Foreign. Oh, has this whole thing been on mute this whole time? Are you serious? Jeez. And you guys have all been messaging me for seven minutes. That's embarrassing. That's funny and kind of embarrassing. Oh man, come on man, that's sad. Oh man. Well, good morning. Let's let the coffee sink in in seven minutes. Don't worry, what's what's seven minutes? You know what? I could probably recap the entire seven minutes in three and a half. You ready for this? Let's go. So what I talked about was how CPI is calculated and Best Buy CPI is calculated using uh, the last or dividing a month into three equal periods of generally 10 days and then taking snapshots of the price of oil. And what we're really hoping for is that when we look at the price of oil, we get a low snapshot of Core. That's what we're looking for. We want a low snapshot or sorry, not of Core, but we want a low snapshot coming in here in this third week so we could hopefully drag down all inflation. uh, especially headline inflation. That's what we're looking for. most of. October A pricing sat between 90 to 95. now in November we actually sat higher at the beginning of November which is not ideal. See, we sat and we sat a little high over here at the beginning of October but not as high as we did in November. So you have a little bit of a high, a little bit of a low. well. we really need to balance out Energy prices down to get that CPI read coming in lower next month is oil to stay down. Unfortunately, you've got these rumors that are just not becoming substantiated that OPEC might increase production. but then OPEC say no in Saudi Arabia are like no, we're not going to increase production and and you've got this drive to not increase oil production right now because oil and gas prices are very high and that leads to a lot of profitability for the oil companies. Obviously anything over 60 dollars per barrel and these folks are paying down debt, they're doing stock. Uh, BuyBacks Um, it's It's really, really incredible. They uh, the oil companies have been the cheapest hedge in all of 2023 and in all of 2022. That is now. the thing to know about oil is we like to say oh well, Inflation? You know we could just look at CPI minus oil and then we get a read on what inflation is without energy costs, right? But it's actually not really correct because if you think about it, oil and gas prices keep heaters on at retail stores, they go into the freight costs, they go into the manufacturing costs for Plastics and PVC and building they go into everything. So when oil and gas prices Skyrocket they don't just make energy costs more expensive, they make everything more expensive. and we have these really weird, uh, sort of outcomes that we're getting from earnings where on one hand you're like oh uh, Home Depot and Lowe's had a great quarter, but we're starting to see cracks in the consumer and then you have Target That's like this sucks. We're seeing lots of cracks in the consumer and they're borrowing a lot more than usual. And then you have Best Buy coming out and suggesting oh uh. You know we're actually going to maintain guidance because we think people, even though we might be. You know, walking into an earnings recession here and our earnings and our EPS is is negative year over year. Uh, we think people want more joy. Uh, in in their 2022 and the holiday shopping season has begun and now more than ever customers are looking to bring joy back to their celebrations. Well, so and then they're reaffirming guidance and and the Stock's up like nine percent. So you really have this interesting split of consumers and this is actually making the Federal Reserves life very difficult. You know it's it's really the FED who's trying to parse all of this data and how they break this apart to say oh yeah, the consumer's weakening oh no, the consumer is not is really quite remarkable, and we've got a pretty gloomy stock market. Uh, consumer sentiment is pretty gloomy. The stock market is pretty gloomy. Outlook is pretty gloomy. Everyone's pretty sad. So seeing Best Buy with an upbeat earnings report really a shocker. Now you know it was interesting. I remember being a and I I Thought about this too the other day. I'm like ah, you know I know we can look at like Target or Walmart for Consumer Electronic sales but when I was a kid uh, like seven, eight nine would I ever actually go to Target or Walmart to buy Electronics no I would. if I happen to be a Target or Walmart I would go to the store and look at the electronics. Sure because the rest of the stuff in the store is boring, but if I wanted to buy Electronics I'd go to CompUSA with my dad or Circuit City until both of those companies went bankrupt and the only choice left was the crappy customer service at Best Buy which they've gotten better In Fairness. but like that's where you go to get your electronics and it's really kind of interesting. Uh, that even though last quarter PC sales were