Transcript was automatically generated.

Frank Curzio 00:00

What’s going on out there? It’s Wednesday, March 11th. I’m Frank Curzio

Frank Curzio 00:02

…hosting the Wall Street Unplugged podcast, where I break down headlines and, uh, tell you what’s really moving these markets. Daniel Creech, how’s it going? By the way, make sure you don’t say the word shit, ass, piss, or any curse words because we are live today, Daniel. We have to behave ourselves. How’s it going, buddy?

Daniel Creech 00:22

Happy Wednesday. It’s going well. What are you doing? Polymarket bids over there? What are w is it, uh?

Frank Curzio 00:27

Yeah. It was having curse words, Frank was gonna say. I have to hit two more and then we hit the over. Yeah. And curse word. It’s better than betting against, uh, you know, one of the, uh, the regimes, uh, getting killed and murdered and, and people making, you know, millions of dollars off those bets, which is funny, but, uh.

Daniel Creech 00:41

50-some million dollar payout that they’re refusing to pay out,right? On Polymarket or is it Cauchy?

Frank Curzio 00:45

Yeah. Cauchy, I think. Yeah. But they always refuse after somebody wins,right? When you lose, it’s perfectly fine. When someone wins, they’re like, “Well, I don’t know about that.” But we usually like to talk about some fun stuff at the beginning. And one of the things in headlines, I, I’m a huge basketball fan. I played basketball for 40 years. Uh, I don’t know if you saw Bam at a bio, 83 points.

Frank Curzio 01:06

Daniel, I know you’re a basketball player. As well, 83 points in the NBA, probably some added excitement or needed excitement for the NBA because, man, it’s, uh, you know, ratings are definitely down, but that was incredible. I saw the highlights. I didn’t see the game live. I saw the highlights. I couldn’t believe it. And, uh, I don’t know. I was amazed. I wanna get your thoughts on it.

Daniel Creech 01:23

Yeah. You and nobody else saw it, Frank. The NBA is the worst professional product on TV.

Frank Curzio 01:29

It was the Wizards at Miami.

Daniel Creech 01:30

Absolutely pathetic.

Frank Curzio 01:30

Wasn’t it?

Daniel Creech 01:31

Now, this guy, that’s amazing. That’s awesome. Um, good for him. 83 points. We can go over the stats here. The only negative here is that he beat the late Kobe Bryant’s, 81. So that’s kind of a bummer, but a good reason to bring him back up. Yeah. I, I mean, we can go over the stats. It, it, it’s awesome, but the NBA is a horrible product.

Frank Curzio 01:49

I mean, I don’t know what the leading scorer’s averagingright now. I would have to say it’s probably below 30. Usually it is. It’s around 30. He had 43 free throws alone, 20 from 43, from the fifth, 43 free throws. He had 36 of ’em. You know, Kobe, 81. That was a real game. This at the end, pretty much he said after halftime, whatever he had after halftime, I don’t know. I mean, I don’t know how many points he had.

Daniel Creech 02:09

We had 30 some in the first quarter.

Frank Curzio 02:11

Yeah. 31.

Daniel Creech 02:12

He had to have, he had, well, I guess he shouldn’t.

Frank Curzio 02:14

I don’t know what he had. It, it was, it was, but halftime he said when they interviewed him, they’re like, “Allright, well, we’re gonna give you the ball every single time.” And I love that. I love that they won’t feed him. They would triple team him and they still fouled him and everything. And I love that. He was a good guy, but 83 is 83. So no one’s gonna say Wilt Chamberlain, even though he was about three feet taller than everyone else back then when he scored a hundred and bounced the ball off people’s heads, catching it and dunking it.

Frank Curzio 02:34

He probably, I don’t even know. He must’ve had, with a hundred points, he probably had about 87 rebounds that game, Wilt Chamberlain. But nobody looks back at the stats and says, “Oh, what actually happened back then?” Or other guys going, “Hey, pass me the fricking ball. I’m open.” Nobody said anything, but.

Daniel Creech 02:46

The only knock you can give this guy is he didn’t even get a double-double. He only had nine rebounds.

Frank Curzio 02:49

That’s it. Nine rebounds.

Daniel Creech 02:50

83 points, nine rebounds.

Frank Curzio 02:52

I mean, he was on fire. He was like pulling up from three and running and stuff. He’s a good guy too. So I’m, I’m really happy. It, it was good. I’m glad it wasn’t like Luca, who hasn’t played defense since he was like six, you know, and, uh, some of these other guys that just shoot like maniacs and stuff like that. So it’s a, it’s a good story. And, and I was, I couldn’t believe I saw that number, 83. I’m like, “How does this guy score 83 points? That’s, that’s incredible.

Frank Curzio 03:11

That’s awesome.” Good for the NBA, I guess. I don’t know if it’s that good because they played against the Wizards, who’s the worst defensive team, I think, in the history of sports. Uh, but.

Daniel Creech 03:20

The, the final was 150 to 120 something or something like that.

Frank Curzio 03:23

Yeah. It was crazy.

Daniel Creech 03:24

A lot of, a lot of defense in that game, Frank.

Frank Curzio 03:26

Yeah. I know. I know. Pretty crazy stuff. But, uh, yeah. So listen, we open up this live podcast and we like to do Q and A’s and we’re doing this once a month and we might be doing it a lot more because we’re getting good responses. We’re getting thousands and thousands of people to, to, to watch our live broadcasts. Uh, I’ve been doing this podcast for a very long time. If you’re new to it, if you’re just watching the live event, I’ve been doing podcasts for over 15 years.

Frank Curzio 03:46

Basically took it over from Jim Kramer, uh, when I worked for him, uh, at the street.com. Give 15 years. Everyone has a podcast now. We do it for a long time. I’ve interviewed pretty much almost everyone that you’ve seen on CNBC and stuff. We have great interviews. So, you know, we like to give back too with the community. So this is a free podcast and we say, “Hey, you know what? We’re gonna open up, uh, for a Q and A.

Frank Curzio 04:05

We’re very open, honest. You’re gonna hear different opinions here. There’s no one above me. So there’s no like, hey, you know, safeguards or be careful and you gotta say this, that.” No, I’m gonna tell you exactly how it is,right? We’re, we’re data-driven here. Uh, we’ll only change our minds on a fly. And, uh, that pisses a lot of people off, but we don’t care because we’d rather tell the truth. And when you tell the truth, you piss people off, especially in our industry.

Frank Curzio 04:25

So, you know, if we don’t like someone, we don’t like a CEO, we think you’re getting fucked up. We’re gonna actually come on here and say it. And, uh, we don’t care who it is,right? Because we care about, uh, our subscribers, our listeners. And that’s why we’ve been around 15 years doing this podcast and built a whole entire business around it. And, uh, it’s been a lot of fun. So, uh, with that said, Daniel, let’s have fun. Let’s answer some of these questions. Lots of good ones.

Frank Curzio 04:44

Lots going on with the market. Lots going on with the market these days.

Daniel Creech 04:47

Yeah. Absolutely. I mean, we’ll start it off with the, uh, gorilla in the room, Frank. You wanna talk about the Strait of Hormuz? Sarah asks, are there sectors at play during this Iran war? You mentioned fertilizer companies the other day. That’s referencing last week’s podcast. But yeah, let’s start with the Strait of Hormuz sectors, all that good stuff.

Frank Curzio 05:05

Yeah. And, and there, there’s a lot of different sectors that get impacted and oil just impacts everything,right? And, and, you know, you look at CF Industries, we recommended last week up 20%, Urea Company with, uh, I think people aren’t really talking about how much fertilizer comes through there. Urea is, uh, fertilizer used to increase crop yields, make them grow faster and bigger. Uh, and, uh, that is a main chemical.

Frank Curzio 05:27

Uh, one third flows through the Strait of Hormuz and CF Industries is the play on that one. And, and, you know, we’re up nicely in just a week. I think it was like 20% in a week or so that we recommended that, that we mentioned on our last podcast. Uh, I, I didn’t think anyone was really talking about, you know, fertilizer, but this is planting seasonright now. It’s the worst time. So you could see food prices. Everyone’s talking about inflation, uh, on the oil front, of course,right?

Frank Curzio 05:48

With oil prices spiking tremendously. And by the way, I, I think we need to talk about some of the things that happen within oil because when we look at the spike and we see the move to, uh, oil, to a hundred, what was it? 116, 117, wherever it was. And when you see that type of move, guys, that is not a normal move.

Frank Curzio 06:10

What I say is, yes, it’s due to the, you know, you could say the closure, even though it’s not technically closed the Strait of Hormuz, but, you know, 20% of the oil flow flows through, through that strait. I mean, you guys know all the statistics. Everyone’s been banging out statistics for the past two weeks. Every single number we like to do is, is, is tell you a little bit more in depth. Uh, when you see a 36% move,

Frank Curzio 06:30

uh, in oil prices last week, that’s a record. Trading volume on the United States Oil Fund, that’s the ETF USO, hit a record, 12.4 billion. That was on Monday. Volume’s up a thousand percent, 10X since the start of the year. When you see these types of moves, yes, oil should be up. Oil should be 80, 90.

Frank Curzio 06:50

And at 90, we saw some of the biggest hedge funds in the world shorting. And I think Zero Hedge has a great story out there of how these funds got, got destroyed because they were on the wrong side and it pops. And when you see a pop like that,right? It’s more than just a straight. This is algos. This is shorts. This is people running for cover going, “Holy shit.” I mean, going to 170, nobody had a hundred.

Frank Curzio 07:09

Everyone’s like, “Oh, it could go to a hundred.” Nobody really had a hundred. Even we were like, “Hey, 72, 73. Look, it’s probably gonna go to 80, maybe 80, a little higher.” And it’s a good time actually. Oil will come down ’cause we have so much oil. Oilright now, if the strait is open and there’s no war, oil’s in the fifties. That’s how much oil we have. Okay. When you look at the supply-demand imbalance,

Frank Curzio 07:29

when you look at the futures contracts, and Joe, I don’t know if you have that up there, that picture of the futures contract, you could see even from a couple of months from now, maybe six, seven months going to 2027, we’re gonna be trading under 70,right? So it’s just telling you this is temporary. Now, if you’re a trader, okay, you wanna mess with oil, good luck messing with oil.

Frank Curzio 07:48

‘Cause I could tell you the smartest guys ever to trade oil, this is where they blow up the most. You could trace back. You could do your Google searches, AI searches, look at all the funds that blew up in oil over the past 10, 15 years, uh, even some recently in 2024. And, and they’re just on the wrong side because it’s so volatile and so difficult to predict.

Frank CurzioSpeaker 1 08:07

So don’t think you can go there and be like, “Well, I’m gonna predict this. This isn’t great.” What you need to know is if you’re taking a long-term look and you’re looking at all your stocks in your portfolio and the market has come down a little bit, it has, you know, rebounded a little. I think we’re only about 2.5% off our highs for the S&P. When I look at this, it tells me that oil’s not gonna be a factor a year from now.

Frank Curzio 08:24

And I know a year from now is like 50 years from now in today’s terms with social media and everybody knows everything happens every single second. But if you’re looking at your portfolio, looking long-term, what it’s telling you is this risk is going to be off the table and it should be off the table, I would say, within the next few months. If you listen to Trump, he says the next few weeks.

Frank Curzio 08:44

I don’t think so. Uh, but this war would be considered one is when, when the strait opens and that’s when we could say, “Okay, we declare victory.” And when that happens, you’re gonna see oil prices come down. Now, oil prices come down before that. Why? This is key, Daniel. The G7 ministers are about to release 400 million barrels of oil from the 1.2 billion strategic reserve.

