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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 May 17th.

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.

So much going on debt, sailing, debates, possible downgrade.

If us credit the Fed, are they raisin? Are they cutting? If you ask a hundred people 50, you’re gonna say one thing.

And economic data is all over the place showing an inflation and showing size of deflation, stagflation, it’d be nice.

Just fall asleep.

I wake up a year later and the market’s at the same price with all the risks and all the craziness, but I’m here to try to make sense of it for you.

And I wanna start with the Fed , whether they’re raising or they’re cutting.

And we just saw another number come out.

Retail sales grew 0.4% in April.

Grew grew, right? Retail sales grew, used to getting a negative number there.

Now it’s growing again, but it was still slower than the 0.7% expected.

This is retail sales, right? This is the consumers.

What I found interesting in this report is if they strip out autos, just like they strip out like core food and energy at A CPI, so they have retail sales.

Remember retail sales grew 0.4% in April, but they always strip out autos in this cause it’s volatile.

This way you can get a pure number.

That’s what they do with the core.

Again, excluding food energy.

So when you strip out autos, retail sales create the same percentage, 0.4%.

Does this mean there were no auto sales in the month of April? I wanna see how that works out.

I thought that was interesting.

When you strip it out, it’s either lower or a higher and it was exactly the same.

So no impact from auto sales.

I guess either way, retail sales are growing.

They thought they were gonna grow even further at 0.7%.

Again, coming off a few negatives.

Now when you look at all the data as a whole and you wanna know whether the Fed ‘s going to cut or if they’re gonna raise, which is significant, right? We’re pretty high.

They raise rates by 1900% fastest, right? From point 25 to 5% fastest rate hikes or percentage wise in a history of the Fed, right? Never, never did this before, but yet we’re still seeing some companies hold up.

The market’s holding up pretty well, you say, yeah, it’s really five, seven companies accounting for, for most of that.

When you look at the CPI, and this is what you need to understand.

When the CPI is growing at 9% last year, then you know, or even you could say 9% for a month or two, then 8% it’s still growing, right? So you’re not seeing a decline where, wow, we just paid 20, You have to realize all this tightening is going on, raising rates, the Fed taking money out of the system now instead of buying bonds, selling bonds, right? So quantitative tightening, trying to lower to money supply cuz we decided to go nuts with trillions and trillions and trillions of dollars being spent.

But all this nonsense, you still have the core growing at 5.5% year over year.

And again, I mentioned this in past podcasts.

It’s important if you really think that the Fed ‘s going to cut or they should cut in the core grow of 5.5%, they’re expecting that to be a 2%.

We’re not gonna get down 2% this year.

So if they cut, good luck.

But let’s look at some other things like Las Vegas.

You see record sales or rooms.

The strip casino rooms average 209, average $209 a night from January through March.

You know how much that’s up year over year.

28% year over year.

That’s b******t.

If you go back to 2019 pre pandemic, that’s a 40% increase.

But there’s no inflation here.

There’s nothing.

People are looking at all this data.

There’s no inflation rooms.

Look at property values.

Look at property values in Miami.

Try to buy something down there.

Try to buy something in Vegas right now.

I mean these are all time highs.

Property prices, some of these cities, food prices still up.

Vegetables.

You look at eggs, they’re like, well, eggs came down.

They’re still up 20% year over year.

Pet food’s up 15%.

Bakery products up 13%.

Rents are still up 8%, 8.8% year over year.

I know, I know rents are gonna come down.

We heard that for 12 straight months.

Rents are eventually gonna come down just like inflation is transitory sounds familiar, right? How about electricity? We all gotta kind of pay that still, right? Electricity, yeah, that’s up 8% year over year tuition, forget it.

Wreck highs.

Government pays for it.

They’re gonna raise tuition forever and never and ever makes sense.

Biggest corrupt system on the f*****g planet next to healthcare.

Sorry to curse, I don’t mean to curse.

Cable.

Satellite streaming up over 5% year over year.

These are bills that we pay every day, right? Wages, wages, rising rates.

