Investor's Edge with Gary Kaltbaum - More Leakage.

Episode Date: June 14, 2022

More Info At: http://garykaltbaum.comMore

At CVS, it matters that we're not just in your community, but that we're part of it. It matters that we're here for you when you need us, day or night, and we want everyone to feel welcomed and rewarded. It matters that CVS is here to fill your prescriptions and here to fill your craving for a tasty and, yeah, healthy snack. At CBS, we're proud to serve your community because we believe where you get your medicine matters. So visit us at CVS.com or just come by your food. store. We can't wait to meet you. Store hours vary by location. Investor's Edge with Gary Coltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Coltbaum. And welcome once again to Investors Edge. I'm Gary Coltbaum,

your host. A thanks of being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It is June 14th, 2022. Hope you're having a good day. As always, we got lots to do lots to cover. We're going to do things a little backwards. By the way, the market wasn't down 800 points today. I just want to let you know. But casino hour was quite interesting. We'll get into that in a little bit.

But as you know, we have brought in a very big way over recent months of our major league worry. You already know about the market. But the economy. and we've been right as rain. And we've been right as rain. Is rain right, by the way? I guess that's a phrase.

Unfortunately, we want to be wrong. We hope we are wrong. We haven't been wrong. And a lot of our worries have been coming to fruition, aside from the markets. So just on the outset, I want to go through it. I'm very worried about employment.

There's a simple reason. If companies are making a lot less money, that means they can only afford less of what they have. I will tell you, and this is expected on some of these names I'm going to give out. But we're really watching this closely now. Redfin, 6% of their workforce going by-bye. As they said, May demand, the month of May, 17% below expectation. Guess what Redfin does?

Residential real estate database and brokerage services. We've been warning you on the housing market. Coinbase, 18% of their global world. force going by-bye, duh, and that's the coins going by-bye. And we told you all this. When Coinbase came public, we told you, remember, we told you the day it came public and was 400-something bucks, we said to you, this thing's going to 20. because they were created for traders to trade bubbles that were going to pop.

And the same with Robin Hood and the like. I will tell you that stitch fix getting rid of people. A personalized shopping online platform, which did very well as a stock during COVID, not so well right now. I mentioned Robin Hood, Carvana. And I must tell you, by the way, they do like $13 billion in revenues, but lose a ton of money the last three quarters. And it gets worse by the quarter. I'm no H&R block, but something's up on their accounting.

Just my ignorant opinion. We'll see if that plays out. I do know others have agreed with it. And in case you don't know, it was $377 in August that closed the $20.87. Today, the major league sell of that stock, based on our roadmap, 320-ish. Crypto.com, obviously. Another one called BlockFi, obviously. All these crypto companies are going to be fire.

people left and right and let me tell you what else is going to happen you do know that a lot of these crypto companies are sponsoring the hell out of sporting events a crypto spent more money coins on the Super Bowl advertising than I think anything else and I believe I'm not sure which arenas or stadiums their names on arenas and stadiums those are going to be gone also as the bubbles have popped and I'm just letting you know We are watching it closely. And my best advice for each and every one of you, I want you to listen carefully. Listen, I want you to listen carefully.

This is some Gary advice, especially if you do not own your company, but you work for a company. Make sure you are so damn good at what you do. make sure you work harder than the next guy make sure you spend more time than the next guy or gal do it with passion do it with vim and vigor make yourself make yourself you're listening carefully as important as important can be indisposable to the business you're at You got that? Number one, you should be doing that anyhow. But in times where things turn in the employment market, I will promise you companies will keep the indisposable.

Just some thoughts on that. Next, I'm going to bring up Federal Express because the stock was up $29 today to $230.30. They announced a quarterly dividend jump of 53%, but that didn't do the trick. What they did was they basically engaged with a company called D.E. Shaw, a FedEx stockholder, and they've had a big dialogue about shareholder value. and the thought process is something's going to happen as far as shareholder value on FedEx. I have no idea what that's going to be. But that's what the market bet on today.

Expect more of that. As stock prices slide, expect more of that. Expect more companies to look over their books. Expect more companies to have some big-time, executive meetings and middle manager meetings. And you know what they're going to be talking about. Exactly what I have been saying. Who's indisposable?

