Oracle's Earnings: Oracle reported outstanding earnings, with significant growth in cloud infrastructure revenue, projecting a 77% increase this fiscal year and further substantial growth over the next few years.
Stagflation Concerns: The podcast discussed the persistent high inflation rates and the potential signs of stagflation, raising questions about the reliability of economic data and its implications for the market.
Market Reactions: Despite significant job number revisions indicating negative job growth, the market remained resilient, suggesting skepticism about the accuracy of economic data.
CRISPR Technology: Mars is partnering with biotech company Pairwise to use CRISPR technology for developing more resilient cocoa plants, highlighting innovation in agriculture and potential impacts on the chocolate market.
Congressional Stock Trading: A new bill proposes banning stock ownership for Congress members to restore trust, though skepticism remains about its potential passage.
AI Investments: OpenAI's projected cash burn has sharply increased, reflecting the high costs associated with developing AI technologies and raising questions about the sustainability of current AI investment trends.
Apple's Product Launch: Apple's latest product announcements, including new AirPods and Apple Watch, were seen as incremental updates, with some questioning the innovation level and impact on Apple's stock.
Transcript
Hello and welcome to D'vorak Horowitz Unplugged, an hour-long discussion of activity in the financial markets around the world featuring columnist John C. D'vorak and money manager Andrew Horowitz. This conversation is casual and unrehearsed. Let's join John and Andrew now. >> I'm John Cedorak. >> And I'm Andrew Horowitz. >> And it's the 9th of September, the day to remember 2025. Yeah, it's a day to remember because it's gonna be a great show. It's going to be a wonderful show. Not to mention uh so many exciting things happening in the world right now. We have uh and Oracle's earnings after the hour after the close which was outstanding. I mean just wow. So we'll talk about that. Also going to talk about stagflation. You know we've talked about this many times over the years. the idea that you know what stagflation is and and what it isn't and the economists and analysts call for stagnation 10 times and it happens once and the question is is this time going to be different? >> Obviously the famous last words, right? >> But but is this time gonna different be different? Because >> we actually seeing the signs of stagflation. We're seeing that inflation is staying persistent and persistently high and especially with today's numbers. Oops. Oh my. Talk about a revision dating back to one of those years that you never want to hear those. You know, there's certain years that you never want to hear when you talk about finances. You don't want to hear about, you know, 2008 or when they say 2008, 2009. um you don't want to hear about, you know, 1987. That just rings a bell, right? It's it's a trigger. >> Yeah. It's flash crash. >> So, one of those things that's happening with what we saw today with the revisions on the jobs numbers goes back to one of those dates. So, we'll talk about that. People in glass houses, stupid politics. Oh, yeah. We got a lot of that going on. And um bittersweet news. We're still here. John and I still here. Which means only one thing. You know what that means? >> It means uh No. What does it mean? >> We did not win the Powerball. >> Oh, yeah. The Powerball. >> Now, I know it wouldn't change your life at all, would it? >> No, I would do. I would just give the money to charity. >> Yes. >> And continue on my merry way. >> Yeah. Nothing would change. You wouldn't buy any special like if you if you had some extra >> Would I buy a Ferrari? No. And not because I wouldn't want a Ferrari, it's because it's too much hassle to keep it up maintained. >> Okay. And and and if I won, who the hell would want to pay the taxes anyway, right? >> Right. But if you were to buy a case of wine, that's not it's not some crazy thing. But if you were to buy a wine, if you won, you know, if you want I'm setting the stage for you winning this Powerball, and you were to buy a wine that would be like h I don't know, maybe what would you buy? If I just had nothing but money to spend, I'd buy Romani Conti. >> And what is that? >> It's a burgundy that's very exclusive. It comes right out. I think I don't know what the current price is, but when it's released to the public, brand new, it's like 10 grand >> for a bottle. >> Yeah. >> Wow. That's pretty impressive. And it only it only goes up from there. >> Yeah, it only goes up from there. >> But then you question, is it really that good to drink? What about a drinkable? Something like I mean is there something like I don't know. I don't know. I know the wine flows your boat. That's why I'm asking because I mean I don't know what I would do. I mean would I buy a Ferrari? Probably not. Difficult to get in and out of that car to be honest with you. >> You've ever been in and out of a Ferrari? >> It's it's it's you it's you it's you it's you it's you it's you it's you it's you it's you it's you it's you got to you got to get down low. >> Ferraris are unbelievably comfortable. They're easy to get in and out of and they and for some unknown reason the visibility is incredible. >> Well, I was in the vet. That was very difficult. >> Well, I mean that's but especially the new one. >> The new one's very difficult. You're kind of like you're like laying halfway down >> on a weird angle. So Okay. So So Romani Conte is what you'd buy. You don't Nothing Nothing else floats, right? That's what you do. That's it. That's it. >> Well, that would be Yeah. the one thing if I had it, you know, I had money to throw away. >> Wow. 10,000 a bottle, guys. Got expensive taste. Very impressive. Um, and they say, by the way, the another thing we're going to talk about tonight is they say would never happen. They say it's never going to happen. It will never, won't ever. Uh, a ban on stock ownership for Congress coming around and making the rounds again. >> That, you're right. That's never going to happen. >> Never going to happen. Who votes on that, by the way? >> Congress. >> Ah, yes. So, the idea the idea so stupid. Um but they'll they'll make a but they will make a run of it to make it look like they're trying. >> Yeah, you have to do that >> and and then what will happen is >> something will distract them and then the thing will get tabled and you never hear from it again. >> Yeah. Never again. Never again. >> Um some other things we'll talk about crisper in chocolates. The idea of crisper technology which is gene editing, gene splicing being used in chocolates and the markets. Well, who what's what's driving them right now? still tech once again. Even though we saw that big slowdown in the first part of the year where everybody said, "Well, tech's done. That's it. It's over. Thank you. Hang your head up. >> It's come back." And like I said, the Oracle numbers outstanding. That's not even the right word. The Oracle numbers are mind-boggling. Did you I don't know if you saw, but we'll go to that in a second. Insane what what they what they accomplished this quarter. And by the way, stock is showing its results in a after hours up enormously. Not good. We have that for our clients. Nice position in that. And what's really interesting also is that they missed on their earnings estimate compared to analysts. So that's something I thought was kind of cool. Um, Sexy is back in retail. That's good. You know, for a while. What was what was what year? When was that? When the anorexic uh dirty pale model was a thing? >> When was the anorexic dirty model a thing? >> Yeah. You remember that? There was a lot of There was a time >> Yeah. There was a lot of these girls. They were all on heroin. >> Yeah. Right. >> That was the uh I think it was even called heroin chic. Um that was probably ending around the uh uh around late 80s, but it was pretty popular in the 70s. >> Yeah. You just is you just look like you're just dragged through the mud. >> You look like you're Yeah. on your deathbed. >> Well, the good news is sexy is back. So, some retailers are making some big waves with that. >> Gee, cuz it works. >> Yep. Right. Well, I think that's also a sign of the times for a while. You know, fe feminism has gone through uh and so has, you know, the the the idea of what is a man has gone through a range of of definitions, societal definitions over over time. And so we're I don't think this is anything that's more than a cycle. It will go to something else. I mean may maybe you know uh something totally different in five years from now but right now the the pendulum has has turned and sexy is back. Um and the other thing we want to talk about tonight is the um market's taking a stride of just a a just a mere miss just a mere restatement of the jobs on a year-over-year basis where we knew there was some changes. Remember that we saw like a couple hundred thousand last few months. >> Yeah. Well, the number is in of what the year-over-year is. Do you know what that is? You want to take a stab at it? >> It's lousy. >> 900,000. >> Now, let me ask you something. >> You need 150 a month. Uh, so it's low. >> So, it's like 80,000 a month. It's like we didn't have any job growth through. Forget about the >> So, that's half Well, that's actually negative job growth. >> That's correct. replacement is 150,000 a month. That's a number people got to keep remembering, >> right? >> So then in other words, no job growth is 150,000. >> Exactly. So we've lost jobs on a net number when you're talking about what the requirement is just from this. And by the way, John, I think people need to understand why why is why is 150,000 required? I mean, you have people dying, you have people retiring, you have you have you have businesses that are growing, the the uh you know, GDP growing, businesses grow. There's all these things that go into why you need to have extra workers on. >> So, replacement 150,000 represents the number of people that retire, quit or die in the workforce a a month >> and that has to be replaced. So you get you so that 150 number come should come in every month that so everything everybody that just dropped dead or quit or retired and a lot of people retired they actually rec retire uh that number has to be replaced to keep jobs uh steady and if it's not replaced and then then we're losing we're lo losing workers. >> Yeah. Crazy, right? >> Well, it happens. >> No, what we saying is crazy is that we have 900,000 revision. Yeah, the revisions. Yeah, >> everybody's all, "Oh my god, he fires." >> Guy was watching. Guys go on and on TV and they they yak yak yak about this. The problem is this oldfashioned people aren't sending the surveys back anymore because it's all by done by mail. The electronic stuff doesn't work. They they don't do nothing's done correctly and we can't trust any of these numbers and they fired the last person because they didn't like the what she was doing and the new person is worse and it's just one thing after another. It's it's it's gotten to the point where it's like I don't know if we can trust these numbers. >> But you know what's going to happen? >> You know what's going to happen >> next month? All eyes will be peeled on the jobs number. What is it going to be? >> Absolutely. Even though everybody knows at this point, not only listen, I do not I truly do not believe that there was any to a large degree I don't believe that there was any hanky panky going on with these numbers. I think it's just a bad model. The problem is not just that they can't count. It's they estimate. That's the problem. They estimate. >> Yes. Yeah. >> Because they don't get it in. So they do an estimate. Estimations are the problem. >> Exactly. >> It's like global warming. >> Yeah. Right. They're using trends and the trends don't work. >> Oh, it's hotter today. Global warming. It's colder today. Global warming. You know, whatever. And you always remind us about the last ice age. When was that? >> When was that supposed to happen? >> Any ice age? It wasn't that long ago, actually. >> No, but when was it when was everybody freaking out? There's going to be an ice age coming. >> Oh, that was in the 70s. Yeah. for the entire decade of the 70s right into about the first probably the first six months of the Reagan administration and I have tapes cuz I did some air checks of some radio shows back in the 70s and 80s because I'm a nerdy audio kid and I still have one tape which I haven't rolled out on no agenda yet from about 1979 or 19 it might may even been 1980 where the local left-wing hippie rock station just went on and on and on and on about global cooling. It was it's the funniest thing you've ever heard. >> And and and again, here's the thing. As looking back on that, we know that was not right at the time, right? It's so ridiculous. >> Well, there's some people that think it's still right. >> Well, okay. There some people think the Earth is flat. >> No, some people with some with with some evidence think that that we may be in a cooling cycle. >> But the problem is we don't learn from the lessons. You beings by nature don't learn. And that's why the stock market is a fascinating place to be. That's why it runs on emotions. That's why there's inefficiency. And that's why you can make money from this. That's the beauty of it all because we all think it's an exact science when in fact it's a dismal science. It's an in science. >> Yeah. Science. >> I don't think so. So anyway, um Powerball jackpot $1.8 billion. Two winners, one in Texas, one in Missouri. That's not the best part, I thought. Even though each of them can choose either um an annuization of I think a 20-year period of $893 million each over, I believe 20 years, that's a whole heck of a lot of money. Or get a lump sum payment of 410 before taxes, >> right? >> 410 before taxes. By the time you're done, you do your little work. It's not like you're like, "Hey, what's the standard deduction? I'll take that this year." That's not going to really matter, but let's just call it um I'm just going to pick a number. $150 million in taxes you pay. You're left with round number 250. Not a bad number. >> No. If you want $250 million in your pocket. >> Yeah. In your pocket. You put that in a 4% uh tax-free bonds and what do you get? You get what? $10 million a year of income. >> You get more than Yes. >> For doing anything? >> For not doing anything. Well, you did something. You you invested that money into a Yeah. >> into a bond that which >> is a loan. >> $10 million a year. H uh additionally, two lucky tickets sold in Kansas and Texas. So, Texas got the big numbers here. Won $2 million each. 18 tickets sold across 13 states won u $1 million. >> Yeah. It was actually in Fredericksburg, Texas, where Adam Curry lives. It was. >> Yeah. You didn't know that? >> I didn't know it was in Frederick. >> No agenda more often. >> I I sorry. It's only Tuesday. It was on Sunday. >> Takes me a couple days. >> The big the big Powerball winner was in the Texas winner was in Fredericksburg and he bought it at a local gas station. >> I've been to Fredericksburg with you. We were at Adam's house. >> We go to We went out to Fredericksburg to go tasting maybe. >> Did we go to No, was this >> No, we were in Austin. We were nowhere near. >> Oh, yeah. Yeah. I don't think we went I feel like we went to Fredericksburg. >> No, I I'm sure sure of it because Austin, he had the apartment. He built the house in Fredericksburg, didn't he? >> No, no, no. He had No, he had a uh house in he first he was in an apartment in >> I was