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

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Speaker 2: Erness What's Up?

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Speaker 3: Warren Buffett's Berkshire Half Boy trims its stake in Chinese

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Speaker 3: eth maker EYD to six point nine. Is this a

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Speaker 3: bad sign for the EV market?

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Speaker 4: Yeah? And Elon got that big payout.

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Speaker 5: Oh man, my man hit the stanky leg on stage

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Speaker 5: when he got us payout. Now he's talking about robots

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Speaker 5: that he wanted to sell for twenty thousand. Now I

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Speaker 5: got vilified for premium pricing. He want to tell you

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Speaker 5: a robot that is gonna do your dishes? Okay, one

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Speaker 5: day we're going to have a great conversation about the mallarkey.

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Speaker 5: I'm gonna clean it up because I want you to

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Speaker 5: just struck us behind the entire EV space?

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Speaker 4: Does the EV space actually use more energy?

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Speaker 5: And even though it's supposed to be a sustainable option,

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Speaker 5: GM is eating Tessel's lunch for a car company of

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Speaker 5: the year.

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Speaker 4: If you looking based on returns, I like BYD. I like.

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Speaker 5: The car, I like the company. But if he's traming

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Speaker 5: his stick in it, there's a reason why. And here's

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Speaker 5: a note that people may want to write down. If

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Speaker 5: Warren Buffett does something, it's usually because he has an

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Speaker 5: inside information from Builderberg Group counselor on foreign relations or

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Speaker 5: that government that we will never have access to to

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Speaker 5: probably five or six years later, I think the entire

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Speaker 5: EV space is in shambles.

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Speaker 4: And you know who help kill it.

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Speaker 5: Jensen EV was the semiconductor space four years ago.

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Speaker 4: Hasn't given the return.

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Speaker 5: So TESSELA is down byd even though I think it's

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Speaker 5: a better company. The space overall is down. So I

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Speaker 5: would be very cautious over the next couple of years

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Speaker 5: if this sector is going.

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Speaker 1: To do well or not all right, So this this

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Speaker 1: headline might be a little bit misleading. So bad sign.

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Speaker 1: Anytime you're declining a position, I don't know if it's

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Speaker 1: always a bad sign. So the position that they had

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Speaker 1: prior to this was they had it was a seven

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Speaker 1: percent uh, holding it right, seven percent. They went to

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Speaker 1: six point seven point three right, not seven flat. Okay,

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Speaker 1: it's at six point nine.

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Speaker 2: Yeah, I'm not right now.

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Speaker 1: They bought and this is and he gives credit to Recipeace,

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Speaker 1: Charlie Monger, this is all his billion idead. But b

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Speaker 1: bid solid company, like you just said, they actually passed

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Speaker 1: Tesla to be the number one battery powered vehicle. Oh

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Speaker 1: in the world. They bought this in two thousand and eight.

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Speaker 1: Since two thousand and eight, bid has run up six

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Speaker 1: hundred percent.

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Speaker 2: Yep, that's a large number.

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Speaker 1: The investment was two hundred and thirty million for twenty

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Speaker 1: two hundred and twenty five million shares, so they put

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Speaker 1: two hundred and thirty million. That's going up six hundred percent.

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Speaker 1: They've taken some chairs off the table.

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Speaker 5: When Warren starts your trim, though, does the does he

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Speaker 5: can you to trim or then add back?

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Speaker 2: Historically he doesn't add back, but.

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Speaker 5: He's still tell yeah, no, no, no, you're right, right, liketally, right,

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Speaker 5: But once he starts cutting, that's the same thing I

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Speaker 5: said about Apple. Once he hit that like he do,

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Speaker 5: like I do in my relationships, once I start to

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Speaker 5: go no, it's over with.

