Transcript was automatically generated.

0:00:02 – Announcer

Wall Street Unplugged looks beyond the regular headlines Heard on mainstream financial media to bring you unscripted interviews and breaking commentary direct from Wall Street right to you on Main Street. 

0:00:16 – Frank Curzio

What’s going on? There’s July 2nd. Hi, Frank Curzio, this is the Wall Street Unplugged podcast. We’re back with the headlines and Tell you what’s really moving these markets. It’s Daniel Creech. How’s it going? 

0:00:32 – Daniel Creech

Well, Frank, happy July. Did you hit any jackpots? 

0:00:35 – Frank Curzio

last week. No, no, jackpots after 30 grand? No, none of those. I’m over that. No big deal, yeah. Yeah, a lot of losses led up to that one, though. So a lot of losses led up to that one. I’ll probably give it all back at the track when I go to Saratoga next week, which is my vacation. Oh, good point. I have some nice podcast tape for you, so no worries, but yeah. 

0:00:58 – Daniel Creech

I just remembered. This is a compliment, frank’s a pyro. What are you doing for the 4th of July? You gotta be ecstatic about 4th of July. That just dawned on me. 

0:01:05 – Frank Curzio

You know what? I have a friend that I’m going to a party. I’m actually going to a party on the 4th of July, yeah, and a firework display on the 3rd actually so, but my beautiful neighborhood made sure that’s Indiana, yeah, so my beautiful neighborhood, my awesome neighborhood, made sure to send that email. Are you in a no fun zone? Yeah, the no fun neighborhood. And they said no aerial fireworks anywhere. No aerial fireworks. 

0:01:29 – Daniel Creech

You’re going to have to write that down. 

0:01:30 – Frank Curzio

to me, that means you can’t shoot them off in the air, which means I’m going to shoot up all the area. Yeah, I’m going to shoot a bunch of them. 

0:01:35 – Daniel Creech

Hey, reminder everybody, frank pays a lot of money. 

0:01:37 – Frank Curzio

The less you get right in these neighborhoods, the less you get. But it’s yeah, I’m probably going to blow him off in my neighbor’s yard, like my cross street, because I don’t like him. So this way he gets in trouble for it and I don’t think he’s going to be home because they’re like snowbirds. 

0:01:53 – Daniel Creech

That’s when children come in. Send the kids over in dark clothing, set them up in his yards and light them off remotely. 

0:01:59 – Frank Curzio

He’s one of those guys. When his house Literally you don’t even go on his property you go near it and a voice comes out and says you are close to my property, you are being taped right now. 

You can hear it like a half a block away. Every time I’m near there I make sure I trigger it like 10 times a day just to annoy him. They’re just the type of neighbors I have. Most of them are very nice, most of them are really cool. I’m getting to know them. Just the one neighbor that calls. 

And 4th of July. Of course, last year was an interesting year because I have the lights on my house and I put them red, white and blue and I can control every light and they blink and go crazy and stuff like that. And it was 4th of July, right, so celebrating America. And three different people called and said my lights were out of line. So I talked to my HOA and I actually saw them the other day. I so I talked to my HOA and I actually saw them the other day. I said I’m just letting you know you’re going to get a lot of calls on July. I’m just letting you know. So you know it’s going to be a lot worse than it was last year. So, yeah, it’s. Yeah, I don’t like when people annoy me, but anyway. So yeah, I wanted to start with this. We started an interesting story before we really get to the stocks. I don’t know if you saw this. You see the wmba. The all-star game is coming up right wmba. 

I didn’t know, okay so kate and claude received the most votes from the fans by a mile, which is expected, right, the best player ever in history by a mile, incredible. However, they also had a vote and she voted. She was voted as a ninth best not player in the league, but the ninth best guard in the league by the players. Nice, by the players who absolutely hate this girl. Yeah, and when I look at this and I see this, when you have a superstar, you always had the respect of superstars, no matter who it was. If you hated Jordan, if you hated Magic Johnson, if you hated Leather Bird or whatever, you respected them. They were great for the league. 

These people, I don’t think they understand the economics of their league, how. It’s absolutely the worst thing to watch in history, unless this girl’s playing. Really it’s unwatch. It’s an unwatchable sport and I’m into women’s sports, I have two daughters it’s unwatchable. It’s the most unwatchable sport in history, probably next to like freaking highlight, right. So I mean it’s terrible, absolutely freaking terrible. And you have this girl who’s a superstar that I put on immediately because she’s shooting threes from half court and hitting them right and the players hate her, hate her. 

You know what this league? They get exactly what they deserve. They want more money, they want private jets, they want to be like the nba and things like that. You get exactly for the players to vote her ninth as a ninth best guard, not player and I got to tell you they’re adding three new expansion teams For any of you out there and there’s hedge fund people, whatever. I’ve been asked to invest in one of these leagues as well. 

You’re an idiot investing in those leagues when you have the players against your own league, your own product, and they don’t understand that. You’re better off burning your money. Seriously, just burn your money. And they don’t understand that you’re better off burning your money. Seriously, just burn your money because that’s a league. Finally, they were dying for something. They were dying for the Superstar. The Superstar comes in. The players hate her. They’re all jealous of her. It’s racial, it’s this. They beat the crap out of her or whatever. It’s all this crap. You have a superstar that people love. She fills up the stadiums in every away place that she when she’s on the road To me. That was incredible. I just thought that was worth mentioning right at the top. 

0:05:07 – Daniel Creech

Just to add something here do you think that there’s any play or marketing angle here? Because maybe I’m giving them too much credit. But you’re right in the sense that the WNBA, this is as big and this is kind of the moment you would say somebody’s been waiting for it. You need a big event and that way you can capitalize on it. Obviously, she’s an amazing athlete doing amazing things. Do you think that some of this is planned to get marketing up? And because you know violence smells, sells, you know the the back and forth with her all the time. You know players hating her. I mean that that’s great. That only helps marketing and viewership, I would guess. Do you think there’s any? In my way, I’m giving way too much credit. You don’t think there’s a? No, I don’t think there’s. 

0:05:50 – Frank Curzio

I mean these girls don’t want her to play in the sport. Okay, right, they don’t want her to play, they’re not. It’s not like, hey, let’s fight with her and make this big thing going on. And that was good. They had a game where there was like coming, you know people coming off, like that’s fine, but these women like want her out of the league. Oh, gotcha, like they want her out of the league. 

0:06:05 – Daniel Creech

It’s not just like hey let’s like hate her. 

