Investor's Edge with Gary Kaltbaum - The doge duo [12.05.2024]

Episode Date: December 5, 2024

https://garykaltbaum.com/

At CVS, it matters that we're not just in your community, but that we're part of it. It matters that we're here for you when you need us, day or night, and we want everyone to feel welcomed and rewarded. It matters that CVS is here to fill your prescriptions and here to fill your craving for a tasty and, yeah, healthy snack. At CBS, we're proud to serve your community because we believe where you get your medicine matters. So visit us at CVS.com or just come by your food. store we can't wait to meet you store hours vary by location investors edge with gary coltbaum straight talk about you and your money now from the biz talk studios here is gary cult bomb and welcome once again to investors edge i'm gary colpom your host day thanks of being with us today

glad you hear ladies and gentlemen happy that you are listening it is thursday december 5th 2004 it's the five-month birthday of my grandson, Reese, today. Hope you're having a good day. As always, serious talk on everything that affects you. We're going to start out today with the Doji Committee, because I've got a few things I have to get off my chest. If you do not get this radio show in your city,

we'll post it at GaryK.com. We'll also post on our Twitter feed, which is now X. And if you don't follow us on X, you should. If you like to email us, just be nice. And as we said, this is serious talk on everything that affects. you from the government on down the markets the economy your job your industry the morlocks in dc whatever bubbles up we shall cover as best as we know and of course guide you through thine markets so today i have to start i was just watching a little bit today you know as i sit here i do not sit anymore by the

the way during the day. Because of my back spasms and stuff, he told me, don't sit so much. I maybe sit take every hour and I'll sit for five minutes. Most of the day I'm standing up, stretching, whatever I got to do. I'm noticing I'm not a big fan of political punditry. And let me explain why. And I'm not singling out anybody. I respect their job. They're just. They're jobs, their job is to talk about what's happening via the political world. What I don't like is when all of a sudden they give a crap about the debt and the deficits. Now they're all out. Oh, look at the debt. Look at the deficit. Look at the spend. And we watch a little bit of this stuff. Now all of a sudden, why? Because it's the thing. It's now the thing. The thing we have been

telling you about for how many years is now the thing in D.C. and on television. It's the thing because the richest man in the world and another billionaire guy, Vivek Ramoswami, are putting it front and center as the, it's called the Doji Committee, whatever the term stands for that they are going to do the things we've been begging somebody to do. And we've been saying on this show, we're looking for a hero. Well, as of now, these two are my heroes. We'll see what they can get done. We think there'll be a big fight on.

Just remember, there's a big, gigantic machine out there, ladies and gentlemen. It's a freaking machine. The machine is Walsh. street via Washington, D.C., Washington, D.C. back into Wall Street. Once Washington, D.C. into the lobbyists, back into Washington, D.C. What Washington, D.C. has been able to get away with throughout the years is just a gargantuan, wow. You do recall. You do recall. Many moons ago, they did what they called campaign finance reform to take money out of politics.

No, they uncapped it to where Kamala Harris spent a billion and a half dollars. And by the way, there are a lot of people very pissed at them for what they did. Because what ended up happening, a lot of consultants became multi-millionaires. It was donors should be so pissed at them, I can't even begin to tell you. They just funneled money. That's what that was, a funneling job. but back on point. So all of a sudden I'm watching the pundits. They care and this and that. They're acting like their experts. No, we're the experts on it here. We know what they have done. We have talked to you about what they have done. We have followed what they've done. We know where the skeletons are. We know how they went about it. We've covered it from soup to nuts. How they raised the bar with the COVID spending and then never lowered it back down, even though we stopped spending on it. COVID.

350 billion went to this yachts. Nothing personal. Never met him. John Podesta on climate. No accounting there. And just money just flowing all over the place, left and right, up and down all around,

with no accountability whatsoever. I told you that many years ago when we handed over 800 billion to Wall Street for their fraud and their crimes that nobody got indicted for, that Neil Cavuto said to me on TV, trillion is going to be the new normal. Well, little did we know, it'd be up the 36 trillion. So the pundits are out there right now.

Yippie, yay, yippie a, and they're all out there. But I reserve my ire. I have to reserve my ire. As you know, this MSNBC, they're just weird. I don't watch often, but I get video sent to me left it right. And during the election, I decided to pay attention in the weeks leading up. And I was amazed to watch Americans hosting shows in America on MSNBC, calling Americans racists, misogynous, homophobics, Nazis.