down 19 year over year and Target and Walmart are complaining that electronic sales are weak Best Buy comes in with an upbeat report suggesting that operating income will be slightly higher towards the end of the year than what they projected beforehand. They also said and I know this is weird. Uh, because you know, obviously 2021 is like an incredible year to confidence and like you can't really compare to 2021 and say oh yeah, earnings are supposed to be as good as they were in 2021. Best Buy actually reduced how much they think their sales Will Follow by year over year when you look at the fourth quarter uh, from negative 11 to negative 10 percent remarkable. And it really is this like wake up, call that, wait a minute. Like is it really that bad out there and I think that's one of the things that's so frustrating right now is it does seem everything does seem so gloomy. but when we when we take out just the inflation narrative and well, really mostly that I mean obviously you have war in uh Ukraine uh, that does, uh, that obviously does contribute to inflation. so that's I'm just looping this into the inflation narrative. Uh, and of course it's it's terrible, the tragedy that's happening, but uh, with loss Alive Life on both sides. But when you take that out, if you, if you get rid of inflation, are things really that bad? and and no, they're not. uh, you know I mean retail is still hiring like crazy. Travel is hiring like crazy. Sure, we're seeing the TSA number start softening, but they're not. You know they're not exploding like they were. Uh in in 2021? I mean obviously because we're coming out of a hole, but consumer's still alive and well. uh, across the board. uh, with the exception of certain weak spots and it's just so fascinating. Um, a lot of folks believe that the consumer has to fully roll over before we can actually get uh inflation to fully come down. and I think the reality is, nobody knows like the FED has no freaking idea and I don't think anybody knows uh, what's going to happen. We're just looking at any potential leading indicators that we can uh, that that give us insights. whether it's freight costs plummeting. Uh, let's look at the I'm. gonna look at the commodity index. Uh, let's look at that and break evens, break evens are so nice because they kind of like consolidate all of these expectations. Well, we should also look at the FED terminal rate. All right, let's look at a couple things here. So Commodity Index I Love this thing. You could just Google like Bloomberg commodity Index right? And you'll get it. But then you don't have to look at the noise of the uh, the individual commodity reports. Let's turn into a disaster. All right, Here we go. Uh, and action. So this is your Commodities index and it's a little frustrating that Commodities are actually a little higher compared to October Uh, you know we're not really escaping the highs of October right by running up, but we're also not running down. We're kind of just trading sideways on on these commodities now. they're obviously well down from the summer, which is phenomenal. And and do remember also that uh, the Commodities index is something that affects your PPI much more than it affects CPI that's the producer Price Index But you know we had a nice PPI report last week. while it was on that cruise. I was really happy about that. Uh, you know those were two solid disinflationary reports in a row. but it'd be nice to see this calm index actually fall a little bit more. But again, hope is not an investing strategy. Oh man, it's sad. So what how are we doing on Terminal rate Yesterday we were like 5.1 Terminal rate today is Oh God 5.2 All right. Well, um, that probably explained some of the red we saw yesterday. Since we have Futures somewhat up today, how about five year break? Even so, 5.2 for a terminal rate? that's certainly above the 4.6 we had before. but at least it's not. You know, six that then the stock market would just have to like down again. See the break evens. We're just having trouble keeping these suckers down and it's probably a lot of this probably has to do with uh, opium over oil. You know, oil prices were falling and now they're not. And and so you're seeing the break-evens instantly. Almost. You know, same day react to oil prices now. Uh, so you know coming back up again. So what do you have over here on the bottom right? You know we had this fall after Jerome Powell's hawkishness and what do we have now? only got a little bit of that trig take up again. Now this is obviously a volatile measure. I Mean you look on the the regular basis here. I mean you get these little ups and downs. It's really the trend that you're worried about. See how? Here we had an uptrend. We really enjoyed this downtrend over here, but it ended up turning into a bad CPI report for September Uh, which report obviously we got here in October and that led to, uh, some real fears. Uh oh Black Friday is going