Wall Street Unplugged
Episode: 1126March 27, 2024

Will we see more interest rate hikes this year?

I start today’s show by eating some humble pie over my NCAA Final Four picks. I share my thoughts on the tournament so far… and which games I’m most looking forward to in the coming weeks. 

We saw an incredible turnout for our special event last night, “The AI Story No One’s Telling.” Our live Q&A lasted almost two hours—covering everything from the current state of AI… to where we’re headed with artificial general intelligence (AGI). Thank you to everyone who attended. But if you missed it, don’t worry—you can still watch the replay. Trust me, it’s worth your time.

Tomorrow, FTX founder Sam Bankman-Fried will be sentenced for illegally leveraging customers’ assets, which caused the collapse of the company. He faces up to 100 years in prison. I share the irony behind this debacle… why I think SBF will get hit with a major sentence… and why, despite that, he’ll likely walk free within the next few years.

The tragic collapse of the Francis Scott Key Bridge in Baltimore shines a light on the critical role of our country’s infrastructure. I break down the bridge’s importance to U.S. trade… and the massive ripple effect its collapse will send throughout the economy.

The latest Consumer Price Index (CPI) and Producer Price Index (PPI) numbers show inflation at its highest level since October. I highlight why the Fed might have no choice but to hike rates again this year.

Inside this episode:
  • A slice of humble pie with my NCAA bracket [1:21]
  • Don’t miss “The AI Story No One’s Telling” [7:51]
  • How long will SBF be in prison? [23:24]
  • The tragedy in Baltimore will wreak havoc on the economy [32:05]
  • Will we see more rate hikes this year? [43:20]
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 | 1126

Will we see more interest rate hikes this year?

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 March 27th. 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.

In today’s show, I’ll talk about Sam Bankman-Fried and how many years you should get, ’cause you’re getting sentenced tomorrow.

Gonna talk about Baltimore’s Francis Scott Keybridge collapse, which was a terrible tragedy.

And man, I am very, very tired since our AI event last night, which was titled The AI Story Nobody’s Telling. Lasted close to two and a half hours.

Two of those hours was from the live q and a.

Lots and lots of questions.

Also getting lots and lots of new signups to our new cur AI product, which I knew would happen if they watch his presentations.

It’s something different than anything else that you’re hearing out there in terms of the stocks are gonna benefit if you couldn’t make it, which I know it’s tough for a lot of people.

I’d say exactly how to watch the replay.

But first, let’s start with something I don’t wanna start with is my NCA Final four picks, which I deserve to eat crow frank@curzioresearch.com, keep it coming in.

I deserve it.

It’s all me.

I’m the one who said no number one seeds, I just had one number two seed.

And yet this is the first time I think it five years or the fifth time in, in n NCAA a history.

I’m pretty sure that’s, that’s right.

Where all in number one seeds and number two seeds have made it to Sweet 16.

I had Kentucky win it all, which lost in one of the biggest upsets ever to Oakland, which is insane.

When I watched that game, I did say in, when I had that special, and I posted it as a separate podcast by NAA picks 15 minutes going through all the brackets, watch more college basketball than I ever have.

But one thing I did say is make sure you have someone that doesn’t know about college basketball that fell to brackets ’cause chance are they’re doing very, very well.

And when you saw Kentucky play, you look at, you know, Charles Barkley is even an Auburn alum and had Kentucky go into the finals during the same division.

If you watch Kentucky Play, they were amazing.

If you saw that game, it was, it was disgrace.

I mean, even from a coaching level, they, they didn’t know what they were doing late in the game.

There’s two or three guys who were fantastic all year who were actually scared to even dribble the ball.

Uh, and you can’t take away from the other team who’s at Goldie in Oakland who hit ten three pointers, which, if I was a coach, that would never, ever happen.

This isn’t a Steph Curry guy.

This isn’t a guy that’s gonna blow by you.

He’s not a guy that’s gonna blow by and pass it.

He just shoots.

That’s it.

It, and the fact that they couldn’t come out and come off picks kept going under the picks was just amazing to me.

A Ari looked lost there.

Uh, but that’s on me.

And I also had them beating Auburn in the finals who also lost, although I would argue say arguably the best player got kicked out very, very quickly with, with stupid elbow.

Uh, statistically you may not say, well, he’s the best player on the team and athletically, but this is like the Draymond Green to that team.

And if you take Davon Green off of the Warriors, you see how much that team declines because of all the intangibles he does and all the picks and all the passes and all the assists is a guy that, that scored one 10 points had I think three or four led the led the team in assist had lots of rebounds and you took ’em outta the equation.

Orwin still should have won that game.

And they didn’t, which is crazy.

But it’s all chalk now.

Everything’s cool.

Some great, great games coming up.

And I have to sell you.

When, when I was watching Kentucky, I was flipping out.

I was like, you gotta be kidding me.

It’s nuts.

And, and what it came to three minutes left.

I was kind of hoping that they would lose.

And hopefully it doesn’t mean like people lost a lot of money in their brackets or anything if they listened to me.

But that’s how much I love college basketball.

I mean, the story behind that and what happens to Oakland, what happens to the kid Gu, which his, his teammates are making fun of him ’cause he’s 25 years old because the new, you know, new rules in college basketball, you could play like five, six years right in, in college now.

And he’s 25 playing against 18 years old, which is fine.

They’re making fun of him saying, all the guys at Kentucky just beat are gonna be in the playing in the pros and you’re gonna be an insurance salesman.

And they were making fun of him saying, like a new neighbors stay there.

His team was making, it’s just you, you can’t make up those stories.

You just, you just can’t.

And, and where do you see this in any other sport where a team like Oakland has a shot? Where do you see that? I mean, it’s incredible.

And I’m like, man, and, and the storyline that was gonna be is just, it’s just great.

And they played great.

They had, they should have won.

They should have won the second round.

I had the ball last.

And that’s a good coach.

And he didn’t design a good play.

How do you not get a shot up with 11 seconds left? Having the ball after coming back and tying the game.

You gotta be better than that as a coach.

A lot of terrible coaching I’ve seen so far, but great games coming up.

I love, love, love college basketball so much, especially this time at the tournament.

I took my daughter to go see Kansas and they won a couple years ago in, in New Orleans.