Frank Curzio 09:04

That’s okay. That’s what the strategic reserve is used for,right? In, in times like this, 400 million barrels is like 20 days of supply. When you look at, I think it’s 20 million barrels per day that flows through there, which is, you know, about 20% of the production, which is about a hundred million barrels a day. Again, I don’t wanna throw too many numbers at you, but what you need to know is, and this is important here,

Frank Curzio 09:24

the government is such the wild card. It, and they have this put under the market that I think people hate. And you have to put your feelings aside. I don’t care if you hate Trump. I don’t care if you hate Biden. I don’t give a shit. What side are you on in the politics? It’s about making money because no matter what the politics say, which by the way, you know, we get caught up in it sometimes, but I just laugh because everyone’s shouting someone else’s agenda that doesn’t give a fuck about anybody,right?

Frank Curzio 09:46

That’s why politicians out there, they don’t really care about anyone,right? They only care about themselves and get reelected,right? And everyone out there’s like their soundboard now, even though they don’t care about you, including actors, actresses, and musicians and everything besides the point. But every single administration is incentivized to get the stock market higher, especially when you have midterm elections, which we have coming. So Trump needs an immediate end to this war.

Frank Curzio 10:07

Why? Because you have Middle Eastern countries who are really pissed off. They’re taking aside ’cause Iran decided to say, “Okay, we’re gonna bomb everyone who’s around us.” We have no idea where the missiles are going, including their allies. So you have Qatar, Kuwait, Saudi Arabia, UAE. They’re holding production. They don’t have oil to refine, which are hurting their economies,right? So now they’re pissed off. So, you know,

Frank Curzio 10:25

not just on the US front, which is, this is not a popular war. Listen, 50% support it. Uh, but you wanna be on the side of politics here. And Trump needs to change, to turn this around. So that’s why if you look at the strategic oil reserve, that really wasn’t on the table until like four days ago. And all of a sudden you’re like, “Holy shit, we could do this,”right? And, and if you look at in the past,

Frank Curzio 10:47

just like the credit crisis, what did they do? They bailed out the banks. They gave money to banks. They gave money. They bailed out AIG. They bailed out everyone,right? If they didn’t do that, our whole entire financial system would’ve collapsed. Uh, just like bailing out Silicon Valley Bank, uh, COVID, handing trillions of PP loans and money directly to people, which caused inflation, which, which, you know, our Fed said it’s only gonna be transitory.

Frank Curzio 11:06

It’s not gonna be a long time. We went to 10% inflation. Even Biden’s American Rescue Plan 2021, even after COVID and the markets at 2021, all asset prices, Daniel, were trading at all-time highs. If you’re looking at housing, you’re looking at the stock market, you look at collectibles, everything across the board was trading at all-time highs. And we still released trillions into the market, which is the reason why it caused so much inflation in 21-22.

Frank Curzio 11:27

So Trump is 100% incentivized to get the stock market higher and oil prices low before the midterm elections. And if you take out thisright now, when you’re looking at oil, ’cause that was a question, like what sectors you should be buying on pullbacks as much as you can. Okay. It doesn’t mean that the market can’t come down 5%, 7% from here.

Frank Curzio 11:45

That’s fine. But have dry powder to buy on pullbacks because if you’re looking, oil vessels are gonna stop flowing through the strait. Huge tax refunds are coming for Americans and it’s, and probably in the form of $2,000, uh, per person, maybe more. That’s gonna happen. If I had to guess, October, September, becauseright before elections, they said second half of the year, which is smart.

Frank Curzio 12:05

Just like how Biden, uh, when oil prices were higher, he released oil from the strategic oil reserve. He did exactly what he was supposed to do as president before those midterm elections to get oil prices lower. This way people vote with their wallets,right? That’s what the administration does. So instead of getting pissed at Biden, instead of saying, “Trump’s an asshole for the war,” learn how to make money off of this. If you wanna hold up a sign,

Frank Curzio 12:24

“I don’t give a shit what you do,” just hold up a sign and say, “I hate everything. I hate the world. I hate America.” If you wanna support your family, if you wanna make more money, you wanna be retired,right? You wanna be able to pay for your kids’ college. This is how you have to look at the markets. And when you see the callous coming on, even though inflation’s probably gonna tick higher, we didn’t see that today because it’s a lagging indicator from the CPI.

Frank Curzio 12:43

But you’re looking at Powell when he leaves, you’re going to see this pressure to lower rates with lower rates coming because the housing market’s rolling over a little bit over all the statistics that you look at and the people I talk to. Then we get back to what’s the true dynamics of the market. Okay. Earnings growing double digits, mid-double digits. You got profit margins close to 14%, the highest in 15 years.

Frank Curzio 13:03

Yes, that is AI exiting in place for block 40% of them. They just got laid off. So when you have these catalysts going into the market and you see this oil, it’s a lot of noiseright now, but it’s probably gonna end in a couple of months. What I would say is add to things that are working. Get rid of your software companies. We like, you know, Salesforce is very, very cheap, only 3%.

Frank Curzio 13:22

They wanna say AI. We’re in AI. Only 3% of their revenue comes from AI. Okay. It’s completely disrupting that whole industry. Listen to what the market tells you. Don’t listen to what the software CEOs tell you because their stock’s down 50% and they’re still saying, “I don’t know what’s going on. I can’t believe we’re down. We’re not seeing it.” The market’s telling you, “People know, go on Claude. You could do a lot of this shit that they’re charging massive, massive prices.

Frank Curzio 13:42

They don’t have the margins that they have.” And that’s the thing. That’s what people are worried about. And some of these stocks outside of Salesforce are so expensive. Oil stocks are gonna do well. They’re well positioned going into this. They went up before this. The market told you that, “Hey, something’s gonna happen.” Oil stocks went up tremendously into this and now they’re pulling back a little bit. But you gotta expect more of these guys producing at 86,

Frank Curzio 14:02

even though the share play said, “We’re not gonna produce.” That means that they are gonna produce. They should be producing. They should be turning it on, which takes a week or two. I visited every single shale area, uh, around the United States. I travel and we do lots of boots-on-the-ground research in the Permian and in the Bakkin, uh, in Eagle Ford. So, you know, they could turn this on pretty much in weeks, which they should be doing for more money.

Frank Curzio 14:22

Uh, but start adding to those positions that you like, especially within AI as well. A lot of those names have pulled back. Not all AI names. We have a lot of them. We’ll go cover them later on. We’ve got some questions, but that’s how I would play it. That’s the playbook, uh, and understand the politics. And last thing here I would say is you wanna understand the politics. We’ve been on this trend for since Trump got elected.

Frank Curzio 14:43

Follow who’s in his circle. Okay. If you look at, we made a killing on Alcoa. Alcoa’s CEO was traveling with the Middle East. It just, it was like a “Where’s Waldo?” Why is Alcoa there? Such a tiny company. You had Nvidia CEO. You had IBM CEO. You had Boeing CEO. Also, Boeing did well. Uh, Nvidia. Why do you think they’re getting the deals with China now? It’s China’s opening up to their chips. Uh, you know, Intel was an amazing deal.

Frank Curzio 15:03

Rare Earth companies are still up and they’re down from their highs, but they’re still probably more than double from when Trump made investments in them. And what does that mean? It means you’re gonna cut through the red tape. You’re taking off the biggest risk for mining companies is getting funded. Now they’re going to get funded. And also the permitting process is usually long.

Frank Curzio 15:22

Now you’re shrinking that, that permitting process,right? So you’re removing those key risks. Uh, Paramount, we were big on that too. Paramount, we said, uh, Paramount’s gonna win the bid for Time Warner. And I said, “Look, because of politics, Netflix, even after Trump won, they still went after him. They said, ‘I hate Trump. I hate Trump. I hate Trump.'” And then we came on the podcast and said,

Frank Curzio 15:41

“Look, Netflix is not gonna be able to buy these guys.” And then Time Warner accepted that Netflix bid and I got a lot of emails. I said, “It’s not over yet.” As I’m telling you, with Paramount, there’s a re—Paramount was spending a lot of money on the Republicans and the Republican parties, especially in, in the elections. And, you know, some on Trump’s, but a lot through the Republicans who were running in the Senate. And that resulted in what?

Frank Curzio 16:02

That resulted in Netflix having to drop the bid because of the politics. So pay attention to the politics, where you make money and take your emotions out of it. That’s the best way to make money in this market. And we just covered probably about a good 10, 12 stocks for you to buy. And software companies, be very, very careful ’cause I think there’s a lot more pain coming for most of them, for most of them, only the ones that are really service now.

Frank Curzio 16:21

There’s a couple of other ones. I mean, CrowdStrike got an upgrade today. The ones that are able to really transition into AI, that’s good. But most of them have not, especially Salesforce. And, and, and more pain’s probably ahead. Frank, you mentioned the, um, Trump watching markets and it’s his duty to get markets higher and oil prices lower. You know,

Frank Curzio 16:41

one thing that we’ve lost is remember the theory of the invisible hand on interest rates and how the market will dictate the correct price and all that. Well, that’s out the door because we have a Fed that wants to control everything, uh, including every individual decision by every individual in our economy, which is pretty silly. However, what do you think? I think this is a great conversation.

Frank Curzio 17:01

Do you think it’s a good thing or a bad thing that oil is basically controlling the war with Iran and the stock market? That’s basically an invisible hand, in my opinion. You cannot let oil go to 120, 125 and stay there for any amount of time. Trump can make up any excuse he wants to. He can back off. I think it’s a great thing on this invisible hand thing.

Frank Curzio 17:21

What say you? I, I, I think we forget that oil runs the world. Okay. It really does because it, it, it’s a cost for every business. It’s a cost for every consumer. Uh, it powers our electricity. So forget about AI. Like, oh, technology companies, they need oil. They need power. We need energy,right? Uh, airlines, cruises,

Frank Curzio 17:39

chemical companies, energy companies, all of them, oil alone, everything flows through oil. So when you have this low oil price, I think people forget that we came down from a hundred to the fifties. Uh, they forget how important this is and how this is a major input, uh, especially for everyone. But this impacts every business, practically every business, every person,right? We see it in our bills.

Frank Curzio 17:58

We’re seeing it in gas prices where we were paying, uh, east, it was, um, Florida. So it depends where you are. I mean, California you’re probably paying a hundred dollars for gas. I don’t even know, but, uh, whatever it is, six, seven dollars. But it was below $3 for a while. Now it’s 3.50. And this is like in two weeks,right? Over 3.50. And you see, and it’s not so much what, wow, you don’t look at it as it’s 50 cents a gallon.

Frank Curzio 18:16

I have 20 gallons. Oh my God, it’s gonna cost me an extra couple of dollars. It’s not that. It’s the sentiment because now you have insurance prices going up tremendously on your cars for your kids, for, for, for homes, especially living in Florida. You have, you know, food costs going up across the board,right? We’re still seeing inflation,right? It’s not like inflation has gone down. We went up tremendously during COVID, like 30, 40% in a four-year span.

Frank Curzio 18:37

And then we’re still going up two point whatever percent,right, going forward. So these costs are getting higher and higher is the reason why, if you look at the housing market, Daniel, people are, are, are canceling. They’re saying, “We’re gonna buy this house and cancel it 20%,” I think in December. And I think that number was even high in January, uh, with the latest statistics showing how they were going to buy houses, but they pulled back because it, it’s just the costs are crazy.

Frank Curzio 18:58

You can’t move sideways. I mean, I don’t know what the percentage is. It’s something like 80% of people have mortgages under 4%. So if you have a mortgage of 4%, you have a million-dollar house in New York and you say, “F New York, F California, I’m gonna go to Texas or, or, or Florida for better tax purposes and safety,” uh, you can’t move sideways if you have a mortgage ’cause your mortgage is gonna go up to 6%, which is almost double the payment that you have.

