Im charles payne. This is making money. Maybe things are too good to be true. The maybe the question, have some stocks come too far too fast . At this point does it matter . I will call this a devilmaycare rally. A lot of pros on deck. Victoria fernandez, done luskin, Gary Kaltbaum who told you to buy nvidia six months no now. Should we stop our kids from learning and could it take disney stock over the moon . Call it a comeback, japans stock market hitting a 34year high. Well look at abinomics. Well look at the oracle of omaha, Warren Buffett. All that and more on making money. Charles welcome to the devilmaycare rally. Aage why tiff. Not worried about your. We have Warren Buffett, abby, around stock market that cant stop, maybe it will never stop. Also a market been focused, laser like focused on the s p 500, large cap names which in turn have been focused on growth overvalue. We drilled down a little bit more. It is that growth weve seen outperform really technology, communication services, last five or 10 years, folks, up 48 . Consumer discretionary up 24 . The question obviously how much longer can they keep pulling this off . I want to bring in ria advisors lance roberts. Lance, youve been somewhat cautious. Are you more cautious or what, i will be devilmaycare, i will throw caution to the wind and hop on this bad boy . Hello, charles. Ive been in disney for a long time now. At market lows where everybody is super negative that is the time to buy stocks. There is a simple rule about making money, sell high, buy low. Right now you have markets at alltime highs. You have detear rating internal breadth. You have markets that are overbought and this major exuberance of investors cant stop, wont stop, markets will go up forever. This is time to take a little money off the table. You know what . There will be an opportunity to buy back cheaper. Charles there is a lot of debate of course over the a. I. Trade, right . Particularly with respect to the a. I. Bubble. Wedbush, says were further along maybe more of a bubble. What are your thoughts there . Theres a huge difference. I went through the bubble, 95, 99, i went through the whole dotcom crash. Those companies didnt have earnings, they didnt have revenue, a lot of them didnt have Business Plans this is a very different rally. I cant say these stocks cant possibly be in a about the, there is tremendous amount of expectations around never ending growth. Nvidia is a good example of this. These Companies Make billions of revenues. My big concern the market as a whole outside of top 10 stocks are not really growing earnings that much. The Earnings Growth is coming from those megacap companies. Charles you wrote my next question, right . The narrowness of this rally has been a real problem, particularly for pros, right . We saw last week, thursday, friday, ininterest day, 400 new highs, more than new lows. We finished friday with 200 some odd, the needle is moving. Ultimately the question though can the rally spread given this sort of specific Value Proposition that a. I. Has . They are making money hand over fist. These other stocks cant duplicate of that. Does that not mean they cant go higher . Market as a whole, a rising tide lifts all boats. As people start to look away from these megacaps have great runs what other opportunities are out there . The market can continue to lift, but the issue will come later this year, when we start looking at Economic Growth, because thats where earnings come from, can the economy continue to grow at the rate it has been growing or is a reduction of liquidity, higher interest rates, is that going to impact slower Economic Growth in the future which will weigh on earnings . Then you have to have a repricing of these expectations. Were not there just yet but that is likely, what well see before the election. Charles i have to tell you, between now and the election with these stocks that can go up this much it is crazy. Youre in or out. It is like being half pregnant. You cant be half pregnant right . This is another thing starting to come on the radar a little bit. Smart wealthy folks, bezos, musk, selling. Jamie dimon we have a chart up here. Look how brilliant he was, he bought his own stock on dips, twine, 2012, 20176. Really low prices. Sold 150 million worth last week. Is this a smart trade or should we see yellowred flags in all of this. You should Pay Attention to this. Jamie dimon is basically part of the Federal Reserve. Jpmorgan chase is a member bank of the Federal Reserve. So he was buying when Federal Reserve was out there providing liquidity, talking about accommodation, that type of stuff. If he is selling now, we have to at least give some credence what does he know thats coming down the road . We know the fed will be cutting rates later this year. It may be coming much later than what the markets are predicting. That is the risk potentially this kind of overly bullish market right now will have to come to grips with. Yeah you definitely Pay Attention to what he is saying. Charles lance, before i let you go, we have 30 seconds, what if the fed, what if the next rate move is a hike, just for instance . Wouldnt that not going to happen . No, no. If it did the market is not anticipating a rate hike, right . The markets are betting on rate cuts. So if the fed happened to hike rates and i dont expect they will by the way. Charles