Investor's Edge with Gary Kaltbaum - The fires [01.08.2025]

Episode Date: January 8, 2025

https://garykaltbaum.com/

Hey, it's Ryan Seacrest for Albertsons and Safeway. It's stockup savings time now through March 31st. Spring in for store-wide deals and earn four times of points. Look for in-store tags to earn on eligible items from Celsius, Body Armor, ORAIDA, Silk, Capri-Sun, Bavarian Meets, and Charmin. Then clip the offer in the app for automatic event-long savings. Stack up those rewards to save even more. Enjoy savings on top of savings when you shop in-store or online for easy drive-up and go pick-up or delivery. Restrictions apply.

See website for full terms and conditions. Investor's Edge with Gary Cultbaum. 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 Colbaum, your host. A thanks for being with us today. Glad you here, ladies and gentlemen.

Happy that you are listening. I believe it's Wednesday, January 8th, 2025. See, I got that right. And we hope you're having a good day. I want to start before the pleasantries and all that. Just wishing the best for those in the areas of Pacific Palisades. Look, I'm fumbling and stumbling. I've never lived there, but I've been to L.A. probably a hundred times. And basically, I do the same thing every time. You fly into L.A.X. You go through the maze of L.A.X. I either drive up one into Santa Monica or go to the 405, depending on traffic.

stay at the lows or the shutters on the beach in Santa Monica and always the next day I take one which turns into the Pacific Coast Highway up to Malibu but you pass Pacific Palisades and on your right is the Santa Monica Mountains and it looks like the combination of fire and just unbelievable amount of wind I spoke to only one person that I know from around there, and they just said, it is absolutely utter destruction.

Schools, stores, supermarkets, churches, homes, leveled, destroyed, infrastructure, destroyed, and it's still going on. As of now, as the wind has not subsided. Wow. You know, I was just in Maui a month or so ago with my son, and they wouldn't let us in to go to Lahaina. I wanted to make that left turn, and you're just not allowed in, but I have seen drone footage, you all seen it, of the utter destruction.

it looks like the same thing in Los Angeles. I think this is one of the worst. By the way, this is north of Los Angeles, as they say. I'm pretty sure this is going to come down as the worst. I'm hearing two dead, many injured, and a lot of people are being interviewed that they do not have insurance on their homes. James Woods, the famous actor, went on TV to say that about three or four months ago, that insurance company just took away the home insurance from him and many others where they live,

I guess has to do with fire. And I guess this, just so you know, the Santa Monica Mountains are right there. The canyons are right there. What is it, Topanga? That's the road I've taken up a couple of times. And we are just wishing our fellow Americans well. There's blame being yapped by certain people. We're not going there.

This is going to be a few years probably of getting back. I just cannot put myself, how do you put yourself in somebody else's shoes that just lost their home and everything and they don't know what they're going to do next and they don't have insurance. And this just tells you that these things, what I always say about hurricanes here in Florida, they have no bias. You can be rich or poor, tall or short, fat or skinny. It'll come get you.

And I'm hearing a bunch of $5, $10 million homes have just been leveled to the ground. So our thoughts are with them. I just put on GPS and all the roads. The roads are browned out on my GPS, which means you ain't going there. All right. Sorry to start so morbid, but I thought it was more important than anything else today. Okay.

We move on. This is Investor's Edge, serious talk on everything that affects we cover everything. Whatever is needed, we cover. But we do the markets and what affects the markets. We do the economy and what affects the economy. Your job, your industry, and everything else that comes to mind. We mix very much the leaders of this country, and I use the word leader very lightly, based on 36 trillion, well, getting close to 37 trillion now, of debt. and we have to do that now. We never used to have to do it, but in the last 20-some years,

our politicians decide to be corrupt criminal, whatever you want to call it. Well, legal criminals. Does that make any sense? Yeah, we'll just go into debt a trillion bucks, no big deal. Anyway, I wanted to start with what we've warned you about. and just recently and we've done it on several occasions

we've warned you about don't be the last one in we've warned you about no sales hype touts we have said to you under no uncertain terms

that we do not know how it's going to play out in the short run. We do not. But we have also said in no uncertain terms that we do know how it ends up in the long run. But we do not know when the long run occurs. This is from years and years and years of study of bare marks. And part of bare markets are, number one, in bare markets, any company losing money, the stock's going to be crushed. But also, companies with no sales that every now and then, the sector gets hyped and can go crazy to the upside.

