1 00:00:08,069 --> 00:00:13,659 Suze: November 9th, 2025. Welcome everybody to the Women and Money podcast, 2 00:00:13,960 --> 00:00:19,120 Suze: as well as everybody smart enough to listen. Now, before 3 00:00:19,120 --> 00:00:22,760 Suze: we begin, I just want to say, I have a 4 00:00:22,760 --> 00:00:28,079 Suze: special guest coming up in this podcast, so you best 5 00:00:28,079 --> 00:00:32,180 Suze: stay tuned to find out who it is and what 6 00:00:32,299 --> 00:00:34,239 Suze: they have to tell you. 7 00:00:35,418 --> 00:00:40,880 Suze: So today's Suze School is about the lessons of life. 8 00:00:41,900 --> 00:00:46,479 Suze: Because you all have to look at what's been happening 9 00:00:46,659 --> 00:00:51,259 Suze: for approximately the last 40 days. Now, maybe it's not 10 00:00:51,259 --> 00:00:52,200 Suze: happening to you. 11 00:00:52,918 --> 00:00:55,950 Suze: But it is absolutely happening to people. 12 00:00:56,740 --> 00:01:00,459 Suze: And when something happens to people, you have to look 13 00:01:00,459 --> 00:01:05,400 Suze: at what's possible is happening to people, and could it 14 00:01:05,400 --> 00:01:09,018 Suze: ever happen to you, and what am I talking about? 15 00:01:09,839 --> 00:01:14,540 Suze: The lessons of life that you think everything is going 16 00:01:14,540 --> 00:01:18,839 Suze: along great you have a solid job you have a 17 00:01:18,839 --> 00:01:21,639 Suze: paycheck coming in. You own a home. 18 00:01:22,550 --> 00:01:26,260 Suze: You finally reached the American dream of owning a home. 19 00:01:26,800 --> 00:01:29,679 Suze: You have a car that probably you've leased cause you 20 00:01:29,680 --> 00:01:32,099 Suze: don't listen to the Women and Money podcast. 21 00:01:33,730 --> 00:01:37,290 Suze: Maybe you're putting some money away in your retirement account, 22 00:01:37,489 --> 00:01:42,029 Suze: but really, you're counting on that paycheck every single week, 23 00:01:42,529 --> 00:01:45,370 Suze: every single bi-week, or every single month. 24 00:01:46,290 --> 00:01:51,309 Suze: And you really believe because you have money coming in 25 00:01:51,309 --> 00:01:54,330 Suze: to pay the bills, even though maybe you have a 26 00:01:54,330 --> 00:01:55,809 Suze: little bit of credit card debt, 27 00:01:56,550 --> 00:02:00,629 Suze: that you are just fine and you can keep going 28 00:02:00,629 --> 00:02:03,010 Suze: just like that until... 29 00:02:03,739 --> 00:02:09,679 Suze: Until something happens such as the federal government shuts down, 30 00:02:10,100 --> 00:02:13,478 Suze: and now you don't have a job currently, or you 31 00:02:13,479 --> 00:02:16,178 Suze: have to go to your job, but you're not getting 32 00:02:16,179 --> 00:02:17,139 Suze: paid for it. 33 00:02:18,419 --> 00:02:22,669 Suze: And that means millions of people that are counting on 34 00:02:22,669 --> 00:02:26,070 Suze: you to go to your job, so that they can 35 00:02:26,070 --> 00:02:29,089 Suze: get an airplane ride to go where they want to go - 36 00:02:29,429 --> 00:02:33,970 Suze: is getting harder and harder. So what's happening to people 37 00:02:34,699 --> 00:02:39,089 Suze: that worked for the federal government, is starting to affect 38 00:02:39,089 --> 00:02:42,059 Suze: every single one of you and then there's those of 39 00:02:42,059 --> 00:02:47,820 Suze: you who don't have the ability to get stamps. Some 40 00:02:47,820 --> 00:02:50,279 Suze: people still call them food stamps. It's part of the 41 00:02:50,279 --> 00:02:56,320 Suze: SNAP program, but to get food to feed your family. 42 00:02:57,110 --> 00:02:59,240 Suze: And now you don't know what to do, and then 43 00:02:59,240 --> 00:03:02,559 Suze: all of a sudden you find yourself having to go 44 00:03:02,559 --> 00:03:06,380 Suze: to a food bank, even if you've had a great job. 45 00:03:07,389 --> 00:03:10,199 Suze: You're standing in line at a food bank. 46 00:03:11,100 --> 00:03:15,210 Suze: And once again, we go back to the lessons of life, 47 00:03:15,220 --> 00:03:19,660 Suze: and what is the greatest lesson of life when it 48 00:03:19,660 --> 00:03:22,460 Suze: comes to your money, if you ask me. 49 00:03:23,649 --> 00:03:27,169 Suze: It's to plan for the what ifs of life. 50 00:03:28,369 --> 00:03:32,809 Suze: To plan today so that your tomorrow is always protected, 51 00:03:32,960 --> 00:03:36,330 Suze: and what is the greatest way you can protect yourself 52 00:03:37,029 --> 00:03:41,130 Suze: by that very simple eight to 12 month 53 00:03:41,919 --> 00:03:43,169 Suze: emergency fund. 54 00:03:44,000 --> 00:03:47,550 Suze: But that's something like that. But Suze, I'll get to it. 55 00:03:47,889 --> 00:03:50,330 Suze: I first want to buy a house. I want to 56 00:03:50,330 --> 00:03:53,970 Suze: use my emergency fund for a down payment on a house. Oh, Suze, 57 00:03:54,009 --> 00:03:54,699 Suze: you know what. 58 00:03:55,460 --> 00:03:58,020 Suze: I really just want to redecorate this or take my 59 00:03:58,020 --> 00:04:02,600 Suze: family on vacation, or all the priorities that you always 60 00:04:02,600 --> 00:04:07,539 Suze: put ahead of you having your emergency fund, and then 61 00:04:07,539 --> 00:04:08,449 Suze: you ask me. 62 00:04:09,350 --> 00:04:13,070 Suze: Well, it's such a waste keeping that much money in 63 00:04:13,070 --> 00:04:16,790 Suze: a savings account or a money market fund. Don't you 64 00:04:16,790 --> 00:04:20,868 Suze: think I should invest it? And I'm like, no, you 65 00:04:20,869 --> 00:04:25,690 Suze: can't invest it. That's money that you need in case 66 00:04:25,829 --> 00:04:29,149 Suze: you can't pay your bills that must be paid. And 67 00:04:29,149 --> 00:04:31,790 Suze: then you don't listen to me. And then I get 68 00:04:31,790 --> 00:04:34,070 Suze: emails this week saying: 69 00:04:35,029 --> 00:04:39,109 Suze: Suze, I didn't listen to you. I put my emergency 70 00:04:39,109 --> 00:04:43,269 Suze: fund in the stocks that you loved. I figured if 71 00:04:43,269 --> 00:04:45,750 Suze: you loved them they had to go straight up. 72 00:04:47,070 --> 00:04:49,269 Suze: And I'm like, oh my God, which one did you do? 73 00:04:49,320 --> 00:04:51,678 Suze: And then I keep reading, and he goes, well, I 74 00:04:51,678 --> 00:04:54,599 Suze: decided to do all of it in Palantir, and just 75 00:04:54,600 --> 00:04:57,750 Suze: so all of you know, by the way, everybody, Palantir 76 00:04:59,709 --> 00:05:07,440 Suze: went from $203 a share down to about $169 a 77 00:05:07,440 --> 00:05:11,279 Suze: share in a day or two, and that's what he 78 00:05:11,279 --> 00:05:16,450 Suze: put all of his money into? OK. And guess what? 79 00:05:17,140 --> 00:05:21,899 Suze: He was one of the ones who needed his emergency fund, 80 00:05:22,019 --> 00:05:23,359 Suze: his must pay account. 