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Speaker 1: This episode is brought to you by P and C Bank.

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Speaker 1: A lot of people think podcasts about work are boring,

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Speaker 1: and sure they definitely can be, but understanding a professionals

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Speaker 1: It might seem boring to safe plan and make calculated

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Speaker 1: decisions with your bank, but keeping your money boring is

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Speaker 1: what helps you live or more happily fulfilled life. P

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Speaker 1: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly

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Speaker 1: Boring since eighteen sixty five is a service mark of

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Speaker 1: the PNC Financial Service Group, Inc. P and C Bank

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Speaker 1: National Association Member FDIC erness What's Up? You ever walk

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Speaker 1: into a small business and everything just works like the

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Speaker 1: checkout is fast, the receipts are digital, tipping is a breeze,

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Speaker 1: and you're out the door before the line even builds.

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Speaker 1: Odds are they're using Square? We love supporting business that

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Speaker 1: run on Square because it just feels seamless. Whether it's

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Speaker 1: a local coffee shop, a vendor at a pop up market,

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Speaker 1: or even one of.

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Speaker 2: Our merch partners.

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Speaker 1: Square makes it easy for them to take payments, manage inventory,

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Speaker 1: and run their business with confidence, all from one simple system.

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Speaker 1: If you're a business owner or even just thinking about

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Speaker 1: launching something soon, Square is hands down one of the

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Speaker 1: best tools out there to help you start, run, and grow.

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Speaker 1: It's not just about payments, it's about giving you time

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Speaker 1: back so you can focus on what matters most ready.

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Speaker 1: To see how Square can transform your business, visit Square

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Speaker 1: dot com, backslash go backslash eyl to learn more that

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Speaker 1: Square dot com backslash, go backslash eyl. Don't wait, don't hesitate.

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Speaker 1: Let Square handle the back end so you can keep

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Speaker 1: pushing your vision forward. When we evaluate a company, these

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Speaker 1: are the things that we're looking at. Number one, the

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Speaker 1: current price. I mean, that seems pretty obvious, but I'm

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Speaker 1: just gonna say it.

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Speaker 2: You want to know where.

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Speaker 1: The current price is because you want to know where

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Speaker 1: it falls in its range. And its range means it's

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Speaker 1: fifty two week high versus fifty two week low, right,

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Speaker 1: So that range is where it's at for its peak

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Speaker 1: for the year and where it's for it's low for

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Speaker 1: the year. Now, if that current price is near the peak,

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Speaker 1: and this is what we always tell people, but nobody listens.

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Speaker 3: You have to wait, God'll wait. If you buy the High,

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Speaker 3: you will die. I'm sorry, I'm so sorry. Please write

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Speaker 3: it down. If you buy the High, you will die.

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Speaker 3: You are going to be upset and you're gonna text

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Speaker 3: me and Troy. Hey, I need to talk to him. Hey,

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Speaker 3: don't do it. Everyone who bought it at Apple water High,

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Speaker 3: they are shipping their pants right now.

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Speaker 2: I'm like, I told you to wait.

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Speaker 3: Even the greatest companies have pullbacks, which is a sign

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Speaker 3: of the overall economy.

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Speaker 1: Right, So this is important, right, You want to make

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Speaker 1: sure that you're in a range. Like I would say

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Speaker 1: a ten to fifteen percent pulled back from it's high.

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Speaker 1: Some people might go further twenty percent, which was equal

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Speaker 1: of correction. So anytime a company pulls back any between

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Speaker 1: ten to twenty percent, that is considered a correction. So

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Speaker 1: if we look at Apple, which was at one hundred

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Speaker 1: and ninety dollars now going down to one sixty seven.

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Speaker 1: But these are the times when you want to look

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Speaker 1: at so when you start seeing red, and that's why

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Speaker 1: we always tell people never, never, never be fearful. When

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Speaker 1: you see red, this is the time you should be greedy.

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Speaker 1: This is the time, you should be like, all right,

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Speaker 1: I was patient. Now my patient is going to pay off.

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Speaker 1: It's pulled back to a point where I cannot get

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Speaker 1: into the investment and see the benefits on the appreciation

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Speaker 1: all the way up. So the fifty two week and

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Speaker 1: fifty two week high and low are important. Profitability is important.

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Speaker 1: Is the company making money?

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Speaker 3: That's so key. I know it seems like a basic thing.

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Speaker 3: But some companies people ask about they are negative. So

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Speaker 3: if the company is not making money, how do you

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Speaker 3: think that the company is going to grow. It may

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Speaker 3: grow off speculation and may grow if it was an aspect,

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Speaker 3: but a lot of those companies end up dying.

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Speaker 2: So please like, make sure that the company at least

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Speaker 2: is in profit.

