Investor's Edge with Gary Kaltbaum - Whipsaw city [01.14.2025]

Episode Date: January 14, 2025

https://garykaltbaum.com/

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 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. Investor's Edge with Gary Coltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Cultbaum. And welcome once again to Investors Edge. I'm Gary Coltbaum, your host. A thanks for being with us today.

Glad you here, ladies and gentlemen. Happy that you are listening. It's Tuesday, January 14th, 2024. And the Dow Jones Industries is a penny stock. No, I'm not kidding. and we say that sarcastically when the Dow at 245 is up 250 points and drops within 20 minutes the whole 250 points and then 20 minutes later it's back up 220 points but at the open 20 minutes was up 120 points but at the open today was up. Let's see if I can get the number right. I'll find it. The Dow hit, let's see, that's not it. 42525, then drop 375 points to 42157, back up to 4254, back down to 4303-0 and then finish at 425, up another 200 points today, though.

The S&P was hardly up, and the NASDAQ was down 150 points, at about 345, finished down 45 points, because with the Dow rallying up, the NASDAQ went with it. That said, the strongest areas of the last two days have been the weakest areas. Remember what we said yesterday? We thought those areas that had been really weak and had a real strong day yesterday, had more to go. Well, they did have more to go today.

We are talking economically sensitive insurance, financials, transports, industrials. These stocks have been dead. They had gone through what I would call a black diamond as far as skiing is concerned, but two strong days bouncing up. Why, I have no clue, does not matter to me. We'll pay attention to them. There really is no leadership. New Yearly High List in the market is still eh, though I got a few that I'm going to mention.

New Yearly lows are still much more than New Yearly highs. And for the record, tomorrow, Black Rock, Bank of New York, Citigroup, Goldman Sachs, J.P. Morgan, Fargo, Sunovus, Thursday, Bank America, Morgan Stanley, M&T Bank, PNC Bank, Bank, U.S. Bank, Bank Corp. Friday, Regents Financials, Huntington Bank, Shears, State Street Bank, Truist, and in between we'll get a trucker and J.B. Hunt and United Health in the Dow, which is always an important name. So that's the little, hey, we'll start with the market day today. And I will state for the record, even when the Dow went down to flat, advanced declines were pretty good today because the stuff was up today. A lot of meat in there.

We'll see what tomorrow brings. We had an inflation number today, look good, but the bond market really didn't react that. Great. But the market was up. We have another inflation number tomorrow. I have no clue what happens. I will tell you that the NASDAQ remains below the 50-day moving average. The Dow, even with two good days, remains way below the 50-day moving average.

The S&P 500 below the 50-day moving average. The midcaps trying, I think the midcaps probably put in a low for now, but below, and so is the small caps. Both of those tagged the long-term 200-day and have bounced, and that's movie importante, may I state for the record. So we started with the markets, and to introduce ourselves, this is Investor's Edge. Serious talk on everything that affects you. We do the markets, the economy, your job, your industry, the Morlocks, industry, the Morlocks, DC and boy they were out in droves today. We'll get to that in just a minute. We do the debt, the deficits, the corruption, the slees, the slime, the inflation and everything else at a son.

With no bias agenda, ulterior motive, we will rip the Republicans, we will rip the Democrats. We will compliment the Democrats whenever they do something right, which is quite random, and we will complement the Republicans when they do something right. We have taken down Donald Trump on the things he does wrong. We have complimented on the think he's done right. And we are wishing him the best. We are behind him 1,000% to hopefully he does great things. That is our hope.

And we'll also try and contact them when we think they need help. And I gather sometime during the four years, there'll be things to discuss. But what I want to start out with is, first off, Los Angeles. They're supposed to be major wins in the next couple of days, and they're all very, very worried about recurrences, even though the fires are still going on. They now have estimates of possibly $250 billion in losses. Boy, I hope that's not right. As I have told you, I've spoken to some people I know that live just south of there. you can't get in there

but I guess they got some picture all I know is just utter destruction miles and miles of destruction I always say here when hurricanes hit Florida and I talk to Floridians or wherever else hurricanes hit just know they have no bias you may be rich you may be doing great they will take you down

Well, I got to tell you, they took down a bunch of $10 million homes, $5 million homes. It did not matter. We're wishing them all well. This one's going to take a while, just like in Maui. I think they're still moving stuff in Maui. I don't think they're even constructing things as of yet, at least when I was there recently, that's what I was told. We are not allowed to make the turn into Lahaina to see it. stunning, just stunning.

