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The Greatest Financial Lesson of Life · Suze Orman's Women & Money (And Everyone Smart Enough To Listen)

• 0:08
  Suze: November 9th, 2025. Welcome everybody to the Women and Money podcast,
• 0:13
  Suze: as well as everybody smart enough to listen. Now, before
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  Suze: we begin, I just want to say, I have a
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  Suze: special guest coming up in this podcast, so you best
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  Suze: stay tuned to find out who it is and what
• 0:32
  Suze: they have to tell you.
• 0:35
  Suze: So today's Suze School is about the lessons of life.
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  Suze: Because you all have to look at what's been happening
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  Suze: for approximately the last 40 days. Now, maybe it's not
• 0:51
  Suze: happening to you.
• 0:52
  Suze: But it is absolutely happening to people.
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  Suze: And when something happens to people, you have to look
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  Suze: at what's possible is happening to people, and could it
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  Suze: ever happen to you, and what am I talking about?
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  Suze: The lessons of life that you think everything is going
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  Suze: along great you have a solid job you have a
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  Suze: paycheck coming in. You own a home.
• 1:22
  Suze: You finally reached the American dream of owning a home.
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  Suze: You have a car that probably you've leased cause you
• 1:29
  Suze: don't listen to the Women and Money podcast.
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  Suze: Maybe you're putting some money away in your retirement account,
• 1:37
  Suze: but really, you're counting on that paycheck every single week,
• 1:42
  Suze: every single bi-week, or every single month.
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  Suze: And you really believe because you have money coming in
• 1:51
  Suze: to pay the bills, even though maybe you have a
• 1:54
  Suze: little bit of credit card debt,
• 1:56
  Suze: that you are just fine and you can keep going
• 2:00
  Suze: just like that until...
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  Suze: Until something happens such as the federal government shuts down,
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  Suze: and now you don't have a job currently, or you
• 2:13
  Suze: have to go to your job, but you're not getting
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  Suze: paid for it.
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  Suze: And that means millions of people that are counting on
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  Suze: you to go to your job, so that they can
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  Suze: get an airplane ride to go where they want to go -
• 2:29
  Suze: is getting harder and harder. So what's happening to people
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  Suze: that worked for the federal government, is starting to affect
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  Suze: every single one of you and then there's those of
• 2:42
  Suze: you who don't have the ability to get stamps. Some
• 2:47
  Suze: people still call them food stamps. It's part of the
• 2:50
  Suze: SNAP program, but to get food to feed your family.
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  Suze: And now you don't know what to do, and then
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  Suze: all of a sudden you find yourself having to go
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  Suze: to a food bank, even if you've had a great job.
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  Suze: You're standing in line at a food bank.
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  Suze: And once again, we go back to the lessons of life,
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  Suze: and what is the greatest lesson of life when it
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  Suze: comes to your money, if you ask me.
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  Suze: It's to plan for the what ifs of life.
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  Suze: To plan today so that your tomorrow is always protected,
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  Suze: and what is the greatest way you can protect yourself
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  Suze: by that very simple eight to 12 month
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  Suze: emergency fund.
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  Suze: But that's something like that. But Suze, I'll get to it.
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  Suze: I first want to buy a house. I want to
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  Suze: use my emergency fund for a down payment on a house. Oh, Suze,
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  Suze: you know what.
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  Suze: I really just want to redecorate this or take my
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  Suze: family on vacation, or all the priorities that you always
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  Suze: put ahead of you having your emergency fund, and then
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  Suze: you ask me.
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  Suze: Well, it's such a waste keeping that much money in
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  Suze: a savings account or a money market fund. Don't you
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  Suze: think I should invest it? And I'm like, no, you
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  Suze: can't invest it. That's money that you need in case
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  Suze: you can't pay your bills that must be paid. And
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  Suze: then you don't listen to me. And then I get
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  Suze: emails this week saying:
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  Suze: Suze, I didn't listen to you. I put my emergency
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  Suze: fund in the stocks that you loved. I figured if
• 4:43
  Suze: you loved them they had to go straight up.
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  Suze: And I'm like, oh my God, which one did you do?
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  Suze: And then I keep reading, and he goes, well, I
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  Suze: decided to do all of it in Palantir, and just
• 4:54
  Suze: so all of you know, by the way, everybody, Palantir
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  Suze: went from $203 a share down to about $169 a
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  Suze: share in a day or two, and that's what he
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  Suze: put all of his money into? OK. And guess what?
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  Suze: He was one of the ones who needed his emergency fund,
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  Suze: his must pay account.
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  Suze: Because guess what? He was a fed worker and he
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  Suze: lost his job.
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  Suze: So the lessons of life.
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  Suze: The lessons of life are investing in the known versus
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  Suze: the unknown. What is the unknown? The unknown is, you
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  Suze: don't know. Are you going to be in a car accident?
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  Suze: Are you going to be told one day that you
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  Suze: have a tumor in your neck, and who knows if
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  Suze: you'll be able to even walk like I was told
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  Suze: a few years ago.
