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0:00:02 – Announcement

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.

0:00:17 – Frank Curzio

What’s going on there? It’s January 15th. I’m Frank Curzio. This is theWall Street Unplugged podcast where I break down the headlines and tell you what’s really moving these markets. Daniel Creech joining me today. Daniel, what’s going on? How’s everything, buddy?

0:00:34 – Daniel Creech

Hello Frank. Good morning, sir, welcome back. Yeah, I got to see you last week via cameras.

0:00:41 – Frank Curzio

That was cool, though, right, that was cool. We did a little podcast there. It went halfway. Well, yeah, absolutely. I went to NVIDIA, right To the NVIDIA conference, which was insane. Comes out along that line. I’ve never seen a line that long to see someone to anything in my life. I mean, I didn’t even know the hotels were that big. I taped it for four minutes, I think I told you last week, four minutes walking, and I just stopped. I was like there’s no way. Yeah, it just kept going and going and going. But I don’t know what they were thinking.

I thought it was only available to media. So media is like four or five thousand people and this place holds 12 000, I figured. Okay, I’ll let more people in. I think anyone that attended the ces could go, and there must have been. They fill up the stadium. There must have been at least 25, 30 000 people outside that didn’t get in. They were probably pissed because they waited online for hours. So it was pretty crazy. But the CDS was cool. It’s long, you know, and they’re for a while, because it’s open to the public Wednesday, Thursday, Friday, but for my media badge, I can get there Sunday and Monday and Tuesday to do a lot of exclusives. You get to see a lot of products. I have meetings set up and stuff like that, so so overall it was pretty good. I’d rate it probably a B minus.

I thought it was going to be a lot better, but I can tell you, the AI theme, of course, was there and a lot of companies are still full of shit. Like you know, TVs, we’re going to use AI, every technology, your toothbrush is AI enabled. It’s like, yeah, everything’s AI. But if you look at the biggest companies, Daniel, none of them are there and Apple’s never there. And I think it’s so great with Apple because what they do is everyone. I feel like they’re just marketing their products for iPhones and things like that and they’re never there. That’s fine. Google has been there past couple of years.

They weren’t there. Nvidia, you know, Jetson did the keynote and then you know they really didn’t have a big presence in terms of booths. Usually they’re like two or three in different areas, because it’s automotive, it could be in gaming and just AI and stuff like that. It wasn’t that big for them. There were 4,000 companies there. Again, about 3,000 didn’t need to be there. They were selling like accessories. It’s become a little bit of. You weren’t allowed to sell things there. Now, when you go in certain areas because it’s separated by country sometimes and you go into areas of China, Korea, France, they’re just trying to sell you stuff all the time oh, you can buy this now, you can buy this now, discount, discount, discount. And it was never really like that. But when I look at the big companies like Microsoft, Apple, Google, Amazon, they weren’t there. Amazon was there from an automotive perspective, but not AI. Tesla wasn’t there, although you know you got to get to Tesla for the Hyperloop. Have you ever seen that? Do you see the Hyperloop?

0:03:08 – Daniel Creech

Is that the tunnels?

0:03:09 – Frank Curzio

The underground tunnel?

0:03:09 – Daniel Creech

yeah, I mean, I’ve seen a few things online, but I’ve not.

0:03:12 – Frank Curzio

I mean they’re opening up a lot now because now you can go from like it’s so big in the conference center, Las Vegas Convention Center, where you have the Central Hall, you have the North Hall and the South Hall, which is all kind of like you can walk back and forth to, but you have the West Hall and you take the Hyperloop there, so it’s a bunch of Tesla cars. You go down there and it takes you through this big tunnel and it’s awesome, it’s for free. You go there. But now they have a tunnel that goes to the Resorts Hotel and they said they’re building others that go to feel it. Did you ride in it? Yeah, I rode in it. Yeah, they’ve had it for a while for years.

0:03:49 – Daniel Creech

Oh, okay, cool.

0:03:58 – Frank Curzio

But it’s. I didn’t know they were expanding it, so they’re building all underground. That’s cool, and now it goes be staying there.

0:04:03 – Daniel Creech

I had no hot water for a day.

0:04:05 – Frank Curzio

How do you not have hot water for a day? But the logistics are always great because I could just get on the tram and it’s literally. I’m back from the CES in 10 minutes, opposed to two hours sometimes with these buses, because everyone’s leaving at the same time. It’s crazy. You can’t really get Ubers because you get thousands of people waiting for them. It’s a transportation factors in. All I need is a floor, but maybe I’ll need a little bit more than a floor because the Fleming was really letting itself go, so that was pretty shitty. But you know, overall, again, b minus the robots. I don’t know if you saw my Twitter account at Frank Curzio, you know I was talking to a robot. It’s questions. It was really cool.

I was testing out some exercise things and dancing. I look like an idiot a little bit. The exercise equipment is amazing. Some of the stuff that’s coming up with them Just without weights.

They have these bars and they always had the bands right, they always had that. But this went from 10 pounds for each band to 70, 80 pounds. I was trying to bench it. I couldn’t bench it at full max and I had one arm up but I couldn’t do the other one. I was like what the fuck? But um, yeah, you know which, which is amazing. Right, because you know if you’re working out. You got these weights all over the place. This is really cool.

Um, there was a smart scale. That was amazing. Measures waves of water in your body determine, like almost everything bmi, uh, but just different calculations in terms of how, healthiness of your heart and stuff like that, with a 98% accuracy. It was really cool. When you jumped on the scale, it gave me all these metrics and everything, and my body fat, I think when I was at the best I was, is 19% and I think I was 24% now. So you know I’m losing weight, but I got to start gaining muscles because I’m also losing muscle. But this was a pretty cool scale that you get on. It was like $22,000. It’s obviously, like you know, they’re selling it to brand new. It’s like the TVs a new generation of TVs, so the new generation. You’re not going to buy it for your house right.

0:05:55 – Daniel Creech

Did you not have the heart to tell them that that’s obsolete, because everybody’s just going to take a shot and a pill and lose weight. So who cares about the old? Well, I care about you don’t need nice scales when you’re going to look thin and fit and be wonderful from these magic pills and shots, Frank.

0:06:09 – Frank Curzio

For me I’m just telling you save your money For me-.

0:06:10 – Daniel Creech

No need to spend 22 grand.

0:06:13 – Frank Curzio

I don’t think anyone’s paying that for you know, but it’s almost like a TV. So TVs like you have in your house right now were like 30 grand, like three or four years ago, right and the new generation of tvs from lg were insane, like it’s a oled transparency, t, so ledt and you could see through them.

I mean you got to see the pictures I have amazing, and that didn’t even do it justice. Uh, Panasonic’s getting into tvs again, like tvs are a really big deal which is kind of like a commoditized product. I thought. But, um, samsung, did you see the samsung stretch tv? It’s like a 3D, the TV stretch.

0:06:46 – Daniel Creech

I saw the video on X you put up. Yeah.

0:06:48 – Frank Curzio

It stretches, it actually stretches. I thought that was pretty cool. You know, it’s like a 3D effect. What else did I see? I mean that scale was really cool and again, it’s just early technology. But, like you said, with the pills and everything, I lost weight. But I wanted to. You know, you want to see what your muscle mass is too, because that’s one of the biggest effects the negatives, right and one of the side effects is you lose a lot of muscle on these things as you’re losing weight and they say you got to work out. You got to work out because you’re losing muscle and when you have some of these things, so you know, I think people will be concerned about their muscle and see how they can measure their BMI and there’s different ways you can measure it. And it gave a lot more information. It was really cool. They gave me a whole data sheet and everything. It was really cool.

