Investor's Edge with Gary Kaltbaum - The cushy lair! [05.05.2025]

Episode Date: May 5, 2025

https://garykaltbaum.com/THE TOP 5By Gary Kaltbaum May 5, 2025 - Late day selling…and overdue.Oscillator bright red. Needs to be worked off.PLTR coughs one up but was very extended.Another tariff?Will know a lot more on if we pull back and how we pull back.  And again, overdue. Need to wipe some smiles off faces.

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. 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're here, ladies and gentlemen. Happy that you are listening. It is Cinco DiMyo, right? Right. Okay. Monday. 2025 Hope you're having

a great day Hope you had a great weekend I spent my weekend Let's see With my dad a lot And he's I have to In case you don't know

The doctor What was it? 10, 12 days ago Walked into the hospital room And gave me the look and talked about saying goodbye. Rabbi came in to the hospital room. He had pneumonia,

fluid on his lungs, and they tell you that's the type of stuff that'll kill the elderly. The next day, the next day, started to go away. And in three days, they sent him home.

The doctor said to me, it's the strongest man he's ever seen because that way he said what he had would kill the normal 93 year old now i will tell you he's weak and fragile but so much better so alert and still complaining about things that i'm not going to talk about but he's doing good for a 93 year old that just had pneumonia and fluent on his lungs so every day is a good day. The doctor was amazed. And I thank all of you for your well wishes. And hey, his birthday is October 20th. He'd be 94. That's Mickey Mantle's birthday also. And let's hope. It is also today my grandson's 10-month birthday. And I have to tell you, on a person's

personal note. My greatest, greatest feeling right now is when I'm with this little kid. Seriously, it's amazing. I never ever thought that a little 10-month-old, just hanging with him, would just put smiles on the face. So just letting you know my weekend, also went to a bar mitzvah, but I could not go to the service because I was with my dad. And I am back home and we'll fly back up this week because that's what we do. And that's that. And in case you do not know, this is serious talk on everything that affects you. We'll do the markets and the economy and tariffs.

Another one that happened, I guess, last night. And whatever else comes to mind, serious talk. We'll talk about your job in your industry, the debt and deficits. The latest con Republicans put in a budget with $5 trillion of debt, yet they're telling us how they're working for us. Yay. And if you do not get this radio show in your city, we'll post it at garyk.com. We'll post it on our Twitter feed, which is now X. And if you don't follow us on X, you should.

If you'd like to email us, just be nice. Also, it'll be on a bunch of podcast apps. So I did a little diatriate. here on Friday and the few of you did not understand where I was coming from. You thought I was actually attacking a person. A few people. You thought I was attacking Donald Trump and Joe Biden. You thought I was attacking Joe Biden for giving $150 billion on student loans, contract law. No, I wasn't ripping on Joe Biden. You thought I was ripping on Donald Trump for his tariffs.

I wasn't ripping on Donald Trump for his tariffs. It had nothing to do with either of them. It had everything to do with our whole government and our whole system that we'd be able to get to this point where a central banker could print. Think about this. You ever take it? Just step back for a second. one man can print up to $9 trillion bucks. He didn't print $9 trillion, but up to $9 trillion.

And take that money and screw the free markets. The most important market in the world, our bond market, just screw it and interfere with it and creating massive inflation and massive distortions. How do we get to the point? And by the way, I'm not even going to use the word tariff anymore. I'm going to just say tax. How do we get to the point where President Trump can tax the hell out of anything he wants?

Our government. How can Joe Biden forgive $150 billion with our tax dollars? Our government. Somehow through the years, our system of government has enabled a person to tax. tax the hell out of things. Forgive massive amounts of money on people that signed contracts to pay off loans. That's what I was ripping on. Trump could not do this if he was not able to do it. Joe Biden could not do what he did if he was not able to do it. We're becoming a more dictatorial government. There's nothing to do with Trump. He's doing what he's allowed.

It has nothing to do with Biden. We're becoming a dictatorial government. When one man could print to $9 trillion, another man could give hundreds of billions of dollars in loans, and another man taxed the hell out of anything that moves, and then change his mind the next day. We used to have a government of checks and balances. taxes and how much is paid on taxes supposed to go through the House and then the Senate

and then the president no not anymore the president over the weekend is now wanting to put on a 100% tax if you do not do movies in the United States in other words if you decide if Stephen Spielberg

decided to shoot a movie in Botswana and it costs $80 million it's now going to be 160 million and that 80 million is going to go

to our treasury or something like that the system we're becoming a dictatorial government that's what we are a dictatorial government is when one person can make

unbelievable decisions just one just one just one. That's what it was all about. For the people, by the people, is a phrase that's associated with democracy. And it means that the government is created and operated for the people's benefit, where citizens get to participate in the decision-making process at certain levels of that government.

not anymore not anymore you disagree email me that's all I was talking about Trump wasn't a rib on him though I'm completely against tariffs it wasn't even a rib on Biden though I was completely against the forgiving alone's it's picking and choosing one person is not was never supposed to be able to government to pick and choose winners and losers. And what does it have to do with markets? The economy, your job, your industry, everything. Look what Trump was able to do.

