Investor's Edge with Gary Kaltbaum - End of Year [12.29.2025]

Episode Date: December 29, 2025

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glad you hear ladies and gentlemen happy that you are listening it's monday december 29th as we head into the end of the year hope you had a good weekend, hope you had a good holiday week last week. If you celebrate Christmas, I was up in New York City for the snow. We got snowed a little bit. I love snow. I hate when it's cold, but no snow. I love snow. And back in Florida for the New Year's and all that fun stuff. Hey, a few things. Every now and then, we get done. dozens and dozens of questions about the same thing. We're going to answer the questions of the dozens and dozens we got today over the weekend on today.

What is going on with the metals? B. This whole thing going on in Minnesota. We got asked going into the new year, what is the cheapest in the market? And will AI blow up? Is it a bubble? Amongst other things. We'll do all of that.

But first, in case you don't know, this is serious talk on everything that affects you, will do the markets, the economy, your job, your industry, anything that emanates from Washington, D.C., that continues to stomp on our head. Just remember, affordability is not a hoax. Just want to let you know. it is not good out there. I do pretty well. I complain the amount I have to pay for insurance,

trying to buy a house, autos, prices are ridiculous, and those are things that you need. The food, go look at the chips in the supermarket. The party size is now the old regular size. The regular size is just about the small size. Chalklets, what used to be the little Hershey's things, they put in the big bag that used to go for 999, 1099, now 1599. And go on and on and on and on.

The list is up there. Are there anything down in price here, of course. Meat, forget about it. So just letting you know, we get it. We understand it. 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 X-Feed. You'll follow us that actually should.

We'll also post it on podcast apps as well as the YouTube channel, BizTV. And if you like to email us, just be nice. So where do I want to start? First off, with pre-taping this show, it's a little after 3.30 right now. So we'll take it to the end of the day. overnight the metals gold silver but that's nothing palladium and platinum these things have gone skyward as of recent i'll give you an idea p a l is the palladium it's down twenty five dollars today to one fifty and change but it went from 140 to one seventy-eight

in eight days. Two days ago it gapped down, gap back up on Friday, gap down, what's going on here. Then there's the platinum, that was palladium, down $26 today. By the way, that's off the lows. They were both down around 30, down 12%. Silver is down 7% today. I will tell you this at one time today. It's 6392 on the SLV at 6617.

So already buyers are coming in a little bit. What do we think is going on? And gold. Down 4.5% today was a little bit worse. First off on the platinum palladium, I don't know. They kind of went vertical over the last few days. What made them gaped to the downside today? I don't know.

With silver, all I can tell you, it's had a straight shot move. It got extended to the upside and got a pullback day. Why does it gap? Because these things trade overnight and gold the same things. Now, I can tell you, silver is much stronger than gold right now. What do I think happens tomorrow? I have no idea. What would I have done today if I own the platinum palladium? Probably would have sold. But when you don't own something, it's really tough to answer what you would do because the psychology of owning something and then gap to the downside. not easy to really come up with an answer. All we can tell you, they're still in major uptrends,

but if I was to guess, you probably hit a pretty good wall on Friday, and you probably got some work to do now. Backing and filling, filling and backing. That said, I thought that was happening Wednesday, and you had a major gap to the upside on Friday. So who the hell knows? Not easy.

Now the next part of that question is, well, what do you think is happening with Bitcoin and crypto? Has gold and silver and these other things taken over? Well, I can tell you as fact, the answer is yes. But is there a cause and effect there? I don't know. All we can tell you is Bitcoin crypto is bearish. It's in a bare market. nobody that goes on tube says it's in a bare market

and that's that bare markets there are certain characteristics of bare markets they last longer than anybody would ever believe they will go farther down than anybody will ever believe every update they'll call the bottom that's bare markets for you so where it ends we don't know what we have told you to do is avoid the crypto

what has our interest is this is all in the face of an administration that has their family neck deep in crypto and keeps touting it on a daily basis. You have an environment that is supposedly positive for this whole crypto thing. All we hear about every day is crypto this and crypto that. mining this and mining that. All we can tell you, it's in a bare market. And we'll let you know if we start to see a sign that things are going to get better.

