Latest / Financial Survival Network / The FOMO Boom—Then the Blowback - Andrew Horowitz #6294

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The FOMO Boom—Then the Blowback - Andrew Horowitz #6294 · Financial Survival Network

0:00
Speaker 1: And ask the question where where do the nobody come from?
0:01
Speaker 1: Who's buying? You know, back at Acrail it turned out
0:04
Speaker 1: it was foreign investors. There was Asian retail sovereign wealth funds,
0:09
Speaker 1: hedge funds outside of the US, because I think they've
0:11
Speaker 1: seen the story before and they started that whole rally.
0:14
Speaker 1: And then what happened is FOMO then kicks in. If
0:16
Speaker 1: you're missing out and the idea that you know, well,
0:19
Speaker 1: what's the worst that can happen here? And if you
0:21
Speaker 1: look back to the financial crisis, you know the worst
0:23
Speaker 1: can happen is you lose your house, you lose you know,
0:25
Speaker 1: your money and all that, which is pretty damn bad.
0:27
Speaker 1: Look back to twenty twenty. What should you've lost? You
0:30
Speaker 1: lost your money and your life.
0:32
Speaker 2: You were listening to Carrie Letz's Financial Survival Network, where
0:35
Speaker 2: you get valuable information you just can't find anywhere else
0:39
Speaker 2: to thrive in today's trying times. You need the Financial
0:43
Speaker 2: Survival Network now more than ever. Go to Financial Survivalnetwork
0:48
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0:52
Speaker 2: Survival Network now more than ever.
0:59
Speaker 3: And well, thank you are listening to and watching the
1:02
Speaker 3: Financial Survival Network. I'm your host Carrie Lutz. Hey, we've
1:06
Speaker 3: gotten close to the middle of June. We got trade
1:09
Speaker 3: deals going on right and left. We got the markets
1:14
Speaker 3: trading getting closer and closer to record levels. And well,
1:19
Speaker 3: we like when we get to this point in time
1:22
Speaker 3: to talk with Andrew Horowitz, disciplined investor.
1:26
Speaker 1: Andrew, it's great to have you back on the show. Hey, Carrie,
1:29
Speaker 1: how are you? Thanks?
1:30
Speaker 3: Okay, okay. We're enjoying this nice warm Florida weather here
1:35
Speaker 3: hot and while Florida is heating up, so are the markets?
1:40
Speaker 3: Aren't there?
1:41
Speaker 1: Yeah, things are, Things are resilient. There's definitely been a
1:46
Speaker 1: significant bid to markets generally speaking, and any kind of
1:49
Speaker 1: good news really kicks things off. Some of the positions
1:51
Speaker 1: we have, for example in the last few days, and
1:55
Speaker 1: more speculative to a degree, like our SMSMR is a
1:58
Speaker 1: small module reactor stocks nuclear or as I call it,
2:02
Speaker 1: new clear energy, not nuclear, new clear energy, So everybody
2:06
Speaker 1: could wrap their head around something different that sounds good,
2:09
Speaker 1: versus thinking about the China syndrome with Jack Lemon back
2:12
Speaker 1: in the seventies. You know, is breaking out. I mean,
2:17
Speaker 1: we're we're talking in the last four months, five months
2:20
Speaker 1: that we've owned these things, you know, one hundred and
2:22
Speaker 1: seventy to two returns.
2:24
Speaker 3: Already amazing, amazing. Yeah, I have a friend who worked
2:28
Speaker 3: for a large contractor. He's retired, but because he knows
2:32
Speaker 3: all about the nukes, that can't let him go, so
2:35
Speaker 3: they pay him a fortune to be a consultant. It's
2:38
Speaker 3: kind of funny. And yeah, he's big on those, on
2:43
Speaker 3: those modulars. He's working on them behind the scenes, and
2:46
Speaker 3: he's convinced it's the future. But unfortunately, what he told
2:51
Speaker 3: me is it's not quite as simple as you say, oh,
2:56
Speaker 3: let's just put one. Ain't over here or over there.
2:59
Speaker 3: It's not really that simple, but it is a big
3:02
Speaker 3: advance from where it used to be.
3:06
Speaker 1: Yeah, the words small is really not the best use
3:09
Speaker 1: of that, because the smallest relative to the big, Right,
3:12
Speaker 1: it's not these things that you could just carry around
3:13
Speaker 1: on your back all at one day. Maybe we'll get.
3:16
Speaker 3: There, yeah, suitcase suitcase power plants. You know, we're kind
3:20
Speaker 3: of come from nuclear subs and nuclear powered aircraft carriers.
3:28
Speaker 3: Those are small, modular and they're they're portable by nature.
3:32
Speaker 3: So so so we thought it was all over in April,
3:37
Speaker 3: and here we are. You know, we were supposed to
3:40
Speaker 3: sell and go away in May, and we're still buying.
