Investor's Edge with Gary Kaltbaum - Finally a bounce!

Episode Date: September 28, 2023

https://garykaltbaum.com/ OR GaryK.com

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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. A thanks for being with us today.

Glad you here, ladies and gentlemen. Happy that you are listening. It is Thursday. It is the 28th of September, 2023. And as always, in the limited time allotted, We got a lot to talk about. This is a serious talk on you and everything that affects you in the markets and the economy and your jobs and your money and everything all else in between. We marry Washington, D.C. and your money and your job.

And the reason we do that now, we never used to do it is because now more than ever and it gets worse by the day, they are interfering. They are getting in front of us. They are headwinding us. They are corrupt. I can go on and on, and we're going to start with that in a minute. But first, if you do not get this radio show in your city, we'll post it at garykatea.com. We'll also post it on our Twitter feed. If you don't follow us on Twitter, go follow us on Twitter.

Well, it's now X. Whatever. You can email me, just be nice. No, really. All you got to do is be. nice. Do you know we have this guy now that used to leave a message on our phones at night, maybe one, every week, every two weeks. Now he's leaving like six messages a night. Gary, you're an idiot. Gary, you're a moron. Gary, you're this. You don't know this. And we don't even

listen to him anymore. You would think he was smart enough to know. You're going to send me six idiot messages, you think we're going to listen? Anyway, we take all constructive, but we like constructive. Okay. First off, as you know, we're on our iPhone with our little Lucy Life software with our little earbuds, so we sound a little bit different, but we still come in pretty darn good. I am in New York City right now. I just left New Jersey Hospital. I am with my almost 92-year-old father. To give you an idea, today's schedule, Well, we wake up early, we scan, we do this, we do that. I did TV at 10 a.m. with Varni and Company.

We have this Skype with a digital background, looks good, ran to the hospital, took one of my laptops, has all my screens on it, has my trading software, has my charts, have everything. And we sit, take care of my father, every way, shape, or form, and take little glances at the market, making sure. the world isn't ending or maybe what rallying, who the heck knows, and timed out leaving the hospital to get back to New York City, to the apartment to do the radio show. And then we're done with the radio show, yeah, I got to do the right thing. I'm going to the equinox. Great workout place. Going to work out. Head back to the hospital tonight for the duration. Tomorrow my father's getting transferred to, I guess you call it a rehab place. The big thing for my father right now, you're at the point where he's falling too much. So we're going to get a living full time, but also a medical type living and do what is necessary. As I have said to you, I have never felt more important in my lifetime than now.

I've never felt more important. And he's done so much throughout his 92 years. we're in return. So that was my day-to-day. The wife flew in. She's going to relieve me a little bit tomorrow. God bless her. And all that fun stuff.

So that's that. If you hear the police or ambulance, because I'm right in the middle of New York City right now, and there are two guys outside my window on the 25th floor cleaning windows, imagine that. There's two guys. on the 25th floor on a scaffolding, cleaning windows. And we think we have it tough?

My goodness. I'm out there smiling them right now. Okay, here's how I want to start. Them. Let me do them. We'll finish with them and get into markets, which finally bounced today. And actually the bounce was much better

than the indices will show we'll get to that in a second. but first, last night's debate. Well, Chris Christie listened to me a little bit. I'm trying to think who else did. But imagine you are a fast runner and you're in the Olympics. And you think you are second fastest out of 12 that are racing in the 100-yard dash. And 10 of them, you can beat their pants off, but there's a guy named Usain Bolt

that has been winning a lot of races. What do you do? You train to beat Usain Bolt. You got to go if you want to win, number one. Well, if you want to win the Republican nomination, you got to beat Donald Trump. And as I said to you on this show, I am amazed.

