Investor's Edge with Gary Kaltbaum - Not So Good Week In Review.

Episode Date: August 18, 2023

garyK.com or https://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 Coltbaum, your host.

A thanks for being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It's Friday, August 18, 2023. It's Friday. I'm good with that. Hope you all having a good day. Looking forward to the weekend. I was supposed to go to New York City tonight.

I canceled it till next week. Parents are doing well. Affords me a little bit to relax, the back and everything else. It is 3.48 p.m. So the market hasn't closed yet. It'll close in 12 minutes. As I speak, Dow's up 83. Four minutes ago, it was down five.

That's how paper thin it is. Just so you know. Market's been dead all day. In minutes goes up 90. points just on a push of a button, but it all counts. It all matters. And coming into today, it's been a rough week. All the oversawed indicators were bright red so a bounce can happen anytime. But a lot of technical damage done in the recent days. We'll get into that. We'll do the week in review and much, much more. But first, if you do not get this radio show in your city,

We'll post it at gary k.com. We'll also post it on our Twitter feed, our X feed, which by the way, be careful. Don't ask me why, because I'm a nobody. There's a few people out there impersonating me on Twitter or X or whatever you want to call it. I don't know why anybody would want to impersonate me. What they do is they take my address on Twitter and just change a letter or make a capital. So what you have to do is report them. Before Elon Musk, when it was reported, it used to get done pretty quickly.

Now they have so many less people working there. It takes like a hundred times reporting to get rid of them. And it's so, again, I'm like, I got a radio show, I'm on TV, you know, whoopee for a few minutes a day. I'm a nothing. I don't have a billion people following me. I once had 90,000 on Twitter and overnight it went to 30. Don't ask me what happened there. So anyway, be careful of that.

My Twitter feed, let me just tell you what it looks like. In case you do want to follow me, it is, if I find it, capital G-A-R-Y, capital K-A-L-T-B-A-U-M. that's me everybody else is full of crap and again why anybody would want to uh you know be me beats the hell out of me that's kind of weird anyway we'll do the market in a little bit uh coming in today a rough week it's really been three weeks uh as we stated it started with just blow up after blow up after blow up in technology and software and the like. And there was a couple of more blowups today. Keys, K-E-Y-S down 21 to $129. Just another one. And there's some that are actually up, which is good news. And the fact that it's an update today and we'll see how we close.

By the way, a minute ago, we're up 120. It's now 60. So that's how paper thin it is as we go into the close. It's 351. Let me start out by saying my worries. And they're pretty solid good worries based on pure fact, not opinion. The maniacs corrupts sleaze bags in DC. We are going to run a one and a half to two trillion dollar deficit this year in spite of the president saying he lowered deficits in spending. Well, that's number one. Now, why would it all of a sudden be important? Well, no longer is our central bank rigging the bond market. And in case you don't know what the bond market is, that's the interest rate market. And in case you don't know, when our government goes to borrow money from UI and the Chinese and wherever else,

they have to put out bonds, especially ones, if bonds mature, which they do all the time, they have to come out with new bonds. And what's the problem? Two years ago, rates were at zero. Rates are much higher now. So the cost of to do that is going up. And as more debt and more debt and more debt and more debt and more debt, normally when you don't have a central bank rigging those interest rates,

interest rates have to go higher as more and more debt to account for all that debt. Let me give you an example. This was sent to me and I verified. And I'm going to say it slow so you get it because sometimes you say things quick. In 2020, three years ago, a $2,500 a month, 30-year mortgage, putting 20% down on the interest rates back then could have bought you a $758,000 house. Today, you cannot buy a $758,000 house anymore because of rates much higher. you can only afford now $443,000 house. So let me repeat that.

Right now, well, let's go backwards. Back then, to pay $2,500 a month and 20% down, 30-year mortgage, you could afford a $758,000 house. Now only $443,000. Now remember, the reason why all this is going on is that same guy. we whine and complain about, that nobody rips in Washington, D.C., hardly because he's not elected. Jay Powell caused all these distortions. He took rates down to zero.