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Speaker 1: Yeah, well that's what I was going to use as

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Speaker 1: an example. Right, if we're talking about trimming, he did

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Speaker 1: trim some Apple shares, Yep. Not the end of the

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Speaker 1: world for Apple. It's still the number one holding right

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Speaker 1: in Berkshire currently yep. Currently, So I mean, yes, that

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Speaker 1: doesn't mean that the space is great, right when when

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Speaker 1: we're talking about sales and the enthusiasm around it and

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Speaker 1: who in the new innovative companies inside of it, will

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Speaker 1: it be consolidation, How will the you know, traditional automotives

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Speaker 1: react where they respond to you know, new emission legislation,

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Speaker 1: all these things that are varying over the next five

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Speaker 1: or six years. But yeah, I just context is important, right, So,

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Speaker 1: like if we're talking about seven percent, now you have

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Speaker 1: six point nine. Not the end of the world, but yeah,

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Speaker 1: not the best sign in the world that he's shrimming.

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Speaker 5: I'm a Shoty's commentary. We will monitor the situation, and

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Speaker 5: it was months he gonna come back. Meanwhile, GM opened

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Speaker 5: up at what thirty five, seventy three? There, forty seven

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Speaker 5: and Elon got a fifty nine billion dollar pay package

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Speaker 5: in the last two years and start down sixty percent, and.

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Speaker 1: They was trying to get him down to what thirteen million?

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Speaker 1: You having that take fifty six billion?

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Speaker 4: Try that a lot of my boy clean? Now you

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Speaker 4: got to pay out. Hey, listen, I'm mad.

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Speaker 5: Did some ketemine two file was waiting on fifty five boy,

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Speaker 5: give my money what he was extremely a common on

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Speaker 5: this mouse pad of a car, and y'all won't pay me.

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Speaker 4: Hey, pay up, pay up? An, I'm moved to Austin.

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Speaker 5: Gotcha, gotcha, We'll play Eli Supreme Pustler.

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Speaker 3: Talking about the energy set, the Kinonco Phillips has agreed

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Speaker 3: to acquire Marathon Oil in an all stock deal valued

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Speaker 3: at seventeen billion. How does impact the energy sector and shareholders?

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Speaker 3: And why aren't you the biggest fan of the energy sector.

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Speaker 4: I don't have a few people have asked me this.

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Speaker 4: I don't know.

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Speaker 5: If they are here in Texas and just love energy,

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Speaker 5: I don't. I mean, I think that Sign is one

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Speaker 5: of the biggest players and they always will be. I

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Speaker 5: just think there's better returns elsewhere, I think there's more

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Speaker 5: safety and apple. I don't have to worry about the

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Speaker 5: cyclical stuff of energy. Of course, in video amd A

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Speaker 5: like is the energy sector better than the pharmaceutical sector

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Speaker 5: or healthcare?

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Speaker 4: No? So for me, it's not about emotion, and I

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Speaker 4: think it's a really good lesson.

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Speaker 5: You have to invest based almost going to give you

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Speaker 5: highest return and not based on a feeling. Now that

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Speaker 5: feels nineteen eighty, maybe I would go more energy focused,

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Speaker 5: but we're not in nineteen eighty. Clearly healthcare is having

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Speaker 5: a dominant forest, semiconductors and technology doing a hell of

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Speaker 5: a lot better. I don't have to worry about the

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Speaker 5: timing of it or political wars like you know, almost

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Speaker 5: the tech sector is almost unbreakable, if you will, and

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Speaker 5: those geopolitical factors that are not there. So it's not

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Speaker 5: that I don't like it, but I just think there

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Speaker 5: are a couple of sectors that are dramatically better.

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Speaker 2: Yeah, I'm with you.

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Speaker 1: I think the cynical nature of it right when it's

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Speaker 1: in season for somebody that's just starting, that's tough to

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Speaker 1: really comprehend. The tough to follow, But there isn't interesting.

