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VRA Investing Podcast: Interest Rates, Inflation, and Investing in an Uncertain Climate – Kip Herriage – April 16, 2024

In today's episode, Kip dives into a wide range of topics, from the current market's health to upcoming tech giant earnings like Tesla, Meta, and Google. Despite global tensions, Kip brings to light the underlying economic strengt ...

Posted On April 16, 2024Episode 1365
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About This Episode

In today's episode, Kip dives into a wide range of topics, from the current market's health to upcoming tech giant earnings like Tesla, Meta, and Google. Despite global tensions, Kip brings to light the underlying economic strength and financial stability of major companies. Tune into today's podcast to see what the VRA Investing System is telling us looking forward.

Transcript

Don’t look back because the market is closed. Good Tuesday afternoon, everyone. Kip Herriage here with the Daily VRA investing podcast.

Hope you had a great day today. Let’s see, it’s a textbook, textbook looking mini, not even correction, right? What do you call this, a little shakeout, another buy the dip opportunity, but it does look textbook. Covered that a little bit. Boy, we’re very close to big, big tech earnings next week, Tyler. Tyler tracks all this stuff very closely.

He just told me, check this out. Next Tuesday Tesla. Wednesday meta Thursday, Google, Amazon, Intel, Microsoft. So we’re just a week away from today from Tesla, kicking off some big tech, big innovation, revolution names. And if you’re with us here at the VRA, you’ve been listening that we’re pretty stoked about what’s happening in the world of tech and then what’s happening in the world of really just GDP growth, corporate earnings. And look, we’ve had a war risk in the market, right? There’s no mystery here. You have to be living under a rock not to know it. Now the concern is Israel.

[00:01:17]:
Are they going to react and they going to do something? Is this going to become a wider regional crisis? All the folks out there saying, okay, world War Three has started. I’m sorry, I just, I can’t listen to you. And the reason why is you said it a hundred times over the last decade and your credibility is, if I’m be honest, your credibility is shot. So, yeah, let’s lay off the here comes world war three nonsense because we can’t make money doing that unless it actually is. And by the way, there’s a strategy for that as well. When the bullets fly, stocks are abide. But again, that’s a timing mechanism. But unless you think the worst case scenario is going to happen.

Yeah, rates are moving up a little bit. Okay, again, we’ve covered this often, I just mentioned it again because it’s one of my favorite topics, because I lived through it, worked through it, had a lot of fun doing it. 1995 to 2000, what was that? Yep, that was the.com melt up. And it was a five year party essentially. And what people, people remember that, of course they remember the.com, the dot bomb as they call it. But what most people seem to have forgotten, and I see no one talking about this, I think it’s, I think it’s relevant. Is it during, you’ve heard us talk about a lot. I’ll cover quickly, 95 to 2000, the average yield on the ten year was better than 6%, higher than 6% with spikes over 7% again, we’re 4.65% now.

[00:02:43]:
So why are rates going higher? Yeah, inflation is a little sticky. But remember, if you pull out of this last TPI report because Jay Powell was out talking today, if you pull out two items out of the core CPI from this past month, if you pull out shelter, which I know is a biggie, okay, shelter costs are coming down. If you pull shelter out. And insurance, insurance costs have been skyrocketing, but that also is a lagging indicator. So shelter, these look to now be on the backside going lower. But if you pull those two out, core CPI is below 2% and it’s been below 2% now for, I believe it’s three, four months. So yeah, inflation is sticky. Rates are higher than we’d like.

We may have a regional conflict to be concerned about. So it’s not that there aren’t risk. But again, now you start thinking about bull markets, climb a wall of worry. I personally don’t see these as well, what I would signify as elevated risk. To me, they’re just not. And let’s all hope that I’m right about that. Right. If that’s the case, then this is a textbook set, folks, textbook setup going into tech earnings next week, because unless you feel differently than we do, and again, we’ve covered this ad nauseam since we wrote the book the Big Bribe and we talked about the strength of this economy, the fact that consumers and american companies are in their best financial shape in decades.

