Investor's Edge with Gary Kaltbaum - Very Good Week In Review

Episode Date: June 30, 2023

Follow Gary on GaryK.com or http://garykaltbaum.com

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Investor's Edge with Gary Kaltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Kaltbaum. And welcome once again to Investors Edge. I'm Gary Kaltbaum, your host day. Thanks of being with us today. Glad you here, ladies and gentlemen, happy that you're listening. It's June 30th, the end of June.

It's the end of June, 2003. Hope you having a good day. Let me get going very quickly. So the Marxist in chief is now in front of me watching Fox News. He's upset. He's upset that the Supreme Court came out and said that to forgive loans is unconstitutional. Wah, wah, wah, wah. So, as you know, me, moi, I have no bias.

I have no agenda or no notoriety motive. The only thing I have a bias to is logic. logic. What a word. What a concept. Logic. So let me explain Marxism to you. And let me explain the word loan to you, because that's the big news today, how the bad mean extreme rights Supreme Court said, wait a minute. You can't forgive loans that you gave out as a government. What kind of business are you? So let me take it down to the least common denominator while the Marxist is talking. What's a loan? You all know what a loan is. But let me give you the exact definition. A property, money, or other material goods that is given to another party in exchange for future repayment of the loan value plus interest and other finance charges.

That's what a loan is. But let me give you the other part of the equation that the Marxist won't tell you. What is a lender? What is a lender? A lender is one who loans. Aren't I a genius? A lender is in the expectation that you're going to pay me back. And of course there are things that can change a little bit.

see, I lend my landscaper a couple of grand because he needs some help with his wife who's ill, and I like the guy, so I'm going to lend him two grand, and he comes to me and says, I'll pay you back by doing your landscape. So he's paying me back with work. Look at that. But what happens if a lender, a real lender, a real lender, lends out money. He or she knows he's never going to get back. Interesting question, huh? Well, that lender is going out of business. Wait, I'm lending all this money and I know I'm not going to get paid back. I'm screwed. I'm out of here. Have a nice life.

The lender will not be in business. It's over and done. What happens if a lender is not very good at lending? What do we mean by that? Well, they keep lending money to people that may or may not be able to pay it back. And what they have this thing at these lending companies, these little factoring, they come out with these little calculators and they try to figure out how much people make and whether they will have the ability. And you know what they also do? They account for people that wouldn't pay. There's always that little percentage that they know is not going to get paid that maybe has to be put in collections. But what do they do?

They means test. That's what a lender does. They means test you. Oh, you want me to give you a home equity loan on your home. Let me take a look. Oh, your home right now is worth $400,000 and you have $200,000 in equity. And you want $50,000. You got it.

Means testing. What a concept. You know what it's called? it's called good business. That's what lenders do. What is bad business? Well, back in 2007, because of the easy money, housing prices kept going up and up and up. And what ended up happening was people could not afford the houses anymore so they couldn't buy those houses anymore.

And the lenders, oh crap, oh crap, oh crap, what are we going to do? our business is going to crap. Well, what they did is they lowered their lending standards. And that increased the bubble and, of course, broke the house down. And you don't, do you remember countrywide financial? They're no longer in business. Why? They lent a good person that I know, $280,000 on a quarter million dollar place in Boccaratone, Florida,

and this person at $10,000 in the bank. and imagine they did this with all these other people and when you have no equity in your home and you have a 30,000 above, they gave a 30,000 in cash on top of the mortgage. It was a heart. What do you do when you know the housing prices are coming down?

And you can't afford it. You drop the keys on the doorstep. And that's where the housing explosion came. Fast forward to the worst crummy, scummy, corrupt business on this earth. Now, I'd take that back. I'd say the Venezuelan government, the Cuban government, the Russian government, they're worse. But we're in the top ten.