to be interesting as well. I mean last year's Black Friday was crazy I mean I know at this point you all know there's a 60 off coupon code for Black Friday that that for the sale that we're doing. We're also starting that uh, large trading Challenge on Monday Five Million Trading challenge Uh, so that'll be really fun. Uh, my goal is really to have some trades every single day and uh, it's gonna be fun I Think we're gonna do the the lowest risk uh, style of trading. uh I've got plenty of ideas for exactly how to pull that off so we'll see it'll be fun. Let's listen to Jimbo for a sec let's see what he's saying and now it's it's unchanged I Think that there must be some people who think that the inventory cycle is further along and my my information to them is you are wishfully thinking there's still a tremendous you know what? Lisa Sue said we're not through Jensen Wong from Nvidia they said listen, we're not through the inventory cycle, it's going to be till the end of the year. that's more gaming. but these companies all have including Intel Way too much and they'd love for you to think that they don't. But the real when you drill down with them, they do. They have too much inventory. The other thing Best Buy said this morning was they're seeing a rise in use of credit as consumers savings dwindle. Jim Bloomberg has got some work on these seven quarters of real excess income is basically done. Done Yeah and I believe that. I I Think that one of the things that I want the FED to recognize is that the last of the child credit has been laughing. Child credit was very big. So now there is no new money coming in. You're starting to see people buy less. Uh, there's been some trade now though it didn't seem to send my favorite store Dollar Tree although I and yet Dollar Tree wasn't really expensive banking out. But really, who are the stars? Well, the stars of this you know. One thing that is interesting is this idea that people keep borrowing. Uh, and regarding the inventory comment, you know Best Buy has actually seen their inventories go down. This is actually quite remarkable. Year over year, most companies have an increase in inventory. Best Buy does not seem to have that issue. Best Buy actually had a reduction of inventory. If I go 7294 always divide the new number by the old number you get, That's about a 15.7 percent decline in inventories. That's remarkable. Minus 15.7 in inventories at Best Buy Uh, and they didn't go shopping for inventories as much. Look at that. they they more than halved their purchases of uh, inventory halved purchases of inventory. That's remarkable because you know we saw Target talking about uh, some inventory coming in a little, uh, earlier than expected. and I'm having to deal with the logistics personally. By the way, I'm not the biggest fan of investing in these. All of these like fulfillment companies. Uh, I Hate to say it. but I think the Shopify fulfillment Network the Amazon Fulfillment Network the target fulfillment Network I think the the Walmart fulfillment Network I Hate to say but I think these are all. Uh, all of those fulfillment networks are in a race to, uh, spend as much money as possible to undercut each other. Because really, if you think about it, delivery is a commodity. Uh, you know that's not to say you know FedEx and and Ups are bad, but those are all obviously also fulfillment networks. The difference is, they have established fulfillment networks and they produce decent cash flow. You look at Amazon Shopify Walmart Target They're really still building out their fulfillment networks and they're spending insane amounts of money. and there's no freaking difference. Zero between 24 hour shipping with Amazon 24-hour shipping with Target or 24-hour shipping with Walmart. There's also no difference between six hour delivery between all all three of those, right? There's no difference. So these companies have to invest insane amounts of money and to constantly trying to become faster. That's the only way they can differentiate themselves is by becoming faster. The problem with that is it's a really expensive Endeavor It's extremely expensive to try to make your fulfillment faster and better and to actually differentiate yourself. And so I just personally cannot invest in these fulfillment companies because I think they just they're just going to burn money forever. Uh, so you know Shopify Target Walmart Amazon Sorry, it's just not revolutionary. You know, because what's going to happen is the next thing they're going to do is after they figure out how to do local fulfillment and they start getting to like you know, like two-hour delivery which you kind of already have with like the local contractor, networks and stuff. The next thing is going to be the Drone Networks and and that's going to be insanely expensive you know? and then after that they're going to start investing in teleportation. you know, portals I don't know, uh it's it's