1 00:00:01,360 --> 00:00:03,640 Speaker 1: This episode is brought to you by P and C Bank. 2 00:00:04,000 --> 00:00:06,760 Speaker 1: A lot of people think podcasts about work are boring, 3 00:00:07,000 --> 00:00:10,840 Speaker 1: and sure they definitely can be, but understanding a professionals 4 00:00:10,920 --> 00:00:14,160 Speaker 1: routine shows us how they achieve their success little by little, 5 00:00:14,560 --> 00:00:18,200 Speaker 1: day after day. It's like banking with P and C Bank. 6 00:00:18,680 --> 00:00:21,480 Speaker 1: It might seem boring to safe plan and make calculated 7 00:00:21,480 --> 00:00:24,599 Speaker 1: decisions with your bank, but keeping your money boring is 8 00:00:24,640 --> 00:00:27,960 Speaker 1: what helps you live or more happily fulfilled life. P 9 00:00:28,080 --> 00:00:32,879 Speaker 1: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly 10 00:00:32,960 --> 00:00:35,600 Speaker 1: Boring since eighteen sixty five is a service mark of 11 00:00:35,600 --> 00:00:38,840 Speaker 1: the PNC Financial Service Group, Inc. P and C Bank 12 00:00:39,280 --> 00:00:45,920 Speaker 1: National Association Member FDIC erness What's Up? You ever walk 13 00:00:45,920 --> 00:00:49,000 Speaker 1: into a small business and everything just works like the 14 00:00:49,080 --> 00:00:53,200 Speaker 1: checkout is fast, the receipts are digital, tipping is a breeze, 15 00:00:53,479 --> 00:00:55,640 Speaker 1: and you're out the door before the line even builds. 16 00:00:55,960 --> 00:01:00,240 Speaker 1: Odds are they're using Square? We love supporting business that 17 00:01:00,320 --> 00:01:02,959 Speaker 1: run on Square because it just feels seamless. 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Don't wait, don't hesitate. 30 00:01:45,760 --> 00:01:48,160 Speaker 1: Let's Square handle the back end so you can keep 31 00:01:48,160 --> 00:01:49,400 Speaker 1: pushing your vision forward. 32 00:01:51,560 --> 00:01:55,200 Speaker 2: All right, let's let's get to it. So we're gonna 33 00:01:55,200 --> 00:01:59,840 Speaker 2: talk about let's talk about in video and video committed 34 00:02:00,440 --> 00:02:02,240 Speaker 2: five hundred. Well before we talk about in the video, 35 00:02:02,320 --> 00:02:07,960 Speaker 2: let's talk about the Trump tariffs again. So over the 36 00:02:08,000 --> 00:02:11,280 Speaker 2: weekend they said that there was a given exemption for 37 00:02:11,520 --> 00:02:16,440 Speaker 2: smartphones and computer chips, and that was very welcomed by 38 00:02:16,480 --> 00:02:25,480 Speaker 2: the technology sector. It said ninety days and then yesterdays 39 00:02:26,040 --> 00:02:29,919 Speaker 2: they came out and said that it'll be a special 40 00:02:30,040 --> 00:02:35,799 Speaker 2: tariff for semiconductors, that this is only temporary. Pretty much 41 00:02:35,919 --> 00:02:43,800 Speaker 2: dampered the whole party. So the market as a result, 42 00:02:43,880 --> 00:02:47,919 Speaker 2: it wasn't as bullish today as people thought it might 43 00:02:47,960 --> 00:02:53,240 Speaker 2: have been if they didn't make that announcement. So okay 44 00:02:54,520 --> 00:02:57,600 Speaker 2: for the investors, that's wondering, how come they didn't wait 45 00:02:57,639 --> 00:02:59,480 Speaker 2: to make this announcement. How come maydn't make the first 46 00:02:59,520 --> 00:03:02,400 Speaker 2: announcement on Monday and at least give people an opportunity 47 00:03:02,400 --> 00:03:04,760 Speaker 2: to exit some positions and then maybe rain on the 48 00:03:04,760 --> 00:03:05,639 Speaker 2: parade on Wednesday. 