Everybody went and got 3% mortgages. You can't blame them, and it's pretty much free money after the interest write-off. And anybody who had a higher mortgage rate adjustable, adjust it down. Now it's 7, 7.5, 7.5. Somewhere in there, I'm hearing. It's a world of difference. And why is it up now? Because he's no longer rigging the bond market.

Just remember what he did, and it's sickening. He printed money out of thin air and interfered with the biggest market in the world, and that's our bond market, and bought the crap out of bronze to take them down, and take them up in price, down and yield. Bought the hell out of them. And it was a worldwide phenomenon. Austria was able to float a 100-year bond that, eight tenths of 1%. It's down 60%. In other words, anybody who bought that is screwed. You've got to

wait 100 years. We're not making this up. This is all brought on because of the whims of a few. And of course, Jay Powell also created the bubbles. He also was the cause of inflation. He doesn't get that blame, but we were on it before anybody else. And the reason why he doesn't get the blame is because he's not elected. So they blame Biden. Biden was just a little part of the inflation by spending like an ass clown. And now he's even worse. So now interest rates keep going up. Today they're down a little bit, but as they go up, the cost of capital goes up. The only good news is the other side. Remember when we were getting zero percent rates on our money markets? We now get four and a half five. You can buy a one-year,

bond now at 5.4. You can get a two year almost five. That's the good end. The bad end. Try borrowing for mortgage. Go look at your credit card if you don't pay it off every month. And then corporations, you know, they float dead all the time. They were happy as all hell. If they were smart, they would have been floating 30 years. But anything that comes due, they're now floating higher and that's cost of capital going up that's a worry we're sitting now on the 10 year at 4.25 10 year you ready for this it was 0.398 in March of 2020 that's 0.398 we're now 4.25 again the insanity of one man and it was I'm oh I was amazed at the time nobody was listening to me. I was telling you the outcomes. By the way, Silicon Valley Bank went out because they went long-dated

maturities to make a little bit of money and lost their, you know what, and there was a run on the bank. Guess what? Bank of America is sitting on maybe a trillion bucks of losses right now. What? Yes, but just realize, as long as there's no run on the bank on Bank America, they're okay because those bonds will mature over time and those losses will not be losses anymore. that's a worry and it's a good worry it's the number one worry because it affects the decision making of everybody everywhere big small companies businesses you i look what i just read to you in 2020 you could afford a seven hundred and fifty eight thousand dollar house with 20% down in 2,500 a month. It now only buys 443. Up next, we'll give out the final numbers. Lots more. I'm Gary. This is the one only Investors' Edge.

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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 Coltbaum. It doesn't get better than this. What else?

Well, the 30-year fixed mortgage is at a 23-year high. Got that? Small banks now hold 1.9 trillion of commercial real estate loans, up nearly one trillion since 2017. And because of mass vacancies, prices are down 20% in a year. Credit event, anybody? I can run down the list of things that worry. Have you been reading about China? So China has these property companies. And in case you don't know, in 2016, last time I was in China, we got in a car and had a driver take us. We were just going places. And he pointed out, I'll look over there.

Oh, what's that? And he named the name. I don't remember the name. That's a city that was built and nobody's there. I'm like, a city? Can we go over there? No, we'd rather not. We'd rather not.

I said, okay. Well, what's over there? Well, look at those buildings. They built how many buildings? They built dozens of buildings. So there's all those buildings that are empty. Oh, look at that. That's a mall.

They built that mall. It's empty. Oh, look at that. So we passed one. And then we passed another and another and another and another. So now what you have is Evergrand. Just a property company filed bankruptcy. Their history, they're out of here.