[00:04:22]:
That’s not an overstatement. It is actually hard fact. That is reality. And we’ve got all the data to back it up. People used to fight us on this. Now they don’t even try because they know we’re just come back to you with, here are the 15 metrics we can show you that prove that we’re right. And the fact that we now are in an innovation boom, a disruption boom, AI boom, we call it the innovation revolution. And again, these are not short term cycles.

These are long term events that take place over multiple years. Again, similar to 95 to 2000. So if you’re, you know, if you’re, if you’re from the same school of thought that we are, this is a textbook drawdown. It’s a textbook opportunity going into next week’s big tech earnings, which, which again, we should absolutely crush. Analysts have been raising estimates. That’s true. Yes, there is a potential for some misses because of those raises. But folks, they haven’t caught up enough.

[00:05:20]:
They’re not there yet. Jay Powell today was out talking about this. It’s some. I watched just a bit of it. I saw some of the quotes talking at some conference about, yeah, you know what, we’re having difficulty getting inflation down to a 2% level. And. Yeah, inflation’s higher than we wanted. Yeah, it may put off our rate cuts some.

The markets just haven’t cared, have they? Again, initially we were looking, remember, we were supposed to have rate cuts by July of last year. That was when the first rate cut. But it didn’t happen, did it? Well, SVF 100 is up 30% since then. So the markets clearly are fine without rate cuts. And I think that goes back and proves our point again, when rates were much higher than they are now, the market had its biggest bull market in us history when the average ten year was better than 6% over a five year period. So I don’t think rates are the problem market. The economy clearly has not cared. Just today we learned the Atlanta Fed.

[00:06:29]:
Atlanta Fed just raised their gdp now estimate from 2.4% to 2.8% for the first quarter. First quarter GDP. Ed Giardini, I wrote this up this morning, and I want to spend a minute on this because it’s so interesting, because nobody’s talking about this. I love talking about things that almost no one else is talking about. I want to read you part of what Yardini put out today. His title was no lady, if you don’t know. Ediardini, long term famed economist. Been around probably about as long as I have.

Although I think he looks old. He looks older than I do. But again, I’m sure that’s the ego of me speaking now. He’s a great guy. I think he actually is. He has been doing this longer than even I have. Yardini, very good economist. I would say that with Ed Hyman, who of course, we love at Evercore, and Ed Jardini, there’s a couple of more, but these are the guys we kind of rely on to give it to a straight.

[00:07:26]:
And Yardini has been right. He’s been excited about the economy, about the strength of the economy. He’s been there with us about four months after we said we’re in the roaring 2020s. Jardini said it. So we’ve been tracking with Jardini for a while. He said, this is neither a hard or a soft landing. This is a no landing. The US economy is still flying high.

And here’s the important part, he said that’s because consumers didn’t get the recession memo. They keep spending because real disposable income is rising. More Americans are retiring and they had the means to do so comfortably. And this is the part I want to talk about. And 6 million or more newcomers are consuming here rather than south of the border. So I cover this a bit. I actually haven’t written it up yet. This is a poisonous topic.

[00:08:24]:
It’ll be extremely unpopular when I write this up. If you already know where I’m going with this, you’re probably cringing now that I’m going to talk about the upside to illegal immigration. But there it is. Edgar Dean, he just said it. At least 6 million illegal aliens have entered this country since Biden was president. Most of these in the last two and a half years. And it’s a lot of people that’s probably on the low side, if that’s what, that’s the number guardian is using. It’s probably more like eight.

It may be not. Who knows what the number is, right? And yeah, we’re all, we’re all sick to our stomach because of it. I mean, God, you can’t, you can’t, Trump was right. Can’t have a country. You don’t have a border. Okay? And we all don’t know the downside from it, but almost no one’s talking about the upside because there is an upside to it. And it’s, and it’s GDP, it’s strength of the economy, it’s consumer spending, it’s gross domestic product growth because they are spending most of their money here. I’m sure they send a lot because of course, they’re all getting stipends.

