Investor's Edge with Gary Kaltbaum - Managing risk [03.21.2024]

Episode Date: March 21, 2024

https://garykaltbaum.com/

Enjoying a healthy dinner that tastes great means eating out at a pricey restaurant, right? Wrong. Healthy Choice Simply steamers are delicious and healthy. The tray-and-tray steam technology delivers crisp veggies and tender protein and tasty selections, like Healthy Choice Simply Steamers grilled chicken and broccoli alfredo. It's a satisfying meal with 28 grams of protein and nothing artificial. Healthy Choice Simply steamers. What happens to be able to eat.

it all tastes like. 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're here, ladies and gentlemen.

Happy that you are listening. It's Thursday, the 21st, March, 2024. You know many times I feel like saying 2020, and it doesn't come out. The days are moving too quick. The years are going. By the way, for all you that are in your 30s and 40s,

and you think, oh, with everything's fine, it gets faster. The days get shorter. The years get shorter. Everything gets shorter. I feel like I'm missing a decade, maybe even two. Not kidding. Hey, hope you having a good day.

Ladies and gentlemen, I titled Today's show that I put up on my website, which is garyk.com, managing risk. And I just have to explain every now and then managing risk. Certain things show up. Certain things occur in the markets, where I really feel I have to say to you, managing risk. And basically what that means is just knowing what the heck's going on, just knowing what's out there, not paying $5 for a $1 bill. And through the years, we have walked through so many scenarios with you, through the years about, wow, what price is that? what are they doing I still remember the NFTs

which I don't know what really what's going on with them right now but the last thing I read was the original guy this very rich person who did an NFT at and he paid $2.5 million

he put it up for sale and there was an offer for like 50 bucks and again I don't know what's happening there right now but I watch I think I have a decent feel, just managing risk. So, first off, if you do not get this radio show and your city,

we'll post it at garyk.com, we'll also post it on our Twitter feed, which is now X. And if you don't follow us on Twitter, maybe you should. You go to X, put our name in, and you can follow us, and you can email me. All you've got to do is be nice. It's very simple. Be nice. just remember something about me and this show.

All we try to do is put our best foot forward. We will never, ever, ever compromise on you. We will never ever screw you. We will be wrong. The markets are about being wrong, but we will be wrong fast and be wrong small. We will be right

and hopefully right leads into something of consequence, but we will always put our best foot forward. That is our promise. So as I said today, I have to start with managing risk. I'm just noticing some things of import. and in order to go over them, we need to go backwards. And we need you to remember some things we did on this show. And when we go on TV and in our thoughts and everything, one of our favorites, one of our favorites is Rivian.

They went public, I believe it was November 10th, at November 10th, it was a $78 IPO, initial public offering, and it opened at $100. It opened at $100. At $78, it had about a $72 billion market cap. That is not a typo. A $78 billion market cap. That is not a typo. At $78 billion market cap. That is not a typo. the time they had delivered 40 automobiles to employees. They had not sold a car yet, though we know that Amazon had a thing with them, they own a piece of it and had a partnership to buy a decent amount of their cars. But it's still got a $78 billion market cap. That did not stop the stock from closing at 100, and in four days hit a high of 178. at $178, it had a market cap of about $170 billion of market cap.

The worth of the company in the market, the stock market, was $170 billion, even though they had not even sold a car. We knew eventually they would sell cars. We had no problem with that, but they had a $170 billion market cap. And that market cap was close to the market cap of GM and Ford put together, even though they had $260 billion in revenues and Rivian had zero. That Monday, we went on with Charles Payne and he asked me about it. And I pretty much said, it's worth $20 if you ask me. And it was a little sarcasm, and I just came up with a number. but I came on this show and did the same for you.

Well, well, the stock just hit, it's all-time low at $10. And by the way, they have revenues now. By the way, they did a billion in revenues the last three quarters, but by the way, every car they sell, they're losing a few thousand bucks. That's what we mean by. Managing risk. Just managing risk. No, no, no, no, no. Just managing risk. They were asking you to pay $170 billion with a company that was, first off, losing a ton of money no matter what, and was still not selling cars yet. Though as we said, though as we said. Now, there's also other things about managing risk.

craziness. We have highlighted for you back in 99, and boy, that was a time, where mutual funds were changing their names, from the technology fund to the internet fund because internet was hot and they wanted to attract dollars. And when the internet busted, they changed it back to technology fund. This is a true story. Companies would announce, simply announce, they created a website. or they added dot com to their name.