81 00:05:24,309 --> 00:05:28,109 Suze: Because guess what? He was a fed worker and he 82 00:05:28,109 --> 00:05:30,790 Suze: lost his job. 83 00:05:32,130 --> 00:05:34,290 Suze: So the lessons of life. 84 00:05:34,950 --> 00:05:38,450 Suze: The lessons of life are investing in the known versus 85 00:05:38,450 --> 00:05:43,989 Suze: the unknown. What is the unknown? The unknown is, you 86 00:05:43,988 --> 00:05:46,390 Suze: don't know. Are you going to be in a car accident? 87 00:05:46,470 --> 00:05:48,578 Suze: Are you going to be told one day that you 88 00:05:48,579 --> 00:05:51,309 Suze: have a tumor in your neck, and who knows if 89 00:05:51,309 --> 00:05:54,049 Suze: you'll be able to even walk like I was told 90 00:05:54,149 --> 00:05:55,368 Suze: a few years ago. 91 00:05:56,630 --> 00:06:01,899 Suze: All kinds of things can happen, and yet you never 92 00:06:01,899 --> 00:06:06,539 Suze: believe that it's going to happen to you. And when 93 00:06:06,540 --> 00:06:09,489 Suze: you don't believe that it's going to happen to you, 94 00:06:09,779 --> 00:06:14,119 Suze: chances are that's exactly when it is going to happen 95 00:06:14,299 --> 00:06:15,010 Suze: to you. 96 00:06:15,799 --> 00:06:20,679 Suze: Because I've said so many times, money is the most 97 00:06:20,678 --> 00:06:25,308 Suze: important teacher of life. It will teach you more about 98 00:06:25,309 --> 00:06:29,558 Suze: yourself than anything you can learn in school, in a university, 99 00:06:29,760 --> 00:06:34,829 Suze: at work, in books. It will teach you how strong 100 00:06:34,829 --> 00:06:37,600 Suze: you are or how weak you are or how much 101 00:06:37,600 --> 00:06:41,200 Suze: you really want to survive, how much you really want 102 00:06:41,200 --> 00:06:43,260 Suze: to provide for your family. 103 00:06:43,730 --> 00:06:47,790 Suze: It will teach you about your mistakes that you made, 104 00:06:47,970 --> 00:06:51,928 Suze: as you look at your credit card statements, going, why 105 00:06:51,928 --> 00:06:55,010 Suze: did I buy that? Why did I do that? And 106 00:06:55,010 --> 00:06:57,570 Suze: now I'm standing here in a food line. 107 00:06:58,820 --> 00:07:01,589 Suze: It will teach you if you let it. 108 00:07:02,380 --> 00:07:06,260 Suze: Because again you and your money are one. 109 00:07:07,279 --> 00:07:11,640 Suze: So, if you don't have any money right now, you're 110 00:07:11,640 --> 00:07:14,329 Suze: one of those people who are living at this point, 111 00:07:14,559 --> 00:07:16,079 Suze: paycheck to paycheck. 112 00:07:17,709 --> 00:07:22,549 Suze: What it's teaching you is that you haven't protected your 113 00:07:22,549 --> 00:07:28,290 Suze: tomorrows today when lessons of life come your way. 114 00:07:29,209 --> 00:07:34,170 Suze: So, I've asked you, sometimes I've begged you. Now I'm 115 00:07:34,170 --> 00:07:36,170 Suze: seriously going to beg you. 116 00:07:37,160 --> 00:07:40,809 Suze: That I don't care how much you want to go 117 00:07:40,809 --> 00:07:43,329 Suze: on a vacation or you want a massage or you 118 00:07:43,329 --> 00:07:46,290 Suze: want to do your nails every week or whatever it 119 00:07:46,290 --> 00:07:51,653 Suze: may be, you have got to make your number one priority. - 120 00:07:51,653 --> 00:07:55,410 Suze: forget the stocks forget whatever - you have got to 121 00:07:55,410 --> 00:07:59,630 Suze: make it your number one priority to have an eight 122 00:07:59,630 --> 00:08:02,089 Suze: to 12 month emergency fund. 123 00:08:03,540 --> 00:08:07,380 Suze: You should call it your must pay fund, cause the 124 00:08:07,380 --> 00:08:10,880 Suze: money in there are for the bills you must pay 125 00:08:11,459 --> 00:08:13,179 Suze: month in and month out. 126 00:08:14,429 --> 00:08:17,100 Suze: When you get an email from somebody that says, Suze, 127 00:08:18,209 --> 00:08:20,980 Suze: I've been told that if I don't pay my rent 128 00:08:20,980 --> 00:08:25,100 Suze: next week I'm going to be evicted. Can you help 129 00:08:25,100 --> 00:08:27,660 Suze: me with anything to think about what I can do? 130 00:08:28,459 --> 00:08:32,780 Suze: What do you tell somebody like that? Can you just 131 00:08:32,780 --> 00:08:35,520 Suze: try to put yourself for a second in my place? 132 00:08:36,349 --> 00:08:39,820 Suze: A woman who has spent 40 years of her life 133 00:08:40,150 --> 00:08:43,319 Suze: trying to make sure that every single one of you 134 00:08:43,320 --> 00:08:47,619 Suze: is protected, that every single one of you is getting 135 00:08:47,619 --> 00:08:51,760 Suze: the absolute best advice so that you can make your money, 136 00:08:51,880 --> 00:08:55,039 Suze: make more money, so that you can take care of 137 00:08:55,039 --> 00:08:59,400 Suze: yourself if something like this happens when 2008 came along, 138 00:08:59,760 --> 00:09:02,478 Suze: millions of you were able to make it through because 139 00:09:02,479 --> 00:09:05,559 Suze: you listened. You took it to heart. 140 00:09:06,400 --> 00:09:09,880 Suze: And so many more millions of you went, no, no, 141 00:09:09,919 --> 00:09:13,080 Suze: that's all right, it'll never happen to me. I'll never 142 00:09:13,080 --> 00:09:16,419 Suze: be in that situation. I'll always be able to work 143 00:09:16,559 --> 00:09:17,780 Suze: and get a paycheck. 144 00:09:18,940 --> 00:09:21,419 Suze: But the lessons of life. 145 00:09:22,419 --> 00:09:25,700 Suze: I want you right now to take a vow. 146 00:09:26,619 --> 00:09:29,339 Suze: To take a vow that you will no longer be 147 00:09:29,340 --> 00:09:32,820 Suze: so naive to think nothing can ever happen to you, 148 00:09:33,140 --> 00:09:36,159 Suze: that you don't have to plan, you don't have to go, well, 149 00:09:36,299 --> 00:09:39,539 Suze: what if you know what would happen. 