Welcome to another episode of the VRA Investing Podcast! In today’s show, Kip Herriage shares a special pre-Thanksgiving episode, packed with reflections on family traditions, investing wisdom, and a bullish outlook for the markets as we head into the holiday season and the new year. From his family’s pumpkin pie rituals to why he’s more optimistic than ever about the innovation revolution driving markets, Kip Herriage covers the latest market moves, signals to watch (like Bitcoin and semiconductors), and why seasonality and recent indicators suggest a strong close to the year. He digs into the importance of investing in what you know, drawing inspiration from Peter Lynch, and highlights how long-term strategies and understanding market psychology can set you up for lasting wealth. You'll also get insight into sectors he's watching closely, from tech to gold miners and housing stocks, plus thoughts on possible changes at the Federal Reserve and what it could mean for rates and the housing market.

Don’t look back because the market is closed. Good Wednesday afternoon everyone. Kip Herriage here with the daily VR investing podcast. Hope you had a good day. As a reminder, tomorrow is Thanksgiving. I know a lot of you are on the road already for that. I hope you just drive safe, take your time getting there, enjoy your family. You know, we practice not talking politics and religion.

Kip Herriage [00:00:23]:
By and large, I think that’s a fairly safe journey for most families to go down. You know, there’s always going to be one or two people in the crew in any group that just want to have a different kind of conversation. So that’s, that’s, that’s what works for our family. But seriously, we’ve got a big group coming in. We meet it at my in laws, my, my, my, my wife’s mother’s house every year and everybody comes there, contributes and makes her. Cindy makes this the best dressing ever. It’s her father’s who passed away a couple of three years ago and it’s just phenomenal. And then someone brings a turkey and a ham and we, we, Tyler and Sam and I make the pumpkin pies.

That’s kind of our tradition. No one ever eats those. So we come home with two pumpkin pies that we didn’t get to gorge ourselves on for the next few days. So I have been running every morning. The weather’s been great by the way. Working out every day, running and lifting weights. I’ve been watching what I eat because I fully intend to eat a lot of food over the next few days. I think you should all join me in that conquest so that I don’t feel guilty by myself.

But anyway, again, have safe travels everybody. Hope you have a great weekend. Markets are closed tomorrow, of course. Friday will be a half day of trading. And look, this has been a very good market. Does four straight days up now. We had last week pretty much. In hindsight it’s easy to say this.

[00:01:45]:
Although I will say we called it at the time that we had all of the really all of the indicators you look for at a significant market bottom fear in green decks hit four. It just barely ever goes lower. Anytime fear in green x gets below 10, get your shopping list ready. Get it may not be the low, but you are within days of a low taking place. And once you get five or below, just buy. I mean I think a lot of people and look, I’m including myself in this. When you get to a bottom like that, you know, and again five on fear and greed or you see something like again some of the things you Pointed out like they had the second highest put purchasing ratio that we’d ever had. You see things like that, you’re like, you know what, I just gotta buy, you know, what are my favorite things that I want to own more of and just buy those instead of trying to pick the exact bottom, you know, for us, we didn’t get our wish, did we? We wanted to buy what we were looking for, a capitulation Monday, which is where I’ve gotten the best buys of my career.

Didn’t get that market up, opened up on Monday. We were forced to go ahead and buy a semi. We bought a leveraged semiconductor ETF at the open on Monday. But you don’t always get what you want. But it doesn’t matter. This, this, this bottom, like our call is, the lows are in place. As Tyler said his excellent podcast yesterday, where you explained what’s going on in the, in the land of big tech, specifically with Nvidia, all the questions about, you know, are they going to maintain their, their title as both the world’s largest company and the, the leading chip company. I think Tyler did a pretty good job of dispelling any fears around that.

But we saw everything you really want to see. Sinemet was in the toilet seasonality on Friday, as we told you last week, Friday. So seasonality flipped to positive Seasonality has not been great all year, but when it’s been, when it’s worked, it has been rock solid. And I think that’s what people are looking at going, you know what? Friday was the first day Thursday we had a fear and greed 4 all the people buying puts. Friday was a big recovery day and that was the first day of positive seasonality. It runs through December 7th and now we don’t get bearish at December 7th. It’s just there’s a bit of a lull again, just seasonally only. And then we march higher into year end and to and into January.

