Investor's Edge with Gary Kaltbaum - Smoking week in review [10.24.2025]

Episode Date: October 24, 2025

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Starting point is 00:00:26 That's Tommyjohn.com, code comfort. Tommy John. Comfort perfected. 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 of being with us today. Glad you're here, ladies and gentlemen, happy that you are listening. Friday, October 24th, 2025. Hope you're having a good day. Hope you have a good weekend. as always lots to cover. Serious talk on everything that affects you in the markets, the economy, your job, your industry,
Starting point is 00:01:09 everything that emanates out of Washington, D.C., and I got news for you. I'm not saying this as a compliment. I am not saying it as a put-down. This administration does not stop as far as its involvement. And let's hope they're getting it right. As you know, we are not in agreement with them taking positions and companies. The best way I can play poker with industries, and you may disagree with that description. And again, we're not using it as a put-down or a compliment.
Starting point is 00:01:56 We're stating it as an absolute fact that on a daily basis, we are 80. basis we are able to announce, oh, and now this one, and now that one, and now this one, and now that one, what industry are they going to leave alone? Anyway, 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 X feed. And if you don't follow us on X, you should. If you like to email us, just be nice. Well, by the way, we'll post it on the YouTube channel of Biz TV as well as other podcast apps.
Starting point is 00:02:38 And again, if you'd like to email me, just be nice. So what do I mean by that? So let's talk about some good. At least I think it's good. I think. You know, we've been telling you that the banks, you didn't have really good reactions in J.P. Morgan or Goldman Sachs. But the reactions in others better, Morgan Stanley. not bad, Wells Fargo not bad,
Starting point is 00:03:10 Bank American City Group kind of sorta. Well, the administration looks like they are relaxing banking regulations and maybe how much capital one needs to have.
Starting point is 00:03:34 Goldman Sachs up 33 today, by the way, and this is of import. Goldman Sachs up 33 That's 4.4%. I'm going to explain what I mean the second. JP Morgan up $5.90, only 2%.
Starting point is 00:03:54 But I just want to bring up before I give you the final numbers, Goldman Sachs being up 4.4%. Got that? I'm going to take out my Rusty Abacus and go 33.09 times 6.5, that was equal to 215 DAO points today. It's a DAO name,
Starting point is 00:04:24 equal to 200, you got that? 215 Dow points to the better today on Goldman Sachs. You got that, right? Okay. If, and I'm not even going to use the lowest price. I'm going to use Coca-Cola, and I'm going to round it off the 70 bucks times. That would be three bucks times 6.5. If Coca-Cola went up 4.4% today in the Dow, it'd be good for 20
Starting point is 00:05:07 Dow points. And that's why you've got to be very careful. When we measure the Dow, we recognize, we recognize that it's stupid how do you have a Verizon at $39 and Goldman Sachs at $780 Goldman Sachs is 20 times more important to the Dow so actually for the Dow it's good that it went up that much today was 215 Dow points but the story was that the administration is going to do something. That's what it was announced, and they were just off and running today. And they've been, I wouldn't call it weak. They just haven't been doing anything and drifting.
Starting point is 00:05:57 The regional banks were a little bit better too, and they've been on the weak side. But on the other end, let me read something to you. Representative Mark Alford, a Republican from Missouri, publicly broke with President Donald Trump during a Friday appearance on TV blasting. And when these journalists say blasting, I gather he didn't blast them. I gather he stated that the administration's new decision to dramatically examine, expand the imports of Argentine beef betrays American ranchers. And obviously he's from Missouri, this farms. These comments come as the White House made official this week.
Starting point is 00:06:52 The decision to allow approximately four times the current amount of Argentine beef to enter the U.S. annually as reduced tariffs. So all of a sudden, MAGA is make Argentina great. and that's not a reach on just this subject. And the reason the president's doing is because Argentina's got some problems and he loves this guy Malay who runs Argentina. But what does that do? It hurts the ranchers here.
Starting point is 00:07:29 It undercuts them completely. If the president says tariffs are the greatest thing, why is he cutting the tariffs on our? Argentine beef. That's because he wants more to come in here. That means there'll be less to pay here for that, which screws the farmers here. So all of a sudden we have news on the banks, but on beef also. And I'm just letting you know there's not a day that goes by because I'm not done.
Starting point is 00:08:08 today the latest and as you know there was announcements or a non-announcement or it was announcement about quantum computing beats the heck out of me well the latest is something to do with
Starting point is 00:08:33 and something to do with and something to do with I would call it mining of crypto that the administration is getting involved in also. And don't worry that his family is neck-deep involved with the mining of crypto. That was announced.