150 00:09:40,380 --> 00:09:44,109 Suze: If what if came about, so I want you all 151 00:09:44,109 --> 00:09:47,270 Suze: to take out a piece of paper and pencil. Oh, 152 00:09:47,390 --> 00:09:49,830 Suze: you can use a pen if you want. Go on. 153 00:09:52,070 --> 00:09:55,919 Suze: And I want you to write down everything that you're 154 00:09:55,919 --> 00:10:00,159 Suze: vulnerable when it comes to your money. If you lost 155 00:10:00,159 --> 00:10:03,119 Suze: your job or you were in an accident or you 156 00:10:03,119 --> 00:10:07,840 Suze: got ill or something happened to you, how long could 157 00:10:07,840 --> 00:10:13,479 Suze: you go and pay your must pay bills? Do you 158 00:10:13,479 --> 00:10:18,320 Suze: have at least eight to 12 months in a must 159 00:10:18,320 --> 00:10:21,260 Suze: pay account so that you would be OK? 160 00:10:22,570 --> 00:10:27,289 Suze: Answer that question honestly, and if the answer to that 161 00:10:27,289 --> 00:10:33,090 Suze: is yes, great, but if you answer that question... one 162 00:10:33,090 --> 00:10:37,450 Suze: month or two months, then what are you waiting for 163 00:10:37,450 --> 00:10:39,169 Suze: and I know, I know. 164 00:10:39,750 --> 00:10:43,830 Suze: You're all saying, Suze, I can't afford to save any 165 00:10:43,830 --> 00:10:49,479 Suze: money right now. I can't do it because if I do, 166 00:10:49,830 --> 00:10:53,750 Suze: I can't even really pay my bills. Everything I'm making, 167 00:10:53,830 --> 00:10:57,099 Suze: I use to pay my bills. Here's the question at 168 00:10:57,099 --> 00:11:02,059 Suze: hand then and answer this What happens when you no 169 00:11:02,059 --> 00:11:05,869 Suze: longer have a paycheck coming in? How are you going 170 00:11:05,869 --> 00:11:08,489 Suze: to pay those exact same bills? 171 00:11:09,119 --> 00:11:12,479 Suze: And whether or not it's because of a shutdown or 172 00:11:12,479 --> 00:11:15,400 Suze: you've lost your job or you were injured, what if 173 00:11:15,400 --> 00:11:16,780 Suze: now you're retired? 174 00:11:17,530 --> 00:11:19,809 Suze: And all of a sudden you don't have a paycheck 175 00:11:19,809 --> 00:11:22,809 Suze: coming in, but you never bothered to save, you never 176 00:11:22,809 --> 00:11:25,289 Suze: bothered to put money in a Roth IRA or a 177 00:11:25,289 --> 00:11:29,130 Suze: Roth retirement account because you were using every penny you 178 00:11:29,130 --> 00:11:31,229 Suze: had to pay your bills. 179 00:11:32,320 --> 00:11:34,770 Suze: Then you'll say, well, what do you want me to do, Suze? 180 00:11:35,369 --> 00:11:38,909 Suze: Then get another job or cut down on your expenses. 181 00:11:39,190 --> 00:11:43,000 Suze: You have to possibly then earn more and save more. 182 00:11:44,039 --> 00:11:47,229 Suze: Or you have to earn more and spend less. 183 00:11:48,369 --> 00:11:50,849 Suze: So even if it were just where you were able 184 00:11:50,849 --> 00:11:55,520 Suze: to find $100 a month, well, great, then take advantage 185 00:11:55,520 --> 00:11:59,650 Suze: of the Ultimate Opportunity Savings Account with the Alliant Credit Union. 186 00:11:59,849 --> 00:12:03,869 Suze: You put $100 a month in, they give you 3.10% interest. 187 00:12:04,109 --> 00:12:06,449 Suze: You do that every month for 12 months, they give 188 00:12:06,450 --> 00:12:11,179 Suze: you $100. That's like a 16% return on your money, 189 00:12:11,369 --> 00:12:13,968 Suze: and you might not think that's a lot, but it's 190 00:12:13,969 --> 00:12:16,689 Suze: a whole lot when you don't have anything. 191 00:12:17,570 --> 00:12:21,090 Suze: Which is why I created that account. It was to 192 00:12:21,090 --> 00:12:24,848 Suze: help all of you where every single penny mattered. 193 00:12:25,890 --> 00:12:27,968 Suze: And hey, you can't leave it in there. Don't, I 194 00:12:27,969 --> 00:12:29,840 Suze: don't care. Now, this is not an ad for you 195 00:12:29,840 --> 00:12:33,650 Suze: to do that, but it's a possibility where you maybe 196 00:12:33,650 --> 00:12:34,669 Suze: could start. 197 00:12:36,039 --> 00:12:37,159 Suze: So all right. 198 00:12:38,349 --> 00:12:43,530 Suze: The lessons of life. Please just think about it, everybody. 199 00:12:43,859 --> 00:12:47,270 Suze: Think about it. Look at what you wrote down. Look 200 00:12:47,270 --> 00:12:51,510 Suze: at the excuses for why you feel like you can't 201 00:12:51,510 --> 00:12:51,989 Suze: do it. 202 00:12:53,130 --> 00:12:58,409 Suze: And then understand in life, there is not an excuse 203 00:12:58,409 --> 00:13:02,690 Suze: strong enough to keep you from being who you are 204 00:13:02,690 --> 00:13:08,250 Suze: meant to be, so stop making excuses, all right. 205 00:13:09,109 --> 00:13:13,909 Suze: Now, in the last half of this podcast, we need 206 00:13:13,909 --> 00:13:17,650 Suze: to address what is going on in the stock market, 207 00:13:18,190 --> 00:13:21,270 Suze: because I am sure many of you are, my God, 208 00:13:21,390 --> 00:13:25,190 Suze: look at Palantir, look at IONQ, look at these stocks, 209 00:13:25,270 --> 00:13:28,429 Suze: look at what's happening. Why is it happening? What should 210 00:13:28,429 --> 00:13:30,309 Suze: I do? So, 211 00:13:31,140 --> 00:13:34,699 Suze: to that end, I thought you might enjoy 212 00:13:35,609 --> 00:13:40,439 Suze: if somebody who most of you listen to now, Keith Fitz-Gerald - 213 00:13:40,859 --> 00:13:45,659 Suze: you know Keith - joins us. That's right, I'm gonna in 214 00:13:45,659 --> 00:13:50,419 Suze: a second invite Keith onto this podcast, but for those 215 00:13:50,419 --> 00:13:53,218 Suze: of you who don't know Keith, this is what I 216 00:13:53,219 --> 00:13:54,039 Suze: want to say. 217 00:13:55,010 --> 00:14:01,608 Suze: For 40 years Keith has been absolutely at the forefront 218 00:14:01,609 --> 00:14:02,608 Suze: of investing. 219 00:14:03,609 --> 00:14:08,010 Suze: Working for the major companies. Working everywhere now. If you 220 00:14:08,010 --> 00:14:11,770 Suze: ever turn on any channel on TV, oh, you will 221 00:14:11,770 --> 00:14:16,330 Suze: see him every single morning telling people what they should buy, 222 00:14:16,450 --> 00:14:18,929 Suze: what he thinks is going to happen. He writes the 223 00:14:18,929 --> 00:14:22,530 Suze: Five with Fitz, which is absolutely free, which so many 224 00:14:22,530 --> 00:14:26,010 Suze: of you listen to. I could go on and on 225 00:14:26,010 --> 00:14:28,130 Suze: about Keith's resume. 226 00:14:29,219 --> 00:14:31,770 Suze: But here's what I really want to say. 227 00:14:32,979 --> 00:14:37,650 Suze: I love listening to Keith. I love talking to him, 228 00:14:37,739 --> 00:14:40,580 Suze: and we talk almost every single day. Now. I don't 229 00:14:40,580 --> 00:14:41,700 Suze: always agree with him. 230 00:14:42,650 --> 00:14:46,289 Suze: I don't always feel like, no, I'm not buying Tesla. 231 00:14:46,409 --> 00:14:48,849 Suze: I don't care what Keith says. I'm not doing it. 232 00:14:49,619 --> 00:14:56,099 Suze: But overall I do not know one person who is 233 00:14:56,099 --> 00:15:02,380 Suze: a more astute and brighter not only investor but somebody 234 00:15:02,380 --> 00:15:07,599 Suze: who really understands how Wall Street works in a way 235 00:15:07,700 --> 00:15:11,219 Suze: that really none of us have the ability to do 236 00:15:11,219 --> 00:15:14,500 Suze: so because we never worked in the places and know 237 00:15:14,500 --> 00:15:18,239 Suze: the people that he knows. So are you all ready? 