Join Tyler and Kip Herriage for a special VRA Videocast as they discuss the latest financial shakeups. In this episode, they'll explore what these changes means for the markets and the economy, alongside a broader discussion abou ...
Tyler Herriage [00:00:00]:
Good Thursday afternoon, everyone got Tyler and Kip Herriage here today for a special VRA investing podcast. On this Thursday afternoon, Kip and I were having our usual end of day podcast meetings. We got going on the topic of Gary Gensler leaving the SEC and what that means not only for our markets, but for the economy as a whole and getting back to a laissez faire environment here in America. And we were just both very excited about talking about this. So we figured we’d do a special joint VRA investing podcast over zoom today, do a video for y’all as well. So welcome to the podcast today.
We haven’t done this in a while.
Kip Herriage [00:00:51]:
I know. And I don’t know why we don’t do it all. We do this all the time, you know, through the day. We just don’t record it. You know, I don’t even like going on and doing TV interviews. If you know me, as much as I was on stage or anything for wmi, I guess I got used to it. But that’s really not who I am anyway. It’s just not my personality.
Kip Herriage [00:01:09]:
So every time I go on tv, be it on Wayne or Charles Payne show, and I’ll be on Charles Payne show again next Tuesday. Matter of fact, we’re going to talk about this topic today is going to be my topic with Charles next Tuesday or Wednesday. I think it’s Wednesday. But yeah, this is not my preferred way to communicate. I’d much rather do a verbal podcast. I don’t really care to be in front of a camera. That’s just how I’m built. But that’s what that’s me.
Kip Herriage [00:01:36]:
You would have loved to do this the whole time. So I’ll make a commitment to do this more. Okay.
Tyler Herriage [00:01:41]:
Yeah, we’ll have some fun with it, too. I think there’s a lot of fun topics to go over here from today’s action, from the action we’ve seen since Trump was elected. Right. Just so many different areas. You know, we’ve seen the excitement from crypto into our major indexes and then on the economic side of things between cabinet picks and I mean, there’s just so much to go over here. And then also to the downside as well, that we have still a wall of worry for our market to climb here. There’s so many worries out there. We were just talking about this before on our call as well.
Tyler Herriage [00:02:16]:
Sentiment, you know, has not. We’re not at extreme green levels. We’re not at the rational exuberance phase at all. Despite the fact that bitcoin zeroing 100k, our major indexes are right at all time highs. So it’s not all, you know, rainbows out there right now. There certainly is a wall of worry between what’s happening in Russia and I think that’s probably the headline story right now. I mean, of the fears, wouldn’t you say?
Kip Herriage [00:02:43]:
That’s the headline story for the dumb money. The headline story for the smart money are the things we’re talking about here. The fact that this country is, this is a major trend developing here. And people I think are just starting to become aware of this. Look, we won. We’re still in shock that Trump won. Still can’t believe it, right? There’s still a part of me that was even like, okay, which we see his cabinet picks, let’s make sure he doesn’t revert back to old Trump. And those cabinet pictures coming in now and you’re seeing the guy’s got a spine.
Kip Herriage [00:03:14]:
And I think he’s got a game plan with Matt Gates, you know, who resigned today from consideration. I think this is all by design. Let them take out one of my guys that I love. I send the right message to the base, but the whole time this is the guy I really want. And they’re not going to say no to two. So I think this is Trump, true Trump 5D strategy here, okay? And we’re seeing a lot more of that from him now. This is the guy we elected in 2016. This, we’re seeing that guy now.
Kip Herriage [00:03:43]:
The shit that he talked on the campaign trail is the guy he now is. And so for me, this is all just hitting me, as you can tell. But as you know, look, we’ve been more bullish than anybody for two years. Over two years, okay? We’ve been the bulls, but we’re not on Wall Street. So again, I got, we have some kind of a presence, you know, with, with the shows we’re on and stuff and the radio interviews you’ve done so far, Tyler, which you’ve got to do more of, by the way, that’s next for you. But we’ve been very locked into this whole thing and we’ve been right. And I’m telling you, people aren’t bullish enough. This is just hitting me, right? This really hit us during our conversation today, Tyler, you brought up Gary Gensler.
Kip Herriage [00:04:23]:
Okay, and what. Tell people what happened with this, with this today, right?
Tyler Herriage [00:04:32]:
Well, it’s, it’s interesting because he wasn’t kicked out or anything yet. He saw the wave coming, right? Really kind of the red wave coming at him here and the obstacles that he was going to have to face and really the kind of, not retribution, I guess. But think about all, all of what he stood in the way of over the last few years. Right? He has truly stood in the way of progress in the financial sector as a whole. Not just crypto. Right. We’re talking mergers and acquisitions that they’ve blocked as well, regulate needless regulations. It’s interesting on a day like today, we got Gary Gensler stepping down.
