1 00:00:00,040 --> 00:00:02,680 Speaker 1: You have a company company, let's call it a USA 2 00:00:02,879 --> 00:00:04,879 company called that's the name of the company. It's called USA, 3 00:00:05,280 --> 00:00:08,119 and USA is a company has a product that it sells, 4 00:00:08,160 --> 00:00:14,039 which is protection security infrastructure. And you pay them in 5 00:00:14,080 --> 00:00:16,519 a form of a percentage of your wages. That's how 6 00:00:16,559 --> 00:00:19,280 you do it. And what they've done is they've capitalized 7 00:00:19,280 --> 00:00:22,039 it basically through debt instruments. They don't have any equity. 8 00:00:22,120 --> 00:00:24,039 You don't have equity, you have debt. So you have 9 00:00:24,079 --> 00:00:26,679 an ownership of this kind of through the debt. And 10 00:00:27,280 --> 00:00:29,079 the death that they have issued over the years is 11 00:00:29,199 --> 00:00:33,159 compounded dramatically because they needed to for a lot of 12 00:00:33,280 --> 00:00:37,560 unforeseen expenses. Now the debt is blossoming and the company 13 00:00:37,679 --> 00:00:40,840 is taking in revenue through a part of your income. 14 00:00:41,159 --> 00:00:45,359 And if we eliminate that, what other mechanisms do we 15 00:00:45,399 --> 00:00:48,240 have to pay down the debt interest and to pay 16 00:00:48,240 --> 00:00:52,920 off the debt and to fund the company's continuing security infrastructure. 17 00:00:53,159 --> 00:00:57,000 Speaker 2: You are listening to Carrie Letz's Financial Survival Network where 18 00:00:57,000 --> 00:01:00,439 you get valuable information you just can't find anywhere where else. 19 00:01:01,000 --> 00:01:04,599 To thrive in today's trying times, you need the financial 20 00:01:04,680 --> 00:01:09,760 survival network now more than ever. Go to Financial Survivalnetwork 21 00:01:09,799 --> 00:01:13,519 dot com and get your free newsletter and gift. Financial 22 00:01:13,680 --> 00:01:17,319 Survival Network now more than ever. 23 00:01:20,560 --> 00:01:23,959 Speaker 3: And welcome you are listening to and watching the Financial 24 00:01:24,000 --> 00:01:27,879 Survival Network. I'm your host, Kerry lepp Well. Got somebody 25 00:01:27,920 --> 00:01:30,959 back on the show, hasn't been on in quite a while. 26 00:01:31,400 --> 00:01:35,840 Somebody who's investing acumen and knowledge. I put up there 27 00:01:35,879 --> 00:01:40,120 with some of the best. Whose name is Andrew Horowitz, 28 00:01:40,439 --> 00:01:46,959 A disciplined investor. And sometimes discipline is good and sometimes 29 00:01:46,959 --> 00:01:50,400 it's not. But when it comes to just think, the 30 00:01:50,480 --> 00:01:53,680 only way to make money over the long bawl is 31 00:01:53,959 --> 00:02:00,280 through a discipline, very strict approach with firm, viral and 32 00:02:00,439 --> 00:02:03,480 sell rules in plate. Andrew, it's great to have you 33 00:02:03,560 --> 00:02:06,319 back on the show and spend years. I was on 34 00:02:06,400 --> 00:02:11,240 your show recently and so coming. What the how things 35 00:02:11,280 --> 00:02:14,159 have been going? I mean the market. You know, we 36 00:02:14,280 --> 00:02:17,000 tend to overloit the fact that the stock market was 37 00:02:17,080 --> 00:02:23,800 the greatest invention creation effort for creating well, and you know, 38 00:02:23,840 --> 00:02:26,680 you get into your family, you get into your business, 39 00:02:26,759 --> 00:02:29,759 and you kind of just don't think about it, and 40 00:02:29,800 --> 00:02:33,000 then you look at your portfolio, assuming you haven't had 41 00:02:33,479 --> 00:02:37,439 one of those infrequent crashes and you say, wow, how 42 00:02:37,479 --> 00:02:38,199 did I get here? 43 00:02:39,319 --> 00:02:42,840 Speaker 1: Yeah, it's amazing because I have, for example, I family 44 00:02:42,919 --> 00:02:45,639 members have friends that have four one K plans, right, 45 00:02:45,680 --> 00:02:47,360 and the kids have four one K plans. And I've 46 00:02:47,360 --> 00:02:50,319 always told them, look to me a favor, just just 47 00:02:50,639 --> 00:02:54,520 close your eyes, hold your nose, put money into your 48 00:02:54,560 --> 00:02:56,520 four one K plan. They're like, oh, well, you know, 49 00:02:56,599 --> 00:02:59,360 I'm just starting this new job. I don't have the money. 50 00:02:59,680 --> 00:03:01,960 And then invariably I forced him to do it. I'm like, look, 51 00:03:02,039 --> 00:03:04,560 just do a few dollars and let's see what happens. 52 00:03:04,599 --> 00:03:08,039 And somehow it's a bit of the sleeping beauty concept. 53 00:03:08,120 --> 00:03:08,199 Speaker 3: Right. 54 00:03:08,280 --> 00:03:10,039 Speaker 1: They wake up a number of years later and they're like, 55 00:03:10,080 --> 00:03:13,039 whoa wait, do you look how much I got in 56 00:03:13,080 --> 00:03:15,159 this four one K plan. I'm like, yeah, And if 57 00:03:15,199 --> 00:03:17,360 you didn't argue to begin with, if you didn't spend, 58 00:03:17,439 --> 00:03:19,319 say you know, oh, look at all the money I 59 00:03:19,319 --> 00:03:21,639 have to spend on this or that. What happens is 60 00:03:22,000 --> 00:03:25,080 it becomes almost a regular occurrence that you don't even 61 00:03:25,120 --> 00:03:27,400 feel and like, yeah, I don't even when I did 62 00:03:27,400 --> 00:03:30,479 it first, I was I was hurt for a minute, 63 00:03:31,039 --> 00:03:33,280 and then all of a sudden it came back to 64 00:03:33,439 --> 00:03:36,240 the idea that I don't even remember doing it, and 65 00:03:37,280 --> 00:03:39,639 just a message out there for people that are listing 66 00:03:39,680 --> 00:03:41,759 that if you haven't done it, and if you were 67 00:03:41,800 --> 00:03:43,759 one of those people like, hey, you know what, my 68 00:03:43,840 --> 00:03:49,319 employer doesn't match, it doesn't matter. Pre tax money that 69 00:03:49,520 --> 00:03:53,680 has the availability to compound at a tax deferred basis 70 00:03:53,680 --> 00:03:55,560 through a four to one K plan or O row 71 00:03:55,599 --> 00:03:57,960 off IRA or an IRA or any other kind of 72 00:03:58,319 --> 00:04:04,039 pension plan is one of the greatest wealth creation on 73 00:04:04,159 --> 00:04:07,360 top of the stock market. So you add the benefit 74 00:04:07,639 --> 00:04:10,439 of tax deferral. So if you haven't done so, it's 75 00:04:10,439 --> 00:04:13,199 an important to end of year here to start thinking 76 00:04:13,240 --> 00:04:14,599 about what you're going to do for next year. And 77 00:04:14,719 --> 00:04:18,120 if you're age sixty to sixty three, starting in twenty 78 00:04:18,199 --> 00:04:21,839 twenty five, there's a super catch up that's available where 79 00:04:21,839 --> 00:04:23,639 you can put an extra thirty seven hundred and fifty 80 00:04:23,720 --> 00:04:27,600 dollars into I don't know what this whole six carry 81 00:04:27,639 --> 00:04:30,399 this hole. Who picked sixty to sixty three, but it 82 00:04:30,480 --> 00:04:33,199 is what it is. If you're age sixty to sixty three, 83 00:04:33,240 --> 00:04:35,959 you get not only your base your catch up, but 84 00:04:36,040 --> 00:04:39,040 you're a super catchup that you can deposit money to 85 00:04:39,199 --> 00:04:41,079 for your four and one k to add even more 86 00:04:41,120 --> 00:04:43,240 money to your four O one k for your future. 87 00:04:43,279 --> 00:04:47,399 So I agree, greatest, greatest invention. But then if you 88 00:04:47,439 --> 00:04:50,439 add tax deferred compounding on top of it, even better. 89 00:04:51,000 --> 00:04:54,480 Speaker 3: Yeah. There's always that age old thing to the rough IRA. 90 00:04:55,120 --> 00:04:58,839 So you think your regular IRA, you convert it to 91 00:04:58,879 --> 00:05:00,959 a row up, you have to pay is on it, 92 00:05:01,560 --> 00:05:05,199 but then you can build up, continue to build up 93 00:05:05,199 --> 00:05:10,160 well tax free and not pay any packes on the distribution. Right, 94 00:05:10,240 --> 00:05:13,319 And so is the tax deferrol that you get from 95 00:05:13,360 --> 00:05:20,199 a traditional IRA worth We're eventually paying tactes on it. 96 00:05:20,399 --> 00:05:25,079 Or you do partial conversion you know the age old 97 00:05:25,160 --> 00:05:26,120 the thing works. 98 00:05:26,160 --> 00:05:28,560 Speaker 1: Yeah, are you better backdoor conversions? And you're better off 99 00:05:28,560 --> 00:05:29,800 with wroth? We have better off of this. It all 100 00:05:29,800 --> 00:05:31,319 depends on how old you are. The younger you are, 101 00:05:31,399 --> 00:05:34,360 the better off you are to have a WROTH. And 102 00:05:34,399 --> 00:05:36,120 then we have to ask the question which none of 103 00:05:36,199 --> 00:05:39,040 us answer could answer, what's the tax rate it's going 104 00:05:39,120 --> 00:05:39,959 to be the future. 105 00:05:40,199 --> 00:05:41,120 Speaker 3: Higher or lower? 106 00:05:41,959 --> 00:05:45,000 Speaker 1: The fact is I'm putting five thousand dollars a year away, 107 00:05:45,040 --> 00:05:47,399 ten thousand dollars a year, whatever the number is, into 108 00:05:47,399 --> 00:05:50,959 a regular IRA, and I'm getting a tax deduction for it, 109 00:05:51,000 --> 00:05:54,519 which is great. It gets tax deferral, which is fantastic. 