Investor's Edge with Gary Kaltbaum - Crappy a/d [06.13.2024]
Episode Date: June 13, 2024https://garykaltbaum.com/...
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Investor's 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 Colbom, your host.
A thanks for being with us today.
Glad you here, ladies and gentlemen, happy that you are listening.
It's, uh, what is it?
It's Thursday.
It's June 13th.
It is 2024.
I hope you're having a good day.
By the way, ladies and gentlemen,
you know what I just realized yesterday?
We're off next Wednesday.
Juneteenth is a federal holiday.
Market is closed this coming Wednesday.
I'm thrilled.
I'm thrilled.
And in case you do not know what Juneteenth is,
go look it up.
These are the things we need to learn about and learn from.
It basically commemorates the emancipation of enslaved people.
And you know, it's actually kind of amazing that at any time in our world that that was going on.
even more amazing. It is going on in many areas around the world. That's next Wednesday,
June 19th, June 10th, they call it. All right. In case you don't know, this is serious talk about
everything that affects you. We do the markets and we guide you very well. We'll do the economy,
the fake government statistics, debt, deficits,
scams, shams, corruption, you name it, we cover it.
Thanks for joining, as always.
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.
We'll also post it.
There are a bunch of podcast apps pick us up.
and you can email me.
It's very simplistic if you email me.
You just got to be nice.
Do you know in the last couple weeks,
I have had major debates with some listeners who completely disagree with me,
which means I completely disagree with them,
and we do it nicely and respectfully,
versus, you know, you got a whatever, whatever, whatever, whatever, whatever, whatever,
whatever, whatever, whatever, whatever.
I want to start out today, if you don't mind.
You can call it politics, but I call it everything we deal with here, and that is your money and the future.
I guess you still call him President Trump, right?
You know, I've said Mr. Trump, and I shouldn't do that.
Every ex-president is a president.
President Trump, oh, I'm sorry.
In case you don't know, President Carter, Jimmy Carter, who's been in hospice for a while, the son, I believe, is now reporting that 75% of his time he is now out.
So we're talking late stage hospice, and we'll talk Jimmy Carter.
Well, listen, he's left a full live.
but I believe he has spent his after life after the White House doing good deeds not creating
philanthropic stuff and making yourself worth a couple of hundred million dollars
didn't do that anyway we'll discuss that more as we well I guess the words as we
closer as well as but let's talk president trump he met today with various CEOs and in case you do not know
a bunch of silicon valleyites billionaire valleyites that would never vote republican are backing him
with big dollars.
I'm amazed.
I'm amazed.
Who is backing him?
In his meeting
today with CEOs,
let me talk you
and industry
and your money.
So you have an understanding
and we can compare.
President Trump said
he is going to lower taxes
and reduce regulations.
he felt that too much regulations are onerous.
Where do we hear that word from?
I'm raising my hand.
He believes, like we believe, less of them, more of us.
Now, let me state for the record, Donald Trump ran big deficits, and this is before COVID.
Spent, immediately jumped all over and gave a ton of money, the Defense Department.
and we believe in defense, but the numbers they're getting, wow.
I digress.
While Donald Trump is telling everybody, we're going to lower your taxes.
Joe Biden said he's going to raise all of your taxes.
Every one of you, whether you make 50 grand a year or 50 million a year,
they're trying to tell you that's not true,
but we're going to give you a fact.
This is a pure fact.
President Biden wants to roll back the Trump tax cuts completely.
That's the corporate taxes.
And by the way, there's a sunset provision, and that's the issue.
The whole idea is to extend them.
That's one big mistake by Trump to have a deadline for the tax cuts that he had.
You cannot piecemeal a bill.
You cannot say like Biden is trying to lie to everybody.
Only people above 400,000 a year will lose the tax cuts.
Anybody below, it's a blatant lie.
Not a fib.
Not a mistake.
Remember, nothing by accident out of D.C.
He is also called for unrealized capital
gains. Now, I do believe because if you make too much money, they hate you, unless you're going to give
them a lot of dollars for their campaign, I don't think that's from dollar one. I am not sure what the
number is. They have been kind of hiding the number about how much you'd have to be making before doing
that. And let me explain unrealized capital gains. Imagine if, let's say you're wealthy, you know,
the privileged few, those scummy, success.
successful people that Marxist hate.
Imagine if you bought
when
after the split
we're going to use
NVIDIA was 50 bucks
it's now almost 1.30.