What did our government do? They took over student loans. But what did they do? Did they means test? Did they look to see, well, you're asking for a quarter million bucks over the four years, but you want to be an English teacher at an elementary school that pays 45,000 bucks a year. Maybe. That person can't pay it back. But what does our government do? Eh, screw it. It's not our money. It's not ours. Catching my drift. So they gave out all this

money to people that could not afford to give it back. But our government, but our government, government, these Marxist control freaks, no, hey, we got an idea, we got elections coming up, let's just tell all these people that we're going to write the whole freaking thing off. But it's not them writing it off, it's us the taxpayer writing it off. And what are they doing? Those people who paid off their loans, middle finger. Ha! You paid off your loan.

If you didn't pay off your loan, we would have given you the money. We would have just wiped it out. so those who paid off the loans go screw yourself people that didn't take out loans the ordinary taxpayer go screw yourself some of that money's coming out of you that's what marxist control freaks do they come up with crappy business ideas to hand out bazillions of dollars to people that they know can never pay it back and realize that since they're great control freaks, they have their hands on all this money. And if they don't have enough money, they just go into monstrous debt. Joe Biden's debt this year, this Marxist is going to be two trillion bucks. What does he give a crap? And now they're upset that their crappy business acumen and stupidity. The Supreme Court said, in the country, you cannot forgive this debt because it's on the back of the taxpayers. You own it. And,

What does he tell all the people that owes the money? See, what Marxists really do know? We really can control the purse. So they're telling all these students, look what those bad people, the Supreme Court did. Even though you signed a contract, you took out a loan, the contract said you agreed to pay off that loan. This yutz of a Marxist is telling you,

they're bad, I'm good, even though it's not me giving you back your money. It's not me that's going to wipe out your debt. It's your neighbor who doesn't have a debt. And since they know the neighbor's not actually writing a check for that debt, who cares? Well, the Supreme Court cared. They got it right. And, you know, I understand the student now.

I get it. You're being talked to. You're being told, I am Mr. Wonderful. Marxist Biden. I'm going to do everything I can that I'm going to get your debt wiped out to a certain extent. And look how bad

those other people are. He's addressing your wallet. He's addressing may I say the word, greed. And he doesn't give a crap that you signed the contract. What does he care about the rule of law? He's the big guy. Well, that's what happened

today. Up next, we'll put a bow tie on it. and then the markets. Hey, thanks for being here. I'm Gary. This is the one only Investor's 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 complementary portfolio review. The number to call is 888-4-22-559. That's 888-4-22-5-5-9. That's 888422-5-5-9. Investment Advisory Services offered through Colbomb 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 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? My cell phone is a mature technology at this point. How far are we from that point with Conton? 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 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 ache 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 fast. 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.

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. So,

These Marxist control freaks have figured it out. We're going to use other people's money to wipe out debt on people that signed the contract to pay that debt off. And then we're going to get their votes. Because look at us. You have 50,000 debt. We're going to wipe out 20,000. Oh, we're not going to be allowed to those bad, bad people. Forget the rule of law.

Who cares about that? That's the con. That's the scam. That's the bad, crappy, scummy, sleazy business of our government. That's put us into 35 trillion of debt. Go on a 50 trillion of debt. Massive deficits. Corruption.

Do you know the Pentagon is missing like a trillion of two bucks of weaponry that they can't account for? They did an audit. Anybody care? Do you know our government has spent, I have 50 trillion bucks on poverty? How the hell do we still have poverty? I've used some vicious words on these people,

but they are, they're sleazy, scummy, they do nothing for nobody, and all they do is use other people's money, and when they don't have enough, they go more and more in debt, crushing your kids and their kids. Oh, but don't worry, the market was up today. and let me repeat one thing and I'm finished.

I understand. These students were caught in the web of this scummy government. If I'm a student, I'm young, I'm impressionable. You should be smart, though. But if I'm a student, they give me, wait a minute, you're the one who gave me the quarter million dollars. I'm sorry, I can't pay it back. I'm only making 40 grand a year.

The student got caught in the web because of the government. Our government, this is just another piece of the crappy puzzle that they've put together. I get it. I feel for these students. I really do. And I know there's new rules on if you file for bankruptcy, whether you can wipe out student debt. I've got to look that up. I've got to be honest.

I read it before and I think there's some loopholes in there. I'm not 100% on a certain amount. But you know what the Marxist control freak is going to do next? He's going to try to do an executive order. I don't know if it'd get through. So I just had to bring this up because the Supreme Court did two big monumental things. First, the affirmative action. And I got news for you.