3:45
Speaker 1: I mean, it looks like the big something happens. I
3:49
Speaker 1: think something happens from a psychological standpoint, when we have
3:52
Speaker 1: these events. You look back in history and you see
3:55
Speaker 1: when you've ever had these more recent history, probably back
3:59
Speaker 1: since two thousand and eight, where you look at these
4:02
Speaker 1: big drawdowns on the markets where you have eight, ten, fifteen,
4:05
Speaker 1: twenty percent move and then it happens is abrough ut
4:08
Speaker 1: it happens, you know, for a reason potentially, and then
4:11
Speaker 1: all of a sudden it starts to turn the corner
4:13
Speaker 1: pretty fast. We had another v recovery again after this
4:18
Speaker 1: big shock. But what's interesting is that the bids keep coming.
4:21
Speaker 1: Look back to April and we did some of the
4:23
Speaker 1: forensics on this, and you can find that and ask
4:26
Speaker 1: the question, where where do nobody come from? Who's buying?
4:28
Speaker 1: You know, back at April it turned out it was
4:30
Speaker 1: foreign investors. There was Asian retail sovereign wealth funds, hedge
4:35
Speaker 1: funds outside of the US, because I think they've seen
4:37
Speaker 1: the story before and they started that whole rally. And
4:40
Speaker 1: then what happened is FOMO then kicks in. I f
4:42
Speaker 1: you're missing out. And the idea that you know, well,
4:45
Speaker 1: what's the worst that can happen here? And if you
4:47
Speaker 1: look back to the financial crisis, you know the worst
4:48
Speaker 1: can happen. You lose your house, you lose you know,
4:51
Speaker 1: your money and all that, which is pretty damn bad.
4:53
Speaker 1: You look back to twenty twenty what should you've lost?
4:56
Speaker 1: You lost your money and your life. You look back
4:58
Speaker 1: to twenty twenty five, but what could you've lost a
5:01
Speaker 1: couple of bucks? There's no You're not losing your house.
5:04
Speaker 1: You're not losing your house, You're not losing your life.
5:07
Speaker 1: So big deal, right, you found what I'm saying.
5:11
Speaker 3: It's only money.
5:12
Speaker 1: It's only money. And and and with the current idea
5:16
Speaker 1: that we've seen this movie before, the Fed will step in,
5:19
Speaker 1: the government will step in. You know, Trump comes in
5:22
Speaker 1: and say his bystocks. He said it a few times,
5:24
Speaker 1: but you know, and then all you know, things are
5:25
Speaker 1: starting to pick up. And then miraculously we get all
5:28
Speaker 1: these deals that are done or pauses on the tariffs.
5:32
Speaker 1: You know, the terriffs went into place they're supposed to
5:33
Speaker 1: go into place of last minute was okay, we'll lift
5:35
Speaker 1: them up. Everybody freaked out. So that the bark is
5:39
Speaker 1: much worse than the bite. And we've discovered this. Whether
5:42
Speaker 1: you want to call it the taco trade, which I'm
5:43
Speaker 1: not a big fan of saying, or whether you say
5:45
Speaker 1: that this administration is trying to negotiate and put the
5:48
Speaker 1: pressures on, but really is not going to have the
5:50
Speaker 1: teeth to bite into this situation because they know that
5:53
Speaker 1: the ramifications are a bond market that could sell off,
5:57
Speaker 1: a dollar that can sell off, and the stock market
5:59
Speaker 1: that could sell off of trillions of dollars or at
6:01
Speaker 1: risk here over what eighty one hundred billion dollars a month?
6:05
Speaker 1: You're gonna go for multiple trillions of dollars when you
6:08
Speaker 1: can have you know, eighty billion or one hundred billion
6:11
Speaker 1: maybe making in tariffs and maybe four hundred billion a year.
6:14
Speaker 1: It makes no sense. This makes no sense.
6:16
Speaker 3: Yeah, yeah, well, risk reward, right, risk reward. You always
6:21
Speaker 3: got to be looking at that with your investing in anything.
6:24
Speaker 3: So what sectors are you particularly upbeat about.