[00:04:09]:
And again, remember January, February, March, April. We’re in the six best months of the year. November, December through April are the six best months of the year. And our forecast remains that, as Tyler said yesterday, it was also with Wayne Root last night and Wayne show War Zone, which I thought was another good interview. Tyler’s been making this case over and over again that this is the roaring 2020s meets the innovation revolution. And there’s just something very special happening here. That’s been our view for some time. Why would we change it now? And so I think that anytime you get a correction, like we just had Again, we may have only seen NASDAQ drop 8%, but the average stock was down more than 30%.

Kip Herriage [00:04:51]:
We all felt it, right, look, because we like, we want, if a bull market is taking place, we want to own momentum stocks, we want to own tech stocks. That’s where the gains take place. Those are the most fun bull markets and that’s the bull market we’re in. That’s, that’s what these whole innovation theme is about, right? And so when you get those short term peaks and you get the sell off, you know, you feel it in those more than anywhere. And I think what’s important about that is that’s normal, it’s healthy, you want it, you need that to happen. I don’t know about you, I don’t try to time these things because invariably I wind up selling at the wrong point and then having to buy back at the wrong point. Instead of buy low, sell high, it becomes buy high and sell low. And so we’re long term investors, you know, we’re short term traders when it comes to not truly short term like day trading, but we are leveraged ETF strategy is shorter term, anywhere from like one to three months.

You know, generally speaking, some we hold longer, some shorter. But with our growth stocks and our 10 baggers, you know, stocks that have the opportunity to go up more than 1000%, we want to be long term investors in these. This is the Peter lynch school of investing. If you’re looking for a great book to read, Sam is reading it right now. I know actually, you know what, Tyler and Sam, they do audiobooks, like when they’re working out, they listen to these investing books and economics books on audio. And I can’t do that. I’m working out. I got to have music, right? And it’s always the classics I got to have, not Beethoven.

It’s got to be the 70s and 80s rock classics. That’s what I work out to. But they’re listening right now. They’re listening to Peter lynch one up on Wall street, which is, I think, one of the books that every investor should read. And it really fits our style. You know, Again, I never met Peter lynch, but I got to know his investing style really well because it was very similar to what both Ted Parsons and Michael Metz, my mentors. It was their style. Invest in what you know, if you can’t.

And this, this was a great lesson that I learned a long ago. If you, if you don’t understand an investment, in no way, shape or form should you buy that investment. If you Read through a prospectus and you go, this is like a foreign language. Then just move on, throw it away and move on. Because that’s basically your, your inner being. Say, say telling you this may not be for you, you know, everybody may love it. And it’s the hottest thing since sliced bread. Like quantum computing stocks, which I have no clue how to value these, right? Frankly, I have no clue how to value these chip companies.

That’s why we own Nvidia, that’s why we own a three time leverage semi etf because we have exposure to exactly what we want to have exposure to. And another lesson that I learned was don’t you hold your winners? The dot com lesson I learned the, that I, that worked best for me and I think pretty much for everybody was hold your winners, buy winners, hold winners. If you have stocks that aren’t performing, take a close look at those because if your stocks aren’t performing in a big bull market, what are they going to do when the market turns that they’re telling you something? And so that’s, that’s really, you know, when we start looking at something. All right, should, do we have an, do we have a mistake on our hands? Should, should we take action? And we really like how the VRA portfolio is positioned. Right now we have a couple positions that aren’t doing what we think they should do. One, nuclear stock, new skill Power that, you know, we’ve looked into it. All nuclear stocks are down. I think this group is going to have a fantastic 2026.

[00:08:23]:
Same thing with housing. We added to our housing leverage ETF housing position this morning. And we love how, I think, I think nuclear, just based on where they are now. I think nuclear and housing stocks are going to have an exceptional 2026 for all the reasons that we think that they should. I wrote this up this morning that, you know, it’s, look at what’s happening right now in this country. You know, I know that a lot of people aren’t happy with Trump right now. Wayne Allyn Root, by the way, just put out a great piece about this. We basically said give the guy a chance to be in office 9, 10 months.