in the apartment and I guess >> then he went to a house in Austin just in the outside the city limits. >> Maybe that's the case. Yeah, maybe that's the case. Uh so I thought it was in Fredericksburg, but maybe not. Um now >> Fredericksburg is out there. Yep. So is Adam. So there you go. >> So back to just 20 million now. Uh the odds of winning were um one in 292 million which is pretty good. So that's pretty good. Uh Glass Houses, you know PY, the guy that's in charge of the um housing administration or whatever is in charge of it there. Do you know? >> Yeah. >> Do you know who he is? >> No, I don't really. He's the son of the founder of PY Homes. >> Oh, well, that's probably a good gift for the job. >> He's 37 years old. He started his own firm right out of college. He's uh he's a he's uh on the board. Who would have would have thought of PY Homes. He started uh an investment firm of some sorts. Uh I'm sure getting the seed money wasn't very difficult from dad and his friends. >> Yeah. So he's the um actually oh that's interesting. So Mark Py wait a second I need to look this up. Here's the thing you know he accused Cook and he's getting Cook fired for putting you know primary residence on both these deals on on both there. Cook, Federal Reserve. Um, >> yeah, that little lady, >> she's she's being, you know, harassed, fired, all this what's going on because she put down primary residence on two of the properties she owned. Right. >> Right. >> By mistake, whatever. But why would somebody do something like that? They do it because if you create a primary residence in many states with a property, particularly like say Florida, what happens is that you get homestead exemption and lower tax costs. So, you put that on there. Now, who's checking? >> I thought you just got better mortgage rates. I don't know. You got lower tax. >> Maybe. No, definitely lower tax. If you have your primary residence and this there's actually asset protection potential in the state of Florida, your house is protected if it's homestead from the claims of creditors. >> Does she have a place in Florida? Cuz I know that's not true here. >> Uh, I don't know where she had a place, but I need to look at something here. Founder of PY Homes. This is this would be funny. Bill Py. Okay, we got Bill Gil Billy. Let me see something here. Billy. So, who's Mark? Who's Mark? If Bill Py is the son of the founder, who is Mark? H I got to look at that. I got to look at this. Well, supposedly Mark and Julie Py, the father of stepmother of Bill Py, President Trump's appointees as director of the Federal Housing Finance Agency since 2020, have claimed so-called homestead exemptions for residents in the wealthy neighborhoods in both Michigan and in Florida. >> Oh, that's interesting. >> Yeah. So, that exemption is meant meant to give a discount on homeowners on taxes for properties that they use as their primary residence. Local tax officials in both states told Reuters that claiming more than one home as a primary resident isn't generally allowed in the jurisdictions and can be punishable by fines or backed taxes. After they found out about this, the tax officials in Bloomfield Township in Michigan, um they revoked the exemption on Py's residence there. Now, here's the problem. all this crap that's going on. We know that there's a lot of shenanigans that go on in government. Well, with people, forget government, with people in general, right? You start digging digging enough on on certain people in certain high level places, you're going to find something. The problem with setting precedent are trying to do this kind of thing, what they're doing to cook is that they're going to uncover this kind of stuff on a lot of other people. >> Yeah. I think probably half the administration and half the Democrat party and half the Republican party. >> And you may say, well, that's a good thing. this shouldn't be allowed. I'm all I'm all with you on that. However, the more you start doing this kind of stuff and this political uh executions, it's going to hit you in four years from now, don't you think? Or six years from now or eight years from now, wherever it is? >> No. >> You don't think it's going to happen? >> I think it's a good thing. I'm completely for it. >> You think that they should basically just shoot each other to death? >> Yeah. >> Just kill just set them up in a room, give them all guns, and let them just go. Well, I mean, I wouldn't do that because there's some illegality concerning some an action like that, but I would. Yes. Basically, you got these laws for a reason. You're either going to do them just to make them dead letter laws and forget about the whole thing or or or make the laws put the laws in action. They're why are they there for in the first place? >> Yeah. Uh I I agree. I agree that you should should uh stick with it. By the way, uh quick note here. He is the grandson of William Py, the founder of PY Group. >> Yeah. Well, he should know better. >> Yeah. Well, well, that's that's that's William John Py who lives in Boca Raton, Florida. Everybody lives in Florida. Everybody's coming down. Uh we have a beat your ass moment. Uh it seems that during a recent uh dinner with PY again, PY somehow got under Scott Bessence, the Treasury Secretary of Skin, and Scott Bessant was pissed. He said, >> "Oh, this is because I heard about there was a blowup, but I didn't know who it was with." Because I know Bessant's a hotthead. >> Yeah. So, it was I guess at a birthday party for Chamath Polyhapatia. I only say his name because it took me a while to learn. >> You must have rehearsed that. It took me a while to learn how to say that name because I always thought he was a big ripoff artist and he was um he is the Pied Piper I call him of Spax. He was the one that originated all that. Took all the money and ran with Virgin Galactic and a few others. But nonetheless, um interesting and smart fellow. Very smart. Maybe too smart. But I guess he was had a party. There was 30 people, all these people there. And Besson anyway Besson says, "F you." He didn't actually say the f by the way. I'm going to beat your ass. punch you in the effing mouth for bad talking me to President Trump. He said something like, "Either he's leaving or I'm leaving." Pauly said, "Where are we going?" Best says, "Outside." To do what? Talk? No. I'm going to beat your ass. >> Is that right? >> Yeah. I just I let read the whole this whole >> documented this >> is I'm political. There's a few places. There's a few places. >> Real class act, huh? And Besson's the gay guy. >> Besson's gay, >> isn't he? >> Yeah. You don't know that? >> Oh, I guess he is gay. Yeah. Yeah, >> he's out gay. >> Yeah, >> it's not like a secret. >> I guess saying beat your ass if you're gay is not >> doesn't hold the same >> Yeah. You don't know what he's talking about. >> The guy should there opportunity abounded for for comebacks. >> Chocolate editing, candy market. We'll get back on track here with some really interesting financial and business topics. Um, candy maker Mars said Wednesday that has partnered with biotech company Pairwise to speed up the development of a more resilient cocoa using crisperbased gene editing technology. So crisper is this technology that it's a tool actually. It's a kind of interesting tool. I it's not exactly this but I want you to envision this everybody. >> You keep putting it in the game. >> I like crisper. I like the I like the concept. There's a few companies out there that do it. Very interesting. Um, we hold it for clients. I hold it for a very long time personally too. Um, made some very nice money on it. So, the crisper technology is this gene editing tool. Think of think of the genetic sequence of a DNA, right? The the chromosomes that are wrapped on a double helix blah blah blah, you know, the whole thing, right? And the let's say there's a few genes that are just not right. Right? They're they're they're not the right chromosal something or other. There's something not right about the whole thing. Basically, this is like a little thing. Think of it this way. It's not really, but think of it this way. It's like a little robot you you put down there and somehow it hits all the genetic code from all the DNA DNA sequences, snips it, and then replace it with the right code. Please don't ask me more about how that exactly works because I can't tell you. But that's the gist of it. Pretty unbelievable. And you know there's a lot of questions of well if it could actually do that couldn't we create you know some superhuman in vitro >> or a guy with two heads >> right yeah so pretty interesting they're doing this with cocoa now and the goal is to create actually cacao plants that can better withstand disease heat and other climate related stress that can put global chocolate supply at risk because we saw what happened with the chocolate prices recently. They went through the roof. And by the way, if you haven't heard, the hottest, most exciting chocolate that people are talking about for some reason. Have you heard about this? I just heard this. >> Uh, no. >> Dubai chocolate. >> Do I buy chocolate? >> No. No. No. We'll start again. One word. No. No separation. Dubai as in the place. Dubai. >> D U B AI. >> Yeah. Dubai. Like like in in United Arab Emir Emirates. >> Yeah, I've been there. >> Okay. Well, it's called Dubai Chocolate. It's basically Do I Do I buy chocolate? >> Yes. It's a basically a Yeah. Who's on first? This is basically a a chocolate um that has this really rich, very exquisite pistachio cream layered inside and then chocolate on the other side of it. So, it's like a instead of like a caramel with chocolate, it's like a pistachio cream. It's delicious. Big >> There's our plug for the show. >> Yeah. Uh but here's a public. You can buy it anywhere. Just go anywhere. I haven't seen it anywhere. >> Maybe we have a a listener that makes this stuff. >> How you can send us a a couple of bars or whatever it comes in or chunks. I don't know how it's >> uh they're in bars usually. Um small bars. I've seen Well, I've seen them a lot of different ways. I had a Dubai chocolate tort the other night. >> So, this is the replace Reese's. So, instead of peanuts Yeah. >> and chocolate, we're going to go with pistachios, >> right? Different flavor profile entirely. So, and so, so if the dog eats this, >> yes, >> they get killed two different ways. >> Pistachio is not good for dogs. No, >> it's not good for anybody. Pistachios is one of the few toxic plants that only humans can eat. >> Really? >> Yeah. Look into it. It's very fascinating. Most animals cannot uh they it's a poisonous plant basically except for us for some reason. And it's delicious, right? Delicious. I love it. >> I love it. Okay. Um let's see. Oh. Uh, one thought, one issue, one comment. The I was wondering about this cocoa cacao. Cocoa cacao. Does anybody know? Do you know the difference? >> No. You, but you're going to tell us. >> I'm going to tell you the difference cuz I looked it up. I do all the hard work for everybody listening cuz I have to know. >> You mean you you mean your AI does? Well, I didn't I didn't go I didn't go to Costa Rica and visit a forum and ask them directly, but although I have been to the northern let's see the northern part of Panama into a cacao farm and I did learn how they make chocolate from the actual cacao seed pod. >> Oh, that would be fun. >> Yeah. And I brought some home and I think I told you at your suggestion many years ago, one of your secret ingredients in Chile is what? >> Well, chocolate's one of them. >> Correct. So, I used the Panameanian cocoa uh powder that I got up there, put in the chocolate, and won the competition that year. That's a true story. >> It works. >> It works. Works. Um the main difference between cacao and cocoa is cacao is minimally processed and remains largely raw and nutrientdense while cocoa is made from roasted cacao beans that have been processed at high temperatures. The heat and processing affects the cacao's nutrient profile and flavor making cacao powder more bitter and richer in nutrients and cocoa powder milder and more suitable for baking. And and and next time you have a piece of especially dark chocolate. I want you to for a moment close your eyes and notice the smokiness of it. Notice the smoke profile there. The way that they take the the beans inside of they they they take it through a a heating process to make the cocoa. And that usually happens in a smoky environment, you know, with a smoky bin. >> Yeah. Like scotch. >> Yeah. like you like one of your favorites as I remember from many years ago. Lagavulin. >> Yeah. Well, Lagulan's one of them, but Leafroy is actually is probably the one I would pick over that. And then there's Cow Isila, which is the smokiest, pediest scotch that you can get. It's hard to come by. >> And and Leafroy's problem is you got to get it older. The young Leafroy is hard to drink. But the why why is you like the what's the pedia one? >> No the pediest p the to my taste leafroyg is up there with the pediest ones but it has to be aged a lot. It has to be at least 15 years old before you can even choke it down because it's really harsh. But the pediest one I think generally speaking is cowila and and it's >> from is that >> it's it's it's it's from the from the ISA region which is it's c a o i s l a y something like that and it's very light. It's they don't put any coloring in it so it looks like you're drinking it's very light colored and it's intensely pey. >> Well you like the pey I don't >> Yeah I like the pey. I mean I why why am I drinking this stuff if I'm not tasting it for the pee? >> Do you like do you like um mscal? >> I do I don't hate mscal. I don't seek it. I my son had brought in some some very authentic mscal mscal from Mexico including this some of the stuff that's actually illegal which is the best. Uh where they have a turkey and the must they throw a dead animal in there to make the the mscal. What >> and it's delicious. Yeah. Yeah, I like mscal, but it's not pey. >> Did I Did I I'm sorry. I go with the worm in some of these things, but you're talking about a entirely dead animal carcass inside of my drink. >> It's not in >> pretty much. I mean, I It takes some explaining. >> Take it takes wild turkey to a new level. >> All right, Google for the win. Google shares popped 8% on Wednesday last week as investors celebrated what they viewed as minimal consequences for historic defeat last year in the landmark antitrust case. In other words, the courts went through it. It was like this whole thing and oh my god, they're going to have to separate the search from the chrome. >> I didn't think this the stock I thought they figured that Google was going to win this thing and this stock was not going to go up that much. >> It's it's it's because this market is very reactionary right now. every piece of news. You could say the same thing every single day and the market would think it's a brand new news. I'm I'm telling you, >> it's nuts. >> So that's why why why Oracle did what they did tonight with the guidance they gave. We'll talk about that again. Anyway, last year Google was found to hold an illegal monopoly on its core markets of internet search. And there's a pole hub that oh my god, what if they have to give it away? They get paid so much money, billions of dollars a year from various companies like Apple. Well, they pay Apple, but they get from other places and they make money from here and and they got the Chrome and uh this whole thing basically says, well, in light of all we've seen, the courts have said Google will not be required to device Chrome, nor will the court include a contingent devesture of the Android operating