Transcript was automatically generated.

0:00:01 – Frank Curzio

How’s it going out there? It’s Wednesday, November 26th, Daniel, November 26th, and I’m Frank Curzio, host of the Wall Street Unplugged podcast, where I break down headlines and tell you what’s really moving these markets. What are you laughing for, Daniel? 

0:00:14 – Daniel Creech

Happy Thanksgiving, Frank. 

0:00:16 – Frank Curzio

Yeah. So I just did the introduction twice and I had the day wrong and the date wrong, so I did it twice. That’s how forward I am. Looking for Thanksgiving around the corner, how I need a day off. Daniel’s like, hey, it’s Wednesday, not Thursday. Then I’m like it’s November 24th. He’s like it’s the 26th. Are you effing with me? I’m like, no, I’m just totally gone today. So it should be a fun podcast. That’s all that matters. It should be fun, that’s right. Waiting for Thanksgiving. Happy Thanksgiving to everyone. I’m very happy for him because we had a pretty good year investing, but Daniel has come up with a brand new system that’s foolproof, 100% guaranteed, that’s right Into next year, and I think we’re going to make a ton of money off of it because, again, it’s 100% guaranteed. Daniel, you want to explain it? 

0:00:57 – Daniel Creech

I don’t know about 100%, but I always say, you know, I don’t have a crystal ball, but that was a lie Frank that everybody the crystal ball. 

0:01:05 – Frank Curzio

So my nephew got him a crystal ball because Daniel says if I have my crystal ball, so now he has his crystal ball. We’re not allowed to touch it we have to see if it works. 

0:01:12 – Daniel Creech

It’s like my drum set in. 

0:01:13 – Frank Curzio

Step Brothers. I am not superstitious at all, but I am wearing my hat and I’m hoping that this works perfect. Actually, if it works, you’re probably going to leave me right. You’re going to be making a lot of money, but I do have a nice wizard hat on. 

0:01:26 – Daniel Creech

I told you, Frank, I’m only leaving you if you give me one of them college payouts like the coaches get. Oh yeah, you know what, if you fire me and give me $10 million, I will go, I know. 

0:01:34 – Frank Curzio

You do a shitty job and you get $50 million payout and then you get on top of. 

It’s nice, the life of you know it’s so hard to get to that level of being a coach, but once you’re in there professional coach it’s so great because you know your job is going to last for four years. People are going to trade, you’re going to, even if you win a championship. Two years you have you know just horrible years. You’re done, and then you may be becoming an assistant, but then you go back. You, once you’re in that system, it’s so great. You’re making so much money and everybody knows the deal there, though You’ve got to get fired in a few years, no matter what coach. It is right, anyway. So the crystal ball what are you predicting for 2020? We’re going to go over some predictions later, because JP Morgan raised their S&P outlook. So the Goldman Sachs and we’re going to go back and look at past forecasts. Right, because we like credibility here for some of these firms. But, Daniel, what’s your big pick next year? Let’s see if this crystal ball actually works. 

0:02:25 – Daniel Creech

My big pick for next year. 

0:02:27 – Frank Curzio

Yeah, what is it Stocks? Where’s the market going? Come on, give us one big prediction Higher. 

0:02:31 – Daniel Creech

Frank, it’s fixed silly. It’s going higher. It’s going higher. That’s a prediction. I predict volatility and chaos, Frank. 

0:02:37 – Frank Curzio

And we’re going to go over our favorite stock picks before the end of the year, like we always do. I said Bowie would be the best performer. I don’t think it’s the best performer, but it did very well. 

0:02:43 – Daniel Creech

You know this is Thanksgiving, not Christmas. 

0:02:44 – Frank Curzio

I know, I know, but that’s. 

0:02:45 – Daniel Creech

You got to put up your Christmas tree now and everything right. 

0:02:48 – Frank Curzio

So, yeah, the holiday’s coming and everything, so it’s pretty crazy, but we will be going over forecasts, but you do have your crystal ball, which I’m happy about I do. And if it works, it’s you, if not, it’s the manufacturer. I love that. That’s smart. That’s smart investing. 

0:03:07 – Daniel Creech

It’s very political. You know you fit in with Wall Street perfectly. 

0:03:09 – Frank Curzio

I know, Like with all those guys that go hey, next year we’re going to see the market go higher, but we could see a crash Right. Those are the best forecasts. I’m Welcome to the wonderful world of Wall Street and, speaking of some of these stories, I thought there was an interesting story, the Campbell News story that you kind of like, which I want to start out with, which is funny. 

0:03:34 – Daniel Creech

Do you have any? Are you making anything for Thanksgiving with Campbell’s Soup products? 

0:03:37 – Frank Curzio

Not, Campbell’s Soup products? I don’t think, no, not genetically engineering and all this lab growing. What did they say? 

0:03:43 – Daniel Creech

It was 3D printer and something like that, Like a yeah, evidently a vice president went on a rant and he didn’t know he was going to be recorded or he was being recorded. Excuse me, and this is a year ago. This is. There’s a lot of silliness to this story, but, um, even CNBC this morning was like well, you know, I AI. You can’t blame AI for everything everybody. Okay, even I have a crystal ball I can blame. It’s not AI, though, and evidently this cybersecurity Frank gentleman was meeting with his boss, taping him, and this guy goes on a rant about how we only make SHIT products for poor people, and he calls out a group, a race of people that work for them, evidently, and he badmouths them, but then he says he doesn’t even buy their own products, Frank, because he doesn’t want to eat 3D printed meat. 

0:04:33 – Frank Curzio

He’s the vice president. 

0:04:34 – Daniel Creech

Well, and it’s not like I think he’s vice president of a division, he’s not like VP next to the CEO of the entire corporation. However, it doesn’t look good. So you go into you know, pr mode. You know, back in the day you would call, like some PR group up in some high tower in New York City where you’re from the guy that used to smoke cigarettes and he would come up with some like brilliant thing to put on the news at night. You know we’re past that. They just have to come out and say listen, contrary to what our own people say, our meat is not 3D printed, it’s you know the best of the best of the best. 

sir, I don’t know, Frank, what do you think about this? This is a horrible PR thing for them around Thanksgiving. I mean, how do you doctor this? 

0:05:18 – Frank Curzio

I mean, is there any surprise? I mean, I love conspiracy theories, like the next person, but there’s no way there’s enough freaking chickens in the world. I I love conspiracy theories like the next person, but there’s no way there’s enough freaking chickens in the world. I mean, go to Publix, go to Publix. You go to any supermarket, you go to all the fast food chains. I mean you know how much chicken we consume. There’s no way that there’s that many chickens in the world. There’s no way there’s like 500 at every single supermarket. Even Walmart is selling them now and Target is selling rotisserie chickens. I mean there’s chicken absolutely everywhere. I don’t know. Do you don’t think they’re cloned, I mean, or genetically engineered, or lab grown? I mean they have to be right. I don’t even care if they are. I mean, as long as you know, I’m not going to die from them. I mean we’ve probably been eating that shit for how long, nobody knows, but there’s no way there’s. 

We’re research analysts here. So I did a little math on this. Okay, I looked this shit up because I’m like this just can’t happen. So each person in the us consumes around 100 pounds of chicken every year, each one weighing a little bit over a pound, which means it’s 20 billion pounds of chicken per year, right, if we’re looking at 100? Right? There’s about, based on our population, how many people can eat chicken? Not the full, it took out about 170 million people. 

