Stock Market Analysis Even Though We're Closed

[00:00:00] Speaker 1: What's going on, everybody? Just because it's a holiday and the markets are closed does not mean that we take the day off. Yes, I moved it from 11.45 to 12. I thought I would have enough time to finish my research. Again, I needed that extra 15 minutes. I apologize, okay? I apologize. All right, before we get started, read the disclaimer. I'm not a financial advisor. I am definitely not your financial advisor. Please do your own due diligence and also, and also, remember, this is for entertainment and educational purposes only. With that being said, we are live. Thank you, everybody, for being here. Really appreciate it. Star, what's going on? Venom, Tang, Shells. You're at the amusement park. Look at you. Look at you. Lean is here. PwC is here. Jackson is here. Thank you, everybody. Really appreciate it. Gonzo, what's going on? Tom Beneficial is here. Heinz. Ray. Ray, it is a Friday. I would like to know if you have any delicious treats. I just want to know. Livia, thank you for being here. All right, everyone. That's so awesome. You're getting your steps in, Jordan. That's great. That is phenomenal. Well, the markets are closed, and we have so much to go over. We just have a lot to go over. First, I want to look at the oil markets before we do anything. Oh, and by the way, let's back it up for a sec. Let's have just a tad bit of fun before we get serious, talk about oil, talk about the Fed, go over what's actually happening in the straight of our moves. And that's what I was researching, is there was a lot of reports out there. You know, I did a ton of research and put together what I think is actually happening. But before we do that, I want everybody's opinion. In all seriousness, is this not a great thumbnail for the second annual stock draft? I think this came out awesome. I think this really came out good. I don't know. I think, I don't know that I could have made one better. It is up. It is tomorrow night at 9 p.m. I've already scheduled it. Looks like AI slop. Well, that's because I used AI to make it. And I put all six of our pictures in. I toggled around with it. I am not a graphic designer. Not a graphic designer. Three on three. It's pretty funny. Three on three. I know. I think it came out good. Anyway, tomorrow night, can Amit run it back? Can he win two times in a row? I think that's what everybody wants to know. And we're going to find out. There is going to be new rules, which I will go over tomorrow night. We'll go from there. Right now, okay, this is what is happening. WTI is at 7649. There's a lot of reports that the deal is done, et cetera, et cetera, et cetera. AI wants to take the mustache away. I don't have a picture of him with the mustache. Otherwise, it would have been there. I don't think that you should put your money on me. I'm going to say something. My portfolio is not going to be what everybody thinks. I am probably going to go in a different direction this year. I have a different strategy where I'm going to try to go 12 for 12 on appreciation and probably not take big swings. I think that this is going to be a difficult investing year. And some of the companies I'm going to take, I think a lot of you would never invest in. So you're going to have to wait tomorrow to see what I'm buying or not buying, but putting in the portfolio. But you know what? I've been saying a lot of companies over the past week just to screw with my competitors. I don't think I'm going to go in that direction. Now, there are some that I do want. Yeah, I want NVIDIA. Yeah, I want Broadcom. Yes, Microsoft, Meta. I want those. But you're going to be surprised with some of the picks I take. You're going to be surprised. So have a day off. There are no days off. There's no days off. There's always things to learn. There's always things to read. There's always data to crunch. There's always data to crunch. There's always investments to think about. And you know what? I listen to something. I'm going to promote something right now. I don't usually promote anybody's stuff except if it's Tanner, Mitt, Matt, Chris, one of the boys. Right? I rarely talk about. Obviously, I talk about Olin and The Comp. I mean, those are my two favorite shows on YouTube. I listened to a podcast today. This morning. That was great. Now, I don't agree with a lot of things that were said. But it made me think about things and challenged the way that I think. And I like doing that because I don't want to be in an echo chamber. I like – and look, one of the reasons why I talk with Chris so much is because he has a – even though him and I look at value very similarly, he tends to take the opposite side of a lot of things that I like. And I happen to like that because I get to have a real good conversation. So what I – where the hell did it go? I got to go to my history. Give me one sec. There's a gentleman named Larry McDonald. I had no idea who this guy was. And the show is in the money. I thought this was an excellent, excellent interview about why he's buying commodities and thinks NVIDIA is the dumbest trade. So I don't agree that NVIDIA is the dumbest trade. But, but, I did appreciate his take because I think he has a lot of things right. But I think that there are two truths and an even ground to everything. And I think you can be long a pipeline like Energy Transfer and be long NVIDIA. I think you can be long both. But, his views on commodities are very interesting. I think all of you know that I have a view on energy infrastructure and commodities. And I don't believe that money has to roll out of AI infrastructure for those to run. I think that both can do well at the same time. But, it was interesting to hear his views. So, at some point, it was a good interview. In the money was the show. And it came out yesterday with Larry McDonald. And the title of it is, SpaceX could crash the market. Why he's buying commodities instead. So, we'll plug. I don't know this person, but I thought it was a very good interview. So, when I find things like that, I am happy to share with all of you. Because, I think it's important to really look at the other side of things a lot. Because, look, I'm not always right. And, I do like having other viewpoints. So, here's where. Let's get into what's happening right now that's getting everybody spooked. And, I guess, thankfully, the markets aren't open right now. So, there was. It's no longer on the homepage. So, give me a moment. Oh, my God. Okay. This is what I want to bring up. Let's do that. Take two. Dose. Take two. The Strait of Removes traffic stalls as U.S.-Iran talks collapse. This came out at 9-12 this morning. Okay. 6-19, 9-12 this morning. A day after a rush to exit the Strait of Removes started, tanker traffic at the choke point is dwindling again as shippers pull back from intermediate passage amid the collapsed U.S.-Iran talks before they even began. On Friday morning, no tanker was observed to have moved outbound from the Persian Gulf through the Strait of Removes, according to vessel tracking data complied by Bloomberg. Donald Trump said, Inbound into the Gulf, one Norway-flagged products tanker and one Iran-linked LPG carrier made the crossing on Friday, according to observable data for tankers that haven't gone dark. The thin Friday traffic compares to dozens of vessels that left the Gulf outbound from the Strait of Removes on Thursday, which marked the reopening of the choke point. A total of 18 transits were recorded across the June 17th to 18th window, the highest single window count of the conflict. According to the data from maritime intelligence firm Windward, Chinese-affiliated, Chinese-linked, European, Japanese, and Saudi tonnage were among the early departures, etc., etc., etc. So basically, they are saying the U.S.