Wall Street Unplugged
Episode: 1114February 14, 2024

The Bitcoin bull market is just getting started

Happy Valentine’s Day. I hope your day is smoother than mine—I’m running around trying to make this a special day for my wife and daughters.

Bitcoin has surged past $50,000—but we’re still in the early stages of this bull market. Last week, during Part 2 of my Crypto 2024 series, I explained why the next Bitcoin halving event will ignite several major crypto catalysts… and how to position yourself for windfall profits. If you missed it, don’t worry—you can watch the replay hereand schedule a one-on-one chat with me.

The markets went into panic mode after yesterday’s Consumer Price Index (CPI) data showed inflation is back. But some economists are already shrugging off the news. I go over some of the biggest risks investors are currently facing… and how to find winners in this volatile market.

Ridesharing company Lyft (LYFT) surged over 60% after reporting earnings yesterday… before crashing back to Earth mere minutes later. I break down what caused the insane market movement… and question how the SEC allowed it to happen.

Finally, I take a victory lap on my Super Bowl prediction. I hope you made my guaranteed bet.

Inside this episode:
  • Happy Valentine’s Day [1:11]
  • Check out the replay of Crypto 2024 [2:17]
  • Why are economists shrugging off the CPI? [14:05]
  • Lyft’s crazy post-earnings market action [27:58]
  • My winning Super Bowl strategy [34:34]
Frank Curzio
Frank Curzio, founder and CEO of Curzio Research, is one of America’s most respected stock experts. His research is regularly featured on media outlets like CNBC’s Kudlow Report, The Call, CNN Radio, ABC News, and Fox Business News. His Wall Street Unplugged podcast—ranked the No. 1 “most listened-to” financial podcast on iTunes—has been downloaded over 12 million times.
Transcript

Wall Street Unplugged | 1114

The Bitcoin bull market is just getting started

This transcript was automatically generated.

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

Frank Curzio: How’s it going out there? It’s February 14th.

I’m Frank Curzio. This is the Wall Street Unplugged podcast where I break down the headlines and tell you what’s really moving these markets.

On today’s show, Bitcoin surges to a two year high and is now part, again, part of the Trillion Dollar Asset Club.

I’ll explain why we’re still in the very early innings of this monster running crypto.

Very early innings.

Lyft reports earnings and has a big typo in the press release.

Shouldn’t have been that big of a deal, but I’ll explain how Wall Street profit greatly from it.

And CPI comes out showing inflation’s back.

What happened, supposed to disappear.

Has the Fed’s next move gone from seven rate cuts coming in Now first let’s start with the most important topic by far, which is happy Valentine’s Day.

Mothers, wives.

Daughters, great day.

I have two daughters and a wife.

My daughter turned 16 on Monday, so I had a birthday to celebrate.

My mother.

I won’t tell you how what age she turned, which was yesterday.

And then I have Valentine’s Day, my two daughters and wife.

So if possible I was gonna ask for you guys to buy some subscriptions so I could afford all this.

It it’s nice that it’s all in one, you know, as a guy, one just chunk it makes it a lot easier than, oh my God, this is coming.

Holy cow, this is coming.

’cause you know, always not that good with dates.

Uh, but yeah, happy Valentine’s Day, everybody out there.

It’s, it’s, it’s so great.

Uh, I really like this holiday.

It’s really cool.

Hopefully you guys have a great time.

Go to dinner.

Happy roses, everything.

Have a lot of fun.

But it was funny because even with my mom and her birthday, she actually chimed in to our crypto event.

So we had Crypto 2024 last week.

Had a lot of people attend.

It was really, really cool.

And, she asked something ’cause we had a, a 90 minute q and a and she was like, Hey, you’re coming to my birthday.

So I’m getting trolled by my mom during these live events, which is pretty cool.

But, for any of you guys have missed that, please, it’s for free.

Go to Curziocrypto.com.

It’s really cool.

It shows you what’s going on with crypto today.

Uh, something that, that we’ve been well ahead of over the last six months saying the ETFs are gonna get approved.

And then, two months ago we did our first Crypto 2024 event saying, listen, you gotta be in this.

We’re gonna see, Bitcoin run up.

They’re probably, it’s probably gonna sell off a little bit, right? Sell on news after the ETFs, but definitely uses a buying opportunity.