Kip Herriage [00:08:58]:
Give the guy a chance. You know, you’re never going to love everything about a president or any politician, but look at economically what he has accomplished and choose to be a glass half full empty with this guy. And I think that’s great advice, especially again when it applies to the economy and to the markets because next year again Our target is 30% minimum 30% gains, SPF 150% in NASDAQ. I think it’s going to be one of the barn burning years that you can look back and go, yeah, that was 2026 was a special year. And Tyler’s right. Look, history does repeat. We are in the roaring 2020s. Go back and look how the markets did in the 2019 20s again up until 1929.

I just don’t think at this point that we have to worry, because that’s the question, everybody. Okay, Kip. Well, you know, enjoy the 2020. Look what’s, look what’s going to happen in this decade. Enjoy. Not enjoy 2029. You know, it’s like, don’t you understand? It’s 2025. We have four years to that.

That’s a lifetime in the investing world. But I just don’t. We don’t think that we’re going to have any kind of a, an important bubble top or anything in four years. Maybe 2039. I mean, not sound like a Pollyanna, but I’ve done this a long time. This is the most bullish that I’ve been. This is. I’ve been saying this for three years.

Everything is lined up. And now we have the right president at the right time again for the economy, for the markets. And I think the media. I don’t think. I know the media has been lying to us about everything, financial media included. There is a clear psyop of negativity that’s been in place for a long time. That stuff used to work on me. It stopped working after 9 11.

[00:10:42]:
You know, 911 was what? 911 changed my life. Because it was the first time I was like, how can. How can. Why doesn’t everybody see what I’m seeing? Have I gone crazy? Have I lost my mind? Because the official story, you can’t. It’s impossible to believe it. But for the longest time, the majority did believe it. And I was like, something has changed. What are they putting in the water or in the air? Because really smart people aren’t asking the right questions.

That woke me up. And again, since then, I have not been hoodwinked on any of these things. And so I think that it’s a process for a lot of people. I get that. But I got to tell you, I’m still dumbfounded to this day by the quote, unquote, really smart people that don’t see obvious things that seem so obvious to me, and I know to you. Look, I, I know I’m preaching to the choir. We got a very, very smart group. We so appreciate you listening and your feedback, it means, it means a lot to us.

And look, it’s okay. Give us feedback. You know, if you have a problem with something we’re saying, we want to hear that too. Just remember that, you know, we put our heart and soul in this. We really do. We had a staff meeting today, a zoom meeting today, and we just went over some of the emails we’ve been getting, you know, and again, these are the fact you took your time to send us these emails about how the returns that we’ve had in the last three years, well, actually quite a bit longer. And a lot of folks have been with us a long time and have done well, but just the, the changes that, that are taking place in your life because of the amount of wealth you’ve been able to build. Not we’re not taking credit for that, but we like to think we played at least some small role in, in, in your investing success.

[00:12:26]:
And that’s why we do what we do is that’s not a throwaway line. That is what I, I, I. What we recommend is what we own. So it’s pretty selfish folks, if we’re telling you that we’re recommending something as a tin bagger or pound on the table on it, that’s because that’s how we’re set up. That’s what we own. And I think if every, if every financial publisher had that policy, that’s our policy, I think they’d all do better. They’d be more vested in what they’re recommending. Bizarrely, a lot of our competition will tell you we have a policy against the publishers or the people that write these articles.

A lot of it’s AI generated. Now of course, most of these companies don’t have anybody behind it. There’s, it’s again, this is, I think, a scam. But when they say we have a policy that we don’t allow people that work for us in our financial publishing, you know, giant, like, you know, I won’t mention names, but I’m sure you know them, but we have a policy against them owning the securities, the stocks that they’re, that they’re recommending. Like, then why would I want to own it? Why would I want to buy that? If you, if your own people don’t, they, they’re not, they’re not, they’re not vested, they’re not with me. Right. And so we take it very seriously. Also, like a lot of you, I’m super competitive.

I don’t like losing and I certainly don’t like losing to Mr. Market. Mr. Market is a son of a bitch that wants to crush all of us. That’s his primary goal is to get the majority on one side of an investment or one side of the market and then pull that rug and just crush you. And so I know a lot of people thought that’s what was happening in the last before the market bottom on Thursday, Friday, that we were going through a rug pull and things are really going to get bad. The Michael Burry’s of the world. Christian Bell, Michael Burry, whatever you want to call him that came out calling his 20th market crash of the last three.

