Money Matters: Navigating Inflation, Tariffs, and Market Shifts for 2025

Episode Transcript
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Speaker 1 (00:00):
Good morning everybody. It's that time, Sunday morning right here
eight O Clark Ky AND's T seven ninety am and
it is the Money Matter Show. This is Dean Greenberg,
and for the next two hours, we're going to talk
to you about the markets, about the economy, and about politics.
We're going to talk about how they're interwined and what's
going on and give you some headlines in the same

(00:21):
format we always do with Dave and Dylan, myself, Todd
and Sebastian. We got a great group over here. We're
very knowledgeable and these two hours we just talk. We
talk about things that we know about that we feel
that are important to you. We'll touch on some individual stocks,
we'll talk about some other things. But at the end
of the day, we hope that you understand one thing.

(00:43):
We talk to you as money managers on how we're
actually managing money and what we think about each in
every individual situation. This program is sponsored by Greenberg Financial Groups.
Greenberg Financial Group is a registered investment advisory with the SEC.
Talk about everything, different products, if it's strategy, different ideas.

(01:03):
We all have our own opinions. Guess what they all
have some type of risk. We hope that you understand
the risk prior to investing. If you don't, you need
to ask. Well, the markets have done well again. They
were up one and a half percent on the S
and P five hundred, Nasdaq was up two and a
half percent, Dow was up a half or one percent,
and so is the equal weighted S and P five hundred.

(01:25):
Now for the year, we're basically up four percent on
the S and P and the Dow, almost four percent
on the Nasdaq, and the rustles up to and the
equal rated S and P is up three point four.
So that means it's not just little being led by
a few stocks. It is being led pretty much broad based.
But it just seems like we're not getting out of way.

(01:46):
It seems like we get up here, that we come
all the way down, we get up here, that we
go all the way down. And that's why we keep
talking about how you mitigate risk, how you stay in there.
I just I mean, this week was weird. We've had
both the CPI number and the PPI number come in
hotter than expected. We realize we're not gonna probably raise
into lower interst rates to maybe December, maybe not at

(02:06):
all this year. We know that we're gonna raise tariffs.
All your hear is if we raise tarifs, the market's
gonna go ahead and have more inflation. Maybe it will,
maybe it won't. Probably in the short run, I gotta
guess it will. But let me tell you something down
the road.

Speaker 2 (02:20):
It might not.

Speaker 1 (02:22):
Businesses are smart, they know they can't keep charging a
lot more money. People will find the same product, the
equal product at a better value. So if you're you're
coming and getting your supplies from a country that now
will have high tariffs, go to another country that can

(02:43):
manufacture it on a lower, lower deal, or bring it
back to the US, and you're gonna be able to
get tax credits and everything else. You watch and see this.
In the short run, we might have a little bit
of a hiccup. In the long run, it's gonna be great.
The markets will will respond. It's kind of interesting. They
just continued to go up this week, got back over
sixty one hundred again, and in the face of what's happening.

(03:09):
The second part of February usually not too good at best,
break even or up a little or all. But you know,
it's usually weaker and usually has a decline because most
of the money comes in already. It's just a seasonal
type of thing that you have marches start rally and
April to start rallying, so let's see what happens. I

(03:29):
am looking for a decline at sometimes. I think the markets,
in my opinion, are not being built on cement steps,
which means, if you know, we get knocked down, we
go down a little bit, we go back up. That's
what's been happening. I don't feel the underpinnings of the
market of that way. We've seen it on two Mondays
this month when the markets go ahead and come out

(03:51):
and there's like tarifs or this or that. We're down
one hundred and fifty points on the S and B,
but then we're bought back up right away because we well,
you know, you know, maybe those are just negotiating points. Well,
it's funny if you listen to the MSNBC and CNA, No,
they're not negotiating points. Now we're gonna have high higher
prices and stuff like that. But there is something that's

(04:12):
bothering me that I remember back in nineteen ninety eight,
ninety nine, right before the first market moved down. In
two thousand and one, where was the dot com? And
we were bill going up, and I kept saying the
same thing, I don't feel comfortable with this market, these
dot com things, all this other stuff. And then there

(04:33):
will all these commercials that is sore. And I forgot
exactly who it was, but I remember there's one commercial
the mom was with the kids and then went her
head and they were shopping and she comes into the
house with the with the bags of groceries and she
puts the groceries down and says, hang on a second,
I gotta goet do a trade. And she goes over

(04:55):
to the computer and does a trade. It comes and
sits the table and sits with a friends and tug
s coffee. I just did this, and I just did
and I just made this much money and made it
seem like all you had to do was press a
button on the computer, pick a stock, and you're gonna
make money. And you know what, back then, it was
kind of like that. We haven't seen that in a while.

(05:15):
I'm starting to see those commercials again, and it bothers
me and scares me. Those commercials now are mostly like
someone's in the bathroom and look how easy it is
for me to do a trade. Oh, let me see
bing bang boom. Look at that. Oh let me look
at some information, bing bang boom, Like it's that easy?
Are you kidding me? When we have a bull market,

(05:37):
it is you pick, something goes up. It's like playing blackshack.
Put your money down. Maybe you wouldn't mind me, you don't.
That's not investing, But that's what they want you to
start thinking. Just take out your phone, make a trade,
Go on and brush your teeth, go on and eat breakfast.
Whatever they're doing, it doesn't make sense, and it bothers

(05:57):
me that I'm seeing those commercials again, just like I
saw ninety eight ninety nine. That does not mean the
market's turning around and crashing, No it does not. Does
that mean the market can't go higher, No, it does not.
It means it can go high, It could go low.
What I'm saying is the underpinnings of the market. One day,
when the markets fall off, the interpretation will be it's

(06:18):
not coming back in one to two days, and it's
going to get a more of a sell off. It'll
come down, come down, bounce and won't hold. It'll come down,
and then you'll see that seven fifteen percent moved down
and that will be a buying opportunity. Maybe it comes
from a higher level, maybe it comes from this level,
maybe it comes from a lower I don't know, but
I'm not in the business of trying to pick when

(06:40):
the markets are going to get killed. I mean the
business of mitigating risk as we go higher and they're
coming out of my mitigating risk and then allowing it
to go back up if it can, or look for
opportunities and it keeps coming lower. Hedging using inver inverse funds, Yeah,
it's insurance. You can lose on those things, but then
you hopefully you make money on everything else. There's a

(07:01):
lot of instruments out there that allow you to do
what we need to do. There's gonna be a lot
of noise out there. If you listen to the news,
if you listen to anything and switch around, you're gonna
hear a lot of news. The one thing that I
don't get, Okay, you keep hearing all this stuff now
about Muskin and Trump, and you know it used to

(07:24):
be well, Trump won't let anybody be in his way,
or he won't do anything. He's a dictator. He's taking over.
He's doing everything well and then we watch him allow
Elon Musk allow his son to basically climb all over
him like a jungle gym while he's giving a press
conference and answering questions. I'm not sure about the kid thing.

(07:45):
That was kind of weird, but I love the fact
that he was allowing Elon to answer the questions from
the press. That's not easy to do, you know, when
they're coming after you, and then and he's trying to
give them explanations. Some of them want to listen, and
some of them want to say that he is lying.
They're all going to come after you that way. And

(08:08):
when how I've been handling everything lately. When I talk
to people that try to come up with all these things,
I said, you know what, talk to me about solutions.
Don't talk to me about complaining unless you honestly believe
that there is no way that we can cut out
any fraud or moneies that are going places that we

(08:31):
shouldn't be going. If you don't think that's happening, then
give me another solution on how we're going to go
ahead and cut the deficit. Okay, we can't keep going
up thirty three trillion, thirty five trillion. We can't get
to forty fifty trillion dollars. We can't grow our economy
enough that it won't hinder us. We need to do

(08:54):
something now. It's no different that if you had debt
at home and your credit card is charging you all
this interest and every month you're getting a paycheck and
you're putting it towards there, but you're not getting out
of debt. It keeps growing to the point you do
what you got to go bankrupt or you've got to
get a whole bunch of money in somehow inherited, borrow
it or whatever to pay off everything to get lower things.

(09:15):
But you're always on the hamster wheel. I don't want
to be on a hamster wheel. I want to get
our debt's down. I want to live where we have
a surplus and not a deficit. And if it's because
we have payments that shouldn't be going to places that
we don't approve or like, then there's a problem. The

(09:35):
fact that the IRS has not been audited in over
twenty years is ridiculous. Wouldn't you like to not have
anyone worry about your taxes for that long? How much
stuff has been going on in these agencies. Where's this
money going to? You know? And of course you hear
all these things and whether they say on the other side, well,
we don't know that, there's no proof. Do you think

(09:58):
they're just making this up? They look at stuff, they
see the things that are happening, they look at what's
going on, and they go ahead and say this is
going here in here. Now, Remember, at the end of
the day, Congress is going to have to make decisions
on how they want to handle all this. Yes, we can,
they can fire people, they can cut the fat, they

(10:19):
could do things like that. But at the end of
the day, anything that's going to go out be permanent, grow,
it's going to have to be done by Congress. The
words you keep hearing from the left are always the same.
Isn't amazing, unconstitutional, unconstitutional, This isn't good, this is a
Robert this ain't happening, but unconstitutional. I was trying to

(10:43):
find Remember, I asked people this all the time, and
obviously everyone that's true. What one of these agencies that
were cutting government agencies was put in when we wrote
the constitution. None of these agencies, they were all built

(11:03):
put together by different presidents, different congresses. You know, social
Security came in the forties to help people after the war.
It didn't start with the Constitution. It was never supposed
to be forever. But we put it and became dependent
on it. And that's where people are now. So all

(11:25):
you hear from the left is it going to take
away your medicare, Medicaid and Social Security. But all I
hear is fraud that they want to get rid of.
That these checks went to people that had been dead,
that people that don't deserve them. That goes to illegals
that do things like that. Why are they getting social Security?

(11:47):
Don't you want to be interested if this is true?
To follow the money. Number two Medicaid. I heard many
Democrat congress people say over the last two weeks, We've
known for years that there's at least fifty billion a

(12:08):
year that goes to medicaid fraud. I only wish the
person that was talking to him said, then, why having
you done anything about it? You've had twelve out of
the last sixteen years you've been in office. If you're
no fifty billion going away, you see your debt going up,
Why in Congress have you all allowed us to spend

(12:28):
more money? Why does nobody have a solution to what
we're doing. We've all heard that social Security might not
be there at some time, and that Medicare Medicaid might
have to be cut at some time, But has anybody
done anything about looking into what to do? No, they
use it as a political football weapon. Well, I'm telling

(12:50):
you straightforward and simple words. If we do not do something,
social Security in five, ten, fifteen years will not look
like social Security today. And if you ask people that
are ten twenty years away from social Security, they don't
expect to get social Security. So if they don't expect
to get social Security, why are they up in arms

(13:11):
about fixing it now? And all they're trying to do
by fixing it now, step one is get rid of
the fraud. As you get rid of the fraud, then
you come up with a real game plan on how
over the next twenty thirty years you come off social
Security directly and increase the other side of people putting

(13:33):
money in and employees putting in money into your retirement
account that you can't touch until your fifty nine and
a half. Think about that, if fifteen percent of your
money of you what you earn actually goes into a
retirement account for you that you can touch when you're
fifty five or fifty nine and a half years old

(13:54):
and earns government bond interest four five six percent, whatever
it is. Think about how much money you would have
at the end. And of course there's different things you
got to deal with with whether or not it's you know,
if you die early, where's the money? Goal does the
government get any I mean, think about this. You put
into social Security, But so starting off at twenty to

(14:17):
the time you I don't know, say sixty years old,
and you pass away before you get sixty five, are
you kidding me? Then where's that money go? Yes, some
might go to your spouse if she wasn't working, you'll
she'll get that. But all the other money, where's it go?

(14:38):
If your wife is working, one of them they keep
the money. That is why we're in the constitution. I
would like to know where in the Constitution did we
ever give Congress the ability, if you want to talk constitution,
the ability to borrow our money, your money and my
money that me and my employer put into my retirement account.