49 00:03:07,560 --> 00:03:12,720 Speaker 3: I mean, he's given all of his friends allegedly and 50 00:03:12,880 --> 00:03:15,880 Speaker 3: what to buy. Shout out to all the congress people 51 00:03:15,919 --> 00:03:20,160 Speaker 3: and politicians who bought calls on Apple and in video 52 00:03:20,200 --> 00:03:24,000 Speaker 3: as a result, better course for you since you go 53 00:03:24,080 --> 00:03:26,600 Speaker 3: rough of office in the next one. Well how do 54 00:03:26,680 --> 00:03:32,560 Speaker 3: you think he keeps changing course so quickly? Like I 55 00:03:33,000 --> 00:03:36,920 Speaker 3: have to go to chat GBT clause oupen on manness, 56 00:03:36,960 --> 00:03:41,560 Speaker 3: Like what's the reason behind all of this chaos? And 57 00:03:41,560 --> 00:03:44,560 Speaker 3: I'm not proberly on Trump's episode, but I don't understand 58 00:03:44,560 --> 00:03:46,600 Speaker 3: why you put out positive news and then the next 59 00:03:46,640 --> 00:03:47,600 Speaker 3: day damper it. 60 00:03:49,000 --> 00:03:51,400 Speaker 2: Yeah, I'm not sure. I don't think anybody really knows. 61 00:03:51,520 --> 00:03:57,720 Speaker 2: I think it's a very erratic behavior and it's frustrating 62 00:03:57,800 --> 00:04:02,680 Speaker 2: to like market insiders and hedge fund managers and stuff 63 00:04:02,720 --> 00:04:06,040 Speaker 2: like that, because it's like, you know, Dan ives extremely 64 00:04:06,040 --> 00:04:08,480 Speaker 2: happy when they had that announcement that he said, it's 65 00:04:08,480 --> 00:04:12,680 Speaker 2: like playing golf and they moving the tea in the 66 00:04:12,800 --> 00:04:16,800 Speaker 2: ninth and the ninth or the eighteenth green. So it's 67 00:04:16,880 --> 00:04:20,320 Speaker 2: just it's it's very complicated and it's difficult because it's like, 68 00:04:20,360 --> 00:04:23,120 Speaker 2: you know, we don't know. But we spoke to an 69 00:04:23,120 --> 00:04:27,360 Speaker 2: executive at a car company during the All Star week 70 00:04:27,400 --> 00:04:29,800 Speaker 2: and this is before the tariffs thing came out, and 71 00:04:29,800 --> 00:04:32,000 Speaker 2: he said that it's extremely difficult to do business because 72 00:04:32,040 --> 00:04:35,560 Speaker 2: we don't we don't know the rules. So you can, 73 00:04:35,720 --> 00:04:37,480 Speaker 2: you can once you know the rules and you can 74 00:04:37,480 --> 00:04:40,680 Speaker 2: play the game, but when the rules keep changing, that 75 00:04:40,760 --> 00:04:44,760 Speaker 2: becomes extremely difficult to play the game. So you know, 76 00:04:44,800 --> 00:04:47,800 Speaker 2: when you say that there's a pauseon tariffs for electronics, 77 00:04:47,960 --> 00:04:52,360 Speaker 2: smartphones and chips, and that's that's encouraging news for technology, 78 00:04:53,279 --> 00:04:54,880 Speaker 2: but then when you come out two days later and 79 00:04:54,920 --> 00:04:57,960 Speaker 2: say that there's going to be a special tariff just 80 00:04:58,000 --> 00:05:01,160 Speaker 2: for chips, when that's discouraging news. So within a forty 81 00:05:01,160 --> 00:05:05,039 Speaker 2: eight hours cycle, it is going in so many different directions, 82 