The US says they only slaughter 9.2 billion chickens every year. So what gives? I mean, when I’m looking at these numbers, they say there’s 1.2 billion chickens alive at any time and they get slaughtered every 42 days. So if you’re looking at the math, it’s almost statistically impossible for there to be as many chickens to consume, which you could go with beef at McDonald’s. There’s TikTok videos going on at McDonald’s as well, saying where are all these cows? Well, we use third parties. It’s McDonald’s. I mean what? Do they have? 10,000 stores? I mean look at Chipotle’s, look at all. Just there’s so much chicken. My bigger thing is what happens to these chickens? It’s 45 days and then they get slaughtered. Do you know that? I? 

0:07:05 – Daniel Creech

knew it was a quick turnaround. I didn’t know it was that quick yeah 45. 

0:07:07 – Frank Curzio

And they have another 375 million. 

0:07:09 – Daniel Creech

Have you seen these operations? 

0:07:10 – Frank Curzio

Just used. No, I didn’t. Nobody sees these operations. That’s why it’s such a conspiracy theory. Frank, the whole world is not a New York City you go out in. They do in the slaughterhouses and stuff like that. But you know you would think like and you’re going to laugh when I say this but do you think like the chickens like talk to each other, like after 45 days, like all their friends disappear, like do you think like they’re hanging out and they’re like Let the record show? 

0:07:31 – Daniel Creech

I don’t think that. 

0:07:32 – Frank Curzio

Like animals don’t talk to each other. Like if you do something to a dog and you communicate, they know they can’t do that forever disappears. It’s like, dude, stop eating, because the fatter you get, the more you’re gonna get. Slow, you just disappear. And all of them constantly. It’s like in this line, they don’t think for themselves. I mean they have to communicate with each other. Just a whole, this whole. I don’t know. I think this is gonna go a lot further, to be honest with you, because I’ve been, I’ve been saying this. I mean there’s definitely, there’s no way that you can tell me that we raise enough chickens in order for us to consume every single day. They’re everywhere. They got to be cloned. I don’t care if they’re cloned, just say it. Just say that they’re cloned and generically engineered. And they said our parts, some of our ingredients, are genetically engineered. Did you? 

see that Campbell said that Some of our ingredients are yeah, okay, so you’re just not going to like genetically engineer the whole chicken right, I’m not saying it’s them with, feed them with creates that Same for cows too. 

0:08:24 – Daniel Creech

You ever see them like do massive feeding operations for cows? They essentially put them in a big think of a cage and you just feed them and pack them in there and they, you know, pack them up, send them off to the slaughterhouse. It’s pretty wild operation, really. Not saying it’s, but the point is is that you can get you know in 45 days or 40 days or whatever it is with the stuff that you inject them with. You can get a pound or two on those things easily pounded too it’s crazy, insane. 

0:08:49 – Frank Curzio

Anyway, happy thanksgiving everyone. Just yeah, turkey, you’re gonna be eating the chicken, whatever you’re eating some people. 

I’m more of a ham guy myself anyway, so if you’re a vegetarian, you should be allowed to be invited thanksgiving. I think that should be a law. I know vegetarians hate me. I still haven’t met really like a lot of happy vegetarians, the ones that do it on purpose, not the ones that need to because of you know, whatever. Anyway, I got to get myself in trouble for Thanksgiving. I better stop. Yeah, let’s go into some of the market news, like NVIDIA. Nvidia fall on 3% yesterday after Meta reported that it may it may strike a deal with Google to use its ASIC chips to power its data centers. It’s a big deal because NVIDIA controls 90% of the market for AI chips and this was one of the first times you feel like, hey, there’s a little competition knocking on the door here, controlling 90% of the market. What are your thoughts on this story? Because it did hurt NVIDIA. 

0:09:46 – Daniel Creech

It has pulled back and Google continues to reign or, you know, kind of go to all-time highs and such buck, the AI sell-off trend. I have to say I think this is the media being the media in a lot of ways Frank. To me this feels like they’re pitching it as a or so NVIDIA or Google, kind of like Bitcoin or gold. I don’t understand that. You can own them both. There are pluses and minuses, from what I can tell. I think we’ll go over some statistics here, or at least some characteristics. But Google uses their own chips. They’ve been building these for a decade-ish. They typically only use them for their servers Gmail search, things like that but it does give them a competitive advantage, from what I can tell. It’s cheaper, uses a little bit less power. So there’s some pluses there, I think. 

For NVIDIA to come out swinging and defend themselves, I like that. I like drama as much as the next guy to a certain point, but it’s not. I think the media is outplaying this as everybody’s going to switch over right away. I don’t think NVIDIA is losing its kingsmanship in AI. If Meta does buy a couple billion dollars or several billion dollars of these chips, they’re going to use them for specific purposes, like Google uses them for specific purposes. I did like NVIDIA’s rebuttal of hey, you can use us for everything in AI, but again, I don’t think this is an or like it’s being pitched. I think it’s an. And Bitcoin Gold on both. Nvidia, google on both. Bitcoin Gold on both NVIDIA, google on both. What say you? 

0:11:04 – Frank Curzio

I watched NVIDIA very closely over the past three years through this trend being wrong at the beginning, saying people are too optimistic, they’re not going to meet their estimates. When they reported that quarter and blew out the numbers, I’d never seen a quarter that great in my life. I don’t think anyone has. Factually, I think it’s the greatest quarter we’ve seen in the S&P 500 in terms of how big they beat in billions and billions and billions of dollars and they just went on from there. I mean I was like holy shit, like I don’t mind being wrong. That was crazy, I couldn’t believe it and I just got fascinated by this company. So Jensen Wong last year with the keynote at Consumer Electronics Show, which I had to sneak into and kind of cut the line in order to see it 15,000 seats and about 60,000 people online, but you know when. But when I look at Jensen Wong, one of the things I said in this podcast in the past is how, listening to conference calls all the time, he rarely talks about the competition. He’s just like this is what we’re doing for everyone else, and he came out right away on this and for someone that really doesn’t address the competition, he just started to like this quarter, last quarter just a little bit, because when you look at AMD and Broadcom they’ve done well, but really 90% of the market they control. But he commented about this deal saying, yeah, we are delighted by Google’s success. We’re delighted by Google’s success. They made some great advances in AI and I love it because I’m sarcastic myself. So I love the sarcastic reply because right after that he goes they had some great advances as we continue to supply Google with their chips and NVIDIA is a generation ahead of the industry as we have the only platform that runs every AI model and does it everywhere Computing is done. So I’m quoting him. That’s what he said. I thought Jensen flexing his muscle there for the first time was a little bit of a sign of weakness, addressing it right away because your stock is down, saying hey, this is, and you know. He said a lot about Google chips and said they’re not comparable to NVIDIA. You know he’s right, because Google has a different model. They don’t sell their chips to other companies, they actually rent them through Google Cloud, which is genius, by the way. 

So it’s not that AI is just driving the hyperscalers, it’s how they incorporate into their cloud. Like Google, amazon, microsoft, oracle, alibaba. They’re able to leverage their cloud platforms, which are a massively high margin. Think about Apple. They got a simple this way a lot of people that know what cloud was until you actually had to buy cloud storage for your iPhone, which is fine, you understand. Hey, this unlimited storage that we have forever and this is why we have analytics and AI and stuff like that is because we’re able to store so much data now because of the cloud, and when you’re on Apple and you buy your storage, you’re just buying extra storage. This is a massive. It’s not like someone’s like okay, we got to build this storage for you and do more and do that. It’s this massive, high margin business that’s just unbelievably scalable and you’re generating massive margins, tens of billions of free cash flow. So, just looking to see what they do with Google Cloud, that’s what Google is doing. So it’s a different model. They don’t sell their chips to companies. They kind of rent them through Google Cloud. They only have like a certain function or two where AI chips, the Blackwells and everything that’s coming out after this has numerous functions. 