110 00:05:55,040 --> 00:05:56,680 But now all of a sudden it's worth five hundred 111 00:05:56,720 --> 00:05:58,439 thousand dollars in the future, and I gotta pull money 112 00:05:58,480 --> 00:05:59,800 out of it. I'm pulling money out of a much 113 00:05:59,839 --> 00:06:02,279 high tax rate or lower tax rate, and I'm pulling 114 00:06:02,319 --> 00:06:04,920 out at a much higher valuation at that point. So 115 00:06:05,240 --> 00:06:09,959 a lot of questions to answer. H Very, there's no 116 00:06:10,160 --> 00:06:12,920 magic potion to this whole thing. The only thing I 117 00:06:12,920 --> 00:06:18,480 could tell you is do it some way, somehow get 118 00:06:18,519 --> 00:06:19,040 money working. 119 00:06:20,279 --> 00:06:22,720 Speaker 3: Oh so, you know, we heard a lot of you 120 00:06:22,759 --> 00:06:30,439 know this incoming Trump administration reminds me of JFK when 121 00:06:30,480 --> 00:06:35,079 he came into office, different being brought in the egghead, 122 00:06:35,240 --> 00:06:38,839 they called them, all these guys from Harvard, Yale, Ivy 123 00:06:38,920 --> 00:06:42,839 League come up with all these brilliant ideas that didn't 124 00:06:43,800 --> 00:06:48,319 but it was a period of great optimism. Now we 125 00:06:48,439 --> 00:06:53,959 got Trump here, bringing in billionaires and really bringing in 126 00:06:54,079 --> 00:06:59,040 people who actually got real life experience. And one thing 127 00:06:59,079 --> 00:07:01,879 they talked about the I don't know how theory it 128 00:07:01,959 --> 00:07:04,079 that is, but I'd love to see it. My felt 129 00:07:04,560 --> 00:07:09,439 is elimination of the federal income fact. How does that 130 00:07:09,480 --> 00:07:12,079 think It's possible. Can it not done? Well? 131 00:07:13,199 --> 00:07:15,000 Speaker 1: If we do what mech it is, Well, let me 132 00:07:15,000 --> 00:07:17,519 ask you this, Kerry. You have a company company, let's 133 00:07:17,560 --> 00:07:19,759 call it a USA company called that's the name of 134 00:07:19,759 --> 00:07:22,360 the company. It's called USA, and USA is a company 135 00:07:22,680 --> 00:07:28,600 has a product that it sells, which is protection security infrastructure. 136 00:07:28,759 --> 00:07:31,399 And you pay them in a form of a percentage 137 00:07:31,399 --> 00:07:33,759 of your wages. That's how you do it. And what 138 00:07:33,800 --> 00:07:36,879 they've done is they've capitalized it basically through debt instruments. 139 00:07:36,959 --> 00:07:39,040 They don't have any equity. You don't have equity, you 140 00:07:39,079 --> 00:07:41,160 have debt. So you have an ownership of this kind 141 00:07:41,199 --> 00:07:43,839 of through the debt. And the death that they have 142 00:07:43,959 --> 00:07:47,199 issued over the years is compounded dramatically because they needed 143 00:07:47,240 --> 00:07:51,560 to for a lot of unforeseen expenses. Now the debt 144 00:07:51,600 --> 00:07:55,199 is blossoming and the company is taking in revenue through 145 00:07:55,199 --> 00:07:58,759 a part of your income. And if we eliminate that, 146 00:07:59,240 --> 00:08:02,560 what other mechanisms do we have to pay down the 147 00:08:02,600 --> 00:08:05,120 debt interest and to pay off the debt and to 148 00:08:05,199 --> 00:08:09,560 fund the company's continuing security infrastructure. I don't see how 149 00:08:09,560 --> 00:08:11,160 it's possible. You see what I'm. 150 00:08:11,000 --> 00:08:15,120 Speaker 3: Doing there, right? Yeah, Well, so you're talking about income 151 00:08:15,160 --> 00:08:20,600 from tariffs, and the perhaps a national sales pack or 152 00:08:20,680 --> 00:08:23,160 maybe not a value added pack, but that I'm not 153 00:08:23,160 --> 00:08:24,480 sure what the difference really is. 154 00:08:24,519 --> 00:08:27,720 Speaker 1: Well, it's a consumption tax. It's a consumption tax. That's 155 00:08:27,839 --> 00:08:29,920 that's you know, that's are I mean, a VAT is 156 00:08:29,959 --> 00:08:34,559 a consumption tax. A sales tax is a consumption tax. 157 00:08:35,039 --> 00:08:40,519 The tariffs or a consumption tax. So now what you 158 00:08:40,559 --> 00:08:45,799 do with that is you cause the potential for inflation 159 00:08:46,200 --> 00:08:48,399 to a degree because things will cost more if you 160 00:08:48,399 --> 00:08:51,799 don't include the tariffs and the tax. Maybe not. You 161 00:08:52,720 --> 00:08:57,240 cause a potential consumption slow down potentially, but then again 162 00:08:57,240 --> 00:09:00,159 it's offset by the fact that you're not paying federal taxes. Right, 163 00:09:00,200 --> 00:09:02,399 I mean, look at look as that way. I just 164 00:09:02,440 --> 00:09:06,679 don't see is there anyone who's ever done that successfully? 165 00:09:07,000 --> 00:09:11,240 State of Florida. Can we use that as a Can 166 00:09:11,279 --> 00:09:14,320 we use that as a as a model maybe where 167 00:09:14,360 --> 00:09:15,879 it's all sales TACs in the state. 168 00:09:15,720 --> 00:09:20,799 Speaker 3: Tax Nine states don't have income factors, right, and those 169 00:09:21,399 --> 00:09:27,279 states that boom during the past decade, while the heavily 170 00:09:27,960 --> 00:09:31,200 packed loose states lack of a better term, but they 171 00:09:31,279 --> 00:09:35,039 generally are blue. But not all uh have not grown 172 00:09:35,559 --> 00:09:39,279 at the rate that the tax rates uh state path. 173 00:09:39,440 --> 00:09:45,159 So is it just a function that you know the 174 00:09:45,480 --> 00:09:54,000 Florida Kennethy, New Hampshire, Washington State, the North Dakota I 175 00:09:54,039 --> 00:09:57,320 think maybe South South Dakota. I know them all off 176 00:09:57,360 --> 00:10:00,440 the top of my head, but those dy Is it 177 00:10:00,559 --> 00:10:04,960 just the function of people avoiding pactes and that everybody 178 00:10:05,519 --> 00:10:09,759 saying we'd be in the same boat, or is there 179 00:10:09,799 --> 00:10:10,399 more to it? 180 00:10:11,559 --> 00:10:13,519 Speaker 1: I don't know. I think this is a really big 181 00:10:13,600 --> 00:10:16,279 question because there's been discussion about flat taxes that never 182 00:10:16,320 --> 00:10:19,320 seem to work, you know. But the problem is the 183 00:10:19,320 --> 00:10:22,000 complexity of our current tax system is a problem. There's 184 00:10:22,000 --> 00:10:24,240 no question about that. I think we'd all agree to this. 185 00:10:24,279 --> 00:10:26,919 I don't care who you are that the complexity of 186 00:10:27,000 --> 00:10:32,080 the taxes and the ability for people to work loopholes 187 00:10:32,720 --> 00:10:36,519 is a gigantic problem. The corporate tax system is also 188 00:10:36,559 --> 00:10:40,399 a problem. So simplification is I think the first step 189 00:10:40,759 --> 00:10:43,320 right before we can get into the idea of just elimination. 190 00:10:43,519 --> 00:10:47,279 I think simplification is a much more realistic way to go, 191 00:10:47,720 --> 00:10:49,480 and then from there what we could do is try 192 00:10:49,519 --> 00:10:54,039 to maybe merge into the idea of what ifs. But 193 00:10:54,120 --> 00:10:56,080 I don't think we could do it. I don't think 194 00:10:56,120 --> 00:11:00,240 it can be done with this massive debt overhanging we have. 195 00:11:00,279 --> 00:11:01,840 I think it's the biggest problem we have right now 196 00:11:01,879 --> 00:11:05,679 in our in our government and our economy that anybody 197 00:11:05,679 --> 00:11:08,679 that knows anything, if you are a household that has 198 00:11:08,840 --> 00:11:11,240 no debt compared to a household that has major debt, why, 199 00:11:11,279 --> 00:11:15,000 why is why has the Biden administration been so hell 200 00:11:15,080 --> 00:11:18,240 bent besides for votes, aside from that, put that aside 201 00:11:18,279 --> 00:11:20,559 for a second, why have they been so hell bent 202 00:11:21,039 --> 00:11:27,519 on reducing or eliminating disposing of student debt because they 203 00:11:27,639 --> 00:11:30,600 know the fact that from an economic standpoint, again, besides 204 00:11:30,639 --> 00:11:34,679 for votes, from an economic standpoint, when you graduate medical school, 205 00:11:34,759 --> 00:11:39,039 law school, graduate degree, even an undergrad and you have 206 00:11:39,120 --> 00:11:42,159 a massive amount of debt that's outstanding, it is going 207 00:11:42,200 --> 00:11:47,679 to curtail your ability to really buy a house potentially 208 00:11:48,840 --> 00:11:52,039 by goods grow. This overhang that you're going to have 209 00:11:52,120 --> 00:11:53,679 for a number of years is going to be it's 210 00:11:53,679 --> 00:11:56,759 going to be so constricting, it's going to be strangulating. 211 00:11:57,639 --> 00:11:59,440 And in the debt that we have now, if you 212 00:11:59,440 --> 00:12:01,000 want to expand that to the death that we have 213 00:12:01,120 --> 00:12:06,279 now as a country is so preposterous, It is so ridiculous. 214 00:12:06,279 --> 00:12:08,039 The only way we could do is inflate our ways 215 00:12:08,080 --> 00:12:11,120 out of it, or blow our currency out, which is 216 00:12:11,159 --> 00:12:14,840 basically what they're doing, right, the idea of devaluing and 217 00:12:15,120 --> 00:12:20,639 really looking at a currency to break it down, which 218 00:12:20,639 --> 00:12:22,919 they've tried to do. It's not working so well. Or 219 00:12:23,039 --> 00:12:27,200 inflate our ways out of the bond situation. We tried 220 00:12:27,200 --> 00:12:28,799 that for a number of years and we had COVID 221 00:12:29,120 --> 00:12:31,320 and then we had massive spending that we had continued 222 00:12:31,360 --> 00:12:35,240 massive spending. I don't think under Trump administration. I know 223 00:12:35,320 --> 00:12:40,600 there's the DOGE, I get it, the Department of Government. 