Market open live stream. It's been quite a while since we've done one of these, and uh, Futures is somewhat trying to recover a little bit. Right now, there's a lot of fear about the fact that we saw the CEO once in Hong Kong get covered and a lot of concerns about covet cases rising in China. You see Mobility data slowing down substantially and so this is leading to fears, especially at companies like Tesla I Don't know. Here we go, they're going to shut down Shanghai again. Uh, so obviously. uh, covet exploding? uh, and covet cases rising in China While Mobility is going down air travel plummeting, you've got a Subway usage plummeting. Uh, these are not things that lead to a lot of optimism for the market. China has also had some pretty nice rallies uh, over the last year here, but unfortunately those seem to get sold every single time. like we've had this sort of Chinese optimism multiple times before. I'll show you a chart right here. Look at this particular chart. This shows you a sort of the circled blue, orange and yellow areas here. How we we have little rallies and they plummet. You know? Uh, the rallies just regularly gets sold. Now you had a very nice one that lasted there for a while obviously that started in the 2022 there. Uh, but but look at how it's how it's transitioned, how we're lower than where we were in the pandemic I Want to say if you look at the Msci China index, you're down, uh, somewhere around 60 percent over the last two years. in China it's been a really, really painful trade. uh, to be in China and uh, all the fear now about Mobility plummeting is not helping whatsoever. Mobility Obviously a very big leading indicator for consumerism and retail sales. Uh, Chinese Consumerism in the toilet? Uh, expectantly though. So because see one of the things that we remember here and we think about a lot here in America is that when the housing market slows down, you get people spending less money. And so that's one of the things that we're expecting to happen in America Is that okay? Well, when the housing market actually continues, its downtrend that it's on. Uh, how is that going to affect stocks? How is that going to affect earnings? A lot of folks really concerned that we're going to see a lot of negative earnings next year, we'll see. But I will tell you some some good news because I Like some good news. okay, some good news. Look at this. finally. How long has it been folks? How long has it been? Finally Nespresso Coming out potentially with these, well, not potentially I Mean it looks like they actually will, but coming up with paper pods? this is a game changer now. I Have used this thing very seldomly because well. I I got a Nespresso coffee machine in here I'll probably I would actually probably have to buy a different one. that sucks. See, that's how they always get you. You have to buy another machine now. But anyway, usually you have these little um, aluminum kind of little packet thingies but then they have like a liner inside that gets all nasty and you can't really recycle it. So kind of wasteful to use a little ponds, so paper pods would be really neat to see. Uh, anyway, that's that. So uh, let's take a look at. uh I want to show you the break even here and let's see here, break even break even for the five year has been a big deal and it's been something that I've been tracking for. Oh gosh, I mean certainly over this last year here as we've been worried about the fed and inflation and I want to look at the latest moves here with you. We've kind of flattened over here which is nice because we we want to be going in the down direction right? Jerome Powell was pissed that this section was happening and uh, you know we really peaked after Jerome Powell talked dirty to us and uh and and he pushed these expectations right back down. which really, that's his job. You know people are people wonder like oh, what's Jerome Powell's job why is he going to be so mean to this Mark to the markets. His job is to talk down inflation expectations. so when this chart goes down, he he succeeds. He's winning. What is this? Google Cloud considers scrapping sales commissions based on Deal values That sounds terrible. That sounds absolutely terrible Google Wait a minute. Let's let's think that through for a moment. Okay, so when Google and and they've been emailing okay, this is actually kind of interesting and it just makes me wonder if there's like dysfunction at Google which there probably is. But I've gotten quite a few emails from this person over at Google and they're like hey, why don't you upgrade for your businesses to to the next you know G admin suite and which we use you know for for all the different companies and uh and and I'm like okay gee, well what benefits would I get You know they're emailing me, trying to upsell me to get to the next Google package and uh and and uh, they list