(15:02):
The government has never put any money into it. It's
my money and the government and my employer's money. That's
whose money has been put away into my Social Security
retirement account, but the government Congress felt it was okay
for them to take it, steal it, and do whatever

(15:24):
else they want. If I hear one more time from
the left that billionaires don't pay their fair share, they
don't pay enough in taxes without Congress doing something about it, Okay,
there's number one. But now it's so funny because all

(15:44):
you hear now is that Elon Musk is getting rid
of all these agencies so they can go ahead and
give tax cuts to the billionaires. Well, I wish one
reporter would go, how does that make sense? If you
say billionaires don't pay enough in taxes, that they pay
less than their secretaries, But yet you're concerned about them

(16:07):
getting rid of all these agencies and save money for
the taxpayer for them to be the ones that are
going to get less taxes. They're not going to get
less taxes and they're already in the lowest tax bracket.
What are you kidding me? Use common sense? And I
wish reporters had common sense other than an agenda to

(16:29):
try to make the other person look bad on either side.
On either side, the hypocrity or the hypocrit hypocrisy that
you hear when the other politician, the other the other
political group gets in is amazing, absolutely amazing. But you
know what, I like people that come up with big ideas.

(16:52):
I trust people that go and get things done. And
that's what I tell people. You don't like what's going on,
but you have not done anything to try to do something.
You didn't try to fix Social Security, you didn't try
to fix Medicare, you didn't try to fix the fraud
that you all have said is there. You didn't do anything.

(17:15):
So now somebody is actually doing something, and all you
can do is complain about it and say it it's
wrong by the Constitution, it's illegal. And all you do
is get some little punk ass a judge in a
blue a blue state you can get Massachusetts to come

(17:37):
up would say we're putting a stay on this, We're
putting you're no longer able to do this. Well, it's
not gonna last very long. And if you think the
Trump group doesn't know that this was gonna happen, that
they were gonna get a toro that they can move on,
then you don't know how smart this group is. You
don't become business billionaires. You can become an inherited billionaire,

(18:01):
but you don't grow companies and make that type of
money by being stupid, by not anticipating. If you don't
think Elon Musk anticipated this backlash and the whole Trump thing,
then you probably don't realize how smart they are. But
they are very smart people, which I don't believe the

(18:21):
people that were in there before were smart. Okay, I
don't understand how Chuck Schumer, who was probably making on
the average all his years two hundred to three hundred
thousand dollars a year and actual maybe wages, and that's
probably pretty high. It's probably over the last few years,
made that much money. It's worth what fifty sixty seventy

(18:41):
million dollars. We have questioned that we're gonna find this out,
and you know what, there might be a lot of
illegal activity. And I went on, you know when we
hear the stuff that the Zelensky in Ukraine says, well,
I know they said they gave us all these billions
of dollars, but we didn't get all of it. Where'd
the rest of it go? Well, you see that checks

(19:04):
went to George Soros, groups went to media around the world.
Of course we've seen the media be against the right. Well,
they get paid, they get money, of course that's what
they're doing. But why doesn't anybody bring that up? They
will be exposed. Americans made the right decision many months ago,

(19:28):
a few months ago. They made the right decision. And
I tell you, frankly, I didn't think that our country
was ready to make the right decision. I didn't think
there was enough people that understood how bad it was
and that and that the war was being pulled all
of our lives. I am so excited and so happy

(19:49):
that we are now. You didn't people in that get
the job done, that will expose what's been going on.
That don't need to do it because the power is
with them. And I've always Sai my whole life. You
want to have the power, the real power in the country.
It's not Congress they have power. It's not just a judge,

(20:09):
it's the Supreme Court. If you if the Supreme Court
leans more towards your thinking, you got the ultimate power.
And why do you think the Democrats have been trying
to destroy the Supreme Court? The way it is, They've
had the power up until a few years ago, for
what twenty thirty years, they had the majority thinking that

(20:31):
the way they wanted to think. Now it's switched the
other way and they're not gonna get it done. But
at the end of the day, you're gonna have business
people fix what's wrong with America and help others. The
Department of Education needs to go to the States. I
believe that. I've said that for so long. That way
we can hold Arizona officials accountable for the horrible job

(20:57):
they have done. We might be fortieth in the in
the world. How about us being forty or something in
this country? How can Arizona be this far behind? And
then they argue about school choice. I don't get it.
I don't get it. We need to do these things.
This is gonna help it. I know you say that

(21:17):
we get all this together, It's gonna take time. Maybe
not as long as that other people. But when we
see a year or two from now and we see
the fruition of everything coming to to to to fruition,
all all these things coming to fruition. Sorry I screwed
that up to fruition, we will now see this economy

(21:39):
start the roar. And if we start cutting the debt,
bringing down the spending, doing the things that everyone says
we need to do, but finally getting it done. We're
going to be very very happy with what's going on.
We're not saying we're not helping the world. We're not
saying we're not gonna help NATAL, but we want everyone
to share in there. If you're a socialist country and

(22:00):
if you're in Germany and you can't afford to pay
more in NATAL because your country is having problems paying
everyone that they need, well rethink what you're doing, and
you know what will happen. The capitals will come in,
the right will start moving in. As you see that's happening.
Because people don't want to be put in that position.
Okay they don't, and it's not that easy to go

(22:22):
on your own and just do this. Look at England.
They wanted to get out of the Euro. They got
out of the Euro not a very happy campus. They've
been having their own problems. Migration of people, Okay, people, immigrants.
Everybody knows you need people to come to your country legally.
People don't want people illegally. We were allowing them in

(22:45):
faster and in bigger numbers than anyone in the world.
Most people have borders. Look the Palestinians, and I feel
bad for the good Palestinians that don't want war, want peace,
want all that good stuff. Didn't want the things to happen.
They had no place to go. Nobody wants them. Joining
doesn't want them. Egypt doesn't want them. Nobody wants them.

(23:08):
They want their own people. So you can it's okay
for that. We're able to say, well, you know, of
course they shouldn't leave Gaza. It's their land, it's their land.
Why should they leave. Nobody wants them even if they
wanted to leave. They don't want to bring in refugees
because it's problems. It brings down what you have with

(23:29):
what you got. We got to build it up. That's
what I say. Lastly is it's real simple. Finally change
the mindset. With two playing fields. And they and the
left wants you to come from the top playing field
and come down to the lower playing field. That's how
they think you level it. They're right, and people like

(23:51):
myself believe you give opportunities to the lower playing field,
you give the resources to the lowing playing field, and
you bring them up to the upper laying field. And
if they don't want to get to the upper playing field,
then that's their problem. But you allow them the opportunities.
You give them the opportunities, and everybody gets to the
upper playing field. Now you're number one, you stay number one.

(24:14):
You stay with the technology, the smartest, and the most
concerned and the most and capitalism then works. Thank you
for listening. We got to rescue the show to go.
This's a Dean Greenberg with the Money Matter Show.

Speaker 3 (24:28):
Welcome back to the Money Matter Show. I'm Dylan Greenberg.
I'm here with Dave Sherwood and Dean Greenberg. Todd Glick
and Sebastimore Senior are up on the mountain right now
over in Schola. Hopefully gets some snow.

Speaker 4 (24:38):
Take advantage of a three day weekend, and don't forget
the market is closed on Monday for President's Day.

Speaker 3 (24:44):
Yep, it is indeed, So I'll have a short week
next week, which usually going to be good.

Speaker 4 (24:51):
Your President's Day is Lincoln's birthdays on the twelfth and
Washington's birthdays on the twenty second. And they were having
difficulties because some people wanted the twelfth off, some people
wanted the twenty second off, some people want them both off.
So in nineteen sixty eight, get this, the Uniform Monday
Holiday Act made the third Monday in February President's Day.

(25:14):
So no more of this taking off the twelfth than
the twenty second, or trying to decide between the two
or one day the third Monday in February, and that's
that's just that's tomorrow works out.

Speaker 2 (25:27):
Well, it's a nice time to go skiing.

Speaker 4 (25:28):
No no mail, no banks, no brokerage, nothing. Enjoy a
day of relaxing and thinking of your presidents.

Speaker 2 (25:39):
That's the goal. Yeah.

Speaker 3 (25:41):
Hey, for those of you who's just tuning in, the
Dow was up half a percent for last week. That's
in P five hundred was up one point five percent,
and the Nasdaq was up two point six percent. The
Russell two thousand, which is made up of the two
thousand small cap companies, is flat or was flat for
the week, and then the equal weight to S and
P five hundred was up five point five percent for
the week.

Speaker 4 (26:01):
We always say how we don't watch the Dow because
the Dow is not necessarily representative. It's only thirty stocks,
and the committee works hard to make sure those thirty
stocks mimic the market as closely as possible. But just
as an example, for this month, in two weeks, the
Dow is up zero well, the S and P five
hundred is up one point two percent. So again, what

(26:24):
we like to say is, if you want to know
what the market's doing, look at the RSP, the equal
weighted S and P five hundred.

Speaker 2 (26:30):
Yeah, and for the.

Speaker 5 (26:31):
Month, that's down point one.

Speaker 4 (26:33):
It is the market is the market is actually down,
even though those tech stocks are once again leading the way.

Speaker 1 (26:40):
Yeah.

Speaker 3 (26:41):
I mean, if you look at it for the year,
obviously we're only about five six weeks into the year,
the Dow's up four point seven percent, the nasdac's up
three point seven percent, and the equal weighted is up three.

Speaker 2 (26:52):
Point four percent.

Speaker 5 (26:53):
Pretty close.

Speaker 3 (26:53):
Yeah, it's all about the same. I mean, tech's been
on a roller coaster.

Speaker 4 (26:57):
Really, this is a double kind of a double holiday
weekend because this President's Day weekend is also Valentine's weekend
Valentine's Day on Friday home. Sure, you did wonderful things
for your girlfriend. I know I did wonderful things for
my wife, although I'm not sure she would agree they
were wonderful, but they were wonderful. Thought that counts It's
a thought that counts Dylan and I. You know, whenever
there's a holiday, I always like to think, where did

(27:19):
this come from? How did we end up with Valentine's data.
I've always thought, well, maybe it's something that Hallmark made.

Speaker 1 (27:25):
Up to sell more.

Speaker 2 (27:26):
Yeah, I thought it was kind of that.

Speaker 5 (27:28):
Get this.

Speaker 4 (27:28):
It originated over thirteen hundred years.

Speaker 2 (27:31):
Ago Valentine's Day.

Speaker 4 (27:33):
Valentine's Day as a as a Christian feast day honoring
a martyr whose name happened to be Valentine, and through
later folk traditions, it's become a significant cultural, religious, and
commercial celebration of romance, with emphasis on commercial wow, and

(27:55):
it's celebrated all over the world. But thirteen hundred years
ago is when they first started the records of Valentine's Day.
Thirteen hundred years Ye, that's crazy. Probably looked a little
different than looks today.

Speaker 2 (28:07):
Yeah, I would say so.

Speaker 4 (28:08):
But it's in a contrary to many of many of
you out there, it is not international Wemen's Day. It
is Valentine Day, and it goes both ways. Although sometimes
you wonder, right.

Speaker 2 (28:21):
Yeah, well you gotta celebrate everybody.

Speaker 4 (28:24):
It was a really interesting week in the market. You
want to do to disclaimer before we get into this
a little bit.

Speaker 2 (28:29):
Yeah, I could do the disclaim mine. Yeah, we could
do it right now.

Speaker 3 (28:32):
And this show is sponsored by Greenberg Financial Group and
you can listen to it on seven ninety K and
SD or iHeartRadio. The show discusses different investment products and strategies.
Every product and strategy have some type of inherent risk,
and we strongly encourage our listeners to properly understand the
risk to determine whether to buy seller hold.

Speaker 2 (28:51):
This show has been on the air for over thirty years.

Speaker 3 (28:54):
The Greenberg Financial Group is registered with the SEC and
a member of CIPIK and visit our website at Greenberg
Financial dot com for more information.

Speaker 5 (29:03):
Thank you, buddy. Thirty years.

Speaker 3 (29:05):
I know I was thinking the same thing when I
was reading, because normally Sebastian does that, and I hear
it and I'm like, yeah, thirty years is a long time.

Speaker 2 (29:11):
I've been doing it in your Sunday and your whole
I'm thirty. He started this right before I.

Speaker 4 (29:17):
Was born, celebrated the radio, celebrating your birth with the
radio show Get.

Speaker 2 (29:20):
On the Radio.

Speaker 3 (29:22):
Ever since I was about seven, periodically very slow and
then when I got back here and started working with him,
and I was on every day from day one.

Speaker 4 (29:29):
Yeah, and for a good what fifteen plush years of
that he was doing it all by himself. Dean was
doing it all by himself.

Speaker 2 (29:38):
All by himself.