Who is not? I just want you to keep, I'm not trying to scare you. We deal here in reality. And we do not know how a slew of industries will not be cutting headcount based on, paying up for everything being bought but getting cut in everything the dollars are being invested in on asset prices it's a one-two punch so again not to scare you we deal in the real here we deal with reality here and we have studied not only bull and bare markets but we've also studied the

economy, I have news for you. My title is not economist. I run circles around any of the top economists. Remember, all of this, they are now reporting on the top economists. We predicted it two years ago and have been walking you through it like we had today's newspaper two years ago. and those who've been listening for two years know we ain't whistling Dixie. Am I allowed to say whistling Dixie anymore? You know, believe or not, I have to watch everything we say now. It's so insane out there. It really is.

I told you one time I held the door open for a woman at a store, and she cursed me out for holding the door open. What do you think I am? You think I can't take care of myself? FU, FU, FU, FU. And I just said, I was just trying to be nice. And she gave me one more FU and walked away. Up next, that's a true story, by the way.

More. And then the market. This is the one only 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. No big commissions, just a fee on the assets that's managed.

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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, before the Fed speaks tomorrow and does whatever they're doing, excuse me, playing catch-up, I just want to let you know that the one-year yield finished at 3.041 today.

The Fed will be raising rates to 1.5% tomorrow. Still half of the one-year yield. That, by the way, they should be above, and therein lies the problem. The two-year yield today finished at 3.429. The five-year yield finished at 3.596. The 10-year yield 3.483. The 30-year, 3.432. So the 5-year is above the 10-year, which is above the 30-year.

Go look up what it means when short-term rates are paying more than long-term rates. What is it predicting in the economy? I'm going to let you guys look that up. I don't want to spend too much time on him tomorrow. We just want to let you know in plain English that it was another bad day for the bond market again today. The five-year moved up more than a stick. The 10-year more than a stick.

And that's your mortgages. mortgage rates are now above 6%, six. A gargantuan move from off the lows. Mortgage applications have croaked, the opposite of vertical. So there's some things for you. All he will be doing tomorrow,

and I want you to listen carefully because it's going to be misreported, underreported, and they don't have a clue reported. All he's doing is playing catch up to what the market has already done. I've turned on this morning. You know the Today Show on NBC. God bless them.

I think they try to put their best foot forward. They should stay out of economics. They had somebody on there this morning saying, because the Fed is raising rates tomorrow, your mortgages are going to go up. No, they're not. The Fed is. going to go to one and a half the 10 years already 3.483 they're just playing catch up

that's all as we have said to you they are not even on the playing field and one of the reasons the markets are in trouble is the market what have we told you the market is shooting the middle finger back at this man remember what we told you he did he interfered with markets with unimaginable amounts of conjured up out of thin air money to do his bidding for whatever reason. And it created massive bubbles, massive froth, massive speculation, massive leverage, and gargantuan overvaluation. And then inflation. And that's all being rolled back.

And all he's doing is playing catch up tomorrow. He's no hero. And nothing personal. He is very lucky. that I am not in that meeting tomorrow, his presser, asking the questions. He'd probably get up and kick my ass for the questions I would be asking, because his feet would be in the fire, not be put to the fire. He's been that important, plain God, with the biggest markets in the world,

thinking he is God, with no accountability, no oversight, and nobody has said a freaking thing. Now they are. Now all the geniuses are out saying the things we've been telling you for two years. Great, thanks. I can also tell you who won this year's Super Bowl. It was Cincinnati, by the way. The refs stole it from them.

Go back and look, I'm serious. And I'm no fan of either team. They were ripped off. Cincinnati won that game. Phantom call at the end of the game. And we won the bet. I gave you Cincinnati Plus, but still they were ripped off. Go look.

I'm right. So that's going to be tomorrow. All he's going to be doing is playing catch-up. And most of the people in there, those reporters asking questions, want to keep their seats. So they have to play nice, nice. so we're going to get nothing out of that tomorrow. What does the market do off of it tomorrow? I could care less.

Seriously. And I have no clue what the market does tomorrow. All I know is if it bounces and rallies, we'll still be in a bare market for stocks. The main trend, the big picture is still down. If we keep going lower, well, you know the obvious. You need to remember all this. He's no hero.

