Speaker 1: Hey, I'm sorry, Trump fans, I am, I'm really sorry.
I'm just going to tell you that this is a
very bad financial policy. In this EO, we'll talk about
this with the help of Boer Capital Managements, and in
fact the chief investment officer thereof Zach Abraham, and with
God Almighty.
Speaker 2: But Todd Herman show is one disapproved by big pharma
technocrats in Tyrone sabran where from the high mountains of
Free America, here's the Emerald City, exime.
Speaker 3: Todd Herman.
Speaker 4: Today is the day the Lord has made, and these
are the times through which God has decided we should
live its wise council day with Zach Abraham joining us
from a palatial mansion far atop the planet Neptune.
Speaker 3: Zach, welcome, man, It's good to have you.
Speaker 5: Yeah, I tell you what. That's a heck of a communito. Man,
this delon. I was with Dlon last night and it
took quite a while to get into that tune. Man,
it's a bit of a trip.
Speaker 3: Yeah, I get it. It is.
Speaker 1: You sent me a text. You don't often do this,
but you seized the content of today. And then I
went and looked at this. All I saw is to headline,
Zach and people need to understand this. So here's the headline.
The exclusive came from the Wallstreet Journal. Trump executive order
to help open up four one CA's to private markets.
US defined contribution plans held twelve point four trillion in
assets at the end of twenty twenty four, so private
equity into four one case. And you wrote me and
said that this is just a terrible ideas.
Speaker 5: It's worse than a terrible idea. It's out and right.
It's out and out grift, okay, and it is grift
of the worst kind because it is bailing out billionaires
off the backs of working people. And this is complicated
and tood, you know where I'm at. But I before
I get started here, I hope hopefully the listeners know this.
When I saw this, I was angered and deeply disappointed.
This isn't me taking shots at Trump. This is me
being really really bummed out and really disappointed in what
I thought we were getting versus what I'm seeing in
the passing of this bill. So excuse me. This executive order, right,
it's an executive order, which to me is even even worse.
And the reason it's worse is because this is going
to be a disaster, and it's and and and as
the people that support a politician, right, we're the ones
that are gonna have to answer to it. The folks
are going to be the ones that have to pay
for it. But let me let me just set this
SCE in a little bit. So first of all, pride equity,
when we hear that term, all it means is you're
invested in companies that are not publicly traded, so you
don't own stock, you're actually owned well stock. Owning stock
is owning a piece of a company, but owning a
private owning private equity. Let's say you got a buddy
that's got a successful coming business and he needs some
cash to expand you go give him, you know, two
hundred and fifty grand for ten percent of this company.
You own private equity. Okay, So private equity has always
fallen under the accredited investor umbrella, which means you had
to have a million dollar net worth or more to
invest in it. The reason why that exists, I am
convinced to this day that it is simply a gate
to give the wealthy people a shot at things and
the not and regular folks not. Okay, so that and
that run has been along around a long time. That
is on anybody else's should guts, not a prop fault
or anything like that. Okay, So here's where it gets
really nasty private equity because it isn't stock. It isn't
valued the same way. See, if we want to look
at what a stock is worth, we just look at
the stock quote that day, right, you stop on the
internet stock quote b neriness. Well, private equity doesn't work
that way. It's not selling, buying, being buying and bought
and sold on an exchange. So how do you value it? Right? Well,
the way that you value it, and the really only
way you can value it is you either value it
based on a sale price, right, meaning you sold it
for X amount of money that's what it's worth, or
you value it based on what you paid for it with,
you know, and if you like, let's say you've got
a company that you bought for X and the revenue
of that company had grown by an average of fifteen percent,
and you thought that justified you pushing the price of
the company up ten percent for each year that you
know the revenue increased by fifteen percent. And there's your
formula and that's that's how you define it. Right. Well,
for a lot of these new companies, they are not frosting, right,
They're spending so much so you can't really value them
on a financial basis. So the way they value them,
which makes sense, you value them on the fundraising amount.
And I know you know this, Todd, You've been through
the process. But just to explain it to listeners, So
like when Facebook was a billion dollars, was worth a
billion dollars and they needed money to expand they did
it via private equity or adventure capital, and they went
and rounded up let's say, fifty million dollars based on
a one billion dollar valuation. Okay, Well, the minute they
do that, the guy that already owns a chunk of
Facebook and he bought it a five hundred million dollar valuation,
he goes back to his book and goes, oh, okay,
well now it's worth a billion dollars, right, because we
just raised money at a billion. Yeah, and that's fair. Okay,
here's the issue. First of all, there was a run
into private equity like anything we have seen ever in history.
