1 00:00:07,900 --> 00:00:12,029 Suze: February 15, 2026. Welcome everybody to the Women and Money 2 00:00:12,029 --> 00:00:16,378 Suze: podcast and everybody's smart enough to listen. Today is a 3 00:00:16,379 --> 00:00:21,579 Suze: special podcast because Keith Fitz-Gerald, I call him Fitzy, is 4 00:00:21,579 --> 00:00:27,850 Suze: joining us to answer your questions about stocks, real estate, gold, silver, 5 00:00:28,059 --> 00:00:30,340 Suze: the state of the market, what you need to know, 6 00:00:30,450 --> 00:00:31,420 Suze: and a special announcement 7 00:00:32,000 --> 00:00:37,299 Suze: at the end. So, let's get into this right away, Keith. 8 00:00:37,680 --> 00:00:40,388 Suze: Everybody should know by now who you are. And if 9 00:00:40,389 --> 00:00:43,040 Suze: they don't know who you are, they can just look 10 00:00:43,040 --> 00:00:45,839 Suze: you up, OK? Cause you've been part of the Women 11 00:00:45,840 --> 00:00:50,040 Suze: and Money family for quite a while now. First question 12 00:00:50,040 --> 00:00:52,360 Suze: off the bat. We're in the middle of the day 13 00:00:52,360 --> 00:00:55,259 Suze: when we're taping this. Markets are up, markets are down. 14 00:00:55,900 --> 00:00:56,880 Suze: Friday here. 15 00:00:57,590 --> 00:00:59,349 Suze: What do you want people to know today? 16 00:00:59,680 --> 00:01:03,279 Keith: That you're OK, take a deep breath. These markets are 17 00:01:03,279 --> 00:01:07,959 Keith: acting normally. There's nothing despite the headlines that makes me concerned. 18 00:01:08,069 --> 00:01:11,480 Keith: We're on target, on path, and on goal, and that's 19 00:01:11,480 --> 00:01:12,479 Keith: great to see. 20 00:01:12,839 --> 00:01:16,480 Suze: Now that's hard for people given that many of the 21 00:01:16,480 --> 00:01:21,119 Suze: stocks that we've been talking about are down considerably now. 22 00:01:21,199 --> 00:01:23,550 Suze: I did a podcast last week and I did a 23 00:01:23,550 --> 00:01:28,559 Suze: comparison between now and 2022 and all of these things, 24 00:01:28,639 --> 00:01:31,970 Suze: but it's like, I want you to tell them, 25 00:01:32,500 --> 00:01:36,300 Suze: that it's not just OK, but why? Because they are 26 00:01:36,300 --> 00:01:40,139 Suze: scared to death, Keith. They should not be scared to 27 00:01:40,139 --> 00:01:43,378 Suze: death right now because of the dramatic decline in many 28 00:01:43,379 --> 00:01:45,279 Suze: of the stocks that they currently own. 29 00:01:45,699 --> 00:01:48,099 Keith: Well, that's a great question, right? And it cuts to 30 00:01:48,099 --> 00:01:48,260 Keith: the 31 00:01:48,699 --> 00:01:50,959 Keith: absolute core of who we are as people, it cuts 32 00:01:50,959 --> 00:01:53,080 Keith: to the core of who we are as investors and 33 00:01:53,080 --> 00:01:56,830 Keith: it's important that we look at history. What's happening now, Suze, 34 00:01:56,879 --> 00:02:00,400 Keith: is simply a shift in the institutional framework and it's 35 00:02:00,400 --> 00:02:03,160 Keith: the world of high finance that is colliding with the 36 00:02:03,160 --> 00:02:04,760 Keith: world of the individual investor. 37 00:02:05,139 --> 00:02:08,270 Keith: And we've seen this playbook so many times, we know 38 00:02:08,270 --> 00:02:11,919 Keith: the script. We've seen from all the way from 1871 39 00:02:11,919 --> 00:02:15,389 Keith: to COVID to the Euro crisis to financial crisis. There 40 00:02:15,389 --> 00:02:18,630 Keith: are always great shifts in liquidity, meaning the amount of 41 00:02:18,630 --> 00:02:22,389 Keith: money on the move. What's happening right now has nothing 42 00:02:22,389 --> 00:02:26,109 Keith: to do with the great stocks that we talk about frequently. 43 00:02:26,350 --> 00:02:30,589 Keith: For example, during the internet crash, people forget that Amazon, 44 00:02:30,699 --> 00:02:34,350 Keith: one of the greatest names today, lost 90% 45 00:02:34,554 --> 00:02:37,513 Keith: or more of its market value. Things got so bad 46 00:02:37,514 --> 00:02:40,073 Keith: that Jeff Bezos had to go around and assure all 47 00:02:40,074 --> 00:02:43,955 Keith: the shareholders and investors that Amazon was going to be OK. Today, 48 00:02:44,035 --> 00:02:50,184 Keith: you're simply seeing lots of hugely leveraged financial institutions making decisions, 49 00:02:50,354 --> 00:02:52,914 Keith: trading with computers that have nothing to do with the 50 00:02:52,913 --> 00:02:57,274 Keith: underlying merits of owning those particular stocks. If anything, we've 51 00:02:57,274 --> 00:02:59,994 Keith: got trillions of dollars of value that has yet to 52 00:02:59,994 --> 00:03:02,475 Keith: be created. So if you think about this like going 53 00:03:02,475 --> 00:03:03,714 Keith: to a grocery store, Suze. 54 00:03:04,479 --> 00:03:06,880 Keith: Everything you want to buy has just been put on 55 00:03:06,880 --> 00:03:10,570 Keith: sale again. In a few years from now, if you 56 00:03:10,570 --> 00:03:12,559 Keith: don't take the opportunity to shop for sale, you're gonna 57 00:03:12,559 --> 00:03:14,169 Keith: be standing there in the aisle going, gee, I wish 58 00:03:14,169 --> 00:03:15,550 Keith: I'd bought that when it was cheaper. 59 00:03:16,008 --> 00:03:20,478 Suze: But how do you know when cheap is cheaper, really? 60 00:03:20,729 --> 00:03:22,889 Suze: A lot of people, they saw a few stocks go 61 00:03:22,889 --> 00:03:28,369 Suze: from 200 down to 185 to 165 to 150, now 62 00:03:28,369 --> 00:03:32,210 Suze: around 127, and they're wanting to know, is now the time? 63 00:03:32,699 --> 00:03:35,270 Suze: Or should I wait? Is it going to go to 100? 64 00:03:35,309 --> 00:03:38,350 Suze: Is it gonna go 70? Should I be selling right 65 00:03:38,350 --> 00:03:42,610 Suze: now and taking losses or taking gains? They are seriously 66 00:03:42,910 --> 00:03:46,429 Suze: not knowing what to do and are looking for direction, 67 00:03:46,589 --> 00:03:48,550 Suze: some solid direction. 68 00:03:49,300 --> 00:03:51,100 Keith: Well, we talk about this a lot with folks all 69 00:03:51,100 --> 00:03:53,639 Keith: over the world, right? And there's really two questions here. 70 00:03:53,970 --> 00:03:57,029 Keith: If you're selling because you have to, that's one thing, right? 71 00:03:57,100 --> 00:03:58,699 Keith: I mean, you, you have a need, you have to 72 00:03:58,699 --> 00:04:00,600 Keith: fulfill that, whether you need to pay for an education, 73 00:04:00,820 --> 00:04:02,940 Keith: you need to pay for next month, whatever. You should 74 00:04:02,940 --> 00:04:04,539 Keith: be investing with money you don't need for at least 75 00:04:04,539 --> 00:04:06,699 Keith: five years. I think you make that very, very clear. 76 00:04:07,100 --> 00:04:10,419 Keith: But the difference between what's happening now and your emotions 77 00:04:10,419 --> 00:04:13,419 Keith: running amok is that history shows very clearly that the 78 00:04:13,419 --> 00:04:15,589 Keith: markets have an upward trajectory over time. 79 00:04:16,470 --> 00:04:19,230 Keith: Now part of that is trust the system. Part of 80 00:04:19,230 --> 00:04:21,829 Keith: that is looking at where you are in the market cycle. 81 00:04:21,899 --> 00:04:24,350 Keith: But is it cheap enough? You don't know the answer 82 00:04:24,350 --> 00:04:26,219 Keith: to that, right? But what you do know is that 83 00:04:26,220 --> 00:04:29,420 Keith: there's a propensity for a rising tide to raise all boats. 84 00:04:29,790 --> 00:04:35,000 Keith: We are estimating 4,5,6, $10 trillion a year coming online. 85 00:04:35,230 --> 00:04:37,149 Keith: All of which has to find a home in the 86 00:04:37,149 --> 00:04:40,730 Keith: world's best companies over time. That is a bullish input. 