Latest / Ron Verb / Thursday 6pm hour 05/14/26

Transcript

Thursday 6pm hour 05/14/26 · Ron Verb

• 0:00
  Speaker 1: I can think of nothing more interesting than talking about money.
• 0:04
  Speaker 1: Making it. What to do with it. Money and so
• 0:07
  Speaker 1: many aspects of it, folks. We're all affected by it. Inflation.
• 0:11
  Speaker 1: Cost of gasoline. Where's the economy heading? What about stocks
• 0:16
  Speaker 1: and bonds and annuities? Making money. Retiring and staying even
• 0:21
  Speaker 1: with the demands. There's so much to talk about when
• 0:25
  Speaker 1: it comes to money, money, money. There's one guy that's
• 0:29
  Speaker 1: I'm going to tell it like it is. Here he is,
• 0:33
  Speaker 1: John Arnold. Hello, John.
• 0:34
  Speaker 2: Hey, Ron. How are you?
• 0:37
  Speaker 1: I am well. I always enjoy talking about that great
• 0:41
  Speaker 1: topic of money. And I always like to get your
• 0:45
  Speaker 1: opinion about the current situation and your input from the
• 0:49
  Speaker 1: very beginning of our program. Market conditions.
• 0:52
  Speaker 2: Well, thank you. Yeah, well, let me hit the disclosure
• 0:56
  Speaker 2: real quick. The Money Talk show is for informational purposes.
• 0:59
  Speaker 2: In educational purposes only, John Arnold is not currently a
• 1:02
  Speaker 2: registered investment advisor and nothing on this show is personalized
• 1:06
  Speaker 2: investment advice. Please consult your own licensed financial and or
• 1:10
  Speaker 2: tax professional before making any investing decisions. All investing involves
• 1:14
  Speaker 2: the risk of loss of principal. That's it. You can
• 1:17
  Speaker 2: go to work.
• 1:18
  Speaker 1: All right. Analysis, please.
• 1:21
  Speaker 3: Wow.
• 1:22
  Speaker 2: Big picture today. The market showed a ton of resistance today,
• 1:27
  Speaker 2: even with the oil crisis and the inflation crisis. And
• 1:30
  Speaker 2: that's an opinionating thing. That's me talking. I guess the
• 1:36
  Speaker 2: potential talks in China, no one knows, are going really
• 1:40
  Speaker 2: well between Trump and Xi. And hopefully he's going to
• 1:44
  Speaker 2: bring back some good news and we've got more of
• 1:46
  Speaker 2: an ally than an enemy in China. So Markets like that.
• 1:50
  Speaker 2: The S & P closed 7,444, up about 0.5%, another
• 1:53
  Speaker 2: record high. NASDAQ up 1.2%, 26,402, another record high. And
• 1:55
  Speaker 2: the Dow Jones was softer a little bit. It went
• 2:00
  Speaker 2: up a little bit at 49,693. I mean, it did
• 2:12
  Speaker 2: cross in the middle of the day, that $ 50, 000 mark,
• 2:15
  Speaker 2: but it came back down before the close. But overall,
• 2:19
  Speaker 2: hell of a day. I had a crazy day in
• 2:23
  Speaker 2: my trading account today, the first time ever. No, this
• 2:26
  Speaker 2: is the third time ever I've made more than $ 100, 000
• 2:27
  Speaker 2: in one day in my account, just day trading. And
• 2:33
  Speaker 2: that's an account, by the way, that I just use
• 2:35
  Speaker 2: for day trading, and I don't advise people doing that
• 2:38
  Speaker 2: that are inexperienced, but I mean, I'm in a good mood.
• 2:43
  Speaker 2: I just had a superior day today.
• 2:45
  Speaker 1: The great thing I love, though, folks, I'm just going
• 2:47
  Speaker 1: to tell all of you this. The thing that I
• 2:49
  Speaker 1: love about John Arnold is John Arnold will be the
• 2:51
  Speaker 1: first one to tell you, incidentally, when he loses $ 100, 000
• 2:55
  Speaker 1: or $ 150, 000. Right, John? I mean, tell many of these people,
• 3:00
  Speaker 1: and I've seen them all my life. They always tell me, boy,
• 3:02
  Speaker 1: you know, I won this much in the lottery or
• 3:05
  Speaker 1: I won this much sports gambling. They always tell me
• 3:07
  Speaker 1: about the wins. They never tell me about the losses.
• 3:10
  Speaker 1: John Arnold tells you about the wins and the losses.
• 3:14
  Speaker 2: Well, let me tell you about the significant loss I
• 3:16
  Speaker 2: had in that account. Thankfully, I built it back up
• 3:19
  Speaker 2: and it's profitable again, but I lost over a million
• 3:22
  Speaker 2: dollars in that account in March. I got destroyed on silver,
• 3:25
  Speaker 2: and I got a short squeeze on a VEX component
• 3:29
  Speaker 2: that I was shorting. And we're going to talk about
• 3:31
  Speaker 2: a short squeeze here probably by the end of the show,
• 3:33
  Speaker 2: which is by far the riskiest thing you can do. But,
• 3:37
  Speaker 2: you know, it has not always been silver and gold.
• 3:41
  Speaker 2: There's times where I just hit it great. I think
• 3:44
  Speaker 2: I hit $ 190, 000. in games a couple days ago. It
• 3:48
  Speaker 2: was a crazy trading day. Oh, it was when supposedly
• 3:52
  Speaker 2: the Iran-American War was over, and it really isn't, as
• 3:56
  Speaker 2: we know. But that day, it was purported that it was,
• 3:59
  Speaker 2: and I just made a ridiculous amount of money. And
• 4:01
  Speaker 2: then today, I had another $ 100, 000. And so those are rare,
• 4:03
  Speaker 2: but You know, it's a recovery. It's not like I
• 4:07
  Speaker 2: hit those all the time. I got some losing months,
• 4:11
  Speaker 2: and it's not all rose petals. So I appreciate you
• 4:16
  Speaker 2: taking the time to talk about that.
• 4:18
  Speaker 1: What is it like, like you say, you're in a
• 4:20
  Speaker 1: good mood and you should be. What is it like, though,
• 4:23
  Speaker 1: when you take a huge loss? I mean, is it
• 4:25
  Speaker 1: one of those days when you just think, where did
• 4:27
  Speaker 1: I go wrong, or shake your head, or what's that
• 4:30
  Speaker 1: like for our listeners?
• 4:32
  Speaker 2: Very, it's always disappointing to myself. And it's because of
• 4:37
  Speaker 2: my stubbornness. I would tell you, anybody that knows money,
• 4:40
  Speaker 2: and I think I know money as good as anybody,
• 4:43
  Speaker 2: I do. And it always falls back on you. It
• 4:48
  Speaker 2: was right in front of my face. Silver was way overbought.
• 4:52
  Speaker 2: And like an ass, I didn't put in my stop
• 4:54
  Speaker 2: limit orders. I didn't put in my protection, right? I
• 4:59
  Speaker 2: didn't buy puts. I didn't put in stop laws or
• 5:02
  Speaker 2: stop limit orders. I just took it on the chin
• 5:04
  Speaker 2: and it fell through. And once it falls through, you
• 5:06
  Speaker 2: can't catch it, meaning, like, it opened up significantly down.
• 5:10
  Speaker 2: And unless you want to, you know, eat a 20% loss,
• 5:14
  Speaker 2: you're stuck in it. Now, silver's been on a tear since. So,
• 5:17
  Speaker 2: you know, I made a little bit of that gain
• 5:20
  Speaker 2: up from the losses. But my answer to your question
• 5:24
  Speaker 2: is I'm mad at myself. I'm pissed. I can't even
• 5:27
  Speaker 2: be talked to during the day by my family because
• 5:29
  Speaker 2: I'm so mad at myself for being so greedy and foolish.
• 5:34
  Speaker 1: But it's almost– I don't want to say it's like
• 5:36
  Speaker 1: a game, but it is what you do. But when
• 5:38
  Speaker 1: you say like on a day like today, is that
• 5:40
  Speaker 1: making it in individual stocks or is that making it in– Yeah.
• 5:46
  Speaker 2: Well, I have a couple ETFs. I took some quick
• 5:50
  Speaker 2: hitters on like NASA and some other stuff. But the
• 5:54
  Speaker 2: bottom line is it's mostly individual stocks. I don't really
• 5:58
  Speaker 2: get into the options market because you're glued to the
• 6:01
  Speaker 2: computer for day trading those or– selling those, you're just stuck. So,
• 6:07
  Speaker 2: you know, I'm not stuck all day at the computer.
• 6:10
  Speaker 2: I went to lunch, I did some trades on my phone,
• 6:12
  Speaker 2: et cetera. And so I just basically make it in
• 6:17
  Speaker 2: equities that I kind of learn the volume on without
• 6:20
  Speaker 2: having to look to the indicators like the VWAP. I
• 6:23
  Speaker 2: can go on and on and on, but I guess
• 6:25
  Speaker 2: my point is, to your question, is that it's very
• 6:31
  Speaker 2: volatile and you get to go with the bad. And
• 6:34
  Speaker 2: when it's good, it's good. And when it's bad, it's
• 6:36
  Speaker 2: really bad.
• 6:38
  Speaker 1: I don't want you to say anything specific, but how
• 6:40
  Speaker 1: do you judge what stocks that you're going to... Talk
• 6:45
  Speaker 1: a little bit about the research you do before you say,
• 6:47
  Speaker 1: I'm buying this one today or this one today.
• 6:49
  Speaker 2: Oh, all right. I'm going to give a little bit
• 6:51
  Speaker 2: of my secret sauce away.
• 6:53
  Speaker 1: Well, not all of it and nothing by specific name.
• 6:55
  Speaker 2: I'm not an idiot. Plus, to tell you the truth, I'm...
