Investor's Edge with Gary Kaltbaum - En Fuego

Episode Date: June 15, 2023

Follow Gary on GaryK.com or http://garykaltbaum.com...

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Starting point is 00:00:00 At CVS, it matters that we're not just in your community, but that we're part of it. It matters that we're here for you when you need us, day or night, and we want everyone to feel welcomed and rewarded. It matters that CVS is here to fill your prescriptions and here to fill your craving for a tasty and, yeah, healthy snack. At CBS, we're proud to serve your community because we believe where you get your medicine matters. So visit us at cbs.com or just come by store. We can't wait to meet you. Store hours vary by location. Investor's Edge with Gary Coltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Coltbaum. And welcome once again to Investors Edge. I'm Gary Coltbaum,
Starting point is 00:00:50 your host day. Thanks of being with us today. Glad you're here, ladies and gentlemen, happy that you are listening. It is June 15, 2023. It'd be Thursday. And thanks for joining us. In case you don't know, this is serious talk on you and everything about you. The markets, the economy, your jobs, unemployment, all that crap. And the U.S. Open, which the golf tournament is now in full, and two of my players already stink. But such is life. The P.G. I took Ricky Fowler.
Starting point is 00:01:27 I didn't take him this time. He's seven under on 16. Oh, well. That's your golf report for the day. we've been starting the show with my back travails every day and I've had a couple of really good days. By the way, I'm bringing this up because just so you know, we're nearing 1,000 emails from the audience.
Starting point is 00:01:50 You. And in those emails, oh, yeah, me, me. What's happened to you, how you've handled it. Three plus weeks ago, I just had the, worst sharpest pains I've ever had in my life. And I've had broken wrists. And I mean broken wrists. You name the injury. And I have a high threshold for pain. So we've done everything we're supposed to do, went to the doctor, got the steroids. And the good news is with the steroids, inflammation down, everything better. Last night, I thought somebody took a cannon
Starting point is 00:02:29 and shot me in the back, just out of nowhere. And we got a hold of the whoever today, and they said, this is what you can expect for a while. It just doesn't go away that easy. What they have diagnosed me with is that I have a, the good news is no disc, no real problems, except the nerve is getting impacted. And you never know, with the inflammation,
Starting point is 00:02:58 and you just don't know. And, I mean, I'm thinking I'm fine now because I had two or three days in a row. Last night, holy moly. The amazing part of it, after all that pain, I was fine today. No issues whatsoever. Sat down, got up, did everything. Of course, I'm not running around. So everything you all have been telling me, you were right.
Starting point is 00:03:21 I was wrong. Everybody's been telling me it's not going to go away that quick. It's not going to go away that quick. And as you know, I'm in shape. I work out. I lift weights. I don't drink. I don't do drugs.
Starting point is 00:03:35 I don't even take Advil. Right now, I am, by the way, the extra strength Tylenol. So I thank you all for your help. I'm going to keep you up to date on it because it's like the travails of Gary's back. I'm talking to you on a personal basis. Anyway, but I will tell you, I'm heartbroken. Sunday's Father's Day and I really wanted to fly to New York
Starting point is 00:04:00 to see my father but I got to tell you I cannot sit without look out so it's Thursday I'm contemplating it it's a drive to the airport through the airport sit down on the plane I'm contemplating it I don't know you know
Starting point is 00:04:22 I'm heartbroken my Father's going to be 92 years old, and you don't know how many more Father's Days you're going to have. So I've got to figure that out this week. I canceled my Wimbledon trip. Yeah, I go every year, and I just don't want to be in London where they have the NHS, where you've got to wait seven months for things. And by the way, the wait time here is physical therapy. I have to wait 12 days. So it's just very busy the medical business.
Starting point is 00:04:59 But I do want to let you know the medical business is terrific. The RNs, the doctors here in Central Florida that I've encountered are terrific. Anyway, that's Gary's travails. Yay. All right. Let's backtrack. So for quite a while, we were just telling you, we owned
Starting point is 00:05:28 big cap tech mega cap technology stocks for quite a while we were sent by the way we just segue to the market we were telling you that it was the only game in town
Starting point is 00:05:46 every night on this show we would say to you oh there were 300 new yearly lows there's 15 new yearly highs for a very long time. And then here is what basically happened, I guess in a nutshell, NVIDIA Day. That was on May 25th.
