Transcript was automatically generated.

0:00:02 – Announcer

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

0:00:16 – Frank Curzio

This is going out there. It’s April 16th. I’m Frank Curzio. This is the Wall Street Unplugged podcast, where I bring you the headlines and tell you what’s really moving these markets. We’re getting Daniel Creech here to talk about everything that’s going on. Markets are up, they’re down. Nobody knows what the hell’s going on. People ask me Daniel, hey, what do you think? What do you think Mark’s going to do? And I actually tell them I don’t know. That’s good, you, that’s good. You’re being honest. I really don’t know, and I’m seeing more CEOs say that. I’m seeing more people say that I never thought.

Even when someone asks you a question especially if you’re on TV or you’re on stage or wherever you’re at someone asks you and you don’t know, just say you don’t know Because you said this the past couple of weeks. When you have a market that’s not really being driven by fundamentals or technicals, when it’s being driven by what tweet comes out, it’s incredibly hard to invest. It’s tough for companies to invest. But you see this craziness that’s going on in the back and forth and it’s really nuts right now. It’s tough when companies are not really offering guidance the massive uncertainty you got to move plans, the tariff nonsense. Now we’ve seen video come out. I mean it’s been pretty crazy, very, very crazy over the past week.

0:01:29 – Daniel Creech

Yeah, absolutely. I mean, this is the new normal and it’s okay. You got to remember be cool, Frank. President Trump said be cool, be cool, man, you can be. You know you’re not crazy. Markets are crazy, tweets are crazy. It’s okay to be crazy. Just don’t be insane.

And listen this, this kind of sucks, because a lot of it is. There’s good, uh, welcome criticism here, because a lot of this is self-inflicted. Now you have two camps on this. Frank, If you’re a Trump administration person, you’re going to say well, we really didn’t have a choice, because a lot of his cabinet members have said this Listen, we got to a point where Treasury Secretary Besadis said this Listen, I joined and wanted to join the Trump administration because, like many people, hey, this is the beginning of the end, we’re getting over our skis.

Here’s this is the beginning of the end. We’re getting over our skis here as a country. Debt, blah, blah, blah. We got to change this. So, in essence, they’re saying we really don’t have a choice, Frank. We got to reorganize this world trade because we’re losing empire status. The other side to that is hey, we were going along just fine and now you’re rocking the boat. You meaning President Trump and his tariffs and trade war policies.

So this is self-inflicted in a lot of ways and that is aggravating. It sucks. That is the new normal for a while and we’ve talked about what gets us out of this is legislation, it’s more clarity around trade deals and such. But as frustrating as Frank and I, it’s humbling to be so transparent and be like, yeah, you don’t know what’s going to happen and anybody telling you, oh well, here’s what’s going to happen, I think you ought to be very, very skeptical because, again, unless they’re talking to somebody who’s just about to send the tweet, you really don’t know.

Take NVIDIA, for example. The media is portraying NVIDIA as donating a million dollars and having this. Jensen had a meal with President Trump, so there’s got to be some insider deals going on, and now it’s a huge shock that NVIDIA is going to have to get a license, just like everybody else, to export trips. So you know you can’t trust Trump. That’s the message. Oh, you have dinner with him, you donate and then he stabs you in the back. The point is is that nobody knows what’s going on, and it’s okay to admit that this, too, shall pass, but we just have to hunker down and be transparent about that.

0:03:18 – Frank Curzio

Yeah, you talk about a video of NVIDIA surprisingly and this was last night took a $5.5 billion charge and is associated with H20 chip. As these new laws are restricting the selling of certain AI chips to China and you need certain licenses and it’s funny because AMD is also taking a charge as well that stock’s getting hit. I’m sure you can see a lot of chips in the chip sector. It’s a surprise. What I’m wondering is it’s a license and they’re not even filing for license, so it must be something that they can’t even file for. The stock’s getting hit on this, because it was a surprise, and I have a few thoughts on this.

Daniel, I’m going to tell you something. The tariff news right now is significantly, significantly, significantly impacting growth, and I applaud Trump’s effort to try and lower the deficit. I get it. I understand where terrorists who want to bring more manufacturing, more jobs back to the US, I get it and I understand what you’re trying to do. But here’s the deal Now. You know this and don’t be freaking stubborn about it, because your execution on this has been atrocious. You can’t do this to every country at the same time. It’s impossible. I mean, if you look at Doge, right, and everyone just kind of agrees with Doge, right? Listen, this is money that we’re paying excess money with no idea where it’s fucking going for. We want to know, right, where’s it going and you’re saving this money. But you talk about saving this money through Doge and it’s going to increase150, $200 billion, but it’s being offset right now by the increase in interest rates, because our debt is $35 trillion. And if you’re looking at, say, 50 basis points, where it was 4% and now it’s 4.5%, because interest rates are actually going higher, since he announced this, they were going lower and you notice how quick Trump was bragging about it like, oh, interest rates are going lower, this is great and the Fed should cut as well and be better. Well, interest rates started rising up and if you take a 50 basis point, move higher from 4% to 4.5% on that $35 trillion debt, it’s $150 billion. So it’s a watch.

But, more to the point, there are hundreds of variables that are impossible to predict with a blanket tariff on every single country. And if you want to look at the examples, they’re starting to come out. I mean, Nvidia’s charged, amd charged. Is Broadcom going to announce the same thing. Huawei’s a major winner here. They’re the only one that’s going to be able to sell chips that are halfway good to China. Think about the amount of money.

Chinese commerce giants. Okay, and one of our friends who’s great, great at research sent us a lot of notes. Sent us this note and it was a tweet. I wish I can quote him, Daniel, I think he sent it to you as well. But if you’re looking at Chinese commerce giants, you look at Temu Shein, tiktok, Ali Express. The amount of money that they spend on Facebook, instagram and Google is insane. If they pull that, better, facebook, instagram and Google is insane. If they pull that, meta and Google are going to get hammered, because that risk is definitely not being priced into the market right now.

You look at Apple’s exposure to China, which Trump won. He had to roll back. He’s rolling back some of these tariffs because Apple’s earnings were literally 30% of their earnings were at risk. Were at risk. So what did he do? He rolled back a lot of this stuff and said okay, let me roll back on. It doesn’t include iPads and iPhones, right Exempt or whatever you know. And now you have China saying we’re no longer going to export rare earth metals which go into almost every single electronic product. So, and that’s just China, China, it’s just China.

So look at the oil market. How do you plan for CapEx if you’re an oil company? If you’re looking at you know, and these guys like globally, I mean they hit like a trillion in CapEx. I mean it’s insane with the amount of money they spend in CapEx. Right To find new oil. Oil cracked $80 in January, it’s now 60, right, it’s having a decent day today. Okay, dollar it’s up, that’s a decent day for oil, yay, oil’s up.

But you look at a company like Boeing. I went to Boeing’s plant in Everest, Washington. It was one of the most fascinating things you have to go. So it’s a big assembly line. It’s huge, it’s a big building. It’s bigger than Singapore, it’s bigger than Disney World. It’s unbelievable. They have a fire department in there. It’s something that you have to see. It’s an unbelievable, unbelievable tour. And you assembly line think of 747, assembly lines, right. So there’s six, seven, eight of these planes inside the building getting worked on like a big assembly line, like a car, and you could actually see the amount of parts that go into every single plane through each stage when you’re there, and I know you think you can imagine how many parts go into a plane. But I’m going to ask you to guess, Daniel. So a 747, how many parts do you think go into making a 747?

