Investor's Edge with Gary Kaltbaum - Happy Thanksgiving

Episode Date: November 23, 2022

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

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Terms apply. Lounge access is subject to change. See Capital One.com for detail. Investor's Edge with Gary Coltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Cultbaum. And welcome once again to Investors Edge. I'm Gary Coltbaum, your host day.

Thanks for being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It is Wednesday to 23rd of November, 2022. And a happy Thanksgiving to each and every one of you. Tomorrow, the market is closed. They'll be playing the best of Gary. Friday is a half day in the market. Haven't decided yet what we're going to do.

Either or we'll see. I want to thank each and every one of you that have listened to this show, have made this a stopping off point for you and your money and your thought processes on your money. I want to thank each and every one of you. so many of you when my dog Cosmo died and I received hundreds and hundreds of emails when my order of a refrigerator could not get to my parents hundreds and hundreds of emails trying to help out to the point where finally I got the email the president and got a hold of the president and then they finally acted

the hundreds and hundreds of well-wishing emails. Now, a lot of you, mostly I have not met. And since COVID, we have not traveled. But I feel like we have a kindred spirit, I guess. And we thank you. And we never forget that your time is limited every day. You have choices on what to do with your day. So we thank you.

And we promise going forward to always put our best foot forward with no agenda, ulterior motive or bias. Now, I have to start off the show today with some anger. Actual anger. Everything we do with this show is to protect your capital first, everything else secondary. more importantly since we called for bubbles back in 19 since the bubbles appeared even much more and we nailed it all for you culminating with the recent carnage in the coins

we are of the select few that have been telling you time and time again It's just a freaking bubble. And there's no value behind them. And that 20,000 coins came out, or at least tried to come out by a bunch of con artists, trying to be the next rich person with them. Somebody did a dogy coin, went from nothing to 70. I think it's like seven now.

I don't even know why it's there. That's the culmination. We warned you about the no-sales company. We warned you about the ridiculously priced IPOs culminating with Rivian. The day it came public, we told you, this thing is 75% down. It was simple,

while a major Wall Street firm brought them public and not caring about you, the customer, not giving a crap about you. And the thing they foisted upon you. We told you what would happen. And it was simple, but Wall Street didn't care. On the first day after it came public, it had a market cap almost as high as GM and Ford. Even though they had no sales and GM in Ford had 260 billion in sales, it was a gimmy.

We warned you about the SPACs, the blind pools, the scams, the money grabs. and we told you, wait a minute, every one of these blind pools, they're blind pools, that's what they used to call them, they came out with the word SPACs to make them look a little more glamorous. We're finding out that every one of them is saying, oh, we're merging with a company that is going to build electric vehicles or batteries. And we know that's impossible. And we found out some of them were just pure fraud and a bunch were indicted. We warned you about the short squeeze stocks. What did we tell you? They're all going to go back to where they came from.

How do we know that? The study of history. They all go back to where they came from. They all go back to the norm. They're real valuations. And if the companies suck and they're losing a ton of money, they're going to go all the way back. They did.

We warned you about the marijuana stocks. And tongue in cheek told you, wait a minute. If all these companies are going to sell marijuana, they're diluting each other. And wait a minute, you're paying taxes if you go to these companies. Instead, you can go to your uncle Biff down the road who gives you better stuff. And you have to pay taxes. Guess what? Stock's down 90%.

And guess what's happened? Some of these states have taken off the tax. We warned you and we warned you and we warned you. and we've received dozens and dozens and dozens of emails thanking us, and we're so happy about that. But every now and then we feel like we're fighting an uphill battle against your and my opponents. There are opponents.

