WEBVTT - Warren Buffett's Apple Exit

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<v Speaker 3>Born Buffett made news a few days ago when he

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<v Speaker 3>sold a lot of his apples. And Apple is a

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<v Speaker 3>company that has been struggling. Well, I mean it's docking relative,

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<v Speaker 3>but you know, I've had some issues this year with

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<v Speaker 3>lawsuits in Europe and America and.

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<v Speaker 4>Re rocking the same phone for seventeen years.

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<v Speaker 3>So now that warrant has kind of started to abandon

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<v Speaker 3>the ship. Does this mean that two Tech two Index

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<v Speaker 3>needs to kick Apple out?

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<v Speaker 4>Oh no, not yet.

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<v Speaker 5>But what I will say, number one, you have to

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<v Speaker 5>factor in the price of which he got into Apple.

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<v Speaker 5>So if you know that, please put in chat my

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<v Speaker 5>favorite investor of the year. So the return has been incredible,

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<v Speaker 5>maybe time to assw it. With the death of Charlie,

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<v Speaker 5>there was Charlie's idea at Warrens, so that's another reason

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<v Speaker 5>he kind of got that off the table. Now him

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<v Speaker 5>selling half of the position.

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<v Speaker 4>Do I agree with it? One thousand percent? And here's

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<v Speaker 4>why this is called fundamental analysis.

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<v Speaker 5>The weakness is an Apple is they even though they've

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<v Speaker 5>spent the most on AI startups, they have not had

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<v Speaker 5>much innovation in the last five years. To everybody at HQ,

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<v Speaker 5>I love you still shot to Tim Cook, Lauren Jobs,

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<v Speaker 5>Steve Jobs. Cool, but can you tell me five things

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<v Speaker 5>that you've seen out of Apple the last five years

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<v Speaker 5>that you absolutely love?

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<v Speaker 4>Five deb And if it takes that long.

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<v Speaker 5>To give five reasons while something is great, it ain't there.

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<v Speaker 5>Do I think innovation will come in the next two

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<v Speaker 5>or three years. But I've been saying they need to

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<v Speaker 5>go back and get Johnny Ives and bring it back

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<v Speaker 5>into the consultant fold. You need another product. The AirPods

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<v Speaker 5>have done well great. It was an acquisition from doctor

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<v Speaker 5>Dre and Jimmy Ivean. You missed out on open Ai,

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<v Speaker 5>you missed out on the crypto wallet. The car thing

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<v Speaker 5>was a fucking fiasco. Shot to Loupe, you need another sector,

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<v Speaker 5>and now you're taking too long to move into healthcare,

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<v Speaker 5>and the regulations may be tighter than four or five

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<v Speaker 5>years to do so, depending on who is in office.

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<v Speaker 5>So if I was Buffet and I had one hundred

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<v Speaker 5>and twenty something millions in an Apple, and I don't

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<v Speaker 5>see any prospects of it going up higher, nothing wrong

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<v Speaker 5>with taking profit how of a trade, though they should

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<v Speaker 5>have been in the five years earlier. But this is

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<v Speaker 5>really Charlie's brain child.

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<v Speaker 3>So when you say when you say you don't see

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<v Speaker 3>any prospects of it going higher, and that would mean

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<v Speaker 3>that it has limited upside.

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<v Speaker 5>Right, it doesn't have the same growth rate that it

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<v Speaker 5>does over the last maybe six years. But also profit

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<v Speaker 5>margins still twenty five percent and still one of the

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<v Speaker 5>top three marketing cap companies of all time.

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<v Speaker 2>Yeah, I was gonna say that the profit margins are

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<v Speaker 2>still high.

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<v Speaker 4>Yep.

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<v Speaker 2>It's interesting the timing of it.

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<v Speaker 1>I think a month ago we were talking about him

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<v Speaker 1>shaving thirteen percent, which was a large chunk, and then

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<v Speaker 1>we hear that he shaved up half in this quarter.

