Investor's Edge with Gary Kaltbaum - No Complaints

Episode Date: December 1, 2022

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

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

A thanks for being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It is December 1st, 2022. And as always, we're here to talk seriously with a little comedy injected every now and then on you and everything that affects. you and your life and the economy and your jobs and your money and everything else in between we do without any agenda or without any ulterior motive with no bias and we have things to cover today I actually yesterday and today watch two interviews

with this creep this sociopath and if you don't know what a sociopath is go look up the word. From this FTX, this crypto company that is out of business where this creep says he was worth $30 billion and now he's got $100 grand. And here's the shame of it. Here's the damn shame of it. I didn't do the interviews. The first one is with somebody by the name of Andrew Ross Sarkin. Never met him. Don't know it. Nothing personal. The interview should be based on a prosecutor asking the accused on the stand. And there was a little bit of that, but not nearly enough. And then you had George Stephanopoulos on ABC.

I watched that one. And I'm sorry, that was journalistic malpractice. Oh, whiz, whoa, what, oh, come, well. No, no, no. Don't you think, don't you know, don't you this, don't you that? You see, why are we telling you this? Just going forward to protect you. Going forward for you to recognize.

Going forward to not fall into any traps of sociopaths. That amazingly, this man was able to convince people to give them billions. Billions. Not thousands, not hundred thousands, not millions, not hundreds of millions, billions. Billions. And if you just watch five minutes of them, you'd think, I wouldn't give this guy a dime. So here's what would have been my interview. And this would, what should have been the interview.

Where's the money? Huh? Where's the money? Huh? Where's the freaking money? What money? Where is the customer's money? You see, when you're at a bank or at your firm, they give you money and it's housed in an account.

And being housed in account, it's supposed to be not being able to be touched. Where is the money? No. You know what they asked? did you co-mingle, which means the movement of money, but that's not a direct. Where's the money? When he turns into Ralph Cramden and does the humba, a hum, a humma, the next question is, and it's simple.

If there's no money left, where's the money? That's the next question. You said you're worth $30 billion at the highs. let's say it's 20 billion. Where is that money? Where is your customer's money? Well, you know, and we have this Alameda trading and what, what? Next, your girlfriend says you move the money into Alameda trading to cover big losses that you took.

Is she lying? Simple questions, direct questions. And if he starts with the runaround, I'd shut them up. Let me ask again, is she lying? Did you physically move the money via wire, via movement, via anything? And then if I'd have to throw an F bomb in there, where is the F bomb money? Where is your customer's money?

You know, they injected a question. Here's a question from somebody who lost $2 million. You know what kind of question you got to ask then? you just destroyed somebody's life. All his life savings is gone. They'll never get it back. Will you meet with that person in a room with no security? And will you tell him what happened to the money?

Now, how about that for an interview? You know, life is pretty simple. It's pretty simple. Anyway, we won't call it journalistic malpractice. We'll just call them journalists. They don't know what the hell they're doing. They don't know what the hell they're asking. And they play too much nice, nice.

This is a thieving sociopath that destroyed lives. And again, what the lesson is here, ladies and gentlemen, for each and every one of you that I try to do on a daily basis and will address a nasty email from somebody who doesn't get it. This creep was able to attract billions from people that are a lot richer and a lot smarter than me. I'm not talking about the athletes and the actors and actresses. Screw them. They're just, you know, give me money and I'll advertise you.

Some really smart people fell into it for hundreds of millions of dollars. Which says if these geniuses that are ten times smart, than me fell into it. What about us? You must take lessons away from this. It is an absolute must. You know when we talked about, we talk about here how we're stunned about certain things? We're stunned. Just listening to this guy for five minutes, looking at his mannerisms, what he says the way he speaks, I don't understand how anybody gave this guy a dime.

And the two journalists didn't specifically stick it right in his face. Where's the money? And that was that. Next thing. Kanye West said today that he likes Adolf Hitler, that he's misunderstood. He says he likes the clothes that. that he wears and that he did not kill six million Jews.

This is Kanye West. Why do I bring this up? My sons, I believe at least one of them, owns his sneakers. I will be asking them to burn those sneakers. Interesting that he was interviewed by Alex Jones, another creep. I don't know where these people come from. I don't know what the hell is going on here, but we're going to fight the good fight here. Up next.

Nasty email time and then the markets. Big time markets today. I'm Gary. 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.

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So, as we have told you, we hardly get any nasty emails anymore. Hardly ever. And I think that's because people get us here. That we work hard. We put in the effort. We put in the time. We're straight to the point. We have no bias.

And we are in this, not just for you, but for us. So we got an email from somebody who used to. to send us nothing but nasty emails. And I would answer back charmingly. And out of nowhere, I think this is a few years, I don't think I've gotten from this person in years, but I got this. And I thought it was appropriate for me to read it to you because he actually brings up some things that in case you don't know, us, we're going to reintroduce ourselves.