Speaker 5 (29:38):
Yep. Amazing.

Speaker 4 (29:39):
He used to be a one hour show. Yeah, in
fairness to those of us who think that's amazing, but
even when it became a two hour show, he would
do it all by himself.

Speaker 3 (29:47):
And to be aired live on Sunday. So you have
to wake up at seven am on a Sunday, yeah,
and go to the radio station.

Speaker 5 (29:55):
Yeah.

Speaker 4 (29:55):
When COVID hit, we started doing it in the office
and I was able to come on because I'm busy
with my church on Sunday, so I never was able
to do the radio show. So in March of twenty twenty,
I started coming on, and after not having a full
weekend for twenty five years, Dean kind of enjoyed having

(30:17):
the weekend. So we record on Friday afternoon to be
aired on Sunday. So I think most most of you.

Speaker 5 (30:23):
Aware of that.

Speaker 4 (30:24):
I think the big news headline this week, Dylan, because
you look at the market and we really should have
been down a couple of percent. This week, the CPI
Consumer Price Index was hot, hotter than expected, the highest
inflation rate since last June. The PPI, the Producer Price
indecks hot, hotter than expected. Inflation is starting to raise

(30:47):
its ugly little head again.

Speaker 3 (30:48):
Yeah, and usually you see this, sometimes the CPI gets
shrugged off, but the PPI tends not to be shrugged
off if it's more than expected. Yeah, but it got
shrugged off this time, shrugged off, totally shrugged off.

Speaker 4 (30:58):
And retail sales on Friday, retail sales in January down
nine tenths of a percent. They were expected to be
down two tenths of a percent.

Speaker 3 (31:05):
Yeah, which January tends to be lower because all the
holiday shopping's over, you're trying to pull back on your spending.
But to more than quadruple.

Speaker 4 (31:13):
Yeah, they were, they were terrible. Yeah, and so you've
got you've got terrible inflation numbers, you got terrible retail sales,
and the market kept going higher because of number one,
corporate earnings were pretty outstanding.

Speaker 2 (31:26):
Yeah.

Speaker 4 (31:27):
But throughout the weekend and again the Trump two point
oh seems to be trumping everything.

Speaker 3 (31:32):
Yeah, I mean, on Friday, all the industries were down
at one point, then the NAS back end of the
day up about eighty points. The Dow and the S
and P were still down for the day, so those
reacted negatively to the retail sales, but tech just didn't care.
So when you have techos up, the musch in videos
back to doing its thing, back all the way to
one thirty seven, that helps the SMP not go down
as much. But it's gonna be interesting to see what

(31:55):
the next retail sales are because if those are down
more than expected, again, what do you think in the
outlook is, because then it's not holiday excuse or after
holiday excuse anymore like a January is.

Speaker 2 (32:06):
You see that, you see inflation hot. It's going to
be interesting.

Speaker 3 (32:09):
Then our corporate earning is going to start coming in
lower than expected if people are stopping the spend right now.

Speaker 4 (32:13):
So I think Trump, I think Trump's going to have
three or four or five months of this before the
pedal hits the medal, so to speak, or the rubber
hits the road. I really do think there's going to
be a little bit of a honeymoon here for a
few months.

Speaker 3 (32:27):
Well I agree too, And also, I mean we were
talking to people whether their clients or not. In the
last quarter of last year, ever, from October September pretty
much until the end of the year before the election,
how they were nervous about the election, didn't want to
put any money to work, rather get money out of
the markets because they didn't.

Speaker 2 (32:45):
Know what was going to go on with the election
one way or another.

Speaker 3 (32:48):
And then now that money is starting to be put
back in, and if you do it slowly, so say
they just have their advisor take them and go the
dollar cost averaging route. Say you took out fifty percent
of your money from the markets in September because you're
nervous of the election. Now you're going to start putting
that back into the markets come December, January, February, March
or yeah, March, twenty five percent of he stops. Now

(33:08):
all of a sudden, you're putting money back in on
top of the new money coming in from the four
to one.

Speaker 2 (33:12):
K plans in January and February getting put to work.
So these first the first quarter could be good.

Speaker 3 (33:19):
But then after all that money that's been on the side,
and everybody's excited about Trump if they were, because a
lot of people were nervous they're like, what if Trump
doesn't get elected, I don't want my money in the market.
Now that he is elected, those people want to get
back in, but it's also about how can you feel
the comfortability to get back in. So give it a
few months, like you're saying, and then it could settle
in and we could see comes summertime, maybe a better

(33:41):
idea what the rest of the year could be.

Speaker 4 (33:43):
I think you're right. I think summertime is I think
he gets a honeymoon until summertime. We know that January
is the month with the biggest inflow of money into
four one K plans. February is number two.

Speaker 1 (33:54):
Yep.

Speaker 4 (33:55):
It takes a while. You're depending upon your salary. But
in the higher salary brackets fund their entire four to
one K for the year in January. People in the
upper brackets February in March, and by March pretty much
all of the very rich people have funded their four
to one case and then it comes down to the
rest of us. It's kind of a lag along for

(34:17):
the ear I think as I look back on the week,
I'm thinking, gosh, it should have been a down week.
Why wasn't it? And I think the one thing that
the market's hanging his hat on is this tariff situation
with Trump. It frankly, it scares them a little bit
because there's an uncertainty factor in the market does not
like uncertainty. So when he came out on Tuesday Wednesday

(34:37):
and said was going to do the retaliatory tariffs, and
he said he's gonna hold off for a while and
study them, Huh, that's interesting. So if we're not just
going to start blasting putting tariffs on everybody left and right,
and we're going to study it and see what the
impact might be on the economy, and that's a little

(34:58):
bit more of a deliberate approach, right, Yeah.

Speaker 3 (35:00):
I agree, And it's kind of interesting, Like when you're
trying to like you're talk about putting money to work,
it's like, all these downturns from tariffs, are they gonna
be put on or they're not.

Speaker 2 (35:07):
All the nerves of the uncertainty.

Speaker 3 (35:09):
The market goes down one day, that's like a buying
opportunity right now, because the next day it went up.

Speaker 2 (35:13):
So it's been a roller coaster.

Speaker 3 (35:15):
It has it has been, and it's like because you
don't really know what exactly he's gonna say what he's
gonna do. He talks a lot, but he hasn't put
it on. Besides, I mean, what's gonna happen in roughly
two weeks now with Canada and Mexico?

Speaker 2 (35:28):
Are they going to continue to delay them? Are they
gonna take him out?

Speaker 5 (35:31):
Yeah, you don't know what he's gonna do.

Speaker 3 (35:32):
All it is delay for thirty days, which was about
two weeks ago now.

Speaker 4 (35:36):
So it does seem at this point to be using
tariff's as leverage, which is kind of cool.

Speaker 5 (35:40):
I mean, I think that's.

Speaker 2 (35:41):
The negotiation tactic.

Speaker 5 (35:42):
Yeah, a negotiation tactic.

Speaker 4 (35:44):
So we'll be back. We get a break coming up.
We'll be back right after this break with more than
Money Matter Show. Thank you for joining us. Welcome back
to the Money Matter Show. This is Dave Sherwood. I'm
here with Dean Greenberg, Dylan Greenberg, Sebastian and Todd are
up at the White Mountains, enjoining a three day weekend
on the slopes.

Speaker 5 (36:02):
Again.

Speaker 4 (36:02):
Monday is a holiday President's date. There will be no banks,
no market, no mail, So enjoy enjoy a day off,
like I said, celebrating our presidents exactly.

Speaker 3 (36:13):
You know what we were talking about before the break
was tariffs and all the uncertainty that's come in with it.
Like you said, he was doing retalitary or how do
you say that word recaliatory ecliatory? There you go with
countries and when is what's going to happen with the
Mexico and Canada tariffs or we're gonna actually go through
with them, are we not? Inflation was a bit high

(36:34):
in January and that so that was going to help.
And is it more just a negotiation tactic, which really
it seems more of a negotiation tactic. He's using the
US as stronghold on the world as leverage.

Speaker 5 (36:46):
Which smart, very smart. You know, he is the art
of the deal.

Speaker 4 (36:50):
And he's a deal maker, not a politician. He's a
business man. He's a deal maker.

Speaker 1 (36:55):
Yeah.

Speaker 3 (36:55):
And I mean you see that with Putin agreeing to
sit down now they want to get the war done
over in Ukraine and Russia.

Speaker 4 (37:02):
Well you said, yeah, no, go yeah. He said to Pootin,
we can either do this the easy way or the
hard way. I prefer the easy way.

Speaker 2 (37:08):
Yeah.

Speaker 4 (37:09):
What what does the hard way mean? Well, it means
I don't know what it means, because this guy is
pretty aggressive and this guy being Trump, yeah means hard
way does not sound good.

Speaker 3 (37:21):
Yeah, it's like and I mean, I think that would
be a good thing, that they're finally gonna end that
war after what two years?

Speaker 2 (37:27):
Years?

Speaker 4 (37:27):
Yeah, it seems like it's been going on forever.

Speaker 3 (37:29):
But it's what I've been seeing is if you don't
like Trump, he can't do anything right in your eyes. No,
this is the first time that Putin's talked about in
a while, I think, or at all, to end the
war like quickly. And those people that don't agree with
Trump are saying, oh, Trump's his puppet, Trump's dumb this

(37:49):
and that, saying he doesn't.

Speaker 2 (37:51):
Know anything about how to do it. Putin's just using
him and all this How much Ukraine is he going
to give away? All this stuff?

Speaker 3 (37:55):
It's like, how do you not just say, Okay, this
is good, this is going in the right direction.

Speaker 4 (38:00):
You can walk on water, and the critics would say, well,
wasn't it wasn't that deep?

Speaker 2 (38:03):
You know, Yeah, it gets frustrated.

Speaker 5 (38:07):
It's frustrating. It's frustrating that that you can't see.

Speaker 4 (38:10):
I mean, the one that bloils me away is all
the protest over ice arresting illegal immigrants who have committed crimes.
I'm not sure how you protest.

Speaker 2 (38:20):
That, yes, committing crime part, especially like, how do you
protest that.

Speaker 4 (38:24):
Now if they're going door to door getting women and
children and stuff. Okay, I get that, you know, yeah,
but that's not what's harmless people.

Speaker 2 (38:31):
But if they're doing criminals, yeah, I agree.

Speaker 4 (38:33):
I've noticed the clients have been getting pretty aggressive. This
would be a good time to revisit your risk tolerance
if you haven't visited the risk questionnaire in a while,
and give us a call. One thing we have discovered
is during times like this, your tolerance for risk will
score higher than it really is, and when the market's

(38:55):
selling off, it'll typically score lower.

Speaker 3 (38:58):
Human nature makes sense emotional, and that's what we try
and do is take the emotion out of it for you.
Once we have a few meetings, get an idea what
your goals are and objectives, and then that helps take
the emotion out of it so you can stay invested
in the turbulent times going to risk tallarants. So yeah,
I mean, people are happy right now obviously because new administration.

Speaker 2 (39:18):
You've got a lot of people out there happy.

Speaker 3 (39:19):
We're still hitting all the time highs in the market,
and some people are saying the SMP can go to
sixty eight hundred. One of the investors that we follow
and get ideas from, he says, sixty eight hundred by
the end of the year.

Speaker 5 (39:31):
One of the analysts. One of the analysts, Yeah.

Speaker 2 (39:32):
Okay, crazy high. Yeah, but I mean it could be possible.

Speaker 3 (39:35):
They called that last year saying they think they're going
to finish the year at six thousand, sure, which at
the time it was at fifty three hundred. But I
mean it's still new highs, new highs, new highs. How
long can that go for?

Speaker 2 (39:46):
It? Don't go to the sky, trees, don't go to
the sky.

Speaker 4 (39:49):
It does feel like the market wants to go higher.
This week was a great indicator. I agree pretty much.
The news backdrop was negative all through and they picked
the one little bit of good news Trump delaying the
tariffs and build a whole week around that.

Speaker 2 (40:05):
Yeah.

Speaker 4 (40:06):
So I think you need to be careful here if
you're a risk adverse investor. This is not a time
to jump in with both feed.

Speaker 1 (40:13):
Yeah.

Speaker 3 (40:13):
And the thing is all news can be good news
like that because you can find anything, but then it
can turn quickly, where all news is bad news and
everybody wants to get out, and then it drops quickly,
and then that's when the fear sits in and it
drops even more and quicker. So that's something you got
to think about. And like you're saying, if you haven't
checked your risk tolerance, if you haven't done your financial plan.

