Hey, everyone, welcome back to another stock market open. Well, Well, well, it appears the stock market is like that Grim Reaper Beam with the side and it just has to go through every single stock and take 30% off. Uh. trade Desk obviously absolutely got destroyed.

uh yesterday post uh uh, post their earnings. Uh, which is surprising because it it wasn't actually that bad. but uh, then again, it's not really surprising this this cycle here. Uh, Revenue beat for 93 million versus the 487 mil adjusted EPS came in at 33 cents versus 29.

Uh. However, the Q4 estimate uh was uh, soft by uh by about 5% So 5% you were looking at $610 million of revenue for the fourth, uh, fourth quarter and instead of 610, you got 580. So 580 versus 610 you got a 4. What is that? 9 % Miss 4.9% Miss stuck down 30% That is how you know you are in an absolutely illogical Market correction.

And if you look a lot of stocks, 10 I mean Tesla's giving up like 6% a day. The Tesla's probably down more than 30% at this point since the summer. Uh, but folks are now suggesting that after trade desks hit yesterday and it's disaster yesterday. Quote stocks look, or stock investors looking for a sign of an economic slowdown are taking it out of the advertising industry or taking it out on the advertising industry rather trade.

Des CEO of the company began seeing a reduction in spending in October as businesses such as the Auto and Consumer Electronics Industries pulled back and the company's warnings were similar to what we heard with Facebook and Meta and a lot of people see. Advertising is really sort of like a barometer of what's going on with are we going to have a recession or not So Bloomberg Intelligence went on to say like is this like a gloomy sign of a recession coming and it's It's really interesting because if it's a gloomy sign of a recession coming, if your Revenue being up year-over-year but then missing guidance by 5% is a recession, it doesn't feel that horrible. like like part of me is like look, if you're gonna give me a recession at this point, just give me a juicy recession already Just just like really just take take it from us at this, just just grab it. Do it.

give us a real recession. but this is like this is like a clown show at this point where it's just like oh yeah, uh, don't you know they're gonna have a recession and and GDP just sits at, you know, like we have here on screen the Atlanta fed real now GDP indicator GDP ends up sitting at uh what we have here which is uh 2.1% Remember they were spot on. uh the last cycle around the last uh month yesterday? Uh, we had a uh 4.9% read on GDP and a lot of folks are looking at that. oh the economy is too hot.

we're gonna have to see rates rise and then it's like you've got this like, uh, weird Dementia or whatever where it's like you forgot what happened in the last quarter. It's like, well, oh, misguidance by 4.9% That's it. Sell by 30% It's illogical, but then again, it's kind of exactly what you're kind of getting. exactly what you bargain for in the stock market.

You know this: This is the stock market. This is what you get. Uh, not saying it's what you want, but it's what you get. And it's the stock market starting to price in this real fear of recession.

Uh, that's my belief is that you have a recession being priced in, uh, to stocks. and in order for you to actually want to to be exposed to stocks right now, you have to believe it's all Fugazi, Which you might be looking at it going. Oh, it ain't it's coming. Boy, it's coming.

we're gonna have uh, the like. Basically the belief right now is the earnings disaster that foreshadows recession. Uh, that's the kind of disaster uh, that people feel we are in right now and it makes sense. Uh, inpublic and ad agencies were on Shaky Ground after the pandemic for example.

And uh, now they're getting hit again because of fears that we're going into recession. Uh, Omicron uh, you know, and and a lot of the uh, the Co variants really helped boost advertising ads actually boosted after a uh, you know, after the the first half. And there was a belief that by the second half, ads were going to be better, not worse. And so maybe that's why there's some frustration that people thought okay, maybe Connected TV was going to be the big thing and uh, Connected TV was going to have was going to be resilient to the recession.

That's the only other way to look at it is that maybe there was a thesis that hey, you know that that's a growing sector because that's what Trade Desk for example is Right Connected TV Advertising it's a growing sector. You know what? it'll be resilient to a recession. Uh, and no, no, no, nothing is. And this is where I Really actually like what Jay said from the all Inp.

He mentioned yesterday on Twitter that we could actually go through these uh, rolling recessions here. we'll pull it up. Jason Uh oh, let me here. let me pull it up a sec.

Uh, I'll just log in really quick and I'll show it to you. So uh, Jason from the all In P He had a good argument. this idea about rolling recessions coming and it's really a way of saying hey, every industry is basically going to have it's it's you know, period of time where you get recession here, then you get recession here, then you get recession as and it's to be in contrast with a recession coming all at once. Uh, so basically two ways to kind of have a recession.

