Latest / Ron Verb / Thursday 6pm hour 05/07/26

Transcript

Thursday 6pm hour 05/07/26 · Ron Verb

• 0:00
  Speaker 1: That it is, NewsRadio 570. Welcome to a Thursday evening.
• 0:03
  Speaker 1: It's already May 7th. It's 56 degrees, Ron Ferb. And
• 0:09
  Speaker 1: here he is, the one, the only, John Arnold. Welcome, John. Hey, Ron.
• 0:15
  Speaker 2: Thanks. You got a good copy on me there?
• 0:17
  Speaker 1: I got a great copy on you.
• 0:18
  Speaker 2: Over.
• 0:18
  Speaker 1: Excellent.
• 0:20
  Speaker 2: Thank you very much. Hey, let me hit this disclosure
• 0:22
  Speaker 2: real quick and we'll get on our way. The Money
• 0:25
  Speaker 2: Talk show is for informational and educational purposes only. John
• 0:28
  Speaker 2: Arnold is my currently registered investment advisor, and nothing on
• 0:31
  Speaker 2: this show is personalized investment advice. Please consult your own
• 0:35
  Speaker 2: licensed financial and or tax professionals before making any investing decisions.
• 0:40
  Speaker 2: All investing involves the risk of loss of principal.
• 0:44
  Speaker 1: All right. That's it. That's right. Sounds good to me.
• 0:50
  Speaker 1: Let's get a little bit of a, when you're talking
• 0:52
  Speaker 1: about investing, I always like to start with you by
• 0:55
  Speaker 1: some analysis, if you will, of market summary and the
• 1:00
  Speaker 1: economy in general and what's going on in the Middle East.
• 1:03
  Speaker 1: I think it all ties together. Take it away.
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  Speaker 2: Yeah, it definitely doesn't take a genius to say, hey,
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  Speaker 2: this is all tied together. They are in war. between
• 1:14
  Speaker 2: inflation and oil, but it appears like that thing is
• 1:18
  Speaker 2: coming to a peaceful end, I hope, anyway, and the
• 1:21
  Speaker 2: market reacted yesterday beautifully. Yesterday in my personal portfolio was
• 1:26
  Speaker 2: the best overall day I've ever had. I have a
• 1:30
  Speaker 2: day trading portfolio that I manage. Best one I've ever had,
• 1:33
  Speaker 2: and due strictly to volatility. I think I made like
• 1:36
  Speaker 2: 26 trades yesterday and made a ridiculous amount of money,
• 1:39
  Speaker 2: and that's good because I had to recoup some losses
• 1:42
  Speaker 2: off silver. from a couple months ago. But overall, the
• 1:46
  Speaker 2: market today, it was profit-taking from yesterday, oil-related pressure, but
• 1:53
  Speaker 2: the majority of the index remained near highs. The Dow Jones, 49,597,
• 1:57
  Speaker 2: down 314 points. And that used to be a pretty
• 1:58
  Speaker 2: big day, but down 314 points is just a down
• 2:01
  Speaker 2: day nowadays. SP500, 7,337. Down 28 points intraday. And then
• 2:16
  Speaker 2: the NASDAQ, that's the one I really pay attention to, 25,806.
• 2:18
  Speaker 2: Down 0.1% today. Not 1%, but 0.13%. And, again, strictly
• 2:21
  Speaker 2: off of profit-taking. And then you've got gold trading around
• 2:25
  Speaker 2: 4,730 to 4,750 area. About 1% based on safe havens
• 2:27
  Speaker 2: and dollar moves. And we got three major NASDAQ viewers
• 2:47
  Speaker 2: a day, and I don't own any of these, by
• 2:49
  Speaker 2: the way. Fluence Energy was up over 41% today. Geometry
• 2:55
  Speaker 2: was up 39%, and Datadog was up 31%, which are
• 3:00
  Speaker 2: all tech and energy industrials. And those folks had a
• 3:04
  Speaker 2: great day while the rest of us kind of sucked.
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  Speaker 1: Are those in sectors of interest for you? I mean,
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  Speaker 1: I always hear about sectors. Like, are they doing well,
• 3:15
  Speaker 1: the technology sector and NVIDIA and this kind of stuff,
• 3:20
  Speaker 1: the energy sector? I mean, when we talk about sectors,
• 3:24
  Speaker 1: what are your thoughts on some of those areas?
• 3:27
  Speaker 2: Yeah, I'm really big. My own summary on that is,
• 3:32
  Speaker 2: and again, this is not investment advice, but I think
• 3:34
  Speaker 2: personally this is an opinion. Tech is still ripe for
• 3:37
  Speaker 2: the picking. I'm heavily involved in AI and semiconductor sectors.
• 3:41
  Speaker 2: I think the energy sector is not something on my radar.
• 3:45
  Speaker 2: I think, you know, if you can afford to short,
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  Speaker 2: you have the risk tolerance for shorting, and you know
• 3:51
  Speaker 2: what you're doing, I think there's a short there. And industrials,
• 3:54
  Speaker 2: I think industrials are at play here. I do, because
• 3:57
  Speaker 2: of interest rates. I think interest rates are, in the future,
• 4:00
  Speaker 2: maybe going to decline a little bit, which will make
• 4:02
  Speaker 2: industrials a little bit cheaper for companies to buy them
• 4:04
  Speaker 2: the big. And so there's a particular opportunity there. Again,
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  Speaker 2: all of that carries risk. Don't do a damn thing without,
• 4:12
  Speaker 2: you know, talking to somebody first or doing your own research. But, again,
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  Speaker 2: just to reaffirm of those three that I just talked about,
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  Speaker 2: I like tech and I don't like energy and I
• 4:21
  Speaker 2: do like industrials.
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  Speaker 1: The term volatility, though, certainly applies and still continues to
• 4:30
  Speaker 1: apply until some type of resolution comes forward. with this
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  Speaker 1: situation in the Middle East. Are we in agreement on that, John?
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  Speaker 2: Yeah, I'll be honest with you, and I know that
• 4:38
  Speaker 2: Democrats are in love hearing this, but I think as
• 4:41
  Speaker 2: long as Donald Trump is president or anybody that is
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  Speaker 2: like him, the term volatility is going to exist in
• 4:46
  Speaker 2: the market. And I'm pro-Trump. But as far as your
• 4:49
  Speaker 2: market data, you know, market reaction kind of stuff, I
• 4:52
  Speaker 2: think he is a volatility king. I think he is
• 4:56
  Speaker 2: going to create tons of volatility. I think year to
• 4:58
  Speaker 2: year you probably have a positive gain like you've had
• 5:01
  Speaker 2: thus far. But I do think that it's not for
• 5:05
  Speaker 2: the faint of heart. If you're a day trader or
• 5:07
  Speaker 2: a swing trader like I am on my trading portfolio,
• 5:11
  Speaker 2: let me distinguish that real quick here, Ron. I don't
• 5:13
  Speaker 2: put all my money in swing trading and or day
• 5:18
  Speaker 2: trading because, honestly, you can get killed. So I have
• 5:22
  Speaker 2: about 20% to 5% to 30% of my portfolio in
• 5:24
  Speaker 2: day trading or swing trading accounts and the rest are
• 5:27
  Speaker 2: in my income account or my IRAs or whatever. My
• 5:30
  Speaker 2: growth account, long-term growth, which is designed for money when
• 5:34
  Speaker 2: I'm 60. Right now I'm 50. So I'm talking things
• 5:39
  Speaker 2: that are attractive to day traders and swing traders like myself. Yeah,
• 5:43
  Speaker 2: he is absolutely both a dream come true and a
• 5:47
  Speaker 2: nightmare at the same time for an investor. So if
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  Speaker 2: you're on the right side of volatility like I've been,
• 5:52
  Speaker 2: Donald Trump is your cup of tea. And so I
• 5:56
  Speaker 2: don't think it's necessarily the round back to what you're
• 5:59
  Speaker 2: talking about. I don't think it's necessarily due to just
• 6:02
  Speaker 2: strictly the Iran-U.S. conflict or war, whatever you want to
• 6:06
  Speaker 2: call it. I think it's overall volatile, everything. You've got
• 6:10
  Speaker 2: home prices uncertain, which we'll get into in a second.
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  Speaker 2: You've got he's shaking up the mortgage market a little bit.
• 6:15
  Speaker 2: You've got commodities being shaken up, you know, between gold, silver, platinum, copper.
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  Speaker 2: You've got all kinds of things out there that Donald
• 6:22
  Speaker 2: Trump speaks can go up and down the minute he
• 6:25
  Speaker 2: takes a breath.
• 6:26
  Speaker 1: And you remind me of like when you talk about, see,
• 6:32
  Speaker 1: I think a lot of us sit back and I'm
• 6:33
  Speaker 1: guilty of it myself thinking, all right, a lot of
• 6:36
  Speaker 1: this volatility that we see as a result of obviously
• 6:39
  Speaker 1: at this time, the situation in Iran. But if we
• 6:42
  Speaker 1: think before this took place, there was a lot of
• 6:44
  Speaker 1: volatility and it had to do with what tariffs. So
• 6:48
  Speaker 1: when you're talking about as long as Trump is. probably
• 6:50
  Speaker 1: as presidents, and he's trying to do certain things. He's
• 6:54
  Speaker 1: not just a status quo ho-hum guy. He's going to
• 6:57
  Speaker 1: try to change things. You can argue whether it's for
• 6:59
  Speaker 1: the better or worse. That's not the point. As long
• 7:02
  Speaker 1: as he's trying to do that, you're saying that's why
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  Speaker 1: you think during the rest of his term there will
• 7:06
  Speaker 1: continue to be volatility, right?