224 00:12:41,360 --> 00:12:45,120 What's the government efficiency? 225 00:12:45,200 --> 00:12:45,360 Speaker 3: Right? 226 00:12:46,519 --> 00:12:48,200 Speaker 1: I don't know if that's going to really two trillion 227 00:12:48,240 --> 00:12:51,960 seems a little bit far fetched. But maybe they'll find 228 00:12:52,039 --> 00:12:54,639 something somewhere that they could say, have a few hundred billion, 229 00:12:54,639 --> 00:12:57,399 which would be great. I just don't know if that 230 00:12:57,679 --> 00:13:02,679 is going to be enough with we go, but that's 231 00:13:02,720 --> 00:13:03,240 what we need to do. 232 00:13:04,080 --> 00:13:07,919 Speaker 3: But if you're not touching Social Security or Medicare, then 233 00:13:08,000 --> 00:13:09,840 your hands they're kind of tied from the get go. 234 00:13:10,080 --> 00:13:13,279 But if you would just assume that for all the 235 00:13:13,320 --> 00:13:16,759 other departments, somewhere between thirty to sixty percent of the 236 00:13:16,799 --> 00:13:21,080 money is wasted, and even in social Security and Medicare. 237 00:13:21,399 --> 00:13:24,519 There are hundreds of billions of dollars a year of payment, 238 00:13:25,039 --> 00:13:27,159 wrongful payments that shouldn't be made. 239 00:13:27,360 --> 00:13:29,879 Speaker 1: That's a problem that I agree with that. I agree 240 00:13:29,879 --> 00:13:33,279 with that whole industry, the prescription industry, the Medicare. Social 241 00:13:33,279 --> 00:13:36,960 Security can't touch Medicare. On the other hand, the efficiency, well, 242 00:13:37,159 --> 00:13:40,200 there is fraud in socialcurity, but let's put that aside 243 00:13:40,200 --> 00:13:42,480 for a second, because that's a whole different discussion on 244 00:13:42,879 --> 00:13:46,240 how to deal with the fraud, right, But I agree 245 00:13:46,279 --> 00:13:49,080 with you Medicare and fraud in Medicare by the way, 246 00:13:49,399 --> 00:13:54,480 and just bloat, just stupidity. So that's going to be 247 00:13:54,480 --> 00:13:58,639 a big issue, I think, and not to mention the 248 00:13:59,639 --> 00:14:02,559 healthcare system in itself, and a lot of that's coming 249 00:14:02,600 --> 00:14:05,559 to light right now. More so, I think the I 250 00:14:05,559 --> 00:14:09,679 think the shroud has come off of the oh, you know, 251 00:14:09,720 --> 00:14:11,679 it's healthcare and it's just what it is. Right, I'm 252 00:14:11,679 --> 00:14:15,960 getting denied or I'm delayed, or you know, I'm going 253 00:14:16,039 --> 00:14:21,399 to have to get some multi level of authentication or 254 00:14:21,679 --> 00:14:25,399 or something involved with this. I think this whole unfortunate 255 00:14:26,039 --> 00:14:30,240 murder of the un h executive, you know, CEO Brian 256 00:14:30,320 --> 00:14:36,840 Thompson is awakening a reality that has been suppressed for 257 00:14:36,879 --> 00:14:41,000 a long time, which is that our healthcare system, the 258 00:14:41,039 --> 00:14:45,000 companies involved it, is a for profit. I mean, when 259 00:14:45,000 --> 00:14:47,320 Obamacare came in, did you ever in a million years 260 00:14:47,320 --> 00:14:51,799 think that the companies like Etna signa unh, we're going 261 00:14:51,879 --> 00:14:57,639 to be extraordinarily profitable or was it like doing you 262 00:14:57,679 --> 00:14:57,879 do it? 263 00:14:58,120 --> 00:15:00,480 Speaker 3: They wrote it, they wrote the program. 264 00:15:00,519 --> 00:15:03,000 Speaker 1: Well that's true also, but the idea was really to 265 00:15:03,879 --> 00:15:06,639 give the people a better shake, right, It wasn't that 266 00:15:06,639 --> 00:15:07,879 that that was the idea. 267 00:15:08,840 --> 00:15:11,519 Speaker 3: Yeah, well don't work out. I mean, I didn't want 268 00:15:11,519 --> 00:15:13,720 to get like into a political thing, and we've got 269 00:15:13,799 --> 00:15:18,519 more but AI ties into it. But we've never had 270 00:15:18,840 --> 00:15:24,240 a national health debate in the United States since since 271 00:15:24,279 --> 00:15:30,519 they basically banned cigarette advertising back in sixty all right, 272 00:15:30,919 --> 00:15:36,559 and created this educational feedbacks smoking bad, it will kill you. 273 00:15:37,360 --> 00:15:41,519 Back when we were kids growing up andrew half people 274 00:15:41,519 --> 00:15:43,960 out there smoked. Now I was one. 275 00:15:44,159 --> 00:15:47,960 Speaker 1: I was one of them. Marlboro, reds Man, Marlboro same here. 276 00:15:48,279 --> 00:15:51,600 Speaker 3: I love that, you know, and in wind. 277 00:15:51,480 --> 00:15:55,840 Speaker 1: Chapter let's stick that's something right there. 278 00:15:56,039 --> 00:16:00,679 Speaker 3: Dating myself. Wow. So we have this massive educatational thing 279 00:16:01,279 --> 00:16:05,519 and there's definitely left people dying from lung cancer and 280 00:16:05,960 --> 00:16:10,039 smoking related diseases than were in the past. Part disease 281 00:16:11,039 --> 00:16:15,559 still number one killer. But bringing an RFP junior. Whatever 282 00:16:15,600 --> 00:16:17,799 you think about the guy, and I'm not a personal 283 00:16:17,879 --> 00:16:23,759 fan ofies, but make America healthy again. That will go 284 00:16:23,879 --> 00:16:26,960 a long way towards the fixing the healthcare And it's 285 00:16:27,039 --> 00:16:31,279 kind of a long term educational investment. But we're seeing 286 00:16:31,360 --> 00:16:37,000 these companies who you know, usually in the most languages, 287 00:16:37,919 --> 00:16:42,559 for love, that's like tons and tons of words. But 288 00:16:42,720 --> 00:16:47,000 in the English language, we have more words for sugar 289 00:16:47,759 --> 00:16:50,480 than we do for love. You know, when you look 290 00:16:50,559 --> 00:16:53,639 on the side of a package, they have twenty five 291 00:16:53,720 --> 00:16:56,799 different ways of saying we're putting sugar in here, and 292 00:16:56,919 --> 00:17:00,399 it's bad for you. So that's educational thing that will 293 00:17:00,519 --> 00:17:03,840 solve the problem in the long run. Because eighty percent 294 00:17:04,119 --> 00:17:08,359 of most diseases, chronic diseases, which is what soaks up 295 00:17:08,400 --> 00:17:14,559 the bulk of netticare dollars, come from lifestyle, which means 296 00:17:14,759 --> 00:17:18,799 the people don't exercise and they eat garbage. 297 00:17:19,200 --> 00:17:21,079 Speaker 1: Right, hold on, hold on a second, I just got 298 00:17:21,119 --> 00:17:23,119 back from Europe. You know you're going down this path. 299 00:17:23,200 --> 00:17:23,839 Let's talk about it. 300 00:17:23,920 --> 00:17:24,039 Speaker 3: Right. 301 00:17:24,240 --> 00:17:25,599 Speaker 1: So I just got back from Europe. You look at 302 00:17:25,640 --> 00:17:27,759 some of the things that are going on with regard 303 00:17:27,839 --> 00:17:31,440 to the US what we have in our food, I mean, 304 00:17:31,519 --> 00:17:33,880 the processing, the prob let's just leave it there. Let's 305 00:17:33,880 --> 00:17:37,319 just nutshell, the whole thing and processing of food compared 306 00:17:37,359 --> 00:17:41,799 to other places. Now, life expectancy has increased worldwide over 307 00:17:42,200 --> 00:17:43,680 the years, right. I mean when I was a kid, 308 00:17:43,720 --> 00:17:46,440 it was like, you're dead at seventy. Now seventy is 309 00:17:46,519 --> 00:17:47,160 like the new forty. 310 00:17:47,880 --> 00:17:48,039 Speaker 3: Right. 311 00:17:48,559 --> 00:17:52,839 Speaker 1: So the fact is that one of the things is, 312 00:17:52,960 --> 00:17:55,599 you know, a healthier lifestyle and drugs and all that. 313 00:17:55,759 --> 00:17:58,359 But we still have the problem here in the United 314 00:17:58,400 --> 00:18:02,000 States a process food and people don't care McDonald people 315 00:18:02,039 --> 00:18:04,200 are going out to eat these fast foods. They don't 316 00:18:04,400 --> 00:18:06,759 that we're lazy, we don't want to make food. We 317 00:18:06,759 --> 00:18:08,359 don't want to be what they do in Italy. That 318 00:18:08,519 --> 00:18:11,079 somebody's preparing your food. You know, somebody in the family 319 00:18:11,160 --> 00:18:13,960 is actually preparing a meal. What do we do We 320 00:18:14,079 --> 00:18:16,680 get these tavola or we get these other kinds of 321 00:18:16,720 --> 00:18:19,039 things that says, oh God forbid, I have to cook, 322 00:18:19,119 --> 00:18:20,680 but I want to make it look like them cooking. 323 00:18:21,160 --> 00:18:23,759 So send me a package recond. Yeah, they put in 324 00:18:23,839 --> 00:18:27,000 the microwave, and that's a big problem. It's gonna take 325 00:18:27,079 --> 00:18:33,960 years to unwind into reprogram our. I think our collective 326 00:18:35,079 --> 00:18:37,400 understanding of what's good and what's bad. You know, it's 327 00:18:37,440 --> 00:18:39,799 pizza a really good meal for us. I mean, it's 328 00:18:39,799 --> 00:18:43,119 probably better than some of the stuff you see in 329 00:18:43,160 --> 00:18:45,839 the store that's been processed, right. 