I didn't even address that yesterday. I addressed education yesterday. We wouldn't need affirmative action. Need. We wouldn't have affirmative action. if our education from the bottom up was great. They've let us down there too. Government run.

How is it that non-government-run schools are so much better than the government-run schools? I wonder why. Well, the simplistic answer is expectations of the people running the private schools. and the people that are in the class. Isn't it interesting how that works? Not to take away from our public school teachers, I am sure there are bazillion good ones out there. But now some of these school districts are lowering standards,

which basically is guaranteeing kids in those districts to do not as well as others in districts that have higher expectations. These morons at these school districts, So it's just a cesspool of Nutthouse. It's like watching Jack Nicholson and one flew over the cuckoo's nest. Remember they're sitting at the table playing cards. Danny DeVito is there. Didn't you know Danny DeVito was in one flew over the cuckus nest?

A bit a buck. These people are insane. They're economically insane. They had this Federal Reserve going on TV. They just lie out his butt about the Federal Reserve and what they've done. Just lie. I take it back. He's stupid. He probably doesn't know.

This is what we're dealing with here. And when I bring up to you yesterday about how the students, the people that attend the boys and girls clubs of Central Florida, how their grades are so great and they're all graduating, and they come from some tough times in some tough areas. And the reason why they're graduating, because at the clubs, they're taught leadership, mentorship, how they help others out, how to use computers, how to reach for the stars, not for the sidewalk like some of these school districts are doing right now.

It comes down to that. Yet these Muppets in D.C., they don't even care. It's just a game. They get elected, and three minutes later, they're running for re-election, all on the same crap. vote for me, I'll fill up your wallet. And don't worry, it'll come from all the people that work their asses off all their life and became wealthy and successful. We're going to go after them. And by the way, they're all tax cheats and you're not wealthy because they are.

They're screwing you. That's the con. That's the game. That's the circle of nuttiness. And I haven't listened to what Biden said yet because it's on while I started this show. but I'm sure I know, oh, that Supreme Court, they're going to take care on you, we're going to do whatever we can because student this and student that.

And we have these other programs that did this and do that. And you know what? I'll tell you what a good program is. You know what a good program is? Volunteer if you go into the military. You can do certain things, but not cash them out with other people's money. or debt, which they're very good at.

And that's my stance. How logical am I? Anybody want to debate me on this? How logical am I? What's a loan and what's a lender? Government took over as a lender. Ha ha ha ha! Sure.

Now look at them. Oki-doke. By the way, I'm going on an airplane tomorrow. my mom just turned 90 my father's going to be 92 in October I was supposed to be on a British Airways flight to London tonight and I'm going to the airport and I'm going to New York instead I'm so depressed except I'm going to see my parents and hopefully everything goes well my biggest problem again with whatever I got going I can stand I can lay down I can sit upright but if I kind of sit down and get up,

keep the knife. And as I've told you, I've received over 1,100 emails now from you on your back problems. Little did I know how many people have back issues. What respect I have for you. Rest of the show, the market. Thanks for being here.

I'm Gary. This is the one only investor's edge. Hello, 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 it. 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. 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 stomach ache every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just have a stomach ache 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. 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. All right, quick quiz for the hiring managers out there. What's worse?

Being understaffed or being poorly staffed? Well, that's a trick question, because both are recipes for chaos. Either way, just say to yourself, this is. is a job for Indeed's sponsored jobs. You'll get matched with candidates that meet the skills, certifications, and everything else you're looking for. Or go a different way and get no traction. Seriously, sponsored jobs posted directly on Indeed are 95% more likely to report a hire than non-sponsored jobs. It really is a no-brainer. Spend less time searching and more time actually interviewing candidates who check all your boxes. Less stress, less time, more results. When you

need the right person to cut through the chaos. This is a job for Indeed's sponsored jobs. And listeners of this show will get a $75 sponsored job credit to help your job get the premium status it deserves at Indeed.com slash podcast. Just go to Indeed.com slash podcast right now. Indeed.com slash podcast. Terms and conditions apply. Need to hire? This is a job for Indeed sponsored jobs. We're listening to America is talking. Investors Edge. that the crowd is just on his feet here. He's a Cinderella boy.