6:28
Speaker 1: Let's start with the downbeat right now. There's a lot
6:30
Speaker 1: of concern over retail. You know, you've seen a big
6:33
Speaker 1: disparity in numbers, so Lulu Lemon, you so just get
6:36
Speaker 1: absolutely a viscerated recently on their outlook, saying that they're
6:40
Speaker 1: you know, the dynamic geopolitic geopolitics. That was the words
6:44
Speaker 1: they used in their conference call. Actually was something that
6:48
Speaker 1: really spooked people. And then you see the other side,
6:50
Speaker 1: you know, like david Buster is actually doing okay, and
6:53
Speaker 1: that's interesting for a place that you just throw your
6:54
Speaker 1: money away essentially, right, So so people are not buying Yeah, right,
6:59
Speaker 1: you throw away your money at playing ski bowl at
7:03
Speaker 1: david Busters, but you're not buying yourself a pair of
7:06
Speaker 1: workout pants, you know, Walmart, Costco. You're concerned about the
7:11
Speaker 1: uh A consumer, but yet things are okay. You know,
7:15
Speaker 1: whether or not they're gonna have to eat some of
7:17
Speaker 1: the taraffs or raise prices. But the consumer, again is
7:20
Speaker 1: resilient and depending on who you are. I mean, I was.
7:24
Speaker 1: I can tell you I was in the Bahamas last weekend.
7:25
Speaker 1: We were at a little private club, beach bar because
7:28
Speaker 1: we were vited. It was a long story, and the
7:31
Speaker 1: prices were absurd, absurd. Yeah, I'll tell you absurd, absurd
7:36
Speaker 1: to a point that like, oh my god, absurd. Literally
7:39
Speaker 1: Now I brought a bunch of people there, so just
7:41
Speaker 1: you have to wait for the whole story here, because
7:42
Speaker 1: it's I'm not as nuts as I'm about to think.
7:44
Speaker 3: I am.
7:45
Speaker 1: I got a hamburger and a drink and it was one
7:47
Speaker 1: hundred dollars. Yeah, Now it sounds like the Bahamas that
7:51
Speaker 1: I said, it's never It's not that bad in the Bahamas.
7:53
Speaker 1: It's not that that's ridiculous. And I said, look, I
7:56
Speaker 1: brought all these people to this private club to them
7:57
Speaker 1: check it out. So they comped it. They camped. I
8:00
Speaker 1: wasn't buying that sixty five dollars burger without being caught up.
8:03
Speaker 3: How's it go away? Usually they do not have good
8:05
Speaker 3: burgers in the Bahamas.
8:07
Speaker 1: It was it was they brought everything in from Miami.
8:08
Speaker 1: Everything's brought into that one little beach club. It's called
8:11
Speaker 1: the Benita Beach Club in Bivinie's brand new five million
8:14
Speaker 1: dollars in up houses, private beach club, private cabanas. They
8:18
Speaker 1: asked me to come because I brought up thirty boats
8:21
Speaker 1: over to Bimini on a trip that we went to.
8:23
Speaker 1: So we got entrede to this place and spent a
8:26
Speaker 1: whole lot of money. But my point though, is that
8:28
Speaker 1: there are people still spending Now that's just my crowd
8:31
Speaker 1: or anything like that. That's not what I'm saying. It's
8:33
Speaker 1: people are spending money. Depending on where you are, there's
8:36
Speaker 1: pockets that are problematic. People don't need maybe another pair
8:40
Speaker 1: of Lululemon pants. They just don't need them, so they're
8:43
Speaker 1: not buying them, but they are doing other things. They
8:46
Speaker 1: are going to finally back to the dollar general, et cetera. Okay,
8:49
Speaker 1: so put that aside. You know, you got some things
8:51
Speaker 1: that are good, some things that are bed, some restaurants
8:53
Speaker 1: that are having good times, some that are bad, you know,
8:57
Speaker 1: and big v recoveries. You know, look at a company
8:59
Speaker 1: that's looking today at Wingstop. W Ing is a symbol
9:03
Speaker 1: total almost a double since April because why well we
9:08
Speaker 1: got you know, we're not worried so worried about chicken
9:10
Speaker 1: bird flu. All that's been resolved. Right, There was a
9:13
Speaker 1: big problem with the eggs that happened to do with
9:15
Speaker 1: bird flu and colleague of the chickens, which by the way,
9:18
Speaker 1: have wings, which Wingstop needs to serve their particular brand. Right,
9:24
Speaker 1: so that that's been resolved, some of these things that
9:27
Speaker 1: have been playing out. The inflation numbers that we saw
9:29
Speaker 1: this week are a little bit better that should help
9:30
Speaker 1: the banks a little bit. And we see the yield
9:32
Speaker 1: curve in pretty good shape right now. The employment numbers
9:35
Speaker 1: in pretty good shape. Technology clearly some areas we like
9:38
Speaker 1: to some of the defense firms that are continuing on
9:41
Speaker 1: some of the commods in certain areas, healthcare questionable. We
9:46
Speaker 1: think that Rfkjuni is going to continue this stampede. Just
9:48
Speaker 1: fired the whole vaccination panel. I saw that just this
9:53
Speaker 1: just this week. But yet, you know, we're looking at
9:56
Speaker 1: companies that are like that have seen a big sell
9:58
Speaker 1: off when he first came in, like a Crisper, which
10:00
Speaker 1: is a company that makes Crisper is a kind of
10:04
Speaker 1: process for gene splicing and genetic engineering, if you will,
10:10
Speaker 1: hoping to solve a lot of problems. They have a
10:11
Speaker 1: couple of products out there ready that are helping. But
10:14
Speaker 1: you got a few in that very select few in
10:16
Speaker 1: that area, and people really worried about that under RFK Junior.
