Investor's Edge with Gary Kaltbaum - YIELDS TANKING [05.09.2024]

Episode Date: May 9, 2024

https://garykaltbaum.com/

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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 to being with us today.

Glad you here, ladies and gentlemen. Happy that you are listening. It is Thursday. It's May 9th. It's 2024 as life moves on very quickly. Hope you're having a good day. You know, ladies and gentlemen, you know what I forgot? I don't think I've ever told any of you.

And I'm now allowed to tell you. Actually, I think I was allowed a while back, but I never told you. Now, in case you don't know, I don't look my age. Everybody tells me I look 20 years younger than I look. I'm in shape 30 years younger. Around the second week in July, I'm going to be a Gramps. my son Aaron, who we used to play birthday shows for many years ago when he was young, is married, and with his wife, Marissa is going to have his first child.

So just want to let you know that, yeah, Grandpa Gary. Oh, great, fabulous, wonderful. Oh, yeah, great. Anyway, that was a little sarcasm. Hope you are all having a good day. this is a simple show, very important show, on everything that affects you. And we're going to cover some things affecting you. As we have stated to you, we're heading for an election. And as you know, I'm no fan of either.

I'd rather have two different people running for president. I have said to you, I feel like it's the Ebola virus versus the bubonic plague. and I kind of mean it, but it's a binary choice. And there's one thing we do know where we're going with the guy who's running the show. So it must be covered, especially the lies. We have covered all the Trump's lies and BS ad nauseum here when he was president and through recently. But man, oh man, this guy's taking the cake. And we're going to talk about that in a second because he finally did an interview.

yesterday with somebody from CNN. I'll explain the second. But first, we will have serious talk on you and everything that affects you, whether it's the markets, your money, your taxes, your job, your industry, you name it. We will cover it. And if you do not get this radio show in, your city will post it at garyk.com. We'll also post it on our Twitter feed, which is now X. And if you don't follow us on X, you probably should.

should because we're pretty cool on X. And you could also email me. You'd just be nice. Why? Because we're nice. You can completely disagree with us. We can completely disagree with you. But I think we all want the same thing, right? Maybe someone to go a different way. Now, who we won't, who we won't deal with, and that's tick-tac-toe, you can't win so. You don't play the game. And that, by the way, was from the movie war games is these scumbags on the campuses. I am Hamas, they say. That's for another day. So, I don't know if you know who Erin Burnett is, but she is a CNN anchor. She used to be on CNBC, and may I state for the record, she's brilliant. I've watched her on CNBC a few times. She's brilliant. She knows the market's up and down. She knows business up and down. She knows

taxes up and down. She got to interview Biden, but she gets an F-minus on being a journalist. And why is that? Because it's very simple. We want, we think that journalists are supposed to hold powerful to account. And if they lie straight to your face, there has to be a follow-up question. That's all. But they're so afraid that the other side will get pissed off and they won't give any more interviews to CNN that they have to kiss the rear end and that's a shame because you're getting screwed. So here's how it goes. Number one, Joe Biden said he under his watch created 15 million jobs. We know it's a lie. Nine million plus of it was because COVID coming back. He lied straight to her face and she knew it and she did not follow up. He also said Trump was the

worst jobs present in history. Of course, that had to do with COVID. stopping business. She knew it. She said nothing. Not a freaking thing. Failure. As a journalist, let him lie. Then I've been able to reduce the deficit.

She knows that he's the championship belt owner on deficits, on purpose, the size of government spending, you name it. What he's doing is absolutely disgusting and mortgaging the future, killing your kids going forward. she didn't say a freaking word the border really he blamed corporate greed for shrinkflation and inflation

it used to be the Putin price hike no she did not mention that federal spending has gone from 4.4 to 7.5 trillion bucks which could be inflationary she didn't say anything about when he also said that when he came into the White House inflation was 9%

Gargantuan lie. Inflation was like 2%. So he lied his butt off. And Aaron Burnett, anchor for CNN, gets paid probably a lot of money, failed miserably, doesn't give a crap about you, her viewers, the American people, the only thing she gave a crap about, and she probably has the pressure from her head higher up, you have to be nice. You better be nice.

So we'll let you know that we're sending an email and a letter to, to the White House, and we're going to ask those questions. We're going to put in the letter stating we'd like to interview the president, but this is what we're going to be asking. And if you lie, we're going to follow up on it, which means we're not going to get the interview. That's all. So this is what's happening. This is what's going on.