• 6:58
  Speaker 2: To be honest with you, I'm so damn good at
• 6:59
  Speaker 2: what I do, I can give everybody probably a week
• 7:02
  Speaker 2: education course unless they try to compete against me, and
• 7:05
  Speaker 2: good luck to you. So I don't mind giving away it.
• 7:08
  Speaker 2: So I do a 20-stock scan in the morning. So
• 7:11
  Speaker 2: I subscribe to sites that do a scan, and I
• 7:15
  Speaker 2: look for high-volume, anything that's up more than 4% pre-market,
• 7:20
  Speaker 2: and then I target those, and then I have a
• 7:23
  Speaker 2: target price I set for myself, and I watch the volume.
• 7:27
  Speaker 2: And sometimes I have no idea what even the company does,
• 7:30
  Speaker 2: but I just look at the technical analysis, and I
• 7:33
  Speaker 2: look at the VWAP, and I look at a certain
• 7:35
  Speaker 2: trading pattern in it, and I have, you know, a
• 7:40
  Speaker 2: 20-day and 200-day moving averages set. I'm looking at that band.
• 7:47
  Speaker 2: And that's as much of the secret sauce I'm going
• 7:48
  Speaker 2: to give you, but there's a scientific theory that goes
• 7:53
  Speaker 2: into it. It's not always right, but it's been a
• 7:55
  Speaker 2: lot more right than wrong. And if someone, you know,
• 7:58
  Speaker 2: I don't do this anymore, but if you manage other
• 8:01
  Speaker 2: people's money, there was always a scientific reasoning for what
• 8:05
  Speaker 2: I did and how I did it. And it wasn't
• 8:06
  Speaker 2: always right, but like I said, it was more right
• 8:08
  Speaker 2: or wrong. But more importantly, if our investors called me
• 8:11
  Speaker 2: out on the table and said, how did you arrive
• 8:12
  Speaker 2: at this or how did you decide to pick XYZ
• 8:16
  Speaker 2: at this price? Whether they're happy or mad, I said, well,
• 8:19
  Speaker 2: here's my rebuttal. And I could just scientifically go through
• 8:22
  Speaker 2: how I arrived at that. And I beg you back
• 8:25
  Speaker 2: in a fundamental analysis, which is news. And you can't
• 8:29
  Speaker 2: argue with my decision. You can say, well, at least
• 8:32
  Speaker 2: he wasn't guessing at my investment. At least he had
• 8:34
  Speaker 2: a strategy. So that's my strategy. I have it every day.
• 8:38
  Speaker 2: And that's a science, unless I'm truly on a vacation.
• 8:42
  Speaker 2: which I can't even remember what that was like.
• 8:44
  Speaker 1: Let me see. I've done this program.
• 8:46
  Speaker 3: That's my strategy.
• 8:47
  Speaker 1: How many years have I done this? So if you
• 8:48
  Speaker 1: were truly on vacation, no offense.
• 8:52
  Speaker 3: No, no.
• 8:52
  Speaker 2: And that's one of the great things that Rockport took over.
• 8:56
  Speaker 1: You're on a family vacation. The family's on vacation. You're not.
• 9:02
  Speaker 2: Exactly. So now... You know, thanks to the guys that
• 9:05
  Speaker 2: took over, I'm able to do a couple of those.
• 9:06
  Speaker 3: A month, small ones, but I still get it done.
• 9:09
  Speaker 1: All right. So it's an interesting strategy involving basically research
• 9:17
  Speaker 1: that you put into all of this. Now, I'm going
• 9:21
  Speaker 1: to jump around just a little bit on you. Is
• 9:23
  Speaker 1: tomorrow the day when the hedge fund opens?
• 9:26
  Speaker 3: Yes. Yes.
• 9:28
  Speaker 2: And that's the reason why that's a great memory. How
• 9:30
  Speaker 2: did you remember that?
• 9:31
  Speaker 1: Because it's going to be May 15th, and I just wanted–
• 9:34
  Speaker 1: this has been a goal of yours for as long
• 9:38
  Speaker 1: as we've been talking on the radio, that you wanted
• 9:41
  Speaker 1: to open, just so people understand, John always wanted to
• 9:44
  Speaker 1: open his own hedge fund, okay, which means he's in
• 9:48
  Speaker 1: charge of it, and he's going to take 100 investors,
• 9:53
  Speaker 1: and I'll let him explain it all, and then you
• 9:56
  Speaker 1: will actively– Manage it. Take it from there. and explain
• 10:00
  Speaker 1: it to our listeners, because it debuts tomorrow, and how
• 10:04
  Speaker 1: do people, if they're interested in being a part of it,
• 10:09
  Speaker 1: if they meet the criteria, get a hold of you?
• 10:11
  Speaker 1: I'll sit back and listen.
• 10:13
  Speaker 2: I am going to tell you that, because I've got
• 10:16
  Speaker 2: to tell you something. I've got two... of the proudest
• 10:20
  Speaker 2: days of my moment now under my belt in my
• 10:25
  Speaker 2: business career. One was, I didn't know this, but in 2008,
• 10:28
  Speaker 2: I was elected the most valuable person under the 40
• 10:31
  Speaker 2: under 40 class in Northeastern Ohio, whatever they call themselves.
• 10:36
  Speaker 2: And I was surprised because I didn't even have a
• 10:37
  Speaker 2: speech prepared because I didn't think I deserved it, but
• 10:40
  Speaker 2: I was. That was definitely the highlight of my career.
• 10:42
  Speaker 2: And today, as of 12 o'clock midnight, is my second,
• 10:46
  Speaker 2: maybe my first, proudest day of my career because I'm
• 10:49
  Speaker 2: opening up my own hedge fund.
• 10:52
  Speaker 1: No, no, John, hang on. John, I'm going to save
• 10:54
  Speaker 1: your goose right now, okay? Just so you don't get
• 10:57
  Speaker 1: in a doghouse.
• 10:58
  Speaker 2: No, no, no. I said professional.
• 11:00
  Speaker 4: Oh, okay.
• 11:00
  Speaker 2: Professional.
• 11:01
  Speaker 1: Okay, I was going to say, the best day of
• 11:03
  Speaker 1: your life was when you asked the girl you love
• 11:06
  Speaker 1: to marry you, and she said yes. The second best
• 11:09
  Speaker 1: day of your life was the day your children were born. Okay,
• 11:12
  Speaker 1: just so we know, but from a professional standpoint, these
• 11:15
  Speaker 1: would be three and four on a life standpoint, but
• 11:17
  Speaker 1: from a professional standpoint, one and two. Here I thought,
• 11:20
  Speaker 1: I missed the professional part. I'm just trying to cover
• 11:24
  Speaker 1: your personal life for you. in case you got in
• 11:26
  Speaker 1: a doghouse. I'm your wingman. I'm your wingman.
• 11:29
  Speaker 2: You are my wingman. You're my boy.
• 11:31
  Speaker 3: So you cover that ass like you should.
• 11:35
  Speaker 2: But in all seriousness, I'll touch on that personally. If
• 11:38
  Speaker 2: anybody's a friend of mine on Facebook or knows me,
• 11:41
  Speaker 2: my wife and my kids walk on water. It's them
• 11:43
  Speaker 2: and then everything comes second. So that's what I work
• 11:47
  Speaker 2: hard for and that's what I live for. So yes,
• 11:49
  Speaker 2: absolutely to retrace as far as accomplishments in my life,
• 11:53
  Speaker 2: get my wife to say yes to me and you know,
• 11:56
  Speaker 2: be in the honor of her husband. And then I
• 11:58
  Speaker 2: have four ridiculously beautiful and smart kids that I love
• 12:01
  Speaker 2: to death. And that is my world. Now, professionally today
• 12:05
  Speaker 2: is number one, you know, midnight when the edge funds
• 12:08
  Speaker 2: open up, because I can't even tell you how much
• 12:11
  Speaker 2: energy and time sleepless nights went into making this happen.
• 12:14
  Speaker 1: Why is it? Why is this such a, why is
• 12:19
  Speaker 1: this so important to you or so something that you've
• 12:23
  Speaker 1: strived for so long? to have your own hedge funds?
• 12:28
  Speaker 2: Well, that's a great question because I have a great answer.
• 12:30
  Speaker 2: It's because now I get to showcase my skills one-on-one.
• 12:36
  Speaker 2: The other thing is, you know, one of the reasons
• 12:39
  Speaker 2: why I sold the Rockport is because I was out
• 12:40
  Speaker 2: of bandwidth. I had so many assets. I had so
• 12:44
  Speaker 2: much going on. I had the real estate company, the
• 12:46
  Speaker 2: mortgage company, the building, building the house. There were literally days,
• 12:51
  Speaker 2: and I mean literally, and I'm not proud of this,
• 12:53
  Speaker 2: where I was going day to day without sleep. And
• 12:57
  Speaker 2: I was taking this, this is a long answer to
• 12:59
  Speaker 2: your question, but it's true. And I was, you know,
• 13:02
  Speaker 2: coming home irritable and using the F word in front
• 13:06
  Speaker 2: of my kids like I shouldn't have. I was just
• 13:07
  Speaker 2: not proud of myself. The money was ridiculous, but I
• 13:10
  Speaker 2: was not proud of who I was. And... Thankfully, I
• 13:14
  Speaker 2: got a crew of guys from Cleveland that gave me
• 13:17
  Speaker 2: a significant offer, and they took the reins and, in
• 13:20
  Speaker 2: my opinion, did a great job. So that blessing allowed
• 13:25
  Speaker 2: me to do my dream, which was be the man
• 13:28
  Speaker 2: in the arena. Now, what does that mean? That term
• 13:31
  Speaker 2: comes from the Tom Brady episode, who I love. Basically,
• 13:35
  Speaker 2: it's you. The whole arena is looking at you. There's
• 13:39
  Speaker 2: nobody bailing you out. I can no longer say it
• 13:42
  Speaker 2: was the market's fault, so-and-so down the street took my
• 13:45
  Speaker 2: client because he was better looking than me or he's
• 13:48
  Speaker 2: nicer than me or he's a better golf game. None
• 13:50
  Speaker 2: of that applies anymore. What it comes down to is
• 13:53
  Speaker 2: people give me a deposit. They're one of the owners
• 13:56
  Speaker 2: of the fund with me as an LP, which stands
• 13:59
  Speaker 2: for limited partner. No matter what the market does at
• 14:02
  Speaker 2: the end of the month, I have to perform. Short, long, straddle,
• 14:08
  Speaker 2: put call rate, it doesn't matter. I have to perform.