He's a disaster. And we're the victims. As the one-two punch of just about everything we buy is way up in price, and everything we invest in is heading way down in price. You can't have a worse one-two punch. And it's all brought to you by him and gargantuan moronic policy out of those in pay. power. And by the way, this goes back to Trump also because he was yelling and screaming at Jay Powell about he should be printing money and being at zero percent interest rates.

Believe me, he's no great shakes. So again, that'll be tomorrow. And again, we can rally tomorrow. We can rally big tomorrow. If we rally big tomorrow, it's only because, listen carefully. The Dow, it's now four and a half days since last Wednesday at noon. is down 9%. The S&P, down about, we'll call it about 10.5%. The NASDAQ, about 11.9%. So if we rally, it'll be only because of that.

And that's it. And we continue to loathe that we have to even deal with this. Deal with him. Deal with them. We loathe it. Again, nothing personal. I'm sure he's a nice guy, wonderful dad, husband, father, grandfather if he's got grandkids. We don't care about that. We care about. He's played God with our lives. And now the comeuppance. Up next. A scam. The markets. Whatever else. I'm Gary. This is the one only investment. 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. Volatility is hitting retirement accounts and savings across the country. More Americans are exploring physical gold and silver for added diversification during unpredictable economic periods. Preserve gold offers straightforward education on how precious metals can be included in an IRA. Text IHeart to 50505 for your free wealth protection guide,

and with a qualified purchase, you could receive up to $15,000 in free gold or silver. With the power and endurance of Toyota trucks, you can go to the most incredible places, like this valley, where the echo does different voices. Hello! We know what we're made of, Toyota Trucks. We're listening to. 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 Coltbaum. It comes highly recommended. You're going to feel better if you talk to him. It's day 14 since I tested positive for COVID. I tested positive seven days ago and I tested positive three days ago.

My doctor says to me, don't even test anymore. I'm just letting you know what my doctor says. I have no symptoms whatsoever and nothing. As I told you, the first night was really bad. The next day sucked. I was very tired up until about four days ago, and I woke up and I'm good. Do I have anything going on? I would just say a little tickle in my throat still.

But, you know, we've had, you know, change of weather in here. It's like 100 degrees out. but I have all my strength everything's fine my doctor says you know hey and there's a cough from a tickle in my throat but that's the story just letting you know

I'm told to go live my life and all that and it's so weird just because you know how many people died of the first and second you know part of this COVID thing and you like have COVID like holy crap but then you know oh this this one is nothing

thank God and let's hope that continues, but it's still weird thinking about it. And I do not think I'm going to test again, except I want to go visit my parents this weekend. I'm not so sure I want to visit them if I still have the positive, no matter what, even with no symptoms. And that may be wrong, but, you know, me, your handsome and buffed host, air on the side of caution. So I haven't decided yet. We'll see. So I mentioned this before, but it happened again.

I get an email. Let me give you the email address so you'll know. QuickBooks at Notification.intuit.com. It says, Geek Squad, dear customer, thank you for your subscription. Here is renewal confirmation of your invoice with the number. We have successfully renewed your service. Review your receipt and get started using your product. And it tells you they charge me $329.

$0.99, blah, blah, blah. It's been charged and will show up 24 hours in your bank statement. If you wish to cancel your subscription and claim for your refund, call us at this number. So we know it's a scam. And this idiot who answered the phone didn't even answer the phone Geek Squad. He just said hello. And it sounded like one of these guys from like Thailand, Indonesia, whatever. And you know what I've done with them in the past. You know, I play with them for a while and then I throw him a few choice words. I did a new one today. I just let it go on for a few minutes to the point where he said he wanted to get on my computer. He wanted to go into my computer and take over my computer. And at that point in time, I put my phone next to a big, big,

gigantic speaker and played the loudest, the loudest number. I put my phone next to a big, big, big, gigantic speaker and played the loudest the loudest number Led Zeppelin's immigrant song so the hope is both his eardrums popped

and he can't hear a thing for a few days kids they wanted to take over my computer and God only knows what they do with that and how bad that is so don't let anybody

take over your computer Okay? If you're in temple and church and somebody walks over to and says, Hey, hey, what's up? You know, I'm selling cigarettes in California that I'm buying in Massachusetts and I'm making 200% on it and I'd like to cut you in. It's a scam. You got that?