• 7:09
  Speaker 2: Yes, yes. So I'm what's called a macro guy, and
• 7:13
  Speaker 2: we'll get into that in a second. Macro means I'm
• 7:15
  Speaker 2: looking at the whole picture. I'm not looking at oil prices. Gas, vegetables,
• 7:20
  Speaker 2: whatever the hell, you know, pork bellies. I'm looking at
• 7:23
  Speaker 2: the big picture. Donald Trump's big picture is exactly what
• 7:26
  Speaker 2: you said. And this is going to get a little political,
• 7:29
  Speaker 2: but let's talk the real talk here. He is fixing
• 7:34
  Speaker 2: a lot of stuff that's been broken, not from Biden.
• 7:37
  Speaker 2: I'm talking from probably Bill Clinton on. And he's trying
• 7:42
  Speaker 2: to repair a lot of the damage that's been done.
• 7:44
  Speaker 2: Because those guys, Bush, Clinton, Obama, they did a lot
• 7:46
  Speaker 2: of damage to the overall fundamentals of the American economy.
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  Speaker 2: Those things take drastic measures. And with drastic measures comes
• 7:55
  Speaker 2: drastic volatility. Last year at this time, actually two months
• 7:59
  Speaker 2: prior to, I had investors out of their mind two
• 8:05
  Speaker 2: years ago even. Basically, with the tariff talk and then
• 8:09
  Speaker 2: the tariffs coming through, And look at that market. I
• 8:12
  Speaker 2: think it fell like 22% in like a month. You know,
• 8:15
  Speaker 2: people I met for me, there were account holders, and
• 8:17
  Speaker 2: what are we going to do this and that? And
• 8:19
  Speaker 2: these are the same people who are like pro-Trump, love
• 8:21
  Speaker 2: the guy, you know, he can do no wrong. And
• 8:23
  Speaker 2: I said, well, I used to pin him down. Did
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  Speaker 2: you really think that Donald Trump's going to come in
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  Speaker 2: and start raising tariffs on countries that have been getting
• 8:32
  Speaker 2: a free ride on us and everybody's going to just
• 8:35
  Speaker 2: enjoy this free ride and it's going to be easy
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  Speaker 2: and stable? Did you really think that? Or let's use
• 8:42
  Speaker 2: your brain a little bit here and let's get to
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  Speaker 2: the real and say, hey, you know what? It's going
• 8:45
  Speaker 2: to take some pain. It's going to take some volatility.
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  Speaker 2: And sure enough, that's some of the gun pulled it off. And,
• 8:52
  Speaker 2: you know, to everybody's dismay except for his supporters, here
• 8:56
  Speaker 2: we are. Mark is still doing good, hitting new highs.
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  Speaker 2: The economy in collapse. Even some of the Democratic leaders
• 9:02
  Speaker 2: are like, well, I can't believe my eyes. I can't
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  Speaker 2: believe what happened. So he pulled it off. Let's get
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  Speaker 2: into the Iran thing. Whether you believe it or not,
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  Speaker 2: at the end of the day, those people have been
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  Speaker 2: pushing us around for 40 years. And, you know, I
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  Speaker 2: remember when I was 5'6, you know, yellow ribbons around
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  Speaker 2: oak trees, and my grandparents crying when the hostages got
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  Speaker 2: released when Reagan came in that first day. You know,
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  Speaker 2: Iran's been really doing us dirty in the world for
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  Speaker 2: about 40 years. I think, you know, we'll probably never
• 9:32
  Speaker 2: know the truth, but if they truly were around the
• 9:35
  Speaker 2: corner from an nuclear bomb, You know, Donald Trump might
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  Speaker 2: have saved the world. That is the truth. Again, let's
• 9:40
  Speaker 2: circle back. Forget that I'm a supporter. Was that going
• 9:43
  Speaker 2: to happen without a lot of turmoil and volatility? That
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  Speaker 2: answer is no. And so, you know what it is? Everybody,
• 9:51
  Speaker 2: including people who want to invest money and think they're
• 9:55
  Speaker 2: going to invest in the market, with a S &
• 9:56
  Speaker 2: P 500 or small cap or whatever have you, if
• 9:59
  Speaker 2: they think that they're going to make 10% to 12%
• 10:02
  Speaker 2: without ups and downs in the market, they're out of
• 10:04
  Speaker 2: their mind, Ron. They're not dumb. They're irrational. And the
• 10:09
  Speaker 2: same thing comes here. It's going to take patience and
• 10:13
  Speaker 2: understanding that with these drastic measures comes drastic volatility. And
• 10:17
  Speaker 2: for me, like as a trader, I love it. I
• 10:19
  Speaker 2: can understand mom and pop retiring at 65 who don't
• 10:22
  Speaker 2: like this. I get it all the way. I do.
• 10:24
  Speaker 2: I truly get it if you're looking at the big picture.
• 10:27
  Speaker 2: But the truth is, these drastic measures he's doing and
• 10:30
  Speaker 2: shaking things up do not come without extreme volatility. And
• 10:33
  Speaker 2: that's the truth. Over and out. What do you think?
• 10:36
  Speaker 1: Well, there are a couple of things. So it would
• 10:39
  Speaker 1: seem to me, I mean, just to take it one
• 10:42
  Speaker 1: step further, if he's able, what do I think? Every
• 10:46
  Speaker 1: day you kind of hear this, we're close to a resolution,
• 10:48
  Speaker 1: we're close to a resolution. I've heard this for a
• 10:51
  Speaker 1: long period of time. It hasn't happened yet, but it
• 10:53
  Speaker 1: always has an effect on the market. When he says that,
• 10:56
  Speaker 1: the market seems to go up, seems to ease people's fears,
• 11:01
  Speaker 1: if you will. Maybe even the price of oil comes
• 11:03
  Speaker 1: down a little bit. But then when it doesn't materialize,
• 11:06
  Speaker 1: You're right back into the red or you're right back
• 11:09
  Speaker 1: into oil prices going up. So you can only listen
• 11:12
  Speaker 1: to that so long. We're close to a deal. We're
• 11:14
  Speaker 1: close to a deal. And now we hear it again.
• 11:16
  Speaker 1: We're close to a deal. Well, when is there going
• 11:19
  Speaker 1: to be a deal? I mean, I've been hearing this talk, John,
• 11:21
  Speaker 1: for weeks now. When is there going to be a
• 11:24
  Speaker 1: deal so that you know when it's not talk at all?
• 11:30
  Speaker 1: Whatever he says creates this volatility. You like it as
• 11:34
  Speaker 1: the type of investor you can be. But I think
• 11:36
  Speaker 1: for the average person, these huge extremes when it comes
• 11:41
  Speaker 1: to volatility are uncomfortable for people because they can see
• 11:45
  Speaker 1: their retirement funds, or if they're close to retirement, change
• 11:49
  Speaker 1: dramatically with these huge ups and downs. I mean, I
• 11:54
  Speaker 1: think it makes people very uncomfortable, traditional stock market investors.
• 11:59
  Speaker 2: You know, I'm glad you brought that up. And, again,
• 12:03
  Speaker 2: you're very much like me. Like, I'm a very show-me-the-baby guy.
• 12:07
  Speaker 2: You know, the wife in labor and this and that
• 12:09
  Speaker 2: scream all the time, like, give me the baby. You're
• 12:10
  Speaker 2: a baby, give me the baby guy, and I am too.
• 12:13
  Speaker 2: But also, the older I get, and I think you're
• 12:16
  Speaker 2: the same way, I look at the big picture. You're
• 12:18
  Speaker 2: dealing with a country that is full of maniacs who
• 12:21
  Speaker 2: believe they're going to go to heaven for killing people,
• 12:24
  Speaker 2: 40 virgins of 40 pieces of gold. But add to this...
• 12:28
  Speaker 2: You don't even know who the hell a leader is.
• 12:30
  Speaker 2: You don't even know if the talks you're talking are
• 12:32
  Speaker 2: going to hold up are real. You don't know because, one,
• 12:35
  Speaker 2: he killed the majority of the leadership, and, two, the
• 12:38
  Speaker 2: Iranian leadership doesn't even know who the leader is. So
• 12:41
  Speaker 2: I think, and maybe I'm just maybe the dumbest or
• 12:45
  Speaker 2: naive guy in the world, I think he believes in
• 12:47
  Speaker 2: his heart that he is making a deal and making progress.
• 12:51
  Speaker 2: and then two steps forward and one step back happens,
• 12:53
  Speaker 2: which I agree with you is frustrating, especially being a supporter,
• 12:57
  Speaker 2: but you're right. That son of a gun and that
• 12:59
  Speaker 2: particular turmoil is creating ridiculous volatility. It is hurting, obviously,
• 13:05
  Speaker 2: long-term investors, and I don't see a way around it.
• 13:08
  Speaker 2: I don't. And again, it kind of circles back to
• 13:10
  Speaker 2: what I talked about, perspective. If we're going to get
• 13:13
  Speaker 2: out of this crazy, get away from this crazy regime
• 13:16
  Speaker 2: or do some things that should have been undone 30
• 13:19
  Speaker 2: years ago, It's going to take every American paying a price,
• 13:22
  Speaker 2: and I think volatility is part of it.
• 13:24
  Speaker 1: I would throw this your way. We're talking about John
• 13:26
  Speaker 1: Arnold's program, Money Talks, NewsRadio 570 WQE, and I would
• 13:29
  Speaker 1: throw this your way. We saw the same thing happen,
• 13:32
  Speaker 1: the same MO, to use a little police lingo here, John,
• 13:35
  Speaker 1: what he was doing during tariffs. We're going to have
• 13:39
  Speaker 1: a 50% tariff. Now we're going to have a 20%. No,
• 13:42
  Speaker 1: it's going to be a 10%. He did the same thing,
• 13:45
  Speaker 1: and the market was manipulated the same way just on
• 13:49
  Speaker 1: tariff talks. You follow what I'm saying, if you remember?