00:05:05,080 --> 00:05:08,080 Speaker 2: and it's it's up down. That's why it's a very choppy, 83 00:05:08,880 --> 00:05:11,000 Speaker 2: very very choppy market right now. That's why a lot 84 00:05:11,000 --> 00:05:13,760 Speaker 2: of people just wait on the sidelines because they don't 85 00:05:13,920 --> 00:05:17,279 Speaker 2: know exactly what to expect. And we all know that 86 00:05:17,279 --> 00:05:18,800 Speaker 2: the stock markets is going to recover over the course 87 00:05:18,839 --> 00:05:21,360 Speaker 2: of time, but I mean, if we do go into 88 00:05:21,360 --> 00:05:23,680 Speaker 2: a recession and you could see another twenty percent depth 89 00:05:23,720 --> 00:05:28,919 Speaker 2: in the market, So it's it's very erratic behavior. I 90 00:05:28,920 --> 00:05:32,839 Speaker 2: think that he's trying to figure it out on the fly, 91 00:05:33,320 --> 00:05:35,799 Speaker 2: because especially we haven't talked about the ten year treasury, 92 00:05:35,839 --> 00:05:39,120 Speaker 2: but that's something that was extremely alarming to them, that's 93 00:05:39,120 --> 00:05:40,680 Speaker 2: what they said, Like that actually made them change his 94 00:05:40,680 --> 00:05:42,920 Speaker 2: mind more than anything, not really the stock market, but 95 00:05:43,000 --> 00:05:47,239 Speaker 2: the treasury. And when people stop believing in America and stop, 96 00:05:47,400 --> 00:05:54,840 Speaker 2: you know, holding American bonds Japan, that's concerning. That's concerning 97 00:05:54,880 --> 00:05:56,720 Speaker 2: for sure. So I think he's trying to balance so much. 98 00:05:56,760 --> 00:05:58,760 Speaker 2: You see the dollar drop to his lowest level since 99 00:05:58,800 --> 00:06:02,280 Speaker 2: twenty twenty two, at the people dumping treasury bonds, to 100 00:06:02,279 --> 00:06:06,599 Speaker 2: stock markets crashing, then you got world leaders calling you, 101 00:06:06,600 --> 00:06:09,719 Speaker 2: I'm sure, left and right. So imagine just being in 102 00:06:09,760 --> 00:06:13,000 Speaker 2: a room with ten thousand things happening simultaneously, and it's 103 00:06:13,000 --> 00:06:15,120 Speaker 2: just like Okay, damn, I gotta do this. Okay, let's 104 00:06:15,160 --> 00:06:17,280 Speaker 2: reverse course, Okay, let's do this, let's do this, let's 105 00:06:17,279 --> 00:06:19,080 Speaker 2: do that. And it's not like something that I think 106 00:06:19,160 --> 00:06:21,760 Speaker 2: this is already thought out. I think it's in game. I 107 00:06:21,760 --> 00:06:24,800 Speaker 2: think he's doing the Peyton manning like omaha, he's calling 108 00:06:24,839 --> 00:06:26,200 Speaker 2: audibles on the fly. Yeah. 109 00:06:26,440 --> 00:06:29,679 Speaker 1: I think this is the epitome of building a plane 110 00:06:29,680 --> 00:06:33,320 Speaker 1: while flying it right, Like we are, we're not sure 111 00:06:33,520 --> 00:06:36,040 Speaker 1: what we're doing, but we're gonna try to piece this 112 00:06:36,120 --> 00:06:38,320 Speaker 1: together as we go. We're gonna make an announcement and 113 00:06:38,360 --> 00:06:39,919 Speaker 1: then we'll try to figure it out as do we 114 00:06:39,960 --> 00:06:43,520 Speaker 1: do it. It's like like last week when it was well, 115 00:06:43,640 --> 00:06:45,520 Speaker 1: the third of April one and with the tariffs were 116 00:06:45,560 --> 00:06:48,520 Speaker 1: going to effect, and