Starting point is 00:06:22 The NASDAQ was already doing better, but the advanced declines in the NASDAQ were not that great. There were semiconductor stocks, that were starting to make moves the week before, but only a select few. And then NVIDIA Day. It woke up a bunch of what was considered to be software slash more semiconductors, and that was another part of the equation. simple as that but we were still telling you day in and day out avoid and we went through a litany of
Starting point is 00:07:35 areas to avoid and for good reason they were dead and we can also tell you as of may 31st I believe that was a Wednesday. It actually looked like industrials were ready to break down again. It actually looked that way. The health care, remember what we said, a new relative low. The commodities absolutely trashed. And we can go through every other area mentioned on this show. And we were right for weeks and weeks and weeks and weeks months.
Starting point is 00:08:33 Avoid, avoid avoid. On June 2nd, June 2nd was a Friday. By the way, avoid the small and the midcaps. On Wednesday of the week, we were just saying to you, we have this little inkling that maybe we're getting near the end of this complete underperformance and gross action in these places, but it was just an inkling. So Thursday, we had a good day in the market, and I came on the show and said, okay, we had a good day today, but I must tell you, I'm not convinced yet.
Starting point is 00:09:22 June 2nd changed everything on June 2nd we had this massive a very strong broad market move and we showed our peeps and we told you
Starting point is 00:09:42 look at what the small caps did the midcaps did look at what the regional banks did and just look at the financials Look what they did. Look what the industrials did. That day they had this really strong move, which basically broke the back of that big downtrend that was going on. I can say it for months, for months.
Starting point is 00:10:13 And ever since, more and more and more. And then we got this, for lack of a better word, this pile on move. on artificial intelligence names, an absolute pile on in artificial intelligence moves, to the point where we had moves in some names we haven't seen in, I can't begin to tell you. We call them vertical moves. They went vertical. And all we can tell you, I came into tell you. I came into today
Starting point is 00:11:05 thinking we're due up next we'll talk about today and whether we're due this is the one only Investors Edge Hi, I'm Gary Kalbaum hosted a nationally syndicated radio show Investors Edge
Starting point is 00:11:39 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 complementary portfolio review.
Starting point is 00:12:16 The number to call is 888-422-559. That's 888-4-2-2-5-5-9. That's 888-4-2-2-5-5-9. Investment Advisory Services offered through Colbaum Capital Management. Hello, hello. I'm Malcolm Gladwell, host of the podcast Smart Talks with IBM. I recently sat down with IBM's chairman and CEO, Arvin Krishna. And I asked him, how can companies use AI?
Starting point is 00:12:49 to its fullest potential to create smarter business. My one advice to them, pick areas you can scale. Don't pick the shiny little toys on the side. For example, if anybody has more than 10% of what they had for customer service 10 years ago, they're already five years behind it. If anybody is not using AI to make their developers who write software, 30% more productive today, with the goal of being 70% more productive.
Starting point is 00:13:25 Yeah. Wow. So we are not asking our clients to be the first experiment on it. We say, you can leverage what we did. We're happy to bring out all our learnings, including what needs to change in the process, because the biggest change is not technology, is getting people to accept that there's a different way to do things. To listen to the full conversation, visit IBM.com slash smart talks. Today's episode is brought to you by Simple Mills,
Starting point is 00:13:59 from their crackers to their cookies to even more of their delicious feel-good snacks. Simple Mills packs nutrient-dense ingredients into snacks that taste amazing, like their cheesy, light and airy pop-ums, or their five different delicious flavors of almond flour crackers. Because snacks should do more than taste good. They should make you feel good, too.
Starting point is 00:14:22 Simple Mills does that with purposefully chosen real ingredients like almonds sunflower seeds and butternut squash creating snacks that help you feel bright and energized lifting you up never weighing you down
Starting point is 00:14:38 so you can keep shining through the day you could say Simple Mills is the feeling of the sun in a snack find Simple Mills at your grocery store 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.
Starting point is 00:15:07 Investors Edge. The last bastion of quality programming. With Gary Coltbaum. It doesn't get better than this. And well, once again, to Investors Edge. So I pretty much came in today thinking, and it really didn't affect anything I had to do. On the NASDAQ, man, we're about as stretched,
Starting point is 00:15:49 extended a big gargantuan dose of recent bullishness that I haven't seen in quite a while and it's kind of happened in short order pretty much over the last three or four weeks
Starting point is 00:16:08 and really getting in sync well really getting going on May 25th off of NVIDIA take away all the BS and the Fed and all that other stuff, the NASDAQ was up 156 today, and the NASDAQ 100, 179.