But when the music stops, if nothing changes and they're still doing no sales, that eventually they're going to get them. And we have been talking about especially recently quantum computing stocks with no sales or very little sales that are showing billion dollar market caps, some with five billion dollar market caps. Again, no sales, five billion dollar market caps. We've been talking about robotaxy companies. And by the way, some of these started as SPACs. Space companies, drone companies. They've been nuclear companies with no sales. These stocks have gone, wow, to the upside.

And we get asked all the time, is there any way of seeing these things? The problem is usually, and I pretty much are on top of a lot of things, I don't even see them until they're already up. Let me put it this way. There are some that started at $3.30. I don't look at 30 cents stocks.

There are some that started at $3. I don't look at $3 stocks. So yesterday, the CEO of NVIDIA stated that quantum computing ain't going to be anything for 15 years and maybe as long as 30 years. Uh-oh. so let me go to the scoreboard for you today symbol if you don't mind I'm not going to give out the symbols this one's down 31% down 11 to 2461 it was $53 about seven days ago so 53 down to 2461 they have no sales this one only has 160

$61 million market cap, not as bad as others. How about this one? This is a one that went down 26% today, $1.88 to $5.28. This one started at $35, never traded. When as high as 11, about eight days ago, it's been cut in half already. How about this one? Down 43% today, down $7.58 to $9.91, was $27.15 about three weeks ago. 27 down to less than 10. But it was a dollar early November and never traded.

That still has a $1.1 billion market cap. Up next. We'll put a bow tie on this. I'm Gary. This is the one only investor's edge. Hi, I'm Gary Kallbaum, 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 complementary portfolio review. The number to call is 888-4-2-5-59. That's 888-5-5-9. That's 888-4-2-5-9. Investment Advisory Services offered through call-bomb capital management. 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 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. Amazon Hub Delivery wants to partner with your business. Help your business. Help your neighbors. Discover a new stream of income for your business when you partner with Amazon Hub Delivery. team will deliver Amazon packages to customers in your neighborhood on a schedule that works for you and you'll be paid for every package you deliver. Getting started is easy. There's no delivery experience required, no long-term contracts, and you receive weekly direct deposits. Earn more. Gain exposure for

your business. Apply today at Amazon.com slash hub delivery. That's Amazon.com slash HUB delivery. Know a local business that would make a great partner, a local coffee shop owner, florist, automotive shop, dry cleaner, you name it. Refer a business today and earn $500 when they successfully join the program. Visit amazon.com slash hub delivery to learn more or refer a partner. That's amazon.com slash HUB delivery. Now looking for hub partners in your area. Hey, it's Ryan Seacrest for Albertsons and Safeway.

It's stockup savings time now through March 31st. Spring in for store-wide deals and earn four times of points. Look for in-store tags to earn on eligible items from Celsius, body armor, ORA-Aida, silk, Capri-San, Bavarian Meets, and Charmin. Then clip the offer in the app for automatic event-long savings. Stack up those rewards to save even more. Enjoy savings on top of savings when you shop in-store or online for easy drive-up and go pick up or delivery.

Restrictions apply. See website for full terms and conditions. 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 Coltbaum.

It doesn't get better than this. And walk once again to Investors Edge. Let me go to the next one. The next one closed down 36% today. Down $350 to $6.9. It was 11.5. About seven days ago. So it's down about from 11.5 down to 6.

This was a dollar early November and hardly ever traded. It's got a $1.1 billion market cap still. How about the next one? And these are all quantum computers. 44.9% down today, down 8.5% to $10.14.14. cents. It did hit 21 two days ago, so it's down over 50% in two days. It has a $1.9 billion market cap still, even with the drop. How about this one down 30% today? $13.68 to 31. It was 90. And by the way, this went from three to 90. I'm not making this up. It went up 30. 30 times. the money. But the day it hit 90, it closed at 70. And that was about six days ago. It's already 31. So God bless you if you got it at three. The only problem at three bucks, it didn't trade.