system in the final judgment. Plaintiffs overreached in seeking forced devestature of these key ICE assets, which Google did not use to affect any illegal restraints. Knock on. Uh, Apple was up 4% on this as well because Apple gets paid to have Google search as the main uh, search engine for the iPhones. >> Yeah, but Apple's also up because of the supposed roll out of another fancy phone. >> No, we'll talk about that. That was two days. That was today. They were down. They're down today on that. This is two days. This This is a direct reaction to that. All right, let's talk about sexy, shall we? American Eagle said his campaign with actress Sydney Sweeney has so far led to positive gains in new customers and sales. >> The clothing retailers, >> she knows how to sell that girl. >> Well, does she? Well, I'm going to I'm going to question this. The clothing retailer issued fiscal second quarter earnings that beat expectations on the top and bottom lines. Um, it reissued its fullear guidance and now expecting lower operating income because of tariffs. stock was up 20% in after hours last Wednesday. Now, here's what's really interesting. You know, you got to read the details. You read just the first couple of paragraphs, you know, you get mesmerized by the picture of her. It's all so sexy and they and and you get you read all the the comments by the the various people um like the fall season is off to a positive start fueled by stronger product offerings and the success of a recent marketing campaign with Sydney Sweeney and Travis Kelce. Hold that button that. Put a pin in that. Travis Kelty. We have seen an uptick in customer awareness, engagement, and comparable sales. question. Was it Sweeney or Swift, by the way? Is it the Swifties that are buying the clothes or is it the all about Sweeney? But here's the deal. >> I think I think Sweeny's got more influence in this regard because she got the most publicity for doing those ads and brought more attention to the company than the Travis Kelce. Uh I think people are getting tired. I think there's I would say Taylor Swift fatigue. So I don't think that really had much of an impact. >> Okay. So let's say that let's say it's Sweeney. Let's say Sweeney create awareness. >> Sweenie, what a name, by the way. >> Yeah, sweet Sweeney. So let's see that this is great. The marketing campaign was wonderful. Everything everything clicked and that turned into a beat. Here's the deal. Earnings per share with 45 cents versus 21 shares cents a share as expected. Wow. Doubled their earnings, right? >> Yeah. >> Revenue is 1.28 28 billion versus 1.24 billion expected. So they only made like $4 million more which is a minor differential $2 million two 2%. 3% 2 and a half%. Now the company reported net income for the first for the 3-month period that ended August 2nd of 776 million compared to 77.3 million a year earlier. So they only made.3 a whole a whole year.3. So what is that? That's $300,000. Yeah. They made $300,000 more in total revenue for the year. What the hell? What? This was a great campaign that brought in a whopping $300,000 additional or am I >> You should have had to pay her that at least that much. I I don't understand now. Maybe they're saying that. No, it doesn't make sense because we know that there's tariffs on this and there's very heavy heavy uh cost to this. So, that didn't affect their earnings and their revenues wouldn't change. So, I I don't understand this whole story doesn't make any sense to me. This whole deal and how investors got sucked right in and bought up bought in and I don't >> they got that accomplished. They added to their market cap. That was maybe what they were aiming for. Maybe I'll probably do an offering next. >> There. Boom. >> There you go. Uh, Congress, a ban on members of Congress and their families trading or owning stocks got new momentum last week uh after a bipartisan group of House members announced that they've come to an agreement on a new bill. >> The ones who the ones who shorted when they should have gone long. Those guys. >> Yeah. The Restore Trust in Congress Act, which is interesting that they even call it that. restore trust. Now, probably there's about maybe I would say conservatively 75 billion dollars of spending that will be in this in this bill by the time this is over, right? And probably giving all sorts of money back channeled so they don't have to trade anymore. >> Well, that would be one way of of solving the problem. Just direct bribes. >> Direct bribes. Um, so the Restored Trust in Congress Act, which by the way infers that there is no trust in Congress, that Congress is 44th. >> Yeah, I know. It makes it that's a bad name. >> Bad name, right? Exactly. Um, so combines several different proposals into one vehicle that supporters say will focus on the debate and lead to passage. Uh, any sideline bets on if this is happening or not? >> Well, you know what? I my bet would be the same as yours. So, we can't bet against each other on this. We both obviously don't think this is going to happen. Why would they do that? >> I I don't know. >> I mean, unless there's unless half of Congress got screwed by some scammer. I mean, most of these guys are made out. I mean, supposedly Elon Omar, who's like a just came into office. She's only been in office for what, a couple couple terms, maybe. And she started off with a net worth of 50,000. And now she's worth 30 million. They think at least 5 million, maybe up to 30. Who is this? How? >> Who is this? >> Elon Omar, the the Muslim woman from from the Midwest. >> How'd she do that? Through stock ownership. That would be best. >> They don't know. They're trying they're investigating her. How did she get all this money? >> All of these Congress people are loaded. >> That's not how it was when it all started. Well, that you know, it seems to me I'm not that the fact that these a lot of these trades are made public by people who do research and put up websites and say what this congressman's buying or selling. Uh, as long as that's going on and the fact that these guys, yeah, they have some, you know, somebody in has some influence on some legislation and he's investing based on that. But if it's public at all, uh, I don't have a problem with it. But it's late. Their disclosures don't have to make to way after. They get to buy the deals right when they hear it's going through secret chambers. It's non-public information that they're trading on. >> Well, I have mixed feelings about it. I agree. They shouldn't be trading on non-public information. >> Well, that's the only reason they get ahead. It's not because they're really good investors. >> Yeah. But the other thing is the non-public information doesn't mean that the stock's going to go up or down. You know as well as anyone else that a stock tip from an insider can tell you that this is going to happen that's going to happen. You you invest and the stock goes down. >> Yeah, that's true. This is true. >> And that can happen to them too. >> Although coincidentally it doesn't happen very often. >> No, cuz they make sure it happens. >> They'll figure it away. Apple the big event today. Apple announced a new AirPods Pro 3, taking the most popular headphones in the world to a new entirely new level. First of all, Adam, did you watch any Did you watch any of the Apple event? >> No. I got sick of these things. Watching Tim Cook is just It's just incredibly dull. >> I watched it. And let me tell you, if you took last year's event and just put Apple iPhone 17 on it everywhere and >> same event >> said something about being thinner or bigger or smaller or fatter or better glass, >> same thing. >> Like the same B-roll, >> you know, drone flying into the Apple thing, the guy in the black sho, you know, the black jacket like looking like um Jensen Wong uh with the with the black sneakers with the white souls. You know what I'm talking about. That look. >> Yeah. This is it's tedious. >> And they announced absolutely nothing. Here's the big takeaways. Number one, uh the world's best in-ear noise cancelling ruing two times more noise than the previous generation iP AirPods Pro and four times more than the original Air Pods Pro. Yoohoo. Now, for the first time, this is kind of interesting. The AirPods Pro can measure your heart rate and track over 50 workout types with the new experience in the fitness app on the iPhone. So, I don't know if >> So, but you got to get these things stuck in your ear all day. >> Yeah. All day. Live. This is kind of cool. Live transl uh live translation also comes to AirPods making face tof face conversation easier. This is the universal voice translator that they had on the Enterprise, Starship Enterprise. Yeah, supposedly. >> So, that's kind of cool. Um, >> if it works. >> Yeah. If you're in if you're on a phone call and somehow it's I don't know whose voice it is, but u or you're in a FaceTime call or whatever and it's doing a real-time translation. That's pretty cool. >> If it works. Yeah. How how do you have a relationship with somebody that you you don't speak their language anyway to be in a situation where you're going to make a FaceTime call to them? Like you don't you never talk to them because you you can't talk to them. Now you're like, "Oh, this is fantastic. I could call this person up who that you obviously never had a relationship with." Anyway, am I wrong? >> I don't I'm You're not wrong. It's cool as hell. This is like the days when I had the uh I told you the single sideband, you know, so your Yeah, you should get a ham license by the way and get it out of your system. It's not that hard. >> And uh I would talk to people in all these different places and they would speak these languages and stuff and you know that was really cool and oh my god it was great. So I guess what we do is we just go on WhatsApp and call somebody in Rio di Janeiro and like hey do you want to talk? I could talk now. It all seemed Apple also introduced the Apple Watch Ultra 3, the most advanced Apple Watch, delivering expanded health, fitness, safety, and connectivity features, and seamlessly shifting between a powerful sports watch, an elegant smartwatch, and a comprehensive health companion. 40 hours of battery, satellite, and 5G. has also iPhone 17. Game changer, they say. Game changer. >> Oh, yeah. >> Game changer. >> Does it So, so in other words, it folds into a small stamp size product. >> No. >> What else? >> Well, I do understand they have a thin version, but it has no camera. >> There's an iPhone air. They couldn't come up with a better name. Again, Air, you know, it's iPhone Plus, you know, HBO Plus, iPhone Air. Still nothing about AI, Siri updates, nothing. The the glass glass, they they ran this phone through a myriad of all sorts of like hazards. Uh talking about the glass and the back, which has a ceramic shield. >> Well, until they run over it with a tractor, I'm I'm not impressed. >> So, I I I I walked away from this thinking one of two things. H am I disappointed because this is so stale and so boring and the same thing and what do I think about that for the company Apple or on the other hand by golly if it ain't broke let's not change it well that that's a good point there was some guy on CNBC today that was just some Apple junkie and he was a investment advisor of some sort and he g he's just fawning all over all this enough. >> Yeah. I mean, it's it's exciting. Do you want to buy it? I mean, if you have an my phone, I can get a new phone. Does it add a I have the iPhone 15 Pro. Is it going to add a lot? I know. Maybe. I didn't hear a lot about, you know, they sometimes make a big deal about cameras. I didn't hear a lot about that. Maybe. I don't know. >> That's because they haven't done anything with their camera. >> Yeah. All right. Let's talk about Google's camera nuts. >> Yeah. Let's talk about Oracle. Listen to this. This is unbelievable. Listen to this closely. They put out an earnings result this evening. I quote what they talked about. We signed four multi-billion dollar contracts with three different customers in Q1. The result in RPO contract backlog increased 359% to 455 billion. It was an astonishing quarter and demand for Oracle cloud infrastructure continues to build. Over the next few months, we expect to sign up several additional multi-billion dollar customers. And RPO is likely to seed half a trillion dollars, which by the way, they're at 455. Half a trillion is 500. Sounds better when you say half a trillion, but it's only 45 million more, just to be clear. 10%. The scale of our recent RPO growth enables us to make a large upward revision to the cloud infrastructure portion of Oracle's overall financial plan, which will be presenting blah blah blah. A bit of the preview. This is where it gets really interesting. We expect Oracle Cloud Infrastructure revenue to grow 77% to $18 billion this fiscal year. That's impressive, right? >> Yeah. >> Then increase to 32 billion next year, 73 billion, 114 billion, and 144 billion over the subsequent four years. That's some growth. Multicloud database revenue from Amazon, Google, and Microsoft grew at a rate of uh 1,529% in Q1, said Larry Ellison. Holy cow. I feel like there's a little bit of double counting going on here and low basis when they get the 50, you know, like they just started this and then they got But nonetheless, the numbers are pretty outrageous. When you go up 77% this year and then you're gonna go up another 75% then you're gonna go up another then you're gonna go up 100% then you're going to go up like 80% then you're gonna go up you're going to level off down to only up like 30%. Good numbers. No wonder why the stock was up. You want to see why the stock was up after hours? Shall we look after hours for Oracle? 