I spent some incredible quality time with my daughter this past weekend. We went to a concert and then spent the day at an amusement park. I wouldn’t trade experiences like these for anything… but they do remind me how old and fragile I’m getting.
We’re facing several major headwinds right now—from geopolitical risks… to major layoffs… to the Fed pushing back interest rate cuts. Yet, the markets continue to march toward all-time highs. I break down why the market is brushing off these risks.
We’re in the heart of earnings season… and so far, Big Tech has been putting up some impressive results. Next up to report is Nvidia (NVDA) on February 21. I share what I expect from the AI darling’s latest quarter… and whether I think it’s a buy vs. the other “Magnificent 7“ stocks.
I also highlight earnings from several other names, including Chipotle (CMG) and Roblox (RBLX)… and celebrate the fact that fundamentals are finally starting to matter again.
Disney (DIS) is set to report earnings after the market close today. Longtime listeners know the House of Mouse is one of my favorite whipping boys… so my expectations for the results (and the stock) may shock the hell out of you.
Tomorrow at 7 p.m., I’m hosting Part 2 of my free Crypto 2024 LIVE series. I’ll dig into the Bitcoin ‘Super Halving’… and the handful of megatrends that will drive crypto up tens of thousands of percent over the next couple of years. Plus, I’ll answer your crypto questions on air. Don’t miss it!
- I’m the “fun dad”… but I’m old as s*** [0:31]
- Why is the market ignoring these risks? [6:51]
- Fundamentals finally matter again [10:01]
- Is NVDA a buy ahead of earnings? [12:08]
- DIS will blow out earnings expectations [18:16]
- Your opportunity for life-changing gains [23:30]
Wall Street Unplugged | 1112
Buy this ‘Mag 7’ stock right now
This transcript was automatically generated.
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.
Frank Curzio: How’s it going out there? Its February 7th. I’m Frank Curzio. This is the Wall Street Unplugged podcast where I break down the headlines and tell you what’s really moving these markets.
You know, I had a crazy weekend on Saturday.
I drove three hours to Tampa, take my oldest daughter to go see her favorite performer in the world, which is Drake.
Massive following, massive.
I dunno if you’re older and you don’t know too much about Drake.
So the concert was on Sunday, So we had all day Sunday.
And I said, you know what? Lemme be a great dad and plan something.
Decided to plan a trip to Busch Gardens, which is not too far away.
And I planned it, well thought out, analytics, everything.
So I looked at the weather, it was gonna rain until about 11 o’clock.
I said, look, if we go early, it’s not gonna be people in the park.
We can go on a little rides.
’cause there wasn’t any lightning bought.
’cause later on the park’s gonna be a little crowded.
Bought the food pass, bought everything, and it worked to perfection.
We got in there, it was empty, we got all the rides, got a little more crowded.
We used the fast pass, we ate a couple times.
It, it was absolutely perfect.
So it was really great.
Uh, and every ride, I mean, we hit a lot of the rides.
Now the planning again was perfect.
And you guys know I’m analytical, so just, you know, playing the whole entire thing.
But I forgot one important variable that I’m older than s**t now and I’m 51 years old.
I’m not saying if you’re older than that.
I’m saying for someone who’s going to go to Busch Guard’s, Busch Gardens, left going to Disney World.
It’s not even like going to Universal.
Universal has a couple of crazy rides.
Busch Gardens has 10 rollercoasters, they have insane rides.
And I have to say, I try to be a tough guy.
But after six I was done.
And of course my daughter’s like, Hey, let’s go on one more, which means let’s go on the rest of them.
And as every dad knows, when you, your daughter asks, Hey, just one more, you’re gonna say yes every single time.
I’m like, I’m good, we’re fine.
She’s like, are you okay? I said, I’m fine.
And I went on every single one of ’em except for one because I told her I had to tell her no.
I was like, I was done because, and I felt sick for like the next five hours.
I was like, what am I thinking? Right? Like, Hey, it’s just gonna be me.
My she’s 15 again.
You get into that stage right, where you’re not, she’s gonna wanna do these things with her friend going forward, right? She’s like right at that.
Even take her to the concert.
I’m just thinking, man, she would be having a an amazing time.
She had friends here, instead of her dad.
Uh, you know, and, and you know, my young one still lets me play a couple of innings, which is cool.
But it was funny trying to keep up and, and I felt sick, which is a nightmare.
Butch Garden’s beautiful, by the way, have animals everywhere.
It’s really, really cool.