And I'm thinking to myself, wait a minute, why would anybody watch this channel when they're calling swathes of people the worst possible things you can say? And of course, the election happened, and they're still doing it, which gets me back to the doji, which is to just simply imagine

make our government more efficient, more effective, no more waste, no more corruption. Well, I don't know if that will ever get to that point, but at least try to get there. And if you can just save a dollar, it's a dollar saved. MSNBC, Joe and Mika, you know that Toosome? That I guess they were calling Trump Nazi

and then they went to visit them at Moralago and they've got blasted and their ratings on MSNBC are down like 50% now from the highs. People are figuring out maybe, wait, why do I want to be called racist every day? Joe's out there today calling Doji a scam. Imagine people wanting to make government more efficient and effective and not run $2 trillion deficit.

You have a guy who, by the way, was a Republican or is a Republican and very conservative Republican thinks like me. Now saying it's a scam to try and lower the debt and deficits. He's saying it's a scam because, oh, 80% is already spent on this, that, and the other thing. Isn't amazing? I guarantee you if it was Biden doing this, Joe and Mika would be saying, Go, Joe! It's all freaking politics.

They just don't care about you or me. It's how can we start a fight, maybe get people watching, get our ratings back up, when they don't even realize maybe one time be logical. Be logical and not what you're doing. Imagine $350 billion given to John Podesta. I'd be just taking that away. imagine I could take $350 billion and not spent on bull crap. No, it's a scam.

Anyway, I'm rooting them on. Nobody has called me. Nobody even knows me, even though I have been the lead voice on this for years. I blame myself for not marketing myself better, but, you know, for a living, I manage money. They know I'm out there at this point in time. I put it out there and we'll see what happens. because I got news for you. I know 100 times more than they do

on what is out there and what can be done. And I'm not just talking about, oh, they spent $5 million on the mating habits of grasshoppers in Indonesia. I just made that up. But by the way, there's some of that out there. I'm talking the big stuff. The big stuff.

And do you realize where this economy goes if we can get them under wraps and treat government like they're supposed to be treated with care for our tax dollars. Anyway, that's my Doji talk today. And I'm going to continue to try reaching out and maybe they'll figure out, hey, this guy knows what the hell he's talking about.

Next, a lot of wickedness today in the market. I'll explain up next on this to 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.

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The number to call is 888-4-2-5-59. That's 8-8-5-5-9. That's 888-4-2-2-5-9. advisory services offered through call bomb capital management. Hello, hello, I'm Malcolm Gladwell, host of Smart Talks with IBM. I recently spoke with IBM's new director of research, Jake Embatta. We discussed his vision for the future of quantum computing. At IBM research, what we always do is answer what is the future of computing,

whether it's coming up with new algorithms, coming up with better AI, coming up with quantum, or coming up with just how do different accelerators go together. It's our DNA to answer the question of what is the future. Isn't it a perfect problem for IBM because you kind of need to have a legacy of building stuff? Yes. Building actual physical machines. Yeah, it's why I came to IBM. I wanted the experience, the culture of building hard things that others have not done before.

Where do you imagine we are in the time? timeline of this technology. There will come a point when it will mature, right? My cell phone is a mature technology at this point. How far are we from that point with quantum? By 2029, we'll build the first fault-tolerant quantum computer. That is one that can run a very, very large, large problem. To learn how IBM is building the future of computing, visit IBM.com slash quantum. Hi, I'm Dr. Jay 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, I have a stomach kick 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 IHeartRadio. Listen now wherever you get your podcasts. OnDec is built to back small businesses like yours. Whether you're buying equipment, expanding your team, or bridging cash flow gaps. OnDex loans up to $400,000 help make it happen fast.

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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. Okay. Let me see if I could explain this in eight to nine minutes.

So we got this Bitcoin. And as I have been telling you, I don't care when anybody else says and what it is and what it isn't, there's nothing there. It's an inanimate object that was invented many years ago. It could have been a leaf falling off a tree, whatever it may be. A bunch of shills came out with 30-some-odd thousand of these coins. Most of them are zero, but some of them around and some of them have been popping up as of recent. They're trying to tell us it's the shape of things to come, the digital this, the digital that, this, that, and the other thing. And we've been just saying to you, we're going to follow Price and let you know.