28% all-time high stock was >> sitting up there high >> $310 a share. It was >> Yeah, it closed at 280 or something, I think. >> 310. Oh, no. Yeah, it up. No, it was up 68. It was up at uh It was It It closed at 241. >> Oh, 241. Oh, yeah. You're right. >> It was $100 back in October 2023. It's a triple in a year and a half. Is that a year and a half? Year and three. Yeah, three. Year and a half. Triple. Triple. >> Yeah, that's a good triple. And by the way, who would have thought? Oracle. >> I know. It's kind of a more I mean, this is like expecting uh this to me is like uh seeing something like this happen to uh uh Jeez, I can't even remember their names. It's so pathetic. >> Like Xerox. Like Xerox. >> No. No. Well, Xerox, that would that's not going to happen. No, I'm thinking about the Cisco. >> Oh, yeah. >> Cisco sits there. It's a big high-tech highf flyier or was and they're just morbined and next thing you know that it takes off like a rocket. But Oracle, they got on this I don't know this it's all a lot of this is driven by AI and you know cloud computing uh combination the AI cloud computing thing. >> Exactly. >> And it's like uh is this sustainable? >> Well, at least for the next five years it is. So there you go. >> Well, that's what they say. They say it's for the next five years. I don't I'm not buying it. >> They got the contracts already. If unless they're back outable, you know, unless they're >> He might be back out. Contracts that big have to have an out clause. >> Yeah. You would think it wasn't like, hey, we'll give you 100 billion. Don't worry about it. Don't whether it works or not, we just keep the 100 billion. It's like a guaranteed player. >> Yeah. Not happening. >> No. Uh rounding or the BLS preliminary benchmark revision for 12 month periods of the prevalent period ending uh March 2025 shows 911,000 fewer jobs than previously p published. The large benchmark revision was reinforced the market's belief that the Fed will cut rates by at least 75 basis points by the end of this year while perhaps even driving increased expectations of a 50 basis point cut at the September FOMC meeting. This is what we've talked about. So interesting. Now, historically, let's talk about this. From 2002 to 2023, the average benchmark revision was around 255,000 jobs. Could have been up or down. Most years, the revisions were much much lower. The largest prior revision, what year? 2009. BLS revised employment down 92,000. It was considered extraordinary at the time due to the financial crisis. This current revision is now the largest in two decades of passing even the 19 the 2009 figure. >> Well, this can't continue. >> But is there something here? Is there something going on? I mean, you you only see this during a financial crisis and all of a sudden we get this like what does that mean? We have better technology today. Was it just that they were off? >> Yeah, but they're not using the better technology. That's what everyone's complaining about. So you can say we got better technology, but we're still using old systems and the old systems fly in the face of the better technology because the people don't don't they kind of dropped the old systems and so the thing is is raggedy. It's not these numbers. You can't trust these numbers one or the other. >> Therefore, we can't even trust the revisions. >> That's the way I'm seeing it. >> Could we trust them back then if they were raggedy back then? I don't know when did they be when did they start becoming raggedy? >> I don't know but it's been revision after revision. It's not only this. It's everything else. >> It's it's ridiculous. I >> I find that this whole thing >> When did this start? When did you start noticing you've been in this business forever. When did you start noticing? We used to joke about it since the financial since the financial crisis and then and then fast forward I would say that was what 2009 I would say probably 215 is when I was like uh the economics don't mean as much as they meant anymore. I used to be an absolute student of this and would base my investment decisions a lot on the economic trends. They mean nothing there. There's a great they're great talking points and I think there's something to be said about them. But in terms of investing the correlation, I don't know. I'm not quite sure. I mean, I can't tell you the last time I deal I look I look at all this stuff and because I know it so well, I can just look at the stuff quickly and know what's going on. But I used to get down and dirty into it to look at all the different details of what was going on because it mattered so much. It's it doesn't matter right now and the markets were even up today. >> Stop mattering with QE1. >> Yeah, that's exactly when it happened after the financial crisis. It really got bad. >> Yep. We also saw that um last Friday was the BLS uh monthly report, Bureau of Labor Statistics. Non-farm payrolls increased by just 22,000 for the month lower than the 75,000 forecast. The unemployment rate raised rose to 4.3% which is the highest in I don't know sometime again markets didn't react negatively to either of these usually you would see that one of these things eventually would start hurting the markets. the idea that we have less uh 900 whether it was 500,000 n it doesn't matter but if you were trusting this data to begin with and then it's all taken away from you the rug pulled you would think markets would have a reaction nothing zero keep on pumping money in that's even with the dollar coming up on this >> the dollar drop the dollar improved a little bit today >> yeah but it's been dropping rates have been dropping the 10 year was at 4.05 105 or something like that last few days. Open AAI the uh company has sharply raised its projected cash burn just to let you know what that means is yes cash burn money they are not going to >> cash burn that's the right term for the right thing. Yep. >> Their cash burn through 2029 $15 billion as it ramps it spending up to power the artificial intelligence behind his popular chat GPT chatbot. Now the new forecast is $80 billion higher than the company previously expected. So not profitable till at least what 2029 and still getting extraordinary valuations. Now to control it soaring cost, OpenAI will seek to develop its own data center server chips and facilities to power its technology. So, wait a second. We already know that AI is OpenAI is putting in a it seems like a $10 billion potential order with Broadcom for their chips or to e to to create chips. >> Yeah, cranked it up. >> What does that mean for Nvidia, AMD, and by the way, those were also up after hours on the Oracle news figuring that they'll require machines to fit into their, you know, to to run this stuff. I don't know. I'm starting to hear a lot of uh people talk about how are we overreaching on this whole AI deal at this point that while the promise is there >> surprised they're not saying haven't we already >> I think this there's still question about what it's going to do but a lot of people are starting to wonder like wait this is starting to be very reminiscent there'll be winners there'll be losers but this is starting to get a little bit nutty the commitments I mean can you imagine if the if if sales slow down for any of these companies and they have these these these Not this is no longer like hey John can I borrow five bucks this hey John can I borrow do me a favor can you send me five mil there's a whole different right >> yeah basically >> these numbers are not it's only look John can I borrow 500 yeah Andrew I got you I'm going to send you get 500 John I'm sorry I can't pay I get 500 you know what we've known each other a long time you obviously something I get it John can I borrow five million okay John I can't pay it back what you know what are you talking about? Whole different thing. So, uh I just wonder how long this going to go. We'll see. Uh and what about this? >> You know, I don't see for one thing, there's nothing I don't see anything improving. >> You don't see what the >> in in terms of what you can do with AI. I think it's all been standard. It's been >> it's it's plateaued. I don't see anything that's that's remarkable. Or is it the stall in the brisket at 160 degrees? >> That's a good analogy. That very that you and I and maybe five other guys get the stall. >> Uh >> yeah. Yeah, maybe that's what it is, but I don't think so because we're not cooking. >> Yep. Uh what about those tariffs? Territory Secretary Scott Besson said he was confident that President Donald Trump's tariff plan will win at the Supreme Court. And if he doesn't win, he'll kick your ass. >> Yeah, he's going to beat your ass before the court action. Uh Trump tariffs were set to affect nearly 70% of all US good imports. Best said that delaying a ruling until June of 2026, which is not going to be, could result in a scenario where 700 to a trillion dollars of tariffs that have been collected would be a winding. It would be very disruptive. Uh finally, two things and we'll get on to the game here. Um Tesla has a new pay package for Musk that is going to go through the board. Could result in upwards of about a trillion dollars of a payday for Musk eventually has to reach uh very high standards high levels. The board is asking investors to approve a new plan that will um give him about 975 billion about 432 million shares. This company is also asking shareholders to vote as to whether the automaker should invest invest. He's going to end up buying the AI AI intelligence company XAI, also known as lots of Twitter in there. >> But that's what they're going to do. They're going to do this. Then they're going to bring all the companies together, the SpaceX, the XAI, into one company and um run it that way. Bury bury the dead inside the area like the solar power companies, etc. uh continue along with the Tesla which is lose, you know, not making a lot of money right now comparatively uh and just pretty much play off maybe if XAI comes up maybe and and SpaceX. That's what it's going to do. It's going to it's going to open up SpaceX basically. Um I think we'll end on uh there's a hedge fund performance on here. Not that exciting. Uh donations. Well, of course that's something that you can do if you enjoy the show. If you know what stall in the brisket is, that's your cue. That's your that's your whistle um to uh to to to be aware of that. We have a the an area on the website over on dhplug.com. There's also show 768. You can see the show notes of everything we talk about. There's a little donate button. Um it's important. It really is. It's it's it's part and parcel of what we do here. And yes, you know, we have other things we do also. And um but we spent every week planning, working on, taking our time late night on a Tuesday evening on the East Coast to record these throughout the week, collecting data, information and and trying to make this entertaining and uh bring you the best financial uh show and business related that we can. So it's it's that's our job. your job is go over to the uh the voting booth, the donate button, and click on that to to to to give back. So, you can do that right now. We'll we'll wait. We'll we'll we'll stand by till you do it. >> Yeah, I'm sitting here waiting. >> We're waiting. All right. Also, last thing I want to talk about football team valuations. Here we are the kickoff of the football season. There was a CNBC football team. I got the top 10. Basically what they do is they take a multiple teams of u revenue maybe take out any kind of debt in there from that. So the Dallas Cowboys number one >> yeah they've been number one for some time >> $12 billion $1.2 billion revenue. Uh LA Rams 10 billion Giants 10 billion Raiders uh 9.3 uh Patriots nine nine Jets nine Chicago Bears 8.9 uh San Francisco 49ers 8.6 six Miami Dolphins as a number nine for my guys 8.5. I was surprised that the Eagles were less than the Dolphins that the the Miami Dolphins have lost much more than the Eagles, right? You would think that the Eagles would be a higher Yeah, it has a lot to do with who owns the stadium, what kind of merchandising rights. There's a lot of little gotchas in there and the the older old established teams don't have the modern uh >> um they don't have the they don't they're not managed in a modern way. >> Yeah, that's what I mean. The Dallas Cowboys are they're managed very modern way and they can't win anything, >> but they're well valued. It's all that matters. All that matters. This is a game that we play. It's not a solicitation to buy or sell any security. It's not a recommendation of any kind. Nothing on the show should be considered investment advice or a recommendation. If you choose to invest in any of the stocks mentioned, you should know that it may carry risk along with the risk of a loss of principle. You should also seek out professional financial advice for your particular situation. We assume no risk as these are not to be considered recommendations. Horowitz accompany myself or John Cavor may invest in any of the securities mentioned and we'll disclose that on the website under the weekly stock pick section. You can go to dhunplug.com and see all the names we discussed in the segment along with the performance information from the date discussed as well as any additional important disclosures. >> So, a lot of stuff got kicked. >> Yeah, a lot of stuff got kicked. I want to point out one thing, one thing. And that is Wayfair. Wayfair went on 827 with the idea that there's going to be furniture tariffs. It's going to be very destructive. We want to have furniture here and all. that was kicked at uh 15% loss, right? >> Yeah. >> It is the same thing over and over over again. Whatever is beingounded on takes a momentary dip and then it flies. >> If you look at the markets around the world, it is astonishing >> from the lows in April, May or May, March, April, May to where they are now, it's unbelievable. Vietnam, China, Japan, unbelievable. makes our markets look silly. These are the ones we didn't give anything to. We just brought back the tariffs slightly, but they're still tariffed. So tell me how that's good for them. >> It's a mystery. >> So I'm adding something this week. That's that I'm adding Fizer. >> Yeah, I see that. >> Why? >> And you're buying it. >> I'm buying Fizer. >> Cuz you hate it. >> It's hated. It It's RFK Jr. is going to kill the vaccine industry. you know, everything >> this is the this is the way this is modern investing. I think what you're describing right here. >> Yeah. Let's just it's not gonna happen. Everybody seems >> you're buying on bad news. >> Buying on the horrible news and and just opposite of whatever you know there's the upside down. >> Yeah. So >> yeah, I think this is a good idea. >> So a lot of things I'm adding that and I'm also adding lift breaking out above a buy point. >> They have a new plan on an international basis and potential squeeze candidate. Yeah, maybe. Well, I have one and I got it to it in a roundabout way. So, uh I was looking at this insider. This guy's a Indian character who is uh a I can't even pronounce it. >> What does that even mean? An Indian character. >> Indian. He's from India. Again, Indian name. He's Akaraka Jewish Sharinas. I can't even pronounce it. But he's a director in a bunch of companies, mostly biotech. >> Okay. >> And he has played the market before. And I'll give you one of the examples of one of his plays. He bought uh Scholar Rock Holding at six and sold it at 29. This is So that's So I'm looking at a guy who look maybe knows what he's doing. He's director. So, so I So, he's buying uh something like $14 million worth of of a of a stock >> MLYS, which is mineral min I can't even pronounce it. >> Mineralis. >> Minerals therapeutics. Morales. That's it. Morales. >> And it's skyrocketed. It's way up there. >> And he already up 10 points on it. But looking at his list of buys and sells, I see this one little little gotcha here where he's bought uh a company called Alumis Biotech for $455. It's has gone down a couple of points. I think this is he's his track record indicates to me that this is probably a good cheap stock to buy. >> And I'm going to throw in with it. >> What is it? Alms >> alumis. >> It's got We got to have weird names for both of these. Morales and Alumis. So $427 from a roundabout insider. >> Yeah. Round. Right. I back uh I kind of backed into it, you know, kind of >> I like it. I like Well, that's because you did the research. That's the whole point of what we talk about >> is doing the research. A >> little work. >> Yeah. Yeah. >> Doing it. >> All right. It sounds good. We're going to end there. We're running a little bit late this evening, so we're going to uh end the show right now. Thank everybody for their donations ahead of time. I think that's probably the right thing to do. And uh mention that we'll see everybody again next week. >> All right. See you then. >> See you. All right. Bye. >> You've been listening in on a conversation with John C. D'vorak and Andrew Horowitz. Hope to be with you again soon. Bye-bye. >> Now, I'm not broke, but badly bent. I'm not down to my last scent cuz I got a dollar but it's my last dollar bill. Yes, sir. In my pocket there's a dent. All my dough is nearly spent but I got a dollar and it's my last dollar bill. Oh, I'd love just one more buck fortune left me by chance. Now here's a hint. I'll feel like a men. You can hardly tell by a glance. I don't care. No millionaire can give me the Isis stack cuz I got a dollar. My last dollar bill. >> This podcast is intended forformational purposes only and does not constitute personalized investment advice. Investing involves risk, including the possible loss of principle, and past performance is not indicative of future results. The views and opinions expressed are those of the hosts and the guests and may not necessarily reflect those of Horowits Company, Inc., an investment advisor registered with the US Securities and Exchange Commission. Registration with the SEC does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Horowits Company is properly registered or is excluded from registration requirements. Any mention of thirdparty companies, products, or services is provided forformational purposes only and does not constitute an endorsement. 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DHUnplugged #768: Glass Houses