-Iran deal is shaky, it's collapsed, nothing's going through. So I spent several hours looking into this, okay? So if you only read the headline section, I mean, it looks scary. Talks collapsed. I think it's overselling it. The Switzerland talks were postponed before they even started, not killed. And that's the research that I found. So this is all what I was doing this morning. I also shot a video that will be out later. But the White House polled VP Vance's trip, citing logistics. And the Wire reporting ties to the delay of fresh Israel-Hezbollah fighting in Lebanon, plus Iran's demand for guarantees that those hostilities end. Pakistan is still mediating the U.S.-Iran track, and mediators are working on it. This looks like a stumble at the starting line, not a dead deal, by any means. I have not seen anything from either side that says that this is off. The maritime track and the diplomatic track, they partly decloppeled. Even as talks slipped, Iran held its fire on shipping for a second straight night. That's huge. And Vance said more than 12 million barrels crossed overnight. The deal's core mechanics, Iran reopening the Strait of Bermuda's and the U.S. lifting its naval blockade, are still moving forward. Now, we don't have any definitive answers. Okay? But if that's true, that more than 12 million barrels crossed overnight, and there's no firing on ships, I don't think that this is something that is dead in the water. Now, the traffic's stalling out. It's caution, not a reclosure. There's a record 18 transits across June 17th and 18th. Friday did go quiet. No outbound tankers moving. Shippers are sitting on their hands to see if the diplomatic wobble turns into something worse. But you know what? Oil is still in the mid-70s right now. And an open straight is not yet a normal straight. And the central channel is still, look, it's a little shaky, but as long as they're not firing and the blockade is lifted, I don't think that I'm that worried. Because it only reopened yesterday. We don't have a ton of data. I mean, when we're logged 18 transits across that window, it's the highest single window count of the entire conflict. So let's start there. We had a standstill for months and we just got 18 transits without anybody being fired upon. To me, that tells me that maybe Iran can actually get control of all different tribes. Now, you had three Saudi flag super tankers carrying roughly 6 million barrels and a dozen of the vessels left the Gulf outbound. 80 million barrels accrued are lined up to exit. Now, Vice President Vance struck an optimistic note saying that more than 12 million barrels have crossed. So, I don't know. Was there a stall? Yeah, it looks like it. Bloomberg's vessel tracking. There's no reason not to believe that. It's showing no tankers are moving. And the trigger is the diplomatic side. The talks were set to start today in Switzerland under the 60-day Miranda of Understanding clock. And it was postponed, not killed. Switzerland's foreign ministry confirmed they wouldn't proceed as planned. And the White House said Vance is no longer traveling, citing unresolved logistics around negotiations. Now, Trump took a combative tone on Truth Social, framing Iran as having come to the table out of desperation, saying the two sides will play out the next 60 days, and Tehran gets no money. So, is it a collapse or a postponement? That's the crux. I think that this is a postponement. I really do. I mean, there's nothing to make me believe that we are going back to all-out closure. I think that for the Iranian economy, which is critical to oil, okay? Critical to oil. Wait, hold on. Steve is only fooling himself not me. Congress will not approve the U.S. paying reparations. When did I ever say that the U.S. was going to pay reparations? Has that ever come out of my mouth? No. I mean, I don't know where you got that. All I said is what Trump put on Truth Social. That's all I put. So, I think that they're going to get a handle on Netanyahu, and I think that this is postponed. Now, if we had oil shooting up to 85 or 90, I think the oil markets would be a lot more scared. Oil being where it is now, I think we're going to be okay. 76 is not bad. And there's all different types of reports coming out. This is what I was able to find. I wonder if Cactus Jack has anything new since I last looked. All right, so not too long ago, U.S. intelligence warns Israel likely to undermine the Iran deal. The new U.S. intelligence report concludes that in the face of national elections this fall, Netanyahu's political survival is linked to showing his domestic audience that he will not withdraw troops from Lebanon and that he is intent on escalating the fighting with Hezbollah, said one U.S. official familiar with the report. The official, like others interviewed, spoke on the condition. Let's see. The U.S. intelligence report also describes Israel's frustration with the terms of the Trump peace random of understanding, which undermines its broader objective of maintaining maximum pressure on Tehran, according to a current and former official. Don't be surprised. We have a three-day weekend. This is the very early stages of this. I would think there's going to be a lot of talks this weekend. And at some point, President Trump is going to have to make a decision. Israel is a United States ally. But President Trump, he has his back against the wall. He's going to need to rein in Netanyahu and get the fighting with Lebanon to stop, or he's going to have to not support them anymore. I don't think that he can play both sides. I just don't. So we'll see. We will see what happens. I think that Trump understands the midterms here are not going to go well if this is not cleaned up soon. The one thing that should worry him, okay, the summer driving season is going to be upon us. Fourth of July weekend is coming up in three weeks. And we are at a point where if, for some reason, the strait remains closed and this gets worse, oil will go to 125 to 150. I don't think that he's going to allow that to happen. He's going to have to make some type of agreement with Netanyahu and Israel to get them to back off. It is in not just economically, but for survival of political officials, they have to get this done. Now, for the economy, global economy, domestic economy, this needs to be resolved months ago. Not today, not tomorrow. This needs to be resolved months ago. We need the price of oil down. Everything revolves around oil. And I think that these headlines are probably overblowing a few things. I want to see actually real data around it. And we'll see. We will see. Yeah, I mean, look, I'm not going to. I care about the oil markets. I'm not taking a political stance, everybody. I'm just calling it how I see it. Oil is down to 76. It was at 115 to 120. If the oil markets were really spooked, it would have been significantly higher. So anyway, I am starting to look at new opportunities. So regardless if this is finished this weekend, over the next month, we need to think about the next five to 10 years. And while I still believe the AI trade is going to do very well, I do think it's interesting that NVIDIA and some other companies have not been able to break out off of the greatest earnings we've ever seen. I've had a thesis. I've had a thesis that I'm going to expand. My thesis is that energy infrastructure companies will do well, but I'm going to go a step further down the line to commodities. And partly because of what was said on that podcast I told everybody about. And Chris and I had looked into copper a couple months ago. But after really listening to the other side of this argument, where it's commodities versus AI, and I think about the amount of robots that we're going to need, the amount of data centers that we're building over the next 10 years, and then doing some research on copper mines. I do think copper and uranium are going to be hard assets that become more valuable over the next five to 10 years. And I am not going to be able to time it, but I am looking at where to put money as an indirect play. Because with the amount of capex that I think is going to be spent, and this is not just AI, if we do believe that Tesla is going to create a lot of Optimus robots, Figur, Aptronic, all these robot companies, you need a tremendous amount of copper, aluminum, tremendous amount. And I think that there's some good companies that are trading at low valuations, and maybe these companies become