87 00:04:41,029 --> 00:04:43,950 Keith: So really the question is not should I sell. The 88 00:04:43,950 --> 00:04:47,510 Keith: question is why wouldn't you buy? And that's something you've 89 00:04:47,510 --> 00:04:48,988 Keith: got to look in the mirror and take a hard 90 00:04:48,988 --> 00:04:51,678 Keith: look at. What are you hoping to accomplish because if 91 00:04:51,678 --> 00:04:53,850 Keith: you're buying the world's great companies. 92 00:04:54,510 --> 00:04:56,428 Keith: Then this is no different again, than going to the 93 00:04:56,428 --> 00:04:58,589 Keith: grocery store and buying the best steak you can see 94 00:04:58,589 --> 00:05:00,790 Keith: on the shelf, or buying the best chicken or buying 95 00:05:00,790 --> 00:05:03,589 Keith: the best soup, or buying the best ingredients, because that's 96 00:05:03,589 --> 00:05:05,549 Keith: really what you're doing is you're making a soup, you're 97 00:05:05,549 --> 00:05:08,829 Keith: making a delectable, delicious meal that you're going to enjoy 98 00:05:08,829 --> 00:05:12,549 Keith: for many, many years to come. So, moments in time 99 00:05:12,549 --> 00:05:14,570 Keith: are not the same thing as moments over time. 100 00:05:14,760 --> 00:05:17,230 Suze: So let's talk about those moments in time. 101 00:05:17,488 --> 00:05:20,928 Suze: One of the things people are always asking is, when 102 00:05:20,928 --> 00:05:23,450 Suze: is the right time to dollar cost average? Do you 103 00:05:23,450 --> 00:05:26,250 Suze: do it monthly? Do you do it every three months? 104 00:05:26,488 --> 00:05:28,690 Suze: Do you, when you see the stock go down, do 105 00:05:28,690 --> 00:05:32,089 Suze: you buy more? And what happens, Keith? When you bought 106 00:05:32,089 --> 00:05:35,769 Suze: a position, you own the stock, and you have no 107 00:05:35,769 --> 00:05:39,609 Suze: more money whatsoever to dollar cost average into it. What 108 00:05:39,609 --> 00:05:40,250 Suze: do you do? 109 00:05:40,730 --> 00:05:42,769 Keith: OK, well, let's, let's take those in order cause those 110 00:05:42,769 --> 00:05:44,570 Keith: are all very important questions, right? 111 00:05:45,029 --> 00:05:48,670 Keith: So dollar cost averaging is something a lot of people misunderstand. 112 00:05:48,779 --> 00:05:51,109 Keith: They think it simply means buying lower, but that's not 113 00:05:51,109 --> 00:05:55,019 Keith: true actually. If you're dollar cost averaging properly, the big 114 00:05:55,019 --> 00:05:58,390 Keith: key is consistency because the whole premise behind dollar cost 115 00:05:58,390 --> 00:06:01,269 Keith: averaging is that you go in consistently, whether it's the 116 00:06:01,269 --> 00:06:04,109 Keith: first Monday of the month, whether it's the first Monday 117 00:06:04,109 --> 00:06:06,649 Keith: of the quarter, and whether it's your birthday every year. 118 00:06:06,709 --> 00:06:08,669 Keith: I mean, I know how some people do it that way. 119 00:06:08,988 --> 00:06:11,200 Keith: The point is you don't chicken out when the prices 120 00:06:11,200 --> 00:06:14,679 Keith: go down because if you do, then dollar cost averaging 121 00:06:14,690 --> 00:06:18,140 Keith: doesn't work. In fact, you're defeating yourself at the worst 122 00:06:18,320 --> 00:06:21,950 Keith: possible moment because the advantage to dollar cost averaging is 123 00:06:21,950 --> 00:06:26,119 Keith: consistency and at moments like the present, having the discipline 124 00:06:26,119 --> 00:06:28,200 Keith: to keep your emotions out of the equation and buy 125 00:06:28,200 --> 00:06:32,350 Keith: in anyway, even if you're gritting your teeth and hating 126 00:06:32,350 --> 00:06:35,440 Keith: every minute, and I personally feel those feelings too, right? 127 00:06:35,519 --> 00:06:37,260 Keith: I mean, I'm an investor just like you are. 128 00:06:37,660 --> 00:06:39,739 Keith: But the other part of this equation that people tend 129 00:06:39,738 --> 00:06:43,140 Keith: to misjudge or misunderstand is, you know, they think they're 130 00:06:43,140 --> 00:06:46,989 Keith: going to buy low just because it's low. That's not 131 00:06:47,010 --> 00:06:50,380 Keith: quite right. Dollar cost averaging again is about consistency. It's 132 00:06:50,380 --> 00:06:53,299 Keith: about execution, and it's about discipline. And if you're doing 133 00:06:53,299 --> 00:06:57,700 Keith: it correctly, you should learn to embrace the sale. You 134 00:06:57,700 --> 00:06:59,839 Keith: should learn to embrace the fact that many of these 135 00:06:59,839 --> 00:07:00,440 Keith: stocks are off 136 00:07:00,595 --> 00:07:03,714 Keith: significantly. If the reasons for which you bought those stocks 137 00:07:03,714 --> 00:07:06,815 Keith: are still there, the question again you wanna ask is 138 00:07:07,234 --> 00:07:09,755 Keith: why am I not buying? What's preventing me from doing that? 139 00:07:09,825 --> 00:07:11,915 Keith: Is the story still there? Is Apple still the one 140 00:07:11,915 --> 00:07:14,355 Keith: I want? Is Palantir IONQ? I mean, we're gonna talk 141 00:07:14,355 --> 00:07:15,614 Keith: about all those stocks later, but... 142 00:07:15,820 --> 00:07:18,940 Keith: ..but the thing is, think forward, think positive, because that's 143 00:07:18,940 --> 00:07:20,670 Keith: what DCA is there to help you do. 144 00:07:20,910 --> 00:07:23,850 Suze: All right, so one last question about dollar cost averaging, 145 00:07:24,100 --> 00:07:27,880 Suze: which is, all right, stock's going down. I understand why 146 00:07:28,220 --> 00:07:30,260 Suze: I should buy it as it's going down to bring 147 00:07:30,260 --> 00:07:33,779 Suze: my cost bases down, but the real question is, all right, 148 00:07:33,899 --> 00:07:36,489 Suze: we have a stock, and it's going up, and it's 149 00:07:36,489 --> 00:07:39,779 Suze: going up, and it's going up. Do you dollar cost 150 00:07:39,779 --> 00:07:42,820 Suze: average into it as well as it is going up? 151 00:07:44,250 --> 00:07:50,820 Keith: Absolutely you do that. There's no question because, you know, 152 00:07:51,079 --> 00:07:53,239 Keith: one of the sayings we have in this, in this 153 00:07:53,239 --> 00:07:55,000 Keith: office in my team, and you know, it takes people 154 00:07:55,000 --> 00:07:58,160 Keith: a lot of really internal hard thinking to, to come 155 00:07:58,160 --> 00:08:01,119 Keith: to terms with it, is you really make your money 156 00:08:01,119 --> 00:08:03,119 Keith: when the Bears come out to play. You just don't 157 00:08:03,119 --> 00:08:04,799 Keith: realize it until the Bulls are running again. 158 00:08:05,279 --> 00:08:07,600 Keith: And dollar cost averaging helps you stay in the game, 159 00:08:07,640 --> 00:08:09,799 Keith: it helps you play to win, which brings me to 160 00:08:09,799 --> 00:08:12,040 Keith: sort of that last part of your third question, which, 161 00:08:12,279 --> 00:08:14,160 Keith: so what do you do if there's no money? If you, 162 00:08:14,269 --> 00:08:15,920 Keith: if you, if you run out of money? Well, 163 00:08:16,760 --> 00:08:18,519 Keith: every time I send out an email that says, hey, 164 00:08:18,559 --> 00:08:20,010 Keith: you know what, maybe you ought to trim, you ought 165 00:08:20,010 --> 00:08:21,589 Keith: to sell a little bit of this, sell a little 166 00:08:21,589 --> 00:08:23,839 Keith: bit of that. If you have dividends coming in, if 167 00:08:23,839 --> 00:08:26,440 Keith: you've got stocks that you own too much of or 168 00:08:26,440 --> 00:08:29,320 Keith: something that's making you nervous at night, there's always the 169 00:08:29,320 --> 00:08:31,440 Keith: art of selling. There's always a little bit you can 170 00:08:31,440 --> 00:08:34,760 Keith: take from somewhere else. And my answer to people who 171 00:08:34,760 --> 00:08:38,159 Keith: have that predicament is congratulations, you're doing the job right. 