Investor's Edge with Gary Kaltbaum - EARNINGS SEASON

Episode Date: October 24, 2023

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That's Tommyjohn.com, code comfort. Tommy John. Comfort perfected. 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 Coltbaum, your host day. Thanks for being with us today.

Glad you're here, ladies and gentlemen. Happy that you're listening. It is Tuesday, October 24th, 2020. And this is the Hall's Menthol, Menthol, Eucalyptus, Loszenges edition of the Investor's Edge. As I started up the show a few minutes ago, we pre-tape

of course, and I just started coughing like a madman. So thank you, Halls, and hopefully it works. That's all I can tell you. Hope you having a good day. As you know, we've been starting the show with Israel, and not

much to report today except Israel has put out, and I've watched them all. Pictures in videos of the atrocities and the depravity, which I'm not going to mention today, maybe another day. What really stood out for me today, though, is something that's not surprising and actually not unexpected. The head of the UN actually gave cover to Hamas and blamed Israel for years of what Israel

is done to the Palestinians. He actually gave them cover. I'm not making this up. I just want you to remember something about this UN. They hate Jews. They hate Israel. They hate the Jewish state. They put more sanctions on Israel than North Korea, Russia, Cuba, you name them all together.

I'm not making this up. And just recently, the United Nations General Assembly elected China, Cuba, Burundi, and Kuwait to the UN Rights Council. Cuba won 76% of the votes. China 180. Cuba. Cuba. How's that place with human rights? China. I can't ever go to Hong Kong ever again. I'd be afraid to walk in.

I don't know if I've said anything bad about China on Fox, but I probably have put them down as far as the government and what they've done with their companies, as well as other things. They're on the human rights councils. There's your UN. That's what stood out today. They're still now ground offensive yet. I expect there to be. I'm pretty sure what's going to. going on, Israel's being very quiet, is they want to get more hostages out. More hostages good. People are complaining that Biden supposedly is trying to sway them to wait, but that's not been confirmed. And of course, a lot of politics involved. If you can, if you have a chance, go watch some of those videos. And just remember, this happened in the year 2023, and people are excusing it. Certain. Remember what we've told you. When you see the protests, that's not even

1% of the people. 99% of the people are mourning and going about their business. And there's some weirdos out there. And unfortunately for them, they're all getting fired. They forgot that the iPhone is out there and people are videoing them tearing down pictures of kidnapped babies. and one after the other getting fired from whatever they do. There was a doctor, a nurse, a magician. I forgot the name of a company, a financial company, Vanek. Some guy who worked for Vanek. Fired, your history.

As we have said to you here, we don't care what anybody else, anybody who thinks what happened in Israel is a good thing. thing. I'm not hiring you. All right, we move on quickly today. We're an earnings season. We're going straight into the market. And what we do is we sit back, have to wait until the earnings come out, because you don't know who's going to cough one up, and you don't know who's going to have good numbers. You really do not. And the whole goal is for me, and this is how I handle it. And I'm not. Everybody. If I don't own something, I will not buy it within a week to two weeks of earnings. And what we do on earnings is we wait. And we have a very good feel what people are supposed to report,

what they're reporting, what the guidance is, and, more importantly, the reaction. We do not listen to conference calls. why don't we listen to conference calls? And we could. We can listen to all of them. Because we used to have CEOs on this radio show many years ago. We brought on some of the best of the best CEOs. We had Linda McMahon of the WWE.

We had Scott McNeely of Sun Microsystems. That's way back. We had the head of IBM, on and on. Nobody said anything bad about their companies. Everything's great. Everything's terrific. Everything's wonderful. And basically, the conference calls have turned into one of those things, except I hear the last Tesla conference call, Elon Musk was just whining, complaining about this, that, and the other thing. So what we just simply do, we sit back, we kick back, and we watch reactions.

There's some important earnings that just came out after the close. And I'm just going to report the two biggies to you. You got Microsoft reported earnings. I'm not even going to give you the number, but it closed at 330. It's up to 348 in the aftermarket. Just so you know, even though, okay, that's what? 5.5%. That's a big 5.5% for a name like a Microsoft.

On the other end, Google was the other one reporting. Closed at 138.81. I got it at 131.90. So that's down seven bucks in the aftermarket. So you got a mixed bag of the two biggies. And we're just watching to see. I noticed Facebook, for whatever reason, started dropping like a rock when Google announced.

