WEBVTT 1 00:00:00.520 --> 00:00:03.399 Jim Kramer has advice, so get ready to do the 2 00:00:03.439 --> 00:00:07.240 opposite of that to Wi Wasserman. Schultz apparently caught in 3 00:00:07.320 --> 00:00:10.759 a violation of the Stock Act violation. We'll tell you 4 00:00:10.839 --> 00:00:17.079 about her three hundred and thirteen percent bump since her trade, 5 00:00:17.440 --> 00:00:19.600 and we'll talk about this with Zach Abram. Also might 6 00:00:19.640 --> 00:00:21.480 touch on the mayor of New York or the likely 7 00:00:21.519 --> 00:00:23.399 new mayor of New York. He's got himself a plan, 8 00:00:23.719 --> 00:00:26.839 a bold one. Zach Abraham joins U, Chief Investment Officer, 9 00:00:26.879 --> 00:00:28.359 Bulwark Capital Management. 10 00:00:30.640 --> 00:00:34.159 The Todd Herman Show is one hundred percent disapproved by 11 00:00:34.240 --> 00:00:42.240 big pharma technocrats and tyrns everywhere from the hind mountains 12 00:00:42.320 --> 00:00:47.200 of Free America. Here's the Emerald City EXI. 13 00:00:49.200 --> 00:00:55.119 Todd Herman. Today is the day the Lord has made, 14 00:00:55.159 --> 00:00:57.479 and these are the times through which God has decided 15 00:00:57.479 --> 00:01:01.200 we shall live. It is wise count today. Zach Abraham 16 00:01:01.320 --> 00:01:04.719 joins us. Zach, Welcome back to the Todd Herman Show, 17 00:01:04.840 --> 00:01:07.120 starring No Let's say it this way. Welcome back to 18 00:01:07.239 --> 00:01:09.280 Zach Abraham with Todd Herman. 19 00:01:10.879 --> 00:01:12.719 I didn't think it's I think it's the other way around. 20 00:01:13.439 --> 00:01:17.480 But I'm the side this year. But no, good, good, 21 00:01:17.480 --> 00:01:20.359 to be back man plenty to talk about obviously, So. 22 00:01:20.719 --> 00:01:24.680 Jimmy Kramer and I don't even get this. I'm normally 23 00:01:24.760 --> 00:01:27.959 I can kind of sus things out by anything. 24 00:01:28.120 --> 00:01:28.480 Uranium. 25 00:01:28.599 --> 00:01:33.400 Is this because Iran? Is this just because Jim Kramer. 26 00:01:34.640 --> 00:01:42.200 It's because the chart broke out? Okay, Now, to be fair, 27 00:01:42.400 --> 00:01:45.519 that's it to be. To be fair, we have had 28 00:01:45.760 --> 00:01:49.920 uranium as a staple in our portfolio for probably the 29 00:01:50.040 --> 00:01:50.879 last five years. 30 00:01:52.120 --> 00:01:53.599 You don't say precious metal. 31 00:01:54.439 --> 00:01:58.000 Yeah, this is so let me give you. This is 32 00:01:58.120 --> 00:02:00.879 why if you want to listen to your Kramer at home, 33 00:02:00.920 --> 00:02:03.519 I would urge you not to. Okay, all right, So 34 00:02:03.680 --> 00:02:07.400 perfect example. So Camico for those for those at home, 35 00:02:08.000 --> 00:02:13.520 picker symbols CCJ, they are by far the biggest supplier 36 00:02:13.719 --> 00:02:19.960 and contractor of uranium outside of Kazakhstan. Okay, so they're 37 00:02:20.120 --> 00:02:22.599 they're the biggest company. They're kind of the bell Weather 38 00:02:22.759 --> 00:02:28.240 right yep. Jim Kramer is talking about everybody go buy uranium. 39 00:02:28.439 --> 00:02:31.800 When we got into Camico, we got into it about 40 00:02:31.879 --> 00:02:33.960 five or six years ago at about eight dollars and 41 00:02:34.039 --> 00:02:38.120 fifty cents a share. Today it hits seventy one eighty seven. 42 00:02:38.960 --> 00:02:41.319 And now Jim Kramer is telling you to go out there. 43 00:02:41.599 --> 00:02:45.479 So it's only nine xt since we bought it, but 44 00:02:45.680 --> 00:02:49.520 now it's a buye if you want to know Jim 45 00:02:49.599 --> 00:02:52.439 kra like, there's Jim Kramer right right. This is also 46 00:02:53.120 --> 00:02:56.159 this is also why this is also another example of 47 00:02:56.280 --> 00:02:58.800 why in the short run it can be so tempting 48 00:02:59.159 --> 00:03:02.000 to chase the things that are running by the breakouts. 