Investor's Edge with Gary Kaltbaum - Speculation already? [11.29.2023]
Episode Date: November 29, 2023https://garykaltbaum.com/...
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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 Colbom, your host.
A thanks for being with us today.
Glad you here, ladies and gentlemen, happy that you are listening.
It is November 29th, Wednesday, 2003.
Hope you're having a good day.
we have always lots to cover lots to discuss lots to do in case you don't know this is serious talk about everything that affects you
your jobs the markets the economy geopolitics and everything else under the sun because it all gets intertwined ladies and gentlemen
we do it without any bias without any agenda without any ulterior motive we try to inject a little bit of comedy with our
But we have no comedy right now for obvious reasons.
And as you know, we've been starting the show talking about the Middle East.
And basically, a lot of the talk is, wow, what the hell's going on?
Israel was attacked by animals on October 7th.
And there were people protesting against Israel on October 7th.
and they're protesting today.
And yesterday, these depraved morons, and I would guarantee you if you asked, just so you know,
they're not protesting for Palestinians.
They're just protesting.
None of these people know where Israel is on a map or Gaza.
Nobody knows what river and what sea they're talking about.
They don't know.
None of them protests Russia.
You know, Russia bombed the hell out of Ukraine last night and the night before.
No protests.
Syria murdered millions with chemical weapons.
No protests.
the Sudan, Haiti, Cuba, the Castro, and what they've done to the people there. No protests.
Nothing. But it's the Jews. And somehow, it's still out there. Don't ask me why.
But we're getting indications of why. So I'm going to present to you one thing that happened.
in the last day, that I urge you to go check it out. You see, CNN, a woman on CNN, Bianca
Golodra, I don't know how to pronounce her name. She interviewed a woman from the United Nations.
Now, you know, we don't suffer any fools at the United Nations. They have shown to be anti-Israel,
anti-Jew, anti-Semitic.
They have gone against Israel hundreds of times through the years, and never on North Korea or Russia.
They put these, whatever you call them.
So the simple question was asked of the UN on live TV.
Why don't you, why don't you say something about Hamas?
Why don't you blast Hamas for what they did?
And by the way, this woman was from the United Nations women's part, whatever that means.
Why don't you rip Hamas?
Why don't you sanction Hamas?
And basically, here's the comedic, sarcastic answer from the woman.
Well, you know, the, that,
ventricular activity does not equal the modification of the rectification of the women evasion of the concern of us as we meet with concern.
And you know, kind of sort of you know when we try to be even handed and we're thinking about, you know,
Einstein's theory of relativity.
and just in case A.E. does not equal 6.425.
So the anchor then says again, but why don't you condemn Hamas?
And then she went at it again.
Well, you know, if you take bookshelves that are not together and then put them together,
and you stack them up one by one to the top.
That's what we'll do.
And we'll sit down and we'll have a meeting.
We'll line up the books and we'll talk about women.
And you've got to understand how the UN works.
And you know, kind of sort of you know.
And I'm waiting for the anchor to say,
hey, ass clown,
are you going to condemn Hamas for murdering and raping women or not?
But she couldn't.
She's got to be professional.
That's what we're dealing with here.
That's the reason why these idiots are protesting,
and they don't even know what they're protesting.
They really don't.
I promise you, 99% don't even have a freaking clue.
But they hear the UN.
And the Human Rights Watch, which is another joke of a place,
and all these other outlets,
And all I can tell you is my life experiences and the many times I have been to Israel.
And all I can tell you when I see gays for Hamas, if the gays walked into Gaza and put up a sign and said, I am gay, they will hang you and string you up and cut you legs off.
so be for Hamas
when I see all this
you sit in wonderment
and I go back to my line
tick-tac-toe
you can't win the game
so don't even play it
and that's what it's come down to
I vote
when I was in New York I was thinking
what would I say to somebody
if I caught them pulling down a poster
of one of the kidnapped people
and I look at these videos
of others doing that
and they're laughed at.
They're laughed at.
And I'm thinking to myself, could I actually try and reason with them?
And the answer is no.
So sheer insanity, why do I bring up the UN?
What the hell does that have to do with you?
The markets, the economy, jobs.
Do you know much influence these nut jobs have?
Gargantuan!
