Investor's Edge with Gary Kaltbaum - Noisy DC [01.07.2026]

Episode Date: January 7, 2026

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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 Colbaum, your host. A thanks for being with us today. Glad you here, ladies and gentlemen. Happy that you are listening.

It's Wednesday. It's January 7th. It's 2026. Yes, 2006. Hey, hope you have in a good day. Ladies and gentlemen, we have made promises to you throughout the years. The main promise, because there's been so much noise and interference, measured by we're heading, we'll be at 40 trillion of debt very soon. We will have no bias, a gender ulterior motive when it comes to who.

We will tell you like it is, whether you like it or not, whether you hate it or not, whether you love it or not, whether it's your favorite, whether it's the one you can't stand. We are free market capitalists here. We believe as long as you are living and working and doing within the rule of law, as long as you're a company, live and work and do within the rule of law. an individual working living doing within the rule of law and wanting to do better for yourself and your family have at it we do not believe in anyone

over your head with a machete and a mallet cutting you down we believe in the free market to be your best Now, we're not naive. We know in certain circumstances, you've got to have rules that you have to live by. You have to have some regulations that you have to live by.

But what we're going to be talking about, unfortunately, at the outset today, is what we think, and you may not, is overreach again by. by a man who is no free market capitalist, who believes in the engineering of things, who believes can do no wrong, even though crashed the markets back last April, and had to change the stance immediately because of doing wrong.

And we take absolutely no joy in this. We do not have Trump derangement syndrome. We have complimented him beyond the beyond on many a thing, but we have to take him to task on others. And when we say to you on this show in the introductions, we will talk to you about markets, the economy, the more locks in D.C. Because more now than ever, they don't stop.

they keep bugging and bothering and never leaving us alone. That's what we're going to do today at the outset. And if you do not get this radio show in your city, we will post it at garyk.com, also on our X feed. And if you don't follow us, you should. Also on the podcast apps and the Biz TV YouTube channel. If you'd like to email me, just be nice. Ladies and gentlemen, today, Lockheed Martin down $25.

General Dynamics down $15, Northrop Grumman down $33. The president. All U.S. defense contractors in the defense industry as a whole, beware. Defense contractors are currently issuing massive dividends to their shareholders. That is a lie out of the president's mouth. Northrop Grumman yearly dividend is 1.6%. Lockheed Martin 2.7 percent. General Dynamics 1.7 percent. He goes on to blast salaries, stock options, and every other form of compensation being too high for the executives of our defense companies. Well, ladies and gentlemen, let me state the obvious, and you know it. If it was Joe Biden, Coming out with this statement, the right would be having crap fits over it about a president taking out a mallet and machete and an industry.

I don't care whether it's the defense industry or the aluminum bat industry. Just let you know. That was number one. Now, I gather people could say where there's a component that they get a lot of our tax dollars. Yes, so? He goes on to say no executive should be allowed to make an excess of $5 million. This is the president of the United States getting involved with pay. And I asked the question, where will he stop?

So we just want to let you know the defense stocks was squash today. We don't know what the outcome is. We completely disagree. Oh, and he wants no stock buybacks either. So he lies about the dividends, and it's a lie. Provable. I just proved it. He used the words, massive dividends to shareholders.

That's number one. And since I would say the same thing, If it was Joe Biden, I would say the same thing about the president. But we're not done because all in the same day, housing. For a very long time, buying and owning a home was considered the pinnacle of the American dream. It was the reward for working hard and doing the right thing. But now because of the record high inflation caused by Joe Biden and the Democrats in Congress, that American dream is increasingly out of reach for far too many people.

It is for that reason, much more. I am immediately taking steps to ban large institutional investors from buying more single-family homes, and I will be calling on Congress to codify it. Codify it. People live in homes, not corporations. Really? The president now interfering in the housing market. Black Rock down 37 bucks.

Blackstone down 6%. Apollo down... almost 6%. So let's pick that one apart. Because I gather there's a case for both sides there, except for one thing. No president should be doing this. Telling companies that are lawfully acting a certain way, what to do? That's horse crap.