I still call it Google. But now it's back to flat. It was down like six or seven. So I don't know what was said or how it was said. And this is what we're going to be doing. and keep in mind the reason we're bringing these two names up is because they matter. They've had big sway over the indices. While we have been reporting to so many, the Russell 2000 at New Yearly Lows, the finding,

I can go on and on and on and on. So stay tuned. Who else is reporting after the close that pretty much matters? Visa. Why is Visa matter? Well, first off, it's in the Dow. and it's Visa. And I got it up about, yeah, we'll call it five bucks in the aftermarket, only about 2%.

But, hey, everything is a good 2%. The stock is pretty much done. It's right now 240. I can tell you the stock in July of 21 was 252. So the stock really hasn't done much, but it's certainly better than Capital One and Discovery financial and American Express that have been trashed. So there's some reactions and there's going to be a bunch more as we move forward, some big, some small. Some matter less, some matter more. So stay tuned. And on something like a Microsoft, that has a big interest to us. Because when

big names go, they go. By the way, Texas Instruments, another important name in the aftermarket. the stock has been trashed as of recent. Very important semiconductor name. And one would hope after getting trashes gone from 148 to 147 in 10, 12 weeks. It's 141 in the aftermarket. So no respite from the downtrend in that one. And just remember, any numbers we give you right now, we're at the close of the market. They're going to do conference calls.

They're going to do guidance. you don't know if things are going to change. As I sit here, Google's going down even more. And again, I haven't even looked at numbers yet. And that's how we roll. And it is time-consuming. Some would say it's arduous. Notice the big word.

But it's what we do. How do we stay ahead? How do we stay ahead? We work hard. Up next. More on the aftermarket and much more on today. 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, 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 complementary portfolio review. The number to call is 888-4-2-5-59. That's 888422-5-5-9. That's 888-4-22-5-5-9. Investment Advisory Services offered through Colbaum Capital Management. 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 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 miles 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 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. Symptoms include buying microphones you don't need, explaining RSS feeds to confuse. used 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

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The last bastion of quality programming. With Gary Coltbaum. It doesn't get better than this. And walk once again to Investors Edge. And what we do, let me give you a few from today. Some you'll know, some you don't know. This morning, GE reported. GE stock, believe it or not, has done pretty darn well until as of recent.

They have done some spinoffs. It's helped their stock out. And they really done a good job on the bottom line. But ran into some trouble in July and went down from 118 to 107. No big deal. Today was up seven bucks. on really strong numbers. Instead of it not being on our screen,

it goes on our screen because of one reason. It got back above the 50-day moving average. And if it stays there, it doesn't mean it's going higher, but you can't go down if you're above it. You can only go down if you're below it. So once you get back above, it's something we'll have an interest in. Verizon.

Now, we have to recognize, for what it is, Verizon stock hit a high of 62 and 19. It's 34. Verizon stock, which is just 34, well, in 1997, was 34. I'm not making this up. Verizon, $34.00. No gain since 97. But had a good reaction today. Does it sway me anyway, shape, or form? Nah, not really. But it's a Dow name that's been an anchor to the market. And we're going to recognize, hey, it had a good reaction on, by the way, a drop in earnings and sales. We'll see what that means, ultimately.

Spotify, you know what they do, right? The stock was up nicely today. $16. 10% move, strong volume. They made money for their first time ever. So all the investing of whatever they did and getting rid of some garbage shows, I guess, what they do, get rid of Harry and Megan. So that gapped up today.

Back above the 50 day, it's on our screen now. And that's how we do it. And there are a few others. I don't need to go through everyone, but that's how we do it. And then there's the other end. You know what the other end is. What stocks gap down? What stocks were trouts today?

Well, there are a bunch of those too. And guess what we do with those? Oh, we avoid. And we look to see what groups they're in, what happened, the why and the how. And again, when we say to you on this show, Avoid, that's what we mean. We want to stay away. Stocks that react poorly to earnings are first and foremost on our avoid list.

We don't mess around. So today, on the downside, if I can find them, on earnings, I know they're coming up, something called TransUnion, whatever they do. It's only down 24% today. Oh, we're going to stay away. And so on and so forth. And that's how we roll. And what we use is something called briefing.com.