I mean this guy sees a monster under every bed. And the good thing about people like Michael Burry and again, you can’t take away success that he’s had. The guy’s a huge success, but he’s also missed a lot. I like the fact that now because of social media there’s accountability to that, you know and you can tell he’s been very defensive about, about these calls that he made that clearly because he did it with puts. He wasn’t short Nvidia and Palantir by shorting the stocks he bought. Puts and those lose if you’ve traded options before, you know what I’m talking about. He’s on these positions for several months. They just, he just filed as the 13F, what was a month ago or something.

But he’d had these positions in place for some time. You know, in the face of a rip roaring bull market, the, the premiums dissipate really quickly in these put options. Unless you, you have to nail the timing in options. If you’re late you are wrong and if you’re wrong in options, you’re going to get crushed. They just suck the premiums out. I know most of you know what we’re talking about by the way. A lot of you are also with us of course in parabolic options. We’re off to a very good.

I think we’re what ended our, I think we’re in like halfway through the program right now and we’ve got really good gains. We got two positions in place now that we’re up. Both were up nice today, yesterday and that’s in the gold miners and the QS NASDAQ 100 calls. So you know, if I’m off topic here, but if options are something you have an interest in, we’re in our 23rd program. No, I can’t believe that either. Every program lasts four months. We’re on a 23rd program. I think the next one will open up early, I think January, I think early January.

[00:15:56]:
So just, just keep it in mind. We’ll make the announcement if you want to join us. Where we have a very simple approach using the VRE investing system. It’s no different than what we use for our market timing positions with ETFs in the VRA portfolio. We use that same methodology and buying calls and puts and with, with discipline you have to have stops, that kind of thing. But again, I think, I think we’ve nailed this call. I think that this is a melt up bull market. It was only abbreviated by the three week.

Kip Herriage [00:16:29]:
What happened after the government reopened? You know, we had the wall order move higher and then we had the liquidity. That was the big thing. The markets move based on one thing, primarily one thing and one thing only. And that is liquidity. It supply and demand. And the shutdown caused that $1 trillion in the treasury general account to be frozen. And that may not sound like a big deal. It’s a big deal and we saw it first in Bitcoin.

What a tell. Look, again we give away all our secrets here. There are, there are two investments, only two, only two that you need to watch for market timing and that is Bitcoin and the semis. And I think in that order. I would, I would, I would used to never said that before. I’d always say semis first, bitcoin second. I think it’s reversed now. I think, I think bitcoin is number one.

If you see a move lower beginning in bitcoin and it’s got weight behind it, right, it’s got leaning on it, it’s heavy, right. You got to start asking, okay, what’s going on in the broader market? Are we seeing any kind of disruption elsewhere? And if, because if bitcoin has an extended move lower, there’s something else going liquidity wise. There’s something going on here that is most likely going to affect the broad market. If it happens with the semis at the same time, we have a problem. Houston, Houston, we have a problem. But again the difference here is that we saw this as a, a short term counter trend move lower. These are things, you just got to grin and bear it, man. You just got to okay, this is going to suck and it’ll bottom at some point.

[00:18:02]:
And then you know what, we’ll look to add to our positions at that point when we see all the signs of a bottom. But again I, we just thought that’s, we’re not trade, we’re not traders like that. We oh, we see, oh, Bitcoin and semis are going lower. We’re going to go and sell our positions and go to cash and then look for a bottom in the next two, three weeks. That’s just not. And I think, I think that’s, I think most of us, right, that’s how most of us feel with our serious money. We don’t want to turn into day traders. We want to buy positions, be able to sleep at night and be able to own these and not have to worry about, I want to be out of town for three days.

 

What’s going to happen in my portfolio? Should I buy insurance? Should I hedge? What do I do? You know, that’s the, I, I, I don’t, I’m way past that point in my career. Why won’t have to worry about that. So we buy good companies, we know these management teams and in many cases we don’t personally have an open door. We call them anytime and they answer the phone. Not, not with the invities of the world, et cetera. But you know, our 10 baggers, otherwise, you know, we do. And so that again, that just helps us all sleep better at night and know that hey, investments don’t always go up. We’re going to go through periods where things are just rocky and that’s just the way it is.