It was just unbelievable experience for me.

Uh, but you have Houston and Duke, which is gonna be an amazing game.

Duke’s been playing.

Fantastic Yukon, San Diego State.

Don’t sleep on San Diego State.

I know Yukon looks untouchable.

San Diego State is one of the best of defensive teams.

Country, Tennessee Creighton’s gonna be a great game.

Creighton’s a great, great team.

I probably don’t know that I’m familiar with the Big East.

And, and the best game by far is gonna be Illinois and Iowa State.

These are both teams that are very, very capable of winning it all.

And whoever wins that game is gonna get Connecticut next round.

That’s a championship game you are going to see in the Elite eight.

Usually don’t see that often.

So it should be a lot of fun.

My fault, I was getting ripped apart.

I was answering emails and saying, you’re right.

And people make a fun, you should make fun of me.

I own I own my calls and maybe it’s, it’s the football has transferred into basketball, college basketball.

I used to be better back in college basketball.

You guys know I’m terrible at picking the Super Bowl.

But, um, my apologies for those picks.

And again, it, it was probably better if you didn’t watch it because it’s hard to pick three of those number one seats who all had terrible games going in and lost to terrible teams.

I mean, Purdue lost and Purdue looks good, by the way, right? Purdue looks good.

That second half was great last week, in their win.

But Purdue lost to Wisconsin, which is the horrible, horrible, horrible team.

Like I told you, Michigan State shouldn’t have been there.

They won that first game.

I wish it was Mississippi State, but then you got annihilated by, by North Carolina.

Their record, you know, they shouldn’t have been there.

And I’m happy that they won and seen is Israel and Atonement.

It’s great.

But you could see why that team looked.

Oh my God, they’re gonna beat North Carolina and they get, you know, annihilated.

That’s the way they played all year.

They play a great game and they play two or three bad games, Virginia making it was an absolute disgrace, disgrace watching that team play.

I, I, I’d rather, man, I don’t even know the, it, it, it was, it was terrible.

But, um, you know, going to the tournament’s gonna be fantastic, next week.

And, and, and going in is gonna be amazing.

And, and this is just the greatest sport.

It’s the greatest whatever it really is.

So exciting times really good.

My apologies for those bad picks again.

I got a lot of s**t and I should be getting s**t.

You guys should be emailing me.

I always own up, you know, when I’m wrong on things.

So, I apologize, but enjoy the tournament.

It’s fantastic.

And hopefully if you win chalk, it’s great because like I said, you know, Purdue lost to, to Wisconsin, it was terrible.

Yeah, North Carolina lose and North Carolina State, which by the way, that’s a fascinating team to me.

I mean, they played five games in five days.

They barely got any rest.

They come in and they, and they win another two.

I mean, the momentum that team is riding right now.

I do not wanna play North Carolina State.

I do not wanna play that team.

So, North Carolina State is actually going to play Marquette and Marquette.

That second half of the Marquette game was great.

They were down.

And Marquette’s a really, really good team, the Big East.

But it should be a lot of fun and, hopefully enjoy and my fault on those picks.

Now, last night we had a special event titled the AI Story.

Nobody’s Telling, and it was a good title because nobody is telling it.

And that’s why people stayed on Man, two and a half hours.

We had hundreds of people on just answering questions and the q and a, we did a live q and a.

And I’m, again, I’m having a beer and hanging out.

You see me and, and Daniel’s feeding me the questions.

And you had the opportunity to, to go in and ask questions.

And man, the questions are really great.

And I think we surprised a lot of people.

We have lots of signups to our new Curzio AI newsletter.

We covered a lot of topics in this.

And you could watch the replay, go to CurzioAI.com, you know, put your email in there, we’ll send it to you and you, you could watch it again.

And the q and a lasted a long time.

You don’t have to watch the whole q and a.

It was good.

It was good though.

I mean, the questions were really good and detailed, but we covered a lot of things that you’re not gonna see being covered any place else where people are looking for AI specific companies, the companies that are gonna benefit these smaller names for the first time ever, small companies can be on par with large companies because of AI.

And I explained exactly why that was never the case.

You couldn’t compete with them.

And why is that a big deal? Because it’s gonna give you an opportunity to buy the next generations of NVIDIA’s, Microsoft’s and Amazon’s, which you can’t do by buying Reddit at its IPO price, which how to f the Reddit not generate or not generate a profit in 20 years during the biggest e-commerce boom in the world.

I mean, through every single trend, social media, every, how do you not generate a profit? Just tells you how terrible that company is.

It can go higher.

You could see again, we we’re at, at, you know, all time highs in the market, hardly any IPOs.

And I get the excitement.

I think anything coming outta IPO right now is gonna go higher.

That’s fine.

But just when I look in the hood in that company, how in the hell is that company? You just pay your CEO right before you go public.

$190 million pay package.

Just amazing.

But a lot of these companies at IPO right now, they, IPO at multi-billion dollar valuations, like the Reddits, like the Airbnbs, like the Coinbase.

I mean Coinbase is, it is up, right? It’s up tremendously.

It’s still trading probably 30%, 25, 30% below it’s highs.

I mean, after the IPO it surged and then it crashed.

Crashed what? 40, $45.

I dunno where it’s today, the 200 level or whatever, two a little bit higher than that.

It was well over 300.

But you don’t get a chance to buy these small caps like you used to and then hold them.

And if things work out and they become the next large cap, make a fortune.

’cause they’re already coming out as large caps at 20, 30, 50 times.

Sales AI changes that landscape.

But you have to go in, I show you in this presentation exactly how to find these.

You are not, I’m gonna do all the work.

All you gotta do is buy the stock.

But you’re gonna see, I went through the work that I do and I think that really amazed people.

’cause they were like, holy s**t, because I showed ’em numbers.

It wasn’t a numbers presentation, believe me, I’m not gonna bore you and tell you, well look at all these numbers and EBITDA and stuff.

I just highlighted a couple examples about Meta, about Klarna.

Uh, what a, what companies that have been using AI for the past two years compared to companies saying they’re going to use AI, which is only 6% of businesses plan on using AI over the next year.

Crazy.

Everybody says they’re in AI even since they’re using it.