Speaker 2 (40:32):
In a while, or you got to revisit.

Speaker 3 (40:34):
You got to revisit your risk tolerance, give us a
call and we'd be happy to sit down and set
everything up. Go through your financial plan, do our risk
analyzer tool, which if you have a portfolio you just
want a second look at it, we can put it
into our tool, see if it lines up with what
your risk tolerance is and if it's not, that's a
whole different conversation because you want to check that every
once in a while, especially when the markets are getting
all time highs. You want to check yourself in a

(40:55):
sense and what your goals are. Maybe your risk tolerance.
The last time you did it was five years ago,
and I are two years from retirement. A lot changes
within two years rather than seven years to retirement, right,
so you want to be able to be on top
of it and make sure you're still going towards the goals.

Speaker 5 (41:10):
That you want.

Speaker 4 (41:11):
And we talked about risk reward tradeoff. I think right now,
the upside you talked about sixty eight hundred, that's about
twelve percent up right, Yeah, and the downside is fifty
seven hundred, which is about fifteen percent down So you've
got twelve percent upside fifteen percent downside if you use
those numbers, and so that's not a real good risk.

Speaker 5 (41:31):
Reward trade off.

Speaker 2 (41:33):
Yeah, exactly.

Speaker 4 (41:34):
You want to be cautious here. If you want to
have more exposure to the market, maybe consider the dividend ETFs,
the value oriented ones, Maybe consider the equal weighted s
and P five hundred, which has not moved. Be very
careful of the technology space. It's just been running and
running and running. We talked about the CPI of being

(41:56):
higher this week. The Consumer Price Index given an example,
it was up half a percent in January. That's the
highest month over month increase in a year and a half,
highest in a year and a half month over month,
so it's jumping. Eggs, of course were the big one
that jump fifteen percent in one month due to.

Speaker 5 (42:14):
The Avian flu.

Speaker 4 (42:15):
And it's pretty much shortages of eggs. I was in
Fries and noticed that the egg area was pretty sparse.

Speaker 3 (42:23):
Costco hasn't had it in the three weeks that I've
been there, but Trader Joe's always has.

Speaker 5 (42:26):
A good se that eggs at all.

Speaker 3 (42:28):
Costco No, they ran out last week and they didn't
have it at all because their shipment was stuck.

Speaker 1 (42:33):
Shelter.

Speaker 4 (42:34):
Shelter is thirty percent of CPI, and we were encouraged
that shelter might be coming down with a little softening
in home prices, a little softening in rental rates. Right,
I thought that might just come down. That jumped due
to get this rising insurance premiums. So rising insurance premium
and we all feel that, I mean we all talk

(42:56):
about that the insurance premiums are just they're they're un.

Speaker 3 (43:00):
Well, and that's the whole thing too. Rise in insuranceperience.
I mean, mine went up four hundred dollars for my
house for the year. But we're talking about like when
with California too, Like a lot of people are gonna
start leaving that state because of all the insuranceperiences are skyrocketing,
even if the insurance company's even gonna keep insuring those
houses after those fires and the potential for more. Now
you've got mud slides going on down in southern California

(43:21):
again because now it's raining too much.

Speaker 2 (43:23):
Yeah, so it's all just a lot of issues.

Speaker 3 (43:25):
But I mean, we're getting that everywhere, and it's inflation.
But if it screws a lot of people that rely
on Social Security only their only income, because yeah, you
get a cola, you get a cost of living increase
for Social Security each year, and it could be three
percent and inflation was only two point five percent. Doesn't
matter when your home insurance is increasing that sixteen percent.

Speaker 4 (43:48):
I have a client that retired to I think it's
granted past Oregon, no Eagle something Oregon. I can't remember
the name of the town, doesn't matter. His career was
in San Francisco, and they bought a house in San
Francisco for thirty seven thousand dollars. In that not in
downtown San Francisco, but in the in the general area,
for thirty seven thousand dollars. He said he just saw

(44:10):
it sell for one point six million. That's what's happened,
thirty seven thousand to one point six million.

Speaker 2 (44:15):
It's crazy.

Speaker 4 (44:16):
I mean, it's unbelievable. Again, holiday shortened week coming up
because of the President's Day. Only forty quarterly earnings reports
last week. I believe there were two hundred, so forty
would be be about seven and a half percent of
the S and P five hundred and so that's not
a busy week for earnings and a holiday short and week.

Speaker 5 (44:37):
China.

Speaker 4 (44:37):
China was up for a fifth straight week. China's rallied
twenty six percent in the last twelve months. We had
talked a couple of months ago about some of our
analystsing green shoots, and I explained that to you know,
South Dakota farm boy here, if corn is going to
be knee high by the fourth of July, it starts
with green shoots, and so green shoots are kind of
the beginning sign of life. They were saying a couple

(45:01):
of months ago, they're starting to see green shoots, and
maybe maybe that's working out. Oiled down twenty five cents
on the week to seventy seventy five, Gold up twelve
dollars to twenty eight seventy nine. It did hit twenty
nine forty five during the week, which isn't all time high.
Another all time high Bitcoin picked up a couple of percent.

(45:21):
Didn't see much movement in interest rates. The ten year
treasury was four point four to seven. That's down one
basis point from where it was before, so kind of
hanging in there. I think one of the interesting stories
of last week was, well, not last week, the last
three weeks is Meta the former Facebook. Yeah, Oh my goodness.

(45:42):
Shares of this stock rose last week, closed higher for
eighteen consecutive days. Eighteen consecutive days.

Speaker 2 (45:50):
Yeah.

Speaker 4 (45:50):
Now, not only is that the longest winning streak Dylan
in the history of the company that came public in
twenty twelve, it's the longest winning streak for any stock
since nineteen eighty five.

Speaker 2 (46:03):
That's crazy.

Speaker 4 (46:04):
Eighteen consecutive days higher.

Speaker 3 (46:07):
Come a long way from about what three or four
years ago when uh Zuckerberg was putting all that money
into the metaverse.

Speaker 4 (46:15):
Seven hundred billion. It's like seven hundred and ten dollars,
and it was back then it was one hundred dollars
and it looked like a car going towards a brick quality.

Speaker 3 (46:21):
It came out of like sixty bucks was gonna do
well because they thought he was off the wall, like
why is he putting so much money into this metaverse
stuff and all that, and like, what is it's just
losing money, losing billions a year, and he kept doubling
down on it, and it turns out it was probably.

Speaker 2 (46:35):
More about the AI part of it. That's unbelievable that
they were looking at.

Speaker 4 (46:39):
Speaking of unbelievable, how about nvidio I dropped to one
sixteen on February second after that Deep Seek news. Yeah,
they had come up with AI using cheaper ships. It
has since rallied twenty percent since February second, And that
reminds us of something that we've talked about for a
long time. That's every dip in the video has been

(47:00):
a buying opportunity. We wondered if this one might be.
It seems like it seems like it.

Speaker 2 (47:05):
It was.

Speaker 3 (47:07):
Yep, it pretty much is. I mean, but again, like
those textoks like in videos, is super volatile. So something
you gotta out of the risk halls for you do it.
You don't want any news that you don't know what
the news.

Speaker 2 (47:17):
Is coming out.

Speaker 3 (47:18):
Deep c came out of nowhere, came out of nowhere,
just hammered textoks hammered something.

Speaker 2 (47:22):
You got to keep it in the back of your
mind when you're investing.

Speaker 4 (47:24):
In I think the high on that video was something
like that high, and it's it's back to one thirty eight, yes,
have to being one sixteen two weeks ago. Anyway, we'll
be back right after this break with more of the
Money Matter Show.

Speaker 3 (47:38):
Welcome back to the second hour of the Money Matter Show.
For those of you just tuning in, I'm Dylan Greenberg.
I'm here with Dave Sherwood and Dean Greenberg. The Dow
was up point five percent for the week. The S
and P five hundred was up one point five percent
for the week. Then Nasdaq was up two point six
percent for the week. The Russell two thousand, which is
small cap, was flat, and the RSP, which is the
equal way to SMP five hundred, was up point five

(48:01):
percent for the week. So the S and P five
hundred was up more than they equal weighted, which tells
you Tech was up more because you got the nas
back up two and a half percent, which is the most.
So that's big Tech carrying the markets again, which usually
does even though they had the big sell off two
weeks ago. Like we're talking about in the first hour
of uncertain News, where Deep Seat just came out of nowhere,

(48:23):
crushed these tech stocks.

Speaker 2 (48:24):
They rebound like it's never happened. Because one other piece.

Speaker 3 (48:28):
Of news comes out that says deep Seek might not
be as efficient as they say, blah blah blah whatever
it could be. Text back to where it was before
and videos back to one thirty eight. Yeah, the only
one that really hasn't recover. But that's for different reasons.
Which is interesting because we've talked a lot about Variative Holdings,
which is VRT, because we're a huge fan of it lately,
because that is the cooling system for these hot chips.

(48:50):
It wires that go through the chips, they cool it down.
Big new innovative company that we've been a big fan of.
It's had a huge run up in the last twelve months,
pulled back about ten points twenty points in the last week.
And the CEO comes out and says too, He's like,
I don't know why, he says, because we're still making
the chips. Everything's going the way that they're saying they're

(49:11):
gonna need chips and chips and going in the future.

Speaker 2 (49:14):
But our stocks are out twenty points, so.

Speaker 5 (49:15):
Yeah, well they could.

Speaker 4 (49:16):
They came out with disappointing guidance. If I remember correctly,
what is it on Wednesday that it was down ten percent?
It was the number one performing SMP stock last year. Yeah,
and it's come about twenty percent off of the high
ten percent where it was. Guidance guidance for the current
quarter came in softed and expected, which is kind of
interesting because it has decoupled from Nvidia, right, Yes, it

(49:37):
happens with Nvidia, and it's just kind of it's just
kind of laying there right now.

Speaker 3 (49:41):
But it's it's one of those companies that's interesting because
there's a lot of those companies out there that is
just a little niche in this new AI world. All
it does is cool down the chips. But it's a
great company because you need something like that moving forward.
So what other companies are out there that are doing
something like that and.

Speaker 4 (49:57):
It kept run so hot that they melt down if
you don't have cooling.

Speaker 3 (50:00):
Yeah, and like the fans or whatever, they cool down.
The data stiders with right now don't do the tricks,
so they have to have the actual.

Speaker 1 (50:06):
Well let's go through it right, let's face it too.
When they all got hit there, you know, when deep
seek came in, right, they were all worried about they're
not going to need these data centers. Well, like we
said back then, do you think the people for Meta
and Google and Microsoft and all these people are are like, like,

(50:28):
we don't know what's going on, you know, And and
it was reiterated that they're still spending hundreds of billions
of dollars on what AI moving forward. Well, if you
do that, you're still going to need data centers. And
if you have data centers, just still need cooling. And
if you have all those things, you still need chips.
And it was amazing how quickly people overreacted to that.

(50:52):
But I look at it as more of a symbol
of how this whole market is.

Speaker 2 (50:57):
Though.

Speaker 1 (50:58):
You know, we were going up and up and everybody
knew it. Sometimes AI is going to get hit. That
was overdone, right, something comes out boom and knocks it
way down. Well, that's what I'm concerned about the market too.
We keep going higher, we keep going higher, we keep
going higher. When something really sticks, whether it's the tariffs
that the markets can look at longer term, whether it's inflation,

(51:20):
whether it's a slow down, whatever it is, we are
not building this on cement steps right now and it
bothers me. We're building it on on on on a like.
I don't want to say house it carts because I
don't think there's a crash. I don't think it's two
thousand and eight and obviously the pandemic, look what happened.
But I am concerned that we can have some weakness
and if it continue, it would scare people, just like

(51:43):
Veritev did. Boom gets down, but then it becomes a
buy well and that's.

Speaker 2 (51:47):
How we viewed on video when Deep Sea came out.

Speaker 3 (51:49):
That was a buying opportunity to drop down to one
oh eight, I mean, and that was back to one
thirty eight. Those are buying opportunities, but for how long
until people do get scared enough for long enough to
sell and then the shift goes away for him, those
big magnificent seven socks right, Just like Dave was saying
in the first hour, Meta has had eighteen straight days
of positive It's a record for him. It's the best

(52:11):
tech stock run in since nineteen eighty five.

Speaker 1 (52:15):
Except now the concern right because TikTok is back.

