AI and Oracle: Oracle (ORCL) flagged as a poster child for the AI bubble with massive off-balance-sheet data center commitments, raising risk and valuation concerns.
EVs and Autos: Tesla (TSLA) hits highs despite weak unit sales as robo-taxi hopes surge, while Ford (F) pivots from all-in EVs to hybrids with a large restructuring charge.
Autonomous Vehicles: Waymo’s expansion and user experience fuel the Autonomous Vehicles theme, contrasting hype versus adoption and implications for rideshare players Uber (UBER) and Lyft (LYFT).
Space Economy: SpaceX IPO chatter and soaring private valuations spotlight a frothy Space Economy backdrop, with Starlink as the profit driver and rising retail FOMO risks.
Obesity Drugs: Eli Lilly (LLY) posts strong momentum as next-gen triple-agonist data show 24–29% weight loss and ancillary health benefits, reinforcing the Obesity Drugs theme.
Consumer & Housing: Costco (COST) delivers solid comps and digital growth, while Zillow (Z) slides on Google (GOOGL) real estate search tests; broader US Housing data show price softness and longer listings.
Copper: Copper sits near multi-year resistance amid hoarding headlines; a breakout could pressure input costs across the economy.
Special Situations: iRobot (IRBT) enters Chapter 11 after Amazon (AMZN) walked from a 2022 deal, and Kymera Therapeutics (KYMR) draws interest as a Baker Brothers pick in biotech.
Transcript
Hello and welcome to D'vorak Horowitz Unplugged, an hour-long discussion of activity in the financial markets around the [music] world featuring columnist John C. D'vorak and money manager Andrew Horowitz. This conversation is [music] casual and unrehearsed. Let's join John and Andrew now. [music] >> I'm John C. D'vorak >> and I'm Andrew Horowitz. >> And it's halfway through the month of December. It is the 16th. This is the last full week of stock trading of the year. >> Oh, that's right. Yeah, because next week there'll be a day off and same with the week after that. >> There's a half a day and a day next week. >> Yeah, it's that's typical. >> And then the last last week, the last day the the last day of the year, there's no breaks. goes right to the end to make sure everybody has whatever they have to do whether it's distribution issues whether it's sale issues whether it's buying whatever has to happen they're not going to limit you on that and you have the Friday too which nobody will be working but there is that Friday after after New Year's that's on the second >> second yeah that would be after New Year's >> yeah well it is the last chance for those participants that have won in the past the close to the pin on DH plugged throughout 2025 to get in on the action. A few of you have already put in your price guesses and we have announced those. We have sent you emails and you know if it ends up only being three people out of the eight that signed up, well that's a small pool and that's we'll have the opportunity. But I would wager because I think there is still a little time. There is, let's see, there's 3 days, 2 hours, 57 minutes, and 37 seconds for those who are in the pool and in the running to sign up. So, you still have a little bit of time. If I was doing it, I'd wait till the very end as well, right? Why? Why? >> Yeah. Why take a chance? Well, let me get as close as possible to to the >> Well, it also could be a market could have some sort of a catastrophe and between now and then it would turn everything around or some ridiculous good news would come about or who knows what. >> Yep. Exactly. Uh it is happy Hanukkah time. Eight crazy nights. It is the third night of Hanukkah. So, I wish you a hagame, a happy holiday, and a happy Hanukkah. >> Yeah. Well, same to you. >> Thank you. Uh, >> although I can't pronounce it. >> I haven't gotten any gifts now that I think about it. Did I get any gifts? No, I given I've given some, >> but >> I want to mention, by the way, that little six-pack you sent me. >> The wine. >> Yeah. >> Mhm. >> I I notic you had a Dominus in there. >> And >> well, well, I haven't I just didn't crack these wines open yet. None of them. But that's a pretty That's a good one. >> Well, you deserve it, sir. We've been palsy wowsies for how long? >> 12 years, 14 years, 15 years. >> Right. A long time. >> Actually, we we're met at the little restaurant in Berkeley about two or three years before we started doing the show. >> Yeah. Remember that? And then we met on the then we met on the uh on the what would we call it? On the stage of Twitter, too. >> Yep. Yep. On on that. Have you talked to him at all? >> No, not for a couple years. Is he still doing his thing? >> Well, obviously he's not as successful as he used to be or you wouldn't have asked a question that way. >> That's true. That's true. >> But uh Yeah. Yeah. >> Leo Leaport, interesting dude. We have sad news about Rob Reiner. Awful situation there. Terrible. Just the whole thing. Uh the Fed decision is out. We'll talk about that. That was last Wednesday. And we have overdue economic reports coming this week. Some of them have already been published. One of them today that was kind of interesting. But a lot of it is still pretty much in the dark. We're pretty much in no man's land. Black hole of economics. That's where we are. They just they just got sucked up. And some of the ones that are coming out are going to be just estimates. [laughter] Have you heard? Have you ever Well, it's kind of funny. On one hand, I say it >> actually I have. This has happened before. When has this happened? >> This happened back in the IPO uh era. It the one that was really hot in the late 90s >> that there was economic data that was just estimates. >> Oh, no. I'm talking I thought you were talking about Okay. I'm sorry. I got mixed up. I I misheard you. >> Oh, what did you think I was talking about >> about IPOs? Because I was I was looking over this the sheet here and I was reading about it. >> No, no, the IPO. No. Um IPOs. No, no, we're talking about eco eco economics. >> Yeah. Uh, you know, I could probably uh save myself by coming up with an example, but I can't. >> Yep. There was uh there was none in fact of the uh we can go back to I think 19 I want to say 48. So that was a good 80 years ago. G give or take a couple years uh that the BLS started putting out the unemployment numbers. And uh I think this is the first time ever that they've skipped. Well, it hasn't been that long. >> No, no, it could have been longer. Could be longer. Could have gone back to caveman times. Oracle still problematic. More news coming out. We'll talk about really interesting stuff that's happening there. Again, I keep using the name poster child of the AI potential bubble or the overstatement or the circular financing or the vendor financing or the open AI horseshit that's being sled and slung with regard to the future potential. I mean, I I I really wish I could have in my business. What they did was is kind of illegal, saying how much we're going to make for you and that how much we're going to make for our company and then promise the world. If I said something like, you know, I guarantee that we will or I will I will >> Yeah, but they're not guaranteeing anything. >> They're not guaranteed because they can't guarantee. But even if I said the things they said, >> if any other company said the things they said, they're private, too. That's another thing. They're not regulated. Well, you can say what you want when you're private. >> Yeah, exactly. That's the point. SpaceX IPO is coming probably in 2026, but it's been a big discussion over the last few days and the huge increase in valuation over the past three months. Wait till you hear the numbers that are being banted around of what the valuation of this is now. And we you and I have tracked this for for some time. >> Yep. and I had the opportunity to get into some of this and uh now I look back on I'm think wow that minimum two it was a minimum $250,000 to get in it was a 15% initial take by the firm as a commission. So that would be for there you're talking about you know 35 $40,000 right there right 40 it would be 20 250 half 32 $32,000 commission then it's a 2% annual fee as they do nothing but hold your money hoping that SpaceX becomes something then they take 20% of your profits which is all good if you think about it if the 250 is now a four-timer if so what if they took 35% 40% >> you come out ahead. >> Yeah. So that's going on and but but really interesting on on I don't even know how they're coming up with these valuations. Um we have another bankruptcy going on right now. We'll talk about that. Oh oh oh the big news. Oh boy oh boy. There was some money to be made here. And I thought about doing it, but just I decided we'll see what happens in in a minute or two. Uh we have now the Kevin and Kevin. We have Kev and we have Waller. Kevin Kevin Waller. So we have Kevin which is the Hasset. >> Yeah. >> Which is the again I I just have to say it every time. >> Next Fed chairman >> ill ill ill illfitting shirt and tie. >> Yeah. Right. The guy with the big 16inch neck on a 13inch neck. Yeah. >> I can't take it. Um, and then and a real round head like son of yellen. Okay. >> Yeah. >> Um, another South Park character by the way. And then >> Yeah. [laughter] Yeah. I'm not going to argue with any of this. He's pretty it's pretty funny. >> Uh, and then we have uh Kevin Walsh. Walsh. Worsh uh who is actually in my opinion probably the best uh of these most level-headed it seems. Not necessarily going to pander to anybody. And then you have now Waller um who is is being interviewed as well. But the two Kevin and Kevin are the big numbers. We'll talk about what happened there. Really fascinating stuff. Weight loss game continues. Oh my, a triple this time. Not one receptor, not two receptors, but three receptors. And not only that, you can cure knee pain with this drug all at the same time. >> Wow. >> Yep. There's big news there. And we're going to save one thing. I'm going to do a a little open-ended, nondescript teaser. We got a doozy for the end of the show. So, you ready to go? >> Yep. >> All right. Tesla alltime high. Uh I think it hit 495 today, something like that. >> Now, this is this is with multi-year lows of car sales. >> Yeah, I It's ludicrous. >> And you have to wonder what is this all about? Is it because maybe somehow there's a attachment to the whole SpaceX deal? The excitement about SpaceX. But I looked and Tesla doesn't own any SpaceX. I mean, Elon does. >> But SpaceX could buy them. >> That's possible. >> They do these kinds of consolidations. >> Roll it all up, right? But now >> Yeah. Roll it up. >> But can will they at this price? Maybe if Tesla I mean, excuse me. If state Space S X does go public, >> he's going to be worth something about north of I don't know 600 billion, >> which is >> larger than what do you what what do you do? How do you There's no FDIC on that by the way, >> just to be clear. >> There's no what? >> FDIC insurance of the bank. >> No, of course not. >> Yeah. Uh you know, so I mean his movement in any given day of that stock could actually buy or sell a a bank, a regional bank. >> Yeah. Oh, easy. So what's going on? Well, the prospect of robo taxis is is living large in the heads of investors and >> yeah, well people talk of big game. Meanwhile, we have them. >> Do you like them? You have Whimo. >> Yeah, Whimo. Whimo. They gave the Whimo first is in San Well, San Francisco and LA and then they're now rolling out. So I think on January 1st it'll be in the East Bay which means Oakland, you know, the whole East Bay area, Berkeley, and all the way up to Sacramento. Are you going to have you been in one? >> No. >> Will you go in one? >> Sure. >> I think you need to do a a a boots in the car. >> Yeah, I probably should. >> You should do a boots in the car report. >> People that the people I know that use them. Yeah. And there's plenty cuz they're doing quite well for themselves. Um they're used they were actually like you they used to use Uber and they find that these are better. >> They they don't have to deal with the driver and a tip, >> right? And and stink sometimes a little bit of a car smell from all the people in and out and sitting and driving all day. Have you noticed that? >> Yeah. Well, there would there's an element there. I I haven't run into that cuz I don't use those services that often. I like to actually like to drive. >> I will tell you though that the differential between Lyft and Uber. I've been to many cities and Lyft consistently is cheaper by a long shot. Like I can go to the airport here, maybe Uber will cost me $18. Lift could be like 13. >> That's a decent percentage wise savings. That's a big savings. >> Yeah. >> I always go back and forth and check. I don't know why there isn't an app out there that will consolidate kind of like a kayak. You know, the kayak app. >> Why not? >> Why isn't there an app now that will consolidate the best price and bring the best price up to the top and the the best price and closest car? These companies don't have API. >> A great app. >> I understand. >> I think you already stumbled onto one. I don't I can't imagine that I'm the only one that has thought of this. There must be a reason why it's not out there. >> There probably is. >> Yeah. So, what else? Uh, Wall Street never sleeps. The new thing NASDAQ is filing to extend trading to 23 hours a day on weekdays. Oh, [laughter] >> why shut down all? >> I Yeah, the computers need a break. Got to put a little oil in there and >> change the little lube job. I don't think so. >> I don't know. Uh there's no reason to shut down at all if you're going to do that. >> They're shutting down for some reason. I don't know why, but 23 hours probably >> make sure that the the the books are uh properly rigged. >> There is something probably about closing the day and then reopening the day. >> Yeah, but you don't have to do that. It doesn't take an hour to do that. You can do that instantly. >> And when is that going to happen? Is that going to be at midnight? What? Eastern? Greenwich mean? Uh >> it either has to be eastern or greenish mean. >> Yeah. Now, banks are concerned about this because uh they're concerned about investor protections, cost, liquidity, volatility, risks of non-stop trading. I can I go along with that that there is some liquidity already. There are stocks that are traded 24 hours a day like the spy, the QQQs, but the volume and the interest is really small. Now, the reason that this is being pushed is because there's a talk about this would be really helpful for global traders that want to trade, for example, Apple, but they're not up in the middle of the night and they want to trade on the US exchanges or they want to change. >> I suppose the problem is the risk of, you know, of a runaway uh market is just too high. I don't understand what why they do it. They there's one big reason why they do it. They want more fees. >> Yeah. Well, that's obviously the reason, but they're