Investor's Edge with Gary Kaltbaum - Just a wild week in review! [05.03.2024]

Episode Date: May 3, 2024

https://garykaltbaum.com/

Hey, it's Ryan Sechrest for Albertsons and Safeway. It's stockup savings time now through March 31st. Spring in for store-wide deals and earn four times of points. Look for in-store tags to earn on eligible items from Celsius, Body Armor, ORAIDA, Silk, Capri-Sun, Bavarian Meets, and Charmin. Then clip the offer in the app for automatic event-long savings. Stack up those rewards to save even more. Enjoy savings on top of savings when you shop in-store or online for easy drive-up

and go pick up or delivery. Restrictions apply. See website for full terms and conditions. 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 Kalpom, I'm your host.

A thanks of being with us today. Glad you're here, ladies and gentlemen. Happy that you are listening. It is May 3rd, 2024. Hope you're having a good day. It's Friday. hope you're going to have a good weekend. I was headed to Omaha for the Warren Buffett, Berkshire Hathaway.

The thing of a bob, I canceled because tonight I'll be on a flight to NYC. But my brother's telling me not to come. We'll see what happens. He says everything's under control with my parents. I'd rather not go because I need rest. serenity now. But we'll see how the next hour goes. Ladies and gentlemen, I got lots to talk about. As always, Mr. Logic is here. We don't pull any punches. We have no bias, no agenda, no ulterior motive when we talk to markets, the economy, jobs, unemployment, taxes, deficit spending, scams, shams, corruptions, the Morlocks in D.C. You can go look up the word Morlocks and see where that comes from and why I bring it up. So this morning, you know, sometimes, we talk about our lives here. I'm driving early to Starbucks,

and I'm on a two-lane road, and it's only like a 35-mile-an-hour road, and there's cars in front of me, and I'm going slow. Because I stay away from cars. I have this rule. It's a simple rule. stay away from cars.

And in other words, I will let the next car in front of me be a very, very far ahead of me, but I will keep up with traffic. So this morning, I notice a woman cursing me out from behind me. Now, mind you, I'm moving, pretty much speed limit, but the car in front of me are, the car in front of me is, I don't know, know, maybe three seconds or four or five seconds in front of me. And she's cursing me out. And she's throwing me middle fingers.

You know how you throw a middle finger? You not only put it to them once and let it stick there, she keeps pushing it out to me. And I'm like, did I do anything? And I'm always curious. And she didn't look like she had a gun or anything. So I figured, you know, I'm going to make this left turn and see if she does also and see if she comes around my right. and it's exactly what happened. And I opened my window to the right, the passenger side, and she opens hers, and she starts F bombing me.

And I'm, you know, Mr. Calm, Cool, and Collect. I said, what did I do? And she starts telling me about the cars, I'm not keeping up with the cars. And I said, do you realize we're talking about two to three seconds? and I looked at her and I'm waiting for her to respond. I go, no, no, no. Do you realize for me to get to that car, we're talking two to three seconds of your life?

And her face is beat red. Beat red. And she looks again, I go, let me repeat that. Two to three seconds. And she gave me one last F bomb and then hauled ass. It's amazing. and you know we I see it a lot you know you're on the road and people are just

one inch behind the next person even though they have no place to go there'll be traffic and there'll still be one inch behind you and there's no place to go but anyway that's how I started my day I laughed but it's amazing to be that frustrated and so upset at 7.30 in the morning.

Just getting out of bed and into your car and getting it. I got through to her. It was only two to three seconds behind the next car. I think it got through to her, and that's why she got so frustrated and gave me one more F-bomb and went. That was my morning at 7.30. And I haven't had any espresso in weeks. I'm off the espresso's now.

and I spoke to the Starbucks people. They said business is down. And I have to tell you this morning, there were three cars in the drive-through, and there was hardly any cars getting anything in, maybe five people in there. I have seen days where there's 30 cars backed up and a ton of people in there. Things are changing out there, ladies and gentlemen, price-conscious consumers.

that's what's going on right now. Just letting you know, I'm seeing it. And I put it out to the audience, email me with your experience or your business and what's going on there. And I'm hearing from a lot of people in different businesses, in different areas around the country that there is some softening going on. We'll see how it plays out. But that's my morning. Hey, I was thinking to myself today, by the way, a strong up day in the market on another gap to the upside. But I was thinking to myself, what do people want to hear about today?