They're driving to the hoop on your wallets every day.
with the latest big gigantic hoax of climate.
Yeah.
You see, we can stop the hurricanes
and the tornadoes and the winds and the rain.
Didn't you know that?
Anyway, we'll keep covering it.
More hostages were let go.
I use that term.
and for the life of me
some people are on Twitter and
Instagram saying
look how these hostages look like they're happy
as they are
with the
Hamas letting them go
it seems like they were treated well
and you just want to grab those people
that are putting that out there
and then tick-tac-toe
what are you going to do
what are you going to do
tick, tack, toe.
And this goes for any racism whatsoever.
Any and all.
We have told you under no uncertain terms, race, creed, color, gender, height, weight.
We don't give a crap.
We look at everybody the same way.
And we're always amazed at others that don't.
I saw this Nazi was interviewed and he was asked, so if you had a heart attack and the only person that can save you is Jewish, would you want him to save you?
No.
Terrific.
This is how crazy it is.
It's so weird to watch.
It really is.
The good news is, and I mean this, I really do believe that the high.
90s of us are not these nuts.
They're just louder than us because they have no lives and they got nothing to do but
protest things they have no nothing about.
And that is all.
We segue.
Up next.
GameStop.
And more.
I'm Gary.
This is the one only Investors Edge.
Hi, I'm Gary Kalbaum.
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With Gary Coltbaum.
It doesn't get better than this.
Isn't interesting how I can go from Hamas to GameStop?
So, okay.
As you know, on November 1st, on this show, we said to you,
We're never 100% sure, but we do know today had the makings of a turn in the market.
As you know from July to end of October, we were bearish as all heck.
Every day we were talking about the horrible advanced declines, a thousand new yearly lows,
the Russell 2000 at bare market lows, the advanced declines,
the NASDAQ versus the NASDAQ, which was led by seven to 10 names.
But on November 1st, we said to you, we think there's a chance the market has turned here,
and it was based on some things we saw, A, that day.
But we really did think there was a top in yields.
the dollar that goes along with yields when they go down,
and oil prices.
And since we've had a rally.
And what's happened is we've had leadership
and what we mean by leadership,
the stocks that held up best and broke out new yearly highs
and are moving higher.
And then you have the rest of the market,
which was dead in the world,
water rallying up off their lows. In other words, the floor was lifted up and whether it was
the airlines that got destroyed and so many other areas, they've all rallied to a certain extent,
some more than others. Some have rallied a lot. There's been some financial stocks that have
really come up strong, others less so. So there's been differing levels of this rally. And while
we're rallying, as we always tell you, if anything we do, if we're wrong, we're going to be
wrong fast and small. If we're right, we're going to ride them up as much as we can. Without naming
names, we've got, you know, 45, 50 bucks in one name we bought, 11, 12%, and another one we bought
six, seven days ago, we don't want to name names because we, you know, they're extended and stuff.
And then today I sold a big name with $4 profit on the $300 bucks because I thought it was
topping out.
You never know.
And we have no idea what happens tomorrow.
and the fact is we've had some really good reaction to earnings.
Today, CrowdStrike up 22, workday up 28.
In the aftermarket, salesforce.com is up $13.
Snowflake is up $12 in the end.
These are all software stocks.
So a bunch of these software names pretty darn strong.
Financials had a good day today, though off the early highs.
And guess what also happened today?
The 10-year yield down to 4.27, down another 0.65 today.
But one thing really stuck out for me.
And that's GameStop.
What?
Game Stop?
That thing?
So let me do some spaining.
Froth and speculation by the maddening crowd.
worries the hell out of me.
It does not mean the market's going to get in trouble.
It does not mean we're going to top out.
What it does mean on the sentiment front
that after a few weeks of rally,
the speculators are at it.
Just so you know, nothing has changed in the company GameStop.
yesterday at the open it was $11.89.1191. It hits 1756 today closing at 16 the quarter.
Up 20% today after being up 14% yesterday on gargantuan volume. 60 million shares, average daily volumes, 3 million.
There's still an 18-day short times 60 million share short in a float of 265 million.
During the bare market of 21, we had counter-trend rallies, and every top in those counter-tren rallies came with, guess what?
froth and speculation by the maddening crowd jumping on each other
now we were in a real real gross bear market at the time
so it was easy to send the market down
it won't be easy to send the market down now we think the market's in decent shape right now
most everything and when we say decent shape
it's built up enough decent technical action
to where we'd have to see
a series of bad days to top out the market.