just I I don't see that ever that expense ever going away. uh and it's not something like I'm not. You know if if I want you know um uh a Bose flight simulator pedal thing. The first thing I'm going to do is I'm going to order it from which company has it and the second thing is going to be which one's going to get to be the fastest I Don't really care who holds the box? that's gonna be interesting. Uh uh. let's see. Um, all right. Macy's doesn't have an inventory issue either. Oh, that's interesting. Uh, let's see what is this? uh uh Jay What are you talking about? Uh, tattoo Chef is only a dollar ninety three above my price Target No way. Who remembers my price? Target that's oh my gosh. that's really hilarious that you remember that I'm really impressed. That's super cool. Yeah I I man I Remember the days that the tattooed Chef price Target I lost it with their marketing I mean there was a brief period of time, you know? I did some trading in that. but when when when they came out with their marketing strategy I'm like there's no way, there's no way, no way. Uh, and and that's when I I just I I lost it Well, and then you also had red flags like increasing advertising expense with a decreasing rate of Revenue growth. That's a bad sign. That's just a sign that what you're doing is failing. It's one of the things that's actually keeping me a little bit away from the cruise lines. Is this this problem of uh, the the the cruise lines are in the Caribbean they're doing great I mean they're over 100 loads, but they're They're really trying to expand to a new audience. Uh, new customers with new advertising methods and I I don't know how it's going to play out, you know I I Hate it when companies are like oh, we're gonna try something new because I'll tell you as the number one flip-flop guy, You know, we kind of we need one of those tick tocks. that's like number One guy. We he does. He do that. Yeah anyway so um, as number one flip-flop guy, let me tell you, as a business, the most important thing that you can do is try new things. and if it don't work, flip like ASAP you flip so important you must flip and so when companies and earnings calls are like oh yeah, we're gonna try this new thing. I'm like there's a high likelihood it's going to fail and you better flip out fast. Yeah yeah, Disney did some flip-flopping. Uh oh yeah, self-driving becomes a thing I could see. Yeah, that'll be interesting dominoes. uh people ordering pizza World Cup Stock Interesting. Uh Dominoes Dominoes With the is self-driving cars idea in the future is very interesting. Uh, you know the idea of just walk out and grab it I mean I wouldn't mind that. Uh I I Think that's like I'm totally fine. You have to walk to your door anyway. so why not just walk to your curb right? So you got a shout out in the Wall Street Journal Yeah, I actually I actually really like the Wall Street Journal Um, they uh I think they do a pretty decent job I Also get them in print. Um, you worked at Circuit City and even Radio Shack Wow, that's so cool. The microphone oh that's awesome you know I wanted when I was a kid I wanted nothing more than to work at GameStop that was my dream to work at GameStop I and I I must have applied like 17 times. Uh I they just never hired me. Maybe because every time they tried calling me I was playing games, but you know, who knows. Oh well, all right, let's see what else is going on we've got. uh Finland Okay, well that's not really news. Let's see what we have here. So we have. yeah, oil price is going to be a big deal to watch today. I Think that's going to be really interesting treasury bonds kind of stable the last few days I Was really expecting them to continue to fall after PPI but no, they've been really stable and you do still have a lot of real estate market fears. Uh, you know I I Don't want to ever make it seem like I'm beating a dead horse here, but I'm just curious. like leave me a comment or something. Say something if if you're you're not convinced that there's going to be an opportunity to buy some real estate coming up like I Feel like hey, can we come to an agreement that that we're pretty much on the same page that? yeah, there's there's going to be an opportunity to buy real estate here in in 2023 for something like that. I I Find it very interesting. Um, you know there are a lot of perspectives. Of course you have countries like Canada that are doing a lot worse because they don't have the 15 to 30 year fix like we do here. but they do have 10 to 20s. So I'm actually really surprised at some of the falls that we've seen in uh in Canadian real estate Abercrombie soars after better than expected sales forecasts. This is really interesting to me. These these beats that we're getting. you know, even Zoom wasn't fat bad, it just wasn't that bad. Uh, you know sure Enterprise spent expected to be slower, but but Abercrombie right now up 20 pre-market It's insane. All right, we got the