[00:09:27]:
I had a, I was just in Vegas last week and one of my drivers was hispanic, proud mexican. Been in the country legally over 30 years, raised his family, hardworking guy. Guaranteed me that Trump was going to win. So he’s all right winged up, if you will. And he just went off on illegal immigrants. And it’s like he told me things I hadn’t heard before. Now, he said that his wife works in this area and he spoke very confident, like he knew about this, that they’re all getting $1,000 a month, they’re getting free health care, they’re getting food stamps and they’re getting help with their rent. And I think that’s probably all true.

Okay. I don’t have all those facts, but yeah, that has a cost to it, right? What is that cost? This, again, this is a topic that very few want to breach. What is the cost to us? It’s debt, right? It’s added debt. We are giving these illegal aliens money that taxpayers are paying for, but it’s coming as bottom line is coming from debt. Well, that’s an illusion. Now, it may not be for you and I. It’s not for you and I. We don’t pay our debt.

[00:10:40]:
People come after us. Right? But who’s going to come after the government if they don’t pay their debt? Nobody. Because we never will never. We will never not pay our debts. So when I hear people talk about the US is going to default on our debt, you know, listen, when I was a younger man, that message probably would have stuck with me. That message is complete nonsense. Now, the US will never default under debt. It just won’t do it.

We’re always going to be able to print money. Now, again, we could have the Weiberg Germany set up. Okay? Obviously the worst of things can happen, and that may happen. I don’t think so, but it may happen. Maybe I see it on the horizon. Maybe in the next 1520 years, maybe 30, probably more like 40, 50. It’s a long term. It’s a long term run up to insolvency and to hyperinflation is really what we’re talking about.

Right? So that’s not a problem of today. It’s just not. It’s like the people that keep saying the dollar is going to crash. I wished it would. Right now, the dollar is way too strong right now. It is causing some havoc internationally. Okay. Emerging markets is putting pressure on the japanese yen and their currency relationship with the US dollar.

[00:11:51]:
So yeah, I would love to see the dollar weaken. It just hasn’t been. Now it is lower than it was a year, year and a half ago. So it’s still in a downtrend longer term, but it’s been, I mean, it’s been garlic strong in a more recent term. So point being, the debt that’s increasing to allow these illegals to be paid this money, government debt’s an illusion. That’s the key point here. Government debt is, at least in modern days, in our time now debt is an illusion because they just keep printing more of it. Yes, that does add to our inflation.

That is, that that’s, that is inflation. There is no other inflation than currency debasement, currency printing. There is no other inflation. That’s. That is inflation. Printing more money, making our current money worth less. But you see the flip side of this. If debt is an illusion and in the meantime, these illegals are getting, you know, I mean, we should run the numbers, is what are they getting total? How many, how many hundreds of billions of dollars? Is going into the global, into the US economy over a five year period.

[00:13:10]:
So again, there is a flip side to this and there are a lot of reasons you can point to say the US economy is strong and there are these outliers you can say that are allowing, as Edgar Dini says here, they’re having the Atlanta Fed raise their GDP estimates from 2.4 to 2.8%. Consumer spending, again, it’s very strong. Yesterday we got the retail sales numbers very strong. You just can’t be a credible person in my opinion, and continue to say the US economy is in trouble. That has been the Republicans message because it’s just not true. Us economy is really strong. I think it’s much stronger than the official data is telling us. And I said that on Charles Paine’s show last week.

And I think that, again, I think that’s what the market’s telling us. So at the end of the day, here’s the key point. This, this quarterly earnings, corporate earnings will continue to improve, will continue to grow. The US consumer who’s already in excellent shape, besides inflation, what is it out there you think is going to make it worse? Look at the employment, still very strong. Yeah, the economy is weakening around the edges. But again, we have a perfect setup here. Really do. We have a textbook set up here for a bull market that will continue to move higher.

