Investor's Edge with Gary Kaltbaum - Big Blow Ups!
Episode Date: September 1, 2022Follow Gary on GaryK.com or http://garykaltbaum.com...
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Wrong.
Healthy Choice Simply steamers are delicious and healthy.
The tray-and-tray steam technology delivers crisp veggies and tender protein and tasty selections,
like Healthy Choice Simply Steamers grilled chicken and broccoli alfredo.
It's a satisfying meal with 28 grams of protein and nothing artificial.
Healthy Choice Simply Steamers.
what having it all tastes like.
Investor's Edge with Gary Kaltbaum.
Straight talk about you and your money.
Now from the BizTalk Studios, here is Gary Kaltbaum.
And welcome once again to Investors Edge.
I'm Gary Kaltbaum, your host.
A thanks of being with us today.
Glad you here, ladies and gentlemen, happy that you are listening.
It's September 1st.
It's 2022.
Hope you having a good day.
As always, this is serious talk about you.
and everything that affects you with a little comedy injected whenever we need be,
and haven't had a lot of comedy lately.
But better finish to the market today, we'll talk about that.
We'll talk about what we told everybody at around noon to 1 o'clock today.
We actually thought we would get some sort of reversal today.
We'll explain why, but doesn't change the big picture.
That's markets.
And of course, I'm sure we'll be whining, complaining about something.
But first, if you do not get this radio show in your city, we'll post it at garyk.com.
We'll also post it at a Twitter feed.
And you can follow us on Twitter.
Just go to Twitter, put our name in, or press the button at garyk.com.
You can email us, just be nice.
That's all. Just be nice.
So I just want to start off with one thing, because as you know, they are our opponents.
They're killing us.
They're absolutely killing us.
tonight our president my president of the united states joe biden is doing a special speech as you know he's
been revving it up in the last week or so calling one side of the aisle what's the word semi-fascist
great i don't want to comment on that and all of a sudden he's yelling and screaming about crime
even though a bunch of people on this party have been wanting to defund the police and in some cities get rid of them all together.
I just want to make sure that you know the facts.
Because when you hear nonsense from Trump, the Republicans, we let you know.
When you hear nonsense from the Marxist party, we let you know.
he's going to tell us tonight
the soul of the nation
and democracy is at risk
that's what he's going to tell us
he Joe Biden
is actually got the grapefruit
to say that to us
the soul of the nation
democracy
you know what he's doing right
he's putting down
350 million people of this country
because let me tell you about the facts about the soul of the nation and democracy that affects you and your job and the economy and your money and the markets and all the things that matter the same man who's been in Washington, D.C. since 1973,
when our federal deficit was $458 billion
is going to whine and complain to tonight about
the soul of the nation and democracy at risk.
The man who is voted for
$30.5 trillion are $31 trillion of debt.
Money over and above they were supposed to never spend.
To the point where today, 1.6 now, 1.6 billion of our tax dollars goes towards interest on that debt.
3 billion is added to our debt.
And both grow each day infinitum forever.
And he's going to tell us about the soul of the nation and democracy.
Really?
He's a clown.
He's a Washington, D.C. lifer.
That's desperate to keep power in November.
So say anything, do anything.
Be like Trump!
We had four years of Trump doing that.
He's voted for $30.5 trillion of our $31 trillion, but now are democracies at risk.
I would say this to his face.
Go screw.
Who are you trying to kid?
I would
I don't look at him or Trump
as Presidency United States
I look at him as people
and Obama
yeah you know we're going to get millions of people
insurance but don't worry it's not going to cost a penny
Bush I'm a compassionate conservative
six trillion of debt later
you see what's going on
and you know what the problem is
Do you think any of the media talking like me?
Dealing with the ultimate facts of what they have done?
Think about it.
They complain about not having enough money in Washington, D.C.
$1.6 billion today is going towards interest.
Oh, by the way, the interest is going to grow because of interest rates going higher.
You catch in my drift, both sides of the aisle that are listening to this show?
When are we going to have enough of these people?
Is there ever going to be a point in time when we get so pissed off at their mortgaging our future to solidify their power and their BS?
I mean, just blatant lies.
They market themselves as saying they cut child poverty in half.
You know what they did?
They gave a tax credit.