• 14:11
  Speaker 2: And that's who I am. I've always said this on
• 14:13
  Speaker 2: our show. I want the ball in my hands like
• 14:15
  Speaker 2: John Elway with two minutes to go on the two-yard line.
• 14:17
  Speaker 2: I want that last-second shot from Michael Jordan. I'm that guy.
• 14:21
  Speaker 2: I've always been that guy. I'm fearless that way. And
• 14:24
  Speaker 2: this is the pure way to say, all right, John,
• 14:27
  Speaker 2: you're in the arena. You've got the sword. Whatever comes
• 14:30
  Speaker 2: out of that gate, it's up to you to win.
• 14:32
  Speaker 2: And now that's what a hedge fund does, and that's
• 14:34
  Speaker 2: been my dream because now I can really showcase my skills.
• 14:39
  Speaker 2: The other thing is it's only 100 investors, and that's
• 14:42
  Speaker 2: where the first part of this question came from. I
• 14:45
  Speaker 2: have a client that I love dearly, Mark. He came
• 14:48
  Speaker 2: down with prostate cancer, and I have so many of
• 14:50
  Speaker 2: those stories. I didn't even have time to visit him.
• 14:53
  Speaker 2: I didn't even have time to take some of our
• 14:55
  Speaker 2: clients out to lunch for their birthday. The things that
• 14:58
  Speaker 2: I built my career on is love and care more
• 15:01
  Speaker 2: than just making them money. I was not able to
• 15:03
  Speaker 2: do that anymore. Now with 100 investors... I can legitimately
• 15:09
  Speaker 2: give them everything I got emotionally, mentally, strategically, investment-wise, and
• 15:16
  Speaker 2: because the 301c fund I offer only allows 100 investors.
• 15:20
  Speaker 2: So I can give it everything I got now versus,
• 15:22
  Speaker 2: I think, this is by memory. I can remember 1,600,
• 15:25
  Speaker 2: 1,800 clients before. Unmanageable. So that's the other reason. So
• 15:30
  Speaker 2: this has come for a circle to hopefully, can't guarantee it,
• 15:35
  Speaker 2: I get to now showcase my skills. And I get
• 15:37
  Speaker 2: it audited to where I can say on this program, hey,
• 15:40
  Speaker 2: July 30th, this is the NAV, and this is what
• 15:45
  Speaker 2: we made percentage-wise, and that's that. And if you like
• 15:49
  Speaker 2: what you hear, if there's any subscriptions available, you know,
• 15:51
  Speaker 2: call me. Because before, I didn't have GIPS auditing, so
• 15:55
  Speaker 2: I couldn't say we had, you know, a 5% or 6% month,
• 15:58
  Speaker 2: or we made... you know, whatever X, Y, Z percentage-wise
• 16:03
  Speaker 2: in 2022. I couldn't say that legally because you have
• 16:06
  Speaker 2: to have an audited record of that. Now I have
• 16:09
  Speaker 2: an audited record of that. So this all lines up
• 16:12
  Speaker 2: to my personality and what I was trying to accomplish.
• 16:15
  Speaker 2: And the other thing is from a pure, like, ego standpoint,
• 16:19
  Speaker 2: you know, some of my competitors over the past 20,
• 16:22
  Speaker 2: 20 years, like, say horrible, ridiculous things about me that
• 16:25
  Speaker 2: are untrue, fabricated, And now I can just, like, whip
• 16:29
  Speaker 2: their ass and tell it on the radio how it is.
• 16:32
  Speaker 2: And I say, no, maybe you go take your client
• 16:35
  Speaker 2: to lunch again or to golf or maybe time to
• 16:39
  Speaker 2: go to church again and cement that relationship because now
• 16:41
  Speaker 2: you're going to have to answer to John Orman's results.
• 16:44
  Speaker 2: And what are you going to do now? So all
• 16:46
  Speaker 2: of that round, that ball of wax I just said
• 16:48
  Speaker 2: is the reason why this day has been coming, and
• 16:50
  Speaker 2: I'm so proud.
• 16:50
  Speaker 1: All right, so it officially opens then tomorrow. which is
• 16:56
  Speaker 1: a hedge fund that you will have 100 investors into
• 17:01
  Speaker 1: this hedge fund. But there is a criteria, a financial criteria,
• 17:05
  Speaker 1: to be a member of this hedge fund family. Tell
• 17:09
  Speaker 1: what the criteria is.
• 17:11
  Speaker 2: You have to be an accredited investor, and I thank
• 17:13
  Speaker 2: you for bringing that up. You have to have either
• 17:16
  Speaker 2: one of the three. $ 1 million in liquid assets, liquid
• 17:20
  Speaker 2: being the key word. Make $ 200, 000 a year. And or
• 17:27
  Speaker 2: be able to invest at any one time $ 200, 000. So
• 17:30
  Speaker 2: one of those three have to be true. If you
• 17:33
  Speaker 2: hit one of those three, you're eligible to become one
• 17:36
  Speaker 2: of my clients and accredited client. But I'll also tell you,
• 17:39
  Speaker 2: we have very strict suitability paperwork to where someone just
• 17:42
  Speaker 2: can't tell me they like stated income. They have to
• 17:46
  Speaker 2: prove it. So we're going to be documenting, you know,
• 17:48
  Speaker 2: because here's what's going on.
• 17:50
  Speaker 1: I had no.
• 17:51
  Speaker 2: Idea it was going to be so popular. People... all
• 17:54
  Speaker 2: day long call me off the wall to get into
• 17:56
  Speaker 2: it and i have to turn a lot of them
• 17:58
  Speaker 2: down which sucks because they're such great people because they
• 18:02
  Speaker 2: want to get into it but they understand the criteria
• 18:04
  Speaker 2: of the accreditation so we just can't say well we
• 18:08
  Speaker 2: believe you mr smith because and i'm making that name
• 18:10
  Speaker 2: up by the way because you said you made two
• 18:12
  Speaker 2: hundred thousand you have to prove it and then so
• 18:15
  Speaker 2: we have a we have a an audited system to
• 18:18
  Speaker 2: where they go and they do it themselves i help
• 18:20
  Speaker 2: walk them through it they have to prove that they
• 18:22
  Speaker 2: have this And that's that. But that's the criteria, Ron.
• 18:27
  Speaker 2: All right.
• 18:29
  Speaker 1: So there are three things, and you just need one
• 18:31
  Speaker 1: of the three, correct?
• 18:33
  Speaker 2: That's correct. All right.
• 18:34
  Speaker 1: So you need, one, $ 200, 000 that you're willing to invest.
• 18:38
  Speaker 1: That would be one of the three. Two is you
• 18:42
  Speaker 1: have to show that you make $ 200, 000 a year or more. Correct?
• 18:47
  Speaker 1: That's number two.
• 18:48
  Speaker 2: That's correct.
• 18:48
  Speaker 1: And number one is you have to have a million
• 18:50
  Speaker 1: dollars in liquid assets, which means... And not in real
• 18:54
  Speaker 1: estate or anything, you have the cash, if you will.
• 18:58
  Speaker 2: Yeah, and that could be IRAs, it could be CDs
• 19:00
  Speaker 2: or whatever, but it's got a total of a million.
• 19:03
  Speaker 2: And so you've got to get one of those three.
• 19:04
  Speaker 2: So the audience, if you're really listening and you really
• 19:07
  Speaker 2: want an opportunity to get this fund, I think there's
• 19:08
  Speaker 2: 30 subscriptions left out of the deck, I think. You
• 19:13
  Speaker 2: have to have one of those three, not all three
• 19:15
  Speaker 2: at once.
• 19:16
  Speaker 1: All right, so then, now just take me to the
• 19:18
  Speaker 1: next step. So somebody says, okay. I want to be
• 19:22
  Speaker 1: a part of this. And they follow and they get
• 19:26
  Speaker 1: through the verification process. Let's just put it that way.
• 19:30
  Speaker 1: Then how much money at that point do they put
• 19:33
  Speaker 1: in the fund? $ 200, 000? It's a minimum of $ 100, 000.
• 19:36
  Speaker 2: $ 100, 000, okay. A minimum of $ 100, 000. If you want to
• 19:41
  Speaker 2: put more in that thereafter, I can do either a special,
• 19:44
  Speaker 2: like basically turn my cheek and say, okay, you don't
• 19:49
  Speaker 2: meet the minimum fund. $ 50, 000 thereafter let's say you only
• 19:51
  Speaker 2: have $ 35, 000 if they're a friend or if I know
• 19:54
  Speaker 2: potentially by the end of the year they're going to
• 19:56
  Speaker 2: add another $ 70, 000 I'll take it but the criteria is
• 19:59
  Speaker 2: a minimum initially of $ 100, 000 and thereafter $ 50, 000 now I've.
• 20:04
  Speaker 1: Had people you mean once you put $ 100, 000 in you
• 20:07
  Speaker 1: can then add another $ 50, 000 later.
• 20:10
  Speaker 2: Yeah, $ 50, 000 increments.
• 20:13
  Speaker 1: Okay.
