1 00:00:00,040 --> 00:00:03,600 Speaker 1: An illegal alien from Guatemala charged with raping a child 2 00:00:03,680 --> 00:00:07,480 Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador 3 00:00:07,720 --> 00:00:11,840 Speaker 1: accused of murdering a Texas man of Venezuelan charged with 4 00:00:11,920 --> 00:00:15,840 Speaker 1: filming and selling child pornography in Michigan. These are just 5 00:00:15,920 --> 00:00:19,680 Speaker 1: some of the heinous migrant criminals caught because of President 6 00:00:19,720 --> 00:00:23,320 Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States 7 00:00:23,320 --> 00:00:28,120 Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border 8 00:00:28,160 --> 00:00:31,680 Speaker 1: crossings are at the lowest levels ever recorded, and over 9 00:00:31,760 --> 00:00:34,960 Speaker 1: one hundred thousand illegal aliens have been arrested. If you 10 00:00:35,040 --> 00:00:38,920 Speaker 1: are here illegally, your next you will be fined nearly 11 00:00:39,000 --> 00:00:43,000 Speaker 1: one thousand dollars a day, imprisoned, and deported. You will 12 00:00:43,040 --> 00:00:46,680 Speaker 1: never return. But if you register using our CBP home 13 00:00:46,720 --> 00:00:50,120 Speaker 1: app and leave now, you could be allowed to return legally. 14 00:00:50,479 --> 00:00:55,240 Speaker 1: Do what's right. Leave now. Under President Trump, America's laws, 15 00:00:55,400 --> 00:00:57,840 Speaker 1: border and families will be protected. 16 00:00:57,920 --> 00:01:00,000 Speaker 2: Sponsored by the United States Department of Homeland Security. 17 00:01:00,160 --> 00:01:04,680 Speaker 3: What are five biggest lessons to learn from Berkshire Halfway's 18 00:01:05,200 --> 00:01:06,360 Speaker 3: meeting this weekend? 19 00:01:06,640 --> 00:01:09,319 Speaker 4: For me after I checked it out. Number One, investment 20 00:01:09,400 --> 00:01:12,319 Speaker 4: is really easy. It's interesting to see that no matter 21 00:01:12,360 --> 00:01:15,520 Speaker 4: how much the world has changed, their philosophy has not. 22 00:01:15,640 --> 00:01:17,440 Speaker 4: So it brought me back to the point of like 23 00:01:17,480 --> 00:01:20,679 Speaker 4: sticking with the plan for a ten fifty year period, 24 00:01:20,680 --> 00:01:22,640 Speaker 4: even at some point someone asks them, like, what's their 25 00:01:22,640 --> 00:01:26,080 Speaker 4: one hundred year vision for Berkshire from today? Number Two, 26 00:01:26,120 --> 00:01:27,880 Speaker 4: cash is not tried to have one hundred and twenty 27 00:01:27,880 --> 00:01:31,959 Speaker 4: billion dollars in treasury bills in cash. So for everyone like, 28 00:01:32,000 --> 00:01:34,440 Speaker 4: your debt is good, I'm like, now the interest races 29 00:01:34,520 --> 00:01:36,520 Speaker 4: went up, not the best thing. It's better to have 30 00:01:36,560 --> 00:01:38,720 Speaker 4: a bunch of cash on hand in case if they 31 00:01:38,720 --> 00:01:40,800 Speaker 4: need to deploy, Like, this is amazing that if they 32 00:01:40,840 --> 00:01:44,119 Speaker 4: wanted to, they can buy seventy percent of Tesla or 33 00:01:44,840 --> 00:01:47,720 Speaker 4: consider proportion into AMD or any of these companies. Just 34 00:01:47,720 --> 00:01:51,120 Speaker 4: having this cash shitting around. Number three, the position in 35 00:01:51,200 --> 00:01:54,000 Speaker 4: Apple cannot be understated. 36 00:01:54,720 --> 00:01:55,560 Speaker 5: I'll say it again. 37 00:01:55,640 --> 00:01:58,760 Speaker 4: Apple is probably the greatest publicly traded company of all time. 38 00:01:58,800 --> 00:02:02,000 Speaker 4: They get one hundred million dollars a quarter and dividends. 