You don't take a child out of poverty because.
as a tax credit. It's a lie. It's a sleazy, slimy, scummy lie as people like me who work
closely with kids at risk are given another headwind by the President of the United States
with his lie. So tonight you're going to be lied to by a man that has taken us the $31 trillion
that, Gary, come on, it's not all him. Of course not. But he has been there almost.
the longest and has never said nay to a dime of it. As we have stated, it takes both parties
and every politician to get us to where we are. The soul of this nation and the democracy is
pretty damn good with the people. They're extremists on both sides that are ass clowns. Oh,
I promise not to use that word. I can use it once. But most of us are a little left and a little right
and very logical. When is the main
majority of the people on both sides
had enough of these people on both sides?
They are our opponents. They're not working for us.
They're laughing at us. He looks into the camera and quietly says,
I cut the deficit $1.7 trillion. But he didn't.
The massive spending for COVID
has come down 1.7 trillion.
That's just the norm.
It's a lie.
Yet this is the marketing.
These are the marketers.
As they continue to mortgage our future,
send prices for everything we pay skyrocket,
we having to deal with their distortions of everything,
and he has the grapefruits to stand up tonight
and tell us about democracy and the soul.
$30.5 trillion.
later. Not to mention other things he's been caught with that, of course, the media blacked out.
I don't know if it's going to take me or others. Somewhere along the line, we've got to hit the wall before we hit the wall.
And we're getting close right now. We're getting close. You've seen markets. You've seen yields. You've seen mortgage rates. You've seen housing now. You've seen what you're paying.
for everything. What do you think? It's our fault? Up next, market wrap. Finish much better at the end
of the day. I'm Gary. This is the one only Investor's Edge. Hi, I'm Gary Kallbaum, hosted a nationally
syndicated radio show Investors Edge. We're not just handsome radio people. We manage investors' money
for a living, specializing in fee-based discretionary money management. No big commissions, just a fee
on the assets that's managed. We also provide a full range of personalized services, including
retirement planning, fixed income, and educational needs, all to assist you in achieving your
financial goals. Understanding not all individuals have the same needs, we'll carefully evaluate
your personal goals to determine a proper investment strategy. If your current approach to investing
is not getting you to where you would like to be, call us to make an appointment for a
complimentary portfolio review. The number to call is 888-4-22-559. That's 888-4-22-5-5-5.
559. That's 888. 422. 555.59. Investment advisory services offered through call bomb capital management.
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, I have a stomach
ache 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.
Enjoying a healthy dinner that tastes great means eating out at a pricey restaurant, right?
Wrong. Healthy Choice Simply steamers are delicious and delicious.
healthy. The tray-and-tray steam technology delivers crisp veggies and tender protein and tasty
selections, like Healthy Choice Simply Steamers grilled chicken and broccoli Alfredo. It's a satisfying
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all tastes like. 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.
The last bastion of quality programming.
With Gary Coltbaum.
It doesn't get better than this.
Amazingly.
Amazingly.
I have to bring up something.
What do you teach your kids?
What do you teach your kids?
Don't lie.
Right?
Don't lie.
Treat people with respect.
Study.
Study hard.
Become great.
Be a leader.
What do you teach them about mistakes?
What do you teach your kids about mistakes?
Three words.
Learn from them.
We all make mistakes.
We all screw up.
Sometimes we screw up big.
Sometimes they are small screw-ups.
But learn from them.
especially the mistakes that could affect others negatively.
Isn't that one of the things we have taught our children?
Do you know who one of the culprits of 2008 was?
It was Bank America.
They were part of the nonsense.
They were a part of the lending money to anything that breathed.
They were a huge part of the problem.
Now, it's 14 years later.
I gather they've had turnover.
I have absolutely no idea who's running the joint at Bank America.
You do know what happened back then, right?
Let me explain.
The lenders, because prices got too high to afford a home
the lenders
decided
well you know
I haven't
we have ideas
let's just give the money away to anybody
let's give zero down payments
no closing costs
let's be very liberal
when somebody tells us how much money they make
remember that
I told you the story about somebody I knew
very close to me
had 10 grand in the bank
bought a condo and Boka.
They gave our 100% loan plus 25,000.
You got that?
They gave her $25,000 above the mortgage,
even though that person had 10 grand in the bank,
at the height of the market.
So that person can pocket 25,000, still debt,
and you know what happened eventually, right?
Let me read this to you.
I'm sorry, I got to, no, I'm not going to use the word.
Let's just call them clowns.
The clowns at Bank America are now going to offer zero down payment, no closing cost mortgages to black and Hispanic first-time homebuyers.
Interesting.
So are they first being racist saying that black and Hispanics aren't good enough to put down money or don't have enough money to put down to buy first-time homes?