And it just broke out of an eight-month range and had a pretty darn good move. And we also told you there's some people out there. Somebody said 49 million yesterday on my very good friend show, Charles Payne. Michael Saylor, who was the CEO of Micro Strategy, was on. And he was talking about 13 million. as a price for Bitcoin. I don't think he gave a date, though. I'll have to play it back.

And I am not here to indict him. I'm not here to compliment him. I'm here to tell you what he has stated, because as of this second, the dude has nailed it. Bitcoin was over 100,000 last night, did back off under 100,000 at the close. And that's all I care about is that reality.

He's nailed it. There's only one thing. And here's my worry longer term. There's still no earnings. There's still no sales. There's still no company. There's still no profits. There's still no product.

There's still no service. So they're telling us it's this digital thing. And that's all well and good. And they're telling us it's going to go. He said something about $13 million. Well, as I say to you, somebody's going to have to pay $12,99,999,999 for it to go to $13 million. Just like I said, if it's going to go to 100,000, somebody's got to pay 99,999, 99 cents,

but that's not how it's worked. Because now all you've got to do is buy an ETF that owns or has the Bitcoin, and that moves it up. So you can buy the GBTC at $78.69. You can buy the IBIT paying $56.51. Of course, that's helped. And then all of a sudden you have the administration, who's very friendly to the crypto business.

Hired the SEC guy very friendly to crypto business. And due to the fact, there's only a certain amount of these bitcoins, well, you never know. But valuation, what's the valuation? They were talking about it's worth these trillions, that trillions versus this is that trillion, this and the other thing. Okay. My issue near term, let me be clear about this.

This micro strategy. is borrowing a crap load of money, issuing a crap load of convertible bonds, yielding zero, and people are buying them, and taking that money and buying Bitcoin. In other words, leverage up the wazoo. In fact, today, Bitcoin,

which I think hit a high of 103,000 and closed at 98,000, Which is what? Not even 5%. A little 5% drop? Micro strategy today. Let's see. Hit a high of $445, closed at $386. Leverage. And I'm thinking to myself, just thinking to myself, as price goes higher, that means he's got to raise more money to keep buying more to keep moving this thing. You catch in my drift. Now, I'm not going to use harsh words, but they do have words for this type of things that are going on. You have companies now symbol H-U-T, symbol S-M-L-R, that have now copied micro-strategy. And it's kind of just reminding me back in 99 when mutual fund companies would change their name from the so-and-so technology fund

to the so-and-so internet fund to drive money in. And then you had companies change their last name to dot com and make announcements, oh, we're starting a website knowing that they can goose their stock. I'm just wondering. So let me just state a big suck in last night. Boy, people were in a lather over that the fact it hit 100,000. Oh, I'm getting text, text, text, text, text, text, left and right.

up and down all around 100,000, 100,000, 100,000. Well, they opened it up and they finished below. I have no idea what tomorrow brings. Maybe it goes up 10,000 tomorrow for all I know. Just know what you're dealing with, know what you're getting into. That's all. Microstrategy had a high of $543 about 10 business days ago. It's 386 right now. That's a nice little haircut, while Bitcoin's only a little bit below the high. do some work on it, study it. I'm just getting calls from people that I know, what do you think of micro strategy? I'm getting calls from 80-year-old people.

I got rid of a client that brought me money because he was scared out of his wits about the market and then calls me up to buy 150 grand... Hold on, excuse me, $300,000 of micro strategy. and I said, wait a minute, you were scared about the market. Oh, don't worry about what I said. I said, listen, best of luck to you. I hope it goes higher.

By the way, he's up on it right now. But price moves emotions, but price also moves stupidity. He did not care what I had to say about the leverage. He did not care what I had to say that the last time there was a bearer market, Bitcoin went from 64,000 to 16,000. Last I looked at 75%. And guess what micro strategy did? Didn't want to hear it. And in that interview yesterday with my good friend Charles Payne, there was no thought of really a bare market happening. So we'll see. You know who I will applaud. I watched the CEO of Robin Hood today on TV. I give him credit because he came out and said,

something to the effect of really just so you know and he talked about I'm not telling you what to do but you really don't want it more than 10% of your your money in something like this while others well I'm taking all my money and putting it into it so just let you know we don't know if it's going to go to 13 million or 49 million I don't know we just ask you to do some work on this do your homework if you decide to dive into these waters, know what you're getting into. Know that micro strategy is leveraged. Know what moves, what doesn't.