They lost billions of dollars. 81 billion lost the last past two years. You got country garden, 200 billion in unpaid bills. These are property companies. The worry is if it happens over there, does it affect things over here? And is it the shape of things to come? The little things. And by the way, these are all facts. No opinion. I want to let you know also in the first 10 months of this year. You know, Joe Biden's telling us how he's lowered the deficit. the first 10 months of this year, 1.62 trillion deficit. That's a record for a year, notwithstanding COVID. So he's a lying sack.

And as you put out more debt, what happens to interest rates if you don't have one guy in the central bank printing money and buying it down? By the way, our central banks down a trillion bucks in their little account that they don't care about. U.S. credit card debt has crossed above $1 trillion for the first time ever. got to mention that. 600 million credit cards are now out there, and the credit card interest rates are skyrocketed. I just think these are notes of notes. Office buildings are down nearly 30% over the last year alone in property valves. I'm just reading things to you.

Interest expense on U.S. public debt at $857 billion over the past year. Interest. Remember how they care so much about us? Well, because of what they have done through the years, that $857 billion, by the way, record and growing, will go to interest, not towards roads or bridges or streets or airports, or the elderly, or the children in need, or the children that are hungry, or the infirmed, or anything that matters. It goes to interest, a black hole brought to you by these scumbags in Washington, D.C., that I have zero respect for, every single one of them. Gary, you use the word scumbags. well when it all blows up you'll be using those words too remember what we've told you we don't know

when we don't know what date or what point we don't know what the trigger is but all they keep doing is coming out with another credit card with a higher credit limit to pay for the last one that's all they're doing that's their MO and we allow them we let them and we do nothing about it give me one sec we do absolutely nothing about it we vote the same people in every time because we see an R or a D. The problem is, and I get it, the next person is worse than the last one. And if you dare bring up Social Security, Medicare, Medicare, Medicaid government programs, they tell you you hate the elderly and you're throwing them off a cliff, even though they're the ones that came out with this Ponzi scheme that's doomed to fail no matter

what. Doomed to fail. Remember, they told us the Social Security was in a lockbox. Remember when you retired years ago, all that money that they took out of your paycheck, they said it was in a lockbox. They stole it. It's gone. You people that are getting your Social Security checks right now, you're not getting your money. You're getting my money. And your neighbor's money was working. And they don't care because they're going to be dead or retired when it all goes, poof.

And it just so happens that the guy in the White House now decided to supersize it and do it in fastest, quickest way possible. And he got away with it. And you know why he got away with it? Because the last guy Trump did the same thing. So the Republicans can't have a fit over it because they did nothing about Trump doing it. You know, Trump, I'm the greatest negotiator of all time, and I'm going to be able to get rid of the debt within a year. He lied.

He's the same as all of them, politician. But I'm not a politician. I'm working for you. Anyway, that's my biggest worry. I'm not worried about you or I. I'm not worried about most of us. We get up every morning, work our tail off to do better for ourselves and our family, medical companies with new wonder drugs and new inventions, technology companies moving us forward. Hopefully AI doesn't replace all of us.

We're fine. It's them. Every time we move up two steps, they take us back three. And they tell us it's for our own good. They know better. Yeah, Joe Biden knows better. You know what he knows better? much better how to be corrupt and influence peddle his way to riches through his son

siphoning money left and right to family members to the tune of 20 who knows maybe 30 million bucks that's what he's good at he's certainly not good of pulling us out of afghanistan and now we got trump i'm not fighting for me i'm fighting for you my arre my arles He's taken your money that goes to campaign for his defense funds. Give me a break. We'll see how it goes. Anyway, that's my worry. That we no longer have, well, the good news is we no longer have this guy printing money to take rates down to zero.

And things are getting normalized. And as things continue to get normalized, everything else has to get normalized based on higher rates. And higher rates dictate, you get my point. and the amount of debt we have now versus decades ago when rates with this high is gargantuan. So anything's possible. By the way, the other distortion is we said, I repeat, ain't nobody want to get rid of a 3% mortgage, so nobody's selling their house. Who wants to sell a house at 3 and get 7? What did I tell you?