39 00:02:02,960 --> 00:02:04,360 Speaker 4: And the funny part he was like, I don't even 40 00:02:04,400 --> 00:02:06,200 Speaker 4: know how the smartphone works, but I do know the 41 00:02:06,240 --> 00:02:09,560 Speaker 4: consumer when Apple knows how to sell phones incredibly well. 42 00:02:09,919 --> 00:02:12,160 Speaker 4: So it brings me back to my point of investing 43 00:02:12,200 --> 00:02:14,160 Speaker 4: in this top company in the world, the Buffets said 44 00:02:14,360 --> 00:02:16,399 Speaker 4: to me, and this is the greatest company we own 45 00:02:17,080 --> 00:02:20,600 Speaker 4: today by far. If he would have listened to Charlie 46 00:02:20,600 --> 00:02:23,959 Speaker 4: a few years prior, they probably would have had another 47 00:02:24,040 --> 00:02:26,320 Speaker 4: seven or eight billion dollars in dividends that they would 48 00:02:26,320 --> 00:02:30,200 Speaker 4: have collected, which is amazing. Number four, I thought it 49 00:02:30,240 --> 00:02:32,119 Speaker 4: was really interesting that he said that there's no other 50 00:02:32,120 --> 00:02:35,760 Speaker 4: option for reserve currency other than the American dollar. If 51 00:02:35,800 --> 00:02:38,200 Speaker 4: all of you is like yours, Ben Fearmonger, you don't 52 00:02:38,240 --> 00:02:40,040 Speaker 4: have to listen to me. You can listen to Uncle Warre. 53 00:02:40,520 --> 00:02:42,959 Speaker 4: Then he's provided you some safety, right, Could I add 54 00:02:43,000 --> 00:02:43,280 Speaker 4: to it? 55 00:02:43,360 --> 00:02:45,560 Speaker 5: Absolutely? I mean this is this is true. 56 00:02:45,639 --> 00:02:48,200 Speaker 6: He said that he doesn't expect you dollar to be 57 00:02:48,280 --> 00:02:52,720 Speaker 6: dethroned as a world's reserve currency anytime soon. Yeah, so 58 00:02:53,880 --> 00:02:56,280 Speaker 6: there's a couple of things you can look at that, right. Yes, 59 00:02:56,440 --> 00:02:59,040 Speaker 6: there's confidence in it at the time being. But the 60 00:02:59,080 --> 00:03:01,320 Speaker 6: fact that he said any time soon means that at 61 00:03:01,360 --> 00:03:04,120 Speaker 6: some point it could be. It could be maybe not 62 00:03:04,200 --> 00:03:09,280 Speaker 6: in his lifetime over fifteen years and yeah maybe yeah. 63 00:03:09,320 --> 00:03:11,680 Speaker 6: And the last one was just stall some paramount. 64 00:03:12,000 --> 00:03:13,720 Speaker 4: He said, it's never good when a company cuts his 65 00:03:13,760 --> 00:03:16,400 Speaker 4: divid in We'll talk about that a little bit more later, 66 00:03:16,440 --> 00:03:19,680 Speaker 4: but yeah, anytime a company cuts their dividend, it's usually 67 00:03:19,760 --> 00:03:23,000 Speaker 4: a sign of weakness and the time to actually get 68 00:03:23,000 --> 00:03:24,560 Speaker 4: out of the stock. And for a lot of the 69 00:03:24,600 --> 00:03:27,400 Speaker 4: streaming players, they don't have that much of a competitive 70 00:03:27,400 --> 00:03:30,799 Speaker 4: advantage anymore. It's not a place to deploy capital. And then, 71 00:03:30,840 --> 00:03:33,080 Speaker 4: of course the regional banks, we'll talk about that later 72 00:03:33,440 --> 00:03:38,000 Speaker 4: than in trouble. So banking has no significant advantage anymore, 73 00:03:38,520 --> 00:03:41,920 Speaker 4: and he does the streaming players. So those are my 74 00:03:42,000 --> 00:03:43,720 Speaker 4: five big takeaways from there. 75 00:03:44,520 --> 00:03:46,520 Speaker 6: He said that a couple of weeks ago about streaming, 76 00:03:46,680 --> 00:03:48,000 Speaker 6: they just didn't like it as a business. 