CPI unemployment rate lowest since 1969.

I mean, you can point to energy down 5%, appliances down 10%, use cars down 6%.

Again, you have some data points showing that decline.

But when I hear Jerry with single goes on there and says, inflation’s disappearing, are you adding, I mean this guy, I, I could see that he’s not a guy that’s traveling like crazy and going to different places, right? I could see that.

Most economists don’t.

They’re not like the, the the fun guys at the party.

They’ll go to a conference here or there when they have to speak, they speak and it’s monotone.

You have, it’s hard to get an economist to really be exciting.

It’s why nobody ever wants to take economics.

Even though it’s the most exciting thing in the world if you taught it right? But everything around you, prices going higher.

Your neighbor who’s a fireman just bought a $200,000 or $150,000 car.

Are you kidding me? Like things like that that you could see how much you’re paying for milk, how much you’re paying for tuition, your kids, how’s everyone’s, it’s everything around you.

It makes it so exciting.

But yet again, bell curves and based on productivity growth, this is where it’s, we don’t want hear just, you know, again, try to make it a little bit interesting cuz it is.

It’s fascinating.

Economics, just it, it’s trying to measure actually the future and predict spending patterns while people get spend on all of a sudden nobody’s buying big ticket items anymore.

Pelotons appliances and use cars.

Nope.

We’d rather spend on services.

Look at the travel industry.

Everything’s much, much higher.

But if you’re looking at this data that I just pointed to, which is almost everything inside your house that you’re paying for, which is much, much more than you’re paying even month over month, how can a Fed lower rates? It doesn’t make sense.

Maybe the market crashes or we have a further, you know, credit crisis type in the banking system, which it wasn’t really as bad as everybody makes it sound.

Again, we got 4,000 regional banks.

Not too bad if a couple of them get taken over or go outta business.

The main ones, there’s no systemic risk there, right? According to the Fed.

So yeah, they’re worried about inflation.

That’s their primary concern.

And if that’s their primary concern of getting down to 2%, which Powell made it crystal clear, we’re not looking at 3%.

It’s not even on a table.

So if you think about a cut, something drastic has to happen after the Fed ‘s going to cut.

Otherwise they’re gonna make the same mistake that they made in the late eighties, which is considered the worst mistake of that history.

Again, things that I covered.

Now let’s talk about how companies are positioning themself.

When I say companies, the big money, the hedge funds, cuz there’s so much money in the system.

When you look at companies, something that the private equity companies supposed to do bad, supposed to do bad in this environment, right? They use leverage and it’s much more expensive.

These guys are sitting on hundreds of billions of cash.

KKR will loan a hundred billion in cash, dry powder, hundred billion.

Then you look at the big guys, look at big tech companies and I could picture how the ceo uh, you know, you have Tim Cook, you, you have even Microsoft, you have Google.

The CEOs wake up and they’re like, oh you know what? I’m not gonna buy 60 billion of us.

Let’s go with 70 billion.

Yeah, right? A bigger market cap than probably 400 of the 500 companies as S&P 500.

Yeah, that’s gonna be a buyback.

Apple, what is it? 90 billion buyback.

Yeah, he is gonna buy back 90 billion.

I mean they’re so big, right? But when you look at the 13Fs, if you’re not familiar with 13Fs, guys, that’s where all these companies, the investment companies need to report.

I think if they have over a hundred million in a**ets in the management, they need to report their buys and sell over the past three months.

However, there’s like a two week lag.

But they could buy this early in a month and they could sell it just before this report or a week or two before this report is published.

So it doesn’t mean that they actually still own these things.

You have to look at the investment manager’s style.

If it’s Bridgewater or something like that, they’re in and outta stocks like in a second.

Again, they’re front running everything and, and it’s not about trading on fundamentals and things they like, it’s just about, you know, looking at the whole system, the inconsistencies and making money off everybody else, right? And there’s a reason why they’re untouchable because every billionaire you’re looking at the pension funds, they’re all in these, right? They’re all making a fortune off of them.

