Latest / Ron Verb / Thursday 6pm hour 06/25/26

Transcript

Thursday 6pm hour 06/25/26 · Ron Verb

• 0:01
  Speaker 1: And so good to be with you 605 news radio
• 0:04
  Speaker 1: 570 wkbn 76 degrees some rain in our area and
• 0:08
  Speaker 1: money talks with uh the one who can talk about
• 0:11
  Speaker 1: it's john arnold on the end of the line john
• 0:13
  Speaker 1: welcome back to another thursday edition of the broadcast nice
• 0:16
  Speaker 1: to have you with us again yeah.
• 0:18
  Speaker 2: It's great to be on with you thank you very much.
• 0:20
  Speaker 1: And let's uh let's talk a little bit we're going
• 0:22
  Speaker 1: to get into john's hedge fund which uh is uh
• 0:27
  Speaker 1: Really a unique opportunity. We'll get into all of that
• 0:29
  Speaker 1: coming up momentarily. Don't you have your little bit of
• 0:33
  Speaker 1: a disclaimer you want to say in the beginning here?
• 0:36
  Speaker 3: I always forget about that.
• 0:37
  Speaker 2: Yeah, I actually, we got to get that done with
• 0:40
  Speaker 2: Keith or something to get it right in the beginning.
• 0:43
  Speaker 2: But yeah, the Money Talks program is for informational and
• 0:46
  Speaker 2: educational purposes only. All investing carries a potential loss or
• 0:52
  Speaker 2: risk of principal. And Ron Verve is a paid spokesperson
• 0:57
  Speaker 2: for My Heart Radio.
• 0:58
  Speaker 3: There you go.
• 0:59
  Speaker 2: And consult your own tax advisor or investment professional before
• 1:03
  Speaker 2: making any investment decisions.
• 1:05
  Speaker 3: There you go. Well stated. All right.
• 1:08
  Speaker 1: So here we go, and here we are. Let's start
• 1:11
  Speaker 1: where I always like to start. We're going to get
• 1:12
  Speaker 1: to the hedge fund coming up, folks. But let's start
• 1:14
  Speaker 1: with where the market is today and what's going on
• 1:18
  Speaker 1: since we talked last week as far as the market,
• 1:21
  Speaker 1: the economy, your thoughts about that situation.
• 1:26
  Speaker 2: Well, the market, let me put it this way, the
• 1:29
  Speaker 2: market's a nightmare for anybody, especially a hedge fund trader
• 1:32
  Speaker 2: like me. It's a nightmare right now. Let me tell you,
• 1:35
  Speaker 2: look at the NASDAQ. We got a chart on the
• 1:36
  Speaker 2: NASDAQ today. There was no shorting. It wasn't going long.
• 1:40
  Speaker 2: It did a 200 to 300-point move four times within
• 1:43
  Speaker 2: the day-to-day. So if you open up your chart right
• 1:46
  Speaker 2: now on NASDAQ, you'll see it go from like 25.5
• 1:49
  Speaker 2: all the way down to 25.2, up to 25.5, down
• 1:52
  Speaker 2: to 25.2. Now, listen, I'm rounding numbers up and down.
• 1:56
  Speaker 2: But just to give a listener kind of like the
• 1:59
  Speaker 2: pain of a pitcher in their head, if you can
• 2:01
  Speaker 2: imagine something going up 200 or 300 points four times
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  Speaker 2: on a trading day, it is madness. You know, Apple
• 2:09
  Speaker 2: came out today, which is when Ricky Holdings said, you know,
• 2:12
  Speaker 2: we're going to increase the prices. of our retail phones,
• 2:16
  Speaker 2: and the market did not like that. Micron came out
• 2:19
  Speaker 2: with ridiculous earnings, and that's one of our holdings as well.
• 2:23
  Speaker 2: That went up like 200 points in overnight trading and
• 2:27
  Speaker 2: held the line. So the semiconductor market is hitting record numbers.
• 2:35
  Speaker 2: And one of the drawbacks to that is there's a
• 2:37
  Speaker 2: tug of war going on. If they're doing good, then
• 2:39
  Speaker 2: that means other sectors are doing bad. Because semiconductors and
• 2:43
  Speaker 2: AI are slowly replacing jobs. So the market is not
• 2:46
  Speaker 2: fully in love with the AI and the semiconductor performance
• 2:50
  Speaker 2: because the better it gets, some people look at it
• 2:53
  Speaker 2: as the worst for the long-term in humanity.
• 2:57
  Speaker 3: There's a couple of things that you said there that...
• 3:00
  Speaker 3: I want to follow up on.
• 3:01
  Speaker 1: First of all, am I the only guy that thinks
• 3:02
  Speaker 1: an iPhone is fairly expensive now? And they decide they're
• 3:06
  Speaker 1: going to raise the price? I mean, everybody loves their
• 3:09
  Speaker 1: phone and everybody loves Apple. I don't know that you
• 3:14
  Speaker 1: can price them so high that people still don't want
• 3:16
  Speaker 1: an Apple iPhone or need to replace their phone at
• 3:19
  Speaker 1: some point.
• 3:20
  Speaker 3: But you can delay it longer.
• 3:23
  Speaker 1: I mean, is there a price breaking point on this
• 3:26
  Speaker 1: kind of stuff for the average consumer?
• 3:28
  Speaker 2: You want to know the truth? Yes. I don't think so,
• 3:31
  Speaker 2: and here's the reason why. We live, Jennifer and I live,
• 3:34
  Speaker 2: as everybody knows, Jupiter, and right down the road in
• 3:37
  Speaker 2: Palm Beach Gardens, one of the nicest malls in the
• 3:39
  Speaker 2: entire world. And in there is one of the most
• 3:42
  Speaker 2: successful Apple stores in the entire world. There is a
• 3:47
  Speaker 2: day waiting list to get an appointment. And then once
• 3:52
  Speaker 2: you get the appointment, there's another couple of days to
• 3:54
  Speaker 2: get into the appointment itself. When I actually get to
• 3:57
  Speaker 2: go in there, madhouse. We bought this thing called an
• 4:01
  Speaker 2: Apple Vision. It's like a... I don't know. It's a...
• 4:06
  Speaker 2: I don't know. It's the real... Basically, you put goggles
• 4:09
  Speaker 2: on and it looks like you're 3D or 4D. It
• 4:12
  Speaker 2: looks like you're actually in a concert. If you put
• 4:14
  Speaker 2: a Metallica... and are seeing me, and it looks like
• 4:18
  Speaker 2: you're literally right beside the singer. It's unreal. You can
• 4:21
  Speaker 2: put the things on and easily, and I've done it,
• 4:24
  Speaker 2: easily get two or three hours into it, and you
• 4:28
  Speaker 2: don't even realize any time has gone by. You really
• 4:30
  Speaker 2: think you're at the actual event, standing watching a movie.
• 4:34
  Speaker 2: And those sell between $ 4, 500 and $ 5, 000. The iPhones, the iPads,
• 4:39
  Speaker 2: as you've seen, they're already expensive. But when I tell
• 4:42
  Speaker 2: you they have a line out the door, I mean
• 4:45
  Speaker 2: literally a line out the door. So I don't know, Ron,
• 4:48
  Speaker 2: if there is a breaking price point. I think that, honestly,
• 4:52
  Speaker 2: I think that those bozos could charge $ 2, 000 on an
• 4:54
  Speaker 2: iPhone and get it. That's what I think. But they
• 4:57
  Speaker 2: blame the retail price increase on the semiconductor market being
• 5:03
  Speaker 2: supply and demand being the demand is outweighing the supply.
• 5:08
  Speaker 2: You know, Apple's got more money than a lot of countries.
• 5:11
  Speaker 2: So when I hear about, like, Apple raising the prices
• 5:15
  Speaker 2: to do this or that, I think it's ridiculous.
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  Speaker 4: You're right.
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  Speaker 2: One of the most profitable companies ever to exist.
• 5:21
  Speaker 1: And I would agree with you to what you said because...
• 5:24
  Speaker 1: There is a love people have for their iPhone.
• 5:28
  Speaker 3: And I do mean a love.
• 5:29
  Speaker 1: And if they say, OK, I'll keep it another year
• 5:32
  Speaker 1: or whatever. But when it's time to replace it, they
• 5:34
  Speaker 1: will definitely save or do whatever they have to do
• 5:37
  Speaker 1: to be able to get the next model. If they
• 5:41
  Speaker 1: price it five hundred dollars more than the last one.
• 5:43
  Speaker 3: It's one of those strange products that it.
• 5:46
  Speaker 1: I think you're right. The price point... I mean, you
• 5:48
  Speaker 1: could make it $ 10, 000. That's a different story. But modestly
• 5:53
  Speaker 1: large increases are not going to stop somebody from saying, well,
• 5:57
  Speaker 1: I'm going to get this iPhone and I'll keep it
• 5:59
  Speaker 1: for five years or ten years or whatever the case is.
• 6:02
  Speaker 2: Apple does something extremely ruthless that they've admitted to doing
• 6:06
  Speaker 2: and got fined on their ass for doing so. Do
• 6:10
  Speaker 2: you know what they do?
• 6:11
  Speaker 3: No.
• 6:12
  Speaker 2: They purposely... bog down your operating system on an older
• 6:17
  Speaker 2: phone to where it has glitches and bugs and they
• 6:20
  Speaker 2: don't fix them. And it forces you to buy a
• 6:23
  Speaker 2: new iPhone. I had an iPhone 15. I just traded
• 6:26
  Speaker 2: it in for, not traded in, but I bought a
• 6:28
  Speaker 2: new i17. I just did this three days ago. And
• 6:32
  Speaker 2: there's really not much difference. And there's like a couple
• 6:34
  Speaker 2: of different widgets and gadgets that are better, I guess.