Starting point is 00:09:06 As I mentioned also, we're not even sure, but announcement on taking positions in quantum, no sales companies. So just letting you know, we hope it works out. We are rooting for them. But all you supposed conservative Republicans that like this, you're a bunch of hypocrites. If this was a lefty, you'd be pissed off. That government is getting their hands in all kinds of private industry and names.
Starting point is 00:09:53 And some other names of no sales. So that's going on today. But good day for the indices. We'll get to that in a little bit. Let me tell you what else is going on today. I was about as loud as anybody else on Obamacare when that came out. It was pretty simple. Barack Obama was lying to us.
Starting point is 00:10:20 It's not hard to figure out. that if you add millions of people to insurance, and then get rid of pre-existing conditions, and then tell America it will lower your premiums, it's bull crap. It's impossible. It's impossible. Yet the media ran with it, and he got it past.
Starting point is 00:10:53 And our premiums have scottial. rocketed since Obamacare came out to the point where everything now is to subsidy, to subsidize, to subsidize. Up next, we'll put a bow tie on that to subsidize. I'm Gary. This is the one only Investor's Edge. Hi, I'm Gary Kalpom, hosted a nationally syndicated radio show Investors Edge. We're not just handsome radio people.
Starting point is 00:11:40 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. We also provide a full range of personalized services, including retirement planning, fixed income, and educational needs, all to assist you in achieving your financial goals. Understanding not all individuals have the same needs, we'll carefully evaluate your personal goals to determine a proper investment strategy. If your current approach to investing is not getting you to where you would like to be, call us to make an appointment for a complementary portfolio review. The number to call is 888-4-2-5-59. That's 888-4-2-5-59. That's 8-5-59. That's 888-4-2-4-2-2-5-9. Investment Advisory Services offered
Starting point is 00:12:30 through Call Bomb Capital Management. 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 stretched 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 VentureX card. VentureX offers the
Starting point is 00:13:10 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.
Starting point is 00:13:34 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 Sprinker distributes it everywhere people listen.
Starting point is 00:14:03 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 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. 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. called bomb it doesn't get better than this so the marxist party is complaining about health care and subsidies if it was the affordable care act why do you need subsidies because they lied they're liars
Starting point is 00:15:07 and as we've said to you just go google the guy john gruber one of the architects that said the Obama's and the administration lied to get it passed, and the reason they were able to lie to the American public, because the American public is stupid. Just let you know. Why do I bring that up? Because the Washington Post, not exactly unfriendly to the Marxist Party, announces that ObamaCare premiums will be rising an average of 30 percent. sent just next year. Barack Obama, who got the Nobel Peace Prize just as he got into the White House, which treated with kid gloves and just won another great liar from the White House. Oh, by the way, he deported millions. He's the king of deportation. That the media never said a word, and nobody protested. I just had to let you know all this.
Starting point is 00:16:15 So there's a lot of jello moving on the plate. Obamacare premiums next year, 30% higher. How can that be? It's called the Affordable Care Act. How can that be? Oh, it'd be. And speaking of the Marxist Party, and this is off the beaten path,
Starting point is 00:16:41 just want to let you know. Hakeem Jeffries, what is he the, leader of the House for the Marxist party is endorsing a racist, Jew-hating, anti-Semitic, Israel-hating, D-O-L-T, you can go look up the word. He's endorsing this guy who's running for mayor of New York City. And you know when they say this cliche, believe them when they say it? well, this next mayor of New York City is a history of anti-Semitic Jew-hating racism. He's now backing away from all of it, even though there's dozens of examples. But the adult part is he's a communist, and he thinks he's smart enough to run supermarkets in New York City
Starting point is 00:17:47 and control prices of housing there and thinks buses should be free imagine the winter who's going to show up on those free buses and I can go on and on and then he said all this that and the other thing's going to be free and while he's on debate he says oh we're going to raise five billion here and four billion here and the idiots that are
Starting point is 00:18:14 his competition for mayor didn't look him in say, so it's not free. You just said it cost $9 billion. It was like the flu, a bad flu versus the pneumonia in debates. So good luck, New York City. The good news is he's not going to get tax hikes in. He's not going to be able to pay for his stupidity. My only, my biggest worry, not only, he's going to give license to the Jew haters to stay Jew hating, where if I ran the place There's no, you want to be a racist? Get the hell out of my city. Against anybody.