So it’s not ever gonna be regulated.

They’re just, it works until maybe it doesn’t work and the whole system blows up.

We’ll see there’s thousands of algorithm systems on top of that one that try to follow.

So maybe your sixth, maybe your 10th, maybe your 80th try to squeeze out as much gain as you possible.

But who knows? Maybe they’ll say sell at the same time.

That’ll be interest.

That’s an interesting story later on that we could talk about.

Not now.

Cause right now it’s a debt ceiling.

Will they come to terms? I don’t know.

I know that the debt’s, what do we got? 32 trillion just about right now.

And I know two years ago I tweeted about this at Frank Gio two years ago, dead ceiling.

I found this interesting.

So I think they raised it, they had trouble and then back and forth and they raised it.

Yeah, it was 20 billion and then they raised a debt set, but it went from 20 billion to 31.

It’s, it’s not two and a half I billion trillion, but about two and a half trillion in the past two years.

Okay? So now we’re raising it again two years later.

What the hell happened over the past two years that you spent two and a half trillion? You know how much money that is.

And we look at 31 trillion, but how do we go through 2 trillion and look at a**et prices at all time highs maybe.

So the market come down a little bit, maybe tax receipts are a little bit lighter than expected, but trillions, how do we spend trillions over the past two years, two and a half trillion.

How do we spend that? What do you think they’re gonna do? They’re gonna raise a debt ceiling.

I mean there, there’s no limit.

And if you go back at the past, debt sails.

They’ve done the research on us.

I mean 1996, 2013, you know, few government shutdowns here and there for like a couple weeks or whatever it was.

Or a couple days.

The downgrade that we had, when you go back, we’re looking at, at, at, where was it? It was, it was 22 trillion at COVID.

Now we’re at, I mean this is pre COVID, Then, you know, two years later it’s 28,000,000,000,002 years later.

I mean we’re spending 2 trillion just to show you the amount of money on the debt ceiling.

And why is this is crazy and why I think the dollar’s gonna continue to lose its reserve currency status, right? When I say it, continue to lose it, I mean that percentage is gonna go down.

It was 75% of of you know, the total world recover currencies.

Well over 70%.

Now it’s at 59, 50 8%.

It’s going lower and lower and lower.

Where think it’s gonna go? I mean, how much higher could we go on this debt? Where now where we’re paying 1.

2 trillion in interest payments, are you outta your mind? That’s an interest only.

What are we gonna do? We’re gonna raise a debt ceiling by 2 trillion.

We’re gonna be out of that in a year.

We just lost 2,000,000,000,002 years ago.

How much more are you going to raise us? And now it’s getting serious here and it’s resulted in a lot of countries going to hell with this man.

We gotta find a different way.

We gotta ween ourselves off a dollar.

And this isn’t just coming from crazy countries like Venezuela or North Korea, we’re talking about Europe.

It’s not just coming from Russia who hates us cuz we took ’em off the Swift system and shut ’em off and closed our economy.

I mean now you’re looking at China, now you’re looking at the Middle East and the Saudi Saudis doing deals with China energy, l n g deals and won, what the heck that never, ever, ever, ever happened before.

This is serious.

So big risks here.

And of course they gotta pa** it.

Maybe they wait a week and you know, scared of everybody and it’s gonna be volatility, but they’re gotta pa** it.

It’s gonna happen.

But a lot of crazy stuff out there.

So how are you positioning? Well, if you look at the 13Fs and how these guys positioning, I did see one trend that I, I haven’t seen before, probably ever over 15 years.

Easy.

I’ve been analyzing these things probably longer, but the largest increase I’ve seen, the largest increase in the big five companies than I’ve ever seen analyzing these reports.

Apple, Google, Nvidia, Microsoft, Amazon, get over 15.

I’ve never seen, usually they, they’re buying, some of ’em are selling and yeah, there’s a lot of different names.