So they're racist first and foremost?
Isn't that what the woke people say?
Here's the problem.
And here's what happened back then, and here's the problem now.
If you have no skin in the game, none.
And you go and buy a house for 300 grand,
and they give you a $300,000 mortgage.
And the house, the value goes to $250,000.
Why would you ever keep that home?
You got that?
Because that's what happened back then.
How freaking stupid are these people at Bank America?
To give it to anybody.
I don't care race creed color.
It doesn't matter to me.
Height, weight, gender, doesn't matter to me.
Housing prices are now coming down.
And you're now going to give away homes with nothing down,
no skin in the game?
These people are nuts.
Who the hell is the CEO
of Bank America right now?
Some moron.
Absolutely illogical.
Makes absolutely no economic sense whatsoever.
And obviously did not
look backwards at what happened
back in 08 that they were part of the cause.
Oh, I know what's going on.
Mortgage applications have plunged.
Which means their business for that
has plunged.
and they're trying to come up with a way to make it better or stronger.
And what are they doing?
Repeating the same crap that happened in 2008,
these people are morons.
Morons.
I don't even know what to say.
That doesn't increase home ownership.
It kills home ownership.
And of course, they're doing it the height of the markets.
Oh, you didn't see them doing it at the bottom of COVID.
when prices were plunging a few years ago.
No, let's do it now.
Home-ownship strengthens our communities
and help individuals and families to build wealth over time.
A.J. Barclay, head of neighborhood and community lending
for Bank America Central East.
A.J. Barclays a moron!
It's unreal, ladies and gentlemen,
from the White House to the politicians,
to the central bank,
and now down to Bank America.
And you know what happens now?
Probably the other banks will follow suit.
Hey, look what Bank America's doing.
They're so stupid.
Here's how they're going to evaluate
based on the amount of rent paid on time
and timely payment of utility bills, phone bills, and auto insurance.
Meaningless!
Because now they're at mercy of the price of the home.
Up next.
Now we'll do today's market wrap.
I had to inject that.
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 egg 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.
Enjoying a healthy dinner that tastes great means eating out at a pricey restaurant, right?
Wrong. Healthy Choice Simply steamers are delicious and healthy. The tray-and-tray steam technology
delivers crisp veggies and tender protein and tasty selections. Like Healthy Choice Simply Steamers
Grilled Chicken and Broccoli Alfredo.
It's a satisfying meal with 28 grams of protein and nothing artificial.
Healthy choice simply steamers.
What having it all tastes like.
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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 its 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.
By the way,
I'm not nuts.
They're now going to give away money for homes and say it builds wealth.
Not necessarily.
I've never seen stupid a people in my life.
I'm going to approach Bank America and ask them how nuts.
I'm going to try and, you know, see what they say.
By the way, we've received no answer from Neil Cash Carey's office,
a central banker who said he was happy that the Dow dropped a thousand points last Friday.
You know, a central banker that's supposed to care.
about stable money, had no problem with them, Dow dropping a thousand points, and kicking your
401k in the butt. We haven't received any answer from them. Just letting you know. If you can't tell,
we have very strong opinions about certain things. Just remember, the people that run this world,
your politicians, your central banks, and your banks. And if they're all doing stupid things,
we're the victims.
Just remember, we're always the victim.
Nothing happens to them.
Central bankers committed insider trading that we go to jail for.
Guess what they got to do.
Resign.
Move on.
They caught Jay Powell and somebody else that is still there with insider trading
that we'd go to jail for.
They got their own ethics person to come out and say,
oh, we don't think anything was done wrong.
We didn't see any bad intent.
That's how it works.
market had a respite today, respite or whatever way you want to call it by the end of the day.
So let me explain a few things.
We're going to do it on our webcast tonight.
After a 3,000 point drop in 11 days in the Dow, what happens during that 3,000 points is that anybody that had called the bottom, bottoms in.
Everything's great.
The coast is clear.
Over that 3,000 points all go from bullish to bearish.
Go from everything's great to holy crap.
There are certain indicators, our own.
Other people have their own.
We have our own that we think work better than all them.
At 1 o'clock today, I think the NASDAQ was still down 200.
The Dow was down almost 150.
We put out the note that just letting you know,
our sentiment indicators are off the charts, off the charts,
bearishness,
which means when everybody's bearish,
it usually means everybody is sold
and somewhere along the line
the bloodletting stops and you get a rally.