Speaker 2 (52:18):
Not TikTok, yeah, TikTok, Yeah, TikTok is back.

Speaker 1 (52:21):
Okay, I thought I said TikTok so.

Speaker 4 (52:24):
It was a Tata consecutive days and nineteen of the
last twenty it was down on Thursday, backup on.

Speaker 1 (52:29):
Well because the app TikTok app was gone.

Speaker 3 (52:32):
That's why it makes you feel like Microsoft is down.
It's down about what ten percent from its eyes.

Speaker 1 (52:38):
Well, there was two that have gotten beaten out before
it Microsoft. You don't keep a good boy down like
that an oracle. Okay, you may all go ran up
and came down, but these are all the tech stocks.
And you know what, where before and twenty two you
might have built it up to where it got to
a big party of portfolio. Now you have to cut that,
cut back a little bit on the portfolio.

Speaker 3 (52:59):
Yeah, yeah, yeah, we constantly talked about that. I mean,
the markets are hitting all the time highs. It's not
a bad thing to take off some profits when you can. Obviously,
if you have a tax Bible account, you want to
look into what tax lot to buy or to I
mean to sell. But there's stocks don't go to the moon.
They can eventually cut back down to Earth.

Speaker 2 (53:19):
How long? You don't know?

Speaker 3 (53:21):
Are they very You got to look at it. If
they're very overvalued too. If they're not, then yeah, that's
a better company, like and Vidia has profits. Some of
these companies, like last year was a good example, a
super microcomputer went to nine hundred dollars a share over
a thousand dollars a share because it was running up
with Nvidia. But then it comes out they don't really
make money. So then all of a sudden, that's just
tanked and tank and tank and tank, and you lost.

Speaker 4 (53:41):
Well that was the Hindenburg too, Yeah, Hindenberg and accounting irregular.

Speaker 3 (53:45):
Yeah, Hindenburg is that research from that shorts companies and
exactly that's why they.

Speaker 1 (53:49):
Now they just got it. They got an upgrade and
the thing has come all the way back to forty
forty someone dollars.

Speaker 2 (53:56):
Wow.

Speaker 4 (53:56):
Wow, Well, you know, this is the month of love.
February is the month of level, right in the month
of love. Where on Valentine's Day weekend, so I got
a little love from a client that I got to
pass on to you guys.

Speaker 5 (54:06):
I thought this was really nice. She told me last week.

Speaker 4 (54:10):
She said, you know, before coming to you guys, I
asked ten of my friends to write down the three
best financial advisors in Tucson, ten of them, she said,
And I got back the list from all ten of
my friends, and when I saw Greenberg Financial on all ten.

Speaker 1 (54:29):
Lists, get out of here.

Speaker 5 (54:30):
Yeah, she did.

Speaker 4 (54:31):
Really all ten out of ten. We were in the
top three.

Speaker 1 (54:34):
And she said, I.

Speaker 5 (54:35):
Knew where I needed to go.

Speaker 1 (54:36):
That's pretty cool, very cool.

Speaker 5 (54:38):
I thought that was some love in the Love.

Speaker 1 (54:40):
Month, right, Yeah, that's that's cool. Well, I'll tell you
the other day too. You know, I like to always
talk to some of the clients when they're just signing
up and what they like and stuff. And one of
the things that you and I Dave have emphasized for
a whole careers is customer service totally right. One of
the things that I always talk about on the radio

(55:00):
that when you call, you're going to get a real person.
If it's your in market hours okay, so even before
market house, but basically six point thirty, when you're around
to three to four o'clock in the afternoon, they're going
to get somebody and we're going to pick up the
phone and we're going to talk to them. We're going
to try to help them. They cannot believe that every
time they call they get someone that picks up the

(55:21):
phone within three or four times, usually on the first
and second rink. Yeah, and they said that was so impressive.
And then every time they said, we're able to resolve
the question, answer the question, move on, and then they
have to worry about it again. And I said, and
I've always said this customer service is cheap, but when
you do it wrong, it's very expensive.

Speaker 5 (55:43):
I say, that's a great way to say it.

Speaker 4 (55:45):
And there's a lot of we understand that there are
a lot of people providing financial services in Tucson. We'd
like to believe that nobody gives service better than ours.
There are people that give great service out there, meaning
my friends are in the business give great service. We'd
like to think nobody gives a better service than we.

Speaker 1 (56:04):
Do, especially as a company, and teach young people too.

Speaker 3 (56:07):
Yeah, And I mean one of the services we really
dove into in the last four years is financial planning. Obviously,
for thirty five years been money managers. We started doing
the financial plan and we've seen just how beneficial it
can be and.

Speaker 2 (56:19):
That we do it with every client now.

Speaker 3 (56:21):
And we have current clients who've been here for ten, fifteen,
twenty years who come back in and create their plan.
Who before just gave the money to manage and all that,
but it really becomes a holistic part and it's been
a great addition to the firm of what we've been doing.
Because we are the money managers, like I always say,
that's our bread and butter, that's what we like to do.
We are the ones that invest the money. We don't
farm it out. We just we do it because that's

(56:43):
what we do. But we've added the financial planning aspect
to it, and that brings in a lot of security
in the sense of you start with the financial plan process,
you build that out. You have the goals, the objectives,
the timelines, what you need in retirement, how much money
do you need, a bridge, a gap for income, How
do we do that all that stuff, What is your
risk tolerance?

Speaker 2 (57:03):
We do that there.

Speaker 3 (57:04):
Then once the plan implementation comes into play, where we
actually open the account and invest the money, those clients
that go through that whole process, which sometimes it can take,
I mean it goes anywhere from two weeks to six months,
depending on the client, they're much less scared when we
see drops like we did with the Deep Seek with
the last August drops. It's much less fear because they're

(57:24):
more confident in what they're doing in the markets, because
they sit there and take the time for however many
meetings it is to make sure they know what's going on,
how we would invest their money. They're knowledgeable at what's
going on with what we do, what their plan is,
they're comfortable with it, and we've answered all the questions
leading up to the actual implementation of the plan, which
is the last step in the no ongo and monitor.

Speaker 1 (57:45):
Obviously, well, it's exactly what you say in Dylan. You're
sitting there and you're doing a financial plan, asking all
the questions. Not only do you get to know how
they look at things as they write down from a
risk perspective perspective, but as you talk to them for
a couple hours over time, you get to really know
how they react to things going up and down. You

(58:06):
find out what they like and didn't like. You find
out what they want to do with their money. You
find out who they are and what they are. And
then when we take it, we're not just giving it
to somebody else that doesn't care about anything about making
the money. We're investing their money with the criteria that
we know what these people are because people can say
I'm aggressive, and somebody's really aggressive, and somebody says they're aggressive,

(58:26):
and that just means they want some of those stocks
in their portfolio.

Speaker 4 (58:29):
Why everybody wants to be one hundred percent invested when
the market's going up cash when it's going down.

Speaker 1 (58:35):
Welltain there's instruments now that we're able to use. But
here's the even better part. Since we manage the money ourselves,
we're able to use what institutions do. Most advisors don't
have the ability to know how, or the knowledge or
the experience to be able to know how to mitigate risk.
It's all in and it's just percentages. We can mitigate risks,

(58:56):
so we don't have to take taxis bikes going ahead
and doing the inverse of certain either individual stocks or
the overall market or whatever it is. Right now, we
can even do the inverse in bonds to protect our
bond portfolio. There's so many things we can do that
we know we're actually managing it and not just saying, hey,
don't worry, sixty forty sit there and everything'll be fine.

(59:18):
Because as we know, and we've taught, are being mentor
to the younger guys in office, don't think like a
thirty or forty year old or even a twenty year old.
You need to think like you're sixty, seventy eighty years
old when you're talking to somebody. Our mentality or the
way we invest is so different than when we were younger.

Speaker 3 (59:37):
Yeah, I mean right now to what we've been doing
a lot about is it's an income portfolio that we
have because a lot of people obviously we do with
a lot of people going into retirement getting ready for retirement.
How are they going to provide a check from their savings.
They're no longer in a check from their company. They
got to get their own check from their retirement plan
that they saved up for for their entire career.

Speaker 2 (59:58):
How do they do that?

Speaker 3 (59:59):
We set up a plan where we build what through
bonds value to us value companies a little bit of
growth in all that different allocation and trying to get
you generate the income. Right now, it's working really well
because of where the interest rate environment is, so it's
a good thing to take advantage of. We've had a
lot of clients take advantage of this income model because
we're able to put away their annual income that they need,

(01:00:20):
whatever it might be, whatever the.

Speaker 2 (01:00:22):
Proportion is, for about five years so we know.

Speaker 3 (01:00:25):
So say we do see that turndown in this year
twenty twenty five turns out to be a bad year.
We don't have to sell on twelve thirty one of
this year.

Speaker 2 (01:00:33):
We don't have to sell.

Speaker 3 (01:00:33):
Equity holdings to generate cash to pay for twenty twenty
six expenses. You have that in bonds that are going
to mature at the end of the year. Already we
set that up, and we set this up for five
year beerd because that's what you got to do, is
think for the future, and that's how you set up
a retirement plan. And that's how it gives people, especially
new people coming straight into retirement out of working, who

(01:00:54):
have a little nerves of how am I gonna get
my income? This helps them, like it helps them ease
into retirement knowing, Okay, I do have some money for
the next five years, regardless of what the markets do,
and I'll get able to get on my feet with
the new way of life.

Speaker 2 (01:01:10):
In a sense.

Speaker 4 (01:01:11):
One of the buzzwords I hear a lot about these
days's roth conversions. For whatever reason, people are talking about
it a lot, and.

Speaker 3 (01:01:17):
Taxes are low because if Trump wasn't elected, it was
because sure that's sunset.

Speaker 4 (01:01:22):
You've got a fairly low tax right, But you've got
to be very careful with Roth conversions and not only
the taxes, but what impact it has on your Medicare correct,
and you deal with that in these financial planning sessions.
We do whether or not it makes sense to do,
and if it makes sense to do a Roth conversion,
you'll say, yes, you should do a Roth conversion this year,
next year, in the following year, and then that's it.

Speaker 3 (01:01:43):
Yeah, our program, our technology can give you an idea
if it's even worth looking into. Then if it is,
we got to look at the other aspects, Like you said,
I mean, are they going to take out money if
they're sixty three or sixty four, that's going to affect
their medicare?

Speaker 2 (01:01:56):
For sure?

Speaker 3 (01:01:56):
Are they sixty and they retire, that's not going to
affect the medicare because Medicare there's only a two year
look back, So maybe sixty two to sixty sixty to
sixty two those three years, you take.

Speaker 2 (01:02:05):
More of your roth conversion. If that's something you're.

Speaker 5 (01:02:07):
Doing, you talk somebody else is talking about.

Speaker 3 (01:02:09):
Yeah, and I mean, and like speaking on that topic too,
is roth conversions are a lot of the time they're
for your heirs, especially if you're getting closer to rmd AH,
you're not going to really see much of the benefit.

Speaker 2 (01:02:21):
But you're if you're lower.

Speaker 3 (01:02:22):
If you say you're retiring earlier, you're trying to do
roth conversions in your late fifties early sixties, there is
benefit to you in the sense that your rmds could
be much lower when you hit them at age seventy five.
But other than that, it's a lot of it's for
your heirs and they won't have to deal with taxes
because a lot of them will be in their forty fifties,
working age, making the most money they're gonna be making.
Most likely they're gonna have to all of a sudden
ten years to take out this money from your ira

(01:02:44):
they inherited. It helps them because they'll be taking it
out from a roth ira, which is obviously it's tax free.

Speaker 4 (01:02:50):
I think roth conversions in living trust are two of
those things where there is no benefit to the person doing.

Speaker 3 (01:02:55):
Them well, Like I was saying, though there is a benefit,
there can be a benefit for roth conversions if you
do you were young, if you're able to do it
in your lafe fifties, because we have different federal employees retire,
they can do stuff a little differently. If you can
do the rock conversion in your fifties or early sixties,
there is a possibility you see benefits because your arm
ds don't skyrocket.

Speaker 5 (01:03:14):
You're primarily doing it for your errors.

Speaker 1 (01:03:16):
No, no, no, all the time. No no, if you
got if you got five or ten years, especially if
for some reason you catch you when the markets down.
Yeah right, yeah, okay, you moved the money over. I
remember doing this. Uh uh in twenty twenty when the
market fell there people, hey, what we should do? We
moved it from there into the roughth iray and boom.
Everything then started growing.