Everybody starts laying off at the same time. Uh, or you get uh Industries experiencing pain at various, uh, different stages or periods. Here it is rolling recession. Okay, so we're going to throw this up on screen.

It's an interesting argument three minutes away from the opening bell. By the way, you've got oil back up to 81 bucks on Brent 7668 on WTI you've got uh, 10-year treasury back down a little bit again. 4.7 bips just as you have. uh Michael Hardnet from Bank of America Well, your Bank of America resident bear suggesting markets are now becoming greedy that interest rates should be closer to four or 5 and a half% rather than 4 and a half% And any kind of reduction in interest rates is actually just greed.

That's what Hardnet says. and it comes along as Michael Wilson good old Mike Wilson Son from Morgan Stanley one of the biggest bears on the street, the bear that capitulated this summer at the peak it said I was wrong big Mayaula even though had he just waited a few more weeks, the stock market started falling. Goes to show even that may could be wrong with timing. But anyway, Mike Wilson said this is just all a bare Market rally what we're seeing right now.

Uh, it's all back to his thesis of the earnings recession which quite frankly, that kind of aligns with the idea of a rolling recession idea that you have, uh, every industry going through their earnings recession. think about when Chips went through their earnings recession end of 2022 Nvidia was like 120 bucks Now sure, granted it was before the whole AI stuff and everything. Uh, but again, you had the entire Chips industry go through their rolling recession the end of last year. It hasn't really hit advertising yet, so it makes you wonder is now that time Jason Here says rolling Recession trademark Watch 22 We watched the tech recession crush the funding of private startups and Destroy valuations of public companies.

A year later things feel like or we feel like things have bought them 2023 we're in the thick of a media and AD recession next door BuzzFeed uh Jazzle, whatever all bottoming out I Don't know if I really see next door as something that's bottoming out or just a dumb idea. the next door is the most like nasty platform. Okay I shouldn't say that's mean it's just my opinion. you go in there.

it's literally just people complaining I can't handle it I Get no I can't know anyway so then he's prognosticating here. Could we get a real commercial real estate? uh, recession? next year? Could we get a travel and Leisure recession in 24? What about a retail recession and you continue these? Cycles It's an interesting idea I actually think it's worth paying attention to? And then of course here is Jimbo Who um, says end of the year rally is coming So in other words, we are fudged. We actually needed to cool off. We need to shake out people who really feel oh, this is a this was just a bare Market rally.

They have to go. They can't make it to the promised land. That's typically what happens when you get a real rally. you have a pause like this.

change people out and then you start again. That's what going to happen I Think it's real, not a bare Market rally. It's a real R Let's the opening B here and get Friday underway at the big board. Here As we said: General Randy George US Army Chief of Staff and members of the Armed Forces commemorating Veterans Day Okay, that's pretty cool having the armed services up there ringing the bell.

Uh, it reminds me of when I back in my day when I rang the bell Anyway, yeah look hey uh I I I love The NeverEnding Optimism of Jimbo 90% green. This is not a bare Market rally. This is the beginning of a real rally. Well, thanks for the optimism.

Jim uh I too am optimistic but I am also realistic that you know you kind of. In order to make money in the stock market, you have to be able to go through pain. whether you're a bear and you have to go through pain while you wait for your turn. Or you're a bull and you go through pain.

The worst thing you could do is flipflop back and forth because you'll always get freaking screwed. Uh, you know, no. Nobody knows what the hell is going to happen on after earnings. We all know that every time it feels like I feel like if you really want to make a bet, earnings is like the worst way to do it because it's such a YOLO uh and the implied volatility rips option profits right out of your hands.

You know you're better off selling options. You want to make money, become a seller of options hashtag not guaranteed. Uh, Okay, so treasury yield steady as El Maretto opens Biden and Xinping to meet in San Francisco next week. Uh, that'll be interesting.

We we do want to see softened relations ideally between China and the United States. The less tension we have that the better we should be bringing CH China in as an ally. We should be bringing China in Uh, and holding our enemies as close as possible. The same honestly should be true of Russia I Know that sounds crazy, Uh, but from a long-term point of view, Uh, we should have uh as as productive as relationships as possible because productive relationships uh, in my opinion.

minimize. Uh, War Uh, it's uh, it's it's unproductive cornering of countries that lead to this uh uh. You know these these sort of overreactions in Aras and things make me nervous. Uh, But anyway.

so then we here we go. Uh, we've got uh, Apple back at 184 Nvidia 475. uh Tesla doesn't know what direction it wants to go today. Trade desk is actually trading up.