Not out of strength,
but because we just drop 3,000 points
and selling just gets what we call washed out.
Enough, done.
So the final market wrap brought to you by Investment Dash Models.com.
That's Jim Rohrabak, one of the great market timers.
No gray areas with the man you're either in or out of the market with his proprietary indicators.
Go check it out.
Investment dashmodel.com.
Now, we were much lower than when I put out that note.
But from when I put out the note, the Dow went from down 1,77, 180 to up 146 at the close.
The S&P, I don't even know what that, but it finished up almost 12.
the NASDAQ was down over 200, finished only down 31.
We also put in the note, oh, and by the way, there's so many bad stocks in the NASDAQ getting crushed,
what they're going to have to do is buy up the biggies.
Guess what they bought up?
Apple, Amazon, Google, Netflix, Tesla, that's how they do it.
So it's exactly what happened.
Couple of things.
A, probably got a near-term washout.
probably who knows what tomorrow brings we got a jobs report but we think you got a near term
washout and what that usually means is some upside testing from here
B but it doesn't change the big overall picture it just stops the bloodletting
C there were 674 new yearly lows today deterioration though a lot of
them reversed. D, be careful. But we think that big, gigantic, bearishness picking up did the trick.
For now, short term. And of course, the other part of the equation, we watch the pundits
that were bullish at all as all heck 3,000 points ago that were out today crapping in their
pants. And when we see all that together, our own proprietary things that we watch,
it was by no accident. We put that out today. We did not know the market would do this reverse
for the day, but it did. So one plus one kind of equal to today, not knowing again,
we'll see what happens tomorrow. That said again,
sentiment indicators are a lot different in bull markets than in bear markets.
In bull markets, you go through a correction, bearishness picks up,
the bears come out of the woods, market holds support, and off to the races again.
In bear markets, all it does is stop the bleeding, rallies the market up,
gets people too bullish too quickly,
and then the market, when it runs out of steam,
mows everybody down again.
That's how it works.
So as usual, we have no idea what tomorrow brings.
We have a job's number tomorrow.
We have no idea what it's going to be.
I'm hearing from people, if it's bad, it's good for the market.
What?
If it's bad, that means the Fed doesn't have to be as bad.
And since the Fed controls every,
thing. If it's too good, that's bad. Whatever. We'll see what happens tomorrow at 8.30. All we know is that big dose of bearishness after 3,000 Dow points in just 11 days. And by the way, NASDAQ at the lows today, in those 11 days, we think we're down about 12% in 11 days. After people were calling it a new bull market and we were laughing our you know what's off when they were saying that. We knew better.
Unfortunately, the 10-year yield was up markedly again today to 3.265, which another day mortgage rates are going up.
On the other end, the good news is oil prices were down three bucks today.
And as we have said to you, just for the consumer, nothing bad happens if oil prices come down.
And I will tell you, oil prices right now are very close to six-month support.
meaning if those support levels are taken out to the downside great news for the consumer there are those
that think that's presaging a bad recession we'll see also just want to let you know mdb down 82 bucks
today to 241 one of those important software names that we always follow okay ta get this down 31
to 60 bucks. Another software name. V-E-E-V, down 28 bucks to 171. Another important software name.
That ain't no hill for a climber, ladies and gentlemen. There were a few others. C-I-E-N-C-N-C-N-C-A, down 10% from 50-something to
51 to 45. That's not good. Saw another one symbol AI, down 19%,
It's one of these money-losing AI application things that we warned you about.
That one's only gone from 180 down to 14.
Up next, whatever else we can think of.
This is the one only investors' 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-hats.
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.
Enjoying a healthy dinner that tastes great means eating out at a pricey
restaurant, right? Wrong. Healthy Choice Simply steamers are delicious and healthy. The tray-and-tray
steam technology delivers crisp veggies and tender protein and tasty selections, like Healthy
Choice Simply Steamers grilled chicken and broccoli alfredo. It's a satisfying meal with 28 grams of
protein and nothing artificial. Healthy Choice Simply Steamers. What having it all tastes like.
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You're listening to.
What are we waiting for?
you waiting for
one
two
ready
go
in the
guesters edge
with Gary
Culpa
da da da da
dun dun dun
it really is
unbelievable
how stupid
the people are at Bank
America
and I will note to see if
anybody else follows
elevated housing prices
and you're going to
give them away
if you're able to pay your rent
you can able to pay the mortgage
they're so stupid
if you have no skin in the game and prices
keep going down you're going to drop the keys
on the doorstep how do we know
this it's exactly what happened
in 08
they were given away the mortgages
like candy to anybody
and anything that breathed
with no money down
and as I said my friend
got an extra 25 grand
of debt to take on
and then all hell broke loose
Bank America is getting an email from me. I'm sure they will ignore me.