Know what a miner is and what the minor does and why they are underperforming certain things. We just want knowledgeable people. Because when all hell breaks loose, if it breaks loose, you get the point. Up next, what happened to market today? Much more. I'm Gary. This is one only investor's edge. I'm Malcolm Gladwell, host of Smart Talks with IBM. I recently spoke with IBM's new director of research, Jake Mbata. We discussed his vision for the future of quantum computing.

At IBM Research, what we always do is answer what is the future of computing, whether it's coming up with new algorithms, coming up with better AI, coming up with quantum, or coming up with just how do different accelerators go together. It's our DNA to answer the question of what is the future. Isn't it a perfect problem for IBM because you kind of need to have a legacy of building stuff? Yes. Building actual physical machines. Yeah, it's why I came to IBM.

I wanted the experience, the culture of building hard things that others have not done before. Where do you imagine we are in the timeline of this technology? There will come a point when it will mature. Right? Yeah. My cell phone is a mature technology at this point. How far are we from that point with quantum? By 2029, we'll build the first fault-tolerant quantum computer.

That is one that can run a very, very large, large problem. To learn how IBM is building the future of computing, visit IBM.com slash quantum. Hi, I'm Dr. Jake Goodman, host of Beyond the Script, the podcast where I sit down with pharmacist 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. Cash flow crunch. OnDec's small business line of credit gives your business immediate access to funds up to $200,000 right when you need it. Cover seasonal dips, manage payroll, restock inventory, or tackle unexpected expenses without missing a beat

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All loans and amount subject to lender approval. 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 Coltbaum. It comes highly recommended.

You're going to feel better if you talk to him. And by the way, there's a lot of themes going on right now. Just a lot of themes. with a lot of no sales companies in the market. That's all. It's in nuclear, rockets,

and the like. And I've had to do a lot of explaining to people about, but they have no sales. No, no, no, no. They have no sales. No, no, no, no. They have no sales. it just falls on deaf ears because there is a lot of excitement involved.

We get it. We understand it. We know the ultimate outcomes of everything. Everything throughout history. Everything. Eventually, ultimately, price will go to what I call normalization. Happens all the time.

which takes me to another event today. And may I state for the record, it's stunning. That ass clown, roaring kitty, he's the ass clown that has led the lemmings astray into buying GameStop again back in May. And the stock went from like 15 to 65 back to 17 and 6 days. And then it went up.

the 48 because it was announced he was doing a live stream and it showed the live stream him being a yutz nothing personal never met him this is business well since from 48 the stock has been hovering between 20 and 25 dollars the lemmings lost their butts the reason why the stock made a move he put out a tweet with a picture. I'm not making this up. Amazingly today, he puts out another tweet out of nowhere, and it's a cartoonish-like picture. It had to do with a couple of numbers

and a Mac computer, an old one. What did the lemmings do? Well, the stock went from 26 up to 31. The good news is it didn't go to six. But they still bought into it. Went to 31. It closed the 2860. It is stunned.

And by the way, they moved the AMC theater. It is just stunning. It is just stunning. How much money has been lost because of this jackass. And I would say it to his face. You're a jackass. Because he doesn't look bigger than me. If he was bigger than me, I probably wouldn't say that.

But I reserve Jackassery. Do people have a memory of just going back to May that it went to $64? And in four days, it was back to 17. And then because of an announcement, he was going to have a live stream, it went to 48 quickly and right back down to 20 within a day. Because I'm sorry, he looked like an absolute moron on the live stream. Which gets me back to my point. Please be careful.

That's all I got to say. Please be careful. Of note today in the markets, a couple of things standing out. Semiconductors, man, just still very weak. You know those semiconductor equipment makers, the important ones? Applied materials down $9 today to $172. KLAC, down $1.7. $24 to $642.

By the way, these things are hovering near the yearly lows. ASML down nine analog devices, down four. Texas Instruments down to the 200-day moving average. Qualcomm, yikes. And I can go through the rest. The socks was down 95 today and remains very weak and doing something much different than its norm for many years, and that is lead the market down.