Uh, compared to the 31% it was down in aftermarket hours, it's actually oh, it's only down 15% Oh my. God Uh yeah. so uh oh. this is an interesting headline: CEO Robbed at gun store in San Franc or sorry CEO robbed at gunpoint in San Francisco Still believe San Francisco can be saved? Well that yeah, there are a lot of people making bets on the Uh San Francisco real estate market thinking you know what we'll be able to we we'll be able to turn it around Taiwan Semiconductors, by the way, posted its first monthly sales gain since February Okay, it has been nearly a year.

It's been like eight months, but it's been nearly a year for Taiwan semi to actually post a sales gain. The sucker's up 3% right now. Uh and uh. people are suggesting that the chip Market at least from Taiwan Semiconductor's point of view will be hitting bottom quote very soon.

Primary chipmaker obviously to Nvidia and Apple. They produce 90 some 90% of advanced chips. Uh this this is a company I have exposure to as well and and I mean obviously the the the companies that I have exposure to uh I'm a big fan that uh as we like I try to position myself before El big old rallies. Problem is that things have kind of been getting hit more and more and more here in the last three months.

Uh, but uh but I haven't changed my outlook on on my excitement for for these companies over the next years. Uh, especially Intel Uh I think uh you started opening a position here around Uh 29 bucks 30, 29 to 39? Uh 31 bucks. Uh I Cannot wait until we break that 39 39 ish level right here on the Fibs and we've been trending very nicely. up on on on Intel See Now that started.

You zoom out enough that'll start looking like a little bit of a Nike Swoosh Oh good Lord. Okay, so then we have let me see here what the suits are saying. Ah That's right. we have the University of Michigan Consumer sentiment survey coming out in 25 minutes.

Let's see how horrible sentiment is. Remember the misery that was the last Economic Optimism read that we reviewed the day. Uh, not great. uh, economic optimism as low as it's been in 2008 June and July of 2008 Not a great comparison implies we're about to go into Leman Brothers But then it's also as low as we saw it at the end of 2011.

like November of 2011 which implies we's at the bottom. We'll see what the University of Michigan information shows. Treasury Rally I saw an Abrupt turnaround Thursday That's when we saw the 10year jump like 15 basis points. Uh, and and there's a belief that liquidity is going to become more and more of a problem in the treasury market.

Uh, one of the worst treasury auctions that we've seen since 2011 when the S&P downgraded US the US credit rating that is. and uh, that's a no bueno. So some people think that the only thing preventing the bond market from absolutely collapsing right now is the reverse Repo facility at the Fat. You may have heard about it before.

It is basically the Coid Money Slush Fund. that's what I call it. It's the Stimulus Money Slush fund. Notice how it was basically zero.

Uh, before about Uh February March it was March of 2021. Basically zero and there's very little money in here. Maybe at 1 Point $150 $200 million over here at some of the Spike between 2014 2018 Here Comes Co money PR Now we're all the way up to about 2.4 billion dollars of extra money Cushion This money, by the way, is able to move into treasuries to buy treasuries. Uh, this is often also seen as a representation of of, uh, some money market funding since.

uh, some money market money can basically sit here, collect yield, and then pay it out to money market investors. And as you can see, this line is very rapidly declining on the right side. And the reason for that is the Federal Reserve Luigi Mansion vacuum cleaner. They are vacuuming up as much money as they can get their hands on and they're going around in my opinion, to every little stock doing that, trying to destroy everything and uh, and and vacuuming up as much money as they could find.

That's basically what's going on. While at the same time, we now have quote warnings highlight ongoing inflation impact on consumer stocks. Warnings on weekend liquor and luxury demand point to a vulnerable consumer base that has sustained High inflation Adding pressure on not just American stocks, but also European stocks luxury watch is declining. Krig has warned its Flagship Brands will see a drop in profit.

Uh, you've got a Gucci warning of a drop in profit. The Financial Times did a piece on Ares the other day and said they're the only ones who are protected and they're not seeing it plummet. Consumer discretionary data uh remains one of the most important profit warnings according to Morgan Stanley Uh With an Ur an enduring influence over decreasing sales estimates on Uh, not just European stocks, but also American stocks Uh. With uh with inflation remaining concerned spending going down, will it hit the travel industry next year? Nobody knows, Nobody knows, Nobody knows uncertainty.

