Transcript was automatically generated.

0:00:02 – Announcer

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

0:00:16 – Frank Curzio

It’s May 21st. I’m Frank Curzio. It’s the Wall Street Unplugged podcast. We’re breaking down the headlines and I’ll tell you what’s really moving these markets. Mr Daniel Creech, what’s going on? How’s everything?

0:00:30 – Daniel Creech

Everything’s great. Best day of the week, Wednesday Another beautiful day here in Florida, Beautiful but getting hot.

0:00:36 – Frank Curzio

It’s getting really hot man.

0:00:38 – Daniel Creech

I will say, the nice thing about Florida is, even yesterday I think it was 95-ish give or take it was hot, but by 8 o’clock it’s still light here, so I’m not being funny, but at least it cooled off. There was a breeze on the ocean. I actually went to the beach, so it was pleasant, I mean during the day it’s miserable, and then you wouldn’t even think it’d be that pleasant. So praise the Lord for that, because it was pleasant, by the way.

0:01:01 – Frank Curzio

We’re in Jacksonville, so I mean. Orlando’s totally different. It’s a big difference, even though it’s about a little over two hours away. And then you go to Miami. It’s a joke, I mean you talk about eight degree difference at least, and that’s pretty big. When you’re talking about like 91, we say 95. So Miami is probably holy cow. Oh yeah, it’s pretty crazy, and at night, when you wake up in the morning, it’s like hardcore stuff we’re.

North Florida, rednecks. Yeah, pretty crazy. So a lot going on with the markets. Did you see the big news over the weekend? What was the big?

0:01:29 – Daniel Creech

news. There’s so much big news Scotty Scheffler won the PG. Oh, you’re talking about the downgrade. We’ll get to that in a moment.

0:01:34 – Frank Curzio

Did you see the golf? That’s not important. Yeah, the ball, because if you hit in the middle of the fairway and it plugs, I mean it tells you how bad it is. And he had a ton of mud on his ball. He was about 120 away and hit it about 40 yards to the left in the water. Day one. He was bitching and a lot of other players were bitching, whatever, but those are two strokes. I mean he’s 140 away. That’s usually a layup for a tap-in for him, but uh, it doesn’t go shooting in the water for double bogey, uh, and he still managed to come back from that. So he the stuff he’s doing right now. You never want to compare because I remember with speed one, three, three titles. They were like, you know, bobby jones, take it easy. You know there’s huge comparisons to tiger right now. There’s huge comparisons and I mean he’s still not even 30 years old. It’s. It’s incredible what he’s doing.

0:02:26 – Daniel Creech

He’s setting some.

0:02:26 – Frank Curzio

I mean he’s joining some amazing he’s, I know he’s getting up there it’s just, it’s just fun to watch.

0:02:31 – Daniel Creech

As a fan, I hope everybody, uh, even non-golfers, can appreciate stats. Oh, let me prove this really quickly. I am no fan of baseball. Uh, don’t understand it. Just that kind of thing. I will have to say Frank, you know, I thought this was unbelievable. So the umpires, you know, when you’re watching on TV you have the square, the box, whatever the hell I’m trying to say, where they throw the strikes. This was a while ago, I want to say it was a month or two ago. But an umpire, they said, called a perfect game and got every ball and strike correct by judging by the square. I thought you don’t have to be a base. That’s incredible, because there is human error and I think being an umpire would be very difficult watching them crazy Florida and throw that 90 mile an hour thing at you.

0:03:21 – Frank Curzio

But my point is are you, am I? That’s awesome, that is awesome. That is awesome. I mean umpires, should you know? You yell out, because that’s the only job where the more unnoticed you get, the better you’ve done when everyone’s talking about you.

0:03:33 – Daniel Creech

They’re yelling at you. Yeah, so it’s kind of like okay, and you’re never going to have everybody happy. You’re always going to have one side at you, no especially in high school.

0:03:40 – Frank Curzio

You’ve got parents yelling at you in chile. That’s crazy, but let’s go off that for a while. But the parents were just insane these days, but let’s go.

Moving on to markets to the markets, the debt downgrade which is, you know, I think moody’s felt like hey, you know what we had. You know smp and fitch do it before it’s our turn. So you know, they downgrade the US debt rating from its best highest rating to one notch below. Yields increased slightly on this. The 30-year went up to 5%. 10-year the 30-year was 5,. 10-year is 4.5. And just to put this in perspective, because I want to break this down, because there’s so many stories talking about it, the significance of it and everything and I’m not saying it’s not significant, but we’re above 4.5 in January. We’re above 4.5 in January, we’re above 4.5 in May of last year and also closing in at 5% in October 2023. And every time we hit these levels, bunnies have fallen. But I wanted to take a step back to explain what this means, because I think people just believe holy shit. You know shit’s going to hit the fans really bad and I like that.

They did this because they should have did it, because it’s you know you’re seeing debt levels skyrocket. It’s insane right now. We need to do it. Everyone’s talking about, everybody’s saying it. You have ray dalio to you know, Jamie Dimon to you know, president united states to everyone saying like deficits, right, we all know so. Um, when we see this doubt down, that downgraded results in rates going higher as you slight concern that the US won’t be able to service its debt. But, to be fair, people have been making this argument since the 1970s and they’ve been right. And well, they haven’t been right on their Armageddon call because they’re talking about the entire financial collapse.

This is going to collapse. Dow’s going to lose its world reserve currency status. I mean Porter’s all over this again. Someone I follow and I used to work for is saying that Bank of America is going to go bankrupt. They have 500 billion in treasury bonds at 1%. They’re worthless if yields at 7% 8%, but they’re not worthless if they hold them to maturity. But you know, he’s one of many predicting this total Armageddon scenario. And, as we all see, deficits go higher and higher and we’re at $36 trillion now to service that debt, which means the interest payments alone over a trillion. It’s freaking insane.

With that said, okay, being real with you, our fed has a bill of low rates considerably from here. That’s short-term rates. Long-term rates could still stay high, but inflation is not spiraling out of control right now, even with the tariff nonsense. Also, you look at gdp was you know if you’re going to? It’s a big deal. Now we’re seeing growth, because growth is the remedy for this. It’s the only remedy. You could say we’re going to cut here, we’re going to cut here or there. It’s growth. And now we’re seeing GDP growth pick up tremendously.

Where the Fed is what? 2.3 percent now, which was you know? Again. We had a negative print last quarter. So should we be worried about debt levels? Absolutely. Should you pull all your money out of the stock market and hide it? Absolutely not. And that’s my initial take. I got a lot more to say. I don’t know what you thought about it, but I think it’s important to highlight it. I don’t disagree with that downgrade. I think it should be. Hey, you know what. It’s time to put this on the map, that everybody knows, that they’re talking about it, which, if you know you’re hiding under whatever you should know about the deficits and how crazy they are and how much we spent the past few years after COVID. But you know I wanted to get your opinion first. I’m going to dig a little bit deeper in here what it means for your portfolio.

0:06:56 – Daniel Creech

So well, let me clarify, because correctly, what I meant when I they said. When I said they’ve been right, I meant about the argument and the unsustainable debt and all that, not the results, as you correctly pointed out. I want to. I’ll be a smart aleck here for a quick minute, because any Midwesterner who is a fan of the Bob and Tom show is familiar with this segment called Mr Obvious, and it is fantastic and I encourage anybody to Google it and share a laugh. Frank, I like how you point out they relate to the game.