Anything stick out, and some days things stick out, some days they don't. So let's start with Apple. Apple finished up $10.33 today. It was up as high as about 14. Let's call it 14. And interesting enough, as I said to you yesterday when we were doing the show, every reported number out of Apple pretty much was lower. How does it go up?

Guidance was tepid. Notice the big word out of your handsome and buffed toast. So why the heck was it up on the gap, by the way? It was a gap to the upside, meaning it could close one place, open another place. And by the way, it opened really at the high. On the first bar, it hit 187, close at 183.36. What happened? How is that possible?

First, it's Apple. And sometimes when you're the Mr. popularity, anything can move things. But there's something that did happen there, and that was Tim Cook paid the shareholders. That's what happened today. Tim Cook paid the shareholders. that's what happened today how did he pay the shareholders it was not a dividend they announced a 110 billion a record buyback of stock with their cash the last i looked apple had like a 160 billion in cash but that's like a four-month old number they probably have more and they are a cash generating

machine. Well, how are you paying the shareholder by buying back stock? Well, they're going to buy back. And just so you know, there are a lot of companies that announce buybacks and never do it because usually when they say buyback at a certain time, certain price, and we don't have to do it. Apple always has. It's about four and a half percent of their market cap that buyback. 4.5% of the market cap. They're paying you 4.5% on your money. That's what happened. Apple finished up today, 5.97%.

That's all that happened. Because sales were down 4% year over year. Earnings were flattish. And going forward, it's kind of flattish. simple as that what happens with buybacks there's less shares out there earnings per share goes up so they make

earnings better because less shares because they're using the cash but there's a component that is not so great because with cash right now you can get 5% on your money three years ago you were getting zero so they're given up

getting 5% on that money to the shareholder We'll see how it plays out. There's a bottom line here on why they did it. Apple, stock has not moved in 28 months. It's off the highs also, but not much, but it has not moved in 28 months. So human nature says Tim Cook, I'm the CEO. Man, my stock hasn't moved in 28 months.

We got all this cash. What can we do? Well, they could have also done a special dividend. But then there's tax consequence. This way, there's not any realized anything. So that's the story. The problem for Apple stock is, I believe, going forward, is quite simplistic. It really is.

As we have told you here and showed you here throughout many years, the main characteristic of great stocks are the strong earnings and sales growth, the stronger the better, the longer the better. Yeah, I know that the game stops and the money losing biotechs, but overall, on the whole, strong earnings and sales growth. They have none. Up next. We'll finish with Apple. We've got to do Amgen.

That was interesting. That's up next on Investor's Edge. Hi, I'm Gary Kalbaum, hosted a nationally syndicated radio show Investors Edge. We're not just handsome radio people. We manage investors' money for a living, specializing in fee-based discretionary money management. 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,

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Hello, hello. I'm Malcolm Gladwell, host of Smart Talks with IBM. I recently spoke with IBM's new director of research, Jake Gambatta. We discussed his vision for the future of quantum computing. IBM research, what we always do is answer what is the future of computing, whether it's coming up with new algorithms, coming up with better AI, coming up with quantum, or coming up with just how do different accelerators go together. It's our DNA to answer the question of what is the future. Isn't it a perfect problem for IBM because you kind of need to have a legacy of building stuff? Yes.

Building actual physical machines. Yeah, it's why I came to IBM. I wanted to. I wanted to. the experience, the culture of building hard things that others have not done before. Where do you imagine we are in the timeline of this technology? There will come a point when it will mature. Right? Yeah. My cell phone is a mature technology at this point.