• 13:52
  Speaker 2: I agree. I agree. I mean, he's negotiating. Honestly, like
• 13:57
  Speaker 2: he's selling used cars. I get it. And that drives
• 13:59
  Speaker 2: me crazy, too. I 100% concur. That is not my
• 14:03
  Speaker 2: style because I'm a direct-to-the-point guy. I think this is
• 14:08
  Speaker 2: a positive when I used to own the investment business.
• 14:11
  Speaker 2: The firm, like I didn't have a sales pitch. Someone
• 14:13
  Speaker 2: come in and say, hey, this is what I do,
• 14:15
  Speaker 2: how I do it. Here's my rules. I want to
• 14:17
  Speaker 2: hear yours. Invest money or don't. I kick ass at
• 14:20
  Speaker 2: what I do, and that's the end of it. which
• 14:22
  Speaker 2: is not a very good sales pitch, but I think
• 14:25
  Speaker 2: for our area they liked it. A lot of guys
• 14:28
  Speaker 2: like him like to barter and play psychology games, and
• 14:31
  Speaker 2: I think that's what he was doing is keeping you unbalanced,
• 14:36
  Speaker 2: probably more importantly to the Democrats and the naysayers. And
• 14:40
  Speaker 2: anybody else that was attacking him, he's keeping them balanced.
• 14:42
  Speaker 2: And he probably truly had a plan. Do I agree
• 14:45
  Speaker 2: with that approach? I don't.
• 14:46
  Speaker 1: Yeah, but look, that might be his negotiating. That might
• 14:49
  Speaker 1: be his plan. But it has an effect on the
• 14:52
  Speaker 1: financial markets.
• 14:53
  Speaker 2: It absolutely does. Like I said, I said this last
• 14:56
  Speaker 2: radio show, maybe even one before. I have never seen
• 14:59
  Speaker 2: a president affect the stock market within a minute's time
• 15:03
  Speaker 2: of the speaking. It usually takes presidents in Congress and
• 15:07
  Speaker 2: Senate and basically let's just call it the House for
• 15:09
  Speaker 2: them to pass something for six months later to take
• 15:13
  Speaker 2: resolution and take effect in the market. He will talk,
• 15:16
  Speaker 2: and literally within that millisecond, you'll see what's known as
• 15:20
  Speaker 2: the VWAP, which is the market volume throughout the day,
• 15:23
  Speaker 2: the interim market volume. It will change literally like a
• 15:26
  Speaker 2: coin flip, and he will drastically affect that market and
• 15:29
  Speaker 2: that volatility. based on his first words out of his mouth.
• 15:33
  Speaker 2: And you couldn't be more correct. If you're a trader
• 15:37
  Speaker 2: and you get it right, you're happy. If you're in
• 15:39
  Speaker 2: a long-term approach and you're a bounce investor and you're
• 15:42
  Speaker 2: 60 years old looking to retire and you don't know
• 15:45
  Speaker 2: where to place your chess moves, it is absolutely hell
• 15:48
  Speaker 2: on earth for you, and I agree with you. I
• 15:50
  Speaker 2: agree 100% with your sentiment.
• 15:51
  Speaker 1: Right. And I just think it makes for maybe two
• 15:55
  Speaker 1: or more schools when it comes to, as you say,
• 15:58
  Speaker 1: the investor and how comfortable they are with something like
• 16:01
  Speaker 1: this and what age you are and what your risk
• 16:03
  Speaker 1: tolerance is. So many of those things, as you've said
• 16:07
  Speaker 1: in the past. I don't know that it's great speculation.
• 16:12
  Speaker 1: If he can reach an agreement, I mean, we keep
• 16:14
  Speaker 1: hearing about one. If he can reach an agreement and
• 16:18
  Speaker 1: it's a favorable one for everybody involved, I think people
• 16:21
  Speaker 1: are viewing well. And when that day comes, the market
• 16:24
  Speaker 1: should soar. Just speculation could be right, could be wrong.
• 16:27
  Speaker 1: As you say, the market is sore and hopefully prices
• 16:30
  Speaker 1: will come down and inflation will start to reverse. That's
• 16:35
  Speaker 1: what we're holding our breath for, isn't it?
• 16:38
  Speaker 2: That is exactly what I'm holding my breath for. That's
• 16:41
  Speaker 2: probably a good analogy, holding your breath, because something like
• 16:44
  Speaker 2: that can make you die. It seriously gives you a
• 16:47
  Speaker 2: damn heart attack every time he talks. And by the way,
• 16:50
  Speaker 2: I cannot stand the way the guy talks. I wish
• 16:52
  Speaker 2: he just talked like a normal American, but that's for
• 16:54
  Speaker 2: another show. But I agree. I can hear the frustration
• 16:58
  Speaker 2: in your voice as both an investor and an adult,
• 17:01
  Speaker 2: and someone who's probably, I don't know, probably within 10
• 17:04
  Speaker 2: years of retiring. It is absolutely... a tumultuous effect on
• 17:09
  Speaker 2: the trading markets and the volatility. There's no other way
• 17:12
  Speaker 2: around it.
• 17:13
  Speaker 1: Right.
• 17:14
  Speaker 2: All right.
• 17:14
  Speaker 1: So if, if, if we talked a little bit, stocks
• 17:18
  Speaker 1: of interest, sectors of interest, what, what, what are, what,
• 17:21
  Speaker 1: what do you say in those areas?
• 17:24
  Speaker 2: Well, I, I'm, I, I think that the semiconductor slash AI, uh,
• 17:29
  Speaker 2: power sectors and, uh, Overall technical and industrials and building
• 17:34
  Speaker 2: materials are potentially, again, not a recommendation, are potentially something
• 17:38
  Speaker 2: that could be bullish. And that's as much as I'm
• 17:40
  Speaker 2: allowed to say. I just can't go out and say, hey,
• 17:42
  Speaker 2: buy this and buy that. I'm just not allowed.
• 17:43
  Speaker 1: Right.
• 17:44
  Speaker 2: No. But I would be taking a look. I would
• 17:46
  Speaker 2: be taking a look at those things and researching it.
• 17:48
  Speaker 1: All right. So we're talking with John Arnold, Money Talks,
• 17:51
  Speaker 1: NewsRadio 570 WKBN. You are... Explain to people about the
• 17:57
  Speaker 1: hedge funds that you're talking about. Let's just take that
• 18:01
  Speaker 1: from the top so people know that are listening that
• 18:04
  Speaker 1: are familiar with John Arnold's, what you're up to as
• 18:07
  Speaker 1: far as this hedge fund is concerned, and details, please.
• 18:13
  Speaker 2: I could not be more excited to talk about this,
• 18:15
  Speaker 2: because our fund launch date is May 15th, which is
• 18:18
  Speaker 2: coming next week. I've been waiting for this day. I
• 18:22
  Speaker 2: got my investment management team ready. I got my third-party
• 18:24
  Speaker 2: administration ready. I got my auditing ready. I got everything
• 18:27
  Speaker 2: ready to go. I really wanted to go into this
• 18:30
  Speaker 2: with no stone unturned. We have investors lined up. We're
• 18:35
  Speaker 2: going to be sending invitations out probably tonight or tomorrow,
• 18:38
  Speaker 2: and that's that. So my investment management team, the head
• 18:43
  Speaker 2: guy on that, he finished number six in the country
• 18:46
  Speaker 2: in the competition that they had last year. He's that good.
• 18:51
  Speaker 2: We're going to be holding, I'm going to say, a
• 18:54
  Speaker 2: workshop or two this summer. I'm going to invite those
• 18:57
  Speaker 2: guys to it so they can talk. I'm going to talk.
• 18:59
  Speaker 2: And that's that. So let's talk about what it's going
• 19:02
  Speaker 2: to be. It's going to be a long short fund,
• 19:05
  Speaker 2: mostly macro, which I'll talk about what that means here
• 19:08
  Speaker 2: in a second. But basically I'm trying to pick more losers,
• 19:13
  Speaker 2: or excuse me, winners than losers. But even my losers,
• 19:16
  Speaker 2: believe it or not, will be winners if I short
• 19:18
  Speaker 2: the correct markets. or our investment management team will win.
• 19:22
  Speaker 2: It's going to be 100 investors. It's going to be
• 19:24
  Speaker 2: just like the big city ones in New York City
• 19:26
  Speaker 2: and Chicago. I can't stress enough to you, if you
• 19:31
  Speaker 2: have a Rockport wealth investment portfolio, I cannot accept that money.
• 19:34
  Speaker 2: I have a strict law of compete. Plus, those are
• 19:37
  Speaker 2: guys are my friends, and I wouldn't do that to them.
• 19:40
  Speaker 2: So money is not going to be had from that.
• 19:43
  Speaker 2: But if there's additional money and or, I should say,
• 19:45
  Speaker 2: other investors that are interested, we're going to have a
• 19:49
  Speaker 2: phone number next week to give out, a website. I'm
• 19:52
  Speaker 2: doing the podcast, in my case, on Youngstown Studio. There's
• 19:57
  Speaker 2: all kind of things lined up educational-wise. And just like
• 20:01
  Speaker 2: I used to deal with the investment business.
• 20:05
  Speaker 1: But so everyone understands, you are starting your own hedge fund. Yes. Yours.
• 20:10
  Speaker 1: It'll be yours. You're taking, when it's underway, 100. It's
• 20:17
  Speaker 1: capped at 100 investors to be a part of this
• 20:22
  Speaker 1: group of investors in your hedge fund, correct?
