WEBVTT - Apple, FTX, Ford Mach-E, and Markets 0:00:00.840 --> 0:00:04.000 Welcome to the Bloomberg Markets Podcast. I'm Paul Sweeney alongside 0:00:04.040 --> 0:00:05.240 my co host Matt Miller. 0:00:05.640 --> 0:00:09.640 Every business day we bring you interviews from CEOs, market pros, 0:00:09.720 --> 0:00:13.600 and Bloomberg experts, along with essential market moven news. 0:00:14.160 --> 0:00:17.279 Find the Bloomberg Markets podcast called Apple Podcasts or wherever 0:00:17.360 --> 0:00:20.520 you listen to podcasts, and at Bloomberg dot com slash podcast. 0:00:21.560 --> 0:00:24.759 Now, let's turn to one of the other large stories 0:00:24.800 --> 0:00:29.120 today at Bloomberg Exclusive that China planning to broaden a 0:00:29.240 --> 0:00:33.159 ban on the use of iPhones and sensitive departments to 0:00:33.280 --> 0:00:38.680 government backed agencies and state companies in China. Anurag Runna 0:00:38.920 --> 0:00:42.519 is our senior tech analyst with Bloomberg Intelligence and he 0:00:42.800 --> 0:00:47.600 joins us by zoom Now. Anurrag, it sounds like this 0:00:47.840 --> 0:00:55.040 latest story is essentially expanding the scope of these restrictions. 0:00:54.280 --> 0:00:55.240 They were already banned. 0:00:55.800 --> 0:00:57.960 Well, they weren't banned, it sounds like, But it sounds 0:00:58.000 --> 0:01:00.520 like for some reason, the markets believe that at the 0:01:00.560 --> 0:01:02.760 scope is much broader than it was yesterday at the 0:01:02.760 --> 0:01:05.839 Wall Street Journal report coming out that you know, people 0:01:05.880 --> 0:01:08.319 were not being asked not to bring their iPhones in. 0:01:08.760 --> 0:01:09.000 Is that? 0:01:09.160 --> 0:01:09.880 Is that right here? 0:01:10.440 --> 0:01:11.399 So I'll tell you. 0:01:11.440 --> 0:01:14.280 I talked to the analysts in Asia and they basically said, listen, 0:01:14.280 --> 0:01:16.440 if you are a Chinese government official, you were not 0:01:17.040 --> 0:01:19.360 you were it was basically bad manners for you to 0:01:19.440 --> 0:01:21.560 even show your iPhone in the office, So you have 0:01:21.880 --> 0:01:24.399 I mean, this is just a This was not to 0:01:24.440 --> 0:01:27.319 be used at work at all and under any circumstances. 0:01:27.560 --> 0:01:30.039 So this is just an extension of that. But to 0:01:30.080 --> 0:01:33.520 be very frank I mean this, you know, financially, I 0:01:33.520 --> 0:01:37.280 would say, people government official not buying the iPhone is 0:01:37.280 --> 0:01:40.119 not going to be material for Apple. But the question 0:01:40.200 --> 0:01:42.520 really is not so much about that. The question is 0:01:42.520 --> 0:01:46.279 is the close relationship that China has had with Apple 0:01:46.400 --> 0:01:48.720 or the Apple has had with China, are we seeing 0:01:48.760 --> 0:01:50.600 some kind of indent in that. I think that is 0:01:50.640 --> 0:01:53.800 the biggest question here, because as everybody knows, Apple is 0:01:53.960 --> 0:01:57.480 very dependent on China for all its parts, all the assembly, 0:01:58.560 --> 0:02:00.840 and frankly, you know you were to look at all 0:02:00.840 --> 0:02:03.960 the US companies, Apple's done so much better than anybody 0:02:04.040 --> 0:02:08.600 else since even the tartafar begins, Apple was basically insulated 0:02:08.639 --> 0:02:09.160 from all of that. 0:02:10.800 --> 0:02:13.600 Well, and Apple shares I guess, reacting here down three 0:02:13.639 --> 0:02:15.600 point seven percent. But I mean, do we have any 0:02:15.600 --> 0:02:20.320 indication that this would spread not just to the I 0:02:20.320 --> 0:02:25.000 guess twenty percent of sales roughly that China that Apple 0:02:25.040 --> 0:02:29.720 does in China, but also to the manufacturing end or 0:02:29.800 --> 0:02:31.720 is that just kind of the market's thinking ahead. 