You know, I've called all these politicians our opponents now. There are opponents. 31 trillion says so. Lies deceit corruption. inside or dealing, there are opponents. But yesterday, something really stuck out. Yesterday, something really stuck out. An opponent, but also an accessory to an opponent. And every time we try to do good, every time we try to protect the investing public from the ills, the opponents, the goblins, somehow get out in force even though they have

proven to be goblins, even though they have lost billions of dollars for their followers and their investors. And I can go on with the even though, even though, even though, even though, even though, even though, even though, even though, even though, and they don't stop. They're like grim death. They don't stop. They try to stick their claws into you and just

scrape you to you. Got no skin left. Yeah, that was a little bit more than picturesque. But I mean that. Because, frankly, I cannot believe what I saw

yesterday. And by the way, I didn't see it. I had 50 of our listeners email it to me. Gary, did you see this? And unfortunately, I have to talk about it. Why? Because we have one goal. Protect you from the goblins and the opponents that don't give a crap about your money and have proven it time and time and time again. And they will say anything and do anything and be enabled. Even though staring in the enabler's face is a bunch of bull crap. Steaming, hot, smoking, bull crap. Did I say stinky also? Now notice I have set this up with quite the few minutes.

because man am I pissed? Because all the good we try to do here gets unwound so easily by the goblins. Up next, I'll explain. This is the one only Investor's Edge. Hi, I'm Gary Kalbaum, hosted a nationally syndicated radio show Investors Edge.

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portfolio review. The number to call is 888-4-22-5-5-9. That's 888-5-59. That's 8-8-5-9. That's 888 4-2-4-2-5-9. Investment Advisory Services offered through call-bomb Capital Management. This message is brought to you by the Capital One VentureX card. VentureX 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. At Arizona State University, we're bringing world-class education from our globally acclaimed faculty to you. Earn your degree from the nation's most innovative university. Online. That's a degree better. Learn more at ASUonline.asu.org.org. 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. So, listen carefully. email after email after email tweet after tweet to me direct messages did you see this so as you know we have talked about and we tell you we don't take on anybody in the industry and man oh man can we take people on every now and then we'll say oh look at this somebody downgraded paypal at 90 bucks they said buy it at 300 i'll never name names But that is just to make sure you pay attention to price and not somebody's opinion, especially in bare markets. The one person we have mentioned a few times is Kathy Wood of the ARC funds. I don't know her, never met her.

This is nothing personal. She was being interviewed by Bloomberg yesterday by a lady named Carol Marl. Massar? I don't know her. I've never met her. Nothing personal. First number one. The interviewer. Now, this is what I'm told. I didn't watch afterwards. I am told there was no follow-up to what I'm about to tell you. How do I put this? If I interview Joe Biden and he said, well, we lower child poverty by 50%. The media will say nothing. Gary Kaupam would say,

how do you do that? It's called the follow-up. It's what journalists are supposed to do. And at that point in time, Joe Biden would go hamina, homina, homina, and turn into Ralph Cramdom. And then he'd have to say,

well, we gave a tax credit, and then I would say, well, wait a minute, we work closely here in central Florida with children, many in poverty. You're telling me a tax credit took the child out of poverty? You don't take a child out of poverty. You don't take the child out of poverty by giving them a tax credit.

You need to give them education, mentorship, make them feel important. A tax credit? Hey, Joe, are you smoking crack? That's what a journalist should do. Mastor of Bloomberg miserably failed yesterday in protecting you, the investing public, from Kathy Wood of the Arc funds. No protection whatsoever as a journalist on Bloomberg television,

a highly respected place that take themselves very seriously. There's no fluff in Bloomberg. Background. Kathy Woods' arc funds at the recent lows from the highs of the bubble. Remember we told you the bubbles started popping in February 21. Well, her main fund, the ARKKK, has gone from $159.70 down to $36.32 today. This is a fund, a diversified fund. And as we have walked you through this fund, we just keep explaining to, she keeps buying into bare markets.

And she's going to get drilled. And she's been drilled. I heard she turned over the funds, a couple of funds to others to manage. She's given back every dime to the low of COVID. and we just explained to you what the problem was. But she's also invested in the coins. And of course, you know what's happened there. Kathy Wood was asked by Carol Masser yesterday of Bloomberg.

