Latest / Money Matters with Greg / Episode 199: Tech Shock And Market Calm

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Episode 199: Tech Shock And Market Calm · Money Matters with Greg

• 0:01
  SPEAKER_00: Welcome to Money Matters with Greg, where we dive into the money conversations shaping your life.
• 0:08
  SPEAKER_00: From investments to estate planning, insurance to taxes, we cover it all with a fresh perspective.
• 0:14
  SPEAKER_00: Join Greg and his guests each week to get inspired and take control of your financial future.
• 0:20
  SPEAKER_00: Let's get started.
• 0:22
  SPEAKER_01: Securities and investment advisory services offered through LPL Financial, a registered investment advisor, member of PinRES IPC.1 FM WVLP.
• 1:00
  SPEAKER_01: Thanks to everybody in the WVLP family for having us and being a part of the WVLP family is obviously always an honor, as well as podcast anywhere you pod, uh, Apple, Spotify, you name it, uh, YouTube as well.
• 1:14
  SPEAKER_01: You can check this out on the YouTube channel uh when you get a chance.
• 1:18
  SPEAKER_01: Again, licensed advisor and uh financial advisor to uh many people uh and their families, their businesses uh throughout the nation.
• 1:28
  SPEAKER_01: And what we try to do on this show is talk money, talk uh hopefully things make sense.
• 1:35
  SPEAKER_01: Um, excuses the pawn or the dad joke, but uh just trying to do our best here to kind of fill you in on the market so you can make money, grow your wealth, protect your wealth, uh distribute your wealth during life, and distribute your wealth uh after death.
• 1:50
  SPEAKER_01: Those are the four quadrants of wealth management that we talk about on this show.
• 1:54
  SPEAKER_01: And hopefully we can give you some tips and uh some ideas on some of the things.
• 1:59
  SPEAKER_01: We're gonna go about a half an hour is what we do with episode, I think, 199.
• 2:04
  SPEAKER_01: And um getting there.
• 2:06
  SPEAKER_01: We're up against the 200 level.
• 2:09
  SPEAKER_01: Um, and uh we're certainly really close.
• 2:11
  SPEAKER_01: If not, this might actually be our 200th.
• 2:14
  SPEAKER_01: So um it does help to count once in a while.
• 2:17
  SPEAKER_01: And uh it has been a long, strange trip it has been to quote my favorite uh Grateful Dead song, um, or one of them.
• 2:26
  SPEAKER_01: And it has been a long, strange trip trip indeed.
• 2:29
  SPEAKER_01: Uh that is exactly why I want to talk about today as far as the markets go.
• 2:34
  SPEAKER_01: Uh we're post-election, and it has been a wild, wild ride.
• 2:41
  SPEAKER_01: So uh with that being said, uh wanted to get into some business owner stuff that we've had.
• 2:47
  SPEAKER_01: Uh you can find all of our stuff on YouTube channel uh at Faro Wealth, as are all of our socials.
• 2:52
  SPEAKER_01: Please like and subscribe.
• 2:55
  SPEAKER_01: And uh we certainly hope you can learn some more things uh as we move along as you subscribe to the podcast as well.
• 3:03
  SPEAKER_01: And also uh follow us uh uh on the social media handles at Faralwealth.
• 3:10
  SPEAKER_01: Um certainly looking forward to helping.
• 3:12
  SPEAKER_01: You can also email me, Greg at FaralWealth, uh, any ideas or thoughts uh as well that uh you want on the show.
• 3:19
  SPEAKER_01: But it has been crazy, uh to say the least.
• 3:23
  SPEAKER_01: And uh just want to talk about here we are in November, um, the second week of November as we move along.
• 3:30
  SPEAKER_01: And I just want to talk about some of the things that have been going on.
• 3:33
  SPEAKER_01: Just update you um really and then also talk about uh really the three things that are gonna help stabilize tech uh in the markets, I think.
• 3:42
  SPEAKER_01: Uh those are gonna be really important, and also uh sort of give you an update on what's going on this week.
• 3:48
  SPEAKER_01: So I want to go back to last week because I think it really matters uh with the election that was last Tuesday.
• 3:54
  SPEAKER_01: But stocks fell sharply uh last week.