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<v Speaker 1>I'm assuming he did it around when Apple hit this

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<v Speaker 1>fifty two week two thirty four, which.

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<v Speaker 2>Makes a lot of sense. Yes, But when the news

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<v Speaker 2>came out early.

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<v Speaker 1>Saturday morning, I text, and I text that in the chat,

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<v Speaker 1>and the next thing I said is he knows something.

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<v Speaker 5>He knows, yes, and he's convinced the whole world. He

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<v Speaker 5>doesn't know how to trade. If you look at the

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<v Speaker 5>exits when he holds on the ship for five to

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<v Speaker 5>ten years, it's usually like four or five dollars from

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<v Speaker 5>the all time high.

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<v Speaker 1>Yeah, we need to get him in Nancy Pelosi in

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<v Speaker 1>a chat and see what we can do. But yeah,

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<v Speaker 1>I mean half is a lot, But what does that

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<v Speaker 1>mean in terms of cash? That means two hundred and

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<v Speaker 1>twenty seven billion.

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<v Speaker 4>Most of all time and a bunch of Treasury.

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<v Speaker 2>Bills just sitting on the sideline.

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<v Speaker 1>And so if you see a market pullback like we've

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<v Speaker 1>seen obviously today, and if that continues over the rest

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<v Speaker 1>of this quarter, there's gonna be plenty of opportunities for

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<v Speaker 1>him to buy into new positions.

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<v Speaker 2>In fact, he might go back and buy some more

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<v Speaker 2>Apple positions. We don't know. He's still a large shareholder

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<v Speaker 2>of the company. Well first sure Halfway is a large

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<v Speaker 2>shareholder of the company.

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<v Speaker 1>And so the timing of it, it seems like when

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<v Speaker 1>he makes these moves, you see the trickle effect.

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<v Speaker 2>It was no coincidence. When he went to.

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<v Speaker 1>Taiwan to talk, we saw the trickle effect happen. But

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<v Speaker 1>what Taiwan semiconducted, I don't know. You said abandoned, which

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<v Speaker 1>is a strong word.

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<v Speaker 2>I don't. I don't.

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<v Speaker 1>I don't know if where if he abandons it like

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<v Speaker 1>you said that, there's still yeah.

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<v Speaker 4>No, here's slowly trim and he's Trim's.

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<v Speaker 5>If I was him, I will push Intel down to

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<v Speaker 5>seven and buy the whole fucking company.

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<v Speaker 2>Just buy it, all right.

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<v Speaker 5>I can't get Taiwan. They ran up in video. He's

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<v Speaker 5>a tech blaggered, but entries are innovative. I will find

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<v Speaker 5>a way to push that ship and what better face

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<v Speaker 5>in a global route to pick up into other more.

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<v Speaker 1>Buffet or we should just watch where his focus have

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<v Speaker 1>been over the past six months.

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<v Speaker 2>What industry is, What sectors?

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<v Speaker 1>We spoke about a few of them, like where where

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<v Speaker 1>have the sectors that broke? I know we talk about

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<v Speaker 1>they talk about rotations all the time and it's like techotated.

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<v Speaker 2>Yeah, okay, but where has his focus gone? Where has

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<v Speaker 2>the money move? Right?

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<v Speaker 1>Like we always let people follow the money again, it

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<v Speaker 1>leaves traces. Where has the money gone? Where has his

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<v Speaker 1>focus gone? We talked about oil plenty of times on here,

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<v Speaker 1>but that would be interesting to watch over the next

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<v Speaker 1>few months.

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<v Speaker 2>With that cash pile of two.

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<v Speaker 1>I mean two hundred and twenty seven billions, is just

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<v Speaker 1>where is that going?

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<v Speaker 2>Like where the remnants of it?

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<v Speaker 4>Okay, I want to.

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<v Speaker 5>Be a record if it goes to nine bucks that

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<v Speaker 5>he's gonna put an offering for what Intel and the

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<v Speaker 5>company's ran to ship right now? Well, the government, hos

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<v Speaker 5>is gonna keep it the last ten years and you're

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<v Speaker 5>the laggard in the space.