10:20
Speaker 1: But it seems he's not really hitting that in the
10:22
Speaker 1: stock seems to be a little bit more resilient lately.
10:27
Speaker 1: Some of the names in like a CROs that I like,
10:32
Speaker 1: which just bought a company called Generak, which it is
10:35
Speaker 1: I have this is that you probably bought it right
10:38
Speaker 1: before a hurricane season or right after either one.
10:41
Speaker 3: Yeah, I bought it when I moved into this place
10:43
Speaker 3: in twenty twenty one, and there was a backlog of
10:47
Speaker 3: the things, and finally I got it a six month backlog.
10:54
Speaker 1: We like it this time of year. The seasonality trends
10:56
Speaker 1: that show that Generak is actually a great stock. It
10:59
Speaker 1: has been. If you look at the analogue going back
11:01
Speaker 1: and the pattern which I know you're a big, big
11:03
Speaker 1: fan of, going back many many years that starting about
11:07
Speaker 1: Judish mid June, when you start getting the idea and
11:10
Speaker 1: people say, oh, it's hurricane season again, and storm season again.
11:12
Speaker 1: It's it's a rainy season again. It's flood season again,
11:16
Speaker 1: tornadoes blah blah blah blah blah, right, all this stuff, Well, oh,
11:20
Speaker 1: Generator Company is the only pure play generator company really
11:23
Speaker 1: out there. And all you want is as horrible as
11:26
Speaker 1: it sounds. They sound like a roofer Okay, sound like
11:29
Speaker 1: a guy that right now that owns a roofing company.
11:31
Speaker 1: I wish for a storm. Yeah, so you have that area.
11:37
Speaker 1: I still like some of the you know, some of
11:41
Speaker 1: the technology names that are like an Apple Loving which
11:47
Speaker 1: got a bad rapt for a while, but it's come
11:48
Speaker 1: back very strong. Some of the Chinese at t A
11:53
Speaker 1: tour holdings are basically like hotel chains in China. Especially
11:58
Speaker 1: if you open back up a little bit, that can
12:00
Speaker 1: be interesting. I think that European stocks still have a
12:03
Speaker 1: pretty good valuation overall. Bonds. Stay away from the long
12:07
Speaker 1: end of the bond because I think it's gonna be
12:08
Speaker 1: a very bumpy ride. Gold still is still an appetite
12:12
Speaker 1: for gold, and so platinum, platinum, silver, yep. In those areas.
12:17
Speaker 1: We'll see what happens with oil. It it's in a range.
12:20
Speaker 1: I don't think it's going to break out of any
12:22
Speaker 1: ranging ranges right here. Doesn't seem like that, and something
12:24
Speaker 1: really weird happens, you know, with all the things that
12:27
Speaker 1: are going on in Russia and Middle East, it's still
12:29
Speaker 1: not opec quash to continue pumping.
12:33
Speaker 3: Geopolitical risk for sure. What you're feeling about Big Pharma,
12:38
Speaker 3: it looks like Trump has kind of declared war on them.
12:43
Speaker 3: Not sure if his executive order is enough to bring
12:46
Speaker 3: down their prices, but they might voluntarily bring them down
12:51
Speaker 3: to avoid what could potentially be really bad.
12:55
Speaker 1: You know, I think I've come to the point that
12:59
Speaker 1: the bad things that the Trump administration are doing don't
13:02
Speaker 1: have any teeth, and the good things are really sparking
13:06
Speaker 1: some stocks. I'll give you an example. You have this
13:08
Speaker 1: whole thing going the el Le stock. I mean it
13:11
Speaker 1: was up dramatically this week. You know, you look at
13:14
Speaker 1: some of the names in that industry, Yeah, this Spizer
13:16
Speaker 1: and all. A few of them just haven't been lagger
13:18
Speaker 1: I mean hardcore laggards. You know, Maderna just ugly ugly,
13:22
Speaker 1: ugly ugly. Right, But some of the big names that
13:25
Speaker 1: have some important cures, I don't know how much they're
13:28
Speaker 1: gonna be really dinged now. Obviously, you know, with the
13:32
Speaker 1: executive order to bring down pricing to match what we
13:36
Speaker 1: have in various countries. You know that whole thing where
13:39
Speaker 1: there's irregularity. So I guess the best way to put
13:42
Speaker 1: it in pricing with certain drugs, why are we paying
13:46
Speaker 1: more than they are? And we're the ones that make
13:48
Speaker 1: it here and strange, right, But you look at some
13:51
Speaker 1: executive orders with the nuclear energy or nuclear energy or
13:53
Speaker 1: even the we'll call it autonomous slash like duty aircraft
14:02
Speaker 1: like a jobee or an arch aviation, I mean beautiful
14:05
Speaker 1: moves on executive order to keep developing these. So I
14:10
Speaker 1: think that I'd rather play the side on the positive
14:13
Speaker 1: developments that there's going to be some money behind it,
14:16
Speaker 1: rather than negative because I find that the negative ones, right,
14:19
Speaker 1: the things that should bust in industry aren't really doing
14:23
Speaker 1: anything right, at least in the short term.