I was surprised. Netflix was there last year pumping up one of their movies and they weren’t there this year. So you were missing a lot of the big companies. Intel wasn’t there, gopro wasn’t there, irobot wasn’t there, although you had at at least 10 companies with the same product a lot cheaper. Remember I was telling you to avoid gopro going there for like 12 years. I was just like I’m seeing the same technology and that they’re charging 25 of the price out of china. Uh, same thing with the I robots, but now the I robot. It was really cool. I had this hand that comes out that actually if you have socks or whatever, and it takes a sock and I’ll put it in a basket, wherever the basket is, and then you know, then vacuum and clean the floor. And I was like what happens if you got a cat on the floor? But it knows if it’s a cat or how heavy it is or whatever. Oh, don’t worry, it peacefully kills the cat and continues cleaning.

Yeah, it chokes the cat. But the technology was amazing because even as it was going up, it didn’t have large steps, but they had like step up like probably about three inches and that thing that goes on the floor. Those roomers were able to, you know, hop up and go up to next levels and then come down on their own and then go to like their docking station. So that was really cool. Food tech was awesome. Uh, they had like ice cream and sherbet machines where you never have to clean them. So it’s almost like, uh, it’s almost like the K-Cups right for the Keurigs. So you get these cups and they have like 13 different flavors and you put in there and it makes you ice cream and everything. I thought that was cool, though you know it’s very expensive for those machines. I tried to sample it, but that shit was gone immediately.

0:08:56 – Daniel Creech

They’re like yeah, yeah, exactly.

0:09:02 – Frank Curzio

And also that food. Like you know, I hate when companies say patent pending, because it means you don’t have a patent, right, but they had one. And I know someone who’s a chef, who’s a good friend, who’s also a copywriter was telling me about, like Beef Wellington, how he cooks it. You got to cook it at different temperatures, right, and he cooks it at different temperatures, which is, you know, he’ll take it out when it’s cooked and he blasts it and he cooks. And he was telling me what? I know nothing about food. So if I sound like an idiot, you know when it comes to chef and cooking, so when he takes it out, he takes it out for a little while and it still cooks. It’s still hot, so he lets it cook and it doesn’t look like it’s going to cook but it’s cooking Right. So internally it’s still cooking.

I don type grill thing that’s able to cook chicken at different temperatures, and that’s important when you’re cooking a turkey, because you know you have you don’t want it dry as hell, frank, yeah. And if you cook it at the temperature they tell you it’s either the white meat’s going to suck you got the legs going to suck, the thighs going to suck, so you’re supposed to be cooking at different temperatures. Where the dark meat should be falling off the bone. It won’t. So I thought that was really cool in terms of technology, where it’s going, how you can cook different things at different temperatures and stuff and what else.

One of the most fascinating things for me it’s not something you can make money off of was a lot of health stuff, health-related stuff for handicapped people. And if you’re able to move a wheelchair, what they have is this whole bottom part of the system that attaches to you. It’s like a whole robot and you know the vest on or whatever, and you can control it and it stands up and allows you to walk. It’s very slow, but allows you to go different areas of the house. It was amazing and, uh, they have wheelchairs that you can go where they have sensors now that they’re not going to run into anything you can push into a wall won’t go into a wall, so it’s. You know. I guess it can map out through AI and stuff like that if you go into streets. But they had a lot of cool stuff when it came to. You know, on the health front, and one of the best things I saw for the first time ever, ever and then I’ll stop talking about the CS was the glasses. Every time I go to fucking see these glasses, every year, every year, and I went back. I just look at pictures from 2017 because, you know, in 2016 and going back just to see some of the things, and they had glasses then, right, it’s supposed to be these amazing glasses you put on, they’re supposed to look just like regular glasses.

Meta has a deal with Ray-Ban and was. Essilor is a publicly traded company. It’s not in the US and they don’t have an ADR, so you can’t trade in the US, but they you can probably buy international brokers. That’s a company I think is going to be fascinating because they have the partnership, they own Ray-Ban and they’re getting paid by Microsoft all the time, because that’s where they’re billing out these glasses, and when I tried on the glasses, they were really amazing.

Couple of years they didn’t. They never worked. They’re like they’re not working right now. You got to come back, so they have a little camera here and you press it on the corner of your of your glasses and it could take uh, 15, 30 second, a minute or three minute videos. And I took a video and then it automatically downloads to the app and meta has it where it’s like siri, where you talk to the glasses. So if you’re walking up to me, I’m like, okay, daniel, daniel creature’s walking to me, give me a scoop on him. And then Dale has the biggest Wikipedia page of how he’s a billionaire and how he’s great and everything Good looking, and he’ll say everything. Hey, dale, what’s going on? Two planes.

0:12:12 – Daniel Creech

How’s your Gulfstream?

0:12:13 – Frank Curzio

You’re a big Ohio State fan. Ohio State is favored by what eight.

0:12:17 – Daniel Creech

Yeah, I moved from nine and a half to eight. Damn Catholics.

0:12:20 – Frank Curzio

I got to ask you before I go to the last part of CES are you happy or upset when it comes to Ryan Day? Because to me it seems like a joke. But I am not a big fan. I am a Penn State fan and I take it to my grave and I tell everyone that I’ll live with the fact that we have the worst coach when it comes to big games. He’s 1-16. He’ll never win a big game in his life. I think he won one and that was like 10 years ago. He’s terrible, right franklin’s horrible when it comes to big games. He was our big game, although this game was his fault. This quarterback played like he was a third grader. Uh, they should have won that game against notre dame. It’s terrible. But I know your game is michigan, but would you rather lose to michigan and win the national title or beat michigan and lose a national title? Because it seems like you guys are more focused on, from what I talk to Ohio State fans they’d rather beat Michigan and lose the national title.

0:13:06 – Daniel Creech

And I think that’s insane. Yeah, overall, and it is insane, it doesn’t have to make sense. So you know, passion and sports and all that kind of stuff, it doesn’t have to make sense. That is the ultimate game, because you’re not going to realistically and I’m not trying to badmouth a great program who I’m a big fan of but realistically you can build dynasties and such like that, but you’re not going to play every single year for the national title. You might have a chance, but every single year you’re going to play your biggest rivalry. That’s why it gets up there and it’s so normal and it’s consistent. That’s the big deal. I will say obviously, if the guy wins a national championship, you got to give your hat to him and credit him there. However, if he doesn’t, after his record with that other team that you’ve already mentioned more than once, he’s got to be gone.

0:13:47 – Frank Curzio

So if he loses this game, you want to fire him.

0:13:48 – Daniel Creech

Oh, he ought to be fired before the fucking— Holy shit, he ought to be fired before the confetti hits the ground.

0:13:50 – Frank Curzio

I hope they fire him. I hope Penn State hires him. That’d be great. That would be great. Wow, that’s incredible.

0:13:59 – Daniel Creech

It’s just a mentality. This is not government. You don’t go in there without accountability and results when you say this is our job, these are our tactics. If you don’t get those done, you get fired. Now I’m not saying if he doesn’t win the national title he’s going to get fired. He won’t. That’s Daniel Creech saying what I would do if I ran him. But yeah, obviously if he wins this he’s, but he’s got to beat Michigan.

0:14:28 – Frank Curzio

I mean you’ve be michigan. I mean you got to do that. Man. Listen, hobo was on the same same, that same train. I mean, before he was on, I thought he was gonna get fired. I thought he did a terrible job in big games as well, and then he built. You know how I stayed, I think.

0:14:31 – Daniel Creech

But then he wanted a national title.

0:14:32 – Frank Curzio

National title and now he’s like a god right well, but yeah, because he’s a cheating bastard.

0:14:35 – Daniel Creech

And then he did what everybody else does and he hopped, skipped and jumped and screwed all over the kids. But that’s okay he’s.

0:14:40 – Frank Curzio

You’re cheating Bass and you’re going to hate him for life because he did beat your team. Was it four years in a row, like a drone, three years in a row? But this year and we’ll get off this topic this year Ohio State was supposed to blow out Michigan. Michigan did not have a good team this year. That was awful, and it was at Ohio State. So you know that. I think let’s move on Frank, ohio state winning by like three touchdowns. I mean, notre dame, notre dame couldn’t even beat penn state and their quarterback was horrible, um, and they barely won that game. But I just see, uh, ohio state’s just such a better team. So it’ll be interesting to see what happens.