We're just letting you know they were game-stopping again the last two days.
AMC, the theater thing, they rallied that up 7% today.
A bunch of hunks of junk that I call them bouncing.
Just put it in your file manner.
and we'll go from there.
But good action in financials, good action, a lot of software names.
They did sell off a few things in big tech today.
Nothing bad.
Yesterday, economically sensitive stocks were getting trashed.
They gapped up today.
Some retail acting pretty decently.
So in no way, shape, or form, can I come to you today and say, oh, now we're in big
trouble. Of course we can pull back, and the fact is we had a hot open today and finished
not so great, at least for the big indices, we're just letting you know, GameStop. We hope
not to see more. Up next, the numbers. I'm Gary. This is the one only investors' 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.
They're 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.
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Terms apply. Lounge access is subject to change. See Capital One.com for details. This episode is brought to you by Spreaker.
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you're probably already a podcaster. The good news is Spreaker makes the whole process
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We're listening to America is talking.
Investor's 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.
feel better if you talk to.
And walk once again to Investors Edge.
Do you understand where I'm coming from?
Just letting you know everything we do here comes from the study, arduous, in-depth study,
of the characteristics of bullish and bearish markets.
Included in that are what are the characteristics.
of the biggest winners every year?
What are the characteristics of the biggest losers every year?
What do markets look like when they're topping out?
What do markets look like when they're bottoming?
What typically happens when sentiment goes to extreme bullish or bearish?
What does central bank moves have to do with the market, unfortunately?
what's the easiest way to scan for these things that's what this is all about it's everything we do every day
and of course when wrong be wrong fast and be wrong small and when right try to let them run
as far as the eyes can see and as i've stated for you that's the toughest part the
toughest part is the holding. That's the toughest part. Because if you're going to hold stocks
that go up 100, 200%, or more, you're going to have to live through 20% corrections on those
moves up. It's a pain in the rear. That's the hard part. And when you have intermittent,
bearish phases and drawdowns and craziness.
I mean, hell, I mean, we've got to deal with all kinds of nut jobs in D.C.
You know, Biden's doing today?
He's out there telling you how great Bidenomics is.
Yes.
GDP, we're told it was 5%.
Bidenomics.
Do you think he's going to mention on purpose?
a $2 trillion deficit, breaking records, which by the way goes towards GDP,
do you think he's going to mention that credit card usage is at a record?
Defaults are picking up markedly?
You think he's going to tell you that the little bag of Hershey's little chocolates that were 1099,
two years ago, and now 1599?
hell no
he's going to tell you about a government statistic
yay
that's what we deal with
government statistics
you know what they've done with government statistics
the last 25 years
by the way we're not making this up
they change the formula
on inflation to make it lower
and they change the formula on GDP
to make it higher
now why would they do that
because there are a bunch of scammers and con artists, every one of them.
You know, welcome to my world.
I got an email.
Don't ask me how I go.
Oh, excuse me, it was on my Twitter feed.
Ilhan Omar, will I donate to her campaign?
Somehow it hit me.
Ilhan Omar's campaign paid her husband's company $3 million.
Corruption, but she needs our money.
Pure corruption.
Should go to jail for that.
But in Washington, completely legal.
And you know why nobody says a word?
Because the rest of them are doing it also.
That's what we're dealing with.
Yay.
So, a little bit specifics.
In the aftermarket, Salesforce.com is up $16 in the aftermarket,
on their numbers, I got to look them over.
This is a Dow stock.
That'll be about
100 Dow points
for Tamar.
And it's also in that strong
software group. That's quite interesting.
We'll be watching to see how that
goes. Today,
company called Workday,
that was up $26 today
on their earnings, which
looked pretty darn good, and that broke
above range. It did hit
270, close the 263,
and we're going to watch it for secondary buy points.
Network appliance and TAP.
That gapped up.
Breakout, breakaway gap.
Only one problem.
Sales down 6%.
What the hell do I want to buy that for?
Crowdstrike.
I was down five bucks in the aftermarket last night,
but opened up like eight bucks today and finished up 22.
Good earnings.