• 3:57
  SPEAKER_01: It was a really brutal week, and the plunge was really in tech stocks across the board and growing concerns on continued AI data centers uh for sure, and data center investment is a theme that you're gonna hear a lot about when we talk about uh overall uh market um sentiment and also the credit availability that uh to AI companies that uh that you uh see.
• 4:23
  SPEAKER_01: Now, the SP fell uh uh last week 2.67 percent for the week, and um still up 8.78 percent for the year to date as far as returns goes, but it was brutal.
• 4:34
  SPEAKER_01: Not gonna lie, tech stocks drove the uh total performance of the SP uh really all week, and it started Monday as tech stocks really saw continued selling uh and weakness.
• 4:44
  SPEAKER_01: Uh the NASDAQ and the SP uh 500 was both lower uh Monday afternoon, uh, while the rest of the market uh logged a solid rally.
• 4:55
  SPEAKER_01: The SP fell 0.5 percent.
• 4:58
  SPEAKER_01: And stocks rebounded on Tuesday thanks to uh some pre-election uh news positioning as dip buyers sort of uh stepped in and uh the SP 500 finished up 0.3.
• 5:12
  SPEAKER_01: And then Wednesday was the day that uh stock surged.
• 5:16
  SPEAKER_01: Um so again, wild ride, uh things were pretty weak uh last week to start the week, but then Wednesday was incredible.
• 5:24
  SPEAKER_01: And this was following the midterm elections, which really largely met expectations as far as predictions, and the Democratic blue wave certainly materialized as uh Democrats seized uh majorities in the House and the Senate.
• 5:39
  SPEAKER_01: If you didn't know that, um in the in America you've been living under a rock.
• 5:44
  SPEAKER_01: Um but they also did not secure the two-thirds majorities, and that means that you can't override any presidential vetoes.
• 5:53
  SPEAKER_01: But uh the election results really pointed towards uh uh legislative gridlock.
• 5:59
  SPEAKER_01: And I've always said this: like uh the market doesn't like certainty.
• 6:04
  SPEAKER_01: If it's certain that and we have certainty, if it's certain that nothing's gonna get done in Washington in the next two years, uh the market's fine with that.
• 6:13
  SPEAKER_01: And for the next two years and the removal of the election uncertainty really caused investors to come off the sidelines, and uh the market broadly rallied.
• 6:24
  SPEAKER_01: Um, so the SP 500 gained 1.6 percent.
• 6:28
  SPEAKER_01: And then Thursday happened.
• 6:30
  SPEAKER_01: So these gains were raised on Thursday as the Nasdaq plunged uh from the outset and dropped uh 5.5%.
• 6:41
  SPEAKER_01: Um it's the biggest one-day decline since Liberation Day uh in April of 2025.
• 6:48
  SPEAKER_01: And the drop was led by AI infrastructure stocks, semiconductors, memory, neo-clouds, as investors really worried that delayed data center build-outs uh were gonna reduce earnings and economic growth, number one, and then two, fully really further exacerbate the concerns about AI companies securing capital and continue that uh infrastructure build-out that everyone's so um excited about.
• 7:16
  SPEAKER_01: Now, the declines fed on themselves throughout the morning, and unlike the previous week, uh pulled the entire market lower.
• 7:24
  SPEAKER_01: Everything was down.
• 7:25
  SPEAKER_01: I mean, banks were down, financials are down, it was just ugly, and the SP 500 closed near session lows.
• 7:31
  SPEAKER_01: There's really no place to run um that day.
• 7:34
  SPEAKER_01: There were a couple of value stocks that were up, but for the most part, stocks did manage really an oversold bounce on Friday, and that was led by tech for sure.
• 7:44
  SPEAKER_01: But the rally in the NASDAQ was about 1%.
• 7:46
  SPEAKER_01: And that's not a great response considering the 5% decline on Thursday, and the Nasdaq faded uh really from the highs overall, in that the SP closed really with a modest gain Friday, and the rest of the market really did not.
• 8:05
  SPEAKER_01: So I want to talk about what can stabilize tech, and I want to talk about three things that uh we believe uh three events to watch that are coming up that you really want to be able to make sure you keep your eye on and uh try to figure out what um what the growing CapEx AI spending and the capex anxiety that really bubbled over from Thursday as investors sort of like sold anything tech uh last week aggressively, really, on fears that AI CapEx spending would dry up and endangering earnings and economic growth.