the benefits and I'm like dude, I already have those benefits and the person's like oh, I'm sorry, You're right, you're you're already paying for the best package we have and I'm like, come on man, y'all a little dysfunctional here. But anyway, uh, this. this is an interesting update just now coming across here that Google considers scrapping sales commissions based on Deal values. What that's kind of implying is that these sales reps who are trying to sell, uh, longer term contracts whether they're 12-month contracts or 24-month contracts, or, or you know, even even six month contracts. whatever, they're having trouble selling them at a larger rate and so usually commissions are assigned as a percentage of the contract value. So let's say you sell a 10-year contract. Commissions can be fat on that sucker, right? You sell a 10-year contract at 50 000 bucks and you get a 10 commission. That's a five grand check. But if now you're doing a six-month contract at, you know I don't know. Six month contract at Uh I don't know. Five grand, a year, two and a half thousand dollars? Call it three thousand dollars. Well now a sudden you're getting three hundred dollar check and Google's probably like man, these contracts ain't worth it. We should just replace you with a bot. Uh, that's a little bit of of how I'm reading into this. So I I think Google killing potentially potentially uh commissions uh on deals because of what they say because of deal values is is a way of saying their their margin is suffering, right? So margin is suffering. That's a sign that they're actually losing. PP Remember PP is really important PP stands for Pricing Power and we want our PP to go up because you want to invest Generally in my opinion, not personalized. Financial Advice: Just you know I have to be careful with what I say because you know a licensed financial advisor. I Just want to make sure it's clear it's not personalized to you. But I think my opinion is that it's a good idea to invest in companies that have pricing power. uh and uh. And this is actually a potential sign that Google's losing some of its pricing power. Now we've we've watched Google lose its pricing power as their ads have become less. uh uh. Well, not only profitable, but uh, you've you've seen Less ad spending? That's no surprise. But uh, now you're potentially seeing that in the the services sectors as well and that's actually good for the FED Just bad for the stock market. when you start seeing Services suffer now. Google doesn't really seem to actually be caring much about this news. Uh, it's uh, sitting at 97 bucks right now. it's off. Its lows. it's lows of 83 bucks. It's certainly performing better than Tesla in the pre-market Today Tesla is just like a straight down arrow. Uh, I mean like I had to remove the Fibonaccis because they just don't work. It's just just kidding there they are. Uh, but you could see that uh, obviously Tesla just continues to break lower. Uh, let's just. uh, it's it's kind of sad. let's just go ahead and hide that again. But uh, the trend here doesn't look very pretty. In fact. actually, let's bring that back. Let's delete all here. Let's see if we can draw just a nasty trend line here. Let's go from where we are now. What do we got? Oh wow, it's it's D See that the trend has slowed down a little bit. The downtrend. You can see it was very, very aggressive up here. right? Your your slope over here uh, was substantially higher than what you have here. In fact, you just come on. Weeble Weeble Here we go. Uh, so here you've got about a 43 degree slope. Uh, and and now you're at what pain of somewhere around 15 to 17. So so you've certainly slowed that that Crush over at uh uh at Tesla but it's it's still. uh, let's just put it this way, the trend right now is not your friend if you're long. Tesla Hey, but at least you have a misery company of uh, Dwac over here to act down two and a half percent. Which is really interesting that Dwack's down two and a half percent because you know this weekend Donald Trump kind of snubbed Elon Musk Elon Musk Reinstated Uh uh, you know Donald Trump based on a poll that Elon Musk ran and then of course, anybody who was upset about this poll just immediately suggests, come on. Elon how could you just use a poll when like maybe 80 of your followers or Bots like it's a raked poll. So now you. In a weird way, you have people on the left suggesting that polls are rigged because they don't want to see Donald Trump come back? Uh, but anyway. Elon Musk has been uh, tweeting some uh, you know, images of Temptation that Donald Trump might be facing uh, like for example, this one. uh yeah, there's Donald Trump trying to be, uh, trying to behave with stuff I suppose. Anyway, uh, kind of interesting. I I I'm surprised that Dwac is actually down on Donald Trump kind of snubbing coming back to Twitter Did you think that'd