49 00:03:02.240 --> 00:03:05.360 But this is why we believe in value investing, and 50 00:03:06.560 --> 00:03:08.560 and sometimes it takes a while, sometimes it's going to 51 00:03:08.599 --> 00:03:12.159 be frustrating. But when we were back buying Camico at 52 00:03:12.199 --> 00:03:15.400 eight point fifty, it was so bloody cheap. The only 53 00:03:15.520 --> 00:03:18.319 thing you were worried about was what would be the 54 00:03:18.439 --> 00:03:21.599 catalyst to get people to notice the stock right. And 55 00:03:22.199 --> 00:03:24.520 I'll be honest with you, it was a frustrating trade 56 00:03:24.599 --> 00:03:26.800 for the first two years. But then you look back 57 00:03:26.960 --> 00:03:30.120 six years and you know, a nine x return in 58 00:03:30.240 --> 00:03:34.159 six years isn't too bad, Todd. I'll take that annualized 59 00:03:34.159 --> 00:03:37.439 grade of gain right right, And it works over the 60 00:03:37.520 --> 00:03:39.960 long run, and that's how you're going to get big wins. 61 00:03:40.039 --> 00:03:43.560 And that's how we've gotten the majority of our big wins. Unfortunately, 62 00:03:43.639 --> 00:03:46.319 it's just become a very unpopular way of investing because 63 00:03:46.360 --> 00:03:50.360 everybody is so short term minded. But it's still not 64 00:03:50.400 --> 00:03:51.879 going to be how you find your biggest wins, and 65 00:03:51.960 --> 00:03:54.280 it's certainly not going to be jumping on the Jim 66 00:03:54.360 --> 00:03:57.400 Kramer bandwagon after nine x returns of already been name. 67 00:03:57.879 --> 00:03:59.800 Let's tell you a second. He did a feature the 68 00:03:59.879 --> 00:04:02.680 day about business ideas. He's trying to help young entrepreneurs out, 69 00:04:02.919 --> 00:04:04.599 and I'll tell you an ID he had, and I'll 70 00:04:04.599 --> 00:04:06.479 see what you think of this one. This is a 71 00:04:06.560 --> 00:04:10.360 good opportunity to talk about this halfway webinar you're doing. 72 00:04:10.560 --> 00:04:14.240 It's you're looking at our country as if people's retirement 73 00:04:14.240 --> 00:04:19.000 accounts are sports teams, they're financial advisors. How are they 74 00:04:19.079 --> 00:04:22.800 doing if they have a fiduciary, big difference. Fiduciaries have 75 00:04:22.839 --> 00:04:26.160 to put their their financial interests behind ours, your fiduciary 76 00:04:26.199 --> 00:04:29.079 at Bulwark. So you're looking at it halfway through the year, 77 00:04:29.519 --> 00:04:32.040 and then you're gonna be looking at risk profiles, costs. 78 00:04:32.120 --> 00:04:34.120 How you guys are always looking to cut costs? Can 79 00:04:34.160 --> 00:04:38.399 you give people any like maybe hint in this because 80 00:04:38.399 --> 00:04:41.279 the webinar's free, but these things like they fill up. 81 00:04:41.319 --> 00:04:43.639 It's Know Your riskpodcast Dot com to register for this 82 00:04:43.800 --> 00:04:46.240 Know Your Risk podcast dot com. Just give someone just 83 00:04:46.360 --> 00:04:49.319 maybe a tiny little tease, just a taste of the cocaine. 84 00:04:50.480 --> 00:04:53.600 Yeah. So, in investing, I think one of the biggest 85 00:04:53.639 --> 00:04:55.439 misnomers is that there's a right way to do it 86 00:04:55.480 --> 00:04:56.920 and there's a wrong way to do it. There's a 87 00:04:56.959 --> 00:04:58.920 lot of different ways to do it. But the thing 88 00:04:59.000 --> 00:05:01.639 that has always re resonated with me, and I think 89 00:05:01.720 --> 00:05:04.560 it makes all the sense in the world is our 90 00:05:04.680 --> 00:05:06.519 job is not to sell you a B and C. 91 00:05:06.759 --> 00:05:08.839 What our job to do. What our job should be 92 00:05:08.920 --> 00:05:13.199 as a money manager is to accomplish your goals while 93 00:05:13.279 --> 00:05:15.399 taking as little risk as possible. 94 00:05:15.879 --> 00:05:16.000 Right. 