So, you know, we got back to the hotel at, at five, freshened up six, got to the concert at seven 30.
And again, I’m starting to like, come out of it, feel a little better.
So we got there at seven 30.
Drake came on actually at nine 30.
Now it says he’s gonna come on at eight, right? That’s a concert.
Usually say, okay, eight 30, he came in at nine 30.
I go to a lot of concerts because they’re so cheap to go over here.
And you see great people for so cheap compared to New York.
You know, when I’m living in Jacksonville now.
Uh, and he came on at nine 30, which, which was crazy when he came on.
I don’t think I’ve ever seen someone command the stage.
And he had, he had dances on there maybe for, for 10 minutes.
He had J Cole, which is another great rap artist.
I’d never seen someone command a stage like that other than I I would go back to like Michael Jackson.
I’m not kidding.
I mean, this crowd sold out insane.
This is a new album.
They knew every single song.
I mean, this isn’t like going to Stones concert.
It’s not like going to see Elton John, Metallica, where they’re playing their favorite hits and it’s their farewell tour for, for, you know, like nine years that did the farewell tours for, you get see ’em like four or five times at at, at any venue, basically.
This is a new album.
They knew every single song.
They were going absolutely crazy.
And it wasn’t a crazy audience.
It was, it was like Sunday night, mostly over But just the energy and the fact that everyone was just going crazy and his energy.
I mean, it’s unbelievable.
This guy has such a cult.
I mean, it, it’s an amazing cult that, that, you know, I was thinking, I’m like, this guy ha has has more power than Putin.
Like if he told his followers, Hey, we’re gonna go to war with somebody, they would go to war, not ask any questions.
That’s how controlled the audience was.
Again, if someone goes to a lot of concerts, I see people go crazy.
This was different.
This was different.
Uh, it’s amazing.
I don’t know how it is a Taylor Swift or whatever.
Again, you’re getting a much younger audience, but this audience was just dialed in and he was cool.
He was like, you know, everyone should be happy and this and that and you leave the place, you know, it’d be nice and this and, and you know, just really respectful.
Really, really cool.
And the funny thing is, when we walked in there, if you’re looking at the merch, which is merchandise, you know that merch is now, you know, the younger version of merchandise.
There was I think 16, 17,000 sold out.
If I had to guess at least 12,000 bought merchandise.
Their sweatshirts, Drake’s sweatshirts were going for $204 and they literally had hundreds and hundred.
You couldn’t see the ends of the lines on any place.
I mean it took you, they were moving pretty fast ’cause they had like 25 people at these stands working the stands.
I’ve never seen anything like this with $240 for a sweatshirt that basically probably cost $15, $10 to make.
And they were lined up and couldn’t buy enough of them.
That’s how insane it was.
I mean, it was unbelievable.
We got home at 1:00 AM The good thing is he came on late, but he sang extra.
He is like, this is one of the best crowds I’ve ever had.
And I’m not just saying that 15 years, I mean, just the following, the energy.
Again, I’m not the biggest Drake fan.
I know a few songs that he didn’t sing ’cause he sings with other people that I like.
Uh, but it was unbelievable.
I mean, you felt the energy there and, and gonna a lot of concerts.
That was really, really cool.
The most important part is I really made my daughter’s weekend.
That’s what it’s all about.
Uh, I don’t know if I due, Busch Park Butch Gardens ever again.
Uh, you know, one or two rollercoasters, seriously.
crazy, crazy rollercoasters.
They’re not, you know, they’re pretty insane.
Uh, and they beat me up.
So I think my cutoff age was maybe a year or two ago for rollercoasters and, and still trying to get that fun time out my doors.
It was really cool.
Had a great weekend.
Sometimes you need to get away, enjoy life a little bit.
And it was a lot of fun.
Now get to the markets.
Powell last week pushing rate cuts further back.
China continues to crash.
Yeah, Palantir, which reported really great results.
Its CEO, it’s a little crazy and I like him believes the China, Taiwan conflict.
And this guy would know since they handle defense contracts all the time and what’s going on, be something that I said that I think is inevitable as well with China, where they are and how that market’s crashing and how we’re cutting ’em out of ai, which is the future.
I I read a stat the other day saying 90% by next year, this is crazy.
This can’t be true.
90% of the content you see on the internet, it’s gonna be AI generated in 12 months.
And that everything that you see on the internet could easily be created through AI.
I just don’t think it’s gonna happen that fast.
But holy s**t, I’m gonna talk about revolutionary there it is.