Starting point is 00:16:43 And even though stretched and extended, Microsoft up another 10. In the aftermarket, even though stretched and extended, Adobe, which just had a run off of AI reports earnings. they were a little better than expected. Stock closed at $4.91. It's $5.10 in the aftermarket.
Starting point is 00:17:13 Another $19. And of course, that can change to the upside or downside depending. So let me just repeat something going into tomorrow. We are about as stretched and extent as I've seen in, I can't remember. And what we're talking about is on a near-term basis. meaning it went this far in this short period of time. That's what we mean by that. And of course, the same goes to the downside when you got into bear markets.
Starting point is 00:17:56 That said, in order to get this stretched and extended, in order to get there, you got to go up. You got to be strong. So on one end, manor we do. On the other end, boy, is this strong. And now Adobe stretched and extended, ain't mattering. They got it up again. And of course, the announcement of they're doing artificial intelligence up the wazoo. And by the way, their earnings are up, revenues up 9.8, which is fine.
Starting point is 00:18:51 earnings up in the low teens that's fine but for these moves you'd expect 200% earnings growth so wow I can say it again we're stretched and extended but what the heck do I know the only thing that came down today just so you know the semiconductors pulled back which is normal Tesla had another down day oh my goodness gracious but these things would be normal to pull back. But we are, the last three weeks, rarefied air. It's the best way I can put it.
Starting point is 00:19:38 Not often. Does not happen often. The moves we're seeing just does not happen often. We're getting all kinds of emails worried. Isn't this 99 again? out. I got newsfea. That last move in 99, it lasted five months. This just started. If only. So what we'll do is, every day, stay on top of it. But it got stronger again today.
Starting point is 00:20:23 When very easily did not have to. So strength. And we're getting emails already. what's wrong with Tesla. It was down on a strong up. I got news for you. It is normal as all normal for any stock right now to sit around for a couple of weeks and then keep going. Strengthen financials
Starting point is 00:20:55 today. Strengthen economically sensitive. Strengthen the transports. Strengthen medical. Strengthen oils for a change. Bouncing the managed care that got slaughtered yesterday. Autos, auto dealers, fine. Energy bounce too.
Starting point is 00:21:10 advance declines pretty darn good you know me i love to complain i really can't complain and that's the whole take and yeah i came in today and that's why we're not on the you know on the short-term stuff we're thinking pretty much boy we do and the more futures this morning we're down. And I'm thinking, yeah, we're going to have a nice little pullback today. And they just came in and just started buying up, led by Microsoft. And I gather if Microsoft's going up, and now we'll see what Adobe does for things tomorrow. It's not as big a bellwether as Microsoft, but it ain't the news.
Starting point is 00:22:22 It's how the market reacts to. by the way they raise guidance seven cents what do you do but again this artificial intelligence thing has this thing rolling and for me rates a big wow and for me also a lesson we haven't had this in so long that expectations are low but when you see good action you always give things a chance. I've told you here, we had a couple of great stocks, double digits in a couple of weeks we made, and we cut them off. Guess what? They went higher. A couple of them didn't go higher. A couple of them did. That's where you just have to play by your rules. The two stocks I sold never broke support, but you get used to, hey, this market's not doing much.
Starting point is 00:23:32 double digits in three weeks. Another lesson learned. Up next, we'll give you the numbers and whatever else. I'm Gary. This is the one only investor's edge. Hello, hello. I'm Malcolm Gladwell, host of the podcast Smart Talks with IBM.
Starting point is 00:24:05 I recently sat down with IBM's chairman and CEO, Arvin Krishna. And I asked him, how can companies use AI to its fullest potential to create smarter business? My one advice to that. Pick areas you can scale.
Starting point is 00:24:20 Don't pick the shiny little toys on the side. For example. If anybody has more than 10% of what they had for customer service 10 years ago, they're already five years behind it. If anybody is not using AI to make their developers who write software 30% more productive today, with the goal of being 70% more productive, Yeah. Wow. So we are not asking our clients to be the first experiment on it.