Going on watch.
And that's how we roll.
I got a little snowflake also, which closed at 175.
I got it 186.
We'll see how that opens tomorrow.
That's where we find our names.
What companies react well to earnings and get going.
That's what we're looking for.
And all these names I have mentioned, except for network appliance, which sales are down, have strong earnings, strong revenue growth.
And that's what, as we tell you, what we've studied, history of the markets, what characteristics do the winners have?
Strong earnings and sales growth.
The stronger, the better and the longer the better.
Longer meaning duration.
Time.
So software winning the day this second.
We'll see how long it lasts.
Now, on the day, though, I do want to mention the NASDAQ was down 23 today.
And I bring that up to, which is no big deal, but I do bring it up because it did hit 14-423.
It closed at 14258.
Last eye looked, it's 165 points off the highs.
Little distribution.
Salesforce.com should help it early tomorrow morning.
Just letting you know.
The Dow today was only up 13 points, but we're not.
One time today, the Dow was up about 130.
Little distribution.
That said, advanced declines was 27 to 13 on the New York and 25 to 17 on the NASDAQ.
Approximates.
So advanced declines were pretty good.
And a lot of the tech was in good shape and financials.
Some of the big tech came in.
Facebook was down almost seven.
Adobe down a few.
Microsoft was down three.
And video was up nine early, finished only up three.
So a little rough day for some of the mega caps and we'll see what tomorrow brings.
But overall, not a biggie.
Again, tomorrow's another day.
And I gather a little bit of help from that Salesforce.com in the morning.
Dow futures, yeah, we're up 90.
That's all Salesforce.com.
CRM is the symbol.
And of course, that can change overnight.
We'll see what the comments.
conference call. Anyway, we're giving you an understanding how we kind of do things, how we look at things.
And of course, the usual close our eyes, hold our nose and pray, which doesn't work.
The areas that are, we're considered to be on the bare side, oils, and you can add managed care into the HMOs.
They're rolling over badly, and a bunch of China names real bad, but then there's some China names that are real good, mixed bag there.
And the consumer staples still suck.
Just the food, drug, beverage, tobacco, household products, yikes.
And Hershey's, if you want to know what a bare market stock looks like,
go get a chart of Hershey's and make sure you have the 50-day moving average on the chart.
That is what a bear market looks and acts like.
Hershey's. Up next.
This, that, and the other thing or whatever else.
Thanks for being here. I'm Gary. This is the one only investor's ed.
Guys, it's no use putting it off. The best time for an underwear refresh is now.
Tommy John underwear is designed for a perfect fit that stays put all day.
Their zero-chafe thanks to four times more stretch than competing brands.
And their innovative horizontal quick-draw fly is a game changer.
With over 30 million pairs sold, there are thousands of men out there more comfortable than you.
Don't settle for less. Go to Tommyjohn.com today for 25% off your first order with
code comfort. That's Tommyjohn.com code comfort. Tommy John. Comfort perfected.
This message is brought to you by the Capital One Venture X card. Venture X offers the premium
benefits you expect, like a $300 annual Capital One travel credit for less than you expect.
Elevate your earn with unlimited double miles on every purchase, bringing you one step closer
to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card,
What's in your wallet? Terms apply. Lounge access is subject to change. See Capital One.com for details.
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 swears are the next big thing.
Even better, Spreaker helps you monetize your show with ads,
meaning your podcast might someday pay for, well, more microphones.
Start your show today at spreeker.com.
Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it.
You're listening to.
What are we waiting for?
What are you waiting for?
One, two, ready, go.
In the Gester's Edge.
With Gary Culpa.
What's today, Wednesday?
So I went to New York.
My wife got COVID.
And then my son got COVID.
I hung around them both during that time.
I never got COVID.
I'm back in Florida, doing my thing.
Amazing how that thing works.
The good news is, it's like not even a bad flu.
It's kind of like flu symptoms.
And you just don't, you know, you just want to curl up.
News that interests me.
I was thinking about this.
You know that Red Lobster, which is not public at this juncture,
the chief financial officer,
they just took a $11 million third quarter loss.
and they blame their endless shrimp campaign.
I had no idea because I love shrimp.
Anyway, it allows customers to order as much shrimp as they want for just 20 bucks.
I wish I knew that.
