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Suze and Keith's Quarterly Update · Suze Orman's Women & Money (And Everyone Smart Enough To Listen)

0:07
Suze: September 6th, 2026. Welcome everybody to the Women and Money
0:12
Suze: podcast and Everybody Smart Enough to Listen. You know, back
0:18
Suze: in June, we did a webinar, myself and Keith Fitz-Gerald,
0:22
Suze: and if you weren't there, where were you? There were
0:24
Suze: 125,000 of you there. And at that time, we said,
0:29
Suze: you know what? Maybe we'll do an update, next quarter and
0:35
Suze: guess what today is? It is the update of that webinar. Now,
0:39
Suze: if you didn't see it, forget about it. You could,
0:42
Suze: of course, go back and listen to it or watch
0:44
Suze: it on YouTube, but the truth is, let's just start
0:48
Suze: fresh today because here's the bottom line, everybody, you can
0:53
Suze: look at all the stocks and the ETFs and everything
0:55
Suze: that we talked about on that webinar and I think
0:59
Suze: all of you, if you took action on them, you
1:03
Suze: would be very, very pleased. There are some that are
1:06
Suze: up almost 38% or more. All of them have performed
1:11
Suze: exactly how they were meant to perform up, stayed stable,
1:16
Suze: whatever it may be, including IBit, gold, all of that
1:21
Suze: except for one stock, which is maybe our favorite stock, Tesla.
1:26
Suze: So we're gonna be addressing that, but first I wanna
1:30
Suze: bring on with me, Fitzy, Mr. Keith Fitz-Gerald. How are
1:35
Suze: you today, boyfriend?
1:37
Fitzy: I am doing great, sister. Thank you so much for
1:39
Fitzy: having me back as always.
1:40
Suze: Here's where I'd really like to start this, you know.
1:45
Suze: A lot's happened in these 3 months really since we
1:49
Suze: did the webinar. The market has gone up considerably. Stocks
1:55
Suze: have gone up considerably. Interest rates on bonds have gone
2:00
Suze: up considerably. So truthfully, you look at the stock market
2:05
Suze: and everything, and you're just having a great old party here. However,
2:10
Suze: if you look at the economy, you can see that
2:12
Suze: 30 year
2:13
Suze: mortgages, are you kidding me? They're at 6 and 3/4%.
2:16
Suze: They're nearing 7%. We had a jobs report on Friday
2:22
Suze: that came in higher than everybody thought, so now the
2:25
Suze: big fear is that the feds are going to continue
2:28
Suze: to raise interest rates all the way through next year.
2:33
Suze: And look at the price of homes, look at everything,
2:36
Suze: look at the price of cars. People are still struggling,
2:39
Suze: inflation is still up. So here is my very first
2:44
Suze: question for you. Do people watch the stock market? Or
2:49
Suze: should they watch the economy and what dictates what they
2:53
Suze: should do with their money, Keith?
2:56
Fitzy: Oh boy, that is like a $1 trillion question, quite literally.
2:59
Fitzy: So my advice is you watch the stock market, but
3:03
Fitzy: you watch the stock market via the great CEOs of
3:07
Fitzy: our time.
3:07
Fitzy: Because regardless of politics, regardless of the Fed, the CEOs
3:12
Fitzy: are charted with making a path through this profitably, which
3:16
Fitzy: means they've got skin in the game. Politicians don't have
3:18
Fitzy: skin in the game. The Fed doesn't have skin in
3:20
Fitzy: the game. Geopolitics doesn't have skin in the game. And finally,
3:24
Fitzy: the reason I say that is because earnings and rates
3:27
Fitzy: have a 98% correlation, which means that if one goes
3:31
Fitzy: up and the other goes down, 98% of the time,
3:33
Fitzy: sooner or later they come back into alignment, which is
3:36
Fitzy: a gift to investors.
3:37
Suze: So here I am. I have money to invest. Everybody's
3:42
Suze: scaring me. I'm like petrified. The markets are going to
3:46
Suze: go down. The economy's gonna crash. I can't afford food.
3:50
Suze: I can't afford to put gasoline in, and you're telling
3:53
Suze: me that what you would be saying to people is,
3:57
Suze: don't worry about the economy. Shortly it will come into
4:01
Suze: balance with the stock market, that the stock market is
4:05
Suze: the leading economic indicator that tells us where we are going,
4:10
Suze: and the economy kind of tells us where we are
4:13
Suze: right now. So if you wanna be where you're meant
4:15
Suze: to be months from now, you follow the stock market.
4:19
Suze: Is that correct?
4:20
Fitzy: Yes, and there's a very counterintuitive reason for that. The
4:24
Fitzy: economics gets all the headlines, right? Because it's tied to politics,
4:27
Fitzy: it's tied to the market, it's tied to the headlines,
4:29
Fitzy: to the internet. So all of that stuff screams around,
4:31
Fitzy: but it's like watching a pinball game, right?