But let's pick it apart. What are the complaints? These big companies are buying too many homes, and they're buying too many homes in one area, two areas, so it's very concentrated. And because of that, it's kind of sort of pinning the price the way they want and not market forces. That would be an argument brought up, right?

Right? You know what my argument is. good stop them who's going to pick up the slack of future demand that's number one number two do you know how many smaller buy a bunch of homes what are you going to tell them number three what if these company say, okay, we're just going to put all this crap on the market and get out because you're hurting our business. Boy, if the president wants to see affordability, wait to you see what would happen if they ever put all these on the market, which by the way is not happening. But what if it did? But back on the point, the president who has put tariffs on every industry

and how to take them off, how to give exemptions to many, how to pay off the farmers because of them, while telling us tariffs are paid by other countries, to this day, is now interfering with the housing market and the defense industry. Up next, we'll put a bow tie on, and then today's market,

which, by the way, got affected by this. 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 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. This episode is brought to you by Spreaker, the platform responsible for a rapidly spreading condition known as podcast brain. Symptoms include buying microphones you don't need, explaining RSS feeds to confused relatives, and saying things like, sorry, I can't talk right now, I'm editing audio. If this sounds familiar, you're probably already a podcaster.

The good news is Spreaker makes the whole process simple. You record your show, upload it once, and Spreaker distributes it everywhere people listen, Apple Podcasts, Spotify, and about a dozen app. your cousin's swears are the next big thing. Even better, Spreaker helps you monetize your show with ads, meaning your podcast might someday pay for, well, more microphones. Start your show today at spreeker.com. Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it.

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. quality programming. With Gary Coltbaum. It doesn't get better than this.

So, my bigger picture. My bigger picture. My bigger picture. The president puts out a tweet or whatever you call it these days. Hey, Starbucks, you're charging $4.95 for your breakfast. sandwich, your spinach and feta rat? What kind of crap is that? Apple. How much you charge for your new iPhone? What kind of crap is that? Can I continue? Because I can. I can go on

every industry. What industry are you guys in? And if you own a bar? How much you charging for that rum and coke? Too much. What would that do for you? Oh, you're a real estate broker? How much you're charging? Trump might as well be a lefty Democrat on business. Oh, but he lowered taxes. He also raised taxes. That's tariffs. The market's been acting pretty well, but the Dow dropped 466 today. And I don't think there's a big cause and effect, except they came after the financials at the end of the day. That was cause and effect. Because If you're telling financial companies what they can't do, who's next? You know, he certainly opened the spigot on crypto as his sons are making hundreds of millions.

There's no cap there. Oh, but you're CEO at Lockheed Martin. No, no, no, no, no. You can't make eight. You're making five. Is that the president's job? You tell me. You tell me.

anyway I would say the exact same words if it was a lefty a righty if it was Bush on the right if it was Obama on the left Trump on the right Clinton on the left because we don't have sides we only care about policy and we now have the president interfering with two industries. And what we do know of government interfering with industries, they always screw them up. Why? Because you're distorting the free market. We know what Powell did. Government completely distorted the free market.

Housing is the way it is because of one. man interfering with the free market. Taking the 10-year yield down to a half percent with conjured up money to buy the bonds to get it there, causing 3 percent or lower mortgages to where who the hell wants to sell a home with 3 percent mortgage when it was at 7. What it does is forces up prices, hurts affordability, but then market forces eventually take over. Now you have massive inventory and fantasy land prices are now crumbling in many areas around the country. Jay Powell. But now you have Trump.

The market used to these institutions doing what they're doing. Now he says they can't. He is going to screw up the housing market. And of course, Trump will blame it on Powell or somebody else. Mark those words down and I take no joy. I want this man to succumb. succeed. I want him to do great things, but it's too much, and I would tell it to his face. Anyway, the Dow is down 466. Giveeth and taketh. You know what was down today?