• 20:26
  Speaker 2: Yes. By law, they're called limited partners. They're actually going
• 20:29
  Speaker 2: to be a partner of the hedge fund.
• 20:32
  Speaker 1: And explain... Explain it a little bit better so we
• 20:35
  Speaker 1: can understand it. So, okay, these 100 people, take it
• 20:38
  Speaker 1: from there.
• 20:39
  Speaker 2: Okay, these 100 people are going to be shareholders of
• 20:41
  Speaker 2: the actual fund. For instance, when I used to do
• 20:44
  Speaker 2: the RA side, the registered investment advisory side, where I had,
• 20:47
  Speaker 2: I want to say, just by memory, like 1,800 investors,
• 20:50
  Speaker 2: and I think by memory, like 336 million, and then
• 20:54
  Speaker 2: we got an additional 100. Let's just call it 350
• 20:57
  Speaker 2: million for even numbers, okay? You owned your own account.
• 21:02
  Speaker 2: Your own portfolio is your own portfolio. That is not
• 21:04
  Speaker 2: the case here. You're actually an owner, a limited partner
• 21:07
  Speaker 2: of the fund. And the reason why I have it
• 21:09
  Speaker 2: as a limited partner is because, God forbid, let's say
• 21:11
  Speaker 2: I suck. Let's say I do something that kills the fund.
• 21:14
  Speaker 2: Let's just say I'm a complete a-hole, all right? And
• 21:17
  Speaker 2: I do something that hurts the fund. You're not legally
• 21:19
  Speaker 2: liable now. You're a limited partner. However, you get the
• 21:23
  Speaker 2: benefits of the upside of the fund. And so imagine
• 21:26
  Speaker 2: a big pie. You own a slice of that pie.
• 21:29
  Speaker 3: And..
• 21:30
  Speaker 2: If the fund goes up as a whole, that's your
• 21:32
  Speaker 2: slice of pie goes up with it. You're going to
• 21:35
  Speaker 2: get a monthly login that shows the yield and the
• 21:37
  Speaker 2: return on investment. It's audited. It's real-time. It's done out
• 21:42
  Speaker 2: of my hands, which means that what you're looking at
• 21:44
  Speaker 2: is real, so that's why I have what's called a
• 21:46
  Speaker 2: third-party administrator so I can't fudge the numbers. The whole thing,
• 21:52
  Speaker 2: the system is legitly built to reward success if I'm successful.
• 21:57
  Speaker 2: I can't promise success. But if I'm successful at it,
• 22:01
  Speaker 2: there's going to be a lot, a lot of winners.
• 22:03
  Speaker 2: And when I have the guys that are part of
• 22:04
  Speaker 2: my management team, when I say management, I mean the
• 22:06
  Speaker 2: fund management team come on the show and talk. I'm
• 22:09
  Speaker 2: going to have them tell you about the numbers. When
• 22:12
  Speaker 2: I say the numbers, I mean ridiculous numbers. Like when
• 22:16
  Speaker 2: somebody says, well, I made this return last year, they
• 22:18
  Speaker 2: would say, show me. There's no way you did that. Well,
• 22:22
  Speaker 2: I'll let the results speak for themselves that are audited,
• 22:25
  Speaker 2: by the way. So we're going to have those guys
• 22:26
  Speaker 2: talk about that on future programs. on future podcasts. We're
• 22:30
  Speaker 2: going to get on Zoom calls with investors explaining our theories.
• 22:34
  Speaker 1: Hold that thought. Hold that thought. We're going to come
• 22:35
  Speaker 1: back and pick it up right there. This is important
• 22:39
  Speaker 1: for folks to understand. Back with John Arnold, Money Talks,
• 22:42
  Speaker 1: NewsRadio 570. And Ron Furman, NewsRadio 570. We end with John,
• 22:45
  Speaker 1: who's joining us tonight until 7 o'clock. Just so people understand,
• 22:53
  Speaker 1: this is different than the things, obviously, you've done in
• 22:56
  Speaker 1: the past. Just so people understand, you basically sold the
• 23:03
  Speaker 1: firm to the Rockport guys and retired, right? Talk a
• 23:08
  Speaker 1: little bit about that. Then I want to go.
• 23:10
  Speaker 2: I'm a little bit of a consultant, but I have
• 23:12
  Speaker 2: very little bit of a firm. I'm not allowed to talk,
• 23:15
  Speaker 2: but just know, just be positive. We would get into...
• 23:19
  Speaker 2: Some advertising compliance issues, if I talked how good they were.
• 23:22
  Speaker 2: So I just know this, I kind of basically retired
• 23:27
  Speaker 2: and my dream has always been to run my own
• 23:29
  Speaker 2: hedge fund. This has allowed me to do that. And, uh,
• 23:34
  Speaker 2: between the money and more importantly, the time. And I
• 23:37
  Speaker 2: got to tell you, since I retired, some, I retired,
• 23:39
  Speaker 2: whatever you want. I had been going out on my nuts.
• 23:42
  Speaker 2: I mean, just absolutely bad. You know what? Crazy. And, uh,
• 23:45
  Speaker 2: This is my baby. This is where it's me, the
• 23:50
  Speaker 2: man in the arena. The man in the arena means
• 23:52
  Speaker 2: it's me versus me. Here's what I'm doing. No excuses.
• 23:57
  Speaker 2: No market excuses. No, there's a bad market. It's me
• 24:01
  Speaker 2: versus whoever's coming out in the arena to battle me
• 24:03
  Speaker 2: with a sword, which is the stock market. And that's that.
• 24:06
  Speaker 2: All right.
• 24:07
  Speaker 1: Now, just bear with me as I ask you these questions.
• 24:10
  Speaker 2: All right.
• 24:12
  Speaker 1: You've said, I'm going to start my own hedge fund.
• 24:14
  Speaker 1: This is my own hedge fund. You're in charge of
• 24:18
  Speaker 1: this hedge fund. You're in charge of picking what entities
• 24:23
  Speaker 1: are in it, correct? That's correct. What's in, what's out,
• 24:27
  Speaker 1: what's the sales, and all that kind of stuff. So
• 24:30
  Speaker 1: it's solely you. So the people that invest, the 100 people,
• 24:37
  Speaker 1: what's the criteria to become one of those 100?
• 24:42
  Speaker 2: Because it was called a 506C1 fund, I am allowed
• 24:44
  Speaker 2: to advertise to the general public. However, I am only
• 24:48
  Speaker 2: allowed 100 accredited investors. Accredited means $ 200, 000 a year in income,
• 24:54
  Speaker 2: the ability to put $ 200, 000 in it at any one time,
• 24:59
  Speaker 2: and or a million dollars in liquid assets, which means
• 25:03
  Speaker 2: that your house doesn't count. Right. Generally speaking, if you
• 25:08
  Speaker 2: heard in the past the term hedge fund, you think
• 25:09
  Speaker 2: about multi-millionaires or billionaires, and that's what they go into.
• 25:13
  Speaker 2: There's a reason why they go into. I'm building a
• 25:17
  Speaker 2: fund that is going to allow someone who has a
• 25:19
  Speaker 2: couple bucks that would be considered in our area, I think,
• 25:22
  Speaker 2: moderately wealthy, but in like Palm Beach. The majority of
• 25:26
  Speaker 2: the people here, they have that kind of wealth. So
• 25:29
  Speaker 2: I'm building a fund, a hedge fund, that would be
• 25:32
  Speaker 2: appealing to somebody that normally could not get into Millennium
• 25:36
  Speaker 2: or Citadel, which is a $ 40 billion hedge fund that
• 25:40
  Speaker 2: you have a minimum of $ 10 million, $ 20 million. I'm
• 25:41
  Speaker 2: just making up numbers to get into it. I'm allowing
• 25:45
  Speaker 2: the average wealthy guy to say, hey, give me a shot.
• 25:48
  Speaker 2: The way I'm going to get paid is on performance only.
• 25:53
  Speaker 2: You're going to get a taste of the hedge fund world.
• 25:55
  Speaker 2: And if you don't like it, you can just get
• 25:56
  Speaker 2: your money back as liquid in 60 days or less.
• 26:00
  Speaker 2: You know, so I built a hedge fund that was
• 26:02
  Speaker 2: one that would keep me busy, one that utilized what
• 26:05
  Speaker 2: I think are my talents, and keep it liquid so
• 26:08
  Speaker 2: if they don't like it, they can just get their
• 26:09
  Speaker 2: money back, and then it's completely third-party administrated, which means
• 26:13
  Speaker 2: I don't have access to the money. And that's important
• 26:17
  Speaker 2: because how hedge funds in the past, like Bernie Madoff
• 26:19
  Speaker 2: or He had what's called an investment advisory firm, but
• 26:22
  Speaker 2: he also was tied to his own fund. I will
• 26:25
  Speaker 2: do this at a later show, which is called custody
• 26:28
  Speaker 2: of assets, but he had access to the money. I
• 26:31
  Speaker 2: have zero access to the money. I cannot physically get
• 26:35
  Speaker 2: to the client's money. It will have to go through
• 26:36
  Speaker 2: my administrator to get a check or a wire back
• 26:39
  Speaker 2: to the client. So there's a safety valve there. There's
• 26:42
  Speaker 2: also a safety valve in taking in the money. It's
• 26:44
  Speaker 2: got to go through directly to the custodian, which is
• 26:46
  Speaker 2: Interactive Brokers. So I like to identify the safety valve
• 26:50
  Speaker 2: here because the first thing that's going to happen is
• 26:53
  Speaker 2: if I return the returns that I've been getting on
• 26:55
  Speaker 2: my own portfolio for the past month and the past year,
• 26:58
  Speaker 2: people say there's no way you can do that just
• 27:00
  Speaker 2: like you did in the past. He can't own this
• 27:02
  Speaker 2: kind of home or these exotic cars. He's got to
• 27:04
  Speaker 2: be stealing money. Complete idiot. It's false.