Summary
Transcript
Hello and welcome to D'vorak Horowitz Unplugged, an hour-long discussion of activity in the financial markets around the world featuring columnist John C. D'vorak and money manager Andrew Horowitz. This conversation is casual and unrehearsed. Let's join John and Andrew now. >> I'm John Cedorak. >> And I'm Andrew Horowitz. >> And it's the 9th of September, the day to remember 2025. Yeah, it's a day to remember because it's gonna be a great show. It's going to be a wonderful show. Not to mention uh so many exciting things happening in the world right now. We have uh and Oracle's earnings after the hour after the close which was outstanding. I mean just wow. So we'll talk about that. Also going to talk about stagflation. You know we've talked about this many times over the years. the idea that you know what stagflation is and and what it isn't and the economists and analysts call for stagnation 10 times and it happens once and the question is is this time going to be different? >> Obviously the famous last words, right? >> But but is this time gonna different be different? Because >> we actually seeing the signs of stagflation. We're seeing that inflation is staying persistent and persistently high and especially with today's numbers. Oops. Oh my. Talk about a revision dating back to one of those years that you never want to hear those. You know, there's certain years that you never want to hear when you talk about finances. You don't want to hear about, you know, 2008 or when they say 2008, 2009. um you don't want to hear about, you know, 1987. That just rings a bell, right? It's it's a trigger. >> Yeah. It's flash crash. >> So, one of those things that's happening with what we saw today with the revisions on the jobs numbers goes back to one of those dates. So, we'll talk about that. People in glass houses, stupid politics. Oh, yeah. We got a lot of that going on. And um bittersweet news. We're still here. John and I still here. Which means only one thing. You know what that means? >> It means uh No. What does it mean? >> We did not win the Powerball. >> Oh, yeah. The Powerball. >> Now, I know it wouldn't change your life at all, would it? >> No, I would do. I would just give the money to charity. >> Yes. >> And continue on my merry way. >> Yeah. Nothing would change. You wouldn't buy any special like if you if you had some extra >> Would I buy a Ferrari? No. And not because I wouldn't want a Ferrari, it's because it's too much hassle to keep it up maintained. >> Okay. And and and if I won, who the hell would want to pay the taxes anyway, right? >> Right. But if you were to buy a case of wine, that's not it's not some crazy thing. But if you were to buy a wine, if you won, you know, if you want I'm setting the stage for you winning this Powerball, and you were to buy a wine that would be like h I don't know, maybe what would you buy? If I just had nothing but money to spend, I'd buy Romani Conti. >> And what is that? >> It's a burgundy that's very exclusive. It comes right out. I think I don't know what the current price is, but when it's released to the public, brand new, it's like 10 grand >> for a bottle. >> Yeah. >> Wow. That's pretty impressive. And it only it only goes up from there. >> Yeah, it only goes up from there. >> But then you question, is it really that good to drink? What about a drinkable? Something like I mean is there something like I don't know. I don't know. I know the wine flows your boat. That's why I'm asking because I mean I don't know what I would do. I mean would I buy a Ferrari? Probably not. Difficult to get in and out of that car to be honest with you. >> You've ever been in and out of a Ferrari? >> It's it's it's you it's you it's you it's you it's you it's you it's you it's you it's you it's you it's you got to you got to get down low. >> Ferraris are unbelievably comfortable. They're easy to get in and out of and they and for some unknown reason the visibility is incredible. >> Well, I was in the vet. That was very difficult. >> Well, I mean that's but especially the new one. >> The new one's very difficult. You're kind of like you're like laying halfway down >> on a weird angle. So Okay. So So Romani Conte is what you'd buy. You don't Nothing Nothing else floats, right? That's what you do. That's it. That's it. >> Well, that would be Yeah. the one thing if I had it, you know, I had money to throw away. >> Wow. 10,000 a bottle, guys. Got expensive taste. Very impressive. Um, and they say, by the way, the another thing we're going to talk about tonight is they say would never happen. They say it's never going to happen. It will never, won't ever. Uh, a ban on stock ownership for Congress coming around and making the rounds again. >> That, you're right. That's never going to happen. >> Never going to happen. Who votes on that, by the way? >> Congress. >> Ah, yes. So, the idea the idea so stupid. Um but they'll they'll make a but they will make a run of it to make it look like they're trying. >> Yeah, you have to do that >> and and then what will happen is >> something will distract them and then the thing will get tabled and you never hear from it again. >> Yeah. Never again. Never again. >> Um some other things we'll talk about crisper in chocolates. The idea of crisper technology which is gene editing, gene splicing being used in chocolates and the markets. Well, who what's what's driving them right now? still tech once again. Even though we saw that big slowdown in the first part of the year where everybody said, "Well, tech's done. That's it. It's over. Thank you. Hang your head up. >> It's come back." And like I said, the Oracle numbers outstanding. That's not even the right word. The Oracle numbers are mind-boggling. Did you I don't know if you saw, but we'll go to that in a second. Insane what what they what they accomplished this quarter. And by the way, stock is showing its results in a after hours up enormously. Not good. We have that for our clients. Nice position in that. And what's really interesting also is that they missed on their earnings estimate compared to analysts. So that's something I thought was kind of cool. Um, Sexy is back in retail. That's good. You know, for a while. What was what was what year? When was that? When the anorexic uh dirty pale model was a thing? >> When was the anorexic dirty model a thing? >> Yeah. You remember that? There was a lot of There was a time >> Yeah. There was a lot of these girls. They were all on heroin. >> Yeah. Right. >> That was the uh I think it was even called heroin chic. Um that was probably ending around the uh uh around late 80s, but it was pretty popular in the 70s. >> Yeah. You just is you just look like you're just dragged through the mud. >> You look like you're Yeah. on your deathbed. >> Well, the good news is sexy is back. So, some retailers are making some big waves with that. >> Gee, cuz it works. >> Yep. Right. Well, I think that's also a sign of the times for a while. You know, fe feminism has gone through uh and so has, you know, the the the idea of what is a man has gone through a range of of definitions, societal definitions over over time. And so we're I don't think this is anything that's more than a cycle. It will go to something else. I mean may maybe you know uh something totally different in five years from now but right now the the pendulum has has turned and sexy is back. Um and the other thing we want to talk about tonight is the um market's taking a stride of just a a just a mere miss just a mere restatement of the jobs on a year-over-year basis where we knew there was some changes. Remember that we saw like a couple hundred thousand last few months. >> Yeah. Well, the number is in of what the year-over-year is. Do you know what that is? You want to take a stab at it? >> It's lousy. >> 900,000. >> Now, let me ask you something. >> You need 150 a month. Uh, so it's low. >> So, it's like 80,000 a month. It's like we didn't have any job growth through. Forget about the >> So, that's half Well, that's actually negative job growth. >> That's correct. replacement is 150,000 a month. That's a number people got to keep remembering, >> right? >> So then in other words, no job growth is 150,000. >> Exactly. So we've lost jobs on a net number when you're talking about what the requirement is just from this. And by the way, John, I think people need to understand why why is why is 150,000 required? I mean, you have people dying, you have people retiring, you have you have you have businesses that are growing, the the uh you know, GDP growing, businesses grow. There's all these things that go into why you need to have extra workers on. >> So, replacement 150,000 represents the number of people that retire, quit or die in the workforce a a month >> and that has to be replaced. So you get you so that 150 number come should come in every month that so everything everybody that just dropped dead or quit or retired and a lot of people retired they actually rec retire uh that number has to be replaced to keep jobs uh steady and if it's not replaced and then then we're losing we're lo losing workers. >> Yeah. Crazy, right? >> Well, it happens. >> No, what we saying is crazy is that we have 900,000 revision. Yeah, the revisions. Yeah, >> everybody's all, "Oh my god, he fires." >> Guy was watching. Guys go on and on TV and they they yak yak yak about this. The problem is this oldfashioned people aren't sending the surveys back anymore because it's all by done by mail. The electronic stuff doesn't work. They they don't do nothing's done correctly and we can't trust any of these numbers and they fired the last person because they didn't like the what she was doing and the new person is worse and it's just one thing after another. It's it's it's gotten to the point where it's like I don't know if we can trust these numbers. >> But you know what's going to happen? >> You know what's going to happen >> next month? All eyes will be peeled on the jobs number. What is it going to be? >> Absolutely. Even though everybody knows at this point, not only listen, I do not I truly do not believe that there was any to a large degree I don't believe that there was any hanky panky going on with these numbers. I think it's just a bad model. The problem is not just that they can't count. It's they estimate. That's the problem. They estimate. >> Yes. Yeah. >> Because they don't get it in. So they do an estimate. Estimations are the problem. >> Exactly. >> It's like global warming. >> Yeah. Right. They're using trends and the trends don't work. >> Oh, it's hotter today. Global warming. It's colder today. Global warming. You know, whatever. And you always remind us about the last ice age. When was that? >> When was that supposed to happen? >> Any ice age? It wasn't that long ago, actually. >> No, but when was it when was everybody freaking out? There's going to be an ice age coming. >> Oh, that was in the 70s. Yeah. for the entire decade of the 70s right into about the first probably the first six months of the Reagan administration and I have tapes cuz I did some air checks of some radio shows back in the 70s and 80s because I'm a nerdy audio kid and I still have one tape which I haven't rolled out on no agenda yet from about 1979 or 19 it might may even been 1980 where the local left-wing hippie rock station just went on and on and on and on about global cooling. It was it's the funniest thing you've ever heard. >> And and and again, here's the thing. As looking back on that, we know that was not right at the time, right? It's so ridiculous. >> Well, there's some people that think it's still right. >> Well, okay. There some people think the Earth is flat. >> No, some people with some with with some evidence think that that we may be in a cooling cycle. >> But the problem is we don't learn from the lessons. You beings by nature don't learn. And that's why the stock market is a fascinating place to be. That's why it runs on emotions. That's why there's inefficiency. And that's why you can make money from this. That's the beauty of it all because we all think it's an exact science when in fact it's a dismal science. It's an in science. >> Yeah. Science. >> I don't think so. So anyway, um Powerball jackpot $1.8 billion. Two winners, one in Texas, one in Missouri. That's not the best part, I thought. Even though each of them can choose either um an annuization of I think a 20-year period of $893 million each over, I believe 20 years, that's a whole heck of a lot of money. Or get a lump sum payment of 410 before taxes, >> right? >> 410 before taxes. By the time you're done, you do your little work. It's not like you're like, "Hey, what's the standard deduction? I'll take that this year." That's not going to really matter, but let's just call it um I'm just going to pick a number. $150 million in taxes you pay. You're left with round number 250. Not a bad number. >> No. If you want $250 million in your pocket. >> Yeah. In your pocket. You put that in a 4% uh tax-free bonds and what do you get? You get what? $10 million a year of income. >> You get more than Yes. >> For doing anything? >> For not doing anything. Well, you did something. You you invested that money into a Yeah. >> into a bond that which >> is a loan. >> $10 million a year. H uh additionally, two lucky tickets sold in Kansas and Texas. So, Texas got the big numbers here. Won $2 million each. 18 tickets sold across 13 states won u $1 million. >> Yeah. It was actually in Fredericksburg, Texas, where Adam Curry lives. It was. >> Yeah. You didn't know that? >> I didn't know it was in Frederick. >> No agenda more often. >> I I sorry. It's only Tuesday. It was on Sunday. >> Takes me a couple days. >> The big the big Powerball winner was in the Texas winner was in Fredericksburg and he bought it at a local gas station. >> I've been to Fredericksburg with you. We were at Adam's house. >> We go to We went out to Fredericksburg to go tasting maybe. >> Did we go to No, was this >> No, we were in Austin. We were nowhere near. >> Oh, yeah. Yeah. I don't think we went I feel like we went to Fredericksburg. >> No, I I'm sure sure of it because Austin, he had the apartment. He built the house in Fredericksburg, didn't he? >> No, no, no. He had No, he had a uh house in he first he was in an apartment in >> I was in the apartment and I guess >> then he went to a house in Austin just in the outside the city limits. >> Maybe that's the case. Yeah, maybe that's the case. Uh so I thought it was in Fredericksburg, but maybe not. Um now >> Fredericksburg is out there. Yep. So is Adam. So there you go. >> So back to just 20 million now. Uh the odds of winning were um one in 292 million which is pretty good. So that's pretty good. Uh Glass Houses, you know PY, the guy that's in charge of the um housing administration or whatever is in charge of it there. Do you know? >> Yeah. >> Do you know who he is? >> No, I don't really. He's the son of the founder of PY Homes. >> Oh, well, that's probably a good