Amongst a bunch of other things. And I read to you the other day, a couple of billions been lost with crypto scams. and who knows how much more there is going to come out of that. You got that? Just remember, people are nice. They ain't that nice. And I'm not that nice. If I could buy cigarettes in Massachusetts and sell them in California,

make 200% on my money, I'm not cutting you in. You got that? Please remember that. It's really not too hard to figure out. It really isn't. And you do know if you get a call, that says you won the mega millions and they're going to send you 10 million bucks but you first have to send them $7,000 fee via Western Union down at someplace somewhere. You know that's a scam, right?

I told the guy who tried to do it to me, hey, here's what you do. Send me $9.5 million. I want you to keep $500,000. Oh, we can't do that. Okay, we move on. And by the way, I'm not treating you like you're stupid or dumb. You must remember they keep doing these scams because it works on a lot of people. That's all. Today's market wrap. And we'll get into casino hour in a minute. Brought to you by Investment-Dashmodels.com. That's Jim Rohraback, one of the great market timers. No gray areas with the man you're either in or out of the market with his proprietary indicators. Go check it out. Investment dash-models.com. Dow is down 152. S&P 14. NASDAZDA. NASDA up 19, NASDAQ 100 up 23, Sox up 16, transports up 275, but it was really all Federal Express.

And CH Robinson worldwide, rumors of a buyout was up $6. Advanced declines 2 to 1 negative on the New York, 19 to 25 on the NASDAQ, 2,994 new yearly lows on the New York and NASDAQ. think there are any new yearly highs and then oh well i do want to mention we've been saying to you if there's any one area that may be in the bottoming process we're watching these china adr's they're called american depository receipts they just trade like stocks they had a very good day today again after getting trashed because how the market got trashed for two days so keep an eye on them we're not sure and trust is low because you know china in and out of lots of lockdowns and who knows where they're going to start pulling out the mallet again and knocking

these companies over the head again. But they had another good day again today. Keep a watch. But not really much else to tell you from this except to say at like 320 we were down. We were okay all day and then we sank into 320, 330. 30, we were down 350 and 80. And then like in 10 minutes, we were down 60 and NASDAQ up. And then we fell off a little bit at the close.

Just some wicked stuff, but that's normal. And why is it normal? When you get really stretched away from the norm, which just happened in the last four days, you get random wicked action. And not much else to really jump on. but I will tell you some real bad action and some individual names. That's kind of weird.

Procter & Gamble and the Dow goes to New Yearly lows, and that's a consumer staple that's supposed to be recession resistant. The question is, is inflation sticking it to them now? Meaning they're trying to hold down prices, but they can't. And the market knows it, and that means people buy less of, even if it's essential or take their time. So that's interesting. United Health keeps weakening.

Home Depot in lows. Very poor action in those two. Housing-related, yuck. So nothing really redeeming out of today. Again, we'll just repeat, the only thing that may be being put in some sort of a bottoming process, is these China ADR? but that's not for certain.

And we're not counting on it, but we're certainly watching all over it. And remember we told you some of the Chinese educational companies, like symbol EDU, to give you an idea how things crazy, that went from $1.99 down to $8.40. This is one of the China ADRs. We can tell you, in the last two weeks, it's gone from 13 to 21 and up 24% today.

So even this stuff that was attacked like crazy by China, maybe. And just so you know, and what we mean attacked by China, last quarter sales were down 48% year over year. And they lost a bunch. A bunch. Again, trust is low, but we need to report it to you based on what we're seeing. Up next, this, that, and the other thing. This is the one to only investors edge.

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. Volatility is hitting retirement accounts and savings across the country. More Americans are exploring physical gold and silver for added diversification during unpredictable economic period. Preserve gold offers straightforward education on how precious metals can be included in an IRA.

Text, iHeart to 50505 for your free wealth protection guide, and with a qualified purchase, you could receive up to $15,000 in free gold or silver. Online reviews say I'm steep, rocky, and a difficult trail. Next time, I'm going to say, not if you're driving a Toyota truck. We know what we're made of. Toyota trucks. You're listening to. What are we waiting for?