4:33
Fitzy: But earnings are forward looking by their very definition, which
4:38
Fitzy: means that if you want to understand where the economy
4:40
Fitzy: is going, you actually watch the folks that are charged
4:43
Fitzy: with producing the money. The stuff that has created $91
4:48
Fitzy: trillion of wealth over the last 100 something years has
4:52
Fitzy: come from the folks who drive earnings.
4:54
Suze: So you're not afraid. You have all these stocks that
4:57
Suze: have been going up and up and up. Some stocks
4:59
Suze: are up considerably even since the webinar.
5:03
Suze: But considerably when we started to talk about them on
5:06
Suze: the podcast a year ago, you would tell these people,
5:11
Suze: don't panic, stay where you are. If you have money,
5:15
Suze: continue to dollar cost average, what would you tell them
5:18
Suze: to do right now?
5:20
Fitzy: Well, you've pretty much hit the nail on the head here,
5:22
Fitzy: you know, longer term, we know that again, the trajectory
5:26
Fitzy: is up. That's how innovation works.
5:28
Fitzy: Now we also know because of all the headlines and
5:31
Fitzy: social media that there's gonna be more volatility. So, as
5:35
Fitzy: tough as that is, this is where you take a
5:36
Fitzy: deep breath.
5:37
Fitzy: This is where you do continue to dollar cost in
5:40
Fitzy: because believe it or not, mathematically, that is how you
5:43
Fitzy: harness the very volatility that everybody else fears. It's like
5:47
Fitzy: going to a store, looking for your favorite product and
5:50
Fitzy: learning that it's on sale. You don't care how it
5:52
Fitzy: got on sale or why it got on sale, but
5:54
Fitzy: the fact that it is on sale when your dollar
5:57
Fitzy: cost averaging is a great thing, and over time that
6:00
Fitzy: really works in your favor.
6:01
Suze: You know though, Keith, and you and I talked about
6:04
Suze: this the other day.
6:06
Suze: In that a lot of people out there, obviously there's
6:09
Suze: a lot of you that I know you have a
6:12
Suze: whole lot of money, and then there's some of you
6:15
Suze: that you're making it, things are OK, but because prices
6:18
Suze: of gas have gone up significantly, everything has gone up significantly.
6:24
Suze: Maybe the extra $100 or $200 that you were putting
6:29
Suze: in dollar cost averaging into the ETFs or stock or
6:33
Suze: whatever you were doing.
6:34
Suze: You don't have any more money to dollar cost average,
6:40
Suze: so that when the stock market does go down, and
6:43
Suze: there are obviously periods that they go down and then
6:45
Suze: go back up, go down, go back up, you don't
6:48
Suze: have any more money to dollar cost average. What do
6:52
Suze: you tell those people?
6:54
Fitzy: Well, so there's a couple of different ways to handle that, right?
6:57
Fitzy: If you are reinvesting your dividends, maybe you can free
7:00
Fitzy: up some of that dividend income to put into stocks,
7:03
Fitzy: maybe you don't own yet. If you think you don't
7:06
Fitzy: have any money, I would respectfully push back on that
7:08
Fitzy: because you're probably doing better than you think you can.
7:10
Fitzy: It means you're playing the game correctly cause you're in
7:13
Fitzy: to win.
7:14
Fitzy: And the last thing is, you know, do you have
7:17
Fitzy: anything that you want to sell? Because if you've been
7:19
Fitzy: dollar cost averaging and you've been consistent exactly like you've
7:23
Fitzy: talked about Suze for years, then I would be willing
7:26
Fitzy: to bet that many of you listening today have probably
7:28
Fitzy: got profits sitting somewhere you didn't expect. Maybe you can
7:32
Fitzy: sell a little bit here and there. There's always a
7:34
Fitzy: way to free up cash if you really look. The
7:37
Fitzy: question and the challenge is
7:39
Fitzy: that many of us fear doing that. Many of us
7:42
Fitzy: don't think we have it, and that works against us
7:44
Fitzy: over time. This is where you want to flip that around.
7:47
Suze: You know, it's so funny, I have a friend who
7:49
Suze: I like very much, but they're being stupid with their money.
7:53
Suze: What can I tell you, that bought this one little company.
7:57
Suze: It went all the way up to $80 a share.
8:01
Suze: It's now all the way back at like $30 a share,
8:06
Suze: and they have
8:08
Suze: almost 80 to 90% of their entire portfolio in this
8:13
Suze: one stock. Oh my goodness, and I said to him,
8:17
Suze: I go, Why? And it's a lot of money. And
8:21
Suze: I'm like, why can't you just sell that?
8:26
Suze: Take some of the money and buy some of the
8:29
Suze: stocks and ETFs that we've been talking about. Why can't
8:32
Suze: you do that? And his answer to me was, no, no, Suze,
8:37
Suze: I'm hoping it's gonna go back up. A lot of people, Keith,
8:41
Suze: you know, won't let go of their losers, because they just,
8:47
Suze: they can't, they want it to go back up if
8:50
Suze: you had a significant loss on the books in a
8:54
Suze: good quality stock, maybe you bought Palantir at 210, and
8:59
Suze: here it is back at like 170.
