Investor's Edge with Gary Kaltbaum - Our questions for Joe Biden [02.27.2024]

Episode Date: February 27, 2024

https://garykaltbaum.com/

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while supplies last, loyalty program subject to terms and conditions. Visit the prodesk or Lose.com slash terms for more details. Subject to change. 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 Tuesday, February 27, 2024. Hope you having a good day. In case you don't know, this is serious talk on you and everything that affects you. The markets, the economy, jobs, unemployment, taxes, deficit, spending, scams, shams, corruption, you name it, we cover it

with no bias, no agenda, no ulterior motive, because we can't stand any of them that are affecting our lives in ways unimaginable. Rules, regulations, fees, fines, mandates, taxes, executive orders that we never thought possible.

And this, that, and the other thing. Hey, next up, if you do not get this radio show in your city, we'll post it at GaryK.com. We'll also post it on our Twitter feed which is now X. And if you want to follow us on Twitter, you go to Twitter and just put our name in. And of course, we also have this posted on all the podcast sites. So check it out. Ladies and gentlemen, sometimes we go through things to start the show. Sometimes we go right into the market to start the show. And today,

I've got to get right into it. So as you know, we have been neck deep. in the artificial intelligence areas of the market, the leadership names that are somewhat involved, give or take, some we don't have. We, I don't think it was a warning, but just a watch what happens from us, and that had to be, and was to be about watch everybody

enter the artificial intelligence fray. I think it was even yesterday that we repeated ourselves yesterday that in 1999, mutual funds change their name from the so-and-so technology fund to the so-and-so internet fund for one reason and one reason only to gain assets

because they were losing assets to other quote-unquote internet funds. Companies were adding the moniker.com to the names of their companies to get noticed and goose their stocks. Companies would make announcements, hey, we started a website. And why would they do that? Well, because they saw others doing it. so we've got to do it and we said to you even it was yesterday I'm pretty darn sure

and that we had repeated this expect other companies to announce artificial intelligence whether it's a big deal to them or not and some more than others today the next day

let me read something to you you. It's about a company you probably have heard of Apple. Apple canceling efforts to build electric cars and will focus on generative artificial intelligence. You think Apple's been watching their stock? Or you think Apple's been watching other companies. Now, just so you know, a month ago, it was only about a month ago, give or take, I can be off a little bit. Apple announced they're going full throttle into the Apple cars and now dropped it like a hot potato. It's been announced that 2,000 people that were involved with the cars are being moved to artificial intelligence. Quite the

interesting, ladies and gentlemen, let me state for the record. The stock got goose a little bit. Not much. As you know, it's been weak. The stock had been holding $180, relative strength, pretty poor. It popped up, and just so you know, Apple, for every dollar, it's $15.6 billion, this is $15.15.6 billion shares outstanding. went from 179.56 to 183.92. Foreign change, 60 billion plus in market cap. Pulled back, currently trading it 182.61. We're not at the close of the market yet. Still a weak stock, but we're just letting you know, even Apple. And we're not saying they shouldn't be doing this. They probably should.

But we're just letting you know, be wary, be careful of companies. I call them whoop-de-do companies. Whoop-de-do, you announced artificial intelligence. Whoop-de-do, I don't give a crap, it's meaningless. Just keep that in mind. Speaking of whoop-de-doo, I believe it was announced that, who's the drive-ththrough? Was it Wendy's drive-thru?

going to use artificial intelligence. But that takes me to Wendy's again. Just so you know, Wendy's is the weakest restaurant stock in the market. They have over 7,000 fast food restaurants in 31 countries. Revenues like $2.2 billion. They announce surge pricing. Do you know what surge pricing is? If you're in New York City and need an Uber and is very busy because of a concert or a Nick game or something, they do surge pricing.

In other words, you will pay more than the norm because of demand, whether it be right or wrong. You can call what airlines do surge pricing, but surge pricing for your burgers and fries? I was thinking to myself, that idea sucks. And whoever is running Wendy's does not have a clue and is trying something that makes absolutely no sense. And as you know, I call myself Mr. Logic, and this is what I'm thinking. You have Wendy's, and usually when you see Wendy's, it's on a street where you'll see McDonald's, or Burger King or steak and shake

or a chick-fil-a or a chip-fil-a or a Chip-fil-lay in other words you have choices don't you think this is going to piss people off now the surge pricing would come I gather at busy times maybe lunchtime but if I know these people are trying to gouge me because it's lunchtime

and I know I can go across the street and get my regular priced burger somewhere else I was just thinking that I could be wrong I'm not so sure surge pricing on fast food is going to work

now that said if others join in then maybe, you know, and keep in mind, I missed the logic told you that I did not believe. Airlines charging for luggage would last because people would be pissed. So Mr. Logic was very wrong on that. I was like, there is no way people are going to pay for that. And for seats? Why would people pay for seats?

