Investor's Edge with Gary Kaltbaum - Microsoft Day!

Episode Date: July 18, 2023

garyK.com or https://garykaltbaum.com/

Hey, it's Ryan Sechrest for Albertsons and Safeway. It's stock up 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 Cultbaum. 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 of being with us today. Glad you here, ladies and gentlemen, happy that you are listening. July 18, 2000, 23. Hope you having a good day. I want to thank everybody. You know, I must tell you that in case you don't know, when it comes to doing radio or doing TV, the amount of emails one gets or just contacts, people are actually taking time out of their day to go to a computer or their phone to email.

That's an act of doing something that really does take a lot. And when we told you, we're still getting emails on people's backs right now off of my back. condition. So yesterday I talked about my parents. One's going to be 92, the other 90. I cannot begin to, I haven't even gotten through how many emails I got in the last day from all of you that have gone through the same thing. And I don't mean to use the words going through. It is an honor to do the best we can to take care of our elderly parents in their latter years. As I've stated, I've never felt more important in my life. I've had kids married, but taking care or doing the best I can.

I live in Florida, they're in New Jersey, my brother's up there, but taken care and doing the best we can for them. Man, oh, man. And again, I've received, I mean, I can't begin to tell you how many emails I got from all of you basically explaining your circumstances and what you've gone through and commiserating with me on that. So just right out of the box, I just wanted to mention thank you. Appreciative beyond the beyond. And we'll keep you up to date as we move forward.

And by the way, the back condition is still there. The good news is the episodes happen every now and then, but it's still there. And it's a pain in the you know what. But I'm stretching like a madman, working it out, doing the best we can. And just so you know, it's a spasm. And just one place on my body. I can't get rid of. You would think they'd be able to just shoot it down.

Goodbye. But no. I can walk. I can stand. I can lay down. I can sit certain ways. but I can't sit other ways because when I get up, boom.

But again, the good news is it's been holding up pretty well as of late. I tried to do a slow swing, like a golf swing. Forget about it. That's the end of my golf career for right now as much as I was playing crappy anyhow beforehand. All right, lots to cover today.

A lot of jello moving on the plate. A lot of good action. A lot of new areas. We'll cover it in the time allotted. But first, if you do not get this show in your city, this radio show, we'll post it at garyk.com. We'll also post it at our Twitter feed. You can follow us on Twitter. Just go, and by the way, I got to say this.

Twitter is really not as good as it was. First, people are, maybe they're putting up Gary call, call, bomb, we were changing a letter, and used to be when you sent something to Twitter, hey, somebody's impersonating me, they were down in a day. Now you've got to ask 15 times. They're understaffed. I can tell that people I follow, things aren't, it's just not as good. Not as good at all, but we try.

You can email me, it is always just be nice. It's pretty simple. All you've got to do is be nice. I'm nice. Seriously. I get along with every. body no really I do and we can disagree we can agree to disagree we can vehemently disagree but let's just respect it all versus some of the looks I got in an airport

this weekend first off I get a lot of people coming up I see on Fox I love you and then you get these looks because you're on Fox from people that want to kick you in the you know what you can tell I'm used to it All right. Do I do the markets or do I do the news first because there's news? Yeah, let's do news. Let's get it out of the way. In case you don't know, President Trump is going to be arrested again. No, really. He's going to be indicted for whatever. I don't know what the indictment is, but it's going to have to do with January 6th.

It's going to happen in the next week. He's already been notified, not of the arrest, of the investigation, which means you're about a week away. They're asking for him to comment. And within a week or so, he will be arrested again. And the interesting thing is, is there anybody else going to be arrested? Or did people drop dime on him? So just let you know whether you love him, hate him, he's going to be arrested again. He's going to have something else to fight.

I'm not even, I'm not taking a stance. I'm just reporting to you the news. and wow, that's all I can tell you. The leading candidate for the Republican presidential nomination, and frankly the chalk by far because the Santas is just the second worst candidate I've ever seen, the Santos. And I don't even know who the first is. I'm leaving that open for somebody to be worse.

It's done everything wrong. That's all I can tell you. Everything wrong. But there's still plenty of time and we'll see how it goes. But I digress. The leading candidate for the Republican presidential nomination is going to be arrested again. How many is that now? Next.

Just want to get all this stuff out early. If you want to know about the media and how bad they are, you know, San Francisco, the district is Nancy Pelosi's. They don't even mention her by name. Anyway, Walgreens stores now in San Francisco are chaining their freezers. They're chaining them up. That's how bad it's got. Because people have been coming in and stealing pizza and ice cream 20 times a day.