But anyway, last point here, when it comes to isla, uh, luxottica. They own a company called nuance audio and this is a fascinating product that I try and these were glasses that it was like hearing aid, right. So they they have like little speakers right here where people don’t like wearing hearing aids, and I get it. I’m going to be there probably soon, you know, with these big things sticking out of ears and, by the way, they have amazing technology there for hearing aids. Every year it gets dramatically better. So please look at the latest technologies and hearing aids. I know a lot of them suck out there, but the ones that are coming out, they just get better. That’s one of the technologies at CS that get better and better. You always have like six, seven companies talking about it and it’s good that you have this many companies, because usually it results in these things getting cheaper and cheaper because there’s so much competition.

But with these glasses you put them on to the regular glasses, you can get them prescribed and go any way. So you have your regular glasses. They look like look at that person. It amplifies a signal. I didn’t know this when it comes to hearing. I just thought you could hear, you can’t hear or whatever, but there’s different levels, there’s different pitches, there’s different bass and sometimes you’re not picking up. And you could. You have an app where you could fix it to what you’re not hearing as well. And when you’re looking at them it’s a little robotic, but it amplified it when I was and he said go over here, look. So when I was looking at him and it was really freaking cool because I could hear it and I know that must be incredibly uncomfortable. You know doing that, my father-in-law too. He said it’s really really bad. He doesn’t like talking on the phone anymore and he’s trying to get better. You know it’s just a. You know it’s a serious problem as you get older. These things were really really cool. The glasses were nice, they have different colors and everything, and they’re going to get FDA approval for this, probably within the next month or two. They said they’ve been going through this process. Fda has been asking more information and they said they’re almost there.

That’s a publicly traded stock. It’s a little Luxottica. I couldn’t find a listing in the US. I don’t think it’s not an ADR. It doesn’t trade here.

But you may be robots everywhere, things going on, drones everywhere. It’s kind of like dialed down a little bit and I thought you were going to see a lot more AI, but we saw AI with LG TVs. Lg had a brilliant display. Their new TVs are incredible.

Again, the one that I have online, which is the transparent one, is 70 grand. No one’s going to pay for that, but it was unbelievable so you could see right through it. Then it has a big black screen that comes behind it and it’s just beautiful. You could put it anywhere, anywhere you want in your house, but the technology was really cool. I saw lots of innovations, lots of cool stuff. But, yeah, it just used to be a lot more fun, a lot more things to do there, a lot more cars it wasn’t as many cars Usually, you see, like these models from Mercedes and everything. It was really cool. You didn’t see too many of those. That used to be a big venue for them and they used to do before the Detroit Auto Show because you know you have 140,000 people going to this thing and everyone was like so crazy about the cars and I think they pushed the Detroit Auto Show back and said, okay, that that was like the big event for the cars, right, oh, wow yeah, so instead of the show.

But, um, john d had a great presence. Who’s the boat company? That’s awesome. That’s always there. Holy shit, brunswick, brunswick, you. I mean you had their display, they and they bring in, like john d brings in the actual, like the biggest tractors. I mean, you know, I walked up them and stuff like that. You see pictures of them. They bring in like their biggest boats and they had a sample where it’s a big screen and you’re like on a boat and you’re driving it and it’s almost like simulated, but it’s like the real boat is there, except it’s simulated and then you know you’re hitting the throttle and everything you’re going and it had like five different areas and holy shit, I was blown away by this it.

I just saw one area and it went to like, okay, if you’re hanging out and people are on the beach and you just want to park your boat, you don’t have to anchor it. You don’t have to anchor it. And, plus, it has sensors all around it and they’re assuming like okay, if you’re wearing sensors or whatever, so it detects that people around, if people are too close, it’ll automatically back up the boat or whatever. Uh, it’ll know exactly where you are the whole time. So it essentially just floats out there. It just floats out there, maintains it almost drives itself. And then the ai capabilities around it were just amazing of how, like it, you know you’d see the people around it and just it made it like so easy. I was like wow, this is incredible. And there’s like three other places you can go and I just you know it’s crowded and go there, but I was like at least it, you were looking at stuff, like wow, I’ve been in that environment before. Like you know, if you’re going away and you go to an area where everyone’s like in shallow water where you could see fish and stuff like that and just hanging out. You know you always got to be careful, but it was really cool. The technologies at Brunswick has been there for probably seven, eight years now and that’s a company that. But overall, b minus, sorry, go ahead. No B minus and it was pretty cool. It was a good show. It was definitely worth going Much, much better than last year.

But without the big companies there with AI and them talking specifically, you know again, everything’s really hidden in what they’re doing within AI. But I could tell you this, daniel I didn’t want to go there yet. I was going to go there later. One thing we’re going to talk about CPI. Cpi is big. The market’s surging. Today. We’re going to get to all issues so much to talk about because we got earnings bank earnings.

So these headlines fell under the radar. Microsoft, meta and Amazon all announced that they’re going to be cutting employees in 2025, probably early 2025. They made these announcements over the past couple of days and the way they made these announcements was we’re going to get rid of the underperforming employees. This is no coincidence. This is AI at its core. You don’t see companies and this is what you’ve been seeing with these big companies. Their stocks have been ramping higher. Yes, they pulled back a little bit off their highs. They still have tremendously over the past couple of years.

I think it’s a buying opportunity for many of these names. They’re using AI and AI bots, and what I heard from NVIDIA and Jensen Wong I think it was 30 million software engineers he said they better be using these AI bots. If they’re not, or AI agents. If they’re not, then your job is going to be obsolete, and you’re seeing it now. You have to pay attention because you want to learn this technology and you want to embrace it, because when you embrace it like we have an editor here, her name is Emily and she’s using AI for so much stuff and she’s embracing it and people are like AI is going to take your job. Instead, she’s using all these AI programs. She’s using all these AI programs. She’s getting things written for us right away all through AI programs, taking our content and exploring this stuff. We’re also exploring avatars now and you’re going to see us talking, where I just have to put in a script and it’s going to be me talking. This is what we’re doing at AI. Embrace it because these companies are laying off employees where the stock’s all-time highs or near them, when you don’t see that, and it’s because of AI and it’s because of AI and it’s going to be taking a lot of jobs. We’re almost there. We’re really almost there. I think 2025, especially second half you’re going to see it and embrace it.

There’s so much you can learn from these technologies. You can make a fortune off them if you really know this industry. I can’t even hire specialists in AI because it’s going to cost me three, four, 500 grand a year. I mean, these guys are such high demand and it’s still so early in this trend. Start learning it, because Microsoft spent $80 billion on AI alone. Amazon said they’re going to spend $100 billion on AI by next year. Just those two companies. We’re talking about numbers that are insane and these guys are generating cash flow. That’s where the money is going. There’s no coincidence that these guys are laying off employees and they’re seeing the benefits of AI and it’s under the radar. It’s not a big story today. It’s not a headline story because there’s so much going on, which we’ll get to in a minute, but that’s something that caught my attention. I just want to mention up front, which is pretty crazy.

0:22:35 – Daniel Creech

That’s cool. I knew you were going to want to talk about that. I thought the 5% from meta was interesting. Yeah, I have two quick things to talk about, frank, before we can move on. Number one is I got to give you some kudos because actually, brunswick stole the show for you. A couple of years ago we recommended that in CRA. The only reason we took a small loss about 10%, the only reason we sold out of that, was because you recommended that January or early February.

0:22:59 – Frank Curzio

We came back from CES right before that was the 2020 and we stopped out.