But I'll give you a couple of numbers for those of interest. There are two ETFs that basically are Bitcoin. One is IBIT. The good news I can give you is, It's holding the lows over the three, four, five. This is starting the six week. If those lows get taken out, we expect a vicious drop to occur at that juncture. It has not been taken out.

The number would be around 4668, somewhere in there. The GBT, another one, 6440. is the low, though I must state for the record, I would suggest watching 6598 first, and on the I-B-I-T, we'll call it 4787. You've had little whipsaw at the bottom there, so I'm giving you the first low on the second one. But if it all gets taken out, I expect some really vicious selling from there. If, And the same goes for the Ethereum, Ethereum, that's the E-T-H-E, watch 2277 and then 21-96. And of course, we'll say you're welcome again.

We warned you about micro-strategy that we thought, we have others calling it a scam. We have others calling it a scheme. We call it a bare market that has been accentuated because of the leverage involved. and for the life of us we don't get it. We don't understand it. It's gone from 457 to 156 since July and the CEO continues to go out

like it's no big deal. We expect Bitcoin to be 1.3 million, then 12 million. He's called for like 13 million. I think they're all freaking insane. I think it's Looney Tunes, kids. If it turns bullish, we'll let you know. But we wanted to start with the medals. We got it to the Bitcoin.

The next thing. Do you think artificial intelligence stocks are a bubble? Do you think artificial intelligence is a bubble? Well, I don't think artificial intelligence is a bubble. I think a lot of the stocks are. And in case you don't know, core we've highly touted, is down in the 60s. Percentage.

That's already a bubble that popped. Oracle. Hit the 50s. A bubble that popped. Up next, we'll expound on that. I'm Gary. This is the one only Investor's Edge. Hi, I'm Gary Kalpom, hosted a nationally syndicated radio show Investors Edge. We're not just handsome radio people.

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Hey, this promises to be fun. Investors Edge. The last bastion of quality programming. With Gary called Bob. It doesn't get better than this. So, I've already given you two stocks where I think bubbled up and popping. What do you say? 50 and 60% is a pop?

But I got news for you. Symbol B.E. Has gone from 148 to 88. These are all supposedly crypto names. How about CRDO? 214. V-R-T, this one isn't so bad. 202 to 165?

That's not as bad. That's only down about 20. But we're... Super Micro. Oh, what did they tell us about that one? It's gone from 66 to 30 this year with the old high of 123. to 30. So yeah, there are bubbles popping on an individual basis. Will the whole break? I'm not so sure. What we're going to do is take it stock by stock and we'll see how it goes.

What is my biggest worry? Well, my biggest worry is my biggest worry of this administration also going into the election. My biggest worry. Over-promising. With the administration, the golden age stuff. Affordability's a hoax. You know that. The latest one is going to be the greatest tax refund in history. I got news via that line.

It's all relative. But when it comes to these companies in artificial intelligence, in my humblest of opinions, and maybe my abacus is rusty and old. But some of the numbers they have promised and predicted on, they're calling backlogs, and this, that, and the other thing, number one, the numbers don't make sense. They don't make sense the numbers on twofold. Number one, how big the numbers are. But the other part is, how is it possible to make a dime off of these numbers?

Just remember, these are expenses for companies. You know, all companies have revenues and expenses. You know, if you start a lemonade stand, your expense is going to be the Dixie Cups and the lemonade. and if you're making it the lemons and whatever else you add into it, sugar, whatever that may be, an expense. So if it costs you 25 cents for a cup of lemonade and you sell it for a dollar, you're making 75 cents per cup. It's good news. I don't know how the numbers that are being predicted has any chance of making any money. and I just wonder if there will come a day

where one of these big machas comes out in states. You know, we gave out that number, but, and then you know what happens then, little all heck breaks loose. And again, we're not predicting this. This is not a prediction. It is an outline of some of the numbers we have received. It's just like, you know, how we outline micro strategy to you?