14:26
Speaker 3: All right, So what about AI? Yeah? What about it?
14:30
Speaker 3: What's your take? Investible? Is it too late? Has the
14:34
Speaker 3: train left the station?
14:36
Speaker 1: So what do you have to invest in? You got video,
14:38
Speaker 1: you got Microsoft to get Amazon. I like Amazon a lot.
14:42
Speaker 1: You have Google, which I don't like. I think that
14:46
Speaker 1: Google actually is going to accountbalize on his self. In fact,
14:49
Speaker 1: if you do a Google search, yeah, as you do
14:51
Speaker 1: do Google search right now, you're gonna come up with
14:53
Speaker 1: the AI first and you don't need to go any further, right, Yeah,
14:56
Speaker 1: for sure. I don't remember the last time I clicked
14:58
Speaker 1: on something.
14:59
Speaker 3: Yeah, that's killed. There's search business, and they're facing a
15:02
Speaker 3: potential breakup, which I think they are actually preparing for.
15:06
Speaker 3: They believe it's inevitable, and you're going to see three
15:10
Speaker 3: companies come out of it, I think. And the search
15:13
Speaker 3: is probably the least attractive, but YouTube still growing and
15:19
Speaker 3: their other their Google apps thing is also growing so
15:23
Speaker 3: interesting to see.
15:25
Speaker 1: Facebook Meta just bought a fifty nine percent take in
15:28
Speaker 1: an AI company doing what they can to try to
15:31
Speaker 1: make sure they stay relevant and to have the coming
15:34
Speaker 1: out of the new product that will essentially allow for
15:37
Speaker 1: the relief of your advertising and PR firm and utilize
15:42
Speaker 1: an in house AI bot or agent or whatever you
15:44
Speaker 1: want to call it. Yeah, they're going the word has
15:47
Speaker 1: changed versus bots these days. If you notice that that's
15:50
Speaker 1: kind of a trend towards you're using the word agent
15:53
Speaker 1: sounds better than a bot. Use this agent that will
15:57
Speaker 1: allow for development, creation of marketing slash ad and advertising campaigns.
16:07
Speaker 3: I just then up for one today just to see
16:10
Speaker 3: a demo of it. That'll do your PR to like
16:15
Speaker 3: three hundred and fifty thousand podcasts. It'll do an outreach
16:19
Speaker 3: to get you on whichever you know you obviously.
16:21
Speaker 1: I saw I saw something. Which way was that one?
16:22
Speaker 1: Because I saw I'm trying to think of the name
16:24
Speaker 1: it was. It was PR Bodies. Was that the one pod?
16:28
Speaker 3: Pitch pod pitch Yeah, yeah, you probably got that same
16:31
Speaker 3: email as me. You have a podcast, you got the
16:34
Speaker 3: email and uh yeah, it'll you know, AI is taken over.
16:39
Speaker 3: I mean, I use it for so much. I don't
16:41
Speaker 3: use it to actually create content, but I use it
16:44
Speaker 3: to refine it and augment it and to do due
16:48
Speaker 3: diligence on it as well. And you know, it's pretty spectacular.
16:53
Speaker 3: And then I don't use just one AI. I use
16:56
Speaker 3: two and sometimes three. I'll use chatch ept Rock and
17:02
Speaker 3: another one. I don't really trust the Google AI and
17:07
Speaker 3: the Meta AI. They got too many constructs. It's like
17:12
Speaker 3: it's like Chinese AI tried deep seek and put in
17:16
Speaker 3: Tieneman square and you get a blank screen, right.
17:20
Speaker 1: Yeah, blank stare blank screen. I mean I think that
17:23
Speaker 1: you look at there's a great great piece of Sam
17:25
Speaker 1: Altman on his blog. Does look up Sam Altman blog?
17:28
Speaker 1: Now how much of this he wrote versus AI, I
17:30
Speaker 1: don't know. But he wrote a piece this week I
17:34
Speaker 1: think this morning actually called the Gentle Singularity, talking about
17:38
Speaker 1: building millions of robots, initially by hand in the robots,
17:42
Speaker 1: building robots, robots, building data centers, data centers, building data centers.