• 6:37
  Speaker 2: But me, I got to tell you, and I know
• 6:38
  Speaker 2: because we're in the same kind of age bracket and
• 6:40
  Speaker 2: I don't want the damn thing to cook me breakfast
• 6:42
  Speaker 2: and chow my soup. You know what I want? I
• 6:44
  Speaker 2: want to answer my phone. I want the battery to
• 6:47
  Speaker 2: last more than four to five hours because I get
• 6:49
  Speaker 2: phone calls all day. And I want to check my
• 6:52
  Speaker 2: text messages. And, you know, that's all I want it
• 6:53
  Speaker 2: to do. The damn thing to cook me flapjacks now.
• 6:57
  Speaker 2: And it makes it too complicated. But, yeah, that's... New
• 7:02
  Speaker 2: generation loves that, right? They love the bells and whistles
• 7:05
  Speaker 2: and gadgets. And here's the other thing that people don't know, well,
• 7:09
  Speaker 2: some people do and most people don't, is they purposely
• 7:17
  Speaker 2: change it up to where it's... It's just a couple
• 7:21
  Speaker 2: extra gadgets here and there, but it's basically the same
• 7:24
  Speaker 2: exact phone. So that's why when they buy your phone
• 7:27
  Speaker 2: back or whatever, you get a pretty nice trade-in value
• 7:31
  Speaker 2: because they're just releasing a couple chips here and there
• 7:35
  Speaker 2: and mechanisms, and they're reselling you back a phone that's
• 7:38
  Speaker 2: either refurbished or new for a bigger price. That's just
• 7:42
  Speaker 2: the way it is, and that's that. I just wish
• 7:46
  Speaker 2: that they would just come out with a phone that works.
• 7:48
  Speaker 2: The battery stayed on for more than eight hours, and
• 7:51
  Speaker 2: it did my job. It got you under a trap.
• 7:54
  Speaker 3: It sounds to me like you need a flip phone again, John.
• 7:57
  Speaker 3: No offense.
• 7:58
  Speaker 2: No, listen. I'm getting email mode. I still read the
• 8:01
  Speaker 2: Wall Street Journal paper instead of digitally. I am like that.
• 8:05
  Speaker 2: It's my fault. I'll tell you one more thing about Apple.
• 8:09
  Speaker 2: They have algorithms. that they know human psychology to a
• 8:15
  Speaker 2: cent of what they're willing to spend on an upgrade.
• 8:18
  Speaker 2: So this iPhone price increase wasn't overnight. It came through
• 8:23
  Speaker 2: an actual algorithm that said, this is how much we
• 8:27
  Speaker 2: can charge additional to the existing iPhone without breaking our
• 8:31
  Speaker 2: price point with economies of scale, which means that they
• 8:35
  Speaker 2: know from robotics slash AI what the average American is
• 8:39
  Speaker 2: willing to spend on a new iPhone.
• 8:41
  Speaker 1: And as I look at the headlines as I talk
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  Speaker 1: to you tonight, John Arnold's here, Money Talks, News Radio 570, WKBN.
• 8:48
  Speaker 1: Apple posts worst day in over a year after MacBook
• 8:51
  Speaker 1: and iPad price hikes. But you're saying, listen, they researched this.
• 8:56
  Speaker 1: They can raise the price. People are going to buy
• 8:59
  Speaker 1: it anyway. They're going to get it. But yet the
• 9:02
  Speaker 1: market says we're going to discount the stock or we're
• 9:06
  Speaker 1: going to lower the stock a little bit as a
• 9:08
  Speaker 1: result of this. Yeah.
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  Speaker 3: Was it fair of them to do that, or do.
• 9:12
  Speaker 1: You think there's always that bounce back as time goes on?
• 9:16
  Speaker 2: Yeah, the dead cat bounce. I mean, just look at
• 9:20
  Speaker 2: a 20-year chart on Apple. They got it figured out.
• 9:23
  Speaker 2: Of course, there's an initial reaction to that. But I'd
• 9:27
  Speaker 2: be willing to bet all the tea in China that
• 9:30
  Speaker 2: in three months from now, you're going to see Apple
• 9:32
  Speaker 2: back where it was before or higher. Again, I have
• 9:35
  Speaker 2: to disclose that that's a guess.
• 9:37
  Speaker 1: Right.
• 9:37
  Speaker 2: But that's my opinion. I think my opinion is today
• 9:41
  Speaker 2: is really an anomaly and probably a value buy for
• 9:44
  Speaker 2: a lot of folks and saying, man, was it $ 300
• 9:47
  Speaker 2: if I can get Apple at $ 275? Let me jump
• 9:49
  Speaker 2: on that bandwagon. So I just think that it's an
• 9:53
  Speaker 2: initial reaction and could be a big money running it
• 9:56
  Speaker 2: down to get it low.
• 9:57
  Speaker 1: Now, talk a little bit about you were talking about Micron.
• 10:00
  Speaker 1: that it went up 15%. And Micron, for people that
• 10:05
  Speaker 1: are listening, they're what, a chip maker? What is Micron?
• 10:08
  Speaker 1: What do they make?
• 10:09
  Speaker 2: Infrastructure chip makers. So they build the infrastructure for the
• 10:12
  Speaker 2: chip makers. And the demand is out of this world.
• 10:16
  Speaker 2: It's crazy. So I bought that stock yesterday. In my
• 10:20
  Speaker 2: own portfolio, it's 338 key minuses before the hedge fund
• 10:24
  Speaker 2: opened up. And it went to the mid-900s for me,
• 10:28
  Speaker 2: and I sold. And I've been trading it ever since
• 10:31
  Speaker 2: off 1,100 to 1,000 and letting it bounce back. And today,
• 10:35
  Speaker 2: it opened up too high. I couldn't get in on that.
• 10:40
  Speaker 2: But it's a stock that's gone up from, call it 400,
• 10:44
  Speaker 2: to 1,200 from March to June. So think about that.
• 10:48
  Speaker 1: I mean, there's that much demand going on in this
• 10:51
  Speaker 1: AI sector, correct, in all the building that's going on?
• 10:55
  Speaker 2: Yes, there is. Yes, there is. You look at an
• 10:58
  Speaker 2: ETF like SOSX, which is an ETF that holds all
• 11:01
  Speaker 2: the semiconductor stuff, not all of the majority of them,
• 11:04
  Speaker 2: and that's a telltale sign. Look at it. It's basically
• 11:09
  Speaker 2: a slant up. Now, listen, I think you're getting to
• 11:13
  Speaker 2: an overbought scenario. I think that you're going to see
• 11:16
  Speaker 2: a pullback on the semiconductor just on big money driving
• 11:19
  Speaker 2: it down the value buy. But right now, that son
• 11:22
  Speaker 2: of a gun for the past half year is climbing
• 11:25
  Speaker 2: like a roller coaster going uphill like the old jackrabbit.
• 11:28
  Speaker 2: So it's just the way of the new world. And, hey,
• 11:33
  Speaker 2: if you're lucky enough to get in that and know
• 11:35
  Speaker 2: how to trade it like we do, I think there's
• 11:38
  Speaker 2: potentially a lot of money to be made.
• 11:40
  Speaker 1: Tahoe John Earl, Money Talks, NewsRadio 570. So give me
• 11:44
  Speaker 1: some input on the economy in general. I mean, who
• 11:47
  Speaker 1: knows where this whole situation is as far as the
• 11:51
  Speaker 1: Iran situation goes. You always have news on stuff like
• 11:54
  Speaker 1: that today as well. But, I mean, do you have–
• 11:58
  Speaker 1: what's your gut feeling about where our economy is going
• 12:02
  Speaker 1: and heading and oil prices?
• 12:06
  Speaker 3: Give me your insight.
• 12:08
  Speaker 2: Well, I think Trump is right in the face of
• 12:11
  Speaker 2: these oil companies. They use an excuse, the Iran war
• 12:17
  Speaker 2: started at the end of March, beginning of April. And
• 12:20
  Speaker 2: sure enough, two weeks later, oil, based on futures and
• 12:23
  Speaker 2: based on just, I don't know what the reason is,
• 12:26
  Speaker 2: went to $ 4 and above, right? So now oil's back
• 12:30
  Speaker 2: down to the 75, 77 area. And it was just
• 12:33
  Speaker 2: two months ago or a month ago, above $ 1. 10. There's
• 12:39
  Speaker 2: no decrease in the gas prices. And so everybody's kind
• 12:44
  Speaker 2: of wondering, including Trump, how do you justify that, Mr.
• 12:47
  Speaker 2: and Mrs.
• 12:47
  Speaker 1: Oil?
• 12:48
  Speaker 2: So I think it's a bunch of BS, you know that?
• 12:52
  Speaker 2: I was just talking about this today on my podcast
• 12:56
  Speaker 2: with Mike Case today. I think the economy's in trouble.
• 12:59
  Speaker 2: I do. I think that when you see the wealthy
• 13:04
  Speaker 2: start to pull back their spending... I think that's a
• 13:08
  Speaker 2: telltale sign. You have economists flashing big red lights about inflation.
• 13:13
  Speaker 2: This thing's getting hard. It's getting hard on even upper-class,
• 13:18
  Speaker 2: middle-class families. And that's that. So you're going to have
• 13:23
  Speaker 2: people taking less vacations or a shorter vacation. Here's what
• 13:27
  Speaker 2: some of the upper-class wealthy people are doing. They're getting, actually,
• 13:31
  Speaker 2: they're drinking at their home or at a dive bar.