sure. If they did that would be a trigger for probably a pretty decent selloff in the markets,. Charles it has been amazing how the market adjusted from seven rate cuts to three and still the engine keeps going. Lance, always a pleasure. Thanks. Charles my next guest works with ceos and executives and build wealth through tax if i have means. Ultimately these people may a lot of money, hardearned money and they want to keep it. I want to to bring in a achilles ar. Ea. Brilliant people are not selling a little bit. Billions of dollars worth of stock. For you is that a red flag. No, i dont see it as a red flag, i see it as a pause. Once we go forward i see a lot more buyin. They look for way to get in accumulate shares. At some Point Charles im taking like bezos of the world selling six billion dollars. Jamie dimon how impeccable is the timing. He sells it stock. I dont know there was any urgency to sell it. That first time he sold jpmorgan. Is there something you wonder about. They will take advantage of them at this point but your average investor doesnt have that type of information, but they can go in after any pause, buy in, couple late more shares, make more money doing that. Charles the pause would anticipate a pullback, some opportunistic time. Warren buffett sitting on almost 170 billion. A lot of brilliant folks have not bought into the a. I. Driven rally. What do you make of it . You cant deny a. I. You cant deny the impact it is going to have on society. Right now it is the pick buildings and shovels part. Should the whole market go up on this . I dont think the whole market should be and the whole market is not going up because of this. The nvidia news came out. Everybody is on the bandwagon. I say the exact opposite. Well look for the pause, well go in and buy, but be strategic where youre getting in. Were still in the early seasoning of a. I. Charles but you compared it to the tech kabuls, you say it would be 1995, 1996 . I say 1996 more so. Charles the irrational exuberance a lot of people forget when breen Alan Greenspan, the market continued to be irrational and exuberant for another four years. It is tough to pinpoint the top on these things. You have to take advantage of it and you got to be in it. Charles talk about opportunities. You have three ideas you like. Palantir. For a long time people didnt understand the business model. It was opaque. Extraordinarily earnings report. A lot of folks jumped on the band wag gone. They say this is alternative a. I. Play . I love it. We started getting into it around 16 a share. Weve ridden it up to 23 right now. At the same time there is a lot more potential. There could be easily 30 plus dollars a share. There is lot of opportunity if you have the gumption to get inn now or a dip occurs. Charles taiwan semi had earnings report, month or so ago, such a great report, kind of of rejuvenated the semiconductor rally before the a. I. Part took off. You still like it here . We have a lot of geopolitical risk at this point the thing theyre moving into the United States and building factories there. There is a lot of opportunity for the stock, even with what is going on with china. We believe there is on opportunity to make a lot of money here. The stock has proven us wrong again and again by going up. Speaking of geopolitical issues, raytheon, everyone understands the defense contractors, it seems like a layup. Sometimes these things are obvious they dont work out but this is the i am name in the whole area you want to be in the most . So diversified as far as their incomes. You have so many different companies. Raytheon is one of those companies we have problem in the suez, problems in israel, problems in ukraine, they have their hands in all those pots. They will continue to make money in those areas to do so more strategic way. Theyre in so many different, all the defense contracts, potential space going forward. Charles right. There is a lot to work with there, still in the early part. Charles achilles, thank you very much. Great to have you on. Folks, coming up, what is next, spoke about legendary investor Warren Buffett. Victoria fernandez says this guy is sitting on a pot of cash. She says she knows names he is looking at. Cant wait to hear. She is next. And more about discovering magic. Rich is being able to keep your loved ones close. And also send them away. Rich is living life your way. And having someone who can help you get there. The key to being rich is knowing what counts. After last months massive solar flare added a 25th hour to the day, businesses are wondering what should we do with it . Im thinking company wide power nap. [ employees snoring ] anything can change the world of work. From hr to payroll, adp designs for the next anything. clicking im jonathan lawson. If youre 50 to 85, please listen closely. The lock i want to talk to you about isnt the one on your door. Its a rate lock for your Life Insurance that guarantees that once youre insured, your rate can never go up at any time, for any reason. Many policies you see dont have one, but you can get a lifetime rate lock from colonial penn. 