95 00:05:16.120 --> 00:05:19.079 So a perfect example of this, now listen, people hear 96 00:05:19.160 --> 00:05:20.959 me say this, Like, we have plenty of clients that 97 00:05:21.120 --> 00:05:23.959 don't use these products. It all depends on what's right 98 00:05:24.040 --> 00:05:26.560 for you. But a big example of what makes us 99 00:05:26.600 --> 00:05:29.439 different is we have we always used to own stocks 100 00:05:29.480 --> 00:05:34.000 and bonds. Okay, interest rates went to zero, so bonds 101 00:05:34.079 --> 00:05:36.720 lose money when interest rates go up. When should you 102 00:05:36.759 --> 00:05:39.519 get out of bonds, I'd say when rates are zero, 103 00:05:39.560 --> 00:05:40.879 it's probably a pretty good time. 104 00:05:41.240 --> 00:05:41.439 Yes. 105 00:05:42.360 --> 00:05:46.879 So instead of using bonds, we used our bond replacement 106 00:05:46.959 --> 00:05:50.160 strategy if it was appropriate for somebody, and we use 107 00:05:50.240 --> 00:05:54.120 something called the fixed indextinuity. Now they get ranked on 108 00:05:54.279 --> 00:05:56.439 a lot and people take shots at them. But the 109 00:05:56.519 --> 00:05:58.639 one thing I'd like people to remember is one of 110 00:05:58.680 --> 00:06:01.240 the reasons they take shots at them is because everybody 111 00:06:01.319 --> 00:06:04.120 taking shots out of them is an investment company. Okay, 112 00:06:04.240 --> 00:06:05.839 Annuities are an insurance product. 113 00:06:06.120 --> 00:06:06.279 Yep. 114 00:06:06.519 --> 00:06:10.000 They Investment companies can't charge fees on insurance products. So 115 00:06:10.399 --> 00:06:12.720 that doesn't mean all. Yeah, it doesn't mean all insurance 116 00:06:12.759 --> 00:06:16.759 products are good. It doesn't mean that. It doesn't mean 117 00:06:16.839 --> 00:06:19.839 that you should have insurance products instead of stocks. Yeah, 118 00:06:19.920 --> 00:06:22.000 But what it does mean is if I've got a 119 00:06:22.079 --> 00:06:24.920 bond that is paying me less than the inflation rate, 120 00:06:25.079 --> 00:06:28.560 and I am paying a management fee for that and 121 00:06:28.759 --> 00:06:32.040 interest rates are zero, and I'm doing that because that's 122 00:06:32.079 --> 00:06:35.519 a safer investment, why not go buy this investment that 123 00:06:35.720 --> 00:06:38.560 has no fee, that averages you know, four to six 124 00:06:38.680 --> 00:06:42.600 percent a year and is insured against loss. So a 125 00:06:42.680 --> 00:06:46.040 good example of this was in twenty twenty two, the 126 00:06:46.160 --> 00:06:49.639 worst year ever for bonds, when bond portfolios were down 127 00:06:49.680 --> 00:06:55.600 thirty to forty percent. Our clients didn't lose a dime, right, Yeah, 128 00:06:55.800 --> 00:06:59.040 So now again, we have plenty of clients that don't 129 00:06:59.120 --> 00:07:01.399 use those products. It's not right for everybody. But my 130 00:07:01.480 --> 00:07:04.720 whole point is saying, we're looking at a portfolio and going, Okay, 131 00:07:04.800 --> 00:07:08.000 what do you need to accomplish? What out there? What 132 00:07:08.199 --> 00:07:11.120 is the best way we can build this portfolio to 133 00:07:11.279 --> 00:07:15.399 insulate you against risk but also give you the most 134 00:07:15.519 --> 00:07:18.279 upside at the same time, right, because that's the other thing. Oh, 135 00:07:18.360 --> 00:07:20.399 you're you're a nuity. Didn't lose And I'm like, well, yeah, 136 00:07:20.480 --> 00:07:22.879 but you know what that means. That means that when 137 00:07:22.920 --> 00:07:25.639 that's used with the stock portfolio, not only did it 138 00:07:25.720 --> 00:07:28.160 not lose, but you have a higher net return, right 139 00:07:28.319 --> 00:07:31.160 Like you made more money, taking less risk, paying less 140 00:07:31.160 --> 00:07:34.399 and fees. That should be the goal, And those things 141 00:07:34.600 --> 00:07:37.000 change from time to time, and so you've got to 142 00:07:37.040 --> 00:07:39.519 stay up on it. So our attitude is, hey, when 143 00:07:39.600 --> 00:07:42.240 things are like this, we do it this way. If 144 00:07:42.319 --> 00:07:46.199 they change, we do too. You know, right now, a 145 00:07:46.279 --> 00:07:50.000 lot of our clients have way more exposure to value 146 00:07:50.079 --> 00:07:56.240 type stocks, international type stocks, commodity type stocks, specifically precious metals, 147 00:07:56.560 --> 00:08:00.519 way more than the average you know, just market oriented portfolio. 