But that’s why I believe China, I mean you’re cutting them out and NVIDIA’s not allowed to sell their best chips.
Em, you’re cutting out.
What are they gonna do when they’re desperate, when their entire real estate market is just bankrupt? And they, they’re, they’re trying to have these initiatives though the bank reserves and try to stimulate the cut.
It’s not working.
They’ve been trying to do this for the past 12 months.
The latest round stopping short selling and all the it, it’s not working.
That’s how terrible and horrible it is to the point where I’m hearing from my sources that if you’re looking at investors in China, they’re investing in US stocks.
They’re not investing, they’re not touching China.
That might contribute to what’s going on with our market.
It continues to go up.
’cause you also have us launching strikes in Iraq and Syria against terrorist groups.
And that’s starting to get ugly.
New York Community Bank is still collapsing.
It’s $3 now.
It was 10, seven days ago.
That should be a concern.
I know you could.
It’s a very small bank in the scheme of things.
I mean the top four are so much bigger than even the next six.
They did the research on this.
I think there was only like 30 banks with over a hundred billion in, in assets.
And when their community hit that they, it was, you know, more stringent rules on a regulatory front.
And they had to provide for more loan losses and do their ratios, which is, you know, this is a boys club.
They don’t let any small mid cap banks get big enough and get into the top four.
You’re not allowed to do that in this industry.
The only industry are not allowed to do that.
Which is crazy and it crushed them.
But is that gonna lead to other community banks who have to be having trouble with interest rates this high? They rely on real estate.
Real estate market relatively frozen here when it comes to mortgages.
Yeah, the 10 year going higher, over 4% massive layoffs taking place.
Especially from the companies that are reporting the best numbers, which is big tech reporting great numbers and laying off employees.
Something I haven’t seen with stocks at all time.
Highs usually don’t see companies laying off ’cause the stocks at all time highs, it signals that we’re gonna see strong growth ahead.
But all this stuff doesn’t matter.
S&P approaching all time highs closing on 5,000 for the first time today and it’s led by Meta, Amazon, Microsoft, Google a little bit, which I thought was solid.
Apple, Tesla not so much.
Let’s see what happens with Nvidia, which is the last of the max seven.
They’re gonna report two weeks from now.
It’s the 21st and man analysts are just going crazy.
Goldman Sachs raised their target to 800 and now it’s trading close to 700.
Nvidia, Morgan Stanley raises the seven 50 Bank of America also raised their 800.
That’s just a few.
Those are the big names.
And many folks in the financial media that I’m seeing, Josh Brown was there.
He’s like, this is crazy.
It just ran up too fast.
And I missed the initial move on this, but for me doing a whole segment on it saying, and this is five months ago after I missed most of the move, but this is one that was below 500 saying that this stock with the earnings that I put it up, is actually cheaper than it was a year ago when the stock was trading at half the price.
I mean the earnings that they put up are earnings.
I’ve never seen, no one has seen that kind of growth quarter over quarter in earnings outside of maybe a few companies when, when it came to CO and and Zoom and stuff like that.
But no, I mean just off the charts.
But you’re looking at at Nvidia saying, oh my god, you know, I gotta get rid of it if I own or it’s crazy.
I just looked at it and said it’s trading at a cheap valuation than Microsoft and Apple and everyone’s telling you to buy those two stocks.
Yet this one’s growing three x to five x faster than Apple, three x faster than, than than Microsoft.
In the biggest growth trend in the world, a growth trend in AI that really helped push the entire market higher.
The entire market higher.
This was like mid 2023 expecting to pull, this was the stock that was like holy s**t, that blew it out.
And everyone was like, wow.
But it’s trading at 34 times forward earnings estimates right now, which, which is cheaper still than Apple and Microsoft and still growing much, much faster than them.
When I look at Nvidia and you look under the hood, you say, okay, what do they have? And again, I, I missed it the first time around.
The second time around to me just as a Mag seven stock, this was the one to buy.
This one had more upside than any other, any of the other ones and Meta probably outperformed Nvidia over that timeframe, which is fine.
They’re great, that’s fine.
But Nvidia, I mean they have the holy grail and produced the best AI chip in the world.
Nobody’s even close set AMD.
They’re trying to push higher 50 times forward earnings.
They have a bunch of s****y divisions though with PCs and all this other crap.
But AI is like the pure play with the best chip Lightyear is still ahead of everybody, which gives them incredible pricing power.
And what’s important when it comes to pricing power, what you’re seeing, how Chipotle reported great earnings.