Are you still sticking to your million dollar price for Bitcoin? Kathy Wood said yes. A million dollar price on Bitcoin. A million dollar price. price by 2030. Last I looked at, it's 23, 24, 25, 26, 27, 28, 29, 7 years. Million dollar price. By my rusty abacus, that means in seven years Bitcoin will have to go up 61 fold in seven years.

It closed at 16,468 today. The grapefruits on this woman who is. lost billions of dollars for her investors since February of 21. By the way, buying these coins all the way down to make that statement. Number one, she's very lucky I wasn't doing the number one. I would never ask that question. But very lucky I didn't, I wasn't doing the interview. But number two, I'm told. Carol Massard did not follow up. Was not prepared. She prepared a question. A million. And all she had to do was 16,468 times what equals a million?

And by the way, it's yesterday. And actually, Bitcoin was up a little bit today. Probably yesterday it was 62fold. She didn't come back with a second question and asked her. You're telling us Bitcoin's going to go up 62fold? What world are you living in? 62 fold in seven years do you think maybe all the money you have lost

for you and your clients your customers has put you in desperation of making outrageous claims 62 fold in seven years just let it pass I can't begin to tell you how pissed off I am at this I can't begin to tell you how pissed off I am at this

I can't begin to tell you how pissed off I am at this Bloomberg is much bigger than I. We're getting bigger and bigger, but how do I counteract that? Up next, we'll put a bow tie on that. Take you to Thanksgiving and whatever else. I'm Gary. This is the one on the investor's edge. This message is brought to you by the Capital One Venture X card. Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect.

Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet? Terms apply, lounge access is subject to change. See Capital One.com for details. This episode is brought to you by Spreaker. The platform responsible for a rapidly spreading condition known as podcast brain.

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

Spreaker, because if you're going to talk to yourself for an hour, you might as well publish it. 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. You're listening to. America is talking. Investors Edge. He's got to be pleased with that.

The crowd is just on his feet here. He's a Cinderella boy. With Gary Colbomb. It comes highly recommended. You're going to feel better if you talk to him. And welcome once again to Investors Edge. What more can I tell you? This is my world.

this is Wall Street it sucks and I get for for whatever reason why anybody would bring anybody on TV or radio show

and interview them who has lost 70% in a fund not an individual stock in a fund in a diversified fund you know what you have to do to do that

you have to suck you have to be doing everything wrong you have to be compounding everything you're doing wrong over and over and over again and they let her come out and say Bitcoin's going to a million in the next seven years. They let her. And you know why? Because if they really asked her the tough questions,

maybe Kathy Wood wouldn't come back. I don't, I wouldn't want to interview. What the hell do I need her for? I only want to interview people that are doing things well and doing it right and can it be a benefit to you. I just wanted to let you know this, how irritated I am, and it was stunning to me. At what point do you ignore failure? Everything I am telling you right now, I would say straight to her face. And I'd be a little bit nicer with the journalist who performed journalistic malpractice by not following up on utter moronic stupidity from a woman. that is already destroyed wealth. That's just my take, because we are here to keep you informed and keep you ahead of the game.

Now, by the way, because people want to know, I get emails right now, what do you think of the coins after this big drop? They can bounce. They can randomly bounce. The GBTC was up today, 7 or 8%. That's the Bitcoin little, you know, the thing that trades the bits. coin they of course they can bounce but you do know most coins are at zero you do know that right and we're still going forward because the gbtc and the ethe trade if they start trading bullishly we'll

let you know i just had to tell you this because they're just working against us completely working against us and there's every chance the bitcoin ethereum be a zero one day there's no value to them The only value is what somebody's willing to pay. What do they do? It's a coin. What about blockchain? You're not investing in blockchain. You're just betting on a vehicle.