But the fact that he had to defend that and really came out strong against that, I just thought like, hey, you know what? It’s a good thing that we have more competition in this industry. It’s going to result in less CapEx spend, which isn’t a bad thing, because you’re going to find ways to do things that are more productive. That’s what AI is all about and that’s why it’s our job to find the companies that are going to provide efficiencies, just like Celestica did. Celestica did the same thing, said hey, everyone needs switches, they can’t build data centers without switches. Massive glut, right, so a massive. You know, just, there’s no supply of this stuff. Massive demand, and you just it filled that void. 

And this is a stock recommended in the 40s that went to $360. So those are the companies you really want to focus on is the ones that are breaking in, that are trying. That’s why AMD went up so much. Yes, it pulled back some as well. But look at Broadcom Secretly, I mean $1.7 trillion, that’s their market cap. I mean this is a company that has, if you look at, a two-year performance against NVIDIA. It outperformed NVIDIA, broadcom, and it’s totally under the radar, like so many. People can’t even name the CEO of Broadcom. 

So you know, when we’re looking at this, him coming out, just you know there is going to be more competition going forward. That’s the opportunity that energy within AI and how they’re going to, you know, fuel the power for this stuff. Where you make money on AI, try to find these companies that are breaking. Dell was late, cisco was late. Look at the Micron was late. Those companies saw massive moves. 

We’ll get to Dell in a second but you know it’s nice to see that there is competition and I think he’s kind of saying, you know, for him to come out that quickly. You know, not that I’m worried about Nvidia, but it because he never really had any, and I think that’s opportunities for other companies that are really, you know, just take a small percentage. They have 90%. Remember Amazon had a massive cloud. They own cloud AWS and look what Microsoft did right, look what Alibaba did, look what Oracle did. So just taking a piece of that massive pie, those are the companies you want to focus on and you know this is the reason why Google is up, probably more than almost any stock in the S&P 500, don’t quote me on that, but I think they’re up like 70% in the past, like six months or something. 

0:16:09 – Daniel Creech

And we have that in our portfolio. 

0:16:10 – Frank Curzio

I mean it’s been on fire all-time high compared to other hyperscales. There’s a reason because they’re finding, you know, they’re filling in a gap and a need that companies need, because maybe they have to wait a little longer for video chips or whatever. But whatever. But those are the companies you want to focus on. Even if it’s a big company like Google, you’re going to make money on it because now they’re getting deals from Meta. Really, I think that’s pretty big news. 

0:16:29 – Daniel Creech

Yeah, and it just shows you those guys can be frenemies, you can compete with one another, but you all have to use the same or you don’t have to. But to your point, I think it’s good for competition. Tensor processing. You know, I had to look that up. Big math stuff over there Google, big brains over there at Google, Frank. 

0:16:50 – Frank Curzio

Very smart In Gemini 3, I showed some of the. Just look at some of the stuff you could do. I mean, you could actually and I showed this in our AI newsletter where a guy was just prompting Gemini 3 and he actually created a video game off of one prompt and granted, it was just like it was a dinosaur jumping over something. And the next one was he fed it a picture and didn’t put any details of the picture of what it was and it was like snowflakes and this girl, like a stick figure and snowflakes and green trees and stuff like that, and said create a game out of it. Just one prompt Create a video game. Remember, this is all coding and stuff that 99% of people don’t know how to do. And it created a game where these snowflakes and they have the stick figure going around, like you know, you have to go around and capture the snowflakes and stuff as they’re coming down. This is one prompt. Gemini 3, that’s how amazing that system is. That’s number one on the charts and seven months ago them to build this version and it’s already number one. And it’s not number one in certain areas where you have your mathematical skills, you have reasoning, you have coding. There’s a whole bunch of things. If you look at the leaderboard, the large language model leaderboard you can look it up. You know it’s like non-biased and it shows like the best systems and every time someone releases system it goes to the top. It goes to the top in certain categories. Gemini 3 is the top of every category there. There’s a reason why Google’s killing it. They’re killing it right now. Google’s killing it right now. I don’t care if you hate the company publicly, right now they’re killing it. 

We have it in the portfolio. We did very well. Congrats to Buffett buying it, because he bought it last quarter, probably $230. It’s over $300, $310, $315. We bought it earlier than that. But credit don’t like out there. Ackman was all over this Massive position. I think it’s like 12, 13% of his overall portfolio in Google, around $100. Good for him. He bought this very, very early, before Gemini. He just said, hey, I see lots of opportunity and stuff and probably got a little lucky that Gemini came out and it was that good of a system. But there’s some guys you got to give credit to that had this and we had it too pretty early and we’re happy for our subscribers. 

0:18:44 – Daniel Creech

Yeah, speaking of subscribers, dollar Stock Club, can I switch to Dell? Yes, dell came out, reported yesterday. Stock was up. Last time I looked Not as much as I would like, though 12% Beat on earnings per share Came in a little bit light on revenue. But of course, Frank, ai is knocking it out of the park. Ai momentum is accelerating. The second half of the year Record AI server orders of $12.3 billion unprecedented $30 billion a year to date, said the chairman and chief operating officer, Frank. The reason we like this and put it in Dollar Stock Club for our subscribers is because, as AI makes its way downriver, you have NVIDIA chips, google chips and all that kind of stuff. 

Dell really focuses on the infrastructure and putting these units racks all that kind of stuff together on their conference call. I like this, Frank. We have AI racks operational within 24 to 36 hours with uptimes exceeding 99%. Why is that important? As Frank talks about tier one, tier two, tier three data centers, you can’t have any interruptions. You got to have these things 24-7 constant, like baseload power Shipped $5.6 billion in AI servers during the quarter. Frank Record record records all across the board. 

Earnings per share was up, I think, 30% year over year. Again, I really like this. This stock was up like 40% for us. It came all the way down. We’re up 15%, 20%. I got some humble pie to eat over that. But I still like Dell because AI story isn’t anywhere near over, as Frank says. We’re still in the early stages. But, Frank, you still agree with me on this downriver, setting it up. And also one quick thing I love Michael Dell CEO or maybe he’s chairman now said listen, you can’t just take the best chips, plug them in and have them run. You got to have infrastructure around it. That’s where Dell comes in they. You got to have infrastructure around it, that’s where Dell comes in. They’re one of many. Don’t get me wrong. I’m not saying they own the market, but these guys are executing like that or executing on the infrastructure. I really like Dell here, especially after the pullback. 

0:20:34 – Frank Curzio

Yeah, and look guys, this is how you make money in this trend, because we saw AI companies pull back and everyone’s like it’s a bubble and these stocks, they’re not going to make an ROI on all these investments and what do they do they actually? We saw from the quarters, from all the hyperscalers and NVIDIA, that they increased their investments. Are some of these names expensive? Absolutely, but there’s great names in the space, the best of the best, and it was a great name to buy on the dip. I mean, dell stock fell from 168, it was three weeks ago to under 120. But what happens Then? These companies have to report earnings and when you report earnings and you confirm, dell confirmed hey, we’re the winner in this space right now, when it comes to the infrastructure part, we’re one of the winners. His stock’s now over 130 from under 120 in a couple days. 