9:03
Suze: Or you bought all these other things that when they
9:06
Suze: were really high, and now they're lower, would you tell
9:10
Suze: them to possibly sell those and take a loss and
9:15
Suze: do something with that money or just stick with it?
9:19
Fitzy: Well, again, there's sort of two ways to do it.
9:21
Fitzy: And by the way, I've, I've made that very mistake
9:23
Fitzy: as a young man coming into this market. There were
9:25
Fitzy: stocks that I held up and stocks that I held down, and,
9:28
Fitzy: you know, the question when you're investing, particularly in markets
9:30
Fitzy: like they are now when there's a lot of volatility is,
9:33
Fitzy: you know, do you have an alternative? Is there something
9:35
Fitzy: else you can buy, something you want to own? So
9:37
Fitzy: can you move out of that particular stock and distribute
9:40
Fitzy: your money a little bit into maybe an ETF. Can
9:44
Fitzy: you put it into something with dividends? Can you put
9:46
Fitzy: it into something that's more stable, something that allows you
9:48
Fitzy: to sleep at night, because hope is not an investment strategy,
9:51
Fitzy: but constantly weighing alternatives, figuring out what you can do
9:54
Fitzy: with your money, maneuvering for the win, those are all
9:57
Fitzy: things we did as kids playing dodgeball, whatever.
10:00
Fitzy: The game was we have lost that ability to think
10:02
Fitzy: like that as adults in in the market. It's really
10:05
Fitzy: critical to constantly weigh those alternatives.
10:07
Suze: I want to talk to all of you for a
10:08
Suze: second because maybe you heard me say this on the podcast,
10:12
Suze: and Keith knows I've done this. One of Keith's favorite
10:15
Suze: stocks is IONQ, and if you want to talk about
10:18
Suze: it later, you can, Keith, but I had a very
10:22
Suze: large position in it, and it happened to be in
10:25
Suze: my IRA.
10:27
Suze: Not even a Roth IRA kills you.
10:29
Fitzy: Oh my goodness, Suze, what are we gonna do with you?
10:32
Suze: Because I did this all before Roths even existed, but
10:36
Suze: that's besides the point. And then I wasn't smart enough
10:38
Suze: to convert when I could. All right, stupid, stupid, stupid,
10:43
Suze: and
10:44
Suze: it was making me nervous, everybody. I didn't feel secure. Remember,
10:50
Suze: I want you all to understand that you could hear
10:53
Suze: us talk about stocks and do this and that, but
10:55
Suze: I want you all to never forget the goal of money,
10:58
Suze: and the goal of money is for you to feel secure.
11:02
Suze: So I took a look at what I had in
11:05
Suze: this one stock.
11:07
Suze: And I decided to sell half of it. I left
11:11
Suze: the other half there, but half of it so that
11:15
Suze: I'd feel I didn't want to risk that much money.
11:18
Suze: Since then it has gone down at least 10 points.
11:22
Suze: So now I'm feeling, oh, I did great until it
11:25
Suze: goes up another 30 points, and then I'm like, why
11:27
Suze: did I do that? But what helped me, everybody, was
11:31
Suze: I then took that money and I put it in
11:34
Suze: other things that I wanted to buy in my IRA,
11:39
Suze: but I didn't have the money to do so. So
11:41
Suze: I also freed up the money in the IRA to
11:45
Suze: buy these things that might be something you can do
11:50
Suze: if you own it outside of an IRA. Remember, if
11:54
Suze: it's at a loss, you can always take it off
11:58
Suze: your taxes. However, make sure you never forget the 30
12:03
Suze: day wash rule, which is if you sell something at
12:07
Suze: a loss.
12:09
Suze: And you're going to use it as a tax loss,
12:12
Suze: you cannot buy it back for 30 days. But what
12:16
Suze: do you think about what I just said, Keith?
12:19
Fitzy: My advice to anybody listening is if you've got some
12:22
Fitzy: funny feeling like that, some reason that's making you lose
12:25
Fitzy: sleep at night, something you're uncomfortable with.
12:27
Fitzy: There's always a path to profits in today's markets because
12:30
Fitzy: there's so many wonderful companies to choose from. That's an
12:33
Fitzy: ideal chance, an opportunity to line up the next great play,
12:38
Fitzy: the next great dividend, the next great decision, and in
12:41
Fitzy: your case, Suze, for example, use that loss productively.
12:45
Suze: Right? And so, everybody, I get again that a lot
12:49
Suze: of you have money to invest. You wanna know what
12:52
Suze: to do with the money that you have. A lot
12:55
Suze: of you wish you had more, little by little, you
13:00
Suze: can always find, I don't care what your situation is,
13:03
Suze: you can always find $10 a month, $20 a month
13:08
Suze: to dollar cost average into certain things. Now, one thing
13:12
Suze: that's really important that I hope Keith and I agree
13:15
Suze: on is that if you don't have a whole lot
13:19
Suze: of money to buy a whole lot of stocks, because
13:23
Suze: a lot of you are like,
13:25
Suze: I should just buy individual stocks. I don't need an ETF.