172 00:08:38,200 --> 00:08:40,348 Keith: It means you're playing to win. Now... 173 00:08:40,619 --> 00:08:42,809 Keith: Again, that may not feel great because it feels like 174 00:08:42,809 --> 00:08:45,819 Keith: you're missing a sale, but that's your emotions talking. If 175 00:08:45,820 --> 00:08:47,650 Keith: you've always got to way in, you've always got to 176 00:08:47,650 --> 00:08:49,700 Keith: way out, that's what dollar cost averaging is all 177 00:08:49,700 --> 00:08:49,969 Keith: about. 178 00:08:50,219 --> 00:08:53,380 Suze: All right, so when I let everybody know that Fitzy, 179 00:08:53,580 --> 00:08:56,690 Suze: they're all calling you Fitzy now, how does that feel, Fitzy? 180 00:08:56,979 --> 00:08:57,460 Keith: I love it. 181 00:08:57,750 --> 00:09:01,169 Suze: So when I was telling everybody on the podcast that 182 00:09:01,169 --> 00:09:04,739 Suze: Fitzy was going to be on Sunday, even though it's 183 00:09:04,739 --> 00:09:08,929 Suze: Friday right now, that send in questions. Well, we got 184 00:09:08,929 --> 00:09:14,368 Suze: about 300 on the wall, thousands in emails, so I decided... 185 00:09:15,090 --> 00:09:18,679 Suze: I'm not gonna choose. I'm gonna send them all to Robert, 186 00:09:18,770 --> 00:09:23,409 Suze: the producer, right? And, uh, seriously, and I'm gonna let 187 00:09:23,409 --> 00:09:27,280 Suze: him choose, and he'll ask you some. He'll ask me some, 188 00:09:27,500 --> 00:09:30,390 Suze: and let's, let's just start. Let's do this rapid fire 189 00:09:30,390 --> 00:09:33,679 Suze: so we can get as many answers in to as 190 00:09:33,679 --> 00:09:37,909 Suze: many questions as possible. So Robert, now everybody, you're gonna 191 00:09:37,909 --> 00:09:39,330 Suze: get to hear Robert's 192 00:09:39,625 --> 00:09:42,455 Suze: voice, can you believe it? There you go. All right. 193 00:09:42,815 --> 00:09:45,234 Robert: We got a ton of questions, as Suze said. So 194 00:09:45,414 --> 00:09:48,125 Robert: I centered them around themes and categories. So these are 195 00:09:48,125 --> 00:09:50,734 Robert: composite questions, so we're not gonna do names or anything, 196 00:09:50,815 --> 00:09:52,155 Robert: but Keith, we're gonna start with you. 197 00:09:52,335 --> 00:09:52,674 Keith: OK. 198 00:09:53,094 --> 00:09:56,093 Robert: Given that the growth of AI will require vast amounts 199 00:09:56,094 --> 00:09:58,694 Robert: of energy and other infrastructure, what 200 00:09:58,695 --> 00:10:02,255 Robert: are some recommendations you have for new investments in this 201 00:10:02,255 --> 00:10:03,804 Robert: space or surrounding AI? 202 00:10:04,640 --> 00:10:07,119 Keith: Well, that's a literally a $1 trillion question. There's a 203 00:10:07,119 --> 00:10:10,080 Keith: couple of thoughts here. First, and obvious is energy. Many 204 00:10:10,080 --> 00:10:13,960 Keith: people are betting on nuclear development, and that's critical, definitely, 205 00:10:14,280 --> 00:10:16,280 Keith: but that's also years away because we have a not 206 00:10:16,280 --> 00:10:18,520 Keith: in my backyard problem anytime we try to build a 207 00:10:18,520 --> 00:10:21,679 Keith: nuclear plant in this country, even if the permit is accelerated. 208 00:10:22,010 --> 00:10:24,400 Keith: So my preference is to think about it as a 209 00:10:24,400 --> 00:10:27,159 Keith: continuum and you want to look to conventional energy providers, 210 00:10:27,200 --> 00:10:31,719 Keith: to natural gas players in particular, because every big AI company, 211 00:10:31,799 --> 00:10:35,000 Keith: every big data center, every Mag 7 is talking about 212 00:10:35,000 --> 00:10:38,239 Keith: fueling the incremental demand with natural gas. A company like 213 00:10:38,239 --> 00:10:39,619 Keith: Chevron is ideal. 214 00:10:40,780 --> 00:10:41,319 Robert: Suze... 215 00:10:41,619 --> 00:10:42,179 Suze: Yes sir. 216 00:10:42,260 --> 00:10:44,739 Robert: This is about general investing. I don't know when to 217 00:10:44,739 --> 00:10:47,417 Robert: sell stocks, I can buy them for sure, but is 218 00:10:47,417 --> 00:10:50,299 Robert: knowing when to sell them is as important as buying them? 219 00:10:51,179 --> 00:10:54,859 Suze: So I think Keith kind of answered that you sell, 220 00:10:54,940 --> 00:10:57,609 Suze: in my opinion, when all of a sudden you're too 221 00:10:57,609 --> 00:11:02,380 Suze: nervous to hold or something has gone wrong in the company. 222 00:11:02,460 --> 00:11:06,459 Suze: They've changed the CEO. They've changed their strategy. They're no 223 00:11:06,460 --> 00:11:09,099 Suze: longer relevant, whatever it may be. Keith, what do you 224 00:11:09,099 --> 00:11:10,659 Suze: think about answering that too? 225 00:11:11,309 --> 00:11:13,830 Keith: Well, I agree with you 100%, and there's two sort 226 00:11:13,830 --> 00:11:16,309 Keith: of litmus tests that we have. The best time to 227 00:11:16,309 --> 00:11:19,340 Keith: buy stocks is when nobody wants them, i.e. a big drop, 228 00:11:19,469 --> 00:11:21,349 Keith: and the best time to sell stocks is when people 229 00:11:21,349 --> 00:11:23,949 Keith: can't get enough of them. And just as simple as that. 230 00:11:24,020 --> 00:11:26,229 Keith: It's like a garden. You, you trim the vegetables, you 231 00:11:26,229 --> 00:11:28,000 Keith: prune them, you harvest them every once in a while. 232 00:11:28,349 --> 00:11:30,869 Suze: But Keith, I have to say this because the other 233 00:11:30,869 --> 00:11:32,829 Suze: day on the podcast, I was telling people there are 234 00:11:32,830 --> 00:11:33,729 Suze: some stocks you 235 00:11:33,784 --> 00:11:37,525 Suze: just want to own forever and you never want to sell, 236 00:11:37,544 --> 00:11:40,844 Suze: and that caused a ruckus of, well, what stocks are those? What, 237 00:11:41,065 --> 00:11:43,184 Suze: how is it possible that there are some stocks you 238 00:11:43,184 --> 00:11:45,895 Suze: never want to sell? Give them, and I know Robert, 239 00:11:45,945 --> 00:11:48,104 Suze: I just took your job away from you for a second, 240 00:11:48,344 --> 00:11:52,864 Suze: but what are some stocks, examples of stocks that you 241 00:11:52,864 --> 00:11:55,585 Suze: personally own or I own that I would never want 242 00:11:55,585 --> 00:11:56,284 Suze: to sell. 243 00:11:57,070 --> 00:11:59,020 Keith: Well, I will cut right to the chase, and this 244 00:11:59,020 --> 00:12:03,099 Keith: is a very controversial name, but I anticipate owning Tesla 245 00:12:03,099 --> 00:12:05,789 Keith: for the rest of my life and hopefully for my 246 00:12:05,789 --> 00:12:07,829 Keith: children and unborn grandchildren's lives. 247 00:12:08,169 --> 00:12:09,210 Suze: Tell people why. 248 00:12:09,739 --> 00:12:12,219 Keith: Well, the reason is that this is a company that 249 00:12:12,219 --> 00:12:15,169 Keith: is not about cars, it's not about EVs, it's not about, 250 00:12:15,219 --> 00:12:18,299 Keith: you know, wild executive antics. This is a company that 251 00:12:18,299 --> 00:12:21,869 Keith: is changing data, it's changing transmission, it's changing energy, it's 252 00:12:21,869 --> 00:12:26,299 Keith: rewiring humanity. And so the question people often bring to 253 00:12:26,299 --> 00:12:28,020 Keith: me is, well, I can't get past Musk or I 254 00:12:28,020 --> 00:12:28,859 Keith: can't get past this. 255 00:12:29,109 --> 00:12:33,750 Keith: Great, because that means there's controversy. Controversy creates opportunity. If 256 00:12:33,750 --> 00:12:35,950 Keith: you look at all of the trillions of dollars of 257 00:12:35,950 --> 00:12:39,030 Keith: things that he's doing through those companies, I think we're 258 00:12:39,030 --> 00:12:42,709 Keith: looking at a transformational moment in human history, which is 259 00:12:42,710 --> 00:12:45,070 Keith: why I hope I'm smart enough to buy more shares 260 00:12:45,070 --> 00:12:47,869 Keith: over time regardless of whether they're up and down. And 261 00:12:47,869 --> 00:12:50,070 Keith: if I don't have money available, I'm going to make 262 00:12:50,070 --> 00:12:50,839 Keith: some money available. 