And interesting enough, this stock has been public forever. And loses actually has some sales, but loses a ton of money. So we had no idea that these things. would get smoke today. We had no idea. We had no idea. But they did. And how is something able to drop 40%? Well, when you have no sales, you have that ability.

Now, under no uncertain terms, let me state for the record. That was a cough. I have no clue what happens from here. Maybe they bounce them up on Friday. By the way, the market's closed tomorrow. maybe they keep going down. I just know if nothing changes, they're mostly all going to go back to where they came from.

So just be careful. There's a lot of money to lose in the market if you're not careful. And I think because of what happened there, they also took down nuclear stocks today, down 12, 13%. not bad but still down 13 but i'm noticing one i'm looking at one that has 3.2 billion of market cap and not a freaking sale and started as a spack so let me be a little repetitive i have absolutely no clue what is going to happen in the near term i don't know if they ramp them back up i don't know if they

keep selling them down i just know based on press throughout history, what ultimate outcomes are of companies that have no sales. Now, we've also told you that in biotech land, we've seen some no sales biotechs bought out for $5 billion by drug companies that obviously have a lot of cash. I'm not so sure anybody's buying up a quantum computing company or a drone company or a robotaxy company with no sales for a that amount of money. So I just wanted to start with that because it happened.

And up front, we are telling you we had no idea it would happen soon. But you were warned. You were warned. And guess what? There'll be others. There'll be other themes

that come out of nowhere for whatever reason that make no sense. where people are saying and asking, how can that be? How do you have a $5 billion market cap with no sales? That's Winston in the background. And we'll alert you to those also going forward. We will keep you apprised on these stocks, these areas going forward also.

And who knows? I may find one that I think, oh, look at that. and it's going to be big stuff, and they're going to grow their earnings and revenues like crazy. But as of now, most all have absolutely no sales whatsoever or very little with ridiculous market caps. If things change, we'll let you know. Next, I don't even know how to describe today. advanced declines on the NASDAQ were 2 to 1 negative with the NASDAQ only down 10 and the NASDAQ 100 up 8

the Dowd finished up 106 it was flat with like 15 minutes to go and they jumped it up and you know what helped today United Health one of the managed care stocks that had just been blasted managed care stocks bouncing a little bit we'll see how that goes that was about 65 Dow points today. So that helped the Dow and just a few other bounces here and there.

But the advanced decline's not great, S&P up a little bit. The semiconductors were weak again. At the end of the day came back a little bit. I'm still stunned by the Nvidia move that it broke out, gaped up and failed miserably yesterday. As you know, we made big money in 24. We were. Off of NVIDIA, didn't make big money off of it yesterday. I can tell you that. And we'll see how it plays out. We had one person asked, don't you think Nvidia's going to, quote, unquote, and we said we don't know. And we do have to recognize, ladies and gentlemen, this is of import, the greatest stocks can turn into the worst stocks.

The greatest stocks can turn into dead stocks. the greatest stocks can correct 25% and don't have to be in a bare market for stocks so we'll see how that plays out it definitely hurt the semiconductors yesterday and crushed the NASDAQ yesterday and I'm agnostic near term

what happens from there as I look at the rest of the market today you had some bounces and some weak stuff little bounces in medicals, little bounces in big biotech that have been trashed, little bounces in housing, little bounces in insurance, little bounces, defense stocks had a good day, did a war breakout or anything, or the fact that these stocks have just been blasted? Up next, what else in the markets? This is the one only investors' edge.

Hello, hello, I'm Malcolm Gladwell, host of Smart Talks with IBM. I recently spoke with IBM's new director of research, Jake Mbeta. 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 a

have a legacy of building stuff, 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. 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. Amazon Hub delivery wants to partner with your business. Help your business. Help your neighbors. Discover a new stream of income for your business when you partner with Amazon Hub

delivery. You and your team will deliver Amazon packages to customers and your neighbor. on a schedule that works for you, and you'll be paid for every package you deliver. Getting started is easy. There's no delivery experience required, no long-term contracts, and you receive weekly direct deposits. Earn more. Gain exposure for your business. Apply today at Amazon.com slash hub delivery.