And another one completely boarded up its windows. And other stores, are you ready? you cannot you are being prevented of coming in you have to be let in first not kidding this is Pelosi's district and nobody even approaches her to ask her what are you doing about your district that's how powerful this woman is that's how scared the media is of this corrupt woman who's the greatest trader of all time on stocks that we would go to jail for what she did. And by the way, I'm not giving you information from the newspapers and video. I have people that I know that live in the area.

They are stunned that nothing is getting done to fix it. And it's of note, they won't even go out at night in areas of San Francisco. And I guess you can say that of a lot of cities. But next, remember we told you that Joe Biden is going to do an end around on the Supreme Court and handing out our taxpayer dollars for student loan forgiveness? Well, he did one for $39 billion in the last week. And without even spending any time on exactly what he did, he's given us all the middle finger. And as I've stated to you, they've perfected the fact that they know.

that nobody's gone into your bank account to take money out of it to forgive loans of others. So you don't think it directly affects you. Anyway, the, let's see, the Penn Wharton budget model came out and says that it's going to be $475 billion over 10 years of forgiveness, which is debt, our debt. But don't worry, they're not going to take any money out of your, wallet and they perfected this you know what they have perfected is is that as so if we go to 40 trillion of debt nobody's going to care hey we've already gone to 33 trillion nobody's going to care oh we're going to go to 50 trillion nobody's going to care and they know they're either going to be dead or

retired when it all blows up or if they're still around they just blame the other side the other side blames the other side. And we end up being the victims. But don't worry, the market's going up right now. So I just want to let you know, another big, fat, gigantic, massive lie out of this administration is the cost of what they're doing. Very tough to take the championship belt away from the last president on lying. But they're there. Up next. We'll finish with the news, then the markets, and whatever else. 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. Hello, hello, I'm Malcolm Gladwell, host of Smart Talks with IBM. I recently spoke with IBM's new director of research, Jake Mbata. 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 it 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. Hey, it's Ryan Seacrest for Albertsons and Safeway. It's stockup savings time now through March 31.

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-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. 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 cult bomb it doesn't get better than this

and welcome once again to investors edge thanks for being with us today let me finish up there and again by the way Trump received a letter telling him he's the target and basically that is the thing that basically states

you're toast and what it's for we don't know it's January 6th that they're going, by the way, they're still Georgia. That's going on too. And again, we're not taken aside with just reporting the news. What else do I want to mention to you? Ford. Ford? Yeah, I just want to mention it to you.

They have this thing called the F-150 Lightning. It's an electric truck that is supposed to be as popular. as popular can be, they're lowering prices $10,000. And just remember, it's not because Ford is generous and nice. It's because they have to. What they have found is less demand than they expected, so they have to attract. That same thing with the house.

If you're trying to sell a house and it doesn't sell and you need to sell, you need to lower the price until it hits a point where somebody comes in to actually buy it. So Ford's doing that. We're just letting you know. massive competition on electric vehicles going forward as it's being forced upon us whether we want it or not. No matter what the cost is, the good news is, eventually there's going to be electric vehicles that are 30,000. Yeah, I guess there's some right now. But the question's going to be, And just so you know, they haven't ironed this out yet charging stations, the materials for all this.

Where are we going to get all this stuff from the ground? You know, China's the one that produces a lot of this stuff. And China's like laughing there. You know what's off right now because we may have to go to them for all this. So who knows? We'll see. What can I tell you? And lastly in the news, you know this, what's this one?

name, Representative Jayapal, whoever she is. Pramila Jayapal. She's just another Jew hater, Israel hater, anti-Semitic piece of crap, that came out and said that Israel is racist. Yeah, that's what it is. She apologized, and of course it's a fake apology, she was forced. to apologize. Just want to let you know, because I know what you hear, and let me just tell you, this is interesting. Young people are being taught to think Israel is this racist country. They're using the word apartheid. I just want to let you know, I've been there plenty.

Just want to let you know that. Jews, Christians, Muslims, Arabs, gays, every race, creed, color, height, weight, you name it. You know what they do every day? They get up and you know what they do? They work together. They play together. They hang together. How do I know?

