault. It's his rhetoric.
That caused it.
It incited this man.
He's not a man, he's an animal.
And I'm thinking to myself, and by the way, this all matters because this all leads to the elections.
And this election is going to be about whether somebody's going to raise our taxes, $5,6, $7 trillion.
More rules, regulations, fees, fines, mandates, mallets over our head, and machetes cutting off us, cutting our,
Our knees out.
It's Trump's fault that somebody try to murder him?
That's the media.
And of course, they never say it that way, but they say it.
Go look at the dude on NBC.
I forgot his name.
Let me be clear about a couple of things on rhetoric.
I have watched since Trump became a candidate, do you know what they've said about him?
Do you know what they've called him?
Rhetoric?
They've been saying,
in the last few years that he's Hitler. He's Mussolini. He's Pol Potts. He's getting paid off by Putin.
End of democracy. Destroy the country. Destroy all our dreams. And I can sit here for an hour
about what they've been, what they're saying. The Democrats are out there saying, no, we're good.
Do you know they did the same thing to Romney? They did the same thing to Bush. Remember,
what they did to Palin. They've been doing it forever. Yet the media's out protecting them
on their rhetoric, but it's of course it's the other persons. I must tell you, it's quite amazing
to watch. And just remember, all of this is in plain sight what they say about him. You know,
you've had a couple of congressmen saying, destroy, get rid of. You know, little work. You know,
little words like that.
Yet it's Trump that
caused somebody to try and murder
them. Interesting.
So just letting you know
it's game on again.
Back in the last election
with Biden, the media
blacked out Hunter Biden and his
criminality and the Biden family's
crimes, which they'll never
nothing will ever happen to them.
Taken in what, $25 million
of just
influenced peddling
jackassery. The news reports 90% negative on Trump, 90% positive on Biden. They're doing the same thing
now with Harris and Trump. Up next, we'll put a little bow tie on it, get to the market. It's got lots
of things to say on the markets. I'm Gary. This is the one only investors edge.
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Hi, I'm Dr. Jake Goodman, host of Beyond the Script,
the podcast where I sit down with pharmacists to answer the health questions
you didn't even know you could ask at the pharmacy counter.
In this episode, we are diving into gut health with CVS pharmacist Victoria Motola,
who explains why so many of us live with stomach issues we should not accept as normal.
A lot of what I see is just like chronic bloating, chronic stomach aches.
Like I get a stomach ache every time that I eat.
And it just becomes like a lifestyle where, oh, yeah, you know, I just have a stomachache every day.
or I'm constantly feeling like gassy.
And all of those things are not something that generally,
if you have a healthy gut, you should be living with.
So that's when we deep dive.
We deep dive into your medication.
We deep dive into your OTC medication.
And then at that point, we can probably identify something that we can change.
Hear the full conversation, plus some fascinating facts about how gut health affects
so much more than just your stomach on Beyond the Script,
a podcast from CVS Pharmacy and IHeart Radio.
Listen now wherever you get your podcasts.
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It's time to switch on the integrator units and get the brain cells working.
You're listening to. Hey, this promises to be fun. Investors Edge. The last bastion of quality
programming with Gary Coltbaum. It doesn't get better than this. So let's put a bow tie on it.
You saw the debate. The moderators in plain sight knowing 50,
60 million people were watching said,
Screw it.
We're going to prosecute one and kiss the ass of the other.
That's what they did.
And they don't care.
You know why?
They don't get in trouble.
Who oversees them?
Who makes them accountable?
Nobody.
They have their own fiefdom.
They can do what they want.
They can say what they want and get away with it.
And for one certain party, it does not matter what they do.
that one certain party they can all be the antichrist they're untouchable unless you're really really really bad in plain sight like if you have a bunch of gold bars at your house like menendez or whatever his name was so we just let you know it's game on anybody on one side of the aisle is fighting not only a candidate but a whole media complex and let me repeat they're
They did it to Romney.
They love Romney now.
They did it to Cheney.
They love Cheney now.
They're talking nice about Cheney, who they called Darth Vader.
Remember how they treated Palin?
I thought women were supposed to be treated a certain way,
only if you're on one side.
So we're just letting you know.