[00:14:36]:
And that’s been our message consistently from the October 13, 2022 bear market lows we called the bottom that day. We forecast in our book the Big Bribe, the roaring two thousand twenty s. And we’ve been saying, as you know, this is a generational bull market driven by consumers and companies in their strongest financial shape in decades. And again, instead of getting caught up in the near term, myopic kind of a look, the key here is rising corporate earnings and GDP growth. Strength of consumer will continue to power the markets higher pullbacks are a gift. That’s the key point trying to make here. Tyler made it yesterday. Pullbacks are a gift.

Now how far is it going to go? Is it over? Talking about this current pause again, we’re now looking at what the SPF 100 is down right at as it was today’s losses. SF 100 is down 3.9% from its peak. Look, we have, every year we have in bull markets, we have drawdowns here. We have corrections of 810 12%. That’s pretty standard. Is this one of those? We don’t know, but I don’t think so. And I think we have the data that tells us not we think we’re going to get a big move higher into Q one. Earnings and selling May and go away.

[00:15:51]:
I don’t think is going to be a thing. This year really has not been a very accurate event now for I think the last couple of decades. It has not worked. It’s been more appropriate to say sell in July and go away. So I think this market’s got room to run. I think quite a bit of room to run. And I think we’re going to be rewarded for number one, for holding our positions. We have continuing to buy the dip and maybe for example in parabolic options.

What we’re looking at right now, I just sent this out a few minutes ago. We’re looking now at three great setups that we’re about to take action on. And I think if you’re an investor trader, you know, this might help you a little bit. Three positions we’re looking at first is GDX calls the gold miner ETF. I’ll talk about commodities a bit later. Love this group, as you know. Okay, gotta just say it. The Johnny come lately now that are just that have popped on the gold bandwagon.

[00:16:52]:
I look, I welcome you, welcome aboard. But just as a remember, a reminder in 2003 and my second ever Vre letter. This is BT before Tyler, right? What was Tyler doing 2003? He was in college, so in 2003. No, he was not. Tyler was. Tyler was eleven or twelve then. But before Tyler, when I had the VRA by myself in my second ever investment newsletter, I recommended gold, Silver. And they didn’t have GVX, didn’t exist yet, the miner ETf.

So I had to recommend Newmont mining was the one that we used then. Gold was $375 an ounce. Silver was $5 an ounce, give or take a few. A few pennies an ounce. I don’t remember exactly where Newmont was, but that was the first time that recommended. We haven’t taken our buy recommendation off. So the key for us is that we’ve always looked at goals. You heard me say before if you joined us before or always looked at gold, that’s my savings vehicle.

[00:18:00]:
I don’t keep a lot of money in a cash. In cash anywhere. Why would you? It’s a depreciating liability. Fiat money only loses value. You’ve probably seen this just since we went on the gold standard in 1971, right? 1971, I think that’s right. Went on the gold standard in 19 $71, lost 70% of its value. Can you imagine that? 70% its value. But people are keeping savings in that all right.

So, no, I don’t do that. I keep our savings in gold and now bitcoin, of course, as well. So again, we’ve been huge long term gold bugs. It’s fantastic seeing this breakout. This is a true breakout. As to why it’s happening, I see a lot of reasons out there. Everybody’s got their own favorite reason. I don’t know that anyone really knows for sure, but I think, I think I like to keep it simple.

[00:18:57]:
Number one, look at a chart this pattern, this perfect ball pattern. It’s been a ten year cup and handle formation perfectly formed. This is a massive breakout. And in technical analysis, the longer the sideways move, the higher the vertical move. And so you can actually chart this out and basically use a measuring step and you can say, okay, this is the length of the horizontal move. Take half of that. That’s going to be the vertical move. I mean, it’s fairly kind of simple.

And that’s what you see some of the estimates. People now saying, okay, yeah, gold’s going to $3,500 an ounce. That’s kind of a measured move based on this breakout. I think that’s on the low side. We’ve just met our minimum target, by the way, minimum target for 2024 was $2,400 now. So we’re over that now. I think this year I think we’ll see 3000 plus. But this is going to be that bull market for pressure metals and miners, and that’s fantastic.

