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Speaker 3: Born Buffett made news a few days ago when he
Speaker 3: sold a lot of his apples. And Apple is a
Speaker 3: company that has been struggling. Well, I mean it's docking relative,
Speaker 3: but you know, I've had some issues this year with
Speaker 3: lawsuits in Europe and America and.
Speaker 4: Re rocking the same phone for seventeen years.
Speaker 3: So now that warrant has kind of started to abandon
Speaker 3: the ship. Does this mean that two Tech two Index
Speaker 3: needs to kick Apple out?
Speaker 4: Oh no, not yet.
Speaker 5: But what I will say, number one, you have to
Speaker 5: factor in the price of which he got into Apple.
Speaker 5: So if you know that, please put in chat my
Speaker 5: favorite investor of the year. So the return has been incredible,
Speaker 5: maybe time to assw it. With the death of Charlie,
Speaker 5: there was Charlie's idea at Warrens, so that's another reason
Speaker 5: he kind of got that off the table. Now him
Speaker 5: selling half of the position.
Speaker 4: Do I agree with it? One thousand percent? And here's
Speaker 4: why this is called fundamental analysis.
Speaker 5: The weakness is an Apple is they even though they've
Speaker 5: spent the most on AI startups, they have not had
Speaker 5: much innovation in the last five years. To everybody at HQ,
Speaker 5: I love you still shot to Tim Cook, Lauren Jobs,
Speaker 5: Steve Jobs. Cool, but can you tell me five things
Speaker 5: that you've seen out of Apple the last five years
Speaker 5: that you absolutely love?
Speaker 4: Five deb And if it takes that long.
Speaker 5: To give five reasons while something is great, it ain't there.
Speaker 5: Do I think innovation will come in the next two
Speaker 5: or three years. But I've been saying they need to
Speaker 5: go back and get Johnny Ives and bring it back
Speaker 5: into the consultant fold. You need another product. The AirPods
Speaker 5: have done well great. It was an acquisition from doctor
Speaker 5: Dre and Jimmy Ivean. You missed out on open Ai,
Speaker 5: you missed out on the crypto wallet. The car thing
Speaker 5: was a fucking fiasco. Shot to Loupe, you need another sector,
Speaker 5: and now you're taking too long to move into healthcare,
Speaker 5: and the regulations may be tighter than four or five
Speaker 5: years to do so, depending on who is in office.
Speaker 5: So if I was Buffet and I had one hundred
Speaker 5: and twenty something millions in an Apple, and I don't
Speaker 5: see any prospects of it going up higher, nothing wrong
Speaker 5: with taking profit how of a trade, though they should
Speaker 5: have been in the five years earlier. But this is
Speaker 5: really Charlie's brain child.
Speaker 3: So when you say when you say you don't see
Speaker 3: any prospects of it going higher, and that would mean
Speaker 3: that it has limited upside.
Speaker 5: Right, it doesn't have the same growth rate that it
Speaker 5: does over the last maybe six years. But also profit
Speaker 5: margins still twenty five percent and still one of the
Speaker 5: top three marketing cap companies of all time.
Speaker 2: Yeah, I was gonna say that the profit margins are
Speaker 2: still high.
Speaker 4: Yep.
Speaker 2: It's interesting the timing of it.
Speaker 1: I think a month ago we were talking about him
Speaker 1: shaving thirteen percent, which was a large chunk, and then
Speaker 1: we hear that he shaved up half in this quarter.
Speaker 1: I'm assuming he did it around when Apple hit this
Speaker 1: fifty two week two thirty four, which.
Speaker 2: Makes a lot of sense. Yes, But when the news
Speaker 2: came out early.
Speaker 1: Saturday morning, I text, and I text that in the chat,
Speaker 1: and the next thing I said is he knows something.
Speaker 5: He knows, yes, and he's convinced the whole world. He
Speaker 5: doesn't know how to trade. If you look at the
Speaker 5: exits when he holds on the ship for five to
Speaker 5: ten years, it's usually like four or five dollars from
Speaker 5: the all time high.