77 00:03:48,120 --> 00:03:53,480 Speaker 4: Yeah, bad Mark, I'm it's not profitable. Here's a simple analysis. Fundamentally, 78 00:03:53,640 --> 00:03:57,200 Speaker 4: if the margins are saying less than twenty percent, don't 79 00:03:57,200 --> 00:04:01,720 Speaker 4: invest like you need Here's you need high growth marketins 80 00:04:01,800 --> 00:04:04,880 Speaker 4: to be able to grow your business, deploy capital into 81 00:04:04,920 --> 00:04:08,040 Speaker 4: that growth. And also they give money back to shareholders, 82 00:04:08,320 --> 00:04:09,840 Speaker 4: Like that's one of the first things you can look 83 00:04:09,840 --> 00:04:12,800 Speaker 4: at fundamentally, Like if they make one hundred dollars per sale, 84 00:04:12,880 --> 00:04:15,720 Speaker 4: how much that are they keeping. Some companies are only 85 00:04:15,760 --> 00:04:18,279 Speaker 4: keeping two and three bucks now, the interest rates have 86 00:04:18,279 --> 00:04:20,560 Speaker 4: been adjusted in the region of banks, some of them 87 00:04:20,600 --> 00:04:24,280 Speaker 4: only keeping one penny and trying to play the basis 88 00:04:24,279 --> 00:04:24,840 Speaker 4: point game. 89 00:04:25,600 --> 00:04:26,599 Speaker 5: It's now good. 90 00:04:26,720 --> 00:04:29,400 Speaker 6: I think one of the things was confirmation, Like listen 91 00:04:29,480 --> 00:04:32,120 Speaker 6: to the takeaways the confirmation, And we spoke about this 92 00:04:32,160 --> 00:04:34,960 Speaker 6: in market Mondays in La Grow shout to Dave Growth. 93 00:04:35,040 --> 00:04:36,560 Speaker 5: Yes we saw last night. 94 00:04:36,600 --> 00:04:39,719 Speaker 6: But we talked about the pressure that commercial real estate 95 00:04:39,760 --> 00:04:42,400 Speaker 6: is going to be and then he doubled down and 96 00:04:42,480 --> 00:04:44,880 Speaker 6: confirmed that and was talking about, you know, higher rates 97 00:04:44,920 --> 00:04:47,880 Speaker 6: are going to put pressure on the commercial space. It 98 00:04:47,960 --> 00:04:50,440 Speaker 6: was like we said this two months ago, right, so 99 00:04:50,480 --> 00:04:52,440 Speaker 6: it's again, It's not like you don't have to listen. 100 00:04:52,600 --> 00:04:54,280 Speaker 5: You have to listen to us. Listen to the greatest 101 00:04:54,400 --> 00:04:55,279 Speaker 5: vest of our time. 102 00:04:55,360 --> 00:04:58,480 Speaker 6: He's telling you, like, yeah, commercial clock is ticking their 103 00:04:58,480 --> 00:05:01,719 Speaker 6: times up. But he also talked about the banks, right, 104 00:05:01,960 --> 00:05:03,880 Speaker 6: and I know people have felt pressure. 105 00:05:03,960 --> 00:05:06,640 Speaker 5: They seen the regional banks, you know, have some turmoil. 106 00:05:06,720 --> 00:05:09,720 Speaker 6: But the number one thing I was like, all right, 107 00:05:09,760 --> 00:05:12,480 Speaker 6: that's cool, but don't worry about it. Positive safe. Yeah, 108 00:05:12,760 --> 00:05:15,320 Speaker 6: so I know that puts calm over a lot of people, right, 109 00:05:15,400 --> 00:05:18,360 Speaker 6: But yeah, if you're invested in the bank, regional banks 110 00:05:18,520 --> 00:05:20,920 Speaker 6: not a great idea. Maybe not a great time, but 111 00:05:21,120 --> 00:05:23,640 Speaker 6: if you're an average person who's just putting their money 112 00:05:23,640 --> 00:05:26,040 Speaker 6: in the bank, yeah you're fine, are going to be saved. 