0:07:42 – Daniel Creech

I’m the worst person in the world. I can’t even picture a 747. Just throw out a number 3,000.

0:07:47 – Frank Curzio

3,000. You’re close, oh, 6 million 6 million parts.

0:07:55 – Daniel Creech

Everybody out there is going. What an idiot Guessing 3,000.

0:07:58 – Frank Curzio

6 million. You were close and I want you to guess because I would have said probably a half a million really, because only because I saw the actual plan and you see these stages of companies that have to that during each stage of what has to get put on each airplane, I mean fasteners, windows, flaps, seats, rugs, you know massive amount of electronic components, every single thing. Now imagine you’re Boeing right six million freaking parts and you have to renegotiate or find other makers of those parts on a one month to two month notice, because Trump did this last 2018, and he didn’t follow through. And that’s why GM and Ford got caught off guard because they were going to open new plants and close them. When he did this 2000,.

What was it during his last term? And then Biden got in and Biden was like, no, it’s okay, you can manufacture in here, which is fine. That was his policy. And they expanded in Mexico, they expanded in Canada. Now they’re like holy shit, now they’re caught off sides and I don’t know if you noticed, but for GM it costs four. What is it? Four billion, I believe Four billion dollars and four years, something to that effect. Four billion dollars and four years to build a new plant. How do you do that? And yes, they have excess capacity and stuff, but they’re running around doing this because this decision was made on a month or two month notice. He talked about it, he talked about tariffs, but not on every single country at the same fucking time.

So when you look at Trump, he’s got to dial this stuff back because companies, the companies I’m talking to the companies that you see they’re even saying in the conference calls they have no idea what’s going on. They have no idea. I mean, I’m an analyst. I have no idea what’s going on. Because the numbers, or where you’re trying to cut costs and save in these tariffs, when you’re looking at the numbers, even of what you’re doing, it doesn’t make sense on a macro view because interest rates are going higher and the only way to stop this is by getting interest rates lower and by growing the economy. That, by getting interest rates lower and by growing the economy, that’s how you stop this. That’s how you lower your deficits, not by just cutting because the interest rate is too freaking high in this shit. It’s over a trillion. So I’m looking at this strategy and everyone’s looking at the numbers and saying it doesn’t make sense. We understand what you’re trying to do, but it obviously doesn’t make sense and it’s creating tons of uncertainty and a lot of cracks in the foundation and it’s resulting in you backtracking and saying, okay, this tariff is good here, not here, maybe we’ll go to autos, maybe we’ll do semis, and everyone’s all over the place.

Now, Nvidia, what they did is they took a very, very big charge. That’s a very big charge, right, 5.5 billion. It kind of feels like a new century financial moment to me, Daniel, so new century financial. If you forgot, it was the first mortgage lender to go bankrupt, which was April 2007. I’m not saying NVIDIA’s going bankrupt. I’m saying that the writing is on the wall, that it’s affecting the biggest company in the world and a lot of other companies are talking about it as well Walmart, the biggest ones You’re going to see Tesla talk about it. Everyone’s talking about it. They’re removing their guidance right now.

Okay, this was April 2007. The writing was, writing was on the wall and everyone was like, ah, the mortgage market’s. Okay, april 2007 was really early, the markets were still going up then. Okay, then we realized towards the end of 2007, 2008,. And then, all of a sudden, you had the Lehman’s, the Washington Mutuals, the CountryWise and shit like that.

But you’re seeing companies talk about this and Trump’s advisors have to see this. If they don’t see it, just fucking talk to the CEOs of major corporations. And I think that’s what Tim Cook did. He met with Trump and said look, we’re going to get annihilated here. We’re the biggest company in the world based on market. We’re going to get annihilated here because 30% of our earnings are at risk and just we don’t really know how serious you are or what to do right now. And that’s why Trump basically dialed back some of those tariffs related to iPhones and iPads, because he’s talking to different companies.

He can’t be stubborn on this and the only solution to lowering the deficits is strong growth, not the only solution. There’s two solutions Strong growth coupled with lower rates. Rates are higher than when you first started this tariff stuff and now you’re crushing growth and nobody is going to invest in a market where there’s zero transparency. And there’s zero transparency right now. Gm’s earnings could probably swing between 30, 40%, Apple’s earnings between 20 and 30% because of the tariffs, because they have to move factories. It makes these companies uninvestable.

And when I’m looking at what Trump’s doing right now, what you’re seeing, you have to dial some of this back because it’s getting ridiculous. You’re hurting the market. You’re crushing growth. Everyone’s forecasting recessions now. Gdp numbers are down. China’s GDPs are all below 5%. They need it above 5%. It’s below 5%, which is basically a recession for them. You’re seeing it across the board. It’s going to get a lot worse unless you solve this and say okay, let’s figure out a solution. Hopefully, do it sooner rather than later, but right now this is not working. It’s just. I get why he’s doing it. I understand it. The execution has been horrible. You’re all over the place. Nobody knows what you’re doing and it’s destroying the stock market right now. It’s really making it uninvestable.

0:12:35 – Daniel Creech

I mean it’s that simple. I’m not disagreeing with you, but I have this. This is a perfect segue to a conversation that I was wanting to have with you perfect segue to a conversation that I was wanting to have with you. I’m not pushing back on anything you’ve said about chaos and uncertainty and all that kind of stuff. What I want to ask the viewers to think about, and also you, is if the people in charge Trump Bessent his team, they do think they’re winning. They’re either lying and manipulating us and not being honest. But here’s why I say this, because that’s it. I understand that politicians are always going to spin it in their direction, and Trump is one of the best. I get that.

However, Scott Bessent was on Bloomberg or did an interview with Bloomberg from Bornis RAs a couple of days ago, and he said some really telling things. And they continue and again, I’m not taking sides here, but to your point, they have to they continue to act like this is all going according to plan, and Bessett even said one thing and I’m paraphrasing here. I don’t have the transcript in front of me, but the interviewer was giving him basically saying listen, this is just chaos and you guys aren’t doing anything correctly. And Besset said listen, I think it’s smart to negotiate by not telling the world on national TV how you’re going to negotiate. And he basically gave everybody the middle finger like, hey, you want to complain about? Oh, we don’t know what’s going on and how can you do this. He is basically being cool. Again, I’m not trying to agree or disagree, I’m simply saying, because it shocked me as well, he’s saying listen, you know we’re doing this, this is going great. And again, I’m sure there’s some heated moments and all that kind of stuff in the back.

0:14:08 – Frank Curzio

Do you think it’s going great when you look at the stock market and you look at these companies for the first time since COVID, removing guidance, saying we don’t know what the fuck’s going on. So when I look at that and I see that, do you think it’s going great? Because, I mean, the politicians are always going to say, no matter what it’s going great.

0:14:23 – Daniel Creech

There’s a big difference. Do I think it’s going great? No, not necessarily. Do I think that they think it’s going great? Yes, I really do. I don’t think.