Now we’re seeing Bitcoin into the trillion dollar asset class.

It’s ranked as the 10th largest in the world.

Just surpassed Berkshire Hathaway.

Hey, this is real.

This is big.

It’s here.

And the event we had last week, I called the super halving ’cause we know the Halving is coming up in April, which is a big event ’cause Bitcoin usually surges.

And, and this is 12, 18 months after.

But I call this the super haling because for the first time ever, I mean not only you seeing a halving, why does the price of Bitcoin go go up? Is because you’re reducing the supply growth in half, making it harder for the miners to mine for Bitcoin.

When you do that and keep demand steady prices are gonna go up.

That’s what happened every four years.

If there’s happening, the next one is coming in April.

Why is it different this time? Because after two years we always saw Bitcoin sell off because demand kind of waned and you have, you’re not gonna see that anymore.

This is a secular growth trend.

Get used to this Bitcoin 52,000 Bitcoin getting new highs.

CNBC talk get used to it.

But the big story here is not Bitcoin.

’cause Bitcoin goes higher.

It’s just like if Apple goes higher, if Meta goes high, it brings a massive group of companies that support these platforms much, much higher.

AI is bringing everything higher.

A lot of technology, a lot of software companies.

You’re seeing the difference in companies, especially within the chip sector of ones that are doing great from AI and some of ’em that don’t have exposure that aren’t doing that great.

It was LA 70 didn’t report good numbers.

Intel, it’s not all chip makers go up.

But when you see Bitcoin go up and it happened after every single halving, everyone points out, wow, look at Bitcoin’s run.

Look how much it went up on average.

This is the last halving.

Four years ago Bitcoin went up an incredible 600 and something percent over 600%, which is amazing.

What you probably didn’t know is that the crypto market, if you strip out Bitcoin, outperformed Bitcoin by three to one, it went up over 1800%.

So now what you’re seeing is today micro strategy’s up big right now that Bitcoin’s breaking out even further.

You’re seeing Robinhood report numbers.

Did you see those numbers? It’s not going up because they’re just in crypto.

They said that they’re getting the, the deposits are the money coming in, right? The inflows are the largest in 2021.

It’s real.

You’ve seen all the miners up 15, 20% today and that is nothing compared to the names you’re seeing within the crypto market.

’cause these things go up three x five x, 10 x much, much more than anything else.

It’s y I’ve been pushing this and saying you need exposure to this industry.

It’s not just fun and games.

I saw Gary Gensler on TV again, we, we understand he’s part of the system, he’s part of the central banks, he’s part of that right? His job is part of that whole system.

So he’s gonna hate on Bitcoin as much as he can.

That’s his job.

It’s Jamie Dimon’s job to s**t on it.

It’s Elizabeth Warren’s job to s**t on it.

They want control.

Central banks all this.

Well the reason why they want control is ’cause ’cause they all make a fortune off of it.

All these freaking b******t fees we get charged with banks and transfer of money and all this stuff.

And why? Why do we need that when we have something that keeps a ledger that you can’t hack? So our Crypto 2024, our recent event, super halving for free.

Go to Curzio Crypto, watch it.

It was really good.

It was 90 minutes of q and a and anyone who wants to learn about crypto listen to it.

’cause we covered simple questions like where to open an account, how to keep my crypto safe, how come I have to purchase on different places? What is, what is staking? You know, and that’s what we wanna do.

Provide that education for you.

This way you can get into this industry.

As someone who’s covered speculative assets, my whole entire life and my whole career, I’ve never seen a better risk return than in crypto.

And it’s speculative.

I tell everybody, don’t sell your house and go into crypto.

No, but if you’re buying small caps so you’re playing options and you’re doing all this stuff, that’s fine but have exposure to crypto.

’cause crypto the upside is magnified by 10 times even more compared to where you could earn some of these small caps and especially new ones that come out which come out at multi-billion dollar valuations.

And a lot of that growth’s already priced in where you could buy some of these cryptos.

Five new recommendations we just have.

I just made last week in our Crypto Intelligence newsletter.

Five brand new ones I’ve never recommended five at the same time.

Those who are subscribers know that to my products.

Maybe I’ll have one or two.

Last time I recommended five stocks was at the bottom right after COVID.

The COVID crash.