then we saw how the market 117 00:06:48,560 --> 00:06:50,760 Speaker 1: reacted to it. And then there was a leak that 118 00:06:50,960 --> 00:06:53,920 Speaker 1: the tariffs were suspended last Monday, and oh it was 119 00:06:53,960 --> 00:06:56,280 Speaker 1: a leak that that's not true, and then by Wednesday 120 00:06:56,440 --> 00:07:00,000 Speaker 1: it actually was true, right, and then Saturday it's hey, 121 00:07:00,040 --> 00:07:06,880 Speaker 1: we're gonna suspend tarraffs on semiconductors, computers, and technology pretty much. 122 00:07:06,880 --> 00:07:09,000 Speaker 1: Technology stocks were hopeful like this is great, and then 123 00:07:09,040 --> 00:07:12,960 Speaker 1: by Sunday that changes, and who knows what happens tomorrow, Right, 124 00:07:13,080 --> 00:07:16,400 Speaker 1: we really don't have a clue of what's happening. From 125 00:07:16,440 --> 00:07:19,160 Speaker 1: a business standpoint, it's tough because number one, you don't 126 00:07:19,160 --> 00:07:21,040 Speaker 1: know how much you're gonna pay, and then you don't 127 00:07:21,080 --> 00:07:22,960 Speaker 1: know how much you're gonna make, and so you don't 128 00:07:22,960 --> 00:07:25,720 Speaker 1: really know what to tell your shareholders, and you don't 129 00:07:25,720 --> 00:07:28,760 Speaker 1: know what your revenue is gonna be, right, and so 130 00:07:29,560 --> 00:07:31,600 Speaker 1: the thing that doesn't change for you is the debt 131 00:07:32,800 --> 00:07:35,320 Speaker 1: for sure, Right, that's the thing that you know for 132 00:07:35,400 --> 00:07:39,040 Speaker 1: sure it's going to happen. Right if you're having cap 133 00:07:39,040 --> 00:07:43,880 Speaker 1: expendatures and there's debt that's accumulating that's not going anywhere. 134 00:07:43,880 --> 00:07:45,600 Speaker 1: How much you're bringing in, how much you're gonna pay 135 00:07:45,640 --> 00:07:50,000 Speaker 1: for that, that is uncertain. So, I mean, the uncertainty 136 00:07:50,120 --> 00:07:55,400 Speaker 1: in itself is is extreme. The recession piece. It almost 137 00:07:55,480 --> 00:07:59,600 Speaker 1: feels like we were headed for a soft landing. I know, 138 00:07:59,640 --> 00:08:01,200 Speaker 1: but it was like never going to be a self 139 00:08:01,280 --> 00:08:02,600 Speaker 1: lending but we will had it there, we will head 140 00:08:02,640 --> 00:08:05,040 Speaker 1: it there, and now we got the self inflicted won't 141 00:08:05,240 --> 00:08:07,680 Speaker 1: And now it almost feels like recession might be the 142 00:08:07,720 --> 00:08:11,320 Speaker 1: safest thing if you hear what Ray Dalio's saying, this 143 00:08:11,680 --> 00:08:15,000 Speaker 1: the two negative quarters. By definition, that might be the 144 00:08:15,000 --> 00:08:19,120 Speaker 1: safest play because we've seen that before, and we've seen 145 00:08:19,160 --> 00:08:21,320 Speaker 1: how we've recovered from that before. It could be shortened, 146 00:08:21,480 --> 00:08:24,880 Speaker 1: maybe it's extended, but we've seen that before. He's saying 147 00:08:24,920 --> 00:08:27,560 Speaker 1: that potentially there's something worse ahead, which is a new 148 00:08:28,040 --> 00:08:30,360 Speaker 1: economic world order, which is kind of what we've been 149 00:08:30,360 --> 00:08:33,679 Speaker 1: alluding to in the smallest sense, where it's like the 150 00:08:34,800 --> 00:08:39,720 Speaker 1: rising power challenging the emerging power or the existing power. 