be good for your truth? Social, but uh, still down a couple percent. Then again, it's not a company I personally would invest in because I I think the they haven't uh, you know I want to see real financials? The good news is they've actually created the company. Uh, they've actually, uh, started running advertisements. You know, you could probably sell my pillow advertisements all day long on Truth Social. but uh, money losing businesses are generally not your friend in a recession, so be really interesting how things go with. uh, Dwac. Although I don't think that Dwac right now is trading on any sort of fundamentals. Um, we should also talk about Disney Let's just take a brief moment here and listen into what Jim Cramer's got to say just for a moment. Yeah, all right. So so if if a sound too low on that one, no credit. Oh really, you couldn't hear any of the Kramer Oh, hold on I know what that means. Hold on. Ah A. My audio is probably a million times better right now. Thank you for that. Uh, good catch. Yeah, my audio should be substantially better now and you should hear about five seconds of Jim Cramer right now for sure matters. It matters, especially in Hollywood But that said, all right. I Sat down with shape. Okay, so it should work now. Thank you. I Appreciate all of Yahu or channel members who chat here. Uh, let me just say this: I Want to talk a little bit about about Disney So I was just at uh Disney World in Florida specifically uh Epcot and I ran into some subscribers who worked at Disney uh and what was really funny is before this whole Bob and Bob transition happened, uh, I I was talking to employees there who were also subscribers shout out to you, thank you by the way and uh, they were telling me about essentially how frustrated they were that in Parks they are the profitable part of the business in in parks and experiences and that Bob Chapek is basically throwing the profitable part of the business into the unprofitable business of streaming and that traffic has this this obsession with chasing Netflix and oh, Netflix is going to start doing ads on on Netflix Okay, then fine. we'll start doing ads on Disney plus, you know and then have the lower tier subscription offer now. Disney Plus is a pretty good service I think yesterday uh I was watching on my way home from the airport I was watching Zombies 3 with Jack and uh, the app is phenomenal. The Disney Plus app is really, really good. Uh, but uh, there is definitely or has been a lot of frustration that I've seen from employees about how streaming cannibalizes profits at Disney and because the company is becoming less profitable and is missing expectations. now there are layoffs and the people on the profitable side are like what the hell Like, why are we getting quite often you know, like why are we love together here? So some frustrations there? Uh, you know the board yesterday announced uh, just as I was Landing the board yesterday announced that uh Bob Iger is coming back for a two-month contract I'm sorry A two-year contract Bob Iger is 71 years old. he was the CEO for Disney for 15 years. Uh, there's been some bitterness between Bob and Bob Lauren and I before we heard about this. As we were walking around Epcon and one of the Disney Resorts we were staying at Uh, we we were walking around and uh, it's so ironic that Bob Iger's back because I look at Lauren and I'm like you see that light right there and it was like a lantern by a bridge and it had three light bulbs in it and one of the light bulbs was broken and I Go! You think old Bob would let that light bulb be broken and Lauren's like there's no way old Bob would let that fly. knew Bob's messing up and I told Lauren when we landed. Oh my gosh, Bob new Bob just lost his job. She's like oh my gosh, it was the light bulb so uh, it kind of kind of weird timing but uh. anyway, there's there was tension between them. Uh, when Bob Chappick took over? Uh, you know he's been in his position for 11 months and they haven't really talked. Anytime you you have individuals like this not talking. there's the potential for resentment to build behind the scenes and it looks like Bob one Iger The original guy has been talking with the board and probably sold them a better Vision than what Bob Traffic was able to do. Uh, the don't get, don't say gay bill. that whole debacle that Disney went through. that certainly didn't help. uh Bob Chapek. So uh, you know some say he was too optimistic. uh, some say he was too focused on cutting costs by Bob Iger The first guy, you know he was the one who led the Acquisitions of C21 Century 21 Fox uh pixel Marvel uh you know he's he's got some pretty good like street cred over at Disney. So I think uh, any any hardship at Disney is just bad news for traffic and I think that's why he got the ax but it's really interesting. Mickey Mouse doesn't meet Kevin subscriber