113 00:05:26,279 --> 00:05:28,480 Speaker 6: And then he talked about earnings year over year, and 114 00:05:28,800 --> 00:05:30,400 Speaker 6: you know, that's something we talked about. We watched the 115 00:05:30,440 --> 00:05:32,960 Speaker 6: earnings reports, we watch how they they're going to perform 116 00:05:33,040 --> 00:05:36,360 Speaker 6: compared to the prior. We said, he's expecting to have 117 00:05:36,520 --> 00:05:39,120 Speaker 6: a lower year over year earnings. So we'll have to 118 00:05:39,120 --> 00:05:41,000 Speaker 6: see what that type of impact has on the stop 119 00:05:41,040 --> 00:05:45,040 Speaker 6: of some us over the next twelve months, right, because if. 120 00:05:44,720 --> 00:05:47,960 Speaker 5: They're not bringing that much money, then we probably expect 121 00:05:48,000 --> 00:05:49,560 Speaker 5: to see some of them pull back a little bit. 122 00:05:49,960 --> 00:05:52,440 Speaker 6: Obviously, we'll talk about inflation and the impact that that's 123 00:05:52,440 --> 00:05:55,600 Speaker 6: had and the federate. So it's interesting, like hearing those 124 00:05:55,640 --> 00:05:59,560 Speaker 6: things was like, all right, yeah, we've been things and 125 00:05:59,600 --> 00:06:02,680 Speaker 6: it's again it's confirming the things that we've been saying already, and. 126 00:06:02,680 --> 00:06:04,240 Speaker 4: We can see it in the earnings now they've been 127 00:06:04,279 --> 00:06:09,159 Speaker 4: adjusting guidance slower. Even when I was with Mike and Josh, 128 00:06:09,160 --> 00:06:10,440 Speaker 4: she got to check out the episode with me and 129 00:06:10,480 --> 00:06:12,440 Speaker 4: Josh episode of the compl. 130 00:06:13,760 --> 00:06:16,000 Speaker 7: This episode is brought to you by p and C Bank. 131 00:06:16,400 --> 00:06:19,160 Speaker 7: A lot of people think podcasts about work are boring, 132 00:06:19,360 --> 00:06:22,680 Speaker 7: and sure they definitely can be, but understanding of a 133 00:06:22,680 --> 00:06:25,960 Speaker 7: professionals routine shows us how they achieve their success little 134 00:06:26,000 --> 00:06:29,919 Speaker 7: by little, day after day. It's like banking with P 135 00:06:30,040 --> 00:06:32,880 Speaker 7: and C Bank. 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These are just 165 00:08:19,960 --> 00:08:23,720 Speaker 1: some of the heinous migrant criminals caught because of President 166 00:08:23,760 --> 00:08:27,280 Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States 167 00:08:27,360 --> 00:08:32,120 Speaker 1: Secretary of Homeland Security. Under President Trump. Attempted illegal border 168 00:08:32,160 --> 00:08:35,720 Speaker 1: crossings are at the lowest levels ever recorded, and over 169 00:08:35,800 --> 00:08:39,000 Speaker 1: one hundred thousand illegal aliens have been arrested if you 170 00:08:39,080 --> 00:08:42,920 Speaker 1: are here illegally, your next you will be fined nearly 171 00:08:43,000 --> 00:08:47,040 Speaker 1: one thousand dollars a day, imprisoned, and deported. You will 172 00:08:47,080 --> 00:08:50,720 Speaker 1: never return. But if you register using our CBP home 173 00:08:50,760 --> 00:08:54,120 Speaker 1: app and leave now, you could be allowed to return legally. 174 00:08:54,480 --> 00:08:59,240 Speaker 1: Do what's right, leave now. Under President Trump, America's laws, 175 00:08:59,400 --> 00:09:01,840 Speaker 1: border and families will be protected. 176 00:09:01,960 --> 00:09:04,040 Speaker 2: Sponsored by the United States Department of Homeland Security. 