• 27:09
  Speaker 1: Can't do.
• 27:09
  Speaker 2: Physically can't do. So it's designed to protect the client
• 27:14
  Speaker 2: first from any kind of funny business. And secondly... it's
• 27:18
  Speaker 2: me answering for the client. They don't care. A hedge fund,
• 27:22
  Speaker 2: it doesn't matter which way the market's going, sideways, down,
• 27:25
  Speaker 2: or up. All it cares about at the end of
• 27:27
  Speaker 2: the month is, did you get me a positive return?
• 27:29
  Speaker 2: I don't care if you shorted eggs or worms or
• 27:34
  Speaker 2: if you went long on mid-cap. I'm just making stuff up.
• 27:37
  Speaker 2: The investors get a return at the end of the
• 27:39
  Speaker 2: month that's hopefully positive. And I think with the investment
• 27:45
  Speaker 2: management team that I picked, and that are behind me,
• 27:47
  Speaker 2: I think are going to be hard to beat.
• 27:50
  Speaker 1: And they can get that return by shorting stocks, by
• 27:53
  Speaker 1: the traditional way, any number of ways that you will
• 27:59
  Speaker 1: do this. And is this something that will be looked
• 28:02
  Speaker 1: at and dealt with by you on a daily basis?
• 28:05
  Speaker 2: I'm going to be the actual, we'll call it the
• 28:09
  Speaker 2: CCO and the CIO and the CEO all at one time.
• 28:13
  Speaker 2: Because when you have 100 people, investors versus what i
• 28:16
  Speaker 2: used to have before it's manageable so.
• 28:18
  Speaker 1: Right now you know the criteria is as an investor
• 28:22
  Speaker 1: let's say when you launch here on may 15th you
• 28:26
  Speaker 1: have to put in 200 000 no.
• 28:29
  Speaker 2: No 100 000 minimum 50 000 thereafter i have discretion
• 28:35
  Speaker 2: to to make that number smaller if i like and
• 28:38
  Speaker 2: let's call my ppm but i'm not going to i'm
• 28:40
  Speaker 2: going to stick to that.
• 28:42
  Speaker 1: So your initial investment will be $ 100, 000 into it, and
• 28:47
  Speaker 1: then $ 50, 000 later, additional.
• 28:50
  Speaker 2: That is correct, though.
• 28:51
  Speaker 1: All right. And then that money goes in, and then
• 28:55
  Speaker 1: you are going to manage that money in the hedge
• 28:58
  Speaker 1: fund to get your hope and wish and all that
• 29:04
  Speaker 1: good returns for the client. Right? Did I lose him?
• 29:12
  Speaker 1: Maybe I did. John, I think I lost him for
• 29:16
  Speaker 1: a second. Well, you have to give me a reconnect
• 29:21
  Speaker 1: with the program. So that's– I definitely lost him there.
• 29:26
  Speaker 1: So he'll give me a holler back. So that is
• 29:28
  Speaker 1: the hedge fund that is starting– that he's starting. So
• 29:32
  Speaker 1: you know what– this should be John.
• 29:34
  Speaker 2: John? Yeah, can you hear me okay?
• 29:36
  Speaker 1: Yeah, I got you now. Sorry, Bob.
• 29:38
  Speaker 2: Our phones on here are connected to this.
• 29:40
  Speaker 1: The Internet. Yeah, so $ 100, 000 initially, $ 50, 000 from that. You
• 29:45
  Speaker 1: manage it on an active basis, and people can sit
• 29:48
  Speaker 1: back and see how it goes. At any time, if
• 29:54
  Speaker 1: you want to get out, you can get out.
• 29:56
  Speaker 2: That is exactly right. That is exactly right.
• 29:59
  Speaker 1: All right, and this starts on May 15th?
• 30:02
  Speaker 2: That's correct. That's when we're going to take what's called
• 30:04
  Speaker 2: inflows from the LPs.
• 30:06
  Speaker 1: In other words, that's when people can join? Yeah.
• 30:10
  Speaker 2: Yeah, we can send out. We're going to start sending
• 30:13
  Speaker 2: out the invoices tonight and Monday. It's a long process.
• 30:17
  Speaker 2: It's not like putting money in a bank or money
• 30:19
  Speaker 2: in an RA or a broker-dealer. It's a process. So
• 30:23
  Speaker 2: if they submit May 15th, the money is going to
• 30:25
  Speaker 2: go in June. So I didn't want to take money
• 30:28
  Speaker 2: in before we were close to our opening date. So
• 30:31
  Speaker 2: that's the reason.
• 30:32
  Speaker 1: All right. And then when it opens... you will discuss
• 30:35
  Speaker 1: with those investors or they will know where you're going
• 30:40
  Speaker 1: as far as what your initial investments will be and
• 30:43
  Speaker 1: where you're putting it. And will they be able to
• 30:46
  Speaker 1: see your day-to-day moves?
• 30:48
  Speaker 2: No. No, that is not how it works. It's the
• 30:52
  Speaker 2: exact opposite of an investment portfolio like you would go
• 30:55
  Speaker 2: on TD Ameritrade or, excuse me, Charles Schwab or Fidelity
• 30:59
  Speaker 2: where you've seen all of your positions. You're going to get,
• 31:01
  Speaker 2: at the end of the month, what's called a NAV.
• 31:04
  Speaker 2: And that asset value is going to say, here's what
• 31:07
  Speaker 2: we took in. Here's the positives. Here's the negatives. Here's
• 31:10
  Speaker 2: the cause of the fund. Here's your yield. Here's what
• 31:14
  Speaker 2: you made. Return on investment for the month of, say, June. Okay.
• 31:20
  Speaker 2: Because what I think is going to make our fund,
• 31:22
  Speaker 2: I can't talk indefinite. I think what makes our funding
• 31:25
  Speaker 2: special is my secret sauce, right? So I'm not going
• 31:28
  Speaker 2: to give my secret sauce away to investors or a
• 31:31
  Speaker 2: fund that could copycat me, which would be like behind
• 31:35
  Speaker 2: Ketchik giving away their secret sauce. It would make no sense.
• 31:38
  Speaker 2: But they are all going to get a detailed website
• 31:42
  Speaker 2: they can log into that's independent and say, again, here's
• 31:45
  Speaker 2: the positives minus the negatives minus the cost. Here's what
• 31:48
  Speaker 2: you returned at the end of the month.
• 31:51
  Speaker 1: All right. So you'll know if you made money or
• 31:53
  Speaker 1: lost money or whatever. You'll know where that goes. Now,
• 31:57
  Speaker 1: I want you to go. I want you to go back.
• 31:58
  Speaker 1: And you were talking about some of these people that
• 32:00
  Speaker 1: will assist you. You're in charge of this, but you
• 32:03
  Speaker 1: were talking about this other guy, the sixth in the
• 32:06
  Speaker 1: country or whatever. Talk to me about these. There will
• 32:11
  Speaker 1: be other people assisting you. And how many? And talk
• 32:14
  Speaker 1: a little bit about that.
• 32:16
  Speaker 2: Yeah, the main guy that is probably the most important guy,
• 32:20
  Speaker 2: his name is Steve. He's been doing it a long time.
• 32:22
  Speaker 2: I mean, ridiculous wealth. He's one of these geniuses. I
• 32:27
  Speaker 2: believe he can build you an algo. He can build
• 32:30
  Speaker 2: you a quant. He's just mind-blowingly good. And I think
• 32:34
  Speaker 2: with him, especially with his ranking, and me with what
• 32:38
  Speaker 2: I do and how I do it, it's going to
• 32:40
  Speaker 2: give a nice return to the investors. I've got another
• 32:42
  Speaker 2: guy named Edward, which is our chief technology officer. And
• 32:46
  Speaker 2: then I've got another guy that's a chief marketing officer.
• 32:48
  Speaker 2: He's also going to be our compliance officer. And we're
• 32:52
  Speaker 2: going to have him on the show in the future.
• 32:55
  Speaker 2: And those are my teammates. Those are my teammates. And
• 32:57
  Speaker 2: then they're going to be there. What if I die?
• 33:00
  Speaker 2: What if I just can't manage the portfolio during the
• 33:03
  Speaker 2: middle of the day? I've got those guys as backup
• 33:06
  Speaker 2: and side-by-side to make sure that the clients are handled correctly.
• 33:09
  Speaker 1: All right. Thanks. And tell me a little bit about
• 33:14
  Speaker 1: this podcast that you started. I mean, you obviously got
• 33:17
  Speaker 1: the radio show that you do here to say, OK, hey,
• 33:21
  Speaker 1: I retired. I'm back. And this is now what I've
• 33:25
  Speaker 1: always wanted to do, this hedge funds. So you're back
• 33:29
  Speaker 1: in a different form is what I want to say. OK,
• 33:32
  Speaker 1: I want to say John is back in a different form.
• 33:35
  Speaker 1: But tell me about the podcast that you're doing and
• 33:40
  Speaker 1: what's that all about?
• 33:42
  Speaker 2: Yeah, I mean, you and I have been doing that, what,
• 33:44
  Speaker 2: since 2006 together, I think, by memory. And I loved it.