The airlines were right. I pay for better seats. I never checked my luggage, though. I think only once since they started, I had a check luggage. Twice. I do remember my golf clubs. So just letting you know, maybe Wendy's stock at a new yearly low, while other restaurant stocks in a new yearly high,

is because of decisions being made. Just a thought. By the way, I haven't been to a Wendy's in ages. The last time I was there, they wanted to charge me for a packet of barbecue sauce on my grilled chicken sandwich. And that kind of pissed me off, and I have not been back. You're charging me for a packet of barbecue sauce? And it may have been just the person in the drive-thru being stupid, I don't know. But just letting you know.

Just I had to bring that up because it really, is about the markets. Up next, market wrap. News of the day. Whatever else 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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Investment Advisory Services offered through call-bomb capital management. Hi, I'm Dr. Jake Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist, Victoria Motola, who explains why so many of us live with stomach issues, we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches.

Like I get a stomachache every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just have a stomachache every day. Or I'm constantly feeling like gassy. And all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication.

We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeart Radio. Listen now wherever you get your podcasts. Here's a quick podcast for all you true crime fans, the case of the missing Reese's. It was me at the store with me. mouth. Motive? Um, they're reeses. What was that going to do? Stop myself. Tune in next time to see if I do it again. Spoiler, I will. Wow. That had everything.

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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. Surge pricing on your burgers and fries. I'm not so sure.

Hmm. Next. We're doing markets. And then I'll whine and complain about Joe Biden went on a late night show last night. he's done no serious interviews with anybody else, including I. He couldn't last five minutes with me. And the guy he's running against wouldn't last five minutes with me either,

because neither can take the tough questions. We'll get to that in a little bit. What else do I want to cover? I'm just letting you know. Remember what we did with the NVIDIA. We told you on a Friday, We had leading up to that Friday, the 5th of January, we would talk about it. Oh, five months trading range.

Oh, five months in a week, five months in two weeks. On that Friday, we said to you, if it moves above 505-506, and we had no idea on that Monday, it would be the next day. And it did. I'm about to mention something to you. there's no certainty there's not 100% but it's certainly trying for ages it's been large caps versus small caps

and it may just stay that way large caps versus small caps and I got news for you my own investing has been large caps there has been no need to go underneath when you have a chance what I'd like you to do

tonight is go look at a chart of the Russell 2000. Now, first off, over the last two and a half, three weeks, it's been trading like a penny stock. Imagine an index going in three days from 1948 to 2052. This is 2,000 stocks, 1948 to 2052 in three days. What is that, 5% and change? the next day gap down back to 1950 on a bad inflation number in two days romp up to 2006 two thousand and sixty two in three days get smacked all the way down to 1960 nineteen eighty two we're talking three to five percent moves in a couple of days for an index

well in the last four days it's back up near what we call the tips you see back in December 27th, it hit 2072. On November, excuse me, February 12th, 2005. On November 15th, 2006 today, 2057, as I speak.

Then I want you, that's a daily chart, go to the weekly. And you can just simply look. A move above 2072 would be really good looking. If you want to know the ETF that coincides with that, it's the IWM, the move would be above

20550, 20550. A move above that, I would consider that a pretty freaking good looking breakout for the small cap index. Now notice, I didn't say, well, that's going to go and it's going to do better than the large. I didn't say that because maybe it's just the large caps are going to keep working and now the small caps are joining in. don't know. If it doesn't move above the range, there's nothing to do. If it does move above the range, well, you get to decide it's your money, kids. But you should be looking at it. That was the IWM. There is also something called the IWO, which is the Russell 2000 growth. That's already edging above the range. Go look at both. And then go look at it on a weekly not a daily and looks pretty freaking good.

Just letting you know. So that's the small caps. Next, and we've mentioned this in the last few days, just letting you know, we always tell you we think we're pretty good at identifying when a downtrend has potentially stopped not necessarily going into a great uptrend,

not necessarily here we go when we're off to the races, but hey, may want to watch this. Well, for a year and change, we've been saying to avoid China. And we still don't trust a freaking word coming out of China. A dictator is running the joint. Has interfered with businesses, but I think they got to the point where they realized they got to stop that crap.