• 20:14
  Speaker 2: Increments. So $ 100, 000 first, $ 50, 000 thereafter. Now, here's why I'm
• 20:20
  Speaker 2: warning the listeners out there that want to get in,
• 20:22
  Speaker 2: because I've been kind of battling this all day. Like,
• 20:29
  Speaker 2: you have to, like, it's liquid. It's a 30-day liquidation,
• 20:33
  Speaker 2: so if you just don't like me or I suck,
• 20:36
  Speaker 2: you can get out of it after 30 days. I
• 20:37
  Speaker 2: just need... you know, something in the writing saying that,
• 20:40
  Speaker 2: and we'll get you a check within, you know, probably
• 20:43
  Speaker 2: 15 days thereafter. So don't invest the money with me.
• 20:46
  Speaker 2: And it's fun. I should say, if you plan to
• 20:49
  Speaker 2: take it within a couple of years, it will be
• 20:52
  Speaker 2: senseless for you. We don't want the business. It just
• 20:55
  Speaker 2: doesn't make sense. It's not for you. So I just,
• 20:58
  Speaker 2: you know, even though we have a 30 day liquidation,
• 21:01
  Speaker 2: please don't drive me crazy. If you don't plan to
• 21:03
  Speaker 2: keep the money in there for a couple of years,
• 21:05
  Speaker 2: don't bother. So I just want to disclose that.
• 21:08
  Speaker 1: All right. So, And I'm just going step by step
• 21:11
  Speaker 1: because tomorrow's the big day. So when the person puts
• 21:15
  Speaker 1: the money in, then what happens in your hedge fund?
• 21:19
  Speaker 1: Then you do the, do you do, I don't want
• 21:23
  Speaker 1: to say day trading, but regular trading. Explain what happens
• 21:26
  Speaker 1: then with your hedge fund after the investor puts the
• 21:29
  Speaker 1: money in. You buy different stocks and entities?
• 21:34
  Speaker 2: That's exactly right. So I do more what's called swing trading.
• 21:37
  Speaker 2: There'll be times like today where I take advantage of
• 21:39
  Speaker 2: the market and do some day trading. But swing trading
• 21:42
  Speaker 2: could be a day or it could be two weeks
• 21:43
  Speaker 2: or it could be a month. I'm not going to
• 21:46
  Speaker 2: take a huge loss on MU if I know that
• 21:47
  Speaker 2: next week, in my heart, it's going to probably be
• 21:51
  Speaker 2: the key word, go up. But there are times like
• 21:54
  Speaker 2: today where I'm just making up of something. Something went up,
• 21:57
  Speaker 2: I don't know, nowhere, 8% within an hour. Believe me,
• 22:01
  Speaker 2: I'm taking that money off the table because it's unusual.
• 22:04
  Speaker 2: So It's a combination of swing trading, day trading, but
• 22:06
  Speaker 2: more importantly, I have a management team that's behind me
• 22:10
  Speaker 2: that manages their own fund that I'm partnering up with
• 22:14
  Speaker 2: that's going to help manage this fund. And the reason
• 22:16
  Speaker 2: why that's important for you to know is because, God forbid,
• 22:20
  Speaker 2: like I'm in the hospital, I'm incapacitated, or maybe I'm
• 22:23
  Speaker 2: just not that good. I got a group of professionals
• 22:28
  Speaker 2: that have a very experienced track record, as a matter
• 22:31
  Speaker 2: of fact, number six in the entire country, to help
• 22:33
  Speaker 2: me manage this thing. And it's going to, I think,
• 22:38
  Speaker 2: elevate my performance year to year or month to month
• 22:43
  Speaker 2: better than average for somebody just starting out. So there
• 22:45
  Speaker 2: will be a combination of their fun and there will
• 22:47
  Speaker 2: be a combination of what I'm doing. And what I'm
• 22:50
  Speaker 2: trying to do is be number one in the nation.
• 22:52
  Speaker 2: That's what I'm not saying I will. I'm not saying it.
• 22:54
  Speaker 2: But that's my goal. And you know with my ego
• 22:58
  Speaker 2: and how I do things that I'm going to go after.
• 23:00
  Speaker 2: If I don't hit it, I'm going to be trying.
• 23:02
  Speaker 2: So that's how it's going to go.
• 23:03
  Speaker 1: All right. John Arnold is with us. The program's Money
• 23:07
  Speaker 1: Talks with the money coach, like I like to say.
• 23:12
  Speaker 2: There he is.
• 23:14
  Speaker 1: The Sam Retigliano, if you remember him years ago in
• 23:16
  Speaker 1: the Browns.
• 23:17
  Speaker 2: Of course. All right. Wasn't he related to the YSU somehow?
• 23:22
  Speaker 1: The John Haycock, the Jim Trussell. There you go. John
• 23:27
  Speaker 1: Arnold joins us. I want to come back. We're going
• 23:29
  Speaker 1: to talk more about this, and there's plenty of other
• 23:32
  Speaker 1: areas to cover. Stay tuned. More with John Arnold. After
• 23:35
  Speaker 1: we pause for the headlines at 6.30, NewsRadio 570 WKBN.
• 23:39
  Speaker 1: John is with us tonight till 7. We'll give you
• 23:42
  Speaker 1: more details about all this coming up. From NewsRadio 570 WKBN,
• 23:47
  Speaker 1: it's Thursdays at 6 o'clock. Money Talks with John Arnold
• 23:51
  Speaker 1: on NewsRadio 570 WKBN. And as we get back to it.
• 23:55
  Speaker 1: So those are your investors. You take 100. That's all
• 24:00
  Speaker 1: that you'll have in this fund is 100. And then
• 24:04
  Speaker 1: you want people that are going to be in it
• 24:05
  Speaker 1: for a couple of years, not 30 days or six
• 24:08
  Speaker 1: months or something along those lines.
• 24:11
  Speaker 2: Don't waste our time, correct.
• 24:13
  Speaker 1: All right. Talk a little bit from the standpoint of security.
• 24:16
  Speaker 1: This is your funds. How can you verify where the
• 24:21
  Speaker 1: money is and who's got it and give people peace
• 24:25
  Speaker 1: of mind?
• 24:26
  Speaker 2: Man, you're asking ridiculously good questions, so thank you. Because
• 24:30
  Speaker 2: I've been answering these all day. So the money, this
• 24:34
  Speaker 2: is so important for the investing world to hear. I
• 24:38
  Speaker 2: have zero access to the money. If someone put a
• 24:42
  Speaker 2: shotgun to my head and said, give me your client's
• 24:46
  Speaker 2: $ 100 million, I couldn't get the one cent. My head
• 24:49
  Speaker 2: would get blown off. It is held directly at Interactive Brokers.
• 24:54
  Speaker 2: Interactive Brokers is a hedge fund slash regular day trading
• 24:59
  Speaker 2: or whoever... You could open up an Interactive Brokers account,
• 25:02
  Speaker 2: and I'm sure you see them advertised. And that's that.
• 25:05
  Speaker 2: So the fund is held at Interactive Brokers. Now, here's
• 25:07
  Speaker 2: the security blanket. I have a third-party administrator that is
• 25:12
  Speaker 2: the only person allowed to request funds into the hedge
• 25:16
  Speaker 2: fund bank, which is Mercury, is a third-party administrator, which
• 25:20
  Speaker 2: is Ripple. Ripple is the person managing me for the client.
• 25:25
  Speaker 2: So here's how it works. I get a client that says, John,
• 25:28
  Speaker 2: I want to commit a couple hundred grand to you.
• 25:31
  Speaker 2: I send a message to Ripple. Ripple then sends a
• 25:36
  Speaker 2: link to the client through their email and says, log
• 25:40
  Speaker 2: on here. They fill out the suitability paperwork. They fill
• 25:43
  Speaker 2: out the amount of money they want to put in.
• 25:46
  Speaker 2: The client puts their account into Ripple. Ripple then wires
• 25:52
  Speaker 2: the money from their account to the Mercury Bank's account.
• 25:56
  Speaker 2: Mercury Bank then deposits the money via wire into Interactive Brokers.
• 26:01
  Speaker 2: If it's an IRA, what happens instead is Alto, instead
• 26:06
  Speaker 2: of Ripple, takes in the IRA money, secures it as
• 26:13
  Speaker 2: an IRA, sends the money to Interactive Brokers, and they
• 26:17
  Speaker 2: manage it from a, not manage it investment-wise, they manage
• 26:20
  Speaker 2: it from an IRA because they deliver to make sure
• 26:23
  Speaker 2: there's no taxable liability. And that's it. So the key
• 26:27
  Speaker 2: here is, the bridge is, John Arnold has zero access,
• 26:32
  Speaker 2: and I mean none, to get to the client's money.
• 26:36
  Speaker 2: And here's the other thing that was hard for me
• 26:38
  Speaker 2: to grasp by building this. The clients aren't clients. They're owners.
• 26:43
  Speaker 2: That's why they're called LPs. They're called limited partners. So
• 26:47
  Speaker 2: if you are a limited partner of Vision 2030 Fund,
• 26:52
  Speaker 2: you actually own the fund with me. And the beauty
• 26:55
  Speaker 2: is because you're called a limited partner and you're classified,
• 26:58
  Speaker 2: that is, You have no risk legally. Let's say that I'm,
• 27:02
  Speaker 2: God forbid, that I'm some kind of scam artist or
• 27:05
  Speaker 2: for whatever reason I got a gambling. I don't know.
• 27:07
  Speaker 2: I'm just trying to make something up. And I somehow
• 27:10
  Speaker 2: had access or I did something improper in the fund.
• 27:13
  Speaker 2: The limited partners are protected from any kind of lawsuit
• 27:16
  Speaker 2: because they're limited partners. I am the general partner, the
• 27:20
  Speaker 2: CEO of the general partner. I'm also the owner of
• 27:22
  Speaker 2: the capital management firm.
• 27:24
  Speaker 1: Yeah, but you don't have access to the money anyway. No,
• 27:28
  Speaker 1: I'm just trying.
• 27:29
  Speaker 2: To give you all the cover on all the buckets here.