And of course, I emailed them back very sarcastically charming. and again, nothing personal. We won't mention his name. And this is actually he gives us his name. And of course, we will never give out names like that. Usually nasty emails have fake email addresses. So it starts like this. W the F.

Now you know what that means, right? Blank the blank. Are you always selling negativity on the markets, the Fed, government, etc.? The answer is, no, we are not always. because when the markets are ripe and there are sectors that are good or if the whole market's good, we tell you so. During the bare market, we told you oils. We told you the dollar. So no, we're not always negative.

On the Fed and the government, we're always negative. Why? Well, 31 trillion of debt. Let me explain what that is. That's $31 trillion they have spent over and above what they were supposed to. And in case you don't know, many moons ago, they used to fight over adding debt. And they supersized it starting late in the Clinton, but really it started under Bush. You know, the compassionate conservative Bush.

And then Obama took the championship belt from him. And then Trump took the championship belt from Obama. and now this Marxist is really rammed at home. And of course, the central bank that distorted every price, every yield, screwed every saver, created the inflation, enabled the debt and deficits, created the worst wealth inequality in the history of time, caused the bubbles that have all crashed and have destroyed wealth.

So we have nothing good to say about them. So they're right on that part. But then he says, you are a miserable soul. Even though you seem to have a life with no reason to be that way, well, first off, I am not a miserable soul. Anybody who knows me knows I love life and I enjoy life to the fullest. And I treat everyone with respect. I take phone calls directly from people. And they're always surprised by it.

I am philanthropic. I give away. I'm the biggest tipper on Earth. December 13th. We're doing another. Sponsored by the Colbaum family for 3 to 400 kids from the Boys and Girls Clubs of Central Florida. This is like number 18. Meals that evening.

It was supposed to be near Thanksgiving, but we got hit by the hurricane. Miserable Soul. I'm going to suggest that's the opposite. Next. If I listen to you all the time, I would always be afraid to be in any stock market well, then you're not listening well. Because recently October 13th, we said we think a good low was put in. October 21st, we said it confirmed the low. We said November 10th was a very important day that goes forward.

And then obviously yesterday. And we talked about and we still talk about what's working and what is not working. Then something weird. Do you realize how so many stocks from Netflix to Alabama have gone up over the past two months? Yeah, we do. Mutual funds and ETFs almost back to even or plus. Well, that's not true. Mutual funds have come back, but I know a lot that are still down 30 or 40.

All you ever talk about is a stock went up 25%, but is down 75%. You're damn straight because that's the lesson of knowing when things are in a major downtrend. And if something drops 80% rallies 20%, God bless you if you caught it. Guess what? It's still down 76%. Those are tradable opportunities that you never seem to talk about. That's a lie. We talk about them all the time. In fact, we've talked about the counter trend rallies every time we've had counter trend rallies. And we've been specific. You talk about Bitcoin was at 67,000, now at 16,000.

thousand well it's now 19,000 two I'll give you a cookie we'll go buy some honestly your show has crap to do with investing he uses the other word really because that's really what we only do here it is more of a psychological escape for a man who probably has not been let me use the word I can't say that who has not been blanked in 10 years well that's not true either. Stop with the effing negativity and stop with all your personal BS. Not many give a blank about your son football team's trips. Well, I got news for you. I get more emails on my music, my football teams, my trips. Do you know I get dozens and dozens of emails from people asking me my recommendation on trips? You're like the little kid, and by the way, you need to spell little L-I-T-T-L-E, not L-I-T-E-L.

You're like the little kid who never got any attention growing up so effing ridiculous. Isn't that a great email? Somebody actually took the time to send that to me. Anyway, to this email, er, we appreciate that. Very charming, constructive criticism. Keep listening. We'll keep putting our best foot forward. Have a great take.

And by the way, if you'd like to donate to the boys and girls clubs of central Florida and help out go to bgccf.org and give a little donation my friend fair enough anyway that is our nasty email today pretty much none of it made any sense except we are completely negative on our government and our central bank and frankly they've earned it and i have absolutely nothing good to say about any of them not a thing not a anything either side of the aisle. And they've proved it. They proved it every day of the week, every week of the year, every year of the decade. Do you know they have spent since 2000 federal spending, $22,000 about $80 trillion, federally, not state and local, 80 trillion that's telling us they need money for infrastructure

to fight poverty and homelessness. 80 trillion. I got a question. Just like I would ask the guy from FTX, where's the money? Thanks for the email. Up next, full markets. Yes, we do markets. I swear. This is the one only investors end. 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 urn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet?

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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 world, The Capital One Venture X card. What's in your wallet? Terms apply. Lounge Access is subject to change.