330 00:18:45,839 --> 00:18:49,440 Speaker 3: Better than Big Mac. Right, but maybe it depends. Like 331 00:18:49,799 --> 00:18:52,480 the new pizza pop places open up down the street 332 00:18:52,519 --> 00:18:56,000 from the here in Florida, and all of their stuff 333 00:18:56,839 --> 00:19:02,079 homemade the other to homemade, non GMO. The pasta is 334 00:19:02,400 --> 00:19:06,680 made fresh daily, the sauce is made from scratch, but hey, 335 00:19:06,880 --> 00:19:10,160 tomato sauce has sugar in it, but nonetheless not a 336 00:19:10,559 --> 00:19:13,279 ton of it. And yeah, it's healthier than. 337 00:19:13,400 --> 00:19:17,960 Speaker 1: That's that's natural. I natal from the tomatoes trend. 338 00:19:18,480 --> 00:19:23,279 Speaker 3: The trend is the healthy because what we're seeing. We 339 00:19:23,400 --> 00:19:26,720 follow trends because that's how we make money. AI is 340 00:19:26,799 --> 00:19:29,839 the trend where I think the profits will be enormous. 341 00:19:29,880 --> 00:19:35,519 We'll talk about that. Healthy dining choice is educational programs 342 00:19:36,039 --> 00:19:39,400 so that you know when you're eating food whether it 343 00:19:39,519 --> 00:19:42,839 has potential to arm you over the long howl. Because 344 00:19:42,880 --> 00:19:45,599 that's the thing when you're eating big Macs for twenty years, 345 00:19:46,279 --> 00:19:48,880 you know, it's one thing when you're smoking a cigarette 346 00:19:49,119 --> 00:19:52,519 that every cigarette takes six minutes off your life. That 347 00:19:52,799 --> 00:19:54,839 was what they sold us back then, which may or 348 00:19:54,880 --> 00:19:57,119 may not have been true. But you don't think of 349 00:19:57,519 --> 00:20:00,640 each big Mac that I consume with fry and the 350 00:20:00,759 --> 00:20:07,000 super size the coke, it's taking minutes off my life 351 00:20:07,240 --> 00:20:09,200 every time I eat it, right, right? 352 00:20:09,279 --> 00:20:11,440 Speaker 1: So from a stock so let me just weave this 353 00:20:11,519 --> 00:20:15,160 into the area if you because it is an investment show, right, So, 354 00:20:15,480 --> 00:20:18,319 so is this something that we should be shorting McDonald's. 355 00:20:18,400 --> 00:20:18,759 Speaker 3: I don't know. 356 00:20:19,160 --> 00:20:21,559 Speaker 1: I wouldn't bet against that, right now, Chipotle? Do we 357 00:20:21,640 --> 00:20:24,799 short that? I mean, it's had problems. And then you 358 00:20:24,839 --> 00:20:28,160 add in the lily or the the A A Y 359 00:20:28,240 --> 00:20:30,880 C and hib or drugs out there that are caused 360 00:20:30,880 --> 00:20:33,559 you know that are much more popular. 361 00:20:35,599 --> 00:20:40,400 Speaker 3: Hey, well, you know and bit controversy over those weight 362 00:20:40,519 --> 00:20:45,200 loss drugs. I've taken them, picked myself and looked fourteen 363 00:20:45,279 --> 00:20:48,359 pounds and didn't have to keep taking it forever. To 364 00:20:48,480 --> 00:20:51,960 keep that weight off again, I exercised like a fiend, 365 00:20:52,359 --> 00:20:55,960 so I had zero muckle lots. In fact, my weight 366 00:20:56,440 --> 00:21:01,480 resistant actually increased while it was eight though. Yeah, if 367 00:21:01,519 --> 00:21:04,079 you're a prapped potato and you're going to passively lose 368 00:21:04,160 --> 00:21:07,559 weight that back on the pack can walk ev right, 369 00:21:07,680 --> 00:21:10,680 then yeah, you're gonna lose muffle and you're gonna lose fat. 370 00:21:11,119 --> 00:21:15,440 But the very thing, the very act of lowering your 371 00:21:16,960 --> 00:21:22,319 obesity or overweight state, it's healthier, all right. Now. You 372 00:21:22,400 --> 00:21:24,480 don't want to be taking these drugs the rest of 373 00:21:24,519 --> 00:21:27,839 your life, but anything that will do that to help 374 00:21:27,920 --> 00:21:32,440 you in your goal. Are trolling your weight, as long 375 00:21:32,440 --> 00:21:35,519 as it's not abused and it doesn't become a lifelong dependency, 376 00:21:36,039 --> 00:21:37,440 is a good thing in my opinion. 377 00:21:37,839 --> 00:21:39,519 Speaker 1: I have a little bit of disagreement, by the way. 378 00:21:39,880 --> 00:21:42,599 I don't know necessarily that if in fact there are 379 00:21:42,680 --> 00:21:45,359 no significant side effects, If if if there are no 380 00:21:45,440 --> 00:21:48,079 significant side effects, and in fact, if it just does 381 00:21:48,240 --> 00:21:51,519 regulate the body's ability to metabolize food better, I'm not 382 00:21:51,640 --> 00:21:55,319 exactly sure if in fact it's not something that can't 383 00:21:55,359 --> 00:21:57,519 be taken for a long period of time. One of 384 00:21:57,559 --> 00:21:58,880 the one of the problems we have here. We know 385 00:21:59,400 --> 00:22:06,039 that diet high glucose is a real big problem, and bigger, 386 00:22:06,079 --> 00:22:09,559 bigger than just simply saying well, I have diabetes. No, 387 00:22:09,839 --> 00:22:12,519 I'm talking about the impact on other organs of the 388 00:22:12,599 --> 00:22:15,200 body and what it does. And they'll be CD in 389 00:22:15,400 --> 00:22:17,200 itself or at least overweight. 390 00:22:17,279 --> 00:22:17,519 Speaker 3: You know that. 391 00:22:17,640 --> 00:22:20,240 Speaker 1: Everybody's like, ah, I'm not obese. Okay, you're overweight. You're 392 00:22:20,240 --> 00:22:21,720 not skinny as a rail. You got too much to 393 00:22:21,759 --> 00:22:24,599 carry it on your frame. That also is around the heart, 394 00:22:24,680 --> 00:22:26,799 the fat, right, all that that that that is a 395 00:22:26,839 --> 00:22:29,720 problem and at least to other other issues. And in fact, 396 00:22:29,839 --> 00:22:33,680 if if this is the miracle drug, if if IF, 397 00:22:34,440 --> 00:22:39,200 whether it's the semaglutides or whether it is the trisipotines 398 00:22:39,359 --> 00:22:40,000 or whatever. 399 00:22:40,680 --> 00:22:44,519 Speaker 3: You know, companies do what called criple g, which is 400 00:22:44,839 --> 00:22:53,519 to be better than evmpic or manjara. That's zech I fiery, Yeah, 401 00:22:53,920 --> 00:22:58,880 criple g. It's in the evolution from theide and it's 402 00:22:59,240 --> 00:22:59,640 from Lily. 403 00:23:00,160 --> 00:23:00,680 Speaker 1: Is that from Lily? 404 00:23:01,720 --> 00:23:04,480 Speaker 3: I think? Yeah, we're interesting. 405 00:23:05,000 --> 00:23:08,920 Speaker 1: They just increased their share, buyback and dividend by the way, 406 00:23:08,960 --> 00:23:09,440 just recently. 407 00:23:10,440 --> 00:23:15,039 Speaker 3: Yeah, and you know, like, look, i've fast, did I've 408 00:23:15,119 --> 00:23:18,880 lost weight naturally? All right? I lost weight when I 409 00:23:18,920 --> 00:23:22,400 had COVID and uh, you know, and I kept the 410 00:23:22,440 --> 00:23:25,920 weight off he is keeping it off. You don't want 411 00:23:25,960 --> 00:23:29,720 to go yo, that's really bad for you. But anything 412 00:23:29,759 --> 00:23:33,279 that aids in that thing that doesn't do significant long 413 00:23:33,400 --> 00:23:34,039 term damage. 414 00:23:35,160 --> 00:23:38,079 Speaker 1: Yeah, that's what I'm talking about. So that's why the 415 00:23:38,079 --> 00:23:39,880 stock is. That's that's why lilies died so well. 416 00:23:40,839 --> 00:23:44,119 Speaker 3: Yeah, easier to keep the weight off than it did 417 00:23:44,240 --> 00:23:47,960 to loose and that he that's what they don't talk about. 418 00:23:48,279 --> 00:23:52,160 But yeah, we were eating healthy food and we weren't programmed. 419 00:23:52,400 --> 00:23:56,799 You know, the original biohacking, in my opinion, started with 420 00:23:56,960 --> 00:24:01,240 the barbecue hated hip because they figured out that they 421 00:24:01,279 --> 00:24:06,200 could put in sugar, salt, and vinegar and it would 422 00:24:06,240 --> 00:24:10,000 basically turn off your society s which remember you can't 423 00:24:10,119 --> 00:24:14,359 just eat one. And that's the thing, all these flavored 424 00:24:14,480 --> 00:24:16,920 the potato chips. And then we have the advent of 425 00:24:17,000 --> 00:24:20,839 the food kitchen, you know, the corporate food kitchen that 426 00:24:22,079 --> 00:24:24,680 you know, formulate the things so you just keep eating 427 00:24:24,720 --> 00:24:27,920 and eating. And you know, they got rid of pain 428 00:24:28,039 --> 00:24:33,279 sugar which which would trigger satiety switch in your brain, 429 00:24:33,559 --> 00:24:36,160 and they gave us hiproof post corn syrup. So this 430 00:24:36,359 --> 00:24:40,000 is a friend. Let's get to AI. That's you know, 431 00:24:41,400 --> 00:24:44,359 we know that AI is rapidly evolving. You and I 432 00:24:44,559 --> 00:24:47,079 both use it in our work. I've just used it 433 00:24:47,279 --> 00:24:49,759 to help me write a book of my interviews with 434 00:24:49,920 --> 00:24:56,279 a famous economist named Martin Armstrong. Fourteen years work of interviews, 435 00:24:56,759 --> 00:25:00,079 I managed to write a book in several weeks. And 436 00:25:00,799 --> 00:25:04,680 I've got a f chat GPP. What edd ten industries 437 00:25:05,160 --> 00:25:07,880 where AI will have the most section, And I'll just 438 00:25:08,039 --> 00:25:09,559 let me just list them and then we can go 439 00:25:09,720 --> 00:25:18,119 over with pet health care, transportations, not kidding, finance, retail 440 00:25:18,240 --> 00:25:25,720 and e commerce, manufacturing, education, we'll see about that one, legal, definitely, 441 00:25:26,359 --> 00:25:33,279 customer service, media and entertainment, and agriculture. So of the 442 00:25:33,640 --> 00:25:36,039 top ten, which do you think of the which three 443 00:25:36,079 --> 00:25:37,640 would you say the most significant? 