0:06:07 – Frank Curzio

No, and not only that, even if you want that, you’re voting as a player, which your vote is anonymous. It’s just a player’s vote. It’s not like you’re going to see who actually voted for you. It’s like, all the Well, michael Jordan was the best in the world, but it’s laughable that that’s how the players actually voted her. So it just goes to show you how much they don’t like her. They all want credit, but they don’t want to earn it. And that’s what’s great. That amazes me. Like you want to be great, you want the attention, but you don’t want to earn it. Earn it, get better Shoot, get better. Shoot from half court. So you know what I mean. There’s millions of things you could do get better and better and better, and these guys know that we just want this right. So I thought that was incredible. By the way, every stock pick that we recommend in the next couple of weeks, I think we’re going to be right on. At least, I’m going to be right on, because I did a very good thing. 

Okay, I found somebody’s wallet and it turned out to be a kid’s wallet. It was 23 years old and he had a wallet that was probably the biggest wallet I’ve ever seen in my life and I didn’t want to give it to anybody because a lot of times it was a lot of credit cards in there. First, 23 years old, he had a ton of credit cards in there. So I opened it up and he had, I think, seven or eight credit cards. But he also had his birth certificate in there. He had his girlfriend’s license in there. They’re from Missouri. 

So I’m like what happens if they’re visiting right? So I’m like this guy’s really screwed. So birth certificate, social security card, insurance, everything that you possibly could have to steal at this guy’s life right away. So I held on to it. It was over $200 in it and I said you know what, let me just wait, let me just wait, let me just much. And he tried to pay me. I was like I don’t want any money, it’s OK, just be careful. But one thing going through his wallet and seeing that a 23-year-old had about seven, eight credit cards is kind of disturbing. You know, I mean back in the day if I found that money and throwing it at whatever bar and saying, hey, there’s a free bar, you know, gave him everything back. So I’m just saying usually, hopefully, karma, you get rewarded. 

0:08:12 – Daniel Creech

Let’s see if that happens. I mean, well, frank didn’t tell you he didn’t take any money? 

0:08:19 – Frank Curzio

He just let the guy buy. But I can tell you that usually the way this happens is yeah, all my stock picks are going to crash. Usually when I help people and do things like go out of my way to do things, it usually blows up in my face. I’m like why am I doing this for? Let’s see what happens. Anyway, let’s get to the markets, because I want to start off with ADP. 

Adp is such a crappy gauge and you know when it comes to jobs, it comes out before the jobs First jobs first week comes out for the unemployment rate and every time, whether it’s positive, net growing, says it doesn’t translate into the unemployment report. Sometimes it does not all the time. However, this, this is pretty big because we’re looking at adp. They were expected 110,000 jobs, an increase of 110,000 jobs. It came in as a minus 33,000, first negative number in over two years, since march 23. Uh, you know your thoughts on it. I mean, you know when you say hey, it’s not going to translate, it just has to translate a little bit over to the unemployment rate. And if it does listen, it’s looking really, really dire for powell. 

Uh, his reasoning for not cutting rates and he keeps saying I would cut rates if there was no tariffs. You’re not seeing any inflation effects from tariffs at all for now three months and you’re basing it on something that could happen, that may happen, that you have no idea might happen, just like when you said it was going to be transitory for you and inflation is going to be transitory, saying it’s going to be transitory, it’s going to be short term, it’s going to be short term and it me. Look at an idiot. This is. He’s starting to look like an idiot. Now. The data is there across the board showing that you have to cut rates. The bond market’s telling you to cut rates. Inflation is coming down we got a little bit of a higher reading last month but everything is there for you to cut rates right now and you’re not. So what do you say about it? 

0:10:00 – Daniel Creech

It’ll be interesting to see the numbers tomorrow, obviously on the unemployment. But I think what and Frank, tell me what you think of this. I think what people need to focus on here is not the numbers but the rate of change in the numbers. So this is back to back monthly kind of negative or worse than expected numbers. Again, take it with some salt. However, if the feeling gets going forward that this is going be like, if we have another negative print, or if you think this is a trend, I don’t see how that doesn’t really help push for a rate cut in the near term. 

And, frank, I think the game Fed Chair Powell was playing and he said yesterday where was he speaking? He was overseas somewhere. I forget where he was speaking, but he was out of the country. And to your point, he reiterated again yesterday hey, if it wasn’t for tariff policy, we’d already cut rates. And that was wild to me. That again, the guy that says you don’t comment on policy and then you comment on policy cracks me up. But that’s okay. It’ll be wild to watch what Trump does with that lever and saying because he can control the tariff rate. 

But I don’t think this is a big number by itself. I think it’s a bigger number, that this is back-to-back, quote-unquote weak numbers, and I just think that the rate of change, or the difference, is more meaningful than the numbers. Because, frank, everybody, everybody is saying inflation is going to rise towards the end of the year. So if Powell’s playing this game of just waiting and then you see an uptick I don’t know, on that I think his hand’s going to be forced because I think, you know, I don’t think he’s going to be able to stand up. We’ll play and see, but I think the rate of change is bigger than the actual number. What about you? 

0:11:31 – Frank Curzio

Look, he looks at two things. He looks at his job market to determine Fed policy, and he looks at inflation. Inflation is coming down and now it’s the official announcement they’re laying off 4% of its workforce. I think it’s like 9,000 employees. And, daniel, let me ask you this question Global, how many times have you seen in your career doing this, that a major company is laying off? This amounts to 4%, almost 4% of its total workforce. How many companies lay off almost 4% of their workforce when their stock is at an all-time high? Yeah, that’s a big one when its stock is at an all-time high. Go back, because I don’t remember it happening ever Outside the past two years. It hasn’t. Why is it happening now? Guys, AI is for real, these guys, the work that AI could do for these technology companies and remember, they are spending 60 to 100 billion annually each, each company. Okay, this isn’t total. Total is over $300 billion this year. 

Okay, at the end of the day, when you spend money as a company, you have to have a return on investment. You cannot spend $60 to $100 billion and not have a return on your investment. This is a massive return on your investment. A massive return on your investment. Okay, that’s what you need. You need it for more. You can’t just spend money when you’re doing marketing campaigns or whatever. It’s all ROI. Okay, return on ad spend how much am I making? So how much am I making? So you’re tracking day one. If it’s good on day one, do I scale it Day 30, you know what’s my lifetime right. So value these are all numbers you have to look at in marketing as a business. Right? It allows you to spend, because if marketing campaigns are working, you’re going to increase that spending by 4x, 5x, 10x, right? If something’s really working, this is their way for Microsoft to come in. $ is their way for microsoft to come in. I mean four trillion closing in on a four trillion dollar market cap. Four trillion, I mean, that’s basically the size of you can correct me on this thing? I think it’s a gdp of both canada and mexico. Microsoft’s bigger than both of those. Okay, it’s insane, it really is insane. 