You see another cup, McDonald’s, notice how McDonald’s came down and people were b******g because, alright, you just raised them too high.
When you have pricing power, you’re only gonna have it to a certain level and people are gonna be like FU I’m not paying, I’m not paying.
Chipotle still has it.
Lululemon still has it.
Nvidia produces the greatest chip in the world and not only does it have pricing power, the richest companies in the world are dying for it and could spend billions on this because they generate tens of billions of free cash flow every year, in some cases every quarter.
So they’re locking down this entire industry ’cause they hold the most data and that’s where AI works the most.
So you have these clients that just continue to pour billions into this.
And that’s the trend.
And by the way, try not to sell, ever sell a stock at a 52-week high And you might catch it, but you know, it’s, again, you’re not supposed to buy stocks at 52-week lows either.
But unless there’s something going on that you see inside of buying or things where really, you know, just this reaction of a forced sell off or something like that when people just run for the exits.
I felt that was a case with Peloton, believe it or not.
But man, NVIDIA’s just, well, well positioned right here.
But for those of you invested in Apple or looking to buy Apple, I, I mean easily you make the case, Apple is is a worse choice.
Much worse choice than Nvidia considering it’s cheaper and growing much, much, much, much faster.
And Apple is last of the Mag 7s.
Well Mag six I went throw Tesla in there in terms of getting into the AI revolution, which is crazy.
I mean maybe it’s not so crazy ’cause they usually sit back and wait for someone to do something and then they’re like Wow, we could do it better.
This was something you shouldn’t have sat back.
’cause now they’re just talking about about it.
They’re gonna be huge beneficiaries of ai but now they’re probably gonna have to pay a lot more money for it.
And now what companies are you gonna take over? I mean you know how many companies Nvidia and Microsoft and Google have taken over in AI over the past three years? Holy s**t.
Not only hundreds of companies, all the best companies, as soon as they come out with good technical, were taking over Microsoft Open AI got in it very, very early.
Interesting to see how this plays out for Apple.
So we had Chipotle report, they were great.
Roblox was awesome.
One of our portfolios, which is cool, Yu Brand’s well was good Ford solid finally following GM’s footsteps and others cutting EV production ’cause they make a s**t load of money on gas vehicles.
VF Corp was terrible.
Paramount weak, Gilead weak.
But for me, this earnings season, something that I talked about over the last nine months, you’re seeing even further now where the disconnect between good names and bad ones, we are not seeing entire sectors in cloud or or you know, AI, big data analytics software can even go out to defense companies like all the stocks within the sector or the entire market just going higher, going higher, going higher.
That’s not happening.
You’re seeing a clear disconnect between the good companies and the bad companies and that that’s good that that’s a stock pickers market.
When you see that and you want further proof of that, the S&P 500 is up 5% about to hit an all time high while the equal weight, which applies equal weight to all 500 stocks is flat on the year.
But unless you own Meta, unless you own, I mean Google ran up into the quarter then pull back a little bit.
Amazon’s up big Nvidia, the Microsofts, unless you own basically those four better be in your portfolio for you to be outperforming.
We might’ve got lucky what a Caterpillar or a couple of others here.
But that’s what you’re seeing with the market.
It’s not like this breadth where everything’s going higher and that’s great, you wouldn’t see these massive layoffs.
But you can’t look at the S&P 500 as a market any, like you can’t look at it as the gauge of the entire market.
You just can’t.
Just like the economy, like you know, when people describe the economy, we have to say it’s either good or bad.
Why can’t it be both Jobs are strong, wages are pretty strong.
GDP’s better than expected.
I mean you’re seeing areas of the market do okay here.
Leading indicators are down for what, 21 straight months.
That’s the ultimate leading indicator because when you see that it it a hundred percent of the time it, it’s happens just before recession.
Yet people don’t expect a recession.
The housing market is kind of frozen.
Credit card delinquencies are surging, right? I mean so there’s areas that you could say are really good and areas that you could say are really bad.
You don’t have to be like, wow, the economy’s good at the economy is bad.
But that’s how we talk about the markets.
S&P 500 market’s doing great.
Is the market doing great? I mean based on S&P 500 all time high, yes.
But you better have exposure either to the entire S&P 500, hopefully do three 401k or to four great stocks that have significantly outperformed over the past whatever month and seven days of this year.
And even last year with the max seven.
If Disney on deck to report is after the bell, I could tell you the fact that IGA already scheduled a CNBC interview after the close is that they’re gonna report very, very good results.
The results are going to be good for several reasons.