I had to look this up, but Standard Poor’s knocked us down in 2011. 2023 was Fitch and now Moody’s is late to the party. I like how Secretary of Treasury Besset said it was a lagging indicator, but for the Mr Obvious out there, we’re $36 trillion in debt, $100 trillion in unfunded liabilities, well, well above that number, and you and I neither one of us can fathom $100 trillion, even though we try to act smart and stuff. So to consider, Frank, it’s a 21 point notch rating, I believe. So they did one out of 21. I think that’s what I read. That’s impressive. Rounding up, that’s a whole five percentage points. Let me be clear we’re obviously the cleanest dirty shirt. Frank, if you have trillions, hundreds of trillions goofy numbers you don’t think you don’t deserve the best Florida credit rating in the world. Are you kidding me? This is insulting on so many levels because it’s like hey and again what I mean by. They’re right.

Everybody says, oh, it’s unsustainable, we’re unsustainable. Fed Chair Powell says it, secretary of Treasury Besset says it, donald Trump says it. Every elected idiot says it. Point is it can go on for decades. It can go on for much longer than we think. It worries you. It makes me nervous. It should, but it shouldn’t push you to the point of, as Frank just said, selling everything.

Frank, last thing on Dalio I like what I think he’s trying to do here. I just think he’s doing it in a not so good way of PR, because he did say hey, the downgrade is even worse. Because they don’t talk about how they’re going to have to. They, being the government’s going to have to print money to get out of the situation, which is going to amplify the concept. At least they’re calling attention to that. But what it does is it brings front and center the great conversation and maybe we segue into this.

It’s no coincidence that gold and Bitcoin are at all time highs or near, because it’s not the end of the world. So if somebody says, hey, the US dollar is going to continue going down and it’s so unsustainable and we’re really going to have some remaking of the system, ok, have exposure to gold and Bitcoin, you’re safe, and then enjoy all the fear and craziness on the Internet, but laugh at it Because, Frank, that’s the answer. Have exposure to golden, Bitcoin and you know what? You take the end of the world out of the scenario. So back to you, Frank, but do not take this too seriously and do not allow this to make you sell out of assets that have a tailwind because of the stupidity that led to the downgrade in the first place.

0:09:44 – Frank Curzio

Yeah, that have a tailwind because of the stupidity that led to the downgrade in the first place. Yeah, and we’ll see. This shit started in the fan through yield spreads, which are still narrow, showing that we’re okay. We’re all talking about these high debt levels, which is, which means a lot of this is factored in already. All right, and it’s nice to see everyone talking about it, because during the credit crisis, we weren’t. And for those who are calling for Armageddon, two things Last time we saw a global financial crisis, 2007, 2008.

I’m not talking about COVID, because we just spent a ton of money. We knew the economy was going to open up, right. This is something like a global financial crisis where we’re like holy shit, what’s going on? We have no idea because of our shitty banks and what they did right and leveraged themselves, made fortunes. Nobody went to jail. We all know this scenario, but what?

But what do we see our government do? They did the unthinkable. They invested in all these companies and bailed out everyone, and I always said this is the worst thing that ever happened. It wasn’t just a global financial crisis. The government did what they had to do, because we probably still have a 35%. We’d probably I mean right now, if we did nothing and people like, well, let the markets do what they want, we’d probably have a 30% unemployment. A lot of banks would have disappeared. People would have lost their money. They did what they had to do to make sure the system was solvent, right. But the worst thing to happen is the government made a freaking fortune on everyone. They bailed out Every single one AIG, the big banks, fannie, freddie they’re still in conservatorship, making billions of dollars. So what does that mean? The government’s going to spend an unlimited amount of money before we see a big bank have a run on it, which we can’t. Because if you thought they were too big to fail, then they’re all three to five X bigger than they were back then the four largest banks. So they are going to spend a massive amount of money to bail us out again and again, and that includes the Fed and lowering rates.

Number two all people who coin for Armageddon and a dollar will lose its reserve currency status and the market’s going to crash 50%. I can tell you personally. Not one of these and I’m not going to curse here not one of these people are short the market. They were never short the market and they never will be short the market. They’re going to claim that, oh my God, it’s the end of the world. In fact, they’re all trying to sell you some financial product and subscription, which is hilarious to me, because everything is going to crash outside of the price of gold. Don, everything is going to crash outside of the price of gold. Don’t buy gold stocks. They’ve always crashed when the market crashes and Bitcoin right.

So the fact that so many of these people have been calling for this in the 1970s and never have gone short but they forced so many people to pull their money out of the markets for decades and decades is a shame. But I would love to see these guys’ portfolios where, if you really think the market’s going to fall, show us your portfolio. Show us that you’re short. I want to see it. Okay, don’t just say it and say, oh well, we’re going to help you out if you subscribe to our product, which has stocks in it, right, which is a joke, which is a joke to me. So you know, when I see this, it really pisses me off. When, if you really feel this way and you think the market’s going to crash and holy because the dollar loses reserve currency status.

I don’t think people grasp that concept of what actually happens. That means we lose our freedom. That means we get taken over as a country. That means our houses get raided. You have no assets anymore. You know people don’t talk about like that full extent. If we don’t have the reserve currency status which again, is not going to happen, it’s not going to happen in our lifetimes. But we have to be concerned about this Now times, but we have to be concerned about this now.

Our advice has always been for for well over 10 years, right, especially when it comes to Bitcoin. We recommend Bitcoin. Since what? Six thousand, right, six thousand still in our portfolio, in our crypto portfolio, our advice always been own Bitcoin and old gold as insurance. That’s it own those two. Has gold done anything? No, hasn’t anything. But you didn’t hear us shouting at the rooftops and yelling at all the Bitcoin people. You’re assholes. You have no idea. At 7,000, at 12,000, at 50,000, at 70,000. You’re an asshole. You’re an asshole. Michael Saylor’s an asshole. He has no idea what he’s talking about. It’s now 110,000, right, closing in on that. It’s at all-time highs. It’s going to continue to go higher. That’s insurance on your portfolio. Have 5% to 10% of it because my gold portfolio has done shit for five, seven years, but I wasn’t all in on gold. Don’t go all in on gold. Don’t go all in on Bitcoin, even though if you went all in on Bitcoin, I know you could say well, I went all in.

0:13:34 – Daniel Creech

I got a lot of money. Right now I get it.

0:13:36 – Frank Curzio

But you weren’t saying that when it crashed to below $60, but those should be staples in your portfolio 5% to 10%. I wasn’t complaining when gold hasn’t done well. I was in a lot of stuff that offered me five-year warrants. I was able to cash in. Now gold’s doing better, right, but it was a good four five-year stretch where they’ve done nothing and we’ve taken losses on some of these things.

Now is a great time. You know gold going higher, no-transcript, the new administration, so gold makes sense, gold stocks make sense, Bitcoin makes sense. Those are the best plays you know. Own that stuff because that’s going to protect your portfolio. But we’ll know when things get worse, because we’ll see the bond market collapse which we saw recently, which scared the shit out of Trump and it’s why he’s like oh wait, a minute, about those tariffs, we’re not going to. We’re going to have tariffs on China, but we’re not going to include electronics, EVs, this and all these exclusions.

Because Ben’s tapping on his shoulder and said listen, you know, and the bond market is telling you that and that’s where you see right now. The bond market is not telling you that you need to be extremely worried about it. It’s a concern. Don’t pull all your money out of stocks. You don’t need to. We’ve said that for a long time and stocks are approaching all-time highs. Now again, right, with a 5% off, 4% off. So be concerned. I love the fact everyone’s talking about this. It’s with less spending, which could hurt the market, because we want to see more spending that drive stocks higher, even if the spending comes from the government, which we highlighted numerous, numerous, numerous times over the past five, seven years, especially after COVID. But own gold, own Bitcoin. That’s your insurance and you should be happy with those two hedges right now because they’re doing very well, probably the two best performing things in your portfolio right now, especially this year.