But they’re laying off employees and you’re going to see this constantly. It’s happening. It’s happened for last, last year and a half, two years. The biggest companies in the world, especially those within AI, are laying off employees. Why? Because AI is taking their place now, especially for these bigger companies, but they have to get that return on investment and that’s one way how they are getting it right. And it’s amazing, listen, it’s not just laying off employees and, yes, you’ll take a charge. 

When you run a business and everyone who runs a business knows this, especially if you run a business with more than 10 employees the amount of money it costs in terms of healthcare, you know just. I mean, it’s getting to the point where small businesses cannot afford this stuff, right, and when you have AI replacing these employees, now you’re taking all the negatives off where, okay, now you have something working 24 hours, right, you don’t have to just pay 40, 50 hours, whatever you’re working that week. You don’t have to worry about healthcare costs. You don’t have to worry about, you know just, trouble at the workplace or anything right, all that’s eliminated and you have. The output that you’re getting is unbelievable. I mean, I don’t even know if you can quantify in terms of, say, it’s 2x, 3x, 4x from having an actual employee there where AI is taking over that productivity. 

You’re going to see a lot more of this happen, but again it just adds to the point where more layoffs are coming. You’re seeing continuing claims, three-year highs ADP number. Let’s see what the unemployment rate is. There’s no reason. There’s zero reason. Like Powell can no longer just say, hey, it’s tariffs, and that’s why I think tariffs are going to result in higher inflation and that’s why we’re not cutting rates. They have to cut rates now. They have to cut rates. I wouldn’t be surprised if they cut rates. When’s the next meeting? 

It end of the month yeah, the end of the month, but they say in september is definitely the first rate cut. Either way you look at this, the takeaway, daniel, is that rates are going to come down significantly by next year. If powell’s going to be gone in may, they’re going to come down significantly next year by the end of next year. Uh, and you know you throw in that. And there’s something else that’s really positive is the uh. You know you’re reducing the regulatory right, the uh, and deregulation and deregulation right Deregulation of financial industry, which we’re seeing, which you’re seeing a lot of news in the financials, and now you have a market that really sets up two huge positive tailwinds, massive tailwinds going into next year, and it’s the reason why the stock market keeps going higher and higher almost every single day to new highs. 

0:16:06 – Daniel Creech

But you know that’s a good segue to financials and I don’t know if you wanted to comment on anything else. For that, my Google machine says Canada’s GDP is 2.24. So that’s less than four, yeah, and Mexico’s is 1.79. Well, less than four. So big softy remains in the lead. Wow, see that. Look at that. That was a good stat. I like when I get fact-checked. 

0:16:23 – Frank Curzio

Yeah, I love when guys fact-check me because there’s so many you asked me, yeah but there’s so many statistics that we cite right. I mean seriously, there’s like hundreds of numbers that we’re looking at, that we’re going over, and it’s easy to make a mistake in a number or two. So I like when people say hey, and then I realize I was like, oh shit, yeah, that was supposed to. I’m like, yeah, you’re right, eh, whatever, but it just shows you how big Microsoft is A massive company, all-time highs and laying off 4% of their staff Very interesting. 

Let’s turn to financials, because there was big news the stress test. Remember that was such a big deal, the stress test. Now, you didn’t even know they were coming, nobody even knew. I didn’t even know they were coming. I followed the financials All 22 banks that were tested all passed right, made above their minimum it’s called the CET1 capital requirements and absorbing, they say, total projected hypothetical losses of more than $550 billion. I say this and I said this in the past. 

But the stress tests there’s three things that they look at, okay, and this is how much capital the banks have to keep on the balance sheet. Not if one of these things happen. If all three of these things happen, right and this is to avoid this is during the credit crisis, when the world almost ended and it did almost end, right, I mean, the whole financial system was completely. I mean, they all went bankrupt. They all insured. Everybody else started by now with AIG or whatever. Nobody even knew the extent of AIG, that everyone insured through AIG. The whole system was going to collapse. You would never get your money out of the market, out of the banks or whatever, right? It’s just a total collapse. The government, which doesn’t know really anything about the markets, right? Otherwise it would have passed the first TARP bill right away and they’d start not to. And they were like holy shit, the market really came down another 10%. Maybe we should really work on this thing. I think this is a big deal. They decided to pass these stress tests, right? They started to initiate this regulation on the banks, and it’s insane. So all three of these scenarios have to happen, daniel. In all three of them, right. This is how much capital they have in the banks. So the first one the scenario is a severe global recession with a 30% decline in commercial real estate prices. Commercial real estate prices have absolutely crashed. They’re not even close to down 30%. A 33% decline in home prices. 33% decline in home prices that’s insane. And an unemployment rate of 10%, right, 10%, we’re under five. We’re under five. I mean, for those scenarios to happen and the banks having to keep capital on their balance sheets to absorb that is insane, because that’s capital they’re not allowed to lend out. And now, guys, that is about to change and it’s the reason why, once they pass these stress tests, they’re allowed to do what Daniel Hike their dividends and buy back stock, which? 

Wilford Frost, who I kind of like, the English guy who comes on I don’t know what his contract is with CNBC, but I feel like he’s on once every three months, but I like him, he’s cool. But he was pissed that the banks are choosing to buy back their stock instead of raising the dividends and he’s like I really don’t understand that and I felt like going on there and telling him that companies that have chose to buy back their stock rather than use that money to increase their dividend have outperformed significantly, significantly. I mean the buybacks are huge, I mean dividends. You’re going to have companies that raise their dividends, like Exxon. Companies will raise their dividends just because they want to be a dividend aristocrat and pay their dividends 25 years even though their cash flow isn’t there. 

When you’re buying back your stock, it means your cash flow is amazing, right? You generate a massive amount of free cash flow. You’re buying back your stock. You think it’s cheap. 

But he’s like why would banks buy their stock back at this price? You could say that any other time in the history of the markets they’re at all-time highs. You could argue they shouldn’t have bought them back. You can’t argue they were 100% right buying their stock back, these major banks, because they’ve had all-time highs. And when you buy back your stock, the boost to earnings that you get is incredible. Of course, you want your earnings to go higher and higher and higher, right? That’s what drives stock prices. This is a way to do it. Not only that, we’re in a different environment, wilford, because you couldn’t generate high interest rates a couple of years ago. 

Now, risk-free 3.5%, 4%. I mean, you go to Robinhood 3.5%, 4%. You go to Citizens, which is the bank that we use. We’re getting 3.5%, 4%, risk-free, right. So so you know. And what’s the average dividend? It’s probably about 1.7%, if I had to guess 1.8%, 1.6% around there. 