[00:19:59]:
You know, it’s just a lot of people that have been long term believers in gold have been pretty beaten up for it. Everybody. Gold’s done nothing. What are you crazy? What are you talking about? Gold has kept up with inflation and then some, uses a savings vehicle, and now we’re making capital gains. Now we’re making profits, pure profits, on our gold. This has really been what’s driven so, so many of us gold bugs crazy. Is that why bitcoin has been going parabolic? We’re stuck with what we think is the ultimate, you know, a safe asset in gold. And it’s just really, it’s gone higher, but, you know, it’s obviously nothing like, like bitcoin has done.

So it’s just good to see. I think maybe the another key to this is that JP Morgan, who is rumored to be, of course, they’re also criminal enterprise. JP Morgan rumored to be the largest owner of gold in the country. And a lot of people believe that the largest short seller as well, they kind of got both sides covered. But all that, all it takes is for the manipulation to end for those that own it and control this manipulation process of gold. Again, Gatta, a gold antitrust action committee. I’ve known these guys for close to three decades now. They’ve proven in court that gold has been manipulated lower.

[00:21:18]:
And of course, no one pays the price. Civil penalties, no one pays the price for it. The media doesn’t cover it, but they proved that this is happening and that gold’s been manipulated lower. And now maybe some of that’s just gone. I think it’s, again, it’s a great setup. We do think gold and silver going a lot higher. The miners are dirt cheap. They’re just dirt cheap.

Matter of fact, that’s, again, that’s going to be one of our new buy recommendations for parabolic options. GDS calls. We’re looking at QQQ calls. That’s the Nasdaq 100 ETF again on the charts. These are pulled back from just two weeks ago. We were heavily overbought to extreme overbought levels on our broad market indexes. Now we’re heavily oversold to extreme oversold. So, again, it’s giving you, from a technical point of view, a great looking setup here.

[00:22:05]:
And from a fundamental point of view, again, with corporate earnings growing and GDP and consumer and the economy in good shape, fundamentally, this pullback is giving us great opportunity. What we don’t know is how far will the drawdown happen? Right? Will there be another external shock? Will something happen in the middle east? Will rates pop through five, the ten year pop through 5% and freak everybody out? So that’s what you don’t know from these drawdowns as of now. Again, we’ll call a 4% drawdown so far, you just don’t know how far. So you hate to get out over your skis and go in 100% and make your call and then not have a lot of cash left, because if the markets go further, then you feel like you jump the gun. Right? That’s the tricky part of this. But I think easing into it makes sense. Maybe buying half your position into before. Again, we want to be long before these tech earnings.

[00:23:02]:
That’s our call. Maybe take half of the cash you guys set aside, put that into the positions you want to own. Again, we’re looking at the miners at tech and bitcoin. Right. Talk about that more in a moment. So that’s kind of what I think we’re looking to do. And frankly, just talking about it on this podcast just helps. It really does.

So that’s kind of the first we’re going to use. So if we do get a little bit more of a shock, again, something goes wrong, we put the rest of the money work at a little bit lower price. But I think, again, so far this has been textbook. We’re welcoming. This is the ability to buy our favorite investments at cheaper prices. That’s the Warren Buffett school of buying your winter coats in the summer. All right, so here is markets. I should probably tell you this, you’ve already seen it by now.

I’ll cover quickly. Dow Jones today was our only index that finished high on the day. Again, markets were kind of all over the place today. No big move either way. Dow Jones finished down, excuse me, up 64 point. Again, great looking chart on the Dow Jones. It’s trading at extreme oversold levels in stochastics. And the other index, the other momentum oscillators retract.

[00:24:17]:
And if you’re investing system, also hitting oversold to heavily oversold levels. Dow Jones is the most oversold of the big indexes. So it makes sense they’d be up today. Everything else is down. Roast 2000 down four tenths 1%. SVF 100 down two tenths 1%. Nasdaq down one 10th, 1%. Again, we track the semis, as you know, very closely.