Five five best companies and saw decline tremendously.

I think it was Walmart, target, Costco, home Depot, I forgot the last one.

Only five stores that that were allowed to be open at the time that were just gonna see win for profits ’cause they closed everything else.

Because now’s the time for crypto And those five recommendations and Crypto Intelligence come from AI.

You wanna see the amazing technology, I know you’re hearing about it everywhere.

Try open source DeFi where people could add to these programs and make them absolutely fantastic.

Where they’re not behind walled gardens.

Like you know everything that you’re doing is crypto is the same thing that you’re doing when you post on Facebook.

Facebook owns everything.

The social media companies you put they own everything.

Imagine that you didn’t have to own everything.

That’s pretty cool.

I mean hey, if you’re gonna steal my data or take my data and sell it to third parties, how about I make money for it? There’s crypto companies that are doing that.

There’s community aspect that’s part of the recommendations.

Connectivity.

Blockchains don’t talk to each other.

That’s why you’re seeing all the hacks For people who don’t understand crypto, they’re like, well I’m nervous about that.

You see the hacks because if it’s going from one blockchain to another, there’s bridges and in that bridge to make that work, that’s where the hacks take place.

Now there’s technology where there’s no more bridges, it’s gonna be seamless.

This is where the technology’s coming from.

So as Bitcoin goes higher, you’re seeing, seeing the rest of the market go higher.

This is why we’ve been pushing crypto for the last six months, but this is just the beginning.

We didn’t push it because hey, Bitcoin’s going from 15, 16, 17 grand to 52 grand.

No, that’s not why.

So in that presentation, if you get a chance, watch it.

You could put at two times speed or whatever.

It’s pretty cool.

But the questions were fantastic.

It was great.

And plus we offered a special for our Crypto Intelligence newsletter, which is 80% off, which I almost never do.

And I only do this because this is the area that I believe you can make the most money in.

And if you do that, you’re gonna be a subscriber of mine for the next 20, 30 years.

So much so that anyone that subscribes gets a 10 minute phone call with me personally.

And that’s a big part of our company.

’cause I talk to a hundred new subscribers probably over the past couple months and I know that a lot of other services in our industry are not gonna offer that.

The guys whose name’s on the door’s not gonna get on the phone with you.

And when we do that, it’s door to door to how so many companies built their business.

And that’s what this newsletter industry is about.

It’s about being personal.

Like people wanna turn to you because they don’t believe all the s**t that goes on on Wall Street.

Now the financial newsletter industry has turned into Wall Street and profits and nobody cares about returns or or the customer.

That’s b******t.

The reason why we have a strong brand, if you’re interested to learn about crypto, again, try.

I understand people wanna learn about things that have really complicated in hard.

It’s not that complicated.

We break it down, provide even watching that 2024 against for free just by watching that event, the Super Halving event and go, you’re gonna see why this is just the beginning.

I mean you’re gonna laugh when you see Bitcoin at one 50, it’s gonna go a lot, lot higher.

It always hits a new high after the Hings.

The last high was what? 66,000 I think.

And when that happens, you’re gonna see a lot of the underlying cryptos absolutely surge because these are names that you can get in at $20 million, $50 million, a hundred million dollar valuations.

Not 5, 10, 15, a hundred billion dollar valuations.

Like people were forced to get in when Coinbase went public.

Holy cow, that stock’s been on a tear.

It’s still 40% below its IPO price and it was up 300% last year.

That’s a stock market for you.

That’s Wall Street for you.

Collect their fees, it’s Curziocrypto.com.

Give it a listen.

If you wanna learn, send me a question to frank@curzioresearch.com.

Again, em pound the table on this for a reason guys, you know, my job is what I get paid for is to make you money.

That’s it.

I’m not getting paid by companies or recommend them.

We’re independent.

So if I make you money, you subscribe to more products.

That’s why I push my products at the right time.

Even right now, right now is an unbelievable time to own Bitcoin, to own Ethereum and to own almost anything within crypto because every single event that takes place going forward and you’re like, well what are you talking about? What kind of events? I mean if you’re looking at at Middle East, tensions, geopolitical risks in the Ukraine, Taiwan, China, which is gonna be a big story this year.

The elections gridlock, all that stuff factors into Bitcoin.

