Investor's Edge with Gary Kaltbaum - Wild Week in Review!

Episode Date: October 14, 2022

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

Hey, it's Ryan Seacrest 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, 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 well, once again, to Investors Edge. I'm Gary Colbaum, your host day. Thanks for being with us today.

Glad you here, ladies and gentlemen, happy that you are listening. It's October 14th. It's Friday. It's Week in Review Day. It's the Wild Week in Review Day. Lots to talk about, lots of disgust. But first, ladies and gentlemen, you know, I never ask anything of you. We only give.

We never ask anything. I'm asking today. I told you the story. There's more to the story. It's an unbelievable story. It's not life or death, but it's the most frustrating experience I have had in forever. And if any of you are in the business

and as any can move anything in the business, I need your help. My parents are 90 and 88 years old. They live in Cliffside Park, New Jersey. I live in Florida. I went to the Home Depot here in Central Florida and ordered them a whirlpool refrigerator. Simple. A whirlpool refrigerator.

To be delivered on a Saturday. By the way, this was ordered 36 days ago. It was going to be delivered eight days later, nine days later. They told me they would call me on Friday. to let me know what time it would be delivered on the Saturday. I call them on Thursday to make sure everything's a go because I flew up to New Jersey to be there when it got there. Friday at 4 p.m. I get an email.

Oh, it's not going to be delivered after I already flew up there. They gave some excuse. I'm a patient guy. I'm a nice guy. They said, we're going to put in another order and we'll have it there in six days. I said, I can't be there in six days. Let's make it in two weeks. no problem Mr. Call Bomb.

Two weeks pass. Guess what? It gets delivered. Two delivery men there supposedly knows what the hell they're doing. I gave them the biggest tip they've ever gotten their life. Everything's all set, Gary. Everything's in great shape, Gary. Everything's hooked up, Gary.

Three hours later, we realized it wasn't. They delivered a defective refrigerator. Okay. I'm still okay. Things happen. What do we need to do about it? Gary, we're going to deliver another one. We're going to deliver it on the 10th.

I said, I can't be there on the 10th. How about the 15th? A Saturday. Done, Mr. Kaltbaum. And we're so sorry. And just to make amends, when all is said and done, we're going to do something about this in a financial way. I'm not sure what we're going to do.

But once everything's done, no problem. Today's Friday. Today's Friday. No call. No email. I call them up. The first young lady says, yeah, it's going to be delivered tomorrow. I ask what time.

I don't see it on here. Oops, there's some notes here. Mr. Colpom, I'm sorry to tell you. It's not going to be delivered tomorrow. What do you mean it's not going to be delivered tomorrow? They were going to deliver it five days ago. What happened to this? And I called them, by the way, it's Friday.

I called on Wednesday. Oh, everything's in good order, Mr. Colpom. It's in stock. Thursday, everything's in good order, Mr. Colbomb, in stock. Ready to go. Friday, note, oh, logistics, this, logistics, that, blah, blah, blah, blah, it's not going to be delivered. 90 and 88 year old. spoke to 10 different people, 15 different people, told them the situation, some emergency. I had to go out and spend 300 bucks on one of these big college refrigerators. Fortunately, that's at their house and it's helping them out big time. But they have no freezer. And not the end of the world, but the 1988 years old. I'm saying to myself, I just went to a Home Depot. The Home Depot. The Home Depot. Who does?

$145 billion in revenue to order a refrigerator. They advertise that's going to be done so well. And I bought a warranty through them, Home Depot. And I buy a Whirlpool. And after I buy it, they say no longer they have anything to do with it. You've got to go to Whirlpool. And then I got Whirlpool, a company that does $22 billion in revenues. And I can't get a freaking refrigerator delivered to New Jersey, and it's 35 days.

Excuse me, I take it back. It was delivered. It didn't work. First delivery didn't get there. Second one got there. It didn't work. Third delivery ain't getting there. It's 36 days later.

98 and 88-year-old can't get a freaking working refrigerator. from Home Depot slash Whirlpool. And here's the shame. The people you speak to on the phone, you can tell they care. The woman I had on the phone today, I think she was going to break out in tears she was so upset. But there was nothing they can do.

Nobody to contact. All they get is little notes scribbled on a computer. and her last words were I can try and reorder and maybe it'll be there in 10 days. 10 days? 10 days? And you know, I mentioned this story before, and this is just the updated story,

I received 100 emails from you guys giving me the same story, and I'm thinking myself, how are these companies staying in business? Oh, that's right. They're freaking monopolies. Home Depot and Lowe's. Who else is out there? Few others?