• 8:46
  SPEAKER_01: And that's been the whole conversation we've had.
• 8:48
  SPEAKER_01: It's like earnings are blockbuster.
• 8:50
  SPEAKER_01: Earnings have been incredible.
• 8:52
  SPEAKER_01: So great time to be an investor right now.
• 8:55
  SPEAKER_01: But now that the clients from last week are now really made this correction um since October 6th, and let's talk about that for a second.
• 9:04
  SPEAKER_01: Most recent all-time high in the NASDAQ was October 6th.
• 9:08
  SPEAKER_01: The indice has declined 14% from there.
• 9:11
  SPEAKER_01: Um and that's an enormous move for the index that uh that that is big for any indice in just one month, let alone uh even a year.
• 9:20
  SPEAKER_01: And these declines really in this pure play, quote unquote, AI names are much greater.
• 9:27
  SPEAKER_01: Uh AIQ is down 16, DRAM was down to 30, and SOC's SOXX, which is the indice, is down 33 percent for the month.
• 9:36
  SPEAKER_01: So uh quite the blood bloodbath.
• 9:39
  SPEAKER_01: And the real damage has been done to the AI space, and it's really erased all a lot of the profits and turned sentiment towards this AI negative uh conversation.
• 9:49
  SPEAKER_01: And while these declines really uh don't match the actual fundamentals, which is back to uh what we believe is you know what has changed really, uh, other than sentiment, um the they certainly haven't deteriorated all that much.
• 10:05
  SPEAKER_01: And the reality in the declines of this magnitude certainly don't end in a day, but they do require that pushback on their really the root causes of the decline to trigger dip buying.
• 10:22
  SPEAKER_01: Um so which usually ends these types of corrections, which actually happened this one this past Monday in the new week.
• 10:30
  SPEAKER_01: It was a solid day, and today um overall uh we're down a little, but nothing terrible.
• 10:36
  SPEAKER_01: Um so you know, I really want to identify these three, these few looming tech events that could help start the process.
• 10:42
  SPEAKER_01: So, first of all, is the first stabilizing catalyst number one is anthropics IPO.
• 10:50
  SPEAKER_01: So, what makes it positive for markets?
• 10:52
  SPEAKER_01: Well, first, that IPO occurs before Thanksgiving, um, hopefully.
• 10:59
  SPEAKER_01: Uh that's really important that it does.
• 11:01
  SPEAKER_01: And that means that that means that it's not delayed.
• 11:04
  SPEAKER_01: So, and second, the IPO creates an anthropic valuation of over a trillion dollars.
• 11:11
  SPEAKER_01: And ideally, um, as opposed to close to 1.5 trillion would be possible.
• 11:16
  SPEAKER_01: So that would be really good.
• 11:18
  SPEAKER_01: Uh those stabilize that would stabilize uh the tech world for sure.
• 11:22
  SPEAKER_01: So then stabilizing catalyst number two would be positive data center comments from governors-elects in Texas, Georgia, and Ohio in that order.
• 11:34
  SPEAKER_01: Um no specific date on this uh now, now that the elections are over, but markets really want to hear that the softening of this anti-data center rhetoric from government, um, governor-elect uh himosa, right?
• 11:51
  SPEAKER_01: Bottoms out of Georgia and Acton out of Ohio.
• 11:54
  SPEAKER_01: Now there's already been saber rattling in Texas.
• 11:59
  SPEAKER_01: And she's already kind of pulled back on comments because, you know, Elon basically came out and said, um, you really want to beat us up?
• 12:09
  SPEAKER_01: We've only invested um trillions of dollars, certainly billions, if not trillions, into the Texas uh economy.
• 12:17
  SPEAKER_01: Um, if you don't want us, we'll leave um and go to Florida.
• 12:20
  SPEAKER_01: So uh Florida, of course, threw out the red carpet and said, we'd love to have you.
• 12:25
  SPEAKER_01: But you're talking about, I mean, some 80,000 employees and taxes and everything else, like, you know, be careful.