0:02:32.600 --> 0:02:34.920 Yeah, I mean that's really what the big you know, 0:02:35.000 --> 0:02:37.560 the danger here is you know them nobody, you know, 0:02:37.960 --> 0:02:40.200 few government officials not buying the iPhone is not going 0:02:40.240 --> 0:02:42.919 to move the needle at all for Apple. But the 0:02:43.000 --> 0:02:45.600 question really is, you know, are they going to try 0:02:45.639 --> 0:02:48.400 to restrict other things We're going to have, you know, tariffs, 0:02:48.480 --> 0:02:51.120 it's all those things that are coming into play. But 0:02:51.840 --> 0:02:53.520 you know, we'll find out, I would say, in the 0:02:53.520 --> 0:02:55.720 next six to twelve months, if there is any change 0:02:55.720 --> 0:02:59.840 in relationship. Apple's done a phenomenal job of its relationship, 0:02:59.840 --> 0:03:03.640 but China. It employs millions of people in China, not 0:03:03.800 --> 0:03:09.040 directly through their factories, and you know it, as you said, 0:03:09.080 --> 0:03:12.840 it's nineteen percent of Apple's revenue. So it is very 0:03:12.400 --> 0:03:15.680 overly dependent on China for a lot of things. So 0:03:16.120 --> 0:03:18.280 you know, I'm sure they are hoping that none of 0:03:18.320 --> 0:03:22.959 that changes. Because of recent events between the US and China. 0:03:23.040 --> 0:03:26.400 Apple shares not doing poorly they're up thirty five thirty 0:03:26.440 --> 0:03:29.520 six percent year to date, but they have dipped below 0:03:29.520 --> 0:03:31.360 their one hundred day moving average right now trading at 0:03:31.360 --> 0:03:32.680 one hundred and seventy six dollars. 0:03:32.720 --> 0:03:36.320 Even what do you think about about the stock on rag. 0:03:37.200 --> 0:03:38.920 See when you look at it. I think a lot 0:03:39.000 --> 0:03:42.200 will depend on this overhang now, because next week we're 0:03:42.200 --> 0:03:44.960 going to see the new iPhone coming out, the iPhone fifteen. 0:03:45.960 --> 0:03:48.040 You know, we think it's going to do well. But 0:03:48.200 --> 0:03:51.559 at the same time, now we have another unnecessary cloud 0:03:51.280 --> 0:03:53.880 on top of this stock, so we have to figure 0:03:53.880 --> 0:03:57.000 out what this really means. I do not know whether 0:03:57.400 --> 0:03:59.600 when Apple announces the iPhone of if they're going to 0:03:59.680 --> 0:04:03.480 make any comment on any of these news breaks, because 0:04:03.720 --> 0:04:07.240 I think as long as this overhang is there, you know, 0:04:07.280 --> 0:04:09.760 Apple will have a hard time in the near future. 0:04:10.280 --> 0:04:14.440 How has Apple typically interacted with the Chinese government. 0:04:14.680 --> 0:04:16.840 It's been amazing. I mean, they have done so much 0:04:16.839 --> 0:04:20.280 better than any other company in the Western world. They 0:04:20.279 --> 0:04:22.440 were not affected by any of the bands. They are 0:04:22.600 --> 0:04:25.400 very you know, widely welcome there. In fact, you know, 0:04:25.440 --> 0:04:27.880 one of the things we saw last year there was 0:04:27.920 --> 0:04:30.560 some issue with the with the production of the Pro 0:04:30.680 --> 0:04:34.560 model because of COVID nineteen restrictions in China, and that 0:04:34.680 --> 0:04:37.799 led to some you know, shortfall of shipments. But frankly, 0:04:38.920 --> 0:04:40.720 right about a month month and a half after that, 0:04:41.120 --> 0:04:43.720 China changed their COVID policies. Now I'm not saying they 0:04:43.720 --> 0:04:46.400 did it because of Apple, but they have been very 0:04:46.440 --> 0:04:48.800 friendly to Apple, and Apple's been very nice to them. 0:04:48.960 --> 0:04:51.480 What's the biggest opportunity for Apple? Is it India? 0:04:52.800 --> 0:04:55.560 It is China. Actually, from a mathematical point of view, 0:04:55.920 --> 0:04:58.479 India is going to be very long term because you know, 0:04:58.560 --> 0:05:03.040 the gdpeople are capital for India is only twenty five 0:05:03.080 --> 0:05:05.559 hundred dollars, while in China it's about close to thirteen 0:05:05.600 --> 0:05:06.760 thousand dollars. 