13:29
Suze: I can just buy those individual stocks on my own.
13:32
Suze: If you're going to just buy individual stocks, let's see
13:37
Suze: if we agree on this. How many stocks, Keith, do
13:41
Suze: you think if you're not gonna do ETFs, somebody should own?
13:46
Suze: Wait, let's say it together. Let's say it together. Ready? 1-2-3: 25.
13:51
Fitzy: 25.
13:52
Suze: Were you gonna say it, really?
13:54
Fitzy: Yes. Here's why. Here's why.
13:57
Suze: 4% in each one.
14:00
Fitzy: Here's, here's why. There's, there's two things to think about, right,
14:03
Fitzy: because what we grew up with thinking about was you
14:06
Fitzy: spread your money all over willy-nilly, and that's gonna protect
14:09
Fitzy: you against losing.
14:10
Fitzy: The flip side of that is you don't tend to
14:12
Fitzy: think about winning over time, and research dating all the
14:14
Fitzy: way back to the 1960s and which my research has
14:17
Fitzy: picked up on over the last 40 years is that
14:19
Fitzy: anything beyond 20 to 25, maybe 30 stocks tops adds
14:24
Fitzy: risk but no additional return. So if you're going to
14:27
Fitzy: own stocks, you also have another advantage which is today
14:31
Fitzy: you have fractional shares, so you don't necessarily have to
14:34
Fitzy: buy an entire lot of stocks. You don't have to
14:37
Fitzy: go out and go crazy.
14:39
Fitzy: I like to buy on big down days, for example,
14:41
Fitzy: I like to buy one share at a time of
14:44
Fitzy: something that interests me, because even that small amount, 10,
14:47
Fitzy: 15 bucks sometimes, sometimes 100 bucks, sometimes a couple hundred bucks,
14:51
Fitzy: but the point is, even one share at a time,
14:54
Fitzy: if that's what you can afford over time, becomes a
14:58
Fitzy: material advantage when it comes to building wealth.
15:01
Suze: Yeah, and what's important about what Keith just said, everybody,
15:04
Suze: is that you don't need a lot of money to invest.
15:09
Suze: You don't. You do in real estate, but when it
15:12
Suze: comes to the stock market, you don't. So hopefully you're
15:17
Suze: dealing with a discount broker that offers slices.
15:21
Suze: That doesn't charge you any commission whatsoever that maybe they'll
15:25
Suze: let you buy for as little as $5 or whatever
15:28
Suze: it is that you want to do and you can
15:30
Suze: do that with exchange traded funds as well. Keith, before
15:35
Suze: we go on to exchange traded funds, I want to
15:38
Suze: stick with stocks for just a little bit.
15:41
Suze: Your number one pick right now. Last time it was what, three
15:45
Suze: months ago? What was your number one pick?
15:47
Fitzy: Well, we talked about Palantir, Microsoft, and Apple in particular.
15:51
Suze: All right, so those three, all right.
15:53
Suze: What's your number one pick right now?
15:56
Fitzy: Without a doubt, without reservation, and it's gonna be a
16:00
Fitzy: tough stock to own going forward.
16:02
Fitzy: Tesla.
16:03
Suze: Why is it going to be a tough stock to
16:05
Suze: own going forward?
16:06
Fitzy: Because he's got a controversial leader. It's changing our world
16:11
Fitzy: in ways that we are not entirely prepared for. It's
16:13
Fitzy: gonna change our legal system. It's gonna change how we
16:15
Fitzy: interact with each other, how we get around, how we
16:18
Fitzy: get in space.
16:19
Fitzy: There are any number of things that Tesla is doing,
16:22
Fitzy: all of which are potentially $1 trillion businesses all by
16:26
Fitzy: themselves that the market doesn't recognize. And you know, this
16:30
Fitzy: past Friday, it got shellacked. People are saying, you know, officially, oh,
16:34
Fitzy: the market was underwhelmed by Cybercab. They completely missed the point.
16:39
Fitzy: It doesn't matter.
16:40
Suze: Tell everybody what Cybercab is in case they don't know.
16:42
Fitzy: Sure, sure. OK, I'm sorry. I get so excited about
16:44
Fitzy: this stuff. So, so Cybercab is this gold thing that
16:48
Fitzy: you're seeing all over the news with these butterfly doors.
16:51
Fitzy: It has no pedals and no steering wheel. It's completely
16:54
Fitzy: autonomous robot vehicle designed for the mass market as taxis
16:59
Fitzy: and transportation.