You're up $80 and let's say you
had a thousand shares.
You're up $80,000
but you don't
want to sell
what they're saying at the
end of the year
on December 31st, if you're up $80,000 and you didn't sell, you are going to pay taxes on that $80,000 that you did not sell.
And what if you don't have the money to pay those taxes?
Oh, you may just have to sell forced into it.
They're insane.
They're illogical.
These people should not be running a lemonade stand and they get elected and voted in on
utter moronic stupidity.
What else?
Well, they've been floating wealth taxes.
Hey, you got too much money?
We'll take the machete out and cut you with the knees.
Don't worry about the fact that we taxed you if you live in California, state, local, federal.
Don't worry that if you have too much when you die, we're taxing you then.
We're going to tax you now a wealth tax every year.
That's been floated, but I don't think that's getting anywhere.
I don't know if they're that insane.
And they want long-term capital gains tax to go from 20 up to 44,
which is another imbecilic, moronic, doofous idea to keep long-term capital.
Number one, I think capital gains is a tax is stink anyhow.
That's your saved money being invested.
But they got to come after everything, right?
Okay, right.
So up next, I'm going to give advice to President Trump on what I would say right out of the debate.
And then the markets.
This is the one only Investors Edge.
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Okay. So if I'm President Trump,
I become Gary.
You know, me.
And in the debate, when you have an opening, the first opening,
I guess you can say something at the beginning, introduce yourself.
This is what I would state.
And I, listen, I know what you're going to say, January 6th,
all the other things he's done,
but we're dealing from going forward.
I would start with, you know, it's supposed to be we the people.
We the people are not supposed to be working for the government.
The government's supposed to be working for us.
Here are Joe Biden's proposals on you, the people,
and what he wants to do and what he wants to extract from you.
Here are my not just proposals.
These are what I will do.
And then I go through, extend our tax cuts.
We will not raise long-term capital gains.
You will not have a wealth tax.
There will not be an unrealized capital gains tax.
We will not do any of that.
And in fact, we also think that regulations really are, they restrict.
We're going to be looking at them from start to finish.
And where we need regulations, we'll keep them, but my goodness gracious.
And you see what they're doing in the DOJ on the anti-dress department.
If you're too big, you're bad.
No, we think if you're too big, that's because you did something right.
That's what I'd be doing.
Big time. We'll see how it goes. You know where we stand. You know where we stand. It is we the people. They're killing us. You don't feel it physically. But $6 to $7 billion is being added to our debt every day and grows every day. And they lie about it every day. And the media never asks about it every day. Joe Biden could not last one minute.
me interviewing him. And I do it respectfully. First question, how do you keep telling the people
of this great country that you lowered the deficit when you are running record deficits and by
far? Let me show you the numbers. How is it possible you were telling everybody you have lowered
spending and you are breaking every track record on spending? How was that possible? You said you
cut child poverty in half?
How did you do
that? That's how we'd start.
And he'd be walking out.
Anyway, we'll see how it goes.
Got a few months left.
But economically, if
Trump comes in
and not only does what
he says on taxes and regulations,
but also he's talking
the size of government,
that he'll have to prove
because he
raised the size of government when he
came in just like a normal politician does. So excuse me, President Trump, we're going to have to,
if you win, the jury will still be out. We'll see what you do, because we know what happens
when you get into D.C. You know what the mother's milk is. And that's that. That's how we start.
And if you don't know how important it is when you have a Marxist in the White House, I can't help you.
And I don't use Marxist as a pejorative word. I'm not going to. I'm not.
cursing him out. I'm telling you what he is. Marxism economically is what I call control freakism.
They do it with rules, regulations, fees, fines, mandates, taxes, and giveaways. He's writing the book on it.
He's writing the book. And no, we're not saying he's Stalin or Pol Pot, but economically, he's
taken us towards everything this country is against. And that's upward mobility, hard work
earns you your keep. Meritocracy. You win if you beat the next guy. Competition. Why do you
think all these companies are dropping the equity? Well, if you're not the right type,
even though you're better than the next guy, we're not hiring you.
Insanity, ladies and gentlemen.
I believe in equity of opportunity, not outcome.
I don't care what you look like, how you sound big, tall, short, fat, skinny, white, black, Hispanic, race creed color, does not matter to me.
Equal opportunity.
Equity of opportunity.
but not equity of outcome.
That's what is known as fair.
That's what is known as earning.
That's all.
Okay.
The markets.
So the Dow was down 250, only finished down 65.