0:05:07.200 --> 0:05:09.360 Just quickly here an rag because we only have about 0:05:09.360 --> 0:05:12.960 a minute left. What should we expect next week from 0:05:13.200 --> 0:05:16.320 the announcement of these new products? Is there anything that 0:05:16.320 --> 0:05:17.560 could really be a game changer? 0:05:18.760 --> 0:05:21.400 I think the question really is the highest end model 0:05:21.440 --> 0:05:25.320 that they have, it's the iPhone Promax model. I'm looking for. 0:05:25.400 --> 0:05:27.039 The biggest thing we are looking for is, you know, 0:05:27.080 --> 0:05:29.560 what's the price of that product? Because that price has 0:05:29.600 --> 0:05:32.000 remained constant for the last three years. If there is 0:05:32.120 --> 0:05:34.679 any changes to that price, I mean that really does 0:05:35.040 --> 0:05:37.760 wonders to the iPhone sales for the next twelve months, 0:05:38.000 --> 0:05:41.440 because that model itself is supposed to have a very 0:05:41.520 --> 0:05:44.400 high end camera, much better than anything Apple's done in 0:05:44.440 --> 0:05:44.880 the past. 0:05:45.120 --> 0:05:47.920 Simone's an Android user. No, I'm sorry to say. 0:05:48.040 --> 0:05:50.800 I'm an iPhone user in part because of the because 0:05:50.800 --> 0:05:53.080 of the camera well, and also because I moved abroad 0:05:53.080 --> 0:05:54.640 and had to get an iPhone. I can't remember the 0:05:54.680 --> 0:05:55.920 actually irational, but. 0:05:56.400 --> 0:05:59.720 Android users, I feel like they spoil a fun for 0:05:59.880 --> 0:06:00.520 just family. 0:06:00.640 --> 0:06:03.160 John Tucker group chats who is an andreid. 0:06:03.240 --> 0:06:05.480 He has a green bubble. John Tucker has a green bubble. 0:06:06.600 --> 0:06:08.719 I thought, you know that that sounded like an insult, 0:06:08.720 --> 0:06:11.279 but then Matt went on to explain, you know, mister 0:06:11.400 --> 0:06:12.559 Spock would have anything. 0:06:12.600 --> 0:06:14.400 I think mister Spock would be and Andrew, which. 0:06:14.200 --> 0:06:15.640 I take as an attack on my ears. 0:06:16.040 --> 0:06:19.279 No, it's because you're a very technical, technically savvy man. 0:06:19.360 --> 0:06:21.840 All right, Honor Agrana, thanks very much for joining us. 0:06:23.120 --> 0:06:26.520 You're listening to the Team Ken's Are Live program Bloomberg 0:06:26.560 --> 0:06:29.920 Markets weekdays at ten am Eastern on Bloomberg dot com, 0:06:30.040 --> 0:06:33.160 the iHeartRadio app and the Bloomberg Business app, or listen 0:06:33.240 --> 0:06:35.360 on demand wherever you get your podcasts. 0:06:37.640 --> 0:06:40.840 Let's get over to our legal reporter Ava Benny Morrison 0:06:40.920 --> 0:06:43.800 right now, she's at courthouse here in New York talk 0:06:43.880 --> 0:06:49.240 about breaking news on the FTX case. We have seen 0:06:49.440 --> 0:06:54.720 across the Bloomberg terminal that Ryan Salome, formerly of. 0:06:54.839 --> 0:06:56.919 FTX, he's planning to play guilty. 0:06:56.960 --> 0:07:01.200 It sounds like exactly he was as an executive along 0:07:01.600 --> 0:07:04.200 with SBF with Sam Bankman freed, and it looks like 0:07:04.200 --> 0:07:07.400 he's going to plead guildy criminal charges over the collapse 0:07:07.440 --> 0:07:10.679 of that cryptocurrency exchange EVA. 0:07:10.720 --> 0:07:11.240 What do we know? 0:07:12.560 --> 0:07:16.360 We know that Ryan Salame has been in negotiations with 0:07:16.840 --> 0:07:21.160 prosecutors for a while. Now today he is going to 0:07:21.400 --> 0:07:25.880 front the federal courthouse in downtown Manhattan and enter ala 0:07:25.960 --> 0:07:29.880 of guilty to criminal charges. We don't know yet what 0:07:30.080 --> 0:07:33.160 exactly what those charges are or whether