And the stocks popped because they knew it. And subsequently, they all got crushed. Subsequently, managing risk. Not paying $5 for a dollar bill. Not that hard to figure out. You really can see it sometimes. And it really stands out sometimes.

Sometimes it's just like one big gigantic sore thumb. And you take a step back and say, what? Huh? How can that be? But we also know ultimately there is a line that I coined and that line has always been ultimately price will go back to where it should.

Ultimately, the value of the company will be borne out, especially the wows. What? Huh? And what we have been seeing lately with artificial intelligence, and by the way, some of these companies on the move in artificial intelligence have great earnings and revenue growth.

and then some others don't. And some others, it seems they're just mentioning it, even though it's already news. And I only want to name names except to say, I watched in the last day as one company stock that got trashed because of real earnings report. yesterday announces some A-I which was pretty much well-known and they still pop the hell out of the stock and who knows

maybe it'll just keep going maybe it won't we just think right now these seconds gotta just think about managing risk a little bit more up next I'll explain not done 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' money for a living, specializing in fee-based discretionary money management. No big commissions, just a fee on the assets that's managed.

We also provide a full range of personalized services, including retirement planning, fixed income, and educational needs, all to assist you in achieving your financial goals. Understanding not all individuals have the same needs, will carefully evaluate your personal goals to determine a proper investment strategy. If your current approach to investing is not getting you to where you would like to be, call us to make an appointment for a complementary portfolio review. The number to call is 888-4-2-5-59.

That's 8-8-5-59. That's 888-4-22-55-59. Investment advisory services offered through call-bomb Capital, management. Hi, I'm Dr. Jake Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist Victoria Motola, who explains why so many of us live with stomach issues we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomach

every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just have a stomach kick every day. Or I'm constantly feeling like gassy. And all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change.

Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and Eyeheart Radio. Listen now wherever you get your podcasts. Struggling to see up close, make it visible with Viz. Viz is a once daily prescription eye drop to treat blurry near vision for up to 10 hours. The most common side effects that may be experienced while using Viz include eye irritation, temporary dimmer dark vision, headaches and eye redness. Talk to an eye doctor to learn if Viz is right for you.

Learn more at Viz.com. On Deck is built to back small businesses like yours. Whether you're buying equipment, expanding your team, or bridging cash flow gaps, OnDEC's loans up to $400,000 help make it happen fast. Rated A-plus by the Better Business Bureau and earning thousands of five-star trust pilot reviews, OnDec delivers funding you can count on. Apply in minutes at ondac.com. Depending on certain loan attributes, your business loan may be issued by OnDec or Celtic Bank.

OnDec does not lend in North Dakota. All loans and amount subject to lender approval. It's time to switch on the integrator units and get the brain sales 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. Okay, so let me get to my point. First off, Reddit came public today. That is not my point. It has nothing to do with Reddit.

Simple now is our DTT. I know the company. I don't know it intimately. I know what they do. I've been on it just to check it out and stuff. And I find a bunch of porn on there. You could correct me if I'm wrong. But I find a lot of that on there, though there's other things on there. And of course, there was the Reddit crowd when the GameStop thing was going insane at that time. But this is nothing to do at Reddit. And Reddit It came public today. It closed today at $50.52.

I believe it was a $36 deal. Hit a high of $57, hit a low of $45, closed at $50.52. But I noticed something else today, and it just comes under the heading of managing risk. So if you are a investment bank and you want to bring companies public, you want to bring them out at the highest price because you are working for them your client, even though you really should also be working for those who would be buying the stock in the aftermarket. There's an IPO, initial public offering and then an opening of the stock. and unfortunately part of that is listen an investment bank and the booking people just have to match the opening to how much demand there is simple as that i heard reddit was very much oversubscribed and demand was strong and that's why they opened it strong but again this has nothing to do with reddit what it has to do is a company i've never heard

of that is described as designed semiconductor-based connectivity solutions to unleash the potential of cloud and of course AI infrastructure. And this is not a rub or a rip on the company. It is a rip on the valuation of the stock coming under the heading of managing risk. and this is not me telling you to buy it, sell it, short it, or cover it. It is not me telling you it's not going to triple from here in five days. It is not me telling you it's going to be cut in half in five days.