a bigger part of the indexes. And I'm not at a point where I have my favorites yet, but I'm starting to get there. I'm starting to get there. I don't think that this is something that is early, late. I think that the commodity trade is going to be a 10-year trade, at least. So, we'll see. Do I have any short-term trades running? Not many. Really, just one Reddit. I don't really do short-term trades. Probably getting out of it this week. Addicted to trading bought copper months ago. I think copper is going to do well. Am I looking at USAR for magnet manufacturing? I am not. I have free ports on my list of things. I have a couple of them that I'm looking at. Like Rio Tinto. That's always been something that was interesting. There's a few. I think uranium and, you know, the more I wanted to really go down the rabbit hole of SMRs, I don't know that SMRs are the way to go. I actually think maybe the uranium companies are the way to go. I really do. Adobe scares me. Adobe scares the hell out of me. We will... I'm not going to talk about Adobe. Amin and I... It will be on basis points tonight. We discussed it. So, I really keep that one for later tonight. I did not see the FERC ruling. What was it? I am still S&P 8,000. Yes, I'm not pulling it. I am not pulling it. I think QXO is interesting going forward. Look, QXO is a rate play. Everybody needs to understand that. QXO is absolutely a rate play. LEU, huh? I will put that on the list and look at it. Microsoft is a gift. I mean, it absolutely is. But at the same time, the market is, you know, the market is doing something different than what we were like with good old Microsoft. I want to show you guys something that I made. So, let me know what you think about this. Because I think that this is something that not everybody is connecting. And I think it's an important aspect to look at. So, I did shoot a video this morning. This is one of the slides in it. The video will be out, I think, 3 o'clock. I'm not sure when I'm putting it out. 2.30, 3 o'clock. And I do believe there's a power access at the top of U.S. economic policy. And somebody who's not talking about it enough, I think, is at the center of it. Stanley Drunkenmiller. And he's one of the greatest macro investors who's ever lived. Roughly 30% return a year for decades with no down years. And he mentored both Kevin Warsh, obviously, new Fed chair, who has been a partner at Drunkenmiller's family office since 2011. And that's a relationship that was described almost as father and son. And they reportedly text a dozen times a day. And then there's Scott Bessent, the Treasury Secretary. He was hired by Drunkenmiller at the Quantum Fund more than 30 years ago. I think it's very interesting that the Fed chair and the Treasury Secretary both came up under the same mentor. And they share the same worldview. And the Financial Times actually said that Warsh and percent embody the way Drunkenmiller interprets markets and economic policy. And they believe we're ending a 15-year experiment in quantitative easing that produced an economy rich in assets but poor in income. And in its place, they want a supplied side regime built on productive capital, not policy-driven multiple expansion. Bessent is the financial counterpart and he's framed by the 3-3-3 plan, 3% growth, 3% deficit, and 3 million extra barrels of oil a day. And look, Drunkenmiller's been making big bets on AI infrastructure. He actually sold Alphabet and rotated money into AI hardware in Q1. New positions in Broadcom, Intel, and ARM. His philosophy has been invest, then investigate. He's bullish AI, bearish the dollar. Bessent has said that rate cuts are the only ingredient missing for a stronger economy. And firm capital spending already grew about 17% annualized in Q1. Warsh, as we saw from the FOMC meeting, sees AI as American ingenuity, a supply-side force that lifts productivity and tempers inflation, which is exactly why I believe that he thinks you can have growth and low inflation together. I think this is three minds, one direction, pro-growth. My own opinion, more on that in the video. That's going to come out later. I think that we are bullish. I did see Tom Lee discussing a few things. I think we're S&P 8,000 this year. There is nothing that I am seeing that's making me change my mind on that. Absolutely nothing. Absolutely nothing. So let's look at where we fell on the markets this week. And then there were a few things I wanted to take a look at. So let's actually, we're going to go to extended. Let's see where everything wasn't extended. Micron, 1151. Sandus, 2209. Marvell, 313. Next decade, 741. I actually think we're going to get a better opportunity. On next. Look, we're going to listen to what Tom Lee said, and then I'm going to react to it. Enbridge, 55. I like Enbridge. TKO, 199. I happen to like TKO. Obviously, I like Zeta, 19. CRM, 152.30. I think that's criminal. Moet, 70. Venture Global, 11. Verizon, 45, 49. MasterCard, 490. JP Morgan, 325. IBM, 250. Qualcomm, 226. Chevron, 174. Palantir is interesting. I think you're going to be shocked that I'm starting to get bullish Palantir. 128.66. I'm going to show you why in a moment. I'm getting bullish Palantir. Palantir, I would say, was so overvalued at 180 and 200. I don't think it's looking that crazy anymore, ladies and gentlemen. ServiceNow, 95. Adobe, 195. Costco, 951. Taiwan, semiconductor. 462. Hood, 108. A lot of you earned a congratulations. Then we got the losers. We're going to go with the biggest losers. SpaceX was down to 170. It finished at 185 and in the after hours, 180, 169. I think that's bullish. I may hate the valuation, but I think that's bullish that SpaceX is able to hold that valuation. I got to call a spade to spade. Amazon, 243. Reddit, 173.84. I'm still a shareholder. I'm either selling on Monday or I'm writing another covered call. I haven't decided what I'm doing yet. Stock's very volatile. There are other things I want to use. Actually, do I still have my math up? I do. Okay. I think I'm up about 19 or 20% on it since May 4th. Done pretty good. And I think I'm going to take the profit and run into something else. I'm not really a swing trader or a short-term trader. I'm just playing around with that. See what happens. Alphabet, 368. Nebius, 286. I mean, these are great companies. Meadow, 574, I think, is undervalued. Oracle, 183 is undervalued, in my opinion. CoreWeave, 117. You can't complain. NVIDIA, 210 is insane. It's insane. And I know there's a lot of people thinking that because of its size, it can't move and run away because everybody's bullish. I don't agree with that. The fundamentals are so damn good on NVIDIA. It's hard for me to really think about that in that light. Microsoft being under 400 is crazy. Microsoft being under 500 is crazy. Crazy. Now, I know a lot of people are saying free cash flow. We need buybacks, et cetera, et cetera, et cetera. I get it. I do get it. But I think that if you're going to play the long game, these companies are going to do very well. Let's pull up that very specific video. Where is it? Mr. Tom Lee. Where is it? I could have swore that it was on CNBC. Was it not? Yeah, it was on closing bell. Okay. Here we go. [00:35:09] Speaker 2: Now, it's good to have you on our program today. Tell our producers, investors overreacted to the Fed meeting. It seems to be the consensus, the growing consensus that that was what happened yesterday. Why do you think that? [00:35:33] Speaker 3: Hi, Scott. Kevin Warsh has a very different communication style, and he plans to kind of modernize how the Fed monitors data. So I think the markets took the removal of that Ford guidance and even looking at those dot plots as a hawkish pivot. But I think instead, I think it's a Kevin Warsh that's saying, listen, I'm going to be using modern data, real-time alternative data to understand what's going on with inflation. And at this moment, we have no conviction. So to me, I think it's actually a very markets-friendly view. I think the homework now is for investors to understand that if data changes, those dots are going to move pretty quickly. So I think overall, it's actually