She didn't ask him about his tax proposals that she knows about. He's calling for raising the long-term capital gains from 20% to 44. Boy, that won't hurt anything. A wealth tax. Oh, but don't worry, it's only on the wealthy. Yeah, sure. They'll get away with that. And unrealized gains tax on capital gains.

So in other words, you made $10,000 on that stock, and you still own it. They're going to want money from you. But I don't have the money. Well, you're going to have to sell it. Oh, that's right. Vicious cycle. In other words, the man is insane. he's a Marxist socialist control freak

and these proposals are obscene out of bounds and make Bernie Sanders look like Ronald Reagan the country voted in Bernie Sanders left and we're going to call him out every time and every time he says something we're going to call him out

if he tells the truth we're going to tell you tells the truth if he tells something good we're going to tell you that when Israel got attacked for the first few days we complimented Joe Biden big time on this show. Now he sucks. He has showed himself to be, I need the votes. So screw Israel.

But guess what? Israel don't care. They're going to do what they got to do. There's a ton of terrorists in the southern border. By the way, Egypt won't let a Palestinian into Egypt. One guy got through yesterday, they beat the crap out of them. I don't see any protesters. yelling and screaming about Egypt.

Interesting, huh? Anyway, that's the story. We'll keep covering it. The markets are separate. We'll keep doing the markets. Some good things happen today. We're going to let you know. The Dow has taken over leadership in the market,

while other things are kind of sort of gone by the wayside. We'll see, and we'll cover each and every sector. The most important thing we have to tell you on the market is the big indices are above the 50-day moving average. What do we say to you yesterday? Emphatically. Above the 50-day moving average, potential opportunity, below potential bad. That's all. You cannot ascend if you're below. You can only ascend if you're above. I take that back. You can sit or only ascend if you're above. Below, you either drop or sit. But being below bad, being above good, and us being above the major indices, They are furthering being above, and we'll see if they break out to old highs. That would be great, great news.

That's the story. We'll go over the numbers. We'll go over the sectors. But there's one thing sticking out also. Man, there's a lot of stocks blowing up on earnings. Man, oh man, a lot of stocks blowing up on earnings in the face of the market going up as a whole. Why is that? Well, beats the heck out of us.

The job is just to stay out of those stocks. The other part of the equation is what we told you last Wednesday. Central banks started easing, not by lowering rates, by lowering the amount of unprinting of the printed money. And ever since, interest rates have dropped and dropped again today. And as we have been telling you for a very long while, the market likes interest rates going down. The real market, the 10-year yield.

Not J-Pel The market does not like them going up And you had another good day on yields today Going down to 4.449% And may be making a lower high In yields And that's your mortgages And all kinds of other stuff

All right I had to do that two times Up next, the markets And whatever else 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, will carefully evaluate your personal goals to determine a proper investment strategy.

If your current approach to investing is not getting you to where you would like to be, call us to make an appointment for a complementary portfolio review. The number to call is 888-4-2-5-59. That's 8-8-5-59. That's 888-4-22-55-59. Investment advisory services offered through call-bomb Capital Online. management. 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? My cell phone is a mature technology at this point. How far are we from that point with quantum? By 2029, we'll build the first fault-tolerant quantum computer. That is one that can run a very, very large, large problem. To learn how IBM is building the future of computing, visit IBM.com slash quantum. Amazon Hub Delivery wants to partner with your business.

Help your business. Help your neighbors. Discover a new stream of income for your business when you partner with Amazon Hub Delivery. You and your team will deliver Amazon packages to customers in your neighborhood on a schedule that works for you. And you'll be paid for every package you deliver. Getting started is easy. There's no delivery experience required, no long-term contracts, and you receive weekly direct deposits. Earn more.

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

Now looking for hub partners in your area. Hey, it's Ryan 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 let me repeat. Let me repeat. In case you don't understand. When we talk about being above or below the 50-day moving average, it's simplicity for us.

It really is simple. for us. If you are going south on I-95 from Miami, you're going to Key West not to New York. How's that for simplicity? If you're going north on 95 from Miami, you can't go to Key West, you're heading to. New York. How's that for simplicity? Gary, what the heck are you talking about? well it's very simplistic as I've said to you the market has a certain physicality to it and I'm doing this for the benefit of those that either have heard it a few times and don't get it or haven't heard it before so when you can put out a roadmap of price in the market you can put all kinds of things on that little roadmap they call it

charts in my business. And one of the things we put on there that I learned is something called the 50-day moving average. Now, you would think, what the hell is a 50-day moving average? Well, all it is, instead of me saying to you, well, Oracle closed at 116.64 today. And on that chart, that's where price moved. And let's say it goes to 117 tomorrow. Well, it moves up a little bit tomorrow. The 50-day move and average is the close of the last 50 days. Each day, added up, and divided by 50. And you can draw a line as that average moves up and down. Versus, well, the stock went up and down and up and down and up and down. It smooths things out on the road map. That's all.