The SmH, the semi ETF today was up. We get a final quote here. Up nine tenths of 1%. Semis, by the way, down 9% from the, oh, just right. At 9% from their highs, semis are actually fallen and that’s typically what we don’t want to see. But again, it looks textbook, does it not? The fact they led the way lower. They led the little pause lower. As long as this doesn’t turn into something more serious, then the semi should be the first to move higher along with tech.

[00:25:08]:
That’s, that’s the way we’re going to be playing it here in our eternals. Let’s take a look at the, I got a lot of screens open on my systems here. There we go. We had advanced decline, so I’ll just round up or down a little bit on both. Two to one negative. Advanced decline both. For NYSE and Nasdaq, volume today was 74% down volume day. NYSE Nasdaq was 50 50.

So essentially unchanged on volume and new 50 week highs. The lows, this is not pretty. We had only 38 stocks hitting 50 week high to 483 stocks hitting a new 52 week low. So feels like we might get a little more weakness. And then again, great setup into next week. That’s how we’re playing. A lot of people very worried about what’s going to happen Middle East. A lot of people concerned about what the ten year and what rates are doing in our commodity sector watch.

[00:26:14]:
Apology sector watch here. I’ve got a new computer. I’m trying to make sense of this. It is different. We had only, of our eleven SPF hundred sectors, we had eight finished lower, three finished higher. Led the downside by real estate down one and a half percent. Utilities down 1.4%. Both lower, of course, because they don’t like higher rates.

Again, the ten year up today to a 4.65% yield, still below the 5% of last October. Right. But again, we’re creeping up to that. That’s, that’s. I’ll also tell you, though, the ten year yield is now hitting extreme overbought levels on the VR investing system. This is typically when you see some reversal lower. So we’ll see if that plays out. We’re not, we’re not, we’re not extreme about on steroids quite yet.

We’re getting close to it. Very close to it. To the upside today. We had very little here. Tech was up against, semis were up. Tech was up two cent, 1%. All right, let’s go into commodities now. Again, just, I just talked about gold and how we’re positioned and what we think here.

[00:27:21]:
Bull marketable markets goal today, $17 an ounce right at, right now, $2,400 an ounce. Silver down 1.8% of the day, but it’s still been, had a very good run at 20, 819 an ounce. Copper also had a very good run down close to 2% today at 430 a pound. And crude oil, again, a lot of metrics showing you that crude oil is topping out here, both from technical analysis and what they call backwardation, kind of sending, sending signals that maybe we’ve reached. That’d be good news for inflation. Right. So, but again, $85 a barrel, which is where we are now, these only gas companies are still making a lot of money. That’s kind of a sweet spot, frankly.

I have no problem. 80 to 85, even 90 above that, the market starts to get a little nervous. Again, 85 28 right now, essentially flat on the day. And finally, bitcoin got a little to talk about here. Last quote here on bitcoin is 63,253 as I speak. You know, look, it’s been what, oh, Saturday when the bombing started, when Iran started bombing Israel, bitcoin fell to a low 61,000. If you look at the chart, you’ll see there’s significant support at that level again right now. 63,400.

[00:28:40]:
248. Of course, the anticipation, excitement is about this week’s having and it’s coming. What are we, three days away? It’s either the 19th or 20th, depending on exactly when we get there. But we’re really, again, three or four days away. Very exciting. That’s going to change the landscape to a certain degree. But I don’t think it’s the only reason the halving is such a big story. Of course, it reduces the mining in half of the daily mining from 900 coins to 450 coins.

It makes it twice as expensive, essentially. So, yeah, that is important as a structural reason, that scarcity factor that works so well with bitcoin. But the bigger reason is how, again, bitcoin has performed one year to 18 months after the having, you know, ridiculous returns. 7900 only had three halvings. The four returns have been 7900%, 2900% and 700%. So we’ll see how this, the end result is. But the real story here is all the buying that’s coming in and it has yet to come in again. We know that the US Sec approved these spot ETF’s.