And it's a shame because we hear this show.
We hold them all to account.
All of them.
And we'll continue.
As far as the assassination attempt, I have more questions.
The guy was supposedly now finding out that he cased the joint, the golf course.
For 12 hours?
They're supposed to have advanced teams.
Advanced teams.
Advanced teams.
What's going on?
I know they mean, well, I think they mean, well, I got.
to believe they mean well it's the secret service and as we're finding out one secret service person
saw the barrel of the rifle out of the shrubs it's so weird we still haven't got the answers on the
first assassination attempt which is doubly weird because the scumbag who's dead they had him
he was there he was cited and they did nothing and as you know i'm not a big conspiracy theorist
except jfk was murdered by more than one person just go look at the video they'll tell you
they tell you to look at the video but no don't believe what you see anyway we will get back on
policy big time tomorrow but wow interesting trump's reaction this was his reaction
when they took him away off from the golf course.
His first words,
I wanted to finish the hole.
Can't say he's not funny.
We move on.
A few things.
The markets.
The weakness for quite a while now
have been big tech.
Notice how we segue so easy.
And semiconductors.
We had another day today.
where the weakness was big tech and semiconductors.
When you see the numbers at the end of the day,
you will see the Dow up 228, the Dow 30.
You will see the NASDAQ down 91 and the semiconductors down 70,
which, by the way, was off the lows.
That continues.
If I had a dollar for every analyst,
in the last week, especially some fame ones, and we're not going to name names, because I must say they have done a yeoman's job.
No, look up the word yeoman.
Over the last so-and-so amount of time on big tech that had done so well, but it's not their time right now.
Apple, if I had a dollar for every one of them, excuse me, I should not cough into the mic.
If I had a dollar for each one that said Apple is going to blow the door.
doors off, blow the doors off on the new Apple iPhone 16.
And the reason they said that, oh, the AI, we said to you on this show, hmm, so they're telling us we can put the phone up to a restaurant and all of a sudden the menu comes up and the phone number and whatever.
and I'm thinking to myself, wait a minute.
I'm going to do that anyhow.
What's so good about that?
For example.
And of course there are other things,
maybe an improvement here, improvement there.
But I remember also the 5G,
oh, it's going to be a big upgrade cycle,
and it wasn't.
What I do believe, just so you know,
I don't even know which iPhone I have,
but I know I haven't gotten a new one
in a while.
My phone doesn't work as well anymore.
When I type something into a text and I try to send it, I have to shut down,
shut the screen off and bring it back up and then send it.
I think they do that on purpose, but I digress.
The pre-orders on the Apple new iPhone, less than expected.
Doesn't sound like a lot, but Apple was down 3% today.
3% for an Apple's a lot.
We'll see what tomorrow brings.
down on a little bit of volume today.
216. The high recently was 233.
Two weeks ago. The high was 237 in July.
And then there's the semi-conductors.
Just rough. Just rough.
Up next, we'll talk to semis.
But what be working?
I'm Gary. This is the one only investor's edge.
Hi, I'm Dr. J. Goodman, host of Beyond the Script.
The podcast where I sit down with pharmacists to answer the health questions you didn't
even know you could ask at the pharmacy counter.
In this episode, we are diving into gut health
with CVS pharmacist Victoria Motola,
who explains why so many of us live with stomach issues
we should not accept as normal.
A lot of what I see is just like chronic bloating,
chronic stomach aches.
Like I get a stomach ache every time that I eat
and it just becomes like a lifestyle where,
oh yeah, you know, I just have a stomachache every day.
Or I'm constantly feeling like gassy.
And all of those things are not something that generally, if you have a healthy gut, you should be living with.
So that's when we deep dive.
We deep dive into your medication.
We deep dive into your OTC medication.
And then at that point, we can probably identify something that we can change.
Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeartRadio.
Listen now wherever you get your podcasts.
When energy dips, your reviving routine deserves more than a quick fix.
Reach for Vital Proteins, Collagen and Protein Shake and Chocolate.
With 30 grams of protein and 10 grams of collagen peptides,
it helps support healthy hair, skin, nails, and joints in a smooth, ready-to-drink shake.