177 00:09:04,120 --> 00:09:05,960 Speaker 4: Yeah, he has been going things to say about you too, 178 00:09:06,000 --> 00:09:08,720 Speaker 4: by the way, being a visionary. So you guys be 179 00:09:08,760 --> 00:09:13,000 Speaker 4: talking so but when I was talking to Josh, I'm like, hey, 180 00:09:13,000 --> 00:09:15,960 Speaker 4: our vacancy rates for the commercial space at like fifteen percent. 181 00:09:16,040 --> 00:09:19,560 Speaker 4: He was like, no, they're almost at twenty. So, like 182 00:09:19,600 --> 00:09:22,439 Speaker 4: a normal rate is like five to ten. Fifteen is 183 00:09:22,480 --> 00:09:26,559 Speaker 4: like a danger sign. I'm like, if we're twenty percent vacancy, 184 00:09:27,040 --> 00:09:28,160 Speaker 4: that is not a good sign. 185 00:09:28,600 --> 00:09:29,319 Speaker 5: We are going to. 186 00:09:29,240 --> 00:09:31,760 Speaker 4: See a correction in that commercial space probably in the 187 00:09:31,760 --> 00:09:34,160 Speaker 4: next two years. And I think that if they didn't 188 00:09:34,160 --> 00:09:36,240 Speaker 4: prop up these regional banks, the bigger banks will have 189 00:09:36,360 --> 00:09:41,320 Speaker 4: to start to pay for those vacancies. It's getting tricky 190 00:09:41,320 --> 00:09:43,720 Speaker 4: out here. Only investing the best companies in the space, 191 00:09:43,760 --> 00:09:44,480 Speaker 4: then you'll be good. 192 00:09:45,080 --> 00:09:50,120 Speaker 6: Yeah, they astraally longer about his response. Old fashioned intelligence 193 00:09:50,120 --> 00:09:50,800 Speaker 6: works pretty well. 194 00:09:50,920 --> 00:09:58,120 Speaker 4: Absolutely, It's just like, why what if a business is 195 00:09:58,160 --> 00:10:02,400 Speaker 4: not profitable or the margins are tooth in. I am 196 00:10:02,440 --> 00:10:04,080 Speaker 4: begging you to stay away. And I know we want 197 00:10:04,080 --> 00:10:05,839 Speaker 4: to gamble and we want to look. I know pepper 198 00:10:05,880 --> 00:10:07,880 Speaker 4: corn is taken off to the moon. It's going to 199 00:10:07,960 --> 00:10:11,240 Speaker 4: come back down to whatever normal deviation is normally at. 200 00:10:11,840 --> 00:10:15,000 Speaker 5: But we have to stop being involved in this hype cycle. Now. 201 00:10:15,040 --> 00:10:16,640 Speaker 4: If you catch it on the upside, I'm not mad 202 00:10:16,679 --> 00:10:19,319 Speaker 4: at it. But once it's in the news is usually 203 00:10:19,400 --> 00:10:21,920 Speaker 4: too late. And that's the thing that I want to 204 00:10:21,960 --> 00:10:24,360 Speaker 4: stress here. Week to week or day to day news 205 00:10:24,400 --> 00:10:27,080 Speaker 4: doesn't matter. It's the principles and investing that matter more 206 00:10:27,080 --> 00:10:27,600 Speaker 4: than anything. 207 00:10:28,679 --> 00:10:32,319 Speaker 3: So and you have it in Berkshire, half aways A 208 00:10:32,600 --> 00:10:37,600 Speaker 3: shares four hundred and ninety seven thousand dollars per year, 209 00:10:37,720 --> 00:10:39,800 Speaker 3: so almost a half a million dollars for one share, 210 00:10:40,240 --> 00:10:44,880 Speaker 3: and B share is three hundred and twenty seven dollars 211 00:10:44,920 --> 00:10:49,040 Speaker 3: per share for it. So the A share can we 212 00:10:49,040 --> 00:10:52,199 Speaker 3: tell you talk about that? Give them some explanation the 213 00:10:52,240 --> 00:10:54,079 Speaker 3: difference between A shar and B Sure. 214 00:10:54,120 --> 00:10:57,280 Speaker 4: Yeah, the class A shares are like the big shares 215 00:10:57,400 --> 00:10:58,240 Speaker 4: like the main. 216 00:11:00,040 --> 00:11:01,480 Speaker 5: Power player shares that you want. 217 00:11:01,559 --> 00:11:03,319 Speaker 4: Of course, if you invest the way back in the day, 218 00:11:03,360 --> 00:11:04,720 Speaker 4: the return and that has been amazing. 