Im charles payne. This is making money. Breaking right now wall street is coming around to a. I. , playing catchup as a matter of fact. There were flury of up grades this morning but great youre playing catchup. Youre ahead of the game. The bears have made a trench. Beware, this market is going to fall apart. Microstrategy is on fire. Theyre calling Michael Saylor, the moderndaybunk bunker hunt. That is not a good thing to be called. He was ridiculed and laughed at. Talk about a special guest how expensive taco bell is. Scott martin is back. Looks like he is having the last laugh. My takeaway on the again, once again, where the market and the street are all off base particularly when it comes to main street. We have a lot of evidence on that today. All that and so much more on making money. Charles all right, well i guess you could say better late than never but all of sudden wall street cant get enough of a. I. , right, including nvidia at the top here. Bank of america now, they have hiked their target on nvidia. Also Cantor Fitzgerald today. So wall street is starting to pile in. But it is not just, not just nvidia, right, the whole sort of a. I. Complex. Look at upgrades this morning. Microsoft, evercore said 475dollar stock. Amd, broadcom, palantir, 35 bucks at wedbush, wow. Smci, remember smc i85 dollar stock . 13 at argus. 725 netflix at oppenheimer. Wall street in but could have told you sooner. Nevertheless there is lot of anxiety and ominous signals. People are saying this is a bubble. This is sort after complicated chart but its not. On the bottom are your pe ratios. On the side are the percentage of the s p happen to be trading at those levels. If you go back to the green, back in the tech bubble days, you had fair number of stocks trading at pretty high pe ratios. Look at these pe ratios, 20 and 30. You have more in the current rally trading at 20 pe ratios, 30 pe ratios, 35 pe ratios, 40 pe ratios a lot more know than then. That scares the heck out of a whole lot of purists. So does this. This is exponential weighting. Everyone is on the bandwagon. When everyone buys something everyone is on the band wagon. Wall street is really, really concerned about that. At least the Old School Wall street is. Maybe this will clear a lot of things up. Theyre calling it the a. I. Wood stocks. Thats right, nvidia Gpu Technology conference there is supposed to be a whole lot of jimi hendrix moments there. Will this be the woodstock that gets everyone on the bandwagon . Lets talk with someone who was there first, divine ceo, sylvia jablonski. You were talking about this stuff a long time ago, would report numbers go down 40 t was a tough ride, it was a very volatile ride. A lot of naysayers. How does it feel theyre all jumping on the bandwagon . It feels pretty good. To your point, during the 2022 tech crash i was sort of a buyer on these stocks because i knew something would happen in this space. We launched aiet if years ago in 2018, it took this long to play out. Charles it played out so big. So big and so fast but that will temper. You have this massive going to continue to grow. Nvidia youre talking about revenues done from seven to potentially 100 billion in two years. Charles its just nuts. Yeah. Charles there is though some anxiety, i saw this in the information, this is a pretty good piece for everyone to subscribe too. Amazon, google, quietly tamping down generative a. I. Expectations. My initial thought was maybe it is because amazon and google arent keeping one the rest but is this the time to be tamping down expectations when everyone else is ramping them up . I think what theyre doing theyre running their business more efficient i. I dont think they can continue to spend Running Software because it is very expensive to do that. I think they have to better match their supply and understand their demand story. For some of the companies that are leaders like nvidia again you already have them selling charles this is the is tipping point, like the starting gun went off. It might not be for them. Charles for google and amazon that may be more sour grapes instead of hey, lets everyone calm down here . Theyre clearly trying to catch up. Theyre making lot of invests with companies in a. I. Well very to see what they do, with their different chatbots and things like that but for nvidia theyre seeing gpu Adoption Across the board. Charles do you think that will live up to the hype, the a. I. Woodstock . I think so. Charles there is the old anxiety out there, exclusive u. S. Must move decisively to avert extinction level threat from a. I. This is from a government commissioned report. Move decisively. Are we talking extinction level threat from a. I. . These things get overbroken and under blown on so many level there are a good amount of dangers on a. I. That have to be discussed. We need parameters build in for a. I. Charles this is so large, so fast, moves quickly the generation is on the way out, by the time we have eureka moment it will be too late. Will be able to pull the levers . I think you can see some of the flaws in a. I. To work now. They have