• 13:34
  Speaker 2: And then they're going to a nice restaurant. They're not
• 13:37
  Speaker 2: ordering the appetizer. They're ordering something average and getting a
• 13:41
  Speaker 2: night out. And they used to order drinks at the restaurant.
• 13:44
  Speaker 2: They used to order an appetizer, a nice steak on
• 13:47
  Speaker 2: the menu, and then they would get a dessert and
• 13:50
  Speaker 2: go home. That's not happening anymore. When the wealthy start
• 13:52
  Speaker 2: to do that, now you're starting to see the cracks
• 13:55
  Speaker 2: in the ice. And that's what... That's what scares me.
• 13:58
  Speaker 2: And I hope that they get a hold of this
• 14:00
  Speaker 2: inflation because when people tell me like, oh, you know,
• 14:03
  Speaker 2: things are charging high and everybody's good. And by the way,
• 14:07
  Speaker 2: the person in the pudding, go out to eat and
• 14:10
  Speaker 2: go out to something that requires a lot of money
• 14:15
  Speaker 2: to spend. They're still filling the seats. So I'm going
• 14:19
  Speaker 2: to tell you something that's scary to tell you. And
• 14:22
  Speaker 2: it's an opinion. I think we're headed for a depression.
• 14:25
  Speaker 2: I do. Between AEI Private equity destroying our economy and inflation.
• 14:30
  Speaker 2: We have a perfect storm brewing right now. Another thing
• 14:34
  Speaker 2: that Trump is doing, I think, great that no one's
• 14:36
  Speaker 2: really given credit for is he is talking about single-family
• 14:41
  Speaker 2: homes being too costly for the average person out of
• 14:45
  Speaker 2: college or trade school. In some states, the average starter
• 14:48
  Speaker 2: home is $ 1 million. That means you would have to
• 14:50
  Speaker 2: come up with $ 200, 000 of down payment money just to
• 14:53
  Speaker 2: get an average home. And for me, that's crazy. So
• 14:58
  Speaker 2: there's some stuff that maybe I don't know what the
• 15:00
  Speaker 2: hell is going on anymore, and there's a new kind
• 15:03
  Speaker 2: of economy. Everything I'm reading says there's some pain coming,
• 15:07
  Speaker 2: some major pain coming.
• 15:10
  Speaker 1: Boy, my ears are burning. They have really perked up
• 15:13
  Speaker 1: just on that last statement that you're making. I mean,
• 15:18
  Speaker 1: so you're looking economically, and you are deeply, deeply concerned
• 15:24
  Speaker 1: about with where we're going, because I understand the recessions,
• 15:30
  Speaker 1: but when you start using the depression word, that becomes
• 15:33
  Speaker 1: just downright frightening.
• 15:37
  Speaker 2: It just seems like history repeats itself. If you look
• 15:39
  Speaker 2: at the 20s, right, the roaring 20s, you see how
• 15:42
  Speaker 2: great things were going. I mean, it made no sense,
• 15:47
  Speaker 2: some of the stuff, the prices and how great. Everybody
• 15:49
  Speaker 2: was so happy in the 20s, right? And then 1929
• 15:53
  Speaker 2: came across and just crashed everything. And then thankfully and unthankfully,
• 15:57
  Speaker 2: World War II kind of pulled us out of it.
• 16:01
  Speaker 2: But we have a lot of the same things going
• 16:04
  Speaker 2: on right now to where things are just too good
• 16:07
  Speaker 2: to be true. There's going to be a hole in
• 16:10
  Speaker 2: the bucket. So eventually the water runs out of the
• 16:13
  Speaker 2: bucket and there's nowhere else to go. Now, something has
• 16:16
  Speaker 2: happened because we learned some lessons from the Great Depression
• 16:19
  Speaker 2: and depression and recessions. By the way, I think they
• 16:23
  Speaker 2: didn't say it, but let's face it, 2008 was a depression.
• 16:26
  Speaker 2: It wasn't a recession. So when they say that things
• 16:31
  Speaker 2: are going good and everybody's humming along, just ask XYZ,
• 16:37
  Speaker 2: normal person in... Say Columbus, you and your wife are
• 16:42
  Speaker 2: making together $ 120, 000 a year. Are you living a fabulous lifestyle?
• 16:46
  Speaker 2: And that answer is no, we're living. We're surviving. We're
• 16:50
  Speaker 2: living a decent life. But when somebody has to make
• 16:52
  Speaker 2: $ 120, 000 a year in the state of Ohio, they had
• 16:55
  Speaker 2: a good life. It wasn't just living. You look at
• 16:58
  Speaker 2: what this ASSHOLE in New York is doing. That's a
• 17:05
  Speaker 2: big telltale sign about what I'm talking about. You know,
• 17:07
  Speaker 2: they had, obviously, a socialist mayor. Now, I think they
• 17:11
  Speaker 2: just elected a primary socialist senator coming on board.
• 17:17
  Speaker 1: Several socialists won, and the Democrats socialists won in New
• 17:20
  Speaker 1: York in the primary.
• 17:21
  Speaker 3: You are correct.
• 17:24
  Speaker 2: Think about the message here. Think about the message. New
• 17:28
  Speaker 2: Yorkers know, people know, they know that it's wrong. But
• 17:31
  Speaker 2: what's happened is you got people making $ 200, 000 a year,
• 17:36
  Speaker 2: families in New York, they're not making it. Right. Once
• 17:39
  Speaker 2: you think about how much $ 200, 000 a year is, all right,
• 17:44
  Speaker 2: they're not making it, or if they're making it, they're
• 17:46
  Speaker 2: barely making it, right? You know what's happened is they
• 17:49
  Speaker 2: forced people to say, you know what? What's the use?
• 17:54
  Speaker 2: Let's vote for something else. It's not like it can hurt.
• 17:58
  Speaker 2: And so that's what scares me. If you can get
• 18:01
  Speaker 2: a socialist agenda passed in a city that was built
• 18:06
  Speaker 2: on capitalism, you think about, it was built on people
• 18:09
  Speaker 2: coming in from Europe with a loaf of bread and
• 18:11
  Speaker 2: a nickel in their pocket with hope, right? Saying, I
• 18:15
  Speaker 2: can do it. I can go from being an immigrant
• 18:18
  Speaker 2: that can hardly speak English with a nickel in my
• 18:19
  Speaker 2: pocket to build a million dollar business. That was what
• 18:22
  Speaker 2: made America great. So now we're reversing course and saying,
• 18:27
  Speaker 2: you know what? Give me socialism because I have no
• 18:29
  Speaker 2: way out. And here's my scare. The media and the
• 18:33
  Speaker 2: marketing of that does a great job. Maybe that message
• 18:36
  Speaker 2: resounds in Charlotte, Atlanta, Georgia, some of these more liberal cities.
• 18:43
  Speaker 2: And now you got three cities. I'm just guessing. I'm
• 18:45
  Speaker 2: making something up here. Now you got three cities saying,
• 18:48
  Speaker 2: you know what? Maybe the social singing ain't bad and
• 18:52
  Speaker 2: isn't bad. And then it catches wildfire. And then maybe
• 18:55
  Speaker 2: now Los Angeles is socialist, and now maybe Seattle catches fire.
• 19:01
  Speaker 2: That's what scares me. And if when you put people
• 19:04
  Speaker 2: in a corner saying we have no way out, and
• 19:06
  Speaker 2: they're voting for socialism, there's a message there that no
• 19:09
  Speaker 2: one's paying attention to.
• 19:28
  Speaker 5: A urgent weather message. The National Weather Service in Cleveland
• 19:32
  Speaker 5: has issued a severe thunderstorm warning for southwestern Trumbull County
• 19:36
  Speaker 5: in northeastern Ohio, northeastern Portage County in northeastern Ohio, southeastern
• 19:42
  Speaker 5: Geauga County in northeastern Ohio, until 7.15 p.m. EDT.
• 19:45
  Speaker 2: At 6.23 p.m. EDT.
• 19:50
  Speaker 5: A severe thunderstorm was located near Manoway or 13 miles
• 19:54
  Speaker 5: north of Ravenna, moving east at 30 mph. Hazard, quarter-size hail. Source,
• 20:01
  Speaker 5: radar indicated. Impact, minor damage to vehicles is possible. Locations
• 20:07
  Speaker 5: impacted include Warren, Lordstown, Garrettsville, West Farmington, Bristolville, Levittsburg, Parkman, Hiram,
• 20:15
  Speaker 5: and Champion Heights. For your protection, move to an interior
• 20:19
  Speaker 5: room on the lowest floor of a building. Repeating, a
• 20:23
  Speaker 5: severe thunderstorm warning has been issued until 7.15 p.m. EDT
• 20:27
  Speaker 5: for the following counties in Ohio, Geauga, Portage, and Trumbull.
• 20:38
  Speaker 1: There you have it, NewsRadio 570. You know what to
• 20:40
  Speaker 1: do with the weather advisory, so take note of that.
• 20:43
  Speaker 1: We're talking with John Arnold, Money Talks program. John, this
• 20:47
  Speaker 1: is a fascinating topic. I took a call on the
• 20:50
  Speaker 1: program either today or maybe it was yesterday when the
• 20:53
  Speaker 1: caller was saying they're making more money than they ever
• 20:57
  Speaker 1: thought they would make. In our community, we're talking, John,
• 20:59
  Speaker 1: in our community, than they ever dreamed that they would make.
• 21:02
  Speaker 3: And yet..