And then back away because markets, Donald Trump crashed the market. One person crashed the market. And smartly didn't want to keep crashing the market. So changed his tune. The pause. But I don't even know where the hell we are with the tariffs right now, to be honest with you. I don't think we have a representative government anymore. We do go voting, but the government now is enabled executive actions beyond the beyond.

Up next. The markets. Other thoughts. 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. 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 complimentary portfolio review. The number to call is 888-4-22-5-59. That's 888-4-2-5-59. That's 888-4-5-9. That's 8884-2-4-2-2-5-9.

Investment. Investment Investment. 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 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 Sprecker.

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 Sprinker 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. 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 for all you Republicans all you Democrats all you independents we all better get real you do know that right our system of government's being shot the hell in plain sight in plain sight let me repeat one more time one man was able to print nine trillion dollars and take over the whole

freaking bond market and interfered and distorted everything and that massive inflation we got was from him and the reason why he didn't get the blame is because he's not elected how did he get the ability to do that joe biden besides that ass clown on purpose leaving the border open He shouldn't be impeached just for that. Yeah, what, you owe $10,000? You signed the contract? Oh, we're forgiving you. Joe Biden has no money to forgive.

He's using our money. How did we get there? And then the taxes. President Trump wakes up. I'm going to tax this. Now I'm going to tax that. Now I'm going to take off that tax. Oh, it was 25%.

Now I'm going to make it. Now I'm going to put it back to 25. It was never supposed to get this way. And one of the emails I got was, well, they voted it in years ago. Oh, that's right. Did they? They snuck it in. They snuck it in.

Just like Obama. How did he get Obamacare done? Well, if you go look up Jonathan Gruber, one of the architects, He actually admitted after the fact on a couple of videos that Barack Obama, oh my God, Barack Obama lied to us, that Barack Obama lied to us about the whole Obamacare. And the reason he was able to get away with this, because we're stupid. He said that. And the media just blacked it out. I don't know what's going to change all this because it's getting worse.

but eventually something's going to force it to change. All of you that love Trump think that, oh, look what he's going to do for us. Look what this, look at that. The system's screwed. And we don't hear the stories about how screwed the system is. Oh, I'm going to tax this at 50%. Well, if it doesn't affect you, but what if it does? What if you sell a bunch of stuff and get all that stuff from somewhere and has to always get from there?

And now you have to pay 50% to the treasury because of one man. Not voted on the House or the Senate and then go to the presidency. See, this is what I was talking about. Anyway, that's the story. I wanted to cover that again. The next thing I got to cover before I get to the market is Warren Buffett. 94 years old stepped down, and I will tell you that Berkshire stock today is down, as I speak, $29 because he's stepping down. He's $94.

Was down, I think, $37. This is down 5% in change. in case you do not know that there have been a year or two where Warren Buffett did not do well in the market for whatever reason and do you know during that time you had a bunch of miscreants make fun of him I'm just letting you know that it's so weird when I see people make fun of billionaires that have a bad year or two. When I heard Buffett was stepping down, that's what I thought of first, because what I hear is his return since day one that $10,000 would be how many millions now? the greatest longer term investor of all time with a lot of common sense

some of the things he has said you go look up some of his quotes one of them is the only time you find out when somebody is whatever is when the naked man when the tide goes out some to that effect anyway he's stepping down but he's still going to be a part of the business

but he had to hand it over to somebody else. And I received a lot of emails today about what do I think? Well, I really don't know the new man, but I gather he's a smart dude. And if he's been, and let's call it an apprentice under Warren Buffett, I gather he has learned from the success. I saw somebody make fun of Warren Buffett today. about Apple he made a zillion bucks on it

and why would he sell they were making fun I'm sorry Apple stock well he sold because he had too much and made not made too much but it was too much of a percentage of everything he has and in case you don't know Buffett owns like seize candies Burlington Northern he bought

had huge positions in Gillette Coke and things like that never bought into text that he couldn't understand it that's why everybody was surprised about Apple but I applaud this man

the greatness of him given away his money to charity and just demeanor I wish I had his demeanor you know we rip people here when we think we should

he never really has. I don't think he's ever ripped anybody. During the weekend, he took on Trump and his tariffs, not mentioning the president's name, and not being nasty, just saying that you could go look it up. I wish I can do that. I really do.