gift for the job. >> He's 37 years old. He started his own firm right out of college. He's uh he's a he's uh on the board. Who would have would have thought of PY Homes. He started uh an investment firm of some sorts. Uh I'm sure getting the seed money wasn't very difficult from dad and his friends. >> Yeah. So he's the um actually oh that's interesting. So Mark Py wait a second I need to look this up. Here's the thing you know he accused Cook and he's getting Cook fired for putting you know primary residence on both these deals on on both there. Cook, Federal Reserve. Um, >> yeah, that little lady, >> she's she's being, you know, harassed, fired, all this what's going on because she put down primary residence on two of the properties she owned. Right. >> Right. >> By mistake, whatever. But why would somebody do something like that? They do it because if you create a primary residence in many states with a property, particularly like say Florida, what happens is that you get homestead exemption and lower tax costs. So, you put that on there. Now, who's checking? >> I thought you just got better mortgage rates. I don't know. You got lower tax. >> Maybe. No, definitely lower tax. If you have your primary residence and this there's actually asset protection potential in the state of Florida, your house is protected if it's homestead from the claims of creditors. >> Does she have a place in Florida? Cuz I know that's not true here. >> Uh, I don't know where she had a place, but I need to look at something here. Founder of PY Homes. This is this would be funny. Bill Py. Okay, we got Bill Gil Billy. Let me see something here. Billy. So, who's Mark? Who's Mark? If Bill Py is the son of the founder, who is Mark? H I got to look at that. I got to look at this. Well, supposedly Mark and Julie Py, the father of stepmother of Bill Py, President Trump's appointees as director of the Federal Housing Finance Agency since 2020, have claimed so-called homestead exemptions for residents in the wealthy neighborhoods in both Michigan and in Florida. >> Oh, that's interesting. >> Yeah. So, that exemption is meant meant to give a discount on homeowners on taxes for properties that they use as their primary residence. Local tax officials in both states told Reuters that claiming more than one home as a primary resident isn't generally allowed in the jurisdictions and can be punishable by fines or backed taxes. After they found out about this, the tax officials in Bloomfield Township in Michigan, um they revoked the exemption on Py's residence there. Now, here's the problem. all this crap that's going on. We know that there's a lot of shenanigans that go on in government. Well, with people, forget government, with people in general, right? You start digging digging enough on on certain people in certain high level places, you're going to find something. The problem with setting precedent are trying to do this kind of thing, what they're doing to cook is that they're going to uncover this kind of stuff on a lot of other people. >> Yeah. I think probably half the administration and half the Democrat party and half the Republican party. >> And you may say, well, that's a good thing. this shouldn't be allowed. I'm all I'm all with you on that. However, the more you start doing this kind of stuff and this political uh executions, it's going to hit you in four years from now, don't you think? Or six years from now or eight years from now, wherever it is? >> No. >> You don't think it's going to happen? >> I think it's a good thing. I'm completely for it. >> You think that they should basically just shoot each other to death? >> Yeah. >> Just kill just set them up in a room, give them all guns, and let them just go. Well, I mean, I wouldn't do that because there's some illegality concerning some an action like that, but I would. Yes. Basically, you got these laws for a reason. You're either going to do them just to make them dead letter laws and forget about the whole thing or or or make the laws put the laws in action. They're why are they there for in the first place? >> Yeah. Uh I I agree. I agree that you should should uh stick with it. By the way, uh quick note here. He is the grandson of William Py, the founder of PY Group. >> Yeah. Well, he should know better. >> Yeah. Well, well, that's that's that's William John Py who lives in Boca Raton, Florida. Everybody lives in Florida. Everybody's coming down. Uh we have a beat your ass moment. Uh it seems that during a recent uh dinner with PY again, PY somehow got under Scott Bessence, the Treasury Secretary of Skin, and Scott Bessant was pissed. He said, >> "Oh, this is because I heard about there was a blowup, but I didn't know who it was with." Because I know Bessant's a hotthead. >> Yeah. So, it was I guess at a birthday party for Chamath Polyhapatia. I only say his name because it took me a while to learn. >> You must have rehearsed that. It took me a while to learn how to say that name because I always thought he was a big ripoff artist and he was um he is the Pied Piper I call him of Spax. He was the one that originated all that. Took all the money and ran with Virgin Galactic and a few others. But nonetheless, um interesting and smart fellow. Very smart. Maybe too smart. But I guess he was had a party. There was 30 people, all these people there. And Besson anyway Besson says, "F you." He didn't actually say the f by the way. I'm going to beat your ass. punch you in the effing mouth for bad talking me to President Trump. He said something like, "Either he's leaving or I'm leaving." Pauly said, "Where are we going?" Best says, "Outside." To do what? Talk? No. I'm going to beat your ass. >> Is that right? >> Yeah. I just I let read the whole this whole >> documented this >> is I'm political. There's a few places. There's a few places. >> Real class act, huh? And Besson's the gay guy. >> Besson's gay, >> isn't he? >> Yeah. You don't know that? >> Oh, I guess he is gay. Yeah. Yeah, >> he's out gay. >> Yeah, >> it's not like a secret. >> I guess saying beat your ass if you're gay is not >> doesn't hold the same >> Yeah. You don't know what he's talking about. >> The guy should there opportunity abounded for for comebacks. >> Chocolate editing, candy market. We'll get back on track here with some really interesting financial and business topics. Um, candy maker Mars said Wednesday that has partnered with biotech company Pairwise to speed up the development of a more resilient cocoa using crisperbased gene editing technology. So crisper is this technology that it's a tool actually. It's a kind of interesting tool. I it's not exactly this but I want you to envision this everybody. >> You keep putting it in the game. >> I like crisper. I like the I like the concept. There's a few companies out there that do it. Very interesting. Um, we hold it for clients. I hold it for a very long time personally too. Um, made some very nice money on it. So, the crisper technology is this gene editing tool. Think of think of the genetic sequence of a DNA, right? The the chromosomes that are wrapped on a double helix blah blah blah, you know, the whole thing, right? And the let's say there's a few genes that are just not right. Right? They're they're they're not the right chromosal something or other. There's something not right about the whole thing. Basically, this is like a little thing. Think of it this way. It's not really, but think of it this way. It's like a little robot you you put down there and somehow it hits all the genetic code from all the DNA DNA sequences, snips it, and then replace it with the right code. Please don't ask me more about how that exactly works because I can't tell you. But that's the gist of it. Pretty unbelievable. And you know there's a lot of questions of well if it could actually do that couldn't we create you know some superhuman in vitro >> or a guy with two heads >> right yeah so pretty interesting they're doing this with cocoa now and the goal is to create actually cacao plants that can better withstand disease heat and other climate related stress that can put global chocolate supply at risk because we saw what happened with the chocolate prices recently. They went through the roof. And by the way, if you haven't heard, the hottest, most exciting chocolate that people are talking about for some reason. Have you heard about this? I just heard this. >> Uh, no. >> Dubai chocolate. >> Do I buy chocolate? >> No. No. No. We'll start again. One word. No. No separation. Dubai as in the place. Dubai. >> D U B AI. >> Yeah. Dubai. Like like in in United Arab Emir Emirates. >> Yeah, I've been there. >> Okay. Well, it's called Dubai Chocolate. It's basically Do I Do I buy chocolate? >> Yes. It's a basically a Yeah. Who's on first? This is basically a a chocolate um that has this really rich, very exquisite pistachio cream layered inside and then chocolate on the other side of it. So, it's like a instead of like a caramel with chocolate, it's like a pistachio cream. It's delicious. Big >> There's our plug for the show. >> Yeah. Uh but here's a public. You can buy it anywhere. Just go anywhere. I haven't seen it anywhere. >> Maybe we have a a listener that makes this stuff. >> How you can send us a a couple of bars or whatever it comes in or chunks. I don't know how it's >> uh they're in bars usually. Um small bars. I've seen Well, I've seen them a lot of different ways. I had a Dubai chocolate tort the other night. >> So, this is the replace Reese's. So, instead of peanuts Yeah. >> and chocolate, we're going to go with pistachios, >> right? Different flavor profile entirely. So, and so, so if the dog eats this, >> yes, >> they get killed two different ways. >> Pistachio is not good for dogs. No, >> it's not good for anybody. Pistachios is one of the few toxic plants that only humans can eat. >> Really? >> Yeah. Look into it. It's very fascinating. Most animals cannot uh they it's a poisonous plant basically except for us for some reason. And it's delicious, right? Delicious. I love it. >> I love it. Okay. Um let's see. Oh. Uh, one thought, one issue, one comment. The I was wondering about this cocoa cacao. Cocoa cacao. Does anybody know? Do you know the difference? >> No. You, but you're going to tell us. >> I'm going to tell you the difference cuz I looked it up. I do all the hard work for everybody listening cuz I have to know. >> You mean you you mean your AI does? Well, I didn't I didn't go I didn't go to Costa Rica and visit a forum and ask them directly, but although I have been to the northern let's see the northern part of Panama into a cacao farm and I did learn how they make chocolate from the actual cacao seed pod. >> Oh, that would be fun. >> Yeah. And I brought some home and I think I told you at your suggestion many years ago, one of your secret ingredients in Chile is what? >> Well, chocolate's one of them. >> Correct. So, I used the Panameanian cocoa uh powder that I got up there, put in the chocolate, and won the competition that year. That's a true story. >> It works. >> It works. Works. Um the main difference between cacao and cocoa is cacao is minimally processed and remains largely raw and nutrientdense while cocoa is made from roasted cacao beans that have been processed at high temperatures. The heat and processing affects the cacao's nutrient profile and flavor making cacao powder more bitter and richer in nutrients and cocoa powder milder and more suitable for baking. And and and next time you have a piece of especially dark chocolate. I want you to for a moment close your eyes and notice the smokiness of it. Notice the smoke profile there. The way that they take the the beans inside of they they they take it through a a heating process to make the cocoa. And that usually happens in a smoky environment, you know, with a smoky bin. >> Yeah. Like scotch. >> Yeah. like you like one of your favorites as I remember from many years ago. Lagavulin. >> Yeah. Well, Lagulan's one of them, but Leafroy is actually is probably the one I would pick over that. And then there's Cow Isila, which is the smokiest, pediest scotch that you can get. It's hard to come by. >> And and Leafroy's problem is you got to get it older. The young Leafroy is hard to drink. But the why why is you like the what's the pedia one? >> No the pediest p the to my taste leafroyg is up there with the pediest ones but it has to be aged a lot. It has to be at least 15 years old before you can even choke it down because it's really harsh. But the pediest one I think generally speaking is cowila and and it's >> from is that >> it's it's it's it's from the from the ISA region which is it's c a o i s l a y something like that and it's very light. It's they don't put any coloring in it so it looks like you're drinking it's very light colored and it's intensely pey. >> Well you like the pey I don't >> Yeah I like the pey. I mean I why why am I drinking this stuff if I'm not tasting it for the pee? >> Do you like do you like um mscal? >> I do I don't hate mscal. I don't seek it. I my son had brought in some some very authentic mscal mscal from Mexico including this some of the stuff that's actually illegal which is the best. Uh where they have a turkey and the must they throw a dead animal in there to make the the mscal. What >> and it's delicious. Yeah. Yeah, I like mscal, but it's not pey. >> Did I Did I I'm sorry. I go with the worm in some of these things, but you're talking about a entirely dead animal carcass inside of my drink. >> It's not in >> pretty much. I mean, I It takes some explaining. >> Take it takes wild turkey to a new level. >> All right, Google for the win. Google shares popped 8% on Wednesday last week as investors celebrated what they viewed as minimal consequences for historic defeat last year in the landmark antitrust case. In other words, the courts went through it. It was like this whole thing and oh my god, they're going to have to separate the search from the chrome. >> I didn't think this the stock I thought they figured that Google was going to win this thing and this stock was not going to go up that much. >> It's it's it's because this market is very reactionary right now. every piece of news. You could say the same thing every single day and the market would think it's a brand new news. I'm I'm telling you, >> it's nuts. >> So that's why why why Oracle did what they did tonight with the guidance they gave. We'll talk about that again. Anyway, last year Google was found to hold an illegal monopoly on its core markets of internet search. And there's a pole hub that oh my god, what if they have to give it away? They get paid so much money, billions of dollars a year from various companies like Apple. Well, they pay Apple, but they get from other places and they make money from here and and they got the Chrome and uh this whole thing basically says, well, in light of all we've seen, the courts have said Google will not be required to device Chrome, nor will the court include a contingent devesture of the Android operating system in the final judgment. Plaintiffs overreached in seeking forced devestature of these key ICE assets, which Google did not use to affect any illegal restraints. Knock on. Uh, Apple was up 4% on this as well because Apple gets paid to have Google search as the main uh, search engine for the iPhones. >> Yeah, but Apple's also up because of the supposed roll out of another fancy phone. >> No, we'll talk about that. That was two days. That was today. They were down. They're down today on that. This is two days. This This is a direct reaction to that. All right, let's talk about sexy, shall we? American Eagle said his campaign with actress Sydney Sweeney has so far led to positive gains in new customers and sales. >> The clothing retailers, >> she knows how to sell that girl. >> Well, does she? Well, I'm going to I'm going to question this. The clothing retailer issued fiscal second quarter earnings that beat expectations on the top and bottom lines. Um, it reissued its fullear guidance and now expecting lower operating income because of tariffs. stock was up 20% in after hours last Wednesday. Now, here's what's really interesting. You know, you got to read the details. You read just the first couple of paragraphs, you know, you get mesmerized by the picture of her. It's all so sexy and they and and you get you read all the the comments by the the various people um like the fall season is off to a positive start fueled by stronger product offerings and the success of a recent marketing campaign with Sydney Sweeney and Travis Kelce. Hold that button that. Put a pin in that. Travis Kelty. We have seen an uptick in customer awareness, engagement, and comparable sales. question. Was it Sweeney or Swift, by the way? Is it the Swifties that are buying the clothes or is it the all about Sweeney? But here's the deal. >> I think I think Sweeny's got more influence in this regard because she got the most publicity for doing those ads and brought more attention to the company than the Travis Kelce. Uh I think people are getting tired. I think there's I would say Taylor Swift fatigue. So I don't think that really had much of an impact. >> Okay. So let's say that let's say it's Sweeney. Let's say Sweeney create awareness. >> Sweenie, what a name, by the way. >> Yeah, sweet Sweeney. So let's see that this is great. The marketing campaign was wonderful. Everything everything clicked and that turned into a beat. Here's the deal. Earnings per share with 45 cents versus 21 shares cents a share as expected. Wow. Doubled their earnings, right? >> Yeah. >> Revenue is 1.28 28 billion versus 1.24 billion expected. So they only made like $4 million more which is a minor differential $2 million two 2%. 