How far are we from that point with Kondo? By 2029, we'll build the first fault-tolerant quantum computer. That is one that can run a very, very large, large. problem. To learn how IBM is building the future of computing, visit IBM.com slash quantum. Amazon Hub Delivery wants to partner with your business. Help your business. Help your neighbors. Discover a new stream of income for your business when you partner with Amazon Hub delivery. You and your team will deliver Amazon packages to customers in your neighborhood on a schedule that works for you, and you'll be paid for every package you deliver. Getting started is easy.

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Hey, it's Ryan Sechrest for Albertsons and Safeway. It's stockup savings time now through March 31st. Spring in for store-wide deals and earn four times of points. Look for in-store tags to earn on eligible items from Celsius, Body Armor, ORA-Ida, Silk, Capri-Sun, Bavarian Meats, and Charmin. Then clip the offer in the app for automatic event-long savings. Stack up those rewards to save even more. Enjoy savings on top of savings when you shop in store or online for easy drive up and go pick up or delivery.

Restrictions apply. See website for full terms and conditions. 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, with Apple, I'm completely actually. I don't own any. The problem is simple. If they can't grow the business, it's going to be pretty much a dormant type stock. Now, of course, they can always come out with something that starts growing. The other problem is it's just so big. They do $380 billion in revenues.

It's very tough to grow the business from there. That's why I've always been amazed about Walmart. When they were at $3.80, you're thinking they're very tough to grow, and now they're doing $6.50. So maybe Apple can do $650, $650 billion one day. We'll see. As of now, here's the other thing. Have you noticed they were going to do cars and then they weren't? And then they announced cars again and then they immediately dropped the cars.

And now all of a sudden it's all AI. It's kind of like it feels like they're going to the flavor of the day. so but and I know everybody's doing AI and everybody's going to be AI and AI this and AI that and your burger's going to have AI and your steak's going to have AI and you're going to go to dinner and you're going to have AI and everything's AI this and AI that we'll see anyway that's my take I'm agnostic on it we'll leave it at that AMGEN I have no idea so AMGET also has been pretty much a dead stock and closed yesterday at 278 in change and open today. Well, in the second bar, it hit 32, up 44 bucks. And this is not a small company. I believe they do, 15 minutes. I'm looking now, 13, about 28 billion in revenues.

They reported earnings, and the stock was down $8 in the aftermarket. I can see it on my screen, down $8. Within two minutes, it was up $37 during the show yesterday. What they announced was, well, they had this oral pill for the obesity to go up against Eli Lilly and NVO, whatever they are. But then now, that's Novo Nortis. Now they're going towards the injectable. And all they did was say, well, we're not sure how. long but it seems to be favorable they really didn't go further than that yet

forty four dollars that's how much this obesity thing and guess what happens to Eli Lilly down 21 bucks today and Vio was down to that has me scratch in my head why it would be up 33 bucks when number one they're not sure yet number two even if it comes on market. What if it doesn't sell well? There was some big bets made today, ladies and gentlemen, on this. And I was just, it's not, I'm not buying into it because of that story. But certainly a hell of a lot of more people did, maybe smarter than me.

So just letting you know there was some things going on. And then we had a jobs number. And I think the trend is now heading down. Not necessarily bad down, trends going down. Slower. And I must tell you, it nauseates me when I hear pundits or central bankers say, we need to have a softer job market. That means people are getting fired.

The way I look at it, anybody who's happy that there would be a softer job market, they should have their asses fired. But the story goes if we have a softer job market, the Fed, the central bank, will be more tending to lower interest rates, which markets have loved forever. Yay. So let's have a softer job market. So what happens is we were up in the morning, and then when the job market was jobs were announced, interest rates immediately tanked. And boom, we were on, I think we're up five. 500 at the open on the Dow.

We're close. Let me see. Yeah. On the second bar, we're up 38808. That's 121.33. We're up 583 on the open. Let's call it the open. The NASDAQ right near the open was 365.