Uh yeah, uh yeah. So anyway, um, the Disney thing is quite interesting. Disney's actually moving decently on this news. Let me see this more earlier. It was up. It was up. Like let's say it was up. six percent or something. Oh, it's up nine percent right now. Look at that. so Disney present only have nine percent on uh old Bob coming back while at the same time, you've got the NASDAQ down about half a percent Break Even stable again. but again, these these rumors about more lockdowns in China and pain in China Certainly not going to help a company like Tesla I Also think Elon Musk really's got to chill out a little bit uh with with his aggressiveness on Twitter you know he's like over the weekend and I know some people believe it okay, like and it's fine. and when I say some people I mean there could be a lot there look eighty percent of you. Hey, maybe even me might believe that the New York Times is fake news. but come on Elon don't no, no, you know he's he's on Twitter Twitter claiming that the New York Times are liars and fake news and I'm like no, no, this is how you alienate advertisers. just just shut your mouth. be a CEO Oh well, what are you gonna do? Uh, most of the market at least on our sheet here. right? As you can see, you've got uh, pole star? wow pole? Stars No, these are the warrants. Okay, I Was gonna say Pollstar is not trading for a dollar. Uh, so this is just a warrants, never mind you know. I'm just gonna remove those. Uh, so Disney up 9.2 but otherwise you've got pain. Oh Carvana. Oh Carvana. Carvana. Carvana. Carvana. Carvana. It was one of those along with Schiff that, uh about like 18 months ago when when the used car shortage started. We're like you, you can't be in car sellers when there's a used car shortage. That's when I sold shift. Uh, and it makes sense like these companies kind of like Expi and Real Estate. or Redfin or Zillow they make money when you have lots of volume. It's not so much the spread. The spread matters right? Like the spread is the difference between what you buy something for what you sell it for. That's great. But generally these sorts of platforms. These websites. They make money based off of how much money uh, or how many transactions occur. When transactions go down, profit goes down. That's why red fins in the toilet zillow's you know, pained. Uh, you. You've got some problems. So um, Carvana's not getting any favors in the market right now. Carvana's uh, got some oopsy-doopsies Uh and uh again, the used car shortage isn't helping. But now that used car shortage has transitioned into a used car bubble pop where you kind of have Priceless plummeting on used cars and people are like I'm in no rush to buy it'll be cheaper next month. Kind of interesting and it'll also be interesting to see how much used car price is plummeting weighs on new car sales. So we'll see Steve Here says call out the BS I'm tired of fake news? Yeah and and that's fine you I Guess you just have to ask it is it Is there a potential risk to the CEO of SpaceX now Twitter and and Tesla neural link You know, is there a risk to that person? you know being a little bit extreme about their opinions uh or or be I should maybe shouldn't say extreme. Being vocal about their opinions is is that a risk? Yeah, it is. It's something. that and the reason it's a risk is really for shareholder value, right? Because institutions have to justify why they trust in management. And let's say you have some really wealthy Democrats who are invested in a hedge fund and that hedge fund invests in Tesla And those wealthy people like why the F: are you investing in that guy That guy's you know lost his marbles you know and that puts pressure on a hedge fund to sell. So um, politics is is a really powerful game. It's It's quite interesting, all right. So uh, I think people buying a used car don't have the luxury of waiting a month or two to buy. They need a car. Well sure. some. Some percentage. uh, that's always going to be true, right? Uh, some. There's going to be a group of people who have to buy a car no matter what. And then there are discretionary purchasers who maybe they've had a used car for seven years? They're like I don't need to upgrade but I might let's take a listen I Want to hear what this? JPM Dude's saying. let's listen in for a moment. Security Selection: Franco With the right manager selection that it makes sense to be an active manager right now in a way that it perhaps did not over the last few years. Michael What about your credit? You were talking about how private credit has seen perhaps an outsized number of defaults. How do we? How are we sure that the default cycle isn't going to be that deep in the public markets? How much conviction do you have around that, you know? I Actually think credit is in a decent spot over the the longer term? It's just sort of. Over the next three or six