3% 2 and a half%. Now the company reported net income for the first for the 3-month period that ended August 2nd of 776 million compared to 77.3 million a year earlier. So they only made.3 a whole a whole year.3. So what is that? That's $300,000. Yeah. They made $300,000 more in total revenue for the year. What the hell? What? This was a great campaign that brought in a whopping $300,000 additional or am I >> You should have had to pay her that at least that much. I I don't understand now. Maybe they're saying that. No, it doesn't make sense because we know that there's tariffs on this and there's very heavy heavy uh cost to this. So, that didn't affect their earnings and their revenues wouldn't change. So, I I don't understand this whole story doesn't make any sense to me. This whole deal and how investors got sucked right in and bought up bought in and I don't >> they got that accomplished. They added to their market cap. That was maybe what they were aiming for. Maybe I'll probably do an offering next. >> There. Boom. >> There you go. Uh, Congress, a ban on members of Congress and their families trading or owning stocks got new momentum last week uh after a bipartisan group of House members announced that they've come to an agreement on a new bill. >> The ones who the ones who shorted when they should have gone long. Those guys. >> Yeah. The Restore Trust in Congress Act, which is interesting that they even call it that. restore trust. Now, probably there's about maybe I would say conservatively 75 billion dollars of spending that will be in this in this bill by the time this is over, right? And probably giving all sorts of money back channeled so they don't have to trade anymore. >> Well, that would be one way of of solving the problem. Just direct bribes. >> Direct bribes. Um, so the Restored Trust in Congress Act, which by the way infers that there is no trust in Congress, that Congress is 44th. >> Yeah, I know. It makes it that's a bad name. >> Bad name, right? Exactly. Um, so combines several different proposals into one vehicle that supporters say will focus on the debate and lead to passage. Uh, any sideline bets on if this is happening or not? >> Well, you know what? I my bet would be the same as yours. So, we can't bet against each other on this. We both obviously don't think this is going to happen. Why would they do that? >> I I don't know. >> I mean, unless there's unless half of Congress got screwed by some scammer. I mean, most of these guys are made out. I mean, supposedly Elon Omar, who's like a just came into office. She's only been in office for what, a couple couple terms, maybe. And she started off with a net worth of 50,000. And now she's worth 30 million. They think at least 5 million, maybe up to 30. Who is this? How? >> Who is this? >> Elon Omar, the the Muslim woman from from the Midwest. >> How'd she do that? Through stock ownership. That would be best. >> They don't know. They're trying they're investigating her. How did she get all this money? >> All of these Congress people are loaded. >> That's not how it was when it all started. Well, that you know, it seems to me I'm not that the fact that these a lot of these trades are made public by people who do research and put up websites and say what this congressman's buying or selling. Uh, as long as that's going on and the fact that these guys, yeah, they have some, you know, somebody in has some influence on some legislation and he's investing based on that. But if it's public at all, uh, I don't have a problem with it. But it's late. Their disclosures don't have to make to way after. They get to buy the deals right when they hear it's going through secret chambers. It's non-public information that they're trading on. >> Well, I have mixed feelings about it. I agree. They shouldn't be trading on non-public information. >> Well, that's the only reason they get ahead. It's not because they're really good investors. >> Yeah. But the other thing is the non-public information doesn't mean that the stock's going to go up or down. You know as well as anyone else that a stock tip from an insider can tell you that this is going to happen that's going to happen. You you invest and the stock goes down. >> Yeah, that's true. This is true. >> And that can happen to them too. >> Although coincidentally it doesn't happen very often. >> No, cuz they make sure it happens. >> They'll figure it away. Apple the big event today. Apple announced a new AirPods Pro 3, taking the most popular headphones in the world to a new entirely new level. First of all, Adam, did you watch any Did you watch any of the Apple event? >> No. I got sick of these things. Watching Tim Cook is just It's just incredibly dull. >> I watched it. And let me tell you, if you took last year's event and just put Apple iPhone 17 on it everywhere and >> same event >> said something about being thinner or bigger or smaller or fatter or better glass, >> same thing. >> Like the same B-roll, >> you know, drone flying into the Apple thing, the guy in the black sho, you know, the black jacket like looking like um Jensen Wong uh with the with the black sneakers with the white souls. You know what I'm talking about. That look. >> Yeah. This is it's tedious. >> And they announced absolutely nothing. Here's the big takeaways. Number one, uh the world's best in-ear noise cancelling ruing two times more noise than the previous generation iP AirPods Pro and four times more than the original Air Pods Pro. Yoohoo. Now, for the first time, this is kind of interesting. The AirPods Pro can measure your heart rate and track over 50 workout types with the new experience in the fitness app on the iPhone. So, I don't know if >> So, but you got to get these things stuck in your ear all day. >> Yeah. All day. Live. This is kind of cool. Live transl uh live translation also comes to AirPods making face tof face conversation easier. This is the universal voice translator that they had on the Enterprise, Starship Enterprise. Yeah, supposedly. >> So, that's kind of cool. Um, >> if it works. >> Yeah. If you're in if you're on a phone call and somehow it's I don't know whose voice it is, but u or you're in a FaceTime call or whatever and it's doing a real-time translation. That's pretty cool. >> If it works. Yeah. How how do you have a relationship with somebody that you you don't speak their language anyway to be in a situation where you're going to make a FaceTime call to them? Like you don't you never talk to them because you you can't talk to them. Now you're like, "Oh, this is fantastic. I could call this person up who that you obviously never had a relationship with." Anyway, am I wrong? >> I don't I'm You're not wrong. It's cool as hell. This is like the days when I had the uh I told you the single sideband, you know, so your Yeah, you should get a ham license by the way and get it out of your system. It's not that hard. >> And uh I would talk to people in all these different places and they would speak these languages and stuff and you know that was really cool and oh my god it was great. So I guess what we do is we just go on WhatsApp and call somebody in Rio di Janeiro and like hey do you want to talk? I could talk now. It all seemed Apple also introduced the Apple Watch Ultra 3, the most advanced Apple Watch, delivering expanded health, fitness, safety, and connectivity features, and seamlessly shifting between a powerful sports watch, an elegant smartwatch, and a comprehensive health companion. 40 hours of battery, satellite, and 5G. has also iPhone 17. Game changer, they say. Game changer. >> Oh, yeah. >> Game changer. >> Does it So, so in other words, it folds into a small stamp size product. >> No. >> What else? >> Well, I do understand they have a thin version, but it has no camera. >> There's an iPhone air. They couldn't come up with a better name. Again, Air, you know, it's iPhone Plus, you know, HBO Plus, iPhone Air. Still nothing about AI, Siri updates, nothing. The the glass glass, they they ran this phone through a myriad of all sorts of like hazards. Uh talking about the glass and the back, which has a ceramic shield. >> Well, until they run over it with a tractor, I'm I'm not impressed. >> So, I I I I walked away from this thinking one of two things. H am I disappointed because this is so stale and so boring and the same thing and what do I think about that for the company Apple or on the other hand by golly if it ain't broke let's not change it well that that's a good point there was some guy on CNBC today that was just some Apple junkie and he was a investment advisor of some sort and he g he's just fawning all over all this enough. >> Yeah. I mean, it's it's exciting. Do you want to buy it? I mean, if you have an my phone, I can get a new phone. Does it add a I have the iPhone 15 Pro. Is it going to add a lot? I know. Maybe. I didn't hear a lot about, you know, they sometimes make a big deal about cameras. I didn't hear a lot about that. Maybe. I don't know. >> That's because they haven't done anything with their camera. >> Yeah. All right. Let's talk about Google's camera nuts. >> Yeah. Let's talk about Oracle. Listen to this. This is unbelievable. Listen to this closely. They put out an earnings result this evening. I quote what they talked about. We signed four multi-billion dollar contracts with three different customers in Q1. The result in RPO contract backlog increased 359% to 455 billion. It was an astonishing quarter and demand for Oracle cloud infrastructure continues to build. Over the next few months, we expect to sign up several additional multi-billion dollar customers. And RPO is likely to seed half a trillion dollars, which by the way, they're at 455. Half a trillion is 500. Sounds better when you say half a trillion, but it's only 45 million more, just to be clear. 10%. The scale of our recent RPO growth enables us to make a large upward revision to the cloud infrastructure portion of Oracle's overall financial plan, which will be presenting blah blah blah. A bit of the preview. This is where it gets really interesting. We expect Oracle Cloud Infrastructure revenue to grow 77% to $18 billion this fiscal year. That's impressive, right? >> Yeah. >> Then increase to 32 billion next year, 73 billion, 114 billion, and 144 billion over the subsequent four years. That's some growth. Multicloud database revenue from Amazon, Google, and Microsoft grew at a rate of uh 1,529% in Q1, said Larry Ellison. Holy cow. I feel like there's a little bit of double counting going on here and low basis when they get the 50, you know, like they just started this and then they got But nonetheless, the numbers are pretty outrageous. When you go up 77% this year and then you're gonna go up another 75% then you're gonna go up another then you're gonna go up 100% then you're going to go up like 80% then you're gonna go up you're going to level off down to only up like 30%. Good numbers. No wonder why the stock was up. You want to see why the stock was up after hours? Shall we look after hours for Oracle? 28% all-time high stock was >> sitting up there high >> $310 a share. It was >> Yeah, it closed at 280 or something, I think. >> 310. Oh, no. Yeah, it up. No, it was up 68. It was up at uh It was It It closed at 241. >> Oh, 241. Oh, yeah. You're right. >> It was $100 back in October 2023. It's a triple in a year and a half. Is that a year and a half? Year and three. Yeah, three. Year and a half. Triple. Triple. >> Yeah, that's a good triple. And by the way, who would have thought? Oracle. >> I know. It's kind of a more I mean, this is like expecting uh this to me is like uh seeing something like this happen to uh uh Jeez, I can't even remember their names. It's so pathetic. >> Like Xerox. Like Xerox. >> No. No. Well, Xerox, that would that's not going to happen. No, I'm thinking about the Cisco. >> Oh, yeah. >> Cisco sits there. It's a big high-tech highf flyier or was and they're just morbined and next thing you know that it takes off like a rocket. But Oracle, they got on this I don't know this it's all a lot of this is driven by AI and you know cloud computing uh combination the AI cloud computing thing. >> Exactly. >> And it's like uh is this sustainable? >> Well, at least for the next five years it is. So there you go. >> Well, that's what they say. They say it's for the next five years. I don't I'm not buying it. >> They got the contracts already. If unless they're back outable, you know, unless they're >> He might be back out. Contracts that big have to have an out clause. >> Yeah. You would think it wasn't like, hey, we'll give you 100 billion. Don't worry about it. Don't whether it works or not, we just keep the 100 billion. It's like a guaranteed player. >> Yeah. Not happening. >> No. Uh rounding or the BLS preliminary benchmark revision for 12 month periods of the prevalent period ending uh March 2025 shows 911,000 fewer jobs than previously p published. The large benchmark revision was reinforced the market's belief that the Fed will cut rates by at least 75 basis points by the end of this year while perhaps even driving increased expectations of a 50 basis point cut at the September FOMC meeting. This is what we've talked about. So interesting. Now, historically, let's talk about this. From 2002 to 2023, the average benchmark revision was around 255,000 jobs. Could have been up or down. Most years, the revisions were much much lower. The largest prior revision, what year? 2009. BLS revised employment down 92,000. It was considered extraordinary at the time due to the financial crisis. This current revision is now the largest in two decades of passing even the 19 the 2009 figure. >> Well, this can't continue. >> But