Speaker 5 (01:03:38):
Went off though.

Speaker 4 (01:03:39):
That's one of the two biggest market drops in history.

Speaker 1 (01:03:41):
Yeah, but it happened.

Speaker 5 (01:03:42):
It happened.

Speaker 1 (01:03:43):
Okay, pretty rare and you get more. But but but
the people, uh, now they're making all this money. Now
they're not making any money because now they retire it
they're in a lower tax bracket. No, nothing wrong with
doing it, because now it all grows for you for
the next five to ten years because you're not going
to get out of your of your of your retirement account,

(01:04:03):
and now all that money comes to you down the
world tax free, so you get all that growth.

Speaker 4 (01:04:06):
Anything you can take out of an IRA without additional taxation.

Speaker 1 (01:04:09):
You need to do exactly.

Speaker 3 (01:04:11):
Yeah, But like we're all saying too, is roth conversions
can be beneficial for you, for your airs, whatever you.

Speaker 1 (01:04:15):
Want to do.

Speaker 2 (01:04:16):
It's something to look at as part of the plan.

Speaker 3 (01:04:18):
And that's why if that's something that'd interest you, you're
been having questions about it, give us a call and
we'd be happy to sit down and go through all
those scenarios.

Speaker 4 (01:04:25):
Can talk a little bit about Tesla, Tesla, Tesla, Yeah,
Tesla stock double. It doubled after the election on the
belief that Trump's going to do something to repay Musk
for his support. They've given back about seventy percent of
that gain as impatient traders are going, well, maybe he's
not going to do anything, maybe he's gonna take away
the tax credits, and but you know, people keep thinking.

(01:04:45):
Stock pop five percent on Wednesday that appeared to be
like a technical bounce anything Dane it.

Speaker 5 (01:04:51):
Had gotten sold or sold, Yes, it definitely did.

Speaker 4 (01:04:54):
It is a technical bounce, even though by D said
the self driving for BYD that's the Chinese and one
of Tesla's big competitors in China, their self driving is
going to be free. Well, Tesla recently dropped that from
one hundred and ninety nine a month to ninety nine
a month, and I'm guessing it's going to be a commodity.
I think Tesla is going to have it free. However,

(01:05:17):
this is this is interesting. Here's the interesting part.

Speaker 5 (01:05:20):
Fear of the.

Speaker 4 (01:05:21):
Tax credit being repealed under Trump, right prompted consumers to
buy sixty five thousand Tesla in December. That's their biggest
sales month ever and more than eleven It's more than
the next eleven competitors combined.

Speaker 1 (01:05:36):
I would love to see a cross section of who
bought it. Was it the left or the right? Yeah, okay,
because before before think about it, before the election, right,
the right didn't buy it as much as the left.
You know, let's say, oh, it's electric, it's saving, it's
the climate, it's helping. And I think after the election,
oh a muskets with Trump. It's cool. Now let's go

(01:05:58):
buy Tesla's.

Speaker 4 (01:05:59):
Well, I've talked about this, how how you would expect
that the majority of Keeshla buyers would be on the left, right, right,
And now they're hating on Munk.

Speaker 5 (01:06:07):
I know where did they go?

Speaker 4 (01:06:09):
And yet here they have a month that's double any
other month they've ever had in history.

Speaker 1 (01:06:13):
Interesting, Well, let's talk about that too. You know, this
is where there's so much information that just gets skewed. Okay,
you heard about you know, Musk and and and Trump
and all this stuff, right, and you see the four
hundred million dollar contract for armored vehicles for the government,
armored trucks for the government. Right, and of course everybody said,

(01:06:35):
oh j he you know Muscot, that Trump is in
blah blah blah. Well people didn't realize that's a that
was a contract done during the Biden administration with Elon Musk.
But now they try to put it out there that
is putting put put together with with Musk and Trump,
you know what I mean. And it's less. That's the stuff.
People got to just stop getting and get over it

(01:06:57):
and realize he has contracts, he has four hundred billion
dollars worth of money net worth. He doesn't need to
be doing this. We should be thanking him for looking
into these things. That he's doing right now, and stop
complaining all the time. Once we see what we have
to do, then we figure out how to do it.

Speaker 5 (01:07:17):
I agree with you.

Speaker 4 (01:07:18):
One of the smartest people on the planet is got
his nose in our government spending. That's not a bad thing, right.

Speaker 1 (01:07:25):
Because from his point of view, it's like, what do
I care. I got so much money, I can go
spend as much as I want. What do I care?
I'm fine the guy. If us goes down, I'm fine.
I'll live the rest of my life better than everybody
if I wanted to.

Speaker 5 (01:07:36):
Yah. Yeah.

Speaker 4 (01:07:37):
One a little aside to that Tesla story. In twenty
twenty four, the Tesla Model Why became the best selling
vehicle in the world, not the best selling electric vehicle
in the world, the best selling vehicle in the world,
which is a first for an all electric car. Well wow,
And of course we've talked about this before.

Speaker 5 (01:07:57):
It was number one.

Speaker 4 (01:07:58):
It's the only car made the United States, Tesla Model
Y that's the suv uh. It also is the number
one safety rated car in the EU. They've got new
safety standards. They ran all the cars you would test.
The number one safest car in the world was the
Teslia Model Y. Why would you buy it because you

(01:08:20):
know why, don't like cric car.

Speaker 5 (01:08:21):
Okay, I get that, Well, can't be you're going to
get better for your only car.

Speaker 1 (01:08:25):
But here's going to be the best thing. They're going
to get better because competition is going to make them
get better and it's not going to go see the
other thing, and then people are going to say, Okay,
I want electric, I want gas, I want this, I
want that. Talking about cars, you see the the Ford
F one fifty is no longer the number one car
out there.

Speaker 2 (01:08:41):
It's Toyota's number one.

Speaker 1 (01:08:42):
Toyota four is what it was. A sold more vehicles
than the F one fifty.

Speaker 4 (01:08:49):
Well, that's not even the same class.

Speaker 5 (01:08:51):
That's about it.

Speaker 1 (01:08:52):
I'm just telling you the number one vehicle was the
F one fifty in the US.

Speaker 5 (01:08:56):
Yes, okay, so that the globally we know it was
the Teslia Model Y.

Speaker 1 (01:09:00):
Okay, that's what you're saying. On that I'm talking about.

Speaker 2 (01:09:03):
We're talking about that. He's talking about us.

Speaker 1 (01:09:05):
I'm talking about the switch, the change and what's the
mentality of what's going on versus pickups?

Speaker 2 (01:09:11):
Well, no, just Toyota versus Ford.

Speaker 3 (01:09:13):
Toyota has now become the number one US car manufacturer
over Ford.

Speaker 5 (01:09:19):
I know they're the number one in the world.

Speaker 2 (01:09:22):
Well they're the largest, but they finally took over us.

Speaker 1 (01:09:24):
They took over and when are they the hybrid the
left highbrids? What are they now?

Speaker 5 (01:09:31):
They're going to all electric.

Speaker 1 (01:09:32):
Toyota the new CEO.

Speaker 5 (01:09:38):
They just last week. You were I don't think you
were here.

Speaker 4 (01:09:40):
They bought a Chinese they merged with a Chinese company
and not merged, had a partnership with a Chinese company
to build an all electric car to compete in China,
which is really Chinese all in on electric.

Speaker 1 (01:09:51):
I mean I can see that because it'll help them,
it'll help them.

Speaker 5 (01:09:54):
Yeah, they're the environment.

Speaker 3 (01:09:56):
We have to be all in on electric infrastructure if
we're going to be all in all elect cars. And
that's why that whole thing with the Biden administration, whereas
mandated that everything had to be electric by like twenty thirty,
kept getting pushed back because they realized it won't work
if you don't have electric charging stations like gas stations
all over the country.

Speaker 4 (01:10:13):
Well, and has done a pretty good job of that,
and almost all of the other car companies now have
gotten on board. And they give a Tesla adapter if
we I said.

Speaker 1 (01:10:22):
Yeah, but I'm talking about it about you being able
to go cross country with it, and just I guess
you have destruction you don't.

Speaker 3 (01:10:28):
Yeah, like right now, gas station, you have a speedway
on in the north corner, you have a Valai on
the southeast corner. You don't have electric chargers like that.
So say electric charger on the left side is out.
You don't just have an electric charging station on the
right side of the street. You have gas stations like that,
but not electric charging stations.

Speaker 4 (01:10:44):
Client took his Tesla Model Y from Tucson to Miami
and back and I said, and I said to him, huh, yeah,
I said to them. I said to him, I said,
wasn't range or problem? And he said, you know, I
learned early in the trip that my battery range was
greater than my bladder range. But there are there are
testlo charging stations all over the country. There's very few

(01:11:05):
places you can't go.

Speaker 1 (01:11:06):
And then when you have to set up that is
convenient gas station day, you can fight all day long
for Tesla. The infrastructure is not there. They had all
that money that they haven't built them out yet.

Speaker 5 (01:11:17):
You don't want to spend the time. They the infrastructure not.

Speaker 1 (01:11:21):
The way it need be. You gotta stop, you gotta wait.
They got to be faster. It's like phone charging. Yeah,
you have the slow the slow phone charging that takes
two to three hours, and then you got the fast
charging that takes twenty minutes.

Speaker 3 (01:11:34):
You have to go to the exact same charger on
the way to send La every time. That's not great
infrastructure for charging electric I don't have to go to
the same gas station every time going to California.

Speaker 1 (01:11:43):
All right, I hope you find this exciting. We will
always tell you the way we all feel. We all
have our own opinions. It's the Money Matter Show. We'll
be right back, and I can't tell you how much
we appreciate that you listen. Welcome back, everybody. This is
the Money Matter Show. This is Dean Greenberg, Dave Sherwood,
and Dylan Greenberg. We're here to try to bring you

(01:12:05):
the information that we think is pertin to what is
actually happening with the markets and investments and all the
things that we want to do.

Speaker 4 (01:12:14):
What's your observation on last week, which was interesting, an
interesting week, all bad news and the Martin go down.

Speaker 1 (01:12:20):
Yeah, and you know what I mean what it's saying
to me. Last week you had inflation, have you had
the PPI, the CPI numbers, you had TIFFs, you had
retail sales way up. You know, it's one of these
things like this money on the sidelines. People want to
buy until we sell off two three days in a row.

(01:12:40):
I don't think people are gonna get scared every day
for the last I don't know, thirty sixty days. We
sold off the second day to buy it, okay, and
we've had some big sell offs there, especially on those Mondays,
So there's money to be made. It looks like we
want to go higher here when I get excited to
jump in, No, I'm trying to look for oppetun unities,

(01:13:01):
you know, Like I said, you know Microsoft has been
down for months. You know, it's kind of building a
base and maybe you know you want quality, you know,
you want to look for some stocks that got hit.
I don't like Meta's gone up and making new hives.
I'm not sure I'm chasing Meta, you know what I mean.
Indexes are making new highs. I don't know if I'm
chasing indexes. It might have no money in. Maybe I
start dollar cost savaging in. But it's very difficult to

(01:13:23):
find stuff right now to say, hey, I want to
get in, because at any moment, something can turn and
say the tarists aren't there. Well, what's gonna happen over
you know, over in Israel here? You know, you know,
obviously we do the show on Friday, so we don't
know what's gonna happen if they don't release the hostages
tomorrow on Saturday, they don't release those hostages, when all

(01:13:46):
hell's gonna break loose? What does that mean? You know?
If it means that we are going to take the
force that I read that into between Hamas and Iran.
Guess what that could hurt the markets on Tuesday.

Speaker 2 (01:14:00):
Don't know.

Speaker 1 (01:14:00):
I can't tell you for sure. But if it doesn't,
we're gonna keep creeping up. There's nothing that's hit us.
And all this news you know about they're so used
to that. Okay, we're not gonna low interest rates right now? Well,
we don't low interest rates. Where's the effect gonna be?
But the one thing people don't take it into account.
People that have masked a lot of money. Okay, we

(01:14:23):
only had less than one percent in the money market
safe money, so people had to take risks. They don't
have to take risks. Now they get four and a
half or five percent. It's there, they can get it.
If we low interstrates, how are the retired people going
to make up the difference in their income without having
to take a risk.

Speaker 5 (01:14:38):
Yeah.

Speaker 4 (01:14:38):
My brother's retired multimillionaire in Minneapolis, and he said, the
greatest thing's ever happened.