17:47
Speaker 1: Kind of an interesting discussion by the ninth By the
17:50
Speaker 1: twenty thirties, this is all gonna be there to a degree. Now,
17:55
Speaker 1: whether that's twenty thirty five, twenty thirty two.
17:57
Speaker 3: I don't know.
17:58
Speaker 1: You know, we were looking for row Bot taxes for years.
18:01
Speaker 1: Supposedly one was spotted in Austin just this week two
18:05
Speaker 1: oh too is spoken too?
18:06
Speaker 3: Now, yeah, it was too.
18:07
Speaker 1: They were amazing. By the way, how week after Musk
18:11
Speaker 1: is no longer involved in Tesla in Doge, all of
18:14
Speaker 1: a sudden the news shifts to Tesla. And also when
18:17
Speaker 1: we get these new things coming out.
18:19
Speaker 3: That's going on, that's that's orchestration at its fondest finest.
18:24
Speaker 3: I mean, just like that. Why why didn't we have
18:26
Speaker 3: this a month ago? Because he was doing something else
18:28
Speaker 3: he decided we got to do something here. Yeah. Well,
18:31
Speaker 3: it's the Rosie o'donal effect, where fights are created not
18:35
Speaker 3: because there's underlying animosity, but if they're created to shift
18:41
Speaker 3: the narrative, whatever it might be.
18:43
Speaker 1: Sa I went to high school with her, he did.
18:46
Speaker 1: Huh yep, Rosie O'Donnell.
18:48
Speaker 3: Uh.
18:48
Speaker 1: And also Bob Costas he graduated about ten years before me.
18:53
Speaker 3: Wow.
18:54
Speaker 1: And uh, there's actually a Florida sportscaster who I'm forgetting
18:58
Speaker 1: his name now, and he was about two years before me.
19:02
Speaker 1: He actually graduated in the same classes as Rosie o'donald.
19:04
Speaker 1: I was friends with Rosie's brother, but she graduated I
19:08
Speaker 1: think three or four years ahead of me. Uh, who
19:15
Speaker 1: was his name? I can't remember his name now.
19:16
Speaker 3: Yeah. I never believed that that fight was really legit.
19:23
Speaker 1: Oh yeah, we talked about that on DH and Plug.
19:25
Speaker 1: They talked about that with They've Wanted Only. John ced
19:28
Speaker 1: Devorak this week on DHM Plug podcast. I don't know
19:32
Speaker 1: if you listened to that yet, but we talked about
19:34
Speaker 1: the whole uh spat and the well, the distastefulness of
19:39
Speaker 1: it all. Frankly, but but uh public eats it up though. Yeah.
19:45
Speaker 1: That that that John said that it was created by
19:49
Speaker 1: Trump essentially to allow for an exit plan for for Musk.
19:55
Speaker 3: I totally agree with him, you.
19:56
Speaker 1: Know, I'm not I'm not totally there. I'm not totally there,
19:59
Speaker 1: just letting you know. I think it's too harsh. I mean,
20:01
Speaker 1: you could have done something else. You don't have to
20:02
Speaker 1: be so nasty. You didn't have to have a Musk
20:05
Speaker 1: with the Epstein files though, and he came up with
20:08
Speaker 1: all sort of reasons why each one of these things happened.
20:11
Speaker 3: Yeah, but I don't know.
20:12
Speaker 1: I don't think people that's smart. By the way, I
20:14
Speaker 1: don't sorry.
20:15
Speaker 3: I don't think they are, but I think the AI is.
20:19
Speaker 3: Maybe maybe I think Trump GTP said, GPT said it
20:23
Speaker 3: all up here, Andrew, and possibly, Hey, while we're at
20:26
Speaker 3: I'm just gonna pitch my book here. The way according
20:29
Speaker 3: to Martin Armstrong.
20:31
Speaker 1: Wait, could it make that clear? I can't see the
20:32
Speaker 1: bottom movie hand a little bit right there? Put it
20:33
Speaker 1: closer there you go right there?
20:35
Speaker 3: Yeah, the world, according to Martin Armstrong, conversations with the
20:39
Speaker 3: master forecaster, and you know, a lot of forecasts he
20:43
Speaker 3: made seemingly out of the air, you know, have come
20:46
Speaker 3: to pass. There's at least a dozen of them in
20:49
Speaker 3: the book Breaking of the Swiss Peg to the Euro
20:53
Speaker 3: Gold prices. Told me for ten years they weren't going anywhere,
20:58
Speaker 3: and they didn't, and then all of a sudden he said,
21:00
Speaker 3: they're common, and then they are, and a lot of
21:04
Speaker 3: other forecasts. The link to buy it is in the
21:07
Speaker 3: show notes this interview. And Andrew one last question cryptocurrencies,
21:14
Speaker 3: particularly Bitcoin. I was at the Bitcoin twenty twenty five
21:18
Speaker 3: conference in Vegas sponsored by none other than I think Blackstone,
21:23
Speaker 3: but maybe yeah, I think it was Blackstone.