What did I say to you? you could afford a $758,000 in 2020. It's now 443. Why the hell would you want to change that? And that's why inventory is the lowest it's been in ages. But due to the fact everything Jay Powell has touched has turned to the disaster. I'm wondering what the outcome is going to be of this. Up next, markets closed. We'll have that more. This is the one only investors edge. 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. 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, Sprinker 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.

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. Spreaker, because if you're going to talk to yourself for an hour, you might as well publish it. 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 a Unlimited. limited 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. We're listening to. America is talking. Investors Edge. He's got to be pleased with that. The crowd is just on its feet here.

He's a Cinderella boy. With Gary Coltobob. It comes highly recommended. You're going to feel better if you talk to. Okay, three notes, and then we'll get to the market wrap. First off, remember Wednesday? We told you what? Trump is going to come out next week. He has 1,000% proof about election fraud, and he's going to come out and show everybody. And you know what we said to you? Here he goes again, over promising and under-delivering.

He doesn't have anything. They canceled it. And of course, they're lying and saying, oh, attorneys told us not to. Like Trump ever's listened to his attorneys. What they figured out is they had absolutely nothing. It was all a bunch of BS again. And the only thing could happen is put them even more in harm's way. That's number one. Number two, crypto.

So I guess Elon Musk said something overnight and the Bitcoin got smoked again. Let me repeat some things. here years ago we said to you 90% of the coins would drop 90% of more with most going to zero that was our theme it was based on the fact all these miscreants 23,000 coins they came out somebody came out with this doji coin as a as a lark and it went from zero to 70 cents I don't even know where it is right now it's probably five or six cents I don't even know why it's still trades Anyway, in case you did not know because they won't tell you because they got to keep the con going, it's six cents doge coin.

More than 90% of the coins are at zero. More. Probably 95, maybe 97. I don't know. It's in the 90s. And it seems to me, and I think Bitcoin, Ethereum, maybe a few others, are just now trading vehicles. Bitcoin being the Grand Puba, Ethereum being second. And you still have these miscreants out there.

What are the Kathy Wood? It's going to be a million by 2030. Yeah, sure. It's going to go up 60% a year until 2000. Yeah, sure. Right. Which means somebody would have to pay $999,99.99 for it to go to a million. Anyway, crypto, overnight must said something, blasted it, took down the micro strategy and some of those other names.

We just tell you to be careful. I don't know if they're going to blast this thing into smithereens. I don't know if Bitcoin's ever going to go to zero. I don't know. I just know, be careful. Next, VFS. VFS. I think I mentioned to you, was it yesterday or Wednesday, they did another SPAC with an electric vehicle company from Vietnam.

That's a startup. They have nothing. and somehow the SPAC they did the merger called VINFAST went from 10 to 39 Tuesday it hit 12 today and somehow it finished at 1540 but still down from 39 from Tuesday please be careful they don't have anything they're just now they got money now and they'll probably build the plants and this and that and I think they broke around in the last so-and-so and maybe they'll sell cars but it gave it like an $80 billion something like market cap come on and the fact that spacks are even getting done now when my spack page has a ton of them sitting at 20 cents and 30 cents that used to be 10 bucks some went to 30

or 40 is beyond me how it continues this con continues to go and I am not saying that VIN fast is a con the company. I'm sure they're going to try and bring out electric vehicles. The system is a con. They should not be able to go into the public domain this way anymore. But fees, baby. Any way, shape, or form, we want fees. And if we can do it quick, let's do it. Oh, and they're doing it. And the market's close. So the market wrap is brought to you by Investment-Models.com. That's Jim Moraback, one of the great market timers. No gray errors with the man you're either in or out of the market. It's proprietary indicators. Go check it out.