Over the last twelve years. You just have massive amounts
of money for all kinds of reasons, a lot of
them stupid. It was the place to be right. Well,
here's the thing. There aren't as many publicly traded companies.
There aren't as many privately held companies out there that
are looking for It's tougher to find private equity type
situations than it is public equity. There's just more public
equity company easier to invest in. So when all this
money starts pouring into private equity, remember these fund managers
have to put that money somewhere. They can't charge your fee. Right,
So what happened? You kept you kept going down the
quality chart, right, You kept financing shadier and shadier companies,
and all you had to do to show that they
were going up in value was to raise some more
money at a higher price, which was easy to do
because money kept pouring into the space and these fund
managers had nowhere to put it, so they had to
pay higher prices. Well, all of a sudden, when interest
rates go up in twenty twenty two and a lot
of these companies are reliant on debt financing or increase
money flowing into private equity, all of a sudden, there
aren't a lot of fundraises going on. Right, there weren't
a lot of new raises going on. And one of
the reasons there weren't new raises going on is because
a lot of these private equity companies weren't increasing their revenue.
They were going backwards, and they don't want to do
a raise at a lower price. We call that a
down round, yep right, nobody wants to do that. So
what did they start doing. They started going, Hey, they
went back to their investors and they go, hey, we're
going to have to do a down round. Don't do it.
Deb no, man, don't do that. Don't do that. Oh yeah,
and we've fallen way off. The backdrop has changed, so
this down round is going to have to be done
at fifty percent less. And the investors are going, no, no, no,
we don't want you to do that. How about we
loan you money because if I loan if I loan
you money, I don't have to I don't have to
change my mark on the value of the company.
Speaker 1: Okay, So let's let's pause there, because this is about
to take a turn that is likely with this EO
to affect a bunch of people in this country, and
they don't even know the train that's coming down the tunnel.
Speaker 3: Let them.
Speaker 1: So, uh, let's let's pause in that for a second.
And here's Zach talking about debts and banking, et cetera.
If you're a smaller, medium sized business owner, I guarantee
you've got a bank, right, well, unless you're dealing the drugs.
In that case, maybe you don't get a bank, like
I don't know you on your fentanyl business. You guys
bank and yet or don't answer that. No securities exchange commussion.
Speaker 5: No, No, they're they're all they're all fine with that
type of business. Okay, illegal, it's illegal enough.
Speaker 1: Okay, right, yeah, so you know we launder our stuff
in a way, but no I don't.
Speaker 3: That's not real.
Speaker 1: But your bank probably didn't tell you, and and god
bless your accountant and your business lawyer, they probably didn't
tell you. You know, that corporation we set up for you,
that's not real. Yeah, it's it's it's registered, it says corp.
But it's based upon your personal assets and your personal credit.
That's not how the big boys play. So if you
have something, say a landscaping business, and let's say a
piece of equipment starts on fire and it burns someone's yard,
they sue you. They don't have to sue your business.
In fact, if you're not with corporate credit, they end
up suing you because you have the assets. The business
is not because you and the business are one visible.
Will fix this and seven easy steps. They'll build that firewall.
That's the that's protecting your home, your fur, one K,
your retirement account.
Speaker 3: But then something else. Now your business could be fundable.
Speaker 1: So if you want to get in on the swindle
of private equity and having people buy in your note,
your property's probably very very honest. It's fundable, and it
grows more quickly, it's more useful. Well, they'll take care
of it all super easy. Website go bisible with a
z go bisible dot com. They'll give you a free
NAW obligation consultation. When this all makes sense to you,
and I promise it will commits to the program and
get protected gobisible dot com.
Speaker 5: All right.
Speaker 1: So when we left Zach Abraham last he and the
girls from Three's company.
Speaker 2: Right.
Speaker 3: So this train that's coming down in.
Speaker 1: People's faces is private equity has arrived at this point
where there are these down rounds, meaning that the company
has reduced in revenue performance. But the current investors they
don't want to downround because that dilutes their ownership. So
now that's messing with their paper profits. They don't want
to go back to their partners and say down round.
So Harris, what we'll do. We'll do a shell game.