Every time you see central banks spend trillions where they say, Hey, we have to cut back on spending and constant spending and constant approvals and constant money going to Ukraine.

Constant, constant, constant.

It’s the case to own Bitcoin.

Every time we see confusion on the data like this CPI is supposed to go lower.

And I remember the economist yesterday went on and said, I’m expecting this to be even better.

Inflation’s coming down and outta nowhere.

Inflation goes higher, strengthens the case for Bitcoin.

And these are what, just a few of the topics that you’re gonna see over the next year, over the next three years, over the next five years.

And now couple that with the ETF approvals, which you’re adding trillions.

I mean you’re looking at $30 trillion now has easy access to Bitcoin that they never had before.

And if you just take 1% of that, of all that money, it’s gonna add up.

And I had charts and figures and stuff like that of the exact amounts.

And this was in in, in the Crypto 2024 live feed.

Again that was 100% live, but it amounts to over $600 billion of inflows at a 1% allocation for people.

Just a 1% allocation.

I think it’s gonna be more than that.

I don’t think it’s gonna be five, but I do think it could be two or three.

And if you broke that up over 10 years, And then what do you have on deck? You have Ethereum ETFs that are probably gonna get improved I would say June, July.

And we were pretty right on the approval schedule and what was gonna happen.

I provided the schedule ’cause we were able to see and track, you know, when they apply and it’s the first time, the second time and when they’re gonna get answers by the SEC and stuff like that.

This is an area you should have allocation to.

Don’t put all your money into it but you should have allocation ’cause it could change your life.

Those are the gains that you could see in the sector.

It’s a lot of fun right now.

It’s really cool.

And the best part of it’s, I love to see my subscribers making money and they’re doing very, very well right now.

So moving on where we have inflation, holy cow is inflation back.

Because you look at the CPI, one of the Fed’s biggest inflationary gauges came out pretty hot and it wasn’t supposed to, the report was really crappy.

It showed, when I looked at it, right? You you see, and it’s a lot of economists that are defending it right now, which I think is funny.

But saying that it’s a one-off and you know, I have some names of economists I’ll share with you in a minute.

But when I looked at this report, you wanna dig through it.

’cause you can always say, okay, what’s going on under the hood? And people say, well, you know, rental incomes are higher and that’s, you know, misleading, it’s gonna come down.

We don’t understand that.

And you know, lemme tell you what I saw, okay? Because this isn’t retail or peril discretionary going higher, right? These are items, consumers can choose not to buy a purchase at a later date.

But when I bring this up, again, if you’re gonna watch this on YouTube, I just have a little bit of a chart up here.

I mean you’re looking at, at, you know, food up a ton, baby formula.

You’re looking at frozen vegetables, you’re looking at you cer meals, snacks, then you’re go into electricity, then you’re going into streaming and cable and tv, right? These are things that people have to pay.

You’re looking at auto insurance was up huge.

You know, you.

But garbage and trash collection, these are the things that went up the most in price, are the things that everybody has to pay.

These go.

These are bills that we are paying directly.

So you could highlight, oh well it’s a rental component and it would’ve been up that much.

Even if you take out that rental component, no matter what you say about this CPI.

And I don’t care if the rental component was that bad and it came down because it accounts for like 30% of the f*****g CPI.

And the only reason why is ’cause the government fixed it that way.

This way you’ll never ever see inflation ever.

I mean they got, you know, again, it cursed a little, little here heads up.

But they really got f****d because they decided to pump thinking oh, it’s not a big deal.

And half of that came when asset prices hit all time highs in at the end of 2020.

And a lot of this money came in 2021.

Just keep spending, spending, spending, spending, spending.

If you go back the past 30 years in the last inflationary and how many times this gauge has been revised, I mean they push shelter in there because rental properties really hardly ever go up.

It’s a reason why inflation has almost never gone.

CP has almost never gone over 3%, three and a half percent.

Very, very rare.

I think even if you look at 4%, which we’re at right now, basically if you’re looking year over year with 3.

9, I mean we’ve got over 4% on the CPI one, like one time since 1991, other than when we just saw inflation the past couple of years.

So they provided an index to show and, and just proof of this is common sense.

I mean, even before COVID, all your f*****g bills are going higher.

Everybody’s bills are going higher now.

They just went incredibly higher.