And they care. Their system sucks. It is the worst freaking sucking system I have ever seen in my lifetime. That as a client, as a customer, I can't get any resolution to a freaking refrigerator. And 35 days to New Jersey, you would think I'd be asking them to deliver it to out of Mongolia. So to any of you out there that are in the business, that know the people at Home Depot, that work in Home Depot, that are upper level on Home Depot, or Whirlpool that can help me out

because I don't know what to do. And just remember, I'm the most patient, I'm the most relaxed, low-maintenance human being on this earth. But it's like, I don't even know who to turn to. To get a refrigerator. So if any of you that are in this business

can help me out in any way, shape, or form to expedize this, I will fly to your city. I will take you and your better half, whoever that may be, to the best dinner you have ever had in your life. I will kiss you and I will hug you and thank you because my parents are 90 and 88 years old and I just want to get a refrigerator. That's it. You would think I was what? I was looking for the Holy Grail. I just want a refrigerator and that has to work.

and the place I bought it from, I can't get anything from. And I'm going to go to Home Depot later, and you know what they're going to tell me? You got to call Home Depot.com. And I called Home Depot.com today, and they're the ones that said, I don't know what to tell you. I don't have an answer for you. They couldn't tell me. If I was their only sale, they would probably care. I take it back.

I think they do care. But from the CEO on down, I don't think they'd. know what the hell's going on. So I repeat any of you that can help me out. And I called up this PC Richard up in New Jersey and they're working on it. They're going to get back to me. But there's something about, you know, how long it takes. I know if I go to Best Buy, it's going to be the same thing as Home Depot.

They farm it out. I don't know what to do. You can email me at garyk.com or gulpbomcom at callbomb.net if you can help me out. And by the way, I tweeted to Home Depot cares and World Pool USA. Do you think one person has even acknowledged it there? You can see if it's retweeted or liked. Nobody, hours ago. Bernie Marcus would be pissed.

Anyway, Serenity now. Serenity now. And you should have seen how calm and collected I was on the phone. The girl says to me, man, I'd be F-bombing me. if I were you. Anyway, thank you in advance for any help you may give me. If you can.

All right. That all said. By the way, I haven't told my parents yet they're not getting it tomorrow. I got to do that after this show. And just remember, they took away their old refrigerator that was working two weeks ago.

That's the other part of this equation. Up next. Hey, everything else. 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 complimentary portfolio review. The number to call is 888-422-559. That's 888-4-2-2-5-5-9. That's 888-4-2-2-2-2. 422-5-59. 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?

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. 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, Oroida, 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.

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, let me circle around a couple of things. Atlanta Fed President, Central banker Raphael Bostic, had to restate financial disclosures for the past five. years. They found violations including, you ready for this? 150 transactions during restricted blackout periods because he didn't understand his disclosure obligations. They sent in a, how do I put it, an oversight committee or oversight crew to tell us, oh, well, we think he didn't do it on purpose. What have we told you, ladies and gentlemen? You and I are indicted for what he did. Them? Not even a flick on the wrist. These are our central bankers, the most powerful people on the earth,

committing insider trading crimes, and nothing happening to them, and nothing happening to them, and nothing happening. They traded on inside information and enriched themselves in the process. We deserve to know every freaking detail, yet they quietly get people to be their oversaw. committee and they have the grapefruits to tell us.

Oh, we didn't find anything. You know, he didn't realize what he was doing. We'll circle back to the central bank in a little bit. They investigated themselves. All you want, you don't think about that. Which takes us to the next part and then we'll circle back. The market wrap is 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. But his proprietary indicators, go check it out. investment dash models.com so first let me preface something we've been right just about on everything and I'm not just talking about price everything you know that right and we'll circle back on that Dow down 403 the day after it reverses how many hundred a thousand thirteen hundred points and it was a bad 403 because the NASDAQ was down 327 and the NASDAQ 100 was down 3407 and the NASDAQ 100 was down 341. The socks was down 101. Transport's 241. Advanced declines were terrible. Up down volume was terrible. Did I say the S&P down 86? Here's the story. Off of a big reversal like that yesterday, what do we say to you?