148 00:08:01.000 --> 00:08:07.639 Why we're in an inflationary environment and inflationary environments, a 149 00:08:07.759 --> 00:08:11.639 totally different type of stock benefits, So you should change 150 00:08:12.000 --> 00:08:15.439 your you know, your approach one of the and this 151 00:08:15.600 --> 00:08:17.399 is something I keep bringing up, and this is one 152 00:08:17.439 --> 00:08:20.079 of the things that you know. This to me, I 153 00:08:20.160 --> 00:08:22.680 feel just as adamant about pounding the table on when 154 00:08:22.759 --> 00:08:25.040 rates were at zero and people were still in bond portfolios, 155 00:08:25.040 --> 00:08:27.199 where you're sitting there going you are in a can't 156 00:08:27.240 --> 00:08:29.639 win investment. Okay, You're going to sit around and make 157 00:08:29.720 --> 00:08:32.519 less than the inflation rate until interest rates go up 158 00:08:32.559 --> 00:08:34.480 and you get hit for twenty five to thirty percent. 159 00:08:34.759 --> 00:08:38.000 I was saying that since twenty fifteen, that's exactly what happened. 160 00:08:38.360 --> 00:08:41.799 Right you flip around, you have a very similar dynamic 161 00:08:41.919 --> 00:08:44.600 right now. Not only are you in an inflationary environment, 162 00:08:44.960 --> 00:08:48.039 but because this past period of time has been so 163 00:08:48.320 --> 00:08:51.759 dominated by one type of stock, the kind of stocks 164 00:08:51.840 --> 00:08:55.759 you need right now also happened to be generationally cheap, 165 00:08:56.279 --> 00:08:59.679 which is a wonderful opportunity. And so you know, it's 166 00:08:59.720 --> 00:09:02.120 not just about avoiding risk, and it's not us saying 167 00:09:02.159 --> 00:09:04.639 the sky is going to fall. What it is saying, though, 168 00:09:05.080 --> 00:09:08.200 is there is a generational opportunity in so many of 169 00:09:08.320 --> 00:09:11.840 these types of things to buy them at valuations where 170 00:09:12.159 --> 00:09:15.639 you have never seen those types of things is discounted 171 00:09:15.960 --> 00:09:19.159 to the normal US stock market than they have ever been. 172 00:09:19.840 --> 00:09:22.840 So I like to buy things when they're really cheap. 173 00:09:23.039 --> 00:09:25.279 It's a weird investment strategy, but it might work out. 174 00:09:25.399 --> 00:09:28.080 So if attend this halftime webinar at Zach is going 175 00:09:28.120 --> 00:09:30.679 to look at the country's performance. Halfway through, go to 176 00:09:30.840 --> 00:09:33.840 Know Your riskpodcast dot com to register investment advisors services 177 00:09:33.919 --> 00:09:36.440 up through check Financial LLC and sec Richard Investment Advisor 178 00:09:36.600 --> 00:09:39.159 Investments volve risk can not guaranteed past performances and guarantee 179 00:09:39.200 --> 00:09:41.879 future results truck twenty five. That's two five two. Since 180 00:09:41.919 --> 00:09:43.320 we have bagged Don Kramer a little bit and had 181 00:09:43.360 --> 00:09:44.759 some fun to expense, I did want to tell you 182 00:09:45.519 --> 00:09:47.879 I saw this feature. Apparently he does, and it's sort 183 00:09:47.919 --> 00:09:49.799 of to help out young entrepreneurs. And this was an 184 00:09:49.840 --> 00:09:55.960 interesting theory. He was talking about taking something that's sort 185 00:09:55.960 --> 00:09:59.679 of commodity, like just available anywhere, building an experience around it, 186 00:10:00.759 --> 00:10:02.440 like a you know, kind of a place. I think 187 00:10:02.480 --> 00:10:05.639 he called it a third place you would go and 188 00:10:05.960 --> 00:10:07.399 it would say And what he did is he said 189 00:10:07.480 --> 00:10:11.240 coffee that you could really kind of. 190 00:10:14.080 --> 00:10:17.759 Okay, that's like literally, that's literally like Starbucks. I mean 191 00:10:18.320 --> 00:10:22.600 he's a little he's at themselves the third place. Like 192 00:10:22.759 --> 00:10:25.399 that's literally what they call you know that. 193 00:10:25.559 --> 00:10:28.440 I know you know that No, I was, I was, 194 00:10:28.759 --> 00:10:30.600 I was not. I was babbelon being you. 195 00:10:30.759 --> 00:10:31.120 He didn't. 196 00:10:31.159 --> 00:10:35.519 He didn't really do that. Okay, but but you bought 197 00:10:35.559 --> 00:10:38.440 it because it would be very Cramer esque. Okay, let 198 00:10:38.480 --> 00:10:39.120 me run this by you. 199 00:10:39.279 --> 00:10:39.399 Uh. 200 00:10:41.639 --> 00:10:44.200 Look, is a guy is guys that are doing deep 201 00:10:44.279 --> 00:10:46.440 research all the time and really trying to find nuggets 202 00:10:46.440 --> 00:10:49.279 for our clients. It kills me because he's always telling 203 00:10:49.360 --> 00:10:51.960 these people to buy this stuff after all the money 204 00:10:52.039 --> 00:10:54.399 has been made right, and when it's dirt cheap, he 205 00:10:54.480 --> 00:10:56.919 doesn't like it. When it's expensive. Is he dirty? 