Anyone say, oh, there’s no inflation, there’s no inflation, there’s no inflation, there’s no inflation, there’s no inflation.

Okay, really? ’cause all the bills I’m paying are a lot more.

And that’s the point of this report is why it’s so scary.

’cause a lot of the reports showed increases in things that people, these are every, every month bills.

That’s a big deal guys.

So what does that mean for the Fed? Well, one believe in Powell because he’s been saying, look, we’re not even close to cutting till we see more evidence.

This takes him, ’em a step back.

We’re gonna see another four CPI reports.

And until next time, or you know, the, the, the Fed meeting and, and I think the percentage going into this for a may cut, remember we were definitely getting a march cut.

Remember when when the Fed pivoted and that was in December and they were like, oh my god, we might get one right away right at the beginning of the year.

But definitely in March that’s like 0%.

Now there was a 70% chance in May we were gonna see our first rate cut.

That’s 40%.

Now after this report.

So what happened after this report was released, the market absolutely crashed 1.

3%.

If you watch CNBC, you would’ve thought there was like, like the place was on fire.

You would’ve thought that whole building was on fire.

What are we gonna do? How do you position, we saw that we’re down 1.

3%.

Keep in mind going into that report, okay, you look at, at what November, we are up and you would think that we crashed 30%.

Yesterday I was watching CNBC, I gotta position yourself.

You gotta do this, you gotta do that.

You gotta in, in meantime, all the economists, right? There’s so many economists come in and say it’s a one off.

It’s a, it’s seasonality.

It’s seasonality.

And you know, these are one time price increases that take place in January.

I mean I’m forced to read all this s**t, right? The economist that lock themselves in a room and have no friends and and don’t understand anything about the real world.

My job is to read this and interpret it to you.

Okay? So these are the guys that were telling you that inflation’s gonna be transitory two and a half years ago.

You know, the same guys that that really, again, they don’t get out in the real world.

A lot of this stuff’s paid for them.

They hang out with rich people and stuff like that.

We’re talking about real world, real people here, okay? What we see, and that’s why you have such an advantage as an individual investor compared to these institutions.

You can get in and outta some things a lot quicker.

You can react a lot quicker.

Having this podcast and going out to a hundred countries is amazing ’cause we get real time data when people are getting it a month later.

I feel like, especially when it comes to what do you see in stores? What are you seeing in malls? What are you guys seeing in different countries? What are you seeing during COVID? I mean just getting emails from everyone in different industries saying hey, these are the trends I’m seeing.

I mean it’s helped me a lot in 2021 when the market was still doing good.

When people were like, Hey, business is still booming.

It’s still booming.

It’s still booming even though we got really expensive ’cause earnings weren’t growing but stock prices were going higher.

But you fast forward today and holy cow we are looking at the 10 year surging.

Was it 4.

3%? It was 2.

82 weeks ago.

That’s a monster Move.

Valuations at all time highs.

Consumer sentiment on housing pre CPI report ’cause rates are a lot higher.

It was the highest it’s been in two years.

And pre CPI report the vix.

Nobody’s scared.

Nobody’s, I mean, so when you see a report like this and you see the market come down, again small caps got nailed and, and NA that got hit pretty hard.

But overall the the S&P 500, they’re pretty good.

That 1.

3%, it’s up a half percent today.

Oh my goodness, what happened? Now we’re gonna go bullish again.

But we’re in a market that that’s priced for perfection here and any little blip is gonna result in a pretty steep decline.

And you’re used to seeing a 700 point decline in the Dow being big.

It’s not because it’s up so much, it amounts to wow one and a half percent or whatever.

It’s nothing that’s really nothing in the scheme of things.

Especially you expect a normal pullback of 5% after the market’s up.

Not only is the market up tremendously, say close to 15%, right near it’s just what percent and a half percent off.

Its all time highs.

But think about where 7% of that move came from.

It came from in the second week of December when Powell came out and hinted and suggested that that was the pivot.

Here come the rate cuts and then we went up tremendously went up 7% from the second week of December.

Again, where were he a second week and you know, talking two months ago.

But now that that thesis has been pushed out even by the Fed themselves where they all rolled back that opinion said no, no, no, no, no, no, that’s not what we meant.

You know, they met behind closed doors and said all you guys, I know you guys like to shout and speak and go to conferences.