Uh, I mean just you’re looking at, at Appalooza, David Pep, te David Tepper, AllianceBernstein, Baupost, which is Seth Klarman, Bridgewater, D.E. Shaw, Fidelity, Maverick, Nuveen, Third Point, Daniel Lowe, Persian Square, Ackman probably the biggest purchase they ever made in a, in a stock, uh, in Google, Viking.

I mean all these guys, all the research that I get and there’s a lot more of them, the amount of money going into one of those five stocks or two or three of them, I’ve never seen that much exposure going into them ever.

Now what does that mean? What does that tell you? That’s the safe haven that tells you that they’re nervous on the markets.

Cuz those are the new safe havens.

They have companies with incredible balance sheets companies that, that just, again, hundreds of billions they could just, that they have access to.

Just told you, 90 billion buyback for apple, 70 billion buyback for Google.

And they’re not trading at obscene valuations.

Insane valuations.

But these are, you know, you have the optionality of these companies that not only are you buying them and they’re earning money off of, you know, interest off of these big balance sheets now and they’re buying back their stock, which is always great.

But now you have that optionality where these guys are using that strongest balance sheet in the world to invest in in other companies.

So they like for growth where it’s very, very difficult to find growth in this market right now.

It’s not easy.

You’re looking at revenue, average revenues a lot growing, one and a half percent I think, and earnings are down year over year.

You’re not seeing a lot of growth on average in the market.

So why I park my money here where these companies are doing better and they have great balance sheets and if things fall 10, 15%, they’re gonna buy back even more of their stock.

So the fact that you’ve seen so much buying into this area of the market tells you that these guys are nervous and they should be because what do we see from the Fed chairman? What do we see from Powell? Bumbling? I mean, again, he, this is a market that there’s no playbook for.

There’s no play.

Oh remember what we did? There’s no playbook for pushing 11 and a half, when everything goes back to all time highs, that’s why you’re seeing inflation continue to go higher in so many different areas.

To the point where, and those are serious areas that I mentioned.

Those are, you know, electricity and yeah, you could say with decline in energy, you’re looking at all the costs that you pay.

Even food costs are still going higher.

They’re going higher.

They should be declining by five 7% of what they did, what they did with interest rates.

That’s what under normal circumstances, that’s what happens.

Why do you think the Fed was so fooled about trans, about inflation being transitory? They’ve never seen anything like this in history.

The amount of money injected, the amount of money sloshing around out there when 90 billion, I don’t even know if these companies have these kind of market caps.

They’re buying back that much money.

You looking at at KKR, a hundred billion in dry powder continue to raise money.

You know how much money’s out there still.

And people might be looking at us going, Frank, wow, my business is struggling right now.

Holy cow.

You know, it’s not that easy out there.

It’s not.

But these big companies have generated so much money.

When you look at inflation, just are the bills you pay? They’re still high after Fed raises.

I’m telling you, inflation’s going right back up to eight 9% almost immediately.

I would say two, three months later, you’re gonna see it trend tremendously higher and room rates up 40% since pre COVID.

Where’s the decline? Forget about, hey, it’s slowing.

You’re still gonna have to pay 40% more than you paid in 2019 if it doesn’t grow anymore and it’s still growing.

Oh, it’s slowing down ifl.

Like how much more could people pay these incredible prices when they’re seeing, you know, some of’em starting to see their job cuts, but yet it’s not really showing up on the, on unemployment lowest over since 1969 because services people need, you know, that’s a booming industry right now for services, but it’s incredible.

So you have this back and forth, constant back and forth.

I mean you watch tv, just think if you shut it off and came back like five months later and whatcha are you gonna see five, 10% in the market? And either direction maybe could be a little bit worse than that, but, but you know, it’s, it’s, it’s kind of amazing that we’re seeing this.

The one positive I will say about this market is you’re expecting a recession.

Most people are, and the companies see it.

They’re seeing the slowdown.

That’s why the major companies are cutting back costs.

The major technology companies, they’re cutting.

Almost all companies are cutting costs right now.

Very few are spending more this year than they did last year.

Especially with cap x-rays to grow your company.

You know, again, m and a and stuff like that.

They’re cutting back they see in the slowdown.