A lot of AI if you look at AI, energy-related names as well are down 25, some down 40% over the past three, four weeks of these high flyers and some some down 40% over the past three, four weeks of these high flyers and some deserve the pullback absolutely. Others, like Dell are, you know, turn out to be a great buying opportunity. Same thing in 2022, the same thing happened. A lot of these names got hammered and look what happened. It turned out to be the low. So you know you look at companies like Uranium Energy that fell I think it’s an incredible buy starting to 363. That stock, during an AI downturn, fell to 280. What happened? They came out. They reported blockbuster earnings. Stock rebounded, nicely. It’s now at 325, right. You could have bought that stock at around 280, 290. It’s 325 a couple weeks later. 

Dgxx was another one right Came out of the gate really hot. We recommended this stock a little over a dollar. It went to two, went to three. We had 350. Then it had this momentum. It had a big following on Twitter and a lot of these guys are following me as well and the stock went all the way above six briefly and then pulled back into the threes. 

And then what happens is, when you see this rebound, the good names, I mean DGXX is sitting on basically 200 megawatts of capacity sitting at a $200 million $225 million market cap. I mean it should be $2 billion, based on how much these megawatts are going for and the stock jumped 25% in one day. So my point is you have winners and losers here we were adding to our favorite positions, favorite AI names, on a Curzio AI newsletter which I published last week. Many of them are bouncing back nicely because they are putting up the numbers, while others, like a Smith Micro or Hewitt Packet Enterprise, not really putting up the numbers. 

Where Dell is being a winner, we saw that with Smith Micro. We recommended Smith Micro. It was up a lot. It came down. I think we took a 7% gain on it and we closed out because the quarter that we saw showed that they didn’t have any pricing power and Dell has a better product. Okay, Dell didn’t really have pricing power either, but now they have pricing power. Now people are using Dell over Smith Micro. That’s what we saw. Not that Smith Micro has a bad product, it’s just it influenced their quarter, their numbers, and since we avoided it, the stock has been down Right. 

So I love Palantir on the pullback Great company. I like Oracle at this level on the massive pullback because they see the risks in front of them. Maybe they have to raise a little debt to fulfill some of those orders, and I get it. And you had the credit default swaps just going higher and higher, meaning that you’re betting that insurance against the company. You’re betting that Oracle could fail. I think it’s just a little crazy when you look at those levels. 

This is a 350 stock that came down a lot, but at these levels I think Oracle’s are screaming by now that all the risk is priced in. You’re not going to tell me a reason why you don’t like oracle here. That’s not priced into the stock. That’s how you play AI. Some of the high flyers deserve to get nailed, but there’s great names and now that we just went through earnings season, a lot of the great names confirmed that. We’re still looking at all the hypers Adele. Today we saw Celestica right, so these names are confirming hey, things are still absolutely fantastically fine. The whole market pulls back. That gives you an opportunity to buy some of these things on a dip and that’s how we’ve been making money in this sector and doing very, very well in our portfolio as well, for our AI portfolio. 

0:24:16 – Daniel Creech

Yes, sir. 

0:24:17 – Frank Curzio

Also I want to say Hewlett Packard reported and some people confuse that Hewlett Packard with Hewlett Packard Enterprises, which is the AI, but Hewlett Packard’s a different animal, right? This is printers, PCs. The stock’s been hammered. It’s down 40% this year, while S&P is up 16% and in 2015,. You had Hewlett Packard. Right, they basically spun off the Hewlett Packard Enterprise division or vice versa, whatever it is. 

But spinoffs are funny because when you spinoff, you’re usually spitting off the garbage part of your company and saying, hey, it’s going to operate better by itself because it’s killing our growth, right? So this way we have a pure growth model, and this normally happens. It’s like you have two guys on your basketball team that really suck and you say, hey, you know what, you might be better off playing in a different league or starting a new league or whatever. Once they leave, you sign two great players and you’re like, wow, you’re off to the races. So usually you spin off like this you know, piece of shit company. I’m saying this because our recent recommendation in CVO happened to be a spinoff, and this spinoff was the greatest spinoff I’ve ever seen in my life, because it was this forced spinoff, because it was two divisions and one of them got bought for $125 million. $80 million of that cash went to the spinoff and the spinoff the other part, which is a medical division, is growing insanely rapidly. They’re a leader in the space. With this deal, they still have access to all those services that the other division provided them and now they have all this cash. They have hardly any debt, all this liquidity. I’m like this is probably the best spinoff I’ve ever seen. That’s why I’m mentioning it. I just recommend it to CVO. 

You guys know what stock I’m talking about. I’m not going to give it away, but you’ll pay a lot of money for that newsletter. But when you see spin-offs like this, there’s no surprise. The stock’s down 40%. They spun-off in 2015,. But again, when you talk about PCs and printers, what’s your advantage there? What’s your advantage? There’s no advantage, right? They’re usually better for that main company with all those growth drivers, compared to the division they’re spinning off. It’s usually going to have a low multiple and they have a good management team or whatever. 

But it’s very difficult to buy that slow grow in a market for the past 15 years where growth has outperformed value since the credit crisis, since 2010, every single year. So if you don’t have growth, you’re done. If you have growth, you’re going to get that high multiple. You’re going to get that storytelling Everyone’s going to be. That’s why Elon Musk and Tesla is where it is. It’s that big story. 

Where it’s robotics, it’s not. Look, you know, you see in car sales, for them, EVs decline, right. So it’s not this EV company anymore, it’s hey, robo taxis, robots. Look at all this stuff coming out, this whole cult and stuff on a lot of those promises Not all of them. Robotaxi is probably supposed to be delivered three years ago, but people follow that. Where you have these slow growers, where, like the StubHub, you’re just looking at it going, what’s the growth? What’s the growth model? What’s going on? You’re in a market with enormous competition going public, probably because you need liquidity, because the insiders want to get out, and that’s why you saw a stock that came out that crashed, saw a stock that came out. That same with Lyft stock that came out that crashed. You know, same thing here with these spinoffs. Just to let you know, when you see some of these spinoffs, they usually don’t do good, so no surprise that the stock has been hammered and continues to get hammered every time I look at it. 

0:27:16 – Daniel Creech

But Dell, great, great, great earnings really good, so yeah. And on HPQ, boy, it didn’t stop the bleeding it the dividend a little bit. That’s a Hewlett Packard, right. Yeah, that’s Hewlett Packard, I’m sorry yeah. 

0:27:25 – Frank Curzio

Yeah, so when you look at Hewlett Packard Enterprises, more of the AI division, but still Dell’s been killing against competitors, and good for them. They really have. 

0:27:32 – Daniel Creech

But yeah. 

0:27:32 – Frank Curzio

Hewlett Packard announced massive, massive layoffs again, which is sad, you don’t. So, speaking of something that’s been free fall, that kind of found a bottom recently, is Bitcoin. Thoughts on Bitcoin here, because lots of stories coming out. I want to talk about lots of different stories around it, but let me get your thoughts just on Bitcoin, which we’ve been very bullish on. But we’ve been saying the same thing about Bitcoin. 

I said, look, bitcoin is going to over 200,000. I don’t know if it’s going to happen in three months or three years, and there’s going to be bumps in a road ups and downs. I didn’t think we’d come down to 80 so quickly in a month and a half from 120. But and it’s 120 just in like late October, right. So we’re at late November. We’re looking at a month from 123 to 83,000. But you know Bitcoin here you’re starting to see some really positive news. Positive articles start to surface. You know positive news, positive articles start to surface. What are your thoughts here about Bitcoin, which we’ve been in for a very long time? We’re positive on it, but, man, we want to pull back. 