17:00
Fitzy: So it's really not a car, it's a mobility computer,
17:04
Fitzy: a mobility robot, but the thing that people are missing
17:08
Fitzy: is in order to make that thing work, you gotta
17:11
Fitzy: have data, you gotta have AI, you gotta have Grok,
17:15
Fitzy: you gotta have money, you gotta have geolocation, you gotta
17:18
Fitzy: have about a dozen other things that make that work,
17:22
Fitzy: all of which are totally undervalued by the market right now.
17:26
Fitzy: And so I think Tesla, the fact that it got
17:28
Fitzy: shellacked on Friday, it's pretty darn attractive to me.
17:32
Suze: Well, you know, it actually got kind of shellacked, as
17:35
Suze: you would say, right, from when we had our webinar
17:38
Suze: three months ago. It's the only stock, truthfully, or ETF
17:43
Suze: that is down significantly, 8%. In fact, that's down at all.
17:47
Suze: Everything else is either even or up significantly. So why
17:52
Suze: do you think, is it just because people don't like him?
17:56
Suze: They don't understand him. What do you think is going
17:59
Suze: on that you like the stock as your new number
18:04
Suze: one pick and you probably like it because it's gone
18:06
Suze: down so much? Why would you not be buying it here, correct?
18:11
Fitzy: Well, that's really the logic right there, you know. Everybody
18:14
Fitzy: says all these things could go wrong, and I hear
18:16
Fitzy: constantly investors saying, well, this could happen, this could happen,
18:18
Fitzy: this could happen. The question that successful investors ask is
18:22
Fitzy: what happens if all this goes right?
18:25
Fitzy: And then they focus on how do I invest in that.
18:27
Fitzy: So if I've already decided that this stock is something
18:30
Fitzy: that potentially is going to change the world, that is
18:33
Fitzy: potentially undervalued, that has potentially gotten many of the attributes
18:37
Fitzy: that I want.
18:38
Fitzy: Then the question becomes how do I buy it, so
18:40
Fitzy: I continue to dollar cost average into it. When it drops,
18:43
Fitzy: I'm happy as a clam because longer term that's a
18:47
Fitzy: gift to me. That's not a risk or a worry,
18:49
Fitzy: and I grit my teeth. I hold my nose. I
18:52
Fitzy: don't like any of it when it drops, but I
18:54
Fitzy: know that years from now when this thing has
18:58
Fitzy: double, tripled, quadrupled as great companies in the past have,
19:02
Fitzy: and not just Tesla either. Great companies have gone through
19:05
Fitzy: challenging periods. Apple's almost been bankrupt three times, but that
19:09
Fitzy: didn't stop me from buying it. So, I would encourage
19:12
Fitzy: investors who look at a stock like that. If you
19:15
Fitzy: come to the same conclusions I do, controversial, undervalued, great
19:20
Fitzy: technology that is changing our world, it's worth a look
19:23
Fitzy: because longer term.
19:25
Fitzy: We haven't even begun this race.
19:27
Suze: So Tesla... SpaceX, Tesla... SpaceX, which was interests you more?
19:33
Fitzy: Well, I actually own both for very similar reasons, you know,
19:36
Fitzy: and today, Tesla gets the edge, but SpaceX is another
19:40
Fitzy: one of these things, right? Super controversial. Everybody, you know,
19:44
Fitzy: wants to challenge all the things that can go wrong,
19:46
Fitzy: but if it gets this right,
19:49
Fitzy: We're talking about the most vertically integrated company in human history.
19:54
Fitzy: We have never seen anything like this. There is literally
19:58
Fitzy: not another company on the planet that can compete at scale,
20:02
Fitzy: and the words at scale are really what everybody should
20:05
Fitzy: think about watching because it's nice if you're talking about
20:08
Fitzy: a Nike or you're talking about, you know, some other stock,
20:12
Fitzy: a Peloton, whatever. OK, they could run.
20:14
Fitzy: But what are you gonna do? You're gonna sell a
20:15
Fitzy: bicycle or you're gonna sell a pair of shoes once.
20:19
Fitzy: But with SpaceX, you're talking about billions of subscribers and
20:23
Fitzy: billions of bits of data. You're talking about things that
20:26
Fitzy: you can add to at a scale that has been
20:30
Fitzy: previously unimaginable, and I don't think the market values that
20:32
Fitzy: accurately yet.
20:34
Suze: And so everybody's fear of this AI being in a bubble,
20:39
Suze: everything's going to pop. They're borrowing too much money, the
20:42
Suze: data centers are ruining the whole world, all of that.
20:47
Suze: Does that bother you at all?
20:50
Fitzy: Well, you know, I'd be lying if I said it
20:52
Fitzy: didn't bother me somewhat, right? You know, I mean, it,
20:55
Fitzy: I'm human too. I feel it. I'm a father. I'm
20:57
Fitzy: a husband. I, you know, I, I, I worry, you know,
20:59
Fitzy: what does the world look like that I'm bringing my
21:01
Fitzy: children into? But does it bother me from an investing standpoint? No,
21:05
Fitzy: because this is very different today than it was back
21:09
Fitzy: in the dot com era, for example. You know, we
21:12
Fitzy: had businesses with no revenue, no customers, no whatever, and
21:15
Fitzy: they were spending gobs of money on, on just phantom code.