Investment dash models.com. Remember I said the Dow went from minus four to up 110 within like minutes? Finished only up 26. And by the way, with about 30 seconds to go, it was only up one. S&P down 65.65. NASDAQ 26, NASDAQ 121. Transports 57. Hey, for a change.

advanced declines better 21 to 18 on the new york 22 to 19 on the nasdaq there's hardly any new yearly highs i think i saw the abercrombian fitz at a yearly high and a lot of new yearly lows on strength today oils because oil prices bounced so oils bounced um china got trounced again overnight boy the chinese stocks and i don't know if you heard the story that there Numbers are not very good and there's deflation. Oh, and by the way, they lowered interest rates and everybody's looking at it as an act of desperation. All we know is we watch price and volume and price and volume stink.

Institutions continue to lop off shares of these things. And as we've told you, we think you have risk, risk and more risk based on a government who's been taken over too much, does not believe in capitalism, believes they're smarter than businesses. and when you have a chance, go check out FXI, CW, E B, and KWEB. What else happened today that sticks out? Not a lot else. As I said, oils. Ross stores a discount are up almost six bucks.

So a couple other discounters were up like five below. And just mixed bag. What still is worrisome. City Group again down today. Goldman's city group as we said is back to the lows where it went to traded at the Silicon Valley bank debacle and you know there's some pretty smart people out there that think there can be some sort of credit event as we move forward we'll see all i know is financials are acting like the met's even though they won last night as you can tell i'm pretty depressed about my met's and as far as

big movers today, just not a lot. The semis were up today. By the way, we opened down pretty badly, so we had a day where we opened down badly and finished better. That's been a little bit of a change, but there was no real oomph today. The semiconductors were up, we'll take that. Applied Materials was up five.

That's one of those equipment makers that has held up much better than a lot of the semis. On their 2% drop in earnings and their 1% drop in sales, and that is another deceleration. of the last four quarters but that's been good for the semis other equipment makers were up lamb research kale 8 10 corn the like uh i'm not sure i got a lot more uh interest rates down a little bit 4.251 on the 10 year down point 57 oil prices were up as we mentioned about the only group well oil and a few coal stocks are on on the strong side

few. I've been watching carefully all these blowups in software land to see if there's any remedy. I can tell you something really weird and I haven't seen it yet. For some reason, Palo Alto Networks is reporting after the close and usually they beat the number and usually you have good reaction to earning. So we'll see what comes of that. Ah, and there it is. It's up 17 bucks in the aftermarket to 226. Now let's see. Let's see where it takes it. Well, just dropped from 254. So much better.

Still below the 50-day moving average. And again, I don't understand why anybody would report earnings after a Friday. Kind of suspicious, but it looks like they came out and the market likes it. Beats by 15 cents guides first quarter above consensus, but revenues below consensus. So earnings above revenues below. It's 2024 earnings above revenues below. So what's so good about that? Revenues, aren't they important?

Hmm. They did 144 versus 129. Yeah, the numbers are good year over year. And they're up in the aftermarket. So that's good news. Maybe the software stocks on Monday have a better open. That's software security, by the way, that got yonked because another software security stock got yonked.

And next week, NVIDIA. And everybody is depending on NVIDIA to write the world. That everything's going to be much better. Everything's going to be A-OK. We shall see. Up next, whatever else we got on our brain. I'm Gary. This is the one only investors edge.

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. 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 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. Spreaker, because if you're going to talk to yourself for an hour, you might as well publish it.

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 Gester's Edge with Gary Culpa. So if Palo Alto Networks opens where it is right now, it shall be just below some serious resistant areas. And that's what we're going to be watching for on Monday. But there's nothing we can do right now. It's 229 in the aftermarket closed at 210. they raised earnings a little bit, but they lowered sales. Okay.

We're big believers in the reaction to earnings. Everything else is noise, and we'll see what happens over the weekend. On the week, Dow was down 780 points this week, down 2.21%. Not a good week. The S&P 500, now 94 points, making sure this is correct, yeah, down 2.11%. The NASDAQ, down 354 points, 2.59%. The NASDAQ 100, down 2.2%, or 33 points.