And another thing Besset said in this the interviewer was calling him out. And again, this is all of our fault and I’m to blame at this as well for Daniel Creech, because I live in the same world as everybody else. I want instant gratification and all that kind of stuff, but Bessett is telling people listen, you can’t. So he is giving us a roadmap. He told us to look at the 10 year, but in that interview with Bloomberg he called him out and said listen, everybody a week or two ago was excited to say Bessett got what he wanted the 10 years down to three, nine, he said. Then last Last week it went to 4, 4, 4, 5. Now everybody’s complaining, although it did happen that when it went to 4, 5, trump pulled back all of his tariffs. So there is a reason there. And they do have to protect the bond market. Listen, the safe all being is, if you’re so scared to sell everything, here’s why you shouldn’t, because the game is fixed, people, at some point the Fed or the Treasury will step in and bail out everybody and give the market a big Florida bear hug and make sure everything’s okay. More on that in a moment, because I’m not just ranting there, but back to do.

I think Bessa is doing well, because right now, Frank, they’ve painted themselves into a little bit of a corner, but the bar is set very high. How do you not come out with a deal, whether it’s Japan, uk, whoever the first deal is with being made? How do you not come out with a blockbuster deal, or must you? Because, in my opinion, the media is going to grab whatever deal you get. If you come out as a Trump administration and say, hey, listen, we got this deal with Japan. Here it is, everybody and their brother is going to pick it apart and say this is the worst deal. This is the beginning of the end.

All these trade deals are going to happen like this and boom, you’re going to get just negativity upon negativity. That’s my guess. I just think that they have painted themselves into a little bit of a corner, but they do have a blank slate. I mean, it’s incredible what you can negotiate, and the aggravating thing for me is we get stuck, and I’m guilty of this too. The media gets stuck in. Any change is negative and bad in the end of the world. Oh, you can’t renegotiate the World Trade Organization. You can’t do this. You know what you can’t. We literally live in a world where we print money out of thin air, buy bonds and send it around the world. Don’t act like we can’t do crazy shit, people. We live in the world of Willy Wonka and Wizard of Oz.

0:16:34 – Frank Curzio

Okay. So here’s the deal. I agree with you. It is rigged where we’re going to see a solution to this. It’s just a matter of when we’re going to see a solution. And I think if you look at one year out, it makes a lot of sense. And I covered the catalyst, huge catalyst. We’re going to see lower interest rates. We’re going to see the Fed cut. Inflation is going down across the board. The data is there. No matter what anyone says, everyone, inflation’s going to go higher.

If you look at the data, even the CPI, the stuff that’s coming down in pricing is unbelievable. They said tariffs are going to lead to higher pricing. Not necessarily. That’s whether or not consumer. You’re assuming consumers are going to have to pay those high prices. If it’s for consumer staples, they have to do it. If it’s for electricity, they have to do it. When it was $50 a couple of years ago, we’re done. We’re done right.

So when I look at GM, the problem here, Daniel, I think, is you didn’t have to do with every country at the same time, because it’s impossible to negotiate this shit, especially when you’re the United States of America. I get it. Hey, we’re number one. We’re going to force all these countries to do it. But when you’re looking on a level of investments, of CapEx spending, of how these companies operate, take GM and again, we told you to avoid the oil companies almost a year ago. Right, it was a good call for us. There was a lot more going on in the hood. So I don’t like GM. I don’t really like Ford, the way they operate. But I can tell you GM, if you’re operating GM, you remember how the hell? Because now you’re saying, okay, one country at a time, okay, great, what happens if you just did, if you’re just going to Mexico and Canada first and then you go to China and then you go to Japan, right, instead of doing them all at the same time, you’re going to have different deals with different countries. Now, if you’re GM, you have plans in so many of these countries. You sell to the China market, you sell to Asian markets, you sell all over the world and you manufacture in several countries. So every deal is different for them and it’s not going to. So if they solve with, say, china, just say, which is not going to happen, it’s going to be last to solve. If they get a deal with China, with tariffs, gm still is not too sure what to do because of where their plants are in other places like Mexico and Canada. So you know if you’re doing it one at a time, it’s differently. If you’re doing them all at the same time. You’re not going to have deals at the same time, so it makes it impossible for these companies to invest.

Now you’re looking at NVIDIA, one of the largest, best companies in the world, one of the bellwethers of the world. The global markets took a charge that nobody was expecting, and let’s talk about that impact for NVIDIA. Because, for NVIDIA, because we’re talking about H20 chips, which are NVIDIA’s old chips From 2022, they’re also dialed down to provide less power, because that’s the deal, in order for them to sell to China. Then they came out with the H200 chip in 2023, and then the B100 Blackwell in 2024, and the B200. So this chip, the H20, by the way, if AMD bought all these chips because NVIDIA is taking the charge on them and saying we can’t sell them to China If they bought them, this would probably be AMD’s best chip and it’s like you know, they’re like three, four generations after this. I mean, that’s how far behind the competition is of Nvidia, which, essentially, they have no competition for the best chips.

The bigger point here is this product is an incredibly high margin product for Nvidia and it’s also a chip used to power DeepSeek, which may have something to do with this as well. So not only is this going to lead to this charge of a 20% decline in earnings for the quarter and a 13% decline in data center revenue, which is very, very big. That’s a big hit by itself. Okay, people say, well, it’s a one-off. Okay, it’s a one-off, it might might not be a one-off, they might have to come up with another charge. I’ll tell you that in a minute.

But the margins for this product, Daniel, are 71% and the consensus for next quarter for their margins are 71%. Now every analyst has revised them to under 60%. Now why is that significant? Because if you look at NVIDIA’s last quarter, what happened, the one negative of that quarter? They said margins were light and Johnson came out and said listen, they’re going to be light in the first half, but second half they’re going to be back over 70. And after today’s announcement, which was last night’s announcement of this charge, that puts that margin forecast at risk and that is not priced into the stock. So, while no one’s downgrading NVIDIA today, every single one of these analysts, every single one that I’ve seen. I read about seven or eight reports I think there’s 30 or 40 that cover them, but I read the largest. They’re all lowering their estimates and many of them are lowering their price targets.

So the uncertainty here that this is creating is, when I look at this, is this going to hurt margins in the second half of the year? Because you told me and Justin said, hey, margins are going to be a lot higher in the second half of the year. Because you told me and just said, hey, your margin is going to be a lot higher the second half of the year. Is that the case now? Is this going to hurt that? Also, this charge is 5.5 billion. It’s only 5.5 billion. It’s a massive charge. I say only because china placed 16 billion dollars worth of orders for Nvidia’s h20 chips in Q1 2025, which Nvidia can no longer deliver. So either the margins are huge in this product because they’re taking a $5.5 billion charge right, and they were going to sell them for $16 billion or they may have to take an additional charge next quarter, which is definitely not factored into the price, and maybe NVIDIA is able to sell these $16 billion worth of chips right to age 20, to US-based companies, not the hyperscalers. This chip is shit to them. They’re like three, four generations paying for the greatest chips ever which we covered. Why they have to continue to spend? Because they’re competing against each other and they could lose a trillion dollar valuation, some of these guys. So they have to continue to be first and second covetous in my ai newsletter. I don’t know if you know this, guys, but if you look at the large language model which is the uh, they have a leaderboard which is awesome. It’s two over two million developers that that vote for the best models.