So we wish the man well. I have never met him. last year I was going to see him in Nebraska and something happened in an emergency I had a canceled like within a week to I think it may have been my mom I don't remember exactly but what a success story up next today's market thanks for being here I'm Gary 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-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. 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. Spreaker, because if you're going to talk to yourself for an hour, you might as well publish it. You're listening to

America is talking. Investors Edge. He's got to be pleased with that. The crowd is Just on his feet here. He's a Cinderella boy. With Gary Colbomb. It comes highly recommended. You're going to feel better if you talk to him. So real quickly, the president said something about 100% tariff on if you make movies over somewhere else and not the U.S.

I will tell you that Netflix was down 70-some-odd bucks pre-market. It's only down $18 now. And who know, you know, Netflix, you know, does a lot of things, I guess. But they regurgitate others, so I don't know. I don't know how that plays out. I really don't think the president thinks things through all the time. I mean that. I would say it to his face because what are you going to tariff?

What exactly you're going to do? If somebody wants to do a movie with a setting in Switzerland, they can't or Italy, they can't. Let me just state for the record this closed door thinking, protectionist thinking, sucks. I would tell that to the president. It makes no sense. This country has been based on free markets. And the president wants to close the free markets down. There's no way any movies can get made with a hundred percent tax.

No chance. Impossible. Yet that's what he wants to do. I don't know if it's going to go through or not. It just makes no sense. Tax your own country's companies for doing their job. Free to do their job. and now you don't let them by taxing them makes no sense and how far does it go think about it how far does it go

think about your life personally or your job and what if all of a sudden the thing that you buy you have to pay a hundred percent more for or 50 percent well that's what's what's going on right now and the only thing that stopped them was the market crashing. We'll see how it goes. I don't understand. And interesting enough, by doing this and his statement basically undercuts him saying that other countries pay the tax. We're not using the word tariff anymore.

It's a tax. So the president undercuts him. telling everybody that somebody else pays it, not us. Markets. First off, gold. Just gapped up overnight off the very important 21-day moving average. Very, very strong move today. Looks like that would be a low, but gold has been in a bullish phase.

I titled the show today, The Cushy Lair. The reason I did that, nothing specific. As you know, the market has rallied up ever since the president changed his mind, on the massive tax on our country and our business and the consumer, on anything coming from any country around the globe. You remember that Wednesday? The market crashed on that Thursday and Friday, and on that Monday, they were changing their stance, they were pausing,

but that got leaked, so they said not true, and then they finally paused it on Wednesday because they didn't like the leak on Monday. So I think the best thing we got going for us is if the market crashes again, he'll back off the tariffs again, I think. I'd like to say that, but here comes the 100% on the movies. So I title it to Cushy Lair because I've told you this before, we kind of watch things closely.

We do. And not just the patterns in the market, the patterns of fear and greed, the patterns of uptrends and downtrends, we feel like we have a feel for how the masses. feel about markets. And there are certain indicators out there that we follow. And for the last two or three days have been bright red, bullish, which is bearish. And when I say bright red, ridiculously bright red.

So we've had some sentiment indicators that we follow that hey, we've had a rally up into massive overhead resistance. Massive overhead resistance. But there's also another part of the sentiment that we follow and why we use the words the cushy lair. It just feels like, from what I see, I feel the masses thinking,

The worst is over. We're good now. Don't worry about what just happened. Don't worry that we're running into massive overhead resistance here. Don't worry that the market was bearish before the crash. Don't worry that gold remained strong. And tariffs are still out there. I just have that feel of the masses feel like they are now in their cushy lair.

of investing in everything is going to be fine. We'll see. That's all. The technical condition has improved. We've actually seen some new highs in the market. Not much. And of course, when you have a real big drop, it takes time to find leadership. And we've got some leadership, new highs. been acting better. The banks have been acting better. But I'm just letting you know near-term, cushy lair. Does that mean anything big or bad? I'm not going there. I'm just letting you know shorter term, near-term. I put out a little note today saying that, you know, good move. It's been persistent, but near-term overbought, near-term quite short. stretch as many days in a row on the upside, but somewhat of nil effect. Near term and straight ahead will be massive overhead resistance where we could see some

settling down and dare we say a pullback. And interesting, I put that out at 247 p.m. Just about an hour and 13 minutes ago and since the markets dove, we'll see what comes of it. Cushy lair. And I repeat, it doesn't have to mean much. It just feels like people are all comfy now. And I can promise you, I'm not so sure everything is all comfy this second.