But the, the companies that I’m highlighting have been using it and you’re seeing the results in their financials that are blowing away expectations.

And they’re gonna be able to take market share from the major players.

You don’t need teams of, of 50 people in marketing and, and, and, and, you know, social media presence and all this stuff.

All this stuff could be done through AI.

Highlight how many jobs is it gonna take? And people say, well it’s not gonna take a lot of jobs.

You’re crazy.

Goldman Sachs just came out and said, it’s gonna take 300 million jobs, 300 million jobs.

To the point where it was like, how many freaking full-time jobs do we have? If you look at the US I think it’s about 120 globally.

They say half the population, 70% of the population, I made it.

Half the population of 3 billion, And you might be thinking that’s crazy.

After you watch this presentation, you’re gonna know why? Because one chart, if you don’t know what a GI is, artificial general intelligence, learn that term.

Okay? That’s when machines, that’s the level that they surpass human intelligence.

And the chart I brought up is a chart that if you’re watching this on YouTube, and this is from arc investment.

Now I just wanna put this in perspective, okay? ’cause people think this is in a bubble.

I highlight why it’s not in a bubble.

Why some stocks are in a bubble, definitely, but why we’re so early and how this trend is ancy.

And after you watch the presentation, you’re gonna know exactly why.

Because I go over the crazy forecasts, the 17 trillion GDP it’s going to add and all this craziness.

It’s said that I’ve never seen industry because I’ve looked at so many crazy forecasts.

And most of ’em are b******t, especially when it comes to smaller companies and things that I see a lot of ’em are b******t.

You know, they never meet up their expectations.

We’re gonna generate 10 million a first year and 30 million and $80 million a third year.

And I’m like, you know, they’re not even generating anything right now.

And it’s funny, but AI is one of the one industries where I’ve seen forecasts that have, have immediately been blown away immediately.

And one of them is this chart that I’m showing you right now.

And this is a GI.

So in 2019, this is when ChatGPT was released.

They said that we are 80 years in 2019, that was reduced to 50 years.

Now, now we’re into four, right? But in 20, 21, 34 years, 2022, that’s when Google started getting into it.

Now we are eight years away.

Okay? This is supposed to be 80 years, five years ago already.

We’re eight years away based on that curve.

So if that era continues, we’re looking at a GI or machines passing humans intelligence within two years.

If you think that’s crazy, listen to what Elon Musk just said.

’cause he thinks it’s gonna happen next year.

When that happens, holy s**t, that’s the moment.

That’s the moment when humans, you, you’re gonna have these machines more intelligent than humans, having three of you performing numerous tasks, tons of different things, things that could be spit out immediately in our business in terms of content.

Content creation is huge, right? So with content creation, it it, the content that we could create, think of this podcast, okay? I’m talking about AI, I’m gonna talk about Sandbank free.

I’m talking about, you know, the Baltimore, right? And, and, and this is in a podcast.

And you can go through the transcripts.

Now we have things that, that could print three, four summaries and articles that we could put on our site on each one of these topics, which as you know, and people use this podcast are extremely thorough.

Then we throw our podcasts into different systems and use these plugins.

Again, I’m showing you, I’m testing these things on, on, you know, two, two different things.

I tested to soar.

I dunno if you saw SOAR recently, holy cow.

I mean SOAR is incredible.

That’s opening Eyes, soar text, text, the video.

They just had the first short video that they made.

Good luck in Hollywood.

Good luck.

I know you guys signed an agreement and you think you’re protected.

Good, good luck.

There’s a reason why open AI and the people behind saw are meeting with all Hollywood studios now, because you’re not gonna need all this stuff.

So what does AI do? It’s going to reduce your cost dramatically while increasing your sales and profits, which is the holy grail of every business in the world.

How do I make the most money by spending the least amount of money, right? Well, you’re gonna make the most money.

How do I increase sales? So if you, if you could increase your productivity and lower your costs, you know what that does with businesses? I’ve seen it because when companies cut costs, it takes like two years and then they’ll get everything, you know, fixated.

They fire fast and then, you know, they’ll hire slow.

I’ve, I’ve seen this business models all the time and providing examples of what you saw with, with, with Meta is insane.

What we saw with Meta in, in 2022 to 2023, far 13% of their workforce lowing CapEx by $4 billion, which is the money you spend to grow your business and able to increase sales dramatically.

Profits weight from $8 to $14.

Are you kidding me? And why do you think for the first time in history, at least since I’ve been doing this 30 years, have you, have you ever seen companies with the market ATS all time high laying off as many employees forget about their unemploy rate.

A lot that has to do with services and, and restaurants and, and little stores and stuff.

Big Tech is laying off like crazy, yet their profits are s surgeon.

That’s AI guys.

The company’s using it and been using it for two years.

You don’t know about ’cause they don’t have an AI division, they’re just using this new technology and different softwares.

It’s gonna provide inference, which is a term you should understand very, very well, which is how I could have all this data and what’s gonna tell me what to do and predict.

And that’s what Nvidia’s doing.

The speed at which this is happening is incredible.

I mean, everyone that spending, what is it, And these, this is the H 100 chip, which costs 30,000.

Now Nvidia, everyone’s trying to catch up to the H 100.

Nvidia is starting to ship the H 200.

And their presentation was on that Blackwell trip trip, which was what, a week or two ago with Jensen, CEO.

And we talk about in 2021 a chip where right now in 2023 is 18 times faster.

And we’re gonna see double that with the new Blackball chips 2025.

That’s why everyone’s still light years behind Nvidia.

But this isn’t Nvidia, this presentation wasn’t by Meta.

It’s talking about the companies that are able to use AI, where they can compete with the big boys and take market share for the first time.

For the first time, they’re gonna have the resources to do it.

And you don’t have to know code, you don’t have to.

There’s so many add-ons and different things.

Again, with our podcasts and the content, I can throw this podcast into a system that we’re using and it provides 10 shorts that we’re now posting. If you notice that Frank Curzio, go to our Twitter file, my Twitter handle, and you’re gonna see so many more posts where some people, I don’t have a lot of time, you guys know how hard I work.

I do all these newsletters.

You see me on, you know, on these podcasts.