quite a dovish meeting. [00:36:16] Speaker 2: So 7,500 is where we sit right now on the S&P. Been looking for a few different scenarios to play out in the market between now and the remainder of the year. If you think that yesterday was dovish, and a lot of other people thought it was hawkish, and you came into yesterday thinking that we were going to have some moment where the market was going to have a correction of some magnitude, have you changed that view? [00:36:43] Speaker 3: Scott, we still believe later this year there is going to be an abrupt change of market conditions, one that feels very much like a bear market. But we don't want to stand and call a top. I think conditions are still favorable for stocks. You know, the SpaceX IPO was very successful. And as you know, there's been a cadence of pretty good news coming out of that company. And it is a very small float company with only $90 billion afloat. And I think Kevin Warsh, his view, this was actually kind of a market reaction to his first press conference. But I think that the real challenge is going to come later this year. So I think, yes, very much there is going to be a change in market tone. But I think it's too early for people to expect that to happen now. [00:37:33] Speaker 2: But when you say there's going to be a, quote, abrupt change of market conditions, you can't make a statement like that without telling me why you think that. What's going to happen? [00:37:45] Speaker 3: Well, I think that there are, sorry, let's say we can see with pretty good visibility three things happening. You know, one is that we know markets eventually test, especially if a Fed that's redoing the, you know, framework with five task forces. I think that's in 2026. The second is that the IPO of SpaceX, today there's very little float, but that's going to unlock later this year in phases along with the IPO of Anthropic and OpenAI. And the third is that because of just the disruptions we've experienced so far in the Straits of Hormuz, there is in the supply chain coming shortages. Those are actually the preconditions. I think the fourth catalyst is that speculative firepower runs out. That will happen when some things like margin debt, you know, experience levels that are associated with short-term corrections or it could be that you could see a lot of cash move out of the sidelines. But I don't have any sense that investors are that bullish yet. So to me, I don't think that fourth piece is in place yet. All right. Good stuff. [00:38:53] Speaker 2: Tom, talk to you soon. Thank you. Fun strats. Tom Lee. [00:39:00] Speaker 1: I mean, he didn't give you a lot. He did not give you a lot. And I go back to this. If we didn't get a bear market out of oil going to 115, what the hell has to happen? And addicted to trading. Thank you so much. I appreciate it. Thank you. I don't know. I think it's going to be wrong. What has to happen? Yes. We can get a 5% or 10% drawdown. That would be normal. That would be normal. Okay. A 5% or 10% drawdown would be normal and nothing to be worried about. I don't think we get a bear market unless we get a recession at this point. Now, I could be wrong about that. But I don't think I am. I really don't think I am. G money. Thank you so much. I really appreciate it. Thank you. It was yesterday. Thank you so much. Appreciate it. You did not have to do that. It's greatly appreciated. When I look at SPY, we look at over the past year, we've had dips. Look at the past five. We've had big dips. This is nothing to be worried about. And it goes back to mindset. If you are an investor that plays individual equities, what is happening in the economy impacts much more your positions. If you're an index investor, it doesn't have that huge of an impact. It impacts it, but not the rate of individual equities. I mean, you look at the past 10 years. If I told you 10 years ago that we were going to experience a pandemic where the world shuts down, a blow up in growth where from the end of 2021, it took you until January 2024, so roughly two years to get back to where we were. We would have a 50% drawdown in companies like Amazon, we'd have a changing of the guard, and then liberation day where we had a bear market, and then an oil crisis with Iran where oil went to 115. And I said, you're going to experience a lot of pain throughout this, and moving in and out, you may not be able to time it right, but if you just put in an S&P index fund, you're going to do 267%. I mean, that's a 26.76% average annual return. Who wouldn't do that? Who would not do that? So, can we go down? Yeah, we're going to go down. At some point, we're going to go down. The markets never go straight up. We get really big dips that are violent, and then they come back. We've had periods where it goes sideways for a while. But the trend is up and to the right. And I think moving in and out of companies is very difficult to do. I think time in the market is very difficult to do. But if you're an index investor, I think you can just chill. I really do. You always, you should always, look, Josh Brown said it the best. You should want the market to go down so you can buy more. I mean, if you're not retiring tomorrow, you should want a better entry point. Now, look, individual stocks is much different. There's so many other factors that impact the decisions with picking individual stocks. Pedro, thank you so much. I really appreciate it. Truly, truly appreciate it. Oh, Matt Money is here. Matt, are you working? Are you off today, Matt? Is this what I'm hearing, that Matt Money may be off? He's lurking in the chat? I don't know, Matt. You have a little text message in WhatsApp if you want to come on and hang out. When I look at this, I am not worried about what Tom Lee said because I'm not going to take a 5% or 10% downturn as us going off the rails. I'm going to take that as a healthy dip. I think we get to 8,000. I don't think there's any reason why we can't get to 8,000, especially if oil stays where it is. Now, if oil goes back to over 100, I think that's a much different story. Matty. [00:44:14] Speaker 4: What's up? Steven. [00:44:16] Speaker 1: Where are you? [00:44:18] Speaker 4: I'm at home. [00:44:19] Speaker 1: Okay. You're not in your normal office? [00:44:21] Speaker 4: Not in the normal office. Am I working? Yes, I am working. I'm working to get that shirt off you. [00:44:29] Speaker 1: Damn. Damn. [00:44:31] Speaker 4: Why? When basis points episode? 5 o'clock, 6 o'clock? You're not going to help the people? [00:44:42] Speaker 1: What do you mean? [00:44:43] Speaker 4: I've been staring at my monitor all day. This is the best thing that's happened to me is seeing you on. [00:44:50] Speaker 1: Did you see the thumbnail I made for tomorrow night? No. No, you didn't? No, let's get a live reaction. Oh, my God. Hold on. I'm bringing it up right now. [00:45:01] Speaker 4: But while you're doing that, I was like, oh, it's not going to be on. I'm like, maybe, maybe they'll release basis points early because they love us and they want to help the people. But no, you're going to make us wait all damn day. Oh, my God. That's fire. It came out good, right? Dude, everyone's looking good. Except for me. My face is a little distorted, but. [00:45:30] Speaker 1: What are you talking about? [00:45:32] Speaker 4: God, look at that glorious man in the upper right-hand corner. [00:45:36] Speaker 1: I mean, Chris Patel looks like a billionaire in this. [00:45:39] Speaker 4: Chris Patel is a billionaire. Did you tell the people about your evening and last night? [00:45:45] Speaker 1: What do you mean? [00:45:48] Speaker 4: You went on night on the town. [00:45:51] Speaker 1: I don't know if going to go get a porterhouse is a night on the town. [00:45:59] Speaker 4: Don't be coy with me. [00:46:01] Speaker 1: After we shot basis points, we went to Wolfgang's. [00:46:04] Speaker 4: Did you already talk about this? No. Give us the bite by bite. I mean, why are you holding them out? Sorry, everyone. If you wanted stocks, I haven't talked to Steve today, so we're catching up. [00:46:14] Speaker 1: We can take a little detour. Wolfgang's, it's