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<v Speaker 2>Yeah, government contract's gonna keep it alive.

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<v Speaker 4>So okay.

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<v Speaker 3>Bitcoin Bitcoin dipped under fifty thousand today, briefly came back rebounded,

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<v Speaker 3>but it's still down tremendously from his high of seventy

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<v Speaker 3>three thousand, twenty thousand dollars lower than that, but still

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<v Speaker 3>above the fifty two weeks low twenty fourth thou So,

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<v Speaker 3>what is what's the deal with bitcoin?

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<v Speaker 5>It's going down with everything else I kept telling you,

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<v Speaker 5>Larry Finking is the halfway of the bitcoin and crypto

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<v Speaker 5>market space. So it'll move when Blackrock wanted to move.

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<v Speaker 5>If you got it at forty nine thousands some change,

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<v Speaker 5>you did great. If you can get it back at

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<v Speaker 5>fifty two, buy and go to the beach, same thing

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<v Speaker 5>I did with jet Ski.

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<v Speaker 4>If you believe in the assets long term, just hold

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<v Speaker 4>on to it.

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<v Speaker 5>But the truth is the entire economic system needs to

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<v Speaker 5>be readjusted. And I said it on a stock clup

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<v Speaker 5>call yesterday. If a quarter of one percent interest rate

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<v Speaker 5>change is what's going to be the band aid to

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<v Speaker 5>save the market, where before we even get started, if

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<v Speaker 5>a quarter basis point is the thing that's like keeping

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<v Speaker 5>everything glued together, we have to have a reset anyway.

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<v Speaker 5>So Bitcoin is just being drug down as a result,

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<v Speaker 5>like every like the Nike and that they're right in chat,

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<v Speaker 5>they're all tied together. There are no assets that matter

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<v Speaker 5>on Earth that hedge funds are not going to touch

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<v Speaker 5>and have their hands in. So bigcoin got so big

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<v Speaker 5>and trying to your point to XRP. At some point

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<v Speaker 5>I hope it takes off. But the fact that Larry

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<v Speaker 5>and Blackrock have not put their hands in to dominate

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<v Speaker 5>that while the guns of stuff is going on. It's

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<v Speaker 5>very telling they picked the ones that are going to

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<v Speaker 5>win ethereum same thing. So we're having a global pullback

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<v Speaker 5>because something is coming. And I think Warren happened two

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<v Speaker 5>hundred and seventy seven billion on cash. It's talent to

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<v Speaker 5>the public that he knows. He just can't announce what

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<v Speaker 5>is coming over the leak.

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<v Speaker 3>Something is coming. Is a recession coming.

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<v Speaker 4>I've been saying this the last two year.

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<v Speaker 5>Yes, even was on Brukast Club, I predicted twenty four

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<v Speaker 5>to twenty five we would get into recession.

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<v Speaker 3>So we're going so all right, So the recession is

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<v Speaker 3>coming this year, next year.

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<v Speaker 5>I think if Queen Kamama gets in, you can damn

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<v Speaker 5>it guarantee February we hit.

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<v Speaker 4>We're recession.

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<v Speaker 2>We're hit a recession.

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<v Speaker 1>What about your idea of the soft landing, because it's

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<v Speaker 1>felt up until his point, up until mid July, I

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<v Speaker 1>mean the nastac was at all time high, be all

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<v Speaker 1>time high, doubt, all time high. I think July temper

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<v Speaker 1>hit that mark. Valuations through the roof, multiples through the

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<v Speaker 1>roof that has pulled back. Now is the theory of

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<v Speaker 1>soft landing. Are you still opposed to it?

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<v Speaker 5>We want truth to truth. Uh truth, soft landing was

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<v Speaker 5>some bullshit from the very beginner. That's another phrase for

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<v Speaker 5>market manipulation. So if you got in and you priced

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<v Speaker 5>it in great, okay. I asked both of you take

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<v Speaker 5>me out of the equation if you never met me.