And as usual, the politics of it is just plain old stupid. Some of people were blaming Trump. That's the funniest thing I've ever seen. Anyway, we'll keep covering it as it's played out. Next thing I have to cover. And again, this is about the election and where we're going, where we're moving forward. And remember, I call myself Mr. Logger because we're just logical here. When you have no bias, you can just be very logical.

and they were doing a big thing on the defense secretary. Pete Hick-Seth was nominated by President Trump. Pete Hegseth has been on Fox News for a while, host of Fox and Friends. I can tell you, I've been in the studio there a zillion times. I never met him. There's a different area where they hold those shows. And I'm usually not there on the weekends from 6 to 9 or 6 to 10. You know where I met Pete Hexeth?

In Israel. I'm sitting there with my wife walking in old Jerusalem, and he was taping a show for Fox on Israel. And I don't know exactly what it was about. And I walked up to him and introduced myself. He didn't know me, even though I've been on longer than him on Fox. But I introduced myself. He was very nice. he had a run because he was in the midst of doing a documentary.

That's when I met the guy, so I know nothing of him except what said. But here's what I love today. This is what I've been thinking about, and you tell me if I'm wrong. Under Bush, we had Rumsfeld, and they just, I'm not going to use the word. I'll just use the word screwed. one of the worst screw-ups of military from defense secretary on down

ever and that was Iraq not going in and I know what they say it was lies and all that whatever I don't think it was lies but the handling of it they just blew it

so here's this guy a lifer defense secretary military whatever and he just completely screwed up how about Obama. The Syria red line that he promised, not, didn't happen. How about kissing the ass of Iran? Oh, they did that. I mean, Syria, didn't they do the mustard gas during his time? How about Biden? Oh, Afghanistan's pretty damn good. And nothing's going on around the world while Biden was president. Nah, nothing happened with Hamas and Israel. Nothing happened with Russia, Ukraine. Nothing happened in Afghanistan, right?

but yet they want to go after Pete Hegseth. You got all these defense secretaries there arguably sucked, but let's rip this guy. And I noticed a couple of senators were querying him on the fact that Pete Hegseth, by the way, we're not defending Hegseth. We're kind of ripping the others because if he's nominated, we hope he does a great job. We're all for it. a couple of Democratic senators were querying him. I guess he ran a charity type thing.

Wait to hear what they were querying him on. That's up next. And then back in the markets. 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 888-4-22-5-59. That's 8-8-8-4-2-5-9. That's 888-4-2-2-5-9. Investment 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 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. 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 HUB delivery. Hey, it's Ryan Sechrest 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. So, I just want to let you know they're querying him on how he handled the money for this not-for-profit. And that I guess they ran into some debt or deficits.

Senators from our country who have taken us to $36 trillion of debt. running $300 billion a month deficits right now. The Biden administration is running $300 billion monthly deficits the first two months of the fiscal year of 25. And they have the grapefruits to query this guy, Heg Seth, on debt and deficits for a company he was running. These miserable failures on our treasure, our debt and deficits,

actually have the nerve to query him on running a business. It's laughable. Which one was it? Blumenthal. How long has he been there? Since 2011, I think we're up $20 trillion of debt since he's been a senator. Oh, but Gary, you know, it's more than just a cent. They're all culpable.