See Capital One.com for details. You're listening to. America is talking. Investors Edge. He's got to be pleased with that. The crowd is just on his feet here. He's a Cinderella boy. With Gary Colbomb.

It comes highly recommended. You're going to feel better if you talk to. And welcome once again to Investors Edge. Thanks for being with us today. and if you'd like to email me at any time GaryK.com or GCallbom at callbomb.net, we take all emails. Just be nice. We're nice. If I had friends, they would tell you.

By the way. In one minute, we'll just do all markets, and there's a bunch to talk about. Do you see some of the reactions of some of these people in the World Cup when their team lost? wow rioting and beating the crap out of people what's going on i mean i guess i shouldn't say this out loud because it's just this game and you know me i'm insane over my giants over my mets i used to be insane over my nicks but they they until dolin sells the team ain't nothing happening there I don't beat anybody up when they lose. There's rioting going on, I think it is in Belgium.

But did you see when Iran lost to the U.S., how the U.S. consoled the Iranian players? That's what it should be about. Great sportsmanship, playing as hard as you can to win, but knowing you're not going to win all the time. Unbelievable. People are going insane. And I know how big soccer is over yonder. It never really hit big here in the U.S.

I remember I used to go to Fort Lauderdale Stryker games in my youth, and it was big for a while. Anyway, the market wrap. Yeah, we've got to get to that. It's brought to you by Investment-Models.com. That's Jim Warback, one of the great market timers. No gray areas with the man you're either in or out of the market with its proprietary indicators.

Go check it out. Investment-mottles.com. Well, we had this big day yesterday, and we say to you every day, we don't know what tomorrow's going to do. Just that. So we're going to give you out the final numbers. But remember what we always tell you.

If the Dow's down 400 in the NASDAX flat, we think it's a good day. We don't want it the other way around. So it's going to be reported today. Dow down 194. But the S&P was hardly down, and the NASDAQ was up 14, NASDAQ 100 was up 11. And get this, with the Dow down 194, advanced declines were 2517 on the New York and 2320 on the NASDAQ. Now, of course, in a market that's in recovery mode, there will be warts.

Warts. And you always got to be paranoid. You always got to watch. Do you know today, the day after. real good day. Costco. Costco was down 36 bucks. A huge drop. Dollar General was down 20. In the Dow Salesforce.com was down 14. BJ's wholesale was down four and a half. So we're going to let you know the Dow was down 194. It was not a bad day in the market. Of course, there were things that were down. But here are the things that are sticked out from me. As we told you over the

recent weeks. The dollar is now in a downtrend. Other currencies are in an uptrend. The bond market's in an uptrend, which means yields are in a downtrend. That got even more accentuated today. The dollar broke below the last three weeks support and so did yields. Get this. The 10-year yield, the most important thing attached to your mortgages, went for the last three weeks. Went for the from 3703, 3.703, all the way down to 3.529. In case you don't know, it's a huge single day move to the downside, and that is huge for the mortgage business. And in case you don't know, the high was 4.33, and we have stuck to this.

We've told our peeps and we've been telling you, the trend now is the other way, the opposite of what's been going on since end of last year. How long it lasts and how far it goes, we don't know, but it fell even further today. That's yields and our dollar versus other currencies, which begs the question, so Gary, you've been telling us markets love things like that, why was the Dow down? As I stated, wasn't so bad. United Health and Health and Salesforce.com were about 130, 140 Dow points of the 194. So not as bad as you will think. But what we will do now, as we've rallied up some, is isolate the weakness. If things can't rally up now, you've got to ask questions why. Like we're starting to see a little bit of waning in the

financials, why would that be? Oh, that's simple. Because if yields on the long end come down, but yields on the short end go up, there's your margins. That doesn't help the financials. The oils, we have been telling you, they seem to be done for now. Not necessarily bearish, but done for now. They didn't have a good day today. And we think they're kind of sort of done for now. There's still not a lot of leadership. There are some things finally edging out of range and actually sticking, but not a ton. But on a daily basis, more and more names are doing what we call coming up the right. They stop coming down and they start coming up the right side. I see it in some of the medical research companies, actually seeing it in some of the

bombed out software type names. Keep in mind, a lot of them are down 60, 70, 80 percent, and coming up the right side. We'll stay paranoid, though. And why? I will be very worried if we get to the point where markets go down. down even though yields in the dollar are going down. That's when we think we cross the river to the market caring about the crappy earnings and the not-so-thrilling, at least what we're seeing, economy.

As savings rates have plunged, credit card usage has been skyrocketing. So we're going to keep watching very, very closely. and not necessarily always be skeptical because we believe in what the market shows us, but we suspect the market's just not going to hand over bucks. You know, in bull markets, sometimes the market just gives. Anything that makes a move goes. We don't think we're in any type of environment like that, but definitively, definitely. better tone, more names coming up the right side.