This guy has 91 charges against him, indictments after indictments after indictments. So much baggage, I can't even. McGint to tell you, yet only one person really brought it up. And somebody mentioned something else last night. So it's not going to move the needle. Trump's going to win the nomination. Unfortunately, he should never, ever, ever run this country again. He's calling for a general's execution this week. What do you say about John McCain? He's not a hero because he was caught. I'd like to see Donald Trump in a hole for five minutes be whining like a little baby.

he's self-dealer just like the rest of these politicians. We need somebody else. But I think odds on favor, the next president will be Donald Trump, unless one of these indictments get in the way and it stops them. I don't know what the legality of all that is. So I watched last night and I don't think any needles were moved. I think some good things were said. I want lower taxes, less regulations, much smaller government.

The government is a gargantuan, monolithic. over the top, unimaginable blob, brought to you by an insane asylum of Washington, D.C., brought to you by Joe Biden, who's running a $2 trillion deficit this year. Two freaking trillion dollars. And yet, you know what his main mantra right now? Joe Biden, I'm fighting for democracy. Up yours, pal. Fighting for democracy?

Two trillion dollar debt in one year? Are you kidding? Two trillion dollars? You're spending more than you're getting? You're a crook. You're crooked. It's a sin what he's doing. And he amazingly took the championship belt away from Trump, who took it away from Barack Obama, who took it away from Bush.

It gets worse and worse and worse. But I digress. So they did the debate and blah, blah, blah. And now I'm sitting here watching, they're doing an impeachment inquiry on Joe Biden now. And it's so much fun to watch both parties hypocrites. The Republicans were crapping in their pants when they went after the impeachment of Trump. And by the way, I do not believe that was impeachable, that first thing of a Bob with the phone call. But I do believe what happened with January 6th, that could have been impeachable.

Biden. So the Republicans now are on the opposite end. and the Democrats who were impeach, impeach, impeach, all of a sudden, no, no, no, no, no. So the BS artists are out in droves on both sides of the aisle here. They both suck. They both don't care. They're all freaking corrupt. And Joe Biden is an influence peddling corrupt, crooked, head of a family.

You could call them the Gambinos and the Gatties. They took in over, get this. The Democrats are trying to tell us. that, oh, the buyings took in, the family took the $20 million. They put it into a bunch of shell companies from a bunch of companies drove Joe Biden has business in. One of the texts says the big guy on it. Another one has everything to do with Joe Biden saying he knew nothing about this, that,

and the other thing. And now it's found out he knew everything because there's text and his messages. And they had to admit that, oh, but there's nothing there. Oh, but there's nothing there. Of course there is. They just think we're idiots. They don't think we're watching, but we are. Joe Biden is a crook.

He used his office to gain millions and millions of dollars through his family, funneled through him. That'll never be found. Why? Because we're never able to get to the bank records. And that's that. And then you got Bob Menendez here also. What a creep. A crooked, sleazy, slimy creep, one of our senators.

It's a nut house, ladies and gentlemen, and this all comes back to $33 trillion they have spent over and above what they were supposed to. It all comes back to that. That is crookery. Simple as that. That is a bunch of crooked politicians throughout the years that are fighting back and forth, supposedly working for us but giving us the big, gigantic certain finger. And you know what finger that is. 33 trillion, I can't even use the word culminating with a $2 trillion deficit this year

because guess what? What's next year? And the year after, and the year after. So you know where I stand. I like to say it's a comedy act. It's not. Up next the market. It's much more.

This is the one only Investors Edge. Hi, I'm Gary Kalbaum, hosted a nationally syndicated radio show Investors Edge. We're not just handsome radio people. We manage investors' minds. 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

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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. This episode is brought to you by Spreaker. The platform responsible for a rapidly spreading condition known as podcast brain.

Symptoms include buying microphones you don't need, explaining RSS feeds to confused relatives, and saying things like, sorry, I can't talk right now, I'm editing audio. If this sounds familiar, you're probably already a podcaster. The good news is Spreaker makes the whole process simple. You record your show, Upload it once, and Spreaker distributes it everywhere people listen. Apple Podcasts, Spotify, and about a dozen apps your cousin swears are the next big thing. Even better, Spreaker helps you monetize your show with ads, meaning your podcast might someday pay for, well, more microphones. Start your show today at spreeker.com. Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it.