Oh uh. So then we do have a firm. I Want to give you a quick note of the scary warning? The scary recessionary warning of a firm yesterday. You won't believe the scary warnings of a firm.

in case you don't know. speaking of the consumer, a firm is a consumer stun. Uh, not only is it a consumer stock by lending, people buy now pay later loans. uh, they in my opinion, are a little bit of an indicator of what you might expect to see going forward.

Uh, in terms of uh, how well or not well the consumer is capable of functioning. Uh, a little bit concerning if, uh, if you get bad news coming out of a company like a firm because again, you want to see that uh, the individual uh, consumers are continuing to buy the deliciousness that is debt. Uh, well. and as of at least yesterday.

uh, as we went through the affirm earnings call which I'd like to be able to pull up right now, but I might have to go for memory here for a moment. Uh, the affirms CEO uh made it pretty clear yesterday. Uh, wow I am shocked I misplaced it. Uh, I apologize.

Wait, is it right here? No, that's the 10 Q loser. Anyway, I'll just have to tell you from memory. Yeah, Rip. Okay, well yesterday in the affirm earnings call uh, the company made it pretty clear that they're actually not seeing a macroeconomic Slowdown which was really shocking I was pretty surprised by that I was certain we were going to see a Slowdown This is a company by the way that saw their uh, their sales their their revenue growth up about 28.7% on gross revenue.

they were up uh uh 37. Well sorry uh they were up 28 8.7% on network Revenue which is when you're swiping your card way above inflation and they were up about 37% on total revenue. And then when you looked at advertising, their advertising spend was actually down. So a firm was a company that grew Revenue while shrinking advertising spend and then I thought this is crazy.

So I went to the earnings code and I read the earnings code and the CEO You know what the CEO's warning is to our economy in our recession. Yeah, we're not seeing a slowdown right now and we're not really seeing any meaningful increase in delinquencies. I'm like what that like if we're really like I've always said the worst stock to own going into a recession is a company that is lending B&P loans because there's no collateral. like just stop making your freaking payment on Bnpl and they're not going to come take your stuff.

They not going to lend to you again in the future. So you lose your job, you go into recession. It's one of the first bills you stop paying. you go into deferral or or or whatever.

But they're like we're not seeing a recession. There's there. There Be no signs of recession. I'm blown away that was in the earnings call yesterday.

Fact: Check it. Read it yourself. But I was blown away that a firm suggested we see no recession now. Obviously the stock did very well after that.

I mean it's been, it's been down substantially. Let's take a look at how it's doing today actually. Uh, but uh, it was a very very I See, it's giving giving back a little bit. Today yesterday was up like 20% Today it's down like 6% But it was very interesting to me because uh, it, uh, averaged out to 18% gain yesterday on a firm.

Very interesting to me because it was such a great sign for uh, for the consumer that even as we look for that recession, it's just not here yet. And it so reminds me of 2011 where every single freaking month every bear because I Studied Mark Mar daily. But you know, back when I was in high school, back when I became a real estate agent in 2010 through 11, 12, 13, 14, 15. This is all I Love doing and every single month we're going into recession, we're going to recession.

We're going to recession. And we just weren't. And I'm not saying we're definitely not going to go into recession, but at least every granular piece of data uh, we're looking at in terms of company earnings is saying yes. Earnings Recession Where earnings are rolling over compared to growth estimates.

But you're still. You're just disappointing. Wall Street Estimates You're still not indicating a recession. It's bizarre.

Uh. Apple Rallying here throughout the day. Actually, it feels like a lot of things are actually rallying right now. Look at that.

4% on TSM Let's go Intel up another 2% Let's go. uh. Trade Desk not not doing so well. Trade Desk trying to balance out around 20% Uh, whereas uh Tesla up about 1% here yesterday Tesla Got absolutely smashed.

Complete destruction on uh Tesla yesterday. but it'll be back. Oh wow. look at AMD 117.

You know people really lost a lot of faith on AMD This sucker went down to 93. Look at that almost perfect bounce on the Fibonacci I Actually think this is kind of a perfect chart to show you what I believe Uh, this Market is to look like here. let me go to the week chart. Yeah, this is so perfect.