I mean, a lot of people didn’t see Google’s next conference, which was last week. It was so under the radar and it’s usually that cloud conference, but it was all AI. Their new model of Gemini 2.5 is now number one. Six months ago I would have said they’re in huge trouble. Now they’re number one and you know who’s not on that list. Claude’s not on this list from Anthropic. You had ChatGPT on that list. You have Grok on the list, but Lama Meta’s not on that list. That’s how often they change these models and how advanced that they’re getting. They have to continue to spend to be up there or they’re going to risk all their business, all their marketing, all the advertising dollars going to another platform, which could result in a $500 billion to a trillion dollar market cap hits. Why are they going to continue to spend the major ones, but these other chips? Let’s see if they sell them.

But the point is, this charge from tariffs creates more uncertainty and it’s creating uncertainty for one of the biggest companies in the world, the biggest bellwethers, not just in the US, again globally. And now you have this uncertainty. Are they going to make that margin number which he said they’re going to be over 70%, because that’s what hurt the stock last quarter? Are they going to lower that margin estimate? Because, if they do, Nvidia isn’t really the strong buy that we’ve been talking about, and that’s something that we change right, because the data is changing. So it’s just the uncertainty from the tariffs are just killing it one by one. When you know what’s killing Apple, when you and they don’t know what’s going on. When you know what’s killing Nvidia, they don’t know what’s going on. Those are two large companies in the world. What do you think it’s going to be doing to every other company? And that’s what’s going on right now, which is why this is significant news and why Nvidia is getting hammered there’s no other way to put it.

0:23:38 – Daniel Creech

I mean, that’s just a great way to the short version of all that would be hey, right now we are in a period of just crazy fog, uncertainty, clear as mud type deal.

0:23:47 – Frank Curzio

And that leads us to United Airlines.

0:23:49 – Daniel Creech

So United.

0:23:49 – Frank Curzio

Airlines. It was up nicely today and it might be downloaded, but it’s outperforming the airlines significantly because they reported earnings and their earnings were really good, so they reported those earnings yesterday, still up 3%, okay. And now, if you’re looking at what they did, is everyone’s expecting that they’re not going to offer guidance. A lot of companies aren’t going to offer guidance and we’re going to see in the next three weeks. A ton of companies are going to report. You have the Teslas, defense companies, insurance companies. We’re going to see hundreds and hundreds of companies from the S&P 500 report next week and the week after and it’s curious because what are they going to say? Because they don’t know what’s going on. Even Trump doesn’t know what’s going on. That’s why he’s reversing a lot of this stuff that he said, because he’s like holy shit, I didn’t see all these impacts. There’s just hundreds of variables when you’re doing all countries at the same time with tariffs.

But here’s what United did. They did something that I’ve didn’t see it. I covered Daniel and I cover earnings. I cover earnings for decades. They offered two sets of guidance and I wanted to see, Daniel, what you thought about that, because offering two sets of guidance, I mean it seems like that’s not a good idea. I mean, what are your thoughts on it? Because Wall Street really likes it.

0:24:56 – Daniel Creech

I thought it was brilliant. This is before. In fact, I laughed out loud when I saw your tweet. I didn’t even read your whole tweet because I didn’t want to steal your thunder, but I was. I couldn’t wait to talk to you about this. I think it’s brilliant.

Number one, Frank not only do they not pull guidance, they give not one, but two sets of guidance and A. This goes back to I don’t know if it was last week or the week before on our podcast that you had a good rant about giving Wall Street what they want, and one of the best people or CEOs of that is Elon Musk and how going into different earnings calls and this is dating ourselves a couple of years back, when the shorts were really head on and going crazy over, and Elon Musk just went to an earnings call and just you know, basically an order boom, boom, boom. Knocked everything out of the park about uncertainty. Boom, boom, boom. Knocked everything out of the park about uncertainty Relating to this. This is hilarious because we were just talking. If you’re a management team, you have no reason to put out any guidance and you’re going to get a pass. So to see them buck. The trend is fantastic.

Number two and the big takeaway. I hope everybody takes a giant deep breath and relaxes. Smoke a joint and relax. Have an adult beverage, drink water if you’re the healthy type, whatever you need to do. The idea that they can give guidance, Frank and say if we are in a, the R word recession you’re not supposed to be able to say it but I did.

If we even go into a recession. A they’re still going to be profitable. Frank, $7 to $9. If you were to ask your regular guy sitting at a bar and say, hey, you know they’re going to make $11 to $12 to $13-ish during good times, what do you think they pull in a recession? They’re going to lose $10 billion. Everybody jumps off the cliff or whatever.

So, a I think I love how they went around and bucked the trend and gave two guidance. B I didn’t dig through it. I want to. I want to see what the management says, because this intrigues me.

But really I think the takeaway for everybody should say listen, recessions are not the Florida end of the world, people. Yes, they suck. It’s no big deal. I’m not saying hey, we should all welcome it. I’m not trying to brush over this or make light of it, especially if you lose your job. I’ve been in the stressful situation before. I’m not brushing over this. I’m simply saying it’s not the end of the world.

And when you have a company out here going, hey, you know, be really good, $1,150 to $1,350 a share in good times right now. But if we hit a recession, we’re still going to be profitable. That’s a major takeaway and also, Frank, leading up to right now, I’ll hand it back to you. But I love this because they gave the guidance. But, as of right now, bookings are still strong Coming into the quarter. So the end of the first quarter and then we’re already through the best airline in the world. We’re going to continue charging $15 for a water and you’re going to smile. And the next day they came out and said hey, you know what. Everybody’s changed their mind. They’re not flying from fucking Europe anymore.

0:27:33 – Frank Curzio

I’d say whoever’s idea for this to offer two sets of guidance on the management team and I don’t know if it’s CFO or someone on that staff needs gigantic rates. I’ll tell you why. So they reported solid earnings, as expected, but the guidance right, so almost impossible to give. So management said okay, here’s two sets right. Like you said, one’s going to be for a stable environment, the other one’s going to be for a recessionary environment. So the economy’s stable expects to earn $11.50 to $13.50 in 2025. If it’s a recessionary environment, the company said they’re going to earn between $7 and $9. So, in other words, if United comes out and does not offer guidance and says we’re pulling guidance from an analyst perspective and those analysts drive stock price right of what they believe the estimates are going to be, and whether you make them or not, it’s going to drive the stock price even further to see if you’re growing or not. If they don’t offer guidance, consensus earnings for 2025 from the analysts are going to be between $7 on the low end and $13.50 on the high end, which is freaking insane. So that means United Airlines can be trading anywhere from nine times forward earnings to five times forward earnings and that might seem like a very cheap stock to you, but airlines usually trade around six seven times earnings. You know autos also trade in single digits, so you can’t really compare this to the S&P. The industry just trades like that. That’s the way the industry is. So nine times and five times, I mean you’re almost seeing a massive gap. That’s like trading 10 times or 20 times. Right, you’re seeing this massive gap where you’re making the stock totally uninvestable if you pull guidance because you have no idea what’s going to go.

Now, by offering two sets of guidance based on non-recessionary environment, the stock’s going to trade more in line with the economy, meaning I can invest in United now instead of not investing in it, not knowing and waiting until next quarter to see. Now I know this company is more about the economy. The economy does good. These guys are really going to excel and kick ass. So what happened today? We had strong retail sales. If we see more data come out next month or next couple of weeks, right Now you could say, okay, the economy doesn’t look like it’s falling to recession.