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  Suze: All kinds of things can happen, and yet you never
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  Suze: believe that it's going to happen to you. And when
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  Suze: you don't believe that it's going to happen to you,
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  Suze: chances are that's exactly when it is going to happen
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  Suze: to you.
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  Suze: Because I've said so many times, money is the most
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  Suze: important teacher of life. It will teach you more about
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  Suze: yourself than anything you can learn in school, in a university,
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  Suze: at work, in books. It will teach you how strong
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  Suze: you are or how weak you are or how much
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  Suze: you really want to survive, how much you really want
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  Suze: to provide for your family.
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  Suze: It will teach you about your mistakes that you made,
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  Suze: as you look at your credit card statements, going, why
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  Suze: did I buy that? Why did I do that? And
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  Suze: now I'm standing here in a food line.
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  Suze: It will teach you if you let it.
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  Suze: Because again you and your money are one.
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  Suze: So, if you don't have any money right now, you're
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  Suze: one of those people who are living at this point,
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  Suze: paycheck to paycheck.
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  Suze: What it's teaching you is that you haven't protected your
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  Suze: tomorrows today when lessons of life come your way.
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  Suze: So, I've asked you, sometimes I've begged you. Now I'm
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  Suze: seriously going to beg you.
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  Suze: That I don't care how much you want to go
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  Suze: on a vacation or you want a massage or you
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  Suze: want to do your nails every week or whatever it
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  Suze: may be, you have got to make your number one priority. -
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  Suze: forget the stocks forget whatever - you have got to
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  Suze: make it your number one priority to have an eight
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  Suze: to 12 month emergency fund.
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  Suze: You should call it your must pay fund, cause the
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  Suze: money in there are for the bills you must pay
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  Suze: month in and month out.
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  Suze: When you get an email from somebody that says, Suze,
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  Suze: I've been told that if I don't pay my rent
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  Suze: next week I'm going to be evicted. Can you help
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  Suze: me with anything to think about what I can do?
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  Suze: What do you tell somebody like that? Can you just
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  Suze: try to put yourself for a second in my place?
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  Suze: A woman who has spent 40 years of her life
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  Suze: trying to make sure that every single one of you
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  Suze: is protected, that every single one of you is getting
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  Suze: the absolute best advice so that you can make your money,
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  Suze: make more money, so that you can take care of
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  Suze: yourself if something like this happens when 2008 came along,
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  Suze: millions of you were able to make it through because
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  Suze: you listened. You took it to heart.
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  Suze: And so many more millions of you went, no, no,
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  Suze: that's all right, it'll never happen to me. I'll never
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  Suze: be in that situation. I'll always be able to work
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  Suze: and get a paycheck.
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  Suze: But the lessons of life.
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  Suze: I want you right now to take a vow.
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  Suze: To take a vow that you will no longer be
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  Suze: so naive to think nothing can ever happen to you,
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  Suze: that you don't have to plan, you don't have to go, well,
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  Suze: what if you know what would happen.
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  Suze: If what if came about, so I want you all
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  Suze: to take out a piece of paper and pencil. Oh,
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  Suze: you can use a pen if you want. Go on.
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  Suze: And I want you to write down everything that you're
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  Suze: vulnerable when it comes to your money. If you lost
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  Suze: your job or you were in an accident or you
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  Suze: got ill or something happened to you, how long could
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  Suze: you go and pay your must pay bills? Do you
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  Suze: have at least eight to 12 months in a must
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  Suze: pay account so that you would be OK?
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  Suze: Answer that question honestly, and if the answer to that
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  Suze: is yes, great, but if you answer that question... one
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  Suze: month or two months, then what are you waiting for
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  Suze: and I know, I know.
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  Suze: You're all saying, Suze, I can't afford to save any
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  Suze: money right now. I can't do it because if I do,
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  Suze: I can't even really pay my bills. Everything I'm making,
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  Suze: I use to pay my bills. Here's the question at
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  Suze: hand then and answer this What happens when you no
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  Suze: longer have a paycheck coming in? How are you going
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  Suze: to pay those exact same bills?
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  Suze: And whether or not it's because of a shutdown or
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  Suze: you've lost your job or you were injured, what if
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  Suze: now you're retired?
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  Suze: And all of a sudden you don't have a paycheck
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  Suze: coming in, but you never bothered to save, you never
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  Suze: bothered to put money in a Roth IRA or a
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  Suze: Roth retirement account because you were using every penny you
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  Suze: had to pay your bills.
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  Suze: Then you'll say, well, what do you want me to do, Suze?
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  Suze: Then get another job or cut down on your expenses.
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  Suze: You have to possibly then earn more and save more.
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  Suze: Or you have to earn more and spend less.
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  Suze: So even if it were just where you were able
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  Suze: to find $100 a month, well, great, then take advantage
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  Suze: of the Ultimate Opportunity Savings Account with the Alliant Credit Union.
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  Suze: You put $100 a month in, they give you 3.10% interest.