And they've kind of untightened their rules and regs. They've put the screws to traders intimating, basically saying, you ain't selling at the open or the clothes and you want to go short sell, you're going to be dealing with us. So the main exchange traded fund for China is the FXI. In order to come out of that bearish phase, you have to break above the declining 50-day moving average. It's a must. That's the physicality. Now, it did it back in July for about a week or so, but then tucked its head in like a frightened turtle.

and that was the end of that. Well, we're just letting you know and we're going to use this verbiage definitively has the opportunity to come out of the bare phase. It needs to continue to hold the 50-day moving average,

which by the way now, instead of descending, is starting to flatten out. And part of coming out of a bearish phase, that physically has to happen. So we're starting to see, that. Trust remains very low because of who's running the joint. But we just wanted to let you know that China is perking up. And that's that. As always, we're not telling you to buy, sell shorter cover. We're just letting you know what we see, what we think. Go do some homework. China. I also have to mention now the biotechs moving out of range.

Go look at the XBI, which had this little breakout yesterday. It was up 5% today. Good news, but not the greatest news in that I'm seeing some pretty darn good speculation in there. I got this one symbol V KTX. No sales. They're only in phase two trials, and it was a good trial. stock was up 121% today to 85 bucks. Just letting you know I don't own any.

It's now got an $8.5 billion market cap with no sales. And by the way, has been public since 2015. Nine years without any sales. But very good move today and a big help to the index. Up next, more on the markets, as I promised. I'm Gary. This is the one only investor's edge. Hi, I'm Dr. Jake Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists to answer the health questions

you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist, Victoria Motola, who explains why so many of us live with stomach issues we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like, I get a stomachache every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just, I have a stomach egg every day. Or I'm constantly feeling like gassy.

And all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how good. gut health affects so much more than just your stomach on Beyond the Script, a podcast from

CVS Pharmacy and IHeart Radio. Listen now wherever you get your podcasts. Here's a quick podcast for all you true crime fans. The case of the missing Reese's. It was me at the store with my mouth. Motive? Um, they're Reese's. What was that going to do?

Stop myself. Tune in next time to see if I do it again. Spoiler, I will. Wow, that had everything. Rees, suspense, Reese's. Cash flow crunch? OnDak's small business line of credit gives your business immediate access to funds, up to $200,000, right when you need it.

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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. Hey yo. Boy, look at us with the market. What else? We've been telling you a lot about, man, those earnings stink. How the hell is that stock going up? We've been telling you a bunch of that. I think the poster child is Micron. You know, when your business drops in half sales-wise and you're losing tons of money, you're like, why is the stock gone from 60 to 90 in the last year?

Well, sales are starting to grow again, but they still lost. They crap load of money, but it's still going up. So we're like, huh? Lowe's. You know lows. Was up four bucks today on earnings. Back near the highs of July, the stock, just want to make sure of this, is trading where it was back in October of 21, two and a half years, and still off the highs of 260. sales were down 17%

a fourth deceleration in a row forget the earnings which were down 22% deceleration sales are muy importante just letting you know I'm still seeing a bunch of this now maybe the market's looking forward

hey earnings are going to get better sales are going to get better let me just state for the record they better get better Because if they don't, we're going to be left with seriously high valuations, kids. Next, Disney, they're raising prices again for the theme parks. Speaking of me being wrong again, I always thought when Disney started raising theme park prices above a hundred bucks could be a problem. Nope

Disney announced A single ticket Single park Which Where prices do fluctuate The small ticket Going from 109 to 119 10 bucks a piece

But keep in mind Some days are $150 More power to them And I got to tell you some The parks are just kicking arse here In central Florida they love the Mickey

They love the Mickey And by the way As I always tell you And I know there's been issues With DeSantis here in Florida Which I gotta tell you He went too far And let me tell you why

This is one of the greatest philanthropic corporations Ever Ever Disney The things they do for kids and children magnificent magnificent but you know

desantis did what he ought to do it's quieted down I believe at this point Disney lost there it's called the Reedy Creek District other people are involved I don't think it changes a lot and I still think there's some lawsuits

going on but business is still business and man those parks and most importantly at Disney Springs it's the place where they got these shopping and restaurants, they have Morimoto's. I love that restaurant. Should check it out. Anyway, that's a little Disney. I cross that out. I mention Apple. I mentioned China. I mention

the small caps. Do I need to do Carvana? Yeah, I'm going to do Carvana. Speaking of that, here's the funny thing today. So some company today comes out. with this huge report about how Carvana is bad with their accounting. And Carvana two days ago announced earnings. Let me give you their sales numbers the last four quarters for Carvana. Minus 25, minus 24, minus 18, and minus 15. In other words, business is headed south. We do want to keep in mind that this stock had a high of 376.