We give no quarter to any of them on either. party, but we have to take issue with the ones that make a fuss about them when they are an absolute unadulterated horror show with our treasure. And this goes from our Treasury Secretary, our President on down. Biden is doing victory laps. I couldn't believe what he was saying yesterday about the economy. $300 billion monthly, I got to tell you, I can get it 7.5.7.000 GDP. I'll just do trillion-dollar monthly deficits. He said he's done a wonderful job with foreign policy. The man is not only nuts. He's insane. It's insanity to listen to this crap that he has hamstrung us like, I cannot believe. I must tell you it's going to be a magic act by Vivek.

and Elon trying to unwind this nightmare that they put us in. And I mean that quite sincerely. Big time, sincerely. I don't know how you get the crap back in the goose, as they say. Government spending at $7 trillion when the year before COVID was 4.4. Government spending higher than the COVID years. and don't believe the lies it's all entitlement spending. That is a lie.

They increase the size and the scope of government like crazy. And just so you know what's going to happen, up front, let me state for the record, when they try to cut any government spending, They're going to lie and say they're taking money out of the mouths of children and the food out of the mouths of children and the elderly. It's all a lie. There's like 100 welfare programs doling out trillion plus. And this man has opened up the spigot on everything.

He took 150 billion of our tax dollars to give to people to pay off their contracts on loans. Which, by the way, I don't mind him doing it for policemen and firemen and things like that. I actually don't mind that. Jimmy Carter, may he rest in peace. You will now no longer the worst president of the last 50-some-odd years. Oh, and by the way, today he lifted Cuba's state-sponsored terrorist state moniker. Does this guy just hate us? They just want to kick us in the grapefruits as he walks out the door?

Seriously. Release people from Gitmo. Murderers get rewarded off a death row. And $300 billion a month deficits. Done on purpose. I'll leave it at that. Ladies and gentlemen. All right.

Back on markets. The big story going forward. is going to be the financials, which are acting a little, actually decently better the last couple of days, holding support and trying to turn up, below moving averages and resistance. We'll see the reactions. Normally, these companies do not miss numbers. They're the greatest bookies of all time, the greatest bookies of all time. And we'll see what happens there. And then we will head into all the technology companies in the next three weeks and we'll have a much better idea of what's to come.

We are agnostic at this point with major indices below moving averages, but improvement and what I love today, three to one, advance declines to the positive on the New York. Not that great on the NASDAQ, but not bad. though good comeback at the end of the day. What we'll be watching for, though, very important, is that 10-year yield, which only came down a little bit today.

Huh. I expected that to do better. Maybe that'll be tomorrow. Maybe that'll be tomorrow. Do I think the worst is over the correction? I need some more cards coming out of the deck, but I have to tell you. I like the fact that the Dow broke

below a few weeks ago and is back above. I like the fact that the S&P broke below and almost above. So there are some things that are better. And the worst areas, and I must state for the record, the worst areas that we told you to avoid two pretty darn good days in a row. We said yesterday, that was the first day, and we said also we think they're going to go higher, near term. after huge drops. Well, I can tell you today, it was a strong day. Sing some, let's call it, three and four percent moves in some economically sensitive stuff. Tomorrow be another day. Still plenty of work to do. And watching that 10-year yield. Up next, oh, I got a list. This is the one that only investors edge.

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 data. 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. 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. 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 HUB 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 the points. Look for. in-store tags to earn on eligible items from Celsius, Body Armor, ORAIDA, Silk, Capri-Sung, 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. Just on his feet here.

He's a Cinderella boy. With Gary Colbomb. It comes highly recommended. You're going to feel better if you talk to him. And welcome once again to Investors Edge. I'm looking at that five-minute chart today. It's just markets all over the place. But when all is said and done, a better finish,

when all was set and done, the worst areas. This is, let me tell you the good news. The worst areas have come off the floor. I think there's a chance. A better chance that yesterday was a pretty darn good low for now. I do also want to mention the new yearly high list in the market is very small. There's a bunch of oils on the new yearly high list. Oil prices today were down a little bit, but oil stocks were up for the most parts.