We'll loan you the money and I'm guessing probably in
convertible notes that they don't have to convert. We could
just keep it alone. Therefore it's just alone. There's no
down rounds. So now we've gotten down this decreasing quality
cycle and putting money into more and more shady companies,
less and less honest companies, and all of a sudden,
private equity is going to be in for one case
and it's going to get jacked and pumped and Blackrock
and everyone else as Vanguard, they're going to push this
so hard. Finally you can play the game like the
big boys.
Speaker 5: Right, we're democratizing us. Got it?
Speaker 3: Got it?
Speaker 5: So if we look around, so this industry has blown up,
like I said, over the last twelve fifteen years, private
equity has just exploded. Okay, So what you've gotten now
is you've got a bunch of these multi billionaires and
the multi billion dollar To give you an idea, Harvard
is fifty percent of their endowment is in this crap, okay,
and they're drowning in it, and they can't get out
of it because none of these pe firms will take right.
They won't sell it to each other, right because if
they do that, to start the dominoes selling. And remember
so on average, and these are some very good estimates.
I know people that run private equity funds. This is
not me shooting from the other. I'd say, on average,
the average private equity fund is down forty to sixty
from where it was four years ago, okay, And that's
on average. There's some doing worse, okay, But you're not
seeing any of those write downs hit their books. Why
because they don't need to because they're not transacting. The
problem is you can only do that for so long.
So now you've got this issue where you've got all
these billionaires. And keep in mind, Trump's son in law
runs a private equity fund with a couple of billion
dollars in it, yep, so and private equity that's that's
his deal. So they don't want to take it right down.
What they've got to figure out a way to get
these things off their books without taking a hit. Well,
what's the only way to do that. The only way
to do that is to bundle it into a fund
and sell it to a bunch of unsuspecting people out
there in the public that don't realize these things aren't
mark correctly, and they have through this executive action or
executive order. It literally makes four oh one k plans
the exit liquidity for all of these private equity billionaires.
And it is a crime. And this is something that
we were warning about when Blackrock is Trump is going
along with Blackrock here. Larry think has been pushing this
harder than anybody for the last year and a half
because BlackRock's in the same situation. They own a bunch
of this toxic garbage and they can't sell it to anybody.
So who are you going to sell it to? John
Q Public Baby, the folks are going to take a
bath again. And there's no way he does not understand
this dynamic. Like I said, his son runs, his son
in law runs a multi billion dollar private equity fund.
He's plugged into these guys. Jd Vance worked for a
private equity fund. It's just I'm so disappointed. I am
so horrified and ticked off. Man, it's just a disgrace.
Speaker 1: I'm trying to find the sunshine in this so I
can come back and say, yeah, but trust the plan
is well. I even had great news to talk about
financially today. This is a gut punch man, because is
talking a second about what can happen here. But let
me also mention this that Zach is putting on a
free live webinar and it's coming up the twenty fourth
of this month, and it is about the state of
our nation's economy, and it is about risk management. It
is about well things like this. I mean, I gotta
believe this is going to be part of your halftime webinar.
Speaker 3: I was looking at our country like a sports season.
Are we doing? I gotta believe this is going to
play a big role in that. This is free.
Speaker 1: You have to register to attend. Go to Know Your
Risk Podcast dot Com that's k and OW Know Your
Risk Podcast dot Com.
Speaker 3: And when you do that, you'll be go and.
Speaker 1: See Zach talk about this and then ask her questions
and how they do this all Know Your Riskpodcast dot com.
Investment visors surface off their Truck Financial llcn SEC Rich
Investment Advisor. Investments involve risk, are not guaranteed past performances,
and guarantee future results. Truck twenty five's two five two. Okay,
let me see if I understand this. So they're they're
taking their pig, they're slapping lipstick on it, and they're
saying it's a beautiful, beautiful, beautiful lady and or a
you know, great looking gentlemen. They're going to pitch this
to the public as democratizing. Finally you can have the
same wealth, the same access to wealth that the Hollywood
stars have, and and Nancy Policy stockpicker, et cetera.
Speaker 3: And in reality, these things are loaded.
Speaker 1: Up with false values, propped up by debt to make
sure that these billionaires don't have to write down the
value of their investments, so on paper they never lose money.