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  Suze: You do that every month for 12 months, they give
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  Suze: you $100. That's like a 16% return on your money,
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  Suze: and you might not think that's a lot, but it's
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  Suze: a whole lot when you don't have anything.
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  Suze: Which is why I created that account. It was to
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  Suze: help all of you where every single penny mattered.
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  Suze: And hey, you can't leave it in there. Don't, I
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  Suze: don't care. Now, this is not an ad for you
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  Suze: to do that, but it's a possibility where you maybe
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  Suze: could start.
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  Suze: So all right.
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  Suze: The lessons of life. Please just think about it, everybody.
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  Suze: Think about it. Look at what you wrote down. Look
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  Suze: at the excuses for why you feel like you can't
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  Suze: do it.
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  Suze: And then understand in life, there is not an excuse
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  Suze: strong enough to keep you from being who you are
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  Suze: meant to be, so stop making excuses, all right.
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  Suze: Now, in the last half of this podcast, we need
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  Suze: to address what is going on in the stock market,
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  Suze: because I am sure many of you are, my God,
• 13:21
  Suze: look at Palantir, look at IONQ, look at these stocks,
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  Suze: look at what's happening. Why is it happening? What should
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  Suze: I do? So,
• 13:31
  Suze: to that end, I thought you might enjoy
• 13:35
  Suze: if somebody who most of you listen to now, Keith Fitz-Gerald -
• 13:40
  Suze: you know Keith - joins us. That's right, I'm gonna in
• 13:45
  Suze: a second invite Keith onto this podcast, but for those
• 13:50
  Suze: of you who don't know Keith, this is what I
• 13:53
  Suze: want to say.
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  Suze: For 40 years Keith has been absolutely at the forefront
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  Suze: of investing.
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  Suze: Working for the major companies. Working everywhere now. If you
• 14:08
  Suze: ever turn on any channel on TV, oh, you will
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  Suze: see him every single morning telling people what they should buy,
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  Suze: what he thinks is going to happen. He writes the
• 14:18
  Suze: Five with Fitz, which is absolutely free, which so many
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  Suze: of you listen to. I could go on and on
• 14:26
  Suze: about Keith's resume.
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  Suze: But here's what I really want to say.
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  Suze: I love listening to Keith. I love talking to him,
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  Suze: and we talk almost every single day. Now. I don't
• 14:40
  Suze: always agree with him.
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  Suze: I don't always feel like, no, I'm not buying Tesla.
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  Suze: I don't care what Keith says. I'm not doing it.
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  Suze: But overall I do not know one person who is
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  Suze: a more astute and brighter not only investor but somebody
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  Suze: who really understands how Wall Street works in a way
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  Suze: that really none of us have the ability to do
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  Suze: so because we never worked in the places and know
• 15:14
  Suze: the people that he knows. So are you all ready?
• 15:19
  Suze: Welcome Keith to the Women and Money podcast. Good morning.
• 15:23
  Suze: How are you doing today?
• 15:25
  Keith Fitz-Gerald: Good morning, I'm doing great. Thank you so much for
• 15:26
  Keith Fitz-Gerald: having me. We're out here on the west coast. It's cold.
• 15:28
  Keith Fitz-Gerald: It's wintry, but you're obviously bright and sunny...
• 15:31
  Suze: Kinda, kinda, and all, everybody, just so you know, I
• 15:35
  Suze: like to call Keith "Fritzy."
• 15:39
  Suze: That's my nickname for him, "Fritzy." So Fritzy, I have
• 15:44
  Suze: a question for you, and I'm sure many of the
• 15:48
  Suze: listeners are just freaked given what happened in the last week.
• 15:53
  Suze: Are the markets going up? Are they going down? And
• 15:56
  Suze: what is happening to our absolute favorite stock of all time?
• 16:02
  Suze: And all of you know.
• 16:04
  Suze: We have been talking about Palantir forever. It went as
• 16:09
  Suze: high as 200 something, like, what was it, 203, 204,
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  Suze: right in there, all the way down.
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  Suze: In a matter of a day or two after it
• 16:20
  Suze: announced record earnings, everybody, which usually causes a stock to
• 16:25
  Suze: go up, it went down all the way at one
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  Suze: point to 169. So then you write me and you say, Suze,
• 16:34
  Suze: what's happening? Should I sell? Oh my God. So given
• 16:38
  Suze: that it was Keith who recommended Palantir at 7.
• 16:45
  Suze: Many of you have tremendous profits in it still. Should
• 16:48
  Suze: you keep it? Should you save it? Should you buy more?
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  Suze: And the real question is to you, Keith, why did
• 16:55
  Suze: this happen? Go for it, boyfriend.
• 16:58
  Keith Fitz-Gerald: All right, so everybody hang with me, grab a stiff
• 17:02
  Keith Fitz-Gerald: drink or a fresh lemonade, whatever you need, because it
• 17:04
  Keith Fitz-Gerald: gets a little technical.
• 17:06
  Suze: Keith, my people do not drink.
• 17:09
  Keith Fitz-Gerald: OK. Well, good. Well, let's grab some lemonade and some punch.
• 17:12
  Keith Fitz-Gerald: Because...