One is the analysts have lowered these numbers, which they’ve done for like the past 10 quarters in a row and Disney is able to beat.
I think people see through that.
But it’s gonna be an easy number to beat.
It’s 99 cents in in earnings.
They should be doing more easily a dollar 20 plus.
Okay? So, so those estimates are really low and it’s amazing that they’re low.
They’re that low.
When the, you look at Disney and Iger and the cost cutting, it’s massive.
And they had to, I mean that flows directly to the bottom line.
When you cut costs, you’re gonna take a charge like we saw with Snap, which got wrecked, which I think is one of the biggest buying opportunities in the market right now.
And if you look at the numbers, they reported a much bigger EBITDA log and they beat on every metric, just about every metric.
And even going forward, the guidance was good.
They beat on dealer active users, but yet they took a very, very big loss because they just, they put all their losses in the kitchen sink into next quarter.
’cause that’s what you have to do with severance packages and stuff like that.
To the point where analysts, even JPMorgan, so they missed EBITDA.
They reported like a 70, what was it, $70 million loss or something expecting like a 30 million loss.
And that’s the reason, that’s the main reason why the stock came down.
You’re talking about advertising revenues better.
It’s not, if you look at the numbers, it’s not.
Now if you look at EBITDA and you look at even JP Morgan, I read a lot of analyst reports.
JPMorgan increased their EBITDA estimates by 80% over, I think it’s $450 million for the end of 2024.
Okay? They just finished 2023, they’re gonna report Q1.
That’s where they took their losses and everybody’s like, this loss is an advertising platform.
They’re actually seeing growth, they’re doing good and they’re going to cost even more and they’re buying back stocks.
So to me that’s a clear over reaction of 30% when these guys are like, let’s just put it into next quarter.
But the analysts are raising, when do you see a stock go down 30% analyst raising their full year estimates.
You never see that.
So again, these disconnects, that’s what I’m here for to tell you about.
When I look at Disney cutting costs, I mean just from the, from cost cutting and the fact that these numbers are easy to beat, I think it’s 23.7 billion is the estimate.
They’re gonna blow them away, you know, for other reasons I’m not gonna mention, but you know, it is gonna be interesting ’cause I think they, the stock’s probably gonna go higher on this and when I look under the hood, there’s still a lot going on.
I hate that they still say streaming is their main growth initiative when they can’t compete with Netflix or anyone else.
’cause their best content doesn’t come out on their platform first.
They’re even going to put the best content ever, which is Mandalorian, which is on their Disney Plus service they’re actually coming out with, they’re putting that in the movies too.
But that call should be interesting.
Expect, I gotta talk, about you know, the password sharing and they’re going into what Netflix did, which is a big deal.
But their recent sports streaming partnership with Time Warner and Fox, which I think doesn’t make a lot of sense why the stocks aren’t doing that good.
Combine their services because Disney needs to do that.
Because in order for ’em to break even on ESPN, they on ES ESPN alone, which doesn’t broadcast every sport by the way, you’re not getting access to all the games.
They’re gonna have to charge over $50 a month for that.
No one’s gonna do that for ESPN.
It’s not worth it.
So now that you’re bringing in Time Warner who has, you know, big sports franchise Fox, you’re gonna bring even more sports.
But they’re gonna have to charge 80 to $90 a month for this.
And they’re not gonna get it.
They’re just not gonna get it.
But they’re gonna talk about that initiative as well.
We’ll break down the quarter with Disney tomorrow.
But again, I’m gonna tell you the short Disney here, we were very negative on Disney at 180 1 71.
I mean even negative to be fair at one But then, you know, we knew the numbers actually mattered.
Doesn’t matter how many people sign up if not paying anything and, and you know, let’s see if they could turn around and stop focusing on a freaking dividend.
Jesus, nobody cares about your dividend.
You get 5% for free.
Stop worrying about the dividend, paying the dividend folks on growth.
That’s why people are gonna buy your stock with Disney.
They’re gonna, it’s for growth right now you’re cost cut.
If you’re buying Disney, you’re buying a cost cutting story.
You’re not buying a growth story as much as Iger is gonna say, Hey, we’re growing things are good.
It’s not a growth story.
Not to mention theaters.
I mean is this a secular decline? Are people just not gonna go to theaters as much anymore? I mean how do the Marvel franchises, how do they not do that Good.
That’s something they need to address as well.
So we’ll talk about that tomorrow.
But I’m expecting strong earnings and maybe a nice 5% plus increase in the stock.