• 12:32
  SPEAKER_01: Um, and this isn't really an unreasonable expectation as data centers do bring a lot of revenue for a state and lots of local governments.
• 12:41
  SPEAKER_01: So uh a compromise is probably likely, I would guess.
• 12:46
  SPEAKER_01: So um just or you know, it just goes on idiocy as far as money goes.
• 12:52
  SPEAKER_01: Um, you know, but politics aside, it you just start talking about the money and what the investment is, and you really gotta, you really gotta reconsider it.
• 13:01
  SPEAKER_01: And in in my opinion, um, and that's what you ultimately want in your politicians, you would hope, is some sort of reason.
• 13:09
  SPEAKER_01: And we'll see.
• 13:11
  SPEAKER_01: So that's you know, in that order, um, Texas, Georgia, Ohio.
• 13:16
  SPEAKER_01: And then the third catalyst would be Strong Nvidia, uh, Core Weave Earnings, uh, Core Weave reports here coming up uh November 10th.
• 13:28
  SPEAKER_01: So today.
• 13:29
  SPEAKER_01: And since it's uh one of the really the most well-known neo clouds, uh neo clouds are the epicenter of AI funding and revenue concerns for sure.
• 13:39
  SPEAKER_01: Um want to see those.
• 13:41
  SPEAKER_01: A strong report uh really details growing demand that will help ease concerns.
• 13:45
  SPEAKER_01: Now, next week Nvidia uh reports quarterly earnings and is a really the bellwether AI company.
• 13:52
  SPEAKER_01: Strong results will certainly push back on concerns that AI spending is drying up.
• 13:57
  SPEAKER_01: Um Nvidia has another news event that their CEO uh seems like he uh has been having an affair uh um with uh then markets didn't like that.
• 14:11
  SPEAKER_01: Uh stock was down 5% when the market rallied uh just on Monday, and uh it was uh it was ugly, and it's still down uh considerably.
• 14:20
  SPEAKER_01: So investors are weighing all that as far as the decision.
• 14:23
  SPEAKER_01: But the bottom line is tech remains the epicenter of this market and the epicenter of this market volatility.
• 14:30
  SPEAKER_01: And until that stabilizes, uh, the market will have really a hard time rebounding.
• 14:35
  SPEAKER_01: Um these concerns in tech are really spreading to economic concerns if AI CapEx dries up, which is why the rest of the market dropped last week.
• 14:46
  SPEAKER_01: Now, an aforementioned, all those aforementioned events will help sort of stabilize these three things, will really help stay stabilize in the near term.
• 14:57
  SPEAKER_01: Um, and the sooner that occurs, the better for this market, because uh we saw at the other week, you know, AI cap funding and capex returns and concerns um are now a direct headwind on um the entire market.
• 15:14
  SPEAKER_01: And we really need to see positive tech events to help this market stabilize, rebound uh these three events.
• 15:23
  SPEAKER_01: Now, I want to talk a little bit those so those are the three things that I think are catalysts to calm nerves, because that's exactly what we need right now.
• 15:37
  SPEAKER_01: Election's over, is what it is.
• 15:41
  SPEAKER_01: You can celebrate or not, uh whatever you want to do.
• 15:45
  SPEAKER_01: But the market cares about these things I'm talking about here today, and that's how you make money.
• 15:49
  SPEAKER_01: So the show's money matters for Greg.
• 15:51
  SPEAKER_01: I'm Greg Farrell, CEO and owner of Ferrell Wealth.
• 15:54
  SPEAKER_01: It's a wealth management firm backed by uh our broker dealers LPL.
• 15:58
  SPEAKER_01: LPL Financial is one of the largest um broker dealers in the nation.
• 16:04
  SPEAKER_01: Um I failed to mention, and I want to make sure it's here, that the opinions voiced in the show or program are for general information only and are intended to provide uh special advice, uh specific advice uh or recommendations for any individual.
• 16:21
  SPEAKER_01: Uh and to determine which strategies or investments may be suitable for you, consult the approved um your approved qualified professional prior to making decisions.
• 16:30
  SPEAKER_01: Third-party guests uh are not affiliated with LPL Financial or Feral Wealth.
• 16:36
  SPEAKER_01: I apologize.
• 16:36
  SPEAKER_01: I did not read that at the beginning.