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So listen the markets been on a tear, well since last october, right, the end of october, and it was spurred on assumption of wave of rate cuts this year. Now conventional wisdom is saying okay, three. That is half, less than half that sparked the rally, but still the momentum has actually picked up more speed. This gets back to a central debate about the modern stock market. Is better by rallies to powered by Strong Economy, improving fundamentals or a weak economy really benefiting from fed accommodation . I want to bring in crossmark Global Investment chief market strategist, victoria fernandez. Victoria, we have known for a long time better coral race between stocks and the economy. Honestly, Alan Greenspan turned the whole thing around but each successive fed chairperson has added to this. The question do we want stronger economy to empower stocks with no fed a accommodation or do we want the weaker stocks with the fed pumping money into the system . Charles, you know the my answer will be before you even ask that questions because we always focus on fundamentals for the stocks we put in our portfolios, even our fixed income securities. We want to see economy with strength to it. We want to see stocks with strong fundamentals, that are trending higher. This is what feeds into the model that we use to actually pick stocks for our strategies. Obviously you can always say the fed put us there. Good news is bad news, vice versa. We go through all those narratives, but in the end what will give you a longterm trend is a Strong Economy with strong fundamentals. Youre going to have consumers that have the ability to spend and youre going to have companies that can keep up with the supply demand. Thats what we need for the economy to continue. Charles so what are you telling, everyone, every professional i know who manages money, their phones are ringing off the hook, clients want to chase these a. I. Names. Some are already in it, they want more. What do you tell people about the most aggressive names out there, should they be chasing them . If they really want to how do you stop them from doing it . You cant stop a client from doing what they really want to do. We only give our best advice, right . But within our strategies we had exposure to all the names as you know, even though weve been more cautious on the market than a lot of people, we still have invested, we still have exposure here. What were doing on some of this runup, because we think there is enough mow men couple for this market to keep going for the next six months or so. We want to trim some of the names that have gone up significantly, even these a. I. Names. Look you have got basically a handful, maybe three a. I. Names driven over 50 of the growth in the market as of late. So you can take a little bit off the table and maybe find some other areas people ruch at thatting about how widespread a. I. Can be going forward. Maybe find some other areas to invest that but you certainly want to have some exposure to take advantage of the upside. Charles lets pick up on that because Warren Buffett is sitting on a lot of money. You think you have an idea where he is looking. Lets talk about some of these names. We dont have a lot of time. I share the list with the audience, carnival, Warner Brothers discovery, two, fiveyear treasurys, talk about cigna because you like this one a lot . We do, weve liked the stock for a long time too as your viewers know. Its a name weve been saying for a long time we like in our portfolio, but all of these companies have one common denominator and it is free cash flow. You know Berkshire Hathaway likes companies with free cash flow. They have that. Cigna in particular seems to fit within their portfolio well. They increased their dividend. Theyre divesting the Medicare Part of the business which in my opinion is probably the part berkshire would have liked. So it seems like a good option to them to add to their portfolio. Charles before we go, where do you see this economy right now . Look there is some momentum there and which dont want to take away from that so you want to be invested in the market, you want to participate in this momentum. We have to be cautious, there are too many elements out there flashing their red lights. Leleis, shape of the yield curve, ecb saying they will not cut until after the fed, the cycle you can get in higher for longer. We think you need to be cautious in this market but be invested to take advantage of the upside. We like health care, we like financials. We think you can add to those sectors to take advantage of that. Charles all righty. Always great having these levelheaded conversations with you, victoria. Talk to you again real soon. My pleasure. Charles talk about partying like it is 1999, japan is partying like it is 1989. The market is surging. At a new alltime high. 