I’d be surprised if they bombed that quarter.
’cause I don’t think Iger would schedule that call right after.
And he scheduled nice and early.
Again, he knows the numbers coming out.
And if you’re gonna be first to talk on CNBC at 4 0 5 when those numbers are released, you better make sure that they are good.
Let’s see from, right, so tomorrow, very, very big day hosting a free, free, free live crypto event.
Our second in the Crypto 2024 series.
So this one I’m gonna talk about the having coming up in April for Bitcoin and why should we call this super happy And look, two months ago in our first series I talked about the ETF approval’s coming.
They gotta approved that think a month later.
And Bitcoin ran up tremendously after that.
Into into that after our call, I said why was a game changer? Uh, said how Bitcoin is going to run up into that announcement and you should expect, you know, sell on news event, Bitcoin’s gonna come down.
They could hit 39,000.
Now it’s back up to 43.
So hopefully you’ll listen to it and, and you know you’re a buyer, you’re still gonna have these, you know, ups and downs, ands and flows and stuff like that.
But tomorrow I’m gonna highlight why if you are a big Bitcoin believer, which many of you are and I I have great contact like Frank, I buy Bitcoin and everything else is s**t and I get it, that’s fine.
But if you really, truly think Bitcoin’s going a lot higher, which a lot of you I think listening to believe most of you, especially if you’re in crypto and I’m not talking about where like where’s it gonna go or when, how much.
If you just think it’s gonna go higher six months from now, nine months from now, three years from now, which again you can make that case, what the haling does reduces supply growth.
You keep the man the same prices are gonna go higher, which is done every four years during these halvings.
But if you truly a believer in Bitcoin’s gonna go higher, I’m gonna show you why it’s not the best strategy just to buy Bitcoin and hold it.
’cause you’re gonna be missing out on gains that can change your life.
Okay? And I’m not bullshitting you here when I say that because you look at Bitcoin, I mean surges after the past Halving, if you look at last halving after 600% gains in Bitcoin, which is amazing in 18 months, holy cow.
But if you stripped it out, the rest of the crypto market went up three times that amount, some of ’em going up tens of thousands of percent.
And you say okay well you know you’re cherry picking a few names here.
Listen, crypto is the only place, the only place I would argue that you could invest in great technologies.
’cause what these all coins are and some of ’em are s**t coins.
They’re software companies.
That’s what they are.
That’s what all coins are.
But you could invest in these great technologies at the very, very early stages of growth.
I mean you could have bought Bitcoin for under a dollar in 2011, but where can you buy an amazing great growth company for under a dollar? You say, well I’m on a pink sheet, it’s garbage, it’s s**t, you can’t.
And most of the companies less than a few years old that are seeing exceptional growth, a gonna IPO at billion dollar plus valuations, what we’ve seen, even Uber good quarter still wbo, it’s IPO price.
So that with a lot of stocks, I mean you go to almost any single spac and what they came outta you look at Coinbase, which was up 300% last year.
Unbelievable move is still 45% below its IPO price.
That’s how high, that’s how Wall Street f***s the average investor.
They hyped this thing up.
And by the way, you couldn’t have found a better time to the date to the day to launch Coinbase when they launched it.
I mean I think it was right when Bitcoin was at all time eyes.
It was perfect.
But you can’t do that in crypto.
You could do that.
I’m not saying you’re gonna buy Bitcoin for a dollar, but you could have bought it for under a thousand dollars in 2014, not that long ago, 10 years ago.
That’s a 43 x on your investment.
And for perspective, Microsoft’s largest company in the world had just 10 x gains over the same timeframe.
There’s a big difference between 10 x and 43 x guys.
Huge, huge, huge, huge difference.
Both great, but which would you rather have? And putting $5,000 in Bitcoin at a hundred would’ve generated over $2 million for you.
Now someone’s been covering the markets for such a long time, for three decades, trust me, it’s rare.
Even with Nvidia buying it at nine, 10 years ago, you would’ve saw 15 x gains and that is the perfect, best, greatest stock ever.
Buying it cheap when you know, again, nobody folks on ai, that chips were okay back then commoditized like the rest of the chip industry.
But when you look at Bitcoin following the ETF approvals and what does that mean, right? Because now what happened? You’re like, oh, okay, it’s not a big deal.
Whatever this is giving tens of millions of new people, easy access to Bitcoin for the very first time.