444 00:25:38,480 --> 00:25:42,119 Speaker 1: So healthcare I think is really interesting that one, particularly 445 00:25:42,200 --> 00:25:47,559 for example, brittiology. Right, so let's just break it down 446 00:25:47,599 --> 00:25:49,880 to its simplest terms. Right, take an X ray, somebody 447 00:25:49,920 --> 00:25:51,799 looks at it, Okay, what's the deal you brooke your 448 00:25:51,839 --> 00:25:54,039 late whatever, right or something of that age. 449 00:25:54,119 --> 00:25:54,519 Speaker 3: Or an MRI. 450 00:25:55,680 --> 00:25:59,960 Speaker 1: You're taking an MRI, it's reviewed and oh there's a 451 00:26:00,079 --> 00:26:01,960 spot or there's something going on, what is it? 452 00:26:02,119 --> 00:26:02,279 Speaker 3: Right? 453 00:26:02,759 --> 00:26:05,839 Speaker 1: Well, that's great. What about the things that are missed? 454 00:26:06,480 --> 00:26:06,599 Speaker 3: Right? 455 00:26:06,680 --> 00:26:09,480 Speaker 1: What about the it's a human eye that's looking at something. 456 00:26:09,759 --> 00:26:12,319 There's an X ray of the femur, of the tibia 457 00:26:12,480 --> 00:26:14,680 of I don't know what your ribs, whatever it is, 458 00:26:15,160 --> 00:26:18,799 And all of a sudden, you know, there's something to 459 00:26:18,920 --> 00:26:22,000 the bottom right of the screen. We're not quite sure 460 00:26:22,039 --> 00:26:26,279 what that is, and it's overlooked, whereas AI or better 461 00:26:26,359 --> 00:26:30,480 computing has the opportunity to look at that and say, well, 462 00:26:30,519 --> 00:26:34,079 you know what that looks like this that I have 463 00:26:34,200 --> 00:26:36,119 in my memory bank. So it's not just relying on 464 00:26:36,240 --> 00:26:40,519 a great radiologist, right, So a great radiologist may have 465 00:26:40,559 --> 00:26:45,279 found that, well, your average radiologists may not have. So 466 00:26:45,440 --> 00:26:48,480 the thing is that you are now instead of going 467 00:26:48,720 --> 00:26:53,400 at a random radiologist that may be the greatest or 468 00:26:53,599 --> 00:26:57,000 the most, the worst, or an average radiologist, you have 469 00:26:57,079 --> 00:27:01,160 the memory bank and the ability that is constantly changing 470 00:27:01,200 --> 00:27:04,799 and updating of an AI radiologist. Let's call it, right, 471 00:27:05,160 --> 00:27:07,720 doctor AI radiologists to now be looking at your X 472 00:27:07,799 --> 00:27:10,519 rays or MRI scrans, your cat scans, whatever whatever that 473 00:27:10,599 --> 00:27:14,920 particular situation is, and having all that other fingertips to 474 00:27:16,440 --> 00:27:19,440 give you a better diagnosis, then give it to the 475 00:27:19,519 --> 00:27:23,920 doctor and let them then further bring that to what 476 00:27:24,200 --> 00:27:26,200 has to be done. So I think that's this one 477 00:27:26,839 --> 00:27:31,759 little aspect of healthcare. How about drug interactions. So you 478 00:27:31,880 --> 00:27:38,160 have a situation where the pharmacy is dispensing a particular drug, 479 00:27:38,680 --> 00:27:40,480 and then there may be something in the system abou 480 00:27:40,559 --> 00:27:43,680 drug interactions, but maybe there's more information that can be 481 00:27:43,720 --> 00:27:47,240 fed into there about your health history that would say no, no, 482 00:27:47,440 --> 00:27:49,119 this drug is not going to work with that drug 483 00:27:49,200 --> 00:27:51,559 because of this to be better stuited with that drug, 484 00:27:51,799 --> 00:27:52,279 right or. 485 00:27:52,319 --> 00:27:52,799 Speaker 3: Whatever it is. 486 00:27:53,759 --> 00:27:55,400 Speaker 1: So there's a whole host of things that you can 487 00:27:55,480 --> 00:27:59,240 look at from an AI standpoint in the healthcare area. 488 00:28:00,079 --> 00:28:07,119 That even includes better robotic surgeries, that includes potentially better 489 00:28:07,240 --> 00:28:10,079 nutrition guides. I mean, the list goes on, because what 490 00:28:10,200 --> 00:28:14,279 you're doing is you're centralizing the knowledge, and then you're 491 00:28:14,880 --> 00:28:18,480 enabling the ability of that centralized knowledge. Let's call it, 492 00:28:19,200 --> 00:28:22,119 you know, doctor health. Let's just keep it at that 493 00:28:22,799 --> 00:28:26,319 to then train and look at all the different things 494 00:28:26,319 --> 00:28:29,920 that are going on and utilizing the inputs to further expand. 495 00:28:30,319 --> 00:28:33,200 So now instead of having pick your number of doctors 496 00:28:33,240 --> 00:28:36,039 out there in a particular space in a particular specialty 497 00:28:36,599 --> 00:28:38,440 that you may be just doing it and going to 498 00:28:38,519 --> 00:28:43,319 that doctor due to proximity, which is yeah, ninety nine 499 00:28:43,640 --> 00:28:45,839 nine percent of why you're going to that doctor's proximity. 500 00:28:46,640 --> 00:28:50,200 Speaker 3: Right, they're just super market right now. 501 00:28:50,359 --> 00:28:52,880 Speaker 1: Some doctors are different. You know, there's maybe some specialists 502 00:28:52,880 --> 00:28:54,960 that you want to visit in Tampa or there, or 503 00:28:55,160 --> 00:28:58,519 New York or California, wherever it may be. But generally speaking, 504 00:28:58,599 --> 00:29:00,839 you know the dentist I go to, I just not 505 00:29:01,079 --> 00:29:03,599 schlep in thirty five minutes to go to this guy 506 00:29:03,880 --> 00:29:05,599 when these people are five minutes away and they did 507 00:29:05,640 --> 00:29:07,960 a great job, and if something goes wrong, I'll schlep. 508 00:29:09,680 --> 00:29:12,359 But that's the number one, well one of the top, 509 00:29:12,480 --> 00:29:16,839 not number one, not in the top. I think customer 510 00:29:16,960 --> 00:29:21,359 service where there is none in some places. It used 511 00:29:21,359 --> 00:29:22,599 to be that you had a phone number that you 512 00:29:22,640 --> 00:29:24,759 would call all the time, make it very easy. Then 513 00:29:24,799 --> 00:29:27,519 there was the advent of an email, right, you'd find 514 00:29:27,559 --> 00:29:30,799 it somewhere or it would be a button. Now websites 515 00:29:30,799 --> 00:29:33,839 don't even have anywhere for you to call. You can't 516 00:29:33,880 --> 00:29:35,960 call anybody. Can you call anybody for customer service? 517 00:29:36,480 --> 00:29:37,079 Speaker 3: You have to dig. 518 00:29:37,359 --> 00:29:40,319 Speaker 1: You have to dig pretty hard, right, it's at the 519 00:29:40,359 --> 00:29:43,920 bottom three clicks in with first chat to us. Then 520 00:29:44,000 --> 00:29:45,359 do you really want to make a phone call? Do 521 00:29:45,440 --> 00:29:47,160 you really want to speak to somebody? I have the 522 00:29:47,279 --> 00:29:49,759 entwest now if we can get used to and get 523 00:29:49,799 --> 00:29:54,240 a good reacting chat pot that actually has answers, not 524 00:29:54,519 --> 00:29:56,599 just at the end of it, I'm sorry, you know, 525 00:29:56,759 --> 00:30:00,400 not just a stoling mechanism that most of these help 526 00:30:00,519 --> 00:30:07,000 support systems are. And and I think that could be 527 00:30:07,599 --> 00:30:13,319 tremendously helpful for individuals that need it and companies that 528 00:30:13,960 --> 00:30:18,200 don't need to spend the money on. Unfortunately places that 529 00:30:18,519 --> 00:30:23,440 we've we've banished them to, like India and areas outside 530 00:30:23,480 --> 00:30:28,799 of the US where you have the supports centers. Third 531 00:30:29,599 --> 00:30:32,319 finance is interesting, but for other reasons. I think there's 532 00:30:32,319 --> 00:30:35,279 an interesting aspect of finance, but I think it's compartmentalized. 533 00:30:35,279 --> 00:30:37,559 I think people still are going to need if we 534 00:30:37,640 --> 00:30:39,720 go all AI for finance. I just I don't I 535 00:30:39,759 --> 00:30:43,480 don't see it. It just then then it just it 536 00:30:43,640 --> 00:30:45,759 neutralizes everything. And I just don't see the ability for 537 00:30:45,799 --> 00:30:48,279 anybody to have better performance than anybody else. And what's 538 00:30:48,319 --> 00:30:50,559 the point if that's not the case. I don't see it. 539 00:30:50,599 --> 00:30:53,039 It's a neutral point. There are some areas that will 540 00:30:53,039 --> 00:30:56,559 be very helpful from a research standpoint. Clearly, being able 541 00:30:56,599 --> 00:30:59,240 to review and research a stock I mean obviously a 542 00:30:59,279 --> 00:31:03,160 lot faster, being able to look at historical trends and 543 00:31:03,279 --> 00:31:04,640 analyze those a little bit better. 544 00:31:04,960 --> 00:31:05,440 Speaker 3: No question. 