The market has not been going down. It has been trending up from the election. I will flatly tell you if they start coming after the software in a big way and some of those bigger guys, then we're going to be talking. But the NASDAQ 100, the technology ETF broke out in the last couple of days to the new highs and we'll see if it can stick. Would be nice. we're just letting you know I just wanted to start by saying the semis next we mentioned to you

recently the housing looked like it hit a fricking wall another rough day to day even though rates were flat and we'd just be very wary of housing stocks right now and you don't go look at DHA go look at LNR

this is what we mean by down trends Linar broke the 200 day moving average day I didn't even see that A Toll Brothers, which broke out of range to the upside last Monday, has tucked its head in like a frightened turtle already. Failed as of this second. And of course, if anything changes, we'll let you know. We've been telling you, what would we say? Was it two days ago?

We sang, uh-oh on the transports down another 190 today as things like the rails start really acting iffy. And I got to tell you, FedEx and UPS, the south end of a northbound jackass. especially UPS. Geez, what's going on there? So I'd be wary there, but not the airlines. Because they're part of transports. American Airlines comes out and says some good things. So did Southwest Air.

Some of these airlines are strong, and United Airlines and Fuego. Cruise lines, no problem there. They've been strong, need to pull back. So I don't include those in there, but truckers and rails and the FedEx UPS Quinella

yikes medicals it's just like a medical stocks not acting well a lot of drug stocks in downtrends a bunch of the big biotech including Amgen in the Dow

these are a voids that just avoids Solas you already know about China very disappointing I was hopeful gapped up, two more gaps to the upside, has given it all back. We'll keep you apprised. Defense stocks since the election, well, they were already weak into the election, getting hammered. We'd avoid. The managed care stocks except United Health, avoid. That's medical.

But United Health today, down $31, broke the 50-day on volume. We always have this thought, if the whole group's in a bare market and one stock's holding up, eventually they'll get that one stock, may have done that today. The Dow was down 250. You know what the saving grace is? Most of it was United Health. But it still counts. Why?

When it goes up, it counts. Of course, when it goes down, it counts. That's the way the cookie crumbles. So that didn't help today. And just a little mushy. NASDAQ down 34, NASDAQ 100, down 67. We told you about the transports. 2 to 1 negative on the NASDAQ advanced declines.

18 to 22 advanced declines on the New York. And just not much I can take out of it. There's still leadership and Netflix was up 7 and Tesla was up 10. And there was good action. And some of the software, not all. They pulled a few back because Lord knows they need to pull some of these back. but what stuck out for me today was the big reversal in crypto which may not mean anything except it was a nice little suck in above above 100,000 and again last night

I'm hanging in bed with Winston my wife's still up in New York and I'm watching Survivor it was Wednesday and then I turned on my usual Big Bang Theory in Seinfeld that's what I watch and I'm getting tech Text after text. Bitcoin, 100,000, 100,000. Here it is. Here it is. Here it is.

Here it is. Okay. We'll see what tonight brings. And again, we have no agenda. Just a report to you what's going on and keep your feet on the ground. Up next, what's wrong with Uber? What's wrong with Lyft? This is the one only investor's edge.

Hello, I'm Malcolm Gladwell, host of the podcast Smart Talks with IBM. recently sat down with IBM's chairman and CEO, Arvin Krishna, and I asked him, how can companies use AI to its fullest potential to create smarter business? My one advice to them, pick areas you can scale. Don't pick the shiny little toys on the side. For example. If anybody has more than 10% of what they had for customer service 10 years ago, they're already five years behind. If anybody is not using AI to make their developers

who write software 30% more productive today with the goal of being 70% more productive so we are not asking our clients to be the first experiment on it. We say you can leverage what we did we're happy to bring out all our learnings including what needs to change in the process

because the biggest change is not technology is getting people to accept that there's a different way to do things. To listen to the full conversation, visit IBM.com slash smart talks. 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 put it. 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. On Deck is built to back small businesses like yours. Whether you're buying equipment,

expanding your team, or bridging cash flow gaps, On Deck'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 on-deck.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 guest's edge. with Gary Culper. So just letting you know, Uber, which had a huge volume breakout in October and failed immediately, we did not buy it. It's just crumbling. Lyft that just recently gapped up got trashed today for 10%. So the story is Waymo. I'll never go in a Waymo, nothing personal.