Here’s what you’re going to say to the public.

This is what happened in that meeting.

Here’s what you’re going to say.

You’re gonna say that we’re not even close and we’re not pivoting anytime soon until we say the data.

And everybody came out with the same message.

Kinda like when we watching mass media and they all, it’s exactly the same line that they say, right? They all say it at the same time.

It’s like they all get into a meeting and they, okay, this is what we’re gonna say.

That’s what happened the last Fed.

So they walked that back.

Now you get a CPI report.

That’s b***h shouldn’t you.

We give back the 7% that we gained because we’re expecting rate cuts pretty much now.

And that’s what I think.

But no 1.

3% decline like it was the end of the world.

Get out all in.

It’s crazy and we’re back up again today.

Pretty cool.

Even though rates are higher, right? So there’s a lot of risks in the market right now.

So when you look at and, and you know, just a quote where David Royal CFO’s, CIOO of thrive net saying the seasonality thing that I, that I mentioned impact these results.

Annual your price increases could take effect starting January.

Uh, we had Ian Jefferson, someone that, that I do respect is a pretty good economist, but also said this is a blip.

The deflationary trend remains intact.

Is it? I mean it’s a blip that nobody saw coming.

And I could tell you from from the Fed sentiment where they’re like, Hey, maybe if we get one more good CPI and another we’re good.

This, this sets ’em back.

This sets ’em back in terms of rate cuts and we’re gonna have to see really horrible data going forward.

And when I’m looking at the a, just some of the calls, did you see Coca-Cola? I mean Co Cola came out and said, hey, we grew 12% organically, all because we we’re raising prices.

McDonald’s raised prices but people starting to push back and raising those prices.

But you’re still seeing these rate hikes and you all see them.

Every one of you, you’re seeing every one of your bills still is your, are your bills really outside of maybe gasoline, which is going back again up again.

We’re in Florida, it’s going over $3 a gallon.

If you’re in California, that means it’s probably like $9 a gallon, whatever it is over there.

But probably more like five six.

It’s fell below three now it’s going higher.

Energy prices are going higher now.

I mean that was a big help.

But other than that, are you seeing most of your bills on more than what you paid last month still? Where’s the disinflation? Where’s this coming down? I don’t see it.

And when I look at a market that’s priced for perfection and you might say, well why is it priced for perfection? ’cause it went up 14 outta 15 weeks.

Holy s**t.

The market has gone up 14 outta 15 weeks.

I thought it was gonna decline this week.

It might not even decline this week.

I thought we’d have a s****y week to to to finish it after CPI report.

Let’s see.

And we’re looking at Atlanta Fed.

Who is the best at forecasting GDP before it comes out? They’ve expected 1.

9% GDP growth about two months ago.

Now they’re expecting 3.

4%.

Bank of America survey says investors predicting no recession first time in about a year, it was last April.

I mean is anybody scared at all about these valuations or where they’re at? I mean just a little, especially since inflation’s not gone.

The whole bullish thesis is based on rate cuts for throughout 2023 and definitely through 2024.

Now we might not get them to June midway through.

So shouldn’t we give back some of the massive gains but we haven’t yet.

And the higher we go, the more dangerous it’s gonna be.

I’m not telling you to run outta the market, but I am telling you diversify by companies that are pricing power, that are growing earnings and that are buying back their stocks.

You’ll find a lot of names in that group.

Speculate if you’re gonna speculate, we’re doing a really good job picking away those names in the Russell of 2000.

Don’t buy the whole Russell of 2000.

’cause 40% of the Russell of 2040% of those companies are not profitable.

Those are the ones that are getting nailed the most with high interest rates staying higher for longer.

Very difficult to refinance their debt.

But there’s lots of names, especially in biotech we’ve been picking away.

We got a 50% winner in in a month and a half.

This is when you need, you need someone that knows what they’re doing that’s looking at this stuff all the time.

’cause a lot of disconnects and it’s very easy to make a big mistake.

And you’ve seen it just in earnings.

I mean earnings.

You’re seeing companies go up.

I mean arm holdings went up, what, 60% in a day, whatever went up in a day and it followed with another 20%.

Yesterday was down couple of others you see 15, 20% moves and others you see 20 Pinterest down whatever, 20, 30%.

Uh, upstart down you, you know, some of these stocks get nailed.