That we, I think before Bitcoin even topped, we had said to you, geez, Bitcoin's at a high in micro strategies down so-and-so percent. What have Bitcoin dropped 5 percent? That's exactly what we said. You know, Bitcoin topped out on October 6th. Micro strategy stock was at 365 down from 457 from 10 weeks before. And guess what happened? All we're just doing is putting a little one plus one equals two. So watch it closely and of course you watch some of the main names.

You should be watching, of course, Nvidia. Broadcom, which just got hit on earnings. Microsoft, I would suggest. We'll continue to watch Oracle, but it's been going into the depths of hell. And some of these others that I mentioned, I just don't understand the predictions and the ability to make any money off of it. So stay tuned. We'll be on it. Next, what's cheap?

Oil stocks are cheap versus the market, but there's a problem with that. it's all dependent on oil prices. So cheap as they want to go, if oil prices keep going south, sorry, what else is cheap? Housing stocks. I got told brothers trading at 10 times earnings. Am I right?

137, let's see, 830, 930, 10, 30, 11, 30, 12. Yeah, it's trading about 10 times earnings. with a market that's trading around 25. Why isn't Toll Brothers going up? Why aren't the housing stocks going up? Well, because they're very cyclical. And earnings are starting to drop. Lenar, earnings dropped in the last four quarters,

23, 48, 49, and 50. And even with that drop, it's 13 times earnings. Still cheap. Knowing they're all cheap and whatever is cheap, we'll keep an eye on. them. But if they're in bare phases, bare markets down trends, we have no interest. But yeah, we know what's cheap. We know price earnings multiples. But we also know what a bull or bare market looks like. Cheap. Cheap is all relative. And sometimes you ask yourself the question,

why are they so cheap? What does the market know to make them so cheap? What is the market know to make them so cheap? Has the market figured out something? Does the market think earnings are going to fall off a cliff? Well, they happen to be in Lenar they have. Toll Brothers not bad. Last three, well, four quarters ago, minus 22, but the last three quarters earnings were flattish. Not dropping like a rock. What about in growth? Not finding much. There are some things cheaper than others, more expensive than others but I must tell usually in growth the more expensive the better up next what the hell's going on in Minnesota that's up next on Investors 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

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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 Sprecker. 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 cousins swears are the next big thing.

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The crowd is just on his feet here. He's a Cinderella boy. With Gary Colbomb. It comes highly recommended. You're going to feel better if you talk to him. And what, once again, to Investors Edge? It's about 3.50 p.m. And it's a very mushy day in the market.

We'll give you the final numbers in a few minutes. There aren't any earnings reports this week. Before we get into, well, you know what? We'll do this now and then we'll do froth in a little bit. So the big story going on right now, that's not being reported by the media, and that's how you know it's bad. And let me be clear, we have ripped the media a lot. They've earned it all.

So in case you don't know, there's a big thing going on in Minnesota. And here, let me start out with the shame of it. Many people paint everybody with the same brush. So it turns out a lot of Somalians are committing or being accused of massive fraud, creating companies to get government money, a child care centers, medical type centers, autism centers, and collecting crap, loads of money.

And it's not just one, but it looks like dozens and dozens and dozens and dozens and dozens and dozens of these things. They found a restaurant in Minneapolis that seats 35 people. They claim to serve 18,000 meals a day to hungry children, and the federal government paid them for every single one of these children. that did not exist, the meals did not exist, but they got all that money. Here's the shame.

All the Somalians get painted with the same brush of these crooks that did all this. And of course, the governor's getting ripped the stuffings. The people that are supposedly overseeing this and at oversight are getting smoked, and they should be. They should be. But let me give you the bigger story. It's a drop in the...

bucket it's a drop in the bucket if if an administration or a justice department really did their job on this they would find it in many states and many people not just some people from Somalia it just happens to be an industry in many Minnesota this is not a one-off it's an industry. It took some person on YouTube to post a 42-minute thingababab on Twitter, went to dozens of these places, and there were no children, yet these places were collecting millions of dollars. It looks like it's going to turn into the billions. They've already arrested a bunch of people. And of course, as usual, these crooks, they're so weird. Why is it every one of these scammers and crooks always does the same thing.