Starting point is 00:24:53 We say you can leverage what we did. We're happy to bring out all our learnings, including what needs to change in the process, because the biggest change is not technology, is getting people to accept that there's a different way to do things. To listen to the full conversation, visit IBM.com slash smart talks. 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,
Starting point is 00:25:37 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 kick 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.
Starting point is 00:26:06 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. A podcast from CVS Pharmacy and IHeartRadio. Listen now wherever you get your podcasts. Today's episode is brought to you by Simple Mills. From their crackers to their cookies to even more of their delicious feel-good snacks.
Starting point is 00:26:39 Simple Mills packs nutrient-dense ingredients into snacks that taste amazing. Like their cheesy, light and airy pop-ums. Or their five different delicious flavors of almond flour crackers. Because snacks should do more than 10. taste good. They should make you feel good too. Simple Mills does that with purposefully chosen real ingredients, like almonds, sunflower seeds, and butternut squash, creating snacks that help you feel bright and energized, lifting you up, never weighing you down. So you can keep shining through the day. You could say Simple Mills is the feeling of the sun in a snack. Find Simple Mills at your grocery
Starting point is 00:27:21 story. 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.
Starting point is 00:27:47 You're going to feel better if you talk to him. And welcome once again to Investors Edge. Thanks for being with us today. Back pain and all. You guys, I'm sure you've, you know, I got the emails. When you have a nerve, the nerve, doing its thing. Holy crap. And when it happened again yesterday, last night, I was like, wait, what?
Starting point is 00:28:35 I thought, just so you know, I thought it was over. I went two days without anything. And just out of nowhere, boom. And I knew it. And then for a few hours, it just kept coming back. finally, you know, just it goes away. And today, nothing. Like it never happened.
Starting point is 00:29:06 Welcome to my world. And I'm sure I'll do this again. Thank you to everybody. You're all kind. The market wrap is brought to you by Investment-Models.com. That's Jim Rohrabach, one of the great market timers. No gray areas with the man you're either in or out of the market. is proprietary indicators.
Starting point is 00:29:33 Go check it out. Investment dash models.com. Dowp 428. It was up over 500. Microsoft was up 75 Dow points. United Health bounced 8. So that's about 50 Dow points.
Starting point is 00:29:55 After getting demolished yesterday. McDonald's up for rally to back above the 50-day moving average, which tends to happen as the market gets better. Caterpillar up another four. That broke. Caterpillar was the stock I named the day January 2nd when the dead woke up. And just nothing was down. There were three stocks down in the Dow, very minor.
Starting point is 00:30:24 Just everything else was up. S&P 53, NASDAQ 156, NASDAQ 156, NASDAQ 1079. and that's off the highs. NASDAQ was up like 190 something at one time. Transports 226. They showed up a couple of days ago. The semiconductors were down today, down 32. But one would say quite normal.
Starting point is 00:31:00 So, a few things. Number one, keep your feet on the ground, by disciplined. this is a rule. You may want to write this down. When the markets get very stretched away from the norm, either on the downside or the upside. On the upside, expect some scare days that should not shake you out
Starting point is 00:31:38 on a market that probably wants to go higher. On the downside, as you're getting smashed and crashed, out of nowhere, you get three, 400 point up days that are doomed to fail. The way we're looking at this right now, continually, all pullbacks, viable. Simple as that. Whether or not you get another pullback ever is another story. Of course, that was sarcasm. But in bull markets, we always have this line. Markets never going down again. Now, we watch and we listen and we particularly right now, we tell you not to pay attention to them, don't listen to them, but we do. because we just want to get a feel for how everybody feels.
Starting point is 00:32:53 The boo birds are pulling their hair out, calling bubbles, doomed to fail on a daily basis, and then it's another day up. We listen, we pay no attention. And of course, the charlatans that killed you in the bear market told you so. Believe it or not, that's what you get. Told you so.
Starting point is 00:33:23 Yeah, I know my sister's down 70%. But they're back up nicely. Now we also get asked about labeling. Kids, we're in an up trend for stocks. Call it whatever you want. The Dow was only up 2% this year before today. The Dow hasn't done anything. The S&P has.
Starting point is 00:33:54 And the NASDAQ, of course. And we have no clue where she stops. We don't know, but I'm going to give you some numbers here. The NASDA closed today at 13,782. The 50-day moving average is at 12-5-15. Last I looked, that's 1267 points below. Why are we bringing that up? Because it is a guarantee eventually price and that 50-day moving average will meet.