that means he 0:07:33.280 --> 0:07:37.000 will also be a cooperating witness and agree to testify 0:07:37.080 --> 0:07:38.600 against Bankman freed or not. 0:07:39.520 --> 0:07:43.480 Yeah, what does this mean for the potential cases against 0:07:43.520 --> 0:07:46.920 some of the other players in this You know Bankman Freed, 0:07:47.040 --> 0:07:50.360 some of his other former colleagues, Gary Wayang Caro, Allison, 0:07:50.800 --> 0:07:55.520 Shad Singh, you know, what do we understand and what 0:07:55.560 --> 0:07:58.680 does your reporting suggest about his willingness to cooperate with 0:07:58.880 --> 0:07:59.880 prosecutors there? 0:08:01.040 --> 0:08:04.800 Well, from our reporting and talking to different sources, the 0:08:04.840 --> 0:08:09.160 sense we've got is Ryan has been digging his heels 0:08:09.160 --> 0:08:13.520 in about corporating with the prosecutors, So we understand that 0:08:14.080 --> 0:08:16.560 this will more than likely be a plea deal. He 0:08:16.600 --> 0:08:20.000 will agree to plead guilty to certain charges, but he 0:08:20.240 --> 0:08:24.160 doesn't want to testify against Sam bakman Fred and prosecutors 0:08:24.160 --> 0:08:28.320 actually may suggested that in a court filing a few 0:08:28.400 --> 0:08:31.240 weeks ago, saying that Ryan Salomey had said he would 0:08:33.080 --> 0:08:37.120 take the fifth if he was called to testify. Worth 0:08:37.120 --> 0:08:41.200 noting here that prosecutors already have three former executives from 0:08:41.360 --> 0:08:45.400 FTX and alome To Research, Caroline Nelson, Gary Wang, and 0:08:45.480 --> 0:08:49.480 Nashad Singh, who have pleaded guilty to their conduct as 0:08:49.520 --> 0:08:52.080 well and have agreed to cooperate with prosecutors. 0:08:52.600 --> 0:08:54.280 What do we know about how much money these guys 0:08:54.360 --> 0:08:57.400 have or gals? 0:08:57.440 --> 0:09:00.360 In terms of Carolyn Ellison, you know, I think it's 0:09:00.400 --> 0:09:04.280 interesting that they're able to mount these legal defenses and 0:09:04.280 --> 0:09:09.040 they're not using state appointed lawyers, So do they have 0:09:09.280 --> 0:09:11.199 still a ton of cash stashed away. 0:09:12.320 --> 0:09:16.920 That's a really good question. We know that some of 0:09:16.960 --> 0:09:20.679 these executives received huge loans from Alamina Research. We're talking 0:09:20.720 --> 0:09:24.079 tens of millions of dollars here, But some of the 0:09:24.400 --> 0:09:27.760 executives like Nishead Singh, who have previously played guilty, have 0:09:27.880 --> 0:09:31.720 also agreed to forfeit some of their assets, including property. 0:09:32.559 --> 0:09:35.240 So it's unclear, but it's a really good question. They're 0:09:35.240 --> 0:09:39.200 not using public defenders, they're using private attorneys, so it'd 0:09:39.200 --> 0:09:41.640 be interesting to see just how much money they still 0:09:41.679 --> 0:09:45.240 have and whether that could potentially be called back by 0:09:45.400 --> 0:09:47.680 the FTX, bankruptcy estate. 0:09:49.080 --> 0:09:49.360 AVA. 0:09:49.480 --> 0:09:51.880 Really interesting stuff. Thank you for saying across this. This 0:09:51.920 --> 0:09:54.680 is Eva Benny Morrison. She's our legal reporter for Bloomberg 0:09:54.720 --> 0:09:56.960 News at the Courthouse in Manhattan. 0:09:57.360 --> 0:10:00.480 You're listening to the teeth catch our line program Bloomberg 0:10:00.559 --> 0:10:04.120 Markets weekdays at ten am Eastern on Bloomberg Radio, the 0:10:04.200 --> 0:10:07.400 tune in app, Bloomberg dot Com, and the Bloomberg Business App. 0:10:07.440 --> 0:10:10.280 You can also listen live on Amazon Alexa from our 0:10:10.280 --> 0:10:15.400 flagship New York station, Just say Alexa play Bloomberg eleven thirty. 