I think it costs us 500 bucks a year. I'm pretty sure. Asbury Automotive. Down 12 bucks today. On a 12% drop in earnings, 5% drop in sales. Guess what? No thank you. CA hospital was down 5% today, was down worse, but stock in a pretty big down trend,

and not happy. You ever hear of TFI International? I've never, but I do know their truckers, down 10% today on big volume, on a 22% drop in earnings and a 15% drop in sales. This is what we do as far as disqualifying. Have you heard of calyx? I kind of sort of have. C-A-L-X. Down 18% today on a thousand times, 10-times average volume.

New yearly low. Hey, guess what? We're not going to own it. You've heard of Dana-Herr, right? Medical company, big time. Earning's down 21, revenues down 10. Into new yearly lows. On that, we're not going to own it.

So that is how we will disqualify stocks. And we are able to do it pretty easily. And if 99 out of 100 stocks are gaping down or breaking down on earnings, it tells you a lot about the market. If stocks are not going up on perceived strong earnings tells you about the market. In bull markets, I'm giving you two important rules. In bull markets, bad news will not go down as much as it would and sometimes will go up. and good news will skyrocket. That's bull.

In bare markets, good news will not go up and actually will go down and bad news will be crushed. That's how it works. So we're always also keying in on what's doing what? What sector are they in?

And how bad is it getting? And of course, then we'll go through the numbers. remember about a year, year, I don't know, about 15 months ago I said, all our channel checks were telling us that PC business was heading south big time. Well, guess what they started reporting? PC's bad. And that was because there was cannibalization from COVID. Well, finally, they're coming out of it a little bit.

Nothing great. But these are the things we are constantly doing on a daily basis. again, arduous, sure. Worth it to us? Heck yes. Worth it to our people that we manage? Doubly yes. Worth it to our own money? Big time, yes.

And that's how we roll. So what we'll do tonight as we'll go through all these names. We'll look and see what they had to say. See of guidance was good or bad. I'm noticing Microsoft as I speak is only up 13 was up 20. So did anything else come out? I'll find out in a little bit. I'm noticing Google still drifting a little bit lower down to 130 from 138-881.

And again, we're in the midst of radio, so I don't know what the story will be. And of course, that could change. For all we know, Google gets on the conference call and said, yeah, well, those other numbers, but and the stock soars. That's the other part of the equation we want to mention, and we've never understood people. Don't play the aftermarket. I know people that love playing the aftermarket.

But how to heck you play an aftermarket on companies reporting earnings when they have conference calls? You don't. Up next, today's action, much more. 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.

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 miles 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 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. 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 app. your cousin's 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. 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 Coltbaum.

It comes highly recommended. You're going to feel better if you talk to him. And welcome once again to Investors Edge. By the way, we owned Google. We sold last Monday with a four-cent loss. Our decision was we didn't like the way the market was acting, and we knew earnings would have come out, and we weren't going to play that game.

And the stock actually went down a few bucks before bouncing, today and now getting a little bit trashed. We also sold Facebook, made a few bucks, and we also sold Nvidia, made a few bucks and watched that stock get trash before bouncing. And guess what? Facebook reports tomorrow. And we have no idea what they're going to say, but we'll be ready for whatever they say. Tomorrow also, by the way, before the open ADP, Boeing, General Dynamics, Norfolk Southern, Old Dominion Freight, Ryder, after the close, IBM, KLA 10 Cor, Facebook. So we got a lot of work to do.

Next, oh, we got a lot of emails today. So what do you think of the crypto? Because Bitcoin has broken out of range, which happened yesterday. Ethereum broke out of range. What we mean by a range yearly basis, one yearly high. On top of that, the things like micro strategy, which basically just owns Bitcoin up, but some of the other ones like Coinbase and others were much better today and fell back by the close.

Here's what the story is just so you know, is that supposedly, and I don't understand, because you have GBTC that mirrors Bitcoin to a decent extent. I know there's a discount in there. So there's been a process of getting approved an ETF for the Bitcoin. And supposedly it was approved, so Bitcoin, when you know what, to the upside, with that. Then the middle of the day today, it did not show up on the list, and then they dropped it, and then I don't know where it stands right now. Let me repeat my stance whether it goes up or down.

We will be technicians when it comes to Bitcoin. I will come on and Ethereum, and I really don't follow any others because there really aren't any others left. We will on a technical basis tell you, breaking out, breaking down, we are not going to tell you to buy cell shorter cover. We just want you to remember the genesis of all this. I don't even know what year it came out, but if you bought into B, I have a friend that told me, this is what they told me.