219 00:11:05,160 --> 00:11:07,240 Speaker 5: But the reason why he didn't split, so of. 220 00:11:07,160 --> 00:11:11,000 Speaker 4: Course as the price of those shares go up, they 221 00:11:11,040 --> 00:11:13,120 Speaker 4: all earned more. So they made it a B share 222 00:11:13,160 --> 00:11:14,880 Speaker 4: so people like us could be able to get in 223 00:11:15,400 --> 00:11:18,000 Speaker 4: and invest in it because people missed the opportunities. So 224 00:11:18,080 --> 00:11:21,760 Speaker 4: like when Apple was split or Tesla splits, they do 225 00:11:21,840 --> 00:11:24,600 Speaker 4: so so more cash can come in. But because they're 226 00:11:24,600 --> 00:11:28,960 Speaker 4: buying some quality businesses like Gary Queen Ce's Candies, a 227 00:11:28,960 --> 00:11:31,320 Speaker 4: bunch of like home furnishing companies, they didn't want to 228 00:11:31,320 --> 00:11:33,839 Speaker 4: dilute those shares so they can remain rich, but they 229 00:11:33,880 --> 00:11:36,760 Speaker 4: didn't want to provide access to the everyday person to 230 00:11:36,800 --> 00:11:39,320 Speaker 4: be involved in Berkshire and have the safety. So it 231 00:11:39,360 --> 00:11:42,880 Speaker 4: was interesting to see even how they allow people to 232 00:11:42,880 --> 00:11:46,079 Speaker 4: get into the fund later but also kept majority of 233 00:11:46,120 --> 00:11:48,559 Speaker 4: the riches for themselves as well. So I think it's 234 00:11:48,600 --> 00:11:50,480 Speaker 4: the best way to kind of like play the asset 235 00:11:50,480 --> 00:11:51,760 Speaker 4: allocation in ETF. 236 00:11:52,280 --> 00:11:53,160 Speaker 5: Yeah game as. 237 00:11:53,080 --> 00:11:55,560 Speaker 6: Well, And I'm glad you brought that up about acquiring 238 00:11:55,559 --> 00:11:57,440 Speaker 6: companies because one of the things that they spoke about 239 00:11:57,480 --> 00:12:02,040 Speaker 6: at the meeting was their involvement and as a petroleum right, 240 00:12:02,080 --> 00:12:04,320 Speaker 6: we keep seeing them invested in every every quarter and 241 00:12:04,320 --> 00:12:06,760 Speaker 6: it's like, all right, at this point, you're investing in 242 00:12:06,800 --> 00:12:08,640 Speaker 6: this pretty heavily. Are you just going to take over 243 00:12:08,679 --> 00:12:11,839 Speaker 6: the company? And it's His response was really interesting. It 244 00:12:11,880 --> 00:12:14,320 Speaker 6: was like, yeah, we would, but we don't know what 245 00:12:14,320 --> 00:12:18,040 Speaker 6: to do with it. I'm like, if you're invested in 246 00:12:18,040 --> 00:12:19,000 Speaker 6: every quarter, you don't know what to. 247 00:12:19,000 --> 00:12:20,199 Speaker 5: Do with it. So these are the things. 248 00:12:20,200 --> 00:12:22,360 Speaker 6: I mean, you watch for these things, right, So that's 249 00:12:22,360 --> 00:12:25,800 Speaker 6: a company obviously if you're looking if he's looking at 250 00:12:25,840 --> 00:12:28,480 Speaker 6: it and he's putting heavy money behind it, the same 251 00:12:28,520 --> 00:12:30,400 Speaker 6: way when we looked at TSM when they put money in, 252 00:12:30,480 --> 00:12:32,600 Speaker 6: it was like the stop price went up and then 253 00:12:32,640 --> 00:12:35,000 Speaker 6: they sold it and then stock price came down. The 254 00:12:35,000 --> 00:12:37,240 Speaker 6: reason they're moving their money is because they see something 255 00:12:37,880 --> 00:12:38,480 Speaker 6: five ten. 256 00:12:38,440 --> 00:12:39,960 Speaker 5: Years down the line. We're not. 257 00:12:40,400 --> 00:12:42,400 Speaker 6: Yeah, And that's the advantage you have of being in 258 00:12:42,400 --> 00:12:43,160 Speaker 6: those spaces. 