asking for trouble. >> This reminds me of what happened many years ago with the holidays where all these stores decided they were going to stay open during Thanksgiving. Remember that? >> Vaguely. >> It was they they're going to they said they'll have more selling days ahead of Christmas. And then slowly but surely, they all decided, "All right, we're closing down." Stores were open. All of them were open. I mean, I this year I don't think I think Whole Foods was open till like 11:00 or something or 1:00, but Publix, all the supermarkets were closed, pretty much everything was closed. And of course, you know, the one thing, the one day of the year that this particular type of restaurant closes, which is probably brilliant, you know what? What what ethnic ethnicity is closed? >> Yeah, we're talking about Jewish and the Chinese restaurants. Chinese restaurants. Chinese restaurants are closed on Thanksgiving. At least down here. Well, everywhere that I know, which makes total sense. >> Why? >> Because most people are not eating anything but turkey, >> including the Jews. >> Yeah. No, it's Jew. Yeah, of course. Well, >> it's on Christmas. >> Sunday night. Sunday night is is Chinese food night. >> This is a Sunday night. >> You have to have If it is not If it's If you don't have Chinese food, it's not a Sunday. >> [laughter] >> It's just It's not possible. >> When did that start? >> It's not possible. We had Chinese food last night. It was horrible. >> Oh, you got to find a good restaurant. Chinese food is fabulous. If you can get somebody that knows what they're doing >> there, down in Florida, there is a >> Can you cook a ch the cuisine? By the way, >> there is a few items I can cook. Yes, I can make like a a stir fry with black bean sauce or I can make, you know, some of the But I can't. So, that stuff is very You need so many different >> I can cook the cuisine. Well, you can, >> but I have a I have a store down the street called 99 Ranch, which is a large monstrous supermarket that has all the ingredients that you can't you can't get, >> right? It's the ingredients. The ingredients. I mean, I make some things like I use fermented tofu with the sesame paste and make this really good like hack chicken, hack noodles, u which is a Hunan dish. Um, but many a lot of the stuff is fried. I don't like to do that in the house because it stinks. But I'd rather find a good place. Dumplings I've made. >> Um, >> that's a challenge. >> Dumplings are interesting. They're they're hard to make. Soup dumplings are very hard to make. Very difficult. You have to make a gelotinous kind of core so it doesn't, you know, then wrap it. But I have a I The whole wrapping and the closing the dumplings is just too difficult. I don't like all that. Um, but I do have one great, as a matter of fact, I'm going next Monday for lunch to a place called 1010, which is a dim sum cart restaurant, which you have plenty of in your area. >> Yeah. Even though the best one that Mimi and I've found in the West Coast is actually in Victoria, Canada. >> Really? >> Yeah. Oh, it's a fabulous place. They have a little miniature Chinatown in Victoria and they got a dim restaurant there that's just a stunner. Love that. Love that. So, uh anyway, um I don't know how we got to that from Oh, I got the Thanksgiving at Chinese food. Yeah, SpaceX. Let's talk about that. This is uh Elon Musk's other billion multi-billion dollar company aiming for a potential $ 1.5 trillion market cap with an initial public offering IPO in 2026, which could become the largest IPO in history. It will. >> Was the A Ramco IPO? >> That one was Oh, that wasn't that big. Let's see. What was that? Um >> I thought that was the biggest in history. >> Well, it was then. Let's see what it was. Uh when a Ramco came in, it was uh 26 billion it raised in 2019. Um this offer sold about 1 1.87 trillion. Yeah. >> So maybe this is the largest one in the United States. Largest IPO. Maybe it's the largest IPO in the United >> has to be the largest IPO in IPO history. >> Well, one Aramco was 1.87. >> Oh, I Oh, I thought this one I thought you just told me it was 226 billion. >> It was 26 billion raised, but then don't forget they have the treasury stock they hold back. That's what they let out in the float. >> So, okay. The total of it was um it was 1.5% of the company and it valued at 1 1.87 trillion. >> Okay. Well, that Yeah. >> So, uh >> so it was bigger. >> Yeah. So, let's see what happens there. The largest IPO in history. It eclipsed Alibaba's previous record. So, this could be the largest in the US history. So, um here's something interesting. In July 2025, I went back and I looked at some of this. That's not too far. Uh but you can look back probably the beginning of this year. Bottom line is in July 2025 the tender valuation was 400 billion. That was the last we heard too. 400 billion. 400 billion. 400 billion. Now all of a sudden 4 months later it's 800 billion. And now we're going to have the potential for this to be worth 1.5 trillion in within one year. >> It's doubled and doubled again right before your very eyes. Ladies and gentlemen, >> it's unbelievable. I don't know if this is going to play, but everybody's getting really interested in this. I have people that don't like investing in stocks talking to me about, hey, can you get this IPO forward? >> Oh, this is a this is a bad sign. >> Yep. I've seen this before. >> Yeah, I've seen it before, too. And it means the market's going to crash. >> Anytime we used to get IPOs very regularly, but anytime I was able to get a full allocation to an IPO, I decided that was an IPO I didn't want to be in. It makes sense. >> I just said I'm not doing this. >> Yeah. >> It's like a club that would have me as a member. >> Yep. Exactly. Uh Starlink is the primary money winner of this deal. That's the one that's making all the money inside of this inside of SpaceX. They are talking about like rolling up XAI in there and XAI keeps getting ridiculous multiples and valuations as well. >> It's ludicrous. >> But I I will tell you Grock is kind of interesting. I told you I did some stuff with Grock. It's snarky. It's interesting. It's fast. Um, I will tell you that co-pilot has been the co-pilot chat, I should say. I've been yelling at this guy. I'm I I f if if there is a if there's the potential to have a crime against um uh AI verbal abuse, I'd be getting arrested right now. Okay. >> What is it what is it telling you? >> Well, what's happening is if you don't shut it down, it seems to only go back. So, so let's say I'm talking about this is talking about apple pie and like a few hours later I go back to the app and I'm like, "Hey, I want to talk to you about a quarter inch pipe uh fitting that's involved in, you know, what what is the best um way to uh connect that with should I use teflon tape?" It would say, "Oh, so let's get Oh, yes. So, you're thinking about apple pie and a refrigerator." I'm like, "What? What? No. Or or I'd come back and say, "Oh, let's go to that deep dive. What is interest before?" So, if I said the same thing, if I said if I came back and I said, "Let's talk about the quarterinch pipe with teflon tape." I says, "Tell me what is interesting you about plumbing." Like, I'm not I'm not asking you to have a I don't >> This sounds idiotic. >> Be my answer. No, but if you shut it down or restart it, it kind of restarts back to square one. >> So, it kind of gets stuck on your earlier queries. >> Yeah. That's really kind of strange. It's like almost you have to even if you said if I stopped if I did the same thing I said okay let's have a new conversation. >> It would say won't do it. >> It would just start talking about dumb things. >> It sounds like a nightmare. I don't use I've never used it at all. I hate it >> because it keeps interrupting me. I just think of as clippy on steroids. >> There there's some good things I like but he they get this partic I should try a different >> model. I have short answers on there, but maybe there's a different model I can get because it annoys me. It's like, oh, so welcome back, Andrew. What could we dive into today? Always the diving. And >> yeah, diving is like a big deal. >> And then if I said the word like oregano, oh my oregano, what a wonderful you know. No, I know I was talking about Oregon, not oregano, you know, something just stupid. Um, let's see what else here. Uh, Rob Reiner. uh saying goodbye to him. Sad situation. I don't want to talk about it. >> Yeah. Yeah. You don't want to get killed by your kids. >> I I I I find that such a horrific thing. The the the the image of waking up to a deranged child with a sharp knife or something hovering over me, hacking up my wife or something, and then coming after me. Well, he slit their throat. So, I think he snuck up behind them >> while they were sleeping or >> I don't know how when or how or what. I mean, all I know is when you slit somebody's throat, usually that's that's it for them. And then if you're nutshit somebody's throat, >> that's a good question. I think you probably should have some some knowledge that you picked up somewhere because I don't think it's trivial. >> Yeah, because you need to probably get the right spots too. I mean, you have to do like a wide, you know, like in the movies around the whole thing. You want to get the jugular and all that, right? >> Yeah. That's what causes the mess, >> right? >> Yeah. >> You don't just want to do the center because, you know, that probably is just going to be painful. >> But listen, I I you know, talk about this. >> That thing is grotesque. >> Yeah. Got I have a story about this. Uh, it's it's a a little bit of mini grotesque situation. A dumb ass amateur move that I did this weekend >> in the kitchen. >> Okay. >> I >> in the kitchen. Oh, you cut yourself. >> Yep. I took out a brand new spanking brand new mandolin. >> Yeah. A big metal one. >> Yep. A brand new one. And I decided I'm >> a good one. >> Yeah, it was a good one. It's And let me tell you, >> I I have one of those. They're dynamite. >> Let me tell you, it could slice. Oh yeah. [laughter] That's why I wear chain mold gloves when I use it. >> Yeah. So I had the gloves. It came with it and the protecting thing. You know that the one that you put the fruit on or whatever and you have the spikes and you can use that. >> Yeah. You stick there. You just got to you stab the food and then you go nuts. >> So I was doing a lemon. I'm like, "Okay, let me do this." I'm like, "This is not a good idea." Lemon. This is not a good idea. Not a good idea. >> No. You have to use a Japanese one of those sharp little handheld mandolins the Japanese make that are very small, but they're super sharp and you can cut it. You can do You can do a lemon. >> I have that as well. But this one was super sharp. I'm telling you, I just I was gliding over just slicing his lemon. Okay. And I'm like, I shouldn't do this. I shouldn't do this. I shouldn't do this. I'm like, ow. That was that. >> But you had the chain mail on. >> Nope. [snorts] >> Oh, brother. [laughter] >> If you're thinking to yourself, I shouldn't do this, that's when you put the gloves on. >> Well, this is like the second time I've had an incident like this. The first time >> I was getting on my boat. >> Yeah. I I clipped the the top of my index finger just deep enough to be painful. >> But >> you're just making you're making everyone listen cringe. >> The last time I did one of those I shouldn't do this, I shouldn't do this. I was carrying a cooler in my left hand, something in my right hand. I had to I had to uh do a large stride from my dock. >> You shouldn't do this. You got to stop and think when this happens. >> Yeah. I took a large stride from my dock to my boat and missed >> and and and the cooler in my left hand pulled me back. Lost my balance >> because of the swinging. Yeah, you got off. You're right. It would do that. >> Yeah. Pulled me backwards and I lost balance and I just went straight down at the water. Fortunately, straight down to the water cuz I could have smacked my head on the concrete uh uh dock wall. >> Yeah, you could have >> could have cracked my head open on the lift on the boat. 100 different things and nobody would have known that I was there. The only >> No, you just be fling there dead. >> The only thing I can tell you is that my camera did catch it. And I do have that in my favorites on my phone. So, if you ever want to see that, I'll send it to you. >> Oh, bro. Well, [laughter] I don't know that I'd want to, but okay. >> All right. Headline alert. Here it is. The headline. Copper could hit stratospheric highs, new highs as hoarding of the metal in the US continues. >> Hoarding. >> Yeah. Now, since this came out, copper's gone from $5.77 per per metric ton or however it's calculated to $530. Where copper is right now, that's the future symbol is HG, which I believe is probably its is that its um periodic table number? >> No, the periodic CU. >> I wonder what HG stands for. >> I thought it was like uh HD. It's not silver. It's Mercury maybe. >> Why? >> I don't know. I'd have to look it up. >> Symbol. >> I don't have my periodic table hanging here. >> Um, let's see what it says. Highgrade metal stand. It's the stand as the high grade. >> Okay. So, okay. So, it doesn't have anything. >> High grade copper. Yeah. So, um, if you look back and you look at a chart of where copper is now, and you stretch it back a number of years, this is the sixth time it's been at this price since 2011. >> H, >> so that's a six topper. You know, we talk about double tops, triple tops. >> Yeah. I never heard of a six top. >> Nope. Neither have I. But it seems like it's a pretty uh rough area to get through number one. But if it does, it could be dramatic. now. >> Well, that's no good. >> Yeah, >> we don't want copper to be dramatic. >> No, you don't want this going up. It's it's it's in everything. >> Copper is a major people start stealing it. >> Yeah. Start stealing it. Out of your >> They're stealing it now. But you can imagine >> Yeah. Nobody's going to have any kind of coils in the refrigerator. Everything's going to go bad. Take it right out of the bag. So, not the the this headline thing though, this copper could hit stratospheric new highs. You got to wonder if somebody is trying to corner the market or something. Copper's traded pretty heavily. >> Maybe they're trying to dump >> maybe. But I, you know, I was thinking about like who when was the last time we saw this corning the market trying to like that was the Hunt brothers. >> The Hunt brothers trying to corner silver. >> Yeah. Back in the 80s, Silva went to 11 from 11 to 50, then crashed. >> Yeah, it crashed. >> Bankrupted the Hunt brothers, the Comx changed their rules and forced them to cover all their positions. >> That was a margin. >> It was ugly. >> So, I don't know. Is Is this something I don't I don't think it's as dramatic, but I thought the headline was kind of interesting. Maybe it was a significant bull out there trying to really push the price through that resistance that a lot of people probably have their their their stops on on the short side >> maybe. >> So >> get a blip. >> Yep. So it was a good run. 35 years in the making actually. Uh the vacuum cleaner maker Roomba, also known as iRoot. >> Yeah. Company I hated. >> Yep. Filed for bankruptcy. >> H too bad. >> Yep. You should have been there. Could have been You could have been a hero. Following warnings issued earlier this year that it was fast running out of options. I Robot says it's entering a chapter 11 protection. There's no seven anymore. Seven's just out of business. 