Frank Curzio 19:18

So, you know, when you have this, I think people are just second-guessing and that’s why we need interest rates lower. So oil runs the world and you really need to understand that. And I think this is just a tap and a reminder. And by the way, you know, when I look at the, at the Fed or what the Fed’s gonna do, if I look at analysts and what they’re gonna doright now, they’re comparing, uh,

Frank Curzio 19:38

you know, all of oil into, you know, past, you know, let, let’s see what the playbook is,right? Okay. The playbook for this is, is let’s see where oil was, uh, in 1990. Allright. Iraq invaded Kuwait and S&P fell 20%. 1973, oil embargo. S&P fell 48%. Throw that shit out because back then, if you’re looking, we were a net import of oil.

Frank Curzio 19:59

We needed OPEC. OPEC ran us. Now, due to fracking, we’re the largest producer in the world. I mean, we almost have an unlimited supply of oil and people are gonna laugh when I say that. But if oil’s $200, we’re gonna drill deeper and deeper and deeper. Look at the technology. Look at the Permian. Look at the different layers that you could, you know, in Eagle Ford, you have one layer that’s 300 feet, but in Permian, you have different layers and it’s more expensive.

Frank Curzio 20:21

Deep water’s expensive as well. But the higher we go, that’s why you’ve seen deep water. The technology’s amazing there and you’ve seen that really take off, the more oil we could produce. But for the US, you can’t compare and look at past playbooks because we were severely impacted and we relied on other countries in the Middle East to supply us with oil. Well, we don’t need that anymore. I think overall total oil equivalent ounces,

Frank Curzio 20:42

uh, um, uh, and barrels, I think it’s 22 that we produce, 22 million, and we consume 20. So, you know, we’re a net import of, of oil. So you can’t really look at past playbooks of what’s going on with the S&P. It’s probably why the market is starting to come back a little bit. And now we’re gonna focus more on the fundamentals going forward. Allright. Let’s get to, uh, man, a lot on oil there,right?

Frank Curzio 21:04

Get another question here. It’s timely. You mentioned, uh, we’ll talk some stocks and technology even needs power. Okay. Oracle, Frank, Amanda asks, what are your thoughts on Oracle earnings? How would you play this? Does it, and how does it fit in the AI theme? Essentially, is Oracle a buy? Yeah, Joe, put that up really quick on the charts so everyone could see it. I think it’s up like 10, 12% today.

Frank Curzio 21:23

Uh, the bottom’s in. The bottom’s in. And I’ve seen this trend before. It’s, I’m not saying the bottom’s in, you know, just to, yeah. And we’ve had Oracle in a portfolio and we’ve done very, very well. And, and look, Oracle popped. If you could put a year chart up, Joe, for that, if you look, I think it was, what, it’s September. Look at that. Look at that pop.

Frank Curzio 21:39

I think it was a 35% pop from 2.25 to 3.15 September after announcing a 360% increase in RPO. RPO stands for remaining performance obligations. It’s like a backlog. Okay. To $455 billion. And it was like, holy shit,right? That’s a lot of money. Now, what people didn’t realize, Oracle being a software company, the margins are huge.

Frank Curzio 22:01

So when you get those types of orders, this is big. This orders for data centers, meaning they have to build these data centers. And that’s when people are like, wait a minute, Oracle’s gonna have to raise a shitload of money in order to do this. And then you came into the point where if they gotta raise a shitload of money, does that mean that we could see some of the hyperscalers dialing back CapEx? And if they do,

Frank Curzio 22:19

then Oracle, these orders and these RPOs might not be real. By the way, they just reported last night the stock is up 9% and those RPOs went from 455 billion in September. Now it’s 553 billion. Okay. So they had to take up massive debt, spooked the market. Stock got cut in half. The reason why they’re back is because you have to look at a company and their problems.

Frank Curzio 22:41

And when you look at Ellison, Ellison’s really smart and knew exactly what the market wanted and what they wanted to see. And that was one, they could fund these projects. And that’s what he said in the call, 90% are already funded from customers, meaning that spending from hyperscalers is not slowing. Guys, we were at 400 billion last year, which is insane. And it’s gonna be over 600 billion, $700 billion.

Frank Curzio 23:02

And so this is just from the top six hyperscalers. So the four that you know and throw in, I think Oracle and Alibaba,right? I mean, 600 billion, the total addressable market for cancer treatments is, I believe it’s 200 billion for cancer treatment.

Frank Curzio 23:19

They’re going to spend 600 billion and that’s gonna go up to 8 to 900 billion in 2027. And if you think that spending’s not gonna continue and why are they spending so much? Look at what Google did. I mean, they released Gemini 2.0 and it’s 3.5 now. And they added a trillion dollars in market cap. Look what happened to Claude after they just, look what happened to the software industry.

Frank Curzio 23:39

Look what happened to asset managers, uh, you know, because you, you don’t need code anymore,right? So, uh, once Claude released,right, and everyone’s all over Claude, holy cow, you go, you go to X, everything Claude, all the prompts, do this, do this. It’s amazing of where we’re going with AI and how these systems, whether it’s ChatGPT, whether it’s Claude, uh, you know, Anthropic, whatever, you know.

Frank Curzio 23:58

So when you’re looking at these systems constantly changing, what you’re saying is it’s worth it for these guys to continue to spend. And they have not hinted at all. We saw the quarters that spending’s gonna continue, which is great for Oracle. Oracle raised 30 billion pretty easily, oversubscribed. They had to raise another 50 billion and said, we’re not raising any more debt after that. We’re good through 2026. That’s what the market wants to hear and you gotta pay attention.

Frank Curzio 24:18

So if you’re looking at the risks that pushed Oracle down from 300 to 150, they no longer exist with the company. Meaning this should rerate and be over a $200 stock. And that’s where it’s gonna go over the next 12 months. So I love Oracle here. You don’t have to worry about the debt concerns. They’re fully funded. You don’t have to worry about hyperscalers cutting back. There’s zero indication. We have great, great, great contacts that build data centers.

Frank Curzio 24:40

We have contacts that tell us that for the first time in a 120-year history of this guy, uh, who works at a company, they’ve been around for 120 years, they’re turning down orders. Okay. So that means that we’re not even close to being in a bubble. A bubble happens when you have this massive supply and then it, you know, it just outpaces demand. Demand is still widely outpacing supply, widely.

Frank Curzio 25:01

It’s so much that they don’t have the capacity. So thinking that AI’s in a bubble, we would see it first. We would say it. We would, we would see orders coming down. We have, uh, a lot of contacts within the data center industry. We’re not seeing any signs of that. There’s no indications. There’s no data points you will find anywhere if someone’s telling you that. It’s ’cause they wanna fucking sell you something. I’m telling you with AI, there’s no slowdown in spending.

Frank Curzio 25:19

When there is, we’ll know, we’ll be able to tell you. Butright now I love Oracle here because everything that pushed this stock down no longer exists. And when you remove those risks and Ellison, Elon Musk is great, is great at doing that as well as you know, uh, Daniel, uh, you know, getting on the conference call and knowing why your stock’s down and why your investors are pissed and what the market’s looking at, you wanna address those concerns.

Frank Curzio 25:40

Ellison did a great job today. That’s why it’s popping 10%. But this thing should be, it’s probably gonna be 175 next week as long as the market holds here. We don’t see anything crazy out of, out of IRAN. Yeah. I thought the, uh, conference call was pretty, uh, incredible. And I had the same thoughts as you did. I mean, it felt very much like a Tesla call. But you’re more negative on Oracle than I am,right? I, I’m just worried about the next capital race.

Daniel Creech 26:01

So from my understanding, and to your point, what I think was amazing is that, and Ellison didn’t speak too much on the call, he was on the call, which says a lot just having him there. But what I thought was interesting, Frank, is you could tell they knew, I mean, it was just teeing it up like softball or T-ball. They knew what the market wanted to hear.

Daniel Creech 26:20

To your point, 90% funded, uh, these 10 gigawatts of power coming online next year and all this kind of stuff, breaking down more details, being more transparent, saying what I thought stood out to the street was they’re gonna maintain and they’re focused on keeping their investment grade. Obviously, that’s big. They just reported Q3 of 2026 for their fiscal year. So they have one quarter left.

Daniel Creech 26:39

My understanding was they announced this $50 billion. They raised 30 of it. Daniel Creech thinks, okay, that leaves 20 left at some point this quarter. If they’re not doing bonds, that’s gotta be some sort of preferred equity, some sort of stock offering. That’s what I would wait for and see the market reaction. I’m not saying I’m correct on that, but I think the other thing that stood out to me,

Daniel Creech 26:59

that’s the only thing I’m nervous about there because betting on, betting against Ellison is kind of a silly deal. The numbers are through the roof with AI and growth and all this kind of stuff. Margins, I get it took a little bit of a hit, but even on the conference call, they addressed that and they said, our hyper growth is the only thing impacting our marginsright now. And even if you have a big CapEx splurge, which we’re clearly seeing, that doesn’t last forever.

Daniel Creech 27:20

And the market’s gonna come around to that. What, if any, of your opinion, they, Oracle is out defending software as a service. They even mentioned the software as a service apocalypse and they said, hey, we don’t see that. What we’re doing is it’s gonna be transformative. It’s gonna be impactful, but we’re using it. Um, now Oracle is one of the best at cutting teams like that.

Daniel Creech 27:41

So I wanted your opinion on that, if any, uh, on them defending software as a service. You can’t, yeah. Because I mean, when you have software as a service, they have so many, you have, I mean, they’re one of the biggest cloud providers,right? So when you have other services to offer this, then it makes sense,right? So, so you forget about that where maybe the ServiceNows and Salesforce.com, I mean, Oracle has a whole entire suite that they can give everybody,right?

Frank Curzio 28:02

And cloud’s very, very big. That’s why you see Microsoft. I wouldn’t put Microsoft in a category of a software company,right? Even though many people do because, okay, yeah, you have cloud. Yes, it’s linked to software, but yes, you have AI data center exposure too, which a lot of these regular software companies don’t. What they do is if you look at Salesforce, I had someone that worked at, at a company,

Frank Curzio 28:21

a large hedge fund, uh, large money, uh, asset manager, and they were getting paid $450,000. And they were one of three people that just worked on, um, on the CRM, CRM for, for Salesforce because it’s so difficult. And anyone that knows it’s very difficult and it’s very high-end. Uh, it’s amazing services, but it’s, and it’s very super, super expensive.

Frank Curzio 28:41

However, now you can’t charge those high prices because, you know, you don’t need people who know code to write a lot of this stuff, you know? So they’re transitioning, but Salesforce saying the CEO keeps coming on and saying, hey, you know what? We’re transitioning. This is great. And scroll down, Joe, ’cause you’ll see what Salesforce is trading. And this is why I wouldn’t short this stock or anything, but it’s trading at 14 times forward earnings. Most software companies, I think,

Frank Curzio 28:59

are still trading at 28, 29, still have a premium multiple where you’re seeing their growth get cut. That’s a dangerous scenario for stocks. When you have a high valuation, that’s okay. If you’re growing like a weed, that’s fine. Okay. That’s why so many people miss Netflix. They miss Microsoft early on. They miss, you know, all these great companies at Teslas and saying they’re so expensive. They’re crazy. Well,

Frank Curzio 29:17

when you have this massive growth that continues, that’s what they’re trading on future growth. When you see that future growth get hit and cut, uh, which you saw with Salesforce and due to AI and a lot of these software companies, now you see this rerating of the multiples that has to come down. Uh, it happened for Salesforce. They’re cheap. They also have a very huge buyback, which is gonna be very good.

Frank Curzio 29:36

But, you know, they announced a buyback, which I hate. I hate when companies announce a buyback when they don’t report great numbers. I think it’s just a cop-out. And they reported a massive, massive, well, what, what’s the market cap of, of Salesforce? Because I’m pretty sure what was, I don’t know what it was. I think it’s like, wow, what was it? 20% of the market they’re buying back. I don’t know if it was 50 billion or whatever over time, whatever it was, uh, which should keep a floor under this name.