on Park. They have four locations in the city. I still think the one by the Times building is the best one. I've been to all of them now. I've actually never been to this one on Park. It was good. I don't know that I go back. [00:46:32] Speaker 4: You haven't been to that one? That's not too far from your offices now. [00:46:36] Speaker 1: No, I haven't. I normally, the one over by the Times Center I really like. The one in the village I thought was actually, it was so damn noisy in there. You could barely hear each other. Yeah, that's not fun. I hate that. It's so noisy. [00:46:51] Speaker 4: I mean, I went out last night, but it was at a Mexican restaurant for the game, and of course it was noisy. I couldn't hear a damn thing, but that was expected, so. [00:47:00] Speaker 1: So we got shrimp cocktail, the porterhouse for two medium rare. [00:47:07] Speaker 4: You didn't have any shrimp, though. [00:47:10] Speaker 1: What? [00:47:11] Speaker 4: You didn't have any shrimp, though. [00:47:12] Speaker 1: Yeah, I did. I love shrimp. [00:47:15] Speaker 4: What? The shadow government told me that you don't like seafood. [00:47:19] Speaker 1: Shrimp is different. Shrimp is good. [00:47:22] Speaker 4: Shrimp is delicious. How did I know? Okay. All right. We're finding more about each other, Stephen. [00:47:27] Speaker 1: So shrimp cocktail, porterhouse for two medium rare, garlic mashed, the lobster mac and cheese, a couple of Cokes. I would have got a bottle of wine, but I was driving, so I didn't. [00:47:43] Speaker 4: Responsible. [00:47:44] Speaker 1: Yep. Can't. No, I don't condone. [00:47:46] Speaker 4: That sounds like a night. It would be great if you had a bottle of wine, though. [00:47:49] Speaker 1: Yeah. I look. I don't condone drinking and driving. [00:47:51] Speaker 4: No, I hear you. [00:47:52] Speaker 1: I don't care if you have one drink or not. You should not get behind a wheel. I do not condone it, so no. As much as I would have liked to have a glass of wine with a porterhouse, I do not condone drinking and driving, so. [00:48:05] Speaker 4: And Stephen refuses to get a taxi or Uber when he drives around. [00:48:09] Speaker 1: And we didn't get dessert. We didn't want dessert, so. [00:48:14] Speaker 4: You didn't want dessert, or you just didn't? [00:48:16] Speaker 1: No, we were stuffed. [00:48:18] Speaker 4: Yeah. [00:48:18] Speaker ?: Okay. [00:48:19] Speaker 4: But you wanted it. [00:48:21] Speaker 1: No, I actually didn't. [00:48:23] Speaker 4: Don't lie to me, Stephen. What did you want? What was all I was talking about? I didn't. I'm upset because I really wanted dessert last night, and I didn't get it. And then I resisted, and I'm still, I haven't eaten today, so. [00:48:39] Speaker 1: But anyway. Yeah, so it was good. I mean, I don't know that I'd go back to that one. It was good. It was just, I don't know. [00:48:51] Speaker 4: Compared to the other ones, they're less noisy, more noisy? [00:48:54] Speaker 1: No, I don't know. I just, I think that the chef at the one at the Times Center prepares the steaks a little differently. I think they're more seasoned. [00:49:06] Speaker 4: I like a good seasoned steak. I can never get a good, I don't know. Like, I'll just admit, there's many flaws that I have, but one of my biggest ones that I'm really upset about, like, normally I could accept them. Like, I don't cook a bad steak, but like, if you go to a good steakhouse, like, I can't replicate that. I don't know what it is. It's probably just the salt that they use, but. [00:49:28] Speaker 1: Well, let me ask you this. Are you reverse searing? Yeah, I've done that a few times. Okay. Are you basting in garlic butter? No, I don't do that. Well, that, but that's why. I mean, a lot of the steakhouses cook with a lot of butter. [00:49:42] Speaker 4: Yeah, I don't really do that. [00:49:43] Speaker 1: So if you're not doing the reverse sear and basting with garlic butter, it's going to be very hard to get that steakhouse vibe with it. [00:49:53] Speaker 4: Okay. Yeah, you're probably right. [00:49:56] Speaker 1: So. [00:49:57] Speaker 4: I have, I, I, for a long time I was, um, when my smoker was working, I have to, I have to get the electrical looked at on it, but I was doing a smoked steak, which wasn't too bad. I still would recommend the, the, uh, the sear on it, but. [00:50:13] Speaker 1: It does not suck. So you ready for tomorrow night? [00:50:19] Speaker 4: Ready? I don't know. How many stock? I have a question. Um, how many stocks do you have in preparation? I'm up to like 15 or 16 in case people still start stealing stuff. [00:50:30] Speaker 1: Six of my stocks, nobody's taken. So it don't matter. [00:50:32] Speaker 4: Steven, don't do that. [00:50:34] Speaker 1: I'm telling you, I've been faking all. I've been, I've been, I'm a liar. I've been. [00:50:38] Speaker 4: Well, I mean, that, that, that's been the case since I've met you. [00:50:41] Speaker 1: I've been feeding you guys bad information. What? I don't know if you're trolling. No, I'm serious. I, I've been talking a lot of shit. I've been feeding you guys bad information about what I'm taking just to throw you guys off the trail. What I take tomorrow night, you guys be like, what the hell did you just do? [00:51:03] Speaker 4: So I'm not going to ask you what, what they are, but you can ask what they are. [00:51:07] Speaker 1: I'm just not going to talk. [00:51:08] Speaker 4: Are you going for home runs? [00:51:12] Speaker 1: Oh, look at this guy. [00:51:14] Speaker 5: Are you going for like slow and steady? Oh, there he is. [00:51:18] Speaker 1: Chris, I'll send you a link if you want one. [00:51:23] Speaker 5: Oh, hot Chris, man. [00:51:26] Speaker 1: Oh boy. [00:51:27] Speaker 5: So are we going for light, light, like a slow and steady wins the race or this is where I'm [00:51:34] Speaker 1: at. There are some companies I'm absolutely going to try to take. There's no question about that. Six of the companies in my portfolio are going to be shit that you guys would never take. The only person that would even dare think about it would be Chris. I don't even think he's going to go as far as I'm going to go. So my goal is to go 12 for 12 and not have a single company in the red. And you can't do that going for all home runs. [00:52:04] Speaker 4: I mean, based on our cash flow chronicles. Sorry, my necklace is turned around. Based on our cash flow chronicles on Wednesday, Chris is going full port Comcast. [00:52:14] Speaker 1: I think if Chris says Comcast and charter, he'll do okay. [00:52:20] Speaker 4: Are you thinking with these rate cycles, like things are going to change or? [00:52:25] Speaker 1: I think that I can't time everything right. And there are companies that I just think are not going down further. And I think that there are companies that should be higher that may not go where I think they're going to go. And I don't know that any of us are going to get a 50% return this year. And I think 25 or 30% may win it. [00:52:49] Speaker 4: Oh, yeah. I've thought that for a while. [00:52:51] Speaker 1: And if I'm looking to do 25 or 30%, I think that there are some companies out there that you guys would never even consider taking that will help me out a great deal. Because when I start running the math on what is realistic, I think you guys are going to be surprised what ends up in the portfolio. [00:53:11] Speaker 4: You're thinking reversing to the mean, but from the negative side, not going from peak to... [00:53:17] Speaker 1: I don't want to give you too much information there, man. You already know? I can fucking read through your bullshit. Look, am I going to take NVIDIA if MIT doesn't? Yes. If MIT doesn't take NVIDIA, I'm going to take Broadcom. That's not changing. [00:53:35] Speaker 4: Are you going... Somebody just said it in the chat. Damn it. [00:53:42] Speaker 1: What? [00:53:43] Speaker 4: I forget where. I just saw it and I was like, yeah, so I'm going to bring that up to Steve. Oh, grab. Are you taking grab full port? [00:53:50] Speaker 1: I am not taking grab. [00:53:52] Speaker 4: Yeah, I don't know if I would either. I feel like a