months, nine months of the earnings recession takes hold, and all these hikes start to. you know, be, uh, felt within the economy that they go through a rough patch. But on a whole Public Credit Markets are actually pretty healthy. I Mean, if you stress interest rates, if you stress earnings down pretty hard, they still hold up reasonably well from a historical basis. So I'm not expecting a huge default rate here. You know, a lot of the excesses have been rung out of the markets over the last several years between the global Financial crisis followed by the Energy crisis of 1516 and then of course Covid. and so I think default rates are likely to remain relatively muted. You know I mean I'm going to pull back here Yeah I mean I I wouldn't disagree I think I don't know that we're going to see a really heavy default style recession I think the recession is going to take longer than we all think it will, which is painful, but I I don't necessarily see this this. Insanity of the defaults. uh, whether it's in in real estate or or companies Uh, with the exception of course of the crypto space, which some argue that in the crypto space, the tightening we're seeing there is is an example of the FED tightening and the bankruptcies we're seeing. There is an example of Fed tightening actually taking effect, which I'll have a video coming out in about 35 minutes on the grayscale. Bitcoin Trust So you can, uh, take a peek at that. Um, you know somebody else makes this counter argument here, which is a fair counter argument. Uh, you, you could look at it the other way. uh Republican Hedge fund saying I Like him, let's buy Yeah I mean usually usually it's not so much how how it works, just solely because I mean sure, that could happen, but solely because you know hedge funds are trying to think about performance right? and they're like, oh crap. I mean a 50 of of left-leaning managers are like no, I don't want to buy Elon Musk's Twitter or or Tesla or whatever because he's too extreme. Well then then, even the ones who are agreeing with Elon are like oh yeah, okay, that's gonna make for a volatile stock. Let's let's be a little bit more careful. How are they still running Fortune Favors The Brave Ads? Are you gotta be kidding me? Crypto.com Still running Fortune favors The ads? Uh, favors the brave ads. It's remarkable. Remarkable. Um. Anyway, all right. So oh yeah, yeah yeah. we've got about six minutes to the Bell yields turning red. Now they were slightly green earlier, but slightly red now. A 10-year treasury yield down to 3.777 Uh, All right. what do we got here? Commercial real estate transactions have fallen off a cliff in recent months as interest rates have climbed and economic uncertainty has mounted. Well, yeah, I mean that. That doesn't really surprise me that cumber. Like why? why I just I Wanna somebody in the comments? Please let me know Why the hell would you buy real estate Right now? It makes zero sense. Zero sets. Now what's funny is I I Do I read the comments I Probably shouldn't but I was reading the comments and some people are like Kevin's pitching his zero to millionaire real estate course. This is the worst time to invest in real estate and it's like, okay, let's bisect this. Yes, I Agree. It's a bad time to invest in real estate right now, but guess what that means? It's the best time, probably to get educated to get ready to buy in real estate. Maybe I Gotta be a little bit more clear about how important that is, right? It's like people like, like, obviously I'm starting the real estate startup house act and some people like, oh, house hack, how how could you possibly invest in real estate Now that's a terrible vest but it's like ah, we're not you. You raise money so that when the market bottoms you can go shopping for Real Estate I Don't know. sometimes I think people pay like five percent attention and then they leave like a comment and then they leave. Fortunately I think that's the minority. Uh, anyway, oil oil down under 85 bucks for the first time since the end of September That's quite interesting. Uh, that's uh, but it looks like Brent's actually bobbing around. Now it's at 86 bucks so it's briefly under 85. There you've actually got WTI oil down to 78 and a lot of this is driven by China uh, coveted fears again, so we'll see what happens. Ah yeah, while I would be careful, investment real estate is actually doing well here in New Orleans Yeah, just be careful because the the trend right now not your friend. Let's see Redfin data center let's go look at New Orleans Still another fortune favors the the Brave ad I I cannot or bowl that? whatever. I Can't believe that crap. Uh, so let's see here. All right. So this is price drops everywhere. Let's just see if we can see. New Orleans Orleans There we go. New Orleans All right. So this is your level of price drops, which is obviously skyrocketed. Uh, we're at. You're an over eight percent listings with price drops. It's quite a bit. certainly more than historic Norms here. New prices, new price. Actually trying to trying to move up here. but what about Sale prices? Sale prices I Mean you're not doing two. You're actually. you're right. you're not doing terribly. 