Because the economy's softening. Well, that's how it works. It's quite perversible. on Wall Street. Just let you know. Easier money has been the mother's milk of the markets. And if the tendency is to believe that we are getting it, and of course on Wednesday, our central bank did ease even though they did not lower rates. They lowered the threshold of the unprinting of their printed money, and that is easing. and we've had two good days on that at this juncture.

And the fact that rates were lower again today is actually good news. Cost the capital, cost the mortgages and all that fun stuff, while they twiddle their thumbs at the central bank. And as I have told you, and again, nothing personal. They don't do anything for anybody. They're the most overrated dufuses on earth. Nobody's ever asked, what do you do for anybody? How do you help?

Well, you know, we stand fast when things were, and you know, we had COVID, we opened up the spigot, we took rates down to zero, and we printed to $9 trillion. Didn't help. It created inflation. You know, it helped? The PPP. And then we finally opened up. That's what did it. They didn't do anything.

They keep taking credit. So anyway, the market got juice today. I can't really say anything bad about the market today at all. It was a good day off the highs at the end of the day. But no biggie. That said, you know me. I'm Mr. In-depth. I scanned 1,500 stocks already today.

I think we're going to need some more work before we can really get going. And interesting enough today, at the close today, even with today and yesterday, which was a good day, that was up a percent this week. The S&P? That can't be right. Nah, can't be right. The S&P only up a half percent?

Is that right? Can that be? Close at 5100, 5127. Hmm. Hmm. I'm going to have to look that up better. I think that's a mistake. I'm looking one more time.

Closed at 5099. Yeah, that's it. Wow. Go figure. The NASDAQ was a little bit better because it's the NASDAQ, up about 1.4, same with the NASDAQ 100. Up next, we'll keep going. Thanks to be in here. I'm Gary.

This is the one only investors ed. Hello, hello. I'm Malcolm Gladwell, host of Smart Talks with IBM. I recently spoke with IBM's new director of research, Jake Mbeta. We discussed his vision for the future of quantum computing. At IBM research, what we always do is answer what is the future of computing, whether it's coming up with new algorithms, coming up with better AI, coming up with quantum, or coming up with just how do different accelerators go together.

It's our DNA to answer the question of what is the future. Isn't it a perfect problem for IBM because you kind of need to, to have a legacy of building stuff, building actual physical machines. Yeah, it's why I came to IBM. I wanted the experience, the culture of building hard things that others have not done before.

Where do you imagine we are in the timeline of this technology? There will come a point when it will mature. My cell phone is a mature technology at this point. How far are we from that point? with quantum. By 2029, we'll build the first fault-tolerant quantum computer. That is one that can run a very, very large, large problem. To learn how IBM is building the future of computing, visit IBM.com slash quantum. Want to earn extra income for your business? Amazon Hub delivery is looking for ambitious

business owners to assist with local deliveries. When you become a partner, you and your staff will deliver packages to customers in your area on a schedule that works for you. With each package delivered, You'll gain extra income and exposure for your business. Plus, Amazon Hub Delivery makes it easy to get started. There's no upfront costs, delivery experience, or long-term contracts required. Sign up to learn more at Amazon.com slash hub delivery. That's Amazon.com slash HUB delivery. Hey, it's Ryan Sechrest for Albertsin's End Safeway.

It's stockup savings time now through March 31st. Spring in for store-wide deals and earn four times of points. Look for in-store tags to earn on eligible items from Celsius, Body Armor, or Ida. Silk, Capri-San, Bavarian Meets, and Charmin. Then clip the offer in the app for automatic event-long savings. Stack up those rewards to save even more. Enjoy savings on top of savings when you shop in-store or online for easy drive-up and go pick-up or delivery. Restrictions apply.

See website for full terms and conditions. We're listening to. America is talking. Investors Edge. He's got to be pleased with that. The crowd is just on its feet here. He's a Cinderella boy. With Gary called Bob.

It comes highly recommended. You're going to feel better if you talk to them. And welcome once again to Investors Edge. Thanks for being with us today. Hope you're doing well. Things are quieting down in some of the campuses because finally the authorities use some authority. But I must tell you, unfortunately there's going to be no repercussions for the criminals and the crooks and the terror threats. Nothing's going to happen. By the way, there's still some more anti-Israel protests, but oh, they're calming down.