bit would take grab though. [00:53:56] Speaker 1: But after the first three, four rounds, I think that I got some stuff that people are not going to want to take and I don't want to mention the names, but I do think that there's some stuff that are going to get... I think there's some acquisitions that may happen. I'm going to get a little interesting this year. [00:54:19] Speaker 4: Yeah, I still need to do my work. I can't. I was going to pull up Google Sheets, but I'm on my work laptop. We can't look at Google Sheets on our work laptop. [00:54:33] Speaker 1: Heard it here first, Steve. You heard it here first. You heard it here first. You heard it here first. And maybe I... Maybe, okay, just maybe my number one pick is going to be... Maybe I change it. Maybe it's not going to be Broadcom. Or NVIDIA. Maybe it's going to be something that could fly that two people probably want. And maybe that'll be my one home run I try to make. You can buy Rocket Lab, Steve? No, I'm just kidding. No, I make short Rocket Lab. I can tell you that much. [00:55:06] Speaker 4: I was really hoping... Short it? I don't know. At 100? I don't know if that's the best idea. If it was at 150 still... It was at 150, I would say. Eh, you might be onto something, Steve. [00:55:18] Speaker 1: But... Look, I may take Core Weave first. [00:55:23] Speaker 4: Did I... I don't think that's... I don't think that's crazy. Did I... Did I tell you the news from yesterday, Steve? [00:55:31] Speaker 1: You did not. What's the news from yesterday? [00:55:34] Speaker 4: I sold a big position. [00:55:38] Speaker 1: Oh, boy. A big position. [00:55:41] Speaker 4: No, I shouldn't say big position. [00:55:44] Speaker 1: You got out of Microsoft? [00:55:47] Speaker 4: No, I got out of SpaceX. [00:55:49] Speaker 1: That wasn't a big position. [00:55:51] Speaker 4: I know. That's why I said I shouldn't have said it. [00:55:53] Speaker 1: Yeah, that's why I'm like, you sold a big position. SpaceX wasn't big for you. [00:55:57] Speaker 4: But I do want to disclose to people, because, like... And I still need to disclose this at length with... [00:56:02] Speaker 1: Danielle wants to know if you're still full-port space. [00:56:06] Speaker 4: What, Rocket Lab? Daniel who? [00:56:12] Speaker 1: Danielle wants to know if you're still full-port space. [00:56:16] Speaker 4: I mean, not full-port, but... I still have a large Rocket Lab position. [00:56:21] Speaker 1: You're still the Rocket Man. [00:56:24] Speaker 4: Rocket Man! Steven! No, I want to disclose to people, though, that I sold BM&R for, like... I don't even know. It might have actually been a profit. It definitely wasn't a big loss, if it was. Like, I'm not sitting on massive losses like a lot of people, because I bought... I waited at, like, 16, 17 to buy. Most people bought, you know, north of that. And then I also sold Symbotic. And I want to state publicly, because people are probably going to see stuff and try to spin it. And I've also had some people that are anxious about the fact that I sold them. It's not... I didn't sell them because I dislike those companies. I actually think that they're going to do well. And actually, some of those companies I might bring into the draft tomorrow, to give you maybe a little bit less. But when I have a specific portfolio, I think that... And Steve, I think you might be into the... Like, you might be aligned with this. I'm not saying I'm going to reduce risk throughout the portfolio. But what I am going to say is, if I see comparable potential returns from one stock to another, I'm going to choose the stock that I feel has less risk. [00:57:43] Speaker 1: This year, I think that's the way to go. [00:57:46] Speaker 4: Well, not just for the stock draft, but just in general for my own personal portfolio. And I don't know if that's what you meant as well, but... [00:57:54] Speaker 1: Let's just say that this year is going to be very interesting. [00:57:59] Speaker 4: Steve, I get it. You're better than me. Like, I don't know... I didn't say that. I don't go to Wolfgang... I don't get the garlic mash. I hear all these things you're saying, Steve, and I get it. I'm internalizing it. You're better, okay? [00:58:16] Speaker 1: Please, you go smoke a cigar and go to a steakhouse on a Wednesday just because. And what am I driving on the way there? No, I'm just kidding. Like, you're acting like I'm acting. You pull out your keys. What are you driving? [00:58:32] Speaker 4: Well, it's funny. Yeah, that's funny. But, yeah, I've had a lot of people stop me in the office. They're like, I heard the news. And I'm like... I'm like, first of all, I was like, I can't make a YouTube channel. I was like, I can't... [00:58:46] Speaker 1: I do not believe you are driving that to freaking work. [00:58:49] Speaker 4: I did it once or twice. [00:58:53] Speaker 1: Did you actually tell everybody what you bought? [00:58:56] Speaker 4: No, just there was like one or two people that... [00:58:59] Speaker 1: I just want to make sure that I don't slip. That's why I'm asking. [00:59:02] Speaker 4: Oh, I mean, if they want to know. I mean, I don't talk about it too publicly. If they really want to know, they can follow me on the gram. And so that way... [00:59:15] Speaker 1: Wait, can you put something on Instagram about it? [00:59:16] Speaker 4: Yeah. What can you do? So that way the baddies can DM me, you know? [00:59:21] Speaker 1: There you go. [00:59:24] Speaker 4: But what was I going to say? No, I mean, only the people that... At the office that knew stuff about these types of cars. [00:59:34] Speaker 1: Okay. [00:59:35] Speaker 4: And then, of course, the one person that I was talking about with saw me drive in the one day that I did drive it to the office. And the only reason why I did drive it to the office was because... [00:59:49] Speaker 1: I feel like you're about to get a lot of followers. [00:59:54] Speaker 4: Oh, shit. Well, I wasn't expecting Ray to do that. But the... What was I going to say? Oh, like I drove there, I don't know, a couple weeks ago, grabbed it. And then I just like forgot that I even had a second car. So I just like drove... I left the Tahoe there for like three days. And eventually they called me like, Sir, you need to come and pick up your Tahoe. And I was like, yeah, you're probably right. I should go grab it. So then I went to go grab the Tahoe. But yeah, I was having a good time with it for the first couple days. [01:00:32] Speaker 1: You're a good kid. [01:00:34] Speaker 4: Hey, man. Like yesterday or two days ago, I was like, do I regret this? Did I spend too much? And then I like asked Gemini. And Gemini was like, don't be an idiot. You're fine. I was like, okay, thanks, Gemini. Thank you for helping me. [01:00:53] Speaker 1: Gemini. [01:00:55] Speaker 4: Dude, Gemini. I'm afraid that Gemini is just going to do all my thinking for me. [01:01:03] Speaker 1: I'm afraid that I'm going to end up being right. And I can't believe that somebody was on the all-in liquidity and said the same thing that I've said. Because I said it before this guy said it. I've never heard anybody say that until now say that Alphabet very well could run the tokens at zero cost and lose money because they generate so much cash flow everywhere else and decimate OpenAI and Anthropic after they sell off their equity stakes in them. [01:01:39] Speaker 4: Oh yeah, Chris was talking about that. They said that in all-in. [01:01:42] Speaker 1: Yeah, they said it at the all-in. So Chris and I had a conversation about it. I mean, I've been saying this for a couple of weeks now. And I don't know if it's likely, but they certainly have the ability to. [01:01:54] Speaker 4: When did they say it in all-in? Was it the second half? Because I don't think I heard them talking about it. [01:01:59] Speaker 1: No, it was one of the interviews with one of their guests at the liquidity conference. [01:02:02] Speaker 4: Oh, okay. Because they were talking a lot about data space and perplexity and the new models that were out and how they're downgrading everybody because they're not smart enough in AI or something like that. So they were