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Soft landings, lets face it, theyre hard to pull off. Go back to 1954. It only happened three times. In that same time period you have had 10 hard landings. We have trendmacro chief Investment Officer don luskin. You looking for a weak cpi report, it came in hot. Is that a onetime thing or have you retool your thinking here . It is not only a onetime thing, it is statistical aberration. Once a year which the data they give you in february. It is completely arbitrary. If they wouldnt have done the reweighting. They would have slightly beaten them. Please dont worry about that. Charles the Federal Reserve as chartability issues what imconcerned about, not necessarily per se, from their perspective, looks like okay they do about face on rate cuts, do they admit such . Are you saying it doesnt matter its a moot point . I really think it is time to move forward. Okay, remember the december fomc, just two months ago, that was supposedly the pivot, when everybody said, oh, my god there will be seven rate cuts by january 2025. For sure the rate cut will come in march. Stocks broke out to new highs, after two year bear market, literally on the day of the december fomc. Then they unpivoted. Right now if you look at the money market curve, it is essentially as pessimistic about the fed cutting rates as it was in october of last year, which was the worst moment for the curve in this entire tightening cycle. Were back. Yet, stocks have moved on to new highs. So clearly stocks are saying it doesnt matter what the fed does. The fed has been at what it calls, a restrictive rate, now for a yearandahalf. Job creation, it is accelerated. Gdp growth, it accelerated. Productivity, it accelerated. Obviously we are not at a restrictive rate. So, look i earn my living being a fed watcher, so arguing against interest here. Lets just talk about something other than the fed because the fed obviously doesnt matter. Charles lets talk about japan coming back. Is this a good enough pivot for you . Very good, we changed the subject. Charles japans stock market, has gone to a new alltime high. Only took 34 years. Right. Many are crediting the arrival of shinzo abe. Got it on the chart. 2012, came in, things turned around instantly. This came up we were debating bidenomics and part of abenomics, what they call data driven human Centric Society which i think means if the population goes from 120 Million People, to 80 Million People you better learn how to use data. That being said is there a tale there for americans deciding what system we should have . That chart is absolutely fantastic. The arrival of abenomics simply an Inflection Point in the hopes and ambitions of the japanese economy which is what stock markets show. It shows you, what you do progrowth, probusiness, pronation leader takes the helm. We saw the same kind of turning point in the 80s with Ronald Reagan and margaret thatcher. We seen it in 2010s with abby and modi who ills still there in india and now with donald trump. Were seeing it with maloney in argentina and who knows we just might see again this november in the u. S. Just saying. Elizabeth all right. Don, always great having you on,. Thank you. Charles folks joining me now lonski Group President , john lonski. Pick it up for a moment, not being a economist or anything like that, it is striking. It is ironic. Abe comes in, reminds me the day after President Trump was elected, everything went up, National Federation of homebuilder, all sentiment gauges went up. There is something not to the policy per se but the persona. In other words saying hey we can pull ourselves up by the bootstraps. You can make it. It is not an unfair society. I think that goes a long way. Sentiment, attitude, theyre both very, very important. If you have leadership that is encouraging a risktaking entrepreneurship, that has got to be a benefit to the economy f you have new leadership to tells people time to get off the couch, go out, make some money, that is a positive for the economy. Charles lets talk about this economy right now though. People are getting excited. I mean, were see being numbers move up. So Goldman Sachs, theyre saying you know what, we think First Quarter gdp will be 1. 8 . Prior to that, the Previous Survey though at 1 this is not them, but a survey of experts right . Consumer spending 2 . They thought before it would be 1. 4 . Across the board you see these kind of major changes. There is excitement out there. It is sort of interesting because, you know, we were bracing for the recession. Then we were bracing for all the rate cuts. It feels likes is it equalibrium or maybe the game getting too far ahead of themselves . I think these forecasts are a little bit ahead of themselves. What concerns me if the u. S. Economy picks up speed, especially in terms of Consumer Spending that will put renewed upward pressure on prices. The problem you have here is, it is major constraint now being imposed on the economy by a historically low Unemployment Rate and very rapid wage inflation. So it may not take much of an increase in the demand for labor to push wage growth a little bit higher. In turn you will see prices take off. Were going from talking about a rate cut to a possible rate hike. Charles right. Don was upset with the question, but it is hard not to okay, i understand the stock market is looking at something else. The rally baton was handed from powell to a. I. , but it doesnt mean it wont be handed back or attempted to be handed back from ai to powell under the assumption the fed will cut rates. If you Start Talking about rate hikes, that changes the whole dynamics of everything, doesnt it . Of course it does. That would be a major threat to these stocks that have stratospheric pe ratios. That would include a lot of the technology stocks. It would bring into question whether or not the consumer will finally have to succumb to a tighter monetary policy. Charles so during the commercial break, i checked it out. I was checking on the screens. Up on my bitcoin finally. Doing pretty good there. Up 4 exploding higher, to 