Just remember, most of these people are a bunch of stiffs and a bunch of wimps and have not a clue what the hell they're even doing. There's a bunch of agitators paid and hopefully they're found out. I still believe 99.99% of us are not them. And that's the good news. And as I've said, all you've got to do is go to a movie this weekend, go to a basketball game. Oh, the Knicks took out Philadelphia last night. Yay! What a great series.

What a great series. And Jalen Brunson, if he ain't MVP, I don't know what it is. Just go anywhere and you'll just see people go to the mall. You know, you're not going to see? Ass clowns. Racist, anti-Semitic ass clowns. You're going to see people just... In the food court, having some food, in the stores, buying some things, or just browsing.

Go to the playoff basketball game. You can have a great time. Maybe professional wrestling is in your town. You'll have a blast. Just remember. It's organized. I want you to remember that. And I know a lot of people dejected.

I'm dejected if anybody's like that, but I still believe that most of us are pretty good stead. Now, as far as Bernie Sanders, go screw yourself. AOC, go screw. Rashida Taleb, go screw. Joe Biden. I'm not going to say, go screw to Joe Biden, but I will say, boy, you suck. When you're a leader, and I understand the political part about things, but when you're a leader and you have a crisis on hand, you got to put away all the political crap and do the right thing. And he has not.

He sucks. he should not be president for another four years, which means we would get the other guy. Yay. But at least the other guy has come out very strongly against what's going on. What a concept. And it would go for any racism if I was running the show. I would stomp it out before you say boo.

So that was that. Earning season we've gone through most now. There's more, but there's no longer 13 pages. Here's what I do. So you have understanding. Remember I said that I have 13 pages of earnings this week? That's now passed. I also have five pages in front of me that are separated left to right.

Left are things that gap up. Right are things that gap down. Left are things that have strong reaction, not necessarily gaps. On the right is strong reactions to the downside, not necessarily gaps. And I will go through them all, 13 pages. And I know I miss some. And usually the things that I missed are things that trade 80,000 shares a day, or lower priced.

But I'm going to go through every name. Take me maybe a half hour. And I'm going to get a feel for what the heck's gone on. And when I scanned 1,500 stocks today, I was, the good news is two good days. The good news is, by the way, here's, here's. a headline the NASDAQ finished above the 50-day move-in average today but Apple and we'll see if that sticks but Amgen and I'm a little bit dubious on Amgen still being up 33 at the close even though it was up 41 but when I go through name after name after name after name after

after name after name. I think there's some more work to do before, and let's assume, the market gets going again. I think there's going to be some more backing and filling, filling and backing before things can really go. That's what I think. In this day and age, anything is possible because you're dealing with numbskulls interfering with markets. You know what I mean.

The good news is we don't have another six weeks before. before Mr. Bubble chimes in again with the next move. I do believe that if interest rates cooperate, he'll be closer to lower his rate, whatever. As I have told you, I don't think it's that meaningful. Lowering his rate just plays a little catch-up to what the 10-year yield is, and that's the vital rate. But two good days.

But again, at the close of the week, less than met the eyes, there is leadership. I've got the list. In big financials, Goldman Sachs, but JP Morgan's waning. In the big tech, Amazon's above the 50-day, but just range-bound. Nvidia's back above the 50-day, but just range-bound. Google gaped up to new highs but is filling the gap already and really not getting going. We know about Apple gaping up today, but not so sure.

something like a Spotify's got good relative strength. We mentioned China yesterday. It edged up a little bit today. Looks good. In the restaurants, Chipotle Axwell, Texas Roadhouse, Axwell, Wingstop, Axwell, ShakeShack Axwell, Kava, Axwell. But Cheesecake Factory Cracker Barrel, Darden, Dine Brands, Starbucks, yum brands, they act like crap, especially the Starbucks.