That's fine.
The S&P up 12.
I wonder why.
Why was the S&P up 12 if the Dow was down 65?
Oh, the NASDAQ was up 59, NASDAQ 100 was up 111.
And how did that happen?
NVIDE was up another $4.50, which was another $45.45 pre-split.
And Qualcomm was up three.
And Apple was up a buck and change.
And Broadcom was up 180, even though reported a whopping 6% earnings growth,
even though Proctrine, Gamble, and Pepsi both have better earnings growth.
It's AIAIAIAIAIAIAIA-A-I-O.
And as we've said to you, we're writing it.
Personally, we're riding it.
But boy, oh boy, we got our eyes wide open because it's getting a little 99-ish.
What do I mean by that?
15 up 24 down on the New York, 14 up 27 down on NASDAQ.
Wait a minute, 1,400 stocks up today on the NASDAQ and 2,700 down with the NASDAQ up 59, NASDAQ 100, 111, yep, do you know what's going on?
We're at the widest chasm of technology versus the rest of the market in percentage terms market cap, ever.
Blown away 99.
And widest chasm on the mega caps like we've never seen.
But until they die, we ride.
How it finishes up, I have no idea.
In 99, 2000, it was a climactic move and a big.
bunch of names and the NASDAQ itself. Would I like climactic if it's going to end that way?
Hell yeah. That means there's going to be a lot more to go. Hell yeah. But we don't know yet.
And we don't try to predict. We'll let the market decide on a daily basis. All we can tell you is
another good day. And now you can add in Super Micro SMCI. That's one of those names. We'll explain that one up next.
and others.
This is the one only investor's edge.
Guys, it's no use putting it off.
The best time for an underwear refresh is now.
Tommy John underwear is designed for a perfect fit that stays put all day.
Their zero chafe thanks to four times more stretch than competing brands.
And their innovative horizontal quick draw fly is a game changer.
With over 30 million pairs sold, there are thousands of men out there more comfortable than you.
Don't settle for less.
Go to Tommyjohn.com today for 25% off your first order with Code Comfort.
That's Tommyjohn.com code comfort.
Tommy John, comfort perfected.
This message is brought to you by the Capital One VentureX card.
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The Capital One Venture X card.
What's in your wallet? Terms apply. Lounge access is subject to change. See Capital One.com for details.
This episode is brought to you by Spreaker. The platform responsible for a rapidly spreading condition known as podcast brain.
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Upload it once, and Spreaker distributes it everywhere people listen.
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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.
And welcome once again to Investors Edge.
So we were just saying that Super Micro is just one of those AI names that may have woken up today.
Volume was 87% better than average.
Still got a lot of work to do.
We'll see what a lot of.
happens, our issue remains, the broad market is terrible. And I mean terrible. If you have one of
those hundred stock diversified whatever and you own some oils, you're getting squashed.
If you own some out of favor of financials, you're getting squashed. If you own regional banks,
you're getting squashed. How about in the Dow, if you're not in the Dow, if you're
If you own McDonald's in the Dow, you're getting squashed when you should own Chipotle.
By the way, we're not saying buy sell shorter cover.
Chipotle, we're just giving you an example of strength versus not.
If you own Johnson and Johnson, you're getting squashed instead of Eli Lilly where you're making money off of, you know, the, you know, whatever.
By the way, I'm reading about stories on these weight loss wonder drugs that there's going to be massive amounts of lawsuits.
And I was reading that the last two days and I was wondering if it would affect the stock and Eli Lilly hit another high today.
So obviously not yet.
And you know what I think.
I don't care what you're taken.
When you come off of it, you're going to gain back.
that weight unless you do something with the change of life. If you own Disney, you're down 50%
from 2021. If you own Boeing, you're down 60% from 2019. And I'm just not picking out any
company Disney and Boeing. Johnson and Johnson. Intel. If you own Intel just from January,
you're down 40 some odd percent, but if you bought NVIDIA, you'd be up 120.
By the way, Semiconductor versus semi.
This is what we mean by, you better be on game.
If you own the transports recently, yikes.
If you've owned the small caps instead of the large caps, double yikes.
Oh, and full disclosure, we tried buying the small caps twice in the last six months,
and we stopped out twice.
fool me once shame on you so the broad market is just
which has us paying a lot of attention
because in case you do not know in 99 2000
they were leaving everything for dead while buying into
tech land I still remember this is a true story
somebody I was working with
I'm not going to mention the company's name, but she had clients at a major housing company.