0:10:16.400 --> 0:10:19.520 Now it's our time of the Thursday where we talk 0:10:19.679 --> 0:10:24.320 to Barry rid Holts, our Bloomer opinion colonists, founder of 0:10:24.400 --> 0:10:30.040 Ritsholt Wealth Management and host of Masters in Business. Love 0:10:30.160 --> 0:10:33.400 chatting with you always bear it and you have a 0:10:33.400 --> 0:10:38.319 bit of an interesting take out. You quote William Goldman, 0:10:39.120 --> 0:10:41.640 the scriptwriter for Butch Cassidy and The Sun Dance Kids. 0:10:41.679 --> 0:10:45.480 All the Presidents, Man, marathon Man, etcetera. Nobody knows Princess 0:10:46.040 --> 0:10:48.960 Princess Bride. There's too many, you. 0:10:48.920 --> 0:10:49.840 Can get through all of them. 0:10:49.840 --> 0:10:54.200 There's a laundry list, marathon Man, etcetera. Anyway, point being, 0:10:54.360 --> 0:10:58.800 nobody knows anything. So Wall Street doesn't know anything either. 0:10:59.360 --> 0:11:02.760 Very well, well, let me give you a little context 0:11:03.000 --> 0:11:06.480 about what led Goldman to write that in his book 0:11:06.520 --> 0:11:10.120 Adventures in the Screen Trade. So there was a couple 0:11:10.200 --> 0:11:15.320 of guys named Lucas and Spielberg shopping moving around. 0:11:15.600 --> 0:11:17.240 They couldn't get it made, and it. 0:11:17.320 --> 0:11:21.280 Was called Raiders of the Lost Dark, and everybody turned 0:11:21.320 --> 0:11:24.760 them down on it. And not long after that, Star 0:11:25.000 --> 0:11:28.920 or before that, Star Wars was another film that all 0:11:29.000 --> 0:11:34.240 the major studio execs turned down. And I kind of 0:11:34.360 --> 0:11:38.720 was reminded of this because very quietly in the midst 0:11:38.760 --> 0:11:44.120 of Barbenheimer, John Wick four snuck out and did nearly 0:11:44.200 --> 0:11:47.840 half a billion dollars in box office, which is a 0:11:47.960 --> 0:11:51.559 huge number for a fourth sequel of Just to Shoot 0:11:51.600 --> 0:11:54.920 Him Up. And I did a little research and discovered 0:11:55.720 --> 0:11:59.480 nobody in Hollywood wanted to make the first Jock John 0:11:59.520 --> 0:12:00.240 Wick film. 0:12:00.559 --> 0:12:02.120 And it's a reminder. 0:12:01.720 --> 0:12:07.800 That experts who are thinking about the future really have 0:12:08.120 --> 0:12:12.320 very little expertise as to what's gonna happen next quarter, 0:12:12.520 --> 0:12:14.000 next year, next decade. 0:12:14.559 --> 0:12:16.079 Nobody knows anything. 0:12:16.080 --> 0:12:18.720 That I mean, this reminds me of the R Star 0:12:18.880 --> 0:12:22.800 debate that we're having. It seems beyond ridiculous. I mean, 0:12:22.800 --> 0:12:25.000 it's fine if you want to talk about whether or 0:12:25.000 --> 0:12:27.480 not the Fed's going to raise rates or cut but 0:12:27.559 --> 0:12:31.640 when you get into that kind of unknowable, it just 0:12:32.040 --> 0:12:35.839 is an exercise in futility. 0:12:35.880 --> 0:12:37.000 Purely theoretical. 0:12:37.280 --> 0:12:39.760 And we will be having that discussion this afternoon with 0:12:39.840 --> 0:12:42.440 John Williams at three thirty pm on Bloomberg Television. 0:12:42.440 --> 0:12:44.199 But can I take you to the Wall Street Angleberry, 0:12:44.200 --> 0:12:46.959 because we had this great story out earlier this week, 0:12:47.000 --> 0:12:50.680 I think yesterday, I think Wall Street stock Market calls 0:12:50.800 --> 0:12:56.040 very by firm, end by floor, and I'm just illustrating, 0:12:56.120 --> 0:12:59.800 perhaps your point the cell side research teams are farm 0:13:00.080 --> 0:13:03.880 are negative on you as equities than the investment managed teams. 0:13:03.960 --> 0:13:07.520 You can see this even playing out within Morgan Stanley. 0:13:07.600 --> 0:13:10.199 So how do you how do you live in this 0:13:10.320 --> 0:13:13.240 in this sort of world if you are if you're 0:13:13.240 --> 0:13:15.959 a trader, So first. 0:13:16.160 --> 0:13:20.280 It's really important to separate the signal from the noise. 