21:19
Fitzy: There was nothing there. These businesses today, real revenue, real
21:23
Fitzy: potential that we've never ever seen before. This is not
21:25
Fitzy: phantom currency, and the reason they're spending so much money
21:29
Fitzy: right now,
21:30
Fitzy: is because this is for all the marbles. I'd be worried, Suze,
21:35
Fitzy: if Nvidia was making chips that weren't getting sold. I'd
21:39
Fitzy: be worried if companies were saying, hey, we got enough AI,
21:42
Fitzy: we don't need that, and we have to cut some bargains,
21:45
Fitzy: you know, but what I'm seeing is triple digit growth
21:47
Fitzy: from consumers. I'm seeing triple digit usage growth from companies.
21:51
Fitzy: I'm seeing triple digit production from the folks making the infrastructure.
21:55
Fitzy: So all of that is a reason to spend money
21:59
Fitzy: because what happens next,
22:02
Fitzy: they don't have to manufacture it again. The chips are
22:05
Fitzy: already out there. They can change a line of code
22:07
Fitzy: and make a billion dollars using all of this stuff. Now,
22:11
Fitzy: data centers, that's the one that legitimately does bug me.
22:15
Fitzy: We say, OK, is it destroying the planet? Is it
22:17
Fitzy: worrying it's building the country, tearing up farmland, you know,
22:20
Fitzy: are the Chinese involved? Are they spending too much money?
22:23
Fitzy: I mean, there's a dozen different concerns there, right? But
22:26
Fitzy: the other thing, again, what if they get it right?
22:29
Fitzy: What if the AI that they're building and the data
22:32
Fitzy: centers they're building helps solve cancer, helps solve medicine, helps
22:35
Fitzy: solve humanity's biggest problems, and I think we're going in
22:38
Fitzy: that direction.
22:39
Suze: And are you worried at all about AI displacing people's jobs?
22:45
Fitzy: I worry not necessarily AI displacing jobs, and the reason
22:49
Fitzy: I tell you I'm not worried is if we look
22:50
Fitzy: at agriculture in this country in the 1890s, early 1900s,
22:54
Fitzy: we had 80, 90, 95% of the people in this
22:57
Fitzy: country around the world really involved in some form of agriculture.
23:01
Fitzy: A little more than a century later, only three, maybe
23:04
Fitzy: two out of that original 100 people would still be
23:06
Fitzy: in agriculture. I'm not worried about AI itself. I think
23:10
Fitzy: people who are going to lose their jobs are people
23:12
Fitzy: who do not take the time to learn how to
23:14
Fitzy: use AI effectively. AI itself is not going to kick
23:17
Fitzy: people out of their nest because we're gonna have jobs
23:20
Fitzy: and we're gonna have job functions that we don't even
23:23
Fitzy: know exist yet. So I'm, I'm very optimistic that we
23:26
Fitzy: are going to get this solved. We're gonna do it right.
23:29
Fitzy: The transition in the middle.
23:31
Fitzy: Is gonna be the tough part because there's a lot
23:33
Fitzy: we don't know.
23:34
Suze: Again, sticking on stocks briefly, give me, besides Tesla, what
23:38
Suze: do you think about Meta?
23:40
Fitzy: Meta is a stock that I struggle with. I love
23:42
Fitzy: to hate that stock.
23:43
Fitzy: I think that the train wreck that is the C-level suite,
23:47
Fitzy: meaning all the senior executives have betrayed the American public.
23:51
Fitzy: I think they've done a tremendous amount of damage worldwide
23:54
Fitzy: in terms of predatory behavior, engineering addiction, preying on children, marketing,
24:00
Fitzy: improper use of funding.
24:02
Suze: So would you buy, sell, what would you do?
24:04
Fitzy: We had a small position in Meta, and I actually
24:07
Fitzy: sold out of all of it. I don't want anything
24:09
Fitzy: to do with the company. I don't care how much
24:11
Fitzy: money it's going to make because the company just settled
24:14
Fitzy: for billions of dollars which effectively bought their privacy at
24:18
Fitzy: the expense of the investing consumer. That doesn't sit well with me.
24:22
Suze: You would not be touching that with a 10 foot pole,
24:25
Suze: you know, last time at a loss, at a loss,
24:28
Suze: but last time we also named all these ETFs that
24:32
Suze: were doing very well for dividends and things like that.
24:35
Suze: But you said one of the areas when it comes
24:39
Suze: to
24:40
Suze: real estate because I made this comment and I'm still
24:42
Suze: sticking by it, everybody, because especially when the feds raise rates,
24:48
Suze: you see the 10-year Treasury go up, 30-year Treasury higher
24:51
Suze: than it's been in a long time, mortgage rates go up,
24:54
Suze: so you see them at 6 375, close to 7%.