Speaker 5 (01:14:42):
You're triging interest rates.

Speaker 4 (01:14:45):
They can actually go to the bank and buy CDs
and treasuries. And he's like, you're just fine, give me
four and a half five percent. I'm doing just fine.

Speaker 1 (01:14:52):
Yeah, but if it goes down to two percent, yeah.

Speaker 4 (01:14:57):
He struggled because shortly after we retired, interestrate much as zero. Yeah,
and here's money. No matter how much money you have,
if it's only zero, it isn't much. I agree, zero
times a million or zero times ten millions, it's still zero, right, Right?
How about Apple?

Speaker 1 (01:15:12):
You know it's funny. You know everyone wants to beat
up Apple. Get out of Apple. Don't want to be
an Apple. You know you get downgrades on Apple. I've
heard this for twenty years, Dave, twenty years, don't you
got to sell Apple. Apples over done. They you're not
going to come out with new products. But Apple keeps
coming up with new products. It is so ingrained in
people that they need Apple. So I broke down. I
bought an Apple. You've been a Samsung guy. I've been

(01:15:34):
Samsung because it's easier. Do I like the Apple?

Speaker 2 (01:15:36):
No?

Speaker 1 (01:15:36):
I want to throw it against the wall every freaking day.
But once I start learning a little bit, a little
bit more what I do learn about the Apple new Apple.
It's very sensitive. Every time I touch something, it moves around,
goes around, can't get rid of something. And the microphone
it's so easy to hit the microphone that I don't
even realize it. I wanted, you know, and get done

(01:15:59):
and put the phone down. I didn't realize hit the microphone.
And there's a whole everything I'm saying is on text.

Speaker 4 (01:16:04):
Did you start on the Samsung thing though, because you
were in going to Europe and needed something with AT
and T or I've.

Speaker 1 (01:16:10):
Always had AT and No. I've been on Samsung because
I understand that compute. I never had an Apple computer.

Speaker 5 (01:16:15):
I started with that. Huh. Yeah.

Speaker 4 (01:16:17):
So and even though your whole family has Apple, Yeah.

Speaker 3 (01:16:19):
You know, very hesitant to get an iPhone, and now
he's I think, second guessing it.

Speaker 1 (01:16:24):
Yeah, well I'm getting there. Before when I first got it,
I was ninety percent shows going to break the phone
and get a new one. But then now and down
to about fifty to fifty, so.

Speaker 4 (01:16:35):
You get you're working your way into it. I've had
iPhone for forever. I think it's just very.

Speaker 1 (01:16:41):
Co I know, if you have a Tesla, you get
an iPhone.

Speaker 4 (01:16:43):
But you know, the stock rolls on Tuesday on news
that they've partnered with Ali Baba for Ai and China.

Speaker 5 (01:16:50):
I think that's just brilliant. Yeah.

Speaker 1 (01:16:52):
Ali Baba's really done well lately. It's gone from the
seventies all the way up to what one twenty something now.

Speaker 5 (01:16:57):
Come off of the dead. Yeah, but that's what a
great combination.

Speaker 1 (01:17:01):
And I'm a little upset with myself. I bought it
when it was down in the eighties, and then once
it broke a hundred, I took my profit. And and
the reason I did is because all the China, all
the chadow China, China, China, China, China, you don't know anything.
And now I look back in the you know, an
idiot deem because you should have kept it.

Speaker 4 (01:17:17):
Well, that's just coincidental. But we've we've said before we
don't own any Chinese stocks in the office pat of transparency.
We just don't really know what's going on at this
deep Seek was a great example the Chinese startups that
comes out and says, oh, we could.

Speaker 5 (01:17:31):
Do AI with old chips.

Speaker 2 (01:17:32):
And yeah, and that was really the last few years.

Speaker 3 (01:17:34):
We just got tired of that roller coaster if not
knowing exactly what's going on, even with a company like Win.
We had Win for a lot of clients and it's
an American company and it's still didn't know what's going on.

Speaker 1 (01:17:45):
A Mackay because of yeah Macaw, I mean it had Macaw.

Speaker 3 (01:17:49):
It signed a deal where no new casino could be
built in mass the largest casino area in the world.
Yet every time bad news came out about China, it
hit my cow and a hit Win, and we just
got tired of it.

Speaker 2 (01:18:03):
So we made some money and got out.

Speaker 4 (01:18:04):
I don't think China's doing that well, Dean. We were
talking about about the Chinese economy. The Chinese stock markets
up twenty three percent, Yeah, up five consecutive week, right,
and then we talked on the show a few weeks
ago about green shoots, an I was seeing green shoots
there and maybe that's what's happening. Maybe this is the

(01:18:25):
early stage of them coming live.

Speaker 1 (01:18:27):
Is this I mean, you know, when you look at
the bigger picture, is the market anticipating peace in the
in the world.

Speaker 5 (01:18:34):
You would certainly think so, okay, well that's your thought.

Speaker 3 (01:18:37):
After last week's conversation. Yeah, and news out with Trump
talking to Putin trying to finish that war.

Speaker 1 (01:18:43):
Putin and and she you know, you know, maybe maybe
you know, China doesn't invade Taiwan. Now, you know, with
the what's going on, everyone gets stronger. But we get
we get piece in the Middle East, and you know,
I've said this many times that Israel is going to
bring the peace there. Okay, and then you get then
the piece with you with Russia is much more with Ukraine,

(01:19:04):
especially now we're gonna make a deal with India and
Indy's gonna buy our oil and gas, not all of
Russia's oil and gas. Okay. So now you start seeing
Russia say, you know, we got to do something here.
I mean, you can say what you want about Trump,
his people, he has advising him understand how you put

(01:19:26):
maximum pressure and change things by just changing a few
things on deals.

Speaker 3 (01:19:30):
He's had some contradicting things though, in the sense of
military spending. Did you see last week that it came
out that he said he wants to talk to Putin
and Chee and say, we don't want to have so
much spending go towards our military.

Speaker 1 (01:19:42):
The nucular he wants to cut down on nuclear.

Speaker 3 (01:19:44):
Yeah, so he says he wants to cut out like
he says, there's no reason we should be spending a
trillion dollars on our military. So defense docks got hit hard. Lackey,
Martin Ratheon, they got hit hard last week because of
this news on late Thursday. But he saw he wants
to talk to Putin and She about it. So, I mean,
if you can get these obviously the Russia, China US
to spend less on military spending, you think, okay, maybe

(01:20:06):
the world isn't still trying to get into wars and
do all that stuff as much as the idea. But
he's also said before we want to have the best
military in the world and all this stuff. So it's
a little contradicting lately.

Speaker 1 (01:20:17):
Well, us having the best military means things we have
that other people don't, but we don't know everything that either,
saying yeah.

Speaker 4 (01:20:25):
But I think he's been that way here, right, I
mean we talked about the tariff. Yeah, just the threat
of what he the uncertainty of what he might do,
like with Putin where he said, we can do this
easy way or we can do this the hard way. Yeah,
what's the hard way mean?

Speaker 2 (01:20:39):
But this goes in line.

Speaker 3 (01:20:40):
But this does go in line with the whole dose
corner cutting spending in the government. He's trying to cut
military spending. He thinks there's too much in there. So
at least he's staying consistent with that where I want
to cut fat from the government and just calm down
the spending.

Speaker 2 (01:20:53):
Well, he wants to go with every aspect, every corner
of the government.

Speaker 1 (01:20:56):
Now it's going to be very interesting when it goes
into the Pentagon. But he's looking for the things that
are considered fraud fraudunent, things that we don't need. Let's
pay for the things we need. It's no different than
your own household. There's things you want and things you need.
You need to pay for the things that you need
first before you buy the things you want exactly. Okay,
you need a car, you don't need a Mercedes, okay,

(01:21:19):
but if you do, if you are able to get
the Mercedes after you get the things you need, then
that's fine, you know. And that's the same thing when
he looks at what's going on right now, there is
so much money that I mean, they're saying, well, how
do you know that this fraud and stuff? That's what
they keep saying. How do you know this fraud?

Speaker 2 (01:21:38):
How do you know?

Speaker 1 (01:21:38):
They're not just saying it? Just go look on the pages,
go to the website of some of these federal agencies.
When they talk about how much fraud they have. Medicaid knows,
every politician knows for years fifty to one hundred billion
dollars a year in Medicaid fraud. What has anyone done
about it? Nothing?

Speaker 4 (01:22:01):
And one of the big career opportunities in this country
is getting on in the disability right right, the government disability,
and everybodys trying to get in government disability.

Speaker 5 (01:22:10):
Not everybody, but a large a.

Speaker 1 (01:22:12):
Lot of put my back my head by this, by that,
you know what, able bodied people better start realizing they're
gonna have to work. They can't stay home and go
collect a government paycheck and go do something else. You're
going to have to work. And those that work are
going to go to the office because they want to work.
They think that you need thousands and thousands of people.
You can lay off thousands of people when you have

(01:22:34):
millions of people and still be efficient. Sure, I love
the idea. Department of Education, how tall? How long have
I talked to you about how bad education is in Arizona?

Speaker 5 (01:22:45):
Terrible?

Speaker 1 (01:22:45):
We've been what forty six, forty seven, forty eighth for
how long? By private schools for exactly? So go ahead
and give it to the states. And now the people
actually have a say in their votes on how they
want education run. And then they don't do a good job.
Get rid of them.

Speaker 4 (01:23:02):
It's a it's a radical idea, but I love radical
ideas with solutions like getting rid of the penny.

Speaker 1 (01:23:10):
All right, we'll be right back. It's Dylan, it's Dave,
and it's Dean on the money by the show. Can't
tell you how much you appreciate you all listening.

Speaker 2 (01:23:19):
We're gonna be quick a minute.

Speaker 5 (01:23:21):
Keep talking.

Speaker 1 (01:23:22):
Oh wow, I looked at them. I looked at the
rock number. What are you doing log number?

Speaker 4 (01:23:27):
Sorry, guys, we're getting rid of the penny. So Trump said,
this your wasteful government spenning. It's not clear whether he
has the authority to stop the manufacture of it, because
according to the US Constitution, coin each power, as recognized
by the Supreme Court is exclusive to Congress.

Speaker 3 (01:23:45):
The nickel and the penny both cost more to create
than actually worked.

Speaker 1 (01:23:49):
Okay, but he could come up with the idea, Dave,
That's the thing.

Speaker 2 (01:23:52):
It was not him coming up with that idea. He've
been talking about.

Speaker 4 (01:23:54):
Our federal federal assas the Treasury Secretary can mint and
issue coins is necessary, So which one is it?

Speaker 1 (01:24:01):
Yeah, that's what they're doing. They're going right down there,
right down the low, and they're taking their side and
let the courts that side afterwards. It's amazing. Breakfast, how
fast they're going right break net speed. All right? Could
I now say we'll be right back and I appreciate everybody.
Now I can tell you, thank you everybody. We appreciate
you're listening to The Money Matter Show with Dave and

(01:24:22):
Dylan and Dean. Welcome back everybody, last segment of The
Money Matter Show. We appreciate you all. Listening. We let
Dave go a little earlier handle a client. We got
Diylan here with us and myself and we got guess who,
mister Jonathan, our in house attorney estate planner.

Speaker 5 (01:24:41):
Good job, well, thank you very much, Dean. And happy
President's Day.

Speaker 1 (01:24:45):
And nice I forgot we had a three day weekend.
I realized that yesterday. It was so nice.

Speaker 5 (01:24:52):
It's I'm looking forward to the weekend.

Speaker 1 (01:24:54):
I don't think. I don't know the last time we
had five days, it seems like, so we'll coming to
that point now. I mean, I know you do your
own show. Also, in fact, my wife Mail is the
host of your show. You know, what's the name of
the show, The.

Speaker 6 (01:25:10):
Money Matters Show. But it's I believe Mel came up
with it. I think it was a good one. When
there's a will, there's a way.

Speaker 1 (01:25:19):
I like it. But it's hurt on Saturdays, and you
get some good advice. So some of the stuff that
they might have not heard this week to outlet's update them.

Speaker 5 (01:25:29):
So you know, there's a lot of things we talk about.

Speaker 6 (01:25:31):
We talk about estate planning, we talk about probate, we
talk about beneficiary designations.

Speaker 5 (01:25:37):
I'm an open book.