305 306 was kind of your top 279 now. So what is that? 306 279 is the new number divided by the old number it gets you. I Mean you did drop about nine percent. Uh, but that doesn't mean you still can't get some cash flows. so that's cool. That's good again. Trend Not necessarily your friend here, but that's right. All right. Uh uh. it looks like an oil is also falling on a new OPEC Report that production is increasing. That's interesting I'd Buy a house now because effort my rent is insane. Uh uh yeah, You're right. You're right. Gotta stop reading the comments. Don't let it affect your mood. Looking for a purple day? Interesting? Fortune favors bankruptcy? That's a good one. Uh, Toll Brothers in Vegas Just slashed their prices by 15 percent. Vegas is one of those markets that you know and I've got I've got I've got some uh, great connections in Vegas Uh, some wonderful people out there. but um, Vegas is one of those markets including Florida that got devastated in 08. It was just one of those markets that people really went in to speculate on. and uh, that was problematic when you had a lot of spec. Um, in uh, in those areas, they really had a lot more pain. Okay, Tesla's probably about to make a year low on at the opening bell here, coming in at probably 175.81 Uh, by the way, I want to invite you to uh New York December 9th. Stay tuned for more details, but we're going to do a meet up December 9th right around 4 P.M by the New York Stock Exchange from for between 4 and 4 30 somewhere around there, so be kind of cool. Anyway, let's go ahead and listen in to the open. Zing Bell We haven't done this in a while together. so uh, cheers because this is coffee of course. no and David that last quarter that was a defeat. That was a defeat s with it. Keep in mind the more you see this sort of, uh, the entire Market moving together and this is an interesting concept. Like you really have to think about what I'm saying on this one. the more the market moves together in One Direction the more likely that direction is down. the more you have certain sectors moving up and some sectors moving down. so sort of like a Divergence the more the market tends to actually move up. it's a it's a really weird thing. just kind of like this green Candlestick at Tesla the dip buying happening is weird, you know. Oh my gosh, we're going to the boom baby. look at those candlesticks. Oh we just recovered a whole half percent. Pump it baby! Uh anyway the um I'm really getting made fun of for Tesla right now because I said that Tesla is is recession resilient. uh I I Don't want you to think that I have like a a mental problem in saying that I still think that's true I think that the majority of the suffering for Tesla stock has been the result of a Elon selling B Elon going nuts on Twitter saying stupid and three, uh, the premise that he will continue to sell Tesla to prop up Twitter Okay that that's why I think you have pain here because EPS is going to we expect do extremely well next year as other companies cut their earnings Tesla earnings should explode next year should. So I think the original thesis is intact. it's just really muddied by Twitter like any money you've lost on Tesla this year has gone to propping up Twitter and if you didn't invest in Twitter then you just gave that to people who are investing in Twitter something just to keep in mind a lot of action there on that Candlestick today. Anyway, let's look at Disney over here bobbing around uh hahaha that's a knee slapper. Disney stock is bobbing around. um up about eight and a half percent. How bad do you think that CEO feels right now? Uh, like the guy who got fired right? The new guy like imagine getting fired and then the stock you got fired from rallies the day after you get fired. like that's just got to be the biggest middle finger of your life. Like that guy if he's watching this live stream. dude like take some shots of tequila or something. Okay, it's okay. It doesn't mean you have a problem. Well, I mean you have some problems, but doesn't mean you're having a bad day. Okay um. anyway so look at this: Occidental uh petroleum, uh uh down four percent. Moving right down there with the oil market and Marathon digital. uh Marathon digital Marathon Oil moving down uh with the oil Market as well Roku AMC uh how's AMC doing AMC is at seven bucks 37 cents. How's that a p e Everyone got so mad at me when I said sell it at eight dollars oh God it's a dollar 32. it's almost. It has it gone under a dollar yet? No, it went to a buck 25. oh I'm such an for having