Caterpillar and Goldman Sachs, the two highest price, 41 points total. 41 times 6.5. 41 times 6.5 equals 267 Dow points for those two that have really helped the market recently. And financials mostly lower. And I think that's a little bit of sympathy with that news on you can't do that. I will tell you most of the day, well, the NASDAQ finished up. The MegaCamp tech had a good day. It was much better earlier until the Dow got hit late in the day.

Microsoft was up 10, finished up 5. Google finished up 7. I never call it alphabet. And Viti was up almost 2. Amazon, well, it was up 4. It was only up 60 cents. It was still up. but just mushy

I'll call it a no biggie I think we were a little overbought in your term anyhow pullbacks are okay we'll take it I hardly see any breakdowns today except maybe the blackstone and black rock tucked in like a frightened turtle

and not much to add oh wait why would cement stocks break down today? Huh. If institutions can't buy homes, do we lose the incentive to build homes? Hum, hum, you know, you get to thinking. Just start the thinking. And the other question is, what is the market going to think? This is just a question. Will the market start worrying that the president is now thinking about industry after industry after

industry and what's next and who's next. And by the way, that was sarcasm about Starbucks. But the message was not sarcasm. If you make two... Let me go backwards. We'll do it up next on Investor's Edge. Guys, it's no use putting it off. The best time for an underwear refresh is now.

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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. This episode is brought to you by Sprieker. The platform responsible for a rapidly spreading condition known as podcast brain. Symptoms include buying microphones you don't need, explaining RSS feeds to confused relatives, and saying things like, sorry, I can't talk right now, I'm editing audio. If this sounds familiar, you're probably already a podcaster.

The good news is Spreaker makes the whole process simple. You record your show, upload it once, and Spreaker distributes it everywhere people listen. Apple Podcasts, Spotify, and about a dozen apps your cousin swears are the next big thing. Even better, Spreaker helps you monetize your show with ads, meaning your friends. podcast might someday pay for, well, more microphones. Start your show today at spreeker.com. Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it.

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. The political right. forever has said get your hands off corporate pay I will guarantee you that political right is now going to

kowow to this president oh yeah oh yeah oh yeah oh yeah oh yeah oh yeah sure okay yeah yeah yeah okay yeah okay well it's defense and they get taxpayer

dollars yeah okay What's next? Who's next? We hope it works out. We hope it all works out. We're rooting for him. If I met the president, I'd actually give him a hug for what he's done on the border, for what he's done for the colleges, stopping the ass clowns from letting the other ass clowns protest and threaten Jews. I'd give him a hug on Israel. I'd give him a hug on his golf courses. He's got great golf courses. One of the top ones I've ever played, and I played them all, is Trump, Scotland. I play Turnberry Trump, but that is before Trump owned it, so that doesn't matter.

I give him a hug. But I've got to take them to task on our principles of free market count. capitalism. Low taxes, less regulations, get the hell out of the way. No tariffs. Now, speaking of tariffs, supposedly the Supreme Court is going to weigh in on Friday. The chalk is they may say tariffs are illegal. I don't want that. I want tariffs to be legal. I don't want tariffs to be onerous. Those 150% tariffs that were going to crash the markets. onerous. I do believe tariffs are good to use as a lever. Leverage in negotiations, but not onerous. I don't know what the outcome is going to be. Typically, this Supreme Court has kissed

Trump's butt, but in the arguments, they've kind of gone towards not liking the tariffs. How will it affect? things I do not know. Supposedly, that'll be Friday. Yippee, A. What else out of today? Well, they hit it just broad-based but not as bad as

a Dow down 4C. It was two stocks again. They brought them up. They took them down. But of course American Express was down. J.P. Morgan was down 8. They're going to get the financials if you tell financial companies what they can and cannot do.

What else? Oh, housing related was down. Housing stocks were down. Why would housing stocks be down? The president came out. You're going to lose demand. Imagine if Blackstone was going to be in a position to buy a bunch of homes.

Let's say they did. They come off the market. That's less inventory. That's actually a good thing. And then slowly they say, sell them off. It's a good thing. It's not a bad thing. And I'm no doofus. I understand if they go overboard and there's too much concentration in one area, they have control. But man, oh man, either you're a free market capitalist or you are in there. What else did I notice today?