Very simply, typically off of a reversal like that over a little bit of time you get upside testing. We noted for you how we've had reversals like this in the last year. We had one on January 24th. Which, by the way, the next day was a bad day, and it took four days to rally up a little bit. We had one on February 24th, which really didn't do much, pulled back and then got going, and we had one on May 12th that really didn't get going. But something happened this morning that was easy for me to see, and I pretty much told my peeps around 945, something's wrong. what was that well one of our not mantras not mottos just a characteristic of bull and bear markets you listen to him technology leads up and down and when we noticed how they opened up things hot again and they immediately sold off the semiconductors

something up and then we have this screen just so you know if you were ever in our office you got a bunch of screens and they're separated by areas. One of my screens, you have all the oils, all the autos, all the drugs, all the defense, all the retail, all the transports, all the biotech, most of the big biotech, housing, commodities, staples, insurance, financials, restaurants, semiconductors. And I'm watching all these semiconductors not only go red, but start to sell. off viciously after a big reversal day? And then we have this other screen. Remember, we make these screens because they're import. All the stocks that were leading growth names that topped out last year that keep trying

to rally off their lows, some down 50, 60, 70, 80 percent. And all of a sudden, they start to go red. And then they start to go beat red and then really rent. I'm thinking to myself, uh-oh. one day wonder. And why do we say this? Because technology leads up and leads down. Semiconductors lead up and lead down.

And they just plastered the market the rest of the day. And some of the losses in what we call high beta growth technology software area, just plain old gross. And those were the final numbers. And what's amazing is after yesterday, And yesterday, remember what yesterday was about, it's an outcome of 5,600 Dow points in two months and 3,800 Dow points in a month. You're telling me it's only a one-day wonder? Maybe, maybe not, but today was terrible.

Gross! The NASDAQ was down. 3%. The Dow is only down 1.3%. NASDAQ leads up, leads down. Dow holds up better down, doesn't do as much up. And as I'm going through names and like, holy crap, lamb research back down 25 today, after reversing 40 points off the low yesterday, that's not good.

So I'm just letting you know it was just a gross day. And as we say every day, I don't know what Monday brings. But man, and by the way, we did not act on it. I would have thought today would have get some upsets. testing or at least a controlled backing and filling. Nope. It was the big gigantic middle finger of the market today. And you had some earnings reports.

United Health was up 20 on its earnings, finished only up three. Catching my drift on that? Market bigger than anything else. And of course, United Health being a very important part of the Dow, it's the highest price stock. the Dow so it's the most important stock in the Dow and then there's the word ease ease EASE we think we're pretty good out measuring the ease of movement and what do we mean by that how easy is it to buy up or sell down it felt really easy to sell this off today after yesterday

rate's a big wow for me. Up next, more in these markets. Whatever else, 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. to be the first experiment on it. We say you can leverage what we did.

We're happy to bring out all our learnings, including what needs to change in the process, because the biggest change is not technology, is getting people to accept that there's a different way to do things. To listen to the full conversation, visit IBM.com slash smart talks. Success starts with your drive,

and American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward. Whether you're changing careers, starting fresh, or pursuing a lifelong passion, our programs are designed for people who never stop. You bring the fire, APU will fuel the journey. Learn more at APU.APUS.edu.

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 I. from Celsius, body armor, or 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. You'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. With Gary Colbomb. It comes highly recommended.

You're going to feel better if you talk to him. Welcome once again to Investors Edge. Yesterday on the show, I said that I hope they take this Parkland scumbag murderer and let him out in the yard and domer him. I said that yesterday. Nobody complained for me saying that. The father of one of the young. ladies that was murdered named Fred Guttenberg agreed with me. I feel better. He said he won't think

about the daughter's murderer again until other prisoners have, and I quote him, handled him. And he talked about letting him out in the yard. He echoed what I said. So I feel better now. For the life of me, how a jury does not give this animal the death penalty is beyond me. What does it take for a jury to give somebody the death penalty? By the way, I'm not overall for and enjoy death penalties. But for some things, yeah, yeah, this would be one of them, don't you think? This animal did have had no mercy on young men and women just go into school. Oh, his mental health. He can take his mental health and kiss my rear end. I'm sick of that line also.

Is that mean? I just had to bring that up. I'm surprised about today's market. Remember, the big picture hasn't changed. We have not changed from bare markets since last November. Just counter-trend moves. I just have thoughts that I didn't play. I'm not playing this.

And we have played some counter-tren rallies a little bit. I'm actually very surprised today. And just tells you a weakness. but there's also some cause and effect that I need you to know about. The 10-year yield today finished at 4.01%. That's a new closing high for the cycle. We think that did the trick. The two-year yield finished at 4.5.