Speaker 6 (01:25:38):
People reach out all the time, ask me questions and
we try to answer those on the radio. Some of
their best segments are usually some of my personal talk
about my rental properties, if you have been keeping up
on my Saturday mornings. But the main aspect of our
discussions are estate planning and creations of trust and how
to keep costs down on the back end, how to

(01:26:00):
to make sure everything is given to your beneficiaries the
way you want to give them, whether or not there's.

Speaker 5 (01:26:07):
Kids with spending issues, drug issues.

Speaker 6 (01:26:11):
If we have to do special needs trusts, sometimes we
consider supplemental Needs trust and special needs trust for elder
adults because they're under sixty five, but there's a possibility
that they may end up going into a nursing home.

Speaker 1 (01:26:25):
So I got a question for you. Do you advise
your clients once they finish their trust and the will
to be transparent with their children and their family or
do you basically tell them they should wait and just
let them be surprised.

Speaker 5 (01:26:41):
That's a judgment call.

Speaker 1 (01:26:43):
What do you think. I'm not asking judgment, I'm asking
what do you think.

Speaker 6 (01:26:47):
I will take their temperature on their children. I will
take their temperature on what their relationship is with their children.
But nine out of ten times I tell them, don't
let the beneficiaries know they're doing anything, whether it's children
or whether it's a cousin or niece or nephew, don't
tell them that they're olde assets. Because if you tell
cousin Tony that he's due fifty percent and then ten

(01:27:10):
years from now you take cousin Tony out of that
trust or out of that will well, Cousin Tony's expected
inherence and yes.

Speaker 1 (01:27:17):
Away, well, but then you would change if you're transparent
one time, you got to be transparent another.

Speaker 5 (01:27:21):
Time Cousin Tony's not going to want to hear those news.

Speaker 1 (01:27:25):
Well, there's a reason cousin Tony was cut out. Maybe okay,
maybe you know the drugs, the alcohol, who knows what
it is, the wife beating that's going to jail. You
don't know what it is. But you tell them, hey, Tony,
you didn't you didn't live up to what you're supposed to.

Speaker 6 (01:27:40):
Be absolutely, or maybe Tony made a lot of money
and you know what, Cousin Tony doesn't need it, right,
But the fact that remains is that I don't like
telling beneficiaries, not a trustees or a different story. You
may want to tell somebody that they are a trustee
or they're a personal representative of a will or a
trust whatever beneficiaries.

Speaker 5 (01:27:57):
Like I said, judgment call.

Speaker 1 (01:27:59):
It is a judgment call. I totally agree with you.
I'm a big believer though, if you have the situation,
talk to people while you're alive, and especially your kids,
you know, and let them know what's going on, where
everything's at. I mean, that's the hardest thing. You know,
how many people just don't know where anything's at. Someone
passed away and you're I'm like, well, you're going to

(01:28:19):
get a taxi, go look at your tax return. You're
gonna find out where it is. And then the next
year you're gonna get stuff in the mail, and you
got to know where it is. Because it's people that
have stuff at mutual fun companies. They got stuff at
different different different LLC's. They don't even always know where
where this stuff is. So you got to come in.
But the way, I'm a big believer in teaching your

(01:28:41):
family not only what what what's going to happen, but
teach them how to invest the money, how to Like
I see too many times in my in my side
of it. The kids get the money and they don't
know what they do with it, and then they start
doing bad things with it, and then they lose it.
It's because they were giving it. They didn't know it.
And unfortunately, the worst case scenarios, I've seen people feel

(01:29:03):
guilty about it and actually blow through it and then
commit suicide. And that's horrible.

Speaker 6 (01:29:08):
Well, statistically, when it comes to a four oh one
K or an inherited IRA, what have you, they have
ten years to take that money out, now what to
do laws? However, statistically they take it out over a
three year period. These kids want that money now. They
want to what they want, whether it's one hundred thousand
dollars IRA four to one k or it's a couple
million dollars, right, and.

Speaker 1 (01:29:27):
If I and I like to tell them to teach
them good things like if they take the money, don't
pay off the credit card, pay off your mortgage, okay,
you know, pay off your call loans if you have them,
so that way you don't have to worry about those
payments and stuff like that. Don't go out and spend
it on something you don't need, all right, just just
because you want it, you know, I don't know.

Speaker 3 (01:29:45):
It's a tough your credit card, don't It's not a
bad thing to pay off a credit card when you
got a twenty nine percent interest. But if you're gonna
pay it off, don't rack up a credit card debt again.

Speaker 2 (01:29:53):
Yeah.

Speaker 1 (01:29:53):
Well, I've never seen somebody that continually has had credit
card debt that once it's paid off, doesn't rack it
up again.

Speaker 2 (01:30:00):
But it happens. But like I said, it's not a
bad thing to pay off.

Speaker 1 (01:30:03):
No, it's not, especially if they if they are in
it and they understand, and that's part of the deal.
You pay it off, stay off of it, pay it
off every month, and don't keep keeping going.

Speaker 3 (01:30:13):
Your whole thing is teach them while you're alive so
they know so they don't just get thrown into money
and don't know what to do it.

Speaker 5 (01:30:19):
It's like with my mortgage. I see it.

Speaker 6 (01:30:21):
It's sitting at two high to low three percent, and
I feel bad paying it because that is almost an
interest free loan due to inflation.

Speaker 1 (01:30:30):
I mean, what do you mean you feel bad? Pay
and you got to pay you mortgage otherwise you'd be
on the streets with your kids than I have, right,
So why do you I don't, okay, so don't feel bad.
Feel good. You got lucky too. Two and a half, Well,
it's no way two and a half. You weren't that
lucky two point a two point nine? Yeah, yeah, okay,
don't don't build yourself up at two and a half.
That's a big one to mortgage right today.

Speaker 5 (01:30:53):
I paid it on your new house.

Speaker 1 (01:30:55):
There's no way that's two and a half. You bought
it way too late. The house, yeah, okay, the one
you bought a whe ago.

Speaker 2 (01:31:01):
I could pay.

Speaker 5 (01:31:03):
The credit.

Speaker 6 (01:31:05):
So you know, when you pay your mortgage, you pay
it online. They say, do you want to put a
little bit extra escrow? Do you want to put a
little bit extra to principle?

Speaker 5 (01:31:11):
But zero?

Speaker 1 (01:31:11):
Never?

Speaker 5 (01:31:12):
Never?

Speaker 1 (01:31:12):
You know why if you stop paying more towards your
house and then you lose your job and you go
to your mortgage company say, hey, I lost my job.
You know all that extra money, could that pay for
the next few months? No, No, they don't give you
any benefit. They're just happy you paid more, so now
they lose less.

Speaker 2 (01:31:30):
Or you could take out a hardship loan, but then
you're paying interest on that. It doesn't help you too much.

Speaker 6 (01:31:34):
So at the end of the day, if you're if
you have a mortgage that's three percent, then the money
that you're putting towards it the extra money. If you
can't make more than three percent.

Speaker 1 (01:31:44):
Well you can in money markets today with four and
a half four and three quarters.

Speaker 3 (01:31:47):
Well so I I mean that's what we tell class
too when we do the whole financial plan, is what
is your mortgage rate? If it's lower than the money
market fund, no, we don't want you to pay off
your mortgage, even though you have the cash and do
it because you can keep paying, it's just gonna get in.

Speaker 2 (01:32:00):
It's going to earn more.

Speaker 1 (01:32:02):
So what are you hearing on the now? The trumpet
is in the cap on the tax is going to
be for inheritance.

Speaker 5 (01:32:09):
I haven't heard a thing.

Speaker 1 (01:32:10):
What do you think it's going to be.

Speaker 5 (01:32:11):
He's going to stay where it's at right now?

Speaker 1 (01:32:12):
Is it twelve million a person?

Speaker 5 (01:32:14):
It's thirteen It's about fourteen million dollars now. But I
haven't had a.

Speaker 1 (01:32:18):
Client twenty eight million aairel had to pay anything with.

Speaker 5 (01:32:21):
A married couple twenty eight million. Nothing boil it.

Speaker 1 (01:32:24):
What about people with you know, companies and all, they're
going to still let to sell them. You think sell them, well,
you know somebody gets it. It's worth fifteen sixteen million dollars.
And then on the money for the taxes.

Speaker 5 (01:32:35):
I mean, if they.

Speaker 6 (01:32:38):
So, what you're saying is that if they inherit a business, right,
that's over twelve million dollars. Now the eyres is are
going to make you sell the business.

Speaker 5 (01:32:45):
Right.

Speaker 6 (01:32:45):
So there's certain procedures that we can go through to
make sure that that business is not is not liquidated
just to satisfy some tax that for mom or dad.

Speaker 5 (01:32:53):
Right, So there's there's some things that do that happen.

Speaker 6 (01:32:56):
However, obviously, when mom and dad do pass and you
have over four million dollars, you're gonna want to file
what's called a seven oh six. That's my rule of thumb,
and a form seven oh six is in a state
tax return. Just because you file it doesn't mean you're
paying taxes. But the smart thing is to do is
if your mom, if your if mom or dad, if
anybody passes away with the unified credit where it's at now,

(01:33:18):
it's smart to file that form.

Speaker 1 (01:33:19):
So businesses have step up basis too, yes, they do,
so then they really wouldn't be that any taxes unless
it would be the second time.

Speaker 6 (01:33:25):
Right, if you have a multi business, multi multi person partnership,
So if there's four people, their portion of their business
gets a step up in basis.

Speaker 5 (01:33:34):
If they die right then there and then and then
their children will.

Speaker 1 (01:33:38):
But if somebody owned the business by themselves one percent
and then they pass their kids, then just get it
at the high value the evaluation basis.

Speaker 6 (01:33:46):
We do an appraisal, they'll figure out what the fair
market value is the day to death or six months after,
which is an alternate evaluation date, and then you get
that step up in basis.

Speaker 5 (01:33:55):
Right.

Speaker 1 (01:33:56):
If they want to liquidate it, fine, If it's more
than that, they got to pay tax. If it's less
than that, they don't pay taxes.

Speaker 6 (01:34:01):
I mean at the end of the day, I mean,
if you have a partnership or some sort of business
that's fifteen million dollars and they're not going to run it,
they're gonna sell it. They won't pay any capital gains.
They may pay a little bit of a state tax
over top that fourteen.

Speaker 1 (01:34:13):
Million, right, Okay, I get that?

Speaker 5 (01:34:15):
All right?

Speaker 2 (01:34:15):
Cool?

Speaker 1 (01:34:16):
What else we need to know coming up? Any new
change is coming. I know you're excited that Trump's.

Speaker 6 (01:34:21):
In, everybody's excited. Yeah, so I'm just waiting for that
market to go up. How about the crypto market, is
there any outlook on that?

Speaker 3 (01:34:28):
Bit Coin's doing pretty well? It is about ninety ninety
seven at the end of front. I mean it trades
twenty four to seven, So it does.

Speaker 5 (01:34:35):
And that was the beauty.

Speaker 6 (01:34:36):
That's how why I got into it originally, was back
in twenty twenty twenty.

Speaker 1 (01:34:40):
Is this going to hurt your business? To help your business?
If we since the with the new tax codes and
stuff coming that'll come in. I don't think it'll have
an effectively, hopefully, because I think people still need to
do their trust.

Speaker 2 (01:34:49):
It's just maneuver in it.

Speaker 1 (01:34:51):
Especially today's world. Second marriages, different kids from different places.
You know, absolutely stuff.

Speaker 6 (01:34:58):
One percent of the population really needs to worry about
the taxes, right. The other ninety nine percent they come
to a state planning because they want to make sure
that their kids are taken care of.

Speaker 5 (01:35:08):
I had a call today.

Speaker 6 (01:35:10):
My parents need a simple will and a power of attorney. Well,
how many houses they have? They have two houses? Well,
for six hundred dollars, you can do two beneficiary deeds
and avoid the four thousand dollars probate.

Speaker 2 (01:35:22):
That wasn't a hard sell, right.

Speaker 1 (01:35:24):
Well, I know you've talked to many times about doing
the lack of a better word, the cheap trust, you know,
the simple trust for you know, five ninety nine or something.
Where's that sit.

Speaker 6 (01:35:34):
Well, we were talking about obviously a state planning and
we're trying to you know, formulate some ideas and how
to keep costs low on our end so we can
provide a quality product of somebody at a cheap runt,
at a lower cost.

Speaker 1 (01:35:47):
That's what we love to hear. Guess what end of
the show got to say goodbye. We want everyone to
be happy, be healthy, and at the end of the day,
we all strive to be profitable.

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