That's Amazon.com slash HUB delivery. Know a local business that would make a great partner, a local coffee shop owner, florist, automotive shop, dry cleaner, you name it. Refer a business today and earn $500 when they successfully join the program. Visit Amazon.com slash hub delivery to learn more or refer a partner. That's Amazon.com slash HUB delivery. Now looking for hub partners in your area. Hey, it's Ryan Sechrest for Albertsons and Safeway.

It's stockup savings time now through March 31st. Spring in for storewide deals and earn four times of points. Look for in-store tags to earn on eligible items from Celsius, Body Armor, Oira Ida, Silk, Capri-San, Bavarian Meets, and Charmin. Then clip the offer in the app for automatic event-long savings. Stack up those rewards to save even more. Enjoy savings on top of savings when you shop in-store or online for easy drive-up and go pick-up or delivery. Restrictions apply.

See website for full terms and conditions. We're listening to. America is talking. Investors Edge. He's got to be pleased with that. The crowd is just on its feet here. He's a Cinderella boy. Gary Colbubbom

It comes highly recommended You're going to feel better if you talk to him And welcome once again to Investors Edge Again tomorrow We'll play Best of Gary It is day off

To honor President Jimmy Carter And I think they did it for Reagan also Didn't they do it for Bush too I believe Yeah I think they did It's the right thing to do

If I was running the joint, I'd do the same thing. It is a very small club of people that have been president's United States, and you may hate somebody or love somebody. That's the way it is. They get honored. And, you know, we've made comments on Carter about his after presidency. And we think that's what he's going to be remembered for. for mostly. And that's that.

Tomorrow. People have been asking me about my, so as I've said, I am completely 100% back in health. You know, when you get a certain age, all kinds of things show up. So I'm back to my real working out and stuff.

And I told you, in January, I'd be doing 350,000. incline trainer steps. Well, I'm on an incline and I'm walking, sometimes jogging. 350,000 is actually five pounds, notwithstanding anything else you do. In case you don't, it's, believe it or not, 70,000 steps is pretty much a pound.

Think about that. Anyway, in the first, starting January 1st, I have done 33, 44, 53, 60, 68, 78, 78, 8, I'm already at 100,000 in 1, 2, 3, 5, 6, 7, 8, 100,000. So I'm averaging 12, 5, 5 a day. So I'll have absolutely no problem getting there. And actually, I'm going to try and do even more. and I'm going to take tomorrow and do a bunch. And back to lifting easily. Just so you know what we do every day is 15 sets of whether it's be chest shoulders, back,

buys, tries, traps, legs. I'll do about 15 and sometime a little bit more. And let me just tell you, it works. It works. So just let you know we're. on our way. And by the way, the best workout is incline in case you don't know. You want to get in shape quicker?

Incline. Hills. I still remember in college when I was on the University of South Florida tennis team, we used to climb the steps. It was no fun. All right, this segueing back. Just letting you know, after the close today, Costco came out with adjusted comparable sales, December, up 9.9%, is that correct?

And the stock closed at 927. I have it at 945 in the aftermarket, up 2%. Good move. And if you ever been to a Costco, you know what's going on there. I mean, just stunningly unbelievable. but I don't know how they do it. You know, I really don't. The inventory control that they have to do.

And that, by the way, that goes for any of these big box retailers and retail as a whole. To know exactly, especially the perishables, to know exactly what you need are close to it. It's amazing. It's amazing. I don't think a lot of these companies get enough credit. Anyway, Costco, that's in the aftermarket, even as we close today. Markets mushy here. I can tell you, let's see, Tesla, we bought on December 4th and lucked out 100 bucks made quickly.

tried it one more time, gave back a little bit. We bought Netflix. That was on November 6th made like 115, 120 bucks. Since then, bookus, bookus, bookus. And I haven't tried too much because when there's not a lot of setups, you do less. I did Nvidia stopped out tried the cues

stopped out very small loss by the way tried the semis still in it down and by the way I would I'm always asked by people if you had to do it over again