0:15:21 – Daniel Creech

Yeah, absolutely, Just quickly, I think and I’m not claiming that we know all the answers or anything like that, but just frame. The question is what do you think gold and Bitcoin and yields are telling you right now? You have this US downgrade, you have stocks I know one day doesn’t necessarily make a trim, but I’m looking at the markets right now the NASDAQ is back into positive territory just by a smidgen, but you have the Russell down, S&P down, Dow down all about half to 1%, but yet Bitcoin’s at a new all-time high. Gold is not a new all-time high, but it’s doing well. It’s not selling off like crazy.

The point is there’s enough there to understand that the market is telling you, in my opinion, to have exposure to that, because you’re not going to have the correlation in those assets that you’ve had in the past. By definition, it can’t stay the same. We don’t understand the rate of change. That’s what we want to pay attention to. But just try to think in terms of hey, what is it doing and what is that saying, and I think that that’s very helpful. Yeah.

0:16:16 – Frank Curzio

Now I want to get to earnings A lot of earnings coming out, even though earnings season is mostly over, but yeah, you’ve seen come out. I want to highlight this If you are not a subscriber to our Wall Street Unplugged premium, I’m going to promote the hell of it right now because I want to see you guys make a fortune, okay, and you’re going to be able to do that, hopefully be able to do that. I’m not supposed to say you’re going to, but we highlight a lot of stocks. We have picks in our trading portfolio and this is $200 a year. I think we have that offer on crazyresearchcom and that’s a special podcast. It’s not on iTunes, which, by the way, itunes they’re getting sued Epic’s back up, fortnite’s back up, and that’s a whole other conversation.

I want to address that tomorrow, why that’s significant for Apple and other companies, when Apple could have just said the right thing and said you know what? We’re not going to fight it. They lost and now it’s going to result in billions of less revenue. I’ll cover that tomorrow. Cause that’s pretty insane for Apple, cause it’s just messing up by being greedy. You didn’t have to be that greedy with your, with your, with your platform, but it’s $10 a month for to get that portfolio. And it’s a trading portfolio where we almost come up, Daniel, with a pick every week. Maybe you know it’s safe to say it’s 40 or something, 40, you know picks a year or whatever it is in trading, right, and those portfolios in our industry go for anywhere from $1,000 to $5,000, and this is $100. And the reason why is because we were talking about CoreWeave and we really pounded the table on CoreWeave and I really digested those earnings and we had a whole segment on. That was Wall Street, unplugged Premium and said look, this is $100 stock. And this is when it was 58, 59, five trading days ago. Now they came out with earnings and I thought their earnings were great. They beat them and the stock went up and it went down, went up and wound up finishing down.

And then the CEO got on TV and talked about it. People worried about their debt levels and he went on TV and he said, look, when it comes to our debt level, say, if we have a contract and we sign it for $200, we’ll take out $100 in debt and then we’ll pay that off by the time the contract’s going as money’s coming in. He’s like that’s what we do so. We never take on debt unless we have the business booked. So, case in point $19 billion in debt Holy cow, this is a $25, $30 billion. It was a $30 billion company when it is 29 billion dollars in in backlog. So you’re saying, how the hell does this company have that kind of backlog?

And when I looked under the hood and really dug down and started listening to this and, by the way, a lot of, a lot of these firms who covered core weave, this is their first quarter of reporting as a publicly traded company. Usually when they report at night, what do we see? We see a bunch of reports that night and definitely early in the morning. They reported Wednesday night, thursday, we came in and talked about it and I didn’t see any reports. They all initiated on a month before. Because that’s what you do After an IPO comes out, all the investment banks that made a fortune on it in terms of fees are going to come out and they’re going to cover it through their research division and it takes 30 days.

So 30 days, all these firms that were part of that IPO, which was a couple months ago, came out with their initiation, but none of them really came out with their earnings. So we didn’t see anybody update the earnings and I started digging in, listed the conference call and stuff and saw that they have NVIDIA’s top chip is the GB200 Blackwell Superchip. Right, they offer it at scale, which no one could do, and that includes with their infrastructure. So CoreWeave has this direct line to NVIDIA. And then what does that mean? It means all the hyperscalers are fighting for the best chips and have tons of money to pay. We know what they’re spending in CapEx Amazon’s spending 100 billion, 100 billion alone this year. You have 80 billion by google, I believe, and then it’s 320 billion between the four, going to 400 next year. Right, just the four. We’re not even talking about the big like alibaba and oracle, which are also massive as well, right, and even you know ibm and stuff like that. So you know, just to spend on this is absolutely insane and it’s never slowed and reported that it’s never slowed. Okay, yes, the economy’s slow, but none of these come. They all came out with earnings. That said, we’re not slowing down spending. They cut a couple of contracts of releases not stuff that they own on AI and data centers.

So CoreWeave has access to these chips and they said at scale. What does that mean? It means that every hyperscaler is going to go to CoreWeave to get these chips, and I said this stock is a hundred dollar stock. You know, just buy the stocks, a hundred dollar stock and I didn’t think it would happen in five days, but the stock’s over a hundred, which is enough to pay for your membership pretty much through the next 10 years for that product. So am I selling it? Yes, I’m selling it, but I’m selling it because it’s making you money and I want to make you money. Now, one of the things I realized about this I’m going to talk about more on Wall Street Premium is our job. We have to do a better job. I have to do a better job.

The newsletter business has always been about generating sales for yourself, and what we did when we changed our business models. We said we’re going to focus on the customer, because if you make the customer happy, it’s going to result in more traffic. And a lot of companies have done this. If you look back at Facebook, dan, when they first IPO’d, that stock got hammered. They said look, we don’t know what we’re going to do in terms of our business model, making money, but we know we have an amazing product that people love and then they figured out okay, advertising, because they have the best advertising platform on the planet, because people tell them exactly what they’re doing. You’re not just putting a billboard up in 80, 90%. It doesn’t pertain to 90% of the traffic, right? Probably 95% of the traffic when these people on Facebook are telling you exactly what to do.

The point is we’re starting to see traffic explode across all of our platforms. Why? Because we’re focusing on the customer and for us, we always provided a stock pick in our newsletters per month. Why? Because it’s easier to calculate Everyone expects it Instead of just recommending a stock in between months. We have to do a better job of that. I have to do a better job of that because this is a company that I did not recommend the trading portfolio but told everybody to buy it, and I’m sure people did well. We got some emails on it, but it was going to go into our AI portfolio. But I didn’t think it was going to go to 100 in a week and I said, okay, let me wait, and it was going to go in and it didn’t go in. But people who listen to that podcast did well. That’s on me we’re going to revamp our whole system pretty soon of how we give you picks through our newsletters, because we notice that the performance within our podcasts and when we talk about stocks is very, very good, along with our performance with some of the stocks we put on the books.