United is a buy here. It allows investors to come in and buy the company based on the economy. It would have been tough to go into that name because you don’t know where the earnings are, because they pull guidance. You don’t know how terrible it’s going to be if it’s going to be good. By offering two sets, you’re basically saying, listen, if Trump removes this tariff bullshit, we’re going to do pretty well. Okay, and if not, we’re not going to do well. But here’s the two outcomes Okay, it’s going to be based and they’re pushing this saying it’s going to be based on what the administration does Right, cause that’s what’s going to force us into a recession or not. And I love what they did here, cause it makes it makes you an investor.

Have transparency. Where I could buy this name, where I could not buy this name as an analyst or someone that covers numbers, as a fundamental analyst. If they remove guidance, how do you go in and tell your clients, hey, you got to buy United Airlines right now Because, say, if they report $2 in earnings, it’s your? I mean, you know how drastic that could be, but they pull guidance. It could be anything right. So now that they offer this and saying, okay, if the economy is good, we’re going to be fine, it allows you to come and invest, I’d be surprised.

I know a lot of companies already have their conference calls set. There’s a million things that go behind them. They force these companies to report every quarter, which is massive lawyer fees, massive things. I mean it’s so easy to manipulate the earnings based on the revenue you’re generating, which quarter you want to put. In this way, you make the estimates, but I could tell you the companies that may report maybe not next week, the week after I could see them saying the same thing, because the more transparency you have, the more you could say, the better it is.

Saying nothing is the worst thing you could do. They didn’t say nothing. They said here it’s either going to be this or this, based on the economy, basically based on this tariff shit, and I really love what they did here Because it makes the company investable. And yet you could track the economy, you could track tariffs and say, okay, this company is going to get hurt because of it, instead of saying I have no idea what’s going on. I thought that was brilliant by then. I really thought it was a brilliant strategy.

0:31:20 – Daniel Creech

Yeah, I did. I had the same thought when I saw the two. I thought, man, that’s cool and good to see it for holding the gains, I mean nothing is guaranteed.

0:31:31 – Frank Curzio

Listen, you could have strong earnings and that’s great. It’s the future, that’s the guidance that drives the stock price after earnings. You could blow out the numbers, but if you offer a guidance that’s below estimates, your stocks can get hit. They don’t care about three months ago. They care about what they believe is going to happen in the future, and the more information you could provide on that, the more certainty you could provide, the more investors you’re going to see come in.

This is how much we’re growing. This is what our margins are going to be. This is the first time you’re seeing cracks in that uncertainty. Where are you really going to meet that margin requirement, since one of your highest margin products, which is basically a shitty chip that China had to buy because they have really no access? Yes, they’re trying to build their own chips and everything, but if they were really good at it, they wouldn’t be buying an H20 that’s dialed down. That’s really dialed down to the point where it doesn’t have as much power. But you know, it is interesting to see if they’ll make that margin requirement. Another company I want to mention today, Daniel, is Palantir. Have you seen what Palantir is trading?

0:32:25 – Daniel Creech

Frank, why do you put me on the spot like that? You see that?

0:32:27 – Frank Curzio

No, I mean, this is a company we did very well on. We still have it. Don’t talk like that.

0:32:31 – Daniel Creech

I know I shouldn’t say that we still have it in CRA, which is why I look bad if I don’t know where it’s trading right now. No, no, no, it’s in the 80s. Tell me it’s higher, it’s 96.

0:32:39 – Frank Curzio

Oh, that’s good. 96. It went to 120 briefly, but 96. This is a company I mean we put in a portfolio. How long ago, holy cow, months ago, I mean we put it, we’re in at 25 in.

CRA. I mean we’re up a ton on this stock and everyone was. You know. You hear all these people go on CNBC and talk about how Palantir is so expensive Price of sales, you’re crazy buying. And I’m like, look, I get it. I look at numbers, I fucking get them. I know the numbers. Okay, I get them. For 30 years years ago and I made the biggest mistake in the world because I said the same thing. This company is crazy. Tesla said the same thing. You’re nuts buying this company. I didn’t understand it.

Palantir offers services that almost no one else could offer in AI. They just sold an AI military system to NATO and you look at the deals that these guys do. It’s incredible because they’re like the holy grail. I mean, it’s AI applications. Ai provides services to companies that no one else could offer yet and that makes its total addressable market, which is the biggest thing you should look at as stock. How big is that total addressable market? Because their total addressable market people are saying it’s $100 billion, $200 billion. I think it’s more like a trillion dollars Because they could offer services to companies like the NATO contract. I mean Palantir is going to offer these large language models for generative and machine learning. Okay, fine, it’s a couple of companies that could do that, but it’s going to enhance intelligence fusion, targeting, increase battle space awareness and planning and accelerate decision making. Okay, there’s not a system out there that can offer this shit, yet they could come in and almost immediately. Here it is. This is what we’re going to do for you right away. Okay, that’s why you see the largest companies sign contracts with them.

The oil business alone is $200 billion opportunity for this company. So I mean, this is Tesla. Back in 2016, when everyone thought the company was too expensive and they never looked at Tesla’s total addressable market, because they figured it in and said, okay, EVs are going to be this big market, but what do they factor in? They factor in all the legacy providers in that as well. They didn’t factor in. The legacy providers cannot compete with Tesla. That’s why all their operations are overseas. They can’t compete. They don’t have the margins, they don’t have the technology, just like nobody could really compete with Netflix. Same thing, right? And that industry. There’s certain companies that do a great job, that know how to operate in an industry that’s very difficult, others that can’t. And when I’m looking at this company and their total addressable market and the fact that, even like Tesla, the legacy, their total addressable market was so much bigger than everyone was talking about in 2016, 17, 18.

The same thing is for Palantir. So I know you’re looking at valuations going holy shit. This company has a $200 billion market cap. That could easily be a trillion dollar market cap, be one of the biggest companies because of the service. It’s why you have the biggest cloud providers.

I mean, look at their competition. Who’s their competition with Palantir? Ibm, really, snowflake, are you kidding me? Splunk, right. I mean, Amazon and Google provide the cloud opportunity, right, but they don’t provide those services, which is why they’re partnered with Palantir, right. So you know, often their clients those kinds of service along with Palantir, right? This way, they’re using their cloud service on top of Palantir’s AI platform.

So you know I’m looking at competitors. I laugh because they’re not even in the same ballpark. Same with Netflix. You got to stop looking at that. This is a company that was $74 two weeks ago. It’s 95 today. By the way, Netflix is also pushing $1,000, going near its all-time high. Here You’re seeing companies break out that are getting it done, which is really cool even in this uncertain environment, and Palantir is one of them.

Netflix is another. There’s certain companies that are working here not all of them, but these are two companies that are absolutely incredible. But that news with NATO and you constantly see them signing new contracts I know you want to look at that price of sales and go you’re nuts, it’s going to crash. I heard the same shit and I get it wrong all the time. We didn’t get Palantir wrong because we learned our lesson.

Please don’t be stubborn when it comes to investing okay, because you’re going to think something’s right, you’re going to have so much conviction and it’s going to punch you in the face. It happens all the time. I don’t care who you are investing. I don’t care if you’re Buffett to be right. Learn from your mistakes. We learn from our mistakes.

I learned from my mistakes of not investing in Netflix early. I had Netflix for my mom for 400. Tesla as well. I missed, but I learned why I missed them when Palantir came up. We didn’t miss it for our subscribers. We didn’t miss it for everyone. Daniel didn’t miss it because we looked at it a different way.