263 00:12:51,030 --> 00:12:54,940 Suze: But in your opinion there are certain stocks that you've 264 00:12:54,940 --> 00:12:58,890 Suze: probably owned for years, you probably will continue to own 265 00:12:58,890 --> 00:13:03,659 Suze: for years. So it's those types of stocks that you 266 00:13:03,659 --> 00:13:07,739 Suze: really want in your foundation to build upon, because in 267 00:13:07,739 --> 00:13:10,700 Suze: my opinion, everybody, you don't want to pull out your foundation. 268 00:13:10,979 --> 00:13:13,098 Suze: You pull out your foundation, everything on top of it 269 00:13:13,099 --> 00:13:15,750 Suze: will crumble. So you always want 270 00:13:15,840 --> 00:13:21,169 Suze: foundational stocks in your portfolio, Robert, what's the next question? 271 00:13:21,450 --> 00:13:25,250 Robert: So related, where can people find reliable information as to 272 00:13:25,250 --> 00:13:26,359 Robert: what they should invest in? 273 00:13:26,570 --> 00:13:28,989 Suze: Well, I actually, I want to change that a little bit. 274 00:13:29,130 --> 00:13:33,250 Suze: I think people, what they really want to know is, Keith, 275 00:13:33,369 --> 00:13:37,690 Suze: where do you get your reliable information that you pass 276 00:13:37,690 --> 00:13:39,049 Suze: on to everybody? 277 00:13:39,669 --> 00:13:41,709 Keith: Well, I would make a joke about the magic 8 ball, 278 00:13:41,789 --> 00:13:44,189 Keith: but that probably wouldn't go over very well. You remember those? 279 00:13:44,229 --> 00:13:45,348 Keith: You shake them and you get this great, you know, answer. 280 00:13:46,729 --> 00:13:48,669 Suze: Well, that's where I get it from, but don't tell anybody. 281 00:13:48,739 --> 00:13:51,848 Keith: I know shhh. The best part, you know, the, the, the, 282 00:13:51,989 --> 00:13:55,390 Keith: the key to getting past the noise and the nuance and. 283 00:13:55,474 --> 00:13:59,034 Keith: And hype is you actually go to the most interesting 284 00:13:59,034 --> 00:14:03,255 Keith: part of any corporate website or any corporate annual report. 285 00:14:03,515 --> 00:14:06,593 Keith: Forget about the numbers, forget about the analyst calls, forget 286 00:14:06,594 --> 00:14:09,473 Keith: about the research you're getting from people like Big Short 287 00:14:09,474 --> 00:14:11,354 Keith: and Maximus, Michael Burry right now. 288 00:14:11,739 --> 00:14:13,270 Keith: You know what you want to do is look at 289 00:14:13,270 --> 00:14:17,989 Keith: the notes for any earnings call because the executives can't lie. 290 00:14:18,070 --> 00:14:20,190 Keith: They have to meet certain accounting standards, they have to 291 00:14:20,190 --> 00:14:23,469 Keith: meet forward looking statements, all of that. But the really 292 00:14:23,469 --> 00:14:26,659 Keith: interesting stuff is almost always in the notes. 293 00:14:27,119 --> 00:14:31,039 Suze: Which is why then, right, people come to somebody like 294 00:14:31,039 --> 00:14:33,919 Suze: you or they come to me or whatever and they 295 00:14:33,919 --> 00:14:37,429 Suze: look for guidance there. So everybody, I know you all 296 00:14:37,429 --> 00:14:39,599 Suze: want to know, should I have a financial advisor? Should 297 00:14:39,599 --> 00:14:42,460 Suze: I do this? I doubt highly, 298 00:14:42,859 --> 00:14:46,700 Suze: that many financial advisors that all of you deal with, 299 00:14:46,820 --> 00:14:49,099 Suze: by the way, do that research. 300 00:14:49,900 --> 00:14:50,031 Keith: Bingo. 301 00:14:50,031 --> 00:14:52,500 Suze: What they do is they take the research of the 302 00:14:52,500 --> 00:14:55,500 Suze: firm that they are with and, and everything, but they 303 00:14:55,500 --> 00:14:57,260 Suze: have to add to that that they have to meet 304 00:14:57,260 --> 00:15:01,219 Suze: sales quotas sometimes. They have to make money sometimes that 305 00:15:01,219 --> 00:15:04,260 Suze: way by buying and selling and everything, so... 306 00:15:04,715 --> 00:15:09,395 Suze: Just keep that all in mind, but there are ways 307 00:15:09,395 --> 00:15:13,474 Suze: for you to have reliable sources that you rely on 308 00:15:13,715 --> 00:15:17,215 Suze: to find out what you need to know. Next question, Robert. 309 00:15:17,395 --> 00:15:20,395 Robert: Well, Suze, you just mentioned financial planners. When do you 310 00:15:20,395 --> 00:15:23,674 Robert: know that it's time to get a financial planner or 311 00:15:23,674 --> 00:15:25,715 Robert: not use a financial planner? 312 00:15:26,770 --> 00:15:29,099 Suze: I have to tell you, I have a saying, and 313 00:15:29,099 --> 00:15:32,299 Suze: I've always had the saying, you wanna find the best 314 00:15:32,299 --> 00:15:36,960 Suze: financial planner in the world, people, look in the mirror 315 00:15:37,380 --> 00:15:41,059 Suze: because nobody is going to care about your money more 316 00:15:41,059 --> 00:15:41,700 Suze: than you do. 317 00:15:41,854 --> 00:15:45,094 Suze: And what happens to your money directly affects the quality 318 00:15:45,094 --> 00:15:48,974 Suze: of your life, not your financial advisor's life, not your 319 00:15:48,974 --> 00:15:53,695 Suze: banker's life, not your insurance agent's life, but your life. 320 00:15:53,934 --> 00:15:58,674 Suze: And recently, I think it was actually Thursday, yesterday's podcast, 321 00:15:59,155 --> 00:16:02,455 Suze: where a woman asked this question about her husband having 322 00:16:02,455 --> 00:16:05,474 Suze: Parkinson's and should she go and give her money to 323 00:16:05,614 --> 00:16:09,775 Suze: a financial advisor, and it's like, I would hope all 324 00:16:09,775 --> 00:16:10,434 Suze: of you 325 00:16:11,309 --> 00:16:15,340 Suze: become the masters of your own financial destiny, and you 326 00:16:15,340 --> 00:16:20,539 Suze: all understand that you have the ability with the right 327 00:16:20,539 --> 00:16:24,539 Suze: information to make the right decisions to keep your money 328 00:16:24,539 --> 00:16:28,789 Suze: safe and sound. Now, if you have seriously large sums 329 00:16:28,789 --> 00:16:32,390 Suze: of money, millions of dollars, then maybe then it can 330 00:16:32,390 --> 00:16:36,289 Suze: become a little bit burdensome. Maybe then you want to 331 00:16:36,289 --> 00:16:36,609 Suze: employ 332 00:16:37,570 --> 00:16:41,969 Suze: a financial advisor, but you better know that that financial 333 00:16:41,969 --> 00:16:46,289 Suze: advisor is a fabulous one, not just because your friend 334 00:16:46,289 --> 00:16:48,890 Suze: says they are, or this one says it is, but 335 00:16:48,890 --> 00:16:52,590 Suze: you better absolutely know they have a track record, and 336 00:16:52,590 --> 00:16:55,919 Suze: they are worth it. Otherwise, I have to tell you, 337 00:16:56,010 --> 00:16:58,849 Suze: I would really rely on myself. Next question. 338 00:16:59,849 --> 00:17:01,840 Suze: I already know Keith agrees with that, so I'm not 339 00:17:01,840 --> 00:17:03,210 Suze: gonna ask him what he thinks. Go on. 340 00:17:03,320 --> 00:17:04,109 Keith: Yes, I do. 341 00:17:05,209 --> 00:17:07,290 Robert: All right, so we had a number of folks that 342 00:17:07,290 --> 00:17:11,810 Robert: said that Keith suggests an almost 100% individual stock portfolio, 343 00:17:11,890 --> 00:17:15,649 Robert: while Suze suggests 50% in the S&P 500 and the 344 00:17:15,650 --> 00:17:19,688 Robert: remaining in mostly individual stocks. Now the folks want to 345 00:17:19,689 --> 00:17:21,550 Robert: know which approach should they follow. 