259 00:12:43,200 --> 00:12:49,960 Speaker 3: So when Berkshire Halfway stock first came out in nineteen 260 00:12:50,120 --> 00:12:51,040 Speaker 3: eighty four. 261 00:12:51,000 --> 00:12:52,520 Speaker 5: I believe yeah, things later for you. 262 00:12:52,760 --> 00:12:58,600 Speaker 3: It debuted at fourteen hundred dollars. It's currently at around 263 00:12:58,640 --> 00:13:02,480 Speaker 3: five hundred thousand dollars right now. So that is a 264 00:13:03,600 --> 00:13:11,120 Speaker 3: thirty five thousand percent rate of return. That's a thirty 265 00:13:11,120 --> 00:13:13,880 Speaker 3: five thousand put the dollars in your favor. That's a 266 00:13:13,960 --> 00:13:18,320 Speaker 3: thirty five thousand percent rate of return since in thirty 267 00:13:18,520 --> 00:13:23,720 Speaker 3: nine years. And the b chare actually debuted in nineteen 268 00:13:23,840 --> 00:13:24,720 Speaker 3: ninety seven. 269 00:13:24,800 --> 00:13:27,440 Speaker 5: I believeue. 270 00:13:27,760 --> 00:13:32,480 Speaker 3: Nineteen ninety six at twenty dollars and now it is 271 00:13:33,400 --> 00:13:39,880 Speaker 3: three hundred and twenty seven dollars. So that is let 272 00:13:39,920 --> 00:13:41,040 Speaker 3: me see how much that is. 273 00:13:41,800 --> 00:13:43,280 Speaker 4: And that's why we will go back to the rap 274 00:13:43,320 --> 00:13:45,640 Speaker 4: debate versus sports debate thing while they had a debate 275 00:13:45,640 --> 00:13:49,640 Speaker 4: and who was better Mace or Jay or biggin Tipoc'm like, 276 00:13:49,720 --> 00:13:51,240 Speaker 4: no one will screaming with us. You should get b 277 00:13:51,280 --> 00:13:52,280 Speaker 4: shares of birch Shire. 278 00:13:52,400 --> 00:13:57,840 Speaker 3: Yep, that's a fifteen hundred percent rate of return. My 279 00:13:57,960 --> 00:14:06,080 Speaker 3: graduate from my school being force back drop dropdroproft. 280 00:14:16,320 --> 00:14:20,000 Speaker 1: An illegal alien from Guatemala charged with raping a child 281 00:14:20,040 --> 00:14:23,840 Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador 282 00:14:24,080 --> 00:14:28,200 Speaker 1: accused of murdering a Texas man of Venezuelan charged with 283 00:14:28,280 --> 00:14:32,160 Speaker 1: filming and selling child pornography in Michigan. These are just 284 00:14:32,280 --> 00:14:36,040 Speaker 1: some of the heinous migrant criminals caught because of President 285 00:14:36,080 --> 00:14:39,600 Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States 286 00:14:39,680 --> 00:14:44,440 Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border 287 00:14:44,480 --> 00:14:48,040 Speaker 1: crossings are at the lowest levels ever recorded, and over 288 00:14:48,120 --> 00:14:51,320 Speaker 1: one hundred thousand illegal aliens have been arrested. If you 289 00:14:51,400 --> 00:14:55,240 Speaker 1: are here illegally, your next you will be fine nearly 290 00:14:55,320 --> 00:14:59,320 Speaker 1: one thousand dollars a day, imprisoned, and deported, you will 291 00:14:59,360 --> 00:15:03,040 Speaker 1: never return. But if you register using our CBP home 292 00:15:03,080 --> 00:15:06,440 Speaker 1: app and leave now, you could be allowed to return legally. 293 00:15:06,800 --> 00:15:11,520 Speaker 1: Do what's right. Leave now. Under President Trump, America's laws, 294 00:15:11,720 --> 00:15:14,160 Speaker 1: border and families will be protected. 295 00:15:14,280 --> 00:15:16,400 Speaker 2: Sponsored by the United States Department of Homeland Security.