So increasing your dividend. If you’re a dividend aristocrat. That’s what Exxon, I felt like, should have never done. And they increased their dividend. And I’m like, why are they increasing the dividend net buying the shit out of their stock when it crashed Cause the dividend got up to 6%? I’m like, well, they’re increasing it because they want to be in a dividend aristocrat list, but use that money to buy back your stock. It was dirt cheap Buybacks almost every single time. Every example, s&p 500 has this and this is going back for the last 20 years, 25 years Buying back your stock. In terms of performance of your stock, it’s much better to buy back your stock than raise your dividend and that’s why they’re doing it. I wish I could explain that to him, but he was just asking the question, saying I didn’t get it, because he thought well, stocks are so high, why wouldn’t they increase their dividend? Because it looked expensive. 

These financials are dirt cheap because of the regulation and deregulation that’s coming. They’re not expensive. It’s why they’re exploding higher. It’s why they’re doing great, going to see lots more competition, which is great for the industry, and it’s going to filter down to mid caps and small caps Now that you have the deregulation and people could actually compete in this industry, where you just want to hit the top four and they sit on the island by themselves and you can’t challenge them. It’s a different market now and financials are very, very positive in a market. Listen, the market’s going to go higher. If you think you know all the tailwinds behind this market, the big beautiful bill’s going to pass. Whether you hate it, whether you like it, it’s more spending. Much more spending’s happening, right. So you have more spending, lower interest rates. The bank’s going to be able to lend more. They’re going to be able to make more money. It’s just you have the perfect scenario to banks to go a lot higher from here. 

0:22:10 – Daniel Creech

Yeah, absolutely. I like the quick word on the stress test. Don word for it, because it’s not worth as much as a bankster. Compliment Jamie Dimon who says the stress tests are worthless and should be changed, and all that kind of stuff. Cue Elizabeth, senator, elizabeth Warren, frank, she has got to be foaming at the mouth. 

Now she’s out there tweeting and doing these videos. By the way, did you realize the must end thing must be to sit in your car? They have a driver, these high ranking elected officials. They sit in their car and they do these short videos. That’s. 

I guess that’s taking off to be personal and stuff like that with people. Don’t fall for it. It’s still all a lie. But I just noticed that and I want to educate everybody on that. Elizabeth Warren’s out there saying, ranting about the big beautiful bill and how it’s going to kill people literally. See my ex feed. And I think the banksters are happy as hell, frank, because she is over there attacking something else normal than the normal whipping boy. So this worthless stress test that we like to joke about, everybody passed with flying colors. So what happened? Morgan Stanley comes out. Hikes dividend 7.5%. Jp Morgan trying to lay low only 7%. They also did a $50 billion buyback. Bank of America, kind of you know, told them they could be outdone. 8% hike in dividend raise. Wells Fargo what were they in the news for recently? Aren’t they the ones that just got allowed to grow, or am I mixing that up? 

0:23:31 – Frank Curzio

Yeah, yes, I think it’s Wells Fargo. Yes, so they’re trying to get Elizabeth, and Elizabeth Warren actually had a couple. She had great points, I think she had great points, great points. They’re robbing people. I mean, when you actually lie about your accounts and you’re creating fake accounts, I mean you know and you know again, nothing happened to anybody. I don’t think anybody got fired for that either. 

0:23:51 – Daniel Creech

So, yeah, yeah Well, anyway, they’re trying to get old Senator Warren back on their track. They raised it 12.5% dividend I’m talking about. And Goldman Sachs, those wonderful guys that we love, hold my beer, they said hiked their dividend 33%, frank. 

0:24:07 – Frank Curzio

Goldman the king. Everybody hates them but wants to work there. 

0:24:11 – Daniel Creech

That’s amazing. 

0:24:12 – Frank Curzio

You hate them but want to be part of that organization. So I don’t know if you want to work there now. Frank summed it up, listen. 

0:24:16 – Daniel Creech

I mean, the biggest thing that Trump and Biden have in common their administrations is spending is not slowing down. We had record asset prices during the last administration. To think that you wouldn’t we’re already having them again, but to think that you wouldn’t have the same effect when you’re doing similar things, is the definition of insanity, people. 

0:24:33 – Frank Curzio

Imagine being married to Elizabeth Warren. Is she married? Do you know? I don’t even know. Imagine being married to her. Yeah, is she married, dino? I don’t even know Imagine being married to her. Yeah, I mean, it’s someone that’s so. I mean, I can’t remember the last time I saw her happy Ever. Like you’re a politician, there’s certain things that should make you happy. I mean, she’s just shouting in megaphones, yelling, screaming, and that’s the one thing with parties, it’s. You know. You see Trump. You know he has a lot of jokes. He’s laughing. Vance is laughing a lot, desantis too. I mean you can hate those guys, but they say lots of stuff and they just it’s fun. You know they’re joking around. I mean you look at that party. I mean when’s the last time I saw a Schumer smile? You know Pelosi, like they, just they’re so angry man. I just wish they passed a law that if you’re over 70, you can no longer serve in Congress. 

You know and listen, trump’s over that as well, I get it, but it’s just, you know, that period between, like you know, 40 and 60, 65 is, like you know, you know I just it’s a prime period, outgoing, and you know again, trump’s all there and stuff like that. But you see the difference in age when it, when it comes to Biden, but it’s just, man, it’s, it’s so crazy the policies and how out of touch they are with so many, with so many people in America. But man, I just just be happy a little bit, just joke around a little bit. I mean, bill Maher is fun to watch right and you could say you know he’s, he’s liberal or you know on a left, but you know, at least he’s husband and she walks in the door. You probably got to be like, oh shit, man, just oh my God, I mean, it’s just crazy. 

0:26:04 – Daniel Creech

I don’t know. Let’s see we can. We probably didn’t offend six or seven people out there. You want to keep going? 

0:26:10 – Frank Curzio

Seriously, though, imagine, imagine I know that’s the person you’re going to do, pisses you off and you’re just going to come home. I mean, she can’t be happy when she walks in that door. 

0:26:21 – Daniel Creech

I just don’t get it. But who knows? Hey, remember she’s rich and connected. I guarantee you she’s happy. I know but at what expense, man, I’d rather be happy than freaking rich. I swear to God I don’t want to be. Don’t fall for the act, frank. They say Politics is Hollywood for the ugly. You know what they say. I guess I don’t even know. I mean the scripted part of it. 