Wow. A high for the cycle. we think that's what did it which has me circle back to these corrupt Fed heads central bankers nobody is paying attention to me the person who is in front of this nobody's paying attention to me do you think the headlines or Gary Kaltbaum says

no it's Jamie Diamond says do you think the headlines in the Wall Street Journal is Gary Colpombs says? No, it's Muhammad Al-Aryan says. There's no Colbomb. Forget that we've been right as rain on the central bank. Nobody's even paying attention to us being right as rain and to this second being right

on something that nobody wants to agree with. And here it is again. When Jay Powell was printing money, he had control of the agenda. Because he printed unimaginable amounts of money that took markets over for a time and created the greed and the bubbles and the leverage. Remember that. And as you know, while that's going on, our motto stands loud and clear. Nothing's ever wrong as long as the market's going up.

It doesn't matter what's going to end up happening. Look what's happening now. They didn't care. They didn't care about bringing Rivian out public and trading at the same valuation or close to GM and Ford that have $260 billion, even though Rivian at zero in sales. And of course, Rivian's now $28. We told you at $1.70. It's worth $20. We always warned you, but what about when they don't have control anymore and the market shoots that big finger back?

Well, here's the story that nobody wants to listen to me on. Nobody wants to pay attention to. The markets, the free markets, have taken over the way they're really supposed to. And nobody wants to talk about it because they all want and possibly believe, I don't know why they would, that the central bank's going to save the day again. Why do they believe that? Because they need it. And because, for a time, every time the market went down and he was there to save the day.

the day. Oh, we printed a trillion last week. We're going to add another $500 billion this week. Oh, market going up. There's a problem, though, again. I repeat, we're back the way it should be. The free markets. And guess where the Fed is right now with their rigged market? They're at 3%. The 10-year yields at 4.01. The two-year is at 4.5. The central bank is not even on the playing field. They're not driving the bus. They're a passenger on the bus. They're not driving the boat. They're water skiing behind the boat.

Yet all I keep hearing from everybody. The Fed. The Fed. Jay Powell. Jay Powell. He doesn't matter. And nobody is paying attention to me. And anything I'm saying,

even though we nailed this three years ago. I think that may be good. But that's the story. the market knows they're idiots the market knows their dummies the market knows they're still slow walking what's going on the market is screaming

the market is yelling the market is affecting not Jay Powell not the central banks and the United Kingdom crapped in their pants they were coming out with some logical stuff and if the market went down for a day let's roll it back

and you know what the United Kingdom's doing, they're printing money again, which caused the problem in the first place. And here's the problem. If Jay Powell listens to the masses, hey, save us, start printing money again. Because every time you did it before, the markets went up. What if the next time they print money, the markets crash? Because the free market knows something else is going on. and they are way behind. And if they make the wrong turn on the highway,

then what? Just remember, we've been right, they've all been wrong. We've been early. They've all been late. And we remain stunned that every time we state this, we're ignored. Nobody's printing us up anywhere. Nobody.

They're quoting people that keep saying, once the Fed pivots, everything's going to be fine. The Fed is the doctor that you go to for a broken right arm and they put a cast on your left arm when you go back to that doctor. Yet nobody's paying attention to us. Nobody's quoting us. Nobody gives a damn about us. I don't know if it's agenda driven. they do know us. Anyway,

we'll just keep telling you like it is. They're way behind the real world and the real world is taken over. Up next, this, that, and the other thing and whatever else, I'm Gary. 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 Gambata. 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 Volt-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. Success starts with your drive, and American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills

and confidence to move forward. Whether you're changing careers, starting fresh, or pursuing a lifelong passion, our programs are designed for people who never stop. You bring the fire, APU will fuel the journey. Learn more at APU. APUS.edu. 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,

Oiraida, Silk, Capri-Sun, Bavarian Meats, 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. Investers Edge with Gary Culpa. And welcome once again to Investor's Edge. Just remember they were all cursing each other out on camera and behind the curtains. there laughing their asses off at us. Just remember that. 31 trillion says so.

Brought to you by every one of them. Not kidding. Other news of the... I think I feel like I have to repeat it again. J. Powell rigged all the markets. Distorted everything. Screwed you. You know you're getting 3% on your money markets now.