With Gary Colbub. It comes highly recommended. You're going to feel better if you talk to him. By the way. One last thing. Speaking of bad businesses, ESPN just fired all of my favorite announcers and anchors. To cut costs.

Unbelievable. The best people. They can't. Van Gundy, basketball. I love the guy. They canned them. I think a couple of dozen of really

good. Susie Colbert. I believe they canned her. She's terrific. She started in West Palm Beach, if I do recall, when I live down there. Bad business. They're lucky they do sports. Anyway,

by the way, from my trip tomorrow, I actually planned it out. Okay, I got to drive to the airport. and sit up straight. I got to go on at the airport. I can stand. Then I get on the airplane. The good news is it's a 757. I already got upgraded because I have status and it's a live flat seat going to Newark. So once I sit, I can lay down. That's good. And then I get out and then I got to walk Newark and get into an SUV to go to my parents. Sit up there and then we'll see what happens. The market wrap brought to you by Investment-Models.com. That's Jim Roarback, one of the great market timers.

No gray areas with the man you're either in or out of the market. Was proprietary indicators. Go check it out. Investment dash models.com. The numbers today, 285 on the Dow, 54 in the S&P, 196 on the NASDAQ, 239 NASDAQ, only 10 on the transports. Good advance declines. New highs picked up. I really don't have any complaints.

And I must tell you, we look to see also what. what's moving into new high ground what's doing what how is it doing it and on and on and on and I don't want to sound too bullish I don't want to sound too bearish I'm just going to report to you the news that's all I want to do here you get to figure it out and of course if you want to watch our webcast go check out our webcast we'll do a couple this weekend Number one, the S&P 500, finished at 4,450. That finished above the high by two points on June 16th. Kind of a U-shaped pullback and right back up.

Good action. And I've already gotten emails and people talking, oh, it's end of quarter window dressing. And of course, you know, I'm one of the biggest whiners about that. That said, remember, we are about trends, riding trends, knowing what the trend is until it isn't. My biggest mistake is selling in strong trends. My biggest mistakes. I'm never in downtrends.

I've sold a couple of things in this uptrend that I should smack myself in the head for, but mistakes will happen. This is not just physical, it's psychological. Anyway, that's the S&P. The NASDAQ today finished right near the high of two weeks ago, which was 13-864, closed at 13-787, and both the S&P and the NASDAQ on the pullback held the NASDAQ right at the 21-day moving average, which is the real strong moving average, then S&P almost got there before turning up. The NASDAQ 100, basically the same as the NASDAQ, went down to that 21 day and just rallied off of it. And the finish today, they sold it off a little bit into the close, but it was still pretty darn good.

What else? The Dow. The Dow has been the lagging index by far. It has not broken out yet. That would be 34-712 high of December of last year. It hit 34-582 Fridays ago. It closed at 34-407. It would not take much to break it out of this range.

And, you know, we have this Dow 30. So we can actually look at Dow 30. J.P. Morgan moved above range today. Just because you move above range does not mean you stick or don't stick. There are breakouts that fail. But also when the Dow Visa broke above range. range today. Both by a little bit, not by a lot, but that's of import to financial names. We'll see what comes of it. I can add others, but I think those are the important ones to bring up. Then I go to

Walmart. Walmart has very good pattern here. Actually went to highs two weeks ago, pulled back, and now on the go again. Looks like it'll probably move through. I have to mention Home Depot, which has been a big lagging name, that broke above a little mid-level range in the last week and is still holding. You get where I'm going. And Apple, my goodness gracious, up another four and a quarter today.

Somebody upgraded it today and made up a reason why. That's all I can tell you. But the stock has just rode the trend. We own it. We rode the trend. It's getting away from the trend right now because it's that strong, but we'll take what we can get.

I don't need to go through too many others, but Goldman Sachs had a good day yesterday because financials were a little bit better. Microsoft pulled right back to the 21-day moving average, undercut it a wee bit, up five and a half today, back above. Maybe it's going to run back to the high of two weeks ago, which is another 10 points, we'll see.