0:26:44 – Frank Curzio

Yeah, Well, I do want to go into something that’s very, very interesting. Okay, we’re going to talk about Bitcoin and crypto. It’s relevant today Okay, more relevant than it’s ever been, because our thesis is that Bitcoin’s going to continue to go higher. There’s a limited supply. It’s not like gold, where you’re going to produce a lot more gold if prices go higher, a lot more oil if prices go higher. There’s a limited supply. And then you had MicroStrategy and everybody tearing apart the bears, tearing this guy apart Even Chanos is against them and this whole Bitcoin treasury strategy, where we’re going to raise money through the bond market, convertible preferreds and private know, private placement and pipe deals and all this stuff, and we’re going to raise a shitload of money. We’re going to take all that money and leverage and continue to buy Bitcoin. And now what is he on? Like 500,000 plus Bitcoin, one of the biggest owners of Bitcoin. 

Almost 600,000 they hold. Is it really 597 and change? Do you know how much the ETF has for BlackRock? I think it’s a little bit more than that, right, but yeah, it’s incredible how much. I mean. Think about that. You guys could do the math and times it by 108,000 where Bitcoin is today. And now, all of a sudden, what is it? August 2020, he had that strategy. 

Everyone is coming out with this strategy, with a similar strategy, and what are they doing? They’re using companies. They’re called like just these. Uh, you know, they’re like dead stocks on the nasdaq that really have cash that already passed all the requirements needed to get in the nasdaq. Right, so they have their listing requirements and they’re in perfect standing. And then you have companies taking them over. They do reverse mergers or you have these shell companies and it’s a SPAC and you raise a bunch of money. Then you search for a company to raise money and now you’re seeing this whole entire thing get huge. Anthony Pappaliano pump right, they call him. He raised 750 million through Columbus Circle Capital. Symbol of that is CCCM. They already acquired over 3,700 bitcoin. Same strategy. The people behind it Falcon X, blockchain capital always blockchaincom power five. Mark yusko rk capital. 

Then you have truth social, which is trump’s media company, announced a plan to buy up to 2.5 billion worth of bitcoin. Guys. These are very big numbers. I know we’re used to trillions. Okay, these guys are raising money 750 for pomp trump. 2.5 billion 21 capital is symbol, cep they. They raised $685 million. That’s Jack Mallers teaming up with Cantor Fitzgerald, softbank and Tether. Involved in that you have pipe investors, convertible senior secured notes. Again, additional $100 million from existing investors. They already bought 4,800 Bitcoin for $450 million. They got more to go because they raised $685 million. They’re going to continue to raise and buy Bitcoin. Mercurity fintech holding raised $800 million for a Bitcoin treasury reserve. 

You’re seeing these things Now. Why is it a big deal? Because when these announcements come, these stocks go up 600, 700, 1,000% immediately. So now we’re not just seeing with Bitcoin, it’s not just a few of them talking about the Bitcoin treasuries and it’s in the us. The blockchain group, which is paris based, announced plans to raise 340 million for a corporate bitcoin treasury. 

Again, this is growing institutional interest in europe. Meta planet was a second to do it. They did it after uh, after michael saylor. Japan base now owns 11 000 bitcoin. That’s almost equal with Tesla. Now that stock is up over 4,000% over the past year, while Bitcoin is up 70%. 

Regardless of what you think and why this happens, are you paying a huge premium for it? Regardless of what you think? I’m just breaking these down because I did a lot of research on them. Now what you’re seeing is another shift. Treasuries are extending to other cryptocurrencies and then you have Tom Lee. Tom Lee has a massive following, the ultimate bull. Right. Good for him. He’s doing great. He’s been right for a long time. 

The symbol for BitMine Immersion, which he became chairman of BMNR, raised $250 million. That stock went up 1,500%, daniel, in in three days, in three freaking days. Okay so, and it was up like I think it was up 800. You could have bought after the news and still made a fortune on the next two days. So they’re trying what’s different with this? They’re trying to create the micro strategy of ethereum. They’re buying ethereum for their treasury interactive strength. 

The symbols tr and r pay attention, because these are stocks you probably can get money because listen, this Ethereum for their treasury Interactive strength. The symbol’s T-R-N-R. Pay attention, because these are stocks, you probably can get money. Listen, this is a bubble forming A bubble in a NASDAQ formed in 1995, 1996, 1997, and it continued through 2000. The NASDAQ actually doubled from 1999 to its peak in 2000, when it was a massive bubble. I think it went from like 2,500 to 5,000 before it absolutely crashed. 

Okay, so when you see bubbles you shouldn’t run, because bubbles mean that you’re going to make a ton of money. You should invest in them, but make sure that you have some kind of protection strategy. Either don’t invest money you can afford to lose that you can’t afford to lose, have stop losses on it. You could use options around. You know whatever straddles, whatever you want to buy uh, you know whatever you want to do, but make sure you protect yourself. But a lot of times when you see these bubbles, you’re going to see these stocks go up tremendously. So you have tom lee. Then you have interactive strength, which is tnr. 

Trnr uh, this was a nasdaq listed fitness equipment maker and I thought this was hilarious because they are buying a treasury based on Fetchio. So I don’t know if you’re familiar with that company, fetchio. So they’re raising 500 million for that Fetchio. That’s the currency they’re focusing on for the treasury. You have Class Over Holdings raising over 500 million for a Solana treasury. They already bought 6,400 SOL. Justin Sun we talked about this last week right, and this is Tron, which is SRM is a symbol. They reverse merged with a company which is called SRM Entertainment to Tron Inc. Right, this is a reverse merger, started with $100 million investment. Justin Sun came in. 

And then you have my buddy, james Altucher I’m going to try to get him a podcast to explain and said listen, my favorite cryptocurrency is tau, which is an ai-based platform, the largest within crypto. It truly is amazing. I researched this, this company, and it was in a portfolio for a while. Uh, so it’s ai leading crypto. It’s called tau tao, and al tucher put his name behind this one, which, absolutely, I think it went from 2 to 12. Okay, and a 52 week high and low is like 26 cents to 1260 or something like that. 

So you know a few takeaways before I turn this over to you, daniel. First, if you want to invest in these companies, fine, it reminds me of the SPAC craze in early 2021. A lot of these guys that get into these names are getting in at very, very cheap prices, cheaper than you can get in. So if you can get in at these levels, good for you. Get in them. You might have to be an incredible investor. That’s fine, because when these things collide, 50, 60, 70 percent, they will. They will one day. It might not be this year, it might not be next year, it might not be the year after. 