0:28:29 – Daniel Creech

Yeah, I was dead wrong on a couple of months ago I thought Bitcoin would fall under 100,000. It did not. Then it raced back up to a new record. Now it’s under 100,000. But in this business when you’re early, you are wrong. So my short-term timing has been very off on that. The has been very off on that. 

The two big arguments going on right now one I think it’s a huge disservice, for we’ve been on the whole strategy thing. We’ve traded it successfully and unsuccessfully. Unfortunately, dollar Stock Club was strategy MSTR, formerly known as MicroStrategy. Whatever the concept in the media about if Bitcoin drops to their cost basis, which is around 73, 75,000, let’s round per Bitcoin is completely unvaluable and useless. In my opinion and I get it. They need clicks and eyeballs, just like everybody, including us, does. 

But, Frank, there are some serious issues with strategy. You can point out Like hey, they’ve sold a lot of debt and equity to finance more Bitcoin buying. That’s fine. However, they are not on the hook to pay any dividends. They are not on the hook to do anything. Bitcoin could absolutely continue to crash. Pull back 40% from here. They do not have that obligation. And if you don’t know that, I’m not saying that if you haven’t been in this. It’s not painful. 

I didn’t realize that strategy had fallen to where it is and if you back out on a weekly chart it’s getting very close to a 200-day moving average, which a lot of traders and a lot of people watch is around 150. I don’t know what it’s doing today. Again, that’s on a weekly chart. But the idea that people are on TV talking about, oh man, if Bitcoin gets down to their cost basis, they’re going to be liquidated or they’re going to do anything, that is just complete, utter BS. So we have to take in a lot of information. Just sift through that and ignore that. Let that go in one ear and out the other, but that kind of drives me nuts. 

The other concept to that is Frank, did you see? Texas is, I guess, the first state to buy Bitcoin? I’ve seen multiple reports on this. This is from Bitcoin Magazine. Texas becomes first US state. They bought the BlackRock ETF about $5 million. I’ve seen reports of $10 million and I’ve also read that they’re doing this through the ETF until they get the custody kind of questions or whatever on their side figured out. I think that’s very bullish. Listen, just zoom out for a moment If you’re panicking, control your position sizes. If you’re panicking, control your position sizes. If you’re too nervous, listen to your gut. On that side, however, the simple question is what has changed about Bitcoin, about government spending, fiat currencies? Absolutely Florida. Nothing. That’s all I got to say about that, Frank. 

0:30:57 – Frank Curzio

Yeah, I could say this. So at $92,000, $93,000, you’re looking at Bitcoin and they call this a death cross, right? I mean the 50-day moving average crosses below the 200-day moving average. It’s this negative sign. You know, I knew that level and I hit that level. I only saw like a story or two written about it and then when it hit to like 85, 83, I saw about 100 stories on it, you know. 

And death cross, it’s a great headline, death cross. And I have to tell you, when you see that headline everywhere whether it’s, you know, it doesn’t even matter If it’s a stock sector security and they say, you know it’s a death cross, tons of headlines behind it, just buy that security, you’re going to make money on it. It’s the ultimate bottom, right, I see it all the time. It’s death cross. I feel like it’s the greatest buying opportunity when you see everybody talking about it. Now it’s every place. You, cnbc, you see, from a day ago, even though it crossed, like over a week ago, 93 went to 83, 84. And now you’re seeing it at 87, 88, wherever it is today. You know, I just think we’re close to a bottom here. But that death cross is just. You know, I see tons of stories, death cross, get the F out right now. Oh my God, you know. When you see that it’s a very easy story to tell, especially if you’re short. Remember, use the media to your advantage. The the media usually knows very later than everybody else and then everybody knows and it’s factored in. So stop using that same story to say, well, bitcoin should crash. There’s a lot of leverage that came out of the market, deserved to come out of the market. I get it, I understand it. But when I look at the long-term of this and that’s how we’ve always played Bitcoin where we said hey, you know, long-term, this is going to be $200,000. People have $1 million, $5 million, sell as whatever $20 million price target, whatever it is, which is outrageous. Let’s see $200,000 first. Let’s see $500,000 first, before you’re telling me it’s going to be $15 million and stuff. But you brought up Texas being the first state to add Bitcoin to its state strategic reserve. You look at Harvard Endowment last week triple its Bitcoin holdings, this. You look at Harvard Endowment last week triple its Bitcoin holdings. This is when it was at the bottom to $442 million. Also did it through BlackRock’s Bitcoin ETF. You had Emory University, abu Dhabi’s Al Water Investments also significantly increased its Bitcoin ETF exposure. 

When you look at the potential for institutions, this is a micro dot, just these little institutions. We’re talking about hundreds of billions in capital that they’re saying they want at least a 2% allocation of Bitcoin. Some of them are saying alternative assets would include private investments and crypto. As much as a 10% allocation of portfolios. That’s what they’re saying. That institutions and big institutions are saying this. So if you’re looking at some of the allocations into Bitcoin just to see an asset, that’s whatever $2 trillion $2.5 trillion, I mean at 2% Bitcoin, you’re seeing another $2 trillion come into the market. That has no supply, basically no supply and these guys just started. 

So they’re welcoming the pullback and this is why institutions are so big where, yes, bitcoin has been this retail investment that you can point to Wall Street and say, f you, I told you so and I love that fact. Investment that you could point to Wall Street and say, f you, I told you so and I love that fact. I love that fact that so many we’ll talk about JP Morgan in a minute Jamie Dimon telling you you’re an idiot for owning this stuff. These guys made so much money off it. It’s great to see them make money. It’s very rare to see retail make money ahead of Wall Street Very rare to see. Usually they’ll make money for a little while, then get their asses kicked and Wall Street always wins. 

This is one where the retail investors within crypto won. We’ve seen a big pullback in crypto overall, but Bitcoin with the institutions they’re finally coming around because we’re going to have proper structure in place when it comes to regulatory, with a new administration. Also, they know their customers want this, so they’re going to make money off of that. So BlackRock did so. They’re using BlackRock’s ETF and some other ETFs to buy this. But this is just the tip of the iceberg when it comes to institutions. 

So, instead of looking at Bitcoin as this trading opportunity for us, I’ve always said look, it could come down. It could come down 10%, 20%. We’ve been following this since 2016. And we’ve seen 25%, 40%, 50% retracements in Bitcoin, only to go higher. It’s normal, right? I know you don’t want to hear that. If you’re an investor, if you own at 120, and you just got annihilated, I get it, but this is what you have to expect with Bitcoin. 

And now you’re seeing, as long as there’s limited supply, which there is, a lot of leverage came out. 

I think we’re at a bottom here. You’re probably going to see it go much higher Because, if it does, there’s a massive amount of institutions that are just starting to buy this thing and they want to buy, so they’re getting an opportunity to buy an asset that’s very scarce, that they know it’s in high demand. A lot of leverage has come out and I think you’re going to see a lot of buying coming in here pretty soon, especially from the institutions and Emory, abu Dhabi’s Outwater, harvard, texas. I mean, this is just the last week that these institutions are buying and they spend hundreds of millions. Institutions are buying and they spend hundreds of millions, hundreds of millions of dollars, like we spend money on a pack of gum, right? That’s how much demand we can see for Bitcoin coming in, and then we have this fight between retail, right? So, just spinning this a little bit, where Jack Maulers, famous Bitcoiner, ceo of Strike, reporter on X, that JP Morgan terminated his bank accounts or debanked him without offering any explanation. Daniel, what do you think of this? 