So the Dow is getting some names showing some stuff. The Russell 2000, the weaker of everything, was getting whacked back down in the last few days before the last three. Why? They were smacking the financials again. But then, oh, lo and behold, our federal government, our federal reserve says, oh you 23 big banks you passed our stress test and guess what happened so they rallied that up Russell's still very weak compared to the large caps but a very good last three days very good and then of course the technology all I know is they pulled it back to the 21 day moving

average and are starting to rally it back up pretty decently again then you got the semi-conductors right down to the 21 day rallying it back up. And again, everybody's talking what happens to the second half. If the first half is good, the second half is good. We're just going to take it day to day. Because the bottom line is these areas that have been holding and rallying off of, if the market hits a wall Monday, well, we're half day on Monday, by the way. If the market hits a wall on Monday and they start rolling it over and break back below,

those moving averages, support levels. We've got another story to tell you. But right now, all evidence in, the two things I can tell you that's not good. Our sentiment readings are boom, bright red. They're all no bearishness, lots of bullishness. It hasn't mattered. It's been that way for a couple of weeks.

sentiment and that's why we tell you sentiment is secondary price movement is primary so I really don't have much else to tell you the transports oh June 2nd we said to you we thought the broad market I underestimated it when I said the broad market we're talking about transports and construction and machinery and industrials they're not supposed to move They've had some real good moves in three weeks. The cruise lines, insane, straight up the last four days. Carnival Cruise Lines announces another loss, gaps down on Monday, hits 14 on Monday, closes it 1460. That's Monday, 1880 today.

Got three upgrades this week. Norwegian cruise lines did the same. Boom, straight up. And Royal Caribbean broke out first in third week in May at 80. It's 103 already. And of course, the cruise lines are doing very well now. They're coming back in a very big way. Pricing good.

Good to sea. I love cruising. I haven't done it in a while. Last cruise I did, seaborne in Mediterranean. It's a smaller type ship. Oh, it's the greatest. It was the greatest. And with my kids, we took this

what was at a Royal Caribbean in the Mediterranean? Fantastic. Up next, more of the markets. We'll think of something. This is the one that only investors said. Hello, hello. 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 Conton?

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 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 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. All right, quick quiz for the hiring managers out there. What's worse? Being understaffed or being poorly staffed? Well, that's a trick question, because both are recipes for chaos. Either way, just say to yourself, this is a job for indeed. sponsored jobs. You'll get matched with candidates that meet the skills, certifications,

and everything else you're looking for. Or go a different way and get no traction. Seriously, sponsored jobs posted directly on Indeed are 95% more likely to report a hire than non-sponsored jobs. It really is a no-brainer. Spend less time searching and more time actually interviewing candidates who check all your boxes. Less stress, less time, more results. When you need the right person to cut through the chaos, this is a job for Indeed's sponsor. And listeners of this show will get a $75-sponsored job credit to help your job get the premium status it deserves at Indeed.com slash podcast. Just go to Indeed.com slash podcast right now. Indeed.com slash podcast. Terms and conditions apply. Need to hire? This is a job for Indeed's sponsored jobs. You're listening to. What are we waiting for? Well, what are you waiting for? One, two, ready, go. Action! In the Bester's Edge.

with Gary Culper. I can't wait to listen to myself back today. I think that first segment should get an award. And these people in D.C. don't, if they listen to what I said, they would just give me the middle finger. They just don't get it. They're so used to using our money and debt to do their bidding to get reelected that they don't give a crap about logic at all.

Screw logic. We want your vote. What, you owe 50 grand you can't pay? Oh, don't worry. We're going to knock off 20. Wait a minute, how can you knock off 20? You're going to give it to me? No.

John Q. Public's going to give it to you. Or we'll just go to 50 trillion of debt. Can I use a bad word? No, I'm not. I'm going to be next today. I think I already used a few bad words. Okay. What do we have been telling you for a couple of months now?