0:13:20.600 --> 0:13:23.920 When I was on a trading desk, my habit was 0:13:24.040 --> 0:13:28.000 to create a reading list but not read anything until 0:13:28.080 --> 0:13:31.320 after four o'clock because if you read something early in 0:13:31.320 --> 0:13:35.839 the morning, it very often would influence how you trade it. 0:13:35.960 --> 0:13:38.880 And in fact, there have been academic studies that have 0:13:38.920 --> 0:13:42.679 looked as to how sunny or rainy it is in 0:13:42.679 --> 0:13:46.120 New York City, and the actual weather has an impact 0:13:46.200 --> 0:13:48.679 on whether or not markets trade up a little bit 0:13:48.760 --> 0:13:52.120 or trade down a little bit. Your psyche is so 0:13:52.360 --> 0:13:55.800 malleable in ways that you're just wholly unaware of that. 0:13:55.920 --> 0:13:58.760 A nice day means you're more optimistic, and hey, it's 0:13:58.800 --> 0:14:01.640 beautiful out, and you tend to be more of a buyer. 0:14:02.200 --> 0:14:05.720 So you really have to know yourself. You really have 0:14:05.840 --> 0:14:11.160 to understand what's driving your decision making, and that's really 0:14:11.200 --> 0:14:14.679 really difficult for people to do. We are just very 0:14:14.800 --> 0:14:18.720 much unaware of our internal thought process. We think we're 0:14:18.760 --> 0:14:24.040 making independent decisions, but lots of little influences affect how 0:14:24.080 --> 0:14:26.520 we invest, how we trade, how we make decisions. 0:14:27.400 --> 0:14:29.960 Was John Wick four, any good? Did you watch four? 0:14:30.760 --> 0:14:32.240 I haven't seen four yet. 0:14:32.560 --> 0:14:35.920 I loved the first one, and I found the second 0:14:35.920 --> 0:14:37.239 one very amusing. 0:14:38.480 --> 0:14:39.920 I haven't seen three yet. 0:14:39.960 --> 0:14:42.520 What I kind of do is like what I did 0:14:42.520 --> 0:14:45.160 with Guardians of the Galaxy when the third one came out. 0:14:45.560 --> 0:14:47.520 I watched the first one, I watched the second one, 0:14:47.960 --> 0:14:49.840 and then we went to the movies to see the 0:14:49.920 --> 0:14:53.080 third one in three consecutive days. By the way, John 0:14:53.120 --> 0:14:57.080 Wick five already approved it's going to be out in 0:14:57.120 --> 0:14:59.680 twenty twenty six. Let me just put a little flesh 0:14:59.680 --> 0:15:02.480 on the b owns as to how much money this 0:15:02.640 --> 0:15:03.200 film made. 0:15:03.280 --> 0:15:05.760 So it was made independently. The guys who were. 0:15:05.600 --> 0:15:11.200 The choreographers and stuntmen for the Matrix movies were the 0:15:11.240 --> 0:15:15.960 co directors. They had Keanu Reeves attached to this. No 0:15:15.960 --> 0:15:18.200 one would make it, so they made it as an 0:15:18.200 --> 0:15:23.480 independent film. They self funded it. It costs twenty million dollars. Today, 0:15:23.600 --> 0:15:28.880 the John Wick franchise has generated two billion dollars between 0:15:28.880 --> 0:15:30.680 the box office, the streaming rights. 0:15:30.960 --> 0:15:32.600 There was a spinoff film. 0:15:32.360 --> 0:15:36.640 There was a television series, comic books, video games, two 0:15:36.720 --> 0:15:41.400 billion dollars. They couldn't get anybody to greenlight a twenty 0:15:41.440 --> 0:15:44.760 million dollar movie it And now turn around and let's 0:15:44.800 --> 0:15:49.440 apply this to investors. Which ETF, which mutual fund? What's 0:15:49.480 --> 0:15:52.000 the FED gonna do? Where're the mark? Where's the market 0:15:52.000 --> 0:15:56.040 gonna be? Instead of focusing on next month or next quarter. 0:15:56.400 --> 0:15:58.960 The one thing we know is that over ten and 0:15:59.040 --> 0:16:01.960 twenty year period we have a pretty good idea of 0:16:02.000 --> 0:16:04.520 what assa class returns are going to be. Here's what 0:16:04.680 --> 0:16:08.320 stocks return, Here's what bonds return. And people have to 0:16:08.320 --> 0:16:11.640 stop thinking about tomorrow and start thinking about, hey, what 0:16:11.720 --> 0:16:15.080 about my kids, what about my retirement, what about my grandkids. 