206 00:10:57.679 --> 00:10:59.559 I mean, you can't say I don't don't don't answer 207 00:10:59.639 --> 00:11:02.240 that legal problems, so I don't think something you's just 208 00:11:02.279 --> 00:11:02.799 think he's dumb. 209 00:11:04.279 --> 00:11:06.799 I don't think he's dumb. I think that Jim is 210 00:11:06.879 --> 00:11:09.200 a I think he is a horse for a course, 211 00:11:09.639 --> 00:11:12.120 and I think, like a lot of investors for reasons 212 00:11:12.159 --> 00:11:15.879 that I will never understand, adapt completely to the environment 213 00:11:15.919 --> 00:11:18.720 they're in and forget all the lessons they've learned before. 214 00:11:19.159 --> 00:11:22.080 Why that happens every time? I don't I've never understood it. 215 00:11:22.480 --> 00:11:26.080 But that's you know, like the uranium thing's a perfect example. 216 00:11:26.519 --> 00:11:26.639 Right. 217 00:11:26.720 --> 00:11:30.799 We were buying uranium when literally the the price of 218 00:11:31.000 --> 00:11:35.919 uranium was was one third the production cost. So you 219 00:11:36.080 --> 00:11:37.840 knew it had to go up or it wasn't going 220 00:11:37.919 --> 00:11:38.320 to exist. 221 00:11:38.720 --> 00:11:38.840 Right. 222 00:11:39.240 --> 00:11:41.360 He didn't want to buy those stocks then because the 223 00:11:41.399 --> 00:11:46.639 stocks weren't doing well. And you're like, that's that's where 224 00:11:46.840 --> 00:11:50.480 buy it, you know, So you know, yeah again classic 225 00:11:50.559 --> 00:11:52.679 And guess what. Remember when I told you Camico, right 226 00:11:52.759 --> 00:11:56.120 is number Yeah, so he's like, buy anything uranium. One 227 00:11:56.159 --> 00:11:58.080 of the things he listens is you rn M. That's 228 00:11:58.120 --> 00:12:00.320 a fund, right, guess what the number one holding of 229 00:12:00.399 --> 00:12:04.559 you rn ms? I have Cammaco CCJ. And so you're 230 00:12:04.600 --> 00:12:10.399 just like, it's my it hurts. He's good on the TV. 231 00:12:10.559 --> 00:12:12.159 I mean, I'll give him this credit. He's good on 232 00:12:12.240 --> 00:12:12.600 the TV. 233 00:12:13.279 --> 00:12:15.799 He is. This is exactly. And now I'll tell you 234 00:12:15.879 --> 00:12:19.080 a real life story too, really short, same thing coming 235 00:12:19.120 --> 00:12:22.919 out of covid. Okay oil goes negative thirty eight. Now 236 00:12:22.960 --> 00:12:25.559 that was pretty wild to see, right. I remember a 237 00:12:25.639 --> 00:12:28.039 conversation we had in our office that day where we go, 238 00:12:28.080 --> 00:12:30.919 all right, boys, plug your nose, we're digging deep, load 239 00:12:31.159 --> 00:12:33.159 up on oil. Okay. 240 00:12:33.399 --> 00:12:33.600 Yeah. 241 00:12:33.960 --> 00:12:36.919 Everybody's like why and I'm like, cause they're giving it away, right. 242 00:12:37.679 --> 00:12:40.720 So Jim Kramer comes over out the next day and 243 00:12:40.799 --> 00:12:47.799 he goes, now, oil's uninvestable, and I'm going, you, you 244 00:12:47.919 --> 00:12:49.960 want to buy that sixty, but you don't want to 245 00:12:49.960 --> 00:12:53.000 get it when it's good. They're giving it away. Yeah, 246 00:12:53.200 --> 00:12:56.159 it's uninvestable. And so literally we heard that and we 247 00:12:56.200 --> 00:12:59.080 went double down. We increased our oil holdings on him, 248 00:12:59.120 --> 00:13:02.000 saying that because sitting there going it's never been better, 249 00:13:02.159 --> 00:13:04.399 it's never been cheaper. You know, the world needs oil. 250 00:13:04.639 --> 00:13:06.840 You think oil is gonna stay it twenty dollars a barrel? 