I don't like the fact that oil prices, just so you know, oil prices have gone up about 15% in about six weeks. So it's going to be affecting you with the pump, if not already. But better. What was weak today? Retail. Some big biotech, and that's an area we've been telling you to avoid. I don't know what's going on there. And I don't know if it has to do with, you know, the health care.

areas have been very weak since Trump won. The talk of health care spending and the insurance industry and payments, all I can tell you is biotech stocks regeneron today down $26 to $690. The list goes on and on of the bare markets in big biotech. And that includes Amgen, that is. gone from 346 to 267 in the last six months, which takes me to the next part. It's stock market lesson time from Gary, if you don't mind. We did a little lesson with you yesterday again about we had warned you about the nuclear stocks,

the quantum computer stocks that unfortunately we thought the moves were just frothed in speculation into no-sales stuff and we had said what we always say about no sales companies that eventually they go back to where they came from if nothing changes if they continue to do no sales and it just so happens they've been blasted.

And by the way, they bounced today, some of them. Remember the one I said went from 21 down to, close yesterday at 6 in 5 days? It was up 48% today. Not going to mention the symbol to 9 bucks. But that's what happens sometimes. You get wide swings, crazy action, During that time, you can make money if you're right, you can lose your you know what if you're wrong.

We'll keep you up to date. What I do want to bring up lesson time is noise. Let's see. What's been the noisiest drug stock over the last year? That every time I saw a pundit on TV, buy it. You got to own it. Why? Because they have these drugs that if you take them, you lose a ton of weight. When you lose a ton of weight, it helps you. If you're a diabetic, I mean, it's really good. The Ozempic and Govi, whatever they're called. We're talking about Eli Lilly. And the stock had a magnificent move off of that. A magnificent move off of that. It hit a high in 972 in September.

It's 744 today. They lowered their numbers. How can it be that they lowered the numbers with such an amazing drug? That's a damn good question. I don't know. I don't know. Could it be the growth of is waning? could it be others are coming out with the same type of stuff and some with the injectables don't know

what i do know is eli lily said they're going to do 400 million less in the quarter of revenues than expected and markets don't usually like that and the stock's been getting hit the lesson is watch the stock this stock topped out in July was crushed down to 747 rallied back up to the highs and since

nothing but bearish phase as it does what every other bearish phase does it breaks the 50 day the 50 day rolls over and it descends as the 50 day descends above it and every rally into it gets faded.

I don't know what's next up for the stock. I just know is one of those very highly touted names that you just have to own. Don't worry. Put it away. Hold it long term. 972 to 744. And we're not saying the stock is not going to 2.4.

2000 in a year, it may. We deal in real time here and we always tell you there's nothing like change in the markets. If somebody has a great product, if the barriers to entry are not bad, somebody's going to try and beat it out. Better product, cheaper product, whatever that may be. So what I'm hearing is there's competition for this and maybe the market is not as big. I don't know. There's also stories about the side effects. And remember what we have always told you. And we just know the business.

Once you get off of this, if you don't change your lifestyle, you're gaining it all back. And that goes with any type of medicine that brings your weight down or diets. how many diets have come and gone throughout the years. Staying thin or in shape, take staying thin in shape. That means working out, get off the beer and alcohol, don't eat at 11 o'clock at night.

If you eat the party bags of Doritos ain't going to help. Read the calories. And you'll get a feel. You'll be sick to your stomach if you ever go look what you're eating in the calories and the fast food restaurants. And how long it would take to work off some of the things you are eating? You probably hate me right now, huh? Anyway, it started out as a lesson on the market. As a lesson on the market.

Be careful of the big noise. The big noise. I've seen the most highly touted, can't miss, don't worry, put it away, stocks get destroyed. And I still harken back that Citigroup is at a new yearly high at $73. No, it's $7.30. It hit $570 back in 2007. They had to do a re-organ, a restructuring, and a restructuring. That's why it's still down about 80-some-odd percent.

City Group. Nothing could ever go wrong with that, right? Anyway, that was lesson time from your handsome and buffed toast with a little bit of thought process on staying in shape. By the way, I read all the time the articles about the restaurants and the foods that have the most calories. Wow. Up next, what else we got for you? We'll figure it out. I'm Gary. This is the one only investor's edge. 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 Kondo? 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 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 H-U-B 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 stock up 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, Oiraida, 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. You're listening to. What are we waiting for? Well, what are you waiting for? One, two, ready, go. Investors Edge with Gary Culper. And welcome once again to Investors Edge. Some news.