11 is we're going to reorganize. We're going to screw all the shareholders. We're going to screw a lot of the bond holders. Somebody's going to give us a chunk of money and we'll continue on. Yeah, we'll continue on. >> So, they're going to be acquired by its contract manufacturer, Pacia Robotics. Now the company says it's going to operate uh continually with no anticipated disruption in its app functionality, their customer programs, their global partners, supply chain relationships or ongoing product support. So everything is just fine. Now if you remember little quiz here, John, there was a company going to buy them at one time. Do you remember this? vaguely, but I cannot tell you what company that was. >> Amazon. >> Oh, I don't Oh, I don't remember that. Okay, >> I'll tell you what happened. It was 2022. Uh, Amazon was going to buy them for about $1.7 billion and there was all this hull. The the idea was, "Oh, this is brilliant. They're going to map your house. They're gonna take this robot, this I Roomba, this Iroot. Now I remember. Yes. The mapping the house gambit. >> Yeah. And there was going to be like >> because everyone knows that there's nothing more valuable than a map of your house. >> So, but the big thing was oh, iRoot's going to go and it's going to see like you have a lots of I don't know, right? >> Have a camera in there and check to see what you own. >> Yeah, exactly. You're going to have it's going to get bump into it's going to bump into toys and know that you have kids in the house and start advertising to you toys or uh it's going to find that uh you know oh they spilled a lot of uh tomato sauce >> and immediately yeah on right dog hair whatever it is and then going to start advertising you this is this can't happen this can't happen this is a horrible thing so um they they this was the greatest this is great primarily in the EU was a Um um there's a whole antitrust competitive concerns with Amazon and a floor >> because it's very it's anti-competitive because of Amazon's other robot vacuum cleaner. >> Right. Right. >> Which doesn't exist. What are they kidding here? >> The greatest thing about this was Amazon walked away with a $94 million termination fee. [laughter] >> Oh, good for them. which >> no wonder these guys are going out of business. >> Yeah. Which totally killed the the ability for iRoot to ever write themselves. >> We had one in the office for a while. Kind of goes around in circles. It tries to find >> neighbor has one and they you know they but they keep a you know a very u tidy house and this hardwood floors and it's the robot works fine there. But if you have a house that has, you know, any sort of anything that's challenging, uh, thick carpets is one of the one of the things, there's a lot of variations. It's useless. >> Well, and if you have any chairs that are like around a table, it won't go. It can't can't get under most of them. >> Yeah. It can't do that. It's >> going around circles. >> Yeah. Um, >> and there's competition. I think there's maybe better I think coming out of China >> naturally. Well, this these are these are these are built in China now. This is basically essentially going to be a Chinese company now. >> Yeah, that's yes the manufactur contract manufacturers >> everything. >> Uh let's talk about the Fed, shall we? The um the the Fed picked situation is really interesting. Uh, President Trump said on Friday that Kevin Walsh has moved as the top of his list as the next Federal Reserve chair even though Kevin Hasset remains in contention and in the running. A story came out with from the Wall Street Journal about this. It's interesting because uh just days after I remember this because I remember Hasset saying something I'm thinking, huh, that's kind of interesting. Why would he say something like that? He said that he would not let outside suggestions influence his voting. And one of the things I I was thinking about the reason why Hasset was in the running was he was pretty much a lap dog for President Trump, considers himself a friend and worked closely with him since 2017. And I think Hasset really is trying to make the case by being on TV all the time lately, by the way. >> Yeah, he's been on a lot >> a lot. Um, and if you listen to him, you I I I could be wrong about this, but most people I don't think are impressed when they listen to his way of being and his ability to command the uh the lead position at the Fed. He he doesn't have that uh leadership quality in my opinion. I I've heard this from a lot of other people. >> In your opinion, he's got no gravitas, which is the old term. >> Yeah, exactly. So, um I was thinking why why would he say something like that? That would probably piss off Trump. >> Well, not if Trump told him to say it. >> Well, that's true. Also, so that it makes it look better. Well, here's the thing. Um Trump has talked about um when he when he made the announcement that Walsh was in the contention and and looking really good, he repeated an assertion that he's made in the past that the Fed chair um ought to consult the president uh about interest rate decisions. And I heard President Trump talking about, you know, he's really smart. He knows the business. He's been in real estate. He knows the markets. He knows the economy. He's got the information. and he should be at least consulted. Now, he didn't say, "I should make the decision." That's not that's not something that was said, but but he did say that he should at least be in the mix somehow. Now, more interesting than all of this, because how did this happen? How do we go from Kevin 1 to Kevin 2, and now Waller's in the mix? Well, uh I think I may have mentioned, if I didn't, I'll mention it now about a week and a half ago before this happened. the prediction markets. We know what these prediction markets because polls are no longer a thing, right? We poo. >> Now, everything is a prediction market, >> right? We poo pooled the polls, right? The these presidential polls, the congressional polls, and all these we they basically said they're not worth anything anymore. >> So now the prediction, >> that's pretty much the the what we're trying to do here. Yeah. >> Yeah. Now the prediction markets are all the rage. >> Yeah. Well, they've been a rage for a while, but now they're really ever since everyone's sold into them. uh we have everybody and their sister with prediction markets available and uh once they became popular and marketed uh they became uh in fact I think logically they would become predictive in some funny way more so than polls >> and and the long >> people put this is like having an opinion but having an opinion and putting money on it. >> Exactly. Putting your money where your mouth is. >> And and I think there's some good things here. I think the predictive markets are pretty cool. Uh there's some definite things there that are interesting. But what I was thinking about when it came to this was, huh, about two weeks ago, I saw this prediction mark was about 93 94% in favor of Hasset. I said, and I said this to somebody in my office, uh I should put some money down on no Hasset. In other words, it >> would have been a good bet. >> It was a 5% to >> Yeah. They give you 20 to1. >> Yeah. 21 to one basically on this. So, I didn't do it. But meanwhile, now the prediction markets are about 50% in favor of Hasset, give or take. That's still a big move. That's still a 10 time. That's a 10 beggger right there from five to 50. So, I think it's kind of interesting and I just was wondering if you thought that there was any chance that the theory that we had >> whole thing is rigged. >> Yep. That's Yep. You knew where I was going. >> Yeah. That's what Yeah. Obviously, this is what you do. This is how you make money on the side. Be part of it. It's a prop bet is what it amounts to. We've talked about this on the No Agenda show every Thursday and Sunday 2 PM. The No Agenda Show. You should check it out. No Agendaow.net. We talk about the prop bet phenomenon and how easy it is to rig. You're up uh on sports especially the prop bet is you're going to catch five passes and you've got already caught in four and the half's running down. You got to catch five and a half. You dropped the last one. Are you right in your hands? Oh, I dropped it. Then it turns out your sister-in-law just made a million dollars. >> Well, we know that there's a couple different players that are being sanctioned because of this. >> Yeah, >> there's a pitcher, some basketball players. >> Yeah, the pitcher throw the ball in the dirt. Oh, whoa. Sorry, a little bit outside. >> So, I don't know. Was this rigged? I don't know. Big payday for people in the know, though. And I don't think this is something that's easily tracked or is being tracked. It's not like it's not >> they don't have enough investigators to track it. You just, you know, the way the market the way these markets work, the uh there's money in the middle and they just take that no matter what. >> So, do you think this needs to be looked into with people? >> Who's going to look into it? The FBI? How are they going to prove it? It's impossible. It's a bet. Is it Gambling should be illegal? Is there a prop bet or a prediction market that will predict >> with the investigation for the bad prop bets are going to go over? That would be a prop bet. [laughter] >> Yeah. So ridiculous. Housing prices, the average home price is down on a year-over-year basis. First time ever since I think it was uh I think 2000 early 2024. Active listings in November were nearly 13% higher than November in 2024, but new listings were just 1.7% higher. In other words, houses probably that means probably because we can say, well, that's good. We have active listings. Well, not really because if houses are selling quickly, they take down the active listings very quickly, too, right? So, this probably means that houses are on the market for a longer period of time. >> That would make sense. >> Yeah. Prices in Austin, Texas are down 10% from last year. Denver down 5%. Uh Tampa, Florida and Houston both saw prices fall 4%. And Atlanta and Phoenix saw price decreases of 3%. >> They were increased >> decreased. Atlanta and Phoenix saw price. >> Anybody increase? >> Uh there was a few here and I'm sure Miami. Uh that's Fort Lauderdale. It's just dumb. Um, but there's a few places around, but generally speaking, the the the overall issue is that prices are down and and and and listings are on the market for a longer period of time. >> Yeah. It's a slowdown. >> Yeah. Then you have what's happened with Zillow, another housing issue, another housing related uh story. Zillow shares plunged 9% on Monday. I wonder if they came back today. Let's see that if uh let's see. Um because Zillow's stock price today up two and a half% >> because of their shenanigans. >> No, not at all. Actually, it's because um there's a new competitor, Google search. Google is running tests on putting real estate sales listings into its search uh results like right there with everything you need to know. With everything you need to know. Now, >> I'm not sure where they're getting this from. But >> they're getting it from Zillow. >> That's They're getting it from somewhere. And that's Zillow was pretty upset about it. >> Yeah, I bet. >> Yep. Well, the stock was upset about it. That's what it was. Um, all right. The UN the black hole, the black hole of economics. We talked about where there's some estimates coming out. There's some other news coming out today. We saw the BLS put out the November jobs number, the jobs report out this morning. It was supposed to be out the first of uh of of December, the first Friday in December. Uh but that didn't happen. There's the first ever gap in the critical data since 1948. Uh some data is going to be estimated, but basically we saw 4.6% unemployment rate, a little bit better um actually a little bit worse than anticipated with a 64,000 addition to the payrolls. So, we're going to also see some uh it's not going to publish the headline CPA CPI number uh or the so-called CPI number, the core. So, that's not going to happen for October. So, we're not sure what to do about that. Uh there's a PPI coming out. There's some other things coming out. What else do we have? is in manufacturing and non-manufacturing both slowed over the last month. So, we're seeing a partial picture at best and and with that partial picture, John C. D'vorak, I'm not buying any of it. I'm not relying on any any of this data to be to be accurate. >> I think it's probably all wrong. >> Yeah, I think the revisions will be pretty substantial. Meanwhile, even though we have a a dir of or not a darth, a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a uh vacuum of uh economic activity, information, the Fed decides, we're going to cut rates. They were split and there was a pretty big split actually where um the priority should be whether to, you know, cut interest rates. There's a 9 to3 vote. There was some dension. There was some other things. Um the dot plot also indicated just one more reduction in 2026 and one in 2027. A lot of disagreement about when and what should happen. So in addition to the rate decision, there was a 25 base point cut in rates. Fed also announced that it will resume buying treasuries. Now this is something we talked about. They were going to stop the quantitative tightening and go back to buying the runoff bonds. So when a bond matures, they'll buy them back so that they have the same amount on their books. But in this meeting, they said they're going to start doing it immediately, which was kind of like, huh? What do you mean? >> Yeah. What do you mean? >> Well, that means in my this $40 billion in Treasury bills they're going to start buying on a monthly basis. What it means to me is that there's a liquidity problem out there and they need to get keep continue pushing uh funds into the system. It was very confusing at first because at first they're like, well, we're not, you know, we're going to reduce rates and it was a little bit hawkish, but then it was very dovish and then they came out with this thing and then you have to question, is is the bond buying just something they're doing just to be safe or is this something they see? Is the fact that they reduced rates and did this at the same time a reaction to something? And you know with the fact that we know that there's data they don't see. So how is it all happening? Is there a bigger concern? >> So >> data we don't see. >> Yeah. So a larger group than usual of regional Fed bankers the president's signal they oppose the cut. six policy makers in the said the benchmark fed funds rate should end in 2025 at the range of 3.7 to4 which it you know which suggesting they oppose the move so long bonds haven't moved at all but they this happened so there you go one of your favorite places Costco came out with earnings beat Wall Street's financial expectations for the first quarter sales revenue sales rose 8.2% 2% digital sales jumped 20% compared to a year ago in this quarter. So they surpassed the quarterly growth expectations posty year-over-year sales of 8.2. That's great. Uh more digital sales and open new locations, earnings per share 4.5 versus 4.275. And in addition to that, they had um revenue slightly higher than um was anticipated. A and um what else do we have here? Um Costco didn't provide and they don't provide year- ahead guidance. That's something to look at. Now, the stock is was down today. It's at $830. I believe it was down at a 52-W week low. Let's take a look at this. Um this is monthly. Let's go to one week over this period of time. Yeah. So it was um in the beginning of this year uh let's see here 121. That's not right. 