Speaker 1: Yeah, we need to get him in Nancy Pelosi in
Speaker 1: a chat and see what we can do. But yeah,
Speaker 1: I mean half is a lot, But what does that
Speaker 1: mean in terms of cash? That means two hundred and
Speaker 1: twenty seven billion.
Speaker 4: Most of all time and a bunch of Treasury.
Speaker 2: Bills just sitting on the sideline.
Speaker 1: And so if you see a market pullback like we've
Speaker 1: seen obviously today, and if that continues over the rest
Speaker 1: of this quarter, there's gonna be plenty of opportunities for
Speaker 1: him to buy into new positions.
Speaker 2: In fact, he might go back and buy some more
Speaker 2: Apple positions. We don't know. He's still a large shareholder
Speaker 2: of the company. Well first sure Halfway is a large
Speaker 2: shareholder of the company.
Speaker 1: And so the timing of it, it seems like when
Speaker 1: he makes these moves, you see the trickle effect.
Speaker 2: It was no coincidence. When he went to.
Speaker 1: Taiwan to talk, we saw the trickle effect happen. But
Speaker 1: what Taiwan semiconducted, I don't know. You said abandoned, which
Speaker 1: is a strong word.
Speaker 2: I don't. I don't.
Speaker 1: I don't know if where if he abandons it like
Speaker 1: you said that, there's still yeah.
Speaker 4: No, here's slowly trim and he's Trim's.
Speaker 5: If I was him, I will push Intel down to
Speaker 5: seven and buy the whole fucking company.
Speaker 2: Just buy it, all right.
Speaker 5: I can't get Taiwan. They ran up in video. He's
Speaker 5: a tech blaggered, but entries are innovative. I will find
Speaker 5: a way to push that ship and what better face
Speaker 5: in a global route to pick up into other more.
Speaker 1: Buffet or we should just watch where his focus have
Speaker 1: been over the past six months.
Speaker 2: What industry is, What sectors?
Speaker 1: We spoke about a few of them, like where where
Speaker 1: have the sectors that broke? I know we talk about
Speaker 1: they talk about rotations all the time and it's like techotated.
Speaker 2: Yeah, okay, but where has his focus gone? Where has
Speaker 2: the money move? Right?
Speaker 1: Like we always let people follow the money again, it
Speaker 1: leaves traces. Where has the money gone? Where has his
Speaker 1: focus gone? We talked about oil plenty of times on here,
Speaker 1: but that would be interesting to watch over the next
Speaker 1: few months.
Speaker 2: With that cash pile of two.
Speaker 1: I mean two hundred and twenty seven billions, is just
Speaker 1: where is that going?
Speaker 2: Like where the remnants of it?
Speaker 4: Okay, I want to.
Speaker 5: Be a record if it goes to nine bucks that
Speaker 5: he's gonna put an offering for what Intel and the
Speaker 5: company's ran to ship right now? Well, the government, hos
Speaker 5: is gonna keep it the last ten years and you're
Speaker 5: the laggard in the space.
Speaker 2: Yeah, government contract's gonna keep it alive.
Speaker 4: So okay.
Speaker 3: Bitcoin Bitcoin dipped under fifty thousand today, briefly came back rebounded,
Speaker 3: but it's still down tremendously from his high of seventy
Speaker 3: three thousand, twenty thousand dollars lower than that, but still
Speaker 3: above the fifty two weeks low twenty fourth thou So,
Speaker 3: what is what's the deal with bitcoin?
Speaker 5: It's going down with everything else I kept telling you,
Speaker 5: Larry Finking is the halfway of the bitcoin and crypto
Speaker 5: market space. So it'll move when Blackrock wanted to move.
Speaker 5: If you got it at forty nine thousands some change,
Speaker 5: you did great. If you can get it back at
Speaker 5: fifty two, buy and go to the beach, same thing
Speaker 5: I did with jet Ski.
Speaker 4: If you believe in the assets long term, just hold
Speaker 4: on to it.