And a little, you know, we always talk about United Rentals, one of the most important economically sensitive name, that it had a good day. yesterday, it was up $40 today. Do you know why? Because they're buying another company. Something called H&E equipment. Amazingly, the stock H&E equipment, which by the way I've never heard of, was up 105% today. They paid over 100% premium in cash for the stock. And I'm thinking to myself, that's going to hurt United Rentals. No, United Rentals went up 40 bucks today. $92 in cash, $4.8 billion.

Wow. Wow. Good on them. United Rentals is still, believe it or not, bearish trend, but obviously two very strong days to the upside to counteract some of the bearish trend as the stock, just so you know, was 900 bucks mid-November. It's 730 today, even with two.

It's 70030 today, and the stock is up 59 bucks this week. That's how much it has dropped. And there's a lot of that in the economically sensitive names that I will be scanning after I'm done with thine radio show. That stood out today because normally, you buy someone usually come down in price. So I'm going to have to read up on that. Why would that be up today?

Bitcoin, as we stated, reversed yesterday to get back above the all-important 50-day moving average. That's ascending and gaped up today. But is now what I would call, let's see, one, two, three, four, five, six, seven, eight, ninth week of range-bound action. but bullishly range bound action because the breakout is pretty much lower. And the holding of that 50-day moving average, mui importante, and we'll keep you on notice. I heard that the dude who runs J.P. Morgan came out and said it was a Ponzi scheme, Bitcoin. I'm just reporting the news. We'll let you decide.

just remember we just tell you the facts no earnings no sales no product no service and 32,000 coins were attempted and are at zero and that girl is being sued the one she came out with a coin and went down 95% the next day idiots

yeah I'm gonna follow some girl that had a meme and I'm gonna buy her coin and I'm gonna lose 90 I'm going to blame her. Don't she just love this world? Blame everyone else. Capital One.

Capital One backlash over a hated tactic that costs customers $2 billion. So let me just explain what happened here. They're being accused of cheating. It's one of the largest in the U.S. Bank. It was sued by the Consumer Financial Protection Bureau. Here's what happened. They promised customers that they're, 360 savings account provided one of the top and highest interest rates, but froze the rates at 0.3%

while rates rose nationwide. They then came out with another 360 savings account that pays money market rates and did not notify any of the people getting 310s of a percent. that now they have the same savings account that pays 4%. So the CFBPB is pissed off and are now suing Capital One Financial. And a message to all businesses out there, Capital One is not only in the crosshairs right now, but look at the bad advertising. I gather Capital One does a lot of advertising, right? don't they do a lot of advertising on TV? They do a ton. They pay for that advertising.

Well, now they get negative advertising because of. We'll see how it plays out. I am not accusing them of anything. I am reporting to you what is being reported. And obviously, this will play out. And by the way, customers sued the bank over the same issue. And that's the story. I had to bring that up. Because as we've told you, these banks are the greatest bookies of all time. The greatest of all time. They're better than the draft kings and

all that stuff. Who I just have you want, it's so nauseating, ladies and gentlemen. You can't watch a basketball or football game without them interrupting with the commercials. They have athletes and celebrities coming at you. Oh, we'll give you a $200 bonus if you come in and bet this, that, and the other thing. Oh, here's some of the bets that we like. But at the bottom, in letters that Superman can't read, if you have a gambling problem, you may want to call this number. So gamble, gamble, gamble, gamble, gamble. Oh, but if you have a gambling problem, and just remember, when these gambling sites tell you that they pay out all kinds of money, no, it's the losers that pay it out.

Remember that. You got that? It's just like the lottery. The lottery doesn't pay you anything. It's the losers that pay you every dime. You got that? Welcome to our government. making a lot of money off of your gambling losses, whether it's lottery and now the proliferation of sports

gambling pretty much everywhere. Make sure if you gamble, you got the money. That all said, crazy day today. You have a great evening drive carefully. 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'll feel better. I promise. Stay well. Be well. Thanks for joining. Tomorrow be on Fox Business Network 1 p.m. Good night, all. Peace out. This has been Investors 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. 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.

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