545 00:31:06,920 --> 00:31:12,799 Speaker 1: Legal contract writing, clearly, I mean it's a lot of 546 00:31:12,839 --> 00:31:15,599 this can be done today. But if AI really comes 547 00:31:15,640 --> 00:31:19,000 out in a better way to make it a much 548 00:31:19,039 --> 00:31:21,279 more usable and use a friendly way, I think that's 549 00:31:21,480 --> 00:31:21,920 that's great. 550 00:31:21,960 --> 00:31:24,519 Speaker 3: What are some of the other ones you mentioned, you know, 551 00:31:25,359 --> 00:31:32,000 just legal, because I'm a recovering attorney, there's no institution 552 00:31:32,200 --> 00:31:37,799 that it's less efficient than our court. They're the least 553 00:31:37,920 --> 00:31:42,799 efficient means of resolving dispute. The way they're managed. The 554 00:31:42,960 --> 00:31:46,359 judges or you know, the judge average starts works half 555 00:31:46,400 --> 00:31:50,279 a day. You know in some places be surprised and 556 00:31:50,480 --> 00:31:52,880 the case is keep piling up and piling up. 557 00:31:53,319 --> 00:31:55,839 Speaker 1: Well, what about the law officers, Kerry, What about the 558 00:31:55,880 --> 00:31:57,839 fact that what I deal with a lawyer, I'm dealing 559 00:31:57,920 --> 00:32:01,680 with three layers and three bills at the same time. Yeah, 560 00:32:02,039 --> 00:32:04,880 I mean that's absurd. Right, you send something in, the 561 00:32:04,920 --> 00:32:07,279 administrator copies it, and you've got to be five dollars 562 00:32:07,319 --> 00:32:09,039 for that. They send it back to you. Thing, thank 563 00:32:09,079 --> 00:32:11,279 you that's a five minute charge. Then they got to 564 00:32:11,319 --> 00:32:13,160 go through the next person, the next person, and everybody's 565 00:32:13,200 --> 00:32:17,680 doing one piece is three times the charge it should be. 566 00:32:18,680 --> 00:32:22,279 Speaker 3: Well, I always say anyone who says that crime doesn't pay, 567 00:32:22,720 --> 00:32:31,519 obviously path the bar exam so law and the inefficiency 568 00:32:31,759 --> 00:32:38,000 like the purpose of the judicial peaceably settle dispute among 569 00:32:38,079 --> 00:32:43,599 the residents and the inhabitants of the country. And when 570 00:32:43,680 --> 00:32:47,759 it starts failing in that role, the you know, bad 571 00:32:47,839 --> 00:32:52,480 things happened to society. So anything that can help make 572 00:32:52,559 --> 00:32:56,000 the judicial that's the more efficient. And then you also 573 00:32:56,160 --> 00:33:00,559 have that situation where big big X Y Z operation 574 00:33:00,880 --> 00:33:04,799 and little John Doe. You know, John Doe has been 575 00:33:05,039 --> 00:33:09,319 legitimately agreed, but he can't order to go up against them. 576 00:33:09,359 --> 00:33:13,359 But now maybe with the upcoming AI, he'll be able 577 00:33:13,400 --> 00:33:16,079 to do most of it on his own, and then 578 00:33:16,200 --> 00:33:19,400 the cord will be is an AI to figure out 579 00:33:20,400 --> 00:33:23,519 what's going on here, right right, right? 580 00:33:24,400 --> 00:33:28,119 Speaker 1: I agree, I agree. Maybe maybe it's it's an interesting concept. 581 00:33:28,200 --> 00:33:33,759 I just think that that there's a lot of other 582 00:33:33,839 --> 00:33:38,039 industry areas that will create more efficiency. Some of them 583 00:33:38,079 --> 00:33:40,119 are like, yeah, I would love that to happen. That 584 00:33:40,160 --> 00:33:43,519 would be great. You know, I mean that would be wonderful. 585 00:33:44,000 --> 00:33:46,319 The others that well, man, why hasn't that happened already? 586 00:33:46,400 --> 00:33:49,880 In the efficiency will be cost savings and that can 587 00:33:49,920 --> 00:33:53,279 be passed along or made companies more profitable. That that's 588 00:33:53,319 --> 00:33:55,319 the thinking right now, right we're in the stage of 589 00:33:55,359 --> 00:33:58,279 AI that anybody's excited about the fact that the opportunity 590 00:33:58,359 --> 00:34:01,200 is there for creating cost efficient see across you know, 591 00:34:01,640 --> 00:34:04,640 many places with the idea once again that people are 592 00:34:04,680 --> 00:34:06,759 not going to be displaced, which I do not believe. 593 00:34:07,559 --> 00:34:11,480 I think that we continually displace people and it's like, yeah, 594 00:34:11,480 --> 00:34:14,119 able to get a job somewhere else, Okay, where go 595 00:34:14,239 --> 00:34:18,360 on technology? Doing what coding? Well wait, didn't we just 596 00:34:18,400 --> 00:34:20,000 talk about the AIS and taking over the coding. 597 00:34:20,639 --> 00:34:22,239 Speaker 3: Yeah, they could go right. 598 00:34:22,519 --> 00:34:25,719 Speaker 1: I gived example of something DH Unplugged. Each and every 599 00:34:25,760 --> 00:34:27,920 week we have a show John cy Devoric myself, you 600 00:34:28,000 --> 00:34:30,880 listen to that, I know, and we have cover art 601 00:34:30,960 --> 00:34:33,840 for each episode. So in the past we've had various 602 00:34:33,840 --> 00:34:36,320 places do covered art or we would we would have 603 00:34:36,559 --> 00:34:40,480 listeners with sending cover art or would use you know, 604 00:34:40,960 --> 00:34:44,000 not custom but you know, off just just a some 605 00:34:44,280 --> 00:34:47,199 something that would represent and we put some words on it. 606 00:34:47,280 --> 00:34:51,960 Whatever Now chat GPT, I need a landscape podcast cover 607 00:34:52,159 --> 00:34:55,880 art with two guys talking into a microphone. It's Christmas time. Up, 608 00:34:55,880 --> 00:34:58,960 it's Christmas time. The money flying everywhere. The name of 609 00:34:59,000 --> 00:35:04,480 the podcast is DHM. Make one of the players, one 610 00:35:04,519 --> 00:35:07,880 of the one of the podcast hosts tolls in the 611 00:35:07,880 --> 00:35:10,079 other blah blah blah blah, and then you get three 612 00:35:10,079 --> 00:35:12,360 different versions cover art done. 613 00:35:13,199 --> 00:35:16,360 Speaker 3: Amazing It lest than for a five minutes. 614 00:35:16,360 --> 00:35:17,400 Speaker 1: In less than five minutes. 615 00:35:18,920 --> 00:35:24,480 Speaker 3: I used to pay somebody between twelve to fifteen hundred 616 00:35:24,519 --> 00:35:27,239 dollars a month to do my show notes if I 617 00:35:27,360 --> 00:35:30,320 do one show a day on average, sometimes a little more. 618 00:35:31,039 --> 00:35:35,519 And then I got the note taker for Zoom, and 619 00:35:35,639 --> 00:35:38,920 then I fed the note ten to chat GPT. It 620 00:35:39,000 --> 00:35:42,440 gets done instantaneously. It's ninety five percent of the way there. 621 00:35:42,639 --> 00:35:46,039 I can fill the rep myself, and my workfloads become 622 00:35:46,159 --> 00:35:51,440 so much more efficient. And you know the thing is, 623 00:35:51,800 --> 00:35:56,000 we see it happening now, but we have no idea 624 00:35:56,360 --> 00:35:59,039 how fast it's going to happen. Andrew, like, I will 625 00:35:59,159 --> 00:36:01,880 just tell you, like, I'm a proud Tesla earner, not 626 00:36:02,039 --> 00:36:04,599 because I think I'm saving the planet, because I love 627 00:36:04,679 --> 00:36:09,039 the tech driving a diperience graded car, ever, and the 628 00:36:09,159 --> 00:36:14,119 abidity to continually upgrade a product that normally you would buy. 629 00:36:14,840 --> 00:36:17,079 You'd buy the car, and then from that. 630 00:36:17,239 --> 00:36:20,079 Speaker 1: Point on it just got worse and worse and work 631 00:36:20,280 --> 00:36:21,199 I guess, I guess older. 632 00:36:21,960 --> 00:36:25,679 Speaker 3: Yeah, the test what never happens. It's always something new. 633 00:36:26,079 --> 00:36:29,519 Now that full self driving. Now, I've been doing it 634 00:36:29,599 --> 00:36:31,760 for about two and a half years, and I said, 635 00:36:31,760 --> 00:36:33,519 if you'd like to let that thing do the full 636 00:36:33,559 --> 00:36:37,000 self driving, you'll die back two years ago, three and 637 00:36:37,039 --> 00:36:41,719 a half years ago, maybe three now now I had. 638 00:36:41,840 --> 00:36:45,800 I just upgraded, updated the latest version. I haven't gotten 639 00:36:45,840 --> 00:36:48,840 to use it yet, but I've been watching videos where 640 00:36:48,880 --> 00:36:51,639 the thing does you turn, You push a button, the 641 00:36:51,760 --> 00:36:54,000 backs out of your car, out of your driveway, out 642 00:36:54,039 --> 00:36:57,719 of your garage, closes the garage and takes you where 643 00:36:57,760 --> 00:36:59,599 you're going to go, and then you point to a 644 00:36:59,679 --> 00:37:05,239 space in a park. And that's But the gulp of 645 00:37:05,360 --> 00:37:08,880 the improvement didn't happen over the past two and a 646 00:37:08,920 --> 00:37:12,239 half years. It happened over the PEP thread to four 647 00:37:12,440 --> 00:37:19,119 months when the AI started watching Louvie of people driving 648 00:37:19,480 --> 00:37:22,480 instead of trying to program for it, and it learned 649 00:37:22,519 --> 00:37:26,159 on its own and I think in another six months, 650 00:37:26,400 --> 00:37:29,360 a sure we could have FSP. Does that make pet 651 00:37:29,400 --> 00:37:32,280 Flow buy or does that make it easier for somebody 652 00:37:32,360 --> 00:37:35,840 else come along and replicate what they're doing, some Chinese 653 00:37:35,920 --> 00:37:36,719 company or whatever. 