53,000, maybe that is the kind of thing that the fed looks at, just maybe too much money still slosh, around out there . Look at the equity side of the equation, ongoing realities of equities, bitcoin, corporate credit, junk bond yield spreads are very narrow, close to historical lows. This tells me the u. S. Economy has more than enough liquidity right now. There is a very real risk that this liquidity, this new wealth could find itself, financing spending. That would put unwanted upward pressure on prices. Charles all right. John, thank you very much, my man. Thank you. Charles hey, folks coming up we stick with nvidia. Of course the stock continues to sore. Arguably the hottest stock in history. Gary k. Called it. I cant wait to hit what his next pick is. Pportunities are everywhere you turn. But at t. Rowe price, were letting curiosity light the way. Asking Smart Questions about opportunities like advances in healthcare. And how these innovations will create a healthier world tomorrow. Better questions. Better outcomes. Businesses go further with 5g solutions. Thats why they choose tmobile for business. Pga of america and tmobile are partnering on 5gpowered analytics to help improve player performance. Tmobiles Network Helps aaa stay connected nationwide. To get their members back on the road. And Las Vegas Grand Prix chose tmobile to help fuel operations for one of the Worlds Largest racing events. Now is the time to see what americas largest 5g network can do for your business. A force to be reckon with. No, not you saquon. Hm . You your Business Bank account with quickbooks money, now earns 5 apy. 5 apy . Thats new yup, thats how you business differently. Its odd how in an instant things can transform. Slipping out of balance into freefall. the stock market is now down 23 . This is happening people. Where there are so few certainties. laughing look around you. You deserve to know. As we navigate a future unknown. Im glad i found stability amidst it all. Gold. Standing the test of time. Your shipping manager left to find themself. leaving you lost. You need to hire. I need indeed. Indeed you do. Indeed instant match instantly delivers quality candidates matching your job description. Visit indeed. Com hire you know, when i take the bike out like this, all my stresses just melt away. I hear that. This bad boy can fix anything. Yep, tough day at work, nice cruise will sort you right out. When im riding, im not even thinking about my painful cavity. Well, you shouldnt ignore that. And every time i get stressed about having to pay my bills, i just hop on the bike, man. Oh, come on, man, you got to pay your bills. You dont have to worry about anything when youre protected by americas numberone motorcycle insurer. Well, you definitely do. Those things arent related, so. Ah, yee oh, that is a vibrating pain. Charles all right, if you ever on jeopardy, folks it is official, nvidia the hottest stock in history. Now this is based on how long it took to go from one trillion market cap to two trillion market cap but there is data from Goldman Sachs, that hedge funds are starting to dump tech in the fastest pace in seven months. Remember they loaded up on nvidia and other tech before this. Should you follow the socalled smart money . The man actually saw the breakout, called the breakout, he is up 300dollar on his position. Gary kaltbaum, kaltbaum capital management. Fox news contributor. You eases out a little bit and what percentage do you own and what is the plan from here . We got into double digits and now were below double digits in size on nvidia. I tell you if it sets up again i will have no problem adding back. Im not so sure this is not the start of a move after this gap up. You know, the big thing about markets, what we just look for is characteristics of bull and bear markets. When you see big gaps to the upside because of an is being acceleration of earnings and sales it can start things up. Well see what happens. So far so good a few others are going along for the ride. Lets hope we can find more. Charles it is interesting you say that, i have a chart, i think we have it in the system, that shows a comparison to where we are now and, right where the tech bubble sort of went parabolic. Even though feels like were parabolic right now, this aint nothing compared to what happened back then. That was on the way to disaster but this is a different set of circumstances, isnt it . These are different quality names. Their impact on society . This is completely different, isnt it . As of this second, yes, but if we start to see some crazy stocks and dollar stocks quadrupling in three days, well know it is getting frothy. I can tell you 99, the last few stocks we were in were up three, four, and fivefold and we caught the last clue mack i can move in qualcomm, also. Went up 100 in a day 1 2. Were watching names like arm holdings which we havent gotten into yet. I came in today to buy the heck out of it. It was up 12 bucks in a blink. It is a new ipo. New institutions need to get more. Theyre accelerating their numbers. Taiwan semiconductor is accelerating their numbers. That is what were looking for the only names i lost money on, i decided to buy a financial on Goldman Sachs and breaks out and tucks its head in like a frightened turtle i had to stop out with a couple percent. I stick with the leading stocks in the leading