• 21:04
  Speaker 1: It seems as though it's not enough because of inflation.
• 21:07
  Speaker 1: Good guy, good career, good job. Shouldn't be worrying about
• 21:13
  Speaker 1: the things you're talking about. Everything that you were just
• 21:16
  Speaker 1: saying made me think of that caller who said how
• 21:20
  Speaker 1: concerned he was. And there's a big problem here. Is
• 21:23
  Speaker 1: it that capitalism, you've got too many people falling behind
• 21:28
  Speaker 1: who are working hard, as you describe, and the inflation
• 21:30
  Speaker 1: is so high that people are saying, let's try another way,
• 21:35
  Speaker 1: particularly younger people?
• 21:39
  Speaker 2: You've beaten them down into submission. So that's what we
• 21:42
  Speaker 2: do in jiu-jitsu. So we wear people down to where
• 21:45
  Speaker 2: they're just so weak, we put a submission receipt, put
• 21:48
  Speaker 2: a move on them. from the technique to where they're like,
• 21:50
  Speaker 2: they just tap out because they're just so exhausted or
• 21:52
  Speaker 2: the pain's too much. That is exactly what's going on.
• 21:55
  Speaker 2: And what especially young people in the middle class are saying, hey,
• 22:00
  Speaker 2: we're working 60 hours a week. We've been shutting the
• 22:03
  Speaker 2: lights off. We're doing everything right. And we're still not
• 22:06
  Speaker 2: making it. And we're making a ton of damn money. So,
• 22:10
  Speaker 2: you know, when you put people on the submission, two
• 22:13
  Speaker 2: things happen. Either they fully submit or they start to revolt.
• 22:17
  Speaker 2: And so my hope is that people grow a pair
• 22:19
  Speaker 2: of balls and start to revolt and say, enough's enough.
• 22:22
  Speaker 1: Right.
• 22:23
  Speaker 3: I certainly hope you're right about that. Stand by, John.
• 22:26
  Speaker 3: We're going to come back after the break.
• 22:28
  Speaker 1: We're going to talk about John's hedge fund and how
• 22:30
  Speaker 1: you can get involved in it and what it's all
• 22:33
  Speaker 1: about in segment number two. I got to tell you,
• 22:36
  Speaker 1: it's what I enjoy about talking with John Arnold when
• 22:40
  Speaker 1: he gives his assessment. Before I break, John, I mean,
• 22:44
  Speaker 1: I am still... Almost tongue-tied when I heard you talk
• 22:47
  Speaker 1: about you're worried about a recession and potentially a depression
• 22:51
  Speaker 1: based on how things are going because of AI, because
• 22:54
  Speaker 1: of inflation. I mean, that is just, I mean, that
• 22:59
  Speaker 1: is really stuns me. It really stuns me. Johnny can
• 23:02
  Speaker 1: elaborate a little bit more on that. We'll talk about
• 23:04
  Speaker 1: the hedge funds. It's something you don't want to miss.
• 23:07
  Speaker 1: Segment two, Money Talks with John Arnold. We're going to
• 23:11
  Speaker 1: hook up with John. Segment number two on NewsRadio 570.
• 23:14
  Speaker 1: But first, let me talk to you about Stadium GM
• 23:16
  Speaker 1: in the heart of Salem, where all the brands you
• 23:18
  Speaker 1: want for GM is under one roof, whether that's Chevrolet,
• 23:22
  Speaker 1: whether that's Buick. Oh, and Buick is just making some
• 23:25
  Speaker 1: great product anymore. It's not your father's Buick anymore. And
• 23:29
  Speaker 1: like I say, Chevrolet, Buick, GMC, and of course, Cadillac,
• 23:33
  Speaker 1: all under one roof, all at Stadium GM. Not part
• 23:36
  Speaker 1: of some large conglomerate, but a dealership that's been there,
• 23:40
  Speaker 1: Shorty Navarro and company. For years, it truly is honored
• 23:44
  Speaker 1: to have your business, strives to keep your business and
• 23:47
  Speaker 1: the rest of your family's business, and has for many,
• 23:50
  Speaker 1: many years and many, many decades for many of our
• 23:52
  Speaker 1: families and our community. That's the Stadium GM way, I
• 23:55
  Speaker 1: can tell you, as a customer. So if you're in
• 23:57
  Speaker 1: the market for any vehicle, go see Stadium GM. It's
• 24:01
  Speaker 1: not part of some large group of dealers. It's Stadium GM.
• 24:05
  Speaker 1: It's people that know your name, will continue to know
• 24:08
  Speaker 1: your name, are honored by your business, and continue to
• 24:10
  Speaker 1: want your business. Whether you're buying or leasing, new or used,
• 24:14
  Speaker 1: you can visit the website stadiumgm.com, take a look at
• 24:16
  Speaker 1: all they have. As a customer, I can tell you,
• 24:19
  Speaker 1: you won't find a dealership that treats you any better
• 24:22
  Speaker 1: than the good folks at Stadium GM in the heart
• 24:24
  Speaker 1: of Salem. Now, I want to go back to John Arnold. Folks,
• 24:27
  Speaker 1: if you missed the first segments... One of the things
• 24:31
  Speaker 1: I personally enjoy the most is when I asked John
• 24:33
  Speaker 1: Earl what his thoughts are about how things are going
• 24:36
  Speaker 1: as far as the economy goes. If you miss the
• 24:38
  Speaker 1: first segment, you're going to have to listen to it
• 24:41
  Speaker 1: because he was talking. He's concerned about potentially a recession
• 24:46
  Speaker 1: and or even deepening. Everybody hates to hear the depression
• 24:49
  Speaker 1: word because it's much different than it would be, I think,
• 24:52
  Speaker 1: back in the day. But a recession or a very
• 24:54
  Speaker 1: deep recession is what you're concerned about, John. You were
• 24:57
  Speaker 1: talking because of the jobs that AI will replace. And
• 25:03
  Speaker 1: you were also talking about algorithms. I'll get back to that.
• 25:07
  Speaker 1: But you were talking about. the dangers of private equity firms.
• 25:12
  Speaker 3: Talk to me.
• 25:13
  Speaker 1: That was the third one. You had three reasons why
• 25:15
  Speaker 1: you were concerned about the future of the economy. What
• 25:17
  Speaker 1: did you mean by that?
• 25:20
  Speaker 2: Now that's the real demon that no one's talking about.
• 25:23
  Speaker 2: So private equity is a group of wealthy people. And
• 25:26
  Speaker 2: by the way, I'm probably going to start a private
• 25:27
  Speaker 2: equity fund for real estate and for businesses, but I
• 25:31
  Speaker 2: got to get my first one filled out first. But,
• 25:34
  Speaker 2: I'm hopefully that I don't go evil like majority of
• 25:37
  Speaker 2: these private equity firms do. So here's what happens. A
• 25:40
  Speaker 2: bunch of wealthy people that say, you know what, we
• 25:43
  Speaker 2: think that this actually happened. We think these eye care
• 25:47
  Speaker 2: centers that are owned by these mom and pop eye
• 25:50
  Speaker 2: doctors that are excellent at their job, we think we
• 25:54
  Speaker 2: can make them an offer for a really nice offer
• 25:57
  Speaker 2: and buy their practices out, get them to stay on
• 26:00
  Speaker 2: with us for a couple of years. and then transition
• 26:02
  Speaker 2: them out and plug our own stuff in, and then
• 26:06
  Speaker 2: balance the budget, so to speak, that's what the listeners
• 26:09
  Speaker 2: would understand, to where now it's way more profitable in
• 26:12
  Speaker 2: like five years. The numbers look really good on paper.
• 26:17
  Speaker 2: And then we sell it to another private equity firm
• 26:20
  Speaker 2: for 10x, which means 10 times the amount that they
• 26:22
  Speaker 2: paid it. So what's happening behind the scenes that no
• 26:25
  Speaker 2: one's talking about is these small businesses, the mediocre mid-sized
• 26:30
  Speaker 2: business that were owned by people like me and other
• 26:35
  Speaker 2: folks that truly cared about their customer, we're getting huge
• 26:38
  Speaker 2: checks to just say, you know what? I can't do
• 26:42
  Speaker 2: it anymore. And listen, one of the reasons why I,
• 26:47
  Speaker 2: by the way, turned down private equity to sell to
• 26:49
  Speaker 2: Adam and Joe because I had cost clients private it.
• 26:53
  Speaker 2: privately that I can't name that sold out the private equity.
• 26:56
  Speaker 2: And they said, Oh my God, what a nightmare that was.
• 26:59
  Speaker 2: They used and abused them. They were under contract. They
• 27:02
  Speaker 2: didn't get the final check until, you know, until the
• 27:05
  Speaker 2: very last month. And if they didn't meet the certain
• 27:07
  Speaker 2: number as far as retaining revenue or customers or both,
• 27:11
  Speaker 2: they didn't get their final check. So they had them
• 27:13
  Speaker 2: by the, you know, what's right. So, But boy, when
• 27:16
  Speaker 2: they can cash out, they cash out. I even had
• 27:19
  Speaker 2: one person cash out early. She said, screw the final check.
• 27:23
  Speaker 2: I can't do this anymore. So what happens is these
• 27:26
  Speaker 2: wealthy people subscribe to a fund. This private equity fund
• 27:30
  Speaker 2: goes and buys a certain sector of business. And they
• 27:34
  Speaker 2: scale it. And what happens, scale means that economies are
• 27:38
  Speaker 2: scaled to where the more units, the lesser cost. And
• 27:42
  Speaker 2: they also apply something called a Pareto rule. A Pareto
• 27:44
  Speaker 2: rule is 80-20. So you might lose 20% of your clientele,
• 27:50
  Speaker 2: but the 80% that stay, you'll raise the price on them.