But then, but because we believe we’re big believers in monthly dollar cost averaging in our 10 baggers, our top ranked growth stocks that we’re going to own for years unless something changes again, the Peter lynch, you know, Peter lynch always said that he made almost no money on. Peter lynch averaged 28% a year as a mutual fund money manager. No one’s ever a mutual fund manager. No one’s ever, no one’s done better. He managed the Fidelity Magellan Fund at the time the largest fund on the planet. And he was, I think it’s like 20, I think 20 something years he worked for Fidelity and his, his, he would say openly, you know what, I’m terrible at short term timing. I invest in things that I know and when we build to start building a position, we do that, we build a position, we like to use monthly dollar cost averaging. And then we typically don’t make any money on these investments for 2, 3 years.

He goes, but it’s years, 3, 4, 5 that we start getting paid. And then after that it’s all gravy. And that’s, that’s really, I don’t want to not make money in the first three years of investment. We think we’re better than that. Actually, I think we’ve proven we’re better than that. But it’s true with some investments and we have, we have a couple of those now. They’re just flatlining, but we’re staying with them because they’re building, they’re building a company. They’re doing what it takes.

They’re putting in the heavy lifting and we’re all going to be paid on the back end of this. And so if that again, if something changes, then we’ll, we’ll let you know. Right. But we’re very optimistic here. By the way, I saw today, I don’t have the details on this, but we may be getting a Zweig breadth thrust, Marty Zweig, that’s named after him. I’m not going to go through the particulars of this. Bottom line is when you get a Zweig breadth thrust that has short, medium and long term ramifications and they’re all very good. We may have gotten one today.

There are a couple people, I don’t, I don’t do the, the mathematics of that myself, but people like Tom McClellan of the McClellan Oscillator. His actually it’s named out his dad again, Father son team. Why wouldn’t I love that? Right? And, and others that follow this very closely. We may have gotten one today. If that’s the case, then I think even the biggest of bears, Michael Burry, Peter Schiff, I mean you’re gonna have to look that and go, all right, well I, I got a cover or I gotta, I gotta, I gotta sell some, I gotta get them on some shorts. I gotta do something because I’m about to get crushed to the upside. And again, seasonality is fantastic here. We’ve, we’ve had, we believe the last, we just had the last reset we’re gonna have for a long time because next year is going to be rock and roll time.

With the Trump economic miracle kicking in again, the one big beautiful bill, a lot of it is going to start finally kicking into the economy next year. We’re already at 4.2% according to the third quarter for the Atlanta Fed. Although I did see today they just adjusted it down to 3.9% again. Who cares? Right? The bottom line, around 4% is already happening before a lot of his policies have been kicked in. And then the news I just talked about it looks like, and we heard this starting last night from multiple sources in the mainstream media, which, you know, if it’s just one, like it was just the Wall Street Journal, I won’t even tell you about it, but we have multiple connected sources that are, that are speaking as if they have a source on this that Kevin Hassett, this is a close, close friend of the President’s. And Kevin Haas is going to be the new Federal Reserve chairman. Wouldn’t it be something if Jay Powell just said goodbye? Now, Jay Powell is the worst Fed chair of our time. He’s certainly the most political Fed chair of our time.

[00:22:49]:
I’ve said this, I’m lucky my home hadn’t been raided, all my bank accounts closed. Frankly, I’ve been saying this for a long time, publicly and on television, and my wife hates it. Just absolutely hates it. She often tells me before I go in to be in studio, she goes, don’t even mention J£. If you do, please don’t say he’s the worst Ted Cheer of all time. Just don’t do it. And of course, then when she puts it in my head, then I have to say it. It just comes out.

Kip Herriage [00:23:12]:
I have that problem. But wouldn’t it be great if he just stepped down? What a great Christmas present after what he did to us at the Christmas season in 2018, the fourth quarter and the Christmas from hell. Worse than the Great Depression. There is no period on record that did worse than the fourth quarter of 2018 because of that guy. And of course we know what happened with the ramp to 41 year highs in inflation. At first the Feds, Jay Powell’s Fed said there is no inflation, Adam. They’re adamant about it. We’re like, you don’t print $7 trillion that was combined government and Federal Reserve.

You don’t, you don’t insert $7 trillion into the economy and not have inflation. By the way, Trump did his part in that too, right? There was just no way. And he was very adamant, no inflation. And then the very next month at their meeting, like, you know what, we, we do, but, but, but it’s going to be transitory. And that’s, that’s the word that everybody heard him say. He goes, oh my God, did he just say that? And then like two months later, oh no, we were wrong. Yeah, inflation’s at 40 year highs. And so, but again, that’s Jay Powell.