238 00:15:19,130 --> 00:15:22,750 Suze: Welcome Keith to the Women and Money podcast. Good morning. 239 00:15:23,369 --> 00:15:24,239 Suze: How are you doing today? 240 00:15:25,049 --> 00:15:26,690 Keith Fitz-Gerald: Good morning, I'm doing great. Thank you so much for 241 00:15:26,690 --> 00:15:28,929 Keith Fitz-Gerald: having me. We're out here on the west coast. It's cold. 242 00:15:28,960 --> 00:15:30,880 Keith Fitz-Gerald: It's wintry, but you're obviously bright and sunny... 243 00:15:31,289 --> 00:15:35,450 Suze: Kinda, kinda, and all, everybody, just so you know, I 244 00:15:35,450 --> 00:15:37,330 Suze: like to call Keith "Fritzy." 245 00:15:39,330 --> 00:15:44,919 Suze: That's my nickname for him, "Fritzy." So Fritzy, I have 246 00:15:44,919 --> 00:15:48,530 Suze: a question for you, and I'm sure many of the 247 00:15:48,530 --> 00:15:53,539 Suze: listeners are just freaked given what happened in the last week. 248 00:15:53,799 --> 00:15:56,380 Suze: Are the markets going up? Are they going down? And 249 00:15:56,679 --> 00:16:02,280 Suze: what is happening to our absolute favorite stock of all time? 250 00:16:02,320 --> 00:16:03,659 Suze: And all of you know. 251 00:16:04,210 --> 00:16:09,239 Suze: We have been talking about Palantir forever. It went as 252 00:16:09,239 --> 00:16:13,489 Suze: high as 200 something, like, what was it, 203, 204, 253 00:16:13,570 --> 00:16:16,450 Suze: right in there, all the way down. 254 00:16:16,770 --> 00:16:20,159 Suze: In a matter of a day or two after it 255 00:16:20,159 --> 00:16:25,090 Suze: announced record earnings, everybody, which usually causes a stock to 256 00:16:25,090 --> 00:16:29,010 Suze: go up, it went down all the way at one 257 00:16:29,010 --> 00:16:34,609 Suze: point to 169. So then you write me and you say, Suze, 258 00:16:34,690 --> 00:16:38,710 Suze: what's happening? Should I sell? Oh my God. So given 259 00:16:38,710 --> 00:16:43,369 Suze: that it was Keith who recommended Palantir at 7. 260 00:16:45,000 --> 00:16:48,479 Suze: Many of you have tremendous profits in it still. Should 261 00:16:48,479 --> 00:16:50,940 Suze: you keep it? Should you save it? Should you buy more? 262 00:16:51,150 --> 00:16:55,080 Suze: And the real question is to you, Keith, why did 263 00:16:55,080 --> 00:16:58,150 Suze: this happen? Go for it, boyfriend. 264 00:16:58,440 --> 00:17:02,400 Keith Fitz-Gerald: All right, so everybody hang with me, grab a stiff 265 00:17:02,400 --> 00:17:04,839 Keith Fitz-Gerald: drink or a fresh lemonade, whatever you need, because it 266 00:17:04,839 --> 00:17:06,500 Keith Fitz-Gerald: gets a little technical. 267 00:17:06,880 --> 00:17:08,920 Suze: Keith, my people do not drink. 268 00:17:09,540 --> 00:17:12,040 Keith Fitz-Gerald: OK. Well, good. Well, let's grab some lemonade and some punch. 269 00:17:12,400 --> 00:17:12,790 Keith Fitz-Gerald: Because... 270 00:17:12,790 --> 00:17:15,270 Suze: Maybe they do. I just don't think they drink this 271 00:17:15,270 --> 00:17:17,629 Suze: early in the morning, but I don't know if Hoda 272 00:17:17,630 --> 00:17:19,669 Suze: can drink this early in the morning on TV. I 273 00:17:19,670 --> 00:17:21,790 Suze: guess they can too as well. But anyway, that's OK. 274 00:17:21,910 --> 00:17:22,369 Suze: Go on. 275 00:17:23,099 --> 00:17:25,459 Keith Fitz-Gerald: OK, so one of the things that people don't understand, 276 00:17:25,670 --> 00:17:29,630 Keith Fitz-Gerald: we all talk about investing like this, just the specific stocks, 277 00:17:29,910 --> 00:17:32,389 Keith Fitz-Gerald: but behind the scenes, Susie, as you know, there is 278 00:17:32,390 --> 00:17:38,310 Keith Fitz-Gerald: this massive orchestrated structure that is combined with big money traders, 279 00:17:38,479 --> 00:17:39,589 Keith Fitz-Gerald: fast money traders. 280 00:17:39,699 --> 00:17:43,339 Keith Fitz-Gerald: The slow investing guys, the regulators, the leverage bankers, and 281 00:17:43,339 --> 00:17:46,458 Keith Fitz-Gerald: so on, right? It's like watching an episode of The 282 00:17:46,459 --> 00:17:48,900 Keith Fitz-Gerald: Little Rascals back in the day. You don't know what 283 00:17:48,900 --> 00:17:50,698 Keith Fitz-Gerald: Spanky's up to any more than you know what the 284 00:17:50,699 --> 00:17:53,920 Keith Fitz-Gerald: rest of the gang's doing, right? They're just gonna go 285 00:17:53,920 --> 00:17:57,500 Keith Fitz-Gerald: all over the place. And in this instance, you had 286 00:17:57,500 --> 00:18:00,500 Keith Fitz-Gerald: a gentleman named Michael Burry who was famous for something 287 00:18:00,500 --> 00:18:02,619 Keith Fitz-Gerald: called The Big Short back in the day. This was 288 00:18:02,619 --> 00:18:07,160 Keith Fitz-Gerald: in 2007, 2008 when the global mortgage crisis crashed. 289 00:18:07,530 --> 00:18:09,849 Keith Fitz-Gerald: Now he made headlines for saying, hey, I think this 290 00:18:09,849 --> 00:18:12,000 Keith Fitz-Gerald: is gonna be bad news, and he shorted the markets 291 00:18:12,000 --> 00:18:14,709 Keith Fitz-Gerald: and made a gazillion dollars. Well, he did it... 292 00:18:15,890 --> 00:18:18,409 Suze: Just out of curiosity, do you feel like he caused 293 00:18:18,410 --> 00:18:20,688 Suze: the markets to crash back then? 294 00:18:21,520 --> 00:18:23,948 Keith Fitz-Gerald: No, I do not feel like he caused the market 295 00:18:23,949 --> 00:18:28,699 Keith Fitz-Gerald: to crash back then. This time around, and speaking personally, 296 00:18:29,040 --> 00:18:32,280 Keith Fitz-Gerald: I have a very hard time believing that what he 297 00:18:32,280 --> 00:18:34,599 Keith Fitz-Gerald: has done is not deliberate. 298 00:18:35,560 --> 00:18:38,000 Keith Fitz-Gerald: When you are a big trader like this, you have 299 00:18:38,000 --> 00:18:41,680 Keith Fitz-Gerald: to file something called a 13F which discloses your positions. 300 00:18:42,000 --> 00:18:44,349 Keith Fitz-Gerald: And so if everybody's listening out there, imagine going to 301 00:18:44,349 --> 00:18:47,188 Keith Fitz-Gerald: the grocery store because you intend to buy all the inventory. 