Now, a lot of this stuff, we’re taking one minute clips, things that you would see with Joe Rogan and, and all these, you know, podcasts, l Friedman, it, it, it’s, you know, now we can get these shorts and immediately they’re gonna put hashtags on there.

They’re gonna see what’s trending all automatically.

That could do in seconds.

Stuff that we couldn’t do before.

Now we’re getting our content, which we’ve always had great content.

I felt that you could see us at Dale and I doing a lot of the work into behind the scenes.

I mean, you know, really covering this stuff in depth and give you great ideas.

It’s just a matter of how do we get this out to an audience when the only thing they see is this stock’s gonna go up 50000% tomorrow.

I have an AI system that’s predict stocks and, and tomorrow this is, you know, a lot of b******t out there.

This guy’s a legendary expert and you look on, you try to find anything on Google, he doesn’t exist.

You know, that’s what you’re competing against.

But now we, we don’t have to say anything now we show you.

And that’s the difference with AI.

I mean, you look at this presentation, it’s really, really cool.

You can go to CurzioAI.com and great, great attendance.

I really appreciate everyone that listened.

Again, we two, two and a half thousand total two hours was the q and a.

We also launched our Curzio AI newsletter, special discount and things like that.

It’s really cool.

So a lot of people sign up to that, which I wasn’t surprised given after they saw the presentation and the names that, you know, we talked about.

And seeing an understanding of where this is going and why I’m gonna invest 30% of my capital that goes into stocks over the next year is going to be in AI long term.

It’s gonna be in AI, it’s gonna be in companies that no one’s really talking about.

You’re not gonna find ’em on any, any screens or radars or anything on CNBC.

And that’s why I wanted to have this special web event, which again, is live.

And I love doing live.

It’s really fun.

A lot of fun.

It’s cool again, just daylight drinking beers and stuff like that.

But, you know, AI members, it included two small picks, small cap picks that I just, you know, mentioned a little bit there.

Obviously I didn’t give them away AI names to avoid a lot of these you probably have in your portfolio.

I talked about the ones that are in a bubble as well.

And there are some that are in a bubble, but the industry’s not, is not in a bubble.

The the valuations are not in a bubble.

Bubbles are based on where, you know, these high expectations of something’s gonna happen.

Look at the amount of money, which I showed in this presentation of how much NVIDIA’s generating right now.

Because I said, here’s the forecast, here’s where we are now and here’s where we’re going.

That’s how I formatted it.

And when you see was here where we are now in terms of the amount of money that companies are spending and making and AI, this isn’t a bubble.

And we had six and a half billion cumulative losses of 199 internet stocks when Morgan Stanley analyzed those Six and a half billion of combined losses between those companies.

You’re not seeing that now, okay? Video is actually cheaper now than it was anytime over the past three years because their earnings are growing faster than the stock price.

So if you’re hear, oh, it’s going parabolic, it, it’s okay if you go parabolic, what scary is that we’re looking at traders that just focus on the price.

They don’t look at the fundamentals when you’re seeing the earnings in super micro in this company as well.

And a good example of, wait, you know what? AI companies are coming.

Look at Micron outta nowhere.

Holy s**t.

Look at Dell outta nowhere.

They weren’t an AI plate, now they’re an AI plate ’cause they’re getting it, right? ’cause they’ve been doing this.

And look, 20, Look where Dell is.

Hewlett Packard came back pretty, pretty well too.

So these companies, you’re gonna hear more and more companies, they’re not gonna say, well, AI, AI, AI, but they’re gonna be using this technology throughout all their divisions, which are gonna increase productivity tremendously.

And the two names that we have in the portfolio are seeing that because they’ve been using it while everyone and all their competitors are saying, we’re getting into AI, they’re raising money to buy AI companies.

These guys, one of them healthcare company has 160 people just in their AI division, just in their AI division, starting to sign big contracts with, with, with, with some of the large pharmaceutical companies for, for drug discovery because they’re providing a cheaper way of doing this and a faster way of doing this, which is worth billions and billions and billions of dollars of healthcare companies, right? In 13 and a half years.

It, it, it it takes to get a drug through the whole entire process.

Imagine if you could shrink that to eight years.

What does that do to the bottom line for big healthcare companies? What happens if you shorten, not to shorten, but, but those costs of 2 billion to bring a drug to market.

Go to three, 400 million.

How many more drugs with all these millions of compounds, tens of millions of compounds these guys have in their libraries? Now you’re getting more shots on goal, right? Which is a great thing.

More drug discovery, which we needed so many different areas.

This is the exciting thing about AI.

It’s a lot of fun.

You get that special report, the AI picks a special report, Curzio AI, um, and also my interview one-on-one with Brad Erickson, who is the director of AI at the Mayo Clinic.

Unbelievable when you listen to this guy.

And that’s gonna be available to subscribers as well.

But thank you so much for attending.

Uh, can you want more information on newsletter? If you want to, to watch that presentation free, you have to watch two and a half hours of it be, but you could, you know, it’s a, it’s around a 25 minute presentation, which I, you need to watch.

All this is for free.

And then the q and a, you’re gonna hear lots and lots of great questions.

They were great questions, no b******t questions.

Really, really cool stuff.

And thank you for everyone attending.

But I am tired this morning.

Let’s move on to Sam Bankman-Fried.

So getting sentenced tomorrow, there is a founder, FTX, who is responsible for leveraging customers assets without their knowledge and losing a lot of the money.

This forced FTX into bankruptcy.

Now the max sentence is I think a hundred, 110 years.

He could get as little as five.

Most believe he’s gonna get 20 or 30.

If that’s the case, I think he’s gonna be out in seven or maybe even five.

They say, why this guy’s a scumbag.

This guy’s crazy.

It’s because with FTX customers and creditors are expected to be made whole or get paid in full, which I think is a joke.

Not that they’re getting paid in full.

It’s wonderful.

They’re getting paid in full, but the amount of money that this company is sitting on is insane.

Now that crypto is taken off.

But you look at this case, which I did research on, and it just leads you to believe that the government was lying when it said FTX had 8 billion in losses, when in fact, okay, and other liquid assets needed to cover the redemptions.

They didn’t go into their ill illiquid assets.

You could, a good example is Donald Trump putting up the, the, the bond.