Starting point is 00:34:33 that was not said to scare you because guess what you can meet at much higher prices that's how it works would we be surprised the nasdaq 13782 is down 400 points in the next two weeks nope is that my bet nope but stretched extended is beyond the beyond right now out of the norm outlier to the point where even the super tank or apple doesn't stop. So we'll just, as always, take it day to day and see what the next day gives us. I have yet to scan, but there's new merchandise showing up each day, breaking above some ranges. You just got to decide on the merchandise. Dollar was down, who cares? Ten year yield was down. Who cares? Oil was up two bucks.
Starting point is 00:36:01 I care. You should care. That's the gas pump. What is the market telling us? After all, recession, depression. What have I said to you on this show? We've said a couple of things. Number one, there's no way the people that are telling us 3,300 S&P are going to be right
Starting point is 00:36:24 because of what we're seeing in the market. And then the people recession, depression, what have we been telling you? Number one, we said we don't think that can happen fundamentally unless the job market sinks and that has not happened. But the other part of the equation is what is the market telling you? The market's the big vote. And all I can tell you is the broad market woke up on June 2nd. And anything from airlines to cruise lines are going up neatly and nicely. Last eye look, that's the economy.
Starting point is 00:37:01 Discretionary spending. And that's the story. We, when wrong, be wrong fast and be wrong small, when right, try to let them run. But you're in an up trend now. Anybody who says otherwise is full of caca. And again, we'll see what tomorrow brings. And by the way, we have a three-day weekend coming up. And my back's going to need three days.
Starting point is 00:37:34 I think I'm going to lay in a pool for three days. By the way, that's very soothing. And that's the take on the moment. markets. I can't wait to scan every night right now because every day some things show up. Up next, this, that, and the other thing and whatever else. This is the one only investor's edge. Hello, hello, I'm Malcolm Gladwell, host of the podcast Smart Talks with IBM. I recently sat down with IBM's chairman and CEO, Arvin Krishna, and I asked him, how can companies use AI to its fullest potential to create smarter business?
Starting point is 00:38:52 one advice to them. Pick areas you can scale. Don't pick the shiny little toys on the side. For example. If anybody has more than 10% of what they had for customer service 10 years ago, they're already five years behind. If anybody is not using AI to make their developers who write software 30% more productive today, with the goal of being 70% more more productive. Yeah. Wow. So we are not asking our clients to be the first experiment on it. We say, you can leverage what we did.
Starting point is 00:39:30 We're happy to bring out all our learnings, including what needs to change in the process, because the biggest change is not technology, is getting people to accept that there's a different way to do things. To listen to the full conversation, visit IBM.com slash smart talks. Hi, I'm Dr. J. Goodman, host of Beyond the Script. 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 CBS 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,
Starting point is 00:40:28 I just, I have a stomach kick 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.
Starting point is 00:40:56 a podcast from CVS Pharmacy and IHeartRadio. Listen now wherever you get your podcasts. Today's episode is brought to you by Simple Mills. From their crackers to their cookies to even more of their delicious feel-good snacks. Simple Mills packs nutrient-dense ingredients into snacks that taste amazing. Like their cheesy, light, and airy pop-ums.
Starting point is 00:41:22 Or their five different delicious flavors of almond flour crackers. Because snacks should do more than taste. good. They should make you feel good too. Simple Mills does that with purposefully chosen real ingredients like almonds, sunflower seeds, and butternut squash, creating snacks that help you feel bright and energized, lifting you up, never weighing you down. So you can keep shining through the day. You could say Simple Mills is the feeling of the sun in a snack. Find Simple Mills at your grocery store. We're listening to.
Starting point is 00:42:09 What are you waiting for? One, two, ready, go. In The Gester's Edge. With Gary Culper. A ticket master, seat geek, and others are now going to do all in pricing. Remember I told you I was thinking to go to the Masters, and they advertise a price for the ticket. And then you, I wasn't getting it, but I went in, you know, I went in,
Starting point is 00:42:59 looked at it, and then you go to the point where you're paying for it. And all of a sudden, it shows up 30% higher. Oh, it's this, that, and the other thing. And I'm thinking to myself, are these people just, you know what it is, by the way? They have monopolies. They really do. There's only a few of them. Ticketmaster, seat geek, vivid seats, a couple others.