a lot of work to do to get this fully efficiently so we have a lot of time to work that out. I think the benefits outweigh the risks. Talk about the stock you like, i love this quantum stuff this is a quantum play, form factor. This is one hell of a move. This certainly outperformed the broad market and not back to its ol high. Is it time to buy this one . The reason i like this stock, they are creeping up for me. They have cryogenic systems. They cool Quantum Computers as theyre doing multihigh speed data processing. The only company that does this super micro up a million percent. Up 300 this year. You had the price outlook chart up earlier. Is arguably the second one in that space. They also test the validity of chips. They work with Companies Like nvidia to check the quality of chips. So theyre in a good spot. Charles you said enough to convince me. Thank you. Charles congratulations. You have been killing it. Wall street is chasing a. I. There are powerful voices on the street that still hate this rally. I mean i got to show you, of course you probably know some of these folks. Jeremy grantham, he is saying hey, the bubble is here. Its going to burst, eventually it is going to burst. Morgan stanleys mike wilson, the guy has won strategist of the year every year for last three or four years but he has been wrong, really wrong for a long time and he sees no reason to raise his s p 500 target. My next guest says history suggests there will be sort of a digestion of these gains and then a 100 track record of rallying over the next 12 months. I want to bring in cfra chief investment strategist sam stovall. Sam, walk us through the scenario, when youve seen, where we come from, how we digest these gains, and the next leg higher. Hey, charles, good to see you again. Yes on january 19th of this year we recovered all we lost in the bear market of 2022. Going back to world war ii the market tended to continue to rise after recovering all from the prior bear by about five to 7 over a one or two month period but then it stumbled out of exhaustion into a decline, averaging about 8 but never more than 14 and then after that resetting of the dials, if you will, the market was higher 100 of the time after bear markets that were less than 40 like we were back in 22. We were up more than 12 12 months later. While that is not guaranteed it is and encouraging one heck of a statistic. Charles you say to the audience, these rallies have tested and there is digestion period. You dont want to blink and maybe be a buyer on the dip . Absolutely i would much rather buy than bail. Certainly there is frothiness out there. If you look to the cnn fear and greed indicator last week it was at extreme fear. The aaii membership poll just recently said that the bullish percentage was usually high and then when you look just listening to all of the strategists who like leapfrogging over one another with increasing their price targets on individual stocks or the market itself i think it indicates that we are due for some sort of digestion of gains. Charles you know, it is interesting though, there has been this steadfast opposition to this rally on wall street that kind of made me more excited than anything contrarian from main street. Sam, lets talk about your ideas with the audience. Dte energy, symbol, dte, Summit Materials and starring ga resources. This is a name i dont think were familiar with a lot of folks. I chose the stocks because we have buy recommendations from a fundamental perspective and theyre showing very positive cyclicals. I say that fundamentals tell you what but technicals tell you when. Targa resources is a u. S. Based midstream logistics company. Because of increased u. S. Gas processing and with western europe continuing to unwind its dependence on russian gas i see this stock as being a winner. Charles Summit Materials . Okay, Construction Materials company, not surprisingly. Robust longterm underlying Growth Trends as well as attractive valuation relative to its peers. Charles dte energy. Okay utility, multiutility. Should benefit from a recently favorable rate case ruling and also it has longterm positive earnings and Dividend Growth expectations. Charles yeah. By the way, sam, im starting to really, really love these utility plays as a play on us running out of energy to power this a. I. Revolution. Hey, before we about, i have less than 30 seconds to go, what is your biggest concern right now . Well i guess the big, very big concern is what we cannot forecast which is geopolitical in nature it. The expand expanding of the middle east tension to include hamas on the northern border with israel. Also just by how much will the sabrerattling be coming out of russia indicating nuclear weapons, et cetera. Those are always concerns for me. Charles sam, thank you very much, my friend. You are really great. We appreciate you sharing it. It is really good also with the new ideas. Thank you, charles. Charles something off the beaten path with someone with a long track record like that. They poked fun at him. Remember that taco bell at him. Everyone had a lot of fun at Scott Martins expense but guess what . He was right. He is with us next. vo what does it mean to be rich . Maybe rich is less about reaching a magic number. And more about discovering magic. 