Buy a Ferrari, buy a Mercedes, buy a Birken bag and a Louis Vuitton and go on vacation to the Maldives. They all do the same thing. But I want to repeat something. This is an industry. Whether it was that Stacey Abrams, who by the way, you know what I found out? This is great. Lee Zeldin, who is one of the whatever for the Trump administration, clawed back the whole $2 billion given to her scam company that she created.

Biden gave her $2 billion of our tax dollars for nothing, but it's an industry. And let's take both sides. This president is pardoned a bunch of scammers, A bunch of white-collar criminals that stole hundreds of millions of dollars from people, and they're getting pardoned out of jail and don't have to pay the restitution. You think I'm happy about that? So as you can see, I'm no fan of anybody. Trump can't come out and blast this.

He's pardoning people like this. Anyway, it's an industry. You should go look this up. The guy's name who put it up on YouTube. is Nick Shirley, S-H-I-R-L-E-Y. It's 42 minutes of just crux. And unfortunately, it's all Somalians in Minnesota. And boy, are they getting a bad name now.

So law-abiding Somalians are going to be painted with the bad brush. That's the shame of this whole thing, besides the crookery. But I'm just letting you know, there's bazillions of this. and do you know how it happens? We have a government out of control with how much is spent through government, how much is given out through government and there's been no checks and balances

and this is how you get there. This is how you get there. But go watch that. I couldn't believe what I was saying. He was going to these child care centers with no children. A learning center spelled L-E-A-R-I-N-G. And of course you had the apologists out there Oh, it's all white supremacy and it's all racism

I don't care Crook is a crook is a crook I don't care if you're Somalian or An alien from another planet Doesn't matter to me Crooks a crook's a crook That's all Anyway so

And of course We're finding out that all these scam companies donated a bunch of money to the politicians who better not be a part of this because they will be found out. If our Justice Department does their job, they're going to need to go through a lot of bank accounts and see where things were deposited, what it was spent on, and all that fun stuff. But the game is up. And you're going to see it's not going to just be Minnesota. It's going to be other states. and we'll let you know.

Does it go as high as some of these real mucky mucks up in Minnesota? I would have no idea. But I gather we're going to find out. So we got a lot of questions on it. We thought it answered. And again, the thing that sucks, it really does. Law-abiding Somalis now come under that same brush. And that's what's going on today.

Everybody's talking about Somalians. No, it's crook. This is a crook. This is a crook. That's a crook. And we'll find out how bad it was. And I want to repeat, tip of the iceberg. It's the freaking tip of the iceberg.

It's been going on forever. Do you know how much money was stolen through the COVID crap? Pay whatever protection, whatever? Zillions. A lot of people getting arrested for that, getting the money back whatever's left. Why? No checks and balances.

They rushed the money out, and I guess they had to because businesses were shut, but no checks and balances, but I guess some people are doing their job now. When a government spends over $7.something trillion, there are going to be a lot of bad people involved, including the top down in Washington, D.C., including. We've seen it in plain sight. And it sucks. And it sucks. On both sides of the aisle.

And it sucks. That's why we have absolutely no love for any of them. We've lost all like for any of them. All we care about now is policy. We do not care about characters. That's it. We're always weirded out by such love for politicians, regardless what they do or what they don't. Up next, we'll wind up the market for you. And a little bit on the froth. Yes, you're welcome. I'm Gary. This is the one only investor's edge.