I mean, it would be easy for him and it got lowered for the 400 million, which is insane.

I think everybody knows that.

But the $400 million bond, it’s almost impossible to get.

And he has a, you know, easily covering that in real estate assets.

But they’re asking to sell those real estate assets, which is a totally different story.

But when you look at FTX, I mean easily had enough total assets to cover these redemptions.

Government didn’t wanna know, and I know it’s something that’s not reported to media, nobody knew that there’s a total loss.

There’s a company invested in anthropic, that’s Claude three, that’s a faster program and a better program right now that open AI’s ChatGPT four.

And that’s a fact.

It’s a better program.

It’s faster.

It’s, it’s more accurate.

It gets every comparison in terms of search, in terms of math, in terms of how quick it, it, it’s better.

Doesn’t have as many subscribers probably only be valued at They have a big stake in it.

They just sold some of it.

Open AI is probably valued at a hundred billion plus, but Anthropic is one a 400 plus private investments.

FTX made 400 private investments.

And where do you think those private investments were? They were in cryptos 1300 tokens, which weren’t that liquid.

So you couldn’t just sell this stuff without crashing the market, especially when they went bankrupt, which is what, November, 2022, I think.

And Bitcoin was 16,000, then it’s 70,000 right now.

It makes you think if FTX were a bunch of a******s, this guy wasn’t an a*****e, did the right thing, didn’t illegally leverage all the client’s money and, and throw it into another fund.

This is a company that’s gonna be valued at over a hundred billion dollars right now.

And at its peak it was 32 billion.

When Bitcoin was 60, 60,000.

Now it’s 70,000.

You say maybe it’s value a little bit more.

No, look what’s taking place.

Look at all the ET TF launches.

Look at all the institutions looking to get in.

I mean, how many of these funds are able to take custody? Hardly any FTX is the leader, they’re the biggest, they were the Apple of the industry, but all the institutional money coming in, which could end up to be a trillion dollars in 10 years, for the first time having easy access to Bitcoin.

And then you’re gonna see even more access as ethereum ETFs get approved, what, six months from now? Definitely this year we think’s gonna happen after they get approved.

They’re gonna have all these structured at two times or three times.

You’re gonna have managed, ETFs.

But just the amount of flows going into these things, you’re gonna see a ton of them.

A ton of them come out over the next two years and they’re gonna be a big beneficiary of the money because there’s gonna be institutions that are now, you’re gonna see companies with, you know, Bitcoin in the balance sheet.

Now that the accounting rules changed, it’s not just gonna be MicroStrategy, which we traded around the past three weeks.

Unbelievably, I think we made 80% in, in, in a week or two in, in Dollar Stock Club.

That’s Wall Street Unplugged Premium, right? Which I do Daniel every Thursday.

And then we sold it, everybody was p****d and then it came down and started going up again and we added it again, I think, you know, a week after we sold it.

And then Bitcoin went a lot higher.

So we’re doing very, very well in, in terms of that portfolio, which is, you know, in Dollar Stock Club.

We take an idea, one idea out of, you know, a lot of the ideas we mentioned in Wall Street Unplugged Premium.

And we put in Dollar Stock Club every week.

So you have a trading newsletter that we charge.

It’s, it’s a dollar to try that service.

You can go to, you know, curzioresearch.com.

But it’s a dollar just to try it.

And after that’s $10 a month.

And that’s a trading newsletter where I could tell you most trading newsletters in our industry trade for, I mean they’re sold at a thousand dollars most 15, This is $10 a month.

If you don’t like it, you cancel.

Trust me, you’re gonna like it.

The information you get there and the trades and that portfolio has been on fire, which is awesome.

But getting back to Sam Bankman-Fried and that company could have been huge.

Massive, massive, massive.

’cause what do you have? You have Coinbase Galaxy Digital, you know, that’s that.

There’s not a lot out there, you know, in terms of taking custody and, and you know, Robinhood is now providing if you, if you know, you, you move your funds over, you get, um, a 3% match in your 401k or something.

It’s just, you know, and you have international brokers, which is another one, you know, outside of crypto.

But they, they have, you know, their interest rates a four point a half percent.

I moved my mom’s account there compared to a lot of these other accounts.

So you’re seeing a lot of crazy stuff happen within the brokerage firms to get more assets over.

But you know, these guys would’ve been right in the middle of all this FTX if they just did it right, transparent in the Apple of the crypto industry now gone.

But I’m guessing that tomorrow that sentencing’s is gonna be probably 40 years, the big number and people are gonna be like, hey, and cheer it, even though they’re all gonna get their money back and they should be getting a 20% premium.

I don’t know where the money, all the money that’s being made right now, where that’s going, which is interesting.

I’d like to see that.

Is that going right to the government? Again, I guess maybe they’ll take that, which is supposedly taxpayers’ money and invested in Intel.

Kidding me, that’s where we’re investing my tax dollars in Intel.

Are you nuts at the S&P 500? There’s probably 497 stocks that are better investments than Intel.

Please.

Why? Why are we doing that for anyway, but after the sentencing in 40 years, I think he’s gonna be out in seven, less than seven.

And the political power this guy has is insane.

After the massive donations he made, if I was a politician, I would use every resource possible, which they have tons of resources to make sure this guy doesn’t write a book about these donations.

’cause that money wasn’t given back by many of them.

And as soon as there was investigations on it, immediately got shot, immediately got shot down.

You don’t see it being report in media or anything, but just you, the donations that this guy made were massive.

Were massive.

And you see reports, well, yeah, you know, okay, it’s, it’s political as hell.

People say, well, once to, if you look at the media, you’re gonna think he invest.

He, he, it was the same amount of money he gave to to Republicans as Democrats, which is totally insane when you look at, at the actual facts.

But even when you question Maxine Waters and, and all, you know, just all these people, they’re like, no, no, you know, they, they didn’t give the money back.

I mean the book that this guy could write on politicians is incredible.

It’s incredible.

They all supported him.

They all support him the whole entire time.

And he was smart.

That’s what you wanna do when you’re that big.

You’re a big company.

You gotta get into politics either way.

Whoever’s gonna win, you gotta be donating because that’s a very, very big, big thing.

Lobbying the right, you know, bribing the right party that’s gonna be in.