So here's your week chart and this shows you the chips bottom right here in October of 2022. Here's your chips bottom, then you Nike Swoosh Up You get euphoric though so you have to correct back to Trend and the Nike Swoosh can continue in Trend Remember I've always said volatile Nike Swi I Want you to see the NASDAQ look at the NASDAQ Folks, you know people are like oh, don't you know there's no Nike Swoosh It's been down for three months. Really? look at our yellow line here. the Trend This trend was a resistance and as we broke through that resistance, the stock market became euphoric and now it's returned to Trend or back to that yellow line.

We can pull this out. see it perfectly. Uh, so pretty remarkable. but uh, I'm I'm not.

uh I'm personally not so freaking bearish and even even though it was right to be bearish the last three months, I'm like whatever man give it to us Green Reaper Grim Reaper for Green Reaper, give it to us Grim Reaper Come through every stock, take 30% off every single stock. make it cheaper for me to add to it. Thank you very much because I ain't selling I ain't leaving. So uh, we've got University of Michigan coming up in uh, 15 minutes.

I'm excited to see that because it'll give us some consumer Intel again. Uh, and it is really the last bit of data that we're going to get before CPI on the 14th. Uh, today is November November 10th. Which does mean we are raising the prices on the new verse Pro courses.

Uh, tonight at 11:59 p.m. you'll no longer be able to get them for under $100 All you have to do is go to Meek Kevin.com We are also traveling a lot for Real Estate Uh, you know whatever we got to do. so if you want to Shadow me you go to Meetkevin.com you could Shadow Kevin right here. Watch me by real estate.

Uh, you could get financial advice uh from myself and the team we're releasing. uh uh, most of the financial advice uh videos and follow-up videos that we're making for folks before. Black Friday And then of course the new verse Pro Courses are coming out: How to get paid more at your job, negotiate any deal and win. Speak and present with confidence.

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uh, in, um, uh, the beginning of December before Christmas So uh. anyway, let's take a look at what else the suits have for us today. What are consumer habits Telling investors? That is the question of the day, as as investors gear up for China's Singles Day, the world's biggest online shopping spree set to draw in around 1 billion participants. Global Consumer sentiment is a mixed bag.

Concerns about Rising prices and spending habits abound, especially in European countries signaling weakness. Yeah, no kidding. a lot of companies with European exposure signaling that weakness do remember China We should be sending thank you envelopes little red envelopes of thank you to China Going thank you for exporting deflation to America That's what they're doing. They are sending deflation to us.

They're making it cheaper for us to manufacture. You've got substantially negative PPI like 2.6% producer price inflation Cons: Consumer prices are negative in China China Deflation for China is not good. Uh, it. It makes it much harder for them to deal with the trash debt that they have and that's their damn problem.

Okay, they that is absolutely their problem, but it's a benefit to America I It just means I don't I don't want to pull a Kenny G and start investing in China Although it could be, you know you could make the argument that well, maybe you're at of bottom man I got plenty of bottoms to deal with in America Anyway, China's deflationary pressures just aren't going away Underscoring the fragility of the economic recovery. in 2023 says Bloomberg uh All right, we've seen the data that came out: Thursday Morgan Stanley sees China potentially facing a prolonged fight against falling prices in the next few years. Writing that Beijing is at the initial stage of a deflationary battle as it transitions from an overe, extended credit fueled growth model, you're basically potentially creating another. Japan Weak inflation figures would add to more uncertainty to the nation's growth.

Outlook Following unexpected contractions in manufacturing uh, consumerism, we've got Credit Data coming out. Uh. expectations are growing for the Central bank to provide more liquidity support. They've been very slow to provide stimulus.

Uh, much much slower than people have thought for uh, the uh Chinese economy Now uh I See a comment here Mr Reaching for reality says: do you c a point to tax loss harvesting? Don't you miss out on appreciation over the month you have to wait? Well, depends what side of the aisle you're on reaching for reality. see the Bears would tell you if you sell now you are sitting out on losses over the next month and buy back cheaper next month. So it just depends what side of the aisle you're on. my friend.

It just depends. You know, Um, there is. I Have a hard time beleving that the stock market is going to exactly emulate 2022 I have a hard time believing it is going to look just like last year. It usually doesn't like people.

usually. you know, maybe people sold earlier this year I Don't know in anticipation of a painful end of the year, do you actually maybe get dare you say it a Sandy Claus rally This year it's been wrong In 21, it's been wrong in 22. I It was right in 2020. but it wasn't right in the last two years.