Anyway, that's that. And I was pissed. All right, today's market wrap, brought to you by Investment-Dashmottles.com. That's Jim Roarback. One of the great market timers. No gray areas with the man. You're either in or out of the market.

What is proprietary indicators. Go check it out. Investment-mottles.com. further a Dow up 95 S&P 23 NASDAQ 110 NASDAQ 100113 SOX 29 transports 46 there was back and forth and the Fed minutes came out and they basically said what we expected oh we'll slow down no more three quarters of a point the expectations now are a half point going forward and we'll see after that nothing changes the market right now wants to go higher. Maybe. What did happen again today? The dollar was down and yields were down.

What have we told you? Direct correlation between a weaker dollar and a weaker yields, not the bond. That's strengthening of the bond market takes yields down. So you had another one of those days. Direct correlation. It's been going on for over a year. and frankly it looks like technical analysis here and yeah we know we're talking currencies and who knows anything's possible you're working against other currencies it looks like yields probably want to come

lower and the dollar so maybe the market has some more to go that's all strength today the for a change the bombed out down and out destroyed tech types that are down 50, 60, 70, 80, 90 percent had a good day today. Interesting that COUP, a buried, destroyed software stock was up $13 to $59 today. A private equity companies may look to buy them. So guess what happens in sympathy? All the other software and enterprise software companies get a bit also. So that helped today.

What also went up today, gold again because the dollar was down. What was down today? The oils, we have warned you about the oil stocks in that oil prices are much weaker than the oil stocks. And oil prices look like they're down three and a half bucks today. So just be careful with them. We're not saying they're not going to have another leg up, but oil price is going to have to cooperate. Semiconductors had a bid today. For a change.

Nvidia up five. Tesla got an upgrade up 13. And that thing's been destroyed. Do you know Tesla in two months has gone from 314 to a low of 170 before today? In two months. Adobe up five, an AMD up one, Salesforce.com, 3, Google, one and change. These things make moves. Apple was up a little less than a buck.

So another up day. And we'll see how it goes. Friday is a half day. Typically it's a decent day. You never know. We'll be watching. As always, good news is the market closes at 1 o'clock. Yay!

I hope you understand how we started out this show. Do you know how much touting and pushing and they tried foisting upon you? Culminating with the Rivian? I got news for you. These investment banks are scum. Do you not think they know they are foisted in this crap upon you? You're paying $5 for a $1 bill? know. You think they didn't know about these spacks? Stinky, smelly, gargantuan crap? You think they

didn't know? Of course they know. That famous SPAC guy, that unloaded all his stock made zillions of bucks foisted upon all of you. You think he didn't know? So we're going to continue to do our job. And I'm sure they'll come at you again. They can't now. Markets not ripe anymore. They're now in their cushy layers flying on their private jets, waiting for the next thing to come around so they can screw you again. And let me be clear, I take no joy in saying this. But they've earned everything I have been saying. In plain sight, they have no scruples. as I have told you if they can bring public your dog's crap they would I started two to three years ago with that analogy or comparison whatever word you use

they've proven it again as bubble after bubble after bubble after bubble popped the good news is right now market still okay in here with warts I do like the fact they finally lit up some of this dead NASDAQ stuff, but the charts look terrible, and there's going to be a shelf life on them. They can always get better. We'll see. Up next, we'll take you to Thanksgiving. This is the one only investor's edge. 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 Capital1.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 cousin's swears are the next big thing. Even better, Sprinker helps you monetize your show with ads, meaning your podcast might someday pay for 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. 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. 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 Culpa. Do you know, do not, da, no, no, da. Hey, what's up? Market feels like it wants to go higher. I just want to let you know a couple of things. Very soon you're approaching a major, major, what we call a downtrend line on the S&P, that's number one. Number two, the volatility index is very, very low.