Man, oh, man. And I don't know what Starbucks is going to be able to do with coffee prices stay up. It's going to be a tough road. That's going to get real interesting. And by the way, they're opening Starbucks left and right everywhere. Where I live now, I'm going to say there are five Starbucks within three square miles. And we're not talking New York City. New York City is like every block.

Starbucks people are going to have to start realizing people are getting price, conscience and people are making coffee at their house. Enough. Seven bucks for what? For a latte? Have a nice day. And we're going to be watching to see, by the way, Chipotle's been one of the strong stocks.

You know what the CEO said? Oh, we're watching. Because Chipotle had to raise prices. And so far they're saying, we're good. And Chipotle's sales growth last four quarters, 14, 11, 15, 14, 14, quite respectable. It's quite respectable. So we'll go into next week.

Less amount of earnings. The Fed's gone. Better tone. But again, I repeat. I think there's more work to be done before if we get going. There's too many stocks still in bad shape. Too many stocks in bearish phases. Too many areas.

The transports are a horror show. They bounced up a little bit this week. Blah. Horror show. And in case you don't know, transports are probably important. Retail. A ton of names, just horror show. Though Costco may be starting to emerge a little bit, for good reason.

They're pretty darn good at Costco. But we're watching very, very closely right now, a little bit more. Maybe trending lower on the economy and the job market. I'll be speaking to some businesses in the next few days. and some chieftains of business to get a feel. But sometimes you don't have to speak to somebody in industry to know what's going on. I'll be also checking to see auto dealerships. Inventory big?

Have you noticed inventory dealerships? Have you noticed the advertisements now? They're giving away more. Do you know why they're giving away more? It's not because they're nice. because they think they have to. Why do they think they have to? Demand.

So just putting the pieces, little pieces of the puzzle together. Which means interest rates will go lower. Now, if interest rates go lower because we're going to have a deep drop in the economy, the market won't do well. Just remember that. Up next,

this is that and the other thing or whatever else. This is the one only investor's edge. Hello, hello, I'm Malcolm Gladwell, host of Smart Talks with IBM. I recently spoke with IBM's new director of research, Jake Gambata. We discussed his vision for the future of quantum computing. At IBM research, what we always do is answer what is the future of computing, whether it's coming up with new algorithms, coming up with better AI, coming up with quantum, or coming up with just how do different accelerators go together.

It's our DNA to answer the question of what is the future. Isn't it a perfect problem for IBM because you kind of need to have a legacy of building stuff? Yes. Building actual physical machines. Yeah, it's why I came to IBM. I wanted the experience, the culture of building hard things that others have not done before. Where do you imagine we are in the timeline of this technology? There will come a point when,

will mature. Right? Yeah. My cell phone is a mature technology at this point. How far are we from that point

with quantum? By 2029, we'll build the first fault-tolerant quantum computer. That is one that can run a very,

very large, large problem. To learn how IBM is building the future of computing, visit IBM.com slash quantum.

Want to earn extra income for your business? Amazon Hub delivery is looking for ambitious business owners

to assist with local deliveries. When you become a partner, you and your staff will deliver packages to customers in your area on a schedule that works for you. With each package delivered, you'll gain extra income and exposure for your business. Plus, Amazon Hub Delivery makes it easy to get started. There's no upfront costs, delivery experience, or long-term contracts required. Sign up to learn more at Amazon.com slash hub delivery.

That's Amazon.com slash HUB delivery. Hey, it's Ryan Seacrest for Albertsons and Safeway. It's stockup savings time now through March 31st. Spring in for storewide deals and earn four times of points. Look for in-store tags to earn on eligible items from Celsius, body armor, or aida, silk, capricson, Bavarian Meets, and Charmin. Then clip the offer in the app for automatic event-long savings. Stack up those rewards to save even more. Enjoy savings on top of savings when you shop in-store or online for easy drive-up and go pick-up or delivery.

Restrictions apply. See website for full terms and conditions. You're listening to... What are we waiting for? What are you waiting for? One, two, ready, go. Investors Edge with Gary Culper. And welcome once again to Investors Edge.