So if you see it, that’s a good thing.

They didn’t see that If I sold treasuries, holy cow, I would’ve to take those losses and these banks didn’t see it.

Right? That’s a surprise.

We talk about commercial real estate, I still think that could surprise, you know, being a lot worse.

But what is it that we don’t see that’s gonna really push the market down? But overall, earnings is still incredibly high, but you get hit more.

I mean, it’s back and forth with the market.

It, it, it, it’s so hard to judge and it’s all over the place.

But I could tell you, for those of you looking for the Fed start cutting, maybe they pause, maybe they came up here, but I, there’s just no way they can cut cuz man, I mean they probably already their reputation, but this is something the writings on the wall of something that you should never, ever do again.

And they’re about to do that.

I don’t see that.

But people think they’re gonna cut.

They’re crazy.

Not if Powell sir is saying he needs the inflation rate to 2% CPI 2%.

He’s not getting 2% this year.

He’s not gonna get 2 cents year.

It’s impossible to get 2 cents a year.

It’s, it’s almost mathematically impossible to get 2 cent this year.

It’s rentals and the lagging rentals, which, you know, again, real estate counts with 30%.

I don’t wanna get too far into the weeds and, and the details of the numbers behind it, but it’s almost mathematically impossible to get down to 2% this year.

It’s almost impossible to get down to 3% this year.

Let’s see, by the end of the year we’ll see.

But then what do we have today? Or actually yesterday it was Home Depot.

Home Depot came out, puts Q1 their earnings $3 and 82 cents, which was 1 cent better.

But sales fell 4.

2% year over year.

That was the 37.2 billion, worse than the 38.

5 billion.

So they missed by more than a billion.

It’s the worst revenue miss for Home Depot in 20 years.

Now Home Depots, look at it, it’s a pretty big deal, this stock, right? It’s a major play in bold S&P 500 , especially a Dow having almost double a weight of Walmart because it’s double a price despite Walmart having a 400 billion mark cap, which is higher than Home Depot.

300 billion, close to hundred billion.

If you look at the way it’s calculated in terms of the waiting, even in s sp 500 has a greater index and earnings influence.

A lot of has to do with like the Walton family, the huge stake in Walmart and stuff it, but it reduces weighting the S&P 500 .

You know, that’s because you know, when you’re looking at Walmart, so people look at Walmart and say that’s the biggest retailer, home Depot, when you look at the major indices has a much bigger presence than almost any other retailer, especially in a but also in the S&P 500 when it comes to earnings, right? When it comes to earnings and, and and their influence.

But more importantly, what do Home Depot say, right? Cuz it’s all about guidance.

That’s what I tell you about.

That guidance is absolutely horrible, horrible full year 2024.

So old next year, right? They’re reporting first quarter of 2024.

They said earnings, they expect to be down seven to 13% year over year.

So they reported, they’re saying they’re gonna earn about $15 that, you know, they had a a, a big estimate that you could drive a truck through.

But if you take the average that’s $15 and if you’re looking at the expectations, were about 1575, that’s, that’s a major, you know, it’s a major hit.

It sees full year 2012 revenues down two to 5% year over year to That’s from 1 56, 1 57 also sees same store sales following two to that guidance and the stock’s only down about one 2% right now.

Yeah, that’s how much it closed down 2%.

It was down like 5% yesterday.

It’s gotta be, but not, that’s not too bad considering this is a pretty bad report and stock’s been down I think 10% for the year.

But the bad news here for Home Depot, okay, and they may do a great job in, they’re gonna do a great job cutting costs like all these companies do.

And it does have a super strong balance sheet.

But this is a company that it’s hard to see things getting better going forward, especially the next 12 to 18 months because it’s directly impacted by higher rates.

So higher rates, you have mortgage rates much, much higher.

They’re at 3% where they close it 7%, six and a half, It means much for your refinancing, right? Where people take that money and reinvest the home through new projects.

I mean that’s why they haven’t HELOC loans now, which are like temporary low loans, home equity lines of credit.