346 00:17:21,810 --> 00:17:23,770 Suze: Well, I gotta tell you the truth, I got that 347 00:17:23,770 --> 00:17:24,689 Suze: approach from Keith. 348 00:17:25,520 --> 00:17:28,459 Suze: Right? I actually had written an email to Keith saying, 349 00:17:28,800 --> 00:17:30,819 Suze: somebody wants to know what they should do with this. 350 00:17:30,880 --> 00:17:33,079 Suze: I'm not exactly sure, da da da da. What do 351 00:17:33,079 --> 00:17:35,800 Suze: you think given who they are and everything? And it 352 00:17:35,800 --> 00:17:41,438 Suze: was Keith's suggestion that that's where that came from. So, Keith, 353 00:17:41,520 --> 00:17:42,900 Suze: you answer that now. 354 00:17:44,520 --> 00:17:46,719 Keith: Well, there's a nuance here and it's not quite an 355 00:17:46,719 --> 00:17:49,919 Keith: accurate reflection of, of the real question at hand. You know, 356 00:17:49,959 --> 00:17:51,760 Keith: if you're just starting out and you need to do that, 357 00:17:51,880 --> 00:17:56,760 Keith: Suze has properly, appropriately and profitably talked to you in 358 00:17:56,760 --> 00:18:00,589 Keith: the audience for years about using index funds, using ETFs, 359 00:18:00,680 --> 00:18:02,880 Keith: using those as a way to get started, get your 360 00:18:02,880 --> 00:18:05,979 Keith: toe in the water, get some mileage under your feet, right? 361 00:18:06,449 --> 00:18:09,968 Keith: As your portfolio matures and grows and you begin to 362 00:18:09,969 --> 00:18:12,449 Keith: have additional money you can put to work or, or 363 00:18:12,449 --> 00:18:14,449 Keith: maybe you're starting to, you know, move into a different 364 00:18:14,449 --> 00:18:18,389 Keith: phase of life, that's when it really becomes appropriate to concentrate. 365 00:18:18,650 --> 00:18:21,989 Keith: And what my research shows is that many investors begin 366 00:18:21,989 --> 00:18:25,170 Keith: in the fund world and then over time begin to 367 00:18:25,170 --> 00:18:28,729 Keith: add more and more individual stocks to their portfolio because 368 00:18:28,930 --> 00:18:31,410 Keith: they are able to achieve their own personal 369 00:18:31,464 --> 00:18:36,305 Keith: objectives and in our world today, diversification no longer works 370 00:18:36,305 --> 00:18:39,024 Keith: the way it once did. That doesn't mean it's irrelevant 371 00:18:39,025 --> 00:18:41,385 Keith: or wrong. It just means that what you need to 372 00:18:41,385 --> 00:18:45,504 Keith: do is add stocks like Nvidia, for example, to a 373 00:18:45,505 --> 00:18:49,724 Keith: simple ETF portfolio. The ETF portfolio is going to do very, 374 00:18:49,744 --> 00:18:52,944 Keith: very well, particularly if you layer that extra salt and pepper, 375 00:18:53,025 --> 00:18:54,863 Keith: the Nvidia on top of it, and I'll give you 376 00:18:54,864 --> 00:18:56,484 Keith: some hard numbers that will make that case. 377 00:18:57,140 --> 00:19:00,060 Keith: If you look at the average percent of the S&P 500, 378 00:19:00,140 --> 00:19:02,929 Keith: you're 100% or so, maybe 150% over the last, what 379 00:19:02,930 --> 00:19:06,219 Keith: is it, 15 years, 20 years. But Nvidia, even just 380 00:19:06,219 --> 00:19:11,250 Keith: a small $1000 investment in Nvidia in 2011, mid 2011 381 00:19:11,300 --> 00:19:16,939 Keith: is worth $509,000 today. So imagine what happened if you 382 00:19:16,939 --> 00:19:20,969 Keith: had diversified appropriately, properly, and you added just a little 383 00:19:20,969 --> 00:19:24,430 Keith: bit of spice. That's the difference that having a blend 384 00:19:24,430 --> 00:19:25,698 Keith: of those two approaches can make 385 00:19:25,805 --> 00:19:28,754 Keith: in your life, especially in today's volatile markets. 386 00:19:28,994 --> 00:19:31,675 Suze: Think about it, everybody, as adding salt to the soup. 387 00:19:31,885 --> 00:19:32,324 Keith: Bingo, 388 00:19:32,405 --> 00:19:34,984 Suze: To make it taste a little bit better. Yep. All right, 389 00:19:35,204 --> 00:19:37,005 Suze: we have time for a few more, Robert. 390 00:19:37,285 --> 00:19:40,964 Robert: Absolutely. Should someone use extra income to pay down their 391 00:19:40,964 --> 00:19:43,765 Robert: student loan, or should they keep making monthly payments and 392 00:19:43,765 --> 00:19:46,864 Robert: send extra income to their Roth IRA? 393 00:19:47,859 --> 00:19:51,359 Suze: Well, I can tell you this. Student loan debt, in 394 00:19:51,359 --> 00:19:55,839 Suze: my opinion, is the absolute most dangerous debt you can 395 00:19:55,839 --> 00:19:59,540 Suze: have bar none. And why is that? Because it is 396 00:19:59,540 --> 00:20:02,859 Suze: not dischargeable in bankruptcy. 397 00:20:03,069 --> 00:20:07,099 Suze: And it will follow you to your grave. I'm not kidding. 398 00:20:07,479 --> 00:20:11,099 Suze: If you haven't paid it off, you're now collecting Social Security. 399 00:20:11,319 --> 00:20:15,099 Suze: They have the legal authority to garnish your Social Security, 400 00:20:15,280 --> 00:20:20,159 Suze: even your wages. So for me, depending on how you 401 00:20:20,160 --> 00:20:23,880 Suze: feel about your student loan debt, how much you absolutely 402 00:20:23,880 --> 00:20:26,079 Suze: still owe on your student loan debt, 403 00:20:27,250 --> 00:20:30,569 Suze: I would do both, you know, please don't be an 404 00:20:30,569 --> 00:20:33,448 Suze: all or nothing type of person. All my money is 405 00:20:33,449 --> 00:20:35,969 Suze: going to my student loan debt, and or all my 406 00:20:35,969 --> 00:20:39,969 Suze: money is going to my Roth IRA. I would do both. 407 00:20:40,170 --> 00:20:43,270 Suze: And the reason that I would do both is, remember, 408 00:20:43,680 --> 00:20:46,849 Suze: every year there's a maximum of what you can put 409 00:20:46,849 --> 00:20:50,829 Suze: into a Roth. So, if you miss those years, then 410 00:20:50,829 --> 00:20:53,290 Suze: you don't get as much money into the Roth. 411 00:20:53,599 --> 00:20:56,719 Suze: So, I would do both. That's the answer there. Next question. 412 00:20:57,000 --> 00:21:00,040 Robert: We had a number of questions about precious metals, specifically 413 00:21:00,040 --> 00:21:03,160 Robert: gold and silver. So, this was directed at you, Keith. 414 00:21:03,229 --> 00:21:06,599 Robert: What's your outlook on a gold position long-term? Would you 415 00:21:06,599 --> 00:21:09,880 Robert: buy physical gold or ETFs? And then there's some silver 416 00:21:09,880 --> 00:21:11,319 Robert: kind of goes in there too. A lot of folks 417 00:21:11,319 --> 00:21:13,290 Robert: were asking about silver, that's starting to pop up more. 418 00:21:13,839 --> 00:21:16,349 Keith: At the risk of committing financial heresy, let me tell 419 00:21:16,349 --> 00:21:19,520 Keith: you why I would not buy either of those right now. 420 00:21:20,160 --> 00:21:21,739 Keith: It has nothing to do with the metals. You know, 421 00:21:21,810 --> 00:21:24,439 Keith: people think buying metals right now is a hedge against inflation, 422 00:21:24,489 --> 00:21:27,890 Keith: which is not true. It is really a reflection of rates. 