Speaker 5: But the truth is the entire economic system needs to
Speaker 5: be readjusted. And I said it on a stock clup
Speaker 5: call yesterday. If a quarter of one percent interest rate
Speaker 5: change is what's going to be the band aid to
Speaker 5: save the market, where before we even get started, if
Speaker 5: a quarter basis point is the thing that's like keeping
Speaker 5: everything glued together, we have to have a reset anyway.
Speaker 5: So Bitcoin is just being drug down as a result,
Speaker 5: like every like the Nike and that they're right in chat,
Speaker 5: they're all tied together. There are no assets that matter
Speaker 5: on Earth that hedge funds are not going to touch
Speaker 5: and have their hands in. So bigcoin got so big
Speaker 5: and trying to your point to XRP. At some point
Speaker 5: I hope it takes off. But the fact that Larry
Speaker 5: and Blackrock have not put their hands in to dominate
Speaker 5: that while the guns of stuff is going on. It's
Speaker 5: very telling they picked the ones that are going to
Speaker 5: win ethereum same thing. So we're having a global pullback
Speaker 5: because something is coming. And I think Warren happened two
Speaker 5: hundred and seventy seven billion on cash. It's talent to
Speaker 5: the public that he knows. He just can't announce what
Speaker 5: is coming over the leak.
Speaker 3: Something is coming. Is a recession coming.
Speaker 4: I've been saying this the last two year.
Speaker 5: Yes, even was on Brukast Club, I predicted twenty four
Speaker 5: to twenty five we would get into recession.
Speaker 3: So we're going so all right, So the recession is
Speaker 3: coming this year, next year.
Speaker 5: I think if Queen Kamama gets in, you can damn
Speaker 5: it guarantee February we hit.
Speaker 4: We're recession.
Speaker 2: We're hit a recession.
Speaker 1: What about your idea of the soft landing, because it's
Speaker 1: felt up until his point, up until mid July, I
Speaker 1: mean the nastac was at all time high, be all
Speaker 1: time high, doubt, all time high. I think July temper
Speaker 1: hit that mark. Valuations through the roof, multiples through the
Speaker 1: roof that has pulled back. Now is the theory of
Speaker 1: soft landing. Are you still opposed to it?
Speaker 5: We want truth to truth. Uh truth, soft landing was
Speaker 5: some bullshit from the very beginner. That's another phrase for
Speaker 5: market manipulation. So if you got in and you priced
Speaker 5: it in great, okay. I asked both of you take
Speaker 5: me out of the equation if you never met me.
Speaker 5: Off the top of your head, if your entire life
Speaker 5: savings had to go into four companies, what four would
Speaker 5: you pick?
Speaker 4: After it takes that long, I got in trouble and
Speaker 4: go ahead.
Speaker 2: I got. I mean it's for but it's probably obvious.
Speaker 4: For like Apple, Microsoft.
Speaker 2: I've taken video in Amazon.
Speaker 4: Now rashad as an advisor.
Speaker 5: If I told you eight years ago nobody said bonds,
Speaker 5: you would say I was a scam artist, right, A.
Speaker 4: Fucking bond market collapse and the yen collapsed and no,
Speaker 4: Everyone's like, no, it's fine.
Speaker 5: The junis riv Ai is going to bring the market
Speaker 5: what okay? Okay, I knew what everybody thought. I was
Speaker 5: crazy for one oh seven. I'm like, man, if I
Speaker 5: tell you why this shit can really go and how
Speaker 5: much of the rest of the market has support, it's scary.
Speaker 5: I think a lot of black people are already in
Speaker 5: recession anyway. A lot of men sized businesses are in
Speaker 5: like recession anyway.
Speaker 3: But I want to ask, how would this really affect
Speaker 3: because yeah, I mean the consumer sentiment is already recession,
Speaker 3: so a recession. How how bad would it get if
Speaker 3: technically people are already in recession?