groups. Theyre still on the move today even with the dow down. Well see where it stops. Maybe it stops tomorrow. Maybe it goes for another year. I will let the market decide. Charles here is the thing, people are trying to broaden out. You want some balance in the portfolio. Big banks, for instance, like the regional banks, not big banks, they acted like they want to take off, both the kbw, right above 50, 200day moving average, if Something Like that inches a little bit higher would you retry Goldman Sachs or another name . I would. But the stronger name looks like now wells fargo and jpmorgan in the group but there are other areas also that are strong. Union pacific was just at new highs. Caterpillar, and the good news is it is easiest to isolate weakness in this market. We dont go near things like apple that is really weak, some of those, Texas Instruments and semis, versus nvidia. You can tell which is the usain bolt and Gary Kaltbaum doing a 50yard dash. We just want to stick with what is leading, whats strong. Were in one of those outlyer moments that wont go forever, i can promise you that. And what my big advice to everybody, know where something came from. If somebody is up 50 in a month, six weeks it could correct 10, 15 before you say boo, you just want to buy them correctly and probably wait for pullbacks at this juncture. Charles it is interesting, as you were talking i was thinking about that Warren Buffett letter because he sings the praises of burlingtonnorthern, we cannot have have an economy without the railroads. No matter how unsexy you think they are, unpacific and others will make highs from time to time. Gary appreciate tapping into your knowledge. Thank you, man. Charles, have a great day. Charles here is a question for you. Is there a way that disney can double their share price . An activist says there is a foolproof way. 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Im going to Say Something and its going to sound completely opposite of what people feel, over the course of the last ten or 15 years almost everybody who sits on the stage like this would tell you is vital that your children learn computer science. Everybody should learn how to program and its almost the opposite. Its our job to create Computing Technology such that nobody has to program in the programming languages human. Everybody in the world is now a programmer this is the miracle of artificial intelligence. Charles now is jensen wong telling everybody that its a big mistake and we done this over the last decade thats all we done was tell our kids you have to learn how to code, but the football down, joining us director of education and product your mom and investor in the books on girls coding and all of these things ive been involved with organizations and charities and to help kids code, thats pretty deep. It shows innovation and moving forward its going to take the students to learn how to code to create the systems that would allow the next generation did not happen. Charles lets not worry about that you put a couple of words in the a. I. Indigo produce all of that for us. We know a. I. Is not perfect and it produces and requires an expert to curate it i use this code but i also had to tap into some friends to help me understand it meaning there has to be an expert garbage in and garbage out someone has to watch it very specifically. To the point its interesting people having fun but also a serious issue with the gemini version of a. I. It is awful and i think its because a person to put it together far left progressives he put his ideas in their unit seems to be the antithesis of what a. I. Is supposed to be. With a. I. In the way that it works have to specify guardrails and specifications, these were overcorrected which could lead to a larger issue. Charles doesnt a. I. Learn and say the person in the initial programmer mightve put these on but the guardrails on our wrong and they would be doing this job if it was able to evolve and fix that. It puts in the guardrails but those of the specification it learns and reiterates itself on like the hallucinations were a. I. Was having as essential crisis were being rude to people youre not needed guardrails to prevent things like that happening but too much of the guard rail then you will lose the good capability which is what i had another pr issue. Charles where are we now, lets say we compare this to the tech bubble of 1995 in 1999 and 1991, where are we right now. I dont think its attack bubble were postbubble there is definitely the exuberance and everyone is exhaustive but these are company was a clear path to profitability and companies that are been around for a while and these are Companies Like nvidia is doing extremely well. Charles we just had a table up the show the evaluations of this Group Nothing has been this high are they expensive, some of these comparisons if you go back to 2000 there wasnt a lot of ee in pe. I think its a long period to compare with a look at something pre. Com bubble because rated different restrictive environment but is it restrictive or where it was prior to. Charles we talked about the evolution of a. I. And we talked about how it will funnel and there is an Investment Firm that is pushing disney and they put together nvidia Blackwells Capital and they embrace and can articulate a feature in technology this stock will go up easily 129 , im not sure about the numbers but i do believe any company any Media Company sitting on this is making a mistake. Absolutely what is beautiful about a. I. If its into every vertical a good report by bank of america that came out in october of last year end they said the media had a 2. 