• 17:12
  Suze: Maybe they do. I just don't think they drink this
• 17:15
  Suze: early in the morning, but I don't know if Hoda
• 17:17
  Suze: can drink this early in the morning on TV. I
• 17:19
  Suze: guess they can too as well. But anyway, that's OK.
• 17:21
  Suze: Go on.
• 17:23
  Keith Fitz-Gerald: OK, so one of the things that people don't understand,
• 17:25
  Keith Fitz-Gerald: we all talk about investing like this, just the specific stocks,
• 17:29
  Keith Fitz-Gerald: but behind the scenes, Susie, as you know, there is
• 17:32
  Keith Fitz-Gerald: this massive orchestrated structure that is combined with big money traders,
• 17:38
  Keith Fitz-Gerald: fast money traders.
• 17:39
  Keith Fitz-Gerald: The slow investing guys, the regulators, the leverage bankers, and
• 17:43
  Keith Fitz-Gerald: so on, right? It's like watching an episode of The
• 17:46
  Keith Fitz-Gerald: Little Rascals back in the day. You don't know what
• 17:48
  Keith Fitz-Gerald: Spanky's up to any more than you know what the
• 17:50
  Keith Fitz-Gerald: rest of the gang's doing, right? They're just gonna go
• 17:53
  Keith Fitz-Gerald: all over the place. And in this instance, you had
• 17:57
  Keith Fitz-Gerald: a gentleman named Michael Burry who was famous for something
• 18:00
  Keith Fitz-Gerald: called The Big Short back in the day. This was
• 18:02
  Keith Fitz-Gerald: in 2007, 2008 when the global mortgage crisis crashed.
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  Keith Fitz-Gerald: Now he made headlines for saying, hey, I think this
• 18:09
  Keith Fitz-Gerald: is gonna be bad news, and he shorted the markets
• 18:12
  Keith Fitz-Gerald: and made a gazillion dollars. Well, he did it...
• 18:15
  Suze: Just out of curiosity, do you feel like he caused
• 18:18
  Suze: the markets to crash back then?
• 18:21
  Keith Fitz-Gerald: No, I do not feel like he caused the market
• 18:23
  Keith Fitz-Gerald: to crash back then. This time around, and speaking personally,
• 18:29
  Keith Fitz-Gerald: I have a very hard time believing that what he
• 18:32
  Keith Fitz-Gerald: has done is not deliberate.
• 18:35
  Keith Fitz-Gerald: When you are a big trader like this, you have
• 18:38
  Keith Fitz-Gerald: to file something called a 13F which discloses your positions.
• 18:42
  Keith Fitz-Gerald: And so if everybody's listening out there, imagine going to
• 18:44
  Keith Fitz-Gerald: the grocery store because you intend to buy all the inventory.
• 18:47
  Keith Fitz-Gerald: You'd obviously have to tell the grocery store you intended
• 18:49
  Keith Fitz-Gerald: to do that so the grocery store could reload and
• 18:52
  Keith Fitz-Gerald: not mess up everybody else who's intending to go shopping that day.
• 18:54
  Suze: OK, now you gotta really speak slowly for everybody because
• 18:58
  Suze: I know you're really familiar with all of this, but
• 19:02
  Suze: it's when you start mentioning
• 19:04
  Suze: and it's technical. This is all brand new, really brand
• 19:08
  Suze: new for the listeners. So you know...
• 19:11
  Keith Fitz-Gerald: I feel like, I
• 19:11
  Keith Fitz-Gerald: feel like, uh, Joe Pesci's character in the Lethal Weapon series. OK, OK, OK, OK...
• 19:17
  Keith Fitz-Gerald: I get so excited about this stuff because Suze, one
• 19:19
  Keith Fitz-Gerald: of the things that is scary as this is, right,
• 19:22
  Keith Fitz-Gerald: I mean just to deviate for a split second, one
• 19:24
  Keith Fitz-Gerald: of the things as scary as this is.
• 19:26
  Keith Fitz-Gerald: Whenever this kind of stuff happens, it is an amazing
• 19:32
  Keith Fitz-Gerald: opportunity for smart investors who can see through the storm, right?
• 19:36
  Keith Fitz-Gerald: My grandfather used to say the night is always darkest
• 19:40
  Keith Fitz-Gerald: before the sun rises, and in a situation like this,
• 19:43
  Keith Fitz-Gerald: that's what we're dealing with behind the scenes because you
• 19:46
  Keith Fitz-Gerald: have this big money trader, Michael Burry, who makes headlines
• 19:50
  Keith Fitz-Gerald: because he's betting Palantir is the world's biggest bubble.
• 19:54
  Keith Fitz-Gerald: And oh my goodness, isn't this terrible. And the media...
• 19:57
  Suze: Now wait, wait, wait, stop for a second. How much do
• 19:59
  Suze: you think he, he put on that trade?
• 20:03
  Keith Fitz-Gerald: I don't know for certain, but I'm hearing in the billions,
• 20:07
  Suze: Alright, billions. So before Palantir reports earnings, before anything comes out,
• 20:15
  Suze: he goes, and what does he do?