So again, that money was never given back by a wonderful and trustworthy politicians.

So to keep that shut, I’m sure it’s gonna be seven years anyway, since people are gonna be made whole again.

Uh, but expect a, a 30, 40 years.

’cause you know, you don’t want people being really, really p****d off.

And I think 30, 40 years people will be satisfied with it.

And you really don’t know when this stuff happens.

Just like, you know, when, when he’s out in seven, it’s, it’s not a big deal.

Three years from now, this isn’t gonna be a story, it’s not gonna be a story anymore.

A little bit of a story.

Now tomorrow will be a story.

Pretty big story.

Let’s get to Baltimore real quick with, with the Francis Scott Key Bridge, huge cargo ship crash into it.

You can see that video any place.

Uh, the first thing I wanna say, I is, you know, condolences to the families is six missing, presumed dead.

I think they stopped the search.

Uh, they weren’t able to stop the traffic ’cause they called before and said they lost control of the boat.

Again, there’s a lot of conspiracy theories and all this b******t going on.

Uh, you know, just doing research on this, it really is incredible when you see the ports, the supply chains, what goes on.

And I, I know, he’s go golfing with a captain of one of these ships who goes to China all the time, would be gone for a while and comes back and, and I would love to talk to him now and get in touch.

I haven’t talked to him for a couple months.

Uh, but just doing the research and listening to some of these people, I mean, it, it, it’s sad what happened.

I wanna say first thing is, is, is our infrastructure that bad? Maybe it’s me.

I don’t, I don’t know about engineering, but you crashed into a certain part of the bridge and the entire bridge goes down.

I mean, what happens if that’s like the tap sea bridge bridges, that, that are massively, massively long? I, I, you would think a piece of the bridge comes down, maybe I’m wrong and maybe it’s just there’s so much leverage and so much weight, the whole thing’s gonna come down.

I don’t know.

But man, that thing just came down immediately, the whole entire thing.

Uh, and I don’t know, maybe that could be, you know, no matter what happens and what kind of infrastructure we had, I’m sure you know, some of that bridge would’ve came down with that vessel hitting it that hard.

But I dunno, I was just surprised.

And maybe it’s me, but you know, again, we all know about our bridges and tunnels and, and water pipes and infrastructure and how much money needs to really, you know, how old these systems are.

And you could see that through so many different reports we have in infrastructure bill out there.

Hopefully, you know, we get a lot of money put towards this stuff.

I don’t think that would’ve avoided anything really.

I was just surprised to see that.

But second of all, I wanna talk about the port itself.

Almost all cargo and trucks that transport through that port use this bridge.

So this is the ninth biggest port in the world.

Eight, 80 billion of cargo went through that port last year.

So 3,500 a day direct impacts sugar.

That’s major within this port.

I mean, you also had a co carnival.

A couple companies came out.

Carnival said it’s gonna, it’s gonna take a $10 million hit to EBITDA this quarter because of that.

’cause supplies that come in, I think you’re gonna see a lot of that.

The quarter is coming up.

You might see good numbers for the quarters.

Uh, and and earnings season starts, I think in, in a week and probably two, three weeks.

You really get into earnings season.

But pay close attention.

’cause you’re gonna hear companies talk about this, especially car companies.

This is a number one port for vehicles handle shipments of 850,000 cars and lightweight trucks.

So GM four Boat came out and said they’re gonna have supply issues.

A Volkswagen, I think it’s a hundred thousand of these cars.

Volkswagen, you haven’t heard that.

But Volkswagen’s gonna, you know, again, this is gonna impact a lot of this stuff.

We know what happens when you have supply chain concerns.

Huge amount of coal also exported from this port two and a half million tons, making the second largest exporting port for coal.

It’s around 2% of total coal exports.

But I didn’t, I didn’t even know, like I love when you look under the hood and you find the s**t out, we produce that much coal and we send it everywhere.

I, I thought that was a big thing with climate change.

No more coal.

We can no more coal and there’s different levels of coal and some’s a little bit cleaner than others and terrible and meth, coal and stuff like that.

But really we’re sending out this.

So, so I guess, you know, when we send it out and then it’s used, um, you know, we complain about China.

Most of us going to India complain about them.

Oh, they’re using, we actually like providing, you know, it’s, it’s like you handing the gun and loading it, you know, pointing at someone and, and, and loading the gun and just, hey, hey, all you have to do is just tap that trigger and, and then you shoot somebody, right? We’re doing everything except pulling that trigger a little bit.

I just don’t understand from the climate change part of, of how this makes sense and, you know, no coal here no matter what, but you know, we’re under this impression that by all these emission standards and lowering them, that it’s gonna result in a better outcome for climate change.

Which I love the fact that they changed the name of climate change.

It was, it was global warming, but now it get, when it gets cold, now you can also say, okay, that’s, that’s, you know, climate change back and forth.

And to see the stories that come out and, and just how, you know, if we do all this is gonna be better for earth.

Uh, the United States is not earth.

It’s not the entire planet and we’re cutting back on our resources.

Everyone else is increasing their resources and that gives ’em a significant advantage right now.

Not saying we go all in on coal and go crazy and stuff like that, but it’s not like we’re making that much of a difference.

If we produce 20% less coal and everyone else increases their coal production by 30%, it’s the same thing.

It’s the same earth.

It’s not like, Hey, we got the spot over the US and we’re gonna be fine when the rest of the world ends.

It doesn’t work like that.

It’s just crazy.

Even with, with cars and, and EVs, you don’t realize how much in terms of mining that you need, how much that hurts the environment.

And for lithium batteries, I mean you’re going through all that cobalt, it’s insane people to talk about that.

You’re not allowed to talk about that.

You get kicked off social media if you talk about that.

If you question climate change, you get kicked off social media.

’cause climate change is an unlimited, it’s a blank check to do whatever the hell you want.

And it’s a forever blank check to do whatever you want.

It’s the perfect scenario for a politician where don’t worry about the facts, just say climate change, convince all of our kids in school that, you know, they’re all gonna die.

If we don’t change this, we’re all gonna be underwater.

It’s gonna be crazy.

Instead of really focusing on the facts where yes, there’s things that we could do.