Frank Curzio 29:58

But software in general, you know, and I’d be, I’m very worried software in general. I still think that there’s more downside. I wouldn’t be trying to bottom fish here in some of the names unless you see them make that transition into AI, which we saw with ServiceNow and a couple of others. There’s an upgrade of CrowdForce today as well. I’d like to see that and get a chance to read that report. Uh, but just be careful of this industry because,

Frank Curzio 30:17

um, you know, as much as Salesforce says AI, AI, it’s, it’s 3% of their sales. It’s not even close. And every time they get more into AI, they’re losing more business from their bigger customers, which is very high margin business. And their margins are gonna go lower. And that’s why these things need to rerate. Salesforce already rerated, uh, but a lot of others have to come down further, I think. Stay away from software. Listen to Frank.

Daniel Creech 30:36

Yeah. Allright. We can’t do any questions, Frank, without getting questions on two stocks. You know what I’m talking about. Big quarter coming up for DigiPowerX. DGXX is the ticker. Thoughts on that one? What are we trading today on DGXX? Let’s see. Yeah. Bring it up, Joe. So DGXX is a company we follow around since, since a dollar, uh, dollar.

Frank Curzio 30:57

I think we recommended a little bit higher than that, $1.40. Uh, so DigiPowerX, we had the CEO, Michelle Timur, on several times, uh, in interviews. And we found this hidden gem. And by the way, we have another one coming out that is three times the size of DigiPower that nobody knows about, that they, that we’re gonna come out with, that we’re working with through our marketing consultant division,

Frank Curzio 31:17

that, uh, um, this team is absolutely amazing. I mean, they have links to Anthropic, they have links to Microsoft, uh, they have tons of power they just put together. Uh, it, it, it really is a fascinating story. So what you wanna do is we have a massive power crisis that nobody’s really talking about. People say it’s bigger than it.

Frank Curzio 31:34

It’s much, it’s 10 times bigger than you think because we’re not factoring in when we look at, uh, you know, all the models that I checked in the past couple of years, uh, that they’re basically modeling on large language demand and how much power you use through large language, whatever it is. It’s like, you know, 80 times more than a simple Google search. Agentic AI is even higher than that.

Frank Curzio 31:55

It’s like another 34 times. And we’re not modeling on agentic AI in the whole world. We’re gonna see millions of these bots. These are like digital people. This is, we’re seeing it roll out tremendously fastright now for a lot of companies, especially technology companies. Demand for that power, I have no idea how we’re gonna get that power. So any company that has power, and that includes Bitcoin miners, Bitcoin has, has gotten wrecked.

Frank Curzio 32:15

That’s called tier three. They’re transitioning from tier three to tier one. It, there’s probably, if I had to guess, on average, probably maybe 5 million, 6 million, 7 million to transition some of these things to make that transition. DGXX is transitioning into that. So they’re going from tier one to tier three. Why is that a big deal? Because tier one Bitcoin, each megawatt is worth a million.

Frank Curzio 32:35

If you look at tier three and once you convert them, they’re worth 15 million, 10 to 15 million dollars. And that’s based on some of the deals that are going on. And all the hyperscalers, what do they have? Huge pockets,right?

Frank Curzio 32:47

And they have to find, I mean, they’re signing deals with Three Mile Island to produce, to open that up, which I don’t even know if it’s gonna open up in five years ’cause you need state, local, federal approval. Good luck with that. Uh, and then Microsoft bought out the energy for the next 20 years,right? Just to tell you how, how much demand is,right? Which is crazy. I mean, you look at,

Frank Curzio 33:06

uh, Oklo where it’s trading, where that technology’s not even scalable,right? And you’re looking at, at, you know, whatever billion dollar valuation Oklo is now. So their entire need for this power, and when you see DGXX, they’re just in theright spot. And they have about 200 megawatts of power that they could transition. If you look at that 200 megawatts total power and you times that by 10 million conservative, that’s a $2 billion valuation.

Frank Curzio 33:28

They have a great balance sheet. I think they have something like 80 million in cash, no debt. Uh, and it’s trading at, at like a $200 million market cap or wherever it is. They just hired the former Verizon chairman and CEO, uh, Hans Vesberg, a senior advisor. That guy knows more about infrastructure, telecom, almost anyone. Great hire. Peter Lynch is an investor in this company.

Frank Curzio 33:48

That Peter Lynch. So you wanna talk about value. And also Ken Griffin, not Citadel’s an owner, but Ken Griffin personally owns this stock. Okay. So this is a hidden gem. It was as high as six. It pulled back along with the rest of the market. Uh, it’s nice being in early because we’re still holding. And this is a name that can go up incredibly, incredibly higher from here.

Frank Curzio 34:05

Especially the biggest thing with these companies is the big callus is announcing a tier one partner when Microsoft comes in, when, you know, you have Amazon come in, when Meta comes in, uh, when Tether comes in,right? If once they, these companies that make this announcement like Core Scientific or others, you see these stocks almost double. This stock will go to five, $6. And that’s where they are.

Frank Curzio 34:25

They finally have the power they’re converting from. Don’t wanna get too much details for their Alabama plant. Uh, but, uh, now they’re seeing the results. They were on this trend over a year ago while a lot of Bitcoin miners are just starting to transition over the past quarter. They’ve been on it for, for, uh, pretty much 15 months. So they’re well ahead of the curve. These guys are doing very, very well.

Frank Curzio 34:44

I’d like to see more marketing, better market out of the, uh, out of the CEO. And, and, you know, sometimes these guys don’t doright by shareholders, which I get. They just, you know, in terms of conference calls and saying everything that’s going on. One quarter didn’t have a conference call. Like, tell everyone your story. Get out there. This is a great story. Still a lot of people don’t know about it, but I really like this name. I think it goes a lot higher from here.

Daniel Creech 35:04

Allright. We’ll switch gears here from a public company. Frank, we got a question. Jack, is the Kathy deal still open? Talking private placements. The Kathy deal’s still open. So what we do is we have a membership called Kersio One, and it’s open to accredited investors. And over my 30-year career, we’ve built up from me making lots of mistakes and investing in private companies, uh, you know, we know what to look for.

Frank Curzio 35:26

And we help companies either structure these deals or we say, hey, this is what we want, warrants. Or, or, you know, they wanna come out of 50 million valuation. We’re like, we’re coming out of 20 million valuation. They’ll say, no, no, which every company thinks they’re worth a lot more,right? If they say, no, no, it’s a 50 million, I’m like, you know, forget it. The hell with you. We’re not, we’re not dealing with you. So we’re very specific in deals. The deal flow that we haveright now is fantastic.

Frank Curzio 35:47

I know they wanna open up the private markets, guys. Be careful. It’s such a shit show. They wanna open the private market to retail investors ’cause what Wall Street does is they shit on retail investors,right? So they’re gonna take all their shit and give it to retail investors like they did with SPACs. And people don’t know. They’re like, oh my God, we’re buying these great companies. These are great companies. They were going for $300 million valuations before they transitioned and reverse merged into the SPACs.

Frank Curzio 36:09

The problem is they were cut, once they, once they merged, they were like three, $4 billion valuations. It’s why 90, what is it? 95% of SPACs are down more than 90%. And people got annihilated them,right? Because, and that’s what they’re looking to do. They wanna sell you this stuff because when you have a liquidity period or, you know, you’re raising money or they wanna bring in retail investors,

Frank Curzio 36:29

someone’s selling that to you. These are insiders that were in these private equities, say at a valuation of, say, $3, $4, $5, same with SPACs. They’re running at a dollar or 50 cents, $2, and they come out at $10. Opening up the private markets to retail investors is gonna be a disaster. It’s not for retail investors ’cause we’re like, oh, we want you to have opportunity. No.

Frank Curzio 36:46

Wall Street always makes money by dumping shit on retail investors ’cause retail investors provide the liquidity for all of these bigger funds that are in low prices to get the hell out. They need liquidity. So what we’re doing is we’re getting into a lot of these deals. And the deals that we’ve gotten to, one of them’s Savvy, uh, Eric Goldwire, who had an eight-figure exit, nine-figure exit started bed and breakfast.com.

Frank Curzio 37:06

We just got into at a great valuation. He started Savvy to compete with Airbnb and Verbo ’cause the fees, everyone knows it uses these are through the fucking roof. And the clients, you’re looking at, at, at people who purchase these properties or actually rent these properties are getting annihilated. Even the people who go there and, and, and, you know, stay at these houses, it’s worse for everyone.

Frank Curzio 37:25

Everyone’s complaining. And he has a, a no-fee platform where he uses SEO to really, that’s how they get paid, to really move it all the way up. And this is a great site. It’s availableright now. We’re in this,right? And these guys are growing like a weed. Uh, we have, um, you heard about private equity, how bad the private equity market is,right? So we have Sugafina. So Sugafina,

Frank Curzio 37:45

what they did is a confectionery company, uh, chocolates and gummies, and gummies are on fire. Not those type of gummies. You know, everybody loves those type of gummies, but not those gummies. Real gummies. High-end chocolate. And, uh, you know, these guys knew two, three years ago the private equity market was getting crushed.

Frank Curzio 37:59

So what they did is they started this company and made it a rollup and said all these other chocolate companies and different companies are on the balance sheets of these private equities. They have to dump ’em. And they’re dumping ’em on 10 cents at a dollar. So they’re taking all these things in and buying ’em really cheap and creating this big, huge company. And they just announced they’re gonna go public within the next six to nine months, uh, which is fantastic.

Frank Curzio 38:19

And we’re in that private deal. Now you look at Kathy. Kathy is amazing. So they’re using enzymes to take the caffeine outta coffee,right? Big deal. Who the hell, like, I didn’t even know this was a big thing,right? I mean, but, but people apparently, that’s a big trend. It’s going higher and higher. More people don’t want as much caffeine in their coffee or they want half and half. The process to do this is stone age shit.

Frank Curzio 38:39

You would laugh. I mean, it’s, they have to, so you get the, the, the coffee from Brazil. It’s only, you know, whatever. You got like four or five countries that, that produce most of the coffee beans, uh, in Dominica, Dominican Republic as well. And they have to ship ’em to one of like three facilities. And then there’s this whole cleaning process, washing process. You gotta redo it, go back and forth.

Frank Curzio 38:59

And it takes weeks,right? And then you have to throw them back in a bag, put ’em in a warehouse, then ship ’em out. And it’s amazing when you look at the details of the whole process. These guys take enzymes that, that it’s proprietary, uh, scientific research. And this works. They have taste tests and everything where that’s the biggest thing when they do it.

Frank Curzio 39:17

You wanna make sure the taste is the same and it tastes great. And that, and you put enzymes like almost like a sugar packet and you put it in, the caffeine is gone completely. Where the regular processright now rules 90 to 95%. Why is this a big deal? Because this is a massive expense for Starbucks, for Pete’s Coffee, for all the biggest coffee producers because they go through this and everyone wants this caffeine,

Frank Curzio 39:39

uh, you know, no caffeine. Uh, some people want it,right? So it’s a $50 billion market just for coffee. It’s hundreds of billions with all caffeinated drinks. So if you look, Joe’s got this on the screen. This is who they’re discussing,right? This is, this is who they’re in discussions with. Uh, you know, you look at Nestlé, you look at Pepsi, you know, big names. West Rock is huge. Pete’s, Starbucks, the bottomright corner,right?

Frank Curzio 39:59

So these guys found a way to use a simple process to get out the caffeine, which is gonna save massive costs. Also, a lot of these coffee companies have to buy carbon credits to offset their green and carbon and stuff like that. All this gets eliminated. Just like AI, every company in the world, their goal is to increase productivity. What do you do?

Frank CurzioSpeaker 1 40:18

You lower costs, increase profits,right? And this lowers the cost tremendously. It’s why they’re in key discussions with all these people. Now, when you look at the team, the team is met by, is, is led by a, you know, guided family office, uh, behind SlimFast, uh, which they sold for over $2 billion in the nineties. It’s a Unilever. Eric Quick is CEO, who I interviewed,right?