251 00:13:07.120 --> 00:13:10.240 Anyone ever? Does anyone ever confront him? Does he ever 252 00:13:10.320 --> 00:13:12.720 go to industry meetings? And does anyone ever like on 253 00:13:12.799 --> 00:13:16.639 a panel I got to tell industry. Okay, So I 254 00:13:16.759 --> 00:13:19.519 said this in a super rude way, and I deeply, 255 00:13:19.960 --> 00:13:22.559 deeply hate that I said this. I would love to 256 00:13:22.559 --> 00:13:24.679 figure out who this man is. I would love to 257 00:13:24.720 --> 00:13:27.399 go apologize to him. I was not to discappled Christian 258 00:13:27.440 --> 00:13:29.919 at the time. That's no excuse. I'm on a panel 259 00:13:29.919 --> 00:13:33.000 in Hollywood and there's a guy from a major agency 260 00:13:33.080 --> 00:13:36.080 there and we're talking about Facebook, okay, And I was 261 00:13:36.159 --> 00:13:38.039 in a period of time where Microsoft had asked me 262 00:13:38.600 --> 00:13:41.200 to study Facebook. How is this singing to make money? 263 00:13:41.360 --> 00:13:41.919 What is it? 264 00:13:42.159 --> 00:13:44.879 Is there any tech? What's our role in this? Should 265 00:13:44.919 --> 00:13:45.320 we buy it? 266 00:13:45.600 --> 00:13:46.200 What should we do? 267 00:13:47.120 --> 00:13:49.559 And so I'd come back with this recommendation, and what 268 00:13:49.679 --> 00:13:51.279 I was saying is, look, this is a data and 269 00:13:51.360 --> 00:13:53.360 an app play and that's what it was at the point. 270 00:13:53.799 --> 00:13:56.279 They have so much data, but it's behavioral data. You 271 00:13:56.440 --> 00:13:59.440 can't think of buying that they're getting in terms of 272 00:13:59.519 --> 00:14:03.159 how people interact, when they interacts, There's looks like they're 273 00:14:03.159 --> 00:14:05.960 looking at emotional data. There's a whole it's a massive 274 00:14:06.120 --> 00:14:10.639 data suck, data vacuum. So I'm on this panel and 275 00:14:11.159 --> 00:14:16.159 the panel leader, the moderator, says, do you think Facebook 276 00:14:16.200 --> 00:14:20.360 will be a viable platform for advertising? And this guy 277 00:14:20.480 --> 00:14:23.600 with a major international ad agency says, you know what, 278 00:14:23.679 --> 00:14:26.519 that really remains to be seen, That means to be seen. 279 00:14:28.440 --> 00:14:32.639 And it came to me and I said, well, are 280 00:14:32.720 --> 00:14:35.360 you asking me if the world's number one social platform 281 00:14:37.360 --> 00:14:41.279 that has data on when people are going to do 282 00:14:41.399 --> 00:14:45.480 a thing together? Such as twenty people going to a 283 00:14:45.600 --> 00:14:48.879 movie together, all of them are going to need gas, 284 00:14:49.240 --> 00:14:55.519 probably a place to eat, going on vacation together, that 285 00:14:55.639 --> 00:14:59.000 there are people who joined this support group for pre diabetes. 286 00:15:00.480 --> 00:15:02.440 Are you asking this, I don't know. 287 00:15:03.120 --> 00:15:03.960 This is how rude it was. 288 00:15:04.039 --> 00:15:05.919 Are you asking me if that's going to make money? 289 00:15:06.159 --> 00:15:09.159 That is the stupidest question I've ever heard in my 290 00:15:09.360 --> 00:15:11.440 entire life. And anybody who doesn't see that should never 291 00:15:11.519 --> 00:15:12.480 be in the advertising business. 292 00:15:12.519 --> 00:15:12.759 Again. 293 00:15:13.759 --> 00:15:16.600 Now, I mean, that was very, very rude, But this 294 00:15:16.840 --> 00:15:17.080 was in. 295 00:15:18.600 --> 00:15:20.960 Hey, listen, you were dead right and all to the 296 00:15:21.039 --> 00:15:24.519 point where I was. So I learned I learned that 297 00:15:24.799 --> 00:15:28.759 same thing way later than you did, because I all 298 00:15:28.799 --> 00:15:31.399 of a sudden, I remember, I just kept it was 299 00:15:31.480 --> 00:15:33.200 social media, right, and it was just tech, and it 300 00:15:33.279 --> 00:15:35.159 was hype, and I just kind of dismissed it, dismissed it. 301 00:15:35.440 --> 00:15:36.720 And then all of a sudden I was reading and 302 00:15:36.799 --> 00:15:39.799 doing some research and I went, oh, my goodness, this 303 00:15:40.039 --> 00:15:43.960 is the greatest