• 33:47
  Speaker 2: I loved every minute of it. And the main thing is, one,
• 33:50
  Speaker 2: I got clients off, obviously. But more importantly, I loved
• 33:52
  Speaker 2: educating the audience. I love, and I think, by the
• 33:55
  Speaker 2: way I talk, and hopefully you confirm this, I talk
• 33:58
  Speaker 2: real talk. I try to talk in terms where the
• 34:01
  Speaker 2: average listener on iHeart can understand it. And I think
• 34:04
  Speaker 2: it's been a value to the audience, and it's definitely
• 34:06
  Speaker 2: been a value to me. I've got a lot of relationships,
• 34:08
  Speaker 2: often including yours. And what a great positive experience. So
• 34:14
  Speaker 2: I've always wanted to podcast the show as well. So
• 34:17
  Speaker 2: I team up with Joe Dania and BJ Lesko, who's
• 34:19
  Speaker 2: the operator down there. And then I took my guy
• 34:24
  Speaker 2: that I used to do the WFMJ afternoon stock report with,
• 34:28
  Speaker 2: Mike Case, who I had a great relationship with. He's
• 34:30
  Speaker 2: a client. And we just melt together. We just feed
• 34:34
  Speaker 2: off each other beautifully. And we're doing the podcast. It's
• 34:37
  Speaker 2: every Wednesday night, 5 to 6 to 7. No, no, no.
• 34:40
  Speaker 2: I'm sorry, 5 to 6. You can turn into YouTube
• 34:44
  Speaker 2: or Apple or iHeart, the podcast on there. You can
• 34:47
  Speaker 2: see it live on YouTube at Youngstown Studios. It's raw.
• 34:51
  Speaker 2: It's Joe Rogan style. But it's also very educational. The
• 34:56
  Speaker 2: more time we get into it and the more I
• 34:59
  Speaker 2: get comfortable with it, I'm going to start taking calls
• 35:02
  Speaker 2: off and on the air, address those. But it's just
• 35:05
  Speaker 2: going to be very much like the show here where
• 35:07
  Speaker 2: it's very informative and educational. My case is, like you,
• 35:12
  Speaker 2: just an amazing talent. And it's an easy listen on
• 35:15
  Speaker 2: the ride home. So I really encourage people, again, to
• 35:19
  Speaker 2: Money Talks podcast, Youngstown Studios from 5 to 6 on Wednesdays.
• 35:23
  Speaker 1: All right. And that's audio and video that people can watch?
• 35:28
  Speaker 2: That's audio and video.
• 35:30
  Speaker 1: And you're saying it's live on Wednesdays at 5 o'clock.
• 35:33
  Speaker 2: Yes, sir.
• 35:34
  Speaker 1: All right, just like this program is live on Thursdays
• 35:39
  Speaker 1: at 6 o'clock, and people can catch that on, you said,
• 35:43
  Speaker 1: YouTube or various entities, right?
• 35:47
  Speaker 2: Yeah, we're on a bunch of formats and conduits as
• 35:50
  Speaker 2: far as that podcast goes. Just like if you ever
• 35:53
  Speaker 2: want to listen to the show, you can go to
• 35:54
  Speaker 2: the iHeartMe app and do that. If you want to
• 35:56
  Speaker 2: catch it on a later date, the same thing can
• 35:58
  Speaker 2: apply at YouTube and Apple and iHeart for this show.
• 36:01
  Speaker 1: Right. All right. John Arlitz, our guest, Money Talks, NewsRadio 570.
• 36:07
  Speaker 1: I mean, when you talk about taking calls on that
• 36:09
  Speaker 1: podcast and that kind of stuff, there's so many restrictions
• 36:12
  Speaker 1: you guys have as far as talking individual stocks or
• 36:16
  Speaker 1: making requirements and that kind of stuff. That stuff still
• 36:18
  Speaker 1: all applies, correct?
• 36:21
  Speaker 2: It does. And let me tell you, so I do
• 36:23
  Speaker 2: some research because I really want to be, I really
• 36:26
  Speaker 2: want to kind of be like a Jim Cramer or
• 36:28
  Speaker 2: a Susie Orman type personality to where, I could recommend something,
• 36:31
  Speaker 2: or I could say this is a yay or a nay,
• 36:32
  Speaker 2: but I don't know how they slip their compliance, but
• 36:36
  Speaker 2: they are allowed to do it. And I look, because
• 36:38
  Speaker 2: I want to have a current investment license, even though
• 36:41
  Speaker 2: I'm not registered, SEC really frowns on that. So I really,
• 36:45
  Speaker 2: as much as I want to, say someone call in
• 36:47
  Speaker 2: and say, hey, what do you think about XYZ stock?
• 36:50
  Speaker 2: I really want to say, yes, a year, name, here's
• 36:52
  Speaker 2: the reason why, and here's the technicals and all the
• 36:55
  Speaker 2: crap that comes with it, but I can't. So I've
• 36:57
  Speaker 2: got to talk in summary and generalities, and I can
• 36:59
  Speaker 2: still do that. But what I want is somebody to
• 37:02
  Speaker 2: call me off the air, even if they're not an investor,
• 37:04
  Speaker 2: and say, hey, John, give me the breakdown. And I
• 37:06
  Speaker 2: can ask them, what's your investment tolerance, what's your education?
• 37:10
  Speaker 2: I want to make sure whatever advice I'm giving you,
• 37:13
  Speaker 2: paid or not paid, is useful to you, but more importantly,
• 37:17
  Speaker 2: doesn't hurt you. Because if you have $ 100, 000 to your
• 37:19
  Speaker 2: name and you want to put all your money in
• 37:22
  Speaker 2: the small cap or micro caps or whatever and you
• 37:25
  Speaker 2: lose your ass, I'm liable. It is crazy. That sounds
• 37:28
  Speaker 2: even though you're getting unsolicited free advice. So I really
• 37:32
  Speaker 2: got to stay to the compliance restrictions. And if I
• 37:36
  Speaker 2: ever figure out a way to get around that, I
• 37:39
  Speaker 2: will as far as legally. But right now, they just
• 37:43
  Speaker 2: don't like you talking above generalities and summaries.
• 37:48
  Speaker 1: Do you think when you mentioned about AI earlier in
• 37:52
  Speaker 1: the broadcast, do you think AI is going to change
• 37:55
  Speaker 1: this whole process when you talk about investing as far
• 38:01
  Speaker 1: as just how people can rely on it or don't
• 38:05
  Speaker 1: rely on it or the trades that are taking place?
• 38:09
  Speaker 1: What effect do you think AI is going to have
• 38:12
  Speaker 1: long term on the market?
• 38:15
  Speaker 2: I'm going to tell you something that's very powerful and
• 38:17
  Speaker 2: very threatening, and it's an opinion. I think AI is
• 38:22
  Speaker 2: going to bankrupt this country in the next 10 years.
• 38:24
  Speaker 2: I think it's going to push us over the top
• 38:26
  Speaker 2: to socialism. I think that's why digital currency has been introduced.
• 38:31
  Speaker 2: I think the 2020 COVID crisis showed people that socialism
• 38:35
  Speaker 2: can work to an extent, and it also shows all
• 38:39
  Speaker 2: the crazy inflation that came off of that. So to
• 38:42
  Speaker 2: answer your question directly, I wish that some politician had
• 38:46
  Speaker 2: the balls and the energy to say, we've got to
• 38:49
  Speaker 2: stop this son of a gun right in his tracks.
• 38:51
  Speaker 2: Because let me tell you something. I hate to say it.
• 38:54
  Speaker 2: In 10 years, a quant, which is an AI hedge fund,
• 38:57
  Speaker 2: is going to destroy general head-to-head. As good as I
• 38:59
  Speaker 2: think I am and as good as my guys are,
• 39:02
  Speaker 2: I think that a quant, which is an AI strategy
• 39:05
  Speaker 2: and an algorithm, is going to destroy every investment guy
• 39:09
  Speaker 2: in the world. out there will not be able to compete.
• 39:12
  Speaker 2: They can make trades faster. They can analyze charts faster.
• 39:15
  Speaker 2: They have access to news faster. And we're just getting started.
• 39:19
  Speaker 2: And so if you don't believe me, they have made robots,
• 39:24
  Speaker 2: which have AI chips in them, beating marathon runners in marathons.
• 39:30
  Speaker 2: They are just now getting started. If you can imagine
• 39:34
  Speaker 2: where that's going to go in the next 10 years...
• 39:39
  Speaker 2: I'm really, I'm in fear.
• 39:43
  Speaker 1: Even they're saying, Meta the other day, I think, laid
• 39:46
  Speaker 1: off 9,000 people as a result of.
• 39:48
  Speaker 2: I thought it was 10.
• 39:49
  Speaker 1: Maybe it was 10, artificial intelligence. And you say it's
• 39:52
  Speaker 1: just getting going. I was reading where between now and
• 39:55
  Speaker 1: three years, John, now in three years, you could see
• 39:58
  Speaker 1: up to 50% of the people in white-collar jobs lose
• 40:02
  Speaker 1: their job as a result of AI technology.
• 40:05
  Speaker 4: Yep.
• 40:06
  Speaker 2: So here's why this should scare you if you're an electrician, plumber, drywall,
• 40:12
  Speaker 2: skilled tradesman. Because right now, those guys on the front
• 40:17
  Speaker 2: cover of the magazine should be salivating. Oh, you know what?