0:35:45 – Daniel Creech

Same old song and dance. Nothing new under the sun. They’ve done this. This is choke point. I don’t know if you want to say 3.0. We saw 1.0. We saw 2.0. But it’s good for social media. On X, Frank, people are having a heyday with this going back and forth it’s I don’t listen. Jack Mauler’s framed it. I think that was great marketing. He framed it and put it on X. He got a lot of comments on that. Remember JP Morgan? Jamie Dimon has done a 180 on not his stance. He doesn’t like it. I don’t want to say 180, that’s wrong of me. I’m sorry, but he’s kind of commented that he’s not going to comment anymore. The bank, jp Morgan, has started to accept Bitcoin as collateral for different loans and stuff. So you see that you know financialization of the asset, which I think is popular. But it did get the attention of Senator Cynthia Loomis out of Wyoming, who is also front running and trying to get a lot more legislation passed. We already had the Genius Act passed, so there should be some more legislation coming up. 

0:36:42 – Frank Curzio

You know what she wants, right, she wants the US government Strategic Reserve to purchase 200,000 Bitcoin per year. 

0:36:47 – Daniel Creech

Yep, she’s been vocal about that, I mean there’s no Bitcoin on the market. 

0:36:50 – Frank Curzio

If the government does that, if any government does that, forget it. But she’s been very vocal. Go ahead. Yeah, she has. 

0:36:55 – Daniel Creech

She’s also tweeted about, you know, chokepoint 2.0 basically continuing and such like that. And then, of course, jp Morgan really opened themselves up because Jack Mallers anda lot of other people on social media has all do you think I care about the bank that banked Jeffrey Epstein after his crimes and all that kind of stuff? So it’s great for social media, Frank. I do think it’s sad that banks take this route. I don’t know that they fear being irrelevant just yet. I do think that they understand that this crypto tokenization, real-world assets tokenized, et cetera is a big threat to the banking institution. The good old boys, as you’ve said, they’re one of the few that hasn’t been disrupted by technology in some time. But yeah, it’s good for social media. It does suck to see this. But the whole boycott I’m not a real big fan of boycotts, so you know we’ll see how this plays out, Frank. What say you? 

0:37:52 – Frank Curzio

So here’s the deal. If you look at Operation Showpoint 1, that was Obama illegally saying that companies like Porno if you’re marijuana, you know some stocks, even publishers, and stuff, pawn shops too. 

Yeah, pawn shops, basically that they couldn’t do business with banks. It made it very difficult for them and that’s why you saw even the marijuana companies. If you ever see like these big trucks it’s full with cash I shouldn’t say that I don’t want to get robbed, but they can’t really do business with banks. Why? Because it’s not approved on the federal, meaning that Colorado, I think you have 32 states that approve marijuana. If you do business in these states and you have a massive business going on federally, they can come and override the state and shut your store down right. So the banks are federal, right, they’re under federal regulation. So what happened? That was Chokepoint 1, operation Chokepoint 1, which they reversed. And there’s big agencies that sued the government and won, agencies that sued the government and won. 

So Operation Chokepoint 2 came in early 2024 when the Biden administration put pressure on the major banks and said listen, you guys can no longer do business with crypto companies. Close the accounts of anyone who previously did any business with crypto companies. Again, that’s known as debanking. And they did that because there’s lots of lobbying dollars from the banks, because crypto is a real threat and is an industry that hasn’t been basically disrupted in over 150 years and it’s a boys club, so illegally. This is what happened to me. So I did a deal with a Metaverse company and sent them a check. It’s no revenue or anything, just for Metaverse. Just like Nike did, just like Walmart did, right, they were building out their Metaverse when that was a big trend in 2022, 2021. And Bank of America just said okay, you can no longer do business with us. Same thing with Jack Mallers. Didn’t offer an excuse, gave me a number to call. It was an answer machine. And basically the answer machine said you know, don’t bother, because we’re not going to change your decision. You can’t talk to anybody. And I thought it was an absolute joke. Now we run our whole business out of there. We run, all you know, a payroll out. You have a month. That’s major. Not that we had to shut our business down, but that was holy shit. Now, that was then right. Now they’re calling this choke. 

Point three this happening is totally different from what happened, because now the banks and listen, I don’t blame Bank of America, I think they’re assholes anyway for shutting me down, but they had to because the government actually said in these letters out of public, saying look, we’re going to audit you. We’re going to audit you, we’re going to come after you if you’re doing business with crypto. So, right away, they’re like I’m not doing business with crypto, which, by the way, led to the whole crisis of what is it? Silicon Valley Bank. So the reason why that failed had to do with this initiative. No-transcript, that’s how this whole thing happened. 

Because of this, the banking shit. Right, this is how. This is what caused it. Uh, so you’re looking at jp morgan, these laws. Look, there’s laws in place that banks could do business. They’re now taking custody. 

So JP Morgan boycotting him. I don’t know the story. I’m sure there’s more to this story. It’s not just Mueller’s getting this letter randomly saying you can’t do it. Maybe it is, maybe it’s not, I have no idea. But you’re talking about JP Morgan and now this boycott and you’re saying, oh well, it’s a boycott, jp Morgan, big deal. Well, it is a big deal. I mean Greg Cardone whether you like him or not, very big said he’s removing tens of millions of assets. Michael Saylor came out, matt Kaiser came out saying they’re closing accounts. So there’s strong opposition against this. But, more importantly, it shows how big these massive communities and guys. Please pay attention to this because we’re part of this right, these massive communities like we’re growing. It’s a great following that we have. 

When we saw Curzio Wealth Forum, where we have all these accredited investors, where you used to have big accounts at these Goldman Sachs, jp Morgans, now we’re getting access to prime deals. We’re coming out with a deal next week of a guy that has a nine-figure exit and an eight-figure exit. I’m offering this deal. We’re the lead on this freaking deal. And now, in the same industry, he’s competing against a company called Savvy. I’ll let you know because we did an interview on Wall Street Unplugged about two months ago. Now our investors are going to be able if you’re a credit investor, you’re going to be able to invest in this company. A guy that has two big wins right, two companies that he sold, and now this is the third one in the same industry hospitality that he’s trying to disrupt and he sees a way to disrupt it. 

And when you see the retail investor, Daniel, that’s going on right now, and how powerful they are they started with Roaring Kitty and GameStop. That wasn’t a joke. I mean, you had millions of people following this guy that put a $12 billion firm out of business. They’re still in business because they got funded, but they would have been done if they didn’t get funded. I think it was Citadel that recapitalized them. So Wall Street is now learning they’re not this dominating, influential big bully that does whatever it wants anymore. 

When you see this kind of blowback, I will. It’s not going to go away. I mean, the crypto community is huge. If you don’t think it’s huge, it’s the reason why trump got elected. It’s huge. Believe me, it’s massive. And you have this whole community where you’re not saying not to f with them, but when you do something like this to one of the people that everyone really likes, if you’re crypto, you kind of like Jack Muller. You don’t. He’s here. 

A lot of negative about him. You know Cardone is a lot of people that don’t like him. You know he’s got a bold personality. I kind of like him. You know Michael Salas a lot of people don’t like him. This is a guy that kind of everyone likes. He goes on CNBC. He’s got a good personality. He’s into this. It’s going to be really, really, really big. 