It is me telling you, holy crap, really? It's called Astero Labs. The symbol is A-L-A-B. A-L-A-B. And of course, there's an AI component to it. And the IPO price came out, I believe, $36 a share. At $36 a share, IPO, let me do something for you.

There's 153 million shares outstanding. 153 times 36, 5.5 billion dollar market cap. You're paying $5.5 billion at IPO. At 36 bucks, company has 100 million in revenues and never has made money. But it's AI. So they opened the stock up between 50 and 54. That was the first five-minute bar. and hit a high today of 80.

80 times 153.2 is a 12.256 billion dollar market cap for a company that loses money and is only 100 million in revenues. Catching my drift? But it's AI. And remember, we're not telling you to buy sell short cover, and we have no clue whether it triples from here tomorrow.

or gets cut in half. Well, it hit 80 today and closed at 64. So if you decided to buy the high today, the second day of trading, you're down 20%. First off, that's managing risk anyhow. But we're already getting what I consider to be freaking nonsense. Brought to you by the underwriters, but the investing public who would actually take it to $80 today, a $12.256 billion market cap with $100 million in revenues. Them dogs don't hunt. Or maybe they do. Let me repeat. Who knows if they're going to triple it tomorrow?

They can make an announcement. Well, there's probably a quiet period right now, so I doubt they can. But who knows? I don't. But I'm bringing this up. Maybe a signal. I think we're still early, but maybe a signal. Maybe a heads-up. I don't know. But they just brought out a company public, a $5.5 billion IPO, and the next day got it up to $12.256 billion, even though they have $100 million and says, I am sure they're going to grow the company.

I'm just letting you know. coming under the heading again of managing risk. That's all. Just managing risk. I felt that necessary to bring up today because, you know, there's a little bit of froth out there. The move in a couple of AI stocks in the last couple of days, off of just an announcement

stunning though may I state for the record even with yesterday's 90 minute pop on J. Pal and we had a gap open today which got sold that March 8th for the semis still

overhang still hovering still to be watched and we'll get to that little bit which takes me to with segwaying a little bit Apple was down $7.30 today? What the hell's going on?

Our government doesn't like them, and they're suing them up the wazoo. The Justice Department for they say it's a monopoly. A monopoly. Let's see. I sell iPhones. Monopoly. Now, in case you don't know also, something else happened recently, that kind of sort of got a little bit of media attention for like a day

and then went by the wayside. Up next, what did Apple get hit on? This is the one only investors edge. Hi, I'm Dr. Jay Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health

with CVS pharmacist Victoria Motola, who explains why so many of us live with stomach issues, we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomachache every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just have a stomach ache every day. Or I'm constantly feeling like gassy.

And all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can be able to be a healthy gut. probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how gut health affects so much

more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeartRadio. Listen now wherever you get your podcasts. Struggling to see up close, make it visible with Viz. Viz is a once daily prescription eye drop to treat blurry near vision for up to 10 hours. The most common side effects that may be experienced while using Viz include eye irritation, temporary dimmer dark vision, headaches and eye redness. Talk to an eye doctor to learn if Viz is right for you. Learn more at Viz.com.

OnDEC is built to back small businesses like yours. Whether you're buying equipment, expanding your team, or bridging cash flow gaps, OnDex loans up to $400,000 help make it happen fast. Rated A plus by the Better Business Bureau and earning thousands of five-star trust pilot reviews, OnDec delivers funding you can count on. Apply in minutes at ondeck.com. Depending on certain loan attributes, your business loan may be issued by OnDx or Celtic Bank.