I mean, everyone’s taking US dollars, raising money with convertibles that don’t even have to pay interest, and even GameStop, which is the worst company in the world, was able to do this without paying interest to buy a shitload of Bitcoin. So when I see this happening, it means Bitcoin is going to go a lot higher. The top five or six financials cryptos are probably going to go higher. They’re around these. However, the next stage my thesis, daniel, was always that hey, buy the next 100 cryptos Now that you have this regulation around. Now you have a positive administration, positive SEC that’s pro-crypto, they’re going to do well. This is sucking the air out of those altcoins, especially the ones that are probably like 60 to 100, where maybe the top 40, maybe the top 20 are going to do well because of a lot of these. Either way, these strategies are raising a lot of money to buy the underlying cryptocurrency, and there’s about five or six of them that they’re doing. But just seeing this model and how it’s rapidly growing over the past 30 days. 

This hasn’t been going on for a long time, but it reminds me of the SPAC craze, which did very, very well at the beginning. But I talk about Chamath, who I love. He’s all on podcasts. Those guys are great over there. I didn’t like what he did here. 

Okay, it was what he did with his space company, telling you that it was a value play. It was great Everyone’s going to space and then sold out of the whole thing, right, and just made hundreds of millions of dollars and that stock absolutely crashed. You saw that. I think it’s 95% of SPACs are down, 90% now. 90% SPACs, right, total bullshit, all this stuff. But who’s down? 90%? You are right, the retail investors are, because they were sold this bag of bullshit and that’s fine, right. 

And you know people say well, you should do your research or whatever, what you know, what, that’s what you had. That’s why you’re listening to people and when you listen to a guy like chamath that went up there and said this is a value play, you have to be in it. This is great, we’re in it for the long term. This is stuff that he said, promoting the shit out of it and then getting out at the top completely. If he really loved it, why isn’t he buying it? Why is it buying now? Right? So big cash, money grab. That’s what you’re seeing, with big names getting involved. Pretty interesting, but a lot of takeaways. The biggest takeaway is Bitcoin. A lot of the underlying cryptocurrencies that these treasuries are backing are probably going to go a lot higher. 

0:35:51 – Daniel Creech

What? What fascinates me and surprises me a little bit about this strategy is the negativity that it’s getting from a lot of Bitcoiners and anti-Bitcoiners. I mean, I understand the anti-Bitcoin narrative, but even Bitcoiners are kind of getting upset about this, and I think this is a great conversation to have. When you look at it, the fixed supply in Bitcoin, the more people, more corporations, whatever they are buying, it is bullish for the price. Whatever they are buying, it is bullish for the price. What’s wild to me from an investor standpoint and Frank is exactly right, I agree that there’s a bubble forming, but there’s always going to be bubbles forming and that shouldn’t scare you, just as Frank said, to participate. Look at the details on this, because a lot of naysayers are blaming strategy and Michael Saylor for doing some things. But if you are borrowing money at zero percent and I’m not, I’m not saying this is, I’m not brushing this under the rug but If your worst case scenario is not a cash component but it is more dilution in the future, while you need kind of like the stress test, not only do you need that negativity, you need Bitcoin prices to crash going forward. Okay, which nobody has a crystal ball. A lot of everybody’s bullish, essentially, except the haters. I understand that, but my point is is that if a company like MicroStrategy is borrowing money at 0% and able to buy Bitcoin right, wrong or indifferent, that is not as risky as it sounds there, and so that’s what you have to pay attention, what are these corporations doing and how? Now Frank’s right, the bubble is. The reason this is happening is because people are greedy by nature, including me, everybody and Frank. 

There’s a great article. We’ve talked about bitcoinmagazinecom a few times, but there’s a solid article about is Bitcoin treasury the next Ponzi scheme idea? And it’s essentially. This is a Bitcoiner and he is kind of anti this and I agree with a lot of the posts here and his points. But, frank, there’s a big difference between buying Bitcoin as your treasury asset and how you do it and also everything else. 

I think the real bubble is going to be. The first bubble is going to be how many different cryptos catch on and then what happens to them. Now, tron is unique because Justin Sun runs and owns and started. That has some power there. Solana is a big competitor with Ethereum. Those are all the big dogs. 

I don’t know anything about TAO, like you mentioned, tao or TOA, whatever it is. But, frank, I think the risk here is the company’s branching out and starting to do other coins, and I think that’ll happen because it’s just like remember, a handful of years ago, if you added Bitcoin in your name or mining in your name, your stock went up, however many percent. So that’s going to happen, that’s new, nothing different. But the expansion outside of Bitcoin is going to have my interest and I think that is where the craziness happens. But I think people are dead wrong on a lot of stuff when they don’t actually look at the terms and they keep saying oh well, if Bitcoin falls to 80,000, microstrategy is in real trouble. No, it’s not. If you’re too lazy to read the filing, that’s fine, but quit saying that if Bitcoin goes under 100,000, strategy is going to collapse because they don’t owe anybody money on it. 

0:39:09 – Frank Curzio

Well, if you’re looking, here’s a deal how these guys can run into trouble If Bitcoin collapses, right? If Bitcoin does collapse, collapse, they own the bitcoin on their balance sheet, right? So that’s where the value of their company is coming in. Now, if bitcoin goes to 20 000, you’re going to see micro strategy absolutely get annihilated right, get annihilated, but that’s not going to happen to bitcoin, because, if you look at everything from the institutional ownership, you look for etfs, you look at retail every single. If you look at the charts and you and I just did this in the crypto newsletter yesterday at Curzio Crypto AI You’re looking at the trends continuing to go higher and higher and higher, like the demand. The demand is massive. You have a limited supply. Now here’s a problem I have, because Bitcoin is likely going to go to $200,000, which is great for these companies. They have Bitcoin on the balance sheet. That’s the value right. That’s the value right. That’s the collateral they could borrow against. Why? This doesn’t make sense for a lot of other things. 

When you look at Solana, you know what the max supply of Solana? They don’t have a max supply, it’s unlimited. Look at this. You can hear it if you’re on our YouTube page. Right, this is what it means right here. If you look, let’s go to Tao. Tao, there’s how many circulating supply? There’s nine, like 8.9, say 9 million. The max supply is 21 million. Massive amount of supply. Who owns the rest of that? Because, as Tao goes higher and higher, because you’re using this and you’re buying it, what’s going to happen? Well, there’s insiders that own it. They’re going to just now, they’re going to be more in circulating supply to dilute shareholders. You can’t do that with Bitcoin. It’s a big difference. It’s a big difference. 

And then you look at Ethereum Again another one. If you look at Ethereum here, right here, max supply unlimited. You could just imagine Microsoft had shares and there’s no shares outstanding. We’re going to keep printing shares and printing shares and printing shares. It dilutes the hell out of you. 