302 00:18:47,359 --> 00:18:49,709 Keith Fitz-Gerald: You'd obviously have to tell the grocery store you intended 303 00:18:49,709 --> 00:18:52,119 Keith Fitz-Gerald: to do that so the grocery store could reload and 304 00:18:52,119 --> 00:18:54,319 Keith Fitz-Gerald: not mess up everybody else who's intending to go shopping that day. 305 00:18:54,319 --> 00:18:58,400 Suze: OK, now you gotta really speak slowly for everybody because 306 00:18:58,400 --> 00:19:02,500 Suze: I know you're really familiar with all of this, but 307 00:19:02,560 --> 00:19:03,879 Suze: it's when you start mentioning 308 00:19:04,005 --> 00:19:08,805 Suze: and it's technical. This is all brand new, really brand 309 00:19:08,805 --> 00:19:11,204 Suze: new for the listeners. So you know... 310 00:19:11,344 --> 00:19:11,925 Keith Fitz-Gerald: I feel like, I 311 00:19:11,925 --> 00:19:15,534 Keith Fitz-Gerald: feel like, uh, Joe Pesci's character in the Lethal Weapon series. OK, OK, OK, OK... 312 00:19:17,005 --> 00:19:19,925 Keith Fitz-Gerald: I get so excited about this stuff because Suze, one 313 00:19:19,925 --> 00:19:22,165 Keith Fitz-Gerald: of the things that is scary as this is, right, 314 00:19:22,285 --> 00:19:24,204 Keith Fitz-Gerald: I mean just to deviate for a split second, one 315 00:19:24,204 --> 00:19:26,044 Keith Fitz-Gerald: of the things as scary as this is. 316 00:19:26,560 --> 00:19:32,089 Keith Fitz-Gerald: Whenever this kind of stuff happens, it is an amazing 317 00:19:32,089 --> 00:19:36,560 Keith Fitz-Gerald: opportunity for smart investors who can see through the storm, right? 318 00:19:36,819 --> 00:19:40,089 Keith Fitz-Gerald: My grandfather used to say the night is always darkest 319 00:19:40,089 --> 00:19:43,089 Keith Fitz-Gerald: before the sun rises, and in a situation like this, 320 00:19:43,489 --> 00:19:46,209 Keith Fitz-Gerald: that's what we're dealing with behind the scenes because you 321 00:19:46,209 --> 00:19:50,129 Keith Fitz-Gerald: have this big money trader, Michael Burry, who makes headlines 322 00:19:50,130 --> 00:19:53,989 Keith Fitz-Gerald: because he's betting Palantir is the world's biggest bubble. 323 00:19:54,400 --> 00:19:57,089 Keith Fitz-Gerald: And oh my goodness, isn't this terrible. And the media... 324 00:19:57,239 --> 00:19:59,609 Suze: Now wait, wait, wait, stop for a second. How much do 325 00:19:59,609 --> 00:20:02,469 Suze: you think he, he put on that trade? 326 00:20:03,979 --> 00:20:07,060 Keith Fitz-Gerald: I don't know for certain, but I'm hearing in the billions, 327 00:20:07,619 --> 00:20:15,459 Suze: Alright, billions. So before Palantir reports earnings, before anything comes out, 328 00:20:15,859 --> 00:20:17,839 Suze: he goes, and what does he do? 329 00:20:18,959 --> 00:20:21,989 Keith Fitz-Gerald: OK, so before it's coming in, the stock is running 330 00:20:21,989 --> 00:20:23,890 Keith Fitz-Gerald: to new highs. This is like a movie, the stock 331 00:20:23,890 --> 00:20:26,849 Keith Fitz-Gerald: is running to new highs, and he's assembling what's called 332 00:20:26,849 --> 00:20:29,609 Keith Fitz-Gerald: puts or a short position. It's a bet the stock's 333 00:20:29,609 --> 00:20:30,540 Keith Fitz-Gerald: gonna go down. 334 00:20:31,060 --> 00:20:34,219 Keith Fitz-Gerald: Now he's done this every year and been wrong many, 335 00:20:34,339 --> 00:20:37,969 Keith Fitz-Gerald: many times. Tesla was gonna fail. The S&P was gonna crash. 336 00:20:38,099 --> 00:20:40,099 Keith Fitz-Gerald: There was gonna be nuts. So you gotta take stuff 337 00:20:40,099 --> 00:20:42,819 Keith Fitz-Gerald: like this with a big grain of salt, like a 338 00:20:42,819 --> 00:20:45,448 Keith Fitz-Gerald: really big grain of salt. But what makes it unique 339 00:20:45,449 --> 00:20:50,699 Keith Fitz-Gerald: in this situation is normally he would file his 13F's mid-November. Instead, 340 00:20:50,780 --> 00:20:53,020 Keith Fitz-Gerald: he chose to file them on the day 341 00:20:53,630 --> 00:20:55,319 Keith Fitz-Gerald: that Palantir was going to report record 342 00:20:55,319 --> 00:20:56,060 Keith Fitz-Gerald: earnings on that day. 343 00:20:56,060 --> 00:20:59,030 Suze: Now wait a minute, wait a minute again, once again, 344 00:20:59,040 --> 00:21:02,719 Suze: explain to people what is a 13F and why did 345 00:21:02,719 --> 00:21:04,300 Suze: he have to even fill it out? 346 00:21:05,199 --> 00:21:07,699 Keith Fitz-Gerald: Because he's a big investor and he can be deemed 347 00:21:07,699 --> 00:21:10,959 Keith Fitz-Gerald: to move the markets and when he's holding a material position, 348 00:21:11,040 --> 00:21:14,589 Keith Fitz-Gerald: his fund has to declare to the regulators that they've 349 00:21:14,589 --> 00:21:15,359 Keith Fitz-Gerald: assembled this 350 00:21:15,359 --> 00:21:15,958 Keith Fitz-Gerald: position. 351 00:21:16,199 --> 00:21:19,560 Suze: All right, so wait again, he has an actual fund, 352 00:21:20,109 --> 00:21:23,189 Suze: that he invests the money of this fund. How big 353 00:21:23,189 --> 00:21:24,500 Suze: do you think his fund is? 354 00:21:25,030 --> 00:21:26,729 Keith Fitz-Gerald: I don't know that number off the top of my head, 355 00:21:26,829 --> 00:21:27,968 Keith Fitz-Gerald: but it's, it's sizable. 356 00:21:28,109 --> 00:21:29,909 Suze: All right, so billions, is that correct? 357 00:21:30,109 --> 00:21:31,209 Keith Fitz-Gerald: It's enough to make a difference. 358 00:21:31,469 --> 00:21:34,429 Suze: All right. And so when you are the manager of 359 00:21:34,430 --> 00:21:35,510 Suze: a fund. 360 00:21:35,839 --> 00:21:40,250 Suze: And you're about to make an investment that could absolutely 361 00:21:40,280 --> 00:21:45,438 Suze: move the market. You have to file this form, correct? 362 00:21:45,680 --> 00:21:46,419 Keith Fitz-Gerald: That's correct. 363 00:21:46,640 --> 00:21:48,520 Suze: All right, now, everybody, do you got that? You might 364 00:21:48,520 --> 00:21:52,439 Suze: wanna write this down because this is a tremendous education 365 00:21:52,680 --> 00:21:56,760 Suze: of what goes on behind the scenes. So you have 366 00:21:56,760 --> 00:22:00,479 Suze: to understand it's not always like you think, and that's 367 00:22:00,479 --> 00:22:03,839 Suze: why we're so privileged to have Mr. Fitz with us. 368 00:22:03,920 --> 00:22:05,139 Suze: All right, go on, Fitzy. 369 00:22:05,880 --> 00:22:09,400 Keith Fitz-Gerald: OK, so here's the setup. He's got all of this 370 00:22:09,400 --> 00:22:12,339 Keith Fitz-Gerald: money bet that the company is gonna go down. He 371 00:22:12,439 --> 00:22:15,680 Keith Fitz-Gerald: tells the government, hey, you know what? I've bet all 372 00:22:15,680 --> 00:22:17,969 Keith Fitz-Gerald: this money the company is gonna go down, and he 373 00:22:17,969 --> 00:22:22,439 Keith Fitz-Gerald: does it on the very same day that Palantir is 374 00:22:22,439 --> 00:22:25,599 Keith Fitz-Gerald: going to hit new highs, on the very same day 375 00:22:25,599 --> 00:22:28,319 Keith Fitz-Gerald: that it is going to report record earnings, on the 376 00:22:28,319 --> 00:22:31,160 Keith Fitz-Gerald: very same day when there are all kinds of positive 377 00:22:31,160 --> 00:22:34,599 Keith Fitz-Gerald: new partnerships being announced, incredible revenues and profits. 