51. This is the dumbest chart I've ever seen. Okay. Here. This is the worst chart I've ever seen. I don't know where this came came from. Bottom line is the 52- week low. I know that. So, there you have on that. Um or close to it. Year-to date down 5.61%. Now, what's interesting on that note is uh the stock's doing pretty well. So, I don't know what the problem is, John. >> Yeah, Costco. I own some some Costco. >> Good company. Well, down a little bit, but in a decent tape, it's not so good. Now, here's some fun facts. You want to hear some fun facts? >> Sure. Costco has lots of fun facts. >> Yeah. Uh, about 4.45 million pies were sold in the 3 days before Thanksgiving, which is roughly equivalent to 7,000 pies per warehouse. >> That's a lot of pies. >> 7,000 pies in three days. These were like pumpkin and apple and all that. >> Yeah. this. They have pies. I I don't I find their baked goods to be uh of middling quality. >> They're huge. >> Everything's cheap. >> Yeah. >> It's like for the quality, it's a good deal, but it's not like high-end bakery quality, >> right? Costco has more than uh had more than $250 million in non-food online orders on Black Friday. A record. Now, here's something else. Approximately 358,000 whole pizzas were served at Costco's US food courts. A 31% jump from last year. It's a average about 500 pizzas per store. I think that was um I want to say that was Halloween or something. There was a weird date about that. >> It's a lot of pizzas. >> A lot of pizzas. Yeah. >> Their pizza is another product that is like middling. It's >> middling. But you know, a buck and a half for a hot dog. Is it a great hot dog? No. It's fine for a buck and a half. It's fantastic. No. For a buck and a half with the hot dog. Yeah. With a free drink. >> Yeah. Fantastic. The best. >> That can be refilled. >> Yeah. [laughter] >> You can literally eat for like $4 a day. >> Such a deal. Yeah, you could. Those hot dogs are big. They're giant dogs. >> Well, the first thing you do is just go around the store and you get your your hand your your appetizers at all the different >> Yeah, there's appetizers all over the store. [laughter] >> You can get by without getting sick, >> right? >> Uh or go back for seconds on some of the appetizers. >> Yeah. You got a little crackers first. You got a little cheese. You got something a little sausage on a stick. >> Yeah. They have all the all the regular stuff and little gobs of goo and a little and a little bitty thingy. >> As you're passing the the the the produce, grab a couple of grapes on your way. Nobody's nobody. You could um and then uh yeah, you go hit the dog and uh get some sauerkraut, >> right? You know what we did in the uh in I don't know if you ever had a thing, but my family was always my mother always grabbed a handful of snap peas and handed to them us in the grocery store for us to eat. Did you just take them? Yeah, snap peas. Just open them up. >> Um fat no more, sir. Even though you're going to have these hot dogs, you're not going to gain any weight because there's something called retatrite. Retatuitride. Retatuitride. Retat true. Wait a second. >> Where is this thing on here? >> True tide. Reatride. >> No, you you have to be pronouncing it wrong. >> It's re ta. True. T ru t. Rea tide. Why can't they have some? >> We'll go with that for now, but it's got to still have a >> Eli Liy said the next generation obesity drug delivered what appears to be the highest weight lost seen so far in a late stage trial and reduced knee arthritis pain. There you go. >> Yeah, there you go. >> There you go. You get your knees will be fine. Probably because you're not you're not you know why? Because you're not so fat above your knees. Your body's carrying a lot less weight. Here's something that's fascinating. In a 48week phase two trial, participants said the highest dose lost an average of 24% of their body weight. That's a lot. That is a lot. >> In a recent phase three results showed p patients on the highest dose lost an average of 28.7 of their body weight after 68 weeks. That's a lot of fat. >> Yeah, people are fat. >> 28%. You're 300 lb. You basically lose 30. Let's say you lose all you're back to 200 lb. 210. Pretty good. >> Yeah. Yeah. If it doesn't kill you. >> Yeah. Well, the trials also showed improvements in related health concerns like knee, osteoarthritis, pain, blood pressure, and liver fat. And like I said, you can it grows hair back. >> The triple threat. >> Yeah. >> Wait until you see the contraindications and side effects. >> Yeah. So the triple action is what makes this drug potentially more effective. It hits three different receptors. Uh Zepbound, their other drug targets two receptors. Well, Goi targets only one. >> Let's see. >> Interesting. >> Yep. PayPal Holdings applied to become a bank in the US looking to take advantage of the Trump administration's openness to financial technology companies entering the banking system. I'm surprised they haven't been made a bank by now. >> I know. I agree. >> Because there are they are a bank. >> It's basically what they do. >> They have lending and all that already. Uh big news about Ford Motor Company. Ford very confused. This management sucks. Can I can I I can't say that uh with with the right amount of emphasis. >> Yeah, I can imagine it sucks because it sucks. I did some uh I got on one of their I was I got on a junket some years ago to Spain on the on the Ford dime and uh they just didn't do it right. I mean I know what a junket's supposed to be like, what you're supposed to do, how it's supposed to be. And I tr I was trying to tell them about it and they said, "We're not interested in anything you have to say." >> Yeah. >> And that was that. They just they're closedminded uh management. >> Yep. Well, instead of planning to make enough electric vehicles to account for 40% of global sales by 2030 as it planned just four years ago, Ford said, "No, no, no. We're not going to do that. We're going to we're going to focus on a broader range of hybrids and extended range electrics and battery electric models, which is basically hybrids and all that." Executives now will say account for 50% of sales by the end of the decade. The automaker says that the hybrid versions of almost every vehicle in its lineup are going to be produced. So, they're going to take a $19.5 billion special charge during this quarter >> because of the waste of money. >> Yeah, they're restructuring their business, probably throwing away cars. They have to restructure all their factories, uh, getting away who knows what other excess materials they have. Who knows? just what what's what's really disturbing about this is that they make these long-term commitments, which they need to to a degree. I get that. But they make it in such an all-in fashion that if they're not right, they can screw themselves like they've done time after time. >> Yeah, they have done it time after time. They went big when everyone went small. They went small when everyone went big, >> right? >> They did this, they did that. They It's kind of ridiculous. Yeah, they're almost trying to hit a home run now. Maybe this hybrid process that they're having is going to maybe it's a better plan, which I think it is a better plan than the, you know, >> I like hybrids. I think they're it's a good idea. >> Yeah. Australia, real quickly, Australia's implemented a groundbreaking ban preventing children under 16 from accessing major social media platforms like Tik Tok and Instagram, Facebook, and that's effective now. Except Blue Sky is exempt for some reason. >> There's a bunch that are exempt. Uh Facebook, Instagram, Snapchat, Threads, Tik Tok, X, YouTube, Reddit, Kick, and Twitch are all banned. Reddit's suing. >> Oh, good. >> Yeah, but Reddit is suing saying it's unconstitutional. Now, here's the interesting thing. If they win, don't you think that the tobacco company should sue the government saying it's unconstitutional to ban cigarettes to young children? I don't think cigarettes are qualify as free speech, which I think is the angle here, >> I guess. But does do children have free speech? Are they are they they're not of majority? That's what the angle is going to be on the other side. Well, we'll see. Whatever. Well, we'll see how it goes. >> All right. And I'll save for last. I promised this at the beginning, didn't I? Before we get to the game that we have something to talk about, it's once again Oracle. >> Yeah, your buddies. >> Of all the eyepopping numbers that Oracle published last week on the cost of its AI data and the center, you know, the data center buildouts, one thing they left out. They left out. It was a day after that they talked about a detail of a $248 billion lease payment commitments that substantially all related to data centers and cloud capacity arrangements. And these are due to commence between now and 2028. But they haven't even put those on the balance sheet as as as as liabilities as long-term, you know, liabilities for the future. That's almost 150 bill. It gets worse. That's almost $150 billion more that were disclosed in the footnotes in the September's earnings update. >> Huh. >> So they doubled up since get more than that since September in their commitments. No wonder why Oracles stock is floundering or doing >> Yeah. Well, well, it should. >> 85 or something like that. All right, let's get to the game. Here we go. 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 company, myself or John Cedavor 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. And by the way, you have Eli Liy on the list. >> I do have up 43%. >> Yeah, it's the winner on the list as we speak. It's a beauty. Yep. >> Not much exciting here. And by the way, before we do this, I would mention it is that time of year is the holiday spirit of giving and receiving. I know that you're receiving. You're listening right now. You're receiving. It's it's just way it is like a transmitter and receiver. We're transmitting. You're receiving. Now, you have to be giving. There's a way to do that. The way for you to transmit is go over to dhunplug.com. Pound on, smack on, hit on, bounce on that yellow button that says or or as I guess you say on no agenda button. Button. >> We don't say button, but a lot of people say button. >> Button. [clears throat] >> Yeah, hit that button and uh make sure to um donate during this holiday season for all these great ideas that we give you throughout the show and the stimulating discussions about how not to cut your finger off or recipes. So I if you want maybe we can even start drumming up some of my discussion on my latest recipe direction which is making my homemade bitters and tinctures for >> No, you should talk to my son. He's all into this. >> Oh, yeah. I should I should >> He has a bunch of theoretical ideas that you should listen to. >> Oh, that's good. I would I would I would like to talk to about this. I'm making right now a um um it's a it's a chocolate bters. >> Yeah. Yeah. You're going to have nothing but fun. Yep. >> I'll just stick with my vinegars. >> Y >> u >> Let's hear about >> Yeah, he does it. He does it right. Well, can you give him my number? I I'll talk to him. >> I will definitely pass it along. >> Uh let's talk about stock. I have no picks this week. >> I have one. >> What do you have? >> I have a Baker Brothers pick. >> Oh, you know, I was wait I was looking at that the other day going where are the Baker brothers? >> Well, here they are. I was looking at their track record over the last couple years. Unbelievable. >> Well, we know that >> one company. >> Are you surprised? No, I'm not surprised. But I'll say one company there was a big failure which was uh they did have a flop. They had a penny stock that they were in on KA Bio Biotech company and they finally that move didn't that move up. Is that Caleb? >> They're out of it if it moved up. Um >> what's this what's the symbol? KALA. I mean, they they got out of it back in October, September, but they had uh it was the only one I've seen that that hasn't performed well in their I'm looking at their history. So, the latest thing is is this crazy that this stock uh I'm not sure what they do, but the term may have something to do with it. Chimera Technologies. It's already had a big runup, and they bought it after the runup, and that means something. They know something we don't know. And uh it's K YMR >> and it's about8 $86 or so. >> Uh Chimera Therapeutics. >> No, right. >> No, that's $445. It's $84. Yeah. Yeah. >> Yeah. 84. Yeah. They got in at 86. So they So this is the beginning of their investment. So, uh, and they you and they're really good when it comes to these biotech companies. They there's something going on. They know stuff. >> This stock is up, uh, 43% year to date. >> Yeah, because it had a big jump. >> Yeah. I'm looking right now. You know, Google I'm looking on this different site for whatever reason. Google Finance has a new beta. It's kind of interesting. So, >> is it any good? >> I don't know. I'm looking at it. I'll see what it has. Um, it has basic stuff, but it's it does some charting. Uh, >> I tend to use Yahoo Finance. >> Yahoo Finance is better. This is This is just basic stuff. Has some research in here. It has an AI mode, of course. Uh, is the beta list? Yeah, there's a beta one. You have AI mode. You could ask questions like what are the top stock movers? Um, I I'll check it out. All right. Chimera and uh we're gonna say is Baker Brothers. Yeah, that's all there is to it. >> All right. All right. Until next week. Next week will be uh one of the last shows of the Is is next week the last show of the year? No, there's one more before that. So, two more shows. Counting down. Two more shows of the year. >> Pretty exciting. >> Yeah. So, people should help us out here with a donation. >> Donation time. Go hit that button. >> Yep. Do it. All right. I'll see you next week. >> Okay. Bye-bye. >> Bye. >> You've been listening [music] in on a conversation with John C. D'vorak and Andrew Horowitz. Hope to be with you again soon. Bye-bye. [music] >> 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 [music] can hardly tell by a glance. I don't care. No millionaire can give me the ISIS [music] stack. Cuz I got a dollar. My last dollar bill. [music] 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 Horowis 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. 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DHUnplugged #782: Black Hole Economics