bell in 15 seconds I got a yes over here. Literally everyone I know says they want to buy Zoom seems like there's too much demand. Yeah, that's possible. All right, let's let's hit that. Bell here. exchange of the big board is David and Jim said it is going to start the EV car maker celebrating the start of the production of his sister Ocean Model, a Fintech company Works modeled outside the exchange this morning after GM brought some which is here. Why is Fisker there? uh and why is he wearing white gloves? It's it like what weird look at that Mr Fisker with the white gloves he's yeah, he's like a Dr Seuss or something. That's just weird. anyway. Abercrombie can't keep it up, you know I realized I'm actually not in the most ideal Corner anymore if we go to Weeble uh which of course next to the link for my coupon code down below. actually there's not even a link down below down below anymore. Am I allowed to say go to Metcaven.com Weeble to get like 12 free stocks or whatever it currently is or is that like, Is that like outlawed? Now are we? are we not doing any pictures anymore after the FTX disaster? Uh Zoom Seven percent. To the downside, you know the end I mentioned before the earnings yesterday the one thing that would make or break then was Enterprise But the concern that I had was how many people, how many companies are actually spending on uh, companies going back to more? Back to the office and and more zoom rooms right? The zoom rooms are where they really make the money. Uh, you know anybody who needs Zoom has already signed up for Zoom I that reminds me I gotta cancel my zoom everybody else has Zoom What do I need Zoom for I Want to save that whatever it is 20 bucks a month or whatever I love canceling subscriptions? You know the dumbest thing I probably ever did was when when we launched the Elite Hustlers course I did it with a monthly fee. uh and come on man, there's nobody on YouTube who talks more about cutting monthly fees than Kevin like in every course I have and and many of the videos that I've made on uh on on. Uh, you know, building your wealth like lower your monthly fees. so uh, anyway, of course I u-turned on that quickly. uh, you all made that very clear and I appreciate that so thank you. So Etsy is actually up on this on this the consumer optimism you know Etsy was like 70 bucks not that long ago. It's at 117 now so you're actually starting. Yeah, and we can move these Fibs around here. Uh, but you're actually starting to see, uh, some of these, uh, these these moves where if if you actually look, there are actually some stocks that are doing have done decently over the last uh uh, you know, a few months since the summer. it's uh, it's quite fascinating. the consumer just not as terrible as expected. Coinbase being up 4.6 today is kind of interesting. even. Zoom is trying to go back to a positive direction here from Negative Seven Up Now Robin Hood down uh, Matterport so far down a percent, you know Sofi Had a little scare there about FTX exposure and crypto lending. They had come out yesterday with a statement indicating no, no, we're fine, we're fine. Everything's okay over here. Uh, fascinating. Here's QQQ for you. Looks like it's trying to go red at the open. Take a peek over here to Jimbo Let's see what we got and it is still regarded as a yes coded play I was just reading uh, Bfa's uh, best note about their comments about stock supplemental Brands which they continue to have to pay to employees to keep them motivated quickly. Mention here: retail sales numbers annual Us Holiday sales adjusted in for inflation are poised to fall U.S Retailers face a rough holiday season as soaring inflation forces consumers to choose Essentials over discretionary purchases. Well, yeah, I mean and then obviously we're expecting a little bit of a negative. but again, like is that really a surprise that we expect to be negative with retail sales year over year. No like old news because they are focused on that right now I Figured you had somebody have an ongoing interest in that story Yes I mean like a fake news? no I have not been breaking news on CRM and starboard? Why? What? Is there something? You know that I that I don't but you might have something I don't should I Are you going to use the LNO fried uh, onions for the from the can for Thanksgiving Like we were taught, the answers like we were taught. See, that means that we were humbled. You know, you know it's a slow news day when they're just talking about nonsense like this. Uh, look. I I Think the the biggest thing between now and really next month is that next CPI report. That's what everybody's on because we've played this game too many times. We've played this game too many times where we end up having one good inflation report and everybody cheers and everybody thinks we're going to the Moon forever again. and then we buy the dip and we get screwed. Okay, that that has happened. but March it happened in the