• 16:38
  SPEAKER_01: Uh that happens.
• 16:40
  SPEAKER_01: Um, so uh that is done.
• 16:43
  SPEAKER_01: Let's go into the economics.
• 16:45
  SPEAKER_01: Uh again, we're broadcasting here at WVLP 103.1 FM.
• 16:50
  SPEAKER_01: I want to thank everybody in the WVLP family uh for uh a great lineup, as always.
• 16:56
  SPEAKER_01: Uh it's highly recommend you check out WVLP.org with all the different uh shows that are on, the the uh the music that is played, uh the talk shows that are there.
• 17:07
  SPEAKER_01: And um it's uh it's just a wonderful place as a community uh radio station.
• 17:15
  SPEAKER_01: So economics.
• 17:17
  SPEAKER_01: Economic data last week really reinforced the growth of the US that the U.S.
• 17:24
  SPEAKER_01: economy is strong and that um it's important to support the market amidst this AI-related turmoil.
• 17:34
  SPEAKER_01: But last week brought the quote unquote big three monthly economic reports.
• 17:39
  SPEAKER_01: So jobs report, ISM manufacturing PMI, and ISM services PMI, all very, very important.
• 17:46
  SPEAKER_01: And uh they are the big three, of which the report showed strong activity and uh really firm inflation pressures, although no added not as bad as feared, which was good.
• 17:59
  SPEAKER_01: And the net result really was the data was generally neutral.
• 18:03
  SPEAKER_01: Um and it confirmed that the astronaut economy and elevated inflation pressures are but the data didn't really point to too hot.
• 18:10
  SPEAKER_01: Um, the quote unquote Goldilocks that we've used before, too hot, too cold, just right.
• 18:16
  SPEAKER_01: And too hot growth for accelerating inflation concerns means you know the Fed uh chair and the uh federated Fed governors are gonna want to raise rates.
• 18:26
  SPEAKER_01: So starting with the jobs report, it was uh at the higher end of really a just right preview.
• 18:34
  SPEAKER_01: And uh jobs added uh rose 165,000 uh versus 70,000.
• 18:40
  SPEAKER_01: And uh there were over another 85,000 jobs added in revisions for September and August, which is always something you want to look at.
• 18:49
  SPEAKER_01: Uh the unemployment rate declined to 4.1 percent, and the wage growth r uh rose to 3.1 percent from 2.9.
• 18:58
  SPEAKER_01: All of those numbers are good.
• 18:59
  SPEAKER_01: All of those numbers are slightly hot, but none of them are enough to warrant uh the Fed getting even more aggressive than they currently are and uh on rate hikes.
• 19:11
  SPEAKER_01: So the biggest takeaways from the jobs report are one, the labor market remains in great shape, and that's very positive for consumer spending.
• 19:22
  SPEAKER_01: So consumers, we know consumers in America love to spend, and they certainly support the economy when they do.
• 19:28
  SPEAKER_01: And the broader, really the overall economic growth is a good thing.
• 19:33
  SPEAKER_01: And uh next would be the Fed is still on track to hike rates in December and March, uh, which is okay because that's really every other meeting in the market had really priced set in.
• 19:45
  SPEAKER_01: Now, looking at other the other two of the big three monthly economic reports, which is ISM manufacturing PMI and services PMI, they both gave great a great uh really the same message.
• 20:00
  SPEAKER_01: So strong growth elevated inflation, but inflation didn't get worse.
• 20:05
  SPEAKER_01: And the October ISM manufacturing slipped 54.6 versus 55.5.
• 20:11
  SPEAKER_01: And the services PMI uh declined 54.4 versus 54.7.
• 20:18
  SPEAKER_01: So not much, but that's you know still a decline.
• 20:21
  SPEAKER_01: And both those readings are really comfortable above that 50 that uh signals expansion, but neither really leapt higher, implying the economy that isn't gonna really, really, really run hot.
• 20:33
  SPEAKER_01: So almost as important as the headline index were the prices index and both uh declined slightly, and the manufacturing PMI set fell 75.2 from 77.2, and the services PMI then slipped from 73 from 74.
• 20:51
  SPEAKER_01: So neither of those are big moves, but price indices are still, you know, near year-to-year-to-date highs.