So is this time really going to be different? Who freaking knows? Who knows. Uh, but yeah, I mean I I Do believe there'll be some tax loss harvesting I know every time I say that people are like, oh, but you know my stocks are up. You know, 30 to 80% year to date. Okay, but did you buy those stocks Jan One right? Because unless you dumped all your money into those socks Gen one, your year to date don't mean Jack s year to date's a scam.

Uh, okay. speaking of, uh, speaking of that, uh, let's see what the Financial Times is saying. Jamie Diamond selling his stock front page good old Jamie Diamond Mr Bank wedge deal purchaser dumping his Stck JP Morgan Sitting at 144. Uh, the banks I think uh, are going to be challenged under the weight of likely higher reserve requirements and substantial more regulatory scrutiny.

Do not. By the way, if you don't like regulation, get into Financial Advice like we do at Stack: Don't get into stock brokering. Don't get into banking. These are things you don't want to get into.

If you have a disdain for regulation, it is a very bad idea. Uh, but anyway. Banking? Yeah. I I I Don't know I mean banking's done so fantastic.

but uh, banking is also extremely complicated. There's so many parts s uh of of banks that make uh, their uh, their companies very difficult to analyze. One of the challenges you have is well, as you have banks that are profiting heavily off higher interest rates. but the question is, what happens when those interest rates start trending down in.

Earnest Do Bank earnings start showing year-over-year declines start showing missed expectations. Is it possible you could have the chips recession last year? the Ad recession? or or or you know, SAS recession or whatever you want to call it this year And then next year you see a banking recession. Of course, that's going to lead to fears about potentially banking collapses because that's always what happens. And yes, are smaller Banks going to collapse of course.

just like the Um Idaho Bank that collapsed because of too many loans to Truckers when we went through a freight recession. Remember how we had a period of time of going through the freight recession? Yeah, rolling recession seems to be a pretty accurate way to put it. Accurate way to put it. So good job! Uh, Jason I Couldn't actually agree more? See what these folks are saying? We're eight minutes away.

by the way. eight minutes away from, uh, consumer sentiment data. Talk here about win. Win is down % right now.

Win Resorts Oh, here comes the Travel recession. Let's see what we got. All right, All right earnings for when when is not winning? Oh, that is so lame. Kevin Anyway, Win! Resorts What the hell, dude.

They reported like a massive beat on adjusted EPS adjusted EPS coming in at 99 cents versus the estimate of 75 cents. Big Beat operating Revenue comes in at$ 1.67 billion versus the 159 beat. Then you've got Q3 Operating Revenue beats massively 619 million versus 541. What the hell? Uh, what? Why is markets unfairly dock win after second quarter.

But we see buying opportunity. Okay I don't even see a forecast here. Stock: Falls after Q3 Bro, this is ridiculous. They beat on every metric and the stocks down 8.5% I don't even have exposure to win so I don't really care.

but like my heart goes out to the people who do own win because this is what the hell that's like BS uh wi Resorts Expects a big Formula 1 weekend not dropping room rates. Uh when Macau edges up. Gotta love it when those stocks are edging Revenue beats EPS beats Maau Recovery UAW or sorry UAE Resort under construction UAW Oh imagine the imagine a union Resort Come one, come all, come to our UAW Union Resort where we will teach you how to pick it. Oh no no, don't say that.

Kevin That's mean have to do something productive like striking. Oh okay, all right so there's a headline here that says South Pole CEO steps down I'm like I didn't know the South Pole had a CEO Apparently South Pole is a company that is the world top seller of carbon offsets and its CEO is uh, stepping down following months of allegations that the company overstated its climate impact of the products that it sold zoric based company. Yeah well. when when when they're doing climate and carbon offset projects in Zimbabwe and their company is named South Pole you should walk into that one way.

Sus: I Don't know. Man, this this this game's a riot. It's all rigged. It's all rigged.

Uh, except for Uber stock which is apparently uh, an all-time high for the year. Uh, Uber stock sitting at 51 bucks? Uh, this is uh, this is in apparently as consumers continued to spend money, but we were supposed to be in a recession. Uh, one of the things that people say is that you have a lot more drivers. uh, driving Uber now because more people need second jobs.

Oh uh, which is a sign of a painful economy. But if you have more drivers, prices for rides can come down to the point where you actually end up more or getting more Riders because if prices of lifts and Ubers come down because there's more availability of workers and more supply for Ubers and lifts, then you end up getting more people willing to ride Ubers because you have more competition. which is, it's actually great. It's actually it's a it's a good thing I mean I've been in too many places where you wait for an Uber It's like what 30 minutes for the Uber to come up this Ridiculous.