[00:29:52]:
Okay, that’s fantastic. And that’s, of course, brought in a lot of buying. And of course, the move higher has been near parabolic at points. But look at what. Look at who hasn’t yet purchased. For example, Hong Kong, where 10% of all wealth in the world is concentrated in Hong Kong. Of course, a lot of chinese money. Lot of asian money, a lot of us money.

Tax breaks there. Tax, tax advantages. Pretty cool for being in Hong Kong. No taxes there. Well, Hong Kong just approved the ability for investors, investment firms, et cetera, to buy, recommend and purchase bitcoin. These ETF’s that’s been approved. I saw the launch date today for actually the ability to do it is April 30. So we’re just two weeks away from Hong Kong being able to buy bitcoin.

Right behind that is South Korea. That those wheels are in motion. Right behind that is Europe. Again, most Europeans cannot buy these bitcoins. Bought ETF’s for bitcoin. That’s coming Middle east, same thing. 80%. Approximately 80% of all us investment firms, investment advisors, hedge funds, family offices.

[00:31:13]:
Again, the biggies, like Vanguard, 80% of us investment firm related groups. Right. Individuals and groups cannot yet buy these ETF’s. So the demand side is going to get crazy. So here’s the way. And if you’ve listened to us for long, you know, this is a very common theme. We recommended bitcoin in 2000, sold at 58,000. Okay.

From that 2050, 8000, my theme was. Our theme was very similar to what it is now. Ignore the prices every chance you get to dollar cost, average, buying higher or lower, just do it. You know, every month you have some extra money come in, or maybe you sell an asset, decide to reallocate your funds, put more money into bitcoin, and you’ll be very glad you did, because this can be a one way ticket to higher prices. I don’t know exactly when I think, I think, again, I’m on record as saying within 30 days of the having, I think bitcoin will be over 100,000. And if that does happen, my 2024 target goes from 100,000 to 250,000. Possible to the upside. But whether or not I’m right or wrong doesn’t matter.

[00:32:25]:
Just forget about timing. Just own it. I feel the same way about Tesla. Forget about the price. Welcome a lower price because you can buy more of it at a cheaper price and just keep buying. Because, again, there has never been a supply demand story on the planet Earth better than what bitcoin is. It’s that exciting. And scarcity value.

The structure of this, the financial engineering marvel of our times. I don’t think it can be overstated. It is that remarkable. And again, we’ve been fans for a long time, as you probably know. So that’s our approach. I will continue to recommend it. And we are looking to buy some bitcoin related calls. We use one of the bitcoin strategy ETF’s for that.

[00:33:09]:
All right, folks, I think that’s everything. Covered a lot of territory today. Again, you know what we’re thinking here. Again, we’re in the roaring 2020s. This is the innovation revolution. This is the closest thing to.com that we’ve had. I think this will be bigger because the companies behind this and the innovation taking place, from space exploration to autonomous driving, robo taxis, robotics, genetic research is, again, so many exciting things are happening. And I always leave because, of course, AI it was coming out of that.

I mean, this is a very exciting time to be alive and to be an investor. And that’s why these dips will continue to be buying opportunities. Let’s stay locked in, folks. This is that time. This is that bull market. This is that economy. All right, folks, have a great evening. Hope you had a great day.

We’ll see you back here again tomorrow after the close. Bye.

Podcast Newsletter

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Time Stamps

00:00 Interest rates rising, reminiscent of dot-com era.
03:33 Potential regional conflict, but market setup strong.
09:27 Ed Yardeni also looking for a roaring 2020s
11:51 Dollar weakening, government debt illusion, inflation concern.
13:10 US economy is strong despite outliers.
16:20 Examining three favorable investment opportunities, particularly gold.
22:05 Market pullback presents buying opportunity for investors.
23:23 Buying investments at cheaper prices is wise.
27:21 Bull market, silver, copper up, oil topping.
31:37 Bitcoin price prediction: 100,000 within 30 days.
33:09 2020s innovation revolution, exciting developments ahead.

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