Summary
Transcript
Hello and welcome to D'vorak Horowitz Unplugged, an hour-long discussion of activity in the financial markets around the [music] world featuring columnist John C. D'vorak and money manager Andrew Horowitz. This conversation is [music] casual and unrehearsed. Let's join John and Andrew now. [music] >> I'm John C. D'vorak >> and I'm Andrew Horowitz. >> And it's halfway through the month of December. It is the 16th. This is the last full week of stock trading of the year. >> Oh, that's right. Yeah, because next week there'll be a day off and same with the week after that. >> There's a half a day and a day next week. >> Yeah, it's that's typical. >> And then the last last week, the last day the the last day of the year, there's no breaks. goes right to the end to make sure everybody has whatever they have to do whether it's distribution issues whether it's sale issues whether it's buying whatever has to happen they're not going to limit you on that and you have the Friday too which nobody will be working but there is that Friday after after New Year's that's on the second >> second yeah that would be after New Year's >> yeah well it is the last chance for those participants that have won in the past the close to the pin on DH plugged throughout 2025 to get in on the action. A few of you have already put in your price guesses and we have announced those. We have sent you emails and you know if it ends up only being three people out of the eight that signed up, well that's a small pool and that's we'll have the opportunity. But I would wager because I think there is still a little time. There is, let's see, there's 3 days, 2 hours, 57 minutes, and 37 seconds for those who are in the pool and in the running to sign up. So, you still have a little bit of time. If I was doing it, I'd wait till the very end as well, right? Why? Why? >> Yeah. Why take a chance? Well, let me get as close as possible to to the >> Well, it also could be a market could have some sort of a catastrophe and between now and then it would turn everything around or some ridiculous good news would come about or who knows what. >> Yep. Exactly. Uh it is happy Hanukkah time. Eight crazy nights. It is the third night of Hanukkah. So, I wish you a hagame, a happy holiday, and a happy Hanukkah. >> Yeah. Well, same to you. >> Thank you. Uh, >> although I can't pronounce it. >> I haven't gotten any gifts now that I think about it. Did I get any gifts? No, I given I've given some, >> but >> I want to mention, by the way, that little six-pack you sent me. >> The wine. >> Yeah. >> Mhm. >> I I notic you had a Dominus in there. >> And >> well, well, I haven't I just didn't crack these wines open yet. None of them. But that's a pretty That's a good one. >> Well, you deserve it, sir. We've been palsy wowsies for how long? >> 12 years, 14 years, 15 years. >> Right. A long time. >> Actually, we we're met at the little restaurant in Berkeley about two or three years before we started doing the show. >> Yeah. Remember that? And then we met on the then we met on the uh on the what would we call it? On the stage of Twitter, too. >> Yep. Yep. On on that. Have you talked to him at all? >> No, not for a couple years. Is he still doing his thing? >> Well, obviously he's not as successful as he used to be or you wouldn't have asked a question that way. >> That's true. That's true. >> But uh Yeah. Yeah. >> Leo Leaport, interesting dude. We have sad news about Rob Reiner. Awful situation there. Terrible. Just the whole thing. Uh the Fed decision is out. We'll talk about that. That was last Wednesday. And we have overdue economic reports coming this week. Some of them have already been published. One of them today that was kind of interesting. But a lot of it is still pretty much in the dark. We're pretty much in no man's land. Black hole of economics. That's where we are. They just they just got sucked up. And some of the ones that are coming out are going to be just estimates. [laughter] Have you heard? Have you ever Well, it's kind of funny. On one hand, I say it >> actually I have. This has happened before. When has this happened? >> This happened back in the IPO uh era. It the one that was really hot in the late 90s >> that there was economic data that was just estimates. >> Oh, no. I'm talking I thought you were talking about Okay. I'm sorry. I got mixed up. I I misheard you. >> Oh, what did you think I was talking about >> about IPOs? Because I was I was looking over this the sheet here and I was reading about it. >> No, no, the IPO. No. Um IPOs. No, no, we're talking about eco eco economics. >> Yeah. Uh, you know, I could probably uh save myself by coming up with an example, but I can't. >> Yep. There was uh there was none in fact of the uh we can go back to I think 19 I want to say 48. So that was a good 80 years ago. G give or take a couple years uh that the BLS started putting out the unemployment numbers. And uh I think this is the first time ever that they've skipped. Well, it hasn't been that long. >> No, no, it could have been longer. Could be longer. Could have gone back to caveman times. Oracle still problematic. More news coming out. We'll talk about really interesting stuff that's happening there. Again, I keep using the name poster child of the AI potential bubble or the overstatement or the circular financing or the vendor financing or the open AI horseshit that's being sled and slung with regard to the future potential. I mean, I I I really wish I could have in my business. What they did was is kind of illegal, saying how much we're going to make for you and that how much we're going to make for our company and then promise the world. If I said something like, you know, I guarantee that we will or I will I will >> Yeah, but they're not guaranteeing anything. >> They're not guaranteed because they can't guarantee. But even if I said the things they said, >> if any other company said the things they said, they're private, too. That's another thing. They're not regulated. Well, you can say what you want when you're private. >> Yeah, exactly. That's the point. SpaceX IPO is coming probably in 2026, but it's been a big discussion over the last few days and the huge increase in valuation over the past three months. Wait till you hear the numbers that are being banted around of what the valuation of this is now. And we you and I have tracked this for for some time. >> Yep. and I had the opportunity to get into some of this and uh now I look back on I'm think wow that minimum two it was a minimum $250,000 to get in it was a 15% initial take by the firm as a commission. So that would be for there you're talking about you know 35 $40,000 right there right 40 it would be 20 250 half 32 $32,000 commission then it's a 2% annual fee as they do nothing but hold your money hoping that SpaceX becomes something then they take 20% of your profits which is all good if you think about it if the 250 is now a four-timer if so what if they took 35% 40% >> you come out ahead. >> Yeah. So that's going on and but but really interesting on on I don't even know how they're coming up with these valuations. Um we have another bankruptcy going on right now. We'll talk about that. Oh oh oh the big news. Oh boy oh boy. There was some money to be made here. And I thought about doing it, but just I decided we'll see what happens in in a minute or two. Uh we have now the Kevin and Kevin. We have Kev and we have Waller. Kevin Kevin Waller. So we have Kevin which is the Hasset. >> Yeah. >> Which is the again I I just have to say it every time. >> Next Fed chairman >> ill ill ill illfitting shirt and tie. >> Yeah. Right. The guy with the big 16inch neck on a 13inch neck. Yeah. >> I can't take it. Um, and then and a real round head like son of yellen. Okay. >> Yeah. >> Um, another South Park character by the way. And then >> Yeah. [laughter] Yeah. I'm not going to argue with any of this. He's pretty it's pretty funny. >> Uh, and then we have uh Kevin Walsh. Walsh. Worsh uh who is actually in my opinion probably the best uh of these most level-headed it seems. Not necessarily going to pander to anybody. And then you have now Waller um who is is being interviewed as well. But the two Kevin and Kevin are the big numbers. We'll talk about what happened there. Really fascinating stuff. Weight loss game continues. Oh my, a triple this time. Not one receptor, not two receptors, but three receptors. And not only that, you can cure knee pain with this drug all at the same time. >> Wow. >> Yep. There's big news there. And we're going to save one thing. I'm going to do a a little open-ended, nondescript teaser. We got a doozy for the end of the show. So, you ready to go? >> Yep. >> All right. Tesla alltime high. Uh I think it hit 495 today, something like that. >> Now, this is this is with multi-year lows of car sales. >> Yeah, I It's ludicrous. >> And you have to wonder what is this all about? Is it because maybe somehow there's a attachment to the whole SpaceX deal? The excitement about SpaceX. But I looked and Tesla doesn't own any SpaceX. I mean, Elon does. >> But SpaceX could buy them. >> That's possible. >> They do these kinds of consolidations. >> Roll it all up, right? But now >> Yeah. Roll it up. >> But can will they at this price? Maybe if Tesla I mean, excuse me. If state Space S X does go public, >> he's going to be worth something about north of I don't know 600 billion, >> which is >> larger than what do you what what do you do? How do you There's no FDIC on that by the way, >> just to be clear. >> There's no what? >> FDIC insurance of the bank. >> No, of course not. >> Yeah. Uh you know, so I mean his movement in any given day of that stock could actually buy or sell a a bank, a regional bank. >> Yeah. Oh, easy. So what's going on? Well, the prospect of robo taxis is is living large in the heads of investors and >> yeah, well people talk of big game. Meanwhile, we have them. >> Do you like them? You have Whimo. >> Yeah, Whimo. Whimo. They gave the Whimo first is in San Well, San Francisco and LA and then they're now rolling out. So I think on January 1st it'll be in the East Bay which means Oakland, you know, the whole East Bay area, Berkeley, and all the way up to Sacramento. Are you going to have you been in one? >> No. >> Will you go in one? >> Sure. >> I think you need to do a a a boots in the car. >> Yeah, I probably should. >> You should do a boots in the car report. >> People that the people I know that use them. Yeah. And there's plenty cuz they're doing quite well for themselves. Um they're used they were actually like you they used to use Uber and they find that these are better. >> They they don't have to deal with the driver and a tip, >> right? And and stink sometimes a little bit of a car smell from all the people in and out and sitting and driving all day. Have you noticed that? >> Yeah. Well, there would there's an element there. I I haven't run into that cuz I don't use those services that often. I like to actually like to drive. >> I will tell you though that the differential between Lyft and Uber. I've been to many cities and Lyft consistently is cheaper by a long shot. Like I can go to the airport here, maybe Uber will cost me $18. Lift could be like 13. >> That's a decent percentage wise savings. That's a big savings. >> Yeah. >> I always go back and forth and check. I don't know why there isn't an app out there that will consolidate kind of like a kayak. You know, the kayak app. >> Why not? >> Why isn't there an app now that will consolidate the best price and bring the best price up to the top and the the best price and closest car? These companies don't have API. >> A great app. >> I understand. >> I think you already stumbled onto one. I don't I can't imagine that I'm the only one that has thought of this. There must be a reason why it's not out there. >> There probably is. >> Yeah. So, what else? Uh, Wall Street never sleeps. The new thing NASDAQ is filing to extend trading to 23 hours a day on weekdays. Oh, [laughter] >> why shut down all? >> I Yeah, the computers need a break. Got to put a little oil in there and >> change the little lube job. I don't think so. >> I don't know. Uh there's no reason to shut down at all if you're going to do that. >> They're shutting down for some reason. I don't know why, but 23 hours probably >> make sure that the the the books are uh properly rigged. >> There is something probably about closing the day and then reopening the day. >> Yeah, but you don't have to do that. It doesn't take an hour to do that. You can do that instantly. >> And when is that going to happen? Is that going to be at midnight? What? Eastern? Greenwich mean? Uh >> it either has to be eastern or greenish mean. >> Yeah. Now, banks are concerned about this because uh they're concerned about investor protections, cost, liquidity, volatility, risks of non-stop trading. I can I go along with that that there is some liquidity already. There are stocks that are traded 24 hours a day like the spy, the QQQs, but the volume and the interest is really small. Now, the reason that this is being pushed is because there's a talk about this would be really helpful for global traders that want to trade, for example, Apple, but they're not up in the middle of the night and they want to trade on the US exchanges or they want to change. >> I suppose the problem is the risk of, you know, of a runaway uh market is just too high. I don't understand what why they do it. They there's one big reason why they do it. They want more fees. >> Yeah. Well, that's obviously the reason, but they're asking for trouble. >> This reminds me of what happened many years ago with the holidays where all these stores decided they were going to stay open during Thanksgiving. Remember that? >> Vaguely. >> It was they they're going to they said they'll have more selling days ahead of Christmas. And then slowly but surely, they all decided, "All right, we're closing down." Stores were open. All of them were open. I mean, I this year I don't think I think Whole Foods was open till like 11:00 or something or 1:00, but Publix, all the supermarkets were