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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 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 Sprinker makes the whole process simple. You record your show, upload it once, and Sprinker distributes it everywhere people listen, Apple Podcasts, Spotify, and about a dozen apps 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. 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. Action! In the Gester's Edge. With Gary Kulp. All right Dow down 248 S&P down 24 NASDAQ 118 NASDAQ 100

118 Russell was down about 6 tenths of 1% The midcaps About 6 tenths of a percent Just a mushy day Advanced declines not good 13 up 32 down on the

NASDAQ Holy crap I'm going to have to look this up. The NASDAQ had 262 new yearly lows today. Only 63 new yearly highs and then cut a few off there because some are non-operating companies. Wow. Wow. Wow. And just a mushy day. That's the best way I can explain it to you. A mushy day. Somewhat standing out on the upside, Micron up another nine bucks off of their monster numbers. but most other semiconductor stocks were down.

The socks was down today. Actually, it only down 30 after being down worse. And we sold off a little bit into the close also, the whole market. The yields came down today, not bad. Oil prices bounce today. We don't want to see oil prices and yields go up from here. Let me tell you what else is happening. Few and fewer stocks are working.

More and more stocks are breaking below. But nothing real bad. You know how at the start of the bare market back in 21-22, we were telling you, hey, this is getting real bad. I'm not seeing it getting real bad, but certainly we're losing some things, which has me going to the last part. So while we warned you about the froth in speculation a bunch of junk. And when I use the word junk, we're not trying to rip on the companies.

We're ripping on the stocks that end up with $10 billion market caps with no sales. So anyway, we hardly ever would mention symbols. And the reason we didn't want to mention symbols, because we knew what would happen. We didn't know when. We didn't know what point in time. But we said to you our same motto was, if nothing changes, if nothing changes. All these stocks will go back where they came from. If they continue to have zero sales, well, they've pretty much all crashed.

And when I use the word crash, there are a ton of them down 50, 60 percent in a matter of 10 weeks. And we didn't predict it happening now. We just said eventually it was going to happen. But I want to give you the poster child today at this point. It has gone from 194 to 74. And the reason we bring it up to you is twofold. Number one, it has no sales. Still.

Number two, it went from 20 up to 194 with no sales. Back down to 74 with no sales. And it's $74. With no sales, it's still trading at $11.5 billion market cap, which means if you bought the sales, stock today at $74, you're paying $11.5 billion for a company with no sales. Simple as okay LO. And again, this is not a rib on the company. What's the next part of the equation? The two founders of the company just sold $350 million worth of stock. Smart. I would too.

Interesting that they're selling down here. Huh? So another way, words, it's gone from 194 to 74 and they get me to hell out here. What do they know? Maybe they've listened to my radio show, that eventually they go back to where they came from. And I don't know whether symbol O KLO does not become a big thing. I have no idea whether it becomes a big thing. It could. Maybe they have great contracts going forward. They become a multi-billion. I hope it does become a multibillion. I hope it does become a multibillion. We're just making a point of being smart, know what's going on with the company, know where it's come from, know what they're doing, know what the earnings, know what the sales are. Don't get caught up in the hype, and let me just tell you this was another one that was hyped up the wazoo.

And now the two founders, $340 million of stock. Geniuses. I would too. The shame of it is, they're cashing out of $340 million. on a company that has no freaking sales and they're able to do it because of touts and shouts and pundits that see something moving so they put a buy rating on it whether they have no sales or not and who ends up losing not the two founders our goal in this show is to protect you from all the money that's lost out there

Whether it's talking about credit cards charging your 30%, that you can never pay off, or doing 15-year mortgages versus 30, which I think 30 is terrible. You don't start paying down your mortgage until like year 15, the scam of the lottery, the BS of the draft kings that tell you how much they pay out, but they don't tell you, no, it's the losers that do the payout and they're just bookies. we're going to keep doing that. And part of that process is knowing from our studies of bull and bear markets that eventually companies with no sales are going to go back where they came from.

And I got news for you. I got about 75 to 100 names that are now down 50% plus from their highs, if not more. And they all had the same characteristic. no sales or very little and losing a ton. We hope you listened. That all said, you have a great evening drive carefully. When you get home, do like we do, it's simple. Make sure you hug your family.

Make sure you hug your children. They will feel better. You will feel better. I promise they will be well. Until tomorrow, peace out all. Good night. This has been Investor's Edge with Gary Cultbaum 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 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. 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.