talking a lot about that in the first half of the last all-in episode, and I didn't have the opportunity to finish it. So I wasn't sure if that's what you were talking about. [01:02:26] Speaker 1: Yeah. And look, I'm not saying that they're going to do it. They could easily cut the cost on their enterprise-level AI by 50%. They could do a lot of things because everybody else's margin is their opportunity, and they have the cash flow to do that. I wouldn't be surprised if they take that route. I would if I was them. [01:02:45] Speaker 4: Steven, they're bucketing things. Did you know this? [01:02:48] Speaker 1: Bucketing things, what do you mean by that? [01:02:50] Speaker 4: So two or three days or two or three weeks ago, you know if you don't have premium, like you can't close live streams and listen to them still, like podcasts? [01:03:01] Speaker 1: No, because I've had for what, YouTube? [01:03:03] Speaker 4: Yeah. [01:03:03] Speaker 1: No, because I've had premium for God knows how long. [01:03:05] Speaker 4: Yeah, so anyway, I normally just – I've done premium in the past when I was watching NFL and stuff like that, and it's not NFL season yet, so maybe I'll get it back when NFL season comes. [01:03:19] Speaker 1: Whoa, whoa, whoa, whoa, whoa. You're talking about YouTube TV or just a regular premium that's like $12 a month? [01:03:24] Speaker 4: Both or whatever it was. I don't remember what it was. [01:03:27] Speaker 1: If you use YouTube a lot, there is no reason not to pay the $12 a month for premium because it is the greatest – I mean, if I look at the apps I use, YouTube is easily the number one thing. [01:03:42] Speaker 4: Let me finish. Let me finish. So whenever I let my YouTube TV roll off or whatever it was, I had it with the premium, whatever. I turned it off like at the end of the NFL season a couple months ago, and I haven't been using it. So I know that when I was listening to like all these podcasts or whatever, if my phone shut off, then it would automatically shut off everything else, and I'd have to restart my phone, et cetera. The other week, I was at the gym, and I like accidentally closed my phone, but the podcast kept going. And I was like, wait a second. That's a premium thing. And then I looked, and I was like, did somebody like sign me up for their premium membership? How am I now like magically getting premium? I go on YouTube on my home computer or my laptop, and it says YouTube premium in the upper left. I'm like, I don't remember signing up for it again. Steve, you know what they did? [01:04:32] Speaker 1: What'd they do, Matt? [01:04:34] Speaker 4: If you're a Gemini subscriber, $20 a month, they give you free YouTube premium. [01:04:40] Speaker 1: Wait, what? [01:04:41] Speaker 4: Yeah. [01:04:43] Speaker 1: So I'm double paying? Steven, are you double paying? What? Double check that. [01:04:50] Speaker 4: Double check that because I literally was just like, oh, and I don't know if that's like a trial thing. [01:04:55] Speaker 1: It's a subscription, right? [01:04:57] Speaker 4: Something like that, yeah. [01:04:59] Speaker 1: Hold on. All right, let's see what we get. Manage membership. [01:05:16] Speaker 4: You can manage me, Steven. [01:05:21] Speaker 1: See all benefits. Okay. So in here, you get YouTube premium light, which I don't know what that means. [01:05:34] Speaker 4: Let's do it live, Steve. We can help some people out. [01:05:38] Speaker 1: YouTube. [01:05:40] Speaker 4: I know June is like an advocate for definitely not doing YouTube premium. That's not a hit on June. I'm just, well, I guess it is a hit on June, but it could help somebody out like June that also is paying for Gemini or potentially paying for Gemini and also has to live through how horrible your ads are. Unlike the Matt Money channel where we don't show in stream ads. [01:06:02] Speaker 1: Listen, I just put it on. I'm joking, Steve. I put it on what the YouTube recommended setting is. I'm just joking. I do not change or screw around with it. So it does not say premium light in here. It says premium on the YouTube side and it says ad free offline and background play on YouTube and YouTube music with premium. YouTube kids is also ad free and supports offline videos. [01:06:32] Speaker 4: But it's combined with like a basic Gemini. Hold on. So I think I pay like 20 bucks a month. I don't remember what I pay for Gemini. Let me see. You guys can look at my ceiling. [01:06:46] Speaker 1: So there's two different. Okay. So there's two different YouTube plans. There's a premium light individual provided by Google one and individual for premium. I don't know. I have both. [01:07:05] Speaker 4: I guess I'm a pro member. Oh, I don't even want to look at my usage limits. Managed subscription. Oh, access denied. I can't do that. Oh, because we don't. Yeah, never mind. Well, shit. And that makes me think like I can't use Google suite on my Bork laptop because I guess we signed a deal with Microsoft. So they like limit you and you can't. I'm surprised they still let me use Gemini. [01:07:38] Speaker 1: To be honest with you. They know you like it, Matt. So what are you taking tomorrow night, Matt? [01:07:46] Speaker 4: I don't have my list open because like I said, the office doesn't let me look at Google. [01:07:54] Speaker 1: You are blaming the office. [01:07:57] Speaker 4: If I were to switch laptops, but I think I have to go. [01:08:02] Speaker 1: Oh, this guy's got to go. We start talking about the draft. He's got to go. He doesn't want to give away secrets. [01:08:08] Speaker 4: I will say I wouldn't be surprised if there's a couple nuclear companies in there. Oh, I wouldn't be surprised. There's some utilities. [01:08:20] Speaker 1: Are you trying to be like me? [01:08:21] Speaker 4: Trying to be like you, Steve. Am I disappearing or am I still there? I guess I'm disappeared. But let me just pull up my... You can still hear me. You can still hear me though, right? I can. Okay. Let me pull up my list. Steve's making his way downtown. Walking vast. Faces passing his homebound. His name is fucking Steven. I got some Magna 7. I got some banks. [01:08:49] Speaker 1: Ooh. I got a bank on mine. [01:08:52] Speaker 4: I got some LNG. I got some Fintechs. I have some beverage makers. [01:09:03] Speaker 1: Beverage makers. [01:09:06] Speaker 5: They could be soft. They could be hard. [01:09:10] Speaker 1: They could be hard. A little Coors Light. [01:09:13] Speaker 4: Steve, before I go, what would you think if I made... Not to make a lot of money, but just for fun. A cigar brand. [01:09:28] Speaker 1: Yeah. [01:09:31] Speaker 4: WWSFD. What would Steven Furlow do? I know you wouldn't partake, but... [01:09:35] Speaker 1: What, you want to start a cigar brand? [01:09:37] Speaker 4: Yeah. Part of me wants to go down to Nicaragua and the Dominican and find some... I think it's a bad idea. Why? [01:09:46] Speaker 1: The amount of time you're going to have to spend to make it successful is going to be intense. [01:09:51] Speaker 4: Well, I wouldn't want to necessarily make it like... [01:09:54] Speaker 1: If you're talking about a side quest, yeah, have fun. [01:09:58] Speaker 4: Yeah, side quest. [01:09:59] Speaker 1: But if you're talking about like a real business, I mean, it's going to be so hard. [01:10:02] Speaker 4: I mean, maybe if I was retired, I'd try to make it like a real business. But right now, I'd be like, let me just get a thousand cigars for like five or four bucks a stick. And if we have like events with a mint in them, I can like hand them out for basically free. [01:10:22] Speaker 1: Yeah, I mean, I believe you can go to a Toro Fuente or one of those companies and get white labeled cigars made with their tobacco with your own logo and everything on them. [01:10:34] Speaker 4: Yeah, 100%. That's kind of what I'm thinking. Try out a couple different... [01:10:40] Speaker 1: Yeah, I mean, I would say if you want to do that, just and you're not really trying to do it for real, you go to one of those places, try a couple of cigars, come up for the label and just have them make you your own boxes. [01:10:53] Speaker 4: Steven? No, that's