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Speaker 1: There's something interesting happening inside of the energy sector. I'm

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Speaker 1: gonna run up some numbers for you to give context

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Speaker 1: to it. Right, So you spoke about Exxon. Exxon purchase

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Speaker 1: Pioneer for sixty billion dollars, right, sixty billion. Ye, Chevron

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Speaker 1: is direct competitor, agreed to take over HATS for fifty

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Speaker 1: three billion dollars. Goodbye, yep. Oxidam Petroleum. We just spoke

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Speaker 1: about one Buffett. You know, he's definitely invested in them.

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Speaker 1: They bought Crown Rock for eleven billion dollars. Uh, Diamondback

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Speaker 1: Energy acquired Endeavor Energy Partners for twenty six billion. So

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Speaker 1: I'm seeing a lot of cash flow inside the space,

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Speaker 1: right solid, and we're seeing that's other things I say,

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Speaker 1: we're seeing a lot of consolidation, which is interesting because

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Speaker 1: that is something that could be cyclical when you start

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Speaker 1: talking about different sectors. When I was just talking about

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Speaker 1: the EV will there be consolidation. The problem is inside

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Speaker 1: the EV space, which is unlike this one, which this

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Speaker 1: capital here.

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Speaker 5: Thank You's M two money supply has not affected this

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Speaker 5: sector at all.

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Speaker 4: There's a lot of money and energy.

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Speaker 1: Yeah, there's a there's a lot of money in it,

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Speaker 1: and there's no slowdown, right, A lot of times we

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Speaker 1: need to be less dominant oil reliant on No, this

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Speaker 1: doesn't show that.

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Speaker 2: These numbers don't show that this number us regulation.

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Speaker 5: If you're gonna be honest, there's a lot of posturing

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Speaker 5: around the regulation. Not really like a lot of these

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Speaker 5: mergers and acquisitions that have happened and no one's it

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Speaker 5: hasn't made the front page of Bloomberg or.

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Speaker 2: Baron Ship right now. I have to go look these

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Speaker 2: things up.

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Speaker 1: This is just something like when we hear the tech

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Speaker 1: acquisitions or potential acquisitions, it's always like, oh, there's a

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Speaker 1: monopoly for me. Yeah, this this board is being formed

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Speaker 1: pretty clearly here. There's gonna be about maybe six to

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Speaker 1: ten of these companies that are just gonna dominate, and

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Speaker 1: it's set up right there that they're set up.

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Speaker 2: To dominate for the future.

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Speaker 1: When you're talking about all these mergers and the ones

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Speaker 1: I just ran off for four that have happened in

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Speaker 1: the past probably twelve months, Yeah, something.

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Speaker 4: That's going to be maybe next on it.

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Speaker 5: If there someone gets Duke Energy for a great price,

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Speaker 5: be a great steal, and we'll consolidate and see a

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Speaker 5: big four like we're doing everything else. And then but yeah,

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Speaker 5: with tech getting all the focus, and then video it

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Speaker 5: was metaphor a while, and then Apple, they've slowly, you know,

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Speaker 5: I've begun to consolidate quietly, and then at some point

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Speaker 5: two of them will partner up and take over a

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Speaker 5: tessela or an eed space and put them underneath their way.

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Speaker 6: An illegal alien from Guatemala charged with raping a child

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Speaker 6: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 6: accused of murdering a Texas. Man of Venezuelan charged with

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Speaker 6: filming and selling child pornography in Michigan. These are just

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Speaker 6: some of the heinous migrant criminals caught because of President

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Speaker 6: Donald J. Trump's leadership. I'm Christy Noman, the United States

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Speaker 6: Secretary of Homeland Security. Under President Trump, Attempted illegal border

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Speaker 6: crossings are at the lowest levels ever recorded, and over

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Speaker 6: one hundred thousand illegal aliens have been arrested. If you

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Speaker 6: were here illegally, your next you will be fine nearly

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Speaker 6: one thousand dollars today. Imprisoned and deported, you will never return.

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Speaker 6: But if you register using our CBP home app and

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Speaker 6: leave now, you could be allowed to return legally. Do

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Speaker 6: what's right. Leave now under President Trump, America's laws, border

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Speaker 6: and families will be protected.

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