• 20:18
  Keith Fitz-Gerald: OK, so before it's coming in, the stock is running
• 20:21
  Keith Fitz-Gerald: to new highs. This is like a movie, the stock
• 20:23
  Keith Fitz-Gerald: is running to new highs, and he's assembling what's called
• 20:26
  Keith Fitz-Gerald: puts or a short position. It's a bet the stock's
• 20:29
  Keith Fitz-Gerald: gonna go down.
• 20:31
  Keith Fitz-Gerald: Now he's done this every year and been wrong many,
• 20:34
  Keith Fitz-Gerald: many times. Tesla was gonna fail. The S&P was gonna crash.
• 20:38
  Keith Fitz-Gerald: There was gonna be nuts. So you gotta take stuff
• 20:40
  Keith Fitz-Gerald: like this with a big grain of salt, like a
• 20:42
  Keith Fitz-Gerald: really big grain of salt. But what makes it unique
• 20:45
  Keith Fitz-Gerald: in this situation is normally he would file his 13F's mid-November. Instead,
• 20:50
  Keith Fitz-Gerald: he chose to file them on the day
• 20:53
  Keith Fitz-Gerald: that Palantir was going to report record
• 20:55
  Keith Fitz-Gerald: earnings on that day.
• 20:56
  Suze: Now wait a minute, wait a minute again, once again,
• 20:59
  Suze: explain to people what is a 13F and why did
• 21:02
  Suze: he have to even fill it out?
• 21:05
  Keith Fitz-Gerald: Because he's a big investor and he can be deemed
• 21:07
  Keith Fitz-Gerald: to move the markets and when he's holding a material position,
• 21:11
  Keith Fitz-Gerald: his fund has to declare to the regulators that they've
• 21:14
  Keith Fitz-Gerald: assembled this
• 21:15
  Keith Fitz-Gerald: position.
• 21:16
  Suze: All right, so wait again, he has an actual fund,
• 21:20
  Suze: that he invests the money of this fund. How big
• 21:23
  Suze: do you think his fund is?
• 21:25
  Keith Fitz-Gerald: I don't know that number off the top of my head,
• 21:26
  Keith Fitz-Gerald: but it's, it's sizable.
• 21:28
  Suze: All right, so billions, is that correct?
• 21:30
  Keith Fitz-Gerald: It's enough to make a difference.
• 21:31
  Suze: All right. And so when you are the manager of
• 21:34
  Suze: a fund.
• 21:35
  Suze: And you're about to make an investment that could absolutely
• 21:40
  Suze: move the market. You have to file this form, correct?
• 21:45
  Keith Fitz-Gerald: That's correct.
• 21:46
  Suze: All right, now, everybody, do you got that? You might
• 21:48
  Suze: wanna write this down because this is a tremendous education
• 21:52
  Suze: of what goes on behind the scenes. So you have
• 21:56
  Suze: to understand it's not always like you think, and that's
• 22:00
  Suze: why we're so privileged to have Mr. Fitz with us.
• 22:03
  Suze: All right, go on, Fitzy.
• 22:05
  Keith Fitz-Gerald: OK, so here's the setup. He's got all of this
• 22:09
  Keith Fitz-Gerald: money bet that the company is gonna go down. He
• 22:12
  Keith Fitz-Gerald: tells the government, hey, you know what? I've bet all
• 22:15
  Keith Fitz-Gerald: this money the company is gonna go down, and he
• 22:17
  Keith Fitz-Gerald: does it on the very same day that Palantir is
• 22:22
  Keith Fitz-Gerald: going to hit new highs, on the very same day
• 22:25
  Keith Fitz-Gerald: that it is going to report record earnings, on the
• 22:28
  Keith Fitz-Gerald: very same day when there are all kinds of positive
• 22:31
  Keith Fitz-Gerald: new partnerships being announced, incredible revenues and profits.
• 22:35
  Suze: Wait, wait, wait, now stop again. Why does it matter that
• 22:39
  Suze: he did that on that particular day?
• 22:43
  Keith Fitz-Gerald: This is where I think it goes from random to deliberate,
• 22:48
  Keith Fitz-Gerald: and this is just my opinion, just speculation. I don't
• 22:51
  Keith Fitz-Gerald: want to get sued. I don't know for a fact.
• 22:53
  Suze: I don't know. I listened to you and you've never
• 22:55
  Suze: been wrong yet, but go on.
• 22:57
  Keith Fitz-Gerald: Well, thank you, thank you. Here we go.
• 22:59
  Keith Fitz-Gerald: He filed this paperwork on the very same day all
• 23:02
  Keith Fitz-Gerald: of the good news was gonna come out, and he
• 23:04
  Keith Fitz-Gerald: knew full well in my humble opinion that the media
• 23:08
  Keith Fitz-Gerald: would take that story hook, line and sinker, and they
• 23:10
  Keith Fitz-Gerald: would run with it globally. Oh my God, Michael Burry,
• 23:14
  Keith Fitz-Gerald: bets Palantir is gonna crash.