0:23:03 – Daniel Creech

We ended up selling that out because of COVID. Looking at a weekly chart, that’s near the bottom range. Check out Brunswick if you’re into that space. Two other ones, the GoPro and iRobot, have absolutely fallen off a Florida cliff. It’s been pain and agony. If you just avoided those because Frank’s boots on the ground’s research good deal, you saved from losing 87%. Those have been an just terribleness. And then finally, Frank, before we move on the most important thing, did you bet on 34 red, Like I asked you to?

0:23:31 – Frank Curzio

I didn’t, I didn’t, oh, but I didn’t tell you, do I?

0:23:35 – Daniel Creech

I get noticed. I’m like Rodney, you know what I’m an idiot, I totally.

0:23:37 – Frank Curzio

We were on record time I got to see. Yes, it was such a mess, I was such a hot mess, so a million things going on and plus I was a little sick. It was just my stomach, boss. I don’t need every excuse, I’m gonna throw okay but I will say this I found one day to gamble, all right at least, and I said I’m taking a thousand dollars and I don’t care if I lose it.

Right, and I went into like the high-end slots and then I said, okay, let me take out 300 and put on roulette and just bet. You know a couple of numbers. And I lost that straight.

0:24:07 – Daniel Creech

That’s even worse, you played roulette. I know and I totally forgot.

0:24:10 – Frank Curzio

That’s on me, that’s totally on me. I think 34 came out like six times in a row. If I remember correctly, I was like 34? Who the hell plays that?

0:24:19 – Daniel Creech

number. I wish Dan wouldn’t have told me to bet 33,. 34 keeps coming up every time. Yeah, I was like, because I didn’t hit.

0:24:24 – Frank Curzio

I think 34 actually did come out. I’m not even kidding, yeah that’s awesome, but I did hit a jackpot. I hit for $3,000.

0:24:31 – Daniel Creech

Wow, yeah, I couldn’t believe it, so you walked away a winner.

0:24:33 – Frank Curzio

Yeah, I walked away a winner. I walked away about 22, 2300. So, yeah, I hit that and I was cool. So on the slots, so it was a $10 slot that I played I said, okay, I’m going to play a little bit.

0:24:46 – Daniel Creech

Was it a.

0:24:46 – Frank Curzio

Wheel of Fortune slot no it wasn’t a Wheel of Fortune slot. It was like the one where the coyote comes out and blows like the houses down and stuff like that Three little pigs. No, it wasn’t that.

0:24:56 – Daniel Creech

I was huffing, whatever, something.

0:24:58 – Frank Curzio

I just like that. You’re like. You know it’s hard to get a beer. You get the free beers. Well, in Vegas it’s free beers In the casinos they kill you, but you’re right.

The service is very slow, but they had. And they had like these big chocolate chip cookies and they have like M&Ms and stuff. I was like what’s going on? And then I wanted to get a cigar because I won. I’m like, all right, I need a cigar. And they like come to this room, but his door comes out and it’s this whole cigar lounge.

0:25:23 – Daniel Creech

Oh, nice, beautiful, and the cigars are like $100 or more.

0:25:26 – Frank Curzio

I’m like. No, I need you know, I’m not like super cigar.

0:25:29 – Daniel Creech

No, no, I need the good stuff. No, no, no. I was like I need a $1,000 cigar, I just need a jackpot.

0:25:33 – Frank Curzio

I just need the good stuff.

0:25:34 – Daniel Creech

I like cigars, I like acid cigars 14 grand, I think it was in a Palazzo. I was like, yeah, this is a oh, that’s a little high end.

0:25:45 – Frank Curzio

Yeah, I was like no, I was like I just want like a, you know, a $10 cigar and anyway, but it was pretty cool, but yeah. So yeah, overall I did not bet 34.

0:25:55 – Daniel Creech

And I don’t know if you had anything else, what else were you going?

0:26:03 – Frank Curzio

to ask me. No, I was being that’s.

0:26:04 – Daniel Creech

I love the fact that you admitted you actually played roulette and didn’t even think I played roulette really quick.

0:26:08 – Frank Curzio

Oh yeah, I was just talking to Daniel about this, I think it was like and plus, the time changed too and I got there late because it was delays and stuff like that. Excuses yeah.

I’s get to which drive the market. Markets are screaming higher. Today At least they were. Who knows what they’ll finish down. They were up like it’s like risk on right.

We said CPI came out, it came in at 3.2%, which is better than 3.3% expectations, and you know what. That might seem like nothing to you, but this is why, when Dan and I we go over this stuff with you guys, we tell you that the expectations matter or the sentiment going into a quarter matter. So you’re looking at the banks going in and everyone if you’re on Twitter, it’s X platform or whatever it seems like everyone thinks the bank’s going to blow up. You’re dead, you’re in trouble. All this debt, all this off balance sheet, the liabilities and the options and the bonds are in the water so they got to be held to maturity or whatever All this shit. Everyone’s telling you the bank’s going to blow up. The banks came out and they blew out the numbers across the board, which makes all the sense of the world. I’ll tell you why in a minute. But the CPI what do we have? What’s been driving this market? The market’s been pushing lower because rates have been going higher and they’re like this is the first acting good and then comparing the different things. So we’re being driven. If you look at this chart, if you don’t believe it, we’re being driven by the 10-year. If you look at the 10-year just over the past month and I got a chart here I’ll show you if you’re watching this on YouTube just over the past month, if you look at it, where interest rates have gone, the 10-year has been shooting higher right, even though the Fed just lowered rates. And then we’re seeing inflation numbers come in a little bit stronger expected. The job number came in much better than expected. So it looks like we’re going to get this inflationary environment’s going to go higher, rates are going to go higher and when rates go higher, as that 10-year approach is 5%, there’s data showing like only like 5% to 7% of the time, like the. We’re, like you know, near 5% or above 5%. So we have this trend going higher.

We have a market and I really wanted to buy the markets today. I just didn’t get a chance to because I thought this number, even if it was in line, it was going to. You know the market’s going to spike because sentiment was so oversold. I mean, if you look at it technically, we are incredibly oversold. Expectations are rates are going to go higher. This just came in a little bit. Better the better.

So what happens is you see this reversal. If you’re looking at this chart here you’re seeing over the past month you know rates have gone higher and stocks have gone lower. So you’re looking at rates popping six and a half percent and while the market’s down, the market was down over here I think like actually we went up. This is before, this is like two days ago, before everything. So we have the 10 year up almost 10% over the past month, and then we have stocks down 3%, 4%, and now you see that reversing and now you see these lines getting together right, so it’s like an inverse relation. Now you’re seeing them get closer together because interest rates are coming down and now stocks are rallying.

So when this happens, it’s a risk on market. So it’s no surprise that you’re seeing, if you look on CNBC or wherever you find your quotes or whatever, the market’s kicking ass. But they are starting to sell off. They were up like 2.3% the Russell and NASDAQ and now they’re up like 1.7, 1.6 each. The Dow is up 700, it’s up 544, but you’re seeing the Russell surge. You’re seeing a lot of risk on like quantum stocks go through the roof after they sold off tremendously the back and forth with jets and comments.

0:29:23 – Daniel Creech

Normal day is 30% plus or minus.

0:29:25 – Frank Curzio

I know you think crypto is volatile. It’s quantum stocks Holy shit, it’s crazy. And then you have you know, and then, of course, you have Bitcoin. Right, bitcoin’s on fire and you know almost back to 100,000 now. And look, bitcoin, the dynamics are there.

I’ve been doing a lot of research on this, especially since Trump won. I think people do not understand the dynamics of Bitcoin and how much higher it’s going to go from here. And, just like we said, we predicted this. You can go back to 2017, 18, 19, 20, 21, as we would talk about Bitcoin. But especially, we did a live event recently, dale and I and these are free events and we do a Q&A afterwards and we did a couple of crypto events and we’re telling you, listen, you have to invest in underlying cryptos. And next, 100, 150 that were researched, because these are really good names Because Bitcoin was going over 100,000.