378 00:22:35,880 --> 00:22:39,319 Suze: Wait, wait, wait, now stop again. Why does it matter that 379 00:22:39,319 --> 00:22:43,060 Suze: he did that on that particular day? 380 00:22:43,680 --> 00:22:48,159 Keith Fitz-Gerald: This is where I think it goes from random to deliberate, 381 00:22:48,319 --> 00:22:51,359 Keith Fitz-Gerald: and this is just my opinion, just speculation. I don't 382 00:22:51,359 --> 00:22:53,760 Keith Fitz-Gerald: want to get sued. I don't know for a fact. 383 00:22:53,959 --> 00:22:55,880 Suze: I don't know. I listened to you and you've never 384 00:22:55,880 --> 00:22:57,180 Suze: been wrong yet, but go on. 385 00:22:57,760 --> 00:22:59,479 Keith Fitz-Gerald: Well, thank you, thank you. Here we go. 386 00:22:59,964 --> 00:23:02,604 Keith Fitz-Gerald: He filed this paperwork on the very same day all 387 00:23:02,604 --> 00:23:04,685 Keith Fitz-Gerald: of the good news was gonna come out, and he 388 00:23:04,685 --> 00:23:08,125 Keith Fitz-Gerald: knew full well in my humble opinion that the media 389 00:23:08,125 --> 00:23:10,563 Keith Fitz-Gerald: would take that story hook, line and sinker, and they 390 00:23:10,564 --> 00:23:13,843 Keith Fitz-Gerald: would run with it globally. Oh my God, Michael Burry, 391 00:23:14,005 --> 00:23:15,784 Keith Fitz-Gerald: bets Palantir is gonna crash. 392 00:23:16,280 --> 00:23:19,889 Keith Fitz-Gerald: And sure enough, that's exactly what happened. Fear took over instantly. 393 00:23:20,010 --> 00:23:25,170 Keith Fitz-Gerald: The big algorithms, which are also now involved, started selling 394 00:23:25,170 --> 00:23:27,609 Keith Fitz-Gerald: faster than humans could keep up, and the next thing 395 00:23:27,609 --> 00:23:28,729 Keith Fitz-Gerald: you know, the stock kaboom! 396 00:23:28,729 --> 00:23:31,369 Suze: Wait, stop one more second. 397 00:23:31,905 --> 00:23:34,844 Suze: Tell everybody what an algorithm is. 398 00:23:35,305 --> 00:23:39,265 Keith Fitz-Gerald: Sure, so when you're a trader of that size, when you're, 399 00:23:39,344 --> 00:23:42,094 Keith Fitz-Gerald: you know, well beyond just an individual investor like we are, right, 400 00:23:42,375 --> 00:23:45,104 Keith Fitz-Gerald: when you're a trader moving hundreds of millions of dollars 401 00:23:45,104 --> 00:23:49,084 Keith Fitz-Gerald: at the touch of a button, you have these tremendous 402 00:23:49,224 --> 00:23:53,305 Keith Fitz-Gerald: sophisticated computer programs who do your bidding for you. 403 00:23:54,050 --> 00:23:58,810 Keith Fitz-Gerald: And they trade so fast, a human can't keep up. Now, 404 00:23:59,250 --> 00:24:02,849 Keith Fitz-Gerald: all of the computers talk to other computers on Wall Street, 405 00:24:02,930 --> 00:24:05,948 Keith Fitz-Gerald: and when one computer says sell, the rest of them 406 00:24:06,170 --> 00:24:08,250 Keith Fitz-Gerald: wanna race to the bottom. They all wanna jump on 407 00:24:08,250 --> 00:24:11,169 Keith Fitz-Gerald: board and sell as fast as they can because nobody 408 00:24:11,170 --> 00:24:14,770 Keith Fitz-Gerald: wants to be holding the hot potato, and prices fall. 409 00:24:15,130 --> 00:24:17,050 Suze: Yeah, you know, now, let's just put a pin in 410 00:24:17,050 --> 00:24:19,569 Suze: all that for one second. Everybody, I just want to 411 00:24:19,569 --> 00:24:21,448 Suze: tell you how I know this is true. 412 00:24:22,069 --> 00:24:24,790 Suze: So here I am, and all of a sudden I 413 00:24:24,790 --> 00:24:28,829 Suze: start getting texts from my young friends. When I say young, 414 00:24:29,189 --> 00:24:33,589 Suze: about 23, 27, 28, that I had all of them. 415 00:24:33,670 --> 00:24:37,359 Suze: I told them all about Palantir, all right? And all 416 00:24:37,359 --> 00:24:40,189 Suze: of a sudden that morning they go, Suze, Suze, have 417 00:24:40,189 --> 00:24:43,469 Suze: you seen what Michael Burry says? We gotta sell, we 418 00:24:43,469 --> 00:24:46,750 Suze: gotta sell. He thinks it's gonna go down, he's gonna 419 00:24:46,750 --> 00:24:48,290 Suze: short it. Let's sell. 420 00:24:49,069 --> 00:24:51,189 Suze: And of course I said, you can sell if you 421 00:24:51,189 --> 00:24:54,430 Suze: want to pay taxes on it, but it's gonna go 422 00:24:54,430 --> 00:24:56,550 Suze: down and probably go right back up, so be a 423 00:24:56,550 --> 00:24:59,630 Suze: fool if you want to be. So, all right, go 424 00:24:59,630 --> 00:25:00,489 Suze: on now. 425 00:25:02,760 --> 00:25:06,760 Keith Fitz-Gerald: What happens is these computers now, when they see one 426 00:25:06,760 --> 00:25:09,949 Keith Fitz-Gerald: big what's called a sell program, when they see one 427 00:25:09,959 --> 00:25:14,540 Keith Fitz-Gerald: big sell program come online, then all the other computers say, 428 00:25:14,780 --> 00:25:19,589 Keith Fitz-Gerald: oh man, we should sell. So this is like the 429 00:25:19,589 --> 00:25:23,839 Keith Fitz-Gerald: rumor mill on steroids. There's no human involvement and the 430 00:25:23,839 --> 00:25:27,079 Keith Fitz-Gerald: computers just sell, sell, sell, sell, and the price just 431 00:25:27,079 --> 00:25:30,290 Keith Fitz-Gerald: drops like a rock, and that's what happened. So behind 432 00:25:30,290 --> 00:25:31,119 Keith Fitz-Gerald: the scenes, 433 00:25:31,869 --> 00:25:34,479 Keith Fitz-Gerald: you and I are investing in the company because it's 434 00:25:34,479 --> 00:25:38,389 Keith Fitz-Gerald: a great stock. The computers don't care about that. The 435 00:25:38,390 --> 00:25:41,430 Keith Fitz-Gerald: computers are fighting with other computers to make sure they're 436 00:25:41,430 --> 00:25:43,770 Keith Fitz-Gerald: not left with the last potato on the shelf. 437 00:25:43,949 --> 00:25:47,909 Suze: All right, one last thing, why don't they take into 438 00:25:47,910 --> 00:25:53,649 Suze: consideration that Palantir came out with record earnings that day? 439 00:25:53,829 --> 00:25:56,510 Suze: It would be like if Michael hadn't done that, 440 00:25:57,140 --> 00:25:59,050 Suze: the stock would have been like, oh my God, it 441 00:25:59,050 --> 00:26:02,770 Suze: exceeded everybody's expectations. How can it keep doing this? Oh 442 00:26:02,770 --> 00:26:05,890 Suze: my God, everybody didn't think it was gonna be profitable, 443 00:26:05,900 --> 00:26:08,780 Suze: and it's more profitable than it ever was. Why do 444 00:26:08,780 --> 00:26:11,140 Suze: they not pay attention to that? 445 00:26:11,939 --> 00:26:15,569 Keith Fitz-Gerald: Well, that raises a very interesting question and one that 446 00:26:15,569 --> 00:26:18,699 Keith Fitz-Gerald: does not get talked about nearly enough, but should, in 447 00:26:18,699 --> 00:26:19,239 Keith Fitz-Gerald: my opinion. 