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<v Speaker 5>Off the top of your head, if your entire life

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<v Speaker 5>savings had to go into four companies, what four would

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<v Speaker 5>you pick?

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<v Speaker 4>After it takes that long, I got in trouble and

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<v Speaker 4>go ahead.

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<v Speaker 2>I got. I mean it's for but it's probably obvious.

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<v Speaker 4>For like Apple, Microsoft.

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<v Speaker 2>I've taken video in Amazon.

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<v Speaker 4>Now rashad as an advisor.

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<v Speaker 5>If I told you eight years ago nobody said bonds,

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<v Speaker 5>you would say I was a scam artist, right, A.

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<v Speaker 4>Fucking bond market collapse and the yen collapsed and no,

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<v Speaker 4>Everyone's like, no, it's fine.

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<v Speaker 5>The junis riv Ai is going to bring the market

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<v Speaker 5>what okay? Okay, I knew what everybody thought. I was

0:11:18.960 --> 0:11:20.600
<v Speaker 5>crazy for one oh seven. I'm like, man, if I

0:11:20.600 --> 0:11:23.240
<v Speaker 5>tell you why this shit can really go and how

0:11:23.320 --> 0:11:25.520
<v Speaker 5>much of the rest of the market has support, it's scary.

0:11:25.920 --> 0:11:27.760
<v Speaker 5>I think a lot of black people are already in

0:11:27.800 --> 0:11:32.600
<v Speaker 5>recession anyway. A lot of men sized businesses are in

0:11:33.000 --> 0:11:35.359
<v Speaker 5>like recession anyway.

0:11:36.240 --> 0:11:38.559
<v Speaker 3>But I want to ask, how would this really affect

0:11:38.559 --> 0:11:41.480
<v Speaker 3>because yeah, I mean the consumer sentiment is already recession,

0:11:42.160 --> 0:11:46.280
<v Speaker 3>so a recession. How how bad would it get if

0:11:46.800 --> 0:11:48.600
<v Speaker 3>technically people are already in recession?

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<v Speaker 5>I mean, if I think if they only show the

0:11:52.320 --> 0:11:55.200
<v Speaker 5>truth and tell how even with the jobs report, I'm like,

0:11:55.320 --> 0:11:57.600
<v Speaker 5>I don't think that's the real because if we take

0:11:57.600 --> 0:12:01.040
<v Speaker 5>the government jobs out of it, how many jobs are we.

0:12:01.160 --> 0:12:02.240
<v Speaker 4>Net positive.

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<v Speaker 2>Destiny?

0:12:04.120 --> 0:12:06.800
<v Speaker 4>I want to see. Now that's the part that's really tough.

0:12:06.800 --> 0:12:09.240
<v Speaker 5>Now, if you take out the jobs to pay twenty

0:12:09.280 --> 0:12:12.559
<v Speaker 5>five hours twenty five dollars per hour unless and government jobs,

0:12:12.559 --> 0:12:15.080
<v Speaker 5>like what is the net? If you look at Silicon Valley,

0:12:15.480 --> 0:12:19.040
<v Speaker 5>they've been on a freeze. We all know people that

0:12:19.160 --> 0:12:21.000
<v Speaker 5>meta like they weren't hiring, like how they were two

0:12:21.080 --> 0:12:24.120
<v Speaker 5>years ago and they were slashing fucking jobs like crazy

0:12:24.160 --> 0:12:26.520
<v Speaker 5>to you, like, this is real and I'm not trying

0:12:26.559 --> 0:12:28.920
<v Speaker 5>to be doom and gloom, but as an investor, you

0:12:29.040 --> 0:12:33.480
<v Speaker 5>have to be honest. Like California is in a complete

0:12:33.559 --> 0:12:40.400
<v Speaker 5>a state is in decline, got border issues, Chicago trouble.