said sell it at eight dollars sorry I ain't living that one down I got so much hate uh that buying pressure by the way on Tesla did not last Tesla Oh god oh um um Tesla now down almost three and a half percent, some really juicy red candlesticks just just plummeting plummeting I mean this is what poverty feels like. Okay, okay, that's an insult to Poverty But anyway, uh, dwac down about five percent. All right, interesting day. Carvana is obviously getting wrecked Neo uh, you know, Matterport gosh Matterport down another four percent. I'm actually skeptical. So I went through the Matterport earnings report and I said this on with to course members in the course member live stream. which uh, we'll be doing after this live stream, we'll be going into the course member live stream. we talked about. uh uh, you know Matterport potentially having some big numbers because of iPhone users coming in for the iPhone app. but but I thought that was potentially a lot of one-time movement I'm not as optimistic about the near term for Matterport as I am for them. about the long term long term a long-term uh, more so. but but I'm not in metaphor. so Goldman predicting 2023 is going to be worse than 2022. yeah Goldman can go suck it them in their food. Uh yeah Steve says I took Michael Saylor's advice and re-mortgaged my house to buy. Bitcoin My interest rate went from 2.5 to 6 of my Bitcoin went from 30 to 16.

buy gold. You know Gold's actually been popping off a little bit because of, uh, the uh dollar starting to falter slightly. and so as the dollar falters. uh, you know, relatively gold looks more appreciable. it's listening to Bloomberg for a moment. pessimistic and doomsday driven, it's likely a sign. we are bottoming out. I Am pleased to say Sylvia joins us now. So how strong is that Conviction that you feel like all right people are so gloomy? So do me, that's a screaming Buy Signal hi Lisa So I I Don't think that it's necessarily a screaming Buy Signal In terms of a short-term, you know, turnaround and and you know, major profit opportunity. But I do think that the market is going to kind of stay where it is. and even with the most bearish analyst that you just referenced Mike Wilson and Goldman Sachs talking about 4 000, that means that we get range bound volatility probably between now and then. So you're going to get these bursts and perhaps these short-term opportunities. You'll get these pullbacks, but the market is unlikely to sort of fall. You know, further out for the next year. What? I think in terms of this Market is that it's a great opportunity to dollar cost average and for those investors who have time Horizons Beyond 2023 because we talked about all the things that happen Okay I Hate to do this, but can I put into context who this person is now I Get it. This is the danger of having an ETF I get it? I Really get. But there are two problems here. Problem number one is that's the wrong screen problem. Number one is, uh, this is that ETF or the company I believe Defiance digital. They have an an ETF called Nft Z So like Nfts, the suckers down from like 24 bucks when it launched to five dollars and 23 cents. and it's net asset value I believe If I'm reading this correctly is 5.25 million dollars. So very very very very low. Uh uh. all right I mean like I get it? things are down. But dude, an Nft ETF I don't know, man, it's it's not. It's not the bet that I would be making. All right I Promised fiscal year 24 would be that year. probably just changes. they still, we still don't know. The ultimate problems is this: we're not going to run for just willy-nilly growth. We're gonna charge more. We're going to make it so it's children friendly, right? They already have raised price. They do have the ad tier that's just begun, right? The ads here could be very good. It could be more of a Netflix model. You've got the theme parks How about. If he says you're gonna make fun of me and you know what? I don't care because I was right last week, so go ahead. How about saying that the the part the department that Chapek ran and knew so well was the one that should have expanded in the same way. The network that we work for Comcast they should be spanning theme parks. So okay, that argument right there from Jim Cramer is actually really smart. Disney makes a crap load of money at the theme parks Disney Cruises are like the most expensive cruises that exist next to like a Ritz Carlton Cruise which you could go on for like seven to twenty five thousand dollars hashtag not sponsored. You know, who knows. Ritz Carlton could go bankrupt. Uh, anyway, so um, that's not a bad idea is expanding the parks because that's when you get people to buy stuff they don't need. That's when they spend like twenty dollars on a sodi bottle that they ain't gonna use again in their lives. Or you know, 25 for a baseball cat I I Don't know. It's like