curator of consumer data that has ever 304 00:15:44.360 --> 00:15:48.440 been invented. Yep. Yes, Like, and you realize all of 305 00:15:48.440 --> 00:15:51.200 a sudden, You're like, they know where you're going, they 306 00:15:51.320 --> 00:15:53.480 know what you're buying, they know what you're wearing. They 307 00:15:53.559 --> 00:15:55.200 know who you're doing it with, they know who you're 308 00:15:55.200 --> 00:15:57.159 shopping with, they know what you're using to buy it with. 309 00:15:57.440 --> 00:16:00.080 Right They literally they know everything. They know when you 310 00:16:00.200 --> 00:16:02.120 do it, they know what types of the year you spend. 311 00:16:02.200 --> 00:16:05.759 More like you're putting it all on Facebook. It yes, 312 00:16:06.039 --> 00:16:07.679 you saw it earlier, and I did, man well, I 313 00:16:07.759 --> 00:16:08.720 was assigned to go look at it. 314 00:16:08.840 --> 00:16:11.159 And then when when we had a product at Microsoft, 315 00:16:11.200 --> 00:16:14.960 I don't remember what it was called, there was MySpace. 316 00:16:15.000 --> 00:16:18.039 I think it was called spaces, and this is where 317 00:16:18.080 --> 00:16:22.279 you would go store notes, you know, ideas, are things 318 00:16:22.320 --> 00:16:26.720 you wanted to do, snippets of writing you're working on, pictures, photos, 319 00:16:26.960 --> 00:16:30.240 songs that you liked. And I looked at this and 320 00:16:30.360 --> 00:16:32.440 I remember going back to the guy who was running 321 00:16:32.440 --> 00:16:34.200 this and said, I've got a question for you. Why 322 00:16:34.320 --> 00:16:37.320 not take this and integrate it with Messenger so that 323 00:16:37.440 --> 00:16:39.799 everybody can see everybody else's stuff and you could share 324 00:16:39.840 --> 00:16:48.000 this with your friends. And he goes, why so you 325 00:16:48.159 --> 00:16:50.200 could share it? But but this is what that's that's 326 00:16:50.360 --> 00:16:51.240 we don't see it this way. 327 00:16:51.279 --> 00:16:51.720 This is true. 328 00:16:51.840 --> 00:16:54.679 This is a storage place, this is a utility. And 329 00:16:54.919 --> 00:16:57.200 this was the same company I begged them when when 330 00:16:57.320 --> 00:16:59.159 when Facebook started to hit, I begged them to buy 331 00:16:59.240 --> 00:17:03.360 classmates dot com member that site yep, yep. Why it's 332 00:17:03.399 --> 00:17:05.279 not make any money, Because it's not making any money. 333 00:17:06.039 --> 00:17:09.359 They've got all this data, they've got everybody and where 334 00:17:09.359 --> 00:17:12.480 they graduated from, and they don't let them interact. All 335 00:17:12.559 --> 00:17:15.000 it is is you can you know, you know, sometimes 336 00:17:15.079 --> 00:17:18.240 go scan and see who's going to the reunion. They've stopped. 337 00:17:18.279 --> 00:17:22.039 They sell reunion books, they sell pictures of what you 338 00:17:22.119 --> 00:17:24.599 look like that and now they haven't said visit with 339 00:17:24.680 --> 00:17:26.640 your old high school friends. This could be a legit 340 00:17:26.759 --> 00:17:32.319 Facebook competitor tomorrow. And these mindsets, man, these mindsets people get. 341 00:17:32.720 --> 00:17:34.559 You don't work a software company and you know we're 342 00:17:34.559 --> 00:17:38.079 going to produce productivity software. That's great, be a productivity 343 00:17:38.119 --> 00:17:40.519 software company. Then don't pretend to go be a media company. 344 00:17:40.720 --> 00:17:41.359 Don't do that well. 345 00:17:41.400 --> 00:17:43.519 And to get to your point, I mean in corporate 346 00:17:43.519 --> 00:17:45.960 America is very much the same. But investing too now 347 00:17:46.119 --> 00:17:49.079 and obviously like you can't be a contrarian just for 348 00:17:49.160 --> 00:17:53.440 the sake of being a contrarian, but contrary, it's but 349 00:17:53.559 --> 00:17:57.599 when you when you're chasing popular, when you're just following 350 00:17:57.680 --> 00:18:00.359 the crowd, especially in investing. If you think about it, 351 00:18:01.079 --> 00:18:03.839 Warren Buffett has a saying which nobody ever really thinks about, 352 00:18:03.880 --> 00:18:07.200 But it's so true that the number one thing that 353 00:18:07.440 --> 00:18:11.160 defines the success of an investment is the price you 354 00:18:11.279 --> 00:18:15.039 pay period. Right, Like that's the people don't think of that, 355 00:18:15.240 --> 00:18:16.640 but that is what defines it. 356 00:18:16.839 --> 00:18:16.960 Right. 