• 40:21
  Speaker 2: This means double, triple wages because supply and demand is
• 40:23
  Speaker 2: going to be in our favor. Who the hell do
• 40:25
  Speaker 2: you think is going to hire them if they don't
• 40:27
  Speaker 2: have a job? That's why I really encourage, if you're
• 40:30
  Speaker 2: a labor union president, and I'm a pro-labor union guy,
• 40:32
  Speaker 2: by the way, If you're a labor union guy, you
• 40:37
  Speaker 2: should be pounding on your senators and congressmen and your
• 40:40
  Speaker 2: leaders and say, please get this AI, get it constricted,
• 40:44
  Speaker 2: please handcuff this thing to where it's helpful enough, but
• 40:47
  Speaker 2: it's not putting people out of jobs. Because if they don't,
• 40:50
  Speaker 2: there's not going to be anybody to build houses. There's
• 40:52
  Speaker 2: not going to be anybody to hire for plumbers. There's
• 40:54
  Speaker 2: not going to be anybody to buy your car if
• 40:57
  Speaker 2: you're a mechanic, blah, blah, blah, blah. I can go
• 41:00
  Speaker 2: on and on. And I know you, Ron, you like
• 41:02
  Speaker 2: real talk, and you've been reading like I've been reading,
• 41:05
  Speaker 2: because you have the data. I am very scared of
• 41:09
  Speaker 2: private equity, algorithms, and AI taking over the world. When
• 41:14
  Speaker 2: a guy like Elon Musk talks about five or six
• 41:17
  Speaker 2: years ago that he is legitly scared of how good
• 41:21
  Speaker 2: this stuff can be and what it can do to
• 41:22
  Speaker 2: their economy, hey, Ron, I'm listening. And there's other experts
• 41:26
  Speaker 2: that say the same thing.
• 41:27
  Speaker 1: Right. And there's many of these experts that say what
• 41:31
  Speaker 1: I'm being told about AI is underselling it, not overselling it.
• 41:37
  Speaker 1: It's underselling it. It's not telling you how effective it
• 41:41
  Speaker 1: truly is going to be, but from your conversation, you're
• 41:44
  Speaker 1: basically saying, hey, if this guy doesn't have a job,
• 41:47
  Speaker 1: we're a consumer-based economy, and if this guy doesn't have
• 41:50
  Speaker 1: a job to spend to build a new house or
• 41:52
  Speaker 1: to add an addition on, that affects the guy who
• 41:55
  Speaker 1: is the drywaller or the plumber, or it's a trickle-down effect.
• 42:00
  Speaker 2: Here's what it's going to be. It's going to be
• 42:01
  Speaker 2: skilled tradesmen hiring skilled tradesmen. And listen, you're talking to
• 42:05
  Speaker 2: the guy who's the operative of skilled tradesmen. I can't
• 42:07
  Speaker 2: even change my oil rate. So it takes guys like me.
• 42:11
  Speaker 2: It takes bakers. It takes computer programs. It takes everybody
• 42:15
  Speaker 2: to employ the economy, right? If you run out of
• 42:18
  Speaker 2: those people, who's going to employ anybody? And I'm going
• 42:21
  Speaker 2: to say what's going to happen. The government's going to
• 42:22
  Speaker 2: take control. You're going to get X amount of dollars
• 42:25
  Speaker 2: and X amount of house. It's going to be a
• 42:26
  Speaker 2: European-style economy. The top 10% are going to control the
• 42:30
  Speaker 2: economy and the wealth and the power in this country.
• 42:32
  Speaker 2: And you're up a creek with no paddle. And I'm very–
• 42:36
  Speaker 2: I don't like– I hate these– I'm not a scared
• 42:38
  Speaker 2: kind of guy. I don't run with my tail between
• 42:41
  Speaker 2: the legs. I do the opposite, unfortunately, sometimes. I hate
• 42:44
  Speaker 2: using the word fear, and I hate using the word scared.
• 42:47
  Speaker 2: So when I tell you that, it's coming from the heart.
• 42:49
  Speaker 2: The things I'm reading, the things I'm seeing, the quants
• 42:52
  Speaker 2: I'm seeing on the AI hedge funds, how good they
• 42:55
  Speaker 2: are and how efficient they are, it's scary, Ron. It's
• 42:58
  Speaker 2: going to put insurance companies, attorneys, it's going to put
• 43:01
  Speaker 2: anybody that's white-collar to gray-collar, it's going to destroy them.
• 43:04
  Speaker 2: It is absolutely going to destroy them.
• 43:07
  Speaker 1: And your concern is, when you were talking about Elon Musk,
• 43:09
  Speaker 1: is he pretty well agrees with your comments. I mean,
• 43:13
  Speaker 1: he finds it very troubling what's ahead and basically says
• 43:17
  Speaker 1: there's got to be some type of guardrails put on
• 43:19
  Speaker 1: this before we reach that point.
• 43:22
  Speaker 2: And there is. And I think here's the thing. I
• 43:24
  Speaker 2: think between a lot of our congressmen and women and
• 43:26
  Speaker 2: senators being middle-aged to maybe upper-aged, I don't think they understand.
• 43:31
  Speaker 2: I don't think they get it. I think they're so
• 43:33
  Speaker 2: busy raising money for their own re-election campaigns that And
• 43:36
  Speaker 2: I think they're so busy doing what they're supposed to
• 43:38
  Speaker 2: do is protecting us, their constituents, and trying to do
• 43:41
  Speaker 2: the best for the American people that I don't think
• 43:43
  Speaker 2: they have the focus on what's coming. I think that
• 43:47
  Speaker 2: they're lacking because if they knew what was coming, I
• 43:51
  Speaker 2: truly think they would stop this AI right in its tracks.
• 43:53
  Speaker 2: I had a meeting. About three years ago, Bill Johnson,
• 43:56
  Speaker 2: he was a congressman. It was me, Chuck George, Jim Trussell.
• 44:00
  Speaker 2: There was a bunch of us, Holly Schwartz, et cetera.
• 44:03
  Speaker 2: We flew into Congress, had a meeting with them, and
• 44:07
  Speaker 2: the one thing that Bill Johnson had said, Congressman Johnson,
• 44:09
  Speaker 2: who's now president of the U.S.
• 44:11
  Speaker 1: U.S.U.
• 44:11
  Speaker 2: Said, just because we can doesn't mean we should. I
• 44:14
  Speaker 2: never forget him saying that because I really didn't understand
• 44:17
  Speaker 2: the gravity of what he was saying. Well, just because
• 44:19
  Speaker 2: we can doesn't mean we should. And now I understand
• 44:22
  Speaker 2: what he's meaning. Yeah. Can we create robots that can
• 44:25
  Speaker 2: perform mechanical duties better than the average bear or computer programs? Yes,
• 44:29
  Speaker 2: we can. Should we? Hell no. It's like, it's almost
• 44:33
  Speaker 2: like we see the doom coming, but for whatever reason,
• 44:36
  Speaker 2: we just don't give a rat's in a platoon and
• 44:38
  Speaker 2: we're letting it happen. So I really want the listeners
• 44:41
  Speaker 2: to be aware. Maybe you care, maybe you don't, but
• 44:44
  Speaker 2: there's a doomsday coming. I hope we can stop it
• 44:46
  Speaker 2: in its tracks.
• 44:48
  Speaker 1: Absolutely. And what effect does that have on the market if,
• 44:52
  Speaker 1: in fact, you have, as you say, a machine that
• 44:55
  Speaker 1: can work for everybody, if you will? It kind of just,
• 44:59
  Speaker 1: I don't even know where that leaves the stock market
• 45:01
  Speaker 1: because there would be no losers, one would think. There'd
• 45:03
  Speaker 1: only be winners based on the AI doing the same
• 45:07
  Speaker 1: thing for everybody.
• 45:09
  Speaker 2: Yeah, you're going to have people that have to learn
• 45:11
  Speaker 2: what I do. And believe me, that's no cup of tea.
• 45:14
  Speaker 2: I mean, to learn market technical analysis took me a
• 45:18
  Speaker 2: long time to really get it down. And secondly, do
• 45:20
  Speaker 2: you want to be stuck to a computer eight hours
• 45:22
  Speaker 2: a day or after hours trading and try to make
• 45:25
  Speaker 2: a win? Or do you have to rely on a
• 45:27
  Speaker 2: computer or a quad? So I don't know. It could
• 45:32
  Speaker 2: be detrimental to the market. It could be a winner.
• 45:34
  Speaker 2: I don't know. But what I do know is we
• 45:37
  Speaker 2: as Americans, we as humans are made to work. That
• 45:41
  Speaker 2: is what hunters and gatherers. It is going to be unnatural.
• 45:45
  Speaker 2: It is going to be wrong. And it's everything I
• 45:47
  Speaker 2: don't believe in where this AI is going.
• 45:49
  Speaker 1: Can you stop technology, though? The age-old arguments... when people
• 45:54
  Speaker 1: would say, whether it's robotics or any type of advance
• 45:57
  Speaker 1: in technology, is it even possible to stop it with
• 46:02
  Speaker 1: a world out there and a globe out there and
• 46:05
  Speaker 1: other countries that might not do that?
• 46:07
  Speaker 2: And there is a problem. If you've got China ahead
• 46:11
  Speaker 2: of us and Japan and Russia and whatever other superpower
• 46:15
  Speaker 2: country developing their AI and perfecting it, I guess humans,
• 46:20
  Speaker 2: where does that leave us? I think we leave AI
• 46:22
  Speaker 2: in the government's hands and for defensive purposes only, obviously
• 46:26
  Speaker 2: to keep up with our competitors, which are Russia and China,
• 46:30
  Speaker 2: and keep it at that. But as far as the
• 46:32
  Speaker 2: human workforce, I think we shut it down and cap
• 46:35
  Speaker 2: it where it's at. It's good enough right now to
• 46:37
  Speaker 2: help you throughout the day, but it's going to develop
• 46:40
  Speaker 2: into its own supercomputer. Gronk has developed its own version
• 46:44
  Speaker 2: of itself on its own. which is Google's AI. I
• 46:48
  Speaker 2: want you to think about it. A robot made another
• 46:50
  Speaker 2: robot version, better version of itself, without somebody programming it.