Because I've been there. And for the most part, they're not extremists. yet right across the line if you're gay oh you're screwed but they defend those people it's quite interesting to watch the bull crap that comes out and some of these New York Times writers

it's amazing they're blasting Israel and AP their headlines when Israel has to go in there and take out people Israel attacks, not Israel defends, but attacks. The first time I was in Israel, six times we went into bomb shelters because just over our heads was missiles. Imagine. Wherever you live right now, whether it's Cincinnati, Chicago, whatever, you go outside and there's a missile over your head. That if it lands on you, you die.

That was six times in ten days. The seventh time I was in a restaurant in Tel Aviv on the water and the sirens went off. Every tourist, you can tell their tourists, ran into the bomb shelter under the kitchen. All the Israelis sat at their tables. We decided to sit at our tables. One time we were in the Carmel Market, the sirens went off. We went into the parking lot. Sunny day.

Over my head, the Iron Dome took out a missile. out a missile. Imagine, middle of the day, you're at the Carmel Market where you buy, you know, you eat, you buy things, and somebody's lobbing a missile over your head. But you're attacking them. So we just want to know, I have to bring this up. Why? Because, hey, you know, because I want to. It's my show. We just want to air the facts out with you. Israel's a sliver of land. Arab countries are like 99% there, and they're about the 1%, yet they have too much land. That's what they're being told.

Go look at a map. Go see how big Israel is. Just got to bring that up. And unfortunately, there's a few of these idiots in Washington. And a lot of Democrats refused the apology. There was a condemnation or something like that. 140 Democrats refused to condemn. You know why?

all a bunch of wimps, both sides, but especially on this. Anyway, now we're done. Rules of bull and bare markets. In bull markets, bad news is good news, good news is great news. In bare markets, good news is bad news and bad news is terrible news. We're talking about reactions. Today, the NASDAQ wasn't acting so great. Early on.

It was all the stuff. day. What do you mean by stuff? Oh, the transports, the oils, financials will get to that in a minute, economically sensitive. And it was early on a little rough day. And then Microsoft makes an announcement. It's interesting. They made it like a week before earnings. They make an announcement about, oh, guess what? Artificial intelligence. Okay. And whatever. The stock went from being down to up 20. Now, in case you don't know, Microsoft is a mega cap stock. I believe it's $2.7 trillion in market cap. I believe Microsoft, let me just put this up real quick if you don't mind. Microsoft shares outstanding, $7.4 billion. So every point it goes up is $7.4 billion.

It went up like 22 points from the lows. Now, it pulled back at the end of the day, but it initially, 22 points. It was $160 billion a market cap. Microsoft went up on an announcement of artificial intelligence. They have $200 billion in sales. What do we tell you about bullish phases? Good news is great news or perceived good news. And what it did was it lifted up. That's music already. Up next, we'll continue. I'm Gary. This is the one only investors end. Hello, hello, I'm Malcolm Gladwell, host of Smart Talks with IBM. I recently spoke with IBM's new director of research, Jake Embatta. 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 it will mature, right? 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. 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 stomach ache every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just, I 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 IHeartRadio.

Listen now wherever you get your podcasts. 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, or aida, 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. 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, where was I? So Microsoft Live. It's did. NVIDI was down $6.00 was down, finished up $10.00. Adobe was down, finished up $10. And go on. You get my point. And you had pullbacks on a lot of the growth arena and tech. A lot of them finished up after being down. That's how bullish phases. But what I really want to talk about is the financials today. Good reactions. That's all I can tell you. I'm going to describe them for you. Bank America. broke above $30 today, finished at $3070, volume was 100% higher than normal.

$30 contained its move in the last few days. It contained its move in June. Hit a high of almost 31 in April, and let's see if it gets through. Bottoming process in Bank America. Morgan Stanley, their earnings were down 14%, but Morgan Stanley on 193% better than average volume. It was up 6.5%. broke back above, I'll call it 8965, and nearing the high of April, a possible bottoming

process for that. Schwab, they reported, earnings were down 23% year over year. They actually guided not as good. The stock was up 12.5% broke above the $60 range that contained it, going all the way back to March. On a gap. On a 23% drop in earnings. What do we tell you? In bare markets, good news is bad news and bad news is terrible news. In good markets, bad news is good news and good news is great news.

So that's Charles Schwab. A PNC bank reported a 2% drop in earnings. was down three or four bucks pre-market, ended up three bucks by the close of the day. Why? In bare markets, in bearish phases, one thing, in bullish phases, another thing. Goldman Sachs reports tomorrow, the KRE, the Regional Bank Exchange Traded Fund,

broke above the highs of early June and early April today. Now, just because you break above these ranges does not mean they stick. You know, you can break above and then tuck your head in like a frightened turtle two days later. We're just letting you know, reporting to you, the KRE, the Regional Bank Index, broke above. Keep in mind that's been absolutely mutilated, absolutely trashed from the highs in February off the Silicon Valley Bank, which amazingly looks like it may have been that. What was it? First Republic?