On deck does not lend in North Dakota. All loans and amounts subject to lender approval. 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. So in case you don't know, and by the way, we're just stating a fact. We're not making a comment on Apple or not. Apple just decided to settle a lawsuit that claimed CEO Tim Cook defrauded investors in 2019, and they paid $490 million in the settlement. The lawsuit was over a statement Cook made during a quarterly earnings call at the end of 18.

He named the number of markets where iPhone sales were being affected by various economic factors but declined to include China's an area of concern. And of course, there was an area of concern. Whatever. Just letting you know. Hmm. Anyway. But now Apple, I'm just putting in the Justice Department and let's see.

Justice Department is Sue and Apple and 16th State and District Attorney's General I still don't understand an attorney's general shouldn't it be an attorney general? What's the Attorney General? That they've engaged in anti-competitive behavior and created a monopoly in the U.S. smartphone market with its iPhones. They control 70%, I believe,

and I'm thinking to myself, wait a minute. What's a company's job? to sell as many things as they want. Does Chipotle have a monopoly on burritos? I'm just thinking. Anyway, they filed a lawsuit in federal court has harmed American consumers. Let me tell you where they harm American consumers.

They let the batteries die on old ones, so you've got to get new ones. There's no doubt in my mind. and now my I have the I think the 13 and now when I go to the I try to move it and whatever

it doesn't work as I have to shut it down first and bring it back up so there's no doubt they're playing with my phone in order to get another phone I really do believe that's going on anyway the Attorney General Merrick Garland is going after them they did a press conference they employed a strategy that relies on exclusionary anti-competitive

conduct that hurts both consumers and developers I've got to believe this Oh, let's see. Apple exerted control over how apps can interact with Apple's software and often made it difficult or coarsely for users to switch away from iPhones or use a non-Apple smart watch with an iPhone. I'm not so sure. But if I'm Apple and I made this watch and I spend zillions of dollars to come out with it, I don't want it to deal with other phones. I want it to be with my phone. Why is that anti-competitive? Well, that's what they think. So just letting you know Apple got squashed today. But that takes me to my other part of my equation. And I just, this is a segue, including Apple.

And we're not making this up. Anybody know who's Senator Tommy Tuberville is? I think he used to be a coach for football. He just bought a crap load of Apple-put contracts just in the last week, or two, right before the Department of Justice announced this thing against Apple. So a sitting senator made a leverage bet on options, leveraged, on the biggest market cap in the world's company. I think Apple is, or close.

Maybe somebody's a little bigger right now. I don't know. And you want to know why we think these people suck. Insider trading. By the way, I'd say it to his face. Why did you do that? Huh? Anyway, I just had to mention that too.

Tommy Tuberville. I'm not sure which state he's in. It's got to be a southern state. Because I know he speaks southern. And it was a southern college. Let's see. Tuberville state is Come on

politician Come on What is going on here I can't even Oh I'm not You know what I'm on I'm on Yahoo! Yahoo stinks

Google.com Tuberville Don't you love I do this right While I'm doing a radio show Senator State What state is Arkansas Anyway Way to go Tuberville

So anyway, we just wanted to start today with that. We also want to mention the numbers. The NASDAQ today opened, opened, opened right at the high today. Within minutes of 16-538, it was up 170, closed only up 32, the low of the day. I don't know if that means anything or not. But man, it got awful, awfully hypey after the Fed yesterday and the gap up today. Just letting you know. And the semiconductors, which finished up 109, I believe was up a couple of hundred today at one time.

4983. Yeah, over 200. Real hype today, the AI stuff. and as I looked, yeah, a bunch came in pretty decently, but I'll have to look it over later. I'll have to look it over later. So anyway, I just wanted to start today managing risk. The biggest money is lost when you join in on the mountaintop without thought.

without thinking, without, hey, what's the market cap of this and what's their revenues, and do they make any money? And you don't, maybe you don't know, maybe you do? Do you know how much money was lost in the SPACs, in GameStop, in AMC theaters, in Robin Hood, which right now is actually strong relatively, in the Rivian, in the marijuana stocks, in the Pelotons, in the Madonners and those things that went

ape, you know what, to the upside during COVID and that dropped 90-some-odd percent. Just tons. Do you know Citigroup closed today? Just making sure you know this. It's 61. But it's not.