We said that when it was at 50, 60, 70, 80, all the way up, and I said I don’t know, it could be a year or two, whatever happened a little bit sooner than I thought, but we’re probably going to hit 150 this year. I think it’s going to be one of the best performing sectors, but you’re not going to be a millionaire by buying Bitcoin here. You could, if you hold it for like five years. That’s different, but a lot of the money has been made in Bitcoin. I know a lot of people that made money in Bitcoin. I’ve made money in Bitcoin. Even Ethereum has been up and down and stuff like that. But I’m talking about, like the next hundred cryptos because of the new administration that’s coming in. That’s going to be crypto friendly. It about the next 100 cryptos because of the new administration that’s coming in. That’s going to be crypto friendly. It’s going to disrupt the banking industry Incredible. I’m going to go over why that’s such a big deal with some of these numbers in the banks in a little while.

But we are going to have another free event. This is a crypto event. It’s going to be on Thursday, january 23rd at 7 pm. Anyone could attend. It’s free. You just got to put your email in there. At the end, we’ll have a special offer for our crypto newsletter. If you want, we’re going to give away a couple of free picks. It’s usually how we do it and almost everyone in our crypto newsletters come in through this event and we try to do it with the best timing. Right now.

A lot of these names sold off over the past month, probably up higher today, but I believe you’re going to see 3x, 5x, 7x gains on a lot of these and it sounds crazy but we’ve had 20x, 30x, even 40x winners that we’ve seen during these bull markets. This is very common in this industry. If you look at the top 200 cryptos, almost all of them have had this type of run that you’ve seen 10x plus on them and you don’t really see that in the markets. Because they IPO at these crazy valuations, they do so through SPACs and reverse mergers and shit like that. So you know a lot of the growth’s already taken place because the valuation is in the billions when it IPOs for the first time that average investors mom and pop investors could buy it. So the events called Becoming a Crypto Millionaire in 2025, which I honestly really believe that that could happen, because you’re going to see some of these things really take off because there’s a framework.

The technologies are incredibly disruptive, but nobody wanted to put money into them, especially institutions, because you had Gensler there who just did an interview An exit interview, whatever he’s on CNBC, and this guy’s an asshole, right, he’s been against crypto. He’s been doing everything he can to shut down his fucking industry politically, and now that’s gone. And the technologies that these companies offer in terms of you know, you don’t have to pay fees, it’s faster transactions, it’s safer because it’s on the blockchain, you say, well, sometimes it gets hacked. It gets hacked if you lose your keys. It gets hacked on bridges and stuff like that. It doesn’t get hacked on the blockchain. Now, no longer you need bridges. With new technologies like Chainlink and stuff like that.

Names are in our portfolio that are up, I think, probably like 200%. There’s a lot of underlying technology that you’re going to see. You’re starting to see it now. We just recommended a new company in that newsletter, a new crypto where it’s gotten funded by Bain Capital. They raised $100 million in September. It’s brand new technology that I think is going to be a game changer. You’re going to see a lot of money come into this industry to fund a lot of these companies. It’s going to be really, really cool and it gives investors a chance.

It’s risky, it’s speculative money, but the risk reward you’ll never find a better risk reward in any industry than crypto and I’ve made a ton of money in crypto because of this and I’ve seen things come down, but I’ve done it the right way. Don’t put your whole portfolio in it. But in this event, I’m going to break down a couple of events that you’re going to see Bitcoin surge to 200,000. No problem, I think it could happen 18 months and two years, maybe sooner, even if it happens three years. As Bitcoin goes high, you’re going to see more adoption for all the underlying cryptos, all the underlying technologies. These are basically software companies and you’re going to see a ton of money flow into these. It’s not going to be billions, it could be trillions.

I mean you’re looking at a market where BlackRock’s, like 2%, should be going into this market. Everyone should have 2% of their portfolio in it. I mean, they have 11 and a half trillion in assets, okay, you’re talking about. If you took out like the whole hundred trillion, it’s a hundred trillion assets. That’s what the market’s supposed to be in terms of wealth assets and the management for wealth advisors is going to be 100 billion the next five years. I mean, if you look at 2%, it’s 2 trillion. Okay, so at 2%, they’re saying that should be a Bitcoin allocation, bitcoin’s allocation. Right now, I think the total market cap is like 1.8 trillion. So you’re looking at double the amount coming into this market. If you had a 2% allocation, which isn’t that big, even if it’s a 1%, you could see that’s just one small reason on the macro side that you’re going to see Bitcoin continue to go higher and higher and higher, and it’s going to result in a lot of these online technologies doing great.

And I got to tell you we’re having this event new administration. We’re going to share two ideas with you Q&A, which is really cool, and it’s really live. So Daniel’s answering questions. We have fun. Again, I tell everyone the could fall on me and you guys can make fun of me. It’s really live. A lot of these people, almost everyone in the industry, says it’s a live event. It’s taped. We’re not taped, we’re live and I like doing it live. I like having fun and free to ask any question you want. We’ll give you the link I’ll send it out to the top 100, top 200 cryptos and those are the ones that are in our newsletter right now Crypto Intelligence. So if you want to attend that event, it’s a free January 23rd 7pm. You’ll get an email from us because a lot of you are already on our list, but it’s going to be really cool. Again, it’s absolutely free, so definitely, you know. Mark your calendar the 23rd, 7 pm next Thursday, that’s right Be there.

Be there, be there. So where do you want to go, daniel? You know what out. Sometimes it’s like, okay, well, we don’t want to talk when you have earnings season, all this shit going on. Cpi the PPI was recent right. That came in better than expected too right, yeah, yeah, the inflation data.

0:35:58 – Daniel Creech

Just quickly here on this. I’m not trying to rain on this parade and, like you said, the markets have gone bonkers, which is great to see, and I want everybody to make money. However, inflation is nowhere near the Fed target. Okay, it’s still going up by. Let me see all items rose 2.9% in December and that was after rising 2.7%. Now this is not stripping out food and energy, like they’d like to do at the core, I’m just talking broadly here. So inflation went from 2.7 in November to 2.9 in December. That’s increasing Now one month. Let’s not get crazy. I’m simply saying it’s good to see the relief.

As Frank talked about, sentiment was one-sided. This is a relief rally. We’ll see if it holds. But don’t take this data and think, hey, we’re back to six months ago and the Fed’s going to be there and easing and all that. I think they do come in eventually, but it’s just hard to believe that there’s not a lot of unnervingness and a lot of pain. Just expect this choppiness.

And I got to give kudos to the best bankster on Wall Street, jamie Dimon. He was on the conference call today. I only heard tidbits and looked at bullet points. I haven’t listened to it yet, but he’s. I give him credit because he’s been consistent.

Frank Jamie Dimon has been like hey, I’m worried about stagflation. I think inflation is going to linger around and continue to be higher or linger around and we’re going to have a little slowing pace. He’s done a very good job. He’s done the best job, in my opinion, at setting up Wall Street. I mean, I can’t remember the last time it’s been at least a year and I could be wrong. I’m just going off memory here, but it’s been at least a year four quarters where all I can remember from Jamie Dimon is him saying hey, net interest income is going to keep going down, brace yourselves, we’re going to take a big hit. We’re not going to keep doing all this Florida stock’s at an all-time high.

I believe he set the expectations correctly. He’s the best bankster. No doubt they have the wind at their backs with the way they pay out nothing and charge higher rates. But his points that he’s been consistent on is hey, I expect inflation to kind of stick around, do what it’s doing, and that’s exactly right. So while I’m excited and I want to see green and people making money, don’t think that we’re back to oh, we’re not back to the euphoria of hey, trump got elected, now everything’s okay. I know a lot of people are thinking that, in terms of just business friendly, it’s not going to be smooth sailing. So I don’t want to rain on the parade, but I do want to make sure everybody’s grounded and you shouldn’t be just constantly buying hand over fist right here on this nice uptick, frank. Okay.