You’re going to see more people come out against JP Morgan. I wonder if this is going to be bigger than they think. I know JP Morgan is a trillion-dollar operation. I know they’re big, but it’s different now because when you hear this negativity and all this stuff, you want to know the reason why. Because JP Morgan is really out of its league doing it now. Now, in 2024, early 2024, all the banks were doing it. They had to do it. Jp Morgan doesn’t have to do this. They’re not getting pressure from the US government, which, again, they used the federal government to basically tell all the banks look, you’re not doing anything with crypto, we’re coming after you. That’s not happening with JP Morgan. So I want to know why they did this, the story behind it and maybe there’s more to this story. 

I like to hear both sides of every story because I’m a research analyst, but I don’t think this is a story that’s going to go away, Daniel. I really don’t. I think this is bigger than people think. It is because the retail investor guys, these communities even we have one of them now that’s growing tremendously. When they trust you and they believe in you, you’re making them money, which we’ve done many, many years, especially this year, and helping them get into really good deals that I’m getting in personally at the same levels that I’m getting in with accredited investors. 

It’s starting to get bigger and bigger and bigger, and Wall Street wasn’t prepared for this. Right, they’re not prepared for this, which is really cool, but it’s given the retail investor a voice for the first time, and this is a good example. I bet you this story doesn’t go away. I bet you we’re talking about this for a couple of months until JP Morgan comes out and says, hey, we made a mistake, or this is why we canceled his account, because we saw this, this and this. But there has to be a reason. You can’t just debank someone right now because the laws are different today in this administration than they were in the previous administration. 

0:44:37 – Daniel Creech

We’ll see how the best bankster handles it. 

0:44:40 – Frank Curzio

We’ll see about him. But I can tell you JP Morgan did come out with another note today. They said that their 2026 S&P forecast they said they’re expecting 11% upside at 7,500. So they say it’s going to be driven by double-digit earnings growth. No surprise, we know it’s forecasted they’re going to grow double-digits next year. But they say they expect just two cuts next year, which I thought was a little crazy to have such an optimistic outlook with just two cuts. 

I see at least four rate cuts. I see at least four rate cuts. I see at least 1% add up to 1% in cuts in 2026, unless a new Fed chair wants to get fired by Trump, that’s going to happen and Trump will go after him. And I know there’s a voting process, I get it. But again, with Trump pushing this, trying to get someone fired five months before they retire, that’s how bad. He wants interest rates lower, going into the midterm elections especially. 

But they also said, jp Morgan, if the Fed cuts more than two times, we could see 8K on the S&P 500 at 18% upside. Now, with that said Daniel, jp Morgan on July 1st this year predicted the S&P would close at six grand and it’s 6,800. While Goldman they raised that target to 6,600 around the same time mid-year, which is a pretty good forecast. I mean, what do you say in terms of next year in these forecasts? Should we believe them? Because I’m going to put up a chart of all these forecasts and I love accountability to see what they were saying in 2025 compared to what they’re saying now. 

0:46:00 – Daniel Creech

Yeah, forecasts are tough. I mean, let’s see, let me check this crystal ball here. Frank, there you go. 

0:46:09 – Frank Curzio

What are we doing? 

0:46:09 – Daniel Creech

It’s hard to think that the markets would close lower. I mean, at some point we’ve had such great returns you almost it’s like seeing red on the roulette wheel Red, red, red, red. You got to bet black eventually. It would surprise me if there’s only two cut. So they mean do they, do they expect a cut, do you know, in December, and then two next year? 

0:46:30 – Frank Curzio

They’re saying two next year. They didn’t say like there’s only one that would be cut this year, but they’re saying two next year are going to be cut and that’s 75,. But they said if they cut further then it can go up to 8,000. 

0:46:40 – Daniel Creech

Okay, I definitely think there’s going to be more cuts. I don’t know about four next year, but there’s got to be several because the easy looking at this is. We’ve talked about true inflation a lot, not putting this on, Frank. I’ve talked about this more. I think this is much more accurate than what the Fed has. They are significantly looking back at this data. This true inflation is more up to date and such and, to my point, in early November, Frank, on November 3rd, this had true inflation, had inflation at 2.7%. Right now, today, it’s updated daily. You can go to the website for free it’s 2.37. 

The reason I point that out is Fed Chair Powell currently himself has always said hey, we’re not going to wait until this 2% goal to lower rates, and they’ve started lowering rates Now. They’re in this pause or this kind of coin toss situation. However, if inflation is at 2.37, which is what true inflation is I’m going to side with this over the Fed statements or info then that means we are a lot closer to this silly Willy Wonka 2% goal anyway, and I think that that will spur more Fed cuts just because of the data. To your point, when President Trump gets his guy in, they are going to be extremely dovish. I think that’s part of the reason why markets have begun to kind of rally a little bit here. But yeah. 

I just you know the number, I’ll take over 10%, but man, it’s just hard to think that we’re going to close next year lower when you have the inflammation of the tax cuts, the big beautiful bill, the elections and all that kind of stuff. They are going to do everything they, being politicians both sides do it are going to do everything to goose asset prices because that has a wealth effect. People feel better when you see green on your account versus red. 

0:48:14 – Frank Curzio

So here’s some of the forecasts, where 2024 close at 58.81 on the S&P 500. And I don’t know who BCA research is. They had a 44.50 target this year. We’re at 6,800, now St 6800, now Stifle 5500. Very wrong. And everybody else has a bullish forecast UBS, JP Morgan Citi, Morgan Stanley, Goldman Sachs, Barclays, Evacor, Bank of America, RBC, Yardini Research, Wells Fargo, Deutsche Bank. 

And you look at Goldman Sachs if you guys can’t see this, but if you look at Goldman Sachs, Goldman Sachs had 6500. Again, they raised that. But Barclays 66. Evercore 66. Good forecast. We’re at 68. Bank of America 66. 6666 was Bank of America’s forecast. Are you kidding me? Holy cow? I don’t know. I know three sixes of the devil, but four sixes has got to be worse. Bmo Capital Markets 6,700. H HSSB was 67. Rbc markets 6700. Good for them. You have Deutsche Bank at 7000. A little bit below that your dean reaches 7000. But you know, now we’re going to see the forecast coming out over the next month. 

I just want to say listen, you know, kudos to RBC, bmo, bank of America, evercore, barclays. You know they got this right. JP Morgan was light, ubs was light, morgan Stanley was light. Goldman Sachs was light, a little bit light, Goldman Sachs and Morgan Stanley. But yeah, I like looking at forecasts just to see where everyone is on these forecasts. But I’m going to tell you they always say the past is no indication of the future when it comes to stocks and making gains. Do you know the last few years? So one, two, three, four, five, six, seven years, seven years of the returns of the S&P 500. I’m going to tell everyone what the past seven years of returns for the S&P 500 were. What do you think? You think all of them were up. A couple were down. 

0:49:53 – Daniel Creech

This is from 2019 to 2025 2022 was down, I think, but the last couple of years you’re giving the average, because the last couple of years we’ve had 20 in a row, so it’s got to be high. 