Only two went by the wayside. We were asked a couple of times, and you know what I would always say? My best guess is probably more, but there hasn't been. So just letting you know about that, the XLF, which is the big financials, well, it broke above 34 a few days ago. It's now 3499 and getting better. As you know, the number one name, J.P. Morgan, that's in New High Ground. So the financials.

And then something happened out of the get-go today, which pre-market was not much going on. And then all of a sudden I see Old Dominion freight, trucker, up like $18 per market. Simple S-A-I-A, up like $18 per market. Well, they finished up only, if I can find them, 10 and 11. But they had the truckers gaping up today. FedEx, a delivery guy, gap up today. So out of nowhere, pre-market, I saw nothing.

a sudden, boom, anything that moved with four wheels gaping up today. Transports are up 317. The rails were up, the truckers were up is just one of those days. So today's market wrap brought to you by Investment-Dashmodels.com. That's Jim Moraback, one of the great market timers. No gray areas of the man you're either in or out of the market with his proprietary indicators. Go check it out. Investment-mottles.com down 366.

And how is it up 366? well you ready what have we told you about the Dow the most important names of the highest price names because it's price weighted so you can have Walgreens go up a hundred percent it's in the Dow by the way it would be about 200 Dow points if it went up a hundred percent you got that you got that United Health going up going up 6% would be that same 200 down points, which we think is nuts. But that's the story.

United Health, on their earnings report, and the stock has been pitiful, the whole group pitiful, the stock closed before earnings at 447, it closed at 500 today. Three days. That 53 points is what about 12%. 12%, I think. 53 times 6.78, 359 down points on United Health in the last three days, on a 12% move. If Walgreens went up 12% tomorrow, it'd be 20 down points.

Not even. So that had a good move today. We mentioned Microsoft had a good move today. Finished up 13 after Bing up, I think, 21. And Goldman Sachs, which reports tomorrow with the 5%. financials up 10 today. That's 67 Dow points. So that was today.

Oh, Caterpillar was up six also with that whole arena. S&P up 32, NASDAQ 108, NASDAQ 100, 128. We mentioned the transports. Advanced declines were just fine, up down volume, just fine, new highs picked up. Oils had a good day again today. Remember, it's been oil services that are strong. The Oil Explorers and the Big Oil, blah, but they were even up today all. Also, you can measure them by the X-O-P for the Explorers, the X-L-E for the big oil.

And I'll tell you, like the weakest name is Exxon. That is so damn weak for oil. So again, oil services, some drillers, things like that. That's doing the trick. And as I just look over the Delta, the airline pulled back to the 21-day and bounced off of it today. So the airlines bounced, the cruise lines bounced a little bit. We mentioned the financials, of course. That'll include some of the insurance.

But by the way, insurance, we've been studying a little bit. Insurance stock have problems. I don't know if you know this, but Florida, I mean, they're kind of like all the home insurance places are leaving. The insurance companies are economically sensitive at a good. We mentioned Caterpillar up six, deer up 10, make that 11. So, good day. It was weaker, mostly NASDAQ today, drifted back up by the end of the day off of Microsoft. We'll see what tomorrow brings.

Tomorrow after the close, Netflix. And by the way, Netflix today was up 26 bucks. No, really. Netflix is up 26 bucks before earnings. Did anybody catch wind and is somebody going to jail? By the way, IBM after the close tomorrow. Tesla after the close. United Airlines.

Goldman Sachs. Oh, Goldman Sachs is before the open. There's a bunch. Looking forward to it. But just better. I don't have much of the way in the complaints. And you know I love complaining. That's our story of the day.

We'll see what tomorrow brings. And don't ask. You know, we get asked, how is this happening? What's going on here? valuations are too high the Fed's raising rates I don't know we just followed the bouncing ball that's all we just followed the bouncing ball and if you would have told me six months ago I would have laughed at you if you had told me six months ago the Fed would be going to five and three quarters I would have said no shot

simple as that that's why we pay attention to the market and where it stops we don't know but all we can tell you the talk of recession and depression? No chance. Not yet. Market smarter than all of us. Up next. This, that, and the other thing, and whatever else. And then I have physical therapy, yay. This is the one to only investors' edge. Hello, I'm Malcolm Gladwell, host of Smart Talks with IBM. I recently spoke with IBM's new director of research, Jake Embatta. 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 it will mature. Right? My cell phone is a mature technology at this point. How far are we from that point with Conton? 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. 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 ache 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. 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. Hey, it's Ryan Sechrest 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. armor. Orahida, 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. You're listening to... What are we waiting for? Well, what are you waiting for? One, two, ready, go. Action! Gary Culper. And welcome once again to Investors Edge. Thanks for being with us today. Hope you having a good day.