Don't know if it's true. That bought $10,000 worth of Bitcoin right around when it started and lost the key or the password and said the 10th, excuse me, $1,000 of Bitcoin, and it would be worth like $10 million, and they lost the key or whatever, and they can never find it, and they're beside themselves. So if you got in, like, at the initial stage, you are not listening to me right now. But all the noise, the biggest of noise, occurred after it was already up huge. and I think the high was 60 it's now what

34,000 this is just my opinion all it is is a speculative trading vehicle and the reason why Bitcoin Ethereum is still around while 22,800 and whatever are zeros

is because they came out first and it is owned by a select few people that will never ever sell and really can't sell or they kill themselves. And that's that. Not one person has ever taken me up on the question. What is fundamental about it? There are no earnings. There are no sales. It is nothing. Then they come back and they'll say, well, blockchain this. What does that have to do with you buying or selling Bitcoin and the valuation of it? They can't answer. So we'll just keep coming at you. Hey, broke out, broke down. We want you to remember they came out with a Miami coin

that's down, I think, 100%, if not, I know it went down 99%. They came out with this Doge coin as a lark, went from zero to 70 cents. I haven't looked it in a while. Let me see. Doge coin price, six cents, and I'm surprised it's even still there. And if you go to any of these, coin websites that have all the coins. What are they? Here, coin ranking. Let me see what I got. Is this the one?

Oh, yeah. And you can just go through them thousands and thousands of thousands of coins. I'm going to the last page. Is there 31,000 coins now they try? And all, you ready for this? These are all names of coins. Unipig, Frog, Halloween Sheba. I'm not making this up.

Flokey. Uniduck. I can go on and on. They try to foist all kinds of crap onto you that are all zeros, all done. Dennis Rodman came out with a pot coin zero. Mark Cuban came out with a coin that went to zero overnight the next day. So I'm just letting you know, one big, fat, gigantic, juicy bubble

where a few things are definitely there are other coins out there that are left standing, but most of them are zero. That's all. And there's nothing behind. Let's see. I'm looking. Something called Tether is still trading.

Solana still trading. But they're all now very, very low in market cap. And just be careful. Just be careful. Just be careful. You got that?

Just be careful. I'm actually showing, is that possible they did 31,000 coins? I thought it was only 23,000. I think it may be 31,000. And guess what that was? Those were just people trying to come up with the next Doge coin that they could make a mint on and move on. Okay? And again, I'm not telling you not to buy it. I'm not telling you to sell it, shorter to cover it. Just know what you're getting into. Everything we do here is about meat, meaty. That's why we never buy biotechs with no sales. Spacks with crapping put in them. Hugs of junk, we call them, and there's a lot of them.

And the list goes on and on of hunks of junk. And that's why we warn you about IPOs that are coming out as $5 bills, but are only worth a dollar. And then you wonder why you're crushed. That's what we do. We're like CSI here. We take the microscope out and we really ask what we consider to be not tough questions, but just logical. logical questions. You bought an

NFT? Why? It's not too, shouldn't be too hard. And as I said to you, I have some very good friends that did not listen to me. I said, please don't buy the NFTs and they did. And I know one of them spent 50 grand on an NFT and they

couldn't get a dime for it now. But guess. So my job is to be Mr. Logic. From A to Z. And logic dictates. If you just want to hand people over money, it's pretty easy to do on Wall Street if you're not careful.

And I know there's some other people out there that kind of do what I do, media and stuff. I can't believe some of the crap they try to foist upon you. So just be careful. It's so easy to lose a lot of money if you get too cute. But Bitcoin and Ethereum have broken out. Micro Strategy goes along for the ride. But I do have to tell you the other names I follow, very big specs. M-A-R-A was much stronger earlier.

R-I-I-T, R-I-O-T, much stronger earlier. Coinbase, I think, was up 10, finished up four and change. So not so sure. Up next, we'll give you the final numbers today. And whatever else. This is the one that only investor's edge. 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 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 miles 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 first? 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. 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 one. 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. Spreaker, 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. Ingestors' edge. With Gary Kulpaw. Okay. The final numbers today.

Nice comeback, and it was scary a little bit. The Dow was up 360. The NASDAQ was up 160. And then, midday, the Dow was only up 50, and the NASDAQ was up five. Uh-oh, another big reversal day. That's not good. Dow finished

204 S&P 30 NASDAQ 121 NASDAQ 100141 So good day Good bounce We'll see what tomorrow brings Let me update you

Microsoft is only up 12 right now In the after market was up 20 Google in the aftermarket right now is only down about six Was nine Visa is up four and a half in the aftermarket.