I'd do it again the semis gapped up on Monday beautifully and Vida gaps up beautifully and turns tail yesterday. Now we'll see if it holds very vital support where it is. If not, I'll see you. But Bupkis since then. And why? Leadership is gone by the wayside. What we mean by that is there are strong names. There are names that are stronger than others. But nothing right now is really getting going. What they are doing is they are walking in place, which nothing wrong with that.

but a lot of names have gone by the wayside. And what we mean by that is they are broken support areas or moving averages, so we don't have to think about them anymore. And what we do right now is we hang our hats on watching. What are we watching? We're watching Broadcom that gapped up and is sitting for one, two, three, four weeks. Hasn't done a thing. We're watching things like Spotify.

that had a beautiful gap up on earnings mid-November and has done nothing for nine weeks but held the 50-day moving average and is flattening out. We are watching things like Decker's retail, even though retail still, but one of the strong retail names. S-AP, German software company that held the 50-day for like the six time on Friday and may be setting up. But nothing is really getting out. And as I go to the new yearly high list in real time, as I am speaking to you right now, I go to something called Market Pulse. I put in H-I for highs. I put in NASDAQ and I got news for you. I have eBay now.

eBay got something with Facebook where you go on Facebook and you can do eBay. So eBay broke into New High Ground today. I'm on the NASDAQ. There's probably another 40 names. A bunch of one, two, three, four dollars names I'm not even going to mention. I'm looking for names that are what I call meaty. You know what? I've got something called Natira, N-T-R-A, a medical research company.

After that, I got nothing else. That's the NASDAQ. That's it. At this juncture. I then move over to the New York. I got Boston Scientific. And boy, that actually set up pretty well and gapped up today on some news. I've got Roblox.

That is definitely showing good relative strength. I've got Com Stark resources. that is an oil that is shown itself. I have Antiro Resources, another oil. I have something called Geo Group, which is security? Yeah, pure security company. Guess what? Oh, I got one more.

Celestica. Oh, that's nice. CLS. That's my whole new yearly high list. on both the major indices, that's it. You know what the good news is for us? We'll just be hanging on this list.

And as new names show up, we'll be ready. And if the market confirms that it's out of the soup, we'll be ready. Right now the market's a little what we call mushy, a little soupy. and of course when I buy a beautiful breakout gap on Nvidia and it fails the next day, kind of sometimes indicative. Hopefully it changes soon.

Up next. What else? This is the one on the investor's edge. Hello, I'm Malcolm Gladwell, host of the podcast Smart Talks with IBM. I 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.

Yeah. Wow. 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.

It's 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. Want to earn extra income for your business? Amazon Hub Delivery is looking for ambitious business owners to assist with local deliveries. When you become a partner, you and your staff will deliver packages to customers in your area on a schedule that works for you. With each package delivered, you'll gain extra income and exposure for your business.

Plus, Amazon Hub Delivery makes it easy to get started. There's no upfront costs, delivery experience, or long-term contracts required. Sign up to learn more at Amazon.com slash Hub Delivery. That's Amazon.com slash H-UB delivery. Hey, it's Ryan Seacrest for Albertsons and Safeway. It's stockup savings time now through March 31st. Spring in for store-wide deals and earn four times of points. Look for in-store tags to earn on eligible items from Celsius, Body Armor,

ORAIDA, Silk, Capri-Sun, Bavarian Meets, and Charmin. Then clip the offer in the app for automatic event-long savings. Stack up those rewards to save even more. Enjoy savings on top of savings when you shop in-store or online for easy drive-up and go pick up or delivery. Restrictions apply. See website. terms and conditions.

You're listening to what are we waiting for? Well, what are you waiting for? One, two, ready, go. Action! In the Gester's Edge. With Gary Culpa. Do-da-da-da.

Hey! So it's the eighth. Twelve days left of Joe Biden. And due to the fact we're running $300 billion monthly deficits, he can't soon enough. Just remember, everything he did was on purpose. 10 million through the border, Afghanistan. And by the way, we tell it like it is, we don't blame him on the inflation.