24:57
Suze: I just don't like real estate right now, individual homes
25:01
Suze: that you can buy as an investment. You want to
25:04
Suze: buy a home, call it your own, and you can
25:07
Suze: afford it, OK.
25:08
Suze: But not as investments and we talked about REITs, real
25:12
Suze: estate Investment Trusts. Our one of our favorites is Care
25:16
Suze: Trust nursing homes doing fabulous, but you came up with,
25:21
Suze: you think people should be doing REITs in public storage.
25:25
Suze: When I asked you, you said, I don't know. I haven't
25:29
Suze: done my research yet, and I'll come back to you
25:31
Suze: on that. Now's your chance. Come back to me. What's
25:35
Suze: your favorite public storage REIT that you wouldn't have a
25:40
Suze: problem with people starting to dollar cost average into right now?
25:44
Fitzy: Drum roll, please. My personal choice right now is extra
25:51
Fitzy: space storage and the ticker is EXR.
25:55
Suze: And what is the dividend that it's currently paying?
25:58
Fitzy: They are paying 4.65% right now, so that's a nice, healthy,
26:03
Fitzy: comparatively stable dividend with a lot of room in it.
26:06
Fitzy: I like the way the management works. I like the
26:08
Fitzy: fact that it's 93% average occupancy.
26:11
Fitzy: They've got a great markets, I think a niche strategy,
26:14
Fitzy: and that put it over the top for us because
26:16
Fitzy: what we liked about it was that stability at a
26:19
Fitzy: time where seemingly everything else in the real estate market
26:22
Fitzy: is darn unstable.
26:23
Suze: All right, let's move on because we actually only have
26:26
Suze: a few minutes left, believe it or not, and I
26:30
Suze: want us to address the ETF FITZ because I get
26:39
Suze: a lot of emails about it. People got in three
26:42
Suze: months ago when it first came out thinking it was
26:45
Suze: gonna go straight up, even though we all said that's
26:48
Suze: not what you do it and how you do it.
26:51
Suze: Explain to them what's happening with Fits, what it's gone through.
26:56
Suze: And how you feel about it and where you think
26:59
Suze: it's gonna go. Tell me and everybody what they need
27:04
Suze: to know about FITZ.
27:06
Fitzy: Well, first of all, to everybody that has stepped in,
27:08
Fitzy: thank you very much. We're thrilled with the reception that
27:10
Fitzy: it's getting. I am pleased as punch by the way
27:13
Fitzy: this thing is performing right now, which is exactly as designed.
27:17
Fitzy: So we've got a little extra volatility, but we have
27:20
Fitzy: importantly some very strong what's called upside capture, which means
27:24
Fitzy: in plain English, on days where the markets are really running,
27:28
Fitzy: this is designed to run harder, faster, farther.
27:31
Fitzy: And so we've had less than 90 days in, we
27:34
Fitzy: haven't had any income, no distribution, so it's easy to
27:37
Fitzy: look and say this thing's, you know, not performed, not
27:40
Fitzy: gone anywhere, but what we designed was a long term product.
27:43
Fitzy: So a 90 day window, you know what, where it's
27:45
Fitzy: performing as expected, where it's settling down where these great
27:48
Fitzy: companies are doing what's called bedding in.
27:51
Fitzy: I'm very happy. I love what I'm seeing.
27:53
Suze: And right now when I look at it, it doesn't
27:57
Suze: show that it pays a dividend at all. When I
27:59
Suze: look at VOO or I look at SPY, which are
28:02
Suze: the Standard and Poor's 500 index ETFs, I see that
28:05
Suze: it pays a little dividend. Is FITZ ever going to
28:09
Suze: pay a dividend?
28:10
Fitzy: Oh. Yes, it is. This is an important point because
28:13
Fitzy: we're so new with this one that we haven't gone
28:16
Fitzy: through an income slash distribution cycle. So FITZ owns a
28:20
Fitzy: number of companies. The blended yield is about 1.43 or
28:24
Fitzy: so right now. Today. Last time I looked, the S&P
28:27
Fitzy: 500 is somewhere in the 0.99% range.
28:30
Fitzy: So when this pays a distribution, which is scheduled for
28:33
Fitzy: quarterly because we haven't been through a full quarter yet, uh,
28:36
Fitzy: that's when you're gonna start to see that mount. That's
28:38
Fitzy: when the numbers are going to pick up the fact
28:40
Fitzy: that there is a distribution on this one and if,
28:43
Fitzy: if we're again, if we're doing our jobs correctly, that's
28:45
Fitzy: gonna grow over time it's gonna grow faster, farther, harder
28:49
Fitzy: than the broad dividends that are the entire S&P 500.