• 27:52
  Speaker 2: So you'll have less operating costs but more profit. And
• 27:57
  Speaker 2: it's worked. They figured it out. And you combine that
• 28:01
  Speaker 2: with the algorithms, and you combine that with AI, which
• 28:04
  Speaker 2: is going to make it even more efficient. Private equity, algorithms,
• 28:08
  Speaker 2: and AI in digital currency, I think, are the end
• 28:11
  Speaker 2: all for our days. I think that's going to be
• 28:14
  Speaker 2: the final stake in the heart for capitalism, for the
• 28:18
  Speaker 2: working man and woman to go out and start something.
• 28:20
  Speaker 2: And it's happening right before my very eyes. They're doing
• 28:23
  Speaker 2: it in the financial field. They're doing it in the
• 28:25
  Speaker 2: accounting field.
• 28:26
  Speaker 6: They..
• 28:27
  Speaker 2: I think Handles is out by private equity, majority of
• 28:29
  Speaker 2: it now. You wouldn't believe how many shops you think
• 28:34
  Speaker 2: are owned by mom and pop now that private equity owns.
• 28:37
  Speaker 2: And they're just writing out their days till they get
• 28:39
  Speaker 2: their final check. So when you walk into a clinic
• 28:42
  Speaker 2: now or a business and you're like, holy, you know what? Boy,
• 28:45
  Speaker 2: the service has really gone downhill or the product really
• 28:48
  Speaker 2: sucks or both. You know what's happening is private equity
• 28:52
  Speaker 2: has taken over. You just don't know it. They kept
• 28:54
  Speaker 2: the same name. They kept the same brand. They kept
• 28:57
  Speaker 2: the same everything. On the cover of the magazine, it
• 28:59
  Speaker 2: looks like the same people. It looks like the same operation.
• 29:02
  Speaker 2: But what you don't know, it's not the same service
• 29:04
  Speaker 2: and it's not the same product. You're probably getting a
• 29:07
  Speaker 2: way lesser product-related service because, again, their goal is to
• 29:10
  Speaker 2: make the numbers and the margins as big as possible
• 29:12
  Speaker 2: so they can solicit that group of whatever they bought
• 29:17
  Speaker 2: to a bigger private equity firm and get a bigger number.
• 29:21
  Speaker 3: And you know what?
• 29:21
  Speaker 2: Money talks and you know what walks. And you know
• 29:23
  Speaker 2: what happens? Say you got 100 people offering a million dollars,
• 29:28
  Speaker 2: that's $ 100 million. You start offering $ 5 million buyouts to
• 29:33
  Speaker 2: small medical clinics or small dentistry or small people that
• 29:38
  Speaker 2: build decks for a living. I'm just making stuff up.
• 29:41
  Speaker 2: They're going to take it because you know what? I
• 29:43
  Speaker 2: would too. If I'm just worn down and like I was.
• 29:48
  Speaker 3: No, no, no. Just pause for a second.
• 29:51
  Speaker 1: This is– I mean when– Folks, my ears are perking
• 29:55
  Speaker 1: up as he's talking, because I'm here to tell you,
• 29:58
  Speaker 1: this is going on in this community and so many
• 30:02
  Speaker 1: other communities. What you're saying is 100% true. They keep
• 30:07
  Speaker 1: the name of the small business that they bought. They
• 30:11
  Speaker 1: don't change the name or indicate that it's changed any
• 30:14
  Speaker 1: different at all. In many cases, like you say, they
• 30:16
  Speaker 1: keep the owners on for a period of time. But
• 30:19
  Speaker 1: it's owned by a private equity firm whose goal is
• 30:22
  Speaker 1: to how can we make more money? How can we
• 30:27
  Speaker 1: screw the customer more? And you're seeing this happen. In
• 30:32
  Speaker 1: the heating and cooling industry. My friend Bob Dieter talks
• 30:37
  Speaker 1: about it all the time. You're seeing in the heating
• 30:39
  Speaker 1: and cooling industry where local companies aren't local anymore. These
• 30:45
  Speaker 1: investment companies buy them. They have the technician that comes
• 30:48
  Speaker 1: out to fix your product. And instead of fixing it,
• 30:51
  Speaker 1: they tell you you need to replace it because they
• 30:53
  Speaker 1: incentivize the technician who should be repairing your thing that
• 30:57
  Speaker 1: if you sell them a new system or tell them
• 30:59
  Speaker 1: they need a new system, you'll get some big bonus
• 31:01
  Speaker 1: and everybody makes more money. But it costs the customer more.
• 31:04
  Speaker 1: You follow what I'm saying? It's dishonest.
• 31:08
  Speaker 2: I'm explaining it. You know what?
• 31:11
  Speaker 1: I just want to emphasize, this is in funeral homes.
• 31:15
  Speaker 1: This is in heating and cooling. This is in funeral homes.
• 31:18
  Speaker 1: This is going on in so many small businesses that
• 31:21
  Speaker 1: have the same name, but it's owned by an investment company.
• 31:24
  Speaker 1: You are just spot on as you're talking. Go ahead, please.
• 31:29
  Speaker 2: Well, here's the thing. They are going to incorporate more
• 31:33
  Speaker 2: in AI. They're going to incorporate more low-level employees. They're
• 31:36
  Speaker 2: going to incorporate way less quality of a product. And
• 31:41
  Speaker 2: you're going to not realize it until it's too late.
• 31:43
  Speaker 2: And then they're going to resell it to another private
• 31:46
  Speaker 2: equity firm who's going to do the same thing but
• 31:49
  Speaker 2: even worse. And then before you even know it, 60%, 70%
• 31:52
  Speaker 2: of our manufacturers and service providers are going to be
• 31:56
  Speaker 2: private equity-based. Then what are you going to do?
• 32:00
  Speaker 1: Where the focus is all about how can we make
• 32:03
  Speaker 1: even more money. I mean, I do not want to
• 32:06
  Speaker 1: go to, as you were saying, an eye doctor clinic
• 32:09
  Speaker 1: that's bought by a private equity firm that tells the
• 32:11
  Speaker 1: eye doctor you've got to move the patients along. You've
• 32:13
  Speaker 1: got to get more people in there so we can
• 32:15
  Speaker 1: make more money.
• 32:16
  Speaker 3: Or a medical doctor.
• 32:18
  Speaker 1: You want to go to places like that that you
• 32:20
  Speaker 1: feel they have your best interest at heart, that they're
• 32:23
  Speaker 1: not part of a private equity firm.
• 32:26
  Speaker 3: I was reading where... Dr.
• 32:29
  Speaker 1: Allen wrote a letter to the Vindicator on how this
• 32:31
  Speaker 1: is very prevalent, John, in veterinary clinics.
• 32:35
  Speaker 2: Oh, it sure is.
• 32:37
  Speaker 1: And what do they do? They buy the veterinary services.
• 32:41
  Speaker 1: They put in new equipment. They kind of pressure the
• 32:45
  Speaker 1: vet to encourage people to use it.
• 32:49
  Speaker 3: It's costly.
• 32:50
  Speaker 1: I mean, when you read what he wrote in a paper,
• 32:52
  Speaker 1: this is just a place where you take your dog
• 32:54
  Speaker 1: or cat.
• 32:56
  Speaker 3: Uh-uh.
• 32:57
  Speaker 2: That's not what it is. To them, they don't even
• 32:59
  Speaker 2: look at it like that. They could give a rat's
• 33:01
  Speaker 2: ass what you're selling or servicing. They just know that
• 33:03
  Speaker 2: it's a profitable business and they can make it even
• 33:05
  Speaker 2: more profitable. That's the problem. There's no heart in it.
• 33:08
  Speaker 2: There's no humanity in it. There's just a numbers game.
• 33:11
  Speaker 2: And here's the other problem. They're using humanity against itself.
• 33:15
  Speaker 2: So let's say you've been working 30 years, and it's
• 33:19
  Speaker 2: hard to find employees, and the cost of everything is
• 33:21
  Speaker 2: going up, and you're getting the age to where your
• 33:24
  Speaker 2: kids are growing, your grandkids.
• 33:26
  Speaker 3: You want to retire.
• 33:26
  Speaker 2: There's always a $ 5 million check in front of you.
• 33:29
  Speaker 1: Right.
• 33:29
  Speaker 2: And they say, we're going to give you 60% of
• 33:33
  Speaker 2: this upfront, 20% on the second year if this revenue holds,
• 33:36
  Speaker 2: and then 20% thereafter, and then you're out of here.
• 33:39
  Speaker 2: You know what you're going to do? You're going to say,
• 33:41
  Speaker 2: you know what? I got to look out for my
• 33:42
  Speaker 2: own family and my own life because I only got
• 33:43
  Speaker 2: so many years left. I'm going to take that check.
• 33:45
  Speaker 3: Right.
• 33:46
  Speaker 2: Even if you don't want to, right?
• 33:47
  Speaker 7: Right.
• 33:48
  Speaker 2: Because here's the other thing that I was talking about.