I believe she had the CEO, the CFO.
As clients, she asked me to go down with her to meet with them.
She trusted me.
And I remember the CEO asking me, why don't they buy my stock?
I said because they're buying everything else but your stock.
The housing stocks were at one-time's earnings because all that money was coming out of them,
as well as other things, and into Nortel, Lucent, DMC, you know, the whole list,
until they all topped, and what do you think bottomed while the whole internet thing and tech thing topped?
housing stocks. Why? They were trading at one-time's earnings. So what we are watching in real time,
and it's not everything, and it's not even close to 99 yet. But I'm just letting you know it's going
that way on a daily basis. The market is really going narrow towards here, and I'm just pointing to
my right, and just completely ignoring here, I'm pointing to my left.
And when we do our webcasts for our peeps, we do separate webcasts just showing bad.
And I'm amazed I'm able to show hundreds and hundreds and hundreds of stocks.
By the way, in the Dow, I think 20 out of 30 look like crap.
In bearish phase, why do you think the Dow is underperforming?
Fortunately for the Dow, Apple is better.
Amazon no great shakes lately but not hurting
Microsoft's at new highs
Walmart's at new highs
but it's few and far between
so we'll be ready
we don't know exactly how it's going to play out
and we've been thinking if we end up with another 99
and we're not saying we are
but if we do
here's how we're going to do with you on radio
we're just going to keep telling you what you have to keep avoiding, keep accentuating,
and as the accentuation gets wider, be a little more vociferous in letting you know,
possibly getting closer, and then as a student of climactic moves in the market,
if we get one of those or we'll be ready.
Now, whether or not we get one of those, I don't know.
But I have to tell you, things like the Semiconductor Index, the socks,
it sure is acting like it.
Certain names, it sure acting like it.
So stay tuned.
We're working harder than ever.
And I don't even know if we can work harder than we already have.
We're focused.
And if that time comes, we shall be ready in advance.
Why?
We've studied history.
We've studied precedent.
Not what somebody says, but actually how the roadmap of markets.
And when you get outlier events in the market, that's where you have to be even more focused.
And we've been getting a little bit of outlier.
an outlier simply means
away from what the norm is
and we're getting some of that
we're getting a decent amount of that
and as always if anything
changes we'll let you know we just had some changes
what are we talking about for weeks
oh strength copper aluminum uranium
gold silver
they've all topped pretty good for now
and a bunch of them breaking down
What were we saying China was much better.
Not anymore.
And why?
Because the two big names,
Ali Bob and Baidu,
acting like the south end of a northbound jackass.
So things changed.
You may have a big change with Adobe tomorrow.
This stock has been squashed Adobe,
a software stock.
They reported earnings after the close.
They were came in as expected.
The guidance knows, okay.
stocks up 14% in the aftermarket gaping up.
We'll see what tomorrow brings.
It only gets back some of the trashing it has,
but that's a big name that could be of import.
We'll see.
Changes.
But right now, most of the mega-cap tech, semiconductors,
AI, continue to rule the day and even today.
But there'll be a time where they get squashed.
And they will get squashed.
Ultimately, when they get so over-owned, over-loved, over-leveraged, and over-priced.
Didn't happen today.
Up next.
Whatever else, I'm Gary.
This is the one only investor's edge.
Guys, it's no use putting it off.
The best time for an underwear refresh is now.
Tommy John underwear is designed for a perfect fit that stays put all day.
Their zero-chafe thanks to four times more stretch than competing brands.
And their innovative horizontal quick-draw fly is a game.
Game changer. With over 30 million pairs sold, there are thousands of men out there more comfortable than you.
Don't settle for less. Go to Tommyjohn.com today for 25% off your first order with Code Comfort.
That's Tommyjohn.com code comfort. Tommy John. Comfort perfected.
This message is brought to you by the Capital One Venture X card. Venture X offers the premium benefits you expect,
like a $300 annual Capital One travel credit for less than you expect. Elevate your earn with unlimited double-mile
on every purchase, bringing you one step closer to your next dream destination.
Plus, enjoy access to over 1,000 airport lounges worldwide.
The Capital One Venture X card.
What's in your wallet?
Terms apply, lounge access is subject to change.
See Capital1.com for details.
This episode is brought to you by Spreaker, the platform responsible for a rapidly spreading
condition known as podcast brain.
Symptoms include buying microphones you don't need, explaining RSS feeds to confused
relatives, and saying things like,
Sorry, I can't talk right now, I'm editing audio.