423 00:21:28,010 --> 00:21:30,968 Keith: Are they rising or falling over time? The problem in 424 00:21:30,969 --> 00:21:33,890 Keith: today's markets is not the gold or the silver or 425 00:21:33,890 --> 00:21:38,449 Keith: other precious metals themselves. It comes down to hypothecation and 426 00:21:38,449 --> 00:21:42,329 Keith: reborrowing of funds and leverage. The reason gold and silver 427 00:21:42,329 --> 00:21:45,329 Keith: got shellacked recently and why they've risen so much is. 428 00:21:45,474 --> 00:21:47,984 Keith: Absolutely the same. In the old days, an ounce of 429 00:21:47,984 --> 00:21:50,805 Keith: gold used to back a single financial product. These days 430 00:21:50,984 --> 00:21:53,304 Keith: there are single stock derivatives. There are fund derivatives, there 431 00:21:53,305 --> 00:21:55,665 Keith: are ETFs, there's mutual funds. So there's about eight or 432 00:21:55,665 --> 00:21:58,635 Keith: 10 claims on every single ounce of gold out there, 433 00:21:58,734 --> 00:22:01,505 Keith: all of which trickle through the financial system. So that 434 00:22:01,505 --> 00:22:04,984 Keith: magnifies price movement up or down or up and down 435 00:22:04,984 --> 00:22:05,665 Keith: actually really. 436 00:22:06,069 --> 00:22:09,520 Keith: And so, knowing the game is what it is and 437 00:22:09,520 --> 00:22:13,199 Keith: seeing the global volatility lately, everybody's trying to figure out 438 00:22:13,199 --> 00:22:15,520 Keith: who's got the real dollar in the system and stuff 439 00:22:15,520 --> 00:22:17,439 Keith: like that is just going to get caught in the mix, 440 00:22:17,479 --> 00:22:20,119 Keith: and I have no interest in doing that. I'd rather 441 00:22:20,119 --> 00:22:23,640 Keith: buy a dividend producing company like Chevron because now I 442 00:22:23,640 --> 00:22:25,400 Keith: know I've got a resource, I've got solid 443 00:22:25,604 --> 00:22:29,265 Keith: management, I've got a dividend, and importantly, I've got growth potential. 444 00:22:29,604 --> 00:22:31,964 Keith: If you've got gold and silver, you may think you're 445 00:22:31,964 --> 00:22:35,165 Keith: playing smart, but the reality is you're not earning a dividend. 446 00:22:35,364 --> 00:22:37,954 Keith: There's no management. There's no product. It's only worth as 447 00:22:37,954 --> 00:22:40,084 Keith: much as the next person coming along is willing to 448 00:22:40,084 --> 00:22:42,844 Keith: pay you. And with the institutions in the game, the 449 00:22:42,844 --> 00:22:44,905 Keith: risks are a lot higher than people think. 450 00:22:45,770 --> 00:22:47,409 Suze: So I just want to add to that for one 451 00:22:47,410 --> 00:22:50,849 Suze: second is that a lot of people feel that they 452 00:22:50,849 --> 00:22:55,010 Suze: want to participate. They just, they don't care about what 453 00:22:55,010 --> 00:22:55,790 Suze: anything you just said. 454 00:22:56,089 --> 00:22:56,880 Keith: Yeah, I know. 455 00:22:57,540 --> 00:23:00,890 Suze: They want to participate in it. And what I've been 456 00:23:00,890 --> 00:23:03,920 Suze: telling them, all right, if you want to participate now, 457 00:23:04,250 --> 00:23:07,010 Suze: put a little bit of your money in an ETF, the, 458 00:23:07,130 --> 00:23:11,089 Suze: you know, the GLD ETF. But a lot of people 459 00:23:11,089 --> 00:23:15,030 Suze: are doing what they're absolutely taking advantage of 460 00:23:15,609 --> 00:23:19,030 Suze: gold at Costco, they want to own the physical commodity, 461 00:23:19,369 --> 00:23:22,849 Suze: and I'm telling you, everybody, that will be the biggest 462 00:23:22,849 --> 00:23:24,969 Suze: mistake you make, bar none. 463 00:23:25,329 --> 00:23:26,890 Suze: What else you got, Robert? 464 00:23:27,290 --> 00:23:30,270 Robert: We had a number of questions about real estate, and 465 00:23:30,489 --> 00:23:33,410 Robert: this one really stood out to me because I, I 466 00:23:33,410 --> 00:23:37,660 Robert: think that folks might need a refresher on what you've done, 467 00:23:37,770 --> 00:23:41,010 Robert: but I'm interested in Keith's opinion as well. Suze, I 468 00:23:41,010 --> 00:23:43,250 Robert: have a feeling you sold all your real estate because 469 00:23:43,250 --> 00:23:45,449 Robert: you think that the real estate market is going to 470 00:23:45,449 --> 00:23:46,629 Robert: be obliterated. 471 00:23:47,209 --> 00:23:52,890 Suze: No, that's the stupidest thing I've ever heard, right? Absolutely not. 472 00:23:53,209 --> 00:23:56,729 Suze: We sold all of our real estate very simply cause 473 00:23:56,729 --> 00:23:59,229 Suze: we didn't need it anymore. 474 00:23:59,790 --> 00:24:02,510 Suze: When I was younger and I was touring, and we 475 00:24:02,510 --> 00:24:05,949 Suze: went all over with my career, we were in San Francisco, 476 00:24:06,020 --> 00:24:09,270 Suze: we were in South Africa, we were in New York, 477 00:24:09,349 --> 00:24:12,909 Suze: we were in all these different places. So we had 478 00:24:12,910 --> 00:24:17,550 Suze: homes there to serve us because truthfully, rather than renting 479 00:24:17,550 --> 00:24:19,670 Suze: a hotel, I mean, cause people were paying me to 480 00:24:19,670 --> 00:24:20,149 Suze: be there. 481 00:24:20,750 --> 00:24:24,198 Suze: Also, everyone. So, rather than paying me to stay in 482 00:24:24,199 --> 00:24:26,670 Suze: a hotel or whatever, it was like, all right, pay 483 00:24:26,670 --> 00:24:29,349 Suze: me my condo fees, do this, and we made a 484 00:24:29,349 --> 00:24:33,020 Suze: lot of money doing that, cause real estate went up. 485 00:24:33,270 --> 00:24:36,219 Suze: We have sold all of our real estate except for 486 00:24:36,219 --> 00:24:40,169 Suze: our Florida condominium, cause we really didn't need it anymore. 487 00:24:40,430 --> 00:24:44,869 Suze: We're now older, we wanted to downsize, just that simple, 488 00:24:44,890 --> 00:24:48,169 Suze: had nothing to do with the real estate market, Keith. 489 00:24:49,410 --> 00:24:53,329 Keith: Well, I'm nodding because I resemble that remark. We have 490 00:24:53,329 --> 00:24:56,670 Keith: gradually been selling off our real estate around the world 491 00:24:57,250 --> 00:24:59,930 Keith: because we're getting older, our kids are grown, we simply 492 00:24:59,930 --> 00:25:01,688 Keith: don't use it like we used to. 493 00:25:02,000 --> 00:25:05,040 Keith: Uh, and we've put that money into the markets. I've 494 00:25:05,040 --> 00:25:07,520 Keith: put it into a few of my motorcycles. Uh, my 495 00:25:07,520 --> 00:25:11,430 Keith: bride is putting it into her cooking equipment, which she loves. So, 496 00:25:11,439 --> 00:25:13,839 Keith: it's about what are you gonna do with it, not 497 00:25:13,839 --> 00:25:17,000 Keith: necessarily a reflection of the markets themselves. The, the distraction 498 00:25:17,000 --> 00:25:18,560 Keith: that you get in the hype is, you know, ok, 499 00:25:18,800 --> 00:25:22,199 Keith: home starts, home finishes, sellers withdrawing, you know, that is 500 00:25:22,199 --> 00:25:25,040 Keith: just all noise, food for the gristmill. If you need 501 00:25:25,040 --> 00:25:26,859 Keith: the real estate, own it. If you don't need it, 502 00:25:26,920 --> 00:25:27,099 Keith: don't own it. 503 00:25:28,390 --> 00:25:30,869 Suze: Yeah, I just have to say one other thing. I 504 00:25:30,869 --> 00:25:36,270 Suze: have never found that having an asset like real estate 505 00:25:36,270 --> 00:25:41,390 Suze: as an investment for me is particularly smart. Why? Because 506 00:25:41,390 --> 00:25:44,569 Suze: I have expenses that I need to make to keep 507 00:25:44,569 --> 00:25:50,349 Suze: them property taxes, insurance, maintenance. I have all kinds of 508 00:25:50,349 --> 00:25:52,270 Suze: risks like Mother Nature. 