357 00:18:17.480 --> 00:18:20.440 So, uh, even if that asset goes down, how much 358 00:18:20.440 --> 00:18:22.480 are you gonna lose, depends on what you bought it for. 359 00:18:22.920 --> 00:18:24.720 If the asset goes up, how much you're gonna make, 360 00:18:24.720 --> 00:18:26.799 it all depends on what you bought it for. Right, 361 00:18:26.920 --> 00:18:30.119 So when do you want to buy things? By definition, 362 00:18:30.640 --> 00:18:32.880 you want to buy them when all the guys like 363 00:18:33.000 --> 00:18:36.279 Jim Kramer aren't talking about them because by the time 364 00:18:36.400 --> 00:18:40.119 they're talking about them, right, because they're chasing what's hot. 365 00:18:40.200 --> 00:18:43.279 Right now, you're gonna have to pay, like for in 366 00:18:43.359 --> 00:18:45.880 the in the case of chemical, by the time Jimmy 367 00:18:45.960 --> 00:18:49.759 came around to uranium, that stock at already nine xt right. 368 00:18:49.920 --> 00:18:50.000 Ye. 369 00:18:50.200 --> 00:18:52.440 By the time he came around to oil, oil was 370 00:18:52.519 --> 00:18:55.039 backup at eighty a barrel and not fifteen where he 371 00:18:55.039 --> 00:18:58.359 said it was uninvestable. So like that's just the there's 372 00:18:58.400 --> 00:19:00.480 times where you see things. Why did we jump all 373 00:19:00.480 --> 00:19:02.920 over the oil trade? What are you joking? You think 374 00:19:02.960 --> 00:19:04.920 oils are gonna keep giving it away? It's gonna stay 375 00:19:04.920 --> 00:19:07.240 at twenty dollars a barrel. You're an idiot. How long 376 00:19:07.359 --> 00:19:08.680 do you think it's How long will it take to 377 00:19:08.720 --> 00:19:11.039 bounce back up? I don't know, but they're giving it 378 00:19:11.119 --> 00:19:13.400 away right now. So we're going to back up the truck. 379 00:19:13.440 --> 00:19:15.480 But there's another way to not rocket science. There's another 380 00:19:15.519 --> 00:19:18.759 way to invest and this and I don't look you. 381 00:19:19.599 --> 00:19:21.759 You manage my money, most of it for a reason, 382 00:19:22.039 --> 00:19:25.359 my fiduciary, But there is another way. And I'm going 383 00:19:25.400 --> 00:19:27.480 to challenge you here, okay, And I don't like doing this, 384 00:19:27.599 --> 00:19:29.720 but I'll do this in just a second. So Zach, 385 00:19:29.759 --> 00:19:30.960 and one of the things that Zach and I both 386 00:19:30.960 --> 00:19:34.640 agree on is that politics is downstream of culture, right, 387 00:19:35.200 --> 00:19:38.720 and that culture is downstream of God Almighty, because God 388 00:19:38.759 --> 00:19:43.240 Almighty is upstream of every single thing. And Angel Studios 389 00:19:43.279 --> 00:19:47.039 appears to believe the same thing. Angels makes movies that's 390 00:19:47.240 --> 00:19:52.519 absolutely affirm faith. They're absolutely family valued, and they've done 391 00:19:52.559 --> 00:19:54.759 this despite the fact that they were told you can't 392 00:19:54.839 --> 00:19:57.960 do that, you can't build a family oriented faith oriented 393 00:19:58.039 --> 00:20:02.240 studio that can't happen. They it breakout movies like Sound 394 00:20:02.279 --> 00:20:06.240 of Freedom, breakout movies, or breakout programs like The Chosen. Recently, 395 00:20:06.319 --> 00:20:09.400 they took on Snow White, they took on this ridiculous 396 00:20:09.440 --> 00:20:13.319 Pixar movie that failed, and they won with King of 397 00:20:13.400 --> 00:20:16.200 Kings that is right now streaming on their platform. It 398 00:20:16.359 --> 00:20:19.359 was no longer in theaters, though it dominated theaters, and 399 00:20:19.559 --> 00:20:22.640 it's part of a very important movement that you should 400 00:20:22.759 --> 00:20:24.839 invest in. If you pay any money at all from media, 401 00:20:25.039 --> 00:20:27.240