Speaker 5: I mean, if I think if they only show the
Speaker 5: truth and tell how even with the jobs report, I'm like,
Speaker 5: I don't think that's the real because if we take
Speaker 5: the government jobs out of it, how many jobs are we.
Speaker 4: Net positive.
Speaker 2: Destiny?
Speaker 4: I want to see. Now that's the part that's really tough.
Speaker 5: Now, if you take out the jobs to pay twenty
Speaker 5: five hours twenty five dollars per hour unless and government jobs,
Speaker 5: like what is the net? If you look at Silicon Valley,
Speaker 5: they've been on a freeze. We all know people that
Speaker 5: meta like they weren't hiring, like how they were two
Speaker 5: years ago and they were slashing fucking jobs like crazy
Speaker 5: to you, like, this is real and I'm not trying
Speaker 5: to be doom and gloom, but as an investor, you
Speaker 5: have to be honest. Like California is in a complete
Speaker 5: a state is in decline, got border issues, Chicago trouble.
Speaker 5: Like even when I was there was aying to visit
Speaker 5: the family. I'm like, some landmarks that were incredibly popular
Speaker 5: five years ago are not there or thriving.
Speaker 1: But aren't I mean they've tried their best. If anything,
Speaker 1: they've tried their best to make this as off as possible.
Speaker 1: Pause when you think about it, and this is the
Speaker 1: unfortunate part of interest rates, right, Like people are going
Speaker 1: to lose jobs, right, we have to have people lose
Speaker 1: jobs in order to bring that rate down.
Speaker 5: Were they over hire during at the beginning of the
Speaker 5: pandemic twenty were at zero?
Speaker 2: Right?
Speaker 1: So the non the non farm jobs have come down, right,
Speaker 1: that would be a positive sign, right, right, Inflation has
Speaker 1: come down. So like these these things, whether they've been
Speaker 1: manufactured or not. I mean, we'd have to be like
Speaker 1: an expert economist to actually follow those numbers like stridently.
Speaker 1: But isn't that Like this is part of the hardship
Speaker 1: that comes with if we want a half percent or
Speaker 1: a quarter percent in September, like, these things have to happen.
Speaker 1: I feel like this is the natural course if we
Speaker 1: want rates to come down.
Speaker 2: No, very true.
Speaker 5: But also when they hire at the rate of three
Speaker 5: x because the interest rate was zero. When when does
Speaker 5: venture capital and angel investors get the blame for causing
Speaker 5: this mass introduction of all these jobs that were not needed.
Speaker 4: Private equity is.
Speaker 5: Going through a whole shit show that no one will
Speaker 5: wants to talk about. And we gotta tell the truth.
Speaker 5: They over hired. And if the entire American economy is
Speaker 5: tied to janitor of AI, that can make a dog's
Speaker 5: ear bigger.
Speaker 4: We are fucked.
Speaker 2: Shady.
Speaker 4: What three companies right now?
Speaker 5: If your entire life, savings and brain was on the line,
Speaker 5: that you put your money into Microsoft and investment, invest
Speaker 5: up and I will play two more.
Speaker 4: What's up?
Speaker 5: We're talking today? But out of that, notice all the
Speaker 5: companies we're not mentioning.
Speaker 2: We I mean, we gave thirty the other day.
Speaker 3: I do want to say, I'm glad you said that,
Speaker 3: because I want to get your perspective.
Speaker 2: You gotta give us two.
Speaker 4: I think it was a rhetorical I think it was rhetorical. Well,
Speaker 4: I thought it was not literal.
Speaker 2: That you can't give us two.
Speaker 4: I gave you Microsoft already. What's up?
Speaker 3: You got to I mean, of course you're gonna go
Speaker 3: Microsoft off.
Speaker 4: That's the number one draft pick.
Speaker 2: Stacy.
Speaker 5: Microsoft is our bond market for shot up. I'll told
Speaker 5: you in two thousand and nine, Microsoft will be our
Speaker 5: bond market. You would say I was crazy, right, No
Speaker 5: single equity should be the most stable thing in our market.
Speaker 2: That's fair.
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