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And we could all unexperience this whole session. Okay, thats uncalled for. Charles well turns out my next guest was way ahead of the curve when he started pointing out how ridiculously expensive it is to eat fastfood. His keen observation didnt sit well with the mainstream media. He became a target. Admittedly inflation is, yesterday i had a nice lunch at taco bell. Cost me 28 for taco bell at lunch. People need to pay for those things, getting jobs, getting active in the economy. Wait a minute, you spent 28 for taco bell for yourself . For lunch it is true. That is a lot of. This man said he spent 28 at taco bell. He need as well insist check. The police go out right now. Charles i have to admit that was so funny i was cracking up for days. Since then there have been some other postings have gone viral, including the big mac meal, that one 18 bucks. A week or so, ago, five guys, it wasnt even lot, one bacon cheeseburger, regular soda, a little fry, not even a big fry, 24. Joining me Kingsview Wealth ManagementInvestment Officer scott martin. You tweeted that out. You talked about that october of 2022. They laughed at you. They made fun of you. Now everyone is posting these things. You were so far ahead of the curve you now feel vindicated . I feel vindicated better after i digested the food i had and youre right, we were ahead of the score as far as fox business, telling american people, telling joe biden, telling the administration, they didnt know it at the time, inflation especially on food is out of control. Funny nowadays, charles, you have go anywhere have a nice lunch at taco bell, 28, 35, 40 on lunch if youre not careful. Food prices are out of control, the key takeaway, theyre not coming down either. Charles that was crazy, on grubhub, regular stuff costs so much money. You mentioned the biden administration. More serious note, 18dollar big mac woke everyone up. They tried to circle the wagon. Conservative commentators linking big macs and biden inflation. Of course they have. Talk about how policy, how does that work . How does policy eventually affect the price of a cheeseburger . Well lets see. How about regulations on businesses. Oh, my goodness. State of the Union Operation last week, or state of the union episode at you want to call that exposition, taxes on businesses are all going up. Regulations like i mentioned too. The fact that supply chains are constrained, International Relations are not good. All these things coming down the pike, have come down the pike so far are things that go into, yes, mom and dad that expensive big mac you pay for. The administration talking about everything they will do for the consumer and everything they will do against American Business is killing the consumer, killing the prices theside of say a big mac. I want to wonderful house on my way up florida, 24dollar breakfast at my favorite waffle house in the world in georgia. This will not get better as long as this administration is in charge. Charles by the way, folks, next leg of war on capitalism and america, are farmers. If you think your prices are high now, wait until they go to war with farmers. You like areas of interest, pharmaceuticals, industrials, consumer cyclicals, financials. Youre moving away from all the sexy stuff. Were doing a segment with dr. Siegel later on pharmaceuticals i like you mentioned that. Why consumer cyclicals, why there . Is this part of the conversation were having . For me unlikely to move away from the sexy stuff but for you i will do that industrials, financials, cyclical stuff globally has been kind of left behind. There has been points, there have been times things come out and things lifted those boats they crash again, they go down. Sexy stuff, tech, all the Consumer Discretionary turned around as well or turned back up. In my mind we have to look at valuations today. The market is getting a little extended. Getting euphoric. There are great things in tech. For ideas i like caterpillar on the industrial side. I still like the Regional Banks my man. We talked about these a lot, fifth third, companies, kbe, Regional Bank index, comerica is one we owned since the banking crisis of yesteryear. Those are areas you can find really good valuations here, reasonable prices, good upside, dividend in the stocks comparable to where the 10year treasury note is. Charles before, real quick, when i hear someone say i like pharmaceuticals, i like the drug companies, essentially they say i like eli lilly or novo. Really . Charles any other areas you like in the space . There are. It will sound crazy, one of those things darkest before dawn. I like merck, not as bad as the second one, brace your ears, bristolmyers. Pharmaceuticals are developing nice thing outside of eli lilly. Merck around bristolmyers on valuation basis, looking at cash flows and Balance Sheets, companies versus eli lilly which w