0:50:01 – Frank Curzio

I mean this is from 2019 to 2025. So In 2019 and 2020, 2025, so this year we’re up 16%. Last year we were up 25%. The year before we were up 26%. Then we had 2022 minus 18% 18,. 

okay, I wouldn’t remember that the year before that, we were up 29%. That’s 2021. In 2020, that was COVID. A lot of people don’t know this. They did the market crash, but we ended up up 18%. The market stayed all-time highs. That’s why I was so pissed off where all the massive spending we had every asset class at all-time highs. I mean, even you look at cars, you look at stock markets, you look at houses, you look at almost every single, you know collectibles Everything was at all-time highs at the end of 2020. 

What did our government do? They spent another $5 trillion and threw it into the economy. And they wondered why in 2022. Oh, inflation is going to be transitory. What are you thinking? You didn’t give it to the banks. You handed it directly to people in PPP loans and said, hey, here’s more deductions. Here you go, here’s all this money, free cash. Your neighbors who work city jobs have three Mercedes and just got their house redone. I mean you wonder why 2022, inflation went through the freaking roof. That’s how much when you inject all that money into the market. 

So then, in 2019, up 31%. So, to recap, since 2019, s&p 500, if you own stocks, think about this up 31%. Then you’re up 18%, then you’re up 29%. You take a step back down 18%, then the next three years 2023, up 26%, 2024, up 25%. And now you’re up 16%, and they’re forecasting most of these people for a 10% plus gain next year 16%. And they’re forecasting most of these people for a 10% plus gain next year, right? 

So this is why you need to be invested in stocks, why, yes, there’s bubbles, but what happens when these bubbles? What happens in the worst case scenario? What’s the worst case scenario during a credit crisis? Right, holy shit, the whole system is going to end. What did the government do? Let me inject a shitload of money into it. Right? So you had the Fed put what happened during COVID. Well, not only did they eject money okay, because COVID was a black swan event they closed everything. Now we know the facts. It didn’t have to close and it wasn’t as bad as they said. It was. Okay, that’s what happens during election years. But what did the government do? They injected money. In 2020 and 2021, 2022, massive amount of money comes into the market. So, even when we saw a couple of bank failures recently, like in the past couple of years, the government comes in backstops it. So, if you’re worried about this 25% correction that everyone talks about. Just realize we’re going into an election year for midterms, which is very important because one party owns the whole entire government. Excuse me, so that’s why you want interest rates incredibly low. 

There’s a reason why David Tepper is buying the share of the housing stocks right now. You should follow me. He bought China stocks about 18 months ago and look where they are Just great indicator of the markets and a macro perspective of how to position himself. Now he’s buying housing stocks because if interest rates come down and mortgage rates come down, you’re going to see the housing market take off because there’s so much demand, they just don’t want to buy the houses at this interest rate. They want it lower. 

So if you have lower interest rates combined with deregulization, which means more banks are going to have more money, injecting capital, lending more money to companies is a reason why you’re seeing this whole rebound is being led by what? Not by technology, not by Dow stocks. You can say a little bit of healthcare. It’s being led by small caps. I mean the market. It was small caps from over 2% today, with the rest of the market up a half a percent Yesterday. They outperformed the market 3 to 1. You’ve seen the past week or two, with these stocks with small caps going through the roof, it’s kind of amazing. So I’m seeing these gains unbelievable in the S&P 500. 

You just have to put in perspective, even though they could pull back. If you have a black swan event, just know the government is going to do everything it can to spend as much money to stop it and prevent it, because it’s election year and they almost always made money when they bail out somebody, especially during a credit crisis, they made an absolute fortune. So they don’t see it as a risk, especially with this administration. You can like Trump or hate Trump, but he’s going to do everything he can. His stock market is the gauge of the economy. So we’re pulling back. If he thinks we’re going to pull back next year, he’s going to make sure interest rates are coming down tremendously. He’s going to make sure he signs more deals with governments. 

I don’t care if you like it or not. I don’t care if you believe it or not. You can hold up signs or whatever. I’m telling you how to make money in this market. You have to be in this market, okay. You just have to be in this. 

Yes, you have sector analysis and different sectors and biotech and healthcare on fire right now. Ai pulled back a little bit. It’s a good buying opportunity. A lot of people think JP Morgan predicted oil prices in the 30s in a couple years from now, so I like oil here. I think these companies are in great shape considering the market it’s in. 

Plus, every international market is booming. Their stock market is booming. I think it’s going to be great in terms of building for oil prices and copper prices. But there’s just different areas you want to invest in. But overall, having your money in the markets and trying to don’t try to time the market, because if you try to time it every single time, you would have got nailed. You would have saved 18% in 2022 if your timing was perfect, but look at the gains that you would have missed. I mean 31% 2019, 18% 2020, 2021 up 29%, 2023 up 26%, 2024 up 25% and 16% this year. And now we’re going to get double-digit earnings growth with lower interest rates going into a midterm election of a new administration that believes 100% that the economy is based on the stock market. There’s a lot of fuel there, along with deregulation. That it’s going to mean hey, if we do pull back, there’s going to be a huge buy the dip mentality, similar to what we’re seeing in Bitcoin institutions right now. That’s why I’m optimistic heading into next year. 

0:55:12 – Daniel Creech

That’s right. Own stocks Got to. 

0:55:16 – Frank Curzio

Own stocks. That’s what Daniel’s crystal ball says. And it’s so funny, because he says it so much, that I think you’re going to say you’re like, wait, crystal ball. Yeah, I kind of feel bad, you got that now. Because I like when you say, well, if I have my crystal ball, but now every time you say you got to hold up your crystal ball. 

0:55:29 – Daniel Creech

I know, now I got one. 

0:55:30 – Frank Curzio

Now you got one. I love it. I’m going to put a little pedestal right behind you. That’s what I’m going to do. So, guys, listen, happy Thanksgiving. Have a wonderful, wonderful holiday. You and your families. Be thankful for making money in the stock market this year, which hopefully you did. Be thankful for having an amazing meal to be able to sit down with your family and friends. 

People don’t have that privilege in a lot of places in the world, which I think people don’t think about at all. When they’re in America, they just complain about their traffic and how the iphone is a little bit slower than normal and shit. You know, we complain about really stupid things. When you look at the big picture, when people in other countries don’t have access to water, if you watch the news, you think everyone hates each other and America’s horrible. It’s this terrible country and stuff like that. Listen, you live in the greatest country on earth. Be thankful. Eat as much as you can, since everyone’s going to start their diet on Friday. 

Do some Black Friday shopping, if that’s your thing. Watch some football. It’s great games. Packers-lions, great game, chiefs Cowboys. A loser of that game is probably not making the playoffs. The Bengals and the Ravens Joe Burrow’s coming back should be interesting. Ravens on a tear right now. Let’s see, they got to win that game along with Jamar Chase, since he spit on somebody denied it. I spit on somebody, I didn’t, but now he’s going to be back for that game as holiday man. We love you, we love the support, we’re glad that you listen to us and tune into us. But have a wonderful, wonderful Thanksgiving, Daniel. I don’t know if you wanted to add to that at all, but yeah, make sure you spend time with your families. 

0:56:52 – Daniel Creech

I do happy Thanksgiving. Thanksgiving is a wonderful story of capitalism, of individualism. Look it up it was a common how do you say this communal farmland from 1620 to 1623. From Bradford he changed all that, gave people individual land rights, and that’s when you had prosperity. Greed is good in a sense, and moderation, as Gordon Gekko says, to bring it more into recent focus. But yes, it is a wonderful story of capitalism and success. Everybody Happy Thanksgiving. 

0:57:23 – Frank Curzio

Happy Thanksgiving everyone, and we’ll see you guys next week. Take care. 

0:57:28 – Daniel Creech

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.