When these start getting loaded up into four one ks,
suddenly there's action. People are buying these things. Therefore they
can justify increases, even increases in value. Those investors are
going to step in and say, pay us back our
debt right now at a multiple, get us out of
the debt, and then they start unloading their shares as
fast as possible, starting with the big stinkers.
Speaker 5: Yeah. Well, and first of all, they're going to sell
a lot. So the way it's going to mechanically work
is they're going to sell the private business into the
ETF or into the fund. And the price they're going
to sell it at is most likely what the price
they last raised money at, right, because that's the price,
that's the price. Well, you guys haven't raised any money
in the last three years. Well, it's because we haven't
needed it. Well, if you haven't needed it, why have
you taken out seven hundred fifty million in debt? Right,
So they're going to sell it, effectively at a fraudulent
price right into the fund. So at that moment they
go like this, here's how you know the fix is in,
and this is how you should know that I that
you can trust what I'm saying and it's gospel. Do
you think it's odd the timing regarding allowing non accredited
investors to invest in private equity comes at the time
where the entire private equity industry is more underwater than
it's ever been. Do you think that's a coincidence?
Speaker 3: Yeah?
Speaker 5: Right, all of a sudden, you're going to let the
small guy in. Why is that? It's because you're looking
for exit liquidity, you're looking for bag holders. You got
to dump your junk on somebody else because being worth
multi billions isn't enough for you. You want more and
it never stops, and you can't take a loss, and
it's so much, so you're going to break a guy
trying to raise his family on ninety grand a year
and faithfully investing in his four oh one k because
you don't want to take a write down.
Speaker 1: Okay, So let's now talk about the fund managers like
and I'm not trying to trash a specific company, but
let's take a Fidelity for instance. Okay, or let's take
a I don't know what's another fund manager like that.
Speaker 5: I mean, you can talk old Men black Rock, yeah,
all the big guys.
Speaker 3: Well, but I'm thinking Goldman, black Rock.
Speaker 1: Most of like people who watch or listen to the show,
they're not probably with those guys.
Speaker 5: But oh yeah, Fidelity, yeah, amor Prize.
Speaker 1: All right, So they're not going to go and present
individual companies. I mean, Larry thinksn't gonna be going. Okay, hey, listen,
I want to tell you about a chain of Oh,
I don't know housebuilders we own and this is this
is a big house building company in the Midwest, and
here's their books, and let's examine this. And this is
the debt to income ratio. And they're not going to
do that. They're going to bundle this stuff all up, right.
Speaker 5: So yeah, it's a different version of what they did
in eight oh nine with plateralized debt obligations.
Speaker 1: Okay, so they took the housing stock, they took the
junk loans, they took all that stuff, the junk. No
one can pay this back. These people are ten times underwater.
They package this up and repackage and de derivatives of derivatives.
Then they come and say, we're giving you the package
of all package. So now this comes in the Blackrock
Private Equity fund, the biggest, most successful investment company in
the history of the world.
Speaker 3: We're bringing you the Blackrock funds.
Speaker 1: And so they go out to the fund managers, Zach,
the people who run Fidelity know this. So what do
they get out of the deal when they start pimping
this stuff into people's four one case.
Speaker 5: You know what, I'd have to look at that. I mean,
I'm sure there's some distribution agreements, you know, fees. But
I so it's kind of weird though, because when you
get into the fidelity and the retail side of it,
a lot of the people that work clear and and
I know a lot of these folks and this isn't
they just have a different view of these things. And unfortunately,
I think a lot of the people out of place
like Fidelity are not aware of this problem. Okay, this
is kind of a this is kind of a wonkish problem. Like,
for instance, I would be surprised, you know, you turn
on Fox News and they're probably going to position this
is Oh, it's a win for democracy. Trump's given him,
you know, the small guy, the access to the same
game the big guy plays, and you're like, no, no,
that's not what's going on here, right, I mean he is,
but not for those reasons. So I you know, and
a lot of these people just don't get it. This
is pretty wonkish, and I've kind of given kind of
dove down the rabbit hole a little bit on this,
but I really wanted people to understand this isn't my opinion,
This isn't a hot take, this isn't a shot at Trump.
This is me lamenting what's really going on here, and
knowing personally the scramble for liquidity that's happening behind the
scenes with these private acuity companies and watching this happen,
and it's just like you're like, this is so, this
is so disgusting. This is so disgusting. And there was
talk about Biden doing it to his administration's kind of
the even backed away from this.
Speaker 3: Yeah, but then again they forgot they were running a country.