448 00:26:20,869 --> 00:26:25,859 Keith Fitz-Gerald: The computers, when you're a professional money manager, particularly at scale, 449 00:26:25,989 --> 00:26:29,949 Keith Fitz-Gerald: meaning billions of dollars, you have to keep your money 450 00:26:29,949 --> 00:26:35,729 Keith Fitz-Gerald: moving 24/7 all the time. Now, individual investors actually have 451 00:26:35,829 --> 00:26:36,810 Keith Fitz-Gerald: the edge here. 452 00:26:37,189 --> 00:26:39,680 Keith Fitz-Gerald: And they have the edge for reasons that Suze's been 453 00:26:39,680 --> 00:26:45,510 Keith Fitz-Gerald: telling you about for years. You can logically, calmly, coolly, 454 00:26:45,719 --> 00:26:50,000 Keith Fitz-Gerald: and collectively buy into great stocks when you want to. 455 00:26:50,160 --> 00:26:53,919 Keith Fitz-Gerald: You can dollar cost average into great stocks, but the 456 00:26:53,920 --> 00:26:56,140 Keith Fitz-Gerald: big money doesn't have that option. 457 00:26:56,510 --> 00:27:00,708 Keith Fitz-Gerald: And so what tends to happen is they accelerate time. 458 00:27:01,030 --> 00:27:03,260 Keith Fitz-Gerald: So that's the one thing you and I can't control, 459 00:27:03,469 --> 00:27:06,670 Keith Fitz-Gerald: but they can, and so the computers pile in instantly. 460 00:27:06,989 --> 00:27:09,109 Keith Fitz-Gerald: So in other words, a movie that used to take 461 00:27:09,109 --> 00:27:10,709 Keith Fitz-Gerald: you and me an hour and a half to watch, 462 00:27:11,069 --> 00:27:14,229 Keith Fitz-Gerald: they'll watch, because they're computers, in 20 seconds. 463 00:27:14,859 --> 00:27:16,869 Keith Fitz-Gerald: And the battle's over before your'e even in it. And 464 00:27:16,869 --> 00:27:20,050 Keith Fitz-Gerald: the trick as an individual investor is not to fall 465 00:27:20,270 --> 00:27:23,188 Keith Fitz-Gerald: for it. Don't fall for their shtick. Don't fall for 466 00:27:23,189 --> 00:27:26,218 Keith Fitz-Gerald: the tricks. Don't get sucked into the hype because the 467 00:27:26,219 --> 00:27:28,869 Keith Fitz-Gerald: hype is what they're trying to get you to suck into. 468 00:27:29,270 --> 00:27:31,910 Keith Fitz-Gerald: That's not your advantage. It's theirs. 469 00:27:32,099 --> 00:27:34,209 Suze: All right, so wait, hold on one more second there. 470 00:27:34,569 --> 00:27:38,349 Suze: So everybody, here's what you have to understand about everything 471 00:27:38,349 --> 00:27:39,430 Suze: Keith just said. 472 00:27:40,459 --> 00:27:44,579 Suze: They come out, whether it's Michael or whoever, they place 473 00:27:44,579 --> 00:27:47,979 Suze: a huge bet that the stock is going to go down, 474 00:27:48,010 --> 00:27:51,300 Suze: and if the stock goes down, they make a fortune 475 00:27:51,579 --> 00:27:54,339 Suze: to make sure that it's going to go down or 476 00:27:54,339 --> 00:27:56,619 Suze: in the hopes that it's going to go down, they 477 00:27:56,619 --> 00:28:00,739 Suze: start these rumor mills, which is why my younger friends 478 00:28:00,739 --> 00:28:01,419 Suze: all freaked out. 479 00:28:01,545 --> 00:28:04,594 Suze: And they wanted to sell because when the headlines are, 480 00:28:04,625 --> 00:28:08,064 Suze: Michael Burry is betting Palantir is gonna go down, it 481 00:28:08,064 --> 00:28:12,265 Suze: starts this frenzy where all of you as well as 482 00:28:12,265 --> 00:28:16,344 Suze: the computers start to sell. The more it goes down, 483 00:28:16,584 --> 00:28:20,734 Suze: the more of a fortune Michael makes, but he only 484 00:28:20,734 --> 00:28:22,055 Suze: does it up to a certain point. 485 00:28:23,119 --> 00:28:24,790 Suze: And then it stops, right, Keith? 486 00:28:24,920 --> 00:28:29,359 Keith Fitz-Gerald: That's correct. And for all we know, he may even 487 00:28:29,359 --> 00:28:31,920 Keith Fitz-Gerald: already be out of the deal, having collected his 488 00:28:31,920 --> 00:28:32,479 Keith Fitz-Gerald: profits. 489 00:28:33,079 --> 00:28:36,560 Suze: And his profits, everybody, they weren't just a million dollars. 490 00:28:36,719 --> 00:28:40,280 Suze: They could have been seriously a billion dollars, a few 491 00:28:40,280 --> 00:28:46,000 Suze: $100 million that he made simply because he started a 492 00:28:46,000 --> 00:28:51,329 Suze: rumor that's just that simple. So here we are. 493 00:28:52,239 --> 00:28:55,560 Suze: Now if you're advising people, if you're gonna just give 494 00:28:55,560 --> 00:28:59,719 Suze: your opinion because we don't know their individual situations, we 495 00:28:59,719 --> 00:29:02,040 Suze: don't know what they should be investing in, what they shouldn't, 496 00:29:02,119 --> 00:29:07,319 Suze: but it's just talking about the stock Palantir, it went 497 00:29:07,319 --> 00:29:10,939 Suze: all the way down to about 169 as we're talking, 498 00:29:10,959 --> 00:29:13,880 Suze: it closed on Friday, I think at 177. 499 00:29:14,589 --> 00:29:19,180 Suze: It's now in the aftermarkets, it's been trading around 180. 500 00:29:19,589 --> 00:29:23,290 Suze: What are you doing? Are you buying more? 501 00:29:24,150 --> 00:29:27,430 Keith Fitz-Gerald: Yes, I am buying more. I bought more all the 502 00:29:27,430 --> 00:29:29,949 Keith Fitz-Gerald: way down and I'm gonna buy more all the way 503 00:29:29,949 --> 00:29:33,069 Keith Fitz-Gerald: back up. I think it's going to reclaim 200 in 504 00:29:33,069 --> 00:29:35,510 Keith Fitz-Gerald: a few years from now. It'll be three to five 505 00:29:35,510 --> 00:29:36,989 Keith Fitz-Gerald: times higher than it 506 00:29:36,989 --> 00:29:37,689 Keith Fitz-Gerald: is today. 507 00:29:37,829 --> 00:29:40,430 Suze: All right, now tell everybody what that means. So you 508 00:29:40,430 --> 00:29:44,270 Suze: think it's gonna go back up to 200 probably shortly, 509 00:29:44,349 --> 00:29:46,430 Suze: even before the end of this year, correct? 510 00:29:47,089 --> 00:29:47,890 Keith Fitz-Gerald: That is my 511 00:29:47,890 --> 00:29:48,699 Keith Fitz-Gerald: expectation. Yes. 512 00:29:48,810 --> 00:29:53,390 Suze: All right, then from there over the next three years 513 00:29:53,729 --> 00:29:56,199 Suze: it could go to 600, correct? 514 00:29:57,130 --> 00:29:57,969 Keith Fitz-Gerald: Correct, correct, or even higher. 