• 33:50
  Speaker 2: It is so damn hard to get quality employees. So
• 33:53
  Speaker 2: when you're trying to run an operation how you used to,
• 33:56
  Speaker 2: you can't do it anymore. That was one of the
• 33:58
  Speaker 2: things that hurt me. I ran an operation that was militant. Like,
• 34:01
  Speaker 2: you said good morning, good afternoon. You answered the phone
• 34:04
  Speaker 2: on the second ring. You made sure that the client
• 34:07
  Speaker 2: knew that they were writing your paycheck. Like, you don't
• 34:11
  Speaker 2: come in late. You come just as soon. So all
• 34:12
  Speaker 2: the things that I was taught that I believed in,
• 34:14
  Speaker 2: those don't exist anymore. Now you go into a restaurant,
• 34:18
  Speaker 2: the host or host looks like a bum. They're on
• 34:20
  Speaker 2: the phone. You might get a good survey. You might not.
• 34:23
  Speaker 2: It doesn't matter. But what's happened is you got businesses
• 34:26
  Speaker 2: overwhelmed and basically submitted to saying, you know what? We
• 34:30
  Speaker 2: just want a body. We just want a body in
• 34:33
  Speaker 2: the place because we have no other option. Now in
• 34:36
  Speaker 2: comes private equity. So I'm going to save the day.
• 34:39
  Speaker 2: Here's this check. We're going to take over. Go live
• 34:42
  Speaker 2: happily ever after with your life in three years. And
• 34:45
  Speaker 2: you as a person are saying.
• 34:47
  Speaker 3: You know what?
• 34:48
  Speaker 2: I'll never do that. I'll never do it. And guess what?
• 34:50
  Speaker 2: There's a $ 3 or $ 5 million check in front of
• 34:52
  Speaker 2: your face, and you're getting older. You're saying, you know what?
• 34:54
  Speaker 2: I can't do this anymore. I'm taking the check. That's
• 34:56
  Speaker 2: what's going on. They have submitted humanity, and they submitted
• 35:00
  Speaker 2: the average American to saying, you know what? I got
• 35:02
  Speaker 2: to move forward because this is the end. I have
• 35:04
  Speaker 2: to live my best days out. And now America submitted
• 35:08
  Speaker 2: the private equity. What I just told you is straight truth.
• 35:10
  Speaker 2: And what Dr. Allen did, who's a straight talker too,
• 35:13
  Speaker 2: he's telling the truth. I'm telling you things, listeners, that
• 35:15
  Speaker 2: you maybe don't know what's going on. Right before your
• 35:18
  Speaker 2: very eyes, your country is unfolding. It's imploding right before
• 35:21
  Speaker 2: your eyes. And there's not a damn thing you're doing
• 35:23
  Speaker 2: about it.
• 35:24
  Speaker 3: And can I say a lot of this is greed?
• 35:29
  Speaker 3: It's all greed.
• 35:30
  Speaker 2: It's all greed.
• 35:31
  Speaker 1: This is perhaps why some of these young people are
• 35:33
  Speaker 1: voting Democrat Socialist, because they're looking around and seeing what's
• 35:37
  Speaker 1: going on. These folks are triggering that reaction. Revolutions are
• 35:43
  Speaker 1: fought on hungry bellies.
• 35:46
  Speaker 2: Exactly. But you know what's cool? No, it's cool. This
• 35:48
  Speaker 2: is all political. Exactly what private equity wants. They want robots.
• 35:53
  Speaker 2: They want to give you X amount of units, and
• 35:56
  Speaker 2: they want to say you get to work less money
• 35:57
  Speaker 2: or work less hours. We're going to give you less,
• 36:00
  Speaker 2: but you're going to get more time off, and that's
• 36:02
  Speaker 2: the new generation. That's what they're about. So they love
• 36:06
  Speaker 2: the socialism. They love the private equity. They love the
• 36:08
  Speaker 2: fact that they can have their little minions and their
• 36:10
  Speaker 2: robots because now they don't have competition. Their only other
• 36:14
  Speaker 2: competition is private equity, which is just other greed. That's
• 36:17
  Speaker 2: the only thing that matters now is greed. And you're
• 36:20
  Speaker 2: seeing it in medical, you're seeing it, like you said,
• 36:23
  Speaker 2: in funeral homes, in veterinarian, you're seeing it in dentistry,
• 36:25
  Speaker 2: you're seeing it especially in financial services practice, insurance practice,
• 36:30
  Speaker 2: accounting practice. They are scaling everything through private equity. And
• 36:34
  Speaker 2: guess what? That's why when you call somewhere and sometimes
• 36:38
  Speaker 2: you got an American, sometimes you got an Indian, now
• 36:39
  Speaker 2: you're strictly getting an Indian. You're strictly getting, you know,
• 36:44
  Speaker 2: Wong Kung Foo-y from somewhere. At the end of the day,
• 36:46
  Speaker 2: it pisses me off because it's the opposite of what
• 36:49
  Speaker 2: this country is built on. But they have you under
• 36:51
  Speaker 2: their thumb. And you're right. It's driving everything. That's the
• 36:54
  Speaker 2: plan towards socialism. And unfortunately, there's a guy who's trying
• 36:59
  Speaker 2: to save it and some people with him. His name
• 37:00
  Speaker 2: is Donald Trump.
• 37:02
  Speaker 3: But guess what?
• 37:03
  Speaker 2: He's not going to win. He might win temporarily. But
• 37:07
  Speaker 2: this title wave is coming. and there's not a thing
• 37:10
  Speaker 2: you can do to stop it.
• 37:12
  Speaker 1: Well, as you were talking, I was thinking about where
• 37:15
  Speaker 1: Trump wants to limit how many homes these investment firms
• 37:19
  Speaker 1: would be buying, private homes. I mean, the ones like
• 37:23
  Speaker 1: all of us live in, and they would be buying
• 37:25
  Speaker 1: them with no inspection and be giving you more than
• 37:28
  Speaker 1: asking because they wanted to buy all the private homes,
• 37:31
  Speaker 1: raising the home prices on the market, shutting out first-time
• 37:34
  Speaker 1: homebuyers so that they could dominate it as far.
• 37:37
  Speaker 3: As rentals are concerned.
• 37:38
  Speaker 1: I mean, that's a shining example, isn't it, of what
• 37:41
  Speaker 1: you're talking about?
• 37:41
  Speaker 2: You control the supply and demand of the housing market.
• 37:45
  Speaker 2: And four years to six years, they've controlled the housing market.
• 37:49
  Speaker 2: That's why we have in some states the average daughter
• 37:51
  Speaker 2: home in a million dollars, because of BlackRock. And shame
• 37:54
  Speaker 2: on the people who let that happen. And here's the
• 37:57
  Speaker 2: guy trying to undo it, and he's being treated like
• 37:59
  Speaker 2: some kind of ass. And it's wrong. He's the only one.
• 38:03
  Speaker 2: He's fighting for both parties. He's fighting for the middle class,
• 38:05
  Speaker 2: the lower class, and the high class with that. But
• 38:07
  Speaker 2: BlackRock is like Vanguard and the other, what is it, Street?
• 38:11
  Speaker 2: They own like 70% of the S & P 500.
• 38:13
  Speaker 2: Good luck fighting those guys.
• 38:19
  Speaker 3: Wow.
• 38:21
  Speaker 1: I mean, I hope people are paying attention to this
• 38:23
  Speaker 1: because it is exactly what is going on. We're talking
• 38:28
  Speaker 1: with John Arnold, Money Talks, NewsRadio 570 WKBN. So you
• 38:33
  Speaker 1: mentioned about, we all know AI replacing jobs, and you mentioned...
• 38:37
  Speaker 1: these private equity firms, which is excellent. You lost me
• 38:41
  Speaker 1: a little bit on algorithms. You mean just tracking where
• 38:45
  Speaker 1: you are, what you're buying? Is that what you mean
• 38:47
  Speaker 1: by that real quick?
• 38:48
  Speaker 2: So an algorithm is now a computerized actuary. So it's
• 38:53
  Speaker 2: using AI to perform an algorithm. An algorithm is basically
• 38:56
  Speaker 2: a math efficiency theory that basically says, for, I don't know,
• 39:02
  Speaker 2: every hundred units, here's the probabilities of what's gonna happen.
• 39:05
  Speaker 2: They have mathematically figured it out on a computer. So
• 39:09
  Speaker 2: that's what that means. Like back in the day, a
• 39:12
  Speaker 2: human being, and it went to Ivy League school and
• 39:14
  Speaker 2: became what's called an actuary, they figured out at age
• 39:18
  Speaker 2: 40 the probability that somebody who's a smoker is probably
• 39:22
  Speaker 2: gonna die at this age. Someone who's not a smoker
• 39:25
  Speaker 2: is probably gonna die at this age. That would be
• 39:27
  Speaker 2: like a human capital algorithm. Now what's happened is, that's
• 39:31
  Speaker 2: why you have all these insurance companies that are coming
• 39:33
  Speaker 2: out of the woodwork saying, go online and apply for
• 39:35
  Speaker 2: this and we'll give you a policy overnight. They have
• 39:38
  Speaker 2: figured out from an algorithm to a perfect mathematic probability
• 39:43
  Speaker 2: on a ratio that if you're this age and you
• 39:45
  Speaker 2: have these medical symptoms and you're a smoker, you are
• 39:49
  Speaker 2: going to probably die within these months, X amount of
• 39:52
  Speaker 2: months from here. It could be 30 months, it could
• 39:54
  Speaker 2: be 100, I don't know. But they have made a
• 39:57
  Speaker 2: perfect algorithm To put the companies against humanity. That's why
• 40:06
  Speaker 2: your iPhone knows what to advertise to you. That's an algorithm.
• 40:11
  Speaker 2: Your iPhone might hear you talking about Home Depot and
• 40:14
  Speaker 2: going and.
• 40:14
  Speaker 3: Getting a grill.