Well, what are you waiting for? One, two, ready, go. Investers Edge with Gary Kulp. And welcome once again to Investors Edge. Thanks for being us today. I have absolutely no clue, zero clue, less than a clue, what the market does tomorrow. Simple as that. last week pretty much before anybody else we went on with neil cavuto and said uh we think it's going to be

three quarters not a half and he said really and now everyone is yelling three quarters now that was us first and we simply said it for a reason yields keep going up and up every freaking day it's stunning Do you know that the 10-year yield on May 27th was 2.7? 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, it's gone to 3.483. From, get this, Friday's low, 2.994 to 3.483. you think the market knows he's behind the curve? And the worry is once he gets done tomorrow, nothing has changed. He's just playing catch-up.

The most important financial man on earth doesn't have a clue. My first question to him tomorrow, and I'd have to ask it in a respectful way, the disrespectful way is, do you even know what the hell is going on out there? Do you even know that bubbles have been popped in left and right? That there's a bunch of stuff that bubbled up down 90%. Do you even know that because of the easy money, they came out ridiculously priced IPOs like a rivet that is down like 80% from the highs? That at IPO price the same day was trading an almost the same market cap as GM and Ford,

even though they had no sales? while GM in 4 had 260 billion in sales? Do you even know that the 10-year yield is at 3.5% and you're still at 1.5, but you're called an inflation fighter? Aren't you an inflation enabler? When are you going to get your acting gear? By the way, those are all valid and pertinent questions of the most important financial man on earth. But no one's going to do that because they want.

to keep their seats. There are no Peter Duceys that hold this administration's feet to the fire. Or Jackie Heinrich from Fox also that hold this administration's feet to the fire. There's none of that in the business world. They'll kiss his ass tomorrow. Unfortunately, a man that has done so much damage. It's beyond belief and potentially gets a lot worse. Hope I'm wrong. Well, that's for Tamar. Again, I have absolutely no clue. If we rally, I think it would be normal because again, let me repeat at the close today in four and a half days, the NASDAQ down 11.9% did S&P down 10.5%? The Dow, about nine. In four and a half days. And by the way, that's off a lower high. Don't you love me with all this good news? But I did give you good advice earlier,

didn't I? Now, once we get past him, then we got to wait another six weeks for him. And therein lies the problem. Imagine you have heart palpitations and you call an ambulance. And they get there 90 minutes later. This is Jay Powell, except he gets there two days later. And we've say this again with no joy. We're dealing with reality here. Other thoughts today. Oil prices at least came down again, but we think probably because of the wrong reasons. The fact of the matter is I think the market's picking up on the inflation-causing demand problem. So maybe oil comes out, so maybe better at the pump, but not a good sign we'll see. But listen, I know what you guys are paying at the pump. I'm a driver. Oil...

has dropped, I think, from 121 to 116, will take anything. But of course, as you know, at the gas stations, slow to lower rates, prices, quick to raise prices. And why is that? It's not that they're bad people. It's because they have all that inventory over there that has to be taken out before new inventory comes in. It's as simple as that. And just remember Those people that own the gas stations, a lot of them are mom and pop.

They own maybe one or two. They make book gas on gas. They make it all on water and Red Bull and all that other stuff inside the joint. Remember that. In spite of the lies from this administration on that. Just so, you know, I don't know if it was Buttigieg or somebody else, he started blaming the mom and pops. that ended within two days because somebody got to them and say,

shut the hell up, you don't know what you're talking about. Unfortunately, nobody told them to shut the hell up about leaving oil companies alone, who lost billions in previous years, billions of dollars in previous years. But now they're the antichrist. It's the Putin price hike, ladies and gentlemen. Yay. Gold, another rough day after yesterday. The dollar, again, strong because we're the best of the worst,

as Europe makes us look like we know what the hell we're doing. Anyway, we'll be back tomorrow. I'll be on 2 p.m. Fox Business with Charles Payne as the news come out, yay. And until the same time tomorrow, you have a great evening. Drive carefully. when you get home do like we do, well, once we're over this COVID, make sure you hug your family, hug your children, they will feel better, you will feel better. I promise.

Have a great one, everybody. Same time tomorrow for this show. Take care. Have a good night. Peace out. 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. Online reviews say I'm steep, rocky, and a difficult trail. Next time I'm going to say, not if you're driving a Toyota truck. We know what we're made of, Toyota Trucks. This message is brought to you by the Capital One Venture X card. Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect. Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide.

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