0:12:40.640 --> 0:12:42.200
<v Speaker 5>Like even when I was there was aying to visit

0:12:42.240 --> 0:12:44.920
<v Speaker 5>the family. I'm like, some landmarks that were incredibly popular

0:12:45.720 --> 0:12:48.079
<v Speaker 5>five years ago are not there or thriving.

0:12:48.640 --> 0:12:52.760
<v Speaker 1>But aren't I mean they've tried their best. If anything,

0:12:52.760 --> 0:12:54.959
<v Speaker 1>they've tried their best to make this as off as possible.

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<v Speaker 1>Pause when you think about it, and this is the

0:12:57.559 --> 0:13:01.600
<v Speaker 1>unfortunate part of interest rates, right, Like people are going

0:13:01.640 --> 0:13:04.840
<v Speaker 1>to lose jobs, right, we have to have people lose

0:13:04.920 --> 0:13:06.720
<v Speaker 1>jobs in order to bring that rate down.

0:13:06.800 --> 0:13:08.920
<v Speaker 5>Were they over hire during at the beginning of the

0:13:08.960 --> 0:13:11.480
<v Speaker 5>pandemic twenty were at zero?

0:13:11.880 --> 0:13:12.040
<v Speaker 2>Right?

0:13:12.080 --> 0:13:15.360
<v Speaker 1>So the non the non farm jobs have come down, right,

0:13:16.400 --> 0:13:20.199
<v Speaker 1>that would be a positive sign, right, right, Inflation has

0:13:20.240 --> 0:13:24.040
<v Speaker 1>come down. So like these these things, whether they've been

0:13:24.040 --> 0:13:26.720
<v Speaker 1>manufactured or not. I mean, we'd have to be like

0:13:26.760 --> 0:13:30.000
<v Speaker 1>an expert economist to actually follow those numbers like stridently.

0:13:30.080 --> 0:13:33.280
<v Speaker 1>But isn't that Like this is part of the hardship

0:13:33.320 --> 0:13:36.560
<v Speaker 1>that comes with if we want a half percent or

0:13:36.559 --> 0:13:39.440
<v Speaker 1>a quarter percent in September, like, these things have to happen.

0:13:39.480 --> 0:13:42.120
<v Speaker 1>I feel like this is the natural course if we

0:13:42.160 --> 0:13:43.160
<v Speaker 1>want rates to come down.

0:13:43.280 --> 0:13:44.520
<v Speaker 2>No, very true.

0:13:44.520 --> 0:13:47.040
<v Speaker 5>But also when they hire at the rate of three

0:13:47.200 --> 0:13:49.760
<v Speaker 5>x because the interest rate was zero. When when does

0:13:49.840 --> 0:13:52.600
<v Speaker 5>venture capital and angel investors get the blame for causing

0:13:53.480 --> 0:13:56.120
<v Speaker 5>this mass introduction of all these jobs that were not needed.

0:13:57.040 --> 0:13:57.960
<v Speaker 4>Private equity is.

0:13:57.960 --> 0:14:00.000
<v Speaker 5>Going through a whole shit show that no one will

0:14:00.040 --> 0:14:05.520
<v Speaker 5>wants to talk about. And we gotta tell the truth.

0:14:06.040 --> 0:14:10.040
<v Speaker 5>They over hired. And if the entire American economy is

0:14:10.080 --> 0:14:12.880
<v Speaker 5>tied to janitor of AI, that can make a dog's

0:14:12.880 --> 0:14:13.480
<v Speaker 5>ear bigger.

0:14:13.679 --> 0:14:15.000
<v Speaker 4>We are fucked.

0:14:16.679 --> 0:14:17.040
<v Speaker 2>Shady.

0:14:17.440 --> 0:14:18.880
<v Speaker 4>What three companies right now?

0:14:18.960 --> 0:14:21.800
<v Speaker 5>If your entire life, savings and brain was on the line,

0:14:21.800 --> 0:14:26.840
<v Speaker 5>that you put your money into Microsoft and investment, invest

0:14:26.920 --> 0:14:29.000
<v Speaker 5>up and I will play two more.