But our goal here is to give you ideas that we believe are going to go up tremendously or that could avoid you from having a disaster. We’re going to cover a couple more of those stocks today. We’re going to do a better job and we’re going to revamp the system and be innovative here, because waiting on a specific day to recommend a stock when we really like it and you can tell in this podcast, we’re going to talk about Walmart in a minute. We’re going to talk about Target in a minute. We talk about Corweave right, and we’re giving you advice on it. Even with Starbucks is not in the books. We said avoid Starbucks. I mean it went up because 20% CEO. It’s going to take a long time for those guys to get that shit back. That came down. Chipotle is another one we’d have on the books and said avoid that because they’re struggling for growth. They’re trying to open up more stores. They already opened up and everything is not as good as it used to be and that stock has come down Again, things that aren’t on the books.

How do we get the information that we’re talking about on these podcasts to you even better? And that’s what we’re looking to revamp a whole publishing division. We’re maybe calling it like a Curzio Club and providing every single product under the umbrella for one price and saying here’s everything that you have, instead of charging 5,000 here, 3, you with real-time information and make money off of all of our picks that we’re talking about Sometimes in the podcast, sometimes when we’re officially recommending our newsletters. But we want to have this ecosystem where everybody has access to it and you could basically buy, sell short whatever you want to do, buy puts, buy calls on whatever we’re saying throughout our podcast. So it’s trying to figure out that, because it’s going to be much better for the consumer, for the subscribers, and that’s how we always thought, that’s how I always thought about business. If you provide a great service for your customer, it’s always going to work out really quick.

I don’t want to beat this to death, but even tokenization. I have so many companies talking to me about tokenization. Every single time they talk to me about it. The idea benefits them. I’m like how does it benefit your customer? They’re like, well, it’s going to be easy. I’m like it’s not going to be easier. How can you explain wallets to people when people could do things in real estate that they don’t need a wallet for? So when you figure out what works for people and providing them a better service, that’s really no one’s really providing them with, or very few are, especially in our industry, in the financial newsletter industry. It results in more and more people talking about you, more traffic, which we’re seeing across all of our social media platforms.

Now we’re like how do we improve this even more? How do we have a better experience? How do we get more of our picks? Because we analyze so much, Daniel, I do so many of these picks and through earnings season, especially 13Fs we’re gonna cover in a minute. That’s what we’re gonna be doing. We’re gonna be revamping this to make Better for you not better for us, but better for you, better price for you and think about okay, if we do the right thing, we know that we’re going to have not just thousands of tens of thousands, but millions of people coming to our platform.

No-transcript, they just had their initiations on it, but going through it and being able to see and saying, holy shit, these guys have a massive, massive growth runway that’s tremendous going forward. They addressed that biggest concern which made the stock was up and then it came down because of the debt and said, hey, we only take on debt when we sign a customer and then it’s only half the amount and then, once we do that, we build it, we pay off our debt immediately. That was pretty amazing to me, because you’re taking off the main risk that nobody wants to buy the stock for. You’re taking it off the table. Now all you see is wow, these guys have the best chips, they have the best technology. They’re seeing massive demand. And who are they seeing demand from? From the people who have the most money on the. And when you take all that shit out and just look at the details, you’re like this stock’s gonna go a lot freaking higher, and it did.

I didn’t think it happened in five days. If it did, I would’ve took out a mortgage on my house, but we said it was going to 100. We made that prediction. It’s already 100 and a lot of people have taken advantage of that. I’m really, really happy for that. We wanna make sure everyone takes premium. Again, it’s a hundred dollars, which is what philippi car twice, and I mean you would have made a fortune on this. We’ve had lots of other names that we talk about as well on that podcast palantirs, uh, you know. Galaxy digital, you know. So we’ve talked about palantir, oh, I know I’m having fun with you?

0:26:22 – Daniel Creech

oh, because he stands shaking a palantir. But we’ve talked a lot about that, but no, that’s okay, you called it, I didn’t call it going to 100. It’s 109. It’s up 20% again. Today we told you, people, this is the most humbling business outside of golf there is.

0:26:36 – Frank Curzio

Yes absolutely Absolutely. So, yeah, so you know, our industry does need disruption and that’s how we’re going to disrupt. It is just providing a lot more of these things. Not only that, we recommend on the books that we talk this way. How do they just filter into their portfolio really quick? Because otherwise, if we do it on a month, it’s a publishing schedule. It takes a day to go out, which is very quick for us. Sometimes it takes a week to go out. It takes a day for us because we do videos.

A lot of people write 10-page reports, which if you have a stock and write a 10-page report, it’s going to take you a week. What does that stock wrong? Where the stock fell on this news and I’m like the stock should not be down on this news this company is one of the best pure play AI companies outside of NVIDIA. Who else is a pure play AI company? Who else Right, pure play AI companies? Ai is a part of all these companies, but it’s not a pure play. This is a pure play AI on this segment. That’s going to be. You’re going to see massive growth for decades and decades to come, and they get the best chips in the world, the best technology, the best infrastructure and that’s what the companies that have the most money on the planet and are spending like crazy need, and CoreWeave just fills that gap. Good for them. They did a great job and hopefully a lot of people took advice on that.

But now let’s get into some other earnings, because we had what Walmart report, which was another disaster. We had TJ Maxx report, which was good. It’s down a little bit, but it’s at its all-time high. We had Carter’s I’m talking about retailers and you know Carter’s is pretty big. They have, you know, 1,000 stores a week. Quarter stocks down 10%. There’s something that’s linked, Daniel, to all these retailers that are reporting. And if you’re going to buy a retail stock, it’s simple Make sure that they’re growing and that they have pricing power. It’s that simple. If you don’t have pricing power, especially as a retailer right now, you’re done.

They’re going to blame tariffs Walmart’s blaming tariffs. I said they’re full of shit. Blaming tariffs. They have to raise prices because they’re multiply, trading almost 40 times forward earnings. This is a staple, right? You can’t trade that level unless you constantly see growth, and they’ve done a great job seeing growth and inventory management and great supply chain. And fantastic, you’re getting into AI, I get it. But now you’re at the point where, oh well, we’re going to raise because of tariffs. You know they have to raise prices, not because of tariffs, because they have to maintain that multiple. The good news, if you’re a Walmart shareholder, is they have pricing power to do that I don’t know how much before you say, oh okay, I’m not going to go to Walmart, I’m going to go someplace else, but they have pricing power. Tj Maxx came on and said they have pricing power and they just said that they could pass off higher tariff costs, not just to customers but through their suppliers, which is great Stocks at all time high.

Carter’s didn’t say that. If you look at Target, target didn’t say that. I mean, it’s just weak earnings, lowered guidance. This was supposed to be the quarter Daniel. For Target, they reported same store sales down 3.7%, 3.8%, which is a nightmare. You know why? Because when you look at comps they go year over year, okay. So they report the quarter results and they compare it to a year ago. A year ago sometimes you’d have a great quarter and you have same store sales up 10%. So that means that the next year overlapping. It’s hard to beat that estimate. Target last year. Okay, last quarter they were actually up in same store sales. Last quarter they were down 3.7%. So everyone was like, okay, they’re definitely going to report positive. They reported positive. Last quarter they reported down 3.8%, right.

So Stephanie was on TV and I think she said it perfectly because she owns his stock and it hasn’t done good and stephanie is very good and I like her and you know I know her very, very well and she I gotta get it back on the podcast if she can. I asked a couple times and just fell through, but she said something uh interesting on cnbc a little while ago. She said target used to have an execution problem, right, the supply chain. They couldn’t get inventory right. So now they have both an execution and a traffic problem. And you saw that because not only did they say traffic funny way of saying traffic is like we’re just not seeing sales have come down but there was a traffic problem but they also said the average ticket price came down, which means you don’t have pricing power. So Target is unownable right now, even though it’s trading 11 times forward earnings.