It closed today at 80. It's up 86% this week on a 15% drop in sales, a dollar loss on their earn on that quarter. And now a company comes out, and I read it and I got news for you. I'm no Einstein when it comes to the accounting. I mean, real in-depth accounting. And they were going back and forth. They say that Carvan is kind of like committing accounting. fraud, the stock still went up 15% today. Amazing to watch. We'll see how it plays out. I think part of that,

there is a, let me see how many days short. There is a 32 million share short out of 108 million in the float. I think that's part of what's going on also. So there's your Carvana. And there's your Dow finished down 96. Completely ignore. You got that? Completely ignore it. Why? Market was so much better underneath the surface.

Big time underneath the surface. No, no, no. Big time underneath the surface. The S&P was up 8, NASDAQ 59, NASDAQ 137. The Russell 2000 was up 1.4%. while the Dow was down 96, so the broad market's much better, small caps much better, completely ignored the Dow today. And do you know we were in a bare market?

We would say it the other way. Oh, the Dow was up 100, but the NASDAQ was down 180. Completely ignore the Dow Bing up. Well, you got the opposite today. And you had some auto zone, misses earnings numbers, lowers numbers. Stock was up 182 bucks today. Now, keep in mind, it's a $3,000. Stock was up 6.5%.

On a big breakout today, AutoZone. By the way, that's the place I go for my auto parts. I don't go to auto parts places. I just bring it in. Come on. Actually, twice I've been to an auto parts store in my life. You know what I usually get there? The bug stuff.

You know? Because here in Florida, you travel the Turnpike. Man, you get those bugs. And it's a pretty good store. They got everything there. And there's your auto zone. And now we segue because I don't blame Seth Myers. And the reason we talk about the people run the country is because never in our lifetime did we ever think they would interfere with us in ways they are interfering.

Never in our lifetime, $34 trillion of debt. Joe Biden has taken us from $4.4 trillion the year before COVID. Almost $7 trillion spending. The last 12 months, $2.7 trillion a debt. And Seth Myers kissed his butt last night. I watched it this morning. And I think Seth Myers is a terrific talent. He is so, when he was on SNL,

I don't watch any late night shows because I'm gone. I used to watch Carson because I love Carson so much. But these few I could take them or leave them, you know. and nothing again. I think Fallon is just genius. The man is incredible. And he said hi to me at

WrestleMania years ago. He actually said hi. Kimmel, what he used to do, The Man Show, and all of a sudden now he's Mr. Wonderful. He's funny as all hex. I got nothing against them. And I don't blame Seth Myers

for being nice to Joe Biden. But in case you don't know, I don't care what Joe Biden says about how great the economy is. He ain't the economy. We are. Here's Joe Biden's economy. 2.7 trillion in it to our debt in the last 12 months. Well, I'll give you good GDP also.

Came out with the Inflation Reduction Act and then announces there really was an inflation reduction in it. He lied. He admitted lying. He could call Trump a liar, but he admitted lying. in part he caused the inflation but as you know I believe it was more power than anything his foreign policy absolutely sucks he keeps talking how they care about women and women's health and women's this and women's that the women of Afghanistan are back in the dark ages now

the Taliban has kicked them in the teeth all because Joe Biden needed to get us out out, even though all we were doing, we're keeping the peace with just 2,500, left all our artillery there, billions of dollars worth. But that's okay. Up next, a little more on Biden. Then I'm going to tell you the questions we would have asked. I'm Gary.

This is the one known the Investors Ed. Hi, I'm Dr. Jake Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist Victoria Motola, who explains why so many of us live with stomach issues we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomach ache every time that I eat and it just becomes like a lifestyle where, oh yeah, you know, I just have a stomachache every day. Or I'm constantly feeling like gassy. And all of the

those things are not something that generally if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeartRadio. Listen now wherever you get your podcasts. Reese's peanut butter cups. They go perfectly with music. Podcasts.

And welcome back to the show. Even nature sounds. Oh, and the thing where someone crinkles tissue and whispers at you. Hello. Look, I'm not here to judge what you listen to. I'm here to judge you for not eating Reese's while you listen to it. Reeses. Ashley, go back to the nature sounds.