And you can get the different kind.
You can get the breaded shrimp, the spicy, you know.
Damn, I wish I knew.
I didn't know about it.
anyway people eat a lot of shrimp so what do they do they don't get rid of the promotion they raised it to
$25 I'm not so sure that's going to help you know what the problem which shrimp is you can eat like
a hundred of them they got the chili shrimp the coconut shrimp shrimp shrimp shrimp linguine alfredo
skewers and the garlic shrimp.
Shrimp and stone crabs for me.
You can put a hundred of them down. I'll eat them all.
And I'm a stone crab nut.
Anyway, got to count your shrimp, red lobster.
I don't think, I think 25 bucks is still not going to help.
You know, when I used to travel to do radio, I don't anymore.
They have a golden corral restaurant on the way to the studio.
and maybe once a week I used to stop by there.
And man, oh man, you just got to run out or else.
How much food you can eat if you really have one of those people with a bottomless pit.
And I got to tell you, I saw some people in there down a ton of food.
They must be losing money on them.
In the news, this really interested me.
So as you know, I'm a crappy golfer.
I've had good golfing.
You know, I've shot in the high 70s.
I'm average like the, when I play, I can shoot mid to high 80s, but typically around 90.
But if I practice, I'd be real good.
Even the fish man says it.
But I watch golf.
I've been to the Masters a few times.
Bay Hill here. John Rom, one of the great golfers of the world, turned down an offer from the
Saudi Arabia golf of 300 million. They came back at 600 million. Haven't heard anything yet.
Is he nuts? Take the 600 million. It's not forever. I think it's for a few years. I mean,
Holy crap.
600 million.
I just thought that, wow.
How much money is Saudi Arabia losing to have this?
And I guess they have a bottomless pit.
600 million bucks for a golfer.
They paid that cam guy who won the British Open $100 million.
I think Mickelson got $250 million.
God bless them.
I'm in the wrong business, man.
You see what they're paying base?
baseball players and basketball? Oh my gosh.
If Michael Jordan played today, they just give them the team ownership.
Amazing. Amazing. Amazing. What else interested me?
You know, they're putting, they're trying to scare you. Regional banks,
Comerica, First Horizon, Zion's National, the greatest risk of being acquired by larger rivals.
analysts warn.
Wait a minute.
Worn?
If I owned Comerica of First Horizon and Zions
and it got taken over by a large rival,
I'd be happy.
Worn.
It says an industry faces shakeup following the collapse of Silicon Valley Bank.
I got news for you.
We used to have a million banks.
Now you got less than a million.
And that's going to continue.
And they're shutting down bank offices.
less tellers, more machines, that's just going to continue.
If any area of the world is going to keep consolidating, it's going to be the banks.
There's so many fewer banks now than 15, 20 years ago, I can't even begin to tell you.
And of course, our wonderful government that's worried about antitrust with technology,
you need to go look at the banks and how big they are.
And I'm not saying that's bad.
I'm just telling you what the government usually thinks.
I think the top five banks own the world.
Anyway, it's actually a good thing if you're at one of these smaller banks and they got bought out by a big bank.
They'll pay a premium for it.
You make a little extra money.
You're at a bigger bank.
You have a little less worry.
Even though after Silicon Valley and that other one, what was the other one that went on?
First Republic?
Nothing else.
And by the way, you know what's strong right now?
the bank stocks
go figure
even though
I heard Bank America
has like a hundred billion
in losses on the books
on their bond holdings
but if they hold them to maturity
they'll just be
fine
just so you know
oh yeah and the Fed's lost about a trillion
but that's just fake money
right
don't worry about fake money
And last but not least, Goldman Sachs lost over a billion dollars last year with an Apple credit card.
I haven't read the whole story because I'd like to know how do you lose a billion dollars on an Apple credit card?
Not so sure.
All right, tomorrow, 10 a.m. I'll be on Fox Business Network with Stuart Varney.
Don't miss that.
And of course, same time tomorrow of the show.
You have a great evening 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, I promise.
Thanks for joining.
Always appreciate you listening.
Peace out, all. Take care.
Bye, bye.
This has been Investor's Edge with Gary Cult Bomb on BizTalk.
To listen to past episodes or to get in contact with Gary, go to GaryK.com.
That's GaryK.com.
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