Frank Curzio 40:37

I have a, a, um, exclusive interview with him for my One members. And going over the whole entire process, this guy knows exactly how to run a company. And he even says, he goes, I’m not a scientist, but they have great scientists behind this. David Baker won Nobel Prize for protein design. George Church, CRISPR technology at Harvard. So we’re getting into this and we raised 2 million.

Frank Curzio 41:00

They increased another million dollars. And what I love is they did a $5 million raise. They gave us 2 million. And then they’re coming in, I think, for $2.5 million. The insiders are coming in. They said, look, we got, we raised that in like, I think we raised our 2 million pretty much in a week, almost a little over that. And they said, look, we’d like to increase it by, by 2 million or a million and a half.

Frank Curziopeaker 1 41:21

And we’re gonna put in another $500,000. Guys, if you ever go into a private company and you wanna invest in a private company, you wanna make sure the insiders are writing a check for that round. It’s the most important thing I could tell you, okay? Because they all have founder shares at zero, at a penny. Okay? So if they’re raising money at $30 million valuation and they don’t wanna write a check, why should you write a check?

Frank Curzio 41:41

That means they don’t believe it’s worth 30 million. These guys increased their allocation tremendously. They took out half of the deal themselves and wrote a check. That’s the ultimate endorsement, meaning that they’re in the founder shares and they’re writing huge checks at this level at a $30 million valuation. And for us, very happy to be in this deal. We still have about three, $400,000 left,

Frank Curzio 42:00

which would probably go, I would say, in the next week or so. So if you’re interested in coming into this deal of becoming a One member, it’s not expensive, guys. I’ll tell you the price. It’s $5,000 for the whole year. You get access to our Kersio One Wealth Forum, which you have every year. We had our first conference last year. It was fantastic. 125 people. It was probably a billion and a half dollars in a room. Every company I have private investments, I interviewed everyone on stage.

Frank Curzio 42:22

I didn’t just let them go on there and, and do a presentation ’cause that’s boring. I interviewed every single CEO, asked ’em lots of questions, opened it up to, to, to everyone out there. There’s no egos in a room. Uh, such networking. Companies actually raise money when they’re there. Uh, and you also have access to all our products and services for 5,000. If you look at our competitors, uh, they charge one product for 5,000.

Frank Curzio 42:41

You get all of our products and services, all our newsletters for that price. Um, so if you’re interested in coming in, email me at frank@curzioresearch.com, because I talk to every member. You also have direct access to me. You have my phone number. We provide everything in DocuSign for you. We tell you about how you’re gonna get the certificates, the wiring instructions.

Frank Curzio 43:00

We’ll let you know where the wire’s there. We do all this stuff for you, high-end services, uh, and giving these, you know, giving people access to this based on what? A lot of mistakes, people that I funded in the past. You learn a lot. You get your ass kicked. But this is high-risk Grand Slam reward. You need one of these and it funds the next 20,right? And,

Frank Curzio 43:19

and, you know, this is where I built up most of my wealth, is investing in theright private companies. And I’m investing my own money in these deals. So you’re investing alongside of me. I don’t get paid by these companies. So if they don’t do good, I’m losing my money. So we all have our stakes aligned, which is cool. And man, there’s so many great members and so many people have come into this membership as we build it out.

Frank Curzio 43:37

So if you’re interested in learning more about Kathy, we can send you the documents. I do it very quickly if you’re coming in. Even so, we come out maybe four deals, three, four, five deals. They could be two deals. I turn away probably 90% of the deals that I look for private deals. Uh, we make sure that there’s a liquidity period in the next few years. And this one’s probably gonna have a liquidity period, I would say, within two to three years,

Frank Curzio 43:56

much quicker than the average, which is seven to 10 years. This way you don’t have your money locked up. But really, really exciting stuff with Kathy. It’s, it’s, you know, when people saw the story and our members saw the story, we, we never raise money that fast, 2 million a week. Uh, but the story’s that fascinating. The management team’s great. They’re responsive. Anyone who has questions and stuff, you get to talk directly to them.

Frank Curzio 44:15

But I talk to everyone before you come in to make sure this membership’sright for you. And I’ve turned away probably about 20% of people because they can only invest in one deal. And usually the minimum’s $25,000. If you can, it, it makes no sense for me to say, okay, well, I wanna take the $5,000 and, you know, and you’re only gonna get in one deal and you’re gonna call me and be like, you know, every single day, how the deal’s doing.

Frank Curzio 44:35

We’re not, you know, it’s not in our best interest, not in your best interest. I don’t want that for you. Uh, for me, this is, you know, a credit investors who wanna get into great private placement deals, the ones that I’m getting into investing my own money in. That’s what this membership provides. And it’s by far our fastest growing membership. And we’re getting lots of credit investors. It’s a lot of funright now ’cause we’re getting into a lot, a lot of good deals. So that’s, uh, yeah, glad you asked about Kathy.

Daniel Creech 44:56

Yes, sir. Allright. We’ll get back to stocks. Frank, you know this is coming. We have several, uh, Jason and, well, everybody that sends in questions ask about RAP, Frank. You know that? Yeah. RAP. A lot of, a lot of positive news coming out. Are they ever gonna get a deal? All that good stuff. What’s up with RAP? Look, RAP we had for a long time. And, and this is a, you know, and I, I fucked up on this one,right?

Frank Curzio 45:15

I mean, I held it for a really, really long time, guys. And you guys and, and, and investors. And listen, I don’t mind. Like, I don’t mind if people say, Frank, you’re in RAP. And, and, you know, it was a lot higher. And, and, you know, they, they’re pissed off. This is my stock of the year when it was about 2.25 and it went to three and then it came back down. They did a financing at, at $2. Uh, but the reason why you do financings, financings are okay.

Frank Curzio 45:35

Dilution’s okay. It depends what you’re using the money for. If you’re using it to pay lawyers or fees and stuff like that or you have lots of debt, you know, get the hell out of the stock. These guys did it because they, they need to build up inventory ’cause they’re anticipating new orders. And they did this pretty much like three, four months ago. And now you’re looking at, if you look at their news flow, just signed, I think it’s yesterday, Deal with Canada to sell drones with RAPs.

Frank Curzio 45:56

They have drones with RAPs that shoot ’em like crazy. They’re gonna start putting these all over schools as well. This way it’s a much quicker response. These drones come out if you see a shooter and they have like eight to 10 RAPs, buh, buh, buh, buh, buh, buh,right? And then you can jump on the freaking guy, you know, ’cause every second counts, especially when it comes to schools and stuff. Another contract in India they just signed. Uh, and, you know, a lot of people are pissed off ’cause this company went through three management teams.

Frank Curzio 46:17

They had problems with, uh, and that was Scott Cohen up there. They had problems with their, their financials, which they got an order. And this is, uh, about two years ago. So there’s been a lot of setbacks. But the thesis has always remained that the BOLA RAP, if you look at situations and they have them on their site where just a, a week ago I saw with some, you know, heavyset guy was out there,

Frank Curzio 46:36

he had a knife and they’re like, drop the knife, drop the knife. And it was like, drop the knife, drop the knife, drop the knife. And is this it? Oh, no, it’s a different one. And he didn’t wanna drop the knife. And they lit ’em up because he started walking towards them and, and they lit ’em up. And, and a cop doesn’t wanna take out his gun. I’ve interviewed 20 cops, chief, the chief of chief of polices and everything. I have done a lot of research. They could have wrapped ’em up pretty easily, two, three wraps.

Frank Curzio 46:57

And then you jump on ’em. And then it’s best for the police departments. They’re not gonna get sued. Best politics because everyone wants it black on white, white on black, whatever it is. It’s gonna be out there in politics and, and all this shit. You’re gonna see different views of different cameras. They don’t show you the whole thing,right, to get people pissed off at each other. The de-escalation training is huge because it’s not just selling a BOLA RAP.

Frank Curzio 47:15

It’s a de-escalation that they have trained. And now you’re seeing a, like, almost like an Axon package together. So now you have drones. You have the BOLA RAP. You have the training. Uh, you know, they also have Japan orders, Chile orders, all in the past few months. And again, you have this kind of capitulation where I’m done with this stock.

Frank Curzio 47:35

And usually that’s kind of where it isright now. I think that the stock’s a steal here. I think this is a $10 stock. I really still think that by the end of the year because of the orders that they’re getting, I can’t see their next few quarters not being great because we’ve never seen order flow like this, like they’re gettingright now. It just is a lot of people are like, hey, I’m out of this. I can’t take it no more. And I, I listen, they always say the customer’s alwaysright.

Frank Curzio 47:54

And I think they’re full of shit ’cause I’ve had customers yell at my team. And when they do, I’m gonna wreck you, okay? Especially when I’ve done a lot and answered questions for you. Don’t, don’t yell at my team. Yell at me, okay? I’m the name on the door. If you wanna yell at me for something, you can yell at me at RAP. But, and I get it. But for me, it’s my largest position by far. I own a lot of shares in this company. Um, and I’m still holding ’em. So I understand if you don’t like it, I get it.

Frank Curzio 48:15

I get you pissed off. Just, I’m telling you, just be a little bit more patient because I, it’s, yeah, when you’re raising money because you want, you need to increase inventory, you’re expecting more orders. And international orders are coming in. Domestic orders are coming in. The drone orders, they just announced a few of those. They just built a new facility just in Florida just for drones. So they, they cash strapped.

Frank Curzio 48:35

They have a great management team finally. And it’s not just BOLA RAP sales. It’s de-escalating trading, which is so freaking massiveright now with everything, especially with DHS,right? And if they get one of these orders from DHS, it’s gonna be a $20, $30 million order. This thing goes to $5, $6. And you could trace back and connect the dots that they are actually talking,right? And you could see it, uh, and even with drones and everything.

Frank Curzio 48:55

So if this company does get any of those orders, this is some, one of those orders is gonna go through the roof. And, and I think, you know, that’s what I, there’s no hope here. You just have international orders that should, this stock should be trading over $3right now. Any of those orders and this thing’s really, really gonna pop. And you’re gonna thank me. And hopefully, uh, that happens this year because I am losing my patience with management. Gonna write out the rest of this year.

Frank Curzio 49:14

But I think this stock’s gonna go a lot higher. Uh, and I’m sticking by it. And look, believe me, if anyone’s in this, I guarantee you that I’m losing more. I have more, a lot more shares than you. Uh, and, um, you know, so I, I feel the pain, but I’m still in this thing. And I think it’s gonna go a lot higher because now you’re seeing it. It’s tangible. You’re seeing the orders. It’s not like, what if they get this? What if they get?

Frank Curzio 49:33

They’re actually getting the orders. Just look at their news flow over the past three months, all orders,right? So the quarters going forward should be higher and higher and higher and higher. If they get one of these big ones, this thing’s really gonna take off. The old misery loves company there in the, uh, RAP there. Listen, when we’re wrong, that’s one of the reasons why they, we like, you know, people like the podcast because you gotta address that.

Frank Curzio 49:52

I, I, I don’t know who was on TV today, Daniel. It was some, I, I was listening to it on the way in. It was a Fed official. And it was, it was a woman. And she was talking about oil and inflation and going how, you know, you can’t compare the past models to now because, you know, net, you know, we, we, uh, we export, we’re net exporter of oil. But what she said was the first time I heard this from a Fed official or a politician.

Frank Curzio 50:12

And she said, and they were like, you know, what about inflation? And she’s like, well, you know, with the transitory, we were wrong. She’s like, I was on the, on the board. And I don’t know who it was. She’s like, I was on the board when we thought it was gonna be deflationary. And she goes, we got that wrong. And that’s great because if you say you got it wrong, then you could learn from that mistake. But when we have politicians, even when they’re wrong and they can’t say anything ’cause they’re afraid to lose votes or whatever,

Frank Curzio 50:33

it’s gonna get thrown in their face. You know, in investing, embrace your mistakes ’cause it’s gonna make you a better investor going forward. It’s really important. And for us, we always say, okay, we fucked this up. Allright, here’s what we got wrong. And when you do that, you become a much better investor. And it’s not like we’re saying it because we want sympathy or it, it’s for me, it’s, you know, saying it out loud and being able to address it and check your ego at the door.