You want to focus on the companies that have pricing power, that are growing earnings, that are growing sales, because they’re seeing tons of money pour into them because there’s fewer of those companies. And you’re seeing that trend take place where a lot of companies are at 52 highs and you’re seeing this explosion because you used to have all this money going into, hey, these stocks are growing. Now there’s not as many that are growing that are able to handle this tough environment of higher interest rates. You’re seeing, you know, tariffs is kind of like question mark in certain countries. Still, you know, still have that uncertainty. You’re seeing slower consumer traffic and discretionary spend. So how do you navigate the environment? It’s fewer companies.

The ones that are doing it are kicking ass and seeing massive money flow into them across the board and some of the others are not. And if you want a good example of this, I mean there’s lots of stocks, I mean you could go to Netflix, you can go to Visa, mastercard. You know Galaxy Digital look at the utilities are on fire too. Look at NVIDIA, right. Look at NRG, look at Palantir, look at CoreWeave, right.

So it’s not all companies, but the companies that are seeing tremendous growth.

They’re not looking so much at the valuation, they’re looking at wow, these guys are going to start taking tons of market share because not everyone could operate in this environment. And that’s where you’ve seen the money flow into A lot of these stocks at 52-week highs, all-time highs, and going higher. You’ve even seen Boeing part of that, well off its all-time highs. But now you’ve seen this transition when, holy shit, you have this runway of massive, massive growth that they always had. They just again they just ran into so many problems with their planes. Now it seems like that’s behind them new ceo, they’re traveling with trump which is great, being on the right side of politics and now you’re seeing tons of orders come in. And now you’re seeing a lot more money flow into boeing, which again is my top pick from the beginning of the year. That’s going to be the best performing in dallas. See, it happens. If it’s not, it’s going to be in the top five, but that’s a company that looks great right now. We’ll see what happens.

0:32:07 – Daniel Creech

Hey, it’s doing well. It’s off to a good start in Dollar Stock Club. Another free pick for them. The big takeaway for me on Target and Walmart is Target definitely learned from Walmart on what not to say. Walmart came out and said they’re going to raise prices because of tariffs. That upset you and another gentleman who happens to be president, he told Walmart to eat the tariffs. Target came out and said hey, we’re not going to raise them because of tariffs. I think that’s kind of hilarious. Smart Frank covered this. Yeah, I mean you got to play the game within Play the game we don’t. When we say play the game and stuff, it doesn’t mean that we agree with the game. It means if you want to make money like IBM is traveling with the president.

0:32:48 – Frank Curzio

The president, look at them all. I mean, if you see all those companies, right, even you know Larry Fink, right. So BlackRock, it was. You know NVIDIA’s traveling with them You’re looking at, you know, just, the president of Google is traveling with them, right? These are companies that will kind of, you know, even on a liberal side or whatever, but they’re on the right side. Where what’s happening to the companies, they’re all like in Middle East. They’re all like in middle east. They’re signing deals and when they’re signing deals, their stock’s going to go higher. Look at boeing their stock’s going higher. So you know that’s what we say.

When you’re being part of this part of the deal, it’s not so much where you know it’s political. We’re talking about your portfolio, like the companies that are around the president. If you look at last administration, they were like, okay, we’re going to give taxpayer dollars to people who support us that say what we want to support, right. If you’re looking at social media companies and they were like, ok, we’ll do that. That’s different. It’s not that they’re getting taxpayer money. They’re getting money because they’re traveling to different countries and now they’re part of the group. They’re on the inside of that group and you want to be an insider group as a company and because it’s going to result in more contracts, more revenue, more profits, your stock’s going to go higher and it’s a win win. That’s how you have to think about investing. But, the politics aside, you want to be in that circle. You have to be in that circle, whether you hated Trump before you like Trump, whether you hated Biden, previous administration, no-transcript Department, whatever. Who knows what happens?

0:34:19 – Daniel Creech

Well, it’s just drama. And then you got to talk to Secretary Bessette and then it’s just a whole thing. We’ve been in and out of some of these names. You traded V, not traded, but we invested in one of the portfolios in VFC. Got out of there for a small game, thank goodness. That’s just been a crazy show. But in their defense, their defense, being retailers in my for me, Frank, having to juggle logistics, tariffs, apparel, you know it’s just a tough business. If you want to play in that game, I would stick to.

Breed Friend of mine gave me the most simplistic investing advice ever on Ralph Lauren. Frank, buy it on any pullback. It is what you just said pricing, power and all that quality. Ralph Lauren is in a. If you pull up the stock, it’s, I think it’s at a 52 week high or RL it’s. It’s either at or very close to a 52-week high. Of course it’s going to be volatile. It’s going to sell off when the market sells off. But I wouldn’t run to play in the retail space. But I understand that different opportunities strike different people and all that. I would encourage you to do some stuff, but I would start with stick with quality and Ralph Lauren is.

0:35:29 – Frank Curzio

It’s not just stick with quality. If you look at Ralph Lauren, it’s at near its all-time high here but it’s companies that have pricing power, that are very, very large, that control their supply chains where you know look what TJ Maxx said. Hey, you know, not just through consumers and raising prices. We could actually do it on the supplier side as well. Right, getting all their clothes and everything, all the high inventory and stuff like that from all these other places that they’re able to get. Okay, well, it’s going to be a little bit more money now and these guys are dying to get rid of a lot of their inventory because not everyone’s been on the right side of that. But Amazon, costco great job at doing this, you know. Just able to spend, you know, 25x the amount of, say, even a mid-tier or some of the even large tiers. On AI, on management, on supply management, supply chain management, things like that. I’ll never forget.

Walmart reported their worst quarter. This was a few years ago, three years ago I think. Shortly after COVID, the stock absolutely crashed and they said we have massive inventory. It took them one quarter. One quarter to fix that problem. I was like, holy shit, you know how hard it is one quarter to do that Target. They still have an inventory problem. Since COVID it’s been six, seven, eight different quarters and they’re still talking about it.

So you know, these are the companies that have pricing power that understand that, hey, we can manage tariffs very easily by raising prices or, you know, changing our supply chain around or whatever we have to do. Those are the companies in retail, because those are the ones that are seeing tons of money flow into them. And if you do like you said, ralph Lauren, you have the Walmart, the Costco’s, the TJ Maxx’s. There’s a reason why these stocks are near their all-time highs and a lot of other ones are still down 50% from their highs because they can’t manage this environment. It’s very difficult for them. It’s not as difficult for some of the big guys. Those are the companies. What else you got in terms of earnings? Are we going to go to 13Fs now?

0:37:10 – Daniel Creech

Nothing, yeah, I mean and not unless you, I don’t have any.

0:37:13 – Frank Curzio

There’s not a lot of companies reporting earnings right now. There’s just not.

0:37:15 – Daniel Creech

It’s pretty much after earnings season. Do I look like a retail expert Look?

0:37:19 – Frank Curzio

at this shirt.

0:37:19 – Daniel Creech

It’s just retail companies are reporting right now.

0:37:25 – Frank Curzio

Do I look like a retail expert? Oh, you know, what I was going to say is about this really quick, because I did a cool segment on this. This from Toll Brothers and the Home Builders remind me of what the technology the largest technology in the world did after 2000. A lot of them almost went out of business in dot com and they realized that, okay, we have to strengthen our balance sheets. There’s a reason why they have some of the strongest balance sheets today. This way, when the shit hits the fan, they could be aggressive, right, instead of being passive, and a lot of companies do that because they’re pulling back. We got to watch out what we spend. A lot of times those guys would be like, okay, now we could, you know, be on the hunt M&A because we have so much money on the sidelines. When you look at the home builders right now and this is a company that’s down tremendously Toll Brothers they report a good quarter and it was again. It’s 169 and it’s 100 now, right, so it’s still down and I get it.