Sometimes you have to look at it a different way With this company. If you look at it a different way, they’re providing services that no one else can provide, that everyone is in dire need of, because it saves them a shitload of money, increases productivity dramatically and that’s what every company in the world is looking for. They all want to increase profits, right, and you do that by lowering your expenses and you’re also going to have that kind of growth. That’s what this company is able to offer almost every single major company in the world through their AI systems. I think growth is I mean growth’s off the charts for this name. It really is off the charts for this name and I’m glad to see it go back up. We have in a portfolio of people doing well, but just they’re going to continue to sign these big contracts Continue.

0:37:25 – Daniel Creech

Yeah, absolutely, I will say, Frank. I finished Alex Karp, CEO of Palantir and founder. I finished his book Technological Republic. You’ve heard of that. It’s fairly new. He’s a polarizing figure. I’m not trying to convince you of anything. I have friends and stuff that say they’d never touched the stock because of him. Again, I’m not trying to convince you of anything, I’m just telling you to think it is an interesting book. It gives some insight into that.

Yeah, we took half of it off at 125 in CRA. We still got the other half letting it ride. This will be a stock I think you should enter back in. But that’s the good thing not taking a victory lap here, just saying listen when you stick to your guns, when you find a good one that gives you optionality investing that’s what you’re looking for overall, Frank, can I talk quickly about the Bessette interview on? I don’t want to leave people hanging. I did say that somebody would step in and save the market, so I want to talk about that just for a moment.

So one other thing that Bessette said in this interview with Bloomberg that I want to make sure everybody listens to and again, I’m not saying this as a funny ha ha, this isn’t painful or I’m just brushing over any losses or any pain that we’re taking as well. Again, this is transparency here Bessette was talking about with this interview on, and she was asking hey, how often do you talk to the Fed? And everybody’s trying to paint everybody into a corner about. Listen, is the Fed really independent? No, they’re not, but they contend. You know that because you listen here and we tell you the truth. The media and the Fed and all them tell you yeah, we’re independent. Frank, did you know that, and this is a good thing. I’m not bashing this but did you know that Treasury Secretary Scott Bessett and Federal Reserve Chairman Jerome Powell break bread every week together? Cool, that’s good, you want to keep in, you know? Okay? So Bessett says yes, we have breakfast every week and you know, federal Reserve Chair Powell has not mentioned anything of any stress or anything.

And the interviewer was asking Bessett and said listen, is the Fed going to step in and start cutting rates? Everybody’s wanting them to cut rates. Remember, we already reported to you last time the Fed made a big tip of the hat to the market and slowing the pace of their bond roll off. That is providing better liquidity to markets. That is a pro liquidity, more easing thing than not. And what Besset said during this interview was he was downplaying. Hey, nothing to see here, they all have to do that. But then Besset said we have a big toolkit at the treasury and he mentioned a couple of things that they could do, Frank. And what he did say was they do off run buybacks and, without getting into the weeds, what you need to know here is that they are buying back some of the treasury bonds, taking them out of circulation. What that means is that’s easing, that’s providing financial liquidity, no-transcript.

But Bessett is out there saying listen, you know everything is going fine here. He literally just told you if things get too crazy, the Treasury market will step in to ease rates. Watch the four year. If the four year hovers around four or five, four point five for any length of time Because best even said do not look a week at a time, do not take any one number Trump is going to celebrate every number. He can, blame every number he can on somebody else.

Treasury Secretary is a little bit more refined. My point is is that if the 10-year stays at 4.5 or higher for any matter of time, say two weeks, the Treasury will step in and make an announcement and give everybody a hug Again. I think the Fed will step in and do quantitative easing before rate cuts. I could be dead wrong on that. The market will take either one rate cuts or QE as a positive and I think markets will surge.

The million-dollar question here, Frank, is how low do we go until either the Treasury or the Fed steps in? We can use our recent bottom as a tradable bottom. I’ll hand it back over to you here, Frank, because I want your opinion on any of these if they get your attention. However, Bessent hinted that tariffs were at an all-time high if you don’t retaliate back on April 2nd, which is proven to be true. Now they’re getting easier, according to these trade deals. He did say that any advice take the tariffs as one piece of the big puzzle. So you have tariffs right now, you have taxes coming, tax cuts and then deregulation. But, Frank, he then went out and said the VIX has peaked in his opinion at 60.

I want your opinion on that and so my point last day, sorry is the tradable bottom, the recent low we just had. I’m not saying that holds, but you want to keep that in your short-term memory bank because you want to look if we cross those lows and where the 10-year yield goes. That’s going to force Besset’s hand and he just told you he’s willing to bail you out. So don’t panic and think the world is ending.

0:42:07 – Frank Curzio

Yeah, the VIX thing that he came out and said is remarkable.

0:42:10 – Daniel Creech

That kicks you off guard too it’s shocking.

0:42:12 – Frank Curzio

Think about. So what you’re saying is there was just shit going on that was very serious under the hood, that we knew about that. That’s why we switched our policy in tariffs a little bit right. Just you know, make sure that we ease the markets. That’s why they went up 14% in a freaking day. And for him to say that, meaning that he’s very aware of what’s going on at the table in the bond market or what’s going on with these companies, but saying that it peaked is you’re saying that the market’s bottom is in. That’s what you’re saying. The bottom is in for the market and for you, in his position, you’re not really supposed to freaking say that, which leads to the fact that you have to play this exactly how Daniel’s been saying that they’re going to push everything they can If they have to announce more stimuluses, if they’re going to force the Fed to cut somehow, even though it’s independent. It’s what Trump did last time. He forced them to cut. But it’s amazing for him to say that the market has bottomed, because that’s what you say when the VIX has peaked at 60. And just saying that was in his position, government position.

It caught me off guard too, and I agree with you For him to say that it’s showing that, hey, we’re going to do everything we can to prop up this market. But again you have this uncertainty, which is hard If you’re going to invest and look a year out. There’s just so many catalysts Again lower interest rates, lower taxes, money given back to individuals through Doge, which is not a stimulus package. You see more jobs in America, america more strong, going to have more favorable tariff deals, less regulation, less red tape around all the shit that we need to build infrastructure, lng plants. I mean there’s positives that look great a year from now. It’s just this uncertainty is really crazy and you got to be careful because you don’t want to crush markets here, especially with the shit that was going on in the bond market like a week, week and a half ago. Yeah, I’m glad you brought that up. It definitely caught me some eye.

0:44:01 – Daniel Creech

And last thing on the bond market. The other thing that shocked me, Frank, was the interviewer and I apologize, I’m not trying to disrespect her, I can’t remember her name, but she was saying hey, who’s dumping U? And Bessett again shocked me, just like he said with the VIX comment. He said listen, this just looks like somebody got over their skis. He basically said some hedge fund blew up and we’re not going to bail them out. Because he also commented and Frank, you’ll know this better than me not being a smartass here, just being with age the capital management bailout in the long-term capital management. Bessett mentioned and said Long-term capital manager, long-term capital manager. Bessett mentioned and said you know what? I can remember exactly where I was standing when all those smart guys in Greenwich, connecticut, got in. It’s like oh.

0:44:40 – Frank Curzio

Yeah, he knew it, he knows it, he knows it. I mean, he’s from that game, he is the guy.