Yes, I think most people believe that, you know, they care about the planet, but not to the point where a plastic bottle, I can’t, they don’t even stand up anymore.

Plastic bottle of water, a paper f*****g straw.

Are you kidding me? A paper straw.

I come on, it’s getting crazy.

I mean, I go through a washing machine like every three years because they got all these crazy parts and bells and whistles and all this stuff, you know, not using as much water and stuff and they all break.

I remember I had the big washing machine, 1, 1 1, this whole, my whole house used to shake when I was in Queens, New York.

We had that for like 25 years.

Same freaking washing machine, the whole house.

We went on the second floor.

The whole house used to shake, but it worked forever.

Now forget it.

All these emission standards and different things and forcing to do this and forcing to do that, it gets crazy.

It gets crazy.

You know, if, if you have the people on one side going so far on any side, going so far over, yeah, it loses the credibility of the problem.

I think that’s what’s happened when you have, like, I think I looked at 13,000 scientists that say that, you know, how terrible everything is in terms of emissions and, and, and climate change.

And then you have another 12,000 that say the opposite.

How is that possible? You usually have one or two outliers that say, no, no, no, no, no.

Based on my effects of my studies and my new study, you don’t have that many, you know, it just tells you that a lot of this i i is full of s**t.

And it is, and I’ve seen that personally up front with fracking.

I’ve seen it personally up front.

When I went to go see, northern Dynasties mine, pebble mine, a a and in the middle of Alaska when they said, oh, you know, it’s gonna hurt sockeye salmon and, and kill ’em all, which is 150 miles away because of the rivers that run through it.

And if they develop this mine, which is a largest undeveloped, copper and gold mine on the planet, they developed this.

That’s it.

Salmon is done.

And yet when I look, there’s no, there’s no, there’s no rivers, there’s no, there’s nothing flowing through the property.

I was laughing.

And you have to take a, you know, I had to take a a two planes at a helicopter just at that area.

Can’t even drive to it.

Middle of Alaska, middle of nowhere.

So nobody could see it.

Everybody talks about it, but no one could see it.

And when I saw it, I’m like, are you? So this is all b******t.

He’s like, 100%.

I was like, oh my God.

Like I just, I was naive.

I was like, wow, I’m just reading this stuff saying like, oh my God, you know, this, this company’s crazy.

We’re trying to produce this thing because you’re gonna kill all the salmon.

And, and you know, and the environment is terrible.

It’s, and that’s not even going to happen.

It’s, it’s fabricated.

It’s a complete lie.

It’s tons of money that goes on Alaska.

This is a personal agenda.

And, and it’s not.

It’s, it’s both Republicans and Democrats have both come out against this project.

And I guarantee you 99.9% of the people that write about this have never been to that site.

I’ve been to that site and you realize s**t like that.

Like, oh my god, man, there’s a huge agenda here.

These guys are just f*****g lying.

That’s the opportunity to make money for you guys.

But I look at that, the coal angle, um, one angle I think that’s not being talked about is gyp gypsum, right? This, this is used massively in construction, manufacture, wall boards, drywall make plaster and construction of homes using fertilizer also.

And you know, the healthcare industry to treat burns, abscesses.

Uh, but this is stuff that needs to be packed a certain way.

Handled a certain way.

So when I see on TV right now, they’re like, oh, they’re just gonna, right now we’re hearing it.

There’s not gonna be any supply disruption.

They’re gonna reroute this to another port.

That’s b******t.

And every port has specialized in, in different products.

In different products.

My, my, my wife works worked in this industry forever, you know, ports and going over, I think she handled like beef jerky.

She handled like 10 different accounts.

But I mean the regulations behind every single thing, right? And the fact that this has to be handled and the laws, it’s different for every single product, every single product.

And it makes sense.

Hazardous materials, some are not hazardous materials, some are food there, there’s all kind of thi and some ports don’t have to worry about that and say, look, we are gonna do a bad example, but I’m gonna exaggerate like we’ll do all food and we’re gonna do all cars and we’re gonna, you know, there’s, there’s each port, you know, they specialize in certain things.

This one is number one in cars.

Are other places set up for this? I don’t know, maybe, but I could tell you when it comes to different products, it’s not as easy as like, Hey, you know what? Go to Jersey, go to New York, go to San Francisco, whatever California and we’ll be fine.

And then we’ll just transport this back and forth.

No, I mean even the cost of doing that, it’s crazy.

But the US imports over 65% of gypsum, which there’s 47 companies that produces stuff in the US Fuel publicly traded, started look into a few of these names because it makes sense.

Probably easier and cheaper for them to increase production.

Right now again, 65% is imported for some reason ’cause it’s probably a little bit cheaper.

But now if that’s disrupted, these guys have an opportunity to produce a lot more and probably increase the price ’cause it’s gonna be high demand.

’cause you’re still seeing housing construction, you know, take off.

It’s a lot of uses for this and I’m gonna cover some of these in Wall Street Unplugged Premium tomorrow with Daniel.

You look at customers, you know, each port has different customers and this one, you know, home Depot, Lowe’s, Walmart, Amazon, Ikea, I mean just all the furniture companies out there.

There’s so many different companies that are gonna be impacted, ton of major retailers.

So pay attention to earnings season and the current quarter might be good, but they, you might see warnings because of delays and most importantly, what is this gonna lead to? And you’re gonna be able to have some good trades.

Again, Daniel and I have talk about a few names that that, that you know might be able to trade because of this.

But the bigger point here is inflation.

Inflation is on fire.

Again, I dunno if you’re paying attention, it is on fire, it’s on fire inflation.

It’s not like a temporary thing.

I’m sure you’re seeing it.

Almost all my bills are starting to go back up again.

Everything from electricity, look at the insur, how much insurance has gone up just in the past few months.

It’s been going up.

Auto insurance, health insurance, all this insurance going through the roof.

So you’re looking at, at food prices, I’m still seeing Chipotle.

You know McDonald’s, if you listen to their calls, look at McCormick just reported higher prices, Lulu Lemon, higher prices and they still, for the first time ever, I think they missed a quarter and the stock got hammered.

This is not gonna help when you have supply chain concerns.

So what’s the next move for the Fed? And I’m gonna tell you, as crazy as it sounds, and I know it’s an election year, so totally disagree with it.