0:38:15 – Frank Curzio

I’m going to take a different take on this, okay, and I’m going to be real with you. I think that’s why a lot of people listen to this podcast. It’s not marketable when you’re real, because people love conspiracy theories. The market’s going to fucking crash. The banks are done. They’re done. They’re going to run out of money. The dollar’s going to lose its reserve currency status again.

Since the 70s, I’ve been hearing that story. Well, I’ve been hearing that. I didn’t really pay attention because I was born in 1972. But the 80s and 90s, about the banks, okay, jamie diamond has done a great job setting expectations, telling you that, hey, you know, things aren’t that good. The economy’s not that good. This is not that good, this is not that good. And they just reported the greatest numbers that they’ve ever reported the history of the fucking company, right. So, and if you want to know how big jp morgan is because you have the four banks, that are monsters, right, but jp morgan is in a class by itself. If you’re looking at revenue, wells, far.

Wells Fargo City also reported. City reported around $20 billion in sales. Wells reported $20, $21 billion in sales. You know what sales were for JP Morgan For the quarter $43 billion. Okay, they’re double the size of the next competitor. All right, think about that in terms of sales. I mean, it’s like Microsoft’s at $6 billion and Apple’s at $. You know three billion, right, three trillion. You know, in terms of market cap, it’s so.

If you look at these three banks, bank of america reports tomorrow, if you take the three banks that reported jp morgan 43 billion, wells 20 billion, 21 billion, city group 20 billion and bank of america reports tomorrow expectations of 25 billion in revenue, that’s 108 billion in revenue for the four largest banks for the quarter, for the fucking quarter. Think about that for a minute, okay. And you’re like well, it’s going to end, it’s going to be horrible. It’s the charge-offs, everything. Okay, well, I’m a data guy, I like to look at data, right then, that’s where it tells me. That’s why we’ve been to ai for a while and it was like I was gonna crash the last two years when you’re looking at the data.

And, by the way, for the banks out there, for all you guys that enjoyed this moat from politicians where you’re untouchable, to the point where New York Community Bank got to over $100 billion in sales and was growing. I got punished for it and almost went bankrupt because it got over $100 billion in sales, which raised their capital ratios, which resulted in them having to increase those capital ratios, which comes right off the bottom line, and it shows that they’re having losses right and their earnings didn’t meet. And people get worried and say, holy shit, what’s wrong with New York Community Bank? And it’s like a run on a bank. As you’re selling the stock and as those people are removing their assets, they have to keep up with those ratios and when you’re over a hundred billion, your ratios increase and they got to a hundred billion because they got free assets from the government. I think it was Silvergate. You get punished in this industry for growing. It’s the only industry in the world that you get punished for growing.

Those days are over because now you have crypto and when you’re looking at crypto and you’re looking at tokenization in the real estate market I can’t tell you how many people have called me and I have starting funds with tokenization real estate. Why would you do that? Because you have equity in your home. So you have equity in your home. You could tokenize your home. If you have a million dollar home, you have 700,000 equity. All right, you could refinance, but it’s going to be at higher rates.

Why are banks charging such high rates for great customers? Why are credit cards these assholes charging 26% for good customers, right? I mean, it shouldn’t be 26%. You could charge 15% and now they had no competition. Banks, capital One. Now you’re going to have the competition in crypto because there’s going to be a framework around these companies where you could transfer money back and forth.

I wire money all the time. They charge me to wire money. What’s JP Morgan’s rate? You know what their rate is, that they’re paying on that savings account. How do they get away with it? I mean, it’s like 0.1% maybe. I mean, how are you getting away with that when you can put your money in international brokers and get 4.5% right now? So when you’re looking at the banks, why did they do so? Good, because over the past year the Fed was supposed to lower rates and before that they were generating so much money off of fees and going crazy because they didn’t really generate a lot of net interest income because rates were low. Now, when they’re higher, they earn the spread between that and now. Jb Diamond did a great job and a lot of these other CEOs from Wells Fargo and Citigroup said the same thing. We expect that number to come down. It’s going to come down. It’s going to come down. And what happened? Rates are staying high for longer and now the Fed’s probably going to stop raising rates of profits that they weren’t expected that continue to pour into this company. I mean so much so that sales are growing double digits for these guys.

And you’re looking at net interest income and Jamie Dimon was forecasting that this was going to go down for the last four quarters, not four months, four quarters because we thought interest rates everyone thought interest rates were going to go a lot lower. The Fed was supposed to lower what? Like six, seven times. They didn’t even get close to that. Jpmorgan generated generated 90 billion in net interest income for the quarter. So jp morgan have q4 highlights up here 23 and a half billion dollars in net interest income for the quarter, for the quarter.

So let’s put this perspective. So when you’re looking at the past three quarters and you add up these numbers, it’s 50 billion, 48 billion, 47 billion. If you add all those numbers, it’s $50 billion, $48 billion, $47 billion. If you add all those numbers and this is Q4, so this is for the full year, 2024, they generated $170 billion in net interest income.

To put that in perspective, in April Jamie Dimon came out and said that they expect to generate $90 billion in 2024. $90 billion in 2024. $90 billion in 2024 because interest rates were supposed to come down. And since interest rates aren’t coming down anymore and they’re rising, even though the Fed was cutting, the Fed looks like the Fed’s going to hold off on cutting, even after the CPI number. I mean, all this money is gravy and think about. Think about the amount of money that is coming in. We’re talking about $90 billion to $170 billion. I mean, again, that’s just free money to them that’s going to come in, probably next year, and they’re forecasting next year the same amount that they forecasted in April. They’re saying it’s going to be around $90 billion next year. I mean, when you look at net interest income for these banks, this is why they’re doing so well. This number was supposed to come down dramatically and it hasn’t, because interest rates are higher and these numbers are just mind-blowing. This is the best possible environment that the banks have ever seen in their history, and I’ll tell you why Because we’ve never seen an economy where interest rates go higher and the markets continue to do well. So GDP is strong. You still have low unemployment. Consumer spending is solid. Right, these are the numbers that are coming in.

M&a is about to surge. Everyone’s excited, everyone’s talking about it. Goldman Sachs reported, they talked about it, they’re all happy. Ceo sentiment is at the highest it’s been in a long time, according to Goldman Sachs, especially in the banking industry. Because now, because now you’re going to relax a lot of these laws, so M&A is going to be back, because the Justice Department immediately you say, hey, I’m going to take over. They’re like, nope, you’re getting sued. That’s our Justice Department. They sue everybody, I mean. And not only that, they’re all managing trillions. And what do we see with? The markets Continue to go higher and higher. Yes, they’re off a little bit off their highs, but they make a percentage of those. So they have all these tailwinds that aren’t going away.

I call it like Tom Brady market, because Tom Brady is like the most perfect individual I’ve ever seen in my life. Right, I mean, he’s the GOAT. I mean had the perfect wife and not there anymore, but still I mean, immediately he’s like I’m not playing football, no more. Just when he announces I’m retiring. Now he’s making how much money? Tens of millions of dollars for being an announcer and he’s got to get a little bit better in that job, but still nobody cares because it’s Tom Brady, right? So it’s like a Tom Brady market. It’s absolutely perfect. Wells also reported good numbers, but I will say this I thought it was funny that Wells Fargo their analyst, came out with a note about Tesla. Did you see that?

0:45:33 – Daniel Creech

No, is somebody taking a shot at Tesla?

0:45:35 – Frank Curzio

They expect Tesla is going to fall by 70%. Nice, wells, wells Fargo.

0:45:39 – Daniel Creech

That’s not like a little boutique firm, that’s like it’s because of the outgoing lawsuit, no idea.