509 00:25:52,939 --> 00:25:56,099 Suze: I have risk of selling, which means I want to 510 00:25:56,099 --> 00:25:59,379 Suze: sell something. It took us one year, everybody, to sell 511 00:25:59,380 --> 00:26:03,869 Suze: our island home. Think about that. If you need money, 512 00:26:04,020 --> 00:26:07,659 Suze: and you're invested in an REIT or in the stock market, 513 00:26:08,510 --> 00:26:12,349 Suze: put it up for sale. Guess what? It sells. Buyer, seller, 514 00:26:12,430 --> 00:26:14,979 Suze: just that simple. That is not true in the real 515 00:26:14,979 --> 00:26:18,819 Suze: estate market. So for me, I don't particularly think real 516 00:26:18,819 --> 00:26:22,790 Suze: estate is a great investment. However, that's for me. Is 517 00:26:22,790 --> 00:26:24,869 Suze: it a great place to buy when you want to 518 00:26:24,869 --> 00:26:26,829 Suze: call it your home? Oh, you betcha. 519 00:26:27,369 --> 00:26:29,978 Suze: But that's just what I think. What do you got, Robert? 520 00:26:30,050 --> 00:26:31,060 Suze: How much more time do we have? 521 00:26:31,160 --> 00:26:33,420 Robert: All right, we'll do a couple more questions here. Keith. 522 00:26:33,500 --> 00:26:36,250 Robert: You mentioned bears and bulls at the top of the 523 00:26:36,250 --> 00:26:38,660 Robert: episode here. We had a bunch of people ask, how 524 00:26:38,660 --> 00:26:42,300 Robert: can the average person tell what stage the market is in? 525 00:26:43,410 --> 00:26:47,930 Keith: Oh, this is a really interesting question with a very 526 00:26:47,930 --> 00:26:51,050 Keith: simple answer actually. What you need to do is just 527 00:26:51,050 --> 00:26:54,359 Keith: open your eyeballs and listen to the people around you. 528 00:26:54,660 --> 00:26:58,599 Keith: If you go to the supermarket and everybody's talking about, oh, 529 00:26:58,609 --> 00:27:01,069 Keith: you gotta buy this, you gotta buy that, you're probably 530 00:27:01,069 --> 00:27:03,849 Keith: in a euphoria stage and guess what? That's a time 531 00:27:03,849 --> 00:27:06,209 Keith: to be selling into strength, particularly if you're dollar cost 532 00:27:06,209 --> 00:27:09,530 Keith: averaging to raise cash for the next downturn because the 533 00:27:09,530 --> 00:27:11,369 Keith: herd makes the wrong decision, 85% 534 00:27:11,652 --> 00:27:14,692 Keith: of the time if you're listening to everybody and they're 535 00:27:14,692 --> 00:27:17,253 Keith: scared out of their wits and you understand history that 536 00:27:17,253 --> 00:27:20,453 Keith: we've just talked about and you know that every single 537 00:27:20,453 --> 00:27:23,012 Keith: running of the Bears has been followed by a greater 538 00:27:23,012 --> 00:27:26,373 Keith: running of the Bulls, that's the time to buy. So 539 00:27:26,373 --> 00:27:28,373 Keith: investing doesn't have to be complicated unless you want to 540 00:27:28,373 --> 00:27:31,373 Keith: make it that way. Don't overthink it. Keep it really 541 00:27:31,373 --> 00:27:32,363 Keith: stupid simple, in fact. 542 00:27:33,103 --> 00:27:33,292 Suze: All right. 543 00:27:33,395 --> 00:27:35,836 Suze: So I just have to add something here, not about 544 00:27:35,836 --> 00:27:38,115 Suze: that cause I know we're coming to the end of 545 00:27:38,115 --> 00:27:42,635 Suze: the podcast. There is one question that everybody I know, 546 00:27:42,875 --> 00:27:47,805 Suze: Robert has it there somewhere. What about Palantir? What about IONQ? 547 00:27:48,196 --> 00:27:50,076 Suze: Do you still like them? Do you still want to 548 00:27:50,076 --> 00:27:53,586 Suze: buy them? Should we sell them? Especially those two stocks, 549 00:27:53,595 --> 00:27:56,615 Suze: cause I looked at some of the questions. Everybody wants 550 00:27:56,615 --> 00:27:58,385 Suze: to know about them. Tell them. 551 00:27:58,836 --> 00:28:00,036 Keith: Oh my goodness. All right. 552 00:28:00,569 --> 00:28:03,209 Keith: I can't advise any of you listening individually. If you 553 00:28:03,209 --> 00:28:05,010 Keith: want to sell them, sell them, don't let the door 554 00:28:05,010 --> 00:28:06,489 Keith: hit you in the rear on the way out, right? 555 00:28:06,689 --> 00:28:09,369 Keith: That's just the deal. But if you're looking for foundational 556 00:28:09,369 --> 00:28:11,609 Keith: companies that we spoke about, you're looking at companies that 557 00:28:11,609 --> 00:28:14,010 Keith: are going to change the course of humanity, you're looking 558 00:28:14,010 --> 00:28:17,489 Keith: at companies on the breakthrough of truly new technologies that 559 00:28:17,489 --> 00:28:19,130 Keith: mean something to our planet. 560 00:28:19,780 --> 00:28:22,938 Keith: I would respectfully submit there are probably no two better 561 00:28:22,939 --> 00:28:26,219 Keith: candidates anywhere out there, and yes, I own both of them. 562 00:28:26,380 --> 00:28:28,739 Keith: I don't intend to sell them. I probably will hold 563 00:28:28,739 --> 00:28:31,760 Keith: those for the rest of my foreseeable future and or life. 564 00:28:32,140 --> 00:28:35,819 Suze: And can you tell people why they have gone down 565 00:28:35,819 --> 00:28:36,640 Suze: so much? 566 00:28:37,699 --> 00:28:40,619 Suze: This is gonna get to him, everybody. We're also going 567 00:28:40,619 --> 00:28:44,219 Suze: to be broadcasting this, by the way, on my YouTube channel, 568 00:28:44,459 --> 00:28:47,420 Suze: on Keith's YouTube channel, so you might wanna watch us 569 00:28:47,420 --> 00:28:50,780 Suze: there as well, but watch what he looks like right 570 00:28:50,780 --> 00:28:52,880 Suze: now or listen to his voice. All right. 571 00:28:53,579 --> 00:28:56,459 Keith: Steam is coming out my ears. This stuff makes my 572 00:28:56,459 --> 00:29:00,500 Keith: brain explode. Both of these companies are doing very well. 573 00:29:00,609 --> 00:29:03,739 Keith: They're doing very innovative things. Their customers cannot get enough 574 00:29:03,739 --> 00:29:04,660 Keith: of what they're buying. These are 575 00:29:04,796 --> 00:29:08,406 Keith: not companies in trouble. What you are seeing in Palantir's 576 00:29:08,406 --> 00:29:11,816 Keith: case is there's an individual named Michael Burry who was 577 00:29:11,816 --> 00:29:15,005 Keith: famous for The Big Short, and everybody's running around going, Oh, 578 00:29:15,056 --> 00:29:18,495 Keith: is Michael Burry correct? His analysis is flawed. He's predicted 579 00:29:18,495 --> 00:29:21,735 Keith: 10 out of the last 2 recessions. He is comparing 580 00:29:21,735 --> 00:29:24,215 Keith: apples to oranges, and I think if there were a 581 00:29:24,215 --> 00:29:27,936 Keith: serious investigation, it would be found that people like Mr. 582 00:29:28,056 --> 00:29:32,296 Keith: Burry have engaged in systematically manipulating the stock lower. 583 00:29:32,972 --> 00:29:34,852 Keith: And so, you know, I'm not alleging that. I don't 584 00:29:34,852 --> 00:29:36,251 Keith: want to get sued. I want to be clear. I 585 00:29:36,251 --> 00:29:38,371 Keith: don't know the answer to that, but I think there'd 586 00:29:38,371 --> 00:29:40,692 Keith: be a high probability that there's a lot of funny 587 00:29:40,692 --> 00:29:44,192 Keith: business going on, none of which has anything to do 588 00:29:44,332 --> 00:29:47,651 Keith: with the underlying value of the stock. IONQ is another 589 00:29:47,651 --> 00:29:50,491 Keith: one that is in the social meme space. It is 590 00:29:50,491 --> 00:29:53,592 Keith: highly leveraged. There are people making bets all day long 591 00:29:53,592 --> 00:29:55,052 Keith: on whether it's going to go up, whether it's gonna 592 00:29:55,052 --> 00:29:57,531 Keith: go down. People are talking about the AI trade. Is 593 00:29:57,531 --> 00:29:59,161 Keith: it gonna fail? Is it too much? Are they ever 594 00:29:59,161 --> 00:29:59,812 Keith: gonna make money? 595 00:30:00,660 --> 00:30:03,780 Keith: They are completely ignoring the fundamental issue which is this 596 00:30:03,780 --> 00:30:07,939 Keith: company is breaking through into an entirely new computing space. 