So when I look at Tom Lee doing stuff like this, when I look at some of these big names doing this, I’m like, guys, it’s such a freaking money grab with Justin Sun and Tron and Salon and stuff like that. You know it’s you got to be. If you’re doing a Bitcoin, fine, I get it right. You have that 21 million. It’s limited supply. A massive, massive, massive, massive demand. That’s. That’s just beginning when you’re looking at international. When you’re looking at international, it’s just beginning. 

When you’re looking at US and governments where, yes, everything we confiscate goes into the strategic reserve, they’re going to start adding and buying Bitcoin for their strategic reserve, which is going to send prices absolutely soaring. So if Bitcoin goes to $200, $300, it makes sense, but it doesn’t make sense for these other things. But I can tell you you’re going to see more of them come out because it’s a big money grab, and you, but I can tell you you’re going to see more of them come out because it’s a big money grab, and you’re going to wind up buying these things up 8%, 9%, 100%, 1,000%, and that’s fine, because maybe they go up like we saw with Tom Lee’s and goes up 1,400%. You do great. That’s awesome. But the fact that you need a popular spokesman like a Tom Lee, a Justin Sun, a James Altucher, a Mahlers, anthony Pappaliano to me that’s red flag all over it. 

And you know who’s the best person? Because I’m like who’s the best person to launch one of these right now? That has one of the biggest followings. You know who it is? Yeah, you told me yesterday, peter Schiff. I thought Peter Schiff mark my words is going to get behind Bitcoin and announce one of these because he loves money more than anyone in the world. And that guy it makes sense to him. He’s smart. If he does it, he’s going to come out, he’s going to put his. He has millions of followers. He has more followers than all these guys probably combined and now he has a massive Bitcoin following because he hates Bitcoin. Imagine if he changes and says now, because of the Bitcoin strategy, he hates micro strategy, hates michael saylor, but the fact that he’s going to be able to put his watch, I bet you he changed his tune. 

Because it’s all about the money, guys. It’s always about the fucking money. It really is in our industry. It’s always 100 about the money. You say it’s not about the money, it’s about the money. That’s all these guys care about. I’m telling you that that’s their incentive, that’s what drives them, that’s everything in the world. Right? You’re gonna see peter shift come out with one of these things and put his name on it and he’s going to probably raise a shitload of money. I bet you $200 million plus and you’re going to have this penny stock or whatever that’s trading at $0.60, $0.70. That’s going to go up to $7, $8, $9, and it’ll probably go to $15, $20, $25 over the next couple of years. 

If you want to get into some of these things I gave you the symbols for a lot of them. You know buy a very small position, anticipate you’re going to lose all your money. It works for Bitcoin. I don’t see it working for Ethereum. It’s working right now. Again, it’s really exciting. We’re in a market, a bull market. It’s very easy to raise capital. They’re raising real money guys. They’re raising $200, $300 million, $500, $600 million POMS case. They’re raising real money to take that money and turn it around and buy a cryptocurrency. That’s pretty amazing. 

But I will tell you, if you own all coins which I was on the impression that a lot of these would do great under the now you have administration that’s pro crypto. It’s taking that fire away. It’s taking that buying away and it going into, because if you could list these things on the stock market, now you don’t have to go to coinbase, and I got to tell you. I received a hundred texts from Coinbase telling me that you know my account is. You know they give me a number where hell you’re going to remove the account. Please put this note Like it’s being hacked. Right, it’s hacked. All these things are hacked. 

It’s hard because once you lose money in that, it’s very hard to get it back in cryptocurrencies, currencies. So you have to go to different exchanges where you don’t see that happening on the E-Trades, even the Robin Hoods and things like that. You know fidelity platforms, but if you could come up in the greatest capital market and raise money the cap markets, what Coinbase did Coinbase could have said, hey, we’re going to go on crypto like Binance did, and we’re going to go, you know, on exchange or for no equity. But they said that the amount of capital that they were able to raise through the capital markets, it’s a listing right, nasdaq. So if you can come out as a stock now, which you couldn’t in the past 10 years, then crypto now you can come out in NASDAQ. 

Now you’ve seen this thunder being taken away from everything outside of maybe the top 20, 30 coins. Why are you going to invest? Why would you invest, daniel, in some of these Bitcoin things, even if it’s a Trump coin or whatever? Why would you invest in some of them? It’s the risk reward, like, okay, I could put $1,000 in there, you could literally make $25,000. You can’t do that in the stock market. These companies IPO at such high prices. Most of the growth is gone, so I even tell everybody it’s worth it. The risk reward knowing that you’re going to lose your money, that you can get 20x is not a bad risk reward. So go do it Now. You’ve removed that risk because you’ve seen some of these stocks up 1,403 days. 

I’d rather take my chance on these names and even buy them after the news than go into the crypto markets and do this. There’s a big shift taking place in terms of where you’re going to put your money in risk assets and people love this avenue. They love it based on all these things that are coming out and the formula, and that formula is going to be duplicated. Why? Because the smartest people in the room can make an absolute fortune, risk-free, because they’re buying into this shit at 50 cents, 75 cents, 80 cents. The time you get the news, the stock’s $7. 

The time everybody gets the news and the whole world’s like, oh my God, this is really cool and it goes around water coolers it’s $15. These guys make an absolute fortune. They’re gone. They have six helicopters and four airplanes and nine houses, and then the stock’s going to be $0.15, and you’ll be like what the hell happened? I bought this for $15. I thought this was the greatest strategy that’s going to happen in the future. Right now, if you want to ride the trend, ride the trend. The trend is this works. And watch, mark my words. I guarantee you Peter Schiff, if he’s smart, because he likes money I’m not saying it in a bad way. 

0:46:20 – Daniel Creech

His following. 

0:46:21 – Frank Curzio

no, I’m not. I swear. His following is so big it makes sense because it would be in every single news channel of how this guy switched. I guarantee you it says okay, now he loves Bitcoin, Now he’s behind this and now he can get his million-plus followers behind it. I mean, this is a guy who moved to Puerto Rico for no taxes. It’s a guy whose funds are all underperforming, not year to date, since inception, meaning you’re making more money if you didn’t even know the guy existed. Instead of investing in his funds, this is a way to make a massive fortune for someone like that, or even for someone who has a very, very big following. I would love to interview him about that, because I think he’s going to do it. He’s very. I guarantee he’s been pitching. 

0:47:00 – Daniel Creech

You give a timeline he’s got to. You can’t just say he’ll do it forever. No, no, no, he’s got to do it forever. 

0:47:03 – Frank Curzio

He’s got to do it now. 