151 00:08:40,480 --> 00:08:43,040 Speaker 1: We kind of know who plays in those roles versus 152 00:08:43,600 --> 00:08:48,480 Speaker 1: the value of money, versus internal conflict versus international conflict, 153 00:08:48,559 --> 00:08:53,760 Speaker 1: all happening at the same time, which is dangerous incredibly. 154 00:08:54,200 --> 00:08:57,800 Speaker 3: And for my traitors. How Trump is changing his playing 155 00:08:57,880 --> 00:08:59,800 Speaker 3: day to day. That's how a lot of you are 156 00:08:59,840 --> 00:09:04,160 Speaker 3: trading right now. Please know what your targets are going 157 00:09:04,240 --> 00:09:08,160 Speaker 3: in to this market, regardless of what he does. I've 158 00:09:08,200 --> 00:09:10,719 Speaker 3: always stressed you need one short target to be able 159 00:09:10,720 --> 00:09:13,560 Speaker 3: to get cash flow, one long target to help change 160 00:09:13,559 --> 00:09:18,240 Speaker 3: your life. Second thing, I do want to stress, despite 161 00:09:18,440 --> 00:09:23,280 Speaker 3: how much volatility we have in a market, given because 162 00:09:23,320 --> 00:09:25,760 Speaker 3: of leadership, it's going to be one of the greatest 163 00:09:25,840 --> 00:09:29,120 Speaker 3: bound opportunities of this decade. I do not want you 164 00:09:29,200 --> 00:09:32,120 Speaker 3: to forget that point. It felt like this in twenty fifteen. 165 00:09:32,240 --> 00:09:35,400 Speaker 3: It felt like this doing Brexit, it felt like the 166 00:09:35,440 --> 00:09:37,800 Speaker 3: pain was never going to stop. But even in a 167 00:09:37,840 --> 00:09:41,160 Speaker 3: recession on average the last seventeen to nineteen months, for 168 00:09:41,240 --> 00:09:42,760 Speaker 3: those of you who are locked in, if you can 169 00:09:42,800 --> 00:09:45,840 Speaker 3: buy and hold long term in three or four years, 170 00:09:45,920 --> 00:09:48,120 Speaker 3: you are going to be lady. And we'll talk about 171 00:09:48,120 --> 00:09:51,120 Speaker 3: it later. There are some companies that are dominating Netflix 172 00:09:51,160 --> 00:09:54,440 Speaker 3: one of them. Netflix has moved up my respect level 173 00:09:54,480 --> 00:09:59,960 Speaker 3: a lot. Visa is what most financial services companies should be. 174 00:10:00,320 --> 00:10:04,280 Speaker 3: There's still quality out here despite the BS that's going 175 00:10:04,280 --> 00:10:05,600 Speaker 3: on with his decision making. 176 00:10:05,800 --> 00:10:08,679 Speaker 1: So yeah, quality, I mean, business is still happening, especially 177 00:10:08,679 --> 00:10:10,720 Speaker 1: when we kind of led with it. But you see 178 00:10:10,760 --> 00:10:15,160 Speaker 1: the amount of money that's being allocated toward AI development 179 00:10:15,240 --> 00:10:17,280 Speaker 1: even in the midst of all this. Right, It's the 180 00:10:17,320 --> 00:10:19,960 Speaker 1: reason why they all met with him and they continue 181 00:10:20,320 --> 00:10:23,160 Speaker 1: to meet with him. Is Yes, part of it is 182 00:10:24,280 --> 00:10:27,000 Speaker 1: his thought is we've been unfairly treated when it comes 183 00:10:27,040 --> 00:10:29,320 Speaker 1: to tariffs. But the other part of it is on 184 00:10:29,440 --> 00:10:33,040 Speaker 1: shore manufacturing and based on a lot of what the 185 00:10:33,240 --> 00:10:36,120 Speaker 1: especially the Max seven. They're making a commitment to make 186 00:10:36,120 --> 00:10:40,600 Speaker 1: sure that at least some of the manufacturing is on shore. 