So your afternoon reset actually sets you up for success.
Vital Proteins. Stay Vital.
Visit VitalProtines.com to get started.
These statements have not been evaluated by the Food and Drug Administration.
These products are not intended to diagnose, treat, cure, or prevent any disease.
Cash flow crunch.
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You're listening to.
America is talking.
Investors Edge.
He's got to be pleased with that.
The crowd is just on his feet here.
He's a Cinderella boy.
With Gary Colbomb.
It comes highly recommended.
You're going to feel better if you talk to him.
And welcome once again to Investors Edge.
Thanks for being with us today.
Also be watching out for bad reactions to earnings.
Adobe down another 15 bucks today after gapping down on Friday.
But I will state for the record, strength, decent chart patterns have been working decently.
Things that have been breaking out, been working in the last couple of days.
They were not working before.
Last Wednesday, the market was sinking like a stone reversed and better.
And where is the leadership?
First off, we'll bore you to death.
Utilities.
Real estate investment trusts.
Insurance.
Financials, but not all.
Blackstone just broke out at 146.
It's already 154 in three days.
Their earnings and sales are way down year over year.
Market doesn't care.
Bank of New York near a new yearly high,
but J.P. Morgan and Goldman Sachs and Citigroup in Wells Fargoin Bank America are below the 50-day
move and average. So Mix Bag there. Economically sensitive names that were nice and tight, maybe looking
to break out, then break down, then reverse. Some of them starting to edge out of range.
We'll see if they stick. And what we mean by economically sensitive, ooh, when the economy's strong,
they really go. But also there's another part to that equation. When economic policy,
monetary policy is loose, they tend to work good. And the 10-year yield is now down to 3.62%.
Down from five. It was down again today. Good news. Not all, though. There's plenty weak. UPS,
economically sensitive, bare market.
For example.
And then we have the Fed on Wednesday.
So let me stop for a couple of minutes
and give you a real good explanation
because I don't think it is explained very well.
Our central bank, the all-important,
what they do is control something called Fed funds rates.
It is what banks and lenders deal with each other.
Banks back and forth.
Lend, deposit, and the like.
The free market, the bond market.
That's what traders, investors, speculators do based on what they believe.
We call it the smart money.
And they've been buying up bonds left and right.
when you buy up a bond
when you buy up a bond
yields come down
when you sell a bond yields go up
and in the case
of the 10 year yield
which is the most important because it is
attached
by the hip
to mortgages
other loans
car loans and the like
it's gone from 5 to 3.6
since last October and 4.7 to 3.6 since April.
The Fed has stuck at 5.5% and hasn't moved.
They're way behind.
And normally that would probably cause some problems.
When they were behind on inflation and stayed at 0%, they were at zero,
while interest rates went up,
they had to play catch up on raising rates and that hurt the market.
right now for whatever reason these lower rates the real rates are helping the market notwithstanding we had a meltdown and a mini meltdown last week
so the Fed on Wednesday is going to lower their rate everybody was thinking for a while it's five but now the thought of four and three quarters
we believe it'll be a half point to four and three quarters on the low end because the Fed what they do is they leak
what they do, they have favored media that leak.
And when they leak to these people, this part of the media will come out and won't say what the Fed said.
They'll say, we believe they're looking at a half point now.
We think they have leaked that.
We would now be surprised if they don't play catch up a little bit more with a half point
because yields are much lower than that.
we think also a chance because they're corrupt and we say that to their face.
A bunch of them resigned in the last few years because of insider trading violations that we'd go to jail for but they just,
they're bad ethics.
We believe there's a chance that they let some people in on it last week and that's what turned the market.
We'll know Wednesday.
we have no idea how the market reacts to whatever they do on Wednesday.
There is a component in our thought that maybe we get some sell the news
because it's the most anticipated rate cut in a very long time.
But we really don't know.
And as of today, they bought up again financials of different stripes,
economically sensitive, and the like,
and some housing,
all these areas that would get a benefit from lower rates.
Best way I can explain it.
Last week, the financials were trashed.
They bounced today.
As we get closer,
we hate the fact that we got to deal with this every, what, six weeks, right?
I think it's every six weeks.