• 23:16
  Keith Fitz-Gerald: And sure enough, that's exactly what happened. Fear took over instantly.
• 23:20
  Keith Fitz-Gerald: The big algorithms, which are also now involved, started selling
• 23:25
  Keith Fitz-Gerald: faster than humans could keep up, and the next thing
• 23:27
  Keith Fitz-Gerald: you know, the stock kaboom!
• 23:28
  Suze: Wait, stop one more second.
• 23:31
  Suze: Tell everybody what an algorithm is.
• 23:35
  Keith Fitz-Gerald: Sure, so when you're a trader of that size, when you're,
• 23:39
  Keith Fitz-Gerald: you know, well beyond just an individual investor like we are, right,
• 23:42
  Keith Fitz-Gerald: when you're a trader moving hundreds of millions of dollars
• 23:45
  Keith Fitz-Gerald: at the touch of a button, you have these tremendous
• 23:49
  Keith Fitz-Gerald: sophisticated computer programs who do your bidding for you.
• 23:54
  Keith Fitz-Gerald: And they trade so fast, a human can't keep up. Now,
• 23:59
  Keith Fitz-Gerald: all of the computers talk to other computers on Wall Street,
• 24:02
  Keith Fitz-Gerald: and when one computer says sell, the rest of them
• 24:06
  Keith Fitz-Gerald: wanna race to the bottom. They all wanna jump on
• 24:08
  Keith Fitz-Gerald: board and sell as fast as they can because nobody
• 24:11
  Keith Fitz-Gerald: wants to be holding the hot potato, and prices fall.
• 24:15
  Suze: Yeah, you know, now, let's just put a pin in
• 24:17
  Suze: all that for one second. Everybody, I just want to
• 24:19
  Suze: tell you how I know this is true.
• 24:22
  Suze: So here I am, and all of a sudden I
• 24:24
  Suze: start getting texts from my young friends. When I say young,
• 24:29
  Suze: about 23, 27, 28, that I had all of them.
• 24:33
  Suze: I told them all about Palantir, all right? And all
• 24:37
  Suze: of a sudden that morning they go, Suze, Suze, have
• 24:40
  Suze: you seen what Michael Burry says? We gotta sell, we
• 24:43
  Suze: gotta sell. He thinks it's gonna go down, he's gonna
• 24:46
  Suze: short it. Let's sell.
• 24:49
  Suze: And of course I said, you can sell if you
• 24:51
  Suze: want to pay taxes on it, but it's gonna go
• 24:54
  Suze: down and probably go right back up, so be a
• 24:56
  Suze: fool if you want to be. So, all right, go
• 24:59
  Suze: on now.
• 25:02
  Keith Fitz-Gerald: What happens is these computers now, when they see one
• 25:06
  Keith Fitz-Gerald: big what's called a sell program, when they see one
• 25:09
  Keith Fitz-Gerald: big sell program come online, then all the other computers say,
• 25:14
  Keith Fitz-Gerald: oh man, we should sell. So this is like the
• 25:19
  Keith Fitz-Gerald: rumor mill on steroids. There's no human involvement and the
• 25:23
  Keith Fitz-Gerald: computers just sell, sell, sell, sell, and the price just
• 25:27
  Keith Fitz-Gerald: drops like a rock, and that's what happened. So behind
• 25:30
  Keith Fitz-Gerald: the scenes,
• 25:31
  Keith Fitz-Gerald: you and I are investing in the company because it's
• 25:34
  Keith Fitz-Gerald: a great stock. The computers don't care about that. The
• 25:38
  Keith Fitz-Gerald: computers are fighting with other computers to make sure they're
• 25:41
  Keith Fitz-Gerald: not left with the last potato on the shelf.
• 25:43
  Suze: All right, one last thing, why don't they take into
• 25:47
  Suze: consideration that Palantir came out with record earnings that day?
• 25:53
  Suze: It would be like if Michael hadn't done that,
• 25:57
  Suze: the stock would have been like, oh my God, it
• 25:59
  Suze: exceeded everybody's expectations. How can it keep doing this? Oh
• 26:02
  Suze: my God, everybody didn't think it was gonna be profitable,
• 26:05
  Suze: and it's more profitable than it ever was. Why do
• 26:08
  Suze: they not pay attention to that?
• 26:11
  Keith Fitz-Gerald: Well, that raises a very interesting question and one that
• 26:15
  Keith Fitz-Gerald: does not get talked about nearly enough, but should, in
• 26:18
  Keith Fitz-Gerald: my opinion.
• 26:20
  Keith Fitz-Gerald: The computers, when you're a professional money manager, particularly at scale,
• 26:25
  Keith Fitz-Gerald: meaning billions of dollars, you have to keep your money
• 26:29
  Keith Fitz-Gerald: moving 24/7 all the time. Now, individual investors actually have
• 26:35
  Keith Fitz-Gerald: the edge here.