summer. uh and and this could be the third time. So uh uh oops, I'm linking the wrong thing here the the next I Wouldn't be surprised as a result of this that over the next uh few weeks we actually trade sideways and into that CPI report. we trade down. Uh, that CPI report is probably going to be something where markets trade down right before it because there should be so much fear that we're gonna get rug pulled again. On the flip side, some folks are actually suggesting now that maybe inflation comes in so low that the FED does the total opposite on us. like Uno reverses us and they actually don't raise rates at all. I Mean that's crazy I I I Can't see that happening. but uh I will I will look at the odds. let's look at the odds. Ah, thanks for saying smash the like button. It's free. Okay the the betting. Market Well the Futures Market does not price in a zero percent rate hike at all. Uh, instead we're pricing in a 75 chance of a 25 basis point hike and a 24 Chance sorry a 75 chance of a 50 basis point height 24 Chance of a 75er. So you're not even seeing 25 BPS get priced in. But what I've noticed about the Futures market is when a new report comes out, the Futures market like instantly changes. It's remarkable how quickly the numbers change and all of a sudden you can start pricing in 100 basis points or zero. So the next CPI report is going to be even more fun than the November one solely because of this this belief of okay, is this it is this gonna be a trend or you know, back to pain. Uh, unfortunately this year if you had all year just been bearish, you've been waiting. Uh, the more bearish you've been this year you've been winning. That'll change at some point Bitcoin back over 16 000 did drop to about 15 461. Uh, you had a lot of fear yesterday obviously about um Genesis the potential bankruptcy for Genesis uh which I think is very, uh, likely you know they're looking to raise a billion dollars. Of course they came out and they're like no, no, it's not true, We're not going to go bankrupt and everybody in the crypto space is like we've heard that before. you know Tony says Hey Kevin our time Tao Town: Our town had a gold mine operating here. It's huge. Had top five in States I Believe Do you think the housing market will crash as much as a town or city that doesn't have a gold mine? Well so I'm assuming that you still have it. But anyway, the the point is I like to look at a few things when I look at cities for for Real Estate I need multiple multiple Industries uh Because unless I know how much gold is left in that mine. That company at any point could pack its bags and go to a different mine and then your town if the only thing it's propped up by is that gold mine turns into a ghost town. Fast. Like you want to see ghost towns created take out all the jobs. Ghost Town Confirmed it's bad. So I like to invest in areas that have multiple uh, core, uh, job attractors or or natural reasons for living there. For example, uh I believe that there's a there's the exception of jobs that you have I think there's little reason to live in the deserts of California because why the hell would you live in California and pay the taxes here If you could just have the same desert in Vegas or Nevada Uh, of course again, some areas have jobs like there is still a remaining oil industry in a lot of our deserts. uh, whereas you know, but otherwise if there was no oil left, you leave and then those areas become ghost towns and and you have bankrupt Towns Now you look at an area like Southern California coastline that area Southern California Coastline unless it breaks apart and then becomes a fancy Island which we got a mechanical too unlikely. Uh, anyway. Southern California will always have a natural draw to it. even with no jobs because of the weather, it's the only place in the country you can get the Shopper all climate. the Mediterranean climate. Uh, seven percent of the world. That's it. So now if you if you're in an area that has a natural climate draw or other jobs hey sure you know, fine then then that's great. But if your only source of jobs is a gold mine, you know I I Diversify is what I would personally be thinking about. Now to your question, like does does an area with a gold mine do better or worse in a housing crash? Uh I Don't actually think this housing crash is going to be that terrible? Uh I think you know we can see 15 to 25 declines. but I mean we're coming off some crazy eye numbers I Think that uh, this isn't going to be the Catalyst to lead towns to go bankrupt like what we saw in 2008. Uh uh, you know I think probably the entire country is more likely to just move together. It's kind of like the ocean is just getting some water drained out of it. Uh, that's that's more of my thesis. So I don't know that there would be any particular difference. Yeah there. So uh. anyway. all right. So uh, what do we have here? Well Market I mean you just. you can't trust Tesla more