Frank Curzio 50:52

It’s the reason why I’ve been doing this for 30 years because you only get great at something by learning from those mistakes and not making them twice. And, uh, that’s a very, very important part of investing. If you get something wrong, look at it. Don’t hold on. Have stop losses. It’s not the perfect, you know, formula. But once you lose your money, you’re gone. You wanna limit it because not only when these stocks are down 50%,

Frank Curzio 51:11

100%, not 100%, but 70%, it, it takes up your whole life ’cause you’re looking at, should I buy more? Okay, you bought more. It’s down more. You’re focusing on this one stock when there’s millions of others that could be doing great. And you’re focusing on one stock. Definitely use stop losses on your stock. Uh, we do 35 cent stop losses on small caps, maybe 15 to 25 on, on trading, uh, and large caps and stuff.

Frank Curzio 51:33

But this way you limit your losses ’cause you could always come back, make the money back, and always get back into the situation. But it gives you this, you know, hey, let me get back. No emotions. Okay, we’re out of this stock. Uh, you know, very, very important lessons that I’ve learned over my career and why I’ve been doing this for 30 years. You know why she admitted they were wrong on the transitory inflation? It’s ’cause she’s no longer on the board. That’s why.

Daniel Creech 51:52

Yeah. Yeah. Better late than never, I guess. Yeah. Not on this side of the table, Frank. Daniel, I love it. I love when Daniel talks politics. Do not give them the benefit of doubt. They do not deserve it. I get it. Do not deserve it. Political. You’re gonna love Daniel on, on politics. Here we go. Moving on. Jason’s got a good question for you. Good job. I’m doing the questions here, Frank. You stay on your side over there.

Daniel Creech 52:11

Good. Uh, Jason says, I want to consider TAM, Total Addressable Markets, what he’s talking about in my research of new ideas. I understand the concept vaguely. I don’t understand the factors that I should be looking for. Frank, we talk a lot. Jason also says he likes live unplug. Thank you. But, uh, Frank, we talk about a lot, a lot about TAM, especially with AI.

Daniel Creech 52:31

You’ve even been on record for saying you really can’t see the end. Break down your TAM thesis and help him look for it. Yeah. Your total addressable market is, is the key. That’s one of the biggest factors you could look at because it’s, you know, every company looks at a total addressable market. They should have in the presentation and what’s the percentage they can capture and that’s the revenue growth that you see.

Frank Curzio 52:48

When I look at Kathy, I’m not looking at a company that’s trying to become a competitor to some of the other companies out there to do this decaffeination process. They’re like the Netflix. They’re gonna become the industry. They’re gonna disrupt the whole entire industry if they get itright. There’s execution risk. There’s lots of risks,right? Of course. I’m not saying it’s a given. But if Kathy gets thisright, they’re the industry. That’s why I made,

Frank Curzio 53:07

I got wrong with Netflix early on, like, like 15 years ago. When I was looking at Netflix, I was comparing it to cable companies, going like, why, why are they trading at such a high value? They’re trading at 40 times forward earnings. Cable companies are trading at 12, 13, 14 times earnings. It’s because I was looking at cable companies and, and, and I shouldn’t have been comparing the cable companies. It’s, I should have compared ’em to the total addressable market because Netflix became the market.

Frank Curzio 53:28

And look what happened after that, where every single company has, it now has streaming,right? So they are the main player in streaming,right? And if you looked at that way and said, wow, they’re gonna capture this, just like it’s why when you look at valuations, why you would never buy a Tesla. But when you, when you see that the big guys could not compete and they cannot scale. There’s only one other company in the US that could scale EVs.

Frank Curzio 53:48

That’s Rivian. That’s why it’s starting to take offright now. Uh, you know, and then you look at Tesla and you look at everything else with, you know, Optimus. You look at, you know, Robotaxis. And that’s, you know, it’s this future. It’s this massive growth of, imagine, you know, billions and billions of these Optimus robots every place,right? And you’re looking at its total addressable market. And Tesla’s gonna have a big chunk, chunk of that.

Frank Curzio 54:09

You could say the same thing with Robinhood when they decided to say, hey, no freeze. They disrupted the whole industry,right? And that’s why that company did fantastic, uh, and became a major player with disruption. So you always wanna look at your total addressable market, not necessarily a PE ratio when your stock’s trading at 40, 50 times. ‘Cause I could tell you, you would never have one of the stocks in a technology sector if you believe that,right?

Frank Curzio 54:29

Because all those companies that have, have, that, that have rocketed, you know, through the roof had very high valuations. And I learned that from Kramer, believe it or not, ’cause my dad was a pure value guy. And my dad, my, you know, I learned from my late dad for 30 years. And then, you know, after he passed, I went to Kramer for five years and learned he’s a pure growth guy. And combining those two,

Frank Curzio 54:48

I didn’t realize it at the time, allows you to really understand the markets where value is definitely important. Of course it is. But you wanna look at PE ratios where you can never look at a PE ratio alone. You have to look at the growth rate of a company and look at the total addressable market of what it’s able to capture. That’s why a lot of people got out of Nvidia. Nvidia is the market for chips. Uh, and if you look at Nvidia,

Frank Curzio 55:07

4 point whatever, $5, $7 trillion, you know, uh, uh, whatever, they’re gonna control the high-end chips. But you know who’s catching up is AMD finally. I hated AMD for a while. Throw, put, show the market cap of Nvidia really quick, Joe. If you scroll down, was it 4 point, 4.5 trillion? So, you know, and look at the revenue.

Frank Curzio 55:26

Where’s the revenue? It’s 215 billion. So, you know, if you write that down, say 200 billion, this way I remember. Now go into AMD. So AMD finally, AMD is making chips that, that hyperscalers are using. And, and you look at, at AMD, this is why I love AMD here, at 205, you know, scroll down and look at their market cap.

Frank Curzio 55:45

Is what, 350? Yeah, 3, 330, 330 billion. And look at their revenue, 34 billion. I mean, so, you know, they just have to capture really 5% of this market, 7%, 10% of this market. And you’re gonna see this stock go to $300. So, you know, instead of looking at the fundamentals and, and go down, ’cause I bet you AMD’s an expensive stock,right?

Frank Curzio 56:04

What is it now? What is it trading at, at 30 times forward earnings? The market’s trading a lot, 21 times forward earnings. So, you know, you have the premium there. And people are like, this is an expensive stock. They have massive growth. If they could figure it out, which they have, they’re starting to get huge orders now,right? Now they can compete. Now Nvidia has like, you know, I wouldn’t say a real competitor ’cause they still control most of the market.

Frank Curzio 56:23

Everyone’s gonna go to them. But the more Nvidia signs up, the more capacity they need. And if they can’t fill those orders, then people might look for AMD and say, wait, these chips are kind of comparable now. And they’re not comparable yet, but they’re getting better and better where AMD was so late to the party and just focused on chips and not the software and the whole, you know, infrastructure around it. But I love AMD here because I think it’s a much better buy than Nvidia,

Frank Curzio 56:44

uh, because I’m looking at a total addressable market. And I think they can capture, uh, you know, a, a pretty nice percentage of it, which, you know, is an AI, which by the way, is the only technology I’ve ever seen that has infinite scalability. Think about that for a minute, infinite scalability. Because if you look at iPhones, allright, the, the scalability is so everyone could own an iPhone.

Frank Curzio 57:05

Take out, you know, 5% of people who are over 90 and people who are under 13 years old or whatever,right? And that’s fine. And then you could say, okay, this is the max,right, that we can get. And then they go to services or whatever all over it, you know, if you’re Apple and Samsung. Uh, when you look at the amount being spent, they can’t see the end result because they keep increasing productivity dramatically.

Frank Curzio 57:26

And as they do that, that’s why they continue to spend. And if you don’t think that AI’s impacting this, you know, talk to the 40% of the employees that just got laid off at, at Block,right, the, from, from Dorsey. Look at, I mean, you’re looking at hyperscalers. Before this pullback, they’ve been trading all-time highs. I’ve been doing this for 30 years. I’ve never seen companies trade at all-time highs cutting employees.

Frank Curzio 57:45

They’ve been cutting employees for the last two years. Why? Because they’re seeing productivity gains. Look at college. Look at unemployment rate for colleges, for, for, for college graduates. It’s sky highright now, 6, 7%, whatever it is. It’s because all those jobs, those, those primary jobs that you get, those, those, you know, easy jobs where, you know, if you’re gonna become a lawyer and, and, you know,

Frank Curzio 58:04

paralegals and stuff, a lot of that stuff is taken by AI. So you don’t need those,right? And that’s great for companies. It sucks for people. If you don’t know AI, you’re not learning about this stuff. But companies are looking for productivity, how do they increase productivity? How do they lower in cost? How do they increase their profits, increase their revenue by lowering their costs as much as possible? And that’s why you’re gonna continue to see this spend.

Frank Curzio 58:23

Because if you’re saying, well, how could they continue? It’s 600 billion. That’s insane. Everyone, you know, you got, you know, all the bears out there. Well, put up a chart of Google, which is Alphabet. I mean, when did they come out with 2.5? Probably a year ago. Okay, now you look, put a year chart and then hit comparison for the S&P 500.

Frank Curzio 58:45

Okay. And look at that. What, what are we saying? What are the percentages there? 86 and 20. So 86%. Now that 86% growth,right? And that money that Alphabet spent, why they’re spending so much, that increased their market cap, go down. Okay. And look at that growth and look at their market cap, almost $4 trillion,right? They increased their market cap by 25, almost a trillion.

Frank Curzio 59:05

So you’re wondering why Amazon’s spending 200 billion. You wonder why Meta’s increasing their spending. You wonder why Oracle is increasing their spending. It’s because when they get itright and new models come out, look at Claude. It just disrupted how many industries. The whole software industry got killed as soon as Claude released their last release. Gemini came out with 2.5. Now it’s 3.5. And it’s unbelievable what they could do with videos,right? So, so, you know, why are they spending so much?

Frank Curzio 59:26

Because the new model that comes out, you’re able to increase your market cap by a trillion freaking dollars. And if you look at the results, that they’re all competing. Microsoft is switching to Anthropic. Remember, they were OpenAI. They’re always gonna go to the best system that’s gonna provide them the best productivity. And it’s forcing these hyperscalers to compete against each other and spend and spend and outspend and outspend to have the best systems available,

Frank Curzio 59:46

which at the end of the day is gonna be great for customers ’cause you have companies competing to provide better services. But also you’re seeing the results for these companies as well, uh, because, you know, it’s all about data. It’s all about, you know, Alphabet has tons of data, all the searches, everything. They, they, they, they steal everything from you,right? They’ll get fined for a couple billion and make hundreds of billions. Uh, you look at Microsoft,

Frank Curzio 01:00:06

they try to update my computer like every three weeks and stuff, even though I have every single thing saying, don’t update it to the next Windows or whatever. It, it finds ways to break through illegally. Uh, you know, these guys wanna freaking steal your data. If you look at any private policy, they’re gonna say, wanna sell all your shit, everything. That’s basically you break it down. Get, get a lawyer to break it down. It’s like it’s selling everything. We’re gonna steal everything from you. Sell it to third parties.

Frank Curzio 01:00:25

Now you have Alphabet. Now they’re able to predict every single thing that you’re gonna do pretty much minute by minute. You know, social media, Meta. I can’t believe still to this day, 3.8 billion. How do they have 3.8 billion accounts when you’re looking at Instagram and everything else? And all, what do these people do? They post their whole entire fucking life on it.