The Russell 2000, down 3.41%, 65.69. I think I got the transports here. Down 3.14%. The China ETF, down 6.4%. down 6.2% this week. And as we stated, and we always get asked, why not go more international?

Well, all I can tell you is the China ETF, the FXI, is trading where it was in 2006. Not making that up. I was even surprised when I saw that. The emerging markets, ETF, EEM, trading where it was, 2007, the IFA index trading where it was in 2005.

And I've been hearing for years, for years, how they're so cheap and you got to own. Yet we continue to kick there, you know what, all the time. I gathered despite all the flaws that we have here, and boy do we have them. A lot of those socialist areas, and I think we're getting towards there, but they're not great guns. We'll stick mostly here, and I've bought in the past, Alibaba. I made some good money in Bidu. I'm trying to think of the year that was. It was a while back.

Yeah, I think that was like 2009 when it really had a good move. but since I've been loathe and then they killed their own education companies in the last couple years. Symbol E-D-U went from 200 down to $8,000, all because the Chinese government said you shouldn't be making money. T-A-L went from 90 down to a buck 60, all because the Chinese government said, you shouldn't be making money. all because the Chinese government said you education company shouldn't be making profits. Gee, not the greatest thing in the world. So we don't trust and good reason. And the guy that runs the show right now is a control freak.

I couldn't say that to his face. They locked me up. But he's a control freak. And they're taken over more and more and more of the business and decision-making. and all that fun stuff. And Hong Kong, they were supposed to take over, but not really rule the roost for many more years to come. And they are, forget about it.

And they use their strong-arm tactics. So why the hell would I want to invest in that stuff? Which means I'm going to miss, maybe they're going to have some good stocks. I'll miss them. It's just like we tell you, we're never buying a biotech with no sales. We've missed a bunch of good moves throughout the years on biotechs with no sales, but we also missed the 50 to 80% overnight drops because the placebo did better than the drugs in phase two trial or phase one or what have you. It's just about measuring risk. simple as that

where, when, who, how measuring risk and as we told you the story about Kmart versus Target where we live easy pickings nobody's in Kmart

everybody's in Target you walk into Kmart shelves are dirty, dingy nobody's helping you you walk into Target it's nice and bright people are saying hello the aisles are in good shape

There's merchandise there. The Kmart shuts its door. Target, well, Target has their other problems in the last year between that and that. And the shoplifting, by the way, which is another story. So it's kind of sort of, and that's why we're always amazed when people tell us, we own this, we own that. I'm like, do you know how bad the company's doing? Yeah, but it's Yeah, but value, yeah, but cheap.

And we just try to tell people, don't you want to invest in greatness? If I was betting on who was going to win the NBA championship this coming year, I would love to bet with my heart and say the Knicks, but I know they have no chance. I think they'll get into the playoffs. You go with, and you pay up for the real greatness. Maybe the Knicks come from behind. knows. That's just a little bit because, man, I'm just reading the news on China now,

and everybody's been wondering why has China stocks been gagging and now the news starts coming out, and that's how usually it happens. Now, whether it turns into a bigger disaster, I don't know, but some pretty smart minds on Wall Street are worried about some sort of credit event. and we've seen it before, meaning credit blowups. And then there's always who owns it, who owns the debt, banks, lenders, hedge funds, entities. These are the things that will watch big time. And that's why when I watch Blackstone and all these other companies, what be going on. So stay tuned, we'll be on it.

Have a great weekend drive carefully. you get home, do like we do quite simple. Make sure you hug your family, hug your children. They will feel better. You will feel better. I promise. Until Monday, peace out all. Again, have a great, great weekend. Thanks for joining. Bye-bye. This has been Investors Edge with Gary Cult Bomb on Biz Talk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryK.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.

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