If we became president of the United States,
I don't know if I had abolish them, but I change it to four times a year, if not get rid of them.
We don't think they provide anything that benefits anything.
All the talk that they're engineering the economy, they aren't engineering squat.
We are.
They're about as overrated as overrated can be in comparison to the free market.
the buying and selling of you and I and big institutions on to Wednesday we go.
But another good day for the lower beta, which is, we use the word boring, but there's nothing boring.
I mean, utilities are up 8% from the breakout, so is the REITs.
That's a good move.
I may have to delve into them one day.
while the semiconductors and a lot of tech don't do well.
Big changing of the guard.
And as I stated for you, economically sensitive.
The economy's not doing great, but the market will anticipate or telegraph or react in advance of.
And in case you don't know, monetary policy matters.
very much so so that'll be Wednesday we hate the fact we have to deal with it we don't
think he's bright we don't think he engineers anything we the people engineer everything
but he does matter he will not create a job not do anything for the economy with
whatever move he does we think the free market the real market's been doing the job he'll get
the credit for it, which nauseates the hell out of me when they've been wrong about everything,
but welcome to our world where you can fail and still be applauded.
Obviously not a football team like the Giants, because if you fail, well, you'll lose.
Up next, what else? The market and news. I'm Gary. This is the one only investor's edge.
Hi, I'm Dr. Jake Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists
to answer the health questions you didn't even know you could ask at the pharmacy counter.
In this episode, we are diving into gut health with CVS pharmacist Victoria Motola,
who explains why so many of us live with stomach issues we should not accept as normal.
A lot of what I see is just like chronic bloating, chronic stomach aches.
Like, I get a stomach ache every time that I eat.
And it just becomes like a lifestyle where, oh, yeah, you know, I just have a stomach
egg every day.
Or I'm constantly feeling like gassy.
And all of those things are not something that generally, if you have a healthy gut, you
should be living with.
So that's when we deep dive.
We deep dive into your medication.
We deep dive into your OTC medication.
And then at that point, we can probably identify something that we can change.
Hear the full conversation, plus some fascinating facts about how gut
health affects so much more than just your stomach on Beyond the Script, a podcast from
CVS Pharmacy and IHeart Radio. Listen now wherever you get your podcasts.
When energy dips, your reviving routine deserves more than a quick fix. Reach for vital
proteins, collagen and protein shake and chocolate with 30 grams of protein and 10 grams of collagen
peptides. It helps support healthy hair, skin, nails, and joints in a smooth, ready-to-drink shake,
so your afternoon reset actually sets you up for success.
Vital Proteins. Stay vital. Visit VitalProtene's.com to get started.
These statements have not been evaluated by the Food and Drug Administration. These products are
not intended to diagnose, treat, cure, or prevent any disease.
Cashflow crunch? On-Dex small business line of credit gives your business immediate access to funds
up to $200,000 right when you need it. Cover seasonal dips, manage payroll, restock inventory,
or tackle unexpected expenses without missing a beat with flexible draws, transparent pricing,
and control over repayment. Get funded quickly and
confidently. Apply today at on deck.com. Funds could be available as soon as tomorrow. Depending on certain
loan attributes, your business loan may be issued by on deck or Celtic bank. On deck does not lend in
North Dakota. All loans and amount subject to lender approval. You're listening to
what are we waiting for? Well, what are you waiting for? One, two, ready, go.
Action! In the Bester's Edge with Gary Culpa.
By the way, the NBC guy is Lester Holt.
Who, by the way, I've had nothing but respect for him throughout the years,
but he has gone into the tank also, obviously.
Obviously gone into the tank.
I had a few little market things, and we'll finish up with a couple other things.
Just want to let you know, we get asked all the time about Warren Buffett and things he's doing,
and we've been asked about he has tons of cash.
one of the big machas at Berkshire Hathaway just sold off a ton of his stock.
Do I think that means Warren Buffett is wary of the market?
My answer is an emphatic yes.
In the past, he's had magnificent timing, not perfectly, but there's always lead time,
but always kind of sort of in the vicinity.
And I'm talking about within a year of him being,
tons of cash of problems arising, and he does it just so you know, basically valuation.