It's $6. They did a one for 10. Stock still down 90% from the highs of 08. We're just just manage risk because you don't know. But I do know right now there is some froth,

there is some speculative fervor. And maybe it can go. I heard a very smart person on TV today. I'm not going to mention who. Thinks, oh, this can be another two, three years. And we don't deal that way. We don't know what I eat for dinner tonight. But just this AL,

L.A.B. You know, 12 billion market cap with 100 million in sales. Come out with an IPO at 5.5 billion with 100 million. But it's AI. I think you get my point. I felt it necessary. And again, I'm going to repeat myself to make sure you get where I'm going. I have no clue with this ALAB, estera labs, triples from here tomorrow or drops 50% from here. I just know what its market cap is versus its sales and their earnings, which are actually losses. That's all we're saying. Nothing more, nothing less. And we're not wewing on the company. And I hope they become a monstrous success story. Monstrous. We wish them well. Just managing risk. You know, I think I told you this that I was on

Instagram. I have an Instagram account, but I do nothing on it. I post nothing. But I follow some things. The only reason I got on there was from my back when my back was bad. But somehow they push things to you and I don't know why. They pushed to me dash cam videos of people getting in accidents.

And every one of the accidents and boy oh boy, there's some nasty ones could have been preventable. We're preventable. Every one of them. None of the people that were in the accidents manage risk. They were all speeding, going through red lights, looking at their phone, going through stop signs, killing somebody or killing themselves, managing risk. We're done with that.

Up next, the rest of the market. And whatever else, I'm Gary. This is the one only investors' edge. Hi, I'm Dr. Jay Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist Victoria Motola, who explains why so many of us live with stomach issues we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomachache every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just have a stomachache every day.

Or I'm constantly feeling like gassy. and all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeart Radio. Listen now wherever you get your podcasts. Struggling to see up close, make it visible with Viz. Viz is a once daily prescription eye drop to treat blurry near vision for up to 10 hours.

The most common side effects that may be experienced while using Viz include eye irritation, temporary dimmer, dark vision, headaches, and eye redness. Talk to an eye doctor to learn if Viz is right for you. Learn more at Viz.com. Cashflow crunch? On-Dex small business line of credit gives your business immediate access to funds up to $200,000 right when you need it. Cover seasonal dips, manage payroll, restock inventory, or tackle unexpected expenses without missing a bee. with flexible draws, transparent pricing, and control over repayment. Get funded quickly and confidently.

Apply today at on deck.com. Funds could be available as soon as tomorrow. Depending on certain loan attributes, your business loan may be issued by OnDec or Celtic Bank. OnDak does not lend in North Dakota. All loans and amount subject to lender approval. 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. And walk once again to Investors Edge. By the way, speaking of those dash cam videos, if you can stand it, and there's some really vicious-looking crashes, if you have like teenagers that are starting out driving and they're driving a little bit crazy,

make them watch some of these dash-cam videos. It'll scare them straight. I could not believe some of these dash-cam videos. and let me repeat myself they were almost like committing suicide that's how stupid they were you know what they had also a couple of them unbelievably

go through railroad guard rails they were down and they still went through the guard rails in order to get through and they got hit by trains and I'm gather they're dead think about that

instead of waiting how fast does a train go and how how much is a decent moving train? What does it take about a minute to get through 30 seconds? And if it's a little slow, oh, go. You got to sit for three minutes. Oh, my God. You get to the 7-Eleven a little bit late for that big gigantic slurpy, the big gulp cup.

No, we're going to go through the guardrails and kill ourselves. And then the real... You ever go on one of these two-laners and you get behind somebody that's real slow and you get sick and tired of it. And you have every right and you're allowed to pass, but you're supposed to pass carefully. In other words, you kind of drift a little bit to the left and the car's in front of you just to make sure nobody's coming. Now, we used, in college, when I used to go from Miami up to Tampa, there was 60, the little 60, and that's what it was. And you used to get behind somebody who was going 50 miles an hour, 45, and you're allowed to go a lot.

faster. So what you do is you want to pass, but I wouldn't pass unless there was nothing. And you got these videos on the dash cam of people passing where there's oncoming crap. And there's dash cam videos of trucks just barreling into them. All to pass one car to get you to where you're going a little bit faster. Anyway, scare your kid straight, especially in Miami. You know, everywhere there's bad drivers, but I got to tell you. Miami, I-95 from N.B down into Miami beaches like the Monaco Grand Prix. That's all I can tell you.