They’re starting to boom again because the refinancings, most people have their mortgage rate I think I wanna say under 4%, which they locked in majority of people.

Maybe it’s a tiny bit higher, but we’re at six plus six and a half plus.

So refinancing is gonna be a little bit higher than that and people aren’t really refinancing and that’s a big part of Home Depot also Lowe’s, right? Do it yourself marketing.

So I don’t see rates falling much further from here.

We may see a pause, but the next 12 months, at least maybe 18 months, you have this ma**ive headwind for Home Depot.

But if you take the $15 in earnings per share and the current price of two 80, right price divided by earnings, it’s the P/E ratio.

Home Depot is trading at 19 times forward earnings that’s around where the market is.

You say well it’s not too bad.

Well that’s really horrible if you think about it.

Hey look how crazy expensive it is for a company that’s seeing sales and earnings decline year over year.

That’s an insanely high valuation, okay? You can’t just take that number of PE and say, okay, it’s expensive or it’s cheap without looking at the sales and earnings growth going forward or what the projections are.

Because you can have a company trading at 30 times for what earnings, if they’re growing earnings by 60, 70%, that stock is cheap.

You learn that from Apple, Netflix 15 years ago that nobody wants to touch at 70, 80, 90 peas at 10, 15 years ago.

And you wonder how they grow into these big market caps cause they’re growing exceptionally much, much faster than the overall market.

But when you see Home Depot at 19 and people are like, well it’s trading at, you know, a market multiple right now it is Home Depot that’s super expensive for a company that’s telling you same store sales are gonna be declined up to 5% earnings are gonna decline much more than expected.

Sales are gonna decline year for year.

And that’s how you have to look at the market going forward.

Guys, that’s sound like Home Depot and I want exposure.

Everybody has large cap exposure, you have it in your 401k, it’s where do you want to position yourself in the right names.

So if you’re paying 18, 19% forward earnings for a stock, you better hope that they’re growing earnings sales at shares, right Sales and if not growing earnings and sales earnings revenue then, I mean that’s a really, really expensive multiple.

But now you’re seeing lots of big brand industry leaders trading at exceptionally high valuations while seeing the Home Depot, right? Earnings on sales decline year over year.

It’s not sustainable.

You can’t have that high valuation when you’re not growing those earnings and growing those sales.

Now when you, especially now we can earn four and half percent risk free four and half percent by putting your money in the Apple savings account, risk free, risk free, you might say, well why is that a big deal? I mean if, if you look, let’s take the analyst estimates and this is how I judge if a company is hated or loved, right? So if you have a lot of analysts that have a buy rating on it, it’s usually loved.

If not, it’s hated.

And a lot might be priced in.

Well there’s 39 analysts that cover Home Depot that’s on an institutional research side.

So that will be JPMorgan, Goldman Sachs, right? Those guys, Expectations are pretty high buy rating.

Notice how nobody is selling, even though these earnings were much, much worse than expected across the board, everyone’s lowering their estimates now they’re not gonna lower their target.

No way.

These companies don’t do that.

Uhuh, we need their investment banking business.

We don’t wanna put a sell rating on, by the way, only two, only two sales on Home Depot.

So despite 23 buy ratings, the average price target is just $323.

So we’re looking from the current price right now, that’s about 13% upside with a lot of risk, right? The average target prices showed 13% upside.

But look at the risk you have to take what interest rate risk and that headwinds not going away anytime soon.

Fall Depot, hey housing definitely peaked and coming off its peak.

Some areas are good, but most areas, eh, you know that anxious rates are double, mortgage rates are double more than double than they were 18 months ago.

And you’re looking at a company with 13% upside, but yet they’re not growing earnings of sales and trading expensive valuation compared to again earning four point a half, 5% risk free.

What’s better for you? Now in tomorrow’s Wall Street Unplugged Premium podcast, cause that’s our premium version, we charge $10 a month for it.

You get a free newsletter, trading newsletter, all that stuff.

And thank you so much for getting lots and less of new subscribers.