is there something here? Is there something going on? I mean, you you only see this during a financial crisis and all of a sudden we get this like what does that mean? We have better technology today. Was it just that they were off? >> Yeah, but they're not using the better technology. That's what everyone's complaining about. So you can say we got better technology, but we're still using old systems and the old systems fly in the face of the better technology because the people don't don't they kind of dropped the old systems and so the thing is is raggedy. It's not these numbers. You can't trust these numbers one or the other. >> Therefore, we can't even trust the revisions. >> That's the way I'm seeing it. >> Could we trust them back then if they were raggedy back then? I don't know when did they be when did they start becoming raggedy? >> I don't know but it's been revision after revision. It's not only this. It's everything else. >> It's it's ridiculous. I >> I find that this whole thing >> When did this start? When did you start noticing you've been in this business forever. When did you start noticing? We used to joke about it since the financial since the financial crisis and then and then fast forward I would say that was what 2009 I would say probably 215 is when I was like uh the economics don't mean as much as they meant anymore. I used to be an absolute student of this and would base my investment decisions a lot on the economic trends. They mean nothing there. There's a great they're great talking points and I think there's something to be said about them. But in terms of investing the correlation, I don't know. I'm not quite sure. I mean, I can't tell you the last time I deal I look I look at all this stuff and because I know it so well, I can just look at the stuff quickly and know what's going on. But I used to get down and dirty into it to look at all the different details of what was going on because it mattered so much. It's it doesn't matter right now and the markets were even up today. >> Stop mattering with QE1. >> Yeah, that's exactly when it happened after the financial crisis. It really got bad. >> Yep. We also saw that um last Friday was the BLS uh monthly report, Bureau of Labor Statistics. Non-farm payrolls increased by just 22,000 for the month lower than the 75,000 forecast. The unemployment rate raised rose to 4.3% which is the highest in I don't know sometime again markets didn't react negatively to either of these usually you would see that one of these things eventually would start hurting the markets. the idea that we have less uh 900 whether it was 500,000 n it doesn't matter but if you were trusting this data to begin with and then it's all taken away from you the rug pulled you would think markets would have a reaction nothing zero keep on pumping money in that's even with the dollar coming up on this >> the dollar drop the dollar improved a little bit today >> yeah but it's been dropping rates have been dropping the 10 year was at 4.05 105 or something like that last few days. Open AAI the uh company has sharply raised its projected cash burn just to let you know what that means is yes cash burn money they are not going to >> cash burn that's the right term for the right thing. Yep. >> Their cash burn through 2029 $15 billion as it ramps it spending up to power the artificial intelligence behind his popular chat GPT chatbot. Now the new forecast is $80 billion higher than the company previously expected. So not profitable till at least what 2029 and still getting extraordinary valuations. Now to control it soaring cost, OpenAI will seek to develop its own data center server chips and facilities to power its technology. So, wait a second. We already know that AI is OpenAI is putting in a it seems like a $10 billion potential order with Broadcom for their chips or to e to to create chips. >> Yeah, cranked it up. >> What does that mean for Nvidia, AMD, and by the way, those were also up after hours on the Oracle news figuring that they'll require machines to fit into their, you know, to to run this stuff. I don't know. I'm starting to hear a lot of uh people talk about how are we overreaching on this whole AI deal at this point that while the promise is there >> surprised they're not saying haven't we already >> I think this there's still question about what it's going to do but a lot of people are starting to wonder like wait this is starting to be very reminiscent there'll be winners there'll be losers but this is starting to get a little bit nutty the commitments I mean can you imagine if the if if sales slow down for any of these companies and they have these these these Not this is no longer like hey John can I borrow five bucks this hey John can I borrow do me a favor can you send me five mil there's a whole different right >> yeah basically >> these numbers are not it's only look John can I borrow 500 yeah Andrew I got you I'm going to send you get 500 John I'm sorry I can't pay I get 500 you know what we've known each other a long time you obviously something I get it John can I borrow five million okay John I can't pay it back what you know what are you talking about? Whole different thing. So, uh I just wonder how long this going to go. We'll see. Uh and what about this? >> You know, I don't see for one thing, there's nothing I don't see anything improving. >> You don't see what the >> in in terms of what you can do with AI. I think it's all been standard. It's been >> it's it's plateaued. I don't see anything that's that's remarkable. Or is it the stall in the brisket at 160 degrees? >> That's a good analogy. That very that you and I and maybe five other guys get the stall. >> Uh >> yeah. Yeah, maybe that's what it is, but I don't think so because we're not cooking. >> Yep. Uh what about those tariffs? Territory Secretary Scott Besson said he was confident that President Donald Trump's tariff plan will win at the Supreme Court. And if he doesn't win, he'll kick your ass. >> Yeah, he's going to beat your ass before the court action. Uh Trump tariffs were set to affect nearly 70% of all US good imports. Best said that delaying a ruling until June of 2026, which is not going to be, could result in a scenario where 700 to a trillion dollars of tariffs that have been collected would be a winding. It would be very disruptive. Uh finally, two things and we'll get on to the game here. Um Tesla has a new pay package for Musk that is going to go through the board. Could result in upwards of about a trillion dollars of a payday for Musk eventually has to reach uh very high standards high levels. The board is asking investors to approve a new plan that will um give him about 975 billion about 432 million shares. This company is also asking shareholders to vote as to whether the automaker should invest invest. He's going to end up buying the AI AI intelligence company XAI, also known as lots of Twitter in there. >> But that's what they're going to do. They're going to do this. Then they're going to bring all the companies together, the SpaceX, the XAI, into one company and um run it that way. Bury bury the dead inside the area like the solar power companies, etc. uh continue along with the Tesla which is lose, you know, not making a lot of money right now comparatively uh and just pretty much play off maybe if XAI comes up maybe and and SpaceX. That's what it's going to do. It's going to it's going to open up SpaceX basically. Um I think we'll end on uh there's a hedge fund performance on here. Not that exciting. Uh donations. Well, of course that's something that you can do if you enjoy the show. If you know what stall in the brisket is, that's your cue. That's your that's your whistle um to uh to to to be aware of that. We have a the an area on the website over on dhplug.com. There's also show 768. You can see the show notes of everything we talk about. There's a little donate button. Um it's important. It really is. It's it's it's part and parcel of what we do here. And yes, you know, we have other things we do also. And um but we spent every week planning, working on, taking our time late night on a Tuesday evening on the East Coast to record these throughout the week, collecting data, information and and trying to make this entertaining and uh bring you the best financial uh show and business related that we can. So it's it's that's our job. your job is go over to the uh the voting booth, the donate button, and click on that to to to to give back. So, you can do that right now. We'll we'll wait. We'll we'll we'll stand by till you do it. >> Yeah, I'm sitting here waiting. >> We're waiting. All right. Also, last thing I want to talk about football team valuations. Here we are the kickoff of the football season. There was a CNBC football team. I got the top 10. Basically what they do is they take a multiple teams of u revenue maybe take out any kind of debt in there from that. So the Dallas Cowboys number one >> yeah they've been number one for some time >> $12 billion $1.2 billion revenue. Uh LA Rams 10 billion Giants 10 billion Raiders uh 9.3 uh Patriots nine nine Jets nine Chicago Bears 8.9 uh San Francisco 49ers 8.6 six Miami Dolphins as a number nine for my guys 8.5. I was surprised that the Eagles were less than the Dolphins that the the Miami Dolphins have lost much more than the Eagles, right? You would think that the Eagles would be a higher Yeah, it has a lot to do with who owns the stadium, what kind of merchandising rights. There's a lot of little gotchas in there and the the older old established teams don't have the modern uh >> um they don't have the they don't they're not managed in a modern way. >> Yeah, that's what I mean. The Dallas Cowboys are they're managed very modern way and they can't win anything, >> but they're well valued. It's all that matters. All that matters. This is a game that we play. It's not a solicitation to buy or sell any security. It's not a recommendation of any kind. Nothing on the show should be considered investment advice or a recommendation. If you choose to invest in any of the stocks mentioned, you should know that it may carry risk along with the risk of a loss of principle. You should also seek out professional financial advice for your particular situation. We assume no risk as these are not to be considered recommendations. Horowitz accompany myself or John Cavor may invest in any of the securities mentioned and we'll disclose that on the website under the weekly stock pick section. You can go to dhunplug.com and see all the names we discussed in the segment along with the performance information from the date discussed as well as any additional important disclosures. >> So, a lot of stuff got kicked. >> Yeah, a lot of stuff got kicked. I want to point out one thing, one thing. And that is Wayfair. Wayfair went on 827 with the idea that there's going to be furniture tariffs. It's going to be very destructive. We want to have furniture here and all. that was kicked at uh 15% loss, right? >> Yeah. >> It is the same thing over and over over again. Whatever is beingounded on takes a momentary dip and then it flies. >> If you look at the markets around the world, it is astonishing >> from the lows in April, May or May, March, April, May to where they are now, it's unbelievable. Vietnam, China, Japan, unbelievable. makes our markets look silly. These are the ones we didn't give anything to. We just brought back the tariffs slightly, but they're still tariffed. So tell me how that's good for them. >> It's a mystery. >> So I'm adding something this week. That's that I'm adding Fizer. >> Yeah, I see that. >> Why? >> And you're buying it. >> I'm buying Fizer. >> Cuz you hate it. >> It's hated. It It's RFK Jr. is going to kill the vaccine industry. you know, everything >> this is the this is the way this is modern investing. I think what you're describing right here. >> Yeah. Let's just it's not gonna happen. Everybody seems >> you're buying on bad news. >> Buying on the horrible news and and just opposite of whatever you know there's the upside down. >> Yeah. So >> yeah, I think this is a good idea. >> So a lot of things I'm adding that and I'm also adding lift breaking out above a buy point. >> They have a new plan on an international basis and potential squeeze candidate. Yeah, maybe. Well, I have one and I got it to it in a roundabout way. So, uh I was looking at this insider. This guy's a Indian character who is uh a I can't even pronounce it. >> What does that even mean? An Indian character. >> Indian. He's from India. Again, Indian name. He's Akaraka Jewish Sharinas. I can't even pronounce it. But he's a director in a bunch of companies, mostly biotech. >> Okay. >> And he has played the market before. And I'll give you one of the examples of one of his plays. He bought uh Scholar Rock Holding at six and sold it at 29. This is So that's So I'm looking at a guy who look maybe knows what he's doing. He's director. So, so I So, he's buying uh something like $14 million worth of of a of a stock >> MLYS, which is mineral min I can't even pronounce it. >> Mineralis. >> Minerals therapeutics. Morales. That's it. Morales. >> And it's skyrocketed. It's way up there. >> And he already up 10 points on it. But looking at his list of buys and sells, I see this one little little gotcha here where he's bought uh a company called Alumis Biotech for $455. It's has gone down a couple of points. I think this is he's his track record indicates to me that this is probably a good cheap stock to buy. >> And I'm going to throw in with it. >> What is it? Alms >> alumis. >> It's got We got to have weird names for both of these. Morales and Alumis. So $427 from a roundabout insider. >> Yeah. Round. Right. I back uh I kind of backed into it, you know, kind of >> I like it. I like Well, that's because you did the research. That's the whole point of what we talk about >> is doing the research. A >> little work. >> Yeah. Yeah. >> Doing it. >> All right. It sounds good. We're going to end there. We're running a little bit late this evening, so we're going to uh end the show right now. Thank everybody for their donations ahead of time. I think that's probably the right thing to do. And uh mention that we'll see everybody again next week. >> All right. See you then. >> See you. All right. Bye. >> You've been listening in on a conversation with John C. D'vorak and Andrew Horowitz. Hope to be with you again soon. Bye-bye. >> Now, I'm not broke, but badly bent. I'm not down to my last scent cuz I got a dollar but it's my last dollar bill. Yes, sir. In my pocket there's a dent. All my dough is nearly spent but I got a dollar and it's my last dollar bill. Oh, I'd love just one more buck fortune left me by chance. Now here's a hint. I'll feel like a men. You can hardly tell by a glance. I don't care. No millionaire can give me the Isis stack cuz I got a dollar. My last dollar bill. >> This podcast is intended forformational purposes only and does not constitute personalized investment advice. Investing involves risk, including the possible loss of principle, and past performance is not indicative of future results. The views and opinions expressed are those of the hosts and the guests and may not necessarily reflect those of Horowits Company, Inc., an investment advisor registered with the US Securities and Exchange Commission. Registration with the SEC does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Horowits Company is properly registered or is excluded from registration requirements. Any mention of thirdparty companies, products, or services is provided forformational purposes only and does not constitute an endorsement. 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