Wouldn’t it be great if he just resigned? I, I, I, I, I’m putting that in the universe. I think we all should. Again, if you’re like me and you love, manifest your destiny. We actually talked about manifest your destiny on our zoom call today because I think it works. I don’t think, I know it works. You put it out in the universe and you’re not supposed to actually talk about it. So I’m not going to get it’s things that I do myself. But you put it in the universe, you, and if you really focus on it and that’s what you really desire to happen and you make it a constant focus of yours, you’ll start to see really good things happen.

[00:24:48]:
And we do that here with our, with our views on the markets, with our, the investments we make and the fact that we’re doing it because we want to see everybody prosper. You know, this is that bull market. I really believe it and I think this is, I think everything I’ve done in my career has led me to this point. For our new listeners here, if you think I’m crazy, look, I worked through 95 to 2000. The bull market helped take three companies public. My friend ran the syndicate desk. I was in literally hundreds of IPOs. We did very well in that five years, best five years I had in the business by far.

And then I retired just six months before the market topped, got my clients out of the market. Michael Metz reminded me that bubbles do pop and, and, and had me, had me read a number of really good books to, they got me focused on anyway. But I think that all that happened to me for a reason. I think it’s taking me to this point. We wrote the Big Bribe where we, we said three years ago that this was going to be a generational bull market with the innovation revolution and now we got the right president in place. It’s just everything is all the stars literally are aligned, planets are aligned. And that’s why these dips I think will continue to be short lived. And as I said last Thursday, within two weeks no one’s going to remember what just happened.

[00:26:11]:
And look at this. These four straight days we’ve had up, there’s really nobody talking about what happened even last week. That’s like a distant memory. That’s how we all work, I guess, and how we block things out to deal with calamity. But it’s already a distant memory. I think it’s right that it should be. And I think that, you know, Friday’s half day trading. I’ll frankly be shocked if the market’s not up.

Kip Herriage [00:26:34]:
And then if we get the zwag breath thrust, you’ll have a lot of market timers, a lot of bears that will go, you know what? I, it’s seasonality, it’s December. I, I, I can’t take the pain of being Short this. I think you can have a lot of people capitulate. And I think we are set to have a barn burner of a December. And that’s how we’re positioned and that’s that, that’s what we see happening. Right. We’re not just saying it because we, we, we, we want to be right. Yeah, we want to be right.

But that’s what everything the Vera system says. We’re, we’re at 9 to 12 screens bullish. We never dropped below that. You know, we had been 10 to 12 screens bullish. And then we saw the, the, the leadership begin to suffer. And that was the semis and bitcoin again, the two leaders for market timing purposes. And then also of course we had the internals that started breaking down. The Hindenburg omen, we got a lot of those.

And that combination just, just, just dropped us back down to nine to 12. But now the semis are leading again. You know, their semis today, SMH is up 2.4% a big yesterday. And so now semis leading higher again. This is a textbook bull market day to day yesterday was as well. And bitcoin now back over 90,000. And so again, I think, I think probably by Monday we’ll be back at 10 out of 12 screens bullish. And that is back up to truck care territory.

Anything over seven, we’re long, okay, but anything we’re nine or above, it’s back up to truck time. And so I think that’s, you know, if you, if you haven’t got, if you sold something or if you haven’t really, if you’ve got some additional funds you really want to put in, you haven’t missed anything. You might have missed the exact bottom. But, but, but very few people catch those. You know, I think you want to be in this for the December. This directly ahead of us, Kevin Hatch is going to be fantastic again for housing and for small caps. Again they’ve been rocking and rolling also in the most bullish time frame for small caps. November, December, January are the best three months for small caps and they’ve been now leading.

That’s been rare. But again, rates of the 10 year today dropped below 4%, closed at 3.998%. That’s the first close before 4% in about three months. And look, with Kevin Hasson in place, if he in fact is going to be the Fed chair, you know, he’s like Trump. They’re both very big believers that rates should be normalized. That, and that means a lot of rate cuts are going to come we’ll have on December 10th. That’s, that’s like 85% or 90. I think I saw 90% probability now by the CME FedWatch tool.