0:45:45 – Frank Curzio

Last thing I’m going to say about banks okay, because everyone’s worried about banks and I get it. I understand. It’s the greatest thing ever, it’s the greatest story and I know everyone wants to get together. The banks, they’re going to go bankrupt. Oh my God, I got to own gold, I got to own Bitcoin tomorrow. But they came out and said total delinquencies are down. They’re down year over year okay, to 1.46%, from 1.51%, which is nothing. Goldman Sachs credit losses down from 577 million to 397 million year over year. You’re looking at the banks and everyone’s saying, hey, this is, it’s broken. You’re going to see delinquencies. All this shit’s gone.

There’s a lot going on with the economy and the lower one-third of the economy, daniel, is really getting crushed. But the lower one-third of the economy are not the people that drive the economy, and I’m talking to you and being real from a stock perspective, not from someone who doesn’t give a shit, because I do. We want mom and pop investors to make money, but it’s a tough environment because they don’t own assets and home prices are still doing very, very well. It came down a little bit, but when you own assets, they appreciate it tremendously, especially since COVID, because the government was pedal to the metal, just inflating every asset class. But what’s driving the economy? And even what I’m seeing when I’m traveling? People are spending so much freaking money.

And the metrics again. I’m not coming at you saying I’m always bullish, I’m always bearish. The facts change, I change. I look at the data. The banks are stronger than they’ve ever been. They’re stronger than they’ve ever been. Okay, everyone’s telling you the banks are dead. For I think three years and we’ve been really telling you listen, you’ve got to have a bank in your portfolio, buy a bank.

0:47:11 – Daniel Creech

And these banks have done incredibly well and they’re going to it’s doing well, we needed that because we have that dollar stock club $8.21.

0:47:27 – Frank Curzio

They’re expecting they generated almost $12 in earnings and it was like this quarter. That was like it’s not like AMD, where AI’s through the roof, we’re great, we’re awesome. And you look at the rest of the 50% of their business and it’s down to 20%, 50%, 60%. I mean this is record revenue and equities, investment, banking fees, fixed income, currency and commodities which you break out into a division, optimistic about M&A or the new administration, expect strong fundraising environment going forward. I mean they checked off every single box. You can’t look at Goldman Sachs, at one number in any one of their divisions, and be like and worry about it. Every one of them blew off the numbers across across the board. So you know, for me, when I saw these bank earnings, it’s just like this reassurance, like okay, they’re fine, they see everything coming.

We’re all talking about how bad it is and interest rates are higher. They’re fine. Commercial real estate they know about commercial real estate. They’re. It’s the things that you don’t know about, what you have to worry about with the banks. And even if you don’t know about which I hate to say this thing, I hate to fucking say this even what you don’t know about. And JP Morgan comes out and says holy shit, we have leverage to some market. That’s moral hazard. We’re going to get crushed. What do you think the government’s going to do? They’re going to come out and they’re going to do that. But as an investor, you need to understand that owning the banks there’s little downside risk and there’s still lots of upside potential, probably even in the mid-tier banks, I think, much more upside potential. I think Citigroup is great. They’re still trading around in between 10 and 13, 14 times forward earnings. These are not super expensive stocks. So that reassurance, along with inflation coming down a little bit.

And one last point here I want to show them, daniel, before I give you the stage here, is I pull up this chart for the consumer price index and if you look and this is from CNBC and they have it based on month over month and if you look and you go back to February 2024, this is in the core. This is regular inflation. It’s 0.4%. Now you’re wondering why this market is higher on this number, even though we just came in a little bit unexpected. If you’re looking at February, it’s 0.4. And you have this downward trend. You have this downward trend that continues just through March, april and then all the way down. You go into July it’s 0.2. It stays at 0.2 for July 2024, august, september, october and then November we see this uptick from 0.2 to 0.3. December we’re expected to go to 0.4.

You see this trend of higher inflation and now people are worried. That’s why the stock’s selling off. And when you get a better than expected number saying hey, it’s not as high as we think, it’s 0.3, that’s why you’ve seen a reversal and you’ve seen a bid under stocks right now. So a lot of good news out there. It doesn’t mean you just buy the market and close your eyes. A lot of things are expensive and crazy, but I’m still finding lots of ideas out there that just pedal to the metal good expense controls, good management teams, sales and earnings are going higher. There’s a lot of these names, especially small caps, that I think offer a lot of upside potential here.

0:50:25 – Daniel Creech

The big takeaway for me, quickly on Goldman Sachs, just reading through some of the bullet points and earnings highlights, is how they made a point to talk about how a sentiment or change in CEOs that they’re talking to has changed since the Trump election in November. I think that’s a big deal and, as you said, that spurs IPOs. Next week there is a new IPO in the energy space and it is Venture Global, and they are right off the top of my head, frank. I believe they’re the second or third largest LNG liquefied natural gas exporter from the US to international markets here in the US. I don’t know exactly what day Expect all the big banks here in the US. I don’t know exactly what day. Expect all the big banks, frank. If you have your calendar tab open on briefing, click on the IPOs and it’ll tell you who the front runners are. Again, memory serves me correct, it’s JP Goldman Sachs and all that. The takeaway here is you’re right. The Trump administration is not a savior for all markets, frank. I know we’re not saying that, but it is a tremendous boost and measuring that boost is going to be difficult because you have a whiteboard of opportunity, frank.

If you’re making a movie or a series. I think that is tremendous control, because when you can control the narrative, you essentially are always moving forward. And if you think of one of your favorite movies or series like Star Wars, frank, I mean I’m not a Star Wars guru, but it’s a good example, because they made what Four, five and six and then they went back and made one, two and three. Right, game of Thrones is doing the same. A lot of people were copycatting that. That’s one of the best compliments you can give is to copy somebody like that. And what a great scenario to have and say, hey, you know what this isn’t working out. Well, hell with it. Let’s go back and say this happened 10 years ago and make a movie like that. Now it all makes sense.

How do I tie that in with Trump? Well, because you don’t know what you don’t know and you never know what this guy’s going to say, and it absolutely cracks me up. But how about an external revenue service, frank? Do you have this new idea to bring back tariffs and all that kind of stuff? The point is is that you have no idea what this guy’s going to say next, so trying to put him in a box. And I still think that the media and the financial media is still putting Trump in a box and just calling out what we all know oh, prices are higher. What are you going to do about that? Well, we don’t know. Again, he’s not a magician, but for crying out loud, okay, he wants to drill, baby drill for energy companies. I just recommended a couple energy companies in the oil space.

Do I really think that Trump is going to be able to successfully get oil down to, say, $45 a barrel and keep it there? Maybe, maybe not. Does he want to? Maybe, maybe not? Does he think that that would create a lot of wealth to do that? Or, since this guy’s just making up space programs and war space programs and external revenue services, what if, frank, he says something like you know what, we’re going to give a special tax break to the oil companies If you can get us up to.

We do about 13 million in daily production, if we can get that to 16 million. That’s not pulling a rabbit out of a hat, people. That 3 million increment is from recommended, or how do I say that? Frank Appointee, hopefully the Secretary of Treasury, scott, is it Benesit or Bensit, whatever? Yeah, he wants to get 3 million more barrels of production per day. So let’s say we go from that 13 to 16 million barrel per day. That definitely would be bearish for oil. Again, what if he pulls in a rabbit out of the head and says, yeah, but you don’t have to pay taxes on that. Or you know what, you guys fill up the strategic petroleum reserve and we’ll give you a tax break. The options are crazy unlimited. So don’t just run for the hills because of the headlines being touted about right now.

0:54:01 – Frank Curzio

Yeah, oil is pushing eight hours a barrel right now, so we’ll talk more about that tomorrow and get into oil. There’s so much to talk about. I want to talk about the Zuck interview we can talk about that tomorrow as well with Joe Rogan. I thought he said a lot of interesting things, and so did you, especially when it comes to Apple and things like that innovation. I think we can get into that tomorrow. Oh yeah, for tomorrow. Oh yeah, for sure.