• 26:37
  Keith Fitz-Gerald: And they have the edge for reasons that Suze's been
• 26:39
  Keith Fitz-Gerald: telling you about for years. You can logically, calmly, coolly,
• 26:45
  Keith Fitz-Gerald: and collectively buy into great stocks when you want to.
• 26:50
  Keith Fitz-Gerald: You can dollar cost average into great stocks, but the
• 26:53
  Keith Fitz-Gerald: big money doesn't have that option.
• 26:56
  Keith Fitz-Gerald: And so what tends to happen is they accelerate time.
• 27:01
  Keith Fitz-Gerald: So that's the one thing you and I can't control,
• 27:03
  Keith Fitz-Gerald: but they can, and so the computers pile in instantly.
• 27:06
  Keith Fitz-Gerald: So in other words, a movie that used to take
• 27:09
  Keith Fitz-Gerald: you and me an hour and a half to watch,
• 27:11
  Keith Fitz-Gerald: they'll watch, because they're computers, in 20 seconds.
• 27:14
  Keith Fitz-Gerald: And the battle's over before your'e even in it. And
• 27:16
  Keith Fitz-Gerald: the trick as an individual investor is not to fall
• 27:20
  Keith Fitz-Gerald: for it. Don't fall for their shtick. Don't fall for
• 27:23
  Keith Fitz-Gerald: the tricks. Don't get sucked into the hype because the
• 27:26
  Keith Fitz-Gerald: hype is what they're trying to get you to suck into.
• 27:29
  Keith Fitz-Gerald: That's not your advantage. It's theirs.
• 27:32
  Suze: All right, so wait, hold on one more second there.
• 27:34
  Suze: So everybody, here's what you have to understand about everything
• 27:38
  Suze: Keith just said.
• 27:40
  Suze: They come out, whether it's Michael or whoever, they place
• 27:44
  Suze: a huge bet that the stock is going to go down,
• 27:48
  Suze: and if the stock goes down, they make a fortune
• 27:51
  Suze: to make sure that it's going to go down or
• 27:54
  Suze: in the hopes that it's going to go down, they
• 27:56
  Suze: start these rumor mills, which is why my younger friends
• 28:00
  Suze: all freaked out.
• 28:01
  Suze: And they wanted to sell because when the headlines are,
• 28:04
  Suze: Michael Burry is betting Palantir is gonna go down, it
• 28:08
  Suze: starts this frenzy where all of you as well as
• 28:12
  Suze: the computers start to sell. The more it goes down,
• 28:16
  Suze: the more of a fortune Michael makes, but he only
• 28:20
  Suze: does it up to a certain point.
• 28:23
  Suze: And then it stops, right, Keith?
• 28:24
  Keith Fitz-Gerald: That's correct. And for all we know, he may even
• 28:29
  Keith Fitz-Gerald: already be out of the deal, having collected his
• 28:31
  Keith Fitz-Gerald: profits.
• 28:33
  Suze: And his profits, everybody, they weren't just a million dollars.
• 28:36
  Suze: They could have been seriously a billion dollars, a few
• 28:40
  Suze: $100 million that he made simply because he started a
• 28:46
  Suze: rumor that's just that simple. So here we are.
• 28:52
  Suze: Now if you're advising people, if you're gonna just give
• 28:55
  Suze: your opinion because we don't know their individual situations, we
• 28:59
  Suze: don't know what they should be investing in, what they shouldn't,
• 29:02
  Suze: but it's just talking about the stock Palantir, it went
• 29:07
  Suze: all the way down to about 169 as we're talking,
• 29:10
  Suze: it closed on Friday, I think at 177.
• 29:14
  Suze: It's now in the aftermarkets, it's been trading around 180.
• 29:19
  Suze: What are you doing? Are you buying more?
• 29:24
  Keith Fitz-Gerald: Yes, I am buying more. I bought more all the
• 29:27
  Keith Fitz-Gerald: way down and I'm gonna buy more all the way
• 29:29
  Keith Fitz-Gerald: back up. I think it's going to reclaim 200 in
• 29:33
  Keith Fitz-Gerald: a few years from now. It'll be three to five
• 29:35
  Keith Fitz-Gerald: times higher than it
• 29:36
  Keith Fitz-Gerald: is today.
• 29:37
  Suze: All right, now tell everybody what that means. So you
• 29:40
  Suze: think it's gonna go back up to 200 probably shortly,
• 29:44
  Suze: even before the end of this year, correct?
• 29:47
  Keith Fitz-Gerald: That is my
• 29:47
  Keith Fitz-Gerald: expectation. Yes.
• 29:48
  Suze: All right, then from there over the next three years
• 29:53
  Suze: it could go to 600, correct?
• 29:57
  Keith Fitz-Gerald: Correct, correct, or even higher.
• 29:57
  Suze: Or higher. So are all of you now understanding,
• 30:03
  Suze: why we always talk about dollar cost averaging, we call
• 30:09
  Suze: it keeping some powder dry, because when something blows up
• 30:13
  Suze: like this, you want to have the money to go
• 30:16
  Suze: back in and take advantage of what just happened because
• 30:21
  Suze: a good stock is a good stock, is a good stock.