654 00:37:39,480 --> 00:37:41,719 Speaker 1: I mean it's truth, is that does it make Tesla buy? 655 00:37:41,880 --> 00:37:45,800 I mean since the well since the election, test has 656 00:37:45,800 --> 00:37:49,679 been going vertical right over four hundred dollars per share 657 00:37:49,800 --> 00:37:52,400 right now on no new news and in fact, on 658 00:37:52,639 --> 00:37:57,480 the potential for you know, concerning trade action against China 659 00:37:57,760 --> 00:38:02,960 or with China, and fuller full self drive FSD doesn't happen. 660 00:38:03,320 --> 00:38:04,480 Is it getting better? Is that why? 661 00:38:04,599 --> 00:38:04,800 Speaker 3: I mean? 662 00:38:04,840 --> 00:38:07,880 Speaker 1: I think it's all about really the regulation and favoritism 663 00:38:07,960 --> 00:38:10,360 of what Musk is going to get because of who 664 00:38:10,440 --> 00:38:13,679 he helped get into the White House, Right, That's more 665 00:38:13,760 --> 00:38:18,519 so what it's about. But but but Tesla, I don't 666 00:38:18,559 --> 00:38:21,079 think it's worth the value that is worth right now. 667 00:38:21,119 --> 00:38:21,599 Speaker 3: There's no way. 668 00:38:22,000 --> 00:38:26,039 Speaker 1: I mean, the company was actually in the two hundreds 669 00:38:26,119 --> 00:38:29,559 not too long ago because the numbers that came out 670 00:38:29,599 --> 00:38:33,039 from buying. Now, will all the Conservatives turn around and 671 00:38:33,079 --> 00:38:37,599 all of a sudden love elon because he helped and 672 00:38:37,679 --> 00:38:40,880 buy Tesla's At the same time, the Trump administration is 673 00:38:40,880 --> 00:38:43,960 already talking about the incoming it's talking about removing the 674 00:38:44,079 --> 00:38:47,920 tax credits, so you should which they should. Well, that's 675 00:38:47,960 --> 00:38:51,880 not great for Tesla and probably won't matter that much. 676 00:38:52,760 --> 00:38:56,119 Speaker 3: You know. The other thing with Tesla though, is that 677 00:38:57,039 --> 00:39:02,519 through their AI and through their system, they continually lowered cost. Yes, 678 00:39:02,719 --> 00:39:06,719 for the most part, lipping plunging lipping, and prices didn't 679 00:39:06,800 --> 00:39:10,159 hurt either, But the average cost of the PETLA is 680 00:39:10,360 --> 00:39:13,079 like less than it was the three four years ago 681 00:39:13,199 --> 00:39:17,760 to produce it, right, And that's something that that American 682 00:39:17,920 --> 00:39:22,559 industry largely has been incapable of during my lifetime. Yep, 683 00:39:22,719 --> 00:39:27,239 I hear you so interesting thing. I guess it actually 684 00:39:27,280 --> 00:39:31,000 the AI of all the industry that everything that we 685 00:39:31,159 --> 00:39:34,719 deal with day in day out. What industry do you 686 00:39:34,800 --> 00:39:37,360 think will be impacted the most by AI? 687 00:39:38,079 --> 00:39:41,480 Speaker 1: I think healthcare is well technology, but put that aside, 688 00:39:41,519 --> 00:39:43,920 that's obvious that that's I don't think we have to 689 00:39:44,159 --> 00:39:47,760 talk about that. I do think, I mean, finan it's interesting, 690 00:39:47,880 --> 00:39:50,000 like you said, you know, healthcare is probably the number 691 00:39:50,039 --> 00:39:51,239 one that I could think off of the top of 692 00:39:51,320 --> 00:39:58,719 my head. That would be transportations, interesting, infrastructure not so much. 693 00:39:58,800 --> 00:40:01,239 You still need you know, see any picks and shovels, 694 00:40:01,280 --> 00:40:04,280 people breaking their backs to do things. I mean, I 695 00:40:04,559 --> 00:40:09,880 would think that healthcare could be a significant overall significant. 696 00:40:09,880 --> 00:40:12,719 Speaker 3: Yeah, I think you're right. I think you're right, and 697 00:40:14,320 --> 00:40:20,840 on multiple level. The ability to get to gettant up 698 00:40:20,880 --> 00:40:24,719 to date information on what you're eating right and and 699 00:40:25,119 --> 00:40:29,480 the drugs you're taking. And then the ability where doctors 700 00:40:30,000 --> 00:40:34,360 to not make mistakes. Maybe we'll be having the robots 701 00:40:34,440 --> 00:40:37,079 in the hospital and that will be. 702 00:40:37,280 --> 00:40:40,320 Speaker 1: We have them, we have them already. But what's interesting, 703 00:40:40,440 --> 00:40:42,800 you know, if you want just confirmation of this, just 704 00:40:42,840 --> 00:40:45,199 looking no further than Apple and why they are all 705 00:40:45,400 --> 00:40:49,239 in on the Apple Watch and the healthcare and what 706 00:40:49,280 --> 00:40:53,360 they're doing with blood and pulse and O two SATs 707 00:40:53,440 --> 00:40:55,800 and everything that's going on, everything that's going on with 708 00:40:56,960 --> 00:40:59,199 the Apple Watch. I one day will have an Apple 709 00:40:59,360 --> 00:41:04,320 Apple Watch. Right now because of these and my inability 710 00:41:04,360 --> 00:41:09,239 to see anything, I think it would ignore the hell 711 00:41:09,280 --> 00:41:11,800 out of me having to put on glasses all the time. Yeah, 712 00:41:11,840 --> 00:41:14,000 well yeah, maybe you can see better than I can. 713 00:41:14,440 --> 00:41:16,960 But h but that's another thing. I mean, we have 714 00:41:17,000 --> 00:41:19,000 a lot of things happening. For example, one of the 715 00:41:19,000 --> 00:41:21,920 greatest things that are happening right now. Is the innovation 716 00:41:22,039 --> 00:41:24,360 is happening so fast. The old cataract surgery where you 717 00:41:24,440 --> 00:41:27,159 replace your lenses because if your cataracts is now available 718 00:41:27,159 --> 00:41:29,360 to anybody just to replace your lenses and you get 719 00:41:29,360 --> 00:41:31,679 perfect vision. I have three friends that have done it 720 00:41:31,920 --> 00:41:32,599 perfect vision. 721 00:41:33,039 --> 00:41:37,719 Speaker 3: That's called lens swopping. And yeah, I looked into that, 722 00:41:38,760 --> 00:41:40,960 but I've had some other issues with my eyes. I 723 00:41:41,000 --> 00:41:43,960 don't want to met with it traumatize my eyes. But 724 00:41:44,719 --> 00:41:50,320 basically the rips are extremely low. It's expensive, but you 725 00:41:50,400 --> 00:41:54,320 can see the day when when it's like, well, you 726 00:41:54,400 --> 00:41:56,400 have you have to do it after a certain age 727 00:41:56,679 --> 00:42:01,559 when your eyes stop changing. You can't swap lended for 728 00:42:01,840 --> 00:42:05,480 like a eighteen year old got lapsed for the final 729 00:42:05,639 --> 00:42:09,079 pick my year old. But you can see, you can 730 00:42:09,119 --> 00:42:11,800 see where it's call headingch So how do we, using 731 00:42:11,920 --> 00:42:15,599 your approach as the disciplined investor make money off of 732 00:42:15,719 --> 00:42:18,119 the AI trend? Is there a way to make money? 733 00:42:18,599 --> 00:42:21,199 Is it too uncertain and we just don't know? And 734 00:42:21,679 --> 00:42:23,800 all the all the easy money has been made up 735 00:42:23,840 --> 00:42:25,039 of the video I. 736 00:42:25,039 --> 00:42:26,960 Speaker 1: Mean right now, right right now, the picks and shovels 737 00:42:27,079 --> 00:42:29,079 and videos a m D. By the way, we're short, 738 00:42:29,199 --> 00:42:32,599 just as a full disclosure were long in video short AMD. 739 00:42:34,280 --> 00:42:37,360 There are a lot of long Microsoft. The players go 740 00:42:37,440 --> 00:42:41,199 loong Google. These are the players that have the picks 741 00:42:41,239 --> 00:42:44,760 and shovels right long Amazon. These are the names that 742 00:42:44,840 --> 00:42:47,039 you want to be looking at in the first stage. 743 00:42:47,119 --> 00:42:48,519 We're in the first stage about it, where we're in 744 00:42:48,519 --> 00:42:50,840 the early stage of this how it how it goes 745 00:42:50,880 --> 00:42:53,039 from here. There's a bunch of companies that are saying 746 00:42:53,079 --> 00:42:55,920 that AI like a m D. They're not. That's why 747 00:42:56,360 --> 00:42:58,039 you know, we show them at one fifty eight. They're 748 00:42:58,039 --> 00:43:02,280 in the sub one thirty right now. And you look 749 00:43:02,320 --> 00:43:05,679 at the opportunity from companies that are providing things like 750 00:43:05,760 --> 00:43:11,000 a Dell. Opportunities are enormous for service space, for buildouts, 751 00:43:11,159 --> 00:43:14,440 for what they have to do to generate this. The 752 00:43:14,559 --> 00:43:19,400 utility companies major play. You look at the SMRs, the 753 00:43:19,880 --> 00:43:23,960 small modular reactors for nuclear energy. You look at the 754 00:43:24,400 --> 00:43:29,559 utilities for their ability to basically provide the electrical that 755 00:43:29,760 --> 00:43:35,480 needs to be utilized to run these massive energy sucking 756 00:43:36,800 --> 00:43:42,280 computer systems storage facilities that are being built. That's another 757 00:43:42,360 --> 00:43:45,119 play that why utilities are generally close to but not 758 00:43:45,239 --> 00:43:49,079 at old time highs or fifty two week highs amazing. 759 00:43:49,079 --> 00:43:51,280 Who would have thought that in an interest rate market 760 00:43:51,360 --> 00:43:54,480 that has been pretty much stable, in a market that 761 00:43:54,519 --> 00:43:59,360 people want growth. I mean, we're going after the most conservatives. 