You were getting zero. Guess who did that? He did it. Imagine one person on this planet was able to dictate that you get zero percent on your money. Think about that, how sick that is. But Wall Street didn't care. Why wouldn't Wall Street care? Because it enabled asset prices to go up.

Yay! Well, now we got the other side of that. We warned you about if they ever got to the other side. And because of the distortions he created and the inflation, he created that now he's fighting, the market is now taken over. real market. And we told you the biggest distortion was in the bond market. We were right. And yields the 10 year, that's your mortgage. The 10 year, that's your mortgage, amongst other things, is over four, he's still at three. The two years at four and a half, he's still at three.

He's nothing. But everybody keeps talking about him because he saved the day so many times. and they think he can do it again, but he can't. The only way out of what you are saying is if the real market yields come down. But they're not because they're seeing things that they don't. And the real yields are understanding that they're way behind, and they're not doing the job. And that's why you sing what you're saying. You pick up the Wall Street Journal tomorrow.

I'm not going to be quoted. Financial Times, I'm not going to be quoted. New York Times, I'm not going to be quoted. Nothing. We're under the radar. And by the way, we're not complaining. We just feel bad. We wish more people followed and listened to what we have to say.

We've nailed this. It was a simple thought process of reading. extraordinary popular delusions, the madness of crowds, and understand bubbles, and where they come from and how they come from, and just add one plus one and get two, not five, and take away all the politics, all the agenda, ulterior motives, and just look straight at the facts. Boom! And we say this, we're stunned today. Today was ugly.

It was ugly 403. Because the NASDAQ, remember, the NASDAQ leads. technology leads. How do we know this? Because it has. We just deal with the evidence at hand. Other news. One of our other thought processes.

Beyond Meat, down another 10% to $13.35. We warned you when the stock was $240 that it was a fad. There was no way it would last. And they lowered numbers. Let's see what they, the latest from Beyond. And by the way, I got nothing against. plants, I'm just not eating them. And I didn't think it would last.

Let's see. Beyond Me, downside guidance. Ready for this? Seas third quarter September revenues of only 82 million when they expected $115 million and full year, $400 to $4.25 when they were expecting $488. They are also reducing their workforce by approximately 200 employees. We've done the Little Economics 101 with you, how we think jobless the unemployment's going to start picking up.

representing 19% of the company's total global workforce. And that's just another one. We just think burgers are better than plants. By the way, I'm not really that big of a... I may have a steak a month. I think I may have a burger every quarter. I don't have a lot of that. I'm a turkey chicken fish guy.

And the black cod at Nobu, greatest tasting food on earth. If you ever been to a nobu, get the black cod, greatest tasting food on earth. Whatever they put into that, man, oh man. So, beyond meat.

Financials, they reported. J.P. Morgan was up five today, finished up a buck 80, but that was the market. Morgan Stanley, though, down four bucks today. That's not a good reaction. Citigroup up 28 cents after being up a few.

Then numbers, well, Morgan Stanley earned. earnings were down 25%. JP Morgan, earnings up 11%. Not bad, but the stock's been dead money. Citigroup, earnings down 24%. That's not so good. So not really thrilled with anything I'm seeing there.

I told you about United Health. Numbers look pretty good. Was up 20, finished only up three. Dow dropped 400 points, and it's in the Dow. Earnings up 28%. That's a good number. We'll keep a watch on it because the United Health has been a tip throw to the tulips compared to everything else and the managed care stocks have held up pretty well most of them not 100% of them but the big story today man oh man these high beta growth software whatever just absolutely crushed on the week with all the wicked dalf still finished up a percent on the week

the s&P was down one and a half percent the nasdaq was down three percent on the week the socks was down eight percent on the week And what's the problem with that? What have we been saying forever? Semiconductors most all the time are big leaders of the market up and down because they're in so many things. So not so sure that's a great outcome of the week. Wish we had better news. Tomorrow, I will be on Fox News during the 10 a.m. to noon hour with Neil Cavuto. discussing a few things. I think we'll be doing a little social security, little energy, little

markets, whatever Neil wants to ask. Don't miss that 10 a.m. to noon. We'll be back Monday at the same time with this show. Monday will be on with Charles Payne 2 p.m. Fox Business Network. And until all that, you all have a great weekend drive carefully. Any of you in the appliance business, please help me out. Have a great weekend. And when you get home, do like we do. Very simple. Hug your pets, hug your children. They'll feel better. You will feel better. Peace out all.

Thanks for joining. Good night. 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. 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.

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