187 00:10:41,800 --> 00:10:42,640 Speaker 3: Is it too late. 188 00:10:43,960 --> 00:10:48,680 Speaker 1: For a company like Apple, That's gonna be tough for 189 00:10:48,920 --> 00:10:55,120 Speaker 1: a company like in Nvidia not as not too late, 190 00:10:56,600 --> 00:10:59,400 Speaker 1: because they've already if you look at the manufacturing, I 191 00:10:59,440 --> 00:11:01,480 Speaker 1: know that, and you kind of alluded to it to 192 00:11:01,520 --> 00:11:04,079 Speaker 1: start to show. But that five hundred billion over the 193 00:11:04,120 --> 00:11:06,440 Speaker 1: course of four years, obviously that makes it one hundred 194 00:11:06,480 --> 00:11:11,200 Speaker 1: and twenty five billion UM per year toward data set 195 00:11:11,240 --> 00:11:15,360 Speaker 1: of development. That manufacturer is going to start producing its 196 00:11:15,760 --> 00:11:20,640 Speaker 1: newer products. So Hopper is still being produced in Taiwan 197 00:11:21,240 --> 00:11:24,320 Speaker 1: and maybe some of Blackwell, But at this point going forward, 198 00:11:24,480 --> 00:11:27,000 Speaker 1: and we've seen the road out till twenty twenty seven 199 00:11:28,120 --> 00:11:31,679 Speaker 1: Blackwell Rubin, and I forget that the name of the 200 00:11:31,720 --> 00:11:34,360 Speaker 1: twenty twenty seven product, those will majority of those will 201 00:11:34,360 --> 00:11:37,960 Speaker 1: probably be manufactured here. Based on this announcement that they 202 00:11:37,960 --> 00:11:38,920 Speaker 1: had today, an. 203 00:11:38,840 --> 00:11:43,480 Speaker 4: Illegal alien from Guatemala charged with raping a child in Massachusetts. 204 00:11:43,679 --> 00:11:47,080 Speaker 4: An MS thirteen gang member from Al Salvador accused of 205 00:11:47,200 --> 00:11:51,200 Speaker 4: murdering a Texas. Man of Venezuelan charged with filming and 206 00:11:51,280 --> 00:11:55,120 Speaker 4: selling child pornography in Michigan. These are just some of 207 00:11:55,160 --> 00:11:58,839 Speaker 4: the heinous migrant criminals caught because of President Donald J. 208 00:11:58,920 --> 00:12:02,720 Speaker 4: Trump's leadership. I'm Christy nom the United States Secretary of 209 00:12:02,760 --> 00:12:07,559 Speaker 4: Homeland Security. Under President Trump, attempted illegal border crossings are 210 00:12:07,600 --> 00:12:10,959 Speaker 4: at the lowest levels ever recorded, and over one hundred 211 00:12:11,000 --> 00:12:14,920 Speaker 4: thousand illegal aliens have been arrested. If you are here illegally, 212 00:12:15,400 --> 00:12:18,679 Speaker 4: your next you will be fine nearly one thousand dollars 213 00:12:18,760 --> 00:12:22,880 Speaker 4: a day, imprisoned, and deported, you will never return. But 214 00:12:22,960 --> 00:12:26,520 Speaker 4: if you register using our CBP home app and leave now, 215 00:12:26,880 --> 00:12:29,960 Speaker 4: you could be allowed to return legally. Do what's right. 216 00:12:30,559 --> 00:12:35,520 Speaker 4: Leave now. Under President Trump, America's laws, border and families 217 00:12:35,679 --> 00:12:36,480 Speaker 4: will be protected. 218 00:12:36,600 --> 00:12:38,760 Speaker 1: Sponsored by the United States Department of Homeland Security.