So we are the United States of America, and if you haven't noticed in the last few years, there's a big difference between states run by different people. The control freaks are killing their states. The hands-off people are seeing their, States flourish. The high-tax states are running major deficits. The low-tax states are running major surpluses.

The strong-on crime has less crime. The easy-on-crime has more crime. Duh. And when I say on Mr. Logic is because I believe that, I still remain stunned how so many out there, not so many, but any out there, continue to have this no-beck crap. You can steal $949 and not get in trouble, but $9.50 you will,

which begs the question, are these people just morons? So when you have a chance, I just want you to go read Daily Mail. It's out of the UK. Dailymail.com, you can go look. There's a front article on Illinois. Soaring unemployment, skyrocketing debt, and punishing. taxes send residents for Illinois is grappling with issues which have triggered a rock state has struggled to add jobs public pension debt is balloon and you can read why

why is their control freaks run on the joint and they're too on crime and their taxes are too high and again you just ask yourself a question California you have anybody ever been there it is magnificent it is so beautiful I've been up and down that state many times whether it's san diego magnificent i lived in rancho benardo for a little bit of time and used to hang out with friends in lojoya magnificent i have played golf in pebble beach carmel carmel by the sea the beautiful whatever mile drive san fran beautiful north of san fran the redwoods The, it's beautiful. Gavin Newsom and people running the state are killing it.

And the only reason why the state thrives and they don't realize it, they think it's them. It's because of the people. But I heard this story the other day, oh, more people are going into California than leaving finally. And they're happy about that, that so many people have left. And of course, they're running major death. even though their taxes are high while Florida is running a surplus and we have no state tax. So they're coming up with an exit tax, meaning if you leave the state, we're going to still try to tax you because you were here and you benefit from us.

You know what I say to them? Screw you! So now Illinois, same thing going on. And Chicago, of course, is the big city there. they got rid of a terrible mayor and they brought on a bit more left of a mayor and now he's hated what happened recently cops being killed why disrespect the cops the mayor tried to show up at the funeral got kicked out family said get the hell out of here that shouldn't be so when you have a chance go read that we tell you to because we just want to let you know what's going on there

and we want to let you know that Joe Biden's trying to do it to the country. And when you have a chance, we want you to, Google, just Google these words. Joe Biden wants to raise capital gains taxes and go read what he wants to do and how crazy it is. Go Google the words Joe Biden wants a wealth tax. Go Google what's going on in California once they raised. wages for fast food workers above what businesses

were begging them not to go Google Joe Biden wants an unrealized gain tax just remember when you buy a stock now and you sell it you pay a tax

Joe Biden wants to tax you if you buy a stock now and you don't sell it but you're up seven grand and they'll pick a date that, oh, on this date, whatever it is, if you don't sell it, we don't care. I can't tell you how moronic it is, how stupid, how illogical it is to ever tax unrealized gains. How nubskolish, crazy, illiterate, moronic, dufous-like to even think about it.

just like Bernie Sanders once proposed, and you can go look it up, he did, a 100% tax on anything you make above a million dollars. Which all you got to do is ask the question, why the hell would I work another minute in a year once I made that first million? But he still proposed it. That's how crazy these people are. and I want to make sure you guys are educated about it and I'm addressing all of you. I don't care whether you're an R, a D, a wig party. I don't care what race, creed, color. You need to understand this because the greatness of this country is the opportunity to become great, wealthy, philanthropic, mentor, you name it, without them in our way.

and all these proposals from Biden get in your way and there's no bias to it. So take a little bit of time. Educate. Because if he gets his way, you might as well cut the economy down to size. All right. That all said.

Have a great weekend. Drive carefully. And when you get home, do like we do. It's quite simple. make sure you hug your family, hug your children, they will feel better, you will feel better, I promise. Have a great one, everybody. Stay well, be well.

And if somebody's cursing you out driving, make sure they don't have a gun. Peace out all. Take care. Bye-bye. This has been Investor's 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. Want to earn extra income for your business?

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