0:14:29.040 --> 0:14:29.400
<v Speaker 4>What's up?

0:14:29.400 --> 0:14:35.040
<v Speaker 5>We're talking today? But out of that, notice all the

0:14:35.080 --> 0:14:36.720
<v Speaker 5>companies we're not mentioning.

0:14:38.600 --> 0:14:41.080
<v Speaker 2>We I mean, we gave thirty the other day.

0:14:41.160 --> 0:14:42.600
<v Speaker 3>I do want to say, I'm glad you said that,

0:14:42.880 --> 0:14:44.320
<v Speaker 3>because I want to get your perspective.

0:14:44.960 --> 0:14:45.840
<v Speaker 2>You gotta give us two.

0:14:47.520 --> 0:14:49.440
<v Speaker 4>I think it was a rhetorical I think it was rhetorical. Well,

0:14:49.480 --> 0:14:51.160
<v Speaker 4>I thought it was not literal.

0:14:52.480 --> 0:14:54.040
<v Speaker 2>That you can't give us two.

0:14:55.200 --> 0:14:57.040
<v Speaker 4>I gave you Microsoft already. What's up?

0:14:57.360 --> 0:14:59.560
<v Speaker 3>You got to I mean, of course you're gonna go

0:14:59.600 --> 0:15:00.200
<v Speaker 3>Microsoft off.

0:15:00.240 --> 0:15:01.440
<v Speaker 4>That's the number one draft pick.

0:15:03.000 --> 0:15:03.440
<v Speaker 2>Stacy.

0:15:03.600 --> 0:15:05.880
<v Speaker 5>Microsoft is our bond market for shot up. I'll told

0:15:05.880 --> 0:15:07.520
<v Speaker 5>you in two thousand and nine, Microsoft will be our

0:15:07.560 --> 0:15:10.840
<v Speaker 5>bond market. You would say I was crazy, right, No

0:15:11.000 --> 0:15:13.840
<v Speaker 5>single equity should be the most stable thing in our market.

0:15:15.200 --> 0:15:15.720
<v Speaker 2>That's fair.

0:15:16.800 --> 0:15:20.480
<v Speaker 6>An illegal alien from Guatemala charged with raping a child

0:15:20.520 --> 0:15:24.320
<v Speaker 6>in Massachusetts. An MS thirteen gang member from Al Salvador

0:15:24.560 --> 0:15:28.680
<v Speaker 6>accused of murdering a Texas man of Venezuelan charged with

0:15:28.760 --> 0:15:32.640
<v Speaker 6>filming and selling child pornography in Michigan. These are just

0:15:32.760 --> 0:15:36.520
<v Speaker 6>some of the heinous migrant criminals caught because of President

0:15:36.560 --> 0:15:40.080
<v Speaker 6>Donald J. Trump's leadership. I'm Christy Noman, the United States

0:15:40.120 --> 0:15:44.920
<v Speaker 6>Secretary of Homeland Security. Under President Trump, attempted illegal border

0:15:44.960 --> 0:15:48.520
<v Speaker 6>crossings are at the lowest levels ever recorded, and over

0:15:48.560 --> 0:15:51.800
<v Speaker 6>one hundred thousand illegal aliens have been arrested. If you

0:15:51.880 --> 0:15:55.720
<v Speaker 6>are here illegally, your next you will be fine nearly

0:15:55.800 --> 0:15:59.760
<v Speaker 6>one thousand dollars a day, imprisoned and deported. You will

0:15:59.800 --> 0:16:03.520
<v Speaker 6>never return. But if you register using our CBP home

0:16:03.560 --> 0:16:06.920
<v Speaker 6>app and leave now, you could be allowed to return legally.

0:16:07.280 --> 0:16:12.000
<v Speaker 6>Do what's right. Leave now. Under President Trump, America's laws,

0:16:12.200 --> 0:16:14.640
<v Speaker 6>border and families will be protected.

0:16:14.760 --> 0:16:16.880
<v Speaker 4>Sponsored by the United States Department of Homeland Security,