5 investment with nai thats an older version so i imagine thats absolutely more astronomical but it shows that it shifting over to the b2b side and thats absolutely necessary for progression and i completely agree with them. Talk to me about apple everybody whos been on the show in the last few weeks apple has had its run. Apple is out of risk of going into the trading cycle but it found my support and what im looking for so the way i would position as an options trader we sell puts to buy them and allows you to collect yield and if it moves adversely you can get yield and reduce your capital expense. I want to hold apple when we get to wwdc which is in june we want to make sure. You own the stock is that a covered put. In verse you sell the put which creates an obligation to buy so you get cash for it to be there if it moves down then you have to purchase it but then you sell a call against at a higher strike they can participate in Capital Appreciation but if it doesnt move this is the best strategy for a stock not going anywhere. The bottom line you want to have exposure and apple because the vision pro had astronomical demand that has a. I. All over it and unlike google apple will not release and told thoroughly tested and ready for consu consumption. Return those things. Ive seen amazing videos of what theyve done. Charles you are a believer . I am a believer. Speaking of believing did you see Warren Buffetts newsletter annual letter came out saturday linda was one of the best he began with Charlie Munger who he began the architect Brookshire Hathaway he said he himself acted as a general contractor carrying out daytoday vision. There was all kinds of pieces, one like shareholders family in fact and how his sister is a longtime holder a brookshire stock, by the way dont buy if you looking to trade it. He talked about him being smart, wise and she likes the challenges thinking although he said theyve never ever had a shouting match or anything close to rupturing the relationship. By the way they never will, he talked about rascals and trust in the fact that he borrowed a quote it was a first control of the United States who said never deal with the rascal under the expectation that you can prevent him. Talk about being prepared. It is so important how he was an all cash sitting during the pandemic the panic of 2008 and he made good money on it linda prevented him from going desperate a lot of people were grappling for ways to find money, he did not need to do that, interestingly opposed the wall street billionaires and i talked about this on friday who spent a whole lot of time predicting vilma glued buffett said it was not a prediction it was always wanting to be prepared. Then the magic of where he talked about the upcoming shareholder gathering in omaha and how he and Charlie Munger were shaped by growing up there in a Public School there. His invitation omaha also took a slight dig at a. I. Maybe anticipating is going to be a whole lot of questions on the topic and the lack of exposure to a. I. By the way Brookshire Hathaway posted their financials which beat the street and crushed the street. Buffett is sitting on 167 billion but he is concerned he noted eyepopping performance at burke shire is over and hes fretting, hes having a hard time looking for something that could move the needle. Interestingly enough it would probably have to be an American Company keep that in mind the u. S. Stock market significantly outperforming the rest of the world and is not by accident in the pied piper of the stock market. I want people to own stocks, Great American companies because thats what you own. My take away with the letter that buffett made the notion of attaining prosperity through the stock market through longterm investing and feel wholesome in a world that says getting or being rich is selfish and its actually harmful, take about what he said about his sister his sister has done so many wonderful things in her life for so many other people, just something to keep in mind i urge everyone if you get a chance make sure you read the bourne buffett letter today i read it on saturday and i had chills im not going to joke i really had chills and felt so good in part americana and part hopeful, it was a wonderful journey for a wonderful life and of course the load to Charlie Munger is something you dont see all the time something that im going to take a backseat it was not me, this guy came to me when i bought burke shire and told me all the mistakes i was making in Warren Buffett did something that i think we can all learn from, he listened. He actually listen to criticism and while he and charlie made history no doubt about it, Warren Buffett lived a life and i truly appreciate him sharing the snippet so much. Someone that knows Warren Buffett very well will take you to the next hour of trading. I know you read the letter you mustve got chills as well. Every year its really intense and its also a lesson in investing. When he talked about how Charlie Munger went to Public School omaha Public Schools, every buffett going all the way back