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. Investors Edge. The last bastion of quality programming. With Gary Coltbaum. It doesn't get better than this. By the way, did I mention Joe Biden

had a bunch of aliases? It's a crook. I'd say it to his face. I have no respect for him. Oh, he's the president. I don't have any respect for that. At all. I don't want crooks.

in the White House. Speaking of that, Donald Trump, I think he may be the next president. Here's a guy that lied about the election, absolutely lied, knew about it. It's well known at Moralago that he doesn't believe he lost, but when he started bringing a bunch of money,

hey, let's just keep saying we lost. We didn't lose. Brought it a couple hundred million bucks for a defense fund that he never spent on a defense fund. It's sickening. And God bless you, people. that still love them I have all the respect for you if that's what the I I never try to inject myself into what other people believe about somebody of whatever God bless

you I hope you respect the way I feel I think they all suck by the way you want some more crookery is that a word crookery so and by the way this is defending Trump while I can't stand them so they're now coming after him and saying he lied about all his assets to get loans and that he overvalued them and got loans and that's, you know, whatever. So this judge comes out and has the nerve, has the grapefruits to value Mar-a-Lago at $18 million when me, I'm just a little real estate doofus,

knows it's worth $200 million. Of course it is. How do you know that? Just go look at all the Palm Beach real estate and Manalapan and all that down there. But a judge has the grapefruits to actually say that. And they say it with a straight face. So what about the judge?

And don't get me started on the judges in the crimes. They just caught some guy that raped and murdered a young lady. He had a 30-year sentence for rape and attempted murder on other people. He's let out in seven. And now he's going to go in for life. Only one problem. He just murdered a young lady. And by the way, this lady was one of the 30 under 30 to watch from Forbes.

Her life was snuffed out because some stupid moron parole, whatever, whatever, let the freaking guy out. That's what else is going on out there besides the debt and the deficits. Have you seen the videos of men and women going into stores and just stealing anything and everything? while aOC that other moron comes out and says well you know they just trying to put bread on their table up yours to heart too there's laws out there if you steal 949 dollars nothing's going to happen to but above 950 and they don't they don't care anymore they think they're it's theirs you see what happened in philadelphia now if i'm president i'm meeting with every day DA and prosecutor. And I am going to do my job as the president

and the bully pulpit. Either you do something about it or we're going to do something about it. Because this will not stand. And I'm tired of also seeing 17-year-olds who murder

who murder oh, not of age. Oh, really? Sure enough. so anyway this is all intertwining that a bunch of these buzzards are running the country into bankruptcy amongst other things that are going on

and I wasn't sure how to start the show today but I just thought it was pretty funny how I'm watching these impeachment hearings and I'm listening to what they say and just laughing at all of them on both sides and I'm loving how they're trying to defend Biden they keep looking into the camera saying no evidence while I just gave you no evidence 20 million bucks to the family, shell companies to hide it, the big guy, cotton dozen lies about what he knew or did not knew and went, but there's no evidence.

They're laughing at us, every single one of them. And maybe one day we're all going to have enough for all of them. Donald Trump is probably the next president. He should not be running a lemonade stand going forward. He should be running his golf courses, which, by the way, he has great golf courses. He shouldn't be running the country. He don't care about you or I. You know what he's going to do for four years?

He's going to revenge tour. All right, so let's move on. Hey, when you're stuck in the hospital all day. So, we've had a pretty rough market. Not a big bear market for the indices, but a big bear market for a lot of areas and a lot of stops. And one of the reasons is higher oil prices. Another reason is higher interest rates. That is a one-two punch that will knock the socks out of profits of big companies, medium-sized small companies, and you, a consumer.