The ingredients are there to get a good pull, back doesn't mean you're going to because we are looking like we're starting to edge above the last seven or eight days you know we had that big move two thursdays ago and then sat just keep on the lookout keep on the lookout the best news i can tell you is ever not including the perma bears and the permibals we put them aside they don't matter everybody's saying we're going into a deep recession in two thousand and twenty three that's the good news it really is you typically want to fade the masses. You know what the bad news is? I agree with them. I mean, all my channel checks and economic indicators. We'll see. Hopefully we can skirt it. And the big one,

the inverted yield curve. The 10-year yield close at 3.706 today. The two years at 4.477. That's screaming trouble. And if it indeed occurs, I can promise you, the big drop in earnings will trump the drop in yields in the dollar that's helping the market right now. But that'll be for another day. I didn't mention Theranos. They send the woman to, I think she's getting 11 years. She's a crook. 100% unadulterated. Cruck. Cruck it. She's going to jail. She's being accused of getting pregnant to get sympathy. I'm not going to go there. Many are accusing her. She's a crook. She's a criminal. And she should go to jail. Do you realize she created a fraudulent medical testing device?

Imagine if this came out and you're getting medical tests and the results were a bunch of bull crap and you died because of it. She's lucky she was caught with fraud because then she'd be indicted for murder. And trust me, they would go after her for murder. So she's bad. Bad is all hell. No sympathy. Yet I saw Corey Booker Is he still a senator, whatever he is in New Jersey

Goes and defends her Sends a letter Oh yeah she's this and that Up yours Corey Booker It's amazing to watch Just like you know I got an email today From Herschel Walker's campaign Herschel Walker

Yeah I'm gonna give him money Yeah I'm pro life You know I'm pro life You know I'm pro life Unless I need to get an abortion For my girlfriends who I knocked up Yeah I'm gonna give you money By the way, that is not a Republican or Democratic comment.

I couldn't give a crap about each party. I just think they're all very comedic. Very comedic. You know what the line is to defend them? Well, he's learned. Yeah, kiss mine. Anyway, I just thought it was funny. I got it from his campaign.

I don't know why they're emailing me. You know what? I'm still registered Republican, though I'm independent because I can vote in the primary here. That's why I guess. That was my political thought. the day, ladies and gentlemen. So what next? If the dollar and yields continue to cooperate right now, if we get to the point where the market, listen carefully, gets to the point

the recognition that these earnings that have been terrible are not going to recover, then that will start trumping the help the market is getting from yields and the dollar. As of this second, not happening. In fact, you're still getting what I would call crappy earnings being bought, except today you had a couple that got hit. Best Buy's earnings, terrible. Burlington, terrible. Dick Sporting goods, terrible.

Amercrombie and Fitch, terrible. They were all up. again today after blasting higher yesterday. And when I mean terrible, how do I explain Abercrombie and Fitch's earnings? They earn one cent a share for the quarter. You know what they earned last October's quarter? 86 cents. Yet the stock from two days ago when it closed, that's gone from 1863 to 2398.

Go figure. Just remember if these earnings don't recover every dime these stocks move up, makes valuations higher, and then thine wall will be hit. If earnings do recover, horse of a different color, one would suggest the big jury is out on that. More importantly, price, good action. So far. Good action. So far.

and since we have been pretty darn good on calling the counter-trend move tops within a day or two, we're highly confident we'll do it again. No guarantees. We have yet to see it. With that all said, you all have a great evening. Have a great Thanksgiving. Enjoy the day.

Hope you are with your loved ones. Travel safe. Be well. Stay well. Best of Gary tomorrow. Until Friday, I think we'll probably do a show Friday, not 100%. When you get home, make sure you hug that family. Thanks for joining again. Thanks for putting up with us. Take care all. Bye-bye. This has been Investor's Edge with Gary Cult Bomb on Biz Talk. To listen to past episodes or to get in contact with Gary, go to Gary K.com. That's Gary K.com.

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?

lounge access is subject to change. See Capital One.com for details.