And the physicality of it is simple. Bull phases are made up of an ascending 50-day moving average. As price is above it, and all pullbacks are contained by that 50-day moving average and continue higher. Bare phases are when that 50-day moving average is heading down and prices below it and every rally into it fails until it stops failing and of course on the upside until it stops going up that's it

and we have been able to show on this show for years how we're able to just sidestep all the bare markets. And we're not just talking about the Dow S&P NASDAQ, we're talking about sectors. How many times have the market been up, but oil's been in a bare market? We say, avoid the oils. And what do they do? They went down until they stopped going down and turned up. And that's all we're talking about.

That's it. And recently, all the big indices went below the 50-day moving average. and then after a month or six weeks or eight weeks or whatever it is, they've gone back below. Excuse me, gone back above. And that's good news. And what that does, it provides opportunity. It does not mean it's going to go higher.

You can just go above and sit around, do nothing. But it provides opportunity to go higher. Nothing bad can happen. Nothing bad can happen if prices above the 50 day. It does not mean good could happen, as I said. Nothing good can happen when prices below the 50 day. Doesn't mean bads can happen. You can break below and then turn back up.

By the way, we just broke below and it took a while, but we just broke back above. And now we'll see whether the market has juice or not. helped along a little bit today we'll see you broke down on the S&P below the 50 day on give me the date I know I can get it

here on the 15th you broke back above it on the 6th that wasn't long bare markets though I can promise you go through a lot longer

process And now we'll see what the market has to give. That's it. And then there's also the rhyme and the reason. The 10-year yield, which had been rallying up, which caused the correction, are now plunging. Let's take away that word, dropping. Not so sure it's a plunge yet. And that is given a tailwind to the market.

And that's why we watch it closely. that is the direct correlation this market has had for quite a while and this go-round had everything to do with easing off the pedal by J. Powell, another government entity, another miserable failure that has enabled massive debt and deficits with his utter stupidity. But that's another story.

So just letting you know, we're back above, had a good day to day with some more, As always, but a good day today. And how do we describe a good day? Good advance declines. Good tone. Decent areas on the move.

And we'll see what happens. If the big indices can break through to the old highs and above, got another leg up. Will that happen? Could that happen? Sure. All for it. And that's that. Now, I'd like to, the Dow was up eight-tenths of one percent.

I would tell you it was up 331 points. That sounds a lot better, but it's only eight-tenths of one percent. But still good. And above the 50-day moving average. And you got some dead comatose stocks waking up. If there's any issue that I have, volume continues to be light, but price performance continues to act better. The economy is slowing down.

I think this is part of it. The good news is there's no chance of a deep drop in the economy. How do I know? The doubt would be, let's see, we close the 39-3, we'd be at 34. The market's always in front of economics dropping big time. We'll be watching that closely, though, because the trajectory has changed. But the market loves the lower interest rates because of that. right now. Up next, we'll continue with that noise and much more. This is the one only Investor's

Edge. 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. 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. 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, 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. We're listening to America is talking. Investors Edge. He's got to be pleased with that. The crowd is just on his feet here. He's a Cinderella boy. With Gary Colbomb. It comes highly recommended.

You're going to feel better if you talk to him. By the way, let me segue back to something. Because as you know, we're talking the election as we move forward and what's going on. I know, and I'm a small sample. I know some people that know I can't stand either candidate but still tell me how they feel with what Biden just did with Israel they lost the vote

he lost the vote a few of them in Florida which would have no effect because Florida will vote for anything with an R right now that has changed big time used to be a big toss-up but I must tell you some important states of like Arizona. I'm getting some

you know, we're on that great station KFNN there. Ron Cohen the man there. I'm getting some from people that Biden lost my vote. That's it. I was close already, but now I'm done.