closed, pretty much everything was closed. And of course, you know, the one thing, the one day of the year that this particular type of restaurant closes, which is probably brilliant, you know what? What what ethnic ethnicity is closed? >> Yeah, we're talking about Jewish and the Chinese restaurants. Chinese restaurants. Chinese restaurants are closed on Thanksgiving. At least down here. Well, everywhere that I know, which makes total sense. >> Why? >> Because most people are not eating anything but turkey, >> including the Jews. >> Yeah. No, it's Jew. Yeah, of course. Well, >> it's on Christmas. >> Sunday night. Sunday night is is Chinese food night. >> This is a Sunday night. >> You have to have If it is not If it's If you don't have Chinese food, it's not a Sunday. >> [laughter] >> It's just It's not possible. >> When did that start? >> It's not possible. We had Chinese food last night. It was horrible. >> Oh, you got to find a good restaurant. Chinese food is fabulous. If you can get somebody that knows what they're doing >> there, down in Florida, there is a >> Can you cook a ch the cuisine? By the way, >> there is a few items I can cook. Yes, I can make like a a stir fry with black bean sauce or I can make, you know, some of the But I can't. So, that stuff is very You need so many different >> I can cook the cuisine. Well, you can, >> but I have a I have a store down the street called 99 Ranch, which is a large monstrous supermarket that has all the ingredients that you can't you can't get, >> right? It's the ingredients. The ingredients. I mean, I make some things like I use fermented tofu with the sesame paste and make this really good like hack chicken, hack noodles, u which is a Hunan dish. Um, but many a lot of the stuff is fried. I don't like to do that in the house because it stinks. But I'd rather find a good place. Dumplings I've made. >> Um, >> that's a challenge. >> Dumplings are interesting. They're they're hard to make. Soup dumplings are very hard to make. Very difficult. You have to make a gelotinous kind of core so it doesn't, you know, then wrap it. But I have a I The whole wrapping and the closing the dumplings is just too difficult. I don't like all that. Um, but I do have one great, as a matter of fact, I'm going next Monday for lunch to a place called 1010, which is a dim sum cart restaurant, which you have plenty of in your area. >> Yeah. Even though the best one that Mimi and I've found in the West Coast is actually in Victoria, Canada. >> Really? >> Yeah. Oh, it's a fabulous place. They have a little miniature Chinatown in Victoria and they got a dim restaurant there that's just a stunner. Love that. Love that. So, uh anyway, um I don't know how we got to that from Oh, I got the Thanksgiving at Chinese food. Yeah, SpaceX. Let's talk about that. This is uh Elon Musk's other billion multi-billion dollar company aiming for a potential $ 1.5 trillion market cap with an initial public offering IPO in 2026, which could become the largest IPO in history. It will. >> Was the A Ramco IPO? >> That one was Oh, that wasn't that big. Let's see. What was that? Um >> I thought that was the biggest in history. >> Well, it was then. Let's see what it was. Uh when a Ramco came in, it was uh 26 billion it raised in 2019. Um this offer sold about 1 1.87 trillion. Yeah. >> So maybe this is the largest one in the United States. Largest IPO. Maybe it's the largest IPO in the United >> has to be the largest IPO in IPO history. >> Well, one Aramco was 1.87. >> Oh, I Oh, I thought this one I thought you just told me it was 226 billion. >> It was 26 billion raised, but then don't forget they have the treasury stock they hold back. That's what they let out in the float. >> So, okay. The total of it was um it was 1.5% of the company and it valued at 1 1.87 trillion. >> Okay. Well, that Yeah. >> So, uh >> so it was bigger. >> Yeah. So, let's see what happens there. The largest IPO in history. It eclipsed Alibaba's previous record. So, this could be the largest in the US history. So, um here's something interesting. In July 2025, I went back and I looked at some of this. That's not too far. Uh but you can look back probably the beginning of this year. Bottom line is in July 2025 the tender valuation was 400 billion. That was the last we heard too. 400 billion. 400 billion. 400 billion. Now all of a sudden 4 months later it's 800 billion. And now we're going to have the potential for this to be worth 1.5 trillion in within one year. >> It's doubled and doubled again right before your very eyes. Ladies and gentlemen, >> it's unbelievable. I don't know if this is going to play, but everybody's getting really interested in this. I have people that don't like investing in stocks talking to me about, hey, can you get this IPO forward? >> Oh, this is a this is a bad sign. >> Yep. I've seen this before. >> Yeah, I've seen it before, too. And it means the market's going to crash. >> Anytime we used to get IPOs very regularly, but anytime I was able to get a full allocation to an IPO, I decided that was an IPO I didn't want to be in. It makes sense. >> I just said I'm not doing this. >> Yeah. >> It's like a club that would have me as a member. >> Yep. Exactly. Uh Starlink is the primary money winner of this deal. That's the one that's making all the money inside of this inside of SpaceX. They are talking about like rolling up XAI in there and XAI keeps getting ridiculous multiples and valuations as well. >> It's ludicrous. >> But I I will tell you Grock is kind of interesting. I told you I did some stuff with Grock. It's snarky. It's interesting. It's fast. Um, I will tell you that co-pilot has been the co-pilot chat, I should say. I've been yelling at this guy. I'm I I f if if there is a if there's the potential to have a crime against um uh AI verbal abuse, I'd be getting arrested right now. Okay. >> What is it what is it telling you? >> Well, what's happening is if you don't shut it down, it seems to only go back. So, so let's say I'm talking about this is talking about apple pie and like a few hours later I go back to the app and I'm like, "Hey, I want to talk to you about a quarter inch pipe uh fitting that's involved in, you know, what what is the best um way to uh connect that with should I use teflon tape?" It would say, "Oh, so let's get Oh, yes. So, you're thinking about apple pie and a refrigerator." I'm like, "What? What? No. Or or I'd come back and say, "Oh, let's go to that deep dive. What is interest before?" So, if I said the same thing, if I said if I came back and I said, "Let's talk about the quarterinch pipe with teflon tape." I says, "Tell me what is interesting you about plumbing." Like, I'm not I'm not asking you to have a I don't >> This sounds idiotic. >> Be my answer. No, but if you shut it down or restart it, it kind of restarts back to square one. >> So, it kind of gets stuck on your earlier queries. >> Yeah. That's really kind of strange. It's like almost you have to even if you said if I stopped if I did the same thing I said okay let's have a new conversation. >> It would say won't do it. >> It would just start talking about dumb things. >> It sounds like a nightmare. I don't use I've never used it at all. I hate it >> because it keeps interrupting me. I just think of as clippy on steroids. >> There there's some good things I like but he they get this partic I should try a different >> model. I have short answers on there, but maybe there's a different model I can get because it annoys me. It's like, oh, so welcome back, Andrew. What could we dive into today? Always the diving. And >> yeah, diving is like a big deal. >> And then if I said the word like oregano, oh my oregano, what a wonderful you know. No, I know I was talking about Oregon, not oregano, you know, something just stupid. Um, let's see what else here. Uh, Rob Reiner. uh saying goodbye to him. Sad situation. I don't want to talk about it. >> Yeah. Yeah. You don't want to get killed by your kids. >> I I I I find that such a horrific thing. The the the the image of waking up to a deranged child with a sharp knife or something hovering over me, hacking up my wife or something, and then coming after me. Well, he slit their throat. So, I think he snuck up behind them >> while they were sleeping or >> I don't know how when or how or what. I mean, all I know is when you slit somebody's throat, usually that's that's it for them. And then if you're nutshit somebody's throat, >> that's a good question. I think you probably should have some some knowledge that you picked up somewhere because I don't think it's trivial. >> Yeah, because you need to probably get the right spots too. I mean, you have to do like a wide, you know, like in the movies around the whole thing. You want to get the jugular and all that, right? >> Yeah. That's what causes the mess, >> right? >> Yeah. >> You don't just want to do the center because, you know, that probably is just going to be painful. >> But listen, I I you know, talk about this. >> That thing is grotesque. >> Yeah. Got I have a story about this. Uh, it's it's a a little bit of mini grotesque situation. A dumb ass amateur move that I did this weekend >> in the kitchen. >> Okay. >> I >> in the kitchen. Oh, you cut yourself. >> Yep. I took out a brand new spanking brand new mandolin. >> Yeah. A big metal one. >> Yep. A brand new one. And I decided I'm >> a good one. >> Yeah, it was a good one. It's And let me tell you, >> I I have one of those. They're dynamite. >> Let me tell you, it could slice. Oh yeah. [laughter] That's why I wear chain mold gloves when I use it. >> Yeah. So I had the gloves. It came with it and the protecting thing. You know that the one that you put the fruit on or whatever and you have the spikes and you can use that. >> Yeah. You stick there. You just got to you stab the food and then you go nuts. >> So I was doing a lemon. I'm like, "Okay, let me do this." I'm like, "This is not a good idea." Lemon. This is not a good idea. Not a good idea. >> No. You have to use a Japanese one of those sharp little handheld mandolins the Japanese make that are very small, but they're super sharp and you can cut it. You can do You can do a lemon. >> I have that as well. But this one was super sharp. I'm telling you, I just I was gliding over just slicing his lemon. Okay. And I'm like, I shouldn't do this. I shouldn't do this. I shouldn't do this. I'm like, ow. That was that. >> But you had the chain mail on. >> Nope. [snorts] >> Oh, brother. [laughter] >> If you're thinking to yourself, I shouldn't do this, that's when you put the gloves on. >> Well, this is like the second time I've had an incident like this. The first time >> I was getting on my boat. >> Yeah. I I clipped the the top of my index finger just deep enough to be painful. >> But >> you're just making you're making everyone listen cringe. >> The last time I did one of those I shouldn't do this, I shouldn't do this. I was carrying a cooler in my left hand, something in my right hand. I had to I had to uh do a large stride from my dock. >> You shouldn't do this. You got to stop and think when this happens. >> Yeah. I took a large stride from my dock to my boat and missed >> and and and the cooler in my left hand pulled me back. Lost my balance >> because of the swinging. Yeah, you got off. You're right. It would do that. >> Yeah. Pulled me backwards and I lost balance and I just went straight down at the water. Fortunately, straight down to the water cuz I could have smacked my head on the concrete uh uh dock wall. >> Yeah, you could have >> could have cracked my head open on the lift on the boat. 100 different things and nobody would have known that I was there. The only >> No, you just be fling there dead. >> The only thing I can tell you is that my camera did catch it. And I do have that in my favorites on my phone. So, if you ever want to see that, I'll send it to you. >> Oh, bro. Well, [laughter] I don't know that I'd want to, but okay. >> All right. Headline alert. Here it is. The headline. Copper could hit stratospheric highs, new highs as hoarding of the metal in the US continues. >> Hoarding. >> Yeah. Now, since this came out, copper's gone from $5.77 per per metric ton or however it's calculated to $530. Where copper is right now, that's the future symbol is HG, which I believe is probably its is that its um periodic table number? >> No, the periodic CU. >> I wonder what HG stands for. >> I thought it was like uh HD. It's not silver. It's Mercury maybe. >> Why? >> I don't know. I'd have to look it up. >> Symbol. >> I don't have my periodic table hanging here. >> Um, let's see what it says. Highgrade metal stand. It's the stand as the high grade. >> Okay. So, okay. So, it doesn't have anything. >> High grade copper. Yeah. So, um, if you look back and you look at a chart of where copper is now, and you stretch it back a number of years, this is the sixth time it's been at this price since 2011. >> H, >> so that's a six topper. You know, we talk about double tops, triple tops. >> Yeah. I never heard of a six top. >> Nope. Neither have I. But it seems like it's a pretty uh rough area to get through number one. But if it does, it could be dramatic. now. >> Well, that's no good. >> Yeah, >> we don't want copper to be dramatic. >> No, you don't want this going up. It's it's it's in everything. >> Copper is a major people start stealing it. >> Yeah. Start stealing it. Out of your >> They're stealing it now. But you can imagine >> Yeah. Nobody's going to have any kind of coils in the refrigerator. Everything's going to go bad. Take it right out of the bag. So, not the the this headline thing though, this copper could hit stratospheric new highs. You got to wonder if somebody is trying to corner the market or something. Copper's traded pretty heavily. >> Maybe they're trying to dump >> maybe. But I, you know, I was thinking about like who when was the last time we saw this corning the market trying to like that was the Hunt brothers. >> The Hunt brothers trying to corner silver. >> Yeah. Back in the 80s, Silva went to 11 from 11 to 50, then crashed. >> Yeah, it crashed. >> Bankrupted the Hunt brothers, the Comx changed their rules and forced them to cover all their positions. >> That was a margin. >> It was ugly. >> So, I don't know. Is Is this something I don't I don't think it's as dramatic, but I thought the headline was kind of interesting. Maybe it was a significant bull out there trying to really push the price through that resistance that a lot of people probably have their their their stops on on the short side >> maybe. >> So >> get a blip. >> Yep. So it was a good run. 35 years in the making actually. Uh the vacuum cleaner maker Roomba, also known as iRoot. >> Yeah. Company I hated. >> Yep. Filed for bankruptcy. >> H too bad. >> Yep. You should have been there. Could have been You could have been a hero. Following warnings issued earlier this year that it was fast running out of options. I Robot says it's entering a chapter 11 protection. There's no seven anymore. Seven's just out of business. 