Tyler Herriage [00:05:09]:
Obviously the financials just hit an all time high today, so they’re taking it well. But then you have Trump talking about reinstating the Glass Seagull act, meaning banks can make less risky bets. You think that would hurt the financials on a day like today? But no, there’s so much excitement about getting Gary Gensler out of the way, it doesn’t even matter. And back to the point from the beginning of the podcast is getting back to a laissez faire environment, you know, not just for the financials, but for the financial sector as a whole, meaning stocks, bonds, everywhere and for small business owners as well. We, another thing we were talking about on the call is kind of, you know, in this new environment where in the Trump administration is going to be, hey, you go do what you do best. You’re out there taking risks, right? Here you go, take the handcuffs off.
Kip Herriage [00:06:06]:
You started that company and they told you you couldn’t run it in a certain way or you couldn’t run it at all. Guess what? We’re showing you those days are over. This is the conversation you and I are having today when it both hit us like a ton of bricks that almost no one’s talking about this most important macro concept. And folks, if you know me, I love getting the macro right. The macros. That’s, that’s the, that’s, that’s it. If you figure out what’s actually happening, what the real macro story is, all the pieces fall in place for you when it comes to investments. Took me a long time to realize this.
Kip Herriage [00:06:40]:
With me, it started with 9 11. 911 taught me how to think in a different way. I had to think backwards. How would the really bad guys do this? They taught me to think in a way nothing else would have. So for that I’m thankful for 9 11. Right? Because it made me the per. It made me think the way I do. And I’m not, believe me, I’m not saying I’m super smart, super smart guy.
Kip Herriage [00:07:01]:
I just pay attention to Things, you know, patterns interest me and relationships and these kind of conspiracy theories, if you will, interest me. And I think it does a lot of us. It’s just that it takes a long time to figure out how to, how to do this, how to get these calls right. And that’s something you just can’t as a young person. You just have to grow into it, you know. So I think there’s, I think this is a smart money conversation is what we’re having right now. And I think this is a major trends developing. The shackles are off.
Kip Herriage [00:07:32]:
As Tyler said, we’re going to see businesses start to explode as businessmen figure this out and women with the amount of money that we have right now. This is the thing Tyler and I’ve been talking to you guys about for two years. The, the, the, the mountain of money that is all around us. That everyone has money, but everyone’s depressed. Oh my God, I’m doing so bad. What are you smoking? You’ve never done better. You know, your, your, your credit scores are all time highs. You all your net worth is at all time high after all time high.
Kip Herriage [00:08:05]:
Home prices all time high. We talk about this stuff all the time, right? And now as Tyler said, the laissez faire attitudes coming back, business owners are going to start realizing, yeah, I built this, I took the risk to do this and now I, we came up with a couple quotes. I’m going to say mine and then we’ll come back to you for yours. Okay?
Tyler Herriage [00:08:30]:
All right.
Kip Herriage [00:08:31]:
Remember the old fear? It was a joke. We’re from the government, we’re here to help. That’s, that’s, that’s like just a gut punch, you know, because we know they’re not, they should be, we’re paying them, but we’re not, they’re not here to help us. They’re going to hurt us. Here’s the new line. We’re from the government and we’re getting the fuck out of your way. That’s the new line. And if you understand that, I think, I think that this is a major trend that’s developing, is tied into the red pilling of America.
Kip Herriage [00:09:02]:
This all ties, see, it all comes together, right? And this is a, this is a major trend that people aren’t talking about enough. But I think they’re gonna be, I think they’re gonna be.
Tyler Herriage [00:09:15]:
And I think we got a prime example of it today with Gary Gensler. Not to go back to that topic. Yeah, but he just got out of the way. No one forced him out. He said, you know, January 20th, I’m out of here.
Kip Herriage [00:09:26]:
The day he walks in, I’m gone.
Tyler Herriage [00:09:29]:
Yeah, that’s.
Kip Herriage [00:09:30]:
That’s an alpha and a beta. Yeah, it’s an alpha beta.
Tyler Herriage [00:09:35]:
So, I mean, that was kind of my quote from earlier that I said kind of tongue in cheek. You know, we’re getting out of the revenge of the nerd phase. That’s over now. That’s what we’ve seen for the last four years. Now the alphas are back in charge. And that is, you know, we made that point as well. That’s men and women. You know, we’ve got it on both sides here.