I can't stand Trump, but he's getting my vote. That's what I'm getting from people. And let me just state for the record, one state moves here or there, that's it. In case you don't know, it's down to six or seven states at most this point in time. There'll be a couple that fall by the wayside that really go one way or the other. Just so you know, there's a reason why Biden is spending so much money government-wise that goes into government statistics. There's a reason why he's handing out your taxpayer dollars to people that have loans. Please vote for me. Look what I did for you. Little do they know, it's going to come back to

haunt them in the end. So just letting you know what I'm hearing. And I, you know, I got a little radio show here and I got, you know, I'm on TV. So I get some decent contact out there. We'll see. back on the markets. So last year at this time, excuse me, last year July, we corrected as interest rates went up. But then we had a second leg down and a third leg down. Corrections normally have three legs down. Well, this one may be different. And let me state emphatically,

As long as the Dow, S&P, NASDAQ, and NASDAQ 100 stay above the 50-day moving average, there is opportunity. Blanket statement. If they break above the old highs, even better. We also now have, as I have told you, emerging markets and China. On the move. Though trust is low, but they are working. The pullback was, didn't last. Gold.

We specifically told you when we entered and when we sold with profits, we got back in today. We think the correction in gold is probably... Let's put it this way. Anything we tell you we do, we have stops in place. we don't screw around. But we think probably, and that has to do with the market recognizing that Jay Powell's going back to his normal old ways. And he's now very political. Just remember, he's doing all this right now for the election.

I'd say it to his face. He couldn't lower rates because then it would really look political. Let me do it the other way. And so far it's worked. You also have Janet Yellen. pressing it. As the Treasury Secretary, she's doing new refunding of funds on lower, shorter-term paper, the three-month, one year, and not the longer term because she wants to keep longer-term interest rates down. Why? Markets. Why the economy? But there is the artificialness of all this, and the politicalness.

I expect nothing different from these people. These power-hungry maniacs that play God with free markets. That said, we only deal with reality, and it's pretty good. New highs picked up a little bit today. It's very low beta-ish, though, which means not the high flyers. If I told you, let me put it best. Bank America, Bank of New York, American Express, Morgan Stanley, Goldman Sachs, Home Depot had a good day. Caterpillar had a good day. By the way, both Caterpillar gap down in earnings, but's rallying back up pretty quickly.

Home Depot got trashed recently, but, and by the way, earnings down 15, revenues down 3, They report in five days and is still way off the highs, but better day today. It's low beta. It's not like I can come out and say to you. Tesla was up 70 points today. We don't have that. My low beta, what I call stuff screen, quite the red today. Quite the red.

My growth screen, excuse me, my stuff screen was quite the green. My growth screen, quite the red. Got to get my, and by the way, I don't drink. Next up, blowups. Just letting you know, blowups, Airbnb, that blew up today. You ever hear a Duolingo? It's one of these softwares for learning languages. Down $44 today, 18%.

And there's been a ton of them the last three weeks. That's the weird thing for me at this juncture. You don't usually get so many at this juncture, but as long as other stuff is working, terrific. And again, back on the gold, silver also, and the gold stocks are now moving hand-in-hand decently with gold miners when they were very much, the gold miners moved hand-in-hand with the gold, when very much they weren't earlier. You go look at the GDX and you'll see what we're talking about. And of course, gold moves on the easy.

Now, what could be the repercussions? If inflation has been picking up and it has, if inflation is picking up and it has, and all of a sudden the central bank goes easy just to protect the election, is it possible that's going to come bite back? Well, we'll know it if interest rates start backing up again quickly. But so far so good. A job well done. Good reaction on that.

Got a bunch of questions on the Donald Trump stock. In case you don't know, we came out and said the valuations are ridiculous. It was 70. It went down to 22. Do you know it's back up to 54? Wow. Just want you to remember again, nothing's changed. Nothing has changed.

Less than 4 million in revenues with a $7.5 billion market cap. When all is set and done, this will be single digits. Could it go to 1,000 first? Hey, with these crazy markets, anything's possible. but when we go into a bare market again, a bearish phase, all the curtains come down. I think Warren Buffett said about the beware when the tide goes out, the naked man shows up, something to that effect. Oh, I should.

Not a good picture. Anyway, you get the point. And that is not a political statement. The fact is, less than four million revenues, lose a ton of money, no growth whatsoever. The stock's moving back up. if you own it, God bless you. I don't have the grapefruits to own something with less than $4 million in revenues

with a $7.4 billion market cap. Up next, what else we got for you? Thanks for being here. 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? 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, Oira, Ida, Silk, Caparne. Pre-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. Action! In the Gester's Edge. With Gary Culpe.