Starting point is 00:18:57 Racism against blacks? Get out. Sikhs get out. Jews get out. Christians get out. You commit crime? See ya. By the way, this mayor wants to shut down some jails.
Starting point is 00:19:11 Now he's all for the police. The police are no longer racist, which he said. Thugs, which he said, amongst us. other things. So that's as an aside I had to bring that up to you today because it does matter. This is New York City. Mui and Portante as we move forward. And it begs the question, what the hell is the matter with these voters? Because sometimes you have all this evidence of these stupid policies in cities like San Francisco, Oakland, New York, Chicago, Portland, where they're Coddling the criminals.
Starting point is 00:19:57 What else? The drug addicts? Yeah, let's let's let them roam the streets. Yeah, that should work. Anyway, you get my point, and I thought that was worth mentioning. So just wanted to start out with a little bit of, I believe it's too much of the president and this administration in business, but it's not going to stop.
Starting point is 00:20:15 And let's hope they get it right. The farmers are pissed. And what will end up happening is, and by the way, the president was mad at the farmers this week. He was like, I wouldn't know put him down, but he was embattled with them this week because the farmers are upset. I think the president said he's the best president farmers have ever had. Okay. Terrific.
Starting point is 00:20:40 We'll see how it plays out. We will stay on top of it for you, which takes us to the next part of the equation. I had Justin Herbert last night in my fantasy league. He had three touchdowns, so it was a good night. But Keenan Allen, my wide receiver, didn't do too much. He didn't catch any of the touchdowns. So that was my fantasy league thing, Bob. The World Series starts tonight.
Starting point is 00:21:07 This is the sports part of the show. And, you know, I never give out World Series picks. I give out Super Bowl picks. I do NCAAs, and we're really good at it. So I'm not that great. baseball, but I got to tell you something. I'm a big believer in Mo. You know, Mo is, right? Mo Mo. Dodgers looks just so good. Nothing against Toronto, but Dodgers just looks so good. Anyway, just letting you know. As far as this basketball thing that's going on, if they are guilty,
Starting point is 00:21:44 what a bunch of schmocks. One of the guys is made. making like 26 million a year and this is what he's doing the coach of Portland he's I think he's worth like a hundred million and that's what he so I'm hoping they didn't I do know this guy who fixed the basketball game you could just tell he did so that's another story but wow talk about pissing on prosperity if they did that you know that's one of these rules I have When things are good, don't wee-wee on them. Did I say that other word? Sorry.
Starting point is 00:22:28 If they did this, what kind of morons are you? Seriously. Did you do it for money or popularity? It's so weird. What it Warren Buffett's line was? It takes a lifetime to build a reputation and like a minute to blow the whole thing up. Look at this. Up next, I promised the markets, and it was a good day.
Starting point is 00:23:04 With a little warped, this is the one only investor's edge. 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-drop 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.
Starting point is 00:23:51 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 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.
Starting point is 00:24:18 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 Sprecker. The platform responsible for a rapidly spreading condition known as podcast brain.
Starting point is 00:24:37 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 cousins 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.
Starting point is 00:25:13 Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it. We'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.
Starting point is 00:25:37 You're going to feel better if you talk to him. And what once again to Investor's Edge. By the way, I don't know about you, but are you guys in the last 90s? days getting like dozens and dozens of spam calls. I think I'm averaging 10 a day. Every now and then I'll answer one. And it's so weird. Somebody gets on the phone and it's a robot talking and you start answering them and it just keeps talking. Do they actually think somebody's going to do business with that? And then I got these people who want to lend me all kinds of money. We're going to give you this and give you that.
Starting point is 00:26:28 Why? Well, you made our list. Oh, terrific. Thanks so much. Let's see how many I got today. You ready? 11. 11.
Starting point is 00:26:44 And from every city. Some of them just say United States. What the heck is going on out there? Okay. So, IBM. announces quantum. IBM yesterday opened up at 263 and change on earnings, closed at 285 and was still down $3.00. It was down $25 on the earnings, something the market didn't like, and then all of a sudden quantum this and makes the announcement today. It was up another $22.5 today to a new high.