Okay, we'll take that. Texas Instruments, not very happy, down about seven in the aftermarket. And then some others, less known, Manhattan Associates. This is a name I've been following that's been strong. Just broke down the last week, down another $10 in the aftermarket to $179. And any else?

Let me see, anything else I really care. Oh, snap, flat down in the afternoon. aftermarket. Boy, that's Snapchat. Very, very bad. And in case you don't know, you know when they tell you to think long term, Snapchat was 83 bucks in 21. It's nine today. What do we tell you? Be smart. And a lot more earnings to report tomorrow.

Simple as that. In the news, I had a few things I had to share. By the way, I don't really get into the meat of the market. You already know where we stand. Most everything's in downtrends. Definitely got some bounces here. Hardly in the new yearly highs. There's still some stocks that are strong.

Abercrombie and Fitch retail remained strong. China had a good day today. Some of the Chinese names. I'm just going to throw you some symbols to look at tonight. P-D-D-E-D-U. M-N-S-O-T-A-L. Y Y and you can throw in N-T-E-S now. So some China receipts, but plenty of China stocks act like crap.

In the news, Facebook, Meta, is being sued by 33 states. Get this. Contributing to youth mental health crisis by inducing children and teenagers into social media. addiction. I'm sorry. I'm in a disagreement. They have a business. They just put it up there. Really? So parents, no responsibility? Nothing. It's the company. Yeah, so let's not put us up a social media company because we'll get sued by 33 states. Interesting. Quite the interesting. That weirded me out. In the news, San Francisco.

Microsoft is now dumping a ton of office space, 50,000 square feet in office space in San Francisco as the exodus of technology continues. And you know what they're calling it, a crime doom loop. You already know about the shopping centers and the retail stores and the like. San Francisco is now putting out advertising that, oh, they're overstating it. Meanwhile, I saw a video of a woman in a car that was being interviewed and said, I won't even go out at night. How'd you like to live there?

And by the way, the same goes for Oakland. How do you like to live there? In the news, European real estate stocks have fallen to their lowest price in nearly 12 years and down 50% since the onset of COVID. Don't even get me started on China. If there's anything I am worried about, you know, they always talk about these words black swan in my business.

What it means is something out of the ordinary, out of nowhere comes out and really crushes things. A black swan event would be what happened in 08. With all the criminal acts from the financial companies, like countrywide and the like, black swan. where we find out companies were leveraged 10 to 1, 20 to 1 on mortgage-backed securities that went by-bye, getting Bear Stearns and Lehman and Merrill out of business?

Black Swan. I really worry about real estate. I hear people worried about commercial. I worry about everything. Why? Because it's been a built-on 0% interest rates in the printing of $9 trillion from that one man. and now that's unwinding. And I just wonder where it ends up.

Just know right now, and I've said this 100 times, and here's 101, the big distortion of Powell now, everybody refinanced out to 3% and less on their mortgages. And anything new was 3% or less or in and around. We're now in and around 8%. Who the hell wants to sell a house to buy another house? to get 8%. You know, the new thing going on right now is trying to get somebody else's mortgage.

You assume it, but not many companies allow it. In other words, if somebody's selling a house right now and they have a 3% mortgage, okay, I'll buy your house, but I want to assume your mortgage. The problem is banks have no reason to let you do that if the mortgage is now 8. A little bit of that's going on. So I really worry about that.

Remember, Jay Powell did one thing, one word that created all kinds of havoc, wreaked havoc, all those bubbles that crashed, they created the inflation. The word is distortions. Distortions based on interfering with the free market. One man took rates down to nothing, or we would not have had the 3% more. mortgage. You would say to yourself, oh, wait a minute. So he did a good thing. No, because he screwed Aunt Mary and Uncle Bob with zero percent savings for all that time also. And it's sowed the seeds of all the other stuff. The meme stocks, the NFTs. I can go on and on. You get my point. All right. So lots of earnings. We'll see what happens tomorrow. Beats the heck out of me.

Hopefully it's good. Good bounce today. We'll see if it continues. You have a great evening drive carefully 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. And if you've got a sore throat, take a hauls. Have a great one, everybody.

Same time tomorrow. Peace out. Bye, bye, bye. 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. Guys, it's no use putting it off. The best time for an underwear refurb.

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