That’s going to be on our um worship premium podcast, uh, but you’re seeing a lot of moves here you are, and you have to pay attention. Also, if you want to be entertained, definitely watch some of these hearings, because, uh, uh, wow, they attack, they just and they just. It’s just so funny because they’re such hypocrites, right, and these politicians, I mean, they really have no soul. They don’t even give a shit, right, it’s, it’s, it’s crazy. It’s not about who’s the best person for the job or whatever. It’s just like okay, how do we smear this guy as much as we can? And it happens on both sides, right, but the hearings are just grandstanding. I don’t think the politicians know, but it highlights how much of fucking idiots they are, because these are really people who are lawyers, right. And what was that thing where you said I think we talked about with Zuckerberg? Remember? They’re like how do you generate money off of your-.

0:55:06 – Daniel Creech

Oh, yeah, one of his hearings.

0:55:07 – Frank Curzio

And what was it he’s like?

0:55:08 – Daniel Creech

well-.

0:55:09 – Frank Curzio

He said you know, we sell advertising Like you sell advertising.

0:55:11 – Daniel Creech

We sell advertising to you.

0:55:16 – Frank Curzio

And the guy didn’t even understand it Like you think we’d like. Okay, we need to destroy this guy, let’s destroy whatever, however we can. It’s credibility. It’s not going to matter because they got the votes anyway in the bag with senators in the House and stuff. But it’s funny seeing the whole process of it’s just. It’s so political. But I don’t think they realize, even on both sides, when you’re doing that and attacking someone and you’re just doing it in a way where you really don’t care if this guy is going to benefit the country or not, if he’s the right person for the job. It really makes you look terrible and all this stuff gets broadcasted out every real time. You can watch it on YouTube real time and stuff and it’s just. You really see the politicians and how terrible and how disgusting they are. But I don’t know if that’s ever going to change. Hopefully it’ll change a little bit, but it’s not going to.

Don’t waste your time. No, going to change either. So you know we’ll get to Zuckerberg, We’ll get to things like that tomorrow.

0:56:02 – Daniel Creech

Yes, tomorrow. I’d like to talk about the Gary Gensler Elmer Fudd interview as well, gary Gensler as well.

0:56:08 – Frank Curzio

Yeah, that should be pretty cool.

0:56:09 – Daniel Creech

And I already ranted about Janet Yellen’s exit interview when you were gone, so I won’t do that again. I’m so glad Gensler’s gone Although I will say Frank, because you didn’t hear it and I’m not going to go back into it but we still have currently the sitting treasury secretary is not sold, is unsure and doesn’t know if money printing and sending it to people causes inflation.

If that doesn’t prove you out there, no matter what you’re doing and where you’re, at that you’re smart enough to run this country, then nothing will and you’ll just stay there, and that’s fine. But have confidence in yourself, people, because don’t give people credit when they do not deserve it.

0:56:45 – Frank Curzio

No, and that also goes into the theme that we’re going to talk about next Thursday is it doesn’t matter who’s there. I know this whole Doge initiative and for you guys to think that we’re going to cut spending and it’s not going to hurt the economy, it’s crazy. And when you hurt the economy, it’s not really good for the incumbent president and his administration, even though this is second term. But the money printing is not going to stop. I mean, what is it? A trillion dollars of printing every five months or something like that, and there’s just no end in sight. And when that happens and when you’re looking at, okay, gold is going to do good, I think you’re going to see gold stocks.

I think this is going to be the year for gold stocks, especially junior miners. I think this is going to be the year for gold stocks, especially junior miners, Because if we go to 3,000 on gold which I think we do these things are going to go a lot higher. They’re going to get taken over because there’s just been so much underdevelopment in gold for the past decade or longer. They’re going to need the supply of gold. I mean, everyone’s ramping up supply like crazy. I just saw the gold companies report. I saw Kinross report and they’re shutting down their operations in what is it in Africa? Because they produce a shitload of gold and way to put me on the spot and they did it in an area that’s one of the biggest things.

We have five big rules. I’ll go over them a different day because we don’t have time here, but one of them is make sure you buy in gold stocks. Make sure they’re in a friendly jurisdiction, unfriendly jurisdiction. They started generating, you know, just producing gold, and the government’s like, oh, we’re gonna keep that. Now, yeah, happens time and time again and you have to learn a lesson the hard way, which I did as well, but even when Kimbrough, which is like you know, one of the kings of the industry.

This dictator lied to me. I can’t believe it. I mean, we had a deal in place. Well, I don’t understand.

0:58:12 – Daniel Creech

You’re a scumbag.

0:58:13 – Frank Curzio

Yeah, so I said go VX are in africa and those things will never get developed, ever. But they’re going to be making two to three hundred thousand dollars a year. Those, those, that management team, which is fucking incredible, and a lot of big weights, heavyweights on that management team, but they’re full of shit and been robbing investors for a long time. Just, you know, that’s one of the biggest things. Make sure it’s a in a mind-friendly area. That’s why you don’t have to worry about this bullshit, because then when you produce, you know and this is barrack right, this is like. You know there’s like one of the big seven technology companies getting it wrong and they got it wrong here. You know they’re supposed to be, have the smartest people in a room and have the best contacts and they got that wrong. But they’re all producing. Ken ross, they saw beta, gold equinox all these cut. They just like the gold numbers. They’re just producing like crazy. They’re gonna need to find gold and as gold goes higher and bitcoin goes higher, uh, I don’t see those two trends stopping anytime soon because, even though they’re going to try to cut the budget, it’s not going to happen. That’s one of the things we’re going to talk about again that live event Becoming a Crypto Millionaire 2025, it’s free to attend. If you’re already a sub, attend it as well. For crypto intelligence Again, we’re going to have a special offer for crypto intelligence at the end. But Daniel and I do it live and we have a really cool Q&A. You can ask, ask whatever you want, any crypto, anything. We’re having a couple beers in the Q&A and we have a lot of fun and usually I would say, 80% of the audience stays on for that extra hour hour and a half, which I wish you didn’t. This way we can go and have some fun because it gets late, but we stay there as long as the people stay there and we answer your questions and the questions coming in are great. So if you want to attend that event, please do so, and that’s going to be Thursday 7 pm next Thursday, on 23rd. So other than that, I think wow. I think we covered a lot of shit today. We did.

I love earnings season. Earnings season, just beginning with the banks. You got you know again the economic data coming out. Bank of America is reporting tomorrow, but now you’re just going to see a whole slate of earnings. And let me tell you something guys, pay attention, because this is the driver of stocks.

If that doesn’t happen, if we don’t see earnings growing because earnings are expected to grow tremendously because we’re at expensive valuation we’re not expensive. If we’re going to get the growth that we’re expected to see in 2025 or next few quarters as well, which is definitely double digits, we’re not that expensive. If we don’t get that, that’s when we could see a market sell off significantly 10%, 15%, 20%. If we see this earnings season or next earnings season drop off because expectations are very, very high. If we get those earnings, we’re not that expensive. Yes, we’re expensive historically, but we usually grow earnings 7%, 8%. We’re expecting to go around 12%. So a 2021 PE is not that expensive when it used to be 17, 18, because we’re growing earnings much, much faster. You have to take that into account and the economy is doing pretty well, right, so we need that to keep up in order to keep these valuations, or you’re going to see the market fall.

So, earnings, please pay attention. I think you’re going to see a lot of volatility and daylight here for you to cover that and it should be pretty fun over the next couple of weeks. So, yeah, other than that, I think tomorrow we’ll see Tune in tomorrow. Tune in tomorrow to our wonderful podcast Wall Street Unplugged Premium. Again. Questions, comments? Feel free to email me at frank@curzioresearch.com. Daniel.

1:01:13 – Daniel Creech

Daniel@curzioresearch.com.

1:01:15 – Frank Curzio

All right, guys. Thank you so much for tuning in and we’ll see you tomorrow. 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, where 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.

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1:02:50 – Announcement

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.