• 20:59
  SPEAKER_01: And um they did really didn't help jump higher and imply that inflation pressures are accelerating.
• 21:06
  SPEAKER_01: So there really weren't any you know they weren't negative on the market.
• 21:09
  SPEAKER_01: So the bottom line on that is the most important monthly economic re sub uh reports uh came out and they showed that uh really what we already knew about the economy in October, and namely that growth is strong, which is positive for the markets, and inflation is high, but not materially worse now.
• 21:29
  SPEAKER_01: Um we just sort of need to see those inflation metrics begin to kind of recede and hopefully, you know, certainly starting um starting this week.
• 21:40
  SPEAKER_01: So this week.
• 21:42
  SPEAKER_01: Let's let's back up a little bit and no, go forward and talk about we backed up talked about last week and the economy and everything else, but let's go this week.
• 21:51
  SPEAKER_01: So this is not um there's not a lot of economic reports this week, um, but uh we did get something from Fed Chair Warsh.
• 21:59
  unknown: Um
• 22:00
  SPEAKER_01: That really kind of pushed back on the idea of aggressive rate hikes.
• 22:02
  SPEAKER_01: Uh, that was a comment that was mentioned.
• 22:05
  SPEAKER_01: Um, a couple other Fed governors today uh came out and said uh that they see uh maybe 25 basis points by the end of December, um, and maybe even 50.
• 22:16
  SPEAKER_01: So um headline CPI really rose uh to 3.7 percent in September, and core CPI rose to 2.7.
• 22:25
  SPEAKER_01: And the markets really wanted to see at a minimum stability in that data and uh ideally a decline, uh even a small one, back towards the Fed's 2.0 target.
• 22:38
  SPEAKER_01: And if we don't get that progress, uh then expect treasury yields to kind of continue to rise.
• 22:45
  SPEAKER_01: Uh they've been uh certainly lowered because of all the pressure that's lots of buyers in the treasuries have come in because of the fear in the equity markets.
• 22:53
  SPEAKER_01: And uh that obviously drives yields down.
• 22:56
  SPEAKER_01: But the the other notable report this week is Friday's PPI report.
• 23:00
  SPEAKER_01: You want to keep an eye on that.
• 23:02
  SPEAKER_01: Well, it's not supposed to be as important uh as the CPI report.
• 23:05
  SPEAKER_01: It still matters because it's viewed loosely, really, as this leading indicator of CPI and uh inflation trends uh more generally.
• 23:14
  SPEAKER_01: So bottom line on that is uh there's not a lot of economic reports uh this week, but the ones uh we get are important, and certainly at the end um of the week is something to keep an eye on.
• 23:32
  SPEAKER_01: Uh the other thing to keep an eye on right now is oil.
• 23:34
  SPEAKER_01: So I want to talk about this real quick.
• 23:36
  SPEAKER_01: Um, you know, we've seen a massive decline in oil.
• 23:39
  SPEAKER_01: Um crude is around and drop below$90 a barrel.
• 23:43
  SPEAKER_01: Um crude was above$110 a barrel, and we're talking$20 a barrel.
• 23:49
  SPEAKER_01: And uh really the market priced in the resumption of U.S.
• 23:52
  SPEAKER_01: attacks uh with that,$110.
• 23:56
  SPEAKER_01: Um instead of you know rising diplomatic hope that sent oil sharply lower.
• 24:02
  SPEAKER_01: Um uh the market's really been uh sort of off the sides or like you know, trying to manage these these expectations.
• 24:11
  SPEAKER_01: But now um it's feeling pretty good.
• 24:14
  SPEAKER_01: Uh that the uh President Trump came out and said he's certainly hopes there's a resolution soon.
• 24:20
  SPEAKER_01: And that drove oil even lower.
• 24:21
  SPEAKER_01: Today it's down 2%.
• 24:23
  SPEAKER_01: And um it look openly uh drop in Brent below 80 um certainly wouldn't be surprising.
• 24:31
  SPEAKER_01: So uh that will only help the market, the economy, and every everybody else that's um that's certainly uh we've had a rally in in oil for a number of reasons.
• 24:42
  SPEAKER_01: I think there was some consideration that things were uh manipulated going into the election.