762 00:43:59,519 --> 00:44:00,440 I mean utilities. 763 00:44:00,760 --> 00:44:05,360 Speaker 3: I would think, right, your grandfather's utility. 764 00:44:05,079 --> 00:44:07,159 Speaker 1: Widows and orphans, Right. 765 00:44:07,599 --> 00:44:10,679 Speaker 3: Yeah, it's ate off the dividends, big dividend, I mean 766 00:44:11,519 --> 00:44:14,119 one that I like that I actually own and I'm 767 00:44:14,159 --> 00:44:17,679 not telling anyone by it. It's appreciated nicely over the 768 00:44:17,760 --> 00:44:20,920 past six months. Or Dominion, And the reason I picked 769 00:44:20,960 --> 00:44:27,800 them is because they're Northern Virginia, Virginia's electrical utility. And 770 00:44:28,199 --> 00:44:32,079 who's the biggest user of AI or he's got to 771 00:44:32,119 --> 00:44:37,239 be a government and the intelligence Langley Virginia and that 772 00:44:37,360 --> 00:44:43,559 whole AI intelligence infrastructure around them. And I read an 773 00:44:43,639 --> 00:44:45,840 article recently that if you want to build a data 774 00:44:45,920 --> 00:44:51,440 center in Virginia, you have to make a reservation with 775 00:44:52,119 --> 00:44:54,679 Dominion two years with vamps do that. 776 00:44:55,159 --> 00:44:57,360 Speaker 1: Right, And that's why we want to vollnteer. By the way, 777 00:44:57,639 --> 00:45:03,159 who's AI for the government or governments? And that's why 778 00:45:03,199 --> 00:45:06,159 I Pollunteer, which was an underloved name for a long 779 00:45:06,280 --> 00:45:10,159 long time, has really look at that stock has done 780 00:45:10,280 --> 00:45:13,760 incredibly well for us, for our clients. So actually we 781 00:45:13,800 --> 00:45:15,639 trimmed a little bit of that. Yesterday or the day before, 782 00:45:16,280 --> 00:45:17,840 we triamed a little bit of our profits. It's just 783 00:45:17,960 --> 00:45:20,840 with such a magnanimous move that we felt that we 784 00:45:20,880 --> 00:45:22,119 should take a little bit off the table. 785 00:45:22,679 --> 00:45:26,480 Speaker 3: So here's the question for you, Andrew Win, You a 786 00:45:26,599 --> 00:45:29,159 buy and hold die or you when do you sell? 787 00:45:29,960 --> 00:45:33,079 Obviously you're rousing money, you're going to cut your laws, 788 00:45:33,360 --> 00:45:35,559 But when do you sell when the thing is making money? 789 00:45:35,719 --> 00:45:38,679 Like and vidiot, you just set it and forget it. 790 00:45:40,280 --> 00:45:42,400 Speaker 1: So we have rules. We have to have a consistency 791 00:45:42,400 --> 00:45:46,559 of earnings, consistency of growth of revenues. We have to 792 00:45:46,599 --> 00:45:48,800 have high what's called Roe return on equity. We have 793 00:45:48,840 --> 00:45:51,360 to have a certain margin expansion. All these rules go 794 00:45:51,440 --> 00:45:54,840 into play. You don't make any of those. If in 795 00:45:54,920 --> 00:45:57,719 totality is fifteen rules. Any of those that you don't make, 796 00:45:58,559 --> 00:46:01,480 you're out. You have to be the cream of the crop. 797 00:46:02,159 --> 00:46:04,920 With the equities that we own. Within our it's called 798 00:46:04,920 --> 00:46:08,920 the discipline investor manage growth strategy. Inside that strategy, we 799 00:46:09,000 --> 00:46:11,800 could have thirty stocks, we could have sixty socks. And 800 00:46:11,920 --> 00:46:13,760 the more stocks that we have, the more allocation we 801 00:46:13,840 --> 00:46:18,400 have towards equities versus For example, Palanteer is a as 802 00:46:18,440 --> 00:46:21,360 we call it, an alpha position that is something that 803 00:46:21,440 --> 00:46:28,239 we will trade around in Nvidia, Google that I mentioned, 804 00:46:28,280 --> 00:46:31,119 Microsoft that I mentioned are names that are part of 805 00:46:31,320 --> 00:46:37,400 the Strategies core filtering system. So you know, we add things. 806 00:46:37,480 --> 00:46:40,440 We had a couple of interesting adds this quarter. But 807 00:46:40,559 --> 00:46:42,400 if you don't make it, you're out. We've had in 808 00:46:42,519 --> 00:46:44,559 Vidia for a long time. There was a time it 809 00:46:44,639 --> 00:46:46,280 was out, but generally speaking for the last few years, 810 00:46:46,280 --> 00:46:48,360 and Vida has been in our portfolio. We trim it 811 00:46:48,800 --> 00:46:52,199 every quarter. If it grows dramatically, we'll trim a little 812 00:46:52,199 --> 00:46:55,039 bit of off, take the profits and rotate it back 813 00:46:55,079 --> 00:46:57,400 into other things that we're buying. So it all depends 814 00:46:57,440 --> 00:46:59,360 on what particular area we're working. Or we work on 815 00:46:59,400 --> 00:47:02,599 the trading side of our portfolio or for stocks uh 816 00:47:02,719 --> 00:47:04,920 in the manage grows strategy because it's separate than our 817 00:47:05,079 --> 00:47:06,000 global allocations. 818 00:47:06,519 --> 00:47:06,960 Speaker 3: Or are we. 819 00:47:08,599 --> 00:47:10,280 Speaker 1: In the trading side of it. Are we in the 820 00:47:11,920 --> 00:47:14,920 for AMDs trading position for example, or are we in 821 00:47:17,000 --> 00:47:17,800 core positions. 822 00:47:18,599 --> 00:47:21,719 Speaker 3: Do you care about dividends the Do they make any 823 00:47:21,760 --> 00:47:24,239 difference than your Nope, not at. 824 00:47:24,119 --> 00:47:26,880 Speaker 1: All, there is a gross strategy. Dividends are really not 825 00:47:27,079 --> 00:47:28,800 something that we will rely on. It has to be 826 00:47:29,280 --> 00:47:32,360 the basic tenets of certain levels of growth on a year, 827 00:47:32,400 --> 00:47:35,840 of a year, quarter over quarters, a time periods, of earnings, 828 00:47:35,920 --> 00:47:39,519 of revenues, of consistency of margin expansions. All this is 829 00:47:39,559 --> 00:47:42,800 all these consistency points we have to have to show 830 00:47:42,880 --> 00:47:46,440 us the management can not only say something but deliver 831 00:47:46,920 --> 00:47:48,000 and that they're actually doing. 832 00:47:47,880 --> 00:47:51,880 Speaker 3: It consistently over time. Yep. You know, one one thing 833 00:47:51,960 --> 00:47:54,360 we never even really talked about with the AI and 834 00:47:55,000 --> 00:47:58,840 all the technology, it's howthing, you know, how thing The 835 00:47:58,920 --> 00:48:05,119 way we build up now has definitely been impacted by technology. Look, 836 00:48:05,679 --> 00:48:08,320 but I still take a year to build a big 837 00:48:08,480 --> 00:48:13,440 half six eight months. And you know, I think that 838 00:48:13,679 --> 00:48:18,800 new material that AI will create and new methods, and 839 00:48:19,800 --> 00:48:22,360 you know, we've had stuff where you like cats and 840 00:48:22,519 --> 00:48:26,000 plate and then you know, precast concrete panels and all 841 00:48:26,039 --> 00:48:30,039 that stuff. But I think we're gonna we're gonna see 842 00:48:30,079 --> 00:48:34,639 a huge boon there as well, and robotics and all 843 00:48:34,679 --> 00:48:37,039 that might very well bring down the cop All right, 844 00:48:37,360 --> 00:48:40,239 So Andrew, tell us where we find you, how we 845 00:48:40,280 --> 00:48:41,440 connect with you on the web. 846 00:48:42,119 --> 00:48:45,159 Speaker 1: Yep, just go over to The Disciplined Investor dot com. 847 00:48:45,239 --> 00:48:47,320 Look me up Andrew Horowitz Investor or something like that. 848 00:48:47,440 --> 00:48:49,519 You know, you can find me on the site. There 849 00:48:49,639 --> 00:48:52,519 is all the information about our various strategies. That two 850 00:48:52,599 --> 00:48:55,679 podcasts that we do per week, The Discipline Investor DH 851 00:48:55,800 --> 00:48:58,239 Unplugged as well, which is pretty fun. 852 00:48:58,800 --> 00:48:58,960 Speaker 3: Uh. 853 00:48:59,360 --> 00:49:01,760 Speaker 1: We have a lot of guests on We've been doing 854 00:49:01,800 --> 00:49:04,239 this since two thousand and seven. The podcast one of 855 00:49:04,239 --> 00:49:07,239 the original podcasters out there in the area finance. 856 00:49:07,480 --> 00:49:10,400 Speaker 3: You got maybe I started in twenty ten and I 857 00:49:10,480 --> 00:49:14,039 thought I was ahead of the waves. Hey, well, anyway, 858 00:49:14,199 --> 00:49:16,199 we'll have a link in the show that's this interview 859 00:49:16,360 --> 00:49:20,719 on Financial Survival Network dot com. And we just asked 860 00:49:20,800 --> 00:49:23,760 that you sign up for free newsletter like over sixty 861 00:49:23,880 --> 00:49:27,880 thousand other f f END community members. And if you've 862 00:49:27,880 --> 00:49:30,519 got a question for Andrew myself, shoot me an email 863 00:49:30,719 --> 00:49:34,400 kl Kerry Lets dot com. Andrew always a pleasure. We'll 864 00:49:34,440 --> 00:49:35,400 talk to you again real soon. 865 00:49:35,440 --> 00:49:37,199 Speaker 2: All right, have a great holiday, Thanks so much, Kerry, 866 00:49:37,400 --> 00:49:41,519 Thanks for listening to Carrie Let's's Financial Survival Network your 867 00:49:41,639 --> 00:49:45,400 solution to today's trying times. For the latest, go to 868 00:49:45,599 --> 00:49:51,480 Financial Survivalnetwork dot com. Financial survival network now more than 869 00:49:51,599 --> 00:49:51,800 ever 870 00:50:00,079 --> 00:50:00,119 Speaker 3: M