• 27:33
  Speaker 2: So you're right. There is no access. But let's say,
• 27:35
  Speaker 2: God forbid, let's say it's something important.
• 27:38
  Speaker 1: Okay. Basically, you're on the hook and the limited partners
• 27:41
  Speaker 1: don't have to worry about anything.
• 27:42
  Speaker 2: Right. And then so it was so hard for the
• 27:45
  Speaker 2: clients I was talking to and me is they're no
• 27:48
  Speaker 2: longer clients, they're owners. Right. Because at the end of
• 27:51
  Speaker 2: the month, they're going to get a statement at the
• 27:53
  Speaker 2: end of the month as an owner saying, here's how
• 27:55
  Speaker 2: much money the NAV is. This is what it's worth.
• 27:58
  Speaker 2: We show the expenses, we show the gains, and here's
• 28:02
  Speaker 2: how much up or down you made for the month, period.
• 28:05
  Speaker 2: And the reason why that's going to be both great
• 28:09
  Speaker 2: and bad for the client is because they're so used
• 28:10
  Speaker 2: to investing and seeing their positions. They might see Amazon
• 28:15
  Speaker 2: and NVIDIA and x-y-z stock or whatever, and gain or
• 28:19
  Speaker 2: loss here and there. They don't get to see that.
• 28:21
  Speaker 2: All they know is they're an owner of the fund,
• 28:23
  Speaker 2: limited partner, and hopefully John Arnold every month returns them
• 28:27
  Speaker 2: a hell of a return. The great news is that
• 28:30
  Speaker 2: they have no, really, anxiety behind it because they're just
• 28:32
  Speaker 2: trusting the guy managing the money or the team. The
• 28:36
  Speaker 2: bad news is if they're used to seeing the positions,
• 28:40
  Speaker 2: they're up a creek and a paddle. So that was
• 28:42
  Speaker 2: really hard for my mind, believe it or not, to
• 28:45
  Speaker 2: wrap around. So with that said, that's how it's going
• 28:48
  Speaker 2: to be, and that's what it is, and I hope
• 28:49
  Speaker 2: I answered the question.
• 28:50
  Speaker 1: You did. Why can't you see the positions? Because that
• 28:54
  Speaker 1: exposes people to what you're doing as far as competition?
• 28:57
  Speaker 2: Yeah, I don't. I mean, that's the reason why my
• 29:00
  Speaker 2: portfolio is so successful is because of my ability, my
• 29:04
  Speaker 2: secret sauce. Also, what I have to do is open
• 29:07
  Speaker 2: up their statement every day and hand it off to
• 29:10
  Speaker 2: another investment guy, and he just copycat me, and then
• 29:12
  Speaker 2: I lose my competitive edge.
• 29:14
  Speaker 1: Right.
• 29:15
  Speaker 2: So only an absolute fool would do that. Right.
• 29:18
  Speaker 1: I mean, there's a reason why it is the way
• 29:22
  Speaker 1: it is. So you're saying for those people to get
• 29:24
  Speaker 1: into it as it opens tomorrow or tonight, I guess,
• 29:28
  Speaker 1: at midnight time on May 15th, then in June, 30
• 29:33
  Speaker 1: days from now or June 15th or 16th or sometime
• 29:36
  Speaker 1: in there, then you'll say, here's what you put in
• 29:38
  Speaker 1: and here's where we are. The positive or the negative?
• 29:41
  Speaker 2: No, you were close. You actually know more about this
• 29:43
  Speaker 2: than I thought. So right now we're in a collecting period.
• 29:47
  Speaker 2: So I got from tomorrow until June 1st to get
• 29:50
  Speaker 2: the money in for June to 30th calendar. A hedge
• 29:55
  Speaker 2: fund or any kind of fund operates month to month.
• 29:59
  Speaker 2: So what happens is the deposits I've taken from May
• 30:01
  Speaker 2: 15th until May 30th, which is only 30 days, they
• 30:05
  Speaker 2: will go into the fund and the clock starts ticking
• 30:07
  Speaker 2: from June 1 to June 30th for their performance.
• 30:12
  Speaker 1: Yeah, the funds would be on a holding pattern until
• 30:16
  Speaker 1: June 1st.
• 30:17
  Speaker 2: It's going to sit at Mercury Bank. That's right.
• 30:18
  Speaker 1: All right. So then on June 1st, they get invested
• 30:21
  Speaker 1: into the areas you want them invested in on June 1st.
• 30:27
  Speaker 2: That is exactly right. And at the end of June 1st,
• 30:30
  Speaker 2: or the end of June, they get a printout or
• 30:33
  Speaker 2: their website does log in as a repo client and say, okay,
• 30:38
  Speaker 2: what did my business return? Just as if you own
• 30:40
  Speaker 2: an accounting firm or a tire replacement, whatever. All right,
• 30:45
  Speaker 2: what was my return on investment here? Here's the revenue.
• 30:49
  Speaker 2: Here's the expenses. Here's the profitability. Okay.
• 30:54
  Speaker 1: Is it a good time or a bad time with
• 30:56
  Speaker 1: the volatility that we're seeing now as you take on
• 31:01
  Speaker 1: this challenge?
• 31:03
  Speaker 2: I think the reason why I made so much money
• 31:04
  Speaker 2: today is on volatility. It's really hard to make money
• 31:09
  Speaker 2: in what I do, swing trading, and manage money daily
• 31:13
  Speaker 2: or weekly, whatever, if a market continues to go straight
• 31:16
  Speaker 2: down like it did in March or if it continues
• 31:19
  Speaker 2: to chug along straight up. I don't have a amount
• 31:22
  Speaker 2: that has done that, but it has in the past.
• 31:24
  Speaker 2: So there's nowhere to buy low and sell high, right?
• 31:28
  Speaker 2: And if you're trying to short something, that makes it
• 31:32
  Speaker 2: even harder. So I love what's going on, and you
• 31:37
  Speaker 2: can thank Donald Trump for that. Now, here's what I
• 31:39
  Speaker 2: feel bad about, because I'm only dealing with 100-and-credit investors.
• 31:43
  Speaker 2: If I was in the RA world, the register investor
• 31:46
  Speaker 2: vibe like what it was before, this is very hard
• 31:49
  Speaker 2: on investors. It's very hard. on people like Adam and
• 31:51
  Speaker 2: Joe because the volatility, it goes crazy because it's volatile.
• 31:57
  Speaker 2: So you might think you're putting somebody into a good investment,
• 32:01
  Speaker 2: a fund, or a portfolio, and you're hoping that you
• 32:06
  Speaker 2: put it in at the right mark. But because the
• 32:08
  Speaker 2: volatility is so crazy, it makes it hard for people
• 32:12
  Speaker 2: that manage money on a year-to-year basis. So this is
• 32:15
  Speaker 2: a dream come true for John Arnold. The stars just
• 32:18
  Speaker 2: line up for me. Volatility is an absolute gift from
• 32:21
  Speaker 2: God for somebody who manages money on a daily to
• 32:24
  Speaker 2: weekly to monthly basis. Yeah.
• 32:27
  Speaker 1: Often on my other financial show, we use the word diversity.
• 32:31
  Speaker 1: It's a very important word with what's going on. Do
• 32:34
  Speaker 1: you view that equally in your hedge funds?
• 32:40
  Speaker 2: I do, not from a financial planning perspective, more from
• 32:44
  Speaker 2: a Common sense perspective, I'm not going to buy all
• 32:47
  Speaker 2: AI stocks, right? But I will tell you, that's the dispersion.
• 32:51
  Speaker 2: That's who's leading the pack. If that's what it took
• 32:54
  Speaker 2: to get my clients above average returns, guess what? That's
• 32:57
  Speaker 2: what I'm doing.
• 32:58
  Speaker 1: And this would be managed on a day-to-day basis or
• 33:02
  Speaker 1: hour-to-hour basis. This is something that you'll be doing. It's
• 33:06
  Speaker 1: not set it and forget it. It's actively managed, and
• 33:09
  Speaker 1: I say actively on a daily basis.
• 33:12
  Speaker 2: Exactly. Exactly. Exactly. And like I said, I try to
• 33:17
  Speaker 2: tell people, because a couple of the clients are like, well,
• 33:20
  Speaker 2: how do I know it's in your portfolio? And I
• 33:21
  Speaker 2: tell them, you don't. And that's why the reason why
• 33:24
  Speaker 2: Heinz 57 and Coca-Cola have honey or trademarks and no
• 33:28
  Speaker 2: one knows their secret recipe. My strategy is my personal
• 33:32
  Speaker 2: secret recipe. So I break it down to them in
• 33:35
  Speaker 2: the most basic terms. So this would be good for
• 33:36
  Speaker 2: the radio. If I had fire logs and I was
• 33:39
  Speaker 2: telling them it's $ 7 a stack, and I found out
• 33:43
  Speaker 2: a way to double that price on those logs and
• 33:46
  Speaker 2: sell out every month at 14, would you really care
• 33:50
  Speaker 2: if I doubled your money what I invested in?
• 33:53
  Speaker 3: If you came to find out three years.
• 33:55
  Speaker 2: Later it was actually fire logs that I sold to
• 33:57
  Speaker 2: get you to double your money, you would care less.
• 34:00
  Speaker 2: And that's the mindset you have to have if you're
• 34:04
  Speaker 2: a hedge fund investor. There's a reason why the ultra-wealthy
• 34:07
  Speaker 2: invest in hedge funds, because they are bottom-line people. They
• 34:10
  Speaker 2: want to know. And when I say ultra-wealthy, I'm talking
• 34:13
  Speaker 2: about billionaires, you know, multi-millionaires. They hire family offices and
• 34:18
  Speaker 2: guys like me to manage your wealth, and they'll hire
• 34:22
  Speaker 2: 10 of us and say, you know, whoever gets the
• 34:24
  Speaker 2: best performance at the end of the year is probably
• 34:26
  Speaker 2: going to get the majority of the money next year.