11 is we're going to reorganize. We're going to screw all the shareholders. We're going to screw a lot of the bond holders. Somebody's going to give us a chunk of money and we'll continue on. Yeah, we'll continue on. >> So, they're going to be acquired by its contract manufacturer, Pacia Robotics. Now the company says it's going to operate uh continually with no anticipated disruption in its app functionality, their customer programs, their global partners, supply chain relationships or ongoing product support. So everything is just fine. Now if you remember little quiz here, John, there was a company going to buy them at one time. Do you remember this? vaguely, but I cannot tell you what company that was. >> Amazon. >> Oh, I don't Oh, I don't remember that. Okay, >> I'll tell you what happened. It was 2022. Uh, Amazon was going to buy them for about $1.7 billion and there was all this hull. The the idea was, "Oh, this is brilliant. They're going to map your house. They're gonna take this robot, this I Roomba, this Iroot. Now I remember. Yes. The mapping the house gambit. >> Yeah. And there was going to be like >> because everyone knows that there's nothing more valuable than a map of your house. >> So, but the big thing was oh, iRoot's going to go and it's going to see like you have a lots of I don't know, right? >> Have a camera in there and check to see what you own. >> Yeah, exactly. You're going to have it's going to get bump into it's going to bump into toys and know that you have kids in the house and start advertising to you toys or uh it's going to find that uh you know oh they spilled a lot of uh tomato sauce >> and immediately yeah on right dog hair whatever it is and then going to start advertising you this is this can't happen this can't happen this is a horrible thing so um they they this was the greatest this is great primarily in the EU was a Um um there's a whole antitrust competitive concerns with Amazon and a floor >> because it's very it's anti-competitive because of Amazon's other robot vacuum cleaner. >> Right. Right. >> Which doesn't exist. What are they kidding here? >> The greatest thing about this was Amazon walked away with a $94 million termination fee. [laughter] >> Oh, good for them. which >> no wonder these guys are going out of business. >> Yeah. Which totally killed the the ability for iRoot to ever write themselves. >> We had one in the office for a while. Kind of goes around in circles. It tries to find >> neighbor has one and they you know they but they keep a you know a very u tidy house and this hardwood floors and it's the robot works fine there. But if you have a house that has, you know, any sort of anything that's challenging, uh, thick carpets is one of the one of the things, there's a lot of variations. It's useless. >> Well, and if you have any chairs that are like around a table, it won't go. It can't can't get under most of them. >> Yeah. It can't do that. It's >> going around circles. >> Yeah. Um, >> and there's competition. I think there's maybe better I think coming out of China >> naturally. Well, this these are these are these are built in China now. This is basically essentially going to be a Chinese company now. >> Yeah, that's yes the manufactur contract manufacturers >> everything. >> Uh let's talk about the Fed, shall we? The um the the Fed picked situation is really interesting. Uh, President Trump said on Friday that Kevin Walsh has moved as the top of his list as the next Federal Reserve chair even though Kevin Hasset remains in contention and in the running. A story came out with from the Wall Street Journal about this. It's interesting because uh just days after I remember this because I remember Hasset saying something I'm thinking, huh, that's kind of interesting. Why would he say something like that? He said that he would not let outside suggestions influence his voting. And one of the things I I was thinking about the reason why Hasset was in the running was he was pretty much a lap dog for President Trump, considers himself a friend and worked closely with him since 2017. And I think Hasset really is trying to make the case by being on TV all the time lately, by the way. >> Yeah, he's been on a lot >> a lot. Um, and if you listen to him, you I I I could be wrong about this, but most people I don't think are impressed when they listen to his way of being and his ability to command the uh the lead position at the Fed. He he doesn't have that uh leadership quality in my opinion. I I've heard this from a lot of other people. >> In your opinion, he's got no gravitas, which is the old term. >> Yeah, exactly. So, um I was thinking why why would he say something like that? That would probably piss off Trump. >> Well, not if Trump told him to say it. >> Well, that's true. Also, so that it makes it look better. Well, here's the thing. Um Trump has talked about um when he when he made the announcement that Walsh was in the contention and and looking really good, he repeated an assertion that he's made in the past that the Fed chair um ought to consult the president uh about interest rate decisions. And I heard President Trump talking about, you know, he's really smart. He knows the business. He's been in real estate. He knows the markets. He knows the economy. He's got the information. and he should be at least consulted. Now, he didn't say, "I should make the decision." That's not that's not something that was said, but but he did say that he should at least be in the mix somehow. Now, more interesting than all of this, because how did this happen? How do we go from Kevin 1 to Kevin 2, and now Waller's in the mix? Well, uh I think I may have mentioned, if I didn't, I'll mention it now about a week and a half ago before this happened. the prediction markets. We know what these prediction markets because polls are no longer a thing, right? We poo. >> Now, everything is a prediction market, >> right? We poo pooled the polls, right? The these presidential polls, the congressional polls, and all these we they basically said they're not worth anything anymore. >> So now the prediction, >> that's pretty much the the what we're trying to do here. Yeah. >> Yeah. Now the prediction markets are all the rage. >> Yeah. Well, they've been a rage for a while, but now they're really ever since everyone's sold into them. uh we have everybody and their sister with prediction markets available and uh once they became popular and marketed uh they became uh in fact I think logically they would become predictive in some funny way more so than polls >> and and the long >> people put this is like having an opinion but having an opinion and putting money on it. >> Exactly. Putting your money where your mouth is. >> And and I think there's some good things here. I think the predictive markets are pretty cool. Uh there's some definite things there that are interesting. But what I was thinking about when it came to this was, huh, about two weeks ago, I saw this prediction mark was about 93 94% in favor of Hasset. I said, and I said this to somebody in my office, uh I should put some money down on no Hasset. In other words, it >> would have been a good bet. >> It was a 5% to >> Yeah. They give you 20 to1. >> Yeah. 21 to one basically on this. So, I didn't do it. But meanwhile, now the prediction markets are about 50% in favor of Hasset, give or take. That's still a big move. That's still a 10 time. That's a 10 beggger right there from five to 50. So, I think it's kind of interesting and I just was wondering if you thought that there was any chance that the theory that we had >> whole thing is rigged. >> Yep. That's Yep. You knew where I was going. >> Yeah. That's what Yeah. Obviously, this is what you do. This is how you make money on the side. Be part of it. It's a prop bet is what it amounts to. We've talked about this on the No Agenda show every Thursday and Sunday 2 PM. The No Agenda Show. You should check it out. No Agendaow.net. We talk about the prop bet phenomenon and how easy it is to rig. You're up uh on sports especially the prop bet is you're going to catch five passes and you've got already caught in four and the half's running down. You got to catch five and a half. You dropped the last one. Are you right in your hands? Oh, I dropped it. Then it turns out your sister-in-law just made a million dollars. >> Well, we know that there's a couple different players that are being sanctioned because of this. >> Yeah, >> there's a pitcher, some basketball players. >> Yeah, the pitcher throw the ball in the dirt. Oh, whoa. Sorry, a little bit outside. >> So, I don't know. Was this rigged? I don't know. Big payday for people in the know, though. And I don't think this is something that's easily tracked or is being tracked. It's not like it's not >> they don't have enough investigators to track it. You just, you know, the way the market the way these markets work, the uh there's money in the middle and they just take that no matter what. >> So, do you think this needs to be looked into with people? >> Who's going to look into it? The FBI? How are they going to prove it? It's impossible. It's a bet. Is it Gambling should be illegal? Is there a prop bet or a prediction market that will predict >> with the investigation for the bad prop bets are going to go over? That would be a prop bet. [laughter] >> Yeah. So ridiculous. Housing prices, the average home price is down on a year-over-year basis. First time ever since I think it was uh I think 2000 early 2024. Active listings in November were nearly 13% higher than November in 2024, but new listings were just 1.7% higher. In other words, houses probably that means probably because we can say, well, that's good. We have active listings. Well, not really because if houses are selling quickly, they take down the active listings very quickly, too, right? So, this probably means that houses are on the market for a longer period of time. >> That would make sense. >> Yeah. Prices in Austin, Texas are down 10% from last year. Denver down 5%. Uh Tampa, Florida and Houston both saw prices fall 4%. And Atlanta and Phoenix saw price decreases of 3%. >> They were increased >> decreased. Atlanta and Phoenix saw price. >> Anybody increase? >> Uh there was a few here and I'm sure Miami. Uh that's Fort Lauderdale. It's just dumb. Um, but there's a few places around, but generally speaking, the the the overall issue is that prices are down and and and and listings are on the market for a longer period of time. >> Yeah. It's a slowdown. >> Yeah. Then you have what's happened with Zillow, another housing issue, another housing related uh story. Zillow shares plunged 9% on Monday. I wonder if they came back today. Let's see that if uh let's see. Um because Zillow's stock price today up two and a half% >> because of their shenanigans. >> No, not at all. Actually, it's because um there's a new competitor, Google search. Google is running tests on putting real estate sales listings into its search uh results like right there with everything you need to know. With everything you need to know. Now, >> I'm not sure where they're getting this from. But >> they're getting it from Zillow. >> That's They're getting it from somewhere. And that's Zillow was pretty upset about it. >> Yeah, I bet. >> Yep. Well, the stock was upset about it. That's what it was. Um, all right. The UN the black hole, the black hole of economics. We talked about where there's some estimates coming out. There's some other news coming out today. We saw the BLS put out the November jobs number, the jobs report out this morning. It was supposed to be out the first of uh of of December, the first Friday in December. Uh but that didn't happen. There's the first ever gap in the critical data since 1948. Uh some data is going to be estimated, but basically we saw 4.6% unemployment rate, a little bit better um actually a little bit worse than anticipated with a 64,000 addition to the payrolls. So, we're going to also see some uh it's not going to publish the headline CPA CPI number uh or the so-called CPI number, the core. So, that's not going to happen for October. So, we're not sure what to do about that. Uh there's a PPI coming out. There's some other things coming out. What else do we have? is in manufacturing and non-manufacturing both slowed over the last month. So, we're seeing a partial picture at best and and with that partial picture, John C. D'vorak, I'm not buying any of it. I'm not relying on any any of this data to be to be accurate. >> I think it's probably all wrong. >> Yeah, I think the revisions will be pretty substantial. Meanwhile, even though we have a a dir of or not a darth, a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a uh vacuum of uh economic activity, information, the Fed decides, we're going to cut rates. They were split and there was a pretty big split actually where um the priority should be whether to, you know, cut interest rates. There's a 9 to3 vote. There was some dension. There was some other things. Um the dot plot also indicated just one more reduction in 2026 and one in 2027. A lot of disagreement about when and what should happen. So in addition to the rate decision, there was a 25 base point cut in rates. Fed also announced that it will resume buying treasuries. Now this is something we talked about. They were going to stop the quantitative tightening and go back to buying the runoff bonds. So when a bond matures, they'll buy them back so that they have the same amount on their books. But in this meeting, they said they're going to start doing it immediately, which was kind of like, huh? What do you mean? >> Yeah. What do you mean? >> Well, that means in my this $40 billion in Treasury bills they're going to start buying on a monthly basis. What it means to me is that there's a liquidity problem out there and they need to get keep continue pushing uh funds into the system. It was very confusing at first because at first they're like, well, we're not, you know, we're going to reduce rates and it was a little bit hawkish, but then it was very dovish and then they came out with this thing and then you have to question, is is the bond buying just something they're doing just to be safe or is this something they see? Is the fact that they reduced rates and did this at the same time a reaction to something? And you know with the fact that we know that there's data they don't see. So how is it all happening? Is there a bigger concern? >> So >> data we don't see. >> Yeah. So a larger group than usual of regional Fed bankers the president's signal they oppose the cut. six policy makers in the said the benchmark fed funds rate should end in 2025 at the range of 3.7 to4 which it you know which suggesting they oppose the move so long bonds haven't moved at all but they this happened so there you go one of your favorite places Costco came out with earnings beat Wall Street's financial expectations for the first quarter sales revenue sales rose 8.2% 2% digital sales jumped 20% compared to a year ago in this quarter. So they surpassed the quarterly growth expectations posty year-over-year sales of 8.2. That's great. Uh more digital sales and open new locations, earnings per share 4.5 versus 4.275. And in addition to that, they had um revenue slightly higher than um was anticipated. A and um what else do we have here? Um Costco didn't provide and they don't provide year- ahead guidance. That's something to look at. Now, the stock is was down today. It's at $830. I believe it was down at a 52-W week low. Let's take a look at this. Um this is monthly. Let's go to one week over this period of time. Yeah. So it was um in the beginning of this year uh let's see here 121. That's not right. 