Tyler Herriage [00:09:54]:
And Mark Cuban, for saying what he said, know that Trump doesn’t surround himself with strong women. Look at his appointments so far.
Kip Herriage [00:10:02]:
I mean, how did this guy get money? How did this guy. Seriously, how did he get money?
Tyler Herriage [00:10:07]:
He said himself that he was the luckiest guy. He. That was a quote from like 2005 that he said that he got really lucky. And I think he’s proving to be pretty true at this point.
Kip Herriage [00:10:17]:
Or. Or he was just doing what he was told. That’s probably more likely because he started to look like Rachel Maddow, too. He looked like an idiot. And you know, Mark, Mark Cuban, he’s always been a ladies man. He’s super, super fly, super cool. He’s not looking like that anymore. So I think they told him what to do.
Kip Herriage [00:10:33]:
Probably because he was friends of P. Diddy or maybe he was on Epstein island, whatever. I think that probably he used to be a wild, a wild guy. So I bet you he’s got some of those stories. And now he’s probably been told, you better do this or all this leaks on you. Yeah, I just can’t imagine to be. Anyway, getting off topic here. But listen, that’s.
Kip Herriage [00:10:53]:
That’s all I. We had a good day today. Market’s in great shape. The semi has made the turn today. That was important. Nvidia was down and then the Soxel was positive. You go, kid. That’s a pattern change.
Kip Herriage [00:11:06]:
You know, getting to such an oversold level. They’re great buys here. What. Anything else you saw today that stood out to you?
Tyler Herriage [00:11:14]:
Well, going back to kind of the small business side, and we’re still talking about stocks here, but small caps led the way, Tom. Right. And we’ve seen some small cap outperformance as of late, which is really good to see and more evidence of the environment that we’re talking about getting back to here. Right. For example, Russ, 2000 of 1.65% leading the way today to 2364. And the Dow as well has been performing well. Interesting to see it lead. You know, of course we want Tech to lead, but overall, the semis really did lead on the day, even after Nvidia did finish higher on the day, but earlier in the session was down as much as what, 2%.
Tyler Herriage [00:11:56]:
And managing to get the rest of the semis positive here, I think, is very bullish. And we do want the semis to start outperforming here.
Kip Herriage [00:12:03]:
Yeah, it’s time. It’s the. It’s time for them to do that in this phase of the bull market in the best months of the year. I mean, this is exactly when they should start going. We’ll be shocked, you know, if that doesn’t happen. That’s why we say back up the truck now. And we don’t tend to make that call unless it’s something we really believe in. But, you know, there’s always a chance we’re wrong.
Kip Herriage [00:12:25]:
But this, we’re pretty confident about this call in the semis here. I think. I think it’s this along with Tesla and Bitcoin. I mean, I think that’s where you focus, right? That’s where I want to focus right now.
Tyler Herriage [00:12:37]:
Yeah, completely. So just a few other quotes here to close it out on our major indexes. The S P 500 also up half a percent on the day to 5,948. Nasdaq just barely managing to get back to positive territory here. Up just.03% on the day, but was positive.
Kip Herriage [00:12:56]:
Are we actually going to turn this into a full. A full podcast?
Tyler Herriage [00:13:00]:
Yeah, you know, just quick quotes here because I do want to get to the internal.
Kip Herriage [00:13:03]:
So I didn’t know there. I didn’t know there’d be math at this part of it. I thought we were just kind of out of people and wish them a good day. I think I. I think I really just want to talk about the major trend development today. No.
Tyler Herriage [00:13:14]:
Okay, but let me cover the internals real quick here because this was, I think another tell from Today’s action was 45 minutes into the open with the NASDAQ down 8, 10 of 1%. The internals were positive across the board, and we haven’t seen a whole lot. That’s another pattern change there as well. We finished good on the day across the board, positive for the internals.
Kip Herriage [00:13:39]:
But the theme of this podcast was, again, we think it’s a major trend developing here. We’ll be talking about going forward, but maybe do some more of these as well. Hope you had a great day. Thanks, everybody.
Tyler Herriage [00:13:52]:
Yeah, yeah. This is fun. We definitely have to do it again soon.
Kip Herriage [00:13:57]:
Yeah, I agree.
Tyler Herriage [00:13:58]:
All right, everybody, we all have a great rest of your evening here. We’ll see you back here tomorrow for the close. You can sign up to receive all of our vra podcasts@vra less letter.com. click the podcast link at the top. We’d love to have you here with us. So thanks again for tuning in. Until next time, we’ll see you back here tomorrow for the close.
Kip Herriage [00:14:18]:
All right, good night, everybody. Good night, son.
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