• 40:15
  Speaker 2: And sure enough, you go on Facebook, there's going to
• 40:17
  Speaker 2: be 10 grills advertised to you in the next second.
• 40:19
  Speaker 2: That's an algorithm.
• 40:22
  Speaker 1: Wow. Yeah, it makes total sense to me. Let me
• 40:26
  Speaker 1: talk about the hedge funds. So much to talk about
• 40:29
  Speaker 1: with John Arnold here on Thursday night with Money Talks
• 40:32
  Speaker 1: on News Radio 570. Now I want to go and
• 40:35
  Speaker 1: I want to talk about the hedge funds. Going better
• 40:40
  Speaker 1: than you dreamed, obviously. I mean, it's something that you
• 40:42
  Speaker 1: always wanted to start. It occupies a heck of a
• 40:45
  Speaker 1: lot of your time. You still have some openings available.
• 40:49
  Speaker 1: But when you reach 100, that hedge fund is then capped.
• 40:53
  Speaker 1: Talk a little bit about the hedge fund, the requirements,
• 40:56
  Speaker 1: what it's all about for people that are listening for
• 40:59
  Speaker 1: the first time. The John Arnold hedge funds.
• 41:02
  Speaker 3: Tell them about it.
• 41:04
  Speaker 4: All right, listen.
• 41:04
  Speaker 2: So you have to be an accredited investor, which is
• 41:07
  Speaker 2: one of the things I love. Okay, you have to
• 41:09
  Speaker 2: have one of. You don't have to have all of these.
• 41:11
  Speaker 2: You have to have one of. You have to have
• 41:13
  Speaker 2: $ 1 million in assets between you and your wife outside
• 41:16
  Speaker 2: of your permanent residence. So if you live in a
• 41:18
  Speaker 2: house in Ohio and that's your permanent residence, but you
• 41:21
  Speaker 2: have a rental property and you have a home in Florida,
• 41:24
  Speaker 2: the rental property and the home in Florida count as
• 41:26
  Speaker 2: your assets. So you might have $ 600, 000 in a 401k,
• 41:29
  Speaker 2: $ 200, 000 in a savings account, and maybe another $ 500, 000 for
• 41:33
  Speaker 2: rental properties and a vacation home. Now you're well over
• 41:37
  Speaker 2: the million. So that would count. Or if you don't
• 41:42
  Speaker 2: have that, but you make over $ 200, 000 a year for
• 41:45
  Speaker 2: the past two years, you're an accredited investor. Or if
• 41:49
  Speaker 2: you have the ability to just dump in $ 200, 000, you're
• 41:52
  Speaker 2: an accredited investor. So one of those three have to happen.
• 41:57
  Speaker 2: Here's the reason why people have been loving the hedge fund.
• 42:01
  Speaker 2: It's me and 99 other investors that own this same
• 42:04
  Speaker 2: exact buy. Not more, not less, just we own these stocks.
• 42:10
  Speaker 2: We can make a hedge fund anything. I can buy
• 42:12
  Speaker 2: gravel at $ 10 a pound or a ton and then
• 42:16
  Speaker 2: sell it 30 days later for $ 100 a ton. There's
• 42:19
  Speaker 2: a 90% gain there, right? So my point is... Because
• 42:24
  Speaker 2: what I know, this is what I think I'm an
• 42:26
  Speaker 2: expert in. I can't prove it. I think I'm an
• 42:29
  Speaker 2: expert at better than average at stocks. So me and
• 42:32
  Speaker 2: 99 other investors own this pie of stocks. And you're saying, John,
• 42:36
  Speaker 2: I want you to perform. And if you don't perform,
• 42:38
  Speaker 2: we'll owe money back. The end. So at the end
• 42:41
  Speaker 2: of every month, we say this is what our fund
• 42:44
  Speaker 2: performed at. The end. I don't tell you what's in
• 42:46
  Speaker 2: the fund. I don't tell you up or down. Each position,
• 42:49
  Speaker 2: it just says at the end of 30 days, We
• 42:53
  Speaker 2: performed at this, the end. The cool thing I did
• 42:56
  Speaker 2: for our what's called limited partners is I only have
• 42:58
  Speaker 2: a 30-day hold. I'm not doing this for a living.
• 43:01
  Speaker 2: I'm doing this more for ego and to do something
• 43:03
  Speaker 2: I love and which I think I'm really good at.
• 43:05
  Speaker 2: So if you want out of the fund, all right,
• 43:08
  Speaker 2: you can get your money back out in 30 days.
• 43:09
  Speaker 2: I don't care. Somebody else is going to come in
• 43:11
  Speaker 2: for you. It doesn't bother me. So I built it
• 43:14
  Speaker 2: to where it's very advantageous for the client. Now, the
• 43:18
  Speaker 2: other thing I did that I think is very advantageous
• 43:20
  Speaker 2: is I have for me to get paid... I'm going
• 43:23
  Speaker 2: to make the fund 5% first. So if you put
• 43:26
  Speaker 2: in $ 100, 000, I'm going to make you 5%, which is $ 105, 000.
• 43:31
  Speaker 2: My clock, my fee doesn't start ticking until we start
• 43:34
  Speaker 2: hitting above $ 105, 000. And that's something you don't get in
• 43:37
  Speaker 2: other firms. So that's one of the things... Wealthy people
• 43:41
  Speaker 2: or wealthier people love about hedge fund investing is, one,
• 43:45
  Speaker 2: I have to perform no matter what the stock market does.
• 43:48
  Speaker 2: And two, there's a hurdle rate, which I just said.
• 43:50
  Speaker 2: They're going to get paid first, not me. Whereas before
• 43:54
  Speaker 2: when I owned the RA investment firm that Rockport bought,
• 43:57
  Speaker 2: I got paid on the total account value. Market went down,
• 44:00
  Speaker 2: I still got paid. Market went up, still got paid.
• 44:02
  Speaker 2: Did I lose when the market lost?
• 44:03
  Speaker 3: Yes, I did.
• 44:04
  Speaker 2: Did I make more money when the market made more? Yes,
• 44:05
  Speaker 2: I did. So we were kind of on the same team.
• 44:08
  Speaker 2: But now it's full functional performance. You either believe in
• 44:12
  Speaker 2: what I'm doing as a manager or you don't. And
• 44:15
  Speaker 2: if you don't, you just cash out. So that's why
• 44:18
  Speaker 2: there's been an overflow of people that I never in
• 44:22
  Speaker 2: a million years thought I was going to get this
• 44:24
  Speaker 2: many people. I have 58 signed commitments with another potential
• 44:28
  Speaker 2: 20 verbal. And the only reason why they're verbal is
• 44:30
  Speaker 2: because there's only me and another guy getting the application
• 44:34
  Speaker 2: process done. And I used to have a pretty sizable staff.
• 44:37
  Speaker 2: So it's just, there's this in line waiting. But man,
• 44:41
  Speaker 2: when I get to 100, it's filled up. Now here's
• 44:43
  Speaker 2: the day I'm dreaming of. Let's say October, November rolls around.
• 44:47
  Speaker 2: And I say, hey, me and Steve got this fund
• 44:50
  Speaker 2: up to say, again, here's a guess. Let's say it's
• 44:52
  Speaker 2: up 30% in August, excuse me, in October. I get
• 44:55
  Speaker 2: to report that on the radio, audited results, audited. And
• 44:59
  Speaker 2: so somebody can say, man, that guy really, That's what
• 45:02
  Speaker 2: he's doing. Or, let's say in October, hey, we're underperforming.
• 45:07
  Speaker 2: Now I have an uphill challenge. But it's all math.
• 45:10
  Speaker 2: And that's what I'm about. I used to tell people
• 45:13
  Speaker 2: who came into our firm, there's a guy that signed
• 45:14
  Speaker 2: up for the hedge fund. He said, you know why
• 45:17
  Speaker 2: I signed up with you? Because everybody else is pitching
• 45:19
  Speaker 2: about They're pitching me about, well, my kids played soccer,
• 45:23
  Speaker 2: and we'll go to church, and let me take you
• 45:25
  Speaker 2: out to lunch and take you out to golf. And
• 45:26
  Speaker 2: he said, you said, I don't care about any of
• 45:29
  Speaker 2: that stuff. I want you to succeed, and I'm happy
• 45:32
  Speaker 2: you're having a happy family life. But you know what?
• 45:34
  Speaker 2: I said, listen, you know what I care about? I
• 45:36
  Speaker 2: want to beat the S & P. I want to
• 45:38
  Speaker 2: make you the most money as possible. That's what I
• 45:40
  Speaker 2: care about. And he said, his wife actually said, her
• 45:42
  Speaker 2: name was Libby. She said, that's why we picked you.
• 45:45
  Speaker 2: You are the guy telling me what nobody else wanted
• 45:48
  Speaker 2: to tell us. And that's what matters to us. If
• 45:50
  Speaker 2: a friendship forms, great. If not, it's just like you
• 45:53
  Speaker 2: can go see a surgeon. And that guy could be
• 45:56
  Speaker 2: the biggest what in the world. But if he can
• 45:58
  Speaker 2: fix my heart and I can walk out of there
• 46:01
  Speaker 2: and I'm still living to provide my family, that's what
• 46:03
  Speaker 2: matters to me. If I have the nicest guy in
• 46:06
  Speaker 2: the world, but he can't perform heart surgery, no thank you.
• 46:09
  Speaker 2: So in my world, math matters. And this with a
• 46:12
  Speaker 2: hedge fund, it's strictly math. Either I'm performing or I don't.