kind of what I was thinking. And if I'm like, oh, this actually is not a bad blend, you know, then maybe I actually start something. But anyway, I do have to go, unfortunately, as much as I would love to stay and hang out with you all. [01:11:06] Speaker 1: Alright, you're a good role model. Thank you for gracing us with your presence. [01:11:10] Speaker 4: I, uh, yeah, I had to go, uh, I have an eye appointment, and then... [01:11:15] Speaker 1: Afterwards, you should go pick up Ray and Michelle, and you should go get some barbecue. [01:11:20] Speaker 4: Oof. I do have to meet up with somebody afterwards, unfortunately, but I am free this weekend, except for tomorrow. So... [01:11:29] Speaker 1: Alright. [01:11:30] Speaker 4: The girl I was going to take out tonight, uh, is instead going on a work trip. So, I have free this evening, if Ray and Michelle are in the chat listening. [01:11:41] Speaker 1: Oh! I don't know, we'll see. I think the three of you should go out. [01:11:50] Speaker 4: Yeah, Michelle needs to work her Latina magic on some of these other Latinas in the city. Be a good wing woman. [01:11:59] Speaker 1: There you go. [01:12:00] Speaker 4: And that'll keep her away from me and Ray, so me and Ray can have private time. Ray's a good guy. [01:12:08] Speaker 1: The best. The best. [01:12:11] Speaker 4: Maybe Doug will come out. But Doug's busy. He's been doing a lot of Rocket stuff lately, so... I need to reach out to him. [01:12:18] Speaker 1: By the way, before you go, I watched a Elon documentary that was put together. Mm-hmm. I gotta tell you. This guy is absolutely one of a kind. [01:12:31] Speaker 4: Persistent. [01:12:32] Speaker 1: One of a kind, man. Looks like an overnight success, right? No, he does not look like an overnight success. No, no, no. [01:12:38] Speaker 4: I think that's what people think, right? [01:12:41] Speaker 1: Like, when he talked about being down to his last 30 or 40 million dollars and having to make a decision about either funding Tesla or funding SpaceX, and he's like, if I choose one over the other, the other one dies. So, we're going to split the money, and maybe they both die, or maybe we succeed? Like, crazy. Crazy. [01:13:04] Speaker 4: I mean, anybody that doesn't think... Anyone that can literally look through all that history and say with a firm face that they don't think that he should be a trillionaire is sick in the head. [01:13:21] Speaker 1: Sick in the head, Stephen. I may not agree with the valuations of his companies, but you have to respect what he's done. [01:13:28] Speaker 4: A hundred percent. [01:13:29] Speaker 1: Have to respect it. [01:13:31] Speaker 4: I've never, in my mind, been like... He doesn't deserve to be worth, or the richest man. He's... The sacrifices... I've watched it, you know, maybe not forever, but since, like, 2013, 2014-ish. You know, so over 10 years, I've been watching, and just what I saw, not even necessarily at the beginning stages of Tesla and stuff, but I've seen documentaries and stuff, and, you know, that look in retrospect. And I'm like, I don't... He could be worth three trillion. Like, I'm okay with it. I think that anybody that is, like, trillionaire shouldn't resist. Like, then think about the amount of EV push, the amount of other things. Open AI that's going on right now. So many other different things that he's had his fingers on. PayPal, for example. Revolutionizing how we make electronic payments across the internet. Like, all these different things. Without his involvement, say he's not the puppet master, whatever you will. Like, he had his finger in all of it, or at least a part of it. So, people can S a D if they don't think that he should be a trillionaire. Sorry, I didn't mean to take that, but I do have to go. [01:14:47] Speaker 1: Later. [01:14:47] Speaker 4: I love you all. Bye. Thank you for the opportunity to hang out. [01:14:50] Speaker 1: Later, Matt. All right. Well, we didn't really learn much about his picks. But you know what? I am standing by my thesis that I think it's going to be a much more difficult year this year year than what it was last year. And I am looking at doing a few things differently this year. There are companies that are very outside of what we talk about that I am really considering taking. While you are not going to be happy with some of my picks, but that's okay. I'm going on a much different approach this year. And that's the way I'm going. We will see what happens. But for the rest of the year, I have a feeling things will be okay. I think that we could see a little bit of a slump in the summer. At the same time, if it comes out over the weekend that all this was BS and everything is still going to go well and oil tankers are going through, I think we're going to be all right. So, we just got to get over the next couple of weeks. That's all that matters. That's all that matters. Be Martin. That is a perfect way to say you can respect what he's done and dislike him as a person if you want. Perfect way of saying it. Perfect way of saying it. Cole Noto. Cole Noto. Yeah, I don't have his phone number. Oh, my God. Did anybody else think it was crazy that CNBC is from Shinnecock? I thought it was. I thought it was pretty crazy. But you know what? There's a lot of things going on this weekend. We got the stock draft. We got the U.S. Open. We got baseball. We got a lot of things. A lot of things happening. I would love to talk to Burry. I don't think Burry wants to talk to me. I would love to talk to Burry. Here's what it is. Jake Rizzo. Spitting facts. 9 p.m. tomorrow night. 9 p.m. We got basis points tonight. Basis points. Steve Eisman would be awesome. We may have a little drink during the draft. We may have to pull out the Johnny Blue for the draft. We may have to. I'm not much of a McAllen guy. McAllen's okay, but I like the Johnny Walker blended better. I don't know why. I'm a big fan of Highland Park, but I don't have any more Highland Park here. Now, basis points will be out, I think, at 5 or 6 o'clock. Buffalo Trace is the best bang for the buck. You will not disappoint anybody with Buffalo Trace. Phenomenal. Phenomenal. Honestly, way better for the price point. Do I still own Palantir? Yes. Does Amit still own Palantir? Yes. Highland Park. Johnny got you. Johnny got you yesterday. All right. Johnny gets you sometimes. Two of your worst friends are probably Johnny and Jose. Just saying. Just saying. I think Meta and Microsoft will both do well over the next year. I really do. Jose ain't a friend of mine. I hear you. I hear you. Yeah, Tom, I think Buffalo Trace is the most underrated bourbon there is. It's incredible. We'll see about SpaceX. I'm not in it yet. Well, technically I am because of my wife. I'm not in it. If SpaceX falls, I'll be getting more interested. Eagle Rare is good. Man, a lot of bourbon drinkers in here, huh? A lot of bourbon drinkers. Colton. That's interesting because we are considering getting a little bourbon trail trip going at some point. Yeah, I got to have a couple of conversations with Hollis about that is that we both want to do the bourbon trail. And a couple of people I know up here want to do it. So we may make that happen. We'll see. We will see. I don't have a price prediction, but look, I do think Palantir is getting very enticing here. Very enticing. So I'm going to get going. I need to get some lunch. Got to watch some U.S. Open. I'm putting out a video about the Fed in an hour. We may be live tonight. We'll see. We may go live tonight. A little impromptu live. If not tomorrow, we will 100% be here for the draft. Second annual, Amit is the winner. We expect him to give a speech and then lead us off with a new pick for the first pick in the 2026 second annual stock draft. If you like the video, please like and subscribe. If you're not subscribed already, it helps me out a lot. Really appreciate all your support. You guys are the best. Wouldn't be doing this without all of you. Thank you. All your support means the world to me. I will see everybody either later tonight or tomorrow. Have a great rest of your day. Thank you for being here, everyone. Thank you.