Speaker 5: Well yeah, yeah, yeah, yeah, there is that. I thought
it was a dairy queen.
Speaker 1: So I want to present a scenario maybe under which
this would have been okay in a second. So I'm
going to do this in a movie form in a second.
Speaker 3: Here's act.
Speaker 1: Let me let me do this in just a second.
Speaking of movies. In fact, you dig this there is
from Angel Studios. They're put they put out a new series.
It's called Testament. Uh so they've taken the Book of
Acts and they've moved it into the modern era. So
you have Paul and James and Philip and Steven and
I mean there's all the Acts is all about what
they did they bring it to this Mary because I
mean they get to have dramatical license here. I don't
think Mary just went away, or maybe the Mary's and
they're in the modern world sharing the gospel after the
Lord Jesus ascended to heaven and came back and ascended
to heaven, after he was resurrected and spoke and met
everybody and ascended to heaven. So it's in a surveillance state,
it's in a censorship state. It's in a state with
hostility truth. In other words, does that sound familiar? So
Angel didn't come along and make a fun feel good
The Christian girl gets the beautiful outcome she needs because
she's sang the right gospel song and that old krusty preacher, gosh,
she knew what he was talking about. And the parents
got reunited after they saw her little girl. This is
a real questioning faith, questioning could you do this for Jesus?
Speaker 5: Movie?
Speaker 3: Would you be willing to pay the cost?
Speaker 1: And it is not soft soap, So join in on
the Angel Guild help us fund movies like this. Here's
what you do. Join the injurl Guild at angel dot com.
Slash Todd Premium members receive two free tickets to every
theatrical release we voked on the movies they release, we
get to fund things like this. That's angel dot com
slash Todd to stream Testament right now and support bold
faith driven content at angel dot com. Slash Todd and
zach I said, I would do this movie for him
if there had been this massive, massive, come to Jesus
moment in private equity where these guys were forced to
reflect these losses on their books. They were forced to
recognize that these companies had these bad revenue performances. You
have to write down and you have to adjust your
debts and all that. So the books were rationalized. So
these things are at a low and these guys are going,
what are we gonna do?
Speaker 3: Now? Would that make you happier if.
Speaker 1: Trump would come back with an EO allowing people to
buy this when the stocks were or the company prices
were rational or even low, or would you still okay?
So then you'd be saying this is a good idea.
Speaker 5: Yes, yes, because yeah, because I think people I think
the vast majority of the credited investor rules are ridiculous.
It's a concret club rule, okay, and it's and it's
it's garbage. So I think people should have access to this.
I think it's criminal that when you give them access
to it. And here's here's the other part about it.
Because it's private equity by definition, it's more opaque, less
people understand it, less people get it. Right, most most people,
most you know, even our investors, it will work, our clients.
Most most people, despite what they'll tell you, don't really
even understand how public equities are valued, let alone private ones. Right.
So it's like you said, the timing of it is despicable,
but especially interceptional pink market, because what are the chances
that the average guy, you know, he doesn't even have
the ability to do that, right, These are privately held
companies that haven't been followed publicly, and so he wants
to go dig through the fund and do research on
the companies. It's really hard to do. Yeah, you don't
have publicly filed documents. So it's I think that's the
best way to say it, Todd, and I hadn't thought
about it at least in that way. The timing of
it is the sin.
Speaker 1: Okay, I was trying to get at because that also
though proves I think your point. The timing of it's
the sin. But these guys wouldn't be doing that. If
they had been forced to write down, if they'd been
forced to reflect the real prices of these companies, they
would have eaten the bullets, you know, taking the bullets.
They would have done that and gone back and take
the lumps from their LPs, their limited partners gotten the
brow beatings. You guys are gonna make this up to us,
we don't lose money, and tell me if I'm wrong.
Speaker 3: But that's sort of the address to these LPs. We
don't lose money.
Speaker 1: You are gonna give us a make good, and that
make good it's going to be something. And well then
then they wouldn't be then they wouldn't be wanting us
to buy this.
Speaker 5: No, And the reason, like I said, Harvard's and endowment
is fifty percent into this, right. And the other sin
here is we're not gonna let the fact that fifty
percent of any serious portfolio is in private equity is
a is a joke. It is a complete failure of
risk management. But it was purely greed that drove them
into that position. And that's the other part that ticks
me off. Wait a second, you're not only are we
going to bail these guys out with public funds, but
you're gonna do it at the moment, they were about
to burn, and they were about to burn because of
their own pride and their own greed and their own hubris.