So you wanna be in the right names.

It’s very important to do your homework on these names going in.

You can’t just blindly, I’m buying stocks, market’s going high, everything’s going higher.

I’m a genius.

No, absolutely not.

Half of the S&P 500 as of today, even more than half.

’cause this was before the CPI report, so I would say probably 300 companies outta the S&P 500 are lower on the year.

Yet this index has up 5% because the big cap names are up So be careful.

It’s not the whole market I could buy anything.

It doesn’t matter.

No, it matters.

It definitely matters what you’re buying here and what you’re getting into.

So be very, very, very careful.

Now, last story here, I wanna talk about Lyft.

So Lyft reported earnings yesterday and the earnings were great.

The CEOs on tv and I kinda like the CEO.

A little weird, you know, when I asked about his numbers, he made no mistake and said, oh wait, wait.

I mean it was funny.

But he actually said, he goes, I’m driving today and he’s in San Francisco and he’s gonna be driving a car picking people up, which I thought was really cool.

I didn’t know what he meant when he first said that.

He is like, oh you know, I’ll pick you up or whatever, you know, I can’t.

He goes, I’m driving so I can’t pick you up.

I thought he meant he is driving another car, he’s actually going to be in a Lyft car and you might get him in San Francisco driving year round.

I thought that was really cool.

But they reported great numbers, really, really great numbers.

Best in the company’s history and the stock soar.

But then post market, this happened yesterday after the close.

And this is remarkable.

So the stock surged 60% and it was because that there was a typo on the press release and a typo was a really, really, really, really big deal.

Okay? It said adjusted margin expansion grew There was an extra zero, it’s 50 basis points.

It’s a really, really, really big mistake.

I mean it’s monster where, where, you know, so the stock pushes up rightly so.

But for me it just, I’m fascinated by high frequency trading or the ability for just a few special elite firms to use super fast computers with super fast algos built by elite mathematicians who get paid millions to front run the market without any regulatory oversight.

I’m fascinated by that.

That is awesome.

If you’re in that business, that’s fantastic.

And this technology was put to great use yesterday after the close.

So in less than three minutes the stock went up and then the stock really sort, it really soared.

It went through the roof, right? It, it went up tremendously.

And then as it went up and that news came out, it hit $19 a share.

Now when it hit 19, they revised that news before, like you could read, this is three minutes.

Think about how long it would take you to read a press release.

Go into an E-Trade account, whatever you’re trading, go in place the order and hit that button after you read the whole post.

Think how long it would take you to do that.

This is less than three minutes.

The stock went from 19 to 1270.

It felt 33% in less than three minutes, To put that in perspective, that was over two times more.

The amount of shares traded the entire day when the market was open.

More than four times the average daily volume for Lyft in the post-market.

To my question to Gensler, who’s on CNBC always says, you know, we are here to protect the individual investor, just like you did with SPACs and you regulated ’em.

Now when $22 billion is taken out by insiders when almost every retail investor got kicked in the ass right now, you’re gonna regulate it.

Nobody goes to jail.

It’s perfectly fine, right? The whole pump and dump SPAC scene, everything’s fine.

But your mission to protect individual investors, I have a question for you.

If high frequency trading firms can trade millions of shares in milliseconds when the market is closed, how does this provide a level playing field for retail investors? Mom and pop investors who don’t have the same access? ’cause that doesn’t sound like it’s a level playing field to me, but you wanna talk about how these firms work and how much money they make right there.

They made a fortune on the way up in minutes and a fortune on the way down in minutes, not even in minutes in milliseconds.

Most of these guys, I mean, it’s incredible.

It’s incredible how they’re able to, like how their systems are able, this is before ai, this is before like the last two years where holy cow AI’s so fast and speed five.

I remember working for Cramer, listen to me.

He used to put out alerts and it always came out after the close and it was different lists, maybe like nine or 10 different lists for like if someone had like real money traders.

So, so you know, just different lists that had access to it.

So you’d send it out the same time to these lists, but there might be a second differential.

I’d hit enter and some lists might get a second earlier, whatever before I got it.

Which the list that we’re on, you know, we have access.

You know, when you working it firm, you have access to all the products.

That stock will go up 3, 4, 6, 7% right? Before I even got it, like it was a sec, that was in 2007.