It just happened, he was just wrong on inflation. We believe the inflation mostly came from Jay Powell, who never gets any, nobody blast him because he's not elected. Of course, it did not help the debt and the mass of spending, which added fuel to, I shouldn't say fuel to the fire today, right? But he couldn't be gone soon enough. And I blame the media. I blame the media. Do you know after President-elect Trump did his speech in a little press conference yesterday? I immediately turned to CNN and you know what they did?

they sat there for 45 minutes calling him a liar. Lie, lie, lie, lie, lie. And I'm thinking to myself, they never called Joe Biden a liar when Joe Biden would say that he cut child poverty in half, a blatant lie. They never said Joe Biden lied when Joe Biden said he cut the deficits. Blatent lie.

And by the way, mentioned a hundred times. They never said Joe Biden lied. Biden lied about anything. When Joe Biden said the border was secure a hundred times, they never called him for lying. So CNN, unfortunately, still sucks. And I'm not talking opinion people. I am talking anchors. Opinion people, both on the right and left, we know who they are. They give their opinions. And yes, a lot of are just purely in the tank, we're talking the anchors that should be reporting the news. We're calling Donald Trump a liar and a whiner yesterday.

They never did that to Biden, not once. It's a shame because they should try to have some credibility on it, but I guess not. What can I tell you? Speaking of credibility, Janet Yellen, you know, the Treasury Secretary that said the problem is tax cuts. She was quoted today. I hope the new administration will take the deficit seriously. So she has been Treasury Secretary during her time with Biden and watched our debt go up, what, $8, $9, $10 trillion to the tune now of $300 billion a month since the, what did they call it, the Fiscal Responsibility Act of last year the debt's up

like $4,000, $5 trillion. And she's the Treasury Secretary and never said a freaking word about the debt and deficits by Joe Biden, her administration. But now we hope the new administration will take the deficits seriously. God, does she suck? And by the way, nothing personal. I'm sure she's a nice woman. Boy, she sucks. And by the way, she was part of the Bernanke printing money, massive debt, massive deficits saying absolutely nothing throughout the years.

One of the culprits. And once she's out of Washington, she'll get a quarter million dollars to speak to Wall Street, which is insane. She also said fiscal policy needs to be put on a sustainable course. Hey, thanks. Joe Biden has taken federal spending the year before COVID from $4.4 trillion up to seven. But we need a sustainable path now. This is from your Treasury Secretary, and you want to know why I'm pissed. And you want to know why I'm pissed.

Next, more companies are buying Bitcoin betting on rewards over risks. I mentioned that yesterday. Didn't I? I think I did. Very worrisome. Remember what I did at the end of the show yesterday, I believe, about Bitcoin. I'm not saying it's not going to a million. I'm saying fact, the last bare market, it dropped about 75%. I also want to mention, and I didn't even realize this, and I've been telling you about micro strategy and the leverage and all that. I didn't realize micro strategy, and this was because they did a split, went from, from $131 down to $13, 90%, in that bare market. And everybody paraded in front of you is telling you have to own Bitcoin. I believe it was JP Morgan that said, yeah, I need 2% of your assets in Bitcoin now. Not a few years ago when it was worth nothing, but now. So we just want you to be careful.

again, we're not saying it's not going to a million. We are saying there's no product, there's no service, there's no earnings, there's no sales. And I don't want to use the word shenanigans, but when companies are now changing their structure to just buy Bitcoin away from whatever they do, or when somebody like a micro strategy is doing convertible bonds at zero percent in order to buy Bitcoin, last I looked, that's going into debt to buy more, at ever higher prices. Well, we'll let you think about that. We hope it works out. We never want disaster in anything.

We have taken no joy on telling you about the no-sale stuff throughout the years that went to dust or the SPACs that went to dust. We took no joy in that. We just try to explain in the markets you need meat. You need things to be meaty. and there's a reason why things like Walmart have done well because they're meaty big earnings, big sales, big stuff insist on that going forward

all right best of Gary tomorrow we'll be back on Friday you have a great evening drive carefully and say a little one for or a big one for those people in California and when you get home make sure you hug your children Stay well, be well. Thanks for joining. Until Friday, peace out.

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 GaryKK.com. Want to earn extra income for your business? Amazon Hub delivery is looking for ambitious business owners to assist with local deliveries. When you become a partner, you and your staff will deliver packages to customers in your area on a schedule that works for you. With each package delivered, you'll gain extra income and exposure for your business.

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