The Dow finished down 98. It opened bad, rallied, and fell into the close. S&P down 36, NASDAQ 133, NASDAQ 133, NASDAQ, 100, 130, 4 to the downside. The socks down 40. By the way, most of this drop was into the close. Transports down 75, advanced declines. 2 to 1 negative on both in New York and NASDAQ,

which does not thrill. Gold Strong. And I'll be doing my scans in a little while. as Winston watches me. Winston loves watching me do my scans. China and Asia were good overnight. So was Europe, but I have a sneaking suspicion. Our little drop may cause them to have some issues overnight,

but it wasn't that big of a drop. Not a big deal. And we'll see what comes of it. Last week you had very good reactions to things like Microsoft and Facebook, which is now meta. I still don't understand why they would change that name. I don't get it. Outback Steakhouse change to blooming brands.

Come on guys. So up next, more on these markets. Whatever else comes to mind. I'm Gary. 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.

There's 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 Sprecker. 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 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 spreeker because if you're going to talk to yourself for an hour you might as well publish it you're listening to

what are you waiting for one two ready with gary colpah and welcome once again to investors edge uh by the way back on warren buffett just uh you shouldn't read about him, read books about him. I just, one of the great men. I don't know much about his personal life, but man, oh man, has led a pretty darn good life. And so with Charlie Munger, who passed away in the last year also.

I also want to mention one more thing on the taxes. It is demoralizing how so many conservatives slash libertarians slash, free market economic thinking people have no issues with the taxes that the president Trump is putting on anything that moves just let you know you know what that is that's kissing butt currying favor we think the better move of these people is to be constructive with the president we'll see we'll keep telling you what we think with no agenda, bias or ulterior motive. Seriously. And if you don't know that by now, can't help you because we've taken on all comers. What we want is good policy

and then get the hell out of the way. Taxes are not good policy. I've been asked about 7,000 times in the last few weeks about Palantir. They reported earnings. I believe after the close it was just down five bucks but now is only down a buck in the aftermarket. I don't see the earnings yet. Now it's down four bucks so it's trading all over the map. It is stretched extended to the upside and we'll see how that finishes out. It is one of those important names right now very much favored. and very much, I guess the word is overowned, and very much, very much expensive on a normalized basis.

And it's back to even in the aftermarket. And now it's green. The CEO of that company always says big things. And we'll see how that goes. It's lighten up like a pinball machine right now. So anyway, we talked about the cushy lair. I also want to mention one other thing. There is a lot of talk about recessions and depressions and end-of-the-world type scenarios because of President Trump.

And, of course, those people are in the other tank. Let me state quite to the point, if the market doesn't croak from here, we're not going into a big recession we had a down quarter it was nominal but I'm letting you know the market is always flushed out always flushed out recessions that don't happen often if we start tanking again I think we can talk but right now we've been rallying up and watch the banks if the banks act okay We're not going into recession. I think there'll be areas.

I believe if the president didn't do the pause, we would have gone into a recession. But I think we're okay. If the markets stay okay, just letting you know. That's how markets work. They really do. Most people don't want to believe that. And I hear a lot of people making fun of it. but it's true.

And how do we know? We've looked at every down economy. Markets always have telegraphed it and topped out in advance. There's never been a time, and you can correct me if I'm wrong. I love being corrected. That means I'm learning. You can correct me if I'm wrong. if you find a pretty good economic dive,

and the market did not see it beforehand. So as of this second, I think we're an okay stead. If things change, I'll let you know. Not a great finish to the market today. We've gotten past a lot of the big stocks, but I will tell you, I have 13 pages of earnings this week. And I think we have Jay Powell on Wednesday. My expectation there will be no rate cut, even though the president is yelling and screaming for, well, not yelling and screaming for one.

By the way, Palantir was just up six and is now down four. So, welcome to my world. And we'll keep you apprised. But the title of today's show, Cushy Lair, it just feels a little bit to everything A-OK. and with market stretched, extended to the upside, with our oscillator quite in the trees, wouldn't be surprised by a little pullback, if not more. I know other people that say, oh, we're in a bare market and this is just a bare market rally. Oh, we'll know that too.

I'm in none of that camp at this juncture. The market will decide for us. You can't hide bad markets. Just remember before the market croaked, we were bearish before the croaking. Because at the highs the S&P were at, half the stocks are already bearish. And the average stock usually leads the indices. So until tomorrow, you have a great evening drive carefully. And 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, stay well, be well. Thanks for joining. And just remember, we're not R, we're not D, we're not I. We're P.

People. That's what we care about. Have a great one, everybody. Until tomorrow, 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.

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. to change. See Capital One.com for details.