As I said, the NASDAQ, NASDAQ 100 finished up today, though way off the highs because the market came in later. The semiconductors down 78, but no big deal. I can tell you that Sandus was down 20 earlier, finished up 5. Sienna was down 10 or 15, finished up 5. LIT was down 30, finished only down 6 after being up. So they're still okay. some of the other semiconductors got hit pretty decently.

There was some harsh pullbacks in some things, and some things had good days. I will tell you that the waking up today of the software security, like the crowd strikes, better day, but I can't take much out of it as of yet, just a good day in a bearish phase. The crypto Bitcoin down again today got rebuffed. The big rebuff.

at the declining 50-day moving average with key which keeps in the bare phase the oils were down today oil prices came down a little bit and as i said the day they had the big oil thing with venezuela i ain't touching and you had some winners and losers the winners have come down the losers have actually bounced up so i don't know what the heck's going to come of that um switching over a little bit the economy uh the job number came in sucked. The other number came in was pretty good. So it's very weird that the economic stats, GDP, good, job numbers, bad. It's not often I've seen one good, one bad. I'm not sure what that means at this juncture. I'm just in hopes you all have jobs. Having a job is a good thing. and I've said to you in the past if you work for somebody else make sure you are somebody that is not expendable

make sure you are a person that is dependent upon that if you left they got a big hole to fill like the Baltimore Ravens they get rid of a great coach Harbaugh

who's done a great job for them most of the people there said no let's not do that but the owner said goodbye and i am in hopes the giants get him he's already had eight or nine inquiries to be head coach other things i wanted to bring up to you today um i put it here somewhere oh yeah so we want to be careful is what do i always tell you about valuation and stuff so really Recently, a bunch of the rocket ship stuff and space cellular stuff, well, here's one that has hardly any sales, loses a bunch of money, and a $31 billion market cap. The stock's been strong as of late. Simple ASTS. Got downgraded today was down 12%, but it's still been strong.

I'm always interested in seeing what people think on valuations. And let me read some to you. And at just the beginning, without yet a single retail customer, and faced with the challenge of orbiting 50 satellites to achieve continuous service in a handful of markets in late 26 or 2007, ASTS share price at 9760 has once, again, $37 billion market cap. Let me repeat the beginning.

Without yet a single retail customer, what have we said to you here? If nothing changes. If nothing changes. And these areas of the market go into a bare market, they will all crash. And when we say if nothing changes, without a retail customer. And again, we're not ripping on the company. And I'm sure they're going to have customers. But you're paying $37 billion.

When you're buying a share of stock, you're buying a valuation. Starbucks, when you go get a breakfast sandwich, you're paying $4 in some odd cents. Would you pay $25 for it? No. Would you pay $200,000 for a Toyota forerunner? No. You want to pay good value. valuation. Well, you'd be paying $37 billion for a company without a retail customer.

And, you know, I brought up the quantum and the nuclear and the rare earths and the Bitcoin mining and the drones and the all that stuff. We just want you to be careful. Why? Because as we've said to you, even though they've crashed, a lot of them down 50, 60 percent, they may not be done. But I will tell you again, and this is, is 100% of the time because we've studied every bare market in the past. If nothing changes and they still have no sales

when that area of the market finally goes real bears, forget about it. It's crushed. So I just wanted to bring this one up because I just saw what somebody said without a retail customer. Up next. This that and the other thing.

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Go to Tommyjohn.com today for 25% off your first order with Code Comfort. That's Tommyjohn.com, code comfort. Tommy John, comfort perfected. 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 detail. This episode is brought to you by Spreker, the platform responsible for a rapidly spreading condition known as podcast brain. Symptoms include buying microphones you don't need, explaining RSS feeds to confused relatives, and saying things like, sorry, I can't talk right now, I'm editing audio.

If this sounds familiar, you're probably already a podcaster. The good news is Spreaker makes the whole process simple. You record your show, upload it once, and Spreaker distributes it everywhere people listen, Apple Podcasts, Spotify, and about a doesn't apps your cousin's swears are the next big thing. Even better, Spreaker helps you monetize your show with ads, meaning your podcast might someday pay for, well, more microphones. Start your show today at spreeker.com. Sprinker, because if you're going to talk to yourself for an hour,

you might as well publish it. 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.