Frank Curzio 01:00:44

Oh, this is where I’m checking inright here. This is where I’mright now. They go on vacation at the same time,right? We’re creatures of habit. We drink coffee at the same time. We go to bed at the same time. We wake up in the morning. We do the same things. And we post every single thing. And we hit what we like. Now throw it to AI systems, which, you know, could, could analyze data at a thousand times a second. And they actually know exactly what you’re gonna do, where you’re gonna go.

Frank Curzio 01:01:03

And that’s, that’s, you know, that’s what every single advertiser in the world, every single business wants to know. Instead of advertising on a commercial, you don’t even know who the hell’s watching the golf channel when you’re, when you’re advertising,right? You have no idea. But now you go into Meta and your Starbucks and they say, well, we have 4 million people that are in your storeright this second. What do you wanna tell them? We could text themright now. And all this data gets filtered into AI.

Frank Curzio 01:01:22

And now these AI names and these names on lists, like look what Reddit, when Reddit signed a deal,right? Reddit just signed a deal with Google. Look, Reddit took off. They didn’t make money for 20 years as an online company, which is the only online company that, that have done it ever. And now that stock took off. If you look at the gap, went up a lot higher over the past year. Then went down a couple days ago.

Frank Curzio 01:01:41

Uh, the dollar stores, look at dollar stores. As soon as they started like saying, hey, you know, we have this data. We don’t know how to build AI systems. Let’s give it to, to Google. Let’s give it to Meta. Let’s give it to these other companies. Their stock soared because they’ve seen such great results ’cause now they could target their audiences even better and increase productivity. And that trend is just, it’s unlimited scalability.

Frank Curzio 01:02:01

We’re not, we can’t see the end of it yet, which is incredible. I’ve never seen a trend like this in my life. Never seen a trend like that. Seriously, I’ve never seen a trend like that. You mentioned him here. Let’s talk. Uh, John says, hey, Frank, you said that you used to work for Kramer, Jim Kramer. Do you keep in contact? And here’s key, do you watch him daily? No, I don’t watch him daily.

Frank Curzio 01:02:20

Hmm. No. Um, a lot of people hate Kramer. A lot of people. They, they have like these inverse things with Kramer. And I was a research analyst for five years. And I could say this, like, like, there’s no me without Kramer, without learning from Kramer. So I’ve always treated people the way that they’ve treated me, okay?

Frank Curzio 01:02:39

And, and I don’t care how they treated other people,right? So, ’cause you only hear one side of the story anyway. What he’s done for my career and what I’ve learned from him, and he, he was tough to work for. He’s a tough boss. But what I’ve learned from him and been able to carry over to, you know, running my business, analyzing stocks, having a great track record, and taking also what my father learned from me, uh, it’s incredible.

Frank Curzio 01:02:59

So when I look at Jim, yes, I talked to him. I, I, I, I texted him for his, uh, you know, I think it was the 25th anniversary show. And he sent some really nice message, you know, from one professional to another. I really appreciate this. Uh, he was, he went to my wedding. Uh, you know, he’s, um, you know, he’s a tough boss to work for. But, uh, for me personally, uh, you know, I owe a lot to him.

Frank Curzio 01:03:18

And, and, you know, I’ve, I’ve gotten to meetings, uh, went to the New York Stock Exchange and watched people ring the bell and stuff and have access to everyone. And remember our job, think about when you watch that show in the lightning round, then you take the three segments,right? And, and, and you go through all those segments and, and all the data. That’s us researching all those stocks every single day, like thousands of stocks.

Frank Curzio 01:03:38

So we were forced to learn every stock, every industry, everything, you know? And it was just, it was incredible just to learn all that stuff. And, and, and, you know, forcing me to learn what uranium was 15 years ago. And now look, you know, what uranium has done is incredible. Like we, we’ve had UEC and people still thank me when I go to conferences. We hadn’t low single digits and wherever it is now, you know, in teens.

Frank Curzio 01:03:58

And, and it’s, you know, so learning about all these industries and being forced to learn and expanding your reach where if you look at analysts at, at, at JP Morgan or, or Goldman Sachs, they cover a certain sector, you know, that’s really nice. Oh, we only cover software stocks. We only cover, you know, just whatever, mining stocks. We had to cover everything. And, and we had to know this stuff in detail.

Frank Curzio 01:04:18

We had access to all the reports from JP Morgan, Goldman Sachs, all the sell-side analysts, you know, learning about earnings and total addressable market and things like that has helped tremendously in throwing in like the value that I learned, a pure value invested by my father. It’s, for me, it’s helped me incredibly. I’ve built a, a nice career, a nice life out of it, being successful. And, uh, you know, I owe a lot of that to Kramer.

Frank Curzio 01:04:39

And, uh, you know, for that, I, I thank him. And, and yeah, he can, I don’t agree with him. It doesn’t matter. I mean, we’re in a, in, in, in a world where if you agree, if you don’t agree, you gotta hate them. I don’t hate people. I love when people disagree. I love when, when people wanna challenge my thesis. Usually I’m gonna beright when they challenge. I hate when I recommend a stock and everyone’s like, Frank, that’s the best stock you ever recommended. I’m like, oh shit.

Frank Curzio 01:04:58

I’m like, this thing’s gonna crash. But I like it when people are like, no, are you sure? Are you crazy? This and that. I don’t know. That, that’s, it’s nuts. And Netflix, you know, Netflix is screaming by now. Now, I mean, Netflix isn’t Oracle. I mean, you look at Oracle. Oracle’s used to, has been a rollup for, for, for 30 years,right? So they know how to integrate companies and immediately get those results. That’s an art. It’s very difficult to do.

Frank Curzio 01:05:18

And Netflix never did that anymore, did that before. And you know how hard it’s incorporate media assets, sell ’em off, different management teams, uh, running different segments. And now you go back to what? They, they just starting to generate money through advertising. That’s in its infancy. It’s in the first, second inning. And you have this massive growth going forward. You have all this cash they can give back to investors. You could acquire some other companies.

Frank Curzio 01:05:39

But a big acquisition by Netflix for a company that doesn’t do that at all, uh, I’m glad they got rid of it. And I think this stock’s easily, easily gonna go back to 120, 130, uh, to its highs now that they no longer have that act. ‘Cause I mean, advertising dollars, they’re just gonna take off. And by far the best streaming platform, the best streaming’s all about new content, guys.

Frank Curzio 01:05:57

They have the greatest new content on Netflix, Paramount as well, and Warner Brothers. Disney’s dead. They’re dead in the water. Uh, they can’t compete because their best stuff comes out in the movies first. They’re done. You know, I always say that. We’ve been saying it since 2008. We’re in 760. And people have been yelling at me. And that stock has done, put a public chart of Disney really quick. I, every, everybody lasts a good at Disney ’cause I’ve been destroying this guy.

Frank Curzio 01:06:16

I, I love, it’s, it should be the greatest company on earth. Put up a, a chart of, of go all. Look at this shit. I mean, look where that stock is at 2015, ’16. Go all. Not even five years. Go all. So you got two, it’s, it’s trade level, same levels as 2015, ’16. Are you kidding me?

Frank Curzio 01:06:35

I mean, you’re better off like putting your money in a money market account. You would’ve been better. And the whole rise in Disney was all bullshit because there was sign and subscribers. Chapek was lying to everyone saying, oh, we got 200 million subscribers. They were paying like a dollar average revenue per user. Nobody cared back then ’cause it was COVID. And then, you know, he got fired. We said he was gonna get fired. And this stock’s been dog shit ever since. So, you know, until they get outta streaming and start licensing all that content,

Frank Curzio 01:06:55

they’ll be better off. You can’t compete in streaming if your best material comes out in the movies first,right? That doesn’t happen with Netflix. It doesn’t really happen with Warner Brothers. It doesn’t happen on Paramount. Uh, you know, but it happens with Disney. And they keep pushing this issue where they should be opening up 75 parks a year, which they, you know what I mean, uh, and start focusing on licensing out their content. But as long as they’re in streaming, this company’s always gonna get nailed.

Frank Curzio 01:07:15

And, and, and there’s really no growth market here because they’re competing literally with the biggest companies in the world, which is Prime, you know, which is, is, is YouTube TV, you know, which Hulu can’t compete with them,right? So they don’t have content coming out. They’re cutting content costs. They raised their prices more than anyone in the industry. And they’re doing commercials all over this shit. So you’re destroying your product. You’re making a worse experience for people.

Frank Curzio 01:07:34

And you’re raising prices. What do you think’s gonna happen? It’s a reason why Walt Disney said, hey, you know what? Going forward, we’re not gonna report our subscriber numbers. Yeah. I wonder why. Anyway, Netflix is the king of this industry. I don’t know how we got all the way there. I feel like it always gets to Disney somehow. I don’t know what the original fucking question was, but we really got a couple of hours.

Frank Curzio 01:07:53

A couple of hours. We usually have the podcast for an hour. Uh, it’s on iTunes for free if you guys wanna watch, uh, and, and YouTube. And, you know, it’s always videos. And we keep it edgy and, and fun and stuff. And, um, we do lots of interviews as well. So, uh, you know, if you guys wanna watch, you go to, to, to Spotify, YouTube, wherever, uh, to watch us and, and, and, um, and iTunes and stuff.

Daniel Creech 01:08:13

But, uh, we usually do it for an hour, but we’ll take a couple more questions before we go. We’ll do at least one more. ‘Cause you mentioned this. So Chris asked, hey, did you see UEC’s earnings yesterday? I don’t know if you did. I didn’t. But I, I wanted to ask this because I like your thesis on the, uh, Trump circle. Uh, I didn’t see their earnings,right? So this stock has pulled back. It’s now around $13, $14.

Frank Curzio 01:08:33

And it was high as $20. What Amir Adnani’s doing, he’s, Amir Adnani’s is a very, very close friend. And that’s not the reason why I like the stock. Um, I like it because he’s one of the hardest workers. And when uranium sucked for 13 years after Fukushima, uh, instead of people calling me the uranium industry, telling me they have a great marijuana pick for me to invest in or a great biotech to invest in,

Frank Curzio 01:08:55

uh, he was signing tons of deals and buying assets for 10 cents on a dollar in the uranium industry and building this thing up. Uh, having conferences, I see him at conferences where people will speak and a CEO will leave. You never talk to him. He’s actually at the booth talking to investors all day. What I love about UEC, which I think this is gonna be a $50, you know, listen, I said this thing was gonna go a lot higher.

Frank Curzio 01:09:15

I think probably like $2. Maybe we started, uh, you know, recommending this many years ago. Uh, and, and look where it is. And it went as high as $20. This is a $50 stock because of what the next step is. ‘Causeright now uranium in the US is meaningless because there’s no processing,right? So you, there’s no, uh, you know, refining it.

Frank Curzio 01:09:34

And when you don’t have that, I mean, electricity companies buy it and they get it refined, whatever. What Amir wants to do is open up the first ever refining uranium, uh, plant in the United States because we have one only. I think it’s Illinois, which is, and, and, and it goes down. And I think it’s like 70 years old, 60 years old. And it goes down sometimes. If he does that, it’s not just UEC, but all uranium companies are gonna have to come to him.

Frank Curzio 01:09:55

And we have a massive shitload of uranium in the United States, okay? If you’re looking at seventies, all the oil companies produce uranium ’cause it’s a byproduct of oil. And then they had, you know, everybody worried about uranium. And they shed those assets. We know where it is. I mean, I’ve seen this. He’s got boxes of sign of, of geologists written notes and everything,right?

Frank Curzio 01:10:13

It’s, I’ve seen it. It’s like hundreds of boxes, thousands of boxes from, from projects that he bought. We just had this stigma, like everyone’s gonna die if we produce uranium,right? The Democrats were like, don’t ever produce it. We’re all gonna die because, you know, whatever, which is bullshit. It’s the, the cheapest base load power 24/7. So solar’s not base load because sun’s gotta be out, wind, wind’s gotta blow, water’s gotta run with hydro.