Stunning.
Stunning.
Stunning.
And by the way, this comes from, their mortgage business has fallen off a cliff just like anybody else's.
So how do we get our mortgage back?
Let's be stupid.
Let's be stupid.
So we covered a bunch today and yeah, I wind and complain.
But ladies and gentlemen, we do that for you and do it for I and our families.
I don't even know if I'm going to be able to stomach watching the president and his lies tonight.
There's nothing wrong with you and I.
There's everything wrong with him and them.
And again, the grapefruits of somebody to go up on screen and tell us about the risk of democracy from somebody that voted for 30.5 of our 31 trillion of debt.
It's not politics.
stupid arse lying politics.
And speaking to that, for you Trumpians who love him so much, tell him to shut up.
You know, he's bending himself into a pretzel over these documents, and he's now admitting guilt,
and he doesn't even know he's admitting guilt.
You know what they tell people who are being investigated?
Shut up.
He doesn't know how to shut up.
He's changed his story 12 times in three days now over documents, which is pretty much the norm.
Amazing to watch.
Just amazing.
I'm hoping we can get Mitch Daniels to run for president.
In case you don't know, he used to be head of the office of management and budget years ago
and then went into private and he's been running Purdue University and doing it well.
And he gets it.
He understands it.
He's got Gary in him.
He understands it's we the people.
They serve us.
We don't serve them.
And unfortunately, ain't the way it is right now.
We are their piggy bank.
That's how they would come out with something called the Inflation Reduction Act when they knew it was a lie.
They got in a room.
What are we polling worst on?
Oh, it's inflation.
Okay, let's call it the Inflation Reduction Act.
That's all they did.
I need you to know that.
It's just a blatant lie.
And I'm addressing you on the left that love him so much.
And that complained about Trump that lied all the time.
It's disgusting.
Disgusting.
He's just more of a quiet liar.
this guy on a daily basis also of note at the close of the day-to-day software stocks just absolutely
trashed i mentioned the few that crashed today and brought down a bunch of other names a few bounced
up but most of them stayed mostly down even though the nasdaq went from down 250 to down 31 the
reason why mostly the nasdaq came back apple amazon google netflix nVIDIA finished down today on that
news on China.
Finished down 11, was down 17, so that bounced a little, but was still down 11.
By the way, New Yearly Low.
I have to mention gold, another New Yearly Low.
Bad day for oils and commodities today.
And why the dollar soared again today?
By the way, I'm pretty sure the dollar is above the euro now.
So in other words, I remember when I first went to Europe, what was it, a buck 60 to get?
a euro now I think it's about 98 cents to get a euro which is great dollar to euro
101 if those the other way around euro to dollar yeah it's about even dollar to pound
yeah the dollar's a 99 cents to buy a euro pound pound to dollar
is down to 115.
First time I went to London,
it took $2.6 to buy a pound.
Now it's $1.15 to buy a pound.
And you know why this is happening?
Because they're insane over there,
even more insane than Powell.
European Central Bank is at 0%.
0%.
While inflation is 9.1.
They're just starting to raise rates.
Anyway, if you all want to go to Europe and the UK,
Oh, and by the way, if you want to go to China, that too, and Japan.
I've been to China once.
I won't go back again after everything that's going on.
I'd be afraid, believe it or not.
I definitely want to go back to Japan.
A bunch of Dow stocks are up today.
That would be the norm.
When things are defensive, they'll go into the Dow names.
Just recognize these reversals and the bearishness.
This is short-term stuff.
Doesn't change the big picture.
We'll do a big scan tonight.
Hey, tomorrow I'll be on with Neil Cavuto between 12 and 2.
Check it out.
Until then, you have a great evening.
Drive carefully.
And when you get home, do like we do.
Make sure you hug your family, hug your children.
They will feel better.
You will feel better.
Stay in shape.
Don't drink.
It's overrated.
Marijuana sucks.
Until tomorrow, same time.
Thanks for joining us.
We're here with you.
Bye, bye, all.
This has been Investor's Edge with Gary Cult Bomb on Biz Talk.
To listen to past episodes or to get in contact with Gary, go to GaryKK.com.
That's GaryK.com.
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