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Speaker 1: Ability is important, right, profit margin and this is something

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Speaker 1: and we'll do two together. Right, We'll do profit margin

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Speaker 1: operating margin, because I know when I'm listening sometimes and

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Speaker 1: I'm like, we'll use Disney for example, like we did

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Speaker 1: the other day, and we're like, wait, what's the profit margin?

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Speaker 1: The profit margin means what?

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Speaker 3: How for every one hundred dollars, Well, how much are

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Speaker 3: they're keeping? So for Apple to be a multi trillion

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Speaker 3: dollar company, they keep twenty five dollars out of every

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Speaker 3: one hundred that comes in phenomenal business model, especially at scale.

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Speaker 3: So if they're keeping between fifteen percent to thirty percent,

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Speaker 3: I'm in love with it. If it's single digit profit margin,

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Speaker 3: it's a business I don't want to invest in. And

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Speaker 3: I think it's one of the purest ways you can

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Speaker 3: evaluate a company to see if it's worth investing in. Like,

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Speaker 3: I want to pick on Disney again, but if you

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Speaker 3: do look, Disney profit margin is two point sixty five percent.

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Speaker 3: So if I had a business that for every one

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Speaker 3: hundred dollars I came and I kept two bucks, what

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Speaker 3: you want to invest in me? I don't care about

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Speaker 3: the I ain't King three that they got in the vault,

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Speaker 3: Simba died. Sorry, Until you get that pret well in theory,

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Speaker 3: until that profit margin is higher, I'm scar.

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Speaker 2: I hate all of Disney right now. Now.

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Speaker 3: I wanted to win for Troy as an investor, I'm like,

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Speaker 3: I can't.

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Speaker 2: There's no way on.

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Speaker 3: Earth I can touch that investment right now. So profit

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Speaker 3: margin matters a hell of a lot.

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Speaker 1: It's a it's a huge indicator, and it's the reason

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Speaker 1: why we love in videos so much. When we talk

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Speaker 1: about profit margins Like we brought up Apple and when

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Speaker 1: you hear twenty five percent thirty six percent, I think

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Speaker 1: for Microsoft, when you're hearing videos at forty eight percent,

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Speaker 1: nearly fifty percent profit margins every hundred dollars, they're keeping

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Speaker 1: fifty of it.

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Speaker 3: Yes, And if they pick up one hundred and twenty

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Speaker 3: million from UH from Meta for the metaglasses, like not

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Speaker 3: knowing billion, they're keeping forty eight percent of that. Like

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Speaker 3: you see why Jenson's so happy on stage. Jenson looked

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Speaker 3: like a rock star at that last conference. I would

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Speaker 3: too if for every billion came in I was.

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Speaker 2: Keeping for Yes.

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Speaker 1: I think Zuckerberg said they're buying three hundred was it

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Speaker 1: three hundred thousand, three hundred thousand GPUs from the video

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Speaker 1: at an average price, let's say the price, and they

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Speaker 1: said that the prices could range from twenty thousand to

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Speaker 1: forty thousand per chip. You're talking about a six to

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Speaker 1: ten billion dollar transaction. If they're keeping a fifty percent

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Speaker 1: profit margin on that transaction, keeping.

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Speaker 2: Three billion off of one company from.

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Speaker 1: One company, they've they've they've made three to five billion.

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Speaker 2: Come on, man, which is like unstoppable, I.

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Speaker 1: Mean pretty, that's pretty remarkable operating margin.

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Speaker 2: Yeah, operate margin. Just think of it as like gross

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Speaker 2: and how much we'll a room they have.

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Speaker 3: So if you go to Nvidia, they have fifty four

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Speaker 3: percent operate margin, which is amazing. So I'm looking at

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Speaker 3: the differential between how much operating margin and how much

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Speaker 3: margin they're keeping inside of the profit margin, and it's

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Speaker 3: really a good range. All that really means is like,

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Speaker 3: for they're managing the money that comes in incredibly well.

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Speaker 3: Like if they had let's say fifty five percent operate

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Speaker 3: margin fifteen percent profit margin, I would be like, what are.

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Speaker 2: You doing with the money?

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Speaker 3: You're doing some music industry accounting with the money that's

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Speaker 3: coming in, right, But they're doing a great job. For

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Speaker 3: most of the money that is coming in for operating expenses,

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Speaker 3: they are converting that into profit, which I absolutely love.

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Speaker 1: Perfect revenue sounds self explanatory, but this is the money

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Speaker 1: that is being brought into the company, right, So when

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Speaker 1: we talk about revenue, that's important, But the next line

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Speaker 1: is equally is important.

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Speaker 2: Right.

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Speaker 1: You could be bringing in money, but what is the debt?

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Speaker 2: Right, So when we.