Don't listen to the boo-birds. Remember, in the bear markets, we were telling you don't listen to the permibals. Remember that. And, you know, the perma bulls are now out there, you know, making fun of the bears. Remember what my world is full of? Charlottans. I watch people on TV giving themselves a pat on the back because the markets up was telling you to buy all the way down.

I saw somebody who was telling you to buy Peloton all the way down, giving themselves a pat on the back and completely forgot about the Peloton. They're so good at that. That's why just watch the market. Pay attention to the market. All the evidence you need is when the market gives. And when uptrends are there, you go with the uptrems, when downtrends are there. you get the hell out of the way of the downtrends. And right now, we're an uptrends.

Some things are in Enfuego uptrens. We're always a little bit wary of that, but I must tell you, normally Enfuego gets really harsh pullbacks. Instead, they just had kind of sort of quiet normal pullbacks. I said on TV today, I was on with Neil Kavu and I said, Neil, if you would have asked me six months ago, I would say no way because valuations, just so you know, historic valuations right now are really high, historical. Add in, we have a central bank that's still raising rates towards 6%.

If you would have told me that six months ago, I would have told you we'd be at 3,200. S&P right now. But that's why we don't predict. We let the market do our bidding. That's all. And if we ever get out of our own psychological way, we'd be unbelievably awesome. Notice that I won't mention, but there's just two stocks that, how do I put this? I bought them perfectly. Made good money on them in a matter of weeks. And I let him go. I broke up with them. And they never really violated anything. I was just worried about a two-day pullback in the market.

And boom, they got going again. You know what I do on that day. Just so you know, and you should do that with everything you do in your life. I have this, it's one of these day minders. You know, you pay 30 bucks or whatever. I go back to that day. And I have a few interesting words I used to describe myself on that day. I won't mention the words because I can't.

And then I write down what was I thinking? Why did I do it? Why didn't I get back in immediately? And that's how you improve. Being introspective is everything. Being your biggest critic is everything. And that's what we do. I learned all this from William O'Neill.

I used to hog his time at the level whatever workshops. to pay a few grand for. I made sure I sat down at lunch and I used to have this list that I used to ask, what do you do when you know you're wrong about something? And we're not talking about wrong on the downside because as you know, we're crazy about the downside. Never lose big. Since we're really crazy about where we buy, we're doubly crazy about where we sell. As we tell you all the time, when wrong, be wrong fast and be wrong small. I had a client call me today that said, wasn't used to it, but was happy about it. A new client.

Because what did we just buy? We bought Boeing, we sold it with a buck loss. Said I wasn't used to it, but you know, I'm actually happy about it. It tells me that you really care about my downside. And of course, other things we bought have done very well. But it's that other thing. One of O'Neill's main quotes is one of the biggest sins in the market is cutting short a monster stock.

And it's not like these two stocks are monster stocks yet. When we monsters, 3, 400% type monsters, they're just getting going. We'll see if they continue. But that's what we do. Gives you an understanding of what we do. And you know what I'm reading this week? Not making this up. Probably for the 18th time, How to Make Money in Stocks by William O'Neill, the 4th edition.

You know what I read last week? The Secrets Are Profiting in Bull and Bear markets by Stan Weinstein. I think I've read that about 10 times. I think I know it by heart. You should get both. Mui importante. Rules. Discipline.

Not the, you got to think long term. I can name 10,000 stocks that if you thought long term, you're bankrupt. Just make sure what you have long term is working long term. You do know Citigroup closed at $46 today. It's $4.60. They did a one-for-10 reverse split. You're catching my drift? The all-time high was $570, $57.

Just a little food for thought. So you all have a great weekend. Drive carefully if you're traveling. Patience. Drive carefully if you're on the planes and the airports of Phil. Just patience. Patience. Monday is a half day.

We may do Best to Gary Monday and Tuesday. I'm going to have to let my produce. or no. Until next week, you have a great evening, great weekend. Happy July 4th, don't play with fireworks. And when you get home, make sure you hug your children. Have a great one, everybody. Take care. Peace out. Bye-bye. This has been Investor's Edge with Gary Cult Bomb on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryK.com. Success starts with your drive. Public University is here to fuel it.

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