Imagine what they’re capable doing now.

How they’re moving their firms closer to the stock exchange to get that extra 0.

00 second difference to get into trades.

That’s where they’re at.

I mean, you wanna talk about the Ultimate Boys club where nobody knows what’s going on and nobody’s allowed to say anything.

Whatever.

There’s no regulation, nothing.

Hold, that’s, that’s it.

That’s it.

We’re talking about Citadel and all that s**t with dumb.

What happened to them? Nothing.

Nothing.

They even lied under oath.

Nothing.

What about the Ultimate Boys Club? That’s protected.

I mean that’s the ultimate Boys club.

I mean a lot of these guys wanna be famous.

Like you see Mark Cuban going out on tv, they wanna be on TV all the time and hang out.

It’s kinda like John Gotti.

They’re like, what the hell are you doing? That’s not what we do here.

You don’t wanna be on TV when you’re doing s**t like that.

And that’s why you rarely see these guys ever on TV or E doing anything.

And then when they have to publish like their, their 13, what is it? which you know, every firm’s required to do.

If you have I think over a hundred million assets in a management, they have like 80 positions that they’re, they’re not even in 80 of those positions anymore.

They’re just in and outta.

They don’t even look at markets, they don’t look at fundamentals, they don’t look at anything quick.

Just let’s make these really quick trades, blah, blah, blah, blah, blah.

Based on all the orders that people place in the market and what we see in front run the market and it’s perfectly legal because everyone’s tied to those funds is making an absolute fortune.

The teachers, the pensions, all that stuff, the politicians we regulated, if it’s making us money, it’s really crazy when you think about it.

Anyway, high frequency trade put to work.

And I thought that was amazing.

I actually like sat here and did the research, like 47 million shares traded post-market when 21 million shares or whatever traded the whole entire day.

And who has access to that market other than the big guys.

They do.

And they made an absolute fortune like they always do quarter after quarter.

So guys, last very last thing here.

I hope that you won my guaranteed bet because I took the fo honors, win the Super Bowl.

And like I say, you’re supposed to do the opposite of my Super Bowl pick every single year.

It’s the fourth year in a row.

I lost, I’m three in 10 in the last 13.

The last time I won was the Eagles, which is cool beating the Patriots.

Uh, I will say though, which I say when I do this and I have this outline, everything that, that my prop bets usually do well and they did, I nailed it for, for good.

I hit pretty good with, with Marcus Val scanning.

Uh, that’s MVS, they call him wide receiver for the Chiefs.

Uh, so I bet that he would get over two receptions and over 19 yards receiving.

I should have been on for a touchdown as well.

But I won those two bets but lost a four nine er bet.

So it’s an ultimate guarantee.

Guy.

I gave it to you on a silver platter, told you four nine ERs probably gonna win by seven.

They’re a better team.

I thought they should have won that game.

It was a great game at Mahomes.

Just was too great.

It just too great.

Stop beating up the coach.

Stop beating up Heimer, stop beating up.

I mean, he’s one player away on a for down from, if Bosa chooses not to go after the run and go after Mahomes, he, he’s basically gonna sack him the game’s over and everyone’s talking about Andy Reed and what he did wrong.

So I mean, that’s a coin flip of a game.

So I think, you know, could he change the outcome by maybe kicking the ball off instead of receiving it overtime? And I get it, I understand that, but I know this defense was extremely, extremely tired and that’s just not excused.

They just won the field.

I think Mahomes with that momentum would’ve run down the field and scored.

I mean they would’ve scored in regular time if they had the time.

They just ran outta time.

So they’d kick the field goal.

But great, great Super Bowl.

And again, hopefully you guys won.

And that’s all I wanna see for all of you is you make money even as my expense of looking like an idiot.

So guys, this is for me.

Questions, comments, email to frank@Curzioresearch.com.

Anyone looking to see the free replay, which is a live event, my Crypto 2024 Super Halving, just go to Curziocrypto.com and give it a listen.

Lots of education there.

Really cool.

And I know you guys are gonna like it, especially since you’re gonna hear about crypto and Bitcoin hitting new highs probably for a very, very long time.

So we’ll dig more into this, more into Ideas and tomorrow’s Wall Street Unplugged Premium podcast with buddy Daniel Creech.

I’ll see you guys then.

Take care.

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