the margins on the stuff they sell at the parks is so hot and and people are spending more than ever before. about 50 more per cap. you know, per person. It's remarkable. Well, so I'm surprised they're spending so much time on. Disney Yeah, need to Disney in Texas I mean what if they did like I don't know smaller theme parks or more rolly coasters, you know I don't know I was when I was at Epcot and I'm like man I wish I was at Islands of Adventure So I can actually go have some fun? Um they. also you know another thing they got to do is they got to figure out the lines. Dear Disney Nobody wants to go to Epcot and wait 30 minutes in line at every country's food booth just to try the damn food. That's dumb. The lines are way too freaking long or at least or like sell a freaking fast pass like hey, the the Japanese hot dog. Not that they're selling hot dogs, but the Japanese hot dog is five dollars if you want to wait in 30 minute line. or it's ten dollars if you want to get it now. Okay, you know I don't know. Um, you know Taylor Swift should do that too. You want to get your ticket now. it's it's five times the cost you want to wait on in the Ticketmaster queue. All right, it's it's 80 bucks you know I mean like I'd rather pay the 5x and then not have to deal with the scalpers and all the bull crap and the times. again, not everybody can and sometimes you just have to pay with your time. You know that's that's what happens when there are shortages. When there are shortages, you pay with your time. You pay in other ways. that's that's economics 101. But golly, if I ever suggest that Taylor Swift razor prices do I get bitched at on Twitter or in the comments. oh my gosh, the Swifties. Uh, you know I feel like I'm a little bit of a Swifty too Lauren's definitely a Swifty uh but raise the damn price or have more concerts. which I mean she is announcing but it's just a freaking disaster. Um yeah I saw that 94 000 tickets for Taylor Swift Yeah, it's it's it's it's insane. Uh, when do you think people will spend less money? Yeah, that's actually a really good question. So one of the things you're seeing uh Trend wise right now is you're seeing credit card spending explode. So uh, the Federal Reserve just released uh, new data on this just last week. and uh, credit card spending is now back on Trend with pre-pandemic levels. So it it just skyrocketed up. and uh, household debt is increasing, household savings are decreasing, and while they're still there and robust, there's this belief that consumers are on mostly borrowed time. I Believe that when do I think that ends? probably next year, especially if housing values continue to Trend down. I Think people are going to go ah crap, this is lasting longer. you know than we thought it would. This sucks. Um, you know we need to cut back. Uh, and that's that's scary, you know, Because then it's like okay, well now EPS is really going to get hit. Uh I Hear stop I can't read that out loud. You mean supply and demand curve is applicable in everyday life? Imagine that. Uh yeah. so um, wow. look at that. Google actually going positive after this talk about uh, potentially cutting commissions for uh for for their sales. Now one of the things you have to remember about uh Google is uh there. There's a lot of pressure right now. Uh, that. um Google cut jobs actually across the board in tech jobs need to get cut is thesis and one of the things to know and and this sounds so brutal I remember saying it during the pandemic, but it's true. One of the things to remember is that uh, yes, there is a 60 off coupon code linked down below that expires Friday It's the biggest coupon code we've had and uh, you know you get lifetime access to the program. So oh, sorry, wrong line here. One of the things to remember is that during recessions, companies actually become generally substantially more efficient because they they do cut the fat. It's actually necessary, like it's It's kind of like a hurricane going through an area and and you know, blowing away all the crap. all the old stuff, uh, it's it's a way to to get rid of the slush so to speak. And that's not saying. I You know I want people to lose their jobs or people that die in hurricanes right? Uh, but uh, it's It's a very natural process so the biggest. the biggest thing that you want to do when a recession is survive. You know, figure out how can you make more money and and then survive. That's the biggest deal. Uh, speaking of surviving, uh I appreciate you hanging out with me for the market open live stream I Don't know you could leave me a comment to let me know if if you enjoyed it I have to go to the course member live stream and somehow make myself another coffee within the next 60 seconds. So I will see you all later I Don't know, maybe for the close, but anyway, enjoy your open and cough I mean yeah, whatever's in your mug. bye.