Anyway, managing risk. That's what we wanted to discuss today. It stood out. I saw this IPO. I thought of Rivian. I figured I tell you. Then I would squeeze in Tommy Tuberville, which takes me to... The Dow was up 269, was up 360 at one time.

Goldman Sachs up 17. That's a big breakout today. Finally, let's see if it sticks. Home Depot with their declining numbers up 10 today. I mean, there's a move of foot with some housing-related stuff, and they better have better earnings going forward. forward. Those two pretty much accounted for 27 times a minute 90 Dow points. But the S&P up 16 was much better. We said the NASDAQ was up 100 and whatever, only up 32. The Sox is up 210, only up 109, but still up 109.

And cool, we're good with that. Just letting you know again, bears are at 2018 lows. A lot of frost, speculation, little high valuation on this, but technically that S&P is still writing up that 21-day moving average and all as well. And until the S&P takes out the 21-day moving average, it doesn't. And normally it's the 50-day that it follows up in a bull market. That's how the S&P has been better than the 50, if the 21-day means you're actually a little bit stronger than the 50-day. And that's because oils have come on a bit. financials, I mean the big banks, now Goldman joins today. Black Rock was up 24.

Black Rock, we bought, stopped out, drops 45 points, back up 45 points in two days. Talk about Jay Powell moving. Got a lot of emails from people on Powell. Do I think he's political? Hell yes. There's two things going on. Election and the debt. They can't keep rates with it.

they are with this debt. Here's the problem. What if inflation is really picking up and then he tries to lower rates and that imports even more inflation and the 10-year yield goes up while he's trying to lower rates? What is he going to have to do? Start printing money again to get interest rates down, the real rates. Remember, there's the free market of real rates and there's him. He's the fake market.

We'll see. All I know is, God bless him. He definitely jack things up in the financials over the last two hours yet. 90 minutes yesterday and a big gap up today. Which takes me to other news, and we're going to defend Trump as much as we can't stand him. And we can't, and we don't want him being president, and we certainly don't want Biden being president. In case you don't know, the attorney general, the Lettisha James, well, she did the thing with his properties and stuff like that and got this judge. Just imagine two people made a decision on this guy's life.

By the way, we're not saying he's guilty or not guilty. But a fine of $450 million is a joke. And everybody in the law world knows the fine is a joke. Everybody knows it's a political hit job. I know very good real estate attorneys to a person. And one of them is a liberal Democrat said, it's a joke. but it's not a joke for Trump. Anyway, you know what the sick thing is now?

We don't doubt he can come up with that type of. He went to a bunch of these companies to try and put up the money from and they won't do it because he's under the gun. She's already making the moves because there's a deadline Monday to seize his properties. This ain't America.

This is sick. People destroying a man. If they wanted to find them, good. This is obscene. It's getting out of hand, ladies and gentlemen. We'll cover this a little bit more tomorrow. We've run out of time. I'll be on with Neil Cavuto tomorrow, noon hour.

Fox Business Network, check it out. Manage your risk. Thanks for joining us. Until tomorrow, have a great evening drive carefully. And when you get home, do like we do. Quite simple. Make sure you hug your family. Make sure you hug your children.

They will feel better. You will feel better. I promise. Peace out, everybody. Stay well, be well. Always a pleasure to be with you. Bye, by all. Good night.

This has been Investors Edge with Gary Cult Bomb on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryK.com. 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. There's zero shape 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. With the Venmo debit card, a taco in one hand, and ordering a ride in the other means you're stacking your rewards. Nice. Get up to 5% cash back with Venmo's on your favorite brands when you pay with your Venmo debit card. From takeout to ride shares, entertainment and more. Pick a bundle with your go-tos and start earning cash back at those brands.

Do more stash, get more cash. Venmo stash bundle terms and exclusions apply. See terms at Venmo.combe.combe slash stash terms. Max $100 cash back per month.