That's not obviously true in bigger cities. You know it's like one minute. You know? Sometimes you hit order Uber and it's there before you even want it. It's my shoes on.

man. this stupid. All right. Anyway, uh so we are now three minutes away.

Three minutes away. No, not from another pitch that meet Kevin's new. Bros Pro Courses have a big coupon code expiring. same thing for shadowing we've got.

We have 30. Uh uh well. how how should I word this? uh probably 30 to 40 of the next. Like 52 days of the year we are hunting for Real Estate all day long.

That's what we're doing. Literally 30 to 40 days of this of the rest of this year. Uh, we are hunting for real estate and then going into Jan So if you want to be part of that, all you have to do is go to meet Kevin.com Press the little Shadow button or financial advice for the new verse Pro pre-sale Whatever. I'm really proud about our little programming we did here.

Where if you select more, you actually get the automatic C increasing discount. You can also email us to bundle up with a profit portal which just gives you everything which is kind of cool. Okay, so we are now two minutes away. two minutes away.

Nobody knows two minutes like I do no uh University of uh Michigan Sentiment survey expected to come out at 63.7 Current conditions expected to come in at 70.3 Expectations: 61 U ofm One year inflation 4% uh, three to or five to 10 year inflation expected to come in at 3% sorry 4% for the one year 3% 5 five to 10 Let's look at the um uh, will I be in Phonix? Maybe I'm not telling I'm not telling where I'm going. it's my secret. So uh I'm gonna pull up the break evens really quick while we uh uh do this. Okay yeah, break evens fiveyear forward down at 2.37 That's good.

Oh good. Plummeting fiveyear break even as well on the five-year break. Even not the five-year forward down at 2.27 That's fantastic I Like to see that I Want to see I and I've been saying this all freaking year long I Just want to see the inflation expectations go down and down and down and down because that means we're not dying and this chart on the right side going down is good. We want more of that.

All right? Y'all ready here? Let's pull up the QQQ So the second this data comes out, you could see the stock market plummet. Honestly, this is not like such a crazy big Catalyst where you really need to be horribly wor. It'd have to be pretty damn different. 10 seconds away.

Here we go: U Ofm survey says oh, inflation expectations higher uh, you got one year at 4.4 Not good. That's like a 10% beat. There goes your red. Candlestick 5 to 10 year comes in at 3.2 The sentiment survey comes in way lower than expected at 60.4 versus the 63.7 expected.

Current conditions comes in in the toilet at 65.7 versus the 70.3 expected expectations at 56.9 versus the 61 expected. And then of course the consumer inflation gauge. Hutter Rip. Uh, let's see if they're going to talk about it, but that I don't know if that was really a horrible surprise.

Uh, these, by the way, are the preliminary numbers for November that missed uh final reads for October at 4.2 on Long Run inflation and 3.0 on October uh or um yeah October that's October 5 year 4.2 on October one year. Uh, those Rose to 4.4 on the one-year outlook for November preliminary and then 3.2 for November uh, fiveyear prelim I You know the market kind of chugged that off like let's let's go find out where that Grim Reaper went. Uh, interest rate sensitive. Well, they were falling.

Let's look at another interest rate sensitive. No, actually, the market mostly shoved that off. Shrug that off. Yeah, you had.

you had a couple red candlesticks there. But honestly, I think that's not a surprise. The the question question is is that going to lead to the market selling off the rest of the day? Whoos! I Guess we find doe? Yes, Yes. Uh, Okay, so markets lower for longer, damn you.

Brian Stop saying the truth. Honestly, that's actually a great line if you think about it. if you think that is a fantastic line, because if you think about it, I think everybody thought this recovery was going to go a lot faster. and In Fairness, We had a beautiful, delicious first six months and now it's kind of like what is this? Uh, but uh, that's a good one I Like that.

that's a good one. has to complete the right shoulder of the inverse Head and Shoulders on the spy. Oh, stop it, you bear m M No, No, no wrong. We are not going down to the 200.

SMA I Refuse. Refuse to let the Spy go down to the 200. That'd be down to here. You'd have to get somewhere on neckline.

Maybe Maybe it be. Well, it's probably right here. That's probably about 370. The 200 SMA is about 3.

384. No, no, where's my sell button? Do I have a sub button Gain the lead. No. Lost the lead.

That one Betrayal Yes. Lost the lead Betrayal That will Not happen Okay What? Nvidia is looking cheap to some Oh my. God Gosh, Who's smoking crack today? Oh wait. I I I Kind of agree with that, but people already believe that anyway.