Not necessarily predicting doom, but valuation. He's big on not paying $2 for a dollar bill.
Is he going to be right this time? I don't know. Or maybe he starts spending the money on things,
which brings me to a couple of names, just to remind you.
He owns a ton of Occidental Petroleum.
The stock has gone from 71 to 51 in the last six months because of oil prices.
He's been buying, he bought it 60, 56, 55, 60.
I'm going back a year.
He's been buying all the way through.
He couldn't give a crap that he's down on it.
He's buying a company.
I think eventually he buys the whole thing up, but I do not know that is just a guess.
And we'll see how it goes.
He did sell down a lot of Apple, and people are worried about that.
But my guess is he just ended up with too much of Apple and still owns a ton and he's up pretty big.
Remember, he bought Apple, I believe, in 16 in the midst of a bare market, and people were laughing at him.
And you know what the stock's done since.
and he just bought into Ulta Salon, ULTA.
The stock jumped on that news, and is up a little bit since.
I'm interested in watching it.
The big issue is growth.
I'm reading here, I don't know if this is updated, but like 1,400 stores in 50 states.
Sales growth has been, last quarter was only 1% and earnings were down,
but don't think for a second, I don't watch everything he does.
Why not watch the billionaires?
So just letting you know, we've been asked a lot about it.
We are not advocating buying, selling, shorting, or covering any of these things.
We just like, you know, follow the billionaires.
Why not?
Oil stock's still weak.
Bearish phase.
Commodity stock still weak.
Barish phase.
They bounced a little bit today.
We don't buy anything in bearish phases or in downtrends.
We really have no interest and we'll always tell you to avoid.
It's a simple thought process, avoid.
We'll never buy into no sales junk.
And boy, there's been a lot of that over the last few years.
We are very wary and we warned you on GameStop, the valuation of Trump.
Valuation does matter to us and it's very easy.
valuation is the amount of shares outstanding times the price you come up with a market cap and you can
add things up if you see a company with a 10 billion dollar market cap with a hundred million in
sales that's kind on the expensive side these are the things we watch we gave you the heads up on
the trump stock when it was in the 60 70 we said to it was worth a dollar but you add in the
trump name let's call it 10 it's down to 17
and again, it's not political, but you can't have market caps, not in the trees, but in the redwoods.
Now, if you're growing like crazy, you can grow into it, but it's not a growing entity.
We warned you about GameStop when that Roaring Kitty jackass came out.
God bless him.
I don't have that influence.
The stupid stock went from 10 to 65, but went right back to 17 and 5.
days, was able to run it one more time to 48, and then the jackass did that streaming
and showed that he was a jackass, and the stock is back down to 20.
Let me give you the best way to explain a business going the wrong way.
You ready?
Sales, year over year, and you always do year over year because of seasonality, but also you
can go from quarter to quarter if you want.
but let's do year over year sales minus 9 minus 19 minus 29 and in the quarter just ended
July 31st there were 31% less sales than the year before what does that tell you it's all you
need to know. It happened with Bed Bath and Beyond, slowly then quickly. It happened with Kmart,
Sears, J.C. Pene. So just letting you know how things work. They're going to end up shutting a
bunch of stores. It's just very, look, very tough business. The streaming's taken over. Who
needs to go to a game stop? That's what's going on.
and don't get me they still do business it's just they did 798 million for the july ending quarter
but the year before was 1.16 billion so when all was said and done i don't care about a roaring
kitty does not matter to me when all is said and done there's always an eventuality if the
company's growing leaps and bounds and making all kinds of money and margins are expanding
And there's demand where people are flocked around the corner to buy the goods or the services.
You will have a stock that is rising.
And then when you see the opposite, that's all.
Ladies and gentlemen, have a great evening.
And don't get mad for our opinions.
Think about our opinions.
And when you get home, do like we do, quite simple.
Make sure you hug your family.
Make sure you hug your children.
they will feel better, you will feel better, I promise.
Same time tomorrow, we'll be back.
Peace out, all.
Serenity now.
Good night.
This has been Investors' Edge with Gary Cult Bomb on BizTalk.
To listen to past episodes or to get in contact with Gary, go to GaryK.com.
That's GaryK.com.
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