597 00:30:08,020 --> 00:30:10,449 Keith: This is on par with the introduction of the chips, 598 00:30:10,780 --> 00:30:13,739 Keith: the introduction of the internet itself, the way we transmit 599 00:30:13,739 --> 00:30:17,260 Keith: and receive data, how data actually functions. I don't think 600 00:30:17,260 --> 00:30:19,180 Keith: it gets any better than that. So if you want 601 00:30:19,180 --> 00:30:21,140 Keith: to listen to the noise again and you want to sell, 602 00:30:21,239 --> 00:30:21,739 Keith: you need to sell... 603 00:30:22,369 --> 00:30:24,800 Keith: Do it. I'll be happy to pick up your shares 604 00:30:24,800 --> 00:30:25,689 Keith: if I've got the cash. 605 00:30:25,969 --> 00:30:27,770 Suze: So I know, like I said, we're coming to an 606 00:30:27,770 --> 00:30:30,650 Suze: end here. So I have two questions for you. Number one, 607 00:30:31,010 --> 00:30:34,599 Suze: people feel like the AI space is absolutely going to 608 00:30:34,599 --> 00:30:39,449 Suze: destroy their job. Their unemployment's going to go up, that it's, 609 00:30:39,569 --> 00:30:43,089 Suze: that there's no way it can continue on. Comments on that, Keith. 610 00:30:43,810 --> 00:30:46,130 Keith: Well, I think that that's, you know, fear is real, right? 611 00:30:46,209 --> 00:30:48,329 Keith: And I get it. The unknown is always that way. 612 00:30:48,609 --> 00:30:50,369 Keith: But I think all the data I've seen, all the 613 00:30:50,369 --> 00:30:53,319 Keith: scientists I've spoken with around the world, the exact opposite 614 00:30:53,319 --> 00:30:55,890 Keith: is true. I think that 65 to 70% of the 615 00:30:55,890 --> 00:30:58,050 Keith: people who are, are working today in fields that they 616 00:30:58,050 --> 00:31:01,199 Keith: think they understand will be working in entirely new fields 617 00:31:01,199 --> 00:31:03,890 Keith: that we don't even understand or exist, jobs that don't 618 00:31:03,890 --> 00:31:04,410 Keith: exist yet. 619 00:31:04,719 --> 00:31:08,569 Keith: And the parallel is agriculture. As recently as the early 1900s, 620 00:31:08,849 --> 00:31:12,010 Keith: 95 to 98% of America worked in agriculture in one 621 00:31:12,010 --> 00:31:13,920 Keith: way or another. And if you had walked into a 622 00:31:13,920 --> 00:31:16,500 Keith: grange and said to everybody in the room, hey, 98% 623 00:31:16,500 --> 00:31:19,439 Keith: of you are gonna be out of agriculture 100 years 624 00:31:19,439 --> 00:31:21,270 Keith: from now, you would have been laughed out of the room. 625 00:31:21,569 --> 00:31:23,530 Keith: But that's where we are very much with AI. So 626 00:31:23,530 --> 00:31:24,750 Keith: the risk is not losing your 627 00:31:24,875 --> 00:31:27,834 Keith: job to AI it's losing your job to somebody who 628 00:31:27,834 --> 00:31:31,234 Keith: knows how to use AI. It's an opportunity, it's a tool, 629 00:31:31,305 --> 00:31:34,864 Keith: and I would respectfully submit to anybody who's fearful about this, 630 00:31:35,074 --> 00:31:38,194 Keith: that whatever field you're in, learn how to use it 631 00:31:38,194 --> 00:31:40,234 Keith: because it's a tool. And if you know how to 632 00:31:40,234 --> 00:31:43,094 Keith: do it, then instantly you are more valuable to your 633 00:31:43,094 --> 00:31:44,885 Keith: employer or to whatever it is you do for a living. 634 00:31:45,314 --> 00:31:48,035 Suze: All right, and then the very last question. 635 00:31:48,739 --> 00:31:51,890 Suze: And one that I'm so excited, since I know the 636 00:31:51,890 --> 00:31:56,489 Suze: answer to it is everybody wants to know. 637 00:31:57,119 --> 00:32:00,800 Suze: When is Fitz... When are we gonna bring out this 638 00:32:00,800 --> 00:32:05,099 Suze: ETF that we talked about almost two years ago? When 639 00:32:05,400 --> 00:32:09,709 Suze: is that going to happen, sir? The floor is yours. 640 00:32:09,880 --> 00:32:14,170 Keith: Oh my goodness. All right, people, here's some big news. Now. 641 00:32:14,300 --> 00:32:15,880 Keith: Suze and I have been working on this for a 642 00:32:15,880 --> 00:32:18,319 Keith: very long time, and the reason we have not been 643 00:32:18,319 --> 00:32:20,640 Keith: able to talk about this is because there are very 644 00:32:21,225 --> 00:32:26,946 Keith: strict, strict, strict rules about regulated securities product, but as 645 00:32:26,946 --> 00:32:32,265 Keith: of yesterday, I filed with the SEC for a portfolio 646 00:32:32,265 --> 00:32:35,566 Keith: that we intend to release when they are done vetting 647 00:32:35,566 --> 00:32:38,465 Keith: it and when they are done approving it. I cannot 648 00:32:38,465 --> 00:32:40,865 Keith: talk about what's in it. I cannot talk about what 649 00:32:40,865 --> 00:32:43,206 Keith: it is. I cannot talk about when that's gonna launch 650 00:32:43,505 --> 00:32:44,625 Keith: because I'm prohibited by low 651 00:32:44,891 --> 00:32:46,972 Keith: from doing so, but what I can tell you is 652 00:32:46,972 --> 00:32:50,371 Keith: the ticker is going to be F I T Z Fitz, 653 00:32:50,651 --> 00:32:52,651 Keith: and you will hear more the moment I can tell you. 654 00:32:53,332 --> 00:32:56,491 Suze: I wanted him to say Fitzy, but he said, no, 655 00:32:56,572 --> 00:33:01,212 Suze: I'm just going to stay with Fitz. So it is coming. 656 00:33:01,371 --> 00:33:05,232 Suze: It is out of our hands by all means. It 657 00:33:05,232 --> 00:33:08,682 Suze: is now in the hands of the bureaucracy, but 658 00:33:09,069 --> 00:33:11,989 Suze: we're working for you. We're working for you to give 659 00:33:11,989 --> 00:33:16,469 Suze: you an alternative for you to say, oh, I don't 660 00:33:16,469 --> 00:33:19,069 Suze: want to buy individual stocks. I don't know quite what 661 00:33:19,069 --> 00:33:20,819 Suze: to do. I don't know when to sell, I don't 662 00:33:20,819 --> 00:33:24,910 Suze: know when to buy. Well, soon, you probably aren't gonna 663 00:33:24,910 --> 00:33:28,209 Suze: have to worry about that. Any closing comments, Keith? 664 00:33:28,790 --> 00:33:32,150 Keith: Keep the faith, everybody. This is tough. It's emotionally uncertain. 665 00:33:32,550 --> 00:33:35,750 Keith: But uncertainty and chaos create opportunity. And if you can 666 00:33:35,750 --> 00:33:37,589 Keith: come to terms with the person in the mirror that 667 00:33:37,589 --> 00:33:40,500 Keith: Suze mentioned, you know what? Everything is gonna be OK. 668 00:33:40,550 --> 00:33:42,750 Keith: The sun's gonna come up tomorrow. You just don't know 669 00:33:42,750 --> 00:33:44,709 Keith: it yet. So, thank you so much. 670 00:33:44,829 --> 00:33:48,229 Suze: All right, two things here, which is we are going 671 00:33:48,229 --> 00:33:52,670 Suze: to put this up on YouTube. My personal YouTube channel 672 00:33:52,670 --> 00:33:56,489 Suze: is youtube.com/ Suze Orman. What's yours, Keith? 673 00:33:56,750 --> 00:33:59,189 Keith: I have no idea. It's Keith Fitz-Gerald on YouTube. 674 00:34:00,270 --> 00:34:03,310 Suze: You don't know your... see, we're supposed to be listening 675 00:34:03,310 --> 00:34:06,510 Suze: to you about stocks, but that actually is a good thing. 676 00:34:06,589 --> 00:34:09,629 Suze: It's like he doesn't know. He knows what he needs 677 00:34:09,629 --> 00:34:11,699 Suze: to know, and he doesn't know what he doesn't need 678 00:34:11,699 --> 00:34:15,520 Suze: to know. So until next week, there's really only one 679 00:34:15,520 --> 00:34:18,149 Suze: thing that we want you to remember, which is we 680 00:34:18,149 --> 00:34:23,529 Suze: love Fitzy. We love talking with him, and as always, 681 00:34:23,709 --> 00:34:27,330 Suze: people first, then money, then things. All right, all of you, 682 00:34:27,870 --> 00:34:29,149 Suze: stay safe. Bye.