Starting point is 00:27:29 IBM went from 263 to 307 from yesterday's Open. So you know what that has me doing? 286 down points for IBM from yesterday's Open. You know what else that has me doing? 22.46 plus 33.1 times 6.5. Goldman Sachs and IBM with 361 of the 472 Dow points. Now you know us, we believe everything counts. But man, IBM gap down on the most important part of the equation earnings and is rallying
Starting point is 00:28:21 up on, hey, we're going to have some quantum. And we're not here to stop on quantum. we're just saying, wow. And again, Goldman moved, so did the other banks, on supposed relaxing of regulations or capital standards, whether or not that gets done or not, I don't know, but I'm pretty sure it does because, you know, this administration is very strong on fewer and less stringent
Starting point is 00:28:51 or onerous regulations. And you know we're all for that. We think we're ridiculously over-regulated. I'm clicking right now. Federal Register pages. How many Federal Register pages? 95, oh wait, 2024, 107, 262 pages in the Federal Register Register. I am not making this up.
Starting point is 00:29:36 I'm not making this up. You know what that is? Let me read this to you. The Federal Register is the daily publication, official daily publication of the U.S. government that announces, get this, proposed and final rules, public notices, and official information from federal agencies,
Starting point is 00:30:01 100 and some odd thousand, proposed interim and final rules from government agencies which also amend the code of federal regulations, the CFR, executive orders, proclamations, and other actions by president, public announcements from federal agencies, including hearings, meetings, and discussions, or decisions. You think we're overly regulated? Our forefathers are turning over in the grave
Starting point is 00:30:32 what's been going on and how we're letting it happen. Think about that. And we're 38 trillion. of debt now. Think about that. So just letting you know. Good day for the semis announcements. Good day for the artificial intelligence announcements. I mean, they came in into the data storage data centers again today. They also bought into, I'm going to give you one symbol, F-I-X, up 156 bucks today. They provide heating, ventilation, and air conditioning.
Starting point is 00:31:26 I think they do a lot of government work. And I think there's a lot of maybe data centers going forward. I'm going to have to do a little work on us, on this. But that's basically the story. God bless it, man. A strong stock. mechanical, they describe themselves mechanical, electrical, and plumbing building systems. Wow. Good on them. And what did that do for that group? Symbol E-M-E, P-W-R-S-T-R-L, P, all those names.
Starting point is 00:32:05 Very strong day after getting squashed in the last couple of days. Absolutely squashed the last couple of days. What else? Ford breaks to a new yearly high. That's on top of GM recently. While Ferrari crashed. What's that about? That was a good day today. The semiconductors, I mentioned to you, IBM and Quantum, the announcement was with advanced micro devices. AMD was up 6% today. And then the froth. Remember, the froth was coming off. they bounced today. Not everything, but they bounced.
Starting point is 00:32:59 And one of the things that bounced, as I mentioned, the administration and Bitcoin mining, so they were back up pretty decently. Gold, we think there's time and price now. And what that simply means is had this big run, a big one-day drop, usually puts the high in for what we call the time being. which was probably weeks of backing and filling.
Starting point is 00:33:28 But good day. Not going to throw any cold water. Wrong. We're just letting you know. You know how we've been telling you this area, that area, this area, that area. There's still plenty of areas to avoid. So very narrow. But that's okay.
Starting point is 00:33:53 You know where the strength is. but we're going to see if this good strong day for the banks, which is a comeback, not a breakout, but a comeback can get moving even better. Get moving even better. Because if they can get going again, that'll help the market. The big indices edged into new high ground. We told you this yesterday. if they can break above the last few weeks, considering we had a threat of tariffs again.
Starting point is 00:34:32 Oh, and overnight, the president is stopping the trade talks with Canada because he's mad that Canada put out some ad about Ronald Reagan and... Some of this crap is exhausting, ladies and gentlemen. But I repeat, I'm rooting for him. I hope they get it right. even if I met with them they wouldn't listen to me about back and away and let things be
Starting point is 00:35:01 they think they know what they're doing I'm not saying they don't but I very much worry I very much worry we are running down a path that the Marxists when they take over look out kids
Starting point is 00:35:22 I can't imagine what the Marxists are going to do with tariffs I can't imagine what the Marxists are going to do with tariffs and executive orders. That's another thing that should be banished. Up next, more on the markets. Whatever else, this is the one to only investors' edge. It's no use putting it off.
Starting point is 00:36:26 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.
Starting point is 00:36:53 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.
Starting point is 00:37:20 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 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.
Starting point is 00:37:46 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 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.
Starting point is 00:38:17 You're listening to. What are we waiting for? Well, what are you waiting for? One, two, ready, go. Action! In The Wester's Edge. With Gary Culper. Dun-da-da.