0:47:05 – Daniel Creech

It’s almost like Chapman. 

0:47:17 – Frank Curzio

But no, he is is so brilliant. He really is one of the most brilliant people that you’ll know. He’s not doing SPACs now. He’s doing it then. He did it very, very early on. 

All the SPACs were early on when he made a fortune, and look how many people got killed. Not only that, when you announce a SPAC and you’re raising money, once you raise the money, I think it’s a 12-month timeframe to pick a company to buy. If not, you’re going to lose it. People who started SPACs lose millions of dollars if they put into it. So that’s why they don’t even care what company they buy, because the stock’s going to come out at 10. They’re in at 50 cents 25 cents a dollar. They don’t care. They’re like we just got to find a company. 

It got to the point where no one was believing it and they couldn’t find any more. Companies wind up losing right. So getting in early is the biggest thing If he wants to get in right now. If he got in right now, easily $300 to $500 million he’d raise and he’d be up 1,000% and you could issue warrants on that and warrants that are tradable next day. No holding period, because nobody’s even looking. That’s the SEC does. That’s what these things are about with these SPACs Unbelievable. He’d be very smart to do it. That’s all I’m saying that’s what I’m saying. 

0:48:15 – Daniel Creech

He could do a money grab. Last thing for me um, andrew ross sorkin had a good point this morning on cnbc when sec chair paul atkins was on and they talked about spax and things like that and andrew ross sorkin said, hey, I would be okay if the situation was, you know, if a big promoter, you know, chamath, papaliano, whoever if they come out and they say, hey, we are really bullish on XYZ over the next year, three years, five years, they should be locked up for whatever the timeline is. They’re saying and I have to give credit where credit is due that is worth exploring to me. Who is gaining and using his credentials and his brand to get retail investors excited. If he says, hey, we’re all going to space next year, then I don’t think it’s a long stretch to think that he should have to hold that for a year. Even if not, and if you don’t want to get into making the rules like that, at least make it extremely clear, and this is what I hope Paul Adkins does, because I really don’t believe we need any more rules, or very few more rules in the world. We have plenty. 

You got to enforce the rules in place, and if you just make the disclosures. For instance, in my opinion, it is very difficult to try to figure out when a lockup period is on a certain stock for certain situations, because you can file all the filings here and then you can have a different filing and a different filing. And my point is just make that as easy as possible. Just make it, you know, like a billboard. Hey, insiders can sell on X date I know I’m oversimplifying, but that would go a long way and then, when people do abuse the rules, make an example out of them. 

Bankrupt these guys. Do you think the average investor is going to give a flying Florida about a guy getting made an example of because he’s been screwing people over all the time? Absolutely not. Anyway, that’s my last thing, but kudos to Andrew Ross Sorkin, because I thought that was a good thing and that would negate a lot. I agree with everything you just said. I just wish that’s one way to help it, because you’re not going to do away with it. So either play the game and, like Frank said, no, you’re in musical chairs or just sit it out and wait for you know that segment of the crash to happen, because, like we did with SPACs, you know there’s a few that turned out to be great years later. 

0:50:28 – Frank Curzio

I mean, yeah, I mean I think DraftKings as well, and a few of them, but not many. 

0:50:32 – Daniel Creech

No, exactly. Yeah, I’m just saying A lot of them are down tremendously yeah. 

0:50:35 – Frank Curzio

Yeah, absolutely no, it is. So we talked about it a lot today. We talked about, you know, the financials. Yeah, definitely, all the financials have been sitting out for a very, very long time. You know, kudos to them. They’re long banksters. They’re following you know they’re following the rules. But look, this is about your money. And I know people hate the banks and people hate healthcare companies. 

We’ll cover healthcare tomorrow with Centene. That was really big news. We’ll cover that tomorrow on Wall Street Unplugged Premium Guys. It’s $10 a month for that. We offer a trading portfolio worth every penny. People that subscribe to that are doing pretty well, although we did have a pick or two that were too good One of our recent picks but you know we’re going to really break down a lot of individual names. Also, apple, you know, recently got an upgrade, which I didn’t think was really positive news, and I’ll explain that tomorrow. If you want to subscribe to that, you can go to our Curzio Research page just CurzioResearchcom. But overall, like the bank’s very, very good position, should be in your portfolio Absolutely, even if it’s an investment bank like Morgan Stanley, goldman Sachs, even I would say Robinhood in there as well, which is a recommendation that we have, you know also covered not just the financials, but you know you’re looking at interest rates in the economy. 

You know what do we think of? What’s going on with the economy, what interest rates are going to be low. There’s just so many tailwinds, guys, that you’re seeing here, so many tailwinds that are great for asset prices Not all asset prices, but just great for asset prices. We got the AI trend as well. It continues to build and build and build and more companies adopting it and the amount of money that’s being put into there. And energy angle and stuff like that. I’ll cover that as well tomorrow. A huge energy report by Barclays of how much energy is being used by each of the hyperscalers and how it’s considerably higher and nobody’s really talking about it. It was a great report by Barclays. I’ll cover that tomorrow as well. But really good stuff today Questions, comments. We’re always here for you, frank@CurzioResearch.com. Daniel. What is your email, daniel@CurzioResearch.com? Okay, I’m sure we’ll get a lot today, especially on the Elizabeth Warren thing and Caitlin Clark, I bet. 

0:52:34 – Daniel Creech

Yeah, you pissed off everybody. That’s good. I like pissing off people, well done. 

0:52:38 – Frank Curzio

Frank Curzio Research, bring it on. I’m here. 

0:52:40 – Daniel Creech

Keep sending your energy hate to me. Don’t bore me with the double-E. 

0:52:43 – Frank Curzio

I like it. I feel special when people don’t like me, because if everybody likes you, it means you’re not being yourself. Well, I’m a special mother trucker, then exactly, exactly. So you have to have people that don’t like you, otherwise you’re not being. You’re trying to please everybody. You can’t please everybody. He’s gonna be someone that’s like that. Guy’s an idiot, right. So you know, when I get them, sometimes I like them, but make it. If you’re gonna send it, make it constructive, put your heart make it, put your heart into it, come after me. 

I love it. It’s pretty cool. Some guys do come after me and I’ll just say you know what you’re. No, no, no, Frank, I didn’t mean that Whenever someone’s like angry, you could diffuse the situation and be like, yeah, just just just write back and say, yeah, you know I’m sorry, and forget it. They love you for life. But anyway, bring it on, I’m here, frank@curzioresearch.com. But all seriousness, we love you guys. Thank you so much for tuning in and we’ll see you tomorrow at. 

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