I just would rather have a driver. But I guess Waymo has been proliferating in some areas. I think definitely in Phoenix it's going on. It's been reported now Miami. And usually there's a combination between Waymo and Uber, and this new deal in Miami does not have Uber on it, something to that effect. And the worry is it will take business.

from them. So just letting you know, lift down 10% today. Uber down almost 10, both in downtrends at this point. I say avoid for this second. I'll let you know if that changes, but there, you know, there's nothing like, the word is not advancements. It's just changes. Things changing. Competition shows up. And I can tell you, when I land in LaGuardia, of you now, which is just about every week, I don't take an Uber or Lyft anymore. Do you know why? It's simple. I can be off my plane and know I have a 10-minute walk to get to where I'm picked up Uber and Lyft and I'll order an Uber or a lift and I get there 10 minutes later and they're still 10 minutes away. And sometimes it's happened a couple of times. I'm waiting, I'm waiting, I'm waiting,

and the guy cancels me out and I got to do it again. So guess what? I just walk over to the taxi. And the taxi is a little cheaper than the Uber and the Lyft now from LaGuardia. And in New York City, the taxi is cheaper than Uber and Lyft, especially when they do their, what, the surge pricing? So they're going to need to be a little bit on the careful side because they provide a service.

and if somebody can do that service better, quicker, faster, cheaper, guess what's going to happen? And I'm surprised the taxi business in New York City is not marketing like hell the taxi business over Uber and Lyft based on what I'm just telling you. Now, by the way, I still use Uber and Lyft ton because when I have to go to my parents over in Jersey from the city? Number one, you can't use Uber from going to Jersey to New York City. There's some contracting or whatever. So I use Lyft, and those prices are better than the taxis. But the Uber and Lyft better be careful. I think they feel a little omnipotent. Uber eats, though, is very good. I don't use it often, but when I'm up with my parents, I ordered a Chipotle, 15 minutes at the door.

So good on them. Anyway, we'll let you know see how it works out. Again, Waymo, God bless them. I ain't getting one of those cars. It's just me. A car moves. I want the driver. Is that wrong?

Or maybe I need to do a little more investigating because I am told by people they are safe. Okay. Okay. Anyway, that was the Uber and Lyft story of the day. Just a few other things I wrote down. Gold miners, still not happening. I'll let you know if that picks up.

I mentioned to you there's a bunch of no sales, quantum computing stocks that have been trading for 15 years with no sales. And all of a sudden, I'm looking at one right now. I'm not going to give you the symbol. In 2008, the stock price was $346. bucks. Actually, it hit a high in 2009 of 500. It was 50 cents two months ago. It's now seven. They still have no sales, but they're being talked up. And I'm just asking myself a question, wait a minute. You've been public for 16 years. You still have no sales. But now everything's great? I don't know. Maybe this quantum computing thing will be big one day. It was 500. This stock

I'm looking at right now is 500 bucks in 2009. Yeah, think long term. So there's a little bit of that froth going on and we just urge you to be on the careful side. Just remember again, ultimately everything will go back to where they should and no sales companies. I don't care what they sell, what they do. If they have no sales and have a $2 billion market cap, that's going to eventually be trouble. At what point we don't know? Is it going to be a manian go crazy for what could? That's why we don't tell you, don't touch them. We're basically telling you, do your freaking homework. Have a memory of what kind of losses there are. And when I tell you, this thing was 500 bucks and was just as low as 50, and by the way, 50 cents, and didn't trade.

and now it's woke up because it becomes some sort of theme. Okay. Terrific. We hope they work. That's all. But you've been warned. And maybe some of these companies will end up with big earnings, big sales. You've been warned because if they don't, there's only one outcome.

Eventually, ultimately, at what point we don't know. from where we don't know. Stay tuned. We'll be watching. Otherwise, just a mushy day. Small and midcaps pulled back a little bit more today. Nothing to break the trend as of yet, but on notice. China's still, blah, emerging markets.

I will tell you, Germany strong, had another strong day to day, though they keep reporting GDP negative. Go figure. Anyway, you'll have a great evening and drive carefully. We'll be back to TV next week. And 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. And I didn't really talk about it today. But again, thank you for all the condolences on my mom. And we're taking care of the dad. And hopefully he lives another 100 years. Have a great one, everybody. Peace out. Stay well. Good night. This has been Investors' Edge with Gary Cult Bomb on Biz Talk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryKK.com.

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