Why are we doing this? And they were about to burn,
And here's the reason they were all over levered in it.
There was this narrative that went around and we've talked
about this a lot on our show, and we said
that you know this was going to happen because this
is a joke. The way they were all pushing private equity,
and the reason they all got so levered up into
private equity was the mantra was stock market returns with
bond volatility. Okay, that's insanity. You know what that is.
Speaker 1: That's that's that's huge squat power without leg day.
Speaker 5: That's one hundred correct. And the reason that's so funny
for people to over there go, what do you mean,
the guys, The reason you get a higher return from
the stock market is the volatility. Okay, that's the way
it works. That's insanity. And if you don't have that volatility,
which means things going up and down, what that tells
you is none of these companies revenue streams are moving
up and down fast enough. Well, if none of their
revenue streams are going up and down fast enough, how
are they providing stock market like returns? It's nuts? Right,
But these people, and I'll just tell you on paper,
they look super educated. But anybody that loads up an
endowment fifty percent in ill liquid stuff that's improperly marked.
We're not talking about Warren Buffetts here right now. Right,
So these greedy, proud, arrogant people load up on all
of this garbage that is illiquid that they can't unload on.
And when they get pinched, all the billionaires circle together,
and they're usually pretty good at that, right, all circle
in the wagons. How do we get out of this mess?
Let's unload it onto the public. And Harvard's going to
do it. All the endowments are going to do it.
It's billionaires exiting out of ill liquid positions on the
backs of the public. And it's freaking disgusting.
Speaker 3: Yeah, and they know what they're doing.
Speaker 1: And I want to ask a question, is a second, Zach,
how people protect themselves from this? Let me share this
with you real quick, because we're talking about private.
Speaker 3: Companies that do bad things. My friends that renew healthcare.
Zach and I. Zach went to Mexico with me. There
a port of our Arta. Remember Mike we met. He
was a marine for twenty two years.
Speaker 5: Yeah, do this right?
Speaker 1: Oh yes, right, yes, it's clinidibre. And if there's someone
who looks more like a marine, I don't. I don't
like remember what he wore his semper fied hat were like,
you don't everybody knows.
Speaker 5: I mean he's like, oh yeah, he's like a walking recruiting.
Speaker 3: Poster right right, and he's a great, great guy.
Speaker 1: So he sent me this updates he said, Hey, Todda
sent this to Kathleen Renew. She's asking about my percentage
and pain reduction. Feel free to shore if.
Speaker 3: You'd like to.
Speaker 1: They follow up with patients and you've probably got these emails. Zach,
I know I get these, uh, he wrote back Kathleen. Overall,
it feel fantastic for my knees. It depends on what
I'm doing going up and downstairs. I would say one
hundred percent reduction in pain. This is what two months ago.
If that if I run, I still feel some discomfort
in both during the start of the run, about the
tenth of first tenth of a mile for the left knee.
I'd say I'm ninety percent reduction in pain for the
right kneed, the one with the most damaged, seventy five
to eighty percent reduction in pain already. I've not attempted
running over three miles yet, I'm keeping it between two
point twenty five and two point five. I was shocked
to find out that I've taken a full minute off
my per mile during my run. I'm also happy to
say I do not spend the rest of my life
in limping like I used to after I'd run. I
don't even notice my knees anymore after the run is done.
My shoulder's taking a bit longer, not a surprise. With
two terrors to heal, I'm still taking it easy when
doing up her body workouts for my shoulder, I would
say I'm a run seventy five percent pain reduction. Just
so you know, he hasn't even gotten into the tissue
building stage yet, right still in the inflammation reduction stage.
This guys don't listen to American medicine. These stem cells
from umbilical cords, taken all of a five minute walk
from an elite hospital, put into a lab that is
one step below a bio containment lab and then their
culture from there.
Speaker 3: This is where to go.
Speaker 1: It's renew r E n U E dot healthcare. Get
out of pain. This stuff is not done up here.
It's not even close. They're called autographs, and I'll talk
all day long about the difference. It's renew R E
NU E dot healthcare. Protect yourself from American medical system.
So Zach, how do people protect themselves? I mean, hair,
I got a crazy idea, Know Your Risk podcast dot com.