21:25
Speaker 1: Was they black Rock or Blackstone.
21:27
Speaker 3: You know, I always get them confused.
21:29
Speaker 1: I think Blackrock has ETF funds, the Blackstone's private equity.
21:32
Speaker 1: Every think would be Blackstone. I think I mean black
21:34
Speaker 1: Rock Blackrock. You're right, I always get them confused. I
21:37
Speaker 1: stand corrected. I think it was well a bunch of
21:39
Speaker 1: Rock ones of Stone. I mean, it's the.
21:42
Speaker 3: Probably connected anyway, but we don't know. But the amount
21:46
Speaker 3: of money that was there Andrew was staggering. You know,
21:51
Speaker 3: these booths I guestimate went from fifty thousand to mid
21:57
Speaker 3: seven figures and there are thirty five thousand people there
22:00
Speaker 3: and media coverage and politicians. You know that someone told
22:06
Speaker 3: me that the half of the Republicans' political contributions coming
22:10
Speaker 3: from the crypto sector.
22:12
Speaker 1: I wouldn't doubt it. I wouldn't doubt by the way,
22:16
Speaker 1: just speaking about cryptocurrencies. In about four weeks, I think
22:21
Speaker 1: Anthony Scaramuchi is going to be a guest of my show,
22:24
Speaker 1: The Disciplined Investor podcast who the last time he was
22:27
Speaker 1: on I believe, if I'm not correct, he had to
22:29
Speaker 1: do a hard cut because he was having a meeting
22:31
Speaker 1: with the Democratic National Committee to talk to them right
22:34
Speaker 1: before the election, and that was coming on the heels
22:39
Speaker 1: of him talking to the RNC about the points of that.
22:42
Speaker 1: So there's a lot of many too, splashed around because
22:44
Speaker 1: a lot of money to be made, a lot of
22:48
Speaker 1: congressional griffs, and I find that the stuff that's going
22:52
Speaker 1: on right now with the fact that I call me nuts,
22:56
Speaker 1: and by the way, just to be clear, you want
22:58
Speaker 1: to shoot me down and not listen to me because
22:59
Speaker 1: I'm talking it's about something about your favorite president or whatever.
23:02
Speaker 1: The fact is, I've never seen such a thing that
23:05
Speaker 1: the president's family owns a cryptocurrency firm and now we're
23:10
Speaker 1: pushing cryptocurrency reform. Distasteful.
23:14
Speaker 3: I agree, totally agree, but not good.
23:17
Speaker 1: With that in mind. Putting that aside for a second,
23:18
Speaker 1: I'm a big fan of like let's say ethereum. I
23:21
Speaker 1: think there's a great opportunity there, especially with the stable
23:23
Speaker 1: coins that are coming through and that's being resolved it seemed,
23:27
Speaker 1: uh and being utilized to a great extent as an alternative.
23:31
Speaker 1: I don't think the idea of utilizing bitcoin is a
23:35
Speaker 1: currency for the for a country is a wise idea
23:39
Speaker 1: at all. As a matter of fact, I can go
23:40
Speaker 1: through a laundry list, which I'm not going to do
23:42
Speaker 1: of reasons and rationales why it makes no sense to
23:44
Speaker 1: do that from economics one O one, from basic principles
23:49
Speaker 1: of how an economy is formed, and and and and
23:53
Speaker 1: uh and and runs. But you know, it's been a
23:57
Speaker 1: nice run here. I think that again by the dip,
24:00
Speaker 1: there's a lot of speculative money out there because the
24:03
Speaker 1: fact that we have governments that are continuing to stimulate,
24:07
Speaker 1: because the reality is that there's been no negative impact
24:11
Speaker 1: by the trillions of dollars worth of bonds that if
24:14
Speaker 1: we have amassed over the last number of years, and
24:17
Speaker 1: until something happens, then is all going to be just
24:20
Speaker 1: let's keep on doing what we've been doing until we
24:23
Speaker 1: don't get a reversal from a v trade down or
24:26
Speaker 1: the hard and a half where the markets come down
24:28
Speaker 1: very dramatically and all of a sudden sit down like
24:31
Speaker 1: they did in the seventies for fifteen years, for the
24:33
Speaker 1: two thousands, where the Nasdaq was so highly value that
24:38
Speaker 1: it took I don't know what it took eighteen years
24:41
Speaker 1: to come back to zero value again. Until we have
24:44
Speaker 1: one of those kind of flush outs, this speculative nature
24:48
Speaker 1: of trading is going to happen and the excessive amount
24:52
Speaker 1: of marketing is going to go on because you realize
24:56
Speaker 1: something that just like in Vegas, where the casinos.