than you can throw it. which is not very far. The thing goes red every single day. So if you want to print money with puts you just you just buy puts on Tesla Uh Marco says. My intuition tells me there's a lot of dovish commentary for the uh fed minutes coming out tomorrow. Well, that'll be interesting. My family's been living in the desert for California for many decades. Oh, I knew this. Yeah, I knew that and I wanted to talk about something relatable. All right. Disney's giving up some of its uh. Joy you do with the minutes coming out tomorrow. It does make sense that markets would be tenuous today. Uh, I mean look at this, you. you can't You can't keep the stock market up. That's not right. It'll pass, But there's also very little liquidity right now and there's very little enthusiasm to actually buy. Yeah, we should be going into the end of the year with some of the lowest volumes as well, so we'll see what. That's certainly what's happening in the Bond market. We'll see what happens in stocks and also sit in over here for a while. Then she left right. Meanwhile, Axios has a piece out this morning saying that on the edges, the core infrastructure is beginning to degrade. a bit more reports of outages. uh, copyrighted video up for hours when it shouldn't have been things like that. so we'll look for signs of well. okay. look. I remember I'm banking with him. you're you're I'm sorry you're believing him I'm a Believer Well okay, there's Legions of Believers For obvious reasons, it wasn't doing well before he took it. it was not I think he paid too much I don't think he didn't if he could have gotten it for half. Yes, he may have may still have been too much. meanwhile. Tesla Tesla below 167 takes out yesterday's low. Wow. We talked a bit about this yesterday Tesla almost being a proxy for Twitter even though it is, it shouldn't be, but it kind of become attracting stock from Twitter You know, like Yeah Well, yeah, like attractive stuff, it's tracking stock I heard you the first time. It was a good analogy. I liked it. thank you Mom You're welcome to your earlier point on. REITs Uh Vornado gets cut today over at Argus What? I'm thinking I mean Steve Roan I think Steve Roth has ever been talking about the REITs Now there was a piece in uh Bloomberg this morning about REITs getting uh, downgraded? uh Sophia is really interesting REITs have really gotten hit. REITs are down as much as the tech sector is down. uh and uh. some of the companies just you know a few months ago were selling below Book value. although Book value is questionable because if they have to write down their inventory then Book value declines and then maybe they are actually selling for a premium. So fascinating. Anyway, we'll see. um. Binance's CEO CZ Met with several investors uh, in the Middle East looking for cash for his crypto Recovery Fund Man, could you imagine if Binance drops and they end up going bankrupt, that'd just be the end of centralized crypto. I Think that that's when you start knocking on the doors, the coinbase and some of the other companies I mean disaster. Uh, well, we'll see. Uh NASDAQ Now Read by half of a percent we have. let's see, does that mean yields are going up? What do we have? Nope, yields actually down slightly 3.77 That's where we were yesterday on the ten years. so nothing special there. Uh, Darrow's actually green. It says the s P. It's really just the NASDAQ That's uh, that's dropping off a little bit and if we look at the minute chart first 15 minutes are usually hell with an an unclear direction. but I Have to say that's probably a pretty damn clear Direction Uh, let's see if Tesla's doing its usual multiple of the NASDAQ down. No, it's actually not. It's actually flat. Fascinating. Uh, big movers today Zoom down nine percent and Abercrombie up 20 Bitcoin back over 16 000 Open door at a buck 60 soon to be closed door trade desk rotating down a little more. 2.5 To the downside? Uh, Airbnb I'm so skeptical about their last earnings call I Don't believe them, You know I think they think that things are going to be so great because everybody and their mom's just going to start renting out spare rooms in their home to come up with more cash? Don't know that people want that? I don't know I I don't know, would you do that? I don't know anyway. I Gotta make another cup of coffee and go to the course member live stream. Make sure to take advantage of the 60 off coupon code. It's the best price you're gonna get and uh, it's the biggest coupon code we've ever had. And for stocks and psychology money, uh, that trading challenge starts Monday for Elite Hustlers that course comes out on Friday and then new lectures are coming out on financial statement analysis in December for stocks. Uh, new real estate lectures coming out in December as well. So anyway, always new content, always working. It's always a grind baby. See you soon Bye.

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