But these companies are so well managed because in 2008, they almost went out. We almost went under in 2008, 2009. And 2009,. I remember that the government came out and they bailed out the home builders. Okay, nobody really knows this, but they said you’re carried losses. Instead of doing it for one year, we’re gonna carry them for three years. One year, we’re going to carry them for three years, and this is 2011. I think they said this early, so which means they can carry those losses from the credit crisis all the way through, for, you know, through 2012, I think it was something like that. It was another year and a half and I said you know to Kramer, these things are trading at nothing. I said this is massive right that they could take those losses and actually carry them forward now for three years. And since then, these companies have been managed unbelievably.

And, yes, some of these stocks are down, but we’ll talk about 13Fs in a minute because someone added to Toll Brothers or just initiated on Toll Brothers Some of these. I know interest rates are higher. I know there’s a lot of shit going on, but these are well-managed companies and when I look at Toll Brothers and where it is and how much it’s down again, 170 it was and it’s 104. A lot of that’s priced in, but these are good companies and I really like the quarter they reported. Again. Higher interest rates is not the best thing, but new homes are still going. They’re in the right areas. They understand the markets tremendously. They’re using AI. They’re fantastic. These are really good names that I would pay attention to, because they’re discounted so much and off everyone’s radar.

0:39:33 – Daniel Creech

But, yeah, toll Brothers pretty decent quarter, yeah, and this is a luxury and, Frank, stop me here if I go off on a bad rabbit trail because, um, I want to add to that when we say, when we talk like this, it’s like right there, for instance, Frank’s not telling you we’ll see if I’m true or not about running out and buying toll brothers. It’s as simple as hey. If you want exposure to this, here’s some things to look at to start that process and that’s how hopefully we can kind of understand and what he talked about earlier, getting that message out across. Given the environment, I agree with you, this is awesome.

But, man, if you buy Toll Brothers here and you think, hey, if they report another solid quarter, this stock could go up I’ll let Frank speak to this, but I mean the headwinds, I’m not saying you can’t add it here and if you want exposure and what your thoughts and beliefs are on that sector in general, but don’t think that just because these guys can put up another strong quarter, the stock is going to go higher. That’s not what we’re talking about here. But we’re talking about, hey, just like oil and energy companies, these companies are not the same companies of boom and bust cycles in the past and if you want exposure to that segment going forward or sector or you think that the chains or tides are turning, that’s when you want to look into that and then kind of go through that checklist. But hopefully that’s more clear than not. But if it’s not.

0:40:38 – Frank Curzio

It’s a good point If it’s not clear. This is a mistake I made right away. If I say, hey, you should buy Toll Brothers and you don’t know anything about Toll Brothers, you know what the average investor is going to say you’re out of your mind. R. They just went high. We had that downgrade. You’re crazy.

Buying this stock right now it doesn’t make sense. Home builders are going to see profits fall, whatever. Well, okay, that’s great. But you have to look at the price of the stock. It was 170 and it’s 100 now. Right, it’s 103. You’re looking at a stock that’s growing earnings and sales still and is trading at seven times forward earnings right. And then you’re 13% gross margins of 26%. These are well-run companies that a lot of that shit’s factored in. So what does that mean? If the Fed just hints at cutting rates, which they will pretty soon, because the housing market’s going to be pretty frozen right now with rates going a little bit higher and we’ve seen that on mortgage demand you’re going to see these things really take off and pop 20% from here in a second. Just on the thought that they’re going to lower rates a little more aggressively. Which now it was six rate cuts, it was four rate cuts, three rate cuts. Now it’s one. No one, it’s one. It’s now down to one.

0:41:37 – Daniel Creech

They were expecting one rate cut this year which I think is crazy.

0:41:41 – Frank Curzio

So you know, once you see that the Fed hints at that, then OK, watch out, because now inflation is controlled we see inflation control even through tariffs. It see inflation control even through tariffs it’s going to give the green light for the Fed to be like, okay, maybe we should lower a little bit which we’re going to have to lower our deficits. But these things always look at the stock price, because you know at first glance, without looking at the stock price, you would say no way am I going to touch this. But I just saw a pretty cool fund manager who I like it’s under the radar actually just added this, you know, a couple months ago and I think they’re gonna do very well on it.

So always look at the stock price and see what’s factored in, because you make the mistake and saying I’m not touching any of this. That’s what everybody said when I was at 160, that’s why it’s at 100 right now. And just go through the process and see again don’t hate the stock, hate where the stock is trading, hate the stock price. And then you could be like, okay, I don’t like where it’s trading, like amazon’s a great company, but maybe you know it’s too high for you right now. But if it goes down 30%, which NVIDIA went down below 100, and we were aggressive saying buy the hell out of this company. They still have massive growth. And look, it fell a little further and I was a little worried about looking like an idiot for a minute. I’ll be honest with you. But now, where is NVIDIA? Now it’s all the way back up, because when you have that massive growth and it’s 134. It’s 134. We’re pounding the table on that stock.

0:42:48 – Daniel Creech

It was like 94, a couple weeks ago.

0:42:51 – Frank Curzio

Yeah, so these are names that are just really good names Hate the stock price. When that stock fell tremendously, we were like you got to buy this thing, even after earnings. When it reported earnings and it was down like 110, 115, we’re like this thing, you got to buy it and everything’s intact. So let’s go to 13Fs now and break that down and you, to start with that, 13s, so 13s guys, just to bring everyone in.

This is like you know a filing that all fund managers, I think if they manage over a hundred million dollars, have to file their buys, their sales. You know their debt, you know what stocks that they own and, to be fair, some of them have offshore accounts and trusts and things like that that you’re not gonna know about. Uh, you know to keep their percentage down 10 of filing, because if you own more than 10 you have to file. But a lot, a lot of these guys they all have to report and, to be fair, this is what they own as of two weeks ago. The last two weeks they could have sold out of these positions completely. So you have to look. Is this just a hedge fund manager that is in algos, which?

0:43:44 – Daniel Creech

is useless. One change this is what they owned during the first three months, so they could have this. Isn’t just two weeks ago? I mean, no, that’s when they had the file. Yeah, they could have dumped these things over the past two weeks.

0:43:55 – Frank Curzio

These are holdings for the first quarter, so you’ve got to be careful because if Icon just added to a position we know that Icon usually adds to positions over time we know that some fund managers, like Buffett, adds to these things over time. So if they just initiate on a position, but you know, with the algo funds they could be out of everything in a totally indication of what they’re buying, what they’re not buying. And you know I’ve made a lot of money on this because some of these guys have bought names that go down 30%. And then I’m like, wow, I know they’re going to continue to buy. The thesis is still intact. Let’s buy 30% lower than Icon. But, michael Burry, and you know you’re getting a 30% discount from some of the best money managers in the world and sometimes that makes sense to buy some of these things. But you but you know why don’t you start? And then we’ll start nailing a couple of these things.