Starting point is 00:43:29 And they know they got you. And I always think it to myself, why don't you say what the price is? Why do you have to go through three different clicks on your computer to get to the point where you say, oh, that $1,400? And by the way, that is not an exaggeration. Pretty much when I looked at the Masters, it was like 35% higher. And it's not just that. You ever do these travel sites? My favorite is the hotels.
Starting point is 00:43:59 You got the, what is it, kayak? Expedia, kayakers like all of them on there and these others. And what they advertise to you is these prices and low prices and this and that and this and that. And then you put in your, okay, here's a hotel, $300 a night. Terrific. And then you click it and then you go to where you pay, $3.80. And then they give you the news. Oh, this is a so-and-so website.
Starting point is 00:44:34 and the fees to this and that. And I'm just thinking to myself, why don't you just say $3.80? Do you know why? Because they want to entice you with the low number that you're actually not paying, which is ridiculous. So I don't usually compliment Joe Biden,
Starting point is 00:45:00 but they're the ones that have been pressuring these companies. Good on them. We don't mind that. Anyway, we just believe in fair and full disclosure. You know, my fate, you ever wake up at one in the morning? You know, my dog wakes me up. And you turn on the TV. And you got a guy on there that's, you know, is about as buffed as can be.
Starting point is 00:45:27 Hey, if you do what I do and take these pills, you're going to look just like me. And then at the bottom, Superman can't even read the size of the letters. Oh, unique example only. You're going to have to run 12 miles a day and eat 100 calories each day to get that way. In other words, it's bull crap. And you know, the other pills for the prostate. By the way, the FDA has not said anything about this, but you know, come on here. And here's the amazing thing.
Starting point is 00:46:02 They sell bazillions of these things. Just full and fair disclosure. What they get away with is beyond the beyond. In the news, hey, just so you know, billionaire SPAC kings are being dragged into court for their not criminal activity because what they did was not criminal, but for their money grabs where they brought out these SPACs, merged them with, hunks of junk, big hunks of junk, cashed out, and they're all down 90%. Remember, I started in the business at a penny stock firm. We did blind pools. We did blind pools. These are blind pools. That's all they were. They just changed the name. And for me, all these billionaires, they're a bunch of scumbags that brought out these spacks with
Starting point is 00:47:09 crappy companies, and let me be clear, 99 out of 100 of them were a bunch of bull crap, just letting you know. And none of them are in trouble, just so you know. They're being brought into court and stuff, but nothing's ever going to happen to them because it was totally legal. in the news the attorneys for Trump
Starting point is 00:47:42 have now come out and stated on a dozen occasions they told him he was going to be up you know what's Creek without a paddle if they don't return every document
Starting point is 00:47:58 and Trump slow walked it these are the attorneys talking by the way they he lost attorney client privilege. He slow walked it, lied about it, try to have the attorneys lie about him. That is what's now coming out. And I'm telling you, if anything's going to get him, that's the obstruction. And I must tell you, I have no use for the guy, but going forward, I don't know how it's going to play out, because you don't know who's going to win, who's going to do what. I can't wait to
Starting point is 00:48:30 get past this crap. And remember our stance. If Donald Trump was a friend of, it wouldn't have been investigated. These people in the Justice Department give their friends a pass. They've slow walked Hunter and Joe Biden, leave no doubt corrupt as corrupt can be. They gave Hillary Clinton a past. Corrupt as corrupt can be. Welcome to our Banana Republic. That I completely agree with. That I completely take Trump's side on. That said, he's his own worst enemy. And I got to tell you, God only knows we're going to end up in this presidential election. I still have the feeling.
Starting point is 00:49:20 I have the feeling that somewhere that Gavin Newsom of California, nice little Marxist there, is lying in the weeds to get involved. Robert F. Kennedy, I think, is polling 19%. And you never thought this would ever happen. The left is given a Kennedy the middle finger. And he's a weird dude anyhow. And that's a little bit of the news of the day. So you all have a great evening.
Starting point is 00:49:54 Hope you don't have any back pain. Drive carefully. And when you get home, do like we do, well, I'm going to a pool right now to make sure you hug your family. Make sure you hug your children. and they will feel better, you will feel better, I promise. Thanks for call joining us. Peace out all.
Starting point is 00:50:12 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. Success starts with your drive, and American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills, and confidence to move forward. Whether you're changing careers, starting fresh,
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