• 46:54
  Speaker 2: It did it on its own. That's how powerful it is.
• 46:58
  Speaker 1: I mean, when you think about this, it is troubling.
• 47:02
  Speaker 1: And what you're talking about, once again, as I like
• 47:05
  Speaker 1: to say, this isn't 20 years from now. We're talking
• 47:09
  Speaker 1: within three years. We're talking in a very short period
• 47:12
  Speaker 1: of time for a lot of this to materialize.
• 47:15
  Speaker 2: Hey, Ron, I don't know about you, but I know
• 47:18
  Speaker 2: you're older than me. I'm 50 years old. I can't
• 47:20
  Speaker 2: keep up with technology. Just when I got the damn..
• 47:25
  Speaker 1: You brought a great point up. I remember watching when
• 47:27
  Speaker 1: they were interviewing these social media gurus, the people in Congress,
• 47:32
  Speaker 1: whether it was Zuckerberg or some of the other guys
• 47:36
  Speaker 1: of these different platforms. And I looked at these old
• 47:39
  Speaker 1: men in Congress talking to them, and it was clear
• 47:42
  Speaker 1: they didn't understand a thing that these... guys were saying.
• 47:46
  Speaker 1: They were totally out of touch with the technology. It
• 47:48
  Speaker 1: was way beyond their comprehension because of their age.
• 47:52
  Speaker 2: It was between a space shuttle and a horse and carriage.
• 47:54
  Speaker 2: It was that much of a band.
• 47:56
  Speaker 1: Right, but I watched that and I said, these guys
• 47:58
  Speaker 1: don't even understand. The questioning that they would ask was
• 48:02
  Speaker 1: just absolute stupidity. All right, this is John Arnold. It's
• 48:08
  Speaker 1: Thursdays from 6 to 7. Money Talks, News Radio 570 WKBN.
• 48:14
  Speaker 1: And on Wednesdays, you can also watch John Wednesdays from
• 48:20
  Speaker 1: 5 to 6, right, is the time on Wednesday.
• 48:23
  Speaker 2: Yeah, 5 to 6, or you can watch it later, obviously,
• 48:25
  Speaker 2: Youngstown Studios, Money Talks podcast with Mike and John. And
• 48:30
  Speaker 2: as always, hey, my man, I love talking with you
• 48:32
  Speaker 2: on the show. I love what you do with me,
• 48:33
  Speaker 2: and thank you, Keith and everybody.
• 48:36
  Speaker 1: Thank you. Thank you, John. Appreciate it.
• 48:38
  Speaker 2: Thank you.
• 48:38
  Speaker 1: It's going to be an interesting week because, as he said,
• 48:41
  Speaker 1: on May 1st, which is what's a week and a
• 48:45
  Speaker 1: day that he'll start his official John Arnold's, if you will,
• 48:50
  Speaker 1: hedge funds, which should be an interesting launch that we'll
• 48:54
  Speaker 1: be talking about here for those 100 investors in it.
• 48:59
  Speaker 1: All right. Appreciate you tuning in. Ron Verb, News Radio
• 49:01
  Speaker 1: 570 WKBN from the Kingdom of Mahoning. We leave here.
• 49:04
  Speaker 1: And to make way for Sean Hannity next, Guardians played
• 49:07
  Speaker 1: an afternoon game victorious today. So we've got a night
• 49:10
  Speaker 1: of Hannity and Joe Pags and coast to coast. We'll
• 49:14
  Speaker 1: talk to you tomorrow, right?
• 49:15
  Speaker 5: From ABC News, I'm Dave Packer. Residents in at least
• 49:23
  Speaker 5: three states are now being monitored for potential hantavirus infections.
• 49:26
  Speaker 5: All of them returned from the cruise ship that was
• 49:28
  Speaker 5: stuck by a deadly outbreak. So far, none have shown symptoms.
• 49:32
  Speaker 6: Meanwhile, the ship is going to be reaching the Canary Islands.
• 49:35
  Speaker 6: We're expecting that to happen, according to Spanish officials, by
• 49:39
  Speaker 6: mid-morning on Sunday. We're told that the ship will remain
• 49:43
  Speaker 6: anchored on the coast, and passengers will be examined on board,
• 49:47
  Speaker 6: and they will disembark with protective equipment. From there, they
• 49:51
  Speaker 6: will go onto a guarded vehicle and go to sort
• 49:55
  Speaker 6: of a closed-off area of the airport before they get
• 49:58
  Speaker 6: on a flight.
• 49:59
  Speaker 5: Another tariff nullified.
• 50:00
  Speaker 7: After the Supreme Court struck down his sweeping emergency tariffs
• 50:04
  Speaker 7: in February, the president moved to Plan B, a temporary 10%
• 50:07
  Speaker 7: tariff on all imports. But now, in a two-to-one ruling,
• 50:11
  Speaker 7: the New York-based Court of International Trade says the president
• 50:14
  Speaker 7: has not met the requirements of the law he invoked.
• 50:17
  Speaker 7: The judges acknowledged that the accounting term balance of payments
• 50:20
  Speaker 7: deficit might cause confusion, but they said it definitely does
• 50:23
  Speaker 7: not mean a trade deficit. In finding the 10% tariff unlawful,
• 50:27
  Speaker 7: they have limited their ruling to just a handful of importers,
• 50:30
  Speaker 7: saying other plaintiffs in the case lacked standing. Stephen Portnoy,
• 50:34
  Speaker 7: ABC News, Washington.
• 50:35
  Speaker 5: Officials in Iran now reportedly reviewing a one-page proposal from
• 50:39
  Speaker 5: the U.S. aimed at ending the war. And word from
• 50:42
  Speaker 5: CENTCOM that the U.S. conducted self-defense strikes against Iranian targets
• 50:46
  Speaker 5: after Iran fired at U.S. destroyers in the Strait of
• 50:49
  Speaker 5: Hormuz today. President Trump calling it, quote, just a love tap.
• 50:54
  Speaker 5: Cleanup in Mississippi, ABC's Faith Abubi and Purvis.
• 50:57
  Speaker 4: Officials say across Mississippi, at least three tornadoes touched down
• 51:01
  Speaker 4: last night. The winds were up to 80 miles per
• 51:04
  Speaker 4: hour in some places. Debris was an estimated 30,000 feet
• 51:08
  Speaker 4: in the air. But remarkably, only 17 injuries have been
• 51:11
  Speaker 4: reported so far and no.
• 51:13
  Speaker 8: Deaths as of yet. You're listening to ABC News. Summer
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  Speaker 8: days and high energy bills are on the way. Upgrade
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• 51:38
  Speaker 8: trust our family of brands, New South Window and Armor View.
• 51:41
  Speaker 8: That's 866-200-8670 or WindowNation.com to book a consultation.
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  Speaker 9: I've been telling you all about the secret war on
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  Speaker 9: our cash and the free report you can receive a
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  Speaker 9: copy of by contacting Swiss America at 800-289-2646. I'd also
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  Speaker 9: like to encourage you to subscribe to their podcast on YouTube.
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  Speaker 5: It's still not the $ 13 bargain fans were hoping for,
• 52:21
  Speaker 5: but New Jersey officials say World Cup train tickets to
• 52:24
  Speaker 5: MetLife Stadium next month will now cost $ 105 for a
• 52:28
  Speaker 5: round trip, down from $ 150. They say the price slash
• 52:31
  Speaker 5: is thanks to sponsors and other revenue sources who are
• 52:34
  Speaker 5: helping to offset the state cost. This week, first-time applications
• 52:38
  Speaker 5: for jobless benefits is up by 10,000. More out-of-work Americans
• 52:42
  Speaker 5: are mating. stubbornly above two hundred thousand for the last
• 52:45
  Speaker 5: four years tennessee's governor is set to sign off on
• 52:49
  Speaker 5: a newly redistricted congressional map following the supreme court's decision
• 52:52
  Speaker 5: barring racially drawn districts abc's brian clark.
• 52:55
  Speaker 3: Tennessee became the ninth state to redraw its congressional map
• 52:59
  Speaker 3: ahead of the midterms the general assembly acting quickly after
• 53:02
  Speaker 3: last week's supreme court decision The new map splits the
• 53:06
  Speaker 3: current 9th district, the only majority black district, into two.
• 53:10
  Speaker 3: It minimizes the impact of majority black Shelby County. It's
• 53:14
  Speaker 3: currently held by Congressman Steve Cohen, the only Democrat representing
• 53:18
  Speaker 3: Tennessee in Congress, and he says he'll sue to try
• 53:21
  Speaker 3: to stop the new map. Brian Clark, ABC News.
• 53:24
  Speaker 5: The United States Postal Service is reportedly considering a rule
• 53:27
  Speaker 5: change that would remove a ban on anyone sending handguns
• 53:30
  Speaker 5: through the mail. after officials from the Department of Justice
• 53:33
  Speaker 5: back in January called the 1927 law unconstitutional. Democratic Attorneys
• 53:39
  Speaker 5: General in two dozen states sent a letter this week
• 53:41
  Speaker 5: in opposition of the change.
• 53:43
  Speaker 1: Dave Packer, ABC News.
• 53:47
  Speaker 8: Hot summer days and high energy bills are on the way.
• 53:50
  Speaker 8: Upgrade your home's old leaky windows this month during WindowNation's buy, forget,
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  Speaker 8: two years. Call now, 866-286-70 or WindowNation.com. In select markets,
• 54:08
  Speaker 8: trust our family of brands, New South Window and Armor View.
• 54:10
  Speaker 8: That's 866-286-70 or WindowNation.com to book a consultation.