0:44:34 – Daniel Creech

Yeah. So one of the things that stood out to me and this isn’t a buy, this is a look at it, because Carl Icahn is somebody that I follow. He has a huge position and I don’t know if it’s made up of more than you know dead instruments or whatever, but JetBlue, Frank, talk about just a crazy sector. I also went down this rabbit trail with Mr Icon on Xerox, xrx. Frank, if you pull up a chart of XRX, you’ll see that it’s been an absolute disaster and then some. So I never got into it. I was always curious. The way I looked at this was, as Frank just said. I found a lot of ideas on this. If something catches my eye, I kind of wonder what are they buying this? They’re smarter than me on this. Xerox just looked to be a dying business that could sustain a strong or decent dividend. That’s out of the woods with interest rates up. So I’m not saying, hey, anything that catches your eye is a buy here. It’s just kind of thinking out loud there.

Frank, my favorite Stanley I have to read it slowly drunk in Miller. He added new position was in Caesars Entertainment. He added new position was in Caesars Entertainment. I did notice a couple of things. Just looking broadly across some 13 Fs, I thought there was more bets on the consumer than I would have expected at first, Frank, just considering kind of the nervousness around tariffs and global recession fears and such like that. So DraftKings popped up a couple of things that’s more your bag than mine Again, carnival, a couple of cruise liners we’ve talked about, but Drunken Miller has been in and out of a couple of these stocks in the past, notably EQT, huge natural gas play. He started in a new position in that of 859,000 shares. Ar, another natural gas play, both Curzio Research Advisory Holdings. The only reason I’m giving those away is because we’re big on them. I thought that was interesting. And Frank Berkshire because good old, sweet Uncle Warren, the nice guy gets special privileges because he’s I don’t know if it’s because he’s rich, or he’s old or whatever.

0:46:29 – Frank Curzio

It’s not just him.

0:46:29 – Daniel Creech

I’m having fun, Frank, don’t take away from the fun Anyway, when you’re a special interest player you can go to the SEC and say listen, I know I have to disclose stuff, but if I disclose to the world what I’m buying, all these little minions like Daniel Creech are going to go out there and talk about it and buy it and the price is going to run up and it’s going to cost me more money. So, sec, give us a blanket to not tell anybody who we’re buying so we can accumulate more shares. They recently did this with Chubb Insurance. That’s a big fan favorite of ours.

Frank, any speculation, I think the only thing I can say, because we’re taking one out of several thousand stocks to choose from. I will say I think it’ll be a big consumer spending play. I think it will shock a lot of people that they are buying. It’d be like Disney is what I’m thinking. I don’t know why I’m feeling this goofy way, but I think they’re going to surprise people with a consumer spending stock or consumer discretionary. We’ll see. I don’t know why I think that way, but we’ll see.

0:47:28 – Frank Curzio

It will be. I don’t know. I mean Disney’s a heavily traded stock, so I don’t know. I feel like it’s more like a mid-cap type thing to get the exemption from it. But I don’t know, we’ll see. Maybe it could be Disney. I’d be surprised if it’s Disney, it’s just—.

0:47:41 – Daniel Creech

I mean like it’s going to shock you like that. I don’t think it’s Disney personally, I just think—I don’t think it’s going to be Chubb you know.

0:47:50 – Frank Curzio

I just think it might be like a payment service, like a PayPal or something like that. I think, if I had a guess, this was going to be. If it’s Bitcoin, we’re going to cover the stable coin that killed Buffett himself.

0:47:59 – Daniel Creech

Listen.

0:48:00 – Frank Curzio

I just got to know from one of my biggest investors in our company. But Citigroup just hosted a very, very important call on stable coins and they wrote like something I want to say like a 40-page report might have been long on stable coins and the whole process and how big this market’s going to be in trillions. I’m going to cover that tomorrow. It really is fascinating.

0:48:17 – Daniel Creech

A vote just took place there. Yeah, that’s progressing through a stable coin bill.

0:48:20 – Frank Curzio

Pay attention to it because it’s a lot bigger than just stable coins and crypto. But really quick, on 13F front, I will say you know Gates decreased his position. He lowered his position in Berkshire by over a billion. Does that because of Buffett retiring? That was a pretty sizable position. But Peconic Partners is a $2 billion fund. This is what I talk about.

$2 million new purchase of Array Technologies. It’s a software solution and tracking company for solar companies, kind of like the software and hardware behind all the solar. We know solar’s got annihilated with China tariffs and stuff like that. I just thought it was interesting. The stock is down from 14 to 7, so interesting purchase that I’m going to take a further look at Array Technologies. Michael Burry, scion Capital bought a shitload of puts on China-related stocks. Yeah, alibaba, 200,000, 100,000 on Baidu, 400,000 on JD, which is interesting, you know, and that was probably came in before. You know we signed the deal with China and stuff like that and a lot of those stocks I think have moved higher since then. Alibaba didn’t report good earnings and it came down, but a lot of old China’s went up once. We kind of signed a deal. That wasn’t really a deal, but what it did is removed a lot of risk off the table and provided certainty. Paulson bought a new position in Honeywell 200,000 shares. Not familiar with Honeywell? Honeywell’s just off their all-time high. It all-time high.

It’s an aviation supplier. Look, when I went to Boeing, the Boeing facility I think it was 2017, I came back and said, wow, I mean the slate on Boeing and how many planes for its new max jet was incredible and I was like these suppliers are going to go gangbuster and we did well, I think on one or two of those We’ll talk about Boeing, boeing and Airbus. They’re going to see demand absolutely explode. Literally thousands of new orders are coming, new orders, right, and they’re going to have to start fulfilling these. Where, yes, you had these orders, you had 5,000 jet backlog just for Boeing alone. So, these suppliers over the past couple of years, I’m sure I’ve been put on hold waiting for it. I don’t think you’re paying the suppliers and you’re paying them and it’s coming out of Boeing’s pocket until you’re actually billing these things, but you want to start looking at these. There’s a lot of suppliers. There’s a lot.

I really like that buy by Paulson. I don’t really follow Paulson too much. I don’t think his performance has been that great. I like this Honeywell position, buying it near its 52-week high because demand’s really like I said, the stocks. You want to be a lot more stocks, a lot more companies. It shrunk and now you’re seeing the ones. Look at the Palantirs guys. Look at the Galaxy Digitals. Look at you know again, we’ve seen Boeing in that as well.

Look at the utilities right. So, utilities. We’ve said this over a year ago well, over a year ago that you can’t look at utilities as a safe play anymore. This is the new growth market for utilities. These are growth companies. These are massive. You can’t look at them. Oh, I’m going to have this staple in my portfolio. These are massive growth companies and when you’re seeing that the Netflix and things like that the money’s pouring into I don’t want to say a select few, but probably a third of the names that they used to pour into, because maybe you had home builders thrown in there, maybe you had some banks thrown in there. Now you’re seeing the companies that are able to really benefit some of the retailers as well. I mentioned the Walmart, tj, maxx. You’re seeing a massive amount of capital flow into these names and they’re doing well. I think you’re going to see the same thing for some of these suppliers. We’ll probably have a special issue on that and talk more about the suppliers. There’s a lot of them, there’s dozens of them that you could choose from and I think you could just throw a dart and you’re.

You know, tepper lowered his exposure to China Again. Might have been before he struck a deal with China, but he lowered his exposure to BABA, jd, fxi, pdd, baidu Probably cut his exposure around 20% to 25% in each position. Still has relatively lost positions. He might have increased that Again. A lot of that stuff might have taken place because tariffs were insane. His thesis was on China seeing huge revenue growth which was completely off the table when they were fighting with the US. Now it’s kind of back on Again. A lot of risks to China. We know, we understand, we highlighted them. But you know, let’s see. I’m curious to see next quarter if you got back into them.