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Speaker 1: Talk about revenue, we talk about debt. What we're really

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Speaker 1: encumbassing is the balance sheet. So you might hear people

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Speaker 1: talk about what's the balance sheet, what's the balance sheet,

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Speaker 1: what are they bringing in? How much is it costing

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Speaker 1: them to bring that in, and what is the overall

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Speaker 1: debt that s left over after that that revenue is

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Speaker 1: brought in. So those when we talk about balance sheets,

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Speaker 1: that's the encumbass in the last one I think is

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Speaker 1: I mean when we talk about importance when we're looking

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Speaker 1: at a company. Now we're telling you these things, but

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Speaker 1: in a set we're going to show you exactly how

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Speaker 1: to find these things, so that when you try to

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Speaker 1: evaluate the company, you can know exactly where they are

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Speaker 1: and then you could say, all right, this is a

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Speaker 1: good investment. This may not be a good investment, like

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Speaker 1: you might hear all the news in the world, right,

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Speaker 1: Like Uber would be like two years ago, if we

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Speaker 1: put Uber to this test, yeah, we would look at

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Speaker 1: it and say, I'm not sure if this is a

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Speaker 1: sound investment right now.

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Speaker 2: Yeah, it would have been a failed two years ago.

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Speaker 1: It would have been a fail right because they weren't

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Speaker 1: even profitable. That has changed over the past couple of years.

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Speaker 1: But operating cash flow in encompassed.

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Speaker 2: That for us, well, I took the last two. I'll

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Speaker 2: let you take this.

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Speaker 1: Yeah, I always talk about operating clash flow. It's like

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Speaker 1: one of my favorite things to talk about. It's the

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Speaker 1: last line budget on on the statistics for financial the

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Speaker 1: fundamentals for a company, because it talks about how much

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Speaker 1: money they have left over? Right when they have their assets, Yep,

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Speaker 1: their liability is are weighed? What is left over?

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Speaker 2: What's left over?

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Speaker 1: A thing we've heard before, right, Yeah, I ass of

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Speaker 1: a liabilities great slogan. Right, that's what's left over? And

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Speaker 1: why is that important? Because when companies have operating cash

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Speaker 1: flow or we could say free cash flow, that means

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Speaker 1: that they have money for innovation. That means they have

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Speaker 1: money for maybe the best hiring. That means they have

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Speaker 1: money for murders and acquisitions.

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Speaker 2: Acquisitions are key. Yeah. Look, we talked about it on Monday.

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Speaker 3: Without Instagram, Facebook will probably be dead in the water.

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Speaker 2: I mean, I put the clip.

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Speaker 3: Microsoft made a big Bomber made a bid for twenty billion,

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Speaker 3: got it turned down. Great move by Zuckerberg, and Zuckerberg

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Speaker 3: then goes and buys Instagram. And at the time you

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Speaker 3: can argue Zuckerberg was a better CEO than Bomber, But

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Speaker 3: they had to operate in cash flow to be able

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Speaker 3: to make that acquisition for a billion, which has been

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Speaker 3: like one hundred and fifty extra turn for pH risiculous.

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Speaker 2: And shout off to black Belt that.

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Speaker 1: When you guys are talking about the biggest or the

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Speaker 1: greatest investments of all time, you spoke about Meta acquiring Instagram,

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Speaker 1: but you talked about Google acquiring YouTube for one point

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Speaker 1: six billion of all time.

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Speaker 2: Yeah, I mean think about that.

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Speaker 1: That was twenty years ago. What has that returned then?

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Speaker 2: Right?

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Speaker 1: We talked about YouTube by itself is a multi billion

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Speaker 1: dollar company.

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Speaker 3: Mustily and if they were in public, YouTube were probably

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Speaker 3: number one in that communications list.

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Speaker 2: Definitely on the ATV. Absolutely.

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Speaker 1: Yeah, It's bigger than any communications network you can think of.

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Speaker 1: It's far to pass for Rizon or any other service

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Speaker 1: Charter Disney for sure. YouTube is that Netflix.

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Speaker 2: I would say YouTube is TV for this generation.

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Speaker 1: It is.

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Speaker 3: It is like if I said to you twenty years ago,

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Speaker 3: Google is going to go buy all the TV networks

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Speaker 3: in America, You're like, there's no way, And then they

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Speaker 3: got YouTube.

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Speaker 4: An illegal alien from Guatemala charged with raping a child

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Speaker 4: in Massachusetts. An MS thirteen gang member from El Salvador

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Speaker 4: accused of murdering a Texas man of Venezuelan charged with

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Speaker 4: filming and selling child pornography in Michigan. These are just

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Speaker 4: some of the heinous migrant criminals caught because of President

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Speaker 4: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 4: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 4: crossings are at the lowest levels ever recorded, and over

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Speaker 4: one hundred thousand illegal aliens have been arrested. If you

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Speaker 4: are here illegally, your next you will be fine nearly

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Speaker 4: one thousand dollars a day, imprisoned and deported. You will

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Speaker 4: never return. But if you register using our CBP home

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Speaker 4: app and leave now, you could be allowed to return legally.

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Speaker 4: Do what's right. Leave now. Under President Trump, America's laws,

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Speaker 4: border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland Security.