• 24:49
  SPEAKER_01: Uh who knows?
• 24:50
  SPEAKER_01: Um and but that really does matter um to investors is you know, obviously and consumers.
• 24:59
  SPEAKER_01: Uh let's be honest.
• 25:00
  SPEAKER_01: We all fill our tanks up.
• 25:01
  SPEAKER_01: Uh every business has, you know, dis diesel.
• 25:04
  SPEAKER_01: Um, and these prices have been um extreme for sure.
• 25:08
  SPEAKER_01: So certainly getting some sort of sort of relief.
• 25:11
  SPEAKER_01: You can look forward to that uh coming up here, uh, which is really, really good.
• 25:15
  SPEAKER_01: And hopefully that'll help your pocketbooks.
• 25:18
  SPEAKER_01: So the show's Money Matters for Greg.
• 25:19
  SPEAKER_01: I'm Greg Farrell, CEO and owner of Ferrell Wealth.
• 25:22
  SPEAKER_01: It's a wealth management firm, independent wealth management firm locally in Valparaiso, Indiana.
• 25:26
  SPEAKER_01: Uh, we love our hometown of Valparaiso, Indiana, just outside Chicago.
• 25:30
  SPEAKER_01: We also love our Chicago Bears.
• 25:32
  SPEAKER_01: We're also very excited about being 7-2 going into the bye week.
• 25:35
  SPEAKER_01: Gotta mention that.
• 25:37
  SPEAKER_01: I personally am very uh uh slanted and biased towards Indiana University and the national champions uh Indiana Hoosiers.
• 25:47
  SPEAKER_01: Had a great time um down in Bloomington uh during homecoming, hosted a tailgate uh down there with over 500 people.
• 25:54
  SPEAKER_01: Everyone's invited.
• 25:55
  SPEAKER_01: Uh all the listeners, I love seeing everybody.
• 25:58
  SPEAKER_01: Uh and there are lots of people that show up and say that they uh follow the show or they follow the YouTube channel.
• 26:04
  SPEAKER_01: And I just uh want to thank everybody for all the uh benevolence and love uh that went down.
• 26:10
  SPEAKER_01: Uh amazing game uh in the overtime to to uh we were dead to rights for sure, um, with 21 seconds left and 75 yards to go and uh a 60-yard field goal in in college.
• 26:23
  SPEAKER_01: So uh what's that?
• 26:24
  SPEAKER_01: But um uh anyway, it was uh great to see everybody.
• 26:28
  SPEAKER_01: And uh again, we host uh tailgates down there.
• 26:31
  SPEAKER_01: I usually post on social media, so follow us there to find out where we're gonna be, and uh you can join in the fun and the festivities.
• 26:38
  SPEAKER_01: We went through a ton of food, um uh uh just a ton of drink and just just a ton of fun.
• 26:44
  SPEAKER_01: So um always uh excited to see everybody and uh post on social media as you can follow us on Instagram uh mainly is where we post X, Facebook, uh LinkedIn, and um of course YouTube.
• 26:59
  SPEAKER_01: So uh thanks for being here today.
• 27:01
  SPEAKER_01: Uh uh certainly hope I was helpful in updating you on what happened last week and then ultimately what's going on this week, and then uh hopefully with the stabilization in tech, uh, what we need to see, what the market needs to see before we can uh uh run higher here and um and make some people some money.
• 27:19
  SPEAKER_01: So uh thanks again to the WVLP family 103.1 FM uh for having us on the show.
• 27:25
  SPEAKER_01: Again, the show is Money Matters with Greg, and I hope you have a very healthy and profitable week.
• 27:30
  SPEAKER_01: We'll see you next week.
• 27:37
  SPEAKER_00: Thanks for tuning in to Money Matters with Greg.
• 27:39
  SPEAKER_00: We hope you gained some valuable insights today.
• 27:42
  SPEAKER_00: Remember, your financial journey is personal, but you don't have to go it alone.
• 27:47
  SPEAKER_00: If you enjoyed the show, be sure to subscribe and share.
• 27:50
  SPEAKER_00: Until next time, here's to making your money work for you.
• 27:54
  SPEAKER_00: Securities and investment advisory services offered to LPL Financial, a registered investment advisor, member FINRA SIPC.