• 34:28
  Speaker 2: They don't care what you invested and how you invested.
• 34:30
  Speaker 2: As long as you were compliant, you did what you
• 34:33
  Speaker 2: could to take the tax liability low and perform well,
• 34:39
  Speaker 2: They don't care if you buy rubber tires or if
• 34:41
  Speaker 2: you buy penny stocks. So that's that.
• 34:45
  Speaker 1: So in the hedge fund, you can do a short sale.
• 34:49
  Speaker 1: You can make money on the market going up or
• 34:52
  Speaker 1: the market going down, correct?
• 34:56
  Speaker 2: That's what makes a hedge fund a hedge fund. So
• 34:58
  Speaker 2: you can go long, which is what the average investor does,
• 35:01
  Speaker 2: or you can go short, which is extremely scary.
• 35:04
  Speaker 1: Is that what you mean when you say short squeeze?
• 35:07
  Speaker 1: Explain that to me, please.
• 35:08
  Speaker 2: Okay, if you're shorting the market, you are literally taking
• 35:18
  Speaker 2: the most dangerous road you could take, and I'll tell
• 35:19
  Speaker 2: you the reason why. A stock, when you buy a
• 35:23
  Speaker 2: stock at 20, what's the maximum it can lose? I'm
• 35:27
  Speaker 2: asking you, Ron. 20. Right. It can only go to zero.
• 35:32
  Speaker 1: Yeah.
• 35:34
  Speaker 2: Right? What if I shorted a stock at 20? What's
• 35:38
  Speaker 2: the highest it can go?
• 35:40
  Speaker 1: Oh, let's see. The sky's the limit.
• 35:43
  Speaker 2: It's on the limit. You're exactly right. It's infinity, right?
• 35:46
  Speaker 1: Well, you like to think.
• 35:48
  Speaker 2: Here's what happens. You think that this is easy where
• 35:51
  Speaker 2: people are going to say, well, just don't do that
• 35:55
  Speaker 2: or just put calls in or buy underlying something else
• 36:01
  Speaker 2: to hedge it. it's not that simple because what happens
• 36:04
  Speaker 2: is this is what people don't understand. And I learned
• 36:07
  Speaker 2: this the hard way when I went long in the market.
• 36:09
  Speaker 2: I used to live by stop losses. I used to
• 36:11
  Speaker 2: live by them. And what happened is I didn't realize
• 36:14
  Speaker 2: because I was an amateur investor when I started the
• 36:16
  Speaker 2: stockbroker game in 2002 is the big money sees your
• 36:20
  Speaker 2: orders out there. Now, the more that technology comes about,
• 36:24
  Speaker 2: you can subscribe to things like called book map. You
• 36:26
  Speaker 2: can literally see the orders out there ahead of the market.
• 36:31
  Speaker 2: They will see your order out there, and they will
• 36:33
  Speaker 2: short-squeeze you and force you to maybe take a $ 100, 000
• 36:37
  Speaker 2: investment that you shorted, and you might owe them $ 500, 000
• 36:42
  Speaker 2: because they squeezed you. A bunch of big money short-squeezed
• 36:46
  Speaker 2: you and went long when they shouldn't have. That's what
• 36:49
  Speaker 2: happened with GameStop. And they went long, and they forced
• 36:52
  Speaker 2: the people on the other side who borrowed the shares
• 36:54
  Speaker 2: that were shorting it to come up with a difference.
• 36:57
  Speaker 2: And that's why, to answer your question... Yes, I can short.
• 37:00
  Speaker 2: Will I short? Very rarely. If I do short, it
• 37:03
  Speaker 2: will be covered by something else, some kind of hedge.
• 37:06
  Speaker 2: But I'll also tell you I'm probably going to short indexes.
• 37:09
  Speaker 2: I probably won't short index individual equities of any kind
• 37:14
  Speaker 2: because I can't just risk. I'm not risking just my
• 37:17
  Speaker 2: money now. I'm risking the other partner's money. So there's
• 37:21
  Speaker 2: things you can subscribe to, the hedge like SVIX, which
• 37:25
  Speaker 2: is a VIX hedge.
• 37:29
  Speaker 3: That they do it on your own.
• 37:31
  Speaker 2: So your own capital is not exposed. You're using something
• 37:36
  Speaker 2: as a hedge there. So why I don't explain this
• 37:40
  Speaker 2: to a client, or excuse me, a listener, is because
• 37:42
  Speaker 2: if you were in that game and you're shorting stocks,
• 37:45
  Speaker 2: you're literally saying at any one time I could lose
• 37:48
  Speaker 2: everything I have. And I highly recommend somebody never does that.
• 37:53
  Speaker 2: So if people are wondering how did so many people
• 37:56
  Speaker 2: make money on that GameStop, it was a short squeeze.
• 37:59
  Speaker 2: Everybody knew, everybody knew that GameStop was a short, but
• 38:03
  Speaker 2: a bunch of traders at the same time collectively said,
• 38:08
  Speaker 2: let's short squeeze these son of a guns and drive
• 38:11
  Speaker 2: this market up artificially, and now these people owe us
• 38:13
  Speaker 2: a difference. That's what a short squeeze is. And I
• 38:16
  Speaker 2: highly recommend no one even look into it as far
• 38:19
  Speaker 2: as going short.
• 38:22
  Speaker 1: It's risky is what you're saying.
• 38:24
  Speaker 2: You think? Yeah.
• 38:27
  Speaker 1: I really do. Yes, I do think that.
• 38:29
  Speaker 2: No, I didn't say, you know, go ahead.
• 38:32
  Speaker 1: No, I didn't say, yes, I do think it is.
• 38:34
  Speaker 2: Imagine having unlimited risk.
• 38:35
  Speaker 3: Of course it's risky.
• 38:36
  Speaker 2: What are you talking about?
• 38:39
  Speaker 1: Just my observation, Arnold.
• 38:41
  Speaker 3: What are you talking about?
• 38:43
  Speaker 2: And then here's the other thing that people don't understand.
• 38:46
  Speaker 2: You've got margin requirements. So in order to short a market,
• 38:49
  Speaker 2: short anything, you have to have margins. So you're paying 6%
• 38:52
  Speaker 2: to 11% on the margin on interest. And that's daily.
• 38:56
  Speaker 2: And that's accumulated daily, I should say. And then if
• 39:00
  Speaker 2: the stock you're shorting is owed a dividend to the
• 39:04
  Speaker 2: other side, guess what? You're on the hook to provide
• 39:06
  Speaker 2: that dividend. There's a lot that goes into shorting stocks
• 39:10
  Speaker 2: that people don't realize. And historically, a lot of people
• 39:13
  Speaker 2: have lost a ridiculous amount of wealth shorting stocks. So, yes, kid,
• 39:17
  Speaker 2: do I have the ability and will I will short something? Sometimes.
• 39:22
  Speaker 2: But it's going to be a highly... a strategized chess move,
• 39:26
  Speaker 2: and it's going to be with very little danger to
• 39:29
  Speaker 2: the portfolio.
• 39:31
  Speaker 1: So between tomorrow, which is Friday, May 15th to the
• 39:36
  Speaker 1: 1st of June, is when 100 people can get into
• 39:43
  Speaker 1: your hedge funds with roughly about 70 slots already taken.
• 39:48
  Speaker 1: 100 slots, period. Not 101, not anything more. It's capped
• 39:53
  Speaker 1: at 100. That's just where, as it's set up, it
• 39:56
  Speaker 1: has to be. So how do people that are interested
• 40:01
  Speaker 1: then talk to you about this?
• 40:05
  Speaker 2: Okay. I couldn't publish this because, unfortunately, the fund won't
• 40:08
  Speaker 2: open until the night.
• 40:09
  Speaker 1: Okay, so you can't say tonight.
• 40:10
  Speaker 2: There'll be a phone number tomorrow. But I can't give
• 40:13
  Speaker 2: you my email because that's how I've had so many
• 40:15
  Speaker 2: people already. I have people, they're in the kitty subscribing already,
• 40:19
  Speaker 2: so they're already in the bucket.
• 40:22
  Speaker 1: But let me ask you this before you do that.
• 40:26
  Speaker 1: Next Thursday's program, would you be given a phone number out?
• 40:30
  Speaker 2: I'm going to be given, just like the old school shows, yeah,
• 40:32
  Speaker 2: you're going to get a phone number.
• 40:34
  Speaker 1: Well, I just got to get it.
• 40:35
  Speaker 2: It's going to be me or an assistant answering it.
• 40:38
  Speaker 1: Okay. To ask you questions or explore it further on
• 40:44
  Speaker 1: a private level is what I'm trying to say.
• 40:47
  Speaker 2: Yeah, just like any other business you would call. So
• 40:51
  Speaker 2: I'm very over the top right now compliance-wise because I
• 40:54
  Speaker 2: just am. And I was afraid to offer a number.
• 40:59
  Speaker 2: until the thing opened up tonight, just to avoid any
• 41:01
  Speaker 2: kind of compliance catastrophe.
• 41:03
  Speaker 1: I'm 100% down with that. I want that as well.
• 41:08
  Speaker 2: Yeah. So I am going to offer my email, which
• 41:11
  Speaker 2: everybody's been getting all of me through. So it's jon.arnold
• 41:17
  Speaker 2: at theinvestment.coach. I'll repeat, jon.arnold.
• 41:22
  Speaker 1: No, no, no, no, no, jon. Yep.
• 41:25
  Speaker 2: Yeah, jon.arnold. A-R-N-O-L-D. At theinvestment.coach. So instead of. com, it's. coach.
• 41:38
  Speaker 1: And when you say theinvestment, meaning V as in victory?
• 41:42
  Speaker 2: No, no. The. T-H-E.
• 41:44
  Speaker 3: The.
• 41:45
  Speaker 1: Oh, okay.
• 41:46
  Speaker 2: The. Excuse me. I'm talking like the Ohio State University.