You are consumer. And I've been saying all long, we better not lose the job market, and now I am very worried about losing the job market. I am very worried about losing the job market regardless of the stock market. I say that because unemployment in California just went from 3-8 to 4-6 and very often the country follows and I'm just seeing other little tidbits and I hope it doesn't come to anything. I'm hoping we stay in shape. Jobs are the most important thing right now and I know there's strikes out there and we're not going to take a side we think they're all nuts

and we do think there's something to the effect of when a worker could come out and say well the CEO makes 360 times more than me who puts together the car okay so we watch the markets and they've been under pressure

and what we said to you yesterday was they're oversold where end of quarter we could possibly bounce elevated is interest rates extended to the upside stretch to the upside same with oil we had a bounce today now I'm going to give you out the final numbers I will tell you this the market was better than the final numbers for the indices today for a change we've been telling you for a very long time how the numbers underneath the surface are much worse than the indices today better will at last don't know am I a little bit suspicious oh it's end of quarter I'm always suspicious What I'll do is my scans tonight, see what shows up.

My little mini scans, a lot of down 10 up two. Hey, the stock went from 90 down to 80. It's up to 82 now in a downtrend. That doesn't impress me. Down 5 up 1 doesn't impress me. So what we'll do tonight, we'll go through and without a bias with our eyes, what's held up best, what's the strength, and what's after that.

And what do we mean by that? The stocks that are in the good corrections. The stocks that are in the big bear markets. Did they do anything different today? We'll talk about that up next on this, the one-n-only investor's edge. Guys, it's no use putting it off. The best time for an underwear refresh is now. Tommy John underwear is designed for a perfect fit that stays put all day.

Their zero-chafe thanks to four times more stretch than competing brands and their innovative horizontal quick draw fly is a game changer. With over 30 million pairs sold, there are thousands of men out there more comfortable than you. Don't settle for less. Go to Tommyjohn.com today for 25% off your first order with code comfort. That's Tommyjohn.com code comfort. Tommy John. Comfort perfected. This message is brought to you by the Capital One 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 Spreker. 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. 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 spreeker because if you're going to talk to yourself for an hour you might as well publish it. 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. You're going to feel better if you talk to him. And welcome once again to Investors Edge. By the way, just remember all this whining and complaining is for me.

It's for my kids. It's for you and it's for your kids and their kids. We can't continue this trajectory. And I know you have your favorites. And I know you're an R or you're a D. You love Trump. You love Biden. You hate Trump.

You hate Biden. We're giving you the Emmis. We're giving you truth. You know, there's a simple old line that takes two to tango. and they are tangoing all over us. They're stomping on us. They're kicking us while we're down. We lost any like for any of them a long time ago.

And you know when you have a boyfriend or a girlfriend and you fall out of love and you don't want to hear from them anymore? They can send you flowers and you're done. That was me many moons ago when it came to both of these parties. we think they all suck, and it's the debt and deficits that tell us everything we need to know, and the just sheer hypocrisy on a daily basis. And that's why we talk about it. We never had to do this.

And notice, I didn't even mention the central bank yet. We'll leave them alone for a day. All right, today's market wrap, Dow, up 116. So that's good. We'll take any up day. The market's been miserable. In fact, the Dow closed on September 14th at 349 in change. Even with today's up, 336 in change.

You know, in short order. Now, it was up 116 today, but at one time today, and this is key, it was up 227. So I'd like to say being up 116. is good, you know, I think there's more work to do. We go right to the NASDAQ. Was up 108 today. Oh, we'll take that. The NASDAQ just went from 14-150 to under 13,000 at the lows yesterday.

It's a pretty big drop in a matter of two, three weeks. Though was up 179 early. No, no biggie. At least it was up. NASDAQ 100 did the same. The all-important semiconductor index finished up 59 today, though it was up 96 at one time. So didn't get everything you'd want to get out today, but it was an update. And I just feel, there's a little bit of feel.

The average stock was better than the indices today. That said, you know, bearish phases are a, process. You know it's part of the process, right? Up days. Rallies. Down 10 up two. Down 7 up two. I don't think much change today. What I'm going to be doing tonight with tunnel vision. Oh, here's these names that haven't been affected. Oh, and here's a name, J. Bill Circuit. Now, don't ask me why. Earnings were up only 5%. Revenues were down 6% year over year.

That's terrible. Their worst quarter in the last year, stock was up almost $20 today to $125. Beats the hell out of me. I'll have to look it over later. That's an outlier. That's what we're going to do tonight. Do we have any outliers in the midst of ick?