28:53
Suze: So I think everybody, here's the main thing you need
28:56
Suze: to know about FITZ. If it's just sitting there, not
28:59
Suze: doing anything, you're not liking it, you're mad at it,
29:03
Suze: sell it, OK? Sell it because you were never supposed
29:07
Suze: to buy it for it to move quickly, right? Fitz
29:13
Suze: would always tell me, Keith would always say, Suze,
29:15
Suze: if you're gonna put money in this, you have to
29:18
Suze: know you're looking at five to 10 years down the road,
29:22
Suze: and then you will be thrilled that you did. But
29:25
Suze: what's very difficult for all of us is when you
29:28
Suze: see other stocks moving or other ETFs like, you know,
29:31
Suze: I love SMH or XBI
29:34
Suze: and they've been moving big time. When you see them
29:37
Suze: moving and then you have an ETF that doesn't move
29:41
Suze: really much up or down, you get frustrated. So I
29:45
Suze: want all of you to really ask yourself, why did
29:50
Suze: you buy it? What did you expect from it, and
29:55
Suze: how long did you intend to keep it? And Fitz,
29:59
Suze: what would you say to them?
30:01
Fitzy: Well, I think that's the key right there, you know,
30:04
Fitzy: if you're willing to judge what's intended to be a 5, 7,
30:07
Fitzy: or 10 year product based on less than 90 days
30:10
Fitzy: of history, this isn't for you. Don't buy fits. In fact,
30:13
Fitzy: sell it and go the other direction. I wish you
30:15
Fitzy: all the success in the world.
30:16
Fitzy: But if you understand the long term proposition that we're
30:19
Fitzy: talking about, the growth rates we're talking about, the way
30:22
Fitzy: the world is going, and why these 30 companies, which
30:26
Fitzy: we believe are absolutely the best, most successful companies in
30:30
Fitzy: the world, and you understand this whole earnings thing we
30:33
Fitzy: talked about a little while ago, then I would submit
30:36
Fitzy: you're in the right place at the right time, and
30:38
Fitzy: that's worth staying, worth hanging around. I personally am gonna
30:41
Fitzy: be hanging around for a long time.
30:42
Suze: Remember, the goal of money is for you to feel secure.
30:45
Suze: If you're not liking it, if you're questioning it, if
30:48
Suze: it's not something that you want, sell it. It is
30:52
Suze: really just that simple for those of you who understand it,
30:57
Suze: continue to come with it and stay with it, but
31:00
Suze: you have to invest in a way that feels good
31:03
Suze: for you, just so you know. So I know a
31:08
Suze: lot of you write me and you go, what's up? Well,
31:10
Suze: what's up is enough time hasn't passed.
31:13
Suze: But if enough time has passed for you, you're the ones,
31:17
Suze: it's your money. You have to make the decisions about it.
31:22
Suze: Before I bring this to the end, I just want
31:24
Suze: to say to everybody, which is,
31:28
Suze: both Keith and I think that it is very probable
31:31
Suze: that even though these markets might have a down month
31:34
Suze: here in September, who knows, whatever, over the long run,
31:38
Suze: their trajectory is up and up.
31:42
Suze: Invested in the right stocks, especially AI, ETFs, semis, all
31:48
Suze: of that medical, medical, yes, XBI. I love that medical.
31:53
Suze: It's a biotechnology ETF that I've loved forever. If you're
31:58
Suze: invested properly, diversified, and you have at least 5 to
32:03
Suze: 10 years till you need this money, if you have
32:06
Suze: a little extra money and you can continue to dollar
32:10
Suze: cost average in things that are
32:12
Suze: good quality and the things that you want as you're
32:15
Suze: getting older if you can just simply take extra money
32:18
Suze: and if you still have a mortgage and you're gonna
32:21
Suze: stay in your home forever, pay down that mortgage by
32:24
Suze: the time you are retired, get out of credit card debt,
32:28
Suze: make sure that you are investing wisely for your own
32:32
Suze: personal situation. Keith and I will always be here for
32:37
Suze: you in many different ways, but anything else that you
32:40
Suze: wanna say.
32:42
Fitzy: No, constantly focus on the opportunity because if you feel
32:45
Fitzy: good about where you're going, the rest of it's gonna
32:48
Fitzy: fall into place. Investing becomes interesting and fun and engaging
32:53
Fitzy: because you're worried about moving forward instead of worried about
32:56
Fitzy: falling behind, and that means a very different shift in mindset.
32:59
Fitzy: That's how you build real wealth.
33:00
Suze: Well, there you go. So, from me to all of you,
33:04
Suze: there's always only one thing that I want you to
33:06
Suze: remember when it comes to your money,
33:08
Suze: and it is this people first, then money, then things,
33:12
Suze: and what that means is you have to like what
33:15
Suze: you're doing. You people have to know what you are
33:20
Suze: doing and don't do something that makes you feel insecure.
33:25
Suze: So that wraps up our quarterly update.
33:29
Suze: We'll have one more for you before the end of
33:31
Suze: the year. Fitz, anything you wanna say before we sign off?
33:34
Fitzy: No, thank you so much. Everybody have a lovely day.
33:38
Suze: All right, everybody, bye bye.