• 41:50
  Speaker 2: It's theinvestment.coach.
• 41:52
  Speaker 1: Theinvestment.coach.
• 41:55
  Speaker 2: Yeah.
• 41:55
  Speaker 1: All right. And that's... People can email you and express
• 42:00
  Speaker 1: their questions or interest in getting into the hedge fund.
• 42:08
  Speaker 1: The actual, what I want to say, grand opening is
• 42:12
  Speaker 1: on May 15th, if you will.
• 42:14
  Speaker 2: Right? Yeah, that's exactly right. I don't have an exact date,
• 42:19
  Speaker 2: but stay tuned for this. We're going to have a
• 42:21
  Speaker 2: very nice, very high-end appetizer slash event. Dessert, wine and
• 42:26
  Speaker 2: beer and soft drink workshop. I'm going to advertise it.
• 42:32
  Speaker 2: We'll have it probably the third week of June at
• 42:33
  Speaker 2: the Lake Club. If you've ever been to one of
• 42:36
  Speaker 2: my events, it's always first class. It's zero pressure, and
• 42:39
  Speaker 2: it's educational. So we will have that. Me and my
• 42:43
  Speaker 2: partners will be there. It will be a tell-not-sell type event.
• 42:46
  Speaker 2: We'll have a workbook to ask questions, and we'll have, obviously,
• 42:51
  Speaker 2: a screen, and we'll go through that on the PowerPoint.
• 42:53
  Speaker 2: And on this... field questions, and here's our card, and
• 42:57
  Speaker 2: here's our website, and if you like it, give us
• 43:00
  Speaker 2: a call. If you don't, we're not calling you, because
• 43:02
  Speaker 2: that's not that kind of game.
• 43:05
  Speaker 1: Yeah, but I mean, in all reality, you've got about
• 43:07
  Speaker 1: 30 openings at this point, so once it's full, it's full, period.
• 43:12
  Speaker 2: It's full.
• 43:13
  Speaker 1: And do you foresee... opening a second one, or is
• 43:18
  Speaker 1: that not something you..
• 43:20
  Speaker 2: No, no, no. I'm already on the way. So I'm
• 43:23
  Speaker 2: opening up an income pension strategy one, and I'm also
• 43:28
  Speaker 2: opening up a private equity one. I'll explain those. So
• 43:31
  Speaker 2: once the equities, the long, short one is filled, which
• 43:35
  Speaker 2: is probably going to be in the next three months,
• 43:38
  Speaker 2: we're going to close it down, and a subscriber will
• 43:42
  Speaker 2: have to wait for somebody to leave. Here's what I
• 43:44
  Speaker 2: will tell you that I've been promising... Our current investors
• 43:48
  Speaker 2: are loyal and we're getting in from the ground up.
• 43:51
  Speaker 2: I'm not going to kick them out to take a
• 43:52
  Speaker 2: bigger investor. I'm just not built like that. Because what's
• 43:55
  Speaker 2: going to happen is people are going to hear about
• 43:57
  Speaker 2: our results and you're going to get multi-millionaires and people
• 44:01
  Speaker 2: that prey on what's called emerging managers that are performing
• 44:04
  Speaker 2: and they're going to say, hey, here's $ 20 million of
• 44:07
  Speaker 2: our family office to put into your fund.
• 44:11
  Speaker 1: Will you be sharing the results on the radio program?
• 44:14
  Speaker 2: Yes, I will.
• 44:15
  Speaker 1: I'll be proud to do it. I'm just checking. I'm
• 44:16
  Speaker 1: not trying to get under your skin. I'm just asking
• 44:19
  Speaker 1: from my perspective on the program. Once it starts in June,
• 44:25
  Speaker 1: we can talk week to week, if we're not interrupted
• 44:28
  Speaker 1: by the Guardians, where you are percentage-wise.
• 44:32
  Speaker 2: That's exactly right. I'd probably prefer a 30-day, because that's
• 44:35
  Speaker 2: going to be what's called the true NAV. But I
• 44:38
  Speaker 2: will definitely give that. Plus, it has to be audited.
• 44:40
  Speaker 2: I want to make sure that it is to the
• 44:42
  Speaker 2: penny exactly what it is, because then I'm kind of
• 44:44
  Speaker 2: breaking some compliance there. So I want to make sure
• 44:46
  Speaker 2: it's audited. Then I'll obviously text you and say, Ron,
• 44:49
  Speaker 2: here's the validated yield or return on investment, and then
• 44:53
  Speaker 2: I'll talk about it. I'm also going to have, for
• 44:57
  Speaker 2: our investors only, or excuse me, our owners and partners,
• 45:00
  Speaker 2: I'm going to have monthly Zoom calls to where they can,
• 45:04
  Speaker 2: you know, field questions and I can answer them and
• 45:08
  Speaker 2: talk about the strategy and what worked and what didn't
• 45:11
  Speaker 2: and what I project as far as the economy goes. Obviously,
• 45:14
  Speaker 2: it's a guess, and there's going to be a very
• 45:17
  Speaker 2: personal touch to it.
• 45:21
  Speaker 1: To a certain extent, it's kind of just a general question.
• 45:26
  Speaker 1: A lot of what you're doing as far as starting
• 45:29
  Speaker 1: is hedge funds. I guess it would be a yes
• 45:31
  Speaker 1: or no question if you can answer it. You've been
• 45:34
  Speaker 1: doing privately for yourself. over a period of time.
• 45:40
  Speaker 2: Yeah, I did this in my own, I did this
• 45:42
  Speaker 2: exact fund with my own money. Because to be honest
• 45:46
  Speaker 2: with you, I don't use this term often. I was scared.
• 45:49
  Speaker 2: This is a very intimidating, very scary, there's a reason
• 45:53
  Speaker 2: why most guys, especially don't do a hedge fund. So
• 45:57
  Speaker 2: I did my own money with the test tube, but
• 46:00
  Speaker 2: it went a large amount. Let's just say this, it
• 46:03
  Speaker 2: was unbelievable. That's as much as I can tell you.
• 46:06
  Speaker 2: The return on investment was unbelievable. So much, in fact,
• 46:09
  Speaker 2: that I didn't even believe it when our CTO told me.
• 46:12
  Speaker 2: But the results were 12 trailing.
• 46:14
  Speaker 3: So that's it.
• 46:17
  Speaker 1: This guy that's the sixth best in the country, is
• 46:20
  Speaker 1: he assisting you in directing this? What is his role?
• 46:25
  Speaker 2: His role is the other money manager. So we're going
• 46:29
  Speaker 2: to own 60% of his fund, right? So in a
• 46:33
  Speaker 2: roundabout way, he's going to be managing 60% of it.
• 46:37
  Speaker 2: And my reasoning for that is it's like a hedge.
• 46:40
  Speaker 2: I want to make sure that our clients are getting
• 46:43
  Speaker 2: what I think is going to be potentially a superior return.
• 46:47
  Speaker 2: And if I'm as good as I think I am
• 46:49
  Speaker 2: and have been, and he's as good as he thinks
• 46:52
  Speaker 2: he is and has been, I think we have a
• 46:56
  Speaker 2: really good chance of giving you a good performance as
• 47:00
  Speaker 2: a hedge fund.
• 47:00
  Speaker 3: Do you get, go ahead. Let me explain the six,
• 47:03
  Speaker 3: like number six in the country.
• 47:04
  Speaker 2: So you can, just like in sports, you can sign
• 47:08
  Speaker 2: up for as a hedge fund manager performance. So, and
• 47:12
  Speaker 2: that's one of the things I want to do. I
• 47:13
  Speaker 2: want to, so I'm saying I want to try to
• 47:14
  Speaker 2: be number one. You can sign up for literally competitions.
• 47:18
  Speaker 2: He finished number six in the entire, in the entire
• 47:20
  Speaker 2: country for competition. So that's where that came from.
• 47:24
  Speaker 1: That's pretty impressive in the entire country.
• 47:26
  Speaker 2: It's amazing. It's, it's, it's, As soon as you meet him,
• 47:29
  Speaker 2: you understand why. I'm going to have him on the show,
• 47:32
  Speaker 2: I think, next week if we have a game. All right.
• 47:35
  Speaker 2: But as soon as you meet and talk to him,
• 47:36
  Speaker 2: he's one of these brainchilds.
• 47:38
  Speaker 1: I'm always interested in how those guys tick. I'm interested
• 47:44
  Speaker 1: in how they ever got to where they are, you know,
• 47:47
  Speaker 1: why they didn't just go out and get a job
• 47:49
  Speaker 1: as an accountant or something like that. You follow me?
• 47:52
  Speaker 1: I'm always interested in their life story. No, I missed
• 47:57
  Speaker 1: what you said about, what did you say, high school?
• 48:00
  Speaker 2: His name's Steve. Steve started, and you'll appreciate this, lawn
• 48:05
  Speaker 2: care service. He had his own lawn care service. And
• 48:08
  Speaker 2: he was incredibly intelligent. him and his two partners, um, and,
• 48:14
  Speaker 2: and Gabe, they had a lawn care service and he
• 48:17
  Speaker 2: said he can not, he can't stand the smell of
• 48:18
  Speaker 2: gasoline and oil and grass. He literally makes him sick
• 48:21
  Speaker 2: to this day because he did it so much. And
• 48:23
  Speaker 2: he said, I'm going to figure out a way to
• 48:25
  Speaker 2: make a ton of money doing something else with my brain.
• 48:28
  Speaker 2: And so he created a couple, you know, AI businesses,
• 48:31
  Speaker 2: some stuff like in you here in California, create those businesses.
• 48:35
  Speaker 2: He sold for a ton of money. He learned the
• 48:37
  Speaker 2: money management thing. And, uh, He's killing it. He's a
• 48:41
  Speaker 2: multi-multi-millionaire and sits in his house all day and just
• 48:45
  Speaker 2: trades and manages the fund.