If this sounds familiar, you're probably already a podcaster.
The good news is Spreaker makes the whole process simple.
You record your show, upload it once, and Spreaker distributes it everywhere people listen,
Apple Podcasts, Spotify, and about a dozen apps your cousin swears are the next big thing.
Even better, Spreaker helps you monetize your show with ads,
meaning your podcast might someday pay for, well, more microphones.
Start your show today at spreeker.com.
Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it.
You're listening to.
What are we waiting for?
Well, what are you waiting for?
One, two, ready, go.
Action!
Investors Edge with Gary Culper.
And welcome once again to Investor's Edge.
I got about 30 people email me about Tesla today.
Tesla finished up $5.18
after being up about 13.
Musk won whatever to get his money.
There was a big thing about him not getting paid what he made.
And they said that was the reason, but it didn't finish great.
But all I can tell you right now in the aftermarket, it's up $3 to make it up 8.5 on the day.
still needs plenty of work.
It's got a relative strength of 17.
That means 83% of all stocks have been outperforming it.
But we do know when Tesla gets going.
Oh, it gets going.
In the news.
And, you know, we don't mean to pick on California,
but when they're running the place into the ground
and totally disrespecting the citizenry,
knowing that a lot of them are never leaving,
they can't leave.
That's where their home is and their family.
is.
CVS is now speeding up the closure of their stores in and around San Francisco parts of Los Angeles in Oakland.
They are now considering the possibility of pulling out of California entirely.
Their reasoning, mass theft with no consequences.
And here's a quote, general lawlessness throughout the state.
The margins are already thin, and they can no longer support the stores in California off of the backs of their stores in certain other states that don't have the problem.
What do we tell you about some areas?
If you shoplift $949, no problem.
$9.50 is a problem.
So the crooks are walking into stores with calculators and adding up and leaving.
And the little leeway leaving with $940 and just come back the next day.
I have never seen more moronic leaders, and I use that word lightly, of states and cities in my life than these people in certain states, the judges, the DAs, they are.
sick in the mind. They do not care about their citizens. We're reporting to you about store after
store, restaurant after restaurant closing down in California because of the latest moronic move.
Anyway, that's CVS, but don't worry. They only have a ton of them there, and don't worry,
that's only jobs that are going to go by the wayside. And don't worry, Gavin Newsom, don't ask me
why we'll still get elected, even though he's just destroying the joint and running
bazillion dollars in debt.
I got news for you.
They're easy to get picked on.
They've earned it.
They've really earned it.
In the news, our Treasury Secretary, Janet Yellen says the United States debt load is in a
reasonable place.
Do you hear my silence?
The nerve
of this woman
who is enabled and been part of
running two to
three trillion dollar yearly deficits
to make that statement.
And she was doing it in an interview
and I'm just thinking to myself
if I was doing that interview
I'd have to
know four letter words
but my next line would be
who are you trying a kid
they're psychopaths
control freaks
they have to be taken out of power
in the news
just letting you know
and this is a moving target
but trucking employment is falling
actually they're saying
it's collapsing trucking employment
I don't know if that means a ton
but trucking, you know, as we've told you, trucking isn't a bare market in the stock market
and something to watch. In the news, the top seven stock in the S&P 500 are now at an all-time high
of 32% of the S&P. The top seven stocks are 32% of the S&P. The other 493 or 68%.
needless to say the top seven stocks had better perform or you better be out of the S&P.
So far, so good.
And by the way, that's of import.
In the news, just when you have a chance, go look at a chart of government jobs since the year 2000.
You got me on that?
And one asked to ask the question, where are those jobs going to?
It really is a valid question.
No, really. And that's the ever popular over-the-top news of the day.
And again, a lot of questions on Broadcom when I say 6% earnings growth.
They had 6% earnings growth. That was nothing.
Yet the stock was up 100 and some almost $200.
They announced the 10-for-1 stock split.
I don't know what component of the move is because of that, but leave no doubt,
since the invidious stock split has worked, follow the leader.
and next up will be Chipotle, a 50-for-one stock split on Chipotle.
That is amazing.
And it just tells you how good the stock is done.
Tomorrow, I'll be on with Neil Cavuto, noon hour.
Check it out, Fox Business Network.
Same time tomorrow for radio.
So have a great evening, drive carefully.
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.
feel better. I promise. Peace out all. We're working for you. We the people. Good night.
This has been Investor's 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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