Nice. Yeah, that's really nice. On Deck is built to back small businesses. Like yours. Whether you're buying equipment, expanding your team, or bridging cash flow gaps, OnDEC's loans up to $400,000 help make it happen fast. Rated A-plus by the Better Business Bureau and earning thousands of five-star trust pilot reviews. OnDec delivers funding you can count on. Apply in minutes at ondac.com. Depending on certain loan attributes, your business loan may be issued by On-Dec or Celtic Bank. On-Dec does not lend in North Dakota. All loans and amount subject to lender

approval. 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. And then

the border, an absolute nightmare. So while Zeth Myers did his job, kissed his butt, they went into an ice cream shop. And I got to tell you, Biden's handlers are so stupid isn't even funny. He starts answering a question while he's holding a ice cream cone in his hand to his face about peace talks with Israel and Gaza.

Oh, God. Anyway, let me tell you the questions he did not ask because this is what I would ask, which means I would have to last two minutes before Joe Biden would be helped out of his seat and walked out. President Biden, the last 12 months because of your spending policy, added $2.7 trillion to our debt. Federal spending's up 55% since you took over. Do you not worry about the country's fiscal and financial well-being? Because those numbers are gargantuan records.

Next, President Biden, let me show you the immigration numbers, President Biden. And we want you to notice that within moments of you getting rid of President Trump's policies about staying in Mexico as well as others. There's been a sevenfold increase in border crossings. Did you also know families have died in the back of trucks? children have drowned crossing the Rio Grande. Children have been put in cages. Families have been separated, even though the media never reports any of that bad.

Can you explain why you blame everybody else when there is a direct correlation between your policies and what we are seeing? That would have been number two. President Biden, number three. Most Americans have been fine with helping out Ukraine, but the numbers are now over $100 billion. And I think a lot of Americans are saying,

wow, $100 billion, we wouldn't have any homeless. We can fix the grid. And every street road and bridge that you complain about with $100 billion. So all we ask, can you tell us exactly where that $100 billion has gone? What's it exactly for? Can you name exactly what it's for? And who the payments are going to. And we ask for the taxpayer because it is their dollars.

Number four, you admitted you lied about the Inflation Reduction Act. let me go to the tape on what you said. Well, we knew there was an inflation reduction in there, but can you explain why you complain about President Trump lying, but you did on this? That'd be the first four. Zeth Myers didn't ask any of that. The last question,

you gave $350 billion of our tax dollars to, Jean Podesta. For climate. Can you give us the top five things that money's being spent on right now? Oh, no, I can't. Well, who did you bring along with you that can? Well, the interview would have stopped after number one. But to be fair, the same thing would happen with Trump because my first question would

be, why do you keep saying you won the election? You're still saying it. when it's a known fact that you lost the election because a lot of Republicans and independents were pissed off at you. And we know this because of down ballots. There were a ton of people in the states that were very close that you lost that voted for every Republican on the ballot except for you. So why do you keep saying that you won the election? Well, you know I wouldn't last that question with President Trump. He'd be gone also.

And you know President Trump will not get in front of anybody that won't kiss his butt also. And that's the problem with our politics now. There's no tough questions. You had to meet the press woman, who everybody says is a star, had Gavin Newsom, the Governor California in this weekend, and didn't ask him about California, and its massive deficits, even though they're taxing their citizens to death.

They're taxing the citizens to death. Did not ask Gavin Newson about all the crime in the big cities. Not a one. I should have got into journalism. Then again, I don't think anybody would ever sit down and have an interview with me. And that's what they're all afraid of. You think any of the journalists asked Nancy Pelosi about San Francisco now? They don't.

ever. Why? Nancy won't speak to them anymore and she'll tell all the other politicians not speak to them anymore. In other words, these journalists are not holding the powerful to account. They're given us the middle finger as the citizens. And that is all. That would be my questions. That would be my one question to Trump for starters before I moved on. But it's a big question. Look what's happened. In case you don't know, the Republicans lost the Senate. Could not win the Senate even in the midterms. hardly won the house, lost the president. Donald Trump lost to Joe Biden in a presidential election. I got news for you.

A couch could have been beaten Biden in the election, but Trump pissed a lot of people off, and he's making the same mistakes again and again again now. Not learning from them. And our debt's going to go to $50 trillion, and then $100 trillion. You've been warned, and that is all. but the market's acting just fine and the small caps are coming on now.

And again, 205 and a half on the IWM, we'll see what happens. That all said, we covered a lot today, huh? You'll have a great evening drive carefully. When you get home, do like we do, quite simple. Make sure you hug your family. Make sure you hug your children. They will feel better. You will feel better.

I promise take care all. Not sure about TV tomorrow. Peace out. Bye-bye. This has been Investors' Edge with Gary Cult Bomb on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryKK.com. Struggling to see up close, make it visible with Viz.

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