• 48:47
  Speaker 1: Isn't that amazing in this country of ours? I mean,
• 48:49
  Speaker 1: that is truly the American. When I hear people talk
• 48:54
  Speaker 1: about America, what other country can you do something like
• 48:57
  Speaker 1: that in other than this great country of ours?
• 49:00
  Speaker 2: That's why I love America.
• 49:02
  Speaker 1: And I think we all should. Well, tomorrow is a
• 49:06
  Speaker 1: big day, and... I just want to end the program
• 49:09
  Speaker 1: by saying congratulations. I'm glad you achieved something that you
• 49:13
  Speaker 1: wanted to achieve in your life by getting your own
• 49:16
  Speaker 1: hedge funds. I congratulate you on doing that. I think
• 49:19
  Speaker 1: it's going. to be a tremendous amount of pressure, but
• 49:22
  Speaker 1: I know that you thrive on it for some reason.
• 49:26
  Speaker 2: I do.
• 49:28
  Speaker 1: I'll tell you, I've got to step outside of the
• 49:30
  Speaker 1: program and say, I've just noticed, folks, to me, it's
• 49:34
  Speaker 1: like almost this guy has a photographic memory. I mean,
• 49:37
  Speaker 1: it's just really, no offense, I don't mean to It's
• 49:40
  Speaker 1: really strange. I mean, I just, I mean, things that are,
• 49:47
  Speaker 1: I'll have to get into that on a whole nother program.
• 49:49
  Speaker 1: I just, well, all these, all when you pursue licenses
• 49:54
  Speaker 1: and other arenas, it doesn't seem like you have to
• 49:56
  Speaker 1: work very hard to get them. That's a blessing. All right, John,
• 49:59
  Speaker 1: I look forward to, to Friday being terrific for you.
• 50:04
  Speaker 1: And I look forward to talking to you next week.
• 50:07
  Speaker 1: What a, What a joy. Thank you, John Arnold.
• 50:10
  Speaker 2: Thank you, sir. Thank you.
• 50:11
  Speaker 1: That's John Arnold's Money Talks on NewsRadio 570.
• 50:20
  Speaker 5: From ABC News, I'm Dave Packer. President Trump getting ready
• 50:25
  Speaker 5: for day two of his high-stakes trip to China. The
• 50:27
  Speaker 5: president's first meeting with Chinese President Xi Jinping lasted more
• 50:31
  Speaker 5: than two hours.
• 50:32
  Speaker 1: ABC's Mary Bruce.
• 50:33
  Speaker 6: Xi delivering a stark warning to Trump about Taiwan, which
• 50:37
  Speaker 6: Beijing claims is its own territory. According to China's state media,
• 50:41
  Speaker 6: Xi telling Trump if the issue is handled poorly, the
• 50:44
  Speaker 6: two countries will collide or even clash. Trump, tight-lipped.
• 50:49
  Speaker 1: How are you talking, sir? It's great.
• 50:54
  Speaker 3: Great place.
• 50:54
  Speaker 2: Incredible.
• 50:56
  Speaker 1: China's beautiful.
• 50:57
  Speaker 6: Trump hoped to use their sit-down to seal deals on
• 51:00
  Speaker 6: trade and technology, bringing along with him over a dozen
• 51:03
  Speaker 6: American business leaders.
• 51:05
  Speaker 1: Russia pummeling Ukraine's capital today.
• 51:07
  Speaker 5: Hundreds of drones and missiles making it the largest attack
• 51:10
  Speaker 5: since the war began.
• 51:11
  Speaker 1: ABC's Marcus Moore.
• 51:13
  Speaker 7: An urgent search and rescue effort is underway right now
• 51:16
  Speaker 7: at the site of a devastating strike in Kiev. A
• 51:19
  Speaker 7: nine-story apartment building was hit there, and crews have been
• 51:22
  Speaker 7: working to rescue people from the rubble of that collapsed building.
• 51:25
  Speaker 5: At least 21 people have been killed in strikes over
• 51:27
  Speaker 5: the last two days, and that number could rise. The
• 51:29
  Speaker 5: Supreme Court is preserving broad access to the abortion pill
• 51:33
  Speaker 5: Mifepristone without an in-person visit to the doctor. This keeps
• 51:37
  Speaker 5: a hold on a lower court order that would have
• 51:38
  Speaker 5: restricted the drug's availability as litigation over FDA safety regulations continues.
• 51:44
  Speaker 5: The number of people being monitored for Hantavirus now at
• 51:47
  Speaker 5: least 41 in 12 states. The CDC's Hantavirus lead, Dr.
• 51:51
  Speaker 1: David Fitter.
• 51:52
  Speaker 2: We're working very closely with all the state and local
• 51:54
  Speaker 2: health departments to monitor everybody, all the contacts that are
• 51:59
  Speaker 2: coming back.
• 52:00
  Speaker 5: Meanwhile, the American doctor who was reported to be positive
• 52:03
  Speaker 5: for the virus in inconclusive testing now says he's tested
• 52:07
  Speaker 5: negative and has been moved out of a Nebraska biocontainment
• 52:10
  Speaker 5: unit and is back in the same facility as the
• 52:13
  Speaker 5: other passengers of the infected cruise ship.
• 52:16
  Speaker 4: You're listening to ABC News. Hot summer days and high
• 52:21
  Speaker 4: energy bills are on the way. Upgrade your home's old
• 52:23
  Speaker 4: leaky windows this month during Window Nation's buy, forget, for
• 52:27
  Speaker 4: free sale. Yes, half of your new, beautiful, energy-efficient windows, free. Plus,
• 52:31
  Speaker 4: no money down and no monthly payments or interest for
• 52:33
  Speaker 4: two years. Call now, 866-286-70 or windownation.com. In select markets,
• 52:40
  Speaker 4: trust our family of brands, New South Window and Armor View.
• 52:43
  Speaker 4: That's 866-286-70 or windownation.com to book a consultation.
• 52:49
  Speaker 8: I've been telling you all about the secret war on
• 52:51
  Speaker 8: our cash and the free report you can receive a
• 52:53
  Speaker 8: copy of by contacting Swiss America at 800-289-2646. I'd also
• 52:58
  Speaker 8: like to encourage you to subscribe to their podcast on YouTube.
• 53:00
  Speaker 8: Just search Swiss America Trading. The podcast can provide you
• 53:04
  Speaker 8: a ton of vital information and financial news in the
• 53:06
  Speaker 8: challenging and uncertain times we're in.
• 53:08
  Speaker 1: Subscribe today.
• 53:09
  Speaker 8: Learn more about BRICS, industry leaders, and their market predictions
• 53:12
  Speaker 8: for the future, along with what you might expect to
• 53:14
  Speaker 8: see in terms of precious metal performance in the weeks
• 53:16
  Speaker 8: and months ahead. Message and data rates may apply.
• 53:20
  Speaker 5: For the first time since the start of the war
• 53:22
  Speaker 5: in Iran, the Dow has hit over the 50,000 mark.
• 53:25
  Speaker 1: All three U.S.
• 53:26
  Speaker 5: Stock indices edged higher in Thursday trading, fueled by positive
• 53:29
  Speaker 5: earnings from tech giant Cisco. Meanwhile, unemployment claims ticked up
• 53:33
  Speaker 5: last week. Retail sales were up about a half a
• 53:36
  Speaker 5: percentage point in April, which is a slowdown compared to
• 53:38
  Speaker 5: prior months. It could indicate that Americans are trying to
• 53:42
  Speaker 5: economize due to higher gas prices caused by.
• 53:45
  Speaker 1: The war in Iran.
• 53:46
  Speaker 5: One county in California is taking action against kids riding
• 53:50
  Speaker 5: e-bikes and e-motorcycles.
• 53:52
  Speaker 9: In Orange County, since January, prosecutors have filed charges against
• 53:55
  Speaker 9: three parents for allowing their kids to illegally ride e-motorcycles.
• 54:00
  Speaker 9: That includes a mother of a 14-year-old boy. She is
• 54:02
  Speaker 9: facing involuntary manslaughter charges for her son hitting and killing
• 54:06
  Speaker 9: an elderly man while her son was riding an e-motorcycle. Now,
• 54:09
  Speaker 9: the Orange County DA's office is launching a prosecution unit
• 54:13
  Speaker 9: to go after parents and kids who break the law
• 54:15
  Speaker 9: while riding.
• 54:16
  Speaker 1: DA Todd Spitzer.
• 54:17
  Speaker 2: Whether you like it or not, we're responsible for the
• 54:20
  Speaker 2: conduct of our children.
• 54:21
  Speaker 9: The unit will review all potential criminal charges, including for
• 54:24
  Speaker 9: parents who let their children illegally ride e-bikes and e-motorcycles.
• 54:28
  Speaker 1: Alex Stone, ABC News, Los Angeles.
• 54:31
  Speaker 5: Three of the largest cell phone companies in the U.S.
• 54:34
  Speaker 5: say they will team up to get rid of dead zones.
• 54:36
  Speaker 5: AT & T, T-Mobile, and Verizon say in a statement
• 54:39
  Speaker 5: they will tap into satellite networks to fill in the gaps,
• 54:43
  Speaker 5: particularly in rural areas.
• 54:45
  Speaker 1: Dave Packer. ABC News.
• 54:50
  Speaker 4: Hot summer days and high energy bills are on the way.
• 54:53
  Speaker 4: Upgrade your home's old leaky windows this month during WindowNation's buy, forget,
• 54:57
  Speaker 4: for free sale. Yes, half of your new, beautiful, energy-efficient windows, free. Plus,
• 55:01
  Speaker 4: no money down and no monthly payments or interest for
• 55:03
  Speaker 4: two years. Call now, 866-286-70 or WindowNation.com. In select markets,
• 55:10
  Speaker 4: trust our family of brands, New South Window and Armor View.
• 55:13
  Speaker 4: That's 866-286-70 or WindowNation.com to book a consultation.