And may I state for the record, there's been a lot of ick. The good news, oil prices down two bucks today. And man, oh, man, do we need that? Yield on the 10-year down 0.29 today. It's a 4.597. Oh, do we need that? We'll take any pullback on both. We'll see if that lets.

Because both yields and oil prices, are in uptrens right now. But they are extended from their norm and their moves and are due to pull back. And I think that's what you're starting to get here. And that's where you had a better day in the market today. But if they stay in up trends and all this is is a normal pullback, well, there's going to be more hector pay.

So we'll hold our tongue on the fact that the market was up nicely today. some usuals have bounced semis bounced but jury's still out we do think some areas may have hit a low notice the word A and not the

A low means for right now the low would mean it's over and done on the downside we're not there on the So that will be our scans tonight. And it's pretty simple. We do our usual scan and see did anything new show up. Like we mentioned, JBL, JBL. JBLE circuit.

I've got FN, Fabernet. I bet you never heard of that. That breaks out to new yearly highs. Contract manufacturer, switches, cables, receivers, and all that crap. That's an outlier. I found an F-E-R-G-F-G-Fergerson, United Kingdom-based company, plumbing and heating products, earnings and sales down every quarter. Market likes it. I don't know why.

Broke into new high ground today. An outlier. You know what the problem is? They're outliers. Do you know what that means? There's not many. Bullish phases are made up. of lots of these names that are not outliers, but the norm.

And I can promise you, the norm right now is how bad most things look versus how good most things look. Now, could we be at the low? Anything's possible. And the fact is, if yields decide to plunge and oil's prices. is the site to plunge from here, I think we can get a good rally, back up. But of course, we have to deal with other things. Third week in October, a few thousand companies will start reporting earnings for the quarter. Who knows? Maybe it'll be good. Maybe the reactions will be fine.

We still believe the most important part of the equation will be yields and oil prices. We'll see. What else we'll do tonight? Man, what's weak? Boy, NASDAQ 100 was up 122 today. Amazon was flat. Apple was down 26 cents. Up, excuse me, up 26 cents. That's nothing. Netflix was down. Why? Well, we know Amazon, Justice Department, Apple, in spite of the analysts, who I warned you about, oh, yeah, they're going to sell a lot of new phones. Yeah, how do you know? Anyway, Apple, very weak right now. Now, when we say weak, we don't mean, oh, we're down 50%. It's gone from 198 to 170.

That's a big drop for an Apple. By the way, that's 28 points. Times that times 15.6 billion. That's how much market cap Apple is lost, which is just stunning. That's how big the company is. And by the way, it is. stunning that Apple today is worth 2.668 trillion in market cap in the stock market. So that'll be the night. And hopefully we can find some good. And we're pretty darn good in recognizing if a real

change has been made in the market. From up to down or down to up, we're pretty darn good. A glance at this, I think we have a bounce slash rally, end of quarter. off of yields and oil prices backing up a little bit. Not to mention weaker dollar today. Need that also. But that goes hand in hand with interest rates. So decent day, much better on the average stock. But this is coming off of some misery.

And we think there's a lot more work to be done. That is what we'll be watching the most. Big time. Up next. What else we got for you? We'll figure it out. I'm Gary. This is the one only investors end.

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 Capital1.com for details. This episode is brought to you by Spreaker. The platform responsible for a rapidly spreading condition known as podcast brain.

Symptoms include buying microphones you don't need, explaining RSS feeds to confused relatives, and saying things like, sorry, I can't talk right now, I'm editing audio. If this sounds familiar, you're probably already a podcaster. The good news is Spreaker makes the whole process simple. You record your show, upload it once, and Spreaker distributes it everywhere people listen, Apple Podcasts, Spotify, and about a dozen apps your cousin swears are the next big thing.