Oh my gosh, Yes dude. Oh, we need a soundboard that shut the door H 3195 Don't be jelly. If you're a course member, you get to become a moderator. So then you you turn blue, chat and then then you're then you're automatic.

Not in poverty chat. You join any of those courses you graduate from poverty. chat inidia Bulls are starting to throw around an adjacently wait. Why? how did why did I read that wrong? An adjective rarely used for a stock that's more than tripled in the last year.

Oh, an adjective like, like the grammar word oh cheap? Okay, Oh wow, my mindset was not in grammar. That's the view investors like. Alec Young spelled with a c I Guess that'd be the right way. Remember folks.

I will always stand behind Alec Baldwin Chief Investment strategist at Map Signals who have watched Nvidia shares trade in the $100 range since the summer are Meandering after the Re are now around $500 but with profit estimates still. Rising Inidia price relative to its expected earnings has Fallen relative to uh, the lowest expectations since mid 22. The stock is actually very cheap. Adding that its price to earnings ratio is less than the company's estimated growth rate, which is uncommon.

Uh, I don't think so. that's a I mean maybe W Maybe they have some fancy estimates, but that's certainly not the consensus. Oh man, there we go. Okay, let's find out what the current consensus is.

Uh, you know what's funny is people always get mad at me and they leave me angry comments like how dare you call me poverty chat. Well then F pay $5 a month and I won't We were like I'll be damned if I pay you money after insulting me I man if if you're insulted by that, you got bigger insecurities. Uh, so okay Jan Jan 2024 1088 Uh, and then we're going to go. We're looking at growth of Wall Street Consensus: 57.8% 19% minus 5.8 I Don't know how they come up with this.

I' just like to compare the consensus 88.1 divided by four puts us at 22% average growth expected stocks currently. Yeah, dude, what are you smoking? Stocks currently trading at 43 times? It's not a bad valuation though based on based if that growth sustains. Problem with this formula is if the growth doesn't sustain, you're screwed. Yeah, it's at 1.96 on a PEG ratio basis.

That's not bad. Like let's see what Tesla's trading for right now: Tesla Right now you're looking at Uh 212 213 divided by 3.14 Oh, the earnings are piie okay. Oh, the earnings estimates have been cut so much it's trading for 60 times right now. Uh, and growth is expected to be Wall Street Consensus Pretty low actually.

right now, growth is what's that? 26% 27.5 67 divided by 27.5 Uh, that puts him at about a 2.4 Peg I Personally think Tesla's more likely to grow at about a 35% clip. so that puts you at about 1.9 which is basically the same level as Nvidia Just depends whose Peg you believe the big Peg or the small Peg stop Kevin Stop All right? I'm about to go look at my little twins so H they're so cute. Okay, now we have end phase expected to come up with. Dude: End phase expects to have higher earnings than Tesla for the end of the year.

$4 40 per share $440 per share. If this isn't a correction I don't know what is, but Nas is selling for 17x 17 times PE it's so low. Okay growth expected to be -12 and consensus plus 53.1 plus 5.1 plus 9.7 EPS is expected to be 55.7 over the next four years. Divide that out.

Uh, we're looking at 14 divided by 14 trading for about a 1.2 Peg with reduced growth expectations. rip. Uh, so anyway, let's see how the Qes are doing here and well, looks like you got a little bit of a of a decline there after. uh, after the sentiment survey.

Looks like that might already be trying to get through its little bottoming process there. Hey, Tesla still green for about the next minute. Lost the lead. Oh I shouldn't have said anything.

Oh, with that said, if you want to go check out those delicious courses with a price increase coming later today, make sure to go to Meetkevin.com You can Shadow us as well as we go byy go ham buying real estate and look at our Renovations as well. And even though I'm a licensed financial advisor, licensed real estate broker, and becoming a stock broker, this video is not personalized Financial or real estate advice for you. None of the information shall be deemed reasonably sufficient information for the purpose of evaluating security. Information is not endorsed by me, run and actively managed ETF hold long positions of various positions mentioned here, including those mentioned.

oh yeah, and I have no relationship to Issu I didn't read that fast enough. restart it I'm also not presently acting as Mar maker. None of this personalized Financial advice is not tax, legal, or otherwise advice tailored to you. The video provides generalized perspective and information commentary.

There we go, gain the lead. That's what we're going to be saying later. Oh, I really ruined the ending video.