515 00:29:57,969 --> 00:30:02,650 Suze: Or higher. So are all of you now understanding, 516 00:30:03,250 --> 00:30:09,150 Suze: why we always talk about dollar cost averaging, we call 517 00:30:09,150 --> 00:30:13,189 Suze: it keeping some powder dry, because when something blows up 518 00:30:13,189 --> 00:30:16,949 Suze: like this, you want to have the money to go 519 00:30:16,949 --> 00:30:21,630 Suze: back in and take advantage of what just happened because 520 00:30:21,630 --> 00:30:25,949 Suze: a good stock is a good stock, is a good stock. 521 00:30:26,449 --> 00:30:30,459 Suze: And just because it goes down does not mean it's 522 00:30:30,459 --> 00:30:33,959 Suze: a bad stock. It's either caught in a bad situation 523 00:30:34,780 --> 00:30:38,500 Suze: or maybe the economy, but when a stock goes down, 524 00:30:38,540 --> 00:30:43,459 Suze: that's a great stock, like Palantir earning money in the 525 00:30:43,459 --> 00:30:46,060 Suze: forefront of the future of what's going on. 526 00:30:46,660 --> 00:30:50,310 Suze: That's your ticket to buy something that has gone on 527 00:30:50,310 --> 00:30:54,550 Suze: serious sale when it already bypassed you by going up 528 00:30:54,550 --> 00:30:57,709 Suze: to 200. Now, I just have to say this about Keith. 529 00:30:58,989 --> 00:31:01,550 Suze: Keith first talked about Palantir at 7. 530 00:31:02,160 --> 00:31:04,439 Suze: And I remember him saying, oh, one day it'll go 531 00:31:04,439 --> 00:31:05,520 Suze: to 85. 532 00:31:06,270 --> 00:31:10,449 Suze: And everybody made fun of him. They went, Yeah, like, right. 533 00:31:10,569 --> 00:31:12,609 Keith Fitz-Gerald: Yes, they did. Yes, they did. 534 00:31:12,790 --> 00:31:15,910 Suze: And then all of a sudden it's at $85. Then 535 00:31:16,530 --> 00:31:18,089 Suze: what does he say? He doesn't say it's going to 536 00:31:18,089 --> 00:31:22,170 Suze: go to $90 or $95. He goes on national television 537 00:31:22,170 --> 00:31:24,770 Suze: and he tells everybody over and over, I think this 538 00:31:24,770 --> 00:31:26,109 Suze: is a $200 stock. 539 00:31:27,680 --> 00:31:28,849 Keith Fitz-Gerald: And they made fun of me again. 540 00:31:29,209 --> 00:31:32,010 Suze: They did more than make fun of you, Fitzy. They 541 00:31:32,010 --> 00:31:35,430 Suze: were like, he's an idiot. Are you crazy? This can't happen. 542 00:31:35,849 --> 00:31:38,430 Suze: And then all of a sudden the stock is all 543 00:31:38,430 --> 00:31:42,599 Suze: the way up at 2 something when Mr., I call 544 00:31:42,599 --> 00:31:48,430 Suze: him NB, right, Michael Burry, right, you know, comes in 545 00:31:48,439 --> 00:31:50,270 Suze: and does his shenanigans. 546 00:31:50,800 --> 00:31:54,900 Suze: So, I just wanted all of you to have a brief, 547 00:31:55,239 --> 00:32:00,380 Suze: brief lesson on what happened with one stock. Keith, overall, 548 00:32:00,880 --> 00:32:05,199 Suze: since we're almost out of time here, right, overall, what 549 00:32:05,199 --> 00:32:06,800 Suze: do you think the market's doing? 550 00:32:07,265 --> 00:32:10,425 Suze: What are your particular favorite stocks still, because a lot 551 00:32:10,425 --> 00:32:13,265 Suze: of people still have IONQ. Do you still love it? 552 00:32:13,625 --> 00:32:14,025 Keith Fitz-Gerald: Oh 553 00:32:14,025 --> 00:32:16,734 Keith Fitz-Gerald: my goodness, this is another stock on the forefront of 554 00:32:16,734 --> 00:32:17,704 Keith Fitz-Gerald: our future. Yes, you bet I do. 555 00:32:17,824 --> 00:32:23,025 Suze: All right, so we have Palantir, IONQ. You still love Nvidia. 556 00:32:23,630 --> 00:32:26,229 Keith Fitz-Gerald: Nvidia is still king of the ball, queen of the ball, 557 00:32:26,310 --> 00:32:28,550 Keith Fitz-Gerald: whatever expression you want to use. It's at the party 558 00:32:28,550 --> 00:32:29,949 Keith Fitz-Gerald: and gonna dance for a long time. 559 00:32:30,310 --> 00:32:32,670 Suze: All right, we won't talk about Tesla because we have 560 00:32:32,670 --> 00:32:34,369 Suze: a difference in opinion there. 561 00:32:34,500 --> 00:32:36,410 Keith Fitz-Gerald: Well, even if we have a difference in opinion, right, 562 00:32:36,670 --> 00:32:39,579 Keith Fitz-Gerald: forget about Tesla, for example, but think about all the 563 00:32:39,579 --> 00:32:42,790 Keith Fitz-Gerald: technologies that it's involved in that other companies besides Tesla 564 00:32:42,790 --> 00:32:47,489 Keith Fitz-Gerald: are working in robotics, vision, health, neural networks. So if 565 00:32:47,796 --> 00:32:50,837 Keith Fitz-Gerald: you can't get past Tesla that's OK. You and I 566 00:32:50,837 --> 00:32:54,146 Keith Fitz-Gerald: will always probably butt heads on that one, but the 567 00:32:54,146 --> 00:32:56,717 Keith Fitz-Gerald: technology itself with all these other companies that are involved, 568 00:32:56,717 --> 00:33:00,697 Keith Fitz-Gerald: is still changing our world, and that's an infestable opportunity 569 00:33:00,697 --> 00:33:03,597 Keith Fitz-Gerald: that we will never again see in our lifetimes. 570 00:33:03,916 --> 00:33:06,837 Suze: All right, so you heard it here on the Women 571 00:33:06,837 --> 00:33:11,256 Suze: and Money podcast. Hopefully Keith will be kind enough to 572 00:33:11,276 --> 00:33:12,077 Suze: join us again 573 00:33:12,163 --> 00:33:16,244 Suze: in the future when things like last week happened, because 574 00:33:16,244 --> 00:33:19,784 Suze: last week was a phenomenon that all of you need 575 00:33:19,784 --> 00:33:23,553 Suze: to learn about. And so therefore, now you've learned it. 576 00:33:23,923 --> 00:33:26,313 Suze: So here's the bottom line. Keith, do you know how 577 00:33:26,313 --> 00:33:29,563 Suze: we end the podcast? Do you know my last sayings? 578 00:33:30,004 --> 00:33:32,764 Keith Fitz-Gerald: Considerably more, more style than I do, so I'm gonna 579 00:33:32,764 --> 00:33:33,583 Keith Fitz-Gerald: let you finish. 580 00:33:34,043 --> 00:33:36,443 Suze: All right, so everybody, there's only 581 00:33:36,531 --> 00:33:39,451 Suze: one thing that both of us want you to remember 582 00:33:39,451 --> 00:33:41,750 Suze: when it comes to your money, and it is this: 583 00:33:42,010 --> 00:33:46,130 Suze: People first, then money, then things. Keith, thank you from 584 00:33:46,130 --> 00:33:48,311 Suze: the bottom of my heart, Fitzy. 585 00:33:48,691 --> 00:33:50,620 Keith Fitz-Gerald: It's an honor. Thank you everyone. 586 00:33:50,620 --> 00:33:55,970 Suze: Right now all of you stay safe, stay healthy, stay secure, 587 00:33:56,161 --> 00:33:59,500 Suze: and stay smart. See you soon. Bye bye.