[00:29:05]:
We’re getting a rate cut on December 10th. And then you know, if we get our wish and Jay Powell resigns and Mark, if Jay Powell were to go ahead and resign early because why wouldn’t he why if has it’s going to be the Fed chair. That’s who everyone’s going to talk to. No one’s going to care what Jay Powell says anymore. Right. He’s complete is you’ll have no power whatsoever. Kevin Hassett will be the effective Fed chair. Why would Powell need to stick around? So I’m putting the universe.

I think we all should because if, if, if the power, if Powell surprises the market and, and, and, and retires, you know quits before May when it’s, when his term is up. It’s going to be a phenomenal week in the markets. Just phenomenal week. And I’m assuming at that point I’ve not heard this by the way. Understand I don’t that’s not even a rumor as far as I know it. But if it is going to happen I wanted to be the first person to put it out there because I am manifesting that because it’s what should happen. And then you’re going to see mortgage rates. This is why we added to our housing position today because mortgage rates, you know back around 6% that’s it was 7.2 when Trump took office.

Six is not what he wanted. It’s what it’s the one thing the housing market needs. It’s the one thing because we get the stock market continuing to go up. Animal spirits are back. We know that American companies have never been healthier. Never, never in history had they been healthier. We know the consumer first America never been healthier and now if we get rates down so the second America can begin to participate. Look out above.

This is true melt upville. And so again Jay Powell go ahead, give us a Christmas present. Go ahead. Let’s get hasset in there. Let’s speed up this process. Let’s get 30 year mortgage rates down from 6%. Now they should be below 5%. They should today.

Today they should be below 5%. And so that’s we certainly see that happening next year. And again we, we said that this year that the, the gold miners would be the number one group to own. Well they’re up 100. I just ran the numbers 140% this year. The number one group. Right, we got that. We said, we told you that early January.

I, as I’ve been saying, I think now the top, one of the top, if not the top performing groups in 2026 will be housing stocks because they’re beaten up. Look at the charts. I mean they’re beaten up. The rest of the market might have been going up, but they haven’t. And so these are, it’s a great contrarian play but again, if the word gets out that Powell is going to resign or even that has is going to be the effective Fed chair, which he will be on the announcement, you’re going to see rates really keep plummeting here. And the biggest beneficiary will be housing stocks, will be small caps and will be tech stocks. Those are the three that are must own. If, if you’re confident that rates are going to continue to fall, those are the three that must be owned.

You must be over allocated in those groups. Right. And that’s essentially how, how that that is, that is how we’re positioned here at the vra. Internals were great today. What else today? All right, let’s go ahead and get into it, get you on your way for, for a great Thanksgiving weekend again. We’ll be back with you Friday. We’ll have a letter out Friday morning. It’s half day of trading.

We’ll probably do a podcast after the close as well. Maybe brief, but we’ll be there almost certainly at, by, by 1: o’, clock, 1:30 Eastern. We’ll have it out to you. All right, internals today, good. Not as good as yesterday, but again, yesterday was a blast off day. Still very good today. Uh, advanced decline. NYC and Nasdaq both ride at 2 to 1 positive up volume.

NYSE was 69.3% up volume. Nasdaq was 70.5%. Again good. Not quite as good as yesterday, but very close. And Today we had 300 more stocks hitting a 52 Kai than a 52 week low. So a good read there as well. Sector watch exactly like yesterday. Nine of 11 sectors finished high on the day.

Almost nothing to the downside to the upside. Utilities, There you go. Largest borrowers of money in the country. Utilities 4.3% always benefit from low rates. Tech stocks a 1.3%. Materials, we had four sectors up more than 1%. Today is a good day in our commodity watch today. Again pounding the table in this group folks.

And you know, you know the two mining stocks that we love. We’re going to be joined by the way I just found out unfortunately we were going to have on Tuesday night the CEO of Snowline go one of our two 10 baggers which we, we have gains like 190% today. Not today. 190 in total was up today another 3% all time high closing high and snow line against a back to back days. CEO Scott Bertol was going to be joining us Tuesday night. He just, he’s on a road trip in Europe and the Middle east. Is in the Middle east now and he’s Look, I just, I, I, I’m running a little ragged here. Can we push it back one week? So we are going to push that back for Scott.