You can see the difference in that podcast we’re giving away, you know, recommendations, lots more names and stuff.

But Daniel and I gotta breakdown a list of 20 industry leading names.

Trading at 18 and 19 times folder earnings per share, just like Home Depot that are much, much better buys than HD.

Why? Because they’re expected to grow earnings on revenue a lot faster than Home Depot and they’re not gonna be as impacted and have that risk from those higher rates.

Like most housing stocks are.

Now we’ll give away two, these aren’t the ones that we’re gonna recommend at Dollar Stock Club.

Again, you have access to that portfolio as well.

That’s a newsletter just with $10 a month that you get Dollar Stock Club, the trading newsletter, trading I every week.

But I’ll give away two right now.

Meta and UnitedHealthcare.

So I bring up my list again, we have 20, there’s probably about 40 stocks I could actually give you, I’ll give you 20 a Meta.

So look at Meta trading.

18 times forward earnings.

It’s growing its sales at 34%, right? Lemme just look at this really quick.

So this is Meta and I listed and I have this all the, the S&P 500 companies based on revenue growth, sales growth and and their PE ratio.

So if you look at earnings growth for these guys, and let’s see, so Meta is growing, earn growing earnings at 32%, sales at 8%, trading at the same multiple of Home Depot.

Which one do you wanna own? What about UnitedHealthcare, right? They say healthcare costs have come down in the CPI report.

That’s b******t.

United Healthcare just raised my rates.

I mean Trump premiums everything.

If I don’t know anyone in the world that’s paying less for healthcare than they are right now compared to yesterday, one month, one year, five year, whatever you wanna take, they just continue to raise.

That’s what happens when we have the government paying for stuff.

Unlimited pricing power for these guys and insurance companies and stuff like that.

We all know that.

But UnitedHealthcare is training at the same multiples Home Depot yet growing earnings and sales at 12%.

What do you wanna own? We’re gonna list another 18 names and lease another 18 names.

I’ll probably go, I just went through it really quickly, but I’ll share those names with you and Daniel’s gonna share ’em as well.

Tomorrow’s podcast, which is Wall Street Unplugged Premium.

Also gonna recommend one of those names for Dollar Stock Club portfolio we believe has over 25% upside over the next three to six months.

Really cool name, see if it’s under the radar.

But these are industry leaders.

A name, name that you might have heard of, but most of you probably don’t own.

So also we’re gonna be highlighting a few under radar names that caught our attention in the 13Fs on both the buy and sell side, right? So I talked about the names of the big companies and how much money is going into them, but I, what I like to look for is just like sells that, that, you know, maybe something that they bought recently and we’re not talking about guys that have an active, that’s called Active or, or you know, an active manager is someone who’s buying a selling right away.

That’s usually like the algos and stuff like that, right? So, so I’m not talking about Renaissance and things, I’m talking about bigger names that take positions and usually they add over time, over years that blew outta some of these stocks right away, which is not a good sign.

Or some smaller names that caught my attention.

I just couldn’t believe how many big names these guys really put their money into.

Usually it’s not that many.

Yeah, some of ’em are buying here and there, but almost every one of ’em across the board has put money into this.

It’s kind of like putting money, you know, instead of a money market account putting into Safe Haven.

That’s how I’m viewing it.

Okay? You can have a different opinion on that, but that’s what they really are.

Those are the Safe Haven stocks.

Now, those large NASDAQ companies, five or six of ’em, we have some under the radar names and I like to see just some buying.

I’m like, wait a minute, why are you buying that stock? Or it’s totally out of favor and you got a good manager buying.

So we’re gonna cover that as well.

Again, it’s gotta be in Wall Street Unplugged Premium podcast, which is tomorrow for all the premium members.

So guys, a lot going on.

That’s it for me.

Any questions, comments feel free to email me, frank@curzioresearch.com, frank@curzioresearch.com.

I’ll see you guys tomorrow.

Wall Street Unplugged Premium.

So take care.

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The information presented on Wall Street Unplugged is the opinion of its host and guests.

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