These people have 30 trillion in assets that are places like CalPERS, New York State, Florida state pension funds, the biggest pension funds with hundreds of billions in asset under management, now have access to Bitcoin and these people are gonna be able to allocate what one, 2% of the retirement portfolio in Bitcoin, which they should and institutions.
And Wall Street loves it because it’s an asset that eventually and it feels like it’s not gonna be as correlated with the market and there’s never an asset that’s created like that.
You try to get it with gold, it doesn’t happen.
You try to get it with other, think about it, when you see the mark collapse, right? You don’t have a Bitcoin’s totally different.
Decentralized, no central bank, no b******t, no printing money, fixed supply.
Here it is.
And that’s a game changer.
But not just for Bitcoin, it’s for the entire industry.
’cause now the best projects are gonna get funded.
More innovation’s gonna take place, which our government hates Jamie Dimon coming out against crypto.
Elizabeth Warren coming out against crypto.
Why? Because they control our banking industry, which is a boys club that generated what last quarter, the top top four over a hundred billion in revenue, 30 billion in profits for what? Being a middleman for holding our money, charging fees galore.
You see some things, they may create whatever for the rich elite, whatever, but you know the exotic products that all these s**t, and this is an industry that’s never really been disrupted in the history of the internet.
I’m not talking about having online banking, I’m talking about having lower fees on almost everything that we buy.
That’s what Amazon did.
That’s what you see across every single industry going directly from the person who produced it to the consumer without all these minimum take of profits, that’s not the banking industry.
And the laws right now, don’t allow any bank to become big.
That’s why you’re seeing the collapse in in New York community.
You should be celebrated when you have 50 million assets and you go to a hundred million in assets, over a hundred million in assets, you should be celebrating not a hundred million, a hundred billion in assets.
You should be, you should be holy.
There should never be any restrictions on how fast you can grow other than your own restrictions, which okay, I gotta get my supply chain order, stuff like that.
There shouldn’t be government restrictions on how fast any company should grow.
And in banking, you have that.
And that company did a great job, got assets from the government, I think it was from signature when they went under, got some of their assets, that threshold and now they got wrecked.
’cause they had to provide more of their money into, you know, more capital to keep on the side reserve ratios, which makes sense when you have trillions like the big guys do.
But not for a bank like that.
And they got wrecked.
But here you have this amazing innovation and all this stuff taking place.
Not all of ’em, but a lot of b******t has been eliminated.
But this is an area guys, you have to have some allocation to.
And our prime example, it’s work for me, but amazing.
And even through that terrible year, year and a half, which is horrible before was unbelievable.
And now you’re seeing this really come back where this isn’t a cyclical industry anymore.
You’re gonna have this constant inflow of billions of dollars into Bitcoin and it’s not just Bitcoin.
Now you’re gonna see the best projects get funded, these change talking to each other, inoperability play and earned as you’re playing video games.
I mean deep in you’ll find out what that means tomorrow, one of the biggest trends, it relies on community.
I mean, why in the hell aren’t some of these companies like Meta or Google that steal all of your personal information? Why are you getting f*****g paid for that? Don’t you think you should? I’m using a platform, they’re stealing my information, it’s selling it to third parties and making a fortune off of you.
How about having a platform that, okay, you agree to this but you get paid a little bit if you do, that makes sense to me.
So you have these walled gardens and big companies and again that they wanna be centralized and and closed.
But this disrupts not just finance, but the biggest technology companies in the world.
And this is fascinating now, now that Bitcoin ing is coming now the ETF approval, it’s game changers in this industry.
And you’re gonna see many, many of these names do great.
So we’re gonna register for tomorrow’s Crypto 2024.
Again, event again for free.
It starts at 7:00 PM gonna be 100% live like it was last time.
So feel free to, to ask as many questions you want or whatever you can go to crypto, Curziocrypto.com, that’s the website.
And when you register, you’ll have access to ask me questions.
And when we did this last time, I’m telling you we had so many freaking great questions, which is awesome and we get to see it beforehand.
But last time I probably spent I spent an hour and 15 minutes.
I only wanted to spend 15 minutes on q and a, but there was so many people that stayed on and it was just cool just hanging out.
It was Daniel and I going over these questions live in tomorrow’s event.
I’m gonna make it probably 15 minutes of some of the stuff, but more details of what I talked about and then take a ton of your questions.
So take advantage of it for free.
It’s really cool if you register Curziocrypto.com for free, to ask us questions even before the event.
And then, you know, we’ll put them into queue and spend a lot of that time just chilling, hanging out, having a couple beers, Daniel and I, and answering your questions and talk about crypto.