Frank Curzio 01:10:34

So, you know, you’re seeing this massive push now because we, we’re in dire need of energy. And, you know, now he’s talking to hyperscalers. I mean, that plant is not gonna cost that much. And I, I’m predicting that Donald Trump and this administration is gonna make an investment in UEC. Once they see this come out and see how much it costs,

Frank Curzio 01:10:54

it’s gonna probably gonna cost a few billion dollars. Uh, they invested billions of dollars in, in lithium and, and, and railroads already. ‘Cause once they do that, the US is gonna control their own, their own supply and be able to refine it. And UEC’s gonna be the king of this market. Uh, and it’s gonna be even bigger than Cameco. And, and that’s gonna happen. It’s gonna take some time.

Frank Curzio 01:11:13

But that’s a great entrepreneur thinking about the future where you went from $2 to $13. Now you have hyperscales and everything. You know, most people would be high five and be like, hey, we did it. Do you wanna sell our company to Cameco? He’s not looking at that. He’s like, what’s the next 10 years gonna look like? He’s like, we don’t have another refining plant. Uh, if we don’t have a processing plant for uranium,

Frank Curzio 01:11:32

then none of this shit matters in the US, no matter how much is produced. And we are fixed on putting money, the government, even both sides now, even the Democrats, they’re both bipartisan pushing more uranium usage, you know, more permits. And Trump could really accelerate this process where in three to four years we could have this thing built. Through uranium energy,

Frank Curzio 01:11:51

he has great ties ’cause he has a secretary, former secretary of energy, Spencer Abraham, who I met personally. Great guy. Really great guy. He’s funny as hell. Uh, on, on their board,right? His advisor, um, and he’s on the board. And, uh, their future of this company, this is a company that you wanna buy, especially on this pullback. Nicely buy here and just hold and forget about it just like you did 10 years ago.

Frank Curzio 01:12:11

And you’ll thank me. And, and you’ll be up, uh, probably another 5X on top of the 10X you were up when I told you when I first started recommending this. I still get thanked at conferences when I go there for uranium energy. Long-term play, you gotta see the volatility. But now that this thing has pulled back to this level, it’s a screaming, screaming buy. If you’re gonna hold it longer than a year and a half. Yeah. That is a big winner.

Daniel Creech 01:12:31

I even get some credit for that. I pass it on to you, of course, Frank, but I even care about UEC. The losers you keep, Daniel,right? Yeah. I know. That’s the deal. I pay Daniel, Daniel and Cursy Research. Any, anyone pissed off, daniel@curzioresearch.com. You wanna see happy things? Frank@curzioresearch.com. That’sright. Allright. You wanna do one more or what are you thinking?

Daniel Creech 01:12:49

We got a, uh, house cleaning question here. Yeah. You wanna take that? Matt says, hey, when are you guys combining all the newsletters? I’m a CRA member. I want access to more portfolios. I’m taking water ’cause I feel like I’m Jim Carrey about to go, what I would ’cause so here’s what we’re doing, okay? I’ve been in this industry my whole entire life.

Frank Curzio 01:13:10

And this industry, about 12 years ago, set up to where they are going to think more about sales and, and much less about their, their customers. Uh, and that sucks, allright? And that’s good for everyone else outside of you. And this is what we care about. This is what we build our brand on. Uh, so, you know, the model is having a low-priced newsletter, have something free,

Frank Curzio 01:13:29

try to get your email, sell ’em a low-priced newsletter, just take out your credit card. And then usually when you do, your percentages go higher that that person’s gonna pay $1,000. And then you upsell ’em to $5,000 on and on. So what you have are companies that created 25 different products,right? And you’ll have one editor, which is amazing ’cause I know some of these guys are working in this industry. And they’re editor of like, you know, 12 different products, which if you have two or three products, it’s a lot.

Frank Curzio 01:13:49

I have three. And you see me do videos on my products. So instead of doing this, what we realized is we had a crypto product. And we just shut down our crypto product ’cause crypto has been doing terrible. I’ve made a fortune in it. We’ve had unbelievable gains in it. But the landscape has changed where even we buy the best of the best. We said 92% of this is shit, but it’s worth the risk because you can get 10X,

Frank Curzio 01:14:08

20X, 30X gains, which we’ve had in this newsletter before. I’ve made unbelievable returns. The last nine months, if you own crypto, you’re pissed. The whole industry’s collapsed, which is my fault. It’s my product. Doesn’t matter about the industry. I’m not blaming anybody else. So however, we have a small cap newsletter that’s killing it. We have an AI newsletter that’s killing it. We have a trading newsletter that’s great. We have a large cap newsletter that’s great.

Frank Curzio 01:14:29

And then, you know, when I take a step back and look and I’m like, okay, we have all these different products. And I could do that. I could launch 12 different products and charge you 1,000, 2,000, 3,000. It’s a lot more revenue for us. And then what happens is a lot of these products will get closed. We see that at our competitors or the editors, like, I can’t do this anymore. And, you know, and what does that?

Frank Curzio 01:14:47

They push whatever. They push onto another product and on and on and on. Again, there’s not a lot of care for them. For me, I created this company. And I don’t need to work anymore. I really don’t. I could retire if I want. I just love what I do. For me, I wanted to create a product where I wanna make you money. And to do that, you know, if you have crypto, you’re pissed if you only had crypto. But if you have everything else, you’re good.

Frank Curzio 01:15:06

So what we decided to do is combine all these products and make a portfolio of like 25, 30 stocks. Well, you’re gonna see crypto. You’re gonna see AI names. You’re gonna see small caps. You’re gonna see large caps. And maybe we have another newsletter for trading opportunities ’cause it’s that different. And this way we charge one price, which is gonna be $2,500, which a lot of companies charge $2,500 just one product. And it’s like you have 10 products. So when I decided to close and,

Frank Curzio 01:15:27

and, and shut the crypto product, I got some negative feedback. People, why are you, why are you closing it for? I was like, well, you know, we just recommended Robinhood and Coinbase. And we got smoked in a month on those because it, you know, and I’m not gonna keep recommending things and, and throwing these at you and getting killed. And, and, you know, I had this rant the other day saying that, you know, most people are programmed.

Frank Curzio 01:15:46

95% of people will never make money in the market and never be successful because you’re programmed a certain way. It’s how our brains are wired,right? You wanna buy when excitement’s the highest,right? And, and, you know, when stocks are getting annihilated, you’re gonna sell at the lows,right? And you don’t do what Warren Buffett said when you wanna buy when there’s blood in the streets. It’s just, that’s how our brains are programmed. And,

Frank Curzio 01:16:06

you know, for me, I’m looking at this like, I could keep sending, I could keep this product open. I could even sell, sell it if I want. I’m sure, you know, crypto will come back a little bit. I’d rather take the best names and put ’em in one product and mix it in with everything else that’s working because I know if you have the access that I have access, well, you go anywhere you want in the market that’s working. Even the past couple of weeks,

Frank Curzio 01:16:24

you could say, well, AI has pulled back and some of the hyperscales pulled back. Oil’s on fire. Gold’s on fire,right? There’s a lot of things that are working. Software’s not. So there’s always a bull market someplace,right? And Kramer says that a lot. And he’sright because hedge fund managers can’t put money in cash. And a lot of ’em can’t even buy gold ’cause if I, if I’m paying 2% fees or whatever I’m paying and they’re putting in it gold,

Frank Curzio 01:16:44

I’m gonna remove my money ’cause I could buy gold myself and hold it for 10 years, which I do have a gold portfolio and gold coins and stuff. So when I look at the best way to serve you, it’s having access to everything that we’re great at doing. And that’s why we wanna provide one product because for me, I pay capital gain tax a lot almost every year in my life.

Frank Curzio 01:17:03

I do great in the markets. And if you have crypto, you didn’t do too great. Uh, maybe you decided by getting into AI just in the hyperscalers, which again, we only have like Google in there. We’ve done great on our returns. We had, we had Bloom Energy in there, 500 plus returns. Uh, we, Celestica, uh, from our contacts in AI saying, you know, you need switches, which is like, you know, it’s like having, you know, PVC pipes for houses.

Frank Curzio 01:17:24

You can’t build data centers. You can’t build the house without PVC. You can’t build these data centers without switches. Celestica found a way, recommended that at 40, that stock, I think we sold over $300. Uh, you know, ’cause we have great contacts in the industry that say, hey, you know what? Stop looking at switching companies ’cause we can’t find ’em anywhere. So whoever could build ’em is gonna have incredible pricing power. So, you know, why not have access to all of this?

Frank Curzio 01:17:43

‘Cause I’ve done very well having access to all the markets and providing a better product for you at a great affordable price. And I was just surprised to see that some people got pissed off at that. And I’m like, just, just please change your mindset. We’re doing this for you. It’s a cut, we’re looking at our customer first and then looking at us because it’s gonna free me to do more, which is more traveling. I told you I traveled earlier to,

Frank Curzio 01:18:02

to all the, the, all the major oil shale regions,right? This is like 2010, ’11, learned about shale incredibly, incredible. Uh, you know, I do boots on the ground research. We have three companies. We have a marketing division and, and a consulting division we’re working with. And we have three unbelievable companies that we’re working with that we’re gonna come out with that have 10X plus upside potential that are totally under the radar.

Frank Curzio 01:18:23

No analysts are covering. We’re gonna be the first analysts to cover them. And I’ve done my research and due diligence and met the management teams and everything before we decide to work with these companies and help them out and, and, you know, mark them, help them build their brand ’cause a lot of these CEOs don’t know how to do that. They know how to run a company. They’re scientists, they’re geologists. So for us, we, you know, it gives me more access, more time to focus on the research.

Frank Curzio 01:18:42

And also we have this one product constantly where we’re putting the best situations according to marketing conditions in them. That’s how we make you the most money instead of launching 15 different products and charging them. And every time we launch a product, we could launch it to a whole list and make a lot more money. But let’s do theright thing for our customers. And, um, you know, that’s what we’re doing. So we’re gonna consolidate those products. That’s a model you’re not gonna see anyplace else ’cause it,

Frank Curzio 01:19:03

it doesn’t benefit us as much. But for me, it does benefit us ’cause now we have also the one membership. We get more credit investors in there. We have a marketing aspect, which is a marketing arm which is going tremendously, uh, and consulting division. So we’re able to do this and provide a great product for someone. That’s why you’re seeing traffic across all our platforms build up. We’re getting lots of positive responses. But we wanna do what’s best for the customer.

Frank Curzio 01:19:23

It’s that simple. Uh, and, uh, for me, I was surprised I got some negative feedback. And that’s okay. But, um, yeah, at the end of the day, you do what’sright for your customers. And that’s why I’ve been in business for 30 years and, and, you know, not disappear every four or five years like a lot of newsletter writers. So yes, we’re gonna do that very, very shortly, very soon. Allright. Perfect. Another, another live episode, Frank.

Frank Curzio 01:19:42

Another live episode, guys. We appreciate everyone tuning in. We’re probably gonna do this once a month. We might do it even more based on how many people are coming in. We usually get thousands and thousands of people. I, I surprised it was so big. Uh, also this podcast is gonna go on iTunes. If you’re gonna watch it later on today, I’ll probably post around 4:00 PM. But, uh, questions or comments, feel free to email me or frankcursyresearch.com. Daniel, what’s your email?

Frank Curzio 01:20:01

Daniel@curzioresearch.com. Allright, guys. That’s it for us. And we’ll see you tomorrow. This is a paid version. It’s $10 a month, Wall Street Unplugged Premium. For everyone that’s in there, we detail stocks even more. Go into recommendations. Have a trading portfolio hooked up for that, which we’re probably gonna keep when we merge the products. But we’ll see you tomorrow on Wall Street Unplugged Premium. Take care. Thanks for tuning in.