Tomorrow we have a jobs number. I have no clue what that reaction will be. And we'll keep us informed, which means we will keep you informed. With no agenda, no ulterior motive, no bias whatsoever. For me, the big story today was not necessarily the stocks, but man, that bond market,

they are buying the crap out of it. We'll see what they're betting on down the road. But an absolute change of complexion also in the currencies. And if you have a chance, it's the dollar index. Rode up the 50-day moving average until the high, early November. Take a peek. Up next, more on this, that, and the other thing in the markets. I'm Gary. This is the one only investor's edge.

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This message is brought to you by the Capital One Venture X card. Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect. Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet? Terms apply. Lounge access is subject to change. See Capital One.com for details. You're listening to. What are we waiting for? Well, what are you waiting for? One, two, ready, go. Action! In the guest's edge.

with Gary Culper. But-da. Hey and welcome once again to Investor's Edge. Tomorrow I will be on Fox business between noon and two. I know Neil Cavuto's out this week. Not sure who the host will be, and you never know what we're going to be talking about. Hopefully they're going to ask me about the creep at the FTX crypto.

and we are getting emails from you about do you think there's ever going to be a good trade in these in in the bitcoin and stuff like that there's always going to be in every downtrend there is what i worry about remember what we've been saying to you all long we thought that the reasons why these stand taller while everything else is pretty much gone to zero is because there's a select few people that own so darn much that they can't sell or they kill each other. Well, it turns out a lot of these exchanges owned a ton of this stuff. And that's been killing it. Whether or not they bounce them or not, I don't know.

We'll let you decide. We'll just stick to our fundamental thought process. what is one worth? Why is Bitcoin, what is it, 16, 17,000? Why isn't it worth 8,000? Why isn't it worth 1,000? Why isn't it just worth a buck? That's all.

Could it ever go back to 64,000? I think that was the high. Well, somebody's going to have to pay $63,99.99. That's how it gets to 64,000. You need the buyers at the price. See how easy it is to narrow this down? Why do you think I got so pissed off at this Kathy Wood in an interview with Bloomberg saying Bitcoin's going to a million? And the Bloomberg interview with no follow-up.

You know what the real sarcastic question would be of Kathy Wood? Well, if you're 100% sure it's going to a million, why don't you buy the hell out of it right now at 100,000 and just bid it up there? and of course everybody'd sell into it. Somebody would have to pay $999,9999.99 in order for it to go to a million. That's how it works. But yet the Bloomberg interviewer could not even think of addressing such a ludicrous statement from an obvious nutcase. And I would say that to her face.

that's nutcase-ish 61-fold she's saying it's going to go up in seven years that should be the cold open for Saturday Night Live so we plead with you and beg of you just watch Price it'll tell you everything it needs to know in order to go to a million

it's going to have to get through 20,000 and keep going and keep going and somebody's going to have to decide it's worth 100,000 I'm buying and 200,000 and 300. But you need to know these people have lost their asses in this and are still giving you their opinion on this. And as we state to you and we mean this, if you broke your right arm and you went to a doctor and he puts a cast on your left arm,

are you going to listen to that person again, that doctor again? Hell no. If somebody lies to you nine times, are you going to listen to what they tell you on the 10th time? If somebody has destroyed your wealth with bad management of money, are you going to continue to give them money? These are simple, logical questions that I don't think enough people take a step back and ask. At least the Bloomberg interviewer did not think journalistic malpractice, as always. and if any of these journalists ever really did their job with these politicians, maybe we wouldn't be 31 trillion of debt. Maybe the 80 trillion they've spent since 2000 would actually have done some good. You get my point.

Protect your capital first. Everything else. Secondary. We will tell you what we think about. the secondary part, by continuing to express where we think the leadership in the market is, and on the other end, what to avoid. And when being right, hopefully right for a long period of time, and for big bucks. And when wrong, be wrong fast, be wrong small.

Be in recognition of being wrong. and not get mad for being wrong, knowing that every now and then, you're going to be wrong. And as we said yesterday, some of the greatest hedge fund managers on earth will tell you there are others that will pick more winners than them. But it's what they did with the winners

and what they didn't do with the losers that have them beaten the pants off of everybody else. What a concept. That all said. I'm going for a haircut. You have a great evening. You all drive carefully. When you get home, do like we do.

Read your nasty emails. Just kidding. Make sure you hug your family, you hug your children. They will feel better. You will feel better. We promise until tomorrow's same time. And between noon and two, Fox Business Network, you will find me, my handsome and buff self. Take care.

Have a great night. Peace out. 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 GaryKK dot com. This message is brought to you by the Capital One VentureX card. Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect. Elevate your earn with unlimited double miles on every purchase, bringing you one step closer

to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet? Terms apply, lounge access is subject to change. See Capital One.com for details.