0:16:15.720 --> 0:16:18.800 That's a way to defeat the nobody knows anything sort 0:16:18.840 --> 0:16:19.960 of philosophy. 0:16:20.520 --> 0:16:21.400 You know what I've noticed. 0:16:22.120 --> 0:16:25.520 I've noticed here at work that a lot of people 0:16:25.960 --> 0:16:32.320 underestimate the allure of cars when it comes to selling clicks, 0:16:32.320 --> 0:16:34.720 for example, And the same is true in movies, right 0:16:34.800 --> 0:16:38.920 because that's the part of the part of the equation 0:16:39.000 --> 0:16:40.880 that made John Wick such a big teller. He has 0:16:40.920 --> 0:16:43.000 a boss for twenty nine in the first one. I 0:16:43.000 --> 0:16:45.960 think he has a Chevelle SS in the second one. 0:16:46.320 --> 0:16:50.320 And I guess people who don't care about cars really 0:16:50.360 --> 0:16:52.880 don't see the draw, but people who do are going 0:16:52.960 --> 0:16:54.080 to tune in for this kind of thing. 0:16:54.200 --> 0:16:55.880 Yeah, Matt's looking at me, and I'm kind of rolling 0:16:55.920 --> 0:17:00.160 my eyes because I have to say, I don't know cars. 0:16:59.720 --> 0:17:01.240 I have a hybrid. 0:17:01.880 --> 0:17:05.719 But but in the John Wick movie, the mcguindy that 0:17:05.880 --> 0:17:10.560 drives the plot is a bunch of hoodlums see his 0:17:10.960 --> 0:17:14.520 mustang and come to his house to steal it, not 0:17:14.600 --> 0:17:18.480 realizing this is one of the most deadly hit men 0:17:18.200 --> 0:17:22.320 in film lore. And so that's what starts the. 0:17:22.280 --> 0:17:24.080 Whole and they kill his dog, right. 0:17:24.160 --> 0:17:25.800 And that I need you to take this kill his dog, 0:17:25.880 --> 0:17:29.280 which is recently deceased wife had given to him. 0:17:29.440 --> 0:17:31.119 It is just a great plot. 0:17:31.359 --> 0:17:33.560 Barry, thanks so much for joining us. Barrier Holts on 0:17:33.640 --> 0:17:34.720 John Wick in the Markets. 0:17:35.720 --> 0:17:39.560 You're listening to the Team Ken'ser Live program Bloomberg Markets 0:17:39.600 --> 0:17:42.680 weekdays at ten am Eastern on Bloomberg dot Com, the 0:17:42.760 --> 0:17:45.919 iHeartRadio app, and the Bloomberg Business App, or listen on 0:17:45.960 --> 0:17:47.960 demand wherever you get your podcasts. 0:17:49.520 --> 0:17:53.240 I am excited to welcome the mack E. Sales manager 0:17:53.280 --> 0:17:56.359 for the Ford Motor Company, Michael Sago joins us to 0:17:56.440 --> 0:18:00.480 talk about what's going on in this uh in this 0:18:01.200 --> 0:18:04.600 quickly growing industry with really one of I think the 0:18:04.640 --> 0:18:09.200 first standout products in American evs. Michael, thanks so much 0:18:09.200 --> 0:18:12.840 for joining us. What does sales look like now for 0:18:12.880 --> 0:18:15.080 the Machi? I mean I started seeing a lot more 0:18:15.119 --> 0:18:20.520 of them last year and they've become they've become very present, 0:18:20.560 --> 0:18:24.000 at least in this region. How many do you sell 0:18:24.040 --> 0:18:25.440 in twenty twenty two and how many do you want 0:18:25.440 --> 0:18:26.480 to sell in twenty twenty three. 0:18:27.720 --> 0:18:31.080 So we've had great sales in the last couple of months. 0:18:31.080 --> 0:18:34.520 So we actually took a bit of downtime earlier in 0:18:34.520 --> 0:18:38.480 the year to revamp our production facilities to make sure 0:18:38.520 --> 0:18:41.240 that we could meet demand for the Makis. So what's 0:18:41.280 --> 0:18:44.240 great now is a lot of those extra units that 0:18:44.240 --> 0:18:46.560 we've been able to produce are now out there in 0:18:46.600 --> 0:18:50.639 the market and available for purchase and for customers to 0:18:50.640 --> 0:18:51.399 get their hands on. 0:18:52.760 --> 0:18:58.280 We're also hearing about the Mustang Machi Rally as well, 0:18:58.320 --> 0:19:04.440 which the Verge actually called the Ford's off roadius performance 0:19:04.720 --> 0:19:09.280 EVY yet tell us about the tell us all about 0:19:09.280 --> 0:19:10.119 what this is about. 