Speaker 3: Right, That's that's that's one crazy idea.
Speaker 1: I know this cat named Abraham who is speaking out
about this, but I don't want to have to do
this disclaimer.
Speaker 3: Again, that's just a crazy idea.
Speaker 1: But if people insanely choose not to do that, and
number one, they're communists, we could admit that. But number two,
if they don't want to admit that, how could an
individual investor even protect themselves from them If they're in
a four H three B four one K.
Speaker 3: How can they protect.
Speaker 1: Themselves from fidelity poisoning their retirement with this stuff?
Speaker 5: Well, it's still a couple of things. And again I
feel really strongly about this, So it's not meant as
a plug, but just it is what it is. If
if you're over the age of fifty nine and a half,
even if you're still working contributing to a four oh
one K, you can move the money in your four
o one K. Okay, you can move it to an
outside place if you want to do that or you
want help with that. We do it all the time
and you don't. It doesn't mean you have to quit
contributing to your four oh one K. You keep contributing
like you used to. But at fifty nine and a half,
you're able to do a balance chansfer. It's non taxable,
cost you nothing. We do it all the time. Okay,
that's and we're not the only people that can do
it in any firm can obviously I think that you know,
you'd be better offcoming to us. But that's one way
if you are stuck inside the fund and you don't
have any way. You know, if you're under the age
of fifty nine and a half, you need to have
a four oh one K consultation with somebody, which we
do with all of our clients, and they're always surprised
that we do that and go, well, guys, if I'm
managing two hundred and fifty thousand dollars of your money,
and you've got one million in your four oh one K,
and we don't take care of your four oh one K.
I could hit it out of the park with your
two hundred and fifty thousand dollars and it's not really
going to matter, right, So we do what we call
three four oh one K counseling. You can do that.
The other thing you can do is if if that's
not an option or whatever, you go through your fund
and make absolutely sure that you're not invested in any
of this. But the problem with this is that I
think that this is going to have bigger implications. I
think it's going to affect the overall economy. I think
it's going to affect the overall stock market. So one
of the issues you've got, Remember how you know we're
having a really good unit, right, We're our main fund
that I run, our value fund. I believe we're up
nineteen percent on the ear stock markets, up five or
six something like that. One of the and this is
another problem with the four oh one K funds. One
of the biggest drivers of that has been precious metals
for US international stocks once again a stuff that you
can't get inside of a four o one k, right,
And so I think that four to one k's particularly
are going to be in trouble because the only thing
they really have access to are US assets, which which
are the most overpriced assets in the world, and this
private equity thing coming down the pipe. People need a
broader level of diversification. People need access in their retirement
accounts to gold, people need access to the retirement accounts
to international stocks, people need access to some bitcoin. Right.
None of this stuff you can get inside of a
four oh one k. So you know, the thing I
tell people is, look, like I said, I don't think
everybody in the world's going to call us, and I
don't think we're the only people in the world that
can do what we can do. But these are the
moments that we've really modeled our firm after. You know,
our whole idea is that we wanted to be the
hedge fund for the working guy. Right where we're looking
or not just trying to get market returns. We're trying
to avoid market capacities. We're trying to give our clients
access to things like gold when it's a good idea
gold mining companies and international stocks, and I just you know,
at the end of the day, I want to grow
my business. But you know this about me, and I
know you're much the same way. I think one of
the reasons that we've been successful as a business outside
of God's grace is there's an honest, dogged determination that
we have to try to protect people from this kind
of garbage, and it's why we give out information the
way we do. I've got somebody asking, why are you
telling people how to do this on your own? Don't
want them to call you? And I'm like, no, we
want to have the biggest positive impact that we can.
Because if you're doing that, the business takes care of itself,
and it does it every time super well.
Speaker 1: And to who much is given, much is expected. And
the Lord blessed you and your wife, and I pray
you continues to do that. Zach, thanks for warning people
about this and thank you for speaking the truth. And
I know that people who support President Trump can be very,
very defensive of them. Guys, this is a bad idea,
and it's difficult to see there's anything other, sorry than
self serving. And hey, you know what, I noticed something
President Trump's human and humans have sin problem, and that's
not going to change until the New Having and the
new Earth.
Speaker 3: This is the todd Ermanshell.
Speaker 1: Please go, be well, be strong, be kind, Please make
every effort to walk in the light of Christ, and
please forgive me as I go home now to my
beloved wife,