0:44:49 – Daniel Creech

And as Frank jokes about stealing the shoes, which I love how he says that Bessett, for the last 30 years, was on the other end when he had the opportunity to push that hedge fund and break them, guess what?

0:44:57 – Frank Curzio

He was doing it. He’ll break it. That guy’s crazy.

0:44:59 – Daniel Creech

He’s the guy that now that’s the nature of the game. I’m not saying it’s anything negative against him personally, but oh how the shoe turns. Frank fits on the other foot. This guy was literally the guy that would bankrupt your hedge fund if he could, and now he’s just simply laughing going. I’ve seen this before. And screw that guy, yeah.

0:45:15 – Frank Curzio

If this guy was treasury secretary in 2008, early 2008, he would have funded the banks immediately, like probably six months before, because this guy knows exactly what’s going on. He knows exactly. He would have known about the AIG exposure. He would have known everything. How much is really leveraged? 30, 40, 50 to one, including subprime assets. I mean this guy is dialed in. He 40, 50 to one, including subprime assets. I mean this guy is dialed in. He knows all the biggest people around there again, and you know the main partner at Soros fund when you know was the Sterling one of the greatest trades ever, broke the bank. So this guy knows what he’s doing. So for him to say that, hey, 60 is a top of the market and bottom it’s.

0:45:51 – Daniel Creech

I just I appreciated how he called out and just said, no, it’s basically somebody getting blown up and that’s a bummer. I mean not not gloating, just saying, hey, that’s what I think happening.

0:45:58 – Frank Curzio

And I’ll be honest with you when it comes to Trump, I think it’s Besset. Besset is the one like Trump is relying on him, like this isn’t. Like, like you know, he’s Trump’s policies, yeah, but Trump is very smart to follow his lead and not be stubborn and be like no, no, no, no, don’t do that to this guy, because this guy knows what’s going on. He does, he does, whether you like him or not, he knows what’s going on, and I was just surprised to that too. So, um, I want to say the last thing here. Uh, I talked about this a little bit, but, uh, so for Curzio one, if you’re a curio One member, we have another great private placement deal for you. I mentioned this probably a month ago because we were doing the Sugarfina deal, which we closed out of, which is great. So many people came into Curzio One, invested in it. I’m so happy for it. I’m an investor, one of my largest investments. I’m also investing in this one as well. This is another great private placement deal. Again, I’ll offer three or four a year. Sometimes I’ll offer one a year. Right, I could offer you 75 a year, because everybody wants to raise money, but I’m very careful where I’m putting my money. I don’t get paid by these companies, so I vet them. I’m investing my Curzio One. Members get to invest alongside me. So this deal?

It’s a male oral contraceptive drug called YCT. It’s not an ER pill, which there’s dozens of them and hundreds of them if you believe the advertisements on Instagram and TikTok but there’s currently no birth control option available for men right now other than a vasectomy, and there’s been tons of attempts to solve this problem with pills and injections, but all of them included those previous attempts included hormones and it was a disaster for men since some of them started showing breasts. Other side effects they’re like no way I’m going to take this. Yct is a non-hormonal, it’s an oral pill. It’s 100% reversible. I mean you could take it and then stop taking it and a couple weeks later you’re fine. You can go back at it if you’re trying to have kids. So instead of getting that full-on vasectomy right which is crazy by the $30 billion market, now you can take a pill, because I got to tell you that scares the shit out of some guys. It does and they say it is reversible and stuff but a $30 billion market that this could penetrate, where you don’t have to go to surgery where you can just take a pill and stop taking it.

So its early phase one trials were fantastic, which is why one of the best early stage venture capitalists in the world His name is Steve Jurvetson, who invested early in Tesla, SpaceX, Skype, Baidu, Intermoven, tradex invested in his company. Don’t look at his history because he has a few problems with women sometimes, but let’s just say he’s very, very smart when it comes to his money, including the latest round he’s investing in. So he invested in his company already and he’s investing in this current round where Curzio Research is getting a $1 million allocation to this round, which I expect to go very, very quickly with our file. If you’re one member, you’re going to see my video tomorrow, maybe Friday. I’m going to try to get out by tomorrow with all the details.

Really, this is just a quick take on it. Please let me know right away if you’re in. You have to be accredited. It’s a $25,000 minimum investment. We’re coming at a $100 million valuation. I want you to put that in perspective. $100 million valuation, assuming that if these guys go through the right phase phase two, three, whatever and this is going to be enough money to fund them. Well, through phase two studies, that $100 million valuation assuming they’re going to do $10, $15 million in sales. This drug gets approved, it’s going to generate $1 billion in sales the first 18 months, probably over $3 to $5 billion over the next couple of years, which is only 50% market share of the vasectomy market. And that’s not even including people who don’t want a vasectomy, who basically want to use this because the women’s version of this pill has horrible side effects Horrible Varicose veins, horrible, horrible side effects.

When it comes to birth control pills, this idea comes from one of our best sources, which is Paul Cullow. Paul Cullow’s doctor is amazing. My investors have had some amazing success with him investing in his venture fund right off the bat probably about four years ago, five years ago which is ranked in the 0.5% of all not biotech all global VC funds. We have access to that. I’m invested in that fund, a lot of investors and this investor. We also invest in a lot of these companies that we’re funding, which we came into this company through that fund at a $25 million valuation. Now they have good results. Now they’re funding at a $100 million valuation. We’re coming in at that as well, right, so we’re getting into these things even earlier.

And that’s what you do for Curzio One and Paul’s investing big into this round, also taking a seat on the board for YCT, which I love because you want to make sure you have someone that knows what they’re talking about, that has a CEO’s ears, that’s telling them how to spend, how to push, knows what drives the market and, plus, he’s an investor right. So we all want to get paid on this thing. This is kind of like an all or none, not like sugar fiend. In other words, companies generating a lot of money in sales. Safety has been good. They’re going to come that probably throughout the year, and if they’re positive, this thing could get taken over. If they do actually go public, this thing is going to be massive. I think they’re going to see sales explode.

These guys have great technology, but if it doesn’t, this is their only drug. So it’s a high-risk, high-reward name, but the reward is definitely worth the risk because you’re going to get 10x, 20x, 30x on this thing if it works out. If not, you have to be available to lose that investment and that’s okay. So I’m letting people know up front. I’m very upfront with it, so I’m not investing a ton of this, but I am going to invest at the minimum of $25,000, maybe $50,000. But if you’re a credit investor interested in learning more about Curzio One, these are the deals that we’re markets.

This is how you make a lot of money, even through tokenization, which we have, and stuff like that. We’re one of the only companies that have tokenized our business, get direct equity stake in our company by buying our stock, our token, on the T0 platform, which now there’s great laws in place that are coming new SEC, and it’s a lot of fun right now with T0, but these private deals I’ve taken losses on hundreds of thousands of dollars of losses, but made millions of dollars, several millions of dollars, through these days. So it’s high risk, high reward. You want to try to lower your risk as much as possible. You want to deal with the people that have been there have done this already. That’s what we’re doing.

We’re getting amazing deals on our plate that we’re following and I’m really excited for sugar Fina. I’m excited for this deal. I’m excited for this deal. I’m excited for several deals that we’re in with Paul. Common Clinics is another one. Sfa is amazing for psoriasis Unbelievable. These are great ideas to be invested in because if you hit one or two of these things, it could be life-changing and it’s been for me.