• 46:16
  Speaker 2: It doesn't matter I'm 5'8, brown hair, blue eyes. It
• 46:18
  Speaker 2: doesn't matter if you think I'm this or that. At
• 46:20
  Speaker 2: the end of the day, I'm either a performer or
• 46:22
  Speaker 2: I don't, and that's why I dreamed of this day.
• 46:24
  Speaker 2: Because now it's full-blown math.
• 46:27
  Speaker 3: The end.
• 46:28
  Speaker 2: And math wins.
• 46:30
  Speaker 3: Well, absolutely.
• 46:33
  Speaker 1: So, John gave you the criteria if you're interested in
• 46:36
  Speaker 1: getting involved in his hedge funds. 100, it gets capped
• 46:41
  Speaker 1: out at 100. And so this is actively managed by
• 46:45
  Speaker 1: you each and every day on an active basis to..
• 46:50
  Speaker 2: Hourly.
• 46:51
  Speaker 1: I mean, it occupies a lot of time. But one
• 46:53
  Speaker 1: of the things that you said on a previous show
• 46:55
  Speaker 1: is you started a hedge fund. A lot of hedge funds,
• 46:57
  Speaker 1: you've got to have a million dollars or whatever you
• 46:59
  Speaker 1: were saying in previous ones. You wanted to start a
• 47:01
  Speaker 1: hedge fund for this area that's... regular people could kind
• 47:06
  Speaker 1: of get into. People that have some money saved could
• 47:09
  Speaker 1: participate in and get involved in a hedge.
• 47:15
  Speaker 2: Fund. I've been a hedge fund for people like me
• 47:17
  Speaker 2: who came from nothing and built some wealth at I couldn't,
• 47:20
  Speaker 2: I would never be invited to settle the hedge fund
• 47:22
  Speaker 2: or any, any other like Ray Dalio's fund, which is
• 47:25
  Speaker 2: a $ 25 million entry fee. Like, like, or not fee,
• 47:28
  Speaker 2: but minimum, like, right. Why can't we, why can't people
• 47:32
  Speaker 2: like us, you Ron, why can't we get into a
• 47:34
  Speaker 2: hedge fund too? And now you can't.
• 47:35
  Speaker 3: Right.
• 47:36
  Speaker 2: And then now I get to go one-on-one with these
• 47:38
  Speaker 2: guys and whip their ass. And that's, that's what I'm about.
• 47:41
  Speaker 1: There you have it. Now, if you're interested, we got
• 47:45
  Speaker 1: an email and phone number. If you're interested in getting
• 47:48
  Speaker 1: into hedge funds, that John Arnold's talking about that he
• 47:52
  Speaker 1: manages with a couple of other associates. How do you
• 47:56
  Speaker 1: explore the hedge fund? How do they get a hold
• 47:58
  Speaker 1: of you, John?
• 47:59
  Speaker 2: Yeah, you can call us at 330-288-7709. 330-288-7709. If you
• 48:02
  Speaker 2: don't like phone, then here's my email. J-O-N period Arnold
• 48:05
  Speaker 2: at theinvestment.coach. Again, J-O-N, period, A-R-N-O-L-D, at The Investment, period, Coach.
• 48:25
  Speaker 2: And if you reach out to me either way, we're
• 48:26
  Speaker 2: going to call you back. Or if you get me
• 48:29
  Speaker 2: just on a rare moment where I can answer the phone,
• 48:32
  Speaker 2: we're going to talk and I'm going to interview you.
• 48:33
  Speaker 2: You're going to interview me. I'm going to teach you
• 48:35
  Speaker 2: about the hedge fund. If you qualify, like I said,
• 48:38
  Speaker 2: we're at the 58 paper commence, which means the signs
• 48:41
  Speaker 2: are delivered, 20 on deck. We've got some openings, and
• 48:45
  Speaker 2: when it's filled, it's filled.
• 48:46
  Speaker 1: All right.
• 48:46
  Speaker 3: Phone number real quick. One more time.
• 48:48
  Speaker 2: 330-288-7709. 330-288-7709. All right. I like talking to people regardless.
• 49:00
  Speaker 3: Thank you, John.
• 49:01
  Speaker 1: Appreciate your time. That's John Arnold's Money Talk. On Thursday,
• 49:04
  Speaker 1: NewsRadio 570, Dodie Kivian and Ron Ferb. Going to be
• 49:07
  Speaker 1: off Friday, Monday, and Tuesday. Back on Wednesday, Sean Hannity.
• 49:15
  Speaker 4: From ABC News, I'm Dave Packer An urgent search and
• 49:19
  Speaker 4: rescue operation underway after two earthquakes devastated Venezuela. Venezuelan officials
• 49:24
  Speaker 4: say at least 188 people are dead, thousands more are missing.
• 49:28
  Speaker 4: ABC's Victor Akendo is in Doral, Florida, where non-profit aid
• 49:31
  Speaker 4: operations are being staged.
• 49:32
  Speaker 6: With at least 20 aftershocks reported, officials warning residents to
• 49:36
  Speaker 6: stay outdoors and away from damaged structures. U.S.
• 49:39
  Speaker 3: Secretary of State Marco Rubio.
• 49:40
  Speaker 6: Saying that the United States is immediately deploying search and
• 49:43
  Speaker 6: rescue teams, medical resources, and humanitarian assistance to Venezuela. Victor Akendo,
• 49:50
  Speaker 6: ABC News.
• 49:51
  Speaker 4: The Supreme Court handing President Trump a pair of wins today,
• 49:54
  Speaker 4: ruling that the administration can on its own end temporary
• 49:58
  Speaker 4: protected status for hundreds of thousands of migrants from Syria
• 50:01
  Speaker 4: and Haiti. Massachusetts Governor Maura Healey slamming the ruling today.
• 50:04
  Speaker 8: When they went to bed last night, they had legal
• 50:08
  Speaker 8: status in the United States of America. By ripping away
• 50:13
  Speaker 8: that status, the Supreme Court and Donald Trump are attacking
• 50:19
  Speaker 8: legal immigrants who've done everything right to be a part
• 50:22
  Speaker 8: of this country for more than a decade.
• 50:26
  Speaker 4: In the other ruling, the high court allowing the Trump
• 50:28
  Speaker 4: administration to turn away asylum seekers at the border. White
• 50:31
  Speaker 4: House Deputy Chief of Staff Stephen Miller saying America's doors
• 50:34
  Speaker 4: are closed fully to asylum seekers. A new drone attack
• 50:37
  Speaker 4: on a ship in the Strait of Hormuz. ABC's Louis
• 50:40
  Speaker 4: Martinez with the latest.
• 50:41
  Speaker 9: What we have from a U.S. official is that, yes,
• 50:43
  Speaker 9: there was an Iranian attack on a vessel. that was
• 50:46
  Speaker 9: carried out by an Iranian drone that caused some damage.
• 50:49
  Speaker 2: To the ship's bridge.
• 50:51
  Speaker 9: And of course, yes, this would be the first time
• 50:53
  Speaker 9: that we now know that there is some kind of
• 50:55
  Speaker 9: a new kind of kinetic incident involving Iran since the
• 50:59
  Speaker 9: signing of that memo of understanding just last week.
• 51:02
  Speaker 4: The attack prompted the United Nations International Maritime Organization to
• 51:06
  Speaker 4: suspend their escorts of ships through the Strait of Hormuz.
• 51:10
  Speaker 4: You're listening to ABC News.
• 51:14
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  Speaker 4: An investigation in Novi, Michigan, after one person died and
• 52:18
  Speaker 4: others were hospitalized after being treated at the Davida Dialysis Center.
• 52:22
  Speaker 4: In Smiley, Ramahama says he felt something was wrong after
• 52:26
  Speaker 4: his last treatment on Friday.
• 52:28
  Speaker 3: I tried to stand up.
• 52:30
  Speaker 7: I couldn't. So I crawled up half a flight of
• 52:33
  Speaker 7: stairs to the foyer and I called my wife to
• 52:39
  Speaker 7: please ask her to call 911.
• 52:41
  Speaker 4: In a statement, DeVitas says it's unable to comment due
• 52:44
  Speaker 4: to patient privacy. The Florida immigration facility known as Alligator
• 52:49
  Speaker 4: Alcatraz is closing after a year in existence with many complaints.
• 52:53
  Speaker 3: ABC's Chuck Sievertson. Florida Governor Ron DeSantis.
• 52:55
  Speaker 12: I don't think you would see us doing this again.
• 52:59
  Speaker 12: This was temporary. This was an emergency measure.
• 53:01
  Speaker 13: At a Thursday news conference, he said federal homeland security
• 53:04
  Speaker 13: did not have resources.
• 53:05
  Speaker 12: The funding they got last summer had not passed yet.
• 53:09
  Speaker 12: and they were in a situation where they could not
• 53:11
  Speaker 12: keep these people.
• 53:12
  Speaker 3: They didn't know what to do with them. They didn't
• 53:14
  Speaker 3: have the space.
• 53:15
  Speaker 13: Lawsuits alleged environmental violations, inhumane conditions for detainees, no working bathrooms, insects,
• 53:21
  Speaker 13: and inedible food.
• 53:24
  Speaker 4: Strong demand for computer memory and storage is turning into
• 53:27
  Speaker 4: higher prices for customers. Microsoft and Apple both announcing price
• 53:31
  Speaker 4: hikes on consumer products. Microsoft is upping Xbox prices by
• 53:35
  Speaker 4: at least $ 100, and Apple raising prices of Mac computers
• 53:39
  Speaker 4: by more than 15%. Dave Packer, ABC News.
• 53:44
  Speaker 10: Hot summer days and high energy bills are on the way.
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