It might be a hike.

The next move for the Fed.

I know it sounds insane.

It sounds crazy.

Frank, you’re outta your mind.

Listen to the predictions of what we said about interest rates and how high they were gonna go and how everybody was wrong.

I didn’t trade the best way, way because I was under the assumption.

Everyone said the market’s gonna go higher because interest rates are gonna go low, the Fed’s gonna start cutting.

And I’m like, the Fed’s not gonna start cutting.

So we’re probably gonna see the market come down even further.

That didn’t happen because the government side sent trillions of dollars.

I’d rather it the other way where I was right on and making money off of it than, especially at the beginning, it being right on the thesis.

But before you think this sounds crazy, going to this year, we’re expecting six rate cuts, then it went down to three.

Now it’s one.

Powell knows we’re not gonna get down to the 2% target.

Even though some guy on CNBC was like, we’re at 2%.

If you strip out real estate, if you strip out this, if you strip out there, we’re not at 2%.

Our lowest level of inflation was October.

It’s much, much higher now.

And the last two months, the PPI and CPI came in hotter than expected.

And now we have this.

Now we have economic data coming in.

Consumer sentiment is higher leading in economic indicators.

Positive reading.

First time in two years, everyone’s like, the economy is great, we’re going to see more inflation.

What’s the Fed gonna do? How could they cut? They can’t.

It’s an election year, which is probably the reason why they won’t raise.

But they promised 2%.

Powell just said, okay, it’s not gonna be 2%.

Now it might be two to 3%, Massive.

If that, it’s a 50% increase in inflation on top of what? The prices we pay right now, the Cheesecake Factory with my daughter, it was 80 bucks for two people.

Now people are starting to tap their savings with interest rates staying high for longer.

You’re seeing that you seeing credit card delinquencies go higher and higher and higher even though, and 21, what is, what’s the rate at 21%? But this month coming up, when they report in April, they’re gonna be reporting March data.

I mean, let’s see where it is.

It might come in line with expectations ’cause they’re probably gonna be raised getting into that.

But if this comes in hot of the spec, that’s three months.

That’s not like, oh well let’s see, that’s temporary.

This is three straight months of higher inflation.

How can the Fed cut rates they can’t cut rates.

The only reason why they wouldn’t raise rates one more time to try to sell inflation is because it’s election year.

We all know it’s political.

We all know it’s political.

or conspiracy, it’s political on both sides.

On both sides.

It’s political.

But let’s see what happens.

’cause this does not make it good for the Fed in terms of inflation.

’cause this is gonna lead to inflation right now.

I mean, look at cars, look at autos, look at the parts, look at, you know, carnival.

There’s a lot of stuff that under the hood, and I think, you know, watching CN BBC and other places cover this story and, and you know, they’re doing a good job, but they’re all saying that this is not really a big deal.

This is a big deal.

When you look under the hood, it’s a big deal.

It’s not easy to say, oh, you know what, just throw that to that port.

I mean, what about all the trucking services? Think about all the trucking services, right? All logistics behind that.

Getting stuff to different places.

The amount of costs.

How much is it gonna cost? Where, okay, I get off of Baltimore and I don’t have to drive to New York.

What happens if I, I have to go to California and drive across the country? And the cost? What happens is, you know, what ports you’re gonna use, you might not be able to use a port that’s close by because maybe they don’t have the services or the logistics to handle some of the products, which again, they all have different standards and, and, and, you know, federal laws behind them of how to be handled.

This is a bigger deal than they’re, than making it.

It’s, it, it, it’s a bigger deal guys.

It’s gonna impact a lot of companies.

I think there’s a lot of good trades in here.

Dan and I will cover that tomorrow on Wall Street Unplugged Premium.

So guys covered a lot today, even though I’m tired.

But, question, comments.

I’m here for you, frank@curzioresearch.com.

If you didn’t get a chance to watch our event last night, you could watch the full replay Curzioai.com.

Okay? Definitely suggest you do that can absolutely for free.

You’re gonna be more educated on AI than probably Uh, and you’re gonna know exactly how to pick the next wave of AI stocks, which a small caps, mid caps that are off everyone’s radar.

You’re not gonna be able to find ’em through screens, and you’ll find out why as soon as you have a presentation.

It’s really, really cool.

I haven’t seen anyone talking about this, and that’s why I think people stayed on so long.

Hundreds of people stayed on until nine 30 at night.

Kind of sucks for me.

I kind of liked it answering the question, but I was actually running on fumes and, and stuff towards the end.

But I wanna be there for you guys and answer questions, which is really, really cool.

So you can get a replay of that Curzioai.com.

So thanks so much for listening and I’ll see you guys tomorrow.

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The good, the bad, and the sexy from CES 2024

The best and worst tech from CES 2024… A first for sex tech at the Consumer Electronics Show… How VR/AR will change entertainment forever… And which companies have an early lead in the artificial intelligence (AI) space.

More Wall Street Unplugged

NYC… CPI… AI… Oh my!

A trip to the Big Apple… The Consumer Pricing Index shows hot inflation reading… You should do this when the Fed cuts interest rates… Artificial intelligence is starting to take over—I can show you how to profit.

AI will lead to an earnings explosion

In today's episode: A recent Billy Joel concert experience… AI is booming, providing efficiencies, and disrupting industries… Get in now. Crypto—and our portfolios—are on fire… Bitcoin crosses over $60,000… And MicroStrategy buys more Bitcoin…

Buy this ‘Mag 7’ stock right now

The market is ignoring some major risks… Which "Magnificent 7" stock is a buy right now … Company fundamentals finally matter again… Frank's shocking take on Disney (DIS) ahead of its quarterly report… And the Bitcoin 'Super Halving.'

This tech giant is a screaming buy

Why Microsoft (MSFT), Alphabet (GOOG), and AMD (AMD) are down after earnings—and which stock to buy on the pullback… Why Elon Musk deserves his massive pay package… And the next crypto catalyst could mean 10,000%-plus gains.

Tesla

How to trade Tesla

Netflix's (NFLX) blowout results—and why the company remains the undisputed king of streaming… What to expect from Tesla's (TSLA) latest quarter—and how to trade the stock… And why you MUST prepare for a major pullback.