So that’s what we offer. A lot of people on the industry don’t offer that. They don’t have that access again, it’s a higher membership, our elite membership. You get products, all services, products and services for free, forever. Or you can come in for a one-year trial period, which we just started offering. A lot of people took us up on that during the Sugarfina deal.

But if you’re interested, give me a shout. You can set up a one-on-one call with me. I talk to everyone before they come in. Make sure it’s right for you. But that’s our next deal. It’s going to be available. If you’re a Curzio member, it’s going to be available tomorrow or early Friday and, yeah, we’ll have it open for a couple of weeks. It’s only a million dollars.

So if you really like it, please do the research, do all the research, ask me as many questions as you want. You’re going to have direct access to Paul. Talk to him. They’re coming to the investment this one, which is not a lot for our list. So hopefully a lot of you can get in and I’ll spread it out. I’m not going to let someone take a million dollars or 500,000. I’ll spread out this way as many people as possible and Courageous One could get into this deal if they want, because it’s a high risk but super high reward deal, and these are the type of things that we offer for Courageous One. So I just wanted a great platform now and getting access to amazing, amazing deals, which is really cool. So, Daniel, when are you coming into these deals? When I’m an accredited?

0:53:19 – Daniel Creech

investor Frank, you are pretty soon. No, yeah, bring that up.

0:53:22 – Frank Curzio

Galaxy Digital just has to go up a little bit more.

0:53:24 – Daniel Creech

You know what was exciting? Mike Novogratz was on cnbc today and they didn’t even talk about may 9th getting the opportunity to list on a us exchange, which should be a done deal outside of some legality, and also the core weave deal. That is huge that they didn’t mention that, in my opinion.

0:53:42 – Frank Curzio

We’ll see how he had a lot of good things to say about the tariffs, which I liked just saying the uncertainty and how bitcoin right now, where you’re not seeing a lot of buyers because bitcoin is being seen and bitcoin’s held up well right 85, 86 000 as well as gold gold’s on fire we all know that, uh. But he was talking about how this used to trade more as hey, the hitting the fan type of thing with with deficits, but how it gets linked to risky assets is there’s not a lot of money coming in because you’re taking retail investors out with tariffs and massive uncertainties, like in institutions, they’re just starting to buy Bitcoin now I’ve seen Goldman Sachs, Wyoming’s pension fund. There’s a lot of these institutions that just started buying Bitcoin. Even a lot of strategic reserves are going to come out too. A lot of countries six, seven different countries, Germany and a lot of countries mentioned having their own strategic Bitcoin reserve, but a lot of this stuff is put on hold right now. And to solve the tariffs and he’s going over the math part of it too, where he said it didn’t really make sense, but the quicker we solve this an unwinding of 60, 70, 80 years, I think he said, of traditional globalization where, yes, the tariffs were unfair, but he said maybe 10% blanket across everyone, but just going different. He’s like there’s so much confusion here and no one can figure it out Economists, analysts, can’t figure it out like the numbers, because you’re just going back and forth but he had a lot of good things to say. If you get a chance, watch that interview, because I really liked it. I really liked the way he talked about Bitcoin, how it’s trading now and also, you know, and what he thinks of the tariffs we trump in. This is just one. That’s a pretty big headwind that we don’t know when it’s going to end, so it’s a little trouble right now. So, other than that, I think we’re pretty good.

We covered a lot, covered a lot of stocks, good names, names that we like. Going to be carefully watching earnings season guys. Please pay attention. Pay attention to all of our seen, uh, I mean twitter, holy cow. I mean we doubled our x, Frank x. We doubled, it’s true. Uh, yeah, the amount of followers on in the past month and a half. Uh, just getting tons of traction here starting to get a lot of traction on youtube, starting to get I mean we’ve been getting tons of traction on the podcast, more and more people listening.

Listen. We’re gonna say what’s on our minds. We have nobody that we have to serve or have an agenda towards. We’re going to tell you how it is. We love NVIDIA. I don’t really like NVIDIA right now because of the uncertainty. We’re going to switch. We’re not going to have no agenda here. We want to make you money. These are the things that we’re investing in as well.

I think people just want something that’s real. Help them out as much as we can, and it’s really truly remarkable to see the growth in our platforms, which is word of mouth through you guys. We’re starting to advertise a lot more, but the business is doing very, very well now. We’re very happy for that, because we’re starting to help a lot, a lot of people. That’s what we want to do. We really want to help a lot of people, especially 12 years outside of COVID in 2018.

But now, when the shit hits the fan, this is where you have to buckle up. Follow your stops. We stopped out of a couple of names. We’ve been wrong a little bit here and there. You have to come in and say okay, what are the names that are going to excel? Because Netflix is working, Palantir is working. You’re seeing some of these names work, some of them not.

Some uncertainty, meta, meta what’s going on with the justice department, which is an absolute joke, since they almost had his head on a platter when he took over instagram for a billion dollars in 2012. Now they’re like oh, you’re using it, now you have this monopoly. The justice department I swear to god. So backwards that organization. But now you know why. Dana White’s on his board and he talks to Trump all the time. I heard he made like a $450 million dollar settlement or something and they turned it down like a month or two ago. Nice Listen, you want to be on the side of politics. You can’t fault people for that, whether it’s Biden or whatever companies. You got to be on the side of the right politics because it can impact your business and it could impact meta to the point where, if they do split these and have to spin out WhatsApp and Instagram.

0:57:27 – Daniel Creech

It would be the easiest buy, buy.

0:57:29 – Frank Curzio

The biggest boom for that company. Holy shit, man Shares are going to go through the roof. They spin out those things. People are going to make so much money on it. So I mean, the Department of Justice doesn’t look at it like that, so they’re going to look at it as a win, but it’s going to probably make them even stronger and make them a lot more money and make investors more money. We’ll see you tomorrow on Wall Street Unplugged Premium. Take care, love this episode of Wall Street Unplugged. I think you’ll really love Wall Street Unplugged Premium. The Wall Street Unplugged Premium is my members-only podcast where I dive even deeper into this week’s events. Well, I’ll do even more than tell you what’s moving these markets. I’ll tell you specifically what moves you can make today. So this is going to be about trading. Put big money in your pocket right away due to the inconsistencies I see daily in the market.

I’m talking about specific investment ideas. I’m recommending and tracking each week that I believe will be impacted directly by everything I just talked about today. Plus, you’re going to get the chance to go even further down the rabbit hole with me and my co-host, who’s Daniel Creech, as we discuss which of these week’s trends could turn into massive windfalls. Could the big trends that we see lurking on the horizon also the news we’re picking up from our network of insiders, which has gotten bigger and bigger thanks to you and so many people listening to this podcast in over 100 countries, and you’ll get a chance to talk to me directly in my special Ask Me Anything Q&A session.

All that, and a lot more, like premium interviews with world leaders in finance, technology, industry and politics. This is all part of Wall Street Unplugged Premium, and becoming a member is super simple and super cheap. So head on over to WSUoffer.com to check it all out. Sign up today and you won’t miss a thing. That’s WSUoffer.com.

0:59:22 – Announcer

Wall Street Unplugged is produced by Curzio Research, one of the most respected financial media companies in the industry. The information presented on Wall Street Unplugged is the opinion of its host and guests. You should not base your investment decisions solely on this broadcast. Remember, it’s your money and your responsibility.