51. This is the dumbest chart I've ever seen. Okay. Here. This is the worst chart I've ever seen. I don't know where this came came from. Bottom line is the 52- week low. I know that. So, there you have on that. Um or close to it. Year-to date down 5.61%. Now, what's interesting on that note is uh the stock's doing pretty well. So, I don't know what the problem is, John. >> Yeah, Costco. I own some some Costco. >> Good company. Well, down a little bit, but in a decent tape, it's not so good. Now, here's some fun facts. You want to hear some fun facts? >> Sure. Costco has lots of fun facts. >> Yeah. Uh, about 4.45 million pies were sold in the 3 days before Thanksgiving, which is roughly equivalent to 7,000 pies per warehouse. >> That's a lot of pies. >> 7,000 pies in three days. These were like pumpkin and apple and all that. >> Yeah. this. They have pies. I I don't I find their baked goods to be uh of middling quality. >> They're huge. >> Everything's cheap. >> Yeah. >> It's like for the quality, it's a good deal, but it's not like high-end bakery quality, >> right? Costco has more than uh had more than $250 million in non-food online orders on Black Friday. A record. Now, here's something else. Approximately 358,000 whole pizzas were served at Costco's US food courts. A 31% jump from last year. It's a average about 500 pizzas per store. I think that was um I want to say that was Halloween or something. There was a weird date about that. >> It's a lot of pizzas. >> A lot of pizzas. Yeah. >> Their pizza is another product that is like middling. It's >> middling. But you know, a buck and a half for a hot dog. Is it a great hot dog? No. It's fine for a buck and a half. It's fantastic. No. For a buck and a half with the hot dog. Yeah. With a free drink. >> Yeah. Fantastic. The best. >> That can be refilled. >> Yeah. [laughter] >> You can literally eat for like $4 a day. >> Such a deal. Yeah, you could. Those hot dogs are big. They're giant dogs. >> Well, the first thing you do is just go around the store and you get your your hand your your appetizers at all the different >> Yeah, there's appetizers all over the store. [laughter] >> You can get by without getting sick, >> right? >> Uh or go back for seconds on some of the appetizers. >> Yeah. You got a little crackers first. You got a little cheese. You got something a little sausage on a stick. >> Yeah. They have all the all the regular stuff and little gobs of goo and a little and a little bitty thingy. >> As you're passing the the the the produce, grab a couple of grapes on your way. Nobody's nobody. You could um and then uh yeah, you go hit the dog and uh get some sauerkraut, >> right? You know what we did in the uh in I don't know if you ever had a thing, but my family was always my mother always grabbed a handful of snap peas and handed to them us in the grocery store for us to eat. Did you just take them? Yeah, snap peas. Just open them up. >> Um fat no more, sir. Even though you're going to have these hot dogs, you're not going to gain any weight because there's something called retatrite. Retatuitride. Retatuitride. Retat true. Wait a second. >> Where is this thing on here? >> True tide. Reatride. >> No, you you have to be pronouncing it wrong. >> It's re ta. True. T ru t. Rea tide. Why can't they have some? >> We'll go with that for now, but it's got to still have a >> Eli Liy said the next generation obesity drug delivered what appears to be the highest weight lost seen so far in a late stage trial and reduced knee arthritis pain. There you go. >> Yeah, there you go. >> There you go. You get your knees will be fine. Probably because you're not you're not you know why? Because you're not so fat above your knees. Your body's carrying a lot less weight. Here's something that's fascinating. In a 48week phase two trial, participants said the highest dose lost an average of 24% of their body weight. That's a lot. That is a lot. >> In a recent phase three results showed p patients on the highest dose lost an average of 28.7 of their body weight after 68 weeks. That's a lot of fat. >> Yeah, people are fat. >> 28%. You're 300 lb. You basically lose 30. Let's say you lose all you're back to 200 lb. 210. Pretty good. >> Yeah. Yeah. If it doesn't kill you. >> Yeah. Well, the trials also showed improvements in related health concerns like knee, osteoarthritis, pain, blood pressure, and liver fat. And like I said, you can it grows hair back. >> The triple threat. >> Yeah. >> Wait until you see the contraindications and side effects. >> Yeah. So the triple action is what makes this drug potentially more effective. It hits three different receptors. Uh Zepbound, their other drug targets two receptors. Well, Goi targets only one. >> Let's see. >> Interesting. >> Yep. PayPal Holdings applied to become a bank in the US looking to take advantage of the Trump administration's openness to financial technology companies entering the banking system. I'm surprised they haven't been made a bank by now. >> I know. I agree. >> Because there are they are a bank. >> It's basically what they do. >> They have lending and all that already. Uh big news about Ford Motor Company. Ford very confused. This management sucks. Can I can I I can't say that uh with with the right amount of emphasis. >> Yeah, I can imagine it sucks because it sucks. I did some uh I got on one of their I was I got on a junket some years ago to Spain on the on the Ford dime and uh they just didn't do it right. I mean I know what a junket's supposed to be like, what you're supposed to do, how it's supposed to be. And I tr I was trying to tell them about it and they said, "We're not interested in anything you have to say." >> Yeah. >> And that was that. They just they're closedminded uh management. >> Yep. Well, instead of planning to make enough electric vehicles to account for 40% of global sales by 2030 as it planned just four years ago, Ford said, "No, no, no. We're not going to do that. We're going to we're going to focus on a broader range of hybrids and extended range electrics and battery electric models, which is basically hybrids and all that." Executives now will say account for 50% of sales by the end of the decade. The automaker says that the hybrid versions of almost every vehicle in its lineup are going to be produced. So, they're going to take a $19.5 billion special charge during this quarter >> because of the waste of money. >> Yeah, they're restructuring their business, probably throwing away cars. They have to restructure all their factories, uh, getting away who knows what other excess materials they have. Who knows? just what what's what's really disturbing about this is that they make these long-term commitments, which they need to to a degree. I get that. But they make it in such an all-in fashion that if they're not right, they can screw themselves like they've done time after time. >> Yeah, they have done it time after time. They went big when everyone went small. They went small when everyone went big, >> right? >> They did this, they did that. They It's kind of ridiculous. Yeah, they're almost trying to hit a home run now. Maybe this hybrid process that they're having is going to maybe it's a better plan, which I think it is a better plan than the, you know, >> I like hybrids. I think they're it's a good idea. >> Yeah. Australia, real quickly, Australia's implemented a groundbreaking ban preventing children under 16 from accessing major social media platforms like Tik Tok and Instagram, Facebook, and that's effective now. Except Blue Sky is exempt for some reason. >> There's a bunch that are exempt. Uh Facebook, Instagram, Snapchat, Threads, Tik Tok, X, YouTube, Reddit, Kick, and Twitch are all banned. Reddit's suing. >> Oh, good. >> Yeah, but Reddit is suing saying it's unconstitutional. Now, here's the interesting thing. If they win, don't you think that the tobacco company should sue the government saying it's unconstitutional to ban cigarettes to young children? I don't think cigarettes are qualify as free speech, which I think is the angle here, >> I guess. But does do children have free speech? Are they are they they're not of majority? That's what the angle is going to be on the other side. Well, we'll see. Whatever. Well, we'll see how it goes. >> All right. And I'll save for last. I promised this at the beginning, didn't I? Before we get to the game that we have something to talk about, it's once again Oracle. >> Yeah, your buddies. >> Of all the eyepopping numbers that Oracle published last week on the cost of its AI data and the center, you know, the data center buildouts, one thing they left out. They left out. It was a day after that they talked about a detail of a $248 billion lease payment commitments that substantially all related to data centers and cloud capacity arrangements. And these are due to commence between now and 2028. But they haven't even put those on the balance sheet as as as as liabilities as long-term, you know, liabilities for the future. That's almost 150 bill. It gets worse. That's almost $150 billion more that were disclosed in the footnotes in the September's earnings update. >> Huh. >> So they doubled up since get more than that since September in their commitments. No wonder why Oracles stock is floundering or doing >> Yeah. Well, well, it should. >> 85 or something like that. All right, let's get to the game. Here we go. 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 company, myself or John Cedavor 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. And by the way, you have Eli Liy on the list. >> I do have up 43%. >> Yeah, it's the winner on the list as we speak. It's a beauty. Yep. >> Not much exciting here. And by the way, before we do this, I would mention it is that time of year is the holiday spirit of giving and receiving. I know that you're receiving. You're listening right now. You're receiving. It's it's just way it is like a transmitter and receiver. We're transmitting. You're receiving. Now, you have to be giving. There's a way to do that. The way for you to transmit is go over to dhunplug.com. Pound on, smack on, hit on, bounce on that yellow button that says or or as I guess you say on no agenda button. Button. >> We don't say button, but a lot of people say button. >> Button. [clears throat] >> Yeah, hit that button and uh make sure to um donate during this holiday season for all these great ideas that we give you throughout the show and the stimulating discussions about how not to cut your finger off or recipes. So I if you want maybe we can even start drumming up some of my discussion on my latest recipe direction which is making my homemade bitters and tinctures for >> No, you should talk to my son. He's all into this. >> Oh, yeah. I should I should >> He has a bunch of theoretical ideas that you should listen to. >> Oh, that's good. I would I would I would like to talk to about this. I'm making right now a um um it's a it's a chocolate bters. >> Yeah. Yeah. You're going to have nothing but fun. Yep. >> I'll just stick with my vinegars. >> Y >> u >> Let's hear about >> Yeah, he does it. He does it right. Well, can you give him my number? I I'll talk to him. >> I will definitely pass it along. >> Uh let's talk about stock. I have no picks this week. >> I have one. >> What do you have? >> I have a Baker Brothers pick. >> Oh, you know, I was wait I was looking at that the other day going where are the Baker brothers? >> Well, here they are. I was looking at their track record over the last couple years. Unbelievable. >> Well, we know that >> one company. >> Are you surprised? No, I'm not surprised. But I'll say one company there was a big failure which was uh they did have a flop. They had a penny stock that they were in on KA Bio Biotech company and they finally that move didn't that move up. Is that Caleb? >> They're out of it if it moved up. Um >> what's this what's the symbol? KALA. I mean, they they got out of it back in October, September, but they had uh it was the only one I've seen that that hasn't performed well in their I'm looking at their history. So, the latest thing is is this crazy that this stock uh I'm not sure what they do, but the term may have something to do with it. Chimera Technologies. It's already had a big runup, and they bought it after the runup, and that means something. They know something we don't know. And uh it's K YMR >> and it's about8 $86 or so. >> Uh Chimera Therapeutics. >> No, right. >> No, that's $445. It's $84. Yeah. Yeah. >> Yeah. 84. Yeah. They got in at 86. So they So this is the beginning of their investment. So, uh, and they you and they're really good when it comes to these biotech companies. They there's something going on. They know stuff. >> This stock is up, uh, 43% year to date. >> Yeah, because it had a big jump. >> Yeah. I'm looking right now. You know, Google I'm looking on this different site for whatever reason. Google Finance has a new beta. It's kind of interesting. So, >> is it any good? >> I don't know. I'm looking at it. I'll see what it has. Um, it has basic stuff, but it's it does some charting. Uh, >> I tend to use Yahoo Finance. >> Yahoo Finance is better. This is This is just basic stuff. Has some research in here. It has an AI mode, of course. Uh, is the beta list? Yeah, there's a beta one. You have AI mode. You could ask questions like what are the top stock movers? Um, I I'll check it out. All right. Chimera and uh we're gonna say is Baker Brothers. Yeah, that's all there is to it. >> All right. All right. Until next week. Next week will be uh one of the last shows of the Is is next week the last show of the year? No, there's one more before that. So, two more shows. Counting down. Two more shows of the year. >> Pretty exciting. >> Yeah. So, people should help us out here with a donation. >> Donation time. Go hit that button. >> Yep. Do it. All right. I'll see you next week. >> Okay. Bye-bye. >> Bye. >> You've been listening [music] in on a conversation with John C. D'vorak and Andrew Horowitz. Hope to be with you again soon. Bye-bye. [music] >> 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. 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