Other things going on. Some I understand and some I don't. The administration has put out new dietary guidelines. I'll quote somebody. They're going to war against added sugars and emphasizing long demonized saturated fat a new set of dietary guidelines. So they're telling you what's good or not good for you in your dietary guidelines.

20 grams of saturated fat, 10% of calories from this, sugar out of that. In is dairy products like milk, cheese, and yogurt, out as fruit juices and other sugar-sweetened beverages. in is saturated fats like unprocessed red meats, butter, and eggs. Out is refined carbohydrates like bread, pasta, and rice. Why don't I want to listen to them? Because these are the same people who just loosen restrictions on marijuana. You're trying to tell me marijuana is not as bad as, but this is... You get where I'm going with this?

Consistency. Clear lack of. I was just reading that and thinking to myself, wait a minute, didn't they just lose some restrictions on marijuana? Why would I want to listen to him on saturated fats? What does that have to do with you and your money and Marx? Everything. They're doing a lot.

They're doing too much. Just my opinion. Other news, U.S. seized a Russian flag tanker. Moscow is now threatening to seize American boats. just again the U.S. is demanding Venezuela several all ties with Russia, Cuban, Iran

demanding I'll repeat I am in hopes everything works out for the best we're rooting for them we stand side by side with them but as a voter

and American the right to critique them because you always worry when you know somebody thinks they do nothing wrong and are omnipotent. That's for the markets also. I've met people that thought they can never, ever, ever in the market.

And boy, did they get comeuppance. I will tell you, I look over my shoulder every day. I'm paranoid every day about anything and everything that I do, I make sure of that. So mushy day-to-day, big indices pull back, but not that bad. The Dow was down less than 1%. It's still above this little move, and as long as it holds the 50-day move and average, the spider, S&P, hardly down, but you know this little breakout, it's a little bit underneath

one good date that can change that in a heartbeat. we do want to mention again next week starts earnings and that's where we take a step back and simply what we look for reactions to great surprises companies expecting $2 billion in revenue does $2.9 and the next quarter they were expecting $2.4 and they're going to do $3.7 and they give you the whys and it's in the right group versus what we've seen with many a name on the opposite side. Whether it be Cracker Barrel, man, oh man.

By the way, I want to know why Cracker Barrel insiders are selling after it goes from 72 down to 30. That should scare the heck out of a shareholder. Just a note. And there's been a lot of blowups. Always watch for blowups. You own a stock that's 100,000, bucks and opens up the next day on earnings at 88, you better take a close look. Why? Because most often

stocks that gap down on earnings will continue down because something is not right. And by the way, the opposite side stocks that gap up are usually a good thing because they're doing something right while the gap down something wrong is going on. The story today was that, housing. I was on TV and said they're just in a bear market. Wouldn't go near them, wouldn't touch them. They'd other people on that liked them. We're very good at knowing what a bear market looks like, how it traces out, the roadmap and housing's in a bear. Bear markets remain in food and beverage and household products and tobacco and alcohol. Just brutal bear markets. amazing. Never used to see a General Mills just rocking down the bare market. But the food thing

is going on. The story is this O-Zempic and Mon-Wamia, whatever the names are, people are going to eat less and eat differently. So that's a move of foot. And on the alcohol front, There's just a lot of less alcohol use. And knowing that I had two people very close die of pancreatitis from alcoholism, that is a great thing. Because I got news for you and I never knew it until I saw it firsthand. Addiction is a war. It's a war. Anyway, that's that.

Tomorrow's another day. You all have a great evening and drive carefully. And when you get home, do like I do, quite simple. Make sure you hug your family and hug your children. They will feel better. You will feel better. I promise. Stay well, be well.

And just remember, I don't care about them. I care about you. Unfortunately, they run the show. Have a good night, everybody. 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 Gary.

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. Their zero-chafe 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. 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.