[00:33:54]:
He’s anxious to say hi to everybody. Just, just an amazing, really, really smart guy. All right. This is one of the smartest guys I could promise you anyone here has ever been around. And I’m not saying this is a dumb group. I’d say it’s one of the smartest guys because he gets it. He gets it. He gets the industry, he gets the, the, the, the, he gets finance.

He gets it all because he details matter to this guy. And again father son, team, right? These are the kind of things you go okay, that’s different. Right? These are quality people. The reputation matters. Doing things right matters to them. This is the kind of management team you want to invest in. I promise you that. Okay.

And so he’ll be joining us not this Tuesday but the following Tuesday. And then the other of course is Vista Gold. We’ve got like 400 some percent gains in it now it was up 10% today because GDX up again today, 5% I think yesterday was up 6%. This group is really starting to get legs here. And why wouldn’t it? Again, rates going lower. Okay, that’s, that’s, that’s a buy signal for my, I didn’t mention that earlier. It’s a buy signal for precious metals and miners. And like these stocks are cheap.

[00:35:01]:
They’re just, especially the junior miners. They’re just really cheap. And you’re going to see a wave of M and A activity kick off in this group. It’s already starting. But you know the media didn’t talk about it but it is starting. Some very nice deals have been done this year with juniors. But next year as gold starts approaching 5,000 and that’s where we’re headed in 2026 and probably through that next year all these executives. By the way, these mining executives are not the sharpest knives in the drawer.

They’re just not, they’ve been beaten down so bad in the last decade, they’re afraid to even look at their shadow. And they just are afraid to take to make a big bold move. But folks, now with gold, you know, comfortably over 4,000, having base falling before it and now basing at 4,000 closings today at 4,196, it traded over 4,200 quite a bit today. Up 31 today, up 3/4 of a percent. Gold start to get to $5,000 an ounce. You’re going to see a wave of M and A activity. And these junior miners are just starting to go. Just trust me on this one.

I know this group really well. And you can invest in this group confidently. Okay? Especially in the two that, that we like here. Silver today up 4%. You know, I’ve been telling you, I love silver, I love gold. But silver is ready for a big move. Up 4%. 3.9% today.

Just over $53 an ounce. I think it’s going to 100. I think it’s going to happen next year probably in the first half of next year. We prefer gold miners. Silver miners are just, they’re a little boring. It’s industrial metal too. You don’t get the pure play move. It just don’t.

[00:36:46]:
You don’t get the moves that you get. It doesn’t mean you can’t find huge winners. But they don’t have the volume, they don’t have the market cap. The safer play is the gold miners and that’s where the leverage is. But again, there’ll be some silver stocks that explode higher. Trust me on this. But it’s just not really a group that we focus on. Copper today up 1.8%.

Everything’s getting reinflated, isn’t it? Right. The liquidity crisis sucked it out and now here comes liquidity back in. Right. Animal spirits returning. People getting more and more optimistic, as they should. Copper now $5.20 a pound. Crude oil up 3/4% today at 5856. And again, Bitcoin back over 90,000.

Last trade here, 90,473. Look, it had extreme oversold on steroids. We told you that in our letter earlier this week. It just couldn’t go any lower. And also, Jim Cramer turned bearish. I mean, there it is, Jim Cramer, wrong way Runway. Turn bearish on bitcoin at the very lows. And so that always helps.

It is remarkable how often this guy gets these calls. It is just. You almost think he’s doing on purpose. I, I really think there’s a part of me that thinks he must be doing this on purpose because no one can be that wrong that often, that consistently. All right, folks, have a great Thanksgiving. Again, be safe. Take your time getting where you’re going. Have enjoy your family.

Here’s what I’m practicing. I’m focused in my life on three things every day. Practicing unconditional love, living in the moment, and trying to work on my ego, right? Keeping ego out of my life. Because with ego comes anxiety and comes anger and comes fear. That’s all from the ego. That’s what I’m working on in my life. I think it’s a great lesson for all of us to practice over Thanksgiving in case you’re with some family members that maybe aren’t your favorite, most favorite people. All right, again, have a great weekend.

[00:38:37]:
We’ll see you back here Friday, folks. All right. Happy Thanksgiving. We’ll see you back here again first thing Friday morning and again after the close for our Veer Investing podcast. Bye. Bye.