Starting point is 00:38:46 Where I love the president is that, Now the anti-Semitic Jew-Hating provost of Northwestern University is finally stepped down. Just another Jew-hating anti-Semite. And I guess they all like to be at colleges. Do you remember those three presidents of Ivy League colleges up on Capitol Hill? And the simple question was asked about, do you, do you, do you, Do you believe? And I'm paraphrasing, it is troublesome when students are being threatened by others on campus with death and death to Israel and Jews.
Starting point is 00:39:47 And they answered depends what context. That was their answers. And I still remember, I think it was Stephanic, who by the way is probably going to be the next governor, York. hopefully she does a great job if she wins. And she said, let me try to ask that question again. And they got a chance to even think over the answer. And they came back again and said, depends on the context. Jews being threatened, Jewish students on campus being threatened with death and death of other Jews and Israel.
Starting point is 00:40:32 and being accosted and being detained, which is, by the way, a felony and not be let into their classrooms of the library. And the janitors sued the college. I think they won, or it was settled. The janitors were held, and the presidents were asked. It depends on the context. Anyway, another one bites the dust.
Starting point is 00:41:08 And it should be so simple. Just be kind. And treat everybody with kindness. That's all. Shouldn't be hard. And running a college, number one rule? Hey, protect those students. What a concept.
Starting point is 00:41:36 Protect those students. Huh. Anyway, that's a little bit of news of that day too. Anyway, big indices edged above range. If they stick, we are going higher. There's always an if. I can tell you we're being told and it's true. We're entering the sweet spot end of the year,
Starting point is 00:42:01 which is supposedly good for markets. We shall see. We'll still play it day by day. What does the market have going for it? Number one, you have yields below 4% on the 10 year. I believe mortgage rates have gone from 7. I think they're 6-1 right now. Oil prices, though, had a rough day yesterday.
Starting point is 00:42:25 Not so sure they're going to stay up. That has to do with the Russia sanctions. But pretty much they've been cooperative for a while. Earnings have been pretty good. I'm hearing productivity gains have been pretty good. That's always good to see. And you know what else? The hard work, the passion, the intensity, the smarts of the great American people,
Starting point is 00:42:57 getting up every morning trying to do better for themselves and their families. That's what's going on. You have fabulous technological breakthroughs and medical advancements. I'm being asked often right now, do you think AI is going to hurt jobs? I do believe so, and I do believe it's going to create jobs also. I heard what was it Amazon saying over the next few years are going to be less jobs because of AI. I think that's going to happen. So you better make yourself not disobeyed.
Starting point is 00:43:38 at whatever you do if you're working for somebody. Make yourself the smartest, hardest, hardest working person there and make it known without patting yourself too much on the back. I think that's going on. Do I worry about bubbles? Hell yeah. And as we have described for you, the bubbles in quantum and nuclear and drones and robots,
Starting point is 00:44:07 in robotaxies and rare earth, the moves on no sales things, they're going to blow up in a bare market. They're Teflon in a bullish market. And of course, a bunch of them just dropped 30 to 60 percent in the last 10 business days, though bounced up off of some government news in the last couple of days. I do worry about that. do I worry about valuations? Valuations are in the trees now.
Starting point is 00:44:43 By some measures, 1999-2000-ish. By some measures. The Buffett indicator in the trees. Will it eventually matter? Typically, yes. Do I know when eventually is? Not a clue. But you can't hide bare markets.
Starting point is 00:45:07 And as you know for a very long time, we have been able to identify them for you. We don't have one right now. We have bare markets in areas. The payroll stocks. A lot of the retail. A lot of the managed care. Big biotech. Truckers.
Starting point is 00:45:31 I wouldn't call housing bare markets. Just downtrends. Alcohol stocks. Guess what we do with them? We just avoid. And if anything changes with them, we let you know. And if they ever start getting the big indices, you'll hear from us. But amazingly, that 50-day moving average has held for the big indices since April, end of April,
Starting point is 00:46:04 and we'll see where it decides to take us. That all said, you have a great weekend. Drive carefully. When you get home, do like we do, it's quite simple. Make sure you hug your family. Make sure you hug your children. They will feel better. You will feel better.
Starting point is 00:46:18 I promise they will be well. Hey, Winston just walked in. Take care all. Good night. This has been Investor's Edge with Gary Cult Bomb on BizTalk. To listen to past episodes or to get in contact with Gary, go to garyk.com. That's GaryK.com. Guys, it's no use putting it off.
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