And this is also for people who aren’t familiar with crypto or wanna learn.
Again, I’m not gonna make it complicated.
I’m gonna dial it down, make it really easy for you to understand, but why you need a small percentage of speculative capital allocated to this sector.
Don’t sell out everything and go crazy.
Don’t get, you know, you want that greed factor, everybody should have it.
But this is a sector that can provide returns that you can’t see almost any place else, especially in the stock market now as the best names IPO at Crazy, crazy Valuations.
So Curziocrypto.com, 7:00 PM tomorrow, have some fun, live should be pretty cool.
And yeah, I’ll see you guys then.
And also provide a special offer for our Crypto Intelligence newsletter, which we do during these events.
You know, so you could expect that we’re not shoving it down your throat or anything.
But we just recommended, I just recommended yesterday the issue came out five new recommendations.
So you know, I’m putting my money where my mouth is.
I’m not just saying this five, I don’t think I’ve ever recommended five at one time, since four years.
I think we’re doing Crypto Intelligence, but more importantly, what we are doing now at Curzio Research, which I think is a game changer and it’s resulting in a lot of people subscribing to our products and becoming, you know, part of our brand for a very long time is anyone that comes in gets a 10 minute phone call with me.
And it sounds crazy, right? And to me it doesn’t sound crazy that that’s the way it should be, right? I wanna talk to clients.
That’s how our network is built.
That’s how this podcast was built.
You know, there’s so many people are educated, you know, so many different fields to help me out tremendously and stay ahead of the markets and, and I gotta tell you, you know, there’s great people that I talk to, they’re really cool and you know, they’re like, oh, you know, I’m honored to, I’m honored to talk to them.
I mean, you’re a client of mine.
That should be the beginning of the relationship.
That’s how Lululemon going door to door, going door to door to build one of the best app empower brands in the world and people telling a no.
So for me, I see that in our industry.
Where else are you gonna find that? You’re not gonna see that, but for us you see that and that’s important.
So it’s not like this sale and you’re like, oh s**t, what did I just do? No, you’re gonna get to talk to me, answer questions, be there for you, help you out.
And that’s what we’re gonna do with all these products going forward where, hey, I don’t mind getting on a 10 minute phone call and it’s not limited to 10 minutes.
I’m like, get the hell off.
Sometimes it’ll go a little, but you know, it just, one guy I just recently talked to is, is in Hawaii, he’s in Air Force flies Jets, great, great guy.
Followed me for a long time as UEC is one of his biggest holdings and followed me for 10 years.
I mean, that’s awesome man.
That’s freaking awesome talking to people like that.
It’s just great.
So that’s gonna be part of the call too.
Again, you’re not required, but you’re gonna get some really, really great ideas that I researched to death over the past couple weeks and recommending five of them that should benefit tremendously.
Much, much more from Bitcoin as a haling is going to take place in April.
And then I think it’s gonna, I mean not just Bitcoin’s gonna go higher, but you’re gonna see a lot of these names do very, very well.
So tomorrow’s event should be pretty cool.
So for me, Dan and I are gonna be break down a latest round of earnings in more detail, coming up with our pick as well.
That’s gonna be tomorrow’s Wall Street Unplugged Premium.
Also tomorrow big day I’m gonna be sharing my Super Bowl pick, which is always the guaranteed bet of your life because all you have to do is the opposite of what I do.
I was one-on-one for the championships, but I’m gonna break it down.
I follow football a lot.
I’m gonna come up with a great analysis that makes a lot of lot of sense and then I usually lose that bet.
And the last time I won that bet, I’m pretty sure the last time I won, because I lost last year was the last time these two teams played in the Super Bowl and San Francisco was winning big and then Mahomes went crazy.
But at Kansas City, I think it was the last time I won, I think I won maybe two, three times out of the past So it’s really important for you guys.
I usually have great prop bets, which usually do okay, but the actual pick is usually horrible for some reason.
I have a bad track record and have fun with it.
I’m gonna break down the game tomorrow.
Uh, so that should be for pretty fun and Wall Street Unplugged.
So guys, questions comes, I’m here for you.
Email me email@example.com.
That’s firstname.lastname@example.org and I’ll see you guys tomorrow.
Love this episode.
Wall Street Unplugged.
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Announcer: Wall Street Unplugged is produced by Curzio Research, one of the most respected financial media companies in the industry. The information presented on Wall Street Unplugged is the opinion of its host and guests. You should not base your investment decisions solely on this broadcast. Remember, it’s your money, and your responsibility.