0:19:11.800 --> 0:19:15.720 Love it so really excited to write another chapter in 0:19:15.840 --> 0:19:22.159 Mustang's nearly six decade storied history with a Mustang Machi Rally. So, 0:19:22.880 --> 0:19:26.560 as you know, it's actually a four door suv that's 0:19:26.560 --> 0:19:30.600 all electric, seats five passengers, and we've had that vehicle 0:19:30.600 --> 0:19:32.000 and market for a couple of years. 0:19:32.080 --> 0:19:33.920 And this new variant, the Rally. 0:19:34.080 --> 0:19:37.880 Allows us to go off the pavement and confidently onto 0:19:37.920 --> 0:19:41.560 the dirt road. So this is a rally inspired electric 0:19:41.760 --> 0:19:46.200 suv with really aggressive rally styling all around and lots 0:19:46.200 --> 0:19:50.359 of extra capability built in. We've raised the vehicle twenty 0:19:50.400 --> 0:19:54.159 five millimeters, we have off road tires on it, we 0:19:54.240 --> 0:20:00.640 have extra special tune suspension for off roading. And this 0:20:00.680 --> 0:20:02.159 thing is going to be a beast. It's going to 0:20:02.240 --> 0:20:04.800 have at least six hundred and fifty pound feet of 0:20:04.840 --> 0:20:07.879 torque and do zero to sixty in under three point 0:20:07.920 --> 0:20:08.680 five seconds. 0:20:08.720 --> 0:20:10.960 We're just looking at pictures of it there. 0:20:12.640 --> 0:20:16.200 What I instantly wonder is why isn't it called a raptor, 0:20:16.880 --> 0:20:19.639 you know, because in the at least in the gas 0:20:19.680 --> 0:20:22.760 side of the business, when Ford makes an off road vehicle, 0:20:23.040 --> 0:20:25.240 at least in terms of the F one fifty and 0:20:25.320 --> 0:20:29.240 the Bronco. If it's if it's the pinnacle of the 0:20:29.600 --> 0:20:33.000 off road offering, if it's the Apex Predator, you now 0:20:33.040 --> 0:20:34.400 have the Raptor brand. 0:20:35.680 --> 0:20:36.359 Great question. 0:20:36.480 --> 0:20:39.960 So this is definitely different from a Raptor or a Bronco. 0:20:40.480 --> 0:20:43.439 This is the Machi Rally is not necessarily meant to 0:20:43.480 --> 0:20:46.280 be a rock crawler, but it's meant to perform really 0:20:46.359 --> 0:20:49.080 well at high speed on loose surfaces, similar to what 0:20:49.160 --> 0:20:52.520 a rally vehicle would do. And that's more the driving 0:20:52.560 --> 0:20:56.719 experience that we're a benchmarking rather than that's than some slow, 0:20:57.440 --> 0:21:00.199 precise rock crawling that you would use of bron Go 0:21:00.400 --> 0:21:01.280 or a Raptor to do. 0:21:02.119 --> 0:21:04.199 I mean, I use the Bronco or the Raptor for 0:21:04.240 --> 0:21:06.960 the Baja one thousand. You know, I'm flying across the 0:21:07.000 --> 0:21:09.680 desert in that vehicle. In fact, I was one of 0:21:09.720 --> 0:21:12.440 the first Raptor buyers in my neighborhood. 0:21:12.440 --> 0:21:14.280 Got one back in twenty fourteen. 0:21:14.640 --> 0:21:18.879 In fact, I had my Raptor, was built at the 0:21:18.960 --> 0:21:22.240 rouge and hand delivered. Believe it or not, the keys 0:21:22.280 --> 0:21:25.879 were given to me in the factory by Alan Molally. 0:21:26.760 --> 0:21:30.119 It dates me a little bit, but yeah, I was 0:21:30.119 --> 0:21:32.840 a big, big fan of that vehicle. I still am. 0:21:33.080 --> 0:21:37.200 When are these electric off road vehicle is going to 0:21:37.280 --> 0:21:39.679 be on sale? When can I if I put in 0:21:39.720 --> 0:21:42.000 my order now, or can I put in my order now? 0:21:42.040 --> 0:21:43.600 And when can I pick one up at the dealership? 0:21:44.560 --> 0:21:47.760 So order banks are not quite open yet, but we're 0:21:48.080 --> 0:21:52.480