Boy, I miss Rush so much. And I don't think they're ever going to tour again. God bless them. They have kept their word about touring once Neil Perk passed. Darn it. Glad I saw him many times. And all my favorites now, I know Rolling Stones are, I've seen Rolling Stones enough.

I don't have anybody left to see. All of them either passing away or not to. touring anymore. Or as old as dirt. Man, oh man. I will see Taylor Swift. I was going to see her if I was going to go to Wimbledon because she's playing around London. I think I would have gone into Dublin, Ireland. It's just so you know in Europe, the price for a Taylor Swift ticket is like one-third, if not more, in the United States. She's going to be in Miami, I think in October. The ticket's like two. It's like 2,500 bucks for the crappy seats. Unbelievable.

I just got to see her just for the heck of it. I think it's like an event. But I got nothing. I don't know what else. I'm done musically. What can I tell you? In the news, I'm just going to give you, I think I've done this before. I gave you the names of some Twitter feeds that I follow.

I'm going to give you another one now that I love. because I think going forward one of the things that are going to be very important is price of heavy real estate triple net invest at triple net invest and basically all they do is it's a real estate person

that shares all the things going on in real estate commercially like right now I'm reading from this morning owner of a San Francisco office building may take a shocking 100 million haircut in just five years of a building, 255 California Street. Bought it for 156 million in 2019. Looks like it's going to go for 50 million.

And I just been reading one after the other, after the other. The iconic AT&T Tower in St. Louis has just sold. 1.4 million square feet. Holy crap, is that right? The building was sold by AT&T to a real estate investment trust for $205 million. It just sold for $4 million. No, not kidding. Fort Worth's tallest building trades at a shocking 91% discount in just three years.

137.5 million to 12.3 million. credit bid at an auction. Canadian investor just took a 176 million loss on another San Francisco office building. Canada Pension Plan Investment Board acquired their 45% stake for $219 million in 2015. They just sold it for $43.5 million. Apartment complex, I'm only do one more. Apartment Complex in Tampa sells it a mass of $32 million loss in just two years. previous only paid $115 million or $444,000 per unit in 22.

They just sold for $83 million or $320,000 per unit. Why am I following this morbid crap? It's because these, when you are a debt-laden government and a debt-laden economy, and all of a sudden, all these losses are coming, what's the outcome? You get where I'm going? In case you don't know, here in central Florida,

we have this area called Windermere. It's high-end. I've seen go from hardly any houses to like three, four hundred, five hundred houses. And all the high-end houses, which started out at Fantasyland, oh, guess what they're doing? They're knocking down a half million.

300,000, 200,000, 400,000. It may start to be game on. So I'm watching very closely. Why? It's called the wealth effect. It's simple as that. And we hope it doesn't get worse. We don't want it worse.

But this could be the outcome. Remember what happened. 0%, 3% mortgages, free money, and now we're normalized? The other thing I'm seeing here in central Florida, house is up for sale for 180 days and not being sold. A lot of that going on now. A lot of it going on in South Florida.

Boy, oh boy, in Southeast Florida. Prices in Naples, insane. It ain't going to last. So we'll keep you up to date on it because we want to stay on front of these things. If you remember back in 07, we were one of the few people that stated on TV in here, I'm worried about a housing bubble. And we never got credit for it. And frankly, we don't give a crap.

But we never got any credit for calling it. They let other people take the credit and they get on TV. Look, I called and they didn't. We did. Real estate problems happen when it's, staring you right in the face and nobody cares. Nobody's caring about what I just read to you. And I just read to you five or six things.

There are hundreds of them. And I know you can blame on, oh, COVID and people not going back to offices. Not in rural areas. Maybe in New York City. So we'll see. We will stay on top of it. We will keep you up on top of it. Because when the debt bomb hits, the market will show.

show us the way and we will make sure if the 50 day gets taken out on the big indices to the downside and does not get back up and turn back up, you will know it because we will be telling you and we will be giving you our tactics, how we will be working at it and we're just let you know some underlying crap is going on. But for this second, the drop in yield since last Wednesday has the market recovering a bunch of what we lost, we'll see where it takes us. That all said, I think I did that with one breath. You have a great evening drive carefully. I'll be on with Neil Cavuto tomorrow, noon hour, Fox Business Network, check that out. Same time tomorrow radio show. And tonight, when you get home,

make sure you hug your family, make sure you hug your children. They will feel better. You will feel better. I promise. Stay well, be well. Bye, bye. This has been Investors Edge with Gary Coltbaum on Biz Talk. 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.

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