Another thing, like Tepper, that no one’s really talking about because they’re talking about China. Right, that’s the big theme. New position, new position. I think it was like 4 million shares or something Of Deutsche Bank. I love this trade. Deutsche Bank international has underperformed for over a decade, I think international.

I want to get Meb Faber on. He’s always been about international stocks. He has a podcast as well and I, like Meb I went golf with him. He’s a great guy. I know him well. He’s very, very brilliant. He’s just been a part of the international exposure and hasn’t done as well. I think he’s going to be on fire as a fund manager and ETF provider. But Deutsche Bank quietly at its highest levels in over 10 years. Deutsche Bank remember that name. So I thought that was interesting. Nobody really talking about that with Tepper. They’re only talking about the China exposure. Icon you mentioned doubles the position. Jetblue to 33 million shares. He was buying this name above 6-7, and it’s 5. It did fall below 4 briefly in mid-April. I’m not too sure if he added to it, but this is another company. It’s a horrible company. Jetblue. It’s horrible. If they don’t go bankrupt, there may be value here. But I have to do more of a deep dive into the valuations.

0:53:09 – Daniel Creech

More than likely he’s got a lot of exposure through debts or something.

0:53:12 – Frank Curzio

Yeah, I just I doubt. If he’s just got common stock, he’s got to be down in his position.

0:53:15 – Daniel Creech

Oh, I’m not arguing that either. I’m just saying I doubt he just has common stock.

0:53:19 – Frank Curzio

I mean, this is a company I’d rather buy it’s $5 at $7, $8, knowing that there’s more of a foundation. They had a couple of good quarters under him. I don’t mind missing that. I think you’re guessing right now and you know, for me I make sure I don’t take JetBlue, because a lot of them have direct flights to certain places from here, from Jacksonville, and it’s JetBlue and I just don’t like taking JetBlue. I really don’t like taking JetBlue. I mean, sometimes I’ll delay it. I have more problems with JetBlue coming out of here it could just be from Jacksonville than any place else. But whenever I take that freaking airline I’m like why am I taking this airline? For? I’d rather take two airlines in New York than take them from now on. But that’s just me. So why do I do this?

And remember what Icon too. It’s not just about the stocks he’s buying with Xerox and stuff like that. When you have a very, very big fund and the shit hits the fan, which should happen with Icon what are you doing? You’re seeing lots of redemptions when creates this forced selling of the biggest positions that he has, and Icon isn’t like one of those managers that have 30, 40 positions. They don’t have that many positions, right, Daniel? I mean he has maybe 10, 15, sometimes maybe five or six, and when you see those redemptions come in which you saw from everything and a lot of the bullshit going on we won’t get into that again. You’re going to see this forced selling on some of these names and sometimes that can result in an exceptional opportunity for you. I don’t see that in JetBlue. I think that’s past him. I think anyone’s going to redeem their shares and you know Ask for Money Back has already done that. I think the loyal people are going to be there forever now, but you saw that that may happen with Xerox and some of the other names.

0:54:48 – Daniel Creech

But yeah, I’m not telling you to buy Xerox here actually spent some time on it. I’m like again, maybe he had it for a while. It’s just fun to go down those rabbit holes and be like, hey man, what is this guy seeing Other than now watch? A big headline will come out, but anyway.

0:55:01 – Frank Curzio

Yeah, but look, we covered how many stocks today, right, and different ideas and telling you, like you know, avoid targeting and stuff like that going to follow the ones that we have on paper and our subscribers and stuff. But we want to take all that and be able to throw this right in our portfolio right away and say, hey, here’s the analysis, we already did it, here you go. You know, instead of writing it out, going through the publishing schedule, like in our job, is to give you stocks that go higher. What we do, what do we do, Daniel, as a company, we recommend a stock. I don’t really care if our performance is worse. I’d rather your performance be better, because sometimes that benefits us and sometimes it doesn’t. But I know that if we take the price of where it closes, if the stock comes out at 4 pm, right, dan, what do we do? We take the price that it closes at the next day, right. When we do that, typically yeah, typically, I mean we do that.

0:55:50 – Daniel Creech

Typically we take the same day when we it depends If we can get it out in the morning. We take that price If there’s several hours, if not, we just bump it to the next.

0:55:58 – Frank Curzio

And that’s not going to go up tremendously.

And we don’t mind taking that, which means a lot of our subscribers will be getting in a lot of times at a low price. If it’s going to close higher because we just recommend it, Again, I don’t really. What I care is getting you the right information at the right time, instead of waiting an extra week or a couple of days to recommend in our newsletter and go through the publishing process we have. Now that we have AI, we’re using AI exceptionally right now. We have a great team that’s using it. It’s all in, I pay for. I’m like just whatever you need to spend on AI, spend on it, because that is a future of our business. We want. We have great content. We want to get it out quicker and information, especially from our podcast that’s you know, Wall Street Unplugged Premium to everyone and say, hey, you know, call, we did a really big segment on that saying, listen, this thing’s going to $100, right. Again, I didn’t know it happened in five days, but we want people to have access to all that stuff immediately instead of waiting to put it on the books and stuff like that, because that’s going to benefit you guys and that’s what we really want to do.

I cover a lot of stocks, probably at least 25 we covered today. If I had to guess, what do you think? Daniel, 25? Jesus, yeah, we probably mentioned it, I mean 20.

Yeah, so, you know that’s going to change going forward. If you want access to you know, wall Street Unplugged Premium, just go to CurzioResearchcom. I think we’re offering something like $100 for the year. Stuff like that Again, which no one else really has access to. We don’t have it on iTunes either. Uh, you know you have access to that which gets emailed to you, so you know you have that link.

Um did that special podcast and you know we haven’t had one person that cool, especially when we get more details, which we’re going to get into a lot of details tomorrow on some of the suppliers, a lot of the suppliers that we’re going to go through through Boeing and take a look at them, and also we’re going to talk about Apple and certain things that really did get a lot harder for you guys to see if we could find lots of more trading ideas. So, with that said, good podcast, a lot to cover, right. A lot going on. Still have some earnings going on. Debt downgrade is no big deal. We covered it. Don’t worry about it right now. We’ll let you know when you have to worry about it, but you know, so far so good. Portfolios are doing good. A lot of stuff has bounced back, which is great, which we’d love to see.

But questions, comments, feel free to email at Frank@curzioresearch.com. Seriously, constructive criticism, anything. That’s what we’re. This is about you, and some of the things make sense. Maybe you’re asking for something that doesn’t make sense. I’m not going to change. I’ll be honest with you. But some other things you might be like hey, could you do this? This makes sense or whatever. But we want to be here for you guys and help you guys out, because there’s not a lot of sources out there where you could say hey, you know what? I really trust this guy and even when we get it wrong stuff he gets wrong, when he gets a million things more right than wrong and he’s going to attack me.

0:58:35 – Daniel Creech

No, no, I’m like dude, you’re good.

0:58:37 – Frank Curzio

I mean, I mean, you know the performance they’ve given seriously, even running the you know Curzio Research Advisory portfolio and stuff like that has been great. But you know we’re going to always talk about losers because you know that’s how you learn and that’s how you become a better investor and stuff. All the support Again. Any questions? Comments? We have Frank@curzioresearch.com, Daniel. What is your email, Daniel@curzioresearch.com. Okay, tomorrow we’ll see you guys. Wall Street on premium Again. If you want to subscribe to that, go to our website CurzioResearch.com. You can find the link and subscribe and you’ll have access to that portfolio Until then. Actually, we’ll see you tomorrow, take care.

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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.