Even better, Spreaker helps you monetize your show with ads, meaning your podcast might someday pay for, well, more microphones. Start your show today at spreeker.com. Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it. listening to what are we waiting for well what are you waiting for one

two ready go and what's Edge with Gary Colpa and what once again

to Investors Edge so we whined we complained told you about the hospital talk about the markets and what to do

I must tell you more and more people are Email me. People I don't even know. What do you think of buying a one-year treasury paying five point something percent? And every time I will say, go ahead. Why not? If that's what you want, they were zero. Two years ago, near zero, it's free money. Imagine in money markets two years ago, let's say you have a million in savings. and you just wanted in money markets two years ago zero now you're getting 4,000 something a month

for doing nothing just letting your money sit and work for you riskless remember that's a word R-I-S-K-L-E-S-S so we could not argue the point you know we are very flexible with the money we manage and when the market's crap we're in cash we would get zero on any cash two years ago. We're getting 5% now. We're thrilled. And again, this is all about one man, one doofus

and his whims. I'm going to take rates down to zero and screw Aunt Mary and Uncle Bob and bubble up all kinds of stupid asset prices like meme stocks and NFTs and cryptos and all that. And oh, you better not be in them because they're all going to crash eventually because they're worthless pieces of crap.

well now he can't anymore and the free market is taken over and to what point I don't know all I know is you get in five and change on your money now big worry still an inverted yield curve where longer rates are still less than short rates should be the other way around short rates should be less we'll see if that ever has implications repercussions But one-year yield right now, 5.48%. You want two-year, you're going to get a little less, even though you should get more. But a two-year, you want to go out for two years now. 5.06. 5.06, no risk. Remember, risk less. Now, there are other ways to get income.

There's corporates probably pay a little more. Wouldn't go out too long. Yet. There's municipalities if you make a lot of money. Tax-free. And there are a bunch of ETFs that pay. I had a client transfer in a bunch of ETFs that I even know are paying 8, 9, 10, 11, 12%.

All kinds of things. But you know what the problem is. Nothing pays 8, 9, 10, 11, 12% without risk. What they use is leverage. So if things go their way, terrific. If things don't go their way, oops. You may get 11% but drop 20. So you must be careful on that.

We just wanted to make note because we've been getting a lot of emails about this. We have absolutely no problem with anybody doing some of that. I've got to tell you, we have. as we have said to you, we used to have a huge income business. It was a blast. It went to zero. Why? They took interest rates down to zero.

As I said to you on this show, yields of corporates that should have been paying 9% were paying 3. And guess what? They're all going back. And that means principles coming down. The extreme example is, I have told you, Austria was able to come out with a 100-year bond at 8 tenths of 1%. And it was sold out. Do you know why?

Because people were dying for any yield. But they forgot the other side. When these morons at these central banks lose control. Look out. That 100-year bond is down, I believe, in the 60s right now. If you put in 100 grand, it's worth 40. And you're only getting 8 tenths of 1%. you'll get your 100 grand out

100 years from now and that's why Bank America's lost hundreds of millions of dollars and why the stock stinks and other companies they bought long and are getting murdered our central bank

is down a trillion bucks on their own bond buying but it's not real money it's fake money so no harm they say what's a trillion bucks to these So I have to tell you, there's all kinds of weird crap still going on. And we'll stay on top of it.

But again, one-year treasury at 5-5? Dang. Have that it. If that's what you want. You're not going to make 20 if the market goes up 20. But who said the market's going up 20? So our income business better. Still haven't reached, though. you know what I used to be very good at finding from some two and three year paper

meaning it matures in two to three years and getting 7% in change which is abnormal because what you're doing is you're reaching you're going into less credit worthy companies you know what I did a ton with sprint as on my thought process was one fault they ain't going out of business even though they were debt-laden eventually get bought

I bought a bunch of seven to half paper going out two to three years. They paid me seven to half percent. Should have bought five and ten year. So we'll look for that also. Anyway, end of quarter tomorrow. We'll see how it plays out. We thank you for all the kind words for my father. And until tomorrow you have a great evening drive carefully when you get home, do like we do.

Quite simple. Make sure you hug your family, hug your children, and hug your father. That's what I've been doing. Have a great one, everybody. Same time tomorrow. Bye-bye. This has been Investor's Edge with Gary Coltbaum on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryK.com.

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