25:01
Speaker 3: Are not built on the losers, on the winners, they're
25:04
Speaker 3: now I hold them for winners, that's for sure. My parents.
25:07
Speaker 1: Same thing with what's going on with the with the
25:10
Speaker 1: bitcoin booths. You know, a million dollar booth is not
25:13
Speaker 1: built for the lowest cost bitcoin operation in town.
25:18
Speaker 3: Mm hm.
25:19
Speaker 1: So I have no objection if people want to buy
25:21
Speaker 1: any of these. I mean I would stay away from
25:23
Speaker 1: the mean coins and the crap out there that's you know,
25:25
Speaker 1: the shit coins that no value waitress whatever coin or
25:29
Speaker 1: the name with crazy Dog, the German Shepherd coin or
25:34
Speaker 1: whatever is this.
25:34
Speaker 3: Week shebo you know or whatever?
25:36
Speaker 1: Yeah right, yeah exactly. I actually own forty million coins,
25:42
Speaker 1: but you knew.
25:42
Speaker 3: Oh well, congratulations, what is it? What's the trading at
25:46
Speaker 3: these days?
25:47
Speaker 1: I could tell you the value is about eighteen hundred dollars,
25:50
Speaker 1: but I figure if it goes to a dollar ever,
25:53
Speaker 1: I'm in great shape.
25:54
Speaker 3: Hey, you know what we call we call those, Andrew,
25:58
Speaker 3: we call them klepto currencies exactly. Yeah, yeah, yeah, you
26:02
Speaker 3: know the president should be floating, uh crypto. You know,
26:07
Speaker 3: two days before or a day before he becomes president.
26:10
Speaker 3: There's no excuse for that.
26:12
Speaker 1: And but I do like crypto aside from all that
26:15
Speaker 1: crap that goes on, because a lot of craft that
26:16
Speaker 1: goes on around the crypto universe, just like just like markets,
26:20
Speaker 1: by the way, with with with SPACs and some of
26:22
Speaker 1: the I p o s and some of the bad
26:24
Speaker 1: news and the and the trial balloons that are sent up,
26:26
Speaker 1: and the bad earnings reports and the expectation. I mean
26:28
Speaker 1: there's all that in finance. You know why because there's
26:31
Speaker 1: money to be made. Yeah, and it's going to happen. Yeah,
26:35
Speaker 1: generally speaking, you know, stay with the big boys.
26:37
Speaker 3: Uh only in the theory.
26:39
Speaker 1: Huh Yeah, those those are I don't know. I'll stop
26:42
Speaker 1: there those two.
26:43
Speaker 3: All right, I'll buy it. So just tell us where
26:46
Speaker 3: we find your podcast. Where we find you Andrew?
26:49
Speaker 1: Yeah, you go to YouTube, which we don't have a
26:51
Speaker 1: big following on YouTube because we just started that. Actually
26:53
Speaker 1: we don't have any video. Amazon Music is pretty big,
26:56
Speaker 1: and uh, of course over at Spotify and Apple. Podcasts
26:59
Speaker 1: that Diciplined Investor dot com or just look up the
27:02
Speaker 1: Discipline Investor podcast or d H Unplugged Brockhart Horowitz Unplugged
27:08
Speaker 1: is our other podcast, and there's plenty of stuff in
27:09
Speaker 1: our strategies, what we do, how we do it, all
27:13
Speaker 1: on The Discipline Investor dot com.
27:15
Speaker 3: All Right, Hey, appreciate you coming on. I've gotten questions
27:17
Speaker 3: for Andrew myself.
27:18
Speaker 4: Email klatcarrielots dot com and uh you'll find a link
27:24
Speaker 4: to Andrew's site in the show notes to this interview
27:27
Speaker 4: on Financial Survival Network dot com.
27:29
Speaker 1: Carrie, what was that book again? I don't remember the
27:31
Speaker 1: name you?
27:32
Speaker 3: All right, The World according to Martin Armstrong World.
27:36
Speaker 1: Okay, that's what I missed, The World according to Okay, gotcha,
27:38
Speaker 1: And it's available on Amazon and wherever.
27:41
Speaker 3: Fine books used to be sold. All right, Ben, Hey,
27:45
Speaker 3: it's great catching up with you. We'll talk to you
27:47
Speaker 3: again real soon.
27:47
Speaker 2: So much, Gerry, thanks for listening to Carrie Letz's Financial
27:51
Speaker 2: Survival Network, your solution to today's trying times. For the latest,
27:56
Speaker 2: go to Financial Survivalnetwork dot com. Financial Vival Network now
28:02
Speaker 2: more than ever