Good golf weekend. British Open coming up. I wasn't able to make Wimbledon. If my back was better, I'd be going for the, well, and my parents. I would love to, I've never been to a British Open. I think it's at Royal Liverpool this year. I played the course. It was 40 mile an hour wins.

I didn't even want to tell you what I scored. It was not a good day, but I had a blast. In case you don't know. playing golf in Scotland and Ireland and England. There are days where it's just impossible, and you just love it. I once played Kingsbarn in Scotland. Not making this up in 18 holes. We had 45 degree weather, 68 degree weather.

Hail, sun, no wind, 40-mile-an-hour crosswinds, all in 18 holes. That's what happens to the weather there. at Turnberry We had the worst Downpour and rain and wind ever We played it And I birdied the Molokin Tire

In 40 mile an hour winds And I mean a I can't even begin to tell you how bad the rain was It was the greatest If you ever have a chance And you're a golfer You got to do it and enjoy the weather.

It's insane. Just bring you reindeer. It is so important more than ever. When the market was topping out in 21, all the news was good. Bubbles abounded and everything topped out. And we were on top of it. All we've been hearing, recession, depression, inflation. Well, we told you last June inflation had topped.

Why? They stopped printing money. But here's the other part. Valuation. You can actually put a value on the S&P 500. You add up the earnings and divide. And you come up with a price earnings multiple. And you know what the average price earnings multiple has been for the S&P 500 over 10 years, 20 years, 30 years, 50 years. And you also can look backwards on lower interest rate environment or a higher interest rate environment. or money printing environment or non-money printing environment, all kinds. And I must tell you, if I was to add up earnings, three months ago, I was told, I'm just telling you what I was told by somebody that earnings, even if they were strong, we'd be at a 20 times earnings multiple for the S&P 500 when the average is 15. way this was about 700 that make it 600 S&P points ago maybe even more and I looked at them and I said you're right if those numbers came in and I'm thinking man this market is this S&P would be worth 3,000 well we closed at 4,500 and 54 today so how

could that be the other part of the equation is we know interest rates have been flattening out the 10 year, but we know the Fed is still tightening. Wait a minute, that's not good. They've already said they're going to raise rates again. How's the market going up? Come on. That can't be. Well, what if earnings are going to surprise?

I'm not talking about a surprise where expectations for something or a dollar and they come in a dollar five. What if they come in a dollar 20? and I'm using it as a whole. Therein lies the questions. Because the fundamental side of me, the calculator side of me says, if earnings don't rebound, we're going to be stuck with 20 times earnings.

And there be a point where the market wakes up to that. And if, God forbid, earnings go down, even worse. when does the market wake up to that what's my answer to all this i care but i don't why because at any given point in time it is the market that decides all this and we've seen insane times we've seen the bubbles and the game stops and the marijuana stocks all kinds of craziness So you never know at any given point in time, all you can do is watch the market. And as we tell you here, we have some simple rules. When wrong, be wrong fast, be wrong small.

Don't let a good gain turn into a loss. Try to. Notice I say try to. Let your winners run. That's the hardest part. We, full disclosure here, I've said it a few times. Couple of names, man, we let go too early. And what do we mean by that?

Well, if something breaks and then turns back up, we don't sweat so much. But if something didn't break and we sold it, what mean by break? You know, levels. Did it a couple of times. Made good money. Would have made more. So that's the other part. And that's what keeps us in decent stead.

Not perfect, but in decent stead. And as I tell our peeps all the time, when we're all the time, When we're on to things that are working, just riding the trend until it's not. That's it. Just riding the trend. Those are the rules. Everything else. Noise.

That all said, you have a great evening drive carefully. When you get home, do like we do. It's quite simple. Make sure you hug your family. Make sure you hug your children. They will feel better. You will feel better. I promise TV tomorrow.

I'm not sure. I know I'm on sometime, but we will be back on radio. Have a great evening, everybody. Same time. Peace out. Bye-bye. 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.

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