• 30:26
  Suze: And just because it goes down does not mean it's
• 30:30
  Suze: a bad stock. It's either caught in a bad situation
• 30:34
  Suze: or maybe the economy, but when a stock goes down,
• 30:38
  Suze: that's a great stock, like Palantir earning money in the
• 30:43
  Suze: forefront of the future of what's going on.
• 30:46
  Suze: That's your ticket to buy something that has gone on
• 30:50
  Suze: serious sale when it already bypassed you by going up
• 30:54
  Suze: to 200. Now, I just have to say this about Keith.
• 30:58
  Suze: Keith first talked about Palantir at 7.
• 31:02
  Suze: And I remember him saying, oh, one day it'll go
• 31:04
  Suze: to 85.
• 31:06
  Suze: And everybody made fun of him. They went, Yeah, like, right.
• 31:10
  Keith Fitz-Gerald: Yes, they did. Yes, they did.
• 31:12
  Suze: And then all of a sudden it's at $85. Then
• 31:16
  Suze: what does he say? He doesn't say it's going to
• 31:18
  Suze: go to $90 or $95. He goes on national television
• 31:22
  Suze: and he tells everybody over and over, I think this
• 31:24
  Suze: is a $200 stock.
• 31:27
  Keith Fitz-Gerald: And they made fun of me again.
• 31:29
  Suze: They did more than make fun of you, Fitzy. They
• 31:32
  Suze: were like, he's an idiot. Are you crazy? This can't happen.
• 31:35
  Suze: And then all of a sudden the stock is all
• 31:38
  Suze: the way up at 2 something when Mr., I call
• 31:42
  Suze: him NB, right, Michael Burry, right, you know, comes in
• 31:48
  Suze: and does his shenanigans.
• 31:50
  Suze: So, I just wanted all of you to have a brief,
• 31:55
  Suze: brief lesson on what happened with one stock. Keith, overall,
• 32:00
  Suze: since we're almost out of time here, right, overall, what
• 32:05
  Suze: do you think the market's doing?
• 32:07
  Suze: What are your particular favorite stocks still, because a lot
• 32:10
  Suze: of people still have IONQ. Do you still love it?
• 32:13
  Keith Fitz-Gerald: Oh
• 32:14
  Keith Fitz-Gerald: my goodness, this is another stock on the forefront of
• 32:16
  Keith Fitz-Gerald: our future. Yes, you bet I do.
• 32:17
  Suze: All right, so we have Palantir, IONQ. You still love Nvidia.
• 32:23
  Keith Fitz-Gerald: Nvidia is still king of the ball, queen of the ball,
• 32:26
  Keith Fitz-Gerald: whatever expression you want to use. It's at the party
• 32:28
  Keith Fitz-Gerald: and gonna dance for a long time.
• 32:30
  Suze: All right, we won't talk about Tesla because we have
• 32:32
  Suze: a difference in opinion there.
• 32:34
  Keith Fitz-Gerald: Well, even if we have a difference in opinion, right,
• 32:36
  Keith Fitz-Gerald: forget about Tesla, for example, but think about all the
• 32:39
  Keith Fitz-Gerald: technologies that it's involved in that other companies besides Tesla
• 32:42
  Keith Fitz-Gerald: are working in robotics, vision, health, neural networks. So if
• 32:47
  Keith Fitz-Gerald: you can't get past Tesla that's OK. You and I
• 32:50
  Keith Fitz-Gerald: will always probably butt heads on that one, but the
• 32:54
  Keith Fitz-Gerald: technology itself with all these other companies that are involved,
• 32:56
  Keith Fitz-Gerald: is still changing our world, and that's an infestable opportunity
• 33:00
  Keith Fitz-Gerald: that we will never again see in our lifetimes.
• 33:03
  Suze: All right, so you heard it here on the Women
• 33:06
  Suze: and Money podcast. Hopefully Keith will be kind enough to
• 33:11
  Suze: join us again
• 33:12
  Suze: in the future when things like last week happened, because
• 33:16
  Suze: last week was a phenomenon that all of you need
• 33:19
  Suze: to learn about. And so therefore, now you've learned it.
• 33:23
  Suze: So here's the bottom line. Keith, do you know how
• 33:26
  Suze: we end the podcast? Do you know my last sayings?
• 33:30
  Keith Fitz-Gerald: Considerably more, more style than I do, so I'm gonna
• 33:32
  Keith Fitz-Gerald: let you finish.
• 33:34
  Suze: All right, so everybody, there's only
• 33:36
  Suze: one thing that both of us want you to remember
• 33:39
  Suze: when it comes to your money, and it is this:
• 33:42
  Suze: People first, then money, then things. Keith, thank you from
• 33:46
  Suze: the bottom of my heart, Fitzy.
• 33:48
  Keith Fitz-Gerald: It's an honor. Thank you everyone.
• 33:50
  Suze: Right now all of you stay safe, stay healthy, stay secure,
• 33:56
  Suze: and stay smart. See you soon. Bye bye.